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 15% - 45%.

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

$22.51

Daily $ Change

-$0.01

Daily % Change

-0.04%

as of 09/16/2021

CUSIP

302028782

Inception Date

10/22/2015

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

Important Documents

Annual Report
Applications & Forms

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

Performance

As of 08/31/2021

YTD

16.74%

1 Year

27.90%

3 Year

17.50%

5 Year

15.94%

10 Year

12.85%

Inception
(01/01/2000)

9.18%

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

Expense Ratio

Gross 0.58%
Net 0.49%*

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

Top Ten Investments

As of 08/31/2021

TREASURY NOTES 5.53%
FACEBOOK INC -A 2.92%
AMAZON.COM INC 2.78%
ALPHABET INC-CL A 2.42%
MICROSOFT CORP 2.26%
SERVICENOW INC 2.21%
SEA LTD - ADR 2.17%
PAYPAL HOLDINGS INC 1.88%
MASTERCARD INC-CLASS A 1.82%
COCA COLA CO/THE 1.73%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 08/31/2021

Stocks 88.32%
Bonds 9.39%
Cash 2.29%

Detailed Asset Class Allocation

As of 08/31/2021

International Equities 22.92%
Small Capitalization 1.49%
Mid Capitalization 8.06%
Large Capitalization 55.85%
Long Term Fixed Income 1.04%
Intermediate Term Fixed Income 8.19%
Short Term Fixed Income 0.16%
Cash 2.29%

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 08/31/2021

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00435F309 ACCOR SA-SPONSORED ADR FR ACCYY 6,636.37 $45,392.76
00507V109 ACTIVISION INC US ATVI 816.33 $67,240.70
00724F101 ADOBE INC US ADBE 104.86 $69,598.03
008492100 AGREE REALTY CORP US ADC 39.5 $2,944.39
009126202 AIR LIQUIDE-ADR FR AIQUY 2,302.7 $82,528.80
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 5,058.9 $5,467.93
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 2,017.83 $2,272.13
01609WAU6 ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 9,756.44 $10,907.06
016255101 ALIGN TECHNOLOGY INC US ALGN 136.55 $96,816.82
01879NAA3 ALLIANCE RES OP/FINANCE 7.50000 05/01/2025 US 903.37 $910.33
020002101 ALLSTATE CORPORATION US ALL 16.84 $2,277.97
02079K107 ALPHABET INC-CL C US GOOG 10.52 $30,591.46
02079K305 ALPHABET INC-CL A US GOOGL 102.62 $296,986.74
023135106 AMAZON.COM INC US AMZN 98.29 $341,133.94
0237400 DIAGEO PLC GB DGE LN 2,160.47 $103,859.75
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 66.02 $3,357.05
025816109 AMERICAN EXPRESS CO US AXP 529.7 $87,909.43
02665T306 AMERICAN HOMES 4 RENT- A US AMH 171.24 $7,181.96
03027X100 AMERICAN TOWER REIT INC US AMT 429.9 $125,603.22
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 16,622.09 $18,549.25
03064D108 AMERICOLD REALTY TRUST US COLD 86 $3,159.69
032654105 ANALOG DEVICES INC US ADI 18.1 $2,949.98
03784Y200 APPLE HOSPITALITY REIT INC US APLE 160.66 $2,374.50
038923AS7 ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 1,806.75 $1,913.68
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 34.11 $2,046.68
044209AM6 ASHLAND LLC 6.87500 05/15/2043 US 180.67 $232.62
045054AJ2 ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 7,226.99 $7,675.88
053015103 AUTOMATIC DATA PROCESSING US ADP 18.86 $3,943.01
053332102 AUTOZONE INC US AZO 40.29 $62,416.01
053484101 AVALONBAY COMMUNITIES INC US AVB 22.98 $5,276.17
05401AAP6 AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 KY 23,487.73 $23,569.81
055622104 BP PLC-SPONS ADR GB BP 1,002.64 $24,524.50
05567SAA0 BNSF FUNDING TRUST I 6.61300 12/15/2055 US 4,697.55 $5,384.52
071734AM9 BAUSCH HEALTH COS INC 5.00000 02/15/2029 CA 1,806.75 $1,689.31
07403VAA7 BEASLEY MEZ HLDGS LLC 8.62500 02/01/2026 US 1,445.4 $1,470.69
084423102 WR BERKLEY CORP US WRB 1,158.31 $87,232.06
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 221.33 $63,248.53
086516101 BEST BUY INC US BBY 16.98 $1,978.74
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 1,387.22 $116,817.92
09247X101 BLACKROCK INC US BLK 163.87 $154,578.90
09261XAB8 BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 5,420.25 $5,582.97
0963318 DECHRA PHARMACEUTICALS PLC GB DPH LN 121.34 $8,741.68
099502106 BOOZ ALLEN HAMILTON HOLDINGS US BAH 11.89 $973.78
101137107 BOSTON SCIENTIFIC CORP US BSX 1,431.85 $64,647.94
10373QBR0 BP CAP MARKETS AMERICA 3.06000 06/17/2041 US 13,369.94 $13,740.56
105368203 BRANDYWINE REALTY TRUST US BDN 186.6 $2,590.02
110122108 BRISTOL MYERS SQUIBB CO US BMY 84.23 $5,631.66
11133T103 BROADRIDGE FINANCIAL SOLUTIONS US BR 8.38 $1,443.77
12345678 JONAH ENERGY PARENT LLC US 71.94 $1,079.17
12503M108 CBOE GLOBAL MARKETS INC US CBOE 509.86 $64,319.40
12514G108 CDW CORP/DE US CDW 329.15 $66,031.47
125269100 CF INDUSTRIES HOLDINGS INC US CF 17.78 $807.50
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 10.77 $969.79
12572Q105 CME GROUP INC US CME 248.5 $50,127.46
127097103 CABOT OIL & GAS CORP US COG 5,203.47 $82,683.17
133131102 CAMDEN PROPERTY TRUST US CPT 27.35 $4,104.22
13321L108 CAMECO CORP CA CCJ 3,849.89 $71,300.00
134429109 CAMPBELL SOUP CO US CPB 23.23 $969.59
136375102 CANADIAN NATIONAL RAILWAY CO CA CNI 1,304.94 $153,500.35
14174T107 CARETRUST REIT INC US CTRE 95 $2,089.02
149123101 CATERPILLAR INC US CAT 21.75 $4,587.11
156700BA3 CENTURYLINK INC 7.50000 04/01/2024 US 1,084.05 $1,206.00
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 158.02 $129,047.16
172062101 CINCINNATI FINANCIAL CORP US CINF 11.38 $1,404.60
17275R102 CISCO SYSTEMS INC US CSCO 134.49 $7,937.86
172967424 CITIGROUP INC US C 72.81 $5,235.91
172967KA8 CITIGROUP INCA 4.45000 09/29/2027 US 9,395.09 $10,755.60
180848P56 CLARK CNTY NV 1.51000 11/01/2028 US 12,647.24 $12,685.18
189054109 CLOROX COMPANY US CLX 8.24 $1,384.53
191216100 COCA COLA CO/THE US KO 3,777.73 $212,724.00
194162103 COLGATE-PALMOLIVE CO US CL 40.83 $3,182.89
20030N101 COMCAST CORP-CL A US CMCSA 142.37 $8,639.12
200340107 COMERICA INC US CMA 11.74 $867.99
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 80.26 $3,893.21
205887102 CONAGRA BRAND INC. US CAG 36.06 $1,194.40
20825C104 CONOCOPHILLIPS US COP 958.52 $53,226.40
21036P108 CONSTELLATION BRANDS INC-A US STZ 241.2 $50,927.16
21240E105 CONTROLADORA VUELA CIA DE AV MX VLRS 299.99 $5,960.85
217204106 COPART INC US CPRT 438.86 $63,336.16
222795502 COUSINS PROPERTIES INC US CUZ 144.18 $5,559.52
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 15,176.69 $16,184.77
231021106 CUMMINS INC US CMI 8.93 $2,106.20
2491914 KIMBERLY CLARK DE MEXICO S.A.B. MX 4,744.52 $8,419.38
253868103 DIGITAL REALTY TRUST INC US DLR 44.63 $7,314.76
254687106 WALT DISNEY CO/THE US DIS 318.93 $57,821.51
256677105 DOLLAR GENERAL CORP US DG 587.16 $130,883.19
256746108 DOLLAR TREE STORES INC US DLTR 1,479.91 $133,990.84
25960P109 DOUGLAS EMMETT INC US DEI 70.93 $2,341.50
264411505 DUKE RLTY INVTS INC US DRE 138.4 $7,267.22
267475AD3 DYCOM INDUSTRIES INC 4.50000 04/15/2029 US 1,626.07 $1,670.79
26875P101 EOG RESOURCES INC US EOG 651.98 $44,021.91
26884L109 EQT CORP US EQT 4,146.31 $76,001.81
27579R104 EAST WEST BANCORP INC US EWBC 1,218.72 $89,381.23
277432100 EASTMAN CHEM CO US EMN 10.37 $1,173.55
285512109 ELECTRONIC ARTS US EA 708.03 $102,812.83
291011104 EMERSON ELEC CO US EMR 30.39 $3,206.09
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 13,008.59 $17,009.92
29278MAC9 ENERGY VEB/ENVEN FIN 11.75000 04/15/2026 US 542.02 $556.88
29444U700 EQUINIX INC US EQIX 109.81 $92,622.76
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 72.96 $6,206.41
297178105 ESSEX PROPERTY TRUST INC US ESS 16.33 $5,401.98
30212P303 EXPEDIA INC US EXPE 1,065.84 $154,013.46
30212PBK0 EXPEDIA GROUP INC 4.62500 08/01/2027 US 4,697.55 $5,313.26
30225T102 EXTRA SPACE STORAGE INC US EXR 24.75 $4,626.48
30231G102 EXXON MOBIL CORP US XOM 705.03 $38,438.20
302491303 FMC CORP US FMC 1,291.5 $120,923.14
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 11,924.54 $12,386.62
30303M102 FACEBOOK INC -A US FB 945.94 $358,871.18
31620R303 FNF GROUP US FNF 23.92 $1,168.08
316773100 FIFTH THIRD BANCORP US FITB 42.46 $1,649.94
345370CW8 FORD MOTOR COMPANY 9.00000 04/22/2025 US 1,806.75 $2,207.30
346232AF8 FORESTAR GROUP INC 3.85000 05/15/2026 US 1,264.72 $1,274.21
369550108 GENERAL DYNAMICS CORP US GD 14.56 $2,916.99
369604BQ5 GENERAL ELECTRIC CO 3.44888 01/21/2099 US 9,033.74 $8,762.73
370334104 GENERAL MLS INC US GIS 35.77 $2,068.07
372460105 GENUINE PARTS CO US GPC 10.37 $1,267.20
374297109 GETTY REALTY CORP US GTY 85.1 $2,691.65
375558103 GILEAD SCIENCES INC US GILD 55.76 $4,057.94
384802104 WW GRAINGER INC US GWW 3.65 $1,582.85
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 4,880.61 $100,150.03
400501102 GRUPO AEROPORTUARIO CEN-ADR MX OMAB 446.19 $21,537.81
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 237.44 $27,640.73
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 152.96 $27,346.07
4012250 AIRBUS SE FR AIR FP 30.53 $4,176.94
4031976 ADIDAS AG DE ADS GR 169.4 $60,094.88
404119BX6 HCA INC 4.12500 06/15/2029 US 7,226.99 $8,178.20
416515104 HARTFORD FINL SVCS US HIG 23.56 $1,583.70
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 96.16 $2,916.39
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 102.8 $3,700.94
423012301 HEINEKEN NV-SPN ADR NL HEINY 1,382.52 $75,610.23
427866108 HERSHEY CO/THE US HSY 12.39 $2,202.47
42805E306 HESKA CORP US HSKA 189.09 $50,166.72
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 19.15 $2,391.26
437076102 HOME DEPOT INC US HD 29.78 $9,712.08
438516106 HONEYWELL INTERNATIONAL INC US HON 24.79 $5,748.72
44267DAE7 HOWARD HUGHES CORP 4.12500 02/01/2029 US 1,806.75 $1,815.78
443510607 HUBBELL INC US HUBB 4.44 $916.08
446150104 HUNTINGTON BANCSHARES US HBAN 71.62 $1,112.25
448579102 HYATT HOTEL US H 989.7 $72,832.07
44988FAC4 IIP OPERATING PARTNER 5.50000 05/25/2026 US 2,348.77 $2,466.37
450913AF5 IAMGOLD CORP 5.75000 10/15/2028 CA 1,806.75 $1,799.97
451102BZ9 ICAHN ENTERPRISES/FIN 5.25000 05/15/2027 US 1,806.75 $1,876.67
45168D104 IDEXX LABORATORIES INC US IDXX 150.39 $101,329.29
4519579 KERRY GROUP PLC-A IE KYG ID 37.29 $5,468.74
452308109 ILLINOIS TOOL WKS INC US ITW 14.71 $3,424.66
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 1,806.75 $1,928.29
45778Q107 INSPERITY INC US NSP 876.27 $96,687.96
45781V101 INNOVATIVE INDUSTRIAL PROPER US IIPR 12 $2,950.14
458140100 INTEL CORP US INTC 123.76 $6,690.59
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 973.84 $116,402.79
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 34.73 $4,873.41
459506101 INTERNATIONAL FLVRS & FRAGRANCES US IFF 14.38 $2,178.83
46116VAE5 INTL FC STORE INC 8.62500 06/15/2025 US 1,445.4 $1,563.92
46120E602 INTUITIVE SURGICAL INC US ISRG 46.58 $49,072.69
46187W107 INVITATION HOMES INC US INVH 223.35 $9,197.56
464288620 ISHARES BROAD USD INVESTMENT 1.50100 US 461.41 $28,145.85
46625H100 JP MORGAN CHASE & CO US JPM 58.97 $9,432.61
46647PBP0 JPMORGAN CHASE & CO 2.95600 05/13/2031 US 14,453.99 $15,270.49
478160104 JOHNSON & JOHNSON US JNJ 1,202.25 $208,144.95
49427F108 KILROY REALTY CORP US KRC 54.06 $3,548.90
494368103 KIMBERLY CLARK CORP US KMB 17.92 $2,469.96
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 10,479.14 $14,991.31
500754106 KRAFT HEINZ CO/THE US KHC 63.85 $2,297.98
501044101 KROGER CO US KR 46.87 $2,157.29
502431109 L3HARRIS TECHNOLOGIES INC US LHX 11.38 $2,652.24
5107401 BEIERSDORF AG DE BEI GR 59.91 $7,271.14
512816109 LAMAR ADVERTISING CO-A US LAMR 16.95 $1,929.11
53223X107 LIFE STORAGE INC US LSI 24.39 $3,035.23
539473AE8 LLOYDS BANK PLC 12.00000 12/16/2024 GB 10,840.49 $11,450.27
539830109 LOCKHEED MARTIN CORP US LMT 11.56 $4,160.44
550021109 LULULEMON - ADR CA LULU 322.72 $129,143.43
55616XAM9 MACY'S RETAIL HLDGS LLC 4.50000 12/15/2034 US 1,264.72 $1,237.80
573284106 MARTIN MARIETTA MATERIALS US MLM 159.17 $60,685.29
57636Q104 MASTERCARD INC-CLASS A US MA 647.54 $224,197.31
5852842 ACCOR SA FR AC FP 156.68 $5,403.07
58933Y105 MERCK & CO INC US MRK 89.29 $6,811.90
59022CAJ2 MERRILL LYNCH 6.11000 01/29/2037 US 5,962.27 $8,201.17
594918104 MICROSOFT CORP US MSFT 920.14 $277,772.12
59522J103 MID-AMERICA APARTMENT COMM US MAA 38.63 $7,430.92
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 3,061.46 $190,025.01
615369105 MOODY'S CORPORATION US MCO 469.97 $178,951.02
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 1,806.75 $1,543.63
620076307 MOTOROLA SOLUTIONS INC US MSI 9.9 $2,418.02
6321954 TRAVELSKY TECHNOLOGY LTD-H CN 696 HK 6,323.62 $11,845.67
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 11,382.52 $12,691.50
64110D104 NETAPP INC US NTAP 15.83 $1,407.51
644393AA8 NEW FORTRESS ENERGY INC 6.75000 09/15/2025 US 1,626.07 $1,650.46
6490995 KEYENCE CORP JP 6861 JP 10.84 $6,507.91
64971XPG7 NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 3,432.82 $3,536.05
65106WAA3 NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 5,420.25 $5,654.75
651639106 NEWMONT GOLDCORP CORP US NEM 41.99 $2,434.93
65341D102 NEXPOINT RESIDENTIAL US NXRT 39.03 $2,528.48
654106103 NIKE INC CLASS B US NKE 718.65 $118,390.78
655844108 NORFOLK SOUTHN CORP US NSC 316.36 $80,210.33
6642321 NIKON CORP JP 7731 JP 4,878.22 $51,271.01
666807102 NORTHROP GRUMMAN CORP US NOC 8.42 $3,095.83
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 5,239.57 $0.52
66987V109 NOVARTIS AG- REG CH NVS 1,038.56 $95,952.11
670346105 NUCOR CORP US NUE 21.9 $2,574.30
67066G104 NVIDIA CORP US NVDA 407.13 $91,136.66
67421QAA0 OASIS MIDSTREAM PARTNERS 8.00000 04/01/2029 US 1,626.07 $1,682.99
6742340 SHANDONG WEIGAO CN 1066 HK 6,215.21 $10,226.71
681919106 OMNICOM GROUP US OMC 15.94 $1,166.80
6821506 SONY CORP FIRST SECTION JP 6758 JP 155.38 $16,065.61
68389X105 ORACLE CORP US ORCL 93.12 $8,299.77
68622V106 ORGANNON & CO US OGN 7.84 $265.74
691205AE8 OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 5,420.25 $5,755.64
69354NAC0 PRA GROUP INC 7.37500 09/01/2025 US 1,806.75 $1,928.70
695156109 PACKAGING CORP OF AMERICA US PKG 7.66 $1,162.12
7021963 DEUTSCHE BOERSE AG DE DB1 GR 569.96 $98,292.98
70450Y103 PAYPAL HOLDINGS INC US PYPL 802.02 $231,509.84
70789PAA2 PENN VIRGINIA ESC LLC 9.25000 08/15/2026 US 1,806.75 $1,757.06
7123870 NESTLE SA-REGISTERED CH NESN SW 1,566.56 $197,838.98
713448108 PEPSICO INC US PEP 517.99 $81,009.20
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 2,348.77 $2,540.99
742718109 PROCTER & GAMBLE CO US PG 67.21 $9,570.18
74340W103 PROLOGIS US PLD 171.14 $23,045.07
74460D109 PUBLIC STORAGE INC US PSA 33.39 $10,804.92
747525103 QUALCOMM INC US QCOM 40.25 $5,904.91
74834L100 QUEST DIAGNOSTICS INC US DGX 10.05 $1,535.26
749685103 RPM INTERNATIONAL INC US RPM 10.66 $877.20
750481103 RADIUS GLOBAL INFRASTRUCTURE US RADI 299.02 $5,346.42
75134P402 RAMACO RESOURCES INC US 491.44 $13,224.53
756109104 REALTY INCOME CORP US O 21.18 $1,529.27
7591EP100 REGIONS FINANCIAL CORP. US RF 65.62 $1,340.64
759509102 RELIANCE STEEL & ALUMINUM US RS 5.64 $845.78
760759100 REPUBLIC SERVICES INC US RSG 19.01 $2,359.34
76131D103 RESTAURANT BRANDS INTERN CA QSR 78.23 $5,023.29
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 85.64 $5,303.68
7698356 GETINGE AB-B SHS SE GETIB SS 331.68 $13,613.85
7792559 HEINEKEN NV NL HEIA NA 73.46 $8,045.75
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 631.46 $24,860.52
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 1,034.54 $111,420.41
78409V104 S&P GLOBAL INC US SPGI 305.7 $135,676.59
78410G104 SBA COMMUNICATIONS CORP US SBAC 537.69 $193,013.99
78442FAZ1 SLM CORP 5.62500 08/01/2033 US 1,264.72 $1,225.20
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 13,731.29 $16,211.64
79466L302 SALESFORCE.COM US CRM 472.39 $125,311.55
81141R100 SEA LTD - ADR SG SE 788.93 $266,912.42
81181C104 SEAGEN INC US SGEN 824.49 $138,184.79
81762P102 SERVICENOW INC US NOW 422.06 $271,652.41
82967NBJ6 SIRIUS XM RADIO INC 4.00000 07/15/2028 US 1,084.05 $1,110.83
831865209 SMITH (A.O.) CORP US AOS 13.01 $945.98
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 8.96 $1,108.27
833034101 SNAP-ON INC US SNA 4.37 $983.56
835699307 SONY CORP SPONSORED ADR JP SONY 1,160.66 $120,081.39
844741BK3 SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 10,479.14 $12,252.92
858119100 STEEL DYNAMICS INC US STLD 17.71 $1,194.99
861036AA9 STL HOLDING CO LLC 7.50000 02/15/2026 US 2,529.45 $2,681.21
866674104 SUN COMMUNITIES US SUI 50.05 $10,083.96
87105L104 SWITCH INC - A US SWCH 325.29 $8,070.37
87157B301 SYNCHRONOSS TECH 8.37500 06/30/2026 US 49.14 $1,233.50
87356LAA8 TACORA RESOURCES INC 8.25000 05/15/2026 CA 2,168.1 $2,260.85
874039100 TAIWAN SEMICONDUCTOR - SP ADR TW TSM 45.96 $5,470.14
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 18,428.83 $20,437.58
88146M101 TERRENO REALTY CORP US TRNO 40.83 $2,728.02
883556102 THERMO FISHER SCIENTIFIC INC US TMO 173.7 $96,395.26
88579Y101 3M CO US MMM 23.2 $4,517.71
89151E109 TOTALENERGIES SE SPON ADR FR TTE 557.92 $24,710.45
89417E109 TRAVELLERS COS INC US TRV 13.66 $2,181.48
902494103 TYSON FOODS INC -CL A US TSN 23.09 $1,813.05
902653104 UDR INC US UDR 91.49 $4,942.49
902973304 U.S. BANCORP US USB 61.9 $3,552.40
90348R102 UBISOFT ENTERTAIN-UNSPON ADR FR UBSFY 4,072.19 $51,676.15
904767704 UNILEVER PLC - ADR GB UL 2,541.44 $141,507.64
907818108 UNION PAC CORP US UNP 24.21 $5,249.79
90932KAA7 UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 11,167.38 $11,076.11
90932NAA1 UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 981.17 $1,013.94
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 25,836.5 $31,623.48
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 627,303.07 $679,398.63
91324P102 UNITEDHEALTH GROUP INC US UNH 274.99 $114,468.89
92276F100 VENTAS INC US VTR 37.33 $2,088.10
92343V104 VERIZON COMMUNICATIONS US VZ 126.98 $6,983.81
92343VCV4 VERIZON COMMUNICATIONS 4.27200 01/15/2036 US 14,453.99 $17,287.02
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 708.32 $141,868.95
92826C839 VISA INC - CLASS A SHARES US V 783.41 $179,478.35
92840VAH5 VISTRA OPERATIONS CO LLC 4.37500 05/01/2029 US 1,626.07 $1,650.46
929160109 VULCAN MATERIALS CO US VMC 337.1 $62,677.59
929740108 WABTEC CORP US WAB 1,081.88 $97,142.09
931142103 WAL MART STORES US WMT 67.21 $9,953.96
93114W107 WALMART DE MEXICO MX WMMVY 3,212.4 $114,232.90
94106L109 WASTE MANAGEMENT INC US WM 21.54 $3,340.52
95040Q104 WELLTOWER INC. US WELL 44.59 $3,903.01
963320106 WHIRLPOOL CORP US WHR 4.95 $1,096.68
969457BY5 WILLIAMS COMPANIES INC 2.60000 03/15/2031 US 10,840.49 $11,061.58
969904101 WILLIAMS - SONOMA INC US WSM 5.85 $1,092.92
98978V103 ZOETIS INC US ZTS 221.98 $45,407.64
B02J639 ADMIRAL GROUP PLC GB ADM LN 341.76 $16,980.96
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 437.23 $2,635.29
B1L3CS6 UBISOFT ENTERTAINMENT FR UBI FP 89.04 $5,655.77
B1Y9TB3 DANONE FR BN FP 143.74 $10,497.08
B1YXBJ7 AIR LIQUIDE FR AI FP 73.61 $13,193.48
B3QJ0H8 TOURMALINE OIL CORP CA TOU CN 301.47 $8,062.25
B4YVF56 BRENNTAG AG DE BNR GR 677.31 $68,353.39
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 95.97 $4,119.49
BFZZM64 S4 CAPITAL PLC GB SFOR LN 1,000.94 $11,201.78
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 1,064.28 $1,592.79
BJ2KSG2 AKZO NOBEL NL AKZA NA 32.85 $4,048.00
BJ9JY53 JINXIN FERTILITY GROUP CN 1951 HK 1,662.21 $2,641.31
BJXMLF7 AVANZA BANK HOLDING AB SE AZA SS 164.78 $6,347.15
BK0939417 AMERICAN TANKER INC 7.75000 07/02/2025 US 3,071.47 $3,147.49
BKWD4B5 SOFTWAREONE HOLDING AG CH SWON SW 324.06 $9,180.91
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 2,394.34 $147,881.09
BMXKJ81 FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 140.89 $2,550.11
BN7860420 PETROTAL CORP 12.00000 02/16/2024 CA 1,445.4 $1,503.21
BNGN9Z1 FINECOBANK SPA IT FBK IM 886.54 $16,331.81
BO8204600 COPPER MOUNTAIN MINING C 8.00000 04/09/2026 CA 10,840.49 $11,328.31
BP3061408 AIRSWIFT GLOBAL AS FLT 8.62275 05/12/2025 NO 7,226.99 $7,154.72
BQ0584657 JERVOIS MINING LTD 12.50000 07/20/2026 AU 7,226.99 $7,631.34
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 879.49 $7,605.49
BW1YVH8 WALMART DE MEXICO SAB DE CV MX WALMEX MM 1,507.37 $5,349.05
BYPC1T4 ASSA ABLOY AB-B SE ASSAB SS 119.43 $3,821.72
BYT1DJ1 INTERMEDIATE CAPITAL GROUP GB ICP LN 286.66 $8,668.41
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 805.38 $49,395.53
BZ1HM42 ADYEN NV NL ADYEN NA 2.31 $7,474.62
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 156.28 $5,205.81
G16962105 BUNGE LIMITED US BG 11.96 $905.54
G29183103 EATON CORP PLC US ETN 19.66 $3,309.52
G3223R108 EVEREST RE GROUP LTD BM RE 3.36 $890.21
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 43.47 $3,251.58
G5494J103 LINDE PLC GB LIN 19.3 $6,070.35
G5960L103 MEDTRONIC INC IE MDT 925.02 $123,471.55
G85158106 STONECO LTD-A BR STNE 183.57 $8,543.15
H01301128 ALCON INC CH ALC 934.78 $77,090.94
H1467J104 CHUBB LTD CH CB 19.66 $3,615.39
H2906T109 GARMIN LTD CH GRMN 12.39 $2,161.94
USD US DOLLAR US 287,493.41 $287,493.41
ZO1818103 NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 MH 5,420.25 $5,664.16
ZO4110185 BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 7,226.99 $7,082.45

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

$22.51

Daily $ Change

-$0.01

Daily % Change

-0.04%

as of 09/16/2021

CUSIP

302028782

Inception Date

10/22/2015

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

Important Documents

Annual Report
Fact Sheet
Applications & Forms

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

Investment Objective

To provide capital growth and manage risk for investors planning to retire (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 15% - 45%.

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 08/31/2021

YTD

16.74%

1 Year

27.90%

3 Year

17.50%

5 Year

15.94%

10 Year

12.85%

Inception
(01/01/2000)

9.18%

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

Expense Ratio

Gross 0.58%
Net 0.49%*

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

Top Ten Investments

As of 08/31/2021

TREASURY NOTES 5.53%
FACEBOOK INC -A 2.92%
AMAZON.COM INC 2.78%
ALPHABET INC-CL A 2.42%
MICROSOFT CORP 2.26%
SERVICENOW INC 2.21%
SEA LTD - ADR 2.17%
PAYPAL HOLDINGS INC 1.88%
MASTERCARD INC-CLASS A 1.82%
COCA COLA CO/THE 1.73%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 08/31/2021

Stocks
88.32%
Bonds
9.39%
Cash
2.29%

Detailed Asset Class Allocation

As of 08/31/2021

International Equities
22.92%
Small Capitalization
1.49%
Mid Capitalization
8.06%
Large Capitalization
55.85%
Long Term Fixed Income
1.04%
Intermediate Term Fixed Income
8.19%
Short Term Fixed Income
0.16%
Cash
2.29%

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 08/31/2021

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00435F309 ACCOR SA-SPONSORED ADR FR ACCYY 6,636.37 $45,392.76
00507V109 ACTIVISION INC US ATVI 816.33 $67,240.70
00724F101 ADOBE INC US ADBE 104.86 $69,598.03
008492100 AGREE REALTY CORP US ADC 39.5 $2,944.39
009126202 AIR LIQUIDE-ADR FR AIQUY 2,302.7 $82,528.80
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 5,058.9 $5,467.93
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 2,017.83 $2,272.13
01609WAU6 ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 9,756.44 $10,907.06
016255101 ALIGN TECHNOLOGY INC US ALGN 136.55 $96,816.82
01879NAA3 ALLIANCE RES OP/FINANCE 7.50000 05/01/2025 US 903.37 $910.33
020002101 ALLSTATE CORPORATION US ALL 16.84 $2,277.97
02079K107 ALPHABET INC-CL C US GOOG 10.52 $30,591.46
02079K305 ALPHABET INC-CL A US GOOGL 102.62 $296,986.74
023135106 AMAZON.COM INC US AMZN 98.29 $341,133.94
0237400 DIAGEO PLC GB DGE LN 2,160.47 $103,859.75
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 66.02 $3,357.05
025816109 AMERICAN EXPRESS CO US AXP 529.7 $87,909.43
02665T306 AMERICAN HOMES 4 RENT- A US AMH 171.24 $7,181.96
03027X100 AMERICAN TOWER REIT INC US AMT 429.9 $125,603.22
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 16,622.09 $18,549.25
03064D108 AMERICOLD REALTY TRUST US COLD 86 $3,159.69
032654105 ANALOG DEVICES INC US ADI 18.1 $2,949.98
03784Y200 APPLE HOSPITALITY REIT INC US APLE 160.66 $2,374.50
038923AS7 ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 1,806.75 $1,913.68
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 34.11 $2,046.68
044209AM6 ASHLAND LLC 6.87500 05/15/2043 US 180.67 $232.62
045054AJ2 ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 7,226.99 $7,675.88
053015103 AUTOMATIC DATA PROCESSING US ADP 18.86 $3,943.01
053332102 AUTOZONE INC US AZO 40.29 $62,416.01
053484101 AVALONBAY COMMUNITIES INC US AVB 22.98 $5,276.17
05401AAP6 AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 KY 23,487.73 $23,569.81
055622104 BP PLC-SPONS ADR GB BP 1,002.64 $24,524.50
05567SAA0 BNSF FUNDING TRUST I 6.61300 12/15/2055 US 4,697.55 $5,384.52
071734AM9 BAUSCH HEALTH COS INC 5.00000 02/15/2029 CA 1,806.75 $1,689.31
07403VAA7 BEASLEY MEZ HLDGS LLC 8.62500 02/01/2026 US 1,445.4 $1,470.69
084423102 WR BERKLEY CORP US WRB 1,158.31 $87,232.06
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 221.33 $63,248.53
086516101 BEST BUY INC US BBY 16.98 $1,978.74
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 1,387.22 $116,817.92
09247X101 BLACKROCK INC US BLK 163.87 $154,578.90
09261XAB8 BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 5,420.25 $5,582.97
0963318 DECHRA PHARMACEUTICALS PLC GB DPH LN 121.34 $8,741.68
099502106 BOOZ ALLEN HAMILTON HOLDINGS US BAH 11.89 $973.78
101137107 BOSTON SCIENTIFIC CORP US BSX 1,431.85 $64,647.94
10373QBR0 BP CAP MARKETS AMERICA 3.06000 06/17/2041 US 13,369.94 $13,740.56
105368203 BRANDYWINE REALTY TRUST US BDN 186.6 $2,590.02
110122108 BRISTOL MYERS SQUIBB CO US BMY 84.23 $5,631.66
11133T103 BROADRIDGE FINANCIAL SOLUTIONS US BR 8.38 $1,443.77
12345678 JONAH ENERGY PARENT LLC US 71.94 $1,079.17
12503M108 CBOE GLOBAL MARKETS INC US CBOE 509.86 $64,319.40
12514G108 CDW CORP/DE US CDW 329.15 $66,031.47
125269100 CF INDUSTRIES HOLDINGS INC US CF 17.78 $807.50
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 10.77 $969.79
12572Q105 CME GROUP INC US CME 248.5 $50,127.46
127097103 CABOT OIL & GAS CORP US COG 5,203.47 $82,683.17
133131102 CAMDEN PROPERTY TRUST US CPT 27.35 $4,104.22
13321L108 CAMECO CORP CA CCJ 3,849.89 $71,300.00
134429109 CAMPBELL SOUP CO US CPB 23.23 $969.59
136375102 CANADIAN NATIONAL RAILWAY CO CA CNI 1,304.94 $153,500.35
14174T107 CARETRUST REIT INC US CTRE 95 $2,089.02
149123101 CATERPILLAR INC US CAT 21.75 $4,587.11
156700BA3 CENTURYLINK INC 7.50000 04/01/2024 US 1,084.05 $1,206.00
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 158.02 $129,047.16
172062101 CINCINNATI FINANCIAL CORP US CINF 11.38 $1,404.60
17275R102 CISCO SYSTEMS INC US CSCO 134.49 $7,937.86
172967424 CITIGROUP INC US C 72.81 $5,235.91
172967KA8 CITIGROUP INCA 4.45000 09/29/2027 US 9,395.09 $10,755.60
180848P56 CLARK CNTY NV 1.51000 11/01/2028 US 12,647.24 $12,685.18
189054109 CLOROX COMPANY US CLX 8.24 $1,384.53
191216100 COCA COLA CO/THE US KO 3,777.73 $212,724.00
194162103 COLGATE-PALMOLIVE CO US CL 40.83 $3,182.89
20030N101 COMCAST CORP-CL A US CMCSA 142.37 $8,639.12
200340107 COMERICA INC US CMA 11.74 $867.99
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 80.26 $3,893.21
205887102 CONAGRA BRAND INC. US CAG 36.06 $1,194.40
20825C104 CONOCOPHILLIPS US COP 958.52 $53,226.40
21036P108 CONSTELLATION BRANDS INC-A US STZ 241.2 $50,927.16
21240E105 CONTROLADORA VUELA CIA DE AV MX VLRS 299.99 $5,960.85
217204106 COPART INC US CPRT 438.86 $63,336.16
222795502 COUSINS PROPERTIES INC US CUZ 144.18 $5,559.52
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 15,176.69 $16,184.77
231021106 CUMMINS INC US CMI 8.93 $2,106.20
2491914 KIMBERLY CLARK DE MEXICO S.A.B. MX 4,744.52 $8,419.38
253868103 DIGITAL REALTY TRUST INC US DLR 44.63 $7,314.76
254687106 WALT DISNEY CO/THE US DIS 318.93 $57,821.51
256677105 DOLLAR GENERAL CORP US DG 587.16 $130,883.19
256746108 DOLLAR TREE STORES INC US DLTR 1,479.91 $133,990.84
25960P109 DOUGLAS EMMETT INC US DEI 70.93 $2,341.50
264411505 DUKE RLTY INVTS INC US DRE 138.4 $7,267.22
267475AD3 DYCOM INDUSTRIES INC 4.50000 04/15/2029 US 1,626.07 $1,670.79
26875P101 EOG RESOURCES INC US EOG 651.98 $44,021.91
26884L109 EQT CORP US EQT 4,146.31 $76,001.81
27579R104 EAST WEST BANCORP INC US EWBC 1,218.72 $89,381.23
277432100 EASTMAN CHEM CO US EMN 10.37 $1,173.55
285512109 ELECTRONIC ARTS US EA 708.03 $102,812.83
291011104 EMERSON ELEC CO US EMR 30.39 $3,206.09
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 13,008.59 $17,009.92
29278MAC9 ENERGY VEB/ENVEN FIN 11.75000 04/15/2026 US 542.02 $556.88
29444U700 EQUINIX INC US EQIX 109.81 $92,622.76
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 72.96 $6,206.41
297178105 ESSEX PROPERTY TRUST INC US ESS 16.33 $5,401.98
30212P303 EXPEDIA INC US EXPE 1,065.84 $154,013.46
30212PBK0 EXPEDIA GROUP INC 4.62500 08/01/2027 US 4,697.55 $5,313.26
30225T102 EXTRA SPACE STORAGE INC US EXR 24.75 $4,626.48
30231G102 EXXON MOBIL CORP US XOM 705.03 $38,438.20
302491303 FMC CORP US FMC 1,291.5 $120,923.14
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 11,924.54 $12,386.62
30303M102 FACEBOOK INC -A US FB 945.94 $358,871.18
31620R303 FNF GROUP US FNF 23.92 $1,168.08
316773100 FIFTH THIRD BANCORP US FITB 42.46 $1,649.94
345370CW8 FORD MOTOR COMPANY 9.00000 04/22/2025 US 1,806.75 $2,207.30
346232AF8 FORESTAR GROUP INC 3.85000 05/15/2026 US 1,264.72 $1,274.21
369550108 GENERAL DYNAMICS CORP US GD 14.56 $2,916.99
369604BQ5 GENERAL ELECTRIC CO 3.44888 01/21/2099 US 9,033.74 $8,762.73
370334104 GENERAL MLS INC US GIS 35.77 $2,068.07
372460105 GENUINE PARTS CO US GPC 10.37 $1,267.20
374297109 GETTY REALTY CORP US GTY 85.1 $2,691.65
375558103 GILEAD SCIENCES INC US GILD 55.76 $4,057.94
384802104 WW GRAINGER INC US GWW 3.65 $1,582.85
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 4,880.61 $100,150.03
400501102 GRUPO AEROPORTUARIO CEN-ADR MX OMAB 446.19 $21,537.81
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 237.44 $27,640.73
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 152.96 $27,346.07
4012250 AIRBUS SE FR AIR FP 30.53 $4,176.94
4031976 ADIDAS AG DE ADS GR 169.4 $60,094.88
404119BX6 HCA INC 4.12500 06/15/2029 US 7,226.99 $8,178.20
416515104 HARTFORD FINL SVCS US HIG 23.56 $1,583.70
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 96.16 $2,916.39
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 102.8 $3,700.94
423012301 HEINEKEN NV-SPN ADR NL HEINY 1,382.52 $75,610.23
427866108 HERSHEY CO/THE US HSY 12.39 $2,202.47
42805E306 HESKA CORP US HSKA 189.09 $50,166.72
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 19.15 $2,391.26
437076102 HOME DEPOT INC US HD 29.78 $9,712.08
438516106 HONEYWELL INTERNATIONAL INC US HON 24.79 $5,748.72
44267DAE7 HOWARD HUGHES CORP 4.12500 02/01/2029 US 1,806.75 $1,815.78
443510607 HUBBELL INC US HUBB 4.44 $916.08
446150104 HUNTINGTON BANCSHARES US HBAN 71.62 $1,112.25
448579102 HYATT HOTEL US H 989.7 $72,832.07
44988FAC4 IIP OPERATING PARTNER 5.50000 05/25/2026 US 2,348.77 $2,466.37
450913AF5 IAMGOLD CORP 5.75000 10/15/2028 CA 1,806.75 $1,799.97
451102BZ9 ICAHN ENTERPRISES/FIN 5.25000 05/15/2027 US 1,806.75 $1,876.67
45168D104 IDEXX LABORATORIES INC US IDXX 150.39 $101,329.29
4519579 KERRY GROUP PLC-A IE KYG ID 37.29 $5,468.74
452308109 ILLINOIS TOOL WKS INC US ITW 14.71 $3,424.66
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 1,806.75 $1,928.29
45778Q107 INSPERITY INC US NSP 876.27 $96,687.96
45781V101 INNOVATIVE INDUSTRIAL PROPER US IIPR 12 $2,950.14
458140100 INTEL CORP US INTC 123.76 $6,690.59
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 973.84 $116,402.79
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 34.73 $4,873.41
459506101 INTERNATIONAL FLVRS & FRAGRANCES US IFF 14.38 $2,178.83
46116VAE5 INTL FC STORE INC 8.62500 06/15/2025 US 1,445.4 $1,563.92
46120E602 INTUITIVE SURGICAL INC US ISRG 46.58 $49,072.69
46187W107 INVITATION HOMES INC US INVH 223.35 $9,197.56
464288620 ISHARES BROAD USD INVESTMENT 1.50100 US 461.41 $28,145.85
46625H100 JP MORGAN CHASE & CO US JPM 58.97 $9,432.61
46647PBP0 JPMORGAN CHASE & CO 2.95600 05/13/2031 US 14,453.99 $15,270.49
478160104 JOHNSON & JOHNSON US JNJ 1,202.25 $208,144.95
49427F108 KILROY REALTY CORP US KRC 54.06 $3,548.90
494368103 KIMBERLY CLARK CORP US KMB 17.92 $2,469.96
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 10,479.14 $14,991.31
500754106 KRAFT HEINZ CO/THE US KHC 63.85 $2,297.98
501044101 KROGER CO US KR 46.87 $2,157.29
502431109 L3HARRIS TECHNOLOGIES INC US LHX 11.38 $2,652.24
5107401 BEIERSDORF AG DE BEI GR 59.91 $7,271.14
512816109 LAMAR ADVERTISING CO-A US LAMR 16.95 $1,929.11
53223X107 LIFE STORAGE INC US LSI 24.39 $3,035.23
539473AE8 LLOYDS BANK PLC 12.00000 12/16/2024 GB 10,840.49 $11,450.27
539830109 LOCKHEED MARTIN CORP US LMT 11.56 $4,160.44
550021109 LULULEMON - ADR CA LULU 322.72 $129,143.43
55616XAM9 MACY'S RETAIL HLDGS LLC 4.50000 12/15/2034 US 1,264.72 $1,237.80
573284106 MARTIN MARIETTA MATERIALS US MLM 159.17 $60,685.29
57636Q104 MASTERCARD INC-CLASS A US MA 647.54 $224,197.31
5852842 ACCOR SA FR AC FP 156.68 $5,403.07
58933Y105 MERCK & CO INC US MRK 89.29 $6,811.90
59022CAJ2 MERRILL LYNCH 6.11000 01/29/2037 US 5,962.27 $8,201.17
594918104 MICROSOFT CORP US MSFT 920.14 $277,772.12
59522J103 MID-AMERICA APARTMENT COMM US MAA 38.63 $7,430.92
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 3,061.46 $190,025.01
615369105 MOODY'S CORPORATION US MCO 469.97 $178,951.02
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 1,806.75 $1,543.63
620076307 MOTOROLA SOLUTIONS INC US MSI 9.9 $2,418.02
6321954 TRAVELSKY TECHNOLOGY LTD-H CN 696 HK 6,323.62 $11,845.67
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 11,382.52 $12,691.50
64110D104 NETAPP INC US NTAP 15.83 $1,407.51
644393AA8 NEW FORTRESS ENERGY INC 6.75000 09/15/2025 US 1,626.07 $1,650.46
6490995 KEYENCE CORP JP 6861 JP 10.84 $6,507.91
64971XPG7 NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 3,432.82 $3,536.05
65106WAA3 NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 5,420.25 $5,654.75
651639106 NEWMONT GOLDCORP CORP US NEM 41.99 $2,434.93
65341D102 NEXPOINT RESIDENTIAL US NXRT 39.03 $2,528.48
654106103 NIKE INC CLASS B US NKE 718.65 $118,390.78
655844108 NORFOLK SOUTHN CORP US NSC 316.36 $80,210.33
6642321 NIKON CORP JP 7731 JP 4,878.22 $51,271.01
666807102 NORTHROP GRUMMAN CORP US NOC 8.42 $3,095.83
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 5,239.57 $0.52
66987V109 NOVARTIS AG- REG CH NVS 1,038.56 $95,952.11
670346105 NUCOR CORP US NUE 21.9 $2,574.30
67066G104 NVIDIA CORP US NVDA 407.13 $91,136.66
67421QAA0 OASIS MIDSTREAM PARTNERS 8.00000 04/01/2029 US 1,626.07 $1,682.99
6742340 SHANDONG WEIGAO CN 1066 HK 6,215.21 $10,226.71
681919106 OMNICOM GROUP US OMC 15.94 $1,166.80
6821506 SONY CORP FIRST SECTION JP 6758 JP 155.38 $16,065.61
68389X105 ORACLE CORP US ORCL 93.12 $8,299.77
68622V106 ORGANNON & CO US OGN 7.84 $265.74
691205AE8 OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 5,420.25 $5,755.64
69354NAC0 PRA GROUP INC 7.37500 09/01/2025 US 1,806.75 $1,928.70
695156109 PACKAGING CORP OF AMERICA US PKG 7.66 $1,162.12
7021963 DEUTSCHE BOERSE AG DE DB1 GR 569.96 $98,292.98
70450Y103 PAYPAL HOLDINGS INC US PYPL 802.02 $231,509.84
70789PAA2 PENN VIRGINIA ESC LLC 9.25000 08/15/2026 US 1,806.75 $1,757.06
7123870 NESTLE SA-REGISTERED CH NESN SW 1,566.56 $197,838.98
713448108 PEPSICO INC US PEP 517.99 $81,009.20
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 2,348.77 $2,540.99
742718109 PROCTER & GAMBLE CO US PG 67.21 $9,570.18
74340W103 PROLOGIS US PLD 171.14 $23,045.07
74460D109 PUBLIC STORAGE INC US PSA 33.39 $10,804.92
747525103 QUALCOMM INC US QCOM 40.25 $5,904.91
74834L100 QUEST DIAGNOSTICS INC US DGX 10.05 $1,535.26
749685103 RPM INTERNATIONAL INC US RPM 10.66 $877.20
750481103 RADIUS GLOBAL INFRASTRUCTURE US RADI 299.02 $5,346.42
75134P402 RAMACO RESOURCES INC US 491.44 $13,224.53
756109104 REALTY INCOME CORP US O 21.18 $1,529.27
7591EP100 REGIONS FINANCIAL CORP. US RF 65.62 $1,340.64
759509102 RELIANCE STEEL & ALUMINUM US RS 5.64 $845.78
760759100 REPUBLIC SERVICES INC US RSG 19.01 $2,359.34
76131D103 RESTAURANT BRANDS INTERN CA QSR 78.23 $5,023.29
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 85.64 $5,303.68
7698356 GETINGE AB-B SHS SE GETIB SS 331.68 $13,613.85
7792559 HEINEKEN NV NL HEIA NA 73.46 $8,045.75
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 631.46 $24,860.52
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 1,034.54 $111,420.41
78409V104 S&P GLOBAL INC US SPGI 305.7 $135,676.59
78410G104 SBA COMMUNICATIONS CORP US SBAC 537.69 $193,013.99
78442FAZ1 SLM CORP 5.62500 08/01/2033 US 1,264.72 $1,225.20
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 13,731.29 $16,211.64
79466L302 SALESFORCE.COM US CRM 472.39 $125,311.55
81141R100 SEA LTD - ADR SG SE 788.93 $266,912.42
81181C104 SEAGEN INC US SGEN 824.49 $138,184.79
81762P102 SERVICENOW INC US NOW 422.06 $271,652.41
82967NBJ6 SIRIUS XM RADIO INC 4.00000 07/15/2028 US 1,084.05 $1,110.83
831865209 SMITH (A.O.) CORP US AOS 13.01 $945.98
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 8.96 $1,108.27
833034101 SNAP-ON INC US SNA 4.37 $983.56
835699307 SONY CORP SPONSORED ADR JP SONY 1,160.66 $120,081.39
844741BK3 SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 10,479.14 $12,252.92
858119100 STEEL DYNAMICS INC US STLD 17.71 $1,194.99
861036AA9 STL HOLDING CO LLC 7.50000 02/15/2026 US 2,529.45 $2,681.21
866674104 SUN COMMUNITIES US SUI 50.05 $10,083.96
87105L104 SWITCH INC - A US SWCH 325.29 $8,070.37
87157B301 SYNCHRONOSS TECH 8.37500 06/30/2026 US 49.14 $1,233.50
87356LAA8 TACORA RESOURCES INC 8.25000 05/15/2026 CA 2,168.1 $2,260.85
874039100 TAIWAN SEMICONDUCTOR - SP ADR TW TSM 45.96 $5,470.14
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 18,428.83 $20,437.58
88146M101 TERRENO REALTY CORP US TRNO 40.83 $2,728.02
883556102 THERMO FISHER SCIENTIFIC INC US TMO 173.7 $96,395.26
88579Y101 3M CO US MMM 23.2 $4,517.71
89151E109 TOTALENERGIES SE SPON ADR FR TTE 557.92 $24,710.45
89417E109 TRAVELLERS COS INC US TRV 13.66 $2,181.48
902494103 TYSON FOODS INC -CL A US TSN 23.09 $1,813.05
902653104 UDR INC US UDR 91.49 $4,942.49
902973304 U.S. BANCORP US USB 61.9 $3,552.40
90348R102 UBISOFT ENTERTAIN-UNSPON ADR FR UBSFY 4,072.19 $51,676.15
904767704 UNILEVER PLC - ADR GB UL 2,541.44 $141,507.64
907818108 UNION PAC CORP US UNP 24.21 $5,249.79
90932KAA7 UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 11,167.38 $11,076.11
90932NAA1 UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 981.17 $1,013.94
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 25,836.5 $31,623.48
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 627,303.07 $679,398.63
91324P102 UNITEDHEALTH GROUP INC US UNH 274.99 $114,468.89
92276F100 VENTAS INC US VTR 37.33 $2,088.10
92343V104 VERIZON COMMUNICATIONS US VZ 126.98 $6,983.81
92343VCV4 VERIZON COMMUNICATIONS 4.27200 01/15/2036 US 14,453.99 $17,287.02
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 708.32 $141,868.95
92826C839 VISA INC - CLASS A SHARES US V 783.41 $179,478.35
92840VAH5 VISTRA OPERATIONS CO LLC 4.37500 05/01/2029 US 1,626.07 $1,650.46
929160109 VULCAN MATERIALS CO US VMC 337.1 $62,677.59
929740108 WABTEC CORP US WAB 1,081.88 $97,142.09
931142103 WAL MART STORES US WMT 67.21 $9,953.96
93114W107 WALMART DE MEXICO MX WMMVY 3,212.4 $114,232.90
94106L109 WASTE MANAGEMENT INC US WM 21.54 $3,340.52
95040Q104 WELLTOWER INC. US WELL 44.59 $3,903.01
963320106 WHIRLPOOL CORP US WHR 4.95 $1,096.68
969457BY5 WILLIAMS COMPANIES INC 2.60000 03/15/2031 US 10,840.49 $11,061.58
969904101 WILLIAMS - SONOMA INC US WSM 5.85 $1,092.92
98978V103 ZOETIS INC US ZTS 221.98 $45,407.64
B02J639 ADMIRAL GROUP PLC GB ADM LN 341.76 $16,980.96
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 437.23 $2,635.29
B1L3CS6 UBISOFT ENTERTAINMENT FR UBI FP 89.04 $5,655.77
B1Y9TB3 DANONE FR BN FP 143.74 $10,497.08
B1YXBJ7 AIR LIQUIDE FR AI FP 73.61 $13,193.48
B3QJ0H8 TOURMALINE OIL CORP CA TOU CN 301.47 $8,062.25
B4YVF56 BRENNTAG AG DE BNR GR 677.31 $68,353.39
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 95.97 $4,119.49
BFZZM64 S4 CAPITAL PLC GB SFOR LN 1,000.94 $11,201.78
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 1,064.28 $1,592.79
BJ2KSG2 AKZO NOBEL NL AKZA NA 32.85 $4,048.00
BJ9JY53 JINXIN FERTILITY GROUP CN 1951 HK 1,662.21 $2,641.31
BJXMLF7 AVANZA BANK HOLDING AB SE AZA SS 164.78 $6,347.15
BK0939417 AMERICAN TANKER INC 7.75000 07/02/2025 US 3,071.47 $3,147.49
BKWD4B5 SOFTWAREONE HOLDING AG CH SWON SW 324.06 $9,180.91
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 2,394.34 $147,881.09
BMXKJ81 FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 140.89 $2,550.11
BN7860420 PETROTAL CORP 12.00000 02/16/2024 CA 1,445.4 $1,503.21
BNGN9Z1 FINECOBANK SPA IT FBK IM 886.54 $16,331.81
BO8204600 COPPER MOUNTAIN MINING C 8.00000 04/09/2026 CA 10,840.49 $11,328.31
BP3061408 AIRSWIFT GLOBAL AS FLT 8.62275 05/12/2025 NO 7,226.99 $7,154.72
BQ0584657 JERVOIS MINING LTD 12.50000 07/20/2026 AU 7,226.99 $7,631.34
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 879.49 $7,605.49
BW1YVH8 WALMART DE MEXICO SAB DE CV MX WALMEX MM 1,507.37 $5,349.05
BYPC1T4 ASSA ABLOY AB-B SE ASSAB SS 119.43 $3,821.72
BYT1DJ1 INTERMEDIATE CAPITAL GROUP GB ICP LN 286.66 $8,668.41
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 805.38 $49,395.53
BZ1HM42 ADYEN NV NL ADYEN NA 2.31 $7,474.62
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 156.28 $5,205.81
G16962105 BUNGE LIMITED US BG 11.96 $905.54
G29183103 EATON CORP PLC US ETN 19.66 $3,309.52
G3223R108 EVEREST RE GROUP LTD BM RE 3.36 $890.21
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 43.47 $3,251.58
G5494J103 LINDE PLC GB LIN 19.3 $6,070.35
G5960L103 MEDTRONIC INC IE MDT 925.02 $123,471.55
G85158106 STONECO LTD-A BR STNE 183.57 $8,543.15
H01301128 ALCON INC CH ALC 934.78 $77,090.94
H1467J104 CHUBB LTD CH CB 19.66 $3,615.39
H2906T109 GARMIN LTD CH GRMN 12.39 $2,161.94
USD US DOLLAR US 287,493.41 $287,493.41
ZO1818103 NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 MH 5,420.25 $5,664.16
ZO4110185 BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 7,226.99 $7,082.45

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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