Investment Objective

To provide capital growth and manage risk for investors planning to retire in or around the year indicated in the fund’s name.

Investment Strategy

Currently: The portfolio is currently invested in an aggressive, growth-oriented mix of securities that seeks to earn the long-term growth typically associated with the stock market. The portfolio is diversified primarily among various stock investments in both domestic and foreign markets, with only a minor portion of the portfolio invested in fixed income securities. Stock exposure can range from 70% - 95%.

Over Time: The portfolio’s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. During the target year, the portfolio’s stock exposure can range from 20% - 60%. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 13% - 47%.

May be Appropriate for Investors

  • Who plan to stop contributions and start periodic withdrawals around the year 2055
  • 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

$23.95

Daily $ Change

$0.35

Daily % Change

1.46%

as of 06/23/2022

CUSIP

302027545

Inception Date

10/11/2012

This fund is only available for use within certain qualified employee benefit plans.

Important Documents

Annual Report
Applications & Forms

Each Retirement Target CIT Fund seeks to achieve its investment objectives by investing in a combination of other Manning & Napier CIT Funds (the “underlying CIT Funds”) in order to meet its target asset allocations and investment style. The financial statements of the underlying Pro-Mix® CIT Funds should be read in conjunction with the Retirement Target CIT Funds’ financial statements.
Pro-Mix® CIT Fund Annual Report

Performance

As of 05/31/2022

YTD

-14.38%

1 Year

-7.80%

3 Year

12.52%

5 Year

10.50%

10 Year

10.87%

Inception
(01/01/2000)

7.94%

Performance through the inception date of the Retirement Target CIT Class I units is based on the historical performance of the CIT’s oldest unit class. Performance through the inception date of the oldest unit class (08/17/2012) 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 I 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 0.73%
Net 0.69%*

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

Top Ten Investments

As of 05/31/2022

TREASURY NOTES 8.55%
AMAZON.COM INC 2.92%
MICROSOFT CORP 2.80%
MASTERCARD INC-CLASS A 2.28%
MEDTRONIC INC 2.21%
PAYPAL HOLDINGS INC 1.97%
JOHNSON & JOHNSON 1.97%
COCA COLA CO/THE 1.97%
MONDELEZ INTERNATIONAL INC 1.87%
SERVICENOW INC 1.77%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2022

Stocks 82.54%
Bonds 12.54%
Cash 4.92%

Detailed Asset Class Allocation

As of 05/31/2022

International Equities 22.61%
Small Capitalization 2.21%
Mid Capitalization 6.68%
Large Capitalization 51.04%
Long Term Fixed Income 1.38%
Intermediate Term Fixed Income 9.90%
Short Term Fixed Income 1.26%
Cash 4.92%

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

May Fund Holdings

As of 05/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 55.04 $6,464.98
ACCOR SA-SPONSORED ADR FR ACCYY 13,340.11 $89,245.32
ACTIVISION INC US ATVI 1,307.81 $101,852.29
ADIDAS AG-SPONSORED ADR DE ADDYY 755.62 $74,912.33
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 10,230.46 $8,971.68
ADYEN NV UNSPON ADR NL ADYEY 9,049.71 $140,089.50
AGREE REALTY CORP US ADC 46.55 $3,238.38
AIR LIQUIDE-ADR FR AIQUY 3,940.01 $137,545.57
AIR LEASE CORP 3.62500 04/01/2027 US 10,230.46 $9,729.12
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 2,584.68 $2,711.69
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 24,041.58 $20,931.64
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 12,788.07 $10,637.70
ALIGN TECHNOLOGY INC US ALGN 465.74 $129,308.49
ALLSTATE CORPORATION US ALL 19.95 $2,726.88
ALPHABET INC-CL A US GOOGL 94.79 $215,659.06
AMAZON.COM INC US AMZN 210.85 $506,922.82
AMAZON.COM INC 3.30000 04/13/2027 US 22,507.01 $22,486.27
DIAGEO PLC GB DGE LN 3,094.87 $143,791.46
AMERICAN HOMES 4 RENT- A US AMH 165.73 $6,125.51
AMERICAN TOWER REIT INC US AMT 24.81 $6,354.29
ANALOG DEVICES INC US ADI 30.49 $5,133.97
APPLE HOSPITALITY REIT INC US APLE 564.93 $9,439.91
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 2,557.61 $2,587.29
ARCHER-DANIELS-MIDLAND CO US ADM 36.22 $3,289.12
ARGO BLOCKCHAIN PLC GB 184.15 $3,861.59
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 10,230.46 $9,728.16
AUTOMATIC DATA PROCESSING US ADP 21.13 $4,709.81
AVALONBAY COMMUNITIES INC US AVB 39.34 $8,180.34
AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 KY 28,133.76 $24,378.89
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 6,649.8 $6,732.05
BANK OF AMERICA CORP 2.68700 04/22/2032 US 18,414.82 $16,111.33
BARRICK GOLD CORP CA GOLD 2,801.97 $57,412.34
BAXTER INTERNATIONAL INC US BAX 27.88 $2,120.12
BEST BUY INC US BBY 19.03 $1,561.49
BIOMARIN PHARMACEUTICAL INC US BMRN 2,363.54 $177,572.96
BLACKROCK INC US BLK 261.75 $175,129.19
BLACKSTONE PRIVATE CRE 2.62500 12/15/2026 US 10,741.98 $9,345.91
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 10,741.98 $9,772.45
DECHRA PHARMACEUTICALS PLC GB DPH LN 279.85 $12,827.80
BOSTON SCIENTIFIC CORP US BSX 2,205.18 $90,434.23
BRANDYWINE REALTY TRUST US BDN 280.98 $3,132.92
BRISTOL MYERS SQUIBB CO US BMY 94.79 $7,151.54
BROADRIDGE FINANCIAL SOLUTIONS US BR 10.74 $1,570.69
JONAH ENERGY PARENT LLC US 101.84 $5,464.96
CBOE GLOBAL MARKETS INC US CBOE 721.76 $81,060.73
CDW CORP/DE US CDW 465.95 $79,145.62
C.H. ROBINSON WORLDWIDE INC US CHRW 13.35 $1,448.69
COTERRA ENERGY INC US CTRA 49 $1,682.30
CAMDEN PROPERTY TRUST US CPT 37.9 $5,438.82
CAMECO CORP CA CCJ 181.08 $4,431.01
CAMPBELL SOUP CO US CPB 30.33 $1,453.27
CANADIAN NATIONAL RAILWAY CO CA CNI 2,027.68 $230,709.05
CARETRUST REIT INC US CTRE 187.63 $3,476.72
CATERPILLAR INC US CAT 26.8 $5,785.60
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 23,530.05 $26,516.14
CENTURYLINK INC 7.50000 04/01/2024 US 7,928.6 $8,202.30
CHARTER COMMUNICATIONS INC-A US CHTR 436.02 $221,032.68
CHEVRON CORP US CVX 50.74 $8,862.78
CINCINNATI FINANCIAL CORP US CINF 14.73 $1,883.62
CISCO SYSTEMS INC US CSCO 172.08 $7,752.04
CITIGROUP INC US C 105.58 $5,638.94
CITIGROUP INC 1.46200 06/09/2027 US 17,391.78 $15,666.03
CLARK CNTY NV 1.51000 11/01/2028 US 17,903.3 $15,750.25
COCA COLA CO/THE US KO 5,386.39 $341,389.21
COGNEX CORP US CGNX 1,264.74 $61,238.73
COLGATE-PALMOLIVE CO US CL 50.9 $4,011.16
COMCAST CORP-CL A US CMCSA 184.2 $8,156.35
COMMUNITY HEALTHCARE TRUST I US CHCT 97.75 $3,683.30
CONAGRA BRAND INC. US CAG 46.19 $1,519.21
CONOCOPHILLIPS US COP 45.37 $5,098.01
CONSTELLATION BRANDS INC-A US STZ 1,109.44 $272,334.72
CONTROLADORA VUELA CIA DE AV MX VLRS 360.93 $5,623.30
COPART INC US CPRT 673.93 $77,185.36
COUSINS PROPERTIES INC US CUZ 231.41 $7,995.32
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 12,788.07 $11,629.87
CUMMINS INC US CMI 11.66 $2,438.91
KIMBERLY CLARK DE MEXICO S.A.B. MX 7,979.76 $12,346.41
DEVON ENERGY CORPORATION US DVN 35.81 $2,681.91
DIAMONDBACK ENERGY INC US FANG 10.33 $1,570.79
DIGITAL REALTY TRUST INC US DLR 71.36 $9,960.79
WALT DISNEY CO/THE US DIS 735.77 $81,258.94
DOLLAR GENERAL CORP US DG 921.51 $203,045.18
DOLLAR TREE STORES INC US DLTR 1,314.15 $210,698.22
DOMINO'S PIZZA US DPZ 299.19 $108,656.74
DOUBLEVERIFY HOLDINGS INC US DV 5,657.29 $125,874.69
DOW INC US DOW 37.19 $2,528.02
DUKE RLTY INVTS INC US DRE 161.44 $8,528.70
EOG RESOURCES INC US EOG 24.35 $3,334.77
EAST WEST BANCORP INC US EWBC 1,725.21 $126,872.18
EASTMAN CHEM CO US EMN 13.3 $1,465.08
EBAY INC US EBAY 34.22 $1,665.53
ECO MATERIAL TECH INC 7.87500 01/31/2027 US 4,603.71 $4,362.52
ELECTRONIC ARTS US EA 1,414.97 $196,186.23
EMERSON ELEC CO US EMR 39.29 $3,483.00
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 23,530.05 $24,606.24
EQUINIX INC US EQIX 338.07 $232,281.40
EQUITY LIFESTYLE PROPERTIES US ELS 142.82 $10,811.26
ESSEX PROPERTY TRUST INC US ESS 24.25 $6,882.28
EXPEDIA INC US EXPE 763.09 $98,690.41
EXPEDIA GROUP INC 3.25000 02/15/2030 US 10,230.46 $9,046.20
EXTRA SPACE STORAGE INC US EXR 35.45 $6,316.93
FMC CORP US FMC 1,536.46 $188,339.42
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 16,880.26 $17,192.50
META PLATFORMS INC US FB 1,511.29 $292,647.04
FEDEX CORPORATION US FDX 391.98 $88,030.86
FIFTH THIRD BANCORP US FITB 56.27 $2,218.63
GENERAL DYNAMICS CORP US GD 16.98 $3,819.55
GENERAL MLS INC US GIS 42.25 $2,951.29
GENUINE PARTS CO US GPC 13.3 $1,818.45
GETTY REALTY CORP US GTY 126.5 $3,534.40
GILEAD SCIENCES INC US GILD 75.3 $4,882.96
GRAPHIC PACKAGING HOLDING CO US GPK 6,908.93 $153,792.89
GREENIDGE GEN HLD INC US 173.92 $3,464.44
GRUPO AEROPORTUARIO CEN-ADR MX OMAB 855.32 $49,403.13
GRUPO AEROPORTUARIO PAC-ADR MX PAC 361.9 $54,422.89
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 245.94 $53,440.35
AIRBUS SE FR AIR FP 81.18 $9,513.80
ADIDAS AG DE ADS GR 416.74 $82,792.29
HCA INC 4.12500 06/15/2029 US 14,322.64 $13,942.32
L'OREAL FR OR FP 10.74 $3,794.19
HEALTHCARE REALTY TRUST INC US HR 161.95 $4,707.83
HEALTHCARE TRUST OF AMERICA US HTA 111.05 $3,337.10
HEINEKEN NV-SPN ADR NL HEINY 2,462.16 $124,191.56
HESKA CORP US HSKA 791.63 $78,997.04
HOME DEPOT INC US HD 37.03 $11,212.12
HONEYWELL INTERNATIONAL INC US HON 35.14 $6,804.12
HUMANA INC US HUM 196.32 $89,175.56
IDEXX LABORATORIES INC US IDXX 389.47 $152,525.62
KERRY GROUP PLC-A IE KYGA ID 63.22 $6,543.09
ILLINOIS TOOL WKS INC US ITW 20.05 $4,172.16
INDEPENDENCE REALTY TRUST IN US IRT 167.63 $3,940.89
INSPERITY INC US NSP 1,252.72 $125,359.64
INTEL CORP US INTC 185.84 $8,254.85
INTERCONTINENTALEXCHANGE INC US ICE 1,378.55 $141,150.16
INTERNATIONAL FLVRS & FRAGRANCES US IFF 19.95 $2,636.71
INTUITIVE SURGICAL INC US ISRG 239.03 $54,413.85
INVITATION HOMES INC US INVH 268.09 $10,112.32
JP MORGAN CHASE & CO US JPM 1,029.64 $136,149.88
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 26,087.67 $26,432.88
JOHNSON & JOHNSON US JNJ 1,902.87 $341,621.37
KEYCORP US KEY 62.1 $1,239.49
KROGER CO US KR 49.41 $2,617.41
L3HARRIS TECHNOLOGIES INC US LHX 512.34 $123,423.02
BEIERSDORF AG DE BEI GR 163.53 $16,973.40
LENNAR CORP US LEN 18.93 $1,518.84
LIFE STORAGE INC US LSI 62.25 $7,268.58
LOCKHEED MARTIN CORP US LMT 12.99 $5,718.21
LULULEMON - ADR CA LULU 842.99 $246,734.66
MAGALLANES INC 4.05400 03/15/2029 US 24,553.1 $23,537.58
ATOS SE FR ATO FP 490.96 $12,924.26
MARATHON PETROLEUM CORP US MPC 27.37 $2,785.63
MARRIOTT VACATIONS WORLD US VAC 26.45 $3,906.56
MASTERCARD INC-CLASS A US MA 1,106.37 $395,937.65
MCDONALDS CORP US MCD 23.07 $5,818.40
ACCOR SA FR AC FP 220.77 $7,264.49
MERCADOLIBRE INC AR MELI 10.79 $8,482.11
MERCK & CO INC US MRK 99.24 $9,132.64
MICROSOFT CORP US MSFT 1,785.21 $485,346.36
MICROCHIP TECHNOLOGY INC US MCHP 31.82 $2,311.48
MID-AMERICA APARTMENT COMM US MAA 50.18 $9,082.65
MONDELEZ INTERNATIONAL INC US MDLZ 5,097.27 $323,982.76
MOODY'S CORPORATION US MCO 751.89 $226,746.71
MOTOROLA SOLUTIONS INC US MSI 12.48 $2,742.61
NAVIENT CORP 6.75000 06/25/2025 US 16,112.97 $16,263.38
NETAPP INC US NTAP 22.4 $1,612.02
KEYENCE CORP JP 6861 JP 30.69 $12,202.17
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 4,859.47 $4,717.35
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 10,741.98 $9,764.25
NEWMONT GOLDCORP CORP US NEM 857.47 $58,179.05
NEXPOINT RESIDENTIAL US NXRT 47.76 $3,509.39
NORFOLK SOUTHN CORP US NSC 482.93 $115,738.70
NIKON CORP JP 7731 JP 1,289.04 $15,994.77
NORTHROP GRUMMAN CORP US NOC 264.82 $123,925.66
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 7,417.08 $0.74
NOVARTIS AG- REG CH NVS 1,810.64 $164,659.38
NUCOR CORP US NUE 18.52 $2,452.78
NVIDIA CORP US NVDA 307.17 $57,354.69
OKTA INC US OKTA 846.88 $70,333.16
OMNICOM GROUP US OMC 20.92 $1,560.94
SONY CORP FIRST SECTION JP 6758 JP 127.88 $11,993.86
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 10,230.46 $9,526.58
PPG INDUSTRIES INC US PPG 13.1 $1,656.38
PACKAGING CORP OF AMERICA US PKG 9.62 $1,512.50
PARKER HANNIFIN CORP US PH 7.31 $1,990.86
DEUTSCHE BOERSE AG DE DB1 GR 974.45 $163,769.33
PAYPAL HOLDINGS INC US PYPL 4,011.72 $341,838.70
NESTLE SA-REGISTERED CH NESN SW 2,116.48 $258,881.61
PFIZER INC US PFE 147.37 $7,816.49
PIONEER NATURAL RESOURCES CO US PXD 11.36 $3,156.23
POPULAR INC 6.12500 09/14/2023 PR 8,184.37 $8,277.00
PROCTER & GAMBLE CO US PG 81.74 $12,087.91
PROLOGIS US PLD 247.32 $31,528.52
PUBLIC STORAGE INC US PSA 44.91 $14,849.61
QUALCOMM INC US QCOM 49.77 $7,128.23
QUALCOMM INC 4.25000 05/20/2032 US 20,460.92 $21,245.96
QUEST DIAGNOSTICS INC US DGX 12.17 $1,716.81
RADIUS GLOBAL INFRASTRUCTURE US RADI 825.75 $12,303.70
RAILWORKS HOLDINGS LP/R 8.25000 11/15/2028 US 9,463.17 $9,157.50
REGIONS FINANCIAL CORP. US RF 89.21 $1,970.64
REPUBLIC SERVICES INC US RSG 21.64 $2,895.95
RESTAURANT BRANDS INTERN CA QSR 140.87 $7,397.26
REXFORD INDUSTRIAL REALITY IN US REXR 152.74 $9,755.55
GETINGE AB-B SHS SE GETIB SS 418.02 $12,131.34
ROSS STORES INC US ROST 17.44 $1,483.00
HEINEKEN NV NL HEIA NA 110.28 $11,089.43
RYANAIR HOLDINGS - ADR IE RYAAY 1,675.95 $146,143.15
S&P GLOBAL INC US SPGI 416.18 $145,444.84
SBA COMMUNICATIONS CORP US SBAC 834.45 $280,883.30
NAVIENT CORP 5.50000 01/25/2023 US 4,603.71 $4,623.06
SALESFORCE INC US CRM 1,223.77 $196,096.48
SEA LTD - ADR SG SE 2,334.85 $192,998.39
SEAGEN INC US SGEN 1,533.49 $208,064.53
SERVICENOW INC US NOW 655.41 $306,386.51
SHOPIFY INC CA SHOP 12.48 $4,681.93
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 32,225.94 $27,831.46
SKYWORKS SOLUTIONS INC US SWKS 11 $1,197.32
JM SMUCKER CO/THE-NEW COM WI US SJM 11.1 $1,391.61
SNOWFLAKE INC-CLASS A US SNOW 587.02 $74,933.57
SONY CORP SPONSORED ADR JP SONY 2,240.06 $210,722.54
SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 18,926.35 $19,733.41
STANLEY BLACK & DECKER INC US SWK 10.44 $1,238.54
STEEL DYNAMICS INC US STLD 18.36 $1,567.89
SUN COMMUNITIES US SUI 74.32 $12,198.84
SYNCHRONOSS TECH US 352.44 $7,817.10
SYNERGY ONE LENDING 5.50000 10/14/2026 US 8,951.65 $7,984.92
TJX COMPANIES INC US TJX 48.34 $3,072.90
TACORA RESOURCES INC 8.25000 05/15/2026 CA 4,603.71 $4,392.42
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 1,610.99 $153,527.36
TARGET CORP US TGT 18.93 $3,063.80
TENCENT HOLDINGS 3.97500 04/11/2029 KY 41,433.35 $39,922.69
TERRENO REALTY CORP US TRNO 85.22 $5,173.69
TEXAS INSTRUMENTS INC US TXN 31.56 $5,578.72
THERMO FISHER SCIENTIFIC INC US TMO 305.74 $173,527.28
3M CO US MMM 33.5 $5,001.92
TRACTOR SUPPLY COMPANY US TSCO 7.01 $1,312.99
TRAVELLERS COS INC US TRV 17.19 $3,077.19
TYSON FOODS INC -CL A US TSN 27.62 $2,475.23
UDR INC US UDR 184.05 $8,797.40
U.S. BANCORP US USB 86.55 $4,593.19
UBISOFT ENTERTAIN-UNSPON ADR FR UBSFY 10,080.63 $106,451.48
UNILEVER PLC - ADR GB UL 4,632.81 $223,903.78
UNION PAC CORP US UNP 30.08 $6,610.44
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 13,683.66 $12,316.92
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 1,218.22 $1,141.18
UNITED PARCEL SERVICE US UPS 500.22 $91,164.77
US TREASURY N/B 3.00000 05/15/2047 US 88,493.46 $84,359.15
US TREASURY N/B 2.00000 02/15/2050 US 111,511.99 $87,972.50
US TREASURY N/B 2.87500 05/15/2028 US 1,278,551.44 $1,278,151.89
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 135,553.56 $135,061.12
US TREASURY N/B 1.62500 05/15/2031 US 78,518.76 $71,010.41
UNITEDHEALTH GROUP INC US UNH 195.15 $96,944.62
UNIVERSAL DISPLAY CORP US OLED 1,158.09 $146,278.07
VF CORP US VFC 26.65 $1,344.78
VENTAS INC US VTR 89.52 $5,079.17
VERTEX PHARMACEUTICALS INC US VRTX 709.58 $190,629.89
PARAMOUNT GLOBAL CLASS B US PARA 43.74 $1,501.43
VISA INC - CLASS A SHARES US V 1,400.04 $297,046.09
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 4,603.71 $4,518.96
VISTRA OPERATIONS 4.87500 05/13/2024 US 17,391.78 $17,457.84
WAL MART STORES US WMT 89.41 $11,501.35
WALGREENS BOOTS ALLIANCE INC US WBA 47.78 $2,094.03
WARRIOR MET COAL INC 7.87500 12/01/2028 US 4,347.94 $4,410.12
WASTE MANAGEMENT INC US WM 23.53 $3,729.75
WELLTOWER INC. US WELL 103.43 $9,214.57
ZOETIS INC US ZTS 334.13 $57,112.28
BNY MELLON CASH RESERVE EOD FUND US 21.5 $21.50
ADMIRAL GROUP PLC GB ADM LN 536.18 $15,011.59
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 675.21 $4,865.64
UBISOFT ENTERTAINMENT FR UBI FP 266.71 $14,021.66
DANONE FR BN FP 126.35 $7,433.90
AIR LIQUIDE FR AI FP 140.98 $24,694.42
BRENNTAG AG DE BNR GR 1,287.15 $99,594.87
KEYWORDS STUDIOS PLC IE KWS LN 110.34 $3,260.16
S4 CAPITAL PLC GB SFOR LN 2,193.36 $7,844.73
HELIOS TOWERS PLC GB HTWS LN 2,224.46 $3,187.08
AVANZA BANK HOLDING AB SE AZA SS 455.15 $10,965.67
AMERICAN TANKER INC 7.75000 07/02/2025 US 8,695.89 $8,261.09
SOFTWAREONE HOLDING AG CH SWON SW 823.5 $10,998.45
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 262.51 $4,641.24
SEASPAN CORP 6.50000 02/05/2024 MH 10,230.46 $10,204.73
PETROTAL CORP 12.00000 02/16/2024 CA 6,956.71 $7,165.41
FINECOBANK SPA IT FBK IM 1,453.95 $20,603.36
ALLFUNDS GROUP PLC GB ALLFG NA 875.11 $7,982.35
COPPER MOUNTAIN MINING C 8.00000 04/09/2026 CA 5,012.92 $5,009.78
AIRSWIFT GLOBAL AS FLT 10.38899 05/12/2025 NO 10,230.46 $10,247.47
KENT GLOBAL PLC 10.00000 06/28/2026 GB 5,115.23 $5,064.08
ROTORK PLC GB ROR LN 2,871.54 $10,106.11
AUTO TRADER GROUP PLC GB AUTO LN 2,521.25 $18,755.98
CELLNEX TELECOM SA ES CLNX SM 70.33 $3,174.13
ASSA ABLOY AB-B SE ASSAB SS 625.23 $15,412.71
CLEANAWAY WASTE MANAGEMENT AU CWY AU 5,686.55 $12,186.87
INTERMEDIATE CAPITAL GROUP GB ICP LN 662.17 $13,146.78
ADYEN NV NL ADYEN NA 10.84 $16,794.17
BANK OF N.T. BUTTERFIELD&SON BM NTB 221.23 $6,986.56
BUNGE LIMITED US BG 13.56 $1,603.87
EATON CORP PLC US ETN 26.55 $3,679.56
JOHNSON CONTROLS INTERNATIONAL US JCI 49.62 $2,704.66
MEDTRONIC INC IE MDT 3,831.97 $383,771.93
ROYALTY PHARMA PLC- CL A US RPRX 36.37 $1,496.23
STONECO LTD-A BR STNE 777.36 $7,804.71
TRANE TECHNOLOGIES IE TT 12.74 $1,758.46
ALCON INC CH ALC 1,475.39 $110,255.55
CHUBB LTD CH CB 23.27 $4,917.62
GARMIN LTD CH GRMN 17.44 $1,842.32
TE CONNECTIVITY LIMITED CH TEL 17.24 $2,230.47
LYONDELLBASELL INDU-CL A US LYB 18.93 $2,162.34
PLAYA HOTELS AND RESORTS US PLYA 365.33 $3,156.45
US DOLLAR US 897,886.31 $897,886.31
NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 MH 2,557.61 $2,584.54
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 9,514.33 $9,505.63

Based on the investments of the underlying fund(s): Manning & Napier Pro-Mix® Maximum Term CIT Fund. Investments will change over time and as the target date fund gradually becomes more conservative. Fund holdings list does not include securities with positions less than 0.005 shares.

A Word About Risk

Each Manning & Napier Retirement Target CIT Fund is invested in one or two of four proprietary risk-based funds, the Manning & Napier Pro-Mix® CIT Funds, based on the Retirement Target CIT Fund becoming increasingly conservative over time. Because the underlying funds invest in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. Investing in target date funds will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk as the underlying investments change over time. Investments in options and futures, like all derivatives, can be highly volatile and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. Also, the use of leverage increases exposure to the market and may magnify potential losses. Principal value is not guaranteed at any time, including at the target date (the approximate year when an investor plans to stop contributions and start periodic withdrawals).

About The Fund Manager

Manning & Napier Advisors, LLC (Manning & Napier) provides investment advisory services to Exeter Trust Company, Trustee of the Manning & Napier Collective Investment Trust Funds. Manning & Napier is headquartered in Rochester, NY and has more than 50 years of experience managing life cycle investment objectives. The Firm’s active management approach focuses on participating in rising markets and, as important, helping to reduce the risk of large losses in sustained bear market periods. A team of investment analysts and professionals make all investment decisions in an effort to provide investors with strong risk-adjusted returns.

Daily Price

$23.95

Daily $ Change

$0.35

Daily % Change

1.46%

as of 06/23/2022

CUSIP

302027545

Inception Date

10/11/2012

This fund is only available for use within certain qualified employee benefit plans.

Important Documents

Annual Report
Fact Sheet
Applications & Forms

Each Retirement Target CIT Fund seeks to achieve its investment objectives by investing in a combination of other Manning & Napier CIT Funds (the “underlying CIT Funds”) in order to meet its target asset allocations and investment style. The financial statements of the underlying Pro-Mix® CIT Funds should be read in conjunction with the Retirement Target CIT Funds’ financial statements.
Pro-Mix® CIT Fund Annual Report

Investment Objective

To provide capital growth and manage risk for investors planning to retire in or around the year indicated in the fund’s name.

Investment Strategy

Currently: The portfolio is currently invested in an aggressive, growth-oriented mix of securities that seeks to earn the long-term growth typically associated with the stock market. The portfolio is diversified primarily among various stock investments in both domestic and foreign markets, with only a minor portion of the portfolio invested in fixed income securities. Stock exposure can range from 70% - 95%.

Over Time: The portfolio’s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. During the target year, the portfolio’s stock exposure can range from 20% - 60%. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 13% - 47%.

May be Appropriate for Investors

  • Who plan to stop contributions and start periodic withdrawals around the year 2055
  • 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 05/31/2022

YTD

-14.38%

1 Year

-7.80%

3 Year

12.52%

5 Year

10.50%

10 Year

10.87%

Inception
(01/01/2000)

7.94%

Performance through the inception date of the Retirement Target CIT Class I units is based on the historical performance of the CIT’s oldest unit class. Performance through the inception date of the oldest unit class (08/17/2012) 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 I 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 0.73%
Net 0.69%*

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

Top Ten Investments

As of 05/31/2022

TREASURY NOTES 8.55%
AMAZON.COM INC 2.92%
MICROSOFT CORP 2.80%
MASTERCARD INC-CLASS A 2.28%
MEDTRONIC INC 2.21%
PAYPAL HOLDINGS INC 1.97%
JOHNSON & JOHNSON 1.97%
COCA COLA CO/THE 1.97%
MONDELEZ INTERNATIONAL INC 1.87%
SERVICENOW INC 1.77%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2022

Stocks
82.54%
Bonds
12.54%
Cash
4.92%

Detailed Asset Class Allocation

As of 05/31/2022

International Equities
22.61%
Small Capitalization
2.21%
Mid Capitalization
6.68%
Large Capitalization
51.04%
Long Term Fixed Income
1.38%
Intermediate Term Fixed Income
9.90%
Short Term Fixed Income
1.26%
Cash
4.92%

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

May Fund Holdings

As of 05/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 55.04 $6,464.98
ACCOR SA-SPONSORED ADR FR ACCYY 13,340.11 $89,245.32
ACTIVISION INC US ATVI 1,307.81 $101,852.29
ADIDAS AG-SPONSORED ADR DE ADDYY 755.62 $74,912.33
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 10,230.46 $8,971.68
ADYEN NV UNSPON ADR NL ADYEY 9,049.71 $140,089.50
AGREE REALTY CORP US ADC 46.55 $3,238.38
AIR LIQUIDE-ADR FR AIQUY 3,940.01 $137,545.57
AIR LEASE CORP 3.62500 04/01/2027 US 10,230.46 $9,729.12
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 2,584.68 $2,711.69
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 24,041.58 $20,931.64
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 12,788.07 $10,637.70
ALIGN TECHNOLOGY INC US ALGN 465.74 $129,308.49
ALLSTATE CORPORATION US ALL 19.95 $2,726.88
ALPHABET INC-CL A US GOOGL 94.79 $215,659.06
AMAZON.COM INC US AMZN 210.85 $506,922.82
AMAZON.COM INC 3.30000 04/13/2027 US 22,507.01 $22,486.27
DIAGEO PLC GB DGE LN 3,094.87 $143,791.46
AMERICAN HOMES 4 RENT- A US AMH 165.73 $6,125.51
AMERICAN TOWER REIT INC US AMT 24.81 $6,354.29
ANALOG DEVICES INC US ADI 30.49 $5,133.97
APPLE HOSPITALITY REIT INC US APLE 564.93 $9,439.91
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 2,557.61 $2,587.29
ARCHER-DANIELS-MIDLAND CO US ADM 36.22 $3,289.12
ARGO BLOCKCHAIN PLC GB 184.15 $3,861.59
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 10,230.46 $9,728.16
AUTOMATIC DATA PROCESSING US ADP 21.13 $4,709.81
AVALONBAY COMMUNITIES INC US AVB 39.34 $8,180.34
AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 KY 28,133.76 $24,378.89
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 6,649.8 $6,732.05
BANK OF AMERICA CORP 2.68700 04/22/2032 US 18,414.82 $16,111.33
BARRICK GOLD CORP CA GOLD 2,801.97 $57,412.34
BAXTER INTERNATIONAL INC US BAX 27.88 $2,120.12
BEST BUY INC US BBY 19.03 $1,561.49
BIOMARIN PHARMACEUTICAL INC US BMRN 2,363.54 $177,572.96
BLACKROCK INC US BLK 261.75 $175,129.19
BLACKSTONE PRIVATE CRE 2.62500 12/15/2026 US 10,741.98 $9,345.91
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 10,741.98 $9,772.45
DECHRA PHARMACEUTICALS PLC GB DPH LN 279.85 $12,827.80
BOSTON SCIENTIFIC CORP US BSX 2,205.18 $90,434.23
BRANDYWINE REALTY TRUST US BDN 280.98 $3,132.92
BRISTOL MYERS SQUIBB CO US BMY 94.79 $7,151.54
BROADRIDGE FINANCIAL SOLUTIONS US BR 10.74 $1,570.69
JONAH ENERGY PARENT LLC US 101.84 $5,464.96
CBOE GLOBAL MARKETS INC US CBOE 721.76 $81,060.73
CDW CORP/DE US CDW 465.95 $79,145.62
C.H. ROBINSON WORLDWIDE INC US CHRW 13.35 $1,448.69
COTERRA ENERGY INC US CTRA 49 $1,682.30
CAMDEN PROPERTY TRUST US CPT 37.9 $5,438.82
CAMECO CORP CA CCJ 181.08 $4,431.01
CAMPBELL SOUP CO US CPB 30.33 $1,453.27
CANADIAN NATIONAL RAILWAY CO CA CNI 2,027.68 $230,709.05
CARETRUST REIT INC US CTRE 187.63 $3,476.72
CATERPILLAR INC US CAT 26.8 $5,785.60
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 23,530.05 $26,516.14
CENTURYLINK INC 7.50000 04/01/2024 US 7,928.6 $8,202.30
CHARTER COMMUNICATIONS INC-A US CHTR 436.02 $221,032.68
CHEVRON CORP US CVX 50.74 $8,862.78
CINCINNATI FINANCIAL CORP US CINF 14.73 $1,883.62
CISCO SYSTEMS INC US CSCO 172.08 $7,752.04
CITIGROUP INC US C 105.58 $5,638.94
CITIGROUP INC 1.46200 06/09/2027 US 17,391.78 $15,666.03
CLARK CNTY NV 1.51000 11/01/2028 US 17,903.3 $15,750.25
COCA COLA CO/THE US KO 5,386.39 $341,389.21
COGNEX CORP US CGNX 1,264.74 $61,238.73
COLGATE-PALMOLIVE CO US CL 50.9 $4,011.16
COMCAST CORP-CL A US CMCSA 184.2 $8,156.35
COMMUNITY HEALTHCARE TRUST I US CHCT 97.75 $3,683.30
CONAGRA BRAND INC. US CAG 46.19 $1,519.21
CONOCOPHILLIPS US COP 45.37 $5,098.01
CONSTELLATION BRANDS INC-A US STZ 1,109.44 $272,334.72
CONTROLADORA VUELA CIA DE AV MX VLRS 360.93 $5,623.30
COPART INC US CPRT 673.93 $77,185.36
COUSINS PROPERTIES INC US CUZ 231.41 $7,995.32
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 12,788.07 $11,629.87
CUMMINS INC US CMI 11.66 $2,438.91
KIMBERLY CLARK DE MEXICO S.A.B. MX 7,979.76 $12,346.41
DEVON ENERGY CORPORATION US DVN 35.81 $2,681.91
DIAMONDBACK ENERGY INC US FANG 10.33 $1,570.79
DIGITAL REALTY TRUST INC US DLR 71.36 $9,960.79
WALT DISNEY CO/THE US DIS 735.77 $81,258.94
DOLLAR GENERAL CORP US DG 921.51 $203,045.18
DOLLAR TREE STORES INC US DLTR 1,314.15 $210,698.22
DOMINO'S PIZZA US DPZ 299.19 $108,656.74
DOUBLEVERIFY HOLDINGS INC US DV 5,657.29 $125,874.69
DOW INC US DOW 37.19 $2,528.02
DUKE RLTY INVTS INC US DRE 161.44 $8,528.70
EOG RESOURCES INC US EOG 24.35 $3,334.77
EAST WEST BANCORP INC US EWBC 1,725.21 $126,872.18
EASTMAN CHEM CO US EMN 13.3 $1,465.08
EBAY INC US EBAY 34.22 $1,665.53
ECO MATERIAL TECH INC 7.87500 01/31/2027 US 4,603.71 $4,362.52
ELECTRONIC ARTS US EA 1,414.97 $196,186.23
EMERSON ELEC CO US EMR 39.29 $3,483.00
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 23,530.05 $24,606.24
EQUINIX INC US EQIX 338.07 $232,281.40
EQUITY LIFESTYLE PROPERTIES US ELS 142.82 $10,811.26
ESSEX PROPERTY TRUST INC US ESS 24.25 $6,882.28
EXPEDIA INC US EXPE 763.09 $98,690.41
EXPEDIA GROUP INC 3.25000 02/15/2030 US 10,230.46 $9,046.20
EXTRA SPACE STORAGE INC US EXR 35.45 $6,316.93
FMC CORP US FMC 1,536.46 $188,339.42
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 16,880.26 $17,192.50
META PLATFORMS INC US FB 1,511.29 $292,647.04
FEDEX CORPORATION US FDX 391.98 $88,030.86
FIFTH THIRD BANCORP US FITB 56.27 $2,218.63
GENERAL DYNAMICS CORP US GD 16.98 $3,819.55
GENERAL MLS INC US GIS 42.25 $2,951.29
GENUINE PARTS CO US GPC 13.3 $1,818.45
GETTY REALTY CORP US GTY 126.5 $3,534.40
GILEAD SCIENCES INC US GILD 75.3 $4,882.96
GRAPHIC PACKAGING HOLDING CO US GPK 6,908.93 $153,792.89
GREENIDGE GEN HLD INC US 173.92 $3,464.44
GRUPO AEROPORTUARIO CEN-ADR MX OMAB 855.32 $49,403.13
GRUPO AEROPORTUARIO PAC-ADR MX PAC 361.9 $54,422.89
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 245.94 $53,440.35
AIRBUS SE FR AIR FP 81.18 $9,513.80
ADIDAS AG DE ADS GR 416.74 $82,792.29
HCA INC 4.12500 06/15/2029 US 14,322.64 $13,942.32
L'OREAL FR OR FP 10.74 $3,794.19
HEALTHCARE REALTY TRUST INC US HR 161.95 $4,707.83
HEALTHCARE TRUST OF AMERICA US HTA 111.05 $3,337.10
HEINEKEN NV-SPN ADR NL HEINY 2,462.16 $124,191.56
HESKA CORP US HSKA 791.63 $78,997.04
HOME DEPOT INC US HD 37.03 $11,212.12
HONEYWELL INTERNATIONAL INC US HON 35.14 $6,804.12
HUMANA INC US HUM 196.32 $89,175.56
IDEXX LABORATORIES INC US IDXX 389.47 $152,525.62
KERRY GROUP PLC-A IE KYGA ID 63.22 $6,543.09
ILLINOIS TOOL WKS INC US ITW 20.05 $4,172.16
INDEPENDENCE REALTY TRUST IN US IRT 167.63 $3,940.89
INSPERITY INC US NSP 1,252.72 $125,359.64
INTEL CORP US INTC 185.84 $8,254.85
INTERCONTINENTALEXCHANGE INC US ICE 1,378.55 $141,150.16
INTERNATIONAL FLVRS & FRAGRANCES US IFF 19.95 $2,636.71
INTUITIVE SURGICAL INC US ISRG 239.03 $54,413.85
INVITATION HOMES INC US INVH 268.09 $10,112.32
JP MORGAN CHASE & CO US JPM 1,029.64 $136,149.88
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 26,087.67 $26,432.88
JOHNSON & JOHNSON US JNJ 1,902.87 $341,621.37
KEYCORP US KEY 62.1 $1,239.49
KROGER CO US KR 49.41 $2,617.41
L3HARRIS TECHNOLOGIES INC US LHX 512.34 $123,423.02
BEIERSDORF AG DE BEI GR 163.53 $16,973.40
LENNAR CORP US LEN 18.93 $1,518.84
LIFE STORAGE INC US LSI 62.25 $7,268.58
LOCKHEED MARTIN CORP US LMT 12.99 $5,718.21
LULULEMON - ADR CA LULU 842.99 $246,734.66
MAGALLANES INC 4.05400 03/15/2029 US 24,553.1 $23,537.58
ATOS SE FR ATO FP 490.96 $12,924.26
MARATHON PETROLEUM CORP US MPC 27.37 $2,785.63
MARRIOTT VACATIONS WORLD US VAC 26.45 $3,906.56
MASTERCARD INC-CLASS A US MA 1,106.37 $395,937.65
MCDONALDS CORP US MCD 23.07 $5,818.40
ACCOR SA FR AC FP 220.77 $7,264.49
MERCADOLIBRE INC AR MELI 10.79 $8,482.11
MERCK & CO INC US MRK 99.24 $9,132.64
MICROSOFT CORP US MSFT 1,785.21 $485,346.36
MICROCHIP TECHNOLOGY INC US MCHP 31.82 $2,311.48
MID-AMERICA APARTMENT COMM US MAA 50.18 $9,082.65
MONDELEZ INTERNATIONAL INC US MDLZ 5,097.27 $323,982.76
MOODY'S CORPORATION US MCO 751.89 $226,746.71
MOTOROLA SOLUTIONS INC US MSI 12.48 $2,742.61
NAVIENT CORP 6.75000 06/25/2025 US 16,112.97 $16,263.38
NETAPP INC US NTAP 22.4 $1,612.02
KEYENCE CORP JP 6861 JP 30.69 $12,202.17
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 4,859.47 $4,717.35
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 10,741.98 $9,764.25
NEWMONT GOLDCORP CORP US NEM 857.47 $58,179.05
NEXPOINT RESIDENTIAL US NXRT 47.76 $3,509.39
NORFOLK SOUTHN CORP US NSC 482.93 $115,738.70
NIKON CORP JP 7731 JP 1,289.04 $15,994.77
NORTHROP GRUMMAN CORP US NOC 264.82 $123,925.66
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 7,417.08 $0.74
NOVARTIS AG- REG CH NVS 1,810.64 $164,659.38
NUCOR CORP US NUE 18.52 $2,452.78
NVIDIA CORP US NVDA 307.17 $57,354.69
OKTA INC US OKTA 846.88 $70,333.16
OMNICOM GROUP US OMC 20.92 $1,560.94
SONY CORP FIRST SECTION JP 6758 JP 127.88 $11,993.86
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 10,230.46 $9,526.58
PPG INDUSTRIES INC US PPG 13.1 $1,656.38
PACKAGING CORP OF AMERICA US PKG 9.62 $1,512.50
PARKER HANNIFIN CORP US PH 7.31 $1,990.86
DEUTSCHE BOERSE AG DE DB1 GR 974.45 $163,769.33
PAYPAL HOLDINGS INC US PYPL 4,011.72 $341,838.70
NESTLE SA-REGISTERED CH NESN SW 2,116.48 $258,881.61
PFIZER INC US PFE 147.37 $7,816.49
PIONEER NATURAL RESOURCES CO US PXD 11.36 $3,156.23
POPULAR INC 6.12500 09/14/2023 PR 8,184.37 $8,277.00
PROCTER & GAMBLE CO US PG 81.74 $12,087.91
PROLOGIS US PLD 247.32 $31,528.52
PUBLIC STORAGE INC US PSA 44.91 $14,849.61
QUALCOMM INC US QCOM 49.77 $7,128.23
QUALCOMM INC 4.25000 05/20/2032 US 20,460.92 $21,245.96
QUEST DIAGNOSTICS INC US DGX 12.17 $1,716.81
RADIUS GLOBAL INFRASTRUCTURE US RADI 825.75 $12,303.70
RAILWORKS HOLDINGS LP/R 8.25000 11/15/2028 US 9,463.17 $9,157.50
REGIONS FINANCIAL CORP. US RF 89.21 $1,970.64
REPUBLIC SERVICES INC US RSG 21.64 $2,895.95
RESTAURANT BRANDS INTERN CA QSR 140.87 $7,397.26
REXFORD INDUSTRIAL REALITY IN US REXR 152.74 $9,755.55
GETINGE AB-B SHS SE GETIB SS 418.02 $12,131.34
ROSS STORES INC US ROST 17.44 $1,483.00
HEINEKEN NV NL HEIA NA 110.28 $11,089.43
RYANAIR HOLDINGS - ADR IE RYAAY 1,675.95 $146,143.15
S&P GLOBAL INC US SPGI 416.18 $145,444.84
SBA COMMUNICATIONS CORP US SBAC 834.45 $280,883.30
NAVIENT CORP 5.50000 01/25/2023 US 4,603.71 $4,623.06
SALESFORCE INC US CRM 1,223.77 $196,096.48
SEA LTD - ADR SG SE 2,334.85 $192,998.39
SEAGEN INC US SGEN 1,533.49 $208,064.53
SERVICENOW INC US NOW 655.41 $306,386.51
SHOPIFY INC CA SHOP 12.48 $4,681.93
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 32,225.94 $27,831.46
SKYWORKS SOLUTIONS INC US SWKS 11 $1,197.32
JM SMUCKER CO/THE-NEW COM WI US SJM 11.1 $1,391.61
SNOWFLAKE INC-CLASS A US SNOW 587.02 $74,933.57
SONY CORP SPONSORED ADR JP SONY 2,240.06 $210,722.54
SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 18,926.35 $19,733.41
STANLEY BLACK & DECKER INC US SWK 10.44 $1,238.54
STEEL DYNAMICS INC US STLD 18.36 $1,567.89
SUN COMMUNITIES US SUI 74.32 $12,198.84
SYNCHRONOSS TECH US 352.44 $7,817.10
SYNERGY ONE LENDING 5.50000 10/14/2026 US 8,951.65 $7,984.92
TJX COMPANIES INC US TJX 48.34 $3,072.90
TACORA RESOURCES INC 8.25000 05/15/2026 CA 4,603.71 $4,392.42
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 1,610.99 $153,527.36
TARGET CORP US TGT 18.93 $3,063.80
TENCENT HOLDINGS 3.97500 04/11/2029 KY 41,433.35 $39,922.69
TERRENO REALTY CORP US TRNO 85.22 $5,173.69
TEXAS INSTRUMENTS INC US TXN 31.56 $5,578.72
THERMO FISHER SCIENTIFIC INC US TMO 305.74 $173,527.28
3M CO US MMM 33.5 $5,001.92
TRACTOR SUPPLY COMPANY US TSCO 7.01 $1,312.99
TRAVELLERS COS INC US TRV 17.19 $3,077.19
TYSON FOODS INC -CL A US TSN 27.62 $2,475.23
UDR INC US UDR 184.05 $8,797.40
U.S. BANCORP US USB 86.55 $4,593.19
UBISOFT ENTERTAIN-UNSPON ADR FR UBSFY 10,080.63 $106,451.48
UNILEVER PLC - ADR GB UL 4,632.81 $223,903.78
UNION PAC CORP US UNP 30.08 $6,610.44
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 13,683.66 $12,316.92
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 1,218.22 $1,141.18
UNITED PARCEL SERVICE US UPS 500.22 $91,164.77
US TREASURY N/B 3.00000 05/15/2047 US 88,493.46 $84,359.15
US TREASURY N/B 2.00000 02/15/2050 US 111,511.99 $87,972.50
US TREASURY N/B 2.87500 05/15/2028 US 1,278,551.44 $1,278,151.89
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 135,553.56 $135,061.12
US TREASURY N/B 1.62500 05/15/2031 US 78,518.76 $71,010.41
UNITEDHEALTH GROUP INC US UNH 195.15 $96,944.62
UNIVERSAL DISPLAY CORP US OLED 1,158.09 $146,278.07
VF CORP US VFC 26.65 $1,344.78
VENTAS INC US VTR 89.52 $5,079.17
VERTEX PHARMACEUTICALS INC US VRTX 709.58 $190,629.89
PARAMOUNT GLOBAL CLASS B US PARA 43.74 $1,501.43
VISA INC - CLASS A SHARES US V 1,400.04 $297,046.09
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 4,603.71 $4,518.96
VISTRA OPERATIONS 4.87500 05/13/2024 US 17,391.78 $17,457.84
WAL MART STORES US WMT 89.41 $11,501.35
WALGREENS BOOTS ALLIANCE INC US WBA 47.78 $2,094.03
WARRIOR MET COAL INC 7.87500 12/01/2028 US 4,347.94 $4,410.12
WASTE MANAGEMENT INC US WM 23.53 $3,729.75
WELLTOWER INC. US WELL 103.43 $9,214.57
ZOETIS INC US ZTS 334.13 $57,112.28
BNY MELLON CASH RESERVE EOD FUND US 21.5 $21.50
ADMIRAL GROUP PLC GB ADM LN 536.18 $15,011.59
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 675.21 $4,865.64
UBISOFT ENTERTAINMENT FR UBI FP 266.71 $14,021.66
DANONE FR BN FP 126.35 $7,433.90
AIR LIQUIDE FR AI FP 140.98 $24,694.42
BRENNTAG AG DE BNR GR 1,287.15 $99,594.87
KEYWORDS STUDIOS PLC IE KWS LN 110.34 $3,260.16
S4 CAPITAL PLC GB SFOR LN 2,193.36 $7,844.73
HELIOS TOWERS PLC GB HTWS LN 2,224.46 $3,187.08
AVANZA BANK HOLDING AB SE AZA SS 455.15 $10,965.67
AMERICAN TANKER INC 7.75000 07/02/2025 US 8,695.89 $8,261.09
SOFTWAREONE HOLDING AG CH SWON SW 823.5 $10,998.45
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 262.51 $4,641.24
SEASPAN CORP 6.50000 02/05/2024 MH 10,230.46 $10,204.73
PETROTAL CORP 12.00000 02/16/2024 CA 6,956.71 $7,165.41
FINECOBANK SPA IT FBK IM 1,453.95 $20,603.36
ALLFUNDS GROUP PLC GB ALLFG NA 875.11 $7,982.35
COPPER MOUNTAIN MINING C 8.00000 04/09/2026 CA 5,012.92 $5,009.78
AIRSWIFT GLOBAL AS FLT 10.38899 05/12/2025 NO 10,230.46 $10,247.47
KENT GLOBAL PLC 10.00000 06/28/2026 GB 5,115.23 $5,064.08
ROTORK PLC GB ROR LN 2,871.54 $10,106.11
AUTO TRADER GROUP PLC GB AUTO LN 2,521.25 $18,755.98
CELLNEX TELECOM SA ES CLNX SM 70.33 $3,174.13
ASSA ABLOY AB-B SE ASSAB SS 625.23 $15,412.71
CLEANAWAY WASTE MANAGEMENT AU CWY AU 5,686.55 $12,186.87
INTERMEDIATE CAPITAL GROUP GB ICP LN 662.17 $13,146.78
ADYEN NV NL ADYEN NA 10.84 $16,794.17
BANK OF N.T. BUTTERFIELD&SON BM NTB 221.23 $6,986.56
BUNGE LIMITED US BG 13.56 $1,603.87
EATON CORP PLC US ETN 26.55 $3,679.56
JOHNSON CONTROLS INTERNATIONAL US JCI 49.62 $2,704.66
MEDTRONIC INC IE MDT 3,831.97 $383,771.93
ROYALTY PHARMA PLC- CL A US RPRX 36.37 $1,496.23
STONECO LTD-A BR STNE 777.36 $7,804.71
TRANE TECHNOLOGIES IE TT 12.74 $1,758.46
ALCON INC CH ALC 1,475.39 $110,255.55
CHUBB LTD CH CB 23.27 $4,917.62
GARMIN LTD CH GRMN 17.44 $1,842.32
TE CONNECTIVITY LIMITED CH TEL 17.24 $2,230.47
LYONDELLBASELL INDU-CL A US LYB 18.93 $2,162.34
PLAYA HOTELS AND RESORTS US PLYA 365.33 $3,156.45
US DOLLAR US 897,886.31 $897,886.31
NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 MH 2,557.61 $2,584.54
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 9,514.33 $9,505.63

Based on the investments of the underlying fund(s): Manning & Napier Pro-Mix® Maximum Term CIT Fund. Investments will change over time and as the target date fund gradually becomes more conservative. Fund holdings list does not include securities with positions less than 0.005 shares.

A Word About Risk

Each Manning & Napier Retirement Target CIT Fund is invested in one or two of four proprietary risk-based funds, the Manning & Napier Pro-Mix® CIT Funds, based on the Retirement Target CIT Fund becoming increasingly conservative over time. Because the underlying funds invest in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. Investing in target date funds will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk as the underlying investments change over time. Investments in options and futures, like all derivatives, can be highly volatile and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. Also, the use of leverage increases exposure to the market and may magnify potential losses. Principal value is not guaranteed at any time, including at the target date (the approximate year when an investor plans to stop contributions and start periodic withdrawals).

About The Fund Manager

Manning & Napier Advisors, LLC (Manning & Napier) provides investment advisory services to Exeter Trust Company, Trustee of the Manning & Napier Collective Investment Trust Funds. Manning & Napier is headquartered in Rochester, NY and has more than 50 years of experience managing life cycle investment objectives. The Firm’s active management approach focuses on participating in rising markets and, as important, helping to reduce the risk of large losses in sustained bear market periods. A team of investment analysts and professionals make all investment decisions in an effort to provide investors with strong risk-adjusted returns.


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