NPORT-P
    false
    
      
      
        
          0001688680
          XXXXXXXX
        
      
      
      
      
        S000056108
        C000176700
      
      
      
    
  
  
    
      Brinker Capital Destinations Trust
      811-23207
      0001688680
      549300X40Y9W6WTS8B82
      1055 Westlakes Drive, Suite 250
      NULL
      Berwyn
      
      19312
      800-333-4573
      Destinations Global Fixed Income Opportunities Fund
      S000056108
      549300RH2TCLS3CBI491
      2022-02-28
      2021-05-31
      N
    
    
      850725265.43
      72913636.91
      777811628.52
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      94686900.47000000
      
        
          AUD
          
          
        
        
          CAD
          
          
        
        
          CHF
          
          
        
        
          COP
          
          
        
        
          EUR
          
          
        
        
          GBP
          
          
        
        
          MYR
          
          
        
        
          NOK
          
          
        
        
          SEK
          
          
        
        
          SGD
          
          
        
        
          USD
          
          
        
      
      
      
      
        
        
        
        
        
      
      N
      
        
          
        
        
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
        
        
        
        
      
      
      
      
      
    
    
      
        METLIFE INC V/R /PERP/
        C4BXATY60WC6XEOZDX54
        METLIFE INC REGD V/R /PERP/ SER D 5.87500000
        59156RBT4
        
          
        
        825000.00000000
        NS
        USD
        936375.00000000
        0.120385831950
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2169-09-15
          Variable
          5.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        STANDARD CHARTERED  V/R /PERP/
        U4LOSYZ7YG4W3S5F2G91
        STANDARD CHARTERED PLC REGD V/R /PERP/ 144A P/P 6.00000000
        853254BT6
        
          
        
        440000.00000000
        NS
        USD
        480524.00000000
        0.061778968374
        Long
        DBT
        CORP
        GB
        Y
        
        2
        
          2170-01-26
          Variable
          6.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        STORCENTRIC IN 5.875% 02/19/23
        N/A
        STORCENTRIC INC REGD 144A P/P SER 2020 5.87500000
        86213DAA1
        
          
        
        1156000.00000000
        NS
        USD
        1153110.00000000
        0.148250547782
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2023-02-19
          Fixed
          5.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GRIEG SEAFOO V/R 06/25/25/NOK/
        5967007LIEEXZXH5VC37
        GRIEG SEAFOOD ASA /NOK/ REGD V/R 3.79000000
        R28594AC4
        
          
        
        13500000.00000000
        NS
        
        1602683.46000000
        0.206050334198
        Long
        DBT
        CORP
        NO
        Y
        
        2
        
          2025-06-25
          Variable
          3.79000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        NONGHYUP BANK 1.25% 07/20/25
        N/A
        NONGHYUP BANK REGD 144A P/P MTN 1.25000000
        65540JAE8
        
          
        
        2000000.00000000
        NS
        USD
        2004585.80000000
        0.257721243357
        Long
        DBT
        CORP
        KR
        Y
        
        2
        
          2025-07-20
          Fixed
          1.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SB HOLDCO PL V/R 07/13/22/EUR/
        N/A
        SB HOLDCO PLC /EUR/ REGD V/R 8.00000000
        G7837UAA8
        
          
        
        2400000.00000000
        NS
        
        2963384.98000000
        0.380990058690
        Long
        DBT
        CORP
        GB
        N
        
        2
        
          2022-07-13
          Variable
          8.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CARTESIAN GROWTH CORP
        N/A
        CARTESIAN GROWTH CORP 0.00000000
        G19276123
        
          
        
        91599.00000000
        NS
        USD
        909578.07000000
        0.116940662320
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        T/L JZ CAPITAL PA 0% 10/8/27
        N/A
        T/L JZ CAPITAL PARTNERS LTD    GUGG  LAST OUT LOAN REGD 0.00000000
        N/A
        
          
        
        14779000.00000000
        NS
        USD
        14779000.00000000
        1.900074447089
        Long
        LON
        CORP
        US
        N
        
        3
        
          2027-10-08
          Variable
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SOUTHERN CO V/R 01/15/51
        549300FC3G3YU2FBZD92
        SOUTHERN CO REGD V/R SER B 4.00000000
        842587DF1
        
          
        
        595000.00000000
        NS
        USD
        629521.90000000
        0.080935007515
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2051-01-15
          Variable
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PSA TREASURY PTE 2.5% 04/12/26
        N/A
        PSA TREASURY PTE LTD REGD REG S EMTN SER GMTN 2.50000000
        Y708HTAA7
        
          
        
        950000.00000000
        NS
        USD
        994698.87000000
        0.127884288885
        Long
        DBT
        CORP
        SG
        N
        
        2
        
          2026-04-12
          Fixed
          2.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MONMOUTH REIT /PREFERRED/
        N/A
        MONMOUTH REIT /PREFERRED/ 0.00000000
        609720404
        
          
        
        76176.00000000
        NS
        USD
        1918111.68000000
        0.246603626079
        Long
        EP
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        SVB FINANCIAL GROUP V/R /PERP/
        549300D2KJ20JMXE7542
        SVB FINANCIAL GROUP REGD V/R /PERP/ SER C 4.00000000
        78486QAJ0
        
          
        
        180000.00000000
        NS
        USD
        182790.00000000
        0.023500548628
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2169-08-15
          Variable
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        RESCAP LIQUIDATING TRUST
        N/A
        RESCAP LIQUIDATING TRUST 0.00000000
        760841205
        
          
        
        621485.00000000
        NS
        USD
        503402.85000000
        0.064720406785
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        T/L APPVION OPER 0% 06/12/26
        N/A
        T/L APPVION OPERATIONS INC  REGD 0.00000000
        03835HAB3
        
          
        
        343423.25000000
        NS
        USD
        341706.13000000
        0.043931733271
        Long
        LON
        CORP
        US
        N
        
        2
        
          2026-06-12
          Variable
          7.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        DISH NETWORK C 3.375% 08/15/26
        529900U350CWHH15G169
        DISH NETWORK CORP REGD CONVERTIBLE 3.37500000
        25470MAB5
        
          
        
        1899000.00000000
        NS
        USD
        1959768.00000000
        0.251959205563
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2026-08-15
          Fixed
          3.37500000
          N
          N
          N
          N
          N
          
            
              DISH NETWORK CORP-A
              DISH NETWORK CORP-A
              USD
              
                
              
            
          
          
            
          
          XXXX
        
        
          N
          N
          N
        
      
      
        MORGAN STANLEY /PFD/
        N/A
        MORGAN STANLEY /PREFERRED/ 0.00000000
        61762V606
        
          
        
        59120.00000000
        NS
        USD
        1716844.80000000
        0.220727581981
        Long
        EP
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        THIMBLE POINT ACQUISITION-A
        N/A
        THIMBLE POINT ACQUISITION-A 0.00000000
        88408P107
        
          
        
        15084.00000000
        NS
        USD
        146616.48000000
        0.018849869894
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        TISHMAN SPEYER INNOVATION CO
        N/A
        TISHMAN SPEYER INNOVATION CO 0.00000000
        88825H209
        
          
        
        81494.00000000
        NS
        USD
        814940.00000000
        0.104773440010
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        MARTIN MIDSTRE 11.5% 2/28/25
        N/A
        MRT MID PART/MRT MID FIN REGD 144A P/P 11.50000000
        573334AH2
        
          
        
        3594055.00000000
        NS
        USD
        3737817.20000000
        0.480555582218
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2025-02-28
          Fixed
          11.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SURGERY CENTER  6.75% 07/01/25
        N/A
        SURGERY CENTER HOLDINGS REGD 144A P/P 6.75000000
        84611WAB0
        
          
        
        3057000.00000000
        NS
        USD
        3106676.25000000
        0.399412420191
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2025-07-01
          Fixed
          6.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        NOK/USD FWD 20210615 000000010 USD
        N/A
        
          
        
        1.00000000
        NC
        N/A
        110010.74000000
        0.014143622435
        N/A
        DFE
        
        N/A
        N
        
        2
        
          
            
              BROWN BROTHERS HARRIMAN AND CO
              5493006KMX1VFTPYPW14
            
            -65455000.00000000
            NOK
            7939536.53000000
            USD
            2021-06-15
            110010.74000000
          
        
        
          N
          N
          N
        
      
      
        HC2 HOLDINGS INC 8.5% 02/01/26
        549300S6O246JWQQ1K58
        HC2 HOLDINGS INC REGD 144A P/P 8.50000000
        404139AJ6
        
          
        
        9528000.00000000
        NS
        USD
        9408900.00000000
        1.209663066866
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2026-02-01
          Fixed
          8.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CASCADE ACQUISITION COR-CL A
        N/A
        CASCADE ACQUISITION COR-CL A 0.00000000
        147151104
        
          
        
        99874.00000000
        NS
        USD
        982760.16000000
        0.126349378688
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        UNITED OVERSEAS B V/R 09/16/26
        IO66REGK3RCBAMA8HR66
        UNITED OVERSEAS BANK LTD REGD V/R REG S EMTN 3.50000000
        Y9T10PX26
        
          
        
        4700000.00000000
        NS
        USD
        4725004.00000000
        0.607474075566
        Long
        DBT
        CORP
        SG
        N
        
        2
        
          2026-09-16
          Variable
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GOLDEN FALCON ACQUISITI-CL A
        N/A
        GOLDEN FALCON ACQUISITI-CL A 0.00000000
        38102H109
        
          
        
        86133.00000000
        NS
        USD
        831183.45000000
        0.106861792691
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        WELLS FARGO & COMPA V/R /PERP/
        PBLD0EJDB5FWOLXP3B76
        WELLS FARGO & COMPANY REGD V/R /PERP/ SER BB 3.90000000
        949746TD3
        
          
        
        950000.00000000
        NS
        USD
        973797.50000000
        0.125197086838
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2170-03-15
          Variable
          3.90000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GALAXY PIPELINE 1.75% 09/30/27
        549300L82YB0C6JQIC26
        GALAXY PIPELINE ASSETS REGD REG S 1.75000000
        G3R238AB9
        
          
        
        6100000.00000000
        NS
        USD
        6153464.06000000
        0.791125233201
        Long
        DBT
        CORP
        AE
        N
        
        2
        
          2027-09-30
          Fixed
          1.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LIVE OAK ACQUISITION CO /REST
        N/A
        LIVE OAK ACQUISITION CO II CL  A /RESTRICTED/ 0.00000000
        N/A
        
          
        
        414933.00000000
        NS
        USD
        0.00000000
        0.000000
        Long
        EC
        CORP
        US
        N
        
        3
        
          N
          N
          N
        
      
      
        JPMORGAN CHASE & CO V/R /PERP/
        8I5DZWZKVSZI1NUHU748
        JPMORGAN CHASE & CO REGD V/R /PERP/ SER KK 3.65000000
        48128BAN1
        
          
        
        435000.00000000
        NS
        USD
        437040.15000000
        0.056188430974
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2169-09-01
          Variable
          3.65000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        KOREA DEVELOPMEN 0.8% 04/27/26
        N/A
        KOREA DEVELOPMENT BANK REGD 0.80000000
        500630DE5
        
          
        
        2200000.00000000
        NS
        USD
        2171806.27000000
        0.279220082390
        Long
        DBT
        USGA
        KR
        N
        
        2
        
          2026-04-27
          Fixed
          0.80000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        KEYCORP V/R /PERP/
        RKPI3RZGV1V1FJTH5T61
        KEYCORP REGD V/R /PERP/ SER D 5.00000000
        493267AK4
        
          
        
        475000.00000000
        NS
        USD
        530323.25000000
        0.068181450437
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2169-12-15
          Variable
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AMERICAN EQUITY INVESTME /PFD/
        N/A
        AMERICAN EQUITY INVESTME      /PREFERRED/ 0.00000000
        025676602
        
          
        
        31620.00000000
        NS
        USD
        896743.20000000
        0.115290536566
        Long
        EP
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        FXI HOLDINGS I 12.25% 11/15/26
        N/A
        FXI HOLDINGS INC REGD 144A P/P 12.25000000
        35166FAA0
        
          
        
        3164000.00000000
        NS
        USD
        3658375.00000000
        0.470342029594
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2026-11-15
          Fixed
          12.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CLARIM ACQUISITION CORP
        N/A
        CLARIM ACQUISITION CORP 0.00000000
        18049C207
        
          
        
        49965.00000000
        NS
        USD
        494153.85000000
        0.063531301394
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        BBVA BANCOMER S 6.75% 09/30/22
        N/A
        BBVA BANCOMER SA TEXAS REGD 6.75000000
        P16259AH9
        
          
        
        457000.00000000
        NS
        USD
        486705.00000000
        0.062573633789
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2022-09-30
          Fixed
          6.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CITIGROUP INC V/R /PERP/
        6SHGI4ZSSLCXXQSBB395
        CITIGROUP INC REGD V/R /PERP/ SER P 5.95000000
        172967JM4
        
          
        
        2039000.00000000
        NS
        USD
        2238822.00000000
        0.287836015547
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2169-11-15
          Variable
          5.95000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        COMPEER FINANCIAL A V/R /PERP/
        N/A
        COMPEER FINANCIAL ACA REGD V/R /PERP/ 144A P/P SER QIB 4.87500000
        20453QAA0
        
          
        
        650000.00000000
        NS
        USD
        654875.00000000
        0.084194549938
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2169-08-15
          Variable
          4.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CAPITAL ONE FINANCI V/R /PERP/
        ZUE8T73ROZOF6FLBAR73
        CAPITAL ONE FINANCIAL CO REGD V/R /PERP/ SER E 3.99050000
        14040HBH7
        
          
        
        655000.00000000
        NS
        USD
        655000.00000000
        0.084210620667
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2169-12-01
          Variable
          3.99050000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ATHENA TECHNOLOGY ACQUISITIO
        N/A
        ATHENA TECHNOLOGY ACQUISITIO 0.00000000
        04687A208
        
          
        
        29898.00000000
        NS
        USD
        296887.14000000
        0.038169542484
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        RMG ACQUISITION CORP III
        N/A
        RMG ACQUISITION CORP III 0.00000000
        G76088114
        
          
        
        47352.00000000
        NS
        USD
        471152.40000000
        0.060574100813
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PETRONAS CAPITAL 3.5% 03/18/25
        N/A
        PETRONAS CAPITAL LTD REGD EMTN 3.50000000
        Y68856AN6
        
          
        
        3400000.00000000
        NS
        USD
        3682690.89000000
        0.473468222249
        Long
        DBT
        CORP
        MY
        N
        
        2
        
          2025-03-18
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AERCAP HOLDINGS N V/R 10/10/79
        549300SZYINBBLJQU475
        AERCAP HOLDINGS NV REGD V/R 5.87500000
        00774YAA7
        
          
        
        1410000.00000000
        NS
        USD
        1459350.00000000
        0.187622548505
        Long
        DBT
        CORP
        IE
        N
        
        2
        
          2079-10-10
          Variable
          5.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        KINS TECHNOLOGY GROUP INC-A
        N/A
        KINS TECHNOLOGY GROUP INC-A 0.00000000
        49714K109
        
          
        
        62712.00000000
        NS
        USD
        620848.80000000
        0.079819943188
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        COBANK ACB V/R /PERP/
        P0J8I7M2E0A77CKF1705
        COBANK ACB REGD V/R /PERP/ SER I 6.25000000
        19075QAC6
        
          
        
        1075000.00000000
        NS
        USD
        1204000.00000000
        0.154793263028
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2169-10-01
          Variable
          6.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TENCENT HOLDING 3.28% 04/11/24
        254900N4SLUMW4XUYY11
        TENCENT HOLDINGS LTD REGD REG S EMTN 3.28000000
        88032XAL8
        
          
        
        374000.00000000
        NS
        USD
        397350.55000000
        0.051085704485
        Long
        DBT
        CORP
        CN
        N
        
        2
        
          2024-04-11
          Fixed
          3.28000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CITIZENS FINANCIAL  V/R /PERP/
        2138004JDDA4ZQUPFW65
        CITIZENS FINANCIAL GROUP REGD V/R /PERP/ SER C 6.37500000
        174610AQ8
        
          
        
        225000.00000000
        NS
        USD
        240750.00000000
        0.030952224314
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2170-01-06
          Variable
          6.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        KOREA HYDRO & N 1.25% 04/27/26
        N/A
        KOREA HYDRO & NUCLEAR PO REGD 144A P/P MTN 1.25000000
        50064YAP8
        
          
        
        5100000.00000000
        NS
        USD
        5083017.00000000
        0.653502315164
        Long
        DBT
        USGA
        KR
        Y
        
        2
        
          2026-04-27
          Fixed
          1.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ASPEN INSURANCE HLDG LTD /PFD/
        N/A
        ASPEN INSURANCE HLDG LTD      /PREFERRED/ 0.00000000
        G05384162
        
          
        
        30926.00000000
        NS
        USD
        810261.20000000
        0.104171906190
        Long
        EP
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        SP POWERASSETS L 2.7% 09/14/22
        N/A
        SP POWERASSETS LTD REGD EMTN SER 21 2.70000000
        Y8131DAT6
        
          
        
        3000000.00000000
        NS
        USD
        3082590.00000000
        0.396315751394
        Long
        DBT
        CORP
        SG
        N
        
        2
        
          2022-09-14
          Fixed
          2.70000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CTO REALTY GRO 3.875% 04/15/25
        N/A
        CTO REALTY GROWTH INC REGD 144A P/P CONVERTIBLE 3.87500000
        210226AC0
        
          
        
        428000.00000000
        NS
        USD
        438956.80000000
        0.056434846678
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2025-04-15
          Fixed
          3.87500000
          N
          N
          N
          N
          N
          
            
              CTO REALTY GROWTH INC
              CTO REALTY GROWTH INC
              USD
              
                
              
            
          
          
            
          
          XXXX
        
        
          N
          N
          N
        
      
      
        REPUBLIC OF CO 2.625% 03/15/23
        N/A
        REPUBLIC OF COLOMBIA REGD 2.62500000
        P3772NHK1
        
          
        
        2100000.00000000
        NS
        USD
        2146620.00000000
        0.275981988606
        Long
        DBT
        USGA
        CO
        N
        
        2
        
          2023-03-15
          Fixed
          2.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GFL ENVIRONMENTAL INC-SUB VT
        549300FYK4MBXWIVZU26
        GFL ENVIRONMENTAL INC-SUB VT 0.00000000
        36168Q104
        
          
        
        -13400.00000000
        NS
        USD
        -436036.00000000
        -0.05605933159
        Short
        EC
        CORP
        CA
        N
        
        1
        
          N
          N
          N
        
      
      
        VOYA FINANCIAL INC V/R /PERP/
        549300T065Z4KJ686G75
        VOYA FINANCIAL INC REGD V/R /PERP/ SER A 6.12500000
        929089AG5
        
          
        
        770000.00000000
        NS
        USD
        831600.00000000
        0.106915346789
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2170-03-15
          Variable
          6.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PERIDOT ACQUISITION CORP II
        N/A
        PERIDOT ACQUISITION CORP II 0.00000000
        G7008B113
        
          
        
        45730.00000000
        NS
        USD
        456385.40000000
        0.058675569156
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        RELIANCE INDUSTR 5.4% 02/14/22
        5493003UOETFYRONLG31
        RELIANCE INDUSTRIES LTD REGD REG S 5.40000000
        Y72570AP2
        
          
        
        3150000.00000000
        NS
        USD
        3249782.17000000
        0.417810952014
        Long
        DBT
        CORP
        IN
        N
        
        2
        
          2022-02-14
          Fixed
          5.40000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        JACKTEL 10% 12/04/23
        N/A
        JACKTEL REGD 10.00000000
        R35277AD5
        
          
        
        664931.00000000
        NS
        USD
        664931.00000000
        0.085487407955
        Long
        DBT
        CORP
        NO
        N
        
        2
        
          2023-12-04
          Fixed
          10.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CROCS INC 4.25% 03/15/29
        549300B0J6YCXD63OG72
        CROCS INC REGD 144A P/P 4.25000000
        227046AA7
        
          
        
        1982000.00000000
        NS
        USD
        2003702.90000000
        0.257607732583
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2029-03-15
          Fixed
          4.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MARLIN TECHNOLOGY CORP
        N/A
        MARLIN TECHNOLOGY CORP 0.00000000
        G58411128
        
          
        
        25499.00000000
        NS
        USD
        253205.07000000
        0.032553520764
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PROVIDENT FINA 7.405% 03/15/38
        N/A
        PROVIDENT FINANCING TR I REGD 7.40500000
        743863AA0
        
          
        
        480000.00000000
        NS
        USD
        572005.15000000
        0.073540318635
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2038-03-15
          Fixed
          7.40500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ENEL GENERACION 4.25% 04/15/24
        N/A
        ENEL GENERACION CHILE SA REGD 4.25000000
        29246RAA1
        
          
        
        6300000.00000000
        NS
        USD
        6741894.16000000
        0.866777239217
        Long
        DBT
        CORP
        CL
        N
        
        2
        
          2024-04-15
          Fixed
          4.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MCDERMOTT WT EX 12/31/2049
        N/A
        MCDERMOTT INTL LTD WARRANTS  EXP 12/31/2049 0.00000000
        G5924V122
        
          
        
        558670.00000000
        NS
        USD
        5586.70000000
        0.000718258739
        N/A
        DE
        CORP
        BM
        N
        
        2
        
          
            
              MCDERMOTT INTL LTD
              N/A
            
            Call
            Purchased
            
              
                MCDERMOTT INTL LTD
                MCDERMOTT INTL LTD
                
                  
                
              
            
            558670.00000000
            USD
            0.00000000
            USD
            2049-12-31
            XXXX
            5586.70000000
          
        
        
          N
          N
          N
        
      
      
        PETROBRAS GLOB 4.375% 05/20/23
        N/A
        PETROBRAS GLOBAL FINANCE REGD 4.37500000
        71647NAF6
        
          
        
        6150000.00000000
        NS
        USD
        6519000.00000000
        0.838120665848
        Long
        DBT
        CORP
        NL
        
        N
        
        2
        
          2023-05-20
          Fixed
          4.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        UNIFIN FINANCIE 7.25% 09/27/23
        5493007GRMPGDJG93Z17
        UNIFIN FINANCIERA SA DE REGD REG S 7.25000000
        P94461AB9
        
          
        
        950000.00000000
        NS
        USD
        918365.00000000
        0.118070361296
        Long
        DBT
        CORP
        MX
        N
        
        2
        
          2023-09-27
          Fixed
          7.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GRUPO BIMBO SAB  4.5% 01/25/22
        5493000RIXURZEBFEV60
        GRUPO BIMBO SAB DE CV REGD 4.50000000
        P4949BAH7
        
          
        
        400000.00000000
        NS
        USD
        409306.30000000
        0.052622805444
        Long
        DBT
        CORP
        MX
        N
        
        2
        
          2022-01-25
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PT PERTAMINA (PE 1.4% 02/09/26
        N/A
        PT PERTAMINA (PERSERO) REGD REG S 1.40000000
        69370RAK3
        
          
        
        1900000.00000000
        NS
        USD
        1864003.65000000
        0.239647182126
        Long
        DBT
        CORP
        ID
        N
        
        2
        
          2026-02-09
          Fixed
          1.40000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PETRONAS CAPIT 3.125% 03/18/22
        N/A
        PETRONAS CAPITAL LTD REGD EMTN 3.12500000
        Y68856AM8
        
          
        
        2700000.00000000
        NS
        USD
        2755274.78000000
        0.354234197455
        Long
        DBT
        CORP
        MY
        N
        
        2
        
          2022-03-18
          Fixed
          3.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ROCKPOINT GAS STOR 7% 03/31/23
        N/A
        ROCKPOINT GAS STORAGE CA REGD 144A P/P 7.00000000
        77381WAA4
        
          
        
        598000.00000000
        NS
        USD
        603980.00000000
        0.077651191863
        Long
        DBT
        CORP
        CA
        Y
        
        2
        
          2023-03-31
          Fixed
          7.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ICAHN ENTERPRIS 5.25% 05/15/27
        N/A
        ICAHN ENTERPRISES/FIN REGD 144A P/P 5.25000000
        451102BX4
        
          
        
        5251000.00000000
        NS
        USD
        5375711.25000000
        0.691132795253
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2027-05-15
          Fixed
          5.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CREDIT SUISSE GROUP V/R /PERP/
        549300506SI9CRFV9Z86
        CREDIT SUISSE GROUP AG REGD V/R /PERP/ 6.37500000
        225401AL2
        
          
        
        1365000.00000000
        NS
        USD
        1491262.50000000
        0.191725405653
        Long
        DBT
        CORP
        CH
        Y
        
        2
        
          2170-02-21
          Variable
          6.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        INVERSIONES CMPC 4.5% 04/25/22
        N/A
        INVERSIONES CMPC CI REGD 4.50000000
        P58073AA8
        
          
        
        5135000.00000000
        NS
        USD
        5269793.75000000
        0.677515423628
        Long
        DBT
        CORP
        KY
        
        N
        
        2
        
          2022-04-25
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        STONEX GROUP I 8.625% 06/15/25
        549300JUF07L8VF02M60
        STONEX GROUP INC REGD 144A P/P 8.62500000
        46116VAE5
        
          
        
        5691000.00000000
        NS
        USD
        6089370.00000000
        0.782884926982
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2025-06-15
          Fixed
          8.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        REPUBLIC OF IND 3.75% 04/25/22
        N/A
        REPUBLIC OF INDONESIA REGD EMTN 3.75000000
        Y20721BC2
        
          
        
        1500000.00000000
        NS
        USD
        1543350.00000000
        0.198422078484
        Long
        DBT
        USGA
        ID
        N
        
        2
        
          2022-04-25
          Fixed
          3.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        INDIAN OIL CORP 5.75% 08/01/23
        N/A
        INDIAN OIL CORP LTD REGD 5.75000000
        Y3925YGZ1
        
          
        
        1500000.00000000
        NS
        USD
        1638782.96000000
        0.210691496489
        Long
        DBT
        CORP
        IN
        N
        
        2
        
          2023-08-01
          Fixed
          5.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BANCO INTERNAC DE V/R 07/08/30
        N/A
        BANCO INTERNAC DEL PERU REGD V/R REG S 4.00000000
        P13435AD7
        
          
        
        2700000.00000000
        NS
        USD
        2646000.00000000
        0.340185194329
        Long
        DBT
        CORP
        PE
        N
        
        2
        
          2030-07-08
          Variable
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        VODAFONE GROUP PL V/R 04/04/79
        213800TB53ELEUKM7Q61
        VODAFONE GROUP PLC REGD V/R 7.00000000
        92857WBQ2
        
          
        
        210000.00000000
        NS
        USD
        252688.29000000
        0.032487080513
        Long
        DBT
        CORP
        GB
        N
        
        2
        
          2079-04-04
          Variable
          7.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TRANSPORT DE GA 4.25% 04/30/28
        529900SKHHNI5HVI0Y66
        TRANSPORT DE GAS PERU REGD 4.25000000
        P9367RAG6
        
          
        
        1250000.00000000
        NS
        USD
        1340000.00000000
        0.172278216327
        Long
        DBT
        CORP
        PE
        N
        
        2
        
          2028-04-30
          Fixed
          4.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        EXPORT-IMPORT  3.125% 07/20/21
        N/A
        EXPORT-IMPORT BK INDIA REGD REG S EMTN 3.12500000
        Y23874TK9
        
          
        
        2000000.00000000
        NS
        USD
        2005801.14000000
        0.257877494556
        Long
        DBT
        USGA
        IN
        N
        
        2
        
          2021-07-20
          Fixed
          3.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        T/L INTERNATIONAL 0% 05/1/24
        N/A
        T/L INTERNATIONAL TEXTILE      GROUP INC REGD 0.00000000
        N/A
        
          
        
        2003059.39000000
        NS
        USD
        1912921.72000000
        0.245936374548
        Long
        LON
        CORP
        US
        N
        
        2
        
          2024-05-01
          Variable
          5.25950000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BNP PARIBAS V/R /PERP/
        R0MUWSFPU8MPRO8K5P83
        BNP PARIBAS REGD V/R /PERP/ 144A P/P 6.62500000
        05565AHN6
        
          
        
        1200000.00000000
        NS
        USD
        1317000.00000000
        0.169321202166
        Long
        DBT
        CORP
        FR
        Y
        
        2
        
          2169-09-25
          Variable
          6.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        T/L GOLDEN NUGGET 0% 10/04/23
        N/A
        T/L GOLDEN NUGGET ONLINE       GAMING INC REGD 0.00000000
        51509HAC5
        
          
        
        4828762.85000000
        NS
        USD
        5359926.76000000
        0.689103449147
        Long
        LON
        CORP
        US
        N
        
        2
        
          2023-10-04
          Variable
          13.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ALPINE INCOME PROPERTY TRUST
        N/A
        ALPINE INCOME PROPERTY TRUST 0.00000000
        02083X103
        
          
        
        43843.00000000
        NS
        USD
        799257.89000000
        0.102757256473
        Long
        RE
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        JPMORGAN CHASE & CO V/R /PERP/
        8I5DZWZKVSZI1NUHU748
        JPMORGAN CHASE & CO REGD V/R /PERP/ SER FF 5.00000000
        48128BAF8
        
          
        
        1015000.00000000
        NS
        USD
        1067201.45000000
        0.137205643483
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2170-02-01
          Variable
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CONNECT FINCO S 6.75% 10/01/26
        N/A
        CONNECT FINCO SARL/CONNE REGD 144A P/P 6.75000000
        20752TAA2
        
          
        
        7897000.00000000
        NS
        USD
        8163523.75000000
        1.049550231787
        Long
        DBT
        CORP
        LU
        
        Y
        
        2
        
          2026-10-01
          Fixed
          6.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MCDERMOTT INTL LTD
        N/A
        MCDERMOTT INTL LTD 144A 0.00000000
        58004K208
        
          
        
        555414.00000000
        NS
        USD
        272152.86000000
        0.034989559171
        Long
        EC
        CORP
        BM
        Y
        
        2
        
          N
          N
          N
        
      
      
        ECOPETROL SA 5.875% 09/18/23
        N/A
        ECOPETROL SA REGD 5.87500000
        279158AC3
        
          
        
        5600000.00000000
        NS
        USD
        6062448.00000000
        0.779423677624
        Long
        DBT
        CORP
        CO
        N
        
        2
        
          2023-09-18
          Fixed
          5.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LG CHEM LTD 3.25% 10/15/24
        988400IES4EIG7O06940
        LG CHEM LTD REGD 3.25000000
        Y52758AC6
        
          
        
        3900000.00000000
        NS
        USD
        4206086.20000000
        0.540758976309
        Long
        DBT
        CORP
        KR
        N
        
        2
        
          2024-10-15
          Fixed
          3.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MASON INDUSTRIAL TECHN-CL A
        N/A
        MASON INDUSTRIAL TECHN-CL A 0.00000000
        57520Y106
        
          
        
        534907.00000000
        NS
        USD
        5167201.62000000
        0.664325580967
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Z-WORK ACQUISITION CORP
        N/A
        Z-WORK ACQUISITION CORP 0.00000000
        98880C201
        
          
        
        27534.00000000
        NS
        USD
        273687.96000000
        0.035186920581
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        BANCO BTG PACTUAL V/R 02/15/29
        N/A
        BANCO BTG PACTUAL/CAYMAN REGD V/R 144A P/P 7.75000000
        05890BAE7
        
          
        
        500000.00000000
        NS
        USD
        541250.00000000
        0.069586257154
        Long
        DBT
        CORP
        KY
        
        Y
        
        2
        
          2029-02-15
          Variable
          7.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GIGINTERNATIONAL1 INC
        N/A
        GIGINTERNATIONAL1 INC 0.00000000
        37518W205
        
          
        
        126678.00000000
        NS
        USD
        1266780.00000000
        0.162864626029
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        HERTZ CORP 7.625% 06/01/22
        N/A
        HERTZ CORP REGD 0.00000000
        428040CT4
        
          
        
        5329000.00000000
        NS
        USD
        5828593.75000000
        0.749358011153
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2022-06-01
          Fixed
          0.00000000
          Y
          N
          N
        
        
          N
          N
          N
        
      
      
        SAUDI ARABIAN O 2.75% 04/16/22
        N/A
        SAUDI ARABIAN OIL CO REGD REG S EMTN 2.75000000
        M8237RAE4
        
          
        
        2100000.00000000
        NS
        USD
        2143717.72000000
        0.275608854560
        Long
        DBT
        CORP
        SA
        N
        
        2
        
          2022-04-16
          Fixed
          2.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PONTEM CORP
        N/A
        PONTEM CORP 0.00000000
        G71707114
        
          
        
        4986.00000000
        NS
        USD
        49760.28000000
        0.006397471852
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        EMPR ELEC ITABO 7.95% 05/11/26
        549300O6P66CXZUW5T91
        EMPR ELEC ITABO SA REGD 7.95000000
        P3759TAA4
        
          
        
        324000.00000000
        NS
        USD
        333720.00000000
        0.042904989815
        Long
        DBT
        CORP
        DO
        N
        
        2
        
          2026-05-11
          Fixed
          7.95000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GORES GUGGENHEIM INC
        N/A
        GORES GUGGENHEIM INC 0.00000000
        38286Q206
        
          
        
        67735.00000000
        NS
        USD
        672608.55000000
        0.086474478567
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        BARCLAYS PLC V/R /PERP/
        213800LBQA1Y9L22JB70
        BARCLAYS PLC REGD V/R /PERP/ 7.75000000
        06738EBA2
        
          
        
        1525000.00000000
        NS
        USD
        1673687.50000000
        0.215179027753
        Long
        DBT
        CORP
        GB
        N
        
        2
        
          2169-12-15
          Variable
          7.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        KOREA EAST-WEST 1.75% 05/06/25
        N/A
        KOREA EAST-WEST POWER CO REGD REG S 1.75000000
        Y4836TBT7
        
          
        
        2700000.00000000
        NS
        USD
        2756058.53000000
        0.354334960926
        Long
        DBT
        CORP
        KR
        N
        
        2
        
          2025-05-06
          Fixed
          1.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        WESCO INTERNATIONAL INC.
        N/A
        WESCO INTERNATIONAL INC. 0.00000000
        95082P303
        
          
        
        16234.00000000
        NS
        USD
        510396.96000000
        0.065619610363
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        MASON INDL TECHNOLOGY INC WT EX 2/2/26
        N/A
        MASON INDL TECHNOLOGY INC WARRANTS EXP 2/2/26 0.00000000
        57520Y114
        
          
        
        178302.00000000
        NS
        USD
        142641.60000000
        0.018338836135
        N/A
        DE
        CORP
        US
        N
        
        1
        
          
            
              MASON INDL TECHNOLOGY INC
              N/A
            
            Call
            Purchased
            
              
                MASON INDL TECHNOLOGY INC
                MASON INDL TECHNOLOGY INC
                
                  
                
              
            
            178302.00000000
            USD
            0.00000000
            USD
            2026-02-02
            XXXX
            142641.60000000
          
        
        
          N
          N
          N
        
      
      
        EQUITABLE HOLDINGS  V/R /PERP/
        549300FIBAKMNHPZ4009
        EQUITABLE HOLDINGS INC REGD V/R /PERP/ SER B 4.95000000
        29452EAA9
        
          
        
        615000.00000000
        NS
        USD
        661125.00000000
        0.084998086395
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2169-12-15
          Variable
          4.95000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MEGLOBAL CANADA UL 5% 05/18/25
        N/A
        MEGLOBAL CANADA ULC REGD 144A P/P MTN 5.00000000
        58518N2B7
        
          
        
        1000000.00000000
        NS
        USD
        1123200.00000000
        0.144405143715
        Long
        DBT
        CORP
        CA
        
        Y
        
        2
        
          2025-05-18
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        NATWEST GROUP PLC V/R /PERP/
        N/A
        NATWEST GROUP PLC REGD V/R /PERP/ 6.00000000
        780097BQ3
        
          
        
        800000.00000000
        NS
        USD
        887624.00000000
        0.114118119021
        Long
        DBT
        CORP
        GB
        N
        
        2
        
          2169-09-30
          Variable
          6.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        KOREA ELECTRIC 1.125% 06/15/25
        N/A
        KOREA ELECTRIC POWER CO REGD 144A P/P MTN 1.12500000
        500631AU0
        
          
        
        1900000.00000000
        NS
        USD
        1896099.32000000
        0.243773588678
        Long
        DBT
        USGA
        KR
        Y
        
        2
        
          2025-06-15
          Fixed
          1.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        OVERSEA-CHINESE 4.25% 06/19/24
        5493007O3QFXCPOGWK22
        OVERSEA-CHINESE BANKING REGD EMTN 4.25000000
        69033DAC1
        
          
        
        200000.00000000
        NS
        USD
        218586.05000000
        0.028102697617
        Long
        DBT
        CORP
        SG
        N
        
        2
        
          2024-06-19
          Fixed
          4.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        QBE INSURANCE GRO V/R 12/02/44
        549300D2FBW76FPUSG65
        QBE INSURANCE GROUP LTD REGD V/R 6.75000000
        Q78063AG1
        
          
        
        1300000.00000000
        NS
        USD
        1470950.00000000
        0.189113912169
        Long
        DBT
        CORP
        AU
        N
        
        2
        
          2044-12-02
          Variable
          6.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        UNITED OVERSEAS B V/R 04/15/29
        IO66REGK3RCBAMA8HR66
        UNITED OVERSEAS BANK LTD REGD V/R REG S EMTN 3.75000000
        91127LAC4
        
          
        
        1900000.00000000
        NS
        USD
        2028421.00000000
        0.260785635702
        Long
        DBT
        CORP
        SG
        N
        
        2
        
          2029-04-15
          Variable
          3.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ONE EQUITY PA WT EX 01/26/26
        N/A
        ONE EQUITY PARTNERS OPEN WTR  ICORP WARRANTS EXP 01/26/26 0.00000000
        68237L113
        
          
        
        16680.00000000
        NS
        USD
        12344.87000000
        0.001587128495
        N/A
        DE
        CORP
        US
        N
        
        1
        
          
            
              ONE EQUITY PARTNERS OPEN
              N/A
            
            Call
            Purchased
            
              
                ONE EQUITY PARTNERS OPEN
                ONE EQUITY PARTNERS OPEN
                
                  
                
              
            
            16680.00000000
            USD
            0.00000000
            USD
            2026-01-26
            XXXX
            12344.87000000
          
        
        
          N
          N
          N
        
      
      
        CERBERUS TELECOM ACQUISIT-A
        N/A
        CERBERUS TELECOM ACQUISIT-A 0.00000000
        G2040C104
        
          
        
        160214.00000000
        NS
        USD
        1581312.18000000
        0.203302717781
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        FIFTH THIRD BANCORP V/R /PERP/
        THRNG6BD57P9QWTQLG42
        FIFTH THIRD BANCORP REGD V/R /PERP/ SER L 4.50000000
        316773DB3
        
          
        
        610000.00000000
        NS
        USD
        664137.50000000
        0.085385390967
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2169-09-30
          Variable
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PWP FORWARD ACQUISITION CORP
        N/A
        PWP FORWARD ACQUISITION CORP 0.00000000
        74709Q200
        
          
        
        14913.00000000
        NS
        USD
        147638.70000000
        0.018981292460
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        ALLY FINANCIAL INC V/R /PERP/
        549300JBN1OSM8YNAI90
        ALLY FINANCIAL INC REGD V/R /PERP/ SER C 0.00000000
        02005NBN9
        
          
        
        200000.00000000
        NS
        USD
        201750.00000000
        0.025938156823
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2169-08-15
          Variable
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MARKEL CORP V/R /PERP/
        549300SCNO12JLWIK605
        MARKEL CORP REGD V/R /PERP/ 6.00000000
        570535AW4
        
          
        
        855000.00000000
        NS
        USD
        951803.10000000
        0.122369358479
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2169-12-01
          Variable
          6.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        EJF ACQUISITION CORP
        N/A
        EJF ACQUISITION CORP 0.00000000
        G2955B117
        
          
        
        60059.00000000
        NS
        USD
        596986.46000000
        0.076752061567
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        FORUM MERGER IV CORP
        N/A
        FORUM MERGER IV CORP 0.00000000
        349875203
        
          
        
        56078.00000000
        NS
        USD
        556854.54000000
        0.071592467839
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CHILE ELEC PEC SP ZCP 01/25/28
        N/A
        CHILE ELEC PEC SPA REGD ZCP 144A P/P 0.00000000
        168831AA3
        
          
        
        3400000.00000000
        NS
        USD
        2779500.00000000
        0.357348733045
        Long
        DBT
        CORP
        CL
        Y
        
        2
        
          2028-01-25
          Fixed
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SIRIUS XM RADI 5.375% 07/15/26
        N/A
        SIRIUS XM RADIO INC REGD 144A P/P 5.37500000
        82967NAW8
        
          
        
        633000.00000000
        NS
        USD
        652863.54000000
        0.083935944907
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2026-07-15
          Fixed
          5.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LAND O'LAKES INC 7.25% /PERP/
        4ONCJWH5BBCYSJIJYX61
        LAND O'LAKES INC REGD /PERP/ 144A P/P 7.25000000
        514666AM8
        
          
        
        1655000.00000000
        NS
        USD
        1733612.50000000
        0.222883335300
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2169-06-15
          Fixed
          7.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ISLEWORTH HEALTHCARE ACQUISI
        N/A
        ISLEWORTH HEALTHCARE ACQUISI 0.00000000
        46468P102
        
          
        
        60053.00000000
        NS
        USD
        584315.69000000
        0.075123033466
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PERU ENHANCED PAS ZCP 06/02/25
        549300O4IWRO77V4HJ21
        PERU ENHANCED S/UP 5/31/25 0.00000000
        G70464AC9
        
          
        
        297747.64000000
        NS
        USD
        283604.63000000
        0.036461865521
        Long
        DBT
        CORP
        KY
        
        N
        
        2
        
          2025-06-02
          Fixed
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GLOBAL BANK CORP 4.5% 10/20/21
        N/A
        GLOBAL BANK CORPORATION REGD REG S 4.50000000
        P47718AC8
        
          
        
        2200000.00000000
        NS
        USD
        2212100.00000000
        0.284400479356
        Long
        DBT
        CORP
        PA
        N
        
        2
        
          2021-10-20
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        REPUBLIC OF PE 2.392% 01/23/26
        N/A
        REPUBLIC OF PERU REGD 2.39200000
        715638DE9
        
          
        
        6900000.00000000
        NS
        USD
        7106241.00000000
        0.913619794232
        Long
        DBT
        USGA
        PE
        N
        
        2
        
          2026-01-23
          Fixed
          2.39200000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        APPVION INC
        N/A
        APPVION INC 0.00000000
        N/A
        
          
        
        267281.00000000
        NS
        USD
        3453270.52000000
        0.443972601254
        Long
        EC
        CORP
        US
        N
        
        3
        
          N
          N
          N
        
      
      
        T/L ALLIANCE HEALT 0% 04/24/24
        N/A
        T/L ALLIANCE HEALTHCARE  SERVICES INC REGD 0.00000000
        N/A
        
          
        
        1398100.81000000
        NS
        USD
        716526.67000000
        0.092120848252
        Long
        LON
        CORP
        US
        N
        
        2
        
          2024-04-24
          Variable
          12.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        HSBC HOLDINGS PLC V/R /PERP/
        MLU0ZO3ML4LN2LL2TL39
        HSBC HOLDINGS PLC REGD V/R /PERP/ SER * 6.00000000
        404280BL2
        
          
        
        430000.00000000
        NS
        USD
        474075.00000000
        0.060949847317
        Long
        DBT
        CORP
        GB
        N
        
        2
        
          2168-11-22
          Variable
          6.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PERUSAHAAN PENER 2.3% 06/23/25
        N/A
        PERUSAHAAN PENERBIT SBSN REGD REG S 2.30000000
        71567RAN6
        
          
        
        1750000.00000000
        NS
        USD
        1813962.50000000
        0.233213599988
        Long
        DBT
        USGA
        ID
        N
        
        2
        
          2025-06-23
          Fixed
          2.30000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        COHN ROBBINS HOLDINGS-CL A
        N/A
        COHN ROBBINS HOLDINGS-CL A 0.00000000
        G23726105
        
          
        
        30718.00000000
        NS
        USD
        301650.76000000
        0.038781981258
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        NISOURCE INC V/R /PERP/
        549300D8GOWWH0SJB189
        NISOURCE INC REGD V/R /PERP/ SER WI 5.65000000
        65473PAG0
        
          
        
        385000.00000000
        NS
        USD
        403287.50000000
        0.051848993408
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2169-06-15
          Variable
          5.65000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TEMASEK FINANC 2.375% 01/23/23
        N/A
        TEMASEK FINANCIAL I LTD REGD EMTN 2.37500000
        87973RAC4
        
          
        
        4000000.00000000
        NS
        USD
        4130440.00000000
        0.531033459587
        Long
        DBT
        CORP
        SG
        N
        
        2
        
          2023-01-23
          Fixed
          2.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SAUDI INTERNAT 2.875% 03/04/23
        N/A
        SAUDI INTERNATIONAL BOND REGD REG S EMTN 2.87500000
        M6320UAE9
        
          
        
        3000000.00000000
        NS
        USD
        3117000.00000000
        0.400739701710
        Long
        DBT
        USGA
        SA
        N
        
        2
        
          2023-03-04
          Fixed
          2.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ING GROEP NV V/R /PERP/
        N/A
        ING GROEP NV REGD V/R /PERP/ 5.75000000
        456837AR4
        
          
        
        600000.00000000
        NS
        USD
        660372.00000000
        0.084901276322
        Long
        DBT
        CORP
        NL
        N
        
        2
        
          2168-11-16
          Variable
          5.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        DUO BIDCO AS V/R 04/12/26/NOK/
        9845007554C7945DAC83
        DUO BIDCO AS /NOK/ REGD V/R REG S 5.35000000
        R1R1C2AA8
        
          
        
        8933000.00000000
        NS
        
        1078698.21000000
        0.138683734010
        Long
        DBT
        CORP
        NO
        N
        
        2
        
          2026-04-12
          Variable
          5.35000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        UBS GROUP AG V/R /PERP/
        549300SZJ9VS8SGXAN81
        UBS GROUP AG REGD V/R /PERP/ 6.87500000
        H4209UAN6
        
          
        
        1400000.00000000
        NS
        USD
        1589002.80000000
        0.204291468748
        Long
        DBT
        CORP
        CH
        N
        
        2
        
          2169-08-07
          Variable
          6.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        INVEPAR A-1 0% 12/30/2028
        N/A
        INVEPAR A-1 REGD 0.00000000
        N/A
        
          
        
        70068.00000000
        NS
        USD
        2996.25000000
        0.000385215377
        Long
        DBT
        CORP
        US
        N
        
        3
        
          2028-12-30
          Fixed
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FREDDIE MAC SERIES T PREFERRED
        N/A
        FREDDIE MAC SERIES T PREFERRED 0.00000000
        313400699
        
          
        
        13873.00000000
        NS
        USD
        142336.98000000
        0.018299672411
        Long
        EP
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        GMAC CAP  8.125% 2/15/40 /PFD/
        N/A
        GMAC CAPTIAL TRUST I REGD     /PREFERRED/ 0.00000000
        361860208
        
          
        
        6444.00000000
        NS
        USD
        163033.20000000
        0.020960499177
        Long
        EP
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PERUSAHAAN PENE 3.75% 03/01/23
        N/A
        PERUSAHAAN PENERBIT SBSN REGD REG S 3.75000000
        71567RAJ5
        
          
        
        1321000.00000000
        NS
        USD
        1391937.70000000
        0.178955629995
        Long
        DBT
        USGA
        ID
        N
        
        2
        
          2023-03-01
          Fixed
          3.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        JPMORGAN CHASE & CO V/R /PERP/
        8I5DZWZKVSZI1NUHU748
        JPMORGAN CHASE & CO REGD V/R /PERP/ SER S 6.75000000
        46625HJQ4
        
          
        
        585000.00000000
        NS
        USD
        643061.25000000
        0.082675705327
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2169-08-01
          Variable
          6.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MODEX AS V/R 03/02/26/NOK/
        549300HV07S0EMQFPW71
        MODEX AS /NOK/ REGD V/R REG S 8.20000000
        R4S54QAA8
        
          
        
        18100000.00000000
        NS
        
        2192760.92000000
        0.281914134425
        Long
        DBT
        CORP
        NO
        
        N
        
        2
        
          2026-03-02
          Variable
          8.20000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        SEK/USD FWD 20210615 000000010 USD
        N/A
        
          
        
        1.00000000
        NC
        N/A
        -2373.68000000
        -0.00030517414
        N/A
        DFE
        
        N/A
        N
        
        2
        
          
            
              BROWN BROTHERS HARRIMAN AND CO
              5493006KMX1VFTPYPW14
            
            -8980000.00000000
            SEK
            1079131.46000000
            USD
            2021-06-15
            -2373.68000000
          
        
        
          N
          N
          N
        
      
      
        LIFEFITGROUP V/R 07/26/23/EUR/
        N/A
        LIFEFITGROUP MIDCO /EUR/ REGD V/R EMTN 7.50000000
        D5S7C6AA1
        
          
        
        2640000.00000000
        NS
        
        3090700.78000000
        0.397358520581
        Long
        DBT
        CORP
        DE
        N
        
        2
        
          2023-07-26
          Variable
          7.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MULTIBANK INC. 4.375% 11/09/22
        N/A
        MULTIBANK INC. REGD REG S 4.37500000
        P69895AA1
        
          
        
        3400000.00000000
        NS
        USD
        3475650.00000000
        0.446849837744
        Long
        DBT
        CORP
        PA
        N
        
        2
        
          2022-11-09
          Fixed
          4.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GEOPARK LTD 6.5% 09/21/24
        529900ZR5QI19AH4KZ07
        GEOPARK LTD REGD REG S 6.50000000
        G38327AA3
        
          
        
        234000.00000000
        NS
        USD
        241078.50000000
        0.030994458190
        Long
        DBT
        CORP
        CL
        
        N
        
        2
        
          2024-09-21
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        EQUITY DISTRIBUTION ACQUIS-A
        N/A
        EQUITY DISTRIBUTION ACQUIS-A 0.00000000
        29465E106
        
          
        
        69779.00000000
        NS
        USD
        683834.20000000
        0.087917713611
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        EMPRESA ELEC GU 4.56% 04/30/25
        N/A
        EMPRESA ELEC GUACOLDA REGD 4.56000000
        P3711HAF6
        
          
        
        1524000.00000000
        NS
        USD
        1142376.59000000
        0.146870597984
        Long
        DBT
        CORP
        CL
        N
        
        2
        
          2025-04-30
          Fixed
          4.56000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BANCO MERCANTIL DE  V/R /PERP/
        N/A
        BANCO MERCANTIL DE NORTE REGD V/R /PERP/ 6.87500000
        P14008AD1
        
          
        
        3800000.00000000
        NS
        USD
        3933000.00000000
        0.505649421503
        Long
        DBT
        CORP
        KY
        
        N
        
        2
        
          2168-10-06
          Variable
          6.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GENERAL MOTORS FINL V/R /PERP/
        N/A
        GENERAL MOTORS FINL CO REGD V/R /PERP/ SER A 5.75000000
        37045XCA2
        
          
        
        960000.00000000
        NS
        USD
        1044000.00000000
        0.134222729735
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2170-03-30
          Variable
          5.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SUPERNOVA PARTNERS ACQUISITI
        N/A
        SUPERNOVA PARTNERS ACQUISITI 0.00000000
        G8T90F110
        
          
        
        5598.00000000
        NS
        USD
        55980.00000000
        0.007197115335
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        UNITED OVERSEAS B V/R 03/16/31
        IO66REGK3RCBAMA8HR66
        UNITED OVERSEAS BANK LTD REGD V/R EMTN SER GMTN 1.75000000
        Y9T10P5L5
        
          
        
        1100000.00000000
        NS
        USD
        1093983.00000000
        0.140648835770
        Long
        DBT
        CORP
        SG
        N
        
        2
        
          2031-03-16
          Variable
          1.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GLOBAL PARTNER ACQUISITION C
        N/A
        GLOBAL PARTNER ACQUISITION C 0.00000000
        G3934P110
        
          
        
        33614.00000000
        NS
        USD
        333114.74000000
        0.042827174059
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CIT GROUP INC V/R /PERP/
        N8O96ZZJQRFYQUJY7K79
        CIT GROUP INC REGD V/R /PERP/ SER A 5.80000000
        125581GU6
        
          
        
        260000.00000000
        NS
        USD
        268452.60000000
        0.034513832161
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2169-12-15
          Variable
          5.80000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SYNCHRONY FINANCIAL /PFD/
        549300RS7EWPM9MA6C78
        SYNCHRONY FINANCIAL           /PREFERRED/ 0.00000000
        87165B202
        
          
        
        6165.00000000
        NS
        USD
        164605.50000000
        0.021162643237
        Long
        EP
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        KOREA DEVELOPMENT  1% 09/09/26
        N/A
        KOREA DEVELOPMENT BANK REGD 1.00000000
        500630DL9
        
          
        
        200000.00000000
        NS
        USD
        199100.58000000
        0.025597531934
        Long
        DBT
        USGA
        KR
        N
        
        2
        
          2026-09-09
          Fixed
          1.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        HAWAIIAN AIRLIN 4.95% 01/15/22
        N/A
        HAWAIIAN AIRLINES 13-1B REGD SER B 4.95000000
        419839AA3
        
          
        
        864380.29000000
        NS
        USD
        862946.11000000
        0.110945385535
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2022-01-15
          Fixed
          4.95000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        REGIONS FINANCIAL C V/R /PERP/
        CW05CS5KW59QTC0DG824
        REGIONS FINANCIAL CORP REGD V/R /PERP/ SER D 5.75000000
        7591EPAR1
        
          
        
        1150000.00000000
        NS
        USD
        1276500.00000000
        0.164114285926
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2169-09-15
          Variable
          5.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        KOREA SOUTHERN  0.75% 01/27/26
        N/A
        KOREA SOUTHERN POWER REGD 144A P/P 0.75000000
        50065AAC8
        
          
        
        4800000.00000000
        NS
        USD
        4686031.34000000
        0.602463523066
        Long
        DBT
        CORP
        KR
        Y
        
        2
        
          2026-01-27
          Fixed
          0.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CBRE ACQUISITION HOLDINGS-A
        N/A
        CBRE ACQUISITION HOLDINGS-A 0.00000000
        12510J106
        
          
        
        59653.00000000
        NS
        USD
        581616.75000000
        0.074776041997
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        HAWAIIAN AIRLINE 3.9% 01/15/26
        N/A
        HAWAIIAN AIRLINES 13-1A REGD SER A 3.90000000
        419838AA5
        
          
        
        8163807.78000000
        NS
        USD
        7915614.15000000
        1.017677527534
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2026-01-15
          Fixed
          3.90000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BANGKOK BANK P 3.875% 09/27/22
        N/A
        BANGKOK BANK PCL/HK REGD 3.87500000
        Y0606WBU3
        
          
        
        1800000.00000000
        NS
        USD
        1876374.00000000
        0.241237586479
        Long
        DBT
        CORP
        HK
        
        N
        
        2
        
          2022-09-27
          Fixed
          3.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SOCIETE GENERALE V/R /PERP/
        O2RNE8IBXP4R0TD8PU41
        SOCIETE GENERALE REGD V/R /PERP/ 7.87500000
        83367TBF5
        
          
        
        290000.00000000
        NS
        USD
        323727.00000000
        0.041620231445
        Long
        DBT
        CORP
        FR
        Y
        
        2
        
          2169-06-18
          Variable
          7.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ARES ACQUISITION CORP
        N/A
        ARES ACQUISITION CORP 0.00000000
        G33032114
        
          
        
        29961.00000000
        NS
        USD
        300209.22000000
        0.038596648467
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        PERUSAHAAN PENER 3.3% 11/21/22
        N/A
        PERUSAHAAN PENERBIT SBSN REGD REG S 3.30000000
        71567RAA4
        
          
        
        3018000.00000000
        NS
        USD
        3139051.98000000
        0.403574832890
        Long
        DBT
        USGA
        ID
        N
        
        2
        
          2022-11-21
          Fixed
          3.30000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        OVERSEA-CHINESE B V/R 09/10/30
        5493007O3QFXCPOGWK22
        OVERSEA-CHINESE BANKING REGD V/R 144A P/P 1.83200000
        69033CAD1
        
          
        
        2500000.00000000
        NS
        USD
        2504000.00000000
        0.321928846032
        Long
        DBT
        CORP
        SG
        Y
        
        2
        
          2030-09-10
          Variable
          1.83200000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AKER HORIZON V/R 08/15/25/NOK/
        N/A
        AKER HORIZONS HOLDING AS /NOK/ REGD V/R 3.51000000
        R0166CAB0
        
          
        
        24500000.00000000
        NS
        
        2892214.12000000
        0.371839917783
        Long
        DBT
        CORP
        NO
        N
        
        2
        
          2025-08-15
          Variable
          3.51000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AIR LEASE CORP /PFD/
        5493004NW4M4P8TMMK63
        AIR LEASE CORP /PREFERRED/ 0.00000000
        00912X500
        
          
        
        13299.00000000
        NS
        USD
        355349.28000000
        0.045685776217
        Long
        EP
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        T/L GEMMACERT LTD 0% 05/19/24
        N/A
        T/L GEMMACERT LTD REGD 0.00000000
        N/A
        
          
        
        798000.00000000
        NS
        USD
        798000.00000000
        0.102595534797
        Long
        LON
        CORP
        US
        N
        
        3
        
          2024-05-19
          Fixed
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        T/L ALLIANCE HEAL 0% 10/24/23
        N/A
        T/L ALLIANCE HEALTHCARE  SERVICES INC REGD 0.00000000
        N/A
        
          
        
        2871475.51000000
        NS
        USD
        2727901.73000000
        0.350714958477
        Long
        LON
        CORP
        US
        N
        
        2
        
          2023-10-24
          Variable
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        UNICREDIT SPA V/R /PERP/
        549300TRUWO2CD2G5692
        UNICREDIT SPA REGD V/R /PERP/ 8.00000000
        T9T20LTJ7
        
          
        
        245000.00000000
        NS
        USD
        271612.88000000
        0.034920136192
        Long
        DBT
        CORP
        IT
        N
        
        2
        
          2170-06-03
          Variable
          8.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        REPUBLIC OF IND 2.95% 01/11/23
        N/A
        REPUBLIC OF INDONESIA REGD 2.95000000
        455780CC8
        
          
        
        2200000.00000000
        NS
        USD
        2283644.00000000
        0.293598593318
        Long
        DBT
        USGA
        ID
        N
        
        2
        
          2023-01-11
          Fixed
          2.95000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CORP FINANCIERA D V/R 07/15/29
        N/A
        CORP FINANCIERA DE DESAR REGD V/R 5.25000000
        P3R94GAA7
        
          
        
        1015000.00000000
        NS
        USD
        1033280.15000000
        0.132844523289
        Long
        DBT
        USGA
        PE
        N
        
        2
        
          2029-07-15
          Variable
          5.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ONGC VIDESH VA 2.875% 01/27/22
        N/A
        ONGC VIDESH VANKORNEFT REGD REG S 2.87500000
        Y6478PAA5
        
          
        
        5190000.00000000
        NS
        USD
        5256795.30000000
        0.675844267075
        Long
        DBT
        CORP
        SG
        
        N
        
        2
        
          2022-01-27
          Fixed
          2.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CANACOL ENERGY  7.25% 05/03/25
        549300X5MNRWPMSM9N14
        CANACOL ENERGY LTD REGD REG S 7.25000000
        U13518AB8
        
          
        
        950000.00000000
        NS
        USD
        997509.50000000
        0.128245639872
        Long
        DBT
        CORP
        CA
        
        N
        
        2
        
          2025-05-03
          Fixed
          7.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ISLEWORTH HEALT WT EX 08/02/27
        N/A
        ISLEWORTH HEALTHCARE ACQUISITION CORP WARRANTS EXP 08/02/27 0.00000000
        46468P110
        
          
        
        30026.00000000
        NS
        USD
        18916.38000000
        0.002432000153
        N/A
        DE
        CORP
        US
        N
        
        1
        
          
            
              ISLEWORTH HEALTHCARE ACQUISITION CORP
              N/A
            
            Call
            Purchased
            
              
                ISLEWORTH HEALTHCARE ACQUISITION CORP
                ISLEWORTH HEALTHCARE ACQUISITION CORP
                
                  
                
              
            
            30026.00000000
            USD
            0.00000000
            USD
            2027-08-02
            XXXX
            18916.38000000
          
        
        
          N
          N
          N
        
      
      
        POSCO 2.375% 01/17/23
        988400E5HRVX81AYLM04
        POSCO REGD REG S 2.37500000
        Y70750BU0
        
          
        
        3044000.00000000
        NS
        USD
        3118030.08000000
        0.400872134803
        Long
        DBT
        CORP
        KR
        N
        
        2
        
          2023-01-17
          Fixed
          2.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CHOBANI LLC/FINA 7.5% 04/15/25
        N/A
        CHOBANI LLC/FINANCE CORP REGD 144A P/P 7.50000000
        17027NAA0
        
          
        
        3201000.00000000
        NS
        USD
        3330704.52000000
        0.428214801357
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2025-04-15
          Fixed
          7.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        OAS FINANCE LTD WT EX 01/21/39
        N/A
        OAS FINANCE LTD WARRANTS EXP 01/21/2039 0.00000000
        P7331H100
        
          
        
        58463.00000000
        NS
        USD
        0.00000000
        0.000000
        N/A
        DE
        CORP
        BR
        N
        
        3
        
          
            
              OAS FINANCE LTD
              N/A
            
            Call
            Purchased
            
              
                OAS FINANCE LTD
                OAS FINANCE LTD
                
                  
                
              
            
            58463.00000000
            USD
            0.00000000
            USD
            2039-01-21
            XXXX
            0.00000000
          
        
        
          N
          N
          N
        
      
      
        DISRUPTIVE ACQUISITION CORP
        N/A
        DISRUPTIVE ACQUISITION CORP 0.00000000
        G2770Y110
        
          
        
        74156.00000000
        NS
        USD
        740818.44000000
        0.095243939899
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        ATHENE HOLDING LTD /PFD/
        549300H316CT32FQXI76
        ATHENE HOLDING LTD /PREFERRED/ 0.00000000
        04686J309
        
          
        
        24704.00000000
        NS
        USD
        706534.40000000
        0.090836183735
        Long
        EP
        CORP
        BM
        
        N
        
        1
        
          N
          N
          N
        
      
      
        HPHT FINANCE 1 2.875% 11/05/24
        N/A
        HPHT FINANCE 19 LTD REGD REG S 2.87500000
        G2211BAA7
        
          
        
        4500000.00000000
        NS
        USD
        4738057.20000000
        0.609152271098
        Long
        DBT
        CORP
        HK
        N
        
        2
        
          2024-11-05
          Fixed
          2.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        T/L FIRST BRANDS 0% 3/19/2028
        N/A
        T/L FIRST BRANDS GROUP LLC     REGD 0.00000000
        N/A
        
          
        
        6606639.00000000
        NS
        USD
        6639672.20000000
        0.853634987771
        Long
        LON
        CORP
        US
        N
        
        2
        
          2028-03-19
          Variable
          9.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PNC FINANCIAL SERVI V/R /PERP/
        CFGNEKW0P8842LEUIA51
        PNC FINANCIAL SERVICES REGD V/R /PERP/ SER S 5.00000000
        693475AQ8
        
          
        
        717000.00000000
        NS
        USD
        800351.25000000
        0.102897825212
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2170-05-01
          Variable
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TACORA RESOURCE 8.25% 05/15/26
        549300L67A19OXSFBA84
        TACORA RESOURCES INC REGD 144A P/P 8.25000000
        87356LAA8
        
          
        
        6339000.00000000
        NS
        USD
        6576712.50000000
        0.845540521490
        Long
        DBT
        CORP
        CA
        Y
        
        2
        
          2026-05-15
          Fixed
          8.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        INDIAN OIL COR 5.625% 08/02/21
        N/A
        INDIAN OIL CORP LTD REGD 5.62500000
        Y3925YCV4
        
          
        
        2995000.00000000
        NS
        USD
        3021206.97000000
        0.388423991005
        Long
        DBT
        CORP
        IN
        N
        
        2
        
          2021-08-02
          Fixed
          5.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FANNIE MAE PREFERRED
        N/A
        FANNIE MAE PREFERRED 0.00000000
        313586752
        
          
        
        282641.00000000
        NS
        USD
        1800423.17000000
        0.231472904747
        Long
        EP
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        DAIRY FARMERS OF AMERICA /PFD/
        N/A
        DAILY FARMERS OF AMERICA      PREFERRED 0.00000000
        23385H406
        
          
        
        1000.00000000
        NS
        USD
        101500.00000000
        0.013049432057
        Long
        EP
        CORP
        US
        Y
        
        2
        
          N
          N
          N
        
      
      
        WELLS FARGO & COMPA V/R /PERP/
        PBLD0EJDB5FWOLXP3B76
        WELLS FARGO & COMPANY REGD V/R /PERP/ SER S 5.90000000
        949746RG8
        
          
        
        1505000.00000000
        NS
        USD
        1616370.00000000
        0.207809955615
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2169-12-15
          Variable
          5.90000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        REPUBLIC OF IN 3.375% 04/15/23
        N/A
        REPUBLIC OF INDONESIA REGD EMTN 3.37500000
        Y20721BD0
        
          
        
        300000.00000000
        NS
        USD
        315534.00000000
        0.040566891575
        Long
        DBT
        USGA
        ID
        N
        
        2
        
          2023-04-15
          Fixed
          3.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BANISTMO SA 3.65% 09/19/22
        N/A
        BANISTMO SA REGD 144A P/P 3.65000000
        06034LAA8
        
          
        
        300000.00000000
        NS
        USD
        306000.00000000
        0.039341144922
        Long
        DBT
        CORP
        PA
        Y
        
        2
        
          2022-09-19
          Fixed
          3.65000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BAIDU INC 3.5% 11/28/22
        254900AL64IANZYI1E02
        BAIDU INC REGD 3.50000000
        056752AB4
        
          
        
        1100000.00000000
        NS
        USD
        1144878.30000000
        0.147192232414
        Long
        DBT
        CORP
        CN
        N
        
        2
        
          2022-11-28
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AXIATA SPV2 BH 4.357% 03/24/26
        N/A
        AXIATA SPV2 BHD REGD REG S EMTN 4.35700000
        Y0488DAC9
        
          
        
        1250000.00000000
        NS
        USD
        1405450.00000000
        0.180692850102
        Long
        DBT
        CORP
        MY
        N
        
        2
        
          2026-03-24
          Fixed
          4.35700000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        WT PUR COM WT EX 31/12/2049
        N/A
        WT PUR COM EXP TRANCHE A  WARRANTS EXP 12/31/2049 0.00000000
        G5924V114
        
          
        
        502803.00000000
        NS
        USD
        5028.03000000
        0.000646432865
        N/A
        DE
        CORP
        BM
        N
        
        3
        
          
            
              WT PUR COM EXP TRANCHE A
              N/A
            
            Call
            Purchased
            
              
                WT PUR COM EXP TRANCHE A
                WT PUR COM EXP TRANCHE A
                
                  
                
              
            
            502803.00000000
            USD
            0.00000000
            USD
            2049-12-31
            XXXX
            5028.03000000
          
        
        
          N
          N
          N
        
      
      
        SINGTEL GROUP  2.375% 10/03/26
        N/A
        SINGTEL GROUP TREASURY REGD REG S EMTN 2.37500000
        Y7996PAK4
        
          
        
        2300000.00000000
        NS
        USD
        2423068.01000000
        0.311523757315
        Long
        DBT
        CORP
        SG
        N
        
        2
        
          2026-10-03
          Fixed
          2.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GETTY IMAGES IN 9.75% 03/01/27
        N/A
        GETTY IMAGES INC REGD 144A P/P 9.75000000
        374276AJ2
        
          
        
        412000.00000000
        NS
        USD
        439810.00000000
        0.056544539046
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2027-03-01
          Fixed
          9.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SEMPRA ENERGY V/R /PERP/
        PBBKGKLRK5S5C0Y4T545
        SEMPRA ENERGY REGD V/R /PERP/ 4.87500000
        816851BK4
        
          
        
        410000.00000000
        NS
        USD
        444850.00000000
        0.057192510845
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2169-10-15
          Variable
          4.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ENERGY HARBOR CORP
        5493003HK03UVPUSUP12
        ENERGY HARBOR CORP 0.00000000
        29279N102
        
          
        
        352.00000000
        NS
        USD
        11206.62000000
        0.001440788436
        Long
        EC
        CORP
        US
        N
        
        2
        
          N
          N
          N
        
      
      
        SPARC EM SPC PANA ZCP 12/05/22
        N/A
        SPARC EM SPC PANAMA METR REGD ZCP 144A P/P 0.00000000
        846502AC6
        
          
        
        1030036.59000000
        NS
        USD
        1014669.48000000
        0.130451826997
        Long
        DBT
        CORP
        KY
        
        Y
        
        2
        
          2022-12-05
          Fixed
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        NONGHYUP BANK 1.25% 07/20/25
        N/A
        NONGHYUP BANK REGD REG S EMTN 1.25000000
        65540KAD7
        
          
        
        2000000.00000000
        NS
        USD
        2004585.80000000
        0.257721243357
        Long
        DBT
        CORP
        KR
        N
        
        2
        
          2025-07-20
          Fixed
          1.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ISRAEL ELECTRI 6.875% 06/21/23
        N/A
        ISRAEL ELECTRIC CORP LTD REGD REG S 6.87500000
        46507NAE0
        
          
        
        500000.00000000
        NS
        USD
        558845.00000000
        0.071848372987
        Long
        DBT
        CORP
        IL
        N
        
        2
        
          2023-06-21
          Fixed
          6.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        DAIRY FARMERS OF 7.125% /PERP/
        1LTUIZEFFT7MUIERI838
        DAIRY FARMERS OF AMERICA REGD /PERP/ 144A P/P 7.12500000
        23385HAA7
        
          
        
        510000.00000000
        NS
        USD
        510000.00000000
        0.065568574870
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2169-12-01
          Fixed
          7.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BANCO DE CREDITO  V/R 07/01/30
        N/A
        BANCO DE CREDITO DEL PER REGD V/R REG S EMTN 3.12500000
        05971V2C8
        
          
        
        2050000.00000000
        NS
        USD
        2024395.50000000
        0.260268093940
        Long
        DBT
        CORP
        PE
        N
        
        2
        
          2030-07-01
          Variable
          3.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        UBER TECHNOLOGIES ZCP 12/15/25
        549300B2FTG34FILDR98
        UBER TECHNOLOGIES INC REGD ZCP 144A P/P CONVERTIBLE 0.00000000
        90353TAH3
        
          
        
        3164000.00000000
        NS
        USD
        3219370.00000000
        0.413900986042
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2025-12-15
          Fixed
          0.00000000
          N
          N
          N
          N
          N
          
            
              UBER TECHNOLOGIES INC
              UBER TECHNOLOGIES INC
              USD
              
                
              
            
          
          
            
          
          XXXX
        
        
          N
          N
          N
        
      
      
        CTO REALTY GRO 3.875% 04/15/25
        N/A
        CTO REALTY GROWTH INC REGD SER * CONVERTIBLE 3.87500000
        210226AD8
        
          
        
        2393000.00000000
        NS
        USD
        2454260.80000000
        0.315534084347
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2025-04-15
          Fixed
          3.87500000
          N
          N
          N
          N
          N
          
            
              CTO REALTY GROWTH INC
              CTO REALTY GROWTH INC
              USD
              
                
              
            
          
          
            
          
          XXXX
        
        
          N
          N
          N
        
      
      
        BANCO NACIONAL CO V/R 08/11/26
        N/A
        BANCO NACIONAL COM EXT REGD V/R REG S 3.80000000
        P14517AB5
        
          
        
        6300000.00000000
        NS
        USD
        6284313.00000000
        0.807947936180
        Long
        DBT
        CORP
        KY
        
        N
        
        2
        
          2026-08-11
          Variable
          3.80000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRAZOS ELECTRIC 0% 3/23/49
        N/A
        BRAZOS ELECTRIC POWER COOP     INC TRADE CLAIM MERCURIA       ENERGY 0.00000000
        N/A
        
          
        
        9959000.00000000
        NS
        USD
        8963100.00000000
        1.152348418479
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2049-03-23
          Fixed
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BAIDU INC 3.075% 04/07/25
        254900AL64IANZYI1E02
        BAIDU INC REGD 3.07500000
        056752AQ1
        
          
        
        650000.00000000
        NS
        USD
        686098.43000000
        0.088208816227
        Long
        DBT
        CORP
        CN
        N
        
        2
        
          2025-04-07
          Fixed
          3.07500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CENTERPOINT ENERGY  V/R /PERP/
        21TPXMRRHFKOBHDC8J74
        CENTERPOINT ENERGY INC REGD V/R /PERP/ SER A 6.12500000
        15189TAS6
        
          
        
        600000.00000000
        NS
        USD
        640500.00000000
        0.082346416087
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2170-03-01
          Variable
          6.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        KOREA ELECTRIC 1.125% 06/15/25
        N/A
        KOREA ELECTRIC POWER CO REGD REG S EMTN 1.12500000
        Y4907LAB8
        
          
        
        5300000.00000000
        NS
        USD
        5289119.15000000
        0.680000009779
        Long
        DBT
        USGA
        KR
        N
        
        2
        
          2025-06-15
          Fixed
          1.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        T/L MALLINCKRODT 0% 2/28/22
        N/A
        T/L MALLINCKRODT INTERNATIONAL  FINANCE S.A REGD 0.00000000
        L6232UAG2
        
          
        
        13867000.00000000
        NS
        USD
        13620028.73000000
        1.751070340246
        Long
        LON
        CORP
        LU
        
        N
        
        2
        
          2022-02-28
          Variable
          0.00000000
          Y
          N
          N
        
        
          N
          N
          N
        
      
      
        STATE GRID OVE 3.125% 05/22/23
        N/A
        STATE GRID OVERSEAS INV REGD 3.12500000
        G8449VAB2
        
          
        
        1783000.00000000
        NS
        USD
        1866192.71000000
        0.239928620449
        Long
        DBT
        CORP
        VG
        
        N
        
        2
        
          2023-05-22
          Fixed
          3.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        STATE GRID OVERSEA 1% 08/05/25
        N/A
        STATE GRID OVERSEAS INV REGD REG S EMTN 1.00000000
        G8450LAX2
        
          
        
        500000.00000000
        NS
        USD
        488611.07000000
        0.062818689266
        Long
        DBT
        CORP
        VG
        
        N
        
        2
        
          2025-08-05
          Fixed
          1.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        99 ESCROW ISSUER 7.5% 01/15/26
        N/A
        99 ESCROW ISSUER INC REGD 144A P/P 7.50000000
        65442QAA9
        
          
        
        8762000.00000000
        NS
        USD
        8280090.00000000
        1.064536668827
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2026-01-15
          Fixed
          7.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        NUSTAR ENERGY LP SER B /PFD/
        N/A
        NUSTAR ENERGY LP SER B        /PREFERRED/ 0.00000000
        67058H300
        
          
        
        49161.00000000
        NS
        USD
        1030414.56000000
        0.132476106324
        Long
        EP
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        DBS GROUP HOLDING V/R 03/10/31
        5493007FKT78NKPM5V55
        DBS GROUP HOLDINGS LTD REGD V/R REG S EMTN SER GMTN 1.82200000
        Y20246J57
        
          
        
        700000.00000000
        NS
        USD
        699132.00000000
        0.089884488012
        Long
        DBT
        CORP
        SG
        N
        
        2
        
          2031-03-10
          Variable
          1.82200000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ENBRIDGE INC V/R 07/15/80
        98TPTUM4IVMFCZBCUR27
        ENBRIDGE INC REGD V/R SER 20-A 5.75000000
        29250NBC8
        
          
        
        735000.00000000
        NS
        USD
        806662.50000000
        0.103709236326
        Long
        DBT
        CORP
        CA
        N
        
        2
        
          2080-07-15
          Variable
          5.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LLOYDS BANKING GROU V/R /PERP/
        549300PPXHEU2JF0AM85
        LLOYDS BANKING GROUP PLC REGD V/R /PERP/ 7.50000000
        539439AU3
        
          
        
        1480000.00000000
        NS
        USD
        1714017.60000000
        0.220364100657
        Long
        DBT
        CORP
        GB
        N
        
        2
        
          2169-12-27
          Variable
          7.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SCOTIABANK PERU S V/R 12/13/27
        N/A
        SCOTIABANK PERU SA REGD V/R 4.50000000
        P8542TAP2
        
          
        
        150000.00000000
        NS
        USD
        150001.50000000
        0.019285067810
        Long
        DBT
        CORP
        PE
        N
        
        2
        
          2027-12-13
          Variable
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        VNV GLOBAL 5.75% 10/04/22/SEK/
        549300ONMNSTOBAU0S14
        VNV GLOBAL AB /SEK/ REGD REG S 5.75000000
        W98223AA3
        
          
        
        3750000.00000000
        NS
        
        466288.80000000
        0.059948808027
        Long
        DBT
        CORP
        SE
        N
        
        2
        
          2022-10-04
          Fixed
          5.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        INTERCURE LTD
        549300KI5ESXF8F5GP06
        INTERCURE LTD 0.00000000
        M549GJ103
        
          
        
        776733.00000000
        NS
        USD
        6066284.73000000
        0.779916950013
        Long
        EC
        CORP
        IL
        N
        
        2
        
          N
          N
          N
        
      
      
        OMNICHANNEL ACQUISITION-CL A
        N/A
        OMNICHANNEL ACQUISITION-CL A 0.00000000
        68218L108
        
          
        
        466079.00000000
        NS
        USD
        4562913.41000000
        0.586634763828
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        FENIX POWER PE 4.317% 09/20/27
        N/A
        FENIX POWER PERU SA REGD REG S 4.31700000
        P40070AB3
        
          
        
        3490147.06000000
        NS
        USD
        3533773.90000000
        0.454322585369
        Long
        DBT
        CORP
        PE
        N
        
        2
        
          2027-09-20
          Fixed
          4.31700000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SPARC EM SPC PANA ZCP 12/05/22
        N/A
        SPARC EM SPC PANAMA METR REGD ZCP REG S 0.00000000
        G83113AC7
        
          
        
        1702164.87000000
        NS
        USD
        1676770.29000000
        0.215575369217
        Long
        DBT
        CORP
        KY
        
        N
        
        2
        
          2022-12-05
          Fixed
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        DEUTSCHE BANK AG V/R /PERP/
        7LTWFZYICNSX8D621K86
        DEUTSCHE BANK AG REGD V/R /PERP/ SER # 6.00000000
        251525AX9
        
          
        
        800000.00000000
        NS
        USD
        840000.00000000
        0.107995299787
        Long
        DBT
        CORP
        DE
        N
        
        2
        
          2170-04-30
          Variable
          6.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        REPUBLIC OF PANAMA 4% 09/22/24
        N/A
        REPUBLIC OF PANAMA REGD 4.00000000
        698299BD5
        
          
        
        4300000.00000000
        NS
        USD
        4670918.00000000
        0.600520463918
        Long
        DBT
        USGA
        PA
        N
        
        2
        
          2024-09-22
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        EMPOWERMENT & INCLUSION CAPI
        N/A
        EMPOWERMENT & INCLUSION CAPI 0.00000000
        29248N209
        
          
        
        24408.00000000
        NS
        USD
        241395.12000000
        0.031035164704
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        TELEFONICA CHI 3.875% 10/12/22
        N/A
        TELEFONICA CHILE SA REGD 3.87500000
        P9047EAA6
        
          
        
        6000000.00000000
        NS
        USD
        6214800.00000000
        0.799010939425
        Long
        DBT
        CORP
        CL
        N
        
        2
        
          2022-10-12
          Fixed
          3.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BANK OF AMERICA COR V/R /PERP/
        9DJT3UXIJIZJI4WXO774
        BANK OF AMERICA CORP REGD V/R /PERP/ SER DD 6.30000000
        060505EU4
        
          
        
        1350000.00000000
        NS
        USD
        1566405.00000000
        0.201386163765
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2169-09-10
          Variable
          6.30000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        EMPRESA ELECTR 4.875% 05/25/29
        N/A
        EMPRESA ELECTRICA ANGAMO REGD 4.87500000
        P3713QAA5
        
          
        
        836686.50000000
        NS
        USD
        836686.50000000
        0.107569296899
        Long
        DBT
        CORP
        CL
        N
        
        2
        
          2029-05-25
          Fixed
          4.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        WAKALA GLOBAL  4.646% 07/06/21
        N/A
        WAKALA GLOBAL SUKUK BHD REGD REG S 4.64600000
        Y9485PAB8
        
          
        
        1000000.00000000
        NS
        USD
        1003640.00000000
        0.129033812712
        Long
        DBT
        CORP
        MY
        N
        
        2
        
          2021-07-06
          Fixed
          4.64600000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        WINTRUST FINANCIAL CORP /PFD/
        N/A
        WINTRUST FINANCIAL CORP       /PREFERRED/ 0.00000000
        97650W504
        
          
        
        6536.00000000
        NS
        USD
        185883.84000000
        0.023898310745
        Long
        EP
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        BAIDU INC 3.875% 09/29/23
        254900AL64IANZYI1E02
        BAIDU INC REGD 3.87500000
        056752AK4
        
          
        
        2400000.00000000
        NS
        USD
        2555497.66000000
        0.328549685591
        Long
        DBT
        CORP
        CN
        N
        
        2
        
          2023-09-29
          Fixed
          3.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SAUDI ARABIAN O 1.25% 11/24/23
        N/A
        SAUDI ARABIAN OIL CO REGD 144A P/P 1.25000000
        80414L2G9
        
          
        
        300000.00000000
        NS
        USD
        303775.40000000
        0.039055137370
        Long
        DBT
        CORP
        SA
        Y
        
        2
        
          2023-11-24
          Fixed
          1.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        HAMILTON LANE ALL-CLASS A
        N/A
        HAMILTON LANE ALL-CLASS A 0.00000000
        40749M103
        
          
        
        50095.00000000
        NS
        USD
        487424.35000000
        0.062666117621
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        BGP ACQUISITION CORP-A
        N/A
        BGP ACQUISITION CORP-A 0.00000000
        08862W109
        
          
        
        158308.00000000
        NS
        USD
        1496010.60000000
        0.192335849085
        Long
        EC
        CORP
        CA
        N
        
        2
        
          N
          N
          N
        
      
      
        PARTNERRE FINANCE V/R 10/01/50
        N/A
        PARTNERRE FINANCE B LLC REGD V/R 4.50000000
        70213BAC5
        
          
        
        195000.00000000
        NS
        USD
        199876.84000000
        0.025697332448
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2050-10-01
          Variable
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        DHB CAPITAL CORP
        N/A
        DHB CAPITAL CORP 0.00000000
        23291W208
        
          
        
        7769.00000000
        NS
        USD
        77379.24000000
        0.009948326453
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        AES GENER SA V/R 03/26/79
        N/A
        AES GENER SA REGD V/R REG S 7.12500000
        P0607LAC7
        
          
        
        1000000.00000000
        NS
        USD
        1064000.00000000
        0.136794046397
        Long
        DBT
        CORP
        CL
        N
        
        2
        
          2079-03-26
          Variable
          7.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MALAYSIA SOVER 3.043% 04/22/25
        N/A
        MALAYSIA SOVEREIGN SUKUK REG S 3.04300000
        Y5749LAA9
        
          
        
        1200000.00000000
        NS
        USD
        1290555.89000000
        0.165921393134
        Long
        DBT
        CORP
        MY
        N
        
        2
        
          2025-04-22
          Fixed
          3.04300000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ASSURANT INC V/R 03/27/48
        H3F39CAXWQRVWURFXL38
        ASSURANT INC REGD V/R 7.00000000
        04621XAK4
        
          
        
        1100000.00000000
        NS
        USD
        1264309.50000000
        0.162547004138
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2048-03-27
          Variable
          7.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MERCELL HOLD V/R 12/08/25/SEK/
        549300WJMIWDD8XDHN64
        MERCELL HOLDING AS /SEK/ REGD V/R 6.00000000
        R4S40MAD8
        
          
        
        4900000.00000000
        NS
        
        605704.93000000
        0.077872958926
        Long
        DBT
        CORP
        NO
        N
        
        2
        
          2025-12-08
          Variable
          6.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        DONNELLEY FINAN 8.25% 10/15/24
        549300O1NPY4J56QCU04
        DONNELLEY FINANCIAL SOL REGD SER WI 8.25000000
        25787GAC4
        
          
        
        1321000.00000000
        NS
        USD
        1373840.00000000
        0.176628884118
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2024-10-15
          Fixed
          8.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CF ACQUISITION CORP VI
        N/A
        CF ACQUISITION CORP VI 0.00000000
        12521J202
        
          
        
        48740.00000000
        NS
        USD
        485450.40000000
        0.062412335095
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        GRUPO AVAL LTD 4.75% 09/26/22
        N/A
        GRUPO AVAL LTD REGD 4.75000000
        G42045AB3
        
          
        
        2898000.00000000
        NS
        USD
        2995836.48000000
        0.385162212822
        Long
        DBT
        CORP
        KY
        
        N
        
        2
        
          2022-09-26
          Fixed
          4.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MALAYAN BANKING B V/R 10/29/26
        5493004OT3TOY404V310
        MALAYAN BANKING BHD REGD V/R REG S 3.90500000
        Y54561BN7
        
          
        
        1715000.00000000
        NS
        USD
        1732115.70000000
        0.222690897961
        Long
        DBT
        CORP
        MY
        N
        
        2
        
          2026-10-29
          Variable
          3.90500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        DBS GROUP HOLDING V/R 12/11/28
        5493007FKT78NKPM5V55
        DBS GROUP HOLDINGS LTD REGD V/R REG S EMTN 4.52000000
        24023NAA0
        
          
        
        500000.00000000
        NS
        USD
        540534.81000000
        0.069494308156
        Long
        DBT
        CORP
        SG
        N
        
        2
        
          2028-12-11
          Variable
          4.52000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ADANI PORTS AN 3.375% 07/24/24
        335800QOAXP5TM7OYP69
        ADANI PORTS AND SPECIAL REGD REG S 3.37500000
        Y00130RW9
        
          
        
        900000.00000000
        NS
        USD
        943994.69000000
        0.121365463742
        Long
        DBT
        CORP
        IN
        N
        
        2
        
          2024-07-24
          Fixed
          3.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BANCO DE CREDITO  V/R 09/30/31
        N/A
        BANCO DE CREDITO DEL PER REGD V/R 144A P/P 3.25000000
        05971U2D8
        
          
        
        2800000.00000000
        NS
        USD
        2746800.00000000
        0.353144630304
        Long
        DBT
        CORP
        PE
        Y
        
        2
        
          2031-09-30
          Variable
          3.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        POSCO 2.375% 11/12/22
        988400E5HRVX81AYLM04
        POSCO REGD REG S 2.37500000
        Y70750BT3
        
          
        
        2000000.00000000
        NS
        USD
        2044260.00000000
        0.262821989932
        Long
        DBT
        CORP
        KR
        N
        
        2
        
          2022-11-12
          Fixed
          2.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TNB GLOBAL VEN 3.244% 10/19/26
        N/A
        TNB GLOBAL VENTURES CAP REGD REG S EMTN 3.24400000
        Y8850AAA2
        
          
        
        6700000.00000000
        NS
        USD
        7134249.98000000
        0.917220792079
        Long
        DBT
        CORP
        MY
        N
        
        2
        
          2026-10-19
          Fixed
          3.24400000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BOREALIS FINANCE 7.5% 11/16/23
        N/A
        BOREALIS FINANCE LLC REGD 144A P/P 7.50000000
        09972AAA0
        
          
        
        1837000.00000000
        NS
        USD
        1878332.50000000
        0.241489382663
        Long
        DBT
        CORP
        MH
        
        Y
        
        2
        
          2023-11-16
          Fixed
          7.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        INTEROCEANICA 0% 11/30/25
        N/A
        INTEROCEANICA IV FINANCE      SERIES REGS REGD ZCP 0.00000000
        P52715AB8
        
          
        
        416391.20000000
        NS
        USD
        391303.63000000
        0.050308277178
        Long
        DBT
        CORP
        KY
        N
        
        2
        
          2025-11-30
          Fixed
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MINEJESA CAPIT 4.625% 08/10/30
        N/A
        MINEJESA CAPITAL BV REGD REG S 4.62500000
        N57445AA1
        
          
        
        3000000.00000000
        NS
        USD
        3121500.00000000
        0.401318247959
        Long
        DBT
        CORP
        NL
        
        N
        
        2
        
          2030-08-10
          Fixed
          4.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        POSCO 2.75% 07/15/24
        988400E5HRVX81AYLM04
        POSCO REGD REG S 2.75000000
        Y70750BL0
        
          
        
        700000.00000000
        NS
        USD
        737752.21000000
        0.094849727485
        Long
        DBT
        CORP
        KR
        N
        
        2
        
          2024-07-15
          Fixed
          2.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        UPHEALTH 6.25 3/15/2026
        N/A
        UPHEALTH CONVERTIBLE REGD 6.25000000
        N/A
        
          
        
        8201000.00000000
        NS
        USD
        0.00000000
        0.000000
        Long
        DBT
        CORP
        US
        N
        
        3
        
          2026-03-15
          Fixed
          6.25000000
          N
          N
          N
          N
          N
          
            
              UPHEALTH CONVERTIBLE
              UPHEALTH CONVERTIBLE
              USD
              
                
              
            
          
          
            
          
          XXXX
        
        
          N
          N
          N
        
      
      
        TENCENT HOLDING 1.81% 01/26/26
        254900N4SLUMW4XUYY11
        TENCENT HOLDINGS LTD REGD 144A P/P MTN 1.81000000
        88032WAT3
        
          
        
        3500000.00000000
        NS
        USD
        3563019.29000000
        0.458082543299
        Long
        DBT
        CORP
        CN
        Y
        
        2
        
          2026-01-26
          Fixed
          1.81000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        T/L ABB CON-CISE 0% 06/15/23
        N/A
        T/L ABB CON-CISE OPTICAL GROUP LLC REGD 0.00000000
        00037PAM3
        
          
        
        423772.65000000
        NS
        USD
        406821.74000000
        0.052303375918
        Long
        LON
        CORP
        US
        N
        
        2
        
          2023-06-15
          Variable
          6.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ONE EQUITY PARTNERS OPEN-A
        N/A
        ONE EQUITY PARTNERS OPEN-A 0.00000000
        68237L105
        
          
        
        50040.00000000
        NS
        USD
        482385.60000000
        0.062018306529
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        TS INNOVATION ACQUIS-CLA /REST
        N/A
        TS INNOVATION ACQUIS-CLASS A   /RESTRICTED/ 0.00000000
        N/A
        
          
        
        126645.00000000
        NS
        USD
        0.00000000
        0.000000
        Long
        EC
        CORP
        US
        N
        
        3
        
          N
          N
          N
        
      
      
        SUPERIOR ENERGY SERVICES INC
        N/A
        SUPERIOR ENERGY SERVICES INC   NEW 0.00000000
        N/A
        
          
        
        146756.00000000
        NS
        USD
        4989704.00000000
        0.641505451582
        Long
        EC
        CORP
        US
        N
        
        2
        
          N
          N
          N
        
      
      
        EMERA INC V/R 06/15/76
        NQZVQT2P5IUF2PGA1Q48
        EMERA INC REGD V/R SER 16-A 6.75000000
        290876AD3
        
          
        
        750000.00000000
        NS
        USD
        863107.50000000
        0.110966134775
        Long
        DBT
        CORP
        CA
        N
        
        2
        
          2076-06-15
          Variable
          6.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        T/L LEALAND FINA 0% 06/30/25
        N/A
        T/L LEALAND FINANCE COMPANY    B V REGD 0.00000000
        N5200EAB7
        
          
        
        4492842.30000000
        NS
        USD
        1963372.08000000
        0.252422567111
        Long
        LON
        CORP
        NL
        N
        
        2
        
          2025-06-30
          Variable
          4.09250000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SEVEN OAKS ACQUISITION COR-A
        N/A
        SEVEN OAKS ACQUISITION COR-A 0.00000000
        81787X106
        
          
        
        44738.00000000
        NS
        USD
        437090.26000000
        0.056194873408
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        VECTOR ACQUISITION CORP-A/REST
        N/A
        VECTOR ACQUISITION CORP-A      /RESTRICTED/ 0.00000000
        N/A
        
          
        
        246967.00000000
        NS
        USD
        0.00000000
        0.000000
        Long
        EC
        CORP
        US
        N
        
        3
        
          N
          N
          N
        
      
      
        Federated Investors, Inc.
        R05X5UQ874RGFF7HHD84
        Federated Government Obligations Fund
        608919718
        
          
        
        3452316.88000000
        OU
        N/A
        USD
        3452316.88000000
        0.443849995733
        Long
        STIV
        RF
        US
        N
        
        1
        
          
          N
          N
        
      
      
        DISCOVER FINANCIAL  V/R /PERP/
        Z1YLO2USPORE63VVUL20
        DISCOVER FINANCIAL SVS REGD V/R /PERP/ SER D 6.12500000
        254709AQ1
        
          
        
        390000.00000000
        NS
        USD
        438633.00000000
        0.056393217061
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2170-03-23
          Variable
          6.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CERBERUS TELECOM ACQUISIT/REST
        N/A
        CERBERUS TELECOM ACQUISIT-A    /RESTRICTED/ 0.00000000
        N/A
        
          
        
        60732.00000000
        NS
        USD
        0.00000000
        0.000000
        Long
        EC
        CORP
        US
        N
        
        3
        
          N
          N
          N
        
      
      
        ASSURED GUARANTY  V/R 12/15/66
        N/A
        ASSURED GUARANTY MUNI REGD V/R 6.40000000
        31769PAB6
        
          
        
        969000.00000000
        NS
        USD
        1025257.97000000
        0.131813145034
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2066-12-15
          Variable
          6.40000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PERUSAHAAN LISTR 5.5% 11/22/21
        N/A
        PERUSAHAAN LISTRIK NEGAR REGD 5.50000000
        71568QAA5
        
          
        
        1000000.00000000
        NS
        USD
        1021800.00000000
        0.131368568241
        Long
        DBT
        CORP
        ID
        N
        
        2
        
          2021-11-22
          Fixed
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        DELPHI FINANCIAL GROUP PFD
        N/A
        DELPHI FINANCIAL GROUP        PREFERRED 0.00000000
        247131303
        
          
        
        49000.00000000
        NS
        USD
        1090250.00000000
        0.140168899515
        Long
        EP
        CORP
        US
        N
        
        2
        
          N
          N
          N
        
      
      
        ENSTAR GROUP LTD /PFD/
        N/A
        ENSTAR GROUP LTD SER D        /PREFERRED/ 0.00000000
        29359U109
        
          
        
        19388.00000000
        NS
        USD
        555660.08000000
        0.071438901094
        Long
        EP
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        FREDDIE MAC /PFD/_
        N/A
        FREDDIE MAC /PREFERRED/ 0.00000000
        313400855
        
          
        
        221075.00000000
        NS
        USD
        2201907.00000000
        0.283090007819
        Long
        EP
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        BANCO RESERVAS REP 7% 02/01/23
        N/A
        BANCO RESERVAS REP DOMIN REGD REG S 7.00000000
        P10475AA2
        
          
        
        1100000.00000000
        NS
        USD
        1152261.00000000
        0.148141395390
        Long
        DBT
        CORP
        DO
        N
        
        2
        
          2023-02-01
          Fixed
          7.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AMERICAN INTL GRO V/R 04/01/48
        ODVCVCQG2BP6VHV36M30
        AMERICAN INTL GROUP REGD V/R SER A-9 5.75000000
        026874DM6
        
          
        
        395000.00000000
        NS
        USD
        447436.25000000
        0.057525014231
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2048-04-01
          Variable
          5.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GENERAL MOTORS FINL V/R /PERP/
        N/A
        GENERAL MOTORS FINL CO REGD V/R /PERP/ SER C 5.70000000
        37045XDB9
        
          
        
        280000.00000000
        NS
        USD
        313950.00000000
        0.040363243295
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2170-03-30
          Variable
          5.70000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GENESIS PARK ACQUISITION /REST
        N/A
        GENESIS PARK ACQUISITION       /RESTRICTED/ 0.00000000
        N/A
        
          
        
        238000.00000000
        NS
        USD
        0.00000000
        0.000000
        Long
        EC
        CORP
        US
        N
        
        3
        
          N
          N
          N
        
      
      
        PBF LOGISTICS  6.875% 05/15/23
        N/A
        PBF LOGISTICS LP/FINANCE REGD SER WI 6.87500000
        69318UAB1
        
          
        
        5420000.00000000
        NS
        USD
        5399675.00000000
        0.694213714736
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2023-05-15
          Fixed
          6.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FOMENTO ECONOM 2.875% 05/10/23
        549300A8MDWDJNMLV153
        FOMENTO ECONOMICO MEX REGD 2.87500000
        344419AA4
        
          
        
        350000.00000000
        NS
        USD
        363658.93000000
        0.046754113292
        Long
        DBT
        CORP
        MX
        N
        
        2
        
          2023-05-10
          Fixed
          2.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        T/L IEA ENERGY SER 0% 09/25/24
        N/A
        T/L IEA ENERGY SERVICES LLC    REGD 0.00000000
        44949EAJ0
        
          
        
        2777853.05000000
        NS
        USD
        2770908.42000000
        0.356244149405
        Long
        LON
        CORP
        US
        N
        
        2
        
          2024-09-25
          Variable
          6.95250000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GENERAL ELECTRIC CO V/R /PERP/
        3C7474T6CDKPR9K6YT90
        GENERAL ELECTRIC CO REGD V/R /PERP/ SER D 3.51388000
        369604BQ5
        
          
        
        845000.00000000
        NS
        USD
        812721.00000000
        0.104488152426
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2169-06-15
          Variable
          3.51388000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LINKEM SPA V/R 08/09/22/EUR/
        8156008F52B23E338F42
        LINKEM SPA /EUR/ REGD V/R 6.00000000
        N/A
        
          
        
        11340000.00000000
        NS
        
        13829821.36000000
        1.778042504496
        Long
        DBT
        CORP
        IT
        Y
        
        2
        
          2022-08-09
          Variable
          6.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TAILWIND INTL A WT EX 02/23/28
        N/A
        TAILWIND INTL ACQUISITION CORP  WARRANTS EXP 02/23/28 0.00000000
        G8662F119
        
          
        
        25384.00000000
        NS
        USD
        17009.82000000
        0.002186881678
        N/A
        DE
        CORP
        KY
        N
        
        1
        
          
            
              TAILWIND INTL ACQUISITION CORP
              N/A
            
            Call
            Purchased
            
              
                TAILWIND INTL ACQUISITION CORP
                TAILWIND INTL ACQUISITION CORP
                
                  
                
              
            
            25384.00000000
            USD
            0.00000000
            USD
            2028-02-23
            XXXX
            17009.82000000
          
        
        
          N
          N
          N
        
      
      
        VECTOR ACQUISITION CORP II-A
        N/A
        VECTOR ACQUISITION CORP II-A 0.00000000
        G9460A104
        
          
        
        372905.00000000
        NS
        USD
        3676843.30000000
        0.472716421969
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        VEDANTA RESOUR 6.125% 08/09/24
        N/A
        VEDANTA RESOURCES LTD REGD REG S 6.12500000
        G9328DAP5
        
          
        
        200000.00000000
        NS
        USD
        170600.00000000
        0.021933331123
        Long
        DBT
        CORP
        IN
        N
        
        2
        
          2024-08-09
          Fixed
          6.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        STATE OF QATAR 2.375% 06/02/21
        N/A
        STATE OF QATAR REGD REG S 2.37500000
        M8489SAB3
        
          
        
        2300000.00000000
        NS
        USD
        2300230.00000000
        0.295730986225
        Long
        DBT
        USGA
        QA
        N
        
        2
        
          2021-06-02
          Fixed
          2.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GOLDMAN SACHS GROUP V/R /PERP/
        784F5XWPLTWKTBV3E584
        GOLDMAN SACHS GROUP INC REGD V/R /PERP/ SER Q 5.50000000
        38148BAE8
        
          
        
        1444000.00000000
        NS
        USD
        1563130.00000000
        0.200965110662
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2170-02-10
          Variable
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FRESH MARKET IN 9.75% 05/01/23
        N/A
        FRESH MARKET INC REGD 144A P/P 9.75000000
        35804HAA4
        
          
        
        2083000.00000000
        NS
        USD
        2140824.08000000
        0.275236831322
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2023-05-01
          Fixed
          9.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        EDISON INTERNATIONA V/R /PERP/
        549300I7ROF15MAEVP56
        EDISON INTERNATIONAL REGD V/R /PERP/ SER A 5.37500000
        281020AS6
        
          
        
        425000.00000000
        NS
        USD
        429250.00000000
        0.055186883849
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2169-09-15
          Variable
          5.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TECH AND ENERGY TRANSITION
        N/A
        TECH AND ENERGY TRANSITION 0.00000000
        87823R201
        
          
        
        29889.00000000
        NS
        USD
        298890.00000000
        0.038427041849
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        AT HOME HOLDING 8.75% 09/01/25
        N/A
        AT HOME HOLDING III INC REGD 144A P/P 8.75000000
        046507AA7
        
          
        
        2541000.00000000
        NS
        USD
        2833215.00000000
        0.364254646769
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2025-09-01
          Fixed
          8.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        HUNTINGTON BANCSHAR V/R /PERP/
        549300XTVCVV9I7B5T19
        HUNTINGTON BANCSHARES REGD V/R /PERP/ SER F 5.62500000
        446150AT1
        
          
        
        1120000.00000000
        NS
        USD
        1300320.00000000
        0.167176724070
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2169-10-15
          Variable
          5.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        DIEBOLD NIXDORF  8.5% 04/15/24
        549300XZK6EWDBAZSY16
        DIEBOLD NIXDORF INC REGD SER WI 8.50000000
        253651AC7
        
          
        
        4268000.00000000
        NS
        USD
        4368554.08000000
        0.561646794650
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2024-04-15
          Fixed
          8.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        RXR ACQUISITION CORP
        N/A
        RXR ACQUISITION CORP 0.00000000
        74981W206
        
          
        
        13273.00000000
        NS
        USD
        132730.00000000
        0.017064543024
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        GIGCAPITAL4 INC
        549300XGCF2ELN28CS63
        GIGCAPITAL4 INC 0.00000000
        37518G200
        
          
        
        59455.00000000
        NS
        USD
        594550.00000000
        0.076438816057
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        TENNECO INC 5.125% 04/15/29
        549300U0EXXFAQFAD785
        TENNECO INC REGD 144A P/P 5.12500000
        880349AT2
        
          
        
        2958000.00000000
        NS
        USD
        2958000.00000000
        0.380297734250
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2029-04-15
          Fixed
          5.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        EUR/USD FWD 20210615 000000010 USD
        N/A
        
          
        
        1.00000000
        NC
        N/A
        -58093.52000000
        -0.00746884179
        N/A
        DFE
        
        N/A
        N
        
        2
        
          
            
              BROWN BROTHERS HARRIMAN AND CO
              5493006KMX1VFTPYPW14
            
            -19910000.00000000
            EUR
            24228080.80000000
            USD
            2021-06-15
            -58093.52000000
          
        
        
          N
          N
          N
        
      
      
        MAGELLAN MIDSTREAM PARTNERS
        MZF5TI8NFVZZNUSKDL39
        MAGELLAN MIDSTREAM PARTNERS 0.00000000
        559080106
        
          
        
        18600.00000000
        NS
        USD
        916794.00000000
        0.117868384372
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        NOBLE ROCK ACQUISITION CORP
        N/A
        NOBLE ROCK ACQUISITION CORP 0.00000000
        G6546R127
        
          
        
        17046.00000000
        NS
        USD
        169437.24000000
        0.021783839915
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        BANCO CONTINENT 2.75% 12/10/25
        N/A
        BANCO CONTINENTAL S.A.E. REGD 144A P/P 2.75000000
        059490AB8
        
          
        
        950000.00000000
        NS
        USD
        931959.50000000
        0.119818149514
        Long
        DBT
        CORP
        PY
        Y
        
        2
        
          2025-12-10
          Fixed
          2.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BBVA COLOMBIA  4.875% 04/21/25
        N/A
        BBVA COLOMBIA SA REGD 4.87500000
        P1024TAN9
        
          
        
        400000.00000000
        NS
        USD
        418004.00000000
        0.053741032490
        Long
        DBT
        CORP
        CO
        N
        
        2
        
          2025-04-21
          Fixed
          4.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ANZU SPECIAL ACQUISITION COR
        N/A
        ANZU SPECIAL ACQUISITION COR 0.00000000
        03737A200
        
          
        
        45350.00000000
        NS
        USD
        448965.00000000
        0.057721559248
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        ABU DHABI GOVT I 2.5% 04/16/25
        N/A
        ABU DHABI GOVT INT'L REGD 144A P/P MTN 2.50000000
        29135LAG5
        
          
        
        1600000.00000000
        NS
        USD
        1696000.00000000
        0.218047652903
        Long
        DBT
        USGA
        AE
        Y
        
        2
        
          2025-04-16
          Fixed
          2.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TAILWIND TWO WT EX 03/09/28
        N/A
        TAILWIND TWO ACQUISITION CORP_  WARRANTS EXP 03/09/28 0.00000000
        G86613125
        
          
        
        24657.00000000
        NS
        USD
        17506.47000000
        0.002250733899
        N/A
        DE
        CORP
        KY
        N
        
        1
        
          
            
              TAILWIND TWO ACQUISITION CORP_ 
              N/A
            
            Call
            Purchased
            
              
                TAILWIND TWO ACQUISITION CORP_ 
                TAILWIND TWO ACQUISITION CORP_ 
                
                  
                
              
            
            24657.00000000
            USD
            0.00000000
            USD
            2028-03-09
            XXXX
            17506.47000000
          
        
        
          N
          N
          N
        
      
      
        BARRICK GOLD CORP
        0O4KBQCJZX82UKGCBV73
        BARRICK GOLD CORP 0.00000000
        067901108
        
          
        
        44400.00000000
        NS
        USD
        1069152.00000000
        0.137456417569
        Long
        EC
        CORP
        CA
        N
        
        1
        
          N
          N
          N
        
      
      
        SINGTEL GROUP T 3.25% 06/30/25
        N/A
        SINGTEL GROUP TREASURY P REGD REG S EMTN 3.25000000
        Y7996PAH1
        
          
        
        1200000.00000000
        NS
        USD
        1289551.58000000
        0.165792273182
        Long
        DBT
        CORP
        SG
        N
        
        2
        
          2025-06-30
          Fixed
          3.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SVB FINANCIAL GROUP V/R /PERP/
        549300D2KJ20JMXE7542
        SVB FINANCIAL GROUP REGD V/R /PERP/ 4.10000000
        78486QAG6
        
          
        
        415000.00000000
        NS
        USD
        414481.25000000
        0.053288127202
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2170-05-15
          Variable
          4.10000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        KOREA DEVELOPME 1.25% 06/03/25
        N/A
        KOREA DEVELOPMENT BANK REGD REG S 1.25000000
        Y4S21XSG3
        
          
        
        300000.00000000
        NS
        USD
        303231.62000000
        0.038985225841
        Long
        DBT
        USGA
        KR
        N
        
        2
        
          2025-06-03
          Fixed
          1.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CRESTWOOD EQUITY PARTNERS LP
        549300CUY0F1TYDLDL45
        CRESTWOOD EQUITY PARTNERS LP 0.00000000
        226344208
        
          
        
        -31594.00000000
        NS
        USD
        -905484.04000000
        -0.11641430994
        Short
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        ISHARES IBOXX HIGH YLD CORP
        N/A
        ISHARES IBOXX HIGH YIELD CORPORATE BOND ETF  ETF 0.00000000
        464288513
        
          
        
        -94084.00000000
        NS
        USD
        -8202243.12000000
        -1.05452821984
        Short
        EC
        PF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        M&T BANK CORPORATIO V/R /PERP/
        549300WYXDDBYRASEG81
        M&T BANK CORPORATION REGD V/R /PERP/ SER F 5.12500000
        55261FAH7
        
          
        
        500000.00000000
        NS
        USD
        548750.00000000
        0.070550500902
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2170-05-01
          Variable
          5.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BGP ACQUISITION C WRT 12/31/27
        N/A
        BGP ACQUISITION CORP WARRANT__  EXPIRES 12/31/27_ 0.00000000
        08862W117
        
          
        
        79154.00000000
        NS
        USD
        64906.28000000
        0.008344729960
        N/A
        DE
        CORP
        CA
        N
        
        1
        
          
            
              BGP ACQUISITION CORP
              N/A
            
            Call
            Purchased
            
              
                BGP ACQUISITION CORP
                BGP ACQUISITION CORP
                
                  
                
              
            
            79154.00000000
            USD
            0.00000000
            USD
            2027-12-31
            XXXX
            64906.28000000
          
        
        
          N
          N
          N
        
      
      
        ATLANTIC AVENUE ACQUISI-CL A
        N/A
        ATLANTIC AVENUE ACQUISI-CL A 0.00000000
        04906P101
        
          
        
        241887.00000000
        NS
        USD
        2346303.90000000
        0.301654515562
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        HAMILTON LANE ALLI WTS 1/15/25
        N/A
        HAMILTON LANE ALLIANCE HLDGS I  WARRANT EXP 1/15/25 0.00000000
        40749M111
        
          
        
        16698.00000000
        NS
        USD
        11356.31000000
        0.001460033455
        N/A
        DE
        CORP
        US
        N
        
        1
        
          
            
              HAMILTON LANE ALLIANCE HLDGS I
              N/A
            
            Call
            Purchased
            
              
                HAMILTON LANE ALLIANCE HLDGS I
                HAMILTON LANE ALLIANCE HLDGS I
                
                  
                
              
            
            16698.00000000
            USD
            0.00000000
            USD
            2025-01-15
            XXXX
            11356.31000000
          
        
        
          N
          N
          N
        
      
      
        ITAU UNIBANCO HLD V/R 04/15/31
        N/A
        ITAU UNIBANCO HLDG SA/KY REGD V/R REG S 3.87500000
        46556M2A9
        
          
        
        3900000.00000000
        NS
        USD
        3894930.00000000
        0.500754920238
        Long
        DBT
        CORP
        KY
        
        N
        
        2
        
          2031-04-15
          Variable
          3.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        STATE OF QATAR 4.5% 01/20/22
        N/A
        STATE OF QATAR REGD REG S 4.50000000
        M81805AT6
        
          
        
        900000.00000000
        NS
        USD
        924300.00000000
        0.118833399515
        Long
        DBT
        USGA
        QA
        N
        
        2
        
          2022-01-20
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CREDICORP LTD 2.75% 06/17/25
        529900UYAEYQCQ2BKB17
        CREDICORP LTD REGD 144A P/P 2.75000000
        22530EAA0
        
          
        
        600000.00000000
        NS
        USD
        600900.00000000
        0.077255209097
        Long
        DBT
        CORP
        PE
        Y
        
        2
        
          2025-06-17
          Fixed
          2.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MRT MID PART/MRT  10% 02/29/24
        N/A
        MRT MID PART/MRT MID FIN REGD P/P 10.00000000
        573334AF6
        
          
        
        7118576.00000000
        NS
        USD
        7367726.16000000
        0.947237851665
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2024-02-29
          Fixed
          10.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BDO UNIBANK INC 2.95% 03/06/23
        3FGIIBS1PEI1FYQBGN97
        BDO UNIBANK INC REGD REG S EMTN 2.95000000
        Y07775AA0
        
          
        
        3000000.00000000
        NS
        USD
        3105300.00000000
        0.399235481463
        Long
        DBT
        CORP
        PH
        N
        
        2
        
          2023-03-06
          Fixed
          2.95000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SAUDI INTERNAT 2.375% 10/26/21
        N/A
        SAUDI INTERNATIONAL BOND REGD REG S EMTN 2.37500000
        M6320UAB5
        
          
        
        3500000.00000000
        NS
        USD
        3527300.00000000
        0.453490263023
        Long
        DBT
        USGA
        SA
        N
        
        2
        
          2021-10-26
          Fixed
          2.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SBL HOLDINGS INC V/R /PERP/
        N/A
        SBL HOLDINGS INC REGD V/R /PERP/ 144A P/P 7.00000000
        78397DAA6
        
          
        
        845000.00000000
        NS
        USD
        852393.75000000
        0.109588712580
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2170-05-13
          Variable
          7.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BANISTMO SA 3.65% 09/19/22
        N/A
        BANISTMO SA REGD REG S 3.65000000
        P15383AC9
        
          
        
        2200000.00000000
        NS
        USD
        2244000.00000000
        0.288501729431
        Long
        DBT
        CORP
        PA
        N
        
        2
        
          2022-09-19
          Fixed
          3.65000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TAILWIND INTERNATIONAL ACQ-A
        N/A
        TAILWIND INTERNATIONAL ACQ-A 0.00000000
        G8662F101
        
          
        
        76153.00000000
        NS
        USD
        738684.10000000
        0.094969536699
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        OAKTREE ACQ CORP II - CL A
        N/A
        OAKTREE ACQ CORP II - CL A 0.00000000
        G6715X103
        
          
        
        68164.00000000
        NS
        USD
        665962.28000000
        0.085619995328
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        DIAMOND SPORTS 12.75% 12/01/26
        N/A
        DIAMOND SPORTS GR/DIAMON REGD P/P 12.75000000
        25277LAE6
        
          
        
        2127000.00000000
        NS
        USD
        1807950.00000000
        0.232440597917
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2026-12-01
          Fixed
          12.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        COBANK ACB /PFD/
        N/A
        COBANK ACB SERIES F           /PREFERRED/ 0.00000000
        19075Q805
        
          
        
        3290.00000000
        NS
        USD
        342160.00000000
        0.043990085446
        Long
        EP
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        JACKTEL 10% 12/04/23
        N/A
        JACKTEL REGD SER USD 10.00000000
        R35277AB9
        
          
        
        2255000.00000000
        NS
        USD
        451000.00000000
        0.057983190719
        Long
        DBT
        CORP
        NO
        Y
        
        2
        
          2023-12-04
          Fixed
          10.00000000
          N
          N
          Y
        
        
          N
          N
          N
        
      
      
        DIGICEL GROUP HOLDIN 7% /PERP/
        N/A
        DIGICEL GROUP HOLDINGS REGD /PERP/ 144A P/P CONVERTIBLE 7.00000000
        25381YAC5
        
          
        
        61489.00000000
        NS
        USD
        46116.75000000
        0.005929038382
        Long
        DBT
        CORP
        JM
        Y
        
        2
        
          2169-10-01
          Fixed
          7.00000000
          N
          N
          Y
          N
          N
          
            
              DIGICEL GROUP HOLDINGS
              DIGICEL GROUP HOLDINGS
              USD
              
                
              
            
          
          
            
          
          XXXX
        
        
          N
          N
          N
        
      
      
        COLBUN SA 4.5% 07/10/24
        5493003VQJLE2QB8IF36
        COLBUN SA REGD 4.50000000
        P2867KAE6
        
          
        
        400000.00000000
        NS
        USD
        432004.00000000
        0.055540954153
        Long
        DBT
        CORP
        CL
        N
        
        2
        
          2024-07-10
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        DBS GROUP HOLDI 2.85% 04/16/22
        5493007FKT78NKPM5V55
        DBS GROUP HOLDINGS LTD REGD REG S EMTN 2.85000000
        24023LAE6
        
          
        
        500000.00000000
        NS
        USD
        510759.94000000
        0.065666277190
        Long
        DBT
        CORP
        SG
        N
        
        2
        
          2022-04-16
          Fixed
          2.85000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        DELL INT LLC / 7.125% 06/15/24
        N/A
        DELL INT LLC / EMC CORP REGD 144A P/P 7.12500000
        25272KAW3
        
          
        
        5255000.00000000
        NS
        USD
        5360100.00000000
        0.689125721892
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2024-06-15
          Fixed
          7.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        INTESA SANPAOLO SPA V/R /PERP/
        2W8N8UU78PMDQKZENC08
        INTESA SANPAOLO SPA REGD V/R /PERP/ MTN 7.70000000
        46115HAU1
        
          
        
        365000.00000000
        NS
        USD
        416100.00000000
        0.053496243144
        Long
        DBT
        CORP
        IT
        Y
        
        2
        
          2170-03-17
          Variable
          7.70000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        OVERSEA-CHINESE B V/R 09/10/30
        5493007O3QFXCPOGWK22
        OVERSEA-CHINESE BANKING REGD V/R REG S 1.83200000
        69033DAD9
        
          
        
        4400000.00000000
        NS
        USD
        4407040.00000000
        0.566594769016
        Long
        DBT
        CORP
        SG
        N
        
        2
        
          2030-09-10
          Variable
          1.83200000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        HUNT COS INC 5.25% 04/15/29
        549300ODPWDNCH5TKM49
        HUNT COS INC REGD 144A P/P 5.25000000
        445587AE8
        
          
        
        9910000.00000000
        NS
        USD
        9535203.80000000
        1.225901420134
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2029-04-15
          Fixed
          5.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        DIGICEL GROUP HOLD 8% 04/01/25
        N/A
        DIGICEL GROUP HOLDINGS REGD 144A P/P 8.00000000
        25381YAB7
        
          
        
        374051.00000000
        NS
        USD
        315137.97000000
        0.040515975648
        Long
        DBT
        CORP
        JM
        Y
        
        2
        
          2025-04-01
          Fixed
          8.00000000
          N
          N
          Y
        
        
          N
          N
          N
        
      
      
        TAILWIND TWO ACQUISITION-A
        N/A
        TAILWIND TWO ACQUISITION-A 0.00000000
        G86613109
        
          
        
        73971.00000000
        NS
        USD
        720477.54000000
        0.092628795145
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        T/L PIXELLE SPECI 0% 10/31/24
        N/A
        T/L PIXELLE SPECIALTY          SOLUTIONS LLC REGD 0.00000000
        72582PAB5
        
          
        
        4985386.35000000
        NS
        USD
        4965644.22000000
        0.638412185923
        Long
        LON
        CORP
        US
        N
        
        2
        
          2024-10-31
          Variable
          7.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ALLY FINANCIAL INC V/R /PERP/
        549300JBN1OSM8YNAI90
        ALLY FINANCIAL INC REGD V/R /PERP/ SER B 4.70000000
        02005NBM1
        
          
        
        645000.00000000
        NS
        USD
        662737.50000000
        0.085205398800
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2169-08-15
          Variable
          4.70000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        KT CORP 1% 09/01/25
        9884005ACF8449EANY26
        KT CORP REGD REG S 1.00000000
        Y4S88QDU3
        
          
        
        7300000.00000000
        NS
        USD
        7247088.07000000
        0.931727915123
        Long
        DBT
        CORP
        KR
        N
        
        2
        
          2025-09-01
          Fixed
          1.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        C&W SENIOR FINAN 7.5% 10/15/26
        5493009O8OIWZPZRY516
        C&W SENIOR FINANCING DAC REGD REG S 7.50000000
        G3165UAB7
        
          
        
        1400000.00000000
        NS
        USD
        1470000.00000000
        0.188991774627
        Long
        DBT
        CORP
        IE
        
        N
        
        2
        
          2026-10-15
          Fixed
          7.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        T/L THE HERTZ CORP 0% 12/31/21
        N/A
        T/L THE HERTZ CORPORATION REGD 0.00000000
        42804VAW1
        
          
        
        5560878.00000000
        NS
        USD
        5569219.32000000
        0.716011321481
        Long
        LON
        CORP
        US
        N
        
        2
        
          2021-12-31
          Variable
          6.47727270
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MCKESSON CORP 3.95% 02/16/28
        549300WZWOM80UCFSF54
        MCKESSON CORP REGD 3.95000000
        581557BJ3
        
          
        
        -840000.00000000
        NS
        USD
        -946900.21000000
        -0.12173901434
        Short
        DBT
        CORP
        US
        N
        
        2
        
          2028-02-16
          Fixed
          3.95000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GEORG JENSEN V/R 05/15/23/EUR/
        N/A
        GEORG JENSEN A/S /EUR/ REGD V/R REG S 6.00000000
        K40294AA6
        
          
        
        1000000.00000000
        NS
        
        1212843.68000000
        0.155930258115
        Long
        DBT
        CORP
        DK
        N
        
        2
        
          2023-05-15
          Variable
          6.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GLADSTONE LAND CORP /PFD/
        54930002B3Q17H38FG74
        GLADSTONE LAND CORP           /PREFERRED/ 0.00000000
        376549507
        
          
        
        144897.00000000
        NS
        USD
        3715159.08000000
        0.477642522144
        Long
        EP
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        BANCO BRADESCO  2.85% 01/27/23
        N/A
        BANCO BRADESCO (CAYMAN) REGD 144A P/P MTN 2.85000000
        05947KAY6
        
          
        
        2500000.00000000
        NS
        USD
        2560025.00000000
        0.329131746830
        Long
        DBT
        CORP
        KY
        
        Y
        
        2
        
          2023-01-27
          Fixed
          2.85000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ONGC VIDESH LTD 3.75% 05/07/23
        N/A
        ONGC VIDESH LTD REGD 3.75000000
        Y6S28SAB2
        
          
        
        1100000.00000000
        NS
        USD
        1149434.00000000
        0.147777939780
        Long
        DBT
        CORP
        IN
        N
        
        2
        
          2023-05-07
          Fixed
          3.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ALIBABA GROUP HO 2.8% 06/06/23
        5493001NTNQJDH60PM02
        ALIBABA GROUP HOLDING REGD 2.80000000
        01609WAS1
        
          
        
        3400000.00000000
        NS
        USD
        3545512.38000000
        0.455831752830
        Long
        DBT
        CORP
        CN
        N
        
        2
        
          2023-06-06
          Fixed
          2.80000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        DBS GROUP HOLDINGS  V/R /PERP/
        5493007FKT78NKPM5V55
        DBS GROUP HOLDINGS LTD REGD V/R /PERP/ EMTN SER GMTN 3.60000000
        Y20246G68
        
          
        
        6100000.00000000
        NS
        USD
        6122875.00000000
        0.787192525219
        Long
        DBT
        CORP
        SG
        N
        
        2
        
          2170-03-07
          Variable
          3.60000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        STRATIM CLOUD ACQUISITION CO
        N/A
        STRATIM CLOUD ACQUISITION CO 0.00000000
        86309R206
        
          
        
        147235.00000000
        NS
        USD
        1464988.25000000
        0.188347434813
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        STARBOARD VALUE ACQUISITI-A
        N/A
        STARBOARD VALUE ACQUISITI-A 0.00000000
        85521J109
        
          
        
        55530.00000000
        NS
        USD
        550302.30000000
        0.070750073645
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        TRUIST FINANCIAL CO V/R /PERP/
        549300DRQQI75D2JP341
        TRUIST FINANCIAL CORP REGD V/R /PERP/ SER N 4.80000000
        89832QAD1
        
          
        
        1810000.00000000
        NS
        USD
        1925387.50000000
        0.247539047939
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2099-12-31
          Variable
          4.80000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        P/O CF FINANCE ACQ JUL 10.000
        N/A
        PUT OPTION ON 100SHS           CF FINANCE ACQUISI JUL 10.000 0.00000000
        6IQ99E0K5
        
          
        
        -333.00000000
        NC
        USD
        -73260.00000000
        -0.00941873293
        N/A
        DE
        CORP
        US
        N
        
        1
        
          
            
              CIBC WORLD MARKETS CORP.
              549300445CON3DBMU275
            
            Put
            Purchased
            
              
                P/O CF FINANCE ACQ JUL 10.000
                6985166
                
                  
                
              
            
            -33300.00000000
            USD
            10.00000000
            USD
            2021-07-16
            XXXX
            -19859.88000000
          
        
        
          N
          N
          N
        
      
      
        CIMB BANK BHD 3.263% 03/15/22
        N/A
        CIMB BANK BHD REGD REG S EMTN 3.26300000
        Y16377AZ9
        
          
        
        200000.00000000
        NS
        USD
        203720.00000000
        0.026191431515
        Long
        DBT
        CORP
        MY
        N
        
        2
        
          2022-03-15
          Fixed
          3.26300000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        INKIA ENERGY L 5.875% 11/09/27
        N/A
        INKIA ENERGY LTD REGD REG S 5.87500000
        G4808VAC4
        
          
        
        800000.00000000
        NS
        USD
        812000.00000000
        0.104395456460
        Long
        DBT
        CORP
        PE
        N
        
        2
        
          2027-11-09
          Fixed
          5.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CHARLES SCHWAB CORP V/R /PERP/
        549300VSGCJ7E698NM85
        CHARLES SCHWAB CORP REGD V/R /PERP/ SER G 5.37500000
        808513BD6
        
          
        
        435000.00000000
        NS
        USD
        481762.50000000
        0.061938197159
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2169-09-01
          Variable
          5.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ABU DHABI GOVT  0.75% 09/02/23
        N/A
        ABU DHABI GOVT INT'L REGD 144A P/P MTN 0.75000000
        29135LAL4
        
          
        
        2000000.00000000
        NS
        USD
        2017180.00000000
        0.259340427172
        Long
        DBT
        USGA
        AE
        Y
        
        2
        
          2023-09-02
          Fixed
          0.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        HERCULES ACHIEVEM V/R 12/22/24
        N/A
        HERCULES ACHIEVEMENT/VAR REGD V/R 9.00000000
        42704WAA8
        
          
        
        1062000.00000000
        NS
        USD
        1072620.00000000
        0.137902283878
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2024-12-22
          Variable
          9.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ESCROW GCB BRI 6.875% 12/15/20
        N/A
        ESCROW GCB BRIGGS & STRAT REGD 0.00000000
        109ESCAA1
        
          
        
        133000.00000000
        NS
        USD
        11128.54000000
        0.001430750016
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2020-12-15
          Fixed
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CREDIT AGRICOLE SA V/R /PERP/
        N/A
        CREDIT AGRICOLE SA REGD V/R /PERP/ 8.12500000
        225313AJ4
        
          
        
        575000.00000000
        NS
        USD
        696818.35000000
        0.089587031673
        Long
        DBT
        CORP
        FR
        Y
        
        2
        
          2170-03-23
          Variable
          8.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SACI FALABELLA 3.75% 04/30/23
        5493004CKJQ7H391LM41
        SACI FALABELLA REGD 3.75000000
        P82290AA8
        
          
        
        2200000.00000000
        NS
        USD
        2302300.00000000
        0.295997117500
        Long
        DBT
        CORP
        CL
        N
        
        2
        
          2023-04-30
          Fixed
          3.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ANA INTL/ANA HOLD 15% 08/15/25
        N/A
        ANA INTL/ANA HOLD REGD P/P 15.00000000
        03254TAA1
        
          
        
        3088439.00000000
        NS
        USD
        3489936.07000000
        0.448686538235
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2025-08-15
          Fixed
          15.00000000
          N
          N
          Y
        
        
          N
          N
          N
        
      
      
        MCDERMOTT INTERNATIONAL LTD
        54930004RAXI4B3L4752
        MCDERMOTT INTERNATIONAL LTD 0.00000000
        G5924V106
        
          
        
        251150.00000000
        NS
        USD
        123063.50000000
        0.015821761399
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        ENN ENERGY HOLD 3.25% 07/24/22
        549300V7BXPWT6WIPR03
        ENN ENERGY HOLDINGS LTD REGD REG S 3.25000000
        G3066LAD3
        
          
        
        200000.00000000
        NS
        USD
        204452.71000000
        0.026285632986
        Long
        DBT
        CORP
        CN
        N
        
        2
        
          2022-07-24
          Fixed
          3.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        VEDANTA RESOUR 7.125% 05/31/23
        N/A
        VEDANTA RESOURCES LTD REGD 7.12500000
        G9328DAJ9
        
          
        
        800000.00000000
        NS
        USD
        751600.00000000
        0.096630080142
        Long
        DBT
        CORP
        IN
        N
        
        2
        
          2023-05-31
          Fixed
          7.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TEKKORP DIGITAL ACQUISITIO-A
        N/A
        TEKKORP DIGITAL ACQUISITIO-A 0.00000000
        G8739H106
        
          
        
        138239.00000000
        NS
        USD
        1350595.03000000
        0.173640375185
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        REPUBLIC OF PAN 3.75% 03/16/25
        N/A
        REPUBLIC OF PANAMA REGD 3.75000000
        698299BE3
        
          
        
        2000000.00000000
        NS
        USD
        2175020.00000000
        0.279633258265
        Long
        DBT
        USGA
        PA
        N
        
        2
        
          2025-03-16
          Fixed
          3.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CTO REALTY GROWTH INC
        N/A
        CTO REALTY GROWTH INC 0.00000000
        22948Q101
        
          
        
        17653.00000000
        NS
        USD
        932431.46000000
        0.119878827444
        Long
        RE
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PERUSAHAAN PENER 3.4% 03/29/22
        N/A
        PERUSAHAAN PENERBIT SBSN REGD REG S 3.40000000
        71567RAG1
        
          
        
        1000000.00000000
        NS
        USD
        1024430.00000000
        0.131706696382
        Long
        DBT
        USGA
        ID
        N
        
        2
        
          2022-03-29
          Fixed
          3.40000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FED REPUBLIC O 2.875% 06/06/25
        N/A
        FED REPUBLIC OF BRAZIL REGD 2.87500000
        105756CD0
        
          
        
        6850000.00000000
        NS
        USD
        7054061.50000000
        0.906911293345
        Long
        DBT
        USGA
        BR
        N
        
        2
        
          2025-06-06
          Fixed
          2.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FRONTERA ENERGY CORP
        A25574TZFLBNK7NWQT47
        FRONTERA ENERGY CORP 0.00000000
        35905B107
        
          
        
        21182.00000000
        NS
        USD
        110912.62000000
        0.014259573389
        Long
        EC
        CORP
        CA
        
        N
        
        1
        
          N
          N
          
        
      
      
        BBVA BANCOMER SA  V/R 11/12/29
        N/A
        BBVA BANCOMER SA TEXAS REGD V/R 5.35000000
        P16259AL0
        
          
        
        1943000.00000000
        NS
        USD
        2028025.68000000
        0.260734811056
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2029-11-12
          Variable
          5.35000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        NGL ENERGY PARTNERS LP PFD
        5299005YSRP46BE8Z459
        NGL ENERGY PARTNERS LP CL B   PREFERRED 0.00000000
        62913M206
        
          
        
        165902.00000000
        NS
        USD
        2266221.32000000
        0.291358631949
        Long
        EP
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        LR GLOBAL HO V/R 02/03/25/EUR/
        529900YM1HDMG9MCJD66
        LR GLOBAL HOLDING /EUR/ REGD V/R 7.25000000
        D5S31RAA6
        
          
        
        2441000.00000000
        NS
        
        3064795.82000000
        0.394028027818
        Long
        DBT
        CORP
        DE
        N
        
        2
        
          2025-02-03
          Variable
          7.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        COPPER MOUNTAIN MI 8% 04/09/26
        5493006C53WJSL5MMV91
        COPPER MOUNTAIN MINING C REGD 8.00000000
        C2783GAA8
        
          
        
        12700000.00000000
        NS
        USD
        13186832.91000000
        1.695376158761
        Long
        DBT
        CORP
        CA
        N
        
        2
        
          2026-04-09
          Fixed
          8.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AES GENER SA V/R 03/26/79
        N/A
        AES GENER SA REGD V/R 144A P/P 7.12500000
        00105DAF2
        
          
        
        800000.00000000
        NS
        USD
        851200.00000000
        0.109435237117
        Long
        DBT
        CORP
        CL
        Y
        
        2
        
          2079-03-26
          Variable
          7.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CARNEY TECHNOLOGY ACQU- CL A
        N/A
        CARNEY TECHNOLOGY ACQU- CL A 0.00000000
        143636108
        
          
        
        264887.00000000
        NS
        USD
        2572052.77000000
        0.330678107100
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CK HUTCHISON INT 1.5% 04/15/26
        N/A
        CK HUTCHISON INTNTL 21 REGD 144A P/P 1.50000000
        12565WAA9
        
          
        
        7750000.00000000
        NS
        USD
        7805715.84000000
        1.003548359755
        Long
        DBT
        CORP
        KY
        
        Y
        
        2
        
          2026-04-15
          Fixed
          1.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FARM CREDIT BK OF TEXAS /PFD/
        N/A
        FARM CREDIT BK OF TEXAS 144A  /PREFERRED/ 0.00000000
        30767E406
        
          
        
        11970.00000000
        NS
        USD
        1280790.00000000
        0.164665833350
        Long
        EP
        CORP
        US
        Y
        
        1
        
          N
          N
          N
        
      
      
        KOREA EAST-WEST 1.75% 05/06/25
        N/A
        KOREA EAST-WEST POWER CO REGD 144A P/P 1.75000000
        5006EPAK7
        
          
        
        2200000.00000000
        NS
        USD
        2245677.32000000
        0.288717375474
        Long
        DBT
        CORP
        KR
        Y
        
        2
        
          2025-05-06
          Fixed
          1.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ENA NORTE TRUST 4.95% 04/25/23
        N/A
        ENA NORTE TRUST REGD 4.95000000
        P3716XAA7
        
          
        
        1158277.85800000
        NS
        USD
        1184339.11000000
        0.152265544326
        Long
        DBT
        CORP
        PA
        N
        
        2
        
          2023-04-25
          Fixed
          4.95000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        T/L RA ACQUISITI 0% 05/31/23
        N/A
        T/L RA ACQUISITION PURCHASER LLC REGD 0.00000000
        N/A
        
          
        
        2254912.52000000
        NS
        USD
        2254912.52000000
        0.289904706656
        Long
        LON
        CORP
        US
        N
        
        3
        
          2023-05-31
          Variable
          11.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        EMPRESA ELECTRIC 5.5% 05/14/27
        N/A
        EMPRESA ELECTRICA COCHRA REGD REG S 5.50000000
        P3713CAB4
        
          
        
        1703600.00000000
        NS
        USD
        1748479.81000000
        0.224794763396
        Long
        DBT
        CORP
        CL
        N
        
        2
        
          2027-05-14
          Fixed
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        RA PARENT INC /RESTRICTED/
        N/A
        RA PARENT INC /RESTRICTED/ 0.00000000
        N/A
        
          
        
        52.04000000
        NS
        USD
        1604913.60000000
        0.206337054005
        Long
        EC
        CORP
        US
        N
        
        3
        
          N
          N
          N
        
      
      
        NY COMMUNITY BANCORP INC PREF
        N/A
        NY COMMUNITY BANCORP INC PREF PREFERRED 0.00000000
        649445202
        
          
        
        15933.00000000
        NS
        USD
        452497.20000000
        0.058175679484
        Long
        EP
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        BANCOLOMBIA SA V/R 12/18/29
        54930052NWJRPNMP1W58
        BANCOLOMBIA SA REGD V/R 4.62500000
        05968LAL6
        
          
        
        1250000.00000000
        NS
        USD
        1264375.00000000
        0.162555425200
        Long
        DBT
        CORP
        CO
        N
        
        2
        
          2029-12-18
          Variable
          4.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CF ACQUISITION CORP IV-CL A
        N/A
        CF ACQUISITION CORP IV-CL A 0.00000000
        12520T102
        
          
        
        54430.00000000
        NS
        USD
        527426.70000000
        0.067809053074
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        CAPITAL FARM CREDIT V/R /PERP/
        254900S6K5I3OISPS518
        CAPITAL FARM CREDIT ACA REGD V/R /PERP/ 144A P/P SER 1 5.00000000
        14019TAA4
        
          
        
        630000.00000000
        NS
        USD
        642342.96000000
        0.082583357775
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2170-03-15
          Variable
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
    
    
      
      
    
    
      2021-06-30
      Brinker Capital Destinations Trust
      Donna Marley
      Donna Marley
      Chief Operating Officer
    
  
  XXXX




  

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Large Cap Equity Fund

 

Shares/Units   Security  Value 
COMMON STOCKS - 98.2% 
BASIC MATERIALS - 2.7% 
Chemicals - 1.8% 
 2,675   Air Products & Chemicals Inc.  $801,590 
 1,370   Albemarle Corp.   228,899 
 61,035   Celanese Corp., Class A Shares   10,098,241 
 219,580   CF Industries Holdings Inc.   11,675,068 
 145,409   Dow Inc.   9,948,884 
 331,412   DuPont de Nemours Inc.   28,034,141 
 80,177   Eastman Chemical Co.   10,054,196 
 2,921   Ecolab Inc.   628,249 
 1,591   FMC Corp.   185,654 
 2,921   International Flavors & Fragrances Inc.   413,818 
 19,007   Linde PLC   5,713,504 
 91,292   LyondellBasell Industries NV, Class A Shares   10,281,305 
 4,052   Mosaic Co.   146,439 
 2,783   PPG Industries Inc.   500,161 
 2,841   Sherwin-Williams Co.   805,509 
     Total Chemicals   89,515,658 
Forest Products & Paper - 0.3%    
 163,480   International Paper Co.   10,315,588 
 62,625   West Fraser Timber Co., Ltd.   4,822,751 
     Total Forest Products & Paper   15,138,339 
Iron/Steel - 0.0%     
 3,603   Nucor Corp.   369,452 
Mining - 0.6%     
 226,821   Freeport-McMoRan Inc.   9,689,793 
 292,187   Newmont Corp.   21,469,901 
     Total Mining   31,159,694 
     TOTAL BASIC MATERIALS   136,183,143 
COMMUNICATIONS - 19.2%     
Advertising - 0.0%  
 4,589   Interpublic Group of Cos., Inc.   154,604 
 2,627   Omnicom Group Inc.   216,045 
     Total Advertising   370,649 
Internet - 14.8%     
 4,946   Airbnb Inc., Class A Shares*   694,418 
 46,110   Alibaba Group Holding Ltd., ADR*   9,865,696 
 37,330   Alphabet Inc., Class A Shares*   87,981,211 
 20,788   Alphabet Inc., Class C Shares*   50,131,509 
 53,500   Amazon.com Inc.*   172,434,245 
 23,117   Booking Holdings Inc.*   54,591,951 
 1,705   CDW Corp.   282,041 
 268,301   Chewy Inc., Class A Shares*(a)   19,752,320 
 52,422   Coupang Inc., Class A Shares*(a)   2,138,293 
 32,293   DoorDash Inc., Class A Shares*   4,852,992 
 7,815   eBay Inc.   475,777 
 61,293   Etsy Inc.*   10,096,796 
 64,921   Expedia Group Inc.*   11,487,771 
 28,961   F5 Networks Inc.*   5,370,238 
 415,596   Facebook Inc., Class A Shares*   136,618,873 
 122,106   Farfetch Ltd., Class A Shares*   5,657,171 
 5,559   IAC/InterActiveCorp*   886,494 
 11,600   Kuaishou Technology, Class B Shares*(b)   299,534 
 269,768   Match Group Inc.*   38,679,336 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Large Cap Equity Fund (continued)

 

Shares/Units   Security  Value 
COMMON STOCKS - (continued) 
COMMUNICATIONS - 19.2% - (continued) 
Internet - 14.8% - (continued)     
 43,661   Netflix Inc.*  $21,953,187 
 6,835   NortonLifeLock Inc.   189,056 
 65,936   Pinterest Inc., Class A Shares*   4,305,621 
 83,089   Sea Ltd., ADR*   21,041,458 
 3,519   Shopify Inc., Class A Shares*   4,373,660 
 348,804   Snap Inc., Class A Shares*   21,667,705 
 20,984   Spotify Technology SA*   5,069,105 
 133,900   Tencent Holdings Ltd.   10,377,839 
 9,649   Twitter Inc.*   559,642 
 516,443   Uber Technologies Inc.*   26,250,798 
 47,114   VeriSign Inc.*   10,361,311 
 26,604   Vimeo Inc., Class A, Private Placement*@   1,117,368 
     Total Internet   739,563,416 
Media - 1.5%     
 1,710   Charter Communications Inc., Class A Shares*   1,187,646 
 693,942   Comcast Corp., Class A Shares   39,790,634 
 1,909   Discovery Inc., Class A Shares*(a)   61,298 
 3,402   Discovery Inc., Class C Shares*   102,230 
 2,906   DISH Network Corp., Class A Shares*   126,469 
 272,585   Fox Corp., Class A Shares   10,181,050 
 1,805   Fox Corp., Class B Shares   65,485 
 4,594   News Corp., Class A Shares   123,992 
 1,606   News Corp., Class B Shares   41,258 
 7,115   ViacomCBS Inc., Class B Shares   301,818 
 146,803   Walt Disney Co.*   26,226,356 
     Total Media   78,208,236 
Telecommunications - 2.9%     
 674   Arista Networks Inc.*   228,742 
 86,217   AT&T Inc.   2,537,366 
 99,931   Ciena Corp.*   5,283,352 
 828,391   Cisco Systems Inc.   43,821,884 
 277,073   Corning Inc.   12,088,695 
 3,854   Juniper Networks Inc.   101,476 
 11,595   Lumen Technologies Inc.   160,475 
 164,114   Motorola Solutions Inc.   33,694,245 
 1,067,352   Nokia OYJ, ADR*   5,507,536 
 7,061   T-Mobile US Inc.*   998,779 
 406,327   Verizon Communications Inc.   22,953,412 
 525,528   Vodafone Group PLC, ADR   9,706,502 
     Total Telecommunications   137,082,464 
     TOTAL COMMUNICATIONS   955,224,765 
CONSUMER CYCLICAL - 6.5%     
Airlines - 0.1%     
 1,459   Alaska Air Group Inc.*   100,963 
 7,513   American Airlines Group Inc.*   182,115 
 7,715   Delta Air Lines Inc.*   367,851 
 61,474   Southwest Airlines Co.*   3,778,192 
 3,903   United Airlines Holdings Inc.*   227,740 
     Total Airlines   4,656,861 
Apparel - 1.1%     
 4,097   Hanesbrands Inc.   80,055 
 392,911   NIKE Inc., Class B Shares   53,616,635 
 835   PVH Corp.*   95,875 
 567   Ralph Lauren Corp., Class A Shares*   70,353 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Large Cap Equity Fund (continued)

 

 Shares/Units   Security   Value 
COMMON STOCKS - (continued)     
CONSUMER CYCLICAL - 6.5% - (continued)     
Apparel - 1.1% - (continued)     
 3,441   Tapestry Inc.*  $154,466 
 2,206   Under Armour Inc., Class A Shares*   49,811 
 2,289   Under Armour Inc., Class C Shares*   43,628 
 3,883   VF Corp.   309,553 
     Total Apparel   54,420,376 
Auto Manufacturers - 0.8%     
 57,720   Cummins Inc.   14,850,202 
 40,335   Ferrari NV   8,507,055 
 47,243   Ford Motor Co.*   686,441 
 158,619   General Motors Co.*   9,407,693 
 4,194   PACCAR Inc.   384,003 
 9,283   Tesla Inc.*   5,803,917 
     Total Auto Manufacturers   39,639,311 
Auto Parts & Equipment - 0.1%     
 19,542   Aptiv PLC*   2,939,508 
 2,807   BorgWarner Inc.   143,971 
     Total Auto Parts & Equipment   3,083,479 
Distribution/Wholesale - 0.0%     
 2,514   Copart Inc.*   324,331 
 6,943   Fastenal Co.   368,257 
 3,278   LKQ Corp.*   167,047 
 493   Pool Corp.   215,219 
 536   WW Grainger Inc.   247,718 
     Total Distribution/Wholesale   1,322,572 
Entertainment - 0.1%     
 2,536   Caesars Entertainment Inc.*   272,493 
 64,190   DraftKings Inc., Class A Shares*   3,206,290 
 1,686   Live Nation Entertainment Inc.*   151,925 
 1,746   Penn National Gaming Inc.*   143,120 
     Total Entertainment   3,773,828 
Home Builders - 0.0%     
 4,001   DR Horton Inc.   381,255 
 3,318   Lennar Corp., Class A Shares   328,515 
 43   NVR Inc.*   210,151 
 3,263   PulteGroup Inc.   188,569 
     Total Home Builders   1,108,490 
Home Furnishings - 0.2%     
 72,744   Dolby Laboratories Inc., Class A Shares   7,095,450 
 1,562   Leggett & Platt Inc.   85,957 
 772   Whirlpool Corp.   183,033 
     Total Home Furnishings   7,364,440 
Housewares - 0.0%    
 4,438   Newell Brands Inc.   127,326 
Leisure Time - 0.0%     
 9,691   Carnival Corp.*   286,466 
 4,266   Norwegian Cruise Line Holdings Ltd.*   136,085 
 2,673   Royal Caribbean Cruises Ltd.*   249,311 
     Total Leisure Time   671,862 
Lodging - 0.6%     
 3,356   Hilton Worldwide Holdings Inc.*   420,406 
 375,686   Las Vegas Sands Corp.*   21,695,866 
 3,216   Marriott International Inc., Class A Shares*   461,753 
 5,035   MGM Resorts International   215,850 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Large Cap Equity Fund (continued)

 

 Shares/Units   Security   Value 
COMMON STOCKS - (continued)     
CONSUMER CYCLICAL - 6.5% - (continued)     
Lodging - 0.6% - (continued)     
 70,888   Wynn Resorts Ltd.*  $9,348,001 
     Total Lodging   32,141,876 
Retail - 3.5%     
 770   Advance Auto Parts Inc.   146,092 
 268   AutoZone Inc.*   376,969 
 2,786   Best Buy Co., Inc.   323,845 
 1,972   CarMax Inc.*   227,155 
 15,275   Carvana Co., Class A Shares*   4,049,250 
 4,862   Chipotle Mexican Grill Inc., Class A Shares*   6,670,567 
 87,966   Costco Wholesale Corp.   33,274,899 
 1,591   Darden Restaurants Inc.   227,879 
 110,199   Dollar General Corp.   22,365,989 
 202,686   Dollar Tree Inc.*   19,761,885 
 23,501   Domino's Pizza Inc.   10,031,872 
 2,416   Gap Inc.   80,815 
 1,762   Genuine Parts Co.   231,033 
 13,015   Home Depot Inc.   4,150,614 
 2,874   L Brands Inc.*   200,806 
 135,737   Lowe's Cos., Inc.   26,445,640 
 22,527   Lululemon Athletica Inc.*   7,279,150 
 9,013   McDonald's Corp.   2,108,051 
 849   O'Reilly Automotive Inc.*   454,317 
 134,794   Ross Stores Inc.   17,036,614 
 14,233   Starbucks Corp.   1,620,854 
 6,055   Target Corp.   1,374,001 
 14,515   TJX Cos., Inc.   980,343 
 1,410   Tractor Supply Co.   256,197 
 689   Ulta Beauty Inc.*   237,953 
 8,670   Walgreens Boots Alliance Inc.   456,562 
 16,760   Walmart Inc.   2,380,423 
 87,812   Yum! Brands Inc.   10,534,806 
     Total Retail   173,284,581 
Textiles - 0.0%     
 732   Mohawk Industries Inc.*   154,218 
Toys/Games/Hobbies - 0.0%     
 1,500   Hasbro Inc.   143,955 
     TOTAL CONSUMER CYCLICAL   321,893,175 
CONSUMER NON-CYCLICAL - 23.9%     
Agriculture - 1.4%     
 223,454   Altria Group Inc.   10,998,406 
 420,051   Archer-Daniels-Midland Co.   27,945,993 
 315,954   Philip Morris International Inc.   30,467,444 
     Total Agriculture   69,411,843 
Beverages - 0.6%     
 131,104   Brown-Forman Corp., Class B Shares   10,535,517 
 46,886   Coca-Cola Co.   2,592,327 
 2,056   Constellation Brands Inc., Class A Shares   492,864 
 3,216   Molson Coors Beverage Co., Class B Shares*   187,557 
 4,469   Monster Beverage Corp.*   421,293 
 108,794   PepsiCo Inc.   16,094,984 
     Total Beverages   30,324,542 
Biotechnology - 3.1%    
 2,658   Alexion Pharmaceuticals Inc.*   469,270 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Large Cap Equity Fund (continued)

 

 Shares/Units   Security   Value 
COMMON STOCKS - (continued)     
CONSUMER NON-CYCLICAL - 23.9% - (continued)     
Biotechnology - 3.1% - (continued)     
 46,941   Amgen Inc.  $11,169,142 
 7,864   Argenx SE, ADR*   2,193,977 
 46,870   Biogen Inc.*   12,536,788 
 209,018   BioMarin Pharmaceutical Inc.*   16,157,091 
 253   Bio-Rad Laboratories Inc., Class A Shares*   152,400 
 8,995   Corteva Inc.   409,273 
 208,638   Exact Sciences Corp.*   23,060,758 
 160,405   Gilead Sciences Inc.   10,604,375 
 94,988   Illumina Inc.*   38,530,932 
 163,499   Incyte Corp.*   13,697,946 
 1,273   Regeneron Pharmaceuticals Inc.*   639,593 
 27,478   United Therapeutics Corp.*   5,108,160 
 91,068   Vertex Pharmaceuticals Inc.*   18,999,517 
     Total Biotechnology   153,729,222 
Commercial Services - 3.5%     
 3,351   Affirm Holdings Inc., Class A Shares*(a)   203,774 
 60,787   Afterpay Ltd.*   4,401,625 
 5,173   Automatic Data Processing Inc.   1,014,011 
 24,924   Avalara Inc.*   3,294,205 
 20,363   Cintas Corp.   7,199,135 
 24,667   CoStar Group Inc.*   21,065,618 
 49,917   Equifax Inc.   11,732,492 
 1,010   FleetCor Technologies Inc.*   277,184 
 1,080   Gartner Inc.*   250,387 
 53,605   Global Payments Inc.   10,383,825 
 4,507   IHS Markit Ltd.   474,632 
 3,950   MarketAxess Holdings Inc.   1,842,833 
 1,945   Moody's Corp.   652,256 
 4,202   Nielsen Holdings PLC   114,336 
 210,936   PayPal Holdings Inc.*   54,847,579 
 110,326   Quanta Services Inc.   10,519,584 
 1,329   Robert Half International Inc.   118,002 
 2,601   Rollins Inc.   88,668 
 21,404   S&P Global Inc.   8,122,176 
 116,764   Square Inc., Class A Shares*   25,982,325 
 42,215   StoneCo Ltd., Class A Shares*   2,784,924 
 57,991   TransUnion   6,205,037 
 874   United Rentals Inc.*   291,881 
 1,968   Verisk Analytics Inc., Class A Shares   340,129 
     Total Commercial Services   172,206,618 
Cosmetics/Personal Care - 0.6%    
 10,258   Colgate-Palmolive Co.   859,415 
 83,653   Estee Lauder Cos., Inc., Class A Shares   25,641,318 
 29,769   Procter & Gamble Co.   4,014,350 
     Total Cosmetics/Personal Care   30,515,083 
Food - 0.8%     
 2,384   Campbell Soup Co.   116,029 
 555,575   Conagra Brands Inc.   21,167,408 
 7,392   General Mills Inc.   464,661 
 1,773   Hershey Co.   306,818 
 3,299   Hormel Foods Corp.   160,133 
 1,352   JM Smucker Co.   180,208 
 3,126   Kellogg Co.   204,722 
 7,837   Kraft Heinz Co.   341,615 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Large Cap Equity Fund (continued)

 

 Shares/Units   Security   Value 
COMMON STOCKS - (continued)     
CONSUMER NON-CYCLICAL - 23.9% - (continued)     
Food – 0.8% - (continued)     
 9,204   Kroger Co.  $340,364 
 1,719   Lamb Weston Holdings Inc.   141,800 
 3,019   McCormick & Co., Inc.   268,872 
 263,177   Mondelez International Inc., Class A Shares   16,719,635 
 6,170   Sysco Corp.   499,770 
 3,572   Tyson Foods Inc., Class A Shares   283,974 
     Total Food   41,196,009 
Healthcare-Products – 4.9%     
 21,416   Abbott Laboratories   2,498,176 
 114,569   ABIOMED Inc.*   32,604,046 
 152,309   Alcon Inc.   10,612,891 
 48,497   Align Technology Inc.*   28,620,505 
 102,441   Avantor Inc.*   3,293,478 
 6,106   Baxter International Inc.   501,425 
 17,132   Boston Scientific Corp.*   728,967 
 598   Cooper Cos., Inc.   235,283 
 58,707   Danaher Corp.   15,037,211 
 121,508   DENTSPLY SIRONA Inc.   8,131,315 
 390,772   Edwards Lifesciences Corp.*   37,475,035 
 3,156   Hologic Inc.*   199,017 
 58,644   IDEXX Laboratories Inc.*   32,729,803 
 17,950   Intuitive Surgical Inc.*   15,117,131 
 235,195   Medtronic PLC   29,773,335 
 1,383   PerkinElmer Inc.   200,632 
 1,759   ResMed Inc.   362,090 
 1,043   STERIS PLC   199,067 
 53,002   Stryker Corp.   13,529,821 
 569   Teleflex Inc.   228,846 
 4,761   Thermo Fisher Scientific Inc.   2,235,290 
 896   West Pharmaceutical Services Inc.   311,369 
 64,452   Zimmer Biomet Holdings Inc.   10,849,205 
     Total Healthcare-Products   245,473,938 
Healthcare-Services - 2.3%     
 24,260   Anthem Inc.   9,660,817 
 2,082   Catalent Inc.*   218,256 
 208,730   Centene Corp.*   15,362,528 
 601   Charles River Laboratories International Inc.*   203,132 
 83,364   DaVita Inc.*   10,009,515 
 83,193   HCA Healthcare Inc.   17,869,024 
 11,329   Humana Inc.   4,958,703 
 2,312   IQVIA Holdings Inc.*   555,250 
 40,047   Laboratory Corp. of America Holdings*   10,992,101 
 1,630   Quest Diagnostics Inc.   214,622 
 107,191   UnitedHealth Group Inc.   44,154,117 
 914   Universal Health Services Inc., Class B Shares   145,902 
     Total Healthcare-Services   114,343,967 
Household Products/Wares - 0.0%     
 1,015   Avery Dennison Corp.   223,838 
 2,975   Church & Dwight Co., Inc.   255,047 
 1,524   Clorox Co.   269,337 
 4,086   Kimberly-Clark Corp.   533,754 
     Total Household Products/Wares   1,281,976 
Pharmaceuticals - 6.7%     
 125,475   AbbVie Inc.   14,203,770 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Large Cap Equity Fund (continued)

 

 Shares/Units   Security   Value 
COMMON STOCKS - (continued)     
CONSUMER NON-CYCLICAL - 23.9% - (continued)     
Pharmaceuticals - 6.7% - (continued)    
 1,799   AmerisourceBergen Corp., Class A Shares  $206,417 
 106,803   AstraZeneca PLC, ADR(a)   6,063,206 
 40,794   Becton Dickinson & Co.   9,867,661 
 403,999   Bristol-Myers Squibb Co.   26,550,814 
 373,987   Cardinal Health Inc.   20,969,451 
 147,591   Cigna Corp.   38,203,930 
 431,092   CVS Health Corp.   37,263,593 
 1,163   DexCom Inc.*   429,601 
 253,049   Elanco Animal Health Inc.*   9,104,703 
 273,735   Eli Lilly & Co.   54,675,829 
 1,673   Henry Schein Inc.*   127,215 
 56,641   Horizon Therapeutics PLC*   5,191,714 
 156,599   Johnson & Johnson   26,504,381 
 28,994   McKesson Corp.   5,578,156 
 428,917   Merck & Co., Inc.   32,550,511 
 1,563   Perrigo Co. PLC   72,117 
 67,429   Pfizer Inc.   2,611,525 
 142,896   Sarepta Therapeutics Inc.*   10,810,082 
 1,862,401   Viatris Inc.   28,382,991 
 5,744   Zoetis Inc., Class A Shares   1,014,850 
     Total Pharmaceuticals   330,382,517 
     TOTAL CONSUMER NON-CYCLICAL   1,188,865,715 
ENERGY - 3.1%     
Energy-Alternate Sources - 0.6%     
 127,629   Enphase Energy Inc.*   18,257,329 
 153,526   NextEra Energy Partners LP   10,496,573 
     Total Energy-Alternate Sources   28,753,902 
Oil & Gas - 2.5%     
 4,438   APA Corp.   92,311 
 4,691   Cabot Oil & Gas Corp.   76,932 
 23,288   Chevron Corp.   2,417,062 
 452,169   ConocoPhillips   25,203,900 
 495,872   Devon Energy Corp.   13,170,360 
 2,232   Diamondback Energy Inc.   178,716 
 7,055   EOG Resources Inc.   566,799 
 405,148   EQT Corp.*   8,459,490 
 407,535   Exxon Mobil Corp.   23,787,818 
 189,782   Hess Corp.   15,907,527 
 1,755   HollyFrontier Corp.   56,985 
 9,272   Marathon Oil Corp.   112,284 
 364,623   Marathon Petroleum Corp.   22,533,701 
 10,177   Occidental Petroleum Corp.   264,195 
 5,281   Phillips 66   444,766 
 2,487   Pioneer Natural Resources Co.   378,497 
 135,958   Valero Energy Corp.   10,931,023 
     Total Oil & Gas   124,582,366 
Oil & Gas Services - 0.0%     
 8,958   Baker Hughes Co., Class A Shares   218,575 
 10,844   Halliburton Co.   243,448 
 4,560   NOV Inc.*   73,507 
 16,904   Schlumberger NV   529,602 
     Total Oil & Gas Services   1,065,132 
Pipelines - 0.0%     
 23,536   Kinder Morgan Inc.   431,650 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Large Cap Equity Fund (continued)

 

 Shares/Units   Security   Value 
COMMON STOCKS - (continued)     
ENERGY - 3.1% - (continued)     
Pipelines - 0.0% - (continued)     
 5,389   ONEOK Inc.  $284,216 
 14,674   Williams Cos., Inc.   386,513 
     Total Pipelines   1,102,379 
     TOTAL ENERGY   155,503,779 
FINANCIAL - 13.7%     
Banks - 3.9%     
 735,331   Bank of America Corp.   31,170,681 
 9,753   Bank of New York Mellon Corp.   507,936 
 25,234   Citigroup Inc.   1,986,168 
 137,849   Citizens Financial Group Inc.   6,878,665 
 1,635   Comerica Inc.   128,331 
 8,596   Fifth Third Bancorp   362,235 
 2,127   First Republic Bank   407,193 
 21,757   Goldman Sachs Group Inc.   8,094,039 
 12,499   Huntington Bancshares Inc.   198,234 
 231,379   JPMorgan Chase & Co.   38,001,687 
 11,760   KeyCorp   270,950 
 1,565   M&T Bank Corp.   251,480 
 91,486   Morgan Stanley   8,320,652 
 2,521   Northern Trust Corp.   305,520 
 5,126   PNC Financial Services Group Inc.   997,930 
 11,665   Regions Financial Corp.   273,078 
 4,253   State Street Corp.   369,926 
 653   SVB Financial Group*   380,627 
 566,858   Truist Financial Corp.   35,020,487 
 561,427   US Bancorp   34,123,533 
 394,079   Wells Fargo & Co.   18,411,371 
 1,929   Zions Bancorp N.A.   111,651 
     Total Banks   186,572,374 
Diversified Financial Services - 5.1%     
 223,302   Ally Financial Inc.   12,216,852 
 7,889   American Express Co.   1,263,266 
 91,565   Ameriprise Financial Inc.   23,792,250 
 282,464   Ant International Co., Ltd., Class C Shares, Private Placement*(c)(d)@   1,991,371 
 1,716   BlackRock Inc., Class A Shares   1,505,001 
 166,071   Capital One Financial Corp.   26,700,895 
 1,259   Cboe Global Markets Inc.   140,127 
 377,070   Charles Schwab Corp.   27,846,620 
 4,340   CME Group Inc., Class A Shares   949,418 
 241,289   Discover Financial Services   28,293,548 
 3,206   Franklin Resources Inc.   109,677 
 6,791   Intercontinental Exchange Inc.   766,568 
 4,421   Invesco Ltd.   126,131 
 349   Maplebear Inc. d/b/a Instacart, Non-voting Shares*(c)(d)@   43,625 
 6,679   Maplebear Inc. d/b/a Instacart, Private Placement*(c)(d)@   834,875 
 113,342   Mastercard Inc., Class A Shares   40,868,858 
 1,408   Nasdaq Inc.   235,784 
 1,505   Raymond James Financial Inc.   199,548 
 118,586   Social Finance Inc., Private Placement*(c)(d)@   3,955,735 
 6,571   Synchrony Financial   311,531 
 2,756   T Rowe Price Group Inc.   527,361 
 28,747   Tradeweb Markets Inc., Class A Shares   2,408,424 
 343,357   Visa Inc., Class A Shares   78,045,046 
 4,826   Western Union Co.   118,092 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Large Cap Equity Fund (continued)

 

Shares/Units    Security   Value 
COMMON STOCKS - (continued)       
FINANCIAL - 13.7% - (continued)       
Diversified Financial Services - 5.1% - (continued)     
 64,146    XP Inc., Class A Shares*  $2,544,030 
      Total Diversified Financial Services   255,794,633 
Equity Real Estate Investment Trusts (REITs) – 1.3%     
 1,541    Alexandria Real Estate Equities Inc.   274,699 
 46,472    American Tower Corp.   11,871,737 
 1,687    AvalonBay Communities Inc.   349,108 
 1,744    Boston Properties Inc.   205,025 
 60,449    Crown Castle International Corp.   11,455,086 
 3,399    Digital Realty Trust Inc.   515,152 
 4,575    Duke Realty Corp.   212,555 
 1,079    Equinix Inc.   794,921 
 325,359    Equity Residential   25,199,055 
 794    Essex Property Trust Inc.   234,460 
 1,609    Extra Space Storage Inc.   241,044 
 820    Federal Realty Investment Trust   93,759 
 6,578    Healthpeak Properties Inc.   219,574 
 8,285    Host Hotels & Resorts Inc.*   142,253 
 3,388    Iron Mountain Inc.   147,514 
 5,079    Kimco Realty Corp.   108,233 
 1,399    Mid-America Apartment Communities Inc.   224,819 
 8,940    Prologis Inc.   1,053,490 
 1,838    Public Storage   519,198 
 4,514    Realty Income Corp.   308,758 
 1,990    Regency Centers Corp.   128,554 
 1,322    SBA Communications Corp., Class A Shares   394,115 
 3,971    Simon Property Group Inc.   510,234 
 3,486    UDR Inc.   166,038 
 4,554    Ventas Inc.   252,519 
 1,843    Vornado Realty Trust   87,137 
 5,046    Welltower Inc.   377,289 
 278,318    Weyerhaeuser Co.   10,564,951 
      Total Equity Real Estate Investment Trusts (REITs)   66,651,277 
Insurance - 3.4%     
 7,742    Aflac Inc.   438,817 
 3,661    Allstate Corp.   500,129 
 551,554    American International Group Inc.   29,144,113 
 54,649    Aon PLC, Class A Shares   13,846,417 
 2,342    Arthur J Gallagher & Co.   343,361 
 172,206    Assurant Inc.   27,750,997 
 139,236    Berkshire Hathaway Inc., Class B Shares*   40,300,468 
 5,443    Chubb Ltd.   925,256 
 1,835    Cincinnati Financial Corp.   223,338 
 152,082    Equitable Holdings Inc.   4,828,604 
 470    Everest Re Group Ltd.   122,181 
 1,116    Globe Life Inc.   117,649 
 4,327    Hartford Financial Services Group Inc.   282,769 
 2,251    Lincoln National Corp.   157,097 
 2,815    Loews Corp.   164,340 
 6,144    Marsh & McLennan Cos., Inc.   850,022 
 406,594    MetLife Inc.   26,574,984 
 3,110    Principal Financial Group Inc.   203,363 
 7,081    Progressive Corp.   701,585 
 4,799    Prudential Financial Inc.   513,349 
 3,049    Travelers Cos., Inc.   486,925 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Large Cap Equity Fund (continued)

 

Shares/Units     Security  Value 
COMMON STOCKS - (continued)       
FINANCIAL - 13.7% - (continued)       
Insurance – 3.4% - (continued)     
 2,393    Unum Group  $74,111 
 311,650    Voya Financial Inc.   20,419,308 
 1,559    Willis Towers Watson PLC   407,460 
 1,646    WR Berkley Corp.   128,372 
      Total Insurance   169,505,015 
Real Estate - 0.0%     
 4,057    CBRE Group Inc., Class A Shares*   356,123 
Savings & Loans - 0.0%     
 4,998    People's United Financial Inc.   94,512 
      TOTAL FINANCIAL   678,973,934 
INDUSTRIAL - 8.6%     
Aerospace/Defense - 3.3%     
 31,464    Airbus SE*   4,143,998 
 36,141    Boeing Co.*   8,927,550 
 55,814    General Dynamics Corp.   10,599,637 
 382,589    Howmet Aerospace Inc.*   13,574,258 
 99,387    L3Harris Technologies Inc.   21,672,329 
 28,828    Lockheed Martin Corp.   11,018,062 
 122,749    Northrop Grumman Corp.   44,910,177 
 407,819    Raytheon Technologies Corp.   36,177,623 
 21,952    Teledyne Technologies Inc.*   9,208,205 
 661    TransDigm Group Inc.*   428,883 
      Total Aerospace/Defense   160,660,722 
Building Materials - 0.4%     
 277,329    Carrier Global Corp.   12,737,721 
 1,708    Fortune Brands Home & Security Inc.   176,197 
 8,707    Johnson Controls International PLC   579,364 
 755    Martin Marietta Materials Inc.   274,556 
 3,151    Masco Corp.   190,037 
 26,018    Vulcan Materials Co.   4,769,620 
      Total Building Materials   18,727,495 
Electrical Components & Equipment - 0.1%     
 2,787    AMETEK Inc.   376,524 
 7,254    Emerson Electric Co.   694,135 
 9,166    Generac Holdings Inc.*   3,013,047 
      Total Electrical Components & Equipment   4,083,706 
Electronics - 0.7%     
 3,684    Agilent Technologies Inc.   508,871 
 1,066    Allegion PLC   149,752 
 7,243    Amphenol Corp., Class A Shares   487,164 
 4,090    Fortive Corp.   296,607 
 1,818    Garmin Ltd.   258,592 
 105,014    Honeywell International Inc.   24,248,783 
 54,660    Hubbell Inc., Class B Shares   10,420,382 
 2,250    Keysight Technologies Inc.*   320,355 
 283    Mettler-Toledo International Inc.*   368,169 
 4,000    TE Connectivity Ltd.   542,720 
 3,055    Trimble Inc.*   237,648 
 759    Waters Corp.*   244,588 
      Total Electronics   38,083,631 
Engineering & Construction - 0.0%     
 1,590    Jacobs Engineering Group Inc.   225,907 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Large Cap Equity Fund (continued)

 

Shares/Units    Security  Value 
COMMON STOCKS - (continued)       
INDUSTRIAL - 8.6% - (continued)       
Environmental Control - 0.0%     
 1,950    Pentair PLC  $134,491 
 23,420    Redwood Materials Inc., Series C, Private Placement*@   1,110,189 
 2,551    Republic Services Inc., Class A Shares   278,518 
 4,706    Waste Management Inc.   662,040 
      Total Environmental Control   2,185,238 
Hand/Machine Tools - 0.0%     
 637    Snap-on Inc.   162,193 
 1,945    Stanley Black & Decker Inc.   421,676 
      Total Hand/Machine Tools   583,869 
Machinery-Construction & Mining - 0.9%     
 571,704    Bloom Energy Corp., Class A Shares*   13,818,086 
 118,283    Caterpillar Inc.   28,515,666 
      Total Machinery-Construction & Mining   42,333,752 
Machinery-Diversified - 0.3%     
 3,789    Deere & Co.   1,368,208 
 1,744    Dover Corp.   262,472 
 929    IDEX Corp.   206,851 
 234,998    Ingersoll Rand Inc.*   11,665,301 
 4,928    Otis Worldwide Corp.   386,010 
 1,404    Rockwell Automation Inc.   370,263 
 2,086    Westinghouse Air Brake Technologies Corp.   172,637 
 2,192    Xylem Inc.   258,919 
      Total Machinery-Diversified   14,690,661 
Miscellaneous Manufacturers - 1.5%     
 7,001    3M Co.   1,421,483 
 145,884    AO Smith Corp.   10,367,976 
 142,414    Eaton Corp. PLC   20,685,633 
 105,997    General Electric Co.   1,490,318 
 3,484    Illinois Tool Works Inc.   807,452 
 1,560    Parker-Hannifin Corp.   480,714 
 151,968    Textron Inc.   10,405,249 
 142,413    Trane Technologies PLC   26,545,783 
      Total Miscellaneous Manufacturers   72,204,608 
Packaging & Containers - 0.0%     
 19,032    Amcor PLC   224,578 
 3,964    Ball Corp.   325,682 
 1,114    Packaging Corp. of America   165,596 
 1,820    Sealed Air Corp.   103,485 
 3,243    WestRock Co.   189,132 
      Total Packaging & Containers   1,008,473 
Shipbuilding - 0.2%     
 47,289    Huntington Ingalls Industries Inc.   10,224,355 
            
Transportation - 1.2%     
 1,572    CH Robinson Worldwide Inc.   152,515 
 9,218    CSX Corp.   922,906 
 2,064    Expeditors International of Washington Inc.   259,424 
 73,203    FedEx Corp.   23,045,036 
 981    JB Hunt Transport Services Inc.   168,281 
 1,098    Kansas City Southern   326,853 
 12,921    Norfolk Southern Corp.   3,629,509 
 1,159    Old Dominion Freight Line Inc.   307,657 
 94,243    Union Pacific Corp.   21,179,229 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Large Cap Equity Fund (continued)

 

Shares/Units    Security  Value 
COMMON STOCKS - (continued)       
INDUSTRIAL - 8.6% - (continued)       
Transportation - 1.2% - (continued)     
 55,327   United Parcel Service Inc., Class B Shares  $11,873,174 
     Total Transportation   61,864,584 
     TOTAL INDUSTRIAL   426,877,001 
TECHNOLOGY - 18.8%     
Computers - 2.6%     
 7,667   Accenture PLC, Class A Shares   2,163,321 
 596,925   Apple Inc.   74,382,824 
 426,385   Cognizant Technology Solutions Corp., Class A Shares   30,512,111 
 2,990   DXC Technology Co.*   113,381 
 45,713   Fortinet Inc.*   9,990,119 
 15,819   Hewlett Packard Enterprise Co.   252,471 
 15,142   HP Inc.   442,601 
 10,803   International Business Machines Corp.   1,552,823 
 99,314   Leidos Holdings Inc.   10,204,514 
 2,615   NetApp Inc.   202,323 
 2,456   Seagate Technology Holdings PLC   235,162 
 3,722   Western Digital Corp.*   280,006 
     Total Computers   130,331,656 
Office/Business Equipment - 0.1%     
 6,046   Zebra Technologies Corp., Class A Shares*   3,005,164 
Semiconductors – 3.9%     
 234,543   Advanced Micro Devices Inc.*   18,782,203 
 4,460   Analog Devices Inc.   734,116 
 90,365   Applied Materials Inc.   12,482,117 
 21,339   ASML Holding NV, Class NY Registered Shares, ADR   14,413,854 
 56,635   Broadcom Inc.   26,750,410 
 49,118   Intel Corp.   2,805,620 
 421   IPG Photonics Corp.*   88,098 
 1,863   KLA Corp.   590,366 
 1,728   Lam Research Corp.   1,122,941 
 3,240   Maxim Integrated Products Inc.   330,512 
 3,255   Microchip Technology Inc.   510,872 
 73,686   Micron Technology Inc.*   6,199,940 
 504   Monolithic Power Systems Inc.   172,932 
 100,057   NVIDIA Corp.   65,015,037 
 3,349   NXP Semiconductors NV   708,046 
 60,119   Qorvo Inc.*   10,984,944 
 173,712   QUALCOMM Inc.   23,371,212 
 1,994   Skyworks Solutions Inc.   338,980 
 64,834   Taiwan Semiconductor Manufacturing Co., Ltd., ADR   7,608,918 
 2,028   Teradyne Inc.   268,406 
 11,125   Texas Instruments Inc.   2,111,748 
 2,971   Xilinx Inc.   377,317 
     Total Semiconductors   195,768,589 
Software - 12.2%     
 262,026   Activision Blizzard Inc.   25,482,029 
 88,532   Adobe Inc.*   44,671,477 
 1,999   Akamai Technologies Inc.*   228,306 
 1,049   ANSYS Inc.*   354,499 
 39,320   Autodesk Inc.*   11,240,015 
 74,682   Black Knight Inc.*   5,480,912 
 1,413   Broadridge Financial Solutions Inc.   225,345 
 3,373   Cadence Design Systems Inc.*   428,337 
 3,711   Cerner Corp.   290,386 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Large Cap Equity Fund (continued)

 

Shares/Units     Security  Value 
COMMON STOCKS - (continued)       
TECHNOLOGY - 18.8% - (continued)       
Software - 12.2% - (continued)     
 1,444    Citrix Systems Inc.  $166,002 
 56,249    Clarivate PLC*   1,689,720 
 822,945    Cloudera Inc.*   10,583,073 
 4,276    Coupa Software Inc.*   1,018,543 
 29,461    Datadog Inc., Class A Shares*   2,682,424 
 101,599    DocuSign Inc., Class A Shares*   20,484,390 
 3,477    Electronic Arts Inc.   496,968 
 3,985    Epic Games Inc., Private Placement*(c)(d)@   3,526,725 
 229,138    Fidelity National Information Services Inc.   34,136,979 
 106,736    Fiserv Inc.*   12,295,987 
 150,265    Intuit Inc.   65,979,859 
 894    Jack Henry & Associates Inc.   137,810 
 454,500    Microsoft Corp.   113,479,560 
 5,700    MongoDB Inc., Class A Shares*   1,664,058 
 71,522    MSCI Inc., Class A Shares   33,481,594 
 331,922    Oracle Corp.   26,135,538 
 3,880    Paychex Inc.   392,423 
 7,538    Paycom Software Inc.*   2,484,525 
 46,873    Playtika Holding Corp.*   1,285,726 
 1,235    PTC Inc.*   165,663 
 96,209    RingCentral Inc., Class A Shares*   25,251,976 
 12,366    ROBLOX Corp., Class A Shares*   1,159,560 
 30,788    Roper Technologies Inc.   13,854,908 
 204,548    salesforce.com Inc.*   48,702,879 
 113,457    ServiceNow Inc.*   53,765,003 
 744    Snowflake Inc., Class A Shares*   177,094 
 212,328    Splunk Inc.*   25,734,154 
 20,012    Stripe Inc., Class B Shares, Private Placement*(c)(d)@   802,982 
 1,842    Synopsys Inc.*   468,494 
 1,404    Take-Two Interactive Software Inc.*   260,526 
 498    Tyler Technologies Inc.*   200,774 
 2,358    UiPath Inc., Class A Shares*(a)   188,216 
 86,045    UiPath Inc., Class A Shares, Private Placement*(c)(d)@   6,524,706 
 13,033    Workday Inc., Class A Shares*   2,980,908 
 15,337    Zoom Video Communications Inc., Class A Shares*   5,084,676 
      Total Software   605,845,729 
      TOTAL TECHNOLOGY   934,951,138 
UTILITIES - 1.7%     
Electric - 1.7%     
 427,886    AES Corp.   10,872,583 
 2,935    Alliant Energy Corp.   167,735 
 3,077    Ameren Corp.   259,083 
 6,004    American Electric Power Co., Inc.   516,344 
 6,478    CenterPoint Energy Inc.   163,893 
 298,735    Clearway Energy Inc., Class C Shares   8,015,060 
 3,525    CMS Energy Corp.   221,159 
 4,140    Consolidated Edison Inc.   319,774 
 9,740    Dominion Energy Inc.   741,604 
 2,343    DTE Energy Co.   323,311 
 9,293    Duke Energy Corp.   931,344 
 355,268    Edison International   19,848,823 
 2,434    Entergy Corp.   256,203 
 2,799    Evergy Inc.   173,510 
 4,147    Eversource Energy   336,695 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Large Cap Equity Fund (continued)

 

Shares/Units     Security  Value 
COMMON STOCKS - (continued)       
UTILITIES - 1.7% - (continued)       
Electric - 1.7% - (continued)     
 548,029    Exelon Corp.  $24,727,069 
 6,606    FirstEnergy Corp.   250,433 
 23,693    NextEra Energy Inc.   1,734,801 
 2,874    NRG Energy Inc.   92,399 
 1,324    Pinnacle West Capital Corp.   111,984 
 358,248    PPL Corp.   10,428,599 
 6,106    Public Service Enterprise Group Inc.   379,305 
 3,658    Sempra Energy   495,622 
 12,774    Southern Co.   816,514 
 3,813    WEC Energy Group Inc.   358,079 
 6,500    Xcel Energy Inc.   460,720 
      Total Electric   83,002,646 
Gas - 0.0%     
 1,505    Atmos Energy Corp.   149,251 
 4,603    NiSource Inc.   117,377 
      Total Gas   266,628 
Water - 0.0%     
 2,193    American Water Works Co., Inc.   339,959 
      TOTAL UTILITIES   83,609,233 
      TOTAL COMMON STOCKS     
      (Cost - $3,224,966,991)   4,882,081,883 
PREFERRED STOCKS - 0.6%     
CONSUMER CYCLICAL - 0.5%     
Auto Manufacturers - 0.5%     
 48,210    Aurora Innovation Inc., Series B, Private Placement*(c)(d)@   947,653 
 213,270    Rivian Automotive Inc., Series D, Private Placement*(c)(d)@   7,858,999 
 348,850    Rivian Automotive Inc., Series E, Private Placement*(c)(d)@   12,855,123 
 66,431    Rivian Automotive Inc., Series F, Private Placement*(c)(d)@   2,447,982 
 21,292    Sila Nanotechnologies Inc., Series F, Private Placement*(c)(d)@   878,780 
 9,549    Waymo LLC, Series A2, Private Placement*(c)(d)@   875,853 
      Total Auto Manufacturers   25,864,390 
      TOTAL CONSUMER CYCLICAL   25,864,390 
FINANCIAL - 0.0%     
Diversified Financial Services - 0.0%     
 1,020    Maplebear Inc. d/b/a Instacart, Series A*(c)(d)@   127,500 
 13,638    Maplebear Inc. d/b/a Instacart, Series G*(c)(d)@   1,704,750 
 2,066    Maplebear Inc. d/b/a Instacart, Series I*(c)(d)@   258,250 
      Total Diversified Financial Services   2,090,500 
      TOTAL FINANCIAL   2,090,500 
INDUSTRIAL - 0.1%     
Electrical Components & Equipment - 0.1%     
 48,400    GM Cruise Holdings LLC, Class F Shares, Private Placement*(c)(d)@   1,275,340 
 39,865    GM Cruise Holdings LLC, Class G Shares, Private Placement*(c)(d)@   1,050,443 
      Total Electrical Components & Equipment   2,325,783 
Machinery - 0.0%     
 108,389    Nuro Inc., Series C, Private Placement*(c)(d)@   1,414,975 
      TOTAL INDUSTRIAL   3,740,758 
TECHNOLOGY - 0.0%     
Software - 0.0%     
 3,977    Celonis SE, Private Placement*(c)(d)@   3,977 
 15,057    Magic Leap Inc., Series D, Private Placement*(c)(d)@   9,185 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Large Cap Equity Fund (continued)

 

Shares/Units    Security  Value 
PREFERRED STOCKS - (continued)       
TECHNOLOGY - 0.0% - (continued)       
Software - 0.0% - (continued)     
 20,620    Rappi Inc., Series E, Private Placement*(c)(d)@  $1,231,963 
      Total Software   1,245,125 
      TOTAL TECHNOLOGY   1,245,125 
      TOTAL PREFERRED STOCKS     
      (Cost - $18,254,799)   32,940,773 
EXCHANGE TRADED FUND (ETF) - 0.1%     
 16,568   

iShares Russell 1000 Value

(Cost - $2,433,353)

   2,669,602 
      TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS
(Cost - $3,245,655,143)
   4,917,692,258 
            
Face
Amount†
          
SHORT-TERM INVESTMENTS - 1.1%     
TIME DEPOSITS - 1.1%     
 1,114,922    ANZ National Bank - London, 0.005% due 6/1/21   1,114,922 
 23,349,040    Banco Bilbao Vizcaya Argentaria SA - Madrid, 0.005% due 6/1/21   23,349,040 
 11,306,283    BNP Paribas - Paris, 0.005% due 6/1/21   11,306,283 
 4  GBP   Citibank - London, 0.005% due 6/1/21   6 
 18,517,691    Skandinaviska Enskilda Banken AB - Stockholm, 0.005% due 6/1/21   18,517,691 
      TOTAL TIME DEPOSITS
(Cost - $54,287,942)
   54,287,942 
            
Shares/Units          
INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING - 0.1%     
MONEY MARKET FUND - 0.1%     
 7,368,489    Federated Government Obligations Fund, Premier Class, 0.025%(e)
(Cost - $7,368,489)
  $7,368,489 
      TOTAL INVESTMENTS - 100.1%
(Cost - $3,307,311,574)
   4,979,348,689 
      Liabilities in Excess of Other Assets - (0.1)%   (4,231,059)
      TOTAL NET ASSETS - 100.0%  $4,975,117,630 

 

 

# May 28, 2021 represents the last business day of the Fund’s fiscal first quarter.
Face amount denominated in U.S. dollars, unless otherwise noted.
* Non-income producing security.
(a) All or a portion of this security is on loan.
(b) Restricted security that may be sold to “qualified institutional buyers” pursuant to the conditions of Rule 144A under the Securities Act of 1933, as amended. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees, unless otherwise noted. The aggregate value of restricted 144A holdings at May 28, 2021, amounts to approximately $299,534 and represents 0.01% of net assets.  
(c) Illiquid security. The aggregate value of illiquid holdings at May 28, 2021, amounts to approximately $50,620,792 and represents 1.02% of net assets.
(d) Security is valued in good faith at fair value by or under the direction of the Board of Trustees using significant unobservable inputs.
(e) Represents investment of collateral received from securities lending transactions.
@ Restricted security – Investment in security not registered under the Securities Act of 1933. The investment is deemed to not be liquid and may be sold only to qualified buyers.

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Large Cap Equity Fund (continued)

 

Security 

First Acquisition

Date

  

First Acquisition

Cost

  

Market

Value

  

Percent of

Net Assets

 
Ant International Co., Ltd., Class C Shares, Private Placement   6/7/2018   $1,584,623   $1,991,371    0.04%
Aurora Innovation Inc., Series B, Private Placement   3/1/2019    445,475    947,653    0.02%
Celonis SE, Private Placement   5/6/2021    3,977    3,977    0.00%*
Epic Games Inc., Private Placement   6/18/2020    1,665,200    3,526,725    0.07%
GM Cruise Holdings LLC, Class F Shares, Private Placement   5/7/2019    883,300    1,275,340    0.03%
GM Cruise Holdings LLC, Class G Shares, Private Placement   1/21/2021    1,050,443    1,050,443    0.02%
Magic Leap Inc., Series D, Private Placement   10/12/2017    406,539    9,185    0.00%*
Maplebear Inc. d/b/a Instacart, Non-voting Shares   8/7/2020    16,171    43,625    0.00%*
Maplebear Inc. d/b/a Instacart, Private Placement   8/7/2020    309,464    834,875    0.02%
Maplebear Inc. d/b/a Instacart, Series A   11/18/2020    62,232    127,500    0.00%*
Maplebear Inc. d/b/a Instacart, Series G   7/2/2020    655,877    1,704,750    0.03%
Maplebear Inc. d/b/a Instacart, Series I   2/26/2021    258,250    258,250    0.01%
Nuro Inc., Series C, Private Placement   10/30/2020    940,662    1,414,975    0.03%
Rappi Inc., Series E, Private Placement   9/8/2020    1,231,963    1,231,963    0.02%
Redwood Materials Inc., Series C, Private Placement   5/28/2021    1,110,189    1,110,189    0.02%
Rivian Automotive Inc., Series D, Private Placement   12/23/2019    2,291,373    7,858,999    0.16%
Rivian Automotive Inc., Series E, Private Placement   7/10/2020    5,403,687    12,855,123    0.26%
Rivian Automotive Inc., Series F, Private Placement   1/19/2021    2,447,982    2,447,982    0.05%
Sila Nanotechnologies Inc., Series F, Private Placement   1/7/2021    878,780    878,780    0.02%
Social Finance Inc., Private Placement   12/30/2020    2,185,540    3,955,735    0.08%
Stripe Inc., Class B Shares, Private Placement   12/17/2019    313,988    802,982    0.02%
Uipath Inc., Class A Shares, Private Placement   12/11/2020    270,413    6,524,706    0.12%
Vimeo Inc., Class A, Private Placement   1/25/2021    561,730    1,117,368    0.02%
Waymo LLC, Series A2, Private Placement   5/8/2020    819,946    875,853    0.02%
Total            $52,848,349    1.06%

 

* Position represents less than 0.005%.

  

Abbreviations used in this schedule:
ADR American Depositary Receipts
LLC Limited Liability Company
LP Limited Partnership
PLC Public Limited Company

  

Summary of Investments by Security Sector^
Consumer Non-cyclical    23.9%
Communications    19.2 
Technology    18.8 
Financial    13.7 
Industrial    8.6 
Consumer Cyclical    7.0 
Energy    3.1 
Basic Materials    2.7 
Utilities    1.7 
Exchange Traded Funds (ETFs)   0.1 
Short-Term Investments   1.1 
Money Market Fund   0.1 
    100.0%

 

 

^ As a percentage of total investments.

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Large Cap Equity Fund (concluded)

 

At May 28, 2021, Destinations Large Cap Equity Fund had open exchange traded futures contracts as described below.    

 

The unrealized appreciation on the open contracts was as follows:

 

Open Futures Contracts  Number of
Contracts
   Expiration
Date (Month/Year)
   Notional
Amounts
   Market Value   Unrealized
Appreciation
 
Contracts to Buy:                         
S&P 500 E-mini Index June Futures   20    6/21   $3,990,476   $4,202,500   $212,024 

 

At May 28, 2021, Destinations Large Cap Equity Fund had deposited cash of $223,000 with a broker or brokers as margin collateral on open exchange traded futures contracts.

 

Currency Abbreviations used in this schedule:
GBP British Pound

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Small-Mid Cap Equity Fund

 

Shares/Units   Security  Value 
COMMON STOCKS - 94.5% 
BASIC MATERIALS - 5.9% 
Chemicals - 5.4% 
 23,800   Air Products & Chemicals Inc.  $7,131,908 
 77,200   Ashland Global Holdings Inc.   7,321,648 
 36,587   Cabot Corp.   2,326,201 
 66,600   Celanese Corp., Class A Shares   11,018,970 
 74,400   FMC Corp.   8,681,736 
 32,552   Ingevity Corp.*   2,679,355 
 21,147   Innospec Inc.   2,138,173 
 50,900   International Flavors & Fragrances Inc.   7,211,003 
 61,194   Olin Corp.   2,991,775 
 91,708   Orion Engineered Carbons SA*   1,856,170 
 39,500   PPG Industries Inc.   7,098,940 
 22,550   Rogers Corp.*   4,224,742 
 35,435   Tronox Holdings PLC, Class A Shares   832,014 
 109,320   Valvoline Inc.   3,607,560 
     Total Chemicals   69,120,195 
Iron/Steel - 0.1%     
 45,397   Cleveland-Cliffs Inc.*   913,388 
Mining - 0.4%         
 11,945   Arconic Corp.*   432,051 
 64,620   Gatos Silver Inc.*(a)   1,101,125 
 46,438   Hudbay Minerals Inc.   351,536 
 13,158   Kaiser Aluminum Corp.   1,702,513 
 154,882   Livent Corp.*   3,021,748 
 14,110   MP Materials Corp.*(a)   396,209 
     Total Mining   7,005,182 
     TOTAL BASIC MATERIALS   77,038,765 
COMMUNICATIONS - 6.8%     
Internet - 2.2%         
 110,857   CarParts.com Inc.*   1,811,403 
 277,234   ChannelAdvisor Corp.*   6,578,763 
 24,712   Cogent Communications Holdings Inc.   1,868,227 
 160,383   Eventbrite Inc., Class A Shares*   3,255,775 
 75,879   fuboTV Inc.*(a)   1,801,367 
 212,411   HyreCar Inc.*(a)   3,485,665 
 93,190   Liquidity Services Inc.*   2,228,173 
 114,295   Open Lending Corp., Class A Shares*   4,409,501 
 124,500   Perion Network Ltd.*   2,059,230 
 11,701   Revolve Group Inc., Class A Shares*   648,703 
 1,447   Roku Inc., Class A Shares*   501,689 
 43,072   RumbleON Inc., Class B Shares*(a)   1,740,540 
     Total Internet   30,389,036 
Media - 0.4%         
 208,303   TEGNA Inc.   4,038,995 
Telecommunications - 4.2%       
 96,169   Aviat Networks Inc.*   3,554,406 
 211,161   Calix Inc.*   9,356,544 
 126,711   Cambium Networks Corp.*   7,312,492 
 47,507   Clearfield Inc.*   1,796,715 
 307,179   Harmonic Inc.*   2,141,038 
 330,200   Juniper Networks Inc.   8,694,166 
 68,900   Motorola Solutions Inc.   14,145,859 
 150,168   Sierra Wireless Inc.*(a)   2,336,614 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units   Security Value 
COMMON STOCKS - (continued)     
COMMUNICATIONS - 6.8% - (continued)     
Telecommunications - 4.2% - (continued)     
 265,528   Viavi Solutions Inc.*  $4,654,706 
     Total Telecommunications   53,992,540 
     TOTAL COMMUNICATIONS   88,420,571 
CONSUMER CYCLICAL - 14.4%     
Airlines - 1.0%        
 14,056   Alaska Air Group Inc.*   972,675 
 3,172   Allegiant Travel Co.*   702,471 
 90,684   Mesa Air Group Inc.*   881,448 
 151,848   Spirit Airlines Inc.*   5,422,492 
 88,350   Sun Country Airlines Holdings Inc.*(a)   3,286,620 
     Total Airlines   11,265,706 
Apparel - 1.2%         
 15,123   Carter's Inc.   1,546,175 
 58,000   Columbia Sportswear Co.   5,958,340 
 12,338   Crocs Inc.*   1,249,099 
 1,588   Deckers Outdoor Corp.*   532,679 
 25,442   Oxford Industries Inc.   2,436,071 
 53,200   Steven Madden Ltd.   2,202,480 
 12,556   Tapestry Inc.*   563,639 
 41,122   Urban Outfitters Inc.*   1,610,338 
     Total Apparel   16,098,821 
Auto Parts & Equipment - 1.7%     
 13,756   Dorman Products Inc.*   1,408,339 
 34,724   Fox Factory Holding Corp.*   5,398,888 
 6,177   Gentherm Inc.*   448,018 
 105,679   Goodyear Tire & Rubber Co.*   2,095,615 
 135,489   Modine Manufacturing Co.*   2,383,251 
 128,950   Shyft Group Inc.   5,026,471 
 2,096   Visteon Corp.*   256,676 
 70,688   XPEL Inc.*   5,796,416 
     Total Auto Parts & Equipment   22,813,674 
Distribution/Wholesale - 0.2%     
 16,922   H&E Equipment Services Inc.   632,883 
 41,438   Titan Machinery Inc.*   1,271,318 
     Total Distribution/Wholesale   1,904,201 
Entertainment - 1.6%       
 113,441   Bally's Corp.*   6,582,981 
 10,182   Caesars Entertainment Inc.*   1,094,056 
 1,916   Churchill Downs Inc.   382,299 
 267,252   Everi Holdings Inc.*   5,540,134 
 69,652   GAN Ltd.*(a)   1,204,980 
 82,607   NEOGAMES SA*(a)   5,295,109 
 11,740   SeaWorld Entertainment Inc.*   639,008 
 11,559   Six Flags Entertainment Corp.*   525,125 
     Total Entertainment   21,263,692 
Home Builders - 0.7%       
 34,471   Century Communities Inc.*   2,805,250 
 1,710   LGI Homes Inc.*   309,185 
 93,797   Skyline Champion Corp.*   4,750,818 
 8,785   Winnebago Industries Inc.   649,739 
     Total Home Builders   8,514,992 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units   Security   Value 
COMMON STOCKS - (continued)     
CONSUMER CYCLICAL - 14.4% - (continued)     
Home Furnishings - 0.7%     
 92,694   Lovesac Co.*  $7,695,456 
 26,376   Vizio Holding Corp., Class A Shares*   576,052 
 107,730   VOXX International Corp., Class A Shares*   1,620,259 
     Total Home Furnishings   9,891,767 
Housewares - 0.0%       
 1,243   Scotts Miracle-Gro Co.   270,191 
Leisure Time - 1.5%       
 7,132   BRP Inc.   601,442 
 64,215   Callaway Golf Co.*   2,370,818 
 136,999   Lindblad Expeditions Holdings Inc.*   2,331,723 
 51,051   Malibu Boats Inc., Class A Shares*   4,003,419 
 204,237   Vista Outdoor Inc.*   8,902,691 
     Total Leisure Time   18,210,093 
Lodging - 0.9%        
 265,567   Full House Resorts Inc.*   2,990,284 
 119,900   Wyndham Hotels & Resorts Inc.   8,999,694 
     Total Lodging   11,989,978 
Retail - 4.7%         
 69,180   Abercrombie & Fitch Co., Class A Shares*   2,953,986 
 43,800   Advance Auto Parts Inc.   8,310,174 
 89,337   American Eagle Outfitters Inc.   3,165,210 
 142,627   Aspen Aerogels Inc.*   2,892,476 
 57,194   At Home Group Inc.*   2,147,063 
 50,872   BJ's Restaurants Inc.*   2,812,204 
 103,536   Boot Barn Holdings Inc.*   7,909,115 
 3,887   Brinker International Inc.*   238,856 
 43,600   Darden Restaurants Inc.   6,244,828 
 176,381   Designer Brands Inc., Class A Shares*   3,084,904 
 141,600   Foot Locker Inc.   8,961,864 
 2,166   Freshpet Inc.*   382,992 
 156,111   GrowGeneration Corp.*   6,932,889 
 2,637   Lithia Motors Inc., Class A Shares   928,198 
 33,647   Murphy USA Inc.   4,535,952 
 15,799   Texas Roadhouse Inc., Class A Shares   1,591,117 
     Total Retail   63,091,828 
Toys/Games/Hobbies - 0.2%     
 110,248   Funko Inc., Class A Shares*   2,894,010 
     TOTAL CONSUMER CYCLICAL   188,208,953 
CONSUMER NON-CYCLICAL - 17.7%     
Agriculture - 0.2%       
 72,520   Turning Point Brands Inc.   3,101,680 
Beverages - 1.1%     
 140,207   Celsius Holdings Inc.*   9,189,167 
 132,090   Duckhorn Portfolio Inc.*(a)   2,401,396 
 31,851   MGP Ingredients Inc.   2,219,696 
     Total Beverages   13,810,259 
Biotechnology - 3.4%       
 130,907   Agrify Corp.*(a)   1,226,599 
 43,224   Apellis Pharmaceuticals Inc.*   2,432,647 
 80,686   Applied Therapeutics Inc.*   1,551,592 
 337,020   Ardelyx Inc.*   2,409,693 
 941   Argenx SE, ADR*   262,530 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units   Security Value 
COMMON STOCKS - (continued)     
CONSUMER NON-CYCLICAL - 17.7% - (continued)     
Biotechnology - 3.4% - (continued)     
 137,696   Avid Bioservices Inc.*  $2,930,171 
 73,252   Biomea Fusion Inc.*   1,267,992 
 3,625   Blueprint Medicines Corp.*   331,144 
 52,275   Celldex Therapeutics Inc.*   1,461,086 
 75,289   Cogent Biosciences Inc.*(a)   652,003 
 208,857   Crinetics Pharmaceuticals Inc.*   3,665,440 
 72,574   Day One Biopharmaceuticals Inc.*(b)   1,719,278 
 58,082   Essa Pharma Inc.*   1,836,553 
 126,385   EyePoint Pharmaceuticals Inc.*(a)   1,242,365 
 159,620   Gamida Cell Ltd.*   1,035,934 
 2,190   Guardant Health Inc.*   271,823 
 18,570   Halozyme Therapeutics Inc.*   768,984 
 9,496   Intra-Cellular Therapies Inc.*   374,237 
 12,116   Maravai LifeSciences Holdings Inc., Class A Shares*   454,835 
 1,451   Mirati Therapeutics Inc.*   229,476 
 68,566   NeoGenomics Inc.*   2,813,263 
 8,801   Olink Holding AB, ADR*   310,939 
 156,350   Relay Therapeutics Inc.*   5,021,962 
 108,929   SpringWorks Therapeutics Inc.*   8,882,071 
 76,317   VectivBio Holding AG*   1,137,123 
 89,343   Xenon Pharmaceuticals Inc.*   1,650,165 
     Total Biotechnology   45,939,905 
Commercial Services - 2.1%       
 7,224   AMN Healthcare Services Inc.*   640,769 
 4,236   ASGN Inc.*   436,689 
 5,125   Avis Budget Group Inc.*   450,077 
 33,438   Cross Country Healthcare Inc.*   523,305 
 86,400   Global Payments Inc.   16,736,544 
 4,538   Herc Holdings Inc.*   521,961 
 52,258   Huron Consulting Group Inc.*   2,859,035 
 58,715   Kelly Services Inc., Class A Shares*   1,507,214 
 60,848   Korn Ferry   3,980,068 
 173,781   Team Inc.*   1,477,139 
     Total Commercial Services   29,132,801 
Cosmetics/Personal Care - 0.2%     
 209,488   Beauty Health Co.*   2,983,109 
Food - 2.0%         
 22,297   BellRing Brands Inc., Class A Shares*   639,478 
 34,877   Cal-Maine Foods Inc.   1,217,556 
 31,476   Hain Celestial Group Inc.*   1,282,962 
 178,652   Hostess Brands Inc., Class A Shares*   2,801,263 
 50,279   Ingredion Inc.   4,772,985 
 30,332   Laird Superfood Inc.*(a)   991,250 
 22,118   Sanderson Farms Inc.   3,599,705 
 359,973   SunOpta Inc.*   4,499,663 
 104,324   TreeHouse Foods Inc.*   5,081,622 
     Total Food   24,886,484 
Healthcare-Products - 5.5%       
 261,373   Alphatec Holdings Inc.*   3,789,908 
 7,620   AtriCure Inc.*   569,443 
 51,767   Axogen Inc.*   1,050,870 
 63,130   Axonics Inc.*   3,641,970 
 60,244   Castle Biosciences Inc.*   3,610,423 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units   Security Value 
COMMON STOCKS - (continued)     
CONSUMER NON-CYCLICAL - 17.7% - (continued)     
Healthcare-Products - 5.5% - (continued)     
 98,012   Envista Holdings Corp.*  $4,277,244 
 3,029   Inari Medical Inc.*   263,372 
 22,235   Inspire Medical Systems Inc.*   4,320,260 
 45,043   Integra LifeSciences Holdings Corp.*   3,110,219 
 70,786   Natera Inc.*   6,663,794 
 34,522   NuVasive Inc.*   2,354,400 
 104,800   PerkinElmer Inc.   15,203,336 
 39,605   Quanterix Corp.*   2,039,261 
 1,490   Repligen Corp.*   272,089 
 157,816   SeaSpine Holdings Corp.*   3,216,290 
 3,251   Shockwave Medical Inc.*   584,855 
 249,795   Sientra Inc.*   1,738,573 
 43,206   Treace Medical Concepts Inc.*(a)   1,402,035 
 78,200   Zimmer Biomet Holdings Inc.   13,163,406 
     Total Healthcare-Products   71,271,748 
Healthcare-Services - 1.3%       
 29,500   Humana Inc.   12,912,150 
 11,112   Invitae Corp.*   319,803 
 2,548   Medpace Holdings Inc.*   425,669 
 107,914   SI-BONE Inc.*   3,255,765 
     Total Healthcare-Services   16,913,387 
Household Products/Wares - 0.1%     
 19,735   Spectrum Brands Holdings Inc.   1,754,244 
Pharmaceuticals - 1.8%       
 70,665   Centessa Pharmaceuticals PLC*   1,536,964 
 245,078   Cytokinetics Inc.*   5,350,053 
 104,308   Fulcrum Therapeutics Inc.*   931,470 
 46,614   Intellia Therapeutics Inc.*   3,493,253 
 91,336   Merus NV*   1,931,756 
 60,056   Mirum Pharmaceuticals Inc.*   993,326 
 24,528   Morphic Holding Inc.*   1,210,702 
 76,643   Prestige Consumer Healthcare Inc.*   3,822,186 
 300,452   ProQR Therapeutics NV*   1,874,820 
 34,495   Revance Therapeutics Inc.*   1,021,397 
     Total Pharmaceuticals   22,165,927 
     TOTAL CONSUMER NON-CYCLICAL   231,959,544 
DIVERSIFIED - 0.2%       
SPACs - 0.2%        
 196,483   CM Life Sciences III Inc.*   2,096,474 
 14,875   CM Life Sciences Inc., Class A Shares*(a)   188,317 
     Total SPACs   2,284,791 
     TOTAL DIVERSIFIED   2,284,791 
ENERGY - 3.3%     
Energy-Alternate Sources - 0.4%     
 159,469   Green Plains Inc.*   5,085,466 
Oil & Gas - 2.1%     
 108,735   Bonanza Creek Energy Inc.*   4,671,256 
 6,555   Cimarex Energy Co.   444,101 
 115,200   EOG Resources Inc.   9,255,168 
 65,267   Helmerich & Payne Inc.   1,843,793 
 44,349   Magnolia Oil & Gas Corp., Class A Shares*   572,989 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units   Security Value 
COMMON STOCKS - (continued)     
ENERGY - 3.3% - (continued)    
Oil & Gas - 2.1% - (continued)    
 216,101   Matador Resources Co.  $6,621,335 
 78,238   PDC Energy Inc.*   3,303,208 
     Total Oil & Gas   26,711,850 
Oil & Gas Services - 0.8%       
 273,600   Baker Hughes Co., Class A Shares   6,675,840 
 56,121   DMC Global Inc.*   2,972,729 
 87,433   Select Energy Services Inc., Class A Shares*   496,620 
 69,580   US Silica Holdings Inc.*   713,891 
     Total Oil & Gas Services   10,859,080 
     TOTAL ENERGY   42,656,396 
FINANCIAL - 15.7%       
Banks - 6.4%         
 129,814   Bank of NT Butterfield & Son Ltd.   4,951,106 
 145,495   BankUnited Inc.   6,953,206 
 4,450   First Citizens BancShares Inc., Class A Shares   3,829,670 
 428,961   FNB Corp.   5,752,367 
 80,635   Live Oak Bancshares Inc.   4,884,868 
 75,120   Meta Financial Group Inc.   3,982,111 
 226,927   PacWest Bancorp   10,250,293 
 79,564   Pinnacle Financial Partners Inc.   7,233,959 
 42,200   Signature Bank   10,539,450 
 33,458   Silvergate Capital Corp., Class A Shares*   3,727,221 
 67,193   Triumph Bancorp Inc.*   5,627,414 
 267,594   Umpqua Holdings Corp.   5,105,693 
 98,761   Univest Financial Corp.   2,879,871 
 74,984   Western Alliance Bancorp   7,499,150 
     Total Banks   83,216,379 
Diversified Financial Services - 1.9%     
 89,307   Cowen Inc., Class A Shares   3,512,444 
 63,600   Raymond James Financial Inc.   8,432,724 
 265,300   Synchrony Financial   12,577,873 
     Total Diversified Financial Services   24,523,041 
Equity Real Estate Investment Trusts (REITs) - 2.5%     
 59,080   American Campus Communities Inc.   2,786,213 
 134,200   Americold Realty Trust   5,102,284 
 327,481   Chimera Investment Corp.   4,627,306 
 152,009   Columbia Property Trust Inc.   2,658,637 
 68,640   Corporate Office Properties Trust   1,894,464 
 88,836   Dynex Capital Inc.   1,736,744 
 148,098   Lexington Realty Trust   1,833,453 
 45,800   SBA Communications Corp., Class A Shares   13,653,896 
     Total Equity Real Estate Investment Trusts (REITs)   34,292,997 
Insurance - 3.6%        
 139,000   American International Group Inc.   7,344,760 
 43,000   Arthur J Gallagher & Co.   6,304,230 
 83,598   BRP Group Inc., Class A Shares*   2,054,839 
 13,285   Goosehead Insurance Inc., Class A Shares   1,193,923 
 33,974   Hanover Insurance Group Inc.   4,739,033 
 100,000   Hartford Financial Services Group Inc.   6,535,000 
 30,160   Kemper Corp.   2,258,079 
 366,672   MGIC Investment Corp.   5,397,412 
 17,726   Midwest Holding Inc.*   736,338 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units    Security  Value 
COMMON STOCKS - (continued)       
FINANCIAL - 15.7% - (continued)       
Insurance - 3.6% - (continued)     
 12,561    NMI Holdings Inc., Class A Shares*  $303,851 
 132,397    Trean Insurance Group Inc.*   2,224,270 
 73,000    WR Berkley Corp.   5,693,270 
      Total Insurance   44,785,005 
Investment Companies - 0.2%     
 132,657    Grid Dynamics Holdings Inc.*   2,038,938 
Private Equity - 0.3%     
 254,123    Hercules Capital Inc.   4,315,009 
Real Estate - 0.3%     
 352,077    Newmark Group Inc., Class A Shares   4,541,793 
Savings & Loans - 0.5%     
 265,230    Sterling Bancorp   7,065,727 
      TOTAL FINANCIAL   204,778,889 
INDUSTRIAL - 16.2%       
Aerospace/Defense - 1.0%       
 2,721    AeroVironment Inc.*   298,303 
 366,745    Embraer SA, ADR*   4,910,716 
 47,781    Hexcel Corp.*   2,841,058 
 25,800    L3Harris Technologies Inc.   5,625,948 
      Total Aerospace/Defense   13,676,025 
Building Materials - 0.6%     
 35,694    Masonite International Corp.*   4,267,218 
 28,563    Patrick Industries Inc.   2,447,849 
 24,779    Summit Materials Inc., Class A Shares*   862,805 
 4,205    Trex Co., Inc.*   409,609 
      Total Building Materials   7,987,481 
Electrical Components & Equipment - 0.4%    
 54,468    Belden Inc.   2,756,081 
 32,687    Energizer Holdings Inc.   1,504,910 
 1,913    Generac Holdings Inc.*   628,841 
      Total Electrical Components & Equipment   4,889,832 
Electronics - 2.9%     
 89,600    Agilent Technologies Inc.   12,376,448 
 81,856    Camtek Ltd.*   2,985,288 
 71,800    Fortive Corp.   5,206,936 
 29,500    Hubbell Inc., Class B Shares   5,623,880 
 31,367    Vicor Corp.*   2,825,539 
 75,700    Woodward Inc.   9,627,526 
      Total Electronics   38,645,617 
Engineering & Construction - 0.3%     
 17,515    EMCOR Group Inc.   2,208,817 
 2,928    Exponent Inc.   267,122 
 13,931    Latham Group Inc.*   432,697 
 17,967    NV5 Global Inc.*   1,640,926 
      Total Engineering & Construction   4,549,562 
Environmental Control - 0.9%     
 49,597   Clean Harbors Inc.*   4,617,481 
 114,528   Harsco Corp.*   2,567,718 
 86,699   Montrose Environmental Group Inc.*   4,347,088 
     Total Environmental Control   11,532,287 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units   Security  Value 
COMMON STOCKS - (continued)     
INDUSTRIAL - 16.2% - (continued)     
Hand/Machine Tools - 0.8%     
 38,634   Regal Beloit Corp.  $5,494,914 
 25,700   Stanley Black & Decker Inc.   5,571,760 
     Total Hand/Machine Tools   11,066,674 
Machinery-Construction & Mining - 1.6%     
 54,410   BWX Technologies Inc.   3,402,801 
 117,653   Terex Corp.   6,161,488 
 399,200   Vertiv Holdings Co., Class A Shares   9,908,144 
     Total Machinery-Construction & Mining   19,472,433 
Machinery-Diversified - 3.4%     
 67,016   Altra Industrial Motion Corp.   4,402,281 
 108,501   Cactus Inc., Class A Shares   3,801,875 
 31,570   Chart Industries Inc.*   4,607,326 
 50,000   CIRCOR International Inc.*   1,881,500 
 41,914   Gates Industrial Corp. PLC*   761,158 
 22,232   GrafTech International Ltd.   295,241 
 72,184   Hydrofarm Holdings Group Inc.*   4,496,341 
 6,104   Kornit Digital Ltd.*   636,037 
 43,000   Nordson Corp.   9,532,670 
 74,553   Ranpak Holdings Corp., Class A Shares*   1,646,130 
 38,800   Rockwell Automation Inc.   10,232,336 
 42,516   SPX FLOW Inc.   2,917,873 
     Total Machinery-Diversified   45,210,768 
Metal Fabricate/Hardware - 1.0%     
 3,775   Advanced Drainage Systems Inc.   428,161 
 210,988   Rexnord Corp.   10,543,070 
 32,197   Standex International Corp.   3,208,109 
     Total Metal Fabricate/Hardware   14,179,340 
Miscellaneous Manufacturers - 1.8%     
 1,568   Axon Enterprise Inc.*   220,445 
 73,233   Enerpac Tool Group Corp., Class A Shares   2,006,584 
 32,591   EnPro Industries Inc.   2,998,046 
 31,735   Hillenbrand Inc.   1,447,116 
 54,189   ITT Inc.   5,088,347 
 1,533   John Bean Technologies Corp.   220,798 
 38,000   Parker-Hannifin Corp.   11,709,700 
     Total Miscellaneous Manufacturers   23,691,036 
Packaging & Containers - 0.7%     
 111,268   Karat Packaging Inc.*   2,114,092 
 180,093   O-I Glass Inc.*   3,319,114 
 45,734   Silgan Holdings Inc.   1,926,773 
     Total Packaging & Containers   7,359,979 
Transportation - 0.8%     
 83,076   CryoPort Inc.*   4,645,610 
 1,438   Saia Inc.*   330,970 
 242,537   Star Bulk Carriers Corp.(a)   4,731,897 
 7,103   ZIM Integrated Shipping Services Ltd.*   329,579 
     Total Transportation   10,038,056 
     TOTAL INDUSTRIAL   212,299,090 
TECHNOLOGY - 11.0%     
Computers - 0.8%     
 12,356   CACI International Inc., Class A Shares*   3,150,286 
 46,475   Endava PLC, ADR*   4,767,405 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units   Security  Value 
COMMON STOCKS - (continued)     
TECHNOLOGY - 11.0% - (continued)     
Computers - 0.8% - (continued)     
 28,065   ExlService Holdings Inc.*  $2,862,069 
 1,777   Zscaler Inc.*   345,093 
     Total Computers   11,124,853 
Semiconductors - 6.7%     
 5,728   Ambarella Inc.*   574,977 
 105,121   Axcelis Technologies Inc.*   4,356,214 
 96,294   AXT Inc.*   980,273 
 63,107   Cohu Inc.*   2,348,843 
 61,333   FormFactor Inc.*   2,161,988 
 52,766   Impinj Inc.*   2,746,470 
 48,200   KLA Corp.   15,274,098 
 7,755   Lattice Semiconductor Corp.*   411,558 
 37,049   MACOM Technology Solutions Holdings Inc.*   2,193,301 
 334,900   Marvell Technology Inc.   16,175,670 
 99,700   NXP Semiconductors NV   21,078,574 
 48,504   SiTime Corp.*   4,769,398 
 118,774   SkyWater Technology Inc.*   3,092,875 
 5,504   Synaptics Inc.*   695,320 
 180,572   Ultra Clean Holdings Inc.*   10,171,621 
     Total Semiconductors   87,031,180 
Software - 3.5%     
 10,894   ACV Auctions Inc., Class A Shares*   282,372 
 187,451   Avaya Holdings Corp.*   5,376,095 
 22,405   Cardlytics Inc.*   2,387,253 
 110,300   Citrix Systems Inc.   12,680,088 
 19,733   Digital Turbine Inc.*   1,305,733 
 82,210   Docebo Inc.*   4,260,122 
 3,249   Five9 Inc.*   575,398 
 53,600   Jack Henry & Associates Inc.   8,262,440 
 46,575   Motorsport Games Inc., Class A Shares*(a)   756,378 
 46,667   Phreesia Inc.*   2,310,017 
 83,085   PubMatic Inc., Class A Shares*(a)   2,456,823 
 154,872   Rackspace Technology Inc.*(a)   3,125,317 
 8,084   Sprout Social Inc., Class A Shares*   561,191 
 17,323   Teradata Corp.*   829,252 
     Total Software   45,168,479 
     TOTAL TECHNOLOGY   143,324,512 
UTILITIES - 3.3%     
Electric - 3.1%     
 81,500   Ameren Corp.   6,862,300 
 41,449   Black Hills Corp.   2,726,930 
 107,900   CMS Energy Corp.   6,769,646 
 81,000   Eversource Energy   6,576,390 
 12,180   Evoqua Water Technologies Corp.*   379,042 
 33,359   IDACORP Inc.   3,267,514 
 163,001   Portland General Electric Co.   7,814,268 
 49,800   Sempra Energy   6,747,402 
     Total Electric   41,143,492 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units    Security  Value 
COMMON STOCKS - (continued)     
UTILITIES - 3.3% - (continued)     
Gas - 0.2%     
 30,140   Spire Inc.  $2,159,832 
     TOTAL UTILITIES   43,303,324 
     TOTAL COMMON STOCKS     
     (Cost - $920,728,619)   1,234,274,835 
EXCHANGE TRADED FUNDS (ETFs) - 3.8%     
 160,784   iShares Russell 2000(a)   36,256,792 
 178,289   iShares Russell Mid-Capital   13,965,377 
     TOTAL EXCHANGE TRADED FUNDS (ETFs)     
     (Cost - $40,988,803)   50,222,169 
     TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS     
     (Cost - $961,717,422)   1,284,497,004 

 

Face
Amount
        
SHORT-TERM INVESTMENTS - 2.0%     
TIME DEPOSITS - 2.0%     
$602,890   ANZ National Bank - London, 0.005% due 6/1/21   602,890 
 11,184,009   BNP Paribas - Paris, 0.005% due 6/1/21   11,184,009 
 11,699,873   DnB NORBank ASA - Oslo, 0.005% due 6/1/21   11,699,873 
 2,879,276   Skandinaviska Enskilda Banken AB - Stockholm, 0.005% due 6/1/21   2,879,276 
     TOTAL TIME DEPOSITS     
     (Cost - $26,366,048)   26,366,048 

 

Shares/Units        
INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING - 3.1%     
MONEY MARKET FUND - 3.1%     
 40,509,138   Federated Government Obligations Fund, Premier Class, 0.025%(c)      
     (Cost - $40,509,138)  $40,509,138 
     TOTAL INVESTMENTS - 103.4%     
     (Cost - $1,028,592,608)   1,351,372,190 
     Liabilities in Excess of Other Assets - (3.4)%   (44,105,821)
     TOTAL NET ASSETS - 100.0%  $1,307,266,369 

 

#May 28, 2021 represents the last business day of the Fund’s fiscal first quarter.
*Non-income producing security.
(a)All or a portion of this security is on loan.
 (b)Illiquid security. The aggregate value of illiquid holdings at May 28, 2021, amounts to approximately $1,719,278 and represents 0.13% of net assets.
(c)Represents investment of collateral received from securities lending transactions.

 

Abbreviations used in this schedule:
ADR American Depositary Receipts
PLC Public Limited Company

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Small-Mid Cap Equity Fund (concluded)

 

Summary of Investments by Security Sector^
Consumer Non-cyclical    17.2%
Industrial    15.7 
Financial    15.1 
Consumer Cyclical    13.9 
Technology    10.6 
Communications    6.5 
Basic Materials    5.7 
Utilities    3.2 
Energy    3.2 
Diversified    0.2 
Exchange Traded Funds (ETFs)   3.7 
Short-Term Investments   2.0 
Money Market Fund   3.0 
    100.0%

____________________________

^ As a percentage of total investments.

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)

 

Destinations Equity Income Fund 

 

Shares/Units   Security  Value 
COMMON STOCKS - 88.4%
BASIC MATERIALS - 2.0%
Chemicals - 1.5%
 12,268   Air Liquide SA  $2,087,933 
 27,161   DuPont de Nemours Inc.   2,297,549 
 39,730   Nutrien Ltd.   2,471,979 
     Total Chemicals   6,857,461 
Mining - 0.5%
 68,299   BHP Group PLC   2,057,823 
     TOTAL BASIC MATERIALS   8,915,284 
COMMUNICATIONS - 12.0%
Advertising - 0.5%
 130,300   Hakuhodo DY Holdings Inc.   2,229,105 
Media - 0.7%
 55,932   Comcast Corp., Class A Shares   3,207,141 
Telecommunications - 10.8%
 267,947   AT&T Inc.   7,885,680 
 183,850   BCE Inc.   9,144,539 
 149,918   Cisco Systems Inc.   7,930,662 
 102,755   SK Telecom Co., Ltd., ADR   3,292,270 
 158,726   Verizon Communications Inc.   8,966,432 
 5,455,268   Vodafone Group PLC   9,933,135 
     Total Telecommunications   47,152,718 
     TOTAL COMMUNICATIONS   52,588,964 
CONSUMER CYCLICAL - 5.6%
Auto Manufacturers - 0.6%
 41,801   General Motors Co.*   2,479,217 
Distribution/Wholesale - 0.8%
 147,200   Mitsui & Co., Ltd.   3,274,759 
Home Builders - 0.9%
 37,998   PulteGroup Inc.   2,195,904 
 804,995   Taylor Wimpey PLC   1,958,157 
     Total Home Builders   4,154,061 
Retail - 2.5%
 15,830   Darden Restaurants Inc.   2,267,331 
 60,835   Industria de Diseno Textil SA   2,368,090 
 9,749   Lowe's Cos., Inc.   1,899,398 
 1,599,010   Topsports International Holdings Ltd.   2,476,546 
 14,463   Walmart Inc.   2,054,180 
     Total Retail   11,065,545 
Toys/Games/Hobbies - 0.8%
 5,665   Nintendo Co., Ltd.   3,505,714 
     TOTAL CONSUMER CYCLICAL   24,479,296 
CONSUMER NON-CYCLICAL - 24.8%
Agriculture - 5.2%
 238,170   British American Tobacco PLC   9,170,235 
 141,168   Philip Morris International Inc.   13,612,830 
     Total Agriculture   22,783,065 
Beverages - 1.7%
 50,786   Coca-Cola Co.   2,807,958 
 33,510   PepsiCo Inc.   4,957,469 
     Total Beverages   7,765,427 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)

 

Destinations Equity Income Fund (continued)

         
Shares/Units   Security  Value 
COMMON STOCKS - (continued)
CONSUMER NON-CYCLICAL - 24.8% - (continued)
Biotechnology - 2.4%
 8,300   Amgen Inc.  $1,974,902 
 125,500   Gilead Sciences Inc.   8,296,805 
     Total Biotechnology   10,271,707 
Cosmetics/Personal Care - 1.9%
 140,843   Unilever PLC   8,448,114 
Food - 2.0%
 57,550   General Mills Inc.   3,617,593 
 72,300   Seven & i Holdings Co., Ltd.   3,191,903 
 1,018,000   Tingyi Cayman Islands Holding Corp.   1,936,087 
     Total Food   8,745,583 
Healthcare-Products - 0.7%
 25,007   Medtronic PLC   3,165,636 
Healthcare-Services - 1.5%
 9,689   Anthem Inc.   3,858,354 
 31,769   Fresenius Medical Care AG & Co. KGaA   2,548,468 
     Total Healthcare-Services   6,406,822 
Household Products/Wares - 0.7%
 23,750   Kimberly-Clark Corp.   3,102,462 
Pharmaceuticals - 8.7%
 100,201   AbbVie Inc.   11,342,753 
 20,472   AstraZeneca PLC   2,337,674 
 32,258   Bristol-Myers Squibb Co.   2,119,996 
 180,798   GlaxoSmithKline PLC   3,449,063 
 91,835   Merck & Co., Inc.   6,969,358 
 273,250   Pfizer Inc.   10,582,972 
 12,580   Sanofi   1,349,422 
     Total Pharmaceuticals   38,151,238 
     TOTAL CONSUMER NON-CYCLICAL   108,840,054 
ENERGY - 9.8%
Oil & Gas - 5.9%
 134,943   Chevron Corp.   14,005,734 
 198,420   Exxon Mobil Corp.   11,581,775 
     Total Oil & Gas   25,587,509 
Pipelines - 3.9%
 242,100   Enbridge Inc.   9,317,091 
 152,737   Enterprise Products Partners LP   3,606,120 
 86,350   TC Energy Corp.   4,412,968 
     Total Pipelines   17,336,179 
     TOTAL ENERGY   42,923,688 
FINANCIAL - 14.1%
Banks - 10.0%
 277,934   Bank Leumi Le-Israel BM*   2,230,145 
 53,252   Bank of America Corp.   2,257,352 
 80,025   Canadian Imperial Bank of Commerce   9,441,293 
 54,486   Citigroup Inc.   4,288,593 
 201,075   ING Groep NV   2,799,328 
 23,229   JPMorgan Chase & Co.   3,815,131 
 288,675   KeyCorp   6,651,072 
 128,250   Nordea Bank Abp   1,390,091 
 279,852   Oversea-Chinese Banking Corp., Ltd.   2,645,204 
 98,252   Regions Financial Corp.   2,300,079 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)

 

Destinations Equity Income Fund (continued) 

         
Shares/Units   Security  Value 
COMMON STOCKS - (continued)
FINANCIAL - 14.1% - (continued)
Banks - 10.0% - (continued)
 62,935   Truist Financial Corp.  $3,888,124 
 41,398   US Bancorp   2,516,170 
     Total Banks   44,222,582 
Diversified Financial Services - 1.0%
 10,799   Deutsche Boerse AG   1,766,672 
 101,963   Western Union Co.   2,495,035 
     Total Diversified Financial Services   4,261,707 
Equity Real Estate Investment Trusts (REITs) - 0.6%
 53,170   National Retail Properties Inc.   2,464,430 
Insurance - 2.5%
 48,839   Ageas SA/NV   3,163,783 
 9,270   Allianz SE, Class Registered Shares   2,461,613 
 9,353   Everest Re Group Ltd.   2,431,406 
 6,768   Zurich Insurance Group AG   2,849,407 
     Total Insurance   10,906,209 
     TOTAL FINANCIAL   61,854,928 
INDUSTRIAL - 4.5%
Aerospace/Defense - 1.0%
 143,520   BAE Systems PLC   1,072,598 
 16,635   General Dynamics Corp.   3,159,153 
     Total Aerospace/Defense   4,231,751 
Engineering & Construction - 0.4%
 46,678   Bouygues SA   1,900,686 
Miscellaneous Manufacturers - 2.0%
 17,475   3M Co.   3,548,124 
 14,168   Eaton Corp. PLC   2,057,902 
 17,411   Siemens AG, Class Registered Shares   2,864,293 
     Total Miscellaneous Manufacturers   8,470,319 
Transportation - 1.1%
 73,597   Deutsche Post AG, Class Registered Shares   5,003,648 
     TOTAL INDUSTRIAL   19,606,404 
TECHNOLOGY - 5.0%
Computers - 1.0%
 32,400   International Business Machines Corp.   4,657,176 
Semiconductors - 2.4%
 7,485   Broadcom Inc.   3,535,390 
 42,591   Infineon Technologies AG   1,725,178 
 30,857   Intel Corp.   1,762,552 
 52,936   Samsung Electronics Co., Ltd.   3,430,907 
     Total Semiconductors   10,454,027 
Software - 1.6%
 13,919   Microsoft Corp.   3,475,296 
 43,990   Oracle Corp.   3,463,773 
     Total Software   6,939,069 
     TOTAL TECHNOLOGY   22,050,272 
UTILITIES - 10.6%
Electric - 10.6%
 37,730   American Electric Power Co., Inc.   3,244,780 
 68,525   Dominion Energy Inc.   5,217,493 
 82,380   Duke Energy Corp.   8,256,124 
 69,977   Evergy Inc.   4,337,874 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)

 

Destinations Equity Income Fund (continued)

         
Shares/Units   Security  Value 
COMMON STOCKS - (continued)
UTILITIES - 10.6% - (continued)
Electric - 10.6% - (continued)
 607,399   National Grid PLC  $8,096,098 
 197,550   PPL Corp.   5,750,681 
 43,225   Public Service Enterprise Group Inc.   2,685,137 
 140,160   Southern Co.   8,959,027 
     Total Electric   46,547,214 
     TOTAL UTILITIES   46,547,214 
     TOTAL COMMON STOCKS     
     (Cost - $321,593,472)   387,806,104 
EXCHANGE TRADED FUNDS (ETFs) - 8.6%
 644,572   iShares Core Dividend Growth(b)   32,757,149 
 51,729   iShares Core High Dividend(b)   5,074,615 
     TOTAL EXCHANGE TRADED FUNDS (ETFs)     
     (Cost - $26,445,002)   37,831,764 
CONVERTIBLE PREFERRED STOCKS - 1.1%
CONSUMER NON-CYCLICAL - 0.4%
Healthcare-Products - 0.4%
 16,270   Avantor Inc., 6.250%   1,621,468 
TECHNOLOGY - 0.7%
Semiconductors - 0.7%
 2,170   Broadcom Inc., 8.000%   3,300,310 
     TOTAL CONVERTIBLE PREFERRED STOCKS     
     (Cost - $3,741,476)   4,921,778 
EQUITY LINKED NOTE – 0.2%
FINANCIAL – 0.2%
Diversified Financial Services – 0.2%
$18,400   Merrill Lynch International & Co. CV*(a)(c)(d)     
     (Cost - $727,238)   847,637 
     TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS     
     (Cost - $352,507,188)   431,407,283 

 

Face
Amount†
        
SHORT-TERM INVESTMENTS - 0.6% 
TIME DEPOSITS - 0.6%
 9,725 EUR  BNP Paribas - Paris, (0.780)% due 5/31/21   11,860 
$188,775   DnB NORBank ASA - Oslo, 0.005% due 6/1/21   188,775 
$2,310,176   Skandinaviska Enskilda Banken AB - Stockholm, 0.005% due 6/1/21   2,310,176 
 3,139,866 JPY  Sumitomo Mitsui Banking Corp. - Tokyo, (0.310)% due 5/31/21   28,587 
     TOTAL TIME DEPOSITS     
     (Cost - $2,539,398)   2,539,398 
     TOTAL SHORT-TERM INVESTMENTS     
     (Cost - $2,539,398)   2,539,398 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)

 

Destinations Equity Income Fund (concluded)

         
Shares/Units   Security  Value 
INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING - 0.5%     
MONEY MARKET FUND - 0.5%
 2,094,168   Federated Government Obligations Fund, Premier Class, 0.025%(e)     
     (Cost - $2,094,168)  $2,094,168 
     TOTAL INVESTMENTS - 99.4%     
     (Cost - $357,140,754)   436,040,849 
     Other Assets in Excess of Liabilities - 0.6%   2,589,730 
     TOTAL NET ASSETS - 100.0%  $438,630,579 

 

 

#May 28, 2021 represents the last business day of the Fund’s fiscal first quarter.
Face amount denominated in U.S. dollars, unless otherwise noted.
*Non-income producing security.
(a)Restricted security that may be sold to “qualified institutional buyers” pursuant to the conditions of Rule 144A under the Securities Act of 1933, as amended. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees, unless otherwise noted. The aggregate value of restricted 144A holdings at May 28, 2021, amounts to approximately $847,637 and represents 0.19% of net assets.
(b)All or a portion of this security is on loan.
(c)Illiquid security. The aggregate value of illiquid holdings at May 28, 2021, amounts to approximately $847,637 and represents 0.19% of net assets.
(d)Security is valued in good faith at fair value by or under the direction of the Board of Trustees using significant unobservable inputs.
(e)Represents investment of collateral received from securities lending transactions.

 

Abbreviations used in this schedule:
ADR American Depositary Receipts
LP Limited Partnership
PLC Public Limited Company

 

Summary of Investments by Security Sector^
Consumer Non-cyclical    25.3%
Financial    14.2 
Communications    12.1 
Utilities    10.7 
Energy    9.8 
Technology    5.8 
Consumer Cyclical    5.6 
Industrial    4.5 
Basic Materials    2.0 
Exchange Traded Funds (ETFs)   8.7 
Short-Term Investments   0.8 
Money Market Fund   0.5 
    100.0%

 

 

^ As a percentage of total investments.

 

Currency Abbreviations used in this schedule:
EUR Euro
JPY Japanese Yen

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations International Equity Fund

 

Shares/Units  Security    Value  
COMMON STOCKS - 92.1%        
Australia - 0.5%           
  773,452   Elmo Software Ltd.*(a)  $ 2,789,860  
  306,805   Pro Medicus Ltd.    10,731,813  
      Total Australia    13,521,673  
Austria - 0.2%           
  153,381   Erste Group Bank AG    6,364,273  
Bermuda - 0.2%           
  244,090   Golar LNG Ltd.*    3,099,943  
  182,644   Hiscox Ltd.*    2,031,492  
      Total Bermuda    5,131,435  
Brazil - 2.3%           
  1,431,601   Aeris Industria E Comercio de Equipamentos Para Geracao de Energia SA*    2,500,325  
  112,609   Afya Ltd., Class A Shares*    2,636,177  
  1,116,780   Itau Unibanco Holding SA, ADR    6,365,646  
  420,573   Localiza Rent a Car SA    4,999,720  
  1,327,833   Lojas Americanas SA    5,109,647  
  983,143   Magazine Luiza SA    3,820,981  
  381,459   Notre Dame Intermedica Participacoes SA    6,422,870  
  26,042   Pagseguro Digital Ltd., Class A Shares*    1,278,923  
  197,563   Rede D'Or Sao Luiz SA(b)    2,692,136  
  140,031   StoneCo Ltd., Class A Shares*    9,237,845  
  751,797   Suzano SA*    8,879,555  
  211,428   XP Inc., Class A Shares*    8,385,234  
      Total Brazil    62,329,059  
Canada - 2.6%           
  73,874   Agnico Eagle Mines Ltd.    5,321,375  
  567,404   ARC Resources Ltd.    4,313,680  
  30,953   Descartes Systems Group Inc.*    1,811,295  
  83,928   Equitable Group Inc.(a)    9,730,783  
  99,253   Franco-Nevada Corp.    14,853,838  
  304,843   Lundin Mining Corp.    3,274,380  
  39,435   Magna International Inc.    3,966,767  
  249,143   Real Matters Inc.*    3,418,882  
  4,100   Shopify Inc., Class A Shares*    5,095,767  
  104,747   Sun Life Financial Inc.    5,644,627  
  83,431   TMX Group Ltd.    9,282,087  
  70,513   Wheaton Precious Metals Corp.    3,384,040  
      Total Canada    70,097,521  
China - 9.3%           
  2,212,000   AK Medical Holdings Ltd.    3,946,104  
  166,196   Alibaba Group Holding Ltd., ADR*    35,559,296  
  23,376   Baidu Inc., ADR*    4,588,008  
  818,556   Beijing Oriental Yuhong Waterproof Technology Co., Ltd., Class A Shares(c)    7,362,557  
  721,300   BTG Hotels Group Co., Ltd., Class A Shares(c)    3,203,604  
  1,579,682   China Conch Venture Holdings Ltd.    7,263,918  
  1,746,311   China Mengniu Dairy Co., Ltd.*    10,321,309  
  3,487,262   China Molybdenum Co., Ltd., Class A Shares(c)    3,130,801  
  2,397,636   China Molybdenum Co., Ltd., Class H Shares(d)    1,602,481  
  127,006   China Tourism Group Duty Free Corp., Ltd, Class A Shares(c)    6,854,383  
  68,175   GDS Holdings Ltd., ADR*    5,128,123  
  162,598   GDS Holdings Ltd., Class A Shares*    1,520,203  
  223,550   Glodon Co., Ltd., Class A Shares(c)    2,595,960  
  660,400   Gree Electric Appliances Inc. of Zhuhai, Class A Shares(c)    5,908,728  
  209,416   Hangzhou Tigermed Consulting Co., Ltd., Class A Shares*(c)    5,652,097  

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
COMMON STOCKS - (continued)
China - 9.3% - (continued)
  747,517     Han's Laser Technology Industry Group Co., Ltd., Class A Shares(c)   $ 4,381,414  
  774,326     Hua Hong Semiconductor Ltd.*(b)      4,198,823  
  1,655,407     Kingdee International Software Group Co., Ltd.*      6,291,434  
  1,074,217     Kingsoft Corp., Ltd      7,243,416  
  14,700     Kuaishou Technology, Class B Shares*(b)      378,719  
  14,665     Kweichow Moutai Co., Ltd., Class A Shares(c)      5,138,831  
  179,565     Lufax Holding Ltd., ADR*(a)      2,188,897  
  134,197     Meituan, Class B Shares*(b)      4,567,785  
  495,072     Midea Group Co., Ltd., Class A Shares(c)      6,408,025  
  761,600     NARI Technology Co., Ltd., Class A Shares(c)      3,622,396  
  590,239     Ping An Insurance Group Co. of China Ltd., Class H Shares(d)      6,443,593  
  300,373     SF Holding Co., Ltd., Class A Shares(c)      3,293,847  
  280,458     Shanghai Henlius Biotech Inc., Class H Shares*(a)(b)(d)      1,528,453  
  778,000     Shanghai Kindly Medical Instruments Co., Ltd., Class H Shares(a)(d)      4,033,759  
  86,320     Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Class A Shares(c)      6,570,833  
  277,035     Shenzhou International Group Holdings Ltd.      7,315,841  
  4,602,019     Sino Biopharmaceutical Ltd.      5,095,242  
  424,299     Tencent Holdings Ltd.      32,847,089  
  12,887     Tencent Holdings Ltd., ADR(a)      1,010,083  
  832,544     Venustech Group Inc., Class A Shares(c)      4,121,280  
  116,159     Will Semiconductor Co., Ltd. Shanghai, Class A Shares(c)      5,227,580  
  1,031,188     Winning Health Technology Group Co., Ltd., Class A Shares(c)      2,680,629  
  136,000     Wuxi Biologics Cayman Inc.*(b)      2,013,325  
  88,157     Yum China Holdings Inc.      5,918,469  
  247,142     Yunnan Baiyao Group Co., Ltd., Class A Shares(c)      4,844,030  
  71,663     Zai Lab Ltd., ADR*      12,731,649  
        Total China     254,733,014  
Cyprus - 0.3%  
  74,688     Ozon Holdings PLC, ADR*(a)      3,963,692  
  53,418     TCS Group Holding PLC, GDR      4,007,616  
        Total Cyprus     7,971,308  
Denmark - 0.7%  
  6,180     Genmab AS*      2,512,709  
  30,095     Jyske Bank AS, Class Registered Shares*      1,556,453  
  145,542     Novozymes AS, Class B Shares      10,632,428  
  32,866     Royal Unibrew AS      4,249,362  
  39,903     Sydbank AS      1,283,047  
        Total Denmark     20,233,999  
Egypt - 0.6%  
  18,758,533     Cleopatra Hospital*      4,767,494  
  9,040,631     Fawry for Banking & Payment Technology Services SAE*(c)      12,191,728  
        Total Egypt     16,959,222  
Finland - 0.4%  
  130,820     Musti Group OYJ*      5,027,684  
  279,266     Talenom OYJ(a)      4,550,188  
  91,634     Wartsila OYJ Abp      1,239,149  
        Total Finland     10,817,021  
France - 6.8%  
  36,394     Air Liquide SA      6,188,507  
  75,364     Alstom SA*      4,253,651  
  75,919     Aubay      3,725,662  
  21,937     Cie Generale des Etablissements Michelin SCA(a)      3,355,409  
  91,396     Danone SA      6,510,803  
  7,024     Dassault Aviation SA      8,825,928  

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
COMMON STOCKS - (continued)
France - 6.8% - (continued)
  28,751     Dassault Systemes SE(a)   $ 6,609,929  
  61,839     Esker SA     17,104,037  
  94,034     EssilorLuxottica SA(a)@     16,330,583  
  146,627     Legrand SA(a)     15,365,321  
  42,856     L'Oreal SA     19,403,053  
  9,072     LVMH Moet Hennessy Louis Vuitton SE     7,245,375  
  84,356     Pernod Ricard SA     18,652,623  
  115,025     Sanofi     12,330,182  
  143,110     Schneider Electric SE     22,766,718  
  161,335     Thales SA     16,548,976  
        Total France     185,216,757  
Germany - 5.5%  
  10,033     adidas AG     3,654,958  
  47,419     Atoss Software AG     9,958,005  
  16,368     Auto1 Group SE*(b)     868,452  
  68,331     Bayer AG, Class Registered Shares     4,350,886  
  47,571     Beiersdorf AG     5,643,125  
  44,428     Deutsche Boerse AG     7,259,627  
  174,743     Deutsche Wohnen SE     11,122,912  
  187,280     Elmos Semiconductor SE     7,995,505  
  120,360     Evotec SE*     5,307,673  
  251,733     Exasol AG*     5,216,699  
  119,361     GEA Group AG     5,197,995  
  143,284     Henkel AG & Co. KGaA     16,524,149  
  11,377     Hypoport SE*     6,359,770  
  29,569     Infineon Technologies AG     1,198,393  
  56,323     Knorr-Bremse AG     6,998,353  
  26,802     LEG Immobilien SE     3,942,611  
  62,768     Mensch und Maschine Software SE     4,837,825  
  7,825     Merck KGaA     1,406,542  
  37,430     MorphoSys AG*     3,287,922  
  123,268     Nexus AG     9,719,542  
  33,574     SAP SE     4,706,175  
  2,311     Sartorius AG     1,145,594  
  59,316     Symrise AG, Class A Shares     7,900,362  
  113,781     TAG Immobilien AG     3,574,084  
  65,543     TeamViewer AG*     2,566,861  
  76,703     Vonovia SE     4,812,727  
  53,415     Zalando SE*(b)     5,704,574  
        Total Germany     151,261,321  
Greece - 0.2%  
  477,609     Sarantis SA     5,111,896  
Hong Kong - 1.5%  
  1,135,400     AIA Group Ltd.     15,060,462  
  1,468,261     Budweiser Brewing Co. APAC Ltd.(b)     5,045,076  
  714,761     Galaxy Entertainment Group Ltd.*     5,974,636  
  157,021     New Frontier Health Corp.*(a)     1,782,188  
  409,211     Techtronic Industries Co., Ltd.     7,712,266  
  1,550,000     Vitasoy International Holdings Ltd.     6,018,914  
        Total Hong Kong     41,593,542  
Hungary - 0.2%  
  107,597     OTP Bank Nyrt*     5,913,011  
India - 8.0%    
  412,279     Aavas Financiers Ltd.*     13,035,068  

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
COMMON STOCKS - (continued)  
India - 8.0% - (continued)  
  523,232     Amara Raja Batteries Ltd.   $ 5,369,189  
  127,162     Asian Paints Ltd.     5,159,485  
  726,740     Axis Bank Ltd.*     7,415,459  
  165,259     Bajaj Finance Ltd.*     12,781,970  
  670,962     Berger Paints India Ltd.     7,422,678  
  477,713     Bharti Airtel Ltd.     3,451,556  
  3,125,379     City Union Bank Ltd.*     7,513,357  
  113,079     Divi's Laboratories Ltd.*     6,430,317  
  197,329     Dr Lal PathLabs Ltd.     7,638,576  
  64,027     Dr Reddy's Laboratories Ltd.     4,591,530  
  22,086     Dr Reddy's Laboratories Ltd., ADR     1,576,278  
  2,068,542     Edelweiss Financial Services Ltd.     1,856,953  
  128,619     Godrej Properties Ltd.*     2,413,013  
  584,438     Gulf Oil Lubricants India Ltd.     5,771,697  
  291,686     HDFC Bank Ltd.*     6,059,955  
  282,091     Hemisphere Properties India Ltd.*     515,495  
  113,322     Hindustan Unilever Ltd.     3,629,635  
  566,963     Housing Development Finance Corp., Ltd     19,861,827  
  182,072     ICICI Lombard General Insurance Co., Ltd.(b)     3,743,528  
  2,782,988     JM Financial Ltd.     3,375,649  
  74,528     Jubilant Foodworks Ltd.*     3,206,891  
  256,348     Kotak Mahindra Bank Ltd.*     6,376,411  
  38,041     Maruti Suzuki India Ltd.     3,658,554  
  663,348     Max Financial Services Ltd.*     8,562,984  
  486,691     Metropolis Healthcare Ltd.     16,943,999  
  239,298     Muthoot Finance Ltd.     4,182,714  
  812,069     Nippon Life India Asset Management Ltd.(b)     3,906,461  
  4,446,836     NTPC Ltd.     6,685,240  
  441,030     Reliance Industries Ltd.(e)     12,384,158  
  347,671     SBI Life Insurance Co., Ltd.(b)     4,685,645  
  197,205     Supreme Industries Ltd.     6,095,653  
  347,465     Tata Communications Ltd.     5,025,454  
  497,004     Tata Consumer Products Ltd.     4,491,101  
  184,514     Titan Co., Ltd.     4,014,179  
        Total India     219,832,659  
Indonesia - 0.7%  
  33,436,800     Ace Hardware Indonesia Tbk PT     3,486,248  
  21,713,716     Bank BTPN Syariah Tbk PT     4,024,603  
  3,246,800     Bank Central Asia Tbk PT     7,198,936  
  58,429,700     Sarana Menara Nusantara Tbk PT@     4,803,276  
        Total Indonesia     19,513,063  
Ireland - 0.7%  
  198,718     Experian PLC     7,615,546  
  37,812     Kerry Group PLC, Class A Shares     5,124,602  
  47,462     Ryanair Holdings PLC, ADR*     5,541,188  
        Total Ireland     18,281,336  
Israel - 0.5%  
  1,910,304     Nayax Ltd.*     6,114,854  
  54,516     Rami Levy Chain Stores Hashikma Marketing 2006 Ltd.     3,522,547  
  15,413     Wix.com Ltd.*     4,005,222  
        Total Israel     13,642,623  
Italy - 0.7%  
  581,625     Banca Mediolanum SpA     5,614,360  
  23,420     DiaSorin SpA     4,117,922  

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
COMMON STOCKS - (continued)  
Italy - 0.7% - (continued)  
  182,618     Gruppo MutuiOnline SpA   $ 9,288,315  
        Total Italy     19,020,597  
Japan - 13.8%  
  556,316     Avant Corp.     7,763,526  
  218,570     BASE Inc.*(a)     3,395,747  
  241,700     Chiba Bank Ltd.     1,573,599  
  108,472     Commerce One Holdings Inc.*     2,336,498  
  99,700     Cybozu Inc.     2,203,996  
  103,700     Direct Marketing MiX Inc.     3,344,369  
  16,400     Disco Corp.     4,999,701  
  206,000     eGuarantee Inc.     4,046,587  
  70,400     Ezaki Glico Co., Ltd.     2,708,607  
  102,300     Freee KK*     7,621,025  
  218,500     Fujitsu General Ltd.     5,358,796  
  237,100     Hachijuni Bank Ltd.     820,205  
  233,589     Hennge KK*(a)     10,651,490  
  9,500     Hikari Tsushin Inc.     1,886,572  
  59,010     Hirose Electric Co., Ltd.     8,444,188  
  45,100     Hoshizaki Corp.     4,087,227  
  90,500     IR Japan Holdings Ltd.     11,558,217  
  134,200     Ito En Ltd.     7,606,762  
  524,100     Japan Elevator Service Holdings Co., Ltd.     11,070,017  
  192,100     Kansai Paint Co., Ltd.     5,199,913  
  216,600     Kao Corp.     13,318,513  
  8,205     Keyence Corp.     4,055,760  
  92,100     Kobayashi Pharmaceutical Co., Ltd.     8,162,943  
  10,400     Kose Corp.     1,663,905  
  36,700     Kusuri no Aoki Holdings Co., Ltd.     2,582,576  
  90,600     Lion Corp.     1,597,648  
  399,300     Mebuki Financial Group Inc.     865,001  
  212,800     Medley Inc.*(a)     8,255,480  
  58,900     MedPeer Inc.*     2,619,815  
  5,732     Miroku Jyoho Service Co., Ltd.     84,511  
  79,100     Murata Manufacturing Co., Ltd.     6,010,950  
  223,500     Nihon Jyoho Create Co., Ltd.*(a)     4,058,458  
  168,100     Nihon Kohden Corp.     4,771,818  
  441,300     Nippon Telegraph & Telephone Corp.     11,906,460  
  23,800     Nissin Foods Holdings Co., Ltd.     1,727,215  
  173,700     Nomura Research Institute Ltd.     5,546,489  
  355,400     North Pacific Bank Ltd.     818,624  
  202,100     NTT Data Corp.     3,271,958  
  32,200     Obic Co., Ltd.     6,050,842  
  63,500     Omron Corp.     5,027,284  
  83,300     ORIX Corp.     1,461,487  
  252,600     Otsuka Holdings Co., Ltd.     10,570,706  
  212,500     Outsourcing Inc.     3,878,922  
  159,800     Pan Pacific International Holdings Corp.     3,195,046  
  241,000     Persol Holdings Co., Ltd.     4,687,635  
  841,961     Prestige International Inc.     5,266,148  
  93,200     Prored Partners Co., Ltd.*(a)     2,511,351  
  184,100     Raccoon Holdings Inc.     4,576,813  
  564,904     Rakus Co., Ltd.     10,498,060  
  192,400     Rohto Pharmaceutical Co., Ltd.     4,766,361  
  414,900     Santen Pharmaceutical Co., Ltd.     5,533,480  
  95,700     Secom Co., Ltd.     7,579,375  

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
COMMON STOCKS - (continued)  
Japan - 13.8% - (continued)  
  161,200     SERAKU Co., Ltd.   $ 3,157,843  
  143,000     Seven & i Holdings Co., Ltd.     6,307,134  
  294,200     Shimadzu Corp.     10,442,878  
  17,900     Shiseido Co., Ltd.     1,293,710  
  403,473     SIGMAXYZ Inc.     7,687,548  
  12,800     SMC Corp.     7,694,854  
  132,238     SMS Co., Ltd.     3,673,266  
  51,600     Sohgo Security Services Co., Ltd.     2,418,506  
  74,200     Sony Group Corp.     7,372,506  
  143,500     Stanley Electric Co., Ltd.     4,310,059  
  75,000     Suzuki Motor Corp.     3,289,400  
  516,100     Systena Corp.     9,352,612  
  200,440     Takeda Pharmaceutical Co., Ltd.     6,869,889  
  66,200     Temairazu Inc.     4,011,280  
  147,600     Terumo Corp.     5,706,310  
  163,500     Toyo Suisan Kaisha Ltd.     6,668,379  
  220,200     ValueCommerce Co., Ltd.     6,140,065  
  159,600     WealthNavi Inc.*     6,292,343  
  140,000     Yokogawa Electric Corp.     2,273,476  
  1,531,000     Z Holdings Corp.     7,320,649  
        Total Japan     375,881,383  
Jersey, Channel Islands - 0.3%  
  756,238     JTC PLC     6,970,726  
Mexico - 0.9%  
  1,187,696     Grupo Mexico SAB de CV, Class B Shares     5,701,060  
  2,294,108     Qualitas Controladora SAB de CV     12,618,818  
  1,815,029     Wal-Mart de Mexico SAB de CV     5,795,152  
        Total Mexico     24,115,030  
Netherlands - 2.8%  
  923     Adyen NV*(b)     2,139,705  
  85,877     Akzo Nobel NV     10,959,275  
  23,299     ASML Holding NV     15,681,462  
  33,919     Core Laboratories NV     1,417,814  
  40,253     Euronext NV(b)     4,276,929  
  81,330     Heineken NV     9,728,069  
  198,681     Koninklijke Philips NV(a)@     11,216,366  
  31,129     NXP Semiconductors NV     6,581,293  
  116,846     Prosus NV*     12,085,766  
  22,980     Wolters Kluwer NV     2,205,663  
        Total Netherlands     76,292,342  
Norway - 0.8%  
  1,121,089     LINK Mobility Group Holding ASA*     5,098,971  
  139,439     Medistim ASA(c)     4,571,095  
  923,015     Pexip Holding ASA*     8,194,121  
  864,534     Zaptec AS*     4,427,270  
        Total Norway     22,291,457  
Philippines - 0.5%  
  4,319,382     Ayala Land Inc.     3,120,224  
  1,367,744     BDO Unibank Inc.     2,915,266  
  2,953,368     Philippine Seven Corp.(c)     6,435,595  
  115,040     SM Investments Corp.     2,358,444  
        Total Philippines     14,829,529  
Poland - 0.4%  
  275,260     InPost SA*     5,353,045  

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
COMMON STOCKS - (continued)  
Poland - 0.4% - (continued)  
  549,919     Powszechny Zaklad Ubezpieczen SA*   $ 5,526,120  
        Total Poland     10,879,165  
Portugal - 0.7%  
  793,186     Galp Energia SGPS SA     9,952,899  
  423,350     Jeronimo Martins SGPS SA     8,191,585  
        Total Portugal     18,144,484  
Russia - 1.5%  
  322,796     Fix Price Group Ltd., GDR*(b)(c)(e)     2,630,787  
  54,325     Fix Price Group Ltd., GDR*     442,749  
  274,542     HeadHunter Group PLC, ADR*     11,302,894  
  47,540     Novatek PJSC, GDR     9,468,701  
  8,463     Polyus PJSC     1,834,371  
  845     Polyus PJSC, GDR     91,869  
  11,567     Polyus PJSC, GDR(c)     1,256,176  
  117,007     Sberbank of Russia PJSC, ADR (listed in UK)     1,976,047  
  477,411     Sberbank of Russia PJSC, ADR (listed in US)     8,058,698  
  50,555     Yandex NV, Class A Shares*     3,414,485  
        Total Russia     40,476,777  
Singapore - 0.2%  
  3,481,500     Sheng Siong Group Ltd.     4,184,074  
South Africa - 0.8%  
  36,413     Capitec Bank Holdings Ltd.     4,375,123  
  77,281     Naspers Ltd., Class N Shares     16,998,185  
        Total South Africa     21,373,308  
South Korea - 3.8%  
  54,555     KINX Inc.     3,044,995  
  97,350     Korea Shipbuilding & Offshore Engineering Co., Ltd.*(a)     12,489,724  
  101,084     LEENO Industrial Inc.(a)     15,031,707  
  3,807     LG Household & Health Care Ltd.     5,225,473  
  39,121     NAVER Corp.     12,565,756  
  573,596     NICE Information Service Co., Ltd.     11,865,928  
  622,885     Samsung Electronics Co., Ltd.     44,760,257  
        Total South Korea     104,983,840  
Spain - 0.4%  
  135,538     Amadeus IT Group SA*     10,233,689  
Sweden - 1.4%  
  122,108     Assa Abloy AB, Class B Shares     3,762,603  
  129,008     Cellavision AB     5,399,677  
  194,470     Epiroc AB, Class A Shares     4,435,402  
  111,000     Essity AB, Class B Shares     3,842,511  
  133,936     Fortnox AB     6,777,919  
  333,715     Swedbank AB, Class A Shares     6,123,145  
  183,234     Vitec Software Group AB, Class B Shares     8,102,344  
        Total Sweden     38,443,601  
Switzerland - 5.7%  
  52,342     Alcon Inc.     3,649,635  
  1,254     Barry Callebaut AG, Class Registered Shares     2,854,970  
  146     Chocoladefabriken Lindt & Spruengli AG     1,378,297  
  50,105     Cie Financiere Richemont SA, Class Registered Shares     6,083,912  
  7,170     Geberit AG, Class Registered Shares     5,199,213  
  5,050     Givaudan SA, Class Registered Shares     22,589,593  
  2,216,406     Glencore PLC*     10,097,555  
  187,555     Julius Baer Group Ltd.     12,788,250  
  19,022     Lonza Group AG, Class Registered Shares     12,309,416  
  359,205     Nestle SA, Class Registered Shares     44,367,618  
  11,438     PolyPeptide Group AG*(b)     972,643  

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)

 

Destinations International Equity Fund (continued) 

 

Shares/Units   Security  Value 
COMMON STOCKS - (continued)
Switzerland - 5.7% - (continued)
 10,989   Roche Holding AG  $3,850,532 
 20,295   Schindler Holding AG   6,029,812 
 3,465   SGS SA, Class Registered Shares   10,826,251 
 18,349   Sika AG, Class Registered Shares   5,899,384 
 12,519   Temenos AG, Class Registered Shares   1,936,195 
 226,532   UBS Group AG, Class Registered Shares   3,698,615 
     Total Switzerland   154,531,891 
Taiwan - 3.9%
 1,188,000   Bioteque Corp.   4,997,222 
 603,073   Chief Telecom Inc.   6,758,123 
 722,000   Delta Electronics Inc.   7,592,606 
 306,820   Poya International Co., Ltd.*   6,000,965 
 1,247,000   Taiwan Semiconductor Manufacturing Co., Ltd.   26,536,602 
 372,635   Taiwan Semiconductor Manufacturing Co., Ltd., ADR   43,732,444 
 264,981   Voltronic Power Technology Corp.   12,049,717 
     Total Taiwan   107,667,679 
Thailand - 0.5%
 2,277,500   CP ALL PCL, Class F Shares(c)   4,427,460 
 2,605,500   TQM Corp. PCL, Class F Shares(c)   9,713,304 
     Total Thailand   14,140,764 
United Arab Emirates - 0.3%
 1,343,847   Network International Holdings PLC*(b)   7,600,374 
United Kingdom - 8.7%
 416,128   Amcor PLC   4,894,824 
 186,010   AstraZeneca PLC, ADR(a)   10,559,788 
 332,512   Avon Rubber PLC   14,605,950 
 894,205   boohoo Group PLC*   4,047,784 
 153,387   Burberry Group PLC*   4,638,492 
 1,052,484   Bytes Technology Group PLC*   7,464,453 
 188,832   Compass Group PLC*   4,302,887 
 27,210   Croda International PLC   2,696,058 
 379,800   Deliveroo PLC*(c)(e)@   1,287,323 
 201,087   Deliveroo PLC, Class A Shares*(b)   717,452 
 334,882   Diageo PLC   16,166,114 
 2,137,828   dotdigital group PLC   6,777,735 
 308,180   FDM Group Holdings PLC   4,338,567 
 357,972   Future PLC   14,400,873 
 488,260   GB Group PLC   6,475,425 
 191,655   Halma PLC   7,074,707 
 62,222   Hargreaves Lansdown PLC   1,461,030 
 96,568   HomeServe PLC   1,279,491 
 388,871   IMI PLC   9,161,321 
 85,608   Intertek Group PLC   6,590,969 
 4,735,688   Johnson Service Group PLC*   11,430,679 
 27,287   Linde PLC   8,207,722 
 91,845   London Stock Exchange Group PLC   9,860,028 
 293,552   Mortgage Advice Bureau Holdings Ltd.(c)   4,935,415 
 309,651   Patisserie Holdings PLC*(c)(e)   4,395 
 157,668   Reckitt Benckiser Group PLC   14,241,910 
 386,562   Smith & Nephew PLC   8,433,004 
 107,544   Spectris PLC   4,896,032 
 59,687   Spirax-Sarco Engineering PLC   10,745,959 
 1,404,281   Strix Group PLC   5,913,910 
 244,924   THG PLC*   2,116,700 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units   Security  Value 
COMMON STOCKS - (continued)
United Kingdom - 8.7% - (continued)
 208,190   Unilever PLC  $12,476,533 
 963,233   YouGov PLC   15,444,826 
     Total United Kingdom   237,648,356 
United States - 2.8%
 17,685   ACM Research Inc., Class A Shares*   1,343,706 
 55,903   Analog Devices Inc.   9,201,634 
 32,195   ANSYS Inc.*   10,879,978 
 153,588   Cadence Design Systems Inc.*   19,504,140 
 101,528   Colgate-Palmolive Co.   8,506,016 
 123,673   DD3 Acquisition Corp. II Forward Shares*(b)(c)(e)   14,841 
 24,735   DD3 Acquisition Corp. II Founders Shares*(b)(c)(e)   178,587 
 1,830   DD3 Acquisition Corp. II Private Units*(b)(c)(e)   18,519 
 19,370   Nordson Corp.   4,294,135 
 40,402   Philip Morris International Inc.   3,895,965 
 18,123   Texas Instruments Inc.   3,440,108 
 36,500   Visa Inc., Class A Shares   8,296,450 
 55,759   Waste Connections Inc.   6,771,373 
     Total United States   76,345,452 
     TOTAL COMMON STOCKS
(Cost - $1,708,739,318)
   2,514,579,251 
EXCHANGE TRADED FUNDS (ETFs) - 4.5%
United States - 4.5%
 822,267   iShares Core MSCI Emerging Markets   54,804,095 
 1,256,435   iShares MSCI EAFE Value(a)   67,734,411 
     Total United States   122,538,506 
     TOTAL EXCHANGE TRADED FUNDS (ETFs)
(Cost - $109,818,714)
   122,538,506 
WARRANT - 0.0%
Switzerland - 0.0%
 96,408   Cie Financiere Richemont SA*(c)   62,164 
     (Cost - $0)     
     TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS
(Cost - $1,818,558,032)
   2,637,179,921 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)

 

Destinations International Equity Fund (continued)

 

Face
Amount†
   Security  Value 
SHORT-TERM INVESTMENTS - 3.5%     
TIME DEPOSITS - 3.5%       
$12,753,841   Banco Bilbao Vizcaya Argentaria SA - Madrid, 0.005% due 6/1/21  $12,753,841 
     BNP Paribas SA - Paris:     
 508,737CHF    (1.360)% due 5/31/21   565,577 
 1,503,832EUR    (0.780)% due 5/31/21   1,833,923 
 31,105,698    0.005% due 6/1/21   31,105,698 
     Brown Brothers Harriman - Grand Cayman:     
 457DKK    (0.550)% due 5/31/21   75 
 2JPY    (0.310)% due 5/31/21   - 
 4,154,440SEK    (0.270)% due 5/31/21   500,288 
 35AUD    (0.200)% due 5/31/21   27 
 20NOK    (0.130)% due 5/31/21   2 
 4HKD    0.000% due 5/31/21   - 
 4NZD    0.005% due 5/31/21   3 
 46,812CAD    0.010% due 5/31/21   38,768 
 10,494,943ZAR    3.500% due 5/31/21   761,615 
 41,524GBP   Citibank - London, 0.005% due 6/1/21   58,931 
 8,595,263HKD   Hong Kong & Shanghai Bank - Hong Kong, 0.00% due 5/31/21   1,107,516 
 772SGD   Hong Kong & Shanghai Bank - Singapor, 0.005% due 5/31/21   584 
 45,287,762   Skandinaviska Enskilda Banken AB - Stockholm, 0.005% due 6/1/21   45,287,762 
 85,513,903JPY   Sumitomo Mitsui Banking Corp. - Tokyo, (0.310)% due 5/31/21   778,567 
     TOTAL TIME DEPOSITS
(Cost - $94,793,177)
   94,793,177 

 

 Shares/Units         
INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING - 3.6%     
MONEY MARKET FUND - 3.6%     
 101,299,111   Federated Government Obligations Fund, Premier Class, 0.025%(f)
(Cost - $101,299,111)
  $101,299,111 
     TOTAL INVESTMENTS - 103.7%
(Cost - $2,014,650,320)
   2,833,272,209 
     Liabilities in Excess of Other Assets - (3.7)%   (101,269,730)
     TOTAL NET ASSETS - 100.0%  $2,732,002,479 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)

 

Destinations International Equity Fund (continued)

 

 

#May 28, 2021 represents the last business day of the Fund’s fiscal first quarter.
Face amount denominated in U.S. dollars, unless otherwise noted.
*Non-income producing security.
(a)All or a portion of this security is on loan.
(b)Restricted security that may be sold to “qualified institutional buyers” pursuant to the conditions of Rule 144A under the Securities Act of 1933, as amended. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees, unless otherwise noted. The aggregate value of restricted 144A holdings at May 28, 2021, amounts to approximately $58,325,563 and represents of net assets.
(c)Illiquid security. The aggregate value of illiquid holdings at May 28, 2021, amounts to approximately $128,724,384 and represents 4.71% of net assets.
(d)Security trades on the Hong Kong exchange.
(e)Security is valued in good faith at fair value by or under the direction of the Board of Trustees using significant unobservable inputs.
(f)Represents investment of collateral received from securities lending transactions.
@Restricted security – Investment in security not registered under the Securities Act of 1933. The investment is deemed to not be liquid and maybe sold only to qualified buyers.

 

 

Security  First
Acquisition
Date
   First
Acquisition
Cost
   Market
Value
   Percent
of Net
Assets
 
Deliveroo PLC   3/31/21   $1,081,309   $1,287,323    0.05%
EssilorLuxottica SA   3/22/21    68,587    16,330,583    0.60%
Koninklijke Philips NV   4/27/21    210,993    11,216,366    0.40%
Sarana Menara Nusantara Tbk PT   4/3/17    1,400    4,803,276    0.18%
Total            $33,637,548    1.23%

 

Abbreviations used in this schedule:
ADR American Depositary Receipts
GDR Global Depositary Receipts
PCL Public Company Limited
PLC Public Limited Company

 

Summary of Investments by Security Sector^
Consumer Non-cyclical   25.5%
Technology   15.0 
Financial   13.8 
Industrial   12.0 
Communications   9.0 
Consumer Cyclical   6.6 
Basic Materials   5.4 
Energy   1.5 
Utilities   0.2 
Exchange Traded Funds (ETFs)   4.3 
Short-Term Investments   3.4 
Money Market Fund   3.3 
    100.0%

 

 

^ As a percentage of total investments.

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations International Equity Fund (concluded)

 

Schedule of Options Contracts Written

Equity Options

 

Number of Contracts  Notional
Amount
  Security Name  Counterparty  Expiration
Date
  Exercise
Rate
   Value 
108  CHF664,632  Julius Baer Group Ltd.  GSC  6/18/21  $64.00   $4,082 
87  EUR19,142  EBS GmbH  MSC  7/16/21   36.00    3,958 
106  CHF652,324  Julius Baer Gruppe AG  MSC  9/17/21   68.00    10,317 
       TOTAL OPTIONS CONTRACTS WRITTEN            
       (Premiums received — $26,643)             $18,357 

 

At May 28, 2021, Destinations International Equity Fund had open forward foreign currency contracts as described below.

 

The unrealized appreciation on the open contracts was as follows:

 

Foreign Currency 

Local

Currency

  Counterparty 

Market

Value

  Settlement
Date
  Unrealized Appreciation   Unrealized (Depreciation)  

Unrealized Appreciation/

(Depreciation)

 
Contracts to Sell:                             
Japanese Yen   795,000,000  CITI  $7,242,507  8/19/21  $275,949   $   $275,949 
Japanese Yen   1,563,100,000  HSBC   14,239,953  8/19/21   550,715        550,715 
Net Unrealized Appreciation on Open Forward Foreign Currency Contracts  $826,664   $   $826,664 

 

 

Currency Abbreviations used in this schedule:
AUD Australian Dollar
CAD Canadian Dollar
CHF Swiss Franc
DKK Danish Krone
EUR Euro
GBP British Pound
HKD Hong Kong Dollar
JPY Japanese Yen
NOK Norwegian Krone
NZD New Zealand Dollar
SEK Swedish Krona
SGD Singapore Dollar
ZAR South African Rand

 

Counterparty Abbreviations used in this schedule:
CITI Citigroup Global Markets Inc.
GSC Goldman Sachs & Co.
HSBC HSBC Bank USA
MSC Morgan Stanley

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)
 
Destinations Core Fixed Income Fund

 

Face
Amount/Units
   Security  Value 
CORPORATE BONDS & NOTES - 26.5% 
Basic Materials - 0.3%       
$255,000   Air Products & Chemicals Inc., Senior Unsecured Notes, 1.850% due 5/15/27  $262,189 
 210,000   Arconic Corp., Secured Notes, 6.125% due 2/15/28(a)   223,518 
 500,000   CSN Islands XII Corp., Company Guaranteed Notes, 7.000% (b)   506,255 
     DuPont de Nemours Inc., Senior Unsecured Notes:     
 1,270,000   4.205% due 11/15/23   1,380,738 
 175,000   5.419% due 11/15/48   232,640 
 410,000   Georgia-Pacific LLC, Senior Unsecured Notes, 3.600% due 3/1/25(a)   446,679 
 375,000   Glencore Funding LLC, Company Guaranteed Notes, 1.625% due 4/27/26(a)   374,966 
 95,000   Hexion Inc., Company Guaranteed Notes, 7.875% due 7/15/27(a)   102,374 
 130,000   Illuminate Buyer LLC/Illuminate Holdings IV Inc., Senior Unsecured Notes, 9.000% due 7/1/28(a)   143,975 
 215,000   Kraton Polymers LLC/Kraton Polymers Capital Corp., Company Guaranteed Notes, 4.250% due 12/15/25(a)   217,739 
 400,000   LYB International Finance III LLC, Company Guaranteed Notes, 3.800% due 10/1/60   397,788 
 400,000   MEGlobal Canada ULC, Company Guaranteed Notes, 5.000% due 5/18/25(a)   449,280 
 85,000   Novelis Corp., Company Guaranteed Notes, 4.750% due 1/30/30(a)   89,250 
     POSCO, Senior Unsecured Notes:     
 600,000   2.375% due 1/17/23   614,592 
 300,000   2.750% due 7/15/24   316,180 
 30,000   SCIH Salt Holdings Inc., Senior Unsecured Notes, 6.625% due 5/1/29(a)   29,775 
 45,000   TMS International Corp., Senior Unsecured Notes, 6.250% due 4/15/29(a)   46,800 
 20,000   Tronox Inc., Company Guaranteed Notes, 4.625% due 3/15/29(a)   20,486 
 485,000   Vale Overseas Ltd., Company Guaranteed Notes, 3.750% due 7/8/30   515,055 
 400,000   Vedanta Resources Finance II PLC, Company Guaranteed Notes, 9.250% due 4/23/26(a)   359,000 
 400,000   Vedanta Resources Ltd., Senior Unsecured Notes, 6.125% due 8/9/24   341,200 
     Total Basic Materials   7,070,479 
Communications - 3.2%       
 200,000   Acuris Finance U.S. Inc./Acuris Finance SARL, Senior Secured Notes, 5.000% due 5/1/28(a)   200,000 
 1,290,000   Alphabet Inc., Senior Unsecured Notes, 2.050% due 8/15/50   1,088,990 
 50,000   Arches Buyer Inc., Senior Secured Notes, 4.250% due 6/1/28(a)   49,125 
     AT&T Inc., Senior Unsecured Notes:     
 725,000   1.700% due 3/25/26   731,477 
 6,261,000   4.350% due 3/1/29   7,161,308 
 115,000   2.750% due 6/1/31   116,483 
 470,000   2.250% due 2/1/32   452,093 
 1,070,000   2.550% due 12/1/33(a)   1,033,447 
 585,000   3.650% due 6/1/51   584,358 
 225,000   3.300% due 2/1/52   208,281 
 1,450,000   3.500% due 2/1/61   1,360,470 
 150,000   Avaya Inc., Senior Secured Notes, 6.125% due 9/15/28(a)   159,187 
 200,000   Baidu Inc., Senior Unsecured Notes, 3.425% due 4/7/30   211,651 
     CCO Holdings LLC/CCO Holdings Capital Corp., Senior Unsecured Notes:     
 265,000   4.750% due 3/1/30(a)   274,835 
 125,000   4.500% due 8/15/30(a)   127,379 
 125,000   Cengage Learning Inc., Senior Unsecured Notes, 9.500% due 6/15/24(a)   127,031 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)
 
Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
CORPORATE BONDS & NOTES - (continued)     
Communications - 3.2% - (continued)     
     Charter Communications Operating LLC/Charter Communications Operating Capital, Senior Secured Notes:     
$410,000   4.908% due 7/23/25  $466,229 
 360,000   4.200% due 3/15/28   402,447 
 570,000   2.300% due 2/1/32   535,003 
 6,745,000   4.800% due 3/1/50   7,402,786 
 165,000   3.900% due 6/1/52   158,180 
 100,000   4.400% due 12/1/61   101,129 
     Clear Channel Outdoor Holdings Inc.:     
 15,000   Company Guaranteed Notes, 7.750%  due 4/15/28(a)   15,367 
 50,000   Senior Unsecured Notes, 7.500%  due 6/1/29(a)   49,870 
     Comcast Corp., Company Guaranteed Notes:     
 3,015,000   3.750% due 4/1/40   3,308,725 
 375,000   4.700% due 10/15/48   464,483 
 85,000   CommScope Technologies LLC, Company Guaranteed Notes, 5.000% due 3/15/27(a)   85,677 
 85,000   Consolidated Communications Inc., Senior Secured Notes, 5.000% due 10/1/28(a)   86,487 
     Cox Communications Inc., Senior Unsecured Notes:     
 430,000   2.600% due 6/15/31(a)   428,070 
 120,000   8.375% due 3/1/39(a)   195,644 
 2,306,000   Crown Castle Towers LLC, Asset Backed, 4.241% due 7/15/28(a)   2,598,855 
     CSC Holdings LLC, Senior Unsecured Notes:     
 295,000   5.750% due 1/15/30(a)   307,921 
 200,000   4.625% due 12/1/30(a)   193,780 
     Digicel Group Holdings Ltd.:     
 54,430   Senior Unsecured Notes, 8.000%  due 4/1/25(a)(c)   45,857 
 80,771   Subordinated Notes, 7.000%  (a)(b)(c)   60,578 
     Discovery Communications LLC, Company Guaranteed Notes:     
 60,000   5.300% due 5/15/49   71,386 
 880,000   4.650% due 5/15/50   977,329 
 85,000   DISH DBS Corp., Company Guaranteed Notes, 5.125% due 6/1/29(a)   84,328 
 130,000   Embarq Corp., Senior Unsecured Notes, 7.995% due 6/1/36   146,900 
 105,000   Endure Digital Inc., Senior Unsecured Notes, 6.000% due 2/15/29(a)   100,800 
 550,000   Expedia Group Inc., Company Guaranteed Notes, 3.800% due 2/15/28   592,565 
     Frontier Communications Holdings LLC:     
     Secured Notes:     
 60,000   6.750%  due 5/1/29(a)   62,735 
 9,900   5.875%  due 11/1/29   9,964 
     Senior Secured Notes:     
 45,000   5.875%  due 10/15/27(a)   47,812 
 90,000   5.000%  due 5/1/28(a)   92,250 
 135,000   GCI LLC, Senior Unsecured Notes, 4.750% due 10/15/28(a)   137,700 
 190,000   Gray Television Inc., Company Guaranteed Notes, 7.000% due 5/15/27(a)   205,437 
 120,000   GTT Communications Inc., Company Guaranteed Notes, 7.875% due 12/31/24(a)   11,400 
 25,000   iHeartCommunications Inc., Company Guaranteed Notes, 8.375% due 5/1/27   26,732 
 110,000   Intelsat Jackson Holdings SA, Company Guaranteed Notes, 5.500% due 8/1/23(d)   64,075 
     KT Corp., Senior Unsecured Notes:     
 200,000   1.000% due 9/1/25   198,550 
 400,000   2.500% due 7/18/26   420,948 
 40,000   Level 3 Financing Inc., Company Guaranteed Notes, 3.750% due 7/15/29(a)   38,568 
 75,666   Ligado Networks LLC, Senior Secured Notes, 15.500% due 11/1/23(a)(c)   75,344 
 65,000   LogMeIn Inc., Senior Secured Notes, 5.500% due 9/1/27(a)   66,945 
     Lumen Technologies Inc.:     
 125,000   Senior Secured Notes, 4.000%  due 2/15/27(a)   126,562 
 135,000   Senior Unsecured Notes, 5.125%  due 12/15/26(a)   139,852 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)
 
Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
CORPORATE BONDS & NOTES - (continued)     
Communications - 3.2% - (continued)     
$65,000   Match Group Holdings II LLC, Senior Unsecured Notes, 4.625% due 6/1/28(a)  $66,625 
 1,010,000   NTT Finance Corp., Company Guaranteed Notes, 1.162% due 4/3/26(a)   1,006,826 
 440,000   Omnicom Group Inc., Senior Unsecured Notes, 2.450% due 4/30/30   437,182 
     Radiate Holdco LLC/Radiate Finance Inc.:     
 110,000   Senior Secured Notes, 4.500%  due 9/15/26(a)   111,100 
 40,000   Senior Unsecured Notes, 6.500%  due 9/15/28(a)   41,100 
 50,000   Scripps Escrow II Inc., Senior Secured Notes, 3.875% due 1/15/29(a)   48,625 
 165,000   Scripps Escrow Inc., Company Guaranteed Notes, 5.875% due 7/15/27(a)   170,363 
 600,000   SingTel Group Treasury Pte Ltd., Company Guaranteed Notes, 4.500% due 9/8/21   606,149 
 2,726,000   Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC, Senior Secured Notes, 5.152% due 3/20/28(a)   3,121,270 
 5,478,000   TD Ameritrade Holding Corp., Senior Unsecured Notes, 2.750% due 10/1/29   5,785,446 
 300,000   Telefonica Emisiones SA, Company Guaranteed Notes, 4.895% due 3/6/48   343,843 
 130,000   Telesat Canada/Telesat LLC, Company Guaranteed Notes, 6.500% due 10/15/27(a)   123,663 
     Tencent Holdings Ltd., Senior Unsecured Notes:     
 705,000   3.975% due 4/11/29(a)   775,140 
 500,000   2.390% due 6/3/30(a)   492,357 
 200,000   2.880% due 4/22/31(a)   203,348 
 55,000   Terrier Media Buyer Inc., Company Guaranteed Notes, 8.875% due 12/15/27(a)   58,850 
     T-Mobile USA Inc.:     
     Company Guaranteed Notes:     
 680,000   2.250%  due 2/15/26   685,746 
 45,000   3.375%  due 4/15/29   45,792 
 35,000   3.375%  due 4/15/29(a)   35,616 
 40,000   2.875%  due 2/15/31   38,574 
     Senior Secured Notes:     
 650,000   3.500%  due 4/15/25   705,416 
 1,975,000   3.875%  due 4/15/30   2,164,719 
 2,010,000   3.000%  due 2/15/41   1,884,978 
 35,000   Townsquare Media Inc., Senior Secured Notes, 6.875% due 2/1/26(a)   36,969 
     Uber Technologies Inc., Company Guaranteed Notes:     
 130,000   8.000% due 11/1/26(a)   140,373 
 70,000   7.500% due 9/15/27(a)   76,650 
 75,000   Univision Communications Inc., Senior Secured Notes, 4.500% due 5/1/29(a)   75,902 
     Verizon Communications Inc., Senior Unsecured Notes:     
 9,346,000   1.750% due 1/20/31   8,783,156 
 3,610,000   4.500% due 8/10/33   4,240,212 
 120,000   2.650% due 11/20/40   110,564 
 2,075,000   3.400% due 3/22/41   2,110,137 
 1,545,000   ViacomCBS Inc., Senior Unsecured Notes, 4.950% due 1/15/31   1,830,385 
 165,000   Viasat Inc., Senior Unsecured Notes, 6.500% due 7/15/28(a)   174,735 
 65,000   Zayo Group Holdings Inc., Senior Unsecured Notes, 6.125% due 3/1/28(a)   66,169 
     Total Communications   71,089,365 
Consumer Cyclical - 2.0%     
 140,000   Academy Ltd., Senior Secured Notes, 6.000% due 11/15/27(a)   148,750 
 5,000,000   Advance Auto Parts Inc., Company Guaranteed Notes, 3.900% due 4/15/30   5,499,037 
 135,000   American Airlines Inc./AAdvantage Loyalty IP Ltd., Senior Secured Notes, 5.750% due 4/20/29(a)   144,819 
     Asbury Automotive Group Inc., Company Guaranteed Notes:     
 38,000   4.500% due 3/1/28   39,158 
 38,000   4.750% due 3/1/30   39,710 
     AutoZone Inc., Senior Unsecured Notes:     
 365,000   3.625% due 4/15/25   399,672 
 1,702,000   1.650% due 1/15/31   1,584,244 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)
 
Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
CORPORATE BONDS & NOTES - (continued)     
Consumer Cyclical - 2.0% - (continued)     
$265,000   Bally's Corp., Company Guaranteed Notes, 6.750% due 6/1/27(a)  $281,809 
 35,000   Beacon Roofing Supply Inc., Company Guaranteed Notes, 4.125% due 5/15/29(a)   34,519 
 125,000   Boyd Gaming Corp., Senior Unsecured Notes, 4.750% due 6/15/31(a)   126,287 
 150,000   Boyne USA Inc., Senior Unsecured Notes, 4.750% due 5/15/29(a)   154,935 
 165,000   Caesars Entertainment Inc., Senior Secured Notes, 6.250% due 7/1/25(a)   173,897 
 200,000   Caesars Resort Collection LLC/CRC Finco Inc., Company Guaranteed Notes, 5.250% due 10/15/25(a)   201,662 
 45,000   Carlson Travel Inc., Senior Secured Notes, 6.750% due 12/15/25(a)   38,362 
     Carnival Corp.:     
 65,000   Senior Secured Notes, 11.500%  due 4/1/23(a)   74,372 
 80,000   Senior Unsecured Notes, 5.750%  due 3/1/27(a)   85,000 
 65,000   Carvana Co., Company Guaranteed Notes, 5.625% due 10/1/25(a)   66,950 
 280,000   Cedar Fair LP, Company Guaranteed Notes, 5.250% due 7/15/29   284,952 
 115,000   Century Communities Inc., Company Guaranteed Notes, 6.750% due 6/1/27   123,740 
 666,875   Continental Airlines Pass-Through Trust, Pass-Thru Certificates, 4.150% due 4/11/24   703,630 
     Dana Inc., Senior Unsecured Notes:     
 45,000   5.375% due 11/15/27   47,812 
 20,000   4.250% due 9/1/30   20,632 
 110,000   Dealer Tire LLC/DT Issuer LLC, Senior Unsecured Notes, 8.000% due 2/1/28(a)   116,187 
 425,000   Dollar General Corp., Senior Unsecured Notes, 3.500% due 4/3/30   461,774 
 420,000   Dollar Tree Inc., Senior Unsecured Notes, 4.000% due 5/15/25   465,360 
 70,000   Ferrellgas LP/Ferrellgas Finance Corp., Senior Unsecured Notes, 5.375% due 4/1/26(a)   68,250 
     Ford Motor Co., Senior Unsecured Notes:     
 70,000   9.000% due 4/22/25   85,524 
 170,000   7.450% due 7/16/31   214,625 
 35,000   Full House Resorts Inc., Senior Secured Notes, 8.250% due 2/15/28(a)   37,975 
 800,000   General Motors Co., Senior Unsecured Notes, 6.125% due 10/1/25   951,020 
 800,000   General Motors Financial Co., Inc., Company Guaranteed Notes, 1.184% (3-Month USD-LIBOR + 0.990%) due 1/5/23(e)   807,786 
 105,000   Golden Entertainment Inc., Senior Unsecured Notes, 7.625% due 4/15/26(a)   111,956 
     Golden Nugget Inc.:     
 50,000   Company Guaranteed Notes, 8.750%  due 10/1/25(a)   52,722 
 280,000   Senior Unsecured Notes, 6.750%  due 10/15/24(a)   282,598 
 85,000   Goodyear Tire & Rubber Co., Company Guaranteed Notes, 5.250% due 7/15/31(a)   86,819 
 50,000   Group 1 Automotive Inc., Company Guaranteed Notes, 4.000% due 8/15/28(a)   50,312 
     Hilton Domestic Operating Co., Inc., Company Guaranteed Notes:     
 10,000   5.375% due 5/1/25(a)   10,528 
 10,000   5.750% due 5/1/28(a)   10,762 
     Home Depot Inc., Senior Unsecured Notes:     
 1,055,000   3.300% due 4/15/40   1,109,990 
 375,000   3.900% due 6/15/47   424,912 
 430,000   Hyundai Capital America, Senior Unsecured Notes, 3.000% due 2/10/27(a)   454,998 
 155,000   Installed Building Products Inc., Company Guaranteed Notes, 5.750% due 2/1/28(a)   163,138 
     IRB Holding Corp.:     
 230,000   Company Guaranteed Notes, 6.750%  due 2/15/26(a)   237,762 
 100,000   Senior Secured Notes, 7.000%  due 6/15/25(a)   108,040 
 100,000   KAR Auction Services Inc., Company Guaranteed Notes, 5.125% due 6/1/25(a)   102,000 
 340,000   Las Vegas Sands Corp., Senior Unsecured Notes, 3.500% due 8/18/26   360,104 
 100,000   LBM Acquisition LLC, Company Guaranteed Notes, 6.250% due 1/15/29(a)   102,250 
 95,000   Lions Gate Capital Holdings LLC, Company Guaranteed Notes, 5.500% due 4/15/29(a)   98,395 
 310,000   Live Nation Entertainment Inc., Company Guaranteed Notes, 5.625% due 3/15/26(a)   322,788 
 80,000   LSF9 Atlantis Holdings LLC/Victra Finance Corp., Senior Secured Notes, 7.750% due 2/15/26(a)   81,443 
 130,000   M/I Homes Inc., Company Guaranteed Notes, 4.950% due 2/1/28   136,500 
  40,000   Magic Mergeco Inc., Senior Unsecured Notes, 7.875% due 5/1/29(a)    40,870 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)
 
Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
CORPORATE BONDS & NOTES - (continued)     
Consumer Cyclical - 2.0% - (continued)     
$455,000   Marriott International Inc., Senior Unsecured Notes, 2.850% due 4/15/31  $453,698 
 140,000   Mattamy Group Corp., Senior Unsecured Notes, 4.625% due 3/1/30(a)   139,650 
     McDonald's Corp., Senior Unsecured Notes:     
 170,000   3.350% due 4/1/23   179,148 
 815,000   4.200% due 4/1/50   940,219 
 175,000   Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp., Senior Secured Notes, 4.875% due 5/1/29(a)   175,289 
 120,000   Murphy Oil USA Inc., Company Guaranteed Notes, 4.750% due 9/15/29   125,250 
 85,000   NCL Corp., Ltd, Company Guaranteed Notes, 5.875% due 3/15/26(a)   88,613 
 220,000   NCL Corp., Ltd., Senior Unsecured Notes, 3.625% due 12/15/24(a)   210,254 
 200,000   Performance Food Group Inc., Company Guaranteed Notes, 5.500% due 10/15/27(a)   208,636 
 250,000   PetSmart Inc./PetSmart Finance Corp., Senior Secured Notes, 4.750% due 2/15/28(a)   258,900 
 35,000   Real Hero Merger Sub 2 Inc., Senior Unsecured Notes, 6.250% due 2/1/29(a)   36,190 
 80,000   Scientific Games International Inc., Company Guaranteed Notes, 8.250% due 3/15/26(a)   85,989 
 155,000   Scotts Miracle-Gro Co., Company Guaranteed Notes, 4.500% due 10/15/29   161,402 
 280,000   Six Flags Entertainment Corp., Company Guaranteed Notes, 4.875% due 7/31/24(a)   282,100 
 6,250,000   Southwest Airlines Co., Senior Unsecured Notes, 5.125% due 6/15/27   7,312,073 
     SRS Distribution Inc.:     
 110,000   Company Guaranteed Notes, 6.125%  due 7/1/29(a)   112,200 
 70,000   Senior Secured Notes, 4.625%  due 7/1/28(a)   70,644 
     Staples Inc.:     
 65,000   Senior Secured Notes, 7.500%  due 4/15/26(a)   67,418 
 40,000   Senior Unsecured Notes, 10.750%  due 4/15/27(a)   40,950 
 305,000   Starbucks Corp., Senior Unsecured Notes, 3.800% due 8/15/25   339,094 
 4,750,000   Steelcase Inc., Senior Unsecured Notes, 5.125% due 1/18/29   5,527,826 
 70,000   Suburban Propane Partners LP/Suburban Energy Finance Corp., Senior Unsecured Notes, 5.000% due 6/1/31(a)   70,732 
 130,000   Superior Plus LP/Superior General Partner Inc., Senior Unsecured Notes, 4.500% due 3/15/29(a)   132,218 
 50,000   Tempur Sealy International Inc., Company Guaranteed Notes, 4.000% due 4/15/29(a)   50,101 
 85,000   Tenneco Inc., Senior Secured Notes, 5.125% due 4/15/29(a)   85,000 
     United Airlines Inc., Senior Secured Notes:     
 30,000   4.375% due 4/15/26(a)   31,088 
 105,000   4.625% due 4/15/29(a)   108,480 
 2,100,694   United Airlines Pass-Through Trust, Pass-Thru Certificates, 3.650% due 10/7/25   2,062,855 
     Viking Cruises Ltd.:     
 360,000   Company Guaranteed Notes, 5.875%  due 9/15/27(a)   347,400 
 50,000   Senior Secured Notes, 13.000%  due 5/15/25(a)   58,375 
 5,000,000   Volkswagen Group of America Finance LLC, Company Guaranteed Notes, 1.250% due 11/24/25(a)   4,997,392 
 120,000   WASH Multifamily Acquisition Inc., Senior Secured Notes, 5.750% due 4/15/26(a)   125,004 
 50,000   Wheel Pros Inc., Senior Unsecured Notes, 6.500% due 5/15/29(a)   50,272 
 114,000   Wolverine Escrow LLC, Senior Secured Notes, 9.000% due 11/15/26(a)   111,720 
 140,000   Wyndham Hotels & Resorts Inc., Company Guaranteed Notes, 4.375% due 8/15/28(a)   143,150 
 130,000   Yum! Brands Inc., Senior Unsecured Notes, 4.750% due 1/15/30(a)   139,038 
     Total Consumer Cyclical   43,159,705 
Consumer Non-cyclical - 3.0%     
     AbbVie Inc., Senior Unsecured Notes:     
 695,000   3.450% due 3/15/22   708,779 
 450,000   3.850% due 6/15/24   489,450 
 380,000   2.950% due 11/21/26   407,810 
 105,000   3.200% due 11/21/29   112,623 
 6,523,000   4.250% due 11/21/49   7,512,436 
 300,000   Adani International Container Terminal Pvt Ltd., Senior Secured Notes, 3.000% due 2/16/31(a)   290,027 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)
 
Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
CORPORATE BONDS & NOTES - (continued)     
Consumer Non-cyclical - 3.0% - (continued)     
$200,000   Adani Ports & Special Economic Zone Ltd., Senior Unsecured Notes, 4.375% due 7/3/29  $211,040 
 120,000   Air Methods Corp., Senior Unsecured Notes, 8.000% due 5/15/25(a)   112,350 
 1,465,000   Alcon Finance Corp., Company Guaranteed Notes, 2.750% due 9/23/26(a)   1,553,582 
     Allied Universal Holdco LLC/Allied Universal Finance Corp.:     
 130,000   Senior Secured Notes, 6.625%  due 7/15/26(a)   137,808 
 255,000   Senior Unsecured Notes, 9.750%  due 7/15/27(a)   281,137 
     Altria Group Inc., Company Guaranteed Notes:     
 340,000   2.350% due 5/6/25   356,066 
 330,000   2.450% due 2/4/32   312,436 
 195,000   3.875% due 9/16/46   185,692 
     Amgen Inc., Senior Unsecured Notes:     
 340,000   2.200% due 2/21/27   354,023 
 450,000   2.450% due 2/21/30   457,244 
 3,500,000   Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide Inc., Company Guaranteed Notes, 4.900% due 2/1/46   4,195,972 
     Anheuser-Busch InBev Worldwide Inc., Company Guaranteed Notes:     
 340,000   4.439% due 10/6/48   386,265 
 345,000   5.550% due 1/23/49   450,978 
 1,010,000   4.750% due 4/15/58   1,179,526 
     Anthem Inc., Senior Unsecured Notes:     
 435,000   3.300% due 1/15/23   455,438 
 780,000   3.500% due 8/15/24   845,377 
 175,000   5.100% due 1/15/44   222,023 
 355,000   Archer-Daniels-Midland Co., Senior Unsecured Notes, 3.250% due 3/27/30   387,549 
     Astrazeneca Finance LLC, Company Guaranteed Notes:     
 1,010,000   1.200% due 5/28/26   1,011,081 
 690,000   1.750% due 5/28/28   689,338 
 85,000   B&G Foods Inc., Company Guaranteed Notes, 5.250% due 9/15/27   87,763 
     BAT Capital Corp., Company Guaranteed Notes:     
 475,000   2.259% due 3/25/28   467,370 
 650,000   3.462% due 9/6/29   676,344 
 475,000   2.726% due 3/25/31   457,308 
 705,000   BAT International Finance PLC, Company Guaranteed Notes, 1.668% due 3/25/26   703,532 
     Bausch Health Cos. Inc.:     
     Company Guaranteed Notes:     
 60,000   6.250%  due 2/15/29(a)   58,650 
 135,000   5.250%  due 1/30/30(a)   124,369 
 58,000   Senior Secured Notes, 7.000%  due 3/15/24(a)   59,212 
 90,000   Bausch Health Cos., Inc., Senior Secured Notes, 4.875% due 6/1/28(a)   90,729 
 280,000   Baxter International Inc., Senior Unsecured Notes, 3.950% due 4/1/30   317,550 
 210,000   Bayer US Finance II LLC, Company Guaranteed Notes, 4.250% due 12/15/25(a)   235,307 
 692,000   Becton Dickinson & Co., Senior Unsecured Notes, 2.894% due 6/6/22   708,834 
 1,615,000   Boston Scientific Corp., Senior Unsecured Notes, 3.750% due 3/1/26   1,797,694 
     Bristol-Myers Squibb Co., Senior Unsecured Notes:     
 71,000   2.900% due 7/26/24   76,120 
 780,000   0.750% due 11/13/25   775,650 
 460,000   2.550% due 11/13/50   418,284 
 460,000   Bunge Ltd. Finance Corp., Company Guaranteed Notes, 2.750% due 5/14/31   459,443 
 100,000   Catalent Pharma Solutions Inc., Company Guaranteed Notes, 5.000% due 7/15/27(a)   104,300 
    Centene Corp., Senior Unsecured Notes:    
 80,000   3.000% due 10/15/30   80,000 
 80,000   2.500% due 3/1/31   76,640 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)
 
Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
CORPORATE BONDS & NOTES - (continued)     
Consumer Non-cyclical - 3.0% - (continued)     
     CHS/Community Health Systems Inc.:     
     Senior Secured Notes:     
$95,000   6.000%  due 1/15/29(a)  $99,405 
 85,000   4.750%  due 2/15/31(a)   83,343 
 70,000   Secured Notes, 6.875%  due 4/15/29(a)   71,453 
     Cigna Corp.:     
     Company Guaranteed Notes:     
 460,000   1.074%  (3-Month USD-LIBOR + 0.890%) due 7/15/23(e)   466,277 
 280,000   3.050%  due 10/15/27   302,643 
 380,000   4.900%  due 12/15/48   473,402 
 1,235,000   Senior Unsecured Notes, 1.250%  due 3/15/26   1,237,871 
 1,555,000   Coca-Cola Co., Senior Unsecured Notes, 2.250% due 1/5/32   1,560,950 
 325,000   CommonSpirit Health, Senior Secured Notes, 2.760% due 10/1/24   344,392 
     Constellation Brands Inc.:     
     Company Guaranteed Notes:     
 165,000   3.600%  due 2/15/28   181,242 
 280,000   3.150%  due 8/1/29   296,465 
 160,000   Senior Unsecured Notes, 2.875%  due 5/1/30   165,595 
     Coty Inc.:     
 55,000   Company Guaranteed Notes, 6.500%  due 4/15/26(a)   54,711 
 95,000   Senior Secured Notes, 5.000%  due 4/15/26(a)   96,342 
     CVS Health Corp., Senior Unsecured Notes:     
 947,000   4.780% due 3/25/38   1,127,614 
 885,000   5.050% due 3/25/48   1,092,333 
 1,269,006   CVS Pass-Through Trust, Pass-Thru Certificates, 6.943% due 1/10/30   1,552,489 
 85,000   DaVita Inc., Company Guaranteed Notes, 4.625% due 6/1/30(a)   86,691 
 1,040,000   Diageo Capital PLC, Company Guaranteed Notes, 2.000% due 4/29/30   1,027,284 
 90,000   Emergent BioSolutions Inc., Company Guaranteed Notes, 3.875% due 8/15/28(a)   88,443 
     Encompass Health Corp., Company Guaranteed Notes:     
 65,000   4.500% due 2/1/28   67,113 
 20,000   4.750% due 2/1/30   20,975 
 165,000   4.625% due 4/1/31   175,016 
 75,000   Endo Luxembourg Finance Co. I SARL/Endo US Inc., Senior Secured Notes, 6.125% due 4/1/29(a)   73,969 
 510,000   Equifax Inc., Senior Unsecured Notes, 2.600% due 12/15/25   540,751 
 235,000   Estee Lauder Cos. Inc., Senior Unsecured Notes, 2.600% due 4/15/30   243,746 
     Garda World Security Corp.:     
     Senior Unsecured Notes:     
 200,000   8.750%  due 5/15/25(a)   208,750 
 100,000   6.000%  due 6/1/29(a)   99,119 
 220,000   Senior Secured Notes, 4.625%  due 2/15/27(a)   219,450 
 670,000   General Mills Inc., Senior Unsecured Notes, 2.875% due 4/15/30   700,945 
     Gilead Sciences Inc., Senior Unsecured Notes:     
 170,000   2.500% due 9/1/23   177,272 
 1,285,000   1.650% due 10/1/30   1,217,366 
 925,000   GlaxoSmithKline Capital Inc., Company Guaranteed Notes, 3.625% due 5/15/25   1,025,449 
 795,000   Global Payments Inc., Senior Unsecured Notes, 2.900% due 5/15/30   815,088 
 200,000   HCA Inc., Senior Secured Notes, 4.125% due 6/15/29   223,911 
 160,000   H-Food Holdings LLC/Hearthside Finance Co., Inc., Senior Unsecured Notes, 8.500% due 6/1/26(a)   165,416 
 105,000   Hill-Rom Holdings Inc., Company Guaranteed Notes, 4.375% due 9/15/27(a)   108,800 
     Hormel Foods Corp., Senior Unsecured Notes:     
 165,000   0.650% due 6/3/24   165,078 
 75,000   1.700% due 6/3/28   74,789 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
CORPORATE BONDS & NOTES - (continued)     
Consumer Non-cyclical - 3.0% - (continued)     
$45,000   JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc., Company Guaranteed Notes, 3.750% due 12/1/31(a)  $45,581 
 435,000   Johnson & Johnson, Senior Unsecured Notes, 3.550% due 3/1/36   497,056 
     Kraft Heinz Foods Co., Company Guaranteed Notes:     
 150,000   5.000% due 7/15/35   177,098 
 4,167,000   4.625% due 10/1/39   4,658,202 
 420,000   5.200% due 7/15/45   495,955 
     Kronos Acquisition Holdings Inc./KIK Custom Products Inc.:     
 115,000   Company Guaranteed Notes, 7.000%  due 12/31/27(a)   117,013 
 215,000   Senior Secured Notes, 5.000%  due 12/31/26(a)   218,494 
 145,000   Legacy LifePoint Health LLC, Senior Secured Notes, 4.375% due 2/15/27(a)   144,456 
 75,000   Legends Hospitality Holding Co. LLC/Legends Hospitality Co.-Issuer Inc., Senior Secured Notes, 5.000% due 2/1/26(a)   77,625 
 105,000   LifePoint Health Inc., Company Guaranteed Notes, 5.375% due 1/15/29(a)   102,244 
 80,000   Metis Merger Sub LLC, Senior Unsecured Notes, 6.500% due 5/15/29(a)   78,786 
 725,000   Mondelez International Inc., Senior Unsecured Notes, 1.500% due 2/4/31   674,567 
 240,000   MPH Acquisition Holdings LLC, Company Guaranteed Notes, 5.750% due 11/1/28(a)   238,838 
 25,000   NESCO Holdings II Inc., Secured Notes, 5.500% due 4/15/29(a)   25,781 
 264,000   New York & Presbyterian Hospital, Unsecured Notes, 4.763% due 8/1/16   341,301 
 540,000   Novartis Capital Corp., Company Guaranteed Notes, 2.000% due 2/14/27   562,131 
     Ortho-Clinical Diagnostics Inc./Ortho-Clinical Diagnostics SA, Senior Unsecured Notes:     
 17,000   7.375% due 6/1/25(a)   18,212 
 129,000   7.250% due 2/1/28(a)   140,288 
 540,000   PepsiCo Inc., Senior Unsecured Notes, 3.625% due 3/19/50   600,141 
 720,000   Pfizer Inc., Senior Unsecured Notes, 1.700% due 5/28/30   704,243 
 45,000   Post Holdings Inc., Company Guaranteed Notes, 5.500% due 12/15/29(a)   48,063 
 100,000   Primo Water Holdings Inc., Company Guaranteed Notes, 4.375% due 4/30/29(a)   100,045 
 400,000   PSA Treasury Pte Ltd., Company Guaranteed Notes, 2.125% due 9/5/29   402,278 
 320,000   Quest Diagnostics Inc., Senior Unsecured Notes, 2.800% due 6/30/31   329,535 
 160,000   Radiology Partners Inc., Company Guaranteed Notes, 9.250% due 2/1/28(a)   175,400 
 70,000   Rent-A-Center Inc., Company Guaranteed Notes, 6.375% due 2/15/29(a)   74,900 
     Royalty Pharma PLC, Company Guaranteed Notes:     
 1,810,000   2.200% due 9/2/30(a)   1,739,827 
 445,000   3.300% due 9/2/40(a)   432,096 
 180,000   RP Escrow Issuer LLC, Senior Secured Notes, 5.250% due 12/15/25(a)   185,850 
 75,000   Sabre GLBL Inc., Senior Secured Notes, 9.250% due 4/15/25(a)   87,750 
 220,000   SEG Holding LLC/SEG Finance Corp., Senior Secured Notes, 5.625% due 10/15/28(a)   230,230 
 305,000   Select Medical Corp., Company Guaranteed Notes, 6.250% due 8/15/26(a)   321,586 
 425,000   Smithfield Foods Inc., Company Guaranteed Notes, 4.250% due 2/1/27(a)   467,211 
     Spectrum Brands Inc., Company Guaranteed Notes:     
 130,000   5.000% due 10/1/29(a)   137,150 
 80,000   3.875% due 3/15/31(a)   77,799 
 310,000   Sutter Health, Unsecured Notes, 3.361% due 8/15/50   315,533 
     Sysco Corp., Company Guaranteed Notes:     
 200,000   3.250% due 7/15/27   217,497 
 225,000   3.300% due 2/15/50   218,895 
 200,000   Takeda Pharmaceutical Co., Ltd., Senior Unsecured Notes, 2.050% due 3/31/30   195,161 
     Tenet Healthcare Corp.:     
    Senior Secured Notes:    
 80,000   5.125%  due 11/1/27(a)   83,502 
 125,000   4.250%  due 6/1/29(a)   124,954 
 255,000   Company Guaranteed Notes, 6.125%  due 10/1/28(a)   266,870 
 200,000   Secured Notes, 6.250%  due 2/1/27(a)   208,500 
 85,000   Triton Water Holdings Inc., Senior Unsecured Notes, 6.250% due 4/1/29(a)   85,230 
 135,000   United Natural Foods Inc., Company Guaranteed Notes, 6.750% due 10/15/28(a)   144,609 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security   Value 
CORPORATE BONDS & NOTES - (continued)     
Consumer Non-cyclical - 3.0% - (continued)     
     United Rentals North America Inc., Company Guaranteed Notes:     
$15,000   5.250% due 1/15/30  $16,370 
 25,000   3.875% due 2/15/31   25,125 
     UnitedHealth Group Inc., Senior Unsecured Notes:     
 1,270,000   2.375% due 8/15/24   1,343,808 
 490,000   2.300% due 5/15/31   492,240 
 70,000   3.500% due 8/15/39   75,786 
     US Foods Inc.:     
 75,000   Company Guaranteed Notes, 4.750%  due 2/15/29(a)   74,813 
 15,000   Senior Secured Notes, 6.250%  due 4/15/25(a)   15,893 
 130,000   Viatris Inc., Company Guaranteed Notes, 1.650% due 6/22/25(a)   131,995 
 145,000   Vizient Inc., Senior Unsecured Notes, 6.250% due 5/15/27(a)   153,338 
     Total Consumer Non-cyclical   66,730,948 
Energy - 2.2%        
 65,000   Aethon United BR LP/Aethon United Finance Corp., Senior Unsecured Notes, 8.250% due 2/15/26(a)   69,631 
 250,000   AI Candelaria Spain SLU, Senior Secured Notes, 5.750% due 6/15/33(a)   250,000 
 105,000   Antero Midstream Partners LP/Antero Midstream Finance Corp., Company Guaranteed Notes, 5.750% due 3/1/27(a)   108,173 
 70,000   Antero Resources Corp., Senior Unsecured Notes, 5.375% due 3/1/30(a)   70,267 
     Apache Corp., Senior Unsecured Notes:     
 70,000   4.625% due 11/15/25   74,286 
 135,000   4.375% due 10/15/28   138,487 
 500,000   BG Energy Capital PLC, Company Guaranteed Notes, 5.125% due 10/15/41(a)   640,524 
 55,000   Blue Racer Midstream LLC/Blue Racer Finance Corp., Senior Unsecured Notes, 7.625% due 12/15/25(a)   59,469 
     BP Capital Markets America Inc., Company Guaranteed Notes:     
 565,000   3.633% due 4/6/30   626,814 
 255,000   2.939% due 6/4/51   235,681 
 425,000   3.379% due 2/8/61   411,447 
 445,000   Canadian Natural Resources Ltd., Senior Unsecured Notes, 2.950% due 1/15/23   462,391 
 5,250,000   Cenovus Energy Inc., Senior Unsecured Notes, 4.250% due 4/15/27   5,820,858 
 85,000   Chesapeake Energy Corp., Company Guaranteed Notes, 5.875% due 2/1/29(a)   91,648 
 180,000   CNX Midstream Partners LP/CNX Midstream Finance Corp., Company Guaranteed Notes, 6.500% due 3/15/26(a)   187,875 
 40,000   CNX Resources Corp., Company Guaranteed Notes, 6.000% due 1/15/29(a)   42,700 
 340,720   Empresa Electrica Cochrane SpA, Senior Secured Notes, 5.500% due 5/14/27   349,696 
 215,000   Enable Midstream Partners LP, Company Guaranteed Notes, 5.000% due 5/15/44   224,174 
 90,000   Endeavor Energy Resources LP/EER Finance Inc., Senior Unsecured Notes, 6.625% due 7/15/25(a)   95,413 
     Energy Transfer LP, Senior Unsecured Notes:     
 220,000   4.750% due 1/15/26   246,723 
 330,000   3.900% due 7/15/26   360,794 
 1,260,000   4.900% due 3/15/35   1,406,283 
 345,000   5.950% due 10/1/43   410,542 
 630,000   6.250% due 4/15/49   786,290 
    Enterprise Products Operating LLC, Company Guaranteed Notes:    
 420,000   3.750% due 2/15/25   459,654 
 6,000,000   4.150% due 10/16/28   6,816,772 
 1,010,000   4.800% due 2/1/49   1,193,190 
     EQM Midstream Partners LP, Senior Unsecured Notes:     
 50,000   6.500% due 7/1/27(a)   54,957 
 85,000   4.750% due 1/15/31(a)   85,531 
 80,000   EQT Corp., Senior Unsecured Notes, 8.500% due 2/1/30   104,000 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
CORPORATE BONDS & NOTES - (continued)     
Energy - 2.2% - (continued)     
$630,000   Equinor ASA, Company Guaranteed Notes, 3.700% due 4/6/50  $690,608 
 95,000   Exterran Energy Solutions LP/EES Finance Corp., Company Guaranteed Notes, 8.125% due 5/1/25   85,870 
     Exxon Mobil Corp., Senior Unsecured Notes:     
 295,000   2.992% due 3/19/25   318,481 
 570,000   4.227% due 3/19/40   658,350 
     Galaxy Pipeline Assets Bidco Ltd., Senior Secured Notes:     
 400,000   2.160% due 3/31/34(a)   394,782 
 500,000   2.625% due 3/31/36   490,018 
 700,000   2.940% due 9/30/40(a)   693,047 
 200,000   Gran Tierra Energy Inc., Company Guaranteed Notes, 7.750% due 5/23/27(a)   171,500 
 600,000   Gran Tierra Energy International Holdings Ltd., Company Guaranteed Notes, 6.250% due 2/15/25   516,006 
     Gulfport Energy Corp., :     
 175,000   6.375% due 5/15/25(f)   7,000 
 51,000   8.000% due 5/17/26   55,080 
 220,000   Halliburton Co., Senior Unsecured Notes, 2.920% due 3/1/30   224,214 
 620,000   Hess Corp., Senior Unsecured Notes, 7.300% due 8/15/31   824,633 
     Hess Midstream Operations LP, Company Guaranteed Notes:     
 160,000   5.625% due 2/15/26(a)   165,866 
 145,000   5.125% due 6/15/28(a)   152,134 
 190,000   Hilcorp Energy I LP/Hilcorp Finance Co., Senior Unsecured Notes, 6.250% due 11/1/28(a)   199,500 
 85,000   Indigo Natural Resources LLC, Senior Unsecured Notes, 5.375% due 2/1/29(a)   85,232 
 200,000   Investment Energy Resources Ltd., Senior Secured Notes, 6.250% due 4/26/29(a)   215,000 
 560,000   Marathon Petroleum Corp., Senior Unsecured Notes, 4.700% due 5/1/25   634,428 
     MEG Energy Corp., Company Guaranteed Notes:     
 175,000   7.125% due 2/1/27(a)   187,688 
 20,000   5.875% due 2/1/29(a)   20,800 
 120,000   Moss Creek Resources Holdings Inc., Company Guaranteed Notes, 7.500% due 1/15/26(a)   105,600 
     MPLX LP, Senior Unsecured Notes:     
 6,838,000   1.285% (3-Month USD-LIBOR + 1.100%) due 9/9/22(e)   6,842,171 
 225,000   1.750% due 3/1/26   227,983 
 315,000   4.125% due 3/1/27   352,919 
 210,000   4.000% due 3/15/28   232,772 
 360,000   4.700% due 4/15/48   401,496 
 140,000   NGL Energy Operating LLC/NGL Energy Finance Corp., Senior Secured Notes, 7.500% due 2/1/26(a)   145,683 
 90,000   NGL Energy Partners LP/NGL Energy Finance Corp., Company Guaranteed Notes, 7.500% due 4/15/26   79,403 
 265,000   NuStar Logistics LP, Company Guaranteed Notes, 6.000% due 6/1/26   283,802 
 80,000   Oasis Petroleum Inc., Company Guaranteed Notes, 6.375% due 6/1/26(a)   81,300 
        Occidental Petroleum Corp., Senior Unsecured Notes:        
 95,000     8.000% due 7/15/25      111,730  
 225,000     6.625% due 9/1/30      257,832  
 205,000     6.125% due 1/1/31      227,376  
 45,000     6.450% due 9/15/36      50,689  
 45,000     6.600% due 3/15/46      49,221  
 80,000     Ovintiv Inc., Company Guaranteed Notes, 7.375% due 11/1/31      106,663  
 140,000     Par Petroleum LLC/Par Petroleum Finance Corp., Senior Secured Notes, 7.750% due 12/15/25(a)      141,008  
 95,000     Parkland Corp., Company Guaranteed Notes, 4.500% due 10/1/29(a)      96,425  
 40,000     PBF Holding Co. LLC/PBF Finance Corp., Company Guaranteed Notes, 6.000% due 2/15/28      29,500  

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
CORPORATE BONDS & NOTES - (continued)     
Energy - 2.2% - (continued)     
$59,000   Peabody Energy Corp., Senior Secured Notes, 8.500% due 12/31/24(a)(c)  $37,170 
 550,000   Petrobras Global Finance BV, Company Guaranteed Notes, 6.750% due 6/3/50   618,475 
 65,000   PIC AU Holdings LLC/PIC AU Holdings Corp., Senior Secured Notes, 10.000% due 12/31/24(a)   62,888 
 280,000   Pioneer Natural Resources Co., Senior Unsecured Notes, 1.125% due 1/15/26   277,516 
 200,000   PTTEP Treasury Center Co., Ltd., Company Guaranteed Notes, 2.587% due 6/10/27(a)   206,577 
 110,000   Rattler Midstream LP, Company Guaranteed Notes, 5.625% due 7/15/25(a)   114,400 
     Sabine Pass Liquefaction LLC, Senior Secured Notes:     
 320,000   5.000% due 3/15/27   370,615 
 200,000   4.500% due 5/15/30   226,709 
 3,530,000   Schlumberger Investment SA, Company Guaranteed Notes, 2.650% due 6/26/30   3,637,590 
 645,000   Shell International Finance BV, Company Guaranteed Notes, 3.250% due 4/6/50   657,010 
 140,000   SunCoke Energy Partners LP/SunCoke Energy Partners Finance Corp., Company Guaranteed Notes, 7.500% due 6/15/25(a)   144,900 
     Sunoco LP/Sunoco Finance Corp., Company Guaranteed Notes:     
 105,000   6.000% due 4/15/27   109,725 
 55,000   4.500% due 5/15/29(a)   54,645 
 240,000   Targa Resources Partners LP/Targa Resources Partners Finance Corp., Company Guaranteed Notes, 4.875% due 2/1/31(a)   250,800 
 480,000   Total Capital International SA, Company Guaranteed Notes, 3.386% due 6/29/60   481,817 
 360,000   TransCanada PipeLines Ltd., Senior Unsecured Notes, 5.100% due 3/15/49   453,455 
 50,000   Transocean Inc., Company Guaranteed Notes, 11.500% due 1/30/27(a)   49,772 
 300,000   Transocean Poseidon Ltd., Senior Secured Notes, 6.875% due 2/1/27(a)   291,750 
 542,283   UEP Penonome II SA, Senior Secured Notes, 6.500% due 10/1/38(a)   547,712 
 325,000   USA Compression Partners LP/USA Compression Finance Corp., Company Guaranteed Notes, 6.875% due 9/1/27   341,153 
 295,000   Valero Energy Corp., Senior Unsecured Notes, 2.850% due 4/15/25   313,031 
 125,000   Viper Energy Partners LP, Company Guaranteed Notes, 5.375% due 11/1/27(a)   130,000 
 4,000   Weatherford International Ltd., Company Guaranteed Notes, 11.000% due 12/1/24(a)   4,056 
     Western Midstream Operating LP, Senior Unsecured Notes:     
 150,000   4.350% due 2/1/25   156,375 
 155,000   5.300% due 2/1/30   170,888 
 215,000   Williams Cos. Inc., Senior Unsecured Notes, 3.750% due 6/15/27   238,469 
     Total Energy   48,445,578 
Financial - 9.2%     
 95,000   Acrisure LLC/Acrisure Finance Inc., Senior Secured Notes, 4.250% due 2/15/29(a)   92,776 
 430,000   Air Lease Corp., Senior Unsecured Notes, 3.250% due 3/1/25   455,935 
 590,000   Alexandria Real Estate Equities Inc., Company Guaranteed Notes, 1.875% due 2/1/33   544,576 
 135,000   Alliant Holdings Intermediate LLC/Alliant Holdings Co.-Issuer, Senior Unsecured Notes, 6.750% due 10/15/27(a)   139,387 
 515,000   American Express Co., Senior Unsecured Notes, 4.200% due 11/6/25   585,036 
 1,575,000   American International Group Inc., Senior Unsecured Notes, 2.500% due 6/30/25   1,665,283 
 3,700,000   American Tower Trust #1, Asset Backed, 3.070% due 3/15/23(a)   3,731,627 
    AssuredPartners Inc., Senior Unsecured Notes:    
 160,000   7.000% due 8/15/25(a)   163,300 
 25,000   5.625% due 1/15/29(a)   24,812 
 425,000   Athene Holding Ltd., Senior Unsecured Notes, 3.950% due 5/25/51   432,793 
     Avolon Holdings Funding Ltd.:     
 155,000   Company Guaranteed Notes, 3.250%  due 2/15/27(a)   159,028 
 295,000   Senior Unsecured Notes, 2.125%  due 2/21/26(a)   291,616 
 200,000   Banco Davivienda SA, Junior Subordinated Notes, 6.650% (5-Year CMT Index + 5.097%) (a)(b)(e)   205,500 
     Banco de Credito del Peru, Subordinated Notes:     
 200,000   3.125% (5-Year CMT Index + 3.000%) due 7/1/30(a)(e)   197,502 
 250,000   3.125% (5-Year CMT Index + 3.000%) due 7/1/30(e)   246,877 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
CORPORATE BONDS & NOTES - (continued)     
Financial - 9.2% - (continued)     
$350,000   Banco de Reservas de la Republica Dominicana, Subordinated Notes, 7.000% due 2/1/23  $366,629 
 200,000   Banco do Estado do Rio Grande do Sul SA, Subordinated Notes, 5.375% (5-Year CMT Index + 4.928%) due 1/28/31(a)(e)   200,002 
 200,000   Banco General SA, Junior Subordinated Notes, 5.250% (5-Year CMT Index + 3.665%) (a)(b)(e)   203,250 
 600,000   Banco Internacional del Peru SAA Interbank, Subordinated Notes, 4.000% (1-Year CMT Index + 3.711%) due 7/8/30(e)   588,000 
     Banco Macro SA, Subordinated Notes:     
 200,000   6.750% (5-Year USD Swap Rate + 5.463%) due 11/4/26(a)(e)   160,002 
 650,000   6.750% (5-Year USD Swap Rate + 5.463%) due 11/4/26(e)   520,007 
 600,000   Banco Mercantil del Norte SA, Junior Subordinated Notes, 7.625% (5-Year CMT Index + 5.353%) (b)(e)   673,806 
 500,000   Bangkok Bank PCL, Junior Subordinated Notes, 5.000% (5-Year CMT Index + 4.729%) (b)(e)   525,000 
     Bank of America Corp., Senior Unsecured Notes:     
 2,375,000   2.456% (3-Month USD-LIBOR + 0.870%) due 10/22/25(e)   2,500,998 
 1,365,000   1.658% (SOFRRATE + 0.910%) due 3/11/27(e)   1,384,302 
 1,535,000   3.559% (3-Month USD-LIBOR + 1.060%) due 4/23/27(e)   1,687,736 
 885,000   3.824% (3-Month USD-LIBOR + 1.575%) due 1/20/28(e)   987,224 
 1,000,000   3.974% (3-Month USD-LIBOR + 1.210%) due 2/7/30(e)   1,121,536 
 690,000   1.898% (SOFRRATE + 1.530%) due 7/23/31(e)   659,350 
 6,075,000   1.922% (SOFRRATE + 1.370%) due 10/24/31(e)   5,803,727 
 900,000   3.311% (SOFRRATE + 1.580%) due 4/22/42(e)   921,173 
 2,345,000   4.083% (3-Month USD-LIBOR + 3.150%) due 3/20/51(e)   2,670,064 
     Bank of New York Mellon Corp., Senior Unsecured Notes:     
 455,000   2.100% due 10/24/24   478,762 
 555,000   2.450% due 8/17/26   588,849 
 420,000   Bank of Nova Scotia, Senior Unsecured Notes, 3.400% due 2/11/24   452,173 
 5,000,000   Barclays PLC, Senior Unsecured Notes, 4.375% due 1/12/26   5,628,901 
 1,045,000   BBVA USA, Senior Unsecured Notes, 2.500% due 8/27/24   1,103,282 
 500,000   BDO Unibank Inc., Senior Unsecured Notes, 2.950% due 3/6/23   517,550 
 525,000   Berkshire Hathaway Finance Corp., Company Guaranteed Notes, 4.200% due 8/15/48   623,406 
 1,170,000   BlackRock Inc., Senior Unsecured Notes, 1.900% due 1/28/31   1,148,609 
     BNP Paribas SA, Senior Unsecured Notes:     
 935,000   2.219% (SOFRRATE + 2.074%) due 6/9/26(a)(e)   967,150 
 495,000   1.323% (SOFRRATE + 1.004%) due 1/13/27(a)(e)   489,908 
 845,000   BOC Aviation USA Corp., Company Guaranteed Notes, 1.625% due 4/29/24(a)   851,424 
     Boston Properties LP, Senior Unsecured Notes:     
 665,000   3.650% due 2/1/26   735,409 
 3,000,000   2.750% due 10/1/26   3,211,642 
 2,983,000   3.400% due 6/21/29   3,186,472 
 185,000   Brighthouse Financial Global Funding, Senior Secured Notes, 1.000% due 4/12/24(a)   185,814 
 310,000   Brown & Brown Inc., Senior Unsecured Notes, 2.375% due 3/15/31   304,191 
     CIMB Bank Bhd, Senior Unsecured Notes:     
 200,000   3.263% due 3/15/22   203,720 
 200,000   0.974% (3-Month USD-LIBOR + 0.780%) due 10/9/24(e)   201,159 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
CORPORATE BONDS & NOTES - (continued)     
Financial - 9.2% - (continued)     
     Citigroup Inc., Senior Unsecured Notes:     
$805,000   2.876% (3-Month USD-LIBOR + 0.950%) due 7/24/23(e)  $828,618 
 990,000   0.981% (SOFRRATE + 0.669%) due 5/1/25(e)   996,071 
 550,000   3.700% due 1/12/26   610,489 
 5,000,000   3.106% (SOFRRATE + 2.842%) due 4/8/26(e)   5,365,871 
 815,000   3.668% (3-Month USD-LIBOR + 1.390%) due 7/24/28(e)   900,747 
 1,830,000   4.412% (SOFRRATE + 3.914%) due 3/31/31(e)   2,104,279 
 5,000,000   Credit Suisse Group AG, Senior Unsecured Notes, 4.194% (SOFRRATE + 3.730%) due 4/1/31(a)(e)   5,560,884 
     Crown Castle International Corp., Senior Unsecured Notes:     
 3,000,000   3.800% due 2/15/28   3,307,795 
 395,000   4.300% due 2/15/29   447,062 
     DBS Group Holdings Ltd.:     
 200,000   Senior Unsecured Notes, 0.796%  (3-Month USD-LIBOR + 0.620%) due 7/25/22(e)   201,161 
 300,000   Subordinated Notes, 4.520%  (5-Year USD 1100 Run ICE Swap Rate + 1.590%) due 12/11/28(e)   324,321 
 400,000   Discover Financial Services, Senior Unsecured Notes, 4.100% due 2/9/27   449,019 
     Equinix Inc., Senior Unsecured Notes:     
 115,000   1.800% due 7/15/27   115,701 
 210,000   2.000% due 5/15/28   209,812 
 495,000   2.500% due 5/15/31   493,015 
 1,225,000   Equitable Financial Life Global Funding, Secured Notes, 1.800% due 3/8/28(a)   1,210,396 
 6,017,000   ERP Operating LP, Senior Unsecured Notes, 3.375% due 6/1/25   6,525,401 
 555,000   Fifth Third Bancorp, Senior Unsecured Notes, 2.375% due 1/28/25   583,652 
 6,134,000   Five Corners Funding Trust II, Senior Unsecured Notes, 2.850% due 5/15/30(a)   6,367,911 
 900,000   GE Capital Funding LLC, Company Guaranteed Notes, 4.400% due 5/15/30   1,034,759 
     Gilex Holding SARL, Senior Secured Notes:     
 200,000   8.500% due 5/2/23(a)   204,002 
 150,000   8.500% due 5/2/23   153,002 
 209,392   Global Aircraft Leasing Co., Ltd., Senior Unsecured Notes, 6.500% due 9/15/24(a)(c)   209,392 
 260,000   GLP Capital LP/GLP Financing II Inc., Company Guaranteed Notes, 5.300% due 1/15/29   300,063 
     Goldman Sachs Group Inc., Senior Unsecured Notes:     
 1,150,000   2.905% (3-Month USD-LIBOR + 0.990%) due 7/24/23(e)   1,182,466 
 920,000   1.326% (3-Month USD-LIBOR + 1.170%) due 5/15/26(e)   945,756 
 540,000   3.500% due 11/16/26   590,006 
 6,865,000   1.431% (SOFRRATE + 0.798%) due 3/9/27(e)   6,871,838 
 300,000   1.992% (SOFRRATE + 1.090%) due 1/27/32(e)   286,383 
 1,740,000   2.615% (SOFRRATE + 1.281%) due 4/22/32(e)   1,753,476 
 590,000   6.250% due 2/1/41   848,310 
 470,000   Guardian Life Global Funding, Secured Notes, 1.250% due 5/13/26(a)   470,384 
 65,000   Hightower Holding LLC, Company Guaranteed Notes, 6.750% due 4/15/29(a)   65,982 
     HSBC Holdings PLC, Senior Unsecured Notes:     
 1,950,000   3.033% (3-Month USD-LIBOR + 0.923%) due 11/22/23(e)   2,026,246 
 315,000   0.976% (SOFRRATE + 0.708%) due 5/24/25(e)   316,327 
 1,685,000   4.583% (3-Month USD-LIBOR + 1.535%) due 6/19/29(e)   1,929,858 
 1,400,000   3.973% (3-Month USD-LIBOR + 1.610%) due 5/22/30(e)   1,545,170 
     Iron Mountain Inc., Company Guaranteed Notes:     
 70,000   4.875% due 9/15/29(a)   71,750 
 100,000   4.500% due 2/15/31(a)   99,375 
 105,000   iStar Inc., Senior Unsecured Notes, 4.750% due 10/1/24   109,751 
 200,000   Itau Unibanco Holding SA, Junior Subordinated Notes, 4.625% (5-Year CMT Index + 3.222%) (b)(e)   194,650 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
CORPORATE BONDS & NOTES - (continued)     
Financial - 9.2% - (continued)     
     JPMorgan Chase & Co., Senior Unsecured Notes:     
$2,760,000   3.300% due 4/1/26   $3,029,940 
 4,170,000   3.960% (3-Month USD-LIBOR + 1.245%) due 1/29/27(e)    4,663,500 
 730,000   3.509% (3-Month USD-LIBOR + 0.945%) due 1/23/29(e)    799,884 
 5,817,000   2.522% (SOFRRATE + 2.040%) due 4/22/31(e)    5,898,818 
 1,150,000   2.580% (SOFRRATE + 1.250%) due 4/22/32(e)    1,158,727 
 560,000   3.157% (SOFRRATE + 1.460%) due 4/22/42(e)    563,159 
 500,000   Kasikornbank PCL, Junior Subordinated Notes, 5.275% (5-Year CMT Index + 4.940%) (b)(e)    526,875 
 575,000   KeyCorp, Senior Unsecured Notes, 2.550% due 10/1/29    594,566 
 15,000   LD Holdings Group LLC, Company Guaranteed Notes, 6.125% due 4/1/28(a)    14,812 
 875,000   Macquarie Group Ltd., Senior Unsecured Notes, 4.150% (3-Month USD-LIBOR + 1.330%) due 3/27/24(a)(e)    930,107 
 700,000   Malayan Banking Bhd, Subordinated Notes, 3.905% (5-Year USD Swap Rate + 2.542%) due 10/29/26(e)    706,986 
 555,000   Marsh & McLennan Cos., Inc., Senior Unsecured Notes, 4.750% due 3/15/39    692,472 
     Massachusetts Mutual Life Insurance Co., Subordinated Notes:     
 440,000   3.375% due 4/15/50(a)    438,517 
 150,000   3.729% due 10/15/70(a)    150,010 
 405,000   Mastercard Inc., Senior Unsecured Notes, 2.950% due 3/15/51    402,759 
 470,000   Mitsubishi UFJ Financial Group Inc., Senior Unsecured Notes, 0.871% (3-Month USD-LIBOR + 0.740%) due 3/2/23(e)    473,756 
     Morgan Stanley, Senior Unsecured Notes:     
 875,000   3.737% (3-Month USD-LIBOR + 0.847%) due 4/24/24(e)    929,162 
 2,145,000   3.700% due 10/23/24    2,354,721 
 1,120,000   1.593% (SOFRRATE + 0.879%) due 5/4/27(e)    1,130,284 
 5,031,000   3.591% (3-Month USD-LIBOR + 1.340%) due 7/22/28(e)    5,564,742 
 3,600,000   2.699% (SOFRATE + 1.143%) due 1/22/31(e)    3,715,176 
 675,000   1.928% (SOFRRATE + 1.020%) due 4/28/32(e)    643,482 
     Nationstar Mortgage Holdings Inc., Company Guaranteed Notes:     
 30,000   6.000% due 1/15/27(a)    30,937 
 150,000   5.500% due 8/15/28(a)    148,500 
 100,000   Navient Corp., Senior Unsecured Notes, 5.000% due 3/15/27    101,750 
 140,000   New York Life Insurance Co., Subordinated Notes, 3.750% due 5/15/50(a)    149,238 
     NFP Corp.:     
     Senior Secured Notes:     
 20,000   7.000% due 5/15/25(a)    21,925 
 60,000   4.875% due 8/15/28(a)    60,150 
 135,000   Senior Unsecured Notes, 6.875% due 8/15/28(a)    139,528 
 400,000   NongHyup Bank, Senior Unsecured Notes, 1.250% due 7/20/25(a)    400,917 
 725,000   Nuveen Finance LLC, Senior Unsecured Notes, 4.125% due 11/1/24(a)    803,176 
     Office Properties Income Trust, Senior Unsecured Notes:     
 1,230,000   4.250% due 5/15/24    1,312,223 
 3,995,000   4.500% due 2/1/25    4,307,288 
     OneMain Finance Corp., Company Guaranteed Notes:     
 115,000   7.125% due 3/15/26    133,831 
 40,000   6.625% due 1/15/28    45,392 
 90,000   5.375% due 11/15/29    95,737 
 800,000   Oversea-Chinese Banking Corp., Ltd., Subordinated Notes, 4.250% due 6/19/24    874,344 
 60,000   Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co.-Issuer, Senior Secured Notes, 4.875% due 5/15/29(a)    62,124 
        PennyMac Financial Services Inc., Company Guaranteed Notes:        
  95,000     5.375% due 10/15/25(a)       99,750  
  50,000     4.250% due 2/15/29(a)       48,500  

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
CORPORATE BONDS & NOTES - (continued)     
Financial - 9.2% - (continued)     
$500,000   PNC Bank N.A., Subordinated Notes, 2.700% due 10/22/29   $517,942 
 435,000   Progressive Corp., Senior Unsecured Notes, 3.200% due 3/26/30    470,155 
     Realogy Group LLC/Realogy Co.-Issuer Corp.:     
 65,000   Company Guaranteed Notes, 5.750% due 1/15/29(a)    67,910 
 105,000   Secured Notes, 7.625% due 6/15/25(a)    113,794 
 980,000   Royal Bank of Canada, Senior Unsecured Notes, 2.550% due 7/16/24    1,038,492 
     Santander Holdings USA Inc., Senior Unsecured Notes:     
 605,000   3.700% due 3/28/22    619,715 
 435,000   3.400% due 1/18/23    453,379 
 2,992,000   SBA Tower Trust, Asset Backed, 3.722% due 4/11/23(a)    3,029,803 
 250,000   Shinhan Financial Group Co., Ltd., Junior Subordinated Notes, 2.875% (5-Year CMT Index + 2.064%) (a)(b)(e)    248,382 
     Simon Property Group LP, Senior Unsecured Notes:     
 3,000,000   3.500% due 9/1/25    3,289,397 
 1,126,000   3.250% due 9/13/49    1,071,821 
 7,000,000   Standard Chartered PLC, Senior Unsecured Notes, 1.456% (1-Year CMT Index + 1.000%) due 1/14/27(a)(e)    6,920,851 
 1,470,000   State Street Corp., Senior Unsecured Notes, 3.776% (3-Month USD-LIBOR + 0.770%) due 12/3/24(e)    1,592,315 
 355,000   Sumitomo Mitsui Financial Group Inc., Senior Unsecured Notes, 0.930% (3-Month USD-LIBOR + 0.740%) due 1/17/23(e)    358,017 
 4,000,000   Sumitomo Mitsui Trust Bank Ltd., Senior Unsecured Notes, 0.850% due 3/25/24(a)    4,017,702 
     Temasek Financial I Ltd., Company Guaranteed Notes:     
 800,000   1.000% due 10/6/30(a)    735,658 
 250,000   1.000% due 10/6/30    229,893 
 1,254,000   UBS Group AG, Senior Unsecured Notes, 1.364% (1-Year CMT Index + 1.080%) due 1/30/27(a)(e)    1,249,899 
 5,160,000   UDR Inc., Company Guaranteed Notes, 3.200% due 1/15/30    5,480,486 
 823,000   Unifin Financiera SAB de CV, Junior Subordinated Notes, 8.875% (5-Year CMT Index + 6.308%) (b)(e)    625,480 
     United Overseas Bank Ltd.:     
 300,000   Junior Subordinated Notes, 3.875%  (5-Year USD Swap Rate + 1.794%) (b)(e)    310,641 
 400,000   Subordinated Notes, 3.500%  (5-Year USD Swap Rate + 2.236%) due 9/16/26(e)    402,128 
 70,000   Uniti Group LP/Uniti Group Finance Inc./CSL Capital LLC, Company Guaranteed Notes, 6.500% due 2/15/29(a)    69,300 
 5,480,000   Ventas Realty LP, Company Guaranteed Notes, 3.500% due 2/1/25    5,940,993 
 175,000   VEREIT Operating Partnership LP, Company Guaranteed Notes, 2.850% due 12/15/32    178,268 
 25,000   VICI Properties LP/VICI Note Co., Inc., Company Guaranteed Notes, 3.750% due 2/15/27(a)    25,281 
 220,000   Visa Inc., Senior Unsecured Notes, 4.300% due 12/14/45    269,686 
 170,000   Vornado Realty LP, Senior Unsecured Notes, 2.150% due 6/1/26    171,468 
     Weingarten Realty Investors, Senior Unsecured Notes:     
 1,012,000   3.500% due 4/15/23    1,058,741 
 300,000   4.450% due 1/15/24    324,779 
     Wells Fargo & Co.:     
     Senior Unsecured Notes:     
 2,295,000   2.406%  (SOFRRATE + 1.087%) due 10/30/25(e)    2,413,646 
 620,000   3.000%  due 4/22/26    671,082 
 425,000   3.584%  (3-Month USD-LIBOR + 1.310%) due 5/22/28(e)    469,587 
 495,000   5.013%  (SOFRRATE + 4.502%) due 4/4/51(e)    653,155 
 360,000   Subordinated Notes, 4.900%  due 11/17/45    440,675 
 390,000   Welltower Inc., Senior Unsecured Notes, 2.700% due 2/15/27    414,274 
 40,000   WeWork Cos., Inc., Company Guaranteed Notes, 7.875% due 5/1/25(a)    40,300 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
CORPORATE BONDS & NOTES - (continued)     
Financial - 9.2% - (continued)     
     Willis North America Inc., Company Guaranteed Notes:     
$775,000   2.950% due 9/15/29   $813,392 
 445,000   3.875% due 9/15/49    484,876 
 400,000   Woori Bank, Junior Subordinated Notes, 4.250% (5-Year CMT Index + 2.664%) (b)(e)    415,200 
     XHR LP, Senior Secured Notes:     
 100,000   6.375% due 8/15/25(a)    105,793 
 90,000   4.875% due 6/1/29(a)    91,467 
     Total Financial    200,712,014 
Government - 0.0%     
 300,000   Malaysia Sovereign Sukuk Bhd, Unsecured Notes, 3.043% due 4/22/25    322,639 
 500,000   Malaysia Wakala Sukuk Bhd, Senior Unsecured Notes, 3.075% due 4/28/51(a)    502,676 
     Total Government    825,315 
Industrial - 1.9%     
 130,000   Advanced Drainage Systems Inc., Company Guaranteed Notes, 5.000% due 9/30/27(a)    135,486 
 200,000   Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, Senior Unsecured Notes, 4.000% due 9/1/29(a)    197,000 
 415,000   Arrow Electronics Inc., Senior Unsecured Notes, 3.875% due 1/12/28    459,054 
 65,000   Atkore Inc., Senior Unsecured Notes, 4.250% due 6/1/31(a)    64,460 
 455,000   Berry Global Inc., Senior Secured Notes, 0.950% due 2/15/24(a)    456,952 
     Boeing Co., Senior Unsecured Notes:     
 1,025,000   5.040% due 5/1/27    1,181,636 
 460,000   2.950% due 2/1/30    464,243 
 105,000   Bombardier Inc., Senior Unsecured Notes, 6.000% due 10/15/22(a)    105,131 
     Builders FirstSource Inc.:     
 140,000   Company Guaranteed Notes, 5.000%  due 3/1/30(a)    145,790 
 58,000   Senior Secured Notes, 6.750%  due 6/1/27(a)    62,060 
     Carrier Global Corp., Senior Unsecured Notes:     
 270,000   2.242% due 2/15/25    282,289 
 5,210,000   3.577% due 4/5/50    5,294,582 
 415,000   Caterpillar Inc., Senior Unsecured Notes, 2.600% due 4/9/30    436,374 
 45,000   Clean Harbors Inc., Company Guaranteed Notes, 5.125% due 7/15/29(a)    48,744 
 160,000   Cornerstone Building Brands Inc., Company Guaranteed Notes, 6.125% due 1/15/29(a)    170,800 
 470,000   CSX Corp., Senior Unsecured Notes, 3.350% due 9/15/49    474,467 
     FedEx Corp., Company Guaranteed Notes:     
 390,000   4.250% due 5/15/30    447,013 
 185,000   4.750% due 11/15/45    223,064 
 50,000   Fortress Transportation & Infrastructure Investors LLC, Senior Unsecured Notes, 5.500% due 5/1/28(a)    51,899 
 255,000   General Dynamics Corp., Company Guaranteed Notes, 4.250% due 4/1/40    301,941 
     General Electric Co., Senior Unsecured Notes:     
 685,000   3.625% due 5/1/30    752,363 
 345,000   5.875% due 1/14/38    456,630 
 180,000   6.875% due 1/10/39    261,955 
 210,000   GFL Environmental Inc., Company Guaranteed Notes, 4.000% due 8/1/28(a)    202,637 
 70,000   GrafTech Finance Inc., Senior Secured Notes, 4.625% due 12/15/28(a)    71,631 
 105,000   Hillman Group Inc., Company Guaranteed Notes, 6.375% due 7/15/22(a)    105,073 
 885,000   Honeywell International Inc., Senior Unsecured Notes, 1.950% due 6/1/30    885,468 
 85,000   Intelligent Packaging Ltd. Finco Inc./Intelligent Packaging Ltd. Co.-Issuer LLC, Senior Secured Notes, 6.000% due 9/15/28(a)    87,762 
 240,000   Jeld-Wen Inc., Company Guaranteed Notes, 4.625% due 12/15/25(a)    244,200 
 730,000   John Deere Capital Corp., Senior Unsecured Notes, 1.750% due 3/9/27    750,504 
 30,000   Kenan Advantage Group Inc., Senior Unsecured Notes, 7.875% due 7/31/23(a)    30,027 
 505,000   L3Harris Technologies Inc., Senior Unsecured Notes, 3.850% due 6/15/23    537,992 
 300,000   Lockheed Martin Corp., Senior Unsecured Notes, 4.090% due 9/15/52    357,654 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
CORPORATE BONDS & NOTES - (continued)     
Industrial - 1.9% - (continued)     
$145,000   Norfolk Southern Corp., Senior Unsecured Notes, 3.400% due 11/1/49  $148,191 
     Northrop Grumman Corp., Senior Unsecured Notes:     
 4,875,000   2.930% due 1/15/25   5,214,936 
 665,000   5.150% due 5/1/40   851,422 
 1,365,000   Otis Worldwide Corp., Senior Unsecured Notes, 2.565% due 2/15/30   1,393,034 
 200,000   Penske Truck Leasing Co. LP/PTL Finance Corp., Senior Unsecured Notes, 4.200% due 4/1/27(a)   225,276 
     Raytheon Technologies Corp., Senior Unsecured Notes:     
 1,765,000   3.125% due 5/4/27   1,914,125 
 1,457,000   6.700% due 8/1/28   1,881,984 
 1,305,000   Siemens Financieringsmaatschappij NV, Company Guaranteed Notes, 1.200% due 3/11/26(a)   1,306,092 
 678,668   Stoneway Capital Corp., Senior Secured Notes, 10.000% due 3/1/27(d)(g)   174,757 
 145,000   Tervita Corp., Secured Notes, 11.000% due 12/1/25(a)   162,762 
 690,000   Textron Inc., Senior Unsecured Notes, 2.450% due 3/15/31   682,166 
 55,000   Titan Acquisition Ltd./Titan Co.-Borrower LLC, Senior Unsecured Notes, 7.750% due 4/15/26(a)   57,003 
 360,000   Trane Technologies Luxembourg Finance SA, Company Guaranteed Notes, 4.500% due 3/21/49   434,997 
     TransDigm Inc.:     
     Company Guaranteed Notes:     
 125,000   5.500% due 11/15/27   130,313 
 75,000   4.875% due 5/1/29(a)   74,094 
     Senior Secured Notes:     
 35,000   8.000% due 12/15/25(a)   37,856 
 220,000   6.250% due 3/15/26(a)   231,898 
 140,000   Trident TPI Holdings Inc., Company Guaranteed Notes, 6.625% due 11/1/25(a)   142,800 
     Triumph Group Inc.:     
 109,000   Company Guaranteed Notes, 7.750%  due 8/15/25   111,453 
 55,000   Secured Notes, 6.250%  due 9/15/24(a)   55,971 
     Union Pacific Corp., Senior Unsecured Notes:     
 740,000   2.375% due 5/20/31   741,759 
 2,075,000   3.950% due 8/15/59   2,247,055 
 705,000   2.973% due 9/16/62(a)   634,177 
 200,000   Vertical US Newco Inc., Senior Secured Notes, 5.250% due 7/15/27(a)   208,000 
 510,000   Vontier Corp., Company Guaranteed Notes, 1.800% due 4/1/26(a)   509,266 
 210,000   Waste Management Inc., Company Guaranteed Notes, 2.000% due 6/1/29   210,477 
 130,000   Waste Pro USA Inc., Senior Unsecured Notes, 5.500% due 2/15/26(a)   132,275 
     WRKCo Inc., Company Guaranteed Notes:     
 415,000   3.750% due 3/15/25   456,203 
 5,245,000   3.900% due 6/1/28   5,871,890 
     Total Industrial   41,989,113 
Technology - 2.1%       
 545,000   Activision Blizzard Inc., Senior Unsecured Notes, 2.500% due 9/15/50   464,244 
     Apple Inc., Senior Unsecured Notes:     
 5,130,000   1.125% due 5/11/25   5,204,925 
 240,000   1.200% due 2/8/28   235,210 
 975,000   1.250% due 8/20/30   918,453 
 1,090,000   3.850% due 5/4/43   1,242,670 
 240,000   2.650% due 2/8/51   224,178 
 205,000   Ascend Learning LLC, Senior Unsecured Notes, 6.875% due 8/1/25(a)   208,844 
 45,000   Austin BidCo Inc., Senior Unsecured Notes, 7.125% due 12/15/28(a)   45,000 
 60,000   Banff Merger Sub Inc., Senior Unsecured Notes, 9.750% due 9/1/26(a)   63,525 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
CORPORATE BONDS & NOTES - (continued)     
Technology – 2.1% - (continued)     
$15,000   Boxer Parent Co., Inc., Senior Secured Notes, 7.125% due 10/2/25(a)  $16,089 
     Broadcom Inc.:     
 4,035,000   Company Guaranteed Notes, 4.110%  due 9/15/28   4,458,108 
 1,162,000   Senior Unsecured Notes, 3.419%  due 4/15/33(a)   1,185,020 
 45,000   Camelot Finance SA, Senior Secured Notes, 4.500% due 11/1/26(a)   46,631 
 125,000   Castle US Holding Corp., Senior Unsecured Notes, 9.500% due 2/15/28(a)   129,062 
 385,000   Dell International LLC/EMC Corp., Senior Secured Notes, 6.020% due 6/15/26(a)   458,980 
 1,195,000   Fidelity National Information Services Inc., Senior Unsecured Notes, 2.250% due 3/1/31   1,170,482 
 2,325,000   Fiserv Inc., Senior Unsecured Notes, 2.250% due 6/1/27   2,403,750 
 5,794,000   Hewlett Packard Enterprise Co., Senior Unsecured Notes, 0.914% (3-Month USD-LIBOR + 0.720%) due 10/5/21(e)   5,794,950 
     Intel Corp., Senior Unsecured Notes:     
 335,000   2.450% due 11/15/29   347,680 
 810,000   3.250% due 11/15/49   820,822 
     International Business Machines Corp., Senior Unsecured Notes:     
 215,000   3.300% due 5/15/26   236,628 
 1,430,000   1.950% due 5/15/30   1,408,754 
     Marvell Technology Inc., Company Guaranteed Notes:     
 795,000   2.450% due 4/15/28(a)   800,149 
 610,000   2.950% due 4/15/31(a)   617,342 
 770,000   Microchip Technology Inc., Senior Secured Notes, 2.670% due 9/1/23(a)   802,580 
 580,000   Microsoft Corp., Senior Unsecured Notes, 2.921% due 3/17/52   580,514 
 235,000   NetApp Inc., Senior Unsecured Notes, 1.875% due 6/22/25   242,589 
     NVIDIA Corp., Senior Unsecured Notes:     
 1,065,000   2.850% due 4/1/30   1,133,769 
 50,000   3.500% due 4/1/40   54,450 
 2,200,000   NXP BV/NXP Funding LLC, Company Guaranteed Notes, 4.875% due 3/1/24(a)   2,436,347 
     Oracle Corp., Senior Unsecured Notes:     
 520,000   1.900% due 9/15/21   521,851 
 1,140,000   2.300% due 3/25/28   1,164,231 
 650,000   2.875% due 3/25/31   665,877 
 1,960,000   3.600% due 4/1/50   1,929,320 
 355,000   3.950% due 3/25/51   368,669 
 230,000   4.100% due 3/25/61   240,864 
 10,000   Rackspace Technology Global Inc., Company Guaranteed Notes, 5.375% due 12/1/28(a)   10,091 
 395,000   Roper Technologies Inc., Senior Unsecured Notes, 4.200% due 9/15/28   450,046 
 220,000   salesforce.com Inc., Senior Unsecured Notes, 3.250% due 4/11/23   231,846 
 60,000   Science Applications International Corp., Company Guaranteed Notes, 4.875% due 4/1/28(a)   62,344 
 75,000   Seagate HDD Cayman, Company Guaranteed Notes, 3.375% due 7/15/31(a)   71,063 
 6,680,000   Xilinx Inc., Senior Unsecured Notes, 2.375% due 6/1/30   6,698,249 
     Total Technology   46,166,196 
Utilities - 2.6%    
 310,000   AEP Texas Inc., Senior Unsecured Notes, 3.450% due 1/15/50   308,390 
 300,000   AES Andres BV, Company Guaranteed Notes, 5.700% due 5/4/28(a)   309,375 
 200,000   AES Gener SA, Junior Subordinated Notes, 6.350% (5-Year CMT Index + 4.917%) due 10/7/79(a)(e)   212,754 
 425,000   Alabama Power Co., Senior Unsecured Notes, 3.450% due 10/1/49   451,622 
 1,065,000   American Water Capital Corp., Senior Unsecured Notes, 3.750% due 9/1/28   1,192,099 
     Berkshire Hathaway Energy Co., Senior Unsecured Notes:     
 775,000   6.125% due 4/1/36   1,055,086 
 1,100,000   5.950% due 5/15/37   1,483,690 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
CORPORATE BONDS & NOTES - (continued)     
Utilities - 2.6% - (continued)     
     Calpine Corp.:     
     Senior Unsecured Notes:     
$60,000   5.125%  due 3/15/28(a)  $60,450 
 75,000   4.625%  due 2/1/29(a)   73,125 
 95,000   Senior Secured Notes, 4.500%  due 2/15/28(a)   96,069 
 200,000   Chile Electricity PEC SpA, Senior Secured Notes, zero coupon, due 1/25/28(a)   163,500 
 70,000   Cleco Corporate Holdings LLC, Senior Unsecured Notes, 4.973% due 5/1/46   79,753 
 360,000   Commonwealth Edison Co., 1st Mortgage Notes, 4.000% due 3/1/48   414,681 
 470,000   Dominion Energy Inc., Senior Unsecured Notes, 3.900% due 10/1/25   521,191 
 500,000   Dominion Energy South Carolina Inc., 1st Mortgage Notes, 5.100% due 6/1/65   687,735 
     Duke Energy Carolinas LLC, 1st Mortgage Notes:     
 545,000   2.550% due 4/15/31   559,669 
 1,590,000   5.300% due 2/15/40   2,096,803 
     Duke Energy Corp., Senior Unsecured Notes:     
 5,000,000   0.900% due 9/15/25   4,955,177 
 645,000   2.650% due 9/1/26   682,764 
 208,650   Empresa Electrica Angamos SA, Senior Secured Notes, 4.875% due 5/25/29   208,650 
 900,000   Empresa Electrica Guacolda SA, Senior Unsecured Notes, 4.560% due 4/30/25   674,632 
 216,000   Empresa Generadora de Electricidad Itabo SA, Company Guaranteed Notes, 7.950% due 5/11/26   222,480 
 200,000   Empresas Publicas de Medellin ESP, Senior Unsecured Notes, 4.375% due 2/15/31   196,040 
 200,000   ENN Energy Holdings Ltd., Senior Unsecured Notes, 3.250% due 7/24/22   204,453 
 495,000   Essential Utilities Inc., Senior Unsecured Notes, 3.351% due 4/15/50   490,312 
 880,000   Evergy Inc., Senior Unsecured Notes, 2.900% due 9/15/29   908,830 
 172,353   Fenix Power Peru SA, Senior Unsecured Notes, 4.317% due 9/20/27   174,507 
 510,000   Georgia Power Co., Senior Unsecured Notes, 2.100% due 7/30/23   528,467 
 750,000   ITC Holdings Corp., Senior Unsecured Notes, 2.950% due 5/14/30(a)   780,053 
 200,000   JSW Hydro Energy Ltd., Senior Secured Notes, 4.125% due 5/18/31(a)   201,400 
     Korea East-West Power Co., Ltd., Senior Unsecured Notes:     
 200,000   1.750% due 5/6/25(a)   204,153 
 400,000   1.750% due 5/6/25   408,305 
 729,600   LLPL Capital Pte Ltd., Senior Secured Notes, 6.875% due 2/4/39(a)   850,896 
     Minejesa Capital BV, Senior Secured Notes:     
 600,000   4.625% due 8/10/30   624,300 
 300,000   5.625% due 8/10/37   311,250 
 155,000   Monongahela Power Co., 1st Mortgage Notes, 5.400% due 12/15/43(a)   195,759 
     NextEra Energy Capital Holdings Inc., Company Guaranteed Notes:     
 6,920,000   0.685% (3-Month USD-LIBOR + 0.550%) due 8/28/21(e)   6,922,275 
 445,000   2.750% due 5/1/25   473,700 
 1,175,000   2.250% due 6/1/30   1,170,280 
 1,375,000   NiSource Inc., Senior Unsecured Notes, 3.600% due 5/1/30   1,503,322 
 200,000   NRG Energy Inc., Company Guaranteed Notes, 3.625% due 2/15/31(a)   191,750 
 920,000   Oglethorpe Power Corp., 1st Mortgage Notes, 5.050% due 10/1/48   1,121,406 
     Pacific Gas & Electric Co.:     
 1,730,000   1st Mortgage Notes, 2.500%  due 2/1/31   1,598,908 
 265,000   Senior Secured Notes, 1.367%  due 3/10/23   265,220 
 140,000   PacifiCorp, 1st Mortgage Notes, 3.300% due 3/15/51   142,862 
 75,000   PG&E Corp., Senior Secured Notes, 5.000% due 7/1/28   74,625 
 140,000   Pike Corp., Company Guaranteed Notes, 5.500% due 9/1/28(a)   142,846 
     Puget Energy Inc., Senior Secured Notes:     
 735,000   3.650% due 5/15/25   793,441 
 830,000   4.100% due 6/15/30   915,511 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
CORPORATE BONDS & NOTES - (continued)     
Utilities - 2.6% - (continued)       
     Sempra Energy, Senior Unsecured Notes:     
$1,395,000   3.400% due 2/1/28  $1,516,097 
 6,932,000   4.000% due 2/1/48   7,488,787 
 185,827   Southaven Combined Cycle Generation LLC, Secured Notes, 3.846% due 8/15/33   207,484 
     Southern California Edison Co., 1st Mortgage Notes:     
 330,000   2.850% due 8/1/29   339,781 
 970,000   4.125% due 3/1/48   1,002,942 
 5,000,000   4.875% due 3/1/49   5,776,270 
 2,745,000   Southern Co., Senior Unsecured Notes, 3.700% due 4/30/30   3,003,176 
 300,000   State Grid Overseas Investment 2013 Ltd., Company Guaranteed Notes, 3.125% due 5/22/23   313,998 
     Total Utilities   57,553,101 
     TOTAL CORPORATE BONDS & NOTES     
     (Cost - $595,743,741)   583,741,814 
COLLATERALIZED MORTGAGE OBLIGATIONS - 23.2%     
 523,604   Ajax Mortgage Loan Trust, Series 2021-C, Class A, step bond to yield, 2.115% due 1/25/61(a)(g)   530,154 
 750,000   Alen Mortgage Trust, Series 2021-ACEN, Class D, 3.201% (1-Month USD-LIBOR + 3.100%) due 4/15/34(a)(e)   749,999 
     Alternative Loan Trust:     
 844,141   Series 2005-28CB, Class 1A7, 5.500% due 8/25/35   840,871 
 6,558,618   Series 2005-7CB, Class 2A2, 4.958% (1-Month USD-LIBOR + 5.050%) due 3/1/38(e)(h)   810,702 
 6,558,618   Series 2005-7CB, Class 2A5, 0.542% (1-Month USD-LIBOR + 0.450%) due 3/1/38(e)   5,413,729 
 3,265,355   Series 2007-4CB, Class 1A1, 0.692% (1-Month USD-LIBOR + 0.600%) due 4/25/37(e)   2,629,979 
     Angel Oak Mortgage Trust:     
 1,178,825   Series 2020-R1, Class A1, 0.990% due 4/25/53(a)(e)   1,180,376 
 1,152,284   Series 2021-1, Class A1, 0.909% due 1/25/66(a)(e)   1,149,773 
 835,000   Series 2021-2, Class A1, 0.985% due 4/25/66(a)(e)   839,295 
     Angel Oak Mortgage Trust I LLC:     
 463,126   Series 2018-3, Class A1, 3.649% due 9/25/48(a)(e)   466,225 
 658,812   Series 2018-3, Class A2, 3.751% due 9/25/48(a)(e)   662,493 
 629,117   Series 2018-3, Class A3, 3.853% due 9/25/48(a)(e)   631,938 
 744,246   Ashford Hospitality Trust, Series 2018-ASHF, Class A, 1.001% (1-Month USD-LIBOR + 0.900%) due 4/15/35(a)(e)   743,346 
     BANK:     
 12,093,554   Series 2017-BNK4, Class XA, 1.392% due 5/15/50(e)(h)   710,339 
 16,086,834   Series 2018-BN10, Class XA, 0.727% due 2/15/61(e)(h)   665,046 
 7,540,000   Series 2020-BN30, Class A4, 1.925% due 12/15/53   7,398,916 
 12,706,589   Series 2021-BN32, Class XA, 0.785% due 4/15/54(e)(h)   770,716 
     BBCMS Mortgage Trust:     
 178,000   Series 2017-DELC, Class C, 1.301% (1-Month USD-LIBOR + 1.200%) due 8/15/36(a)(e)   177,890 
 203,000   Series 2017-DELC, Class D, 1.801% (1-Month USD-LIBOR + 1.700%) due 8/15/36(a)(e)   202,752 
 408,000   Series 2017-DELC, Class E, 2.601% (1-Month USD-LIBOR + 2.500%) due 8/15/36(a)(e)   405,454 
 407,000   Series 2017-DELC, Class F, 3.601% (1-Month USD-LIBOR + 3.500%) due 8/15/36(a)(e)   396,779 
 1,236,000   Series 2018-TALL, Class F, 3.336% (1-Month USD-LIBOR + 3.235%) due 3/15/37(a)(e)   1,116,777 
 1,800,000   Series 2020-C6, Class A4, 2.639% due 2/15/53   1,881,794 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
COLLATERALIZED MORTGAGE OBLIGATIONS - 23.2% (continued)     
$1,485,143   Series 2020-C7, Class XA, 1.630% due 4/15/53(e)(h)  $157,381 
     BBCMS Trust:     
 103,488   Series 2018-BXH, Class A, 1.101% (1-Month USD-LIBOR + 1.000%) due 10/15/37(a)(e)   103,673 
 1,083,000   Series 2018-CBM, Class A, 1.101% (1-Month USD-LIBOR + 1.000%) due 7/15/37(a)(e)   1,085,141 
 3,393,486   Bear Stearns ALT-A Trust, Series 2006-1, Class 21A2, 2.959% due 2/25/36(e)   2,857,387 
     Benchmark Mortgage Trust:     
 35,430,733   Series 2018-B7, Class XA, 0.439% due 5/15/53(e)(h)   899,689 
 2,374,155   Series 2020-B22, Class XA, 1.522% due 1/15/54(e)(h)   284,971 
 997,000   BHMS, Series 2018-ATLS, Class A, 1.351% (1-Month USD-LIBOR + 1.250%) due 7/15/35(a)(e)   996,982 
 3,634,843   BRAVO Residential Funding Trust, Series 2021-A, Class A1, step bond to yield, 1.991% due 12/31/49(a)   3,642,105 
     BX Commercial Mortgage Trust:     
 7,734,000   Series 2018-BIOA, Class D, 1.422% (1-Month USD-LIBOR + 1.321%) due 3/15/37(a)(e)   7,746,276 
 4,445,000   Series 2018-IND, Class D, 1.401% (1-Month USD-LIBOR + 1.300%) due 11/15/35(a)(e)   4,446,333 
 280,000   Series 2018-IND, Class E, 1.801% (1-Month USD-LIBOR + 1.700%) due 11/15/35(a)(e)   280,084 
 599,557   Series 2019-XL, Class D, 1.551% (1-Month USD-LIBOR + 1.450%) due 10/15/36(a)(e)   599,918 
 3,972,064   Series 2019-XL, Class E, 1.901% (1-Month USD-LIBOR + 1.800%) due 10/15/36(a)(e)   3,974,557 
 3,466,188   Series 2019-XL, Class F, 2.101% (1-Month USD-LIBOR + 2.000%) due 10/15/36(a)(e)   3,468,469 
     BX Trust:     
 175,664   Series 2017-SLCT, Class D, 2.151% (1-Month USD-LIBOR + 2.050%) due 7/15/34(a)(e)   175,996 
 474,300   Series 2017-SLCT, Class E, 3.251% (1-Month USD-LIBOR + 3.150%) due 7/15/34(a)(e)   475,482 
 112,516   Series 2018-EXCL, Class A, 1.189% (1-Month USD-LIBOR + 1.088%) due 9/15/37(a)(e)   109,837 
 903,000   Series 2018-GW, Class A, 0.901% (1-Month USD-LIBOR + 0.800%) due 5/15/35(a)(e)   903,834 
 1,529,000   Series 2019-OC11, Class E, 4.075% due 12/9/41(a)(e)   1,596,078 
 1,400,000   Series 2021-MFM1, Class D, 1.601% (1-Month USD-LIBOR + 1.500%) due 1/15/34(a)(e)   1,399,999 
 366,000   CAMB Commercial Mortgage Trust, Series 2019-LIFE, Class A, 1.171% (1-Month USD-LIBOR + 1.070%) due 12/15/37(a)(e)   366,685 
 354,675   Cascade MH Asset Trust, Series 2021-MH1, Class A1, 1.753% due 2/25/46(a)(g)   357,650 
 19,768,725   CD Mortgage Trust, Series 2017-CD4, Class XA, 1.285% due 5/10/50(e)(h)   1,047,464 
 15,882,518   CFCRE Commercial Mortgage Trust, Series 2017-C8, Class XA, 1.590% due 6/15/50(e)(h)   1,053,799 
 2,724,000   CGDB Commercial Mortgage Trust, Series 2019-MOB, Class E, 2.101% (1-Month USD-LIBOR + 2.000%) due 11/15/36(a)(e)   2,711,973 
     Citigroup Commercial Mortgage Trust:     
 1,415,000   Series 2015-GC31, Class A4, 3.762% due 6/10/48   1,557,671 
 34,024,456   Series 2015-GC35, Class XA, 0.777% due 11/10/48(e)(h)   895,782 
 7,640,000   Series 2019-GC43, Class A4, 3.038% due 11/10/52   8,205,355 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
COLLATERALIZED MORTGAGE OBLIGATIONS - 23.2% (continued)     
     Citigroup Mortgage Loan Trust:     
$5,747,458   Series 2018-A, Class A1, 4.000% due 1/25/68(a)(e)  $5,759,285 
 2,463,052   Series 2019-B, Class A1, 3.258% due 4/25/66(a)(e)   2,484,363 
 3,250,750   Cold Storage Trust, Series 2020-ICE5, Class B, 1.401% (1-Month USD-LIBOR + 1.300%) due 11/15/37(a)(e)   3,267,757 
 586,530   COLT Mortgage Loan Trust, Series 2021-2R, Class A1, 0.798% due 7/27/54(a)(e)(g)   585,203 
     Commercial Mortgage Trust:     
 200,428,219   Series 2013-CR9, Class XA, 0.067% due 7/10/45(e)(h)   189,465 
 1,050,000   Series 2015-CR23, Class A4, 3.497% due 5/10/48   1,147,246 
 800,000   Series 2016-DC2, Class C, 4.672% due 2/10/49(e)   859,795 
 5,650,000   Series 2020-CX, Class A, 2.173% due 11/10/46(a)   5,636,259 
 1,150,000   Series 2020-CX, Class C, 2.683% due 11/10/46(a)(e)   1,158,090 
 3,750,000   Series 2020-SBX, Class C, 2.056% due 1/10/38(a)(e)   3,767,328 
     Credit Suisse Commercial Mortgage Capital Trust:     
 710,572   Series 2021-AFC1, Class A1, 0.830% due 3/25/56(a)(e)   710,255 
 482,300   Series 2021-RPL4, Class A1, 1.796% due 12/27/60(a)(e)   482,859 
     Credit Suisse Mortgage Capital Certificates:     
 110,000   Series 2019-ICE4, Class C, 1.531% (1-Month USD-LIBOR + 1.430%) due 5/15/36(a)(e)   110,132 
 6,885,000   Series 2019-ICE4, Class E, 2.251% (1-Month USD-LIBOR + 2.150%) due 5/15/36(a)(e)   6,898,139 
     CSAIL Commercial Mortgage Trust:     
 1,985,982   Series 2015-C4, Class A3, 3.544% due 11/15/48   2,153,600 
 1,205,000   Series 2018-C14, Class C, 4.890% due 11/15/51(e)   1,333,044 
 2,084,504   CSFB Mortgage-Backed Pass-Through Certificates, Series 2005-9, Class 5A6, 5.500% due 10/25/35   1,649,122 
     CSMC:     
 555,000   Series 2020-NET, Class A, 2.257% due 8/15/37(a)   573,422 
 443,041   Series 2021-NQM1, Class A1, 0.809% due 5/25/65(a)(e)   442,572 
 1,589,918   Series 2021-NQM2, Class A1, 1.179% due 2/25/66(a)(e)   1,593,224 
     DBGS Mortgage Trust:     
 1,856,278   Series 2018-BIOD, Class B, 0.989% (1-Month USD-LIBOR + 0.888%) due 5/15/35(a)(e)   1,856,819 
 4,529,318   Series 2018-BIOD, Class E, 1.801% (1-Month USD-LIBOR + 1.700%) due 5/15/35(a)(e)   4,529,227 
     DBJPM Mortgage Trust:     
 21,195,000   Series 2017-C6, Class XB, 0.234% due 6/10/50(e)(h)   374,272 
 2,232,659   Series 2020-C9, Class XA, 1.713% due 9/15/53(e)(h)   231,064 
 610,000   DC Office Trust, Series 2019-MTC, Class A, 2.965% due 9/15/45(a)   646,661 
 419,919   Deephaven Residential Mortgage Trust, Series 2021-1, Class A1, 0.715% due 5/25/65(a)(e)   420,212 
 257,283   Ellington Financial Mortgage Trust, Series 2021-1, Class A1, 0.797% due 2/25/66(a)(e)   257,386 
     Federal Home Loan Mortgage Corp. (FHLMC). REMICS:     
 1,944,060   Series 4116, Class AP, 1.350% due 8/15/42   1,959,337 
 5,518,778   Series 4223, Class SB, 5.298% (1-Month USD-LIBOR + 5.431%) due 7/15/43(e)   5,689,656 
 12,263,464   Series 4640, Class VB, 3.000% due 3/15/37   12,564,353 
 8,760,457   Series 4655, Class CZ, 3.000% due 2/15/47   9,196,505 
 20,401,448   Series 4726, Class Z, 3.500% due 10/15/47   22,229,046 
 5,958,251   Series 4750, Class PA, 3.000% due 7/15/46   6,152,985 
 6,756,279   Series 4892, Class ES, 6.058% (1-Month USD-LIBOR + 6.150%) due 7/25/45(e)(h)   1,600,606 
 222,647   Federal National Mortgage Association (FNMA) REMICS, Series 2011-51, Class TO, zero coupon, due 6/25/41(i)   207,680 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
COLLATERALIZED MORTGAGE OBLIGATIONS - 23.2% (continued)     
     Federal National Mortgage Association (FNMA), Aces:     
$7,888,821   Series 2017-M2, Class A2, 2.797% due 2/25/27(e)  $8,592,204 
 4,695,000   Series 2018-M14, Class A2, 3.578% due 8/25/28(e)   5,369,020 
 1,395,000   Series 2018-M7, Class A2, 3.052% due 3/25/28(e)   1,547,219 
 14,400,886   Series 2020-M15, Class X1, 1.575% due 9/25/31(e)(h)   1,851,853 
 20,987,469   Series 2020-M7, Class X2, 1.242% due 3/25/31(e)(h)   1,918,651 
     Federal National Mortgage Association (FNMA), REMICS:     
 3,235,920   Series 2014-11, Class KZ, 2.500% due 10/25/41   3,343,296 
 2,067,332   Series 2015-55, Class PD, 2.500% due 3/25/43   2,122,659 
 3,003,347   Series 2017-107, Class GA, 3.000% due 8/25/45   3,040,050 
 7,731,019   Series 2017-24, Class LG, 3.000% due 4/25/37   8,324,157 
 1,341,575   Series 2017-32, Class CA, 3.000% due 10/25/42   1,345,061 
 6,417,533   Series 2018-33, Class C, 3.000% due 5/25/48   6,713,851 
 2,843,356   Series 2018-38, Class LA, 3.000% due 6/25/48   2,976,212 
 4,000,000   FMC GMSR Issuer Trust, Series 2019-GT2, Class A, 4.230% due 9/25/24(a)(e)   4,007,675 
     Freddie Mac Multifamily Structured Pass-Through Certificates:     
 114,164,569   Series K064, Class X1, 0.604% due 3/25/27(e)(h)   3,642,432 
 6,770,000   Series K084, Class A2, 3.780% due 10/25/28(e)   7,835,776 
 8,000,000   Series K085, Class A2, 4.060% due 10/25/28(e)   9,410,138 
 2,975,000   Series K088, Class A2, 3.690% due 1/25/29   3,436,674 
 14,991,431   Series K112, Class X1, 1.433% due 5/25/30(e)(h)   1,678,310 
 30,171,174   Series K116, Class X1, 1.427% due 7/25/30(e)(h)   3,332,041 
 40,153,504   Series K119, Class X1, 0.933% due 9/25/30(e)(h)   2,995,223 
 22,785,387   Series K120, Class X1, 1.039% due 10/25/30(e)(h)   1,880,590 
 41,782,274   Series K121, Class X1, 1.028% due 10/25/30(e)(h)   3,410,992 
 12,792,115   Series K122, Class X1, 0.883% due 11/25/30(e)(h)   911,903 
 36,284,867   Series K123, Class X1, 0.775% due 12/25/30(e)(h)   2,292,594 
 23,973,191   Series K124, Class X1, 0.722% due 12/25/30(e)(h)   1,444,622 
 53,974,581   Series K125, Class X1, 0.586% due 1/25/31(e)(h)   2,661,983 
 30,963,947   Series K-1519, Class X1, 0.611% due 12/25/35(e)(h)   2,062,790 
 8,000,000   Series KIR3, Class A2, 3.281% due 8/25/27   8,933,602 
 1,500,000   Series Q001, Class A3, 3.815% due 2/25/32   1,675,882 
     FREMF Mortgage Trust:     
 2,000,000   Series 2019-K102, Class B, 3.530% due 12/25/51(a)(e)   2,169,135 
 860,000   Series 2019-K97, Class B, 3.764% due 9/25/51(a)(e)   946,914 
 1,885,000   Series 2020-K105, Class B, 3.530% due 3/25/53(a)(e)   2,013,095 
 1,695,974   FWDSecuritization Trust, Series 2019-INV1, Class A3, 3.110% due 6/25/49(a)(e)   1,734,505 
     GCAT Trust:     
 1,284,128   Series 2021-NQM1, Class A1, 0.874% due 1/25/66(a)(e)   1,281,306 
 865,000   Series 2021-NQM2, Class A1, 0.874% due 5/25/66(a)   864,984 
     Government National Mortgage Association (GNMA):     
 1,918,015   Series 2012-32, Class Z, 3.500% due 3/20/42   2,069,739 
$17,126,315   Series 2021-30, Class IB, 2.500% due 2/20/51(h)   2,635,550 
 20,664,647   Series 2021-35, Class IO, 1.014% due 12/16/62(e)(h)   1,927,158 
 23,519,378   Series 2021-52, Class IO, 0.848% due 4/16/63(e)(h)   1,889,373 
 21,935,874   Series 2021-58, Class SL, 3.651% (1-Month USD-LIBOR + 3.750%) due 4/20/51(e)(h)   2,622,853 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
  Security    Value  
COLLATERALIZED MORTGAGE OBLIGATIONS - 23.2% (continued)        
$22,529,000   Government National Mortgage Association (GNMA), 0.000% due 8/16/63(g)  $ 1,955,968  
     Great Wolf Trust:        
 500,000   Series 2019-WOLF, Class E, 2.833% (1-Month USD-LIBOR + 2.732%) due 12/15/36(a)(e)    489,344  
 500,000   Series 2019-WOLF, Class F, 3.232% (1-Month USD-LIBOR + 3.131%) due 12/15/36(a)(e)    485,547  
     GS Mortgage Securities Corp. Trust:        
 400,000   Series 2018-TWR, Class D, 1.701% (1-Month USD-LIBOR + 1.600%) due 7/15/31(a)(e)    394,163  
 400,000   Series 2018-TWR, Class E, 2.201% (1-Month USD-LIBOR + 2.100%) due 7/15/31(a)(e)    384,627  
 400,000   Series 2018-TWR, Class F, 2.901% (1-Month USD-LIBOR + 2.800%) due 7/15/31(a)(e)    376,423  
 400,000   Series 2018-TWR, Class G, 4.026% (1-Month USD-LIBOR + 3.925%) due 7/15/31(a)(e)    349,030  
 1,250,000   Series 2019-SOHO, Class E, 1.976% (1-Month USD-LIBOR + 1.875%) due 6/15/36(a)(e)    1,190,866  
     GS Mortgage Securities Trust:        
 705,000   Series 2015-GC30, Class A4, 3.382% due 5/10/50    764,708  
 10,418,026   Series 2017-GS7, Class XA, 1.116% due 8/10/50(e)(h)    545,720  
 1,400,000   Series 2018-GS9, Class A4, 3.992% due 3/10/51(e)    1,584,600  
 1,200,000   Series 2018-GS9, Class C, 4.360% due 3/10/51(e)    1,314,824  
 1,500,000   Series 2020-GC45, Class A5, 2.911% due 2/13/53    1,598,027  
 6,683,350   HarborView Mortgage Loan Trust, Series 2006-14, Class 2A1A, 0.248% (1-Month USD-LIBOR + 0.150%) due 1/25/47(e)    6,272,847  
 1,011,224   HPLY Trust, Series 2019-HIT, Class F, 3.251% (1-Month USD-LIBOR + 3.150%) due 11/15/36(a)(e)    973,173  
     IMT Trust:        
 4,689,388   Series 2017-APTS, Class BFL, 1.051% (1-Month USD-LIBOR + 0.950%) due 6/15/34(a)(e)    4,685,874  
 774,524   Series 2017-APTS, Class CFL, 1.201% (1-Month USD-LIBOR + 1.100%) due 6/15/34(a)(e)    774,598  
 33,247   JP Morgan Chase Commercial Mortgage Securities Corp., Series 2017-FL10, Class D, 2.001% (1-Month USD-LIBOR + 1.900%) due 6/15/32(a)(e)    33,173  
     JP Morgan Chase Commercial Mortgage Securities Trust:        
 446,354   Series 2018-LAQ, Class A, 1.101% (1-Month USD-LIBOR + 1.000%) due 6/15/32(a)(e)    446,651  
 805,000   Series 2018-WPT, Class FFX, 5.542% due 7/5/33(a)(e)    813,905  
 1,950,000   Series 2019-OSB, Class A, 3.397% due 6/5/39(a)    2,133,265  
 823,000   Series 2020-ACE, Class C, 3.694% due 1/10/37(a)(e)    793,536  
 805,000   Series 2020-LOOP, Class E, 3.861% due 12/5/38(a)(e)    789,928  
     JP Morgan Mortgage Trust:        
 3,251,586   Series 2006-S1, Class 2A9, 6.500% due 4/25/36    3,347,112  
 7,386,482   Series 2006-S4, Class A7, 6.000% due 1/25/37    4,776,712  
 1,612,099   Series 2021-3, Class B1, 2.963% due 7/1/51(a)(e)    1,659,619  

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Core Fixed Income Fund (continued) 

Face
Amount/Units
  Security    Value  
COLLATERALIZED MORTGAGE OBLIGATIONS - 23.2% (continued)        
     JPMBB Commercial Mortgage Securities Trust:        
$380,000   Series 2014-C26, Class C, 4.379% due 1/15/48(e)  $ 397,936  
 1,667,000   Series 2015-C27, Class C, 4.306% due 2/15/48(e)    1,711,865  
 2,200,000   Series 2015-C28, Class A4, 3.227% due 10/15/48    2,366,012  
 1,205,000   Series 2015-C28, Class C, 4.155% due 10/15/48(e)    1,247,983  
 529,000   Series 2016-C1, Class A5, 3.576% due 3/15/49    582,482  
 1,100,000   JPMCC Commercial Mortgage Securities Trust, Series 2017-JP6, Class A5, 3.490% due 7/15/50    1,217,169  
 1,123,000   JPMDB Commercial Mortgage Securities Trust, Series 2020-COR7, Class B, 3.294% due 5/13/53(e)    1,197,878  
     Legacy Mortgage Asset Trust:        
 1,041,124   Series 2019-SL3, Class A, step bond to yield, 3.474% due 11/25/61(a)    1,050,416  
 480,343   Series 2021-GS2, Class A1, step bond to yield, 1.750% due 4/25/61(a)    481,395  
 605,000   Series 2021-GS3, Class A1, step bond to yield, 1.750% due 7/25/61(a)    605,253  
 4,578,311   Lehman XS Trust, Series 2007-4N, Class 1A3, 0.332% (1-Month USD-LIBOR + 0.240%) due 3/25/47(e)    4,485,272  
 3,235,000   Life Mortgage Trust, Series 2021-BMR, Class D, 1.501% (1-Month USD-LIBOR + 1.400%) due 3/15/38(a)(e)    3,245,128  
 6,851,669   Merrill Lynch Mortgage Investors Trust, Series 2006-AF1, Class AF1, 5.750% due 8/25/36    3,967,672  
 903,936   MFA Trust, Series 2021-NQM1, Class A1, 1.153% due 4/25/65(a)(e)    904,053  
     Morgan Stanley Bank of America Merrill Lynch Trust:        
 2,000,000   Series 2014-C17, Class C, 4.479% due 8/15/47(e)    2,139,626  
 17,392,214   Series 2014-C19, Class XA, 0.999% due 12/15/47(e)(h)    498,487  
 2,583,782   Series 2015-C20, Class A4, 3.249% due 2/15/48    2,782,566  
 1,405,000   Series 2015-C26, Class A5, 3.531% due 10/15/48    1,541,226  
 1,652,000   Series 2016-C31, Class C, 4.290% due 11/15/49(e)    1,709,647  
     Morgan Stanley Capital I Trust:        
 16,375,928   Series 2016-UB11, Class XA, 1.498% due 8/15/49(e)(h)    930,791  
 13,903,349   Series 2016-UB12, Class XA, 0.739% due 12/15/49(e)(h)    394,462  
 1,083,000   Series 2018-SUN, Class A, 1.001% (1-Month USD-LIBOR + 0.900%) due 7/15/35(a)(e)    1,083,626  
 1,356,000   Series 2019-H7, Class AS, 3.524% due 7/15/52    1,472,206  
 583,000   Series 2019-H7, Class B, 3.725% due 7/15/52    636,205  
 22,093,667   Series 2019-L3, Class XA, 0.642% due 11/15/52(e)(h)    1,054,820  
 7,792,289   Series 2020-HR8, Class XA, 1.845% due 7/15/53(e)(h)    1,078,175  
 806,000   Series 2020-L4, Class B, 3.082% due 2/15/53    836,789  
 2,703,758   Morgan Stanley Residential Mortgage Loan Trust, Series 2020-RPL1, Class A1, 2.693% due 10/25/60(a)(e)    2,703,340  
 1,321,000   MRCD Mortgage Trust, Series 2019-PARK, Class G, 2.718% due 12/15/36(a)    1,269,037  
     New Residential Mortgage Loan Trust:        
 1,296,052   Series 2020-RPL2, Class A1, 3.578% due 8/25/25(a)(e)    1,321,372  
 915,403   Series 2021-NQ1R, Class A1, 0.943% due 7/25/55(a)(e)    917,629  
 710,000   Series 2021-NQ2R, Class A1, 0.941% due 9/25/58(a)(e)(g)    713,017  
 1,440,000   NMLT Trust, Series 2021-INV1, Class A1, 1.185% due 5/25/56(a)(f)(g)    1,439,997  
 1,538,502   OBX Trust, Series 2021-NQM1, Class A1, 1.072% due 2/25/66(a)(e)    1,537,500  
     PMT Credit Risk Transfer Trust:        
 1,678,706   Series 2019-2R, Class A, 2.840% (1-Month USD-LIBOR + 2.750%) due 5/27/23(a)(e)    1,659,991  
 1,041,803   Series 2019-3R, Class A, 2.790% (1-Month USD-LIBOR + 2.700%) due 10/27/22(a)(e)    1,044,414  
     PRPM LLC:        
 9,105,016   Series 2020-3, Class A1, step bond to yield, 2.857% due 9/25/25(a)    9,161,085  
 2,843,369   Series 2021-2, Class A1, 2.115% due 3/25/26(a)(e)    2,851,706  
 745,000   Series 2021-3, Class A1, step bond to yield, 1.867% due 4/25/26(a)(g)    749,853  

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Core Fixed Income Fund (continued) 

Face
Amount/Units
  Security    Value  
COLLATERALIZED MORTGAGE OBLIGATIONS - 23.2% (continued)        
$ 961,437   Series 2021-4, Class A1, step bond to yield, 1.867% due 4/25/26(a)  $ 962,041  
  1,624,952   Rali Trust, Series 2005-QS13, Class 1A3, 5.500% due 9/25/35    1,572,414  
  4,497,841   Residential Asset Securitization Trust, Series 2005-A8CB, Class A6, 5.000% due 7/25/35    3,693,732  
      Residential Mortgage Loan Trust:        
  3,100,000   Series 2020-1, Class M1, 3.242% due 2/25/24(a)(e)    3,154,605  
  771,487   Series 2021-1R, Class A1, 0.859% due 1/25/65(a)(e)    770,843  
      Seasoned Credit Risk Transfer Trust:        
  5,898,779   Series 2019-4, Class MV, 3.000% due 2/25/59    6,302,518  
  878,152   Series 2020-1, Class MT, 2.500% due 8/25/59    912,309  
  8,660,212   Series 2020-2, Class MT, 2.000% due 11/25/59    8,770,719  
  9,074,360   Series 2020-3, Class M5TW, 3.000% due 5/25/60    9,650,779  
  7,197,407   Seasoned Loans Structured Transaction Trust, Series 2020-2, Class A1D, 1.750% due 9/25/30    7,347,630  
  3,640,000   SFAVE Commercial Mortgage Securities Trust, Series 2015-5AVE, Class B, 4.388% due 1/5/43(a)(e)    3,625,087  
  165,000   SG Commercial Mortgage Securities Trust, Series 2016-C5, Class B, 3.933% due 10/10/48    174,213  
  1,473,925   STAR Trust, Series 2021-1, Class A1, 1.219% due 5/25/65(a)(e)    1,479,576  
  580,000   Starwood Mortgage Residential Trust, Series 2021-2, Class A1, 0.943% due 5/25/65(a)(e)    580,413  
  840,000   Toorak Mortgage Corp. Ltd., Series 2021-1, Class A1, step bond to yield, 2.240% due 6/25/24(a)    839,916  
  1,666,140   Towd Point Mortgage Trust, Series 2021-R1, Class A1, 2.924% due 11/30/60(a)(e)    1,700,403  
      UBS Commercial Mortgage Trust:        
  5,162,979   Series 2017-C1, Class XA, 1.522% due 6/15/50(e)(h)    357,721  
  1,815,000   Series 2017-C7, Class A3, 3.418% due 12/15/50    1,986,959  
  4,045,943   UBS-Barclays Commercial Mortgage Trust, Series 2013-C5, Class XA, 0.910% due 3/10/46(a)(e)(h)    44,102  
  955,000   VCAT Asset Securitization LLC, Series 2021-NPL3, Class A1, step bond to yield, 1.743% due 5/25/51(a)    955,305  
  325,682   VCAT LLC, Series 2021-NPL2, Class A1, step bond to yield, 2.115% due 3/27/51(a)(g)    325,868  
      Verus Securitization Trust:        
  6,400,000   Series 2019-INV2, Class M1, 3.499% due 7/25/59(a)(e)    6,520,047  
  630,225   Series 2021-2, Class A1, 1.031% due 2/25/66(a)(e)    630,735  
  844,617   Series 2021-R1, Class A1, 0.820% due 10/25/63(a)(e)    841,268  
  872,163   Series 2021-R2, Class A1, 0.918% due 2/25/64(a)(e)    874,694  
  653,103   VOLT C LLC, Series 2021-NPL9, Class A1, step bond to yield, 1.992% due 5/25/51(a)    653,624  
  1,198,468   VOLT XCIII LLC, Series 2021-NPL2, Class A1, step bond to yield, 1.893% due 2/27/51(a)(g)    1,193,434  
  1,880,139   VOLT XCIV LLC, Series 2021-NPL3, Class A1, step bond to yield, 2.240% due 2/27/51(a)(g)    1,883,416  
  3,767,327   VOLT XCIX LLC, Series 2021-NPL8, Class A1, step bond to yield, 2.116% due 4/25/51(a)    3,770,870  
  2,640,128   VOLT XCVII LLC, Series 2021-NPL6, Class A1, step bond to yield, 2.240% due 4/25/51(a)(g)    2,642,194  
  435,610   VOLT XCVIII LLC, Series 2021-NPL7, Class A1, step bond to yield, 2.116% due 4/25/51(a)(g)    436,013  
      Wells Fargo Commercial Mortgage Trust:        
  1,400,000   Series 2016-BNK1, Class A3, 2.652% due 8/15/49    1,487,124  
  9,971,786   Series 2017-C38, Class XA, 1.020% due 7/15/50(e)(h)    477,243  
  800,000   Series 2018-C45, Class ASB, 4.147% due 6/15/51    898,646  
  806,000   Series 2020-C55, Class AS, 2.937% due 2/15/53    838,812  
  9,322,502   Series 2020-C58, Class XA, 1.886% due 7/15/53(e)(h)    1,290,038  

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Core Fixed Income Fund (continued) 

Face
Amount/Units
  Security     Value  
COLLATERALIZED MORTGAGE OBLIGATIONS - 23.2% (continued)  
$ 4,454,207     Series 2021-SAVE, Class D, 2.601% (1-Month USD-LIBOR + 2.500%) due 2/15/40(a)(e)   $ 4,493,298  
        TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS
(Cost - $516,042,350)
    507,465,885  
U.S. GOVERNMENT OBLIGATIONS - 22.2%  
        U.S. Treasury Bonds:        
  2,150,000     1.875% due 2/15/41     2,036,117  
  4,145,000     2.250% due 5/15/41     4,176,735  
  7,785,000     3.625% due 2/15/44     9,737,940  
  12,905,000     3.375% due 5/15/44     15,552,541  
  1,390,000     2.250% due 8/15/46     1,379,412  
  8,500,000     3.000% due 2/15/48     9,722,207  
  7,800,000     3.125% due 5/15/48     9,132,094  
  3,000,000     2.000% due 2/15/50     2,809,102  
  17,800,000     1.875% due 2/15/51     16,184,094  
  38,685,000     2.375% due 5/15/51     39,434,522  
  1,689,827     U.S. Treasury Inflation Indexed Bonds, 0.875% due 2/15/47     2,098,554  
  4,726,433     U.S. Treasury Inflation Indexed Notes, 0.125% due 7/15/30     5,218,342  
        U.S. Treasury Notes:        
  50,200,000     0.125% due 11/30/22     50,213,727  
  24,115,000     0.125% due 4/30/23     24,107,464  
  16,700,000     0.250% due 11/15/23     16,720,223  
  68,970,000     0.125% due 12/15/23 (j)     68,805,658  
  17,500,000     0.375% due 4/15/24     17,543,750  
  25,980,000     0.250% due 5/15/24     25,939,406  
  6,300,000     2.125% due 7/31/24     6,650,437  
  11,000,000     0.250% due 6/30/25     10,850,039  
  38,120,000     0.250% due 8/31/25     37,499,061  
  12,400,000     2.250% due 11/15/25     13,256,375  
  8,240,000     0.375% due 11/30/25     8,122,194  
  16,760,000     0.750% due 4/30/26     16,728,575  
  3,150,000     1.625% due 5/15/26     3,275,385  
  9,500,000     0.500% due 6/30/27     9,176,406  
  3,326,000     2.750% due 2/15/28     3,658,860  
  8,635,000     2.875% due 5/15/28     9,569,334  
  13,000,000     2.375% due 5/15/29     13,945,547  
  5,400,000     0.625% due 5/15/30     4,987,195  
  28,610,000     1.625% due 5/15/31     28,663,644  
        TOTAL U.S. GOVERNMENT OBLIGATIONS
(Cost - $491,270,838)
    487,194,940  

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Core Fixed Income Fund (continued) 

Face
Amount/Units
    Security     Value  
MORTGAGE-BACKED SECURITIES - 19.7%  
FHLMC - 2.8%  
        Federal Home Loan Mortgage Corp. (FHLMC)., Gold:        
$ 6,920,311     2.000% due 3/1/51   $ 6,996,311  
  6,600,000     2.500% due 5/1/51     6,841,036  
  3,944,105     3.000% due 2/1/33  - 1/1/51     4,168,129  
  1,969,905     3.500% due 8/1/43  - 10/1/49     2,111,992  
  2,809,316     4.000% due 10/1/44  - 12/1/47     3,038,352  
  751,355     4.500% due 5/1/48     811,517  
        Federal Home Loan Mortgage Corp. (FHLMC)., Gold:        
  7,660,248     3.000% due 3/1/35  - 2/1/47     8,155,215  
  17,314,337     3.500% due 12/1/46  - 1/1/48     18,645,686  
  96,888     4.000% due 12/1/47     104,068  
        Federal Home Loan Mortgage Corp. (FHLMC)., Gold UMBS:        
  6,433,584     3.000% due 4/1/50     6,806,008  
  3,905,540     3.030% due 1/1/50     4,160,716  
        TOTAL FHLMC     61,839,030  
FNMA - 14.4%  
        Federal National Mortgage Association (FNMA), UMBS:        
  1,229,000     1.500% due 6/1/36 - 6/1/51(k)     1,219,632  
  46,430,000     2.000% due 6/1/36 - 6/1/51(k)     46,946,095  
  44,070,000     2.000% due 7/1/50 (k)     44,411,724  
  15,696,472     2.000% due 8/1/50 - 5/1/51     15,886,765  
  7,229,767     2.000% due 10/1/50     7,255,445  
  3,700,000     2.310% due 12/1/29     3,910,274  
  1,700,000     2.490% due 9/1/28     1,826,267  
  61,129,740     2.500% due 6/1/30 - 6/1/51     63,461,728  
  3,157,000     2.500% due 6/1/36 - 6/1/51(k)     3,287,810  
  3,367,251     2.652% due 5/1/44 (e)     3,565,056  
  4,443,000     2.760% due 9/1/31     4,807,040  
  10,900,000     2.960% due 9/1/34     11,774,368  
  25,885,042     3.000% due 2/1/30 - 1/1/51     27,441,643  
  5,592,207     3.000% due 4/1/53     6,020,108  
  35,445,000     3.000% due 6/1/51 - 7/1/51(k)     36,998,482  
  7,255,238     3.500% due 7/1/32 - 7/1/50     7,743,478  
  5,131,000     3.500% due 6/1/51 (k)     5,415,508  
  8,500,000     3.710% due 8/1/30     9,762,581  
  2,231,004     4.000% due 11/1/38 - 2/1/48     2,411,329  
  4,035,000     4.000% due 6/1/51 (k)     4,310,108  
  527,910     4.500% due 5/1/48     574,681  
  7,119,000     4.500% due 6/1/51 (k)     7,681,147  
        TOTAL FNMA     316,711,269  

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Core Fixed Income Fund (continued) 

Face
Amount/Units
    Security     Value  
MORTGAGE-BACKED SECURITIES - 19.7% (continued)  
GNMA - 2.5%  
        Government National Mortgage Association (GNMA):        
$ 1,525,000     2.000% due 6/1/51 (k)   $ 1,550,586  
  24,875,000     2.500% due 6/1/51 (k)     25,759,161  
  5,420,000     3.000% due 6/1/51 - 7/1/51(k)     5,653,860  
  6,010,000     3.500% due 6/1/51 (k)     6,312,500  
  525,000     4.000% due 6/1/51 (k)     556,887  
  2,385,000     4.500% due 6/1/51 (k)     2,553,022  
        Government National Mortgage Association (GNMA) II:        
  1,600,000     2.500% due 5/20/51     1,658,958  
  722,057     3.000% due 4/20/31 - 12/20/50     761,361  
  3,321,278     3.500% due 8/20/42 - 9/20/50     3,528,051  
  4,905,825     4.000% due 10/20/44 - 3/20/49     5,295,013  
  1,171,177     4.500% due 7/20/49  - 8/20/49     1,254,007  
        TOTAL GNMA     54,883,406  
        TOTAL MORTGAGE-BACKED SECURITIES
(Cost - $431,056,534)
    433,433,705  
ASSET-BACKED SECURITIES - 8.6%  
  1,753,679     Aaset Trust, Series 2019-2, Class A, 3.376% due 10/16/39(a)     1,756,495  
  1,773,174     AASET U.S. Ltd., Series 2018-1A, Class A, 3.844% due 1/16/38(a)     1,698,907  
  500,000     AGL Core CLO 5 Ltd., Series 2020-5A, Class B, 2.968% (3-Month USD-LIBOR + 2.780%) due 7/20/30(a)(e)     500,842  
  1,600,000     AIG CLO, Series 2021-1A, Class A, 1.284% (3-Month USD-LIBOR + 1.100%) due 4/22/34(a)(e)     1,600,794  
  500,000     Allegro CLO X Ltd., Series 2019-1A, Class AR, 1.338% (3-Month USD-LIBOR + 1.150%) due 7/20/32(a)(e)     500,035  
  500,000     ALM 2020 Ltd., Series 2020-1A, Class A2, 2.034% (3-Month USD-LIBOR + 1.850%) due 10/15/29(a)(e)     498,260  
  4,000,000     AMSR Trust, Series 2020-SFR4, Class E2, 2.456% due 11/17/37(a)     3,987,933  
  1,000,000     Anchorage Capital CLO 4-R Ltd., Series 2014-4RA, Class B, 1.684% (3-Month USD-LIBOR + 1.500%) due 1/28/31(a)(e)     997,152  
  500,000     Apidos CLO XII, Series 2013-12A, Class CR, 1.984% (3-Month USD-LIBOR + 1.800%) due 4/15/31(a)(e)     495,593  
  260,000     Arbor Realty Collateralized Loan Obligation Ltd., Series 2021-FL2, Class A, 1.200% (1-Month USD-LIBOR + 1.100%) due 5/15/36(a)(e)(g)     260,003  
  1,679,979     Asset Backed Securities Corp. Home Equity Loan Trust, Series 2007-HE2, Class A4, 0.322% (1-Month USD-LIBOR + 0.230%) due 5/25/37(e)     1,364,391  
  500,000     Assurant CLO Ltd., Series 2019-5A, Class A1, 1.574% (3-Month USD-LIBOR + 1.390%) due 1/15/33(a)(e)     500,614  
  570,000     Avant Loans Funding Trust, Series 2021-REV1, Class A, 1.210% due 7/15/30(a)     569,905  
        Avis Budget Rental Car Funding AESOP LLC:        
  5,915,000     Series 2017-1A, Class A, 3.070% due 9/20/23(a)     6,093,759  
  410,000     Series 2017-2A, Class A, 2.970% due 3/20/24(a)     426,986  
  1,440,000     Bain Capital Credit CLO, Series 2019-1A, Class AR, 0.000% (3-Month USD-LIBOR + 1.130%) due 4/19/34(a)(e)     1,439,636  
  1,000,000     Bain Capital Credit CLO Ltd., Series 2019-3A, Class B2, 2.056% (3-Month USD-LIBOR + 1.870%) due 10/21/32(a)(e)     1,000,968  
  1,000,000     Battalion CLO XI Ltd., Series 2017-11A, Class AR, 1.326% (3-Month USD-LIBOR + 1.150%) due 4/24/34(a)(e)     999,747  
  1,085,000     BlueMountain CLO XXIV Ltd., Series 2019-24A, Class AR, 0.000% (3-Month USD-LIBOR + 1.100%) due 4/20/34(a)(e)     1,085,099  
  2,055,000     BlueMountain CLO XXXI Ltd., Series 2021-31A, Class A1, 0.000% (3-Month USD-LIBOR + 1.150%) due 4/19/34(a)(e)(g)     2,055,208  

 

 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)
 
Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
ASSET-BACKED SECURITIES - 8.6% (continued)     
$775,000   BSPRT Issuer Ltd., Series 2021-FL6, Class A, 1.201% (1-Month USD-LIBOR + 1.100%) due 3/15/36(a)(e)  $775,000 
 7,600,000   Capital One Multi-Asset Execution Trust, Series 2019-A3, Class A3, 2.060% due 8/15/28   7,981,279 
     Carlyle Global Market Strategies CLO Ltd.:     
 1,973,747   Series 2014-3RA, Class A1A, 1.231% (3-Month USD-LIBOR + 1.050%) due 7/27/31(a)(e)   1,974,764 
 1,000,000   Series 2016-1A, Class A1R2, 1.300% (3-Month USD-LIBOR + 1.140%) due 4/20/34(a)(e)   1,000,757 
     Carlyle U.S. CLO Ltd.:     
 765,000   Series 2021-2A, Class A1, 1.283% (3-Month USD-LIBOR + 1.080%) due 4/20/34(a)(e)   765,567 
 1,537,000   Series 2021-3SA, Class A1, 1.263% (3-Month USD-LIBOR + 1.060%) due 4/15/34(a)(e)   1,538,100 
 1,700,000   Carmax Auto Owner Trust, Series 2021-1, Class C, 0.940% due 12/15/26   1,688,866 
 2,210,398   Carrington Mortgage Loan Trust, Series 2006-NC4, Class A3, 0.252% (1-Month USD-LIBOR + 0.160%) due 10/25/36(e)   2,137,897 
 1,416,790   Castlelake Aircraft Securitization Trust, Series 2018-1, Class A, 4.125% due 6/15/43(a)   1,415,256 
 500,000   CBAM Ltd., Series 2019-10A, Class A1R, 1.308% (3-Month USD-LIBOR + 1.120%) due 4/20/32(a)(e)   499,873 
 2,660,000   Cedar Funding IV CLO Ltd., Series 2014-4A, Class ARR, 0.000% (3-Month USD-LIBOR + 1.160%) due 7/23/34(a)(e)(g)   2,660,000 
 115,000   CF Hippolyta LLC, Series 2021-1A, Class B1, 1.980% due 3/15/61(a)   115,938 
 1,000,000   CIFC Funding Ltd., Series 2020-1A, Class B, 2.484% (3-Month USD-LIBOR + 2.300%) due 7/15/32(a)(e)   1,000,603 
 4,973,341   CLI Funding VI LLC, Series 2019-1A, Class A, 3.710% due 5/18/44(a)   5,021,721 
 6,402,282   CLI Funding VIII LLC, Series 2021-1A, Class A, 1.640% due 2/18/46(a)   6,333,174 
 465,000   Credit Acceptance Auto Loan Trust, Series 2021-3A, Class A, 1.000% due 5/15/30(a)   464,882 
 5,099,043   Credit-Based Asset Servicing & Securitization LLC, Series 2006-CB4, Class AV4, 0.572% (1-Month USD-LIBOR + 0.480%) due 5/25/36(e)   4,187,035 
 685,000   Domino's Pizza Master Issuer LLC, Series 2021-1A, Class A2I, 2.662% due 4/25/51(a)   697,029 
 2,000,000   Dryden 53 CLO Ltd., Series 2017-53A, Class A, 1.304% (3-Month USD-LIBOR + 1.120%) due 1/15/31(a)(e)   1,999,957 
 500,000   Dryden 75 CLO Ltd., Series 2019-75A, Class AR2, 1.242% (3-Month USD-LIBOR + 1.040%) due 4/15/34(a)(e)   500,388 
     Exeter Automobile Receivables Trust:     
 600,000   Series 2021-1A, Class D, 1.080% due 11/16/26   598,065 
 900,000   Series 2021-1A, Class E, 2.210% due 2/15/28(a)   888,354 
 6,543,558   First Franklin Mortgage Loan Trust, Series 2007-FF2, Class A1, 0.232% (1-Month USD-LIBOR + 0.140%) due 3/25/37(e)   4,348,206 
 2,685,000   Ford Credit Auto Lease Trust, Series 2021-A, Class C, 0.780% due 9/15/25   2,690,204 
     Ford Credit Auto Owner Trust:     
 6,750,000   Series 2020-1, Class C, 2.540% due 8/15/31(a)   7,070,637 
 3,650,000   Series 2020-2, Class C, 1.740% due 4/15/33(a)   3,682,469 
 500,000   Fort Washington CLO, Series 2019-1A, Class A, 1.608% (3-Month USD-LIBOR + 1.420%) due 10/20/32(a)(e)   500,521 
 560,000   FS RIALTO, Series 2021-FL2, Class A, 1.401% (1-Month USD-LIBOR + 1.300%) due 4/16/28(a)(e)   560,175 
     GM Financial Automobile Leasing Trust:     
 500,000   Series 2020-1, Class D, 2.280% due 6/20/24   510,111 
 1,000,000   Series 2020-2, Class D, 3.210% due 12/20/24   1,044,178 
 2,750,000   GM Financial Consumer Automobile Receivables Trust, Series 2021-1, Class C, 1.040% due 5/17/27   2,750,672 
 785,000   Greystone CRE Notes Ltd., Series 2019-FL2, Class C, 2.101% (1-Month USD-LIBOR + 2.000%) due 9/15/37(a)(e)   781,075 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)
 
Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
ASSET-BACKED SECURITIES - 8.6% (continued)     
$1,000,000   Gulf Stream Meridian 1 Ltd., Series 2020-IA, Class A1, 1.554% (3-Month USD-LIBOR + 1.370%) due 4/15/33(a)(e)  $1,001,239 
     Halsey Point CLO I Ltd.:     
 1,000,000   Series 2019-1A, Class A1A1, 1.538% (3-Month USD-LIBOR + 1.350%) due 1/20/33(a)(e)   1,001,278 
 1,000,000   Series 2019-1A, Class B1, 2.388% (3-Month USD-LIBOR + 2.200%) due 1/20/33(a)(e)   1,001,588 
 4,767,406   Horizon Aircraft Finance III Ltd., Series 2019-2, Class A, 3.425% due 11/15/39(a)   4,713,576 
     Invitation Homes Trust:     
 2,240,000   Series 2018-SFR1, Class C, 1.351% (1-Month USD-LIBOR + 1.250%) due 3/17/37(a)(e)   2,244,545 
 1,424,482   Series 2018-SFR1, Class D, 1.551% (1-Month USD-LIBOR + 1.450%) due 3/17/37(a)(e)   1,428,100 
 965,000   Jimmy Johns Funding LLC, Series 2017-1A, Class A2II, 4.846% due 7/30/47(a)   1,034,017 
 4,019,200   JP Morgan Mortgage Acquisition Corp., Series 2005-WMC1, Class M4, 0.992% (1-Month USD-LIBOR + 0.900%) due 9/25/35(e)   3,785,860 
 1,000,000   LCM XV LP, Series 15A, Class DR, 3.888% (3-Month USD-LIBOR + 3.700%) due 7/20/30(a)(e)   988,792 
 500,000   Madison Park Funding XXXIV Ltd., Series 2019-34A, Class AR, 1.296% (3-Month USD-LIBOR + 1.120%) due 4/25/32(a)(e)   500,090 
 1,675,000   Madison Park Funding XXXVIII Ltd., Series 2021-38A, Class A, 0.000% (3-Month USD-LIBOR + 1.120%) due 7/17/34(a)(e)(g)   1,675,178 
 1,000,000   Marble Point CLO XIV Ltd., Series 2018-2A, Class A1R, 1.468% (3-Month USD-LIBOR + 1.280%) due 1/20/32(a)(e)   1,001,396 
 2,000,000   Marlette Funding Trust, Series 2019-4A, Class C, 3.760% due 12/17/29(a)   2,073,971 
 490,000   Mercury Financial Credit Card Master Trust, Series 2021-1A, Class A, 1.540% due 3/20/26(a)   491,795 
 10,049,741   Merrill Lynch Mortgage Investors Trust, Series 2006-HE6, Class A1, 0.372% (1-Month USD-LIBOR + 0.280%) due 11/25/37(e)   6,813,467 
 1,000,000   MKS CLO Ltd., Series 2017-1A, Class AR, 1.188% (3-Month USD-LIBOR + 1.000%) due 7/20/30(a)(e)   998,660 
 1,000,000   MP CLO III Ltd., Series 2013-1A, Class AR, 1.438% (3-Month USD-LIBOR + 1.250%) due 10/20/30(a)(e)   1,000,026 
 1,000,000   MP CLO IV Ltd., Series 2013-2A, Class ARR, 1.456% (3-Month USD-LIBOR + 1.280%) due 7/25/29(a)(e)   1,000,432 
 4,000,000   New Century Home Equity Loan Trust, Series 2005-B, Class M2, 0.827% (1-Month USD-LIBOR + 0.735%) due 10/25/35(e)   3,733,026 
 988,761   Northwoods Capital XVI Ltd., Series 2017-16A, Class A, 1.426% (3-Month USD-LIBOR + 1.270%) due 11/15/30(a)(e)   989,047 
 1,100,000   Pagaya AI Debt Selection Trust, Series 2021-1, Class B, 2.130% due 11/15/27(a)   1,103,685 
 1,800,000   PMT Issuer Trust - FMSR, Series 2021-FT1, Class A, 3.092% (1-Month USD-LIBOR + 3.000%) due 3/25/26(a)(e)   1,809,849 
 1,814,388   Pretium Mortgage Credit Partners I LLC, Series 2020-NPL3, Class A1, step bond to yield, 3.105% due 6/27/60(a)   1,833,140 
 2,100,000   Progress Residential, Series 2021-SFR1, Class D, 1.805% due 4/17/38(a)   2,062,523 
 2,000,000   Race Point IX CLO Ltd., Series 2015-9A, Class A1A2, 1.124% (3-Month USD-LIBOR + 0.940%) due 10/15/30(a)(e)   2,000,102 
 1,510,000   Regatta VI Funding Ltd., Series 2016-1A, Class AR2, 1.295% (3-Month USD-LIBOR + 1.160%) due 4/20/34(a)(e)(g)   1,510,154 
 1,000,000   Regatta XI Funding Ltd., Series 2018-1A, Class B, 1.840% (3-Month USD-LIBOR + 1.650%) due 7/17/31(a)(e)   1,000,489 
 1,720,000   RR 1 LLC, Series 2017-1A, Class A1AB, 0.000% (3-Month USD-LIBOR + 1.150%) due 7/15/35(a)(e)(g)   1,720,000 
 1,475,000   RR 16 Ltd., Series 2021-16A, Class A1, 0.000% (3-Month USD-LIBOR + 1.110%) due 7/15/36(a)(e)(g)   1,475,150 
 1,125,000   SoFi Consumer Loan Program Trust, Series 2019-1, Class B, 3.450% due 2/25/28(a)   1,133,436 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)
 
Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
ASSET-BACKED SECURITIES - 8.6% (continued)     
$1,000,000   Sofi Professional Loan Program Trust, Series 2018-B, Class BFX, 3.830% due 8/25/47(a)  $1,046,546 
 1,710,000   Sound Point CLO XXIX Ltd., Series 2021-1A, Class A, 1.210% (3-Month USD-LIBOR + 1.070%) due 4/25/34(a)(e)(g)   1,709,572 
 3,500,000   STAR Trust, Series 2021-SFR1, Class G, 3.301% (1-Month USD-LIBOR + 3.200%) due 4/17/38(a)(e)   3,494,817 
 5,892,799   Structured Asset Investment Loan Trust, Series 2005-5, Class M5, 1.067% (1-Month USD-LIBOR + 0.975%) due 6/25/35(e)   5,941,834 
 966,336   Sunnova Helios II Issuer LLC, Series 2021-A, Class A, 1.800% due 2/20/48(a)   960,981 
 1,955,000   Symphony CLO XXV Ltd., Series 2021-25A, Class A, 1.165% (3-Month USD-LIBOR + 0.980%) due 4/19/34(a)(e)   1,955,733 
 1,720,000   Thompson Park CLO Ltd., Series 2021-1A, Class A1, 1.199% (3-Month USD-LIBOR + 1.000%) due 4/15/34(a)(e)   1,720,316 
 6,288,246   TIF Funding II LLC, Series 2021-1A, Class A, 1.650% due 2/20/46(a)   6,180,324 
 550,000   TRTX Issuer Ltd., Series 2021-FL4, Class A, 1.301% (1-Month USD-LIBOR + 1.200%) due 3/15/38(a)(e)   549,656 
 557,150   Upgrade Receivables Trust, Series 2019-1A, Class C, 5.150% due 3/15/25(a)   558,754 
     Upstart Pass-Through Trust:     
 1,463,276   Series 2021-ST3, Class A, 2.000% due 5/20/27(a)(g)   1,470,591 
 1,500,000   Series 2021-ST4, Class A, 2.000% due 7/20/27(a)(g)   1,500,712 
 800,000   Upstart Securitization Trust, Series 2019-3, Class C, 5.381% due 1/21/30(a)   834,390 
 1,300,000   US Auto Funding LLC, Series 2019-1A, Class D, 8.060% due 11/15/25(a)   1,360,490 
 1,710,000   Venture 42 CLO Ltd., Series 2021-42A, Class A1A, 1.311% (3-Month USD-LIBOR + 1.130%) due 4/15/34(a)(e)   1,710,310 
 660,000   Venture 43 CLO Ltd., Series 2021-43A, Class A1, 0.000% (3-Month USD-LIBOR + 1.240%) due 4/15/34(a)(e)(g)   660,067 
 993,913   Venture XV CLO Ltd., Series 2013-15A, Class A1R2, 1.554% (3-Month USD-LIBOR + 1.370%) due 7/15/32(a)(e)   994,149 
 916,517   VOLT XCV LLC, Series 2021-NPL4, Class A1, step bond to yield, 2.240% due 3/27/51(a)   916,455 
 1,335,000   Wellfleet CLO X Ltd., Series 2019-XA, Class A1R, 1.344% (3-Month USD-LIBOR + 1.170%) due 7/20/32(a)(e)   1,335,403 
 995,902   Wind River CLO Ltd., Series 2014-1A, Class ARR, 1.240% (3-Month USD-LIBOR + 1.050%) due 7/18/31(a)(e)   995,419 
 1,000,000   Wingstop Funding LLC, Series 2020-1A, Class A2, 2.841% due 12/5/50(a)   1,031,250 
 4,000,000   York CLO-6 Ltd., Series 2019-1A, Class A1, 1.534% (3-Month USD-LIBOR + 1.350%) due 7/22/32(a)(e)   4,004,706 
     TOTAL ASSET-BACKED SECURITIES     
     (Cost - $190,439,300)   190,072,166 
SOVEREIGN BONDS - 1.1%     
Brazil - 0.0%       
     Brazilian Government International Bond:     
 200,000   5.000% due 1/27/45   200,576 
 400,000   5.625% due 2/21/47   429,504 
     Total Brazil   630,080 
Chile - 0.1%       
     Chile Government International Bond:     
 550,000   3.100% due 5/7/41   534,963 
 200,000   3.500% due 1/25/50   201,446 
 205,000   3.500% due 4/15/53   206,757 
 1,250,000   3.100% due 1/22/61   1,139,875 
     Total Chile   2,083,041 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)
 
Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
SOVEREIGN BONDS - 1.1% (continued) 
Colombia - 0.1% 
     Colombia Government International Bond:     
 300,000   5.000% due 6/15/45   309,612 
 600,000   4.125% due 5/15/51   547,416 
     Total Colombia   857,028 
Dominican Republic - 0.0%     
 250,000   Dominican Republic International Bond, 5.300% due 1/21/41(a)   250,750 
Indonesia - 0.1%     
     Indonesia Government International Bond:     
 500,000   3.375% due 4/15/23   525,890 
 200,000   4.350% due 1/11/48   220,930 
 700,000   3.700% due 10/30/49   715,814 
 200,000   Perusahaan Penerbit SBSN Indonesia III, 3.800% due 6/23/50   203,500 
     Total Indonesia   1,666,134 
Mexico - 0.3%       
     Mexico Government International Bond:     
 1,395,000   2.659% due 5/24/31   1,354,308 
 1,155,000   4.750% due 4/27/32   1,316,122 
 750,000   4.280% due 8/14/41   778,290 
 600,000   4.600% due 2/10/48   633,756 
 1,190,000   3.771% due 5/24/61   1,088,862 
 275,000   3.750% due 4/19/71   246,645 
     Total Mexico   5,417,983 
Panama - 0.1%       
     Panama Government International Bond:     
 880,000   2.252% due 9/29/32   843,709 
 200,000   4.300% due 4/29/53   215,002 
 1,625,000   3.870% due 7/23/60   1,627,827 
     Total Panama   2,686,538 
Peru - 0.2%       
     Peruvian Government International Bond:     
 195,000   2.392% due 1/23/26   200,829 
 1,395,000   2.783% due 1/23/31   1,398,501 
 750,000   3.300% due 3/11/41   725,633 
 985,000   3.550% due 3/10/51   961,616 
 100,000   2.780% due 12/1/60   82,876 
     Total Peru   3,369,455 
Philippines - 0.1%       
     Philippine Government International Bond:     
 600,000   1.648% due 6/10/31   577,248 
 750,000   3.700% due 3/1/41   795,338 
 200,000   3.700% due 2/2/42   212,582 
     Total Philippines   1,585,168 
Qatar - 0.0%       
 400,000   Qatar Government International Bond, 3.400% due 4/16/25(a)   436,000 
Saudi Arabia - 0.1%       
     Saudi Government International Bond:     
 800,000   2.900% due 10/22/25(a)   853,234 
 1,129,000   2.250% due 2/2/33(a)   1,080,051 
 200,000   3.750% due 1/21/55   203,790 
 750,000   3.450% due 2/2/61   721,425 
     Total Saudi Arabia   2,858,500 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)
 
Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
SOVEREIGN BONDS - 1.1% (continued) 
South Korea - 0.0%       
$300,000   Korea Development Bank, 1.000% due 9/9/26  $298,651 
 400,000   Korea Electric Power Corp., 1.125% due 6/15/25(a)   399,179 
     Total South Korea   697,830 
Thailand - 0.0%       
 500,000   Export Import Bank of Thailand, 1.000% due 5/23/24(e)   503,005 
United Arab Emirates - 0.0%       
 700,000   Abu Dhabi Government International Bond, 3.125% due 9/30/49   691,250 
     TOTAL SOVEREIGN BONDS     
     (Cost - $23,963,875)   23,732,762 
SENIOR LOANS - 1.1%(e)     
 80,000   AAdvantage Loyality IP Ltd., 5.500% (3-Month USD-LIBOR + 0.475%) due 4/20/28   82,400 
 152,968   Acrisure LLC, 3.703% (3-Month USD-LIBOR + 0.350%) due 2/15/27   151,407 
 40,625   Acuris Finance US Inc., 4.500% (3-Month USD-LIBOR + 0.400%) due 2/16/28   40,777 
 25,000   Aegion Corp., 5.500% (3-Month USD-LIBOR + 0.475%) due 5/17/28   25,094 
 125,380   Air Methods Corp., 4.500% (3-Month USD-LIBOR + 0.350%) due 4/22/24   123,704 
 163,450   Aldevron LLC, 4.250% (1-Month USD-LIBOR + 0.325%) due 10/12/26   163,808 
 110,000   AlixPartners LLP, 3.250% (1-Month USD-LIBOR + 0.275%) due 2/4/28   109,541 
 49,339   Alliance Laundry Systems LLC, 4.250% (3-Month USD-LIBOR + 0.350%) due 10/8/27   49,436 
     Alliant Holdings Intermediate LLC:     
 108,075   3.343%  (1-Month USD-LIBOR + 0.325%) due 5/9/25   107,081 
 25,000   due 11/5/27(l)   25,019 
 50,000   Allied Universal Holdco LLC, 4.250% (1-Month USD-LIBOR + 3.750%) due 5/12/28   50,107 
 15,000   Alpha 3 BV, 3.000% (3-Month USD-LIBOR + 0.250%) due 3/18/28   14,930 
 205,277   Alterra Mountain Co., 2.843% (1-Month USD-LIBOR + 0.275%) due 7/31/24   201,721 
 74,687   Amentum Government Services Holdings LLC, 3.593% (1-Month USD-LIBOR + 0.350%) due 1/29/27   74,425 
     American Airlines Inc.:     
 24,740   2.093%  (1-Month USD-LIBOR + 0.200%) due 4/28/23   23,920 
 43,779   2.101%  (1-Month USD-LIBOR + 0.200%) due 12/15/23   42,307 
 54,450   1.843% (1-Month USD-LIBOR + 0.175%) due 1/29/27   50,540 
 44,888   American Residential Services LLC, 4.250% (2-Month USD-LIBOR + 0.350%) due 10/15/27   44,887 
 71,877   American Tire Distributors Inc., 8.500% (3-Month USD-LIBOR + 0.750%) due 9/2/24   71,197 
 55,000   American Trailer World Corp., 4.500% (1-Month USD-LIBOR + 0.375%) due 3/3/28   54,897 
 9,975   AmWINS Group Inc., 3.000% (1-Month USD-LIBOR + 0.225%) due 2/19/28   9,924 
 69,192   Applied Systems Inc., 3.754% (3-Month USD-LIBOR + 0.325%) due 9/19/24   69,089 
 70,000   3.343%  (1-Month USD-LIBOR + 0.325%) due 7/31/27   69,650 
 20,000   5.343%  (1-Month USD-LIBOR + 0.525%) due 1/31/28   20,208 
 145,648   athenahealth Inc., 4.410% (3-Month USD-LIBOR + 0.425%) due 2/11/26   146,048 
 75,000   Atlas Purchaser Inc., 6.000% (3-Month USD-LIBOR + 0.525%) due 5/8/28   73,469 
 35,000   Autokiniton US Holdings Inc., 5.000% (3-Month USD-LIBOR + 0.450%) due 4/6/28   35,219 
     Avantor Funding Inc.:     
 37,152   3.000%  (1-Month USD-LIBOR + 0.200%) due 11/21/24   37,121 
 84,788   3.250%  (1-Month USD-LIBOR + 0.225%) due 11/8/27   84,999 
     Avaya Inc.:     
 85,000   4.101%  (1-Month USD-LIBOR + 0.400%) due 12/15/27   85,160 
 94,286   4.351%  (1-Month USD-LIBOR + 0.425%) due 12/15/27   94,522 
 120,935   Aventiv Technologies LLC, 5.500% (3-Month USD-LIBOR + 0.450%) due 11/1/24   110,252 
 120,158   Azalea TopCo Inc., 3.685% (3-Month USD-LIBOR + 0.350%) due 7/24/26   119,407 
 37,091   Bausch Health Cos. Inc., 3.093% (1-Month USD-LIBOR + 0.300%) due 6/2/25   36,934 
 71,709   BellRing Brands LLC, 4.750% (1-Month USD-LIBOR + 0.400%) due 10/21/24   72,183 
 142,356   Blackhawk Network Holdings Inc., 3.093% (1-Month USD-LIBOR + 0.300%) due 6/15/25   140,637 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)
 
Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
SENIOR LOANS - 1.1%(e) (continued)     
$132,391   Blackstone CQP Holdco LP, 3.687% (3-Month USD-LIBOR + 0.350%) due 9/30/24  $132,204 
 99,619   Brand Energy & Infrastructure Services Inc., 5.250% (3-Month USD-LIBOR + 0.425%) due 6/21/24   97,342 
 77,517   Brazos Delaware II LLC, 4.097% (1-Month USD-LIBOR + 0.400%) due 5/21/25   75,427 
 151,769   Bright Bidco BV, 4.500% (3-Month USD-LIBOR + 0.350%) due 6/30/24   115,534 
 114,706   Brookfield WEC Holdings Inc., 3.250% (1-Month USD-LIBOR + 0.275%) due 8/1/25   113,918 
 15,000   Brown Group Holdings LLC, due 6/7/28(l)   14,974 
 114,138   BY Crown Parent LLC, 4.000% (1-Month USD-LIBOR + 0.300%) due 2/2/26   113,852 
 84,575   Cablevision Lightpath LLC, 3.750% (1-Month USD-LIBOR + 0.325%) due 11/30/27   84,660 
 99,500   Caesars Resort Collection LLC, 4.593% (1-Month USD-LIBOR + 0.450%) due 7/21/25   99,768 
 14,775   Calpine Corp., 2.093% (1-Month USD-LIBOR + 0.200%) due 8/12/26   14,580 
 87,327   Cambium Learning Group Inc., 5.250% (3-Month USD-LIBOR + 0.450%) due 12/18/25   87,637 
     Camelot U.S. Acquisition 1 Co.:     
 9,975   4.000% (1-Month USD-LIBOR + 0.300%) due 10/30/26   9,983 
 59,550   Carnival Corp., 8.500% (1-Month USD-LIBOR + 0.750%) due 6/30/25   59,748 
 173,220   Cengage Learning Inc., 5.250% (2-Month USD-LIBOR + 0.425%) due 6/7/23   173,028 
 124,688   Charter Nex US Holdings Inc., 5.000% (1-Month USD-LIBOR + 0.425%) due 12/1/27   125,116 
 202,725   CHG PPC Parent LLC, 2.843% (1-Month USD-LIBOR + 0.275%) due 3/31/25   201,711 
 64,707   Cincinnati Bell Inc., 4.250% (1-Month USD-LIBOR + 0.325%) due 10/2/24   64,626 
 38,073   Clear Channel Outdoor Holdings Inc., 3.685% (2-Month USD-LIBOR + 0.350%) due 8/21/26   36,829 
 101,332   ClubCorp Holdings Inc., 2.953% (3-Month USD-LIBOR + 0.275%) due 9/18/24   97,142 
 90,000   CNT Holdings I Corp., 4.500% (3-Month USD-LIBOR + 0.375%) due 11/8/27   90,112 
 120,000   Cologix Holdings Inc., 4.500% (1-Month USD-LIBOR + 0.375%) due 5/1/28   120,000 
 10,000   Columbus McKinnon Corp., 3.250% (3-Month USD-LIBOR + 0.275%) due 4/7/28   10,013 
 177,256   Compass Power Generation LLC, 4.500% (1-Month USD-LIBOR + 0.350%) due 12/20/24   176,295 
 45,000   Conair Holdings LLC, 4.250% (3-Month USD-LIBOR + 0.375%) due 5/17/28   45,169 
 64,350   Connect Finco SARL, 4.500% (1-Month USD-LIBOR + 0.350%) due 12/11/26   64,382 
 99,500   Conservice Midco LLC, 4.453% (3-Month USD-LIBOR + 0.425%) due 5/13/27   99,500 
     Constant Contact Inc.:     
 98,529   4.750% (3-Month USD-LIBOR + 0.400%) due 2/10/28   98,406 
 55,000   CoreLogic Inc., due 6/2/28(l)   54,725 
 84,753   Cornerstone Building Brands Inc., 3.750% (1-Month USD-LIBOR + 0.325%) due 4/12/28   84,732 
 139,541   Cornerstone OnDemand Inc., 3.343% (1-Month USD-LIBOR + 0.325%) due 4/22/27   139,516 
 210,000   CP Atlas Buyer Inc., 4.250% (3-Month USD-LIBOR + 0.375%) due 11/23/27   209,498 
 160,000   CQP Holdco LP, % due 6/4/28(l)   159,200 
     CSC Holdings LLC:     
 15,423   2.348%  (1-Month USD-LIBOR + 0.225%) due 7/17/25   15,234 
 53,763   2.348%  (1-Month USD-LIBOR + 0.225%) due 1/15/26   53,131 
 239,693   Cvent Inc., 3.843% (1-Month USD-LIBOR + 0.375%) due 11/29/24   232,637 
 38,505   Cyanco Intermediate 2 Corp., 3.593% (1-Month USD-LIBOR + 0.350%) due 3/16/25   37,908 
 101,445   Cyxtera DC Holdings Inc., 4.000% (3-Month USD-LIBOR + 0.300%) due 5/1/24   98,174 
 148,687   DCert Buyer Inc., 4.093% (1-Month USD-LIBOR + 0.400%) due 10/16/26   148,687 
 115,000   Delta Topco Inc., 4.500% (3-Month USD-LIBOR + 0.375%) due 12/1/27   115,144 
     DG Investment Intermediate Holdings 2 Inc.:     
 21,714   3.420%  (1-Month USD-LIBOR + 0.375%) due 3/31/28   21,682 
 136,429   4.500%  (1-Month USD-LIBOR + 0.375%) due 3/31/28   136,224 
 15,000   7.500%  (1-Month USD-LIBOR + 0.675%) due 3/30/29   14,950 
 68,937   Dhanani Group Inc., 3.843% (1-Month USD-LIBOR + 0.375%) due 7/20/25   68,377 
 59,223   Diamond Sports Group LLC, 3.350% (1-Month USD-LIBOR + 0.325%) due 8/24/26   42,400 
 40,000   DT Midstream Inc., due 5/25/28(l)   40,200 
     Dynasty Acquisition Co., Inc.:     
 108,436   3.703% (3-Month USD-LIBOR + 0.350%) due 4/6/26   104,961 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)
 
Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
SENIOR LOANS - 1.1%(e) (continued)     
$202,916   EAB Global Inc., 4.750% (2-Month USD-LIBOR + 0.375%) due 11/15/24  $202,747 
 75,000   Edelman Financial Center LLC, 9.190% (1-Month USD-LIBOR + 6.750%) due 7/20/26(l)   75,187 
 40,000   Edelman Financial Engines Center LLC, 4.500% (1-Month USD-LIBOR + 0.375%) due 4/7/28   40,025 
     EG Group Ltd.:     
 67,981   4.203% (3-Month USD-LIBOR + 0.400%) due 2/7/25   67,268 
 40,000   due 3/31/26(l)   39,850 
 70,000   Endo Luxembourg Finance Co. I SARL, 5.750% (1-Month USD-LIBOR + 0.500%) due 3/27/28   68,260 
 150,000   Endurance International Group Holdings Inc., 4.250% (3-Month USD-LIBOR + 0.350%) due 2/10/28   148,906 
 100,756   Envision Healthcare Corp., 3.843% (1-Month USD-LIBOR + 0.375%) due 10/10/25   85,800 
 5,000   eResearchTechnology Inc., 5.500% (1-Month USD-LIBOR + 0.450%) due 2/4/27   5,024 
 77,245   ESH Hospitality Inc., 2.093% (1-Month USD-LIBOR + 0.200%) due 9/18/26   76,902 
 68,931   Excelitas Technologies Corp., 4.500% (3-Month USD-LIBOR + 0.350%) due 12/2/24   68,759 
 89,550   Exgen Renewables IV LLC, 3.750% (3-Month USD-LIBOR + 0.275%) due 12/15/27   89,606 
 98,196   Filtration Group Corp., 3.093% (1-Month USD-LIBOR + 0.300%) due 3/31/25   97,140 
 144,236   First Advantage Holdings LLC, 3.093% (1-Month USD-LIBOR + 0.300%) due 1/31/27   143,695 
 123,537   Flex Acquisition Co., Inc., 3.452% (3-Month USD-LIBOR + 0.325%) due 6/29/25   122,095 
 194,750   Flexential Intermediate Corp., 3.703% (3-Month USD-LIBOR + 0.350%) due 8/1/24   178,642 
 108,067   Flexera Software LLC, 4.250% (3-Month USD-LIBOR + 0.325%) due 2/26/25(g)   108,152 
 150,696   Flutter Entertainment PLC, 3.703% (3-Month USD-LIBOR + 0.350%) due 7/10/25   151,168 
 46,394   Forterra Finance LLC, 4.000% (1-Month USD-LIBOR + 0.300%) due 10/25/23   46,373 
 75,000   Foundation Building Materials Inc., 3.750% (3-Month USD-LIBOR + 0.325%) due 1/31/28   74,512 
 65,184   Frontera Generation Holdings LLC, 5.250% (3-Month USD-LIBOR + 0.425%) due 5/2/25   2,879 
 120,000   Gainwell Acquisition Corp., 4.750% (3-Month USD-LIBOR + 0.400%) due 10/1/27   120,060 
 155,000   Garda World Security Corp., 4.350% (1-Month USD-LIBOR + 0.425%) due 10/30/26   155,169 
 143,111   Gemini HDPE LLC, 3.500% (3-Month USD-LIBOR + 0.300%) due 12/31/27   142,872 
 121,468   Getty Images Inc., 4.625% (1-Month USD-LIBOR + 0.450%) due 2/19/26   121,127 
 144,638   Global Medical Response Inc., 5.750% (3-Month USD-LIBOR + 0.475%) due 10/2/25   145,216 
 75,000   Gogo Intermediate Holdings LLC, 4.500% (3-Month USD-LIBOR + 0.375%) due 4/30/28   74,672 
 75,000   Grab Holdings Inc., 5.500% (3-Month USD-LIBOR + 0.450%) due 1/29/26   76,125 
 132,254   Graham Packaging Co., Inc., 3.750% (1-Month USD-LIBOR + 0.300%) due 8/4/27   132,164 
 153,798   Granite US Holdings Corp., 4.203% (3-Month USD-LIBOR + 0.400%) due 9/30/26   153,605 
 109,725   Great Outdoors Group LLC, 5.000% (3-Month USD-LIBOR + 0.425%) due 3/6/28   110,466 
 31,111   GTT Communications Inc., 2.950% (3-Month USD-LIBOR + 0.275%) due 5/31/25(d)   25,297 
 57,328   Gulf Finance LLC, 6.250% (1-Month USD-LIBOR + 0.525%) due 8/25/23   48,622 
 169,150   Harbor Freight Tools USA Inc., 3.750% (1-Month USD-LIBOR + 0.300%) due 10/19/27   169,397 
     Hayward Industries Inc.:     
 95,000   due 5/12/28(l)   94,921 
 128,429   Helios Software Holdings Inc., 3.930% (3-Month USD-LIBOR + 0.375%) due 3/11/28   128,493 
 58,950   Hexion Inc., 3.710% (3-Month USD-LIBOR + 0.350%) due 7/1/26   58,803 
 207,461   H-Food Holdings LLC, 3.780% (1-Month USD-LIBOR + 0.369%) due 5/23/25   206,240 
     HighTower Holding LLC:     
 68,000   4.750% (3-Month USD-LIBOR + 0.400%) due 4/21/28   68,149 
     Hillman Group Inc.:     
 40,000   due 2/24/28(l)   39,925 
 65,000   Horizon Therapeutics USA Inc., 2.500% (1-Month USD-LIBOR + 0.200%) due 3/15/28   64,861 
     Hyland Software Inc.:     
 10,000   7.000% (1-Month USD-LIBOR) due 7/7/25(f)(g)   10,087 
 40,125   7.000% (1-Month USD-LIBOR + 0.625%) due 7/7/25   40,292 
 106,366   iHeartCommunications Inc., 3.093% (1-Month USD-LIBOR + 0.300%) due 5/1/26   105,191 
 158,400   Informatica LLC, 3.343% (1-Month USD-LIBOR + 0.325%) due 2/25/27   157,410 

 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)
 
Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
SENIOR LOANS - 1.1%(e) (continued)     
$120,000   Ingram Micro Inc., due 3/30/28(l)  $120,050 
 36,839   Intelsat Jackson Holdings SA, 6.500% (3-Month USD-LIBOR + 0.550%) due 7/13/22   37,023 
 145,000   ION Trading Finance Ltd., 4.952% (3-Month USD-LIBOR + 0.475%) due 4/1/28   145,336 
 84,022   Iqvia Inc., 1.953% (3-Month USD-LIBOR + 0.175%) due 6/11/25   83,617 
 119,700   IRB Holding Corp., 4.250% (3-Month USD-LIBOR + 0.325%) due 12/15/27   119,615 
 110,000   Ivanti Software Inc., 5.750% (3-Month USD-LIBOR + 0.475%) due 12/1/27   109,878 
 145,000   Jazz Pharmaceuticals PLC, 4.000% (1-Month USD-LIBOR + 0.350%) due 5/5/28   145,596 
 79,401   KBR Inc., 2.843% (1-Month USD-LIBOR + 0.275%) due 2/5/27   79,467 
 69,975   Kenan Advantage Group Inc., 4.500% (1-Month USD-LIBOR + 3.750%) due 3/24/26   69,942 
 113,563   Kestrel Bidco Inc., 4.000% (3-Month USD-LIBOR + 0.300%) due 12/11/26   110,191 
 98,982   Kindred Healthcare LLC, 4.625% (1-Month USD-LIBOR + 0.450%) due 7/2/25   98,735 
 115,000   Kleopatra Finco SARL, 5.250% (3-Month USD-LIBOR + 0.475%) due 2/12/26   114,664 
 35,000   Kodiak BP LLC, 4.000% (3-Month USD-LIBOR + 0.325%) due 3/12/28   34,898 
 109,738   Kronos Acquisition Holdings Inc., 4.250% (3-Month USD-LIBOR + 0.375%) due 12/22/26   108,777 
     LBM Acquisition LLC:     
 12,727   4.250%  (3-Month USD-LIBOR + 0.375%) due 12/17/27   12,701 
 85,909   4.500%  (3-Month USD-LIBOR + 0.375%) due 12/17/27   85,730 
 7,135   Lealand Finance Co. BV, 4.093% (1-Month USD-LIBOR + 0.400%) due 6/30/25   3,118 
 177,368   LifePoint Health Inc., 3.843% (1-Month USD-LIBOR + 0.375%) due 11/16/25   177,283 
 34,751   Lions Gate Capital Holdings LLC, 2.343% (1-Month USD-LIBOR + 0.225%) due 3/24/25   34,543 
 154,613   LogMeIn Inc., 4.845% (1-Month USD-LIBOR + 0.475%) due 8/31/27   154,588 
 127,193   Lower Cadence Holdings LLC, 4.093% (1-Month USD-LIBOR + 0.400%) due 5/22/26   125,603 
 132,044   Lucid Energy Group II Borrower LLC, 4.000% (1-Month USD-LIBOR + 0.300%) due 2/17/25   130,724 
 149,625   Lummus Technology Holdings V LLC, 3.593% (1-Month USD-LIBOR + 0.350%) due 6/30/27   148,663 
 36,567   Maravai Intermediate Holdings LLC, 4.750% (1-Month USD-LIBOR + 0.375%) due 10/19/27   36,635 
 150,000   Mavis Tire Express Services Topco Corp., 4.750% (3-Month USD-LIBOR + 0.400%) due 5/4/28   150,242 
 163,415   MED ParentCo LP, 4.343% (1-Month USD-LIBOR + 0.425%) due 8/31/26   163,062 
 140,323   Messer Industries GmbH, 2.703% (3-Month USD-LIBOR + 0.250%) due 3/2/26   139,131 
 50,000   Michaels Cos. Inc., 5.000% (3-Month USD-LIBOR + 0.425%) due 4/15/28   50,099 
 110,000   Mileage Plus Holdings LLC, 6.250% (3-Month USD-LIBOR + 0.525%) due 6/21/27   117,315 
 199,866   Minotaur Acquisition Inc., 4.843% (1-Month USD-LIBOR + 0.475%) due 3/27/26   199,567 
 29,848   Mirion Technologies Finance LLC, 4.203% (3-Month USD-LIBOR + 0.400%) due 3/6/26   29,960 
     Misys Ltd.:     
 130,428   4.500%  (3-Month USD-LIBOR + 0.350%) due 6/13/24   128,694 
 45,000   8.250%  (3-Month USD-LIBOR + 0.725%) due 6/13/25   45,506 
     Mitchell International Inc.:     
 121,218   3.343%  (1-Month USD-LIBOR + 0.325%) due 11/29/24   119,606 
 30,000   7.343%  (1-Month USD-LIBOR + 0.725%) due 12/1/25   29,944 
 25,999   MLN US HoldCo LLC, 4.606% (1-Month USD-LIBOR + 0.450%) due 11/30/25   22,998 
     Motion Acquisition Ltd.:     
 39,503   3.453%  (3-Month USD-LIBOR + 0.325%) due 11/12/26   38,225 
 95,123   MPH Acquisition Holdings LLC, 3.750% (3-Month USD-LIBOR + 0.275%) due 6/7/23   94,972 
 52,802   NASCAR Holdings LLC, 2.843% (1-Month USD-LIBOR + 0.275%) due 10/19/26   52,657 
 43,988   NCR Corp., 2.690% (3-Month USD-LIBOR + 0.250%) due 8/28/26   43,438 
 24,937   Option Care Health Inc., 3.843% (1-Month USD-LIBOR + 0.375%) due 8/6/26   24,953 
 145,000   Organon & Co., due 6/2/28(l)   144,793 
 61,702   Ortho-Clinical Diagnostics Inc., 3.108% (1-Month USD-LIBOR + 0.300%) due 6/30/25   61,702 
 43,988   Outcomes Group Holdings Inc., 3.453% (3-Month USD-LIBOR + 0.325%) due 10/24/25   43,438 
 65,000   Packaging Coordinators Midco Inc., 4.250% (1-Month USD-LIBOR + 0.350%) due 11/30/27   65,101 
 70,000   Packers Holdings LLC, 4.000% (3-Month USD-LIBOR + 0.325%) due 3/9/28   69,615 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)
 
Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
SENIOR LOANS - 1.1%(e) (continued)     
$36,994   Pactiv Evergreen Inc., 2.843% (1-Month USD-LIBOR + 0.275%) due 2/5/23  $36,896 
 70,000   PAI Holdco Inc., 4.500% (2-Month USD-LIBOR + 0.375%) due 10/28/27   70,153 
 75,000   Park River Holdings Inc., 4.000% (3-Month USD-LIBOR + 0.325%) due 12/28/27   74,496 
     Pathway Vet Alliance LLC:     
 19,429   3.865% (1-Month USD-LIBOR) due 3/31/27   19,332 
 208,504   4.146% (1-Month USD-LIBOR + 0.400%) due 3/31/27(g)   207,461 
 47,036   PCI Gaming Authority, 2.593% (1-Month USD-LIBOR + 0.250%) due 5/29/26   46,795 
 125,000   Peraton Corp., 4.500% (1-Month USD-LIBOR + 0.375%) due 2/1/28   125,121 
 145,000   Petco Health and Wellness Co., Inc., 4.000% (3-Month USD-LIBOR + 0.325%) due 3/3/28   144,897 
 75,000   PetSmart LLC, 4.500% (3-Month USD-LIBOR + 0.375%) due 2/11/28   75,225 
 4,987   PetVet Care Centers LLC, 4.250% (1-Month USD-LIBOR + 0.350%) due 2/14/25   4,986 
 129,025   PG&E Corp., 3.500% (3-Month USD-LIBOR + 0.300%) due 6/23/25   127,896 
 99,491   Phoenix Services International LLC, 4.750% (1-Month USD-LIBOR + 0.375%) due 3/1/25   98,776 
 30,000   Pike Corp., 3.100% (1-Month USD-LIBOR + 0.300%) due 1/21/28   29,930 
 39,897   Playa Resorts Holding BV, 3.750% (1-Month USD-LIBOR + 0.275%) due 4/29/24   38,178 
     Playtika Holding Corp.:     
 95,000   2.843%  (1-Month USD-LIBOR + 0.275%) due 3/13/28   94,590 
 145,000   PODS LLC, 3.750% (1-Month USD-LIBOR + 0.300%) due 3/31/28   144,690 
 77,611   PowerTeam Services LLC, 4.250% (3-Month USD-LIBOR + 0.325%) due 3/6/25   76,835 
 25,000   PQ Corp., due 5/26/28(l)   25,000 
 54,113   Prairie ECI Acquiror LP, 4.843% (1-Month USD-LIBOR + 0.475%) due 3/11/26   52,362 
 143,188   Pregis TopCo LLC, 4.093% (1-Month USD-LIBOR + 0.400%) due 7/31/26   142,830 
 24,813   Presidio Holdings Inc., 3.685% (3-Month USD-LIBOR + 0.350%) due 1/22/27   24,699 
 68,934   Pro Mach Group Inc., 2.843% (1-Month USD-LIBOR + 0.275%) due 3/7/25   67,785 
 134,021   Pug LLC, 3.593% (1-Month USD-LIBOR + 0.350%) due 2/12/27   130,503 
 155,000   Rackspace Technology Global Inc., 3.500% (3-Month USD-LIBOR + 0.275%) due 2/15/28   154,240 
     Redstone Holdco 2 LP:     
 23,910   due 4/27/28(l)   23,686 
 61,090   5.500%  (3-Month USD-LIBOR + 0.475%) due 4/27/28   60,518 
     Renaissance Holding Corp.:     
 184,943   3.343%  (1-Month USD-LIBOR + 0.325%) due 5/30/25   182,994 
 35,000   due 5/29/26(l)   34,942 
 40,000   Rent-A-Center Inc., 4.750% (1-Month USD-LIBOR + 0.400%) due 2/17/28   40,217 
 122,135   RentPath LLC, 7.000% (3-Month USD-LIBOR + 0.375%) due 12/17/21   109,921 
 43,439   Reynolds Consumer Products LLC, 1.843% (1-Month USD-LIBOR + 0.175%) due 2/4/27   43,222 
 59,850   Riverbed Technology Inc., 7.000% (2-Month USD-LIBOR + 0.600%) due 12/31/25   56,829 
 44,775   Ryan Specialty Group LLC, 3.750% (1-Month USD-LIBOR + 0.300%) due 9/1/27   44,747 
     Sabre GLBL Inc.:     
 89,308   2.093%  (1-Month USD-LIBOR + 0.200%) due 2/22/24   87,649 
 34,913   4.750%  (1-Month USD-LIBOR + 0.400%) due 12/17/27   35,087 
 74,809   Schenectady International Group Inc., 4.849% (3-Month USD-LIBOR + 0.475%) due 10/15/25   74,902 
 40,800   Science Applications International Corp., 1.968% (1-Month USD-LIBOR + 0.188%) due 3/12/27   40,647 
 173,011   Scientific Games International Inc., 2.843% (1-Month USD-LIBOR + 0.275%) due 8/14/24   171,208 
 50,000   SCIH Salt Holdings Inc., 4.750% (3-Month USD-LIBOR + 4.000%) due 3/16/27   49,650 
 143,341   Sedgwick Claims Management Services Inc., 3.343% (1-Month USD-LIBOR + 0.325%) due 12/31/25   141,648 
 206,850   Sinclair Television Group Inc., 2.600% (1-Month USD-LIBOR + 0.250%) due 9/30/26   204,653 
 178,246   SIWF Holdings Inc., 4.343% (1-Month USD-LIBOR + 0.425%) due 6/15/25   178,301 
 86,819   Six Flags Theme Parks Inc., 1.850% (1-Month USD-LIBOR + 0.175%) due 4/17/26   84,648 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)
 
Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
SENIOR LOANS - 1.1%(e) (continued)     
$90,000   SkyMiles IP Ltd., 4.750% (3-Month USD-LIBOR + 0.375%) due 10/20/27  $94,265 
 19,750   SMG US Midco 2 Inc., 2.607% (3-Month USD-LIBOR + 0.250%) due 1/23/25   19,096 
 74,179   SolarWinds Holdings Inc., 2.843% (1-Month USD-LIBOR + 0.275%) due 2/5/24   73,066 
     Solenis Holdings LLC:     
 118,486   4.135% (3-Month USD-LIBOR + 0.400%) due 6/26/25   118,357 
 5,000   8.635% (3-Month USD-LIBOR + 0.850%) due 6/26/26   4,982 
     Southern Veterinary Partners LLC:     
 140,255   5.000% (3-Month USD-LIBOR + 0.400%) due 10/5/27   140,430 
 110,000   Spin Holdco Inc., 4.750% (3-Month USD-LIBOR + 0.400%) due 3/4/28   109,794 
 65,000   SRS Distribution Inc., due 6/4/28(l)   64,838 
 49,918   Staples Inc., 5.176% (3-Month USD-LIBOR + 0.500%) due 4/16/26   48,684 
 34,650   Sunshine Luxembourg VII SARL, 4.500% (3-Month USD-LIBOR + 0.375%) due 10/1/26   34,747 
 31,507   Syncreon Group BV, 6.000% (1-Month USD-LIBOR + 0.500%) due 10/1/24   31,245 
 143,485   TAMKO Building Products LLC, 3.129% (3-Month USD-LIBOR + 0.300%) due 5/29/26   142,767 
 64,076   Team Health Holdings Inc., 3.750% (1-Month USD-LIBOR + 0.275%) due 2/6/24   61,673 
 79,600   Tech Data Corp., 5.593% (1-Month USD-LIBOR + 0.550%) due 6/30/25   79,750 
 50,000   Tecta America Corp., 5.000% (3-Month USD-LIBOR + 0.425%) due 4/6/28   49,812 
 130,181   Telesat Canada, 2.850% (1-Month USD-LIBOR + 0.275%) due 12/7/26   124,819 
 143,191   Terrier Media Buyer Inc., 3.593% (1-Month USD-LIBOR + 0.350%) due 12/17/26   142,475 
 15,000   TIBCO Software Inc., 7.350% (1-Month USD-LIBOR + 0.725%) due 3/3/28   15,180 
 50,000   Tiger Acquisition LLC, due 6/1/28(l)   49,854 
 196,727   Titan Acquisition Ltd., 3.267% (3-Month USD-LIBOR + 0.300%) due 3/28/25   192,854 
 34,731   Trans Union LLC, 1.843% (1-Month USD-LIBOR + 0.175%) due 11/16/26   34,579 
 192,009   TransDigm Inc., 2.343% (1-Month USD-LIBOR + 0.225%) due 12/9/25   189,334 
 104,132   Travel Leaders Group LLC, 4.093% (1-Month USD-LIBOR + 0.400%) due 1/25/24   99,099 
     Travelport Finance (Luxembourg) SARL:     
 76,950   9.000%  (3-Month USD-LIBOR + 8.000%) due 2/28/25   78,653 
 29,817   5.203%  (3-Month USD-LIBOR + 0.500%) due 5/29/26   26,425 
 75,000   Traverse Midstream Partners LLC, 6.500% (1-Month USD-LIBOR + 0.550%) due 9/27/24   74,781 
     Tricorbraun Holdings Inc.:     
 459   1.696%  (3-Month USD-LIBOR + 0.325%) due 3/3/28   455 
 61,228   3.750%  (2-Month USD-LIBOR + 0.325%) due 3/3/28   60,738 
 135,000   Triton Water Holdings Inc., 4.000% (3-Month USD-LIBOR + 0.350%) due 3/31/28   134,831 
 40,000   Truck Hero Inc., 4.500% (1-Month USD-LIBOR + 0.375%) due 1/31/28   40,000 
 44,883   U.S. Silica Co., 5.000% (1-Month USD-LIBOR + 0.400%) due 5/1/25   42,948 
     Uber Technologies Inc.:     
 124,679   3.593%  (1-Month USD-LIBOR + 0.350%) due 4/4/25   124,612 
 9,820   3.593%  (1-Month USD-LIBOR + 0.350%) due 2/25/27   9,814 
 63,826   UGI Energy Services LLC, 3.843% (1-Month USD-LIBOR + 0.375%) due 8/13/26   63,826 
     UKG Inc.:     
 214,001   4.000%  (3-Month USD-LIBOR + 0.325%) due 5/4/26   214,269 
 20,000   7.500%  (3-Month USD-LIBOR + 0.675%) due 5/3/27   20,488 
 39,750   Ultra Clean Holdings Inc., 3.843% (1-Month USD-LIBOR + 0.375%) due 8/27/25   39,800 
 55,000   United AirLines Inc., 4.500% (3-Month USD-LIBOR + 0.375%) due 4/21/28   55,481 
 36,569   United Natural Foods Inc., 3.593% (1-Month USD-LIBOR + 0.350%) due 10/22/25   36,602 
 29,625   Univar Solutions USA Inc., 2.093% (1-Month USD-LIBOR + 0.200%) due 7/1/26   29,503 
 36,177   Univision Communications Inc., 4.750% (1-Month USD-LIBOR + 0.375%) due 3/15/26   36,263 
 54,450   Upstream Newco Inc., 4.593% (1-Month USD-LIBOR + 0.450%) due 11/20/26   54,427 
 206,850   US Foods Inc., 2.093% (1-Month USD-LIBOR + 0.200%) due 9/13/26   203,431 
 4,988   Utz Quality Foods LLC, 3.093% (1-Month USD-LIBOR + 0.300%) due 1/20/28   4,982 
 89,560   Vantage Specialty Chemicals Inc., 4.500% (3-Month USD-LIBOR + 0.350%) due 10/28/24   86,873 
 5,000   Verscend Holding Corp., 4.093% (1-Month USD-LIBOR + 0.400%) due 8/27/25   5,001 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)
 
Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units
   Security  Value 
SENIOR LOANS - 1.1%(e) (continued)     
$259,917   VICI Properties 1 LLC, 1.843% (1-Month USD-LIBOR + 0.175%) due 12/20/24  $257,318 
 30,000   Virtusa Corp., 5.000% (1-Month USD-LIBOR + 0.425%) due 2/11/28   30,125 
 167,184   Wand Newco 3 Inc., 3.093% (1-Month USD-LIBOR + 0.300%) due 2/5/26   165,305 
 39,899   WaterBridge Midstream Operating LLC, 6.750% (3-Month USD-LIBOR + 0.575%) due 6/22/26   37,882 
 195,725   Whatabrands LLC, 2.851% (1-Month USD-LIBOR + 0.275%) due 7/31/26   194,768 
 35,000   Wheel Pros Inc., 5.250% (1-Month USD-LIBOR + 0.450%) due 5/11/28   35,081 
 105,000   WIN Waste Innovations Holdings Inc., 3.250% (1-Month USD-LIBOR + 0.275%) due 3/24/28   104,775 
 70,000   Zebra Buyer LLC, due 4/21/28(l)   70,233 
 173,737   Zelis Cost Management Buyer Inc., 3.610% (1-Month USD-LIBOR + 0.350%) due 9/30/26   173,303 
 20,000   Ziggo Financing Partnership, 2.601% (1-Month USD-LIBOR + 0.250%) due 4/30/28   19,806 
     TOTAL SENIOR LOANS     
     (Cost - $23,412,036)   23,509,549 
           
   Rating††       
MUNICIPAL BONDS - 0.0% 
California - 0.0% 
 140,000  AA- Regents of the University of California Medical Center Pooled Revenue, 6.548% due 5/15/48   210,290 
 360,000  AA- State of California, GO, 7.300% due 10/1/39   559,778 
      Total California   770,068 
Connecticut - 0.0%       
 100,000  A+ State of Connecticut, GO, 3.000% due 7/1/21   100,232 
New York - 0.0%       
 200,000  A New York State Thruway Authority, 2.900% due 1/1/35   209,737 
      TOTAL MUNICIPAL BONDS     
      (Cost - $1,088,740)   1,080,037 

 

Shares/Units          
           
EXCHANGE TRADED FUND (ETF) - 1.3%     
 256,191    iShares Core U.S. Aggregate Bond   29,346,679 
      (Cost - $29,999,966)     
COMMON STOCKS - 0.0%     
COMMUNICATIONS - 0.0%     
Telecommunications - 0.0%     
 1,885    Frontier Communications Parent Inc.*   47,087 
DIVERSIFIED - 0.0%     
SPACs - 0.0%     
 1,640    Foresight Energy LLC/Foresight Energy Finance Corp.*(f)(g)   30,791 
ENERGY - 0.0%     
Oil & Gas - 0.0%     
 1,922    Gulfport Energy Corp.*(d)   120,125 
 90    Oasis Petroleum Inc.   7,975 
 1,842    Tapstone Energy LLC/Tapstone Energy Finance Corp.*(f)(g)   4,992 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)
 
Destinations Core Fixed Income Fund (continued)

 

Shares/Units   Security  Value 
COMMON STOCKS - (continued) 
ENERGY - 0.0% (continued) 
Oil & Gas - 0.0% (continued)     
 932   Whiting Petroleum Corp.*  $42,676 
     Total Oil & Gas   175,768 
     TOTAL ENERGY   175,768 
INDUSTRIAL - 0.0%     
Engineering & Construction - 0.0%     
 3,092   Mcdermott International Ltd.*   1,515 
     TOTAL COMMON STOCKS     
     (Cost - $94,826)   255,161 
     TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS     
     (Cost - $2,303,112,207)   2,279,832,698 

 

Face
Amount
         
SHORT-TERM INVESTMENTS - 6.1%     
TIME DEPOSITS - 6.1%     
$16,181,744   Banco Santander SA - Frankfurt, 0.005% due 6/1/21  $16,181,744 
 58,609,162   Skandinaviska Enskilda Banken AB - Stockholm, 0.005% due 6/1/21   58,609,162 
 58,672,881   Sumitomo Mitsui Banking Corp. - Tokyo, 0.005% due 6/1/21   58,672,881 
     TOTAL TIME DEPOSITS     
     (Cost - $133,463,787)   133,463,787 
     TOTAL INVESTMENTS - 109.8%     
     (Cost - $22,436,575,994)   2,413,296,485 
     Liabilities in Excess of Other Assets - (9.8)%   (214,725,960)
     TOTAL NET ASSETS - 100.0%  $2,198,570,525 

 

 

#May 28, 2021 represents the last business day of the Fund’s fiscal first quarter.
† All ratings are by Standard & Poor's Rating Service, unless otherwise noted.
*Non-income producing security.
(a)Restricted security that may be sold to “qualified institutional buyers” pursuant to the conditions of Rule 144A under the Securities Act of 1933, as amended. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees, unless otherwise noted. The aggregate value of restricted 144A holdings at May 28, 2021, amounts to approximately $435,171,243 and represents 19.79% of net assets.
(b)Security is perpetual in nature and has no stated maturity date.
(c)Payment in-kind security for which part of the income earned may be paid as additional principal.
(d)Security is currently in default.
(e)Variable rate security. Interest rate disclosed is that which was in effect at May 28, 2021.
(f)Security is valued in good faith at fair value by or under the direction of the Board of Trustees using significant unobservable inputs.
(g)Illiquid security. The aggregate value of illiquid holdings at May 28, 2021, amounts to approximately $30,045,642 and represents 1.37% of net assets.
(h)Interest only security.
(i)Principal only security.
(j)All or a portion of this security is pledged by the Fund as collateral for short sales or derivative transactions.
(k)This security is traded on a TBA basis.
(l)This position represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate.

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)
 
Destinations Core Fixed Income Fund (continued)

 

Abbreviations used in this schedule:
CLO Collateralized Loan Obligation
CMT Constant Maturity Treasury Index
GO General Obligation
LIBOR London Interbank Offered Rate
LLC Limited Liability Company
LP Limited Partnership
PCL Public Company Limited
PLC Public Limited Company
REMICS Real Estate Mortgage Investment Conduit
SARL Société à Responsabilité Limitée
SOFR Secured Overnight Financing Rate
SPACs Special Purpose Acquisition Companies
UMBS Uniform Mortgage Backed Securities

 

Summary of Investments by Security Type^
Corporate Bonds & Notes   24.2%
Collateralized Mortgage Obligations   21.1 
U.S. Government Agencies & Obligations   20.2 
Mortgage-Backed Securities   17.9 
Asset-Backed Securities   7.9 
Exchange Traded Fund (ETF)   1.2 
Sovereign Bonds   1.0 
Senior Loans   1.0 
Municipal Bonds   0.0*
Common Stocks   0.0*
Short-Term Investments   5.5 
    100.0%

 

 

^ As a percentage of total investments.

* Position represents less than 0.05%.

 

At May 28, 2021, Destinations Core Fixed Income Fund had open exchange traded futures contracts as described below.

 

The unrealized appreciation on the open contracts was as follows:

 

Open Futures Contracts  Number
of
Contracts
  Expiration
Date
(Month/Year)
  Notional
Amounts
   Market Value   Unrealized Appreciation/
(Depreciation)
 
Contracts to Buy:                     
U.S. 2 Year Note (CBT)   52  9/21  $11,474,594   $11,478,188   $3,594 
U.S. Ultra Bond (CBT)   42  9/21   7,743,379    7,780,500    37,121 
                    40,715 
Contracts to Sell:                     
U.S. 10 Year Note (CBT)  95  9/21  $(12,532,346)  $12,534,063   $(1,716)
U.S. 10 Year Ultra  136  9/21   (19,721,746)   19,713,625    8,120 
U.S. 5 Year Note (CBT)  363  9/21   (44,936,214)   44,958,117    (21,903)
U.S. Long Bond (CBT)  51  9/21   (7,973,656)   7,983,094    (9,438)
                    (24,937)
Net Unrealized Appreciation on Open Exchange Traded Futures Contracts                  $15,778 

 

 

 

 

Schedules of Investments
May 28, 2021# (unaudited)
 
Destinations Core Fixed Income Fund (concluded)

 

Schedule of Forward Sale Commitments

 

Face
Amounts
   Security  Value 
     Federal National Mortgage Association:     
$1,700,000   3.500% due 6/1/36(a) (Proceeds — $1,815,680)  $1,815,619 
     Government National Mortgage Association:     
 7,215,000   2.000% due 6/1/51(a) (Proceeds — $7,323,225)   7,336,050 
     TOTAL OPEN FORWARD SALE COMMITMENTS     
     (Proceeds — $9,138,905)  $9,151,669 

 

 

(a) This security is traded on a TBA basis.

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Low Duration Fixed Income Fund

 

Face
Amount/Units†
   Security  Value 
CORPORATE BONDS & NOTES - 50.5%      
Basic Materials - 0.1%     
$110,000   DuPont de Nemours Inc., Senior Unsecured Notes, 4.493% due 11/15/25   $125,468 
 5,000   Glencore Funding LLC, Company Guaranteed Notes, 4.125% due 5/30/23(a)    5,326 
 200,000   LG Chem Ltd., 3.250% due 10/15/24    215,697 
 200,000   POSCO, Senior Unsecured Notes, 2.375% due 11/12/22    204,426 
     Total Basic Materials    550,917 
Communications - 17.1%     
 105,000   AT&T Inc., Senior Unsecured Notes, 4.450% due 4/1/24    115,400 
 200,000   Baidu Inc., Senior Unsecured Notes, 3.075% due 4/7/25    211,107 
 5,465,000   CCO Holdings LLC/CCO Holdings Capital Corp., Senior Unsecured Notes, 4.000% due 3/1/23(a)    5,505,987 
 1,032,000EUR   CentralNic Group PLC, Senior Secured Notes, 7.000% (3-Month EURIBOR + 7.000%) due 7/3/23(b)    1,308,865 
 835,000   Cogent Communications Group Inc., Senior Secured Notes, 5.375% due 3/1/22(a)    849,613 
 6,970,000   CSC Holdings LLC, Senior Unsecured Notes, 6.750% due 11/15/21    7,133,795 
 9,455,000   DISH DBS Corp., Company Guaranteed Notes, 6.750% due 6/1/21    9,455,000 
 2,827,000   DISH Network Corp., Senior Unsecured Notes, 2.375% due 3/15/24    2,735,123 
 120,000   eBay Inc., Senior Unsecured Notes, 2.750% due 1/30/23    124,508 
 8,286,000   HC2 Holdings Inc., Senior Secured Notes, 8.500% due 2/1/26(a)    8,182,425 
 11,457,000   Hughes Satellite Systems Corp., Company Guaranteed Notes, 7.625% due 6/15/21    11,482,205 
 10,578,000EUR   Linkem SpA, Senior Secured Notes, 6.000% (3-Month EURIBOR + 6.000%) due 8/9/22(a)(b)    12,900,516 
 7,707,000   Lumen Technologies Inc., Senior Unsecured Notes, 6.450% due 6/15/21    7,720,102 
 441,000   Meredith Corp., Senior Secured Notes, 6.500% due 7/1/25(a)    475,067 
 200,000   SingTel Group Treasury Pte Ltd., Company Guaranteed Notes, 3.250% due 6/30/25    214,925 
 5,653,000   Sirius XM Radio Inc., Company Guaranteed Notes, 3.875% due 8/1/22(a)    5,677,817 
 8,654,000   Sprint Corp., Company Guaranteed Notes, 7.250% due 9/15/21    8,787,531 
 200,000   Tencent Holdings Ltd., Senior Unsecured Notes, 1.810% due 1/26/26(a)    203,601 
 2,335,000   VeriSign Inc., Senior Unsecured Notes, 4.625% due 5/1/23    2,338,199 
 120,000   Verizon Communications Inc., Senior Unsecured Notes, 1.256% (3-Month USD-LIBOR + 1.100%) due 5/15/25(b)    123,447 
     Total Communications    85,545,233 
Consumer Cyclical - 4.2%     
 1,272,000   1011778 BC ULC/New Red Finance Inc., Senior Secured Notes, 4.250% due 5/15/24(a)    1,284,300 
 3,717,000   At Home Holding III Inc., Senior Secured Notes, 8.750% due 9/1/25(a)    4,144,455 
 250,000   CK Hutchison International 21 Ltd., Company Guaranteed Notes, 1.500% due 4/15/26(a)    251,797 
     Dollar Tree Inc., Senior Unsecured Notes:     
 75,000   3.700% due 5/15/23    79,538 
 35,000   4.000% due 5/15/25    38,780 
 1,700,000EUR   European Lingerie Group AB, Senior Secured Notes, 7.750% (3-Month EURIBOR + 7.750%) due 6/30/21(a)(b)(c)(d)   932,918 
 5,489,000   Ford Motor Credit Co. LLC, Senior Unsecured Notes, 5.875% due 8/2/21    5,516,445 
 100,000   General Motors Financial Co., Inc., Company Guaranteed Notes, 5.250% due 3/1/26    115,946 
 6,266,334   Hawaiian Airlines Class B Pass-Through Certificates, Pass-Thru Certificates, 4.950% due 1/15/22    6,255,937 
 911,000   Hercules Achievement Inc./Varsity Brands Holding Co., Inc., Senior Secured Notes, 9.000% (3-Month USD-LIBOR + 8.000%) due 12/22/24(a)(b)    920,110 
 115,000   Hyundai Capital America, Senior Unsecured Notes, 2.850% due 11/1/22(a)    118,566 
 1,000,000EUR   SB Holdco PLC, Secured Notes, 8.000% (3-Month EURIBOR + 8.000%) due 7/13/22(b)    1,234,744 
 115,000   Southwest Airlines Co., Senior Unsecured Notes, 4.750% due 5/4/23    123,996 
     Total Consumer Cyclical    21,017,532 
Consumer Non-cyclical - 10.0%     
 115,000   AbbVie Inc., Senior Unsecured Notes, 2.300% due 11/21/22    118,327 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Low Duration Fixed Income Fund (continued)

 

Face
Amount/Units†
   Security  Value 
CORPORATE BONDS & NOTES - (continued)     
Consumer Non-cyclical - 10.0% - (continued)     
     Anthem Inc., Senior Unsecured Notes:     
$35,000   3.300% due 1/15/23   $36,644 
 75,000   3.500% due 8/15/24    81,286 
 5,461,000   APX Group Inc., Senior Secured Notes, 7.875% due 12/1/22    5,488,469 
 110,000   AstraZeneca PLC, Senior Unsecured Notes, 3.500% due 8/17/23    117,300 
 125,000   BAT International Finance PLC, Company Guaranteed Notes, 1.668% due 3/25/26    124,740 
 2,733,000   Chobani LLC/Chobani Finance Corp. Inc., Company Guaranteed Notes, 7.500% due 4/15/25(a)    2,843,741 
 105,000   Conagra Brands Inc., Senior Unsecured Notes, 4.300% due 5/1/24    116,087 
 6,250,000SEK   Desenio Holding AB, Secured Notes, 5.500% (3-Month SEK-STIBOR + 5.500%) due 12/16/24(b)    773,889 
 13,344,000   Fresh Market Inc., Senior Secured Notes, 9.750% due 5/1/23(a)    13,714,430 
     Gaming Innovation Group Inc. :     
 5,000,000SEK   8.500% (3-Month SEK-STIBOR + 8.500%) due 6/11/24(b)(e)    602,112 
 18,500,000SEK   8.500% (3-Month SEK-STIBOR + 8.500%) due 6/11/24(a)(b)(e)    2,227,815 
 105,000   HCA Inc., Senior Secured Notes, 5.000% due 3/15/24    117,085 
 2,021,000   Hertz Corp., Secured Notes, 7.625% due 6/1/22(a)(c)(d)    2,210,469 
 200,000   HPHT Finance 19 Ltd., Company Guaranteed Notes, 2.875% due 11/5/24    210,580 
 3,176,000   Ingles Markets Inc., Senior Unsecured Notes, 5.750% due 6/15/23    3,183,940 
 6,895,000   Jaguar Holding Co. II/PPD Development LP, Company Guaranteed Notes, 4.625% due 6/15/25(a)    7,222,513 
 125,000   Keurig Dr Pepper Inc., Company Guaranteed Notes, 0.750% due 3/15/24    125,230 
     PayPal Holdings Inc., Senior Unsecured Notes:     
 95,000   2.200% due 9/26/22    97,395 
 25,000   1.350% due 6/1/23    25,505 
 200,000   PSA Treasury Pte Ltd., Company Guaranteed Notes, 2.500% due 4/12/26    209,410 
 65,000   Royalty Pharma PLC, Company Guaranteed Notes, 0.750% due 9/2/23(a)    65,031 
 400,000   Service Corp. International, Senior Unsecured Notes, 8.000% due 11/15/21    413,200 
 2,611,000   Surgery Center Holdings Inc., Company Guaranteed Notes, 6.750% due 7/1/25(a)    2,653,429 
 65,000   UnitedHealth Group Inc., Senior Unsecured Notes, 0.550% due 5/15/24    65,065 
 7,119,000   UpHealth Inc., Senior Unsecured Notes, 6.250% due 3/15/26(d)(e)    7,119,000 
     Total Consumer Non-cyclical    49,962,692 
Diversified - 1.1%     
 4,201,000EUR   LR Global Holding GmbH, Senior Secured Notes, 7.250% (3-Month EURIBOR + 7.250%) due 2/3/25(b)    5,274,563 
Energy - 2.3%     
 5,520,260   Martin Midstream Partners LP/Martin Midstream Finance Corp., Secured Notes, 10.000% due 2/29/24(a)    5,713,469 
 200,000   ONGC Videsh Vankorneft Pte Ltd., Company Guaranteed Notes, 2.875% due 1/27/22    202,574 
 4,416,000   PBF Logistics LP/PBF Logistics Finance Corp., Company Guaranteed Notes, 6.875% due 5/15/23    4,399,440 
 200,000   Petrobras Global Finance BV, Company Guaranteed Notes, 4.375% due 5/20/23    212,000 
 200,000   Petronas Capital Ltd., Company Guaranteed Notes, 3.125% due 3/18/22    204,094 
 125,000   Pioneer Natural Resources Co., Senior Unsecured Notes, 0.550% due 5/15/23    125,410 
 200,000   Saudi Arabian Oil Co., Senior Unsecured Notes, 2.750% due 4/16/22    204,164 
 115,000   Schlumberger Holdings Corp., Senior Unsecured Notes, 3.750% due 5/1/24(a)    124,231 
 200,000   Transportadora de Gas del Peru SA, Senior Unsecured Notes, 4.250% due 4/30/28    214,400 
 125,000   Valero Energy Corp., Senior Unsecured Notes, 1.200% due 3/15/24    126,421 
     Total Energy    11,526,203 
Financial - 3.4%     
 115,000   American Express Co., Senior Unsecured Notes, 3.700% due 11/5/21    116,396 
 120,000   Athene Global Funding, Senior Secured Notes, 0.710% (SOFR rate + 0.700%) due 5/24/24(a)(b)    120,257 
 125,000   Avolon Holdings Funding Ltd., Company Guaranteed Notes, 3.625% due 5/1/22(a)    128,065 
 200,000   Banco Bilbao Vizcaya Argentaria Colombia SA, Subordinated Notes, 4.875% due 4/21/25    209,002 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Low Duration Fixed Income Fund (continued)

 

Face
Amount/Units†
   Security  Value 
CORPORATE BONDS & NOTES - (continued)     
Financial - 3.4% - (continued)     
$150,000   Banco Continental SAECA, Senior Unsecured Notes, 2.750% due 12/10/25(a)  $147,151 
 150,000   Banco de Reservas de la Republica Dominicana, Subordinated Notes, 7.000% due 2/1/23   157,127 
     Bank of America Corp., Senior Unsecured Notes:     
 80,000   0.984% (3-Month USD-LIBOR + 0.790%) due 3/5/24(b)    80,801 
 40,000   0.700% (SOFR rate + 0.690%) due 4/22/25(b)   40,335 
 30,000   Bank of Nova Scotia, Senior Unsecured Notes, 0.550% due 9/15/23   30,094 
     Capital One Financial Corp., Senior Unsecured Notes:     
 35,000   3.200% due 1/30/23   36,575 
 75,000   3.900% due 1/29/24   81,276 
 115,000   Citigroup Inc., Senior Unsecured Notes, 1.158% (3-Month USD-LIBOR + 1.023%) due 6/1/24(b)   116,568 
 451,000   CTO Realty Growth Inc., Senior Unsecured Notes, 3.875% due 4/15/25(a)   462,546 
 200,000   Global Bank Corp., Senior Unsecured Notes, 4.500% due 10/20/21   201,100 
 105,000   Goldman Sachs Group Inc., Senior Unsecured Notes, 3.500% due 4/1/25   114,478 
 200,000   Grupo Aval Ltd., Company Guaranteed Notes, 4.750% due 9/26/22   206,752 
 100,000   Industrial Senior Trust, Company Guaranteed Notes, 5.500% due 11/1/22   104,126 
 41,639   Interoceanica IV Finance Ltd., Senior Secured Notes, zero coupon, due 11/30/25   39,130 
 120,000   JPMorgan Chase & Co., Senior Unsecured Notes, 3.207% (3-Month USD-LIBOR + 0.695%) due 4/1/23(b)   122,911 
 80,000   Macquarie Bank Ltd., Senior Unsecured Notes, 2.100% due 10/17/22(a)   82,024 
 30,000   Macquarie Group Ltd., Senior Unsecured Notes, 4.150% (3-Month USD-LIBOR + 1.330%) due 3/27/24(a)(b)   31,889 
 200,000   Malayan Banking Bhd, Subordinated Notes, 3.905% (5-Year USD Swap Rate + 2.542%) due 10/29/26(b)   201,996 
 105,000   Marsh & McLennan Cos., Inc., Senior Unsecured Notes, 3.875% due 3/15/24   114,573 
 120,000   Morgan Stanley, Senior Unsecured Notes, 0.529% (SOFR rate + 0.455%) due 1/25/24(b)   120,258 
     NongHyup Bank, Senior Unsecured Notes:     
 200,000   1.250% due 7/20/25(a)   200,459 
 200,000   1.250% due 7/20/25   200,459 
 200,000   Oversea-Chinese Banking Corp., Ltd, Subordinated Notes, 1.832% (5-Year CMT Index + 1.580%) due 9/10/30(a)(b)   200,320 
 140,447   Peru Enhanced Pass-Through Finance Ltd., Pass-Thru Certificates, zero coupon, due 6/2/25   133,776 
 105,000   Prudential Financial Inc., Senior Unsecured Notes, 3.500% due 5/15/24   114,445 
 115,000   Royal Bank of Canada, Senior Unsecured Notes, 0.535% (SOFR rate + 0.525%) due 1/20/26(b)   115,256 
 100,000   Scotiabank Peru SAA, Subordinated Notes, 4.500% (3-Month USD-LIBOR + 3.856%) due 12/13/27(b)   100,001 
 12,500,000SEK   Stockwik Förvaltning AB, Senior Secured Notes, 7.000% (3-Month SEK-STIBOR + 7.000%) due 9/3/23(b)   1,542,860 
 9,424,000   StoneX Group Inc., Senior Secured Notes, 8.625% due 6/15/25(a)   10,083,680 
 250,000   Temasek Financial I Ltd., Company Guaranteed Notes, 2.375% due 1/23/23   258,152 
     Truist Financial Corp., Senior Unsecured Notes:     
 55,000   2.200% due 3/16/23   56,814 
 55,000   2.850% due 10/26/24   59,143 
 200,000   United Overseas Bank Ltd., Subordinated Notes, 3.500% (5-Year USD Swap Rate + 2.236%) due 9/16/26(b)   201,064 
 5,040,000SEK   VNV Global AB, Senior Secured Notes, 5.750% due 10/4/22   626,692 
 115,000   Wells Fargo & Co., Senior Unsecured Notes, 1.654% (SOFR rate + 1.600%) due 6/2/24(b)   117,875 
 115,000   Welltower Inc., Senior Unsecured Notes, 3.625% due 3/15/24   123,967 
 110,000   WP Carey Inc., Senior Unsecured Notes, 4.250% due 10/1/26   123,839 
     Total Financial  $17,324,232 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Low Duration Fixed Income Fund (continued)

 

Face
Amount/Units†
   Security  Value 
CORPORATE BONDS & NOTES - (continued)
Government - 0.0%
 200,000   Banco Latinoamericano de Comercio Exterior SA, Senior Unsecured Notes, 2.375% due 9/14/25(a)   204,400 
Industrial - 4.6%
 3,000,000   Altera Shuttle Tankers LLC, Senior Unsecured Notes, 7.125% due 8/15/22   3,030,000 
 2,623,000   Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc., Company Guaranteed Notes, 6.000% due 2/15/25(a)   2,702,215 
 110,000   Boeing Co., Senior Unsecured Notes, 4.508% due 5/1/23   117,497 
 1,466,000   Borealis Finance LLC, Senior Secured Notes, 7.500% due 11/16/23(a)   1,498,985 
 1,370,000   C3 Nano Inc., Senior Secured Notes, 6.500% due 2/15/24(a)(d)   1,376,621 
 120,000   Carrier Global Corp., Senior Unsecured Notes, 2.242% due 2/15/25   125,462 
 7,905,000   Hillman Group Inc., Company Guaranteed Notes, 6.375% due 7/15/22(a)   7,910,533 
 120,000   Penske Truck Leasing Co. LP/PTL Finance Corp., Senior Unsecured Notes, 2.700% due 11/1/24(a)   126,937 
 120,000   Republic Services Inc., Senior Unsecured Notes, 2.500% due 8/15/24   126,608 
 5,652,000   SFL Corp., Ltd., Senior Unsecured Notes, 5.750% due 10/15/21   5,729,998 
     Union Pacific Corp., Senior Unsecured Notes:     
 115,000   3.200% due 6/8/21   115,062 
 10,000   3.150% due 3/1/24   10,733 
     Total Industrial   22,870,651 
Insurance - 0.3%
 13,830,000  SEK   ADDvise Group AB, 7.250% (3-Month SEK-STIBOR + 7.250%) due 5/21/24(b)(d)   1,659,641 
Mining - 1.6%
 7,800,000   Copper Mountain Mining Corp., 8.000% due 4/9/26(a)   8,099,000 
Technology - 3.4%
 5,142,000EUR   Azerion Holding BV, Senior Secured Notes, 7.250% due 4/28/24   6,443,363 
 2,075,000   Blast Motion Inc., Senior Secured Notes, 7.000% due 1/15/24(a)(e)   2,068,775 
 4,499,000   Diebold Nixdorf Inc., Company Guaranteed Notes, 8.500% due 4/15/24   4,604,997 
 125,000   Microchip Technology Inc., Senior Secured Notes, 0.972% due 2/15/24(a)   125,233 
 3,634,000   Tempo Acquisition LLC/Tempo Acquisition Finance Corp., Senior Unsecured Notes, 6.750% due 6/1/25(a)   3,699,775 
     Total Technology   16,942,143 
Utilities - 2.4%
 200,000   AES Gener SA, Junior Subordinated Notes, 7.125% (5-Year USD Swap Rate + 4.644%) due 3/26/79(a)(b)   212,800 
 55,000   Atmos Energy Corp., Senior Unsecured Notes, 0.625% due 3/9/23   55,052 
     Brazos Electric Power Cooperative Inc., :     
 6,027,000   zero coupon, due 3/23/49(d)(e)   5,424,300 
 4,493,333   zero coupon, due 3/23/49(d)(e)   4,044,000 
     DTE Energy Co., Senior Unsecured Notes:     
 60,000   2.529% due 10/1/24   63,231 
 45,000   1.050% due 6/1/25   44,934 
 139,100   Empresa Electrica Angamos SA, Senior Secured Notes, 4.875% due 5/25/29   139,100 
 200,000   Empresa Electrica Guacolda SA, Senior Unsecured Notes, 4.560% due 4/30/25   149,918 
 200,000   Enel Generacion Chile SA, Senior Unsecured Notes, 4.250% due 4/15/24   214,028 
 200,000   Inkia Energy Ltd., Senior Unsecured Notes, 5.875% due 11/9/27   203,000 
 200,000   Korea East-West Power Co., Ltd., Senior Unsecured Notes, 1.750% due 5/6/25(a)   204,153 
 85,000   NextEra Energy Capital Holdings Inc., Company Guaranteed Notes, 0.650% due 3/1/23   85,503 
 115,000   Pacific Gas & Electric Co., 1st Mortgage Notes, 1.750% due 6/16/22   115,007 
 110,000   PSEG Power LLC, Company Guaranteed Notes, 3.850% due 6/1/23   117,099 
 628,000   Rockpoint Gas Storage Canada Ltd., Senior Secured Notes, 7.000% due 3/31/23(a)   634,280 
 115,000   Southern California Edison Co., 1st Mortgage Notes, 0.840% (SOFR rate + 0.830%) due 4/1/24(b)   115,554 
 200,000   State Grid Overseas Investment Ltd., Senior Unsecured Notes, 1.000% due 8/5/25   195,444 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Low Duration Fixed Income Fund (continued)

 

Face
Amount/Units†
   Security  Value 
CORPORATE BONDS & NOTES - (continued)
Utilities - 2.4% - (continued)
$200,000   TNB Global Ventures Capital Bhd, Senior Unsecured Notes, 3.244% due 10/19/26  $212,963 
     Total Utilities   12,230,366 
     TOTAL CORPORATE BONDS & NOTES
(Cost - $251,217,305)
   253,207,573 
SENIOR LOANS (b) - 16.8%
     Alliance HealthCare Services Inc.:     
 4,219,191   5.500% (1-Month USD-LIBOR + 4.500%) due 10/24/23(e)   4,008,231 
 3,236,672   Change Healthcare Holdings LLC, 3.500% (3-Month USD-LIBOR + 1.500%) due 3/1/24   3,233,727 
 6,693,408   Cincinnati Bell Inc., 4.250% (1-Month USD-LIBOR + 3.250%) due 10/2/24   6,685,041 
 2,241,224   Diamond Resorts International Inc., due 9/2/23(f)   2,241,986 
 4,764,000   EP Energy LLC/Everest Acquisition Finance Inc, due 11/23/21(d)(e)(f)   4,761,023 
 476,014   Fieldwood Energy LLC, 9.750% (1-Month USD-LIBOR + 8.750%) due 8/4/21   490,294 
 5,346,441   Forterra Finance LLC, 4.000% (1-Month USD-LIBOR + 3.000%) due 10/25/23   5,344,034 
 3,717,444   Golden Nugget Online Gaming Inc., 13.000% (3-Month USD-LIBOR + 12.000%) due 10/4/23   4,126,363 
 6,130,932   Hertz Corp., due 12/31/21(f)   6,140,129 
 623,397   Hillman Group Inc., 4.093% (1-Month USD-LIBOR + 2.500%) due 5/30/25   621,527 
 1,328,000   Intelsat Jackson Holdings SA, 6.500% (3-Month USD-LIBOR + 4.500%) due 7/13/22   1,334,640 
 6,636,000   Jo-Ann Stores LLC, due 10/20/23(f)   6,622,728 
 10,715,000   JZ Capital Partners Ltd., 16.000% (1 Month USD-LIBOR + 11.000% cash + 4.000% PIK)  due 6/12/22(d)(e)   10,715,000 
 7,909,109   K&N Parent Inc., 5.750% (3-Month USD-LIBOR + 3.750%) due 10/20/23   7,572,972 
 2,695,935   Lealand Finance Co. BV, due 6/28/24(f)   1,752,358 
 14,647,000   Mallinckrodt International Finance SA, due 2/28/22(f)   14,386,137 
 4,277,402   Pixelle Specialty Solutions LLC, 7.500% (1-Month USD-LIBOR + 6.500%) due 10/31/24   4,260,464 
     TOTAL SENIOR LOANS
(Cost - $84,791,504)
   84,296,654 
ASSET-BACKED SECURITIES - 5.3%
 438,420   Aaset Trust, Series 2019-2, Class A, 3.376% due 10/16/39(a)   439,124 
     AccessLex Institute:     
 193,805   Series 2004-2, Class A3, 0.366% (3-Month USD-LIBOR + 0.190%) due 10/25/24(b)   191,479 
 217,368   Series 2007-A, Class A3, 0.447% (3-Month USD-LIBOR + 0.300%) due 5/25/36(b)   214,407 
     Affirm Asset Securitization Trust:     
 200,000   Series 2020-A, Class A, 2.100% due 2/18/25(a)   201,908 
 171,533   Series 2020-Z2, Class A, 1.900% due 1/15/25(a)   172,990 
 300,000   Series 2021-Z1, Class A, 1.070% due 8/15/25(a)(d)   300,168 
 1,043,486   Ajax Mortgage Loan Trust, Series 2019-C, Class A, 3.950% due 10/25/58(a)(b)   1,044,319 
 1,000,000   Allegro CLO X Ltd., Series 2019-1A, Class AR, 1.338% (3-Month USD-LIBOR + 1.150%) due 7/20/32(a)(b)   1,000,070 
 114,925   Aqua Finance Trust, Series 2020-AA, Class A, 1.900% due 7/17/46(a)   116,252 
 177,000   Arbor Realty Collateralized Loan Obligation Ltd., Series 2020-FL1, Class AS, 1.501% (1-Month USD-LIBOR + 1.400%) due 2/15/35(a)(b)   177,336 
 192,000   Arbor Realty Commercial Real Estate Notes Ltd., Series 2019-FL1, Class B, 1.801% (1-Month USD-LIBOR + 1.700%) due 5/15/37(a)(b)   191,942 
 149,720   Arivo Acceptance Auto Loan Receivables Trust, Series 2019-1, Class A, 2.990% due 7/15/24(a)   151,455 
 500,000   Bain Capital Credit CLO, Series 2019-1A, Class AR, zero coupon, (3-Month USD-LIBOR + 1.130%) due 4/19/34(a)(b)   499,873 
 367,378   Bayview Opportunity Master Fund IVa Trust, Series 2019-SBR1, Class A1, step bond to yield, 3.475% due 6/28/34(a)   369,453 
     BSPRT Issuer Ltd.:     
 352,000   Series 2019-FL5, Class A, 1.251% (1-Month USD-LIBOR + 1.150%) due 5/15/29(a)(b)   351,790 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Low Duration Fixed Income Fund (continued)

 

Face
Amount/Units†
   Security  Value 
ASSET-BACKED SECURITIES - 5.3% (continued)     
$193,000   Series 2021-FL6, Class A, 1.201% (1-Month USD-LIBOR + 1.100%) due 3/15/36(a)(b)  $193,000 
 471,667   CAL Funding IV Ltd., Series 2020-1A, Class A, 2.220% due 9/25/45(a)   477,464 
 991,833   Carlyle Global Market Strategies CLO Ltd., Series 2014-3RA, Class A1A, 1.231% (3-Month USD-LIBOR + 1.050%) due 7/27/31(a)(b)   992,344 
 500,000   Catamaran CLO Ltd., Series 2018-1A, Class A1, 1.426% (3-Month USD-LIBOR + 1.250%) due 10/25/31(a)(b)   500,058 
 100,000   CHCP Ltd., Series 2021-FL1, Class AS, 1.401% (1-Month USD-LIBOR + 1.300%) due 2/15/38(a)(b)   100,062 
 177,000   CLNC Ltd., Series 2019-FL1, Class AS, 1.648% (1-Month USD-LIBOR + 1.550%) due 8/20/35(a)(b)   175,924 
 303,374   Commonbond Student Loan Trust, Series 2020-AGS, Class A, 1.980% due 8/25/50(a)   308,115 
 83,379   DT Auto Owner Trust, Series 2020-2A, Class A, 1.140% due 1/16/24(a)   83,671 
 60,991   Earnest Student Loan Program LLC, Series 2017-A, Class A2, 2.650% due 1/25/41(a)   61,281 
 700,000   Exeter Automobile Receivables Trust, Series 2021-1A, Class C, 0.740% due 1/15/26   700,219 
     Freed ABS Trust:     
 167,127   Series 2019-2, Class A, 2.620% due 11/18/26(a)   167,551 
 121,671   Series 2020-FP1, Class A, 2.520% due 3/18/27(a)   122,383 
 200,000   FS RIALTO, Series 2021-FL2, Class A, 1.401% (1-Month USD-LIBOR + 1.300%) due 4/16/28(a)(b)   200,062 
 500,000   Galaxy XV CLO Ltd., Series 2013-15A, Class AR, 1.384% (3-Month USD-LIBOR + 1.200%) due 10/15/30(a)(b)   500,139 
 500,000   Galaxy XXVII CLO Ltd., Series 2018-27A, Class A, 1.176% (3-Month USD-LIBOR + 1.020%) due 5/16/31(a)(b)   500,164 
 66,955   Genesis Private Label Amortizing Trust, Series 2020-1, Class A, 2.080% due 7/20/30(a)   67,016 
 250,000   Genesis Sales Finance Master Trust, Series 2020-AA, Class A, 1.650% due 9/22/25(a)   252,045 
 15,823   GLS Auto Receivables Issuer Trust, Series 2019-2A, Class A, 3.060% due 4/17/23(a)   15,848 
 500,000   Greywolf CLO V Ltd., Series 2015-1A, Class A1R, 1.336% (3-Month USD-LIBOR + 1.160%) due 1/27/31(a)(b)   500,458 
 1,000,000   Greywolf CLO VII Ltd., Series 2018-2A, Class A1, 1.368% (3-Month USD-LIBOR + 1.180%) due 10/20/31(a)(b)   999,998 
 1,000,000   Gulf Stream Meridian 3 Ltd., Series 2021-IIIA, Class A1, 1.481% (3-Month USD-LIBOR + 1.320%) due 4/15/34(a)(b)   1,000,368 
 500,000   Hayfin US XII Ltd., Series 2018-8A, Class A, 1.308% (3-Month USD-LIBOR + 1.120%) due 4/20/31(a)(b)   499,782 
 200,000   HGI CRE CLO Ltd., Series 2021-FL1, Class A, 1.160% (1-Month USD-LIBOR + 1.050%) due 6/16/36(a)(b)(d)   200,125 
 365,368   Hilton Grand Vacations Trust, Series 2020-AA, Class A, 2.740% due 2/25/39(a)   380,536 
     Hunt CRE Ltd.:     
 101,528   Series 2017-FL1, Class A, 1.101% (1-Month USD-LIBOR + 1.000%) due 8/15/34(a)(b)   101,528 
 200,000   Series 2018-FL2, Class A, 1.181% (1-Month USD-LIBOR + 1.080%) due 8/15/28(a)(b)   199,881 
     Invitation Homes Trust:     
 178,609   Series 2017-SFR2, Class A, 0.951% (1-Month USD-LIBOR + 0.850%) due 12/17/36(a)(b)   178,929 
 172,474   Series 2018-SFR1, Class A, 0.801% (1-Month USD-LIBOR + 0.700%) due 3/17/37(a)(b)   172,635 
 54,634   Laurel Road Prime Student Loan Trust, Series 2019-A, Class A1FX, 2.340% due 10/25/48(a)   55,556 
 173,000   LMREC Inc., Series 2019-CRE3, Class A, 1.493% (1-Month USD-LIBOR + 1.400%) due 12/22/35(a)(b)   173,001 
 173,000   LoanCore Issuer Ltd., Series 2019-CRE2, Class A, 1.231% (1-Month USD-LIBOR + 1.130%) due 5/15/36(a)(b)   172,948 
 500,000   Madison Park Funding XXXIV Ltd., Series 2019-34A, Class AR, 1.296% (3-Month USD-LIBOR + 1.120%) due 4/25/32(a)(b)   500,090 
     Marlette Funding Trust:     
 53,402   Series 2019-2A, Class A, 3.130% due 7/16/29(a)   53,624 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Low Duration Fixed Income Fund (continued)

 

Face
Amount/Units†
   Security  Value 
ASSET-BACKED SECURITIES - 5.3% (continued)
$186,000   Series 2019-4A, Class C, 3.760% due 12/17/29(a)  $192,879 
 156,554   Navient Private Education Refi Loan Trust, Series 2020-GA, Class A, 1.170% due 9/16/69(a)   157,479 
 341,000   NLY Commercial Mortgage Trust, Series 2019-FL2, Class AS, 1.701% (1-Month USD-LIBOR + 1.600%) due 2/15/36(a)(b)   340,796 
 988,761   Northwoods Capital XVI Ltd., Series 2017-16A, Class A, 1.426% (3-Month USD-LIBOR + 1.270%) due 11/15/30(a)(b)   989,047 
 982,916   Ocean Trails CLO V, Series 2014-5A, Class ARR, 1.468% (3-Month USD-LIBOR + 1.280%) due 10/13/31(a)(b)   982,974 
 250,000   OCP CLO Ltd., Series 2014-5A, Class A1R, 1.256% (3-Month USD-LIBOR + 1.080%) due 4/26/31(a)(b)   250,286 
     Pagaya AI Debt Selection Trust:     
 196,986   Series 2020-3, Class A, 2.100% due 5/17/27(a)   198,421 
 380,000   Series 2021-1, Class A, 1.180% due 11/15/27(a)   380,742 
 350,000   Sofi Consumer Loan Program Trust, Series 2018-2, Class C, 4.250% due 4/26/27(a)   361,985 
 1,000,000   Sound Point CLO VI-R Ltd., Series 2014-2RA, Class A, 1.438% (3-Month USD-LIBOR + 1.250%) due 10/20/31(a)(b)   1,000,096 
 500,000   Sound Point CLO XVIII Ltd., Series 2017-4A, Class A1, 1.308% (3-Month USD-LIBOR + 1.120%) due 1/21/31(a)(b)   499,877 
 1,000,000   Steele Creek CLO Ltd., Series 2018-2A, Class A, 1.355% (3-Month USD-LIBOR + 1.200%) due 8/18/31(a)(b)   1,000,404 
 200,000   STWD Ltd., Series 2021-FL2, Class A, 1.309% (1-Month USD-LIBOR + 1.200%) due 4/18/38(a)(b)   200,188 
 18,386   Tesla Auto Lease Trust, Series 2018-B, Class A, 3.710% due 8/20/21(a)   18,427 
 150,000   Theorem Funding Trust, Series 2020-1A, Class B, 3.950% due 10/15/26(a)   154,582 
 484,924   THL Credit Wind River CLO Ltd., Series 2013-2A, Class AR, 1.420% (3-Month USD-LIBOR + 1.230%) due 10/18/30(a)(b)   484,948 
 1,000,000   Trimaran Cavu Ltd., Series 2019-1A, Class A1, 1.648% (3-Month USD-LIBOR + 1.460%) due 7/20/32(a)(b)   1,005,689 
 200,000   TRTX Issuer Ltd., Series 2021-FL4, Class A, 1.301% (1-Month USD-LIBOR + 1.200%) due 3/15/38(a)(b)   199,875 
 525,854   Upstart Securitization Trust, Series 2020-3, Class A, 1.702% due 11/20/30(a)   529,900 
 500,000   Vibrant ClO VIII Ltd., Series 2018-8A, Class A1A, 1.328% (3-Month USD-LIBOR + 1.140%) due 1/20/31(a)(b)   499,701 
 500,000   Wellfleet CLO X Ltd., Series 2019-XA, Class A1R, 1.344% (3-Month USD-LIBOR + 1.170%) due 7/20/32(a)(b)   500,151 
 423,910   Wind River CLO Ltd., Series 2013-1A, Class A1R, 1.438% (3-Month USD-LIBOR + 1.250%) due 7/20/30(a)(b)   423,982 
     TOTAL ASSET-BACKED SECURITIES
(Cost - $26,279,220)
   26,401,800 
COLLATERALIZED MORTGAGE OBLIGATIONS - 5.1%
 535,012   Angel Oak Mortgage Trust, Series 2020-6, Class A1, 1.261% due 5/25/65(a)(b)   536,958 
 200,000   Bancorp Commercial Mortgage Trust, Series 2019-CRE5, Class B, 1.601% (1-Month USD-LIBOR + 1.500%) due 3/15/36(a)(b)   199,874 
     BANK:     
 1,515,998   Series 2017-BNK4, Class XA, 1.392% due 5/15/50(b)(g)   89,045 
 1,823,938   Series 2017-BNK6, Class XA, 0.814% due 7/15/60(b)(g)   68,271 
     BBCMS Mortgage Trust:     
 192,000   Series 2017-DELC, Class B, 1.131% (1-Month USD-LIBOR + 1.030%) due 8/15/36(a)(b)   191,939 
 240,000   Series 2018-TALL, Class B, 1.072% (1-Month USD-LIBOR + 0.971%) due 3/15/37(a)(b)   235,787 
 200,000   Series 2019-BWAY, Class A, 1.057% (1-Month USD-LIBOR + 0.956%) due 11/15/34(a)(b)   199,419 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Low Duration Fixed Income Fund (continued)

 

Face
Amount/Units†
  Security     Value  
COLLATERALIZED MORTGAGE OBLIGATIONS - 5.1% (continued)  
$   1,489,326     Series 2021-C9, Class XA, 1.646% due 2/15/54(b)(g)   $ 187,273  
  75,000     BHMS, Series 2018-ATLS, Class A, 1.351% (1-Month USD-LIBOR + 1.250%) due 7/15/35(a)(b)     74,999  
  765,230     BRAVO Residential Funding Trust, Series 2021-A, Class A1, step bond to yield, 1.991% due 12/31/49(a)     766,759  
        BXMT Ltd.:        
  192,000     Series 2020-FL2, Class C, 1.751% (1-Month USD-LIBOR + 1.650%) due 2/15/38(a)(b)     191,292  
  193,000     Series 2021-FL4, Class A, 1.151% (1-Month USD-LIBOR + 1.050%) due 5/15/38(a)(b)     193,000  
  1,653,529     CD Mortgage Trust, Series 2017-CD4, Class XA, 1.285% due 5/10/50(b)(g)     87,614  
        CFCRE Commercial Mortgage Trust:        
  1,318,980     Series 2017-C8, Class XA, 1.590% due 6/15/50(b)(g)     87,514  
  287,000     Series 2017-C8, Class XB, 0.945% due 6/15/50(b)(g)     14,471  
        Citigroup Commercial Mortgage Trust:        
  178,000     Series 2018-TBR, Class B, 1.251% (1-Month USD-LIBOR + 1.150%) due 12/15/36(a)(b)     177,444  
  386,000     Series 2019-PRM, Class D, 4.350% due 5/10/36(a)     402,135  
  395,056     COLT Mortgage Loan Trust, Series 2020-2, Class A1, 1.853% due 3/25/65(a)(b)     398,057  
  363,713     COLT Mortgage Pass-Through Certificates, Series 2021-1R, Class A1, 0.857% due 5/25/65(a)(b)     363,420  
        Commercial Mortgage Trust:        
  17,207,957     Series 2013-CR9, Class XA, 0.067% due 7/10/45(b)(g)     16,267  
  1,483,693     Series 2013-LC6, Class XA, 1.314% due 1/10/46(b)(g)     22,302  
  24,997     Series 2014-CR15, Class A2, 2.928% due 2/10/47     24,930  
  320,392     Series 2014-FL5, Class C, 2.251% (1-Month USD-LIBOR + 2.150%) due 10/15/31(a)(b)     312,382  
  344,000     Series 2014-FL5, Class D, 4.101% (1-Month USD-LIBOR + 4.000%) due 10/15/31(a)(b)     330,240  
  227,000     Series 2018-HCLV, Class A, 1.101% (1-Month USD-LIBOR + 1.000%) due 9/15/33(a)(b)     225,858  
        Credit Suisse Commercial Mortgage Capital Trust:        
  70,000     Series 2017-CHOP, Class D, 2.001% (1-Month USD-LIBOR + 1.900%) due 7/15/32(a)(b)     67,527  
  573,000     Series 2017-CHOP, Class E, 3.401% (1-Month USD-LIBOR + 3.300%) due 7/15/32(a)(b)     534,171  
  333,643     Series 2020-BPL1, Class A1, step bond to yield, 3.393% due 2/25/24(a)     334,448  
  634,460     Series 2020-RPL3, Class A1, 2.691% due 3/25/60(a)(b)     642,863  
  344,000     Credit Suisse Commercial Mortgage Securities Corp., Series 2019-SKLZ, Class A, 1.351% (1-Month USD-LIBOR + 1.250%) due 1/15/34(a)(b)     345,227  
        CSAIL Commercial Mortgage Trust:        
  808,388     Series 2017-C8, Class XA, 1.222% due 6/15/50(b)(g)     35,668  
  4,767,697     Series 2017-CX10, Class XA, 0.713% due 11/15/50(b)(g)     171,403  
  3,483,087     Series 2018-CX12, Class XA, 0.603% due 8/15/51(b)(g)     123,140  
  182,000     DBGS Mortgage Trust, Series 2018-5BP, Class D, 1.451% (1-Month USD-LIBOR + 1.350%) due 6/15/33(a)(b)     181,302  
  200,000     DBJPM Mortgage Trust, Series 2016-C3, Class A5, 2.890% due 8/10/49     214,454  
        Deephaven Residential Mortgage Trust:        
  18,069     Series 2017-1A, Class A1, 2.725% due 12/26/46(a)(b)     18,063  
  18,281     Series 2017-1A, Class A2, 2.928% due 12/26/46(a)(b)     18,273  
  328,688     Federal Home Loan Mortgage Corp. (FHLMC), REMICS, Series 4911, Class MB, 3.000% due 9/25/49     344,368  
        Federal National Mortgage Association, Aces:        
  1,194,960     Series 2020-M49, Class 1A1, 1.256% due 11/25/30(b)     1,198,530  
  697,670     Series 2021-M5, Class A1, 1.461% due 1/25/33(b)     708,199  

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Low Duration Fixed Income Fund (continued)

 

Face
Amount/Units†
  Security     Value  
COLLATERALIZED MORTGAGE OBLIGATIONS - 5.1% (continued)  
$ 1,094,670     Series 2021-M6, Class A1, 1.482% due 3/25/33(b)   $ 1,111,861  
  299,256     Series 2021-M7, Class A1, 1.718% due 3/25/31(b)     307,631  
  239,000     GB Trust, Series 2020-FLIX, Class D, 2.451% (1-Month USD-LIBOR + 2.350%) due 8/15/37(a)(b)     239,964  
  403,879     GCAT LLC, Series 2019-NQM1, Class A1, step bond to yield, 2.985% due 2/25/59(a)     405,850  
  361,000     GS Mortgage Securities Corp. Trust, Series 2012-ALOH, Class A, 3.551% due 4/10/34(a)     366,008  
        GS Mortgage Securities Trust:        
  4,501,538     Series 2016-GS4, Class XA, 0.501% due 11/10/49(b)(g)     105,605  
  1,750,734     Series 2017-GS6, Class XA, 1.031% due 5/10/50(b)(g)     94,771  
  3,588,770     Series 2017-GS8, Class XA, 0.970% due 11/10/50(b)(g)     167,845  
        JP Morgan Chase Commercial Mortgage Securities Trust:        
  1,973,158     Series 2014-C20, Class XA, 0.935% due 7/15/47(b)(g)     34,356  
  4,075,000     Series 2020-MKST, Class XCP, 2.628% due 12/15/36(a)(b)(g)     57,977  
        JPMBB Commercial Mortgage Securities Trust:        
  1,016,736     Series 2015-C32, Class XA, 1.210% due 11/15/48(b)(g)     31,274  
  200,000     Series 2016-C1, Class A5, 3.576% due 3/15/49     220,220  
        Legacy Mortgage Asset Trust:        
  435,677     Series 2020-GS4, Class A1, step bond to yield, 3.250% due 2/25/60(a)     440,838  
  893,498     Series 2021-SL1, Class A, 1.991% due 12/31/49(a)(b)(d)     905,907  
  159,300     LoanCore Issuer Ltd., Series 2019-CRE3, Class AS, 1.471% (1-Month USD-LIBOR + 1.370%) due 4/15/34(a)(b)     158,712  
        MF1 Ltd.:        
  158,073     Series 2019-FL2, Class A, 1.222% (1-Month USD-LIBOR + 1.130%) due 12/25/34(a)(b)     158,073  
  225,000     Series 2020-FL3, Class A, 2.151% (1-Month USD-LIBOR + 2.050%) due 7/15/35(a)(b)     227,286  
        Morgan Stanley Capital I Trust:        
  1,370,607     Series 2016-UB11, Class XA, 1.498% due 8/15/49(b)(g)     77,904  
  4,018,282     Series 2016-UB12, Class XA, 0.739% due 12/15/49(b)(g)     114,006  
  76,000     Series 2017-ASHF, Class D, 2.301% (1-Month USD-LIBOR + 2.200%) due 11/15/34(a)(b)     75,429  
  909,309     Series 2017-H1, Class XA, 1.351% due 6/15/50(b)(g)     53,555  
        Natixis Commercial Mortgage Securities Trust:        
  350,000     Series 2018-850T, Class C, 1.254% (1-Month USD-LIBOR + 1.154%) due 7/15/33(a)(b)     340,130  
  350,000     Series 2018-850T, Class D, 1.554% (1-Month USD-LIBOR + 1.454%) due 7/15/33(a)(b)     337,155  
        New Residential Mortgage Loan Trust:        
  421,904     Series 2020-NQM1, Class A2, 2.718% due 1/26/60(a)(b)     428,269  
  694,314     Series 2020-RPL2, Class A1, 3.578% due 8/25/25(a)(b)     707,878  
  539,970     NYMT Loan Trust, Series 2020-SP2, Class A1, 2.944% due 10/25/60(a)(b)     542,914  
  144,218     PFP Ltd., Series 2019-6, Class A, 1.148% (1-Month USD-LIBOR + 1.050%) due 4/14/37(a)(b)     143,314  
  940,556     PRPM, Series 2019-GS1, Class A1, 3.500% due 10/25/24(a)(b)     947,098  
        PRPM LLC:        
  603,495     Series 2020-3, Class A1, step bond to yield, 2.857% due 9/25/25(a)     607,211  
  693,820     Series 2021-4, Class A1, step bond to yield, 1.867% due 4/25/26(a)     694,256  
  299,200     Shelter Growth CRE Issuer Ltd., Series 2019-FL2, Class B, 1.901% (1-Month USD-LIBOR + 1.800%) due 5/15/36(a)(b)     296,049  
  159,932     SLIDE, Series 2018-FUN, Class A, 1.001% (1-Month USD-LIBOR + 0.900%) due 6/15/31(a)(b)     159,975  
  147,435     Tharaldson Hotel Portfolio Trust, Series 2018-THL, Class B, 1.356% (1-Month USD-LIBOR + 1.250%) due 11/11/34(a)(b)     146,878  
        UBS Commercial Mortgage Trust:        
  1,640,632     Series 2012-C1, Class XA, 2.052% due 5/10/45(a)(b)(g)     12,313  

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Low Duration Fixed Income Fund (continued)

 

Face
Amount/Units†
  Security     Value  
COLLATERALIZED MORTGAGE OBLIGATIONS - 5.1% (continued)  
$   1,000,354     Series 2017-C1, Class XA, 1.522% due 6/15/50(b)(g)   $ 69,310  
  386,000     Series 2018-NYCH, Class D, 2.201% (1-Month USD-LIBOR + 2.100%) due 2/15/32(a)(b)     372,461  
        Verus Securitization Trust:        
  1,139,047     Series 2019-INV2, Class A3, 3.219% due 7/25/59(a)(b)     1,159,229  
  222,195     Series 2020-2, Class A1, 2.226% due 5/25/60(a)(b)     224,316  
  771,927     Series 2021-R1, Class A2, 1.057% due 10/25/63(a)(b)     769,594  
  316,883     Vista Point Securitization Trust, Series 2020-2, Class A1, 1.475% due 4/25/65(a)(b)     318,530  
  433,611     VOLT XCIV LLC, Series 2021-NPL3, Class A1, step bond to yield, 2.240% due 2/27/51(a)(d)     434,367  
  909,879     VOLT XCIX LLC, Series 2021-NPL8, Class A1, step bond to yield, 2.116% due 4/25/51(a)     910,734  
        Wells Fargo Commercial Mortgage Trust:        
  2,436,899     Series 2015-LC22, Class XA, 0.771% due 9/15/58(b)(g)     68,234  
  4,916,175     Series 2015-NXS2, Class XA, 0.662% due 7/15/58(b)(g)     114,632  
  90,902     Series 2021-SAVE, Class A, 1.251% (1-Month USD-LIBOR + 1.150%) due 2/15/40(a)(b)     91,184  
  90,902     Series 2021-SAVE, Class B, 1.551% (1-Month USD-LIBOR + 1.450%) due 2/15/40(a)(b)     91,127  
        TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS        
        (Cost - $27,458,031)     25,677,116  
  Rating††           
MUNICIPAL BONDS - 0.8%  
Puerto Rico - 0.8%  
        Puerto Rico Highway & Transportation Authority,:        
1,900,000   C(h) zero coupon, due 7/1/22     1,762,250  
2,820,000   C(h) zero coupon, due 7/1/23     2,446,350  
        Total Puerto Rico     4,208,600  
        TOTAL MUNICIPAL BONDS        
        (Cost - $4,195,758)     4,208,600  
SOVEREIGN BONDS - 0.5%  
Brazil - 0.0%  
200,000     Brazilian Government International Bond, 2.875% due 6/6/25     205,958  
Colombia - 0.0%  
200,000     Colombia Government International Bond, 2.625% due 3/15/23     204,440  
Indonesia - 0.1%  
200,000     Indonesia Government International Bond, 3.375% due 4/15/23     210,356  
300,000     Perusahaan Penerbit SBSN Indonesia III, 3.300% due 11/21/22     312,033  
        Total Indonesia     522,389  
Panama - 0.1%  
200,000     Panama Government International Bond, 3.750% due 3/16/25     217,502  
Peru - 0.1%  
250,000     Peruvian Government International Bond, 2.392% due 1/23/26     257,472  
Qatar - 0.0%  
200,000     Qatar Government International Bond, 2.375% due 6/2/21     200,020  
Saudi Arabia - 0.1%  
250,000     Saudi Government International Bond, 2.875% due 3/4/23     259,750  
South Korea - 0.1%  
250,000     Korea Development Bank, 1.000% due 9/9/26     248,876  
200,000     Korea Electric Power Corp., 1.125% due 6/15/25     199,589  
        Total South Korea     448,465  

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Low Duration Fixed Income Fund (continued)

 

Face
Amount/Units†
  Security     Value  
SOVEREIGN BONDS - (continued)  
United Arab Emirates - 0.0%  
$ 200,000     Abu Dhabi Government International Bond, 2.500% due 4/16/25(a)   $ 212,000  
        TOTAL SOVEREIGN BONDS        
        (Cost - $2,504,830)     2,527,996  
U.S. GOVERNMENT OBLIGATIONS - 0.4%  
        U.S. Treasury Notes:        
  1,130,000     0.375% due 3/31/22     1,132,869  
  1,000,000     0.375% due 4/15/24     1,002,500  
        TOTAL U.S. GOVERNMENT OBLIGATIONS        
        (Cost - $2,134,300)     2,135,369  
MORTGAGE-BACKED SECURITIES - 0.4%  
FHLMC - 0.2%  
964,779     Freddie Mac Pool, 1.500% due 2/1/36     977,366  
FNMA - 0.2%  
960,000     Federal National Mortgage Association (FNMA), 2.000% due 1/1/36     992,710  
        TOTAL MORTGAGE-BACKED SECURITIES        
        (Cost - $1,994,031)     1,970,076  

 

Shares/Units          
COMMON STOCKS - 7.7%  
BASIC MATERIALS - 0.1%  
Forest Products & Paper - 0.1%  
  20,309     Appvion Inc.*(d)     262,392  
DIVERSIFIED - 7.4%  
SPACs - 7.4%  
  21,948     26 Capital Acquisition Corp., Class A Shares*     212,237  
  1     7GC & Co. Holdings Inc., Class A Shares*     10  
  23,979     Adit EdTech Acquisition Corp.*     231,637  
  5     Aequi Acquisition Corp., Class A Shares*     48  
  23,979     Alkuri Global Acquisition Corp., Class A Shares*     235,474  
  9,681     Alpha Capital Acquisition Co., Class A Shares*     93,518  
  38,728     Anzu Special Acquisition Corp. I*     383,407  
  31,583     Ares Acquisition Corp.*(i)     316,462  
  27,530     Arrowroot Acquisition Corp., Class A Shares*     265,664  
  25,628     Athena Technology Acquisition Corp.*     254,486  
  23,979     Athlon Acquisition Corp., Class A Shares*     230,678  
  177,273     Atlantic Avenue Acquisition Corp., Class A Shares*     1,719,548  
  3     Atlantic Coastal Acquisition Corp., Class A Shares*     30  
  23,979     Authentic Equity Acquisition Corp., Class A Shares*     231,877  
  137,418     BGP Acquisition Corp., Class A Shares*(d)(e)     1,298,600  
  23,979     Bite Acquisition Corp.*     230,918  
  1     BOA Acquisition Corp., Class A Shares*     10  
  4,140     Bright Lights Acquisition Corp., Class A Shares*     40,282  
  78,591     Cartesian Growth Corp.*     780,409  
  10,575     Cascade Acquisition Corp., Class A Shares*     104,058  
  133,246     Cerberus Telecom Acquisition Corp., Class A Shares*(i)     1,315,138  
  41,903     CF Acquisition Corp. IV, Class A Shares*(i)     406,040  
  46,444     CF Acquisition Corp. VI*     462,582  
  43,373     Clarim Acquisition Corp.*     428,959  
  3,315     Clarim Acquisition Corp., Class A Shares*     32,122  
  31,129     Cohn Robbins Holdings Corp., Class A Shares*     305,687  
  23,979     COVA Acquisition Corp., Class A Shares*     232,356  

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Low Duration Fixed Income Fund (continued)

 

Shares/Units     Security Value  
COMMON STOCKS - (continued)  
DIVERSIFIED - 7.4% - (continued)  
SPACs - 7.4% - (continued)  
  500     Crown PropTech Acquisitions, Class A Shares*   $ 4,844  
  7,704     DHB Capital Corp.*     76,732  
  3,300     DHC Acquisition Corp., Class A Shares*     31,746  
  63,566     Disruptive Acquisition Corp. I*     635,024  
  5     Edify Acquisition Corp., Class A Shares*     48  
  51,531     EJF Acquisition Corp.*     512,218  
  18,589     Empowerment & Inclusion Capital I Corp.*     183,845  
  23,979     Empowerment & Inclusion Capital I Corp., Class A Shares*     232,356  
  1,900     Environmental Impact Acquisition Corp., Class A Shares*     18,468  
  1,460     Epiphany Technology Acquisition Corp., Class A Shares*     14,118  
  23,979     EQ Health Acquisition Corp., Class A Shares*(d)     233,076  
  59,814     Equity Distribution Acquisition Corp., Class A Shares*     586,177  
  1,790     Executive Network Partnering Corp., Class A Shares*     17,399  
  23,979     Fintech Evolution Acquisition Group, Class A Shares*     232,596  
  224     Foresight Acquisition Corp., Class A Shares*     2,222  
  58,605     Forum Merger IV Corp.*     581,948  
  61,115     GigCapital4 Inc.*     610,992  
  29,178     Global Partner Acquisition Corp. II*     289,154  
  3,000     Goal Acquisitions Corp.*     28,890  
  90,017     Golden Falcon Acquisition Corp., Class A Shares*     868,664  
  58,742     Gores Guggenheim Inc.*     583,308  
  6,100     Graf Acquisition Corp. IV*     61,000  
  61,193     Hamilton Lane Alliance Holdings I Inc., Class A Shares*     595,408  
  504     Healthcare Capital Corp., Class A Shares*     4,859  
  23,979     Healthcare Services Acquisition Corp., Class A Shares*     231,397  
  364     HH&L Acquisition Co., Class A Shares*     3,545  
  23,979     Ignyte Acquisition Corp.*     231,637  
  51,527     Isleworth Healthcare Acquisition Corp.*     501,358  
  23,979     Itiquira Acquisition Corp., Class A Shares*     230,198  
  23,979     Jack Creek Investment Corp., Class A Shares*     230,678  
  965     Kismet Acquisition Two Corp., Class A Shares*     9,322  
  26,649     Marlin Technology Corp., Class A Shares*     264,625  
  468,448     Mason Industrial Technology Inc., Class A Shares*     4,525,208  
  14,797     Noble Rock Acquisition Corp.*     147,082  
  23,979     North Atlantic Acquisition Corp., Class A Shares*     230,678  
  52,110     Oaktree Acquisition Corp. II, Class A Shares*     509,115  
  120,600     Omnichannel Acquisition Corp., Class A Shares*     1,180,674  
  43,737     One Equity Partners Open Water I Corp., Class A Shares*     421,625  
  23,979     Oyster Enterprises Acquisition Corp., Class A Shares*     231,637  
  39,200     Peridot Acquisition Corp. II*     391,216  
  4,417     Pontem Corp.*     44,082  
  12,783     PWP Forward Acquisition Corp. I*     126,552  
  49,915     RMG Acquisition Corp. III*     488,169  
  11,305     RXR Acquisition Corp.*     113,050  
  2,220     SCP & CO Healthcare Acquisition Co., Class A Shares*     21,467  
  38,349     Seven Oaks Acquisition Corp., Class A Shares*(i)     374,670  
  23,979     Silver Crest Acquisition Corp., Class A Shares*     231,158  
  112,363     Skydeck Acquisition Corp.*     1,118,012  
  47,645     Starboard Value Acquisition Corp., Class A Shares*(i)     472,162  
  126,892     Stratim Cloud Acquisition Corp.*     1,262,575  
  4,799     Supernova Partners Acquisition Co. III Ltd.*     47,990  
  65,340     Tailwind International Acquisition Corp., Class A Shares*     633,798  
  63,698     Tailwind Two Acquisition Corp., Class A Shares*(d)     620,419  
  25,622     Tech & Energy Transition Corp.*     256,220  

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Low Duration Fixed Income Fund (continued)

 

Shares/Units     Security Value  
COMMON STOCKS - (continued)  
DIVERSIFIED - 7.4% - (continued)  
SPACs - 7.4% - (continued)  
  115,315     Tekkorp Digital Acquisition Corp., Class A Shares*   $ 1,126,628  
  12,881     Thimble Point Acquisition Corp., Class A Shares*     125,203  
  85,905     Tishman Speyer Innovation Corp. II*     859,050  
  2,500     TLG Acquisition One Corp., Class A Shares*     24,175  
  1     Tuatara Capital Acquisition Corp., Class A Shares*     10  
  319,748     Vector Acquisition Corp. II, Class A Shares*     3,152,715  
  72     Virtuoso Acquisition Corp., Class A Shares*     706  
  22,732     Z-Work Acquisition Corp.*     225,956  
        Total SPACs     36,882,091  
        TOTAL DIVERSIFIED     36,882,091  
ENERGY - 0.0%  
Oil & Gas Services - 0.0%  
  3,121     Superior Energy Services Inc.*(d)(e)     106,114  
FINANCIAL - 0.2%  
Diversified Financial Services - 0.2%  
  66,302     OceanTech Acquisitions I Corp.*     661,694  
        TOTAL COMMON STOCKS        
        (Cost - $37,645,421)     37,912,291  
EXCHANGE TRADED FUND (ETF) - 5.0%  
  490,565     iShares Core 1-5 Year USD Bond(i)        
        (Cost - $24,978,839)     25,224,852  
PREFERRED STOCK - 0.7%  
FINANCIAL - 0.7%  
Equity Real Estate Investment Trusts (REITs) - 0.7%  
  142,531     Gladstone Land Corp., 5.000%        
        (Cost - $3,563,275)     3,654,495  
WARRANTS - 0.0%  
DIVERSIFIED - 0.0%  
SPACs - 0.0%  
  68,709     BGP Acquisition Corp.*(d)     56,341  
  14,495     Hamilton Lane Alliance Holdings I Inc.*(d)     9,858  
  25,763     Isleworth Healthcare Acquisition Corp.*(d)     16,231  
  154,774     Mason Industrial Technology Inc.*(d)     123,819  
  14,479     One Equity Partners Open Water I Corp.*(d)     10,716  
  9,983     RMG Acquisition Corp. III*     8,686  
  21,780     Tailwind International Acquisition Corp.*(d)     14,595  
  21,232     Tailwind Two Acquisition Corp.*(d)     15,075  
        Total SPACs     255,321  
        TOTAL DIVERSIFIED     255,321  
        TOTAL WARRANTS        
        (Cost - $234,565)     255,321  
        TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS        
        (Cost - $466,997,079)     467,472,143  

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Low Duration Fixed Income Fund (continued)

 

Face
Amount
    Security     Value  
SHORT-TERM INVESTMENTS - 13.9%  
TIME DEPOSITS - 13.9%  
$   6,132,086     Banco Bilbao Vizcaya Argentaria SA – Madrid, 0.005% due 6/1/21   $ 6,132,086   
60,425,847     Banco Santander SA - Frankfurt, 0.005% due 6/1/21     60,425,847   
3,323,569     BNP Paribas - Paris, 0.005% due 6/1/21     3,323,569   
        TOTAL TIME DEPOSITS        
        (Cost - $69,881,502)     69,881,502   

 

  Shares/Units            
INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING - 0.3%        
MONEY MARKET FUND - 0.3%  
  1,371,335      Federated Government Obligations Fund, Premier Class, 0.025%(j)        
        (Cost - $1,371,335)     1,371,335   
        TOTAL INVESTMENTS - 107.4%        
        (Cost - $538,249,916)     538,724,980   
        Liabilities in Excess of Other Assets - (7.4)%     (37,421,244 )
        TOTAL NET ASSETS - 100.0%   $ 501,303,736   

 

Face amount denominated in U.S. dollars, unless otherwise noted.
†† All ratings are by Standard & Poor’s Rating Service, unless otherwise noted.
# May 28, 2021 represents the last business day of the Fund’s fiscal first quarter.
* Non-income producing security.
(a) Restricted security that may be sold to “qualified institutional buyers” pursuant to the conditions of Rule 144A under the Securities Act of 1933, as amended. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees, unless otherwise noted. The aggregate value of restricted 144A holdings at May 28, 2021, amounts to approximately $163,767,882 and represents 32.67% of net assets.
(b) Variable rate security. Interest rate disclosed is that which was in effect at May 28, 2021.
(c) Security is currently in default.
(d) Illiquid security. The aggregate value of illiquid holdings at May 28, 2021, amounts to $42,850,775 and represents 8.55% of net assets.
(e) Security is valued in good faith at fair value by or under the direction of the Board of Trustees using significant unobservable inputs.
(f) This position represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate.
(g) Interest only security.
(h) Rating by Moody's Investors Service.
(i) All or a portion of this security is on loan.
(j) Represents investment of collateral received from securities lending transactions.

 

Abbreviations used in this schedule:
ABS Asset-Based Security
CLO Collateralized Loan Obligation
CMT Constant Maturity Treasury Index
EURIBOR Euro Interbank Offered Rate
LIBOR London Interbank Offered Rate
LLC Limited Liability Company
LP Limited Partnership
PLC Public Limited Company
SOFR Secured Overnight Financing Rate
REMICS Real Estate Mortgage Investment Conduit
SPACs Special Purpose Acquisition Companies
STIBOR Stockholm Interbank Offered Rate

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Low Duration Fixed Income Fund (concluded)

 

Summary of Investments by Security Type^
Corporate Bonds & Notes   47.0%
Senior Loans   15.6 
Common Stocks   7.0 
Asset-Backed Securities   4.9 
Collateralized Mortgage Obligations   4.8 
Exchange Traded Fund (ETF)   4.7 
Municipal Bonds   0.8 
Preferred Stock   0.7 
Sovereign Bonds   0.5 
U.S. Government Agencies & Obligations   0.4 
Mortgage-Backed Securities   0.4 
Warrants   0.0*
Short-Term Investments   13.0 
Money Market Fund   0.2 
    100.0%

 

 

^ As a percentage of total investments.
* Position represents less than 0.05%.

 

At May 28, 2021, Destinations Low Duration Fixed Income Fund had open forward foreign currency contracts as described below.

 

The unrealized appreciation/(depreciation) on the open contracts were as follows:    

 

Foreign Currency  Local Currency   Counterparty   Market
Value
   Settlement
Date
  Unrealized
Appreciation
   Unrealized
(Depreciation)
   Unrealized
Appreciation/
(Depreciation)
 
Contracts to Buy:                                 
Euro   284,000    BBH   $346,423   6/15/21  $   $(1,482)  $(1,482)
Norwegian Krone   5,130,000    BBH    613,635   6/15/21   253        253 
                     $253   $(1,482)  $(1,229)
                                  
Contracts to Sell:                                 
Euro   23,500,000    BBH    28,665,248   6/15/21  $   $(68,568)  $(68,568)
Norwegian Krone   10,219,000    BBH    1,222,365   6/15/21   17,175        17,175 
Swedish Krona   29,890,000    BBH    3,599,798   6/15/21       (7,901)   (7,901)
Swedish Krona   13,830,000    BBH    1,665,614   6/15/21       (6,723)   (6,723)
                     $17,175   $(83,192)  $(66,017)
Net Unrealized Depreciation on Open Forward Foreign Currency Contracts  $17,428   $(84,674)  $(67,246)

 

Counterparty Abbreviations used in this schedule:

BBH — Brown Brothers Harriman & Co.

 

Currency Abbreviations used in this schedule:

EUR — Euro

SEK — Swedish Krona

 

 

 

   

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Global Fixed Income Opportunities Fund

 

Face
Amount/Units†
      Security   Value  
CORPORATE BONDS & NOTES - 65.2%  
Australia - 0.2%        
$ 1,300,000       QBE Insurance Group Ltd., Subordinated Notes, 6.750% (USD Swap Rate + 4.300%) due 12/2/44(a)@   $ 1,470,950  
Bermuda - 0.3%            
  600,000       Credicorp Ltd., Senior Unsecured Notes, 2.750% due 6/17/25(b)     600,900  
          Digicel Group Holdings Ltd.:        
  374,051       Senior Unsecured Notes, 8.000% due 4/1/25(b)(c)     315,138  
  61,489       Subordinated Notes, 7.000% (b)(c)(d)     46,117  
  234,000       Geopark Ltd., Company Guaranteed Notes, 6.500% due 9/21/24     241,078  
  800,000       Inkia Energy Ltd., Senior Unsecured Notes, 5.875% due 11/9/27     812,000  
          Total Bermuda     2,015,233  
Brazil - 0.9%            
  2,500,000       Banco Bradesco SA, Senior Unsecured Notes, 2.850% due 1/27/23(b)     2,560,025  
  500,000       Banco BTG Pactual SA, Subordinated Notes, 7.750% (5-Year CMT Index + 5.257%) due 2/15/29(a)(b)     541,250  
  3,900,000       Itau Unibanco Holding SA, Subordinated Notes, 3.875% (5-Year CMT Index + 3.446%) due 4/15/31(a)     3,894,930  
          Total Brazil     6,996,205  
British Virgin Islands - 0.3%        
  1,783,000       State Grid Overseas Investment 2013 Ltd., Company Guaranteed Notes, 3.125% due 5/22/23     1,866,193  
  500,000       State Grid Overseas Investment Ltd., Senior Unsecured Notes, 1.000% due 8/5/25     488,611  
          Total British Virgin Islands     2,354,804  
Canada - 3.1%          
  950,000       Canacol Energy Ltd., Company Guaranteed Notes, 7.250% due 5/3/25     997,510  
  12,700,000       Copper Mountain Mining Corp., 8.000% due 4/9/26(b)     13,186,833  
  750,000       Emera Inc., Junior Subordinated Notes, 6.750% (3-Month USD-LIBOR + 5.440%) due 6/15/76(a)     863,107  
  735,000       Enbridge Inc., Subordinated Notes, 5.750% (5-Year CMT Index + 5.314%) due 7/15/80(a)     806,662  
  1,000,000       MEGlobal Canada ULC, Company Guaranteed Notes, 5.000% due 5/18/25(b)     1,123,200  
  598,000       Rockpoint Gas Storage Canada Ltd., Senior Secured Notes, 7.000% due 3/31/23(b)     603,980  
  6,339,000       Tacora Resources Inc., Senior Secured Notes, 8.250% due 5/15/26(b)     6,576,713  
          Total Canada     24,158,005  
Cayman Islands - 4.0%          
  3,400,000       Alibaba Group Holding Ltd., Senior Unsecured Notes, 2.800% due 6/6/23     3,545,512  
          Baidu Inc., Senior Unsecured Notes:        
  1,100,000       3.500% due 11/28/22     1,144,878  
  2,400,000       3.875% due 9/29/23     2,555,498  
  650,000       3.075% due 4/7/25     686,098  
  7,750,000       CK Hutchison International 21 Ltd., Company Guaranteed Notes, 1.500% due 4/15/26(b)     7,805,716  
  200,000       ENN Energy Holdings Ltd., Senior Unsecured Notes, 3.250% due 7/24/22     204,453  
  2,898,000       Grupo Aval Ltd., Company Guaranteed Notes, 4.750% due 9/26/22     2,995,836  
  4,500,000       HPHT Finance 19 Ltd., Company Guaranteed Notes, 2.875% due 11/5/24     4,738,057  
  416,391       Interoceanica IV Finance Ltd., Senior Secured Notes, zero coupon, due 11/30/25     391,304  
  297,748       Peru Enhanced Pass-Through Finance Ltd., Pass Thru Certificates, zero coupon, due 6/2/25     283,605  
  2,732,201       SPARC EM SPC Panama Metro Line 2 SP, Senior Secured Notes, zero coupon, due 12/5/22(b)     2,691,440  

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Global Fixed Income Opportunities Fund (continued)

 

Face
Amount/Units†
      Security   Value  
CORPORATE BONDS & NOTES - (continued)        
Cayman Islands - 4.0% - (continued)        
          Tencent Holdings Ltd., Senior Unsecured Notes:        
$ 374,000       3.280% due 4/11/24   $ 397,351  
  3,500,000       1.810% due 1/26/26(b)     3,563,019  
          Total Cayman Islands     31,002,767  
Chile - 3.8%          
          AES Gener SA, Junior Subordinated Notes:        
  1,000,000       7.125% (5-Year USD Swap Rate + 4.644%) due 3/26/79(a).     1,064,000  
  800,000       7.125% (5-Year USD Swap Rate + 4.644%) due 3/26/79(a)(b).     851,200  
  3,400,000       Chile Electricity PEC SpA, Senior Secured Notes, zero coupon, due 1/25/28(b)     2,779,500  
  400,000       Colbun SA, Senior Unsecured Notes, 4.500% due 7/10/24     432,004  
  836,687       Empresa Electrica Angamos SA, Senior Secured Notes, 4.875% due 5/25/29     836,686  
  1,703,600       Empresa Electrica Cochrane SpA, Senior Secured Notes, 5.500% due 5/14/27     1,748,480  
  1,524,000       Empresa Electrica Guacolda SA, Senior Unsecured Notes, 4.560% due 4/30/25     1,142,377  
  6,300,000       Enel Generacion Chile SA, Senior Unsecured Notes, 4.250% due 4/15/24     6,741,894  
  2,200,000       Falabella SA, Senior Unsecured Notes, 3.750% due 4/30/23     2,302,300  
  5,135,000       Inversiones CMPC SA, Company Guaranteed Notes, 4.500% due 4/25/22     5,269,794  
  6,000,000       Telefonica Chile SA, Senior Unsecured Notes, 3.875% due 10/12/22     6,214,800  
          Total Chile     29,383,035  
Colombia - 1.0%          
  400,000       Banco Bilbao Vizcaya Argentaria Colombia SA, Subordinated Notes, 4.875% due 4/21/25     418,004  
  1,250,000       Bancolombia SA, Subordinated Notes, 4.625% (5-Year CMT Index + 2.944%) due 12/18/29(a)     1,264,375  
  5,600,000       Ecopetrol SA, Senior Unsecured Notes, 5.875% due 9/18/23     6,062,448  
          Total Colombia     7,744,827  
Denmark - 0.1%          
  1,000,000   EUR   Georg Jensen AS, Secured Notes, 6.000% (3-Month EURIBOR + 6.000%) due 5/15/23(a)     1,212,844  
Dominican Republic - 0.2%        
  1,100,000       Banco de Reservas de la Republica Dominicana, Subordinated Notes, 7.000% due 2/1/23     1,152,261  
  324,000       Empresa Generadora de Electricidad Itabo SA, Company Guaranteed Notes, 7.950% due 5/11/26     333,720  
          Total Dominican Republic     1,485,981  
France - 0.3%          
  1,200,000       BNP Paribas SA, Junior Subordinated Notes, 6.625% (5-Year USD Swap Rate + 4.149%) (a)(b)(d)     1,317,000  
  575,000       Credit Agricole SA, Junior Subordinated Notes, 8.125% (5-Year USD Swap Rate + 6.185%) (a)(b)(d)     696,818  
  290,000       Societe Generale SA, Junior Subordinated Notes, 7.875% (5-Year USD Swap Rate + 4.979%) (a)(b)(d)     323,727  
          Total France     2,337,545  
Germany - 0.9%            
  800,000       Deutsche Bank AG, Junior Subordinated Notes, 6.000% (5-Year CMT Index + 4.524%) (a)(d)     840,000  
  2,640,000   EUR   LifeFit Group, Secured Notes, 7.500% (3-Month EURIBOR + 7.500%) due 7/26/23(a)     3,090,701  
  2,441,000   EUR   LR Global Holding GmbH, Senior Secured Notes, 7.250% (3-Month EURIBOR + 7.250%) due 2/3/25(a)     3,064,796  
          Total Germany     6,995,497  

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Global Fixed Income Opportunities Fund (continued)

 

Face
Amount/Units†
      Security   Value  
CORPORATE BONDS & NOTES - (continued)      
India - 1.3%        
$ 900,000       Adani Ports & Special Economic Zone Ltd., Senior Unsecured Notes, 3.375% due 7/24/24   $ 943,995  
          Indian Oil Corp., Ltd., Senior Unsecured Notes:        
  2,995,000       5.625% due 8/2/21     3,021,207  
  1,500,000       5.750% due 8/1/23     1,638,783  
  1,100,000       ONGC Videsh Ltd., Company Guaranteed Notes, 3.750% due 5/7/23     1,149,434  
  3,150,000       Reliance Industries Ltd., Senior Unsecured Notes, 5.400% due 2/14/22     3,249,782  
          Total India     10,003,201  
Indonesia - 0.4%          
  1,900,000       Pertamina Persero PT, Senior Unsecured Notes, 1.400% due 2/9/26     1,864,004  
  1,000,000       Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, Senior Unsecured Notes, 5.500% due 11/22/21     1,021,800  
          Total Indonesia     2,885,804  
Ireland - 0.2%          
  1,400,000       C&W Senior Financing DAC, Senior Unsecured Notes, 7.500% due 10/15/26     1,470,000  
Israel - 0.1%          
  500,000       Israel Electric Corp., Ltd., Senior Secured Notes, 6.875% due 6/21/23     558,845  
Italy - 1.9%          
  365,000       Intesa Sanpaolo SpA, Company Guaranteed Notes, 7.700% (5-Year USD Swap Rate + 5.462%) (a)(b)(d)     416,100  
  11,340,000   EUR   Linkem SpA, Senior Secured Notes, 7.000% (3-Month EURIBOR + 7.000%) due 8/9/22(a)(b)     13,829,821  
  245,000       UniCredit SpA, Junior Subordinated Notes, 8.000% (5-Year USD Swap Rate + 5.180%) (a)(d)@     271,613  
          Total Italy     14,517,534  
Jersey, Channel Islands - 0.8%      
  6,100,000       Galaxy Pipeline Assets Bidco Ltd., Senior Secured Notes, 1.750% due 9/30/27     6,153,464  
Malaysia - 2.5%          
  1,250,000       Axiata SPV2 Bhd, Senior Unsecured Notes, 4.357% due 3/24/26     1,405,450  
  200,000       CIMB Bank Bhd, Senior Unsecured Notes, 3.263% due 3/15/22     203,720  
  1,715,000       Malayan Banking Bhd, Subordinated Notes, 3.905% (5-Year USD Swap Rate + 2.542%) due 10/29/26(a)     1,732,116  
  1,200,000       Malaysia Sovereign Sukuk Bhd, Unsecured Notes, 3.043% due 4/22/25     1,290,556  
          Petronas Capital Ltd., Company Guaranteed Notes:        
  2,700,000       3.125% due 3/18/22     2,755,274  
  3,400,000       3.500% due 3/18/25     3,682,691  
  6,700,000       TNB Global Ventures Capital Bhd, Senior Unsecured Notes, 3.244% due 10/19/26     7,134,250  
  1,000,000       Wakala Global Sukuk Bhd, Senior Unsecured Notes, 4.646% due 7/6/21     1,003,640  
          Total Malaysia     19,207,697  
Marshall Islands - 0.2%          
  1,837,000       Borealis Finance LLC, Senior Secured Notes, 7.500% due 11/16/23(b)     1,878,332  
Mexico - 1.9%          
  3,800,000       Banco Mercantil del Norte SA, Junior Subordinated Notes, 6.875% (5-Year CMT Index + 5.035%) (a)(d)     3,933,000  
  6,300,000       Banco Nacional de Comercio Exterior SNC, Subordinated Notes, 3.800% (5-Year CMT Index + 3.000%) due 8/11/26(a)     6,284,313  
          BBVA Bancomer SA, Subordinated Notes:        
  457,000       6.750% due 9/30/22     486,705  
  1,943,000       5.350% (5-Year CMT Index + 3.000%) due 11/12/29(a)     2,028,026  

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Global Fixed Income Opportunities Fund (continued)

 

Face
Amount/Units†
      Security   Value  
CORPORATE BONDS & NOTES - (continued)      
Mexico - 1.9%- (continued)      
$ 350,000       Fomento Economico Mexicano SAB de CV, Senior Unsecured Notes, 2.875% due 5/10/23   $ 363,659  
  400,000       Grupo Bimbo SAB de CV, Company Guaranteed Notes, 4.500% due 1/25/22     409,306  
  950,000       Unifin Financiera SAB de CV, Company Guaranteed Notes, 7.250% due 9/27/23     918,365  
          Total Mexico     14,423,374  
Multinational - 1.0%          
  7,897,000       Connect Finco SARL/Connect US Finco LLC, Senior Secured Notes, 6.750% due 10/1/26(b)     8,163,524  
Netherlands - 1.5%          
  1,410,000       AerCap Holdings NV, Company Guaranteed Notes, 5.875% (5-Year CMT Index + 4.535%) due 10/10/79(a)     1,459,350  
  600,000       ING Groep NV, Junior Subordinated Notes, 5.750% (5-Year CMT Index + 4.342%) (a)(d)     660,372  
  3,000,000       Minejesa Capital BV, Senior Secured Notes, 4.625% due 8/10/30     3,121,500  
  6,150,000       Petrobras Global Finance BV, Company Guaranteed Notes, 4.375% due 5/20/23     6,519,000  
          Total Netherlands     11,760,222  
Norway - 1.2%      
  24,500,000   NOK   Aker Horizons Holding ASA, Senior Unsecured Notes, 3.510% (3-Month NIBOR +3.250%) due 8/15/25(a)     2,892,214  
  8,933,000   NOK   Duo BidCo AS, 5.350% (3-Month NIBOR + 5.350%) due 4/12/26(a)     1,078,698  
  13,500,000   NOK   Grieg Seafood ASA, Senior Unsecured Notes, 3.790% (3-Month NIBOR + 3.400%) due 6/25/25(a)(b)     1,602,684  
          Jacktel AS:        
  2,255,000       Senior Secured Notes, 10.000% due 12/4/23(b)(c)     451,000  
  664,931       Senior Unsecured Notes, 10.000% due 12/4/23     664,931  
  4,900,000   SEK   Mercell Holding AS, zero coupon, due 12/8/25     605,705  
  18,100,000   NOK   Modex AS, Senior Secured Notes, 7.990% (3-Month NIBOR + 7.750%) due 3/2/26(a)     2,192,761  
          Total Norway     9,487,993  
Panama - 1.2%          
  2,500,000       Banistmo SA, Senior Unsecured Notes, 3.650% due 9/19/22(b)     2,550,000  
  1,158,278       ENA Norte Trust, Pass Thru Certificates, 4.950% due 4/25/23     1,184,339  
  2,200,000       Global Bank Corp., Senior Unsecured Notes, 4.500% due 10/20/21     2,212,100  
  3,400,000       Multibank Inc., Senior Unsecured Notes, 4.375% due 11/9/22     3,475,650  
          Total Panama     9,422,089  
Paraguay - 0.1%          
  950,000       Banco Continental SAECA, Senior Unsecured Notes, 2.750% due 12/10/25(b)     931,959  
Peru - 1.8%          
          Banco de Credito del Peru, Subordinated Notes:        
  2,050,000       3.125% (5-Year CMT Index + 3.000%) due 7/1/30(a)     2,024,395  
  2,800,000       3.250% (5-Year CMT Index + 2.450%) due 9/30/31(a)(b)     2,746,800  
  2,700,000       Banco Internacional del Peru SAA Interbank, Subordinated Notes, 4.000% (1-Year CMT Index + 3.711%) due 7/8/30(a)     2,646,000  
  3,490,147       Fenix Power Peru SA, Senior Unsecured Notes, 4.317% due 9/20/27     3,533,774  
  150,000       Scotiabank Peru SAA, Subordinated Notes, 4.500% (3-Month USD-LIBOR + 3.856%) due 12/13/27(a)     150,002  
  2,750,000       Transportadora de Gas del Peru SA, Senior Unsecured Notes, 4.250% due 4/30/28     2,948,000  
          Total Peru     14,048,971  
Philippines - 0.4%          
  3,000,000       BDO Unibank Inc., Senior Unsecured Notes, 2.950% due 3/6/23     3,105,300  
Portugal - 0.0%          
  70,068       Invepar, zero coupon, due 12/30/28(e)(f)     2,996  

  

 

 

  

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Global Fixed Income Opportunities Fund (continued)

  

Face
Amount/Units†
      Security   Value  
CORPORATE BONDS & NOTES - (continued)        
Saudi Arabia - 0.3%          
          Saudi Arabian Oil Co., Senior Unsecured Notes:        
$ 2,100,000       2.750% due 4/16/22   $ 2,143,718  
  300,000       1.250% due 11/24/23(b)     303,775  
          Total Saudi Arabia     2,447,493  
Singapore - 5.2%          
          DBS Group Holdings Ltd.:        
  6,100,000       Junior Subordinated Notes, 3.600% (5-Year USD Swap Rate + 2.390%) (a)(d)     6,122,875  
  500,000       Senior Unsecured Notes, 2.850% due 4/16/22     510,760  
          Subordinated Notes:        
  500,000       4.520% (5-Year USD 1100 Run ICE Swap Rate + 1.590%) due 12/11/28(a)     540,535  
  700,000       1.822% (5-Year CMT Index + 1.100%) due 3/10/31(a)     699,132  
  5,190,000       ONGC Videsh Vankorneft Pte Ltd., Company Guaranteed Notes, 2.875% due 1/27/22     5,256,795  
  2,500,000       Oversea-Chinese Banking Corp., Ltd., Subordinated Notes, Private Placement, 1.832% (5-Year CMT Index + 1.580%) due 9/10/30(a)(b)     2,504,000  
          Oversea-Chinese Banking Corp., Ltd., Subordinated Notes:        
  4,400,000       1.832% (5-Year CMT Index + 1.580%) due 9/10/30(a)     4,407,040  
  200,000       4.250% due 6/19/24     218,586  
  950,000       PSA Treasury Pte Ltd., Company Guaranteed Notes, 2.500% due 4/12/26     994,699  
          SingTel Group Treasury Pte Ltd., Company Guaranteed Notes:        
  1,200,000       3.250% due 6/30/25     1,289,552  
  2,300,000       2.375% due 10/3/26     2,423,068  
  3,000,000       SP PowerAssets Ltd., Senior Unsecured Notes, 2.700% due 9/14/22     3,082,590  
  4,000,000       Temasek Financial I Ltd., Company Guaranteed Notes, 2.375% due 1/23/23     4,130,440  
          United Overseas Bank Ltd., Subordinated Notes:        
  4,700,000       3.500% (5-Year USD Swap Rate + 2.236%) due 9/16/26(a)     4,725,004  
  1,900,000       3.750% (5-Year CMT Index + 1.500%) due 4/15/29(a)     2,028,421  
  1,100,000       1.750% (5-Year CMT Index + 1.520%) due 3/16/31(a)     1,093,983  
          Total Singapore     40,027,480  
South Korea - 4.0%          
  4,900,000       Korea East-West Power Co., Ltd., Senior Unsecured Notes, 1.750% due 5/6/25(b)     5,001,736  
  4,800,000       Korea Southern Power Co., Ltd., Senior Unsecured Notes, 0.750% due 1/27/26(b)     4,686,031  
  7,300,000       KT Corp., Senior Unsecured Notes, 1.000% due 9/1/25     7,247,088  
  3,900,000       LG Chem Ltd., Senior Unsecured Notes, 3.250% due 10/15/24     4,206,086  
  2,000,000       NongHyup Bank, Senior Unsecured Notes, Private Placement, 1.250% due 7/20/25(b)     2,004,586  
  2,000,000       NongHyup Bank, Senior Unsecured Notes, 1.250% due 7/20/25     2,004,586  
          POSCO, Senior Unsecured Notes:        
  2,000,000       2.375% due 11/12/22     2,044,260  
  3,044,000       2.375% due 1/17/23     3,118,030  
  700,000       2.750% due 7/15/24     737,752  
          Total South Korea     31,050,155  
Sweden - 0.1%          
  3,750,000   SEK   VNV Global AB, Senior Secured Notes, 5.750% due 10/4/22     466,289  
Switzerland - 0.4%          
  1,365,000       Credit Suisse Group AG, Junior Subordinated Notes, 6.375% (5-Year CMT Index + 4.822%) (a)(b)(d)     1,491,262  
  1,400,000       UBS Group AG, Junior Subordinated Notes, 6.875% (5-Year USD Swap Rate + 4.590%) (a)(d)@     1,589,003  
          Total Switzerland     3,080,265  
Thailand - 0.2%          
  1,800,000       Bangkok Bank PCL, Senior Unsecured Notes, 3.875% due 9/27/22     1,876,374  

 

 

 

  

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Global Fixed Income Opportunities Fund (continued)

 

Face
Amount/Units†
      Security   Value  
CORPORATE BONDS & NOTES - (continued)        
United Kingdom - 1.2%            
$ 1,525,000       Barclays PLC, Junior Subordinated Notes, 7.750% (5-Year USD Swap Rate + 4.842%) (a)(d)   $ 1,673,687  
  430,000       HSBC Holdings PLC, Junior Subordinated Notes, 6.000% (5-Year USD 1100 Run ICE Swap Rate + 3.746%) (a)(d)     474,075  
  1,480,000       Lloyds Banking Group PLC, Junior Subordinated Notes, 7.500% (5-Year USD Swap Rate + 4.496%) (a)(d)     1,714,018  
  800,000       Natwest Group PLC, Junior Subordinated Notes, 6.000% (5-Year CMT Index + 5.625%) (a)(d)     887,624  
  2,400,000   EUR   SB Holdco PLC, Secured Notes, 8.000% (3-Month EURIBOR + 8.000%) due 7/13/22(a)     2,963,385  
  440,000       Standard Chartered PLC, Junior Subordinated Notes, 6.000% (5-Year CMT Index + 5.661%) (a)(b)(d)     480,524  
          Vedanta Resources Ltd., Senior Unsecured Notes:        
  800,000       7.125% due 5/31/23     751,600  
  200,000       6.125% due 8/9/24     170,600  
  210,000       Vodafone Group PLC, Junior Subordinated Notes, 7.000% (5-Year USD Swap Rate + 4.873%) due 4/4/79(a)     252,688  
          Total United Kingdom     9,368,201  
United States - 22.2%            
  8,762,000       99 Escrow Issuer Inc., Senior Secured Notes, 7.500% due 1/15/26(b)     8,280,090  
  845,000       Ally Financial Inc., Junior Subordinated Notes, 4.700% (5-Year CMT Index + 3.868%) (a)(d)     864,487  
  395,000       American International Group Inc., Junior Subordinated Notes, 5.750% (3-Month USD-LIBOR + 2.868%) due 4/1/48(a)     447,436  
  3,088,439       Anagram International Inc./Anagram Holdings LLC, Senior Secured Notes, 15.000% due 8/15/25(b)(c)     3,489,936  
  1,100,000       Assurant Inc., Subordinated Notes, 7.000% (3-Month USD-LIBOR + 4.135%) due 3/27/48(a)     1,264,309  
  969,000       Assured Guaranty Municipal Holdings Inc., Company Guaranteed Notes, 6.400% (1-Month USD-LIBOR + 2.215%) due 12/15/66(a)(b)     1,025,258  
  2,541,000       At Home Holding III Inc., Senior Secured Notes, 8.750% due 9/1/25(b)     2,833,215  
  1,350,000       Bank of America Corp., Junior Subordinated Notes, 6.300% (3-Month USD-LIBOR + 4.553%) (a)(d)     1,566,405  
  9,959,000       Brazos Electric Power Cooperative Inc., zero coupon, due 3/23/49(e)(f)     8,963,100  
  133,000       Briggs & Stratton Corp., Senior Unsecured Notes, zero coupon, due 12/15/20(e)     11,129  
  630,000       Capital Farm Credit ACA, Junior Subordinated Notes, 5.000% (5-Year CMT Index + 4.523%) (a)(b)(d)     642,343  
  655,000       Capital One Financial Corp., Junior Subordinated Notes, 3.935% (3-Month USD-LIBOR + 3.800%) (a)(d)     655,000  
  600,000       CenterPoint Energy Inc., Junior Subordinated Notes, 6.125% (3-Month USD-LIBOR + 3.270%) (a)(d)     640,500  
  435,000       Charles Schwab Corp., Junior Subordinated Notes, 5.375% (5-Year CMT Index + 4.971%) (a)(d)     481,763  
  3,201,000       Chobani LLC/Chobani Finance Corp. Inc., Company Guaranteed Notes, 7.500% due 4/15/25(b)     3,330,705  
  260,000       CIT Group Inc., Junior Subordinated Notes, 5.800% (3-Month USD-LIBOR + 3.972%) (a)(d)     268,453  
  2,039,000       Citigroup Inc., Junior Subordinated Notes, 5.950% (3-Month USD-LIBOR + 3.905%) (a)(d)     2,238,822  
  225,000       Citizens Financial Group Inc., Junior Subordinated Notes, 6.375% (3-Month USD-LIBOR + 3.157%) (a)(d)     240,750  
  1,075,000       CoBank ACB, Junior Subordinated Notes, 6.250% (3-Month USD-LIBOR + 4.660%) (a)(d)     1,204,000  
  650,000       Compeer Financial ACA, Junior Subordinated Notes, 4.875% (5-Year CMT Index + 4.095%) (a)(b)(d)(e)     654,875  

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Global Fixed Income Opportunities Fund (continued)

 

Face
Amount/Units†
      Security   Value  
CORPORATE BONDS & NOTES - (continued)      
United States - 22.2% - (continued)      
$ 1,982,000       Crocs Inc., Company Guaranteed Notes, 4.250% due 3/15/29(b)   $ 2,003,703  
  428,000       CTO Realty Growth Inc., Senior Unsecured Notes, Private Placement, 3.875% due 4/15/25(b)     438,957  
  2,393,000       CTO Realty Growth Inc., Senior Unsecured Notes, 3.875% due 4/15/25     2,454,261  
  510,000       Dairy Farmers of America Inc., Junior Subordinated Notes, 7.125% (b)(d)     510,000  
  5,255,000       Dell International LLC/EMC Corp., Company Guaranteed Notes, 7.125% due 6/15/24(b)     5,360,100  
  2,127,000       Diamond Sports Group LLC/Diamond Sports Finance Co., Senior Secured Notes, 12.750% due 12/1/26(b)     1,807,950  
  4,268,000       Diebold Nixdorf Inc., Company Guaranteed Notes, 8.500% due 4/15/24     4,368,554  
  390,000       Discover Financial Services, Junior Subordinated Notes, 6.125% (5-Year CMT Index + 5.783%) (a)(d)     438,633  
  1,899,000       DISH Network Corp., Senior Unsecured Notes, 3.375% due 8/15/26     1,959,768  
  1,321,000       Donnelley Financial Solutions Inc., Company Guaranteed Notes, 8.250% due 10/15/24     1,373,840  
  425,000       Edison International, Junior Subordinated Notes, 5.375% (5-Year CMT Index + 4.698%) (a)(d)     429,250  
  615,000       Equitable Holdings Inc., Junior Subordinated Notes, 4.950% (5-Year CMT Index + 4.736%) (a)(d)     661,125  
  610,000       Fifth Third Bancorp, Junior Subordinated Notes, 4.500% (5-Year CMT Index + 4.215%) (a)(d)     664,137  
  2,083,000       Fresh Market Inc., Senior Secured Notes, 9.750% due 5/1/23(b)     2,140,824  
  3,164,000       FXI Holdings Inc., Senior Secured Notes, 12.250% due 11/15/26(b)     3,658,375  
  845,000       General Electric Co., Junior Subordinated Notes, 3.514% (3-Month USD-LIBOR + 3.330%) (a)(d)     812,721  
          General Motors Financial Co., Inc., Junior Subordinated Notes:        
  280,000       5.700% (5-Year CMT Index + 4.997%) (a)(d)     313,950  
  960,000       5.750% (3-Month USD-LIBOR + 3.598%) (a)(d)     1,044,000  
  412,000       Getty Images Inc., Senior Unsecured Notes, 9.750% due 3/1/27(b)     439,810  
  1,444,000       Goldman Sachs Group Inc., Junior Subordinated Notes, 5.500% (5-Year CMT Index + 3.623%) (a)(d)     1,563,130  
  8,163,808       Hawaiian Airlines Class A Pass-Through Certificates, Pass Thru Certificates, 3.900% due 1/15/26     7,915,614  
  864,380       Hawaiian Airlines Class B Pass-Through Certificates, Pass Thru Certificates, 4.950% due 1/15/22     862,946  
 9,528,000     HC2 Holdings Inc., Senior Secured Notes, 8.500% due 2/1/26(b)   9,408,900 
 1,062,000     Hercules Achievement, Inc./Varsity Brands Holding Co., Inc., Senior Secured Notes, 9.000% (3-Month USD-LIBOR + 8.000%) due 12/22/24(a)(b)   1,072,620 
 5,329,000     Hertz Corp., Secured Notes, 7.625% due 6/1/22(b)(e)(g)   5,828,594 
 9,910,000     Hunt Cos., Inc., Senior Secured Notes, 5.250% due 4/15/29(b)   9,535,204 
 1,120,000     Huntington Bancshares Inc., Junior Subordinated Notes, 5.625% (5-Year CMT Index + 4.945%) (a)(d)   1,300,320 
 5,251,000     Icahn Enterprises LP/Icahn Enterprises Finance Corp., Company Guaranteed Notes, 5.250% due 5/15/27(b)   5,375,711 
       JPMorgan Chase & Co., Junior Subordinated Notes:     
 435,000     3.650% (5-Year CMT Index + 2.850%) (a)(d)   437,040 
 1,015,000     5.000% (SOFR rate + 3.380%) (a)(d)   1,067,202 
 585,000     6.750% (3-Month USD-LIBOR + 3.780%) (a)(d)   643,061 
 475,000     KeyCorp, Junior Subordinated Notes, 5.000% (3-Month USD-LIBOR + 3.606%) (a)(d)   530,323 
 1,655,000     Land O' Lakes Inc., Junior Subordinated Notes, 7.250% (b)(d)   1,733,612 
 500,000     M&T Bank Corp., Junior Subordinated Notes, 5.125% (3-Month USD-LIBOR + 3.520%) (a)(d)   548,750 
 855,000     Markel Corp., Junior Subordinated Notes, 6.000% (5-Year CMT Index + 5.662%) (a)(d)   951,803 
       Martin Midstream Partners LP/Martin Midstream Finance Corp., Secured Notes:     
 7,118,576     10.000% due 2/29/24(b)   7,367,726 
 3,594,055     11.500% due 2/28/25(b)   3,737,817 

  

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Global Fixed Income Opportunities Fund (continued)

 

Face
Amount/Units†
    Security  Value 
CORPORATE BONDS & NOTES - (continued)     
United States - 22.2% - (continued)     
$825,000    MetLife Inc., Junior Subordinated Notes, 5.875% (3-Month USD-LIBOR + 2.959%) (a)(d)  $936,375 
 385,000    NiSource Inc., Junior Subordinated Notes, 5.650% (5-Year CMT Index + 2.843%) (a)(d)   403,287 
 195,000    PartnerRe Finance B LLC, Company Guaranteed Notes, 4.500% (5-Year CMT Index + 3.815%) due 10/1/50(a)   199,877 
 5,420,000    PBF Logistics LP/PBF Logistics Finance Corp., Company Guaranteed Notes, 6.875% due 5/15/23   5,399,675 
 717,000    PNC Financial Services Group Inc., Junior Subordinated Notes, 5.000% (3-Month USD-LIBOR + 3.300%) (a)(d)   800,351 
 480,000    Provident Financing Trust I, Limited Guaranteed Notes, 7.405% due 3/15/38   572,005 
 1,150,000    Regions Financial Corp., Junior Subordinated Notes, 5.750% (5-Year CMT Index + 5.430%) (a)(d)   1,276,500 
 845,000    SBL Holdings Inc., Junior Subordinated Notes, 7.000% (5-Year CMT Index + 5.580%) (a)(b)(d)   852,394 
 410,000    Sempra Energy, Junior Subordinated Notes, 4.875% (5-Year CMT Index + 4.550%) (a)(d)   444,850 
 633,000    Sirius XM Radio Inc., Company Guaranteed Notes, 5.375% due 7/15/26(b)   652,864 
 595,000    Southern Co., Junior Subordinated Notes, 4.000% (5-Year CMT Index + 3.733%) due 1/15/51(a)   629,522 
 5,691,000    StoneX Group Inc., Senior Secured Notes, 8.625% due 6/15/25(b)   6,089,370 
 1,156,000    StorCentric Inc., Senior Secured Notes, 5.875% due 2/19/23(b)(e)   1,153,110 
 3,057,000    Surgery Center Holdings Inc., Company Guaranteed Notes, 6.750% due 7/1/25(b)   3,106,676 
      SVB Financial Group, Junior Subordinated Notes:     
 180,000    4.000% (5-Year CMT Index + 3.202%) (a)(d)   182,790 
 415,000    4.100% (5-Year CMT Index + 3.064%) (a)(d)   414,481 
 2,958,000    Tenneco Inc., Senior Secured Notes, 5.125% due 4/15/29(b)   2,958,000 
 1,810,000    Truist Financial Corp., Junior Subordinated Notes, 4.800% (5-Year CMT Index + 3.003%) (a)(d)   1,925,388 
 3,164,000    Uber Technologies Inc., Senior Unsecured Notes, zero coupon, due 12/15/25(b)   3,219,370 
 8,201,000    UpHealth Inc., Senior Unsecured Notes, 6.250% due 3/15/26(e)(f)   8,201,000 
 770,000    Voya Financial Inc., Junior Subordinated Notes, 6.125% (5-Year CMT Index + 3.358%) (a)(d)   831,600 
      Wells Fargo & Co., Junior Subordinated Notes:     
 950,000    3.900% (5-Year CMT Index + 3.453%) (a)(d)   973,798 
 1,505,000    5.900% (3-Month USD-LIBOR + 3.110%) (a)(d)   1,616,370 
      Total United States   172,702,560 
      TOTAL CORPORATE BONDS & NOTES     
      (Cost - $ 495,085,556)   506,197,815 
SOVEREIGN BONDS - 8.5%    
Brazil - 0.9% 
 6,850,000    Brazilian Government International Bond, 2.875% due 6/6/25   7,054,062 
Colombia - 0.3%       
 2,100,000    Colombia Government International Bond, 2.625% due 3/15/23   2,146,620 
India - 0.3%       
 2,000,000    Export-Import Bank of India, 3.125% due 7/20/21   2,005,801 
Indonesia - 1.5%     
      Indonesia Government International Bond:     
 1,500,000    3.750% due 4/25/22   1,543,350 
 2,200,000    2.950% due 1/11/23   2,283,644 
 300,000    3.375% due 4/15/23   315,534 
      Perusahaan Penerbit SBSN Indonesia III:     
 1,000,000    3.400% due 3/29/22   1,024,430 
 3,018,000    3.300% due 11/21/22   3,139,052 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Global Fixed Income Opportunities Fund (continued)

 

Face
Amount/Units†
    Security  Value 
SOVEREIGN BONDS - (continued)     
Indonesia - 1.5% - (continued)     
$1,321,000    3.750% due 3/1/23  $1,391,938 
 1,750,000    2.300% due 6/23/25   1,813,962 
      Total Indonesia   11,511,910 
Panama - 0.9%     
      Panama Government International Bond:     
 4,300,000    4.000% due 9/22/24   4,670,918 
 2,000,000    3.750% due 3/16/25   2,175,020 
      Total Panama   6,845,938 
Peru - 1.0%     
 1,015,000    Corp. Financiera de Desarrollo SA, Subordinated Notes, 5.250% (3-Month USD-LIBOR + 5.605%) due 7/15/29(a)   1,033,280 
 6,900,000    Peruvian Government International Bond, 2.392% due 1/23/26   7,106,241 
      Total Peru   8,139,521 
Qatar - 0.4%     
      Qatar Government International Bond:     
 2,300,000    2.375% due 6/2/21   2,300,230 
 900,000    4.500% due 1/20/22   924,300 
      Total Qatar   3,224,530 
Saudi Arabia - 0.8%       
      Saudi Government International Bond:     
 3,500,000    2.375% due 10/26/21   3,527,300 
 3,000,000    2.875% due 3/4/23   3,117,000 
      Total Saudi Arabia   6,644,300 
South Korea - 1.9%       
      Korea Development Bank:     
 300,000    1.250% due 6/3/25   303,232 
 2,200,000    0.800% due 4/27/26   2,171,806 
 200,000    1.000% due 9/9/26   199,101 
 7,200,000    Korea Electric Power Corp., 1.125% due 6/15/25(b)   7,185,218 
 5,100,000    Korea Hydro & Nuclear Power Co., Ltd., 1.250% due 4/27/26(b)   5,083,017 
      Total South Korea   14,942,374 
United Arab Emirates - 0.5%       
      Abu Dhabi Government International Bond:     
 2,000,000    0.750% due 9/2/23(b)   2,017,180 
 1,600,000    2.500% due 4/16/25(b)   1,696,000 
      Total United Arab Emirates   3,713,180 
      TOTAL SOVEREIGN BONDS     
      (Cost - $65,879,464)   66,228,236 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Global Fixed Income Opportunities Fund (continued)

 

Face
Amount/Units†
    Security  Value 
SENIOR LOANS - 8.4%(a)     
$423,773    ABB/Con-Cise Optical Group LLC, 6.000% (3-Month USD-LIBOR + 5.000%) due 6/15/23  $406,822 
      Alliance HealthCare Services Inc.:     
 2,871,476    5.500% (1-Month USD-LIBOR + 4.500%) due 10/24/23   2,727,902 
 1,398,101    due 4/24/24(h)   716,526 
 343,423    Appvion Operations Inc., 7.000% (3-Month USD-LIBOR + 6.000%) due 6/12/26   341,706 
 2,003,059    Elevate Textiles Inc., 5.259% (3-Month USD-LIBOR + 5.000%) due 5/1/24   1,912,922 
 6,606,639    First Brands Group LLC, 9.500% (3-Month USD-LIBOR + 8.500%) due 3/30/28   6,639,672 
 798,000    Gemmacert Ltd., due 5/19/24(e)(f)(h)   798,000 
 4,828,763    Golden Nugget Online Gaming Inc., 13.000% (3-Month USD-LIBOR + 12.000%) due 10/4/23   5,359,927 
 5,085,582    Hertz Corp., due 12/31/21(h)   5,093,210 
 2,777,853    IEA Energy Services LLC, 7.004% (3-Month USD-LIBOR + 6.750%) due 9/25/24   2,770,908 
 14,779,000    JZ Capital Partners Ltd., 16.000% (1-Month USD-LIBOR + 11.000% cash + 4.000% PIK) due 6/12/22(e)   14,779,000 
 4,492,842    Lealand Finance Co., BV, 4.115% (1-Month USD-LIBOR + 4.000%) due 6/30/25   1,963,372 
 13,867,000    Mallinckrodt International Finance SA, due 2/28/22(h)   13,620,029 
 4,985,386    Pixelle Specialty Solutions LLC, 7.500% (1-Month USD-LIBOR + 6.500%) due 10/31/24   4,965,644 
 2,254,913    RA Acquisition Purchaser LLC, 11.000% (3-Month USD-LIBOR + 10.000%) due 5/31/23(f)   2,254,913 
      TOTAL SENIOR LOANS     
      (Cost - $65,600,752)   64,350,553 

 

Shares/Units         
COMMON STOCKS - 8.4%     
Canada - 0.3%       
 44,400   Barrick Gold Corp.   1,069,152 
 158,308   BGP Acquisition Corp., Class A Shares*(e)(f)   1,496,010 
 21,182   Frontera Energy Corp.*(i)   110,913 
     Total Canada   2,676,075 
Israel - 0.8%     
 776,233   Intercure Ltd.*(f)   6,062,380 
United States - 7.3%     
 43,843   Alpine Income Property Trust Inc.   799,258 
 45,350   Anzu Special Acquisition Corp. I*   448,965 
 267,281   Appvion Inc.*(e)   3,453,271 
 29,961   Ares Acquisition Corp.*(i)   300,209 
 29,898   Athena Technology Acquisition Corp.*   296,887 
 241,887   Atlantic Avenue Acquisition Corp., Class A Shares*   2,346,304 
 264,887   Carney Technology Acquisition Corp. II, Class A Shares*   2,572,053 
 91,599   Cartesian Growth Corp.*   909,578 
 99,874   Cascade Acquisition Corp., Class A Shares*   982,760 
 59,653   CBRE Acquisition Holdings Inc., Class A Shares*   581,617 
 220,946   Cerberus Telecom Acquisition Corp., Class A Shares*(f)(i)   1,581,312 
 54,430   CF Acquisition Corp. IV, Class A Shares*(i)   527,427 
 48,740   CF Acquisition Corp. VI*   485,450 
 49,965   Clarim Acquisition Corp.*   494,154 
 30,718   Cohn Robbins Holdings Corp., Class A Shares*   301,651 
 17,653   CTO Realty Growth Inc.   932,431 
 7,769   DHB Capital Corp.*   77,379 
 74,156   Disruptive Acquisition Corp. I*(i)   740,818 
 60,059   EJF Acquisition Corp.*   596,986 
 24,408   Empowerment & Inclusion Capital I Corp.*   241,395 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Global Fixed Income Opportunities Fund (continued)

 

Shares/Units    Security  Value 
COMMON STOCKS - (continued)     
United States - 7.3% - (continued)     
 352   Energy Harbor Corp.*(f)  $11,207 
 69,779   Equity Distribution Acquisition Corp., Class A Shares*   683,834 
 56,078   Forum Merger IV Corp.*   556,855 
 238,000   Genesis Park Acquisition Corp., Class A Shares*(f)    
 59,455   GigCapital4 Inc.*   594,550 
 126,678   GigInternational1 Inc.*   1,266,780 
 33,614   Global Partner Acquisition Corp. II*   333,115 
 86,133   Golden Falcon Acquisition Corp., Class A Shares*   831,183 
 67,735   Gores Guggenheim Inc.*   672,609 
 50,095   Hamilton Lane Alliance Holdings I Inc., Class A Shares*   487,424 
 60,053   Isleworth Healthcare Acquisition Corp.*   584,316 
 62,712   KINS Technology Group Inc., Class A Shares*   620,849 
 414,933   Live Oak Acquisition Corp. II, Class A Shares*(e)(f)    
 18,600   Magellan Midstream Partners LP   916,794 
 25,499   Marlin Technology Corp., Class A Shares*   253,205 
 534,907   Mason Industrial Technology Inc., Class A Shares*   5,167,202 
 251,150   McDermott International Ltd.*   123,064 
 555,414   McDermott International Ltd.*(e)(f)   272,153 
 17,046   Noble Rock Acquisition Corp.*   169,437 
 68,164   Oaktree Acquisition Corp. II, Class A Shares*   665,962 
 466,079   Omnichannel Acquisition Corp., Class A Shares*   4,562,913 
 50,040   One Equity Partners Open Water I Corp., Class A Shares*   482,386 
 45,730   Peridot Acquisition Corp. II*   456,385 
 4,986   Pontem Corp.*   49,760 
 14,913   PWP Forward Acquisition Corp. I*   147,639 
 52   Real Alloy Holding Inc.*(e)(f)   1,604,914 
 621,485   Rescap Liquidating Trust*(e)   503,403 
 508,250   RMG Acquisition Corp. II, Class A Shares*    
 47,352   RMG Acquisition Corp. III, Class A Shares*   463,103 
 13,273   RXR Acquisition Corp.*   132,730 
 44,738   Seven Oaks Acquisition Corp., Class A Shares*   437,090 
 55,530   Starboard Value Acquisition Corp., Class A Shares*(i)   550,302 
 147,235   Stratim Cloud Acquisition Corp.*   1,464,988 
 146,756   Superior Energy Services Inc.*(e)(f)   4,989,704 
 5,598   Supernova Partners Acquisition Co. III Ltd.*   55,980 
 76,153   Tailwind International Acquisition Corp., Class A Shares*   738,684 
 73,971   Tailwind Two Acquisition Corp., Class A Shares*(e)   720,478 
 29,889   Tech & Energy Transition Corp.*   298,890 
 138,239   Tekkorp Digital Acquisition Corp., Class A Shares*   1,350,595 
 15,084   Thimble Point Acquisition Corp., Class A Shares*   146,616 
 81,494   Tishman Speyer Innovation Corp. II*   814,940 
 126,645   TS Innovation Acquisitions Corp.*(f)    
 372,905   Vector Acquisition Corp. II, Class A Shares*   3,676,843 
 246,967   Vector Acquisition Corp., Class A Shares*(f)    
 27,534   Z-Work Acquisition Corp.*   273,688 
     Total United States   56,802,475 
     TOTAL COMMON STOCKS     
     (Cost - $67,051,074)   65,540,930 
PREFERRED STOCKS - 2.9%     
Bermuda - 0.3%     
 30,926   Aspen Insurance Holdings Ltd., 5.625%(d)   810,261 
 24,704   Athene Holding Ltd., 6.375% (5-Year CMT Index + 5.970%)(a)(d)   706,535 
 19,388   Enstar Group Ltd., 7.000% (3-Month USD-LIBOR + 4.015%)(a)(d)   555,660 
     Total Bermuda   2,072,456 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Global Fixed Income Opportunities Fund (continued)

 

Shares/Units    Security  Value 
PREFERRED STOCKS - (continued)     
United States - 2.6%     
 13,299   Air Lease Corp., 6.150% (3-Month USD-LIBOR + 3.650%)(a)(d)  $355,349 
 31,620   American Equity Investment Life Holding Co., 6.625% (5-Year CMT Index + 6.297%)(a)(d)   896,743 
 3,290   CoBank ACB, 6.250% (3-Month USD-LIBOR + 4.557%)(a)(d)   342,160 
 1,000   Dairy Farmers of America Inc., 7.875%(b)(d)(e)   101,500 
 49,000   Delphi Financial Group Inc., 3.346% (3-Month USD-LIBOR + 3.190%)(a)(d)   1,090,250 
 11,970   Farm Credit Bank of Texas, 6.750% (3-Month USD-LIBOR + 4.010%)(a)(b)(d)   1,280,790 
     Federal Home Loan Mortgage Corp.:     
 221,075   5.100%*(d)   2,201,907 
 13,873   6.420%*(d)   142,337 
 282,641   Federal National Mortgage Association, 8.250%*(a)(d)   1,800,423 
 144,897   Gladstone Land Corp., 5.000%(d)   3,715,159 
 6,444   GMAC Capital Trust I, 5.941% (3-Month USD-LIBOR + 5.785%)(a)(d)   163,033 
 76,176   Monmouth Real Estate Investment Corp., 6.125%(d)   1,918,112 
 59,120   Morgan Stanley, 5.850% (3-Month USD-LIBOR + 3.491%)(a)(d)   1,716,845 
 15,933   New York Community Bancorp Inc., 6.375% (3-Month USD-LIBOR + 3.821%)(a)(d)   452,497 
 165,902   NGL Energy Partners LP, 9.000% (3-Month USD-LIBOR + 7.213%)(a)(d)   2,266,221 
 49,161   NuStar Energy LP, 7.625% (3-Month USD-LIBOR + 5.643%)(a)(d)   1,030,415 
 6,165   Synchrony Financial, 5.625%(d)   164,606 
 16,234   WESCO International Inc., 10.625% (5-Year CMT Index + 10.325%(a))(d)   510,397 
 6,536   Wintrust Financial Corp., 6.875% (5-Year CMT Index + 6.507%)(a)(d)   185,884 
     Total United States   20,334,628 
     TOTAL PREFERRED STOCKS     
     (Cost - $21,318,518)   22,407,084 
WARRANTS - 0.0%     
Bermuda - 0.0%     
 558,670   McDermott International Ltd.*(e)(f)   5,587 
 502,803   WT PUR COM*(e)(f)   5,028 
     Total Bermuda   10,615 
Brazil – 0.0%     
 58,463   OAS finance Ltd. Warrants*(e)(f)    
Canada – 0.0%     
 79,154   BGP Acquisition Corp.*(e)   64,906 
Israel – 0.0%     
 41,956   Gemmacert Ltd.*    
United States - 0.0%     
 16,698   Hamilton Lane Alliance Holdings I Inc.*(e)   11,356 
 30,026   Isleworth Healthcare Acquisition Corp.*(e)   18,916 
 178,302   Mason Industrial Technology Inc.*(e)   142,642 
 16,680   One Equity Partners Open Water I Corp.*(e)   12,345 
 9,470   RMG Acquisition Corp. III*   8,240 
 25,384   Tailwind International Acquisition Corp.*(e)   17,010 
 24,657   Tailwind Two Acquisition Corp.*(e)   17,506 
     Total United States   228,015 
     TOTAL WARRANTS     
     (Cost - $631,496)   303,536 
     TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS     
     (Cost - $ 715,566,860)   725,028,154 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Global Fixed Income Opportunities Fund (continued)

 

Face
Amount
    Security  Value 
SHORT-TERM INVESTMENTS - 10.9%     
TIME DEPOSITS - 10.9%     
$43,670   ANZ National Bank - London, 0.005% due 6/1/21  $43,670 
 58,018,910   Banco Bilbao Vizcaya Argentaria SA - Madrid, 0.005% due 6/1/21   58,018,910 
 26,591,117   BNP Paribas - Paris, 0.005% due 6/1/21   26,591,117 
     TOTAL TIME DEPOSITS     
     (Cost - $84,653,697)   84,653,697 

 

Shares/Units         
INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING - 0.4%     
MONEY MARKET FUND - 0.4%     
 3,452,317   Federated Government Obligations Fund, Premier Class, 0.025%(j)     
     (Cost - $3,452,317)  $3,452,317 
     TOTAL INVESTMENTS – 104.7%     
     (Cost - $ 803,672,874)   813,134,168 
     Liabilities in Excess of Other Assets - (4.7)%   (36,487,168)
     TOTAL NET ASSETS - 100.0%  $776,647,000 

 

 

#May 28, 2021 represents the last business day of the Fund’s fiscal first quarter.
Face amount denominated in U.S. dollars, unless otherwise noted.
*Non-income producing security.
(a)Variable rate security. Interest rate disclosed is that which was in effect at May 28, 2021.
(b)Restricted security that may be sold to “qualified institutional buyers” pursuant to the conditions of Rule 144A under the Securities Act of 1933, as amended. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees, unless otherwise noted. The aggregate value of restricted 144A holdings at May 28, 2021, amounts to approximately $210,696,524 and represents 27.13% of net assets.
(c)Payment in-kind security for which part of the income earned may be paid as additional principal.
(d)Security is perpetual in nature and has no stated maturity date.
(e)Illiquid security. The aggregate value of illiquid holdings at May 28, 2021, amounts to approximately $53,828,533 and represents 6.93% of net assets.
(f)Security is valued in good faith at fair value by or under the direction of the Board of Trustees using significant unobservable inputs.
(g)Security is currently in default.
(h)This position represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate.
(i)All or a portion of this security is on loan.
(j)Represents investment of collateral received from securities lending transactions.
@Restricted security – Investment in security not registered under the Securities Act of 1933. The investment is deemed to not be liquid and may be sold only to qualified buyers.

 

Security 

First
Acquisition

Date

  

First
Acquisition

Cost

  

Market

Value

  

Percent of

Net Assets

 
QBE Insurance Group Ltd., Subordinated Notes, 6.750% (USD Swap Rate + 4.300%) due 12/2/44   

 

10/2/18

   $2,109,000   $1,470,950    0.19%
UniCredit SpA, Junior Subordinated Notes, 8.000% (5-Year USD Swap Rate + 5.180%)   

 

5/4/17

    328,006    271,613    0.04%
UBS Group AG, Junior Subordinated Notes, 6.875% (5-Year USD Swap Rate + 4.590%)   

 

4/18/17

    1,300,500    1,589,003    0.20%
Total            $3,331,566    0.43%

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Global Fixed Income Opportunities Fund (continued)

 

Abbreviations used in this schedule:  
CMT Constant Maturity Treasury Index  
EURIBOR Euro Interbank Offered Rate  
ICE Intercontinental Exchange  
LIBOR London Interbank Offered Rate  
LLC Limited Liability Company  
LP Limited Partnership  
NIBOR Norwegian Interbank Offered Rate  
PCL Public Company Limited  
PLC Public Limited Company  
SOFR Secured Overnight Financing Rate  
                 

Summary of Investments by Security Type^
Corporate Bonds & Notes   62.3%
Sovereign Bonds   8.1 
Common Stocks   8.1 
Senior Loans   7.9 
Preferred Stocks   2.8 
Warrants   0.0*
Short-Term Investments   10.4 
Money Market Fund   0.4 
    100.0%

 

 

^ As a percentage of total investments.

* Position represents less than 0.05%.

 

Schedule of Options Contracts Written

Equity Options

 

Number of
Contracts
  Notional
Amount
  Security Name  Counterparty  Expiration
Date
  Exercise
Rate
   Value 
333  442,890  CF Finance Acquisition Corp. II   CIBC  7/16/21  $10.00   $73,260 
      TOTAL OPTION CONTRACTS WRITTEN               
      (Premiums received — $53,400)            $73,260 

 

At May 28, 2021, Destinations Global Fixed Income Opportunities Fund had open forward foreign currency contracts as described below.

 

The unrealized appreciation/(depreciation) on the open contracts were as follows:

 

Foreign Currency 

Local

Currency

  Counterparty 

Market

Value

  Settlement
Date
  Unrealized
Appreciation
  Unrealized
(Depreciation)
   Unrealized
Appreciation/
(Depreciation)
 
Contracts to Sell:                            
Euro   19,910,000  BBH  $24,286,174  6/15/21  $  $(58,093)  $(58,093)
Norwegian Krone   65,455,000  BBH   7,829,526  6/15/21   110,011       110,011 
Swedish Krona   8,980,000  BBH   1,081,505  6/15/21      (2,374)   (2,374)
Net Unrealized Appreciation on Open Forward Foreign Currency Contracts  $110,011  $(60,467)  $49,544 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Global Fixed Income Opportunities Fund (concluded)

 

Currency Abbreviations used in this schedule:
EUR Euro
NOK Norwegian Krone
SEK Swedish Krona
 

 
Counterparty Abbreviations used in this schedule:
BBH Brown Brothers Harriman & Co.
CIBC CIBC World Markets Corp.

 

Face Amount†    Security  Value 
SECURITIES SOLD SHORT - 1.3%     
CORPORATE BOND & NOTE - 0.1%     
Consumer Non-cyclical - 0.1%     
$840,000   McKesson Corp., Senior Unsecured Notes, 3.950% due 2/16/28  $946,900 
     (Proceeds - $813,540)     
           
Shares/Units         
EXCHANGE TRADED FUND (ETF) - 1.0%     
 94,084   iShares iBoxx High Yield Corporate Bond   8,202,243 
     (Proceeds - $8,210,716)     
COMMON STOCKS - 0.2%     
ENERGY - 0.1%     
Pipelines - 0.1%     
 23,994   Crestwood Equity Partners LP   687,668 
INDUSTRIAL - 0.1%     
Environmental Control - 0.1%     
 13,400   GFL Environmental Inc.   436,036 
     TOTAL COMMON STOCKS     
     (Proceeds - $882,337)   1,123,704 
     TOTAL SECURITIES SOLD SHORT - 1.3%     
     (Proceeds - $9,906,593)  $10,272,847 

 

 

#May 28, 2021 represents the last business day of the Fund’s fiscal first quarter.
Face amount denominated in U.S. dollars, unless otherwise noted.

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Multi Strategy Alternatives Fund

 
Face
Amount/Units
   Security  Value 
COLLATERALIZED MORTGAGE OBLIGATIONS - 21.6%     
$2,604,381   Alternative Loan Trust, Series 2005-61, Class 2A2, 0.852% (1-Month USD-LIBOR + 0.760%) due 12/25/35(a)  $2,380,156 
 925,954   Bear Stearns ALT-A Trust, Series 2006-8, Class 3A1, 0.412% (1-Month USD-LIBOR + 0.320%) due 2/25/34(a)   898,428 
     Connecticut Avenue Securities Trust:     
 4,320,000   Series 2018-R07, Class 1B1, 4.442% (1-Month USD-LIBOR + 4.350%) due 4/25/31(a)(b)   4,475,787 
 5,451,598   Series 2018-R07, Class 1M2, 2.492% (1-Month USD-LIBOR + 2.400%) due 4/25/31(a)(b)   5,479,122 
 2,930,000   Series 2019-HRP1, Class B1, 9.342% (1-Month USD-LIBOR + 9.250%) due 11/25/39(a)(b)   3,010,966 
 4,180,000   Series 2019-R02, Class 1B1, 4.242% (1-Month USD-LIBOR + 4.150%) due 8/25/31(a)(b)   4,309,338 
 5,880,000   Series 2019-R03, Class 1B1, 4.192% (1-Month USD-LIBOR + 4.100%) due 9/25/31(a)(b)   6,043,799 
 3,024,948   Deutsche Alternative-A Securities Mortgage Loan Trust, Series 2007-OA5, Class A1A, 0.292% (1-Month USD-LIBOR + 0.200%) due 8/25/47(a)   2,846,290 
     Federal National Mortgage Association (FNMA), Connecticut Avenue Securities@:     
 2,206,559   Series 2015-C04, Class 1M2, 5.792% (1-Month USD-LIBOR + 5.700%) due 4/25/28(a)   2,336,320 
 8,070,311   Series 2016-C01, Class 1M2, 6.842% (1-Month USD-LIBOR + 6.750%) due 8/25/28(a)   8,644,946 
 1,558,554   Series 2016-C01, Class 2M2, 7.042% (1-Month USD-LIBOR + 6.950%) due 8/25/28(a)   1,656,823 
 3,165,689   Series 2016-C03, Class 1M2, 5.392% (1-Month USD-LIBOR + 5.300%) due 10/25/28(a)   3,324,976 
 8,480,082   Series 2016-C03, Class 2M2, 5.992% (1-Month USD-LIBOR + 5.900%) due 10/25/28(a)   8,949,456 
 4,101,957   Series 2016-C04, Class 1M2, 4.342% (1-Month USD-LIBOR + 4.250%) due 1/25/29(a)   4,270,698 
 7,219,217   Series 2016-C05, Class 2M2, 4.542% (1-Month USD-LIBOR + 4.450%) due 1/25/29(a)   7,528,462 
 10,460,002   Series 2016-C07, Class 2M2, 4.442% (1-Month USD-LIBOR + 4.350%) due 5/25/29(a)   10,944,058 
 7,060,000   Series 2017-C01, Class 1B1, 5.842% (1-Month USD-LIBOR + 5.750%) due 7/25/29(a)   7,749,350 
 5,747,723   Series 2017-C01, Class 1M2, 3.642% (1-Month USD-LIBOR + 3.550%) due 7/25/29(a)   5,962,598 
 1,800,000   Series 2017-C01, Class 1M2C, 3.642% (1-Month USD-LIBOR + 3.550%) due 7/25/29(a)   1,864,774 
 6,667,264   Series 2017-C02, Class 2M2, 3.742% (1-Month USD-LIBOR + 3.650%) due 9/25/29(a)   6,917,152 
 3,953,249   Series 2017-C02, Class 2M2C, 3.742% (1-Month USD-LIBOR + 3.650%) due 9/25/29(a)   4,091,729 
 3,763,432   Series 2017-C02, Class 2X3, 2.300% due 9/25/29(c)   88,021 
 6,920,000   Series 2017-C03, Class 1B1, 4.942% (1-Month USD-LIBOR + 4.850%) due 10/25/29(a)   7,395,837 
 5,016,110   Series 2017-C03, Class 1M2C, 3.092% (1-Month USD-LIBOR + 3.000%) due 10/25/29(a)   5,117,354 
 8,356,771   Series 2017-C03, Class 1X1, 2.300% due 10/25/29(c)   179,701 
 8,662,107   Series 2017-C05, Class 1M2, 2.292% (1-Month USD-LIBOR + 2.200%) due 1/25/30(a)   8,787,458 
 3,600,000   Series 2017-C06, Class 2B1, 4.542% (1-Month USD-LIBOR + 4.450%) due 2/25/30(a)   3,764,273 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Multi Strategy Alternatives Fund (continued)

 

Face
Amount/Units
   Security  Value 
COLLATERALIZED MORTGAGE OBLIGATIONS - 21.6% (continued)     
$2,557,107   Series 2017-C07, Class 1M2, 2.492% (1-Month USD-LIBOR + 2.400%) due 5/25/30(a)  $2,594,069 
 2,210,024   Series 2017-C07, Class 2M2B, 2.592% (1-Month USD-LIBOR + 2.500%) due 5/25/30(a)   2,232,096 
 15,576,558   Series 2018-C01, Class 1ED5, 2.342% (1-Month USD-LIBOR + 2.250%) due 7/25/30(a)   15,711,721 
 11,509,289   Series 2018-C01, Class 1M2, 2.342% (1-Month USD-LIBOR + 2.250%) due 7/25/30(a)   11,612,482 
 3,528,000   Series 2018-C03, Class 1B1, 3.842% (1-Month USD-LIBOR + 3.750%) due 10/25/30(a)   3,644,705 
 7,337,869   Series 2018-C03, Class 1M2, 2.242% (1-Month USD-LIBOR + 2.150%) due 10/25/30(a)   7,417,182 
 6,546,000   Series 2018-C05, Class 1B1, 4.342% (1-Month USD-LIBOR + 4.250%) due 1/25/31(a)   6,779,652 
 2,665,570   FNBA Mortgage Loan Trust, Series 2004-AR1, Class M2, 1.748% (1-Month USD-LIBOR + 1.650%) due 8/19/34(a)   2,732,782 
     Freddie Mac STACR REMIC Trust:     
 7,670,000   Series 2020-DNA3, Class B1, 5.192% (1-Month USD-LIBOR + 5.100%) due 6/25/50(a)(b)   8,041,215 
 9,000,000   Series 2020-DNA4, Class B1, 6.092% (1-Month USD-LIBOR + 6.000%) due 8/25/50(a)(b)   9,603,033 
 370,145   Series 2020-DNA4, Class M2, 3.842% (1-Month USD-LIBOR + 3.750%) due 8/25/50(a)(b)   373,483 
 3,077,622   Series 2020-DNA4, Class M2AI, 2.250% due 8/25/50(b)(c)   224,411 
 4,936,500   Series 2020-DNA4, Class M2B, 3.842% (1-Month USD-LIBOR + 3.750%) due 8/25/50(a)(b)   4,970,722 
 3,664,485   Series 2020-HQA4, Class M2, 3.242% (1-Month USD-LIBOR + 3.150%) due 9/25/50(a)(b)   3,699,045 
     Freddie Mac STACR Trust:     
 2,384,000   Series 2018-DNA2, Class B1, 3.792% (1-Month USD-LIBOR + 3.700%) due 12/25/30(a)(b)   2,462,562 
 3,580,000   Series 2019-DNA2, Class B1, 4.442% (1-Month USD-LIBOR + 4.350%) due 3/25/49(a)(b)   3,731,883 
     Freddie Mac Structured Agency Credit Risk Debt Notes@:     
 6,864,749   Series 2016-DNA1, Class M3, 5.642% (1-Month USD-LIBOR + 5.550%) due 7/25/28(a)   7,195,410 
 5,125,998   Series 2016-HQA1, Class M3, 6.442% (1-Month USD-LIBOR + 6.350%) due 9/25/28(a)   5,470,050 
 6,972,000   Series 2017-DNA2, Class B1, 5.242% (1-Month USD-LIBOR + 5.150%) due 10/25/29(a)   7,583,609 
 4,935,241   Series 2017-DNA2, Class M2, 3.542% (1-Month USD-LIBOR + 3.450%) due 10/25/29(a)   5,144,669 
 9,445,527   Series 2017-HQA1, Class M2, 3.642% (1-Month USD-LIBOR + 3.550%) due 8/25/29(a)   9,759,507 
 3,041,000   Series 2017-HQA1, Class M2B, 3.642% (1-Month USD-LIBOR + 3.550%) due 8/25/29(a)   3,104,971 
 9,205,888   Series 2017-HQA2, Class M2, 2.742% (1-Month USD-LIBOR + 2.650%) due 12/25/29(a)   9,390,014 
 4,290,000   Series 2017-HQA3, Class B1, 4.542% (1-Month USD-LIBOR + 4.450%) due 4/25/30(a)   4,508,087 
     TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS
(Cost - $262,610,497)
   267,005,232 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Multi Strategy Alternatives Fund (continued)

 

Face
Amount/Units
   Security   Value 
ASSET-BACKED SECURITIES - 11.7%     
$3,500,000   Aames Mortgage Investment Trust, Series 2005-4, Class M3, 0.872% (1-Month USD-LIBOR + 0.780%) due 10/25/35(a)   $3,487,168 
     ABFC Trust:     
 3,037,615   Series 2003-OPT1, Class A3, 0.772% (1-Month USD-LIBOR + 0.680%) due 4/25/33(a)    2,952,690 
 2,172,264   Series 2005-WF1, Class M2, 0.692% (1-Month USD-LIBOR + 0.600%) due 10/25/34(a)    2,157,879 
 1,915,894   Accredited Mortgage Loan Trust, Series 2006-2, Class A4, 0.352% (1-Month USD-LIBOR + 0.260%) due 9/25/36(a)    1,885,522 
     Brookside Mill CLO Ltd.:     
 3,000,000   Series 2013-1A, Class BR, 1.540% (3-Month USD-LIBOR + 1.350%) due 1/17/28(a)(b)    2,987,577 
 410,000   Series 2013-1A, Class ER, 5.690% (3-Month USD-LIBOR + 5.500%) due 1/17/28(a)(b)    376,192 
 1,350,000   Carlyle Global Market Strategies CLO 2015-3 Ltd., Series 2015-3A, Class ER, 8.434% (3-Month USD-LIBOR + 8.250%) due 7/28/28(a)(b)    1,228,663 
 18,646,896   Countrywide Asset-Backed Certificates, Series 2006-22, Class 1A, 0.232% (1-Month USD-LIBOR + 0.140%) due 6/25/35(a)    17,521,878 
 1,247,076   CWABS Asset-Backed Certificates Trust, Series 2007-12, Class 2A3, 0.892% (1-Month USD-LIBOR + 0.800%) due 8/25/47(a)    1,241,626 
 2,243,215   Ellington Loan Acquisition Trust, Series 2007-1, Class A1, 1.192% (1-Month USD-LIBOR + 1.100%) due 5/25/37(a)(b)    2,247,016 
 3,419,052   EquiFirst Mortgage Loan Trust, Series 2003-2, Class 1A1, 1.226% (1-Month USD-LIBOR + 1.125%) due 9/25/33(a)    3,421,961 
 2,433,390   Flatiron CLO 2015-1 Ltd., Series 2015-1A, Class AR, 1.074% (3-Month USD-LIBOR + 0.890%) due 4/15/27(a)(b)    2,433,456 
 5,690,553   Fremont Home Loan Trust, Series 2003-A, Class M1, 1.067% (1-Month USD-LIBOR + 0.975%) due 8/25/33(a)    5,648,746 
 1,648,669   Gallatin CLO VIII 2017-1 Ltd., Series 2017-1A, Class A, 1.484% (3-Month USD-LIBOR + 1.300%) due 7/15/27(a)(b)    1,648,466 
     Home Equity Asset Trust:     
 3,259,975   Series 2004-2, Class M1, 0.887% (1-Month USD-LIBOR + 0.795%) due 7/25/34(a)    3,234,374 
 1,384,560   Series 2005-7, Class M1, 0.767% (1-Month USD-LIBOR + 0.675%) due 1/25/36(a)    1,383,364 
 1,675,116   HSI Asset Securitization Corp. Trust, Series 2006-OPT2, Class M2, 0.677% (1-Month USD-LIBOR + 0.585%) due 1/25/36(a)    1,670,780 
     JP Morgan Mortgage Acquisition Trust:     
 4,300,000   Series 2007-CH4, Class A5, 0.332% (1-Month USD-LIBOR + 0.240%) due 5/25/37(a)    4,256,993 
 947,733   Series 2007-CH5, Class A5, 0.352% (1-Month USD-LIBOR + 0.260%) due 6/25/37(a)    940,597 
 4,663,576   KKR CLO 16 Ltd., Series 16, Class A1R, 1.438% (3-Month USD-LIBOR + 1.250%) due 1/20/29(a)(b)    4,663,564 
 2,700,000   KVK CLO 2018-1 Ltd., Series 2018-1A, Class E, 6.005% (3-Month USD-LIBOR + 5.850%) due 5/20/29(a)(b)    2,510,250 
 7,300,000   Long Beach Mortgage Loan Trust, Series 2005-WL1, Class M4, 1.142% (1-Month USD-LIBOR + 1.050%) due 6/25/35(a)    7,324,809 
 1,300,000   Longfellow Place CLO Ltd., Series 2013-1A, Class ERR, 7.884% (3-Month USD-LIBOR + 7.700%) due 4/15/29(a)(b)    1,283,267 
     Mastr Asset Backed Securities Trust:     
 800,000   Series 2004-FRE1, Class M7, 2.792% (1-Month USD-LIBOR + 2.700%) due 7/25/34(a)    803,425 
 3,361,823   Series 2004-WMC1, Class M1, 0.872% (1-Month USD-LIBOR + 0.780%) due 2/25/34(a)    3,355,758 
     Merrill Lynch Mortgage Investors Trust:     
 1,209,454   Series 2005-FM1, Class M1, 0.812% (1-Month USD-LIBOR + 0.720%) due 5/25/36(a)    1,200,170 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Multi Strategy Alternatives Fund (continued)

 

Face
Amount/Units
   Security  Value 
ASSET-BACKED SECURITIES - 11.7% (continued)     
$3,454,911   Series 2006-OPT1, Class A2C, 0.242% (1-Month USD-LIBOR + 0.150%) due 8/25/37(a)   $3,353,953 
     Nationstar Home Equity Loan Trust:     
 3,797,619   Series 2006-B, Class AV4, 0.372% (1-Month USD-LIBOR + 0.280%) due 9/25/36(a)    3,789,089 
 3,315,149   Series 2007-C, Class 1AV1, 0.267% (1-Month USD-LIBOR + 0.175%) due 6/25/37(a)    3,227,006 
 4,327,472   NovaStar Mortgage Funding Trust, Series 2006-1, Class A2C, 0.412% (1-Month USD-LIBOR + 0.320%) due 5/25/36(a)    4,263,465 
 940,453   Option One Mortgage Loan Trust, Series 2005-3, Class M2, 0.827% (1-Month USD-LIBOR + 0.735%) due 8/25/35(a)    939,212 
 2,936,508   Park Place Securities Inc., Series 2005-WCW1, Class M2, 0.797% (1-Month USD-LIBOR + 0.705%) due 9/25/35(a)    2,941,296 
     Park Place Securities Inc. Asset-Backed Pass-Through Certificates:     
 3,600,000   Series 2005-WCH1, Class M5, 1.412% (1-Month USD-LIBOR + 1.320%) due 1/25/36(a)    3,600,452 
 2,738,831   Series 2005-WCW2, Class M2, 0.887% (1-Month USD-LIBOR + 0.795%) due 7/25/35(a)    2,737,745 
 3,500,000   People's Choice Home Loan Securities Trust, Series 2005-1, Class M5, 1.592% (1-Month USD-LIBOR + 1.500%) due 1/25/35(a)    2,914,825 
 4,102,010   Soundview Home Loan Trust, Series 2006-EQ1, Class A3, 0.252% (1-Month USD-LIBOR + 0.160%) due 10/25/36(a)    4,081,199 
 380,000   Steele Creek CLO 2016-1 Ltd., Series 2016-1A, Class ER, 5.934% (3-Month USD-LIBOR + 5.750%) due 6/15/31(a)(b)    334,400 
 2,145,318   Structured Asset Investment Loan Trust, Series 2004-7, Class A7, 0.932% (1-Month USD-LIBOR + 0.840%) due 8/25/34(a)    2,142,493 
     Structured Asset Securities Corp. Mortgage Loan Trust:     
 1,000,000   Series 2005-WF4, Class M6, 1.097% (1-Month USD-LIBOR + 1.005%) due 11/25/35(a)    986,754 
 2,600,000   Series 2005-WF4, Class M8, 2.717% (1-Month USD-LIBOR + 2.625%) due 11/25/35(a)    2,648,998 
 11,181,847   Series 2006-BC6, Class A1, 0.252% (1-Month USD-LIBOR + 0.160%) due 1/25/37(a)    10,974,112 
 2,223,437   Series 2006-BC6, Class A4, 0.262% (1-Month USD-LIBOR + 0.170%) due 1/25/37(a)   2,211,588 
 2,657,019   Series 2006-GEL1, Class M2, 1.292% (1-Month USD-LIBOR + 1.200%) due 11/25/35(a)(b)   2,658,476 
 3,159,076   Series 2006-GEL1, Class M3, 3.467% (1-Month USD-LIBOR + 3.375%) due 11/25/35(a)(b)   2,943,857 
 4,682,444   Terwin Mortgage Trust, Series 2006-5, Class 1A2B, 0.302% (1-Month USD-LIBOR + 0.210%) due 7/25/37(a)(b)   4,625,500 
 620,000   Trinitas CLO III Ltd., Series 2015-3A, Class E, 5.434% (3-Month USD-LIBOR + 5.250%) due 7/15/27(a)(b)   574,084 
 1,030,000   Venture XVIII CLO Ltd., Series 2014-18A, Class ER, 6.774% (3-Month USD-LIBOR + 6.590%) due 10/15/29(a)(b)   988,967 
     TOTAL ASSET-BACKED SECURITIES
(Cost - $139,342,661)
   144,803,662 
CORPORATE BONDS & NOTES - 7.8%     
Communications - 0.5%     
 6,446,000   Cincinnati Bell Inc., Company Guaranteed Notes, 7.000% due 7/15/24(b)(d)   6,639,380 
Consumer Cyclical - 3.0%     
 8,765,000   Arrow Bidco LLC, Senior Secured Notes, 9.500% due 3/15/24(b)(d)   8,600,656 
 12,550,000   Cinemark USA Inc., Company Guaranteed Notes, 4.875% due 6/1/23(d)   12,562,550 
 7,800,000   Guitar Center Inc., Senior Secured Notes, 8.500% due 1/15/26(b)(d)   8,268,000 
 7,800,000   LSF9 Atlantis Holdings LLC/Victra Finance Corp., Senior Secured Notes, 7.750% due 2/15/26(b)(d)   7,940,712 
     Total Consumer Cyclical   37,371,918 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Multi Strategy Alternatives Fund (continued)

 

Face
Amount/Units
   Security  Value 
CORPORATE BONDS & NOTES - (continued)     
Consumer Non-cyclical - 0.5%     
$916,000   Cytokinetics Inc., Senior Unsecured Notes, 4.000% due 11/15/26  $2,055,321 
 5,490,000   Progenity Inc., Senior Unsecured Notes, 7.250% due 12/1/25(b)   3,785,880 
     Total Consumer Non-cyclical   5,841,201 
Energy - 0.5%        
 5,883,375   Transocean Pontus Ltd., Senior Secured Notes, 6.125% due 8/1/25(b)   5,839,250 
Financial - 2.4%       
 8,756,000   ILFC E-Capital Trust I, Limited Guaranteed Notes, 4.000% due 12/21/65(a)(b)(d)   7,344,533 
 13,243,000   JPMorgan Chase & Co., Junior Subordinated Notes, 3.656% (3-Month USD-LIBOR + 3.470%) (a)(d)(e)   13,193,339 
 11,627,000   USB Realty Corp., Junior Subordinated Notes, 1.331% (3-Month USD-LIBOR + 1.147%) (a)(b)(d)(e)   9,127,195 
     Total Financial   29,665,067 
Industrial - 0.9%       
 9,563,000   Fortress Transportation & Infrastructure Investors LLC, Senior Unsecured Notes, 9.750% due 8/1/27(b)(d)   11,033,311 
     TOTAL CORPORATE BONDS & NOTES
(Cost - $93,711,562)
   96,390,127 
          
Shares/Units         
COMMON STOCKS - 32.4%     
COMMUNICATIONS - 4.0%     
Media - 2.0%       
 268,605   Altice USA Inc., Class A Shares*   9,685,896 
 346,167   Liberty Media Corp.-Liberty SiriusXM*   15,113,651 
     Total Media   24,799,547 
Telecommunications - 2.0%       
 1,138,767   HC2 Holdings Inc.*(f)   4,555,068 
 331,746   Telephone & Data Systems Inc.   8,532,507 
 80,106   T-Mobile US Inc.*   11,330,994 
     Total Telecommunications   24,418,569 
     TOTAL COMMUNICATIONS   49,218,116 
CONSUMER CYCLICAL - 1.4%     
Entertainment - 1.4%       
 396,546   Golden Entertainment Inc.*(d)   16,908,722 
CONSUMER NON-CYCLICAL - 8.6%     
Biotechnology - 4.4%       
 68,636   Alexion Pharmaceuticals Inc.*   12,117,686 
 41,014   Ascendis Pharma AS, ADR*(d)   5,511,461 
 576,574   Crinetics Pharmaceuticals Inc.*   10,118,874 
 481,743   Relay Therapeutics Inc.*(d)   15,473,585 
 121,607   SpringWorks Therapeutics Inc.*   9,915,835 
 202,993   Trillium Therapeutics Inc.*(f)   1,617,854 
     Total Biotechnology   54,755,295 
Healthcare-Products - 1.2%       
 210,298   Alphatec Holdings Inc.*   3,049,321 
 100,399   Avita Medical Inc.*   1,813,206 
 54,523   Itamar Medical Ltd., ADR*   1,116,631 
 190,196   Progenity Inc.*(f)   492,608 
 393,649   SeaSpine Holdings Corp.*   8,022,566 
     Total Healthcare-Products   14,494,332 
Healthcare-Services - 1.2%     
 494,301   Invitae Corp.*(d)(f)   14,225,983 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Multi Strategy Alternatives Fund (continued)

 

Shares/Units   Security  Value 
COMMON STOCKS - (continued) 
CONSUMER NON-CYCLICAL - 8.6% - (continued) 
Pharmaceuticals - 1.8% 
 340,710   Curaleaf Holdings Inc.*  $5,021,520 
 667,177   Cytokinetics Inc.*(d)   14,564,474 
 106,834   Merus NV*   2,259,539 
     Total Pharmaceuticals   21,845,533 
     TOTAL CONSUMER NON-CYCLICAL   105,321,143 
DIVERSIFIED – 9.7%       
SPACs - 8.8%        
 266,860   BCTG Acquisition Corp.*(f)   2,962,146 
 310,840   Class Acceleration Corp., Class A Shares*   3,021,365 
 386,550   CM Life Sciences II Inc., Class A Shares*(g)   4,870,530 
 439,830   CM Life Sciences II Inc.*(g)(h)@   5,541,858 
 441,600   CM Life Sciences III Inc.*   4,711,872 
 43,574   CM Life Sciences Inc., Class A Shares*(f)   551,647 
 489,000   CM Life Sciences Inc., Class A Shares*(g)(h)@   6,190,740 
 538,860   Corazon Capital V838 Monoceros Corp.*(g)   5,388,600 
 78,410   Deep Lake Capital Acquisition Corp.*   759,793 
 992,028   EJF Acquisition Corp., Class A Shares*(g)   9,533,389 
 431,882   Empower Ltd., Class A Shares*   4,344,733 
 131,699   FG New America Acquisition Corp., Class A Shares*(f)   1,330,160 
 937,446   Jack Creek Investment Corp., Class A Shares*   9,018,231 
 561,397   L&F Acquisition Corp., Class A Shares*   5,574,672 
 1,003,370   Landcadia Holdings III Inc., Class A Shares*(f)   10,585,553 
 219,849   Live Oak Mobility Acquisition Corp.*   2,198,490 
 770,900   Longview Acquisition Corp. II*   7,809,217 
 883,605   Montes Archimedes Acquisition Corp., Class A Shares*(d)   8,703,509 
 170,595   Mudrick Capital Acquisition Corp. II, Class A Shares*(f)   2,328,622 
 464,904   Senior Connect Acquisition Corp. I, Class A Shares*   4,504,920 
 772,800   Soaring Eagle Acquisition Corp.*   7,944,384 
 438,892   Tekkorp Digital Acquisition Corp., Class A Shares*   4,287,975 
 263,615   Thayer Ventures Acquisition Corp., Class A Shares*   2,617,697 
 310,520   Tishman Speyer Innovation Corp. II, Class A Shares*   3,067,938 
 232,340   Z-Work Acquisition Corp., Class A Shares*   2,242,081 
     Total SPACs   120,090,122 
     TOTAL DIVERSIFIED   120,090,122 
FINANCIAL – 6.6%       
Banks - 3.7%       
 1,021,356   Eastern Bankshares Inc.(d)   22,878,374 
 790,724   HarborOne Bancorp Inc.   11,742,251 
 870,071   Kearny Financial Corp.   11,406,631 
     Total Banks   46,027,256 
Equity Real Estate Investment Trusts (REITs) - 2.0%     
 485,254   Equity Commonwealth   13,315,370 
 305,159   MGM Growth Properties LLC, Class A Shares(d)   10,946,053 
     Total Equity Real Estate Investment Trusts (REITs)   24,261,423 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Multi Strategy Alternatives Fund (continued)

 

Shares/Units   Security   Value 
COMMON STOCKS - (continued)     
FINANCIAL – 6.6% - (continued)     
Savings & Loans - 0.9%       
 399,817   Berkshire Hills Bancorp Inc.  $11,094,921 
     TOTAL FINANCIAL   81,383,600 
INDUSTRIAL - 1.0%       
Transportation - 1.0%       
 89,437   XPO Logistics Inc.*   13,140,979 
TECHNOLOGY - 1.1%    
Computers - 0.1%       
 92,556   iCAD Inc.*   1,522,546 
Software - 1.0%       
 270,362   Slack Technologies Inc., Class A Shares*(d)   11,906,743 
     TOTAL TECHNOLOGY   13,429,289 
     TOTAL COMMON STOCKS
(Cost - $343,314,339)
   399,491,971 
OPEN-END FUND - 18.7%       
 19,975,228   JPMorgan Strategic Income Opportunities Fund, Class R6 Shares
(Cost - $230,862,478)
   230,713,882 
PREFERRED STOCKS - 1.1%     
COMMUNICATIONS - 0.2%     
Telecommunications - 0.2%       
 77,001   Telephone & Data Systems Inc., 6.625%*(e)   2,117,528 
CONSUMER CYCLICAL - 0.7%     
Retail - 0.7%       
 85,000   Qurate Retail Inc., 8.000%   8,974,300 
FINANCIAL - 0.2%       
Financial Services - 0.2%     
 1,210,522   14ner Oncology Inc.*(g)(h)@   2,311,250 
     TOTAL PREFERRED STOCKS
(Cost - $12,730,173)
   13,403,078 
CLOSED-END FUND - 0.5%     
 230,533   Fortress Transportation & Infrastructure Investors LLC, Class Common Shares
(Cost - $4,437,586)
   6,740,785 
WARRANTS - 0.1%       
DIVERSIFIED - 0.1%       
SPACs - 0.1%        
 155,420   Class Acceleration Corp.*(g)   87,035 
 77,310   CM Life Sciences II Inc.*(g)   280,635 
 39,205   Deep Lake Capital Acquisition Corp.*(g)   27,447 
 330,676   EJF Acquisition Corp.*(g)   222,247 
 26,187   ION Acquisition Corp. 1 Ltd.*(g)   48,970 
 468,723   Jack Creek Investment Corp.*(g)   314,044 
 244,085   L&F Acquisition Corp.*(g)   156,239 
 441,802   Montes Archimedes Acquisition Corp.*(g)   600,851 
 232,452   Senior Connect Acquisition Corp. I*(g)   153,418 
 219,657   Tekkorp Digital Acquisition Corp.*(g)   197,691 
 131,807   Thayer Ventures Acquisition Corp.*(g)   113,354 
 62,104   Tishman Speyer Innovation Corp. II*(g)   73,904 
 162,182   TS Innovation Acquisitions Corp.*(g)   377,884 
 23,299   X4 Pharmaceuticals Inc.*   466 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Multi Strategy Alternatives Fund (continued)

 

Shares/Units   Security   Value 
WARRANTS - (continued)     
DIVERSIFIED - 0.1% - (continued)     
SPACs - 0.1% - (continued)       
 77,446   Z-Work Acquisition Corp.*(g)  $55,769 
     Total SPACs   2,709,954 
     TOTAL DIVERSIFIED   2,709,954 
     TOTAL WARRANTS     
     (Cost - $3,127,545)   2,709,954 

 

Number of
Contracts
Notional
Amounts
       
PURCHASED SWAPTION - 0.2%
Interest Rate Swaption - 0.2%     
90,000,000  117,000  10-Year Constant Maturity Swap, 3-Month USD-LIBOR, Call, 2.25, expires 5/22/23   2,671,069 
      TOTAL PURCHASED SWAPTION
(Cost - $2,029,500)
   2,671,069 
      TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS
(Cost - $1,092,166,341)
   1,163,929,760 

 

Face
Amount †
        
SHORT-TERM INVESTMENTS - 4.4% 
TIME DEPOSITS - 4.4%     
 29,219,684   BNP Paribas - Paris, 0.005% due 6/1/21   29,219,684 
 25,094,359   Skandinaviska Enskilda Banken AB - Stockholm, 0.005% due 6/1/21   25,094,359 
     TOTAL TIME DEPOSITS     
     (Cost - $54,314,043)   54,314,043 
          
Shares/Units         
INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING - 1.6%     
MONEY MARKET FUND - 1.6%     
 19,402,415   Federated Government Obligations Fund, Premier Class, 0.025%(i)     
     (Cost - $19,402,415)  $19,402,415 
     TOTAL INVESTMENTS - 100.1%
(Cost - $1,165,882,799)
   1,237,646,218 
     Liabilities in Excess of Other Assets - (0.1)%   (1,031,893)
     TOTAL NET ASSETS - 100.0%  $1,236,614,325 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Multi Strategy Alternatives Fund (continued)

 

#May 28, 2021 represents the last business day of the Fund’s fiscal first quarter.
*Non-income producing security.
(a)Variable rate security. Interest rate disclosed is that which was in effect at May 28, 2021.
(b)Restricted security that may be sold to “qualified institutional buyers” pursuant to the conditions of Rule 144A under the Securities Act of 1933, as amended. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees, unless otherwise noted. The aggregate value of restricted 144A holdings at May 28, 2021, amounts to approximately $156,508,018 and represents 12.66% of net assets.
(c)Interest only security.
(d)All or a portion of this security is pledged by the Fund as collateral for short sales or derivative transactions.
(e)Security is perpetual in nature and has no stated maturity date.
(f)All or a portion of this security is on loan.
(g)Illiquid security. The aggregate value of illiquid holdings at May 28, 2021, amounts to approximately $36,545,855 and represents 2.96% of net assets.
(h)Security is valued in good faith at fair value by or under the direction of the Board of Trustees using significant unobservable inputs.
(i)Represents investment of collateral received from securities lending transactions.
@Restricted security – Investment in security not registered under the Securities Act of 1933. The investment is deemed to not be liquid and may be sold only to qualified buyers.

 

Security  First
Acquisition
Date
  First
Acquisition
Cost
   Market
Value
   Percent of
Net Assets
 
14ner Oncology Inc.  11/10/2020  $2,311,250   $2,311,250    0.19%
CM Life Sciences Inc., Class A Shares  2/9/2021   4,890,000    6,190,740    0.50%
CM Life Sciences II Inc.  3/29/2021   4,398,300    5,541,858    0.45%
Federal National Mortgage Association (FNMA), Connecticut Avenue Securities:                  
Series 2015-C04, Class 1M2, 5.792% (1-Month USD-LIBOR + 5.700%) due 4/25/28  3/26/2020   2,461,077    2,336,320    0.19%
Series 2016-C01, Class 1M2, 6.842% (1-Month USD-LIBOR + 6.750%) due 8/25/28  3/6/2020   1,335,384    8,644,946    0.70%
Series 2016-C01, Class 2M2, 7.042% (1-Month USD-LIBOR + 6.950%) due 8/25/28  6/17/2020   938,897    1,656,823    0.13%
Series 2016-C03, Class 1M2, 5.392% (1-Month USD-LIBOR + 5.300%) due 10/25/28  3/19/2020   1,066,978    3,324,976    0.27%
Series 2016-C03, Class 2M2, 5.992% (1-Month USD-LIBOR + 5.900%) due 10/25/28  3/17/2020   2,941,204    8,949,456    0.72%
Series 2016-C04, Class 1M2, 4.342% (1-Month USD-LIBOR + 4.250%) due 1/25/29  2/25/2021   263,109    4,270,698    0.35%
Series 2016-C05, Class 2M2, 4.542% (1-Month USD-LIBOR + 4.450%) due 1/25/29  4/26/2019   5,497,400    7,528,462    0.61%
Series 2016-C07, Class 2M2, 4.442% (1-Month USD-LIBOR + 4.350%) due 5/25/29  5/9/2019   4,217,292    10,944,058    0.89%
Series 2017-C01, Class 1B1, 5.842% (1-Month USD-LIBOR + 5.750%) due 7/25/29  11/17/2020   2,739,200    7,749,350    0.63%
Series 2017-C01, Class 1M2, 3.642% (1-Month USD-LIBOR + 3.550%) due 7/25/29  11/24/2020   895,148    5,962,598    0.48%
Series 2017-C01, Class 1M2C, 3.642% (1-Month USD-LIBOR + 3.550%) due 7/25/29  4/16/2020   1,494,000    1,864,774    0.15%
Series 2017-C02, Class 2M2, 3.742% (1-Month USD-LIBOR + 3.650%) due 9/25/29  8/20/2019   471,252    6,917,152    0.56%
Series 2017-C02, Class 2M2C, 3.742% (1-Month USD-LIBOR + 3.650%) due 9/25/29  5/19/2020   867,500    4,091,729    0.33%
Series 2017-C02, Class 2X3, 2.300% due 9/25/29  2/11/2021   101,032    88,021    0.01%
Series 2017-C03, Class 1B1, 4.942% (1-Month USD-LIBOR + 4.850%) due 10/25/29  1/12/2021   6,145,425    7,395,837    0.60%

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Multi Strategy Alternatives Fund (continued)

 

Security  First
Acquisition
Date
  First
Acquisition
Cost
   Market
Value
   Percent of
Net Assets
 
Series 2017-C03, Class 1M2C, 3.092% (1-Month USD-LIBOR + 3.000%) due 10/25/29  2/16/2021   5,091,552    5,117,354    0.41%
Series 2017-C03, Class 1X1, 2.300% due 10/25/29  2/16/2021   181,485    179,701    0.01%
Series 2017-C05, Class 1M2, 2.292% (1-Month USD-LIBOR + 2.200%) due 1/25/30  9/13/2019   4,239,102    8,787,458    0.71%
Series 2017-C06, Class 2B1, 4.542% (1-Month USD-LIBOR + 4.450%) due 2/25/30  4/20/2021   3,755,250    3,764,273    0.30%
Series 2017-C07, Class 1M2, 2.492% (1-Month USD-LIBOR + 2.400%) due 5/25/30  8/3/2020   2,199,720    2,594,069    0.21%
Series 2017-C07, Class 2M2B, 2.592% (1-Month USD-LIBOR + 2.500%) due 5/25/30  4/20/2021   2,258,180    2,232,096    0.18%
Series 2018-C01, Class 1ED5, 2.342% (1-Month USD-LIBOR + 2.250%) due 7/25/30  1/25/2021   16,072,145    15,711,721    1.27%
Series 2018-C01, Class 1M2, 2.342% (1-Month USD-LIBOR + 2.250%) due 7/25/30  9/11/2019   849,450    11,612,482    0.94%
Series 2018-C03, Class 1B1, 3.842% (1-Month USD-LIBOR + 3.750%) due 10/25/30  4/7/2021   3,599,409    3,644,705    0.29%
Series 2018-C03, Class 1M2, 2.242% (1-Month USD-LIBOR + 2.150%) due 10/25/30  12/18/2019   11,086,797    7,417,182    0.60%
Series 2018-C05, Class 1B1, 4.342% (1-Month USD-LIBOR + 4.250%) due 1/25/31  10/22/2020   1,499,569    6,779,652    0.55%
Freddie Mac Structured Agency Credit Risk Debt Notes:                  
Series 2016-DNA1, Class M3, 5.642% (1-Month USD-LIBOR + 5.550%) due 7/25/28  6/9/2020   7,088,847    7,195,410    0.58%
Series 2016-HQA1, Class M3, 6.442% (1-Month USD-LIBOR + 6.350%) due 9/25/28  3/6/2020   2,934,641    5,470,050    0.44%
Series 2017-DNA2, Class B1, 5.242% (1-Month USD-LIBOR + 5.150%) due 10/25/29  11/9/2020   1,238,884    7,583,609    0.61%
Series 2017-DNA2, Class M2, 3.542% (1-Month USD-LIBOR + 3.450%) due 10/25/29  3/9/2020   2,041,353    5,144,669    0.42%
Series 2017-HQA1, Class M2, 3.642% (1-Month USD-LIBOR + 3.550%) due 8/25/29  9/9/2019   4,467,906    9,759,507    0.79%
Series 2017-HQA1, Class M2B, 3.642% (1-Month USD-LIBOR + 3.550%) due 8/25/29  8/4/2020   2,913,183    3,104,971    0.25%
Series 2017-HQA2, Class M2, 2.742% (1-Month USD-LIBOR + 2.650%) due 12/25/29  11/18/2019   6,234,469    9,390,014    0.76%
Series 2017-HQA3, Class B1, 4.542% (1-Month USD-LIBOR + 4.450%) due 4/25/30  4/29/2021   4,504,500    4,508,087    0.37%
           $215,766,058    17.45%

 

Abbreviations used in this schedule:
ABS Asset-Based Security
ADR American Depositary Receipts
CLO Collateralized Loan Obligation
LIBOR London Interbank Offered Rate
LLC Limited Liability Company
PLC Public Limited Company
SPDR Standard & Poor's Depository Receipts
SPACs Special Purpose Acquisition Companies

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Multi Strategy Alternatives Fund (continued)

 

Summary of Investments by Security Type^

Common Stocks   32.3%
Collateralized Mortgage Obligations   21.6 
Open-End Fund   18.6 
Asset-Backed Securities   11.7 
Corporate Bonds & Notes   7.8 
Preferred Stocks   1.1 
Closed-End Fund   0.5 
Warrants   0.2 
Purchased Swaption   0.2 
Short-Term Investments   4.4 
Money Market Fund   1.6 
    100.0%

 

 

^ As a percentage of total investments.

 

Schedule of Options Contracts Written

Interest Rate Swaptions

 

Number of
Contracts
   Notional
Amount
   Security Name  Counterparty  Expiration
Date
  Exercise
Rate
   Value 
90,000,000   117,000   10-Year Constant Maturity Swap, 3-Month USD-LIBOR, Call  MSCS  5/22/23  $3.25   $835,729 
        TOTAL SWAPTION CONTRACTS WRITTEN      $835,729 

 

At May 28, 2021, Destinations Multi Strategy Alternatives Fund held the following OTC and Centrally Cleared Credit Default Swap Contracts:

 

OTC Credit Default Swaps on Corporate and Sovereign Issues - Sell Protection (1)

 

Reference
Obligation*
  Fixed
Deal
Receive
Rate
  Maturity
Date
  Payment
Frequency
  Counterparty  Implied Credit
Spread at 5/28/21(2)
  Notional
Amounts in
(000’s) (3)
  Market
Value
   Upfront
Premiums
Paid/(Received)
   Unrealized
Appreciation
 
CDX.NA.IG.29  1.000%  12/20/22  3-Month  GSC  0.151%  USD  100,000  $1,793,020   $1,440,000   $353,020 
CDX.NA.IG.31  1.000%  12/20/23  3-Month  GSC  0.955%  USD  30,000   93,896    (1,956,000)   2,049,896 
CDX.NA.IG.33  1.000%  12/20/24  3-Month  MSCS  1.666%  USD  40,000   (785,955)   (6,462,000)   5,676,045 
CDX.NA.HY.35  5.000%  12/20/25  3-Month  MSCS  3.539%  USD  10,000   739,006    405,000    334,006 
CDX.NA.IG.35  1.000%  12/20/25  3-Month  GSC  1.773%  USD  10,000   (300,818)   (905,000)   604,182 
                        $1,539,149   $(7,478,000)  $9,017,149 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Multi Strategy Alternatives Fund (continued)

 

(1) If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.

 

(2) Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues or sovereign issues of on emerging country as of period end serve as indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. A credit spread identified as “Defaulted” indicates a credit event has occurred for the referenced entity or obligation.

 

(3) The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.

 

* Fund will pay or receive the volatility of the reference asset depending on whether the realized volatility of the reference asset exceeds or is less than the fixed rate. For contracts where the Fund has elected to receive the volatility of the reference asset, it will receive a net payment of the difference between the realized volatility and the fixed rate multiplied by the notional amount if the realized volatility exceeds the fixed rate; the Fund will make a net payment of the absolute value of the difference of the realized volatility and the fixed rate multiplied by the notional amount if the realized volatility is less than the fixed rate. For contracts where the Fund has elected to pay the volatility of the reference asset, it will make a net payment of the difference between the realized volatility and the fixed rate multiplied by the notional amount if the realized volatility exceeds the fixed rate; the Fund will receive a net payment of the absolute value of the difference of the realized and the fixed rate multiplied by the notional amount if the realized volatility is less than the fixed rate.

 

Counterparty Abbreviations used in this schedule:
GSC Goldman Sachs & Co.
MSCS Morgan Stanley Capital Services LLC

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Multi Strategy Alternatives Fund (concluded)

 

Shares/Units Security Value
SECURITIES SOLD SHORT - 13.1%   
EXCHANGE TRADED FUNDS (ETFs) - 9.8%   
 119,539  ARK Genomic Revolution $9,772,313
 82,618  iShares Nasdaq Biotechnology  12,553,805
 685,436  SPDR S&P Biotech  87,804,351
 158,004  SPDR S&P Regional Banking  11,169,303
    Total Exchange Traded Funds (ETFs)  121,299,772
    TOTAL EXCHANGE TRADED FUNDS (ETFs)
(Proceeds - $119,161,460)
 121,299,772
COMMON STOCKS - 3.3%   
COMMUNICATIONS - 1.7%   
Media - 1.7%   
 3,261,506  Sirius XM Holdings Inc.  20,384,412
Telecommunications - 0.0%   
 14,544  Cincinnati Bell Inc.*  223,978
    TOTAL COMMUNICATIONS  20,608,390
CONSUMER CYCLICAL - 0.5%   
Entertainment - 0.5%   
 71,781  Live Nation Entertainment Inc.*  6,468,186
CONSUMER NON-CYCLICAL - 0.7%   
Pharmaceuticals - 0.7%   
 145,723  AstraZeneca PLC, ADR  8,272,695
 5,938  Herbalife Nutrition Ltd.*  312,161
    Total Pharmaceuticals  8,584,856
    TOTAL CONSUMER NON-CYCLICAL  8,584,856
TECHNOLOGY - 0.4%   
Software - 0.4%   
 20,908  salesforce.com Inc.*  4,978,195
    TOTAL COMMON STOCKS
(Proceeds - $38,938,805)
 40,639,627
    TOTAL SECURITIES SOLD SHORT - 13.1%
(Proceeds - $158,100,265)
 161,939,399

 

 

# May 28, 2021 represents the last business day of the Fund’s fiscal first quarter.

* Non-income producing security.

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund

 

Face
Amount
   Rating††  Security  Value 
MUNICIPAL BONDS - 87.6%     
Alabama - 2.0%     
$6,000,000   AA  Alabama Public School & College Authority, Revenue Bonds, Series A, 5.000% due 11/1/31  $8,101,536 
 2,000,000   AA-  Auburn University, Revenue Bonds, Series A, 5.000% due 6/1/35   2,506,237 
 2,540,000   A2(a)  Lower Alabama Gas District, Revenue Bonds, 4.000% due 12/1/50(b)   2,889,448 
        Mobile County Board of School Commissioners, Special Tax:     
 260,000   A-  5.000% due 3/1/28   310,356 
 175,000   A-  5.000% due 3/1/29   208,271 
 180,000   A-  5.000% due 3/1/30   214,100 
 185,000   A-  5.000% due 3/1/31   219,921 
 145,000   A-  5.000% due 3/1/32   172,340 
 215,000   A-  5.000% due 3/1/33   255,625 
 3,500,000   A1(a)  Southeast Alabama Gas Supply District, Revenue Bonds, Series A, 4.000% due 6/1/49(b)   3,845,803 
        Total Alabama   18,723,637 
Alaska - 0.2%            
 1,000,000   AA+  Alaska Housing Finance Corp., Revenue Bonds, Series A, 5.000% due 6/1/30   1,227,026 
 215,000   AA-  State of Alaska, GO, Series A, 5.000% due 8/1/33   251,353 
        Total Alaska   1,478,379 
Arizona - 3.7%            
        Arizona Department of Transportation State Highway Fund Revenue, Revenue Bonds:     
 5,000,000   AA+  5.000% due 7/1/27   6,097,940 
 3,810,000   AA+  5.000% due 7/1/34   4,591,495 
 2,000,000   AA  Arizona State University, Revenue Bonds, Series A, 5.000% due 7/1/39   2,565,896 
 1,800,000   A+  Chandler Industrial Development Authority, Revenue Bonds, 5.000% due 6/1/49(b)(c)   2,038,069 
 65,000   AA  City of Glendale AZ, GO, AGM-Insured, 4.000% due 7/1/21   65,203 
        City of Glendale AZ, Revenue Bonds, AGM:     
 105,000   AA  Series A, 5.000% due 7/1/23   115,011 
 230,000   AA  Series A, 5.000% due 7/1/27   269,021 
 215,000   AA  Series A, 5.000% due 7/1/28   250,721 
 235,000   AA  Series A, 5.000% due 7/1/29   273,325 
 85,000   AA  Series A, 5.000% due 7/1/32   103,922 
        City of Glendale AZ Transportation Excise Tax Revenue, Revenue Bonds, AGM:     
 55,000   AA  5.000% due 7/1/24   62,916 
 105,000   AA  5.000% due 7/1/26   123,601 
        City of Phoenix Civic Improvement Corp., Revenue Bonds:     
 65,000   A+  Series A, 5.000% due 7/1/27(c)   80,950 
 90,000   A+  Series A, 5.000% due 7/1/28(c)   111,183 
 6,365,000   AAA  Series B, 4.000% due 7/1/29   7,016,574 
 30,000   AAA  Series C, 5.000% due 7/1/21   30,119 
 1,000,000   AAA  City of Scottsdale AZ, GO, 5.000% due 7/1/23   1,101,060 
 160,000   A+  Coconino County Pollution Control Corp., Revenue Bonds, 1.875% due 9/1/32(b)(c)   164,063 
        County of Pima AZ Sewer System Revenue, Revenue Bonds:     
 15,000   AA  Series A, 5.000% due 7/1/22   15,785 
 30,000   AA  Series A, 5.000% due 7/1/23   31,571 
 60,000   AA  Series B, Prerefunded 7/1/21 @ 100, 5.000% due 7/1/25(d)   60,238 
 820,000   AAA  Maricopa County Community College District, GO, Series D, 4.250% due 7/1/25   822,760 
        Maricopa County Industrial Development Authority, Revenue Bonds:     
 800,000   AA-  5.000% due 1/1/46(b)   969,759 
 200,000   A2(a)  5.000% due 7/1/47   248,700 
 190,000   AA-  Series A, 4.000% due 1/1/24   208,072 
 70,000   AA-  Series A, 5.000% due 1/1/22   71,972 
 145,000   AA-  Series A, 5.000% due 1/1/23   156,055 
 60,000   AA-  Series A, 5.000% due 1/1/24   67,248 

 

See Notes to Financial Statements.

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount
  Rating††  Security  Value 
MUNICIPAL BONDS - (continued)     
Arizona - 3.7% - (continued)     
$225,000   AA-  Series A, 5.000% due 1/1/25  $261,613 
 735,000   A2(a)  Series B, 5.000% due 9/1/45(b)   849,035 
 430,000   AA-  Series B, 5.000% due 1/1/48(b)   457,703 
 290,000   AA-  Series C, 5.000% due 1/1/48(b)   335,128 
 50,000   AA-  McAllister Academic Village LLC, Revenue Bonds, 5.000% due 7/1/21   50,196 
        Salt River Project Agricultural Improvement & Power District, Revenue Bonds:     
 2,000,000   AA+  Series A, 5.000% due 1/1/29   2,567,353 
 145,000   AA+  Series A, 5.000% due 1/1/33   181,689 
        State of Arizona, COP:     
 215,000   AA-  Series A, 5.000% due 10/1/21   218,486 
 225,000   AA-  Series A, 5.000% due 10/1/22   239,726 
 300,000   AA-  Series A, 5.000% due 10/1/23   333,310 
 310,000   AA-  Series A, 5.000% due 10/1/24   357,751 
 560,000   AA-  Western Maricopa Education Center District No 402, GO, Series B, 4.000% due 7/1/21   561,743 
        Total Arizona   34,126,962 
Arkansas - 0.0%     
 90,000   Aa2(a)  Little Rock School District, GO, 3.000% due 2/1/22   91,711 
              
California - 5.8%        
 60,000   A-  Alameda Corridor Transportation Authority, Revenue Bonds, Series A, 5.000% due 10/1/23   66,439 
        Bay Area Toll Authority, Revenue Bonds:     
 210,000   AA  Series B, 2.850% due 4/1/47(b)   227,118 
 195,000   AA  Series C, 2.100% due 4/1/45(b)   196,256 
        California Health Facilities Financing Authority, Revenue Bonds:     
 115,000   AA-  Series A, 5.000% due 7/1/25   126,647 
 85,000   A  Series D, Prerefunded  8/15/21 @ 100, 5.000% due 8/15/35(d)   85,844 
        California State Public Works Board, Revenue Bonds:     
 60,000   A+  Series A, 5.000% due 4/1/22   62,438 
 145,000   A+  Series A, 5.000% due 4/1/23   150,812 
 3,000,000   A+  Series A, 5.000% due 2/1/28   3,724,240 
 3,000,000   A+  Series A, 5.000% due 2/1/29   3,794,211 
 115,000   A+  Series A, 5.250% due 10/1/24   116,937 
 115,000   A+  Series A, 5.250% due 10/1/25   116,937 
 70,000   A+  Series D, 5.000% due 12/1/21   71,687 
 30,000   A+  Series G, 5.000% due 11/1/23   32,049 
 30,000   A+  Series G, 5.000% due 11/1/24   32,045 
 3,000,000   AA-  City of Riverside CA Sewer Revenue, Revenue Bonds, Series A, 5.000% due 8/1/36   3,801,642 
        Golden State Tobacco Securitization Corp., Revenue Bonds:     
 175,000   A+  Series A, AMBAC, zero coupon, due 6/1/24   172,289 
 145,000   A+  Series A, 5.000% due 6/1/29   157,801 
 115,000   A  Series A1, 5.000% due 6/1/25   134,881 
 30,000   BBB  Series A1, 5.000% due 6/1/26   36,264 
 290,000   AA-  Los Angeles Department of Water & Power Power System Revenue, Revenue Bonds, Series A, 5.000% due 7/1/29   336,628 
 1,500,000   Aa3(a)  Los Angeles Unified School District, GO, Series A, 5.000% due 7/1/27   1,889,356 
        Modesto Irrigation District, Revenue Bonds:     
 30,000   A+  Series A, 5.000% due 7/1/22   30,118 
 110,000   A+  Series A, 5.000% due 7/1/23   110,434 
 170,000   Aa3(a)  Oakland Alameda County Coliseum Authority, Revenue Bonds, Series A, 5.000% due 2/1/23   174,727 
        Oakland Unified School District, GO:     
 100,000   AA  AGM, 5.000% due 8/1/26   118,274 
 30,000   A-  Series A, 5.000% due 8/1/28   35,298 
 1,500,000   AA+  Ohlone Community College District, GO, Series A, Prerefunded 8/1/21 @ 100, 5.000% due 8/1/38(d)   1,512,166 

 

See Notes to Financial Statements.

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount
  Rating††  Security  Value 
MUNICIPAL BONDS - (continued)     
California - 5.8% - (continued)     
$145,000   A+  Port of Oakland, Revenue Bonds, Series P, 5.000% due 5/1/22(c)  $151,032 
 90,000   A  Sacramento City Financing Authority, Special Tax, Series A, NPFG, zero coupon, due 12/1/26   84,674 
 255,000   AA-  San Diego Convention Center Expansion Financing Authority, Revenue Bonds, Series A, Prerefunded 4/15/22 @ 100, 5.000% due 4/15/23(d)   265,833 
        San Diego County Regional Transportation Commission, Revenue Bonds:     
 600,000   AA  Series B, 5.000% due 4/1/34   811,035 
 250,000   AA  Series B, 5.000% due 4/1/35   337,241 
 300,000   AA  Series B, 5.000% due 4/1/36   403,220 
 400,000   AA  Series B, 5.000% due 4/1/37   535,897 
 500,000   AA  Series B, 5.000% due 4/1/38   666,978 
 500,000   AA  Series B, 5.000% due 4/1/39   665,179 
 515,000   AA  Series B, 5.000% due 4/1/40   683,748 
 3,615,000   AA  San Dieguito Union High School District, GO, Series E, 3.000% due 8/1/38   3,988,814 
 185,000   A  San Francisco City & County Airport Comm-San Francisco International Airport, Revenue Bonds, Series A, 5.000% due 5/1/37(c)   231,589 
        State of California, GO:     
 760,000   AA-  4.000% due 3/1/26   886,632 
 3,125,000   AA-  4.000% due 12/1/30(b)   3,125,000 
 3,000,000   AA-  5.000% due 12/1/27   3,817,857 
 80,000   AA-  5.000% due 9/1/29   97,998 
 1,000,000   AA-  5.000% due 4/1/30   1,334,050 
 760,000   AA-  5.000% due 8/1/30   951,052 
 3,310,000   AA-  5.000% due 9/1/30   4,401,066 
 3,125,000   AA-  5.000% due 9/1/31   4,236,732 
 3,000,000   AA-  5.000% due 11/1/31   4,044,396 
 3,000,000   AA-  5.000% due 4/1/36   3,881,626 
 435,000   AA-  Series B, 5.000% due 8/1/26   534,809 
 205,000   AA-  Series C, 5.000% due 8/1/29   250,512 
 65,000   AAA  State of California Department of Water Resources, Revenue Bonds, Series AI, Prerefunded 12/1/21 @ 100, 5.000% due 12/1/25(d)   66,599 
 100,000   A1(a)  Washington Township Health Care District, GO, Series A, 5.500% due 8/1/40   112,833 
 230,000   AA-  West Contra Costa Unified School District, GO, 5.000% due 8/1/26   242,510 
        Total California   54,122,450 
Colorado - 2.2%         
        City & County of Denver CO Airport System Revenue, Revenue Bonds:     
 65,000   A+  Series A, 5.000% due 11/15/24(c)   74,926 
 315,000   A  Series A, 5.000% due 12/1/26(c)   384,445 
 30,000   A+  Series A, 5.000% due 11/15/27(c)   37,490 
 195,000   A+  Series A, 5.000% due 11/15/28(c)   242,589 
 145,000   A+  Series A, 5.000% due 11/15/29(c)   180,331 
 115,000   A+  Series A, 5.000% due 11/15/30(c)   142,714 
 915,000   A+  Series C, 5.000% due 11/15/30   1,196,399 
        Colorado Health Facilities Authority, Revenue Bonds:     
 655,000   Aaa(a)  zero coupon, due 7/15/22   653,317 
 215,000   A-  2.800% due 5/15/42(b)   222,417 
 2,115,000   AA  5.000% due 11/15/36(b)   2,362,497 
 190,000   Baa1(a)  5.000% due 9/1/46   218,575 
 640,000   AA  5.000% due 11/15/49(b)   786,919 
 500,000   BBB+  Series A, 5.000% due 8/1/44   617,792 
 325,000   BBB+  Series B-2, 5.000% due 8/1/49(b)   389,654 
 220,000   BBB+  Series D3, 5.000% due 10/1/38(b)   224,549 
 100,000   AA  Colorado Housing & Finance Authority, Revenue Bonds, Series H, 4.250% due 11/1/49   112,215 
        E-470 Public Highway Authority, Revenue Bonds:     
 60,000   A  zero coupon, due 9/1/35   44,524 

 

See Notes to Financial Statements.

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount
  Rating††  Security  Value 
MUNICIPAL BONDS - (continued)     
Colorado - 2.2% - (continued)        
$85,000   A  zero coupon, due 9/1/37  $59,279 
 110,000   A  zero coupon, due 9/1/38   74,365 
 1,500,000   AAA  Metro Wastewater Reclamation District, Revenue Bonds, Series A, Prerefunded 4/1/22 @ 100, 4.000% due 4/1/30(d)   1,548,809 
        Pueblo County School District No 70, GO:     
 1,000,000   AA  Series A, 4.000% due 12/1/29   1,245,177 
 1,945,000   AA  Series A, 4.000% due 12/1/30   2,458,154 
 2,000,000   AA+  Regional Transportation District Sales Tax Revenue, Revenue Bonds, 0.900% due 11/1/26   1,976,863 
 2,250,000   AA-  State of Colorado, COP, Series A, 4.000% due 12/15/36   2,666,260 
 1,435,000   Aa1(a)  University of Colorado, Revenue Bonds, Series C, 2.000% due 6/1/54(b)   1,508,819 
 210,000   AA  University of Colorado Hospital Authority, Revenue Bonds, Series C, 5.000% due 11/15/38(b)   212,495 
        Vauxmont Metropolitan District, GO, AGM:     
 150,000   AA  5.000% due 12/1/21   153,361 
 125,000   AA  5.000% due 12/15/27   146,846 
 120,000   AA  5.000% due 12/15/29   140,112 
 135,000   AA  5.000% due 12/15/31   156,934 
 285,000   AA  5.000% due 12/1/34   364,711 
        Total Colorado   20,603,538 
Connecticut - 2.2%        
        Connecticut State Health & Educational Facilities Authority, Revenue Bonds:     
 1,075,000   AAA  Series 2017 B1, 5.000% due 7/1/29   1,416,903 
 410,000   A  Series A, 5.000% due 7/1/34   515,171 
 505,000   AA-  Series B, 1.800% due 7/1/49(b)   523,831 
 65,000   A-  Series S, 5.000% due 7/1/26   78,333 
 30,000   A-  Series S, 5.000% due 7/1/29   37,626 
 4,465,000   AAA  Series V1, 0.010% due 7/1/36(b)   4,465,000 
        State of Connecticut, GO:     
 2,100,000   A+  5.000% due 7/15/25   2,464,384 
 90,000   A+  Series A, 5.000% due 3/15/26   109,021 
 375,000   A+  Series A, 5.000% due 4/15/26   455,438 
 150,000   A+  Series A, 5.000% due 4/15/30   194,417 
 170,000   A+  Series A, 5.000% due 4/15/34   217,366 
 60,000   A+  Series A, 5.000% due 4/15/35   76,592 
 175,000   A+  Series B, 5.000% due 1/15/26   210,868 
 85,000   A+  Series E, 5.000% due 9/15/23   90,265 
 100,000   A+  Series E, 5.000% due 10/15/26   123,285 
 150,000   A+  Series E, 5.000% due 10/15/29   183,301 
 1,600,000   A+  Series F, 5.000% due 9/15/26   1,967,752 
        State of Connecticut Special Tax Revenue, Revenue Bonds:     
 2,250,000   AA-  Series C, 5.000% due 1/1/30   2,892,598 
 1,500,000   AA-  Series C, 5.000% due 1/1/32   1,995,831 
 1,500,000   AAA  Town of Greenwich CT, GO, 5.000% due 1/15/23   1,618,918 
 330,000   A+  University of Connecticut, Revenue Bonds, Series A, 5.000% due 11/1/27   415,531 
        Total Connecticut   20,052,431 
Delaware - 0.4%        
        Delaware River & Bay Authority, Revenue Bonds:     
 85,000   A  Series C, 5.000% due 1/1/22   87,374 
 35,000   A  Series C, 5.000% due 1/1/24   39,084 
 80,000   A  Series C, 5.000% due 1/1/25   89,290 
 220,000   A  Delaware State Economic Development Authority, Revenue Bonds, 1.050% due 1/1/31(b)   224,468 
 3,160,000   NR  State of Delaware, GO, Series B, Prerefunded 7/1/24 @ 100, 5.000% due 7/1/27(d)   3,609,825 
        Total Delaware   4,050,041 

 

See Notes to Financial Statements.

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount
  Rating††  Security  Value 
MUNICIPAL BONDS - (continued)     
District of Columbia - 0.9%     
$2,000,000   AA+  District of Columbia, GO, Series C, 5.000% due 6/1/34  $2,260,909 
        District of Columbia, Revenue Bonds:     
 80,000   AAA  Series A, 5.000% due 12/1/36   81,845 
 40,000   NR  Series A, Prerefunded 12/01/21 @ 100, 5.000% due 12/1/36(d)   40,970 
        Metropolitan Washington Airports Authority, Revenue Bonds:     
 90,000   A+  Series A, 5.000% due 10/1/21(c)   91,429 
 50,000   A+  Series A, 5.000% due 10/1/22(c)   53,182 
 75,000   A+  Series A, 5.000% due 10/1/23(c)   83,197 
 2,625,000   A+  Series A, 5.000% due 10/1/24(c)   3,018,954 
 115,000   A+  Series A, 5.000% due 10/1/28(c)   147,433 
 120,000   A+  Series A, 5.000% due 10/1/29(c)   154,368 
 95,000   A+  Series A, 5.000% due 10/1/30(c)   122,098 
 205,000   A+  Series A, 5.000% due 10/1/31(c)   260,301 
 60,000   A+  Series A, 5.000% due 10/1/34(c)   74,351 
 55,000   A+  Series A, 5.000% due 10/1/36(c)   67,983 
 195,000   A+  Series C, 5.000% due 10/1/22(c)   198,086 
 210,000   A+  Series C, 5.000% due 10/1/23(c)   213,362 
 190,000   A+  Series C, 5.000% due 10/1/24(c)   193,016 
 255,000   A+  Series C, 5.000% due 10/1/25(c)   259,048 
 400,000   A-  Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Revenue Bonds, 4.000% due 10/1/35   471,244 
 240,000   AA-  Washington Metropolitan Area Transit Authority, Revenue Bonds, Series B, 5.000% due 7/1/34   294,348 
        Total District of Columbia   8,086,124 
Florida - 4.4%        
        Brevard County School District, COP:     
 95,000   Aa3(a)  5.000% due 7/1/27   108,139 
 215,000   Aa3(a)  5.000% due 7/1/30   244,310 
 85,000   Aa3(a)  Series C, 5.000% due 7/1/24   96,364 
        Citizens Property Insurance Inc., Revenue Bonds:     
 80,000   A+  Series A1, 5.000% due 6/1/21   80,000 
 60,000   A+  Series A1, 5.000% due 6/1/22   62,933 
        City of Clearwater FL Water & Sewer Revenue, Revenue Bonds:     
 40,000   AA+  5.000% due 12/1/21   40,977 
 65,000   AA+  Series Prerefunded 12/1/21 @ 100, 5.000% due 12/1/23(d)   66,593 
 70,000   AA+  Series Prerefunded 12/1/21 @ 100, 5.000% due 12/1/24(d)   71,715 
        City of Jacksonville FL, Revenue Bonds:     
 115,000   A+  5.000% due 10/1/22   122,335 
 155,000   A+  5.000% due 10/1/23   165,037 
 55,000   A+  City of Tampa FL, Revenue Bonds, 5.000% due 9/1/28   57,730 
        County of Broward FL Airport System Revenue, Revenue Bonds:     
 60,000   A  5.000% due 10/1/30(c)   74,226 
 90,000   A  5.000% due 10/1/31(c)   111,008 
 120,000   A  Series A, 5.000% due 10/1/29(c)   140,878 
 85,000   A  Series A, 5.000% due 10/1/31(c)   99,157 
 115,000   A  Series A, 5.000% due 10/1/32(c)   133,889 
 1,000,000   A  Series B, 5.000% due 10/1/29(c)   1,294,273 
 90,000   A  Series Q1, 5.000% due 10/1/23   95,740 
        County of Hillsborough FL Solid Waste & Resource Recovery Revenue, Revenue Bonds:     
 40,000   AA+  Series A, 5.000% due 9/1/21(c)   40,466 
 50,000   AA+  Series A, 5.000% due 9/1/22(c)   52,830 
 60,000   AA+  Series A, 5.000% due 9/1/23(c)   65,966 
 65,000   AA+  Series A, 5.000% due 9/1/24(c)   73,927 
 65,000   AA+  Series A, 5.000% due 9/1/26(c)   78,429 
 120,000   AA  County of Miami-Dade FL, GO, Series A, 5.000% due 11/1/23    133,710 

 

See Notes to Financial Statements.

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount
  Rating††  Security  Value 
MUNICIPAL BONDS - (continued)     
Florida - 4.4% - (continued)        
        County of Miami-Dade FL, Revenue Bonds:     
$160,000   A+  5.000% due 10/1/28  $196,310 
 120,000   A+  5.000% due 10/1/29   146,765 
 215,000   A+  5.000% due 10/1/30   262,648 
 65,000   A+  Series A, Prerefunded 10/01/22 @ 100, 5.000% due 10/1/25(d)   69,234 
        County of Miami-Dade FL Aviation Revenue, Revenue Bonds:     
 175,000   A-  Series A, 5.000% due 10/1/21(c)   177,766 
 85,000   A-  Series A, 5.000% due 10/1/22(c)   90,386 
 290,000   A-  Series A, 5.000% due 10/1/24(c)   308,055 
 55,000   A-  Series A, 5.000% due 10/1/27(c)   62,783 
 80,000   A-  Series A, 5.000% due 10/1/29(c)   91,036 
 70,000   A-  Series A, 5.000% due 10/1/30   84,658 
 30,000   A-  Series A, 5.000% due 10/1/31   36,206 
 160,000   A-  Series A, 5.000% due 10/1/33(c)   181,224 
 70,000   A-  Series A, 5.000% due 10/1/35(c)   79,384 
 65,000   A-  Series B, 5.000% due 10/1/24   69,146 
 215,000   A-  Series B, 5.000% due 10/1/37   245,576 
 500,000   A-  Series B, 5.000% due 10/1/40(c)   607,904 
        County of Miami-Dade FL Transit System, Revenue Bonds:     
 35,000   AA  5.000% due 7/1/21   35,134 
 1,500,000   AA  Series A, 4.000% due 7/1/50   1,769,077 
 50,000   AA  Series Prerefunded 7/1/22 @ 100, 5.000% due 7/1/42(d)   52,645 
        Duval County Public Schools, COP:     
 125,000   A+  Series B, 5.000% due 7/1/27   146,427 
 30,000   A+  Series B, 5.000% due 7/1/28   35,063 
 190,000   A+  Series B, 5.000% due 7/1/30   221,651 
        Florida Municipal Power Agency, Revenue Bonds:     
 30,000   A2(a)  5.000% due 10/1/24   34,567 
 45,000   A2(a)  5.000% due 10/1/27   53,323 
 80,000   A1(a)  Series A, 5.000% due 10/1/22   84,992 
 355,000   A2(a)  Series A, 5.000% due 10/1/26   376,777 
 55,000   A2(a)  Series A, 5.000% due 10/1/30   66,836 
 60,000   A2(a)  Series A, 5.000% due 10/1/31   72,970 
 2,500,000   AA  Florida's Turnpike Enterprise, Revenue Bonds, Series C, 4.375% due 7/1/37   2,694,546 
        Greater Orlando Aviation Authority, Revenue Bonds:     
 100,000   A  Series A, 5.000% due 10/1/28(c)   123,922 
 60,000   A  Series A, 5.000% due 10/1/30(c)   74,226 
        Halifax Hospital Medical Center, Revenue Bonds:     
 35,000   A-  5.000% due 6/1/28   39,838 
 70,000   A-  5.000% due 6/1/35   78,891 
        Hillsborough County Port District, Revenue Bonds:     
 850,000   A(e)  Series B, 5.000% due 6/1/33(c)   1,040,389 
 185,000   A(e)  Series B, 5.000% due 6/1/38(c)   224,103 
 75,000   AA-  Indian River County District School Board, COP, Series A, 5.000% due 7/1/24   84,732 
 200,000   A  JEA Electric System Revenue, Revenue Bonds, Series B, 5.000% due 10/1/26   242,195 
        Lake County School Board, COP, AGM:     
 30,000   AA  Series A, Prerefunded 6/1/24 @ 100, 5.000% due 6/1/25(d)   34,214 
 50,000   AA  Series A, Prerefunded 6/1/24 @ 100, 5.000% due 6/1/26(d)   57,023 
 15,000   AA  Series A, Prerefunded 6/1/24 @ 100, 5.000% due 6/1/28(d)   17,107 
        Lee Memorial Health System, Revenue Bonds:     
 550,000   A+  Series A1, 5.000% due 4/1/33   698,408 
 415,000   A+  Series A1, 5.000% due 4/1/35   524,666 
 755,000   A+  Series A2, 5.000% due 4/1/33(b)   889,525 
        Miami-Dade County Expressway Authority, Revenue Bonds:     
 45,000   A  Series A, 5.000% due 7/1/31   54,056 

 

See Notes to Financial Statements.

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount
  Rating††  Security  Value 
MUNICIPAL BONDS - (continued)     
Florida - 4.4% - (continued)        
$115,000   A  Series A, 5.000% due 7/1/32  $138,018 
 95,000   A  Series A, 5.000% due 7/1/33   113,910 
 30,000   A  Series A, 5.000% due 7/1/34   35,906 
 235,000   A  Series A, 5.000% due 7/1/40   235,650 
 85,000   A  Series A, 5.000% due 7/1/44   95,172 
        Orange County Health Facilities Authority, Revenue Bonds:     
 200,000   A+  Series A, 5.000% due 10/1/39   236,227 
 365,000   A+  Series A, Prerefunded 4/1/22 @ 100, 5.000% due 10/1/42(d)   379,750 
 150,000   A+  Series B, Prerefunded 4/1/22 @ 100, 5.000% due 10/1/42(d)   156,062 
        Orange County School Board, COP:     
 115,000   Aa2(a)  Series B, Prerefunded 8/1/22 @ 100, 5.000% due 8/1/26(d)   121,553 
 200,000   Aa2(a)  Series C, 5.000% due 8/1/29   235,163 
 50,000   AA  Orlando Utilities Commission, Revenue Bonds, Series A, 5.000% due 10/1/23   55,589 
        Palm Beach County Health Facilities Authority, Revenue Bonds:     
 10,000   WD(e)  5.000% due 12/1/23   11,179 
 20,000   WD(e)  5.000% due 12/1/24   23,222 
        Palm Beach County School District, COP:     
 55,000   Aa3(a)  Series A, 5.000% due 8/1/22   58,114 
 35,000   Aa3(a)  Series A, 5.000% due 8/1/23   38,591 
 40,000   Aa3(a)  Series A, 5.000% due 8/1/24   45,843 
 705,000   Aa3(a)  Series A, 5.000% due 8/1/26   861,116 
 300,000   Aa3(a)  Series B, 5.000% due 8/1/26   355,596 
 240,000   Aa3(a)  Series B, 5.000% due 8/1/27   283,605 
 160,000   Aa3(a)  Series B, 5.000% due 8/1/28   188,708 
 695,000   Aa3(a)  Series D, 5.000% due 8/1/26   823,798 
 315,000   Aa3(a)  Series D, 5.000% due 8/1/27   372,232 
 110,000   Aa3(a)  Series D, 5.000% due 8/1/28   129,737 
 250,000   AA+  Palm Beach County Solid Waste Authority, Revenue Bonds, 5.000% due 10/1/24   254,019 
 300,000   AA  Pasco County School Board, COP, Series D, AGM-Insured, 5.000% due 8/1/30   403,253 
        School Board of Miami-Dade County, COP:     
 120,000   AA  AGM, Series A, 5.000% due 5/1/27   140,194 
 570,000   A+  Series A, 5.000% due 5/1/31   679,478 
 220,000   A+  Series B, 5.000% due 8/1/27   267,094 
 395,000   A+  Series B, 5.000% due 5/1/28   459,305 
 340,000   A+  Series D, 5.000% due 11/1/24   391,659 
 355,000   A+  Series D, 5.000% due 11/1/25   409,330 
 230,000   A+  Series D, 5.000% due 11/1/26   264,355 
 115,000   A+  Series D, 5.000% due 2/1/29   136,429 
 190,000   A+  Series D, 5.000% due 2/1/30   224,832 
        School District of Broward County, COP:     
 155,000   A+  Series A, 5.000% due 7/1/21   155,615 
 145,000   A+  Series A, 5.000% due 7/1/22   152,676 
 45,000   A+  Series A, 5.000% due 7/1/25   47,256 
 460,000   A+  Series A, 5.000% due 7/1/26   526,196 
 265,000   A+  Series A, 5.000% due 7/1/27   312,769 
 115,000   A+  Series A, 5.000% due 7/1/28   135,424 
 70,000   A+  Series A, 5.000% due 7/1/32   83,819 
 120,000   NR  Series A, Prerefunded 7/1/22 @ 100, 5.000% due 7/1/25(d)   126,214 
 580,000   NR  Series A, Prerefunded 7/1/22 @ 100, 5.000% due 7/1/26(d)   610,034 
 335,000   A+  Series B, 5.000% due 7/1/26   395,983 
 230,000   A+  Series B, 5.000% due 7/1/27   271,256 
 390,000   A+  Series B, 5.000% due 7/1/28   459,610 
        Seminole County School Board, COP:     
 60,000   Aa3(a)  Series C, 5.000% due 7/1/23   65,799 
 50,000   Aa3(a)  Series C, 5.000% due 7/1/24   56,932 

 

See Notes to Financial Statements.

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount
   Rating††  Security  Value 
MUNICIPAL BONDS - (continued)     
Florida - 4.4% - (continued)     
$115,000   AA  South Florida Water Management District, COP, 5.000% due 10/1/30  $137,314 
 75,000   AA-  South Miami Health Facilities Authority, Revenue Bonds, 5.000% due 8/15/24   85,714 
        St Lucie County School Board, COP:     
 60,000   A  Series A, 5.000% due 7/1/25   65,641 
 125,000   A  Series A, 5.000% due 7/1/27   136,534 
        State of Florida, GO:     
 5,995,000   AAA  5.000% due 7/1/32   7,747,055 
 289,000   AAA  Series C, 5.000% due 6/1/22   289,000 
 145,000   AAA  Series E, 5.000% due 6/1/24   145,000 
 2,000,000   AA+  State of Florida Department of Transportation, Revenue Bonds, 5.000% due 7/1/27   2,498,833 
        Tampa Bay Water, Revenue Bonds:     
 70,000   AA+  Series A, NPFG, 6.000% due 10/1/29   97,394 
 70,000   AA+  Series NPFG, 5.500% due 10/1/22   75,027 
        Volusia County Educational Facility Authority, Revenue Bonds:     
 150,000   A2(a)  4.000% due 10/15/36   175,561 
 80,000   A2(a)  5.000% due 10/15/44   99,099 
 150,000   A2(a)  5.000% due 10/15/49   184,720 
        Volusia County School Board, COP:     
 600,000   Aa3(a)  5.000% due 8/1/24   687,236 
 145,000   AA  Series A, 5.000% due 8/1/32   171,728 
        Total Florida   40,667,144 
Georgia - 3.5%          
        City of Atlanta GA Water & Wastewater Revenue, Revenue Bonds:     
 30,000   AA-  5.000% due 11/1/27   35,047 
 70,000   AA-  5.000% due 11/1/29   81,583 
 2,000,000   AA-  5.000% due 11/1/40   2,328,437 
 205,000   Aaa(a)  Colquitt County Development Authority, Revenue Bonds, zero coupon, due 12/1/21   204,878 
 45,000   A+  County of DeKalb GA Water & Sewerage Revenue, Revenue Bonds, Series A, 5.250% due 10/1/25   45,738 
        Development Authority of Burke County, Revenue Bonds:     
 600,000   A-  1.700% due 12/1/49(b)   621,213 
 830,000   A-  2.925% due 11/1/53(b)   885,253 
 155,000   AA-  Fulton County Development Authority, Revenue Bonds, 5.000% due 6/15/44   194,060 
        Main Street Natural Gas Inc., Revenue Bonds:     
 5,000,000   Aa2(a)  Series A, 4.000% due 4/1/48(b)   5,388,985 
 840,000   Aa2(a)  Series C, 4.000% due 8/1/48(b)   911,663 
        Municipal Electric Authority of Georgia, Revenue Bonds:     
 160,000   A-  Series A, 5.000% due 1/1/27   196,189 
 145,000   A-  Series A, 5.000% due 1/1/30   183,677 
 105,000   A  Series GG, 5.000% due 1/1/24   112,607 
 35,000   A  Series GG, 5.000% due 1/1/25   37,449 
 145,000   A  Series GG, 5.000% due 1/1/26   154,946 
        Municipal Gas Authority of Georgia, Revenue Bonds:     
 60,000   AA-  Series Q, 5.000% due 10/1/22   63,819 
 35,000   AA-  Series S, 5.000% due 10/1/22   37,227 
 70,000   AA-  Series S, 5.000% due 10/1/24   74,332 
 40,000   AA-  Series U, 5.000% due 10/1/24   46,118 
        State of Georgia, GO:     
 5,000,000   AAA  Series A, 5.000% due 7/1/29   6,427,384 
 5,000,000   AAA  Series A, 5.000% due 8/1/30   6,757,210 
 2,500,000   AAA  Series A, 5.000% due 7/1/32   3,264,563 
 3,835,000   AAA  Series C, 5.000% due 7/1/29   4,804,927 
        Total Georgia   32,857,305 

 

See Notes to Financial Statements.

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount
   Rating††  Security  Value 
MUNICIPAL BONDS - (continued) 
Hawaii - 0.1% 
       City & County of Honolulu HI, GO:    
$115,000   Aa1(a)  Series D, 5.000% due 9/1/22  $122,031 
 90,000   Aa1(a)  Series D, 5.000% due 9/1/26   110,666 
 500,000   AA+  State of Hawaii, GO, Series FH, 5.000% due 10/1/28   612,784 
        Total Hawaii   845,481 
Idaho - 0.4%        
        Idaho Housing & Finance Association, Revenue Bonds:     
 90,000   A2(a)  5.000% due 7/15/21   90,517 
 100,000   A2(a)  5.000% due 7/15/22   105,319 
 45,000   A2(a)  5.000% due 7/15/23   49,467 
 35,000   A2(a)  5.000% due 7/15/24   39,977 
 95,000   A2(a)  5.000% due 7/15/27   118,747 
 70,000   Aa1(a)  Series A, 4.000% due 1/1/50   77,696 
 250,000   A2(a)  Series A, 5.000% due 7/15/30   332,389 
 250,000   A2(a)  Series A, 5.000% due 7/15/31   337,832 
 2,380,000   Aa1(a)  Kootenai County School District No 271 Coeur d'Alene, GO, 4.000% due 9/15/28   2,813,432 
        Total Idaho   3,965,376 
Illinois - 3.4%        
        Chicago Midway International Airport, Revenue Bonds:     
 65,000   A-  Series A, 5.000% due 1/1/29(c)   76,676 
 100,000   A-  Series A, 5.000% due 1/1/30(c)   117,991 
 70,000   A-  Series A, 5.000% due 1/1/31(c)   82,622 
 190,000   A-  Series A, 5.000% due 1/1/32(c)   209,583 
 30,000   A-  Series B, 5.000% due 1/1/22   30,836 
 95,000   A-  Series B, 5.000% due 1/1/24   106,267 
        Chicago O'Hare International Airport, Revenue Bonds:     
 75,000   BBB+  5.000% due 7/1/38(c)   89,636 
 50,000   A  Series A, 5.000% due 1/1/22   51,394 
 125,000   A  Series A, 5.000% due 1/1/24(c)   139,414 
 270,000   A  Series A, 5.000% due 1/1/29   331,274 
 200,000   A  Series A, 5.000% due 1/1/48(c)   242,859 
 1,000,000   A  Series A, Prerefunded 1/01/22 @ 100, 5.000% due 1/1/25(c)(d)   1,027,418 
 200,000   A  Series B, 5.000% due 1/1/22(c)   205,515 
 285,000   A  Series B, 5.000% due 1/1/32   329,172 
 120,000   A  Series B, 5.000% due 1/1/53   146,887 
 65,000   A  Series C, 5.000% due 1/1/22   66,812 
 80,000   A  Series C, 5.000% due 1/1/23   85,993 
 45,000   A  Series C, 5.000% due 1/1/24   50,337 
 65,000   A  Series C, 5.000% due 1/1/25   75,426 
 60,000   A  Series C, 5.000% due 1/1/26   71,757 
 70,000   A  Series C, 5.000% due 1/1/33   83,005 
 80,000   A  Series C, 5.000% due 1/1/34   94,857 
 60,000   A  Series D, 5.000% due 1/1/27(c)   73,387 
 15,000   A  Series D, 5.000% due 1/1/28(c)   18,239 
 85,000   A  Series D, 5.000% due 1/1/31(c)   102,251 
 45,000   A  Series D, 5.000% due 1/1/33(c)   54,297 
 40,000   A  City of Chicago IL Wastewater Transmission Revenue, Revenue Bonds, 5.000% due 1/1/23   41,097 
 30,000   AA  City of Chicago IL Waterworks Revenue, Revenue Bonds, AGM-Insured, 5.250% due 11/1/33   30,098 
        Cook County Forest Preserve District, GO:     
 30,000   AA-  Series B, 5.000% due 12/15/23   31,466 
 40,000   AA-  Series B, 5.000% due 12/15/24   41,962 
 60,000   AA-  Series C, 5.000% due 12/15/25   62,937 

 

See Notes to Financial Statements.

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount
   Rating††  Security  Value 
MUNICIPAL BONDS - (continued)     
Illinois - 3.4% - (continued)     
$155,000   Aaa(a)  Cook Kane Lake & McHenry Counties Community College District No 512, GO, Series B, 5.000% due 12/1/24   $179,000 
        County of Cook IL, GO:     
 45,000   A+  Series A, 5.250% due 11/15/24    46,007 
 60,000   A+  Series C, 5.000% due 11/15/22    64,210 
 145,000   A+  Series C, 5.000% due 11/15/23    154,929 
 540,000   A+  Series C, 5.000% due 11/15/24    576,432 
 15,000   AA  AGM, Series C, 5.000% due 11/15/25    16,006 
 35,000   Aa3(a)  Grundy & Will Counties Community Unit School District No 1 Coal City, GO, 5.000% due 2/1/29    42,712 
 835,000   AA+  Illinois Development Finance Authority, Revenue Bonds, zero coupon, due 7/15/23    828,834 
        Illinois Finance Authority, Revenue Bonds:     
 60,000   AA+  5.000% due 7/15/26    73,259 
 75,000   A+  5.000% due 11/15/26    79,967 
 25,000   A3(a)  5.000% due 8/15/27    28,998 
 70,000   A  5.000% due 5/15/28    83,927 
 60,000   AA+  5.000% due 7/15/28    76,015 
 40,000   A  5.000% due 5/15/29    47,703 
 150,000   AAA  5.000% due 7/1/29    185,436 
 25,000   A+  5.000% due 11/15/29    26,569 
 110,000   A3(a)  5.000% due 12/1/29    132,437 
 145,000   AAA  5.000% due 1/1/30    178,757 
 330,000   AA-  5.000% due 8/15/30    440,879 
 255,000   AAA  5.000% due 7/1/31    313,579 
 235,000   AA+  5.000% due 9/1/32    246,908 
 175,000   A3(a)  5.000% due 8/15/35    198,833 
 170,000   A  5.000% due 1/1/36    202,266 
 870,000   A  5.000% due 1/1/38    1,052,766 
 315,000   AA+  5.000% due 9/1/38    332,461 
 1,300,000   A  5.000% due 1/1/44    1,556,483 
 100,000   A3(a)  5.000% due 12/1/46    118,261 
 25,000   BBB+  5.000% due 8/1/49    29,012 
 10,000   A+  Series A, 5.000% due 11/15/21    10,217 
 495,000   AA-  Series A, 5.000% due 2/15/24    557,998 
 95,000   AA-  Series A, 5.000% due 2/15/25    111,072 
 45,000   AA-  Series A, 5.000% due 2/15/26    54,343 
 30,000   A  Series A, 5.000% due 11/15/27    35,302 
 35,000   A  Series A, 5.000% due 11/15/28    40,969 
 55,000   A  Series A, 5.000% due 11/15/29    64,041 
 75,000   AA-  Series A, 5.000% due 7/1/30    89,847 
 100,000   A  Series A, 5.000% due 11/15/32    115,450 
 50,000   AA-  Series A, 5.000% due 7/1/34    59,325 
 15,000   AA+  Series A, 5.000% due 9/1/34    16,854 
 60,000   A+  Series A, 5.000% due 11/15/34    69,876 
 255,000   AA-  Series A, 5.000% due 7/1/36    301,589 
 20,000   BBB+  Series A, 5.000% due 8/1/47    23,235 
 45,000   A  Series A, Prerefunded 5/15/22 @ 100, 5.000% due 5/15/23(d)    47,086 
 95,000   WD(e)  Series A, Prerefunded 8/15/26 @ 100, 5.000% due 8/15/33(d)    116,215 
 85,000   A+  Series B, 5.000% due 11/15/26    99,790 
 35,000   AA+  Series C, 3.750% due 2/15/34    39,102 
 160,000   AA+  Series C, 4.000% due 2/15/36    181,390 
 35,000   AA+  Series C, 5.000% due 2/15/22    36,206 
 15,000   AA+  Series C, 5.000% due 2/15/24    16,931 
 75,000   AA+  Series C, 5.000% due 2/15/26    90,727 
 200,000   AA+  Series C, 5.000% due 2/15/28    247,417 

 

See Notes to Financial Statements.

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount
   Rating††  Security   Value 
MUNICIPAL BONDS - (continued)     
Illinois - 3.4% - (continued)        
$135,000   AA+  Series C, 5.000% due 2/15/29   $165,740 
 50,000   AA+  Series C, 5.000% due 2/15/31    61,109 
 365,000   AA+  Series C, 5.000% due 2/15/32    445,533 
 145,000   AA+  Series C, 5.000% due 2/15/33    176,615 
 65,000   AA+  Series C, 5.000% due 2/15/36    78,687 
 205,000   AA+  Series C, 5.000% due 2/15/41    245,736 
 100,000   AA+  Series E, 2.250% due 11/15/42(b)    101,915 
 60,000   AA-  Series L, Prerefunded 12/1/21 @ 100, 5.000% due 12/1/22(d)    61,470 
 95,000   A(e)  Series Prerefunded 11/15/22 @ 100, 5.000% due 11/15/43(d)    101,540 
 20,000   NR  Series Prerefunded 2/15/27 @ 100, 4.000% due 2/15/41(d)    23,512 
        Illinois Municipal Electric Agency, Revenue Bonds:     
 1,000,000   A  Series A, 5.000% due 2/1/22    1,030,849 
 290,000   A  Series A, 5.000% due 2/1/28    341,248 
 105,000   A  Series A, 5.000% due 2/1/31    123,508 
        Illinois State Toll Highway Authority, Revenue Bonds:     
 50,000   AA-  Series A, 5.000% due 12/1/31    59,597 
 2,000,000   AA-  Series A, 5.000% due 1/1/40    2,593,213 
 175,000   AA-  Series D, 5.000% due 1/1/24    195,803 
 255,000   Aa3(a)  Kane Cook & DuPage Counties School District No U-46 Elgin, GO, Series B, AMBAC-Insured, zero coupon, due 1/1/22    254,778 
        Kane McHenry Cook & De Kalb Counties Unit School District No 300, GO:     
 260,000   AA  5.000% due 1/1/26    302,914 
 55,000   AA  5.000% due 1/1/29    68,832 
 230,000   AA  McHenry & Kane Counties Community Consolidated School District No 158 Huntley, GO, AGM-Insured, zero coupon, due 1/1/24    224,229 
        McHenry County Community Unit School District No 200 Woodstock, GO:     
 215,000   Aa2(a)  Series B, NPFG, zero coupon, due 1/15/24(f)   210,048 
 225,000   Aa2(a)  Series B, NPFG, zero coupon, due 1/15/25    216,150 
 170,000   Aa2(a)  Series B, NPFG, zero coupon, due 1/15/26    160,304 
        McHenry County Conservation District, GO:     
 65,000   AA+  5.000% due 2/1/24    72,922 
 175,000   AA+  5.000% due 2/1/27    204,129 
 70,000   AA  Regional Transportation Authority, Revenue Bonds, Series A, 5.000% due 7/1/21    70,273 
        State of Illinois, GO:     
 45,000   BBB-  5.000% due 8/1/21    45,351 
 225,000   BBB-  5.000% due 1/1/22    231,129 
 145,000   BBB-  5.000% due 3/1/22    150,060 
 190,000   BBB-  5.000% due 8/1/22    200,206 
 45,000   BBB-  5.000% due 2/1/23    48,413 
 220,000   BBB-  5.000% due 4/1/23    238,318 
 100,000   BBB-  5.000% due 8/1/23    109,778 
 225,000   BBB-  5.000% due 6/1/25    263,108 
 65,000   BBB-  5.000% due 2/1/26    72,170 
 270,000   BBB-  5.000% due 2/1/27    319,596 
 180,000   BBB-  5.000% due 2/1/28    216,235 
 60,000   BBB-  5.000% due 4/1/28    66,621 
 25,000   BBB-  5.000% due 5/1/28    27,836 
 165,000   BBB-  5.000% due 2/1/29    196,751 
 70,000   BBB-  5.000% due 5/1/32    77,168 
 190,000   BBB-  5.000% due 5/1/33    209,181 
 305,000   BBB-  5.250% due 2/1/31    336,184 
 115,000   BBB-  5.500% due 7/1/38    124,514 
 65,000   BBB-  Series A, 4.000% due 1/1/23    66,350 
 105,000   BBB-  Series A, 5.000% due 1/1/33    107,823 
 365,000   BBB-  Series B, 5.000% due 9/1/21    369,281 

 

See Notes to Financial Statements.

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount
   Rating††  Security  Value 
MUNICIPAL BONDS - (continued)     
Illinois - 3.4% - (continued)        
$360,000   BBB-  Series B, 5.000% due 9/1/22   $380,673 
 365,000   BBB-  Series B, 5.000% due 9/1/23    401,984 
 365,000   BBB-  Series B, 5.000% due 9/1/24    416,749 
 620,000   BBB-  Series D, 5.000% due 11/1/23    687,189 
 405,000   BBB-  Series D, 5.000% due 11/1/25    478,924 
 390,000   BBB-  Series D, 5.000% due 11/1/26    470,865 
        University of Illinois, Revenue Bonds:     
 115,000   A-  6.000% due 10/1/42    128,180 
 115,000   A-  6.250% due 10/1/38    129,083 
        Will County Community Unit School District No 365 Valley View, GO:     
 2,420,000   Aa2(a)  Series A, 5.000% due 11/1/25    2,857,192 
 165,000   AA  AGM, Series B, zero coupon, due 11/1/26    156,637 
 200,000   AA  Will County School District No 86 Joliet, GO, AGM-Insured, zero coupon, due 11/1/21    199,601 
        Total Illinois    31,282,897 
Indiana - 1.6%        
        City of Indianapolis IN Thermal Energy System Revenue, Revenue Bonds:     
 315,000   A+  Series A, 5.000% due 10/1/24    359,909 
 160,000   AA  Series B, AGM, 5.000% due 10/1/21    162,518 
        City of Whiting IN, Revenue Bonds:     
 370,000   A-  5.000% due 12/1/44(b)(c)    448,371 
 1,020,000   A-  5.000% due 11/1/45(b)(c)    1,088,789 
 300,000   A-  County of St Joseph IN, Revenue Bonds, 4.000% due 4/1/38    340,912 
        Indiana Finance Authority, Revenue Bonds:     
 320,000   AA  2.250% due 12/1/58(b)    339,309 
 30,000   AA-  5.000% due 3/1/22    31,102 
 90,000   AA-  5.000% due 8/15/25    99,390 
 30,000   AA-  5.000% due 9/1/26    36,472 
 15,000   AA-  5.000% due 9/1/29    17,892 
 240,000   AA-  5.000% due 3/1/36    270,043 
 60,000   AA-  5.000% due 9/1/36    71,182 
 65,000   AA  Series A, 5.000% due 10/1/25    69,101 
 70,000   AA  Series A, 5.000% due 10/1/26    80,609 
 35,000   AA  Series A, 5.000% due 10/1/28    40,208 
 115,000   AA  Series A, 5.250% due 10/1/24    117,014 
 535,000   AA  Series Prerefunded 1/1/22 @ 100, 1.650% due 12/1/42(b)(d)    539,718 
 45,000   AA-  Series Prerefunded 3/1/22 @ 100, 5.000% due 3/1/23(d)    46,653 
 30,000   AA-  Series Prerefunded 3/1/22 @ 100, 5.000% due 3/1/30(d)    31,102 
 155,000   AA-  Series Prerefunded 3/1/22 @ 100, 5.000% due 3/1/41(d)    160,695 
        Indiana Health Facility Financing Authority, Revenue Bonds:     
 1,000,000   AA+  Series A2, 2.000% due 11/15/36(b)    1,027,665 
 7,500,000   AA+  Series E, 0.040% due 11/15/39(b)    7,500,000 
 290,000   Aaa(a)  Indiana Housing & Community Development Authority, Revenue Bonds, Series B, 3.500% due 1/1/49    316,936 
        Indiana Municipal Power Agency, Revenue Bonds:     
 20,000   A+  Series A, 5.000% due 1/1/24    21,034 
 20,000   A+  Series A, 5.000% due 1/1/25    21,032 
 55,000   A+  Series A, 5.000% due 1/1/26    57,825 
 10,000   NR  Series A, Prerefunded 7/1/22 @ 100, 5.000% due 1/1/24(d)    10,529 
 10,000   NR  Series A, Prerefunded 7/1/22 @ 100, 5.000% due 1/1/25(d)    10,529 
 25,000   NR  Series A, Prerefunded 7/1/22 @ 100, 5.000% due 1/1/26(d)    26,323 
 515,000   AAA  Indiana University, Revenue Bonds, Series W-1, 5.000% due 8/1/26    590,932 
 255,000   A1(a)  Indianapolis Local Public Improvement Bond Bank, Revenue Bonds, 5.000% due 1/1/25(c)    295,014 
       Lake Central Multi-District School Building Corp., Revenue Bonds:    
 40,000   AA+  Series B, 4.000% due 1/15/22    40,922 

 

See Notes to Financial Statements.

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount
   Rating††  Security  Value 
MUNICIPAL BONDS - (continued)     
Indiana - 1.6% - (continued)        
$30,000   AA+  Series B, 5.000% due 7/15/22   $31,578 
 40,000   AA+  Series B, 5.000% due 7/15/23    43,062 
 40,000   NR  Series B, Prerefunded  1/15/23 @ 100, 5.000% due 7/15/23(d)    43,096 
 120,000   AA+  Series B, Prerefunded  1/15/23 @ 100, 5.000% due 7/15/24(d)    129,390 
 125,000   AA+  Series B, Prerefunded  1/15/23 @ 100, 5.000% due 7/15/25(d)    134,781 
        Total Indiana    14,651,637 
Iowa - 1.3%        
 1,155,000   Aa1(a)  City of Cedar Rapids IA, GO, Series A, 5.000% due 6/1/25    1,314,996 
        Iowa Finance Authority, Revenue Bonds:     
 3,840,000   AAA  5.000% due 8/1/31    4,811,284 
 90,000   BBB(e)  Series A, 5.000% due 5/15/43    103,933 
 105,000   BBB(e)  Series A, 5.000% due 5/15/48    120,686 
 5,000,000   A3(a)  PEFA Inc., Revenue Bonds, 5.000% due 9/1/49(b)    6,012,036 
        Total Iowa    12,362,935 
Kansas - 0.0%        
        Wyandotte County-Kansas City Unified Government Utility System Revenue, Revenue Bonds:     
 30,000   A  Series A, 5.000% due 9/1/30    35,381 
 35,000   A  Series A, 5.000% due 9/1/32    41,253 
 130,000   A  Series A, Prerefunded  9/01/22 @ 100, 5.000% due 9/1/24(d)    137,853 
 30,000   A  Series B, Prerefunded  9/01/22 @ 100, 5.000% due 9/1/23(d)    31,812 
 45,000   A  Series B, Prerefunded  9/01/22 @ 100, 5.000% due 9/1/24(d)    47,719 
        Total Kansas    294,018 
Kentucky - 1.2%        
        Kenton County Airport Board, Revenue Bonds:     
 25,000   A1(a)  5.000% due 1/1/25    29,020 
 15,000   A1(a)  5.000% due 1/1/26    17,969 
 45,000   A1(a)  5.000% due 1/1/29    53,417 
 50,000   A1(a)  5.000% due 1/1/30    59,267 
 5,000,000   A2(a)  Kentucky Public Energy Authority, Revenue Bonds, Series B, 4.000% due 1/1/49(b)    5,564,404 
        Kentucky State Property & Building Commission, Revenue Bonds:     
 160,000   A-  5.000% due 4/1/27    197,576 
 145,000   A-  5.000% due 5/1/28    183,203 
 15,000   A-  5.000% due 5/1/29    18,873 
 40,000   AA  5.000% due 5/1/31    50,217 
 110,000   A-  Series A, 5.000% due 10/1/27    121,426 
 165,000   A-  Series A, 5.000% due 2/1/29    195,415 
 170,000   A-  Series A, 5.000% due 2/1/30    201,219 
 65,000   A-  Series A, 5.000% due 2/1/32    76,893 
 80,000   A-  Series A, 5.000% due 2/1/33    94,630 
 325,000   A-  Series B, 5.000% due 11/1/26    397,892 
 1,445,000   A-  Series B, 5.000% due 11/1/27    1,761,588 
 35,000   A1(a)  Series D, 5.000% due 5/1/26    42,245 
 30,000   A1(a)  Series D, 5.000% due 5/1/27    37,125 
 30,000   A1(a)  Series D, 5.000% due 5/1/28    36,912 
        Louisville/Jefferson County Metropolitan Government, Revenue Bonds:     
 200,000   A  5.000% due 10/1/47(b)    259,833 
 525,000   A  Series A, 5.000% due 10/1/29    632,935 
 95,000   A  Series A, 5.000% due 10/1/32    113,997 
 70,000   A  Series A, 5.500% due 10/1/33    77,769 
 185,000   A  Series A, 5.750% due 10/1/38    206,280 
 100,000   BBB+  Series Prerefunded 6/1/22 @ 100, 5.000% due 12/1/28(d)    104,790 
 335,000   BBB+  Series Prerefunded 6/1/22 @ 100, 5.000% due 12/1/29(d)    351,046 
 355,000   A+  University of Louisville, Revenue Bonds, Series C, 3.000% due 9/1/21    357,416 
        Total Kentucky    11,243,357 

 

See Notes to Financial Statements.

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount
   Rating††  Security  Value 
MUNICIPAL BONDS - (continued) 
Louisiana - 0.3% 
$1,500,000   AA  Louisiana Local Government Environmental Facilities & Community Development Authority, Revenue Bonds, 5.000% due 10/1/26   $1,831,313 
        Louisiana Public Facilities Authority, Revenue Bonds:     
 40,000   A  Series A, 5.000% due 12/15/22    42,895 
 85,000   A  Series A, 5.000% due 12/15/23    94,942 
        New Orleans Aviation Board, Revenue Bonds:     
 70,000   A-  Series B, 5.000% due 1/1/24(c)    78,072 
 85,000   A-  Series B, 5.000% due 1/1/25(c)    98,011 
 65,000   A-  Series B, 5.000% due 1/1/27(c)    75,049 
 10,000   A-  Series B, 5.000% due 1/1/29(c)    12,117 
 20,000   A-  Series B, 5.000% due 1/1/31(c)    24,059 
 20,000   A-  Series B, 5.000% due 1/1/36(c)    24,010 
 15,000   A-  Series B, 5.000% due 1/1/37(c)    17,973 
 20,000   A-  Series D2, 5.000% due 1/1/26(c)    23,789 
 15,000   A-  Series D2, 5.000% due 1/1/29(c)    18,176 
 20,000   A-  Series D2, 5.000% due 1/1/30(c)    24,097 
 45,000   A-  Series D2, 5.000% due 1/1/32(c)    54,274 
 35,000   A-  Series D2, 5.000% due 1/1/35(c)    42,082 
 15,000   A-  Series D2, 5.000% due 1/1/38(c)    17,941 
        Total Louisiana    2,478,800 
Maine - 0.3%        
 2,500,000   AA+  Maine State Housing Authority, Revenue Bonds, Series B, 3.150% due 11/15/39    2,737,003 
 60,000   AA-  Maine Turnpike Authority, Revenue Bonds, 5.000% due 7/1/27    70,683 
        Total Maine    2,807,686 
Maryland - 4.4%        
        City of Baltimore MD, Revenue Bonds:     
 105,000   AA  Series C, 5.000% due 7/1/28    129,212 
 195,000   AA  Series C, 5.000% due 7/1/31    238,602 
 200,000   AA  Series C, 5.000% due 7/1/33    244,817 
 170,000   AA-  Series D, 5.000% due 7/1/33    208,095 
 4,325,000   AAA  County of Harford MD, GO, Series B, 5.000% due 7/1/26    5,299,024 
 2,500,000   AAA  County of Howard MD, GO, Series D, 5.000% due 2/15/30    3,167,359 
        County of Prince George's MD, GO:     
 3,595,000   AAA  Series A, 5.000% due 7/15/22    3,793,755 
 5,805,000   AAA  Series A, 5.000% due 7/15/29    7,468,935 
 2,065,000   AAA  Series C, Prerefunded 8/1/23 @ 100, 4.000% due 8/1/26(d)    2,237,157 
        Maryland Community Development Administration, Revenue Bonds:     
 345,000   Aa1(a)  Series B, 4.000% due 9/1/49    382,534 
 285,000   Aa1(a)  Series C, 3.500% due 3/1/50    312,135 
 320,000   Aa1(a)  Series C, 5.000% due 9/1/28    407,461 
        Maryland Health & Higher Educational Facilities Authority, Revenue Bonds:     
 155,000   BBB+  Series A, 4.000% due 7/1/42    170,185 
 65,000   BBB+  Series A, 5.000% due 7/1/33    77,292 
 50,000   BBB+  Series A, 5.000% due 7/1/34    59,323 
 20,000   BBB+  Series A, 5.000% due 7/1/35    23,682 
 50,000   BBB+  Series A, 5.000% due 7/1/36    59,077 
 35,000   A  Series A, Prerefunded 7/1/22 @ 100, 5.000% due 7/1/24(d)    36,852 
 30,000   A  Series A, Prerefunded 7/1/22 @ 100, 5.000% due 7/1/25(d)    31,587 
 300,000   AA-  Maryland State Transportation Authority, Revenue Bonds, 5.000% due 7/1/34    397,340 
        State of Maryland, GO:     
 2,775,000   AAA  Series A, 5.000% due 3/1/27    3,461,670 
 5,000,000   AAA  Series A, 5.000% due 3/15/31    6,358,331 
 2,000,000   AAA  Series A, 5.000% due 8/1/31    2,624,215 
 3,000,000   AAA  State of Maryland Department of Transportation, Revenue Bonds, 3.500% due 10/1/33    3,372,304 
        Total Maryland    40,560,944 

 

See Notes to Financial Statements.

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount
   Rating††  Security   Value 
MUNICIPAL BONDS - (continued)     
Massachusetts - 0.9%        
        Commonwealth of Massachusetts, GO:     
$90,000   AA  Series B, 5.000% due 7/1/22   $94,784 
 520,000   AA  Series C, 5.000% due 4/1/23    566,306 
 45,000   AA  Massachusetts Bay Transportation Authority, Revenue Bonds, Series A, 5.000% due 7/1/45    52,786 
        Massachusetts Development Finance Agency, Revenue Bonds:     
 45,000   AA-  5.000% due 7/1/23    49,478 
 115,000   AA-  5.000% due 7/1/24    131,514 
 50,000   A  5.000% due 7/1/30    64,300 
 235,000   A  5.000% due 7/1/31    300,980 
 500,000   Baa2(a)  5.000% due 7/1/34    629,880 
 65,000   AAA  Series A, 5.000% due 7/15/22    68,601 
 145,000   NR  Series A, Prerefunded 11/15/23 @ 100, 6.250% due 11/15/28(d)(g)    162,130 
 500,000   AA+  Series N, 1.450% due 7/1/41(b)    500,507 
 105,000   AA-  Series S, 5.000% due 7/1/30    131,642 
 585,000   A+  Series S-1, 5.000% due 10/1/24    672,166 
 335,000   AA-  Series S4, 5.000% due 7/1/38(b)    376,537 
 500,000   AA-  Massachusetts Port Authority, Revenue Bonds, Series E, 5.000% due 7/1/31(c)    669,532 
 1,170,000   AA  Massachusetts Transportation Trust Fund Metropolitan Highway System Revenue, Revenue Bonds, Series A, 5.000% due 1/1/39(b)    1,258,578 
 2,500,000   AA-  University of Massachusetts Building Authority, Revenue Bonds, Series 1, Prerefunded 11/01/22 @ 100, 4.000% due 11/1/43(d)    2,637,720 
        Total Massachusetts    8,367,441 
Michigan - 1.9%        
 160,000   AA  City of Detroit MI Sewage Disposal System Revenue, Revenue Bonds, Series G, AGM-Insured, 0.735% (3-Month USD-LIBOR), due 7/1/32(b)    160,132 
 85,000   Aa1(a)  Clarkston Community Schools, GO, 5.000% due 5/1/22    88,696 
 1,000,000   AA  Detroit City School District, GO, Series A, AGM, 5.250% due 5/1/30    1,358,377 
 155,000   AA  Detroit Downtown Development Authority, Special Tax, Series A, AGM-Insured, 5.000% due 7/1/37    174,303 
        Grand Rapids Public Schools, GO, AGM:     
 40,000   AA  5.000% due 5/1/27    49,971 
 55,000   AA  5.000% due 5/1/29    67,960 
 100,000   AA  5.000% due 5/1/30    119,525 
 145,000   AA  5.000% due 5/1/31    173,235 
 20,000   AA  5.000% due 5/1/32    23,873 
 90,000   AA  5.000% due 5/1/33    107,334 
        Kalamazoo Hospital Finance Authority, Revenue Bonds:     
 100,000   A2(a)  5.000% due 5/15/27    121,057 
 75,000   A2(a)  5.000% due 5/15/28    90,711 
 100,000   AAA  Kent County Building Authority, Revenue Bonds, 5.500% due 6/1/22    105,377 
 20,000   AA  Kent Hospital Finance Authority, Revenue Bonds, Series A, 5.000% due 11/15/21    20,440 
        Michigan Finance Authority, Revenue Bonds:     
 310,000   AA  AGM, 5.000% due 7/1/22    326,132 
 1,250,000   Aa3(a)  5.000% due 11/1/23    1,386,724 
 45,000   AA-  5.000% due 12/1/23    50,272 
 750,000   Aa3(a)  5.000% due 11/1/24    862,577 
 50,000   AA-  5.000% due 12/1/24    57,950 
 85,000   AA-  5.000% due 12/1/25    101,811 
 40,000   AA-  5.000% due 12/1/26    49,375 
 10,000   AA-  5.000% due 7/1/27    11,803 
 35,000   AA-  5.000% due 12/1/27    44,364 
 160,000   A+  5.000% due 8/15/28    174,505 
 60,000   AA-  5.000% due 12/1/28    75,707 
 30,000   AA-  5.000% due 7/1/29    35,262 

 

See Notes to Financial Statements.

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

  

Face
Amount
    Rating††  Security  Value 
MUNICIPAL BONDS - (continued)  
Michigan - 1.9% - (continued)  
$60,000    A+  5.000% due 8/15/29   $65,260 
 35,000    AA-  5.000% due 7/1/31    41,123 
 30,000    AA-  5.000% due 7/1/32    35,222 
 315,000    A  5.000% due 11/15/32    385,113 
 25,000    AA-  5.000% due 7/1/33    29,329 
 205,000    A  5.000% due 11/15/36    217,926 
 45,000    A  5.000% due 11/15/42    47,716 
 735,000    AA-  5.000% due 12/1/44(b)    854,423 
 45,000    WR(a)  Series A, 5.000% due 6/1/21    45,000 
 65,000    WR(a)  Series A, Prerefunded 6/1/22 @ 100, 5.000% due 6/1/27(d)    68,147 
 140,000    WR(a)  Series A, Prerefunded 6/1/22 @ 100, 5.000% due 6/1/39(d)    146,778 
         Michigan State Building Authority, Revenue Bonds:     
 495,000    AA-  Series I, 5.000% due 10/15/34    598,886 
 80,000    AA-  Series I, 5.000% due 4/15/35    96,603 
         Michigan State Hospital Finance Authority, Revenue Bonds:     
 180,000    AA+  Series C, 2.400% due 11/15/47(b)    187,018 
 45,000    AA-  Series C, 5.000% due 12/1/24    52,155 
 60,000    AA-  Series C, 5.000% due 12/1/26    74,062 
 40,000    AA-  Series C, 5.000% due 12/1/27    50,730 
 60,000    AA-  Series C, 5.000% due 12/1/28    75,707 
 710,000    AA+  Series F5, 4.000% due 11/15/47(b)    789,743 
         Michigan Strategic Fund, Revenue Bonds:     
 290,000    A  1.450% due 8/1/29(b)    290,881 
 35,000    A  1.450% due 9/1/30(b)    35,106 
 500,000    A  1.800% due 10/1/49(b)(c)    516,168 
         Portage Public Schools, GO:     
 35,000    AA-  5.000% due 11/1/27    42,529 
 90,000    AA-  5.000% due 11/1/29    108,777 
         Royal Oak Hospital Finance Authority, Revenue Bonds:     
 30,000    A+  5.000% due 9/1/22    31,791 
 60,000    A+  5.000% due 9/1/24    67,524 
 95,000    AA  State of Michigan, Revenue Bonds, 5.000% due 3/15/27    118,513 
 1,500,000    Aa1(a)  State of Michigan, GO, Series A, 4.000% due 5/15/38    1,826,644 
         Warren Consolidated Schools, GO:     
 130,000    AA  5.000% due 5/1/30    157,683 
 140,000    AA  5.000% due 5/1/31    169,661 
 145,000    AA  5.000% due 5/1/32    175,564 
         Wayne County Airport Authority, Revenue Bonds:     
 5,000    A-  Series A, 5.000% due 12/1/29    6,278 
 10,000    A-  Series A, 5.000% due 12/1/30    12,531 
 10,000    A-  Series A, 5.000% due 12/1/31    12,496 
 15,000    A-  Series A, 5.000% due 12/1/36    18,581 
 620,000    A-  Series B, 5.000% due 12/1/29(c)    771,876 
 15,000    A-  Series B, 5.000% due 12/1/30(c)    18,636 
 15,000    A-  Series B, 5.000% due 12/1/31(c)    18,584 
 10,000    A-  Series B, 5.000% due 12/1/33(c)    12,380 
 25,000    A-  Series B, 5.000% due 12/1/36(c)    30,776 
 60,000    A-  Series C, 5.000% due 12/1/22    64,309 
 65,000    A-  Series C, 5.000% due 12/1/23    72,615 
 70,000    A-  Series C, 5.000% due 12/1/24    81,156 
 70,000    A-  Series C, 5.000% due 12/1/25    83,741 
 45,000    A-  Series C, 5.000% due 12/1/26    55,382 
 45,000    A-  Series C, 5.000% due 12/1/27    56,779 
         Western Michigan University, Revenue Bonds, AGM:     
 700,000    AA  Series C, 5.000% due 11/15/36    892,830 

 

See Notes to Financial Statements.

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

  

Face
Amount
    Rating††  Security  Value 
MUNICIPAL BONDS - (continued)     
Michigan - 1.9% - (continued)        
$800,000   AA  Series C, 5.000% due 11/15/38   $1,014,765 
 950,000   AA  Series C, 5.000% due 11/15/40    1,199,525 
        Total Michigan    17,662,495 
Minnesota - 1.8%        
 2,500,000   AAA  Metropolitan Council, GO, Series I, 3.000% due 3/1/27    2,545,378 
        State of Minnesota, GO:     
 1,000,000   AAA  Series A, 5.000% due 8/1/32    1,314,913 
 5,000,000   AAA  Series A, 5.000% due 8/1/37    6,388,046 
 4,835,000   AAA  Series B, 5.000% due 8/1/27    6,120,243 
        Total Minnesota    16,368,580 
Mississippi - 0.3%        
        Mississippi Hospital Equipment & Facilities Authority, Revenue Bonds:     
 225,000   A2(a)  5.000% due 1/1/30    287,465 
 435,000   A2(a)  5.000% due 1/1/34    547,311 
 170,000   A+  5.000% due 10/1/40(b)    202,543 
        State of Mississippi, GO:     
 160,000   AA  Series A, 5.000% due 10/1/30    199,934 
 1,250,000   AA  Series A, 5.000% due 10/1/34    1,562,866 
        Total Mississippi    2,800,119 
Missouri - 0.4%        
        Health & Educational Facilities Authority of the State of Missouri, Revenue Bonds:     
 30,000   A+  5.000% due 5/15/29    35,634 
 30,000   A+  5.000% due 5/15/30    35,456 
 30,000   A+  5.000% due 5/15/31    35,357 
 85,000   A+  5.000% due 5/15/36    99,721 
 20,000   A+  Series B, 4.000% due 2/1/40    21,763 
 70,000   A+  Series B, 5.000% due 2/1/30    81,337 
 80,000   A+  Series B, 5.000% due 2/1/32    92,425 
 65,000   A+  Series B, 5.000% due 2/1/36    74,297 
 105,000   A+  Series B, 5.000% due 2/1/45    118,791 
 2,500,000   AAA  Metropolitan St Louis Sewer District, Revenue Bonds, Series A, 5.000% due 5/1/37    3,063,276 
 80,000   AA+  Missouri Housing Development Commission, Revenue Bonds, 4.000% due 5/1/50    89,131 
        Total Missouri    3,747,188 
Montana - 0.1%        
        Montana Board of Housing, Revenue Bonds:     
 80,000   AA+  Series A-1, 4.000% due 12/1/47(c)    84,882 
 40,000   AA+  Series B, 4.000% due 6/1/50    45,371 
        Montana Facility Finance Authority, Revenue Bonds:     
 40,000   A+(e)  5.000% due 2/15/22    41,292 
 60,000   A+(e)  5.000% due 2/15/23    64,654 
 60,000   A+(e)  5.000% due 2/15/24    67,169 
 60,000   A+(e)  5.000% due 2/15/25    69,502 
 90,000   A+(e)  5.000% due 2/15/26    107,528 
        Total Montana    480,398 
Nebraska - 0.1%        
        Nebraska Investment Finance Authority, Revenue Bonds:     
 220,000   AA+  Series B, 4.000% due 9/1/49(c)    241,481 
 230,000   AA+  Series E, 3.750% due 9/1/49(c)    248,236 
        Nebraska Public Power District, Revenue Bonds:     
 115,000   A+  Series B, 5.000% due 1/1/31    136,875 
 125,000   A+  Series B, 5.000% due 1/1/34    148,586 
 155,000   A+  Series B, 5.000% due 1/1/36    183,782 
        Total Nebraska    958,960 

 

See Notes to Financial Statements.

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

  

Face
Amount
    Rating††  Security  Value 
MUNICIPAL BONDS - (continued)     
Nevada - 1.1%        
        City of Carson City NV, Revenue Bonds:     
$20,000   A-  5.000% due 9/1/24   $22,774 
 15,000   A-  5.000% due 9/1/28    18,502 
 20,000   A-  5.000% due 9/1/30    24,378 
 20,000   A-  5.000% due 9/1/32    24,251 
 20,000   A-  5.000% due 9/1/34    24,147 
        Clark County School District, GO:     
 75,000   A+  Series A, 5.000% due 6/15/21    75,130 
 65,000   A+  Series A, 5.000% due 6/15/23    71,211 
 1,000,000   A+  Series C, 5.000% due 6/15/23    1,095,553 
 280,000   A  County of Clark Department of Aviation, Revenue Bonds, Series C, 5.000% due 7/1/21(c)    281,095 
 2,250,000   AA+  County of Clark NV, GO, Series A, 5.000% due 6/1/35    2,814,379 
 1,300,000   A+  County of Washoe NV, Revenue Bonds, 2.050% due 3/1/36(b)(c)    1,319,509 
        Las Vegas Valley Water District, GO:     
 85,000   AA  Series A, 5.000% due 6/1/32    102,339 
 145,000   AA  Series A, 5.000% due 6/1/33    174,341 
 155,000   AA  Series A, 5.000% due 6/1/34    186,029 
 30,000   AA  Series B, 5.000% due 6/1/22    31,464 
 60,000   AA  Series B, 5.000% due 6/1/23    62,902 
 60,000   AA  Series B, 5.000% due 6/1/24    62,853 
 30,000   AA  Series B, 5.000% due 6/1/25    31,417 
 120,000   AA+  Nevada Housing Division, Revenue Bonds, Series B, 4.000% due 10/1/49    133,375 
        State of Nevada, GO:     
 40,000   AA+  5.000% due 8/1/21    40,322 
 80,000   AA+  5.000% due 3/1/25    86,614 
 2,665,000   AA+  Series A, 5.000% due 5/1/27    3,322,310 
        Total Nevada    10,004,895 
New Hampshire - 0.2%        
 740,000   A-  New Hampshire Business Finance Authority, Revenue Bonds, 2.150% due 7/1/27(b)(c)    776,447 
        New Hampshire Health & Education Facilities Authority Act, Revenue Bonds:     
 40,000   BBB+  4.000% due 7/1/22    41,442 
 25,000   A-  4.000% due 10/1/38    27,856 
 40,000   AA-  5.000% due 7/1/24    45,744 
 35,000   BBB+  5.000% due 7/1/26    36,553 
 135,000   A-  5.000% due 10/1/26    164,581 
 145,000   A-  5.000% due 10/1/27    176,459 
 60,000   A-  5.000% due 10/1/28    72,600 
 70,000   AA-  5.000% due 7/1/30    87,761 
 65,000   A  5.000% due 8/1/30    81,148 
 210,000   A-  5.000% due 10/1/30    251,555 
 70,000   A2(a)  Series A, Prerefunded 10/1/22 @ 100, 5.000% due 10/1/43(d)    74,462 
        New Hampshire State Turnpike System, Revenue Bonds:     
 65,000   AA-  Series B, 5.000% due 2/1/22    67,103 
 65,000   AA-  Series B, 5.000% due 2/1/23    67,073 
 50,000   AA-  Series B, 5.000% due 2/1/24    51,566 
        Total New Hampshire    2,022,350 
New Jersey - 2.4%        
        Camden County Improvement Authority, Revenue Bonds:     
 60,000   BBB+  5.000% due 2/15/24    67,083 
 30,000   BBB+  5.000% due 2/15/25    33,514 
        City of Bayonne NJ, GO:     
 45,000   AA  5.000% due 7/1/31    53,859 
 30,000   AA  5.000% due 7/1/32    35,906 
 30,000   AA  5.000% due 7/1/33    35,873 

 

See Notes to Financial Statements.

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

  

Face
Amount
    Rating††  Security  Value 
MUNICIPAL BONDS - (continued)     
New Jersey - 2.4% - (continued)        
        New Jersey Economic Development Authority, Revenue Bonds:     
$40,000   BBB  5.000% due 3/1/25   $43,265 
 850,000   BBB  5.000% due 11/1/34    1,070,512 
 1,000,000   BBB  Series EEE, 5.000% due 6/15/30    1,259,061 
 270,000   BBB  Series NN, 5.000% due 3/1/23    292,123 
 370,000   BBB  Series NN, 5.000% due 3/1/24    400,405 
 580,000   BBB  Series XX, 5.000% due 6/15/26    678,935 
 55,000   Baa1(a)  New Jersey Educational Facilities Authority, Revenue Bonds, Series A, 5.000% due 7/1/29    65,245 
        New Jersey Health Care Facilities Financing Authority, Revenue Bonds:     
 620,000   AA-  5.000% due 7/1/42(b)    730,399 
 625,000   AA-  5.000% due 7/1/45(b)    758,171 
 15,000   AA  Series A, 5.000% due 7/1/28    18,327 
 45,000   AA  Series A, 5.000% due 7/1/33    54,605 
        New Jersey Higher Education Student Assistance Authority, Revenue Bonds:     
 40,000   AA  Series 1A, 5.000% due 12/1/22(c)    42,766 
 100,000   AA  Series 1A, 5.000% due 12/1/24(c)    115,183 
 40,000   AAA  Series 1B, 5.000% due 12/1/21(c)    40,933 
 165,000   Aa1(a)  Series A, 5.000% due 12/1/22    176,668 
 115,000   Aa1(a)  Series A, 5.000% due 12/1/23    128,259 
 65,000   Aa1(a)  Series A, 5.000% due 12/1/24    74,991 
 125,000   Aa1(a)  Series A, 5.000% due 12/1/25    148,313 
        New Jersey Transportation Trust Fund Authority, Revenue Bonds:     
 100,000   BBB  4.000% due 12/15/39    115,340 
 5,000,000   A+  5.000% due 6/15/24    5,679,238 
 435,000   A+  5.000% due 6/15/27    523,201 
 1,320,000   BBB  5.000% due 12/15/28    1,675,892 
 200,000   BBB  5.000% due 12/15/39    249,617 
 870,000   BBB  Series A, zero coupon, due 12/15/27    787,233 
 195,000   BBB  Series A, zero coupon, due 12/15/28    170,944 
 220,000   BBB  Series A, 5.000% due 12/15/33    274,991 
 2,000,000   BBB  Series A, 5.000% due 12/15/34    2,494,880 
 215,000   BBB  Series AA, 5.000% due 6/15/23    225,699 
 345,000   BBB  Series AA, 5.000% due 6/15/24    362,168 
 360,000   BBB  Series AA, 5.000% due 6/15/25    409,129 
 215,000   BBB  Series AA, 5.000% due 6/15/26    244,076 
 145,000   BBB  Series AA, 5.000% due 6/15/29    152,216 
        New Jersey Turnpike Authority, Revenue Bonds:     
 1,000,000   A+  Series A, 4.000% due 1/1/42    1,196,011 
 1,500,000   A+  Series B, 1.047% due 1/1/26    1,496,976 
        Total New Jersey    22,382,007 
New Mexico - 0.1%        
 490,000   AA  New Mexico Hospital Equipment Loan Council, Revenue Bonds, Series B, 5.000% due 8/1/49(b)    577,042 
 165,000   Aaa(a)  New Mexico Mortgage Finance Authority, Revenue Bonds, Series D, 3.750% due 1/1/50    182,137 
        Total New Mexico    759,179 
New York - 11.2%        
        City of New York NY, GO:     
 190,000   AA  Series A, 5.000% due 8/1/22    200,827 
 5,880,000   AA  Series B1, 5.000% due 11/1/30    7,872,076 
 2,035,000   AA  Series B1, 5.000% due 12/1/38    2,483,633 
 90,000   AA  Series C, 5.000% due 8/1/27    104,873 
 5,000,000   AA  Series D1, 5.000% due 12/1/34    6,340,198 
 1,000,000   AA  Series F1, 5.000% due 4/1/43    1,226,072 
 2,000,000   AA  Series H, 5.000% due 1/1/36    2,516,568 

 

See Notes to Financial Statements.

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

  

Face
Amount
    Rating††  Security  Value 
MUNICIPAL BONDS - (continued)     
New York - 11.2% - (continued)        
$90,000   AA  Series J, 5.000% due 8/1/22   $95,128 
 1,925,000   AA  County of Nassau NY, GO, Series A, AGM-Insured, 5.000% due 4/1/32    2,414,304 
        Hudson Yards Infrastructure Corp., Revenue Bonds:     
 115,000   A+  Series A, 5.000% due 2/15/32    140,588 
 215,000   A+  Series A, 5.000% due 2/15/35    261,102 
        Long Island Power Authority, Revenue Bonds:     
 1,020,000   A  Series B, 1.650% due 9/1/49(b)    1,053,808 
 60,000   A  Series B, 5.000% due 9/1/22    63,621 
 45,000   A  Series B, 5.000% due 9/1/23    49,849 
 40,000   A  Series B, 5.000% due 9/1/24    46,065 
        Metropolitan Transportation Authority, Revenue Bonds:     
 125,000   BBB+  Series A1, 5.000% due 11/15/35    143,106 
 145,000   BBB+  Series A1, 5.000% due 11/15/36    165,816 
 245,000   BBB+  Series A2, 5.000% due 11/15/29    298,380 
 270,000   BBB+  Series B, 5.000% due 11/15/30    324,514 
 290,000   BBB+  Series C1, 5.000% due 11/15/27    353,042 
 685,000   BBB+  Series C1, 5.000% due 11/15/28    804,424 
 300,000   BBB+  Series C1, 5.000% due 11/15/31    373,314 
 415,000   BBB+  Series D1, 5.000% due 11/15/30    469,800 
        MTA Hudson Rail Yards Trust Obligations, Revenue Bonds:     
 370,000   A3(a)  Series A, 5.000% due 11/15/51    376,849 
 860,000   A3(a)  Series A, 5.000% due 11/15/56    929,747 
 2,500,000   AAA  Nassau County Interim Finance Authority, Revenue Bonds, Series BB, 0.829% due 11/15/26    2,482,489 
 3,000,000   AA  New York City Transitional Finance Authority Building Aid Revenue, Revenue Bonds, Series S1, 5.000% due 7/15/29    3,746,274 
        New York City Transitional Finance Authority Future Tax Secured Revenue, Revenue Bonds:     
 2,500,000   AAA  0.010% due 8/1/45(b)    2,500,000 
 160,000   AAA  Series A, 5.000% due 11/1/21    163,248 
 275,000   AAA  Series C2, 5.000% due 5/1/32    348,374 
 5,390,000   AAA  Series E1, 4.000% due 2/1/38    6,541,845 
        New York City Water & Sewer System, Revenue Bonds:     
 4,285,000   AA+  0.010% due 6/15/50(b)    4,285,000 
 1,725,000   AA+  5.000% due 6/15/23    1,895,402 
 1,100,000   AA+  5.000% due 6/15/29    1,451,461 
 5,000,000   AA+  Series AA, 5.000% due 6/15/32    5,008,824 
        New York State Dormitory Authority, Revenue Bonds:     
 385,000   AA  5.000% due 5/15/23    402,872 
 750,000   A-  5.000% due 5/1/48(b)    826,858 
 2,500,000   AA+  Series A, 4.000% due 3/15/37    3,045,439 
 5,000,000   Aa2(a)  Series A, 5.000% due 9/15/22    5,315,094 
 4,500,000   AA  AGM, Series A, 5.000% due 10/1/33    5,789,722 
 4,000,000   Aa2(a)  Series A, 5.250% due 3/15/38    5,140,500 
 2,150,000   AAA  New York State Environmental Facilities Corp., Revenue Bonds, Series A, 5.000% due 6/15/33    2,743,817 
        New York State Urban Development Corp., Revenue Bonds:     
 65,000   AA+  Series A, 5.000% due 3/15/22    67,511 
 80,000   AA+  Series A, 5.000% due 3/15/32    98,189 
 5,000,000   AA+  Series E, 4.000% due 3/15/38    5,976,316 
 175,000   AA-  Onondaga Civic Development Corp., Revenue Bonds, Series A, 5.000% due 12/1/33    230,623 
        Port Authority of New York & New Jersey, Revenue Bonds:     
 5,000,000   A+  Series 207, 5.000% due 9/15/24(c)    5,736,086 
 1,400,000   A+  Series 226, 5.000% due 10/15/30(c)    1,844,691 
 2,000,000   A+  Series 226, 5.000% due 10/15/31(c)    2,676,304 

 

See Notes to Financial Statements.

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

  

Face
Amount
    Rating††  Security  Value 
MUNICIPAL BONDS - (continued)     
New York - 11.2% - (continued)        
$1,250,000   A+  Series 226, 5.000% due 10/15/32(c)   $1,635,176 
 500,000   A+  Series 226, 5.000% due 10/15/33(c)    650,679 
 400,000   AA+  Sales Tax Asset Receivable Corp., Revenue Bonds, Series A, 4.000% due 10/15/32    446,061 
 85,000   Aa1(a)  State of New York Mortgage Agency, Revenue Bonds, Series 211, 3.500% due 10/1/32(c)    92,506 
        Triborough Bridge & Tunnel Authority, Revenue Bonds:     
 4,000,000   AA-  Series A, Prerefunded 1/1/22 @ 100, 5.000% due 1/1/26(d)    4,114,678 
 85,000   AA-  Series B, 5.000% due 11/15/23    94,902 
 115,000   AA-  Series B, 5.000% due 11/15/24    128,217 
        Total New York    104,586,862 
North Carolina - 1.3%        
        County of New Hanover NC, Revenue Bonds:     
 25,000   WR(a)  5.000% due 10/1/27    31,346 
 205,000   WR(a)  Series Prerefunded 10/1/27 @ 100, 5.000% due 10/1/47(d)    257,036 
 655,000   AA-  North Carolina Medical Care Commission, Revenue Bonds, 2.200% due 12/1/48(b)    667,382 
 105,000   Aa3(a)  Raleigh Durham Airport Authority, Revenue Bonds, Series A, 5.000% due 5/1/29(c)    135,590 
        State of North Carolina, Revenue Bonds:     
 330,000   AA  5.000% due 3/1/22    342,117 
 290,000   AA  5.000% due 3/1/23    313,922 
 10,000,000   AAA  University of North Carolina at Chapel Hill, Revenue Bonds, Series B, 0.424% (1-Month USD-LIBOR), due 12/1/34(b)    10,001,067 
        Total North Carolina    11,748,460 
Ohio - 0.7%        
        American Municipal Power Inc., Revenue Bonds:     
 60,000   A  5.000% due 2/15/22    62,046 
 40,000   A  5.000% due 2/15/42    41,329 
 800,000   A  Series A, 2.300% due 2/15/38(b)    803,299 
 65,000   A  Series Prerefunded 2/15/22 @ 100, 5.000% due 2/15/23(d)    67,228 
 60,000   A  Series Prerefunded 2/15/22 @ 100, 5.000% due 2/15/24(d)    62,056 
        City of Cleveland OH Airport System Revenue, Revenue Bonds, AGM:     
 30,000   AA  Series A, 5.000% due 1/1/26    34,650 
 45,000   AA  Series A, 5.000% due 1/1/28    51,975 
 65,000   AA  Series A, 5.000% due 1/1/29    75,074 
 60,000   AA  Series A, 5.000% due 1/1/30    69,299 
        Cleveland Department of Public Utilities Division of Water, Revenue Bonds:     
 35,000   AA  Series A, Prerefunded 1/1/22 @ 100, 5.000% due 1/1/26(d)    36,001 
 45,000   AA  Series A, Prerefunded 1/1/22 @ 100, 5.000% due 1/1/27(d)    46,287 
 55,000   AA  Columbus City School District, GO, 5.000% due 12/1/32    66,130 
        County of Allen OH Hospital Facilities Revenue, Revenue Bonds:     
 125,000   A+  5.000% due 12/1/29    164,383 
 125,000   A+  5.000% due 12/1/30    164,761 
 80,000   A+  Series B, 5.000% due 8/1/47(b)    83,440 
 60,000   Aa2(a)  County of Franklin OH, Revenue Bonds, 5.000% due 11/1/26    73,672 
 140,000   A-  County of Hamilton OH, Revenue Bonds, 5.250% due 6/1/26    145,784 
 135,000   BBB  County of Lucas OH, Revenue Bonds, Series A, Prerefunded 11/15/21 @ 100, 6.500% due 11/15/37(d)    138,910 
 465,000   A3(a)  County of Scioto OH, Revenue Bonds, 5.000% due 2/15/29    547,574 
 285,000   Aa3(a)  Miami University, Revenue Bonds, Series A, 5.000% due 9/1/30    382,896 
 50,000   Aaa(a)  Ohio Housing Finance Agency, Revenue Bonds, Series B, 4.500% due 3/1/50    56,297 
 1,000,000   AA  Ohio State University, Revenue Bonds, Series A, 5.000% due 12/1/30    1,348,548 
 2,000,000   AAA  Ohio Water Development Authority Water Pollution Control Loan Fund, Revenue Bonds, Series A, 0.040% due 12/1/36(b)    2,000,000 
        State of Ohio, Revenue Bonds:     
 75,000   AA  5.000% due 1/1/27    93,027 
 145,000   AA  5.000% due 1/1/29    184,283 

 

See Notes to Financial Statements.

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

  

Face
Amount
    Rating††  Security  Value 
MUNICIPAL BONDS - (continued)     
Ohio - 0.7% - (continued)        
$90,000   A  Series A, 4.000% due 1/15/50   $103,659 
        Total Ohio    6,902,608 
Oklahoma - 0.2%        
 560,000   AA-  Canadian County Educational Facilities Authority, Revenue Bonds, 5.000% due 9/1/26    684,690 
        Grand River Dam Authority, Revenue Bonds:     
 35,000   AA-  Series A, 5.000% due 6/1/27    39,623 
 45,000   AA-  Series A, 5.000% due 6/1/28    50,915 
 90,000   WR(a)  Oklahoma Development Finance Authority, Revenue Bonds, Series Prerefunded 2/15/22 @ 100, 5.000% due 2/15/23(d)    93,084 
        Oklahoma Municipal Power Authority, Revenue Bonds:     
 50,000   A  Series A, 5.000% due 1/1/26    57,837 
 175,000   A  Series A, 5.000% due 1/1/27    201,882 
 60,000   A  Series A, 5.000% due 1/1/28    69,083 
 45,000   A  Series A, 5.000% due 1/1/29    51,813 
 60,000   A  Series B, 5.000% due 1/1/27    69,217 
 600,000   AAA  Oklahoma Water Resources Board, Revenue Bonds, Series A, 4.000% due 4/1/35    736,875 
        Total Oklahoma    2,055,019 
Oregon - 0.9%        
 85,000   Aa1(a)  Hillsboro School District No 1J, GO, 5.000% due 6/15/30    106,093 
 3,800,000   A+  Oregon State Business Development Commission, Revenue Bonds, Series 232, 2.400% due 12/1/40(b)    3,964,837 
        Port of Portland OR Airport Revenue, Revenue Bonds:     
 300,000   A+  5.000% due 7/1/28(c)    380,178 
 165,000   A+  5.000% due 7/1/29    207,236 
 205,000   A+  Series 24B, 5.000% due 7/1/32(c)    247,005 
 2,675,000   AA+  Salem-Keizer School District No 24J, GO, 5.000% due 6/15/32    3,412,391 
        Total Oregon    8,317,740 
Pennsylvania - 1.4%        
        City of Philadelphia PA, GO:     
 550,000   A  Series A, 5.000% due 8/1/22    581,003 
 1,000,000   A  Series B, 5.000% due 2/1/24    1,121,590 
 85,000   A  Series B, 5.000% due 8/1/27    100,405 
 300,000   A  Series B, 5.000% due 8/1/29    353,015 
 320,000   A  Series B, 5.000% due 8/1/30    376,550 
 335,000   A  Series B, 5.000% due 8/1/31    394,049 
        City of Philadelphia PA Airport Revenue, Revenue Bonds:     
 50,000   A-  Series B, 5.000% due 7/1/30(c)    61,454 
 70,000   A-  Series B, 5.000% due 7/1/31(c)    85,762 
        Commonwealth Financing Authority, Revenue Bonds:     
 1,010,000   A  Series A, 5.000% due 6/1/28    1,269,899 
 500,000   A  Series B, 5.000% due 6/1/25    585,252 
        Commonwealth of Pennsylvania, GO:     
 290,000   A+  5.000% due 10/15/27    322,047 
 810,000   A+  5.000% due 9/15/29    982,052 
        General Authority of Southcentral Pennsylvania, Revenue Bonds:     
 190,000   Aa3(a)  5.000% due 6/1/38    239,377 
 310,000   Aa3(a)  5.000% due 6/1/39    389,676 
 1,000,000   A  Lehigh County Industrial Development Authority, Revenue Bonds, Series A, 1.800% due 9/1/29(b)    1,018,280 
        Montgomery County Higher Education & Health Authority, Revenue Bonds:     
 325,000   A  5.000% due 9/1/33    413,987 
 115,000   A  Series A, AMBAC, 6.000% due 6/1/22    121,427 
 1,000,000   A+  Northampton County General Purpose Authority, Revenue Bonds, 5.000% due 11/1/27    1,252,090 

 

See Notes to Financial Statements.

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount
    Rating††  Security  Value 
MUNICIPAL BONDS - (continued)     
Pennsylvania - 1.4% - (continued)     
$60,000    A  Pennsylvania Economic Development Financing Authority, Revenue Bonds, 5.000% due 3/1/22  $62,032 
         Pennsylvania Higher Educational Facilities Authority, Revenue Bonds:     
 775,000    AA  4.000% due 8/15/38   896,012 
 900,000    AA  5.000% due 8/15/32   1,164,455 
 35,000    AA  Series A, 5.000% due 8/15/27   44,058 
 35,000    AA  Series A, 5.000% due 8/15/28   43,938 
 60,000    AA  Series A, 5.000% due 8/15/30   74,877 
         Pennsylvania Turnpike Commission, Revenue Bonds:     
 15,000    A1(a)  Series A1, 5.000% due 12/1/22   16,101 
 15,000    A1(a)  Series A1, 5.000% due 12/1/23   16,797 
 45,000    A1(a)  Series A1, 5.000% due 12/1/29   56,894 
 30,000    A1(a)  Series A1, 5.000% due 12/1/34   37,457 
 35,000    A  Series A2, 5.000% due 12/1/28   42,332 
 35,000    A  Series A2, 5.000% due 12/1/33   44,442 
 250,000    A-  Philadelphia Authority for Industrial Development, Revenue Bonds, 4.000% due 11/1/21   253,630 
         Philadelphia Gas Works Co., Revenue Bonds:     
 30,000    A  5.000% due 8/1/23   32,975 
 20,000    A  5.000% due 8/1/24   22,738 
 250,000    AA  Pittsburgh Water & Sewer Authority, Revenue Bonds, Series A, AGM-Insured, 5.000% due 9/1/44   315,492 
 40,000    A2(a)  State Public School Building Authority, Revenue Bonds, 5.000% due 6/1/26   46,820 
         Total Pennsylvania   12,838,965 
Rhode Island - 0.5%        
         Rhode Island Health & Educational Building Corp., Revenue Bonds:     
 240,000    AA  AGM, 5.000% due 5/15/25   282,688 
 2,000,000    AA+  Series A, 5.000% due 9/1/29   2,509,842 
 145,000    AA+  Rhode Island Housing & Mortgage Finance Corp., Revenue Bonds, Series 70, 4.000% due 10/1/49   160,502 
         Rhode Island Student Loan Authority, Revenue Bonds:     
 70,000    AA  Series A, 3.500% due 12/1/34(c)   72,584 
 1,125,000    AA  Series A, 5.000% due 12/1/26(c)   1,362,251 
         Tobacco Settlement Financing Corp., Revenue Bonds:     
 55,000    BBB  Series A, 5.000% due 6/1/27   64,735 
 70,000    BBB  Series A, 5.000% due 6/1/28   81,875 
         Total Rhode Island   4,534,477 
South Carolina - 1.6%        
         Beaufort-Jasper Water & Sewer Authority, Revenue Bonds:     
 30,000    AA+  Series B, 5.000% due 3/1/22   31,102 
 30,000    AA+  Series B, 5.000% due 3/1/24   33,886 
 30,000    AA+  Series B, 5.000% due 3/1/25   35,142 
 2,500,000    AAA  County of Charleston SC, GO, Series C, 5.000% due 11/1/27   3,180,177 
 8,000,000    Aa2(a)  Patriots Energy Group Financing Agency, Revenue Bonds, Series A, 4.000% due 10/1/48(b)(h)   8,719,503 
         Scago Educational Facilities Corp. for Colleton School District, Revenue Bonds:     
 115,000    A-  5.000% due 12/1/27   133,469 
 95,000    A-  5.000% due 12/1/29   110,319 
         South Carolina Jobs-Economic Development Authority, Revenue Bonds:     
 65,000    A+  5.000% due 2/1/22   67,072 
 30,000    A+  5.000% due 2/1/24   33,690 
 50,000    A+  5.000% due 2/1/25   58,164 
 50,000    A+  5.000% due 2/1/26   60,052 
         South Carolina Ports Authority, Revenue Bonds:     
 65,000    A+  5.000% due 7/1/28(c)   82,169 

 

See Notes to Financial Statements.

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount
  Rating††  Security  Value 
MUNICIPAL BONDS - (continued)     
South Carolina - 1.6% - (continued)     
$140,000   A+  5.000% due 7/1/30(c)  $175,625 
        South Carolina Public Service Authority, Revenue Bonds:     
 515,000   A  Series A, 5.500% due 12/1/54   584,064 
 185,000   A  Series B, 5.000% due 12/1/35   224,551 
 275,000   A  Series B, 5.000% due 12/1/36   333,160 
 115,000   A  Series C, 5.000% due 12/1/25   132,735 
 115,000   A  Series C, 5.000% due 12/1/26   132,344 
 90,000   A  Series C, 5.000% due 12/1/27   103,480 
 105,000   A  Series C, 5.000% due 12/1/46   119,859 
 190,000   A  Series E, 5.500% due 12/1/53   212,231 
        South Carolina State Housing Finance & Development Authority, Revenue Bonds:     
 195,000   Aaa(a)  Series A, 4.000% due 1/1/50   218,872 
 170,000   Aaa(a)  Series A, 4.000% due 7/1/50   192,025 
        Total South Carolina   14,973,691 
South Dakota - 0.0%        
        South Dakota Health & Educational Facilities Authority, Revenue Bonds:     
 30,000   AA-  5.000% due 7/1/23   32,873 
 15,000   AA-  5.000% due 7/1/24   17,070 
 10,000   AA-  5.000% due 7/1/27   12,467 
 50,000   AA-  5.000% due 7/1/33   60,728 
 40,000   AA-  5.000% due 7/1/35   48,421 
 35,000   A+  Series B, 5.000% due 11/1/24   40,460 
 35,000   A+  Series B, 5.000% due 11/1/25   40,369 
 5,000   A+  Series B, 5.000% due 11/1/26   5,763 
        Total South Dakota   258,151 
Tennessee - 1.0%        
 1,585,000   AAA  City of Chattanooga TN, GO, Series A, 4.000% due 2/1/33   1,919,489 
        Greeneville Health & Educational Facilities Board, Revenue Bonds:     
 30,000   A-  Series A, 5.000% due 7/1/29   37,742 
 35,000   A-  Series A, 5.000% due 7/1/30   43,745 
        Knox County Health Educational & Housing Facility Board, Revenue Bonds:     
 35,000   BBB  5.000% due 9/1/22   36,976 
 30,000   BBB  5.000% due 4/1/24   33,687 
 30,000   BBB  5.000% due 9/1/24   34,172 
 40,000   BBB  5.000% due 4/1/25   46,426 
 6,240,000   Aa2(a)  Tennergy Corp., Revenue Bonds, Series A, 5.000% due 2/1/50(b)   7,143,319 
 350,000   A2(a)  Tennessee Energy Acquisition Corp., Revenue Bonds, Series A, 4.000% due 5/1/48(b)   372,748 
        Total Tennessee   9,668,304 
Texas - 12.3%            
 1,895,000   AAA  Alamo Community College District, GO, 5.000% due 8/15/34   2,365,546 
 40,000   AA-  Austin Community College District, Revenue Bonds, AMBAC-Insured, zero coupon, due 2/1/22   39,898 
        Board of Regents of the University of Texas System, Revenue Bonds:     
 90,000   AAA  Series B, 5.000% due 8/15/22   95,320 
 65,000   AAA  Series D, 5.000% due 8/15/21   65,649 
 70,000   AAA  Series D, 5.000% due 8/15/22   74,137 
 80,000   AAA  Series E, 5.000% due 8/15/22   84,729 
 90,000   AAA  Series J, 5.000% due 8/15/22   95,320 
 6,990,000   Aaa(a)  Brazosport Independent School District, GO, PSF-GTD-Insured, 5.000% due 2/15/29   9,127,042 
        Central Texas Regional Mobility Authority, Revenue Bonds:     
 70,000   A-  5.000% due 1/1/31   81,936 
 145,000   A-  5.000% due 1/1/32   169,176 
 95,000   A-  5.000% due 1/1/35   110,460 
 45,000   A-  5.000% due 1/1/36   52,299 
 35,000   A-  Series A, 5.000% due 1/1/31   40,408 

 

See Notes to Financial Statements.

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount
  Rating††  Security  Value 
MUNICIPAL BONDS - (continued)     
Texas - 12.3% - (continued)        
$30,000   A-  Series A, 5.000% due 1/1/32  $34,534 
 60,000   A-  Series A, 5.000% due 1/1/34   68,854 
 160,000   A-  Series A, 5.000% due 1/1/40   183,510 
 600,000   A-  Series B, 4.000% due 1/1/41   716,178 
 375,000   A-  Series B, 5.000% due 1/1/29   481,089 
 1,800,000   A-  Series E, 5.000% due 1/1/38   2,288,635 
 45,000   AA  City of Arlington TX, Special Tax, Series C, 5.000% due 2/15/45   45,130 
 1,770,000   AAA  City of Austin TX, GO, 5.000% due 5/1/27   2,215,876 
        City of Austin TX Airport System Revenue, Revenue Bonds:     
 165,000   A  5.000% due 11/15/26(c)   189,402 
 80,000   A  5.000% due 11/15/29(c)   91,183 
 45,000   AA  City of Austin TX Electric Utility Revenue, Revenue Bonds, Series A, 5.000% due 11/15/23   48,226 
        City of Dallas TX, GO:     
 130,000   AA-  5.000% due 2/15/23   134,415 
 170,000   AA-  5.000% due 2/15/24   191,586 
 3,000,000   AAA  City of Dallas TX Waterworks & Sewer System Revenue, Revenue Bonds, Series A, 5.000% due 10/1/27   3,571,227 
        City of Houston TX, GO:     
 2,000,000   AA  Series A, 5.000% due 3/1/22   2,073,590 
 60,000   Aa3(a)  Series A, 5.000% due 3/1/23   65,126 
 290,000   Aa3(a)  Series A, 5.000% due 3/1/24   327,647 
 120,000   Aa3(a)  Series A, 5.000% due 3/1/25   140,421 
        City of Houston TX Airport System Revenue, Revenue Bonds:     
 50,000   A1(a)  Series A, 5.000% due 7/1/26(c)   60,422 
 60,000   A1(a)  Series A, 5.000% due 7/1/27(c)   74,321 
 30,000   A1(a)  Series A, 5.000% due 7/1/28(c)   37,994 
 350,000   A  Series A, Prerefunded  7/01/22 @ 100, 5.000% due 7/1/23(c)(d)   367,732 
 90,000   A1(a)  Series B, 5.000% due 7/1/28   115,112 
 360,000   A1(a)  Series B, 5.000% due 7/1/29   458,513 
 190,000   A1(a)  Series B, 5.000% due 7/1/30   241,150 
 1,500,000   A1(a)  Series D, 5.000% due 7/1/25   1,770,392 
 2,005,000   A1(a)  Series D, 5.000% due 7/1/26   2,438,542 
        City of Houston TX Combined Utility System Revenue, Revenue Bonds:     
 250,000   Aa2(a)  Series B, 4.000% due 11/15/21   254,443 
 70,000   Aa2(a)  Series B, 5.000% due 11/15/33   85,539 
 75,000   AA  Series C, 5.000% due 5/15/28   84,840 
 355,000   Aa2(a)  Series C, 5.000% due 11/15/30   479,793 
 1,040,000   AAA  City of Irving TX, GO, 5.500% due 8/15/23   1,161,397 
        City of San Antonio TX Airport System, Revenue Bonds:     
 500,000   A-  Series A, 5.000% due 7/1/27(c)   619,345 
 480,000   A  Series A, 5.000% due 7/1/28(c)   607,910 
        City of San Antonio TX Electric & Gas Systems Revenue, Revenue Bonds:     
 1,000,000   A+  1.750% due 2/1/49(b)   1,047,659 
 45,000   AA-  5.000% due 2/1/29   56,253 
 30,000   AA-  5.000% due 2/1/30   37,474 
 45,000   AA-  5.000% due 2/1/31   56,126 
 35,000   AA-  5.000% due 2/1/33   43,446 
 90,000   AA-  5.250% due 2/1/25   105,870 
 1,500,000   A+  Series 2019, 2.750% due 2/1/48(b)   1,554,629 
 205,000   A+  Series B, 2.000% due 2/1/33(b)   205,257 
        Comal Independent School District, GO, PSF-GTD:     
 3,000,000   Aaa(a)  5.000% due 2/1/27   3,718,487 
 2,000,000   Aaa(a)  5.000% due 2/1/28   2,542,465 

 

See Notes to Financial Statements.

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount
  Rating††  Security  Value 
MUNICIPAL BONDS - (continued)     
Texas - 12.3% - (continued)        
        County of Harris TX, Revenue Bonds:     
$30,000   AA-  Series C, 5.000% due 8/15/24  $31,676 
 110,000   AA-  Series C, 5.000% due 8/15/25   116,103 
        County of Travis TX, GO:     
 85,000   AAA  Series A, 5.000% due 3/1/24   95,660 
 1,490,000   AAA  Series A, 5.000% due 3/1/38   1,896,721 
 2,215,000   AAA  County of Williamson TX, GO, 5.000% due 2/15/30   2,739,736 
        Cypress-Fairbanks Independent School District, GO, PSF-GTD:     
 1,975,000   AAA  4.000% due 2/15/32   2,253,877 
 145,000   AAA  5.000% due 2/15/22   149,976 
 145,000   AAA  5.000% due 2/15/23   156,973 
 725,000   AAA  5.000% due 2/15/24   817,690 
 620,000   AAA  5.000% due 2/15/25   725,392 
 105,000   AAA  5.000% due 2/15/27   126,366 
 210,000   AA+  Dallas Area Rapid Transit, Revenue Bonds, AMBAC-Insured, 5.250% due 12/1/29   281,821 
 185,000   A2(a)  Dallas County Utility & Reclamation District, GO, 5.000% due 2/15/24   206,998 
        Dallas Fort Worth International Airport, Revenue Bonds:     
 2,590,000   A  Series A, 5.000% due 11/1/29(c)   2,759,290 
 85,000   A  Series B, 5.000% due 11/1/26(c)   90,681 
 35,000   A  Series B, 5.000% due 11/1/27(c)   37,324 
 80,000   A  Series B, 5.000% due 11/1/28(c)   85,217 
 155,000   A  Series B, 5.000% due 11/1/30(c)   164,903 
 330,000   A  Series B, 5.000% due 11/1/31(c)   350,794 
 420,000   A  Series B, 5.000% due 11/1/32(c)   446,156 
 290,000   A  Series B, 5.000% due 11/1/33(c)   307,890 
 70,000   A  Series B, 5.000% due 11/1/34(c)   74,277 
 1,500,000   A  Series E, 5.000% due 11/1/22(c)   1,600,698 
        Dallas Independent School District, GO, PSF-GTD:     
 20,000   Aaa(a)  Series Prerefunded 2/15/22 @ 100, 5.000% due 2/15/36(d)   20,684 
 85,000   Aaa(a)  Series Prerefunded 2/15/22 @100, 5.000% due 2/15/36(b)(d)   87,926 
 155,000   AAA  Fort Bend Independent School District, GO, Series D, PSF-GTD-Insured, 1.500% due 8/1/42(b)   155,355 
        Fort Worth Independent School District, GO, PSF-GTD:     
 80,000   AAA  5.000% due 2/15/22   82,774 
 105,000   AAA  5.000% due 2/15/26   126,855 
        Grand Parkway Transportation Corp., Revenue Bonds:     
 150,000   AA+  Series A, 5.000% due 10/1/31   189,019 
 125,000   AA+  Series A, 5.000% due 10/1/32   157,420 
 190,000   AA+  Series A, 5.000% due 10/1/33   238,961 
 145,000   AA+  Series A, 5.000% due 10/1/34   181,995 
 70,000   BBB  Series A, 5.125% due 10/1/43   74,413 
 940,000   WR(a)  Gregg County Health Facilities Development Corp., Revenue Bonds, Series C, Prerefunded 7/1/22 @ 100, 5.000% due 7/1/42(d)   988,676 
        Harris County Cultural Education Facilities Finance Corp., Revenue Bonds:     
 1,025,000   A+  5.000% due 6/1/24   1,164,954 
 590,000   A+  5.000% due 7/1/49(b)   657,613 
        Irving Hospital Authority, Revenue Bonds:     
 15,000   A+  5.000% due 10/15/24   17,182 
 20,000   A+  5.000% due 10/15/26   24,052 
 15,000   A+  5.000% due 10/15/27   17,901 
 20,000   A+  5.000% due 10/15/29   23,613 
 30,000   A+  5.000% due 10/15/31   35,347 
 40,000   A+  5.000% due 10/15/35   47,057 
 30,000   A+  5.000% due 10/15/36   35,296 
 35,000   A+  5.000% due 10/15/39   41,105 

 

See Notes to Financial Statements.

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount
  Rating††  Security  Value 
MUNICIPAL BONDS - (continued)     
Texas - 12.3% - (continued)        
$45,000   A+  5.000% due 10/15/44  $52,839 
        Lamar Consolidated Independent School District, GO:     
 7,280,000   AAA  PSF-GTD, 5.000% due 2/15/31   8,924,659 
 7,050,000   AAA  PSF-GTD, 5.000% due 2/15/34   8,608,515 
 1,225,000   AA+  Lewisville Independent School District, GO, Series B, 5.000% due 8/15/28   1,449,385 
        Love Field Airport Modernization Corp., Revenue Bonds:     
 40,000   A-  5.000% due 11/1/30(c)   46,904 
 90,000   A-  5.000% due 11/1/31(c)   105,278 
        Lower Colorado River Authority, Revenue Bonds:     
 200,000   A  5.000% due 5/15/26   241,896 
 135,000   A  5.000% due 5/15/32   169,242 
 70,000   A  5.000% due 5/15/34   87,525 
 70,000   A  5.000% due 5/15/36   86,949 
 195,000   A  Series B, 5.000% due 5/15/25   228,929 
 85,000   A  Series B, 5.000% due 5/15/27   99,317 
 85,000   A  Series B, 5.000% due 5/15/28   99,136 
 245,000   A  Series B, 5.000% due 5/15/29   285,744 
 25,000   A  Series D, 5.000% due 5/15/22   26,146 
 20,000   A  Series D, 5.000% due 5/15/23   21,832 
 35,000   A  Series D, 5.000% due 5/15/24   39,747 
 40,000   A  Series D, 5.000% due 5/15/26   46,840 
        New Hope Cultural Education Facilities Finance Corp., Revenue Bonds:     
 60,000   Aa3(a)  Series A, 5.000% due 8/15/24   68,654 
 45,000   Aa3(a)  Series A, 5.000% due 8/15/26   54,898 
 45,000   Aa3(a)  Series A, 5.000% due 8/15/27   56,398 
 70,000   Aa3(a)  Series A, 5.000% due 8/15/30   86,216 
        Newark Higher Education Finance Corp., Revenue Bonds:     
 65,000   A3(a)  5.000% due 4/1/27   77,057 
 40,000   A3(a)  5.000% due 4/1/28   47,214 
 125,000   AAA  North East Independent School District, GO, Series B, PSF-GTD-Insured, 1.420% due 8/1/40(b)   125,270 
        North Harris County Regional Water Authority, Revenue Bonds:     
 30,000   AA-  4.000% due 12/15/23   31,721 
 55,000   AA-  4.000% due 12/15/24   58,120 
        North Texas Tollway Authority, Revenue Bonds:     
 50,000   A+  Series A, 5.000% due 1/1/23(f)   53,804 
 145,000   A+  Series A, 5.000% due 1/1/24(f)   162,716 
 35,000   A+  Series A, 5.000% due 1/1/30   41,469 
 40,000   A+  Series A, 5.000% due 1/1/33   48,553 
 200,000   A+  Series A, 5.000% due 1/1/39   234,807 
 30,000   WD(e)  Series A, Prerefunded 9/1/21 @ 100, 6.000% due 9/1/41(d)   30,434 
 185,000   A  Series B, 5.000% due 1/1/25   215,463 
 290,000   A+  Series B, 5.000% due 1/1/29   335,618 
 160,000   A+  Series B, 5.000% due 1/1/30   185,418 
 20,000   A  Series B, 5.000% due 1/1/31   23,547 
 85,000   A  Series B, 5.000% due 1/1/32   102,926 
 685,000   Aaa(a)  Northside Independent School District, GO, PSF-GTD-Insured, 2.750% due 8/1/48(b)   719,600 
        Permanent University Fund - University of Texas System, Revenue Bonds:     
 50,000   Aaa(a)  Series B, 5.000% due 7/1/22   52,652 
 50,000   Aaa(a)  Series B, 5.000% due 7/1/29   60,035 
 50,000   AAA  Rockwall Independent School District, GO, PSF-GTD-Insured, zero coupon, due 2/15/25   48,664 
 1,195,000   Aaa(a)  San Antonio Independent School District, GO, Series A, PSF-GTD-Insured, 5.000% due 8/1/28   1,457,582 
        San Antonio Public Facilities Corp., Revenue Bonds:     
 140,000   AA+  5.000% due 9/15/23   148,167 

 

See Notes to Financial Statements.

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount
  Rating††  Security  Value 
MUNICIPAL BONDS - (continued)     
Texas - 12.3% - (continued)        
$215,000   AA+  5.000% due 9/15/24  $227,484 
 270,000   AA+  5.000% due 9/15/25   285,570 
        San Antonio Water System, Revenue Bonds:     
 175,000   NR  5.000% due 5/15/22   183,088 
 2,000,000   AA  Series A, 5.000% due 5/15/36   2,508,386 
 390,000   AA  Series B, 2.000% due 5/1/44(b)   399,291 
        San Jacinto Community College District, GO:     
 450,000   AA  5.000% due 2/15/29   584,855 
 435,000   AA  5.000% due 2/15/30   575,904 
        State of Texas, GO:     
 110,000   AAA  1.850% due 8/1/29(b)   110,089 
 360,000   AAA  4.000% due 8/1/21(c)   362,244 
 3,500,000   AAA  5.000% due 8/1/21   3,528,203 
 2,500,000   AAA  5.000% due 10/1/24   2,838,248 
 150,000   AAA  5.000% due 8/1/26(c)   172,578 
 200,000   AAA  5.500% due 8/1/26(c)   248,325 
 45,000   AAA  Series A, 5.000% due 8/1/21(c)   45,354 
 350,000   AAA  Series B, 5.000% due 8/1/25(c)   386,875 
 40,000   AAA  Series C, 5.000% due 8/1/21(c)   40,315 
        Tarrant County Cultural Education Facilities Finance Corp., Revenue Bonds:     
 165,000   AA  5.000% due 2/15/25   192,450 
 60,000   AA  5.000% due 2/15/34   72,209 
 400,000   A(e)  Series B, 5.000% due 11/15/40   461,538 
 30,000   AA-  Series Prerefunded 8/15/23 @ 100, 5.000% due 8/15/25(d)   33,170 
 45,000   AA-  Series Prerefunded 8/15/23 @ 100, 5.000% due 8/15/26(d)   49,756 
 45,000   AA-  Series Prerefunded 8/15/23 @ 100, 5.000% due 8/15/28(d)   49,756 
 110,000   AA-  Series Prerefunded 8/15/23 @ 100, 5.000% due 8/15/33(d)   121,625 
 155,000   A  Series Prerefunded 9/1/23 @ 100, 5.500% due 9/1/43(d)   173,261 
 165,000   AAA  Texas A&M University, Revenue Bonds, Series C, 5.000% due 5/15/23   180,655 
        Texas Department of Housing & Community Affairs, Revenue Bonds:     
 410,757   Aaa(a)  2.950% due 7/1/36   433,265 
 410,000   AA+  Series A, 4.000% due 3/1/50   464,780 
 600,000   AA+  Texas Public Finance Authority, Revenue Bonds, 5.000% due 2/1/28   761,848 
 135,000   Aa2(a)  Texas State University System, Revenue Bonds, Series A, 5.000% due 3/15/29   166,784 
        Texas Water Development Board, Revenue Bonds:     
 1,000,000   AAA  3.000% due 8/1/21   1,004,795 
 125,000   AAA  Series A, 5.000% due 4/15/22   130,363 
 180,000   AAA  Series A, 5.000% due 4/15/25   212,186 
 75,000   AAA  Series A, 5.000% due 10/15/25   89,932 
 125,000   AAA  Series A, 5.000% due 4/15/26   152,082 
 190,000   AAA  Series A, 5.000% due 4/15/29   241,015 
 505,000   AAA  Series A, 5.000% due 4/15/30   638,357 
 190,000   AA  University of Houston, Revenue Bonds, Series A, 5.000% due 2/15/30   226,576 
 5,000,000   AAA  University of Texas System, Revenue Bonds, Series B, 5.000% due 8/15/49   7,871,027 
        Total Texas   114,750,202 
Utah - 1.3%            
 8,000,000   AA+  County of Utah UT, Revenue Bonds, 0.050% due 5/15/51(b)   8,000,000 
        Salt Lake City Corp. Airport Revenue, Revenue Bonds:     
 35,000   A  Series A, 5.000% due 7/1/26(c)   42,237 
 115,000   A  Series A, 5.000% due 7/1/28(c)   141,534 
 155,000   A  Series A, 5.000% due 7/1/30(c)   193,134 
 375,000   AAA  State of Utah, GO, Series B, 5.000% due 7/1/22   394,977 
 85,000   A-  Utah Associated Municipal Power Systems, Revenue Bonds, Series A, Prerefunded 9/1/22 @ 100, 5.000% due 9/1/24(d)   90,190 

 

See Notes to Financial Statements.

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount
  Rating††  Security  Value 
MUNICIPAL BONDS - (continued)     
Utah - 1.3% - (continued)        
$2,500,000   A+  Utah Transit Authority, Revenue Bonds, Series A, NPFG, 5.000% due 6/15/31  $3,177,914 
        Total Utah   12,039,986 
Vermont - 0.2%           
        Vermont Student Assistance Corp., Revenue Bonds:     
 750,000   A  Series A, 5.000% due 6/15/29(c)   929,189 
 675,000   A  Series A, 5.000% due 6/15/30(c)   845,256 
        Total Vermont   1,774,445 
Virginia - 2.4%           
 195,000   A+  Arlington County Industrial Development Authority, Revenue Bonds, 5.000% due 7/1/32   257,124 
 315,000   AAA  City of Chesapeake VA, GO, Series A, 5.000% due 8/1/34   421,581 
 30,000   BBB+  City of Chesapeake VA Chesapeake Expressway Toll Road Revenue, Revenue Bonds, Series A, 5.000% due 7/15/22   30,876 
 2,635,000   AAA  City of Suffolk VA, GO, Series A, 5.000% due 2/1/27   3,285,997 
 5,000,000   AAA  Commonwealth of Virginia, GO, Series B, 4.000% due 6/1/24   5,381,493 
        Fredericksburg Economic Development Authority, Revenue Bonds:     
 40,000   A3(a)  5.000% due 6/15/27   45,188 
 40,000   A3(a)  5.000% due 6/15/29   44,866 
 45,000   A3(a)  5.000% due 6/15/33   50,073 
 3,180,000   AA  Hampton Roads Transportation Accountability Commission, Revenue Bonds, Series A, 5.000% due 7/1/35   3,954,062 
 1,065,000   A-  King George County Economic Development Authority, Revenue Bonds, 2.500% due 6/1/23(b)(c)   1,111,402 
 320,000   AA  Norfolk Economic Development Authority, Revenue Bonds, Series B, 5.000% due 11/1/48(b)   410,714 
        Stafford County Economic Development Authority, Revenue Bonds:     
 20,000   A3(a)  4.000% due 6/15/37   22,310 
 50,000   A3(a)  5.000% due 6/15/32   59,066 
 65,000   A3(a)  5.000% due 6/15/34   76,499 
        Virginia College Building Authority, Revenue Bonds:     
 1,670,000   AA+  5.000% due 2/1/25   1,950,633 
 2,805,000   AA+  Series A, 5.000% due 9/1/32   3,585,025 
 165,000   AA+  Series D, 5.000% due 2/1/26   199,272 
 265,000   AA+  Series E, 5.000% due 2/1/30   335,048 
 305,000   AA+  Series E, 5.000% due 2/1/31   383,879 
 360,000   AA+  Virginia Commonwealth Transportation Board, Revenue Bonds, Series A, 5.000% due 5/15/30   453,723 
 220,000   BBB-  Virginia Small Business Financing Authority, Revenue Bonds, 5.000% due 1/1/40(c)   225,757 
        Winchester Economic Development Authority, Revenue Bonds:     
 60,000   A+  5.000% due 1/1/32   69,829 
 75,000   A+  5.000% due 1/1/33   87,318 
 100,000   BBB+  York County Economic Development Authority, Revenue Bonds, Series A, 1.900% due 5/1/33(b)   102,587 
        Total Virginia   22,544,322 
Washington - 3.1%         
 60,000   AA  Chelan County Public Utility District No 1, Revenue Bonds, Series A, NPFG, zero coupon, due 6/1/24   58,912 
        City of Tacoma WA Electric System Revenue, Revenue Bonds:     
 30,000   AA  5.000% due 1/1/29   36,900 
 35,000   AA  5.000% due 1/1/36   42,438 
 3,330,000   AA+  County of King WA Sewer Revenue, Revenue Bonds, Series A, 5.000% due 7/1/22   3,505,903 
        Grant County Public Utility District No 2 Priest Rapids Hydroelectric Project, Revenue Bonds:     
 30,000   AA  Series A, 5.000% due 1/1/22   30,858 
 30,000   AA  Series A, Prerefunded 7/1/22 @ 100, 5.000% due 1/1/23(d)   31,587 
 65,000   AA  Series A, Prerefunded 7/1/22 @ 100, 5.000% due 1/1/24(d)   68,439 

 

See Notes to Financial Statements.

 

 

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

  

Face
Amount
    Rating††  Security  Value 
MUNICIPAL BONDS - (continued)     
Washington - 3.1% - (continued)        
        Port of Seattle WA, Revenue Bonds:     
$25,000   A-  5.000% due 6/1/23(c)   $27,136 
 35,000   A+  5.000% due 2/1/27    41,947 
 70,000   A+  5.000% due 2/1/29    83,752 
 85,000   A+  Series A, 5.000% due 5/1/29(c)    103,010 
 1,000,000   AA-  Series B, 5.000% due 10/1/26(c)    1,195,081 
 980,000   AA-  Series B, 5.000% due 10/1/27(c)    1,167,593 
 135,000   AA-  Series B, 5.000% due 10/1/29(c)    160,209 
        State of Washington, GO:     
 50,000   AA+  Series 2017A, 5.000% due 8/1/27    61,300 
 3,430,000   AA+  Series A, 5.000% due 8/1/32    4,376,905 
 5,000,000   AA+  Series C, 5.000% due 2/1/33    6,463,889 
 50,000   AA+  Series R2017A, 5.000% due 8/1/28    61,272 
 50,000   AA+  Series R2017A, 5.000% due 8/1/30    61,044 
 355,000   AA+  Series R2018C, 5.000% due 8/1/30    443,515 
 725,000   AA+  Series R2018D, 5.000% due 8/1/32    904,948 
 640,000   AA+  Series R2018D, 5.000% due 8/1/33    798,730 
 5,000,000   AA+  Series R2018D, 5.000% due 8/1/35    6,236,047 
        Tobacco Settlement Authority, Revenue Bonds:     
 70,000   A  5.000% due 6/1/23    76,844 
 100,000   A  5.000% due 6/1/24    109,683 
        Washington Health Care Facilities Authority, Revenue Bonds:     
 60,000   A  5.000% due 7/1/26    72,373 
 70,000   AA-  5.000% due 10/1/27    88,159 
 60,000   AA-  5.000% due 10/1/28    77,363 
 40,000   A+  5.000% due 1/1/29    46,401 
 90,000   A  5.000% due 7/1/29    111,457 
 20,000   A  5.000% due 7/1/34    24,363 
 780,000   A  5.000% due 7/1/42    936,152 
 115,000   AA-  Series A, 5.000% due 10/1/24    122,543 
 440,000   BBB+  Series A2, 5.000% due 8/1/39    549,409 
        Washington Higher Education Facilities Authority, Revenue Bonds:     
 15,000   Baa1(a)  Series A, 5.000% due 10/1/29    17,801 
 35,000   Baa1(a)  Series A, 5.000% due 10/1/30    41,310 
 40,000   Baa1(a)  Series A, 5.000% due 10/1/31    47,069 
 210,000   Baa1(a)  Series A, 5.000% due 10/1/33    246,144 
        Total Washington    28,528,486 
West Virginia - 1.6%        
        State of West Virginia, GO:     
 9,860,000   AA-  Series B, 5.000% due 12/1/34    12,508,011 
 2,000,000   AA-  Series B, 5.000% due 6/1/35    2,530,757 
 190,000   BBB+  West Virginia Hospital Finance Authority, Revenue Bonds, 5.000% due 1/1/33    235,710 
        Total West Virginia    15,274,478 
Wisconsin - 0.3%        
 160,000   A  Public Finance Authority, Revenue Bonds, 5.000% due 1/1/31    206,925 
        Wisconsin Health & Educational Facilities Authority, Revenue Bonds:     
 400,000   A2(a)  5.000% due 10/1/23    441,448 
 255,000   A+  5.000% due 11/15/24    294,607 
 25,000   BBB+  5.000% due 5/1/26    27,745 
 50,000   A3(a)  5.000% due 6/1/27    52,213 
 195,000   A+  5.000% due 11/15/27    221,189 
 50,000   BBB+  5.000% due 5/1/28    55,000 
 25,000   BBB+  5.000% due 5/1/29    27,410 
 30,000   A3(a)  5.000% due 6/1/32    31,306 
 70,000   A3(a)  5.000% due 6/1/39    72,998 

 

See Notes to Financial Statements.

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

  

Face
Amount
    Rating††  Security  Value 
MUNICIPAL BONDS - (continued)     
Wisconsin - 0.3% - (continued)        
$1,505,000   AA  5.000% due 8/15/54(b)   $1,659,499 
 30,000   WR(a)  Series B, Prerefunded 7/1/23 @ 100, 5.000% due 7/1/25(d)    32,995 
 200,000   WR(a)  Series B, Prerefunded 7/1/23 @ 100, 5.000% due 7/1/36(d)    219,966 
 50,000   NR  Series C, Prerefunded 8/15/22 @ 100, 5.000% due 8/15/32(d)    52,913 
 520,000   AA  Wisconsin Housing & Economic Development Authority, Revenue Bonds, Series A, 3.500% due 9/1/50    575,606 
        Total Wisconsin    3,971,820 
        TOTAL MUNICIPAL BONDS     
        (Cost - $774,523,046)    815,674,481 
        TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS     
        (Cost - $774,523,046)    815,674,481 
SHORT-TERM INVESTMENTS - 16.4%  
MUNICIPAL BONDS - 6.2%        
 4,000,000   MIG1(a)  Charleston County School District, GO 4.000% due 5/11/22    4,147,225 
 5,000,000   SP-1+  City of Los Angeles CA, Revenue Notes 4.000% due 6/24/21    5,011,613 
 5,000,000   SP-1+  County of Ventura CA, Revenue Notes 4.000% due 6/30/21    5,015,565 
 5,750,000   AA  Georgia State Road & Tollway Authority, Revenue Bonds 5.000% due 6/1/21    5,750,000 
 10,000,000   MIG1(a)  School District of Broward County, Revenue Notes 2.000% due 6/30/21    10,013,691 
 15,000,000   SP-1+  State of Colorado, Revenue Notes 4.000% due 6/25/21    15,037,761 
 12,500,000   SP-1+  State of Texas, Revenue Notes 4.000% due 8/26/21    12,615,948 
        TOTAL MUNICIPAL BONDS     
        (Cost - $57,587,049)    57,591,803 
TIME DEPOSITS - 10.2%        
 17,673,481      ANZ National Bank - London, 0.005% due 6/1/21    17,673,481 
 8,818,772      DnB NORBank ASA - Oslo, 0.005% due 6/1/21    8,818,772 
 68,081,524      Skandinaviska Enskilda Banken AB - Stockholm, 0.005% due 6/1/21    68,081,524 
        TOTAL TIME DEPOSITS     
        (Cost - $94,573,777)    94,573,777 
        TOTAL SHORT-TERM INVESTMENTS     
        (Cost - $152,160,826)    152,165,580 
        TOTAL INVESTMENTS - 104.0%     
        (Cost - $926,683,872)    967,840,061 
        Liabilities in Excess of Other Assets - (4.0)%    (37,123,616)
        TOTAL NET ASSETS - 100.0%   $930,716,445 

 

 

#May 28, 2021 represents the last business day of the Fund’s fiscal first quarter.
†† All ratings are by Standard & Poor's Rating Service, unless otherwise noted.
(a)Rating by Moody's Investors Service.
(b)Variable rate security. Interest rate disclosed is that which was in effect at May 28, 2021.
(c)Income from this issue is considered a preference item for purposes of calculating the alternative minimum tax (AMT).
(d)Pre-refunded bonds are escrowed with government obligations and/or government agency securities and are considered by the Manager to be triple-A rated even if the issuer has not applied for new ratings.
(e)Rating by Fitch Ratings Service.
(f)Illiquid security. The aggregate value of illiquid holdings at May 28, 2021, amounts to $426,568 and represents 0.05% of net assets.
(g)Restricted security that may be sold to “qualified institutional buyers” pursuant to the conditions of Rule 144A under the Securities Act of 1933, as amended. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees, unless otherwise noted. The aggregate value of restricted 144A holdings at May 28, 2021, amounts to approximately $162,130 and represents 0.02% of net assets.
(h)All or a portion of this security is pledged by the Fund as collateral for buy trades with long settlements.

 

See Notes to Financial Statements.

 

 

 

Schedules of Investments

May 28, 2021# (unaudited)

 

Destinations Municipal Fixed Income Fund (concluded)

  

Abbreviations used in this schedule:
AGM Assured Guaranty Municipal Corporation
AMBAC American Bond Assurance Corporation
COP Certificate of Participation
GO General Obligation
LIBOR London Interbank Offered Rate
LLC Limited Liability Company
MTA Metropolitan Transportation Authority
NPFG National Public Finance Guarantee Corporation
PSF-GTD Permanent School Fund Guaranteed
 

Summary of Investments by Security Industry^
General Obligation    39.8%
Education    15.6 
Health Care Providers & Services    7.3 
Transportation    7.0 
Water and Sewer    6.0 
Airport    3.5 
Power    1.5 
Development    1.2 
Single Family Housing    0.9 
Utilities    0.6 
Student Loan    0.4 
Pollution    0.2 
Multifamily Housing    0.1 
Nursing Homes    0.1 
Tobacco Settlement    0.1 
Bond Bank    0.0*
Facilities    0.0*
Short-Term Investments    15.7 
    100.0%

 

 

^As a percentage of total investments.
*Position represents less than 0.05%.

 

See Notes to Financial Statements.

 

 

 

Ratings (unaudited)

 

The definitions of the applicable rating symbols are set forth below:

 

Standard & Poor’s Ratings Service (“Standard & Poor’s”) — Ratings from “AA” to “CCC” may be modified by the addition of a plus (+) or minus (-) sign to show relative standings within the major rating categories.

 

AAA — Bonds rated “AAA” have the highest rating assigned by Standard & Poor’s. Capacity to pay interest and repay principal is extremely strong.

 

AA — Bonds rated “AA” have a very strong capacity to pay interest and repay principal and differ from the highest rated issues only in a small degree.

 

A — Bonds rated “A” have a strong capacity to pay interest and repay principal although they are somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than debt in higher rated categories.

 

BBB — Bonds rated “BBB” are regarded as having an adequate capacity to pay interest and repay principal. Whereas they normally exhibit adequate protection parameters, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity to pay interest and repay principal for bonds in this category than in higher rated categories.

 

BB, B, CCC, CC and C — Bonds rated “BB”, “B”, “CCC”, “CC” and “C” are regarded, on balance, as predominantly speculative with respect to capacity to pay interest and repay principal in accordance with the terms of the obligation. “BB” represents the lowest degree of speculation and “C” the highest degree of speculation. While such bonds will likely have some quality and protective characteristics, these are outweighed by large uncertainties or major risk exposures to adverse conditions.

 

D — Bonds rated “D” are in default and payment of interest and/or repayment of principal is in arrears.

 

P — Preliminary rating.

 

u — The upgrade state defines bonds that have recently been upgraded into higher rating categories.

 

Moody’s Investors Service (“Moody’s”) — Numerical modifiers 1, 2 and 3 may be applied to each generic rating from “Aa” to “Caa,” where 1 is the highest and 3 the lowest ranking within its generic category.

 

Aaa — Bonds rated “Aaa” are judged to be of the best quality. They carry the smallest degree of investment risk and are generally referred to as “gilt edge.” Interest payments are protected by a large or by an exceptionally stable margin and principal is secure. While the various protective elements are likely to change, such changes as can be visualized are most unlikely to impair the fundamentally strong position of such issues.

 

Aa — Bonds rated “Aa” are judged to be of high quality by all standards. Together with the “Aaa” group they comprise what are generally known as high grade bonds. They are rated lower than the best bonds because margins of protection may not be as large as in “Aaa” securities or fluctuation of protective elements may be of greater amplitude or there may be other elements present which make the long-term risks appear somewhat larger than in “Aaa” securities.

 

A — Bonds rated “A” possess many favorable investment attributes and are to be considered as upper medium grade obligations. Factors giving security to principal and interest are considered adequate but elements may be present which suggest a susceptibility to impairment some time in the future.

 

 

 

Ratings (unaudited) (continued)

 

Baa — Bonds rated “Baa” are considered as medium grade obligations, i.e., they are neither highly protected nor poorly secured. Interest payments and principal security appear adequate for the present but certain protective elements may be lacking or may be characteristically unreliable over any great length of time. Such bonds lack outstanding investment characteristics and in fact have speculative characteristics as well.

 

Ba — Bonds rated “Ba” are judged to have speculative elements; their future cannot be considered as well assured. Often the protection of interest and principal payments may be very moderate and therefore not well safeguarded during both good and bad times over the future. Uncertainty of position characterizes bonds in this class.

 

B — Bonds rated “B” generally lack characteristics of desirable investments. Assurance of interest and principal payments or of maintenance of other terms of the contract over any long period of time may be small.

 

Caa — Bonds rated “Caa” are of poor standing. These may be in default, or present elements of danger may exist with respect to principal or interest.

 

Ca — Bonds rated “Ca” represent obligations which are speculative in a high degree. Such issues are often in default or have other marked short-comings.

 

C — Bonds rated “C” are the lowest class of bonds and issues so rated can be regarded as having extremely poor prospects of ever attaining any real investment standing.

 

e — Expected.

 

u — Upgraded.

 

Fitch Ratings Service (“Fitch”) — Ratings from “AA” to “CCC” may be modified by the addition of a plus (+) or minus (-) sign to show relative standings within the major rating categories.

 

AAA — Bonds rated “AAA” have the highest rating assigned by Fitch. Capacity to pay interest and repay principal is extremely strong.

 

AAApre — Stable Outlook rating is based on the pledge of securities in the escrow deposit fund securing the bonds and reflects the lien of the refunded bondholders on the escrow trust funds and that all amounts have been invested in direct non-callable obligations of the United States.

 

AA — Bonds rated “AA” have a very strong capacity to pay interest and repay principal and differ from the highest rated issues only in a small degree.

 

A — Bonds rated “A” have a strong capacity to pay interest and repay principal although they are somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than debt in higher rated categories.

 

BBB — Bonds rated “BBB” are regarded as having an adequate capacity to pay interest and repay principal. Whereas they normally exhibit adequate protection parameters, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity to pay interest and repay principal for bonds in this category than in higher rated categories.

 

BB, B, CCC, CC and C — Bonds rated “BB”, “B”, “CCC”, “CC” and “C” are regarded, on balance, as predominantly speculative with respect to capacity to pay interest and repay principal in accordance with the terms of the obligation. “BB” represents a lower degree of speculation than “B”, and “CC” the highest degree of speculation. While such bonds will likely have some quality and protective characteristics, these are outweighed by large uncertainties or major risk exposures to adverse conditions.

 

 

 

Ratings (unaudited) (concluded)

 

D — Bonds rated “D” are in default and payment of interest and/or repayment of principal is in arrears.

 

NR — Indicates that the bond is not rated by Standard & Poor’s, Moody’s, or Fitch.

 

WD, WR — Indicates that the bonds rating has been withdrawn and the issuer is no longer rated by Standard & Poor’s, Moody’s or Fitch.

 

Short-Term Security Ratings

 

SP-1 — Standard & Poor’s highest rating indicating very strong or strong capacity to pay principal and interest; those issues determined to possess overwhelming safety characteristics are denoted with a plus (+) sign.

 

A-1 — Standard & Poor’s highest commercial paper and variable-rate demand obligation (VRDO) rating indicating that the degree of safety regarding timely payment is either overwhelming or very strong; those issues

determined to possess overwhelming safety characteristics are denoted with a plus (+) sign.

 

VMIG 1 — Moody’s highest rating for issues having a demand feature — VRDO.

 

MIG1 — Moody’s highest rating for short-term municipal obligations.

 

P-1 — Moody’s highest rating for commercial paper and for VRDO prior to the advent of the VMIG 1 rating.

 

F-1 — Fitch’s highest rating indicating the strongest capacity for timely payment of financial commitments; those issues determined to possess overwhelming strong credit feature are denoted with a plus (+) sign.

 

F-2 — Fitch’s rating indicating a good capacity for timely payment of financial commitments.

 

 

 

 

Notes to Financial Statements

May 28, 2021 (unaudited)

 

1. Organization

 

Brinker Capital Destinations Trust (“Trust”) is organized as a Delaware statutory trust and registered under the Investment Company Act of 1940, as amended (“1940 Act”), as an open-end management investment company. The Trust currently consists of Destinations Large Cap Equity Fund, Destinations Small-Mid Cap Equity Fund, Destinations International Equity Fund, Destinations Equity Income Fund, Destinations Core Fixed Income Fund, Destinations Low Duration Fixed Income Fund, Destinations Global Fixed Income Opportunities Fund, Destinations Municipal Fixed Income Fund and Destinations Multi Strategy Alternatives Fund (individually, a “Fund” and collectively, the “Funds”). Each Fund currently offers two classes of shares designated as Class I and Class Z shares. Class Z commenced operations on July 16, 2018.

 

Brinker Capital Investments, LLC (“Brinker Capital” or the “Adviser”), serves as the investment adviser for the Funds. The Funds employ a multimanager strategy. The Adviser selects and oversees professional money managers (each a “Sub-adviser”) who are responsible for investing the assets of the Funds allocated to them.

 

2. Investment valuation

 

Equity securities for each Fund for which market quotations are readily available and are traded on an exchange are valued at the closing sale price or official closing price on the exchange on which such security is principally traded. In the event there are no sales that day, such securities are valued at the bid price. For equity securities that are primarily traded on foreign exchanges, these values are converted to U.S. dollars using the current exchange rates as of the close of the New York Stock Exchange (“NYSE”).

 

Futures contracts are valued at the settlement price in the market where such contracts are principally traded. Foreign currency forward contracts are valued at the current Business Day’s interpolated foreign exchange rate, as calculated using the current day’s spot rate, and the thirty, sixty, ninety and one-hundred eighty day forward rates provided by an independent source.

 

Portfolio securities traded in the over-the-counter market for which market quotations are readily available are valued at the last sales price that day. In the event there are no sales that day, such securities are valued at the bid price. Investments in registered open-end management investment companies are valued at reported net asset value per share.

 

Securities pledged by the Funds as collateral, if any, are identified as such in the Schedules of Investments.

 

Debt obligations that will mature in 60 days or less are valued at amortized cost, which approximates market value. Debt obligations that will mature in more than 60 days are valued using valuations furnished by an approved third-party pricing service; such valuations are determined by the third-party pricing service based upon its analysis of a variety of factors, including transactions in debt obligations, quotations from bond dealers, market transactions in comparable securities and its analysis of various relationships between securities, prices or yields of securities with similar characteristics, benchmark curves or information pertaining to the issuer, as well as industry and economic events.

 

The Board of Trustees (the “Board”) has ultimate responsibility for ensuring the Funds’ investments are valued appropriately. The Board has delegated primary responsibility for determining or causing to be determined the value of the Funds’ investments (including any fair valuation) to the Adviser pursuant to valuation policies and procedures approved by the Board. When market quotations are not readily available or are determined to be unreliable, investments are valued at fair value as determined in good faith by the valuation committee established by the Adviser in accordance with such procedures under the oversight of the Board. Circumstances that may indicate that market quotations are not readily available or are unreliable include, but are not limited to, such instances when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, and before the applicable Fund calculates its Net Asset Value (“NAV”).

 

Each business day, the Funds use a Board-approved third-party pricing service to assist with the valuation of foreign equity securities. Events occurring after the close of trading on foreign exchanges may result in adjustments to the valuation of foreign securities to reflect market trading that occurs after the close of the applicable foreign markets of comparable securities or other instruments that have a strong correlation to the fair-valued securities to more accurately reflect their fair value as of the close of regular trading on the NYSE.

 

 

 

The Funds disclose the fair value of their investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. The hierarchy prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities that segregates fair value measurements into levels (Level 1, 2, and 3). The three levels of the fair value hierarchy are as follows:

 

Level 1—unadjusted quoted prices in active markets for identical securities.
  
Level 2—significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

 

Level 3—significant unobservable inputs (including assumptions made by the Board or persons acting at their direction that are used in determining the fair value of investments.)

 

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following are certain inputs and techniques that the Funds generally use to evaluate how to classify each major category of assets and liabilities in accordance with GAAP.

 

Fixed income securities including corporate, convertible and municipal bonds and notes, U.S. government agencies, U.S. treasury obligations, sovereign bonds, bank loans, convertible preferred securities and non-U.S. bonds are normally valued by third-party pricing service providers that use broker quotations, reported trades or valuation estimates from their internal pricing models. The service providers’ internal models use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar assets. Securities that use similar valuation techniques and inputs as described above are categorized as Level 2 of the fair value hierarchy. To the extent that these inputs are significant and unobservable, the values are categorized as Level 3 of the fair value hierarchy.

 

Mortgage-related and asset-backed securities are usually issued as separate tranches, or classes, of securities within each deal. These securities are also normally valued by third-party pricing service providers that use broker-dealer quotations or valuation estimates from their internal pricing models. The pricing models for these securities usually consider tranche-level attributes, current market data, estimated cash flows and market-based yield spreads for each tranche, and incorporate deal collateral performance, as available. Mortgage-related and asset-backed securities and the related forward sales commitments that use similar valuation techniques and inputs as described above are categorized as Level 2 of the fair value hierarchy. To the extent that these inputs are significant and unobservable, the values are categorized as Level 3 of the fair value hierarchy.

 

Common stocks, preferred stocks, rights, warrants, exchange-traded funds and financial derivative instruments, such as futures contracts or options contracts that are traded on a national securities exchange, are categorized as Level 1 of the fair value hierarchy, to the extent these securities are actively traded and valuation adjustments are not applied.

 

Valuation adjustments may be applied to certain securities that are solely traded on a foreign exchange to account for the market movement between the close of the foreign market and the NYSE close. Securities using these valuation adjustments are categorized as Level 2 of the fair value hierarchy. Preferred securities and other equities traded on inactive markets or valued by reference to similar instruments are also categorized as Level 2 of the fair value hierarchy.

 

Investments in registered open-end investment management companies are valued based upon the NAVs of such investments on the valuation date and are categorized as Level 1 of the fair value hierarchy.

 

Short-term investments having a maturity of 60 days or less are generally valued at amortized cost which approximates fair market value. These investments are categorized as Level 2 of the fair value hierarchy.

 

Over-the-counter financial derivative instruments, such as forward foreign currency contracts, derive their value from underlying asset prices, indices, reference rates, and other inputs or a combination of these factors. These contracts are normally valued on the basis of broker dealer quotations or by third-party pricing service providers. Depending on the product and the terms of the transaction, the value of financial derivatives can be estimated by a third-party pricing service provider using a series of techniques, including simulation pricing models. The pricing models use inputs that are observed from actively quoted markets such as issuer details, indices, spreads, interest rates, yield curves, dividends and exchange rates. Financial derivatives that use similar valuation techniques and inputs as described above are categorized as Level 2 of the fair value hierarchy. To the extent that these inputs are significant and unobservable, the values are categorized as Level 3 of the fair value hierarchy.

 

 

 

Centrally cleared swaps listed or traded on the multilateral or trade facility platform, such as a registered exchange, are valued at the daily settlement price determined by the respective exchange. For centrally cleared credit default swaps, the clearing facility requires its members to provide actionable levels across complete term structures. These levels along with external third party prices are used to produce daily settlement prices. Centrally cleared interest rate swaps are valued using a pricing model that references the underlying rates including the overnight index swap rate and London Interbank Offered Rate (“LIBOR”) forward rate to produce the daily settlement price. These securities are categorized as Level 2 of the fair value hierarchy.

 

In some instances, the inputs used to measure fair value might fall in different levels of the fair value hierarchy. The level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

 

The following table summarizes the valuation of each Fund’s assets and liabilities using the fair value hierarchy:

 

   Total Fair Value at
May 28, 2021
   Unadjusted Quoted
Prices
in Active Markets
for Identical
Investments
(Level 1)
   Significant
Observable
Inputs
(Level 2)
   Significant
Unobservable
Inputs
(Level 3)
 
Destinations Large Cap Equity Fund                    
Investments, at value                    
Common Stocks:                    
Basic Materials  $136,183,143   $136,183,143   $   $ 
Communications   955,224,765    955,224,765         
Consumer Cyclical   321,893,175    321,893,175         
Consumer Non-cyclical   1,188,865,715    1,188,865,715         
Energy   155,503,779    155,503,779         
Financial   678,973,934    672,148,328        6,825,606 
Industrial   426,877,001    425,766,812        1,110,189 
Technology   934,951,138    924,096,725    6,524,706    4,329,707 
Utilities   83,609,233    83,609,233         
Preferred Stocks   32,940,773            32,940,773 
Exchange Traded Fund (ETF)   2,669,602    2,669,602         
Short-Term Investments:                    
Time Deposits   54,287,942        54,287,942     
Money Market Fund   7,368,489    7,368,489         
Total Investments, at value  $4,979,348,689   $4,873,329,766   $60,812,648   $45,206,275 
Other Financial Instruments - Assets                    
Futures Contracts  $212,024   $212,024   $   $ 
Total Other Financial Instruments - Assets  $212,024   $212,024   $   $ 

 

 

 

   Total Fair Value at
May 28, 2021
   Unadjusted Quoted
Prices
in Active Markets
for Identical
Investments
(Level 1)
   Significant
Observable
Inputs
(Level 2)
   Significant
Unobservable
Inputs
(Level 3)
 
Destinations Small-Mid Cap Equity Fund                    
Investments, at value                    
Common Stocks  $1,234,274,835   $1,234,274,835   $   $ 
Exchange Traded Funds (ETFs)   50,222,169    50,222,169         
Short-Term Investments:                    
Time Deposits   26,366,048        26,366,048     
Money Market Fund   40,509,138    40,509,138                      – 
Total Investments, at value  $1,351,372,190   $1,325,006,142   $26,366,048   $ 

 

   Total Fair Value at
May 28, 2021
   Unadjusted Quoted
Prices
in Active Markets
for Identical
Investments
(Level 1)
   Significant
Observable
Inputs
(Level 2)
   Significant
Unobservable
Inputs
(Level 3)
 
Destinations Equity Income Fund                    
Investments, at value                    
Common Stocks  $387,806,104   $387,806,104   $   $ 
Convertible Preferred Stocks   4,921,778    4,921,778         
Exchange Traded Funds (ETFs)   37,831,764    37,831,764         
Short-Term Investments:                    
Corporate Note   847,637        847,637     
Time Deposits   2,539,398        2,539,398     
Money Market Fund   2,094,168    2,094,168                  – 
Total Investments, at value  $436,040,849   $432,653,814   $3,387,035   $ 

 

 

 

 

   Total Fair Value at
May 28, 2021
   Unadjusted Quoted
Prices
in Active Markets
for Identical
Investments
(Level 1)
   Significant
Observable
Inputs
(Level 2)
   Significant
Unobservable
Inputs
(Level 3)
 
Destinations International Equity Fund                    
Investments, at value                    
Common Stocks:                    
Australia  $13,521,673   $   $13,521,673   $ 
Austria   6,364,273        6,364,273     
Bermuda   5,131,435    3,099,943    2,031,492     
Brazil   62,329,059    27,903,825    34,425,234     
Canada   70,097,521    9,062,534    61,034,987     
China   254,733,014    64,903,055    189,829,959     
Cyprus   7,971,308    3,963,692    4,007,616     
Denmark   20,233,999        20,233,999     
Egypt   16,959,222        16,959,222     
Finland   10,817,021        10,817,021     
France   185,216,757        185,216,757     
Germany   151,261,321        151,261,321     
Greece   5,111,896        5,111,896     
Hong Kong   41,593,542    1,782,188    39,811,354     
Hungary   5,913,011        5,913,011     
India   219,832,659    1,576,278    217,826,904    429,477 
Indonesia   19,513,063        19,513,063     
Ireland   18,281,336    5,541,188    12,740,148     
Israel   13,642,623    4,005,222    9,637,401     
Italy   19,020,597        19,020,597     
Japan   375,881,383        375,881,383     
Jersey, Channel Islands   6,970,726        6,970,726     
Mexico   24,115,030        24,115,030     
Netherlands   76,292,342    7,999,107    68,293,235     
Norway   22,291,457        22,291,457     
Philippines   14,829,529        14,829,529     
Poland   10,879,165        10,879,165     
Portugal   18,144,484        18,144,484     
Russia   40,476,777    23,218,826    14,627,164    2,630,787 
Singapore   4,184,074        4,184,074     
South Africa   21,373,308        21,373,308     
South Korea   104,983,840        104,983,840     
Spain   10,233,689        10,233,689     
Sweden   38,443,601        38,443,601     
Switzerland   154,531,891        154,531,891     
Taiwan   107,667,679    43,732,444    63,935,235     
Thailand   14,140,764        14,140,764     
United Arab Emirates   7,600,374        7,600,374     
United Kingdom   237,648,356    10,559,788    227,084,173    4,395 
United States   76,345,452    76,133,505        211,947 
Exchange Traded Funds (ETFs)   122,538,506    122,538,506         
Warrant   62,164    62,164         
Short-Term Investments:                    
Time Deposits   94,793,177        94,793,177     
Money Market Fund   101,299,111    101,299,111         
Total Investments, at value  $2,833,272,209   $507,381,376   $2,322,614,227   $3,276,606 
Other Financial Instruments - Assets                    
Forward Foreign Currency Contracts  $826,664   $   $826,664   $ 
Total Other Financial Instruments - Assets  $826,664   $   $826,664   $ 
                     
Other Financial Instruments - Liabilites                    
Options Contracts Written  $(18,357)  $(4,082)  $(14,275)  $ 
Total Other Financial Instruments - Liabilities  $(18,357)  $(4,082)  $(14,275)  $ 

 

 

 

   Total Fair Value at
May 28, 2021
   Unadjusted Quoted
Prices
in Active Markets
for Identical
Investments
(Level 1)
   Significant
Observable
Inputs
(Level 2)
   Significant
Unobservable
Inputs
(Level 3)
 
Destinations Core Fixed Income Fund                    
Investments, at value                    
Corporate Bonds & Notes  $583,741,814   $   $583,741,814   $ 
Collateralized Mortgage Obligations   507,465,885        507,465,885     
U.S. Government Agencies & Obligations   487,194,940        487,194,940     
Mortgage-Backed Securities   433,433,705        433,433,705     
Asset-Backed Securities   190,072,166        190,072,166     
Sovereign Bonds   23,732,762        23,732,762     
Senior Loans   23,509,549        23,509,549     
Municipal Bonds   1,080,037        1,080,037     
Exchange Traded Fund (ETF)   29,346,679    29,346,679         
Common Stocks:                    
Communications   47,087    47,087         
Diversified   30,791        30,791     
Energy   175,768    170,776    4,992     
Industrial   1,515    1,515         
Short-Term Investments:                    
Time Deposits   133,463,787        133,463,787     
Total Investments, at value  $2,413,296,485   $29,566,057   $2,383,730,428   $ 
Other Financial Instruments - Assets                    
Futures Contracts  $48,835   $48,835   $   $ 
Total Other Financial Instruments - Assets  $48,835   $48,835   $   $ 
Other Financial Instruments - Liabilities                    
Forward Sale Commitments  $(9,151,669)  $   $(9,151,669)  $ 
Futures Contracts   (33,057)   (33,057)        
Total Other Financial Instruments - Liabilities  $(9,184,726)  $(33,057)  $(9,151,669)  $                     – 

 

 

 

   Total Fair Value at
May 28, 2021
   Unadjusted Quoted
Prices
in Active Markets
for Identical
Investments
(Level 1)
   Significant
Observable
Inputs
(Level 2)
   Significant
Unobservable
Inputs
(Level 3)
 
Destinations Low Duration Fixed Income Fund                    
Investments, at value                    
Corporate Bonds & Notes  $253,207,573   $   $253,207,573   $*
Senior Loans   84,296,654        68,820,631    15,476,023 
Asset-Backed Securities   26,401,800        26,401,800     
Collateralized Mortgage Obligations   25,677,116        25,677,116     
Municipal Bonds   4,208,600        4,208,600     
Sovereign Bonds   2,527,996        2,527,996     
U.S. Government Agencies & Obligations   2,135,369        2,135,369     
Mortgage-Backed Securities   1,970,076        1,970,076     
Common Stocks:                    
Basic Materials   262,392            262,392 
Diversified   36,882,091    35,583,491    1,298,600     
Energy   106,114        106,114     
Financial   661,694    661,694         
Exchange Traded Fund (ETF)   25,224,852    25,224,852         
Preferred Stock   3,654,495    3,654,495         
Warrants   255,321    255,321         
Short-Term Investments:                    
Time Deposits   69,881,502        69,881,502     
Money Market Fund   1,371,335    1,371,335         
Total Investments, at value  $538,724,980   $66,751,188   $456,235,377   $15,738,415 
Other Financial Instruments - Assets                    
Forward Foreign Currency Contracts  $17,428   $   $17,428   $ 
Total Other Financial Instruments - Assets  $17,428   $   $17,428   $ 
Other Financial Instruments - Liabilities                    
Forward Foreign Currency Contracts  $(84,674)  $   $(84,674)  $ 
Total Other Financial Instruments - Liabilities  $(84,674)  $   $(84,674)  $ 

 

* Includes securities that are fair valued by the Board at $0.

 

 

 

   Total Fair Value at
May 28, 2021
   Unadjusted Quoted
Prices
in Active Markets
for Identical
Investments
(Level 1)
   Significant
Observable
Inputs
(Level 2)
   Significant
Unobservable
Inputs
(Level 3)
 
Destinations Global Fixed Income Opportunities Fund               
Investments, at value                    
Corporate Bonds & Notes:                    
Australia  $1,470,950   $   $1,470,950   $ 
Bermuda   2,015,233        2,015,233     
Brazil   6,996,205        6,996,205     
British Virgin Islands   2,354,804        2,354,804     
Canada   24,158,005        24,158,005     
Cayman Islands   31,002,767        31,002,767     
Chile   29,383,035        29,383,035     
Colombia   7,744,827        7,744,827     
Denmark   1,212,844        1,212,844     
Dominican Republic   1,485,981        1,485,981     
France   2,337,545        2,337,545     
Germany   6,995,497        6,995,497     
India   10,003,201        10,003,201     
Indonesia   2,885,804        2,885,804     
Ireland   1,470,000        1,470,000     
Israel   558,845        558,845     
Italy   14,517,534        14,517,534     
Jersey, Channel Islands   6,153,464        6,153,464     
Malaysia   19,207,697        19,207,697     
Marshall Islands   1,878,332        1,878,332     
Mexico   14,423,374        14,423,374     
Multinational   8,163,524        8,163,524     
Netherlands   11,760,222        11,760,222     
Norway   9,487,993        9,487,993     
Panama   9,422,089        9,422,089     
Paraguay   931,959        931,959     
Peru   14,048,971        14,048,971     
Philippines   3,105,300        3,105,300     
Portugal   2,996            2,996 
Saudi Arabia   2,447,493        2,447,493     
Singapore   40,027,480        40,027,480     
South Korea   31,050,155        31,050,155     
Sweden   466,289        466,289     
Switzerland   3,080,265        3,080,265     
Thailand   1,876,374        1,876,374     
United Kingdom   9,368,201        9,368,201     
United States   172,702,560        172,702,560     
Sovereign Bonds   66,228,236        66,228,236     
Senior Loans   64,350,553        46,518,640    17,831,913 
Preferred Stocks:                
Bermuda   2,072,456    2,072,456         
United States   20,334,628    19,142,878    1,191,750     
Common Stocks:                    
Canada   2,676,075    1,180,065    1,496,010     
Israel   6,062,380        6,062,380     
United States   56,802,475    46,471,226    5,273,064    5,058,185 
Warrants:                    
Bermuda   10,615        5,587    5,028 
Brazil   *           *
Canada   64,906    64,906         
Israel   *           *
United States   228,015    228,015         
Short-Term Investments:                    
Time Deposits   84,653,697        84,653,697     
Money Market Fund   3,452,317    3,452,317         
Total Investments, at value  $813,134,168   $72,611,863   $717,624,183   $22,898,122 
Other Financial Instruments - Assets                    
Forward Foreign Currency Contracts  $110,011   $   $110,011   $ 
Total Other Financial Instruments - Assets  $110,011   $   $110,011   $ 
                     
Other Financial Instruments - Liabilites                    
Option Contracts Written  $(73,260)  $(73,260)  $   $ 
Forward Foreign Currency Contracts   (60,467)       (60,467)    
Securities Sold Short:                    
Corporate Bonds & Notes   (946,900)       (946,900)    
Common Stocks   (1,123,704)   (1,123,704)        
Exchange Traded Fund (ETF)   (8,202,243)   (8,202,243)        
Total Other Financial Instruments - Liabilities  $(10,406,574)  $(9,399,207)  $(1,007,367)  $ 

 

* Includes securities that are fair valued by the Board at $0.

 

 

 

   Total Fair Value at
May 28, 2021
   Unadjusted Quoted
Prices
in Active Markets
for Identical
Investments
(Level 1)
   Significant
Observable
Inputs
(Level 2)
   Significant
Unobservable
Inputs
(Level 3)
 
Destinations Multi Strategy Alternatives Fund                    
Investments, at value                    
Collateralized Mortgage Obligations  $267,005,232       $267,005,232   $ 
Asset-Backed Securities   144,803,662        144,803,662     
Corporate Bonds & Notes   96,390,127        96,390,127     
Common Stocks   399,491,971    399,491,971         
Open-End Fund   230,713,882    230,713,882         
Preferred Stocks:                    
Communications   2,117,528    2,117,528         
Consumer Cyclical   8,974,300    8,974,300         
Financial   2,311,250            2,311,250 
Closed-End Fund   6,740,785    6,740,785         
Warrants   2,709,954    2,709,954         
Purchased Swaptions   2,671,069        2,671,069     
Short-Term Investments:                    
Time Deposits   54,314,043        54,314,043     
Money Market Fund   19,402,415    19,402,415         
Total Investments, at value  $1,237,646,218   $670,150,835   $565,184,133   $2,311,250 
Other Financial Instruments - Assets                    
OTC Credit Default Swaps  $9,017,149   $   $9,017,149   $ 
Total Other Financial Instruments - Assets  $9,017,149   $   $9,017,149   $ 
Other Financial Instruments - Liabilities                    
Swaption Contracts Written  $(835,729)  $   $(835,729)  $ 
Securities Sold Short:                    
Exchange Traded Fund (ETF)   (121,299,772)   (121,299,772)        
Common Stocks   (40,639,627)   (40,639,627)        
Total Other Financial Instruments - Liabilities  $(162,775,128)  $(161,939,399)  $(835,729)  $ 

 

* Includes securities that are fair valued by the Board at $0.

 

 

 

   Total Fair Value at
May 28, 2021
   Unadjusted Quoted
Prices
in Active Markets
for Identical
Investments
(Level 1)
   Significant
Observable
Inputs
(Level 2)
   Significant
Unobservable
Inputs
(Level 3)
 
Destinations Municipal Fixed Income Fund                    
Investments, at value                    
Municipal Bonds  $815,674,481   $   $815,674,481   $ 
Short-Term Investments:                    
Municipal Bonds   57,591,803        57,591,803     
Time Deposits   94,573,777        94,573,777     
Total Investments, at value  $967,840,061   $             –   $967,840,061   $              – 

 

 

 

 

The level classification by major category of investments is the same as the category presentation in the Schedules of Investments.

 

The following is a reconciliation of assets for which significant unobservable inputs (Level 3) were used in determining fair value during the period February 28, 2021 through May 28, 2021:

 

   Total   Common
Stocks
   Corporate
Bonds &
Notes
   Preferred
Stocks
   Senior Loans   Warrants 
Destinations Large Cap Equity Fund                              
Balance as of February 28, 2021  $43,495,464   $6,277,755   $              -   $37,217,709   $-   $- 
 Purchases   2,552,246    2,073,956    -    478,290                 -                 - 
 (Sales/Paydowns)   (2,550,029)   (832,143)   -    (1,717,886)   -    - 
 Total realized gain (loss)   -    -    -    -    -    - 
 Change in unrealized appreciation (depreciation)   (2,247,141)   790,199    -    (3,037,340)   -    - 
 Transfers In   3,955,735    3,955,735    -    -    -    - 
 Transfers Out   -    -    -    -    -    - 
Balance as of May 28, 2021  $45,206,275   $12,265,502   $-   $32,940,773   $-   $- 
Change in unrealized appreciation (depreciation) from Investments held as of May 28, 2021  $1,123,077   $1,098,639   $-   $24,438   $-   $- 
                               
                              
Destinations International Equity Fund                              
Balance as of February 28, 2021  $1,907,550   $240,700   $-   $1,666,850   $-   $- 
 Purchases   3,147,020    3,147,020    -    -    -    - 
 (Sales/Paydowns)   (793,594)   -    -    (793,594)   -    - 
 Total realized gain (loss)   -    -    -    -    -    - 
 Change in unrealized appreciation (depreciation)   (1,413,847)   (540,591)   -    (873,256)   -    - 
 Transfers In   429,477    429,477    -    -    -    - 
 Transfers Out   -         -    -    -    - 
Balance as of May 28, 2021  $3,276,606   $3,276,606   $-   $-   $-   $- 
Change in unrealized appreciation (depreciation) from Investments held as of May 28, 2021  $(1,413,847)  $(540,591)  $-   $(873,256)  $-   $- 
                               
                               
Destinations Low Duration Fixed Income Fund                              
Balance as of February 28, 2021  $15,677,082   $201,059   $-*  $-   $15,476,023   $- 
 Purchases   -    -    -    -    -    - 
 (Sales/Paydowns)   -    -    -    -    -    - 
 Accrued Discounts (premiums)   -    -    -    -    -    - 
 Total realized gain (loss)   -    -    -    -    -    - 
 Change in unrealized appreciation (depreciation)   61,333    61,333    -    -    -    - 
 Transfers In   -    -    -    -    -    - 
 Transfers Out   -    -    -    -    -    - 
Balance as of May 28, 2021  $15,738,415   $262,392   $-*  $-   $15,476,023   $- 
Change in unrealized appreciation (depreciation) from Investments held as of May 28, 2021  $61,333   $61,333   $-   $-   $-   $- 

 

* Includes securities that are fair valued at $0.

 

Destinations Global Fixed Income Opportunities Fund                              
Balance as of February 28, 2021  $20,689,967*  $3,686,882*  $2,996*  $-   $17,000,089*  $-*
 Purchases   8,712,451    7,914,451    -    -    798,000    - 
 (Sales/Paydowns)   (6,648,000)   (6,648,000)   -    -    -    - 
 Accrued Discounts (premiums)   -    -    -    -    -    - 
 Total realized gain (loss)   -    -    -    -    -    - 
 Change in unrealized appreciation (depreciation)   138,676    104,852    -    -    33,824    - 
 Transfers In   5,028    -    -    -    -    5,028 
 Transfers Out   -    -    -    -    -    - 
Balance as of May 28, 2021  $22,898,122   $5,058,185   $2,996   $-   $17,831,913   $5,028*
Change in unrealized appreciation (depreciation) from Investments held as of May 28, 2021  $138,676   $104,852   $-   $-   $33,824   $- 

 

* Includes securities that are fair valued at $0.

 

Destinations Multi Strategy Alternatives Fund                              
Balance as of February 28, 2021  $2,311,250   $-   $-   $2,311,250   $-   $- 
 Purchases   -    -    -    -    -    - 
 (Sales/Paydowns)   -    -    -    -    -    - 
 Accrued Discounts (premiums)   -    -    -    -    -    - 
 Total realized gain (loss)   -    -    -    -    -    - 
 Change in unrealized appreciation (depreciation)   -    -    -    -    -    - 
 Transfers In   -    -    -    -    -    - 
 Transfers Out   -    -    -    -    -    - 
Balance as of May 28, 2021  $2,311,250   $-   $-   $2,311,250   $-   $- 
Change in unrealized appreciation (depreciation) from Investments held as of May 28, 2021  $-   $-   $-   $-   $-   $- 

 

 

 

3. Investments

 

At May 28, 2021, the aggregate gross unrealized appreciation and depreciation of investments for federal income tax purposes were as follows:

 

   Aggregate Cost   Gross   Gross   Net Unrealized 
   For Federal Income   Unrealized   Unrealized   Appreciation 
Fund  Tax Purposes   Appreciation   (Depreciation)   (Depreciation) 
Destinations Large Cap Equity Fund   $3,307,311,574   $1,719,500,052   $(47,250,913)  $1,672,249,139 
Destinations Small-Mid Cap Equity Fund    1,028,592,608    338,903,175    (16,123,593)   322,779,582 
Destinations International Equity Fund   2,014,623,677    864,328,201    (44,871,362)   819,456,839 
Destinations Equity Income Fund   357,140,754    86,731,444    (7,831,349)   78,900,095 
Destinations Core Fixed Income Fund    2,436,902,422    21,161,237    (44,751,396)   (23,590,159)
Destinations Low Duration Fixed Income Fund   538,625,457    5,171,990    (5,139,713)   32,277 
Destinations Global Fixed Income Opportunities Fund    804,864,626    21,546,114    (13,300,288)   8,245,826 
Destinations Municipal Fixed Income Fund    932,914,315    35,707,234    (781,488)   34,925,746 
Destinations Multi Strategy Alternatives Fund    1,158,429,102    90,997,540    (11,077,004)   79,920,536