Investment Objective

To provide capital preservation and manage risk for investors who have already reached their target date or who desire minimal capital risk as they move towards a future target date.

Investment Strategy

The portfolio is invested in a conservative mix of securities that seeks preservation of capital, with income and long-term capital growth as secondary objectives. The portfolio is diversified primarily among fixed income securities, typically focusing on short to intermediate-term maturities. A position in various stock investments, which may be focused on dividend paying stocks, adds potential for growth opportunities and income generation. For the most part, this approach favors stability over growth. Stock exposure can range from 15% - 45%.

May be Appropriate for Investors

  • Who have reached their target date or are already in retirement and seek to minimize declines in account value with potential for modest capital growth and income generation
  • Who have a future target date and want to assume a minimal amount of capital risk through limited stock exposure
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio

About Target Date Funds

A target date fund is a single investment portfolio designed to meet an investor’s changing needs over time. The fund gradually shifts from a more aggressive to a more conservative investment objective over the years to reflect an appropriate risk/return trade-off for the investor’s changing time horizon.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Daily Price

$16.67

Daily $ Change

$0.00

Daily % Change

0.00%

as of 07/19/2018

CUSIP

302027651

Inception Date

05/31/2007

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

Performance

As of 06/30/2018

YTD

-0.30%

1 Year

3.32%

3 Year

3.21%

5 Year

3.87%

10 Year

5.10%

Inception
(01/01/2000)

5.69%

US Stock Market Cycle (04/01/2000 - 06/30/2018)

5.63%

Performance through 06/04/2012 reflects the performance of the Retirement Target Institutional CIT Fund, which was merged into the Retirement Target CIT Fund on 06/04/2012 to establish the Class I units. Performance through the Institutional CIT Fund inception date (05/31/2007) is based on historical performance data of the Manning & Napier Pro-Mix® CIT Fund(s) that would have been held according to the Retirement Target CIT Fund’s glide path. Returns are net of the Class I expenses. 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 0.69%
Net 0.69%*

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

Top Ten Investments

As of 06/30/2018

TREASURY NOTES 15.15%
GOVERNMENT AGENCY 9.10%
TREASURY BONDS 3.42%
TREASURY BILLS 2.65%
SWEDISH EXPORT CREDIT 1.12500 08/28/2019 1.10%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 1.08%
PRICELINE GROUP INC/THE 3.60000 06/01/2026 1.00%
BOARDWALK PIPELINES LP 5.95000 06/01/2026 1.00%
EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 1.00%
JPMORGAN CHASE & CO 6.30000 04/23/2019 1.00%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 06/30/2018

Bonds 69.49%
Stocks 29.29%
Cash 1.22%

Detailed Asset Class Allocation

As of 06/30/2018

International Equities 5.86%
Small Capitalization 1.06%
Mid Capitalization 2.12%
Large Capitalization 20.26%
Long Term Fixed Income 20.49%
Intermediate Term Fixed Income 29.24%
Short Term Fixed Income 19.75%
Cash 1.22%

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

June Fund Holdings

As of 06/30/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
000375204 ABB LTD-SPON ADR CH ABB 1,822.91 $39,684.64
00163UAB2 AMAG PHARMACEUTICALS INC 7.87500 09/01/2023 US 23,557.28 $24,985.44
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 419,747.86 $410,813.45
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 728,134.05 $716,047.03
00287Y109 ABBVIE INC US ABBV 973.13 $90,160.47
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 44,972.99 $46,547.04
004239109 ACADIA REALTY TRUST US AKR 329.8 $9,026.68
008492100 AGREE REALTY CORP US ADC 145.63 $7,684.73
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 10,707.85 $11,075.45
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 55.68 $7,025.25
01609W102 ALIBABA GROUP - ADR CN BABA 950.86 $176,412.57
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 693,868.92 $646,504.25
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 21,415.71 $21,522.79
020002101 ALLSTATE CORPORATION US ALL 190.6 $17,396.04
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 23,557.28 $23,527.83
02079K107 ALPHABET INC-CL C US GOOG 126.35 $140,965.36
02079K305 ALPHABET INC-CL A US GOOGL 124.21 $140,257.94
023135106 AMAZON.COM INC US AMZN 42.83 $72,804.84
02319V103 AMBEV SA-ADR BR ABEV 37,434.66 $173,322.46
0237400 DIAGEO PLC GB DGE LN 8,362.83 $300,442.02
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 353.36 $15,152.04
02665T306 AMERICAN HOMES 4 RENT- A US AMH 1,389.88 $30,827.53
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 449,729.85 $430,691.92
026874784 AMERICAN INTL GROUP INC US AIG 286.97 $15,215.17
03027X100 AMERICAN TOWER REIT INC US AMT 486.14 $70,086.31
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 15,142.95 $15,279.73
03064D108 AMERICOLD REALTY TRUST US COLD 252.71 $5,564.57
031162100 AMGEN INC US AMGN 415.89 $76,769.70
03748R101 APARTMENT INVT & MGMT CO -A US AIV 498.99 $21,107.11
037612306 APOLLO GLOBAL MANAGMENT - A US APO 839.5 $26,754.73
037833100 APPLE COMPUTER INC US AAPL 383.34 $70,960.28
03784Y200 APPLE HOSPITALITY REIT INC US APLE 681.02 $12,176.63
03969AAL4 ARDAGH PKG FIN/HLDGS USA 6.00000 02/15/2025 IE 17,132.57 $16,682.84
04014Y101 ARES MANAGEMENT LP US ARES 848.06 $17,554.88
04621WAC4 ASSURED GUARANTY US HLDG 5.00000 07/01/2024 US 454,013 $474,436.78
053015103 AUTOMATIC DATA PROCESSING US ADP 351.22 $47,112.33
053484101 AVALONBAY COMMUNITIES INC US AVB 306.24 $52,640.39
055622104 BP PLC-SPONS ADR GB BP 1,916.71 $87,516.79
058498106 BALL CORP US BLL 5,855.05 $208,147.18
060505104 BANK OF AMERICA CORP US BAC 3,889.09 $109,633.52
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 659,603.79 $651,129.49
06652K103 BANKUNITED INC US BKU 492.56 $20,121.13
088606108 BHP LIMITED-SPONS ADR AU BHP 1,261.39 $63,081.87
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 2,921.1 $275,167.85
09062X103 BIOGEN IDEC INC US BIIB 454.01 $131,772.73
09247X101 BLACKROCK INC US BLK 484 $241,532.86
09253U108 BLACKSTONE GROUP LP/THE US BX 815.94 $26,248.74
09627J102 BLUEROCK RESIDENTIAL GROWTH US 633.9 $5,654.43
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 608,206.09 $652,212.30
097023105 BOEING CO US BA 323.38 $108,496.28
09857L108 BOOKING HOLDINGS INC US BKNG 205.59 $416,751.04
0989529 ASTRAZENECA PLC GB AZN LN 554.67 $38,364.70
101121101 BOSTON PROPERTIES INC US BXP 271.98 $34,111.67
105368203 BRANDYWINE REALTY TRUST US BDN 1,689.7 $28,522.12
110122108 BRISTOL MYERS SQUIBB CO US BMY 4,028.29 $222,925.82
11135F101 BROADCOM INC US AVGO 200.02 $48,533.51
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 27,840.42 $27,283.61
1248EPBR3 CCO HLDGS LLC/CAP CORP 5.50000 05/01/2026 US 17,132.57 $16,613.45
125269100 CF INDUSTRIES HOLDINGS INC US CF 4,642.93 $206,145.89
125896100 CMS ENERGY CORP US CMS 708.86 $33,514.90
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 436,880.43 $437,229.93
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 40,689.84 $38,451.90
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 226,886.94 $211,651.46
126650100 CVS HEALTH CORP US CVS 688.73 $44,319.72
14041NFF3 CAPITAL ONE MULTI-ASSET 1.33000 06/15/2022 US 149,909.95 $147,559.51
14314WAD3 CARMX 2017-3 A3 1.97000 04/15/2022 US 170,469.03 $167,955.67
149123101 CATERPILLAR INC US CAT 326.8 $44,337.46
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 5,940.72 $75,625.33
149806AA9 CAZ 2015-1A A 2.00000 12/10/2023 US 37,849.88 $37,660.63
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 40,689.84 $38,451.90
16411QAA9 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 32,123.56 $31,334.93
165240102 CHESAPEAKE LODGING TRUST US CHSP 355.5 $11,248.04
166764100 CHEVRON CORP US CVX 490.42 $62,003.76
16941R108 CHINA PETROLEUM & CHEM-ADR CN SNP 801.38 $71,995.60
17275R102 CISCO SYSTEMS INC US CSCO 2,558.32 $110,084.53
172967424 CITIGROUP INC US C 1,392.02 $93,154.04
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 449,729.85 $632,601.54
194162103 COLGATE-PALMOLIVE CO US CL 726.42 $47,079.33
19625JAA1 CAH 2015-1A A 3.24638 07/17/2032 US 372,365.52 $372,195.61
19626G108 COLONY CAPITAL INC US CLNY 4,716.6 $29,431.56
198287203 COLUMBIA PROPERTY TRUST INC US CXP 406.9 $9,240.66
199908104 COMFORT SYSTEMS US FIX 813.8 $37,271.90
20030N101 COMCAST CORP-CL A US CMCSA 2,073.04 $68,016.46
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 1,558.21 $46,543.64
2099084 BORALEX INC -A CA BLX CN 1,006.54 $16,124.21
21871N101 CORECIVIC INC US CXW 2,694.1 $64,361.95
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 385,482.73 $430,852.84
222795106 COUSINS PROPERTIES INC US CUZ 2,944.66 $28,533.75
22282E102 COVANTA HOLDING CORP US CVA 2,587.02 $42,685.79
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 21,415.71 $20,933.85
22822V101 CROWN CASTLE INTL CORP US CCI 631.76 $68,116.73
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 166,040.05 $154,135.97
229663109 CUBESMART US CUBE 636.05 $20,493.42
23311RAC0 DCP MIDSTREAM OPERATING 9.75000 03/15/2019 US 14,991 $15,609.37
23331A109 DR HORTON INC US DHI 79.24 $3,248.76
23918K108 DAVITA INC. US DVA 2,899.69 $201,354.25
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 29,981.99 $28,220.55
247361702 DELTA AIR LINES INC. US DAL 548.24 $27,159.91
25271C102 DIAMOND OFFSHORE DRILLING US DO 4,411.64 $92,026.72
253393102 DICK'S SPORTING GOODS INC US DKS 848.06 $29,894.19
253868103 DIGITAL REALTY TRUST INC US DLR 563.23 $62,845.55
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 449,729.85 $436,213.06
256677105 DOLLAR GENERAL CORP US DG 659.6 $65,036.93
26078J100 DOWDUPONT INC US DWDP 1,090.49 $71,884.96
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 36,406.7 $36,224.67
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 42,831.41 $42,831.41
269246401 ETRADE FINANCIAL CORP US ETFC 1,861.03 $113,820.29
2715777 QUEBECOR INC -CL B CA QBR/B CN 3,405.1 $69,725.95
277276101 EASTGROUP PROPERTIES US EGP 64.25 $6,139.45
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 3,109.56 $63,343.12
285512109 ELECTRONIC ARTS US EA 1,317.07 $185,732.65
2866857 LUNDIN MINING CORP CA LUN CN 10,238.85 $56,932.26
291011104 EMERSON ELEC CO US EMR 575.23 $39,771.12
294429105 EQUIFAX INC US EFX 1,430.57 $178,978.52
29444U700 EQUINIX INC US EQIX 642.47 $276,191.95
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 156.33 $14,367.16
29476L107 EQUITY RESIDENTIAL US EQR 490.42 $31,234.83
297178105 ESSEX PROPERTY TRUST INC US ESS 68.53 $16,383.53
30161N101 EXELON CORP US EXC 496.84 $21,165.57
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 663,886.93 $651,742.45
30225T102 EXTRA SPACE STORAGE INC US EXR 212.02 $21,161.27
30231G102 EXXON MOBIL CORP US XOM 1,897.43 $156,974.52
302491303 FMC CORP US FMC 691.73 $61,709.00
30251JAA9 FDIC 2011-R1 A 2.67200 07/25/2026 US 29,292.08 $29,183.44
30262SAR9 FREMF 2015-K42 B FLT 3.98362 12/25/2024 US 77,096.55 $76,788.16
30287EAE0 FREMF 2014-K41 B FLT 3.96234 11/25/2047 US 299,819.9 $299,153.34
30291EAE4 FREMF 2013-K712 B FLT 3.47721 05/25/2045 US 492,561.27 $493,675.64
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 4,732,045.59 $17,418.66
30303M102 FACEBOOK INC -A US FB 3,208.07 $623,392.74
3128M1AM1 FHLM POOL G11912 5.50000 03/01/2021 US 7,257.85 $7,375.56
3128M6HZ4 FHLM POOL G04448 5.50000 07/01/2038 US 82,569.29 $89,374.51
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 1,812.45 $1,960.76
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 7,380.57 $8,144.25
3128M82W3 FHLM POOL G06789 6.00000 05/01/2040 US 64,168.48 $70,629.91
3128M9ZU9 FHLM POOL G07655 5.50000 12/01/2035 US 21,117.05 $22,900.90
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 46,165.02 $47,707.47
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 3,544.99 $3,669.32
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 3,140.57 $3,261.95
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 297,592.46 $310,923.52
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 43,983.5 $47,562.74
3128P75F6 FHLM POOL C91746 4.50000 12/01/2033 US 23,339.08 $24,419.45
312941ZQ3 FHLM POOL Q93451 4.50000 08/01/2040 US 225,094.44 $236,727.07
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 70,482.64 $72,063.36
3132WJYG0 FHLM POOL Q45210 4.00000 01/01/2047 US 174,522.2 $178,194.59
3132WPDP9 FHLM GOLD POOL FG Q49109 4.00000 07/01/2047 US 212,002.8 $216,346.01
3132XSLZ1 FHLM GOLD POOL FG Q50343 4.00000 08/01/2047 US 242,932.36 $247,843.54
3132XTPU6 FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 US 266,571.66 $271,970.72
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 4,405.57 $4,459.89
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 187,694.33 $187,759.22
31371MLB1 FEDERAL NATL MTG ASSN 256022 5.50000 12/01/2035 US 26,508.97 $28,758.43
31371MRU3 FEDERAL NATL MTG ASSN 256199 5.00000 04/01/2021 US 3,437.96 $3,506.65
31371NDQ5 FEDERAL NATL MTG ASSN 256711 5.50000 05/01/2037 US 3,520.28 $3,813.98
3137A2B34 FHMS K009 X1 FLT 1.45484 08/25/2020 US 483,166.26 $10,819.73
3137ADTK3 FHMS K014 X1 FLT 1.34101 04/25/2021 US 4,765,722.35 $131,470.08
3137AJMG6 FMHS K016 X1 FLT 1.67213 10/25/2021 US 1,099,570.8 $44,724.93
3137AL6W4 FHMS K706 X1 FLT 1.68593 10/25/2018 US 1,475,687.58 $2,239.95
3137AUPF0 FHMS K021 x1 FLT 1.58997 06/25/2022 US 6,908,378.66 $328,869.91
3137B3NB0 FHMS K030 X1 FLT 0.31344 04/25/2023 US 13,180,322.77 $112,334.57
3137B4GZ3 FHMS K032 X1 FLT 0.22073 05/25/2023 US 7,737,984.69 $40,168.65
3137F4YU0 FHLM POOL FHR4791 4.00000 03/15/2044 US 251,896.78 $258,089.66
3137FG2L8 FHLM POOL 4801 4.50000 05/15/2044 US 250,003.74 $259,643.31
3138A7BL1 FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 US 125,756.62 $131,865.66
3138AJ4A7 FEDERAL NATL MTG ASSN AI5316 4.50000 07/01/2041 US 13,663.15 $14,237.27
3138EPLE2 FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 US 48,988.37 $51,485.67
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65100 01/01/2049 US 312,798.11 $336,873.56
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 312,973.95 $329,890.50
3138YTGK4 FEDERAL NATL MTG ASSN AZ2001 3.50000 05/01/2045 US 466,730.94 $466,005.39
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 29,801.55 $32,341.79
31403DVZ9 FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 US 4,980.53 $5,535.47
31406PTV1 FEDERAL NATL MTG ASSN 816064 4.50000 04/01/2020 US 3,519.79 $3,545.49
3140F4UB0 FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 300,558.78 $306,652.50
3140F9M51 FEDERAL NATL MTG ASSN BD2179 4.00000 07/01/2046 US 51,870.75 $52,922.44
3140FA5G3 FEDERAL NATL MTG ASSN FN BD3546 4.00000 09/01/2047 US 153,837.87 $157,148.73
3140FPGW3 FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 US 259,830.06 $265,152.04
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 2,450.2 $2,530.57
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 3,051.83 $3,151.18
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 23,795.69 $24,349.03
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 29,033.17 $29,724.65
31410HAQ4 MACYS RETAIL HLDGS INC 6.90000 04/01/2029 US 192,741.37 $206,997.20
31410KLD4 FEDERAL NATL MTG ASSN 889624 5.50000 05/01/2038 US 8,330.56 $9,005.72
31410WSY5 FEDERAL NATL MTG ASSN 899735 6.50000 09/01/2037 US 5,807.82 $6,487.52
31411JXP6 FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 US 19,572.4 $21,161.46
31411RHZ4 FEDERAL NATL MTG ASSN 912948 5.00000 05/01/2038 US 1,949.54 $2,066.94
31413CCL1 FEDERAL NATL MTG ASSN 941175 6.00000 11/01/2037 US 2,408.14 $2,631.84
31413MR66 FEDERAL NATL MTG ASSN 949709 6.50000 09/01/2037 US 8,343.54 $9,197.15
31413S6R0 FEDERAL NATL MTG ASSN 954580 6.00000 02/01/2038 US 5,180.93 $5,693.75
31414CQ50 FEDERAL NATL MTG ASSN 962276 6.00000 03/01/2038 US 1,154.89 $1,270.71
31414DJ23 FEDERAL NATL MTG ASSN 962981 6.00000 05/01/2038 US 5,976.88 $6,578.27
31414QX28 FEDERAL NATL MTG ASSN 973297 4.50000 03/01/2023 US 4,297.22 $4,365.80
31414UF52 FEDERAL NATL MTG ASSN 976388 4.50000 04/01/2023 US 21,826.66 $22,090.73
31415ALX7 FEDERAL NATL MTG ASSN 981042 6.00000 04/01/2038 US 5,497.1 $6,007.76
31415BBC2 FEDERAL NATL MTG ASSN 981635 5.00000 06/01/2038 US 6,706.83 $7,164.05
31415BBT5 FEDERAL NATL MTG ASSN 981650 5.00000 06/01/2038 US 4,597.07 $4,877.05
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 16,271.73 $16,659.74
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 8,195.39 $8,618.55
31418B6G6 FEDERAL NATL MTG ASSN FN MA2670 3.00000 07/01/2046 US 188,571.77 $182,949.72
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 120,553.09 $126,146.36
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 105,845.25 $110,759.21
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 207,789.01 $201,593.94
31418CRE6 FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 254,759.69 $265,850.04
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 14,083.68 $15,473.05
31418MJC7 FEDERAL NATL MTG ASSN AD0258 5.50000 03/01/2039 US 50,135.15 $54,218.42
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 8,648.88 $9,363.09
31428X106 FEDEX CORPORATION US FDX 770.97 $175,055.42
316773100 FIFTH THIRD BANCORP US FITB 732.42 $21,020.37
32054K103 FIRST INDUSTRIAL REALTY TR US FR 511.84 $17,064.59
336130AB5 FIRST QUALITY FINANCE CO 5.00000 07/01/2025 US 25,698.85 $23,514.45
345605109 FOREST CITY REALTY TRUST - A US FCE/A 603.92 $13,775.48
357081AE8 FREMF 2015-K720 B FLT 3.50443 07/25/2022 US 42,831.41 $41,934.30
35802XAA1 FRESENIUS MED CARE US 6.50000 09/15/2018 US 17,132.57 $17,245.73
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BD82246 EAGLE BULK SHIPCO 8.25000 11/28/2022 MH 85,662.83 $86,947.77
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 42,831.41 $38,976.59
BFYM460 UNIBAIL-RODAMCO-WESTFIELD FR URW NA 81.38 $17,918.91
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 7,343.45 $12,863.53
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 2,415.69 $121,304.94
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 4,908.48 $167,154.16
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 3,366.55 $339,567.34
G3157S106 ENSCO INTERNATIONAL INC US ESV 12,476.79 $90,581.50
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 34,265.13 $35,550.07
G5960L103 MEDTRONIC INC IE MDT 4,391.51 $375,956.74
G96629103 WILLIS TOWERS WATSON PLC GB WLTW 126.35 $19,155.07
H1467J104 CHUBB LTD CH CB 199.17 $25,298.08
H8817H100 TRANSOCEAN LTD US RIG 9,572.82 $128,658.72
N47279109 INTERXION HOLDING NX NL INXN 565.37 $35,290.69
N53745100 LYONDELLBASELL INDU-CL A US LYB 364.5 $40,039.81
USD US DOLLAR US 807,923.17 $807,923.17

Based on the investments of the underlying fund(s): Manning & Napier Pro-Mix® Conservative Term CIT Fund. Investments will change over time. 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 over 45 years of experience managing life cycle investment objectives. The Firm’s active management approach focuses on participating in rising markets and, as important, helping to reduce the risk of large losses in sustained bear market periods. A team of investment analysts and professionals make all investment decisions in an effort to provide investors with strong risk-adjusted returns.

Daily Price

$16.67

Daily $ Change

$0.00

Daily % Change

0.00%

as of 07/19/2018

CUSIP

302027651

Inception Date

05/31/2007

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 preservation and manage risk for investors who have already reached their target date or who desire minimal capital risk as they move towards a future target date.

Investment Strategy

The portfolio is invested in a conservative mix of securities that seeks preservation of capital, with income and long-term capital growth as secondary objectives. The portfolio is diversified primarily among fixed income securities, typically focusing on short to intermediate-term maturities. A position in various stock investments, which may be focused on dividend paying stocks, adds potential for growth opportunities and income generation. For the most part, this approach favors stability over growth. Stock exposure can range from 15% - 45%.

May be Appropriate for Investors

  • Who have reached their target date or are already in retirement and seek to minimize declines in account value with potential for modest capital growth and income generation
  • Who have a future target date and want to assume a minimal amount of capital risk through limited stock exposure
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio

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 06/30/2018

YTD

-0.30%

1 Year

3.32%

3 Year

3.21%

5 Year

3.87%

10 Year

5.10%

Inception
(01/01/2000)

5.69%

US Stock Market Cycle (04/01/2000 - 06/30/2018)

5.63%

Performance through 06/04/2012 reflects the performance of the Retirement Target Institutional CIT Fund, which was merged into the Retirement Target CIT Fund on 06/04/2012 to establish the Class I units. Performance through the Institutional CIT Fund inception date (05/31/2007) is based on historical performance data of the Manning & Napier Pro-Mix® CIT Fund(s) that would have been held according to the Retirement Target CIT Fund’s glide path. Returns are net of the Class I expenses. 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 0.69%
Net 0.69%*

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

Top Ten Investments

As of 06/30/2018

TREASURY NOTES 15.15%
GOVERNMENT AGENCY 9.10%
TREASURY BONDS 3.42%
TREASURY BILLS 2.65%
SWEDISH EXPORT CREDIT 1.12500 08/28/2019 1.10%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 1.08%
PRICELINE GROUP INC/THE 3.60000 06/01/2026 1.00%
BOARDWALK PIPELINES LP 5.95000 06/01/2026 1.00%
EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 1.00%
JPMORGAN CHASE & CO 6.30000 04/23/2019 1.00%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 06/30/2018

Bonds
69.49%
Stocks
29.29%
Cash
1.22%

Detailed Asset Class Allocation

As of 06/30/2018

International Equities
5.86%
Small Capitalization
1.06%
Mid Capitalization
2.12%
Large Capitalization
20.26%
Long Term Fixed Income
20.49%
Intermediate Term Fixed Income
29.24%
Short Term Fixed Income
19.75%
Cash
1.22%

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

June Fund Holdings

As of 06/30/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
000375204 ABB LTD-SPON ADR CH ABB 1,822.91 $39,684.64
00163UAB2 AMAG PHARMACEUTICALS INC 7.87500 09/01/2023 US 23,557.28 $24,985.44
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 419,747.86 $410,813.45
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 728,134.05 $716,047.03
00287Y109 ABBVIE INC US ABBV 973.13 $90,160.47
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 44,972.99 $46,547.04
004239109 ACADIA REALTY TRUST US AKR 329.8 $9,026.68
008492100 AGREE REALTY CORP US ADC 145.63 $7,684.73
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 10,707.85 $11,075.45
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 55.68 $7,025.25
01609W102 ALIBABA GROUP - ADR CN BABA 950.86 $176,412.57
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 693,868.92 $646,504.25
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 21,415.71 $21,522.79
020002101 ALLSTATE CORPORATION US ALL 190.6 $17,396.04
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 23,557.28 $23,527.83
02079K107 ALPHABET INC-CL C US GOOG 126.35 $140,965.36
02079K305 ALPHABET INC-CL A US GOOGL 124.21 $140,257.94
023135106 AMAZON.COM INC US AMZN 42.83 $72,804.84
02319V103 AMBEV SA-ADR BR ABEV 37,434.66 $173,322.46
0237400 DIAGEO PLC GB DGE LN 8,362.83 $300,442.02
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 353.36 $15,152.04
02665T306 AMERICAN HOMES 4 RENT- A US AMH 1,389.88 $30,827.53
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 449,729.85 $430,691.92
026874784 AMERICAN INTL GROUP INC US AIG 286.97 $15,215.17
03027X100 AMERICAN TOWER REIT INC US AMT 486.14 $70,086.31
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 15,142.95 $15,279.73
03064D108 AMERICOLD REALTY TRUST US COLD 252.71 $5,564.57
031162100 AMGEN INC US AMGN 415.89 $76,769.70
03748R101 APARTMENT INVT & MGMT CO -A US AIV 498.99 $21,107.11
037612306 APOLLO GLOBAL MANAGMENT - A US APO 839.5 $26,754.73
037833100 APPLE COMPUTER INC US AAPL 383.34 $70,960.28
03784Y200 APPLE HOSPITALITY REIT INC US APLE 681.02 $12,176.63
03969AAL4 ARDAGH PKG FIN/HLDGS USA 6.00000 02/15/2025 IE 17,132.57 $16,682.84
04014Y101 ARES MANAGEMENT LP US ARES 848.06 $17,554.88
04621WAC4 ASSURED GUARANTY US HLDG 5.00000 07/01/2024 US 454,013 $474,436.78
053015103 AUTOMATIC DATA PROCESSING US ADP 351.22 $47,112.33
053484101 AVALONBAY COMMUNITIES INC US AVB 306.24 $52,640.39
055622104 BP PLC-SPONS ADR GB BP 1,916.71 $87,516.79
058498106 BALL CORP US BLL 5,855.05 $208,147.18
060505104 BANK OF AMERICA CORP US BAC 3,889.09 $109,633.52
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 659,603.79 $651,129.49
06652K103 BANKUNITED INC US BKU 492.56 $20,121.13
088606108 BHP LIMITED-SPONS ADR AU BHP 1,261.39 $63,081.87
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 2,921.1 $275,167.85
09062X103 BIOGEN IDEC INC US BIIB 454.01 $131,772.73
09247X101 BLACKROCK INC US BLK 484 $241,532.86
09253U108 BLACKSTONE GROUP LP/THE US BX 815.94 $26,248.74
09627J102 BLUEROCK RESIDENTIAL GROWTH US 633.9 $5,654.43
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 608,206.09 $652,212.30
097023105 BOEING CO US BA 323.38 $108,496.28
09857L108 BOOKING HOLDINGS INC US BKNG 205.59 $416,751.04
0989529 ASTRAZENECA PLC GB AZN LN 554.67 $38,364.70
101121101 BOSTON PROPERTIES INC US BXP 271.98 $34,111.67
105368203 BRANDYWINE REALTY TRUST US BDN 1,689.7 $28,522.12
110122108 BRISTOL MYERS SQUIBB CO US BMY 4,028.29 $222,925.82
11135F101 BROADCOM INC US AVGO 200.02 $48,533.51
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 27,840.42 $27,283.61
1248EPBR3 CCO HLDGS LLC/CAP CORP 5.50000 05/01/2026 US 17,132.57 $16,613.45
125269100 CF INDUSTRIES HOLDINGS INC US CF 4,642.93 $206,145.89
125896100 CMS ENERGY CORP US CMS 708.86 $33,514.90
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 436,880.43 $437,229.93
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 40,689.84 $38,451.90
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 226,886.94 $211,651.46
126650100 CVS HEALTH CORP US CVS 688.73 $44,319.72
14041NFF3 CAPITAL ONE MULTI-ASSET 1.33000 06/15/2022 US 149,909.95 $147,559.51
14314WAD3 CARMX 2017-3 A3 1.97000 04/15/2022 US 170,469.03 $167,955.67
149123101 CATERPILLAR INC US CAT 326.8 $44,337.46
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 5,940.72 $75,625.33
149806AA9 CAZ 2015-1A A 2.00000 12/10/2023 US 37,849.88 $37,660.63
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 40,689.84 $38,451.90
16411QAA9 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 32,123.56 $31,334.93
165240102 CHESAPEAKE LODGING TRUST US CHSP 355.5 $11,248.04
166764100 CHEVRON CORP US CVX 490.42 $62,003.76
16941R108 CHINA PETROLEUM & CHEM-ADR CN SNP 801.38 $71,995.60
17275R102 CISCO SYSTEMS INC US CSCO 2,558.32 $110,084.53
172967424 CITIGROUP INC US C 1,392.02 $93,154.04
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 449,729.85 $632,601.54
194162103 COLGATE-PALMOLIVE CO US CL 726.42 $47,079.33
19625JAA1 CAH 2015-1A A 3.24638 07/17/2032 US 372,365.52 $372,195.61
19626G108 COLONY CAPITAL INC US CLNY 4,716.6 $29,431.56
198287203 COLUMBIA PROPERTY TRUST INC US CXP 406.9 $9,240.66
199908104 COMFORT SYSTEMS US FIX 813.8 $37,271.90
20030N101 COMCAST CORP-CL A US CMCSA 2,073.04 $68,016.46
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 1,558.21 $46,543.64
2099084 BORALEX INC -A CA BLX CN 1,006.54 $16,124.21
21871N101 CORECIVIC INC US CXW 2,694.1 $64,361.95
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 385,482.73 $430,852.84
222795106 COUSINS PROPERTIES INC US CUZ 2,944.66 $28,533.75
22282E102 COVANTA HOLDING CORP US CVA 2,587.02 $42,685.79
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 21,415.71 $20,933.85
22822V101 CROWN CASTLE INTL CORP US CCI 631.76 $68,116.73
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 166,040.05 $154,135.97
229663109 CUBESMART US CUBE 636.05 $20,493.42
23311RAC0 DCP MIDSTREAM OPERATING 9.75000 03/15/2019 US 14,991 $15,609.37
23331A109 DR HORTON INC US DHI 79.24 $3,248.76
23918K108 DAVITA INC. US DVA 2,899.69 $201,354.25
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 29,981.99 $28,220.55
247361702 DELTA AIR LINES INC. US DAL 548.24 $27,159.91
25271C102 DIAMOND OFFSHORE DRILLING US DO 4,411.64 $92,026.72
253393102 DICK'S SPORTING GOODS INC US DKS 848.06 $29,894.19
253868103 DIGITAL REALTY TRUST INC US DLR 563.23 $62,845.55
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 449,729.85 $436,213.06
256677105 DOLLAR GENERAL CORP US DG 659.6 $65,036.93
26078J100 DOWDUPONT INC US DWDP 1,090.49 $71,884.96
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 36,406.7 $36,224.67
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 42,831.41 $42,831.41
269246401 ETRADE FINANCIAL CORP US ETFC 1,861.03 $113,820.29
2715777 QUEBECOR INC -CL B CA QBR/B CN 3,405.1 $69,725.95
277276101 EASTGROUP PROPERTIES US EGP 64.25 $6,139.45
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 3,109.56 $63,343.12
285512109 ELECTRONIC ARTS US EA 1,317.07 $185,732.65
2866857 LUNDIN MINING CORP CA LUN CN 10,238.85 $56,932.26
291011104 EMERSON ELEC CO US EMR 575.23 $39,771.12
294429105 EQUIFAX INC US EFX 1,430.57 $178,978.52
29444U700 EQUINIX INC US EQIX 642.47 $276,191.95
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 156.33 $14,367.16
29476L107 EQUITY RESIDENTIAL US EQR 490.42 $31,234.83
297178105 ESSEX PROPERTY TRUST INC US ESS 68.53 $16,383.53
30161N101 EXELON CORP US EXC 496.84 $21,165.57
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 663,886.93 $651,742.45
30225T102 EXTRA SPACE STORAGE INC US EXR 212.02 $21,161.27
30231G102 EXXON MOBIL CORP US XOM 1,897.43 $156,974.52
302491303 FMC CORP US FMC 691.73 $61,709.00
30251JAA9 FDIC 2011-R1 A 2.67200 07/25/2026 US 29,292.08 $29,183.44
30262SAR9 FREMF 2015-K42 B FLT 3.98362 12/25/2024 US 77,096.55 $76,788.16
30287EAE0 FREMF 2014-K41 B FLT 3.96234 11/25/2047 US 299,819.9 $299,153.34
30291EAE4 FREMF 2013-K712 B FLT 3.47721 05/25/2045 US 492,561.27 $493,675.64
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 4,732,045.59 $17,418.66
30303M102 FACEBOOK INC -A US FB 3,208.07 $623,392.74
3128M1AM1 FHLM POOL G11912 5.50000 03/01/2021 US 7,257.85 $7,375.56
3128M6HZ4 FHLM POOL G04448 5.50000 07/01/2038 US 82,569.29 $89,374.51
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 1,812.45 $1,960.76
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 7,380.57 $8,144.25
3128M82W3 FHLM POOL G06789 6.00000 05/01/2040 US 64,168.48 $70,629.91
3128M9ZU9 FHLM POOL G07655 5.50000 12/01/2035 US 21,117.05 $22,900.90
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 46,165.02 $47,707.47
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 3,544.99 $3,669.32
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 3,140.57 $3,261.95
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 297,592.46 $310,923.52
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 43,983.5 $47,562.74
3128P75F6 FHLM POOL C91746 4.50000 12/01/2033 US 23,339.08 $24,419.45
312941ZQ3 FHLM POOL Q93451 4.50000 08/01/2040 US 225,094.44 $236,727.07
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 70,482.64 $72,063.36
3132WJYG0 FHLM POOL Q45210 4.00000 01/01/2047 US 174,522.2 $178,194.59
3132WPDP9 FHLM GOLD POOL FG Q49109 4.00000 07/01/2047 US 212,002.8 $216,346.01
3132XSLZ1 FHLM GOLD POOL FG Q50343 4.00000 08/01/2047 US 242,932.36 $247,843.54
3132XTPU6 FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 US 266,571.66 $271,970.72
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 4,405.57 $4,459.89
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 187,694.33 $187,759.22
31371MLB1 FEDERAL NATL MTG ASSN 256022 5.50000 12/01/2035 US 26,508.97 $28,758.43
31371MRU3 FEDERAL NATL MTG ASSN 256199 5.00000 04/01/2021 US 3,437.96 $3,506.65
31371NDQ5 FEDERAL NATL MTG ASSN 256711 5.50000 05/01/2037 US 3,520.28 $3,813.98
3137A2B34 FHMS K009 X1 FLT 1.45484 08/25/2020 US 483,166.26 $10,819.73
3137ADTK3 FHMS K014 X1 FLT 1.34101 04/25/2021 US 4,765,722.35 $131,470.08
3137AJMG6 FMHS K016 X1 FLT 1.67213 10/25/2021 US 1,099,570.8 $44,724.93
3137AL6W4 FHMS K706 X1 FLT 1.68593 10/25/2018 US 1,475,687.58 $2,239.95
3137AUPF0 FHMS K021 x1 FLT 1.58997 06/25/2022 US 6,908,378.66 $328,869.91
3137B3NB0 FHMS K030 X1 FLT 0.31344 04/25/2023 US 13,180,322.77 $112,334.57
3137B4GZ3 FHMS K032 X1 FLT 0.22073 05/25/2023 US 7,737,984.69 $40,168.65
3137F4YU0 FHLM POOL FHR4791 4.00000 03/15/2044 US 251,896.78 $258,089.66
3137FG2L8 FHLM POOL 4801 4.50000 05/15/2044 US 250,003.74 $259,643.31
3138A7BL1 FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 US 125,756.62 $131,865.66
3138AJ4A7 FEDERAL NATL MTG ASSN AI5316 4.50000 07/01/2041 US 13,663.15 $14,237.27
3138EPLE2 FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 US 48,988.37 $51,485.67
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65100 01/01/2049 US 312,798.11 $336,873.56
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 312,973.95 $329,890.50
3138YTGK4 FEDERAL NATL MTG ASSN AZ2001 3.50000 05/01/2045 US 466,730.94 $466,005.39
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 29,801.55 $32,341.79
31403DVZ9 FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 US 4,980.53 $5,535.47
31406PTV1 FEDERAL NATL MTG ASSN 816064 4.50000 04/01/2020 US 3,519.79 $3,545.49
3140F4UB0 FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 300,558.78 $306,652.50
3140F9M51 FEDERAL NATL MTG ASSN BD2179 4.00000 07/01/2046 US 51,870.75 $52,922.44
3140FA5G3 FEDERAL NATL MTG ASSN FN BD3546 4.00000 09/01/2047 US 153,837.87 $157,148.73
3140FPGW3 FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 US 259,830.06 $265,152.04
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 2,450.2 $2,530.57
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 3,051.83 $3,151.18
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 23,795.69 $24,349.03
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 29,033.17 $29,724.65
31410HAQ4 MACYS RETAIL HLDGS INC 6.90000 04/01/2029 US 192,741.37 $206,997.20
31410KLD4 FEDERAL NATL MTG ASSN 889624 5.50000 05/01/2038 US 8,330.56 $9,005.72
31410WSY5 FEDERAL NATL MTG ASSN 899735 6.50000 09/01/2037 US 5,807.82 $6,487.52
31411JXP6 FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 US 19,572.4 $21,161.46
31411RHZ4 FEDERAL NATL MTG ASSN 912948 5.00000 05/01/2038 US 1,949.54 $2,066.94
31413CCL1 FEDERAL NATL MTG ASSN 941175 6.00000 11/01/2037 US 2,408.14 $2,631.84
31413MR66 FEDERAL NATL MTG ASSN 949709 6.50000 09/01/2037 US 8,343.54 $9,197.15
31413S6R0 FEDERAL NATL MTG ASSN 954580 6.00000 02/01/2038 US 5,180.93 $5,693.75
31414CQ50 FEDERAL NATL MTG ASSN 962276 6.00000 03/01/2038 US 1,154.89 $1,270.71
31414DJ23 FEDERAL NATL MTG ASSN 962981 6.00000 05/01/2038 US 5,976.88 $6,578.27
31414QX28 FEDERAL NATL MTG ASSN 973297 4.50000 03/01/2023 US 4,297.22 $4,365.80
31414UF52 FEDERAL NATL MTG ASSN 976388 4.50000 04/01/2023 US 21,826.66 $22,090.73
31415ALX7 FEDERAL NATL MTG ASSN 981042 6.00000 04/01/2038 US 5,497.1 $6,007.76
31415BBC2 FEDERAL NATL MTG ASSN 981635 5.00000 06/01/2038 US 6,706.83 $7,164.05
31415BBT5 FEDERAL NATL MTG ASSN 981650 5.00000 06/01/2038 US 4,597.07 $4,877.05
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 16,271.73 $16,659.74
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 8,195.39 $8,618.55
31418B6G6 FEDERAL NATL MTG ASSN FN MA2670 3.00000 07/01/2046 US 188,571.77 $182,949.72
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459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 585.51 $81,795.11
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464287598 ISHARES RUSSELL 1000 VALUE US 396.19 $48,089.61
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534187109 LINCOLN NATL CORP IND US LNC 261.27 $16,264.16
539830109 LOCKHEED MARTIN CORP US LMT 196.6 $58,080.41
550021109 LULULEMON - ADR CA LULU 1,901.71 $237,429.09
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56585A102 MARATHON PETROLEUM CORP US MPC 449.73 $31,553.05
5671735 SANOFI-AVENTIS FR SAN FP 562.38 $45,136.12
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609207105 MONDELEZ INTERNATIONAL INC US MDLZ 1,704.69 $69,892.30
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624758108 MUELLER WATER PRODUCTS INC - A US MWA 4,373.09 $51,252.58
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64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 164,465.15 $164,225.79
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 197,500.12 $197,902.23
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 245,415.17 $245,647.31
651229106 NEWELL BRANDS INC US NWL 1,137.17 $29,327.72
65409QBB7 NIELSEN FINANCE LLC/CO 5.00000 04/15/2022 US 17,132.57 $16,834.46
654106103 NIKE INC CLASS B US NKE 244.14 $19,453.00
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67091GAA1 OCI NV 6.62500 04/15/2023 NL 32,123.56 $32,627.90
67103H107 O'REILLY AUTOMOTIVE INC US ORLY 177.75 $48,627.17
680223104 OLD REPUBLIC INTL CORP US ORI 923.02 $18,377.27
683235AA3 ONTARIO (PROVINCE OF) 2.00000 09/27/2018 CA 192,741.37 $192,585.25
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69007J106 OUTFRONT MEDIA INC US OUT 1,124.32 $21,868.11
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713448108 PEPSICO INC US PEP 1,127.32 $122,731.64
71654QCJ9 PETROLEOS MEXICANOS 6.35000 02/12/2048 MX 681,019.49 $614,620.09
717081103 PFIZER INC US PFE 3,047.03 $110,546.13
71943U104 PHYSICIANS REALTY TRUST US DOC 1,764.65 $28,128.59
729640102 PLYMOUTH INDUSTRIAL REIT INC US 205.59 $3,289.45
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74333KAA6 PROG 2017-SFR2 A 2.89700 12/17/2034 US 128,494.24 $124,566.61
74340W103 PROLOGIS US PLD 961.57 $63,165.22
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 411,181.58 $434,310.55
74460D109 PUBLIC STORAGE INC US PSA 169.18 $38,381.10
74736K101 QORVO INC US QRVO 4,585.1 $367,587.70
749685103 RPM INTERNATIONAL INC US RPM 458.3 $26,727.83
758849103 REGENCY CENTERS CORP US REG 250.56 $15,555.00
75886F107 REGENERON PHARMACEUTICALS INC US REGN 1,075.07 $370,887.89
7591EP100 REGIONS FINANCIAL CORP. US RF 1,207.85 $21,475.50
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 139.2 $4,369.55
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780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 631.76 $45,897.61
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78442PGC4 SLM CORP 5.12500 04/05/2022 US 27,840.42 $27,701.22
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785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 603,922.95 $647,704.05
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806857108 SCHLUMBERGER LTD NL SLB 3,649.24 $244,608.33
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81211K100 SEALED AIR CORP US SEE 5,195.45 $220,546.88
812578102 SEATTLE GENETICS INC US SGEN 2,863.28 $190,093.16
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83088M102 SKYWORKS SOLUTIONS INC US SWKS 2,985.35 $288,534.04
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83402DAC5 SOFI 2016-C A2B 2.36000 12/27/2032 US 173,895.54 $168,662.12
83404FAB0 SOFI 2017-A A2A 1.55000 03/26/2040 US 11,571.58 $11,472.85
83404LAC5 SOFI 2016-D A2B 2.34000 04/25/2033 US 55,680.84 $54,361.88
83405DAB4 SOFI 2017-C A2A 1.75000 07/25/2040 US 16,528.77 $16,385.83
83405LAA8 SCLP 2017-5 A1 2.14000 09/25/2026 US 162,392.8 $161,507.97
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85571XAA5 SRPT 2014-STAR A FLTG RATE 3.29325 11/15/2027 US 393,990.33 $394,166.36
866674104 SUN COMMUNITIES US SUI 297.68 $29,136.76
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 1,090.06 $18,116.79
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87612E106 TARGET CORP US TGT 512.69 $39,026.12
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 102,005.75 $101,878.14
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 25,698.85 $22,871.98
88032WAG1 TENCENT HOLDINGS LTD 3.59500 01/19/2028 KY 454,013 $429,505.37
88146M101 TERRENO REALTY CORP US TRNO 94.23 $3,549.61
88161DAA9 TESLA 2018-A A 2.32000 12/20/2019 US 126,520.98 $126,107.15
882508104 TEXAS INSTRUMENTS INC US TXN 2,493.22 $274,877.14
88579Y101 3M CO US MMM 534.11 $105,069.68
88650V208 TIER REIT INC US TIER 582.51 $13,852.02
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 406,707.29 $397,183.10
89613BAA5 TAH 2013-SFR1 A 2.58900 11/17/2033 US 346,151.2 $334,983.39
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 214,157.07 $206,277.61
896356AE2 TRINIDAD DRILLING LTD 6.62500 02/15/2025 CA 32,123.56 $30,918.93
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 32,123.56 $32,163.72
902653104 UDR INC US UDR 775.25 $29,102.83
902973304 U.S. BANCORP US USB 1,159.45 $57,995.51
903002103 UMH PROPERTIES INC US UMH 501.13 $7,692.31
90320MAA3 UPCB FINANCE IV LTD 5.37500 01/15/2025 KY 17,132.57 $16,277.65
904767704 UNILEVER PLC - ADR GB UL 5,623.76 $310,881.72
907818108 UNION PAC CORP US UNP 528.54 $74,883.50
911312106 UNITED PARCEL SERVICE US UPS 610.78 $64,882.73
912796PY9 TREASURY BILL 0.00000 09/06/2018 US 1,734,672.3 $1,728,701.42
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912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 801,375.77 $1,015,649.88
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 428,848 $418,693.12
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 608,206.09 $554,536.65
912828D23 US TREASURY N/B 1.62500 04/30/2019 US 4,020,156.59 $3,997,072.08
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 713,349.59 $705,743.15
912828K58 UNITED STATES TREAS NTS 1.37500 04/30/2020 US 2,039,631.97 $1,997,883.25
912828R28 US TREASURY N/B 1.62500 04/30/2023 US 1,413,436.69 $1,342,875.27
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912828RT9 US TREASURY N/B 1.37500 11/30/2018 US 428,314.15 $427,042.59
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913017109 UNITED TECHNOLOGIES CORP US UTX 555.95 $69,510.65
91704F104 URBAN EDGE PROPERTIES US UE 1,105.05 $25,272.50
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92532F100 VERTEX PHARMACEUTICALS INC US VRTX 582.51 $99,002.93
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931427108 WALGREENS BOOTS ALLIANCE INC US WBA 581.22 $34,882.06
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94856TAA2 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 32,123.56 $30,437.07
949746101 WELLS FARGO COMPANY US WFC 3,647.95 $202,242.44
95040Q104 WELLTOWER INC. US WELL 289.11 $18,124.43
962166104 WEYERHAEUSER CO US WY 826.65 $30,139.52
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 21,415.71 $21,527.07
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 19,274.14 $19,129.58
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 171,327.72 $171,527.22
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 206,753.83 $203,155.59
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 4,998.43 $182,342.58
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B29TNV3 INNERGEX RENEWABLE ENERGY CA INE CN 1,711.12 $17,974.74
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B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 171,325.66 $8,351.37
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 59,963.98 $46,837.27
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 471,145.56 $22,755.62
B4YN9R2 SINGAPORE GOVERNMENT 2.50000 06/01/2019 SG 102,795.4 $75,921.78
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 770,965.47 $39,020.61
B68XHC3 NORTHLAND POWER INC CA NPI CN 1,004.4 $18,741.00
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 149,909.95 $7,622.21
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BBG00KWNZGX9 SCHW US 06/29/18 P51.5 US -14.56 -$291.25
BBG00KZ9KMK4 QRVO US 07/20/18 P75 US -9.85 -$600.92
BBG00KZB2V74 REGN US 07/20/18 C360 US -1.71 -$856.63
BBG00KZD4H15 SGEN US 07/20/18 P60 US -12.42 -$496.84
BBG00L3N2DV4 FB US 07/27/18 P180 US -5.14 -$858.34
BD82246 EAGLE BULK SHIPCO 8.25000 11/28/2022 MH 85,662.83 $86,947.77
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 42,831.41 $38,976.59
BFYM460 UNIBAIL-RODAMCO-WESTFIELD FR URW NA 81.38 $17,918.91
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 7,343.45 $12,863.53
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 2,415.69 $121,304.94
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 4,908.48 $167,154.16
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 3,366.55 $339,567.34
G3157S106 ENSCO INTERNATIONAL INC US ESV 12,476.79 $90,581.50
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 34,265.13 $35,550.07
G5960L103 MEDTRONIC INC IE MDT 4,391.51 $375,956.74
G96629103 WILLIS TOWERS WATSON PLC GB WLTW 126.35 $19,155.07
H1467J104 CHUBB LTD CH CB 199.17 $25,298.08
H8817H100 TRANSOCEAN LTD US RIG 9,572.82 $128,658.72
N47279109 INTERXION HOLDING NX NL INXN 565.37 $35,290.69
N53745100 LYONDELLBASELL INDU-CL A US LYB 364.5 $40,039.81
USD US DOLLAR US 807,923.17 $807,923.17

Based on the investments of the underlying fund(s): Manning & Napier Pro-Mix® Conservative Term CIT Fund. Investments will change over time. 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 over 45 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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