Collective Investment Trusts
Disciplined Value CIT
Investment Objective
To provide competitive returns consistent with the broad equity market while also providing a level of capital protection during market downturns.
Investment Strategy
This fund is designed to offer a diversified portfolio of dividend-paying U.S. equity securities. Using a systematic process with a focus on mid- to large-capitalization U.S. companies, securities are selected based on factors such as free cash flow generation and earnings power, minimum dividend yield, dividend sustainability, and financial health.
May be Appropriate for Investors
- Seeking to add diversification to their retirement portfolio by investing in high-quality, dividend-yielding securities
- Seeking exposure to U.S. companies with meaningful growth potential due to high free cash flow yields and earnings power
Daily Price
$20.28
Daily $ Change
$0.06
Daily % Change
0.30%
as of 03/26/2025
Ticker
MNDVUX
CUSIP
302028774
Inception Date
06/06/2017
This fund is only available for use within certain qualified employee benefit plans.
Important Documents
| Applications & Forms | |
| Annual Report |
YTD
5.41%
1 Year
12.53%
3 Year
7.74%
5 Year
11.43%
10 Year
9.55%
Inception
(10/01/2011)
12.24%
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.
Performance through the inception date of the Disciplined Value CIT Class U units is not the past performance of the Disciplined Value CIT Fund and is based on historical performance data for the Manning & Napier Disciplined Value – U.S. Composite, which is a weighted average of discretionary separately managed accounts, and may include proprietary mutual fund accounts, that are managed by Manning & Napier Advisors, LLC with a Disciplined Value – U.S. objective. Returns are net of the Class U expenses.
Expense Ratio
| Gross | 0.26% |
| Net | 0.25%* |
*Reflects the Trustee's contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.
| J P MORGAN CHASE AND CO | 4.12% |
| JOHNSON AND JOHNSON | 3.75% |
| CHEVRONTEXACO CORP | 3.43% |
| WELLS FARGO AND CO NEW | 3.41% |
| EXXON MOBIL CORP | 3.23% |
| RTX CORPORATION COM | 2.69% |
| CATERPILLAR INC DEL | 2.50% |
| GILEAD SCIENCES INC | 2.47% |
| CITIGROUP INC | 2.34% |
| DEERE AND CO | 2.22% |
This investment list is unaudited and excludes cash.
| Financials | 23.46% | |
| Industrials | 19.38% | |
| Energy | 17.02% | |
| Health Care | 16.73% | |
| Consumer Staples | 7.88% | |
| Materials | 5.49% | |
| Consumer Discretionary | 5.37% | |
| Information Technology | 3.89% | |
| Communication Services | 0.78% |
The Global Industry Classification Standard (GICS) was developed by and is the exclusive property and a service mark of MSCI Inc. (MSCI) and Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. (S&P) and is licensed for use by Manning & Napier when referencing GICS sectors. Nether MSCI, S&P nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification nor shall any such party have any liability therefrom.
| Security Description | Country | Ticker | Shares/Par | Market Value (USD) |
|---|---|---|---|---|
| 3M CO | US | MMM | 3,005 | $466,135.60 |
| ACCENTURE PLC IRELAND SHS CLASS A | US | ACN | 608 | $211,888.00 |
| ALLEGION PUB LTD CO | US | ALLE | 187 | $24,068.77 |
| ALLSTATE CORP | US | ALL | 1,217 | $242,365.55 |
| ANALOG DEVICES INC | US | ADI | 612 | $140,796.72 |
| ARCHER DANIELS MIDLAND CO | US | ADM | 2,663 | $125,693.60 |
| AVERY DENNISON CORP | US | AVY | 358 | $67,293.26 |
| BANK OF AMERICA CORPORATION | US | BAC | 11,856 | $546,561.60 |
| BAXTER INTL INC | US | BAX | 3,336 | $115,125.36 |
| BECTON DICKINSON AND CO | US | BDX | 1,593 | $359,269.29 |
| BERKLEY W R CORP | US | WRB | 2,908 | $183,436.64 |
| BEST BUY INC | US | BBY | 1,342 | $120,659.22 |
| BOOZ ALLEN HAMILTON HLDG COR | US | BAH | 280 | $29,696.80 |
| BRISTOL MYERS SQUIBB CO | US | BMY | 9,695 | $578,015.90 |
| BROADRIDGE FINL SOLUTIONS IN | US | BR | 227 | $54,756.94 |
| BROWN FORMAN CORP | US | BF B | 2,102 | $69,597.22 |
| BUNGE GLOBAL SA COM SHS | US | BG | 305 | $22,627.95 |
| CATERPILLAR INC DEL | US | CAT | 1,998 | $687,212.10 |
| CBOE GLOBAL MARKETS INC | US | CBOE | 227 | $47,851.60 |
| CDW CORP COM | US | CDW | 262 | $46,688.40 |
| CF INDS HLDGS INC | US | CF | 763 | $61,818.26 |
| CHEVRONTEXACO CORP | US | CVX | 5,936 | $941,568.32 |
| CHUBB LIMITED COM | US | CB | 944 | $269,493.12 |
| CINCINNATI FINL CORP | US | CINF | 1,234 | $182,397.54 |
| CISCO SYS INC | US | CSCO | 3,633 | $232,911.63 |
| CITIGROUP INC | US | C | 8,039 | $642,718.05 |
| CNH INDL N V | US | CNH | 2,808 | $36,167.04 |
| COGNIZANT TECHNOLOGY SOLUTIO | US | CTSH | 3,292 | $274,322.36 |
| COLGATE PALMOLIVE CO | US | CL | 2,170 | $197,838.90 |
| CONAGRA FOODS INC | US | CAG | 1,068 | $27,276.72 |
| CONOCOPHILLIPS | US | COP | 5,423 | $537,690.45 |
| COTERRA ENERGY INC COM | US | CTRA | 5,999 | $161,913.01 |
| CRH PLC ORD | US | CRH | 1,906 | $195,403.12 |
| CSX CORP | US | CSX | 8,056 | $257,872.56 |
| CUMMINS INC | US | CMI | 906 | $333,571.08 |
| DEERE AND CO | US | DE | 1,270 | $610,603.30 |
| DEVON ENERGY CORP NEW | US | DVN | 2,410 | $87,290.20 |
| DICKS SPORTING GOODS INC | US | DKS | 698 | $157,119.80 |
| EAST WEST BANCORP INC | US | EWBC | 325 | $30,689.75 |
| EBAY INC | US | EBAY | 3,640 | $235,653.60 |
| ELEVANCE HEALTH INC COM | US | ELV | 574 | $227,809.12 |
| EMERSON ELEC CO | US | EMR | 1,580 | $192,143.80 |
| EOG RES INC | US | EOG | 2,246 | $285,107.24 |
| EVEREST GROUP LTD COM | US | EG | 282 | $99,608.04 |
| EXPAND ENERGY CORPORATION COM | US | EXE | 285 | $28,180.80 |
| EXXON MOBIL CORP | US | XOM | 7,964 | $886,632.12 |
| FEDEX CORP | US | FDX | 985 | $258,956.50 |
| FERGUSON ENTERPRISES INC COM | US | FERG | 669 | $118,747.50 |
| FIFTH THIRD BANCORP | US | FITB | 4,829 | $209,916.63 |
| FOX CORP | US | FOXA | 954 | $54,950.40 |
| FREEPORT-MCMORAN COPPER AND GO | US | FCX | 2,110 | $77,880.10 |
| GENERAL MLS INC | US | GIS | 3,831 | $232,235.22 |
| GENUINE PARTS CO | US | GPC | 1,184 | $147,857.92 |
| GILEAD SCIENCES INC | US | GILD | 5,927 | $677,515.37 |
| HALLIBURTON CO | US | HAL | 6,219 | $163,995.03 |
| HARTFORD FINL SVCS GROUP INC | US | HIG | 2,033 | $240,463.24 |
| HERSHEY FOODS CORP | US | HSY | 1,400 | $241,794.00 |
| HESS CORP | US | HES | 969 | $144,322.86 |
| HF SINCLAIR CORPORATION COM | US | DINO | 440 | $15,518.80 |
| HOME DEPOT INC | US | HD | 644 | $255,410.40 |
| HONEYWELL INTL INC | US | HON | 1,452 | $309,116.28 |
| HUMANA INC | US | HUM | 439 | $118,714.38 |
| HUNTINGTON BANCSHARES INC | US | HBAN | 11,190 | $184,299.30 |
| HUNTINGTON INGALLS INDS INC | US | HII | 96 | $16,855.68 |
| INTERNATIONAL FLAVORSANDFRAGRA | US | IFF | 518 | $42,377.58 |
| INTERPUBLIC GROUP COS INC | US | IPG | 784 | $21,481.60 |
| INTL PAPER CO | US | IP | 734 | $41,360.90 |
| J P MORGAN CHASE AND CO | US | JPM | 4,275 | $1,131,378.75 |
| JOHNSON AND JOHNSON | US | JNJ | 6,238 | $1,029,394.76 |
| KENVUE INC COM | US | KVUE | 3,136 | $74,009.60 |
| KIMBERLY CLARK CORP | US | KMB | 1,562 | $221,819.62 |
| KRAFT HEINZ CO | US | KHC | 7,869 | $241,656.99 |
| KROGER CO | US | KR | 1,207 | $78,237.74 |
| LABCORP HOLDINGS INC COM SHS | US | LH | 356 | $89,370.24 |
| LAS VEGAS SANDS CORP | US | LVS | 2,712 | $121,253.52 |
| LENNAR CORP | US | LEN | 865 | $103,479.95 |
| LKQ CORP | US | LKQ | 576 | $24,301.44 |
| LOCKHEED MARTIN CORP | US | LMT | 1,086 | $489,101.82 |
| MARATHON PETROLEUM CORP | US | MPC | 1,990 | $298,858.20 |
| MASCO CORP | US | MAS | 1,343 | $100,966.74 |
| MEDTRONIC PLC SHS | US | MDT | 5,837 | $537,120.74 |
| MERCK N CO INC NEW | US | MRK | 2,204 | $203,319.00 |
| MICROCHIP TECHNOLOGY INC | US | MCHP | 1,577 | $92,822.22 |
| MOLSON COORS BREWING CO | US | TAP | 450 | $27,580.50 |
| MONDELEZ INTL INC | US | MDLZ | 5,098 | $327,444.54 |
| MOSAIC CO NEW COM | US | MOS | 807 | $19,303.44 |
| NEWMONT MINING CORP | US | NEM | 1,778 | $76,169.52 |
| NUCOR CORP | US | NUE | 1,239 | $170,325.33 |
| OCCIDENTAL PETE CORP DEL | US | OXY | 4,135 | $201,953.40 |
| OMNICOM GROUP INC | US | OMC | 1,657 | $137,133.32 |
| OVINTIV INC COM | US | OVV | 536 | $23,294.56 |
| OWENS CORNING | US | OC | 197 | $30,345.88 |
| PACCAR INC | US | PCAR | 2,211 | $237,107.64 |
| PENSKE AUTOMOTIVE GRP INC | US | PAG | 154 | $25,984.42 |
| PERMIAN RESOURCES CORP CLASS A COM | US | PR | 1,741 | $24,530.69 |
| PHILLIPS 66 | US | PSX | 2,358 | $305,809.02 |
| PNC FINL SVCS GROUP INC | US | PNC | 1,033 | $198,253.36 |
| PPG INDS INC | US | PPG | 1,645 | $186,246.90 |
| PROGRESSIVE CORP OHIO | US | PGR | 629 | $177,378.00 |
| QUEST DIAGNOSTICS INC | US | DGX | 761 | $131,576.90 |
| RALPH LAUREN CORP | US | RL | 150 | $40,671.00 |
| RB GLOBAL INC COM NPV | CA | RBA | 425 | $43,511.50 |
| REGIONS FINANCIAL CORP NEW | US | RF | 1,765 | $41,848.15 |
| RELIANCE INC COM | US | RS | 241 | $71,615.56 |
| ROCKWELL AUTOMATION INC | US | ROK | 207 | $59,440.05 |
| ROYALTY PHARMA PLC SHS CL A | US | RPRX | 1,152 | $38,753.28 |
| RTX CORPORATION COM | US | RTX | 5,558 | $739,158.42 |
| SCHLUMBERGER LTD | US | SLB | 7,708 | $321,115.28 |
| SKYWORKS SOLUTIONS INC | US | SWKS | 1,033 | $68,859.78 |
| SMITH A O | US | AOS | 307 | $20,409.36 |
| SMURFIT WESTROCK PLC SHS | US | SW | 3,550 | $184,848.50 |
| SNAP ON INC | US | SNA | 220 | $75,057.40 |
| SOUTHERN COPPER CORP | US | SCCO | 1,046 | $93,020.78 |
| SSNC TECHNOLOGIES HLDGS INC | US | SSNC | 1,529 | $136,157.45 |
| STEEL DYNAMICS INC | US | STLD | 958 | $129,397.06 |
| SYSCO CORP | US | SYY | 3,313 | $250,264.02 |
| TAPESTRY INC COM | US | TPR | 1,087 | $92,851.54 |
| THE CAMPBELLS COMPANY COM | US | CPB | 704 | $28,202.24 |
| TRAVELERS COMPANIES INC | US | TRV | 1,373 | $354,906.77 |
| TRUIST FINL CORP COM | US | TFC | 7,502 | $347,717.70 |
| UNITEDHEALTH GROUP INC | US | UNH | 982 | $466,410.72 |
| US BANCORP DEL COM | US | USB | 8,081 | $378,998.90 |
| US DOLLARS | US | USD | 301,138.94 | $301,138.94 |
| VALERO ENERGY CORP NEW | US | VLO | 1,916 | $250,478.68 |
| VIATRIS INC | US | VTRS | 2,631 | $24,284.13 |
| WELLS FARGO AND CO NEW | US | WFC | 11,979 | $938,195.28 |
| WESTLAKE CORPORATION COM | US | WLK | 817 | $91,749.10 |
| WILLIAMS SONOMA INC | US | WSM | 768 | $149,437.44 |
Investments will change over time.
A Word About Risk
All investments involve risks, including possible loss of principal. As with any stock fund, the value of your investment will fluctuate in response to stock market movements. Investing in the Fund will also involve a number of other risks, including issuer-specific risk and mid-cap risk. The Fund invests primarily in dividend-paying equity securities, with a focus on mid- to large- cap companies. There is no assurance or guarantee that such companies will declare, continue to pay, or increase dividends. Stocks of mid-cap companies tend to be more volatile than those of large-cap companies, as midcap companies tend to be more susceptible to adverse business or economic events than larger, more established companies. In addition, because the Advisor manages the Fund using a disciplined screening process, the Fund is subject to the additional risk that the investment approach may not be successful. Further, the Advisor does not intend to make frequent changes to the Fund’s portfolio in response to market movements.
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 more than 50 years of experience managing 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
$20.28
Daily $ Change
$0.06
Daily % Change
0.30%
as of 03/26/2025
Ticker
MNDVUX
CUSIP
302028774
Inception Date
06/06/2017
This fund is only available for use within certain qualified employee benefit plans.
Important Documents
| Applications & Forms | |
| Annual Report |
Investment Objective
To provide competitive returns consistent with the broad equity market while also providing a level of capital protection during market downturns.
Investment Strategy
This fund is designed to offer a diversified portfolio of dividend-paying U.S. equity securities. Using a systematic process with a focus on mid- to large-capitalization U.S. companies, securities are selected based on factors such as free cash flow generation and earnings power, minimum dividend yield, dividend sustainability, and financial health.
May be Appropriate for Investors
- Seeking to add diversification to their retirement portfolio by investing in high-quality, dividend-yielding securities
- Seeking exposure to U.S. companies with meaningful growth potential due to high free cash flow yields and earnings power
YTD
5.41%
1 Year
12.53%
3 Year
7.74%
5 Year
11.43%
10 Year
9.55%
Inception
(10/01/2011)
12.24%
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.
Performance through the inception date of the Disciplined Value CIT Class U units is not the past performance of the Disciplined Value CIT Fund and is based on historical performance data for the Manning & Napier Disciplined Value – U.S. Composite, which is a weighted average of discretionary separately managed accounts, and may include proprietary mutual fund accounts, that are managed by Manning & Napier Advisors, LLC with a Disciplined Value – U.S. objective. Returns are net of the Class U expenses.
Expense Ratio
| Gross | 0.26% |
| Net | 0.25%* |
*Reflects the Trustee's contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.
| J P MORGAN CHASE AND CO | 4.12% |
| JOHNSON AND JOHNSON | 3.75% |
| CHEVRONTEXACO CORP | 3.43% |
| WELLS FARGO AND CO NEW | 3.41% |
| EXXON MOBIL CORP | 3.23% |
| RTX CORPORATION COM | 2.69% |
| CATERPILLAR INC DEL | 2.50% |
| GILEAD SCIENCES INC | 2.47% |
| CITIGROUP INC | 2.34% |
| DEERE AND CO | 2.22% |
This investment list is unaudited and excludes cash.
| Financials | 23.46% | |
| Industrials | 19.38% | |
| Energy | 17.02% | |
| Health Care | 16.73% | |
| Consumer Staples | 7.88% | |
| Materials | 5.49% | |
| Consumer Discretionary | 5.37% | |
| Information Technology | 3.89% | |
| Communication Services | 0.78% |
The Global Industry Classification Standard (GICS) was developed by and is the exclusive property and a service mark of MSCI Inc. (MSCI) and Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. (S&P) and is licensed for use by Manning & Napier when referencing GICS sectors. Nether MSCI, S&P nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification nor shall any such party have any liability therefrom.
| Security Description | Country | Ticker | Shares/Par | Market Value (USD) |
|---|---|---|---|---|
| 3M CO | US | MMM | 3,005 | $466,135.60 |
| ACCENTURE PLC IRELAND SHS CLASS A | US | ACN | 608 | $211,888.00 |
| ALLEGION PUB LTD CO | US | ALLE | 187 | $24,068.77 |
| ALLSTATE CORP | US | ALL | 1,217 | $242,365.55 |
| ANALOG DEVICES INC | US | ADI | 612 | $140,796.72 |
| ARCHER DANIELS MIDLAND CO | US | ADM | 2,663 | $125,693.60 |
| AVERY DENNISON CORP | US | AVY | 358 | $67,293.26 |
| BANK OF AMERICA CORPORATION | US | BAC | 11,856 | $546,561.60 |
| BAXTER INTL INC | US | BAX | 3,336 | $115,125.36 |
| BECTON DICKINSON AND CO | US | BDX | 1,593 | $359,269.29 |
| BERKLEY W R CORP | US | WRB | 2,908 | $183,436.64 |
| BEST BUY INC | US | BBY | 1,342 | $120,659.22 |
| BOOZ ALLEN HAMILTON HLDG COR | US | BAH | 280 | $29,696.80 |
| BRISTOL MYERS SQUIBB CO | US | BMY | 9,695 | $578,015.90 |
| BROADRIDGE FINL SOLUTIONS IN | US | BR | 227 | $54,756.94 |
| BROWN FORMAN CORP | US | BF B | 2,102 | $69,597.22 |
| BUNGE GLOBAL SA COM SHS | US | BG | 305 | $22,627.95 |
| CATERPILLAR INC DEL | US | CAT | 1,998 | $687,212.10 |
| CBOE GLOBAL MARKETS INC | US | CBOE | 227 | $47,851.60 |
| CDW CORP COM | US | CDW | 262 | $46,688.40 |
| CF INDS HLDGS INC | US | CF | 763 | $61,818.26 |
| CHEVRONTEXACO CORP | US | CVX | 5,936 | $941,568.32 |
| CHUBB LIMITED COM | US | CB | 944 | $269,493.12 |
| CINCINNATI FINL CORP | US | CINF | 1,234 | $182,397.54 |
| CISCO SYS INC | US | CSCO | 3,633 | $232,911.63 |
| CITIGROUP INC | US | C | 8,039 | $642,718.05 |
| CNH INDL N V | US | CNH | 2,808 | $36,167.04 |
| COGNIZANT TECHNOLOGY SOLUTIO | US | CTSH | 3,292 | $274,322.36 |
| COLGATE PALMOLIVE CO | US | CL | 2,170 | $197,838.90 |
| CONAGRA FOODS INC | US | CAG | 1,068 | $27,276.72 |
| CONOCOPHILLIPS | US | COP | 5,423 | $537,690.45 |
| COTERRA ENERGY INC COM | US | CTRA | 5,999 | $161,913.01 |
| CRH PLC ORD | US | CRH | 1,906 | $195,403.12 |
| CSX CORP | US | CSX | 8,056 | $257,872.56 |
| CUMMINS INC | US | CMI | 906 | $333,571.08 |
| DEERE AND CO | US | DE | 1,270 | $610,603.30 |
| DEVON ENERGY CORP NEW | US | DVN | 2,410 | $87,290.20 |
| DICKS SPORTING GOODS INC | US | DKS | 698 | $157,119.80 |
| EAST WEST BANCORP INC | US | EWBC | 325 | $30,689.75 |
| EBAY INC | US | EBAY | 3,640 | $235,653.60 |
| ELEVANCE HEALTH INC COM | US | ELV | 574 | $227,809.12 |
| EMERSON ELEC CO | US | EMR | 1,580 | $192,143.80 |
| EOG RES INC | US | EOG | 2,246 | $285,107.24 |
| EVEREST GROUP LTD COM | US | EG | 282 | $99,608.04 |
| EXPAND ENERGY CORPORATION COM | US | EXE | 285 | $28,180.80 |
| EXXON MOBIL CORP | US | XOM | 7,964 | $886,632.12 |
| FEDEX CORP | US | FDX | 985 | $258,956.50 |
| FERGUSON ENTERPRISES INC COM | US | FERG | 669 | $118,747.50 |
| FIFTH THIRD BANCORP | US | FITB | 4,829 | $209,916.63 |
| FOX CORP | US | FOXA | 954 | $54,950.40 |
| FREEPORT-MCMORAN COPPER AND GO | US | FCX | 2,110 | $77,880.10 |
| GENERAL MLS INC | US | GIS | 3,831 | $232,235.22 |
| GENUINE PARTS CO | US | GPC | 1,184 | $147,857.92 |
| GILEAD SCIENCES INC | US | GILD | 5,927 | $677,515.37 |
| HALLIBURTON CO | US | HAL | 6,219 | $163,995.03 |
| HARTFORD FINL SVCS GROUP INC | US | HIG | 2,033 | $240,463.24 |
| HERSHEY FOODS CORP | US | HSY | 1,400 | $241,794.00 |
| HESS CORP | US | HES | 969 | $144,322.86 |
| HF SINCLAIR CORPORATION COM | US | DINO | 440 | $15,518.80 |
| HOME DEPOT INC | US | HD | 644 | $255,410.40 |
| HONEYWELL INTL INC | US | HON | 1,452 | $309,116.28 |
| HUMANA INC | US | HUM | 439 | $118,714.38 |
| HUNTINGTON BANCSHARES INC | US | HBAN | 11,190 | $184,299.30 |
| HUNTINGTON INGALLS INDS INC | US | HII | 96 | $16,855.68 |
| INTERNATIONAL FLAVORSANDFRAGRA | US | IFF | 518 | $42,377.58 |
| INTERPUBLIC GROUP COS INC | US | IPG | 784 | $21,481.60 |
| INTL PAPER CO | US | IP | 734 | $41,360.90 |
| J P MORGAN CHASE AND CO | US | JPM | 4,275 | $1,131,378.75 |
| JOHNSON AND JOHNSON | US | JNJ | 6,238 | $1,029,394.76 |
| KENVUE INC COM | US | KVUE | 3,136 | $74,009.60 |
| KIMBERLY CLARK CORP | US | KMB | 1,562 | $221,819.62 |
| KRAFT HEINZ CO | US | KHC | 7,869 | $241,656.99 |
| KROGER CO | US | KR | 1,207 | $78,237.74 |
| LABCORP HOLDINGS INC COM SHS | US | LH | 356 | $89,370.24 |
| LAS VEGAS SANDS CORP | US | LVS | 2,712 | $121,253.52 |
| LENNAR CORP | US | LEN | 865 | $103,479.95 |
| LKQ CORP | US | LKQ | 576 | $24,301.44 |
| LOCKHEED MARTIN CORP | US | LMT | 1,086 | $489,101.82 |
| MARATHON PETROLEUM CORP | US | MPC | 1,990 | $298,858.20 |
| MASCO CORP | US | MAS | 1,343 | $100,966.74 |
| MEDTRONIC PLC SHS | US | MDT | 5,837 | $537,120.74 |
| MERCK N CO INC NEW | US | MRK | 2,204 | $203,319.00 |
| MICROCHIP TECHNOLOGY INC | US | MCHP | 1,577 | $92,822.22 |
| MOLSON COORS BREWING CO | US | TAP | 450 | $27,580.50 |
| MONDELEZ INTL INC | US | MDLZ | 5,098 | $327,444.54 |
| MOSAIC CO NEW COM | US | MOS | 807 | $19,303.44 |
| NEWMONT MINING CORP | US | NEM | 1,778 | $76,169.52 |
| NUCOR CORP | US | NUE | 1,239 | $170,325.33 |
| OCCIDENTAL PETE CORP DEL | US | OXY | 4,135 | $201,953.40 |
| OMNICOM GROUP INC | US | OMC | 1,657 | $137,133.32 |
| OVINTIV INC COM | US | OVV | 536 | $23,294.56 |
| OWENS CORNING | US | OC | 197 | $30,345.88 |
| PACCAR INC | US | PCAR | 2,211 | $237,107.64 |
| PENSKE AUTOMOTIVE GRP INC | US | PAG | 154 | $25,984.42 |
| PERMIAN RESOURCES CORP CLASS A COM | US | PR | 1,741 | $24,530.69 |
| PHILLIPS 66 | US | PSX | 2,358 | $305,809.02 |
| PNC FINL SVCS GROUP INC | US | PNC | 1,033 | $198,253.36 |
| PPG INDS INC | US | PPG | 1,645 | $186,246.90 |
| PROGRESSIVE CORP OHIO | US | PGR | 629 | $177,378.00 |
| QUEST DIAGNOSTICS INC | US | DGX | 761 | $131,576.90 |
| RALPH LAUREN CORP | US | RL | 150 | $40,671.00 |
| RB GLOBAL INC COM NPV | CA | RBA | 425 | $43,511.50 |
| REGIONS FINANCIAL CORP NEW | US | RF | 1,765 | $41,848.15 |
| RELIANCE INC COM | US | RS | 241 | $71,615.56 |
| ROCKWELL AUTOMATION INC | US | ROK | 207 | $59,440.05 |
| ROYALTY PHARMA PLC SHS CL A | US | RPRX | 1,152 | $38,753.28 |
| RTX CORPORATION COM | US | RTX | 5,558 | $739,158.42 |
| SCHLUMBERGER LTD | US | SLB | 7,708 | $321,115.28 |
| SKYWORKS SOLUTIONS INC | US | SWKS | 1,033 | $68,859.78 |
| SMITH A O | US | AOS | 307 | $20,409.36 |
| SMURFIT WESTROCK PLC SHS | US | SW | 3,550 | $184,848.50 |
| SNAP ON INC | US | SNA | 220 | $75,057.40 |
| SOUTHERN COPPER CORP | US | SCCO | 1,046 | $93,020.78 |
| SSNC TECHNOLOGIES HLDGS INC | US | SSNC | 1,529 | $136,157.45 |
| STEEL DYNAMICS INC | US | STLD | 958 | $129,397.06 |
| SYSCO CORP | US | SYY | 3,313 | $250,264.02 |
| TAPESTRY INC COM | US | TPR | 1,087 | $92,851.54 |
| THE CAMPBELLS COMPANY COM | US | CPB | 704 | $28,202.24 |
| TRAVELERS COMPANIES INC | US | TRV | 1,373 | $354,906.77 |
| TRUIST FINL CORP COM | US | TFC | 7,502 | $347,717.70 |
| UNITEDHEALTH GROUP INC | US | UNH | 982 | $466,410.72 |
| US BANCORP DEL COM | US | USB | 8,081 | $378,998.90 |
| US DOLLARS | US | USD | 301,138.94 | $301,138.94 |
| VALERO ENERGY CORP NEW | US | VLO | 1,916 | $250,478.68 |
| VIATRIS INC | US | VTRS | 2,631 | $24,284.13 |
| WELLS FARGO AND CO NEW | US | WFC | 11,979 | $938,195.28 |
| WESTLAKE CORPORATION COM | US | WLK | 817 | $91,749.10 |
| WILLIAMS SONOMA INC | US | WSM | 768 | $149,437.44 |
Investments will change over time.
A Word About Risk
All investments involve risks, including possible loss of principal. As with any stock fund, the value of your investment will fluctuate in response to stock market movements. Investing in the Fund will also involve a number of other risks, including issuer-specific risk and mid-cap risk. The Fund invests primarily in dividend-paying equity securities, with a focus on mid- to large- cap companies. There is no assurance or guarantee that such companies will declare, continue to pay, or increase dividends. Stocks of mid-cap companies tend to be more volatile than those of large-cap companies, as midcap companies tend to be more susceptible to adverse business or economic events than larger, more established companies. In addition, because the Advisor manages the Fund using a disciplined screening process, the Fund is subject to the additional risk that the investment approach may not be successful. Further, the Advisor does not intend to make frequent changes to the Fund’s portfolio in response to market movements.
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 more than 50 years of experience managing 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.