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 moderately aggressive, growth-oriented mix of securities that seeks to earn the long-term growth typically associated with the stock market without full market risk. The portfolio is diversified primarily among various stock investments in both domestic and foreign markets, with a portion of the portfolio invested in fixed income securities. Stock exposure can range from 58% - 87%.

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 2040
  • Who have time to pursue growth and can accept significant fluctuations in current account value
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time

About Target Date Funds

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

Target Series Glide Path Overview

Learn more about our Glide Range SM

Daily Price

$10.16

Daily $ Change

-$0.12

Daily % Change

-1.18%

as of 10/18/2018

Ticker

MTTIX

CUSIP

56382P609

Inception Date

03/28/2008

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
Blended Asset 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.

Performance

As of 09/30/2018

YTD

5.50%

1 Year

9.68%

3 Year

11.56%

5 Year

7.39%

10 Year

8.03%

Inception
(03/28/2008)

6.97%

Market Cycle

---

Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. 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 0.93%
Net 0.76%*

*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 09/30/2018

TREASURY NOTES 10.03%
TREASURY BONDS 2.67%
GOVERNMENT AGENCY 2.50%
INCYTE CORP 2.09%
BOOKING HOLDINGS INC 1.83%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 1.81%
LULULEMON - ADR 1.79%
MASTERCARD INC-CLASS A 1.79%
QORVO INC 1.70%
VISA INC - CLASS A SHARES 1.59%

Top Ten Investments list is unaudited and excludes cash

Asset Allocation

As of 09/30/2018

Stocks 71.06%
Bonds 28.21%
Cash 0.73%

Detailed Asset Class Allocation

As of 09/30/2018

International Equities 24.64%
Small Capitalization 1.16%
Mid Capitalization 7.24%
Large Capitalization 38.02%
Long Term Fixed Income 7.07%
Intermediate Term Fixed Income 16.32%
Short Term Fixed Income 4.82%
Cash 0.73%

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

September Fund Holdings

As of 09/30/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAM8 ADT CORP 5.25000 03/15/2020 US 10,387.24 $10,543.04
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 154,505.33 $152,509.49
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 87,893.59 $86,591.00
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 28,873.26 $29,450.72
004239109 ACADIA REALTY TRUST US AKR 223.63 $6,268.45
0045614 ANTOFAGASTA PLC GB ANTO LN 12,564.15 $139,618.11
0053673 ASHTEAD GROUP PLC GB AHT LN 448.41 $14,227.48
00724F101 ADOBE SYS INC US ADBE 1,526.44 $412,061.78
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 153,089.97 $151,477.30
00790X101 ADVANCED DISPOSAL SERVICES US ADSW 15,519.57 $420,269.91
0081180 BARRATT DEVELOPMENTS PLC GB BDEV LN 882.19 $6,515.00
008492100 AGREE REALTY CORP US ADC 101.43 $5,387.93
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 7,396.61 $7,628.88
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 41.55 $5,226.44
01609W102 ALIBABA GROUP - ADR CN BABA 5,431.08 $894,824.96
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 247,966.56 $231,128.28
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 12,747.75 $12,875.23
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 11,802.59 $11,802.59
02079K107 ALPHABET INC-CL C US GOOG 454.88 $542,883.76
02079K305 ALPHABET INC-CL A US GOOGL 470.63 $568,089.43
02209S103 ALTRIA GROUP INC US MO 5,274.01 $318,075.35
023135106 AMAZON.COM INC US AMZN 340.46 $681,939.23
02319V103 AMBEV SA-ADR BR ABEV 163,344.49 $746,484.32
0237400 DIAGEO PLC GB DGE LN 18,366.08 $650,678.72
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 248.97 $10,247.76
0263494 BAE SYSTEMS PLC GB BA/ LN 2,849.7 $23,367.56
02665T306 AMERICAN HOMES 4 RENT- A US AMH 932.77 $20,418.39
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 160,486.58 $153,535.30
02753GAA7 AMERICAN MIDSTREAM PTR/F 9.50000 12/15/2021 US 17,076.17 $17,076.17
03027X100 AMERICAN TOWER REIT INC US AMT 4,367.51 $634,599.76
03064D108 AMERICOLD REALTY TRUST US COLD 177.84 $4,449.52
03748R101 APARTMENT INVT & MGMT CO -A US AIV 359.28 $15,855.17
03784Y200 APPLE HOSPITALITY REIT INC US APLE 470.16 $8,223.18
03969AAL4 ARDAGH PKG FIN/HLDGS USA 6.00000 02/15/2025 IE 28,307.11 $27,705.59
0405207 HALMA PLC GB HLMA LN 753.41 $14,184.49
0490656 KERRY GROUP PLC-A IE KYGA LN 248.73 $27,448.79
053332102 AUTOZONE INC US AZO 795.51 $617,078.48
053484101 AVALONBAY COMMUNITIES INC US AVB 220.64 $39,969.45
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 125,825.12 $120,861.19
058498106 BALL CORP US BLL 19,576.2 $861,156.88
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 234,908.53 $231,822.36
0822011 DS SMITH PLC GB SMDS LN 3,106.6 $19,350.78
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 7,583 $735,323.12
09062X103 BIOGEN IDEC INC US BIIB 962.58 $340,089.45
0922320 SMITH & NEPHEW PLC GB SN/ LN 708.01 $12,917.40
09247X101 BLACKROCK INC US BLK 1,848.66 $871,329.35
0946580 WEIR GROUP PLC/THE GB WEIR LN 1,691.29 $38,801.59
09627J102 BLUEROCK RESIDENTIAL GROWTH US 448.13 $4,391.72
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 217,284.6 $229,948.49
09857L108 BOOKING HOLDINGS INC US BKNG 691.73 $1,372,391.96
101121101 BOSTON PROPERTIES INC US BXP 246.3 $30,317.44
105368203 BRANDYWINE REALTY TRUST US BDN 1,260.53 $19,815.53
110122108 BRISTOL MYERS SQUIBB CO US BMY 5,730.21 $355,731.28
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 507.34 $23,657.19
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 11,962.51 $11,842.88
1248EPBR3 CCO HLDGS LLC/CAP CORP 5.50000 05/01/2026 US 17,076.17 $16,884.06
12503M108 CBOE GLOBAL MARKETS INC US CBOE 994 $95,383.85
125269100 CF INDUSTRIES HOLDINGS INC US CF 13,847.08 $753,835.27
12572Q105 CME GROUP INC US CME 565.52 $96,257.54
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 153,089.97 $153,288.99
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 23,984.2 $23,444.56
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 31,551.58 $29,186.59
12648TAA7 CSMC 2014-IVR3 A1 3.50000 07/25/2044 US 57,283.08 $56,081.45
13321L108 CAMECO CORP CA CCJ 1,186.69 $13,528.31
134429109 CAMPBELL SOUP CO US CPB 9,394.92 $344,135.74
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 661.79 $7,564.29
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 64,756.39 $64,587.97
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 48,964.65 $45,551.82
15672WAJ3 CEQUEL COM HLDG I/CAP CP 7.50000 04/01/2028 US 28,307.11 $29,687.09
16411QAB7 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 16,368.49 $16,388.62
165183AA2 CFII 2016-1A A1 2.11000 03/15/2028 US 11,434.32 $11,404.44
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 107,870.95 $106,852.80
165183BB9 CFII 2017-4A A1 2.12000 11/15/2029 US 67,775.6 $66,965.85
165240102 CHESAPEAKE LODGING TRUST US CHSP 242.13 $7,764.95
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 161,901.93 $233,699.85
191216100 COCA COLA CO/THE US KO 12,372.18 $571,470.86
194162103 COLGATE-PALMOLIVE CO US CL 4,481.65 $300,046.17
19626G108 COLONY CAPITAL INC US CLNY 1,073.4 $6,537.00
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 316.89 $9,817.27
2162760 CAE INC CA CAE CN 325.87 $6,614.96
2171573 CANADIAN NATURAL RESOURCES CA CNQ CN 593.81 $19,400.76
2180632 CANADIAN NATL RAILWAY CO CA CNR CN 76.82 $6,893.13
21871N101 CORECIVIC INC US CXW 634.33 $15,433.23
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 97,707.3 $108,102.34
222795106 COUSINS PROPERTIES INC US CUZ 2,198.12 $19,541.29
22530LAA4 CAALT 2017-1A A 2.56000 10/15/2025 US 63,832.54 $63,524.64
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 14,085.54 $13,761.57
22822V101 CROWN CASTLE INTL CORP US CCI 132.59 $14,761.38
228368106 CROWN HOLDINGS INC US CCK 3,555.39 $170,658.54
229663109 CUBESMART US CUBE 268.49 $7,660.10
23311RAD8 DCP MIDSTREAM OPERATING 5.35000 03/15/2020 US 10,387.24 $10,620.95
23331A109 DR HORTON INC US DHI 54.77 $2,310.07
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 9,886.49 $112,592.65
23918K108 DAVITA INC. US DVA 7,831.89 $560,998.39
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 18,651.44 $17,788.81
2392471 GRUPO BIMBO SAB- SERIES A MX BIMBOA MM 3,359.52 $7,148.45
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 5,858.91 $20,058.80
2491914 KIMBERLY CLARK DE MEXICO S.A.B. MX 7,740.52 $13,732.25
25271C102 DIAMOND OFFSHORE DRILLING US DO 13,957.9 $279,158.03
253393102 DICK'S SPORTING GOODS INC US DKS 11,660.15 $413,702.29
253868103 DIGITAL REALTY TRUST INC US DLR 262.03 $29,473.34
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 154,505.33 $151,065.50
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 28,307.11 $28,660.95
2639349 GRUPO AEROPORT DEL SURESTE-B MX 637.17 $13,019.81
2643674 GRUPO MEXICO SAB DE CV-SER MX GMEXICOB MM 2,052.82 $5,908.13
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 19,861.29 $19,960.60
269246401 ETRADE FINANCIAL CORP US ETFC 11,015.18 $577,085.49
2715777 QUEBECOR INC -CL B CA QBR/B CN 19,199.29 $384,981.60
277276101 EASTGROUP PROPERTIES US EGP 45.25 $4,326.54
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 20,513.72 $399,744.69
285512109 ELECTRONIC ARTS US EA 5,755.98 $693,538.12
2866857 LUNDIN MINING CORP CA LUN CN 38,260.55 $202,610.72
29372EBS6 EFF 2016-2 A2 1.74000 02/22/2022 US 10,729.76 $10,693.88
294429105 EQUIFAX INC US EFX 2,766.37 $361,205.13
29444U700 EQUINIX INC US EQIX 1,279.68 $553,958.75
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 110.4 $10,648.21
29476L107 EQUITY RESIDENTIAL US EQR 450.9 $29,876.45
297178105 ESSEX PROPERTY TRUST INC US ESS 50.36 $12,424.54
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 70,767.78 $69,462.83
30225T102 EXTRA SPACE STORAGE INC US EXR 118.67 $10,281.18
30261UAJ3 FREMF 2013-K713 B 3.26256 04/25/2046 US 70,767.78 $70,550.33
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 19,359.11 $19,746.30
30287EAE0 FREMF 2014-K41 B FLT 3.96247 11/25/2047 US 68,644.75 $67,494.12
30291EAE4 FREMF 2013-K712 B FLT 3.47300 05/25/2045 US 40,054.57 $40,046.97
30291XAE2 FREMF 2014-K715 B FLT 4.11905 02/25/2046 US 66,663.25 $67,441.39
30292HAU0 FREMF 2014- K503 B 3.08905 10/25/2047 US 70,767.78 $70,592.11
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 26,831.63 $28,907.47
3128M6NS3 FHLM POOL G04601 5.50000 07/01/2038 US 28,946.07 $31,132.99
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 58,904.13 $61,065.98
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 23,072 $23,945.32
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 21,333.05 $22,288.78
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 24,879.32 $25,816.59
3132QQFU1 FHLM POOL Q33778 4.00000 06/01/2045 US 35,265.27 $35,700.36
3132XYDL8 FHLM POOL Q55506 4.50000 04/01/2048 US 109,794.08 $113,391.64
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 43,292.35 $42,848.95
3137AME78 FHMS K017 X1 FLT 1.48234 12/25/2021 US 862,474.79 $29,773.92
3137ATSC7 FEDERAL NATL MTG ASSN KP01 A2 1.72000 01/25/2019 US 1,088.27 $1,085.82
3137F4YU0 FHLM POOL FHR4791 4.00000 03/15/2044 US 55,213.25 $56,041.16
3137FG2L8 FHLM POOL 4801 4.50000 05/15/2044 US 57,236.71 $58,987.52
3138EGHT4 FEDERAL NATL MTG ASSN AL0241 4.00000 04/01/2041 US 41,607.78 $42,332.20
3138EHR87 FEDERAL NATL MTG ASSN AL1410 4.50000 12/01/2041 US 66,235.12 $68,872.90
3138EHXZ0 FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 15,684.85 $17,171.64
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 35,404.53 $36,020.47
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65400 01/01/2049 US 74,388.09 $79,272.05
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 39,606.99 $41,213.45
3140EX2Y8 FEDERAL NATL MTG ASSN BC3490 3.50000 02/01/2046 US 89,577.11 $88,532.65
3140FPGW3 FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 US 49,200.93 $49,718.98
3140FPGZ6 FEDERAL NATL MTG ASSN BE3815 4.00000 12/01/2046 US 47,486.67 $47,986.67
3140H2PH5 FEDERAL NATL MATG ASSN FN BJ1323 3.50000 11/01/2047 US 143,291.5 $141,287.31
3140HPMQ7 FEDERAL NATIONAL MTGE FN BK9366 4.50000 08/01/2048 US 35,341.76 $36,491.56
3140J8YU1 FEDERAL NATL MTGE ASSN FN BM4322 4.00000 07/01/2048 US 143,204.63 $144,995.18
3140Q7HT7 FEDERAL NATL MTG ASSN FN CA0241 4.00000 08/01/2047 US 115,671.14 $116,937.12
3140Q9D42 FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 US 81,033.56 $85,182.59
3140Q9PD9 FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 US 64,043.51 $67,319.41
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 5,627.28 $5,734.44
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 6,796.8 $6,922.58
31410HAQ4 MACYS RETAIL HLDGS INC 6.90000 04/01/2029 US 73,006.6 $77,261.31
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 25,201.17 $26,244.20
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 38,134.06 $39,537.60
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 46,750.71 $44,785.63
31418CQA5 FEDERAL NATL MTGE ASSN FN MA3148 3.50000 10/01/2047 US 85,846.18 $84,543.42
31418CRE6 FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 53,047.82 $54,759.42
31418MGR7 FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 US 31,077.68 $34,239.79
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 19,447.48 $20,975.66
31428X106 FEDEX CORPORATION US FDX 2,773.89 $667,925.25
3174300 BURBERRY GROUP PLC GB BRBY LN 490.92 $12,891.34
32054K103 FIRST INDUSTRIAL REALTY TR US FR 265.66 $8,341.79
3208986 NEXT PLC GB NXT LN 90.68 $6,489.53
336130AB5 FIRST QUALITY FINANCE CO 5.00000 07/01/2025 US 11,802.59 $11,035.42
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 16,368.49 $16,253.09
35671D857 FREEPORT-MCMORAN INC US FCX 24,515.94 $341,261.88
35802XAD5 FRESENIUS MED CARE II 5.62500 07/31/2019 US 5,670.98 $5,783.10
36143WAN1 GAHR 2015-NRF BFX FLT 3.49490 12/15/2034 US 79,967.6 $79,865.49
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 17,408.87 $17,025.32
37045VAR1 GENERAL MOTORS CO FLT 3.22706 09/10/2021 US 153,089.97 $153,032.26
371559105 GENESEE & WYOMING INC -CL A US GWR 5,452.47 $496,119.93
37185LAF9 GENESIS ENERGY LP/GENESI 5.62500 06/15/2024 US 13,377.86 $12,642.08
374297109 GETTY REALTY CORP US GTY 294.06 $8,398.39
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 23,605.18 $23,487.16
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 69,354.77 $65,325.22
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 20,066.79 $19,565.12
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 165.92 $18,115.55
404121AH8 HCA INC 5.37500 09/01/2026 US 15,660.81 $15,817.42
40414L109 HCP INC US HCP 561.53 $14,779.38
4057808 L'OREAL FR OR FP 55.89 $13,473.46
4061412 LVMH MOET HENNESSY LOUIS VUITTON FR MC FP 21.09 $7,454.11
4163437 CAP GEMINI FR CAP FP 54.31 $6,837.63
421946104 HEALTHCARE REALTY TRUST INC US HR 362.37 $10,602.82
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 387.93 $10,346.20
4354350 FUCHS PETROLUB SE - PREF DE FPE3 GR 123.03 $6,865.28
44107P104 HOST MARRIOTT CORP US HST 961.1 $20,279.28
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 29,038.67 $28,312.71
4457624 TRIGANO SA FR TRI FP 199.69 $21,838.93
4497749 KBC GROEP NV BE KBC BB 182.45 $13,566.84
45031UCD1 ISTAR INC 5.25000 09/15/2022 US 14,368.61 $14,153.08
45337C102 INCYTE CORP US INCY 22,792.19 $1,574,484.19
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 674.53 $7,102.81
45763PAE6 INMARSAT FINANCE PLC 4.87500 05/15/2022 GB 37,796.95 $37,607.96
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 1,266.52 $94,849.51
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 157,231.26 $160,289.43
46120E602 INTUITIVE SURGICAL INC US ISRG 808.11 $463,857.40
46187BAA1 IHSFR 2017-SFR2 A 3.00844 12/17/2036 US 23,223.27 $23,281.28
46187BAB9 IHSFR 2017-SFR2 B 3.30844 12/17/2036 US 16,984.27 $17,026.30
46187W107 INVITATION HOMES INC US INVH 812.11 $18,605.48
464287739 ISHARES DJ US REAL ESTATE US 224.82 $17,990.17
46625HHL7 JPMORGAN CHASE & CO 6.30000 04/23/2019 US 226,096.57 $230,572.88
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 17,633.11 $17,164.03
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 28,853.67 $28,419.74
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 57,595.81 $56,699.56
46649HAC6 JPMMT 2017-6 A3 3.50000 12/25/2048 US 52,393.27 $50,803.03
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 70,589.79 $69,632.52
4741844 MERCK KGAA DE MRK GR 3,561.71 $367,998.53
476405105 JERNIGAN CAPITAL INC US JCAP 376.93 $7,271.00
478160104 JOHNSON & JOHNSON US JNJ 6,010.74 $830,504.61
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 49,202.14 $37,639.64
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BD6G507 FERRARI NV IT RACE IM 54.31 $7,459.96
BD6K457 COMPASS GROUP PLC GB CPG LN 317.28 $7,054.27
BD82246 EAGLE BULK SHIPCO 8.25000 11/28/2022 MH 28,307.11 $28,944.02
BDQZ7T7 WISDOM EDUCATION INTERNATION CN 6068 HK 16,875.44 $8,876.92
BDZV116 EPIROC AB-A SE EPIA SS 2,051.65 $22,923.36
BF2DSG3 SIKA AG-REG CH SIKA SW 26.78 $3,896.96
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 91,317.95 $85,838.87
BFYFZP5 FERGUSON PLC CH FERG LN 82.41 $6,990.15
BFYM460 UNIBAIL-RODAMCO-WESTFIELD FR URW NA 147.25 $29,662.67
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 4,948.22 $8,158.08
BGLP232 MONCLER SPA IT MONC IM 303.2 $13,045.76
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 28,682.81 $22,397.63
BHC8X90 NOVO NORDISK A/S-B DK NOVOB DC 137.27 $6,460.76
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 22,486.03 $918,123.26
BNBNSG0 EURONEXT NV NL ENX FP 323.97 $21,286.60
BNGN9Z1 FINECOBANK SPA IT FBK IM 27,509.64 $366,838.07
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 16,470.42 $497,596.60
BQRRZ00 RECRUIT HOLDINGS CO LTD JP 6098 JP 376.23 $12,566.54
BVSS790 ELIS SA FR ELIS FP 1,119.67 $26,361.89
BYQ32R1 NEMAK SAB DE CV MX 16,998.74 $12,807.64
BYWPGC4 CHINA YUHUA EDUCATION CORP L CN 6169 HK 27,769.63 $13,380.57
BYXS699 QIAGEN N.V. NL QIA GR 408.21 $15,460.02
BYY8LS2 MAISONS DU MONDE SA FR MDM FP 511.79 $14,926.90
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 9,364.37 $819,715.08
BYZ43T4 EUROBANK ERGASIAS SA GR EUROB GA 14,909.13 $11,255.67
BYZFYS3 SPIE SA FR SPIE FP 1,337.53 $26,636.97
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 304.51 $20,640.73
BZ01RF1 WILLIAM DEMANT HOLDING DK WDH DC 353.26 $13,260.87
BZ3C3Q4 BANKIA SA ES BKIA SM 58,648.85 $228,948.20
BZCNN35 BANCO COMERCIAL PORTUGUES-R PT BCP PL 43,327.5 $12,827.92
G02602103 AMDOCS LTD GG DOX 6,761.71 $446,137.48
G0750C108 AXALTA COATING SYSTEMS LTD US AXTA 10,404.66 $303,400.00
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 233.38 $12,103.33
G27358103 DESPEGAR.COM CORP AR DESP 355 $5,988.79
G3157S106 ENSCO INTERNATIONAL INC US ESV 47,921.32 $404,455.93
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 22,897.5 $23,813.40
G5960L103 MEDTRONIC INC IE MDT 12,021.98 $1,182,602.04
G97822103 PERRIGO CO PLC IE PRGO 5,859.17 $414,829.46
H8817H100 TRANSOCEAN LTD US RIG 31,507.23 $439,525.81
M22465104 CHECK POINT SOFTWARE TECH IL CHKP 109.33 $12,864.83
N22717107 CORE LABORATORIES N.V. NL CLB 120.74 $13,985.83
N47279109 INTERXION HOLDING NV NL INXN 5,829.02 $392,293.37
N59465109 MYLAN NV US MYL 4,081.53 $149,383.88
N72482123 QIAGEN N.V. ADR NL QGEN 8,529.12 $323,083.25
USD US DOLLAR US 549,901.53 $549,901.53

Based on the investments of the underlying fund(s): Manning & Napier Fund, Inc. Pro-Blend® Maximum Term Series and Manning & Napier Fund, Inc. Pro-Blend® Extended Term Series through 10/15/2017, and Manning & Napier Fund, Inc. Blended Asset Maximum Series and Manning & Napier Fund, Inc. Blended Asset Extended 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 2040 Series Class I Distribution History
  • 2018 Distribution Calendar
  • Fourth Quarter 2017 Distributions
  • Third Quarter 2018 Distributions
  • Second Quarter 2018 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).

Daily Price

$10.16

Daily $ Change

-$0.12

Daily % Change

-1.18%

as of 10/18/2018

Ticker

MTTIX

CUSIP

56382P609

Inception Date

03/28/2008

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
Blended Asset 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.

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 moderately aggressive, growth-oriented mix of securities that seeks to earn the long-term growth typically associated with the stock market without full market risk. The portfolio is diversified primarily among various stock investments in both domestic and foreign markets, with a portion of the portfolio invested in fixed income securities. Stock exposure can range from 58% - 87%.

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 2040
  • Who have time to pursue growth and can accept significant fluctuations in current account value
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time

About Target Date Funds

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

Target Series Glide Path Overview

Learn more about our Glide Range SM

Performance

As of 09/30/2018

YTD

5.50%

1 Year

9.68%

3 Year

11.56%

5 Year

7.39%

10 Year

8.03%

Inception
(03/28/2008)

6.97%

Market Cycle

---

Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. 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 0.93%
Net 0.76%*

*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 09/30/2018

TREASURY NOTES 10.03%
TREASURY BONDS 2.67%
GOVERNMENT AGENCY 2.50%
INCYTE CORP 2.09%
BOOKING HOLDINGS INC 1.83%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 1.81%
LULULEMON - ADR 1.79%
MASTERCARD INC-CLASS A 1.79%
QORVO INC 1.70%
VISA INC - CLASS A SHARES 1.59%

Top Ten Investments list is unaudited and excludes cash

Asset Allocation

As of 09/30/2018

Stocks
71.06%
Bonds
28.21%
Cash
0.73%

Detailed Asset Class Allocation

As of 09/30/2018

International Equities
24.64%
Small Capitalization
1.16%
Mid Capitalization
7.24%
Large Capitalization
38.02%
Long Term Fixed Income
7.07%
Intermediate Term Fixed Income
16.32%
Short Term Fixed Income
4.82%
Cash
0.73%

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

September Fund Holdings

As of 09/30/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAM8 ADT CORP 5.25000 03/15/2020 US 10,387.24 $10,543.04
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 154,505.33 $152,509.49
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 87,893.59 $86,591.00
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 28,873.26 $29,450.72
004239109 ACADIA REALTY TRUST US AKR 223.63 $6,268.45
0045614 ANTOFAGASTA PLC GB ANTO LN 12,564.15 $139,618.11
0053673 ASHTEAD GROUP PLC GB AHT LN 448.41 $14,227.48
00724F101 ADOBE SYS INC US ADBE 1,526.44 $412,061.78
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 153,089.97 $151,477.30
00790X101 ADVANCED DISPOSAL SERVICES US ADSW 15,519.57 $420,269.91
0081180 BARRATT DEVELOPMENTS PLC GB BDEV LN 882.19 $6,515.00
008492100 AGREE REALTY CORP US ADC 101.43 $5,387.93
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 7,396.61 $7,628.88
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 41.55 $5,226.44
01609W102 ALIBABA GROUP - ADR CN BABA 5,431.08 $894,824.96
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 247,966.56 $231,128.28
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 12,747.75 $12,875.23
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 11,802.59 $11,802.59
02079K107 ALPHABET INC-CL C US GOOG 454.88 $542,883.76
02079K305 ALPHABET INC-CL A US GOOGL 470.63 $568,089.43
02209S103 ALTRIA GROUP INC US MO 5,274.01 $318,075.35
023135106 AMAZON.COM INC US AMZN 340.46 $681,939.23
02319V103 AMBEV SA-ADR BR ABEV 163,344.49 $746,484.32
0237400 DIAGEO PLC GB DGE LN 18,366.08 $650,678.72
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 248.97 $10,247.76
0263494 BAE SYSTEMS PLC GB BA/ LN 2,849.7 $23,367.56
02665T306 AMERICAN HOMES 4 RENT- A US AMH 932.77 $20,418.39
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 160,486.58 $153,535.30
02753GAA7 AMERICAN MIDSTREAM PTR/F 9.50000 12/15/2021 US 17,076.17 $17,076.17
03027X100 AMERICAN TOWER REIT INC US AMT 4,367.51 $634,599.76
03064D108 AMERICOLD REALTY TRUST US COLD 177.84 $4,449.52
03748R101 APARTMENT INVT & MGMT CO -A US AIV 359.28 $15,855.17
03784Y200 APPLE HOSPITALITY REIT INC US APLE 470.16 $8,223.18
03969AAL4 ARDAGH PKG FIN/HLDGS USA 6.00000 02/15/2025 IE 28,307.11 $27,705.59
0405207 HALMA PLC GB HLMA LN 753.41 $14,184.49
0490656 KERRY GROUP PLC-A IE KYGA LN 248.73 $27,448.79
053332102 AUTOZONE INC US AZO 795.51 $617,078.48
053484101 AVALONBAY COMMUNITIES INC US AVB 220.64 $39,969.45
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 125,825.12 $120,861.19
058498106 BALL CORP US BLL 19,576.2 $861,156.88
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 234,908.53 $231,822.36
0822011 DS SMITH PLC GB SMDS LN 3,106.6 $19,350.78
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 7,583 $735,323.12
09062X103 BIOGEN IDEC INC US BIIB 962.58 $340,089.45
0922320 SMITH & NEPHEW PLC GB SN/ LN 708.01 $12,917.40
09247X101 BLACKROCK INC US BLK 1,848.66 $871,329.35
0946580 WEIR GROUP PLC/THE GB WEIR LN 1,691.29 $38,801.59
09627J102 BLUEROCK RESIDENTIAL GROWTH US 448.13 $4,391.72
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 217,284.6 $229,948.49
09857L108 BOOKING HOLDINGS INC US BKNG 691.73 $1,372,391.96
101121101 BOSTON PROPERTIES INC US BXP 246.3 $30,317.44
105368203 BRANDYWINE REALTY TRUST US BDN 1,260.53 $19,815.53
110122108 BRISTOL MYERS SQUIBB CO US BMY 5,730.21 $355,731.28
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 507.34 $23,657.19
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 11,962.51 $11,842.88
1248EPBR3 CCO HLDGS LLC/CAP CORP 5.50000 05/01/2026 US 17,076.17 $16,884.06
12503M108 CBOE GLOBAL MARKETS INC US CBOE 994 $95,383.85
125269100 CF INDUSTRIES HOLDINGS INC US CF 13,847.08 $753,835.27
12572Q105 CME GROUP INC US CME 565.52 $96,257.54
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 153,089.97 $153,288.99
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 23,984.2 $23,444.56
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 31,551.58 $29,186.59
12648TAA7 CSMC 2014-IVR3 A1 3.50000 07/25/2044 US 57,283.08 $56,081.45
13321L108 CAMECO CORP CA CCJ 1,186.69 $13,528.31
134429109 CAMPBELL SOUP CO US CPB 9,394.92 $344,135.74
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 661.79 $7,564.29
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 64,756.39 $64,587.97
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 48,964.65 $45,551.82
15672WAJ3 CEQUEL COM HLDG I/CAP CP 7.50000 04/01/2028 US 28,307.11 $29,687.09
16411QAB7 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 16,368.49 $16,388.62
165183AA2 CFII 2016-1A A1 2.11000 03/15/2028 US 11,434.32 $11,404.44
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 107,870.95 $106,852.80
165183BB9 CFII 2017-4A A1 2.12000 11/15/2029 US 67,775.6 $66,965.85
165240102 CHESAPEAKE LODGING TRUST US CHSP 242.13 $7,764.95
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 161,901.93 $233,699.85
191216100 COCA COLA CO/THE US KO 12,372.18 $571,470.86
194162103 COLGATE-PALMOLIVE CO US CL 4,481.65 $300,046.17
19626G108 COLONY CAPITAL INC US CLNY 1,073.4 $6,537.00
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 316.89 $9,817.27
2162760 CAE INC CA CAE CN 325.87 $6,614.96
2171573 CANADIAN NATURAL RESOURCES CA CNQ CN 593.81 $19,400.76
2180632 CANADIAN NATL RAILWAY CO CA CNR CN 76.82 $6,893.13
21871N101 CORECIVIC INC US CXW 634.33 $15,433.23
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 97,707.3 $108,102.34
222795106 COUSINS PROPERTIES INC US CUZ 2,198.12 $19,541.29
22530LAA4 CAALT 2017-1A A 2.56000 10/15/2025 US 63,832.54 $63,524.64
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 14,085.54 $13,761.57
22822V101 CROWN CASTLE INTL CORP US CCI 132.59 $14,761.38
228368106 CROWN HOLDINGS INC US CCK 3,555.39 $170,658.54
229663109 CUBESMART US CUBE 268.49 $7,660.10
23311RAD8 DCP MIDSTREAM OPERATING 5.35000 03/15/2020 US 10,387.24 $10,620.95
23331A109 DR HORTON INC US DHI 54.77 $2,310.07
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 9,886.49 $112,592.65
23918K108 DAVITA INC. US DVA 7,831.89 $560,998.39
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 18,651.44 $17,788.81
2392471 GRUPO BIMBO SAB- SERIES A MX BIMBOA MM 3,359.52 $7,148.45
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 5,858.91 $20,058.80
2491914 KIMBERLY CLARK DE MEXICO S.A.B. MX 7,740.52 $13,732.25
25271C102 DIAMOND OFFSHORE DRILLING US DO 13,957.9 $279,158.03
253393102 DICK'S SPORTING GOODS INC US DKS 11,660.15 $413,702.29
253868103 DIGITAL REALTY TRUST INC US DLR 262.03 $29,473.34
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 154,505.33 $151,065.50
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 28,307.11 $28,660.95
2639349 GRUPO AEROPORT DEL SURESTE-B MX 637.17 $13,019.81
2643674 GRUPO MEXICO SAB DE CV-SER MX GMEXICOB MM 2,052.82 $5,908.13
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 19,861.29 $19,960.60
269246401 ETRADE FINANCIAL CORP US ETFC 11,015.18 $577,085.49
2715777 QUEBECOR INC -CL B CA QBR/B CN 19,199.29 $384,981.60
277276101 EASTGROUP PROPERTIES US EGP 45.25 $4,326.54
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 20,513.72 $399,744.69
285512109 ELECTRONIC ARTS US EA 5,755.98 $693,538.12
2866857 LUNDIN MINING CORP CA LUN CN 38,260.55 $202,610.72
29372EBS6 EFF 2016-2 A2 1.74000 02/22/2022 US 10,729.76 $10,693.88
294429105 EQUIFAX INC US EFX 2,766.37 $361,205.13
29444U700 EQUINIX INC US EQIX 1,279.68 $553,958.75
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 110.4 $10,648.21
29476L107 EQUITY RESIDENTIAL US EQR 450.9 $29,876.45
297178105 ESSEX PROPERTY TRUST INC US ESS 50.36 $12,424.54
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 70,767.78 $69,462.83
30225T102 EXTRA SPACE STORAGE INC US EXR 118.67 $10,281.18
30261UAJ3 FREMF 2013-K713 B 3.26256 04/25/2046 US 70,767.78 $70,550.33
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 19,359.11 $19,746.30
30287EAE0 FREMF 2014-K41 B FLT 3.96247 11/25/2047 US 68,644.75 $67,494.12
30291EAE4 FREMF 2013-K712 B FLT 3.47300 05/25/2045 US 40,054.57 $40,046.97
30291XAE2 FREMF 2014-K715 B FLT 4.11905 02/25/2046 US 66,663.25 $67,441.39
30292HAU0 FREMF 2014- K503 B 3.08905 10/25/2047 US 70,767.78 $70,592.11
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 26,831.63 $28,907.47
3128M6NS3 FHLM POOL G04601 5.50000 07/01/2038 US 28,946.07 $31,132.99
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 58,904.13 $61,065.98
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 23,072 $23,945.32
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 21,333.05 $22,288.78
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 24,879.32 $25,816.59
3132QQFU1 FHLM POOL Q33778 4.00000 06/01/2045 US 35,265.27 $35,700.36
3132XYDL8 FHLM POOL Q55506 4.50000 04/01/2048 US 109,794.08 $113,391.64
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 43,292.35 $42,848.95
3137AME78 FHMS K017 X1 FLT 1.48234 12/25/2021 US 862,474.79 $29,773.92
3137ATSC7 FEDERAL NATL MTG ASSN KP01 A2 1.72000 01/25/2019 US 1,088.27 $1,085.82
3137F4YU0 FHLM POOL FHR4791 4.00000 03/15/2044 US 55,213.25 $56,041.16
3137FG2L8 FHLM POOL 4801 4.50000 05/15/2044 US 57,236.71 $58,987.52
3138EGHT4 FEDERAL NATL MTG ASSN AL0241 4.00000 04/01/2041 US 41,607.78 $42,332.20
3138EHR87 FEDERAL NATL MTG ASSN AL1410 4.50000 12/01/2041 US 66,235.12 $68,872.90
3138EHXZ0 FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 15,684.85 $17,171.64
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 35,404.53 $36,020.47
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65400 01/01/2049 US 74,388.09 $79,272.05
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 39,606.99 $41,213.45
3140EX2Y8 FEDERAL NATL MTG ASSN BC3490 3.50000 02/01/2046 US 89,577.11 $88,532.65
3140FPGW3 FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 US 49,200.93 $49,718.98
3140FPGZ6 FEDERAL NATL MTG ASSN BE3815 4.00000 12/01/2046 US 47,486.67 $47,986.67
3140H2PH5 FEDERAL NATL MATG ASSN FN BJ1323 3.50000 11/01/2047 US 143,291.5 $141,287.31
3140HPMQ7 FEDERAL NATIONAL MTGE FN BK9366 4.50000 08/01/2048 US 35,341.76 $36,491.56
3140J8YU1 FEDERAL NATL MTGE ASSN FN BM4322 4.00000 07/01/2048 US 143,204.63 $144,995.18
3140Q7HT7 FEDERAL NATL MTG ASSN FN CA0241 4.00000 08/01/2047 US 115,671.14 $116,937.12
3140Q9D42 FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 US 81,033.56 $85,182.59
3140Q9PD9 FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 US 64,043.51 $67,319.41
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 5,627.28 $5,734.44
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 6,796.8 $6,922.58
31410HAQ4 MACYS RETAIL HLDGS INC 6.90000 04/01/2029 US 73,006.6 $77,261.31
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 25,201.17 $26,244.20
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 38,134.06 $39,537.60
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 46,750.71 $44,785.63
31418CQA5 FEDERAL NATL MTGE ASSN FN MA3148 3.50000 10/01/2047 US 85,846.18 $84,543.42
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83405DAB4 SOFI 2017-C A2A 1.75000 07/25/2040 US 122,207.94 $121,158.46
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883556102 THERMO FISHER SCIENTIFIC INC US TMO 1,038.1 $253,380.30
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89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 42,460.67 $40,617.08
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903002103 UMH PROPERTIES INC US UMH 377.32 $5,901.27
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912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 605,180.08 $743,236.78
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912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 600,029.78 $577,903.69
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912828D23 US TREASURY N/B 1.62500 04/30/2019 US 1,014,294.88 $1,009,461.14
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912828S92 US TREASURY N/B 1.25000 07/31/2023 US 382,146.03 $353,082.04
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912828WZ9 UNITED STATES TREAS NTS 1.75000 04/30/2022 US 594,449.39 $571,019.72
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 1,047,478.9 $994,491.19
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 297,224.69 $281,423.02
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92532F100 VERTEX PHARMACEUTICALS INC US VRTX 1,774.44 $342,005.45
92826C839 VISA INC - CLASS A SHARES US V 7,966.77 $1,195,733.17
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95040Q104 WELLTOWER INC. US WELL 189.64 $12,197.71
962166104 WEYERHAEUSER CO US WY 236.62 $7,635.84
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 13,377.86 $13,444.75
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 16,368.49 $16,245.72
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 120,992.65 $115,174.60
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 20,760.49 $20,743.58
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 24,207.41 $23,627.68
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 23,352.61 $810,802.49
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 28,307.11 $27,953.27
B0190C7 TECHTRONIC INDUSTRIES CO LTD HK 669 HK 1,054.72 $6,727.70
B02J639 ADMIRAL GROUP PLC GB ADM LN 260.53 $7,062.24
B037JC2 NEXITY FR NXI FP 225.12 $12,442.25
B0386J1 JYSKE BANK-REG DK JYSK DC 262.42 $12,706.98
B05LZ02 HAKUHODO DY HOLDINGS INC JP 2433 JP 362.07 $6,359.23
B06JSP1 SYDBANK A/S DK SYDB DC 388.37 $11,418.03
B09DHL9 MTU AERO ENGINES HOLDING AG DE MTX GR 33.22 $7,483.02
B09M9D2 KONE OYJ-B FI KNEBV FH 250.46 $13,369.28
B0JDQD4 BANDAI NAMCO HOLDINGS INC JP 7832 JP 316.41 $12,292.98
B0ZV104 GRUPO AEROPORT DEL PACIFIC-B MX GAPB MM 283.55 $3,102.16
B11TCY0 SCHINDLER HOLDING-PART CERT CH SCHP SW 52.03 $12,983.95
B138HB7 KAUFMAN & BROAD SA FR KOF FP 389.47 $18,277.06
B13X013 EIFFAGE FR FGR FP 228.5 $25,525.55
B15C557 TOTAL SA FR FP FP 506.74 $32,948.79
B19NLV4 EXPERIAN PLC GB EXPN LN 272.97 $7,004.48
B1CRLC4 MONDI PLC GB MNDI LN 250.14 $6,848.83
B1FW751 GALP ENERGIA SGPS SA PT GALP PL 2,009.58 $39,845.52
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 1,602.62 $11,454.03
B1WGG93 GEBERIT AG-REG CH GEBN SW 41.48 $19,253.03
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 350.34 $20,511.21
B1XH026 VINCI SA FR DG FP 4,818.8 $458,459.71
B1Y9TB3 DANONE FR BN FP 356.48 $27,703.90
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 3,022.61 $14,429.43
B232R05 SK INNOVATION CO LTD KR 096770 KS 77.69 $15,059.09
B249GC0 MATSUMOTOKIYOSHI HOLDINGS CO JP 3088 JP 316.41 $12,975.61
B283W97 CAIXABANK S.A ES CABK SM 72,825.1 $331,202.66
B296BQ5 STORAGEVAULT CANADA INC CA SVI CN 1,426.27 $2,926.19
B3FF8W8 HOSHIZAKI CORP JP 6465 JP 59.81 $6,190.87
B3FP8W8 CANADA HOUSING TRUST 4.10000 12/15/2018 CA 12,172.06 $9,468.04
B3MSM28 AMADEUS IT HOLDING SA-A SHS ES AMS SM 79.26 $7,346.85
B3NB1P2 SUNCOR ENERGY INC CA SU CN 460.95 $17,836.24
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 125,683.58 $6,511.05
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 14,436.63 $11,356.50
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 204,235.82 $10,473.39
B4Q2TX3 CHINA LONGYUAN POWER GROUP-H CN 916 HK 32,162.01 $27,083.35
B4R2R50 JULIUS BAER CH BAER SW 6,784.57 $339,066.73
B4WTBY3 HUANENG RENEWABLES CORP-H CN 958 HK 83,500.78 $24,898.79
B4YN9R2 SINGAPORE GOVERNMENT 2.50000 06/01/2019 SG 26,608.69 $19,552.10
B4YVF56 BRENNTAG AG DE BNR GR 189.62 $11,694.19
B607XS1 VERMILION ENERGY INC CA VET CN 688.42 $22,683.49
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 295,384.73 $15,835.77
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 2,171.85 $27,412.96
B63QM77 NEXON CO LTD JP 3659 JP 2,386.12 $31,190.17
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 39,346.89 $2,057.23
B798FW0 NOVOZYMES A/S-B SHARES DK NZYMB DC 128.85 $7,067.16
B7VQL46 FNAC DARTY SA FR FNAC FP 227.02 $17,901.38
B8FMRX8 COLOPLAST-B DK COLOB DC 128.14 $13,090.31
BB22L96 KION GROUP AG DE KGX GR 309.89 $19,027.28
BBG00LNRP8L0 AMZN US 09/28/18 P1825 US -.42 -$0.42
BBG00LRS8WH5 QRVO US 10/19/18 P70 US -14.01 -$476.41
BBG00LXHFRM9 SCHW US 10/26/18 C51.5 US -14.15 -$1,075.67
BD3JR69 CHINA MAPLE LEAF EDUCATIONAL CN 1317 HK 18,701.8 $9,818.85
BD6G507 FERRARI NV IT RACE IM 54.31 $7,459.96
BD6K457 COMPASS GROUP PLC GB CPG LN 317.28 $7,054.27
BD82246 EAGLE BULK SHIPCO 8.25000 11/28/2022 MH 28,307.11 $28,944.02
BDQZ7T7 WISDOM EDUCATION INTERNATION CN 6068 HK 16,875.44 $8,876.92
BDZV116 EPIROC AB-A SE EPIA SS 2,051.65 $22,923.36
BF2DSG3 SIKA AG-REG CH SIKA SW 26.78 $3,896.96
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 91,317.95 $85,838.87
BFYFZP5 FERGUSON PLC CH FERG LN 82.41 $6,990.15
BFYM460 UNIBAIL-RODAMCO-WESTFIELD FR URW NA 147.25 $29,662.67
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 4,948.22 $8,158.08
BGLP232 MONCLER SPA IT MONC IM 303.2 $13,045.76
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 28,682.81 $22,397.63
BHC8X90 NOVO NORDISK A/S-B DK NOVOB DC 137.27 $6,460.76
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 22,486.03 $918,123.26
BNBNSG0 EURONEXT NV NL ENX FP 323.97 $21,286.60
BNGN9Z1 FINECOBANK SPA IT FBK IM 27,509.64 $366,838.07
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 16,470.42 $497,596.60
BQRRZ00 RECRUIT HOLDINGS CO LTD JP 6098 JP 376.23 $12,566.54
BVSS790 ELIS SA FR ELIS FP 1,119.67 $26,361.89
BYQ32R1 NEMAK SAB DE CV MX 16,998.74 $12,807.64
BYWPGC4 CHINA YUHUA EDUCATION CORP L CN 6169 HK 27,769.63 $13,380.57
BYXS699 QIAGEN N.V. NL QIA GR 408.21 $15,460.02
BYY8LS2 MAISONS DU MONDE SA FR MDM FP 511.79 $14,926.90
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 9,364.37 $819,715.08
BYZ43T4 EUROBANK ERGASIAS SA GR EUROB GA 14,909.13 $11,255.67
BYZFYS3 SPIE SA FR SPIE FP 1,337.53 $26,636.97
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 304.51 $20,640.73
BZ01RF1 WILLIAM DEMANT HOLDING DK WDH DC 353.26 $13,260.87
BZ3C3Q4 BANKIA SA ES BKIA SM 58,648.85 $228,948.20
BZCNN35 BANCO COMERCIAL PORTUGUES-R PT BCP PL 43,327.5 $12,827.92
G02602103 AMDOCS LTD GG DOX 6,761.71 $446,137.48
G0750C108 AXALTA COATING SYSTEMS LTD US AXTA 10,404.66 $303,400.00
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 233.38 $12,103.33
G27358103 DESPEGAR.COM CORP AR DESP 355 $5,988.79
G3157S106 ENSCO INTERNATIONAL INC US ESV 47,921.32 $404,455.93
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 22,897.5 $23,813.40
G5960L103 MEDTRONIC INC IE MDT 12,021.98 $1,182,602.04
G97822103 PERRIGO CO PLC IE PRGO 5,859.17 $414,829.46
H8817H100 TRANSOCEAN LTD US RIG 31,507.23 $439,525.81
M22465104 CHECK POINT SOFTWARE TECH IL CHKP 109.33 $12,864.83
N22717107 CORE LABORATORIES N.V. NL CLB 120.74 $13,985.83
N47279109 INTERXION HOLDING NV NL INXN 5,829.02 $392,293.37
N59465109 MYLAN NV US MYL 4,081.53 $149,383.88
N72482123 QIAGEN N.V. ADR NL QGEN 8,529.12 $323,083.25
USD US DOLLAR US 549,901.53 $549,901.53

Based on the investments of the underlying fund(s): Manning & Napier Fund, Inc. Pro-Blend® Maximum Term Series and Manning & Napier Fund, Inc. Pro-Blend® Extended Term Series through 10/15/2017, and Manning & Napier Fund, Inc. Blended Asset Maximum Series and Manning & Napier Fund, Inc. Blended Asset Extended 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 2040 Series Class I Distribution History
  • 2018 Distribution Calendar
  • Fourth Quarter 2017 Distributions
  • Third Quarter 2018 Distributions
  • Second Quarter 2018 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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