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

$12.45

Daily $ Change

-$0.03

Daily % Change

-0.24%

as of 05/18/2018

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

Annualized Performance

As of 04/30/2018

YTD

0.50%

1 Year

12.49%

3 Year

6.96%

5 Year

8.93%

10 Year

7.13%

Inception
(01/01/2000)

7.68%

US Stock Market Cycle (04/01/2000 - 04/30/2018)

7.84%

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. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.49%
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 04/30/2018

TREASURY NOTES 3.84%
SERVICENOW INC 2.39%
MEDTRONIC INC 2.16%
QORVO INC 2.10%
BOOKING HOLDINGS INC 1.98%
O'REILLY AUTOMOTIVE INC 1.91%
INCYTE CORP 1.89%
FACEBOOK INC -A 1.87%
MASTERCARD INC-CLASS A 1.79%
TREASURY BONDS 1.64%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 04/30/2018

Stocks 88.77%
Bonds 10.22%
Cash 1.01%

Detailed Asset Class Allocation

As of 04/30/2018

International Equities 31.21%
Small Capitalization 1.44%
Mid Capitalization 11.50%
Large Capitalization 44.63%
Long Term Fixed Income 2.80%
Intermediate Term Fixed Income 6.67%
Short Term Fixed Income 0.74%
Cash 1.01%

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

April Fund Holdings

As of 04/30/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00163UAB2 AMAG PHARMACEUTICALS INC 7.87500 09/01/2023 US 12,442.7 $12,380.48
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 74,656.18 $74,113.60
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 12,442.7 $12,971.51
004239109 ACADIA REALTY TRUST US AKR 183.32 $4,326.41
0045614 ANTOFAGASTA PLC GB ANTO LN 14,744.59 $197,002.70
0053673 ASHTEAD GROUP PLC GB AHT LN 1,029.43 $28,590.17
00724F101 ADOBE SYS INC US ADBE 3,045.97 $674,987.39
00790X101 ADVANCED DISPOSAL SERVICES US ADSW 22,530.4 $496,570.11
008492100 AGREE REALTY CORP US ADC 83.78 $4,095.21
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 5,806.59 $6,031.60
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 63.87 $7,956.60
01609W102 ALIBABA GROUP - ADR CN BABA 6,306.79 $1,126,013.90
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 119,449.88 $112,460.75
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 11,613.18 $11,729.31
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 9,124.64 $9,120.08
02079K107 ALPHABET INC-CL C US GOOG 369.96 $376,374.28
02079K305 ALPHABET INC-CL A US GOOGL 366.64 $373,457.04
02209S103 ALTRIA GROUP INC US MO 7,771.71 $436,070.53
023135106 AMAZON.COM INC US AMZN 461.21 $722,313.67
02319V103 AMBEV SA-ADR BR ABEV 153,911.17 $1,018,891.96
0237400 DIAGEO PLC GB DGE LN 32,135.34 $1,146,425.57
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 237.24 $9,278.49
0263494 BAE SYSTEMS PLC GB BA/ LN 1,485.66 $12,465.09
02665T306 AMERICAN HOMES 4 RENT- A US AMH 802.14 $16,203.21
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 77,974.23 $74,964.74
03027X100 AMERICAN TOWER REIT INC US AMT 5,974.15 $814,635.52
03064D108 AMERICOLD REALTY TRUST US COLD 211.53 $4,359.55
034863AT7 ANGLO AMERICAN CAPITAL 4.00000 09/11/2027 GB 77,974.23 $73,457.78
03748R101 APARTMENT INVT & MGMT CO -A US AIV 284.52 $11,551.63
03784Y200 APPLE HOSPITALITY REIT INC US APLE 408.95 $7,357.01
0405207 HALMA PLC GB HLMA LN 1,325.56 $22,241.77
04621WAC4 ASSURED GUARANTY US HLDG 5.00000 07/01/2024 US 76,315.2 $79,188.76
0490656 KERRY GROUP PLC-A IE KYGA LN 281.2 $28,592.85
053332102 AUTOZONE INC US AZO 1,253.39 $782,769.77
053484101 AVALONBAY COMMUNITIES INC US AVB 194.94 $31,774.50
05501U106 AZUL S.A SPONSORED ADR PFD BR AZUL 600.57 $18,617.59
0557681 HOWDEN JOINERY GROUP INC GB HWDN LN 1,925.3 $12,601.10
058498106 BALL CORP US BLL 19,788.86 $793,335.55
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 114,472.8 $113,144.57
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 12,986.86 $1,084,532.39
09062X103 BIOGEN IDEC INC US BIIB 2,372.41 $649,090.66
09247X101 BLACKROCK INC US BLK 1,302.34 $679,167.97
0946580 WEIR GROUP PLC/THE GB WEIR LN 1,840.69 $53,862.29
09627J102 BLUEROCK RESIDENTIAL GROWTH US 360.01 $3,236.48
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 104,518.65 $111,494.11
09857L108 BOOKING HOLDINGS INC US BKNG 675.22 $1,470,637.08
101121101 BOSTON PROPERTIES INC US BXP 150.14 $18,228.72
105368203 BRANDYWINE REALTY TRUST US BDN 457.89 $7,376.63
110122108 BRISTOL MYERS SQUIBB CO US BMY 5,095.7 $265,638.78
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 433.01 $23,650.78
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 22,396.85 $21,053.04
1248EPBR3 CCO HLDGS LLC/CAP CORP 5.50000 05/01/2026 US 8,295.13 $8,076.97
125269100 CF INDUSTRIES HOLDINGS INC US CF 18,138.13 $703,759.55
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 74,656.18 $74,842.82
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 21,567.34 $20,205.90
13321L108 CAMECO CORP CA CCJ 1,208.93 $12,730.06
134429109 CAMPBELL SOUP CO US CPB 19,312.72 $787,572.85
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 1,049.33 $13,683.32
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 20,737.83 $19,726.86
15672WAJ3 CEQUEL COM HLDG I/CAP CP 7.50000 04/01/2028 US 9,124.64 $9,250.11
16411QAA9 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 14,931.24 $14,595.28
165240102 CHESAPEAKE LODGING TRUST US CHSP 210.7 $6,223.97
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 76,315.2 $110,529.31
191216100 COCA COLA CO/THE US KO 16,645.84 $719,266.69
19238VAG0 COGECO CABLE INC 4.87500 05/01/2020 CA 5,806.59 $5,835.62
19625W104 COLONY NORTHSTAR INC-CLASS A US CLNS 868 $5,303.50
198287203 COLUMBIA PROPERTY TRUST INC US CXP 227.29 $4,854.84
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 465.36 $11,866.60
21871N101 CORECIVIC INC US CXW 636.24 $12,826.53
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 66,361.05 $74,381.27
222795106 COUSINS PROPERTIES INC US CUZ 2,199.04 $19,549.46
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 10,783.67 $10,675.83
22822V101 CROWN CASTLE INTL CORP US CCI 94.56 $9,538.72
229663109 CUBESMART US CUBE 302.77 $8,913.62
23311RAC0 DCP MIDSTREAM OPERATING 9.75000 03/15/2019 US 5,806.59 $6,111.44
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 11,851.25 $170,760.69
23918K108 DAVITA INC. US DVA 8,510.8 $534,393.39
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 15,760.75 $14,936.46
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 4,645.27 $14,517.99
25271C102 DIAMOND OFFSHORE DRILLING US DO 15,944.9 $293,226.71
253393102 DICK'S SPORTING GOODS INC US DKS 21,632.87 $715,831.71
253868103 DIGITAL REALTY TRUST INC US DLR 214.84 $22,706.85
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 77,974.23 $76,264.70
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 16,590.26 $16,673.21
2643674 GRUPO MEXICO SAB DE CV-SER MX GMEXICOB MM 10,188.08 $33,731.38
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 21,567.34 $21,836.93
269246401 ETRADE FINANCIAL CORP US ETFC 14,184.67 $860,725.99
2715777 QUEBECOR INC -CL B CA QBR/B CN 14,566.25 $271,596.26
277276101 EASTGROUP PROPERTIES US EGP 36.5 $3,276.84
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 24,876.27 $511,300.83
285512109 ELECTRONIC ARTS US EA 6,168.26 $727,731.22
2866857 LUNDIN MINING CORP CA LUN CN 27,962.89 $185,119.77
294429105 EQUIFAX INC US EFX 4,188.21 $469,289.10
29444U700 EQUINIX INC US EQIX 109.5 $46,074.71
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 110.33 $9,836.60
29476L107 EQUITY RESIDENTIAL US EQR 227.29 $14,025.85
297178105 ESSEX PROPERTY TRUST INC US ESS 38.99 $9,344.82
30225T102 EXTRA SPACE STORAGE INC US EXR 158.44 $14,194.37
30303M102 FACEBOOK INC -A US FB 8,092.73 $1,391,949.47
31428X106 FEDEX CORPORATION US FDX 3,199.43 $790,899.57
32054K103 FIRST INDUSTRIAL REALTY TR US FR 454.57 $14,141.77
336130AB5 FIRST QUALITY FINANCE CO 5.00000 07/01/2025 US 4,977.08 $4,765.55
345605109 FOREST CITY REALTY TRUST - A US FCE/A 339.27 $6,805.77
35671D857 FREEPORT-MCMORAN INC US FCX 35,139.83 $534,476.85
35802XAA1 FRESENIUS MED CARE US 6.50000 09/15/2018 US 6,636.1 $6,721.28
36174X101 GGP INC US GGP 394.85 $7,893.02
371559105 GENESEE & WYOMING INC -CL A US GWR 7,274 $517,908.81
374297109 GETTY REALTY CORP US GTY 253.83 $6,358.47
37950E366 GLOBAL X MSCI GREECE ETF GR 2,898.32 $30,925.06
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 22,396.85 $22,004.91
37954A204 GLOBAL MEDICAL REIT INC US GMRE 516.79 $4,025.77
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 10,783.67 $10,675.83
399909100 GRUPO FINANCIERO GALICIA-ADR AR GGAL 228.12 $14,581.18
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 89.59 $9,332.32
40054A108 GRUPO SUPERVIELLE SA-SP ADR AR SUPV 461.21 $12,886.19
40414L109 HCP INC US HCP 615.5 $14,378.05
410345AL6 HANESBRANDS INC 4.87500 05/15/2026 US 9,954.16 $9,555.99
4116099 BPER BANCA IT BPE IM 2,970.49 $17,147.07
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 315.22 $7,877.22
431318AQ7 HILCORP ENERGY I/HILCORP 5.75000 10/01/2025 US 11,613.18 $11,497.05
431475AB8 HILL-ROM HOLDINGS INC 5.00000 02/15/2025 US 14,931.24 $14,827.16
44107P104 HOST MARRIOTT CORP US HST 835.32 $16,338.85
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 21,567.34 $21,082.07
4457624 TRIGANO SA FR TRI FP 126.92 $23,916.69
4497749 KBC GROEP NV BE KBC BB 316.04 $27,476.87
45031UCD1 ISTAR INC 5.25000 09/15/2022 US 16,590.26 $16,092.55
45337C102 INCYTE CORP US INCY 22,659.81 $1,403,548.54
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 577.34 $5,427.01
45763PAE6 INMARSAT FINANCE PLC 4.87500 05/15/2022 GB 21,567.34 $20,812.48
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 10,783.67 $11,137.46
46115HBD8 INTESA SANPAOLO SPA 3.87500 01/12/2028 IT 119,449.88 $111,574.11
46120E602 INTUITIVE SURGICAL INC US ISRG 1,257.54 $554,299.28
46187W107 INVITATION HOMES INC US INVH 698.78 $16,169.81
464286608 ISHARES MSCI EMU XX 982.14 $43,538.42
46625HHL7 JPMORGAN CHASE & CO 6.30000 04/23/2019 US 109,495.73 $113,356.65
478160104 JOHNSON & JOHNSON US JNJ 7,206.81 $911,589.34
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 20,737.83 $16,590.26
4821100 SOLVAY SA BE SOLB BB 238.07 $33,108.48
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 94,564.49 $112,228.82
497864AA6 KISSNER GR HLDG 8.37500 12/01/2022 CA 17,419.77 $17,855.27
50212YAB0 LPL HOLDINGS INC 5.75000 09/15/2025 US 14,101.72 $13,678.67
502160AM6 LSB INDUSTRIES 9.62500 05/01/2023 US 14,931.24 $14,987.23
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 9,124.64 $9,284.33
5107401 BEIERSDORF AG DE BEI GR 6,426.24 $727,052.51
512816109 LAMAR ADVERTISING CO US LAMR 101.2 $6,447.49
5129074 FRESENIUS MEDICAL DE FME GR 3,493.74 $354,512.64
5228658 RANDSTAD HOLDING NV NL RAND NA 559.92 $36,038.36
5263574 FLSMIDTH & CO A/S DK FLS DC 183.32 $11,323.39
5289837 ERSTE GROUP BANK AG AT EBS AV 461.21 $22,553.87
53223X107 LIFE STORAGE INC US LSI 48.11 $4,255.00
5330047 DASSAULT SYSTEMES SA FR DSY FP 169.22 $21,929.28
54150E104 LOMA NEGRA CIA IND-SPON ADR AR LOMA 669.42 $13,883.71
5458314 AKZO NOBEL NL AKZA NA 7,257.41 $657,218.08
550021109 LULULEMON - ADR CA LULU 7,507.43 $749,241.02
554382101 THE MACERICH CO US MAC 91.25 $5,257.62
5545670 JUNGHEINRICH AG DE JUN3 GR 761.49 $32,113.68
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 17,419.77 $16,766.53
5633616 SOPRA STERIA GROUP FR SOP FP 184.98 $39,485.68
5669354 REPSOL SA ES REP SM 1,201.56 $22,929.12
5699373 WIENERBERGER AG AT WIE AV 1,252.56 $31,561.96
5713422 METSO OYJ FI METSO FH 1,092.47 $38,826.67
5727973 SIEMENS AG-REG DE SIE GR 468.67 $59,519.22
57636Q104 MASTERCARD INC-CLASS A US MA 7,456.49 $1,329,269.00
5852842 ACCOR SA FR AC FP 381.91 $21,586.12
58933Y105 MERCK & CO INC US MRK 5,859.68 $344,959.38
59001ABA9 MERITAGE HOMES CORP 5.12500 06/06/2027 US 13,272.21 $12,592.01
594918104 MICROSOFT CORP US MSFT 10,663.39 $997,240.28
59522J103 MID-AMERICA APARTMENT COMM US MAA 201.57 $18,435.75
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 12,009.69 $474,382.76
61744YAG3 MORGAN STANLEY FLT 3.01070 05/08/2024 US 111,154.75 $113,344.17
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 23,226.37 $22,994.10
6250724 DAIKIN INDUSTRIES LTD JP 6367 JP 182.49 $21,318.04
6291819 CHINA PETROLEUM & CHEMICAL - H CN 386 HK 16,258.46 $15,833.45
6356934 FANUC LTD JP 6954 JP 67.52 $14,464.01
637417106 NATIONAL RETAIL PROPERTIES US NNN 144.34 $5,490.51
63938CAE8 NAVIENT CORP 7.25000 09/25/2023 US 8,295.13 $8,668.41
64110W102 NETEASE.COM INC- ADR CN NTES 66.36 $17,059.43
6429104 HITACHI LTD FIRST SECTION JP 6501 JP 4,811.18 $35,114.65
6446620 HYUNDAI HEAVY INDUSTRIES KR 009540 KS 68.02 $7,529.99
6451066 HYUNDAI MIPO DOCKYARD KR 010620 KS 87.93 $7,302.10
6482903 KANAMOTO CO LTD JP 9678 JP 447.94 $15,306.08
6490995 KEYENCE CORP JP 6861 JP 99.54 $60,698.42
654106103 NIKE INC CLASS B US NKE 10,501.64 $718,206.85
6630940 CHINA EVERBRIGHT INTL LTD HK 257 HK 20,903.73 $29,320.73
6642387 YAMAHA CORP JP 7951 JP 315.22 $15,210.04
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 27,373.93 $27,874.87
66987V109 NOVARTIS AG- REG CH NVS 13,165.2 $1,009,639.33
67091GAA1 OCI NV 6.62500 04/15/2023 NL 14,931.24 $15,140.27
67103H107 O'REILLY AUTOMOTIVE INC US ORLY 5,560.23 $1,423,807.10
6772217 SAMSUNG HEAVY INDUSTRIES KR 010140 KS 1,058.46 $7,235.34
680665205 OLIN CORP US OLN 16,441.78 $496,377.29
6865504 SUZUKI MOTOR CORP JP 7269 JP 381.58 $20,508.90
69007J106 OUTFRONT MEDIA INC US OUT 276.23 $5,179.27
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 14,101.72 $14,383.76
697660207 PAMPA ENERGIA SA AR PAM 231.43 $13,201.00
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 14,101.72 $13,502.40
7110902 TECAN GROUP AG-REG CH TECN SW 72.17 $15,867.93
7123870 NESTLE SA-REGISTERED CH NESN SW 8,947.13 $693,134.83
7145056 ENI SPA IT ENI IM 788.04 $15,404.86
7147892 TEMENOS GROUP AG-REG CH TEMN SW 126.92 $15,969.52
71654QCJ9 PETROLEOS MEXICANOS 6.35000 02/12/2048 MX 117,790.86 $108,014.21
718172109 PHILIP MORRIS INTERNATIONAL US PM 4,965.47 $407,168.15
71943U104 PHYSICIANS REALTY TRUST US DOC 833.66 $12,454.89
7262610 CREDIT AGRICOLE SA FR ACA FP 1,648.24 $27,142.16
729640102 PLYMOUTH INDUSTRIAL REIT INC US 113.64 $1,954.66
733174AJ5 POPULAR INC 7.00000 07/01/2019 US 20,737.83 $21,100.74
7339451 ORPEA SA FR ORP FP 180 $23,066.82
7380062 AAREAL BANK AG DE ARL GR 616.33 $30,828.09
7380482 COMPAGNIE DE SAINT-GOBAIN FR SGO FP 716.7 $37,498.41
741503AZ9 PRICELINE GROUP INC/THE 3.60000 06/01/2026 US 116,131.83 $112,574.80
74340W103 PROLOGIS US PLD 535.87 $34,783.03
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 71,338.12 $75,885.93
74460D109 PUBLIC STORAGE INC US PSA 96.22 $19,415.98
74736K101 QORVO INC US QRVO 23,184.89 $1,562,661.60
749685103 RPM INTERNATIONAL INC US RPM 10,445.23 $504,504.54
758849103 REGENCY CENTERS CORP US REG 139.19 $8,191.47
75886F107 REGENERON PHARMACEUTICALS INC US REGN 2,507.62 $761,513.44
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 138.53 $4,232.05
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 8,295.13 $8,588.03
7759435 ILIAD SA FR ILD FP 112.81 $22,596.95
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 433.84 $31,418.35
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 92.91 $10,216.81
78410G104 SBA COMMUNICATIONS CORP US SBAC 5,185.29 $830,838.41
78442PGC4 SLM CORP 5.12500 04/05/2022 US 12,442.7 $12,567.12
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 104,518.65 $113,508.22
80282KAS5 SANTANDER HOLDINGS USA 3.40000 01/18/2023 US 77,974.23 $75,549.40
806857108 SCHLUMBERGER LTD NL SLB 14,407.15 $987,754.13
808513105 CHARLES SCHWAB CORP/THE US SCHW 19,572.36 $1,089,789.05
81211K100 SEALED AIR CORP US SEE 17,972.23 $788,082.29
812578102 SEATTLE GENETICS INC US SGEN 12,408.69 $635,200.64
81663AAD7 SEMGROUP CORP 6.37500 03/15/2025 US 19,078.8 $18,172.56
81762P102 SERVICENOW INC US NOW 10,705.7 $1,778,644.28
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 11,613.18 $11,293.82
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 9,124.64 $9,261.51
828806109 SIMON PROPERTY GROUP INC US SPG 247.19 $38,646.45
83088M102 SKYWORKS SOLUTIONS INC US SWKS 7,470.59 $648,148.80
84265V105 SOUTHERN COPPER CORPORATION US SCCO 8,166.56 $431,275.83
845467AL3 SOUTHWESTERN ENERGY CO 6.70000 01/23/2025 US 15,760.75 $15,445.53
852061AK6 SPRINT COMMUNICATIONS 9.00000 11/15/2018 US 4,977.08 $5,117.06
85208M102 SPROUTS FARMERS MARKET INC US SFM 20,353.76 $509,454.67
85254J102 STAG INDUSTRIAL INC US STAG 449.6 $11,046.58
862121100 STORE CAPITAL CORP US STOR 240.56 $6,069.30
866674104 SUN COMMUNITIES US SUI 150.97 $14,168.66
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 647.02 $10,093.52
87243QAB2 TENET HEALTHCARE CORP 6.00000 10/01/2020 US 5,806.59 $5,992.69
87470LAA9 TALLGRASS NRG PRTNR/FIN 5.50000 09/15/2024 US 14,931.24 $15,155.20
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 11,613.18 $10,248.63
88032WAG1 TENCENT HOLDINGS LTD 3.59500 01/19/2028 KY 77,974.23 $74,098.73
88146M101 TERRENO REALTY CORP US TRNO 113.64 $4,221.85
882508104 TEXAS INSTRUMENTS INC US TXN 4,729.05 $479,667.95
883556102 THERMO FISHER SCIENTIFIC INC US TMO 1,873.87 $394,168.56
893870204 TRANSPORTADOR GAS SUR-SP ADR AR TGS 650.34 $12,395.45
896356AE2 TRINIDAD DRILLING LTD 6.62500 02/15/2025 CA 17,419.77 $16,701.21
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 15,760.75 $16,150.04
902653104 UDR INC US UDR 511.81 $18,501.92
903002103 UMH PROPERTIES INC US UMH 404.8 $5,476.98
90320MAA3 UPCB FINANCE IV LTD 5.37500 01/15/2025 KY 14,101.72 $13,784.43
90384S303 ULTA BEAUTY INC US ULTA 3,236.76 $812,135.45
904767704 UNILEVER PLC - ADR GB UL 15,967.46 $893,698.90
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 304,431.3 $405,726.06
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 506,002.97 $634,480.29
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 223,761.16 $217,558.84
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 182,492.88 $179,135.29
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 217,670.56 $215,844.25
912828S92 US TREASURY N/B 1.25000 07/31/2023 US 2,159,886.13 $1,995,532.29
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 219,405.95 $214,308.98
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 900,851.19 $861,016.68
91704F104 URBAN EDGE PROPERTIES US UE 642.87 $13,223.89
92276F100 VENTAS INC US VTR 132.72 $6,824.57
92339V100 VEREIT INC US VER 884.26 $6,012.97
92343VDV3 VERIZON COMMUNICATIONS 5.50000 03/16/2047 US 104,518.65 $111,421.05
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 2,038.11 $312,157.48
92826C839 VISA INC - CLASS A SHARES US V 8,706.57 $1,104,689.50
929042109 VORNADO REALTY TRUST US VNO 207.38 $14,107.94
92960PAA7 W/S PACKAGING HOLDINGS 9.00000 04/15/2023 US 14,101.72 $14,419.01
948565AC0 WEEKLEY HOMES LLC/ FINAN 6.00000 02/01/2023 US 9,124.64 $9,010.59
94856TAA2 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 15,760.75 $15,287.93
95040Q104 WELLTOWER INC. US WELL 159.27 $8,511.20
962166104 WEYERHAEUSER CO US WY 254.49 $9,360.31
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 10,783.67 $10,797.15
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 9,954.16 $10,091.03
98416JAE0 XERIUM TECHNOLOGIES INC 9.50000 08/15/2021 US 10,783.67 $11,241.98
984245100 YPF S.A.-SPONSORED ADR AR YPF 621.31 $13,600.37
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 27,616.15 $1,002,466.21
B037HR3 ITAU UNIBANCO HOLDINGS S-PREF BR ITUB4 BZ 1,393.58 $20,236.22
B037JC2 NEXITY FR NXI FP 444.62 $27,802.10
B0386J1 JYSKE BANK-REG DK JYSK DC 258.81 $15,497.33
B06JSP1 SYDBANK A/S DK SYDB DC 367.47 $13,584.86
B0CGYD6 LOJAS RENNER S.A. BR LREN3 BZ 1,375.33 $12,759.28
B11ZRK9 LEGRAND SA FR LR FP 291.16 $22,655.92
B138HB7 KAUFMAN & BROAD SA FR KOF FP 446.28 $23,510.76
B13X013 EIFFAGE FR FGR FP 259.64 $30,905.05
B15C557 TOTAL SA FR FP FP 379.92 $23,878.41
B1FW751 GALP ENERGIA SGPS SA PT GALP PL 1,552.02 $29,787.94
B1HDJL2 NATIXIS FR KN FP 3,266.62 $26,828.56
B1HKSV6 BANCA GENERALI SPA IT BGN IM 682.69 $22,145.84
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 1,758.57 $9,276.13
B1WGG93 GEBERIT AG-REG CH GEBN SW 51.43 $21,946.75
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 360.84 $20,834.41
B1XH026 VINCI SA FR DG FP 7,564.33 $756,308.55
B1Y9TB3 DANONE FR BN FP 356.36 $28,867.09
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 3,981.66 $22,720.14
B1YY4B3 UNIBAIL-RODAMCO SE FR UL NA 126.92 $30,468.54
B232R05 SK INNOVATION CO LTD KR 096770 KS 81.29 $14,896.52
B249GC0 MATSUMOTOKIYOSHI HOLDINGS CO JP 3088 JP 331.81 $14,780.64
B283W97 CAIXABANK S.A ES CABK SM 112,170.08 $545,468.08
B3NB1P2 SUNCOR ENERGY INC CA SU CN 404.8 $15,480.20
B4Q2TX3 CHINA LONGYUAN POWER GROUP-H CN 916 HK 35,669.06 $35,034.87
B4R2R50 JULIUS BAER CH BAER SW 9,442.35 $560,387.93
B4WTBY3 HUANENG RENEWABLES CORP-H CN 958 HK 77,642.42 $34,481.21
B4X4D29 FLEURY SA BR FLRY3 BZ 2,470.29 $18,411.53
B4YVF56 BRENNTAG AG DE BNR GR 402.31 $23,041.29
B607XS1 VERMILION ENERGY INC CA VET CN 442.96 $14,972.91
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 1,568.94 $22,410.68
B63QM77 NEXON CO LTD JP 3659 JP 1,990.83 $28,969.38
B7FQV64 RAIA DROGASIL S.A. BR RADL3 BZ 869.33 $17,053.08
B7VQL46 FNAC DARTY SA FR FNAC FP 213.18 $22,873.99
BB22L96 KION GROUP AG DE KGX GR 415.59 $34,641.00
BDZZRC1 BOLSAS Y MERCADOS ARGENTINOS AR 1,456.62 $26,697.10
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 19,078.8 $18,220.25
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 4,078.72 $7,309.37
BGSH2S6 CVC BRASIL OPERADORA E AGENCIA BR CVCB3 BZ 879.28 $14,522.54
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 17,917.48 $17,091.43
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 13,998.2 $688,192.44
BNBNSG0 EURONEXT NV NL ENX FP 546.65 $39,186.04
BNGN9Z1 FINECOBANK SPA IT FBK IM 44,879.15 $534,410.15
BP269Z8 AXIA REAL ESTATE SOCIMI SA ES AXIA SM 174.2 $3,692.84
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 17,744.11 $550,034.79
BVRZ8L1 AENA SA ES AENA SM 281.2 $57,964.31
BVSS790 ELIS SA FR ELIS FP 992.93 $23,747.12
BYXS699 QIAGEN N.V. NL QIA GR 693.97 $22,700.74
BYY8LS2 MAISONS DU MONDE SA FR MDM FP 384.89 $15,639.90
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 11,197.27 $1,112,263.59
BYZ43T4 EUROBANK ERGASIAS SA GR EUROB GA 19,538.35 $24,661.49
BYZFYS3 SPIE SA FR SPIE FP 1,409.34 $31,889.14
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 3,410.96 $23,290.97
BYZR014 AMUNDI SA FR AMUN FP 424.71 $36,119.36
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 460.71 $28,183.12
BZ3C3Q4 BANKIA SA ES BKIA SM 81,512.6 $357,645.20
BZCNN35 BANCO COMERCIAL PORTUGUES-R PT BCP PL 39,294.03 $13,153.81
G02602103 AMDOCS LTD GG DOX 10,656.42 $716,644.42
G06242104 ATLASSIAN CORP PLC-CLASS A AU TEAM 10,100.48 $565,425.03
G0750C108 AXALTA COATING SYSTEMS LTD US AXTA 16,522.24 $510,537.26
G3157S106 ENSCO INTERNATIONAL INC US ESV 26,342.85 $148,837.08
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 11,613.18 $12,309.97
G45667105 HOLLYSYS AUTOMATION TECHNOLOGIES CN HOLI 655.32 $14,456.26
G57279104 LUXOFT HOLDING INC CH LXFT 155.95 $6,292.52
G5960L103 MEDTRONIC INC IE MDT 20,013.66 $1,603,694.72
G68707101 PAGSEGURO DIGITAL LTD-CL A BR PAGS 10,023.01 $333,064.50
G97822103 PERRIGO CO PLC IE PRGO 13,964.85 $1,091,213.57
H8817H100 TRANSOCEAN LTD US RIG 39,561.14 $489,371.27
N47279109 INTERXION HOLDING NX NL INXN 315.22 $20,495.28
N72482123 QIAGEN N.V. ADR NL QGEN 25,767.33 $842,849.38
USD US DOLLAR US 762,445.34 $762,445.34

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

$12.45

Daily $ Change

-$0.03

Daily % Change

-0.24%

as of 05/18/2018

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

Annualized Performance

As of 04/30/2018

YTD

0.50%

1 Year

12.49%

3 Year

6.96%

5 Year

8.93%

10 Year

7.13%

Inception
(01/01/2000)

7.68%

US Stock Market Cycle (04/01/2000 - 04/30/2018)

7.84%

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. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.49%
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 04/30/2018

TREASURY NOTES 3.84%
SERVICENOW INC 2.39%
MEDTRONIC INC 2.16%
QORVO INC 2.10%
BOOKING HOLDINGS INC 1.98%
O'REILLY AUTOMOTIVE INC 1.91%
INCYTE CORP 1.89%
FACEBOOK INC -A 1.87%
MASTERCARD INC-CLASS A 1.79%
TREASURY BONDS 1.64%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 04/30/2018

Stocks
88.77%
Bonds
10.22%
Cash
1.01%

Detailed Asset Class Allocation

As of 04/30/2018

International Equities
31.21%
Small Capitalization
1.44%
Mid Capitalization
11.50%
Large Capitalization
44.63%
Long Term Fixed Income
2.80%
Intermediate Term Fixed Income
6.67%
Short Term Fixed Income
0.74%
Cash
1.01%

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

April Fund Holdings

As of 04/30/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00163UAB2 AMAG PHARMACEUTICALS INC 7.87500 09/01/2023 US 12,442.7 $12,380.48
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 74,656.18 $74,113.60
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 12,442.7 $12,971.51
004239109 ACADIA REALTY TRUST US AKR 183.32 $4,326.41
0045614 ANTOFAGASTA PLC GB ANTO LN 14,744.59 $197,002.70
0053673 ASHTEAD GROUP PLC GB AHT LN 1,029.43 $28,590.17
00724F101 ADOBE SYS INC US ADBE 3,045.97 $674,987.39
00790X101 ADVANCED DISPOSAL SERVICES US ADSW 22,530.4 $496,570.11
008492100 AGREE REALTY CORP US ADC 83.78 $4,095.21
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 5,806.59 $6,031.60
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 63.87 $7,956.60
01609W102 ALIBABA GROUP - ADR CN BABA 6,306.79 $1,126,013.90
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 119,449.88 $112,460.75
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 11,613.18 $11,729.31
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 9,124.64 $9,120.08
02079K107 ALPHABET INC-CL C US GOOG 369.96 $376,374.28
02079K305 ALPHABET INC-CL A US GOOGL 366.64 $373,457.04
02209S103 ALTRIA GROUP INC US MO 7,771.71 $436,070.53
023135106 AMAZON.COM INC US AMZN 461.21 $722,313.67
02319V103 AMBEV SA-ADR BR ABEV 153,911.17 $1,018,891.96
0237400 DIAGEO PLC GB DGE LN 32,135.34 $1,146,425.57
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 237.24 $9,278.49
0263494 BAE SYSTEMS PLC GB BA/ LN 1,485.66 $12,465.09
02665T306 AMERICAN HOMES 4 RENT- A US AMH 802.14 $16,203.21
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 77,974.23 $74,964.74
03027X100 AMERICAN TOWER REIT INC US AMT 5,974.15 $814,635.52
03064D108 AMERICOLD REALTY TRUST US COLD 211.53 $4,359.55
034863AT7 ANGLO AMERICAN CAPITAL 4.00000 09/11/2027 GB 77,974.23 $73,457.78
03748R101 APARTMENT INVT & MGMT CO -A US AIV 284.52 $11,551.63
03784Y200 APPLE HOSPITALITY REIT INC US APLE 408.95 $7,357.01
0405207 HALMA PLC GB HLMA LN 1,325.56 $22,241.77
04621WAC4 ASSURED GUARANTY US HLDG 5.00000 07/01/2024 US 76,315.2 $79,188.76
0490656 KERRY GROUP PLC-A IE KYGA LN 281.2 $28,592.85
053332102 AUTOZONE INC US AZO 1,253.39 $782,769.77
053484101 AVALONBAY COMMUNITIES INC US AVB 194.94 $31,774.50
05501U106 AZUL S.A SPONSORED ADR PFD BR AZUL 600.57 $18,617.59
0557681 HOWDEN JOINERY GROUP INC GB HWDN LN 1,925.3 $12,601.10
058498106 BALL CORP US BLL 19,788.86 $793,335.55
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 114,472.8 $113,144.57
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 12,986.86 $1,084,532.39
09062X103 BIOGEN IDEC INC US BIIB 2,372.41 $649,090.66
09247X101 BLACKROCK INC US BLK 1,302.34 $679,167.97
0946580 WEIR GROUP PLC/THE GB WEIR LN 1,840.69 $53,862.29
09627J102 BLUEROCK RESIDENTIAL GROWTH US 360.01 $3,236.48
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 104,518.65 $111,494.11
09857L108 BOOKING HOLDINGS INC US BKNG 675.22 $1,470,637.08
101121101 BOSTON PROPERTIES INC US BXP 150.14 $18,228.72
105368203 BRANDYWINE REALTY TRUST US BDN 457.89 $7,376.63
110122108 BRISTOL MYERS SQUIBB CO US BMY 5,095.7 $265,638.78
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 433.01 $23,650.78
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 22,396.85 $21,053.04
1248EPBR3 CCO HLDGS LLC/CAP CORP 5.50000 05/01/2026 US 8,295.13 $8,076.97
125269100 CF INDUSTRIES HOLDINGS INC US CF 18,138.13 $703,759.55
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 74,656.18 $74,842.82
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 21,567.34 $20,205.90
13321L108 CAMECO CORP CA CCJ 1,208.93 $12,730.06
134429109 CAMPBELL SOUP CO US CPB 19,312.72 $787,572.85
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 1,049.33 $13,683.32
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 20,737.83 $19,726.86
15672WAJ3 CEQUEL COM HLDG I/CAP CP 7.50000 04/01/2028 US 9,124.64 $9,250.11
16411QAA9 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 14,931.24 $14,595.28
165240102 CHESAPEAKE LODGING TRUST US CHSP 210.7 $6,223.97
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 76,315.2 $110,529.31
191216100 COCA COLA CO/THE US KO 16,645.84 $719,266.69
19238VAG0 COGECO CABLE INC 4.87500 05/01/2020 CA 5,806.59 $5,835.62
19625W104 COLONY NORTHSTAR INC-CLASS A US CLNS 868 $5,303.50
198287203 COLUMBIA PROPERTY TRUST INC US CXP 227.29 $4,854.84
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 465.36 $11,866.60
21871N101 CORECIVIC INC US CXW 636.24 $12,826.53
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 66,361.05 $74,381.27
222795106 COUSINS PROPERTIES INC US CUZ 2,199.04 $19,549.46
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 10,783.67 $10,675.83
22822V101 CROWN CASTLE INTL CORP US CCI 94.56 $9,538.72
229663109 CUBESMART US CUBE 302.77 $8,913.62
23311RAC0 DCP MIDSTREAM OPERATING 9.75000 03/15/2019 US 5,806.59 $6,111.44
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 11,851.25 $170,760.69
23918K108 DAVITA INC. US DVA 8,510.8 $534,393.39
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 15,760.75 $14,936.46
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 4,645.27 $14,517.99
25271C102 DIAMOND OFFSHORE DRILLING US DO 15,944.9 $293,226.71
253393102 DICK'S SPORTING GOODS INC US DKS 21,632.87 $715,831.71
253868103 DIGITAL REALTY TRUST INC US DLR 214.84 $22,706.85
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 77,974.23 $76,264.70
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 16,590.26 $16,673.21
2643674 GRUPO MEXICO SAB DE CV-SER MX GMEXICOB MM 10,188.08 $33,731.38
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 21,567.34 $21,836.93
269246401 ETRADE FINANCIAL CORP US ETFC 14,184.67 $860,725.99
2715777 QUEBECOR INC -CL B CA QBR/B CN 14,566.25 $271,596.26
277276101 EASTGROUP PROPERTIES US EGP 36.5 $3,276.84
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 24,876.27 $511,300.83
285512109 ELECTRONIC ARTS US EA 6,168.26 $727,731.22
2866857 LUNDIN MINING CORP CA LUN CN 27,962.89 $185,119.77
294429105 EQUIFAX INC US EFX 4,188.21 $469,289.10
29444U700 EQUINIX INC US EQIX 109.5 $46,074.71
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 110.33 $9,836.60
29476L107 EQUITY RESIDENTIAL US EQR 227.29 $14,025.85
297178105 ESSEX PROPERTY TRUST INC US ESS 38.99 $9,344.82
30225T102 EXTRA SPACE STORAGE INC US EXR 158.44 $14,194.37
30303M102 FACEBOOK INC -A US FB 8,092.73 $1,391,949.47
31428X106 FEDEX CORPORATION US FDX 3,199.43 $790,899.57
32054K103 FIRST INDUSTRIAL REALTY TR US FR 454.57 $14,141.77
336130AB5 FIRST QUALITY FINANCE CO 5.00000 07/01/2025 US 4,977.08 $4,765.55
345605109 FOREST CITY REALTY TRUST - A US FCE/A 339.27 $6,805.77
35671D857 FREEPORT-MCMORAN INC US FCX 35,139.83 $534,476.85
35802XAA1 FRESENIUS MED CARE US 6.50000 09/15/2018 US 6,636.1 $6,721.28
36174X101 GGP INC US GGP 394.85 $7,893.02
371559105 GENESEE & WYOMING INC -CL A US GWR 7,274 $517,908.81
374297109 GETTY REALTY CORP US GTY 253.83 $6,358.47
37950E366 GLOBAL X MSCI GREECE ETF GR 2,898.32 $30,925.06
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 22,396.85 $22,004.91
37954A204 GLOBAL MEDICAL REIT INC US GMRE 516.79 $4,025.77
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 10,783.67 $10,675.83
399909100 GRUPO FINANCIERO GALICIA-ADR AR GGAL 228.12 $14,581.18
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 89.59 $9,332.32
40054A108 GRUPO SUPERVIELLE SA-SP ADR AR SUPV 461.21 $12,886.19
40414L109 HCP INC US HCP 615.5 $14,378.05
410345AL6 HANESBRANDS INC 4.87500 05/15/2026 US 9,954.16 $9,555.99
4116099 BPER BANCA IT BPE IM 2,970.49 $17,147.07
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 315.22 $7,877.22
431318AQ7 HILCORP ENERGY I/HILCORP 5.75000 10/01/2025 US 11,613.18 $11,497.05
431475AB8 HILL-ROM HOLDINGS INC 5.00000 02/15/2025 US 14,931.24 $14,827.16
44107P104 HOST MARRIOTT CORP US HST 835.32 $16,338.85
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 21,567.34 $21,082.07
4457624 TRIGANO SA FR TRI FP 126.92 $23,916.69
4497749 KBC GROEP NV BE KBC BB 316.04 $27,476.87
45031UCD1 ISTAR INC 5.25000 09/15/2022 US 16,590.26 $16,092.55
45337C102 INCYTE CORP US INCY 22,659.81 $1,403,548.54
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 577.34 $5,427.01
45763PAE6 INMARSAT FINANCE PLC 4.87500 05/15/2022 GB 21,567.34 $20,812.48
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 10,783.67 $11,137.46
46115HBD8 INTESA SANPAOLO SPA 3.87500 01/12/2028 IT 119,449.88 $111,574.11
46120E602 INTUITIVE SURGICAL INC US ISRG 1,257.54 $554,299.28
46187W107 INVITATION HOMES INC US INVH 698.78 $16,169.81
464286608 ISHARES MSCI EMU XX 982.14 $43,538.42
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478160104 JOHNSON & JOHNSON US JNJ 7,206.81 $911,589.34
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 20,737.83 $16,590.26
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5107401 BEIERSDORF AG DE BEI GR 6,426.24 $727,052.51
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5129074 FRESENIUS MEDICAL DE FME GR 3,493.74 $354,512.64
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5263574 FLSMIDTH & CO A/S DK FLS DC 183.32 $11,323.39
5289837 ERSTE GROUP BANK AG AT EBS AV 461.21 $22,553.87
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550021109 LULULEMON - ADR CA LULU 7,507.43 $749,241.02
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57636Q104 MASTERCARD INC-CLASS A US MA 7,456.49 $1,329,269.00
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6291819 CHINA PETROLEUM & CHEMICAL - H CN 386 HK 16,258.46 $15,833.45
6356934 FANUC LTD JP 6954 JP 67.52 $14,464.01
637417106 NATIONAL RETAIL PROPERTIES US NNN 144.34 $5,490.51
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64110W102 NETEASE.COM INC- ADR CN NTES 66.36 $17,059.43
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6451066 HYUNDAI MIPO DOCKYARD KR 010620 KS 87.93 $7,302.10
6482903 KANAMOTO CO LTD JP 9678 JP 447.94 $15,306.08
6490995 KEYENCE CORP JP 6861 JP 99.54 $60,698.42
654106103 NIKE INC CLASS B US NKE 10,501.64 $718,206.85
6630940 CHINA EVERBRIGHT INTL LTD HK 257 HK 20,903.73 $29,320.73
6642387 YAMAHA CORP JP 7951 JP 315.22 $15,210.04
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67091GAA1 OCI NV 6.62500 04/15/2023 NL 14,931.24 $15,140.27
67103H107 O'REILLY AUTOMOTIVE INC US ORLY 5,560.23 $1,423,807.10
6772217 SAMSUNG HEAVY INDUSTRIES KR 010140 KS 1,058.46 $7,235.34
680665205 OLIN CORP US OLN 16,441.78 $496,377.29
6865504 SUZUKI MOTOR CORP JP 7269 JP 381.58 $20,508.90
69007J106 OUTFRONT MEDIA INC US OUT 276.23 $5,179.27
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 14,101.72 $14,383.76
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7145056 ENI SPA IT ENI IM 788.04 $15,404.86
7147892 TEMENOS GROUP AG-REG CH TEMN SW 126.92 $15,969.52
71654QCJ9 PETROLEOS MEXICANOS 6.35000 02/12/2048 MX 117,790.86 $108,014.21
718172109 PHILIP MORRIS INTERNATIONAL US PM 4,965.47 $407,168.15
71943U104 PHYSICIANS REALTY TRUST US DOC 833.66 $12,454.89
7262610 CREDIT AGRICOLE SA FR ACA FP 1,648.24 $27,142.16
729640102 PLYMOUTH INDUSTRIAL REIT INC US 113.64 $1,954.66
733174AJ5 POPULAR INC 7.00000 07/01/2019 US 20,737.83 $21,100.74
7339451 ORPEA SA FR ORP FP 180 $23,066.82
7380062 AAREAL BANK AG DE ARL GR 616.33 $30,828.09
7380482 COMPAGNIE DE SAINT-GOBAIN FR SGO FP 716.7 $37,498.41
741503AZ9 PRICELINE GROUP INC/THE 3.60000 06/01/2026 US 116,131.83 $112,574.80
74340W103 PROLOGIS US PLD 535.87 $34,783.03
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 71,338.12 $75,885.93
74460D109 PUBLIC STORAGE INC US PSA 96.22 $19,415.98
74736K101 QORVO INC US QRVO 23,184.89 $1,562,661.60
749685103 RPM INTERNATIONAL INC US RPM 10,445.23 $504,504.54
758849103 REGENCY CENTERS CORP US REG 139.19 $8,191.47
75886F107 REGENERON PHARMACEUTICALS INC US REGN 2,507.62 $761,513.44
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 138.53 $4,232.05
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 8,295.13 $8,588.03
7759435 ILIAD SA FR ILD FP 112.81 $22,596.95
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 433.84 $31,418.35
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 92.91 $10,216.81
78410G104 SBA COMMUNICATIONS CORP US SBAC 5,185.29 $830,838.41
78442PGC4 SLM CORP 5.12500 04/05/2022 US 12,442.7 $12,567.12
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 104,518.65 $113,508.22
80282KAS5 SANTANDER HOLDINGS USA 3.40000 01/18/2023 US 77,974.23 $75,549.40
806857108 SCHLUMBERGER LTD NL SLB 14,407.15 $987,754.13
808513105 CHARLES SCHWAB CORP/THE US SCHW 19,572.36 $1,089,789.05
81211K100 SEALED AIR CORP US SEE 17,972.23 $788,082.29
812578102 SEATTLE GENETICS INC US SGEN 12,408.69 $635,200.64
81663AAD7 SEMGROUP CORP 6.37500 03/15/2025 US 19,078.8 $18,172.56
81762P102 SERVICENOW INC US NOW 10,705.7 $1,778,644.28
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 11,613.18 $11,293.82
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 9,124.64 $9,261.51
828806109 SIMON PROPERTY GROUP INC US SPG 247.19 $38,646.45
83088M102 SKYWORKS SOLUTIONS INC US SWKS 7,470.59 $648,148.80
84265V105 SOUTHERN COPPER CORPORATION US SCCO 8,166.56 $431,275.83
845467AL3 SOUTHWESTERN ENERGY CO 6.70000 01/23/2025 US 15,760.75 $15,445.53
852061AK6 SPRINT COMMUNICATIONS 9.00000 11/15/2018 US 4,977.08 $5,117.06
85208M102 SPROUTS FARMERS MARKET INC US SFM 20,353.76 $509,454.67
85254J102 STAG INDUSTRIAL INC US STAG 449.6 $11,046.58
862121100 STORE CAPITAL CORP US STOR 240.56 $6,069.30
866674104 SUN COMMUNITIES US SUI 150.97 $14,168.66
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 647.02 $10,093.52
87243QAB2 TENET HEALTHCARE CORP 6.00000 10/01/2020 US 5,806.59 $5,992.69
87470LAA9 TALLGRASS NRG PRTNR/FIN 5.50000 09/15/2024 US 14,931.24 $15,155.20
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 11,613.18 $10,248.63
88032WAG1 TENCENT HOLDINGS LTD 3.59500 01/19/2028 KY 77,974.23 $74,098.73
88146M101 TERRENO REALTY CORP US TRNO 113.64 $4,221.85
882508104 TEXAS INSTRUMENTS INC US TXN 4,729.05 $479,667.95
883556102 THERMO FISHER SCIENTIFIC INC US TMO 1,873.87 $394,168.56
893870204 TRANSPORTADOR GAS SUR-SP ADR AR TGS 650.34 $12,395.45
896356AE2 TRINIDAD DRILLING LTD 6.62500 02/15/2025 CA 17,419.77 $16,701.21
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 15,760.75 $16,150.04
902653104 UDR INC US UDR 511.81 $18,501.92
903002103 UMH PROPERTIES INC US UMH 404.8 $5,476.98
90320MAA3 UPCB FINANCE IV LTD 5.37500 01/15/2025 KY 14,101.72 $13,784.43
90384S303 ULTA BEAUTY INC US ULTA 3,236.76 $812,135.45
904767704 UNILEVER PLC - ADR GB UL 15,967.46 $893,698.90
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 304,431.3 $405,726.06
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 506,002.97 $634,480.29
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 223,761.16 $217,558.84
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 182,492.88 $179,135.29
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 217,670.56 $215,844.25
912828S92 US TREASURY N/B 1.25000 07/31/2023 US 2,159,886.13 $1,995,532.29
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 219,405.95 $214,308.98
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 900,851.19 $861,016.68
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92276F100 VENTAS INC US VTR 132.72 $6,824.57
92339V100 VEREIT INC US VER 884.26 $6,012.97
92343VDV3 VERIZON COMMUNICATIONS 5.50000 03/16/2047 US 104,518.65 $111,421.05
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 2,038.11 $312,157.48
92826C839 VISA INC - CLASS A SHARES US V 8,706.57 $1,104,689.50
929042109 VORNADO REALTY TRUST US VNO 207.38 $14,107.94
92960PAA7 W/S PACKAGING HOLDINGS 9.00000 04/15/2023 US 14,101.72 $14,419.01
948565AC0 WEEKLEY HOMES LLC/ FINAN 6.00000 02/01/2023 US 9,124.64 $9,010.59
94856TAA2 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 15,760.75 $15,287.93
95040Q104 WELLTOWER INC. US WELL 159.27 $8,511.20
962166104 WEYERHAEUSER CO US WY 254.49 $9,360.31
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 10,783.67 $10,797.15
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 9,954.16 $10,091.03
98416JAE0 XERIUM TECHNOLOGIES INC 9.50000 08/15/2021 US 10,783.67 $11,241.98
984245100 YPF S.A.-SPONSORED ADR AR YPF 621.31 $13,600.37
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 27,616.15 $1,002,466.21
B037HR3 ITAU UNIBANCO HOLDINGS S-PREF BR ITUB4 BZ 1,393.58 $20,236.22
B037JC2 NEXITY FR NXI FP 444.62 $27,802.10
B0386J1 JYSKE BANK-REG DK JYSK DC 258.81 $15,497.33
B06JSP1 SYDBANK A/S DK SYDB DC 367.47 $13,584.86
B0CGYD6 LOJAS RENNER S.A. BR LREN3 BZ 1,375.33 $12,759.28
B11ZRK9 LEGRAND SA FR LR FP 291.16 $22,655.92
B138HB7 KAUFMAN & BROAD SA FR KOF FP 446.28 $23,510.76
B13X013 EIFFAGE FR FGR FP 259.64 $30,905.05
B15C557 TOTAL SA FR FP FP 379.92 $23,878.41
B1FW751 GALP ENERGIA SGPS SA PT GALP PL 1,552.02 $29,787.94
B1HDJL2 NATIXIS FR KN FP 3,266.62 $26,828.56
B1HKSV6 BANCA GENERALI SPA IT BGN IM 682.69 $22,145.84
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 1,758.57 $9,276.13
B1WGG93 GEBERIT AG-REG CH GEBN SW 51.43 $21,946.75
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 360.84 $20,834.41
B1XH026 VINCI SA FR DG FP 7,564.33 $756,308.55
B1Y9TB3 DANONE FR BN FP 356.36 $28,867.09
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 3,981.66 $22,720.14
B1YY4B3 UNIBAIL-RODAMCO SE FR UL NA 126.92 $30,468.54
B232R05 SK INNOVATION CO LTD KR 096770 KS 81.29 $14,896.52
B249GC0 MATSUMOTOKIYOSHI HOLDINGS CO JP 3088 JP 331.81 $14,780.64
B283W97 CAIXABANK S.A ES CABK SM 112,170.08 $545,468.08
B3NB1P2 SUNCOR ENERGY INC CA SU CN 404.8 $15,480.20
B4Q2TX3 CHINA LONGYUAN POWER GROUP-H CN 916 HK 35,669.06 $35,034.87
B4R2R50 JULIUS BAER CH BAER SW 9,442.35 $560,387.93
B4WTBY3 HUANENG RENEWABLES CORP-H CN 958 HK 77,642.42 $34,481.21
B4X4D29 FLEURY SA BR FLRY3 BZ 2,470.29 $18,411.53
B4YVF56 BRENNTAG AG DE BNR GR 402.31 $23,041.29
B607XS1 VERMILION ENERGY INC CA VET CN 442.96 $14,972.91
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 1,568.94 $22,410.68
B63QM77 NEXON CO LTD JP 3659 JP 1,990.83 $28,969.38
B7FQV64 RAIA DROGASIL S.A. BR RADL3 BZ 869.33 $17,053.08
B7VQL46 FNAC DARTY SA FR FNAC FP 213.18 $22,873.99
BB22L96 KION GROUP AG DE KGX GR 415.59 $34,641.00
BDZZRC1 BOLSAS Y MERCADOS ARGENTINOS AR 1,456.62 $26,697.10
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 19,078.8 $18,220.25
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 4,078.72 $7,309.37
BGSH2S6 CVC BRASIL OPERADORA E AGENCIA BR CVCB3 BZ 879.28 $14,522.54
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 17,917.48 $17,091.43
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 13,998.2 $688,192.44
BNBNSG0 EURONEXT NV NL ENX FP 546.65 $39,186.04
BNGN9Z1 FINECOBANK SPA IT FBK IM 44,879.15 $534,410.15
BP269Z8 AXIA REAL ESTATE SOCIMI SA ES AXIA SM 174.2 $3,692.84
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 17,744.11 $550,034.79
BVRZ8L1 AENA SA ES AENA SM 281.2 $57,964.31
BVSS790 ELIS SA FR ELIS FP 992.93 $23,747.12
BYXS699 QIAGEN N.V. NL QIA GR 693.97 $22,700.74
BYY8LS2 MAISONS DU MONDE SA FR MDM FP 384.89 $15,639.90
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 11,197.27 $1,112,263.59
BYZ43T4 EUROBANK ERGASIAS SA GR EUROB GA 19,538.35 $24,661.49
BYZFYS3 SPIE SA FR SPIE FP 1,409.34 $31,889.14
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 3,410.96 $23,290.97
BYZR014 AMUNDI SA FR AMUN FP 424.71 $36,119.36
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 460.71 $28,183.12
BZ3C3Q4 BANKIA SA ES BKIA SM 81,512.6 $357,645.20
BZCNN35 BANCO COMERCIAL PORTUGUES-R PT BCP PL 39,294.03 $13,153.81
G02602103 AMDOCS LTD GG DOX 10,656.42 $716,644.42
G06242104 ATLASSIAN CORP PLC-CLASS A AU TEAM 10,100.48 $565,425.03
G0750C108 AXALTA COATING SYSTEMS LTD US AXTA 16,522.24 $510,537.26
G3157S106 ENSCO INTERNATIONAL INC US ESV 26,342.85 $148,837.08
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 11,613.18 $12,309.97
G45667105 HOLLYSYS AUTOMATION TECHNOLOGIES CN HOLI 655.32 $14,456.26
G57279104 LUXOFT HOLDING INC CH LXFT 155.95 $6,292.52
G5960L103 MEDTRONIC INC IE MDT 20,013.66 $1,603,694.72
G68707101 PAGSEGURO DIGITAL LTD-CL A BR PAGS 10,023.01 $333,064.50
G97822103 PERRIGO CO PLC IE PRGO 13,964.85 $1,091,213.57
H8817H100 TRANSOCEAN LTD US RIG 39,561.14 $489,371.27
N47279109 INTERXION HOLDING NX NL INXN 315.22 $20,495.28
N72482123 QIAGEN N.V. ADR NL QGEN 25,767.33 $842,849.38
USD US DOLLAR US 762,445.34 $762,445.34

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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