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 13% - 47%.

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

$21.92

Daily $ Change

$0.09

Daily % Change

0.41%

as of 03/23/2023

CUSIP

563821198

Inception Date

01/06/2005

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

Important Documents

Annual Report
Applications & Forms

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

Performance

As of 02/28/2023

YTD

1.13%

1 Year

-7.69%

3 Year

1.22%

5 Year

2.83%

10 Year

3.13%

Inception
(01/01/2000)

4.88%

Performance through the inception date of the Retirement Target CIT Class S Units (01/06/2005) 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 S expenses. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.91%
Net 0.89%*

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

Top Ten Investments

As of 02/28/2023

TREASURY NOTES 34.29%
GOVERNMENT AGENCY 9.78%
TREASURY BONDS 1.53%
AMAZON.COM INC 1.42%
TENCENT HOLDINGS 3.97500 04/11/2029 1.41%
MASTERCARD INC-CLASS A 1.02%
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 1.00%
INTERCONTINENTALEXCHANGE INC 0.88%
JPMORGAN CHASE & CO 4.49300 03/24/2031 0.87%
MAGALLANES INC 4.05400 03/15/2029 0.86%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 02/28/2023

Bonds 70.03%
Stocks 27.00%
Cash 2.97%

Detailed Asset Class Allocation

As of 02/28/2023

International Equities 6.88%
Small Capitalization 0.50%
Mid Capitalization 2.39%
Large Capitalization 17.23%
Long Term Fixed Income 12.82%
Intermediate Term Fixed Income 46.29%
Short Term Fixed Income 10.92%
Cash 2.97%

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

February Fund Holdings

As of 02/28/2023

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 66.75 $6,790.00
ACTIVISION INC US ATVI 2,374.46 $181,052.38
ADIDAS AG-SPONSORED ADR DE ADDYY 1,511.67 $113,269.20
ADMIRAL GROUP PLC GB AMIGY 4,352.5 $116,912.45
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 115,641.32 $98,483.11
AGREE REALTY CORP US ADC 195.1 $13,809.48
AIR LIQUIDE-ADR FR AIQUY 6,242.2 $198,314.74
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 14,610.03 $14,927.93
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 338,163.35 $279,193.06
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 89,513.66 $71,370.97
ALLSTATE CORPORATION US ALL 27.09 $3,489.10
ALPHABET INC-CL A US GOOGL 3,332.52 $300,126.42
AMAZON.COM INC US AMZN 6,144.61 $579,006.28
AMAZON.COM INC 3.30000 04/13/2027 US 317,725.66 $300,191.37
DIAGEO PLC GB DGE LN 264.69 $11,232.53
BAE SYSTEMS PLC GB BA/ LN 2,319.66 $25,052.79
AMERICAN HOMES 4 RENT- A US AMH 298 $9,243.93
AMERICAN TOWER REIT INC US AMT 61.44 $12,165.07
AMERICOLD REALTY TRUST US COLD 400.27 $11,767.96
ANALOG DEVICES INC US ADI 37.51 $6,881.11
APARTMENT INCOME REIT CO US AIRC 228.61 $8,641.30
APPLIED MATERIALS INC US AMAT 1,043.43 $121,194.16
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 19,035.98 $19,009.53
ARCHER-DANIELS-MIDLAND CO US ADM 47.75 $3,801.16
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 151,812.69 $138,569.50
ATLASSIAN CORP PLC-CLASS A AU TEAM 77.16 $12,680.32
AUTOMATIC DATA PROCESSING US ADP 26.98 $5,931.66
BAE SYSTEMS PLC -SPON ADR GB BAESY 2,967.99 $130,457.90
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 151,230.61 $146,508.84
BANK OF AMERICA CORP 2.68700 04/22/2032 US 264,680.31 $214,530.87
BARRICK GOLD CORP CA GOLD 5,075.14 $81,811.29
BAXTER INTERNATIONAL INC US BAX 33.99 $1,357.89
BEST BUY INC US BBY 24.83 $2,063.71
BIOMARIN PHARMACEUTICAL INC US BMRN 1,916.38 $190,851.78
DECHRA PHARMACEUTICALS PLC GB DPH LN 417.3 $13,707.35
BRANDYWINE REALTY TRUST US BDN 643.12 $3,788.00
BRISTOL MYERS SQUIBB CO US BMY 124.4 $8,578.60
BROADRIDGE FINANCIAL SOLUTIONS US BR 13.25 $1,864.80
JONAH ENERGY PARENT LLC US 757.82 $36,549.84
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 133,165.85 $119,224.79
SORT 2020-1 A2 1.99000 07/15/2060 US 108,078.2 $90,870.63
C.H. ROBINSON WORLDWIDE INC US CHRW 17.53 $1,751.98
CIM 2019-INV1 A1 4.00000 02/25/2049 US 4,414.83 $4,225.53
COMM 2014-UBS4 A5 3.69400 08/10/2047 US 196,715.16 $190,844.01
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 38,203.89 $33,507.15
COTERRA ENERGY INC US CTRA 69.75 $1,741.66
CAMDEN PROPERTY TRUST US CPT 78.64 $9,024.22
CAMPBELL SOUP CO US CPB 39.99 $2,100.08
CANADIAN NATIONAL RAILWAY CO CA CNI 1,125.33 $128,163.80
CARETRUST REIT INC US CTRE 490.05 $9,639.29
CATERPILLAR INC US CAT 37.75 $9,042.88
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 751.35 $14,110.28
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 161,966.79 $168,972.78
CHEVRON CORP US CVX 68.52 $11,016.35
CINCINNATI FINANCIAL CORP US CINF 16.74 $2,020.06
CISCO SYSTEMS INC US CSCO 216.42 $10,479.05
CITIGROUP INC US C 136.61 $6,924.82
CITIGROUP INC 1.46200 06/09/2027 US 252,985.5 $221,602.15
CLARK CNTY NV 1.51000 11/01/2028 US 306,761.39 $255,261.14
COCA COLA CO/THE US KO 3,129.48 $186,235.42
COLGATE-PALMOLIVE CO US CL 63.07 $4,623.20
COMCAST CORP-CL A US CMCSA 234.46 $8,715.03
CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 35,848.81 $32,756.02
COMMUNITY HEALTHCARE TRUST I US CHCT 339.62 $13,157.06
CONAGRA BRAND INC. US CAG 58.27 $2,121.77
CONOCOPHILLIPS US COP 64.95 $6,712.81
COPART INC US CPRT 1,746.36 $123,048.71
COUSINS PROPERTIES INC US CUZ 525.62 $12,872.47
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 106,554.04 $98,477.69
CAALT 2021-2A A 0.96000 02/15/2030 US 195,289.47 $189,306.18
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 22,670.91 $18,951.23
CUMMINS INC US CMI 14.94 $3,630.78
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 158,007.54 $137,827.12
COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 US 153,104.53 $141,189.89
KIMBERLY CLARK DE MEXICO S.A.B. MX KIMBERA MM 12,342.33 $24,689.38
DEVON ENERGY CORPORATION US DVN 48.05 $2,590.97
DIAMONDBACK ENERGY INC US FANG 15.16 $2,130.51
DIGITAL REALTY TRUST INC US DLR 141.46 $14,744.77
DOLLAR TREE STORES INC US DLTR 827.58 $120,230.75
DOW INC US DOW 45.65 $2,611.46
DREYFUS GVT CSH MANAGEMENT US 1,248,541.62 $1,248,541.62
EOG RESOURCES INC US EOG 35.02 $3,958.46
EASTMAN CHEM CO US EMN 16.46 $1,402.65
EBAY INC US EBAY 41.29 $1,895.40
ELECTRONIC ARTS US EA 967.86 $107,374.01
EMERSON ELEC CO US EMR 48.54 $4,015.06
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 341,626.05 $339,172.02
EQUINIX INC US EQIX 256.31 $176,413.69
EQUITY COMMONWEALTH US EQC 353.69 $7,508.85
EQUITY LIFESTYLE PROPERTIES US ELS 328.25 $22,488.73
ESSEX PROPERTY TRUST INC US ESS 29.19 $6,657.50
EVERGY INC US EVRG 2,249.78 $132,309.44
FMC CORP US FMC 2,203.98 $284,643.62
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 44,373.74 $44,397.31
META PLATFORMS INC US META 1,707.8 $298,762.94
FHLM POOL G03332 6.00000 10/01/2037 US 1,116.66 $1,171.01
FHLM POOL G05900 6.00000 03/01/2040 US 2,323.94 $2,437.06
FHLM POOL G05906 6.00000 04/01/2040 US 3,244.66 $3,402.59
FHLM POOL G06789 6.00000 05/01/2040 US 13,875.55 $14,550.94
FHLM POOL G06995 6.00000 05/01/2040 US 6,855.12 $7,188.80
FHLM POOL G13331 5.50000 10/01/2023 US 245.15 $244.24
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 52,381.26 $51,401.56
FHLM POOL FG G08734 4.00000 11/01/2046 US 3,413.65 $3,263.92
FHLM POOL C91746 4.50000 12/01/2033 US 3,742.14 $3,687.81
FHLM POOL Q93451 4.50000 08/01/2040 US 41,744.52 $41,333.11
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 280,832.87 $249,788.91
FHLM POOL SD8230 4.50000 06/01/2052 US 266,973.34 $257,009.35
FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 US 23,841.53 $22,755.61
FHLM POOL G60034 4.50000 02/01/2045 US 54,209.23 $53,554.22
FREDDIE MAC POOL RB5167 3.50000 07/01/2042 US 160,421.22 $148,107.05
FREDDIE MAC POOL RB5188 4.00000 10/01/2042 US 160,177.84 $152,121.37
FNR 2018-31 KP 3.50000 07/25/2047 US 4,668.6 $4,495.25
FHMS K030 X1 FLT 0.13807 04/25/2023 US 1,697,683.72 $266.11
FHMS K032 X1 FLT 0.05833 05/25/2023 US 4,906,370.64 $807.34
FHR 5189 CP 2.50000 06/25/2049 US 86,557.42 $74,739.76
FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 US 23,076.44 $22,825.46
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 3,975.18 $3,931.94
FEDERAL NATL MTG ASSN AI5316 4.50000 07/01/2041 US 6,812.99 $6,738.89
FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 US 7,928.03 $7,841.80
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 30,440.51 $30,109.44
FEDERAL NATL MTG ASSN AL8674 FLT 5.65000 01/01/2049 US 119,115.09 $123,288.59
FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 66,775.03 $65,902.60
FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 US 1,019.77 $1,085.98
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 7,713.74 $7,139.02
FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 28,885.51 $27,591.59
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 21,127.27 $20,180.87
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 168,668.5 $155,335.86
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 268,016.13 $247,963.02
FN DS2696 3.00000 12/01/2051 US 133,498.09 $119,145.06
FEDERAL NATL MTG ASSN FS2998 3.50000 04/01/2052 US 164,754.75 $151,731.48
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 6,970.39 $7,301.39
FEDERAL NATL MTG ASSN 899735 6.50000 09/01/2037 US 775.16 $825.55
FEDERAL NATL MTG ASSN 941175 6.00000 11/01/2037 US 366.88 $384.31
FEDERAL NATL MTG ASSN 949709 6.50000 09/01/2037 US 3,093.97 $3,295.12
FEDERAL NATL MTG ASSN 954580 6.00000 02/01/2038 US 1,908.63 $1,999.27
FEDERAL NATL MTG ASSN 962276 6.00000 03/01/2038 US 509.49 $533.74
FEDERAL NATL MTG ASSN 962981 6.00000 05/01/2038 US 1,163.96 $1,219.36
FEDERAL NATL MTG ASSN 973297 4.50000 03/01/2023 US 11.99 $11.99
FEDERAL NATL MTG ASSN 976388 4.50000 04/01/2023 US 20.05 $20.05
FEDERAL NATL MTG ASSN 981635 5.00000 06/01/2038 US 752.79 $758.29
FEDERAL NATL MTG ASSN 981650 5.00000 06/01/2038 US 389.14 $391.99
FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 1,375.19 $1,359.78
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 31,502.95 $31,019.10
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 24,913.17 $24,530.53
FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 27,188.72 $26,654.20
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 20,892.92 $19,621.53
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 313,810.79 $272,927.82
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 296,158.18 $269,456.51
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 289,808.56 $271,700.22
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 285,560.84 $271,179.29
FN MA4733 4.50000 09/01/2052 US 127,936 $123,160.07
FN MA4807 MTGE 5.50000 11/01/2052 US 243,085.28 $242,659.13
FN MA4934 MTGE 5.00000 02/01/2043 US 402,922.97 $400,209.79
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 3,485.25 $3,650.76
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 4,744.73 $4,968.45
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 58.94 $58.49
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 9,788.31 $9,682.37
FIFTH THIRD BANCORP US FITB 72.64 $2,636.80
FLX 2021-1A A2 3.25000 11/27/2051 US 257,541.06 $229,287.19
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 182,490.01 $172,441.22
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 233,347.69 $200,653.64
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 116,885.83 $100,516.80
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 54,609.05 $46,927.04
GSMBS 2021-INV1 A9 5.00000 12/25/2051 US 96,076.26 $89,015.85
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 64,231.16 $54,899.66
GNMA POOL 660997 5.50000 05/15/2037 US 4,600.91 $4,742.49
GENERAL DYNAMICS CORP US GD 21.72 $4,951.02
GENERAL MLS INC US GIS 54.81 $4,358.22
GENUINE PARTS CO US GPC 17.04 $3,012.81
GETTY REALTY CORP US GTY 508.83 $17,468.15
GILEAD SCIENCES INC US GILD 95.83 $7,717.55
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 25,046.72 $24,971.58
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 55,899.17 $46,838.60
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 28,140.97 $26,239.28
GREENIDGE GEN HLD INC US 1,093.69 $6,004.37
GRUPO AEROPORTUARIO PAC-ADR MX PAC 18.21 $3,460.98
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 12.21 $3,494.70
AIRBUS SE FR AIR FP 93.06 $12,187.91
ADIDAS AG DE ADS GR 141.34 $21,109.26
HDFC BANK LTD-ADR IN HDB 330.68 $22,367.50
L'OREAL FR OR FP 11.48 $4,536.01
HAWAII ST 2.68200 10/01/2038 US 156,694.92 $116,215.29
HEALTHCARE REALTY TRUST INC US HR 1,087.63 $21,208.78
HEINEKEN NV-SPN ADR NL HEINY 3,551.81 $181,532.96
HOME DEPOT INC US HD 45.47 $13,482.32
HONEYWELL INTERNATIONAL INC US HON 44.46 $8,512.49
IDEXX LABORATORIES INC US IDXX 299.88 $141,915.24
KERRY GROUP PLC-A IE KYGA ID 161.36 $15,449.60
ILLINOIS TOOL WKS INC US ITW 23.09 $5,382.76
IMPRL 2021-NQM3 1.59500 11/25/2056 US 137,233.28 $113,732.03
INDEPENDENCE REALTY TRUST IN US IRT 411.58 $7,445.46
INTEL CORP US INTC 224.18 $5,588.89
INTERCONTINENTALEXCHANGE INC US ICE 3,515.06 $357,833.34
INTERNATIONAL FLVRS & FRAGRANCES US IFF 24.67 $2,298.98
INTUIT INC US INTU 273.51 $111,366.35
INTUITIVE SURGICAL INC US ISRG 523.64 $120,118.16
INVITATION HOMES INC US INVH 507.18 $15,854.33
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 37,525.53 $35,478.79
JP MORGAN CHASE & CO US JPM 131.87 $18,903.28
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 29,941.32 $28,255.58
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 376,490.71 $354,946.33
JOHNSON & JOHNSON US JNJ 2,288.82 $350,785.18
KEYCORP US KEY 76.37 $1,396.87
KROGER CO US KR 64.76 $2,793.86
L3HARRIS TECHNOLOGIES INC US LHX 860.95 $181,823.37
BEIERSDORF AG DE BEI GR 129.14 $15,412.65
LENNAR CORP US LEN 23.03 $2,228.06
LEXINGTON REALTY TRUST US LXP 820.92 $8,562.16
OASIS 2023-1A 7.00000 02/15/2035 US 142,850.04 $142,582.95
LIFE STORAGE INC US LSI 125.46 $15,120.86
LOCKHEED MARTIN CORP US LMT 17.04 $8,079.01
LULULEMON - ADR CA LULU 29.03 $8,975.44
MAGALLANES INC 4.05400 03/15/2029 US 393,614.18 $351,701.50
MARATHON PETROLEUM CORP US MPC 38.49 $4,756.79
MARRIOTT VACATIONS WORLD US VAC 39.66 $6,067.34
MASCO CORP US MAS 2,188.2 $114,727.45
MASTERCARD INC-CLASS A US MA 1,172.58 $416,604.86
MCDONALDS CORP US MCD 30.5 $8,049.19
MERCADOLIBRE INC BR MELI 12.95 $15,795.88
MERCK & CO INC US MRK 132.33 $14,059.19
MICROSOFT CORP US MSFT 1,003.42 $250,273.11
MICROCHIP TECHNOLOGY INC US MCHP 37.56 $3,043.49
MICRON TECHNOLOGY INC US MU 2,010.45 $116,244.43
MID-AMERICA APARTMENT COMM US MAA 112.68 $18,040.06
MONDELEZ INTERNATIONAL INC US MDLZ 3,452.81 $225,054.20
MOODY'S CORPORATION US MCO 697.28 $202,315.14
MOTOROLA SOLUTIONS INC US MSI 15.21 $3,997.28
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 57,648.25 $51,414.62
NAVIENT CORP 6.75000 06/25/2025 US 44,774.65 $44,147.30
NESTLE S.A. - ADR CH NSRGY 1,471.94 $165,615.56
NETAPP INC US NTAP 26.87 $1,734.77
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 44,113.44 $40,324.09
NRZT 2015-2A A1 3.75000 08/25/2055 US 49,608.86 $45,657.47
NRZT 2016-4A A1 3.75000 11/25/2056 US 78,221.79 $71,350.05
KEYENCE CORP JP 6861 JP 21.86 $9,447.30
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 172,725.53 $157,288.31
NEWMONT GOLDCORP CORP US NEM 1,182.32 $51,560.80
NIKE INC CLASS B US NKE 1,017.37 $120,852.79
NORFOLK SOUTHN CORP US NSC 503.28 $113,147.81
NIKON CORP JP 7731 JP 973.06 $9,637.87
NORTHROP GRUMMAN CORP US NOC 403.76 $187,389.37
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 53,719.48 $5.37
NOVARTIS AG- REG CH NVS 3,145.23 $264,576.57
NUCOR CORP US NUE 23.52 $3,938.73
OBX 2022-INV1 A1 3.00000 12/25/2051 US 69,408.17 $58,204.54
OMNICOM GROUP US OMC 25.4 $2,300.76
SONY CORP FIRST SECTION JP 6758 JP 283.43 $23,699.53
TOKYO ELECTRON LTD JP 8035 JP 21.86 $7,499.26
OXFIN 2020-1A A2 3.10100 02/15/2028 US 71,733.86 $70,936.50
OXFIN 2019-1A A2 4.45900 02/15/2027 US 57,558.5 $57,161.16
OXFIN 2022-1A 3.60200 02/15/2030 US 230,525.42 $209,245.85
OXFIN 2023-1A A2 6.71600 02/15/2031 US 222,159.72 $219,053.70
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 12,275.93 $11,090.46
PPG INDUSTRIES INC US PPG 16.46 $2,174.11
PACKAGING CORP OF AMERICA US PKG 12.05 $1,647.15
PARKER HANNIFIN CORP US PH 8.83 $3,107.12
DEUTSCHE BOERSE AG DE DB1 GR 127.48 $22,229.50
PAYPAL HOLDINGS INC US PYPL 1,778.37 $130,887.75
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 225,970.2 $213,802.15
PEAR 2022-1 A1 6.50000 10/15/2034 US 76,074.34 $76,035.62
PELORUS FUND REIT 7.00000 09/30/2026 US 28,637.11 $26,774.84
NESTLE SA-REGISTERED CH NESN SW 185.43 $20,892.33
PEPSICO INC 3.90000 07/18/2032 US 289,162.78 $271,503.23
PFIZER INC US PFE 196.36 $7,966.23
PIONEER NATURAL RESOURCES CO US PXD 15.56 $3,119.02
POPULAR INC 6.12500 09/14/2023 PR 43,554.09 $43,354.51
PROCTER & GAMBLE CO US PG 103.63 $14,255.43
PROLOGIS US PLD 700.36 $86,424.98
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 234,948.39 $188,604.90
PFMT 2021-2 A2A 2.00000 04/25/2051 US 145,796.81 $122,426.72
PUBLIC STORAGE INC US PSA 105.27 $31,469.37
QUALCOMM INC US QCOM 65.69 $8,114.45
QUALCOMM INC 4.25000 05/20/2032 US 120,214.82 $115,037.86
QUALCOMM 5.40000 05/20/2033 US 156,231.58 $160,892.65
QUEST DIAGNOSTICS INC US DGX 14.94 $2,066.62
RCKT 2021-6 A1 2.50000 12/25/2051 US 205,261.94 $164,677.67
RADIUS GLOBAL INFRASTRUCTURE US RADI 2,350.06 $32,031.28
REALTY INCOME CORP US O 207.89 $13,294.43
REGIONS FINANCIAL CORP. US RF 111.21 $2,593.37
REPUBLIC SERVICES INC US RSG 28.57 $3,682.92
RESTAURANT BRANDS INTERN CA QSR 199.2 $12,846.11
REXFORD INDUSTRIAL REALITY IN US REXR 356.6 $21,560.12
GETINGE AB-B SHS SE GETIB SS 1,009.29 $21,692.92
ROSS STORES INC US ROST 25.35 $2,802.02
HEINEKEN NV NL HEIA NA 157.44 $16,047.12
SBA TOWER TRUST 1.88400 01/15/2026 US 94,532.56 $83,682.24
SBA TOWER TRUST 6.59900 01/15/2028 US 223,255.53 $230,425.02
S&P GLOBAL INC US SPGI 232.53 $79,340.47
SBA COMMUNICATIONS CORP US SBAC 1,086.05 $281,666.66
SLMA 2006-10 A6 FLT 4.96771 03/25/2044 US 21,079.64 $20,409.59
SMB 2015 B A3 6.33786 05/17/2032 US 61,447.03 $61,313.51
SMB 2020-BA A1A 1.29000 07/15/2053 US 132,782.99 $115,438.47
SALESFORCE INC US CRM 710.21 $116,197.71
SEMT 2013-6 A2 3.00000 05/25/2043 US 42,622.92 $37,557.23
SEMT 2013-7 A2 3.00000 06/25/2043 US 23,815.39 $21,011.15
SEMT 2013-8 A1 3.00000 06/25/2043 US 27,765.13 $24,591.74
SEMT 2013-2 1.87400 02/25/2043 US 20,906.84 $18,015.85
SERVICENOW INC US NOW 477.86 $206,514.81
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 503,529.89 $406,925.71
SKYWORKS SOLUTIONS INC US SWKS 14.09 $1,572.18
SMB 2019-B A2A 2.84000 06/15/2037 US 102,380.31 $94,479.96
JM SMUCKER CO/THE-NEW COM WI US SJM 13.63 $2,015.55
SNOWFLAKE INC-CLASS A US SNOW 765.27 $118,141.62
SOFI 2016-D A2B 2.34000 04/25/2033 US 2,168.16 $2,138.83
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 25,393.6 $24,558.03
SOUTH CAROLINA ST PUBLIC SVC 1.85200 12/01/2026 US 70,792.43 $62,255.93
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 42,075.19 $35,811.79
STAG INDUSTRIAL INC US STAG 153.24 $5,154.93
STANLEY BLACK & DECKER INC US SWK 11.99 $1,026.72
SRPT 2014-STAR A FLTG RATE 6.05800 11/15/2027 US 298,701.65 $206,626.06
STEEL DYNAMICS INC US STLD 23.25 $2,932.06
STR 2019-1 A1 MTGE 3.65000 11/20/2049 US 69,761.13 $62,745.86
SUN COMMUNITIES US SUI 182.48 $26,120.86
SCML 2019-SBC8 2.86000 04/25/2041 US 57,790.51 $52,786.44
SYNCHRONOSS TECH US 1,896.81 $34,996.13
SYNERGY ONE LENDING 5.50000 10/14/2026 US 56,998.06 $49,748.64
TJX COMPANIES INC US TJX 64.16 $4,914.78
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 2,482.7 $216,168.64
TARGET CORP US TGT 21.83 $3,678.84
TENCENT HOLDINGS 3.97500 04/11/2029 KY 628,894.14 $576,677.49
TERRENO REALTY CORP US TRNO 296.53 $18,447.18
TEXAS INSTRUMENTS INC US TXN 38.13 $6,537.72
THERMO FISHER SCIENTIFIC INC US TMO 223.4 $121,031.39
3M CO US MMM 41.13 $4,431.37
TPMT 2016-5 A1 2.50000 10/25/2056 US 30,134.09 $29,637.08
TPMT 2017-1 A1 2.75000 10/25/2056 US 13,068.63 $12,875.17
TPMT 2019-HY1 A1 5.61700 10/25/2048 US 34,159.81 $34,064.33
TRACTOR SUPPLY COMPANY US TSCO 8.78 $2,047.13
TRAVELLERS COS INC US TRV 22.87 $4,233.24
TYSON FOODS INC -CL A US TSN 35.35 $2,094.27
UDR INC US UDR 311.68 $13,352.47
U.S. BANCORP US USB 110.61 $5,279.28
UNILEVER PLC - ADR GB UL 6,103.29 $304,737.47
UNION PAC CORP US UNP 37.67 $7,808.09
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 44,763.57 $40,155.92
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 8,691.02 $8,272.61
UNITED PARCEL SERVICE US UPS 37.1 $6,769.89
TREASURY BOND 2.37500 02/15/2042 US 813,362.53 $624,382.83
TREASURY NOTE 2.25000 11/15/2027 US 3,617,870.19 $3,314,025.64
US TREASURY N/B 3.12500 11/15/2028 US 2,066,033.83 $1,957,728.47
UNITED STATES TREAS NTS 2.25000 11/15/2024 US 1,556,212.97 $1,488,371.81
US TREASURY N/B 2.25000 11/15/2025 US 2,437,187.43 $2,294,573.89
US TREASURY N/B 2.00000 11/15/2026 US 3,154,873.28 $2,901,004.57
US TEASURY NOTE 1.75000 11/15/2029 US 1,294,768.24 $1,126,043.75
US TREASURY N/B 1.37500 11/15/2031 US 1,140,774.98 $927,949.15
VF CORP US VFC 31.24 $775.27
VENTAS INC US VTR 220.62 $10,733.00
VERTEX PHARMACEUTICALS INC US VRTX 514.77 $149,433.41
PARAMOUNT GLOBAL CLASS B US PARA 48.79 $1,045.11
VISA INC - CLASS A SHARES US V 1,389.19 $305,539.06
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 71,133.98 $68,293.77
VISTRA OPERATIONS 4.87500 05/13/2024 US 247,411.32 $243,327.34
WAL MART STORES US WMT 113.93 $16,193.33
WALGREENS BOOTS ALLIANCE INC US WBA 61.71 $2,192.55
WASTE MANAGEMENT INC US WM 32.14 $4,812.61
WELLTOWER INC. US WELL 216.31 $16,032.94
WIN 2015-1 A1 3.50000 01/20/2045 US 14,765.14 $13,454.83
ZOETIS INC US ZTS 330.42 $55,180.07
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 367.95 $3,664.51
ADMIRAL GROUP PLC GB ADM LN 969.81 $25,663.20
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 351.56 $3,361.37
UBISOFT ENTERTAINMENT FR UBI FP 305.14 $6,690.19
DANONE FR BN FP 160.85 $9,041.67
AIR LIQUIDE FR AI FP 163.86 $26,033.64
BRENNTAG AG DE BNR GR 127.53 $9,606.19
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 140,082.24 $6,993.02
KEYWORDS STUDIOS PLC IE KWS LN 125.03 $4,362.79
MEITUAN DIANPING - CLASS B CN 3690 HK 30.53 $529.83
HELIOS TOWERS PLC GB HTWS LN 5,589.18 $7,378.18
AVANZA BANK HOLDING AB SE AZA SS 575.52 $15,221.19
AMERICAN TANKER INC 7.75000 07/02/2025 US 55,905.2 $53,919.33
SOFTWAREONE HOLDING AG CH SWON SW 856.56 $14,270.36
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 1,631.37 $8,815.08
TENCENT HOLDINGS LTD CN 700 HK 305.29 $13,410.84
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 657.38 $12,293.01
SEASPAN CORP 6.50000 02/05/2024 MH 70,679.61 $70,709.72
PETROTAL CORP 12.00000 02/16/2024 CA 33,132.55 $33,960.87
IMCD NV NL IMCD NA 30.66 $4,853.79
FINECOBANK SPA IT FBK IM 1,303.09 $22,517.96
ALLFUNDS GROUP PLC GB ALLFG NA 1,255.82 $10,938.37
AUTO TRADER GROUP PLC GB AUTO LN 3,487.49 $24,942.79
CELLNEX TELECOM SA ES CLNX SM 611.73 $22,951.19
ASSA ABLOY AB-B SE ASSAB SS 656.45 $15,973.78
CLEANAWAY WASTE MANAGEMENT AU CWY AU 9,891.92 $17,639.92
INTERMEDIATE CAPITAL GROUP GB ICP LN 917.84 $15,451.77
ADYEN NV NL ADYEN NA 6.27 $8,886.86
BANK OF N.T. BUTTERFIELD&SON BM NTB 295.29 $10,674.82
BUNGE LIMITED US BG 17.5 $1,671.03
EATON CORP PLC US ETN 33.44 $5,850.24
JOHNSON CONTROLS INTERNATIONAL US JCI 65.04 $4,079.06
LINDE PLC IE LIN 26.19 $9,125.08
MEDTRONIC INC IE MDT 1,794.96 $148,622.97
RENAISSANCERE HOLDINGS LTD BM RNR 45.65 $9,810.47
ROYALTY PHARMA PLC- CL A US RPRX 47.02 $1,685.57
STONECO LTD-A BR STNE 444.51 $3,782.75
TRANE TECHNOLOGIES IE TT 16.06 $2,969.69
ALCON INC CH ALC 2,008.65 $137,069.98
CHUBB LTD CH CB 33.61 $7,091.81
GARMIN LTD CH GRMN 20.99 $2,059.52
TE CONNECTIVITY LIMITED CH TEL 20.93 $2,665.20
LYONDELLBASELL INDU-CL A US LYB 23.36 $2,242.26
PLAYA HOTELS AND RESORTS US PLYA 695.93 $6,207.71
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 54,237.33 $48,715.74

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 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

$21.92

Daily $ Change

$0.09

Daily % Change

0.41%

as of 03/23/2023

CUSIP

563821198

Inception Date

01/06/2005

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 13% - 47%.

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 02/28/2023

YTD

1.13%

1 Year

-7.69%

3 Year

1.22%

5 Year

2.83%

10 Year

3.13%

Inception
(01/01/2000)

4.88%

Performance through the inception date of the Retirement Target CIT Class S Units (01/06/2005) 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 S expenses. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.91%
Net 0.89%*

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

Top Ten Investments

As of 02/28/2023

TREASURY NOTES 34.29%
GOVERNMENT AGENCY 9.78%
TREASURY BONDS 1.53%
AMAZON.COM INC 1.42%
TENCENT HOLDINGS 3.97500 04/11/2029 1.41%
MASTERCARD INC-CLASS A 1.02%
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 1.00%
INTERCONTINENTALEXCHANGE INC 0.88%
JPMORGAN CHASE & CO 4.49300 03/24/2031 0.87%
MAGALLANES INC 4.05400 03/15/2029 0.86%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 02/28/2023

Bonds
70.03%
Stocks
27.00%
Cash
2.97%

Detailed Asset Class Allocation

As of 02/28/2023

International Equities
6.88%
Small Capitalization
0.50%
Mid Capitalization
2.39%
Large Capitalization
17.23%
Long Term Fixed Income
12.82%
Intermediate Term Fixed Income
46.29%
Short Term Fixed Income
10.92%
Cash
2.97%

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

February Fund Holdings

As of 02/28/2023

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 66.75 $6,790.00
ACTIVISION INC US ATVI 2,374.46 $181,052.38
ADIDAS AG-SPONSORED ADR DE ADDYY 1,511.67 $113,269.20
ADMIRAL GROUP PLC GB AMIGY 4,352.5 $116,912.45
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 115,641.32 $98,483.11
AGREE REALTY CORP US ADC 195.1 $13,809.48
AIR LIQUIDE-ADR FR AIQUY 6,242.2 $198,314.74
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 14,610.03 $14,927.93
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 338,163.35 $279,193.06
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 89,513.66 $71,370.97
ALLSTATE CORPORATION US ALL 27.09 $3,489.10
ALPHABET INC-CL A US GOOGL 3,332.52 $300,126.42
AMAZON.COM INC US AMZN 6,144.61 $579,006.28
AMAZON.COM INC 3.30000 04/13/2027 US 317,725.66 $300,191.37
DIAGEO PLC GB DGE LN 264.69 $11,232.53
BAE SYSTEMS PLC GB BA/ LN 2,319.66 $25,052.79
AMERICAN HOMES 4 RENT- A US AMH 298 $9,243.93
AMERICAN TOWER REIT INC US AMT 61.44 $12,165.07
AMERICOLD REALTY TRUST US COLD 400.27 $11,767.96
ANALOG DEVICES INC US ADI 37.51 $6,881.11
APARTMENT INCOME REIT CO US AIRC 228.61 $8,641.30
APPLIED MATERIALS INC US AMAT 1,043.43 $121,194.16
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 19,035.98 $19,009.53
ARCHER-DANIELS-MIDLAND CO US ADM 47.75 $3,801.16
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 151,812.69 $138,569.50
ATLASSIAN CORP PLC-CLASS A AU TEAM 77.16 $12,680.32
AUTOMATIC DATA PROCESSING US ADP 26.98 $5,931.66
BAE SYSTEMS PLC -SPON ADR GB BAESY 2,967.99 $130,457.90
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 151,230.61 $146,508.84
BANK OF AMERICA CORP 2.68700 04/22/2032 US 264,680.31 $214,530.87
BARRICK GOLD CORP CA GOLD 5,075.14 $81,811.29
BAXTER INTERNATIONAL INC US BAX 33.99 $1,357.89
BEST BUY INC US BBY 24.83 $2,063.71
BIOMARIN PHARMACEUTICAL INC US BMRN 1,916.38 $190,851.78
DECHRA PHARMACEUTICALS PLC GB DPH LN 417.3 $13,707.35
BRANDYWINE REALTY TRUST US BDN 643.12 $3,788.00
BRISTOL MYERS SQUIBB CO US BMY 124.4 $8,578.60
BROADRIDGE FINANCIAL SOLUTIONS US BR 13.25 $1,864.80
JONAH ENERGY PARENT LLC US 757.82 $36,549.84
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 133,165.85 $119,224.79
SORT 2020-1 A2 1.99000 07/15/2060 US 108,078.2 $90,870.63
C.H. ROBINSON WORLDWIDE INC US CHRW 17.53 $1,751.98
CIM 2019-INV1 A1 4.00000 02/25/2049 US 4,414.83 $4,225.53
COMM 2014-UBS4 A5 3.69400 08/10/2047 US 196,715.16 $190,844.01
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 38,203.89 $33,507.15
COTERRA ENERGY INC US CTRA 69.75 $1,741.66
CAMDEN PROPERTY TRUST US CPT 78.64 $9,024.22
CAMPBELL SOUP CO US CPB 39.99 $2,100.08
CANADIAN NATIONAL RAILWAY CO CA CNI 1,125.33 $128,163.80
CARETRUST REIT INC US CTRE 490.05 $9,639.29
CATERPILLAR INC US CAT 37.75 $9,042.88
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 751.35 $14,110.28
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 161,966.79 $168,972.78
CHEVRON CORP US CVX 68.52 $11,016.35
CINCINNATI FINANCIAL CORP US CINF 16.74 $2,020.06
CISCO SYSTEMS INC US CSCO 216.42 $10,479.05
CITIGROUP INC US C 136.61 $6,924.82
CITIGROUP INC 1.46200 06/09/2027 US 252,985.5 $221,602.15
CLARK CNTY NV 1.51000 11/01/2028 US 306,761.39 $255,261.14
COCA COLA CO/THE US KO 3,129.48 $186,235.42
COLGATE-PALMOLIVE CO US CL 63.07 $4,623.20
COMCAST CORP-CL A US CMCSA 234.46 $8,715.03
CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 35,848.81 $32,756.02
COMMUNITY HEALTHCARE TRUST I US CHCT 339.62 $13,157.06
CONAGRA BRAND INC. US CAG 58.27 $2,121.77
CONOCOPHILLIPS US COP 64.95 $6,712.81
COPART INC US CPRT 1,746.36 $123,048.71
COUSINS PROPERTIES INC US CUZ 525.62 $12,872.47
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 106,554.04 $98,477.69
CAALT 2021-2A A 0.96000 02/15/2030 US 195,289.47 $189,306.18
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 22,670.91 $18,951.23
CUMMINS INC US CMI 14.94 $3,630.78
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 158,007.54 $137,827.12
COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 US 153,104.53 $141,189.89
KIMBERLY CLARK DE MEXICO S.A.B. MX KIMBERA MM 12,342.33 $24,689.38
DEVON ENERGY CORPORATION US DVN 48.05 $2,590.97
DIAMONDBACK ENERGY INC US FANG 15.16 $2,130.51
DIGITAL REALTY TRUST INC US DLR 141.46 $14,744.77
DOLLAR TREE STORES INC US DLTR 827.58 $120,230.75
DOW INC US DOW 45.65 $2,611.46
DREYFUS GVT CSH MANAGEMENT US 1,248,541.62 $1,248,541.62
EOG RESOURCES INC US EOG 35.02 $3,958.46
EASTMAN CHEM CO US EMN 16.46 $1,402.65
EBAY INC US EBAY 41.29 $1,895.40
ELECTRONIC ARTS US EA 967.86 $107,374.01
EMERSON ELEC CO US EMR 48.54 $4,015.06
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 341,626.05 $339,172.02
EQUINIX INC US EQIX 256.31 $176,413.69
EQUITY COMMONWEALTH US EQC 353.69 $7,508.85
EQUITY LIFESTYLE PROPERTIES US ELS 328.25 $22,488.73
ESSEX PROPERTY TRUST INC US ESS 29.19 $6,657.50
EVERGY INC US EVRG 2,249.78 $132,309.44
FMC CORP US FMC 2,203.98 $284,643.62
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 44,373.74 $44,397.31
META PLATFORMS INC US META 1,707.8 $298,762.94
FHLM POOL G03332 6.00000 10/01/2037 US 1,116.66 $1,171.01
FHLM POOL G05900 6.00000 03/01/2040 US 2,323.94 $2,437.06
FHLM POOL G05906 6.00000 04/01/2040 US 3,244.66 $3,402.59
FHLM POOL G06789 6.00000 05/01/2040 US 13,875.55 $14,550.94
FHLM POOL G06995 6.00000 05/01/2040 US 6,855.12 $7,188.80
FHLM POOL G13331 5.50000 10/01/2023 US 245.15 $244.24
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 52,381.26 $51,401.56
FHLM POOL FG G08734 4.00000 11/01/2046 US 3,413.65 $3,263.92
FHLM POOL C91746 4.50000 12/01/2033 US 3,742.14 $3,687.81
FHLM POOL Q93451 4.50000 08/01/2040 US 41,744.52 $41,333.11
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 280,832.87 $249,788.91
FHLM POOL SD8230 4.50000 06/01/2052 US 266,973.34 $257,009.35
FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 US 23,841.53 $22,755.61
FHLM POOL G60034 4.50000 02/01/2045 US 54,209.23 $53,554.22
FREDDIE MAC POOL RB5167 3.50000 07/01/2042 US 160,421.22 $148,107.05
FREDDIE MAC POOL RB5188 4.00000 10/01/2042 US 160,177.84 $152,121.37
FNR 2018-31 KP 3.50000 07/25/2047 US 4,668.6 $4,495.25
FHMS K030 X1 FLT 0.13807 04/25/2023 US 1,697,683.72 $266.11
FHMS K032 X1 FLT 0.05833 05/25/2023 US 4,906,370.64 $807.34
FHR 5189 CP 2.50000 06/25/2049 US 86,557.42 $74,739.76
FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 US 23,076.44 $22,825.46
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 3,975.18 $3,931.94
FEDERAL NATL MTG ASSN AI5316 4.50000 07/01/2041 US 6,812.99 $6,738.89
FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 US 7,928.03 $7,841.80
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 30,440.51 $30,109.44
FEDERAL NATL MTG ASSN AL8674 FLT 5.65000 01/01/2049 US 119,115.09 $123,288.59
FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 66,775.03 $65,902.60
FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 US 1,019.77 $1,085.98
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 7,713.74 $7,139.02
FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 28,885.51 $27,591.59
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 21,127.27 $20,180.87
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 168,668.5 $155,335.86
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 268,016.13 $247,963.02
FN DS2696 3.00000 12/01/2051 US 133,498.09 $119,145.06
FEDERAL NATL MTG ASSN FS2998 3.50000 04/01/2052 US 164,754.75 $151,731.48
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 6,970.39 $7,301.39
FEDERAL NATL MTG ASSN 899735 6.50000 09/01/2037 US 775.16 $825.55
FEDERAL NATL MTG ASSN 941175 6.00000 11/01/2037 US 366.88 $384.31
FEDERAL NATL MTG ASSN 949709 6.50000 09/01/2037 US 3,093.97 $3,295.12
FEDERAL NATL MTG ASSN 954580 6.00000 02/01/2038 US 1,908.63 $1,999.27
FEDERAL NATL MTG ASSN 962276 6.00000 03/01/2038 US 509.49 $533.74
FEDERAL NATL MTG ASSN 962981 6.00000 05/01/2038 US 1,163.96 $1,219.36
FEDERAL NATL MTG ASSN 973297 4.50000 03/01/2023 US 11.99 $11.99
FEDERAL NATL MTG ASSN 976388 4.50000 04/01/2023 US 20.05 $20.05
FEDERAL NATL MTG ASSN 981635 5.00000 06/01/2038 US 752.79 $758.29
FEDERAL NATL MTG ASSN 981650 5.00000 06/01/2038 US 389.14 $391.99
FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 1,375.19 $1,359.78
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 31,502.95 $31,019.10
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 24,913.17 $24,530.53
FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 27,188.72 $26,654.20
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 20,892.92 $19,621.53
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 313,810.79 $272,927.82
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 296,158.18 $269,456.51
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 289,808.56 $271,700.22
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 285,560.84 $271,179.29
FN MA4733 4.50000 09/01/2052 US 127,936 $123,160.07
FN MA4807 MTGE 5.50000 11/01/2052 US 243,085.28 $242,659.13
FN MA4934 MTGE 5.00000 02/01/2043 US 402,922.97 $400,209.79
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 3,485.25 $3,650.76
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 4,744.73 $4,968.45
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 58.94 $58.49
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 9,788.31 $9,682.37
FIFTH THIRD BANCORP US FITB 72.64 $2,636.80
FLX 2021-1A A2 3.25000 11/27/2051 US 257,541.06 $229,287.19
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 182,490.01 $172,441.22
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 233,347.69 $200,653.64
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 116,885.83 $100,516.80
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 54,609.05 $46,927.04
GSMBS 2021-INV1 A9 5.00000 12/25/2051 US 96,076.26 $89,015.85
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 64,231.16 $54,899.66
GNMA POOL 660997 5.50000 05/15/2037 US 4,600.91 $4,742.49
GENERAL DYNAMICS CORP US GD 21.72 $4,951.02
GENERAL MLS INC US GIS 54.81 $4,358.22
GENUINE PARTS CO US GPC 17.04 $3,012.81
GETTY REALTY CORP US GTY 508.83 $17,468.15
GILEAD SCIENCES INC US GILD 95.83 $7,717.55
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 25,046.72 $24,971.58
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 55,899.17 $46,838.60
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 28,140.97 $26,239.28
GREENIDGE GEN HLD INC US 1,093.69 $6,004.37
GRUPO AEROPORTUARIO PAC-ADR MX PAC 18.21 $3,460.98
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 12.21 $3,494.70
AIRBUS SE FR AIR FP 93.06 $12,187.91
ADIDAS AG DE ADS GR 141.34 $21,109.26
HDFC BANK LTD-ADR IN HDB 330.68 $22,367.50
L'OREAL FR OR FP 11.48 $4,536.01
HAWAII ST 2.68200 10/01/2038 US 156,694.92 $116,215.29
HEALTHCARE REALTY TRUST INC US HR 1,087.63 $21,208.78
HEINEKEN NV-SPN ADR NL HEINY 3,551.81 $181,532.96
HOME DEPOT INC US HD 45.47 $13,482.32
HONEYWELL INTERNATIONAL INC US HON 44.46 $8,512.49
IDEXX LABORATORIES INC US IDXX 299.88 $141,915.24
KERRY GROUP PLC-A IE KYGA ID 161.36 $15,449.60
ILLINOIS TOOL WKS INC US ITW 23.09 $5,382.76
IMPRL 2021-NQM3 1.59500 11/25/2056 US 137,233.28 $113,732.03
INDEPENDENCE REALTY TRUST IN US IRT 411.58 $7,445.46
INTEL CORP US INTC 224.18 $5,588.89
INTERCONTINENTALEXCHANGE INC US ICE 3,515.06 $357,833.34
INTERNATIONAL FLVRS & FRAGRANCES US IFF 24.67 $2,298.98
INTUIT INC US INTU 273.51 $111,366.35
INTUITIVE SURGICAL INC US ISRG 523.64 $120,118.16
INVITATION HOMES INC US INVH 507.18 $15,854.33
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 37,525.53 $35,478.79
JP MORGAN CHASE & CO US JPM 131.87 $18,903.28
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 29,941.32 $28,255.58
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 376,490.71 $354,946.33
JOHNSON & JOHNSON US JNJ 2,288.82 $350,785.18
KEYCORP US KEY 76.37 $1,396.87
KROGER CO US KR 64.76 $2,793.86
L3HARRIS TECHNOLOGIES INC US LHX 860.95 $181,823.37
BEIERSDORF AG DE BEI GR 129.14 $15,412.65
LENNAR CORP US LEN 23.03 $2,228.06
LEXINGTON REALTY TRUST US LXP 820.92 $8,562.16
OASIS 2023-1A 7.00000 02/15/2035 US 142,850.04 $142,582.95
LIFE STORAGE INC US LSI 125.46 $15,120.86
LOCKHEED MARTIN CORP US LMT 17.04 $8,079.01
LULULEMON - ADR CA LULU 29.03 $8,975.44
MAGALLANES INC 4.05400 03/15/2029 US 393,614.18 $351,701.50
MARATHON PETROLEUM CORP US MPC 38.49 $4,756.79
MARRIOTT VACATIONS WORLD US VAC 39.66 $6,067.34
MASCO CORP US MAS 2,188.2 $114,727.45
MASTERCARD INC-CLASS A US MA 1,172.58 $416,604.86
MCDONALDS CORP US MCD 30.5 $8,049.19
MERCADOLIBRE INC BR MELI 12.95 $15,795.88
MERCK & CO INC US MRK 132.33 $14,059.19
MICROSOFT CORP US MSFT 1,003.42 $250,273.11
MICROCHIP TECHNOLOGY INC US MCHP 37.56 $3,043.49
MICRON TECHNOLOGY INC US MU 2,010.45 $116,244.43
MID-AMERICA APARTMENT COMM US MAA 112.68 $18,040.06
MONDELEZ INTERNATIONAL INC US MDLZ 3,452.81 $225,054.20
MOODY'S CORPORATION US MCO 697.28 $202,315.14
MOTOROLA SOLUTIONS INC US MSI 15.21 $3,997.28
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 57,648.25 $51,414.62
NAVIENT CORP 6.75000 06/25/2025 US 44,774.65 $44,147.30
NESTLE S.A. - ADR CH NSRGY 1,471.94 $165,615.56
NETAPP INC US NTAP 26.87 $1,734.77
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 44,113.44 $40,324.09
NRZT 2015-2A A1 3.75000 08/25/2055 US 49,608.86 $45,657.47
NRZT 2016-4A A1 3.75000 11/25/2056 US 78,221.79 $71,350.05
KEYENCE CORP JP 6861 JP 21.86 $9,447.30
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 172,725.53 $157,288.31
NEWMONT GOLDCORP CORP US NEM 1,182.32 $51,560.80
NIKE INC CLASS B US NKE 1,017.37 $120,852.79
NORFOLK SOUTHN CORP US NSC 503.28 $113,147.81
NIKON CORP JP 7731 JP 973.06 $9,637.87
NORTHROP GRUMMAN CORP US NOC 403.76 $187,389.37
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 53,719.48 $5.37
NOVARTIS AG- REG CH NVS 3,145.23 $264,576.57
NUCOR CORP US NUE 23.52 $3,938.73
OBX 2022-INV1 A1 3.00000 12/25/2051 US 69,408.17 $58,204.54
OMNICOM GROUP US OMC 25.4 $2,300.76
SONY CORP FIRST SECTION JP 6758 JP 283.43 $23,699.53
TOKYO ELECTRON LTD JP 8035 JP 21.86 $7,499.26
OXFIN 2020-1A A2 3.10100 02/15/2028 US 71,733.86 $70,936.50
OXFIN 2019-1A A2 4.45900 02/15/2027 US 57,558.5 $57,161.16
OXFIN 2022-1A 3.60200 02/15/2030 US 230,525.42 $209,245.85
OXFIN 2023-1A A2 6.71600 02/15/2031 US 222,159.72 $219,053.70
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 12,275.93 $11,090.46
PPG INDUSTRIES INC US PPG 16.46 $2,174.11
PACKAGING CORP OF AMERICA US PKG 12.05 $1,647.15
PARKER HANNIFIN CORP US PH 8.83 $3,107.12
DEUTSCHE BOERSE AG DE DB1 GR 127.48 $22,229.50
PAYPAL HOLDINGS INC US PYPL 1,778.37 $130,887.75
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 225,970.2 $213,802.15
PEAR 2022-1 A1 6.50000 10/15/2034 US 76,074.34 $76,035.62
PELORUS FUND REIT 7.00000 09/30/2026 US 28,637.11 $26,774.84
NESTLE SA-REGISTERED CH NESN SW 185.43 $20,892.33
PEPSICO INC 3.90000 07/18/2032 US 289,162.78 $271,503.23
PFIZER INC US PFE 196.36 $7,966.23
PIONEER NATURAL RESOURCES CO US PXD 15.56 $3,119.02
POPULAR INC 6.12500 09/14/2023 PR 43,554.09 $43,354.51
PROCTER & GAMBLE CO US PG 103.63 $14,255.43
PROLOGIS US PLD 700.36 $86,424.98
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 234,948.39 $188,604.90
PFMT 2021-2 A2A 2.00000 04/25/2051 US 145,796.81 $122,426.72
PUBLIC STORAGE INC US PSA 105.27 $31,469.37
QUALCOMM INC US QCOM 65.69 $8,114.45
QUALCOMM INC 4.25000 05/20/2032 US 120,214.82 $115,037.86
QUALCOMM 5.40000 05/20/2033 US 156,231.58 $160,892.65
QUEST DIAGNOSTICS INC US DGX 14.94 $2,066.62
RCKT 2021-6 A1 2.50000 12/25/2051 US 205,261.94 $164,677.67
RADIUS GLOBAL INFRASTRUCTURE US RADI 2,350.06 $32,031.28
REALTY INCOME CORP US O 207.89 $13,294.43
REGIONS FINANCIAL CORP. US RF 111.21 $2,593.37
REPUBLIC SERVICES INC US RSG 28.57 $3,682.92
RESTAURANT BRANDS INTERN CA QSR 199.2 $12,846.11
REXFORD INDUSTRIAL REALITY IN US REXR 356.6 $21,560.12
GETINGE AB-B SHS SE GETIB SS 1,009.29 $21,692.92
ROSS STORES INC US ROST 25.35 $2,802.02
HEINEKEN NV NL HEIA NA 157.44 $16,047.12
SBA TOWER TRUST 1.88400 01/15/2026 US 94,532.56 $83,682.24
SBA TOWER TRUST 6.59900 01/15/2028 US 223,255.53 $230,425.02
S&P GLOBAL INC US SPGI 232.53 $79,340.47
SBA COMMUNICATIONS CORP US SBAC 1,086.05 $281,666.66
SLMA 2006-10 A6 FLT 4.96771 03/25/2044 US 21,079.64 $20,409.59
SMB 2015 B A3 6.33786 05/17/2032 US 61,447.03 $61,313.51
SMB 2020-BA A1A 1.29000 07/15/2053 US 132,782.99 $115,438.47
SALESFORCE INC US CRM 710.21 $116,197.71
SEMT 2013-6 A2 3.00000 05/25/2043 US 42,622.92 $37,557.23
SEMT 2013-7 A2 3.00000 06/25/2043 US 23,815.39 $21,011.15
SEMT 2013-8 A1 3.00000 06/25/2043 US 27,765.13 $24,591.74
SEMT 2013-2 1.87400 02/25/2043 US 20,906.84 $18,015.85
SERVICENOW INC US NOW 477.86 $206,514.81
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 503,529.89 $406,925.71
SKYWORKS SOLUTIONS INC US SWKS 14.09 $1,572.18
SMB 2019-B A2A 2.84000 06/15/2037 US 102,380.31 $94,479.96
JM SMUCKER CO/THE-NEW COM WI US SJM 13.63 $2,015.55
SNOWFLAKE INC-CLASS A US SNOW 765.27 $118,141.62
SOFI 2016-D A2B 2.34000 04/25/2033 US 2,168.16 $2,138.83
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 25,393.6 $24,558.03
SOUTH CAROLINA ST PUBLIC SVC 1.85200 12/01/2026 US 70,792.43 $62,255.93
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 42,075.19 $35,811.79
STAG INDUSTRIAL INC US STAG 153.24 $5,154.93
STANLEY BLACK & DECKER INC US SWK 11.99 $1,026.72
SRPT 2014-STAR A FLTG RATE 6.05800 11/15/2027 US 298,701.65 $206,626.06
STEEL DYNAMICS INC US STLD 23.25 $2,932.06
STR 2019-1 A1 MTGE 3.65000 11/20/2049 US 69,761.13 $62,745.86
SUN COMMUNITIES US SUI 182.48 $26,120.86
SCML 2019-SBC8 2.86000 04/25/2041 US 57,790.51 $52,786.44
SYNCHRONOSS TECH US 1,896.81 $34,996.13
SYNERGY ONE LENDING 5.50000 10/14/2026 US 56,998.06 $49,748.64
TJX COMPANIES INC US TJX 64.16 $4,914.78
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 2,482.7 $216,168.64
TARGET CORP US TGT 21.83 $3,678.84
TENCENT HOLDINGS 3.97500 04/11/2029 KY 628,894.14 $576,677.49
TERRENO REALTY CORP US TRNO 296.53 $18,447.18
TEXAS INSTRUMENTS INC US TXN 38.13 $6,537.72
THERMO FISHER SCIENTIFIC INC US TMO 223.4 $121,031.39
3M CO US MMM 41.13 $4,431.37
TPMT 2016-5 A1 2.50000 10/25/2056 US 30,134.09 $29,637.08
TPMT 2017-1 A1 2.75000 10/25/2056 US 13,068.63 $12,875.17
TPMT 2019-HY1 A1 5.61700 10/25/2048 US 34,159.81 $34,064.33
TRACTOR SUPPLY COMPANY US TSCO 8.78 $2,047.13
TRAVELLERS COS INC US TRV 22.87 $4,233.24
TYSON FOODS INC -CL A US TSN 35.35 $2,094.27
UDR INC US UDR 311.68 $13,352.47
U.S. BANCORP US USB 110.61 $5,279.28
UNILEVER PLC - ADR GB UL 6,103.29 $304,737.47
UNION PAC CORP US UNP 37.67 $7,808.09
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 44,763.57 $40,155.92
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 8,691.02 $8,272.61
UNITED PARCEL SERVICE US UPS 37.1 $6,769.89
TREASURY BOND 2.37500 02/15/2042 US 813,362.53 $624,382.83
TREASURY NOTE 2.25000 11/15/2027 US 3,617,870.19 $3,314,025.64
US TREASURY N/B 3.12500 11/15/2028 US 2,066,033.83 $1,957,728.47
UNITED STATES TREAS NTS 2.25000 11/15/2024 US 1,556,212.97 $1,488,371.81
US TREASURY N/B 2.25000 11/15/2025 US 2,437,187.43 $2,294,573.89
US TREASURY N/B 2.00000 11/15/2026 US 3,154,873.28 $2,901,004.57
US TEASURY NOTE 1.75000 11/15/2029 US 1,294,768.24 $1,126,043.75
US TREASURY N/B 1.37500 11/15/2031 US 1,140,774.98 $927,949.15
VF CORP US VFC 31.24 $775.27
VENTAS INC US VTR 220.62 $10,733.00
VERTEX PHARMACEUTICALS INC US VRTX 514.77 $149,433.41
PARAMOUNT GLOBAL CLASS B US PARA 48.79 $1,045.11
VISA INC - CLASS A SHARES US V 1,389.19 $305,539.06
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 71,133.98 $68,293.77
VISTRA OPERATIONS 4.87500 05/13/2024 US 247,411.32 $243,327.34
WAL MART STORES US WMT 113.93 $16,193.33
WALGREENS BOOTS ALLIANCE INC US WBA 61.71 $2,192.55
WASTE MANAGEMENT INC US WM 32.14 $4,812.61
WELLTOWER INC. US WELL 216.31 $16,032.94
WIN 2015-1 A1 3.50000 01/20/2045 US 14,765.14 $13,454.83
ZOETIS INC US ZTS 330.42 $55,180.07
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 367.95 $3,664.51
ADMIRAL GROUP PLC GB ADM LN 969.81 $25,663.20
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 351.56 $3,361.37
UBISOFT ENTERTAINMENT FR UBI FP 305.14 $6,690.19
DANONE FR BN FP 160.85 $9,041.67
AIR LIQUIDE FR AI FP 163.86 $26,033.64
BRENNTAG AG DE BNR GR 127.53 $9,606.19
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 140,082.24 $6,993.02
KEYWORDS STUDIOS PLC IE KWS LN 125.03 $4,362.79
MEITUAN DIANPING - CLASS B CN 3690 HK 30.53 $529.83
HELIOS TOWERS PLC GB HTWS LN 5,589.18 $7,378.18
AVANZA BANK HOLDING AB SE AZA SS 575.52 $15,221.19
AMERICAN TANKER INC 7.75000 07/02/2025 US 55,905.2 $53,919.33
SOFTWAREONE HOLDING AG CH SWON SW 856.56 $14,270.36
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 1,631.37 $8,815.08
TENCENT HOLDINGS LTD CN 700 HK 305.29 $13,410.84
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 657.38 $12,293.01
SEASPAN CORP 6.50000 02/05/2024 MH 70,679.61 $70,709.72
PETROTAL CORP 12.00000 02/16/2024 CA 33,132.55 $33,960.87
IMCD NV NL IMCD NA 30.66 $4,853.79
FINECOBANK SPA IT FBK IM 1,303.09 $22,517.96
ALLFUNDS GROUP PLC GB ALLFG NA 1,255.82 $10,938.37
AUTO TRADER GROUP PLC GB AUTO LN 3,487.49 $24,942.79
CELLNEX TELECOM SA ES CLNX SM 611.73 $22,951.19
ASSA ABLOY AB-B SE ASSAB SS 656.45 $15,973.78
CLEANAWAY WASTE MANAGEMENT AU CWY AU 9,891.92 $17,639.92
INTERMEDIATE CAPITAL GROUP GB ICP LN 917.84 $15,451.77
ADYEN NV NL ADYEN NA 6.27 $8,886.86
BANK OF N.T. BUTTERFIELD&SON BM NTB 295.29 $10,674.82
BUNGE LIMITED US BG 17.5 $1,671.03
EATON CORP PLC US ETN 33.44 $5,850.24
JOHNSON CONTROLS INTERNATIONAL US JCI 65.04 $4,079.06
LINDE PLC IE LIN 26.19 $9,125.08
MEDTRONIC INC IE MDT 1,794.96 $148,622.97
RENAISSANCERE HOLDINGS LTD BM RNR 45.65 $9,810.47
ROYALTY PHARMA PLC- CL A US RPRX 47.02 $1,685.57
STONECO LTD-A BR STNE 444.51 $3,782.75
TRANE TECHNOLOGIES IE TT 16.06 $2,969.69
ALCON INC CH ALC 2,008.65 $137,069.98
CHUBB LTD CH CB 33.61 $7,091.81
GARMIN LTD CH GRMN 20.99 $2,059.52
TE CONNECTIVITY LIMITED CH TEL 20.93 $2,665.20
LYONDELLBASELL INDU-CL A US LYB 23.36 $2,242.26
PLAYA HOTELS AND RESORTS US PLYA 695.93 $6,207.71
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 54,237.33 $48,715.74

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 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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