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 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

$17.18

Daily $ Change

$0.48

Daily % Change

2.79%

as of 03/30/2020

CUSIP

302027537

Inception Date

08/17/2012

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 02/29/2020

YTD

-5.11%

1 Year

10.01%

3 Year

9.53%

5 Year

6.37%

10 Year

8.49%

Inception
(01/01/2000)

7.09%

US Stock Market Cycle (04/01/2000 - 02/29/2020)

7.23%

Performance through the inception date of the Retirement Target CIT Class S units is based on historical performance of the CIT's oldest unit class. Performance through the inception date of the oldest unit class (08/03/2012) 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 S 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 0.94%
Net 0.89%*

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

Top Ten Investments

As of 02/29/2020

TREASURY NOTES 7.01%
COCA COLA CO/THE 2.28%
FACEBOOK INC -A 2.12%
MONDELEZ INTERNATIONAL INC 2.07%
JOHNSON & JOHNSON 2.04%
BERKSHIRE HATHAWAY INC-CL B 1.92%
MASTERCARD INC-CLASS A 1.90%
NEXON CO LTD 1.86%
TREASURY BONDS 1.83%
MICRON TECHNOLOGY INC 1.82%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 02/29/2020

Stocks 83.03%
Bonds 15.76%
Cash 1.21%

Detailed Asset Class Allocation

As of 02/29/2020

International Equities 25.46%
Small Capitalization 2.85%
Mid Capitalization 3.52%
Large Capitalization 51.19%
Long Term Fixed Income 3.28%
Intermediate Term Fixed Income 7.14%
Short Term Fixed Income 5.35%
Cash 1.21%

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

February Fund Holdings

As of 02/29/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAK2 ADT SEC CORP 6.25000 10/15/2021 US 934.12 $974.03
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 31,760.09 $35,794.72
00287Y109 ABBVIE INC US ABBV 87.62 $7,509.95
004239109 ACADIA REALTY TRUST US AKR 78.78 $1,799.28
00489LAA1 ACRISURE LLC / FIN INC 7.00000 11/15/2025 US 934.12 $912.82
00507V109 ACTIVISION INC US ATVI 2,791.77 $162,285.82
00751Y106 ADVANCE AUTO PARTS INC US AAP 985.81 $131,092.78
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 19,305.15 $21,288.48
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 1,245.49 $1,310.88
008492100 AGREE REALTY CORP US ADC 21.17 $1,520.67
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 19,927.9 $21,136.65
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 8.1 $1,229.58
01609W102 ALIBABA GROUP - ADR CN BABA 471.11 $97,990.46
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 24,909.87 $26,831.60
020002101 ALLSTATE CORPORATION US ALL 20.49 $2,156.40
02079K107 ALPHABET INC-CL C US GOOG 125.48 $168,063.80
02079K305 ALPHABET INC-CL A US GOOGL 125.79 $168,470.76
02209S103 ALTRIA GROUP INC US MO 2,675.63 $108,015.25
023135106 AMAZON.COM INC US AMZN 114.59 $215,850.28
02319V103 AMBEV SA-ADR BR ABEV 37,853.67 $121,510.27
0237400 DIAGEO PLC GB DGE LN 3,543.68 $126,436.95
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 78.15 $3,395.04
0263494 BAE SYSTEMS PLC GB BA/ LN 2,212.31 $17,499.54
02665T306 AMERICAN HOMES 4 RENT- A US AMH 173.75 $4,498.29
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 2,802.36 $2,914.72
03027X100 AMERICAN TOWER REIT INC US AMT 913.88 $207,268.20
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 33,005.58 $36,359.65
03064D108 AMERICOLD REALTY TRUST US COLD 104.93 $3,218.29
031162100 AMGEN INC US AMGN 38.3 $7,649.45
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 934.12 $635.20
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 1,245.49 $853.16
03748R754 APARTMENT INVT & MGMT CO -A US AIV 92.48 $4,424.14
038222105 APPLIED MATERIALS INC US AMAT 54.3 $3,156.12
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 39.42 $1,484.16
043436AT1 ASBURY AUTOMOTIVE GROUP 4.75000 03/01/2030 US 934.12 $950.47
045086AF2 ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 US 1,245.49 $1,285.97
053332102 AUTOZONE INC US AZO 122.06 $126,026.50
053484101 AVALONBAY COMMUNITIES INC US AVB 34.56 $6,932.88
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 22,418.89 $22,568.94
055622104 BP PLC-SPONS ADR GB BP 1,030.96 $32,258.66
05722G100 BAKER HUGHES CO US BKR 66.95 $1,077.15
060505104 BANK OF AMERICA CORP US BAC 282.79 $8,059.50
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 49,819.75 $54,350.44
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 1,664.29 $343,409.78
086516101 BEST BUY INC US BBY 27.53 $2,082.30
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 1,491.48 $134,784.93
09247X101 BLACKROCK INC US BLK 513.45 $237,734.69
0946580 WEIR GROUP PLC/THE GB WEIR LN 716.47 $12,101.61
097023105 BOEING CO US BA 27.28 $7,503.99
09857L108 BOOKING HOLDINGS INC US BKNG 64.14 $108,764.59
101121101 BOSTON PROPERTIES INC US BXP 38.49 $4,962.35
101137107 BOSTON SCIENTIFIC CORP US BSX 2,906.05 $108,657.14
105368203 BRANDYWINE REALTY TRUST US BDN 274.32 $3,725.27
110122108 BRISTOL MYERS SQUIBB CO US BMY 99.27 $5,862.64
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 174.06 $6,927.50
11135F101 BROADCOM INC US AVGO 19.68 $5,364.83
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 1,245.49 $660.11
1248EPCE1 CCO HLDGS LLC/CAP CORP 4.50000 08/15/2030 US 934.12 $944.63
12503M108 CBOE GLOBAL MARKETS INC US CBOE 1,390.91 $158,563.17
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 18.25 $1,257.18
12572Q105 CME GROUP INC US CME 831.06 $165,230.48
12662PAD0 CVR ENERGY INC 5.75000 02/15/2028 US 934.12 $882.74
126650100 CVS HEALTH CORP US CVS 79.84 $4,724.70
131477AT8 CALUMET SPECIALTY PROD 11.00000 04/15/2025 US 1,556.87 $1,642.49
133131102 CAMDEN PROPERTY TRUST US CPT 52 $5,510.89
13321L108 CAMECO CORP CA CCJ 1,242.82 $10,787.64
14180LAA4 CARGO AIRCRAFT MANAGEMENT 4.75000 02/01/2028 US 934.12 $925.95
149123101 CATERPILLAR INC US CAT 32.82 $4,077.40
156700AW6 CENTURYLINK INC 5.62500 04/01/2020 US 934.12 $935.87
166764100 CHEVRON CORP US CVX 370.35 $34,568.24
17275R102 CISCO SYSTEMS INC US CSCO 188.82 $7,539.46
172967424 CITIGROUP INC US C 80.09 $5,082.21
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 9,341.2 $16,171.67
191216100 COCA COLA CO/THE US KO 7,620.55 $407,623.37
194162103 COLGATE-PALMOLIVE CO US CL 60.47 $4,085.87
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 26,155.37 $28,265.25
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 62.9 $2,995.80
20451NAG6 COMPASS MINERALS INTERNA 6.75000 12/01/2027 US 1,556.87 $1,650.28
205887102 CONAGRA BRAND INC. US CAG 38.55 $1,028.85
20825C104 CONOCOPHILLIPS US COP 576.66 $27,922.05
222795502 COUSINS PROPERTIES INC US CUZ 123.55 $4,409.61
225310AN1 CREDIT ACCEPTANC 5.12500 12/31/2024 US 934.12 $962.14
22822V101 CROWN CASTLE INTL CORP US CCI 20.55 $2,944.70
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 36,119.32 $38,067.36
228368106 CROWN HOLDINGS INC US CCK 1,767.04 $124,576.61
231021106 CUMMINS INC US CMI 15.57 $2,355.38
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 505.36 $3,734.89
25277LAC0 DIAMOND SPORTS GR/DIAMON 6.62500 08/15/2027 US 1,556.87 $1,255.85
253868103 DIGITAL REALTY TRUST INC US DLR 6.54 $785.38
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 30,514.59 $35,974.31
256677105 DOLLAR GENERAL CORP US DG 1,527.91 $229,644.77
256746108 DOLLAR TREE STORES INC US DLTR 2,694.63 $223,734.76
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 1,868.24 $1,919.06
25960P109 DOUGLAS EMMETT INC US DEI 81.58 $3,114.72
260557103 DOW INC US DOW 45.96 $1,857.19
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 12,454.94 $13,003.58
2715777 QUEBECOR INC -CL B CA QBR/B CN 5,447.79 $127,280.81
277432100 EASTMAN CHEM CO US EMN 18.43 $1,133.83
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 7,111.46 $123,076.29
285512109 ELECTRONIC ARTS US EA 2,680.93 $271,765.38
2866857 LUNDIN MINING CORP CA LUN CN 8,384.35 $42,788.46
291011104 EMERSON ELEC CO US EMR 49.7 $3,185.96
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 22,418.89 $27,017.49
29413XAD9 ENVIVA PARTNERS LP/FIN C 6.50000 01/15/2026 US 1,556.87 $1,619.17
29444U700 EQUINIX INC US EQIX 321.34 $184,062.04
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 30.2 $2,063.79
29476L107 EQUITY RESIDENTIAL US EQR 46.08 $3,460.85
29670E107 ESSENTIAL PROPERTIES REALTY US EPRT 104.5 $2,394.02
297178105 ESSEX PROPERTY TRUST INC US ESS 9.78 $2,770.45
30225T102 EXTRA SPACE STORAGE INC US EXR 11.21 $1,124.98
30303M102 FACEBOOK INC -A US FB 1,970.99 $379,357.16
30744W107 FARFETCH LTD - CLASS A GB FTCH 351.23 $3,923.23
311900104 FASTENAL CO US FAST 59.47 $2,035.14
313747206 FEDERAL RLTY INVT TR SH BEN INT US FRT 7.78 $905.63
315786AC7 FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 US 1,245.49 $1,382.50
316773100 FIFTH THIRD BANCORP US FITB 68.81 $1,679.05
32054K103 FIRST INDUSTRIAL REALTY TR US FR 42.04 $1,618.36
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 1,556.87 $1,563.69
339750101 FLOOR & DECOR HOLDINGS INC -A US FND 1,724.07 $88,014.01
346232AE1 FORESTAR GROUP INC 5.00000 03/01/2028 US 1,556.87 $1,529.62
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 934.12 $978.49
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 1,556.87 $1,618.67
35671D857 FREEPORT-MCMORAN INC US FCX 6,153.98 $61,293.68
364760108 GAP INC US GPS 46.33 $663.94
369550108 GENERAL DYNAMICS CORP US GD 15.2 $2,426.49
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 15,568.67 $15,241.26
370334104 GENERAL MLS INC US GIS 54.49 $2,670.03
37185LAL6 GENESIS ENERGY LP/FIN 7.75000 02/01/2028 US 1,556.87 $1,338.91
372460105 GENUINE PARTS CO US GPC 18.81 $1,640.72
374297109 GETTY REALTY CORP US GTY 45.15 $1,279.53
375558103 GILEAD SCIENCES INC US GILD 87.31 $6,055.76
37960JAA6 GLOBAL AIR LEASE CO LTD 6.50000 09/15/2024 KY 2,490.99 $2,453.62
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 11,785.8 $159,343.95
38869PAK0 GRAPHIC PACKAGING INTERN 4.75000 04/15/2021 US 1,245.49 $1,264.14
398433AN2 GRIFFON CORPORATION 5.75000 03/01/2028 US 934.12 $934.47
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 63.83 $6,918.06
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 40.79 $6,811.92
404119BX6 HCA INC 4.12500 06/15/2029 US 24,909.87 $27,333.48
404139AD9 HC2 HOLDINGS INC 11.50000 12/01/2021 US 622.75 $628.97
406216101 HALLIBURTON CO US HAL 6,718.13 $113,939.49
416515104 HARTFORD FINL SVCS US HIG 27.53 $1,374.89
421946104 HEALTHCARE REALTY TRUST INC US HR 90.92 $3,118.59
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 56.05 $1,745.31
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 147.28 $4,659.93
427866108 HERSHEY CO/THE US HSY 19.49 $2,806.65
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 13.39 $1,301.42
437076102 HOME DEPOT INC US HD 50.82 $11,069.79
438516106 HONEYWELL INTERNATIONAL INC US HON 39.61 $6,423.02
44107P104 HOST MARRIOTT CORP US HST 111.16 $1,609.60
450913AE8 IAMGOLD CORP 7.00000 04/15/2025 CA 1,556.87 $1,595.32
452308109 ILLINOIS TOOL WKS INC US ITW 22.11 $3,709.20
45337C102 INCYTE CORP US INCY 683.15 $51,516.59
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 1,556.87 $1,593.84
45781V101 INNOVATIVE INDUSTRIAL PROPER US IIPR 24.79 $2,278.76
458140100 INTEL CORP US INTC 212.23 $11,783.13
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 1,826.52 $162,961.80
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 51.87 $6,751.51
460146103 INTERNATIONAL PAPER CO US IP 32.94 $1,217.58
46120E602 INTUITIVE SURGICAL INC US ISRG 108.05 $57,692.55
46187W107 INVITATION HOMES INC US INVH 245.18 $7,034.08
46625H100 JP MORGAN CHASE & CO US JPM 110.91 $12,877.90
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 24,909.87 $27,006.13
4741844 MERCK KGAA DE MRK GR 1,147.72 $139,659.49
476405105 JERNIGAN CAPITAL INC US JCAP 200.21 $3,587.82
478160104 JOHNSON & JOHNSON US JNJ 2,717.17 $365,404.88
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 2,179.61 $523.11
482480100 KLA-TENCOR CORPORATION US KLAC 16.19 $2,488.78
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 1,556.87 $1,634.71
487836108 KELLOGG CO US K 29.52 $1,784.97
493267108 KEYCORP US KEY 94.22 $1,540.52
49427F108 KILROY REALTY CORP US KRC 13.33 $968.72
494368103 KIMBERLY CLARK CORP US KMB 27.46 $3,602.89
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 26,778.11 $35,890.28
500255104 KOHLS CORP US KSS 19.74 $772.86
501044101 KROGER CO US KR 55.86 $1,571.35
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 2,179.61 $2,274.97
5107401 BEIERSDORF AG DE BEI GR 1,557.49 $164,467.69
512807108 LAM RESEARCH CORP US LRCX 9.09 $2,667.90
516806AG1 LAREDO PETROLEUM INC 10.12500 01/15/2028 US 1,556.87 $1,116.86
53223X107 LIFE STORAGE INC US LSI 9.96 $1,075.21
539830109 LOCKHEED MARTIN CORP US LMT 15.63 $5,781.42
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 934.12 $609.51
550021109 LULULEMON - ADR CA LULU 1,281.74 $278,662.55
56585A102 MARATHON PETROLEUM CORP US MPC 58.97 $2,796.55
57636Q104 MASTERCARD INC-CLASS A US MA 1,170.45 $339,723.88
57772K101 MAXIM INTEGRATED PRODUCTS US MXIM 26.22 $1,458.23
58933Y105 MERCK & CO INC US MRK 825.39 $63,191.75
594918104 MICROSOFT CORP US MSFT 1,843.95 $298,738.88
595112103 MICRON TECHNOLOGY INC US MU 6,187.92 $325,237.28
59522J103 MID-AMERICA APARTMENT COMM US MAA 15.88 $2,052.65
60871R209 MOLSON COORS BREWING CO -B US TAP 20.3 $1,007.16
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 7,024.15 $370,875.03
615369105 MOODY'S CORPORATION US MCO 727.06 $174,515.47
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 934.12 $546.18
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 2,179.61 $2,124.47
6356934 FANUC LTD JP 6954 JP 37.36 $6,135.82
637417106 NATIONAL RETAIL PROPERTIES US NNN 35.5 $1,805.00
63938CAA6 NAVIENT CORP 5.00000 10/26/2020 US 1,556.87 $1,571.97
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 934.12 $985.50
64110D104 NETAPP INC US NTAP 20.18 $942.67
6490995 KEYENCE CORP JP 6861 JP 31.14 $9,942.33
654106103 NIKE INC CLASS B US NKE 2,783.37 $248,777.34
6642321 NIKON CORP JP 7731 JP 379.88 $3,880.34
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 2,179.61 $1,656.51
66987V109 NOVARTIS AG- REG CH NVS 1,933.94 $162,373.62
670346105 NUCOR CORP US NUE 36.06 $1,490.96
67059TAD7 NUSTAR LOGISTICS LP 6.75000 02/01/2021 US 934.12 $952.90
67066G104 NVIDIA CORP US NVDA 485.12 $131,016.30
67401PAB4 OAKTREE SPECIALTY LEND 3.50000 02/25/2025 US 1,556.87 $1,558.93
6742340 SHANDONG WEIGAO CN 1066 HK 10,213.05 $13,326.78
674599105 OCCIDENTAL PETROLEUM CORP US OXY 39.54 $1,294.68
675232102 OCEANEERING INTL INC US OII 5,687.24 $59,943.46
675232AB8 OCEANEERING INTL INC 6.00000 02/01/2028 US 1,556.87 $1,451.78
681936100 OMEGA HEALTHCARE INVS INC US OHI 51.69 $2,046.84
6821506 SONY CORP FIRST SECTION JP 6758 JP 217.96 $13,436.86
7021963 DEUTSCHE BOERSE AG DE DB1 GR 1,182.91 $186,134.55
70450Y103 PAYPAL HOLDINGS INC US PYPL 1,154.26 $124,648.67
7123870 NESTLE SA-REGISTERED CH NESN SW 1,785.42 $183,729.61
713448108 PEPSICO INC US PEP 1,838.66 $242,758.28
717081103 PFIZER INC US PFE 271.77 $9,082.44
718172109 PHILIP MORRIS INTERNATIONAL US PM 2,206.7 $180,662.81
718546104 PHILLIPS 66 US PSX 28.15 $2,107.17
719245AD4 PHOTO HOLDINGS MERGER SU 8.50000 10/01/2026 US 1,556.87 $1,475.13
71943U104 PHYSICIANS REALTY TRUST US DOC 186.2 $3,511.76
729640102 PLYMOUTH INDUSTRIAL REIT INC US PLYM 67.26 $1,262.41
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 29,269.1 $32,051.55
74166MAB2 PRIME SECSRVC BRW/FINANC 5.25000 04/15/2024 US 934.12 $966.81
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 934.12 $961.86
74340E103 PROGYNY INC US PGNY 2,394.46 $65,919.53
74340W103 PROLOGIS US PLD 132.15 $11,137.34
74460D109 PUBLIC STORAGE INC US PSA 23.35 $4,883.58
74834L100 QUEST DIAGNOSTICS INC US DGX 13.76 $1,459.67
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 1,556.87 $1,650.28
756109104 REALTY INCOME CORP US O 23.66 $1,713.06
758849103 REGENCY CENTERS CORP US REG 32.38 $1,860.07
7591EP100 REGIONS FINANCIAL CORP. US RF 85 $1,149.27
76131D103 RESTAURANT BRANDS INTERN CA QSR 287.71 $16,830.98
7698356 GETINGE AB-B SHS SE GETIB SS 514.08 $8,621.18
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 1,556.87 $1,561.65
773903109 ROCKWELL AUTOMATION INC US ROK 9.03 $1,656.97
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 720.52 $32,084.67
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 1,586.45 $113,716.56
78409V104 S&P GLOBAL INC US SPGI 620.88 $165,097.82
78410G104 SBA COMMUNICATIONS CORP US SBAC 874.34 $231,777.87
78442PGC4 SLM CORP 5.12500 04/05/2022 US 2,179.61 $2,223.21
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 38,610.3 $44,817.65
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 33,005.58 $36,687.37
806857108 SCHLUMBERGER LTD NL SLB 3,202.85 $86,765.18
81141R100 SEA LTD - ADR SG SE 1,850.18 $83,369.15
812578102 SEATTLE GENETICS INC US SGEN 576.66 $65,658.91
81762P102 SERVICENOW INC US NOW 954.98 $311,410.16
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 1,868.24 $1,550.64
828806109 SIMON PROPERTY GROUP INC US SPG 39.86 $4,905.45
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 12.89 $1,327.63
835699307 SONY CORP SPONSORED ADR JP SNE 3,823.04 $237,793.26
84265V105 SOUTHERN COPPER CORPORATION US SCCO 2,533.65 $85,257.17
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 23,041.63 $23,076.19
852061AR1 SPRINT COMMUNICATIONS 7.00000 08/15/2020 US 2,490.99 $2,540.81
85207UAE5 SPRINT CORP 7.25000 09/15/2021 US 934.12 $991.43
85207UAH8 SPRINT CORP 7.12500 06/15/2024 US 1,556.87 $1,766.39
85254J102 STAG INDUSTRIAL INC US STAG 94.66 $2,648.52
85571BAP0 STARWOOD PROPERTY TRUST 3.62500 02/01/2021 US 1,556.87 $1,543.24
857949BL0 SS INT BEARING FD .022% 01/02/15 US 218,703.18 $218,703.18
862121100 STORE CAPITAL CORP US STOR 86.56 $2,844.42
866674104 SUN COMMUNITIES US SUI 34.25 $5,236.30
86723CAF5 SUNCOKE ENRGY PART LP/FI 7.50000 06/15/2025 US 934.12 $840.71
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 91.86 $1,005.81
871829107 SYSCO CORP US SYY 42.72 $2,847.32
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 1,245.49 $871.85
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 24,287.13 $27,542.33
882508104 TEXAS INSTRUMENTS INC US TXN 53.99 $6,162.66
883556102 THERMO FISHER SCIENTIFIC INC US TMO 388.91 $113,093.69
88579Y101 3M CO US MMM 35.43 $5,288.21
89151E109 TOTAL S A SPONSORED ADR FR TOT 764.11 $32,963.72
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 622.75 $628.97
89417E109 TRAVELLERS COS INC US TRV 15.63 $1,872.74
89832Q109 TRUIST FINANCIAL CORP US TFC 90.24 $4,163.49
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 2,490.99 $2,366.44
902494103 TYSON FOODS INC -CL A US TSN 23.6 $1,600.93
902653104 UDR INC US UDR 58.35 $2,624.64
902973304 U.S. BANCORP US USB 103.81 $4,821.02
903002103 UMH PROPERTIES INC US UMH 72.55 $1,052.70
904767704 UNILEVER PLC - ADR GB UL 4,021.01 $216,853.28
907818108 UNION PAC CORP US UNP 39.54 $6,319.59
911312106 UNITED PARCEL SERVICE US UPS 59.04 $5,342.20
912796TQ2 TREASURY BILL 0.00000 04/09/2020 US 97,771.25 $97,627.26
912810FS2 TSY INFL IX N/B 2.00000 01/15/2026 US 87,482.36 $99,696.70
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 58,711.34 $67,474.21
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 141,363.53 $164,914.91
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 125,794.86 $162,211.49
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 195,713.95 $196,139.75
912828K74 US TREASURY N/B 2.00000 08/15/2025 US 611,661.93 $645,183.87
912828YN4 US TREASURY FRN 1.45838 10/31/2021 US 608,735.02 $611,020.25
913017109 UNITED TECHNOLOGIES CORP US UTX 46.39 $6,058.68
91324P102 UNITEDHEALTH GROUP INC US UNH 456.78 $116,461.85
91336L107 UNIVAR SOLUTIONS INC US UNVR 5,894.92 $100,154.72
91704F104 URBAN EDGE PROPERTIES US UE 104.31 $1,689.82
918204108 VF CORP US VFC 30.83 $2,219.47
91913Y100 VALERO ENERGY US VLO 35.56 $2,355.77
92276F100 VENTAS INC US VTR 48.95 $2,631.93
92339V100 VEREIT INC US VER 201.46 $1,744.63
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 41,724.04 $55,737.84
92511U102 VERRA MOBILITY CORP US VRRM 17,672 $267,642.41
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 292.38 $65,501.81
92556H206 VIACOMCBS INC US VIAC 24.54 $603.84
92826C839 VISA INC - CLASS A SHARES US V 1,460.03 $265,375.04
92840JAA7 VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 MUL 1,556.87 $1,455.67
929042109 VORNADO REALTY TRUST US VNO 11.83 $633.97
931142103 WAL MART STORES US WMT 123.93 $13,344.42
931427108 WALGREENS BOOTS ALLIANCE INC US WBA 61.9 $2,832.59
94106L109 WASTE MANAGEMENT INC US WM 31.76 $3,519.34
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 1,556.87 $1,619.14
949746101 WELLS FARGO COMPANY US WFC 219.33 $8,959.69
95040Q104 WELLTOWER INC. US WELL 58.6 $4,384.49
958102105 WESTERN DIGITAL CORP US WDC 25.72 $1,428.97
966387AH5 WHITING PETROLEUM CORP 5.75000 03/15/2021 US 1,556.87 $895.20
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 25,532.62 $26,795.54
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 37.68 $1,919.60
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 2,490.99 $2,391.35
B02J639 ADMIRAL GROUP PLC GB ADM LN 573.86 $15,750.28
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 1,027.53 $6,726.49
B1Y47Y7 GERRESHEIMER AG DE GXI GR 149.15 $10,751.74
B1Y9TB3 DANONE FR BN FP 258.63 $18,253.45
B4YVF56 BRENNTAG AG DE BNR GR 2,581.29 $117,120.51
B63QM77 NEXON CO LTD JP 3659 JP 21,111.12 $333,850.06
B7KR2P8 EASY JET PLC GB EZJ LN 8,040.28 $116,064.52
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 200.52 $4,029.51
BD3HF92 BSR REAL ESTATE INVESTMENT CA HOM/U CN 90.92 $1,131.83
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 1,062.72 $1,435.14
BGHVXC0 DRILLING CO OF 1972/THE DK DRLCO DC 164.41 $7,280.03
BGJW376 MEITUAN DIANPING - CLASS B CN 3690 HK 305.15 $3,936.99
BJ2KSG2 AKZO NOBEL NL AKZA NA 133.21 $10,657.81
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 5,415.47 $274,589.75
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 2,537.38 $10,991.44
BNGN9Z1 FINECOBANK SPA IT FBK IM 8,214.34 $86,193.06
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 3,969.39 $123,840.51
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 519.06 $3,495.11
BYXS699 QIAGEN N.V. NL QIA GR 271.7 $9,958.26
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 2,284.42 $131,996.00
BZ0VW78 BINGO INDUSTRIES LTD AU BIN AU 2,122.63 $4,012.13
G0750C108 AXALTA COATING SYSTEMS LTD US AXTA 3,195.94 $79,642.74
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 342.2 $9,472.08
G29183103 EATON CORP PLC US ETN 36.31 $3,293.69
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 68.07 $2,489.18
G5960L103 MEDTRONIC INC IE MDT 2,971.62 $299,153.32
G97822103 PERRIGO CO PLC IE PRGO 220.45 $11,174.73
H01301128 ALCON INC CH ALC 1,795.38 $110,056.74
H1467J104 CHUBB LTD CH CB 22.61 $3,278.51
N22717107 CORE LABORATORIES N.V. NL CLB 2,671.58 $71,705.31
N47279109 INTERXION HOLDING NV NL INXN 75.35 $6,396.66
N53745100 LYONDELLBASELL INDU-CL A US LYB 34.19 $2,443.13
N72482123 QIAGEN N.V. ADR NL QGEN 2,288.28 $82,149.37

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

A Word About Risk

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

About The Fund Manager

Manning & Napier Advisors, LLC (Manning & Napier) provides investment advisory services to Exeter Trust Company, Trustee of the Manning & Napier Collective Investment Trust Funds. Manning & Napier is headquartered in Rochester, NY and has more than 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

$17.18

Daily $ Change

$0.48

Daily % Change

2.79%

as of 03/30/2020

CUSIP

302027537

Inception Date

08/17/2012

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 15% - 45%.

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 02/29/2020

YTD

-5.11%

1 Year

10.01%

3 Year

9.53%

5 Year

6.37%

10 Year

8.49%

Inception
(01/01/2000)

7.09%

US Stock Market Cycle (04/01/2000 - 02/29/2020)

7.23%

Performance through the inception date of the Retirement Target CIT Class S units is based on historical performance of the CIT's oldest unit class. Performance through the inception date of the oldest unit class (08/03/2012) 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 S 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 0.94%
Net 0.89%*

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

Top Ten Investments

As of 02/29/2020

TREASURY NOTES 7.01%
COCA COLA CO/THE 2.28%
FACEBOOK INC -A 2.12%
MONDELEZ INTERNATIONAL INC 2.07%
JOHNSON & JOHNSON 2.04%
BERKSHIRE HATHAWAY INC-CL B 1.92%
MASTERCARD INC-CLASS A 1.90%
NEXON CO LTD 1.86%
TREASURY BONDS 1.83%
MICRON TECHNOLOGY INC 1.82%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 02/29/2020

Stocks
83.03%
Bonds
15.76%
Cash
1.21%

Detailed Asset Class Allocation

As of 02/29/2020

International Equities
25.46%
Small Capitalization
2.85%
Mid Capitalization
3.52%
Large Capitalization
51.19%
Long Term Fixed Income
3.28%
Intermediate Term Fixed Income
7.14%
Short Term Fixed Income
5.35%
Cash
1.21%

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

February Fund Holdings

As of 02/29/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAK2 ADT SEC CORP 6.25000 10/15/2021 US 934.12 $974.03
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 31,760.09 $35,794.72
00287Y109 ABBVIE INC US ABBV 87.62 $7,509.95
004239109 ACADIA REALTY TRUST US AKR 78.78 $1,799.28
00489LAA1 ACRISURE LLC / FIN INC 7.00000 11/15/2025 US 934.12 $912.82
00507V109 ACTIVISION INC US ATVI 2,791.77 $162,285.82
00751Y106 ADVANCE AUTO PARTS INC US AAP 985.81 $131,092.78
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 19,305.15 $21,288.48
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 1,245.49 $1,310.88
008492100 AGREE REALTY CORP US ADC 21.17 $1,520.67
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 19,927.9 $21,136.65
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 8.1 $1,229.58
01609W102 ALIBABA GROUP - ADR CN BABA 471.11 $97,990.46
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 24,909.87 $26,831.60
020002101 ALLSTATE CORPORATION US ALL 20.49 $2,156.40
02079K107 ALPHABET INC-CL C US GOOG 125.48 $168,063.80
02079K305 ALPHABET INC-CL A US GOOGL 125.79 $168,470.76
02209S103 ALTRIA GROUP INC US MO 2,675.63 $108,015.25
023135106 AMAZON.COM INC US AMZN 114.59 $215,850.28
02319V103 AMBEV SA-ADR BR ABEV 37,853.67 $121,510.27
0237400 DIAGEO PLC GB DGE LN 3,543.68 $126,436.95
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 78.15 $3,395.04
0263494 BAE SYSTEMS PLC GB BA/ LN 2,212.31 $17,499.54
02665T306 AMERICAN HOMES 4 RENT- A US AMH 173.75 $4,498.29
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 2,802.36 $2,914.72
03027X100 AMERICAN TOWER REIT INC US AMT 913.88 $207,268.20
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 33,005.58 $36,359.65
03064D108 AMERICOLD REALTY TRUST US COLD 104.93 $3,218.29
031162100 AMGEN INC US AMGN 38.3 $7,649.45
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 934.12 $635.20
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 1,245.49 $853.16
03748R754 APARTMENT INVT & MGMT CO -A US AIV 92.48 $4,424.14
038222105 APPLIED MATERIALS INC US AMAT 54.3 $3,156.12
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 39.42 $1,484.16
043436AT1 ASBURY AUTOMOTIVE GROUP 4.75000 03/01/2030 US 934.12 $950.47
045086AF2 ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 US 1,245.49 $1,285.97
053332102 AUTOZONE INC US AZO 122.06 $126,026.50
053484101 AVALONBAY COMMUNITIES INC US AVB 34.56 $6,932.88
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 22,418.89 $22,568.94
055622104 BP PLC-SPONS ADR GB BP 1,030.96 $32,258.66
05722G100 BAKER HUGHES CO US BKR 66.95 $1,077.15
060505104 BANK OF AMERICA CORP US BAC 282.79 $8,059.50
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 49,819.75 $54,350.44
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 1,664.29 $343,409.78
086516101 BEST BUY INC US BBY 27.53 $2,082.30
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 1,491.48 $134,784.93
09247X101 BLACKROCK INC US BLK 513.45 $237,734.69
0946580 WEIR GROUP PLC/THE GB WEIR LN 716.47 $12,101.61
097023105 BOEING CO US BA 27.28 $7,503.99
09857L108 BOOKING HOLDINGS INC US BKNG 64.14 $108,764.59
101121101 BOSTON PROPERTIES INC US BXP 38.49 $4,962.35
101137107 BOSTON SCIENTIFIC CORP US BSX 2,906.05 $108,657.14
105368203 BRANDYWINE REALTY TRUST US BDN 274.32 $3,725.27
110122108 BRISTOL MYERS SQUIBB CO US BMY 99.27 $5,862.64
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 174.06 $6,927.50
11135F101 BROADCOM INC US AVGO 19.68 $5,364.83
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 1,245.49 $660.11
1248EPCE1 CCO HLDGS LLC/CAP CORP 4.50000 08/15/2030 US 934.12 $944.63
12503M108 CBOE GLOBAL MARKETS INC US CBOE 1,390.91 $158,563.17
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 18.25 $1,257.18
12572Q105 CME GROUP INC US CME 831.06 $165,230.48
12662PAD0 CVR ENERGY INC 5.75000 02/15/2028 US 934.12 $882.74
126650100 CVS HEALTH CORP US CVS 79.84 $4,724.70
131477AT8 CALUMET SPECIALTY PROD 11.00000 04/15/2025 US 1,556.87 $1,642.49
133131102 CAMDEN PROPERTY TRUST US CPT 52 $5,510.89
13321L108 CAMECO CORP CA CCJ 1,242.82 $10,787.64
14180LAA4 CARGO AIRCRAFT MANAGEMENT 4.75000 02/01/2028 US 934.12 $925.95
149123101 CATERPILLAR INC US CAT 32.82 $4,077.40
156700AW6 CENTURYLINK INC 5.62500 04/01/2020 US 934.12 $935.87
166764100 CHEVRON CORP US CVX 370.35 $34,568.24
17275R102 CISCO SYSTEMS INC US CSCO 188.82 $7,539.46
172967424 CITIGROUP INC US C 80.09 $5,082.21
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 9,341.2 $16,171.67
191216100 COCA COLA CO/THE US KO 7,620.55 $407,623.37
194162103 COLGATE-PALMOLIVE CO US CL 60.47 $4,085.87
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 26,155.37 $28,265.25
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 62.9 $2,995.80
20451NAG6 COMPASS MINERALS INTERNA 6.75000 12/01/2027 US 1,556.87 $1,650.28
205887102 CONAGRA BRAND INC. US CAG 38.55 $1,028.85
20825C104 CONOCOPHILLIPS US COP 576.66 $27,922.05
222795502 COUSINS PROPERTIES INC US CUZ 123.55 $4,409.61
225310AN1 CREDIT ACCEPTANC 5.12500 12/31/2024 US 934.12 $962.14
22822V101 CROWN CASTLE INTL CORP US CCI 20.55 $2,944.70
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 36,119.32 $38,067.36
228368106 CROWN HOLDINGS INC US CCK 1,767.04 $124,576.61
231021106 CUMMINS INC US CMI 15.57 $2,355.38
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 505.36 $3,734.89
25277LAC0 DIAMOND SPORTS GR/DIAMON 6.62500 08/15/2027 US 1,556.87 $1,255.85
253868103 DIGITAL REALTY TRUST INC US DLR 6.54 $785.38
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 30,514.59 $35,974.31
256677105 DOLLAR GENERAL CORP US DG 1,527.91 $229,644.77
256746108 DOLLAR TREE STORES INC US DLTR 2,694.63 $223,734.76
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 1,868.24 $1,919.06
25960P109 DOUGLAS EMMETT INC US DEI 81.58 $3,114.72
260557103 DOW INC US DOW 45.96 $1,857.19
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 12,454.94 $13,003.58
2715777 QUEBECOR INC -CL B CA QBR/B CN 5,447.79 $127,280.81
277432100 EASTMAN CHEM CO US EMN 18.43 $1,133.83
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 7,111.46 $123,076.29
285512109 ELECTRONIC ARTS US EA 2,680.93 $271,765.38
2866857 LUNDIN MINING CORP CA LUN CN 8,384.35 $42,788.46
291011104 EMERSON ELEC CO US EMR 49.7 $3,185.96
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 22,418.89 $27,017.49
29413XAD9 ENVIVA PARTNERS LP/FIN C 6.50000 01/15/2026 US 1,556.87 $1,619.17
29444U700 EQUINIX INC US EQIX 321.34 $184,062.04
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 30.2 $2,063.79
29476L107 EQUITY RESIDENTIAL US EQR 46.08 $3,460.85
29670E107 ESSENTIAL PROPERTIES REALTY US EPRT 104.5 $2,394.02
297178105 ESSEX PROPERTY TRUST INC US ESS 9.78 $2,770.45
30225T102 EXTRA SPACE STORAGE INC US EXR 11.21 $1,124.98
30303M102 FACEBOOK INC -A US FB 1,970.99 $379,357.16
30744W107 FARFETCH LTD - CLASS A GB FTCH 351.23 $3,923.23
311900104 FASTENAL CO US FAST 59.47 $2,035.14
313747206 FEDERAL RLTY INVT TR SH BEN INT US FRT 7.78 $905.63
315786AC7 FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 US 1,245.49 $1,382.50
316773100 FIFTH THIRD BANCORP US FITB 68.81 $1,679.05
32054K103 FIRST INDUSTRIAL REALTY TR US FR 42.04 $1,618.36
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 1,556.87 $1,563.69
339750101 FLOOR & DECOR HOLDINGS INC -A US FND 1,724.07 $88,014.01
346232AE1 FORESTAR GROUP INC 5.00000 03/01/2028 US 1,556.87 $1,529.62
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 934.12 $978.49
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 1,556.87 $1,618.67
35671D857 FREEPORT-MCMORAN INC US FCX 6,153.98 $61,293.68
364760108 GAP INC US GPS 46.33 $663.94
369550108 GENERAL DYNAMICS CORP US GD 15.2 $2,426.49
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 15,568.67 $15,241.26
370334104 GENERAL MLS INC US GIS 54.49 $2,670.03
37185LAL6 GENESIS ENERGY LP/FIN 7.75000 02/01/2028 US 1,556.87 $1,338.91
372460105 GENUINE PARTS CO US GPC 18.81 $1,640.72
374297109 GETTY REALTY CORP US GTY 45.15 $1,279.53
375558103 GILEAD SCIENCES INC US GILD 87.31 $6,055.76
37960JAA6 GLOBAL AIR LEASE CO LTD 6.50000 09/15/2024 KY 2,490.99 $2,453.62
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 11,785.8 $159,343.95
38869PAK0 GRAPHIC PACKAGING INTERN 4.75000 04/15/2021 US 1,245.49 $1,264.14
398433AN2 GRIFFON CORPORATION 5.75000 03/01/2028 US 934.12 $934.47
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 63.83 $6,918.06
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 40.79 $6,811.92
404119BX6 HCA INC 4.12500 06/15/2029 US 24,909.87 $27,333.48
404139AD9 HC2 HOLDINGS INC 11.50000 12/01/2021 US 622.75 $628.97
406216101 HALLIBURTON CO US HAL 6,718.13 $113,939.49
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421946104 HEALTHCARE REALTY TRUST INC US HR 90.92 $3,118.59
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 56.05 $1,745.31
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 147.28 $4,659.93
427866108 HERSHEY CO/THE US HSY 19.49 $2,806.65
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 13.39 $1,301.42
437076102 HOME DEPOT INC US HD 50.82 $11,069.79
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44107P104 HOST MARRIOTT CORP US HST 111.16 $1,609.60
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452308109 ILLINOIS TOOL WKS INC US ITW 22.11 $3,709.20
45337C102 INCYTE CORP US INCY 683.15 $51,516.59
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45781V101 INNOVATIVE INDUSTRIAL PROPER US IIPR 24.79 $2,278.76
458140100 INTEL CORP US INTC 212.23 $11,783.13
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 1,826.52 $162,961.80
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 51.87 $6,751.51
460146103 INTERNATIONAL PAPER CO US IP 32.94 $1,217.58
46120E602 INTUITIVE SURGICAL INC US ISRG 108.05 $57,692.55
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46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 24,909.87 $27,006.13
4741844 MERCK KGAA DE MRK GR 1,147.72 $139,659.49
476405105 JERNIGAN CAPITAL INC US JCAP 200.21 $3,587.82
478160104 JOHNSON & JOHNSON US JNJ 2,717.17 $365,404.88
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 2,179.61 $523.11
482480100 KLA-TENCOR CORPORATION US KLAC 16.19 $2,488.78
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 1,556.87 $1,634.71
487836108 KELLOGG CO US K 29.52 $1,784.97
493267108 KEYCORP US KEY 94.22 $1,540.52
49427F108 KILROY REALTY CORP US KRC 13.33 $968.72
494368103 KIMBERLY CLARK CORP US KMB 27.46 $3,602.89
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 26,778.11 $35,890.28
500255104 KOHLS CORP US KSS 19.74 $772.86
501044101 KROGER CO US KR 55.86 $1,571.35
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 2,179.61 $2,274.97
5107401 BEIERSDORF AG DE BEI GR 1,557.49 $164,467.69
512807108 LAM RESEARCH CORP US LRCX 9.09 $2,667.90
516806AG1 LAREDO PETROLEUM INC 10.12500 01/15/2028 US 1,556.87 $1,116.86
53223X107 LIFE STORAGE INC US LSI 9.96 $1,075.21
539830109 LOCKHEED MARTIN CORP US LMT 15.63 $5,781.42
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 934.12 $609.51
550021109 LULULEMON - ADR CA LULU 1,281.74 $278,662.55
56585A102 MARATHON PETROLEUM CORP US MPC 58.97 $2,796.55
57636Q104 MASTERCARD INC-CLASS A US MA 1,170.45 $339,723.88
57772K101 MAXIM INTEGRATED PRODUCTS US MXIM 26.22 $1,458.23
58933Y105 MERCK & CO INC US MRK 825.39 $63,191.75
594918104 MICROSOFT CORP US MSFT 1,843.95 $298,738.88
595112103 MICRON TECHNOLOGY INC US MU 6,187.92 $325,237.28
59522J103 MID-AMERICA APARTMENT COMM US MAA 15.88 $2,052.65
60871R209 MOLSON COORS BREWING CO -B US TAP 20.3 $1,007.16
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 7,024.15 $370,875.03
615369105 MOODY'S CORPORATION US MCO 727.06 $174,515.47
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 934.12 $546.18
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 2,179.61 $2,124.47
6356934 FANUC LTD JP 6954 JP 37.36 $6,135.82
637417106 NATIONAL RETAIL PROPERTIES US NNN 35.5 $1,805.00
63938CAA6 NAVIENT CORP 5.00000 10/26/2020 US 1,556.87 $1,571.97
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 934.12 $985.50
64110D104 NETAPP INC US NTAP 20.18 $942.67
6490995 KEYENCE CORP JP 6861 JP 31.14 $9,942.33
654106103 NIKE INC CLASS B US NKE 2,783.37 $248,777.34
6642321 NIKON CORP JP 7731 JP 379.88 $3,880.34
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 2,179.61 $1,656.51
66987V109 NOVARTIS AG- REG CH NVS 1,933.94 $162,373.62
670346105 NUCOR CORP US NUE 36.06 $1,490.96
67059TAD7 NUSTAR LOGISTICS LP 6.75000 02/01/2021 US 934.12 $952.90
67066G104 NVIDIA CORP US NVDA 485.12 $131,016.30
67401PAB4 OAKTREE SPECIALTY LEND 3.50000 02/25/2025 US 1,556.87 $1,558.93
6742340 SHANDONG WEIGAO CN 1066 HK 10,213.05 $13,326.78
674599105 OCCIDENTAL PETROLEUM CORP US OXY 39.54 $1,294.68
675232102 OCEANEERING INTL INC US OII 5,687.24 $59,943.46
675232AB8 OCEANEERING INTL INC 6.00000 02/01/2028 US 1,556.87 $1,451.78
681936100 OMEGA HEALTHCARE INVS INC US OHI 51.69 $2,046.84
6821506 SONY CORP FIRST SECTION JP 6758 JP 217.96 $13,436.86
7021963 DEUTSCHE BOERSE AG DE DB1 GR 1,182.91 $186,134.55
70450Y103 PAYPAL HOLDINGS INC US PYPL 1,154.26 $124,648.67
7123870 NESTLE SA-REGISTERED CH NESN SW 1,785.42 $183,729.61
713448108 PEPSICO INC US PEP 1,838.66 $242,758.28
717081103 PFIZER INC US PFE 271.77 $9,082.44
718172109 PHILIP MORRIS INTERNATIONAL US PM 2,206.7 $180,662.81
718546104 PHILLIPS 66 US PSX 28.15 $2,107.17
719245AD4 PHOTO HOLDINGS MERGER SU 8.50000 10/01/2026 US 1,556.87 $1,475.13
71943U104 PHYSICIANS REALTY TRUST US DOC 186.2 $3,511.76
729640102 PLYMOUTH INDUSTRIAL REIT INC US PLYM 67.26 $1,262.41
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 29,269.1 $32,051.55
74166MAB2 PRIME SECSRVC BRW/FINANC 5.25000 04/15/2024 US 934.12 $966.81
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 934.12 $961.86
74340E103 PROGYNY INC US PGNY 2,394.46 $65,919.53
74340W103 PROLOGIS US PLD 132.15 $11,137.34
74460D109 PUBLIC STORAGE INC US PSA 23.35 $4,883.58
74834L100 QUEST DIAGNOSTICS INC US DGX 13.76 $1,459.67
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 1,556.87 $1,650.28
756109104 REALTY INCOME CORP US O 23.66 $1,713.06
758849103 REGENCY CENTERS CORP US REG 32.38 $1,860.07
7591EP100 REGIONS FINANCIAL CORP. US RF 85 $1,149.27
76131D103 RESTAURANT BRANDS INTERN CA QSR 287.71 $16,830.98
7698356 GETINGE AB-B SHS SE GETIB SS 514.08 $8,621.18
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 1,556.87 $1,561.65
773903109 ROCKWELL AUTOMATION INC US ROK 9.03 $1,656.97
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 720.52 $32,084.67
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 1,586.45 $113,716.56
78409V104 S&P GLOBAL INC US SPGI 620.88 $165,097.82
78410G104 SBA COMMUNICATIONS CORP US SBAC 874.34 $231,777.87
78442PGC4 SLM CORP 5.12500 04/05/2022 US 2,179.61 $2,223.21
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 38,610.3 $44,817.65
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 33,005.58 $36,687.37
806857108 SCHLUMBERGER LTD NL SLB 3,202.85 $86,765.18
81141R100 SEA LTD - ADR SG SE 1,850.18 $83,369.15
812578102 SEATTLE GENETICS INC US SGEN 576.66 $65,658.91
81762P102 SERVICENOW INC US NOW 954.98 $311,410.16
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 1,868.24 $1,550.64
828806109 SIMON PROPERTY GROUP INC US SPG 39.86 $4,905.45
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 12.89 $1,327.63
835699307 SONY CORP SPONSORED ADR JP SNE 3,823.04 $237,793.26
84265V105 SOUTHERN COPPER CORPORATION US SCCO 2,533.65 $85,257.17
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 23,041.63 $23,076.19
852061AR1 SPRINT COMMUNICATIONS 7.00000 08/15/2020 US 2,490.99 $2,540.81
85207UAE5 SPRINT CORP 7.25000 09/15/2021 US 934.12 $991.43
85207UAH8 SPRINT CORP 7.12500 06/15/2024 US 1,556.87 $1,766.39
85254J102 STAG INDUSTRIAL INC US STAG 94.66 $2,648.52
85571BAP0 STARWOOD PROPERTY TRUST 3.62500 02/01/2021 US 1,556.87 $1,543.24
857949BL0 SS INT BEARING FD .022% 01/02/15 US 218,703.18 $218,703.18
862121100 STORE CAPITAL CORP US STOR 86.56 $2,844.42
866674104 SUN COMMUNITIES US SUI 34.25 $5,236.30
86723CAF5 SUNCOKE ENRGY PART LP/FI 7.50000 06/15/2025 US 934.12 $840.71
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 91.86 $1,005.81
871829107 SYSCO CORP US SYY 42.72 $2,847.32
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 1,245.49 $871.85
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 24,287.13 $27,542.33
882508104 TEXAS INSTRUMENTS INC US TXN 53.99 $6,162.66
883556102 THERMO FISHER SCIENTIFIC INC US TMO 388.91 $113,093.69
88579Y101 3M CO US MMM 35.43 $5,288.21
89151E109 TOTAL S A SPONSORED ADR FR TOT 764.11 $32,963.72
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 622.75 $628.97
89417E109 TRAVELLERS COS INC US TRV 15.63 $1,872.74
89832Q109 TRUIST FINANCIAL CORP US TFC 90.24 $4,163.49
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 2,490.99 $2,366.44
902494103 TYSON FOODS INC -CL A US TSN 23.6 $1,600.93
902653104 UDR INC US UDR 58.35 $2,624.64
902973304 U.S. BANCORP US USB 103.81 $4,821.02
903002103 UMH PROPERTIES INC US UMH 72.55 $1,052.70
904767704 UNILEVER PLC - ADR GB UL 4,021.01 $216,853.28
907818108 UNION PAC CORP US UNP 39.54 $6,319.59
911312106 UNITED PARCEL SERVICE US UPS 59.04 $5,342.20
912796TQ2 TREASURY BILL 0.00000 04/09/2020 US 97,771.25 $97,627.26
912810FS2 TSY INFL IX N/B 2.00000 01/15/2026 US 87,482.36 $99,696.70
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 58,711.34 $67,474.21
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 141,363.53 $164,914.91
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 125,794.86 $162,211.49
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 195,713.95 $196,139.75
912828K74 US TREASURY N/B 2.00000 08/15/2025 US 611,661.93 $645,183.87
912828YN4 US TREASURY FRN 1.45838 10/31/2021 US 608,735.02 $611,020.25
913017109 UNITED TECHNOLOGIES CORP US UTX 46.39 $6,058.68
91324P102 UNITEDHEALTH GROUP INC US UNH 456.78 $116,461.85
91336L107 UNIVAR SOLUTIONS INC US UNVR 5,894.92 $100,154.72
91704F104 URBAN EDGE PROPERTIES US UE 104.31 $1,689.82
918204108 VF CORP US VFC 30.83 $2,219.47
91913Y100 VALERO ENERGY US VLO 35.56 $2,355.77
92276F100 VENTAS INC US VTR 48.95 $2,631.93
92339V100 VEREIT INC US VER 201.46 $1,744.63
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 41,724.04 $55,737.84
92511U102 VERRA MOBILITY CORP US VRRM 17,672 $267,642.41
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 292.38 $65,501.81
92556H206 VIACOMCBS INC US VIAC 24.54 $603.84
92826C839 VISA INC - CLASS A SHARES US V 1,460.03 $265,375.04
92840JAA7 VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 MUL 1,556.87 $1,455.67
929042109 VORNADO REALTY TRUST US VNO 11.83 $633.97
931142103 WAL MART STORES US WMT 123.93 $13,344.42
931427108 WALGREENS BOOTS ALLIANCE INC US WBA 61.9 $2,832.59
94106L109 WASTE MANAGEMENT INC US WM 31.76 $3,519.34
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 1,556.87 $1,619.14
949746101 WELLS FARGO COMPANY US WFC 219.33 $8,959.69
95040Q104 WELLTOWER INC. US WELL 58.6 $4,384.49
958102105 WESTERN DIGITAL CORP US WDC 25.72 $1,428.97
966387AH5 WHITING PETROLEUM CORP 5.75000 03/15/2021 US 1,556.87 $895.20
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 25,532.62 $26,795.54
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 37.68 $1,919.60
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 2,490.99 $2,391.35
B02J639 ADMIRAL GROUP PLC GB ADM LN 573.86 $15,750.28
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 1,027.53 $6,726.49
B1Y47Y7 GERRESHEIMER AG DE GXI GR 149.15 $10,751.74
B1Y9TB3 DANONE FR BN FP 258.63 $18,253.45
B4YVF56 BRENNTAG AG DE BNR GR 2,581.29 $117,120.51
B63QM77 NEXON CO LTD JP 3659 JP 21,111.12 $333,850.06
B7KR2P8 EASY JET PLC GB EZJ LN 8,040.28 $116,064.52
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 200.52 $4,029.51
BD3HF92 BSR REAL ESTATE INVESTMENT CA HOM/U CN 90.92 $1,131.83
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 1,062.72 $1,435.14
BGHVXC0 DRILLING CO OF 1972/THE DK DRLCO DC 164.41 $7,280.03
BGJW376 MEITUAN DIANPING - CLASS B CN 3690 HK 305.15 $3,936.99
BJ2KSG2 AKZO NOBEL NL AKZA NA 133.21 $10,657.81
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 5,415.47 $274,589.75
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 2,537.38 $10,991.44
BNGN9Z1 FINECOBANK SPA IT FBK IM 8,214.34 $86,193.06
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 3,969.39 $123,840.51
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 519.06 $3,495.11
BYXS699 QIAGEN N.V. NL QIA GR 271.7 $9,958.26
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 2,284.42 $131,996.00
BZ0VW78 BINGO INDUSTRIES LTD AU BIN AU 2,122.63 $4,012.13
G0750C108 AXALTA COATING SYSTEMS LTD US AXTA 3,195.94 $79,642.74
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 342.2 $9,472.08
G29183103 EATON CORP PLC US ETN 36.31 $3,293.69
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 68.07 $2,489.18
G5960L103 MEDTRONIC INC IE MDT 2,971.62 $299,153.32
G97822103 PERRIGO CO PLC IE PRGO 220.45 $11,174.73
H01301128 ALCON INC CH ALC 1,795.38 $110,056.74
H1467J104 CHUBB LTD CH CB 22.61 $3,278.51
N22717107 CORE LABORATORIES N.V. NL CLB 2,671.58 $71,705.31
N47279109 INTERXION HOLDING NV NL INXN 75.35 $6,396.66
N53745100 LYONDELLBASELL INDU-CL A US LYB 34.19 $2,443.13
N72482123 QIAGEN N.V. ADR NL QGEN 2,288.28 $82,149.37

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

A Word About Risk

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

About The Fund Manager

Manning & Napier Advisors, LLC (Manning & Napier) provides investment advisory services to Exeter Trust Company, Trustee of the Manning & Napier Collective Investment Trust Funds. Manning & Napier is headquartered in Rochester, NY and has more than 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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