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

$19.00

Daily $ Change

$0.27

Daily % Change

1.42%

as of 06/23/2022

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 05/31/2022

YTD

-14.40%

1 Year

-7.80%

3 Year

12.61%

5 Year

10.55%

10 Year

10.99%

Inception
(01/01/2000)

8.00%

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 05/31/2022

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

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2022

Stocks 82.54%
Bonds 12.54%
Cash 4.92%

Detailed Asset Class Allocation

As of 05/31/2022

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

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

May Fund Holdings

As of 05/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 40.83 $4,796.32
ACCOR SA-SPONSORED ADR FR ACCYY 9,896.93 $66,210.43
ACTIVISION INC US ATVI 970.25 $75,563.45
ADIDAS AG-SPONSORED ADR DE ADDYY 560.59 $55,576.89
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 7,589.9 $6,656.02
ADYEN NV UNSPON ADR NL ADYEY 6,713.91 $103,931.35
AGREE REALTY CORP US ADC 34.53 $2,402.53
AIR LIQUIDE-ADR FR AIQUY 2,923.06 $102,044.03
AIR LEASE CORP 3.62500 04/01/2027 US 7,589.9 $7,217.96
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 1,917.55 $2,011.78
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 17,836.26 $15,529.03
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 9,487.37 $7,892.03
ALIGN TECHNOLOGY INC US ALGN 345.53 $95,933.00
ALLSTATE CORPORATION US ALL 14.8 $2,023.05
ALPHABET INC-CL A US GOOGL 70.32 $159,995.84
AMAZON.COM INC US AMZN 156.43 $376,082.24
AMAZON.COM INC 3.30000 04/13/2027 US 16,697.78 $16,682.40
DIAGEO PLC GB DGE LN 2,296.06 $106,677.81
AMERICAN HOMES 4 RENT- A US AMH 122.96 $4,544.47
AMERICAN TOWER REIT INC US AMT 18.41 $4,714.20
ANALOG DEVICES INC US ADI 22.62 $3,808.85
APPLE HOSPITALITY REIT INC US APLE 419.11 $7,003.40
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 1,897.47 $1,919.49
ARCHER-DANIELS-MIDLAND CO US ADM 26.87 $2,440.17
ARGO BLOCKCHAIN PLC GB 136.62 $2,864.88
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 7,589.9 $7,217.25
AUTOMATIC DATA PROCESSING US ADP 15.67 $3,494.17
AVALONBAY COMMUNITIES INC US AVB 29.18 $6,068.93
AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 KY 20,872.22 $18,086.52
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 4,933.43 $4,994.46
BANK OF AMERICA CORP 2.68700 04/22/2032 US 13,661.82 $11,952.88
BARRICK GOLD CORP CA GOLD 2,078.76 $42,593.79
BAXTER INTERNATIONAL INC US BAX 20.68 $1,572.90
BEST BUY INC US BBY 14.12 $1,158.46
BIOMARIN PHARMACEUTICAL INC US BMRN 1,753.49 $131,740.05
BLACKROCK INC US BLK 194.19 $129,927.03
BLACKSTONE PRIVATE CRE 2.62500 12/15/2026 US 7,969.39 $6,933.66
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 7,969.39 $7,250.11
DECHRA PHARMACEUTICALS PLC GB DPH LN 207.62 $9,516.85
BOSTON SCIENTIFIC CORP US BSX 1,636 $67,092.48
BRANDYWINE REALTY TRUST US BDN 208.46 $2,324.29
BRISTOL MYERS SQUIBB CO US BMY 70.32 $5,305.68
BROADRIDGE FINANCIAL SOLUTIONS US BR 7.97 $1,165.28
JONAH ENERGY PARENT LLC US 75.56 $4,054.41
CBOE GLOBAL MARKETS INC US CBOE 535.47 $60,138.35
CDW CORP/DE US CDW 345.68 $58,717.54
C.H. ROBINSON WORLDWIDE INC US CHRW 9.9 $1,074.77
COTERRA ENERGY INC US CTRA 36.36 $1,248.09
CAMDEN PROPERTY TRUST US CPT 28.12 $4,035.02
CAMECO CORP CA CCJ 134.34 $3,287.33
CAMPBELL SOUP CO US CPB 22.5 $1,078.17
CANADIAN NATIONAL RAILWAY CO CA CNI 1,504.32 $171,161.32
CARETRUST REIT INC US CTRE 139.2 $2,579.35
CATERPILLAR INC US CAT 19.89 $4,292.29
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 17,456.77 $19,672.12
CENTURYLINK INC 7.50000 04/01/2024 US 5,882.17 $6,085.22
CHARTER COMMUNICATIONS INC-A US CHTR 323.48 $163,982.49
CHEVRON CORP US CVX 37.65 $6,575.23
CINCINNATI FINANCIAL CORP US CINF 10.93 $1,397.44
CISCO SYSTEMS INC US CSCO 127.66 $5,751.18
CITIGROUP INC US C 78.33 $4,183.49
CITIGROUP INC 1.46200 06/09/2027 US 12,902.83 $11,622.51
CLARK CNTY NV 1.51000 11/01/2028 US 13,282.32 $11,684.99
COCA COLA CO/THE US KO 3,996.12 $253,274.10
COGNEX CORP US CGNX 938.3 $45,432.55
COLGATE-PALMOLIVE CO US CL 37.76 $2,975.85
COMCAST CORP-CL A US CMCSA 136.66 $6,051.13
COMMUNITY HEALTHCARE TRUST I US CHCT 72.52 $2,732.61
CONAGRA BRAND INC. US CAG 34.27 $1,127.09
CONOCOPHILLIPS US COP 33.66 $3,782.17
CONSTELLATION BRANDS INC-A US STZ 823.09 $202,043.09
CONTROLADORA VUELA CIA DE AV MX VLRS 267.77 $4,171.88
COPART INC US CPRT 499.98 $57,263.24
COUSINS PROPERTIES INC US CUZ 171.68 $5,931.67
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 9,487.37 $8,628.12
CUMMINS INC US CMI 8.65 $1,809.41
KIMBERLY CLARK DE MEXICO S.A.B. MX 5,920.12 $9,159.71
DEVON ENERGY CORPORATION US DVN 26.56 $1,989.69
DIAMONDBACK ENERGY INC US FANG 7.67 $1,165.35
DIGITAL REALTY TRUST INC US DLR 52.94 $7,389.83
WALT DISNEY CO/THE US DIS 545.87 $60,285.40
DOLLAR GENERAL CORP US DG 683.66 $150,637.69
DOLLAR TREE STORES INC US DLTR 974.96 $156,315.43
DOMINO'S PIZZA US DPZ 221.97 $80,611.62
DOUBLEVERIFY HOLDINGS INC US DV 4,197.1 $93,385.49
DOW INC US DOW 27.59 $1,875.52
DUKE RLTY INVTS INC US DRE 119.77 $6,327.38
EOG RESOURCES INC US EOG 18.06 $2,474.04
EAST WEST BANCORP INC US EWBC 1,279.92 $94,125.52
EASTMAN CHEM CO US EMN 9.87 $1,086.93
EBAY INC US EBAY 25.39 $1,235.64
ECO MATERIAL TECH INC 7.87500 01/31/2027 US 3,415.45 $3,236.52
ELECTRONIC ARTS US EA 1,049.76 $145,549.09
EMERSON ELEC CO US EMR 29.15 $2,584.01
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 17,456.77 $18,255.19
EQUINIX INC US EQIX 250.81 $172,327.83
EQUITY LIFESTYLE PROPERTIES US ELS 105.96 $8,020.79
ESSEX PROPERTY TRUST INC US ESS 17.99 $5,105.91
EXPEDIA INC US EXPE 566.13 $73,217.67
EXPEDIA GROUP INC 3.25000 02/15/2030 US 7,589.9 $6,711.31
EXTRA SPACE STORAGE INC US EXR 26.3 $4,686.48
FMC CORP US FMC 1,139.89 $139,727.61
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 12,523.33 $12,754.99
META PLATFORMS INC US FB 1,121.22 $217,112.64
FEDEX CORPORATION US FDX 290.81 $65,309.44
FIFTH THIRD BANCORP US FITB 41.74 $1,645.98
GENERAL DYNAMICS CORP US GD 12.6 $2,833.69
GENERAL MLS INC US GIS 31.35 $2,189.54
GENUINE PARTS CO US GPC 9.87 $1,349.10
GETTY REALTY CORP US GTY 93.85 $2,622.14
GILEAD SCIENCES INC US GILD 55.86 $3,622.63
GRAPHIC PACKAGING HOLDING CO US GPK 5,125.69 $114,097.79
GREENIDGE GEN HLD INC US 129.03 $2,570.24
GRUPO AEROPORTUARIO CEN-ADR MX OMAB 634.55 $36,651.81
GRUPO AEROPORTUARIO PAC-ADR MX PAC 268.49 $40,375.93
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 182.46 $39,646.99
AIRBUS SE FR AIR FP 60.23 $7,058.22
ADIDAS AG DE ADS GR 309.17 $61,422.98
HCA INC 4.12500 06/15/2029 US 10,625.86 $10,343.70
L'OREAL FR OR FP 7.97 $2,814.88
HEALTHCARE REALTY TRUST INC US HR 120.15 $3,492.71
HEALTHCARE TRUST OF AMERICA US HTA 82.39 $2,475.77
HEINEKEN NV-SPN ADR NL HEINY 1,826.66 $92,136.79
HESKA CORP US HSKA 587.31 $58,607.31
HOME DEPOT INC US HD 27.48 $8,318.19
HONEYWELL INTERNATIONAL INC US HON 26.07 $5,047.93
HUMANA INC US HUM 145.65 $66,158.68
IDEXX LABORATORIES INC US IDXX 288.95 $113,157.61
KERRY GROUP PLC-A IE KYGA ID 46.91 $4,854.27
ILLINOIS TOOL WKS INC US ITW 14.88 $3,095.29
INDEPENDENCE REALTY TRUST IN US IRT 124.36 $2,923.72
INSPERITY INC US NSP 929.38 $93,003.38
INTEL CORP US INTC 137.87 $6,124.21
INTERCONTINENTALEXCHANGE INC US ICE 1,022.74 $104,718.25
INTERNATIONAL FLVRS & FRAGRANCES US IFF 14.8 $1,956.16
INTUITIVE SURGICAL INC US ISRG 177.34 $40,369.22
INVITATION HOMES INC US INVH 198.89 $7,502.26
JP MORGAN CHASE & CO US JPM 763.89 $101,008.57
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 19,354.24 $19,610.35
JOHNSON & JOHNSON US JNJ 1,411.72 $253,446.34
KEYCORP US KEY 46.07 $919.57
KROGER CO US KR 36.66 $1,941.84
L3HARRIS TECHNOLOGIES INC US LHX 380.1 $91,566.62
BEIERSDORF AG DE BEI GR 121.32 $12,592.44
LENNAR CORP US LEN 14.04 $1,126.82
LIFE STORAGE INC US LSI 46.18 $5,392.51
LOCKHEED MARTIN CORP US LMT 9.64 $4,242.30
LULULEMON - ADR CA LULU 625.41 $183,050.59
MAGALLANES INC 4.05400 03/15/2029 US 18,215.76 $17,462.35
ATOS SE FR ATO FP 364.24 $9,588.41
MARATHON PETROLEUM CORP US MPC 20.3 $2,066.64
MARRIOTT VACATIONS WORLD US VAC 19.62 $2,898.25
MASTERCARD INC-CLASS A US MA 820.81 $293,743.17
MCDONALDS CORP US MCD 17.12 $4,316.63
ACCOR SA FR AC FP 163.79 $5,389.47
MERCADOLIBRE INC AR MELI 8.01 $6,292.81
MERCK & CO INC US MRK 73.62 $6,775.44
MICROSOFT CORP US MSFT 1,324.44 $360,074.83
MICROCHIP TECHNOLOGY INC US MCHP 23.6 $1,714.87
MID-AMERICA APARTMENT COMM US MAA 37.23 $6,738.35
MONDELEZ INTERNATIONAL INC US MDLZ 3,781.63 $240,360.38
MOODY'S CORPORATION US MCO 557.82 $168,221.68
MOTOROLA SOLUTIONS INC US MSI 9.26 $2,034.72
NAVIENT CORP 6.75000 06/25/2025 US 11,954.09 $12,065.68
NETAPP INC US NTAP 16.62 $1,195.94
KEYENCE CORP JP 6861 JP 22.77 $9,052.70
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 3,605.2 $3,499.76
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 7,969.39 $7,244.03
NEWMONT GOLDCORP CORP US NEM 636.15 $43,162.60
NEXPOINT RESIDENTIAL US NXRT 35.43 $2,603.59
NORFOLK SOUTHN CORP US NSC 358.28 $85,865.68
NIKON CORP JP 7731 JP 956.33 $11,866.40
NORTHROP GRUMMAN CORP US NOC 196.46 $91,939.52
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 5,502.68 $0.55
NOVARTIS AG- REG CH NVS 1,343.3 $122,159.56
NUCOR CORP US NUE 13.74 $1,819.70
NVIDIA CORP US NVDA 227.89 $42,551.01
OKTA INC US OKTA 628.29 $52,179.64
OMNICOM GROUP US OMC 15.52 $1,158.05
SONY CORP FIRST SECTION JP 6758 JP 94.87 $8,898.16
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 7,589.9 $7,067.70
PPG INDUSTRIES INC US PPG 9.72 $1,228.86
PACKAGING CORP OF AMERICA US PKG 7.13 $1,122.12
PARKER HANNIFIN CORP US PH 5.43 $1,477.01
DEUTSCHE BOERSE AG DE DB1 GR 722.94 $121,499.24
PAYPAL HOLDINGS INC US PYPL 2,976.27 $253,607.57
NESTLE SA-REGISTERED CH NESN SW 1,570.2 $192,062.33
PFIZER INC US PFE 109.33 $5,799.00
PIONEER NATURAL RESOURCES CO US PXD 8.42 $2,341.59
POPULAR INC 6.12500 09/14/2023 PR 6,071.92 $6,140.64
PROCTER & GAMBLE CO US PG 60.64 $8,967.93
PROLOGIS US PLD 183.49 $23,390.77
PUBLIC STORAGE INC US PSA 33.32 $11,016.81
QUALCOMM INC US QCOM 36.92 $5,288.38
QUALCOMM INC 4.25000 05/20/2032 US 15,179.8 $15,762.22
QUEST DIAGNOSTICS INC US DGX 9.03 $1,273.69
RADIUS GLOBAL INFRASTRUCTURE US RADI 612.62 $9,128.02
RAILWORKS HOLDINGS LP/R 8.25000 11/15/2028 US 7,020.66 $6,793.88
REGIONS FINANCIAL CORP. US RF 66.18 $1,462.00
REPUBLIC SERVICES INC US RSG 16.05 $2,148.49
RESTAURANT BRANDS INTERN CA QSR 104.51 $5,487.97
REXFORD INDUSTRIAL REALITY IN US REXR 113.32 $7,237.57
GETINGE AB-B SHS SE GETIB SS 310.12 $9,000.15
ROSS STORES INC US ROST 12.94 $1,100.23
HEINEKEN NV NL HEIA NA 81.82 $8,227.16
RYANAIR HOLDINGS - ADR IE RYAAY 1,243.38 $108,422.51
S&P GLOBAL INC US SPGI 308.76 $107,904.44
SBA COMMUNICATIONS CORP US SBAC 619.07 $208,385.21
NAVIENT CORP 5.50000 01/25/2023 US 3,415.45 $3,429.81
SALESFORCE INC US CRM 907.9 $145,482.51
SEA LTD - ADR SG SE 1,732.2 $143,184.06
SEAGEN INC US SGEN 1,137.69 $154,361.51
SERVICENOW INC US NOW 486.25 $227,305.85
SHOPIFY INC CA SHOP 9.26 $3,473.49
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 23,908.18 $20,647.96
SKYWORKS SOLUTIONS INC US SWKS 8.16 $888.29
JM SMUCKER CO/THE-NEW COM WI US SJM 8.24 $1,032.43
SNOWFLAKE INC-CLASS A US SNOW 435.51 $55,592.65
SONY CORP SPONSORED ADR JP SONY 1,661.88 $156,333.47
SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 14,041.31 $14,640.07
STANLEY BLACK & DECKER INC US SWK 7.74 $918.86
STEEL DYNAMICS INC US STLD 13.62 $1,163.21
SUN COMMUNITIES US SUI 55.14 $9,050.23
SYNCHRONOSS TECH US 261.47 $5,799.45
SYNERGY ONE LENDING 5.50000 10/14/2026 US 6,641.16 $5,923.95
TJX COMPANIES INC US TJX 35.86 $2,279.76
TACORA RESOURCES INC 8.25000 05/15/2026 CA 3,415.45 $3,258.71
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 1,195.18 $113,900.80
TARGET CORP US TGT 14.04 $2,273.01
TENCENT HOLDINGS 3.97500 04/11/2029 KY 30,739.09 $29,618.35
TERRENO REALTY CORP US TRNO 63.22 $3,838.32
TEXAS INSTRUMENTS INC US TXN 23.41 $4,138.81
THERMO FISHER SCIENTIFIC INC US TMO 226.82 $128,738.59
3M CO US MMM 24.86 $3,710.89
TRACTOR SUPPLY COMPANY US TSCO 5.2 $974.10
TRAVELLERS COS INC US TRV 12.75 $2,282.94
TYSON FOODS INC -CL A US TSN 20.49 $1,836.35
UDR INC US UDR 136.54 $6,526.72
U.S. BANCORP US USB 64.21 $3,407.65
UBISOFT ENTERTAIN-UNSPON ADR FR UBSFY 7,478.75 $78,975.55
UNILEVER PLC - ADR GB UL 3,437.05 $166,112.54
UNION PAC CORP US UNP 22.31 $4,904.24
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 10,151.81 $9,137.83
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 903.78 $846.64
UNITED PARCEL SERVICE US UPS 371.11 $67,634.46
US TREASURY N/B 3.00000 05/15/2047 US 65,652.63 $62,585.42
US TREASURY N/B 2.00000 02/15/2050 US 82,729.91 $65,266.14
US TREASURY N/B 2.87500 05/15/2028 US 948,547.73 $948,251.30
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 100,566.17 $100,200.83
US TREASURY N/B 1.62500 05/15/2031 US 58,252.48 $52,682.09
UNITEDHEALTH GROUP INC US UNH 144.78 $71,922.49
UNIVERSAL DISPLAY CORP US OLED 859.18 $108,522.60
VF CORP US VFC 19.77 $997.68
VENTAS INC US VTR 66.41 $3,768.20
VERTEX PHARMACEUTICALS INC US VRTX 526.44 $141,426.88
PARAMOUNT GLOBAL CLASS B US PARA 32.45 $1,113.90
VISA INC - CLASS A SHARES US V 1,038.68 $220,376.27
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 3,415.45 $3,352.58
VISTRA OPERATIONS 4.87500 05/13/2024 US 12,902.83 $12,951.84
WAL MART STORES US WMT 66.34 $8,532.76
WALGREENS BOOTS ALLIANCE INC US WBA 35.44 $1,553.55
WARRIOR MET COAL INC 7.87500 12/01/2028 US 3,225.71 $3,271.84
WASTE MANAGEMENT INC US WM 17.46 $2,767.07
WELLTOWER INC. US WELL 76.73 $6,836.22
ZOETIS INC US ZTS 247.89 $42,371.18
BNY MELLON CASH RESERVE EOD FUND US 15.95 $15.95
ADMIRAL GROUP PLC GB ADM LN 397.79 $11,136.98
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 500.93 $3,609.78
UBISOFT ENTERTAINMENT FR UBI FP 197.87 $10,402.57
DANONE FR BN FP 93.74 $5,515.15
AIR LIQUIDE FR AI FP 104.59 $18,320.60
BRENNTAG AG DE BNR GR 954.92 $73,888.69
KEYWORDS STUDIOS PLC IE KWS LN 81.86 $2,418.69
S4 CAPITAL PLC GB SFOR LN 1,627.24 $5,819.95
HELIOS TOWERS PLC GB HTWS LN 1,650.31 $2,364.47
AVANZA BANK HOLDING AB SE AZA SS 337.67 $8,135.35
AMERICAN TANKER INC 7.75000 07/02/2025 US 6,451.41 $6,128.84
SOFTWAREONE HOLDING AG CH SWON SW 610.95 $8,159.67
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 194.76 $3,443.30
SEASPAN CORP 6.50000 02/05/2024 MH 7,589.9 $7,570.81
PETROTAL CORP 12.00000 02/16/2024 CA 5,161.13 $5,315.97
FINECOBANK SPA IT FBK IM 1,078.68 $15,285.48
ALLFUNDS GROUP PLC GB ALLFG NA 649.24 $5,922.04
COPPER MOUNTAIN MINING C 8.00000 04/09/2026 CA 3,719.05 $3,716.72
AIRSWIFT GLOBAL AS FLT 10.38899 05/12/2025 NO 7,589.9 $7,602.52
KENT GLOBAL PLC 10.00000 06/28/2026 GB 3,794.95 $3,757.00
ROTORK PLC GB ROR LN 2,130.37 $7,497.65
AUTO TRADER GROUP PLC GB AUTO LN 1,870.49 $13,914.92
CELLNEX TELECOM SA ES CLNX SM 52.18 $2,354.87
ASSA ABLOY AB-B SE ASSAB SS 463.86 $11,434.57
CLEANAWAY WASTE MANAGEMENT AU CWY AU 4,218.81 $9,041.35
INTERMEDIATE CAPITAL GROUP GB ICP LN 491.26 $9,753.50
ADYEN NV NL ADYEN NA 8.05 $12,459.47
BANK OF N.T. BUTTERFIELD&SON BM NTB 164.13 $5,183.28
BUNGE LIMITED US BG 10.06 $1,189.90
EATON CORP PLC US ETN 19.7 $2,729.84
JOHNSON CONTROLS INTERNATIONAL US JCI 36.81 $2,006.57
MEDTRONIC INC IE MDT 2,842.91 $284,717.52
ROYALTY PHARMA PLC- CL A US RPRX 26.98 $1,110.04
STONECO LTD-A BR STNE 576.72 $5,790.25
TRANE TECHNOLOGIES IE TT 9.45 $1,304.59
ALCON INC CH ALC 1,094.58 $81,797.77
CHUBB LTD CH CB 17.27 $3,648.35
GARMIN LTD CH GRMN 12.94 $1,366.81
TE CONNECTIVITY LIMITED CH TEL 12.79 $1,654.77
LYONDELLBASELL INDU-CL A US LYB 14.04 $1,604.22
PLAYA HOTELS AND RESORTS US PLYA 271.04 $2,341.75
US DOLLAR US 666,135.12 $666,135.12
NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 MH 1,897.47 $1,917.45
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 7,058.61 $7,052.16

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

$19.00

Daily $ Change

$0.27

Daily % Change

1.42%

as of 06/23/2022

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 05/31/2022

YTD

-14.40%

1 Year

-7.80%

3 Year

12.61%

5 Year

10.55%

10 Year

10.99%

Inception
(01/01/2000)

8.00%

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 05/31/2022

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

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2022

Stocks
82.54%
Bonds
12.54%
Cash
4.92%

Detailed Asset Class Allocation

As of 05/31/2022

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

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

May Fund Holdings

As of 05/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 40.83 $4,796.32
ACCOR SA-SPONSORED ADR FR ACCYY 9,896.93 $66,210.43
ACTIVISION INC US ATVI 970.25 $75,563.45
ADIDAS AG-SPONSORED ADR DE ADDYY 560.59 $55,576.89
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 7,589.9 $6,656.02
ADYEN NV UNSPON ADR NL ADYEY 6,713.91 $103,931.35
AGREE REALTY CORP US ADC 34.53 $2,402.53
AIR LIQUIDE-ADR FR AIQUY 2,923.06 $102,044.03
AIR LEASE CORP 3.62500 04/01/2027 US 7,589.9 $7,217.96
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 1,917.55 $2,011.78
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 17,836.26 $15,529.03
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 9,487.37 $7,892.03
ALIGN TECHNOLOGY INC US ALGN 345.53 $95,933.00
ALLSTATE CORPORATION US ALL 14.8 $2,023.05
ALPHABET INC-CL A US GOOGL 70.32 $159,995.84
AMAZON.COM INC US AMZN 156.43 $376,082.24
AMAZON.COM INC 3.30000 04/13/2027 US 16,697.78 $16,682.40
DIAGEO PLC GB DGE LN 2,296.06 $106,677.81
AMERICAN HOMES 4 RENT- A US AMH 122.96 $4,544.47
AMERICAN TOWER REIT INC US AMT 18.41 $4,714.20
ANALOG DEVICES INC US ADI 22.62 $3,808.85
APPLE HOSPITALITY REIT INC US APLE 419.11 $7,003.40
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 1,897.47 $1,919.49
ARCHER-DANIELS-MIDLAND CO US ADM 26.87 $2,440.17
ARGO BLOCKCHAIN PLC GB 136.62 $2,864.88
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 7,589.9 $7,217.25
AUTOMATIC DATA PROCESSING US ADP 15.67 $3,494.17
AVALONBAY COMMUNITIES INC US AVB 29.18 $6,068.93
AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 KY 20,872.22 $18,086.52
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 4,933.43 $4,994.46
BANK OF AMERICA CORP 2.68700 04/22/2032 US 13,661.82 $11,952.88
BARRICK GOLD CORP CA GOLD 2,078.76 $42,593.79
BAXTER INTERNATIONAL INC US BAX 20.68 $1,572.90
BEST BUY INC US BBY 14.12 $1,158.46
BIOMARIN PHARMACEUTICAL INC US BMRN 1,753.49 $131,740.05
BLACKROCK INC US BLK 194.19 $129,927.03
BLACKSTONE PRIVATE CRE 2.62500 12/15/2026 US 7,969.39 $6,933.66
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 7,969.39 $7,250.11
DECHRA PHARMACEUTICALS PLC GB DPH LN 207.62 $9,516.85
BOSTON SCIENTIFIC CORP US BSX 1,636 $67,092.48
BRANDYWINE REALTY TRUST US BDN 208.46 $2,324.29
BRISTOL MYERS SQUIBB CO US BMY 70.32 $5,305.68
BROADRIDGE FINANCIAL SOLUTIONS US BR 7.97 $1,165.28
JONAH ENERGY PARENT LLC US 75.56 $4,054.41
CBOE GLOBAL MARKETS INC US CBOE 535.47 $60,138.35
CDW CORP/DE US CDW 345.68 $58,717.54
C.H. ROBINSON WORLDWIDE INC US CHRW 9.9 $1,074.77
COTERRA ENERGY INC US CTRA 36.36 $1,248.09
CAMDEN PROPERTY TRUST US CPT 28.12 $4,035.02
CAMECO CORP CA CCJ 134.34 $3,287.33
CAMPBELL SOUP CO US CPB 22.5 $1,078.17
CANADIAN NATIONAL RAILWAY CO CA CNI 1,504.32 $171,161.32
CARETRUST REIT INC US CTRE 139.2 $2,579.35
CATERPILLAR INC US CAT 19.89 $4,292.29
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 17,456.77 $19,672.12
CENTURYLINK INC 7.50000 04/01/2024 US 5,882.17 $6,085.22
CHARTER COMMUNICATIONS INC-A US CHTR 323.48 $163,982.49
CHEVRON CORP US CVX 37.65 $6,575.23
CINCINNATI FINANCIAL CORP US CINF 10.93 $1,397.44
CISCO SYSTEMS INC US CSCO 127.66 $5,751.18
CITIGROUP INC US C 78.33 $4,183.49
CITIGROUP INC 1.46200 06/09/2027 US 12,902.83 $11,622.51
CLARK CNTY NV 1.51000 11/01/2028 US 13,282.32 $11,684.99
COCA COLA CO/THE US KO 3,996.12 $253,274.10
COGNEX CORP US CGNX 938.3 $45,432.55
COLGATE-PALMOLIVE CO US CL 37.76 $2,975.85
COMCAST CORP-CL A US CMCSA 136.66 $6,051.13
COMMUNITY HEALTHCARE TRUST I US CHCT 72.52 $2,732.61
CONAGRA BRAND INC. US CAG 34.27 $1,127.09
CONOCOPHILLIPS US COP 33.66 $3,782.17
CONSTELLATION BRANDS INC-A US STZ 823.09 $202,043.09
CONTROLADORA VUELA CIA DE AV MX VLRS 267.77 $4,171.88
COPART INC US CPRT 499.98 $57,263.24
COUSINS PROPERTIES INC US CUZ 171.68 $5,931.67
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 9,487.37 $8,628.12
CUMMINS INC US CMI 8.65 $1,809.41
KIMBERLY CLARK DE MEXICO S.A.B. MX 5,920.12 $9,159.71
DEVON ENERGY CORPORATION US DVN 26.56 $1,989.69
DIAMONDBACK ENERGY INC US FANG 7.67 $1,165.35
DIGITAL REALTY TRUST INC US DLR 52.94 $7,389.83
WALT DISNEY CO/THE US DIS 545.87 $60,285.40
DOLLAR GENERAL CORP US DG 683.66 $150,637.69
DOLLAR TREE STORES INC US DLTR 974.96 $156,315.43
DOMINO'S PIZZA US DPZ 221.97 $80,611.62
DOUBLEVERIFY HOLDINGS INC US DV 4,197.1 $93,385.49
DOW INC US DOW 27.59 $1,875.52
DUKE RLTY INVTS INC US DRE 119.77 $6,327.38
EOG RESOURCES INC US EOG 18.06 $2,474.04
EAST WEST BANCORP INC US EWBC 1,279.92 $94,125.52
EASTMAN CHEM CO US EMN 9.87 $1,086.93
EBAY INC US EBAY 25.39 $1,235.64
ECO MATERIAL TECH INC 7.87500 01/31/2027 US 3,415.45 $3,236.52
ELECTRONIC ARTS US EA 1,049.76 $145,549.09
EMERSON ELEC CO US EMR 29.15 $2,584.01
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 17,456.77 $18,255.19
EQUINIX INC US EQIX 250.81 $172,327.83
EQUITY LIFESTYLE PROPERTIES US ELS 105.96 $8,020.79
ESSEX PROPERTY TRUST INC US ESS 17.99 $5,105.91
EXPEDIA INC US EXPE 566.13 $73,217.67
EXPEDIA GROUP INC 3.25000 02/15/2030 US 7,589.9 $6,711.31
EXTRA SPACE STORAGE INC US EXR 26.3 $4,686.48
FMC CORP US FMC 1,139.89 $139,727.61
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 12,523.33 $12,754.99
META PLATFORMS INC US FB 1,121.22 $217,112.64
FEDEX CORPORATION US FDX 290.81 $65,309.44
FIFTH THIRD BANCORP US FITB 41.74 $1,645.98
GENERAL DYNAMICS CORP US GD 12.6 $2,833.69
GENERAL MLS INC US GIS 31.35 $2,189.54
GENUINE PARTS CO US GPC 9.87 $1,349.10
GETTY REALTY CORP US GTY 93.85 $2,622.14
GILEAD SCIENCES INC US GILD 55.86 $3,622.63
GRAPHIC PACKAGING HOLDING CO US GPK 5,125.69 $114,097.79
GREENIDGE GEN HLD INC US 129.03 $2,570.24
GRUPO AEROPORTUARIO CEN-ADR MX OMAB 634.55 $36,651.81
GRUPO AEROPORTUARIO PAC-ADR MX PAC 268.49 $40,375.93
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 182.46 $39,646.99
AIRBUS SE FR AIR FP 60.23 $7,058.22
ADIDAS AG DE ADS GR 309.17 $61,422.98
HCA INC 4.12500 06/15/2029 US 10,625.86 $10,343.70
L'OREAL FR OR FP 7.97 $2,814.88
HEALTHCARE REALTY TRUST INC US HR 120.15 $3,492.71
HEALTHCARE TRUST OF AMERICA US HTA 82.39 $2,475.77
HEINEKEN NV-SPN ADR NL HEINY 1,826.66 $92,136.79
HESKA CORP US HSKA 587.31 $58,607.31
HOME DEPOT INC US HD 27.48 $8,318.19
HONEYWELL INTERNATIONAL INC US HON 26.07 $5,047.93
HUMANA INC US HUM 145.65 $66,158.68
IDEXX LABORATORIES INC US IDXX 288.95 $113,157.61
KERRY GROUP PLC-A IE KYGA ID 46.91 $4,854.27
ILLINOIS TOOL WKS INC US ITW 14.88 $3,095.29
INDEPENDENCE REALTY TRUST IN US IRT 124.36 $2,923.72
INSPERITY INC US NSP 929.38 $93,003.38
INTEL CORP US INTC 137.87 $6,124.21
INTERCONTINENTALEXCHANGE INC US ICE 1,022.74 $104,718.25
INTERNATIONAL FLVRS & FRAGRANCES US IFF 14.8 $1,956.16
INTUITIVE SURGICAL INC US ISRG 177.34 $40,369.22
INVITATION HOMES INC US INVH 198.89 $7,502.26
JP MORGAN CHASE & CO US JPM 763.89 $101,008.57
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 19,354.24 $19,610.35
JOHNSON & JOHNSON US JNJ 1,411.72 $253,446.34
KEYCORP US KEY 46.07 $919.57
KROGER CO US KR 36.66 $1,941.84
L3HARRIS TECHNOLOGIES INC US LHX 380.1 $91,566.62
BEIERSDORF AG DE BEI GR 121.32 $12,592.44
LENNAR CORP US LEN 14.04 $1,126.82
LIFE STORAGE INC US LSI 46.18 $5,392.51
LOCKHEED MARTIN CORP US LMT 9.64 $4,242.30
LULULEMON - ADR CA LULU 625.41 $183,050.59
MAGALLANES INC 4.05400 03/15/2029 US 18,215.76 $17,462.35
ATOS SE FR ATO FP 364.24 $9,588.41
MARATHON PETROLEUM CORP US MPC 20.3 $2,066.64
MARRIOTT VACATIONS WORLD US VAC 19.62 $2,898.25
MASTERCARD INC-CLASS A US MA 820.81 $293,743.17
MCDONALDS CORP US MCD 17.12 $4,316.63
ACCOR SA FR AC FP 163.79 $5,389.47
MERCADOLIBRE INC AR MELI 8.01 $6,292.81
MERCK & CO INC US MRK 73.62 $6,775.44
MICROSOFT CORP US MSFT 1,324.44 $360,074.83
MICROCHIP TECHNOLOGY INC US MCHP 23.6 $1,714.87
MID-AMERICA APARTMENT COMM US MAA 37.23 $6,738.35
MONDELEZ INTERNATIONAL INC US MDLZ 3,781.63 $240,360.38
MOODY'S CORPORATION US MCO 557.82 $168,221.68
MOTOROLA SOLUTIONS INC US MSI 9.26 $2,034.72
NAVIENT CORP 6.75000 06/25/2025 US 11,954.09 $12,065.68
NETAPP INC US NTAP 16.62 $1,195.94
KEYENCE CORP JP 6861 JP 22.77 $9,052.70
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 3,605.2 $3,499.76
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 7,969.39 $7,244.03
NEWMONT GOLDCORP CORP US NEM 636.15 $43,162.60
NEXPOINT RESIDENTIAL US NXRT 35.43 $2,603.59
NORFOLK SOUTHN CORP US NSC 358.28 $85,865.68
NIKON CORP JP 7731 JP 956.33 $11,866.40
NORTHROP GRUMMAN CORP US NOC 196.46 $91,939.52
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 5,502.68 $0.55
NOVARTIS AG- REG CH NVS 1,343.3 $122,159.56
NUCOR CORP US NUE 13.74 $1,819.70
NVIDIA CORP US NVDA 227.89 $42,551.01
OKTA INC US OKTA 628.29 $52,179.64
OMNICOM GROUP US OMC 15.52 $1,158.05
SONY CORP FIRST SECTION JP 6758 JP 94.87 $8,898.16
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 7,589.9 $7,067.70
PPG INDUSTRIES INC US PPG 9.72 $1,228.86
PACKAGING CORP OF AMERICA US PKG 7.13 $1,122.12
PARKER HANNIFIN CORP US PH 5.43 $1,477.01
DEUTSCHE BOERSE AG DE DB1 GR 722.94 $121,499.24
PAYPAL HOLDINGS INC US PYPL 2,976.27 $253,607.57
NESTLE SA-REGISTERED CH NESN SW 1,570.2 $192,062.33
PFIZER INC US PFE 109.33 $5,799.00
PIONEER NATURAL RESOURCES CO US PXD 8.42 $2,341.59
POPULAR INC 6.12500 09/14/2023 PR 6,071.92 $6,140.64
PROCTER & GAMBLE CO US PG 60.64 $8,967.93
PROLOGIS US PLD 183.49 $23,390.77
PUBLIC STORAGE INC US PSA 33.32 $11,016.81
QUALCOMM INC US QCOM 36.92 $5,288.38
QUALCOMM INC 4.25000 05/20/2032 US 15,179.8 $15,762.22
QUEST DIAGNOSTICS INC US DGX 9.03 $1,273.69
RADIUS GLOBAL INFRASTRUCTURE US RADI 612.62 $9,128.02
RAILWORKS HOLDINGS LP/R 8.25000 11/15/2028 US 7,020.66 $6,793.88
REGIONS FINANCIAL CORP. US RF 66.18 $1,462.00
REPUBLIC SERVICES INC US RSG 16.05 $2,148.49
RESTAURANT BRANDS INTERN CA QSR 104.51 $5,487.97
REXFORD INDUSTRIAL REALITY IN US REXR 113.32 $7,237.57
GETINGE AB-B SHS SE GETIB SS 310.12 $9,000.15
ROSS STORES INC US ROST 12.94 $1,100.23
HEINEKEN NV NL HEIA NA 81.82 $8,227.16
RYANAIR HOLDINGS - ADR IE RYAAY 1,243.38 $108,422.51
S&P GLOBAL INC US SPGI 308.76 $107,904.44
SBA COMMUNICATIONS CORP US SBAC 619.07 $208,385.21
NAVIENT CORP 5.50000 01/25/2023 US 3,415.45 $3,429.81
SALESFORCE INC US CRM 907.9 $145,482.51
SEA LTD - ADR SG SE 1,732.2 $143,184.06
SEAGEN INC US SGEN 1,137.69 $154,361.51
SERVICENOW INC US NOW 486.25 $227,305.85
SHOPIFY INC CA SHOP 9.26 $3,473.49
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 23,908.18 $20,647.96
SKYWORKS SOLUTIONS INC US SWKS 8.16 $888.29
JM SMUCKER CO/THE-NEW COM WI US SJM 8.24 $1,032.43
SNOWFLAKE INC-CLASS A US SNOW 435.51 $55,592.65
SONY CORP SPONSORED ADR JP SONY 1,661.88 $156,333.47
SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 14,041.31 $14,640.07
STANLEY BLACK & DECKER INC US SWK 7.74 $918.86
STEEL DYNAMICS INC US STLD 13.62 $1,163.21
SUN COMMUNITIES US SUI 55.14 $9,050.23
SYNCHRONOSS TECH US 261.47 $5,799.45
SYNERGY ONE LENDING 5.50000 10/14/2026 US 6,641.16 $5,923.95
TJX COMPANIES INC US TJX 35.86 $2,279.76
TACORA RESOURCES INC 8.25000 05/15/2026 CA 3,415.45 $3,258.71
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 1,195.18 $113,900.80
TARGET CORP US TGT 14.04 $2,273.01
TENCENT HOLDINGS 3.97500 04/11/2029 KY 30,739.09 $29,618.35
TERRENO REALTY CORP US TRNO 63.22 $3,838.32
TEXAS INSTRUMENTS INC US TXN 23.41 $4,138.81
THERMO FISHER SCIENTIFIC INC US TMO 226.82 $128,738.59
3M CO US MMM 24.86 $3,710.89
TRACTOR SUPPLY COMPANY US TSCO 5.2 $974.10
TRAVELLERS COS INC US TRV 12.75 $2,282.94
TYSON FOODS INC -CL A US TSN 20.49 $1,836.35
UDR INC US UDR 136.54 $6,526.72
U.S. BANCORP US USB 64.21 $3,407.65
UBISOFT ENTERTAIN-UNSPON ADR FR UBSFY 7,478.75 $78,975.55
UNILEVER PLC - ADR GB UL 3,437.05 $166,112.54
UNION PAC CORP US UNP 22.31 $4,904.24
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 10,151.81 $9,137.83
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 903.78 $846.64
UNITED PARCEL SERVICE US UPS 371.11 $67,634.46
US TREASURY N/B 3.00000 05/15/2047 US 65,652.63 $62,585.42
US TREASURY N/B 2.00000 02/15/2050 US 82,729.91 $65,266.14
US TREASURY N/B 2.87500 05/15/2028 US 948,547.73 $948,251.30
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 100,566.17 $100,200.83
US TREASURY N/B 1.62500 05/15/2031 US 58,252.48 $52,682.09
UNITEDHEALTH GROUP INC US UNH 144.78 $71,922.49
UNIVERSAL DISPLAY CORP US OLED 859.18 $108,522.60
VF CORP US VFC 19.77 $997.68
VENTAS INC US VTR 66.41 $3,768.20
VERTEX PHARMACEUTICALS INC US VRTX 526.44 $141,426.88
PARAMOUNT GLOBAL CLASS B US PARA 32.45 $1,113.90
VISA INC - CLASS A SHARES US V 1,038.68 $220,376.27
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 3,415.45 $3,352.58
VISTRA OPERATIONS 4.87500 05/13/2024 US 12,902.83 $12,951.84
WAL MART STORES US WMT 66.34 $8,532.76
WALGREENS BOOTS ALLIANCE INC US WBA 35.44 $1,553.55
WARRIOR MET COAL INC 7.87500 12/01/2028 US 3,225.71 $3,271.84
WASTE MANAGEMENT INC US WM 17.46 $2,767.07
WELLTOWER INC. US WELL 76.73 $6,836.22
ZOETIS INC US ZTS 247.89 $42,371.18
BNY MELLON CASH RESERVE EOD FUND US 15.95 $15.95
ADMIRAL GROUP PLC GB ADM LN 397.79 $11,136.98
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 500.93 $3,609.78
UBISOFT ENTERTAINMENT FR UBI FP 197.87 $10,402.57
DANONE FR BN FP 93.74 $5,515.15
AIR LIQUIDE FR AI FP 104.59 $18,320.60
BRENNTAG AG DE BNR GR 954.92 $73,888.69
KEYWORDS STUDIOS PLC IE KWS LN 81.86 $2,418.69
S4 CAPITAL PLC GB SFOR LN 1,627.24 $5,819.95
HELIOS TOWERS PLC GB HTWS LN 1,650.31 $2,364.47
AVANZA BANK HOLDING AB SE AZA SS 337.67 $8,135.35
AMERICAN TANKER INC 7.75000 07/02/2025 US 6,451.41 $6,128.84
SOFTWAREONE HOLDING AG CH SWON SW 610.95 $8,159.67
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 194.76 $3,443.30
SEASPAN CORP 6.50000 02/05/2024 MH 7,589.9 $7,570.81
PETROTAL CORP 12.00000 02/16/2024 CA 5,161.13 $5,315.97
FINECOBANK SPA IT FBK IM 1,078.68 $15,285.48
ALLFUNDS GROUP PLC GB ALLFG NA 649.24 $5,922.04
COPPER MOUNTAIN MINING C 8.00000 04/09/2026 CA 3,719.05 $3,716.72
AIRSWIFT GLOBAL AS FLT 10.38899 05/12/2025 NO 7,589.9 $7,602.52
KENT GLOBAL PLC 10.00000 06/28/2026 GB 3,794.95 $3,757.00
ROTORK PLC GB ROR LN 2,130.37 $7,497.65
AUTO TRADER GROUP PLC GB AUTO LN 1,870.49 $13,914.92
CELLNEX TELECOM SA ES CLNX SM 52.18 $2,354.87
ASSA ABLOY AB-B SE ASSAB SS 463.86 $11,434.57
CLEANAWAY WASTE MANAGEMENT AU CWY AU 4,218.81 $9,041.35
INTERMEDIATE CAPITAL GROUP GB ICP LN 491.26 $9,753.50
ADYEN NV NL ADYEN NA 8.05 $12,459.47
BANK OF N.T. BUTTERFIELD&SON BM NTB 164.13 $5,183.28
BUNGE LIMITED US BG 10.06 $1,189.90
EATON CORP PLC US ETN 19.7 $2,729.84
JOHNSON CONTROLS INTERNATIONAL US JCI 36.81 $2,006.57
MEDTRONIC INC IE MDT 2,842.91 $284,717.52
ROYALTY PHARMA PLC- CL A US RPRX 26.98 $1,110.04
STONECO LTD-A BR STNE 576.72 $5,790.25
TRANE TECHNOLOGIES IE TT 9.45 $1,304.59
ALCON INC CH ALC 1,094.58 $81,797.77
CHUBB LTD CH CB 17.27 $3,648.35
GARMIN LTD CH GRMN 12.94 $1,366.81
TE CONNECTIVITY LIMITED CH TEL 12.79 $1,654.77
LYONDELLBASELL INDU-CL A US LYB 14.04 $1,604.22
PLAYA HOTELS AND RESORTS US PLYA 271.04 $2,341.75
US DOLLAR US 666,135.12 $666,135.12
NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 MH 1,897.47 $1,917.45
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 7,058.61 $7,052.16

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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