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

$12.11

Daily $ Change

-$0.04

Daily % Change

-0.33%

as of 09/27/2022

CUSIP

56382R803

Inception Date

04/17/2015

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

Important Documents

Annual Report
Applications & Forms

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

Performance

As of 08/31/2022

YTD

-10.39%

1 Year

-10.13%

3 Year

2.52%

5 Year

3.56%

10 Year

4.08%

Inception
(01/01/2000)

5.52%

Performance through the inception date of the Retirement Target CIT Class U1 units (04/17/2015) is based on the historical performance of the CIT’s oldest unit class. Performance through the inception date of the oldest unit class (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 U1 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 0.52%
Net 0.49%*

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

Top Ten Investments

As of 08/31/2022

TREASURY NOTES 23.93%
TREASURY BONDS 7.83%
GOVERNMENT AGENCY 7.79%
TENCENT HOLDINGS 3.97500 04/11/2029 1.45%
AMAZON.COM INC 1.32%
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 1.03%
MICROSOFT CORP 1.01%
JOHNSON & JOHNSON 0.97%
CENOVUS ENERGY INC 6.75000 11/15/2039 0.97%
JPMORGAN CHASE & CO 4.49300 03/24/2031 0.90%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 08/31/2022

Bonds 69.64%
Stocks 27.23%
Cash 3.13%

Detailed Asset Class Allocation

As of 08/31/2022

International Equities 7.12%
Small Capitalization 0.57%
Mid Capitalization 1.86%
Large Capitalization 17.68%
Long Term Fixed Income 17.63%
Intermediate Term Fixed Income 40.75%
Short Term Fixed Income 11.26%
Cash 3.13%

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

August Fund Holdings

As of 08/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 64.99 $6,671.27
ACTIVISION INC US ATVI 1,742.59 $136,776.17
ADIDAS AG-SPONSORED ADR DE ADDYY 1,177.17 $87,322.31
ADMIRAL GROUP PLC GB AMIGY 4,754.67 $119,722.61
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 125,342.59 $107,427.62
ADYEN NV UNSPON ADR NL ADYEY 8,170.96 $126,731.64
AGREE REALTY CORP US ADC 118.82 $8,949.59
AIR LIQUIDE-ADR FR AIQUY 6,818.82 $170,947.80
AIR LEASE CORP 3.62500 04/01/2027 US 181,123.24 $168,036.96
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 15,904.3 $16,012.56
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 368,116.87 $309,577.27
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 97,459.23 $81,215.71
ALLSTATE CORPORATION US ALL 26.98 $3,250.52
ALPHABET INC-CL A US GOOGL 2,089.87 $226,165.94
AMAZON.COM INC US AMZN 4,620.32 $585,718.04
AMAZON.COM INC 3.30000 04/13/2027 US 345,797.04 $338,337.38
DIAGEO PLC GB DGE LN 580.84 $25,235.53
BAE SYSTEMS PLC GB BA/ LN 2,272.73 $20,468.46
AMERICAN HOMES 4 RENT- A US AMH 586.69 $20,862.57
AMERICAN TOWER REIT INC US AMT 65.35 $16,602.24
ANALOG DEVICES INC US ADI 37.57 $5,693.15
APPLE HOSPITALITY REIT INC US APLE 1,304 $20,746.63
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 20,705.44 $20,910.86
ARCHER-DANIELS-MIDLAND CO US ADM 42.72 $3,754.58
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 165,273.59 $151,452.01
AUTOMATIC DATA PROCESSING US ADP 25.87 $6,323.22
AVALONBAY COMMUNITIES INC US AVB 100.57 $20,205.41
BAE SYSTEMS PLC -SPON ADR GB BAESY 3,444.78 $124,356.39
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 164,558.88 $161,996.48
BANK OF AMERICA CORP 2.68700 04/22/2032 US 288,064.23 $240,422.27
BARRICK GOLD CORP CA GOLD 4,098.78 $60,866.94
BAXTER INTERNATIONAL INC US BAX 32.81 $1,885.10
BEST BUY INC US BBY 26.11 $1,845.81
BIOMARIN PHARMACEUTICAL INC US BMRN 1,894.02 $168,946.50
BLACKROCK INC US BLK 184.82 $123,162.70
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 155,976.81 $138,008.32
DECHRA PHARMACEUTICALS PLC GB DPH LN 440.48 $17,814.48
BRANDYWINE REALTY TRUST US BDN 729.18 $5,855.32
BRISTOL MYERS SQUIBB CO US BMY 121.3 $8,177.12
BROADRIDGE FINANCIAL SOLUTIONS US BR 12.68 $2,171.06
JONAH ENERGY PARENT LLC US 824.06 $46,897.03
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 147,776.73 $134,290.65
SORT 2020-1 A2 1.99000 07/15/2060 US 120,259.73 $103,097.44
C.H. ROBINSON WORLDWIDE INC US CHRW 16.94 $1,934.09
CIM 2019-INV1 A1 4.00000 02/25/2049 US 5,610.64 $5,567.86
COMM 2014-UBS4 A5 3.69400 08/10/2047 US 215,925.11 $212,516.30
COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 119,958.4 $116,540.18
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 43,045.13 $39,984.66
COTERRA ENERGY INC US CTRA 62.6 $1,935.01
CAMDEN PROPERTY TRUST US CPT 112.22 $14,421.48
CAMECO CORP CA CCJ 301.18 $8,779.40
CAMPBELL SOUP CO US CPB 36.83 $1,855.35
CANADIAN NATIONAL RAILWAY CO CA CNI 1,736.28 $206,460.96
CARETRUST REIT INC US CTRE 792.33 $17,066.71
CATERPILLAR INC US CAT 33.32 $6,155.05
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 704.9 $13,696.18
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 396,327.29 $432,871.78
CHARTER COMMUNICATIONS INC-A US CHTR 411.67 $169,868.02
CHEVRON CORP US CVX 61.28 $9,686.22
CINCINNATI FINANCIAL CORP US CINF 17.27 $1,674.26
CISCO SYSTEMS INC US CSCO 208.71 $9,333.47
CITIGROUP INC US C 129.68 $6,329.73
CITIGROUP INC 1.46200 06/09/2027 US 275,341.07 $243,033.72
CLARK CNTY NV 1.51000 11/01/2028 US 333,686.29 $285,695.15
COCA COLA CO/THE US KO 3,749.5 $231,381.89
COLGATE-PALMOLIVE CO US CL 61.91 $4,841.67
COMCAST CORP-CL A US CMCSA 223.8 $8,099.44
CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 42,658.53 $39,856.72
COMMUNITY HEALTHCARE TRUST I US CHCT 249.46 $9,202.64
CONAGRA BRAND INC. US CAG 56.4 $1,938.97
CONOCOPHILLIPS US COP 56.49 $6,183.25
CONTROLADORA VUELA CIA DE AV MX VLRS 710.18 $6,306.41
COPART INC US CPRT 1,043.83 $124,894.31
COUSINS PROPERTIES INC US CUZ 541.66 $14,543.61
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 116,959.44 $108,097.69
CAALT 2021-2A A 0.96000 02/15/2030 US 211,328.72 $202,841.74
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 216,766.03 $191,900.04
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 25,375.5 $22,603.48
CUMMINS INC US CMI 13.93 $3,000.47
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 171,883.92 $153,067.95
KIMBERLY CLARK DE MEXICO S.A.B. MX 15,899.54 $21,584.51
DEVON ENERGY CORPORATION US DVN 42.22 $2,981.22
DIAMONDBACK ENERGY INC US FANG 13.28 $1,770.42
DIGITAL REALTY TRUST INC US DLR 203.14 $25,114.50
DOLLAR TREE STORES INC US DLTR 903.94 $122,647.01
DOW INC US DOW 45.37 $2,313.92
DREYFUS GVT CSH MANAGEMENT US 1,436,613.72 $1,436,613.72
DUKE RLTY INVTS INC US DRE 234.86 $13,821.35
EOG RESOURCES INC US EOG 30.97 $3,756.76
EASTMAN CHEM CO US EMN 15.78 $1,435.94
EBAY INC US EBAY 40.49 $1,786.70
ELECTRONIC ARTS US EA 1,062.93 $134,854.52
EMERSON ELEC CO US EMR 46.11 $3,769.43
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 371,728.24 $375,744.17
EQUINIX INC US EQIX 300.35 $197,443.92
EQUITY LIFESTYLE PROPERTIES US ELS 415.25 $29,108.92
ESSEX PROPERTY TRUST INC US ESS 61.75 $16,367.53
EXPEDIA GROUP INC 3.25000 02/15/2030 US 186,164.02 $161,095.25
EXTRA SPACE STORAGE INC US EXR 50.11 $9,958.47
FMC CORP US FMC 2,587.23 $279,627.74
FREMF 2015-K42 B FLT 3.97997 01/25/2048 US 47,548.96 $46,127.16
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 48,365.95 $48,543.22
FREMF 2015-K43 B FLT 3.85980 02/25/2048 US 137,952.16 $133,403.65
FREMF 2014-K41 B FLT 3.96402 11/25/2047 US 184,912.63 $179,771.14
FREMF 2013-K28 X2A 0.10000 06/25/2046 US 7,900,077.31 $1,851.86
META PLATFORMS INC US META 1,998.79 $325,663.22
FHLM POOL G03332 6.00000 10/01/2037 US 1,359.11 $1,465.35
FHLM POOL G05900 6.00000 03/01/2040 US 2,724.63 $2,950.58
FHLM POOL G05906 6.00000 04/01/2040 US 3,724.45 $4,000.64
FHLM POOL G06789 6.00000 05/01/2040 US 16,021.79 $17,289.48
FHLM POOL G06995 6.00000 05/01/2040 US 8,046.75 $8,681.30
FHLM POOL G13331 5.50000 10/01/2023 US 657.97 $661.76
FHLM POOL G12988 6.00000 01/01/2023 US 3.21 $3.20
FHLM POOL G13078 6.00000 03/01/2023 US 14.33 $14.34
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 61,285.29 $61,919.46
FHLM POOL FG G08734 4.00000 11/01/2046 US 3,948.42 $3,920.09
FHLM POOL C91746 4.50000 12/01/2033 US 4,666.72 $4,731.92
FHLM POOL Q93451 4.50000 08/01/2040 US 47,753.78 $48,893.76
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 321,270.1 $300,331.21
FHLM POOL SD8230 4.50000 06/01/2052 US 300,029.99 $299,001.88
FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 US 28,053.02 $27,842.88
FHLM POOL G60034 4.50000 02/01/2045 US 63,496.86 $64,923.03
FNR 2018-31 KP 3.50000 07/25/2047 US 5,846.08 $5,779.64
FHMS K030 X1 FLT 0.25907 04/25/2023 US 9,288,063.89 $5,890.58
FHMS K032 X1 FLT 0.17942 05/25/2023 US 5,773,880.21 $2,948.78
FHR 5189 CP 2.50000 06/25/2049 US 98,556.24 $89,725.89
FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 US 25,932.62 $26,525.21
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 4,565.07 $4,669.39
FEDERAL NATL MTG ASSN AI5316 4.50000 07/01/2041 US 7,497.34 $7,668.66
FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 US 9,189.66 $9,399.65
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 35,331.49 $36,138.85
FEDERAL NATL MTG ASSN AL8674 FLT 5.65900 01/01/2049 US 139,353.32 $148,477.43
FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 73,385.13 $74,959.54
FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 US 1,201.9 $1,307.47
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 8,902.63 $8,608.67
FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 31,659.42 $31,403.16
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 29,348.4 $29,110.85
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 188,896.02 $181,935.00
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 308,270.57 $298,065.64
FN DS2696 3.00000 12/01/2051 US 154,746.33 $144,549.24
FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 1.81 $1.80
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 8,279.48 $8,921.15
FEDERAL NATL MTG ASSN 899735 6.50000 09/01/2037 US 855.04 $914.40
FEDERAL NATL MTG ASSN 941175 6.00000 11/01/2037 US 408.09 $428.49
FEDERAL NATL MTG ASSN 949709 6.50000 09/01/2037 US 3,420.83 $3,741.09
FEDERAL NATL MTG ASSN 954580 6.00000 02/01/2038 US 2,110.38 $2,252.68
FEDERAL NATL MTG ASSN 962276 6.00000 03/01/2038 US 571.46 $605.59
FEDERAL NATL MTG ASSN 962981 6.00000 05/01/2038 US 1,295.15 $1,381.77
FEDERAL NATL MTG ASSN 973297 4.50000 03/01/2023 US 92.39 $93.32
FEDERAL NATL MTG ASSN 976388 4.50000 04/01/2023 US 745.88 $753.39
FEDERAL NATL MTG ASSN 981635 5.00000 06/01/2038 US 832.02 $868.47
FEDERAL NATL MTG ASSN 981650 5.00000 06/01/2038 US 432.26 $451.19
FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 1,561.14 $1,596.96
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 36,325.79 $37,158.79
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 32,943.08 $33,698.51
FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 30,789.16 $31,077.55
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 24,353.84 $23,697.93
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 364,647.91 $332,407.87
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 330,616.22 $315,956.60
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 326,232.03 $319,146.24
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 327,833.94 $323,820.44
FN MA4733 4.50000 09/01/2052 US 144,849.76 $144,241.71
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 4,065.81 $4,361.18
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 5,432.41 $5,837.62
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 112.02 $113.77
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 11,494.61 $11,757.81
FEDEX CORPORATION US FDX 537.94 $113,402.35
FIFTH THIRD BANCORP US FITB 72.38 $2,471.84
FLX 2021-1A A2 3.25000 11/27/2051 US 280,152.03 $255,976.00
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 198,529.83 $189,065.28
FORD MOTOR CREDIT 3.08700 01/09/2023 US 12,295.74 $12,199.42
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 261,368.52 $237,029.35
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 130,503.6 $118,004.58
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 62,641.28 $56,750.44
GSMBS 2021-INV1 A9 3.03319 12/25/2051 US 107,310.83 $100,707.64
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 75,620.15 $68,179.54
GNMA POOL 660997 5.50000 05/15/2037 US 5,088.07 $5,336.13
GENERAL DYNAMICS CORP US GD 20.66 $4,730.47
GENERAL MLS INC US GIS 51.75 $3,974.72
GENUINE PARTS CO US GPC 16.08 $2,508.56
GETTY REALTY CORP US GTY 322.85 $9,711.37
GILEAD SCIENCES INC US GILD 93.65 $5,943.65
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 69,500.98 $62,328.45
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 42,487.87 $40,321.06
GRAPHIC PACKAGING HOLDING CO US GPK 5,678.58 $126,461.90
GREENIDGE GEN HLD INC US 1,190.64 $16,680.92
GRUPO AEROPORTUARIO PAC-ADR MX PAC 26.47 $3,773.99
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 18.49 $3,910.38
AIRBUS SE FR AIR FP 118.32 $11,594.24
ADIDAS AG DE ADS GR 146.49 $21,721.49
HCA INC 4.12500 06/15/2029 US 248,695.16 $231,045.56
HDFC BANK LTD-ADR IN HDB 257.01 $15,690.38
L'OREAL FR OR FP 14.95 $5,134.96
HAWAII ST 2.68200 10/01/2038 US 170,556.8 $134,066.59
HEALTHCARE REALTY TRUST INC US HR 790.48 $19,224.40
HEINEKEN NV-SPN ADR NL HEINY 2,464.82 $110,719.80
HOME DEPOT INC US HD 45.53 $13,130.78
HONEYWELL INTERNATIONAL INC US HON 40.67 $7,700.30
IIP OPERATING PARTNER 5.50000 05/25/2026 US 39,790.19 $35,442.58
IDEXX LABORATORIES INC US IDXX 327.88 $113,978.91
KERRY GROUP PLC-A IE KYGA ID 97.28 $10,031.63
ILLINOIS TOOL WKS INC US ITW 23.76 $4,629.03
IMPRL 2021-NQM3 1.59500 11/25/2056 US 155,769.23 $132,945.33
INDEPENDENCE REALTY TRUST IN US IRT 351.43 $6,835.38
INTEL CORP US INTC 222.52 $7,102.94
INTERCONTINENTALEXCHANGE INC US ICE 2,515 $253,638.05
INTERNATIONAL FLVRS & FRAGRANCES US IFF 23.64 $2,611.68
INTUITIVE SURGICAL INC US ISRG 598.16 $123,065.48
INVITATION HOMES INC US INVH 742.95 $26,954.07
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 40,811.1 $38,823.60
JP MORGAN CHASE & CO US JPM 126.67 $14,405.95
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 39,406.62 $37,613.26
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 409,770.2 $398,586.89
JOHNSON & JOHNSON US JNJ 2,683.51 $432,957.64
KREF 2021-FL2 A 3.44971 02/15/2039 US 105,664.36 $102,543.13
KEYCORP US KEY 77.66 $1,373.83
KROGER CO US KR 64.46 $3,090.31
L3HARRIS TECHNOLOGIES INC US LHX 570.61 $130,208.23
BEIERSDORF AG DE BEI GR 235.04 $23,724.66
LENNAR CORP US LEN 22.51 $1,743.50
LIFE STORAGE INC US LSI 142.71 $18,160.06
LOCKHEED MARTIN CORP US LMT 16.46 $6,916.52
LULULEMON - ADR CA LULU 512.95 $153,865.01
MAGALLANES INC 4.05400 03/15/2029 US 428,376.37 $389,898.60
MARATHON PETROLEUM CORP US MPC 32.36 $3,260.59
MARRIOTT VACATIONS WORLD US VAC 67.58 $9,625.07
MASTERCARD INC-CLASS A US MA 1,159.32 $376,048.53
MCDONALDS CORP US MCD 28.46 $7,180.70
MERCADOLIBRE INC BR MELI 26.27 $22,467.72
MERCK & CO INC US MRK 132.26 $11,289.72
MICROSOFT CORP US MSFT 1,710.79 $447,319.49
MICROCHIP TECHNOLOGY INC US MCHP 37.67 $2,457.76
MID-AMERICA APARTMENT COMM US MAA 118.53 $19,637.28
MONDELEZ INTERNATIONAL INC US MDLZ 4,669.05 $288,827.40
MOODY'S CORPORATION US MCO 761.6 $216,691.25
MOTOROLA SOLUTIONS INC US MSI 14.56 $3,543.02
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 68,839.86 $64,407.93
NAVIENT CORP 6.75000 06/25/2025 US 48,787.07 $47,099.79
NESTLE S.A. - ADR CH NSRGY 1,608.06 $188,239.31
NETAPP INC US NTAP 25.87 $1,866.10
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 52,606.37 $50,317.37
NRZT 2015-2A A1 3.75000 08/25/2055 US 58,795.3 $56,039.76
NRZT 2016-4A A1 3.75000 11/25/2056 US 90,901.47 $86,779.69
KEYENCE CORP JP 6861 JP 56.41 $21,178.87
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 90,083.05 $87,096.99
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 187,963.39 $163,106.91
NEWMONT GOLDCORP CORP US NEM 1,232.69 $50,984.14
NIKE INC CLASS B US NKE 1,111.3 $118,297.43
NORFOLK SOUTHN CORP US NSC 547.95 $133,221.90
NIKON CORP JP 7731 JP 857.96 $9,793.75
NORTHROP GRUMMAN CORP US NOC 308.21 $147,323.26
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 58,453.82 $5.85
NOVARTIS AG- REG CH NVS 3,728.23 $300,197.08
NUCOR CORP US NUE 22.75 $3,024.54
OBX 2022-INV1 A1 3.00000 12/25/2051 US 78,330.62 $69,814.60
OMNICOM GROUP US OMC 25.99 $1,738.82
SONY CORP FIRST SECTION JP 6758 JP 196.78 $15,644.84
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 171,756.39 $153,678.09
OXFIN 2020-1A A2 3.10100 02/15/2028 US 123,172.83 $121,962.03
OXFIN 2019-1A A2 4.45900 02/15/2027 US 92,561.74 $92,072.39
OXFIN 2022-1A 3.60200 02/15/2030 US 250,858.2 $235,452.32
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 13,725.09 $13,177.82
PPG INDUSTRIES INC US PPG 15.6 $1,980.84
PACKAGING CORP OF AMERICA US PKG 11.82 $1,618.35
PARKER HANNIFIN CORP US PH 8.6 $2,280.01
DEUTSCHE BOERSE AG DE DB1 GR 122.61 $20,730.62
PAYPAL HOLDINGS INC US PYPL 2,566.81 $239,842.80
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 294,939.3 $280,064.90
PELORUS FUND REIT 7.00000 09/30/2026 US 31,035.75 $28,895.77
NESTLE SA-REGISTERED CH NESN SW 316.62 $37,052.13
PEPSICO INC 3.90000 07/18/2032 US 314,710.14 $309,155.62
PFIZER INC US PFE 187.43 $8,477.66
PIONEER NATURAL RESOURCES CO US PXD 13.55 $3,430.52
POPULAR INC 6.12500 09/14/2023 PR 47,466.26 $48,074.13
PROCTER & GAMBLE CO US PG 100.68 $13,887.34
PROLOGIS US PLD 631.29 $78,602.11
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 262,121.7 $224,085.35
PFMT 2021-2 A2A 2.00000 04/25/2051 US 164,173.07 $143,458.64
PUBLIC STORAGE INC US PSA 109.89 $36,355.90
QUALCOMM INC US QCOM 65.67 $8,686.76
QUALCOMM INC 4.25000 05/20/2032 US 324,791.69 $328,650.30
QUEST DIAGNOSTICS INC US DGX 15.1 $1,891.62
RCKT 2021-6 A1 2.50000 12/25/2051 US 230,710.43 $196,769.29
RADIUS GLOBAL INFRASTRUCTURE US RADI 2,262.23 $31,150.85
REGIONS FINANCIAL CORP. US RF 103.13 $2,234.73
REPUBLIC SERVICES INC US RSG 27.16 $3,875.59
RESTAURANT BRANDS INTERN CA QSR 200.99 $11,858.61
REXFORD INDUSTRIAL REALITY IN US REXR 389.81 $24,250.07
GETINGE AB-B SHS SE GETIB SS 866.82 $16,054.86
ROSS STORES INC US ROST 23.64 $2,039.37
HEINEKEN NV NL HEIA NA 225.81 $20,295.54
RYANAIR HOLDINGS - ADR IE RYAAY 1,585.27 $115,265.01
SBA TOWER TRUST 1.88400 01/15/2026 US 103,764.01 $93,504.15
S&P GLOBAL INC US SPGI 254.02 $89,461.19
SBA COMMUNICATIONS CORP US SBAC 1,190.98 $387,365.79
NAVIENT CORP 5.50000 01/25/2023 US 25,503.78 $25,384.50
SLMA 2006-10 A6 FLT 2.93300 03/25/2044 US 26,406 $25,153.52
SMB 2015 B A3 4.14100 05/17/2032 US 138,407.14 $139,091.09
SMB 2020-BA A1A 1.29000 07/15/2053 US 163,833.04 $148,508.69
SOFI 2017-D A2FX 2.65000 09/25/2040 US 46,816.78 $45,967.10
SALESFORCE INC US CRM 1,544.95 $241,197.54
SEA LTD - ADR SG SE 252.66 $15,665.06
SEAGEN INC US SGEN 719.54 $111,018.18
SEMT 2013-6 A2 3.00000 05/25/2043 US 49,803.28 $46,558.13
SEMT 2013-7 A2 3.00000 06/25/2043 US 27,868.88 $24,989.17
SEMT 2013-8 A1 3.00000 06/25/2043 US 32,196.36 $30,171.87
SEMT 2013-2 1.87400 02/25/2043 US 24,231.82 $21,446.13
SERVICENOW INC US NOW 507.91 $220,747.17
SHOPIFY INC CA SHOP 195.57 $6,189.79
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 548,040.53 $458,863.18
SKYWORKS SOLUTIONS INC US SWKS 13.87 $1,367.06
SMB 2019-B A2A 2.84000 06/15/2037 US 126,208.21 $119,216.62
JM SMUCKER CO/THE-NEW COM WI US SJM 13.43 $1,879.73
SNOWFLAKE INC-CLASS A US SNOW 655.62 $118,633.53
SOFI 2017-F A2FX 2.84000 01/25/2041 US 3,294.31 $3,229.09
SOFI 2016-C A2B 2.36000 12/27/2032 US 1,069.96 $1,067.89
SOFI 2016-D A2B 2.34000 04/25/2033 US 3,416.97 $3,380.67
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 35,161.82 $34,462.88
SONY CORP SPONSORED ADR JP SONY 1,476.64 $117,171.16
SOUTH CAROLINA ST PUBLIC SVC 1.85200 12/01/2026 US 76,606.66 $70,293.41
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 46,183.98 $41,475.55
SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 49,782.73 $51,102.79
SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 250,889.75 $255,535.56
ONEMAIN FINANCE CORP 5.62500 03/15/2023 US 23,883.08 $23,763.83
STANLEY BLACK & DECKER INC US SWK 12.74 $1,122.71
SRPT 2014-STAR A FLTG RATE 3.86200 11/15/2027 US 324,512.3 $227,382.58
STEEL DYNAMICS INC US STLD 23.05 $1,860.68
STR 2019-1 A1 MTGE 2.82000 11/20/2049 US 75,688.78 $68,751.18
SUN COMMUNITIES US SUI 195.97 $30,122.04
SCML 2019-SBC8 2.86000 04/25/2041 US 69,767.71 $64,507.02
SYNCHRONOSS TECH US 2,482.83 $53,927.04
SYNERGY ONE LENDING 5.50000 10/14/2026 US 62,052.57 $53,580.60
TJX COMPANIES INC US TJX 61.93 $3,861.35
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 269.69 $22,478.97
TARGET CORP US TGT 22.15 $3,551.75
TENCENT HOLDINGS 3.97500 04/11/2029 KY 684,396.57 $645,038.45
TERRENO REALTY CORP US TRNO 247.95 $15,122.35
TEXAS INSTRUMENTS INC US TXN 38.38 $6,339.94
THERMO FISHER SCIENTIFIC INC US TMO 244.05 $133,085.01
3M CO US MMM 39.3 $4,886.83
TPMT 2016-5 A1 2.50000 10/25/2056 US 46,057.97 $45,596.78
TPMT 2017-1 A1 2.75000 10/25/2056 US 21,864.77 $21,677.10
TPMT 2019-HY1 A1 3.44371 10/25/2048 US 43,148.56 $42,663.89
TRACTOR SUPPLY COMPANY US TSCO 9.53 $1,764.06
TRAVELLERS COS INC US TRV 20.48 $3,310.95
TAH 2017-SFR2 A 2.92800 01/17/2036 US 51,438.47 $50,597.16
TCF 2021-1A 1.86000 03/20/2046 US 242,566.92 $209,733.19
TYSON FOODS INC -CL A US TSN 33.23 $2,504.66
UDR INC US UDR 604.64 $27,130.16
U.S. BANCORP US USB 105.79 $4,825.03
UNILEVER PLC - ADR GB UL 6,684.46 $303,407.46
UNION PAC CORP US UNP 36.08 $8,101.02
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 52,859.42 $44,530.09
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 10,168.29 $9,479.11
UNITED MEXICAN STATES 4.12500 01/21/2026 MX 11,995.84 $12,006.43
UNITED PARCEL SERVICE US UPS 689.47 $134,108.07
TREASURY BOND 2.37500 02/15/2042 US 2,341,451.15 $1,949,258.09
TREASURY BOND 2.25000 11/15/2027 US 1,611,341.16 $1,529,263.47
UNITED STATES TREAS NTS 2.25000 11/15/2024 US 1,751,386.78 $1,707,191.64
US TREASURY N/B 2.25000 11/15/2025 US 2,978,337.67 $2,868,278.80
US TREASURY N/B 2.00000 11/15/2026 US 3,235,690.63 $3,059,244.37
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 2,446,769.2 $2,419,434.21
US TREASURY N/B 1.37500 11/15/2031 US 673,836.44 $578,972.91
VF CORP US VFC 31.32 $1,298.18
VENTAS INC US VTR 228.41 $10,931.89
VERTEX PHARMACEUTICALS INC US VRTX 562.39 $158,457.87
PARAMOUNT GLOBAL CLASS B US PARA 52.46 $1,227.10
VISA INC - CLASS A SHARES US V 1,517.71 $301,584.08
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 77,417.34 $74,656.78
VISTRA OPERATIONS 4.87500 05/13/2024 US 269,279.38 $266,201.75
WAL MART STORES US WMT 117.22 $15,538.10
WALGREENS BOOTS ALLIANCE INC US WBA 58.25 $2,042.10
WASTE MANAGEMENT INC US WM 30.34 $5,127.58
WELLTOWER INC. US WELL 264.14 $20,246.12
WIN 2015-1 A1 3.50000 01/20/2045 US 17,740.77 $17,085.93
ZOETIS INC US ZTS 360.93 $56,496.06
ADMIRAL GROUP PLC GB ADM LN 1,148.04 $28,240.34
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 556.78 $3,643.90
UBISOFT ENTERTAINMENT FR UBI FP 363.19 $16,748.38
DANONE FR BN FP 181.57 $9,554.16
AIR LIQUIDE FR AI FP 253.99 $31,827.65
BRENNTAG AG DE BNR GR 228.43 $14,977.29
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 152,435.51 $6,986.83
KEYWORDS STUDIOS PLC IE KWS LN 176.21 $5,078.44
S4 CAPITAL PLC GB SFOR LN 7,068.27 $10,863.71
HELIOS TOWERS PLC GB HTWS LN 5,683.1 $8,144.28
AVANZA BANK HOLDING AB SE AZA SS 803.09 $12,872.79
AMERICAN TANKER INC 7.75000 07/02/2025 US 60,852.99 $58,831.31
SOFTWAREONE HOLDING AG CH SWON SW 1,064.51 $13,995.26
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 669.97 $10,618.97
SEASPAN CORP 6.50000 02/05/2024 MH 76,823.86 $76,245.17
PETROTAL CORP 12.00000 02/16/2024 CA 52,429.13 $53,477.71
FINECOBANK SPA IT FBK IM 2,461.36 $26,612.96
ALLFUNDS GROUP PLC GB ALLFG NA 1,186.6 $9,316.56
AIRSWIFT GLOBAL AS FLT 11.42271 05/12/2025 NO 76,823.86 $77,036.84
ROTORK PLC GB ROR LN 4,790.19 $13,742.13
AUTO TRADER GROUP PLC GB AUTO LN 3,810.45 $28,771.51
CELLNEX TELECOM SA ES CLNX SM 417.91 $16,274.63
ASSA ABLOY AB-B SE ASSAB SS 816.57 $16,538.87
CLEANAWAY WASTE MANAGEMENT AU CWY AU 9,883.21 $18,771.23
INTERMEDIATE CAPITAL GROUP GB ICP LN 1,012.55 $16,006.13
ADYEN NV NL ADYEN NA 16.3 $25,145.78
BANK OF N.T. BUTTERFIELD&SON BM NTB 325.41 $10,614.97
BUNGE LIMITED US BG 16.38 $1,624.34
EATON CORP PLC US ETN 32.12 $4,389.32
JOHNSON CONTROLS INTERNATIONAL US JCI 58.08 $3,144.39
MEDTRONIC INC IE MDT 1,692.45 $148,800.39
ROYALTY PHARMA PLC- CL A US RPRX 46.25 $1,933.56
STONECO LTD-A BR STNE 1,014.17 $9,614.31
TRANE TECHNOLOGIES IE TT 15.16 $2,335.01
ALCON INC CH ALC 2,194.09 $144,107.99
CHUBB LTD CH CB 28.4 $5,369.63
GARMIN LTD CH GRMN 21.11 $1,867.80
TE CONNECTIVITY LIMITED CH TEL 21.17 $2,671.55
LYONDELLBASELL INDU-CL A US LYB 21.85 $1,813.67
PLAYA HOTELS AND RESORTS US PLYA 684.72 $4,491.74
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 61,157.12 $58,811.65

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

$12.11

Daily $ Change

-$0.04

Daily % Change

-0.33%

as of 09/27/2022

CUSIP

56382R803

Inception Date

04/17/2015

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

Important Documents

Annual Report
Fact Sheet
Applications & Forms

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

Investment Objective

To provide capital 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 08/31/2022

YTD

-10.39%

1 Year

-10.13%

3 Year

2.52%

5 Year

3.56%

10 Year

4.08%

Inception
(01/01/2000)

5.52%

Performance through the inception date of the Retirement Target CIT Class U1 units (04/17/2015) is based on the historical performance of the CIT’s oldest unit class. Performance through the inception date of the oldest unit class (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 U1 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 0.52%
Net 0.49%*

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

Top Ten Investments

As of 08/31/2022

TREASURY NOTES 23.93%
TREASURY BONDS 7.83%
GOVERNMENT AGENCY 7.79%
TENCENT HOLDINGS 3.97500 04/11/2029 1.45%
AMAZON.COM INC 1.32%
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 1.03%
MICROSOFT CORP 1.01%
JOHNSON & JOHNSON 0.97%
CENOVUS ENERGY INC 6.75000 11/15/2039 0.97%
JPMORGAN CHASE & CO 4.49300 03/24/2031 0.90%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 08/31/2022

Bonds
69.64%
Stocks
27.23%
Cash
3.13%

Detailed Asset Class Allocation

As of 08/31/2022

International Equities
7.12%
Small Capitalization
0.57%
Mid Capitalization
1.86%
Large Capitalization
17.68%
Long Term Fixed Income
17.63%
Intermediate Term Fixed Income
40.75%
Short Term Fixed Income
11.26%
Cash
3.13%

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

August Fund Holdings

As of 08/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 64.99 $6,671.27
ACTIVISION INC US ATVI 1,742.59 $136,776.17
ADIDAS AG-SPONSORED ADR DE ADDYY 1,177.17 $87,322.31
ADMIRAL GROUP PLC GB AMIGY 4,754.67 $119,722.61
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 125,342.59 $107,427.62
ADYEN NV UNSPON ADR NL ADYEY 8,170.96 $126,731.64
AGREE REALTY CORP US ADC 118.82 $8,949.59
AIR LIQUIDE-ADR FR AIQUY 6,818.82 $170,947.80
AIR LEASE CORP 3.62500 04/01/2027 US 181,123.24 $168,036.96
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 15,904.3 $16,012.56
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 368,116.87 $309,577.27
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 97,459.23 $81,215.71
ALLSTATE CORPORATION US ALL 26.98 $3,250.52
ALPHABET INC-CL A US GOOGL 2,089.87 $226,165.94
AMAZON.COM INC US AMZN 4,620.32 $585,718.04
AMAZON.COM INC 3.30000 04/13/2027 US 345,797.04 $338,337.38
DIAGEO PLC GB DGE LN 580.84 $25,235.53
BAE SYSTEMS PLC GB BA/ LN 2,272.73 $20,468.46
AMERICAN HOMES 4 RENT- A US AMH 586.69 $20,862.57
AMERICAN TOWER REIT INC US AMT 65.35 $16,602.24
ANALOG DEVICES INC US ADI 37.57 $5,693.15
APPLE HOSPITALITY REIT INC US APLE 1,304 $20,746.63
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 20,705.44 $20,910.86
ARCHER-DANIELS-MIDLAND CO US ADM 42.72 $3,754.58
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 165,273.59 $151,452.01
AUTOMATIC DATA PROCESSING US ADP 25.87 $6,323.22
AVALONBAY COMMUNITIES INC US AVB 100.57 $20,205.41
BAE SYSTEMS PLC -SPON ADR GB BAESY 3,444.78 $124,356.39
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 164,558.88 $161,996.48
BANK OF AMERICA CORP 2.68700 04/22/2032 US 288,064.23 $240,422.27
BARRICK GOLD CORP CA GOLD 4,098.78 $60,866.94
BAXTER INTERNATIONAL INC US BAX 32.81 $1,885.10
BEST BUY INC US BBY 26.11 $1,845.81
BIOMARIN PHARMACEUTICAL INC US BMRN 1,894.02 $168,946.50
BLACKROCK INC US BLK 184.82 $123,162.70
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 155,976.81 $138,008.32
DECHRA PHARMACEUTICALS PLC GB DPH LN 440.48 $17,814.48
BRANDYWINE REALTY TRUST US BDN 729.18 $5,855.32
BRISTOL MYERS SQUIBB CO US BMY 121.3 $8,177.12
BROADRIDGE FINANCIAL SOLUTIONS US BR 12.68 $2,171.06
JONAH ENERGY PARENT LLC US 824.06 $46,897.03
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 147,776.73 $134,290.65
SORT 2020-1 A2 1.99000 07/15/2060 US 120,259.73 $103,097.44
C.H. ROBINSON WORLDWIDE INC US CHRW 16.94 $1,934.09
CIM 2019-INV1 A1 4.00000 02/25/2049 US 5,610.64 $5,567.86
COMM 2014-UBS4 A5 3.69400 08/10/2047 US 215,925.11 $212,516.30
COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 119,958.4 $116,540.18
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 43,045.13 $39,984.66
COTERRA ENERGY INC US CTRA 62.6 $1,935.01
CAMDEN PROPERTY TRUST US CPT 112.22 $14,421.48
CAMECO CORP CA CCJ 301.18 $8,779.40
CAMPBELL SOUP CO US CPB 36.83 $1,855.35
CANADIAN NATIONAL RAILWAY CO CA CNI 1,736.28 $206,460.96
CARETRUST REIT INC US CTRE 792.33 $17,066.71
CATERPILLAR INC US CAT 33.32 $6,155.05
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 704.9 $13,696.18
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 396,327.29 $432,871.78
CHARTER COMMUNICATIONS INC-A US CHTR 411.67 $169,868.02
CHEVRON CORP US CVX 61.28 $9,686.22
CINCINNATI FINANCIAL CORP US CINF 17.27 $1,674.26
CISCO SYSTEMS INC US CSCO 208.71 $9,333.47
CITIGROUP INC US C 129.68 $6,329.73
CITIGROUP INC 1.46200 06/09/2027 US 275,341.07 $243,033.72
CLARK CNTY NV 1.51000 11/01/2028 US 333,686.29 $285,695.15
COCA COLA CO/THE US KO 3,749.5 $231,381.89
COLGATE-PALMOLIVE CO US CL 61.91 $4,841.67
COMCAST CORP-CL A US CMCSA 223.8 $8,099.44
CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 42,658.53 $39,856.72
COMMUNITY HEALTHCARE TRUST I US CHCT 249.46 $9,202.64
CONAGRA BRAND INC. US CAG 56.4 $1,938.97
CONOCOPHILLIPS US COP 56.49 $6,183.25
CONTROLADORA VUELA CIA DE AV MX VLRS 710.18 $6,306.41
COPART INC US CPRT 1,043.83 $124,894.31
COUSINS PROPERTIES INC US CUZ 541.66 $14,543.61
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 116,959.44 $108,097.69
CAALT 2021-2A A 0.96000 02/15/2030 US 211,328.72 $202,841.74
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 216,766.03 $191,900.04
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 25,375.5 $22,603.48
CUMMINS INC US CMI 13.93 $3,000.47
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 171,883.92 $153,067.95
KIMBERLY CLARK DE MEXICO S.A.B. MX 15,899.54 $21,584.51
DEVON ENERGY CORPORATION US DVN 42.22 $2,981.22
DIAMONDBACK ENERGY INC US FANG 13.28 $1,770.42
DIGITAL REALTY TRUST INC US DLR 203.14 $25,114.50
DOLLAR TREE STORES INC US DLTR 903.94 $122,647.01
DOW INC US DOW 45.37 $2,313.92
DREYFUS GVT CSH MANAGEMENT US 1,436,613.72 $1,436,613.72
DUKE RLTY INVTS INC US DRE 234.86 $13,821.35
EOG RESOURCES INC US EOG 30.97 $3,756.76
EASTMAN CHEM CO US EMN 15.78 $1,435.94
EBAY INC US EBAY 40.49 $1,786.70
ELECTRONIC ARTS US EA 1,062.93 $134,854.52
EMERSON ELEC CO US EMR 46.11 $3,769.43
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 371,728.24 $375,744.17
EQUINIX INC US EQIX 300.35 $197,443.92
EQUITY LIFESTYLE PROPERTIES US ELS 415.25 $29,108.92
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EXPEDIA GROUP INC 3.25000 02/15/2030 US 186,164.02 $161,095.25
EXTRA SPACE STORAGE INC US EXR 50.11 $9,958.47
FMC CORP US FMC 2,587.23 $279,627.74
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META PLATFORMS INC US META 1,998.79 $325,663.22
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FN DS2696 3.00000 12/01/2051 US 154,746.33 $144,549.24
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FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 32,943.08 $33,698.51
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FN MA4733 4.50000 09/01/2052 US 144,849.76 $144,241.71
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FEDEX CORPORATION US FDX 537.94 $113,402.35
FIFTH THIRD BANCORP US FITB 72.38 $2,471.84
FLX 2021-1A A2 3.25000 11/27/2051 US 280,152.03 $255,976.00
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 198,529.83 $189,065.28
FORD MOTOR CREDIT 3.08700 01/09/2023 US 12,295.74 $12,199.42
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 261,368.52 $237,029.35
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 130,503.6 $118,004.58
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 62,641.28 $56,750.44
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GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 75,620.15 $68,179.54
GNMA POOL 660997 5.50000 05/15/2037 US 5,088.07 $5,336.13
GENERAL DYNAMICS CORP US GD 20.66 $4,730.47
GENERAL MLS INC US GIS 51.75 $3,974.72
GENUINE PARTS CO US GPC 16.08 $2,508.56
GETTY REALTY CORP US GTY 322.85 $9,711.37
GILEAD SCIENCES INC US GILD 93.65 $5,943.65
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 69,500.98 $62,328.45
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 42,487.87 $40,321.06
GRAPHIC PACKAGING HOLDING CO US GPK 5,678.58 $126,461.90
GREENIDGE GEN HLD INC US 1,190.64 $16,680.92
GRUPO AEROPORTUARIO PAC-ADR MX PAC 26.47 $3,773.99
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 18.49 $3,910.38
AIRBUS SE FR AIR FP 118.32 $11,594.24
ADIDAS AG DE ADS GR 146.49 $21,721.49
HCA INC 4.12500 06/15/2029 US 248,695.16 $231,045.56
HDFC BANK LTD-ADR IN HDB 257.01 $15,690.38
L'OREAL FR OR FP 14.95 $5,134.96
HAWAII ST 2.68200 10/01/2038 US 170,556.8 $134,066.59
HEALTHCARE REALTY TRUST INC US HR 790.48 $19,224.40
HEINEKEN NV-SPN ADR NL HEINY 2,464.82 $110,719.80
HOME DEPOT INC US HD 45.53 $13,130.78
HONEYWELL INTERNATIONAL INC US HON 40.67 $7,700.30
IIP OPERATING PARTNER 5.50000 05/25/2026 US 39,790.19 $35,442.58
IDEXX LABORATORIES INC US IDXX 327.88 $113,978.91
KERRY GROUP PLC-A IE KYGA ID 97.28 $10,031.63
ILLINOIS TOOL WKS INC US ITW 23.76 $4,629.03
IMPRL 2021-NQM3 1.59500 11/25/2056 US 155,769.23 $132,945.33
INDEPENDENCE REALTY TRUST IN US IRT 351.43 $6,835.38
INTEL CORP US INTC 222.52 $7,102.94
INTERCONTINENTALEXCHANGE INC US ICE 2,515 $253,638.05
INTERNATIONAL FLVRS & FRAGRANCES US IFF 23.64 $2,611.68
INTUITIVE SURGICAL INC US ISRG 598.16 $123,065.48
INVITATION HOMES INC US INVH 742.95 $26,954.07
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 40,811.1 $38,823.60
JP MORGAN CHASE & CO US JPM 126.67 $14,405.95
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 39,406.62 $37,613.26
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 409,770.2 $398,586.89
JOHNSON & JOHNSON US JNJ 2,683.51 $432,957.64
KREF 2021-FL2 A 3.44971 02/15/2039 US 105,664.36 $102,543.13
KEYCORP US KEY 77.66 $1,373.83
KROGER CO US KR 64.46 $3,090.31
L3HARRIS TECHNOLOGIES INC US LHX 570.61 $130,208.23
BEIERSDORF AG DE BEI GR 235.04 $23,724.66
LENNAR CORP US LEN 22.51 $1,743.50
LIFE STORAGE INC US LSI 142.71 $18,160.06
LOCKHEED MARTIN CORP US LMT 16.46 $6,916.52
LULULEMON - ADR CA LULU 512.95 $153,865.01
MAGALLANES INC 4.05400 03/15/2029 US 428,376.37 $389,898.60
MARATHON PETROLEUM CORP US MPC 32.36 $3,260.59
MARRIOTT VACATIONS WORLD US VAC 67.58 $9,625.07
MASTERCARD INC-CLASS A US MA 1,159.32 $376,048.53
MCDONALDS CORP US MCD 28.46 $7,180.70
MERCADOLIBRE INC BR MELI 26.27 $22,467.72
MERCK & CO INC US MRK 132.26 $11,289.72
MICROSOFT CORP US MSFT 1,710.79 $447,319.49
MICROCHIP TECHNOLOGY INC US MCHP 37.67 $2,457.76
MID-AMERICA APARTMENT COMM US MAA 118.53 $19,637.28
MONDELEZ INTERNATIONAL INC US MDLZ 4,669.05 $288,827.40
MOODY'S CORPORATION US MCO 761.6 $216,691.25
MOTOROLA SOLUTIONS INC US MSI 14.56 $3,543.02
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 68,839.86 $64,407.93
NAVIENT CORP 6.75000 06/25/2025 US 48,787.07 $47,099.79
NESTLE S.A. - ADR CH NSRGY 1,608.06 $188,239.31
NETAPP INC US NTAP 25.87 $1,866.10
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 52,606.37 $50,317.37
NRZT 2015-2A A1 3.75000 08/25/2055 US 58,795.3 $56,039.76
NRZT 2016-4A A1 3.75000 11/25/2056 US 90,901.47 $86,779.69
KEYENCE CORP JP 6861 JP 56.41 $21,178.87
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 90,083.05 $87,096.99
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 187,963.39 $163,106.91
NEWMONT GOLDCORP CORP US NEM 1,232.69 $50,984.14
NIKE INC CLASS B US NKE 1,111.3 $118,297.43
NORFOLK SOUTHN CORP US NSC 547.95 $133,221.90
NIKON CORP JP 7731 JP 857.96 $9,793.75
NORTHROP GRUMMAN CORP US NOC 308.21 $147,323.26
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 58,453.82 $5.85
NOVARTIS AG- REG CH NVS 3,728.23 $300,197.08
NUCOR CORP US NUE 22.75 $3,024.54
OBX 2022-INV1 A1 3.00000 12/25/2051 US 78,330.62 $69,814.60
OMNICOM GROUP US OMC 25.99 $1,738.82
SONY CORP FIRST SECTION JP 6758 JP 196.78 $15,644.84
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 171,756.39 $153,678.09
OXFIN 2020-1A A2 3.10100 02/15/2028 US 123,172.83 $121,962.03
OXFIN 2019-1A A2 4.45900 02/15/2027 US 92,561.74 $92,072.39
OXFIN 2022-1A 3.60200 02/15/2030 US 250,858.2 $235,452.32
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 13,725.09 $13,177.82
PPG INDUSTRIES INC US PPG 15.6 $1,980.84
PACKAGING CORP OF AMERICA US PKG 11.82 $1,618.35
PARKER HANNIFIN CORP US PH 8.6 $2,280.01
DEUTSCHE BOERSE AG DE DB1 GR 122.61 $20,730.62
PAYPAL HOLDINGS INC US PYPL 2,566.81 $239,842.80
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 294,939.3 $280,064.90
PELORUS FUND REIT 7.00000 09/30/2026 US 31,035.75 $28,895.77
NESTLE SA-REGISTERED CH NESN SW 316.62 $37,052.13
PEPSICO INC 3.90000 07/18/2032 US 314,710.14 $309,155.62
PFIZER INC US PFE 187.43 $8,477.66
PIONEER NATURAL RESOURCES CO US PXD 13.55 $3,430.52
POPULAR INC 6.12500 09/14/2023 PR 47,466.26 $48,074.13
PROCTER & GAMBLE CO US PG 100.68 $13,887.34
PROLOGIS US PLD 631.29 $78,602.11
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 262,121.7 $224,085.35
PFMT 2021-2 A2A 2.00000 04/25/2051 US 164,173.07 $143,458.64
PUBLIC STORAGE INC US PSA 109.89 $36,355.90
QUALCOMM INC US QCOM 65.67 $8,686.76
QUALCOMM INC 4.25000 05/20/2032 US 324,791.69 $328,650.30
QUEST DIAGNOSTICS INC US DGX 15.1 $1,891.62
RCKT 2021-6 A1 2.50000 12/25/2051 US 230,710.43 $196,769.29
RADIUS GLOBAL INFRASTRUCTURE US RADI 2,262.23 $31,150.85
REGIONS FINANCIAL CORP. US RF 103.13 $2,234.73
REPUBLIC SERVICES INC US RSG 27.16 $3,875.59
RESTAURANT BRANDS INTERN CA QSR 200.99 $11,858.61
REXFORD INDUSTRIAL REALITY IN US REXR 389.81 $24,250.07
GETINGE AB-B SHS SE GETIB SS 866.82 $16,054.86
ROSS STORES INC US ROST 23.64 $2,039.37
HEINEKEN NV NL HEIA NA 225.81 $20,295.54
RYANAIR HOLDINGS - ADR IE RYAAY 1,585.27 $115,265.01
SBA TOWER TRUST 1.88400 01/15/2026 US 103,764.01 $93,504.15
S&P GLOBAL INC US SPGI 254.02 $89,461.19
SBA COMMUNICATIONS CORP US SBAC 1,190.98 $387,365.79
NAVIENT CORP 5.50000 01/25/2023 US 25,503.78 $25,384.50
SLMA 2006-10 A6 FLT 2.93300 03/25/2044 US 26,406 $25,153.52
SMB 2015 B A3 4.14100 05/17/2032 US 138,407.14 $139,091.09
SMB 2020-BA A1A 1.29000 07/15/2053 US 163,833.04 $148,508.69
SOFI 2017-D A2FX 2.65000 09/25/2040 US 46,816.78 $45,967.10
SALESFORCE INC US CRM 1,544.95 $241,197.54
SEA LTD - ADR SG SE 252.66 $15,665.06
SEAGEN INC US SGEN 719.54 $111,018.18
SEMT 2013-6 A2 3.00000 05/25/2043 US 49,803.28 $46,558.13
SEMT 2013-7 A2 3.00000 06/25/2043 US 27,868.88 $24,989.17
SEMT 2013-8 A1 3.00000 06/25/2043 US 32,196.36 $30,171.87
SEMT 2013-2 1.87400 02/25/2043 US 24,231.82 $21,446.13
SERVICENOW INC US NOW 507.91 $220,747.17
SHOPIFY INC CA SHOP 195.57 $6,189.79
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 548,040.53 $458,863.18
SKYWORKS SOLUTIONS INC US SWKS 13.87 $1,367.06
SMB 2019-B A2A 2.84000 06/15/2037 US 126,208.21 $119,216.62
JM SMUCKER CO/THE-NEW COM WI US SJM 13.43 $1,879.73
SNOWFLAKE INC-CLASS A US SNOW 655.62 $118,633.53
SOFI 2017-F A2FX 2.84000 01/25/2041 US 3,294.31 $3,229.09
SOFI 2016-C A2B 2.36000 12/27/2032 US 1,069.96 $1,067.89
SOFI 2016-D A2B 2.34000 04/25/2033 US 3,416.97 $3,380.67
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 35,161.82 $34,462.88
SONY CORP SPONSORED ADR JP SONY 1,476.64 $117,171.16
SOUTH CAROLINA ST PUBLIC SVC 1.85200 12/01/2026 US 76,606.66 $70,293.41
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 46,183.98 $41,475.55
SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 49,782.73 $51,102.79
SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 250,889.75 $255,535.56
ONEMAIN FINANCE CORP 5.62500 03/15/2023 US 23,883.08 $23,763.83
STANLEY BLACK & DECKER INC US SWK 12.74 $1,122.71
SRPT 2014-STAR A FLTG RATE 3.86200 11/15/2027 US 324,512.3 $227,382.58
STEEL DYNAMICS INC US STLD 23.05 $1,860.68
STR 2019-1 A1 MTGE 2.82000 11/20/2049 US 75,688.78 $68,751.18
SUN COMMUNITIES US SUI 195.97 $30,122.04
SCML 2019-SBC8 2.86000 04/25/2041 US 69,767.71 $64,507.02
SYNCHRONOSS TECH US 2,482.83 $53,927.04
SYNERGY ONE LENDING 5.50000 10/14/2026 US 62,052.57 $53,580.60
TJX COMPANIES INC US TJX 61.93 $3,861.35
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 269.69 $22,478.97
TARGET CORP US TGT 22.15 $3,551.75
TENCENT HOLDINGS 3.97500 04/11/2029 KY 684,396.57 $645,038.45
TERRENO REALTY CORP US TRNO 247.95 $15,122.35
TEXAS INSTRUMENTS INC US TXN 38.38 $6,339.94
THERMO FISHER SCIENTIFIC INC US TMO 244.05 $133,085.01
3M CO US MMM 39.3 $4,886.83
TPMT 2016-5 A1 2.50000 10/25/2056 US 46,057.97 $45,596.78
TPMT 2017-1 A1 2.75000 10/25/2056 US 21,864.77 $21,677.10
TPMT 2019-HY1 A1 3.44371 10/25/2048 US 43,148.56 $42,663.89
TRACTOR SUPPLY COMPANY US TSCO 9.53 $1,764.06
TRAVELLERS COS INC US TRV 20.48 $3,310.95
TAH 2017-SFR2 A 2.92800 01/17/2036 US 51,438.47 $50,597.16
TCF 2021-1A 1.86000 03/20/2046 US 242,566.92 $209,733.19
TYSON FOODS INC -CL A US TSN 33.23 $2,504.66
UDR INC US UDR 604.64 $27,130.16
U.S. BANCORP US USB 105.79 $4,825.03
UNILEVER PLC - ADR GB UL 6,684.46 $303,407.46
UNION PAC CORP US UNP 36.08 $8,101.02
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 52,859.42 $44,530.09
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 10,168.29 $9,479.11
UNITED MEXICAN STATES 4.12500 01/21/2026 MX 11,995.84 $12,006.43
UNITED PARCEL SERVICE US UPS 689.47 $134,108.07
TREASURY BOND 2.37500 02/15/2042 US 2,341,451.15 $1,949,258.09
TREASURY BOND 2.25000 11/15/2027 US 1,611,341.16 $1,529,263.47
UNITED STATES TREAS NTS 2.25000 11/15/2024 US 1,751,386.78 $1,707,191.64
US TREASURY N/B 2.25000 11/15/2025 US 2,978,337.67 $2,868,278.80
US TREASURY N/B 2.00000 11/15/2026 US 3,235,690.63 $3,059,244.37
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 2,446,769.2 $2,419,434.21
US TREASURY N/B 1.37500 11/15/2031 US 673,836.44 $578,972.91
VF CORP US VFC 31.32 $1,298.18
VENTAS INC US VTR 228.41 $10,931.89
VERTEX PHARMACEUTICALS INC US VRTX 562.39 $158,457.87
PARAMOUNT GLOBAL CLASS B US PARA 52.46 $1,227.10
VISA INC - CLASS A SHARES US V 1,517.71 $301,584.08
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 77,417.34 $74,656.78
VISTRA OPERATIONS 4.87500 05/13/2024 US 269,279.38 $266,201.75
WAL MART STORES US WMT 117.22 $15,538.10
WALGREENS BOOTS ALLIANCE INC US WBA 58.25 $2,042.10
WASTE MANAGEMENT INC US WM 30.34 $5,127.58
WELLTOWER INC. US WELL 264.14 $20,246.12
WIN 2015-1 A1 3.50000 01/20/2045 US 17,740.77 $17,085.93
ZOETIS INC US ZTS 360.93 $56,496.06
ADMIRAL GROUP PLC GB ADM LN 1,148.04 $28,240.34
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 556.78 $3,643.90
UBISOFT ENTERTAINMENT FR UBI FP 363.19 $16,748.38
DANONE FR BN FP 181.57 $9,554.16
AIR LIQUIDE FR AI FP 253.99 $31,827.65
BRENNTAG AG DE BNR GR 228.43 $14,977.29
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 152,435.51 $6,986.83
KEYWORDS STUDIOS PLC IE KWS LN 176.21 $5,078.44
S4 CAPITAL PLC GB SFOR LN 7,068.27 $10,863.71
HELIOS TOWERS PLC GB HTWS LN 5,683.1 $8,144.28
AVANZA BANK HOLDING AB SE AZA SS 803.09 $12,872.79
AMERICAN TANKER INC 7.75000 07/02/2025 US 60,852.99 $58,831.31
SOFTWAREONE HOLDING AG CH SWON SW 1,064.51 $13,995.26
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 669.97 $10,618.97
SEASPAN CORP 6.50000 02/05/2024 MH 76,823.86 $76,245.17
PETROTAL CORP 12.00000 02/16/2024 CA 52,429.13 $53,477.71
FINECOBANK SPA IT FBK IM 2,461.36 $26,612.96
ALLFUNDS GROUP PLC GB ALLFG NA 1,186.6 $9,316.56
AIRSWIFT GLOBAL AS FLT 11.42271 05/12/2025 NO 76,823.86 $77,036.84
ROTORK PLC GB ROR LN 4,790.19 $13,742.13
AUTO TRADER GROUP PLC GB AUTO LN 3,810.45 $28,771.51
CELLNEX TELECOM SA ES CLNX SM 417.91 $16,274.63
ASSA ABLOY AB-B SE ASSAB SS 816.57 $16,538.87
CLEANAWAY WASTE MANAGEMENT AU CWY AU 9,883.21 $18,771.23
INTERMEDIATE CAPITAL GROUP GB ICP LN 1,012.55 $16,006.13
ADYEN NV NL ADYEN NA 16.3 $25,145.78
BANK OF N.T. BUTTERFIELD&SON BM NTB 325.41 $10,614.97
BUNGE LIMITED US BG 16.38 $1,624.34
EATON CORP PLC US ETN 32.12 $4,389.32
JOHNSON CONTROLS INTERNATIONAL US JCI 58.08 $3,144.39
MEDTRONIC INC IE MDT 1,692.45 $148,800.39
ROYALTY PHARMA PLC- CL A US RPRX 46.25 $1,933.56
STONECO LTD-A BR STNE 1,014.17 $9,614.31
TRANE TECHNOLOGIES IE TT 15.16 $2,335.01
ALCON INC CH ALC 2,194.09 $144,107.99
CHUBB LTD CH CB 28.4 $5,369.63
GARMIN LTD CH GRMN 21.11 $1,867.80
TE CONNECTIVITY LIMITED CH TEL 21.17 $2,671.55
LYONDELLBASELL INDU-CL A US LYB 21.85 $1,813.67
PLAYA HOTELS AND RESORTS US PLYA 684.72 $4,491.74
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 61,157.12 $58,811.65

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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