Investment Objective

To provide capital growth and manage risk for investors planning to retire (or meet another investment goal) in or around the year indicated in the fund’s name.

Investment Strategy

Currently: The portfolio is currently invested in a balanced mix of securities that seeks a more stable rate of long-term growth than that of the broad stock market. The portfolio is diversified among fixed income securities, primarily with intermediate to long-term maturities, and various stocks. Stock exposure can range from 27% - 67%.

Over Time: The portfolio’s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. During the target year, the portfolio’s stock exposure can range from 20% - 60%. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 15% - 45%.

May be Appropriate for Investors

  • Who plan to stop contributions and start periodic withdrawals around the year 2025
  • Who have a moderate tolerance for risk and can accept fluctuations in current account value
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time

About Target Date Funds

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

Target Series Glide Path Overview

Learn more about our Glide Range SM

Daily Price

$11.78

Daily $ Change

-$0.07

Daily % Change

-0.59%

as of 04/24/2018

Ticker

MTOAX

CUSIP

56382P419

Inception Date

06/25/2012

Investment Minimum

$1,000,000.00

Investment minimum may be waived for certain qualified retirement plans.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Fact Sheet
Applications & Forms
XBRL-3/20/18

Information on Underlying Investments

Blended Asset Series Prospectus
Blended Asset Series SAI
XBRL Blended Asset Series – 11/02/2017
Blended Asset Series Annual Report
Pro-Blend® Series Semi-Annual Report

The financial statements of the underlying investments should be read in conjunction with the Series’ financial statements. Beginning 10/16/2017, the underlying funds are the Manning & Napier Fund, Inc. Blended Asset Series. The Blended Asset Series are not currently available for direct investment. Prior to 10/16/2017, the underlying funds were the Manning & Napier Fund, Inc. Pro-Blend Series. The annual report for the Blended Asset Series as of 10/31/2017 and the semi-annual report for the Pro-Blend Series as of 04/30/2017 are provided above.

Annualized Performance

As of 03/31/2018

YTD

-0.33%

1 Year

7.03%

3 Year

3.48%

5 Year

5.34%

10 Year

---

Inception
(06/25/2012)

7.69%

Market Cycle

---

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.

Expense Ratio

Gross 1.17%
Net 0.74%*

*Includes acquired fund fees and expenses of the underlying Series. Reflects the Advisor’s contractual agreement to limit its fees and reimburse certain expenses. The contractual waiver may not be amended or terminated prior to the expiration date (02/29/2028) without the approval of the Fund's Board of Directors.

Top Ten Investments

As of 03/31/2018

TREASURY NOTES 14.38%
GOVERNMENT AGENCY 5.89%
TREASURY BONDS 5.52%
QORVO INC 1.81%
BOOKING HOLDINGS INC 1.56%
REGENERON PHARMACEUTICALS INC 1.38%
ANHEUSER-BUSCH INBEV SA/NV 1.37%
DAVITA INC. 1.33%
FACEBOOK INC -A 1.33%
MEDTRONIC INC 1.14%

Top Ten Investments list is unaudited and excludes cash

Asset Allocation

As of 03/31/2018

Bonds 55.83%
Stocks 42.83%
Cash 1.34%

Detailed Asset Class Allocation

As of 03/31/2018

International Equities 14.27%
Small Capitalization 0.78%
Mid Capitalization 5.66%
Large Capitalization 22.13%
Long Term Fixed Income 16.19%
Intermediate Term Fixed Income 28.76%
Short Term Fixed Income 10.87%
Cash 1.34%

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

March Fund Holdings

As of 03/31/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00163UAB2 AMAG PHARMACEUTICALS INC 7.87500 09/01/2023 US 13,837.53 $13,664.56
00206REM0 AT&T INC 3.90000 08/14/2027 US 215,855.17 $217,341.24
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 193,745.86 $190,314.62
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 26,965.79 $27,842.18
004239109 ACADIA REALTY TRUST US AKR 215.9 $5,311.25
0045614 ANTOFAGASTA PLC GB ANTO LN 10,053.42 $129,978.96
0053673 ASHTEAD GROUP PLC GB AHT LN 635.41 $17,325.55
00772BAF8 AERCAP IRELAND CAP LTD/A 4.50000 05/15/2021 IE 72,701.88 $74,470.94
008492100 AGREE REALTY CORP US ADC 97.08 $4,663.82
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 7,315.32 $7,607.93
009563AD9 AIRXCEL INC 8.50000 02/15/2022 US 18,582.23 $20,092.03
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 92.46 $11,546.76
01609W102 ALIBABA GROUP - ADR CN BABA 1,964.28 $360,523.07
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 353,409.44 $335,422.66
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 12,862.16 $13,055.09
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 13,308.79 $13,325.43
02079K107 ALPHABET INC-CL C US GOOG 200.77 $207,155.77
02079K305 ALPHABET INC-CL A US GOOGL 200.77 $208,229.90
023135106 AMAZON.COM INC US AMZN 79.85 $115,574.08
02319V103 AMBEV SA-ADR BR ABEV 62,090.84 $451,400.41
0237400 DIAGEO PLC GB DGE LN 13,944.42 $471,595.30
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 283.73 $10,957.47
0263494 BAE SYSTEMS PLC GB BA/ LN 809.32 $6,621.56
02665T306 AMERICAN HOMES 4 RENT- A US AMH 816.17 $16,388.72
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 229,985.02 $225,369.89
026874CY1 AMERICAN INTL GROUP 4.12500 02/15/2024 US 131,856.33 $133,800.58
03027X100 AMERICAN TOWER REIT INC US AMT 752.68 $109,394.78
03064D108 AMERICOLD REALTY TRUST US COLD 266.45 $5,083.88
034863AT7 ANGLO AMERICAN CAPITAL 4.00000 09/11/2027 GB 233,540.05 $223,965.70
03748R101 APARTMENT INVT & MGMT CO -A US AIV 358.45 $14,606.87
0405207 HALMA PLC GB HLMA LN 533.5 $8,831.09
04621WAC4 ASSURED GUARANTY US HLDG 5.00000 07/01/2024 US 220,140.99 $234,671.08
0490656 KERRY GROUP PLC-A IE KYGA LN 178.58 $18,050.82
053484101 AVALONBAY COMMUNITIES INC US AVB 217.68 $35,800.01
05501U106 AZUL S.A SPONSORED ADR PFD BR AZUL 334.55 $11,625.50
0557681 HOWDEN JOINERY GROUP INC GB HWDN LN 993.43 $6,430.35
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 238,327.53 $230,271.55
058498106 BALL CORP US BLL 10,258.61 $407,369.45
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 133,178.18 $132,916.19
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 5,133.47 $416,170.33
09062X103 BIOGEN IDEC INC US BIIB 1,131.72 $309,886.45
09247X101 BLACKROCK INC US BLK 581.28 $314,893.67
0946580 WEIR GROUP PLC/THE GB WEIR LN 1,194.5 $33,483.70
09627J102 BLUEROCK RESIDENTIAL GROWTH US 428.92 $3,645.78
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 310,338.56 $332,581.05
09857L108 BOOKING HOLDINGS INC US BKNG 357.74 $744,248.52
101121101 BOSTON PROPERTIES INC US BXP 181.11 $22,315.82
105368203 BRANDYWINE REALTY TRUST US BDN 535.55 $8,504.46
110122108 BRISTOL MYERS SQUIBB CO US BMY 3,210.05 $203,035.51
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 224.66 $12,960.45
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 27,146.32 $25,581.88
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 24,748.94 $23,542.43
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 74,557.06 $69,239.05
12648TAA7 CSMC 2014-IVR3 A1 3.50000 07/25/2044 US 137,709.04 $137,305.55
12770QAA3 CZR 2017-VICI A 3.53100 10/15/2034 US 66,995.3 $67,626.43
13321L108 CAMECO CORP CA CCJ 706.08 $6,418.27
14314JAC4 CARMX 2017-1 A3 1.98000 11/15/2021 US 50,246.47 $49,765.69
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 1,252.4 $15,617.45
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 27,492.8 $26,186.89
16411QAA9 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 13,308.79 $13,125.80
16412XAD7 CHENIERE CORP CHRISTI HD 7.00000 06/30/2024 US 13,218.52 $14,622.99
165183AA2 CFII 2016-1A A1 2.11000 03/15/2028 US 16,911.18 $16,856.92
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 273,905.05 $271,024.33
165240102 CHESAPEAKE LODGING TRUST US CHSP 378.82 $10,535.11
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 226,429.99 $342,884.07
19238VAG0 COGECO CABLE INC 4.87500 05/01/2020 CA 7,315.32 $7,333.61
19625JAA1 CAH 2015-1A A 2.91794 07/17/2032 US 44,283.86 $44,423.51
19625W104 COLONY NORTHSTAR INC-CLASS A US CLNS 1,025.63 $5,764.02
198287203 COLUMBIA PROPERTY TRUST INC US CXP 267.11 $5,465.11
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 601.59 $15,484.90
21871N101 CORECIVIC INC US CXW 714.87 $13,954.33
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 197,579.23 $226,477.22
222795106 COUSINS PROPERTIES INC US CUZ 2,623.17 $22,769.12
22530LAA4 CAALT 2017-1A A 2.56000 10/15/2025 US 116,561.54 $115,940.60
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 13,969.72 $13,620.47
22822V101 CROWN CASTLE INTL CORP US CCI 124.36 $13,631.15
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 31,342.94 $29,284.40
229663109 CUBESMART US CUBE 362.87 $10,232.99
23311RAC0 DCP MIDSTREAM OPERATING 9.75000 03/15/2019 US 7,315.32 $7,717.66
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 223.38 $3,136.53
23918K108 DAVITA INC. US DVA 9,663.17 $637,189.70
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 17,962.36 $17,361.51
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 2,197.8 $6,726.38
25271C102 DIAMOND OFFSHORE DRILLING US DO 9,137.26 $133,952.19
253868103 DIGITAL REALTY TRUST INC US DLR 252.69 $26,628.10
2643674 GRUPO MEXICO SAB DE CV-SER MX GMEXICOB MM 6,123.94 $20,396.28
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 20,136.43 $20,237.11
269246401 ETRADE FINANCIAL CORP US ETFC 3,865.23 $214,172.54
269246BP8 E*TRADE FINANCIAL CORP 2.95000 08/24/2022 US 92,340.48 $89,889.52
2715777 QUEBECOR INC -CL B CA QBR/B CN 342.61 $6,549.90
277276101 EASTGROUP PROPERTIES US EGP 42.11 $3,481.18
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 169.07 $3,257.19
28140H203 EDUCATION REALTY TRUST INC US EDR 108.61 $3,557.08
285512109 ELECTRONIC ARTS US EA 2,602.39 $315,513.90
2866857 LUNDIN MINING CORP CA LUN CN 18,879.16 $123,824.22
29250NAR6 ENBRIDGE INC 3.70000 07/15/2027 CA 94,984.19 $91,049.70
29372EBL1 ENTERPRISE FLEET FINANCING FLT 1.59000 02/22/2021 US 22,614.12 $22,594.83
29372EBS6 EFF 2016-2 A2 1.74000 02/22/2022 US 16,004.45 $15,925.69
29372JAB3 EFF 2017-2 A2 1.97000 01/20/2023 US 100,492.94 $99,764.28
294429105 EQUIFAX INC US EFX 2,231.34 $262,873.89
29444U700 EQUINIX INC US EQIX 111.05 $46,435.15
294628102 EQUITY COMMONWEALTH US EQC 241.61 $7,410.21
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 131.22 $11,517.19
29476L107 EQUITY RESIDENTIAL US EQR 269.55 $16,609.69
297178105 ESSEX PROPERTY TRUST INC US ESS 48.77 $11,737.68
298736109 EURONET WORLDWIDE INC US EEFT 3,219.67 $254,096.38
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 177,751.45 $174,969.10
30225T102 EXTRA SPACE STORAGE INC US EXR 182.43 $15,936.86
30287EAE0 FREMF 2014-K41 B FLT 3.83208 11/25/2047 US 64,109.84 $64,113.89
30291EAE4 FREMF 2013-K712 B FLT 3.36434 05/25/2045 US 69,342.85 $69,740.60
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 5,533,270.86 $21,487.90
30291XAE2 FREMF 2014-K715 B FLT 3.97943 02/25/2046 US 62,259.25 $63,615.07
30303M102 FACEBOOK INC -A US FB 3,983 $636,443.05
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 9,881.08 $11,070.46
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 27,433.44 $30,063.38
3128M6NS3 FHLM POOL G04601 5.50000 07/01/2038 US 30,268.7 $33,133.18
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 9,883.45 $10,839.24
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 151,919.49 $159,695.30
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 12,436.12 $13,640.29
3128P75P4 FHLM POOL C91754 4.50000 03/01/2034 US 43,119.56 $45,343.31
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 58,165.38 $61,500.12
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 23,940.95 $25,406.40
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 26,580.88 $28,111.67
3128P8BT7 FHLM POOL C91850 4.00000 09/01/2035 US 136,309.01 $141,480.75
3128P8BX8 FHLM POOL C91854 4.00000 10/01/2035 US 41,847.29 $43,434.96
3132QQFU1 FHLM POOL Q33778 4.00000 06/01/2045 US 39,452.6 $40,659.61
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 78,676.5 $81,017.52
3132WF3E7 FHLM POOL Q42596 3.50000 08/01/2046 US 60,885.92 $61,135.35
3132WJX55 FHLM POOL Q45199 4.00000 01/01/2047 US 32,819.39 $33,826.68
3132WJYG0 FHLM POOL Q45210 4.00000 01/01/2047 US 27,602.18 $28,382.47
3137A2B34 FHMS K009 X1 FLT 1.29512 08/25/2020 US 565,115.71 $14,341.45
3137AME78 FHMS K017 X1 FLT 1.34561 12/25/2021 US 812,703.52 $33,057.12
3137ATSC7 FEDERAL NATL MTG ASSN KP01 A2 1.72000 01/25/2019 US 11,273.09 $11,232.68
3137AUPF0 FHMS K021 x1 FLT 1.46192 06/25/2022 US 431,383.15 $21,777.21
3137B3NB0 FHMS K030 X1 FLT 0.20508 04/25/2023 US 2,234,841.06 $20,141.06
3137B4WB8 FHMS K033 A2 3.06000 07/25/2023 US 170,838.01 $171,794.82
3137B5KW2 FHMS K035 A2 3.45800 08/25/2023 US 283,739.9 $290,911.94
3137BT7J4 FHMS KJ10 A2 2.91200 12/25/2023 US 256,275.91 $255,191.53
3137BWVV3 FHMS KJ13 A2 2.86400 08/25/2022 US 171,364.88 $171,383.20
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 32,676.77 $36,632.15
3138EGHT4 FEDERAL NATL MTG ASSN AL0241 4.00000 04/01/2041 US 81,691.74 $84,439.15
3138EHR87 FEDERAL NATL MTG ASSN AL1410 4.50000 12/01/2041 US 139,038.8 $146,919.89
3138EHXZ0 FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 17,120.4 $19,220.33
3138EP2A1 FEDERAL NATL MTG ASSN AL7068 4.50000 09/01/2042 US 73,983.52 $78,220.71
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 72,556.74 $74,993.93
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65200 01/01/2049 US 156,928.49 $170,024.25
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 39,625.35 $41,927.91
3138YNFD4 FEDERAL NATL MTG ASSN AY8263 3.00000 05/01/2035 US 63,141.64 $62,153.92
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 22,846.91 $25,106.30
3140EX2Y8 FEDERAL NATL MTG ASSN BC3490 3.50000 02/01/2046 US 184,665.39 $185,262.29
3140F2QS2 FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 55,425.05 $55,604.34
3140F8RB5 FEDERAL NATL MTG ASSN BD1381 3.50000 06/01/2046 US 33,264.55 $33,371.99
3140FPGW3 FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 US 46,406.86 $47,667.63
3140FPGZ6 FEDERAL NATL MTG ASSN BE3815 4.00000 12/01/2046 US 44,773.86 $45,990.19
3140Q7HT7 FEDERAL NATL MTG ASSN FN CA0241 4.00000 08/01/2047 US 255,559.04 $262,767.13
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 16,984.22 $17,484.33
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 20,438.92 $21,046.24
31416BRR1 FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 US 43,478.52 $48,824.34
31417FB72 FEDERAL NATL MTG ASSN AB8161 6.00000 12/01/2037 US 48,123.09 $54,026.55
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 62,646.64 $66,247.18
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 69,124.29 $73,029.48
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 24,221.82 $25,582.57
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 101,763.87 $99,343.70
31418CRE6 FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 126,039.65 $132,258.86
31418MGR7 FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 US 32,420.58 $36,359.94
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 20,390.61 $22,349.42
31428X106 FEDEX CORPORATION US FDX 1,314.71 $315,675.97
32054K103 FIRST INDUSTRIAL REALTY TR US FR 543.52 $15,887.14
345605109 FOREST CITY REALTY TRUST - A US FCE/A 410.52 $8,317.22
35563BAJ9 FREMF 2014-K37 B FLT 4.55894 01/25/2047 US 71,461.65 $74,763.83
35802XAA1 FRESENIUS MED CARE US 6.50000 09/15/2018 US 7,761.96 $7,878.47
36143WAN1 GAHR 2015-NRF BFX FLT 3.38216 12/15/2034 US 157,758.83 $158,019.21
36174X101 GGP INC US GGP 667.68 $13,660.67
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 36,804.01 $36,376.67
371559105 GENESEE & WYOMING INC -CL A US GWR 2,913.15 $206,221.81
374297109 GETTY REALTY CORP US GTY 359.32 $9,061.97
37950E366 GLOBAL X MSCI GREECE ETF GR 1,262.18 $12,243.19
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 24,384.41 $24,481.94
37954A204 GLOBAL MEDICAL REIT INC US GMRE 619.11 $4,302.84
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 19,963.19 $19,913.28
399909100 GRUPO FINANCIERO GALICIA-ADR AR GGAL 144.89 $9,528.25
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 48.52 $4,834.37
40054A108 GRUPO SUPERVIELLE SA-SP ADR AR SUPV 292.23 $8,866.17
40412CAC5 HCA HEALTHCARE INC 6.25000 02/15/2021 US 5,587.89 $5,867.28
40414L109 HCP INC US HCP 717.31 $16,663.16
410345AL6 HANESBRANDS INC 4.87500 05/15/2026 US 13,969.72 $13,550.63
4116099 BPER BANCA IT BPE IM 1,597.39 $8,907.28
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 374.61 $9,908.40
431318AQ7 HILCORP ENERGY I/HILCORP 5.75000 10/01/2025 US 19,069.92 $18,879.22
431475AB8 HILL-ROM HOLDINGS INC 5.00000 02/15/2025 US 13,837.53 $13,716.45
44107P104 HOST MARRIOTT CORP US HST 463.05 $8,631.31
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 33,039.63 $32,378.84
4457624 TRIGANO SA FR TRI FP 84.64 $15,319.92
4497749 KBC GROEP NV BE KBC BB 239.95 $20,894.47
45031UCD1 ISTAR INC 5.25000 09/15/2022 US 15,573.99 $15,067.84
45337C102 INCYTE CORP US INCY 5,211.86 $434,304.67
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 692.93 $6,361.08
45763PAE6 INMARSAT FINANCE PLC 4.87500 05/15/2022 GB 43,704.72 $42,502.84
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 14,457.41 $14,953.63
46115HBD8 INTESA SANPAOLO SPA 3.87500 01/12/2028 IT 100,772.39 $95,045.80
46186YAA2 IHSFR 2015-SFR3 A FLT 3.05032 08/17/2032 US 138,602.83 $138,699.03
46187BAA1 IHSFR 2017-SFR2 A 2.65820 12/17/2036 US 41,717.69 $42,024.39
46187BAB9 IHSFR 2017-SFR2 B 2.95820 12/17/2036 US 30,377.88 $30,524.22
46187W107 INVITATION HOMES INC US INVH 595.65 $13,598.79
464286608 ISHARES MSCI EMU XX 617.68 $26,776.47
464286780 ISHARES MSCI SOUTH AFRICA ET ZA 249.25 $17,123.23
46434G798 ISHARES MSCI RUSSIA CAPPED E RU 254.78 $9,284.34
46625HHL7 JPMORGAN CHASE & CO 6.30000 04/23/2019 US 322,325.5 $334,438.49
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83088M102 SKYWORKS SOLUTIONS INC US SWKS 4,108.52 $411,920.11
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 20,249.6 $20,091.99
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83404FAB0 SOFI 2017-A A2A 1.55000 03/26/2040 US 146,840.72 $145,605.19
83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 61,462.87 $61,366.66
83405DAB4 SOFI 2017-C A2A 1.75000 07/25/2040 US 179,061.46 $177,548.83
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 43,159.07 $42,958.13
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862121100 STORE CAPITAL CORP US STOR 333.45 $8,276.24
866674104 SUN COMMUNITIES US SUI 181.77 $16,608.00
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882508104 TEXAS INSTRUMENTS INC US TXN 2,007.23 $208,531.24
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BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 299.54 $19,242.97
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BZCNN35 BANCO COMERCIAL PORTUGUES-R PT BCP PL 24,701.41 $8,282.88
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G06242104 ATLASSIAN CORP PLC-CLASS A AU TEAM 117.87 $6,355.35
G3157S106 ENSCO INTERNATIONAL INC US ESV 13,594.4 $59,679.42
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 19,252.18 $19,974.14
G45667105 HOLLYSYS AUTOMATION TECHNOLOGIES CN HOLI 367.11 $9,075.03
G57279104 LUXOFT HOLDING INC CH LXFT 74.68 $3,058.16
G5960L103 MEDTRONIC INC IE MDT 6,776.57 $543,616.59
G68707101 PAGSEGURO DIGITAL LTD-CL A BR PAGS 230.86 $8,846.38
G97822103 PERRIGO CO PLC IE PRGO 218.75 $18,230.92
H8817H100 TRANSOCEAN LTD US RIG 21,371.43 $211,577.19
N47279109 INTERXION HOLDING NX NL INXN 372.17 $23,115.48
N72482123 QIAGEN N.V. ADR NL QGEN 268.3 $8,668.72
USD US DOLLAR US 651,552.85 $651,552.85

Based on the investments of the underlying fund(s): Manning & Napier Fund, Inc. Pro-Blend® Extended Term Series and Manning & Napier Fund, Inc. Pro-Blend® Moderate Term Series through 10/15/2017, and Manning & Napier Fund, Inc. Blended Asset Extended Series and Manning & Napier Fund, Inc. Blended Asset Moderate Series beginning 10/16/2017. Investments will change over time and as the target date fund gradually becomes more conservative. Fund holdings list does not include securities with positions less than 0.005 shares.

Daily Price

$11.78

Daily $ Change

-$0.07

Daily % Change

-0.59%

as of 04/24/2018

Ticker

MTOAX

CUSIP

56382P419

Inception Date

06/25/2012

Investment Minimum

$1,000,000.00

Investment minimum may be waived for certain qualified retirement plans.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Fact Sheet
Applications & Forms
XBRL-3/20/18

Information on Underlying Investments

Blended Asset Series Prospectus
Blended Asset Series SAI
XBRL Blended Asset Series – 11/02/2017
Blended Asset Series Annual Report
Pro-Blend® Series Semi-Annual Report

The financial statements of the underlying investments should be read in conjunction with the Series’ financial statements. Beginning 10/16/2017, the underlying funds are the Manning & Napier Fund, Inc. Blended Asset Series. The Blended Asset Series are not currently available for direct investment. Prior to 10/16/2017, the underlying funds were the Manning & Napier Fund, Inc. Pro-Blend Series. The annual report for the Blended Asset Series as of 10/31/2017 and the semi-annual report for the Pro-Blend Series as of 04/30/2017 are provided above.

Investment Objective

To provide capital growth and manage risk for investors planning to retire (or meet another investment goal) in or around the year indicated in the fund’s name.

Investment Strategy

Currently: The portfolio is currently invested in a balanced mix of securities that seeks a more stable rate of long-term growth than that of the broad stock market. The portfolio is diversified among fixed income securities, primarily with intermediate to long-term maturities, and various stocks. Stock exposure can range from 27% - 67%.

Over Time: The portfolio’s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. During the target year, the portfolio’s stock exposure can range from 20% - 60%. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 15% - 45%.

May be Appropriate for Investors

  • Who plan to stop contributions and start periodic withdrawals around the year 2025
  • Who have a moderate tolerance for risk and can accept fluctuations in current account value
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time

About Target Date Funds

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

Target Series Glide Path Overview

Learn more about our Glide Range SM

Annualized Performance

As of 03/31/2018

YTD

-0.33%

1 Year

7.03%

3 Year

3.48%

5 Year

5.34%

10 Year

---

Inception
(06/25/2012)

7.69%

Market Cycle

---

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.

Expense Ratio

Gross 1.17%
Net 0.74%*

*Includes acquired fund fees and expenses of the underlying Series. Reflects the Advisor’s contractual agreement to limit its fees and reimburse certain expenses. The contractual waiver may not be amended or terminated prior to the expiration date (02/29/2028) without the approval of the Fund's Board of Directors.

Top Ten Investments

As of 03/31/2018

TREASURY NOTES 14.38%
GOVERNMENT AGENCY 5.89%
TREASURY BONDS 5.52%
QORVO INC 1.81%
BOOKING HOLDINGS INC 1.56%
REGENERON PHARMACEUTICALS INC 1.38%
ANHEUSER-BUSCH INBEV SA/NV 1.37%
DAVITA INC. 1.33%
FACEBOOK INC -A 1.33%
MEDTRONIC INC 1.14%

Top Ten Investments list is unaudited and excludes cash

Asset Allocation

As of 03/31/2018

Bonds
55.83%
Stocks
42.83%
Cash
1.34%

Detailed Asset Class Allocation

As of 03/31/2018

International Equities
14.27%
Small Capitalization
0.78%
Mid Capitalization
5.66%
Large Capitalization
22.13%
Long Term Fixed Income
16.19%
Intermediate Term Fixed Income
28.76%
Short Term Fixed Income
10.87%
Cash
1.34%

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

March Fund Holdings

As of 03/31/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00163UAB2 AMAG PHARMACEUTICALS INC 7.87500 09/01/2023 US 13,837.53 $13,664.56
00206REM0 AT&T INC 3.90000 08/14/2027 US 215,855.17 $217,341.24
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 193,745.86 $190,314.62
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 26,965.79 $27,842.18
004239109 ACADIA REALTY TRUST US AKR 215.9 $5,311.25
0045614 ANTOFAGASTA PLC GB ANTO LN 10,053.42 $129,978.96
0053673 ASHTEAD GROUP PLC GB AHT LN 635.41 $17,325.55
00772BAF8 AERCAP IRELAND CAP LTD/A 4.50000 05/15/2021 IE 72,701.88 $74,470.94
008492100 AGREE REALTY CORP US ADC 97.08 $4,663.82
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 7,315.32 $7,607.93
009563AD9 AIRXCEL INC 8.50000 02/15/2022 US 18,582.23 $20,092.03
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 92.46 $11,546.76
01609W102 ALIBABA GROUP - ADR CN BABA 1,964.28 $360,523.07
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 353,409.44 $335,422.66
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 12,862.16 $13,055.09
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 13,308.79 $13,325.43
02079K107 ALPHABET INC-CL C US GOOG 200.77 $207,155.77
02079K305 ALPHABET INC-CL A US GOOGL 200.77 $208,229.90
023135106 AMAZON.COM INC US AMZN 79.85 $115,574.08
02319V103 AMBEV SA-ADR BR ABEV 62,090.84 $451,400.41
0237400 DIAGEO PLC GB DGE LN 13,944.42 $471,595.30
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 283.73 $10,957.47
0263494 BAE SYSTEMS PLC GB BA/ LN 809.32 $6,621.56
02665T306 AMERICAN HOMES 4 RENT- A US AMH 816.17 $16,388.72
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 229,985.02 $225,369.89
026874CY1 AMERICAN INTL GROUP 4.12500 02/15/2024 US 131,856.33 $133,800.58
03027X100 AMERICAN TOWER REIT INC US AMT 752.68 $109,394.78
03064D108 AMERICOLD REALTY TRUST US COLD 266.45 $5,083.88
034863AT7 ANGLO AMERICAN CAPITAL 4.00000 09/11/2027 GB 233,540.05 $223,965.70
03748R101 APARTMENT INVT & MGMT CO -A US AIV 358.45 $14,606.87
0405207 HALMA PLC GB HLMA LN 533.5 $8,831.09
04621WAC4 ASSURED GUARANTY US HLDG 5.00000 07/01/2024 US 220,140.99 $234,671.08
0490656 KERRY GROUP PLC-A IE KYGA LN 178.58 $18,050.82
053484101 AVALONBAY COMMUNITIES INC US AVB 217.68 $35,800.01
05501U106 AZUL S.A SPONSORED ADR PFD BR AZUL 334.55 $11,625.50
0557681 HOWDEN JOINERY GROUP INC GB HWDN LN 993.43 $6,430.35
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 238,327.53 $230,271.55
058498106 BALL CORP US BLL 10,258.61 $407,369.45
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 133,178.18 $132,916.19
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 5,133.47 $416,170.33
09062X103 BIOGEN IDEC INC US BIIB 1,131.72 $309,886.45
09247X101 BLACKROCK INC US BLK 581.28 $314,893.67
0946580 WEIR GROUP PLC/THE GB WEIR LN 1,194.5 $33,483.70
09627J102 BLUEROCK RESIDENTIAL GROWTH US 428.92 $3,645.78
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 310,338.56 $332,581.05
09857L108 BOOKING HOLDINGS INC US BKNG 357.74 $744,248.52
101121101 BOSTON PROPERTIES INC US BXP 181.11 $22,315.82
105368203 BRANDYWINE REALTY TRUST US BDN 535.55 $8,504.46
110122108 BRISTOL MYERS SQUIBB CO US BMY 3,210.05 $203,035.51
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 224.66 $12,960.45
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 27,146.32 $25,581.88
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 24,748.94 $23,542.43
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 74,557.06 $69,239.05
12648TAA7 CSMC 2014-IVR3 A1 3.50000 07/25/2044 US 137,709.04 $137,305.55
12770QAA3 CZR 2017-VICI A 3.53100 10/15/2034 US 66,995.3 $67,626.43
13321L108 CAMECO CORP CA CCJ 706.08 $6,418.27
14314JAC4 CARMX 2017-1 A3 1.98000 11/15/2021 US 50,246.47 $49,765.69
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 1,252.4 $15,617.45
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 27,492.8 $26,186.89
16411QAA9 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 13,308.79 $13,125.80
16412XAD7 CHENIERE CORP CHRISTI HD 7.00000 06/30/2024 US 13,218.52 $14,622.99
165183AA2 CFII 2016-1A A1 2.11000 03/15/2028 US 16,911.18 $16,856.92
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 273,905.05 $271,024.33
165240102 CHESAPEAKE LODGING TRUST US CHSP 378.82 $10,535.11
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 226,429.99 $342,884.07
19238VAG0 COGECO CABLE INC 4.87500 05/01/2020 CA 7,315.32 $7,333.61
19625JAA1 CAH 2015-1A A 2.91794 07/17/2032 US 44,283.86 $44,423.51
19625W104 COLONY NORTHSTAR INC-CLASS A US CLNS 1,025.63 $5,764.02
198287203 COLUMBIA PROPERTY TRUST INC US CXP 267.11 $5,465.11
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 601.59 $15,484.90
21871N101 CORECIVIC INC US CXW 714.87 $13,954.33
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 197,579.23 $226,477.22
222795106 COUSINS PROPERTIES INC US CUZ 2,623.17 $22,769.12
22530LAA4 CAALT 2017-1A A 2.56000 10/15/2025 US 116,561.54 $115,940.60
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 13,969.72 $13,620.47
22822V101 CROWN CASTLE INTL CORP US CCI 124.36 $13,631.15
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 31,342.94 $29,284.40
229663109 CUBESMART US CUBE 362.87 $10,232.99
23311RAC0 DCP MIDSTREAM OPERATING 9.75000 03/15/2019 US 7,315.32 $7,717.66
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 223.38 $3,136.53
23918K108 DAVITA INC. US DVA 9,663.17 $637,189.70
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 17,962.36 $17,361.51
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 2,197.8 $6,726.38
25271C102 DIAMOND OFFSHORE DRILLING US DO 9,137.26 $133,952.19
253868103 DIGITAL REALTY TRUST INC US DLR 252.69 $26,628.10
2643674 GRUPO MEXICO SAB DE CV-SER MX GMEXICOB MM 6,123.94 $20,396.28
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 20,136.43 $20,237.11
269246401 ETRADE FINANCIAL CORP US ETFC 3,865.23 $214,172.54
269246BP8 E*TRADE FINANCIAL CORP 2.95000 08/24/2022 US 92,340.48 $89,889.52
2715777 QUEBECOR INC -CL B CA QBR/B CN 342.61 $6,549.90
277276101 EASTGROUP PROPERTIES US EGP 42.11 $3,481.18
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 169.07 $3,257.19
28140H203 EDUCATION REALTY TRUST INC US EDR 108.61 $3,557.08
285512109 ELECTRONIC ARTS US EA 2,602.39 $315,513.90
2866857 LUNDIN MINING CORP CA LUN CN 18,879.16 $123,824.22
29250NAR6 ENBRIDGE INC 3.70000 07/15/2027 CA 94,984.19 $91,049.70
29372EBL1 ENTERPRISE FLEET FINANCING FLT 1.59000 02/22/2021 US 22,614.12 $22,594.83
29372EBS6 EFF 2016-2 A2 1.74000 02/22/2022 US 16,004.45 $15,925.69
29372JAB3 EFF 2017-2 A2 1.97000 01/20/2023 US 100,492.94 $99,764.28
294429105 EQUIFAX INC US EFX 2,231.34 $262,873.89
29444U700 EQUINIX INC US EQIX 111.05 $46,435.15
294628102 EQUITY COMMONWEALTH US EQC 241.61 $7,410.21
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 131.22 $11,517.19
29476L107 EQUITY RESIDENTIAL US EQR 269.55 $16,609.69
297178105 ESSEX PROPERTY TRUST INC US ESS 48.77 $11,737.68
298736109 EURONET WORLDWIDE INC US EEFT 3,219.67 $254,096.38
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 177,751.45 $174,969.10
30225T102 EXTRA SPACE STORAGE INC US EXR 182.43 $15,936.86
30287EAE0 FREMF 2014-K41 B FLT 3.83208 11/25/2047 US 64,109.84 $64,113.89
30291EAE4 FREMF 2013-K712 B FLT 3.36434 05/25/2045 US 69,342.85 $69,740.60
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 5,533,270.86 $21,487.90
30291XAE2 FREMF 2014-K715 B FLT 3.97943 02/25/2046 US 62,259.25 $63,615.07
30303M102 FACEBOOK INC -A US FB 3,983 $636,443.05
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 9,881.08 $11,070.46
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 27,433.44 $30,063.38
3128M6NS3 FHLM POOL G04601 5.50000 07/01/2038 US 30,268.7 $33,133.18
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 9,883.45 $10,839.24
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 151,919.49 $159,695.30
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 12,436.12 $13,640.29
3128P75P4 FHLM POOL C91754 4.50000 03/01/2034 US 43,119.56 $45,343.31
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 58,165.38 $61,500.12
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 23,940.95 $25,406.40
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 26,580.88 $28,111.67
3128P8BT7 FHLM POOL C91850 4.00000 09/01/2035 US 136,309.01 $141,480.75
3128P8BX8 FHLM POOL C91854 4.00000 10/01/2035 US 41,847.29 $43,434.96
3132QQFU1 FHLM POOL Q33778 4.00000 06/01/2045 US 39,452.6 $40,659.61
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 78,676.5 $81,017.52
3132WF3E7 FHLM POOL Q42596 3.50000 08/01/2046 US 60,885.92 $61,135.35
3132WJX55 FHLM POOL Q45199 4.00000 01/01/2047 US 32,819.39 $33,826.68
3132WJYG0 FHLM POOL Q45210 4.00000 01/01/2047 US 27,602.18 $28,382.47
3137A2B34 FHMS K009 X1 FLT 1.29512 08/25/2020 US 565,115.71 $14,341.45
3137AME78 FHMS K017 X1 FLT 1.34561 12/25/2021 US 812,703.52 $33,057.12
3137ATSC7 FEDERAL NATL MTG ASSN KP01 A2 1.72000 01/25/2019 US 11,273.09 $11,232.68
3137AUPF0 FHMS K021 x1 FLT 1.46192 06/25/2022 US 431,383.15 $21,777.21
3137B3NB0 FHMS K030 X1 FLT 0.20508 04/25/2023 US 2,234,841.06 $20,141.06
3137B4WB8 FHMS K033 A2 3.06000 07/25/2023 US 170,838.01 $171,794.82
3137B5KW2 FHMS K035 A2 3.45800 08/25/2023 US 283,739.9 $290,911.94
3137BT7J4 FHMS KJ10 A2 2.91200 12/25/2023 US 256,275.91 $255,191.53
3137BWVV3 FHMS KJ13 A2 2.86400 08/25/2022 US 171,364.88 $171,383.20
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 32,676.77 $36,632.15
3138EGHT4 FEDERAL NATL MTG ASSN AL0241 4.00000 04/01/2041 US 81,691.74 $84,439.15
3138EHR87 FEDERAL NATL MTG ASSN AL1410 4.50000 12/01/2041 US 139,038.8 $146,919.89
3138EHXZ0 FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 17,120.4 $19,220.33
3138EP2A1 FEDERAL NATL MTG ASSN AL7068 4.50000 09/01/2042 US 73,983.52 $78,220.71
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 72,556.74 $74,993.93
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65200 01/01/2049 US 156,928.49 $170,024.25
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 39,625.35 $41,927.91
3138YNFD4 FEDERAL NATL MTG ASSN AY8263 3.00000 05/01/2035 US 63,141.64 $62,153.92
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 22,846.91 $25,106.30
3140EX2Y8 FEDERAL NATL MTG ASSN BC3490 3.50000 02/01/2046 US 184,665.39 $185,262.29
3140F2QS2 FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 55,425.05 $55,604.34
3140F8RB5 FEDERAL NATL MTG ASSN BD1381 3.50000 06/01/2046 US 33,264.55 $33,371.99
3140FPGW3 FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 US 46,406.86 $47,667.63
3140FPGZ6 FEDERAL NATL MTG ASSN BE3815 4.00000 12/01/2046 US 44,773.86 $45,990.19
3140Q7HT7 FEDERAL NATL MTG ASSN FN CA0241 4.00000 08/01/2047 US 255,559.04 $262,767.13
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 16,984.22 $17,484.33
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 20,438.92 $21,046.24
31416BRR1 FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 US 43,478.52 $48,824.34
31417FB72 FEDERAL NATL MTG ASSN AB8161 6.00000 12/01/2037 US 48,123.09 $54,026.55
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 62,646.64 $66,247.18
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 69,124.29 $73,029.48
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 24,221.82 $25,582.57
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 101,763.87 $99,343.70
31418CRE6 FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 126,039.65 $132,258.86
31418MGR7 FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 US 32,420.58 $36,359.94
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 20,390.61 $22,349.42
31428X106 FEDEX CORPORATION US FDX 1,314.71 $315,675.97
32054K103 FIRST INDUSTRIAL REALTY TR US FR 543.52 $15,887.14
345605109 FOREST CITY REALTY TRUST - A US FCE/A 410.52 $8,317.22
35563BAJ9 FREMF 2014-K37 B FLT 4.55894 01/25/2047 US 71,461.65 $74,763.83
35802XAA1 FRESENIUS MED CARE US 6.50000 09/15/2018 US 7,761.96 $7,878.47
36143WAN1 GAHR 2015-NRF BFX FLT 3.38216 12/15/2034 US 157,758.83 $158,019.21
36174X101 GGP INC US GGP 667.68 $13,660.67
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 36,804.01 $36,376.67
371559105 GENESEE & WYOMING INC -CL A US GWR 2,913.15 $206,221.81
374297109 GETTY REALTY CORP US GTY 359.32 $9,061.97
37950E366 GLOBAL X MSCI GREECE ETF GR 1,262.18 $12,243.19
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 24,384.41 $24,481.94
37954A204 GLOBAL MEDICAL REIT INC US GMRE 619.11 $4,302.84
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 19,963.19 $19,913.28
399909100 GRUPO FINANCIERO GALICIA-ADR AR GGAL 144.89 $9,528.25
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 48.52 $4,834.37
40054A108 GRUPO SUPERVIELLE SA-SP ADR AR SUPV 292.23 $8,866.17
40412CAC5 HCA HEALTHCARE INC 6.25000 02/15/2021 US 5,587.89 $5,867.28
40414L109 HCP INC US HCP 717.31 $16,663.16
410345AL6 HANESBRANDS INC 4.87500 05/15/2026 US 13,969.72 $13,550.63
4116099 BPER BANCA IT BPE IM 1,597.39 $8,907.28
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 374.61 $9,908.40
431318AQ7 HILCORP ENERGY I/HILCORP 5.75000 10/01/2025 US 19,069.92 $18,879.22
431475AB8 HILL-ROM HOLDINGS INC 5.00000 02/15/2025 US 13,837.53 $13,716.45
44107P104 HOST MARRIOTT CORP US HST 463.05 $8,631.31
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 33,039.63 $32,378.84
4457624 TRIGANO SA FR TRI FP 84.64 $15,319.92
4497749 KBC GROEP NV BE KBC BB 239.95 $20,894.47
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83088M102 SKYWORKS SOLUTIONS INC US SWKS 4,108.52 $411,920.11
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83404FAB0 SOFI 2017-A A2A 1.55000 03/26/2040 US 146,840.72 $145,605.19
83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 61,462.87 $61,366.66
83405DAB4 SOFI 2017-C A2A 1.75000 07/25/2040 US 179,061.46 $177,548.83
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 43,159.07 $42,958.13
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862121100 STORE CAPITAL CORP US STOR 333.45 $8,276.24
866674104 SUN COMMUNITIES US SUI 181.77 $16,608.00
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BGSH2S6 CVC BRASIL OPERADORA E AGENCIA BR CVCB3 BZ 576.11 $10,580.11
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BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 9,880.86 $310,641.35
BVRZ8L1 AENA SA ES AENA SM 166.18 $33,509.02
BVSS790 ELIS SA FR ELIS FP 353.6 $8,755.42
BYXS699 QIAGEN N.V. NL QIA GR 351.25 $11,355.36
BYY8LS2 MAISONS DU MONDE SA FR MDM FP 210.69 $7,694.91
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 5,974.91 $656,922.44
BYZ43T4 EUROBANK ERGASIAS SA GR EUROB GA 13,103.23 $12,459.67
BYZFYS3 SPIE SA FR SPIE FP 755.72 $16,721.27
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 2,289.39 $13,945.58
BYZR014 AMUNDI SA FR AMUN FP 262.1 $21,048.52
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 299.54 $19,242.97
BZ3C3Q4 BANKIA SA ES BKIA SM 2,359.05 $10,582.62
BZCNN35 BANCO COMERCIAL PORTUGUES-R PT BCP PL 24,701.41 $8,282.88
G02602103 AMDOCS LTD GG DOX 333.06 $22,222.08
G06242104 ATLASSIAN CORP PLC-CLASS A AU TEAM 117.87 $6,355.35
G3157S106 ENSCO INTERNATIONAL INC US ESV 13,594.4 $59,679.42
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 19,252.18 $19,974.14
G45667105 HOLLYSYS AUTOMATION TECHNOLOGIES CN HOLI 367.11 $9,075.03
G57279104 LUXOFT HOLDING INC CH LXFT 74.68 $3,058.16
G5960L103 MEDTRONIC INC IE MDT 6,776.57 $543,616.59
G68707101 PAGSEGURO DIGITAL LTD-CL A BR PAGS 230.86 $8,846.38
G97822103 PERRIGO CO PLC IE PRGO 218.75 $18,230.92
H8817H100 TRANSOCEAN LTD US RIG 21,371.43 $211,577.19
N47279109 INTERXION HOLDING NX NL INXN 372.17 $23,115.48
N72482123 QIAGEN N.V. ADR NL QGEN 268.3 $8,668.72
USD US DOLLAR US 651,552.85 $651,552.85

Based on the investments of the underlying fund(s): Manning & Napier Fund, Inc. Pro-Blend® Extended Term Series and Manning & Napier Fund, Inc. Pro-Blend® Moderate Term Series through 10/15/2017, and Manning & Napier Fund, Inc. Blended Asset Extended Series and Manning & Napier Fund, Inc. Blended Asset Moderate Series beginning 10/16/2017. Investments will change over time and as the target date fund gradually becomes more conservative. Fund holdings list does not include securities with positions less than 0.005 shares.

Distributions

  • Target 2025 Series Class I Distribution History
  • 2018 Distribution Calendar
  • Fourth Quarter 2017 Distributions
  • Third Quarter 2017 Distributions
  • Second Quarter 2017 Distributions
  • First Quarter 2018 Distributions
  • Tax Letter

A Word About Risk

Each Manning & Napier Fund, Inc. Target Series is invested in one or two of four proprietary risk-based funds based on the Target Series 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).


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