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mnfi:C000069982Member 2024-01-01 2024-12-31 iso4217:USD pure false 485BPOS 0000751173 2026-02-27 N-1A MANNING & NAPIER FUND, INC. 2026-03-01 Equity Series Investment Goal The Series’ investment objective is to provide long-term growth of capital. Fees and Expenses This table describes the fees and expenses you may pay if you buy, hold, and sell shares of the Series. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below. <div id="xdx_A8B_eoef--ShareholderFeesTableTextBlock_zoLKv9wfjTKi"></div> <table id="xdx_A5E_dU_zToo8rrk5Ar8" style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 0pt; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 190.79pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> </tr> <tr style="min-height: 3pt"> <td style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> CLASS </td> <td style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> S </td> <td style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> W </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_98D_eoef--ShareholderFeesCaption_c20260227__20260227__dei--LegalEntityAxis__custom--S000003642Member_zxvds8obOgN3" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Shareholder Fees (fees paid directly from your investment) </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> </tr> </table> Shareholder Fees (fees paid directly from your investment) 0 0 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) <div id="xdx_A84_eoef--AnnualFundOperatingExpensesTableTextBlock_z3bImnk0yV19" style="-sec-ix-redline: true"></div> <table id="xdx_A51_dU_zsPuB45Sg778" style="-sec-ix-redline: true; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="display: none; visibility: hidden; min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_495_20260227__20260227__oef--ClassAxis__custom--C000010124Member_z1j4P6h8xaif" style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_49E_20260227__20260227__oef--ClassAxis__custom--C000206459Member_zduU4dZZZMF9" style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td></tr> <tr id="xdx_40A_eoef--ManagementFeesOverAssets_dpn_zVjjrjCL4kl" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 190.79pt"> Management Fees </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 61.19pt"> 0.75% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 61.19pt"> 0.75% </td> </tr> <tr id="xdx_40A_eoef--DistributionAndService12b1FeesOverAssets_dpn_z5vkpWKXnvue" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Distribution and Service (12b-1) Fees </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> </tr> <tr id="xdx_406_eoef--OtherExpensesOverAssets_dpn_zbZJyZim7cG8" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Other Expenses </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.57% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.32% </td> </tr> <tr id="xdx_40E_eoef--Component1OtherExpensesOverAssets_dpn_zE3o70nNIpV7" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Shareholder Services Fee </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.25% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> </tr> <tr id="xdx_40D_eoef--Component2OtherExpensesOverAssets_dpn_z9yVIo6h5rW3" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Remainder of Other Expenses </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.32% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.32% </td> </tr> <tr id="xdx_407_eoef--ExpensesOverAssets_dpn_zjMX00TUWpOb" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Total Annual Fund Operating Expenses </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 1.32% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 1.07% </td> </tr> <tr id="xdx_40B_eoef--FeeWaiverOrReimbursementOverAssets_dpn_zM34PjirVHgi" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Less Fee Waiver and/or Expense Reimbursement1 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> (0.27)% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> (1.02)% </td> </tr> <tr id="xdx_40C_eoef--NetExpensesOverAssets_dpn_zLLNQ5I7cLp9" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 1.05% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.05% </td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; -sec-ix-redline: true; color: #262626; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">1</td><td style="width: 5pt"></td><td style="text-align: justify">Manning & Napier Advisors, LLC (the Advisor or Manning & Napier) has contractually agreed to waive the management fee for the Class W shares. In addition, pursuant to a separate expense limitation agreement, the Advisor has contractually agreed to limit its fees and reimburse expenses to the extent necessary so that the total direct annual fund operating expenses of each Class, exclusive of the Shareholder Services Fee and waived Class W management fees (collectively, “excluded expenses”), do not exceed 0.80% of the average daily net assets of the Class S shares, and 0.05% of the average daily net assets of the Class W shares. These contractual waivers will continue indefinitely, and may only be amended or terminated with the approval of the Series’ Board of Directors. The Advisor’s agreement to limit each Class’s operating expenses is limited to direct operating expenses and, therefore, does not apply to acquired fund fees and expenses, which are indirect expenses incurred by the Series through its investments in other investment companies. The Advisor may receive from a Class the difference between the Class’s total direct annual fund operating expenses, not including excluded expenses, and the Class’s contractual expense limit to recoup all or a portion of its prior fee waivers (other than Class W management fee waivers) or expense reimbursements made during the rolling three-year period (i.e., the three year period following a waiver or reimbursement) preceding the recoupment if at any point the total direct annual fund operating expenses, not including excluded expenses, are below the contractual expense limit (a) at the time of the fee waiver and/or expense reimbursement and (b) at the time of the recoupment.</td> </tr></table> 0.0075 0.0075 0 0 0.0057 0.0032 0.0025 0 0.0032 0.0032 0.0132 0.0107 -0.0027 -0.0102 0.0105 0.0005 Example <p id="xdx_A88_eoef--ExpenseExampleNarrativeTextBlock_gRBEENTB-PJYV_zmOxxzBrv0Af" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The Example below is intended to help you compare the cost of investing in the Series with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Series for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Series’ operating expenses remain the same (taking into account the Advisor’s contractual waivers). Although your actual costs may be higher or lower, based on these assumptions your costs would be: <div id="xdx_A83_eoef--ExpenseExampleWithRedemptionTableTextBlock_zHnW3enZfqQc" style="-sec-ix-redline: true"></div> <table id="xdx_A5B_dU_zqyGo5ZrTJwj" style="-sec-ix-redline: true; table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 68.39pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> </tr> <tr style="min-height: 3pt"> <td style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> </td> <td id="xdx_48D_eoef--ExpenseExampleYear01_zZSnlC1ZPyJc" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> AFTER 1 YEAR </td> <td id="xdx_485_eoef--ExpenseExampleYear03_zBEHzqzc9Dbe" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> AFTER 3 YEARS </td> <td id="xdx_48C_eoef--ExpenseExampleYear05_zjk0TdiiIIL7" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> AFTER 5 YEARS </td> <td id="xdx_48A_eoef--ExpenseExampleYear10_zxqTIemve783" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> AFTER 10 YEARS </td> </tr> <tr id="xdx_41A_20260227__20260227__oef--ClassAxis__custom--C000010124Member_zdsNJW72z516" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class S </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt 2pt 16pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $107 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt 2pt 16pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $334 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt 2pt 16pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $579 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt 2pt 13pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $1,282 </td> </tr> <tr id="xdx_41D_20260227__20260227__oef--ClassAxis__custom--C000206459Member_z28RvWPTXC6k" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class W </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt 2pt 16pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $5 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt 2pt 16pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $16 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt 2pt 16pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $28 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt 2pt 13pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $65 </td> </tr></table> 107 334 579 1282 5 16 28 65 Portfolio Turnover <p id="xdx_A89_eoef--PortfolioTurnoverTextBlock_z1Q0fTJmLj78" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; -sec-ix-redline: true; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The Series pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Series shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the performance of the Series. During the most recent fiscal year, the portfolio turnover rate of the Series was 59% of the average value of its portfolio. 0.59 Principal Investment Strategies <p id="xdx_A8A_eoef--StrategyNarrativeTextBlock_gRBSNTB-WHM_zEZ5gcxwb29c" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The Series will, under normal circumstances, invest at least 80% of its assets in equity securities. The Series principally invests in common stocks of U.S. issuers. The Advisor uses a “bottom-up” strategy, focusing on individual security selection to identify companies that it believes will make attractive long-term investments. The Series may invest in stocks of small-, large-, or mid-size companies. The Series may purchase shares of exchange-traded funds (ETFs), including to establish a diversified position in a particular sector of the market or to manage cash flows. The Advisor believes that purchasing ETFs may allow it to manage the Series’ portfolio more efficiently than would otherwise be possible. In selecting individual securities, the Advisor uses fundamental analysis and looks for one or more of the following characteristics: •Strong strategic profiles (e.g., strong market position, benefits from technology, market share gains and high barriers to entry).•A cyclical improvement in supply and/or demand.•Low price relative to fundamental or breakup value. The Advisor will consider selling a security if: •it no longer fits the Series’ investment strategies or the Advisor’s investment thesis;•it has reached the Advisor’s target sell price or no longer fits the Advisor’s valuation discipline; or•a more attractive investment opportunity is identified. There are no prescribed limits on the sector allocation of the Series’ investments and, from time to time, the Series may focus its investments in one or more sectors. The Series will, under normal circumstances, invest at least 80% of its assets in equity securities. You could lose money by investing in the Series. <p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zuFdARD1EsGh" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Management risk — The value of your investment may decline if the Advisor’s judgments about the attractiveness, relative value or potential appreciation of a particular security or strategy prove to be incorrect. <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zdSBuOnZCQL9" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Market risk — Because the Series invests in stocks, the value of your investment will fluctuate in response to stock market movements. This means that you could lose money on your investment in the Series or the Series could underperform if any of the following occurs: •U.S. stock markets decline. •An adverse event, such as an unfavorable earnings report, depresses the value of one or more of the Series’ portfolio holdings. •An epidemic, pandemic or natural disaster, or widespread fear that such events may occur, negatively affects the global economy, as well as the economies of individual countries, the financial performance of individual companies and sectors, and the markets in general in significant and unforeseen ways. Any such impact could adversely affect the prices and liquidity of the securities and other instruments in which the Series invests. <p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapRiskMember_zvzmz48wOei9" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Large-cap risk — Large-cap stocks tend to go in and out of favor based on market and economic conditions. During a period when large-cap stocks fall behind other types of investments — small-cap stocks, for instance — the Series’ performance could be reduced to the extent its portfolio is holding large-cap stocks. <p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallAndMidCapRiskMember_zgXFOM4tA50a" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Small- and mid-cap risk — The Series may also have special risks due to its investments in stocks of small- and mid-size companies. These risks include the following: •The stocks of small- and mid-size companies may be subject to more abrupt or erratic market movements than the stocks of larger companies. •The stocks of small- and mid-size companies may be subject to liquidity risk because such stocks may have lower trading volume and be less marketable than the stocks of larger companies. Liquidity risk is further described below. •Small- and mid-size companies may have limited product lines, markets, or financial resources, and they may depend on a small management group. As a result, they fail more often than larger companies. <p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--RisksRelatedToETFsMember_zvclpHe7wrtg" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Risks related to ETFs — The risks of owning shares of an ETF generally reflect the risks of owning the underlying securities the ETF is designed to track, although lack of liquidity in an ETF could result in its value being more volatile than the underlying portfolio of securities. The Series will also bear its proportionate share of the expenses of the purchased ETF in addition to its own expenses. <p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorFocusRiskMember_z4tzplopreOc" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Sector focus risk — Because the Series’ investments may, from time to time, be more heavily invested in a particular sector or sectors, the value of its shares may be especially sensitive to factors and economic risks that specifically affect those sectors. As a result, the Series’ share price may fluctuate more widely than the value of shares of a mutual fund that invests in a broader range of sectors. <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--LiquidityRiskMember_z8Xo6svS6IIa" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Liquidity risk — The Series is subject to the risk that, at certain times, its securities may be difficult or impossible to sell at the time and the price that the Series would like. The Series may have to lower the price, sell other securities instead or forego an investment opportunity, any of which could have a negative effect on the Series’ management or performance. <p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeRedemptionRiskMember_zQsp9w4cvzVg" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Large redemption risk — Certain institutions or individuals may from time to time own (beneficially or of record) or control a significant percentage of the Series’ shares. Redemptions by these institutions or individuals in the Series may impact the Series’ liquidity and net asset value (NAV). These redemptions may also force the Series to sell securities, which may cause the Series to experience a loss (particularly during periods of declining or illiquid markets), as well as cause the Series’ portfolio turnover rate and transaction costs to rise, which may negatively affect the Series’ performance and increase the likelihood of capital gain distributions for remaining shareholders. Summary of Past Performance The bar chart and average annual total return table provide some indication of the risks of investing in the Series. The bar chart shows the variability in the performance of the Class S shares of the Series by showing changes in the performance of the Series for each of the last ten calendar years. The total return table shows how the average annual total returns for the Series for different periods compare to those of a broad-based securities index. The Series’ Class W Shares commenced operations on March 1, 2019 and all returns shown for Class W Shares include the returns of the Series’ Class S Shares for periods prior to its inception date. Past performance (both before and after taxes) does not necessarily indicate how the Series will perform in the future. Quarterly updated performance information of the Series is available at www.manning-napier.com. The bar chart and average annual total return table provide some indication of the risks of investing in the Series. Past performance (both before and after taxes) does not necessarily indicate how the Series will perform in the future. www.manning-napier.com CALENDAR YEARS ENDED DECEMBER 31 <div id="xdx_A84_eoef--BarChartTableTextBlock_znC2Uom9d70g"></div> <table border="0" cellpadding="0" cellspacing="0" id="xdx_A53_z2hz6g3GOtX4" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse; display: none" summary="xdx: Disclosure - Annual Total Returns"> <tr style="vertical-align: top"> <td style="text-align: left; width: 50%"> </td> <td id="xdx_483_eoef--AnnlRtrPct_dp_hoef--ClassAxis__custom--C000010124Member_zifBFWM3E4D6" style="text-align: left; width: 50%"> </td></tr> <tr id="xdx_416_20160101__20161231_zOkFjq2v3Bzl" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2016</td> <td style="text-align: left">7.69%</td></tr> <tr id="xdx_419_20170101__20171231_zkX9Jd9clmE9" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2017</td> <td style="text-align: left">28.78%</td></tr> <tr id="xdx_41E_20180101__20181231_z0cqS5EcjWN9" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2018</td> <td style="text-align: left">-3.52%</td></tr> <tr id="xdx_41D_20190101__20191231_zdzepemYk5Ig"> <td style="font-weight: bold; vertical-align: top; text-align: left">2019</td> <td style="vertical-align: bottom; text-align: left">33.53%</td></tr> <tr id="xdx_410_20200101__20201231_z2QriZ7l5AIc"> <td style="font-weight: bold; vertical-align: top; text-align: left">2020</td> <td style="vertical-align: bottom; text-align: left">23.62%</td></tr> <tr id="xdx_414_20210101__20211231_zVRkcbavKdY1" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2021</td> <td style="text-align: left">25.61%</td></tr> <tr id="xdx_418_20220101__20221231_zKBMoIwHHAO9" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2022</td> <td style="text-align: left">-19.61%</td></tr> <tr id="xdx_41A_20230101__20231231_zpLLLPS2Mw69" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2023</td> <td style="text-align: left">24.46%</td></tr> <tr id="xdx_411_20240101__20241231_zyMMAyE2g4cg" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2024</td> <td style="text-align: left">15.93%</td></tr> <tr id="xdx_416_20250101__20251231_zZMFbHDT1f6j" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2025</td> <td style="text-align: left">8.79%</td></tr> </table> <div style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left"> <div style="border-width: 0pt; padding: 0pt; overflow: hidden; display: inline-block; width: 313.2pt; height: 146.71pt; text-align: left"> <img alt="" src="equity-proimg003.gif" style="vertical-align: top; margin-left: -27.59pt; width: 342pt; margin-top: 0pt; height: 145.2pt"/> </div> </div> 0.0769 0.2878 -0.0352 0.3353 0.2362 0.2561 -0.1961 0.2446 0.1593 0.0879 <p id="xdx_A81_eoef--BarChartClosingTextBlock_zWfYBk8d9xze" style="font: 12pt/normal Times New Roman, Times, serif; margin: 4pt 0pt 0pt; text-transform: none; color: #328345; text-indent: 0pt; text-align: left">Quarterly Returns Highest (quarter ended 06/30/2020): 22.84% Lowest (quarter ended 03/31/2020): (16.89)% Highest 2020-06-30 0.2284 Lowest 2020-03-31 -0.1689 <div id="xdx_A89_eoef--PerformanceTableTextBlock_zCqszuSD7zq3" style="-sec-ix-redline: true"></div> <table id="xdx_A57_dU_zkweEs0xqht7" style="-sec-ix-redline: true; table-layout: fixed; width: 313.19pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 140.39pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 57.59pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 57.59pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 57.59pt"> </td> </tr> <tr style="min-height: 3pt"> <td colspan="4" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> AVERAGE ANNUAL TOTAL RETURNS  FOR PERIODS ENDED DECEMBER 31, 2025 </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 1 Year </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 5 Years </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 10 Years </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class S Shares </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_98B_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__oef--ClassAxis__custom--C000010124Member_z5DNHSoFY6n7" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">8.79% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_984_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__oef--ClassAxis__custom--C000010124Member_z47ybbrU60f7" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">9.65% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_98E_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__oef--ClassAxis__custom--C000010124Member_zJsphv0kV4Xg" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">13.35% </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return After Taxes on Distributions </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_983_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__oef--ClassAxis__custom--C000010124Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zbtVWktxA71a" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">6.13% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_982_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__oef--ClassAxis__custom--C000010124Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_z3qJWsaUn2V6" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">6.93% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_983_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__oef--ClassAxis__custom--C000010124Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zmcHxgEmetok" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">10.56% </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return After Taxes on Distributions and Sale of Series Shares </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_98F_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__oef--ClassAxis__custom--C000010124Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zNArxXAP2OKb" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">7.05% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_987_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__oef--ClassAxis__custom--C000010124Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zCpMgGjG2ND4" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">7.16% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_981_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__oef--ClassAxis__custom--C000010124Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_znh2Y6Ihjzc8" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">10.24% </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class W Shares – Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_989_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__oef--ClassAxis__custom--C000206459Member_zyo8fqbaF1Mg" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">9.94% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_98D_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__oef--ClassAxis__custom--C000206459Member_zcZPgA2x6t2k" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">10.76% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_98C_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__oef--ClassAxis__custom--C000206459Member_zc07X5Z1J4b8" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">14.13% </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Index: (reflect no deduction for fees, expenses, or taxes) </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> MSCI USA IMI </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_98B_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__oef--PerformanceMeasureAxis__custom--MsciUsaImiIndexMember_zUt2Tdv4B5p3" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">16.81% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_984_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__oef--PerformanceMeasureAxis__custom--MsciUsaImiIndexMember_zjj9sNNpohLb" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">12.82% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_980_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__oef--PerformanceMeasureAxis__custom--MsciUsaImiIndexMember_zdSL8vCQ09E9" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">13.84% </td> </tr> </table> AVERAGE ANNUAL TOTAL RETURNS FOR PERIODS ENDED DECEMBER 31, 2025 0.0879 0.0965 0.1335 0.0613 0.0693 0.1056 0.0705 0.0716 0.1024 0.0994 0.1076 0.1413 (reflect no deduction for fees, expenses, or taxes) 0.1681 0.1282 0.1384 <p id="xdx_A87_eoef--PerformanceTableClosingTextBlock_z0dnzVyCvGfe" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. The after-tax figures are shown for one share class only, and would be different for the other share class. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold their Series shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. The after-tax figures are shown for one share class only, and would be different for the other share class. After-tax returns are not relevant to investors who hold their Series shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Overseas Series Investment Goal The Series’ investment objective is to provide long-term growth. Fees and Expenses This table describes the fees and expenses you may pay if you buy, hold, and sell shares of the Series. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below. <div id="xdx_A86_eoef--ShareholderFeesTableTextBlock_zBbGOpvY8hd8"></div> <table id="xdx_A58_dU_zBpKveYD6lPg" style="table-layout: fixed; width: 313.91pt; margin-top: 0pt; margin-bottom: 0pt; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 162.72pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> </tr> <tr style="min-height: 18pt"> <td style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> CLASS </td> <td style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> I </td> <td style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> S </td> <td style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> Z </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_98C_eoef--ShareholderFeesCaption_c20260227__20260227__dei--LegalEntityAxis__custom--S000003643Member_zIDHWh5FSAmj" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Shareholder Fees (fees paid directly from your investment) </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> </tr> </table> Shareholder Fees (fees paid directly from your investment) 0 0 0 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) <div id="xdx_A81_eoef--AnnualFundOperatingExpensesTableTextBlock_zB91InMXUvma"></div> <table id="xdx_A5D_dU_ziAQdviKyEYd" style="width: 313.91pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_49E_20260227__20260227__oef--ClassAxis__custom--C000010125Member_zpOcewQRB81e" style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_49D_20260227__20260227__oef--ClassAxis__custom--C000198598Member_z3as3wtoYiR3" style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_495_20260227__20260227__oef--ClassAxis__custom--C000198599Member_z0WdWBkM03Ci" style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td></tr> <tr id="xdx_40A_eoef--ManagementFeesOverAssets_dpn_zZOlSit2i6d7" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 162.72pt"> Management Fees </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.60% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.60% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.60% </td> </tr> <tr id="xdx_40A_eoef--DistributionAndService12b1FeesOverAssets_dpn_z2HNLm9dlPL3" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Distribution and Service (12b-1) Fees </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.25% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> </tr> <tr id="xdx_406_eoef--OtherExpensesOverAssets_dpn_zkLDM6QSGWid" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Other Expenses </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.19% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.25% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.11% </td> </tr> <tr id="xdx_405_eoef--AcquiredFundFeesAndExpensesOverAssets_dpn_zycAm43LYyT2" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Acquired Fund Fees and Expenses </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.01% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.01% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.01% </td> </tr> <tr id="xdx_407_eoef--ExpensesOverAssets_dpn_zgCmmvy37dfh" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Total Annual Fund Operating Expenses1 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.80% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 1.11% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.72% </td> </tr> <tr id="xdx_40B_eoef--FeeWaiverOrReimbursementOverAssets_dpn_z1IVVHMXON2g" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Less Fee Waiver and/or Expense Reimbursement2 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> (0.04)% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> (0.05)% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> (0.06)% </td> </tr> <tr id="xdx_40C_eoef--NetExpensesOverAssets_dpn_zyezhW6I3rra" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement1 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.76% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 1.06% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.66% </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; color: #262626; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">1</td><td style="width: 5pt"></td><td style="text-align: justify">The total annual fund operating expenses in this fee table may not correlate to the expense ratios in the financial highlights in the prospectus (and in the Series’ financial statements) because the financial highlights include only the Series’ direct operating expenses and do not include fees and expenses incurred indirectly by the Series through its investments in other investment companies.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; -sec-ix-redline: true; color: #262626; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">2</td><td style="width: 5pt"></td><td style="text-align: justify">Pursuant to an expense limitation agreement, Manning & Napier Advisors, LLC (the Advisor or Manning & Napier) has contractually agreed to limit its fees and reimburse expenses to the extent necessary so that the total direct annual fund operating expenses of each Class, exclusive of Distribution and Service (12b-1) Fees (“excluded expenses”), do not exceed 0.75% of the average daily net assets of the Class I shares, 0.80% of the average daily net assets of the Class S shares, and 0.65% of the average daily net assets of the Class Z shares. These contractual waivers will continue indefinitely, and may only be amended or terminated with the approval of the Series’ Board of Directors. The Advisor’s agreement to limit each Class’s operating expenses is limited to direct operating expenses and, therefore, does not apply to acquired fund fees and expenses, which are indirect expenses incurred by the Series through its investments in other investment companies. The Advisor may receive from a Class the difference between the Class’s total direct annual fund operating expenses, not including excluded expenses, and the Class’s contractual expense limit to recoup all or a portion of its prior fee waivers or expense reimbursements made during the rolling three-year period (i.e., the three year period following a waiver or reimbursement) preceding the recoupment if at any point the total direct annual fund operating expenses, not including excluded expenses, are below the contractual expense limit (a) at the time of the fee waiver and/or expense reimbursement and (b) at the time of the recoupment.</td> </tr></table> 0.0060 0.0060 0.0060 0 0.0025 0 0.0019 0.0025 0.0011 0.0001 0.0001 0.0001 0.0080 0.0111 0.0072 -0.0004 -0.0005 -0.0006 0.0076 0.0106 0.0066 The total annual fund operating expenses in this fee table may not correlate to the expense ratios in the financial highlights in the prospectus (and in the Series’ financial statements) because the financial highlights include only the Series’ direct operating expenses and do not include fees and expenses incurred indirectly by the Series through its investments in other investment companies. Example <p id="xdx_A81_eoef--ExpenseExampleNarrativeTextBlock_z6GRBy0COnGh" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The Example below is intended to help you compare the cost of investing in the Series with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Series for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Series’ operating expenses remain the same (taking into account the Advisor’s contractual waivers). Although your actual costs may be higher or lower, based on these assumptions your costs would be: <div id="xdx_A85_eoef--ExpenseExampleWithRedemptionTableTextBlock_zX9DEBLFXV4" style="-sec-ix-redline: true"></div> <table id="xdx_A50_dU_z7iwfKw695x7" style="-sec-ix-redline: true; table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 183.6pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 43.19pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 43.19pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 43.19pt"> </td> </tr> </table> <table id="xdx_A50_dU_z7iwfKw695x8" style="-sec-ix-redline: true; table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="min-height: 18pt"> <td style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse; width: 183.6pt"> CLASS </td> <td id="xdx_497_20260227__20260227__oef--ClassAxis__custom--C000010125Member_zhbtMTbdSSmi" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse; width: 43.19pt"> I </td> <td id="xdx_49E_20260227__20260227__oef--ClassAxis__custom--C000198598Member_zmzJGqi7O9We" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse; width: 43.19pt"> S </td> <td id="xdx_49C_20260227__20260227__oef--ClassAxis__custom--C000198599Member_zF42EPrjLm66" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse; width: 43.19pt"> Z </td> </tr> <tr id="xdx_40E_eoef--ExpenseExampleYear01_zcXKFl54erK3" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 1 Year </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 8pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $78 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 8pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $108 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 8pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $67 </td> </tr> <tr id="xdx_40F_eoef--ExpenseExampleYear03_zFT2COWBvJd" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 3 Years </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 8pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $243 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 8pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $337 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 8pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $210 </td> </tr> <tr id="xdx_400_eoef--ExpenseExampleYear05_zmMbwvWBUVBf" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 5 Years </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 8pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $423 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 8pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $584 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 8pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $367 </td> </tr> <tr id="xdx_403_eoef--ExpenseExampleYear10_zI3eBcYscf53" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 10 Years </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 8pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $943 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 8pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $1,293 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 8pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $822 </td> </tr> </table> 78 108 67 243 337 210 423 584 367 943 1293 822 Portfolio Turnover <p id="xdx_A84_eoef--PortfolioTurnoverTextBlock_zdAQW37Dywtg" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; -sec-ix-redline: true; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The Series pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Series shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the performance of the Series. During the most recent fiscal year, the portfolio turnover rate of the Series was 46% of the average value of its portfolio. 0.46 Principal Investment Strategies <p id="xdx_A88_eoef--StrategyNarrativeTextBlock_gRBSNTB-QWBQ_zIAfeVaw9ju4" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The Series invests primarily in common stocks of issuers from outside the United States. The Series will, under normal circumstances, invest at least 80% of its assets in securities of issuers from countries outside the United States; typically, the actual percentage will be considerably higher. The Series may invest in securities denominated in foreign currencies and American Depository Receipts (ADRs) and other U.S. dollar denominated securities of foreign issuers. The Series may invest in stocks of companies both in developed countries and in emerging market countries. The maximum allocation to any one country, measured at the time of purchase, is the higher of 15% or double the country’s weighting in the MSCI EAFE Index. Total holdings in emerging market countries are limited to 35% of the portfolio measured at the time of purchase. The Series may invest in small-, large-, or mid-size companies. The Series may purchase shares of exchange-traded funds (ETFs), including to establish a diversified position in a particular sector of the market or to manage cash flows. The Advisor believes that purchasing ETFs may allow it to manage the Series’ portfolio more efficiently than would otherwise be possible. The Series may, but is not required to, undertake hedging activities and may invest in forward foreign currency contracts to hedge currency risks associated with the purchase of individual securities denominated in a foreign currency. The Advisor uses a “bottom-up” strategy, focusing on individual security selection to choose stocks from companies around the world. The Advisor analyzes factors such as the management, financial condition, and market position of individual companies to select companies that it believes will make attractive long-term investments. In selecting individual securities, the Advisor uses fundamental analysis and looks for one or more of the following characteristics: •Strong strategic profiles (e.g., strong market position, benefits from technology, market-share gains and high barriers to entry).•A cyclical improvement in supply and/or demand. •Low price relative to fundamental or break-up value.The Advisor will consider selling a security if: •it no longer fits the Series’ investment strategies or the Advisor’s investment thesis;•it has reached the Advisor’s target sell price or no longer fits the Advisor’s valuation discipline; or•a more attractive investment opportunity is identified. There are no prescribed limits on the sector allocation of the Series’ investments and, from time to time, the Series may focus its investments in one or more sectors. The Series will, under normal circumstances, invest at least 80% of its assets in securities of issuers from countries outside the United States; typically, the actual percentage will be considerably higher. You could lose money by investing in the Series. <p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zy54sUIxutO" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Management risk — The value of your investment may decline if the Advisor’s judgments about the attractiveness, relative value or potential appreciation of a particular security or strategy prove to be incorrect. <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_z8jPLRN9yQb" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Market risk — Because the Series invests in stocks, the value of your investment will fluctuate in response to stock market movements. This means that you could lose money on your investment in the Series or the Series could underperform if any of the following occurs: •Foreign stock markets decline. •An adverse event, such as an unfavorable earnings report, depresses the value of one or more of the Series’ portfolio holdings. •An epidemic, pandemic or natural disaster, or widespread fear that such events may occur, negatively affects the global economy, as well as the economies of individual countries, the financial performance of individual companies and sectors, and the markets in general in significant and unforeseen ways. Any such impact could adversely affect the prices and liquidity of the securities and other instruments in which the Series invests. <p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignSecuritiesRiskMember_zT1wDT8jPUAe" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Foreign securities risk — Because the Series may invest in securities of foreign issuers, the Series is subject to additional risks. These include risks of adverse changes in foreign economic, political, regulatory and other conditions. The prices of foreign common stocks may, at times, move in a different direction than the prices of U.S. stocks. The Series’ investments may be denominated in the currencies of the countries in which they are located; therefore, the value of the Series may be affected by changes in exchange rates between those foreign currencies and the U.S. dollar. The Advisor’s attempt to manage the currency risk described above may not accurately predict movements in currency exchange rates, which could cause the Series to sustain losses. In addition, periodic U.S. Government restrictions on investments in issuers from certain foreign countries may require the Series to sell such investments at inopportune times or prevent an investment the Advisor otherwise believes is attractive, each of which could result in losses to the Series. These restrictions may also negatively impact the market for securities of issuers that are similar to those directly impacted by the restrictions resulting in reduced liquidity and price declines in those securities as well. <p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--EmergingMarketsRiskMember_zZdW6ab097fg" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Emerging markets risk — The Series may also have special risks due to its investments in emerging market countries. In addition to the risks discussed above relating to investments in foreign companies located in developed countries, the Series’ investments in emerging market countries are subject to the following risks: •Emerging markets may be more likely to experience political turmoil or rapid changes in market or economic conditions than more developed countries. •Emerging market countries often have less uniformity in accounting and reporting requirements and unreliable securities valuation. •It is sometimes difficult to obtain and enforce court judgments in emerging market countries and there is often a greater potential for nationalization and/or expropriation of assets by the government of an emerging market country. •There will tend to be an increased risk of price volatility associated with the Series’ investments in emerging market countries, which may be magnified by currency fluctuations relative to the U.S. dollar. <p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapRiskMember_zWkiIVoyz9eh" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Large-cap risk — Large-cap stocks tend to go in and out of favor based on market and economic conditions. During a period when large-cap stocks fall behind other types of investments — small-cap stocks, for instance — the Series’ performance could be reduced to the extent its portfolio is holding large-cap stocks. <p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallAndMidCapRiskMember_gRBRTB-HSLYOPS_zud63IscM925" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Small- and mid-cap risk — The Series may also have special risks due to its investments in stocks of small- and mid-size companies. These risks include the following: •The stocks of small- and mid-size companies may be subject to more abrupt or erratic market movements than the stocks of larger companies. •The stocks of small- and mid-size companies may be subject to liquidity risk because such stocks may have lower trading volume and be less marketable than the stocks of larger companies. Liquidity risk is further described below. •Small- and mid-size companies may have limited product lines, markets, or financial resources, and they may depend on a small management group. As a result, they fail more often than larger companies. <p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForwardContractsRiskMember_zCEmEV3zyhzb" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Forward contracts risk — The Series is subject to the following risks due to its ability to invest in forward contracts: •Forwards, like all derivatives, can be extremely sensitive to changes in the market value of the underlying investment, and changes in the value of a forward contract may not correlate perfectly with the underlying investment. •The Series may not be able to receive amounts payable to it under its forward contracts as quickly as it may be able to sell or otherwise obtain payments from other investments, so the Series’ investments in such contracts may not be as liquid as the Series’ other investments. •The Series’ use of forwards is also subject to the risk that the counterparty to the forward contract will default or otherwise become unable to honor its obligation to the Series. <p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--RisksRelatedToETFsMember_zJphrq5i3t91" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Risks related to ETFs — The risks of owning shares of an ETF generally reflect the risks of owning the underlying securities the ETF is designed to track, although lack of liquidity in an ETF could result in its value being more volatile than the underlying portfolio of securities. The Series will also bear its proportionate share of the expenses of the purchased ETF in addition to its own expenses. <p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorFocusRiskMember_zwTd3UShv4N6" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Sector focus risk — Because the Series’ investments may, from time to time, be more heavily invested in a particular sector or sectors, the value of its shares may be especially sensitive to factors and economic risks that specifically affect those sectors. As a result, the Series’ share price may fluctuate more widely than the value of shares of a mutual fund that invests in a broader range of sectors. <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--LiquidityRiskMember_zNrZARBA8DE" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Liquidity risk — The Series is subject to the risk that, at certain times, its securities may be difficult or impossible to sell at the time and the price that the Series would like. The Series may have to lower the price, sell other securities instead or forego an investment opportunity, any of which could have a negative effect on the Series’ management or performance. <p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeRedemptionRiskMember_zKgA8gm18uz" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Large redemption risk — Certain institutions or individuals may from time to time own (beneficially or of record) or control a significant percentage of the Series’ shares. Redemptions by these institutions or individuals in the Series may impact the Series’ liquidity and net asset value (NAV). These redemptions may also force the Series to sell securities, which may cause the Series to experience a loss (particularly during periods of declining or illiquid markets), as well as cause the Series’ portfolio turnover rate and transaction costs to rise, which may negatively affect the Series’ performance and increase the likelihood of capital gain distributions for remaining shareholders. Summary of Past Performance <p id="xdx_A88_eoef--PerformanceNarrativeTextBlock_ziMbw6l7L2Yf" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; -sec-ix-redline: true; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The bar chart and average annual total return table provide some indication of the risks of investing in the Series. The bar chart shows the variability in the performance of the Series by showing changes in the performance of the Class I shares of the Series for each of the last ten calendar years. The total return table shows how the average annual total returns for the Series for different periods compared to those of a broad-based securities index. The Series’ Class Z Shares, and Class S Shares commenced operations on May 1, 2018, and September 21, 2018, respectively, and all returns shown for each such class include the returns of the Series’ Class I Shares (adjusted to reflect the higher class-related expenses of the class, where applicable) for periods prior to its inception date. The Series’ performance in calendar year 2020 includes the impact of the Fund’s receipt of a one-time payment of litigation settlement proceeds relating to a prior portfolio investment. This one-time payment was received during the third quarter of 2020 and contributed approximately 3.6% to the Series’ performance in 2020. The impact of this contribution to the Series’ average annual total returns will vary by timeframe. Past performance (both before and after taxes) does not necessarily indicate how the Series will perform in the future. Quarterly performance information of the Series is available at www.manning-napier.com. The bar chart and average annual total return table provide some indication of the risks of investing in the Series. Past performance (both before and after taxes) does not necessarily indicate how the Series will perform in the future. www.manning-napier.com CALENDAR YEARS ENDED DECEMBER 31 <div id="xdx_A85_eoef--BarChartTableTextBlock_zql9YEgJdtG9"></div> <table border="0" cellpadding="0" cellspacing="0" id="xdx_A54_zO616bx54ndk" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse; display: none" summary="xdx: Disclosure - Annual Total Returns"> <tr style="vertical-align: top"> <td style="text-align: left; width: 50%"> </td> <td id="xdx_483_eoef--AnnlRtrPct_dp_hoef--ClassAxis__custom--C000010125Member_znT1K8UwV3G9" style="text-align: left; width: 50%"> </td></tr> <tr id="xdx_416_20160101__20161231_zmHRHNXzhvFa" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2016</td> <td style="text-align: left">3.50%</td></tr> <tr id="xdx_419_20170101__20171231_zi62iBzZL0K3" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2017</td> <td style="text-align: left">23.91%</td></tr> <tr id="xdx_41E_20180101__20181231_zQ0KIhMu2LH7" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2018</td> <td style="text-align: left">-17.22%</td></tr> <tr id="xdx_41D_20190101__20191231_zHeriV8MAlSa" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2019</td> <td style="text-align: left">27.50%</td></tr> <tr id="xdx_410_20200101__20201231_zCEqPhKRbE65" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2020</td> <td style="text-align: left">27.06%</td></tr> <tr id="xdx_414_20210101__20211231_z196uRqjp4kh" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2021</td> <td style="text-align: left">11.51%</td></tr> <tr id="xdx_418_20220101__20221231_zlqaOqNXX66k" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2022</td> <td style="text-align: left">-24.26%</td></tr> <tr id="xdx_41A_20230101__20231231_zmhKXTEAA3mb" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2023</td> <td style="text-align: left">19.87%</td></tr> <tr id="xdx_411_20240101__20241231_z79Ghpw5SYn2" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2024</td> <td style="text-align: left">3.35%</td></tr> <tr id="xdx_416_20250101__20251231_zbdSDngtAiOe" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2025</td> <td style="text-align: left">16.22%</td></tr> </table> <div style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 4pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left"> <div style="border-width: 0pt; padding: 0pt; overflow: hidden; width: 308.09pt; height: 179.44pt; text-align: left"> <img alt="" src="overseas-proimg003.gif" style="vertical-align: top; margin-left: 0pt; width: 307.2pt; margin-top: 0pt; height: 176.4pt"/> </div> </div> 0.0350 0.2391 -0.1722 0.2750 0.2706 0.1151 -0.2426 0.1987 0.0335 0.1622 <p id="xdx_A81_eoef--BarChartClosingTextBlock_zxNVbL4hDzxg" style="font: 12pt/normal Times New Roman, Times, serif; margin: 4pt 0pt 0pt; -sec-ix-redline: true; text-transform: none; color: #328345; text-indent: 0pt; text-align: left">Quarterly Returns Highest (quarter ended 06/30/2020): 22.64% Lowest (quarter ended 03/31/2020): (20.81)% Highest 2020-06-30 0.2264 Lowest 2020-03-31 -0.2081 <div id="xdx_A85_eoef--PerformanceTableTextBlock_zi6QjMef5wgc" style="-sec-ix-redline: true"></div> <table style="-sec-ix-redline: true; table-layout: fixed; width: 312.47pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 139.67pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 57.59pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 57.59pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 57.59pt"> </td> </tr> <tr style="min-height: 3pt"> <td colspan="4" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> AVERAGE ANNUAL TOTAL RETURNS  FOR PERIODS ENDED DECEMBER 31, 2025 </td> </tr> </table> <div style="-sec-ix-redline: true"></div> <table id="xdx_A54_dU_z98WpZ3jiSU4" style="-sec-ix-redline: true; width: 312.47pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 139.67pt"> </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 57.59pt"> 1 Year </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 57.59pt"> 5 Years </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 57.59pt"> 10 Years </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class I Shares </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_98B_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__oef--ClassAxis__custom--C000010125Member_z12TNNdl2D83" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">16.22% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_984_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__oef--ClassAxis__custom--C000010125Member_zS9KLj19Mrmk" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">3.99% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_989_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__oef--ClassAxis__custom--C000010125Member_z57Nyyd5ObU3" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">7.66% </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return After Taxes on Distributions </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_983_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__oef--ClassAxis__custom--C000010125Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zSnYaRuqiWU8" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">16.02% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_982_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__oef--ClassAxis__custom--C000010125Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_z5TrNZKWsr13" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">3.79% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_986_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__oef--ClassAxis__custom--C000010125Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zCAKmH80K4Hj" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">7.45% </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return After Taxes on Distributions and Sale of Series Shares </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_98F_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__oef--ClassAxis__custom--C000010125Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zyDpONpZ959b" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">9.94% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_987_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__oef--ClassAxis__custom--C000010125Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_z4oilYgQCit8" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">3.17% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_981_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__oef--ClassAxis__custom--C000010125Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zxomqsYfDOk7" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">6.30% </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class S Shares – Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_989_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__oef--ClassAxis__custom--C000198598Member_zpl0AVIU2HB9" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">15.88% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_98D_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__oef--ClassAxis__custom--C000198598Member_zvdM2y7hgUfl" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">3.68% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_98C_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__oef--ClassAxis__custom--C000198598Member_zwAGIGcZARlg" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">7.34% </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class Z Shares – Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_98C_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__oef--ClassAxis__custom--C000198599Member_zKWaApqU2mle" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">16.35% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_982_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__oef--ClassAxis__custom--C000198599Member_zcUlntWODa75" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">4.09% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_98C_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__oef--ClassAxis__custom--C000198599Member_zyhO8RhXrKac" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">7.74% </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: Black 0.5pt solid; padding: 2pt 0pt 2pt 4pt; vertical-align: bottom; border-collapse: collapse"> Index: (reflects no deduction for fees, expenses, or taxes)</td> <td style="border-bottom: Black 0.5pt solid; padding: 2pt 0pt 2pt 4pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 0pt 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> MSCI ACWI ex USA </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_986_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__oef--PerformanceMeasureAxis__custom--MSCIACWIexUSAIndexMember_zWfMCCcYz3q2" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">32.39% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_985_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__oef--PerformanceMeasureAxis__custom--MSCIACWIexUSAIndexMember_zlPjZYvkgxRf" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">7.91% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_989_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__oef--PerformanceMeasureAxis__custom--MSCIACWIexUSAIndexMember_zk2NTRaiKkx6" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-align: right">8.41% </td> </tr> </table> AVERAGE ANNUAL TOTAL RETURNS FOR PERIODS ENDED DECEMBER 31, 2025 0.1622 0.0399 0.0766 0.1602 0.0379 0.0745 0.0994 0.0317 0.0630 0.1588 0.0368 0.0734 0.1635 0.0409 0.0774 (reflects no deduction for fees, expenses, or taxes) 0.3239 0.0791 0.0841 <p id="xdx_A87_eoef--PerformanceTableClosingTextBlock_zbisdEu4iJm5" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. The after-tax figures are shown for one share class only, and would be different for the other share classes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold their Series shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. The after-tax figures are shown for one share class only, and would be different for the other share classes. After-tax returns are not relevant to investors who hold their Series shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Disciplined Value Series Investment Goal To provide competitive returns consistent with the broad equity market while also providing a level of capital protection during market downturns. Fees and Expenses This table describes the fees and expenses you may pay if you buy, hold and sell shares of the Series. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below. <div id="xdx_A84_eoef--ShareholderFeesTableTextBlock_zDFsHz1ZkDYe" style="-sec-ix-redline: true"></div> <table id="xdx_A5A_dU_zUaFgizF4fO9" style="-sec-ix-redline: true; table-layout: fixed; width: 312.24pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 141.84pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 40.8pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 40.8pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 48pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 40.8pt"> </td> </tr> <tr style="max-height: 24pt; min-height: 24pt; height: 24pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; background-color: #328345; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: middle; border-collapse: collapse"> CLASS </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; background-color: #328345; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: middle; border-collapse: collapse"> S </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; background-color: #328345; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: middle; border-collapse: collapse"> I </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; background-color: #328345; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: middle; border-collapse: collapse"> W </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; background-color: #328345; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: middle; border-collapse: collapse"> Z </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_988_eoef--ShareholderFeesCaption_c20260227__20260227__dei--LegalEntityAxis__custom--S000023800Member_zycK8RFq0xz3" style="font: 8pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Shareholder Fees (fees paid directly from your investment) </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> </tr> </table> Shareholder Fees(fees paid directly from your investment) 0 0 0 0 Annual Fund Operating Expenses (expenses that you pay eachyear as a percentage of the value of your investment) <div id="xdx_A8A_eoef--AnnualFundOperatingExpensesTableTextBlock_gRBAFOETTB-DVK_zmvB1leu1hb7" style="-sec-ix-redline: true"></div> <table id="xdx_A59_dU_z2tuJRxVeCIh" style="-sec-ix-redline: true; width: 312.24pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_49C_20260227__20260227__oef--ClassAxis__custom--C000110959Member_zNPvsZmf8T79" style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_497_20260227__20260227__oef--ClassAxis__custom--C000069982Member_zY7EgQpWfDwf" style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_496_20260227__20260227__oef--ClassAxis__custom--C000206462Member_z6t8SkIJPkP4" style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_495_20260227__20260227__oef--ClassAxis__custom--C000206461Member_zR0b2XIre987" style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td></tr> <tr id="xdx_40A_eoef--ManagementFeesOverAssets_dpn_zfZTNXDT656a" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 141.84pt"> Management Fees </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.30% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.30% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.30% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.30% </td> </tr> <tr id="xdx_40A_eoef--DistributionAndService12b1FeesOverAssets_dpn_z3TcsF0omAN8" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Distribution and Service (12b-1) Fees </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.25% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> </tr> <tr id="xdx_406_eoef--OtherExpensesOverAssets_dpn_zEMzCEuW4Abe" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Other Expenses </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.22% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.26% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.18% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.18% </td> </tr> <tr id="xdx_406_eoef--AcquiredFundFeesAndExpensesOverAssets_dpn_zrgERLPZhA7j" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Acquired Fund Fees and Expenses </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.01% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.01% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.01% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.01% </td> </tr> <tr id="xdx_407_eoef--ExpensesOverAssets_dpn_ztA2zpZgLFu" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Total Annual Fund Operating Expenses1 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.78% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.57% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.49% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.49% </td> </tr> <tr id="xdx_40B_eoef--FeeWaiverOrReimbursementOverAssets_dpn_zs54SFzyVZp3" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Less Fee Waiver and/or Expense Reimbursement2 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> (0.33)% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 1pt 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> (0.03)% </td> </tr> <tr id="xdx_40C_eoef--NetExpensesOverAssets_dpn_zkHRZ1v0mXPg" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement1 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.78% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.57% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.16% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.46% </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; -sec-ix-redline: true; color: #262626; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">1</td><td style="width: 5pt"></td><td style="text-align: justify">The total annual fund operating expenses in this fee table may not correlate to the expense ratios in the financial highlights in the prospectus (and in the Series’ financial statements) because the financial highlights include only the Series’ direct operating expenses and do not include fees and expenses incurred indirectly by the Series through its investments in other investment companies.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; -sec-ix-redline: true; display: none; visibility: hidden; color: #262626; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">2</td><td style="width: 5pt"></td><td style="text-align: justify">Manning & Napier Advisors, LLC (the Advisor or Manning & Napier) has contractually agreed to waive the management fee for the Class W shares. In addition, pursuant to a separate expense limitation agreement, the Advisor has contractually agreed to limit its fees and reimburse expenses to the extent necessary so that the total direct annual fund operating expenses of each Class, exclusive of Distribution and Service (12b-1) Fees and waived Class W management fees (collectively, “excluded expenses”), do not exceed 0.60% of the average daily net assets of the Class I and Class S shares, 0.45% of the average daily net assets of the Class Z shares, and 0.15% of the average daily net assets of the Class W shares. These contractual waivers will continue indefinitely, and may only be amended or terminated with the approval of the Series’ Board of Directors. The Advisor’s agreement to limit each Class’s operating expenses is limited to direct operating expenses and, therefore, does not apply to acquired fund fees and expenses, which are indirect expenses incurred by the Series through its investments in other investment companies. The Advisor may receive from a Class the difference between the Class’s total direct annual fund operating expenses, not including excluded expenses, and the Class’s contractual expense limit to recoup all or a portion of its prior fee waivers (other than Class W management fee waivers) or expense reimbursements made during the rolling three-year period (i.e., the three year period following a waiver or reimbursement) preceding the recoupment if at any point the total direct annual fund operating expenses, not including excluded expenses, are below the contractual expense limit (a) at the time of the fee waiver and/or expense reimbursement and (b) at the time of the recoupment.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; -sec-ix-redline: true; color: #262626; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">2</td><td style="width: 5pt"></td><td style="text-align: justify">Manning & Napier Advisors, LLC (the Advisor or Manning & Napier) has contractually agreed to waive the management fee for the Class W shares. In addition, pursuant to a separate expense limitation agreement, the Advisor has contractually agreed to limit its fees and reimburse expenses to the extent necessary so that the total direct annual fund operating expenses of each Class, exclusive of Distribution and Service (12b-1) Fees and waived Class W management fees (collectively, “excluded expenses”), do not exceed 0.60% of the average daily net assets of the Class I and Class S shares, 0.45% of the average daily net assets of the Class Z shares, and 0.15% of the average daily net assets of the Class W shares. These contractual waivers will continue indefinitely, and may only be amended or terminated with the approval of the Series’ Board of Directors. The Advisor’s agreement to limit each Class’s operating expenses is limited to direct operating expenses and, therefore, does not apply to acquired fund fees and expenses, which are indirect expenses incurred by the Series through its investments in other investment companies. The Advisor may receive from a Class the difference between the Class’s total direct annual fund operating expenses, not including excluded expenses, and the Class’s contractual expense limit to recoup all or a portion of its prior fee waivers (other than Class W management fee waivers) or expense reimbursements made during the rolling three-year period (i.e., the three</td> </tr></table> <div></div> <table cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; color: #262626; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"></td><td style="width: 5pt"></td><td style="text-align: justify">year period following a waiver or reimbursement) preceding the recoupment if at any point the total direct annual fund operating expenses, not including excluded expenses, are below the contractual expense limit (a) at the time of the fee waiver and/or expense reimbursement and (b) at the time of the recoupment.</td> </tr></table> 0.0030 0.0030 0.0030 0.0030 0.0025 0 0 0 0.0022 0.0026 0.0018 0.0018 0.0001 0.0001 0.0001 0.0001 0.0078 0.0057 0.0049 0.0049 0 0 -0.0033 -0.0003 0.0078 0.0057 0.0016 0.004 The total annual fund operating expenses in this fee table may not correlate to the expense ratios in the financial highlights in the prospectus (and in the Series’ financial statements) because the financial highlights include only the Series’ direct operating expenses and do not include fees and expenses incurred indirectly by the Series through its investments in other investment companies. Example <p id="xdx_A81_eoef--ExpenseExampleNarrativeTextBlock_zy17Pj9zdFri" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The Example below is intended to help you compare the cost of investing in the Series with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Series for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Series’ operating expenses remain the same (taking into account the Advisor’s contractual waivers). Although your actual costs may be higher or lower, based on these assumptions your costs would be: <div id="xdx_A86_eoef--ExpenseExampleWithRedemptionTableTextBlock_z6opBtrOl714" style="-sec-ix-redline: true"></div> <table id="xdx_A51_dU_zbwyoIepf0m8" style="-sec-ix-redline: true; table-layout: fixed; width: 314.4pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 156pt"> </td> <td id="xdx_498_20260227__20260227__oef--ClassAxis__custom--C000110959Member_zmmuVPX0721j" style="border-width: 0; margin: 0; padding: 0; width: 39.6pt"> </td> <td id="xdx_49C_20260227__20260227__oef--ClassAxis__custom--C000069982Member_zPHZFOVZ0Dpj" style="border-width: 0; margin: 0; padding: 0; width: 39.6pt"> </td> <td id="xdx_49B_20260227__20260227__oef--ClassAxis__custom--C000206462Member_zKCfuboMc5Bf" style="border-width: 0; margin: 0; padding: 0; width: 39.6pt"> </td> <td id="xdx_49A_20260227__20260227__oef--ClassAxis__custom--C000206461Member_zXhayC1UvG5c" style="border-width: 0; margin: 0; padding: 0; width: 39.6pt"> </td> </tr> <tr style="min-height: 20.99pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; background-color: #328345; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: middle; border-collapse: collapse"> CLASS </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; background-color: #328345; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: middle; border-collapse: collapse"> S </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; background-color: #328345; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: middle; border-collapse: collapse"> I </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; background-color: #328345; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: middle; border-collapse: collapse"> W </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; background-color: #328345; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: middle; border-collapse: collapse"> Z </td> </tr> <tr id="xdx_40E_eoef--ExpenseExampleYear01_z0Vxa2oNtm0d" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 1 Year </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $80 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $58 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $16 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $47 </td> </tr> <tr id="xdx_402_eoef--ExpenseExampleYear03_zWaPOsv10Ov8" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 3 Years </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $250 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $183 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $51 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $147 </td> </tr> <tr id="xdx_40C_eoef--ExpenseExampleYear05_z76XWmuGVNB6" style="min-height: 3pt"> <td style="border-top: #000000 0.5pt solid; border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 5 Years </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $434 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $318 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $90 </td> <td style="border-top: #000000 0.5pt solid; border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $257 </td> </tr> <tr id="xdx_406_eoef--ExpenseExampleYear10_zsH0Sbyye6V8" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 10 years </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $967 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $713 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $205 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $578 </td> </tr> </table> 80 58 16 47 250 183 51 147 434 318 90 257 967 713 205 578 Portfolio Turnover <p id="xdx_A8D_eoef--PortfolioTurnoverTextBlock_zdAO0jdf0Ed1" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; -sec-ix-redline: true; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The Series pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Series shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the performance of the Series. During the most recent fiscal year, the portfolio turnover rate of the Series was 49% of the average value of its portfolio. 0.49 Principal Investment Strategies The Series will, under normal circumstances, invest at least 80% of its assets in dividend-paying common stocks. The Series principally invests in the common stocks of mid- to large- capitalization companies. The Advisor constructs a portfolio consisting primarily of U.S. companies trading on U.S. stock exchanges that it believes will provide competitive returns consistent with the broad equity market while also providing a level of capital protection during sustained market downturns. In selecting securities for the Series, the Advisor uses a systematic process to identify stocks of companies that it believes are undervalued in the market, based on factors such as free cash flow generation and earnings power, and that meet other investment criteria relating to minimum dividend yield, dividend sustainability, and financial health. The Series’ investment strategy may involve allocating large portions of the Series’ portfolio to industry sectors which meet the Advisor’s investment criteria. Although stocks may be added to or removed from the Series’ portfolio at any time during the year, the Advisor expects that modifications to the Series’ portfolio will take place during the Advisor’s quarterly portfolio review and rebalancing process. The Series will, under normal circumstances, invest at least 80% of its assets in dividend-paying common stocks. You could lose money by investing in the Series. <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zal8x4uOBkDe" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Market risk — Because the Series invests in stocks, the value of your investment will fluctuate in response to stock market movements. This means that you could lose money on your investment in the Series or the Series could underperform if any of the following occurs: •U.S. stock markets decline. •An adverse event, such as an unfavorable earnings report, depresses the value of one or more of the Series’ portfolio holdings. •An epidemic, pandemic or natural disaster, or widespread fear that such events may occur, negatively affects the global economy, as well as the economies of individual countries, the financial performance of individual companies and sectors, and the markets in general in significant and unforeseen ways. Any such impact could adversely affect the prices and liquidity of the securities and other instruments in which the Series invests. <p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentStyleRiskMember_z0qKvxzr2Dv3" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Investment style risk — Investing primarily in dividend-paying common stocks may cause the Series to underperform funds that do not limit their investments to dividend-paying common stocks during periods when dividend-paying stocks underperform other types of stocks. In addition, if stocks held by the Series reduce or stop paying dividends, the Series’ ability to generate income may be affected. The Advisor’s judgments regarding the systematic approach used to select stocks may prove to be incorrect. In addition, the Advisor’s approach to value investing, or value investing in general, may go in and out of favor in the market. These risks may cause the Series to underperform its benchmark or funds with other investment styles. The Advisor will make modifications to the Series’ portfolio on a quarterly basis. Accordingly, the Advisor does not intend to make frequent changes to the Series’ portfolio in response to market movements (positive or negative). The Series may perform differently than funds that more actively rebalance their portfolios in response to market movements. <p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapRiskMember_zQzK8JWAz7dj" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Large-cap risk — Large-cap stocks tend to go in and out of favor based on market and economic conditions. During a period when large-cap stocks fall behind other types of investments — small-cap stocks, for instance — the Series’ performance could be reduced to the extent its portfolio is holding large-cap stocks. <p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--MidCapRiskMember_zCkC9je1HOP1" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Mid-cap risk — The Series may also have special risks due to its investments in stocks of mid-size companies. These risks include the following: •The stocks of mid-size companies may be subject to more abrupt or erratic market movements than the stocks of larger companies. •The stocks of mid-size companies may be subject to liquidity risk because such stocks may have lower trading volume and be less marketable than the stocks of larger companies. Liquidity risk is further described below. <p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorFocusRiskMember_zXNquWl5RSJ2" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Sector focus risk — The Series’ investment strategy may involve allocating large portions of the Series’ portfolio to industry sectors which meet the Advisor’s investment criteria. As a result, poor performance or adverse economic events affecting one or more of these sectors could have a greater impact on the Series than it would if the Series’ investments were allocated across a broader range of industry sectors. <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--LiquidityRiskMember_zK1Z46YL5SOk" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Liquidity risk — The Series is subject to the risk that, at certain times, its securities may be difficult or impossible to sell at the time and the price that the Series would like. The Series may have to lower the price, sell other securities instead or forego an investment opportunity, any of which could have a negative effect on the Series’ management or performance. <p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeRedemptionRiskMember_z8Gee4DsuFJf" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Large redemption risk — Certain institutions or individuals may from time to time own (beneficially or of record) or control a significant percentage of the Series’ shares. Redemptions by these institutions or individuals in the Series may impact the Series’ liquidity and net asset value (NAV). These redemptions may also force the Series to sell securities, which may cause the Series to experience a loss (particularly during periods of declining or illiquid markets), as well as cause the Series’ portfolio turnover rate and transaction costs to rise, which may negatively affect the Series’ performance and increase the likelihood of capital gain distributions for remaining shareholders. Summary of Past Performance The bar chart and average annual total return table provide some indication of the risks of investing in the Series. The bar chart shows the variability in the performance of the Series by showing changes in the performance of the Class I shares of the Series for each of the last ten calendar years. The total return table shows how the average annual total returns for the Series for different periods compare to those of a broad-based securities index. The Series’ Class Z Shares and Class W Shares commenced operations on March 1, 2019, and all returns shown for each such class include the returns of the Series’ Class I Shares (adjusted to reflect the higher class-related expenses of the class, where applicable) for periods prior to its inception date. Past performance (both before and after taxes) does not necessarily indicate how the Series will perform in the future. Quarterly updated performance information of the Series is available at www.manning-napier.com. The bar chart and average annual total return table provide some indication of the risks of investing in the Series. Past performance (both before and after taxes) does not necessarily indicate how the Series will perform in the future. www.manning-napier.com CALENDAR YEARS ENDED DECEMBER 31 <div id="xdx_A8F_eoef--BarChartTableTextBlock_zl57WJ3sWSIf"></div> <table border="0" cellpadding="0" cellspacing="0" id="xdx_A5D_dU_zBj8qVsy7Qz2" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse; display: none" summary="xdx: Schedule - Annual Total Returns"> <tr style="vertical-align: top"> <td style="text-align: left; width: 50%"> </td> <td id="xdx_483_eoef--AnnlRtrPct_dp_hoef--ClassAxis__custom--C000069982Member_zztQSYulpj9k" style="text-align: left; width: 50%"> </td></tr> <tr id="xdx_416_20160101__20161231_zvNnNFBKEZt9" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2016</td> <td style="text-align: left">15.49%</td></tr> <tr id="xdx_419_20170101__20171231_zOhcfBFmaUO" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2017</td> <td style="text-align: left">23.10%</td></tr> <tr id="xdx_41E_20180101__20181231_zmjm9PCmd977" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2018</td> <td style="text-align: left">-4.07%</td></tr> <tr id="xdx_41D_20190101__20191231_zDxxCakybXF5" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2019</td> <td style="text-align: left">24.32%</td></tr> <tr id="xdx_410_20200101__20201231_zPZ5ckZY2Vfa" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2020</td> <td style="text-align: left">2.49%</td></tr> <tr id="xdx_414_20210101__20211231_zWHd2A17sZV2" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2021</td> <td style="text-align: left">22.45%</td></tr> <tr id="xdx_418_20220101__20221231_zIAemeZ0SJtk" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2022</td> <td style="text-align: left">-4.26%</td></tr> <tr id="xdx_41A_20230101__20231231_zSyWc5FYZWii" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2023</td> <td style="text-align: left">5.51%</td></tr> <tr id="xdx_411_20240101__20241231_zaoI2Bd8YDFl" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2024</td> <td style="text-align: left">11.66%</td></tr> <tr id="xdx_416_20250101__20251231_zdiq47R2D9x9" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2025</td> <td style="text-align: left">15.88%</td></tr> </table> <div style="font: 12pt/normal Times New Roman, Times, serif; margin: 0pt 0pt 8pt; text-transform: none; color: #328345; text-indent: 0pt; text-align: left"> <div style="border-width: 0pt; padding: 0pt; overflow: hidden; display: inline-block; width: 313.2pt; height: 186.96pt; text-align: left"> <img alt="" src="disc-proimg003.gif" style="vertical-align: top; margin-left: -20.4pt; width: 332.4pt; margin-top: 12pt; height: 170.4pt"/> </div> </div> 0.1549 0.2310 -0.0407 0.2432 0.0249 0.2245 -0.0426 0.0551 0.1166 0.1588 <p id="xdx_A81_eoef--BarChartClosingTextBlock_z5hkXW9lPi89" style="font: 12pt/normal Times New Roman, Times, serif; margin: 4pt 0pt 0pt; text-transform: none; color: #328345; text-indent: 0pt; text-align: left">Quarterly Returns Highest (quarter ended 12/31/2022): 15.22% Lowest (quarter ended 03/31/2020): (25.06)% Highest 2022-12-31 0.1522 Lowest 2020-03-31 -0.2506 <div id="xdx_A83_eoef--PerformanceTableTextBlock_z2p8SjXi1wq1" style="-sec-ix-redline: true"></div> <table style="-sec-ix-redline: true; table-layout: fixed; width: 313.92pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 151.92pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 54pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 54pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 54pt"> </td> </tr> <tr style="min-height: 3pt"> <td colspan="4" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> AVERAGE ANNUAL TOTAL RETURNS  FOR PERIODS ENDED DECEMBER 31, 2025 </td> </tr> </table> <div style="-sec-ix-redline: true"></div> <table id="xdx_A5B_dU_zGrnTWxdfeV3" style="-sec-ix-redline: true; width: 313.92pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 151.92pt"> </td> <td id="xdx_492_20250101__20251231_zWuV5jFjEGI6" style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 54pt"> 1 Year </td> <td id="xdx_49D_20210101__20251231_zbVcDUF3Ztu8" style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 54pt"> 5 Years </td> <td id="xdx_497_20160101__20251231_z1ViP7thCbB4" style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 54pt"> 10 Years </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class I Shares </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> </tr> <tr id="xdx_40A_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000069982Member_zvI7a97SLbpb" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 15.88% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 9.86% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 10.77% </td> </tr> <tr id="xdx_409_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000069982Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zqRHJfnhuTs4" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return After Taxes on Distributions </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 13.27% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 7.63% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 8.42% </td> </tr> <tr id="xdx_405_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000069982Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_z1TNN6iHiQAl" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return After Taxes on Distributions and Sale of Series Shares </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 11.01% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 7.48% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 8.23% </td> </tr> <tr id="xdx_403_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000110959Member_zjYfeC8rbmi2" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class S Shares – Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 15.71% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 9.66% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 10.54% </td> </tr> <tr id="xdx_40E_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000206462Member_z95mKsqvQ5hi" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class W Shares – Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 16.39% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 10.35% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 11.10% </td> </tr> <tr id="xdx_408_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000206461Member_zRKSsdYvXU6j" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class Z Shares – Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 16.11% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 10.01% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 10.87% </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Indices: (reflect no deduction for fees, expenses, or taxes) </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> </tr> <tr id="xdx_40F_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--MSCIUSAIndexMember_zHOqbVkJtw59" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> MSCI USA Index </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 17.31% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 13.38% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 14.22% </td> </tr> <tr id="xdx_402_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--MSCIUSAValueIndexMember_zcSy8n5qmdo1" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> MSCI USA Value Index </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 12.97% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 10.31% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 9.53% </td> </tr> </table> AVERAGE ANNUAL TOTAL RETURNS FOR PERIODS ENDED DECEMBER 31, 2025 0.1588 0.0986 0.1077 0.1327 0.0763 0.0842 0.1101 0.0748 0.0823 0.1571 0.0966 0.1054 0.1639 0.1035 0.1110 0.1611 0.1001 0.1087 (reflect no deduction for fees, expenses, or taxes) 0.1731 0.1338 0.1422 0.1297 0.1031 0.0953 <p id="xdx_A88_eoef--PerformanceTableClosingTextBlock_zfL3ihIegNw6" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. The after-tax figures are shown for one share class only, and would be different for the other share classes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold their Series shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. The after-tax figures are shown for one share class only, and would be different for the other share classes. After-tax returns are not relevant to investors who hold their Series shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Rainier International Discovery Series Investment Goal The investment objective of the Rainier International Discovery Series (the “Series”) is to seek long-term capital appreciation. Fees and Expenses This table describes the fees and expenses you may pay if you buy, sell, and hold shares of the Series. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below. <div id="xdx_A89_eoef--ShareholderFeesTableTextBlock_zMgLds2U8D1e"></div> <table id="xdx_A5F_dU_zM094g13Fink" style="table-layout: fixed; width: 312.96pt; margin-top: 0pt; margin-bottom: 0pt; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 120.96pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 48pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 48pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 48pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 48pt"> </td> </tr> <tr style="min-height: 3pt"> <td style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> CLASS </td> <td style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> I </td> <td style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> S </td> <td style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> Z </td> <td style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> W </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_988_eoef--ShareholderFeesCaption_c20260227__20260227__dei--LegalEntityAxis__custom--S000058080Member_zVfMha0OB5y8" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Shareholder Fees (fees paid directly from your investment) </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> </tr> </table> Shareholder Fees(fees paid directly from your investment) 0 0 0 0 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) <div id="xdx_A84_eoef--AnnualFundOperatingExpensesTableTextBlock_gRBAFOETTB-XANTJA_zfRdFqQ58v35"></div> <table id="xdx_A5C_dU_z9wNsbetaFxe" style="width: 312.96pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_496_20260227__20260227__oef--ClassAxis__custom--C000190099Member_zG3d1ROjKRkf" style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_49B_20260227__20260227__oef--ClassAxis__custom--C000190100Member_zzchWblRJQmg" style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_496_20260227__20260227__oef--ClassAxis__custom--C000190101Member_zDVtfEKwu8j1" style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_49E_20260227__20260227__oef--ClassAxis__custom--C000206468Member_zGimibvQ9Bx9" style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td></tr> <tr id="xdx_40A_eoef--ManagementFeesOverAssets_dpn_z4R1bjebBYSf" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 120.96pt"> Management Fees </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 48pt">0.90% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 48pt">0.90% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 48pt">0.90% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 48pt">0.90% </td> </tr> <tr id="xdx_40A_eoef--DistributionAndService12b1FeesOverAssets_dpn_zeo6UoGYQPgc" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Distribution and Service (12b-1) Fees </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">None </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.25% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">None </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">None </td> </tr> <tr id="xdx_406_eoef--OtherExpensesOverAssets_dpn_z3AAZlLytqY1" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Other Expenses </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.24% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.26% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.15% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.15% </td> </tr> <tr id="xdx_40E_eoef--Component1OtherExpensesOverAssets_dpn_zy537hVIRuAf" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Previously Waived Fees and/or Reimbursed Expenses Recovered1 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.01% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">None </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">None </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">None </td> </tr> <tr id="xdx_40D_eoef--Component2OtherExpensesOverAssets_dpn_z30G6WtdPOec" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Other Operating Expenses </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.23% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.26% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.15% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.15% </td> </tr> <tr id="xdx_40F_eoef--AcquiredFundFeesAndExpensesOverAssets_dpn_zQLOze1wQ1R6" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Acquired Fund Fees and Expenses </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.01% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.01% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.01% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.01% </td> </tr> <tr id="xdx_407_eoef--ExpensesOverAssets_dpn_zfDWFlflx1nf" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Total Annual Fund Operating Expenses2 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.15% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.42% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.06% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.06% </td> </tr> <tr id="xdx_40B_eoef--FeeWaiverOrReimbursementOverAssets_dpn_zxTI9rC80wke" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Less Fee Waiver and/or Expense Reimbursement1 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">None </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">(0.01)% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">(0.05)% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">(0.95)% </td> </tr> <tr id="xdx_40C_eoef--NetExpensesOverAssets_dpn_z9Wm0CxAkxka" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement2 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.15% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.41% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.01% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.11% </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; display: none; visibility: hidden; color: #262626; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">1</td><td style="width: 5pt"></td><td style="text-align: justify">Manning & Napier Advisors, LLC (the Advisor or Manning & Napier) has contractually agreed to waive the management fee for the Class W shares. In addition, pursuant to a separate expense limitation agreement, the Advisor has contractually agreed to limit its fees and reimburse expenses to the extent necessary so that the total direct annual fund operating expenses of each Class, exclusive of Distribution and Service (12b-1) Fees and waived Class W management fees (collectively, “excluded expenses”), do not exceed 1.15% of the average daily net assets of the Class I and Class S shares, and 1.00% of the average daily net assets of the Class Z shares, and 0.10% of the average daily net assets of the Class W shares. These contractual waivers will continue indefinitely, and may only be amended or terminated with the approval of the Series’ Board of Directors. The Advisor’s agreement to limit each Class’s operating expenses is limited to direct operating expenses and, therefore, does not apply to acquired fund fees and expenses, which are indirect expenses incurred by the Series through its investments in other investment companies. The Advisor may receive from a Class the difference between the Class’s total direct annual fund operating expenses, not including excluded expenses, and the Class’s contractual expense limit to recoup all or a portion of its prior fee waivers (other than Class W management fee waivers) or expense reimbursements made during the rolling three-year period preceding the recoupment if at any point the total direct annual fund operating expenses, not including excluded expenses, are below the contractual expense limit (a) at the time of the fee waiver and/or expense reimbursement and (b) at the time of the recoupment.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; display: none; visibility: hidden; color: #262626; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">2</td><td style="width: 5pt"></td><td style="text-align: justify">The total annual fund operating expenses in this fee table may not correlate to the expense ratios in the financial highlights in the prospectus (and in the Series’ financial statements) because the financial highlights include only the Series’ direct operating expenses and do not include fees and expenses incurred indirectly by the Series through its investments in other investment companies.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; color: #262626; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">1</td><td style="width: 5pt"></td><td style="text-align: justify">Manning & Napier Advisors, LLC (the Advisor or Manning & Napier) has contractually agreed to waive the management fee for the Class W shares. In addition, pursuant to a separate expense limitation agreement, the Advisor has contractually agreed to limit its fees and reimburse expenses to the extent necessary so that the total direct annual fund operating expenses of each Class, exclusive of Distribution and Service (12b-1) Fees and waived Class W management fees (collectively, “excluded expenses”), do not exceed 1.15% of the average daily net assets of the Class I and Class S shares, and 1.00% of the average daily net assets of the Class Z shares, and 0.10% of the average daily net assets of the Class W shares. These contractual waivers will continue indefinitely, and may only be amended or terminated with the approval of the Series’ Board of Directors. The Advisor’s agreement to limit each Class’s operating expenses is limited to direct operating expenses and, therefore, does not apply to acquired fund fees and expenses, which are indirect expenses incurred by the Series through its investments in other investment companies. The Advisor may receive from a Class the difference between the Class’s total direct annual fund</td> </tr></table> <div></div> <table cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; color: #262626; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"></td><td style="width: 5pt"></td><td style="text-align: justify">operating expenses, not including excluded expenses, and the Class’s contractual expense limit to recoup all or a portion of its prior fee waivers (other than Class W management fee waivers) or expense reimbursements made during the rolling three-year period preceding the recoupment if at any point the total direct annual fund operating expenses, not including excluded expenses, are below the contractual expense limit (a) at the time of the fee waiver and/or expense reimbursement and (b) at the time of the recoupment.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; color: #262626; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">2</td><td style="width: 5pt"></td><td style="text-align: justify">The total annual fund operating expenses in this fee table may not correlate to the expense ratios in the financial highlights in the prospectus (and in the Series’ financial statements) because the financial highlights include only the Series’ direct operating expenses and do not include fees and expenses incurred indirectly by the Series through its investments in other investment companies.</td> </tr></table> 0.0090 0.0090 0.0090 0.0090 0 0.0025 0 0 0.0024 0.0026 0.0015 0.0015 0.0001 0 0 0 0.0023 0.0026 0.0015 0.0015 0.0001 0.0001 0.0001 0.0001 0.0115 0.0142 0.0106 0.0106 0 -0.0001 -0.0005 -0.0095 0.0115 0.0141 0.0101 0.0011 The total annual fund operating expenses in this fee table may not correlate to the expense ratios in the financial highlights in the prospectus (and in the Series’ financial statements) because the financial highlights include only the Series’ direct operating expenses and do not include fees and expenses incurred indirectly by the Series through its investments in other investment companies. Example <p id="xdx_A86_eoef--ExpenseExampleNarrativeTextBlock_z1Q58k0eMkv8" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The Example below is intended to help you compare the cost of investing in the Series with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Series for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Series’ operating expenses remain the same (taking into account the Advisor’s contractual waivers). Although your actual costs may be higher or lower, based on these assumptions your costs would be: <div id="xdx_A80_eoef--ExpenseExampleWithRedemptionTableTextBlock_zbvLVxXAA4Yj"></div> <table id="xdx_A5D_dU_zQyCLXacLAk1" style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 140.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 43.19pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 43.19pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 43.19pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 43.19pt"> </td> </tr> </table> <table id="xdx_A5D_dU_zQyCLXacXAk1" style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="min-height: 3pt"> <td style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse; width: 140.4pt"> CLASS </td> <td id="xdx_491_20260227__20260227__oef--ClassAxis__custom--C000190099Member_zLKBE2vDgx1k" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse; width: 43.19pt"> I </td> <td id="xdx_492_20260227__20260227__oef--ClassAxis__custom--C000190100Member_z9KMfw2bEa08" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse; width: 43.19pt"> S </td> <td id="xdx_49B_20260227__20260227__oef--ClassAxis__custom--C000190101Member_zolP3MIboUp6" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse; width: 43.19pt"> Z </td> <td id="xdx_495_20260227__20260227__oef--ClassAxis__custom--C000206468Member_zJc0WC2osb58" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse; width: 43.19pt"> W </td> </tr> <tr id="xdx_404_eoef--ExpenseExampleYear01_z9H2sYJ3BfU8" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 1 Year </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$117 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$143 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$103 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$11 </td> </tr> <tr id="xdx_406_eoef--ExpenseExampleYear03_zkSL1A7SfHK2" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 3 Years </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$365 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$446 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$321 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$35 </td> </tr> <tr id="xdx_402_eoef--ExpenseExampleYear05_zKhHnQ23vFyl" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 5 Years </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$632 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$771 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$557 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$62 </td> </tr> <tr id="xdx_40D_eoef--ExpenseExampleYear10_zxvQEueQJieb" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 10 Years </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$1,398 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$1,690 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$1,234 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$140 </td> </tr> </table> 117 143 103 11 365 446 321 35 632 771 557 62 1398 1690 1234 140 Portfolio Turnover The Series pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Series shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the performance of the Series. During the most recent fiscal year, the portfolio turnover rate of the Series was 64% of the average value of its portfolio. 0.64 Principal Investment Strategies <p id="xdx_A85_eoef--StrategyNarrativeTextBlock_gRBSNTB-BMT_zTqS7t3ZG0Te" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Under normal conditions, the Series will invest primarily in equity securities of foreign developed and emerging market companies that are small- to mid-sized at the time of purchase. In selecting securities for purchase in the Series, Rainier Investment Management, LLC (Rainier), the sub-advisor of the Series, focuses on companies that it believes have clear catalysts for positive change; sustainable competitive advantages; strong market positions; disciplined management; and attractive relative valuations. Rainier selects stocks of companies it believes will increase in value over time and makes investment decisions based primarily on an analysis of individual companies, rather than on broad economic forecasts. Rainier believes that, over the long term, stock price movements follow growth in earnings, revenues and/or cash flow. In normal market conditions, the Series’ portfolio will primarily consist of securities of companies with earnings or revenue growth that Rainier attributes to solid or improving fundamentals. The equity securities in which the Series invests include U.S. dollar and non-U.S. dollar denominated common stock, preferred stock and depository receipts, securities convertible into common stock (including convertible bonds, warrants, and rights), initial public offerings (IPOs), real estate investment trusts (REITs), and instruments with economic characteristics similar to equity securities (including participatory notes and exchange-traded funds (ETFs)). Depository receipts (including American Depository Receipts (ADRs), Global Depository Receipts (GDRs), and International Depository Receipts (IDRs)) are securities listed and traded on U.S. and non-U.S. exchanges that represent ownership interests in securities of foreign companies. Participatory notes are derivative instruments that may be used by the Series to replicate equity exposure in certain foreign markets where direct investment is either impossible or difficult due to local investment restrictions. The Series will generally not invest more than 25% of its net assets in participatory notes at the time of purchase. The Series considers a company to be a foreign company if it meets one or more of the following criteria: (i) at least 50% of the company’s assets are located outside of the U.S.; (ii) at least 50% of the company’s revenue is generated outside of the U.S.; or (iii) the company is organized or maintains its principal place of business outside of the U.S. The Series is not required to invest a specified portion of its net assets in any particular geographic region, and will typically invest in at least three foreign countries at any time. The Series will generally not invest more than 50% of its net assets in emerging market issuers. The Series is diversified and will generally hold between 60 and 120 securities. The Series may sell a security if it reaches or surpasses its price or valuation target, when the underlying fundamentals deteriorate as compared to Rainier’s expectations, or when Rainier perceives there to be better opportunities in alternative securities. The Series may buy and sell investments frequently in seeking to achieve its objective. The Series’ investment strategy may involve allocating large portions of the Series’ portfolio to industry sectors which meet Rainier’s investment criteria. Under normal circumstances, up to 10% of the Series’ net assets may be held in cash, money market instruments, or other cash equivalents at Rainier’s discretion to facilitate its management of the Series’ portfolio and cash flows. Under normal conditions, the Series will invest primarily in equity securities of foreign developed and emerging market companies that are small- to mid-sized at the time of purchase. You could lose money by investing in the Series. <p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zbr2fsl5Md6f" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Management risk — The value of your investment may decline if Rainier’s judgments about the attractiveness, relative value or potential appreciation of a particular security or strategy prove to be incorrect. <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_z1DXrRT6fiHc" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Market risk — Because the Series invests in stocks, the value of your investment will fluctuate in response to stock market movements. This means that you could lose money on your investment in the Series or the Series could underperform if any of the following occurs: • U.S. and/or foreign stock markets decline. • An adverse event, such as an unfavorable earnings report, depresses the value of one or more of the Series’ portfolio holdings. • An epidemic, pandemic or natural disaster, or widespread fear that such events may occur, negatively affects the global economy, as well as the economies of individual countries, the financial performance of individual companies and sectors, and the markets in general in significant and unforeseen ways. Any such impact could adversely affect the prices and liquidity of the securities and other instruments in which the Series invests. <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignSecuritiesRiskMember_zkDc0SFmPd01" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Foreign securities risk — Because the Series may invest in securities of foreign issuers, the Series is subject to additional risks. These include risks of adverse changes in foreign economic, political, regulatory and other conditions. The prices of foreign common stocks may, at times, move in a different direction than the prices of U.S. stocks. The Series’ investments may be denominated in the currencies of the countries in which they are located; therefore, the value of the Series may be affected by changes in exchange rates between those foreign currencies and the U.S. dollar. In addition, periodic U.S. Government restrictions on investments in issuers from certain foreign countries may require the Series to sell such investments at inopportune times or prevent an investment the Advisor otherwise believes is attractive, each of which could result in losses to the Series. These restrictions may also negatively impact the market for securities of issuers that are similar to those directly impacted by the restrictions resulting in reduced liquidity and price declines in those securities as well. <p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--EmergingMarketsRiskMember_gRBRTB-VQYI_zNxktPY4yaVd" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Emerging markets risk — The Series may also have special risks due to its investments in emerging market countries. In addition to the risks discussed above relating to investments in foreign companies located in developed countries, the Series’ investments in emerging market countries are subject to the following risks: • Emerging markets may be more likely to experience political turmoil or rapid changes in market or economic conditions than more developed countries. •Emerging market countries often have less uniformity in accounting and reporting requirements and unreliable securities valuation. • It is sometimes difficult to obtain and enforce court judgments in emerging market countries and there is often a greater potential for nationalization and/or expropriation of assets by the government of an emerging market country. • There will tend to be an increased risk of price volatility associated with the Series’ investments in emerging market countries, which may be magnified by currency fluctuations relative to the U.S. dollar. <p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallAndMidCapRiskMember_zicxpx40PEFe" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt 32.4pt; text-transform: none; color: #262626; text-indent: -10.8pt; text-align: left">Small- and mid-cap risk — The Series may also have special risks due to its investments in stocks of small- and mid-size companies. These risks include the following: • The stocks of small- and mid-size companies may be subject to more abrupt or erratic market movements than the stocks of larger companies. • The stocks of small- and mid-size companies may be subject to liquidity risk because such stocks may have lower trading volume and be less marketable than the stocks of larger companies. Liquidity risk is further described below. • Small- and mid-size companies may have limited product lines, markets, or financial resources, and they may depend on a small management group. As a result, they fail more often than larger companies. <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--PreferredStockRiskMember_zpaPfzVVeWNh" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Preferred stock risk — Preferred stocks are sensitive to interest rate changes, and are also subject to equity market risk, which is the risk that stock prices will fluctuate and can decline and reduce the value of the Series’ investment. The rights of preferred stocks on the distribution of a corporation’s assets in the event of a liquidation are generally subordinate to the rights associated with a corporation’s debt securities. Preferred stock may also be subject to prepayment risk similar to fixed income securities. <p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--ConvertibleSecuritiesRiskMember_zctPr34lbtE2" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Convertible securities risk — The Series’ investments in convertible securities are subject to interest rate risk and credit risk, similar to fixed income securities. In addition, they are also subject to the risk that the price of the underlying common stock will go down, which may cause a proportionate (or disproportionate) decline in the price of the convertible security. <p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--RightsAndWarrantsRiskMember_zrl3PsNZHyU4" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Rights and warrants risk — Investments in rights or warrants involve the risk of loss of the purchase value of a right or warrant if the right to subscribe to additional shares is not exercised prior to the right’s or warrant’s expiration. Also, the purchase of rights and/or warrants involves the risk that the effective price paid for the right and/or warrant added to the subscription price of the underlying security may exceed the market price of the underlying security in instances such as those where there is no movement in the price of the underlying security. <p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--RiskOfInitialPublicOfferingsMember_zWpZhaT7g3q8" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Risk of initial public offerings — The Series may purchase shares issued as part of, or a short period after, a company’s initial public offering (IPO), and may at times dispose of those shares shortly after their acquisition. The Series’ purchase of shares issued in IPOs exposes it to the risks associated with companies that have little operating history as public companies, as well as to the risks inherent in those sectors of the market where these new issuers operate. The market for IPO issuers has been volatile, and share prices of newly-public companies have fluctuated significantly over short periods of time. <p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--RealEstateSecuritiesRiskMember_zz82pXmToTqb" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Real estate securities risk — The Series’ holdings in securities of issuers in the real estate industry, including investments in REITs, may subject it to additional risks even though the Series does not invest directly in real estate. These risks include, but are not limited to, the following: fluctuations in the value of real estate properties and interest rates, defaults by borrowers or tenants, extended vacancies and declining rents, a lack of ability to obtain mortgage financing or other limits to accessing the credit or capital markets, increased competition and overbuilding, and increases in real estate or operating taxes. Any geographic concentration of the Series’ real estate related investments could result in the Series being subject to the above risks to a greater degree. In addition, REITs have their own expenses, and the Series will bear a proportionate share of those expenses. <p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--RisksRelatedToETFsMember_zYZ4hh8yw17g" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Risks related to ETFs — The risks of owning shares of an ETF generally reflect the risks of owning the underlying securities the ETF is designed to track, although lack of liquidity in an ETF could result in its value being more volatile than the underlying portfolio of securities. The Series will also bear its proportionate share of the expenses of the purchased ETF in addition to its own expenses. <p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--ParticipatoryNotesRiskMember_zsdgKeBaOTr5" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Participatory notes risk — The return on a participatory note (P-Note) is linked to the performance of the issuers of the underlying securities. The performance of P-Notes will not replicate exactly the performance of the issuers that they seek to replicate due to transaction costs and other expenses. P-Notes are subject to counterparty risk since the notes constitute general unsecured contractual obligations of the financial institutions issuing the notes, and the Series is relying on the creditworthiness of such institutions and has no rights under the notes against the issuers of the underlying securities. In addition, P-Notes are subject to liquidity risk, which is described below. <p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--GrowthInvestingRiskMember_zjlC4ykPQfZ1" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">“Growth” investing risk — Growth stocks can be volatile for several reasons. The prices of growth stocks are based largely on projections of the issuer’s future earnings and revenues. If a company’s earnings or revenues fall short of expectations, its stock price may fall dramatically. Growth stocks may be more expensive relative to their earnings or assets compared to value or other stocks. <p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--ValueInvestingRiskMember_z4cy1hKrJpMj" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">“Value” investing risk — A “value” style of investing could cause the Series to suffer losses or produce poor performance relative to other funds, even in a rising market, if Rainier’s assessment of market conditions or a company’s value or prospects for exceeding earnings expectations is inaccurate. In addition, value stocks can continue to be undervalued by the market for long periods of time. <p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--MoneyMarketInstrumentsRiskMember_zuVm0NjBwng" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Money market instruments risk — The value of money market instruments may be affected by changing interest rates and by changes in the credit ratings of the investments. An investment in a money market fund is not a bank deposit and is not insured or guaranteed by any bank, the Federal Deposit Insurance Corporation (FDIC) or any other government agency. A money market fund’s sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time. <p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorFocusRiskMember_zTJ5TKdk77N5" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Sector focus risk — Because the Series’ investments may, from time to time, be more heavily invested in a particular sector or sectors, the value of its shares may be especially sensitive to factors and economic risks that specifically affect those sectors. As a result, the Series’ share price may fluctuate more widely than the value of shares of a mutual fund that invests in a broader range of sectors. <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--LiquidityRiskMember_zaT42IYxfgU5" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Liquidity risk — The Series is subject to the risk that, at certain times, its securities may be difficult or impossible to sell at the time and the price that the Series would like. The Series may have to lower the price, sell other securities instead or forego an investment opportunity, any of which could have a negative effect on the Series’ management or performance. <p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeRedemptionRiskMember_zWzO3VPRkLI" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Large redemption risk — Certain institutions or individuals may from time to time own (beneficially or of record) or control a significant percentage of the Series’ shares. Redemptions by these institutions or individuals in the Series may impact the Series’ liquidity and net asset value (NAV). These redemptions may also force the Series to sell securities, which may cause the Series to experience a loss (particularly during periods of declining or illiquid markets), as well as cause the Series’ portfolio turnover rate and transaction costs to rise, which may negatively affect the Series’ performance and increase the likelihood of capital gain distributions for remaining shareholders. Summary of Past Performance <p id="xdx_A82_eoef--PerformanceNarrativeTextBlock_gRBPNTB-AUZ_zfBvJtSRKPO7" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The bar chart and average annual total return table provide some indication of the risks of investing in the Series. The bar chart shows the variability in the performance of the Series by showing changes in the performance of the Class I Shares of the Series from year to year. The total return table shows how the average annual total returns for the Series for different periods compare to those of a broad-based securities index. The Series operated as the Rainier International Discovery Fund (the “Predecessor Fund”), a series of Rainier Investment Management Mutual Funds, prior to the Series’ acquisition of the assets and assumption of the liabilities of the Predecessor Fund on August 21, 2017 (the “Reorganization”). Performance figures for periods prior to the Reorganization reflect the performance of Institutional Shares and Class A Shares of the Predecessor Fund, which were reorganized into Class I Shares and Class S Shares, respectively. The performance figures do not reflect the sales charges that Predecessor Fund shareholders were charged on certain purchases of Class A Shares, and have not been adjusted to reflect the Series’ expenses. If the sales charges were reflected, Class S Shares returns would be lower than those shown. If the Predecessor Fund’s performance information had been adjusted to reflect the Series’ expenses, the performance may have been higher or lower for a given period depending on the expenses incurred by the Predecessor Fund for that period. The Series’ Class Z shares commenced operations on August 21, 2017, and all performance below for periods prior to that date reflects the performance of the Predecessor Fund’s Institutional Class Shares. The Series’ Class W Shares commenced operations on March 1, 2019 and all returns shown for Class W Shares include the returns of the Series’ Class I Shares for periods prior to its inception date. Past performance (both before and after taxes) does not necessarily indicate how the Series will perform in the future. Quarterly updated performance information of the Series is available at www.manning-napier.com. The bar chart and average annual total return table provide some indication of the risks of investing in the Series. Past performance (both before and after taxes) does not necessarily indicate how the Series will perform in the future. www.manning-napier.com CALENDAR YEARS ENDED DECEMBER 31 <div id="xdx_A81_eoef--BarChartTableTextBlock_zNISopLir9sa"></div> <table border="0" cellpadding="0" cellspacing="0" id="xdx_A5A_zirVDXFi2kvk" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse; display: none" summary="xdx: Disclosure - Annual Total Returns"> <tr style="vertical-align: top"> <td style="font-weight: bold; text-align: left; width: 50%"> </td> <td id="xdx_484_eoef--AnnlRtrPct_dp_hoef--ClassAxis__custom--C000190099Member_z9R0p3wjIqhh" style="text-align: left; width: 50%"> </td></tr> <tr id="xdx_416_20160101__20161231_zgp6HVxq5rW9" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2016</td> <td style="text-align: left">-6.55%</td></tr> <tr id="xdx_419_20170101__20171231_zeLbl1N2Uqg8" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2017</td> <td style="text-align: left">42.04%</td></tr> <tr id="xdx_41E_20180101__20181231_z6usyxd0RdC4" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2018</td> <td style="text-align: left">-18.02%</td></tr> <tr id="xdx_41D_20190101__20191231_zLFBLBL7OIig" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2019</td> <td style="text-align: left">24.94%</td></tr> <tr id="xdx_410_20200101__20201231_zRIgEz0EIR07" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2020</td> <td style="text-align: left">41.43%</td></tr> <tr id="xdx_414_20210101__20211231_zZl8F63BC0X5" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2021</td> <td style="text-align: left">14.27%</td></tr> <tr id="xdx_418_20220101__20221231_zgxY3kZNTMqj" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2022</td> <td style="text-align: left">-30.41%</td></tr> <tr id="xdx_41A_20230101__20231231_zfC0WR2caazg" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2023</td> <td style="text-align: left">6.53%</td></tr> <tr id="xdx_411_20240101__20241231_zspyKPC7iYsk" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2024</td> <td style="text-align: left">0.62%</td></tr> <tr id="xdx_416_20250101__20251231_zXWRVyL5xNPg" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2025</td> <td style="text-align: left">27.01%</td></tr> </table> <div style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left"> <div style="border-width: 0pt; padding: 0pt; overflow: hidden; display: inline-block; width: 313.2pt; height: 188.29pt; text-align: left"> <img alt="" src="rainier-proimg003.gif" style="vertical-align: top; margin-left: 0pt; width: 312pt; margin-top: 0pt; height: 188.4pt"/> </div> </div> -0.0655 0.4204 -0.1802 0.2494 0.4143 0.1427 -0.3041 0.0653 0.0062 0.2701 <p id="xdx_A81_eoef--BarChartClosingTextBlock_z36z2YjPTPf6" style="font: 12pt/normal Times New Roman, Times, serif; margin: 4pt 0pt 0pt; text-transform: none; color: #328345; text-indent: 0pt; text-align: left">Quarterly Returns Highest (quarter ended 06/30/2020): 28.98% Lowest (quarter ended 03/31/2020): (19.83)% Highest 2020-06-30 0.2898 Lowest 2020-03-31 -0.1983 <div id="xdx_A81_eoef--PerformanceTableTextBlock_zgvgoLIVC9Tg"></div> <table style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 151.2pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 54pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 54pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 54pt"> </td> </tr> <tr style="min-height: 3pt"> <td colspan="4" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> AVERAGE ANNUAL TOTAL RETURNS  FOR PERIODS ENDED DECEMBER 31, 2025 </td> </tr> </table> <div></div> <table id="xdx_A59_dU_ziHSTKazGzl3" style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 151.2pt"> </td> <td id="xdx_497_20250101__20251231_z0VPkEw1Sq5i" style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 54pt"> 1 Year </td> <td id="xdx_496_20210101__20251231_zgreFOpe6Ue7" style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 54pt"> 5 Years </td> <td id="xdx_495_20160101__20251231_z6b1iJSyHqVb" style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 54pt"> 10 Years </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class I Shares </td> <td style="border-bottom: #262626 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #262626 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #262626 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> </tr> <tr id="xdx_40E_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000190099Member_z7EGvVIoqXZe" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return Before Taxes </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">27.01% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.60% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">7.61% </td> </tr> <tr id="xdx_406_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000190099Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_z2GAzWQGdkYb" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return After Taxes on Distributions </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">26.35% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.19% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">7.37% </td> </tr> <tr id="xdx_40B_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000190099Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zFILpDBu8Yi" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return After Taxes on Distributions and Sale of Series Shares </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">16.75% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.52% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">6.40% </td> </tr> <tr id="xdx_403_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000190100Member_zFTrLd8zbyJ3" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class S Shares — Return Before Taxes </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">26.73% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.34% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">7.33% </td> </tr> <tr id="xdx_408_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000206468Member_zhxVN5jRVjmh" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class W Shares — Return Before Taxes </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">28.37% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">2.67% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">8.38% </td> </tr> <tr id="xdx_401_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000190101Member_zisBEzD8Vpli" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class Z Shares — Return Before Taxes </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">27.23% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.75% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">7.74% </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Indices: (reflect no deduction for fees, expenses or taxes) </td> <td style="border-bottom: #262626 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #262626 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #262626 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> </tr> <tr id="xdx_405_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--MSCIACWIexUSAIndexMember_zDb2S1C6d8r8" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> MSCI ACWI ex USA Index </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">32.39% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">7.91% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">8.41% </td> </tr> <tr id="xdx_403_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--MSCIACWIexUSASmallCapIndexMember_zXg8vJMJphBh" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> MSCI ACWI ex USA Small Cap Index </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">29.26% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">6.91% </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">8.13% </td> </tr> </table> AVERAGE ANNUAL TOTAL RETURNS FOR PERIODS ENDED DECEMBER 31, 2025 0.2701 0.0160 0.0761 0.2635 0.0119 0.0737 0.1675 0.0152 0.0640 0.2673 0.0134 0.0733 0.2837 0.0267 0.0838 0.2723 0.0175 0.0774 (reflect no deduction for fees, expenses or taxes) 0.3239 0.0791 0.0841 0.2926 0.0691 0.0813 <p id="xdx_A88_eoef--PerformanceTableClosingTextBlock_zIEDpyYil7W1" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. The after-tax figures are shown for one share class only, and would be different for the other share classes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold their Series shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. The after-tax figures are shown for one share class only, and would be different for the other share classes. After-tax returns are not relevant to investors who hold their Series shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Pro-Blend® Conservative Term Series Investment Goal The Series’ primary objective is to provide preservation of capital and its secondary objectives are to provide income and long-term growth of capital. Fees and Expenses This table describes the fees and expenses you may pay if you buy, hold, and sell shares of the Series. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below. <div id="xdx_A81_eoef--ShareholderFeesTableTextBlock_zF4ZYNwXlSF2"></div> <table id="xdx_A54_dU_zpexS1Vz1RW5" style="table-layout: fixed; width: 648pt; margin-top: 0pt; margin-bottom: 0pt; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 360pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 57.59pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 57.59pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 57.59pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 57.59pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 57.59pt"> </td> </tr> </table> <table style="width: 648pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="min-height: 3pt"> <td style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse; width: 360pt"> CLASS </td> <td id="xdx_492_20260227__20260227__oef--ClassAxis__custom--C000010087Member_zo8IA4g5GF46" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse; width: 57.59pt"> S </td> <td id="xdx_497_20260227__20260227__oef--ClassAxis__custom--C000059952Member_zbV9VgZXRKzh" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse; width: 57.59pt"> I </td> <td id="xdx_496_20260227__20260227__oef--ClassAxis__custom--C000010085Member_z5q6gkocpXKj" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse; width: 57.59pt"> R </td> <td id="xdx_49C_20260227__20260227__oef--ClassAxis__custom--C000010083Member_zchYgndmvXhb" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse; width: 57.59pt"> L </td> <td id="xdx_49A_20260227__20260227__oef--ClassAxis__custom--C000010084Member_zEQsraa5OAYc" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse; width: 57.59pt"> Z </td> </tr> <tr id="xdx_403_eoef--ShareholderFeeOther_dn_z7zj3DE1kxz2" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_98B_eoef--ShareholderFeesCaption_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003625Member_z36Y1HwapjG9" style="font: 8pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Shareholder Fees (fees paid directly from your investment) </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> </tr> </table> Shareholder Fees (fees paid directly from your investment) 0 0 0 0 0 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) <div id="xdx_A88_eoef--AnnualFundOperatingExpensesTableTextBlock_zgoZefh1FSKg"></div> <table id="xdx_A54_dU_zcLv4gD4HBn4" style="width: 648pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="min-height: 3pt"> <td style="padding-right: 6pt; padding-left: 6pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_49A_20260227__20260227__oef--ClassAxis__custom--C000010087Member_z2Xt7jTXUFrc" style="padding-right: 6pt; padding-left: 6pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_499_20260227__20260227__oef--ClassAxis__custom--C000059952Member_z8tOXcJ1bnle" style="padding-right: 6pt; padding-left: 6pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_496_20260227__20260227__oef--ClassAxis__custom--C000010085Member_zDce4FRIQFbk" style="padding-right: 6pt; padding-left: 6pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_499_20260227__20260227__oef--ClassAxis__custom--C000010083Member_zr1E9c3Ewxm5" style="padding-right: 6pt; padding-left: 6pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_497_20260227__20260227__oef--ClassAxis__custom--C000010084Member_z48mF7nm6IY1" style="padding-right: 6pt; padding-left: 6pt; vertical-align: bottom; border-collapse: collapse"> </td></tr> <tr id="xdx_40A_eoef--ManagementFeesOverAssets_dpn_zDfV3YszPZsc" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding-right: 6pt; padding-bottom: 3pt; padding-left: 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 360pt"> Management Fees </td> <td style="border-bottom: #000000 0.5pt solid; padding-right: 6pt; padding-bottom: 3pt; padding-left: 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 57.59pt"> 0.40% </td> <td style="border-bottom: #000000 0.5pt solid; padding-right: 6pt; padding-bottom: 3pt; padding-left: 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 57.59pt"> 0.40% </td> <td style="border-bottom: #000000 0.5pt solid; padding-right: 6pt; padding-bottom: 3pt; padding-left: 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 57.59pt"> 0.40% </td> <td style="border-bottom: #000000 0.5pt solid; padding-right: 6pt; padding-bottom: 3pt; padding-left: 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 57.59pt"> 0.40% </td> <td style="border-bottom: #000000 0.5pt solid; padding-right: 6pt; padding-bottom: 3pt; padding-left: 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 57.59pt"> 0.40% </td> </tr> <tr id="xdx_40A_eoef--DistributionAndService12b1FeesOverAssets_dpn_zDinydZa5i61" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Distribution and Service (12b-1) Fees </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.25% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.50% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 1.00% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> </tr> <tr id="xdx_406_eoef--OtherExpensesOverAssets_dpn_zGyPmTLXvSKg" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Other Expenses </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.25% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.25% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.20% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.22% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.16% </td> </tr> <tr id="xdx_40E_eoef--Component1OtherExpensesOverAssets_dpn_zHhbK5YyCt68" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Previously Waived Fees and/or Reimbursed Expenses Recovered1 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.00%* </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> </tr> <tr id="xdx_40D_eoef--Component2OtherExpensesOverAssets_dpn_zBJgxeKpAR8" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Other Operating Expenses </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.25% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.25% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.20% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.22% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.16% </td> </tr> <tr id="xdx_407_eoef--ExpensesOverAssets_dpn_z8TkhauM5vz4" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Total Annual Fund Operating Expenses </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.90% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.65% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 1.10% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 1.62% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.56% </td> </tr> <tr id="xdx_40B_eoef--FeeWaiverOrReimbursementOverAssets_dpn_zhBRHwN6llwi" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Less Fee Waiver and/or Expense Reimbursement1 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.00%* </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> (0.06)% </td> </tr> <tr id="xdx_40C_eoef--NetExpensesOverAssets_dpn_zOnu2SBO9Ba8" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.90% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.65% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 1.10% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 1.62% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.50% </td> </tr> </table> <div class="qes_column"> <table cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; color: #262626; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">1</td><td style="width: 5pt"></td><td style="text-align: justify">Manning & Napier Advisors, LLC (the Advisor or Manning & Napier) has contractually agreed to limit its fees and reimburse expenses to the extent necessary. In addition, the Advisor has contractually agreed to reimburse expenses to the extent necessary so that the total direct annual fund operating expenses, exclusive of Distribution and Service (12b-1) Fees (“excluded expenses”), do not exceed 0.65% of the average daily net assets of the Class S, Class I, Class R, and Class L shares, and 0.50% of the average daily net assets of the Class Z shares. These contractual waivers will continue indefinitely, and may only be amended or terminated with the approval of the Series’ Board of Directors. The Advisor’s agreement to limit each Class’s operating expenses is limited to direct operating expenses and, therefore, does not apply to acquired fund fees and expenses, which are indirect expenses incurred by the Series through its investments in other investment companies. The Advisor may receive from a Class the difference between the Class’s total direct annual fund operating expenses, not including excluded expenses, and the Class’s contractual expense limit to recoup all or a portion of its prior fee waivers or expense reimbursements made during the rolling three-year period (i.e., the three year period following a waiver or reimbursement) preceding the recoupment if at any point the total direct annual fund operating expenses, not including excluded expenses, are below the contractual expense limit (a) at the time of the fee waiver and/or expense reimbursement and (b) at the time of the recoupment.</td> </tr></table> </div> <div class="qes_column"> <table cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; color: #262626; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">*</td><td style="width: 5pt"></td><td style="text-align: justify">Less than 0.01%.</td> </tr></table> </div> 0.0040 0.0040 0.0040 0.0040 0.0040 0.0025 0 0.0050 0.0100 0 0.0025 0.0025 0.0020 0.0022 0.0016 0.0000 0 0 0 0 0.0025 0.0025 0.0020 0.0022 0.0016 0.0090 0.0065 0.0110 0.0162 0.0056 0 0.0000 0 0 -0.0006 0.0090 0.0065 0.0110 0.0162 0.0050 Example <p id="xdx_A8A_eoef--ExpenseExampleNarrativeTextBlock_z5ZfE4wpr9J9" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The Example below is intended to help you compare the cost of investing in the Series with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Series for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Series’ operating expenses remain the same (taking into account the Advisor’s contractual waivers). Although your actual costs may be higher or lower, based on these assumptions your costs would be: <div id="xdx_A84_eoef--ExpenseExampleWithRedemptionTableTextBlock_zezKoh0gcII2"></div> <table id="xdx_A55_dU_zzmKVx0PaaB" style="table-layout: fixed; width: 313.19pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> </tr> </table> <table id="xdx_A55_dU_zzmKVx0PabB" style="table-layout: fixed; width: 80%; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="min-height: 3pt"> <td style="border-width: 0pt; padding: 3pt 1pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse; width: 61.19pt"> CLASS </td> <td id="xdx_498_20260227__20260227__oef--ClassAxis__custom--C000010087Member_z43Hn6ljkhW7" style="border-width: 0pt; padding: 3pt 1pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> S </td> <td id="xdx_49A_20260227__20260227__oef--ClassAxis__custom--C000059952Member_zaEPGkd1VIG9" style="border-width: 0pt; padding: 3pt 1pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> I </td> <td id="xdx_495_20260227__20260227__oef--ClassAxis__custom--C000010085Member_zbI5ov9hlfzh" style="border-width: 0pt; padding: 3pt 1pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> R </td> <td id="xdx_495_20260227__20260227__oef--ClassAxis__custom--C000010083Member_z83g1eq63rab" style="border-width: 0pt; padding: 3pt 1pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> L </td> <td id="xdx_49D_20260227__20260227__oef--ClassAxis__custom--C000010084Member_zEIzgR9YsNFc" style="border-width: 0pt; padding: 3pt 1pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> Z </td> </tr> <tr id="xdx_40A_eoef--ExpenseExampleYear01_zApPwltQBq21" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 1pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 1 Year </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 1pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $92 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 1pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $66 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 1pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $112 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 1pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $165 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 1pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $51 </td> </tr> <tr id="xdx_404_eoef--ExpenseExampleYear03_zaaOWppeH9x" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 1pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 3 Years </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 1pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $288 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 1pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $207 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 1pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $350 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 1pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $511 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 1pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $160 </td> </tr> </table> <div style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-align: left"> <table style="table-layout: fixed; width: 313.19pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> </tr> </table> <table style="table-layout: fixed; width: 80%; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse"> <tr style="min-height: 3pt"> <td style="border-width: 0pt; padding: 3pt 1pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse; width: 61.19pt"> CLASS </td> <td id="xdx_499_20260227__20260227__oef--ClassAxis__custom--C000010087Member_zw9wSntq5AB9" style="border-width: 0pt; padding: 3pt 1pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> S </td> <td id="xdx_495_20260227__20260227__oef--ClassAxis__custom--C000059952Member_zZ6CHOSszPB" style="border-width: 0pt; padding: 3pt 1pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> I </td> <td id="xdx_49E_20260227__20260227__oef--ClassAxis__custom--C000010085Member_ztkaqfAgFaw9" style="border-width: 0pt; padding: 3pt 1pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> R </td> <td id="xdx_49E_20260227__20260227__oef--ClassAxis__custom--C000010083Member_zBNdITgSSFd7" style="border-width: 0pt; padding: 3pt 1pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> L </td> <td id="xdx_49A_20260227__20260227__oef--ClassAxis__custom--C000010084Member_zUBH0BCq3vG4" style="border-width: 0pt; padding: 3pt 1pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> Z </td> </tr> <tr id="xdx_407_eoef--ExpenseExampleYear05_zR60VrOOxHY3" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 1pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 5 Years </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 1pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $500 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 1pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $361 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 1pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $607 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 1pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $881 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 1pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $279 </td> </tr> <tr id="xdx_401_eoef--ExpenseExampleYear10_zydwORjww7Wa" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 1pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 10 Years </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 1pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $1,110 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 1pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $808 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 1pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $1,341 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 1pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $1,922 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 1pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $629 </td> </tr> </table> </div> 92 66 112 165 51 288 207 350 511 160 500 361 607 881 279 1110 808 1341 1922 629 Portfolio Turnover The Series pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Series shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the performance of the Series. During the most recent fiscal year, the portfolio turnover rate of the Series was 48% of the average value of its portfolio. 0.48 Principal Investment Strategies In pursuit of the Series’ primary goal, the Advisor seeks to protect capital while generating income and seeking growth opportunities as secondary priorities. The Series invests primarily in fixed income securities, including U.S. Treasury securities and U.S. and foreign mortgage-backed and asset-backed securities and corporate bonds. The Series is not subject to any duration or maturity restrictions and will vary its average dollar weighted portfolio maturity depending on the Advisor’s outlook for yields. The Series invests primarily in investment grade securities, those securities rated BBB- or above by S&P or Baa3 or above by Moody’s (or determined to be of equivalent quality by the Advisor), but may also invest in non-investment grade securities (junk bonds). The Series may also invest in U.S. and foreign stocks, including those in emerging markets, American Depository Receipts (ADRs), and derivative instruments (as described below). The Series may invest in stocks of small-, large-, or mid-size companies. There are no prescribed limits on the sector allocations of the Series’ investments and, from time to time, the Series may focus its investments in one or more sectors. When the Advisor wishes to purchase or sell a security at a specified price, it may seek to generate additional gains for the Series by writing (selling) options on the underlying security, targeting options with premiums that are believed to offer sufficient income to compensate the Series for the risks associated with the option. Options are written only on stocks that the Advisor is planning to buy (in the case of puts) or sell (in the case of calls). In addition, the Series may buy and sell futures contracts based on fixed income securities, interest rates, and currencies, to seek to enhance returns, manage duration, hedge interest rate risk, and reduce volatility. The Advisor may target fixed income futures that are believed to offer the Series the opportunity to more efficiently manage duration and gain exposure to certain markets. The Advisor will consider selling a security if: <table cellpadding="0" cellspacing="0" style="font: 9pt/normal Arial, sans-serif; color: #262626; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.15in"></td><td style="width: 0.15in; text-align: left">•</td><td style="text-align: justify">it no longer fits the Series’ investment strategies or the Advisor’s investment thesis;</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 9pt/normal Arial, sans-serif; color: #262626; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.15in"></td><td style="width: 0.15in; text-align: left">•</td><td style="text-align: justify">it has reached the Advisor’s target sell price or no longer fits the Advisor’s valuation discipline; or</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 9pt/normal Arial, sans-serif; color: #262626; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.15in"></td><td style="width: 0.15in; text-align: left">•</td><td style="text-align: justify"> a more attractive investment opportunity is identified.</td> </tr></table> The words “Conservative Term” in the Series’ name describe the investment horizon of those investors who may want to consider investing in the Series and do not reflect the Series’ maturity restrictions with respect to its investments in fixed income securities. Please see the “More Information About the Series’ Principal Investment Strategies and Principal Risks” section of the prospectus for the historical high and low equity exposures of the Series. You could lose money by investing in the Series. <p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zZpucXkug9qi" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Management risk — The value of your investment may decline if the Advisor’s judgments about the attractiveness, relative value or potential appreciation of a particular security or strategy prove to be incorrect. Because a portion of the Series’ portfolio is selected using a systematic process, the Series is subject to the additional risk that the Advisor’s judgments regarding the investment criteria underlying the systematic process may prove to be incorrect. <p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_gRBRTB-THZ_zGcpU38bvq1j" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Market risk — Because the Series invests in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. This means that you could lose money on your investment in the Series or the Series could underperform if any of the following occurs: •U.S. and/or foreign stock or bond markets decline. •An adverse event, such as an unfavorable earnings report, depresses the value of one or more of the Series’ portfolio holdings. •The issuer of a bond owned by the Series defaults on its obligation to pay principal and/or interest or has its credit rating downgraded; this risk is greater for lower-rated investment grade securities and junk bonds. •Interest rates rise, credit spreads widen, and/or repayment spreads widen. These events alone or in combination can cause bond prices to fall and reduce the value of the Series’ portfolio. Longer-term bonds will experience greater fluctuations than shorter-term bonds given their greater sensitivity to interest rate changes. •Market volatility and/or prepayment spreads change to such a degree that prepayment uncertainty/risks are reassessed; the greater the uncertainty/risk, the wider the requisite prepayment spread. •An epidemic, pandemic or natural disaster, or widespread fear that such events may occur, negatively affects the global economy, as well as the economies of individual countries, the financial performance of individual companies and sectors, and the markets in general in significant and unforeseen ways. Any such impact could adversely affect the prices and liquidity of the securities and other instruments in which the Series invests. Current market conditions may pose heightened risks for the Series. Interest rates in the U.S. are coming off historic lows, but recent changes in government policy, have caused interest rates to rise and there is an increased risk that interest rates will continue to rise in the near future. An increase in interest rates may, in turn, increase volatility and reduce liquidity in the fixed income markets, and result in a decline in the value of the fixed income investments held by the Series. In addition, reductions in dealer market-making capacity as a result of structural or regulatory changes could further decrease liquidity and/or increase volatility in the fixed income markets. As a result of these conditions, the Series’ value may fluctuate and/or the Series may experience increased redemptions from shareholders, which may impact the Series’ liquidity or force the Series to sell securities into a declining or illiquid market. <p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignSecuritiesRiskMember_zxBQ7TV0stai" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Foreign securities risk — Because the Series may invest in securities of foreign issuers, the Series is subject to additional risks. These include risks of adverse changes in foreign economic, political, regulatory and other conditions. The prices of foreign common stocks may, at times, move in a different direction than the prices of U.S. stocks. In addition, investments in emerging market countries may be more volatile than investments in more developed countries. The Series’ investments may be denominated in the currencies of the countries in which they are located; therefore, the value of the Series may be affected by changes in exchange rates between those foreign currencies and the U.S. dollar. In addition, periodic U.S. Government restrictions on investment in issuers from certain foreign countries may require the Series to sell such investments at inopportune times or prevent an investment the Advisor otherwise believes is attractive, each of which could result in losses to the Series. These restrictions may also negatively impact the market for securities of issuers that are similar to those directly impacted by the restrictions resulting in reduced liquidity and price declines in those securities as well. <p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapRiskMember_z4cji1NRAIZ5" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Large-cap risk — Large-cap stocks tend to go in and out of favor based on market and economic conditions. During a period when large-cap stocks fall behind other types of investments — small-cap stocks, for instance — the Series’ performance could be reduced to the extent its portfolio is holding large-cap stocks. <p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallAndMidCapRiskMember_zcOHjrFJWw6i" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Small- and mid-cap risk — The Series may also have special risks due to its investments in stocks of small- and mid-size companies. These risks include the following: •The stocks of small- and mid-size companies may be subject to more abrupt or erratic market movements than the stocks of larger companies. •The stocks of small- and mid-size companies may be subject to liquidity risk because such stocks may have lower trading volume and be less marketable than the stocks of larger companies. Liquidity risk is further described below. •Small- and mid-size companies may have limited product lines, markets, or financial resources, and they may depend on a small management group. As a result, they fail more often than larger companies. <p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--HighYieldSecuritiesRiskMember_gRBRTB-KECEC_zKWkWiDmGNAc" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">High-yield securities risk — The Series is subject to additional risks due to its ability to invest in high-yield securities (junk bonds): •High-yield securities may underperform other sectors of the bond market, or the market as a whole. •The performance of high-yield securities tends to be more volatile than that of other sectors of the bond market. •Given the total size of the high-yield securities market, high-yield securities can be less liquid than investment grade securities. •The Series’ investments in high-yield securities will subject it to a substantial degree of credit risk because the prospect for repayment of principal and interest of many of these bonds is speculative. <p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--RisksOfLowerRatedInvestmentGradeSecuritiesMember_zCFTgxFIUjAd" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Risks of lower-rated investment grade securities — Securities with the lowest ratings within the investment grade categories carry more risk than those with the highest ratings. When a Series invests in securities in the lower rating categories, the achievement of its goals is more dependent on the Advisor’s ability than would be the case if the Series were to invest in higher-rated securities within the investment grade categories. The Advisor seeks to minimize this risk through investment analysis and attention to current developments in interest rates and economic conditions. <p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--USGovernmentSecuritiesRiskMember_zZOlFi5rSmX6" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">U.S. Government securities risk — Although U.S. Government securities are considered to be among the safest investments, they are not guaranteed against price movements due to changing interest rates. Obligations issued by some U.S. Government agencies are backed by the U.S. Treasury, while others are backed solely by the ability of the agency to borrow from the U.S. Treasury or by the agency’s own resources, and, therefore, such obligations are not backed by the full faith and credit of the United States government. <p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--MortgageAndAssetBackedSecuritiesRisksMember_zlIIkqwHwPlg" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Mortgage- and asset-backed securities risks — The Series’ investments in mortgage-backed and asset-backed securities may subject it to the following additional risks: •Mortgage-backed securities are affected by, among other things, interest rate changes and the possibility of prepayment of the underlying mortgage loans. Mortgage-backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations. •Payment of principal and interest on asset-backed securities is dependent largely on the cash flows generated by the assets backing the securities, and asset-backed securities may not have the benefit of any security interest in the related assets. <p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsAndFuturesRiskMember_zY4Cv5IAbBY2" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Options and futures risk — The Series is subject to the following risks due to its ability to invest in options and futures: •Options and futures, like all derivatives, can be extremely sensitive to changes in the market value of the underlying investment, and changes in the value of an option or futures contract may not correlate perfectly with the underlying investment. •The Series may not be able to receive amounts payable to it under its options and futures contracts as quickly as it may be able to sell or otherwise obtain payments from other investments, so the Series’ investments in such contracts may not be as liquid as the Series’ other investments. <p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorFocusRiskMember_zmRFoIuk9ttc" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Sector focus risk — Because the Series’ investments may, from time to time, be more heavily invested in a particular sector or sectors, the value of its shares may be especially sensitive to factors and economic risks that specifically affect those sectors. As a result, the Series’ share price may fluctuate more widely than the value of shares of a mutual fund that invests in a broader range of sectors. <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--LiquidityRiskMember_zwpVJVn0tJl8" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Liquidity risk — The Series is subject to the risk that, at certain times, its securities may be difficult or impossible to sell at the time and the price that the Series would like. The Series may have to lower the price, sell other securities instead or forego an investment opportunity, any of which could have a negative effect on the Series’ management or performance. <p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeRedemptionRiskMember_zAw3KvWCP7Ne" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Large redemption risk — Certain institutions or individuals may from time to time own (beneficially or of record) or control a significant percentage of the Series’ shares. Redemptions by these institutions or individuals in the Series may impact the Series’ liquidity and net asset value (NAV). These redemptions may also force the Series to sell securities, which may cause the Series to experience a loss (particularly during periods of declining or illiquid markets), as well as cause the Series’ portfolio turnover rate and transaction costs to rise, which may negatively affect the Series’ performance and increase the likelihood of capital gain distributions for remaining shareholders. Summary of Past Performance <span id="xdx_905_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003625Member_zksHfYr6Cg2">The bar chart and average annual total return table provide some indication of the risks of investing in the Series. The bar chart shows the variability in the performance of the Series by showing changes in the performance of the Class S shares of the Series for each of the last ten calendar years. The total return table shows how the average annual total returns for the Series for different periods compare to those of a broad-based securities index and a blended index. The Conservative Term Composite Benchmark 1 is a blend of 15% MSCI USA Investable Market Index, 5% MSCI ACWI ex USA Index, and 80% Bloomberg U.S. Intermediate Aggregate Bond Index. The Conservative Term Composite Benchmark 2 is a blend of 15% MSCI USA Investable Market Index, 5% MSCI ACWI ex USA Index, and 80% Bloomberg U.S. Aggregate Bond Index. The Conservative Term Composite Benchmarks are provided because they better reflect the asset allocation of the Series as compared with the broad-based index. Because the Series’ asset allocation will vary over time, the composition of the Series’ portfolio may not match the composition of the comparative indices’ portfolios. <span id="xdx_909_eoef--PerformancePastDoesNotIndicateFuture_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003625Member_zuSQ5fdMXmxk">Past performance (both before and after taxes) does not necessarily indicate how the Series will perform in the future. Quarterly updated performance information of the Series is available at <span id="xdx_907_eoef--PerformanceAvailabilityWebSiteAddress_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003625Member_zHiPBA4es0v2">www.manning-napier.com. The bar chart and average annual total return table provide some indication of the risks of investing in the Series. Past performance (both before and after taxes) does not necessarily indicate how the Series will perform in the future. www.manning-napier.com CALENDAR YEARS ENDED DECEMBER 31 <div id="xdx_A89_eoef--BarChartTableTextBlock_zFD1OuXeqPD9"></div> <table border="0" cellpadding="0" cellspacing="0" id="xdx_A50_z9LZfYFfGOxk" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse; display: none" summary="xdx: Disclosure - Annual Total Returns"> <tr style="vertical-align: top"> <td style="text-align: left; width: 50%"> </td> <td id="xdx_484_eoef--AnnlRtrPct_dp_hoef--ClassAxis__custom--C000010087Member_zWGIBDKXdYJ7" style="text-align: left; width: 50%"> </td></tr> <tr id="xdx_416_20160101__20161231_z5BPWUbs4DVe" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2016</td> <td style="text-align: left">4.25%</td></tr> <tr id="xdx_419_20170101__20171231_zUwLxScWAk1b" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2017</td> <td style="text-align: left">8.92%</td></tr> <tr id="xdx_41E_20180101__20181231_zNO9Pb9Xyao6" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2018</td> <td style="text-align: left">-2.24%</td></tr> <tr id="xdx_41D_20190101__20191231_zVYaknkDUI49" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2019</td> <td style="text-align: left">12.96%</td></tr> <tr id="xdx_410_20200101__20201231_z8TOVPy6rc04" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2020</td> <td style="text-align: left">10.49%</td></tr> <tr id="xdx_414_20210101__20211231_zpWjv09VhF56" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2021</td> <td style="text-align: left">5.39%</td></tr> <tr id="xdx_418_20220101__20221231_zWG6ZIbyHQLb" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2022</td> <td style="text-align: left">-11.13%</td></tr> <tr id="xdx_41A_20230101__20231231_z5DX4TxazMQ2" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2023</td> <td style="text-align: left">8.51%</td></tr> <tr id="xdx_411_20240101__20241231_zZByU8iPlJNg" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2024</td> <td style="text-align: left">4.27%</td></tr> <tr id="xdx_416_20250101__20251231_zRW0k8I6S1w8" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2025</td> <td style="text-align: left">7.88%</td></tr> </table> <div style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left"> <div style="border-width: 0pt; padding: 0pt; overflow: hidden; display: inline-block; width: 313.2pt; height: 203.38pt; text-align: left"> <img alt="" src="promulti-proimg003.gif" style="vertical-align: top; margin-left: -10.79pt; width: 324pt; margin-top: 7.19pt; height: 184.79pt"/> </div> </div> 0.0425 0.0892 -0.0224 0.1296 0.1049 0.0539 -0.1113 0.0851 0.0427 0.0788 <p id="xdx_A86_eoef--BarChartClosingTextBlock_zJuAgob7DaDa" style="font: 12pt/normal Times New Roman, Times, serif; margin: 4pt 0pt 0pt; text-transform: none; color: #328345; text-indent: 0pt; text-align: left">Quarterly Returns Highest (quarter ended 06/30/2020): 8.35% Lowest (quarter ended 03/31/2020): (5.23)% Highest 2020-06-30 0.0835 Lowest 2020-03-31 -0.0523 <div id="xdx_A80_eoef--PerformanceTableTextBlock_zScCg2RBrkwi"></div> <table style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 162pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> </tr> <tr style="min-height: 10.35pt"> <td colspan="4" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> <span id="xdx_900_eoef--PerformanceTableHeading_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003625Member_gIFPTH-FKIVAB_zgYe7kQPFXf">AVERAGE ANNUAL TOTAL RETURNS  FOR PERIODS ENDED DECEMBER 31, 2025 </td> </tr> </table> <div></div> <table id="xdx_A50_dU_zHYIaKx0d4u6" style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="min-height: 10.35pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 162pt"> </td> <td id="xdx_496_20250101__20251231_zgvlUL10nOhf" style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> 1 Year </td> <td id="xdx_490_20210101__20251231_zTC32TRov8G" style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> 5 Years </td> <td id="xdx_49C_20160101__20251231_zFVDTdhQ06D1" style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> 10 Years </td> </tr> <tr style="min-height: 14.2pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class S Shares </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> </tr> <tr id="xdx_405_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000010087Member_zAadnvgytRKk" style="min-height: 14.2pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">7.88% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">2.71% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">4.71% </td> </tr> <tr id="xdx_405_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000010087Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zYdO95mIFOY8" style="min-height: 14.2pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">Return After Taxes on Distributions </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">6.58% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.46% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">3.30% </td> </tr> <tr id="xdx_409_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000010087Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zvcfq1diAcMf" style="min-height: 11pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">Return After Taxes on Distributions and Sale of Series Shares </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">4.71% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.63% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">3.20% </td> </tr> <tr id="xdx_40C_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000059952Member_zkt6Pymrnk44" style="min-height: 11pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">Class I Shares – Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">8.16% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">2.94% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">4.95% </td> </tr> <tr id="xdx_407_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000010085Member_zZeMeSmNjVG9" style="min-height: 11pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">Class R Shares – Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">7.65% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">2.49% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">4.46% </td> </tr> <tr id="xdx_407_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000010083Member_zv7lPxC5MVSc" style="min-height: 11pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">Class L Shares – Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">7.07% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.96% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">3.93% </td> </tr> <tr style="min-height: 11pt"> <td colspan="4" style="border-width: 0pt; padding: 3pt 6pt; vertical-align: bottom; border-collapse: collapse">Indices: <span id="xdx_901_eoef--IndexNoDeductionForFeesExpensesTaxes_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003625Member_zMfI4TT6qT4f">(reflect no deduction for fees, expenses, or taxes) </td> </tr> <tr id="xdx_40B_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--BloombergUSAggregateBondIndexMember_zUp2fYcJSMD5" style="min-height: 11pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">Bloomberg U.S. Aggregate Bond Index </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">7.30% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">(0.36)% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">2.01% </td> </tr> <tr id="xdx_40E_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--ConservativeTermCompositeBenchmark1Member_zn2KxQwsBl0g" style="min-height: 11pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">Conservative Term Composite Benchmark 11 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">10.06% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">3.32% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">4.95% </td> </tr> <tr id="xdx_40D_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--ConservativeTermCompositeBenchmark2Member_zLskErtACijj" style="min-height: 11pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">Conservative Term Composite Benchmark 21 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">9.93% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">2.45% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">4.85% </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; color: #262626; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">1</td><td style="width: 5pt"></td><td style="text-align: justify">Returns provided are calculated monthly using a blended allocation, as noted above.</td> </tr></table> AVERAGE ANNUAL TOTAL RETURNS FOR PERIODS ENDED DECEMBER 31, 2025 0.0788 0.0271 0.0471 0.0658 0.0146 0.0330 0.0471 0.0163 0.0320 0.0816 0.0294 0.0495 0.0765 0.0249 0.0446 0.0707 0.0196 0.0393 (reflect no deduction for fees, expenses, or taxes) 0.0730 -0.0036 0.0201 0.1006 0.0332 0.0495 0.0993 0.0245 0.0485 <p id="xdx_A80_eoef--PerformanceTableClosingTextBlock_gRBPTCTB-UIL_zSiphLA9RWa4" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">No performance is shown for the Class Z Shares because they were not active prior to the date of this prospectus. Except for differences in returns resulting from differences in expenses, the classes would have substantially similar returns because each class invests in the same portfolio of securities. <span id="xdx_902_eoef--PerformanceTableUsesHighestFederalRate_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003625Member_zi8iwtTRAh9l">The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. <span id="xdx_903_eoef--PerformanceTableOneClassOfAfterTaxShown_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003625Member_z1IjY9w4PZ0j">The after-tax figures are shown for one share class only, and would be different for the other share classes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. <span id="xdx_901_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003625Member_zqXsIc7bRqV3">After-tax returns are not relevant to investors who hold their Series shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. The after-tax figures are shown for one share class only, and would be different for the other share classes. After-tax returns are not relevant to investors who hold their Series shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Pro-Blend® Moderate Term Series Investment Goal The Series’ investment objective is to provide equal emphasis on long-term growth of capital and preservation of capital. Fees and Expenses This table describes the fees and expenses you may pay if you buy, hold, and sell shares of the Series. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below. <div id="xdx_A85_eoef--ShareholderFeesTableTextBlock_zJrep2n84WLg"></div> <table id="xdx_A59_dU_zLPAYRSsvdR3" style="table-layout: fixed; width: 648pt; margin-top: 0pt; margin-bottom: 0pt; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 360pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 57.59pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 57.59pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 57.59pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 57.59pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 57.59pt"> </td> </tr> <tr style="min-height: 3pt"> <td style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> CLASS </td> <td id="xdx_49F_20260227__20260227__oef--ClassAxis__custom--C000010106Member_zAnnfhYX2EH8" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> S </td> <td id="xdx_49E_20260227__20260227__oef--ClassAxis__custom--C000059953Member_zHdHiQkN7tS6" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> I </td> <td id="xdx_490_20260227__20260227__oef--ClassAxis__custom--C000010104Member_zMXTJmRiyzAd" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> R </td> <td id="xdx_49B_20260227__20260227__oef--ClassAxis__custom--C000010102Member_zsnyKuZXlVjk" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> L </td> <td id="xdx_491_20260227__20260227__oef--ClassAxis__custom--C000010103Member_zVgTddDXlWdc" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> Z </td> </tr> <tr id="xdx_405_eoef--ShareholderFeeOther_dn_zIEnSpEkEKO2" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_980_eoef--ShareholderFeesCaption_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003636Member_zpitYwGBKLHd" style="font: 8pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Shareholder Fees (fees paid directly from your investment) </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> </tr> </table> Shareholder Fees (fees paid directly from your investment) 0 0 0 0 0 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) <div id="xdx_A85_eoef--AnnualFundOperatingExpensesTableTextBlock_ziwFpjaxd941"></div> <table id="xdx_A5D_dU_zpUccBgrzhxl" style="width: 648pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_499_20260227__20260227__oef--ClassAxis__custom--C000010106Member_zy8SiwJP1blk" style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_498_20260227__20260227__oef--ClassAxis__custom--C000059953Member_zGXD6rNRH2j9" style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_49A_20260227__20260227__oef--ClassAxis__custom--C000010104Member_zKyw80XwGmh7" style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_49E_20260227__20260227__oef--ClassAxis__custom--C000010102Member_zOBvN9gLhdDe" style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_49F_20260227__20260227__oef--ClassAxis__custom--C000010103Member_zd4JFuuf7Yv1" style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td></tr> <tr id="xdx_40A_eoef--ManagementFeesOverAssets_dpn_z3F78dasbqma" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 360pt"> Management Fees </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 57.59pt">0.60% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 57.59pt">0.60% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 57.59pt">0.60% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 57.59pt">0.60% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 57.59pt">0.60% </td> </tr> <tr id="xdx_40A_eoef--DistributionAndService12b1FeesOverAssets_dpn_zEeQcdqQlIb8" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Distribution and Service (12b-1) Fees </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.25% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.50% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.00% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">None </td> </tr> <tr id="xdx_406_eoef--OtherExpensesOverAssets_dpn_zD1KpYKh7Xkh" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Other Expenses </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.22% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.28% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.21% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.22% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.17% </td> </tr> <tr id="xdx_407_eoef--ExpensesOverAssets_dpn_z6Qiefs9ydGa" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Total Annual Fund Operating Expenses </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.07% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.88% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.31% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.82% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.77% </td> </tr> <tr id="xdx_40B_eoef--FeeWaiverOrReimbursementOverAssets_dpn_zPeDyjrVwN77" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Less Fee Waiver and/or Expense Reimbursement1 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">(0.03)% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">(0.07)% </td> </tr> <tr id="xdx_40C_eoef--NetExpensesOverAssets_dpn_zNA3fEH4TRrc" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.07% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.85% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.31% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.82% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.70% </td> </tr> </table> <div class="qes_column"> <table cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; color: #262626; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">1</td><td style="width: 5pt"></td><td style="text-align: justify">Manning & Napier Advisors, LLC (the Advisor or Manning & Napier) has contractually agreed to limit its fees and reimburse expenses to the extent necessary. In addition, the Advisor has contractually agreed to reimburse expenses to the extent necessary so that the total direct annual fund operating expenses, exclusive of Distribution and Service (12b-1) Fees (“excluded expenses”), do not exceed 0.85% of the average daily net assets of the Class S, Class I, Class R, and Class L shares, and 0.70% of the average daily net assets of the Class Z shares. These contractual waivers will continue indefinitely, and may only be amended or terminated with the approval of the Series’ Board of Directors. The Advisor’s agreement to limit each Class’s operating expenses is limited to direct operating expenses and, therefore, does not apply to acquired fund fees and expenses, which are indirect expenses incurred by the Series through its investments in other investment companies. The Advisor may receive from a Class the difference between the Class’s total direct annual fund operating expenses, not including excluded expenses, and the Class’s contractual expense limit to recoup all or a portion of its prior fee waivers or expense reimbursements made during the rolling three-year period (i.e., the three year period following a waiver or reimbursement) preceding the recoupment if at any point the total direct annual fund operating expenses, not including excluded expenses, are below the contractual expense limit (a) at the time of the fee waiver and/or expense reimbursement and (b) at the time of the recoupment.</td> </tr></table> </div> 0.0060 0.0060 0.0060 0.0060 0.0060 0.0025 0 0.0050 0.0100 0 0.0022 0.0028 0.0021 0.0022 0.0017 0.0107 0.0088 0.0131 0.0182 0.0077 0 -0.0003 0 0 -0.0007 0.0107 0.0085 0.0131 0.0182 0.0070 Example <p id="xdx_A81_eoef--ExpenseExampleNarrativeTextBlock_zROxd4Pa5FH7" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The Example below is intended to help you compare the cost of investing in the Series with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Series for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Series’ operating expenses remain the same (taking into account the Advisor’s contractual waivers). Although your actual costs may be higher or lower, based on these assumptions your costs would be: <div id="xdx_A81_eoef--ExpenseExampleWithRedemptionTableTextBlock_zRGnUEPSteci"></div> <table id="xdx_A51_dU_zeRgNpwnRsc1" style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> </tr> <tr style="min-height: 3pt"> <td style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> CLASS </td> <td id="xdx_499_20260227__20260227__oef--ClassAxis__custom--C000010106Member_z3SusTtyXfgg" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> S </td> <td id="xdx_49B_20260227__20260227__oef--ClassAxis__custom--C000059953Member_zXrruiidySvc" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> I </td> <td id="xdx_494_20260227__20260227__oef--ClassAxis__custom--C000010104Member_zbnXAeQYbsnf" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> R </td> <td id="xdx_49C_20260227__20260227__oef--ClassAxis__custom--C000010102Member_zs3uKfvvkci3" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> L </td> <td id="xdx_495_20260227__20260227__oef--ClassAxis__custom--C000010103Member_zkqk0BbGUEyg" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> Z </td> </tr> <tr id="xdx_40A_eoef--ExpenseExampleYear01_z6eoRJh50SS8" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 1 Year </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$109 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$87 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$133 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$185 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$72 </td> </tr> <tr id="xdx_40B_eoef--ExpenseExampleYear03_zQKAegqs8wca" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 3 Years </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$340 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$271 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$414 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$573 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$225 </td> </tr> <tr id="xdx_407_eoef--ExpenseExampleYear05_zGuqN6VKYPO1" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 5 Years </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$589 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$471 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$717 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$986 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$391 </td> </tr> <tr id="xdx_407_eoef--ExpenseExampleYear10_zjgSeTPDTgKa" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 10 Years </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$1,304 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$1,048 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$1,578 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$2,138 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$871 </td> </tr> </table> 109 87 133 185 72 340 271 414 573 225 589 471 717 986 391 1304 1048 1578 2138 871 Portfolio Turnover The Series pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Series shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the performance of the Series. During the most recent fiscal year, the portfolio turnover rate of the Series was 70% of the average value of its portfolio. 0.70 Principal Investment Strategies <p id="xdx_A84_eoef--StrategyNarrativeTextBlock_gRBSNTB-OI_zj7i653P0Bnj" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The Advisor seeks to balance conflicting goals of growth of capital and preservation of capital in order to generate a more stable rate of return for this portfolio relative to an investment in the general stock market. The Series invests primarily in common stocks and intermediate to long-term fixed income securities. The Series may invest in U.S. and foreign stocks, including those in emerging markets, American Depository Receipts (ADRs), and derivative instruments (as described below). The Series may invest in stocks of small-, large-, or mid-size companies. In the fixed income portion of the portfolio, the Series invests primarily in U.S. Treasury securities, and U.S. and foreign mortgage-backed and asset-backed securities and corporate bonds. The Series is not subject to any duration or maturity restrictions and will vary its average dollar weighted portfolio maturity depending on the Advisor’s outlook for yields. The Series invests primarily in investment grade securities, those securities rated BBB- or above by S&P or Baa3 or above by Moody’s (or determined to be of equivalent quality by the Advisor), but may also invest in non-investment grade securities (junk bonds). There are no prescribed limits on the sector allocations of the Series’ investments and, from time to time, the Series may focus its investments in one or more sectors. When the Advisor wishes to purchase or sell a security at a specified price, it may seek to generate additional gains for the Series by writing (selling) options on the underlying security, targeting options with premiums that are believed to offer sufficient income to compensate the Series for the risks associated with the option. Options are written only on stocks that the Advisor is planning to buy (in the case of puts) or sell (in the case of calls). In addition, the Series may buy and sell futures contracts based on fixed income securities, interest rates, and currencies, to seek to enhance returns, manage duration, hedge interest rate risk, and reduce volatility. The Advisor may target fixed income futures that are believed to offer the Series the opportunity to more efficiently manage duration and gain exposure to certain markets. The Advisor will consider selling a security if: <table cellpadding="0" cellspacing="0" style="font: 9pt/normal Arial, sans-serif; color: #262626; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.15in"></td><td style="width: 0.15in; text-align: left">•</td><td style="text-align: justify"> it no longer fits the Series’ investment strategies or the Advisor’s investment thesis;</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 9pt/normal Arial, sans-serif; color: #262626; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.15in"></td><td style="width: 0.15in; text-align: left">•</td><td style="text-align: justify"> it has reached the Advisor’s target sell price or no longer fits the Advisor’s valuation discipline; or</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 9pt/normal Arial, sans-serif; color: #262626; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.15in"></td><td style="width: 0.15in; text-align: left">•</td><td style="text-align: justify">a more attractive investment opportunity is identified.</td> </tr></table> The words “Moderate Term” in the Series’ name describe the investment horizon of those investors who may want to consider investing in the Series and do not reflect the Series’ maturity restrictions with respect to its investments in fixed income securities. Please see the “More Information About the Series’ Principal Investment Strategies and Principal Risks” section of the prospectus for the historical high and low equity exposures of the Series. You could lose money by investing in the Series. <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zVNCXh2vWVyj" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Management risk — The value of your investment may decline if the Advisor’s judgments about the attractiveness, relative value or potential appreciation of a particular security or strategy prove to be incorrect. <p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zABJYJb4kFqe" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Market risk — Because the Series invests in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. This means that you could lose money on your investment in the Series or the Series could underperform if any of the following occurs: •U.S. and/or foreign stock or bond markets decline. •An adverse event, such as an unfavorable earnings report, depresses the value of one or more of the Series’ portfolio holdings. •The issuer of a bond owned by the Series defaults on its obligation to pay principal and/or interest or has its credit rating downgraded; this risk is greater for lower-rated investment grade securities and junk bonds. •Interest rates rise, credit spreads widen, and/or repayment spreads widen. These events alone or in combination can cause bond prices to fall and reduce the value of the Series’ portfolio. Longer-term bonds will experience greater fluctuations than shorter-term bonds given their greater sensitivity to interest rate changes. •Market volatility and/or prepayment spreads change to such a degree that prepayment uncertainty/risks are reassessed; the greater the uncertainty/risk, the wider the requisite prepayment spread. •An epidemic, pandemic or natural disaster, or widespread fear that such events may occur, negatively affects the global economy, as well as the economies of individual countries, the financial performance of individual companies and sectors, and the markets in general in significant and unforeseen ways. Any such impact could adversely affect the prices and liquidity of the securities and other instruments in which the Series invests. Current market conditions may pose heightened risks for the Series. Interest rates in the U.S. are coming off historic lows, but recent changes in government policy have caused interest rates to rise and there is an increased risk that interest rates will continue to rise in the near future. An increase in interest rates may, in turn, increase volatility and reduce liquidity in the fixed income markets, and result in a decline in the value of the fixed income investments held by the Series. In addition, reductions in dealer market-making capacity as a result of structural or regulatory changes could further decrease liquidity and/or increase volatility in the fixed income markets. As a result of these conditions, the Series’ value may fluctuate and/or the Series may experience increased redemptions from shareholders, which may impact the Series’ liquidity or force the Series to sell securities into a declining or illiquid market. <p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignSecuritiesRiskMember_gRBRTB-EJXWL_zBZl3wVgzYP3" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Foreign securities risk — Because the Series may invest in securities of foreign issuers, the Series is subject to additional risks. These include risks of adverse changes in foreign economic, political, regulatory and other conditions. The prices of foreign common stocks may, at times, move in a different direction than the prices of U.S. stocks. In addition, investments in emerging market countries may be more volatile than investments in more developed countries. The Series’ investments may be denominated in the currencies of the countries in which they are located; therefore, the value of the Series may be affected by changes in exchange rates between those foreign currencies and the U.S. dollar. In addition, periodic U.S. Government restrictions on investments in issuers from certain foreign countries may require the Series to sell such investments at inopportune times or prevent an investment the Advisor otherwise believes is attractive, each of which could result in losses to the Series. These restrictions may also negatively impact the market for securities of issuers that are similar to those directly impacted by the restrictions resulting in reduced liquidity and price declines in those securities as well. <p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapRiskMember_z0X2ECLXh3J8" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Large-cap risk — Large-cap stocks tend to go in and out of favor based on market and economic conditions. During a period when large-cap stocks fall behind other types of investments — small-cap stocks, for instance — the Series’ performance could be reduced to the extent its portfolio is holding large-cap stocks. <p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallAndMidCapRiskMember_zya1BraI4NX1" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Small- and mid-cap risk — The Series may also have special risks due to its investments in stocks of small- and mid-size companies. These risks include the following: •The stocks of small- and mid-size companies may be subject to more abrupt or erratic market movements than the stocks of larger companies. •The stocks of small- and mid-size companies may be subject to liquidity risk because such stocks may have lower trading volume and be less marketable than the stocks of larger companies. Liquidity risk is further described below. •Small- and mid-size companies may have limited product lines, markets, or financial resources, and they may depend on a small management group. As a result, they fail more often than larger companies. <p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--HighYieldSecuritiesRiskMember_zbyk4LTm6FC" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">High-yield securities risk — The Series is subject to additional risks due to its ability to invest in high-yield securities (junk bonds): •High-yield securities may underperform other sectors of the bond market, or the market as a whole. •The performance of high-yield securities tends to be more volatile than that of other sectors of the bond market. •Given the total size of the high-yield securities market, high-yield securities can be less liquid than investment grade securities. •The Series’ investments in high-yield securities will subject it to a substantial degree of credit risk because the prospect for repayment of principal and interest of many of these bonds is speculative. <p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--RisksOfLowerRatedInvestmentGradeSecuritiesMember_zzyq21iN8Ct9" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Risks of lower-rated investment grade securities — Securities with the lowest ratings within the investment grade categories carry more risk than those with the highest ratings. When a Series invests in securities in the lower rating categories, the achievement of its goals is more dependent on the Advisor’s ability than would be the case if the Series were to invest in higher-rated securities within the investment grade categories. The Advisor seeks to minimize this risk through investment analysis and attention to current developments in interest rates and economic conditions. <p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--USGovernmentSecuritiesRiskMember_zifeWy9QWgHi" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">U.S. Government securities risk — Although U.S. Government securities are considered to be among the safest investments, they are not guaranteed against price movements due to changing interest rates. Obligations issued by some U.S. Government agencies are backed by the U.S. Treasury, while others are backed solely by the ability of the agency to borrow from the U.S. Treasury or by the agency’s own resources, and, therefore, such obligations are not backed by the full faith and credit of the United States government. <p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--MortgageAndAssetBackedSecuritiesRisksMember_zE5JkeYCbvL3" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Mortgage- and asset-backed securities risks — The Series’ investments in mortgage-backed and asset-backed securities may subject it to the following additional risks: •Mortgage-backed securities are affected by, among other things, interest rate changes and the possibility of prepayment of the underlying mortgage loans. Mortgage-backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations. •Payment of principal and interest on asset-backed securities is dependent largely on the cash flows generated by the assets backing the securities, and asset-backed securities may not have the benefit of any security interest in the related assets. <p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsAndFuturesRiskMember_zipkpEzEB40g" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Options and futures risk — The Series is subject to the following risks due to its ability to invest in options and futures: •Options and futures, like all derivatives, can be extremely sensitive to changes in the market value of the underlying investment, and changes in the value of an option or futures contract may not correlate perfectly with the underlying investment. •The Series may not be able to receive amounts payable to it under its options and futures contracts as quickly as it may be able to sell or otherwise obtain payments from other investments, so the Series’ investments in such contracts may not be as liquid as the Series’ other investments. <p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorFocusRiskMember_zszpA4mHs8Gd" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Sector focus risk — Because the Series’ investments may, from time to time, be more heavily invested in a particular sector or sectors, the value of its shares may be especially sensitive to factors and economic risks that specifically affect those sectors. As a result, the Series’ share price may fluctuate more widely than the value of shares of a mutual fund that invests in a broader range of sectors. <p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--LiquidityRiskMember_zVhLSBbXMMs3" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Liquidity risk — The Series is subject to the risk that, at certain times, its securities may be difficult or impossible to sell at the time and the price that the Series would like. The Series may have to lower the price, sell other securities instead or forego an investment opportunity, any of which could have a negative effect on the Series’ management or performance. <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeRedemptionRiskMember_z5fjNBHGwT4j" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Large redemption risk — Certain institutions or individuals may from time to time own (beneficially or of record) or control a significant percentage of the Series’ shares. Redemptions by these institutions or individuals in the Series may impact the Series’ liquidity and net asset value (NAV). These redemptions may also force the Series to sell securities, which may cause the Series to experience a loss (particularly during periods of declining or illiquid markets), as well as cause the Series’ portfolio turnover rate and transaction costs to rise, which may negatively affect the Series’ performance and increase the likelihood of capital gain distributions for remaining shareholders. Summary of Past Performance <span id="xdx_900_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003636Member_ztJR76AFCKd2">The bar chart and average annual total return table provide some indication of the risks of investing in the Series. The bar chart shows the variability in the performance of the Series by showing changes in the performance of the Class S shares of the Series for each of the last ten calendar years. The total return table shows how the average annual total returns for the Series for different periods compare to those of a broad-based securities index and a blended index. The 30/10/30/30 Blended Index is a blend of 30% MSCI USA Investable Market Index, 10% MSCI ACWI ex USA Index, 30% Bloomberg U.S. Aggregate Bond Index, and 30% Bloomberg U.S. Intermediate Aggregate Bond Index. The 30/10/60 Blended Index is a blend of 30% MSCI USA Investable Market Index, 10% MSCI ACWI ex USA Index, 60% Bloomberg U.S. Aggregate Bond Index. The Blended Indices are provided because they better reflect the asset allocation of the Series as compared with the broad-based index. Because the Series’ asset allocation will vary over time, the composition of the Series’ portfolio may not match the composition of the comparative indices’ portfolios. <span id="xdx_90A_eoef--PerformancePastDoesNotIndicateFuture_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003636Member_zMrob10Ga8Oa">Past performance (both before and after taxes) does not necessarily indicate how the Series will perform in the future. Quarterly updated performance information of the Series is available at <span id="xdx_900_eoef--PerformanceAvailabilityWebSiteAddress_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003636Member_zZW6UhaFIUdb">www.manning-napier.com. The bar chart and average annual total return table provide some indication of the risks of investing in the Series. Past performance (both before and after taxes) does not necessarily indicate how the Series will perform in the future. www.manning-napier.com CALENDAR YEARS ENDED DECEMBER 31 <div id="xdx_A8B_eoef--BarChartTableTextBlock_zNgLv08bIqca"></div> <table border="0" cellpadding="0" cellspacing="0" id="xdx_A53_dU_zIrS2IqiDhTc" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse; display: none" summary="xdx: Disclosure - Annual Total Returns"> <tr style="vertical-align: top"> <td style="text-align: left; width: 50%"> </td> <td id="xdx_48C_eoef--AnnlRtrPct_dp_hoef--ClassAxis__custom--C000010106Member_zXXyfP2LZsRi" style="text-align: left; width: 50%"> </td></tr> <tr id="xdx_416_20160101__20161231_zLkNRTxZmFVa" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2016</td> <td style="text-align: left">3.19%</td></tr> <tr id="xdx_419_20170101__20171231_zEPaVRP6h4R1" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2017</td> <td style="text-align: left">11.57%</td></tr> <tr id="xdx_41E_20180101__20181231_zJbP6iJYkIh4" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2018</td> <td style="text-align: left">-3.51%</td></tr> <tr id="xdx_41D_20190101__20191231_zaQaDx3OTqM9" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2019</td> <td style="text-align: left">16.14%</td></tr> <tr id="xdx_410_20200101__20201231_zzsQbU5YZ6Zk" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2020</td> <td style="text-align: left">14.92%</td></tr> <tr id="xdx_414_20210101__20211231_z1AmHbl0OJse" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2021</td> <td style="text-align: left">8.00%</td></tr> <tr id="xdx_418_20220101__20221231_zUnBIdabO659" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2022</td> <td style="text-align: left">-14.53%</td></tr> <tr id="xdx_41A_20230101__20231231_zxnpqDkqLu33" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2023</td> <td style="text-align: left">11.10%</td></tr> <tr id="xdx_411_20240101__20241231_zTiEawW5s9ff" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2024</td> <td style="text-align: left">6.13%</td></tr> <tr id="xdx_416_20250101__20251231_zAbbSdqlbhpa" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2025</td> <td style="text-align: left">9.29%</td></tr> </table> <div style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 6pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left"> <div style="border-width: 0pt; padding: 0pt; overflow: hidden; display: inline-block; width: 313.2pt; height: 203.38pt; text-align: left"> <img alt="" src="promulti-proimg004.gif" style="vertical-align: top; margin-left: -13.2pt; width: 322.8pt; margin-top: 7.19pt; height: 186pt"/> </div> </div> 0.0319 0.1157 -0.0351 0.1614 0.1492 0.0800 -0.1453 0.1110 0.0613 0.0929 <p id="xdx_A86_eoef--BarChartClosingTextBlock_zAnhFKtzOpLg" style="font: 12pt/normal Times New Roman, Times, serif; margin: 4pt 0pt 0pt; text-transform: none; color: #328345; text-indent: 0pt; text-align: left">Quarterly Returns Highest (quarter ended 06/30/2020): 10.81% Lowest (quarter ended 06/30/2022): (7.69)% Highest 2020-06-30 0.1081 Lowest 2022-06-30 -0.0769 <div id="xdx_A85_eoef--PerformanceTableTextBlock_z6b7F7hA4uF2"></div> <table style="table-layout: fixed; width: 313.19pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 161.99pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> </tr> <tr style="min-height: 3pt"> <td colspan="4" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> <span id="xdx_90E_eoef--PerformanceTableHeading_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003636Member_gIFPTH-ZXEPO_zw4rVdesiGOj">AVERAGE ANNUAL TOTAL RETURNS  FOR PERIODS ENDED DECEMBER 31, 2025 </td> </tr> </table> <div></div> <table id="xdx_A54_dU_zAdGkPLga8ma" style="table-layout: fixed; width: 313.19pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 161.99pt"> </td> <td id="xdx_496_20250101__20251231_zvdnIGAmrRw9" style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> 1 Year </td> <td id="xdx_490_20210101__20251231_zYMicJKRGnjg" style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> 5 Years </td> <td id="xdx_49C_20160101__20251231_z6aVeBnfIUg5" style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> 10 Years </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class S Shares </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> </tr> <tr id="xdx_40F_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000010106Member_ziHWocFhKkub" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">9.29% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">3.53% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">5.84% </td> </tr> <tr id="xdx_407_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000010106Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_z1LrYMBIzNtf" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return After Taxes on Distributions </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">7.59% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">2.27% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">4.48% </td> </tr> <tr id="xdx_402_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000010106Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zg4xm2xSsCje" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return After Taxes on Distributions and Sale of Series Shares </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">6.24% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">2.37% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">4.23% </td> </tr> <tr id="xdx_407_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000059953Member_z2LP9685MMNa" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class I Shares – Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">9.55% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">3.76% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">6.08% </td> </tr> <tr id="xdx_401_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000010104Member_z2esJqZJtI47" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class R Shares – Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">9.05% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">3.31% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">5.59% </td> </tr> <tr id="xdx_401_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000010102Member_zXpjb6UXjyEl" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class L Shares – Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">8.48% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">2.79% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">5.07% </td> </tr> <tr style="min-height: 3pt"> <td colspan="4" style="border-width: 0pt; padding: 3pt 6pt; vertical-align: bottom; border-collapse: collapse"> Indices: <span id="xdx_90D_eoef--IndexNoDeductionForFeesExpensesTaxes_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003636Member_zCW6eRrbnEpi">(reflect no deduction for fees, expenses, or taxes) </td> </tr> <tr id="xdx_40A_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--BloombergUSAggregateBondIndexMember_zCSiIm8zFhDf" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Bloomberg U.S. Aggregate Bond Index </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">7.30% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">(0.36)% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">2.01% </td> </tr> <tr id="xdx_407_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--BlendedIndex30103030Member_zghl4iCgCfId" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 30/10/30/30 Blended Index1 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">12.63% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">4.79% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">6.36% </td> </tr> <tr id="xdx_40C_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--BlendedIndex301060Member_zaubGQb9ZjAh" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 30/10/60 Blended Index1 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">12.58% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">4.45% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">6.34% </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; color: #262626; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">1</td><td style="width: 5pt"></td><td style="text-align: justify">Returns provided are calculated monthly using a blended allocation, as noted above.</td> </tr></table> AVERAGE ANNUAL TOTAL RETURNS FOR PERIODS ENDED DECEMBER 31, 2025 0.0929 0.0353 0.0584 0.0759 0.0227 0.0448 0.0624 0.0237 0.0423 0.0955 0.0376 0.0608 0.0905 0.0331 0.0559 0.0848 0.0279 0.0507 (reflect no deduction for fees, expenses, or taxes) 0.0730 -0.0036 0.0201 0.1263 0.0479 0.0636 0.1258 0.0445 0.0634 <p id="xdx_A80_eoef--PerformanceTableClosingTextBlock_z0JvlU9ulFil" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">No performance is shown for the Class Z Shares because they were not active prior to the date of this prospectus. Except for differences in returns resulting from differences in expenses, the classes would have substantially similar returns because each class invests in the same portfolio of securities. <span id="xdx_903_eoef--PerformanceTableUsesHighestFederalRate_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003636Member_zAIKEwsy6Ef">The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. <span id="xdx_903_eoef--PerformanceTableOneClassOfAfterTaxShown_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003636Member_zBiWPSzZrgC4">The after-tax returns are shown for one share class only, and would be different for the other share classes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. <span id="xdx_908_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003636Member_zkPxYgOa06w3">After-tax returns are not relevant to investors who hold their Series shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. The after-tax returns are shown for one share class only, and would be different for the other share classes. After-tax returns are not relevant to investors who hold their Series shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Pro-Blend® Extended Term Series Investment Goal The Series’ primary objective is to provide long-term growth of capital and its secondary objective is to provide preservation of capital. Fees and Expenses This table describes the fees and expenses you may pay if you buy, hold, and sell shares of the Series. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below. <div id="xdx_A89_eoef--ShareholderFeesTableTextBlock_zl7bdHV1Sslk"></div> <table id="xdx_A5F_dU_zr5bYz8vj1Od" style="table-layout: fixed; width: 648pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 360pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 57.59pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 57.59pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 57.59pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 57.59pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 57.59pt"> </td> </tr> <tr style="min-height: 3pt"> <td style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> CLASS </td> <td id="xdx_498_20260227__20260227__oef--ClassAxis__custom--C000010113Member_zBZHDBmSDwD6" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> S </td> <td id="xdx_494_20260227__20260227__oef--ClassAxis__custom--C000059954Member_zKVOz6UZ3y9l" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> I </td> <td id="xdx_498_20260227__20260227__oef--ClassAxis__custom--C000010111Member_z6okMH9aBxdl" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> R </td> <td id="xdx_49F_20260227__20260227__oef--ClassAxis__custom--C000010109Member_zW4H41lPU40l" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> L </td> <td id="xdx_49C_20260227__20260227__oef--ClassAxis__custom--C000010110Member_z5LZ9eT4QLe9" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> Z </td> </tr> <tr id="xdx_409_eoef--ShareholderFeeOther_dn_zmehOGVM4pE4" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_986_eoef--ShareholderFeesCaption_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003639Member_zrjbdiNhaIKk" style="font: 8pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Shareholder Fees (fees paid directly from your investment) </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> </tr> </table> Shareholder Fees (fees paid directly from your investment) 0 0 0 0 0 <div id="xdx_A8E_eoef--AnnualFundOperatingExpensesTableTextBlock_z0GEkOUG4B1g"></div> <table id="xdx_A5C_dU_zMheL3wU1n7d" style="width: 648pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_49E_20260227__20260227__oef--ClassAxis__custom--C000010113Member_z9tTrYpFT8z9" style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_49E_20260227__20260227__oef--ClassAxis__custom--C000059954Member_zNSL5hKwN8F5" style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_491_20260227__20260227__oef--ClassAxis__custom--C000010111Member_ziTyWcRecAp8" style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_493_20260227__20260227__oef--ClassAxis__custom--C000010109Member_zJ0s9WOIxya" style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_496_20260227__20260227__oef--ClassAxis__custom--C000010110Member_zsFygP5GV0Wl" style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td></tr> <tr id="xdx_40A_eoef--ManagementFeesOverAssets_dpn_zYtwwUx4qFMg" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 360pt"> Management Fees </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 57.59pt"> 0.60% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 57.59pt"> 0.60% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 57.59pt"> 0.60% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 57.59pt"> 0.60% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 57.59pt"> 0.60% </td> </tr> <tr id="xdx_40A_eoef--DistributionAndService12b1FeesOverAssets_dpn_zQAECwE6YXAc" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Distribution and Service (12b-1) Fees </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.25% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.50% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 1.00% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> </tr> <tr id="xdx_406_eoef--OtherExpensesOverAssets_dpn_zAwjZrwHhZ2" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Other Expenses </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.18% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.19% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.18% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.20% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.15% </td> </tr> <tr id="xdx_407_eoef--ExpensesOverAssets_dpn_zLXZxvlqJzXl" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Total Annual Fund Operating Expenses </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.03% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.79% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.28% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.80% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.75% </td> </tr> <tr id="xdx_40B_eoef--FeeWaiverOrReimbursementOverAssets_dpn_zlFSRAfSWQb9" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Less Fee Waiver and/or Expense Reimbursement1 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">(0.05)% </td> </tr> <tr id="xdx_40C_eoef--NetExpensesOverAssets_dpn_z0ZayHDoRhmi" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.03% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.79% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.28% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.80% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.70% </td> </tr> </table> <div class="qes_column"> <table cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; color: #262626; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">1</td><td style="width: 5pt"></td><td style="text-align: justify">Manning & Napier Advisors, LLC (the Advisor or Manning & Napier) has contractually agreed to limit its fees and reimburse expenses to the extent necessary. In addition, the Advisor has contractually agreed to reimburse expenses to the extent necessary so that the total direct annual fund operating expenses, exclusive of Distribution and Service (12b-1) Fees (“excluded expenses”), do not exceed 0.85% of the average daily net assets of the Class S, Class I, Class R, and Class L shares, and 0.70% of the average daily net assets of the Class Z shares. These contractual waivers will continue indefinitely, and may only be amended or terminated with the approval of the Series’ Board of Directors. The Advisor’s agreement to limit each Class’s operating expenses is limited to direct operating expenses and, therefore, does not apply to acquired fund fees and expenses, which are indirect expenses incurred by the Series through its investments in other investment companies. The Advisor may receive from a Class the difference between the Class’s total direct annual fund operating expenses, not including excluded expenses, and the Class’s contractual expense limit to recoup all or a portion of its prior fee waivers or expense reimbursements made during the rolling three-year period (i.e., the three year period following a waiver or reimbursement) preceding the recoupment if at any point the total direct annual fund operating expenses, not including excluded expenses, are below the contractual expense limit (a) at the time of the fee waiver and/or expense reimbursement and (b) at the time of the recoupment.</td> </tr></table> </div> 0.0060 0.0060 0.0060 0.0060 0.0060 0.0025 0 0.0050 0.0100 0 0.0018 0.0019 0.0018 0.0020 0.0015 0.0103 0.0079 0.0128 0.0180 0.0075 0 0 0 0 -0.0005 0.0103 0.0079 0.0128 0.0180 0.0070 Example <p id="xdx_A8E_eoef--ExpenseExampleNarrativeTextBlock_z8FOkGSAf9D3" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The Example below is intended to help you compare the cost of investing in the Series with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Series for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Series’ operating expenses remain the same (taking into account the Advisor’s contractual waivers). Although your actual costs may be higher or lower, based on these assumptions your costs would be: <div id="xdx_A8B_eoef--ExpenseExampleWithRedemptionTableTextBlock_zKuix0bYWWOf"></div> <table id="xdx_A51_dU_z2FyIaIfXW71" style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> </tr> <tr style="min-height: 3pt"> <td style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> CLASS </td> <td id="xdx_49D_20260227__20260227__oef--ClassAxis__custom--C000010113Member_zgOoLRzHSjsj" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> S </td> <td id="xdx_499_20260227__20260227__oef--ClassAxis__custom--C000059954Member_zstO0F4jzHZj" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> I </td> <td id="xdx_49B_20260227__20260227__oef--ClassAxis__custom--C000010111Member_zfNix99XDXw8" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> R </td> <td id="xdx_491_20260227__20260227__oef--ClassAxis__custom--C000010109Member_zPMBhnAOuQHe" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> L </td> <td id="xdx_495_20260227__20260227__oef--ClassAxis__custom--C000010110Member_zZeenUo2lRrb" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> Z </td> </tr> <tr id="xdx_40A_eoef--ExpenseExampleYear01_zUcAjxHZQ2qj" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 1 Year </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$105 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$81 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$130 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$183 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$72 </td> </tr> <tr id="xdx_40E_eoef--ExpenseExampleYear03_zbAKJHFLFgji" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 3 Years </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$328 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$253 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$405 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$567 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$225 </td> </tr> <tr id="xdx_409_eoef--ExpenseExampleYear05_zX6TXHF5G798" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 5 Years </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$569 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$439 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$701 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$975 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$391 </td> </tr> <tr id="xdx_40A_eoef--ExpenseExampleYear10_z9Mr6Fv2kDHg" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 10 Years </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$1,260 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$978 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$1,544 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$2,116 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$871 </td> </tr> </table> 105 81 130 183 72 328 253 405 567 225 569 439 701 975 391 1260 978 1544 2116 871 Portfolio Turnover The Series pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Series shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the performance of the Series. During the most recent fiscal year, the portfolio turnover rate of the Series was 78% of the average value of its portfolio. 0.78 Principal Investment Strategies <p id="xdx_A8B_eoef--StrategyNarrativeTextBlock_gRBSNTB-MUVMTQYR_zjvbINykP9Qd" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">By focusing on growth of capital and to a lesser extent on preservation of capital, the Advisor seeks to participate, over the long term, in the growth of the stock market, but with less volatility than is typically associated with an investment in the general stock market. The Series invests primarily in common stocks and long-term fixed income securities. The Series may invest in U.S. and foreign stocks, including those in emerging markets, American Depository Receipts (ADRs), and derivative instruments (as described below). The Series may invest in stocks of small-, large-, or mid-size companies. In the fixed income portion of the portfolio, the Series invests primarily in U.S. Treasury securities, and U.S. and foreign mortgage-backed and asset-backed securities and corporate bonds. The Series is not subject to any duration or maturity restrictions and will vary its average dollar weighted portfolio maturity depending on the Advisor’s outlook for yields. The Series invests primarily in investment grade securities, those securities rated BBB- or above by S&P or Baa3 or above by Moody’s (or determined to be of equivalent quality by the Advisor), but may also invest in non-investment grade securities (junk bonds). There are no prescribed limits on the sector allocations of the Series’ investments and, from time to time, the Series may focus its investments in one or more sectors. When the Advisor wishes to purchase or sell a security at a specified price, it may seek to generate additional gains for the Series by writing (selling) options on the underlying security, targeting options with premiums that are believed to offer sufficient income to compensate the Series for the risks associated with the option. Options are written only on stocks that the Advisor is planning to buy (in the case of puts) or sell (in the case of calls). In addition, the Series may buy and sell futures contracts based on fixed income securities, interest rates, and currencies, to seek to enhance returns, manage duration, hedge interest rate risk, and reduce volatility. The Advisor may target fixed income futures that are believed to offer the Series the opportunity to more efficiently manage duration and gain exposure to certain markets. The Advisor will consider selling a security if: <table cellpadding="0" cellspacing="0" style="font: 9pt/normal Arial, sans-serif; color: #262626; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.15in"></td><td style="width: 0.15in; text-align: left">•</td><td style="text-align: justify"> it no longer fits the Series’ investment strategies or the Advisor’s investment thesis;</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 9pt/normal Arial, sans-serif; color: #262626; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.15in"></td><td style="width: 0.15in; text-align: left">•</td><td style="text-align: justify">it has reached the Advisor’s target sell price or no longer fits the Advisor’s valuation discipline; or</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 9pt/normal Arial, sans-serif; color: #262626; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.15in"></td><td style="width: 0.15in; text-align: left">•</td><td style="text-align: justify"> a more attractive investment opportunity is identified.</td> </tr></table> The words “Extended Term” in the Series’ name describe the investment horizon of those investors who may want to consider investing in the Series and do not reflect the Series’ maturity restrictions with respect to its investments in fixed income securities. Please see the “More Information About the Series’ Principal Investment Strategies and Principal Risks” section of the prospectus for the historical high and low equity exposures of the Series. You could lose money by investing in the Series. <p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zRxWPv1iBnnh" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Management risk — The value of your investment may decline if the Advisor’s judgments about the attractiveness, relative value or potential appreciation of a particular security or strategy prove to be incorrect. <p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zna37UJkfdu5" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Market risk — Because the Series invests in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. This means that you could lose money on your investment in the Series or the Series could underperform if any of the following occurs: •U.S. and/or foreign stock or bond markets decline. •An adverse event, such as an unfavorable earnings report, depresses the value of one or more of the Series’ portfolio holdings. •The issuer of a bond owned by the Series defaults on its obligation to pay principal and/or interest or has its credit rating downgraded; this risk is greater for lower-rated investment grade securities and junk bonds. •Interest rates rise, credit spreads widen, and/or repayment spreads widen. These events alone or in combination can cause bond prices to fall and reduce the value of the Series’ portfolio. Longer-term bonds will experience greater fluctuations than shorter-term bonds given their greater sensitivity to interest rate changes. •Market volatility and/or prepayment spreads change to such a degree that prepayment uncertainty/risks are reassessed; the greater the uncertainty/risk, the wider the requisite prepayment spread. •An epidemic, pandemic or natural disaster, or widespread fear that such events may occur, negatively affects the global economy, as well as the economies of individual countries, the financial performance of individual companies and sectors, and the markets in general in significant and unforeseen ways. Any such impact could adversely affect the prices and liquidity of the securities and other instruments in which the Series invests. Current market conditions may pose heightened risks for the Series. Interest rates in the U.S. are coming off historic lows, but recent changes in government policy have caused interest rates to rise and there is an increased risk that interest rates will continue to rise in the near future. An increase in interest rates may, in turn, increase volatility and reduce liquidity in the fixed income markets, and result in a decline in the value of the fixed income investments held by the Series. In addition, reductions in dealer market-making capacity as a result of structural or regulatory changes could further decrease liquidity and/or increase volatility in the fixed income markets. As a result of these conditions, the Series’ value may fluctuate and/or the Series may experience increased redemptions from shareholders, which may impact the Series’ liquidity or force the Series to sell securities into a declining or illiquid market. <p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignSecuritiesRiskMember_gRBRTB-GAVR_zdme3VChrqrj" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Foreign securities risk — Because the Series may invest in securities of foreign issuers, the Series is subject to additional risks. These include risks of adverse changes in foreign economic, political, regulatory and other conditions. The prices of foreign common stocks may, at times, move in a different direction than the prices of U.S. stocks. In addition, investments in emerging market countries may be more volatile than investments in more developed countries. The Series’ investments may be denominated in the currencies of the countries in which they are located; therefore, the value of the Series may be affected by changes in exchange rates between those foreign currencies and the U.S. dollar. In addition, periodic U.S. Government restrictions on investments in issuers from certain foreign countries may require the Series to sell such investments at inopportune times or prevent an investment the Advisor otherwise believes is attractive, each of which could result in losses to the Series. These restrictions may also negatively impact the market for securities of issuers that are similar to those directly impacted by the restrictions resulting in reduced liquidity and price declines in those securities as well. <p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapRiskMember_zQARjfmFhLNl" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Large-cap risk — Large-cap stocks tend to go in and out of favor based on market and economic conditions. During a period when large-cap stocks fall behind other types of investments — small-cap stocks, for instance — the Series’ performance could be reduced to the extent its portfolio is holding large-cap stocks. <p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallAndMidCapRiskMember_z3iQdumYecyf" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Small- and mid-cap risk — The Series may also have special risks due to its investments in stocks of small- and mid-size companies. These risks include the following: •The stocks of small- and mid-size companies may be subject to more abrupt or erratic market movements than the stocks of larger companies. •The stocks of small- and mid-size companies may be subject to liquidity risk because such stocks may have lower trading volume and be less marketable than the stocks of larger companies. Liquidity risk is further described below. •Small- and mid-size companies may have limited product lines, markets, or financial resources, and they may depend on a small management group. As a result, they fail more often than larger companies. <p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--HighYieldSecuritiesRiskMember_zIMLRJcFFHT5" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">High-yield securities risk — The Series is subject to additional risks due to its ability to invest in high-yield securities (junk bonds): •High-yield securities may underperform other sectors of the bond market, or the market as a whole. •The performance of high-yield securities tends to be more volatile than that of other sectors of the bond market. •Given the total size of the high-yield securities market, high-yield securities can be less liquid than investment grade securities. •The Series’ investments in high-yield securities will subject it to a substantial degree of credit risk because the prospect for repayment of principal and interest of many of these bonds is speculative. <p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--RisksOfLowerRatedInvestmentGradeSecuritiesMember_gRBRTB-EFDY_zCF9HcZ5PC49" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Risks of lower-rated investment grade securities — Securities with the lowest ratings within the investment grade categories carry more risk than those with the highest ratings. When a Series invests in securities in the lower rating categories, the achievement of its goals is more dependent on the Advisor’s ability than would be the case if the Series were to invest in higher-rated securities within the investment grade categories. The Advisor seeks to minimize this risk through investment analysis and attention to current developments in interest rates and economic conditions. <p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--USGovernmentSecuritiesRiskMember_zlVYWHpJLkEa" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">U.S. Government securities risk — Although U.S. Government securities are considered to be among the safest investments, they are not guaranteed against price movements due to changing interest rates. Obligations issued by some U.S. Government agencies are backed by the U.S. Treasury, while others are backed solely by the ability of the agency to borrow from the U.S. Treasury or by the agency’s own resources, and, therefore, such obligations are not backed by the full faith and credit of the United States government. <p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--MortgageAndAssetBackedSecuritiesRisksMember_zUae9UZsHDvc" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Mortgage- and asset-backed securities risks — The Series’ investments in mortgage-backed and asset-backed securities may subject it to the following additional risks: •Mortgage-backed securities are affected by, among other things, interest rate changes and the possibility of prepayment of the underlying mortgage loans. Mortgage-backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations. •Payment of principal and interest on asset-backed securities is dependent largely on the cash flows generated by the assets backing the securities, and asset-backed securities may not have the benefit of any security interest in the related assets. <p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsAndFuturesRiskMember_zp1Yy70wyldd" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Options and futures risk — The Series is subject to the following risks due to its ability to invest in options and futures: •Options and futures, like all derivatives, can be extremely sensitive to changes in the market value of the underlying investment, and changes in the value of an option or futures contract may not correlate perfectly with the underlying investment. •The Series may not be able to receive amounts payable to it under its options and futures contracts as quickly as it may be able to sell or otherwise obtain payments from other investments, so the Series’ investments in such contracts may not be as liquid as the Series’ other investments. <p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorFocusRiskMember_zSoUhcXVDfdj" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Sector focus risk — Because the Series’ investments may, from time to time, be more heavily invested in a particular sector or sectors, the value of its shares may be especially sensitive to factors and economic risks that specifically affect those sectors. As a result, the Series’ share price may fluctuate more widely than the value of shares of a mutual fund that invests in a broader range of sectors. <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--LiquidityRiskMember_zci5O62Odekf" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Liquidity risk — The Series is subject to the risk that, at certain times, its securities may be difficult or impossible to sell at the time and the price that the Series would like. The Series may have to lower the price, sell other securities instead or forego an investment opportunity, any of which could have a negative effect on the Series’ management or performance. <p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeRedemptionRiskMember_z2jeHoHi26e4" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Large redemption risk — Certain institutions or individuals may from time to time own (beneficially or of record) or control a significant percentage of the Series’ shares. Redemptions by these institutions or individuals in the Series may impact the Series’ liquidity and net asset value (NAV). These redemptions may also force the Series to sell securities, which may cause the Series to experience a loss (particularly during periods of declining or illiquid markets), as well as cause the Series’ portfolio turnover rate and transaction costs to rise, which may negatively affect the Series’ performance and increase the likelihood of capital gain distributions for remaining shareholders. Summary of Past Performance <span id="xdx_90B_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003639Member_zfmaKgUrzoOj">The bar chart and average annual total return table provide some indication of the risks of investing in the Series. The bar chart shows the variability in the performance of the Series by showing changes in the performance of the Class S shares of the Series for each of the last ten calendar years. The total return table shows how the average annual total returns for the Series for different periods compare to those of a broad-based securities index and a blended index. The 40/15/45 Blended Index is a blend of 40% MSCI USA Investable Market Index, 15% MSCI ACWI ex USA Index, and 45% Bloomberg U.S. Aggregate Bond Index. The 40/15/45 Blended Index is provided because it better reflects the asset allocation of the Series as compared with the broad-based index. Because the Series’ asset allocation will vary over time, the composition of the Series’ portfolio may not match the composition of the comparative indices’ portfolios. <span id="xdx_90F_eoef--PerformancePastDoesNotIndicateFuture_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003639Member_z5Lhkt6QKMse">Past performance (both before and after taxes) does not necessarily indicate how the Series will perform in the future. Quarterly updated performance information of the Series is available at <span id="xdx_90D_eoef--PerformanceAvailabilityWebSiteAddress_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003639Member_zkWvT0EKnCJa">www.manning-napier.com. The bar chart and average annual total return table provide some indication of the risks of investing in the Series. Past performance (both before and after taxes) does not necessarily indicate how the Series will perform in the future. www.manning-napier.com CALENDAR YEARS ENDED DECEMBER 31 <div id="xdx_A8F_eoef--BarChartTableTextBlock_zOS9BgOQ7ns"></div> <table border="0" cellpadding="0" cellspacing="0" id="xdx_A5F_dU_zRNwRyZNsKwe" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse; display: none" summary="xdx: Disclosure - Annual Total Returns"> <tr style="vertical-align: top"> <td style="text-align: left; width: 50%"> </td> <td id="xdx_489_eoef--AnnlRtrPct_dp_hoef--ClassAxis__custom--C000010113Member_zkW6EuCxIGr1" style="text-align: left; width: 50%"> </td></tr> <tr id="xdx_416_20160101__20161231_zSKHkQZmcyy7" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2016</td> <td style="text-align: left">3.84%</td></tr> <tr id="xdx_419_20170101__20171231_zQvg337RyiUh" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2017</td> <td style="text-align: left">14.87%</td></tr> <tr id="xdx_41E_20180101__20181231_zrlx4e5FVCC4" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2018</td> <td style="text-align: left">-4.26%</td></tr> <tr id="xdx_41D_20190101__20191231_z5Yo9bQcVV4c" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2019</td> <td style="text-align: left">19.29%</td></tr> <tr id="xdx_410_20200101__20201231_za7LwsnaYFBd" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2020</td> <td style="text-align: left">17.60%</td></tr> <tr id="xdx_414_20210101__20211231_zoQ8wbTjajW6" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2021</td> <td style="text-align: left">11.29%</td></tr> <tr id="xdx_418_20220101__20221231_zzMS46TtETWc" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2022</td> <td style="text-align: left">-16.72%</td></tr> <tr id="xdx_41A_20230101__20231231_zGWCnsfOLWxb" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2023</td> <td style="text-align: left">13.14%</td></tr> <tr id="xdx_411_20240101__20241231_zUX5OERfcCni" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2024</td> <td style="text-align: left">7.18%</td></tr> <tr id="xdx_416_20250101__20251231_zI7VravxLEe4" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2025</td> <td style="text-align: left">10.02%</td></tr> </table> <div style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 6pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left"> <div style="border-width: 0pt; padding: 0pt; overflow: hidden; display: inline-block; width: 313.2pt; height: 203.38pt; text-align: left"> <img alt="" src="promulti-proimg005.gif" style="vertical-align: top; margin-left: -15.6pt; width: 326.4pt; margin-top: 7.19pt; height: 187.2pt"/> </div> </div> 0.0384 0.1487 -0.0426 0.1929 0.1760 0.1129 -0.1672 0.1314 0.0718 0.1002 <p id="xdx_A86_eoef--BarChartClosingTextBlock_zMyXRsMaLyh5" style="font: 12pt/normal Times New Roman, Times, serif; margin: 4pt 0pt 0pt; text-transform: none; color: #328345; text-indent: 0pt; text-align: left">Quarterly Returns Highest (quarter ended 06/30/2020): 12.83% Lowest (quarter ended 06/30/2022): (9.46)% Highest 2020-06-30 0.1283 Lowest 2022-06-30 -0.0946 <div id="xdx_A8B_eoef--PerformanceTableTextBlock_zEcErkaMfbVj"></div> <table style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 162pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> </tr> <tr style="min-height: 3pt"> <td colspan="4" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> <span id="xdx_90C_eoef--PerformanceTableHeading_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003639Member_gIFPTH-TPTW_zVBDuHW1zrai">AVERAGE ANNUAL TOTAL RETURNS  FOR PERIODS ENDED DECEMBER 31, 2025 </td> </tr> </table> <div></div> <table id="xdx_A56_dU_zsKRIBUCcIQd" style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 162pt"> </td> <td id="xdx_496_20250101__20251231_zCq6yPcy4tal" style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> 1 Year </td> <td id="xdx_490_20210101__20251231_ze68YImJivFd" style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> 5 Years </td> <td id="xdx_498_20160101__20251231_zqDiQC7LoFtg" style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> 10 Years </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class S Shares </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> </tr> <tr id="xdx_40E_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000010113Member_zSdgvxQmq9of" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">10.02% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">4.34% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">7.07% </td> </tr> <tr id="xdx_405_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000010113Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zql7kaK3rPu1" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return After Taxes on Distributions </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">7.41% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">2.94% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">5.65% </td> </tr> <tr id="xdx_40A_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000010113Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zvUI5B3dFhOe" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return After Taxes on Distributions and Sale of Series Shares </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">7.47% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">3.07% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">5.29% </td> </tr> <tr id="xdx_403_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000059954Member_zv4xPaLu12oi" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class I Shares – Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">10.31% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">4.58% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">7.32% </td> </tr> <tr id="xdx_404_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000010111Member_z6qyqdSP21kf" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class R Shares – Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">9.70% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">4.07% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">6.80% </td> </tr> <tr id="xdx_40B_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000010109Member_z5Yy4uDi2fia" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class L Shares – Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">9.15% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">3.54% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">6.26% </td> </tr> <tr style="min-height: 3pt"> <td colspan="4" style="border-width: 0pt; padding: 3pt 6pt; vertical-align: bottom; border-collapse: collapse"> Indices: <span id="xdx_907_eoef--IndexNoDeductionForFeesExpensesTaxes_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003639Member_zsoBvudXyRJi">(reflect no deduction for fees, expenses, or taxes) </td> </tr> <tr id="xdx_409_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--MsciUsaImiIndexMember_zuhRe2RGD9nb" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> MSCI USA IMI Index </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">16.81% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">12.82% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">13.84% </td> </tr> <tr id="xdx_408_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--BlendedIndex401545Member_zLVLSF9qEdfi" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 40/15/45 Blended Index1 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">14.76% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">6.20% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">7.86% </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; color: #262626; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">1</td><td style="width: 5pt"></td><td style="text-align: justify">The returns of the indices do not reflect any fees or expenses. Returns provided are calculated monthly using a blended allocation, as noted above.</td> </tr></table> AVERAGE ANNUAL TOTAL RETURNS FOR PERIODS ENDED DECEMBER 31, 2025 0.1002 0.0434 0.0707 0.0741 0.0294 0.0565 0.0747 0.0307 0.0529 0.1031 0.0458 0.0732 0.0970 0.0407 0.0680 0.0915 0.0354 0.0626 (reflect no deduction for fees, expenses, or taxes) 0.1681 0.1282 0.1384 0.1476 0.0620 0.0786 <p id="xdx_A80_eoef--PerformanceTableClosingTextBlock_zlThkVRzMx8b" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">No performance is shown for the Class Z Shares because they were not active prior to the date of this prospectus. Except for differences in returns resulting from differences in expenses, the classes would have substantially similar returns because each class invests in the same portfolio of securities. <span id="xdx_906_eoef--PerformanceTableUsesHighestFederalRate_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003639Member_zVk15yDI2sX6">The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. <span id="xdx_905_eoef--PerformanceTableOneClassOfAfterTaxShown_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003639Member_zP6T6mfa11da">The after-tax returns are shown for one share class only, and would be different for the other share classes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. <span id="xdx_904_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003639Member_zRBw4YCd8551">After-tax returns are not relevant to investors who hold their Series shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. The after-tax returns are shown for one share class only, and would be different for the other share classes. After-tax returns are not relevant to investors who hold their Series shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Pro-Blend® Maximum Term Series Investment Goal The Series’ objective is to provide long-term growth of capital. Fees and Expenses This table describes the fees and expenses you may pay if you buy, hold, and sell shares of the Series. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below. <div id="xdx_A8D_eoef--ShareholderFeesTableTextBlock_z7HVEpDy2wT9"></div> <table id="xdx_A5B_dU_zH2ePZ7MRDM8" style="table-layout: fixed; width: 648pt; margin-top: 0pt; margin-bottom: 0pt; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 360pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 57.59pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 57.59pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 57.59pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 57.59pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 57.59pt"> </td> </tr> <tr style="min-height: 10.9pt"> <td style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> CLASS </td> <td id="xdx_494_20260227__20260227__oef--ClassAxis__custom--C000010118Member_zZ0NIfZ6pdL1" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> S </td> <td id="xdx_494_20260227__20260227__oef--ClassAxis__custom--C000059955Member_zs7Oh56lkbx3" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> I </td> <td id="xdx_493_20260227__20260227__oef--ClassAxis__custom--C000010116Member_zU3iAqQXiUGk" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> R </td> <td id="xdx_495_20260227__20260227__oef--ClassAxis__custom--C000010114Member_zCbYX6xIyoii" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> L </td> <td id="xdx_491_20260227__20260227__oef--ClassAxis__custom--C000010115Member_zLvWtj888EPe" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> Z </td> </tr> <tr id="xdx_40C_eoef--ShareholderFeeOther_dn_zpmDNIMG2NT7" style="min-height: 16.35pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_98B_eoef--ShareholderFeesCaption_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003640Member_zUvio1rMhQk1" style="font: 8pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Shareholder Fees (fees paid directly from your investment) </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> </tr> </table> Shareholder Fees (fees paid directly from your investment) 0 0 0 0 0 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) <div id="xdx_A8F_eoef--AnnualFundOperatingExpensesTableTextBlock_zjqMdmkWgbo"></div> <table id="xdx_A57_dU_ztSHdOaHkD39" style="width: 648pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="min-height: 16.35pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_491_20260227__20260227__oef--ClassAxis__custom--C000010118Member_zpZS79dzRY1b" style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_494_20260227__20260227__oef--ClassAxis__custom--C000059955Member_zTaJvyHmoIla" style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_490_20260227__20260227__oef--ClassAxis__custom--C000010116Member_zrwiGuywZryj" style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_496_20260227__20260227__oef--ClassAxis__custom--C000010114Member_zSPaQNjgprJ9" style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_499_20260227__20260227__oef--ClassAxis__custom--C000010115Member_zd4ftcPdp7dc" style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td></tr> <tr id="xdx_40A_eoef--ManagementFeesOverAssets_dpn_zwzDfvafIZFf" style="min-height: 16.35pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 360pt"> Management Fees </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 57.59pt"> 0.60% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 57.59pt"> 0.60% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 57.59pt"> 0.60% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 57.59pt"> 0.60% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 57.59pt"> 0.60% </td> </tr> <tr id="xdx_40A_eoef--DistributionAndService12b1FeesOverAssets_dpn_zsGyDe7gvVeb" style="min-height: 16.95pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Distribution and Service (12b-1) Fees </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.25% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.50% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 1.00% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> </tr> <tr id="xdx_406_eoef--OtherExpensesOverAssets_dpn_zS20Er8w2KNf" style="min-height: 16.35pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Other Expenses </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.26% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.29% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.21% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.23% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.18% </td> </tr> <tr id="xdx_407_eoef--ExpensesOverAssets_dpn_zsqiAXTO0Ygc" style="min-height: 16.35pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Total Annual Fund Operating Expenses </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.11% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.89% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.31% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.83% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.78% </td> </tr> <tr id="xdx_40B_eoef--FeeWaiverOrReimbursementOverAssets_dpn_zflGZcUvA2V3" style="min-height: 16.95pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Less Fee Waiver and/or Expense Reimbursement1 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">(0.01)% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">(0.04)% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">None </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">(0.08)% </td> </tr> <tr id="xdx_40C_eoef--NetExpensesOverAssets_dpn_zehy3HYLO7wk" style="min-height: 26.7pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.10% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.85% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.31% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">1.83% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.70% </td> </tr> </table> <div class="qes_column"> </div> <div class="qes_column"> <table cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; color: #262626; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">1</td><td style="width: 5pt"></td><td style="text-align: justify">Manning & Napier Advisors, LLC (the Advisor or Manning & Napier) has contractually agreed to limit its fees and reimburse expenses to the extent necessary. In addition, the Advisor has contractually agreed to reimburse expenses to the extent necessary so that the total direct annual fund operating expenses, exclusive of Distribution and Service (12b-1) Fees (“excluded expenses”), do not exceed 0.85% of the average daily net assets of the Class S, Class I, Class R, and Class L shares, and 0.70% of the average daily net assets of the Class Z shares. These contractual waivers will continue indefinitely, and may only be amended or terminated with the approval of the Series’ Board of Directors. The Advisor’s agreement to limit each Class’s operating expenses is limited to direct operating expenses and, therefore, does not apply to acquired fund fees and expenses, which are indirect expenses incurred by the Series through its investments in other investment companies. The Advisor may receive from a Class the difference between the Class’s total direct annual fund operating expenses, not including excluded expenses, and the Class’s contractual expense limit to recoup all or a portion of its prior fee waivers or expense reimbursements made during the rolling three-year period (i.e., the three year period following a waiver or reimbursement) preceding the recoupment if at any point the total direct annual fund operating expenses, not including excluded expenses, are below the contractual expense limit (a) at the time of the fee waiver and/or expense reimbursement and (b) at the time of the recoupment.</td> </tr></table> </div> 0.0060 0.0060 0.0060 0.0060 0.0060 0.0025 0 0.0050 0.0100 0 0.0026 0.0029 0.0021 0.0023 0.0018 0.0111 0.0089 0.0131 0.0183 0.0078 -0.0001 -0.0004 0 0 -0.0008 0.0110 0.0085 0.0131 0.0183 0.0070 Example <p id="xdx_A8D_eoef--ExpenseExampleNarrativeTextBlock_zgPyvkRoGCC9" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The Example below is intended to help you compare the cost of investing in the Series with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Series for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Series’ operating expenses remain the same (taking into account the Advisor’s contractual waivers). Although your actual costs may be higher or lower, based on these assumptions your costs would be: <div id="xdx_A81_eoef--ExpenseExampleWithRedemptionTableTextBlock_zMvKyKD0gaCd"></div> <table id="xdx_A56_dU_zdmBeOsR1cze" style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> </tr> <tr style="min-height: 3pt"> <td style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> CLASS </td> <td id="xdx_492_20260227__20260227__oef--ClassAxis__custom--C000010118Member_zsDopRDw6Xu3" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> S </td> <td id="xdx_496_20260227__20260227__oef--ClassAxis__custom--C000059955Member_zAvLPD4AtN08" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> I </td> <td id="xdx_495_20260227__20260227__oef--ClassAxis__custom--C000010116Member_z71fq2afIi61" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> R </td> <td id="xdx_49F_20260227__20260227__oef--ClassAxis__custom--C000010114Member_zjKLKtAVrEK" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> L </td> <td id="xdx_495_20260227__20260227__oef--ClassAxis__custom--C000010115Member_zA0p6yw9pjW7" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> Z </td> </tr> <tr id="xdx_40A_eoef--ExpenseExampleYear01_z2DAbjBcpgl5" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 1 Year </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $112 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $87 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$133 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$186 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $72 </td> </tr> <tr id="xdx_40E_eoef--ExpenseExampleYear03_zu7qFjNCCxKj" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 3 Years </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $350 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $271 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$414 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$576 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $225 </td> </tr> <tr id="xdx_40F_eoef--ExpenseExampleYear05_z4GtTR60g6N3" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 5 Years </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $607 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $471 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$717 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$991 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $391 </td> </tr> <tr id="xdx_40B_eoef--ExpenseExampleYear10_zcHOvisMZHo2" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 10 Years </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $1,341 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $1,048 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$1,578 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$2,148 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $871 </td> </tr> </table> 112 87 133 186 72 350 271 414 576 225 607 471 717 991 391 1341 1048 1578 2148 871 Portfolio Turnover The Series pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Series shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the performance of the Series. During the most recent fiscal year, the portfolio turnover rate of the Series was 86% of the average value of its portfolio. 0.86 Principal Investment Strategies <p id="xdx_A81_eoef--StrategyNarrativeTextBlock_gRBSNTB-BHT_zOMyFnQc08tl" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The Advisor seeks to generate the high level of long-term capital growth typically associated with a long-term investment in the general stock market. The Series invests primarily in common stocks and in long-term fixed income securities. The Series may invest in U.S. and foreign stocks, including those in emerging markets, American Depository Receipts (ADRs), and derivatives instruments (as described below). The Series may invest in stocks of small-, large-, or mid-size companies. In the fixed income portion of the portfolio, the Series invests primarily in U.S. Treasury securities, and U.S. and foreign mortgage-backed and asset-backed securities and corporate bonds. The Series is not subject to any duration or maturity restrictions and will vary its average dollar weighted portfolio maturity depending on the Advisor’s outlook for yields. The Series invests primarily in investment grade securities, those securities rated BBB- or above by S&P or Baa3 or above by Moody’s (or determined to be of equivalent quality by the Advisor), but may also invest in non-investment grade securities (junk bonds). There are no prescribed limits on the sector allocations of the Series’ investments and, from time to time, the Series may focus its investments in one or more sectors. When the Advisor wishes to purchase or sell a security at a specified price, it may seek to generate additional gains for the Series by writing (selling) options on the underlying security, targeting options with premiums that are believed to offer sufficient income to compensate the Series for the risks associated with the option. Options are written only on stocks that the Advisor is planning to buy (in the case of puts) or sell (in the case of calls). In addition, the Series may buy and sell futures contracts based on fixed income securities, interest rates, and currencies, to seek to enhance returns, manage duration, hedge interest rate risk, and reduce volatility. The Advisor may target fixed income futures that are believed to offer the Series the opportunity to more efficiently manage duration and gain exposure to certain markets. The Advisor will consider selling a security if: <table cellpadding="0" cellspacing="0" style="font: 9pt/normal Arial, sans-serif; color: #262626; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.15in"></td><td style="width: 0.15in; text-align: left">•</td><td style="text-align: justify">it no longer fits the Series’ investment strategies or Advisor’s investment thesis;</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 9pt/normal Arial, sans-serif; color: #262626; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.15in"></td><td style="width: 0.15in; text-align: left">•</td><td style="text-align: justify">it has reached the Advisor’s target sell price or no longer fits the Advisor’s valuation discipline; or</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 9pt/normal Arial, sans-serif; color: #262626; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.15in"></td><td style="width: 0.15in; text-align: left">•</td><td style="text-align: justify">a more attractive investment opportunity is identified.</td> </tr></table> The words “Maximum Term” in the Series’ name describe the investment horizon of those investors who may want to consider investing in the Series and do not reflect the Series’ maturity restrictions with respect to its investments in fixed income securities. Please see the “More Information About the Series’ Principal Investment Strategies and Principal Risks” section of the prospectus for the historical high and low equity exposures of the Series. You could lose money by investing in the Series. <p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zdzsr7QB4OVc" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Management risk — The value of your investment may decline if the Advisor’s judgments about the attractiveness, relative value or potential appreciation of a particular security or strategy prove to be incorrect. <p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zElumyjtcfG" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Market risk — Because the Series invests in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. This means that you could lose money on your investment in the Series or the Series could underperform if any of the following occurs: •U.S. and/or foreign stock or bond markets decline. •An adverse event, such as an unfavorable earnings report, depresses the value of one or more of the Series’ portfolio holdings. •The issuer of a bond owned by the Series defaults on its obligation to pay principal and/or interest or has its credit rating downgraded; this risk is greater for lower-rated investment grade securities and junk bonds. •Interest rates rise, credit spreads widen, and/or repayment spreads widen. These events alone or in combination can cause bond prices to fall and reduce the value of the Series’ portfolio. Longer-term bonds will experience greater fluctuations than shorter-term bonds given their greater sensitivity to interest rate changes. •Market volatility and/or prepayment spreads change to such a degree that prepayment uncertainty/risks are reassessed; the greater the uncertainty/risk, the wider the requisite prepayment spread. •An epidemic, pandemic or natural disaster, or widespread fear that such events may occur, negatively affects the global economy, as well as the economies of individual countries, the financial performance of individual companies and sectors, and the markets in general in significant and unforeseen ways. Any such impact could adversely affect the prices and liquidity of the securities and other instruments in which the Series invests. Current market conditions may pose heightened risks for the Series. Interest rates in the U.S. are coming off historic lows, but recent changes in government policy have caused interest rates to rise and there is an increased risk that interest rates will continue to rise in the near future. An increase in interest rates may, in turn, increase volatility and reduce liquidity in the fixed income markets, and result in a decline in the value of the fixed income investments held by the Series. In addition, reductions in dealer market-making capacity as a result of structural or regulatory changes could further decrease liquidity and/or increase volatility in the fixed income markets. As a result of these conditions, the Series’ value may fluctuate and/or the Series may experience increased redemptions from shareholders, which may impact the Series’ liquidity or force the Series to sell securities into a declining or illiquid market. <p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignSecuritiesRiskMember_gRBRTB-ZZR_zmnnrM74UDyk" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Foreign securities risk — Because the Series may invest in securities of foreign issuers, the Series is subject to additional risks. These include risks of adverse changes in foreign economic, political, regulatory and other conditions. The prices of foreign common stocks may, at times, move in a different direction than the prices of U.S. stocks. In addition, investments in emerging market countries may be more volatile than investments in more developed countries. The Series’ investments may be denominated in the currencies of the countries in which they are located; therefore, the value of the Series may be affected by changes in exchange rates between those foreign currencies and the U.S. dollar. In addition, periodic U.S. Government restrictions on investment in issuers from certain foreign countries may require the Series to sell such investments at inopportune times or prevent an investment the Advisor otherwise believes is attractive, each of which could result in losses to the Series. These restrictions may also negatively impact the market for securities of issuers that are similar to those directly impacted by the restrictions resulting in reduced liquidity and price declines in those securities as well. <p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapRiskMember_z4LE3MlzJK1" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Large-cap risk — Large-cap stocks tend to go in and out of favor based on market and economic conditions. During a period when large-cap stocks fall behind other types of investments — small-cap stocks, for instance — the Series’ performance could be reduced to the extent its portfolio is holding large-cap stocks. <p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallAndMidCapRiskMember_zy418WrSYVRi" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Small- and mid-cap risk — The Series may also have special risks due to its investments in stocks of small- and mid-size companies. These risks include the following: •The stocks of small- and mid-size companies may be subject to more abrupt or erratic market movements than the stocks of larger companies. •The stocks of small- and mid-size companies may be subject to liquidity risk because such stocks may have lower trading volume and be less marketable than the stocks of larger companies. Liquidity risk is further described below. •Small- and mid-size companies may have limited product lines, markets, or financial resources, and they may depend on a small management group. As a result, they fail more often than larger companies. <p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--HighYieldSecuritiesRiskMember_z1VHnfQDu859" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">High-yield securities risk — The Series is subject to additional risks due to its ability to invest in high-yield securities (junk bonds): •High-yield securities may underperform other sectors of the bond market, or the market as a whole. •The performance of high-yield securities tends to be more volatile than that of other sectors of the bond market. •Given the total size of the high-yield securities market, high-yield securities can be less liquid than investment grade securities. •The Series’ investments in high-yield securities will subject it to a substantial degree of credit risk because the prospect for repayment of principal and interest of many of these bonds is speculative. <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--RisksOfLowerRatedInvestmentGradeSecuritiesMember_gRBRTB-GARJ_zh4KoH3qiXZ7" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Risks of lower-rated investment grade securities — Securities with the lowest ratings within the investment grade categories carry more risk than those with the highest ratings. When a Series invests in securities in the lower rating categories, the achievement of its goals is more dependent on the Advisor’s ability than would be the case if the Series were to invest in higher-rated securities within the investment grade categories. The Advisor seeks to minimize this risk through investment analysis and attention to current developments in interest rates and economic conditions. <p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--USGovernmentSecuritiesRiskMember_zTpsRtq2gR6a" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">U.S. Government securities risk — Although U.S. Government securities are considered to be among the safest investments, they are not guaranteed against price movements due to changing interest rates. Obligations issued by some U.S. Government agencies are backed by the U.S. Treasury, while others are backed solely by the ability of the agency to borrow from the U.S. Treasury or by the agency’s own resources, and, therefore, such obligations are not backed by the full faith and credit of the United States government. <p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--MortgageAndAssetBackedSecuritiesRisksMember_zloI2xEZeri" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Mortgage- and asset-backed securities risks — The Series’ investments in mortgage-backed and asset-backed securities may subject it to the following additional risks: •Mortgage-backed securities are affected by, among other things, interest rate changes and the possibility of prepayment of the underlying mortgage loans. Mortgage-backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations. •Payment of principal and interest on asset-backed securities is dependent largely on the cash flows generated by the assets backing the securities, and asset-backed securities may not have the benefit of any security interest in the related assets. <p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsAndFuturesRiskMember_zPuoTvbBoPTb" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Options and futures risk — The Series is subject to the following risks due to its ability to invest in options and futures: •Options and futures, like all derivatives, can be extremely sensitive to changes in the market value of the underlying investment, and changes in the value of an option or futures contract may not correlate perfectly with the underlying investment. •The Series may not be able to receive amounts payable to it under its options and futures contracts as quickly as it may be able to sell or otherwise obtain payments from other investments, so the Series’ investments in such contracts may not be as liquid as the Series’ other investments. <p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorFocusRiskMember_z9v5fkvzmeq3" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Sector focus risk — Because the Series’ investments may, from time to time, be more heavily invested in a particular sector or sectors, the value of its shares may be especially sensitive to factors and economic risks that specifically affect those sectors. As a result, the Series’ share price may fluctuate more widely than the value of shares of a mutual fund that invests in a broader range of sectors. <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--LiquidityRiskMember_zf93OvaxENdg" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Liquidity risk — The Series is subject to the risk that, at certain times, its securities may be difficult or impossible to sell at the time and the price that the Series would like. The Series may have to lower the price, sell other securities instead or forego an investment opportunity, any of which could have a negative effect on the Series’ management or performance. <p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeRedemptionRiskMember_z6kIvyGsKzJ8" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Large redemption risk — Certain institutions or individuals may from time to time own (beneficially or of record) or control a significant percentage of the Series’ shares. Redemptions by these institutions or individuals in the Series may impact the Series’ liquidity and net asset value (NAV). These redemptions may also force the Series to sell securities, which may cause the Series to experience a loss (particularly during periods of declining or illiquid markets), as well as cause the Series’ portfolio turnover rate and transaction costs to rise, which may negatively affect the Series’ performance and increase the likelihood of capital gain distributions for remaining shareholders. Summary of Past Performance <span id="xdx_90F_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003640Member_z4D3xbqQZno3">The bar chart and average annual total return table provide some indication of the risks of investing in the Series. The bar chart shows the variability in the performance of the Series by showing changes in the performance of the Class S shares of the Series for each of the last ten calendar years. The total return table shows how the average annual total returns for the Series for different periods compare to those of a broad-based securities index and a blended index. The 65/20/15 Blended Index is a blend of 65% MSCI USA Investable Market Index, 20% MSCI ACWI ex USA Index, and 15% Bloomberg U.S. Aggregate Bond Index. The 65/20/15 Blended Index is provided because it better reflects the asset allocation of the Series as compared with the broad-based index. Because the Series’ asset allocation will vary over time, the composition of the Series’ portfolio may not match the composition of the comparative indices’ portfolios. <span id="xdx_907_eoef--PerformancePastDoesNotIndicateFuture_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003640Member_zDdW0xikQdnb">Past performance (both before and after taxes) does not necessarily indicate how the Series will perform in the future. Quarterly updated performance information of the Series is available at <span id="xdx_903_eoef--PerformanceAvailabilityWebSiteAddress_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003640Member_zQsdh8InB9e2">www.manning-napier.com. The bar chart and average annual total return table provide some indication of the risks of investing in the Series. Past performance (both before and after taxes) does not necessarily indicate how the Series will perform in the future. www.manning-napier.com CALENDAR YEARS ENDED DECEMBER 31 <div id="xdx_A8E_eoef--BarChartTableTextBlock_z0zerHtDt1Cl"></div> <table border="0" cellpadding="0" cellspacing="0" id="xdx_A5A_dU_zPHLgtSSJC35" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse; display: none" summary="xdx: Disclosure - Annual Total Returns"> <tr style="vertical-align: top"> <td style="text-align: left; width: 50%"> </td> <td id="xdx_481_eoef--AnnlRtrPct_dp_hoef--ClassAxis__custom--C000010118Member_zEYsVbiCkWe2" style="text-align: left; width: 50%"> </td></tr> <tr id="xdx_416_20160101__20161231_zvshnI4vnkgi" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2016</td> <td style="text-align: left">4.56%</td></tr> <tr id="xdx_419_20170101__20171231_z60cLHLz8wci" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2017</td> <td style="text-align: left">24.19%</td></tr> <tr id="xdx_41E_20180101__20181231_z0nOYub8TBrf" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2018</td> <td style="text-align: left">-6.36%</td></tr> <tr id="xdx_41D_20190101__20191231_zm8gJWh4rwX4" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2019</td> <td style="text-align: left">27.65%</td></tr> <tr id="xdx_410_20200101__20201231_zrNl9yI7jG91" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2020</td> <td style="text-align: left">22.08%</td></tr> <tr id="xdx_414_20210101__20211231_z4zU1gRPyBcd" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2021</td> <td style="text-align: left">18.43%</td></tr> <tr id="xdx_418_20220101__20221231_zmHUxh4dT9xk" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2022</td> <td style="text-align: left">-20.41%</td></tr> <tr id="xdx_41A_20230101__20231231_z8OGs0dl8IFa" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2023</td> <td style="text-align: left">19.05%</td></tr> <tr id="xdx_411_20240101__20241231_zhuli192to0e" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2024</td> <td style="text-align: left">11.89%</td></tr> <tr id="xdx_416_20250101__20251231_zxByDRTImu2l" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2025</td> <td style="text-align: left">12.08%</td></tr> </table> <div style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 10pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left"> <div style="border-width: 0pt; padding: 0pt; overflow: hidden; display: inline-block; width: 313.2pt; height: 203.38pt; text-align: left"> <img alt="" src="promulti-proimg006.gif" style="vertical-align: top; margin-left: -16.8pt; width: 330pt; margin-top: 7.19pt; height: 189.6pt"/> </div> </div> 0.0456 0.2419 -0.0636 0.2765 0.2208 0.1843 -0.2041 0.1905 0.1189 0.1208 <p id="xdx_A86_eoef--BarChartClosingTextBlock_zIHG7m1lejPi" style="font: 12pt/normal Times New Roman, Times, serif; margin: 4pt 0pt 0pt; text-transform: none; color: #328345; text-indent: 0pt; text-align: left">Quarterly Returns Highest (quarter ended 06/30/2020): 20.63% Lowest (quarter ended 03/31/2020): (15.86)% Highest 2020-06-30 0.2063 Lowest 2020-03-31 -0.1586 <div id="xdx_A80_eoef--PerformanceTableTextBlock_zs3DoTXDiuU4"></div> <table style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 162pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> </tr> <tr style="min-height: 3pt"> <td colspan="4" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> <span id="xdx_90B_eoef--PerformanceTableHeading_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003640Member_gIFPTH-YPHST_zrFO8oI98NDh">AVERAGE ANNUAL TOTAL RETURNS  FOR PERIODS ENDED DECEMBER 31, 2025 </td> </tr> </table> <div></div> <table id="xdx_A53_dU_zZAUgeaSSop3" style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 162pt"> </td> <td id="xdx_496_20250101__20251231_zfmwCgkMYHc2" style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> 1 Year </td> <td id="xdx_490_20210101__20251231_z7sMaGWfMEWf" style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> 5 Years </td> <td id="xdx_49C_20160101__20251231_zh6NDPNVqGsi" style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> 10 Years </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class S Shares </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> </tr> <tr id="xdx_400_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000010118Member_zMPqt14RAA4b" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">12.08% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">7.07% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">10.30% </td> </tr> <tr id="xdx_40C_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000010118Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zCfIbaka8Ggb" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return After Taxes on Distributions </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">9.48% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">5.30% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">8.64% </td> </tr> <tr id="xdx_405_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000010118Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zFPbQGUMlMae" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return After Taxes on Distributions and Sale of Series Shares </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">8.95% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">5.26% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">8.03% </td> </tr> <tr id="xdx_405_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000059955Member_zne3YHBEKXBg" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class I Shares – Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">12.36% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">7.35% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">10.58% </td> </tr> <tr id="xdx_407_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000010116Member_zK5oboq7Lwy7" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class R Shares – Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">11.83% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">6.84% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">10.05% </td> </tr> <tr id="xdx_405_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000010114Member_zfYEC59hn8J4" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class L Shares – Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">11.26% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">6.28% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">9.49% </td> </tr> <tr style="min-height: 3pt"> <td colspan="4" style="border-width: 0pt; padding: 3pt 6pt; vertical-align: bottom; border-collapse: collapse"> Indices: <span id="xdx_907_eoef--IndexNoDeductionForFeesExpensesTaxes_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003640Member_z2aHLsN4rFp9">(reflect no deduction for fees, expenses, or taxes) </td> </tr> <tr id="xdx_402_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--MsciUsaImiIndexMember_zmUm6J94YSZ4" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> MSCI USA IMI Index </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">16.81% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">12.82% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">13.84% </td> </tr> <tr id="xdx_406_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--BlendedIndex652015Member_zxS0FulFVZMc" style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 65/20/15 Blended Index1 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">18.41% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">9.92% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">11.09% </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; color: #262626; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">1</td><td style="width: 5pt"></td><td style="text-align: justify">Returns provided are calculated monthly using a blended allocation, as noted above.</td> </tr></table> AVERAGE ANNUAL TOTAL RETURNS FOR PERIODS ENDED DECEMBER 31, 2025 0.1208 0.0707 0.1030 0.0948 0.0530 0.0864 0.0895 0.0526 0.0803 0.1236 0.0735 0.1058 0.1183 0.0684 0.1005 0.1126 0.0628 0.0949 (reflect no deduction for fees, expenses, or taxes) 0.1681 0.1282 0.1384 0.1841 0.0992 0.1109 <p id="xdx_A80_eoef--PerformanceTableClosingTextBlock_zb31VMzccrB3" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">No performance is shown for the Class Z Shares because they were not active prior to the date of this prospectus. Except for differences in returns resulting from differences in expenses, the classes would have substantially similar returns because each class invests in the same portfolio of securities. <span id="xdx_903_eoef--PerformanceTableUsesHighestFederalRate_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003640Member_zkmGqcISxh29">The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. <span id="xdx_906_eoef--PerformanceTableOneClassOfAfterTaxShown_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003640Member_zkDGidDOL3Mc">The after-tax figures are shown for one share class only, and would be different for the other share classes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. <span id="xdx_909_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--MultiClassesMember__dei--LegalEntityAxis__custom--S000003640Member_zETWFJdqRc3a">After- tax returns are not relevant to investors who hold their Series shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. The after-tax figures are shown for one share class only, and would be different for the other share classes. After- tax returns are not relevant to investors who hold their Series shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Pro-Blend® Conservative Term Series Investment Goal The Series’ primary objective is to provide preservation of capital and its secondary objectives are to provide income and long-term growth of capital. Fees and Expenses <p id="xdx_A88_eoef--ExpenseNarrativeTextBlock_zcmHxTtK9pg5" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; -sec-ix-redline: true; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">This table describes the fees and expenses you may pay if you buy, hold, and sell Class W shares of the Series. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below. <div id="xdx_A80_eoef--ShareholderFeesTableTextBlock_znCeGaauMKui"></div> <table id="xdx_A58_dU_zVH2fjCQ91I5" style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 0pt; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 252pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> </tr> <tr style="min-height: 3pt"> <td style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> CLASS </td> <td style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> W </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_982_eoef--ShareholderFeesCaption_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--ClassWMember__dei--LegalEntityAxis__custom--S000003625Member_zr2DaINmrfqc" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Shareholder Fees (fees paid directly from your investment) </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> </tr> </table> Shareholder Fees (fees paid directly from your investment) 0 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) <div id="xdx_A8C_eoef--AnnualFundOperatingExpensesTableTextBlock_z8nLP8kIhS79"></div> <table id="xdx_A55_dU_zdOl6JHO5oGc" style="width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="display: none; visibility: hidden; min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_492_20260227__20260227__oef--ClassAxis__custom--C000206442Member_zsjqtIiGAFud" style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td></tr> <tr id="xdx_40E_eoef--ManagementFeesOverAssets_dpn_z9NG61yUdRba" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 252pt"> Management Fees </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 61.19pt"> 0.40% </td> </tr> <tr id="xdx_40C_eoef--DistributionAndService12b1FeesOverAssets_dpn_zo4tMO2Lm4Sh" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Distribution and Service (12b-1) Fees </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> </tr> <tr id="xdx_40C_eoef--OtherExpensesOverAssets_dpn_zD1LtWg6HGg7" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Other Expenses </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.16% </td> </tr> <tr id="xdx_400_eoef--ExpensesOverAssets_dpn_zQm0ePkaZPEd" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Total Annual Fund Operating Expenses </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.56% </td> </tr> <tr id="xdx_40B_eoef--FeeWaiverOrReimbursementOverAssets_dpn_zbojMX8VqLYe" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Less Fee Waiver and/or Expense Reimbursement1 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> (0.46)% </td> </tr> <tr id="xdx_403_eoef--NetExpensesOverAssets_dpn_z39nwpac3Kgk" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.10% </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; -sec-ix-redline: true; color: #262626; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">1</td><td style="width: 5pt"></td><td style="text-align: justify">Manning & Napier Advisors, LLC (the Advisor or Manning & Napier) has contractually agreed to waive the management fee for the Class W shares. In addition, the Advisor has contractually agreed to reimburse expenses to the extent necessary so that the total direct annual fund operating expenses, exclusive of Distribution and Service (12b-1) Fees and waived Class W management fees (collectively, “excluded expenses”), do not exceed 0.10% of the average daily net assets of the Class W shares. These contractual waivers will continue indefinitely, and may only be amended or terminated with the approval of the Series’ Board of Directors. The Advisor’s agreement to limit Class W’s operating expenses is limited to direct operating expenses and, therefore, does not apply to acquired fund fees and expenses, which are indirect expenses incurred by the Series through its investments in other investment companies. The Advisor may receive from a Class the difference between the Class’s total direct annual fund operating expenses, not including excluded expenses, and the Class’s contractual expense limit to recoup all or a portion of its prior fee waivers (other than Class W management fee waivers) or expense reimbursements made during the rolling three-year period (i.e., the three year period following a waiver or reimbursement) preceding the recoupment if at any point the total direct annual fund operating expenses, not including excluded expenses, are below the contractual expense limit (a) at the time of the fee waiver and/or expense reimbursement and (b) at the time of the recoupment.</td> </tr></table> 0.0040 0 0.0016 0.0056 -0.0046 0.0010 Example <p id="xdx_A8A_eoef--ExpenseExampleNarrativeTextBlock_zdN8gxRBrtx1" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The Example below is intended to help you compare the cost of investing in the Series with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Series for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Series’ operating expenses remain the same (taking into account the Advisor’s contractual waivers). Although your actual costs may be higher or lower, based on these assumptions your costs would be: <div id="xdx_A84_eoef--ExpenseExampleWithRedemptionTableTextBlock_zdgbSVjO9gJd"></div> <table id="xdx_A54_dU_zPbOvV0Jxlu2" style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 68.39pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> </tr> <tr style="min-height: 3pt"> <td style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> </td> <td id="xdx_484_eoef--ExpenseExampleYear01_zIGzQ299N3J5" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> AFTER 1 YEAR </td> <td id="xdx_48C_eoef--ExpenseExampleYear03_zQDCQ0t8I1T2" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> AFTER 3 YEARS </td> <td id="xdx_482_eoef--ExpenseExampleYear05_zV1cEHIskv8l" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> AFTER 5 YEARS </td> <td id="xdx_48E_eoef--ExpenseExampleYear10_zNmHC7BAWGI" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> AFTER 10 YEARS </td> </tr> <tr id="xdx_418_20260227__20260227__oef--ClassAxis__custom--C000206442Member_zOUO98bDXqW1" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class W </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt 2pt 16pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $10 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt 2pt 16pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $32 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt 2pt 16pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $56 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt 2pt 13pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $128 </td> </tr> </table> 10 32 56 128 Portfolio Turnover <p id="xdx_A88_eoef--PortfolioTurnoverTextBlock_z9scbx7krVW3" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; -sec-ix-redline: true; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The Series pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Series shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the performance of the Series. During the most recent fiscal year, the portfolio turnover rate of the Series was 48% of the average value of its portfolio. 0.48 Principal Investment Strategies <p id="xdx_A8E_eoef--StrategyNarrativeTextBlock_gRBSNTB-HIKNE_zjpNImrfz2F1" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">In pursuit of the Series’ primary goal, the Advisor seeks to protect capital while generating income and seeking growth opportunities as secondary priorities. The Series invests primarily in fixed income securities, including U.S. Treasury securities and U.S. and foreign mortgage-backed and asset-backed securities and corporate bonds. The Series is not subject to any duration or maturity restrictions and will vary its average dollar weighted portfolio maturity depending on the Advisor’s outlook for yields. The Series invests primarily in investment grade securities, those securities rated BBB- or above by S&P or Baa3 or above by Moody’s (or determined to be of equivalent quality by the Advisor), but may also invest in non-investment grade securities (junk bonds). The Series may also invest in U.S. and foreign stocks, including those in emerging markets, American Depository Receipts (ADRs), and derivative instruments (as described below). The Series may invest in stocks of small-, large-, or mid-size companies. There are no prescribed limits on the sector allocations of the Series’ investments and, from time to time, the Series may focus its investments in one or more sectors.When the Advisor wishes to purchase or sell a security at a specified price, it may seek to generate additional gains for the Series by writing (selling) options on the underlying security, targeting options with premiums that are believed to offer sufficient income to compensate the Series for the risks associated with the option. Options are written only on stocks that the Advisor is planning to buy (in the case of puts) or sell (in the case of calls).In addition, the Series may buy and sell futures contracts based on fixed income securities, interest rates, and currencies, to seek to enhance returns, manage duration, hedge interest rate risk, and reduce volatility. The Advisor may target fixed income futures that are believed to offer the Series the opportunity to more efficiently manage duration and gain exposure to certain markets. The Advisor will consider selling a security if: • it no longer fits the Series’ investment strategies or the Advisor’s investment thesis;• it has reached the Advisor’s target sell price or no longer fits the Advisor’s valuation discipline; or• a more attractive investment opportunity is identified. The words “Conservative Term” in the Series’ name describe the investment horizon of those investors who may want to consider investing in the Series and do not reflect the Series’ maturity restrictions with respect to its investments in fixed income securities. Please see the “More Information About the Series’ Principal Investment Strategies and Principal Risks” section of the prospectus for the historical high and low equity exposures of the Series. You could lose money by investing in the Series. <p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zHUdgxuZ45X5" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Management risk — The value of your investment may decline if the Advisor’s judgments about the attractiveness, relative value or potential appreciation of a particular security or strategy prove to be incorrect. Because a portion of the Series’ portfolio is selected using a systematic process, the Series is subject to the additional risk that the Advisor’s judgments regarding the investment criteria underlying the systematic process may prove to be incorrect. <p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zoZgHjGVgqul" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Market risk — Because the Series invests in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. This means that you could lose money on your investment in the Series or the Series could underperform if any of the following occurs: •U.S. and/or foreign stock or bond markets decline. •An adverse event, such as an unfavorable earnings report, depresses the value of one or more of the Series’ portfolio holdings. •The issuer of a bond owned by the Series defaults on its obligation to pay principal and/or interest or has its credit rating downgraded; this risk is greater for lower-rated investment grade securities and junk bonds. •Interest rates rise, credit spreads widen, and/or repayment spreads widen. These events alone or in combination can cause bond prices to fall and reduce the value of the Series’ portfolio. Longer-term bonds will experience greater fluctuations than shorter-term bonds given their greater sensitivity to interest rate changes. •Market volatility and/or prepayment spreads change to such a degree that prepayment uncertainty/risks are reassessed; the greater the uncertainty/risk, the wider the requisite prepayment spread. •An epidemic, pandemic or natural disaster, or widespread fear that such events may occur, negatively affects the global economy, as well as the economies of individual countries, the financial performance of individual companies and sectors, and the markets in general in significant and unforeseen ways. Any such impact could adversely affect the prices and liquidity of the securities and other instruments in which the Series invests. Current market conditions may pose heightened risks for the Series. Interest rates in the U.S. are coming off historic lows, but recent changes in government policy, have caused interest rates to rise and there is an increased risk that interest rates will continue to rise in the near future. An increase in interest rates may, in turn, increase volatility and reduce liquidity in the fixed income markets, and result in a decline in the value of the fixed income investments held by the Series. In addition, reductions in dealer market-making capacity as a result of structural or regulatory changes could further decrease liquidity and/or increase volatility in the fixed income markets. As a result of these conditions, the Series value may fluctuate and/or the Series may experience increased redemptions from shareholders, which may impact the Series liquidity or force the Series to sell securities into a declining or illiquid market. <p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignSecuritiesRiskMember_zfeY6YE858u7" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Foreign securities risk — Because the Series may invest in securities of foreign issuers, the Series is subject to additional risks. These include risks of adverse changes in foreign economic, political, regulatory and other conditions. The prices of foreign common stocks may, at times, move in a different direction than the prices of U.S. stocks. In addition, investments in emerging market countries may be more volatile than investments in more developed countries. The Series’ investments may be denominated in the currencies of the countries in which they are located; therefore, the value of the Series may be affected by changes in exchange rates between those foreign currencies and the U.S. dollar. In addition, periodic U.S. Government restrictions on investment in issuers from certain foreign countries may require the Series to sell such investments at inopportune times or prevent an investment the Advisor otherwise believes is attractive, each of which could result in losses to the Series. These restrictions may also negatively impact the market for securities of issuers that are similar to those directly impacted by the restrictions resulting in reduced liquidity and price declines in those securities as well. <p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapRiskMember_zBTXhcU4hN4j" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Large-cap risk — Large-cap stocks tend to go in and out of favor based on market and economic conditions. During a period when large-cap stocks fall behind other types of investments — small-cap stocks, for instance — the Series’ performance could be reduced to the extent its portfolio is holding large-cap stocks. <p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallAndMidCapRiskMember_gRBRTB-VVCO_zrOrcl4BxRZ8" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Small- and mid-cap risk — The Series may also have special risks due to its investments in stocks of small- and mid-size companies. These risks include the following: •The stocks of small- and mid-size companies may be subject to more abrupt or erratic market movements than the stocks of larger companies. •The stocks of small- and mid-size companies may be subject to liquidity risk because such stocks may have lower trading volume and be less marketable than the stocks of larger companies. Liquidity risk is further described below. •Small- and mid-size companies may have limited product lines, markets, or financial resources, and they may depend on a small management group. As a result, they fail more often than larger companies. <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--HighYieldSecuritiesRiskMember_zIw5r4EpSMR9" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">High-yield securities risk — The Series is subject to additional risks due to its ability to invest in high-yield securities (junk bonds): •High-yield securities may underperform other sectors of the bond market, or the market as a whole. •The performance of high-yield securities tends to be more volatile than that of other sectors of the bond market. •Given the total size of the high-yield securities market, high-yield securities can be less liquid than investment grade securities. •The Series’ investments in high-yield securities will subject it to a substantial degree of credit risk because the prospect for repayment of principal and interest of many of these bonds is speculative. <p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--RisksOfLowerRatedInvestmentGradeSecuritiesMember_zeAM6gHtPp99" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Risks of lower-rated investment grade securities — Securities with the lowest ratings within the investment grade categories carry more risk than those with the highest ratings. When a Series invests in securities in the lower rating categories, the achievement of its goals is more dependent on the Advisor’s ability than would be the case if the Series were to invest in higher-rated securities within the investment grade categories. The Advisor seeks to minimize this risk through investment analysis and attention to current developments in interest rates and economic conditions. <p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--USGovernmentSecuritiesRiskMember_zd9BvuOThH41" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">U.S. Government securities risk — Although U.S. Government securities are considered to be among the safest investments, they are not guaranteed against price movements due to changing interest rates. Obligations issued by some U.S. Government agencies are backed by the U.S. Treasury, while others are backed solely by the ability of the agency to borrow from the U.S. Treasury or by the agency’s own resources, and, therefore, such obligations are not backed by the full faith and credit of the United States government. <p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--MortgageAndAssetBackedSecuritiesRisksMember_zXckYnftTKj9" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Mortgage- and asset-backed securities risks — The Series’ investments in mortgage-backed and asset-backed securities may subject it to the following additional risks: •Mortgage-backed securities are affected by, among other things, interest rate changes and the possibility of prepayment of the underlying mortgage loans. Mortgage- backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations. •Payment of principal and interest on asset-backed securities is dependent largely on the cash flows generated by the assets backing the securities, and asset-backed securities may not have the benefit of any security interest in the related assets. <p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsAndFuturesRiskMember_zyQL7SfWimbk" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Options and futures risk — The Series is subject to the following risks due to its ability to invest in options and futures: •Options and futures, like all derivatives, can be extremely sensitive to changes in the market value of the underlying investment, and changes in the value of an option or futures contract may not correlate perfectly with the underlying investment. •The Series may not be able to receive amounts payable to it under its options and futures contracts as quickly as it may be able to sell or otherwise obtain payments from other investments, so the Series’ investments in such contracts may not be as liquid as the Series’ other investments. <p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorFocusRiskMember_zyrNTYFTYOt3" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Sector focus risk — Because the Series’ investments may, from time to time, be more heavily invested in a particular sector or sectors, the value of its shares may be especially sensitive to factors and economic risks that specifically affect those sectors. As a result, the Series’ share price may fluctuate more widely than the value of shares of a mutual fund that invests in a broader range of sectors. <p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--LiquidityRiskMember_zYJ4MQ6uRnT3" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Liquidity risk — The Series is subject to the risk that, at certain times, its securities may be difficult or impossible to sell at the time and the price that the Series would like. The Series may have to lower the price, sell other securities instead or forego an investment opportunity, any of which could have a negative effect on the Series’ management or performance. <p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeRedemptionRiskMember_z0noqIfTI2Xd" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Large redemption risk — Certain institutions or individuals may from time to time own (beneficially or of record) or control a significant percentage of the Series’ shares. Redemptions by these institutions or individuals in the Series may impact the Series’ liquidity and net asset value (NAV). These redemptions may also force the Series to sell securities, which may cause the Series to experience a loss (particularly during periods of declining or illiquid markets), as well as cause the Series’ portfolio turnover rate and transaction costs to rise, which may negatively affect the Series’ performance and increase the likelihood of capital gain distributions for remaining shareholders. Summary of Past Performance <p id="xdx_A87_eoef--PerformanceNarrativeTextBlock_zABGneY52Rr5" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; -sec-ix-redline: true; text-transform: none; color: #262626; text-indent: 0pt; text-align: left"><span id="xdx_90C_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260227__20260227__dei--LegalEntityAxis__custom--S000003625Member__dei--DocumentInformationDocumentAxis__custom--ClassWMember_zxbtkxJj65wj">The bar chart and average annual total return table provide some indication of the risks of investing in the Series. The bar chart shows the variability in the performance of the Series by showing changes in the performance of the Class W shares of the Series from year to year. The total return table shows how the average annual total returns for the Series for different periods compare to those of a broad-based securities index and a blended index. The Series’ Class W Shares commenced operation on April 1, 2019, and all returns shown prior to that date include the returns of the Series’ Class S Shares (adjusted to reflect the higher class-related expenses of the class, where applicable). Except for differences in returns resulting from differences in expenses, the classes would have substantially similar returns because each class invests in the same portfolio of securities. The Conservative Term Composite Benchmark 1 is a blend of 15% MSCI USA Investable Market Index, 5% MSCI ACWI ex USA Index, and 80% Bloomberg U.S. Intermediate Aggregate Bond Index. The Conservative Term Composite Benchmark 2 is a blend of 15% MSCI USA Investable Market Index, 5% MSCI ACWI ex USA Index, and 80% Bloomberg U.S. Aggregate Bond Index. The Conservative Term Composite Benchmarks are provided because they better reflect the asset allocation of the Series as compared with the broad-based index. Because the Series’ asset allocation will vary over time, the composition of the Series’ portfolio may not match the composition of the comparative indices’ portfolios. Past performance (both before and after taxes) does not necessarily indicate how the Series will perform in the future. Quarterly updated performance information of the Series is available at www.manning-napier.com. The bar chart and average annual total return table provide some indication of the risks of investing in the Series. Past performance (both before and after taxes) does not necessarily indicate how the Series will perform in the future. www.manning-napier.com CALENDAR YEARS ENDED DECEMBER 31 <div id="xdx_A81_eoef--BarChartTableTextBlock_zaEDcnll5LGk"></div> <table border="0" cellpadding="0" cellspacing="0" id="xdx_A51_zUX1094oDeS8" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse; display: none" summary="xdx: Disclosure - Annual Total Returns"> <tr style="vertical-align: top"> <td style="text-align: left; width: 50%"> </td> <td id="xdx_485_eoef--AnnlRtrPct_dp_hoef--ClassAxis__custom--C000206442Member_zisxsEh4nsy7" style="text-align: left; width: 50%"> </td></tr> <tr id="xdx_416_20160101__20161231_z5H4rlVPHAU7" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2016</td> <td style="text-align: left">4.25%</td></tr> <tr id="xdx_419_20170101__20171231_zX0XJT2s45Ca" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2017</td> <td style="text-align: left">8.92%</td></tr> <tr id="xdx_41E_20180101__20181231_zw8FNVwolWzf" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2018</td> <td style="text-align: left">-2.24%</td></tr> <tr id="xdx_41D_20190101__20191231_z3b4FYYtgmx4" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2019</td> <td style="text-align: left">12.96%</td></tr> <tr id="xdx_410_20200101__20201231_zkVCzUAwvJCc" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2020</td> <td style="text-align: left">11.45%</td></tr> <tr id="xdx_414_20210101__20211231_zYGbwzDf0lDd" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2021</td> <td style="text-align: left">6.11%</td></tr> <tr id="xdx_418_20220101__20221231_zt9qlkEtpE8" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2022</td> <td style="text-align: left">-10.36%</td></tr> <tr id="xdx_41A_20230101__20231231_zJBoiOrO5lN4" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2023</td> <td style="text-align: left">9.36%</td></tr> <tr id="xdx_411_20240101__20241231_ztEUiBe9EWB5" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2024</td> <td style="text-align: left">5.10%</td></tr> <tr id="xdx_416_20250101__20251231_zE1xXwEVio45" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2025</td> <td style="text-align: left">8.69%</td></tr> </table> <div style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left"> <div style="border-width: 0pt; padding: 0pt; overflow: hidden; display: inline-block; width: 313.2pt; height: 203.38pt; text-align: left"> <img alt="" src="classw-proimg003.gif" style="vertical-align: top; margin-left: -10.79pt; width: 324pt; margin-top: 7.19pt; height: 183.6pt"/> </div> </div> 0.0425 0.0892 -0.0224 0.1296 0.1145 0.0611 -0.1036 0.0936 0.0510 0.0869 <p id="xdx_A81_eoef--BarChartClosingTextBlock_zEYNivW4i50b" style="font: 12pt/normal Times New Roman, Times, serif; margin: 4pt 0pt 0pt; text-transform: none; color: #328345; text-indent: 0pt; text-align: left">Quarterly Returns Highest (quarter ended 06/30/2020): 8.55% Lowest (quarter ended 03/31/2020): (5.02)% Highest 2020-06-30 0.0855 Lowest 2020-03-31 -0.0502 <div id="xdx_A89_eoef--PerformanceTableTextBlock_zVVXwRaD6qh6" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-align: left"> <div></div> <table style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 162pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> </tr> <tr style="min-height: 3pt"> <td colspan="4" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> AVERAGE ANNUAL TOTAL RETURNS  FOR PERIODS ENDED DECEMBER 31, 2025 </td> </tr> </table> <div></div> <table id="xdx_A55_dU_z9RWx8nOXtUc" style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 162pt"> </td> <td id="xdx_49D_20250101__20251231_zWhH2Nns9y48" style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> 1 Year </td> <td id="xdx_496_20210101__20251231_za5ghKCHrvw5" style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> 5 Years </td> <td id="xdx_493_20160101__20251231_zDXQ1D0veYre" style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> 10 Years </td> </tr> <tr style="min-height: 14.2pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class W Shares </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> </tr> <tr id="xdx_404_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000206442Member_zzRnFyPuqtcc" style="min-height: 14.2pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 8.69% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 3.51% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 5.27% </td> </tr> <tr id="xdx_400_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000206442Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zibwoEfZSx3f" style="min-height: 14.2pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return After Taxes on Distributions </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 7.08% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 1.95% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 3.64% </td> </tr> <tr id="xdx_40C_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000206442Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zTqMLxquCfqe" style="min-height: 11pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return After Taxes on Distributions and Sale of Series Shares </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 5.20% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 2.11% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 3.55% </td> </tr> <tr style="min-height: 11pt"> <td colspan="4" style="border-width: 0pt; padding: 3pt 6pt; vertical-align: bottom; border-collapse: collapse"> Indices: (reflect no deduction for fees, expenses, or taxes) </td> </tr> <tr id="xdx_40D_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--BloombergUSAggregateBondIndexMember_zwOHtKD0jnef" style="min-height: 11pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Bloomberg U.S. Aggregate Bond Index </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 7.30% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> (0.36)% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 2.01% </td> </tr> <tr id="xdx_407_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--ConservativeTermCompositeBenchmark1Member_z8ziva9dgT39" style="min-height: 11pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Conservative Term Composite Benchmark 11 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 10.06% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 3.32% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 4.95% </td> </tr> <tr id="xdx_406_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--ConservativeTermCompositeBenchmark2Member_zvsDZBvh54o7" style="min-height: 11pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Conservative Term Composite Benchmark 21 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 9.93% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 2.45% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 4.85% </td> </tr> </table> </div> <table cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; color: #262626; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">1</td><td style="width: 5pt"></td><td style="text-align: justify">Returns provided are calculated monthly using a blended allocation, as noted above.</td> </tr></table> AVERAGE ANNUAL TOTAL RETURNS FOR PERIODS ENDED DECEMBER 31, 2025 0.0869 0.0351 0.0527 0.0708 0.0195 0.0364 0.0520 0.0211 0.0355 (reflect no deduction for fees, expenses, or taxes) 0.0730 -0.0036 0.0201 0.1006 0.0332 0.0495 0.0993 0.0245 0.0485 <p id="xdx_A84_eoef--PerformanceTableClosingTextBlock_zjas4NE9tQGi" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. The after-tax figures are shown for one share class only, and would be different for the other share classes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold their Series shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. The after-tax figures are shown for one share class only, and would be different for the other share classes. After-tax returns are not relevant to investors who hold their Series shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Pro-Blend® Moderate Term Series Investment Goal The Series’ investment objective is to provide equal emphasis on long-term growth of capital and preservation of capital. Fees and Expenses This table describes the fees and expenses you may pay if you buy, hold, and sell Class W shares of the Series. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below. <div id="xdx_A87_eoef--ShareholderFeesTableTextBlock_zlNyuqO6ClE9"></div> <table id="xdx_A51_dU_zbf3HQlnbvmg" style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 0pt; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 252pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> </tr> <tr style="min-height: 3pt"> <td style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> CLASS </td> <td style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> W </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_98E_eoef--ShareholderFeesCaption_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--ClassWMember__dei--LegalEntityAxis__custom--S000003636Member_zfiZmkc3k8ha" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Shareholder Fees (fees paid directly from your investment) </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> </tr> </table> Shareholder Fees (fees paid directly from your investment) 0 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) <div id="xdx_A87_eoef--AnnualFundOperatingExpensesTableTextBlock_zRSLv0oG4CO2"></div> <table id="xdx_A56_dU_zi0hwQIQY19a" style="width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_492_20260227__20260227__oef--ClassAxis__custom--C000206451Member_zSUmCd56Tvuc" style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td></tr> <tr id="xdx_40E_eoef--ManagementFeesOverAssets_dpn_zjCeEYD84SC8" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 252pt"> Management Fees </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 61.19pt"> 0.60% </td> </tr> <tr id="xdx_40C_eoef--DistributionAndService12b1FeesOverAssets_dpn_zwSCy1GKCRZ" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Distribution and Service (12b-1) Fees </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> </tr> <tr id="xdx_40C_eoef--OtherExpensesOverAssets_dpn_zMW0wFJ5tg85" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Other Expenses </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.17% </td> </tr> <tr id="xdx_400_eoef--ExpensesOverAssets_dpn_zm81KqTn5p4e" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Total Annual Fund Operating Expenses </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.77% </td> </tr> <tr id="xdx_40B_eoef--FeeWaiverOrReimbursementOverAssets_dpn_zpgOZtjklshi" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Less Fee Waiver and/or Expense Reimbursement1 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> (0.67)% </td> </tr> <tr id="xdx_403_eoef--NetExpensesOverAssets_dpn_zzbVlNtCt5u3" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.10% </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; color: #262626; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">1</td><td style="width: 5pt"></td><td style="text-align: justify">Manning & Napier Advisors, LLC (the Advisor or Manning & Napier) has contractually agreed to waive the management fee for the Class W shares. In addition, the Advisor has contractually agreed to reimburse expenses to the extent necessary so that the total direct annual fund operating expenses, exclusive of Distribution and Service (12b-1) Fees and waived Class W management fees (collectively, “excluded expenses”), do not exceed 0.10% of the average daily net assets of the Class W shares. These contractual waivers will continue indefinitely, and may only be amended or terminated with the approval of the Series’ Board of Directors. The Advisor’s agreement to limit Class W’s operating expenses is limited to direct operating expenses and, therefore, does not apply to acquired fund fees and expenses, which are indirect expenses incurred by the Series through its investments in other investment companies. The Advisor may receive from a Class the difference between the Class’s total direct annual fund operating expenses, not including excluded expenses, and the Class’s contractual expense limit to recoup all or a portion of its prior fee waivers (other than Class W management fee waivers) or expense reimbursements made during the rolling three-year period (i.e., the three year period following a waiver or reimbursement) preceding the recoupment if at any point the total direct annual fund operating expenses, not including excluded expenses, are below the contractual expense limit (a) at the time of the fee waiver and/or expense reimbursement and (b) at the time of the recoupment.</td> </tr></table> 0.0060 0 0.0017 0.0077 -0.0067 0.0010 Example <p id="xdx_A8C_eoef--ExpenseExampleNarrativeTextBlock_z3hUDxYxBzGf" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The Example below is intended to help you compare the cost of investing in the Series with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Series for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Series’ operating expenses remain the same (taking into account the Advisor’s contractual waivers). Although your actual costs may be higher or lower, based on these assumptions your costs would be: <div id="xdx_A8E_eoef--ExpenseExampleWithRedemptionTableTextBlock_zHBgG9aYUjvh"></div> <table id="xdx_A5F_dU_zUzNTthqkfS3" style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 68.39pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> </tr> <tr style="min-height: 3pt"> <td style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> </td> <td id="xdx_48A_eoef--ExpenseExampleYear01_zL0uhGKaV07" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse">AFTER 1 YEAR </td> <td id="xdx_48C_eoef--ExpenseExampleYear03_zlcvHYg8jPLh" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse">AFTER 3 YEARS </td> <td id="xdx_487_eoef--ExpenseExampleYear05_zRJUjQc1EVne" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse">AFTER 5 YEARS </td> <td id="xdx_486_eoef--ExpenseExampleYear10_zads16ZaFeL4" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse">AFTER 10 YEARS </td> </tr> <tr id="xdx_418_20260227__20260227__oef--ClassAxis__custom--C000206451Member_zSlghi12FlW3" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">Class W </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt 2pt 16pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$10 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt 2pt 16pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$32 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt 2pt 16pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$56 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt 2pt 13pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">$128 </td> </tr> </table> 10 32 56 128 Portfolio Turnover The Series pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Series shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the performance of the Series. During the most recent fiscal year, the portfolio turnover rate of the Series was 70% of the average value of its portfolio. 0.70 Principal Investment Strategies <p id="xdx_A85_eoef--StrategyNarrativeTextBlock_gRBSNTB-LRSY_zN5fLCaM2i1k" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The Advisor seeks to balance conflicting goals of growth of capital and preservation of capital in order to generate a more stable rate of return for this portfolio relative to an investment in the general stock market. The Series invests primarily in common stocks and intermediate to long-term fixed income securities. The Series may invest in U.S. and foreign stocks, including those in emerging markets, American Depository Receipts (ADRs), and derivative instruments (as described below). The Series may invest in stocks of small-, large-, or mid-size companies. In the fixed income portion of the portfolio, the Series invests primarily in U.S. Treasury securities, and U.S. and foreign mortgage-backed and asset-backed securities and corporate bonds. The Series is not subject to any duration or maturity restrictions and will vary its average dollar weighted portfolio maturity depending on the Advisor’s outlook for yields. The Series invests primarily in investment grade securities, those securities rated BBB- or above by S&P or Baa3 or above by Moody’s (or determined to be of equivalent quality by the Advisor), but may also invest in non-investment grade securities (junk bonds). There are no prescribed limits on the sector allocations of the Series’ investments and, from time to time, the Series may focus its investments in one or more sectors. When the Advisor wishes to purchase or sell a security at a specified price, it may seek to generate additional gains for the Series by writing (selling) options on the underlying security, targeting options with premiums that are believed to offer sufficient income to compensate the Series for the risks associated with the option. Options are written only on stocks that the Advisor is planning to buy (in the case of puts) or sell (in the case of calls). In addition, the Series may buy and sell futures contracts based on fixed income securities, interest rates, and currencies, to seek to enhance returns, manage duration, hedge interest rate risk, and reduce volatility. The Advisor may target fixed income futures that are believed to offer the Series the opportunity to more efficiently manage duration and gain exposure to certain markets. The Advisor will consider selling a security if: <table cellpadding="0" cellspacing="0" style="font: 9pt/normal Arial, sans-serif; color: #262626; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.15in"></td><td style="width: 0.15in; text-align: left">•</td><td style="text-align: justify">it no longer fits the Series’ investment strategies or the Advisor’s investment thesis;</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 9pt/normal Arial, sans-serif; color: #262626; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.15in"></td><td style="width: 0.15in; text-align: left">•</td><td style="text-align: justify"> it has reached the Advisor’s target sell price or no longer fits the Advisor’s valuation discipline; or</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 9pt/normal Arial, sans-serif; color: #262626; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.15in"></td><td style="width: 0.15in; text-align: left">•</td><td style="text-align: justify"> a more attractive investment opportunity is identified.</td> </tr></table> The words “Moderate Term” in the Series’ name describe the investment horizon of those investors who may want to consider investing in the Series and do not reflect the Series’ maturity restrictions with respect to its investments in fixed income securities. Please see the “More Information About the Series’ Principal Investment Strategies and Principal Risks” section of the prospectus for the historical high and low equity exposures of the Series. You could lose money by investing in the Series. <p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zPaviSUYdElg" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Management risk — The value of your investment may decline if the Advisor’s judgments about the attractiveness, relative value or potential appreciation of a particular security or strategy prove to be incorrect. <p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_gRBRTB-KDGN_zOQFoxv7CtM1" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Market risk — Because the Series invests in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. This means that you could lose money on your investment in the Series or the Series could underperform if any of the following occurs: •U.S. and/or foreign stock or bond markets decline. •An adverse event, such as an unfavorable earnings report, depresses the value of one or more of the Series’ portfolio holdings. •The issuer of a bond owned by the Series defaults on its obligation to pay principal and/or interest or has its credit rating downgraded; this risk is greater for lower-rated investment grade securities and junk bonds. •Interest rates rise, credit spreads widen, and/or repayment spreads widen. These events alone or in combination can cause bond prices to fall and reduce the value of the Series’ portfolio. Longer-term bonds will experience greater fluctuations than shorter-term bonds given their greater sensitivity to interest rate changes. •Market volatility and/or prepayment spreads change to such a degree that prepayment uncertainty/risks are reassessed; the greater the uncertainty/risk, the wider the requisite prepayment spread. •An epidemic, pandemic or natural disaster, or widespread fear that such events may occur, negatively affects the global economy, as well as the economies of individual countries, the financial performance of individual companies and sectors, and the markets in general in significant and unforeseen ways. Any such impact could adversely affect the prices and liquidity of the securities and other instruments in which the Series invests. Current market conditions may pose heightened risks for the Series. Interest rates in the U.S. are coming off historic lows, but recent changes in government policy have caused interest rates to rise and there is an increased risk that interest rates will continue to rise in the near future. An increase in interest rates may, in turn, increase volatility and reduce liquidity in the fixed income markets, and result in a decline in the value of the fixed income investments held by the Series. In addition, reductions in dealer market-making capacity as a result of structural or regulatory changes could further decrease liquidity and/or increase volatility in the fixed income markets. As a result of these conditions, the Series’ value may fluctuate and/or the Series may experience increased redemptions from shareholders, which may impact the Series’ liquidity or force the Series to sell securities into a declining or illiquid market. <p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignSecuritiesRiskMember_zz0Up1Ktnop2" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Foreign securities risk — Because the Series may invest in securities of foreign issuers, the Series is subject to additional risks. These include risks of adverse changes in foreign economic, political, regulatory and other conditions. The prices of foreign common stocks may, at times, move in a different direction than the prices of U.S. stocks. In addition, investments in emerging market countries may be more volatile than investments in more developed countries. The Series’ investments may be denominated in the currencies of the countries in which they are located; therefore, the value of the Series may be affected by changes in exchange rates between those foreign currencies and the U.S. dollar. In addition, periodic U.S. Government restrictions on investments in issuers from certain foreign countries may require the Series to sell such investments at inopportune times or prevent an investment the Advisor otherwise believes is attractive, each of which could result in losses to the Series. These restrictions may also negatively impact the market for securities of issuers that are similar to those directly impacted by the restrictions resulting in reduced liquidity and price declines in those securities as well. <p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapRiskMember_zevHS3HonoTd" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Large-cap risk — Large-cap stocks tend to go in and out of favor based on market and economic conditions. During a period when large-cap stocks fall behind other types of investments — small-cap stocks, for instance — the Series’ performance could be reduced to the extent its portfolio is holding large-cap stocks. <p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallAndMidCapRiskMember_gRBRTB-VGH_zlhkIHE0rsr6" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Small- and mid-cap risk — The Series may also have special risks due to its investments in stocks of small- and mid-size companies. These risks include the following: •The stocks of small- and mid-size companies may be subject to more abrupt or erratic market movements than the stocks of larger companies. •The stocks of small- and mid-size companies may be subject to liquidity risk because such stocks may have lower trading volume and be less marketable than the stocks of larger companies. Liquidity risk is further described below. •Small- and mid-size companies may have limited product lines, markets, or financial resources, and they may depend on a small management group. As a result, they fail more often than larger companies. <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--HighYieldSecuritiesRiskMember_zCYaBrGkxJFj" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">High-yield securities risk — The Series is subject to additional risks due to its ability to invest in high-yield securities (junk bonds): •High-yield securities may underperform other sectors of the bond market, or the market as a whole. •The performance of high-yield securities tends to be more volatile than that of other sectors of the bond market. •Given the total size of the high-yield securities market, high-yield securities can be less liquid than investment grade securities. •The Series’ investments in high-yield securities will subject it to a substantial degree of credit risk because the prospect for repayment of principal and interest of many of these bonds is speculative. <p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--RisksOfLowerRatedInvestmentGradeSecuritiesMember_zu0b4sRPhcri" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Risks of lower-rated investment grade securities — Securities with the lowest ratings within the investment grade categories carry more risk than those with the highest ratings. When a Series invests in securities in the lower rating categories, the achievement of its goals is more dependent on the Advisor’s ability than would be the case if the Series were to invest in higher-rated securities within the investment grade categories. The Advisor seeks to minimize this risk through investment analysis and attention to current developments in interest rates and economic conditions. <p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--USGovernmentSecuritiesRiskMember_zO2zW9U8vBDi" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">U.S. Government securities risk — Although U.S. Government securities are considered to be among the safest investments, they are not guaranteed against price movements due to changing interest rates. Obligations issued by some U.S. Government agencies are backed by the U.S. Treasury, while others are backed solely by the ability of the agency to borrow from the U.S. Treasury or by the agency’s own resources, and, therefore, such obligations are not backed by the full faith and credit of the United States government. <p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--MortgageAndAssetBackedSecuritiesRisksMember_gRBRTB-VRXBZ_zOKL5AexY2Lc" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Mortgage- and asset-backed securities risks — The Series’ investments in mortgage-backed and asset-backed securities may subject it to the following additional risks: •Mortgage-backed securities are affected by, among other things, interest rate changes and the possibility of prepayment of the underlying mortgage loans. Mortgage-backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations. •Payment of principal and interest on asset-backed securities is dependent largely on the cash flows generated by the assets backing the securities, and asset-backed securities may not have the benefit of any security interest in the related assets. <p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsAndFuturesRiskMember_zirF2RyQh8ga" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Options and futures risk — The Series is subject to the following risks due to its ability to invest in options and futures: •Options and futures, like all derivatives, can be extremely sensitive to changes in the market value of the underlying investment, and changes in the value of an option or futures contract may not correlate perfectly with the underlying investment. •The Series may not be able to receive amounts payable to it under its options and futures contracts as quickly as it may be able to sell or otherwise obtain payments from other investments, so the Series’ investments in such contracts may not be as liquid as the Series’ other investments. <p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorFocusRiskMember_zxt2Bb6zQ4c3" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Sector focus risk — Because the Series’ investments may, from time to time, be more heavily invested in a particular sector or sectors, the value of its shares may be especially sensitive to factors and economic risks that specifically affect those sectors. As a result, the Series’ share price may fluctuate more widely than the value of shares of a mutual fund that invests in a broader range of sectors. <p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--LiquidityRiskMember_ziG3PWgGrkab" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Liquidity risk — The Series is subject to the risk that, at certain times, its securities may be difficult or impossible to sell at the time and the price that the Series would like. The Series may have to lower the price, sell other securities instead or forego an investment opportunity, any of which could have a negative effect on the Series’ management or performance. <p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeRedemptionRiskMember_zlxoy3OISfQ2" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Large redemption risk — Certain institutions or individuals may from time to time own (beneficially or of record) or control a significant percentage of the Series’ shares. Redemptions by these institutions or individuals in the Series may impact the Series’ liquidity and net asset value (NAV). These redemptions may also force the Series to sell securities, which may cause the Series to experience a loss (particularly during periods of declining or illiquid markets), as well as cause the Series’ portfolio turnover rate and transaction costs to rise, which may negatively affect the Series’ performance and increase the likelihood of capital gain distributions for remaining shareholders. Summary of Past Performance <span id="xdx_903_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260227__20260227__dei--LegalEntityAxis__custom--S000003636Member__dei--DocumentInformationDocumentAxis__custom--ClassWMember_zJNIy64I1vvb">The bar chart and average annual total return table provide some indication of the risks of investing in the Series. The bar chart shows the variability in the performance of the Series by showing changes in the performance of the Class W shares of the Series from year to year. The total return table shows how the average annual total returns for the Series for different periods compare to those of a broad-based securities index and a blended index. The Series’ Class W Shares commenced operation on April 1, 2019, and all returns shown prior to that date include the returns of the Series’ Class S Shares (adjusted to reflect the higher class-related expenses of the class, where applicable). Except for differences in returns resulting from differences in expenses, the classes would have substantially similar returns because each class invests in the same portfolio of securities. The 30/10/30/30 Blended Index is a blend of 30% MSCI USA Investable Market Index, 10% MSCI ACWI ex USA Index, 30% Bloomberg U.S. Aggregate Bond Index, and 30% Bloomberg U.S. Intermediate Aggregate Bond Index. The 30/10/60 Blended Index is a blend of 30% MSCI USA Investable Market Index, 10% MSCI ACWI ex USA Index, 60% Bloomberg U.S. Aggregate Bond Index. The Blended Indices are provided because they better reflect the asset allocation of the Series as compared with the broad-based index. Because the Series’ asset allocation will vary over time, the composition of the Series’ portfolio may not match the composition of the comparative indices’ portfolios. Past performance (both before and after taxes) does not necessarily indicate how the Series will perform in the future. Quarterly updated performance information of the Series is available at www.manning-napier.com. The bar chart and average annual total return table provide some indication of the risks of investing in the Series. Past performance (both before and after taxes) does not necessarily indicate how the Series will perform in the future. www.manning-napier.com CALENDAR YEARS ENDED DECEMBER 31 <div id="xdx_A82_eoef--BarChartTableTextBlock_z0vsaE25uzLh"></div> <table border="0" cellpadding="0" cellspacing="0" id="xdx_A55_zxSfXYY4pTWk" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse; display: none" summary="xdx: Disclosure - Annual Total Returns"> <tr style="vertical-align: top"> <td style="text-align: left; width: 50%"> </td> <td id="xdx_485_eoef--AnnlRtrPct_dp_hoef--ClassAxis__custom--C000206451Member_zls5wg7lMzre" style="text-align: left; width: 50%"> </td></tr> <tr id="xdx_416_20160101__20161231_z0O75e7KGh8a" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2016</td> <td style="text-align: left">3.19%</td></tr> <tr id="xdx_419_20170101__20171231_zZFuOFvNIxE6" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2017</td> <td style="text-align: left">11.57%</td></tr> <tr id="xdx_41E_20180101__20181231_z4Tnf07L0Gq3" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2018</td> <td style="text-align: left">-3.51%</td></tr> <tr id="xdx_41D_20190101__20191231_zuPVoLnhP1yc" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2019</td> <td style="text-align: left">16.14%</td></tr> <tr id="xdx_410_20200101__20201231_z4bLYsJjWJHj" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2020</td> <td style="text-align: left">16.01%</td></tr> <tr id="xdx_414_20210101__20211231_zQkAV0HocwC5" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2021</td> <td style="text-align: left">9.08%</td></tr> <tr id="xdx_418_20220101__20221231_zrXBc85aEtYi" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2022</td> <td style="text-align: left">-13.69%</td></tr> <tr id="xdx_41A_20230101__20231231_zbRK2SIy9KSf" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2023</td> <td style="text-align: left">12.21%</td></tr> <tr id="xdx_411_20240101__20241231_zoULxk4konKd" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2024</td> <td style="text-align: left">7.06%</td></tr> <tr id="xdx_416_20250101__20251231_zywJhNH3on4" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2025</td> <td style="text-align: left">10.29%</td></tr> </table> <div style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left"> <div style="border-width: 0pt; padding: 0pt; overflow: hidden; display: inline-block; width: 313.2pt; height: 193.44pt; text-align: left"> <img alt="" src="classw-proimg004.gif" style="vertical-align: top; margin-left: 6pt; width: 297.59pt; margin-top: 0pt; height: 190.79pt"/> </div> </div> 0.0319 0.1157 -0.0351 0.1614 0.1601 0.0908 -0.1369 0.1221 0.0706 0.1029 <p id="xdx_A81_eoef--BarChartClosingTextBlock_zMTpaDAgSrKb" style="font: 12pt/normal Times New Roman, Times, serif; margin: 4pt 0pt 0pt; text-transform: none; color: #328345; text-indent: 0pt; text-align: left">Quarterly Returns Highest (quarter ended 06/30/2020): 11.14% Lowest (quarter ended 06/30/2022): (7.50)% Highest 2020-06-30 0.1114 Lowest 2022-06-30 -0.0750 <div id="xdx_A83_eoef--PerformanceTableTextBlock_z4U7Q2CdKmq8"></div> <table style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 162pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> </tr> <tr style="min-height: 3pt"> <td colspan="4" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> AVERAGE ANNUAL TOTAL RETURNS FOR PERIODS ENDED DECEMBER 31, 2025 </td> </tr> </table> <div></div> <table id="xdx_A51_dU_z8JvjDTVKrvc" style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 162pt"> </td> <td id="xdx_49D_20250101__20251231_zjy65FAg4LDi" style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> 1 Year </td> <td id="xdx_49F_20210101__20251231_zff4IBp7FC3a" style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> 5 Years </td> <td id="xdx_494_20160101__20251231_zWYIwkgiAXek" style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> 10 Years </td> </tr> <tr style="min-height: 14.2pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class W Shares </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> </tr> <tr id="xdx_404_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000206451Member_zWFshhPF5Tde" style="min-height: 14.2pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">10.29% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">4.52% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">6.51% </td> </tr> <tr id="xdx_400_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000206451Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zMQQS8Sv1dt7" style="min-height: 14.2pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return After Taxes on Distributions </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">8.48% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">2.97% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">4.95% </td> </tr> <tr id="xdx_40C_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000206451Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zFDksS2eKjUd" style="min-height: 11pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return After Taxes on Distributions and Sale of Series Shares </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">6.84% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">3.02% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">4.68% </td> </tr> <tr style="min-height: 11pt"> <td colspan="4" style="border-width: 0pt; padding: 3pt 6pt; vertical-align: bottom; border-collapse: collapse"> Indices: (reflect no deduction for fees, expenses, or taxes) </td> </tr> <tr id="xdx_40D_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--BloombergUSAggregateBondIndexMember_zYLw5KBZROMd" style="min-height: 11pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Bloomberg U.S. Aggregate Bond Index </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">7.30% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">(0.36)% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">2.01% </td> </tr> <tr id="xdx_408_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--BlendedIndex30103030Member_zq5lhvF4vNgc" style="min-height: 11pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 30/10/30/30 Blended Index1 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">12.63% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">4.79% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">6.36% </td> </tr> <tr id="xdx_407_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--BlendedIndex301060Member_zIioRy5YqO82" style="min-height: 11pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 30/10/60 Blended Index1 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">12.58% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">4.45% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">6.34% </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; color: #262626; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">1</td><td style="width: 5pt"></td><td style="text-align: justify">Returns provided are calculated monthly using a blended allocation, as noted above.</td> </tr></table> AVERAGE ANNUAL TOTAL RETURNSFOR PERIODS ENDED DECEMBER 31, 2025 0.1029 0.0452 0.0651 0.0848 0.0297 0.0495 0.0684 0.0302 0.0468 (reflect no deduction for fees, expenses, or taxes) 0.0730 -0.0036 0.0201 0.1263 0.0479 0.0636 0.1258 0.0445 0.0634 <p id="xdx_A84_eoef--PerformanceTableClosingTextBlock_zHWlXxNLRzNh" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. The after-tax returns are shown for one share class only, and would be different for the other share classes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold their Series shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. The after-tax returns are shown for one share class only, and would be different for the other share classes. After-tax returns are not relevant to investors who hold their Series shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Pro-Blend® Extended Term Series Investment Goal The Series’ primary objective is to provide long-term growth of capital and its secondary objective is to provide preservation of capital. Fees and Expenses This table describes the fees and expenses you may pay if you buy, hold, and sell Class W shares of the Series. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below. <div id="xdx_A8F_eoef--ShareholderFeesTableTextBlock_zZxONvwP3R2a"></div> <table id="xdx_A57_dU_z3VoLuKzdLI" style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 0pt; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 252pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> </tr> <tr style="min-height: 3pt"> <td style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> CLASS </td> <td style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> W </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_980_eoef--ShareholderFeesCaption_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--ClassWMember__dei--LegalEntityAxis__custom--S000003639Member_z8NpJ9MCDPZ8" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Shareholder Fees (fees paid directly from your investment) </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> </tr> </table> Shareholder Fees (fees paid directly from your investment) 0 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) <div id="xdx_A88_eoef--AnnualFundOperatingExpensesTableTextBlock_z0ICBWZ6zPr4"></div> <table id="xdx_A51_dU_z9bUg89Y3Kaa" style="width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_492_20260227__20260227__oef--ClassAxis__custom--C000206456Member_zeNyhq0oJeP1" style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td></tr> <tr id="xdx_40E_eoef--ManagementFeesOverAssets_dpn_zd9QqeLYP7Vb" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 252pt"> Management Fees </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 61.19pt"> 0.60% </td> </tr> <tr id="xdx_40C_eoef--DistributionAndService12b1FeesOverAssets_dpn_zEHJTcsKhnZ4" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Distribution and Service (12b-1) Fees </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> </tr> <tr id="xdx_40C_eoef--OtherExpensesOverAssets_dpn_zYYYjb51hJPg" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Other Expenses </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.15% </td> </tr> <tr id="xdx_400_eoef--ExpensesOverAssets_dpn_zCy4NRndcpPg" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Total Annual Fund Operating Expenses </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">0.75% </td> </tr> <tr id="xdx_40B_eoef--FeeWaiverOrReimbursementOverAssets_dpn_z36sRRPVBU95" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Less Fee Waiver and/or Expense Reimbursement1 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">(0.65)% </td> </tr> <tr id="xdx_403_eoef--NetExpensesOverAssets_dpn_zKnLMZEVHYUa" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.10% </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; color: #262626; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">1</td><td style="width: 5pt"></td><td style="text-align: justify">Manning & Napier Advisors, LLC (the Advisor or Manning & Napier) has contractually agreed to waive the management fee for the Class W shares. In addition, the Advisor has contractually agreed to reimburse expenses to the extent necessary so that the total direct annual fund operating expenses, exclusive of Distribution and Service (12b-1) Fees and waived Class W management fees (collectively, “excluded expenses”), do not exceed 0.10% of the average daily net assets of the Class W shares. These contractual waivers will continue indefinitely, and may only be amended or terminated with the approval of the Series’ Board of Directors. The Advisor’s agreement to limit Class W’s operating expenses is limited to direct operating expenses and, therefore, does not apply to acquired fund fees and expenses, which are indirect expenses incurred by the Series through its investments in other investment companies. The Advisor may receive from a Class the difference between the Class’s total direct annual fund operating expenses, not including excluded expenses, and the Class’s contractual expense limit to recoup all or a portion of its prior fee waivers (other than Class W management fee waivers) or expense reimbursements made during the rolling three-year period (i.e., the three year period following a waiver or reimbursement) preceding the recoupment if at any point the total direct annual fund operating expenses, not including excluded expenses, are below the contractual expense limit (a) at the time of the fee waiver and/or expense reimbursement and (b) at the time of the recoupment.</td> </tr></table> 0.0060 0 0.0015 0.0075 -0.0065 0.0010 Example <p id="xdx_A85_eoef--ExpenseExampleNarrativeTextBlock_gRBEENTB-ZSVJ_zSAb9X6bcW8k" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The Example below is intended to help you compare the cost of investing in the Series with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Series for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Series’ operating expenses remain the same (taking into account the Advisor’s contractual waivers). Although your actual costs may be higher or lower, based on these assumptions your costs would be: <div id="xdx_A8F_eoef--ExpenseExampleWithRedemptionTableTextBlock_zZQBRmFYPRSg"></div> <table id="xdx_A59_dU_zWGEhrAHsE5g" style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 68.39pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> </tr> <tr style="min-height: 3pt"> <td style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> </td> <td id="xdx_484_eoef--ExpenseExampleYear01_z9ELy0jrR8qg" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> AFTER 1 YEAR </td> <td id="xdx_48C_eoef--ExpenseExampleYear03_zKQ2Sp7l1c06" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> AFTER 3 YEARS </td> <td id="xdx_488_eoef--ExpenseExampleYear05_zFSqv1wlNzsk" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> AFTER 5 YEARS </td> <td id="xdx_485_eoef--ExpenseExampleYear10_zgIT7ZPpGYH8" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> AFTER 10 YEARS </td> </tr> <tr id="xdx_418_20260227__20260227__oef--ClassAxis__custom--C000206456Member_zJpasBdxsgpd" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class W </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt 2pt 16pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $10 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt 2pt 16pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $32 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt 2pt 16pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $56 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt 2pt 13pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $128 </td> </tr> </table> 10 32 56 128 Portfolio Turnover The Series pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Series shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the performance of the Series. During the most recent fiscal year, the portfolio turnover rate of the Series was 78% of the average value of its portfolio. 0.78 Principal Investment Strategies <p id="xdx_A8B_eoef--StrategyNarrativeTextBlock_gRBSNTB-SL_zdOmgMp1qG0a" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">By focusing on growth of capital and to a lesser extent on preservation of capital, the Advisor seeks to participate, over the long term, in the growth of the stock market, but with less volatility than is typically associated with an investment in the general stock market. The Series invests primarily in common stocks and long-term fixed income securities. The Series may invest in U.S. and foreign stocks, including those in emerging markets, American Depository Receipts (ADRs), and derivative instruments (as described below). The Series may invest in stocks of small-, large-, or mid-size companies. In the fixed income portion of the portfolio, the Series invests primarily in U.S. Treasury securities, and U.S. and foreign mortgage-backed and asset-backed securities and corporate bonds. The Series is not subject to any duration or maturity restrictions and will vary its average dollar weighted portfolio maturity depending on the Advisor’s outlook for yields. The Series invests primarily in investment grade securities, those securities rated BBB- or above by S&P or Baa3 or above by Moody’s (or determined to be of equivalent quality by the Advisor), but may also invest in non-investment grade securities (junk bonds). There are no prescribed limits on the sector allocations of the Series’ investments and, from time to time, the Series may focus its investments in one or more sectors. When the Advisor wishes to purchase or sell a security at a specified price, it may seek to generate additional gains for the Series by writing (selling) options on the underlying security, targeting options with premiums that are believed to offer sufficient income to compensate the Series for the risks associated with the option. Options are written only on stocks that the Advisor is planning to buy (in the case of puts) or sell (in the case of calls). In addition, the Series may buy and sell futures contracts based on fixed income securities, interest rates, and currencies, to seek to enhance returns, manage duration, hedge interest rate risk, and reduce volatility. The Advisor may target fixed income futures that are believed to offer the Series the opportunity to more efficiently manage duration and gain exposure to certain markets. The Advisor will consider selling a security if: <table cellpadding="0" cellspacing="0" style="font: 9pt/normal Arial, sans-serif; color: #262626; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.15in"></td><td style="width: 0.15in; text-align: left">•</td><td style="text-align: justify">it no longer fits the Series’ investment strategies or the Advisor’s investment thesis;</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 9pt/normal Arial, sans-serif; color: #262626; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.15in"></td><td style="width: 0.15in; text-align: left">•</td><td style="text-align: justify"> it has reached the Advisor’s target sell price or no longer fits the Advisor’s valuation discipline; or</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 9pt/normal Arial, sans-serif; color: #262626; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.15in"></td><td style="width: 0.15in; text-align: left">•</td><td style="text-align: justify"> a more attractive investment opportunity is identified.</td> </tr></table> The words “Extended Term” in the Series’ name describe the investment horizon of those investors who may want to consider investing in the Series and do not reflect the Series’ maturity restrictions with respect to its investments in fixed income securities. Please see the “More Information About the Series’ Principal Investment Strategies and Principal Risks” section of the prospectus for the historical high and low equity exposures of the Series. You could lose money by investing in the Series. <p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zMuIneWY0u2b" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Management risk — The value of your investment may decline if the Advisor’s judgments about the attractiveness, relative value or potential appreciation of a particular security or strategy prove to be incorrect. <p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_gRBRTB-ONH_z9ZbmgbaYdKc" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Market risk — Because the Series invests in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. This means that you could lose money on your investment in the Series or the Series could underperform if any of the following occurs: •U.S. and/or foreign stock or bond markets decline. •An adverse event, such as an unfavorable earnings report, depresses the value of one or more of the Series’ portfolio holdings. •The issuer of a bond owned by the Series defaults on its obligation to pay principal and/or interest or has its credit rating downgraded; this risk is greater for lower-rated investment grade securities and junk bonds. •Interest rates rise, credit spreads widen, and/or repayment spreads widen. These events alone or in combination can cause bond prices to fall and reduce the value of the Series’ portfolio. Longer-term bonds will experience greater fluctuations than shorter-term bonds given their greater sensitivity to interest rate changes. •Market volatility and/or prepayment spreads change to such a degree that prepayment uncertainty/risks are reassessed; the greater the uncertainty/risk, the wider the requisite prepayment spread. •An epidemic, pandemic or natural disaster, or widespread fear that such events may occur, negatively affects the global economy, as well as the economies of individual countries, the financial performance of individual companies and sectors, and the markets in general in significant and unforeseen ways. Any such impact could adversely affect the prices and liquidity of the securities and other instruments in which the Series invests. Current market conditions may pose heightened risks for the Series. Interest rates in the U.S. are coming off historic lows, but recent changes in government policy have caused interest rates to rise and there is an increased risk that interest rates will continue to rise in the near future. An increase in interest rates may, in turn, increase volatility and reduce liquidity in the fixed income markets, and result in a decline in the value of the fixed income investments held by the Series. In addition, reductions in dealer market-making capacity as a result of structural or regulatory changes could further decrease liquidity and/or increase volatility in the fixed income markets. As a result of these conditions, the Series’ value may fluctuate and/or the Series may experience increased redemptions from shareholders, which may impact the Series’ liquidity or force the Series to sell securities into a declining or illiquid market. <p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignSecuritiesRiskMember_zTUT84IbVk35" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Foreign securities risk — Because the Series may invest in securities of foreign issuers, the Series is subject to additional risks. These include risks of adverse changes in foreign economic, political, regulatory and other conditions. The prices of foreign common stocks may, at times, move in a different direction than the prices of U.S. stocks. In addition, investments in emerging market countries may be more volatile than investments in more developed countries. The Series’ investments may be denominated in the currencies of the countries in which they are located; therefore, the value of the Series may be affected by changes in exchange rates between those foreign currencies and the U.S. dollar. In addition, periodic U.S. Government restrictions on investments in issuers from certain foreign countries may require the Series to sell such investments at inopportune times or prevent an investment the Advisor otherwise believes is attractive, each of which could result in losses to the Series. These restrictions may also negatively impact the market for securities of issuers that are similar to those directly impacted by the restrictions resulting in reduced liquidity and price declines in those securities as well. <p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapRiskMember_zrB3MKVJTdEk" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Large-cap risk — Large-cap stocks tend to go in and out of favor based on market and economic conditions. During a period when large-cap stocks fall behind other types of investments — small-cap stocks, for instance — the Series’ performance could be reduced to the extent its portfolio is holding large-cap stocks. <p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallAndMidCapRiskMember_gRBRTB-EKB_zE2WSqU23mPe" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Small- and mid-cap risk — The Series may also have special risks due to its investments in stocks of small- and mid-size companies. These risks include the following: •The stocks of small- and mid-size companies may be subject to more abrupt or erratic market movements than the stocks of larger companies. •The stocks of small- and mid-size companies may be subject to liquidity risk because such stocks may have lower trading volume and be less marketable than the stocks of larger companies. Liquidity risk is further described below. •Small- and mid-size companies may have limited product lines, markets, or financial resources, and they may depend on a small management group. As a result, they fail more often than larger companies. <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--HighYieldSecuritiesRiskMember_zNatL5AFD7I" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">High-yield securities risk — The Series is subject to additional risks due to its ability to invest in high-yield securities (junk bonds): •High-yield securities may underperform other sectors of the bond market, or the market as a whole. •The performance of high-yield securities tends to be more volatile than that of other sectors of the bond market. •Given the total size of the high-yield securities market, high-yield securities can be less liquid than investment grade securities. •The Series’ investments in high-yield securities will subject it to a substantial degree of credit risk because the prospect for repayment of principal and interest of many of these bonds is speculative. <p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--RisksOfLowerRatedInvestmentGradeSecuritiesMember_zNMEMF36PFW2" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Risks of lower-rated investment grade securities — Securities with the lowest ratings within the investment grade categories carry more risk than those with the highest ratings. When a Series invests in securities in the lower rating categories, the achievement of its goals is more dependent on the Advisor’s ability than would be the case if the Series were to invest in higher-rated securities within the investment grade categories. The Advisor seeks to minimize this risk through investment analysis and attention to current developments in interest rates and economic conditions. <p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--USGovernmentSecuritiesRiskMember_zI1tjSxC5Xw5" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">U.S. Government securities risk — Although U.S. Government securities are considered to be among the safest investments, they are not guaranteed against price movements due to changing interest rates. Obligations issued by some U.S. Government agencies are backed by the U.S. Treasury, while others are backed solely by the ability of the agency to borrow from the U.S. Treasury or by the agency’s own resources, and, therefore, such obligations are not backed by the full faith and credit of the United States government. <p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--MortgageAndAssetBackedSecuritiesRisksMember_gRBRTB-CVZY_zZW4HGnaJIrk" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Mortgage- and asset-backed securities risks — The Series’ investments in mortgage-backed and asset-backed securities may subject it to the following additional risks: •Mortgage-backed securities are affected by, among other things, interest rate changes and the possibility of prepayment of the underlying mortgage loans. Mortgage-backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations. •Payment of principal and interest on asset-backed securities is dependent largely on the cash flows generated by the assets backing the securities, and asset-backed securities may not have the benefit of any security interest in the related assets. <p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsAndFuturesRiskMember_z1Rp6G49lC5f" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Options and futures risk — The Series is subject to the following risks due to its ability to invest in options and futures: •Options and futures, like all derivatives, can be extremely sensitive to changes in the market value of the underlying investment, and changes in the value of an option or futures contract may not correlate perfectly with the underlying investment. •The Series may not be able to receive amounts payable to it under its options and futures contracts as quickly as it may be able to sell or otherwise obtain payments from other investments, so the Series’ investments in such contracts may not be as liquid as the Series’ other investments. <p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorFocusRiskMember_zVYiEKXU5kBc" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Sector focus risk — Because the Series’ investments may, from time to time, be more heavily invested in a particular sector or sectors, the value of its shares may be especially sensitive to factors and economic risks that specifically affect those sectors. As a result, the Series’ share price may fluctuate more widely than the value of shares of a mutual fund that invests in a broader range of sectors. <p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--LiquidityRiskMember_zRhF6gHQ20E1" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Liquidity risk — The Series is subject to the risk that, at certain times, its securities may be difficult or impossible to sell at the time and the price that the Series would like. The Series may have to lower the price, sell other securities instead or forego an investment opportunity, any of which could have a negative effect on the Series’ management or performance. <p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeRedemptionRiskMember_zK9QbgfAsak9" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Large redemption risk — Certain institutions or individuals may from time to time own (beneficially or of record) or control a significant percentage of the Series’ shares. Redemptions by these institutions or individuals in the Series may impact the Series’ liquidity and net asset value (NAV). These redemptions may also force the Series to sell securities, which may cause the Series to experience a loss (particularly during periods of declining or illiquid markets), as well as cause the Series’ portfolio turnover rate and transaction costs to rise, which may negatively affect the Series’ performance and increase the likelihood of capital gain distributions for remaining shareholders. Summary of Past Performance <p id="xdx_A83_eoef--PerformanceNarrativeTextBlock_gRBPNTB-CAZGG_zdtONfyobRul" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left"><span id="xdx_901_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260227__20260227__dei--LegalEntityAxis__custom--S000003639Member__dei--DocumentInformationDocumentAxis__custom--ClassWMember_z6Lfjxtt3l05">The bar chart and average annual total return table provide some indication of the risks of investing in the Series. The bar chart shows the variability in the performance of the Series by showing changes in the performance of the Class W shares of the Series from year to year. The total return table shows how the average annual total returns for the Series for different periods compare to those of a broad-based securities index and a blended index. The Series’ Class W Shares commenced operation on April 1, 2019, and all returns shown prior to that date include the returns of the Series’ Class S Shares (adjusted to reflect the higher class-related expenses of the class, where applicable). Except for differences in returns resulting from differences in expenses, the classes would have substantially similar returns because each class invests in the same portfolio of securities. The 40/15/45 Blended Index is a blend of 40% MSCI USA Investable Market Index, 15% MSCI ACWI ex USA Index, and 45% Bloomberg U.S. Aggregate Bond Index. The 40/15/45 Blended Index is provided because it better reflects the asset allocation of the Series as compared with the broad-based index. Because the Series’ asset allocation will vary over time, the composition of the Series’ portfolio may not match the composition of the comparative indices’ portfolios. Past performance (both before and after taxes) does not necessarily indicate how the Series will perform in the future. Quarterly updated performance information of the Series is available at www.manning-napier.com. The bar chart and average annual total return table provide some indication of the risks of investing in the Series. Past performance (both before and after taxes) does not necessarily indicate how the Series will perform in the future. www.manning-napier.com CALENDAR YEARS ENDED DECEMBER 31 <div id="xdx_A89_eoef--BarChartTableTextBlock_zNDzyyhPqIha"></div> <table border="0" cellpadding="0" cellspacing="0" id="xdx_A56_zRiW7Pog3JO3" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse; display: none" summary="xdx: Disclosure - Annual Total Returns"> <tr style="vertical-align: top"> <td style="text-align: left; width: 50%"> </td> <td id="xdx_485_eoef--AnnlRtrPct_dp_hoef--ClassAxis__custom--C000206456Member_zLjeiWwB2eij" style="text-align: left; width: 50%"> </td></tr> <tr id="xdx_416_20160101__20161231_z8OCpLVIcfGb" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2016</td> <td style="text-align: left">3.84%</td></tr> <tr id="xdx_419_20170101__20171231_zHh1DnPPlglf" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2017</td> <td style="text-align: left">14.87%</td></tr> <tr id="xdx_41E_20180101__20181231_zkln8qBhF1Sh" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2018</td> <td style="text-align: left">-4.26%</td></tr> <tr id="xdx_41D_20190101__20191231_zetRQqgnxg5c" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2019</td> <td style="text-align: left">19.29%</td></tr> <tr id="xdx_410_20200101__20201231_zenXgA8TZuQ6" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2020</td> <td style="text-align: left">18.72%</td></tr> <tr id="xdx_414_20210101__20211231_zWyBmMQWbaGg" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2021</td> <td style="text-align: left">12.33%</td></tr> <tr id="xdx_418_20220101__20221231_zeqD9PCjz8O5" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2022</td> <td style="text-align: left">-15.94%</td></tr> <tr id="xdx_41A_20230101__20231231_z00UF6pq2iwc" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2023</td> <td style="text-align: left">14.17%</td></tr> <tr id="xdx_411_20240101__20241231_z7W29OtwFNkf" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2024</td> <td style="text-align: left">8.22%</td></tr> <tr id="xdx_416_20250101__20251231_zE09f1JhXRDg" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2025</td> <td style="text-align: left">11.03%</td></tr> </table> <div style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 4pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left"> <div style="border-width: 0pt; padding: 0pt; overflow: hidden; display: inline-block; width: 313.2pt; height: 157.74pt; text-align: left"> <img alt="" src="classw-proimg005.gif" style="vertical-align: top; margin-left: -43.19pt; width: 349.2pt; margin-top: 7.19pt; height: 141.6pt"/> </div> </div> 0.0384 0.1487 -0.0426 0.1929 0.1872 0.1233 -0.1594 0.1417 0.0822 0.1103 <p id="xdx_A81_eoef--BarChartClosingTextBlock_zl0Pa2pudzEl" style="font: 12pt/normal Times New Roman, Times, serif; margin: 4pt 0pt 0pt; text-transform: none; color: #328345; text-indent: 0pt; text-align: left">Quarterly Returns Highest (quarter ended 06/30/2020): 13.11% Lowest (quarter ended 06/30/2022): (9.23)% Highest 2020-06-30 0.1311 Lowest 2022-06-30 -0.0923 <div id="xdx_A89_eoef--PerformanceTableTextBlock_zIphXB0Jb6ic"></div> <table style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 162pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> </tr> <tr style="min-height: 3pt"> <td colspan="4" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> AVERAGE ANNUAL TOTAL RETURNS  FOR PERIODS ENDED DECEMBER 31, 2025 </td> </tr> </table> <div></div> <table id="xdx_A55_dU_z2rkDTUaP21" style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 162pt"> </td> <td id="xdx_49D_20250101__20251231_zkqhRsX3pOZd" style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> 1 Year </td> <td id="xdx_496_20210101__20251231_zpXtwXCnjpLl" style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> 5 Years </td> <td id="xdx_493_20160101__20251231_zn3yNPFcHLCa" style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> 10 Years </td> </tr> <tr style="min-height: 14.2pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class W Shares </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> </tr> <tr id="xdx_404_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000206456Member_z5Tv5pQJozel" style="min-height: 14.2pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">11.03% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">5.31% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">7.75% </td> </tr> <tr id="xdx_400_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000206456Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zzZzpMkrgjRl" style="min-height: 14.2pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return After Taxes on Distributions </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">8.11% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">3.63% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">6.12% </td> </tr> <tr id="xdx_40C_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000206456Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_z5nbW8MzxRo9" style="min-height: 11pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return After Taxes on Distributions and Sale of Series Shares </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">8.12% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">3.72% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">5.75% </td> </tr> <tr style="min-height: 11pt"> <td colspan="4" style="border-width: 0pt; padding: 3pt 6pt; vertical-align: bottom; border-collapse: collapse"> Indices: (reflect no deduction for fees, expenses, or taxes) </td> </tr> <tr id="xdx_40F_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--MsciUsaImiIndexMember_zyKlJyAUvW43" style="min-height: 11pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> MSCI USA IMI Index </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">16.81% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">12.82% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">13.84% </td> </tr> <tr id="xdx_40E_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--BlendedIndex401545Member_zaTfbpHGKGIf" style="min-height: 11pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 40/15/45 Blended Index1 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">14.76% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">6.20% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">7.86% </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; color: #262626; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">1</td><td style="width: 5pt"></td><td style="text-align: justify">The returns of the indices do not reflect any fees or expenses. Returns provided are calculated monthly using a blended allocation, as noted above.</td> </tr></table> AVERAGE ANNUAL TOTAL RETURNS FOR PERIODS ENDED DECEMBER 31, 2025 0.1103 0.0531 0.0775 0.0811 0.0363 0.0612 0.0812 0.0372 0.0575 (reflect no deduction for fees, expenses, or taxes) 0.1681 0.1282 0.1384 0.1476 0.0620 0.0786 <p id="xdx_A8B_eoef--PerformanceTableClosingTextBlock_z7hymjeVLAia" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. The after-tax returns are shown for one share class only, and would be different for the other share classes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold their Series shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. The after-tax returns are shown for one share class only, and would be different for the other share classes. After-tax returns are not relevant to investors who hold their Series shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Pro-Blend® Maximum Term Series Investment Goal The Series’ objective is to provide long-term growth of capital. Fees and Expenses This table describes the fees and expenses you may pay if you buy, hold, and sell Class W shares of the Series. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below. <div id="xdx_A84_eoef--ShareholderFeesTableTextBlock_zvEaIdSAwm61"></div> <table id="xdx_A57_dU_zZG3pX8BVpq9" style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 0pt; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 252pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> </tr> <tr style="min-height: 3pt"> <td style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> CLASS </td> <td style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> W </td> </tr> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> <p id="xdx_98A_eoef--ShareholderFeesCaption_c20260227__20260227__dei--DocumentInformationDocumentAxis__custom--ClassWMember__dei--LegalEntityAxis__custom--S000003640Member_zo0yri3xxicl" style="font: 9pt/normal Arial, sans-serif; margin: 0 0pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Shareholder Fees (fees paid directly from your investment) </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> </tr> </table> Shareholder Fees (fees paid directly from your investment) 0 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) <div id="xdx_A8E_eoef--AnnualFundOperatingExpensesTableTextBlock_zMIuT2YKBm0e"></div> <table id="xdx_A54_dU_zcQME2GCTWLk" style="width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td id="xdx_492_20260227__20260227__oef--ClassAxis__custom--C000206458Member_zhcD7Dc11aZh" style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td></tr> <tr id="xdx_40E_eoef--ManagementFeesOverAssets_dpn_zJdNUjAEs4uf" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 252pt"> Management Fees </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 61.19pt"> 0.60% </td> </tr> <tr id="xdx_40C_eoef--DistributionAndService12b1FeesOverAssets_dpn_zoDNy9xCgL8f" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Distribution and Service (12b-1) Fees </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> None </td> </tr> <tr id="xdx_40C_eoef--OtherExpensesOverAssets_dpn_zJpRcpIetCUk" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Other Expenses </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.18% </td> </tr> <tr id="xdx_400_eoef--ExpensesOverAssets_dpn_zgHnKYpQszk2" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Total Annual Fund Operating Expenses </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.78% </td> </tr> <tr id="xdx_40B_eoef--FeeWaiverOrReimbursementOverAssets_dpn_zgWByzfBEyMg" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Less Fee Waiver and/or Expense Reimbursement1 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> (0.68)% </td> </tr> <tr id="xdx_403_eoef--NetExpensesOverAssets_dpn_zGoVLpW1xiM3" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 0.10% </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; color: #262626; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">1</td><td style="width: 5pt"></td><td style="text-align: justify">Manning & Napier Advisors, LLC (the Advisor or Manning & Napier) has contractually agreed to waive the management fee for the Class W shares. In addition, the Advisor has contractually agreed to reimburse expenses to the extent necessary so that the total direct annual fund operating expenses, exclusive of Distribution and Service (12b-1) Fees and waived Class W management fees (collectively, “excluded expenses”), do not exceed 0.10% of the average daily net assets of the Class W shares. These contractual waivers will continue indefinitely, and may only be amended or terminated with the approval of the Series’ Board of Directors. The Advisor’s agreement to limit Class W’s operating expenses is limited to direct operating expenses and, therefore, does not apply to acquired fund fees and expenses, which are indirect expenses incurred by the Series through its investments in other investment companies. The Advisor may receive from a Class the difference between the Class’s total direct annual fund operating expenses, not including excluded expenses, and the Class’s contractual expense limit to recoup all or a portion of its prior fee waivers (other than Class W management fee waivers) or expense reimbursements made during the rolling three-year period (i.e., the three year period following a waiver or reimbursement) preceding the recoupment if at any point the total direct annual fund operating expenses, not including excluded expenses, are below the contractual expense limit (a) at the time of the fee waiver and/or expense reimbursement and (b) at the time of the recoupment.</td> </tr></table> 0.0060 0 0.0018 0.0078 -0.0068 0.0010 Example <p id="xdx_A85_eoef--ExpenseExampleNarrativeTextBlock_zcYqf2FXWI8a" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The Example below is intended to help you compare the cost of investing in the Series with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Series for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Series’ operating expenses remain the same (taking into account the Advisor’s contractual waivers). Although your actual costs may be higher or lower, based on these assumptions your costs would be: <div id="xdx_A8B_eoef--ExpenseExampleWithRedemptionTableTextBlock_zw7VNOxC1pk2"></div> <table id="xdx_A56_dU_zKmdu0KSklfc" style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 68.39pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 61.19pt"> </td> </tr> <tr style="min-height: 3pt"> <td style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> </td> <td id="xdx_482_eoef--ExpenseExampleYear01_zXc2jOLjeWe2" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> AFTER 1 YEAR </td> <td id="xdx_485_eoef--ExpenseExampleYear03_zobWE6A2F637" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> AFTER 3 YEARS </td> <td id="xdx_483_eoef--ExpenseExampleYear05_z1gJVjaXp0I3" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> AFTER 5 YEARS </td> <td id="xdx_481_eoef--ExpenseExampleYear10_zEm0sIGmpzNf" style="border-width: 0pt; padding: 2pt 4pt; background-color: #328345; vertical-align: middle; border-collapse: collapse"> AFTER 10 YEARS </td> </tr> <tr id="xdx_418_20260227__20260227__oef--ClassAxis__custom--C000206458Member_zutWTe7j477i" style="min-height: 3pt"> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class W </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt 2pt 16pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $10 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt 2pt 16pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $32 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt 2pt 16pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $56 </td> <td style="border-bottom: #262626 0.5pt solid; padding: 2pt 4pt 2pt 13pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> $128 </td> </tr> </table> 10 32 56 128 Portfolio Turnover The Series pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Series shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the performance of the Series. During the most recent fiscal year, the portfolio turnover rate of the Series was 86% of the average value of its portfolio. 0.86 Principal Investment Strategies <p id="xdx_A89_eoef--StrategyNarrativeTextBlock_gRBSNTB-BTRC_z6J9PlcA243d" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The Advisor seeks to generate the high level of long-term capital growth typically associated with a long-term investment in the general stock market. The Series invests primarily in common stocks and in long-term fixed income securities. The Series may invest in U.S. and foreign stocks, including those in emerging markets, American Depository Receipts (ADRs), and derivatives instruments (as described below). The Series may invest in stocks of small-, large-, or mid-size companies. In the fixed income portion of the portfolio, the Series invests primarily in U.S. Treasury securities, and U.S. and foreign mortgage-backed and asset-backed securities and corporate bonds. The Series is not subject to any duration or maturity restrictions and will vary its average dollar weighted portfolio maturity depending on the Advisor’s outlook for yields. The Series invests primarily in investment grade securities, those securities rated BBB- or above by S&P or Baa3 or above by Moody’s (or determined to be of equivalent quality by the Advisor), but may also invest in non-investment grade securities (junk bonds). There are no prescribed limits on the sector allocations of the Series’ investments and, from time to time, the Series may focus its investments in one or more sectors. When the Advisor wishes to purchase or sell a security at a specified price, it may seek to generate additional gains for the Series by writing (selling) options on the underlying security, targeting options with premiums that are believed to offer sufficient income to compensate the Series for the risks associated with the option. Options are written only on stocks that the Advisor is planning to buy (in the case of puts) or sell (in the case of calls). In addition, the Series may buy and sell futures contracts based on fixed income securities, interest rates, and currencies, to seek to enhance returns, manage duration, hedge interest rate risk, and reduce volatility. The Advisor may target fixed income futures that are believed to offer the Series the opportunity to more efficiently manage duration and gain exposure to certain markets. The Advisor will consider selling a security if: • it no longer fits the Series’ investment strategies or the Advisor’s investment thesis; • it has reached the Advisor’s target sell price or no longer fits the Advisor’s valuation discipline; or • a more attractive investment opportunity is identified. The words “Maximum Term” in the Series’ name describe the investment horizon of those investors who may want to consider investing in the Series and do not reflect the Series’ maturity restrictions with respect to its investments in fixed income securities. Please see the “More Information About the Series’ Principal Investment Strategies and Principal Risks” section of the prospectus for the historical high and low equity exposures of the Series. You could lose money by investing in the Series. <p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_z9Lz8kH9zJL5" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Management risk — The value of your investment may decline if the Advisor’s judgments about the attractiveness, relative value or potential appreciation of a particular security or strategy prove to be incorrect. <p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_gRBRTB-FIJG_zU3ymAnoOM5l" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Market risk — Because the Series invests in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. This means that you could lose money on your investment in the Series or the Series could underperform if any of the following occurs: •U.S. and/or foreign stock or bond markets decline. •An adverse event, such as an unfavorable earnings report, depresses the value of one or more of the Series’ portfolio holdings. •The issuer of a bond owned by the Series defaults on its obligation to pay principal and/or interest or has its credit rating downgraded; this risk is greater for lower-rated investment grade securities and junk bonds. •Interest rates rise, credit spreads widen, and/or repayment spreads widen. These events alone or in combination can cause bond prices to fall and reduce the value of the Series’ portfolio. Longer-term bonds will experience greater fluctuations than shorter-term bonds given their greater sensitivity to interest rate changes. •Market volatility and/or prepayment spreads change to such a degree that prepayment uncertainty/risks are reassessed; the greater the uncertainty/risk, the wider the requisite prepayment spread. •An epidemic, pandemic or natural disaster, or widespread fear that such events may occur, negatively affects the global economy, as well as the economies of individual countries, the financial performance of individual companies and sectors, and the markets in general in significant and unforeseen ways. Any such impact could adversely affect the prices and liquidity of the securities and other instruments in which the Series invests. Current market conditions may pose heightened risks for the Series. Interest rates in the U.S. are coming off historic lows, but recent changes in government policy have caused interest rates to rise and there is an increased risk that interest rates will continue to rise in the near future. An increase in interest rates may, in turn, increase volatility and reduce liquidity in the fixed income markets, and result in a decline in the value of the fixed income investments held by the Series. In addition, reductions in dealer market-making capacity as a result of structural or regulatory changes could further decrease liquidity and/or increase volatility in the fixed income markets. As a result of these conditions, the Series’ value may fluctuate and/or the Series may experience increased redemptions from shareholders, which may impact the Series’ liquidity or force the Series to sell securities into a declining or illiquid market. <p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignSecuritiesRiskMember_zj7qRnMDCyWf" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Foreign securities risk — Because the Series may invest in securities of foreign issuers, the Series is subject to additional risks. These include risks of adverse changes in foreign economic, political, regulatory and other conditions. The prices of foreign common stocks may, at times, move in a different direction than the prices of U.S. stocks. In addition, investments in emerging market countries may be more volatile than investments in more developed countries. The Series’ investments may be denominated in the currencies of the countries in which they are located; therefore, the value of the Series may be affected by changes in exchange rates between those foreign currencies and the U.S. dollar. In addition, periodic U.S. Government restrictions on investment in issuers from certain foreign countries may require the Series to sell such investments at inopportune times or prevent an investment the Advisor otherwise believes is attractive, each of which could result in losses to the Series. These restrictions may also negatively impact the market for securities of issuers that are similar to those directly impacted by the restrictions resulting in reduced liquidity and price declines in those securities as well. <p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapRiskMember_zdXAFFzoeGp4" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Large-cap risk — Large-cap stocks tend to go in and out of favor based on market and economic conditions. During a period when large-cap stocks fall behind other types of investments — small-cap stocks, for instance — the Series’ performance could be reduced to the extent its portfolio is holding large-cap stocks. <p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallAndMidCapRiskMember_gRBRTB-LIMY_zrqnJCz6Cnze" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Small- and mid-cap risk — The Series may also have special risks due to its investments in stocks of small- and mid-size companies. These risks include the following: •The stocks of small- and mid-size companies may be subject to more abrupt or erratic market movements than the stocks of larger companies. •The stocks of small- and mid-size companies may be subject to liquidity risk because such stocks may have lower trading volume and be less marketable than the stocks of larger companies. Liquidity risk is further described below. •Small- and mid-size companies may have limited product lines, markets, or financial resources, and they may depend on a small management group. As a result, they fail more often than larger companies. <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--HighYieldSecuritiesRiskMember_zyeH9yQOg0dj" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">High-yield securities risk — The Series is subject to additional risks due to its ability to invest in high-yield securities (junk bonds): •High-yield securities may underperform other sectors of the bond market, or the market as a whole. •The performance of high-yield securities tends to be more volatile than that of other sectors of the bond market. •Given the total size of the high-yield securities market, high-yield securities can be less liquid than investment grade securities. •The Series’ investments in high-yield securities will subject it to a substantial degree of credit risk because the prospect for repayment of principal and interest of many of these bonds is speculative. <p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--RisksOfLowerRatedInvestmentGradeSecuritiesMember_zIAog3ggVkC7" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Risks of lower-rated investment grade securities — Securities with the lowest ratings within the investment grade categories carry more risk than those with the highest ratings. When a Series invests in securities in the lower rating categories, the achievement of its goals is more dependent on the Advisor’s ability than would be the case if the Series were to invest in higher-rated securities within the investment grade categories. The Advisor seeks to minimize this risk through investment analysis and attention to current developments in interest rates and economic conditions. <p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--USGovernmentSecuritiesRiskMember_zs2deY9EKIh9" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">U.S. Government securities risk — Although U.S. Government securities are considered to be among the safest investments, they are not guaranteed against price movements due to changing interest rates. Obligations issued by some U.S. Government agencies are backed by the U.S. Treasury, while others are backed solely by the ability of the agency to borrow from the U.S. Treasury or by the agency’s own resources, and, therefore, such obligations are not backed by the full faith and credit of the United States government. <p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--MortgageAndAssetBackedSecuritiesRisksMember_gRBRTB-BX_zSANlBqI2a8" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Mortgage- and asset-backed securities risks — The Series’ investments in mortgage-backed and asset-backed securities may subject it to the following additional risks: •Mortgage-backed securities are affected by, among other things, interest rate changes and the possibility of prepayment of the underlying mortgage loans. Mortgage-backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations. •Payment of principal and interest on asset-backed securities is dependent largely on the cash flows generated by the assets backing the securities, and asset-backed securities may not have the benefit of any security interest in the related assets. <p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsAndFuturesRiskMember_zxwWBBQkR2o8" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Options and futures risk — The Series is subject to the following risks due to its ability to invest in options and futures: •Options and futures, like all derivatives, can be extremely sensitive to changes in the market value of the underlying investment, and changes in the value of an option or futures contract may not correlate perfectly with the underlying investment. •The Series may not be able to receive amounts payable to it under its options and futures contracts as quickly as it may be able to sell or otherwise obtain payments from other investments, so the Series’ investments in such contracts may not be as liquid as the Series’ other investments. <p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorFocusRiskMember_z9ulAdGnPGog" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Sector focus risk — Because the Series’ investments may, from time to time, be more heavily invested in a particular sector or sectors, the value of its shares may be especially sensitive to factors and economic risks that specifically affect those sectors. As a result, the Series’ share price may fluctuate more widely than the value of shares of a mutual fund that invests in a broader range of sectors. <p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--LiquidityRiskMember_zyNALFYL3xAh" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Liquidity risk — The Series is subject to the risk that, at certain times, its securities may be difficult or impossible to sell at the time and the price that the Series would like. The Series may have to lower the price, sell other securities instead or forego an investment opportunity, any of which could have a negative effect on the Series’ management or performance. <p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeRedemptionRiskMember_zrxtaNDX2j15" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">Large redemption risk — Certain institutions or individuals may from time to time own (beneficially or of record) or control a significant percentage of the Series’ shares. Redemptions by these institutions or individuals in the Series may impact the Series’ liquidity and net asset value (NAV). These redemptions may also force the Series to sell securities, which may cause the Series to experience a loss (particularly during periods of declining or illiquid markets), as well as cause the Series’ portfolio turnover rate and transaction costs to rise, which may negatively affect the Series’ performance and increase the likelihood of capital gain distributions for remaining shareholders. Summary of Past Performance <p id="xdx_A84_eoef--PerformanceNarrativeTextBlock_gRBPNTB-LEUOD_zj95EdCwjKkc" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left"><span id="xdx_90E_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260227__20260227__dei--LegalEntityAxis__custom--S000003640Member__dei--DocumentInformationDocumentAxis__custom--ClassWMember_zpIh7gCZrvC7">The bar chart and average annual total return table provide some indication of the risks of investing in the Series. The bar chart shows the variability in the performance of the Series by showing changes in the performance of the Class W shares of the Series from year to year. The total return table shows how the average annual total returns for the Series for different periods compare to those of a broad-based securities index and a blended index. The Series’ Class W Shares commenced operation on April 1, 2019, and all returns shown prior to that date include the returns of the Series’ Class S Shares (adjusted to reflect the higher class-related expenses of the class, where applicable). Except for differences in returns resulting from differences in expenses, the classes would have substantially similar returns because each class invests in the same portfolio of securities. The 65/20/15 Blended Index is a blend of 65% MSCI USA Investable Market Index, 20% MSCI ACWI ex USA Index, and 15% Bloomberg U.S. Aggregate Bond Index. The 65/20/15 Blended Index is provided because it better reflects the asset allocation of the Series as compared with the broad-based index. Because the Series’ asset allocation will vary over time, the composition of the Series’ portfolio may not match the composition of the comparative indices’ portfolios. Past performance (both before and after taxes) does not necessarily indicate how the Series will perform in the future. Quarterly updated performance information of the Series is available at www.manning-napier.com. The bar chart and average annual total return table provide some indication of the risks of investing in the Series. Past performance (both before and after taxes) does not necessarily indicate how the Series will perform in the future. www.manning-napier.com CALENDAR YEARS ENDED DECEMBER 31 <div id="xdx_A82_eoef--BarChartTableTextBlock_z0wGI9CligKi"></div> <table border="0" cellpadding="0" cellspacing="0" id="xdx_A5A_zD5hXYCD6Fo" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse; display: none" summary="xdx: Disclosure - Annual Total Returns"> <tr style="vertical-align: top"> <td style="text-align: left; width: 50%"> </td> <td id="xdx_485_eoef--AnnlRtrPct_dp_hoef--ClassAxis__custom--C000206458Member_zH2nG0DTHkWa" style="text-align: left; width: 50%"> </td></tr> <tr id="xdx_416_20160101__20161231_zrLvXVnUXDif" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2016</td> <td style="text-align: left">4.56%</td></tr> <tr id="xdx_419_20170101__20171231_zRAmuXOAyayc" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2017</td> <td style="text-align: left">24.19%</td></tr> <tr id="xdx_41E_20180101__20181231_zSHkOH6qvWf6" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2018</td> <td style="text-align: left">-6.36%</td></tr> <tr id="xdx_41D_20190101__20191231_zGA17jd3Ssga" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2019</td> <td style="text-align: left">27.65%</td></tr> <tr id="xdx_410_20200101__20201231_zEfyP73pZsK1" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2020</td> <td style="text-align: left">23.27%</td></tr> <tr id="xdx_414_20210101__20211231_z3N9cQP8yGTb" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2021</td> <td style="text-align: left">19.63%</td></tr> <tr id="xdx_418_20220101__20221231_zmIYhd1tTrT1" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2022</td> <td style="text-align: left">-19.58%</td></tr> <tr id="xdx_41A_20230101__20231231_zHgNPT1xnXH9" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2023</td> <td style="text-align: left">20.22%</td></tr> <tr id="xdx_411_20240101__20241231_zNGQaSFZgYF9" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2024</td> <td style="text-align: left">13.01%</td></tr> <tr id="xdx_416_20250101__20251231_zUlYf9jjUrR5" style="vertical-align: top"> <td style="font-weight: bold; text-align: left">2025</td> <td style="text-align: left">13.21%</td></tr> </table> <div style="font: 9pt/normal Arial, sans-serif; margin: 4pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left"> <div style="border-width: 0pt; padding: 0pt; overflow: hidden; display: inline-block; width: 313.2pt; height: 157.26pt; text-align: left"> <img alt="" src="classw-proimg006.gif" style="vertical-align: top; margin-left: -4.8pt; width: 313.2pt; margin-top: 0pt; height: 148.79pt"/> </div> </div> 0.0456 0.2419 -0.0636 0.2765 0.2327 0.1963 -0.1958 0.2022 0.1301 0.1321 <p id="xdx_A81_eoef--BarChartClosingTextBlock_zz87p0QeI4Oe" style="font: 12pt/normal Times New Roman, Times, serif; margin: 4pt 0pt 0pt; text-transform: none; color: #328345; text-indent: 0pt; text-align: left">Quarterly Returns Highest (quarter ended 06/30/2020): 20.96% Lowest (quarter ended 03/31/2020): (15.69)% Highest 2020-06-30 0.2096 Lowest 2020-03-31 -0.1569 <div id="xdx_A89_eoef--PerformanceTableTextBlock_zE7jhRwalWzk"></div> <table style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse"> <tr style="margin: 0; height: 0"> <td style="border-width: 0; margin: 0; padding: 0; width: 162pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> <td style="border-width: 0; margin: 0; padding: 0; width: 50.4pt"> </td> </tr> <tr style="min-height: 3pt"> <td colspan="4" style="border-width: 0pt; padding: 3pt 6pt; background-color: #328345; vertical-align: bottom; border-collapse: collapse"> AVERAGE ANNUAL TOTAL RETURNS  FOR PERIODS ENDED DECEMBER 31, 2025 </td> </tr> </table> <div></div> <table id="xdx_A57_dU_zKysvm1m8gR7" style="table-layout: fixed; width: 313.2pt; margin-top: 0pt; margin-bottom: 8pt; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="min-height: 3pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 162pt"> </td> <td id="xdx_49D_20250101__20251231_zKvwYepEhtV7" style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> 1 Year </td> <td id="xdx_496_20210101__20251231_znNqiM051cai" style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> 5 Years </td> <td id="xdx_493_20160101__20251231_zftElyRF4c9a" style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse; width: 50.4pt"> 10 Years </td> </tr> <tr style="min-height: 14.2pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Class W Shares </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> <td style="border-bottom: #000000 0.5pt solid; padding: 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> </td> </tr> <tr id="xdx_404_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000206458Member_zUE1rOHFUCUk" style="min-height: 14.2pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return Before Taxes </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">13.21% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">8.15% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">11.05% </td> </tr> <tr id="xdx_400_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000206458Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zqIPTEfAx084" style="min-height: 14.2pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return After Taxes on Distributions </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">10.39% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">6.15% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">9.22% </td> </tr> <tr id="xdx_40C_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000206458Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zZz29sa21RWh" style="min-height: 11pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> Return After Taxes on Distributions and Sale of Series Shares </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">9.77% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">6.06% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">8.61% </td> </tr> <tr style="min-height: 11pt"> <td colspan="4" style="border-width: 0pt; padding: 3pt 6pt; vertical-align: bottom; border-collapse: collapse"> Indices: (reflect no deduction for fees, expenses, or taxes) </td> </tr> <tr id="xdx_406_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--MsciUsaImiIndexMember_zEs3Ql4CifDl" style="min-height: 11pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> MSCI USA IMI Index </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">16.81% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">12.82% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">13.84% </td> </tr> <tr id="xdx_407_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--BlendedIndex652015Member_z3sBe39IDywk" style="min-height: 11pt"> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 6pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse"> 65/20/15 Blended Index1 </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">18.41% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">9.92% </td> <td style="border-bottom: #000000 0.5pt solid; padding: 3pt 0pt; border-top-width: 0pt; border-right-width: 0pt; border-left-width: 0pt; vertical-align: bottom; border-collapse: collapse">11.09% </td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="font: 7.5pt/normal Arial, sans-serif; width: 100%; margin-top: 0pt; margin-bottom: 4pt; text-transform: none; color: #262626"> <tr style="vertical-align: top"> <td style="text-align: left">1</td> <td style="text-align: left">Returns provided are calculated monthly using a blended allocation, as noted above.</td></tr> </table> AVERAGE ANNUAL TOTAL RETURNS FOR PERIODS ENDED DECEMBER 31, 2025 0.1321 0.0815 0.1105 0.1039 0.0615 0.0922 0.0977 0.0606 0.0861 (reflect no deduction for fees, expenses, or taxes) 0.1681 0.1282 0.1384 0.1841 0.0992 0.1109 <p id="xdx_A8A_eoef--PerformanceTableClosingTextBlock_z4Di04rNZJc3" style="font: 9pt/normal Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #262626; text-indent: 0pt; text-align: left">The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. The after-tax figures are shown for one share class only, and would be different for the other share classes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After- tax returns are not relevant to investors who hold their Series shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. The after-tax figures are shown for one share class only, and would be different for the other share classes. After- tax returns are not relevant to investors who hold their Series shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Manning & Napier Advisors, LLC (the Advisor or Manning & Napier) has contractually agreed to waive the management fee for the Class W shares. In addition, pursuant to a separate expense limitation agreement, the Advisor has contractually agreed to limit its fees and reimburse expenses to the extent necessary so that the total direct annual fund operating expenses of each Class, exclusive of the Shareholder Services Fee and waived Class W management fees (collectively, “excluded expenses”), do not exceed 0.80% of the average daily net assets of the Class S shares, and 0.05% of the average daily net assets of the Class W shares. These contractual waivers will continue indefinitely, and may only be amended or terminated with the approval of the Series’ Board of Directors. The Advisor’s agreement to limit each Class’s operating expenses is limited to direct operating expenses and, therefore, does not apply to acquired fund fees and expenses, which are indirect expenses incurred by the Series through its investments in other investment companies. The Advisor may receive from a Class the difference between the Class’s total direct annual fund operating expenses, not including excluded expenses, and the Class’s contractual expense limit to recoup all or a portion of its prior fee waivers (other than Class W management fee waivers) or expense reimbursements made during the rolling three-year period (i.e., the three year period following a waiver or reimbursement) preceding the recoupment if at any point the total direct annual fund operating expenses, not including excluded expenses, are below the contractual expense limit (a) at the time of the fee waiver and/or expense reimbursement and (b) at the time of the recoupment. The total annual fund operating expenses in this fee table may not correlate to the expense ratios in the financial highlights in the prospectus (and in the Series’ financial statements) because the financial highlights include only the Series’ direct operating expenses and do not include fees and expenses incurred indirectly by the Series through its investments in other investment companies. Pursuant to an expense limitation agreement, Manning & Napier Advisors, LLC (the Advisor or Manning & Napier) has contractually agreed to limit its fees and reimburse expenses to the extent necessary so that the total direct annual fund operating expenses of each Class, exclusive of Distribution and Service (12b-1) Fees (“excluded expenses”), do not exceed 0.75% of the average daily net assets of the Class I shares, 0.80% of the average daily net assets of the Class S shares, and 0.65% of the average daily net assets of the Class Z shares. These contractual waivers will continue indefinitely, and may only be amended or terminated with the approval of the Series’ Board of Directors. The Advisor’s agreement to limit each Class’s operating expenses is limited to direct operating expenses and, therefore, does not apply to acquired fund fees and expenses, which are indirect expenses incurred by the Series through its investments in other investment companies. The Advisor may receive from a Class the difference between the Class’s total direct annual fund operating expenses, not including excluded expenses, and the Class’s contractual expense limit to recoup all or a portion of its prior fee waivers or expense reimbursements made during the rolling three-year period (i.e., the three year period following a waiver or reimbursement) preceding the recoupment if at any point the total direct annual fund operating expenses, not including excluded expenses, are below the contractual expense limit (a) at the time of the fee waiver and/or expense reimbursement and (b) at the time of the recoupment. The total annual fund operating expenses in this fee table may not correlate to the expense ratios in the financial highlights in the prospectus (and in the Series’ financial statements) because the financial highlights include only the Series’ direct operating expenses and do not include fees and expenses incurred indirectly by the Series through its investments in other investment companies. Manning & Napier Advisors, LLC (the Advisor or Manning & Napier) has contractually agreed to waive the management fee for the Class W shares. In addition, pursuant to a separate expense limitation agreement, the Advisor has contractually agreed to limit its fees and reimburse expenses to the extent necessary so that the total direct annual fund operating expenses of each Class, exclusive of Distribution and Service (12b-1) Fees and waived Class W management fees (collectively, “excluded expenses”), do not exceed 0.60% of the average daily net assets of the Class I and Class S shares, 0.45% of the average daily net assets of the Class Z shares, and 0.15% of the average daily net assets of the Class W shares. These contractual waivers will continue indefinitely, and may only be amended or terminated with the approval of the Series’ Board of Directors. The Advisor’s agreement to limit each Class’s operating expenses is limited to direct operating expenses and, therefore, does not apply to acquired fund fees and expenses, which are indirect expenses incurred by the Series through its investments in other investment companies. The Advisor may receive from a Class the difference between the Class’s total direct annual fund operating expenses, not including excluded expenses, and the Class’s contractual expense limit to recoup all or a portion of its prior fee waivers (other than Class W management fee waivers) or expense reimbursements made during the rolling three-year period (i.e., the three year period following a waiver or reimbursement) preceding the recoupment if at any point the total direct annual fund operating expenses, not including excluded expenses, are below the contractual expense limit (a) at the time of the fee waiver and/or expense reimbursement and (b) at the time of the recoupment. Manning & Napier Advisors, LLC (the Advisor or Manning & Napier) has contractually agreed to waive the management fee for the Class W shares. In addition, pursuant to a separate expense limitation agreement, the Advisor has contractually agreed to limit its fees and reimburse expenses to the extent necessary so that the total direct annual fund operating expenses of each Class, exclusive of Distribution and Service (12b-1) Fees and waived Class W management fees (collectively, “excluded expenses”), do not exceed 1.15% of the average daily net assets of the Class I and Class S shares, and 1.00% of the average daily net assets of the Class Z shares, and 0.10% of the average daily net assets of the Class W shares. These contractual waivers will continue indefinitely, and may only be amended or terminated with the approval of the Series’ Board of Directors. The Advisor’s agreement to limit each Class’s operating expenses is limited to direct operating expenses and, therefore, does not apply to acquired fund fees and expenses, which are indirect expenses incurred by the Series through its investments in other investment companies. The Advisor may receive from a Class the difference between the Class’s total direct annual fund operating expenses, not including excluded expenses, and the Class’s contractual expense limit to recoup all or a portion of its prior fee waivers (other than Class W management fee waivers) or expense reimbursements made during the rolling three-year period preceding the recoupment if at any point the total direct annual fund operating expenses, not including excluded expenses, are below the contractual expense limit (a) at the time of the fee waiver and/or expense reimbursement and (b) at the time of the recoupment. The total annual fund operating expenses in this fee table may not correlate to the expense ratios in the financial highlights in the prospectus (and in the Series’ financial statements) because the financial highlights include only the Series’ direct operating expenses and do not include fees and expenses incurred indirectly by the Series through its investments in other investment companies. Manning & Napier Advisors, LLC (the Advisor or Manning & Napier) has contractually agreed to limit its fees and reimburse expenses to the extent necessary. In addition, the Advisor has contractually agreed to reimburse expenses to the extent necessary so that the total direct annual fund operating expenses, exclusive of Distribution and Service (12b-1) Fees (“excluded expenses”), do not exceed 0.65% of the average daily net assets of the Class S, Class I, Class R, and Class L shares, and 0.50% of the average daily net assets of the Class Z shares. These contractual waivers will continue indefinitely, and may only be amended or terminated with the approval of the Series’ Board of Directors. The Advisor’s agreement to limit each Class’s operating expenses is limited to direct operating expenses and, therefore, does not apply to acquired fund fees and expenses, which are indirect expenses incurred by the Series through its investments in other investment companies. The Advisor may receive from a Class the difference between the Class’s total direct annual fund operating expenses, not including excluded expenses, and the Class’s contractual expense limit to recoup all or a portion of its prior fee waivers or expense reimbursements made during the rolling three-year period (i.e., the three year period following a waiver or reimbursement) preceding the recoupment if at any point the total direct annual fund operating expenses, not including excluded expenses, are below the contractual expense limit (a) at the time of the fee waiver and/or expense reimbursement and (b) at the time of the recoupment. Less than 0.01%. Returns provided are calculated monthly using a blended allocation, as noted above. Manning & Napier Advisors, LLC (the Advisor or Manning & Napier) has contractually agreed to limit its fees and reimburse expenses to the extent necessary. In addition, the Advisor has contractually agreed to reimburse expenses to the extent necessary so that the total direct annual fund operating expenses, exclusive of Distribution and Service (12b-1) Fees (“excluded expenses”), do not exceed 0.85% of the average daily net assets of the Class S, Class I, Class R, and Class L shares, and 0.70% of the average daily net assets of the Class Z shares. These contractual waivers will continue indefinitely, and may only be amended or terminated with the approval of the Series’ Board of Directors. The Advisor’s agreement to limit each Class’s operating expenses is limited to direct operating expenses and, therefore, does not apply to acquired fund fees and expenses, which are indirect expenses incurred by the Series through its investments in other investment companies. The Advisor may receive from a Class the difference between the Class’s total direct annual fund operating expenses, not including excluded expenses, and the Class’s contractual expense limit to recoup all or a portion of its prior fee waivers or expense reimbursements made during the rolling three-year period (i.e., the three year period following a waiver or reimbursement) preceding the recoupment if at any point the total direct annual fund operating expenses, not including excluded expenses, are below the contractual expense limit (a) at the time of the fee waiver and/or expense reimbursement and (b) at the time of the recoupment. Returns provided are calculated monthly using a blended allocation, as noted above. Manning & Napier Advisors, LLC (the Advisor or Manning & Napier) has contractually agreed to limit its fees and reimburse expenses to the extent necessary. In addition, the Advisor has contractually agreed to reimburse expenses to the extent necessary so that the total direct annual fund operating expenses, exclusive of Distribution and Service (12b-1) Fees (“excluded expenses”), do not exceed 0.85% of the average daily net assets of the Class S, Class I, Class R, and Class L shares, and 0.70% of the average daily net assets of the Class Z shares. These contractual waivers will continue indefinitely, and may only be amended or terminated with the approval of the Series’ Board of Directors. The Advisor’s agreement to limit each Class’s operating expenses is limited to direct operating expenses and, therefore, does not apply to acquired fund fees and expenses, which are indirect expenses incurred by the Series through its investments in other investment companies. The Advisor may receive from a Class the difference between the Class’s total direct annual fund operating expenses, not including excluded expenses, and the Class’s contractual expense limit to recoup all or a portion of its prior fee waivers or expense reimbursements made during the rolling three-year period (i.e., the three year period following a waiver or reimbursement) preceding the recoupment if at any point the total direct annual fund operating expenses, not including excluded expenses, are below the contractual expense limit (a) at the time of the fee waiver and/or expense reimbursement and (b) at the time of the recoupment. The returns of the indices do not reflect any fees or expenses. Returns provided are calculated monthly using a blended allocation, as noted above. Manning & Napier Advisors, LLC (the Advisor or Manning & Napier) has contractually agreed to limit its fees and reimburse expenses to the extent necessary. In addition, the Advisor has contractually agreed to reimburse expenses to the extent necessary so that the total direct annual fund operating expenses, exclusive of Distribution and Service (12b-1) Fees (“excluded expenses”), do not exceed 0.85% of the average daily net assets of the Class S, Class I, Class R, and Class L shares, and 0.70% of the average daily net assets of the Class Z shares. These contractual waivers will continue indefinitely, and may only be amended or terminated with the approval of the Series’ Board of Directors. The Advisor’s agreement to limit each Class’s operating expenses is limited to direct operating expenses and, therefore, does not apply to acquired fund fees and expenses, which are indirect expenses incurred by the Series through its investments in other investment companies. The Advisor may receive from a Class the difference between the Class’s total direct annual fund operating expenses, not including excluded expenses, and the Class’s contractual expense limit to recoup all or a portion of its prior fee waivers or expense reimbursements made during the rolling three-year period (i.e., the three year period following a waiver or reimbursement) preceding the recoupment if at any point the total direct annual fund operating expenses, not including excluded expenses, are below the contractual expense limit (a) at the time of the fee waiver and/or expense reimbursement and (b) at the time of the recoupment. Returns provided are calculated monthly using a blended allocation, as noted above. Manning & Napier Advisors, LLC (the Advisor or Manning & Napier) has contractually agreed to waive the management fee for the Class W shares. In addition, the Advisor has contractually agreed to reimburse expenses to the extent necessary so that the total direct annual fund operating expenses, exclusive of Distribution and Service (12b-1) Fees and waived Class W management fees (collectively, “excluded expenses”), do not exceed 0.10% of the average daily net assets of the Class W shares. These contractual waivers will continue indefinitely, and may only be amended or terminated with the approval of the Series’ Board of Directors. The Advisor’s agreement to limit Class W’s operating expenses is limited to direct operating expenses and, therefore, does not apply to acquired fund fees and expenses, which are indirect expenses incurred by the Series through its investments in other investment companies. The Advisor may receive from a Class the difference between the Class’s total direct annual fund operating expenses, not including excluded expenses, and the Class’s contractual expense limit to recoup all or a portion of its prior fee waivers (other than Class W management fee waivers) or expense reimbursements made during the rolling three-year period (i.e., the three year period following a waiver or reimbursement) preceding the recoupment if at any point the total direct annual fund operating expenses, not including excluded expenses, are below the contractual expense limit (a) at the time of the fee waiver and/or expense reimbursement and (b) at the time of the recoupment. Returns provided are calculated monthly using a blended allocation, as noted above. Manning & Napier Advisors, LLC (the Advisor or Manning & Napier) has contractually agreed to waive the management fee for the Class W shares. In addition, the Advisor has contractually agreed to reimburse expenses to the extent necessary so that the total direct annual fund operating expenses, exclusive of Distribution and Service (12b-1) Fees and waived Class W management fees (collectively, “excluded expenses”), do not exceed 0.10% of the average daily net assets of the Class W shares. These contractual waivers will continue indefinitely, and may only be amended or terminated with the approval of the Series’ Board of Directors. The Advisor’s agreement to limit Class W’s operating expenses is limited to direct operating expenses and, therefore, does not apply to acquired fund fees and expenses, which are indirect expenses incurred by the Series through its investments in other investment companies. The Advisor may receive from a Class the difference between the Class’s total direct annual fund operating expenses, not including excluded expenses, and the Class’s contractual expense limit to recoup all or a portion of its prior fee waivers (other than Class W management fee waivers) or expense reimbursements made during the rolling three-year period (i.e., the three year period following a waiver or reimbursement) preceding the recoupment if at any point the total direct annual fund operating expenses, not including excluded expenses, are below the contractual expense limit (a) at the time of the fee waiver and/or expense reimbursement and (b) at the time of the recoupment. Returns provided are calculated monthly using a blended allocation, as noted above. Manning & Napier Advisors, LLC (the Advisor or Manning & Napier) has contractually agreed to waive the management fee for the Class W shares. In addition, the Advisor has contractually agreed to reimburse expenses to the extent necessary so that the total direct annual fund operating expenses, exclusive of Distribution and Service (12b-1) Fees and waived Class W management fees (collectively, “excluded expenses”), do not exceed 0.10% of the average daily net assets of the Class W shares. These contractual waivers will continue indefinitely, and may only be amended or terminated with the approval of the Series’ Board of Directors. The Advisor’s agreement to limit Class W’s operating expenses is limited to direct operating expenses and, therefore, does not apply to acquired fund fees and expenses, which are indirect expenses incurred by the Series through its investments in other investment companies. The Advisor may receive from a Class the difference between the Class’s total direct annual fund operating expenses, not including excluded expenses, and the Class’s contractual expense limit to recoup all or a portion of its prior fee waivers (other than Class W management fee waivers) or expense reimbursements made during the rolling three-year period (i.e., the three year period following a waiver or reimbursement) preceding the recoupment if at any point the total direct annual fund operating expenses, not including excluded expenses, are below the contractual expense limit (a) at the time of the fee waiver and/or expense reimbursement and (b) at the time of the recoupment. The returns of the indices do not reflect any fees or expenses. Returns provided are calculated monthly using a blended allocation, as noted above. Manning & Napier Advisors, LLC (the Advisor or Manning & Napier) has contractually agreed to waive the management fee for the Class W shares. In addition, the Advisor has contractually agreed to reimburse expenses to the extent necessary so that the total direct annual fund operating expenses, exclusive of Distribution and Service (12b-1) Fees and waived Class W management fees (collectively, “excluded expenses”), do not exceed 0.10% of the average daily net assets of the Class W shares. These contractual waivers will continue indefinitely, and may only be amended or terminated with the approval of the Series’ Board of Directors. The Advisor’s agreement to limit Class W’s operating expenses is limited to direct operating expenses and, therefore, does not apply to acquired fund fees and expenses, which are indirect expenses incurred by the Series through its investments in other investment companies. The Advisor may receive from a Class the difference between the Class’s total direct annual fund operating expenses, not including excluded expenses, and the Class’s contractual expense limit to recoup all or a portion of its prior fee waivers (other than Class W management fee waivers) or expense reimbursements made during the rolling three-year period (i.e., the three year period following a waiver or reimbursement) preceding the recoupment if at any point the total direct annual fund operating expenses, not including excluded expenses, are below the contractual expense limit (a) at the time of the fee waiver and/or expense reimbursement and (b) at the time of the recoupment. Returns provided are calculated monthly using a blended allocation, as noted above.