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 15% - 45%.

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.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Daily Price

$13.20

Daily $ Change

$0.16

Daily % Change

1.21%

as of 04/09/2020

CUSIP

56382R795

Inception Date

05/14/2015

This fund is available only 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 03/31/2020

YTD

-15.51%

1 Year

-4.40%

3 Year

5.48%

5 Year

4.90%

10 Year

7.33%

Inception
(01/01/2000)

7.02%

US Stock Market Cycle (04/01/2000 - 03/31/2020)

7.15%

Performance through the inception date of the Retirement Target CIT Class U1 units is based on the historical performance of the CIT’s oldest unit class. Performance through the inception date of the oldest unit class (05/10/2007) 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. Returns are net of the Class U1 expenses. The Retirement Target CIT Fund will gradually become more conservative over time. 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 0.50%
Net 0.49%*

*Includes acquired fund fees and expenses of the underlying collective investment trusts and reflects the Trustee’s contractual agreement to limit its fees and voluntary agreement to reimburse certain expenses.

Top Ten Investments

As of 03/31/2020

TREASURY NOTES 5.11%
FACEBOOK INC -A 2.33%
COCA COLA CO/THE 2.28%
MICROSOFT CORP 2.13%
MONDELEZ INTERNATIONAL INC 2.12%
NEXON CO LTD 2.07%
CABOT OIL & GAS CORP 1.87%
BOOKING HOLDINGS INC 1.87%
AMAZON.COM INC 1.84%
JOHNSON & JOHNSON 1.73%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 03/31/2020

Stocks 88.20%
Bonds 11.80%

Detailed Asset Class Allocation

As of 03/31/2020

International Equities 26.32%
Small Capitalization 0.83%
Mid Capitalization 4.76%
Large Capitalization 56.28%
Long Term Fixed Income 2.38%
Intermediate Term Fixed Income 5.92%
Short Term Fixed Income 3.51%

Due to rounding, the sum of the detailed asset class allocation categories may not equal the asset allocation totals provided above.

March Fund Holdings

As of 03/31/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAK2 ADT SEC CORP 6.25000 10/15/2021 US 2,644.42 $2,584.92
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 89,910.21 $95,499.80
00287Y109 ABBVIE INC US ABBV 251.22 $19,140.43
004239109 ACADIA REALTY TRUST US AKR 223.01 $2,763.13
00489LAA1 ACRISURE LLC / FIN INC 7.00000 11/15/2025 US 2,644.42 $2,274.20
00507V109 ACTIVISION INC US ATVI 10,522.14 $625,856.80
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 54,651.3 $46,270.56
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 3,525.89 $3,067.52
008492100 AGREE REALTY CORP US ADC 59.94 $3,710.29
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 56,414.25 $47,382.57
00912XBA1 AIR LEASE CORP 3.25000 03/01/2025 US 5,288.84 $4,145.02
013092AC5 ALBERTSONS COS/SAFEWAY 4.62500 01/15/2027 US 3,525.89 $3,508.26
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 22.92 $3,141.18
01609W102 ALIBABA GROUP - ADR CN BABA 1,333.67 $259,371.77
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 70,517.81 $73,919.18
020002101 ALLSTATE CORPORATION US ALL 73.87 $6,775.86
02005NBF6 ALLY FINANCIAL INC 5.75000 11/20/2025 US 4,407.36 $4,311.28
02079K107 ALPHABET INC-CL C US GOOG 439.85 $511,467.60
02079K305 ALPHABET INC-CL A US GOOGL 440.74 $512,113.55
02154CAE3 ALTICE FINANCING SA 7.50000 05/15/2026 LU 4,407.36 $4,270.29
023135106 AMAZON.COM INC US AMZN 444.26 $866,186.89
02319V103 AMBEV SA-ADR BR ABEV 133,500.79 $307,051.82
0237400 DIAGEO PLC GB DGE LN 11,555.93 $366,432.19
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 221.25 $6,139.68
02665T306 AMERICAN HOMES 4 RENT- A US AMH 468.06 $10,859.04
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 1,762.95 $1,586.66
03027X100 AMERICAN TOWER REIT INC US AMT 2,587.12 $563,345.84
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 93,436.1 $94,585.36
03064D108 AMERICOLD REALTY TRUST US COLD 339.37 $11,552.05
032654105 ANALOG DEVICES INC US ADI 69.28 $6,211.29
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 2,644.42 $1,692.43
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 3,525.89 $2,256.57
03748R754 APARTMENT INVT & MGMT CO -A US AIV 232.71 $8,179.71
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 149.85 $5,271.74
045086AF2 ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 US 3,525.89 $2,820.71
053015103 AUTOMATIC DATA PROCESSING US ADP 66.29 $9,060.07
053332102 AUTOZONE INC US AZO 427.51 $361,677.03
053484101 AVALONBAY COMMUNITIES INC US AVB 97.84 $14,399.62
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 63,466.03 $49,772.13
055622104 BP PLC-SPONS ADR GB BP 3,577.02 $87,243.42
05722G100 BAKER HUGHES CO US BKR 310.63 $3,261.62
060505104 BANK OF AMERICA CORP US BAC 1,099.55 $23,343.42
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 141,035.62 $148,424.64
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 4,028.33 $736,499.55
086516101 BEST BUY INC US BBY 83.39 $4,753.08
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 5,138.99 $434,244.26
09247X101 BLACKROCK INC US BLK 1,453.55 $639,517.66
0946580 WEIR GROUP PLC/THE GB WEIR LN 2,028.27 $18,039.65
09857L108 BOOKING HOLDINGS INC US BKNG 654.05 $879,910.15
101121101 BOSTON PROPERTIES INC US BXP 102.78 $9,479.37
101137107 BOSTON SCIENTIFIC CORP US BSX 5,674.04 $185,143.90
105368203 BRANDYWINE REALTY TRUST US BDN 526.24 $5,536.04
110122108 BRISTOL MYERS SQUIBB CO US BMY 340.6 $18,985.10
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 8,814.73 $617.03
1248EPCE1 CCO HLDGS LLC/CAP CORP 4.50000 08/15/2030 US 2,644.42 $2,591.53
12503M108 CBOE GLOBAL MARKETS INC US CBOE 3,937.54 $351,425.28
12527GAC7 CF INDUSTRIES 3.45000 06/01/2023 US 4,407.36 $4,330.54
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 56.06 $3,711.28
12572Q105 CME GROUP INC US CME 1,963.92 $339,581.58
127097103 CABOT OIL & GAS CORP US COG 51,299.94 $881,846.02
131477AT8 CALUMET SPECIALTY PROD 11.00000 04/15/2025 US 4,407.36 $3,174.84
133131102 CAMDEN PROPERTY TRUST US CPT 147.21 $11,664.60
13321L108 CAMECO CORP CA CCJ 3,518.31 $26,879.89
14180LAA4 CARGO AIRCRAFT MANAGEMENT 4.75000 02/01/2028 US 7,051.78 $6,540.53
143905AN7 CARRIAGE SERVICES INC 6.62500 06/01/2026 US 4,407.36 $4,330.23
149123101 CATERPILLAR INC US CAT 114.77 $13,317.65
156700AW6 CENTURYLINK INC 5.62500 04/01/2020 US 2,644.42 $2,644.42
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 505.08 $220,373.12
166764100 CHEVRON CORP US CVX 2,730.8 $197,873.92
172062101 CINCINNATI FINANCIAL CORP US CINF 41.08 $3,099.23
17275R102 CISCO SYSTEMS INC US CSCO 636.07 $25,003.94
172967424 CITIGROUP INC US C 330.38 $13,915.43
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 26,444.18 $41,478.96
191216100 COCA COLA CO/THE US KO 24,252.84 $1,073,188.06
194162103 COLGATE-PALMOLIVE CO US CL 178.41 $11,839.29
20030N101 COMCAST CORP-CL A US CMCSA 500.85 $17,219.32
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 74,043.7 $76,434.11
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 178.06 $6,816.04
20451NAG6 COMPASS MINERALS INTERNA 6.75000 12/01/2027 US 4,407.36 $3,978.75
205887102 CONAGRA BRAND INC. US CAG 159.37 $4,675.92
20825C104 CONOCOPHILLIPS US COP 6,333.73 $195,078.99
21036P108 CONSTELLATION BRANDS INC-A US STZ 1,606.4 $230,292.89
217204106 COPART INC US CPRT 2,960.87 $202,878.57
222795502 COUSINS PROPERTIES INC US CUZ 349.77 $10,237.72
225310AN1 CREDIT ACCEPTANC 5.12500 12/31/2024 US 2,644.42 $2,406.42
22822V101 CROWN CASTLE INTL CORP US CCI 66.11 $9,546.35
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 102,250.82 $97,950.44
231021106 CUMMINS INC US CMI 45.31 $6,131.04
23110AAA4 CUMULUS MEDIA NEW HLDGS 6.75000 07/01/2026 US 7,051.78 $6,311.34
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 1,634.25 $8,349.51
253868103 DIGITAL REALTY TRUST INC US DLR 148.97 $20,693.27
254687106 WALT DISNEY CO/THE US DIS 3,256.16 $314,545.04
254709AP3 DISCOVER FINANCIAL SVS 4.50000 01/30/2026 US 5,288.84 $5,394.50
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 86,384.32 $87,038.53
256677105 DOLLAR GENERAL CORP US DG 5,351.42 $808,117.97
256746108 DOLLAR TREE STORES INC US DLTR 8,481.53 $623,137.97
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 8,814.73 $8,285.84
25960P109 DOUGLAS EMMETT INC US DEI 230.95 $7,046.16
260003108 DOVER CORP US DOV 37.02 $3,107.61
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 35,258.9 $35,347.05
26875P101 EOG RESOURCES INC US EOG 8,591.71 $308,614.35
2715777 QUEBECOR INC -CL B CA QBR/B CN 15,422.24 $340,926.62
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 20,131.95 $326,591.69
285512109 ELECTRONIC ARTS US EA 7,589.48 $760,238.13
2866857 LUNDIN MINING CORP CA LUN CN 2,095.26 $7,876.02
291011104 EMERSON ELEC CO US EMR 168.01 $8,005.61
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 63,466.03 $57,787.82
29413XAD9 ENVIVA PARTNERS LP/FIN C 6.50000 01/15/2026 US 4,407.36 $4,297.18
29444U700 EQUINIX INC US EQIX 821.71 $513,214.65
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 171.89 $9,880.07
29476L107 EQUITY RESIDENTIAL US EQR 154.26 $9,519.24
29670E107 ESSENTIAL PROPERTIES REALTY US EPRT 295.82 $3,863.44
297178105 ESSEX PROPERTY TRUST INC US ESS 27.68 $6,095.86
30212P303 EXPEDIA INC US EXPE 8,596.12 $483,703.72
30212PAP0 EXPEDIA INC 3.80000 02/15/2028 US 54,651.3 $47,240.13
30225T102 EXTRA SPACE STORAGE INC US EXR 31.73 $3,038.75
30303M102 FACEBOOK INC -A US FB 6,576.67 $1,096,988.08
311900104 FASTENAL CO US FAST 182.99 $5,718.55
315786AC7 FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 US 7,051.78 $6,965.75
316773100 FIFTH THIRD BANCORP US FITB 209.79 $3,115.39
32054K103 FIRST INDUSTRIAL REALTY TR US FR 119 $3,954.33
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 4,407.36 $3,790.33
339750101 FLOOR & DECOR HOLDINGS INC -A US FND 6,054.84 $194,299.67
346232AE1 FORESTAR GROUP INC 5.00000 03/01/2028 US 4,407.36 $3,659.74
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 6,170.31 $4,519.75
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 6,170.31 $4,812.84
35671D857 FREEPORT-MCMORAN INC US FCX 27,517.81 $185,745.23
36166LAA5 GEMS MENASA KY LTD/GEMS 7.12500 07/31/2026 AE 4,407.36 $3,669.13
369550108 GENERAL DYNAMICS CORP US GD 61.17 $8,093.96
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 44,073.63 $36,360.75
370334104 GENERAL MLS INC US GIS 153.38 $8,093.66
37185LAL6 GENESIS ENERGY LP/FIN 7.75000 02/01/2028 US 4,407.36 $3,068.41
372460105 GENUINE PARTS CO US GPC 57.3 $3,857.72
374297109 GETTY REALTY CORP US GTY 127.81 $3,034.29
375558103 GILEAD SCIENCES INC US GILD 226.01 $16,896.48
384802104 WW GRAINGER INC US GWW 13.05 $3,241.88
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 25,434.01 $310,294.93
38869PAK0 GRAPHIC PACKAGING INTERN 4.75000 04/15/2021 US 3,525.89 $3,482.87
398433AN2 GRIFFON CORPORATION 5.75000 03/01/2028 US 5,288.84 $4,971.51
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 180.7 $9,747.06
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 115.47 $10,870.62
4031976 ADIDAS AG DE ADS GR 1,466.77 $325,663.38
404119BX6 HCA INC 4.12500 06/15/2029 US 70,517.81 $70,639.29
404139AD9 HC2 HOLDINGS INC 11.50000 12/01/2021 US 2,644.42 $2,459.31
416515104 HARTFORD FINL SVCS US HIG 107.72 $3,795.91
421946104 HEALTHCARE REALTY TRUST INC US HR 173.65 $4,850.05
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 113.71 $2,760.88
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 416.94 $9,943.94
427866108 HERSHEY CO/THE US HSY 56.41 $7,474.89
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 76.69 $5,233.20
437076102 HOME DEPOT INC US HD 151.44 $28,274.80
438516106 HONEYWELL INTERNATIONAL INC US HON 129.05 $17,265.28
440452100 HORMEL FOODS CORP US HRL 109.48 $5,106.10
44107P104 HOST MARRIOTT CORP US HST 314.69 $3,474.13
450913AE8 IAMGOLD CORP 7.00000 04/15/2025 CA 4,407.36 $4,098.85
452308109 ILLINOIS TOOL WKS INC US ITW 73.87 $10,498.04
45337C102 INCYTE CORP US INCY 1,933.95 $141,623.23
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 4,407.36 $3,503.85
45781V101 INNOVATIVE INDUSTRIAL PROPER US IIPR 70.17 $5,327.65
458140100 INTEL CORP US INTC 589 $31,876.68
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 4,120 $332,690.24
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 160.25 $17,776.72
459506101 INTERNATIONAL FLVRS & FRAGRANCES US IFF 27.5 $2,807.40
46120E602 INTUITIVE SURGICAL INC US ISRG 305.87 $151,470.38
46187W107 INVITATION HOMES INC US INVH 687.02 $14,681.61
46284PAP9 IRON MOUNTAIN INC 5.75000 08/15/2024 US 5,288.84 $5,262.39
46625H100 JP MORGAN CHASE & CO US JPM 363.34 $32,711.77
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 70,517.81 $74,719.00
4741844 MERCK KGAA DE MRK GR 2,096.14 $211,631.06
476405105 JERNIGAN CAPITAL INC US JCAP 308.52 $3,381.33
478160104 JOHNSON & JOHNSON US JNJ 6,211.56 $814,522.02
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 6,170.31 $277.66
482480100 KLA-TENCOR CORPORATION US KLAC 45.31 $6,512.53
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 4,407.36 $4,429.40
49427F108 KILROY REALTY CORP US KRC 217.55 $13,857.77
494368103 KIMBERLY CLARK CORP US KMB 77.22 $9,873.74
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 75,806.64 $78,846.30
501044101 KROGER CO US KR 224.25 $6,754.31
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 7,933.25 $6,901.93
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 4,407.36 $3,702.18
5107401 BEIERSDORF AG DE BEI GR 4,409.13 $443,958.76
516806AG1 LAREDO PETROLEUM INC 10.12500 01/15/2028 US 4,407.36 $1,674.80
53223X107 LIFE STORAGE INC US LSI 28.21 $2,666.98
532457108 ELI LILLY & CO US LLY 110.71 $15,358.10
539830109 LOCKHEED MARTIN CORP US LMT 49.36 $16,731.41
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 2,644.42 $482.61
550021109 LULULEMON - ADR CA LULU 3,654.06 $692,626.42
56585A102 MARATHON PETROLEUM CORP US MPC 188.11 $4,443.07
57636Q104 MASTERCARD INC-CLASS A US MA 3,313.46 $800,398.32
58933Y105 MERCK & CO INC US MRK 2,338.55 $179,927.79
594918104 MICROSOFT CORP US MSFT 6,342.2 $1,000,227.65
595112103 MICRON TECHNOLOGY INC US MU 17,517.51 $736,786.27
59522J103 MID-AMERICA APARTMENT COMM US MAA 44.96 $4,631.72
60871R209 MOLSON COORS BREWING CO -B US TAP 79.51 $3,101.64
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 19,925.51 $997,869.65
615369105 MOODY'S CORPORATION US MCO 2,058.24 $435,317.45
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 2,644.42 $766.88
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 2,644.42 $1,903.98
6253983 ARISTOCRAT LEISURE LTD AU ALL AU 1,567.26 $20,308.00
6356934 FANUC LTD JP 6954 JP 123.41 $16,490.25
637417106 NATIONAL RETAIL PROPERTIES US NNN 100.49 $3,234.70
63938CAA6 NAVIENT CORP 5.00000 10/26/2020 US 4,407.36 $4,341.25
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 2,644.42 $2,432.86
64110D104 NETAPP INC US NTAP 77.57 $3,233.88
6490995 KEYENCE CORP JP 6861 JP 123.41 $39,676.63
65342QAK8 NEXTERA ENERGY OPERATING 4.25000 07/15/2024 US 3,525.89 $3,437.74
65409QBB7 NIELSEN FINANCE LLC/CO 5.00000 04/15/2022 US 4,407.36 $4,062.80
654106103 NIKE INC CLASS B US NKE 7,879.48 $651,948.48
655844108 NORFOLK SOUTHN CORP US NSC 45.48 $6,640.66
6642321 NIKON CORP JP 7731 JP 23,711.61 $217,631.49
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 6,170.31 $3,023.45
66987V109 NOVARTIS AG- REG CH NVS 5,742.79 $473,493.37
670346105 NUCOR CORP US NUE 110.71 $3,987.88
67059TAD7 NUSTAR LOGISTICS LP 6.75000 02/01/2021 US 2,644.42 $2,102.31
67066G104 NVIDIA CORP US NVDA 1,373.33 $362,010.93
67401PAB4 OAKTREE SPECIALTY LEND 3.50000 02/25/2025 US 4,407.36 $3,953.13
6742340 SHANDONG WEIGAO CN 1066 HK 28,912.3 $36,295.27
675232AB8 OCEANEERING INTL INC 6.00000 02/01/2028 US 4,407.36 $1,687.65
6821506 SONY CORP FIRST SECTION JP 6758 JP 846.21 $50,124.27
68245XAE9 1011778 BC / NEW RED FIN 5.00000 10/15/2025 CA 4,407.36 $4,208.99
68389X105 ORACLE CORP US ORCL 341.84 $16,520.89
69318FAH1 PBF HOLDING CO LLC 6.00000 02/15/2028 US 4,407.36 $2,908.86
693475105 PNC FINANCIAL SERVICES GROUP US PNC 70.87 $6,783.71
7021963 DEUTSCHE BOERSE AG DE DB1 GR 3,348.71 $460,060.35
70450Y103 PAYPAL HOLDINGS INC US PYPL 7,288.9 $697,839.00
7123870 NESTLE SA-REGISTERED CH NESN SW 5,054.36 $517,404.10
713448108 PEPSICO INC US PEP 2,393.2 $287,423.10
717081103 PFIZER INC US PFE 820.65 $26,786.05
719245AD4 PHOTO HOLDINGS MERGER SU 8.50000 10/01/2026 US 4,407.36 $3,569.96
71943U104 PHYSICIANS REALTY TRUST US DOC 342.89 $4,779.93
733174AK2 POPULAR INC 6.12500 09/14/2023 PR 4,407.36 $4,076.81
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 82,858.43 $80,811.26
74166MAB2 PRIME SECSRVC BRW/FINANC 5.25000 04/15/2024 US 4,407.36 $4,353.55
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 2,644.42 $2,591.53
74166MAE6 PRIME SECSRVC BRW/FINANC 6.25000 01/15/2028 US 6,170.31 $5,321.89
74340W103 PROLOGIS US PLD 423.46 $34,033.44
74460D109 PUBLIC STORAGE INC US PSA 73.16 $14,530.75
747525103 QUALCOMM INC US QCOM 160.6 $10,864.88
74834L100 QUEST DIAGNOSTICS INC US DGX 46.72 $3,751.46
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 6,170.31 $6,077.75
755111507 RAYTHEON COMPANY US RTN 50.6 $6,635.73
756109104 REALTY INCOME CORP US O 66.99 $3,340.22
7591EP100 REGIONS FINANCIAL CORP. US RF 313.1 $2,808.50
76131D103 RESTAURANT BRANDS INTERN CA QSR 814.48 $32,603.66
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 37.9 $1,554.42
7698356 GETINGE AB-B SHS SE GETIB SS 1,455.31 $27,518.65
773903109 ROCKWELL AUTOMATION INC US ROK 32.44 $4,895.25
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 2,694.66 $88,007.65
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 7,109.96 $377,467.68
78409V104 S&P GLOBAL INC US SPGI 1,757.66 $430,713.70
78410G104 SBA COMMUNICATIONS CORP US SBAC 2,066.17 $557,804.40
78410GAC8 SBA COMMUNICATIONS CORP 3.87500 02/15/2027 US 3,525.89 $3,534.71
78442PGC4 SLM CORP 5.12500 04/05/2022 US 6,170.31 $5,306.47
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 109,302.6 $98,897.01
79466L302 SALESFORCE.COM US CRM 2,037.08 $293,299.24
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 93,436.1 $95,324.16
806857108 SCHLUMBERGER LTD NL SLB 12,000.54 $161,887.34
808625AA5 SCIENCE APPLICATIONS INT 4.87500 04/01/2028 US 5,288.84 $5,077.28
81141R100 SEA LTD - ADR SG SE 5,410.48 $239,738.32
812578102 SEATTLE GENETICS INC US SGEN 2,075.87 $239,513.65
81762P102 SERVICENOW INC US NOW 2,703.48 $774,762.30
828806109 SIMON PROPERTY GROUP INC US SPG 102.25 $5,609.48
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 41.43 $4,598.64
835699307 SONY CORP SPONSORED ADR JP SNE 10,822.72 $640,488.61
84265V105 SOUTHERN COPPER CORPORATION US SCCO 8,883.48 $250,158.82
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 65,228.97 $64,903.05
85172FAN9 SPRINGLEAF FINANCE CORP 7.12500 03/15/2026 US 4,407.36 $4,363.29
852061AR1 SPRINT COMMUNICATIONS 7.00000 08/15/2020 US 7,051.78 $7,056.01
85207UAE5 SPRINT CORP 7.25000 09/15/2021 US 2,644.42 $2,725.60
85207UAH8 SPRINT CORP 7.12500 06/15/2024 US 4,407.36 $4,837.74
852234103 SQUARE INC - A US SQ 2,320.04 $121,523.48
85254J102 STAG INDUSTRIAL INC US STAG 146.32 $3,295.23
855030AN2 STAPLES INC 7.50000 04/15/2026 US 4,407.36 $3,895.01
85571BAP0 STARWOOD PROPERTY TRUST 3.62500 02/01/2021 US 7,051.78 $6,594.12
862121100 STORE CAPITAL CORP US STOR 245.05 $4,440.29
866674104 SUN COMMUNITIES US SUI 128.7 $16,067.57
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 260.03 $2,264.90
871829107 SYSCO CORP US SYY 123.76 $5,647.11
872540AR0 TJX COS INC 3.50000 04/15/2025 US 51,125.41 $52,258.76
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 3,525.89 $2,415.23
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 68,754.86 $76,713.33
88146M101 TERRENO REALTY CORP US TRNO 29.09 $1,505.33
882508104 TEXAS INSTRUMENTS INC US TXN 171.36 $17,123.83
883556102 THERMO FISHER SCIENTIFIC INC US TMO 1,100.96 $312,232.06
88579Y101 3M CO US MMM 110.71 $15,113.43
89151E109 TOTAL S A SPONSORED ADR FR TOT 6,953.94 $258,964.63
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 7,051.78 $6,769.71
89417E109 TRAVELLERS COS INC US TRV 59.59 $5,920.02
89832Q109 TRUIST FINANCIAL CORP US TFC 304.46 $9,389.57
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 8,814.73 $7,316.22
902494103 TYSON FOODS INC -CL A US TSN 96.96 $5,611.19
902653104 UDR INC US UDR 129.05 $4,715.40
902973304 U.S. BANCORP US USB 317.33 $10,932.02
904767704 UNILEVER PLC - ADR GB UL 11,383.16 $575,646.45
907818108 UNION PAC CORP US UNP 122.52 $17,280.88
912810FS2 TSY INFL IX N/B 2.00000 01/15/2026 US 248,615.6 $276,541.82
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 166,851.51 $186,862.28
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 315,567.2 $437,430.37
912828K74 US TREASURY N/B 2.00000 08/15/2025 US 855,381.02 $926,183.85
912828YN4 US TREASURY FRN 0.42504 10/31/2021 US 1,476,466.63 $1,480,725.42
913017109 UNITED TECHNOLOGIES CORP US UTX 152.85 $14,418.09
91324P102 UNITEDHEALTH GROUP INC US UNH 1,293.12 $322,478.35
91704F104 URBAN EDGE PROPERTIES US UE 295.29 $2,601.53
918204108 VF CORP US VFC 114.59 $6,197.11
91911KAK8 BAUSCH HEALTH COS INC 7.00000 03/15/2024 CA 4,407.36 $4,489.96
91913Y100 VALERO ENERGY US VLO 111.42 $5,053.93
92276F100 VENTAS INC US VTR 75.98 $2,036.34
92339V100 VEREIT INC US VER 570.31 $2,788.83
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 118,117.33 $150,023.22
92511U102 VERRA MOBILITY CORP US VRRM 42,308.92 $302,085.71
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 1,062.17 $252,744.42
92826C839 VISA INC - CLASS A SHARES US V 4,133.23 $665,945.23
92840JAA7 VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 MUL 4,407.36 $3,564.45
92840VAB8 VISTRA OPERATIONS CO LLC 5.62500 02/15/2027 US 4,407.36 $4,545.09
931142103 WAL MART STORES US WMT 302.17 $34,332.42
94106L109 WASTE MANAGEMENT INC US WM 101.19 $9,366.43
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 4,407.36 $3,966.63
949746101 WELLS FARGO COMPANY US WFC 677.85 $19,454.37
95040Q104 WELLTOWER INC. US WELL 166.77 $7,634.94
955306105 WEST PHARMACEUTICAL SERVICES US WST 1,086.86 $165,473.79
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 2,644.42 $2,456.61
966387AH5 WHITING PETROLEUM CORP 5.75000 03/15/2021 US 4,407.36 $296.17
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 72,280.75 $66,211.65
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 106.66 $3,360.80
983793AD2 XPO LOGISTICS INC 6.50000 06/15/2022 US 4,407.36 $4,418.38
B02J639 ADMIRAL GROUP PLC GB ADM LN 2,439.92 $67,195.46
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 3,208.56 $10,858.18
B1Y47Y7 GERRESHEIMER AG DE GXI GR 422.23 $26,624.88
B1Y9TB3 DANONE FR BN FP 732.15 $46,856.42
B3QJ0H8 TOURMALINE OIL CORP CA TOU CN 3,469.48 $21,300.56
B4YVF56 BRENNTAG AG DE BNR GR 9,705.89 $352,636.19
B63QM77 NEXON CO LTD JP 3659 JP 59,763.84 $976,591.51
B7KR2P8 EASY JET PLC GB EZJ LN 48,056.12 $333,007.05
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 567.67 $10,048.64
BD3HF92 BSR REAL ESTATE INVESTMENT CA HOM/U CN 257.39 $2,252.16
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 3,008.47 $3,470.63
BGJW376 MEITUAN DIANPING - CLASS B CN 3690 HK 863.84 $10,298.09
BJ2KSG2 AKZO NOBEL NL AKZA NA 377.09 $24,801.00
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 15,330.75 $757,762.29
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 7,183.12 $24,395.38
BNGN9Z1 FINECOBANK SPA IT FBK IM 24,093.29 $216,769.60
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 11,379.81 $294,892.57
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 3,398.08 $18,362.47
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 8,282.85 $365,852.58
BZ0VW78 BINGO INDUSTRIES LTD AU BIN AU 16,015.48 $18,787.40
BZ1HM42 ADYEN NV NL ADYEN NA 15.87 $13,484.87
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 1,081.57 $18,419.08
G1151C101 ACCENTURE PLC - CL A IE ACN 2,029.15 $331,279.02
G29183103 EATON CORP PLC US ETN 107.89 $8,382.15
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 236.94 $6,387.90
G5494J103 LINDE PLC GB LIN 71.22 $12,321.58
G5960L103 MEDTRONIC INC IE MDT 4,943.65 $445,818.45
G66721104 NORWEGIAN CRUISE LINE HOLDINGS US NCLH 3,904.04 $42,788.30
G8994E103 TRANE TECHNOLOGIES IE TT 53.95 $4,455.41
G97822103 PERRIGO CO PLC IE PRGO 624.08 $30,012.13
H01301128 ALCON INC CH ALC 5,082.57 $258,296.26
H1467J104 CHUBB LTD CH CB 88.15 $9,845.17
H2906T109 GARMIN LTD CH GRMN 46.37 $3,475.55
N53745100 LYONDELLBASELL INDU-CL A US LYB 107.19 $5,319.69
V7780T103 ROYAL CARIBBEAN CRUISES LTD US RCL 1,696.83 $54,587.17

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 45 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

$13.20

Daily $ Change

$0.16

Daily % Change

1.21%

as of 04/09/2020

CUSIP

56382R795

Inception Date

05/14/2015

This fund is available only 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 15% - 45%.

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.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Performance

As of 03/31/2020

YTD

-15.51%

1 Year

-4.40%

3 Year

5.48%

5 Year

4.90%

10 Year

7.33%

Inception
(01/01/2000)

7.02%

US Stock Market Cycle (04/01/2000 - 03/31/2020)

7.15%

Performance through the inception date of the Retirement Target CIT Class U1 units is based on the historical performance of the CIT’s oldest unit class. Performance through the inception date of the oldest unit class (05/10/2007) 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. Returns are net of the Class U1 expenses. The Retirement Target CIT Fund will gradually become more conservative over time. 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 0.50%
Net 0.49%*

*Includes acquired fund fees and expenses of the underlying collective investment trusts and reflects the Trustee’s contractual agreement to limit its fees and voluntary agreement to reimburse certain expenses.

Top Ten Investments

As of 03/31/2020

TREASURY NOTES 5.11%
FACEBOOK INC -A 2.33%
COCA COLA CO/THE 2.28%
MICROSOFT CORP 2.13%
MONDELEZ INTERNATIONAL INC 2.12%
NEXON CO LTD 2.07%
CABOT OIL & GAS CORP 1.87%
BOOKING HOLDINGS INC 1.87%
AMAZON.COM INC 1.84%
JOHNSON & JOHNSON 1.73%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 03/31/2020

Stocks
88.20%
Bonds
11.80%

Detailed Asset Class Allocation

As of 03/31/2020

International Equities
26.32%
Small Capitalization
0.83%
Mid Capitalization
4.76%
Large Capitalization
56.28%
Long Term Fixed Income
2.38%
Intermediate Term Fixed Income
5.92%
Short Term Fixed Income
3.51%

Due to rounding, the sum of the detailed asset class allocation categories may not equal the asset allocation totals provided above.

March Fund Holdings

As of 03/31/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAK2 ADT SEC CORP 6.25000 10/15/2021 US 2,644.42 $2,584.92
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 89,910.21 $95,499.80
00287Y109 ABBVIE INC US ABBV 251.22 $19,140.43
004239109 ACADIA REALTY TRUST US AKR 223.01 $2,763.13
00489LAA1 ACRISURE LLC / FIN INC 7.00000 11/15/2025 US 2,644.42 $2,274.20
00507V109 ACTIVISION INC US ATVI 10,522.14 $625,856.80
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 54,651.3 $46,270.56
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 3,525.89 $3,067.52
008492100 AGREE REALTY CORP US ADC 59.94 $3,710.29
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 56,414.25 $47,382.57
00912XBA1 AIR LEASE CORP 3.25000 03/01/2025 US 5,288.84 $4,145.02
013092AC5 ALBERTSONS COS/SAFEWAY 4.62500 01/15/2027 US 3,525.89 $3,508.26
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 22.92 $3,141.18
01609W102 ALIBABA GROUP - ADR CN BABA 1,333.67 $259,371.77
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 70,517.81 $73,919.18
020002101 ALLSTATE CORPORATION US ALL 73.87 $6,775.86
02005NBF6 ALLY FINANCIAL INC 5.75000 11/20/2025 US 4,407.36 $4,311.28
02079K107 ALPHABET INC-CL C US GOOG 439.85 $511,467.60
02079K305 ALPHABET INC-CL A US GOOGL 440.74 $512,113.55
02154CAE3 ALTICE FINANCING SA 7.50000 05/15/2026 LU 4,407.36 $4,270.29
023135106 AMAZON.COM INC US AMZN 444.26 $866,186.89
02319V103 AMBEV SA-ADR BR ABEV 133,500.79 $307,051.82
0237400 DIAGEO PLC GB DGE LN 11,555.93 $366,432.19
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 221.25 $6,139.68
02665T306 AMERICAN HOMES 4 RENT- A US AMH 468.06 $10,859.04
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 1,762.95 $1,586.66
03027X100 AMERICAN TOWER REIT INC US AMT 2,587.12 $563,345.84
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 93,436.1 $94,585.36
03064D108 AMERICOLD REALTY TRUST US COLD 339.37 $11,552.05
032654105 ANALOG DEVICES INC US ADI 69.28 $6,211.29
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 2,644.42 $1,692.43
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 3,525.89 $2,256.57
03748R754 APARTMENT INVT & MGMT CO -A US AIV 232.71 $8,179.71
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 149.85 $5,271.74
045086AF2 ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 US 3,525.89 $2,820.71
053015103 AUTOMATIC DATA PROCESSING US ADP 66.29 $9,060.07
053332102 AUTOZONE INC US AZO 427.51 $361,677.03
053484101 AVALONBAY COMMUNITIES INC US AVB 97.84 $14,399.62
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 63,466.03 $49,772.13
055622104 BP PLC-SPONS ADR GB BP 3,577.02 $87,243.42
05722G100 BAKER HUGHES CO US BKR 310.63 $3,261.62
060505104 BANK OF AMERICA CORP US BAC 1,099.55 $23,343.42
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 141,035.62 $148,424.64
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 4,028.33 $736,499.55
086516101 BEST BUY INC US BBY 83.39 $4,753.08
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 5,138.99 $434,244.26
09247X101 BLACKROCK INC US BLK 1,453.55 $639,517.66
0946580 WEIR GROUP PLC/THE GB WEIR LN 2,028.27 $18,039.65
09857L108 BOOKING HOLDINGS INC US BKNG 654.05 $879,910.15
101121101 BOSTON PROPERTIES INC US BXP 102.78 $9,479.37
101137107 BOSTON SCIENTIFIC CORP US BSX 5,674.04 $185,143.90
105368203 BRANDYWINE REALTY TRUST US BDN 526.24 $5,536.04
110122108 BRISTOL MYERS SQUIBB CO US BMY 340.6 $18,985.10
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 8,814.73 $617.03
1248EPCE1 CCO HLDGS LLC/CAP CORP 4.50000 08/15/2030 US 2,644.42 $2,591.53
12503M108 CBOE GLOBAL MARKETS INC US CBOE 3,937.54 $351,425.28
12527GAC7 CF INDUSTRIES 3.45000 06/01/2023 US 4,407.36 $4,330.54
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 56.06 $3,711.28
12572Q105 CME GROUP INC US CME 1,963.92 $339,581.58
127097103 CABOT OIL & GAS CORP US COG 51,299.94 $881,846.02
131477AT8 CALUMET SPECIALTY PROD 11.00000 04/15/2025 US 4,407.36 $3,174.84
133131102 CAMDEN PROPERTY TRUST US CPT 147.21 $11,664.60
13321L108 CAMECO CORP CA CCJ 3,518.31 $26,879.89
14180LAA4 CARGO AIRCRAFT MANAGEMENT 4.75000 02/01/2028 US 7,051.78 $6,540.53
143905AN7 CARRIAGE SERVICES INC 6.62500 06/01/2026 US 4,407.36 $4,330.23
149123101 CATERPILLAR INC US CAT 114.77 $13,317.65
156700AW6 CENTURYLINK INC 5.62500 04/01/2020 US 2,644.42 $2,644.42
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 505.08 $220,373.12
166764100 CHEVRON CORP US CVX 2,730.8 $197,873.92
172062101 CINCINNATI FINANCIAL CORP US CINF 41.08 $3,099.23
17275R102 CISCO SYSTEMS INC US CSCO 636.07 $25,003.94
172967424 CITIGROUP INC US C 330.38 $13,915.43
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 26,444.18 $41,478.96
191216100 COCA COLA CO/THE US KO 24,252.84 $1,073,188.06
194162103 COLGATE-PALMOLIVE CO US CL 178.41 $11,839.29
20030N101 COMCAST CORP-CL A US CMCSA 500.85 $17,219.32
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 74,043.7 $76,434.11
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 178.06 $6,816.04
20451NAG6 COMPASS MINERALS INTERNA 6.75000 12/01/2027 US 4,407.36 $3,978.75
205887102 CONAGRA BRAND INC. US CAG 159.37 $4,675.92
20825C104 CONOCOPHILLIPS US COP 6,333.73 $195,078.99
21036P108 CONSTELLATION BRANDS INC-A US STZ 1,606.4 $230,292.89
217204106 COPART INC US CPRT 2,960.87 $202,878.57
222795502 COUSINS PROPERTIES INC US CUZ 349.77 $10,237.72
225310AN1 CREDIT ACCEPTANC 5.12500 12/31/2024 US 2,644.42 $2,406.42
22822V101 CROWN CASTLE INTL CORP US CCI 66.11 $9,546.35
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 102,250.82 $97,950.44
231021106 CUMMINS INC US CMI 45.31 $6,131.04
23110AAA4 CUMULUS MEDIA NEW HLDGS 6.75000 07/01/2026 US 7,051.78 $6,311.34
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 1,634.25 $8,349.51
253868103 DIGITAL REALTY TRUST INC US DLR 148.97 $20,693.27
254687106 WALT DISNEY CO/THE US DIS 3,256.16 $314,545.04
254709AP3 DISCOVER FINANCIAL SVS 4.50000 01/30/2026 US 5,288.84 $5,394.50
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 86,384.32 $87,038.53
256677105 DOLLAR GENERAL CORP US DG 5,351.42 $808,117.97
256746108 DOLLAR TREE STORES INC US DLTR 8,481.53 $623,137.97
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 8,814.73 $8,285.84
25960P109 DOUGLAS EMMETT INC US DEI 230.95 $7,046.16
260003108 DOVER CORP US DOV 37.02 $3,107.61
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 35,258.9 $35,347.05
26875P101 EOG RESOURCES INC US EOG 8,591.71 $308,614.35
2715777 QUEBECOR INC -CL B CA QBR/B CN 15,422.24 $340,926.62
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 20,131.95 $326,591.69
285512109 ELECTRONIC ARTS US EA 7,589.48 $760,238.13
2866857 LUNDIN MINING CORP CA LUN CN 2,095.26 $7,876.02
291011104 EMERSON ELEC CO US EMR 168.01 $8,005.61
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 63,466.03 $57,787.82
29413XAD9 ENVIVA PARTNERS LP/FIN C 6.50000 01/15/2026 US 4,407.36 $4,297.18
29444U700 EQUINIX INC US EQIX 821.71 $513,214.65
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 171.89 $9,880.07
29476L107 EQUITY RESIDENTIAL US EQR 154.26 $9,519.24
29670E107 ESSENTIAL PROPERTIES REALTY US EPRT 295.82 $3,863.44
297178105 ESSEX PROPERTY TRUST INC US ESS 27.68 $6,095.86
30212P303 EXPEDIA INC US EXPE 8,596.12 $483,703.72
30212PAP0 EXPEDIA INC 3.80000 02/15/2028 US 54,651.3 $47,240.13
30225T102 EXTRA SPACE STORAGE INC US EXR 31.73 $3,038.75
30303M102 FACEBOOK INC -A US FB 6,576.67 $1,096,988.08
311900104 FASTENAL CO US FAST 182.99 $5,718.55
315786AC7 FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 US 7,051.78 $6,965.75
316773100 FIFTH THIRD BANCORP US FITB 209.79 $3,115.39
32054K103 FIRST INDUSTRIAL REALTY TR US FR 119 $3,954.33
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 4,407.36 $3,790.33
339750101 FLOOR & DECOR HOLDINGS INC -A US FND 6,054.84 $194,299.67
346232AE1 FORESTAR GROUP INC 5.00000 03/01/2028 US 4,407.36 $3,659.74
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 6,170.31 $4,519.75
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 6,170.31 $4,812.84
35671D857 FREEPORT-MCMORAN INC US FCX 27,517.81 $185,745.23
36166LAA5 GEMS MENASA KY LTD/GEMS 7.12500 07/31/2026 AE 4,407.36 $3,669.13
369550108 GENERAL DYNAMICS CORP US GD 61.17 $8,093.96
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 44,073.63 $36,360.75
370334104 GENERAL MLS INC US GIS 153.38 $8,093.66
37185LAL6 GENESIS ENERGY LP/FIN 7.75000 02/01/2028 US 4,407.36 $3,068.41
372460105 GENUINE PARTS CO US GPC 57.3 $3,857.72
374297109 GETTY REALTY CORP US GTY 127.81 $3,034.29
375558103 GILEAD SCIENCES INC US GILD 226.01 $16,896.48
384802104 WW GRAINGER INC US GWW 13.05 $3,241.88
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 25,434.01 $310,294.93
38869PAK0 GRAPHIC PACKAGING INTERN 4.75000 04/15/2021 US 3,525.89 $3,482.87
398433AN2 GRIFFON CORPORATION 5.75000 03/01/2028 US 5,288.84 $4,971.51
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 180.7 $9,747.06
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 115.47 $10,870.62
4031976 ADIDAS AG DE ADS GR 1,466.77 $325,663.38
404119BX6 HCA INC 4.12500 06/15/2029 US 70,517.81 $70,639.29
404139AD9 HC2 HOLDINGS INC 11.50000 12/01/2021 US 2,644.42 $2,459.31
416515104 HARTFORD FINL SVCS US HIG 107.72 $3,795.91
421946104 HEALTHCARE REALTY TRUST INC US HR 173.65 $4,850.05
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 113.71 $2,760.88
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 416.94 $9,943.94
427866108 HERSHEY CO/THE US HSY 56.41 $7,474.89
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 76.69 $5,233.20
437076102 HOME DEPOT INC US HD 151.44 $28,274.80
438516106 HONEYWELL INTERNATIONAL INC US HON 129.05 $17,265.28
440452100 HORMEL FOODS CORP US HRL 109.48 $5,106.10
44107P104 HOST MARRIOTT CORP US HST 314.69 $3,474.13
450913AE8 IAMGOLD CORP 7.00000 04/15/2025 CA 4,407.36 $4,098.85
452308109 ILLINOIS TOOL WKS INC US ITW 73.87 $10,498.04
45337C102 INCYTE CORP US INCY 1,933.95 $141,623.23
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 4,407.36 $3,503.85
45781V101 INNOVATIVE INDUSTRIAL PROPER US IIPR 70.17 $5,327.65
458140100 INTEL CORP US INTC 589 $31,876.68
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 4,120 $332,690.24
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 160.25 $17,776.72
459506101 INTERNATIONAL FLVRS & FRAGRANCES US IFF 27.5 $2,807.40
46120E602 INTUITIVE SURGICAL INC US ISRG 305.87 $151,470.38
46187W107 INVITATION HOMES INC US INVH 687.02 $14,681.61
46284PAP9 IRON MOUNTAIN INC 5.75000 08/15/2024 US 5,288.84 $5,262.39
46625H100 JP MORGAN CHASE & CO US JPM 363.34 $32,711.77
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 70,517.81 $74,719.00
4741844 MERCK KGAA DE MRK GR 2,096.14 $211,631.06
476405105 JERNIGAN CAPITAL INC US JCAP 308.52 $3,381.33
478160104 JOHNSON & JOHNSON US JNJ 6,211.56 $814,522.02
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 6,170.31 $277.66
482480100 KLA-TENCOR CORPORATION US KLAC 45.31 $6,512.53
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 4,407.36 $4,429.40
49427F108 KILROY REALTY CORP US KRC 217.55 $13,857.77
494368103 KIMBERLY CLARK CORP US KMB 77.22 $9,873.74
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 75,806.64 $78,846.30
501044101 KROGER CO US KR 224.25 $6,754.31
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 7,933.25 $6,901.93
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 4,407.36 $3,702.18
5107401 BEIERSDORF AG DE BEI GR 4,409.13 $443,958.76
516806AG1 LAREDO PETROLEUM INC 10.12500 01/15/2028 US 4,407.36 $1,674.80
53223X107 LIFE STORAGE INC US LSI 28.21 $2,666.98
532457108 ELI LILLY & CO US LLY 110.71 $15,358.10
539830109 LOCKHEED MARTIN CORP US LMT 49.36 $16,731.41
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 2,644.42 $482.61
550021109 LULULEMON - ADR CA LULU 3,654.06 $692,626.42
56585A102 MARATHON PETROLEUM CORP US MPC 188.11 $4,443.07
57636Q104 MASTERCARD INC-CLASS A US MA 3,313.46 $800,398.32
58933Y105 MERCK & CO INC US MRK 2,338.55 $179,927.79
594918104 MICROSOFT CORP US MSFT 6,342.2 $1,000,227.65
595112103 MICRON TECHNOLOGY INC US MU 17,517.51 $736,786.27
59522J103 MID-AMERICA APARTMENT COMM US MAA 44.96 $4,631.72
60871R209 MOLSON COORS BREWING CO -B US TAP 79.51 $3,101.64
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 19,925.51 $997,869.65
615369105 MOODY'S CORPORATION US MCO 2,058.24 $435,317.45
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 2,644.42 $766.88
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 2,644.42 $1,903.98
6253983 ARISTOCRAT LEISURE LTD AU ALL AU 1,567.26 $20,308.00
6356934 FANUC LTD JP 6954 JP 123.41 $16,490.25
637417106 NATIONAL RETAIL PROPERTIES US NNN 100.49 $3,234.70
63938CAA6 NAVIENT CORP 5.00000 10/26/2020 US 4,407.36 $4,341.25
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 2,644.42 $2,432.86
64110D104 NETAPP INC US NTAP 77.57 $3,233.88
6490995 KEYENCE CORP JP 6861 JP 123.41 $39,676.63
65342QAK8 NEXTERA ENERGY OPERATING 4.25000 07/15/2024 US 3,525.89 $3,437.74
65409QBB7 NIELSEN FINANCE LLC/CO 5.00000 04/15/2022 US 4,407.36 $4,062.80
654106103 NIKE INC CLASS B US NKE 7,879.48 $651,948.48
655844108 NORFOLK SOUTHN CORP US NSC 45.48 $6,640.66
6642321 NIKON CORP JP 7731 JP 23,711.61 $217,631.49
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 6,170.31 $3,023.45
66987V109 NOVARTIS AG- REG CH NVS 5,742.79 $473,493.37
670346105 NUCOR CORP US NUE 110.71 $3,987.88
67059TAD7 NUSTAR LOGISTICS LP 6.75000 02/01/2021 US 2,644.42 $2,102.31
67066G104 NVIDIA CORP US NVDA 1,373.33 $362,010.93
67401PAB4 OAKTREE SPECIALTY LEND 3.50000 02/25/2025 US 4,407.36 $3,953.13
6742340 SHANDONG WEIGAO CN 1066 HK 28,912.3 $36,295.27
675232AB8 OCEANEERING INTL INC 6.00000 02/01/2028 US 4,407.36 $1,687.65
6821506 SONY CORP FIRST SECTION JP 6758 JP 846.21 $50,124.27
68245XAE9 1011778 BC / NEW RED FIN 5.00000 10/15/2025 CA 4,407.36 $4,208.99
68389X105 ORACLE CORP US ORCL 341.84 $16,520.89
69318FAH1 PBF HOLDING CO LLC 6.00000 02/15/2028 US 4,407.36 $2,908.86
693475105 PNC FINANCIAL SERVICES GROUP US PNC 70.87 $6,783.71
7021963 DEUTSCHE BOERSE AG DE DB1 GR 3,348.71 $460,060.35
70450Y103 PAYPAL HOLDINGS INC US PYPL 7,288.9 $697,839.00
7123870 NESTLE SA-REGISTERED CH NESN SW 5,054.36 $517,404.10
713448108 PEPSICO INC US PEP 2,393.2 $287,423.10
717081103 PFIZER INC US PFE 820.65 $26,786.05
719245AD4 PHOTO HOLDINGS MERGER SU 8.50000 10/01/2026 US 4,407.36 $3,569.96
71943U104 PHYSICIANS REALTY TRUST US DOC 342.89 $4,779.93
733174AK2 POPULAR INC 6.12500 09/14/2023 PR 4,407.36 $4,076.81
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 82,858.43 $80,811.26
74166MAB2 PRIME SECSRVC BRW/FINANC 5.25000 04/15/2024 US 4,407.36 $4,353.55
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 2,644.42 $2,591.53
74166MAE6 PRIME SECSRVC BRW/FINANC 6.25000 01/15/2028 US 6,170.31 $5,321.89
74340W103 PROLOGIS US PLD 423.46 $34,033.44
74460D109 PUBLIC STORAGE INC US PSA 73.16 $14,530.75
747525103 QUALCOMM INC US QCOM 160.6 $10,864.88
74834L100 QUEST DIAGNOSTICS INC US DGX 46.72 $3,751.46
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 6,170.31 $6,077.75
755111507 RAYTHEON COMPANY US RTN 50.6 $6,635.73
756109104 REALTY INCOME CORP US O 66.99 $3,340.22
7591EP100 REGIONS FINANCIAL CORP. US RF 313.1 $2,808.50
76131D103 RESTAURANT BRANDS INTERN CA QSR 814.48 $32,603.66
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 37.9 $1,554.42
7698356 GETINGE AB-B SHS SE GETIB SS 1,455.31 $27,518.65
773903109 ROCKWELL AUTOMATION INC US ROK 32.44 $4,895.25
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 2,694.66 $88,007.65
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 7,109.96 $377,467.68
78409V104 S&P GLOBAL INC US SPGI 1,757.66 $430,713.70
78410G104 SBA COMMUNICATIONS CORP US SBAC 2,066.17 $557,804.40
78410GAC8 SBA COMMUNICATIONS CORP 3.87500 02/15/2027 US 3,525.89 $3,534.71
78442PGC4 SLM CORP 5.12500 04/05/2022 US 6,170.31 $5,306.47
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 109,302.6 $98,897.01
79466L302 SALESFORCE.COM US CRM 2,037.08 $293,299.24
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 93,436.1 $95,324.16
806857108 SCHLUMBERGER LTD NL SLB 12,000.54 $161,887.34
808625AA5 SCIENCE APPLICATIONS INT 4.87500 04/01/2028 US 5,288.84 $5,077.28
81141R100 SEA LTD - ADR SG SE 5,410.48 $239,738.32
812578102 SEATTLE GENETICS INC US SGEN 2,075.87 $239,513.65
81762P102 SERVICENOW INC US NOW 2,703.48 $774,762.30
828806109 SIMON PROPERTY GROUP INC US SPG 102.25 $5,609.48
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 41.43 $4,598.64
835699307 SONY CORP SPONSORED ADR JP SNE 10,822.72 $640,488.61
84265V105 SOUTHERN COPPER CORPORATION US SCCO 8,883.48 $250,158.82
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 65,228.97 $64,903.05
85172FAN9 SPRINGLEAF FINANCE CORP 7.12500 03/15/2026 US 4,407.36 $4,363.29
852061AR1 SPRINT COMMUNICATIONS 7.00000 08/15/2020 US 7,051.78 $7,056.01
85207UAE5 SPRINT CORP 7.25000 09/15/2021 US 2,644.42 $2,725.60
85207UAH8 SPRINT CORP 7.12500 06/15/2024 US 4,407.36 $4,837.74
852234103 SQUARE INC - A US SQ 2,320.04 $121,523.48
85254J102 STAG INDUSTRIAL INC US STAG 146.32 $3,295.23
855030AN2 STAPLES INC 7.50000 04/15/2026 US 4,407.36 $3,895.01
85571BAP0 STARWOOD PROPERTY TRUST 3.62500 02/01/2021 US 7,051.78 $6,594.12
862121100 STORE CAPITAL CORP US STOR 245.05 $4,440.29
866674104 SUN COMMUNITIES US SUI 128.7 $16,067.57
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 260.03 $2,264.90
871829107 SYSCO CORP US SYY 123.76 $5,647.11
872540AR0 TJX COS INC 3.50000 04/15/2025 US 51,125.41 $52,258.76
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 3,525.89 $2,415.23
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 68,754.86 $76,713.33
88146M101 TERRENO REALTY CORP US TRNO 29.09 $1,505.33
882508104 TEXAS INSTRUMENTS INC US TXN 171.36 $17,123.83
883556102 THERMO FISHER SCIENTIFIC INC US TMO 1,100.96 $312,232.06
88579Y101 3M CO US MMM 110.71 $15,113.43
89151E109 TOTAL S A SPONSORED ADR FR TOT 6,953.94 $258,964.63
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 7,051.78 $6,769.71
89417E109 TRAVELLERS COS INC US TRV 59.59 $5,920.02
89832Q109 TRUIST FINANCIAL CORP US TFC 304.46 $9,389.57
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 8,814.73 $7,316.22
902494103 TYSON FOODS INC -CL A US TSN 96.96 $5,611.19
902653104 UDR INC US UDR 129.05 $4,715.40
902973304 U.S. BANCORP US USB 317.33 $10,932.02
904767704 UNILEVER PLC - ADR GB UL 11,383.16 $575,646.45
907818108 UNION PAC CORP US UNP 122.52 $17,280.88
912810FS2 TSY INFL IX N/B 2.00000 01/15/2026 US 248,615.6 $276,541.82
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 166,851.51 $186,862.28
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 315,567.2 $437,430.37
912828K74 US TREASURY N/B 2.00000 08/15/2025 US 855,381.02 $926,183.85
912828YN4 US TREASURY FRN 0.42504 10/31/2021 US 1,476,466.63 $1,480,725.42
913017109 UNITED TECHNOLOGIES CORP US UTX 152.85 $14,418.09
91324P102 UNITEDHEALTH GROUP INC US UNH 1,293.12 $322,478.35
91704F104 URBAN EDGE PROPERTIES US UE 295.29 $2,601.53
918204108 VF CORP US VFC 114.59 $6,197.11
91911KAK8 BAUSCH HEALTH COS INC 7.00000 03/15/2024 CA 4,407.36 $4,489.96
91913Y100 VALERO ENERGY US VLO 111.42 $5,053.93
92276F100 VENTAS INC US VTR 75.98 $2,036.34
92339V100 VEREIT INC US VER 570.31 $2,788.83
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 118,117.33 $150,023.22
92511U102 VERRA MOBILITY CORP US VRRM 42,308.92 $302,085.71
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 1,062.17 $252,744.42
92826C839 VISA INC - CLASS A SHARES US V 4,133.23 $665,945.23
92840JAA7 VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 MUL 4,407.36 $3,564.45
92840VAB8 VISTRA OPERATIONS CO LLC 5.62500 02/15/2027 US 4,407.36 $4,545.09
931142103 WAL MART STORES US WMT 302.17 $34,332.42
94106L109 WASTE MANAGEMENT INC US WM 101.19 $9,366.43
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 4,407.36 $3,966.63
949746101 WELLS FARGO COMPANY US WFC 677.85 $19,454.37
95040Q104 WELLTOWER INC. US WELL 166.77 $7,634.94
955306105 WEST PHARMACEUTICAL SERVICES US WST 1,086.86 $165,473.79
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 2,644.42 $2,456.61
966387AH5 WHITING PETROLEUM CORP 5.75000 03/15/2021 US 4,407.36 $296.17
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 72,280.75 $66,211.65
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 106.66 $3,360.80
983793AD2 XPO LOGISTICS INC 6.50000 06/15/2022 US 4,407.36 $4,418.38
B02J639 ADMIRAL GROUP PLC GB ADM LN 2,439.92 $67,195.46
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 3,208.56 $10,858.18
B1Y47Y7 GERRESHEIMER AG DE GXI GR 422.23 $26,624.88
B1Y9TB3 DANONE FR BN FP 732.15 $46,856.42
B3QJ0H8 TOURMALINE OIL CORP CA TOU CN 3,469.48 $21,300.56
B4YVF56 BRENNTAG AG DE BNR GR 9,705.89 $352,636.19
B63QM77 NEXON CO LTD JP 3659 JP 59,763.84 $976,591.51
B7KR2P8 EASY JET PLC GB EZJ LN 48,056.12 $333,007.05
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 567.67 $10,048.64
BD3HF92 BSR REAL ESTATE INVESTMENT CA HOM/U CN 257.39 $2,252.16
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 3,008.47 $3,470.63
BGJW376 MEITUAN DIANPING - CLASS B CN 3690 HK 863.84 $10,298.09
BJ2KSG2 AKZO NOBEL NL AKZA NA 377.09 $24,801.00
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 15,330.75 $757,762.29
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 7,183.12 $24,395.38
BNGN9Z1 FINECOBANK SPA IT FBK IM 24,093.29 $216,769.60
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 11,379.81 $294,892.57
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 3,398.08 $18,362.47
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 8,282.85 $365,852.58
BZ0VW78 BINGO INDUSTRIES LTD AU BIN AU 16,015.48 $18,787.40
BZ1HM42 ADYEN NV NL ADYEN NA 15.87 $13,484.87
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 1,081.57 $18,419.08
G1151C101 ACCENTURE PLC - CL A IE ACN 2,029.15 $331,279.02
G29183103 EATON CORP PLC US ETN 107.89 $8,382.15
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 236.94 $6,387.90
G5494J103 LINDE PLC GB LIN 71.22 $12,321.58
G5960L103 MEDTRONIC INC IE MDT 4,943.65 $445,818.45
G66721104 NORWEGIAN CRUISE LINE HOLDINGS US NCLH 3,904.04 $42,788.30
G8994E103 TRANE TECHNOLOGIES IE TT 53.95 $4,455.41
G97822103 PERRIGO CO PLC IE PRGO 624.08 $30,012.13
H01301128 ALCON INC CH ALC 5,082.57 $258,296.26
H1467J104 CHUBB LTD CH CB 88.15 $9,845.17
H2906T109 GARMIN LTD CH GRMN 46.37 $3,475.55
N53745100 LYONDELLBASELL INDU-CL A US LYB 107.19 $5,319.69
V7780T103 ROYAL CARIBBEAN CRUISES LTD US RCL 1,696.83 $54,587.17

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 45 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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