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Retirement Target 2050 CIT
Retirement Target 2050 CIT
Pro-Mix® Conservative Term CIT
Pro-Mix® Extended Term CIT
Pro-Mix® Maximum Term CIT
Pro-Mix® Moderate Term CIT
Retirement Target 2020 CIT
Retirement Target 2025 CIT
Retirement Target 2030 CIT
Retirement Target 2035 CIT
Retirement Target 2040 CIT
Retirement Target 2045 CIT
Retirement Target 2050 CIT
Retirement Target 2055 CIT
Retirement Target 2060 CIT
Retirement Target Income CIT
Investment Objective
To provide capital growth and manage risk for investors planning to retire in or around the year indicated in the fund’s name.
Investment Strategy
Currently: The portfolio is currently invested in an aggressive, growth-oriented mix of securities that seeks to earn the long-term growth typically associated with the stock market. The portfolio is diversified primarily among various stock investments in both domestic and foreign markets, with only a minor portion of the portfolio invested in fixed income securities. Stock exposure can range from 70% - 95%.
Over Time: The portfolio’s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. During the target year, the portfolio’s stock exposure can range from 20% - 60%. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 13% - 47%.
May be Appropriate for Investors
- Who plan to stop contributions and start periodic withdrawals around the year 2050
- Who generally have time to withstand market volatility and can accept very significant fluctuations in current account value
- Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time
About Target Date Funds
A target date fund is a single investment portfolio designed to meet an investor’s changing needs over time. The fund gradually shifts from a more aggressive to a more conservative investment objective over the years to reflect an appropriate risk/return trade-off for the investor’s changing time horizon.
Daily Price
$25.26
Daily $ Change
$0.36
Daily % Change
1.43%
as of 06/23/2022
CUSIP
302027859
Inception Date
05/10/2007
This fund is only available for use within certain qualified employee benefit plans.
Important Documents
| Annual Report | |
| Applications & Forms |
Each Retirement Target CIT Fund seeks to achieve its investment objectives by investing in a combination of other Manning & Napier CIT Funds (the “underlying CIT Funds”) in order to meet its target asset allocations and investment style. The financial statements of the underlying Pro-Mix® CIT Funds should be read in conjunction with the Retirement Target CIT Funds’ financial statements.
Pro-Mix® CIT Fund Annual Report
Performance
As of 05/31/2022
YTD
-14.43%
1 Year
-8.09%
3 Year
12.20%
5 Year
10.21%
10 Year
10.65%
Inception
(01/01/2000)
7.69%
Performance through the inception date of the Retirement Target CIT Class S Units is not the past performance of the Retirement Target CIT Fund and is based on historical performance data of the Manning & Napier Pro-Mix® CIT Fund(s) that would have been held according to the Retirement Target CIT Fund’s glide path. The Retirement Target CIT Fund will gradually become more conservative over time. Returns are net of the Class S expenses. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.
Expense Ratio
| Gross | 0.91% |
| Net | 0.89%* |
*Includes acquired fund fees and expenses of the underlying collective investment trusts and reflects the Trustee’s contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.
Top Ten Investments
As of 05/31/2022
| TREASURY NOTES | 8.55% |
| AMAZON.COM INC | 2.92% |
| MICROSOFT CORP | 2.80% |
| MASTERCARD INC-CLASS A | 2.28% |
| MEDTRONIC INC | 2.21% |
| PAYPAL HOLDINGS INC | 1.97% |
| JOHNSON & JOHNSON | 1.97% |
| COCA COLA CO/THE | 1.97% |
| MONDELEZ INTERNATIONAL INC | 1.87% |
| SERVICENOW INC | 1.77% |
This investment list is unaudited and excludes cash.
Asset Allocation
As of 05/31/2022
| Stocks | 82.54% |
| Bonds | 12.54% |
| Cash | 4.92% |
Detailed Asset Class Allocation
As of 05/31/2022
| International Equities | 22.61% |
| Small Capitalization | 2.21% |
| Mid Capitalization | 6.68% |
| Large Capitalization | 51.04% |
| Long Term Fixed Income | 1.38% |
| Intermediate Term Fixed Income | 9.90% |
| Short Term Fixed Income | 1.26% |
| Cash | 4.92% |
Due to rounding, the sum of the detailed asset class allocation categories may not equal the asset allocation totals provided above.
May Fund Holdings
As of 05/31/2022
| Security Description | Country | Ticker | Shares/Par | Market Value (USD) |
|---|---|---|---|---|
| ABBOTT LABORATORIES | US | ABT | 142.45 | $16,732.60 |
| ACCOR SA-SPONSORED ADR | FR | ACCYY | 34,526.72 | $230,983.75 |
| ACTIVISION INC | US | ATVI | 3,384.86 | $263,612.96 |
| ADIDAS AG-SPONSORED ADR | DE | ADDYY | 1,955.69 | $193,887.25 |
| AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 | IE | 26,478.36 | $23,220.39 | |
| ADYEN NV UNSPON ADR | NL | ADYEY | 23,422.36 | $362,578.10 |
| AGREE REALTY CORP | US | ADC | 120.48 | $8,381.55 |
| AIR LIQUIDE-ADR | FR | AIQUY | 10,197.48 | $355,993.93 |
| AIR LEASE CORP 3.62500 04/01/2027 | US | 26,478.36 | $25,180.80 | |
| ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 | US | 6,689.64 | $7,018.35 | |
| ALIBABA GROUP HOLDING 4.00000 12/06/2037 | KY | 62,224.14 | $54,175.03 | |
| ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 | KY | 33,097.95 | $27,532.37 | |
| ALIGN TECHNOLOGY INC | US | ALGN | 1,205.43 | $334,674.81 |
| ALLSTATE CORPORATION | US | ALL | 51.63 | $7,057.69 |
| ALPHABET INC-CL A | US | GOOGL | 245.32 | $558,166.38 |
| AMAZON.COM INC | US | AMZN | 545.72 | $1,312,012.03 |
| AMAZON.COM INC 3.30000 04/13/2027 | US | 58,252.39 | $58,198.72 | |
| DIAGEO PLC | GB | DGE LN | 8,010.1 | $372,159.48 |
| AMERICAN HOMES 4 RENT- A | US | AMH | 428.95 | $15,853.97 |
| AMERICAN TOWER REIT INC | US | AMT | 64.21 | $16,446.11 |
| ANALOG DEVICES INC | US | ADI | 78.91 | $13,287.69 |
| APPLE HOSPITALITY REIT INC | US | APLE | 1,462.13 | $24,432.27 |
| ARBOR REALTY TRUST INC 8.00000 04/30/2023 | US | 6,619.59 | $6,696.38 | |
| ARCHER-DANIELS-MIDLAND CO | US | ADM | 93.73 | $8,512.87 |
| ARGO BLOCKCHAIN PLC | GB | 476.61 | $9,994.52 | |
| ASHTEAD CAPITAL INC 4.00000 05/01/2028 | US | 26,478.36 | $25,178.31 | |
| AUTOMATIC DATA PROCESSING | US | ADP | 54.68 | $12,189.87 |
| AVALONBAY COMMUNITIES INC | US | AVB | 101.81 | $21,172.26 |
| AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 | KY | 72,815.48 | $63,097.18 | |
| BNSF FUNDING TRUST I 6.61300 12/15/2055 | US | 17,210.93 | $17,423.82 | |
| BANK OF AMERICA CORP 2.68700 04/22/2032 | US | 47,661.04 | $41,699.17 | |
| BARRICK GOLD CORP | CA | GOLD | 7,252.02 | $148,593.99 |
| BAXTER INTERNATIONAL INC | US | BAX | 72.15 | $5,487.28 |
| BEST BUY INC | US | BBY | 49.25 | $4,041.43 |
| BIOMARIN PHARMACEUTICAL INC | US | BMRN | 6,117.29 | $459,592.36 |
| BLACKROCK INC | US | BLK | 677.45 | $453,267.42 |
| BLACKSTONE PRIVATE CRE 2.62500 12/15/2026 | US | 27,802.28 | $24,188.97 | |
| BLACKSTONE SECURED LEND 2.75000 09/16/2026 | US | 27,802.28 | $25,292.94 | |
| DECHRA PHARMACEUTICALS PLC | GB | DPH LN | 724.32 | $33,200.77 |
| BOSTON SCIENTIFIC CORP | US | BSX | 5,707.41 | $234,060.88 |
| BRANDYWINE REALTY TRUST | US | BDN | 727.23 | $8,108.59 |
| BRISTOL MYERS SQUIBB CO | US | BMY | 245.32 | $18,509.54 |
| BROADRIDGE FINANCIAL SOLUTIONS | US | BR | 27.8 | $4,065.25 |
| JONAH ENERGY PARENT LLC | US | 263.59 | $14,144.35 | |
| CBOE GLOBAL MARKETS INC | US | CBOE | 1,868.05 | $209,800.48 |
| CDW CORP/DE | US | CDW | 1,205.96 | $204,843.82 |
| C.H. ROBINSON WORLDWIDE INC | US | CHRW | 34.55 | $3,749.48 |
| COTERRA ENERGY INC | US | CTRA | 126.83 | $4,354.12 |
| CAMDEN PROPERTY TRUST | US | CPT | 98.1 | $14,076.70 |
| CAMECO CORP | CA | CCJ | 468.67 | $11,468.28 |
| CAMPBELL SOUP CO | US | CPB | 78.51 | $3,761.33 |
| CANADIAN NATIONAL RAILWAY CO | CA | CNI | 5,248.01 | $597,118.62 |
| CARETRUST REIT INC | US | CTRE | 485.61 | $8,998.41 |
| CATERPILLAR INC | US | CAT | 69.37 | $14,974.23 |
| CENOVUS ENERGY INC 6.75000 11/15/2039 | CA | 60,900.22 | $68,628.77 | |
| CENTURYLINK INC 7.50000 04/01/2024 | US | 20,520.73 | $21,229.09 | |
| CHARTER COMMUNICATIONS INC-A | US | CHTR | 1,128.51 | $572,074.35 |
| CHEVRON CORP | US | CVX | 131.33 | $22,938.56 |
| CINCINNATI FINANCIAL CORP | US | CINF | 38.13 | $4,875.15 |
| CISCO SYSTEMS INC | US | CSCO | 445.37 | $20,063.74 |
| CITIGROUP INC | US | C | 273.26 | $14,594.64 |
| CITIGROUP INC 1.46200 06/09/2027 | US | 45,013.21 | $40,546.65 | |
| CLARK CNTY NV 1.51000 11/01/2028 | US | 46,337.13 | $40,764.63 | |
| COCA COLA CO/THE | US | KO | 13,940.99 | $883,579.79 |
| COGNEX CORP | US | CGNX | 3,273.39 | $158,497.39 |
| COLGATE-PALMOLIVE CO | US | CL | 131.73 | $10,381.63 |
| COMCAST CORP-CL A | US | CMCSA | 476.74 | $21,110.17 |
| COMMUNITY HEALTHCARE TRUST I | US | CHCT | 253 | $9,533.07 |
| CONAGRA BRAND INC. | US | CAG | 119.55 | $3,931.99 |
| CONOCOPHILLIPS | US | COP | 117.43 | $13,194.60 |
| CONSTELLATION BRANDS INC-A | US | STZ | 2,871.45 | $704,853.72 |
| CONTROLADORA VUELA CIA DE AV | MX | VLRS | 934.16 | $14,554.16 |
| COPART INC | US | CPRT | 1,744.26 | $199,770.30 |
| COUSINS PROPERTIES INC | US | CUZ | 598.94 | $20,693.39 |
| CROWN CASTLE INTL CORP 3.10000 11/15/2029 | US | 33,097.95 | $30,100.31 | |
| CUMMINS INC | US | CMI | 30.19 | $6,312.36 |
| KIMBERLY CLARK DE MEXICO S.A.B. | MX | 20,653.12 | $31,954.85 | |
| DEVON ENERGY CORPORATION | US | DVN | 92.67 | $6,941.30 |
| DIAMONDBACK ENERGY INC | US | FANG | 26.74 | $4,065.49 |
| DIGITAL REALTY TRUST INC | US | DLR | 184.69 | $25,780.39 |
| WALT DISNEY CO/THE | US | DIS | 1,904.32 | $210,313.48 |
| DOLLAR GENERAL CORP | US | DG | 2,385.04 | $525,519.28 |
| DOLLAR TREE STORES INC | US | DLTR | 3,401.28 | $545,326.80 |
| DOMINO'S PIZZA | US | DPZ | 774.36 | $281,224.16 |
| DOUBLEVERIFY HOLDINGS INC | US | DV | 14,642.13 | $325,787.49 |
| DOW INC | US | DOW | 96.25 | $6,543.00 |
| DUKE RLTY INVTS INC | US | DRE | 417.83 | $22,073.88 |
| EOG RESOURCES INC | US | EOG | 63.02 | $8,631.01 |
| EAST WEST BANCORP INC | US | EWBC | 4,465.18 | $328,369.17 |
| EASTMAN CHEM CO | US | EMN | 34.42 | $3,791.91 |
| EBAY INC | US | EBAY | 88.57 | $4,310.71 |
| ECO MATERIAL TECH INC 7.87500 01/31/2027 | US | 11,915.26 | $11,291.02 | |
| ELECTRONIC ARTS | US | EA | 3,662.22 | $507,767.02 |
| EMERSON ELEC CO | US | EMR | 101.68 | $9,014.67 |
| ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 | US | 60,900.22 | $63,685.61 | |
| EQUINIX INC | US | EQIX | 874.98 | $601,188.16 |
| EQUITY LIFESTYLE PROPERTIES | US | ELS | 369.64 | $27,981.59 |
| ESSEX PROPERTY TRUST INC | US | ESS | 62.75 | $17,812.64 |
| EXPEDIA INC | US | EXPE | 1,975.02 | $255,429.42 |
| EXPEDIA GROUP INC 3.25000 02/15/2030 | US | 26,478.36 | $23,413.27 | |
| EXTRA SPACE STORAGE INC | US | EXR | 91.75 | $16,349.41 |
| FMC CORP | US | FMC | 3,976.65 | $487,458.01 |
| FS ENERGY & POWER FUND 7.50000 08/15/2023 | US | 43,689.29 | $44,497.45 | |
| META PLATFORMS INC | US | FB | 3,911.52 | $757,425.83 |
| FEDEX CORPORATION | US | FDX | 1,014.52 | $227,840.51 |
| FIFTH THIRD BANCORP | US | FITB | 145.63 | $5,742.23 |
| GENERAL DYNAMICS CORP | US | GD | 43.95 | $9,885.71 |
| GENERAL MLS INC | US | GIS | 109.36 | $7,638.49 |
| GENUINE PARTS CO | US | GPC | 34.42 | $4,706.50 |
| GETTY REALTY CORP | US | GTY | 327.4 | $9,147.69 |
| GILEAD SCIENCES INC | US | GILD | 194.88 | $12,638.01 |
| GRAPHIC PACKAGING HOLDING CO | US | GPK | 17,881.63 | $398,045.06 |
| GREENIDGE GEN HLD INC | US | 450.13 | $8,966.63 | |
| GRUPO AEROPORTUARIO CEN-ADR | MX | OMAB | 2,213.72 | $127,864.64 |
| GRUPO AEROPORTUARIO PAC-ADR | MX | PAC | 936.67 | $140,856.72 |
| GRUPO AEROPORTUARIO DEL SURESTE | MX | ASR | 636.54 | $138,313.71 |
| AIRBUS SE | FR | AIR FP | 210.11 | $24,623.52 |
| ADIDAS AG | DE | ADS GR | 1,078.6 | $214,282.09 |
| HCA INC 4.12500 06/15/2029 | US | 37,069.7 | $36,085.36 | |
| L'OREAL | FR | OR FP | 27.8 | $9,820.08 |
| HEALTHCARE REALTY TRUST INC | US | HR | 419.15 | $12,184.76 |
| HEALTHCARE TRUST OF AMERICA | US | HTA | 287.42 | $8,637.05 |
| HEINEKEN NV-SPN ADR | NL | HEINY | 6,372.55 | $321,431.23 |
| HESKA CORP | US | HSKA | 2,048.9 | $204,459.26 |
| HOME DEPOT INC | US | HD | 95.85 | $29,019.09 |
| HONEYWELL INTERNATIONAL INC | US | HON | 90.95 | $17,610.35 |
| HUMANA INC | US | HUM | 508.12 | $230,803.20 |
| IDEXX LABORATORIES INC | US | IDXX | 1,008.03 | $394,765.12 |
| KERRY GROUP PLC-A | IE | KYGA ID | 163.64 | $16,934.75 |
| ILLINOIS TOOL WKS INC | US | ITW | 51.9 | $10,798.33 |
| INDEPENDENCE REALTY TRUST IN | US | IRT | 433.85 | $10,199.76 |
| INSPERITY INC | US | NSP | 3,242.27 | $324,454.44 |
| INTEL CORP | US | INTC | 480.98 | $21,365.10 |
| INTERCONTINENTALEXCHANGE INC | US | ICE | 3,567.96 | $365,323.29 |
| INTERNATIONAL FLVRS & FRAGRANCES | US | IFF | 51.63 | $6,824.31 |
| INTUITIVE SURGICAL INC | US | ISRG | 618.67 | $140,833.31 |
| INVITATION HOMES INC | US | INVH | 693.87 | $26,172.60 |
| JP MORGAN CHASE & CO | US | JPM | 2,664.91 | $352,381.61 |
| JPMORGAN CHASE & CO 4.49300 03/24/2031 | US | 67,519.81 | $68,413.28 | |
| JOHNSON & JOHNSON | US | JNJ | 4,924.97 | $884,180.66 |
| KEYCORP | US | KEY | 160.72 | $3,208.04 |
| KROGER CO | US | KR | 127.89 | $6,774.36 |
| L3HARRIS TECHNOLOGIES INC | US | LHX | 1,326.04 | $319,442.10 |
| BEIERSDORF AG | DE | BEI GR | 423.26 | $43,930.37 |
| LENNAR CORP | US | LEN | 48.99 | $3,931.04 |
| LIFE STORAGE INC | US | LSI | 161.12 | $18,812.47 |
| LOCKHEED MARTIN CORP | US | LMT | 33.63 | $14,799.81 |
| LULULEMON - ADR | CA | LULU | 2,181.82 | $638,595.91 |
| MAGALLANES INC 4.05400 03/15/2029 | US | 63,548.06 | $60,919.70 | |
| ATOS SE | FR | ATO FP | 1,270.7 | $33,450.43 |
| MARATHON PETROLEUM CORP | US | MPC | 70.83 | $7,209.75 |
| MARRIOTT VACATIONS WORLD | US | VAC | 68.45 | $10,110.92 |
| MASTERCARD INC-CLASS A | US | MA | 2,863.5 | $1,024,761.44 |
| MCDONALDS CORP | US | MCD | 59.71 | $15,059.13 |
| ACCOR SA | FR | AC FP | 571.4 | $18,801.87 |
| MERCADOLIBRE INC | AR | MELI | 27.93 | $21,953.30 |
| MERCK & CO INC | US | MRK | 256.84 | $23,636.99 |
| MICROSOFT CORP | US | MSFT | 4,620.47 | $1,256,168.09 |
| MICROCHIP TECHNOLOGY INC | US | MCHP | 82.35 | $5,982.56 |
| MID-AMERICA APARTMENT COMM | US | MAA | 129.88 | $23,507.62 |
| MONDELEZ INTERNATIONAL INC | US | MDLZ | 13,192.71 | $838,528.59 |
| MOODY'S CORPORATION | US | MCO | 1,946.03 | $586,863.32 |
| MOTOROLA SOLUTIONS INC | US | MSI | 32.3 | $7,098.39 |
| NAVIENT CORP 6.75000 06/25/2025 | US | 41,703.41 | $42,092.71 | |
| NETAPP INC | US | NTAP | 57.99 | $4,172.21 |
| KEYENCE CORP | JP | 6861 JP | 79.44 | $31,581.52 |
| NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 | US | 12,577.22 | $12,209.39 | |
| NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 | AU | 27,802.28 | $25,271.73 | |
| NEWMONT GOLDCORP CORP | US | NEM | 2,219.28 | $150,578.39 |
| NEXPOINT RESIDENTIAL | US | NXRT | 123.61 | $9,082.96 |
| NORFOLK SOUTHN CORP | US | NSC | 1,249.91 | $299,553.64 |
| NIKON CORP | JP | 7731 JP | 3,336.27 | $41,397.48 |
| NORTHROP GRUMMAN CORP | US | NOC | 685.39 | $320,743.02 |
| NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 | CA | 19,196.81 | $1.92 | |
| NOVARTIS AG- REG | CH | NVS | 4,686.27 | $426,169.58 |
| NUCOR CORP | US | NUE | 47.93 | $6,348.25 |
| NVIDIA CORP | US | NVDA | 795.01 | $148,444.77 |
| OKTA INC | US | OKTA | 2,191.88 | $182,035.50 |
| OMNICOM GROUP | US | OMC | 54.15 | $4,040.00 |
| SONY CORP FIRST SECTION | JP | 6758 JP | 330.98 | $31,042.38 |
| OWL ROCK TECHNOLOGY 3.75000 06/17/2026 | US | 26,478.36 | $24,656.59 | |
| PPG INDUSTRIES INC | US | PPG | 33.89 | $4,287.04 |
| PACKAGING CORP OF AMERICA | US | PKG | 24.89 | $3,914.65 |
| PARKER HANNIFIN CORP | US | PH | 18.93 | $5,152.73 |
| DEUTSCHE BOERSE AG | DE | DB1 GR | 2,522.06 | $423,865.97 |
| PAYPAL HOLDINGS INC | US | PYPL | 10,383.09 | $884,743.15 |
| NESTLE SA-REGISTERED | CH | NESN SW | 5,477.84 | $670,034.53 |
| PFIZER INC | US | PFE | 381.42 | $20,230.56 |
| PIONEER NATURAL RESOURCES CO | US | PXD | 29.39 | $8,168.93 |
| POPULAR INC 6.12500 09/14/2023 | PR | 21,182.69 | $21,422.44 | |
| PROCTER & GAMBLE CO | US | PG | 211.56 | $31,285.80 |
| PROLOGIS | US | PLD | 640.11 | $81,601.77 |
| PUBLIC STORAGE INC | US | PSA | 116.24 | $38,433.59 |
| QUALCOMM INC | US | QCOM | 128.82 | $18,449.20 |
| QUALCOMM INC 4.25000 05/20/2032 | US | 52,956.71 | $54,988.56 | |
| QUEST DIAGNOSTICS INC | US | DGX | 31.51 | $4,443.43 |
| RADIUS GLOBAL INFRASTRUCTURE | US | RADI | 2,137.2 | $31,844.29 |
| RAILWORKS HOLDINGS LP/R 8.25000 11/15/2028 | US | 24,492.48 | $23,701.33 | |
| REGIONS FINANCIAL CORP. | US | RF | 230.89 | $5,100.39 |
| REPUBLIC SERVICES INC | US | RSG | 56 | $7,495.27 |
| RESTAURANT BRANDS INTERN | CA | QSR | 364.61 | $19,145.51 |
| REXFORD INDUSTRIAL REALITY IN | US | REXR | 395.32 | $25,249.21 |
| GETINGE AB-B SHS | SE | GETIB SS | 1,081.91 | $31,398.21 |
| ROSS STORES INC | US | ROST | 45.15 | $3,838.28 |
| HEINEKEN NV | NL | HEIA NA | 285.44 | $28,701.53 |
| RYANAIR HOLDINGS - ADR | IE | RYAAY | 4,337.68 | $378,246.09 |
| S&P GLOBAL INC | US | SPGI | 1,077.14 | $376,438.74 |
| SBA COMMUNICATIONS CORP | US | SBAC | 2,159.71 | $726,979.04 |
| NAVIENT CORP 5.50000 01/25/2023 | US | 11,915.26 | $11,965.35 | |
| SALESFORCE INC | US | CRM | 3,167.34 | $507,534.74 |
| SEA LTD - ADR | SG | SE | 6,043.02 | $499,516.29 |
| SEAGEN INC | US | SGEN | 3,968.97 | $538,510.31 |
| SERVICENOW INC | US | NOW | 1,696.34 | $792,986.17 |
| SHOPIFY INC | CA | SHOP | 32.3 | $12,117.72 |
| SIMON PROPERTY GROUP LP 2.65000 02/01/2032 | US | 83,406.83 | $72,033.09 | |
| SKYWORKS SOLUTIONS INC | US | SWKS | 28.46 | $3,098.90 |
| JM SMUCKER CO/THE-NEW COM WI | US | SJM | 28.73 | $3,601.76 |
| SNOWFLAKE INC-CLASS A | US | SNOW | 1,519.33 | $193,942.24 |
| SONY CORP SPONSORED ADR | JP | SONY | 5,797.7 | $545,389.74 |
| SOUTHWEST AIRLINES CO 5.12500 06/15/2027 | US | 48,984.96 | $51,073.80 | |
| STANLEY BLACK & DECKER INC | US | SWK | 27.01 | $3,205.57 |
| STEEL DYNAMICS INC | US | STLD | 47.53 | $4,058.00 |
| SUN COMMUNITIES | US | SUI | 192.37 | $31,572.91 |
| SYNCHRONOSS TECH | US | 912.18 | $20,232.14 | |
| SYNERGY ONE LENDING 5.50000 10/14/2026 | US | 23,168.56 | $20,666.48 | |
| TJX COMPANIES INC | US | TJX | 125.11 | $7,953.26 |
| TACORA RESOURCES INC 8.25000 05/15/2026 | CA | 11,915.26 | $11,368.42 | |
| TAIWAN SEMICONDUCTOR - SP ADR | TW | TSM | 4,169.55 | $397,357.82 |
| TARGET CORP | US | TGT | 48.99 | $7,929.69 |
| TENCENT HOLDINGS 3.97500 04/11/2029 | KY | 107,237.35 | $103,327.48 | |
| TERRENO REALTY CORP | US | TRNO | 220.56 | $13,390.48 |
| TEXAS INSTRUMENTS INC | US | TXN | 81.69 | $14,438.77 |
| THERMO FISHER SCIENTIFIC INC | US | TMO | 791.31 | $449,121.38 |
| 3M CO | US | MMM | 86.72 | $12,945.92 |
| TRACTOR SUPPLY COMPANY | US | TSCO | 18.14 | $3,398.27 |
| TRAVELLERS COS INC | US | TRV | 44.48 | $7,964.35 |
| TYSON FOODS INC -CL A | US | TSN | 71.49 | $6,406.36 |
| UDR INC | US | UDR | 476.35 | $22,769.32 |
| U.S. BANCORP | US | USB | 224.01 | $11,888.05 |
| UBISOFT ENTERTAIN-UNSPON ADR | FR | UBSFY | 26,090.58 | $275,516.54 |
| UNILEVER PLC - ADR | GB | UL | 11,990.59 | $579,505.30 |
| UNION PAC CORP | US | UNP | 77.85 | $17,109.08 |
| UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 | US | 35,415.9 | $31,878.53 | |
| UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 | US | 3,152.97 | $2,953.60 | |
| UNITED PARCEL SERVICE | US | UPS | 1,294.66 | $235,951.65 |
| US TREASURY N/B 3.00000 05/15/2047 | US | 229,037.79 | $218,337.43 | |
| US TREASURY N/B 2.00000 02/15/2050 | US | 288,614.09 | $227,689.46 | |
| US TREASURY N/B 2.87500 05/15/2028 | US | 3,309,132.7 | $3,308,098.60 | |
| UNITED STATES TREAS NTS 1.75000 05/15/2023 | US | 350,838.23 | $349,563.70 | |
| US TREASURY N/B 1.62500 05/15/2031 | US | 203,221.39 | $183,788.35 | |
| UNITEDHEALTH GROUP INC | US | UNH | 505.07 | $250,910.99 |
| UNIVERSAL DISPLAY CORP | US | OLED | 2,997.35 | $378,595.28 |
| VF CORP | US | VFC | 68.98 | $3,480.54 |
| VENTAS INC | US | VTR | 231.69 | $13,145.84 |
| VERTEX PHARMACEUTICALS INC | US | VRTX | 1,836.54 | $493,386.16 |
| PARAMOUNT GLOBAL CLASS B | US | PARA | 113.2 | $3,885.98 |
| VISA INC - CLASS A SHARES | US | V | 3,623.56 | $768,811.40 |
| VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 | US | 11,915.26 | $11,695.93 | |
| VISTRA OPERATIONS 4.87500 05/13/2024 | US | 45,013.21 | $45,184.19 | |
| WAL MART STORES | US | WMT | 231.42 | $29,767.66 |
| WALGREENS BOOTS ALLIANCE INC | US | WBA | 123.65 | $5,419.75 |
| WARRIOR MET COAL INC 7.87500 12/01/2028 | US | 11,253.3 | $11,414.23 | |
| WASTE MANAGEMENT INC | US | WM | 60.9 | $9,653.29 |
| WELLTOWER INC. | US | WELL | 267.7 | $23,849.05 |
| ZOETIS INC | US | ZTS | 864.78 | $147,817.38 |
| BNY MELLON CASH RESERVE EOD FUND | US | 55.66 | $55.66 | |
| ADMIRAL GROUP PLC | GB | ADM LN | 1,387.73 | $38,852.82 |
| GRUPO AEROPORTUARIO DEL CENT | MX | OMAB MM | 1,747.57 | $12,593.21 |
| UBISOFT ENTERTAINMENT | FR | UBI FP | 690.29 | $36,290.71 |
| DANONE | FR | BN FP | 327.01 | $19,240.32 |
| AIR LIQUIDE | FR | AI FP | 364.87 | $63,913.81 |
| BRENNTAG AG | DE | BNR GR | 3,331.37 | $257,770.34 |
| KEYWORDS STUDIOS PLC | IE | KWS LN | 285.57 | $8,437.91 |
| S4 CAPITAL PLC | GB | SFOR LN | 5,676.83 | $20,303.64 |
| HELIOS TOWERS PLC | GB | HTWS LN | 5,757.32 | $8,248.75 |
| AVANZA BANK HOLDING AB | SE | AZA SS | 1,178.02 | $28,381.24 |
| AMERICAN TANKER INC 7.75000 07/02/2025 | US | 22,506.6 | $21,381.27 | |
| SOFTWAREONE HOLDING AG | CH | SWON SW | 2,131.38 | $28,466.08 |
| FLAGSHIP COMMUNITIES REIT UT | US | MHC/U CN | 679.43 | $12,012.40 |
| SEASPAN CORP 6.50000 02/05/2024 | MH | 26,478.36 | $26,411.77 | |
| PETROTAL CORP 12.00000 02/16/2024 | CA | 18,005.28 | $18,545.44 | |
| FINECOBANK SPA | IT | FBK IM | 3,763.1 | $53,325.40 |
| ALLFUNDS GROUP PLC | GB | ALLFG NA | 2,264.96 | $20,659.82 |
| COPPER MOUNTAIN MINING C 8.00000 04/09/2026 | CA | 12,974.4 | $12,966.25 | |
| AIRSWIFT GLOBAL AS FLT 10.38899 05/12/2025 | NO | 26,478.36 | $26,522.40 | |
| KENT GLOBAL PLC 10.00000 06/28/2026 | GB | 13,239.18 | $13,106.79 | |
| ROTORK PLC | GB | ROR LN | 7,432.08 | $26,156.53 |
| AUTO TRADER GROUP PLC | GB | AUTO LN | 6,525.46 | $48,544.01 |
| CELLNEX TELECOM SA | ES | CLNX SM | 182.04 | $8,215.26 |
| ASSA ABLOY AB-B | SE | ASSAB SS | 1,618.22 | $39,891.00 |
| CLEANAWAY WASTE MANAGEMENT | AU | CWY AU | 14,717.86 | $31,541.92 |
| INTERMEDIATE CAPITAL GROUP | GB | ICP LN | 1,713.81 | $34,026.34 |
| ADYEN NV | NL | ADYEN NA | 28.07 | $43,466.49 |
| BANK OF N.T. BUTTERFIELD&SON | BM | NTB | 572.59 | $18,082.53 |
| BUNGE LIMITED | US | BG | 35.08 | $4,151.12 |
| EATON CORP PLC | US | ETN | 68.71 | $9,523.39 |
| JOHNSON CONTROLS INTERNATIONAL | US | JCI | 128.42 | $7,000.18 |
| MEDTRONIC INC | IE | MDT | 9,917.87 | $993,274.27 |
| ROYALTY PHARMA PLC- CL A | US | RPRX | 94.13 | $3,872.53 |
| STONECO LTD-A | BR | STNE | 2,011.96 | $20,200.06 |
| TRANE TECHNOLOGIES | IE | TT | 32.97 | $4,551.22 |
| ALCON INC | CH | ALC | 3,818.58 | $285,362.21 |
| CHUBB LTD | CH | CB | 60.24 | $12,727.74 |
| GARMIN LTD | CH | GRMN | 45.15 | $4,768.28 |
| TE CONNECTIVITY LIMITED | CH | TEL | 44.62 | $5,772.87 |
| LYONDELLBASELL INDU-CL A | US | LYB | 48.99 | $5,596.53 |
| PLAYA HOTELS AND RESORTS | US | PLYA | 945.54 | $8,169.48 |
| US DOLLAR | US | 2,323,899.42 | $2,323,899.42 | |
| NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 | MH | 6,619.59 | $6,689.28 | |
| BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 | AE | 24,624.87 | $24,602.37 |
Based on the investments of the underlying fund(s): Manning & Napier Pro-Mix® Maximum Term CIT Fund. Investments will change over time and as the target date fund gradually becomes more conservative. Fund holdings list does not include securities with positions less than 0.005 shares.
A Word About Risk
Each Manning & Napier Retirement Target CIT Fund is invested in one or two of four proprietary risk-based funds, the Manning & Napier Pro-Mix® CIT Funds, based on the Retirement Target CIT Fund becoming increasingly conservative over time. Because the underlying funds invest in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. Investing in target date funds will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk as the underlying investments change over time. Investments in options and futures, like all derivatives, can be highly volatile and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. Also, the use of leverage increases exposure to the market and may magnify potential losses. Principal value is not guaranteed at any time, including at the target date (the approximate year when an investor plans to stop contributions and start periodic withdrawals).
About The Fund Manager
Manning & Napier Advisors, LLC (Manning & Napier) provides investment advisory services to Exeter Trust Company, Trustee of the Manning & Napier Collective Investment Trust Funds. Manning & Napier is headquartered in Rochester, NY and has more than 50 years of experience managing life cycle investment objectives. The Firm’s active management approach focuses on participating in rising markets and, as important, helping to reduce the risk of large losses in sustained bear market periods. A team of investment analysts and professionals make all investment decisions in an effort to provide investors with strong risk-adjusted returns.
Daily Price
$25.26
Daily $ Change
$0.36
Daily % Change
1.43%
as of 06/23/2022
CUSIP
302027859
Inception Date
05/10/2007
This fund is only available for use within certain qualified employee benefit plans.
Important Documents
| Annual Report | |
| Fact Sheet | |
| Applications & Forms |
Each Retirement Target CIT Fund seeks to achieve its investment objectives by investing in a combination of other Manning & Napier CIT Funds (the “underlying CIT Funds”) in order to meet its target asset allocations and investment style. The financial statements of the underlying Pro-Mix® CIT Funds should be read in conjunction with the Retirement Target CIT Funds’ financial statements.
Pro-Mix® CIT Fund Annual Report
Investment Objective
To provide capital growth and manage risk for investors planning to retire in or around the year indicated in the fund’s name.
Investment Strategy
Currently: The portfolio is currently invested in an aggressive, growth-oriented mix of securities that seeks to earn the long-term growth typically associated with the stock market. The portfolio is diversified primarily among various stock investments in both domestic and foreign markets, with only a minor portion of the portfolio invested in fixed income securities. Stock exposure can range from 70% - 95%.
Over Time: The portfolio’s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. During the target year, the portfolio’s stock exposure can range from 20% - 60%. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 13% - 47%.
May be Appropriate for Investors
- Who plan to stop contributions and start periodic withdrawals around the year 2050
- Who generally have time to withstand market volatility and can accept very significant fluctuations in current account value
- Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time
About Target Date Funds
A target date fund is a single investment portfolio designed to meet an investor’s changing needs over time. The fund gradually shifts from a more aggressive to a more conservative investment objective over the years to reflect an appropriate risk/return trade-off for the investor’s changing time horizon.
Performance
As of 05/31/2022
YTD
-14.43%
1 Year
-8.09%
3 Year
12.20%
5 Year
10.21%
10 Year
10.65%
Inception
(01/01/2000)
7.69%
Performance through the inception date of the Retirement Target CIT Class S Units is not the past performance of the Retirement Target CIT Fund and is based on historical performance data of the Manning & Napier Pro-Mix® CIT Fund(s) that would have been held according to the Retirement Target CIT Fund’s glide path. The Retirement Target CIT Fund will gradually become more conservative over time. Returns are net of the Class S expenses. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.
Expense Ratio
| Gross | 0.91% |
| Net | 0.89%* |
*Includes acquired fund fees and expenses of the underlying collective investment trusts and reflects the Trustee’s contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.
Top Ten Investments
As of 05/31/2022
| TREASURY NOTES | 8.55% |
| AMAZON.COM INC | 2.92% |
| MICROSOFT CORP | 2.80% |
| MASTERCARD INC-CLASS A | 2.28% |
| MEDTRONIC INC | 2.21% |
| PAYPAL HOLDINGS INC | 1.97% |
| JOHNSON & JOHNSON | 1.97% |
| COCA COLA CO/THE | 1.97% |
| MONDELEZ INTERNATIONAL INC | 1.87% |
| SERVICENOW INC | 1.77% |
This investment list is unaudited and excludes cash.
Asset Allocation
As of 05/31/2022
| Stocks | 82.54% | |
| Bonds | 12.54% | |
| Cash | 4.92% |
Detailed Asset Class Allocation
As of 05/31/2022
| International Equities | 22.61% | |
| Small Capitalization | 2.21% | |
| Mid Capitalization | 6.68% | |
| Large Capitalization | 51.04% | |
| Long Term Fixed Income | 1.38% | |
| Intermediate Term Fixed Income | 9.90% | |
| Short Term Fixed Income | 1.26% | |
| Cash | 4.92% |
Due to rounding, the sum of the detailed asset class allocation categories may not equal the asset allocation totals provided above.
May Fund Holdings
As of 05/31/2022
| Security Description | Country | Ticker | Shares/Par | Market Value (USD) |
|---|---|---|---|---|
| ABBOTT LABORATORIES | US | ABT | 142.45 | $16,732.60 |
| ACCOR SA-SPONSORED ADR | FR | ACCYY | 34,526.72 | $230,983.75 |
| ACTIVISION INC | US | ATVI | 3,384.86 | $263,612.96 |
| ADIDAS AG-SPONSORED ADR | DE | ADDYY | 1,955.69 | $193,887.25 |
| AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 | IE | 26,478.36 | $23,220.39 | |
| ADYEN NV UNSPON ADR | NL | ADYEY | 23,422.36 | $362,578.10 |
| AGREE REALTY CORP | US | ADC | 120.48 | $8,381.55 |
| AIR LIQUIDE-ADR | FR | AIQUY | 10,197.48 | $355,993.93 |
| AIR LEASE CORP 3.62500 04/01/2027 | US | 26,478.36 | $25,180.80 | |
| ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 | US | 6,689.64 | $7,018.35 | |
| ALIBABA GROUP HOLDING 4.00000 12/06/2037 | KY | 62,224.14 | $54,175.03 | |
| ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 | KY | 33,097.95 | $27,532.37 | |
| ALIGN TECHNOLOGY INC | US | ALGN | 1,205.43 | $334,674.81 |
| ALLSTATE CORPORATION | US | ALL | 51.63 | $7,057.69 |
| ALPHABET INC-CL A | US | GOOGL | 245.32 | $558,166.38 |
| AMAZON.COM INC | US | AMZN | 545.72 | $1,312,012.03 |
| AMAZON.COM INC 3.30000 04/13/2027 | US | 58,252.39 | $58,198.72 | |
| DIAGEO PLC | GB | DGE LN | 8,010.1 | $372,159.48 |
| AMERICAN HOMES 4 RENT- A | US | AMH | 428.95 | $15,853.97 |
| AMERICAN TOWER REIT INC | US | AMT | 64.21 | $16,446.11 |
| ANALOG DEVICES INC | US | ADI | 78.91 | $13,287.69 |
| APPLE HOSPITALITY REIT INC | US | APLE | 1,462.13 | $24,432.27 |
| ARBOR REALTY TRUST INC 8.00000 04/30/2023 | US | 6,619.59 | $6,696.38 | |
| ARCHER-DANIELS-MIDLAND CO | US | ADM | 93.73 | $8,512.87 |
| ARGO BLOCKCHAIN PLC | GB | 476.61 | $9,994.52 | |
| ASHTEAD CAPITAL INC 4.00000 05/01/2028 | US | 26,478.36 | $25,178.31 | |
| AUTOMATIC DATA PROCESSING | US | ADP | 54.68 | $12,189.87 |
| AVALONBAY COMMUNITIES INC | US | AVB | 101.81 | $21,172.26 |
| AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 | KY | 72,815.48 | $63,097.18 | |
| BNSF FUNDING TRUST I 6.61300 12/15/2055 | US | 17,210.93 | $17,423.82 | |
| BANK OF AMERICA CORP 2.68700 04/22/2032 | US | 47,661.04 | $41,699.17 | |
| BARRICK GOLD CORP | CA | GOLD | 7,252.02 | $148,593.99 |
| BAXTER INTERNATIONAL INC | US | BAX | 72.15 | $5,487.28 |
| BEST BUY INC | US | BBY | 49.25 | $4,041.43 |
| BIOMARIN PHARMACEUTICAL INC | US | BMRN | 6,117.29 | $459,592.36 |
| BLACKROCK INC | US | BLK | 677.45 | $453,267.42 |
| BLACKSTONE PRIVATE CRE 2.62500 12/15/2026 | US | 27,802.28 | $24,188.97 | |
| BLACKSTONE SECURED LEND 2.75000 09/16/2026 | US | 27,802.28 | $25,292.94 | |
| DECHRA PHARMACEUTICALS PLC | GB | DPH LN | 724.32 | $33,200.77 |
| BOSTON SCIENTIFIC CORP | US | BSX | 5,707.41 | $234,060.88 |
| BRANDYWINE REALTY TRUST | US | BDN | 727.23 | $8,108.59 |
| BRISTOL MYERS SQUIBB CO | US | BMY | 245.32 | $18,509.54 |
| BROADRIDGE FINANCIAL SOLUTIONS | US | BR | 27.8 | $4,065.25 |
| JONAH ENERGY PARENT LLC | US | 263.59 | $14,144.35 | |
| CBOE GLOBAL MARKETS INC | US | CBOE | 1,868.05 | $209,800.48 |
| CDW CORP/DE | US | CDW | 1,205.96 | $204,843.82 |
| C.H. ROBINSON WORLDWIDE INC | US | CHRW | 34.55 | $3,749.48 |
| COTERRA ENERGY INC | US | CTRA | 126.83 | $4,354.12 |
| CAMDEN PROPERTY TRUST | US | CPT | 98.1 | $14,076.70 |
| CAMECO CORP | CA | CCJ | 468.67 | $11,468.28 |
| CAMPBELL SOUP CO | US | CPB | 78.51 | $3,761.33 |
| CANADIAN NATIONAL RAILWAY CO | CA | CNI | 5,248.01 | $597,118.62 |
| CARETRUST REIT INC | US | CTRE | 485.61 | $8,998.41 |
| CATERPILLAR INC | US | CAT | 69.37 | $14,974.23 |
| CENOVUS ENERGY INC 6.75000 11/15/2039 | CA | 60,900.22 | $68,628.77 | |
| CENTURYLINK INC 7.50000 04/01/2024 | US | 20,520.73 | $21,229.09 | |
| CHARTER COMMUNICATIONS INC-A | US | CHTR | 1,128.51 | $572,074.35 |
| CHEVRON CORP | US | CVX | 131.33 | $22,938.56 |
| CINCINNATI FINANCIAL CORP | US | CINF | 38.13 | $4,875.15 |
| CISCO SYSTEMS INC | US | CSCO | 445.37 | $20,063.74 |
| CITIGROUP INC | US | C | 273.26 | $14,594.64 |
| CITIGROUP INC 1.46200 06/09/2027 | US | 45,013.21 | $40,546.65 | |
| CLARK CNTY NV 1.51000 11/01/2028 | US | 46,337.13 | $40,764.63 | |
| COCA COLA CO/THE | US | KO | 13,940.99 | $883,579.79 |
| COGNEX CORP | US | CGNX | 3,273.39 | $158,497.39 |
| COLGATE-PALMOLIVE CO | US | CL | 131.73 | $10,381.63 |
| COMCAST CORP-CL A | US | CMCSA | 476.74 | $21,110.17 |
| COMMUNITY HEALTHCARE TRUST I | US | CHCT | 253 | $9,533.07 |
| CONAGRA BRAND INC. | US | CAG | 119.55 | $3,931.99 |
| CONOCOPHILLIPS | US | COP | 117.43 | $13,194.60 |
| CONSTELLATION BRANDS INC-A | US | STZ | 2,871.45 | $704,853.72 |
| CONTROLADORA VUELA CIA DE AV | MX | VLRS | 934.16 | $14,554.16 |
| COPART INC | US | CPRT | 1,744.26 | $199,770.30 |
| COUSINS PROPERTIES INC | US | CUZ | 598.94 | $20,693.39 |
| CROWN CASTLE INTL CORP 3.10000 11/15/2029 | US | 33,097.95 | $30,100.31 | |
| CUMMINS INC | US | CMI | 30.19 | $6,312.36 |
| KIMBERLY CLARK DE MEXICO S.A.B. | MX | 20,653.12 | $31,954.85 | |
| DEVON ENERGY CORPORATION | US | DVN | 92.67 | $6,941.30 |
| DIAMONDBACK ENERGY INC | US | FANG | 26.74 | $4,065.49 |
| DIGITAL REALTY TRUST INC | US | DLR | 184.69 | $25,780.39 |
| WALT DISNEY CO/THE | US | DIS | 1,904.32 | $210,313.48 |
| DOLLAR GENERAL CORP | US | DG | 2,385.04 | $525,519.28 |
| DOLLAR TREE STORES INC | US | DLTR | 3,401.28 | $545,326.80 |
| DOMINO'S PIZZA | US | DPZ | 774.36 | $281,224.16 |
| DOUBLEVERIFY HOLDINGS INC | US | DV | 14,642.13 | $325,787.49 |
| DOW INC | US | DOW | 96.25 | $6,543.00 |
| DUKE RLTY INVTS INC | US | DRE | 417.83 | $22,073.88 |
| EOG RESOURCES INC | US | EOG | 63.02 | $8,631.01 |
| EAST WEST BANCORP INC | US | EWBC | 4,465.18 | $328,369.17 |
| EASTMAN CHEM CO | US | EMN | 34.42 | $3,791.91 |
| EBAY INC | US | EBAY | 88.57 | $4,310.71 |
| ECO MATERIAL TECH INC 7.87500 01/31/2027 | US | 11,915.26 | $11,291.02 | |
| ELECTRONIC ARTS | US | EA | 3,662.22 | $507,767.02 |
| EMERSON ELEC CO | US | EMR | 101.68 | $9,014.67 |
| ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 | US | 60,900.22 | $63,685.61 | |
| EQUINIX INC | US | EQIX | 874.98 | $601,188.16 |
| EQUITY LIFESTYLE PROPERTIES | US | ELS | 369.64 | $27,981.59 |
| ESSEX PROPERTY TRUST INC | US | ESS | 62.75 | $17,812.64 |
| EXPEDIA INC | US | EXPE | 1,975.02 | $255,429.42 |
| EXPEDIA GROUP INC 3.25000 02/15/2030 | US | 26,478.36 | $23,413.27 | |
| EXTRA SPACE STORAGE INC | US | EXR | 91.75 | $16,349.41 |
| FMC CORP | US | FMC | 3,976.65 | $487,458.01 |
| FS ENERGY & POWER FUND 7.50000 08/15/2023 | US | 43,689.29 | $44,497.45 | |
| META PLATFORMS INC | US | FB | 3,911.52 | $757,425.83 |
| FEDEX CORPORATION | US | FDX | 1,014.52 | $227,840.51 |
| FIFTH THIRD BANCORP | US | FITB | 145.63 | $5,742.23 |
| GENERAL DYNAMICS CORP | US | GD | 43.95 | $9,885.71 |
| GENERAL MLS INC | US | GIS | 109.36 | $7,638.49 |
| GENUINE PARTS CO | US | GPC | 34.42 | $4,706.50 |
| GETTY REALTY CORP | US | GTY | 327.4 | $9,147.69 |
| GILEAD SCIENCES INC | US | GILD | 194.88 | $12,638.01 |
| GRAPHIC PACKAGING HOLDING CO | US | GPK | 17,881.63 | $398,045.06 |
| GREENIDGE GEN HLD INC | US | 450.13 | $8,966.63 | |
| GRUPO AEROPORTUARIO CEN-ADR | MX | OMAB | 2,213.72 | $127,864.64 |
| GRUPO AEROPORTUARIO PAC-ADR | MX | PAC | 936.67 | $140,856.72 |
| GRUPO AEROPORTUARIO DEL SURESTE | MX | ASR | 636.54 | $138,313.71 |
| AIRBUS SE | FR | AIR FP | 210.11 | $24,623.52 |
| ADIDAS AG | DE | ADS GR | 1,078.6 | $214,282.09 |
| HCA INC 4.12500 06/15/2029 | US | 37,069.7 | $36,085.36 | |
| L'OREAL | FR | OR FP | 27.8 | $9,820.08 |
| HEALTHCARE REALTY TRUST INC | US | HR | 419.15 | $12,184.76 |
| HEALTHCARE TRUST OF AMERICA | US | HTA | 287.42 | $8,637.05 |
| HEINEKEN NV-SPN ADR | NL | HEINY | 6,372.55 | $321,431.23 |
| HESKA CORP | US | HSKA | 2,048.9 | $204,459.26 |
| HOME DEPOT INC | US | HD | 95.85 | $29,019.09 |
| HONEYWELL INTERNATIONAL INC | US | HON | 90.95 | $17,610.35 |
| HUMANA INC | US | HUM | 508.12 | $230,803.20 |
| IDEXX LABORATORIES INC | US | IDXX | 1,008.03 | $394,765.12 |
| KERRY GROUP PLC-A | IE | KYGA ID | 163.64 | $16,934.75 |
| ILLINOIS TOOL WKS INC | US | ITW | 51.9 | $10,798.33 |
| INDEPENDENCE REALTY TRUST IN | US | IRT | 433.85 | $10,199.76 |
| INSPERITY INC | US | NSP | 3,242.27 | $324,454.44 |
| INTEL CORP | US | INTC | 480.98 | $21,365.10 |
| INTERCONTINENTALEXCHANGE INC | US | ICE | 3,567.96 | $365,323.29 |
| INTERNATIONAL FLVRS & FRAGRANCES | US | IFF | 51.63 | $6,824.31 |
| INTUITIVE SURGICAL INC | US | ISRG | 618.67 | $140,833.31 |
| INVITATION HOMES INC | US | INVH | 693.87 | $26,172.60 |
| JP MORGAN CHASE & CO | US | JPM | 2,664.91 | $352,381.61 |
| JPMORGAN CHASE & CO 4.49300 03/24/2031 | US | 67,519.81 | $68,413.28 | |
| JOHNSON & JOHNSON | US | JNJ | 4,924.97 | $884,180.66 |
| KEYCORP | US | KEY | 160.72 | $3,208.04 |
| KROGER CO | US | KR | 127.89 | $6,774.36 |
| L3HARRIS TECHNOLOGIES INC | US | LHX | 1,326.04 | $319,442.10 |
| BEIERSDORF AG | DE | BEI GR | 423.26 | $43,930.37 |
| LENNAR CORP | US | LEN | 48.99 | $3,931.04 |
| LIFE STORAGE INC | US | LSI | 161.12 | $18,812.47 |
| LOCKHEED MARTIN CORP | US | LMT | 33.63 | $14,799.81 |
| LULULEMON - ADR | CA | LULU | 2,181.82 | $638,595.91 |
| MAGALLANES INC 4.05400 03/15/2029 | US | 63,548.06 | $60,919.70 | |
| ATOS SE | FR | ATO FP | 1,270.7 | $33,450.43 |
| MARATHON PETROLEUM CORP | US | MPC | 70.83 | $7,209.75 |
| MARRIOTT VACATIONS WORLD | US | VAC | 68.45 | $10,110.92 |
| MASTERCARD INC-CLASS A | US | MA | 2,863.5 | $1,024,761.44 |
| MCDONALDS CORP | US | MCD | 59.71 | $15,059.13 |
| ACCOR SA | FR | AC FP | 571.4 | $18,801.87 |
| MERCADOLIBRE INC | AR | MELI | 27.93 | $21,953.30 |
| MERCK & CO INC | US | MRK | 256.84 | $23,636.99 |
| MICROSOFT CORP | US | MSFT | 4,620.47 | $1,256,168.09 |
| MICROCHIP TECHNOLOGY INC | US | MCHP | 82.35 | $5,982.56 |
| MID-AMERICA APARTMENT COMM | US | MAA | 129.88 | $23,507.62 |
| MONDELEZ INTERNATIONAL INC | US | MDLZ | 13,192.71 | $838,528.59 |
| MOODY'S CORPORATION | US | MCO | 1,946.03 | $586,863.32 |
| MOTOROLA SOLUTIONS INC | US | MSI | 32.3 | $7,098.39 |
| NAVIENT CORP 6.75000 06/25/2025 | US | 41,703.41 | $42,092.71 | |
| NETAPP INC | US | NTAP | 57.99 | $4,172.21 |
| KEYENCE CORP | JP | 6861 JP | 79.44 | $31,581.52 |
| NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 | US | 12,577.22 | $12,209.39 | |
| NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 | AU | 27,802.28 | $25,271.73 | |
| NEWMONT GOLDCORP CORP | US | NEM | 2,219.28 | $150,578.39 |
| NEXPOINT RESIDENTIAL | US | NXRT | 123.61 | $9,082.96 |
| NORFOLK SOUTHN CORP | US | NSC | 1,249.91 | $299,553.64 |
| NIKON CORP | JP | 7731 JP | 3,336.27 | $41,397.48 |
| NORTHROP GRUMMAN CORP | US | NOC | 685.39 | $320,743.02 |
| NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 | CA | 19,196.81 | $1.92 | |
| NOVARTIS AG- REG | CH | NVS | 4,686.27 | $426,169.58 |
| NUCOR CORP | US | NUE | 47.93 | $6,348.25 |
| NVIDIA CORP | US | NVDA | 795.01 | $148,444.77 |
| OKTA INC | US | OKTA | 2,191.88 | $182,035.50 |
| OMNICOM GROUP | US | OMC | 54.15 | $4,040.00 |
| SONY CORP FIRST SECTION | JP | 6758 JP | 330.98 | $31,042.38 |
| OWL ROCK TECHNOLOGY 3.75000 06/17/2026 | US | 26,478.36 | $24,656.59 | |
| PPG INDUSTRIES INC | US | PPG | 33.89 | $4,287.04 |
| PACKAGING CORP OF AMERICA | US | PKG | 24.89 | $3,914.65 |
| PARKER HANNIFIN CORP | US | PH | 18.93 | $5,152.73 |
| DEUTSCHE BOERSE AG | DE | DB1 GR | 2,522.06 | $423,865.97 |
| PAYPAL HOLDINGS INC | US | PYPL | 10,383.09 | $884,743.15 |
| NESTLE SA-REGISTERED | CH | NESN SW | 5,477.84 | $670,034.53 |
| PFIZER INC | US | PFE | 381.42 | $20,230.56 |
| PIONEER NATURAL RESOURCES CO | US | PXD | 29.39 | $8,168.93 |
| POPULAR INC 6.12500 09/14/2023 | PR | 21,182.69 | $21,422.44 | |
| PROCTER & GAMBLE CO | US | PG | 211.56 | $31,285.80 |
| PROLOGIS | US | PLD | 640.11 | $81,601.77 |
| PUBLIC STORAGE INC | US | PSA | 116.24 | $38,433.59 |
| QUALCOMM INC | US | QCOM | 128.82 | $18,449.20 |
| QUALCOMM INC 4.25000 05/20/2032 | US | 52,956.71 | $54,988.56 | |
| QUEST DIAGNOSTICS INC | US | DGX | 31.51 | $4,443.43 |
| RADIUS GLOBAL INFRASTRUCTURE | US | RADI | 2,137.2 | $31,844.29 |
| RAILWORKS HOLDINGS LP/R 8.25000 11/15/2028 | US | 24,492.48 | $23,701.33 | |
| REGIONS FINANCIAL CORP. | US | RF | 230.89 | $5,100.39 |
| REPUBLIC SERVICES INC | US | RSG | 56 | $7,495.27 |
| RESTAURANT BRANDS INTERN | CA | QSR | 364.61 | $19,145.51 |
| REXFORD INDUSTRIAL REALITY IN | US | REXR | 395.32 | $25,249.21 |
| GETINGE AB-B SHS | SE | GETIB SS | 1,081.91 | $31,398.21 |
| ROSS STORES INC | US | ROST | 45.15 | $3,838.28 |
| HEINEKEN NV | NL | HEIA NA | 285.44 | $28,701.53 |
| RYANAIR HOLDINGS - ADR | IE | RYAAY | 4,337.68 | $378,246.09 |
| S&P GLOBAL INC | US | SPGI | 1,077.14 | $376,438.74 |
| SBA COMMUNICATIONS CORP | US | SBAC | 2,159.71 | $726,979.04 |
| NAVIENT CORP 5.50000 01/25/2023 | US | 11,915.26 | $11,965.35 | |
| SALESFORCE INC | US | CRM | 3,167.34 | $507,534.74 |
| SEA LTD - ADR | SG | SE | 6,043.02 | $499,516.29 |
| SEAGEN INC | US | SGEN | 3,968.97 | $538,510.31 |
| SERVICENOW INC | US | NOW | 1,696.34 | $792,986.17 |
| SHOPIFY INC | CA | SHOP | 32.3 | $12,117.72 |
| SIMON PROPERTY GROUP LP 2.65000 02/01/2032 | US | 83,406.83 | $72,033.09 | |
| SKYWORKS SOLUTIONS INC | US | SWKS | 28.46 | $3,098.90 |
| JM SMUCKER CO/THE-NEW COM WI | US | SJM | 28.73 | $3,601.76 |
| SNOWFLAKE INC-CLASS A | US | SNOW | 1,519.33 | $193,942.24 |
| SONY CORP SPONSORED ADR | JP | SONY | 5,797.7 | $545,389.74 |
| SOUTHWEST AIRLINES CO 5.12500 06/15/2027 | US | 48,984.96 | $51,073.80 | |
| STANLEY BLACK & DECKER INC | US | SWK | 27.01 | $3,205.57 |
| STEEL DYNAMICS INC | US | STLD | 47.53 | $4,058.00 |
| SUN COMMUNITIES | US | SUI | 192.37 | $31,572.91 |
| SYNCHRONOSS TECH | US | 912.18 | $20,232.14 | |
| SYNERGY ONE LENDING 5.50000 10/14/2026 | US | 23,168.56 | $20,666.48 | |
| TJX COMPANIES INC | US | TJX | 125.11 | $7,953.26 |
| TACORA RESOURCES INC 8.25000 05/15/2026 | CA | 11,915.26 | $11,368.42 | |
| TAIWAN SEMICONDUCTOR - SP ADR | TW | TSM | 4,169.55 | $397,357.82 |
| TARGET CORP | US | TGT | 48.99 | $7,929.69 |
| TENCENT HOLDINGS 3.97500 04/11/2029 | KY | 107,237.35 | $103,327.48 | |
| TERRENO REALTY CORP | US | TRNO | 220.56 | $13,390.48 |
| TEXAS INSTRUMENTS INC | US | TXN | 81.69 | $14,438.77 |
| THERMO FISHER SCIENTIFIC INC | US | TMO | 791.31 | $449,121.38 |
| 3M CO | US | MMM | 86.72 | $12,945.92 |
| TRACTOR SUPPLY COMPANY | US | TSCO | 18.14 | $3,398.27 |
| TRAVELLERS COS INC | US | TRV | 44.48 | $7,964.35 |
| TYSON FOODS INC -CL A | US | TSN | 71.49 | $6,406.36 |
| UDR INC | US | UDR | 476.35 | $22,769.32 |
| U.S. BANCORP | US | USB | 224.01 | $11,888.05 |
| UBISOFT ENTERTAIN-UNSPON ADR | FR | UBSFY | 26,090.58 | $275,516.54 |
| UNILEVER PLC - ADR | GB | UL | 11,990.59 | $579,505.30 |
| UNION PAC CORP | US | UNP | 77.85 | $17,109.08 |
| UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 | US | 35,415.9 | $31,878.53 | |
| UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 | US | 3,152.97 | $2,953.60 | |
| UNITED PARCEL SERVICE | US | UPS | 1,294.66 | $235,951.65 |
| US TREASURY N/B 3.00000 05/15/2047 | US | 229,037.79 | $218,337.43 | |
| US TREASURY N/B 2.00000 02/15/2050 | US | 288,614.09 | $227,689.46 | |
| US TREASURY N/B 2.87500 05/15/2028 | US | 3,309,132.7 | $3,308,098.60 | |
| UNITED STATES TREAS NTS 1.75000 05/15/2023 | US | 350,838.23 | $349,563.70 | |
| US TREASURY N/B 1.62500 05/15/2031 | US | 203,221.39 | $183,788.35 | |
| UNITEDHEALTH GROUP INC | US | UNH | 505.07 | $250,910.99 |
| UNIVERSAL DISPLAY CORP | US | OLED | 2,997.35 | $378,595.28 |
| VF CORP | US | VFC | 68.98 | $3,480.54 |
| VENTAS INC | US | VTR | 231.69 | $13,145.84 |
| VERTEX PHARMACEUTICALS INC | US | VRTX | 1,836.54 | $493,386.16 |
| PARAMOUNT GLOBAL CLASS B | US | PARA | 113.2 | $3,885.98 |
| VISA INC - CLASS A SHARES | US | V | 3,623.56 | $768,811.40 |
| VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 | US | 11,915.26 | $11,695.93 | |
| VISTRA OPERATIONS 4.87500 05/13/2024 | US | 45,013.21 | $45,184.19 | |
| WAL MART STORES | US | WMT | 231.42 | $29,767.66 |
| WALGREENS BOOTS ALLIANCE INC | US | WBA | 123.65 | $5,419.75 |
| WARRIOR MET COAL INC 7.87500 12/01/2028 | US | 11,253.3 | $11,414.23 | |
| WASTE MANAGEMENT INC | US | WM | 60.9 | $9,653.29 |
| WELLTOWER INC. | US | WELL | 267.7 | $23,849.05 |
| ZOETIS INC | US | ZTS | 864.78 | $147,817.38 |
| BNY MELLON CASH RESERVE EOD FUND | US | 55.66 | $55.66 | |
| ADMIRAL GROUP PLC | GB | ADM LN | 1,387.73 | $38,852.82 |
| GRUPO AEROPORTUARIO DEL CENT | MX | OMAB MM | 1,747.57 | $12,593.21 |
| UBISOFT ENTERTAINMENT | FR | UBI FP | 690.29 | $36,290.71 |
| DANONE | FR | BN FP | 327.01 | $19,240.32 |
| AIR LIQUIDE | FR | AI FP | 364.87 | $63,913.81 |
| BRENNTAG AG | DE | BNR GR | 3,331.37 | $257,770.34 |
| KEYWORDS STUDIOS PLC | IE | KWS LN | 285.57 | $8,437.91 |
| S4 CAPITAL PLC | GB | SFOR LN | 5,676.83 | $20,303.64 |
| HELIOS TOWERS PLC | GB | HTWS LN | 5,757.32 | $8,248.75 |
| AVANZA BANK HOLDING AB | SE | AZA SS | 1,178.02 | $28,381.24 |
| AMERICAN TANKER INC 7.75000 07/02/2025 | US | 22,506.6 | $21,381.27 | |
| SOFTWAREONE HOLDING AG | CH | SWON SW | 2,131.38 | $28,466.08 |
| FLAGSHIP COMMUNITIES REIT UT | US | MHC/U CN | 679.43 | $12,012.40 |
| SEASPAN CORP 6.50000 02/05/2024 | MH | 26,478.36 | $26,411.77 | |
| PETROTAL CORP 12.00000 02/16/2024 | CA | 18,005.28 | $18,545.44 | |
| FINECOBANK SPA | IT | FBK IM | 3,763.1 | $53,325.40 |
| ALLFUNDS GROUP PLC | GB | ALLFG NA | 2,264.96 | $20,659.82 |
| COPPER MOUNTAIN MINING C 8.00000 04/09/2026 | CA | 12,974.4 | $12,966.25 | |
| AIRSWIFT GLOBAL AS FLT 10.38899 05/12/2025 | NO | 26,478.36 | $26,522.40 | |
| KENT GLOBAL PLC 10.00000 06/28/2026 | GB | 13,239.18 | $13,106.79 | |
| ROTORK PLC | GB | ROR LN | 7,432.08 | $26,156.53 |
| AUTO TRADER GROUP PLC | GB | AUTO LN | 6,525.46 | $48,544.01 |
| CELLNEX TELECOM SA | ES | CLNX SM | 182.04 | $8,215.26 |
| ASSA ABLOY AB-B | SE | ASSAB SS | 1,618.22 | $39,891.00 |
| CLEANAWAY WASTE MANAGEMENT | AU | CWY AU | 14,717.86 | $31,541.92 |
| INTERMEDIATE CAPITAL GROUP | GB | ICP LN | 1,713.81 | $34,026.34 |
| ADYEN NV | NL | ADYEN NA | 28.07 | $43,466.49 |
| BANK OF N.T. BUTTERFIELD&SON | BM | NTB | 572.59 | $18,082.53 |
| BUNGE LIMITED | US | BG | 35.08 | $4,151.12 |
| EATON CORP PLC | US | ETN | 68.71 | $9,523.39 |
| JOHNSON CONTROLS INTERNATIONAL | US | JCI | 128.42 | $7,000.18 |
| MEDTRONIC INC | IE | MDT | 9,917.87 | $993,274.27 |
| ROYALTY PHARMA PLC- CL A | US | RPRX | 94.13 | $3,872.53 |
| STONECO LTD-A | BR | STNE | 2,011.96 | $20,200.06 |
| TRANE TECHNOLOGIES | IE | TT | 32.97 | $4,551.22 |
| ALCON INC | CH | ALC | 3,818.58 | $285,362.21 |
| CHUBB LTD | CH | CB | 60.24 | $12,727.74 |
| GARMIN LTD | CH | GRMN | 45.15 | $4,768.28 |
| TE CONNECTIVITY LIMITED | CH | TEL | 44.62 | $5,772.87 |
| LYONDELLBASELL INDU-CL A | US | LYB | 48.99 | $5,596.53 |
| PLAYA HOTELS AND RESORTS | US | PLYA | 945.54 | $8,169.48 |
| US DOLLAR | US | 2,323,899.42 | $2,323,899.42 | |
| NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 | MH | 6,619.59 | $6,689.28 | |
| BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 | AE | 24,624.87 | $24,602.37 |
Based on the investments of the underlying fund(s): Manning & Napier Pro-Mix® Maximum Term CIT Fund. Investments will change over time and as the target date fund gradually becomes more conservative. Fund holdings list does not include securities with positions less than 0.005 shares.
A Word About Risk
Each Manning & Napier Retirement Target CIT Fund is invested in one or two of four proprietary risk-based funds, the Manning & Napier Pro-Mix® CIT Funds, based on the Retirement Target CIT Fund becoming increasingly conservative over time. Because the underlying funds invest in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. Investing in target date funds will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk as the underlying investments change over time. Investments in options and futures, like all derivatives, can be highly volatile and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. Also, the use of leverage increases exposure to the market and may magnify potential losses. Principal value is not guaranteed at any time, including at the target date (the approximate year when an investor plans to stop contributions and start periodic withdrawals).
About The Fund Manager
Manning & Napier Advisors, LLC (Manning & Napier) provides investment advisory services to Exeter Trust Company, Trustee of the Manning & Napier Collective Investment Trust Funds. Manning & Napier is headquartered in Rochester, NY and has more than 50 years of experience managing life cycle investment objectives. The Firm’s active management approach focuses on participating in rising markets and, as important, helping to reduce the risk of large losses in sustained bear market periods. A team of investment analysts and professionals make all investment decisions in an effort to provide investors with strong risk-adjusted returns.
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