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

$16.18

Daily $ Change

-$0.06

Daily % Change

-0.37%

as of 09/27/2022

CUSIP

56382R787

Inception Date

05/14/2015

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

Important Documents

Annual Report
Applications & Forms

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

Performance

As of 08/31/2022

YTD

-17.90%

1 Year

-16.30%

3 Year

9.00%

5 Year

9.14%

10 Year

9.70%

Inception
(01/01/2000)

7.85%

Performance through the inception date of the Retirement Target CIT Class U1 units is based on the historical performance of the CIT’s oldest unit class. Performance through the inception date of the oldest unit class (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 U1 expenses. The Retirement Target CIT Fund will gradually become more conservative over time. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.53%
Net 0.49%*

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

Top Ten Investments

As of 08/31/2022

TREASURY NOTES 6.36%
AMAZON.COM INC 3.21%
MICROSOFT CORP 2.81%
TREASURY BONDS 2.16%
MASTERCARD INC-CLASS A 2.16%
MEDTRONIC INC 2.03%
COCA COLA CO/THE 2.00%
MONDELEZ INTERNATIONAL INC 1.90%
JOHNSON & JOHNSON 1.85%
SALESFORCE INC 1.83%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 08/31/2022

Stocks 83.42%
Bonds 11.15%
Cash 5.43%

Detailed Asset Class Allocation

As of 08/31/2022

International Equities 23.54%
Small Capitalization 2.44%
Mid Capitalization 7.45%
Large Capitalization 49.99%
Long Term Fixed Income 2.48%
Intermediate Term Fixed Income 5.91%
Short Term Fixed Income 2.76%
Cash 5.43%

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

August Fund Holdings

As of 08/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 56.62 $5,811.95
ACTIVISION INC US ATVI 1,345.33 $105,595.26
ADIDAS AG-SPONSORED ADR DE ADDYY 1,768.61 $131,195.39
ADMIRAL GROUP PLC GB AMIGY 3,502.12 $88,183.38
ADYEN NV UNSPON ADR NL ADYEY 9,309.36 $144,388.19
AGREE REALTY CORP US ADC 48.94 $3,685.90
AIR LIQUIDE-ADR FR AIQUY 4,458.33 $111,770.32
AIR LEASE CORP 3.62500 04/01/2027 US 10,523.99 $9,763.62
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 2,340.91 $2,356.85
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 24,731.37 $20,798.48
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 13,154.98 $10,962.45
ALIGN TECHNOLOGY INC US ALGN 479.1 $116,757.77
ALLSTATE CORPORATION US ALL 23.73 $2,859.66
ALPHABET INC-CL A US GOOGL 1,950.09 $211,039.26
AMAZON.COM INC US AMZN 4,337.99 $549,926.68
AMAZON.COM INC 3.30000 04/13/2027 US 23,152.77 $22,653.31
DIAGEO PLC GB DGE LN 408.07 $17,729.07
BAE SYSTEMS PLC GB BA/ LN 1,597.12 $14,383.83
AMERICAN HOMES 4 RENT- A US AMH 244.16 $8,682.21
AMERICAN TOWER REIT INC US AMT 27.05 $6,871.20
ANALOG DEVICES INC US ADI 32.36 $4,903.70
APPLE HOSPITALITY REIT INC US APLE 535.25 $8,515.83
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 2,631 $2,657.10
ARCHER-DANIELS-MIDLAND CO US ADM 37.25 $3,274.33
ARGO BLOCKCHAIN PLC GB 189.43 $3,377.57
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 10,523.99 $9,643.88
AUTOMATIC DATA PROCESSING US ADP 23.15 $5,658.77
AVALONBAY COMMUNITIES INC US AVB 41.57 $8,351.78
BAE SYSTEMS PLC -SPON ADR GB BAESY 3,117.63 $112,546.30
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 9,997.79 $9,842.11
BANK OF AMERICA CORP 2.68700 04/22/2032 US 18,943.18 $15,810.23
BARRICK GOLD CORP CA GOLD 2,937.24 $43,618.09
BAXTER INTERNATIONAL INC US BAX 28.68 $1,647.83
BEST BUY INC US BBY 22.99 $1,625.51
BIOMARIN PHARMACEUTICAL INC US BMRN 1,395.48 $124,476.88
BLACKROCK INC US BLK 269.26 $179,429.65
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 9,208.49 $8,147.67
DECHRA PHARMACEUTICALS PLC GB DPH LN 287.88 $11,642.85
BOSTON SCIENTIFIC CORP US BSX 2,268.45 $91,441.04
BRANDYWINE REALTY TRUST US BDN 304.3 $2,443.54
BRENNTAG AG-UNSP ADR DE BNTGY 5,952.74 $77,921.31
BRISTOL MYERS SQUIBB CO US BMY 107.19 $7,225.46
BROADRIDGE FINANCIAL SOLUTIONS US BR 11.05 $1,891.46
JONAH ENERGY PARENT LLC US 104.77 $5,962.25
CBOE GLOBAL MARKETS INC US CBOE 742.47 $87,588.87
CDW CORP/DE US CDW 479.32 $81,819.07
C.H. ROBINSON WORLDWIDE INC US CHRW 15.05 $1,717.88
CVS HEALTH CORP US CVS 1,296.34 $127,236.24
COTERRA ENERGY INC US CTRA 52.3 $1,616.72
CAMDEN PROPERTY TRUST US CPT 46.67 $5,998.06
CAMECO CORP CA CCJ 230.32 $6,713.75
CAMPBELL SOUP CO US CPB 32.99 $1,662.17
CANADIAN NATIONAL RAILWAY CO CA CNI 2,085.85 $248,028.93
CARETRUST REIT INC US CTRE 328.61 $7,078.29
CATERPILLAR INC US CAT 28.68 $5,297.09
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 7,954.24 $154,550.88
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 22,047.75 $24,080.73
CHARTER COMMUNICATIONS INC-A US CHTR 468.32 $193,241.82
CHEVRON CORP US CVX 52.2 $8,250.57
CINCINNATI FINANCIAL CORP US CINF 15.15 $1,469.38
CISCO SYSTEMS INC US CSCO 181.8 $8,130.18
CITIGROUP INC US C 114.55 $5,591.36
CITIGROUP INC 1.46200 06/09/2027 US 17,890.78 $15,791.55
CLARK CNTY NV 1.51000 11/01/2028 US 18,416.98 $15,768.23
COCA COLA CO/THE US KO 5,540.93 $341,930.91
COGNEX CORP US CGNX 1,301.03 $54,786.29
COLGATE-PALMOLIVE CO US CL 54.88 $4,292.37
COMCAST CORP-CL A US CMCSA 189.48 $6,857.44
COMMUNITY HEALTHCARE TRUST I US CHCT 100.56 $3,709.54
CONAGRA BRAND INC. US CAG 50.09 $1,722.24
CONOCOPHILLIPS US COP 46.67 $5,108.46
CONSTELLATION BRANDS INC-A US STZ 1,141.27 $280,810.42
CONTROLADORA VUELA CIA DE AV MX VLRS 570.14 $5,062.82
COPART INC US CPRT 693.27 $82,949.48
COUSINS PROPERTIES INC US CUZ 223.42 $5,998.94
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 13,154.98 $11,645.93
CUMMINS INC US CMI 12 $2,583.87
KIMBERLY CLARK DE MEXICO S.A.B. MX 11,160.69 $15,151.26
DEUTSCHE BOERSE AG ADR DE DBOEY 7,403.94 $124,778.61
DEVON ENERGY CORPORATION US DVN 36.83 $2,601.21
DIAMONDBACK ENERGY INC US FANG 11.05 $1,472.77
DIGITAL REALTY TRUST INC US DLR 84.24 $10,415.15
DOLLAR GENERAL CORP US DG 645.86 $153,339.39
DOLLAR TREE STORES INC US DLTR 1,351.86 $183,420.20
DOMINO'S PIZZA US DPZ 307.77 $114,448.84
DOUBLEVERIFY HOLDINGS INC US DV 5,819.61 $150,436.84
DOW INC US DOW 38.25 $1,950.99
DREYFUS GVT CSH MANAGEMENT US 983,587.63 $983,587.63
DUKE RLTY INVTS INC US DRE 97.93 $5,762.93
EOG RESOURCES INC US EOG 26.36 $3,197.78
EAST WEST BANCORP INC US EWBC 1,774.71 $128,081.01
EASTMAN CHEM CO US EMN 14.1 $1,283.30
EBAY INC US EBAY 35.2 $1,553.50
ELECTRONIC ARTS US EA 1,455.57 $184,668.51
EMERSON ELEC CO US EMR 40.41 $3,303.29
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 24,205.17 $24,466.67
EQUINIX INC US EQIX 351.5 $231,066.33
EQUITY LIFESTYLE PROPERTIES US ELS 172.28 $12,076.66
ESSEX PROPERTY TRUST INC US ESS 25.68 $6,806.35
EVERGY INC US EVRG 1,888.48 $129,417.32
EXPEDIA GROUP INC 3.25000 02/15/2030 US 10,523.99 $9,106.83
EXTRA SPACE STORAGE INC US EXR 20.84 $4,141.04
FMC CORP US FMC 1,580.55 $170,825.31
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 9,208.49 $9,242.24
META PLATFORMS INC US META 1,554.66 $253,300.11
FEDEX CORPORATION US FDX 403.23 $85,004.19
FIFTH THIRD BANCORP US FITB 63.88 $2,181.52
GENERAL DYNAMICS CORP US GD 18.21 $4,168.01
GENERAL MLS INC US GIS 46.04 $3,536.06
GENUINE PARTS CO US GPC 14.31 $2,232.91
GETTY REALTY CORP US GTY 130.13 $3,914.28
GILEAD SCIENCES INC US GILD 82.56 $5,240.13
GRAPHIC PACKAGING HOLDING CO US GPK 3,612.25 $80,444.88
GREENIDGE GEN HLD INC US 178.91 $2,506.50
GRUPO AEROPORTUARIO CEN-ADR MX OMAB 879.86 $45,990.18
GRUPO AEROPORTUARIO PAC-ADR MX PAC 350.92 $50,031.00
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 240.37 $50,830.59
AIRBUS SE FR AIR FP 83.51 $8,183.20
ADIDAS AG DE ADS GR 108.29 $16,057.85
HCA INC 4.12500 06/15/2029 US 14,733.58 $13,687.96
HDFC BANK LTD-ADR IN HDB 2,824.74 $172,450.59
L'OREAL FR OR FP 11.05 $3,795.12
HEALTHCARE REALTY TRUST INC US HR 329.82 $8,021.27
HEINEKEN NV-SPN ADR NL HEINY 2,532.81 $113,773.74
HESKA CORP US HSKA 814.35 $74,162.50
HOME DEPOT INC US HD 40.25 $11,610.13
HONEYWELL INTERNATIONAL INC US HON 36.15 $6,844.98
HUMANA INC US HUM 201.96 $97,298.03
IIP OPERATING PARTNER 5.50000 05/25/2026 US 9,471.59 $8,436.69
IDEXX LABORATORIES INC US IDXX 400.65 $139,273.33
KERRY GROUP PLC-A IE KYGA ID 69.3 $7,146.38
ILLINOIS TOOL WKS INC US ITW 20.63 $4,018.76
INDEPENDENCE REALTY TRUST IN US IRT 146.23 $2,844.19
INSPERITY INC US NSP 1,288.66 $140,489.96
INTEL CORP US INTC 196.59 $6,275.09
INTERCONTINENTALEXCHANGE INC US ICE 1,418.11 $143,016.12
INTERNATIONAL FLVRS & FRAGRANCES US IFF 20.52 $2,267.25
INTUITIVE SURGICAL INC US ISRG 567.19 $116,693.73
INVITATION HOMES INC US INVH 309.19 $11,217.59
JP MORGAN CHASE & CO US JPM 1,070.03 $121,694.10
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 26,836.17 $26,103.76
JOHNSON & JOHNSON US JNJ 1,962.62 $316,648.85
KEYCORP US KEY 67.67 $1,197.07
KROGER CO US KR 56.88 $2,726.93
L3HARRIS TECHNOLOGIES INC US LHX 527.78 $120,433.65
BEIERSDORF AG DE BEI GR 168.23 $16,980.73
LENNAR CORP US LEN 19.94 $1,544.58
LIFE STORAGE INC US LSI 59.41 $7,559.66
LOCKHEED MARTIN CORP US LMT 14.47 $6,079.19
LULULEMON - ADR CA LULU 875.65 $262,659.48
MAGALLANES INC 4.05400 03/15/2029 US 25,257.57 $22,988.88
MARATHON PETROLEUM CORP US MPC 28.89 $2,910.50
MARRIOTT VACATIONS WORLD US VAC 27.2 $3,874.47
MASTERCARD INC-CLASS A US MA 1,138.12 $369,170.88
MCDONALDS CORP US MCD 24.99 $6,305.60
MERCADOLIBRE INC BR MELI 121.6 $104,015.77
MERCK & CO INC US MRK 116.82 $9,971.44
MICROSOFT CORP US MSFT 1,836.44 $480,172.86
MICROCHIP TECHNOLOGY INC US MCHP 32.73 $2,135.61
MID-AMERICA APARTMENT COMM US MAA 49.3 $8,168.34
MONDELEZ INTERNATIONAL INC US MDLZ 5,243.52 $324,364.40
MOODY'S CORPORATION US MCO 773.46 $220,064.97
MOTOROLA SOLUTIONS INC US MSI 12.84 $3,125.21
NAVIENT CORP 6.75000 06/25/2025 US 9,734.69 $9,398.02
NESTLE S.A. - ADR CH NSRGY 1,873.8 $219,346.55
NETAPP INC US NTAP 23.05 $1,662.42
KEYENCE CORP JP 6861 JP 31.57 $11,854.45
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 4,998.89 $4,833.19
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 11,050.19 $9,588.90
NEWMONT GOLDCORP CORP US NEM 894.07 $36,978.54
NIKE INC CLASS B US NKE 1,027.56 $109,383.99
NORFOLK SOUTHN CORP US NSC 496.78 $120,783.29
NIKON CORP JP 7731 JP 620.92 $7,087.89
NORTHROP GRUMMAN CORP US NOC 273.41 $130,688.77
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 7,629.89 $0.76
NOVARTIS AG- REG CH NVS 1,862.59 $149,975.58
NUCOR CORP US NUE 19.05 $2,532.30
NVIDIA CORP US NVDA 315.98 $47,694.43
OKTA INC US OKTA 871.18 $79,625.46
OMNICOM GROUP US OMC 21.52 $1,439.79
SONY CORP FIRST SECTION JP 6758 JP 131.55 $10,458.65
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 10,523.99 $9,416.28
PPG INDUSTRIES INC US PPG 13.47 $1,710.51
PACKAGING CORP OF AMERICA US PKG 10.42 $1,426.53
PARKER HANNIFIN CORP US PH 7.52 $1,994.03
DEUTSCHE BOERSE AG DE DB1 GR 86.14 $14,563.88
PAYPAL HOLDINGS INC US PYPL 2,633.31 $246,056.68
PELORUS FUND REIT 7.00000 09/30/2026 US 9,997.79 $9,308.42
NESTLE SA-REGISTERED CH NESN SW 222.42 $26,028.77
PEPSICO INC 3.90000 07/18/2032 US 19,469.38 $19,125.75
PFIZER INC US PFE 165.54 $7,487.48
PIONEER NATURAL RESOURCES CO US PXD 11.68 $2,958.02
POPULAR INC 6.12500 09/14/2023 PR 8,419.19 $8,527.01
PROCTER & GAMBLE CO US PG 89.4 $12,332.01
PROLOGIS US PLD 260.94 $32,489.92
PUBLIC STORAGE INC US PSA 45.67 $15,110.36
QUALCOMM INC US QCOM 55.67 $7,363.72
QUALCOMM INC 4.25000 05/20/2032 US 21,047.97 $21,298.03
QUEST DIAGNOSTICS INC US DGX 13.31 $1,668.23
RADIUS GLOBAL INFRASTRUCTURE US RADI 938.21 $12,919.20
REGIONS FINANCIAL CORP. US RF 91.77 $1,988.64
REPUBLIC SERVICES INC US RSG 23.99 $3,424.52
RESTAURANT BRANDS INTERN CA QSR 144.92 $8,550.00
REXFORD INDUSTRIAL REALITY IN US REXR 157.12 $9,774.63
GETINGE AB-B SHS SE GETIB SS 646.12 $11,967.15
ROSS STORES INC US ROST 21.21 $1,829.43
HEINEKEN NV NL HEIA NA 158.6 $14,254.50
RYANAIR HOLDINGS - ADR IE RYAAY 1,748.03 $127,099.57
S&P GLOBAL INC US SPGI 428.12 $150,773.82
SBA COMMUNICATIONS CORP US SBAC 855.65 $278,301.07
NAVIENT CORP 5.50000 01/25/2023 US 4,735.79 $4,713.64
SALESFORCE INC US CRM 2,002.35 $312,606.33
SEA LTD - ADR SG SE 2,412.2 $149,556.59
SEAGEN INC US SGEN 513.31 $79,198.21
SERVICENOW INC US NOW 674.22 $293,029.17
SHOPIFY INC CA SHOP 168.8 $5,342.67
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 33,150.56 $27,756.29
SKYWORKS SOLUTIONS INC US SWKS 11.58 $1,140.85
JM SMUCKER CO/THE-NEW COM WI US SJM 11.79 $1,650.04
SNOWFLAKE INC-CLASS A US SNOW 1,291.08 $233,621.43
SONY CORP SPONSORED ADR JP SONY 2,304.33 $182,848.76
SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 19,469.38 $19,829.90
ONEMAIN FINANCE CORP 5.62500 03/15/2023 US 4,472.69 $4,450.36
STANLEY BLACK & DECKER INC US SWK 10.73 $945.71
STEEL DYNAMICS INC US STLD 19.68 $1,588.56
SUN COMMUNITIES US SUI 81.25 $12,488.20
SYNCHRONOSS TECH US 362.55 $7,874.62
SYNERGY ONE LENDING 5.50000 10/14/2026 US 9,208.49 $7,951.26
TJX COMPANIES INC US TJX 54.57 $3,402.24
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 1,657.21 $138,128.64
TARGET CORP US TGT 19.47 $3,121.72
TENCENT HOLDINGS 3.97500 04/11/2029 KY 42,622.15 $40,171.04
TERRENO REALTY CORP US TRNO 101.87 $6,213.19
TEXAS INSTRUMENTS INC US TXN 33.99 $5,615.90
THERMO FISHER SCIENTIFIC INC US TMO 314.51 $171,508.24
3M CO US MMM 34.47 $4,285.85
TRACTOR SUPPLY COMPANY US TSCO 8.37 $1,549.07
TRAVELLERS COS INC US TRV 17.68 $2,857.84
TYSON FOODS INC -CL A US TSN 29.26 $2,205.37
UDR INC US UDR 250.73 $11,250.43
U.S. BANCORP US USB 93.35 $4,257.59
UBISOFT ENTERTAIN-UNSPON ADR FR UBSFY 10,369.86 $95,319.79
UNILEVER PLC - ADR GB UL 4,823.72 $218,948.75
UNION PAC CORP US UNP 32.1 $7,206.36
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 11,505.82 $9,692.79
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 1,253.17 $1,168.23
UNITED PARCEL SERVICE US UPS 516.52 $100,467.78
US TREASURY N/B 3.00000 05/15/2047 US 405,173.51 $369,847.44
US TREASURY N/B 3.12500 11/15/2028 US 691,425.96 $684,241.62
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 408,593.81 $404,029.05
UNITEDHEALTH GROUP INC US UNH 200.75 $104,252.93
UNIVERSAL DISPLAY CORP US OLED 1,191.32 $133,105.67
VF CORP US VFC 28.05 $1,162.52
VENTAS INC US VTR 94.29 $4,512.96
VERTEX PHARMACEUTICALS INC US VRTX 414.28 $116,726.62
PARAMOUNT GLOBAL CLASS B US PARA 46.25 $1,081.86
VISA INC - CLASS A SHARES US V 1,440.21 $286,183.66
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 4,735.79 $4,566.92
VISTRA OPERATIONS 4.87500 05/13/2024 US 17,890.78 $17,686.30
WAL MART STORES US WMT 103.5 $13,719.38
WALGREENS BOOTS ALLIANCE INC US WBA 51.51 $1,806.11
WASTE MANAGEMENT INC US WM 26.84 $4,536.12
WELLTOWER INC. US WELL 109.66 $8,405.43
ZOETIS INC US ZTS 343.71 $53,801.46
ADMIRAL GROUP PLC GB ADM LN 810.66 $19,941.33
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 394.65 $2,582.81
UBISOFT ENTERTAINMENT FR UBI FP 274.36 $12,652.14
DANONE FR BN FP 129.97 $6,839.13
AIR LIQUIDE FR AI FP 189.75 $23,777.79
BRENNTAG AG DE BNR GR 160.07 $10,495.38
KEYWORDS STUDIOS PLC IE KWS LN 125.5 $3,616.95
S4 CAPITAL PLC GB SFOR LN 6,307.39 $9,694.27
HELIOS TOWERS PLC GB HTWS LN 2,288.28 $3,279.27
AVANZA BANK HOLDING AB SE AZA SS 608.13 $9,747.71
AMERICAN TANKER INC 7.75000 07/02/2025 US 8,945.39 $8,648.20
SOFTWAREONE HOLDING AG CH SWON SW 847.13 $11,137.29
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 279.04 $4,422.84
SEASPAN CORP 6.50000 02/05/2024 MH 10,523.99 $10,444.71
PETROTAL CORP 12.00000 02/16/2024 CA 7,156.31 $7,299.44
FINECOBANK SPA IT FBK IM 1,865.01 $20,165.02
ALLFUNDS GROUP PLC GB ALLFG NA 1,031.82 $8,101.36
ROTORK PLC GB ROR LN 3,555.95 $10,201.34
AUTO TRADER GROUP PLC GB AUTO LN 2,593.58 $19,583.33
CELLNEX TELECOM SA ES CLNX SM 174.33 $6,788.88
ASSA ABLOY AB-B SE ASSAB SS 575.77 $11,661.58
CLEANAWAY WASTE MANAGEMENT AU CWY AU 7,614.63 $14,462.51
INTERMEDIATE CAPITAL GROUP GB ICP LN 725.58 $11,469.74
ADYEN NV NL ADYEN NA 11.16 $17,214.44
BANK OF N.T. BUTTERFIELD&SON BM NTB 227.58 $7,423.70
BUNGE LIMITED US BG 13.94 $1,382.85
EATON CORP PLC US ETN 27.31 $3,731.60
JOHNSON CONTROLS INTERNATIONAL US JCI 51.04 $2,763.38
MEDTRONIC INC IE MDT 3,958.28 $348,012.16
ROYALTY PHARMA PLC- CL A US RPRX 41.2 $1,722.63
STONECO LTD-A BR STNE 799.67 $7,580.83
TRANE TECHNOLOGIES IE TT 13.1 $2,018.68
ALCON INC CH ALC 1,517.72 $99,683.64
CHUBB LTD CH CB 25.15 $4,755.05
GARMIN LTD CH GRMN 17.94 $1,587.81
TE CONNECTIVITY LIMITED CH TEL 17.73 $2,238.07
LYONDELLBASELL INDU-CL A US LYB 19.47 $1,615.96
PLAYA HOTELS AND RESORTS US PLYA 287.78 $1,887.83
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 9,787.31 $9,411.95

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

$16.18

Daily $ Change

-$0.06

Daily % Change

-0.37%

as of 09/27/2022

CUSIP

56382R787

Inception Date

05/14/2015

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

Important Documents

Annual Report
Fact Sheet
Applications & Forms

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

Investment Objective

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

Investment Strategy

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

Over Time: The portfolio’s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. During the target year, the portfolio’s stock exposure can range from 20% - 60%. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 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 08/31/2022

YTD

-17.90%

1 Year

-16.30%

3 Year

9.00%

5 Year

9.14%

10 Year

9.70%

Inception
(01/01/2000)

7.85%

Performance through the inception date of the Retirement Target CIT Class U1 units is based on the historical performance of the CIT’s oldest unit class. Performance through the inception date of the oldest unit class (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 U1 expenses. The Retirement Target CIT Fund will gradually become more conservative over time. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.53%
Net 0.49%*

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

Top Ten Investments

As of 08/31/2022

TREASURY NOTES 6.36%
AMAZON.COM INC 3.21%
MICROSOFT CORP 2.81%
TREASURY BONDS 2.16%
MASTERCARD INC-CLASS A 2.16%
MEDTRONIC INC 2.03%
COCA COLA CO/THE 2.00%
MONDELEZ INTERNATIONAL INC 1.90%
JOHNSON & JOHNSON 1.85%
SALESFORCE INC 1.83%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 08/31/2022

Stocks
83.42%
Bonds
11.15%
Cash
5.43%

Detailed Asset Class Allocation

As of 08/31/2022

International Equities
23.54%
Small Capitalization
2.44%
Mid Capitalization
7.45%
Large Capitalization
49.99%
Long Term Fixed Income
2.48%
Intermediate Term Fixed Income
5.91%
Short Term Fixed Income
2.76%
Cash
5.43%

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

August Fund Holdings

As of 08/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 56.62 $5,811.95
ACTIVISION INC US ATVI 1,345.33 $105,595.26
ADIDAS AG-SPONSORED ADR DE ADDYY 1,768.61 $131,195.39
ADMIRAL GROUP PLC GB AMIGY 3,502.12 $88,183.38
ADYEN NV UNSPON ADR NL ADYEY 9,309.36 $144,388.19
AGREE REALTY CORP US ADC 48.94 $3,685.90
AIR LIQUIDE-ADR FR AIQUY 4,458.33 $111,770.32
AIR LEASE CORP 3.62500 04/01/2027 US 10,523.99 $9,763.62
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 2,340.91 $2,356.85
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 24,731.37 $20,798.48
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 13,154.98 $10,962.45
ALIGN TECHNOLOGY INC US ALGN 479.1 $116,757.77
ALLSTATE CORPORATION US ALL 23.73 $2,859.66
ALPHABET INC-CL A US GOOGL 1,950.09 $211,039.26
AMAZON.COM INC US AMZN 4,337.99 $549,926.68
AMAZON.COM INC 3.30000 04/13/2027 US 23,152.77 $22,653.31
DIAGEO PLC GB DGE LN 408.07 $17,729.07
BAE SYSTEMS PLC GB BA/ LN 1,597.12 $14,383.83
AMERICAN HOMES 4 RENT- A US AMH 244.16 $8,682.21
AMERICAN TOWER REIT INC US AMT 27.05 $6,871.20
ANALOG DEVICES INC US ADI 32.36 $4,903.70
APPLE HOSPITALITY REIT INC US APLE 535.25 $8,515.83
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 2,631 $2,657.10
ARCHER-DANIELS-MIDLAND CO US ADM 37.25 $3,274.33
ARGO BLOCKCHAIN PLC GB 189.43 $3,377.57
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 10,523.99 $9,643.88
AUTOMATIC DATA PROCESSING US ADP 23.15 $5,658.77
AVALONBAY COMMUNITIES INC US AVB 41.57 $8,351.78
BAE SYSTEMS PLC -SPON ADR GB BAESY 3,117.63 $112,546.30
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 9,997.79 $9,842.11
BANK OF AMERICA CORP 2.68700 04/22/2032 US 18,943.18 $15,810.23
BARRICK GOLD CORP CA GOLD 2,937.24 $43,618.09
BAXTER INTERNATIONAL INC US BAX 28.68 $1,647.83
BEST BUY INC US BBY 22.99 $1,625.51
BIOMARIN PHARMACEUTICAL INC US BMRN 1,395.48 $124,476.88
BLACKROCK INC US BLK 269.26 $179,429.65
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 9,208.49 $8,147.67
DECHRA PHARMACEUTICALS PLC GB DPH LN 287.88 $11,642.85
BOSTON SCIENTIFIC CORP US BSX 2,268.45 $91,441.04
BRANDYWINE REALTY TRUST US BDN 304.3 $2,443.54
BRENNTAG AG-UNSP ADR DE BNTGY 5,952.74 $77,921.31
BRISTOL MYERS SQUIBB CO US BMY 107.19 $7,225.46
BROADRIDGE FINANCIAL SOLUTIONS US BR 11.05 $1,891.46
JONAH ENERGY PARENT LLC US 104.77 $5,962.25
CBOE GLOBAL MARKETS INC US CBOE 742.47 $87,588.87
CDW CORP/DE US CDW 479.32 $81,819.07
C.H. ROBINSON WORLDWIDE INC US CHRW 15.05 $1,717.88
CVS HEALTH CORP US CVS 1,296.34 $127,236.24
COTERRA ENERGY INC US CTRA 52.3 $1,616.72
CAMDEN PROPERTY TRUST US CPT 46.67 $5,998.06
CAMECO CORP CA CCJ 230.32 $6,713.75
CAMPBELL SOUP CO US CPB 32.99 $1,662.17
CANADIAN NATIONAL RAILWAY CO CA CNI 2,085.85 $248,028.93
CARETRUST REIT INC US CTRE 328.61 $7,078.29
CATERPILLAR INC US CAT 28.68 $5,297.09
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 7,954.24 $154,550.88
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 22,047.75 $24,080.73
CHARTER COMMUNICATIONS INC-A US CHTR 468.32 $193,241.82
CHEVRON CORP US CVX 52.2 $8,250.57
CINCINNATI FINANCIAL CORP US CINF 15.15 $1,469.38
CISCO SYSTEMS INC US CSCO 181.8 $8,130.18
CITIGROUP INC US C 114.55 $5,591.36
CITIGROUP INC 1.46200 06/09/2027 US 17,890.78 $15,791.55
CLARK CNTY NV 1.51000 11/01/2028 US 18,416.98 $15,768.23
COCA COLA CO/THE US KO 5,540.93 $341,930.91
COGNEX CORP US CGNX 1,301.03 $54,786.29
COLGATE-PALMOLIVE CO US CL 54.88 $4,292.37
COMCAST CORP-CL A US CMCSA 189.48 $6,857.44
COMMUNITY HEALTHCARE TRUST I US CHCT 100.56 $3,709.54
CONAGRA BRAND INC. US CAG 50.09 $1,722.24
CONOCOPHILLIPS US COP 46.67 $5,108.46
CONSTELLATION BRANDS INC-A US STZ 1,141.27 $280,810.42
CONTROLADORA VUELA CIA DE AV MX VLRS 570.14 $5,062.82
COPART INC US CPRT 693.27 $82,949.48
COUSINS PROPERTIES INC US CUZ 223.42 $5,998.94
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 13,154.98 $11,645.93
CUMMINS INC US CMI 12 $2,583.87
KIMBERLY CLARK DE MEXICO S.A.B. MX 11,160.69 $15,151.26
DEUTSCHE BOERSE AG ADR DE DBOEY 7,403.94 $124,778.61
DEVON ENERGY CORPORATION US DVN 36.83 $2,601.21
DIAMONDBACK ENERGY INC US FANG 11.05 $1,472.77
DIGITAL REALTY TRUST INC US DLR 84.24 $10,415.15
DOLLAR GENERAL CORP US DG 645.86 $153,339.39
DOLLAR TREE STORES INC US DLTR 1,351.86 $183,420.20
DOMINO'S PIZZA US DPZ 307.77 $114,448.84
DOUBLEVERIFY HOLDINGS INC US DV 5,819.61 $150,436.84
DOW INC US DOW 38.25 $1,950.99
DREYFUS GVT CSH MANAGEMENT US 983,587.63 $983,587.63
DUKE RLTY INVTS INC US DRE 97.93 $5,762.93
EOG RESOURCES INC US EOG 26.36 $3,197.78
EAST WEST BANCORP INC US EWBC 1,774.71 $128,081.01
EASTMAN CHEM CO US EMN 14.1 $1,283.30
EBAY INC US EBAY 35.2 $1,553.50
ELECTRONIC ARTS US EA 1,455.57 $184,668.51
EMERSON ELEC CO US EMR 40.41 $3,303.29
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 24,205.17 $24,466.67
EQUINIX INC US EQIX 351.5 $231,066.33
EQUITY LIFESTYLE PROPERTIES US ELS 172.28 $12,076.66
ESSEX PROPERTY TRUST INC US ESS 25.68 $6,806.35
EVERGY INC US EVRG 1,888.48 $129,417.32
EXPEDIA GROUP INC 3.25000 02/15/2030 US 10,523.99 $9,106.83
EXTRA SPACE STORAGE INC US EXR 20.84 $4,141.04
FMC CORP US FMC 1,580.55 $170,825.31
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 9,208.49 $9,242.24
META PLATFORMS INC US META 1,554.66 $253,300.11
FEDEX CORPORATION US FDX 403.23 $85,004.19
FIFTH THIRD BANCORP US FITB 63.88 $2,181.52
GENERAL DYNAMICS CORP US GD 18.21 $4,168.01
GENERAL MLS INC US GIS 46.04 $3,536.06
GENUINE PARTS CO US GPC 14.31 $2,232.91
GETTY REALTY CORP US GTY 130.13 $3,914.28
GILEAD SCIENCES INC US GILD 82.56 $5,240.13
GRAPHIC PACKAGING HOLDING CO US GPK 3,612.25 $80,444.88
GREENIDGE GEN HLD INC US 178.91 $2,506.50
GRUPO AEROPORTUARIO CEN-ADR MX OMAB 879.86 $45,990.18
GRUPO AEROPORTUARIO PAC-ADR MX PAC 350.92 $50,031.00
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 240.37 $50,830.59
AIRBUS SE FR AIR FP 83.51 $8,183.20
ADIDAS AG DE ADS GR 108.29 $16,057.85
HCA INC 4.12500 06/15/2029 US 14,733.58 $13,687.96
HDFC BANK LTD-ADR IN HDB 2,824.74 $172,450.59
L'OREAL FR OR FP 11.05 $3,795.12
HEALTHCARE REALTY TRUST INC US HR 329.82 $8,021.27
HEINEKEN NV-SPN ADR NL HEINY 2,532.81 $113,773.74
HESKA CORP US HSKA 814.35 $74,162.50
HOME DEPOT INC US HD 40.25 $11,610.13
HONEYWELL INTERNATIONAL INC US HON 36.15 $6,844.98
HUMANA INC US HUM 201.96 $97,298.03
IIP OPERATING PARTNER 5.50000 05/25/2026 US 9,471.59 $8,436.69
IDEXX LABORATORIES INC US IDXX 400.65 $139,273.33
KERRY GROUP PLC-A IE KYGA ID 69.3 $7,146.38
ILLINOIS TOOL WKS INC US ITW 20.63 $4,018.76
INDEPENDENCE REALTY TRUST IN US IRT 146.23 $2,844.19
INSPERITY INC US NSP 1,288.66 $140,489.96
INTEL CORP US INTC 196.59 $6,275.09
INTERCONTINENTALEXCHANGE INC US ICE 1,418.11 $143,016.12
INTERNATIONAL FLVRS & FRAGRANCES US IFF 20.52 $2,267.25
INTUITIVE SURGICAL INC US ISRG 567.19 $116,693.73
INVITATION HOMES INC US INVH 309.19 $11,217.59
JP MORGAN CHASE & CO US JPM 1,070.03 $121,694.10
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 26,836.17 $26,103.76
JOHNSON & JOHNSON US JNJ 1,962.62 $316,648.85
KEYCORP US KEY 67.67 $1,197.07
KROGER CO US KR 56.88 $2,726.93
L3HARRIS TECHNOLOGIES INC US LHX 527.78 $120,433.65
BEIERSDORF AG DE BEI GR 168.23 $16,980.73
LENNAR CORP US LEN 19.94 $1,544.58
LIFE STORAGE INC US LSI 59.41 $7,559.66
LOCKHEED MARTIN CORP US LMT 14.47 $6,079.19
LULULEMON - ADR CA LULU 875.65 $262,659.48
MAGALLANES INC 4.05400 03/15/2029 US 25,257.57 $22,988.88
MARATHON PETROLEUM CORP US MPC 28.89 $2,910.50
MARRIOTT VACATIONS WORLD US VAC 27.2 $3,874.47
MASTERCARD INC-CLASS A US MA 1,138.12 $369,170.88
MCDONALDS CORP US MCD 24.99 $6,305.60
MERCADOLIBRE INC BR MELI 121.6 $104,015.77
MERCK & CO INC US MRK 116.82 $9,971.44
MICROSOFT CORP US MSFT 1,836.44 $480,172.86
MICROCHIP TECHNOLOGY INC US MCHP 32.73 $2,135.61
MID-AMERICA APARTMENT COMM US MAA 49.3 $8,168.34
MONDELEZ INTERNATIONAL INC US MDLZ 5,243.52 $324,364.40
MOODY'S CORPORATION US MCO 773.46 $220,064.97
MOTOROLA SOLUTIONS INC US MSI 12.84 $3,125.21
NAVIENT CORP 6.75000 06/25/2025 US 9,734.69 $9,398.02
NESTLE S.A. - ADR CH NSRGY 1,873.8 $219,346.55
NETAPP INC US NTAP 23.05 $1,662.42
KEYENCE CORP JP 6861 JP 31.57 $11,854.45
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 4,998.89 $4,833.19
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 11,050.19 $9,588.90
NEWMONT GOLDCORP CORP US NEM 894.07 $36,978.54
NIKE INC CLASS B US NKE 1,027.56 $109,383.99
NORFOLK SOUTHN CORP US NSC 496.78 $120,783.29
NIKON CORP JP 7731 JP 620.92 $7,087.89
NORTHROP GRUMMAN CORP US NOC 273.41 $130,688.77
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 7,629.89 $0.76
NOVARTIS AG- REG CH NVS 1,862.59 $149,975.58
NUCOR CORP US NUE 19.05 $2,532.30
NVIDIA CORP US NVDA 315.98 $47,694.43
OKTA INC US OKTA 871.18 $79,625.46
OMNICOM GROUP US OMC 21.52 $1,439.79
SONY CORP FIRST SECTION JP 6758 JP 131.55 $10,458.65
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 10,523.99 $9,416.28
PPG INDUSTRIES INC US PPG 13.47 $1,710.51
PACKAGING CORP OF AMERICA US PKG 10.42 $1,426.53
PARKER HANNIFIN CORP US PH 7.52 $1,994.03
DEUTSCHE BOERSE AG DE DB1 GR 86.14 $14,563.88
PAYPAL HOLDINGS INC US PYPL 2,633.31 $246,056.68
PELORUS FUND REIT 7.00000 09/30/2026 US 9,997.79 $9,308.42
NESTLE SA-REGISTERED CH NESN SW 222.42 $26,028.77
PEPSICO INC 3.90000 07/18/2032 US 19,469.38 $19,125.75
PFIZER INC US PFE 165.54 $7,487.48
PIONEER NATURAL RESOURCES CO US PXD 11.68 $2,958.02
POPULAR INC 6.12500 09/14/2023 PR 8,419.19 $8,527.01
PROCTER & GAMBLE CO US PG 89.4 $12,332.01
PROLOGIS US PLD 260.94 $32,489.92
PUBLIC STORAGE INC US PSA 45.67 $15,110.36
QUALCOMM INC US QCOM 55.67 $7,363.72
QUALCOMM INC 4.25000 05/20/2032 US 21,047.97 $21,298.03
QUEST DIAGNOSTICS INC US DGX 13.31 $1,668.23
RADIUS GLOBAL INFRASTRUCTURE US RADI 938.21 $12,919.20
REGIONS FINANCIAL CORP. US RF 91.77 $1,988.64
REPUBLIC SERVICES INC US RSG 23.99 $3,424.52
RESTAURANT BRANDS INTERN CA QSR 144.92 $8,550.00
REXFORD INDUSTRIAL REALITY IN US REXR 157.12 $9,774.63
GETINGE AB-B SHS SE GETIB SS 646.12 $11,967.15
ROSS STORES INC US ROST 21.21 $1,829.43
HEINEKEN NV NL HEIA NA 158.6 $14,254.50
RYANAIR HOLDINGS - ADR IE RYAAY 1,748.03 $127,099.57
S&P GLOBAL INC US SPGI 428.12 $150,773.82
SBA COMMUNICATIONS CORP US SBAC 855.65 $278,301.07
NAVIENT CORP 5.50000 01/25/2023 US 4,735.79 $4,713.64
SALESFORCE INC US CRM 2,002.35 $312,606.33
SEA LTD - ADR SG SE 2,412.2 $149,556.59
SEAGEN INC US SGEN 513.31 $79,198.21
SERVICENOW INC US NOW 674.22 $293,029.17
SHOPIFY INC CA SHOP 168.8 $5,342.67
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 33,150.56 $27,756.29
SKYWORKS SOLUTIONS INC US SWKS 11.58 $1,140.85
JM SMUCKER CO/THE-NEW COM WI US SJM 11.79 $1,650.04
SNOWFLAKE INC-CLASS A US SNOW 1,291.08 $233,621.43
SONY CORP SPONSORED ADR JP SONY 2,304.33 $182,848.76
SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 19,469.38 $19,829.90
ONEMAIN FINANCE CORP 5.62500 03/15/2023 US 4,472.69 $4,450.36
STANLEY BLACK & DECKER INC US SWK 10.73 $945.71
STEEL DYNAMICS INC US STLD 19.68 $1,588.56
SUN COMMUNITIES US SUI 81.25 $12,488.20
SYNCHRONOSS TECH US 362.55 $7,874.62
SYNERGY ONE LENDING 5.50000 10/14/2026 US 9,208.49 $7,951.26
TJX COMPANIES INC US TJX 54.57 $3,402.24
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 1,657.21 $138,128.64
TARGET CORP US TGT 19.47 $3,121.72
TENCENT HOLDINGS 3.97500 04/11/2029 KY 42,622.15 $40,171.04
TERRENO REALTY CORP US TRNO 101.87 $6,213.19
TEXAS INSTRUMENTS INC US TXN 33.99 $5,615.90
THERMO FISHER SCIENTIFIC INC US TMO 314.51 $171,508.24
3M CO US MMM 34.47 $4,285.85
TRACTOR SUPPLY COMPANY US TSCO 8.37 $1,549.07
TRAVELLERS COS INC US TRV 17.68 $2,857.84
TYSON FOODS INC -CL A US TSN 29.26 $2,205.37
UDR INC US UDR 250.73 $11,250.43
U.S. BANCORP US USB 93.35 $4,257.59
UBISOFT ENTERTAIN-UNSPON ADR FR UBSFY 10,369.86 $95,319.79
UNILEVER PLC - ADR GB UL 4,823.72 $218,948.75
UNION PAC CORP US UNP 32.1 $7,206.36
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 11,505.82 $9,692.79
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 1,253.17 $1,168.23
UNITED PARCEL SERVICE US UPS 516.52 $100,467.78
US TREASURY N/B 3.00000 05/15/2047 US 405,173.51 $369,847.44
US TREASURY N/B 3.12500 11/15/2028 US 691,425.96 $684,241.62
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 408,593.81 $404,029.05
UNITEDHEALTH GROUP INC US UNH 200.75 $104,252.93
UNIVERSAL DISPLAY CORP US OLED 1,191.32 $133,105.67
VF CORP US VFC 28.05 $1,162.52
VENTAS INC US VTR 94.29 $4,512.96
VERTEX PHARMACEUTICALS INC US VRTX 414.28 $116,726.62
PARAMOUNT GLOBAL CLASS B US PARA 46.25 $1,081.86
VISA INC - CLASS A SHARES US V 1,440.21 $286,183.66
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 4,735.79 $4,566.92
VISTRA OPERATIONS 4.87500 05/13/2024 US 17,890.78 $17,686.30
WAL MART STORES US WMT 103.5 $13,719.38
WALGREENS BOOTS ALLIANCE INC US WBA 51.51 $1,806.11
WASTE MANAGEMENT INC US WM 26.84 $4,536.12
WELLTOWER INC. US WELL 109.66 $8,405.43
ZOETIS INC US ZTS 343.71 $53,801.46
ADMIRAL GROUP PLC GB ADM LN 810.66 $19,941.33
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 394.65 $2,582.81
UBISOFT ENTERTAINMENT FR UBI FP 274.36 $12,652.14
DANONE FR BN FP 129.97 $6,839.13
AIR LIQUIDE FR AI FP 189.75 $23,777.79
BRENNTAG AG DE BNR GR 160.07 $10,495.38
KEYWORDS STUDIOS PLC IE KWS LN 125.5 $3,616.95
S4 CAPITAL PLC GB SFOR LN 6,307.39 $9,694.27
HELIOS TOWERS PLC GB HTWS LN 2,288.28 $3,279.27
AVANZA BANK HOLDING AB SE AZA SS 608.13 $9,747.71
AMERICAN TANKER INC 7.75000 07/02/2025 US 8,945.39 $8,648.20
SOFTWAREONE HOLDING AG CH SWON SW 847.13 $11,137.29
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 279.04 $4,422.84
SEASPAN CORP 6.50000 02/05/2024 MH 10,523.99 $10,444.71
PETROTAL CORP 12.00000 02/16/2024 CA 7,156.31 $7,299.44
FINECOBANK SPA IT FBK IM 1,865.01 $20,165.02
ALLFUNDS GROUP PLC GB ALLFG NA 1,031.82 $8,101.36
ROTORK PLC GB ROR LN 3,555.95 $10,201.34
AUTO TRADER GROUP PLC GB AUTO LN 2,593.58 $19,583.33
CELLNEX TELECOM SA ES CLNX SM 174.33 $6,788.88
ASSA ABLOY AB-B SE ASSAB SS 575.77 $11,661.58
CLEANAWAY WASTE MANAGEMENT AU CWY AU 7,614.63 $14,462.51
INTERMEDIATE CAPITAL GROUP GB ICP LN 725.58 $11,469.74
ADYEN NV NL ADYEN NA 11.16 $17,214.44
BANK OF N.T. BUTTERFIELD&SON BM NTB 227.58 $7,423.70
BUNGE LIMITED US BG 13.94 $1,382.85
EATON CORP PLC US ETN 27.31 $3,731.60
JOHNSON CONTROLS INTERNATIONAL US JCI 51.04 $2,763.38
MEDTRONIC INC IE MDT 3,958.28 $348,012.16
ROYALTY PHARMA PLC- CL A US RPRX 41.2 $1,722.63
STONECO LTD-A BR STNE 799.67 $7,580.83
TRANE TECHNOLOGIES IE TT 13.1 $2,018.68
ALCON INC CH ALC 1,517.72 $99,683.64
CHUBB LTD CH CB 25.15 $4,755.05
GARMIN LTD CH GRMN 17.94 $1,587.81
TE CONNECTIVITY LIMITED CH TEL 17.73 $2,238.07
LYONDELLBASELL INDU-CL A US LYB 19.47 $1,615.96
PLAYA HOTELS AND RESORTS US PLYA 287.78 $1,887.83
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 9,787.31 $9,411.95

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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