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

$19.08

Daily $ Change

$0.11

Daily % Change

0.58%

as of 03/23/2023

CUSIP

302028816

Inception Date

09/18/2015

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 02/28/2023

YTD

3.27%

1 Year

-10.53%

3 Year

8.08%

5 Year

7.29%

10 Year

8.35%

Inception
(01/01/2000)

7.26%

Performance through the inception date of the Retirement Target CIT Class S Units 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. The Retirement Target CIT Fund will gradually become more conservative over time. Returns are net of the Class S expenses. 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 0.96%
Net 0.89%*

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

Top Ten Investments

As of 02/28/2023

TREASURY NOTES 13.28%
AMAZON.COM INC 2.54%
MASTERCARD INC-CLASS A 2.20%
SERVICENOW INC 1.99%
MONDELEZ INTERNATIONAL INC 1.96%
JOHNSON & JOHNSON 1.95%
META PLATFORMS INC 1.94%
MEDTRONIC INC 1.89%
COCA COLA CO/THE 1.89%
VISA INC - CLASS A SHARES 1.88%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 02/28/2023

Stocks 80.64%
Bonds 15.23%
Cash 4.13%

Detailed Asset Class Allocation

As of 02/28/2023

International Equities 21.35%
Small Capitalization 1.11%
Mid Capitalization 8.13%
Large Capitalization 50.06%
Long Term Fixed Income 0.47%
Intermediate Term Fixed Income 14.27%
Short Term Fixed Income 0.48%
Cash 4.13%

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

February Fund Holdings

As of 02/28/2023

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 52.89 $5,379.54
ACTIVISION INC US ATVI 1,929.69 $147,138.57
ADIDAS AG-SPONSORED ADR DE ADDYY 1,599.95 $119,884.09
ADMIRAL GROUP PLC GB AMIGY 2,548.84 $68,464.51
ADYEN NV UNSPON ADR NL ADYEY 5,038 $71,438.78
AGREE REALTY CORP US ADC 78.45 $5,552.55
AIR LIQUIDE-ADR FR AIQUY 4,033.17 $128,133.72
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 2,117.67 $2,163.75
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 22,372.9 $18,471.42
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 11,900.48 $9,488.48
ALLSTATE CORPORATION US ALL 21.18 $2,727.93
ALPHABET INC-CL A US GOOGL 3,130.54 $281,936.40
AMAZON.COM INC US AMZN 4,244.19 $399,929.67
AMAZON.COM INC 3.30000 04/13/2027 US 20,944.84 $19,788.96
DIAGEO PLC GB DGE LN 184.31 $7,821.66
BAE SYSTEMS PLC GB BA/ LN 1,789.74 $19,329.52
AMERICAN HOMES 4 RENT- A US AMH 115.24 $3,574.88
AMERICAN TOWER REIT INC US AMT 24.47 $4,844.79
AMERICOLD REALTY TRUST US COLD 160.85 $4,728.90
ANALOG DEVICES INC US ADI 29.66 $5,440.98
APARTMENT INCOME REIT CO US AIRC 92.16 $3,483.55
APPLIED MATERIALS INC US AMAT 1,565.53 $181,836.50
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 2,380.1 $2,376.79
ARCHER-DANIELS-MIDLAND CO US ADM 38.32 $3,050.24
ARGO BLOCKCHAIN PLC GB 171.37 $884.25
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 9,520.38 $8,689.88
ATLASSIAN CORP PLC-CLASS A AU TEAM 57.31 $9,418.20
AUTOMATIC DATA PROCESSING US ADP 21.33 $4,687.81
BAE SYSTEMS PLC -SPON ADR GB BAESY 2,820.32 $123,967.08
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 9,044.36 $8,761.98
BANK OF AMERICA CORP 2.68700 04/22/2032 US 17,136.69 $13,889.77
BARRICK GOLD CORP CA GOLD 3,191.42 $51,445.73
BAXTER INTERNATIONAL INC US BAX 26.94 $1,076.36
BEST BUY INC US BBY 19.61 $1,629.95
BIOMARIN PHARMACEUTICAL INC US BMRN 1,352.99 $134,744.18
BLACKROCK INC US BLK 141.95 $97,863.83
DECHRA PHARMACEUTICALS PLC GB DPH LN 298.04 $9,789.68
BOSTON SCIENTIFIC CORP US BSX 2,264.9 $105,816.08
BRANDYWINE REALTY TRUST US BDN 275.28 $1,621.41
BRENNTAG AG-UNSP ADR DE BNTGY 5,385.06 $80,964.40
BRISTOL MYERS SQUIBB CO US BMY 98.68 $6,804.89
BROADRIDGE FINANCIAL SOLUTIONS US BR 10.62 $1,494.41
JONAH ENERGY PARENT LLC US 94.78 $4,571.02
CBOE GLOBAL MARKETS INC US CBOE 1,123.21 $141,715.99
CDW CORP/DE US CDW 618.44 $125,185.44
C.H. ROBINSON WORLDWIDE INC US CHRW 13.76 $1,375.14
CVS HEALTH CORP US CVS 1,172.72 $97,969.08
COTERRA ENERGY INC US CTRA 55.31 $1,381.18
CAMDEN PROPERTY TRUST US CPT 32.18 $3,692.85
CAMPBELL SOUP CO US CPB 31.66 $1,662.53
CANADIAN NATIONAL RAILWAY CO CA CNI 1,297.34 $147,754.33
CARETRUST REIT INC US CTRE 197.5 $3,884.83
CATERPILLAR INC US CAT 30.08 $7,206.72
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 7,320.17 $137,472.87
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 8,901.56 $9,286.60
CHEVRON CORP US CVX 54.89 $8,823.86
CINCINNATI FINANCIAL CORP US CINF 13.38 $1,614.50
CISCO SYSTEMS INC US CSCO 171.65 $8,311.41
CITIGROUP INC US C 108.48 $5,499.09
CITIGROUP INC 1.46200 06/09/2027 US 16,184.65 $14,176.91
CLARK CNTY NV 1.51000 11/01/2028 US 16,660.67 $13,863.61
COCA COLA CO/THE US KO 5,012.53 $298,295.58
COGNEX CORP US CGNX 1,397.07 $66,248.99
COLGATE-PALMOLIVE CO US CL 50.17 $3,677.64
COMCAST CORP-CL A US CMCSA 185.6 $6,898.75
COMMUNITY HEALTHCARE TRUST I US CHCT 136.9 $5,303.63
CONAGRA BRAND INC. US CAG 46.17 $1,681.19
CONOCOPHILLIPS US COP 52.12 $5,387.02
CONSTELLATION BRANDS INC-A US STZ 879.3 $196,699.96
COOPER COS INC/THE US COO 200.07 $65,417.16
COPART INC US CPRT 1,254.31 $88,378.71
COUSINS PROPERTIES INC US CUZ 216.78 $5,308.92
CUMMINS INC US CMI 11.85 $2,881.20
KIMBERLY CLARK DE MEXICO S.A.B. MX KIMBERA MM 8,320.81 $16,644.81
DEUTSCHE BOERSE AG ADR DE DBOEY 6,697.87 $116,409.73
DEVON ENERGY CORPORATION US DVN 38.41 $2,071.32
DIAMONDBACK ENERGY INC US FANG 12.19 $1,713.12
DIGITAL REALTY TRUST INC US DLR 56.93 $5,934.01
DOLLAR GENERAL CORP US DG 584.27 $126,376.70
DOLLAR TREE STORES INC US DLTR 1,210.9 $175,919.17
DOMINO'S PIZZA US DPZ 511.53 $150,394.97
DOUBLEVERIFY HOLDINGS INC US DV 4,546.74 $119,442.97
DOW INC US DOW 36.46 $2,085.69
DREYFUS GVT CSH MANAGEMENT US 679,782.82 $679,782.82
EOG RESOURCES INC US EOG 28.09 $3,174.18
EAST WEST BANCORP INC US EWBC 1,605.47 $122,352.84
EASTMAN CHEM CO US EMN 12.95 $1,103.15
EBAY INC US EBAY 32.94 $1,511.97
ELECTRONIC ARTS US EA 1,316.76 $146,081.80
EMERSON ELEC CO US EMR 38.56 $3,189.09
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 21,896.88 $21,739.59
EQUINIX INC US EQIX 313.65 $215,875.19
EQUITY COMMONWEALTH US EQC 142.23 $3,019.64
EQUITY LIFESTYLE PROPERTIES US ELS 129.1 $8,844.39
ESSEX PROPERTY TRUST INC US ESS 11.95 $2,724.88
EVERGY INC US EVRG 1,708.38 $100,470.12
FMC CORP US FMC 1,648.22 $212,867.11
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 8,330.33 $8,334.76
META PLATFORMS INC US META 1,751.04 $306,326.28
FIFTH THIRD BANCORP US FITB 58.03 $2,106.37
GENERAL DYNAMICS CORP US GD 17.23 $3,927.32
GENERAL MLS INC US GIS 43.27 $3,440.41
GENUINE PARTS CO US GPC 13.42 $2,374.12
GETTY REALTY CORP US GTY 208.07 $7,142.97
GILEAD SCIENCES INC US GILD 75.93 $6,114.24
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 4,998.2 $4,983.21
GREENIDGE GEN HLD INC US 161.85 $888.54
GRUPO AEROPORTUARIO CEN-ADR MX OMAB 503.3 $39,251.98
GRUPO AEROPORTUARIO PAC-ADR MX PAC 227.06 $43,159.78
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 154.33 $44,164.84
AIRBUS SE FR AIR FP 77.73 $10,180.85
ADIDAS AG DE ADS GR 97.16 $14,509.87
HDFC BANK LTD-ADR IN HDB 2,248.19 $152,067.61
L'OREAL FR OR FP 7.66 $3,029.34
HEALTHCARE REALTY TRUST INC US HR 446.13 $8,699.44
HEINEKEN NV-SPN ADR NL HEINY 2,291.27 $117,106.83
HOME DEPOT INC US HD 35.94 $10,657.48
HONEYWELL INTERNATIONAL INC US HON 34.99 $6,699.39
HUMANA INC US HUM 214.02 $105,943.28
IDEXX LABORATORIES INC US IDXX 220.35 $104,278.07
KERRY GROUP PLC-A IE KYGA ID 117.77 $11,275.60
ILLINOIS TOOL WKS INC US ITW 18.37 $4,284.16
INDEPENDENCE REALTY TRUST IN US IRT 165.18 $2,988.08
INTEL CORP US INTC 179.51 $4,475.10
INTERCONTINENTALEXCHANGE INC US ICE 1,282.87 $130,596.32
INTERNATIONAL FLVRS & FRAGRANCES US IFF 19.66 $1,832.27
INTUIT INC US INTU 329.21 $134,049.69
INTUITIVE SURGICAL INC US ISRG 583.31 $133,806.35
INVITATION HOMES INC US INVH 203.97 $6,376.23
JP MORGAN CHASE & CO US JPM 853.36 $122,329.08
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 24,276.97 $22,887.74
JOHNSON & JOHNSON US JNJ 2,009.94 $308,043.87
KEYCORP US KEY 60.69 $1,110.06
KROGER CO US KR 51.51 $2,221.94
L3HARRIS TECHNOLOGIES INC US LHX 668.28 $141,134.73
BEIERSDORF AG DE BEI GR 90.02 $10,742.92
LENNAR CORP US LEN 18.23 $1,763.72
LEXINGTON REALTY TRUST US LXP 328.98 $3,431.23
LIFE STORAGE INC US LSI 50.93 $6,138.57
LOCKHEED MARTIN CORP US LMT 13.47 $6,388.92
LULULEMON - ADR CA LULU 440.32 $136,146.22
MAGALLANES INC 4.05400 03/15/2029 US 22,848.92 $20,415.93
MARATHON PETROLEUM CORP US MPC 30.8 $3,806.69
MARRIOTT VACATIONS WORLD US VAC 16.14 $2,468.81
MASCO CORP US MAS 2,152.32 $112,846.16
MASTERCARD INC-CLASS A US MA 975.7 $346,655.15
MCDONALDS CORP US MCD 24.18 $6,381.81
MERCADOLIBRE INC BR MELI 102.92 $125,556.70
MERCK & CO INC US MRK 104.44 $11,095.56
MICROSOFT CORP US MSFT 885.3 $220,811.61
MICROCHIP TECHNOLOGY INC US MCHP 29.56 $2,395.31
MICRON TECHNOLOGY INC US MU 2,412.89 $139,513.49
MID-AMERICA APARTMENT COMM US MAA 45.41 $7,270.50
MONDELEZ INTERNATIONAL INC US MDLZ 4,748.29 $309,493.58
MOODY'S CORPORATION US MCO 981.27 $284,714.26
MOTOROLA SOLUTIONS INC US MSI 12.19 $3,202.63
NAVIENT CORP 6.75000 06/25/2025 US 8,806.35 $8,682.97
NESTLE S.A. - ADR CH NSRGY 1,695.1 $190,724.63
NETAPP INC US NTAP 21.14 $1,364.28
KEYENCE CORP JP 6861 JP 23.8 $10,287.42
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 9,996.4 $9,102.98
NEWMONT GOLDCORP CORP US NEM 978.65 $42,678.82
NIKE INC CLASS B US NKE 929.57 $110,423.63
NORFOLK SOUTHN CORP US NSC 450.03 $101,175.40
NIKON CORP JP 7731 JP 685.47 $6,789.33
NORTHROP GRUMMAN CORP US NOC 327.31 $151,908.18
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 6,902.28 $0.69
NOVARTIS AG- REG CH NVS 1,369.22 $115,178.90
NUCOR CORP US NUE 18.66 $3,124.42
OMNICOM GROUP US OMC 20.04 $1,815.06
SONY CORP FIRST SECTION JP 6758 JP 195.17 $16,319.25
TOKYO ELECTRON LTD JP 8035 JP 23.8 $8,166.16
PPG INDUSTRIES INC US PPG 13.09 $1,728.73
PACKAGING CORP OF AMERICA US PKG 9.62 $1,314.64
PARKER HANNIFIN CORP US PH 7 $2,462.06
DEUTSCHE BOERSE AG DE DB1 GR 93.06 $16,227.55
PAYPAL HOLDINGS INC US PYPL 1,935.97 $142,487.37
PELORUS FUND REIT 7.00000 09/30/2026 US 9,044.36 $8,456.21
NESTLE SA-REGISTERED CH NESN SW 129.19 $14,556.10
PEPSICO INC 3.90000 07/18/2032 US 17,612.71 $16,537.08
PFIZER INC US PFE 155.85 $6,322.78
PIONEER NATURAL RESOURCES CO US PXD 12.33 $2,470.83
POPULAR INC 6.12500 09/14/2023 PR 7,616.31 $7,581.41
PROCTER & GAMBLE CO US PG 82.11 $11,295.50
PROLOGIS US PLD 286.28 $35,326.69
PUBLIC STORAGE INC US PSA 42.51 $12,707.92
QUALCOMM INC US QCOM 52.41 $6,474.17
QUALCOMM 5.40000 05/20/2033 US 18,564.74 $19,118.61
QUEST DIAGNOSTICS INC US DGX 12.14 $1,679.48
RADIUS GLOBAL INFRASTRUCTURE US RADI 950.71 $12,958.11
REALTY INCOME CORP US O 82.59 $5,281.59
REGIONS FINANCIAL CORP. US RF 88.25 $2,058.08
REPUBLIC SERVICES INC US RSG 22.71 $2,927.50
RESTAURANT BRANDS INTERN CA QSR 144.57 $9,323.13
REXFORD INDUSTRIAL REALITY IN US REXR 137.95 $8,340.48
GETINGE AB-B SHS SE GETIB SS 696.32 $14,966.16
ROSS STORES INC US ROST 20.14 $2,225.79
HEINEKEN NV NL HEIA NA 109.67 $11,178.99
SBA TOWER TRUST 6.59900 01/15/2028 US 14,994.6 $15,476.13
S&P GLOBAL INC US SPGI 611.97 $208,804.22
SBA COMMUNICATIONS CORP US SBAC 771.96 $200,207.87
SVB FINANCIAL GROUP US SIVB 359.44 $103,558.84
SALESFORCE INC US CRM 858.64 $140,482.62
SEAGEN INC US SGEN 388.91 $69,882.81
SERVICENOW INC US NOW 727.88 $314,568.25
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 29,989.2 $24,235.66
SKYWORKS SOLUTIONS INC US SWKS 11.09 $1,237.45
JM SMUCKER CO/THE-NEW COM WI US SJM 10.85 $1,605.08
SNOWFLAKE INC-CLASS A US SNOW 1,537.35 $237,336.29
SONY CORP SPONSORED ADR JP SONY 1,747.42 $146,049.24
STAG INDUSTRIAL INC US STAG 62.36 $2,097.74
STANLEY BLACK & DECKER INC US SWK 9.66 $827.27
STEEL DYNAMICS INC US STLD 18.47 $2,329.19
SUN COMMUNITIES US SUI 73.5 $10,520.41
SYNCHRONOSS TECH US 269.52 $4,972.68
SYNERGY ONE LENDING 5.50000 10/14/2026 US 8,330.33 $7,270.82
TJX COMPANIES INC US TJX 51.03 $3,908.84
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 2,020.7 $175,942.44
TARGET CORP US TGT 17.28 $2,911.59
TENCENT HOLDINGS 3.97500 04/11/2029 KY 38,557.55 $35,356.14
TERRENO REALTY CORP US TRNO 119.53 $7,435.86
TEXAS INSTRUMENTS INC US TXN 30.37 $5,206.94
THERMO FISHER SCIENTIFIC INC US TMO 303.22 $164,274.72
3M CO US MMM 32.65 $3,518.24
TRACTOR SUPPLY COMPANY US TSCO 6.9 $1,610.03
TRAVELLERS COS INC US TRV 18.33 $3,392.65
TYSON FOODS INC -CL A US TSN 28.13 $1,666.58
UDR INC US UDR 127.72 $5,471.35
U.S. BANCORP US USB 88.02 $4,201.00
UBISOFT ENTERTAIN-UNSPON ADR FR UBSFY 17,638.36 $76,726.88
UNILEVER PLC - ADR GB UL 3,714.33 $185,456.47
UNION PAC CORP US UNP 29.94 $6,206.30
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 9,600.48 $8,612.27
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 1,054.23 $1,003.47
UNITED PARCEL SERVICE US UPS 28.99 $5,290.31
US TREASURY N/B 3.12500 11/15/2028 US 407,472.35 $386,111.89
US TEASURY NOTE 1.75000 11/15/2029 US 1,031,533.39 $897,111.69
US TREASURY N/B 0.87500 11/15/2030 US 811,612.56 $648,148.72
US TREASURY N/B 1.37500 11/15/2031 US 201,118.07 $163,596.98
UNITEDHEALTH GROUP INC US UNH 134.57 $64,047.53
VF CORP US VFC 24.8 $615.55
VENTAS INC US VTR 86.97 $4,231.03
VERTEX PHARMACEUTICALS INC US VRTX 374.77 $108,791.94
PARAMOUNT GLOBAL CLASS B US PARA 38.03 $814.69
VISA INC - CLASS A SHARES US V 1,345.28 $295,880.35
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 4,284.17 $4,113.11
VISTRA OPERATIONS 4.87500 05/13/2024 US 16,184.65 $15,917.49
WAL MART STORES US WMT 90.49 $12,861.52
WALGREENS BOOTS ALLIANCE INC US WBA 48.98 $1,740.34
WASTE MANAGEMENT INC US WM 25.51 $3,821.07
WELLTOWER INC. US WELL 87.44 $6,481.40
ZOETIS INC US ZTS 310.94 $51,926.26
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 261.81 $2,607.44
ADMIRAL GROUP PLC GB ADM LN 703.13 $18,606.19
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 247.53 $2,366.73
UBISOFT ENTERTAINMENT FR UBI FP 289.94 $6,357.02
DANONE FR BN FP 117.58 $6,609.27
AIR LIQUIDE FR AI FP 116.43 $18,498.66
BRENNTAG AG DE BNR GR 83.87 $6,317.70
KEYWORDS STUDIOS PLC IE KWS LN 88.83 $3,099.36
MEITUAN DIANPING - CLASS B CN 3690 HK 23.8 $413.06
HELIOS TOWERS PLC GB HTWS LN 2,207.73 $2,914.39
AVANZA BANK HOLDING AB SE AZA SS 433.7 $11,470.43
AMERICAN TANKER INC 7.75000 07/02/2025 US 8,092.32 $7,804.87
SOFTWAREONE HOLDING AG CH SWON SW 623.54 $10,388.17
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 1,136.07 $6,138.72
TENCENT HOLDINGS LTD CN 700 HK 190.41 $8,364.30
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 252.43 $4,720.50
SEASPAN CORP 6.50000 02/05/2024 MH 9,520.38 $9,524.44
PETROTAL CORP 12.00000 02/16/2024 CA 4,450.78 $4,562.05
IMCD NV NL IMCD NA 19.52 $3,089.34
FINECOBANK SPA IT FBK IM 828.32 $14,313.78
ALLFUNDS GROUP PLC GB ALLFG NA 763.58 $6,650.94
AUTO TRADER GROUP PLC GB AUTO LN 2,346.25 $16,780.58
CELLNEX TELECOM SA ES CLNX SM 243.58 $9,138.79
ASSA ABLOY AB-B SE ASSAB SS 472.88 $11,506.89
CLEANAWAY WASTE MANAGEMENT AU CWY AU 6,888.47 $12,283.98
INTERMEDIATE CAPITAL GROUP GB ICP LN 743.4 $12,515.14
ADYEN NV NL ADYEN NA 4.67 $6,612.29
BANK OF N.T. BUTTERFIELD&SON BM NTB 203.45 $7,354.74
BUNGE LIMITED US BG 14.04 $1,341.06
EATON CORP PLC US ETN 26.7 $4,671.45
JOHNSON CONTROLS INTERNATIONAL US JCI 51.31 $3,218.47
LINDE PLC IE LIN 233.34 $81,290.25
MEDTRONIC INC IE MDT 3,605.8 $298,560.00
RENAISSANCERE HOLDINGS LTD BM RNR 33.04 $7,099.38
ROYALTY PHARMA PLC- CL A US RPRX 37.46 $1,343.04
STONECO LTD-A BR STNE 283.76 $2,414.75
TRANE TECHNOLOGIES IE TT 12.42 $2,298.09
ALCON INC CH ALC 1,338.99 $91,372.96
CHUBB LTD CH CB 26.51 $5,595.04
GARMIN LTD CH GRMN 16.57 $1,625.57
TE CONNECTIVITY LIMITED CH TEL 16.52 $2,103.05
LYONDELLBASELL INDU-CL A US LYB 18.71 $1,795.74
PLAYA HOTELS AND RESORTS US PLYA 260.33 $2,322.19
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 8,520.74 $7,653.29

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

$19.08

Daily $ Change

$0.11

Daily % Change

0.58%

as of 03/23/2023

CUSIP

302028816

Inception Date

09/18/2015

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 02/28/2023

YTD

3.27%

1 Year

-10.53%

3 Year

8.08%

5 Year

7.29%

10 Year

8.35%

Inception
(01/01/2000)

7.26%

Performance through the inception date of the Retirement Target CIT Class S Units 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. The Retirement Target CIT Fund will gradually become more conservative over time. Returns are net of the Class S expenses. 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 0.96%
Net 0.89%*

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

Top Ten Investments

As of 02/28/2023

TREASURY NOTES 13.28%
AMAZON.COM INC 2.54%
MASTERCARD INC-CLASS A 2.20%
SERVICENOW INC 1.99%
MONDELEZ INTERNATIONAL INC 1.96%
JOHNSON & JOHNSON 1.95%
META PLATFORMS INC 1.94%
MEDTRONIC INC 1.89%
COCA COLA CO/THE 1.89%
VISA INC - CLASS A SHARES 1.88%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 02/28/2023

Stocks
80.64%
Bonds
15.23%
Cash
4.13%

Detailed Asset Class Allocation

As of 02/28/2023

International Equities
21.35%
Small Capitalization
1.11%
Mid Capitalization
8.13%
Large Capitalization
50.06%
Long Term Fixed Income
0.47%
Intermediate Term Fixed Income
14.27%
Short Term Fixed Income
0.48%
Cash
4.13%

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

February Fund Holdings

As of 02/28/2023

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 52.89 $5,379.54
ACTIVISION INC US ATVI 1,929.69 $147,138.57
ADIDAS AG-SPONSORED ADR DE ADDYY 1,599.95 $119,884.09
ADMIRAL GROUP PLC GB AMIGY 2,548.84 $68,464.51
ADYEN NV UNSPON ADR NL ADYEY 5,038 $71,438.78
AGREE REALTY CORP US ADC 78.45 $5,552.55
AIR LIQUIDE-ADR FR AIQUY 4,033.17 $128,133.72
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 2,117.67 $2,163.75
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 22,372.9 $18,471.42
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 11,900.48 $9,488.48
ALLSTATE CORPORATION US ALL 21.18 $2,727.93
ALPHABET INC-CL A US GOOGL 3,130.54 $281,936.40
AMAZON.COM INC US AMZN 4,244.19 $399,929.67
AMAZON.COM INC 3.30000 04/13/2027 US 20,944.84 $19,788.96
DIAGEO PLC GB DGE LN 184.31 $7,821.66
BAE SYSTEMS PLC GB BA/ LN 1,789.74 $19,329.52
AMERICAN HOMES 4 RENT- A US AMH 115.24 $3,574.88
AMERICAN TOWER REIT INC US AMT 24.47 $4,844.79
AMERICOLD REALTY TRUST US COLD 160.85 $4,728.90
ANALOG DEVICES INC US ADI 29.66 $5,440.98
APARTMENT INCOME REIT CO US AIRC 92.16 $3,483.55
APPLIED MATERIALS INC US AMAT 1,565.53 $181,836.50
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 2,380.1 $2,376.79
ARCHER-DANIELS-MIDLAND CO US ADM 38.32 $3,050.24
ARGO BLOCKCHAIN PLC GB 171.37 $884.25
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 9,520.38 $8,689.88
ATLASSIAN CORP PLC-CLASS A AU TEAM 57.31 $9,418.20
AUTOMATIC DATA PROCESSING US ADP 21.33 $4,687.81
BAE SYSTEMS PLC -SPON ADR GB BAESY 2,820.32 $123,967.08
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 9,044.36 $8,761.98
BANK OF AMERICA CORP 2.68700 04/22/2032 US 17,136.69 $13,889.77
BARRICK GOLD CORP CA GOLD 3,191.42 $51,445.73
BAXTER INTERNATIONAL INC US BAX 26.94 $1,076.36
BEST BUY INC US BBY 19.61 $1,629.95
BIOMARIN PHARMACEUTICAL INC US BMRN 1,352.99 $134,744.18
BLACKROCK INC US BLK 141.95 $97,863.83
DECHRA PHARMACEUTICALS PLC GB DPH LN 298.04 $9,789.68
BOSTON SCIENTIFIC CORP US BSX 2,264.9 $105,816.08
BRANDYWINE REALTY TRUST US BDN 275.28 $1,621.41
BRENNTAG AG-UNSP ADR DE BNTGY 5,385.06 $80,964.40
BRISTOL MYERS SQUIBB CO US BMY 98.68 $6,804.89
BROADRIDGE FINANCIAL SOLUTIONS US BR 10.62 $1,494.41
JONAH ENERGY PARENT LLC US 94.78 $4,571.02
CBOE GLOBAL MARKETS INC US CBOE 1,123.21 $141,715.99
CDW CORP/DE US CDW 618.44 $125,185.44
C.H. ROBINSON WORLDWIDE INC US CHRW 13.76 $1,375.14
CVS HEALTH CORP US CVS 1,172.72 $97,969.08
COTERRA ENERGY INC US CTRA 55.31 $1,381.18
CAMDEN PROPERTY TRUST US CPT 32.18 $3,692.85
CAMPBELL SOUP CO US CPB 31.66 $1,662.53
CANADIAN NATIONAL RAILWAY CO CA CNI 1,297.34 $147,754.33
CARETRUST REIT INC US CTRE 197.5 $3,884.83
CATERPILLAR INC US CAT 30.08 $7,206.72
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 7,320.17 $137,472.87
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 8,901.56 $9,286.60
CHEVRON CORP US CVX 54.89 $8,823.86
CINCINNATI FINANCIAL CORP US CINF 13.38 $1,614.50
CISCO SYSTEMS INC US CSCO 171.65 $8,311.41
CITIGROUP INC US C 108.48 $5,499.09
CITIGROUP INC 1.46200 06/09/2027 US 16,184.65 $14,176.91
CLARK CNTY NV 1.51000 11/01/2028 US 16,660.67 $13,863.61
COCA COLA CO/THE US KO 5,012.53 $298,295.58
COGNEX CORP US CGNX 1,397.07 $66,248.99
COLGATE-PALMOLIVE CO US CL 50.17 $3,677.64
COMCAST CORP-CL A US CMCSA 185.6 $6,898.75
COMMUNITY HEALTHCARE TRUST I US CHCT 136.9 $5,303.63
CONAGRA BRAND INC. US CAG 46.17 $1,681.19
CONOCOPHILLIPS US COP 52.12 $5,387.02
CONSTELLATION BRANDS INC-A US STZ 879.3 $196,699.96
COOPER COS INC/THE US COO 200.07 $65,417.16
COPART INC US CPRT 1,254.31 $88,378.71
COUSINS PROPERTIES INC US CUZ 216.78 $5,308.92
CUMMINS INC US CMI 11.85 $2,881.20
KIMBERLY CLARK DE MEXICO S.A.B. MX KIMBERA MM 8,320.81 $16,644.81
DEUTSCHE BOERSE AG ADR DE DBOEY 6,697.87 $116,409.73
DEVON ENERGY CORPORATION US DVN 38.41 $2,071.32
DIAMONDBACK ENERGY INC US FANG 12.19 $1,713.12
DIGITAL REALTY TRUST INC US DLR 56.93 $5,934.01
DOLLAR GENERAL CORP US DG 584.27 $126,376.70
DOLLAR TREE STORES INC US DLTR 1,210.9 $175,919.17
DOMINO'S PIZZA US DPZ 511.53 $150,394.97
DOUBLEVERIFY HOLDINGS INC US DV 4,546.74 $119,442.97
DOW INC US DOW 36.46 $2,085.69
DREYFUS GVT CSH MANAGEMENT US 679,782.82 $679,782.82
EOG RESOURCES INC US EOG 28.09 $3,174.18
EAST WEST BANCORP INC US EWBC 1,605.47 $122,352.84
EASTMAN CHEM CO US EMN 12.95 $1,103.15
EBAY INC US EBAY 32.94 $1,511.97
ELECTRONIC ARTS US EA 1,316.76 $146,081.80
EMERSON ELEC CO US EMR 38.56 $3,189.09
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 21,896.88 $21,739.59
EQUINIX INC US EQIX 313.65 $215,875.19
EQUITY COMMONWEALTH US EQC 142.23 $3,019.64
EQUITY LIFESTYLE PROPERTIES US ELS 129.1 $8,844.39
ESSEX PROPERTY TRUST INC US ESS 11.95 $2,724.88
EVERGY INC US EVRG 1,708.38 $100,470.12
FMC CORP US FMC 1,648.22 $212,867.11
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 8,330.33 $8,334.76
META PLATFORMS INC US META 1,751.04 $306,326.28
FIFTH THIRD BANCORP US FITB 58.03 $2,106.37
GENERAL DYNAMICS CORP US GD 17.23 $3,927.32
GENERAL MLS INC US GIS 43.27 $3,440.41
GENUINE PARTS CO US GPC 13.42 $2,374.12
GETTY REALTY CORP US GTY 208.07 $7,142.97
GILEAD SCIENCES INC US GILD 75.93 $6,114.24
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 4,998.2 $4,983.21
GREENIDGE GEN HLD INC US 161.85 $888.54
GRUPO AEROPORTUARIO CEN-ADR MX OMAB 503.3 $39,251.98
GRUPO AEROPORTUARIO PAC-ADR MX PAC 227.06 $43,159.78
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 154.33 $44,164.84
AIRBUS SE FR AIR FP 77.73 $10,180.85
ADIDAS AG DE ADS GR 97.16 $14,509.87
HDFC BANK LTD-ADR IN HDB 2,248.19 $152,067.61
L'OREAL FR OR FP 7.66 $3,029.34
HEALTHCARE REALTY TRUST INC US HR 446.13 $8,699.44
HEINEKEN NV-SPN ADR NL HEINY 2,291.27 $117,106.83
HOME DEPOT INC US HD 35.94 $10,657.48
HONEYWELL INTERNATIONAL INC US HON 34.99 $6,699.39
HUMANA INC US HUM 214.02 $105,943.28
IDEXX LABORATORIES INC US IDXX 220.35 $104,278.07
KERRY GROUP PLC-A IE KYGA ID 117.77 $11,275.60
ILLINOIS TOOL WKS INC US ITW 18.37 $4,284.16
INDEPENDENCE REALTY TRUST IN US IRT 165.18 $2,988.08
INTEL CORP US INTC 179.51 $4,475.10
INTERCONTINENTALEXCHANGE INC US ICE 1,282.87 $130,596.32
INTERNATIONAL FLVRS & FRAGRANCES US IFF 19.66 $1,832.27
INTUIT INC US INTU 329.21 $134,049.69
INTUITIVE SURGICAL INC US ISRG 583.31 $133,806.35
INVITATION HOMES INC US INVH 203.97 $6,376.23
JP MORGAN CHASE & CO US JPM 853.36 $122,329.08
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 24,276.97 $22,887.74
JOHNSON & JOHNSON US JNJ 2,009.94 $308,043.87
KEYCORP US KEY 60.69 $1,110.06
KROGER CO US KR 51.51 $2,221.94
L3HARRIS TECHNOLOGIES INC US LHX 668.28 $141,134.73
BEIERSDORF AG DE BEI GR 90.02 $10,742.92
LENNAR CORP US LEN 18.23 $1,763.72
LEXINGTON REALTY TRUST US LXP 328.98 $3,431.23
LIFE STORAGE INC US LSI 50.93 $6,138.57
LOCKHEED MARTIN CORP US LMT 13.47 $6,388.92
LULULEMON - ADR CA LULU 440.32 $136,146.22
MAGALLANES INC 4.05400 03/15/2029 US 22,848.92 $20,415.93
MARATHON PETROLEUM CORP US MPC 30.8 $3,806.69
MARRIOTT VACATIONS WORLD US VAC 16.14 $2,468.81
MASCO CORP US MAS 2,152.32 $112,846.16
MASTERCARD INC-CLASS A US MA 975.7 $346,655.15
MCDONALDS CORP US MCD 24.18 $6,381.81
MERCADOLIBRE INC BR MELI 102.92 $125,556.70
MERCK & CO INC US MRK 104.44 $11,095.56
MICROSOFT CORP US MSFT 885.3 $220,811.61
MICROCHIP TECHNOLOGY INC US MCHP 29.56 $2,395.31
MICRON TECHNOLOGY INC US MU 2,412.89 $139,513.49
MID-AMERICA APARTMENT COMM US MAA 45.41 $7,270.50
MONDELEZ INTERNATIONAL INC US MDLZ 4,748.29 $309,493.58
MOODY'S CORPORATION US MCO 981.27 $284,714.26
MOTOROLA SOLUTIONS INC US MSI 12.19 $3,202.63
NAVIENT CORP 6.75000 06/25/2025 US 8,806.35 $8,682.97
NESTLE S.A. - ADR CH NSRGY 1,695.1 $190,724.63
NETAPP INC US NTAP 21.14 $1,364.28
KEYENCE CORP JP 6861 JP 23.8 $10,287.42
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 9,996.4 $9,102.98
NEWMONT GOLDCORP CORP US NEM 978.65 $42,678.82
NIKE INC CLASS B US NKE 929.57 $110,423.63
NORFOLK SOUTHN CORP US NSC 450.03 $101,175.40
NIKON CORP JP 7731 JP 685.47 $6,789.33
NORTHROP GRUMMAN CORP US NOC 327.31 $151,908.18
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 6,902.28 $0.69
NOVARTIS AG- REG CH NVS 1,369.22 $115,178.90
NUCOR CORP US NUE 18.66 $3,124.42
OMNICOM GROUP US OMC 20.04 $1,815.06
SONY CORP FIRST SECTION JP 6758 JP 195.17 $16,319.25
TOKYO ELECTRON LTD JP 8035 JP 23.8 $8,166.16
PPG INDUSTRIES INC US PPG 13.09 $1,728.73
PACKAGING CORP OF AMERICA US PKG 9.62 $1,314.64
PARKER HANNIFIN CORP US PH 7 $2,462.06
DEUTSCHE BOERSE AG DE DB1 GR 93.06 $16,227.55
PAYPAL HOLDINGS INC US PYPL 1,935.97 $142,487.37
PELORUS FUND REIT 7.00000 09/30/2026 US 9,044.36 $8,456.21
NESTLE SA-REGISTERED CH NESN SW 129.19 $14,556.10
PEPSICO INC 3.90000 07/18/2032 US 17,612.71 $16,537.08
PFIZER INC US PFE 155.85 $6,322.78
PIONEER NATURAL RESOURCES CO US PXD 12.33 $2,470.83
POPULAR INC 6.12500 09/14/2023 PR 7,616.31 $7,581.41
PROCTER & GAMBLE CO US PG 82.11 $11,295.50
PROLOGIS US PLD 286.28 $35,326.69
PUBLIC STORAGE INC US PSA 42.51 $12,707.92
QUALCOMM INC US QCOM 52.41 $6,474.17
QUALCOMM 5.40000 05/20/2033 US 18,564.74 $19,118.61
QUEST DIAGNOSTICS INC US DGX 12.14 $1,679.48
RADIUS GLOBAL INFRASTRUCTURE US RADI 950.71 $12,958.11
REALTY INCOME CORP US O 82.59 $5,281.59
REGIONS FINANCIAL CORP. US RF 88.25 $2,058.08
REPUBLIC SERVICES INC US RSG 22.71 $2,927.50
RESTAURANT BRANDS INTERN CA QSR 144.57 $9,323.13
REXFORD INDUSTRIAL REALITY IN US REXR 137.95 $8,340.48
GETINGE AB-B SHS SE GETIB SS 696.32 $14,966.16
ROSS STORES INC US ROST 20.14 $2,225.79
HEINEKEN NV NL HEIA NA 109.67 $11,178.99
SBA TOWER TRUST 6.59900 01/15/2028 US 14,994.6 $15,476.13
S&P GLOBAL INC US SPGI 611.97 $208,804.22
SBA COMMUNICATIONS CORP US SBAC 771.96 $200,207.87
SVB FINANCIAL GROUP US SIVB 359.44 $103,558.84
SALESFORCE INC US CRM 858.64 $140,482.62
SEAGEN INC US SGEN 388.91 $69,882.81
SERVICENOW INC US NOW 727.88 $314,568.25
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 29,989.2 $24,235.66
SKYWORKS SOLUTIONS INC US SWKS 11.09 $1,237.45
JM SMUCKER CO/THE-NEW COM WI US SJM 10.85 $1,605.08
SNOWFLAKE INC-CLASS A US SNOW 1,537.35 $237,336.29
SONY CORP SPONSORED ADR JP SONY 1,747.42 $146,049.24
STAG INDUSTRIAL INC US STAG 62.36 $2,097.74
STANLEY BLACK & DECKER INC US SWK 9.66 $827.27
STEEL DYNAMICS INC US STLD 18.47 $2,329.19
SUN COMMUNITIES US SUI 73.5 $10,520.41
SYNCHRONOSS TECH US 269.52 $4,972.68
SYNERGY ONE LENDING 5.50000 10/14/2026 US 8,330.33 $7,270.82
TJX COMPANIES INC US TJX 51.03 $3,908.84
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 2,020.7 $175,942.44
TARGET CORP US TGT 17.28 $2,911.59
TENCENT HOLDINGS 3.97500 04/11/2029 KY 38,557.55 $35,356.14
TERRENO REALTY CORP US TRNO 119.53 $7,435.86
TEXAS INSTRUMENTS INC US TXN 30.37 $5,206.94
THERMO FISHER SCIENTIFIC INC US TMO 303.22 $164,274.72
3M CO US MMM 32.65 $3,518.24
TRACTOR SUPPLY COMPANY US TSCO 6.9 $1,610.03
TRAVELLERS COS INC US TRV 18.33 $3,392.65
TYSON FOODS INC -CL A US TSN 28.13 $1,666.58
UDR INC US UDR 127.72 $5,471.35
U.S. BANCORP US USB 88.02 $4,201.00
UBISOFT ENTERTAIN-UNSPON ADR FR UBSFY 17,638.36 $76,726.88
UNILEVER PLC - ADR GB UL 3,714.33 $185,456.47
UNION PAC CORP US UNP 29.94 $6,206.30
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 9,600.48 $8,612.27
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 1,054.23 $1,003.47
UNITED PARCEL SERVICE US UPS 28.99 $5,290.31
US TREASURY N/B 3.12500 11/15/2028 US 407,472.35 $386,111.89
US TEASURY NOTE 1.75000 11/15/2029 US 1,031,533.39 $897,111.69
US TREASURY N/B 0.87500 11/15/2030 US 811,612.56 $648,148.72
US TREASURY N/B 1.37500 11/15/2031 US 201,118.07 $163,596.98
UNITEDHEALTH GROUP INC US UNH 134.57 $64,047.53
VF CORP US VFC 24.8 $615.55
VENTAS INC US VTR 86.97 $4,231.03
VERTEX PHARMACEUTICALS INC US VRTX 374.77 $108,791.94
PARAMOUNT GLOBAL CLASS B US PARA 38.03 $814.69
VISA INC - CLASS A SHARES US V 1,345.28 $295,880.35
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 4,284.17 $4,113.11
VISTRA OPERATIONS 4.87500 05/13/2024 US 16,184.65 $15,917.49
WAL MART STORES US WMT 90.49 $12,861.52
WALGREENS BOOTS ALLIANCE INC US WBA 48.98 $1,740.34
WASTE MANAGEMENT INC US WM 25.51 $3,821.07
WELLTOWER INC. US WELL 87.44 $6,481.40
ZOETIS INC US ZTS 310.94 $51,926.26
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 261.81 $2,607.44
ADMIRAL GROUP PLC GB ADM LN 703.13 $18,606.19
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 247.53 $2,366.73
UBISOFT ENTERTAINMENT FR UBI FP 289.94 $6,357.02
DANONE FR BN FP 117.58 $6,609.27
AIR LIQUIDE FR AI FP 116.43 $18,498.66
BRENNTAG AG DE BNR GR 83.87 $6,317.70
KEYWORDS STUDIOS PLC IE KWS LN 88.83 $3,099.36
MEITUAN DIANPING - CLASS B CN 3690 HK 23.8 $413.06
HELIOS TOWERS PLC GB HTWS LN 2,207.73 $2,914.39
AVANZA BANK HOLDING AB SE AZA SS 433.7 $11,470.43
AMERICAN TANKER INC 7.75000 07/02/2025 US 8,092.32 $7,804.87
SOFTWAREONE HOLDING AG CH SWON SW 623.54 $10,388.17
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 1,136.07 $6,138.72
TENCENT HOLDINGS LTD CN 700 HK 190.41 $8,364.30
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 252.43 $4,720.50
SEASPAN CORP 6.50000 02/05/2024 MH 9,520.38 $9,524.44
PETROTAL CORP 12.00000 02/16/2024 CA 4,450.78 $4,562.05
IMCD NV NL IMCD NA 19.52 $3,089.34
FINECOBANK SPA IT FBK IM 828.32 $14,313.78
ALLFUNDS GROUP PLC GB ALLFG NA 763.58 $6,650.94
AUTO TRADER GROUP PLC GB AUTO LN 2,346.25 $16,780.58
CELLNEX TELECOM SA ES CLNX SM 243.58 $9,138.79
ASSA ABLOY AB-B SE ASSAB SS 472.88 $11,506.89
CLEANAWAY WASTE MANAGEMENT AU CWY AU 6,888.47 $12,283.98
INTERMEDIATE CAPITAL GROUP GB ICP LN 743.4 $12,515.14
ADYEN NV NL ADYEN NA 4.67 $6,612.29
BANK OF N.T. BUTTERFIELD&SON BM NTB 203.45 $7,354.74
BUNGE LIMITED US BG 14.04 $1,341.06
EATON CORP PLC US ETN 26.7 $4,671.45
JOHNSON CONTROLS INTERNATIONAL US JCI 51.31 $3,218.47
LINDE PLC IE LIN 233.34 $81,290.25
MEDTRONIC INC IE MDT 3,605.8 $298,560.00
RENAISSANCERE HOLDINGS LTD BM RNR 33.04 $7,099.38
ROYALTY PHARMA PLC- CL A US RPRX 37.46 $1,343.04
STONECO LTD-A BR STNE 283.76 $2,414.75
TRANE TECHNOLOGIES IE TT 12.42 $2,298.09
ALCON INC CH ALC 1,338.99 $91,372.96
CHUBB LTD CH CB 26.51 $5,595.04
GARMIN LTD CH GRMN 16.57 $1,625.57
TE CONNECTIVITY LIMITED CH TEL 16.52 $2,103.05
LYONDELLBASELL INDU-CL A US LYB 18.71 $1,795.74
PLAYA HOTELS AND RESORTS US PLYA 260.33 $2,322.19
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 8,520.74 $7,653.29

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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