Investment Objective

To provide capital growth and manage risk for investors planning to retire (or meet another investment goal) 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 2060
  • 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

$17.58

Daily $ Change

-$0.06

Daily % Change

-0.34%

as of 09/27/2022

CUSIP

302028824

Inception Date

10/06/2015

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 08/31/2022

YTD

-17.99%

1 Year

-16.46%

3 Year

8.88%

5 Year

9.00%

10 Year

9.63%

Inception
(01/01/2000)

7.70%

Performance through the inception date of the Retirement Target CIT Class I units is based on the historical performance of the CIT’s oldest unit class. Performance through the inception date of the oldest unit class (09/18/2015) is not the past performance of the Retirement Target CIT Fund and is based on historical performance data of the Manning & Napier Pro-Mix® CIT Fund(s) that would have been held according to the Retirement Target CIT Fund’s glide path. Returns are net of the Class I expenses. The Retirement Target CIT Fund will gradually become more conservative over time. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.77%
Net 0.69%*

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

Top Ten Investments

As of 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 43.33 $4,447.53
ACTIVISION INC US ATVI 1,029.5 $80,805.60
ADIDAS AG-SPONSORED ADR DE ADDYY 1,353.41 $100,395.82
ADMIRAL GROUP PLC GB AMIGY 2,679.96 $67,481.35
ADYEN NV UNSPON ADR NL ADYEY 7,123.89 $110,491.46
AGREE REALTY CORP US ADC 37.45 $2,820.59
AIR LIQUIDE-ADR FR AIQUY 3,411.69 $85,531.00
AIR LEASE CORP 3.62500 04/01/2027 US 8,053.36 $7,471.50
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 1,791.36 $1,803.55
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 18,925.41 $15,915.80
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 10,066.71 $8,388.89
ALIGN TECHNOLOGY INC US ALGN 366.63 $89,347.59
ALLSTATE CORPORATION US ALL 18.16 $2,188.32
ALPHABET INC-CL A US GOOGL 1,492.29 $161,495.46
AMAZON.COM INC US AMZN 3,319.6 $420,825.30
AMAZON.COM INC 3.30000 04/13/2027 US 17,717.4 $17,335.20
DIAGEO PLC GB DGE LN 312.27 $13,566.97
BAE SYSTEMS PLC GB BA/ LN 1,222.18 $11,007.06
AMERICAN HOMES 4 RENT- A US AMH 186.84 $6,643.96
AMERICAN TOWER REIT INC US AMT 20.7 $5,258.11
ANALOG DEVICES INC US ADI 24.76 $3,752.50
APPLE HOSPITALITY REIT INC US APLE 409.59 $6,516.64
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 2,013.34 $2,033.32
ARCHER-DANIELS-MIDLAND CO US ADM 28.51 $2,505.65
ARGO BLOCKCHAIN PLC GB 144.96 $2,584.65
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 8,053.36 $7,379.87
AUTOMATIC DATA PROCESSING US ADP 17.72 $4,330.31
AVALONBAY COMMUNITIES INC US AVB 31.81 $6,391.11
BAE SYSTEMS PLC -SPON ADR GB BAESY 2,385.73 $86,124.81
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 7,650.7 $7,531.56
BANK OF AMERICA CORP 2.68700 04/22/2032 US 14,496.06 $12,098.60
BARRICK GOLD CORP CA GOLD 2,247.69 $33,378.26
BAXTER INTERNATIONAL INC US BAX 21.95 $1,260.98
BEST BUY INC US BBY 17.6 $1,243.90
BIOMARIN PHARMACEUTICAL INC US BMRN 1,067.88 $95,254.55
BLACKROCK INC US BLK 206.05 $137,306.55
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 7,046.69 $6,234.92
DECHRA PHARMACEUTICALS PLC GB DPH LN 220.3 $8,909.57
BOSTON SCIENTIFIC CORP US BSX 1,735.9 $69,974.24
BRANDYWINE REALTY TRUST US BDN 232.86 $1,869.89
BRENNTAG AG-UNSP ADR DE BNTGY 4,555.26 $59,628.42
BRISTOL MYERS SQUIBB CO US BMY 82.02 $5,529.21
BROADRIDGE FINANCIAL SOLUTIONS US BR 8.46 $1,447.42
JONAH ENERGY PARENT LLC US 80.17 $4,562.55
CBOE GLOBAL MARKETS INC US CBOE 568.16 $67,026.41
CDW CORP/DE US CDW 366.79 $62,611.14
C.H. ROBINSON WORLDWIDE INC US CHRW 11.52 $1,314.59
CVS HEALTH CORP US CVS 992.01 $97,366.12
COTERRA ENERGY INC US CTRA 40.03 $1,237.18
CAMDEN PROPERTY TRUST US CPT 35.72 $4,589.95
CAMECO CORP CA CCJ 176.25 $5,137.63
CAMPBELL SOUP CO US CPB 25.25 $1,271.96
CANADIAN NATIONAL RAILWAY CO CA CNI 1,596.18 $189,801.39
CARETRUST REIT INC US CTRE 251.47 $5,416.58
CATERPILLAR INC US CAT 21.95 $4,053.54
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 6,086.89 $118,268.35
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 16,871.8 $18,427.51
CHARTER COMMUNICATIONS INC-A US CHTR 358.37 $147,876.16
CHEVRON CORP US CVX 39.94 $6,313.66
CINCINNATI FINANCIAL CORP US CINF 11.6 $1,124.43
CISCO SYSTEMS INC US CSCO 139.12 $6,221.53
CITIGROUP INC US C 87.66 $4,278.73
CITIGROUP INC 1.46200 06/09/2027 US 13,690.72 $12,084.31
CLARK CNTY NV 1.51000 11/01/2028 US 14,093.39 $12,066.46
COCA COLA CO/THE US KO 4,240.14 $261,658.84
COGNEX CORP US CGNX 995.6 $41,924.60
COLGATE-PALMOLIVE CO US CL 42 $3,284.69
COMCAST CORP-CL A US CMCSA 145 $5,247.58
COMMUNITY HEALTHCARE TRUST I US CHCT 76.95 $2,838.68
CONAGRA BRAND INC. US CAG 38.33 $1,317.92
CONOCOPHILLIPS US COP 35.72 $3,909.19
CONSTELLATION BRANDS INC-A US STZ 873.35 $214,887.06
CONTROLADORA VUELA CIA DE AV MX VLRS 436.29 $3,874.26
COPART INC US CPRT 530.52 $63,476.17
COUSINS PROPERTIES INC US CUZ 170.97 $4,590.62
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 10,066.71 $8,911.92
CUMMINS INC US CMI 9.18 $1,977.28
KIMBERLY CLARK DE MEXICO S.A.B. MX 8,540.59 $11,594.33
DEUTSCHE BOERSE AG ADR DE DBOEY 5,665.78 $95,485.45
DEVON ENERGY CORPORATION US DVN 28.19 $1,990.55
DIAMONDBACK ENERGY INC US FANG 8.46 $1,127.02
DIGITAL REALTY TRUST INC US DLR 64.47 $7,970.08
DOLLAR GENERAL CORP US DG 494.24 $117,341.27
DOLLAR TREE STORES INC US DLTR 1,034.49 $140,360.27
DOMINO'S PIZZA US DPZ 235.52 $87,580.71
DOUBLEVERIFY HOLDINGS INC US DV 4,453.39 $115,120.13
DOW INC US DOW 29.27 $1,492.97
DREYFUS GVT CSH MANAGEMENT US 752,679.53 $752,679.53
DUKE RLTY INVTS INC US DRE 74.94 $4,410.02
EOG RESOURCES INC US EOG 20.17 $2,447.07
EAST WEST BANCORP INC US EWBC 1,358.08 $98,012.57
EASTMAN CHEM CO US EMN 10.79 $982.03
EBAY INC US EBAY 26.94 $1,188.80
ELECTRONIC ARTS US EA 1,113.86 $141,315.53
EMERSON ELEC CO US EMR 30.92 $2,527.80
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 18,522.74 $18,722.85
EQUINIX INC US EQIX 268.98 $176,820.95
EQUITY LIFESTYLE PROPERTIES US ELS 131.83 $9,241.53
ESSEX PROPERTY TRUST INC US ESS 19.65 $5,208.48
EVERGY INC US EVRG 1,445.14 $99,035.17
EXPEDIA GROUP INC 3.25000 02/15/2030 US 8,053.36 $6,968.90
EXTRA SPACE STORAGE INC US EXR 15.95 $3,168.88
FMC CORP US FMC 1,209.49 $130,722.17
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 7,046.69 $7,072.52
META PLATFORMS INC US META 1,189.68 $193,835.10
FEDEX CORPORATION US FDX 308.56 $65,048.52
FIFTH THIRD BANCORP US FITB 48.88 $1,669.39
GENERAL DYNAMICS CORP US GD 13.93 $3,189.53
GENERAL MLS INC US GIS 35.23 $2,705.93
GENUINE PARTS CO US GPC 10.95 $1,708.71
GETTY REALTY CORP US GTY 99.58 $2,995.36
GILEAD SCIENCES INC US GILD 63.18 $4,009.95
GRAPHIC PACKAGING HOLDING CO US GPK 2,764.24 $61,559.55
GREENIDGE GEN HLD INC US 136.91 $1,918.07
GRUPO AEROPORTUARIO CEN-ADR MX OMAB 673.3 $35,193.47
GRUPO AEROPORTUARIO PAC-ADR MX PAC 268.54 $38,285.67
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 183.94 $38,897.55
AIRBUS SE FR AIR FP 63.9 $6,262.10
ADIDAS AG DE ADS GR 82.87 $12,288.09
HCA INC 4.12500 06/15/2029 US 11,274.71 $10,474.56
HDFC BANK LTD-ADR IN HDB 2,161.6 $131,965.90
L'OREAL FR OR FP 8.46 $2,904.17
HEALTHCARE REALTY TRUST INC US HR 252.39 $6,138.18
HEINEKEN NV-SPN ADR NL HEINY 1,938.2 $87,064.09
HESKA CORP US HSKA 623.17 $56,752.03
HOME DEPOT INC US HD 30.8 $8,884.52
HONEYWELL INTERNATIONAL INC US HON 27.66 $5,238.05
HUMANA INC US HUM 154.54 $74,456.24
IIP OPERATING PARTNER 5.50000 05/25/2026 US 7,248.03 $6,456.08
IDEXX LABORATORIES INC US IDXX 306.59 $106,577.37
KERRY GROUP PLC-A IE KYGA ID 53.03 $5,468.69
ILLINOIS TOOL WKS INC US ITW 15.78 $3,075.31
INDEPENDENCE REALTY TRUST IN US IRT 111.9 $2,176.48
INSPERITY INC US NSP 986.13 $107,508.38
INTEL CORP US INTC 150.44 $4,801.94
INTERCONTINENTALEXCHANGE INC US ICE 1,085.19 $109,441.50
INTERNATIONAL FLVRS & FRAGRANCES US IFF 15.7 $1,734.98
INTUITIVE SURGICAL INC US ISRG 434.04 $89,298.58
INVITATION HOMES INC US INVH 236.61 $8,584.13
JP MORGAN CHASE & CO US JPM 818.83 $93,125.06
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 20,536.08 $19,975.62
JOHNSON & JOHNSON US JNJ 1,501.87 $242,312.02
KEYCORP US KEY 51.78 $916.04
KROGER CO US KR 43.53 $2,086.75
L3HARRIS TECHNOLOGIES INC US LHX 403.88 $92,160.52
BEIERSDORF AG DE BEI GR 128.73 $12,994.32
LENNAR CORP US LEN 15.26 $1,181.97
LIFE STORAGE INC US LSI 45.46 $5,784.94
LOCKHEED MARTIN CORP US LMT 11.07 $4,652.04
LULULEMON - ADR CA LULU 670.08 $200,997.26
MAGALLANES INC 4.05400 03/15/2029 US 19,328.08 $17,591.98
MARATHON PETROLEUM CORP US MPC 22.11 $2,227.23
MARRIOTT VACATIONS WORLD US VAC 20.82 $2,964.89
MASTERCARD INC-CLASS A US MA 870.93 $282,503.93
MCDONALDS CORP US MCD 19.13 $4,825.29
MERCADOLIBRE INC BR MELI 93.06 $79,596.92
MERCK & CO INC US MRK 89.39 $7,630.53
MICROSOFT CORP US MSFT 1,405.31 $367,446.96
MICROCHIP TECHNOLOGY INC US MCHP 25.05 $1,634.25
MID-AMERICA APARTMENT COMM US MAA 37.73 $6,250.73
MONDELEZ INTERNATIONAL INC US MDLZ 4,012.55 $248,216.26
MOODY'S CORPORATION US MCO 591.88 $168,402.28
MOTOROLA SOLUTIONS INC US MSI 9.83 $2,391.53
NAVIENT CORP 6.75000 06/25/2025 US 7,449.36 $7,191.73
NESTLE S.A. - ADR CH NSRGY 1,433.9 $167,852.52
NETAPP INC US NTAP 17.64 $1,272.15
KEYENCE CORP JP 6861 JP 24.16 $9,071.49
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 3,825.35 $3,698.55
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 8,456.03 $7,337.80
NEWMONT GOLDCORP CORP US NEM 684.17 $28,297.42
NIKE INC CLASS B US NKE 786.33 $83,704.88
NORFOLK SOUTHN CORP US NSC 380.16 $92,428.08
NIKON CORP JP 7731 JP 475.15 $5,423.93
NORTHROP GRUMMAN CORP US NOC 209.23 $100,008.13
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 5,838.69 $0.58
NOVARTIS AG- REG CH NVS 1,425.32 $114,767.15
NUCOR CORP US NUE 14.58 $1,937.81
NVIDIA CORP US NVDA 241.8 $36,497.63
OKTA INC US OKTA 666.66 $60,932.50
OMNICOM GROUP US OMC 16.47 $1,101.78
SONY CORP FIRST SECTION JP 6758 JP 100.67 $8,003.36
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 8,053.36 $7,205.70
PPG INDUSTRIES INC US PPG 10.31 $1,308.95
PACKAGING CORP OF AMERICA US PKG 7.97 $1,091.64
PARKER HANNIFIN CORP US PH 5.76 $1,525.91
DEUTSCHE BOERSE AG DE DB1 GR 65.92 $11,144.85
PAYPAL HOLDINGS INC US PYPL 2,015.11 $188,292.15
PELORUS FUND REIT 7.00000 09/30/2026 US 7,650.7 $7,123.17
NESTLE SA-REGISTERED CH NESN SW 170.21 $19,918.23
PEPSICO INC 3.90000 07/18/2032 US 14,898.72 $14,635.77
PFIZER INC US PFE 126.68 $5,729.71
PIONEER NATURAL RESOURCES CO US PXD 8.94 $2,263.59
POPULAR INC 6.12500 09/14/2023 PR 6,442.69 $6,525.20
PROCTER & GAMBLE CO US PG 68.41 $9,436.94
PROLOGIS US PLD 199.68 $24,862.55
PUBLIC STORAGE INC US PSA 34.95 $11,563.04
QUALCOMM INC US QCOM 42.6 $5,635.01
QUALCOMM INC 4.25000 05/20/2032 US 16,106.73 $16,298.08
QUEST DIAGNOSTICS INC US DGX 10.19 $1,276.60
RADIUS GLOBAL INFRASTRUCTURE US RADI 717.96 $9,886.27
REGIONS FINANCIAL CORP. US RF 70.23 $1,521.78
REPUBLIC SERVICES INC US RSG 18.36 $2,620.58
RESTAURANT BRANDS INTERN CA QSR 110.89 $6,542.80
REXFORD INDUSTRIAL REALITY IN US REXR 120.24 $7,479.93
GETINGE AB-B SHS SE GETIB SS 494.44 $9,157.73
ROSS STORES INC US ROST 16.23 $1,399.95
HEINEKEN NV NL HEIA NA 121.36 $10,908.10
RYANAIR HOLDINGS - ADR IE RYAAY 1,337.66 $97,261.54
S&P GLOBAL INC US SPGI 327.61 $115,378.00
SBA COMMUNICATIONS CORP US SBAC 654.78 $212,966.81
NAVIENT CORP 5.50000 01/25/2023 US 3,624.01 $3,607.06
SALESFORCE INC US CRM 1,532.27 $239,218.53
SEA LTD - ADR SG SE 1,845.91 $114,446.53
SEAGEN INC US SGEN 392.8 $60,605.55
SERVICENOW INC US NOW 515.94 $224,237.32
SHOPIFY INC CA SHOP 129.18 $4,088.42
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 25,368.1 $21,240.19
SKYWORKS SOLUTIONS INC US SWKS 8.86 $873.02
JM SMUCKER CO/THE-NEW COM WI US SJM 9.02 $1,262.68
SNOWFLAKE INC-CLASS A US SNOW 987.99 $178,776.21
SONY CORP SPONSORED ADR JP SONY 1,763.36 $139,922.99
SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 14,898.72 $15,174.61
ONEMAIN FINANCE CORP 5.62500 03/15/2023 US 3,422.68 $3,405.59
STANLEY BLACK & DECKER INC US SWK 8.21 $723.69
STEEL DYNAMICS INC US STLD 15.06 $1,215.63
SUN COMMUNITIES US SUI 62.17 $9,556.45
SYNCHRONOSS TECH US 277.44 $6,025.96
SYNERGY ONE LENDING 5.50000 10/14/2026 US 7,046.69 $6,084.62
TJX COMPANIES INC US TJX 41.76 $2,603.53
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 1,268.16 $105,701.41
TARGET CORP US TGT 14.9 $2,388.86
TENCENT HOLDINGS 3.97500 04/11/2029 KY 32,616.13 $30,740.45
TERRENO REALTY CORP US TRNO 77.96 $4,754.57
TEXAS INSTRUMENTS INC US TXN 26.01 $4,297.50
THERMO FISHER SCIENTIFIC INC US TMO 240.67 $131,244.78
3M CO US MMM 26.37 $3,279.70
TRACTOR SUPPLY COMPANY US TSCO 6.4 $1,185.41
TRAVELLERS COS INC US TRV 13.53 $2,186.93
TYSON FOODS INC -CL A US TSN 22.39 $1,687.63
UDR INC US UDR 191.87 $8,609.27
U.S. BANCORP US USB 71.43 $3,258.07
UBISOFT ENTERTAIN-UNSPON ADR FR UBSFY 7,935.42 $72,942.41
UNILEVER PLC - ADR GB UL 3,691.3 $167,548.10
UNION PAC CORP US UNP 24.56 $5,514.59
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 8,804.7 $7,417.30
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 958.97 $893.98
UNITED PARCEL SERVICE US UPS 395.26 $76,881.85
US TREASURY N/B 3.00000 05/15/2047 US 310,054.54 $283,021.66
US TREASURY N/B 3.12500 11/15/2028 US 529,106.05 $523,608.31
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 312,671.88 $309,178.75
UNITEDHEALTH GROUP INC US UNH 153.62 $79,778.40
UNIVERSAL DISPLAY CORP US OLED 911.64 $101,857.63
VF CORP US VFC 21.46 $889.61
VENTAS INC US VTR 72.16 $3,453.49
VERTEX PHARMACEUTICALS INC US VRTX 317.02 $89,323.75
PARAMOUNT GLOBAL CLASS B US PARA 35.39 $827.88
VISA INC - CLASS A SHARES US V 1,102.1 $218,998.88
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 3,624.01 $3,494.79
VISTRA OPERATIONS 4.87500 05/13/2024 US 13,690.72 $13,534.25
WAL MART STORES US WMT 79.2 $10,498.60
WALGREENS BOOTS ALLIANCE INC US WBA 39.42 $1,382.11
WASTE MANAGEMENT INC US WM 20.54 $3,471.21
WELLTOWER INC. US WELL 83.92 $6,432.17
ZOETIS INC US ZTS 263.02 $41,170.97
ADMIRAL GROUP PLC GB ADM LN 620.35 $15,259.88
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 302 $1,976.47
UBISOFT ENTERTAINMENT FR UBI FP 209.95 $9,681.91
DANONE FR BN FP 99.46 $5,233.57
AIR LIQUIDE FR AI FP 145.2 $18,195.69
BRENNTAG AG DE BNR GR 122.49 $8,031.47
KEYWORDS STUDIOS PLC IE KWS LN 96.04 $2,767.83
S4 CAPITAL PLC GB SFOR LN 4,826.66 $7,418.43
HELIOS TOWERS PLC GB HTWS LN 1,751.08 $2,509.42
AVANZA BANK HOLDING AB SE AZA SS 465.36 $7,459.33
AMERICAN TANKER INC 7.75000 07/02/2025 US 6,845.36 $6,617.94
SOFTWAREONE HOLDING AG CH SWON SW 648.26 $8,522.69
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 213.54 $3,384.53
SEASPAN CORP 6.50000 02/05/2024 MH 8,053.36 $7,992.70
PETROTAL CORP 12.00000 02/16/2024 CA 5,476.29 $5,585.81
FINECOBANK SPA IT FBK IM 1,427.18 $15,431.06
ALLFUNDS GROUP PLC GB ALLFG NA 789.59 $6,199.48
ROTORK PLC GB ROR LN 2,721.15 $7,806.46
AUTO TRADER GROUP PLC GB AUTO LN 1,984.71 $14,985.92
CELLNEX TELECOM SA ES CLNX SM 133.4 $5,195.12
ASSA ABLOY AB-B SE ASSAB SS 440.6 $8,923.89
CLEANAWAY WASTE MANAGEMENT AU CWY AU 5,827.01 $11,067.28
INTERMEDIATE CAPITAL GROUP GB ICP LN 555.24 $8,777.09
ADYEN NV NL ADYEN NA 8.54 $13,173.16
BANK OF N.T. BUTTERFIELD&SON BM NTB 174.15 $5,680.90
BUNGE LIMITED US BG 10.67 $1,058.21
EATON CORP PLC US ETN 20.9 $2,855.57
JOHNSON CONTROLS INTERNATIONAL US JCI 39.06 $2,114.64
MEDTRONIC INC IE MDT 3,029.03 $266,312.45
ROYALTY PHARMA PLC- CL A US RPRX 31.53 $1,318.22
STONECO LTD-A BR STNE 611.93 $5,801.14
TRANE TECHNOLOGIES IE TT 10.03 $1,544.77
ALCON INC CH ALC 1,161.42 $76,281.80
CHUBB LTD CH CB 19.25 $3,638.75
GARMIN LTD CH GRMN 13.73 $1,215.06
TE CONNECTIVITY LIMITED CH TEL 13.57 $1,712.66
LYONDELLBASELL INDU-CL A US LYB 14.9 $1,236.59
PLAYA HOTELS AND RESORTS US PLYA 220.22 $1,444.64
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 7,489.63 $7,202.39

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

$17.58

Daily $ Change

-$0.06

Daily % Change

-0.34%

as of 09/27/2022

CUSIP

302028824

Inception Date

10/06/2015

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 (or meet another investment goal) 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 2060
  • 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

-17.99%

1 Year

-16.46%

3 Year

8.88%

5 Year

9.00%

10 Year

9.63%

Inception
(01/01/2000)

7.70%

Performance through the inception date of the Retirement Target CIT Class I units is based on the historical performance of the CIT’s oldest unit class. Performance through the inception date of the oldest unit class (09/18/2015) is not the past performance of the Retirement Target CIT Fund and is based on historical performance data of the Manning & Napier Pro-Mix® CIT Fund(s) that would have been held according to the Retirement Target CIT Fund’s glide path. Returns are net of the Class I expenses. The Retirement Target CIT Fund will gradually become more conservative over time. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.77%
Net 0.69%*

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

Top Ten Investments

As of 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 43.33 $4,447.53
ACTIVISION INC US ATVI 1,029.5 $80,805.60
ADIDAS AG-SPONSORED ADR DE ADDYY 1,353.41 $100,395.82
ADMIRAL GROUP PLC GB AMIGY 2,679.96 $67,481.35
ADYEN NV UNSPON ADR NL ADYEY 7,123.89 $110,491.46
AGREE REALTY CORP US ADC 37.45 $2,820.59
AIR LIQUIDE-ADR FR AIQUY 3,411.69 $85,531.00
AIR LEASE CORP 3.62500 04/01/2027 US 8,053.36 $7,471.50
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 1,791.36 $1,803.55
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 18,925.41 $15,915.80
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 10,066.71 $8,388.89
ALIGN TECHNOLOGY INC US ALGN 366.63 $89,347.59
ALLSTATE CORPORATION US ALL 18.16 $2,188.32
ALPHABET INC-CL A US GOOGL 1,492.29 $161,495.46
AMAZON.COM INC US AMZN 3,319.6 $420,825.30
AMAZON.COM INC 3.30000 04/13/2027 US 17,717.4 $17,335.20
DIAGEO PLC GB DGE LN 312.27 $13,566.97
BAE SYSTEMS PLC GB BA/ LN 1,222.18 $11,007.06
AMERICAN HOMES 4 RENT- A US AMH 186.84 $6,643.96
AMERICAN TOWER REIT INC US AMT 20.7 $5,258.11
ANALOG DEVICES INC US ADI 24.76 $3,752.50
APPLE HOSPITALITY REIT INC US APLE 409.59 $6,516.64
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 2,013.34 $2,033.32
ARCHER-DANIELS-MIDLAND CO US ADM 28.51 $2,505.65
ARGO BLOCKCHAIN PLC GB 144.96 $2,584.65
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 8,053.36 $7,379.87
AUTOMATIC DATA PROCESSING US ADP 17.72 $4,330.31
AVALONBAY COMMUNITIES INC US AVB 31.81 $6,391.11
BAE SYSTEMS PLC -SPON ADR GB BAESY 2,385.73 $86,124.81
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 7,650.7 $7,531.56
BANK OF AMERICA CORP 2.68700 04/22/2032 US 14,496.06 $12,098.60
BARRICK GOLD CORP CA GOLD 2,247.69 $33,378.26
BAXTER INTERNATIONAL INC US BAX 21.95 $1,260.98
BEST BUY INC US BBY 17.6 $1,243.90
BIOMARIN PHARMACEUTICAL INC US BMRN 1,067.88 $95,254.55
BLACKROCK INC US BLK 206.05 $137,306.55
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 7,046.69 $6,234.92
DECHRA PHARMACEUTICALS PLC GB DPH LN 220.3 $8,909.57
BOSTON SCIENTIFIC CORP US BSX 1,735.9 $69,974.24
BRANDYWINE REALTY TRUST US BDN 232.86 $1,869.89
BRENNTAG AG-UNSP ADR DE BNTGY 4,555.26 $59,628.42
BRISTOL MYERS SQUIBB CO US BMY 82.02 $5,529.21
BROADRIDGE FINANCIAL SOLUTIONS US BR 8.46 $1,447.42
JONAH ENERGY PARENT LLC US 80.17 $4,562.55
CBOE GLOBAL MARKETS INC US CBOE 568.16 $67,026.41
CDW CORP/DE US CDW 366.79 $62,611.14
C.H. ROBINSON WORLDWIDE INC US CHRW 11.52 $1,314.59
CVS HEALTH CORP US CVS 992.01 $97,366.12
COTERRA ENERGY INC US CTRA 40.03 $1,237.18
CAMDEN PROPERTY TRUST US CPT 35.72 $4,589.95
CAMECO CORP CA CCJ 176.25 $5,137.63
CAMPBELL SOUP CO US CPB 25.25 $1,271.96
CANADIAN NATIONAL RAILWAY CO CA CNI 1,596.18 $189,801.39
CARETRUST REIT INC US CTRE 251.47 $5,416.58
CATERPILLAR INC US CAT 21.95 $4,053.54
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 6,086.89 $118,268.35
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 16,871.8 $18,427.51
CHARTER COMMUNICATIONS INC-A US CHTR 358.37 $147,876.16
CHEVRON CORP US CVX 39.94 $6,313.66
CINCINNATI FINANCIAL CORP US CINF 11.6 $1,124.43
CISCO SYSTEMS INC US CSCO 139.12 $6,221.53
CITIGROUP INC US C 87.66 $4,278.73
CITIGROUP INC 1.46200 06/09/2027 US 13,690.72 $12,084.31
CLARK CNTY NV 1.51000 11/01/2028 US 14,093.39 $12,066.46
COCA COLA CO/THE US KO 4,240.14 $261,658.84
COGNEX CORP US CGNX 995.6 $41,924.60
COLGATE-PALMOLIVE CO US CL 42 $3,284.69
COMCAST CORP-CL A US CMCSA 145 $5,247.58
COMMUNITY HEALTHCARE TRUST I US CHCT 76.95 $2,838.68
CONAGRA BRAND INC. US CAG 38.33 $1,317.92
CONOCOPHILLIPS US COP 35.72 $3,909.19
CONSTELLATION BRANDS INC-A US STZ 873.35 $214,887.06
CONTROLADORA VUELA CIA DE AV MX VLRS 436.29 $3,874.26
COPART INC US CPRT 530.52 $63,476.17
COUSINS PROPERTIES INC US CUZ 170.97 $4,590.62
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 10,066.71 $8,911.92
CUMMINS INC US CMI 9.18 $1,977.28
KIMBERLY CLARK DE MEXICO S.A.B. MX 8,540.59 $11,594.33
DEUTSCHE BOERSE AG ADR DE DBOEY 5,665.78 $95,485.45
DEVON ENERGY CORPORATION US DVN 28.19 $1,990.55
DIAMONDBACK ENERGY INC US FANG 8.46 $1,127.02
DIGITAL REALTY TRUST INC US DLR 64.47 $7,970.08
DOLLAR GENERAL CORP US DG 494.24 $117,341.27
DOLLAR TREE STORES INC US DLTR 1,034.49 $140,360.27
DOMINO'S PIZZA US DPZ 235.52 $87,580.71
DOUBLEVERIFY HOLDINGS INC US DV 4,453.39 $115,120.13
DOW INC US DOW 29.27 $1,492.97
DREYFUS GVT CSH MANAGEMENT US 752,679.53 $752,679.53
DUKE RLTY INVTS INC US DRE 74.94 $4,410.02
EOG RESOURCES INC US EOG 20.17 $2,447.07
EAST WEST BANCORP INC US EWBC 1,358.08 $98,012.57
EASTMAN CHEM CO US EMN 10.79 $982.03
EBAY INC US EBAY 26.94 $1,188.80
ELECTRONIC ARTS US EA 1,113.86 $141,315.53
EMERSON ELEC CO US EMR 30.92 $2,527.80
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 18,522.74 $18,722.85
EQUINIX INC US EQIX 268.98 $176,820.95
EQUITY LIFESTYLE PROPERTIES US ELS 131.83 $9,241.53
ESSEX PROPERTY TRUST INC US ESS 19.65 $5,208.48
EVERGY INC US EVRG 1,445.14 $99,035.17
EXPEDIA GROUP INC 3.25000 02/15/2030 US 8,053.36 $6,968.90
EXTRA SPACE STORAGE INC US EXR 15.95 $3,168.88
FMC CORP US FMC 1,209.49 $130,722.17
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 7,046.69 $7,072.52
META PLATFORMS INC US META 1,189.68 $193,835.10
FEDEX CORPORATION US FDX 308.56 $65,048.52
FIFTH THIRD BANCORP US FITB 48.88 $1,669.39
GENERAL DYNAMICS CORP US GD 13.93 $3,189.53
GENERAL MLS INC US GIS 35.23 $2,705.93
GENUINE PARTS CO US GPC 10.95 $1,708.71
GETTY REALTY CORP US GTY 99.58 $2,995.36
GILEAD SCIENCES INC US GILD 63.18 $4,009.95
GRAPHIC PACKAGING HOLDING CO US GPK 2,764.24 $61,559.55
GREENIDGE GEN HLD INC US 136.91 $1,918.07
GRUPO AEROPORTUARIO CEN-ADR MX OMAB 673.3 $35,193.47
GRUPO AEROPORTUARIO PAC-ADR MX PAC 268.54 $38,285.67
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 183.94 $38,897.55
AIRBUS SE FR AIR FP 63.9 $6,262.10
ADIDAS AG DE ADS GR 82.87 $12,288.09
HCA INC 4.12500 06/15/2029 US 11,274.71 $10,474.56
HDFC BANK LTD-ADR IN HDB 2,161.6 $131,965.90
L'OREAL FR OR FP 8.46 $2,904.17
HEALTHCARE REALTY TRUST INC US HR 252.39 $6,138.18
HEINEKEN NV-SPN ADR NL HEINY 1,938.2 $87,064.09
HESKA CORP US HSKA 623.17 $56,752.03
HOME DEPOT INC US HD 30.8 $8,884.52
HONEYWELL INTERNATIONAL INC US HON 27.66 $5,238.05
HUMANA INC US HUM 154.54 $74,456.24
IIP OPERATING PARTNER 5.50000 05/25/2026 US 7,248.03 $6,456.08
IDEXX LABORATORIES INC US IDXX 306.59 $106,577.37
KERRY GROUP PLC-A IE KYGA ID 53.03 $5,468.69
ILLINOIS TOOL WKS INC US ITW 15.78 $3,075.31
INDEPENDENCE REALTY TRUST IN US IRT 111.9 $2,176.48
INSPERITY INC US NSP 986.13 $107,508.38
INTEL CORP US INTC 150.44 $4,801.94
INTERCONTINENTALEXCHANGE INC US ICE 1,085.19 $109,441.50
INTERNATIONAL FLVRS & FRAGRANCES US IFF 15.7 $1,734.98
INTUITIVE SURGICAL INC US ISRG 434.04 $89,298.58
INVITATION HOMES INC US INVH 236.61 $8,584.13
JP MORGAN CHASE & CO US JPM 818.83 $93,125.06
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 20,536.08 $19,975.62
JOHNSON & JOHNSON US JNJ 1,501.87 $242,312.02
KEYCORP US KEY 51.78 $916.04
KROGER CO US KR 43.53 $2,086.75
L3HARRIS TECHNOLOGIES INC US LHX 403.88 $92,160.52
BEIERSDORF AG DE BEI GR 128.73 $12,994.32
LENNAR CORP US LEN 15.26 $1,181.97
LIFE STORAGE INC US LSI 45.46 $5,784.94
LOCKHEED MARTIN CORP US LMT 11.07 $4,652.04
LULULEMON - ADR CA LULU 670.08 $200,997.26
MAGALLANES INC 4.05400 03/15/2029 US 19,328.08 $17,591.98
MARATHON PETROLEUM CORP US MPC 22.11 $2,227.23
MARRIOTT VACATIONS WORLD US VAC 20.82 $2,964.89
MASTERCARD INC-CLASS A US MA 870.93 $282,503.93
MCDONALDS CORP US MCD 19.13 $4,825.29
MERCADOLIBRE INC BR MELI 93.06 $79,596.92
MERCK & CO INC US MRK 89.39 $7,630.53
MICROSOFT CORP US MSFT 1,405.31 $367,446.96
MICROCHIP TECHNOLOGY INC US MCHP 25.05 $1,634.25
MID-AMERICA APARTMENT COMM US MAA 37.73 $6,250.73
MONDELEZ INTERNATIONAL INC US MDLZ 4,012.55 $248,216.26
MOODY'S CORPORATION US MCO 591.88 $168,402.28
MOTOROLA SOLUTIONS INC US MSI 9.83 $2,391.53
NAVIENT CORP 6.75000 06/25/2025 US 7,449.36 $7,191.73
NESTLE S.A. - ADR CH NSRGY 1,433.9 $167,852.52
NETAPP INC US NTAP 17.64 $1,272.15
KEYENCE CORP JP 6861 JP 24.16 $9,071.49
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 3,825.35 $3,698.55
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 8,456.03 $7,337.80
NEWMONT GOLDCORP CORP US NEM 684.17 $28,297.42
NIKE INC CLASS B US NKE 786.33 $83,704.88
NORFOLK SOUTHN CORP US NSC 380.16 $92,428.08
NIKON CORP JP 7731 JP 475.15 $5,423.93
NORTHROP GRUMMAN CORP US NOC 209.23 $100,008.13
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 5,838.69 $0.58
NOVARTIS AG- REG CH NVS 1,425.32 $114,767.15
NUCOR CORP US NUE 14.58 $1,937.81
NVIDIA CORP US NVDA 241.8 $36,497.63
OKTA INC US OKTA 666.66 $60,932.50
OMNICOM GROUP US OMC 16.47 $1,101.78
SONY CORP FIRST SECTION JP 6758 JP 100.67 $8,003.36
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 8,053.36 $7,205.70
PPG INDUSTRIES INC US PPG 10.31 $1,308.95
PACKAGING CORP OF AMERICA US PKG 7.97 $1,091.64
PARKER HANNIFIN CORP US PH 5.76 $1,525.91
DEUTSCHE BOERSE AG DE DB1 GR 65.92 $11,144.85
PAYPAL HOLDINGS INC US PYPL 2,015.11 $188,292.15
PELORUS FUND REIT 7.00000 09/30/2026 US 7,650.7 $7,123.17
NESTLE SA-REGISTERED CH NESN SW 170.21 $19,918.23
PEPSICO INC 3.90000 07/18/2032 US 14,898.72 $14,635.77
PFIZER INC US PFE 126.68 $5,729.71
PIONEER NATURAL RESOURCES CO US PXD 8.94 $2,263.59
POPULAR INC 6.12500 09/14/2023 PR 6,442.69 $6,525.20
PROCTER & GAMBLE CO US PG 68.41 $9,436.94
PROLOGIS US PLD 199.68 $24,862.55
PUBLIC STORAGE INC US PSA 34.95 $11,563.04
QUALCOMM INC US QCOM 42.6 $5,635.01
QUALCOMM INC 4.25000 05/20/2032 US 16,106.73 $16,298.08
QUEST DIAGNOSTICS INC US DGX 10.19 $1,276.60
RADIUS GLOBAL INFRASTRUCTURE US RADI 717.96 $9,886.27
REGIONS FINANCIAL CORP. US RF 70.23 $1,521.78
REPUBLIC SERVICES INC US RSG 18.36 $2,620.58
RESTAURANT BRANDS INTERN CA QSR 110.89 $6,542.80
REXFORD INDUSTRIAL REALITY IN US REXR 120.24 $7,479.93
GETINGE AB-B SHS SE GETIB SS 494.44 $9,157.73
ROSS STORES INC US ROST 16.23 $1,399.95
HEINEKEN NV NL HEIA NA 121.36 $10,908.10
RYANAIR HOLDINGS - ADR IE RYAAY 1,337.66 $97,261.54
S&P GLOBAL INC US SPGI 327.61 $115,378.00
SBA COMMUNICATIONS CORP US SBAC 654.78 $212,966.81
NAVIENT CORP 5.50000 01/25/2023 US 3,624.01 $3,607.06
SALESFORCE INC US CRM 1,532.27 $239,218.53
SEA LTD - ADR SG SE 1,845.91 $114,446.53
SEAGEN INC US SGEN 392.8 $60,605.55
SERVICENOW INC US NOW 515.94 $224,237.32
SHOPIFY INC CA SHOP 129.18 $4,088.42
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 25,368.1 $21,240.19
SKYWORKS SOLUTIONS INC US SWKS 8.86 $873.02
JM SMUCKER CO/THE-NEW COM WI US SJM 9.02 $1,262.68
SNOWFLAKE INC-CLASS A US SNOW 987.99 $178,776.21
SONY CORP SPONSORED ADR JP SONY 1,763.36 $139,922.99
SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 14,898.72 $15,174.61
ONEMAIN FINANCE CORP 5.62500 03/15/2023 US 3,422.68 $3,405.59
STANLEY BLACK & DECKER INC US SWK 8.21 $723.69
STEEL DYNAMICS INC US STLD 15.06 $1,215.63
SUN COMMUNITIES US SUI 62.17 $9,556.45
SYNCHRONOSS TECH US 277.44 $6,025.96
SYNERGY ONE LENDING 5.50000 10/14/2026 US 7,046.69 $6,084.62
TJX COMPANIES INC US TJX 41.76 $2,603.53
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 1,268.16 $105,701.41
TARGET CORP US TGT 14.9 $2,388.86
TENCENT HOLDINGS 3.97500 04/11/2029 KY 32,616.13 $30,740.45
TERRENO REALTY CORP US TRNO 77.96 $4,754.57
TEXAS INSTRUMENTS INC US TXN 26.01 $4,297.50
THERMO FISHER SCIENTIFIC INC US TMO 240.67 $131,244.78
3M CO US MMM 26.37 $3,279.70
TRACTOR SUPPLY COMPANY US TSCO 6.4 $1,185.41
TRAVELLERS COS INC US TRV 13.53 $2,186.93
TYSON FOODS INC -CL A US TSN 22.39 $1,687.63
UDR INC US UDR 191.87 $8,609.27
U.S. BANCORP US USB 71.43 $3,258.07
UBISOFT ENTERTAIN-UNSPON ADR FR UBSFY 7,935.42 $72,942.41
UNILEVER PLC - ADR GB UL 3,691.3 $167,548.10
UNION PAC CORP US UNP 24.56 $5,514.59
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 8,804.7 $7,417.30
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 958.97 $893.98
UNITED PARCEL SERVICE US UPS 395.26 $76,881.85
US TREASURY N/B 3.00000 05/15/2047 US 310,054.54 $283,021.66
US TREASURY N/B 3.12500 11/15/2028 US 529,106.05 $523,608.31
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 312,671.88 $309,178.75
UNITEDHEALTH GROUP INC US UNH 153.62 $79,778.40
UNIVERSAL DISPLAY CORP US OLED 911.64 $101,857.63
VF CORP US VFC 21.46 $889.61
VENTAS INC US VTR 72.16 $3,453.49
VERTEX PHARMACEUTICALS INC US VRTX 317.02 $89,323.75
PARAMOUNT GLOBAL CLASS B US PARA 35.39 $827.88
VISA INC - CLASS A SHARES US V 1,102.1 $218,998.88
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 3,624.01 $3,494.79
VISTRA OPERATIONS 4.87500 05/13/2024 US 13,690.72 $13,534.25
WAL MART STORES US WMT 79.2 $10,498.60
WALGREENS BOOTS ALLIANCE INC US WBA 39.42 $1,382.11
WASTE MANAGEMENT INC US WM 20.54 $3,471.21
WELLTOWER INC. US WELL 83.92 $6,432.17
ZOETIS INC US ZTS 263.02 $41,170.97
ADMIRAL GROUP PLC GB ADM LN 620.35 $15,259.88
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 302 $1,976.47
UBISOFT ENTERTAINMENT FR UBI FP 209.95 $9,681.91
DANONE FR BN FP 99.46 $5,233.57
AIR LIQUIDE FR AI FP 145.2 $18,195.69
BRENNTAG AG DE BNR GR 122.49 $8,031.47
KEYWORDS STUDIOS PLC IE KWS LN 96.04 $2,767.83
S4 CAPITAL PLC GB SFOR LN 4,826.66 $7,418.43
HELIOS TOWERS PLC GB HTWS LN 1,751.08 $2,509.42
AVANZA BANK HOLDING AB SE AZA SS 465.36 $7,459.33
AMERICAN TANKER INC 7.75000 07/02/2025 US 6,845.36 $6,617.94
SOFTWAREONE HOLDING AG CH SWON SW 648.26 $8,522.69
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 213.54 $3,384.53
SEASPAN CORP 6.50000 02/05/2024 MH 8,053.36 $7,992.70
PETROTAL CORP 12.00000 02/16/2024 CA 5,476.29 $5,585.81
FINECOBANK SPA IT FBK IM 1,427.18 $15,431.06
ALLFUNDS GROUP PLC GB ALLFG NA 789.59 $6,199.48
ROTORK PLC GB ROR LN 2,721.15 $7,806.46
AUTO TRADER GROUP PLC GB AUTO LN 1,984.71 $14,985.92
CELLNEX TELECOM SA ES CLNX SM 133.4 $5,195.12
ASSA ABLOY AB-B SE ASSAB SS 440.6 $8,923.89
CLEANAWAY WASTE MANAGEMENT AU CWY AU 5,827.01 $11,067.28
INTERMEDIATE CAPITAL GROUP GB ICP LN 555.24 $8,777.09
ADYEN NV NL ADYEN NA 8.54 $13,173.16
BANK OF N.T. BUTTERFIELD&SON BM NTB 174.15 $5,680.90
BUNGE LIMITED US BG 10.67 $1,058.21
EATON CORP PLC US ETN 20.9 $2,855.57
JOHNSON CONTROLS INTERNATIONAL US JCI 39.06 $2,114.64
MEDTRONIC INC IE MDT 3,029.03 $266,312.45
ROYALTY PHARMA PLC- CL A US RPRX 31.53 $1,318.22
STONECO LTD-A BR STNE 611.93 $5,801.14
TRANE TECHNOLOGIES IE TT 10.03 $1,544.77
ALCON INC CH ALC 1,161.42 $76,281.80
CHUBB LTD CH CB 19.25 $3,638.75
GARMIN LTD CH GRMN 13.73 $1,215.06
TE CONNECTIVITY LIMITED CH TEL 13.57 $1,712.66
LYONDELLBASELL INDU-CL A US LYB 14.9 $1,236.59
PLAYA HOTELS AND RESORTS US PLYA 220.22 $1,444.64
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 7,489.63 $7,202.39

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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