Brinker Capital Destinations Trust NCSRS Certified semi-annual shareholder report (management investment company)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-23207

Brinker Capital Destinations Trust

(Exact name of registrant as specified in charter)

1055 Westlakes Drive, Suite 250

Berwyn, PA 19312

(Address of principal executive offices) (Zip code)

The Corporation Trust Company

1209 Orange Street

Wilmington, Delaware 19801

(Name and address of agent for service)

Registrant’s telephone number, including area code: 1 (610) 407-5500

Date of fiscal year end:

February 29, 2024

Date of reporting period:

March 1, 2023 – August 31, 2023

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking rules.

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under clearance requirements of 44 U.S.C. § 3507.

ITEM 1. REPORTS TO STOCKHOLDERS.

(a)

The following is a copy of the report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1).

TABLE OF CONTENTS

Semi-Annual Report

August 31, 2023

Destinations Large Cap Equity Fund Class / Ticker : I / DLCFX, Z / DLCZX

Destinations Small-Mid Cap Equity Fund Class / Ticker : I / DSMFX, Z / DSMZX

Destinations International Equity Fund Class / Ticker : I / DIEFX, Z / DIEZX

Destinations Equity Income Fund Class / Ticker : I / DGEFX, Z / DGEZX

Destinations Core Fixed Income Fund Class / Ticker : I / DCFFX, Z / DCFZX

Destinations Low Duration Fixed Income Fund Class / Ticker : I / DLDFX, Z / DLDZX

Destinations Global Fixed Income Opportunities Fund Class / Ticker : I / DGFFX, Z / DGFZX

Destinations Municipal Fixed Income Fund Class / Ticker : I / DMFFX, Z / DMFZX

Destinations Multi Strategy Alternatives Fund Class / Ticker : I / DMSFX, Z / DMSZX

Destinations Shelter Fund Class / Ticker : I / DSHFX, Z / DSHZX

As permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the Funds’ shareholder reports like this one will no longer be sent by mail, unless you specifically request paper copies of the reports from your financial advisor. Instead, the reports will be made available on the Funds’ website (www.destinationsfunds.com), and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from the Funds electronically by contacting your financial advisor.

You may elect to receive all future reports in paper free of charge. You can contact your financial advisor to inform them that you wish to continue receiving paper copies of your shareholder reports. Your election to receive reports in paper will apply to all Destinations Funds held in your account.

www.destinationsfunds.com // 877.771.7979

TABLE OF CONTENTS

Table of Contents

	SHAREHOLDER LETTER					1
	FUND EXPENSES					2
	SCHEDULES OF INVESTMENTS					4
	DESTINATIONS LARGE CAP EQUITY FUND					4
	DESTINATIONS SMALL-MID CAP EQUITY FUND					25
	DESTINATIONS INTERNATIONAL EQUITY FUND					37
	DESTINATIONS EQUITY INCOME FUND					60
	DESTINATIONS CORE FIXED INCOME FUND					69
	DESTINATIONS LOW DURATION FIXED INCOME FUND					137
	DESTINATIONS GLOBAL FIXED INCOME OPPORTUNITIES FUND					157
	DESTINATIONS MUNICIPAL FIXED INCOME FUND					179
	DESTINATIONS MULTI STRATEGY ALTERNATIVES FUND					221
	DESTINATIONS SHELTER FUND					234
	STATEMENTS OF ASSETS AND LIABILITIES					250
	STATEMENTS OF OPERATIONS					252
	STATEMENTS OF CHANGES IN NET ASSETS					254
	FINANCIAL HIGHLIGHTS					256
	NOTES TO FINANCIAL STATEMENTS					276
	BOARD APPROVAL OF MANAGEMENT AGREEMENT AND INVESTMENT ADVISORY AGREEMENTS					313
	ADDITIONAL INFORMATION					316

TABLE OF CONTENTS

Shareholder Letter

Dear Shareholder,

We are pleased to provide the semi-annual report of the Destinations Funds for the six-month reporting period ended August 31, 2023. The semi-annual report will provide you with details such as the Schedule of Investments and Financial Highlights during the Funds’ reporting period.

As always, we remain committed to providing you with excellent service and a full spectrum of investment choices to help you while you pursue your objectives and goals. We also remain committed to supplementing the support you receive from your financial advisor. One way we accomplish this is through our website, www.destinationsfunds.com. On our website, you can gain immediate access to Destinations Funds information, including:

•

Fund prices and performance,

•

Holdings,

•

Distributions, and

•

A host of fund literature and resources

We want to thank you for your continued confidence in the Destinations Funds and we look forward to helping you meet your financial goals.

Sincerely,

Kylee Beach
President, Brinker Capital Destinations Trust
August 31, 2023

Important Disclosure:

Mutual fund investing involves risk. The value of your investment in a Fund could go down. Multi-investment management styles may lead to overlapping securities transactions and higher transaction expenses compared to single investment management styles. Outcomes depend on the skill of the sub-advisers and adviser and the allocation of assets amongst them, as well as market fluctuations and industry/economic trends etc.

TABLE OF CONTENTS

Fund Expenses (unaudited)

Example

All mutual funds have operating expenses. As a shareholder of a Fund, your investment is affected by these ongoing costs, which include (among others) costs for portfolio management, administrative services and shareholder reports. This example is intended to help you understand your ongoing costs (in dollars) of investing in a Fund and to compare these costs with the ongoing costs of investing in other mutual funds. This example is based on an investment of $1,000 invested on March 1, 2023 and held for the six months ended August 31, 2023.

Actual Expenses

The table below titled “Based on Actual Total Return” provides information about actual account values and actual expenses. You may use the information provided in this table, together with the amount you invested, to estimate the expenses that you paid over the period. To estimate the expenses you paid on your account during this period, divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number under the heading entitled “Expenses Paid During the Period”.

Based on Actual Total Return(1)

Fund	Total Return(2)		Beginning Account Value			Ending Account Value			Annualized Expense Ratios(3)		Expense Paid During the Period(4)
Destinations Large Cap Equity Fund – Class I		11.90%		$	1,000.00		$	1,118.99		0.82%		$	4.38
Destinations Large Cap Equity Fund – Class Z		12.02%			1,000.00			1,120.21		0.67%			3.58
Destinations Small-Mid Cap Equity Fund – Class I		1.87%			1,000.00			1,018.66		1.15%			5.85
Destinations Small-Mid Cap Equity Fund – Class Z		1.95%			1,000.00			1,019.54		1.00%			5.09
Destinations International Equity Fund – Class I		5.12%			1,000.00			1,051.19		1.01%			5.22
Destinations International Equity Fund – Class Z		5.24%			1,000.00			1,052.42		0.86%			4.45
Destinations Equity Income Fund – Class I		0.33%			1,000.00			1,003.32		0.93%			4.70
Destinations Equity Income Fund – Class Z		0.40%			1,000.00			1,003.96		0.78%			3.94
Destinations Core Fixed Income Fund – Class I		0.76%			1,000.00			1,007.56		0.82%			4.15
Destinations Core Fixed Income Fund – Class Z		0.79%			1,000.00			1,007.95		0.67%			3.39
Destinations Low Duration Fixed Income Fund – Class I		2.56%			1,000.00			1,025.55		0.97%			4.95
Destinations Low Duration Fixed Income Fund – Class Z		2.68%			1,000.00			1,026.80		0.82%			4.19
Destinations Global Fixed Income Opportunities Fund – Class I		2.56%			1,000.00			1,025.65		0.99%			5.05
Destinations Global Fixed Income Opportunities Fund – Class Z		2.59%			1,000.00			1,025.89		0.84%			4.29
Destinations Municipal Fixed Income Fund – Class I		0.95%			1,000.00			1,009.49		0.78%			3.95
Destinations Municipal Fixed Income Fund – Class Z		1.02%			1,000.00			1,010.20		0.63%			3.19
Destinations Multi Strategy Alternatives Fund – Class I		3.85%			1,000.00			1,038.52		1.29%			6.63
Destinations Multi Strategy Alternatives Fund – Class Z		3.80%			1,000.00			1,037.99		1.14%			5.86
Destinations Shelter Fund – Class I		11.44%			1,000.00			1,114.35		1.22%			6.50
Destinations Shelter Fund – Class Z		11.39%			1,000.00			1,113.90		1.08%			5.75

(1)

For the six months ended August 31, 2023.

(2)

Assumes reinvestment of all distributions, including returns of capital, if any, at net asset value. Total return is not annualized as it may not be representative of the total return for the year. Performance figure may reflect fee waivers and/or expense reimbursements. Past performance is no guarantee of future results. In the absence of fee waivers and/or expense reimbursements, the total return would have been lower.

(3)

Annualized Expense Ratios are based on the most recent six month expense ratios, which may differ from expense ratios in the Financial Highlights.

(4)

Expenses (net of fee waivers and/or expense reimbursements) are equal to each Fund’s respective annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days (184 days for Class I and Class Z) in the most recent period, then divided by 365 (to reflect the period).

TABLE OF CONTENTS

Fund Expenses (unaudited) (concluded)

Hypothetical Example for Comparison Purposes

The table below titled “Based on Hypothetical Total Return” provides information about hypothetical account values and hypothetical expenses based on each Fund’s actual expense ratio and an assumed rate of return of 5.00% per period before expenses, which is not each Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balances or expenses you paid for the period. You may use the information provided in this table to compare the ongoing costs of investing in each Fund and other funds. To do so, compare the 5.00% hypothetical example relating to a Fund with the 5.00% hypothetical examples that appear in the shareholder reports of the other funds.

Based on Hypothetical Total Return(1)

Fund	Hypothetical Annualized Total Return		Beginning Account Value			Ending Account Value			Avg		Annualized Expense Ratios(2)		Expense Paid During the Period(3)
Destinations Large Cap Equity Fund – Class I		5.00%		$	1,000.00		$	1,021.07		1,010.54		0.82%		$	4.18
Destinations Large Cap Equity Fund – Class Z		5.00%			1,000.00			1,021.83		1,010.91		0.67%			3.41
Destinations Small-Mid Cap Equity Fund – Class I		5.00%			1,000.00			1,019.41		1,009.70		1.15%			5.85
Destinations Small-Mid Cap Equity Fund – Class Z		5.00%			1,000.00			1,020.16		1,010.08		1.00%			5.09
Destinations International Equity Fund – Class I		5.00%			1,000.00			1,020.11		1,010.06		1.01%			5.14
Destinations International Equity Fund – Class Z		5.00%			1,000.00			1,020.87		1,010.44		0.86%			4.38
Destinations Equity Income Fund – Class I		5.00%			1,000.00			1,020.52		1,010.26		0.93%			4.74
Destinations Equity Income Fund – Class Z		5.00%			1,000.00			1,021.27		1,010.64		0.78%			3.97
Destinations Core Fixed Income Fund – Class I		5.00%			1,000.00			1,021.07		1,010.54		0.82%			4.18
Destinations Core Fixed Income Fund – Class Z		5.00%			1,000.00			1,021.83		1,010.91		0.67%			3.41
Destinations Low Duration Fixed Income Fund – Class I		5.00%			1,000.00			1,020.32		1,010.16		0.97%			4.94
Destinations Low Duration Fixed Income Fund – Class Z		5.00%			1,000.00			1,021.07		1,010.54		0.82%			4.18
Destinations Global Fixed Income Opportunities Fund – Class I		5.00%			1,000.00			1,020.21		1,010.11		0.99%			5.04
Destinations Global Fixed Income Opportunities Fund – Class Z		5.00%			1,000.00			1,020.97		1,010.49		0.84%			4.28
Destinations Municipal Fixed Income Fund – Class I		5.00%			1,000.00			1,021.27		1,010.64		0.78%			3.97
Destinations Municipal Fixed Income Fund – Class Z		5.00%			1,000.00			1,022.03		1,011.01		0.63%			3.21
Destinations Multi Strategy Alternatives Fund – Class I		5.00%			1,000.00			1,018.70		1,009.35		1.29%			6.56
Destinations Multi Strategy Alternatives Fund – Class Z		5.00%			1,000.00			1,019.46		1,009.73		1.14%			5.80
Destinations Shelter Fund – Class I		5.00%			1,000.00			1,019.06		1,009.53		1.22%			6.21
Destinations Shelter Fund – Class Z		5.00%			1,000.00			1,019.76		1,009.88		1.08%			5.50

(1)

For the six months ended August 31, 2023.

(2)

Annualized Expense Ratios are based on the most recent six month expense ratios, which may differ from net expense ratios in the Financial Highlights.

(3)

Expenses (net of fee waivers and/or expense reimbursements) are equal to each Fund’s respective annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days (184 days for Class I and Class Z) in the period, then divided by 365 (to reflect the period).

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Large Cap Equity Fund

Shares/Units		Security	Value
COMMON STOCKS – 97.2%
BASIC MATERIALS – 1.4%
Chemicals – 0.6%
	1,627	Air Products & Chemicals Inc.		$	480,762
	858	Albemarle Corp.			170,493
	715	Celanese Corp., Class A Shares			90,347
	1,406	CF Industries Holdings Inc.			108,360
	5,165	Dow Inc.			281,802
	3,357	DuPont de Nemours Inc.			258,120
	87,156	Eastman Chemical Co.			7,409,132
	1,816	Ecolab Inc.			333,799
	926	FMC Corp.			79,849
	1,869	International Flavors & Fragrances Inc.			131,671
	14,370	Linde PLC			5,561,765
	75,031	LyondellBasell Industries NV, Class A Shares			7,410,812
	2,581	Mosaic Co.			100,272
	1,722	PPG Industries Inc.			244,111
	1,728	Sherwin-Williams Co.			469,532
		Total Chemicals			23,130,827
Forest Products & Paper – 0.2%
	211,872	International Paper Co.			7,398,570
Iron/Steel – 0.0%
	1,854	Nucor Corp.			319,073
	1,223	Steel Dynamics Inc.			130,360
		Total Iron/Steel			449,433
Mining – 0.6%
	610,014	Freeport-McMoRan Inc.			24,345,659
	5,816	Newmont Corp.			229,267
		Total Mining			24,574,926
		TOTAL BASIC MATERIALS			55,553,756
COMMUNICATIONS – 11.8%
Advertising – 0.5%
	273,321	Interpublic Group of Cos., Inc.			8,912,998
	111,033	Omnicom Group Inc.			8,994,783
	33,711	Trade Desk Inc., Class A Shares*			2,697,891
		Total Advertising			20,605,672
Internet – 8.3%
	443,854	Alphabet Inc., Class A Shares*			60,439,599
	224,817	Alphabet Inc., Class C Shares*			30,878,615
	679,718	Amazon.com Inc.*			93,807,881
	10,966	Booking Holdings Inc.*			34,049,759
	992	CDW Corp.			209,461

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Large Cap Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
COMMUNICATIONS – (continued)
Internet – (continued)
	202,513	Coupang Inc., Class A Shares*		$	3,843,697
	3,976	eBay Inc.			178,045
	92,496	Etsy Inc.*			6,804,931
	1,085	Expedia Group Inc.*			117,603
	429	F5 Inc.*			70,210
	4,153	Gen Digital Inc.			84,098
	163,162	Match Group Inc.*			7,647,403
	110,310	Meta Platforms Inc., Class A Shares*			32,639,626
	23,235	Netflix Inc.*			10,076,555
	113,867	Palo Alto Networks Inc.*			27,703,841
	136,894	Pinterest Inc., Class A Shares*			3,763,216
	54,797	Shopify Inc., Class A Shares*			3,643,452
	28,095	Spotify Technology SA*			4,325,787
	35,548	VeriSign Inc.*			7,386,519
		Total Internet			327,670,298
Media – 1.0%
	77,103	Charter Communications Inc., Class A Shares*			33,780,366
	30,493	Comcast Corp., Class A Shares			1,425,853
	280	FactSet Research Systems Inc.			122,195
	216,785	Fox Corp., Class A Shares			7,166,912
	1,266	Fox Corp., Class B Shares			38,638
	2,739	News Corp., Class A Shares			58,861
	845	News Corp., Class B Shares			18,590
	3,618	Paramount Global, Class B Shares			54,596
	13,385	Walt Disney Co.*			1,120,057
	16,191	Warner Bros Discovery Inc.*			212,750
		Total Media			43,998,818
Telecommunications – 2.0%
	1,814	Arista Networks Inc.*			354,147
	52,226	AT&T Inc.			772,422
	505,305	Cisco Systems Inc.			28,979,242
	5,577	Corning Inc.			183,037
	2,325	Juniper Networks Inc.			67,704
	26,708	Motorola Solutions Inc.			7,573,588
	316,511	T-Mobile US Inc.*			43,124,624
	30,772	Verizon Communications Inc.			1,076,405
		Total Telecommunications			82,131,169
		TOTAL COMMUNICATIONS			474,405,957

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Large Cap Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
CONSUMER CYCLICAL – 9.4%
Airlines – 0.2%
	909	Alaska Air Group Inc.*		$	38,151
	4,656	American Airlines Group Inc.*			68,583
	4,698	Delta Air Lines Inc.			201,450
	4,354	Southwest Airlines Co.			137,586
	141,471	United Airlines Holdings Inc.*			7,046,671
		Total Airlines			7,492,441
Apparel – 0.7%
	283,208	NIKE Inc., Class B Shares			28,805,086
	294	Ralph Lauren Corp., Class A Shares			34,289
	1,726	Tapestry Inc.			57,510
	2,366	VF Corp.			46,752
		Total Apparel			28,943,637
Auto Manufacturers – 1.1%
	31,671	Cummins Inc.			7,285,597
	13,563	Ferrari NV			4,309,508
	28,687	Ford Motor Co.			347,973
	244,036	General Motors Co.			8,177,646
	3,825	PACCAR Inc.			314,759
	342,058	Rivian Automotive Inc., Class A Shares*			7,774,978
	56,880	Tesla Inc.*			14,679,590
		Total Auto Manufacturers			42,890,051
Auto Parts & Equipment – 0.5%
	128,191	Aptiv PLC*			13,004,977
	219,547	Aurora Innovation Inc., Class A Shares*			695,964
	1,678	BorgWarner Inc.			68,378
	223,570	Mobileye Global Inc., Class A Shares*			7,938,971
		Total Auto Parts & Equipment			21,708,290
Distribution/Wholesale – 1.4%
	6,282	Copart Inc.*			281,622
	4,182	Fastenal Co.			240,800
	115,829	Ferguson PLC			18,713,333
	682,147	LKQ Corp.			35,833,182
	280	Pool Corp.			102,368
	329	WW Grainger Inc.			234,952
		Total Distribution/Wholesale			55,406,257
Entertainment – 0.5%
	1,537	Caesars Entertainment Inc.*			84,935
	346,853	International Game Technology PLC			11,106,233

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Large Cap Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
CONSUMER CYCLICAL – (continued)
Entertainment – (continued)
	85,326	Live Nation Entertainment Inc.*		$	7,212,607
		Total Entertainment			18,403,775
Home Builders – 0.0%
	2,290	DR Horton Inc.			272,556
	1,858	Lennar Corp., Class A Shares			221,269
	22	NVR Inc.*			140,301
	1,653	PulteGroup Inc.			135,645
		Total Home Builders			769,771
Home Furnishings – 0.2%
	95,483	Dolby Laboratories Inc., Class A Shares			8,065,449
	390	Whirlpool Corp.			54,584
		Total Home Furnishings			8,120,033
Housewares – 0.0%
	2,696	Newell Brands Inc.			28,524
Leisure Time – 0.0%
	7,174	Carnival Corp.*			113,493
	3,019	Norwegian Cruise Line Holdings Ltd.*			50,025
	1,608	Royal Caribbean Cruises Ltd.*			159,096
		Total Leisure Time			322,614
Lodging – 0.6%
	1,952	Hilton Worldwide Holdings Inc.			290,165
	435,052	Las Vegas Sands Corp.			23,866,953
	1,892	Marriott International Inc., Class A Shares			385,041
	2,344	MGM Resorts International			103,089
	739	Wynn Resorts Ltd.			74,920
		Total Lodging			24,720,168
Retail – 4.0%
	137	AutoZone Inc.*			346,792
	1,636	Bath & Body Works Inc.			60,319
	1,458	Best Buy Co., Inc.			111,464
	631,133	BJ’s Wholesale Club Holdings Inc.*			42,532,053
	1,132	CarMax Inc.*			92,462
	13,419	Chipotle Mexican Grill Inc., Class A Shares*			25,853,582
	52,375	Costco Wholesale Corp.			28,768,540
	892	Darden Restaurants Inc.			138,715
	1,638	Dollar General Corp.			226,863
	125,429	Dollar Tree Inc.*			15,347,492
	18,523	Domino’s Pizza Inc.			7,175,810

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Large Cap Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
CONSUMER CYCLICAL – (continued)
Retail – (continued)
	12,542	Floor & Decor Holdings Inc., Class A Shares*		$	1,250,437
	1,033	Genuine Parts Co.			158,803
	7,423	Home Depot Inc.			2,451,817
	4,369	Lowe’s Cos., Inc.			1,006,967
	46,893	Lululemon Athletica Inc.*			17,878,425
	5,366	McDonald’s Corp.			1,508,651
	457	O’Reilly Automotive Inc.*			429,443
	41,133	Ross Stores Inc.			5,010,411
	8,421	Starbucks Corp.			820,542
	3,373	Target Corp.			426,853
	8,466	TJX Cos., Inc.			782,936
	809	Tractor Supply Co.			176,767
	377	Ulta Beauty Inc.*			156,466
	5,250	Walgreens Boots Alliance Inc.			132,878
	10,275	Walmart Inc.			1,670,818
	55,940	Yum! Brands Inc.			7,237,517
		Total Retail			161,753,823
Toys/Games/Hobbies – 0.2%
	80,804	Hasbro Inc.			5,817,888
		TOTAL CONSUMER CYCLICAL			376,377,272
CONSUMER NON-CYCLICAL – 23.2%
Agriculture – 0.7%
	179,945	Altria Group Inc.			7,957,168
	4,008	Archer-Daniels-Midland Co.			317,834
	105,114	Bunge Ltd.			12,016,632
	100,639	Philip Morris International Inc.			9,667,382
		Total Agriculture			29,959,016
Beverages – 1.5%
	104,647	Brown-Forman Corp., Class B Shares			6,920,306
	28,517	Coca-Cola Co.			1,706,172
	18,840	Constellation Brands Inc., Class A Shares			4,908,950
	1,289,064	Keurig Dr Pepper Inc.			43,377,004
	1,347	Molson Coors Beverage Co., Class B Shares			85,521
	5,581	Monster Beverage Corp.*			320,405
	10,091	PepsiCo Inc.			1,795,391
		Total Beverages			59,113,749
Biotechnology – 3.7%
	31,380	Alnylam Pharmaceuticals Inc.*			6,207,592
	3,912	Amgen Inc.			1,002,802

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Large Cap Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
CONSUMER NON-CYCLICAL – (continued)
Biotechnology – (continued)
	8,395	Argenx SE, ADR*		$	4,218,404
	54,055	Biogen Inc.*			14,452,145
	354,729	BioMarin Pharmaceutical Inc.*			32,415,136
	154	Bio-Rad Laboratories Inc., Class A Shares*			61,631
	5,223	Corteva Inc.			263,814
	278,052	Gilead Sciences Inc.			21,265,417
	111,993	Illumina Inc.*			18,503,483
	112,659	Incyte Corp.*			7,269,885
	22,869	Legend Biotech Corp., ADR*			1,586,194
	2,421	Moderna Inc.*			273,742
	19,506	Regeneron Pharmaceuticals Inc.*			16,121,514
	93,000	Sarepta Therapeutics Inc.*			11,253,930
	34,123	Vertex Pharmaceuticals Inc.*			11,886,406
		Total Biotechnology			146,782,095
Commercial Services – 2.1%
	3,036	Automatic Data Processing Inc.			772,996
	4,143	Cintas Corp.			2,088,776
	348,541	CoStar Group Inc.*			28,576,877
	37,821	Equifax Inc.			7,817,601
	540	FleetCor Technologies Inc.*			146,734
	579	Gartner Inc.*			202,465
	1,928	Global Payments Inc.			244,258
	30,919	MarketAxess Holdings Inc.			7,449,315
	1,154	Moody’s Corp.			388,667
	8,289	PayPal Holdings Inc.*			518,145
	147,600	Quanta Services Inc.			30,976,812
	777	Robert Half Inc.			57,467
	1,658	Rollins Inc.			65,607
	2,412	S&P Global Inc.			942,754
	38,699	TransUnion			3,143,133
	508	United Rentals Inc.			242,082
	1,062	Verisk Analytics Inc., Class A Shares			257,238
		Total Commercial Services			83,890,927
Cosmetics/Personal Care – 0.6%
	6,120	Colgate-Palmolive Co.			449,636
	1,697	Estee Lauder Cos., Inc., Class A Shares			272,419
	808,700	Kenvue Inc.			18,640,535
	35,590	Procter & Gamble Co.			5,492,961
		Total Cosmetics/Personal Care			24,855,551

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Large Cap Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
CONSUMER NON-CYCLICAL – (continued)
Food – 1.8%
	1,439	Campbell Soup Co.		$	60,006
	3,507	Conagra Brands Inc.			104,789
	4,320	General Mills Inc.			292,291
	1,077	Hershey Co.			231,404
	2,074	Hormel Foods Corp.			80,036
	781	JM Smucker Co.			113,206
	1,875	Kellogg Co.			114,413
	5,834	Kraft Heinz Co.			193,047
	749,380	Kroger Co.			34,763,738
	1,054	Lamb Weston Holdings Inc.			102,670
	1,837	McCormick & Co., Inc.			150,781
	9,989	Mondelez International Inc., Class A Shares			711,816
	286,620	Nestle SA, ADR(a)			34,431,661
	3,719	Sysco Corp.			259,028
	2,136	Tyson Foods Inc., Class A Shares			113,785
		Total Food			71,722,671
Healthcare-Products – 5.8%
	12,775	Abbott Laboratories			1,314,548
	96,911	Alcon Inc.			8,042,644
	532	Align Technology Inc.*			196,915
	94,952	Avantor Inc.*			2,055,711
	141,571	Baxter International Inc.			5,747,783
	1,125	Bio-Techne Corp.			88,200
	295,036	Boston Scientific Corp.*			15,914,242
	25,254	Cooper Cos., Inc.			9,343,727
	141,723	Danaher Corp.			37,556,595
	1,540	DENTSPLY SIRONA Inc.			57,119
	94,727	Edwards Lifesciences Corp.*			7,243,774
	292,961	Exact Sciences Corp.*			24,512,047
	115,747	GE HealthCare Technologies Inc.			8,154,376
	92,392	Globus Medical Inc., Class A Shares*			4,998,407
	98,326	Hologic Inc.*			7,348,885
	607	IDEXX Laboratories Inc.*			310,426
	107,051	Insulet Corp.*			20,522,747
	139,412	Intuitive Surgical Inc.*			43,591,344
	375,542	Medtronic PLC			30,606,673
	1,076	ResMed Inc.			171,719
	929	Revvity Inc.			108,721
	727	STERIS PLC			166,912

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Large Cap Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
CONSUMER NON-CYCLICAL – (continued)
Healthcare-Products – (continued)
	8,911	Stryker Corp.		$	2,526,714
	336	Teleflex Inc.			71,481
	10,130	Thermo Fisher Scientific Inc.			5,643,423
	438	Waters Corp.*			122,990
	542	West Pharmaceutical Services Inc.			220,540
	1,538	Zimmer Biomet Holdings Inc.			183,207
		Total Healthcare-Products			236,821,870
Healthcare-Services – 2.6%
	1,289	Catalent Inc.*			64,411
	189,993	Centene Corp.*			11,713,068
	365	Charles River Laboratories International Inc.*			75,489
	68,303	DaVita Inc.*			6,995,593
	1,750	Elevance Health Inc.			773,518
	1,506	HCA Healthcare Inc.			417,614
	11,760	Humana Inc.			5,428,769
	1,361	IQVIA Holdings Inc.*			302,999
	33,970	Laboratory Corp. of America Holdings			7,069,157
	23,157	Molina Healthcare Inc.*			7,181,449
	54,571	Quest Diagnostics Inc.			7,176,087
	113,160	UnitedHealth Group Inc.			53,929,793
	460	Universal Health Services Inc., Class B Shares			61,962
		Total Healthcare-Services			101,189,909
Household Products/Wares – 0.0%
	596	Avery Dennison Corp.			112,274
	1,787	Church & Dwight Co., Inc.			172,928
	905	Clorox Co.			141,587
	2,473	Kimberly-Clark Corp.			318,597
		Total Household Products/Wares			745,386
Pharmaceuticals – 4.4%
	154,737	AbbVie Inc.			22,740,150
	114,449	Becton Dickinson & Co.			31,982,773
	15,578	Bristol-Myers Squibb Co.			960,384
	1,888	Cardinal Health Inc.			164,879
	1,186	Cencora Inc.			208,712
	20,855	Cigna Group			5,761,402
	9,409	CVS Health Corp.			613,185
	104,204	DexCom Inc.*			10,522,520
	108,507	Eli Lilly & Co.			60,134,579
	971	Henry Schein Inc.*			74,320

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Large Cap Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
CONSUMER NON-CYCLICAL – (continued)
Pharmaceuticals – (continued)
	17,671	Johnson & Johnson		$	2,857,047
	29,816	McKesson Corp.			12,293,733
	18,577	Merck & Co., Inc.			2,024,521
	316,807	Organon & Co.			6,957,082
	41,128	Pfizer Inc.			1,455,109
	201,446	Sanofi, ADR			10,712,898
	8,688	Viatris Inc.			93,396
	15,468	Zoetis Inc., Class A Shares			2,946,809
		Total Pharmaceuticals			172,503,499
		TOTAL CONSUMER NON-CYCLICAL			927,584,673
ENERGY – 6.0%
Energy-Alternate Sources – 0.0%
	996	Enphase Energy Inc.*			126,024
	726	First Solar Inc.*			137,301
	400	SolarEdge Technologies Inc.*			65,028
		Total Energy-Alternate Sources			328,353
Oil & Gas – 5.5%
	2,303	APA Corp.			100,963
	13,058	Chevron Corp.			2,103,644
	169,585	ConocoPhillips			20,185,703
	5,777	Coterra Energy Inc.			162,854
	4,790	Devon Energy Corp.			244,721
	1,362	Diamondback Energy Inc.			206,724
	181,789	EOG Resources Inc.			23,381,701
	526,203	EQT Corp.			22,742,494
	29,663	Exxon Mobil Corp.			3,298,229
	152,239	Hess Corp.			23,520,925
	4,671	Marathon Oil Corp.			123,081
	179,155	Marathon Petroleum Corp.			25,577,959
	537,802	Occidental Petroleum Corp.			33,768,588
	3,414	Phillips 66			389,742
	1,741	Pioneer Natural Resources Co.			414,236
	344,781	Shell PLC, ADR			21,407,452
	734,804	Suncor Energy Inc.			24,895,159
	209,553	Valaris Ltd.*			15,783,532
	2,653	Valero Energy Corp.			344,625
		Total Oil & Gas			218,652,332

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Large Cap Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
ENERGY – (continued)
Oil & Gas Services – 0.5%
	7,371	Baker Hughes Co., Class A Shares		$	266,756
	6,624	Halliburton Co.			255,819
	334,009	Schlumberger NV			19,693,171
		Total Oil & Gas Services			20,215,746
Pipelines – 0.0%
	14,494	Kinder Morgan Inc.			249,587
	3,275	ONEOK Inc.			213,530
	1,659	Targa Resources Corp.			143,089
	8,924	Williams Cos., Inc.			308,146
		Total Pipelines			914,352
		TOTAL ENERGY			240,110,783
FINANCIAL – 17.1%
Banks – 2.1%
	51,138	Bank of America Corp.			1,466,126
	5,389	Bank of New York Mellon Corp.			241,804
	14,191	Citigroup Inc.			585,946
	3,528	Citizens Financial Group Inc.			99,243
	938	Comerica Inc.			45,127
	5,007	Fifth Third Bancorp			132,936
	28,942	Goldman Sachs Group Inc.			9,484,583
	10,573	Huntington Bancshares Inc.			117,255
	311,836	JPMorgan Chase & Co.			45,630,962
	6,684	KeyCorp			75,730
	1,245	M&T Bank Corp.			155,687
	134,517	Morgan Stanley			11,454,123
	1,537	Northern Trust Corp.			116,920
	2,938	PNC Financial Services Group Inc.			354,705
	6,843	Regions Financial Corp.			125,501
	2,557	State Street Corp.			175,768
	9,722	Truist Financial Corp.			297,007
	391,878	US Bancorp			14,315,303
	27,530	Wells Fargo & Co.			1,136,714
	1,072	Zions Bancorp N.A.			38,056
		Total Banks			86,049,496
Diversified Financial Services – 5.7%
	4,362	American Express Co.			689,152
	33,260	Ameriprise Financial Inc.			11,227,911
	573,140	Ant Group Co., Ltd.*(a)(c)@			561,219
	1,097	BlackRock Inc., Class A Shares			768,492

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Large Cap Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
FINANCIAL – (continued)
Diversified Financial Services – (continued)
	2,794	Capital One Financial Corp.		$	286,078
	760	Cboe Global Markets Inc.			113,780
	641,348	Charles Schwab Corp.			37,935,734
	128,967	CME Group Inc., Class A Shares			26,139,032
	1,842	Discover Financial Services			165,909
	2,035	Franklin Resources Inc.			54,416
	4,095	Intercontinental Exchange Inc.			483,169
	3,258	Invesco Ltd.			51,867
	58,724	LPL Financial Holdings Inc.			13,541,167
	349	Maplebear Inc. d/b/a Instacart, Non-voting Shares*(a)(c)@			12,599
	6,679	Maplebear Inc. d/b/a Instacart, Private Placement*(a)(c)@			241,112
	44,110	Mastercard Inc., Class A Shares			18,201,550
	2,484	Nasdaq Inc.			130,360
	1,420	Raymond James Financial Inc.			148,518
	3,233	Synchrony Financial			104,361
	1,643	T Rowe Price Group Inc.			184,394
	365,605	Visa Inc., Class A Shares			89,821,836
	258,085	Voya Financial Inc.			17,983,363
		Total Diversified Financial Services			218,846,019
Equity Real Estate Investment Trusts (REITs) – 0.2%
	1,186	Alexandria Real Estate Equities Inc.			137,979
	3,411	American Tower Corp.			618,483
	1,025	AvalonBay Communities Inc.			188,415
	1,022	Boston Properties Inc.			68,239
	887	Camden Property Trust			95,459
	3,173	Crown Castle Inc.			318,886
	2,107	Digital Realty Trust Inc.			277,534
	678	Equinix Inc.			529,776
	2,495	Equity Residential			161,751
	464	Essex Property Trust Inc.			110,613
	1,549	Extra Space Storage Inc.			199,325
	524	Federal Realty Investment Trust			51,321
	4,494	Healthpeak Properties Inc.			92,487
	5,123	Host Hotels & Resorts Inc.			80,892
	4,256	Invitation Homes Inc.			145,087
	2,130	Iron Mountain Inc.			135,340
	4,431	Kimco Realty Corp.			83,923
	846	Mid-America Apartment Communities Inc.			122,865
	6,763	Prologis Inc.			839,965

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Large Cap Equity Fund (continued)

Shares/Units		��	Security	Value
COMMON STOCKS – (continued)
FINANCIAL – (continued)
Equity Real Estate Investment Trusts (REITs) – (continued)
	1,158		Public Storage		$	320,048
	4,939		Realty Income Corp.			276,782
	1,103		Regency Centers Corp.			68,607
	791		SBA Communications Corp., Class A Shares			177,603
	2,396		Simon Property Group Inc.			271,922
	2,515		UDR Inc.			100,349
	2,931		Ventas Inc.			128,026
	7,354		VICI Properties Inc., Class A Shares			226,797
	3,647		Welltower Inc.			302,263
	224,613		Weyerhaeuser Co.			7,356,076
			Total Equity Real Estate Investment Trusts (REITs)			13,486,813
Insurance – 8.1%
	4,102		Aflac Inc.			305,886
	115,115		Allstate Corp.			12,410,548
	223,423		American International Group Inc.			13,074,714
	45,896		Aon PLC, Class A Shares			15,301,267
	2,710		Arch Capital Group Ltd.*			208,291
	1,554		Arthur J Gallagher & Co.			358,166
	139,015		Assurant Inc.			19,368,960
	329,387		Berkshire Hathaway Inc., Class B Shares*			118,645,197
	1,683		Brown & Brown Inc.			124,710
	30,706		Chubb Ltd.			6,167,914
	1,156		Cincinnati Financial Corp.			122,293
	35,541		Everest Group Ltd.			12,818,928
	50,336		Fairfax Financial Holdings Ltd.			41,501,025
	648		Globe Life Inc.			72,297
	2,309		Hartford Financial Services Group Inc.			165,832
	1,103		Lincoln National Corp.			28,303
	1,412		Loews Corp.			87,671
	3,627		Marsh & McLennan Cos., Inc.			707,229
	4,829		MetLife Inc.			305,869
	1,669		Principal Financial Group Inc.			129,698
	296,134		Progressive Corp.			39,525,005
	2,696		Prudential Financial Inc.			255,230
	86,493		RenaissanceRe Holdings Ltd.			16,251,170
	1,693		Travelers Cos., Inc.			272,962
	142,300		Willis Towers Watson PLC			29,421,948
	1,464		WR Berkley Corp.			90,563
			Total Insurance			327,721,676

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Large Cap Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
FINANCIAL – (continued)
Private Equity – 1.0%
	106,405	Ares Management Corp., Class A Shares		$	11,006,533
	419,873	KKR & Co., Inc.			26,372,223
		Total Private Equity			37,378,756
Real Estate – 0.0%
	2,315	CBRE Group Inc., Class A Shares*			196,891
		TOTAL FINANCIAL			683,679,651
INDUSTRIAL – 6.6%
Aerospace/Defense – 1.9%
	21,865	Airbus SE			3,209,619
	79,350	Boeing Co.*			17,776,781
	33,736	General Dynamics Corp.			7,645,927
	186,436	Howmet Aerospace Inc.			9,222,989
	1,395	L3Harris Technologies Inc.			248,436
	17,803	Lockheed Martin Corp.			7,981,975
	57,412	Northrop Grumman Corp.			24,864,563
	10,734	RTX Corp.			923,553
	380	TransDigm Group Inc.*			343,463
		Total Aerospace/Defense			72,217,306
Building Materials – 1.2%
	331,421	Armstrong World Industries Inc.			25,383,534
	6,112	Carrier Global Corp.			351,134
	5,035	Johnson Controls International PLC			297,367
	455	Martin Marietta Materials Inc.			203,117
	1,616	Masco Corp.			95,360
	378	Mohawk Industries Inc.*			38,325
	97,270	Trane Technologies PLC			19,965,640
	974	Vulcan Materials Co.			212,576
		Total Building Materials			46,547,053
Electrical Components & Equipment – 0.0%
	1,683	AMETEK Inc.			268,455
	4,187	Emerson Electric Co.			411,373
	454	Generac Holdings Inc.*			53,940
		Total Electrical Components & Equipment			733,768
Electronics – 0.5%
	2,168	Agilent Technologies Inc.			262,480
	629	Allegion PLC			71,586
	5,011	Amphenol Corp., Class A Shares			442,872
	2,586	Fortive Corp.			203,906

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Large Cap Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
INDUSTRIAL – (continued)
Electronics – (continued)
	1,223	Garmin Ltd.		$	129,662
	43,223	Honeywell International Inc.			8,123,331
	18,604	Hubbell Inc., Class B Shares			6,065,834
	1,307	Keysight Technologies Inc.*			174,223
	162	Mettler-Toledo International Inc.*			196,584
	9,065	Sartorius AG			3,709,532
	2,319	TE Connectivity Ltd.			307,012
	1,767	Trimble Inc.*			96,814
		Total Electronics			19,783,836
Engineering & Construction – 0.0%
	930	Jacobs Solutions Inc.			125,383
Environmental Control – 0.0%
	1,178	Pentair PLC			82,766
	1,505	Republic Services Inc., Class A Shares			216,916
	2,721	Waste Management Inc.			426,598
		Total Environmental Control			726,280
Hand/Machine Tools – 0.0%
	381	Snap-on Inc.			102,337
	1,060	Stanley Black & Decker Inc.			100,043
		Total Hand/Machine Tools			202,380
Machinery-Construction & Mining – 0.0%
	3,813	Caterpillar Inc.			1,071,949
Machinery-Diversified – 0.0%
	1,981	Deere & Co.			814,072
	1,024	Dover Corp.			151,859
	553	IDEX Corp.			125,199
	2,967	Ingersoll Rand Inc.			206,533
	385	Nordson Corp.			93,994
	3,040	Otis Worldwide Corp.			260,072
	841	Rockwell Automation Inc.			262,459
	1,333	Westinghouse Air Brake Technologies Corp.			149,989
	1,750	Xylem Inc.			181,195
		Total Machinery-Diversified			2,245,372
Miscellaneous Manufacturers – 1.9%
	4,033	3M Co.			430,200
	102,811	AO Smith Corp.			7,453,798
	35,679	Axon Enterprise Inc.*			7,596,416
	106,287	Carlisle Cos., Inc.			27,955,607

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Large Cap Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
INDUSTRIAL – (continued)
Miscellaneous Manufacturers – (continued)
	73,718	Eaton Corp. PLC		$	16,982,416
	7,981	General Electric Co.			913,505
	2,034	Illinois Tool Works Inc.			503,110
	940	Parker-Hannifin Corp.			391,886
	17,781	Teledyne Technologies Inc.*			7,437,792
	95,050	Textron Inc.			7,386,336
		Total Miscellaneous Manufacturers			77,051,066
Packaging & Containers – 0.0%
	10,968	Amcor PLC			106,828
	2,300	Ball Corp.			125,235
	663	Packaging Corp. of America			98,853
	1,036	Sealed Air Corp.			38,394
	1,822	WestRock Co.			59,598
		Total Packaging & Containers			428,908
Shipbuilding – 0.2%
	32,187	Huntington Ingalls Industries Inc.			7,091,440
Transportation – 0.9%
	843	CH Robinson Worldwide Inc.			76,232
	14,916	CSX Corp.			450,463
	1,166	Expeditors International of Washington Inc.			136,084
	95,368	FedEx Corp.			24,892,955
	670	JB Hunt Transport Services Inc.			125,880
	1,669	Norfolk Southern Corp.			342,162
	7,213	Old Dominion Freight Line Inc.			3,082,620
	4,483	Union Pacific Corp.			988,815
	46,732	United Parcel Service Inc., Class B Shares			7,916,401
		Total Transportation			38,011,612
		TOTAL INDUSTRIAL			266,236,353
TECHNOLOGY – 20.3%
Computers – 4.0%
	19,478	Accenture PLC, Class A Shares			6,306,392
	454,630	Apple Inc.			85,411,338
	32,534	CACI International Inc., Class A Shares*			10,671,477
	62,902	Check Point Software Technologies Ltd.*			8,465,980
	3,729	Cognizant Technology Solutions Corp., Class A Shares			267,034
	142,739	Crowdstrike Holdings Inc., Class A Shares*			23,270,739
	1,648	DXC Technology Co.*			34,180
	422	EPAM Systems Inc.*			109,294
	126,500	Fortinet Inc.*			7,616,565

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Large Cap Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
TECHNOLOGY – (continued)
Computers – (continued)
	9,392	Hewlett Packard Enterprise Co.		$	159,570
	6,333	HP Inc.			188,153
	63,345	International Business Machines Corp.			9,300,946
	74,968	Leidos Holdings Inc.			7,310,130
	1,579	NetApp Inc.			121,109
	1,376	Seagate Technology Holdings PLC			97,407
	2,608	Western Digital Corp.*			117,360
		Total Computers			159,447,674
Office/Business Equipment – 0.0%
	380	Zebra Technologies Corp., Class A Shares*			104,504
Semiconductors – 5.3%
	263,761	Advanced Micro Devices Inc.*			27,884,813
	3,714	Analog Devices Inc.			675,131
	194,197	Applied Materials Inc.			29,665,534
	11,881	ASML Holding NV, Class NY Registered Shares, ADR			7,847,757
	3,062	Broadcom Inc.			2,825,889
	343,804	Intel Corp.			12,081,273
	1,015	KLA Corp.			509,398
	14,880	Lam Research Corp.			10,451,712
	40,688	Marvell Technology Inc.			2,370,076
	4,014	Microchip Technology Inc.			328,506
	240,018	Micron Technology Inc.			16,786,859
	328	Monolithic Power Systems Inc.			170,957
	183,481	NVIDIA Corp.			90,557,048
	1,899	NXP Semiconductors NV			390,662
	3,165	ON Semiconductor Corp.*			311,626
	726	Qorvo Inc.*			77,965
	71,874	QUALCOMM Inc.			8,231,729
	1,167	Skyworks Solutions Inc.			126,900
	1,141	Teradyne Inc.			123,080
	6,640	Texas Instruments Inc.			1,115,918
		Total Semiconductors			212,532,833
Software – 11.0%
	5,218	Activision Blizzard Inc.			480,004
	72,422	Adobe Inc.*			40,508,521
	113,860	Akamai Technologies Inc.*			11,965,547
	638	ANSYS Inc.*			203,439
	8,701	Atlassian Corp., Class A Shares*			1,775,526
	1,581	Autodesk Inc.*			350,887

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Large Cap Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
TECHNOLOGY – (continued)
Software – (continued)
	862	Broadridge Financial Solutions Inc.		$	160,513
	2,010	Cadence Design Systems Inc.*			483,284
	575	Canva Inc.*(a)(c)@			613,330
	1,271	Celonis SE*(a)(c)@			283,535
	30,023	Ceridian HCM Holding Inc.*			2,177,268
	377,469	Dynatrace Inc.*			18,194,006
	1,909	Electronic Arts Inc.			229,042
	3,796	Epic Games Inc., Private Placement*(a)(c)@			2,621,707
	8,479	Fair Isaac Corp.*			7,670,019
	4,348	Fidelity National Information Services Inc.			242,879
	394,013	Fiserv Inc.*			47,829,238
	108,269	Intuit Inc.			58,661,227
	523	Jack Henry & Associates Inc.			81,996
	835	Magic Leap Inc., Series D, Private Placement*(a)(c)@			16,034
	418,347	Microsoft Corp.			137,117,413
	4,174	MongoDB Inc., Class A Shares*			1,591,546
	55,707	MSCI Inc., Class A Shares			30,283,439
	11,260	Oracle Corp.			1,355,591
	2,351	Paychex Inc.			287,363
	354	Paycom Software Inc.			104,373
	853	PTC Inc.*			125,536
	13,981	Roper Technologies Inc.			6,977,358
	43,822	Salesforce Inc.*			9,704,820
	90,702	ServiceNow Inc.*			53,408,059
	20,012	Stripe Inc., Class B Shares, Private Placement*(a)(c)@			438,463
	1,117	Synopsys Inc.*			512,580
	1,162	Take-Two Interactive Software Inc.*			165,236
	305	Tyler Technologies Inc.*			121,521
		Total Software			436,741,300
		TOTAL TECHNOLOGY			808,826,311
UTILITIES – 1.4%
Electric – 1.4%
	4,961	AES Corp.			88,951
	1,798	Alliant Energy Corp.			90,206
	1,894	Ameren Corp.			150,137
	3,765	American Electric Power Co., Inc.			295,176
	4,613	CenterPoint Energy Inc.			128,657
	2,134	CMS Energy Corp.			119,909
	2,600	Consolidated Edison Inc.			231,296
	220,352	Constellation Energy Corp.			22,951,864

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Large Cap Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
UTILITIES – (continued)
Electric – (continued)
	6,105	Dominion Energy Inc.		$	296,337
	1,420	DTE Energy Co.			146,800
	5,642	Duke Energy Corp.			501,010
	2,798	Edison International			192,642
	1,491	Entergy Corp.			142,018
	1,687	Evergy Inc.			92,734
	2,552	Eversource Energy			162,869
	7,281	Exelon Corp.			292,114
	3,980	FirstEnergy Corp.			143,559
	216,822	IDACORP Inc.			20,780,221
	14,846	NextEra Energy Inc.			991,713
	1,651	NRG Energy Inc.			61,995
	11,797	PG&E Corp.*			192,291
	94,716	Pinnacle West Capital Corp.			7,318,705
	5,395	PPL Corp.			134,443
	3,656	Public Service Enterprise Group Inc.			223,308
	4,606	Sempra			323,433
	7,977	Southern Co.			540,282
	2,311	WEC Energy Group Inc.			194,401
	4,010	Xcel Energy Inc.			229,091
		Total Electric			57,016,162
Gas – 0.0%
	1,118	Atmos Energy Corp.			129,632
	2,910	NiSource Inc.			77,872
		Total Gas			207,504
Water – 0.0%
	1,414	American Water Works Co., Inc.			196,178
		TOTAL UTILITIES			57,419,844
		TOTAL COMMON STOCKS (Cost – $2,808,376,185)			3,890,194,600
EXCHANGE TRADED FUNDS (ETFs) – 1.6%
	18,587	iShares Russell 1000 Growth			5,239,861
	239,974	Vanguard Mega Capital Growth			57,905,726
		TOTAL EXCHANGE TRADED FUNDS (ETFs) (Cost – $54,534,212)			63,145,587
PREFERRED STOCKS – 0.2%
CONSUMER CYCLICAL – 0.1%
Auto Manufacturers – 0.1%
	22,768	Dr Ing hc F Porsche AG(b)			2,514,406
	21,292	Sila Nanotechnologies Inc., Series F, Private Placement*(a)(c)@			431,802

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Large Cap Equity Fund (continued)

Shares/Units		Security	Value
PREFERRED STOCKS – (continued)
CONSUMER CYCLICAL – (continued)
Auto Manufacturers – (continued)
	9,549	Waymo LLC, Series A2, Private Placement*(a)(c)@		$	431,710
		Total Auto Manufacturers			3,377,918
		TOTAL CONSUMER CYCLICAL			3,377,918
FINANCIAL – 0.0%
Diversified Financial Services – 0.0%
	1,020	Maplebear Inc. d/b/a Instacart, Series A*(a)(c)@			36,822
	13,638	Maplebear Inc. d/b/a Instacart, Series G*(a)(c)@			492,332
	2,066	Maplebear Inc. d/b/a Instacart, Series I*(a)(c)@			74,583
		Total Diversified Financial Services			603,737
		TOTAL FINANCIAL			603,737
INDUSTRIAL – 0.1%
Electrical Components & Equipment – 0.0%
	48,400	GM Cruise Holdings LLC, Class F Shares, Private Placement*(a)(c)@			877,008
	39,865	GM Cruise Holdings LLC, Class G Shares, Private Placement*(a)(c)@			722,354
		Total Electrical Components & Equipment			1,599,362
Environmental Control – 0.1%
	23,420	Redwood Materials Inc., Series C, Private Placement*(a)(c)@			1,117,974
Machinery – 0.0%
	108,389	Nuro Inc., Series C, Private Placement*(a)(c)@			672,012
	26,242	Nuro Inc., Series D*(a)(c)@			162,700
		Total Machinery			834,712
		TOTAL INDUSTRIAL			3,552,048
TECHNOLOGY – 0.0%
Software – 0.0%
	27	Canva Inc., Series A, Private Placement*(a)(c)@			28,800
	10	Canva Inc., Series A-3, Private Placement*(a)(c)@			10,667
	1	Canva Inc., Series A-4, Private Placement*(a)(c)@			1,067
	3,788	Celonis SE, Series D*(a)(c)@			845,027
	6,765	Formagrid Inc.*(a)(c)@			443,852
	20,620	Rappi Inc., Series E, Private Placement*(a)(c)@			742,526
		Total Software			2,071,939
		TOTAL TECHNOLOGY			2,071,939
		TOTAL PREFERRED STOCKS (Cost – $13,477,791)			9,605,642
		TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS (Cost – $2,876,388,188)			3,962,945,829

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Large Cap Equity Fund (continued)

Face Amount†			Security	Value
SHORT-TERM INVESTMENTS – 1.2%
TIME DEPOSITS – 1.2%
	$	11,852,161	ANZ National Bank – London, 4.680% due 9/1/23		$	11,852,161
		90,742EUR	Citibank – London, 2.630% due 9/1/23			98,391
		9,946,505	Citibank – New York, 4.680% due 9/1/23			9,946,505
		27,939,638	JPMorgan Chase & Co. – New York, 4.680% due 9/1/23			27,939,638
		4GBP	Skandinaviska Enskilda Banken AB – Stockholm, 4.170% due 9/1/23			6
			TOTAL TIME DEPOSITS (Cost – $49,836,701)			49,836,701
			TOTAL INVESTMENTS – 100.2% (Cost – $2,926,224,889)			4,012,782,530
			Liabilities in Excess of Other Assets – (0.2)%			(7,509,161)
			TOTAL NET ASSETS – 100.0%		$	4,005,273,369

†

Face amount denominated in U.S. dollars, unless otherwise noted.

Non-income producing security.

(a)

Illiquid security. The aggregate value of illiquid holdings at August 31, 2023, amounts to $46,310,896 and represents 1.16% of net assets.

(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 August 31, 2023, amounts to $2,514,406 and represents 0.06% of net assets.

(c)

Security is valued in good faith at fair value by or under the direction of the Board of Trustees using significant unobservable inputs.

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
Ant Group Co., Ltd.		8/14/2023		$	573,140		$	561,219		0.01%
Canva Inc.		12/17/2021			589,640			613,330		0.02%
Canva Inc., Series A, Private Placement		12/17/2021			46,012			28,800		0.00%*
Canva Inc., Series A-3, Private Placement		12/17/2021			17,042			10,667		0.00%*
Canva Inc., Series A-4, Private Placement		12/17/2021			1,704			1,067		0.00%*
Celonis SE		6/17/2021			470,003			283,535		0.01%
Celonis SE, Series D		6/17/2021			1,225,484			845,027		0.02%
Epic Games Inc., Private Placement		6/18/2020			1,665,200			2,621,707		0.07%
Formagrid Inc.		12/8/2021			1,266,980			443,852		0.01%
GM Cruise Holdings LLC, Class F Shares, Private Placement		5/7/2019			883,300			877,008		0.02%
GM Cruise Holdings LLC, Class G Shares, Private Placement		1/21/2021			1,050,443			722,354		0.02%
Magic Leap Inc., Series D, Private Placement		10/12/2017			406,539			16,034		0.00%*
Maplebear Inc. d/b/a Instacart, Non-voting Shares		8/7/2020			16,171			12,599		0.00%*
Maplebear Inc. d/b/a Instacart, Private Placement		8/7/2020			309,464			241,112		0.01%
Maplebear Inc. d/b/a Instacart, Series A		11/18/2020			62,232			36,822		0.00%*
Maplebear Inc. d/b/a Instacart, Series G		7/2/2020			655,877			492,332		0.01%

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Large Cap Equity Fund (concluded)

Security (continued)	First Acquisition Date		First Acquisition Cost			Market Value			Percent of Net Assets
Maplebear Inc. d/b/a Instacart, Series I		2/26/2021		$	258,250		$	74,583		0.00%*
Nuro Inc., Series C, Private Placement		10/30/2020			940,662			672,012		0.02%
Nuro Inc., Series D		10/29/2021			547,033			162,700		0.00%*
Rappi Inc., Series E, Private Placement		9/8/2020			492,486			742,526		0.02%
Redwood Materials Inc., Series C, Private Placement		5/28/2021			1,110,190			1,117,974		0.03%
Sila Nanotechnologies Inc., Series F, Private Placement		1/7/2021			878,780			431,802		0.01%
Stripe Inc., Class B Shares, Private Placement		12/17/2019			313,988			438,463		0.01%
Waymo LLC, Series A2, Private Placement		5/8/2020			819,946			431,710		0.01%
Total							$	11,879,235		0.30%

Position represents less than 0.005%

Abbreviations used in this schedule:

ADR

— American Depositary Receipts

LLC

— Limited Liability Company

PLC

— Public Limited Company

REIT

— Real Estate Investment Trust

Summary of Investments by Security Sector^

	Consumer Non-cyclical					23.1%
	Technology					20.2
	Financial					17.1
	Communications					11.8
	Consumer Cyclical					9.5
	Industrial					6.7
	Energy					6.0
	Utilities					1.4
	Basic Materials					1.4
	Exchange Traded Funds (ETFs)					1.6
	Short-Term Investments					1.2
						100.0%

As a percentage of total investments.

At August 31, 2023, Destinations Large Cap Equity Fund had open exchange traded futures contracts as described below.

The unrealized appreciation on the open contracts reflected in the accompanying financial statements 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 September Futures		174		9/23		$	3,804,374		$	3,928,920		$	124,546

At August 31, 2023, Destinations Large Cap Equity Fund had deposited cash of $59,517 with a broker or brokers as margin collateral on open exchange traded futures contracts.

Currency Abbreviations used in this schedule:

EUR

— Euro

GBP

— British Pound

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund

Shares/Units		Security	Value
COMMON STOCKS – 92.6%
BASIC MATERIALS – 4.5%
Chemicals – 3.1%
	48,100	Ashland Inc.		$	4,166,903
	117,072	Axalta Coating Systems Ltd.*			3,313,138
	24,482	Cabot Corp.			1,773,966
	62,050	Ingevity Corp.*			3,343,874
	14,664	Innospec Inc.			1,575,207
	154,809	Livent Corp.*			3,323,749
	43,200	PPG Industries Inc.			6,124,032
	75,749	Valvoline Inc.			2,608,796
		Total Chemicals			26,229,665
Iron/Steel – 0.6%
	93,518	ATI Inc.*			4,239,171
	5,603	Carpenter Technology Corp.			350,916
		Total Iron/Steel			4,590,087
Mining – 0.8%
	17,186	Cameco Corp.			635,882
	103,200	Freeport-McMoRan Inc.			4,118,712
	459,554	Uranium Energy Corp.*			1,985,273
		Total Mining			6,739,867
		TOTAL BASIC MATERIALS			37,559,619
COMMUNICATIONS – 2.5%
Internet – 1.0%
	32,438	Couchbase Inc.*			554,690
	143,853	Eventbrite Inc., Class A Shares*			1,457,231
	86,652	Gambling.com Group Ltd.*			1,228,725
	98,374	Magnite Inc.*			811,586
	16,504	Overstock.com Inc.*			430,919
	75,877	Perion Network Ltd.*			2,518,358
	91,100	Upwork Inc.*			1,349,191
		Total Internet			8,350,700
Media – 0.2%
	79,116	TEGNA Inc.			1,307,787
	2,051	World Wrestling Entertainment Inc., Class A Shares			198,024
		Total Media			1,505,811
Telecommunications – 1.3%
	12,234	Aviat Networks Inc.*			431,126
	65,261	Credo Technology Group Holding Ltd.*			1,074,196
	58,277	Extreme Networks Inc.*			1,599,704
	411,613	Harmonic Inc.*			4,396,027
	2,816	Iridium Communications Inc.			137,843
	357,219	Viavi Solutions Inc.*			3,732,939
		Total Telecommunications			11,371,835
		TOTAL COMMUNICATIONS			21,228,346

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
CONSUMER CYCLICAL – 8.2%
Airlines – 0.1%
	71,826	Sun Country Airlines Holdings Inc.*		$	1,069,489
Apparel – 0.9%
	12,962	Carter’s Inc.			927,690
	12,877	Oxford Industries Inc.			1,300,448
	4,333	Skechers USA Inc., Class A Shares*			217,993
	65,275	Steven Madden Ltd.			2,251,988
	67,567	Urban Outfitters Inc.*			2,243,900
		Total Apparel			6,942,019
Auto Manufacturers – 0.5%
	68,629	Blue Bird Corp.*			1,499,544
	109,179	Wabash National Corp.			2,461,987
		Total Auto Manufacturers			3,961,531
Auto Parts & Equipment – 0.8%
	29,224	Dorman Products Inc.*			2,411,272
	16,265	Gentherm Inc.*			979,316
	98,811	Goodyear Tire & Rubber Co.*			1,275,650
	2,085	Visteon Corp.*			290,378
	31,667	XPEL Inc.*			2,637,861
		Total Auto Parts & Equipment			7,594,477
Distribution/Wholesale – 0.1%
	12,277	Core & Main Inc., Class A Shares*			403,177
	77,115	Hudson Technologies Inc.*			930,007
	2,444	SiteOne Landscape Supply Inc.*			418,388
		Total Distribution/Wholesale			1,751,572
Entertainment – 0.1%
	181,960	Genius Sports Ltd.*			1,208,214
Food Service – 0.2%
	64,908	Sovos Brands Inc.*			1,453,939
Home Builders – 0.7%
	33,897	Beazer Homes USA Inc.*			993,521
	19,402	Century Communities Inc.			1,440,599
	21,066	Installed Building Products Inc.			3,048,882
	1,074	Meritage Homes Corp.			149,329
	2,310	Skyline Champion Corp.*			164,634
		Total Home Builders			5,796,965
Home Furnishings – 0.2%
	155,654	Arhaus Inc., Class A Shares*			1,540,975
Leisure Time – 1.2%
	245,691	OneSpaWorld Holdings Ltd.*			2,810,705
	140,171	Topgolf Callaway Brands Corp.*			2,444,582
	137,902	Xponential Fitness Inc., Class A Shares*			2,986,957

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
CONSUMER CYCLICAL – (continued)
Leisure Time – (continued)
	26,035	YETI Holdings Inc.*		$	1,300,448
		Total Leisure Time			9,542,692
Retail – 3.4%
	39,858	Abercrombie & Fitch Co., Class A Shares*			2,142,368
	102,439	American Eagle Outfitters Inc.			1,737,365
	27,900	Best Buy Co., Inc.			2,132,955
	3,084	Cava Group Inc.*(a)			136,960
	48,094	Cheesecake Factory Inc.			1,531,794
	79,236	First Watch Restaurant Group Inc.*			1,514,992
	2,611	Freshpet Inc.*			197,157
	28,400	Genuine Parts Co.			4,365,932
	12,806	GMS Inc.*			887,968
	36,755	Kura Sushi USA Inc., Class A Shares*			3,211,284
	17,404	Murphy USA Inc.			5,528,207
	2,954	Ollie’s Bargain Outlet Holdings Inc.*			227,694
	5,484	Savers Value Village Inc.*			135,729
	35,000	Target Corp.			4,429,250
	1,589	Texas Roadhouse Inc., Class A Shares			165,415
	609	Wingstop Inc.			97,830
		Total Retail			28,442,900
		TOTAL CONSUMER CYCLICAL			69,304,773
CONSUMER NON-CYCLICAL – 25.1%
Beverages – 1.9%
	17,402	Celsius Holdings Inc.*			3,411,488
	43,630	Duckhorn Portfolio Inc.*			542,757
	126,600	Keurig Dr Pepper Inc.			4,260,090
	34,709	MGP Ingredients Inc.			4,161,609
	117,262	Vita Coco Co., Inc.*			3,317,342
		Total Beverages			15,693,286
Biotechnology – 4.7%
	53,436	89bio Inc.*			915,893
	310,622	ADMA Biologics Inc.*			1,195,895
	37,597	Aerovate Therapeutics Inc.*(a)			597,416
	1,949	Apellis Pharmaceuticals Inc.*			82,267
	52,452	Apogee Therapeutics Inc.*			1,203,249
	79,375	Astria Therapeutics Inc.*			706,438
	2,676	Axsome Therapeutics Inc.*			216,221
	4,946	Biohaven Ltd.*			90,462
	49,478	Biomea Fusion Inc.*(a)			834,694
	187,200	Crinetics Pharmaceuticals Inc.*			3,242,304
	60,369	Day One Biopharmaceuticals Inc.*			814,378
	200,622	Dynavax Technologies Corp.*			2,880,932

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
CONSUMER NON-CYCLICAL – (continued)
Biotechnology – (continued)
	3,609	Halozyme Therapeutics Inc.*		$	153,599
	75,280	Ideaya Biosciences Inc.*			2,210,221
	178,105	ImmunoGen Inc.*			2,821,183
	664	Karuna Therapeutics Inc.*			124,673
	62,302	Kiniksa Pharmaceuticals Ltd., Class A Shares*			1,073,463
	2,136	Krystal Biotech Inc.*			265,889
	36,761	Mineralys Therapeutics Inc.*			472,011
	54,794	NeoGenomics Inc.*			823,554
	92,549	Nuvalent Inc., Class A Shares*			4,217,458
	26,970	REVOLUTION Medicines Inc.*			916,171
	49,173	SpringWorks Therapeutics Inc.*			1,385,695
	92,474	Structure Therapeutics Inc., ADR*(a)			2,606,842
	83,220	Terns Pharmaceuticals Inc.*			438,569
	3,546	Ultragenyx Pharmaceutical Inc.*			130,457
	81,152	Ventyx Biosciences Inc.*			2,718,592
	51,088	Veracyte Inc.*			1,348,723
	150,445	Xenon Pharmaceuticals Inc.*			5,864,346
		Total Biotechnology			40,351,595
Commercial Services – 4.5%
	259,663	Arlo Technologies Inc.*			2,536,908
	38,700	Equifax Inc.			7,999,290
	94,504	Flywire Corp.*			3,267,948
	782	FTI Consulting Inc.*			145,311
	29,300	Global Payments Inc.			3,712,017
	86,434	Huron Consulting Group Inc.*			8,639,078
	52,112	Korn Ferry			2,656,670
	173,895	Performant Financial Corp.*			408,653
	109,648	Remitly Global Inc.*			2,757,647
	1,750	Shift4 Payments Inc., Class A Shares*			99,383
	22,102	Stride Inc.*			939,114
	8,400	United Rentals Inc.			4,002,936
	4,392	WillScot Mobile Mini Holdings Corp.*			180,160
	230,409	WW International Inc.*			2,237,271
		Total Commercial Services			39,582,386
Cosmetics/Personal Care – 1.6%
	53,513	elf Beauty Inc.*			7,422,788
	1,618	Inter Parfums Inc.			226,083
	250,800	Kenvue Inc.			5,780,940
		Total Cosmetics/Personal Care			13,429,811
Food – 2.2%
	86,610	Hain Celestial Group Inc.*			917,200
	80,073	Hostess Brands Inc., Class A Shares*			2,280,479

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
CONSUMER NON-CYCLICAL – (continued)
Food – (continued)
	28,972	Ingredion Inc.		$	2,981,509
	62,200	Kroger Co.			2,885,458
	10,848	Lancaster Colony Corp.			1,791,981
	50,537	Performance Food Group Co.*			3,139,864
	98,612	Real Good Food Co., Inc., Class A Shares*			388,531
	82,620	TreeHouse Foods Inc.*			3,843,482
		Total Food			18,228,504
Healthcare-Products – 4.8%
	205,063	Alphatec Holdings Inc.*			3,352,780
	1,532	AtriCure Inc.*			69,170
	35,434	Avita Medical Inc.*			577,574
	2,363	Axonics Inc.*			135,400
	36,885	Cutera Inc.*			419,751
	98,505	EDAP TMS SA, ADR*			792,965
	76,666	Envista Holdings Corp.*			2,454,845
	18,971	Establishment Labs Holdings Inc.*			1,145,279
	3,999	Glaukos Corp.*			300,485
	4,998	Inspire Medical Systems Inc.*			1,133,946
	81,220	Integra LifeSciences Holdings Corp.*			3,455,099
	18,170	LeMaitre Vascular Inc.			1,050,408
	4,579	Natera Inc.*			268,925
	42,523	NuVasive Inc.*			1,690,289
	29,716	PROCEPT BioRobotics Corp.*			1,013,613
	26,222	QuidelOrtho Corp.*			2,159,644
	64,600	Revvity Inc.			7,560,138
	73,450	RxSight Inc.*			2,130,785
	71,357	Tactile Systems Technology Inc.*			1,352,215
	58,794	TransMedics Group Inc.*			3,858,650
	70,572	Treace Medical Concepts Inc.*			1,097,395
	37,400	Zimmer Biomet Holdings Inc.			4,455,088
		Total Healthcare-Products			40,474,444
Healthcare-Services – 1.9%
	33,583	Amedisys Inc.*			3,148,406
	67,371	Encompass Health Corp.			4,786,036
	17,200	Humana Inc.			7,940,036
		Total Healthcare-Services			15,874,478
Household Products/Wares – 1.1%
	30,100	Avery Dennison Corp.			5,670,238
	21,800	Clorox Co.			3,410,610
		Total Household Products/Wares			9,080,848

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
CONSUMER NON-CYCLICAL – (continued)
Pharmaceuticals – 2.4%
	97,335	ACELYRIN Inc.*		$	2,465,496
	11,317	BellRing Brands Inc.*			469,656
	71,221	Harrow Health Inc.*			1,080,423
	55,073	Ironwood Pharmaceuticals Inc., Class A Shares*			484,642
	71,903	KalVista Pharmaceuticals Inc.*			780,148
	93,778	Merus NV*			2,097,814
	43,292	Morphic Holding Inc.*			2,384,523
	42,000	PetIQ Inc., Class A Shares*			801,360
	84,764	Prestige Consumer Healthcare Inc.*			4,944,284
	31,104	Rhythm Pharmaceuticals Inc.*			809,015
	58,642	Vaxcyte Inc.*			3,044,693
		Total Pharmaceuticals			19,362,054
		TOTAL CONSUMER NON-CYCLICAL			212,077,406
ENERGY – 5.0%
Energy-Alternate Sources – 0.3%
	54,975	Fluence Energy Inc., Class A Shares*			1,448,591
	38,575	Green Plains Inc.*			1,197,368
		Total Energy-Alternate Sources			2,645,959
Oil & Gas – 3.2%
	81,800	Chesapeake Energy Corp.			7,215,578
	49,576	Civitas Resources Inc.			4,076,139
	122,925	Diamond Offshore Drilling Inc.*			1,827,895
	55,500	Hess Corp.			8,574,750
	4,280	Noble Corp. PLC			225,727
	326,843	Permian Resources Corp., Class A Shares			4,634,634
	35,582	Transocean Ltd.*			291,061
	3,585	Weatherford International PLC*			317,344
		Total Oil & Gas			27,163,128
Oil & Gas Services – 1.5%
	80,400	Baker Hughes Co., Class A Shares			2,909,676
	104,216	ChampionX Corp.			3,761,155
	103,823	Oceaneering International Inc.*			2,366,126
	28,463	TechnipFMC PLC			541,936
	38,547	Tidewater Inc.*			2,506,711
		Total Oil & Gas Services			12,085,604
		TOTAL ENERGY			41,894,691
FINANCIAL – 17.2%
Banks – 5.2%
	69,376	Bancorp Inc.*			2,546,793
	18,548	City Holding Co.			1,694,545
	194,348	Columbia Banking System Inc.			3,980,247
	5,200	First Citizens BancShares Inc., Class A Shares			7,074,080

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
FINANCIAL – (continued)
Banks – (continued)
	137,237	First Interstate BancSystem Inc., Class A Shares		$	3,555,811
	54,700	Independent Bank Corp.			2,954,894
	35,593	National Bank Holdings Corp., Class A Shares			1,122,603
	233,004	Old National Bancorp			3,555,641
	50,066	Pinnacle Financial Partners Inc.			3,332,393
	14,457	Triumph Financial Inc.*			928,573
	84,583	Univest Financial Corp.			1,521,648
	116,000	US Bancorp			4,237,480
	328,753	Valley National Bancorp			3,017,953
	57,728	Wintrust Financial Corp.			4,480,270
		Total Banks			44,002,931
Diversified Financial Services – 2.0%
	44,900	Capital One Financial Corp.			4,597,311
	1,202	Evercore Inc., Class A Shares			168,340
	97,684	FTAI Aviation Ltd.			3,610,401
	133,000	Jefferies Financial Group Inc.			4,746,770
	42,400	Raymond James Financial Inc.			4,434,616
		Total Diversified Financial Services			17,557,438
Equity Real Estate Investment Trusts (REITs) – 4.2%
	145,400	American Homes 4 Rent, Class A Shares			5,240,216
	164,100	Americold Realty Trust Inc.			5,521,965
	367,475	Chimera Investment Corp.			2,223,224
	97,141	Corporate Office Properties Trust			2,514,009
	55,000	Extra Space Storage Inc.			7,077,400
	69,867	National Storage Affiliates Trust			2,347,531
	27,000	SBA Communications Corp., Class A Shares			6,062,310
	113,016	STAG Industrial Inc.			4,128,474
		Total Equity Real Estate Investment Trusts (REITs)			35,115,129
Insurance – 4.7%
	79,100	Allstate Corp.			8,527,771
	72,000	Fidelity National Financial Inc.			2,980,800
	48,337	First American Financial Corp.			2,981,426
	23,538	Hanover Insurance Group Inc.			2,511,975
	74,100	Hartford Financial Services Group Inc.			5,321,862
	1,781	Kinsale Capital Group Inc.			709,960
	145,646	MGIC Investment Corp.			2,560,457
	64,035	NMI Holdings Inc., Class A Shares*			1,832,682
	21,879	Primerica Inc.			4,396,804
	38,113	Skyward Specialty Insurance Group Inc.*			926,908
	32,700	Willis Towers Watson PLC			6,761,052
		Total Insurance			39,511,697

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
FINANCIAL – (continued)
Private Equity – 0.6%
	79,000	KKR & Co., Inc.		$	4,961,990
Real Estate – 0.5%
	12,127	McGrath RentCorp			1,226,040
	385,397	Newmark Group Inc., Class A Shares			2,732,465
		Total Real Estate			3,958,505
		TOTAL FINANCIAL			145,107,690
INDUSTRIAL – 17.5%
Aerospace/Defense – 2.7%
	47,121	AAR Corp.*			2,902,654
	25,100	General Dynamics Corp.			5,688,664
	33,246	Hexcel Corp.			2,436,932
	87,200	Howmet Aerospace Inc.			4,313,784
	36,300	L3Harris Technologies Inc.			6,464,667
	911	Moog Inc., Class A Shares			105,822
		Total Aerospace/Defense			21,912,523
Building Materials – 1.8%
	5,188	AAON Inc.			327,155
	102,991	AZEK Co., Inc., Class A Shares*			3,502,724
	22,585	Hayward Holdings Inc.*			334,258
	47,239	Knife River Corp.*			2,430,919
	30,574	Masonite International Corp.*			3,140,255
	93,129	Modine Manufacturing Co.*			4,432,009
	1,462	Simpson Manufacturing Co., Inc.			233,569
	4,102	SPX Technologies Inc.*			324,140
	6,200	Summit Materials Inc., Class A Shares*			231,942
	37,674	Tecnoglass Inc.			1,468,156
		Total Building Materials			16,425,127
Electrical Components & Equipment – 0.8%
	25,986	Belden Inc.			2,440,085
	40,400	Emerson Electric Co.			3,969,300
		Total Electrical Components & Equipment			6,409,385
Electronics – 1.8%
	170,693	Applied Optoelectronics Inc.*(a)			2,350,443
	1,400	Atkore Inc.*			215,558
	1,787	Badger Meter Inc.			296,785
	56,259	Camtek Ltd.*			3,392,418
	11,039	Celestica Inc.*			257,319
	180,894	Enovix Corp.*(a)			2,492,719
	101,153	Evolv Technologies Holdings Inc.*			707,059
	48,600	Fortive Corp.			3,832,110
	21,032	National Instruments Corp.			1,253,507

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
INDUSTRIAL – (continued)
Electronics – (continued)
	5,408	NEXTracker Inc., Class A Shares*		$	227,785
		Total Electronics			15,025,703
Engineering & Construction – 1.7%
	3,075	Arcosa Inc.			240,526
	2,457	Comfort Systems USA Inc.			453,488
	23,591	EMCOR Group Inc.			5,290,282
	4,997	Fluor Corp.*			174,845
	16,818	MYR Group Inc.*			2,389,333
	79,558	Primoris Services Corp.			2,813,966
	44,950	Sterling Infrastructure Inc.*			3,720,062
		Total Engineering & Construction			15,082,502
Environmental Control – 1.0%
	25,429	Clean Harbors Inc.*			4,306,147
	67,615	Energy Recovery Inc.*			1,837,776
	98,085	Enviri Corp.*			730,733
	44,713	Montrose Environmental Group Inc.*			1,718,768
	1,436	Tetra Tech Inc.			225,955
		Total Environmental Control			8,819,379
Hand/Machine Tools – 0.6%
	62,718	Enerpac Tool Group Corp., Class A Shares			1,643,212
	1,659	MSA Safety Inc.			303,066
	19,143	Regal Rexnord Corp.			3,104,803
		Total Hand/Machine Tools			5,051,081
Machinery-Construction & Mining – 0.5%
	52,897	BWX Technologies Inc.			3,901,683
	1,893	Terex Corp.			114,735
		Total Machinery-Construction & Mining			4,016,418
Machinery-Diversified – 2.3%
	2,652	Applied Industrial Technologies Inc.			409,389
	59,646	Cactus Inc., Class A Shares			3,181,518
	3,257	Chart Industries Inc.*			588,149
	40,694	CIRCOR International Inc.*			2,266,249
	32,800	Dover Corp.			4,864,240
	2,946	ESAB Corp.			212,613
	152,696	Gates Industrial Corp. PLC*			1,875,107
	21,700	IDEX Corp.			4,912,880
		Total Machinery-Diversified			18,310,145
Metal Fabricate/Hardware – 0.8%
	27,727	Standex International Corp.			4,259,699
	11,276	Valmont Industries Inc.			2,858,466
		Total Metal Fabricate/Hardware			7,118,165

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
INDUSTRIAL – (continued)
Miscellaneous Manufacturers – 2.3%
	1,843	Axon Enterprise Inc.*		$	392,393
	13,900	Carlisle Cos., Inc.			3,655,978
	27,789	EnPro Industries Inc.			3,790,142
	680	Fabrinet*			109,324
	56,820	Federal Signal Corp.			3,463,179
	44,290	ITT Inc.			4,529,981
	8,800	Parker-Hannifin Corp.			3,668,720
		Total Miscellaneous Manufacturers			19,609,717
Packaging & Containers – 0.5%
	96,645	O-I Glass Inc.*			1,919,370
	57,825	Silgan Holdings Inc.			2,609,642
		Total Packaging & Containers			4,529,012
Transportation – 0.7%
	89,900	Knight-Swift Transportation Holdings Inc., Class A Shares			4,928,318
	1,142	Saia Inc.*			486,720
		Total Transportation			5,415,038
		TOTAL INDUSTRIAL			147,724,195
TECHNOLOGY – 7.2%
Computers – 1.7%
	10,671	CACI International Inc., Class A Shares*			3,500,195
	997	CyberArk Software Ltd.*			165,542
	75,300	Dell Technologies Inc., Class C Shares			4,234,872
	75,995	ExlService Holdings Inc.*			2,221,334
	6,485	Integral Ad Science Holding Corp.*			92,541
	58,746	Lumentum Holdings Inc.*			3,179,921
	3,236	Super Micro Computer Inc.*			890,159
		Total Computers			14,284,564
Semiconductors – 3.6%
	119,138	Aehr Test Systems*			6,077,229
	22,897	Axcelis Technologies Inc.*			4,399,658
	1,621	Lattice Semiconductor Corp.*			157,658
	88,700	Marvell Technology Inc.			5,166,775
	1,949	Onto Innovation Inc.*			270,872
	44,700	Power Integrations Inc.			3,755,694
	4,472	Rambus Inc.*			252,534
	13,130	Silicon Laboratories Inc.*			1,770,712
	98,837	SkyWater Technology Inc.*(a)			662,208
	51,400	Skyworks Solutions Inc.			5,589,236
	86,254	SMART Global Holdings Inc.*			2,227,941
		Total Semiconductors			30,330,517

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
TECHNOLOGY – (continued)
Software – 1.9%
	113,131	ACV Auctions Inc., Class A Shares*		$	1,901,732
	41,727	Agilysys Inc.*			2,943,631
	1,818	Appfolio Inc., Class A Shares*			350,456
	68,287	Digi International Inc.*			2,279,420
	1,458	Duolingo Inc., Class A Shares*			214,559
	183,627	Fastly Inc., Class A Shares*			4,368,486
	2,048	Five9 Inc.*			148,214
	3,281	Monday.com Ltd.*			582,181
	24,918	PDF Solutions Inc.*			905,520
	36,191	Phreesia Inc.*			1,030,358
	6,506	Procore Technologies Inc.*			439,480
	1,637	SPS Commerce Inc.*			304,695
	117,155	Yext Inc.*			1,026,278
		Total Software			16,495,010
		TOTAL TECHNOLOGY			61,110,091
UTILITIES – 5.4%
Electric – 5.2%
	73,300	Ameren Corp.			5,810,491
	35,527	Black Hills Corp.			1,953,985
	205,700	CenterPoint Energy Inc.			5,736,973
	99,600	CMS Energy Corp.			5,596,524
	153,400	Exelon Corp.			6,154,408
	28,598	IDACORP Inc.			2,740,833
	98,156	Portland General Electric Co.			4,305,122
	237,800	PPL Corp.			5,925,976
	99,800	Xcel Energy Inc.			5,701,574
		Total Electric			43,925,886
Gas – 0.2%
	25,830	Spire Inc.			1,508,730
		TOTAL UTILITIES			45,434,616
		TOTAL COMMON STOCKS (Cost – $648,874,560)			781,441,427
EXCHANGE TRADED FUNDS (ETFs) – 4.8%
	185,491	iShares Russell 2000(a)			34,985,457
	77,008	iShares Russell Mid-Capital			5,641,606
		TOTAL EXCHANGE TRADED FUNDS (ETFs) (Cost – $39,826,152)			40,627,063
		TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS (Cost – $688,700,712)			822,068,490

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (concluded)

Face Amount			Security	Value
SHORT-TERM INVESTMENTS – 2.7%
TIME DEPOSITS – 2.7%
	$	251,610	ANZ National Bank – London, 4.680% due 9/1/23		$	251,610
		12,284,040	Citibank – New York, 4.680% due 9/1/23			12,284,040
		9,799,298	JPMorgan Chase & Co. – New York, 4.680% due 9/1/23			9,799,298
			TOTAL TIME DEPOSITS (Cost – $22,334,948)			22,334,948

Shares/Units
INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 2.6%
MONEY MARKET FUND – 2.6%
	22,079,194	Federated Government Obligations Fund, Premier Class, 5.165%(b) (Cost – $22,079,194)		22,079,194
		TOTAL INVESTMENTS – 102.7% (Cost – $733,114,854)		866,482,632
		Liabilities in Excess of Other Assets – (2.7)%		(22,943,395)
		TOTAL NET ASSETS – 100.0%	$	843,539,237

Non-income producing security.

(a)

All or a portion of this security is on loan (See Note 5).

(b)

Represents investment of collateral received from securities lending transactions.

Abbreviations used in this schedule:

ADR

— American Depositary Receipts

PLC

— Public Limited Company

Summary of Investments by Security Sector^

	Consumer Non-cyclical					24.5%
	Industrial					17.0
	Financial					16.8
	Consumer Cyclical					8.0
	Technology					7.1
	Utilities					5.2
	Energy					4.8
	Basic Materials					4.3
	Communications					2.4
	Exchange Traded Funds (ETFs)					4.7
	Short-Term Investments					2.6
	Money Market Fund					2.6
						100.0%

As a percentage of total investments.

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations International Equity Fund

Shares/Units		Security	Value
COMMON STOCKS – 87.9%
Argentina – 0.1%
	281,990	Despegar.com Corp.*		$	2,241,820
Australia – 1.0%
	126,979	AGL Energy Ltd.			911,088
	495,810	Coronado Global Resources Inc.(a)			506,715
	63,360	Eagers Automotive Ltd.			655,023
	261,840	GrainCorp Ltd., Class A Shares			1,236,496
	234,802	Helia Group Ltd.			589,498
	70,741	JB Hi-Fi Ltd.			2,083,018
	990,155	Johns Lyng Group Ltd.			4,110,528
	536,802	Metcash Ltd.			1,293,691
	853,968	Perenti Ltd.*			585,563
	88,552	Pro Medicus Ltd.			4,196,586
	67,544	Super Retail Group Ltd.			566,674
	388,647	Woodside Energy Group Ltd.			9,329,992
		Total Australia			26,064,872
Austria – 0.1%
	107,709	Raiffeisen Bank International AG*			1,547,326
Belgium – 0.0%
	134,073	Proximus SADP			1,012,860
Bermuda – 0.1%
	174,082	Hiscox Ltd.			2,194,408
Brazil – 1.8%
	148,136	Aeris Industria E Comercio de Equipamentos Para Geracao de Energia SA*			28,428
	56,726	Afya Ltd., Class A Shares*			854,861
	403,822	B3 SA – Brasil Bolsa Balcao			1,054,747
	216,800	Bradespar SA			985,375
	253,400	Compania de Saneamento de Minas Gerais Copasa MG*			917,285
	108,600	Compania de Saneamento do Parana*			496,887
	866,985	Inter & Co., Inc.*			3,520,200
	497,431	Localiza Rent a Car SA			6,355,549
	1,683,453	Lojas Renner SA			5,451,226
	379,500	Metalurgica Gerdau SA			906,127
	111,547	NU Holdings Ltd., Class A Shares*			764,097
	240,557	Petroleo Brasileiro SA, Class A Shares, ADR			3,112,808
	378,712	Raia Drogasil SA			2,102,255

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations International Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
Brazil – (continued)
	94,956	StoneCo Ltd., Class A Shares*		$	1,164,160
	576,843	Suzano SA			5,843,705
	1,230,300	TOTVS SA			6,894,094
	216,800	XP Inc., Class A Shares*			5,493,712
		Total Brazil			45,945,516
Canada – 4.7%
	348,374	AGF Management Ltd., Class B Shares			2,049,714
	79,331	Agnico Eagle Mines Ltd.			3,852,062
	38,880	Canadian National Railway Co.			4,378,277
	56,826	Canadian Pacific Kansas City Ltd.			4,510,848
	41,061	Canfor Corp.*			631,474
	67,297	Celestica Inc.*			1,568,869
	2,323	Constellation Software Inc.			4,771,606
	47,937	Definity Financial Corp.			1,319,048
	22,370	Descartes Systems Group Inc.*			1,676,855
	62,683	Element Fleet Management Corp.			963,533
	506,200	Enbridge Inc.			17,772,445
	51,281	EQB Inc.(b)			2,952,301
	28,049	Finning International Inc.			880,787
	108,338	Franco-Nevada Corp.			15,607,664
	32,606	Interfor Corp., Class Common S Shares*			550,190
	42,959	National Bank of Canada			2,993,968
	115,828	Parex Resources Inc.			2,191,920
	78,649	Russel Metals Inc.			2,339,330
	59,849	Shopify Inc., Class A Shares*			3,979,360
	826,529	Suncor Energy Inc.			27,997,508
	17,578	TECSYS Inc.(b)			376,095
	38,899	TELUS International CDA Inc.*			341,719
	276,328	TMX Group Ltd.			6,114,718
	60,400	Vermilion Energy Inc.			879,716
	25,781	Waste Connections Inc.			3,531,739
	96,722	Wheaton Precious Metals Corp.			4,219,060
		Total Canada			118,450,806

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations International Equity Fund (continued)

��

Shares/Units		Security	Value
COMMON STOCKS – (continued)
China – 3.6%
	135,761	Alibaba Group Holding Ltd., ADR*		$	12,612,197
	13,309	Baidu Inc., ADR*			1,900,924
	808,437	China Mengniu Dairy Co., Ltd.*			2,733,210
	607,991	Estun Automation Co., Ltd., Class A Shares(c)			1,936,402
	481,190	FinVolution Group, ADR			2,415,574
	266,558	Full Truck Alliance Co., Ltd., ADR*			1,785,939
	228,268	Glodon Co., Ltd., Class A Shares(c)			769,236
	320,346	Hello Group Inc., ADR			2,764,586
	235,300	Inner Mongolia Yili Industrial Group Co., Ltd., Class A Shares(c)			840,264
	319,350	JD Health International Inc.*(a)			1,712,126
	18,569	JD.com Inc., ADR			616,677
	5,570	JD.com Inc., Class A Shares			92,391
	211,049	Jiangsu Hengli Hydraulic Co., Ltd., Class A Shares(c)			1,802,840
	77,117	Kanzhun Ltd., ADR*			1,141,332
	3,621,822	Kingdee International Software Group Co., Ltd.*			5,581,877
	416,762	Kingsoft Corp., Ltd.			1,665,701
	46,379	Kweichow Moutai Co., Ltd., Class A Shares(c)			11,751,404
	456,491	Lufax Holding Ltd., ADR			552,354
	240,254	Midea Group Co., Ltd., Class A Shares(c)			1,864,143
	1,311,421	NARI Technology Co., Ltd., Class A Shares(c)			4,291,500
	362,100	Shandong Pharmaceutical Glass Co., Ltd., Class A Shares(c)			1,312,446
	299,300	Shenzhen Inovance Technology Co., Ltd., Class A Shares(c)			2,803,648
	33,770	Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Class A Shares(c)			1,252,377
	311,265	Shenzhou International Group Holdings Ltd.			3,178,863
	126,000	Silergy Corp.			1,132,091
	200,454	Tencent Holdings Ltd.			8,326,462
	21,066	Tencent Holdings Ltd., ADR(b)(c)			872,343
	276,424	Venustech Group Inc., Class A Shares(c)			1,107,768
	34,086	Wuliangye Yibin Co., Ltd., Class A Shares(c)			728,409
	144,313	Yum China Holdings Inc.			7,737,734
	158,008	Yunnan Baiyao Group Co., Ltd., Class A Shares(c)			1,185,650
	39,367	Zai Lab Ltd., ADR*			1,002,678
		Total China			89,471,146

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations International Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
Cyprus – 0.0%
	16,006	TCS Group Holding PLC, GDR*(c)@		$	2
Denmark – 0.7%
	20,004	D/S Norden AS			961,519
	6,344	Genmab AS*			2,430,818
	30,828	Jyske Bank AS, Class Registered Shares*			2,194,246
	32,456	Novo Nordisk AS, ADR			6,024,483
	66,585	Novozymes AS, Class B Shares			2,889,924
	13,047	Royal Unibrew AS			1,141,935
	40,879	Sydbank AS			1,921,306
		Total Denmark			17,564,231
Finland – 0.1%
	55,847	Musti Group OYJ*			1,235,773
	312,211	Outokumpu OYJ			1,451,042
	172,286	Talenom OYJ(b)			1,097,201
		Total Finland			3,784,016
France – 7.6%
	478,187	Accor SA			17,103,196
	124,800	Arkema SA			13,027,548
	17,796	Aubay			824,009
	54,209	Capgemini SE			10,075,753
	554,010	Cie Generale des Etablissements Michelin SCA			17,308,452
	234,203	Danone SA			13,647,689
	22,519	Dassault Aviation SA			4,420,454
	81,657	Dassault Systemes SE			3,229,270
	10,014	Esker SA			1,720,265
	34,726	EssilorLuxottica SA			6,524,629
	7,771	Kering SA			4,143,547
	130,501	Legrand SA			12,854,643
	12,628	L’Oreal SA			5,534,902
	12,151	LVMH Moet Hennessy Louis Vuitton SE			10,276,567
	54,191	Pernod Ricard SA			10,621,110
	60,493	Rexel SA			1,416,534
	29,404	Safran SA			4,713,290
	97,855	Schneider Electric SE			16,747,288

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations International Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
France – (continued)
	13,335	Teleperformance SE		$	1,845,506
	104,022	Thales SA			15,202,333
	212,078	TotalEnergies SE			13,335,554
	229,974	Veolia Environnement SA			7,169,825
		Total France			191,742,364
Germany – 6.5%
	6,224	Adesso SE			780,132
	21,782	adidas AG			4,356,300
	67,748	Allianz SE, Class Registered Shares			16,481,122
	14,604	Atoss Software AG			3,555,293
	292,673	BASF SE			14,843,807
	75,605	Bayer AG, Class Registered Shares			4,148,609
	38,640	Beiersdorf AG			5,060,350
	58,787	Daimler Truck Holding AG			2,069,701
	70,619	Deutsche Boerse AG			12,537,720
	325,868	Deutsche Telekom AG, Class Registered Shares			6,975,751
	260,952	DHL Group			12,191,375
	20,780	Elmos Semiconductor SE			1,505,186
	155,255	Evotec SE*			3,642,888
	99,865	GEA Group AG			3,941,638
	214,155	Henkel AG & Co. KGaA			16,429,913
	5,984	HOCHTIEF AG			640,106
	41,849	Infineon Technologies AG			1,498,168
	66,004	Kloeckner & Co. SE			563,809
	47,832	Knorr-Bremse AG			3,274,351
	27,571	LEG Immobilien SE*			1,991,039
	24,331	Mensch und Maschine Software SE			1,451,001
	7,769	Nagarro SE*(b)			585,527
	57,287	Nexus AG			3,503,383
	57,457	Puma SE			3,864,369
	37,408	Rheinmetall AG			10,193,256
	15,558	Salzgitter AG			458,971
	92,553	SAP SE			12,928,211
	9,283	Sartorius AG			3,793,096

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations International Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
Germany – (continued)
	32,051	Suedzucker AG		$	517,246
	37,050	Symrise AG, Class A Shares			3,863,738
	110,535	TAG Immobilien AG*			1,255,709
	114,310	Vonovia SE			2,739,724
	33,408	Wuestenrot & Wuerttembergische AG			556,410
	33,690	Zalando SE*(a)			1,049,520
		Total Germany			163,247,419
Greece – 0.1%
	201,523	Sarantis SA			1,690,383
Hong Kong – 2.3%
	1,188,410	AIA Group Ltd.			10,729,861
	6,804,500	BOC Hong Kong Holdings Ltd.			18,943,251
	513,142	Budweiser Brewing Co. APAC Ltd.(a)			1,115,566
	2,028,500	CK Hutchison Holdings Ltd.			11,063,798
	1,222,000	CLP Holdings Ltd.			9,565,627
	243,096	Galaxy Entertainment Group Ltd.*			1,605,452
	66,000	Hong Kong Exchanges & Clearing Ltd.			2,564,752
	576,500	Kerry Properties Ltd.			1,062,079
	97,488	Techtronic Industries Co., Ltd.			965,766
		Total Hong Kong			57,616,152
India – 6.2%
	108,821	Aarti Industries Ltd.			645,864
	40,992	Aarti Pharmalabs Ltd.*			196,200
	117,565	Aavas Financiers Ltd.*			2,323,000
	480,912	Axis Bank Ltd.			5,633,761
	126,233	Bajaj Finance Ltd.			10,931,711
	203,759	Berger Paints India Ltd.			1,775,415
	212,355	Bharti Airtel Ltd.			2,096,136
	86,831	Birlasoft Ltd.			535,117
	599,992	CESC Ltd.			604,746
	410,468	Cholamandalam Investment & Finance Co., Ltd.			5,554,605
	67,259	Cigniti Technologies Ltd.			653,140
	21,040	Divi’s Laboratories Ltd.			911,680
	22,006	Dixon Technologies India Ltd.*			1,331,482

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations International Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
India – (continued)
	64,973	Dr Lal PathLabs Ltd.		$	1,700,507
	927,490	Edelweiss Financial Services Ltd.			608,084
	79,846	Elecon Engineering Co., Ltd.			854,037
	303,121	Elgi Equipments Ltd.			1,799,332
	46,295	GMM Pfaudler Ltd.			881,480
	152,584	Godrej Consumer Products Ltd.*			1,855,833
	65,521	Godrej Properties Ltd.*			1,297,692
	643,584	HDFC Bank Ltd.			12,260,980
	75,061	HDFC Bank Ltd., ADR			4,677,051
	367,553	HDFC Life Insurance Co., Ltd.(a)			2,873,797
	182,842	Hindustan Unilever Ltd.			5,545,620
	350,145	ICICI Bank Ltd., ADR			8,112,860
	29,241	Info Edge India Ltd.			1,532,967
	97,533	Jio Financial Services Ltd.*			283,957
	1,319,532	JM Financial Ltd.			1,255,845
	154,873	Jubilant Foodworks Ltd.			960,063
	278,900	KPIT Technologies Ltd.			3,960,468
	123,274	Larsen & Toubro Ltd.			4,021,775
	92,273	LIC Housing Finance Ltd.			472,772
	43,078	Mahindra & Mahindra Ltd.			821,623
	50,059	Maruti Suzuki India Ltd.			6,053,131
	154,068	Max Financial Services Ltd.*			1,732,527
	97,193	Max Healthcare Institute Ltd.*			689,731
	72,342	Mold-Tek Packaging Ltd.			842,393
	58,964	Muthoot Finance Ltd.			898,020
	2,357,489	National Aluminium Co., Ltd.			2,677,332
	483,272	NCC Ltd.			1,008,611
	325,030	Nippon Life India Asset Management Ltd.(a)			1,225,469
	2,347,687	NTPC Ltd.			6,219,767
	11,405	Nuvama Wealth Management Ltd.*(c)(d)@			483,796
	1,179,538	Power Finance Corp., Ltd.			3,682,404
	274,623	Redington Ltd.			521,038
	101,986	Reliance Industries Ltd.			2,961,421
	122,945	SBI Life Insurance Co., Ltd.(a)			1,928,017
	30,214	SRF Ltd.			859,848

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations International Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
India – (continued)
	1,245,309	Star Health & Allied Insurance Co., Ltd.*		$	9,549,478
	39,420	Supreme Industries Ltd.			2,217,578
	79,703	Tarsons Products Ltd.*			496,085
	116,051	Tata Communications Ltd.			2,521,750
	19,660	Tata Consultancy Services Ltd.			799,483
	120,114	Tata Consumer Products Ltd.			1,214,863
	258,103	Titan Co., Ltd.			9,711,732
	42,738	Trent Ltd.			1,060,844
	145,481	Varun Beverages Ltd.			1,587,079
	435,678	Vijaya Diagnostic Centre Pvt Ltd.			2,755,551
	1,935,187	Zomato Ltd.*			2,302,202
		Total India			154,969,750
Indonesia – 0.7%
	17,495,200	Bank Central Asia Tbk PT			10,592,353
	7,434,129	Bank Rakyat Indonesia Persero Tbk PT			2,707,742
	724,000	Indo Tambangraya Megah Tbk PT			1,374,281
	26,438,600	Sarana Menara Nusantara Tbk PT			1,787,383
		Total Indonesia			16,461,759
Ireland – 1.4%
	1,881,401	AIB Group PLC			8,571,707
	658,829	Bank of Ireland Group PLC			6,570,075
	113,366	CRH PLC			6,514,188
	179,132	Experian PLC			6,250,142
	21,882	Kerry Group PLC, Class A Shares			2,043,495
	46,419	Ryanair Holdings PLC, ADR*			4,607,086
		Total Ireland			34,556,693
Israel – 0.2%
	336,552	Bezeq The Israeli Telecommunication Corp., Ltd.			455,432
	72,189	Nayax Ltd.*			1,625,484
	7,926	Nice Ltd., ADR*			1,543,985
	21,828	Rami Levy Chain Stores Hashikma Marketing 2006 Ltd.			1,262,933
		Total Israel			4,887,834

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations International Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
Italy – 2.0%
	55,637	Amplifon SpA		$	1,808,561
	356,025	Azimut Holding SpA			8,233,608
	318,914	Banca Mediolanum SpA			2,909,567
	708,073	Banco BPM SpA			3,390,725
	1,111,957	BPER Banca			3,348,530
	20,019	Buzzi SpA			599,561
	26,165	DiaSorin SpA			2,762,358
	43,523	Digital Value SpA			3,056,111
	2,298,355	Enel SpA			15,443,450
	147,249	Ermenegildo Zegna NV			2,205,790
	47,630	Gruppo MutuiOnline SpA			1,347,821
	193,751	Iveco Group NV*			1,921,549
	422,154	Unipol Gruppo SpA			2,350,869
		Total Italy			49,378,500
Japan – 13.7%
	53,200	Adastria Co., Ltd.			1,063,310
	33,800	Alfresa Holdings Corp.			578,932
	413,300	Asahi Group Holdings Ltd.			16,098,850
	140,922	Avant Group Corp.			1,365,730
	160,081	AZ-COM MARUWA Holdings Inc.			2,497,701
	46,740	Base Co., Ltd.			1,398,586
	81,400	Calbee Inc.			1,624,723
	484,900	Chiba Bank Ltd.			3,465,319
	150,500	Chugai Pharmaceutical Co., Ltd.			4,573,328
	96,000	Citizen Watch Co., Ltd.			588,806
	158,200	Credit Saison Co., Ltd.			2,472,921
	61,500	Daicel Corp.			513,330
	18,000	Daido Steel Co., Ltd.			744,275
	94,400	Daiichi Sankyo Co., Ltd.			2,798,898
	15,300	Daikin Industries Ltd.			2,639,295
	41,200	Daiwabo Holdings Co., Ltd.			834,962
	43,600	Disco Corp.			8,606,074
	60,200	EDION Corp.			605,894
	195,700	Electric Power Development Co., Ltd.			3,054,222

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations International Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
Japan – (continued)
	68,000	Ezaki Glico Co., Ltd.		$	1,794,160
	168,200	Fujikura Ltd.			1,392,173
	39,326	Funai Soken Holdings Inc.			728,112
	47,500	GungHo Online Entertainment Inc.			781,392
	242,700	Hachijuni Bank Ltd.			1,308,173
	27,000	Hanwa Co., Ltd.			859,093
	8,800	Hikari Tsushin Inc.			1,463,359
	48,310	Hirose Electric Co., Ltd.			5,844,256
	506,500	Honda Motor Co., Ltd.			16,338,663
	94,400	IDOM Inc.			508,597
	1,176	Invincible Investment Corp.			488,674
	43,300	JAFCO Group Co., Ltd.			555,096
	277,200	Japan Elevator Service Holdings Co., Ltd.			4,610,038
	112,846	JCR Pharmaceuticals Co., Ltd.			986,729
	99,600	JGC Holdings Corp.			1,329,935
	69,100	JTEKT Corp.			624,675
	135,600	Kansai Paint Co., Ltd.			2,222,937
	13,296	Keyence Corp.			5,529,082
	142,200	Kobe Steel Ltd.			1,784,359
	837,500	Koito Manufacturing Co., Ltd.			14,210,502
	580,100	Komatsu Ltd.			16,612,430
	11,100	Kose Corp.			925,444
	17,400	Lawson Inc.			830,224
	136,600	Lion Corp.			1,487,268
	17,300	Macnica Holdings Inc.			811,707
	591,100	Makita Corp.			16,254,975
	67,263	Management Solutions Co., Ltd.(b)			1,774,604
	621,900	Mebuki Financial Group Inc.			1,721,012
	38,500	Medipal Holdings Corp.			659,826
	766,600	MINEBEA MITSUMI Inc.			12,987,907
	1,022,900	Mitsubishi Electric Corp.			13,380,708
	990,100	Mitsubishi Motors Corp.			3,882,658
	56,500	Mitsui Fudosan Co., Ltd.			1,237,230
	117,900	m-up Holdings Inc.			1,206,624
	58,200	Murata Manufacturing Co., Ltd.			3,288,132

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations International Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
Japan – (continued)
	638,700	Nabtesco Corp.		$	12,085,995
	81,500	Nextage Co., Ltd.			1,833,757
	21,520	NexTone Inc.*			275,495
	72,800	NHK Spring Co., Ltd.			564,745
	3,598,500	Nippon Telegraph & Telephone Corp.			4,157,717
	52,500	Nishimatsuya Chain Co., Ltd.			606,075
	175,500	Nomura Research Institute Ltd.			5,037,324
	364,000	North Pacific Bank Ltd.			766,243
	32,300	NS United Kaiun Kaisha Ltd.			901,458
	2,154,400	NSK Ltd.			12,501,116
	298,800	Olympus Corp.			4,079,066
	45,900	Otsuka Holdings Co., Ltd.			1,748,798
	177,200	Outsourcing Inc.			1,386,421
	128,600	Persol Holdings Co., Ltd.			2,198,438
	265,200	Premium Group Co., Ltd.			2,967,494
	426,806	Prestige International Inc.			1,722,133
	126,304	Rakus Co., Ltd.			2,049,005
	54,200	Recruit Holdings Co., Ltd.			1,932,549
	1,461,000	Resona Holdings Inc.			7,742,413
	292,700	Rohto Pharmaceutical Co., Ltd.			7,624,496
	47,800	Sankyo Co., Ltd.			2,081,365
	36,900	Sanwa Holdings Corp.			561,170
	892	Sekisui House REIT Inc.			515,416
	119,400	Seven & i Holdings Co., Ltd.			4,901,123
	312,700	Shimadzu Corp.			9,191,418
	47,600	Shiseido Co., Ltd.			1,944,119
	363,396	SIGMAXYZ Holdings Inc.			4,077,630
	162,600	SKY Perfect JSAT Holdings Inc.			739,549
	14,200	SMC Corp.			6,866,375
	75,938	SMS Co., Ltd.			1,461,866
	170,700	Sojitz Corp.			3,667,870
	41,300	Sony Group Corp.			3,437,020
	84,600	Stanley Electric Co., Ltd.			1,484,288
	67,300	Strike Co., Ltd.			1,477,527
	56,300	Sumitomo Metal Mining Co., Ltd.			1,737,772

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations International Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
Japan – (continued)
	51,200	Sumitomo Rubber Industries Ltd.		$	539,850
	391,582	Systena Corp.			724,746
	33,300	Taiheiyo Cement Corp.			638,469
	37,400	Taisei Corp.			1,258,376
	76,900	Takashimaya Co., Ltd.			1,154,598
	13,100	Temairazu Inc.(b)			301,346
	123,900	Tokyo Steel Manufacturing Co., Ltd.			1,393,378
	83,800	Tokyo Tatemono Co., Ltd.			1,101,141
	191,500	Tokyu Fudosan Holdings Corp.			1,192,050
	702,600	Tosoh Corp.			9,093,321
	128,200	Toyo Suisan Kaisha Ltd.			5,293,027
	54,000	Toyo Tire Corp.			813,190
	28,400	Toyota Boshoku Corp.			537,183
	30,400	Transcosmos Inc.			664,907
	10,100	Yamato Kogyo Co., Ltd.			486,895
	143,500	Yokogawa Electric Corp.			2,825,565
	37,900	Yokohama Rubber Co., Ltd.			769,981
	1,039,400	Z Holdings Corp.			3,115,956
		Total Japan			344,175,135
Jersey, Channel Islands – 0.2%
	446,667	JTC PLC			3,942,675
Luxembourg – 0.1%
	41,447	Eurofins Scientific SE			2,545,134
	9,272	Tenaris SA			148,031
	4,648	Tenaris SA, ADR			148,411
		Total Luxembourg			2,841,576
Malaysia – 0.0%
	3,746,000	CTOS Digital Bhd			1,146,327
Mexico – 0.3%
	328,723	Grupo Mexico SAB de CV, Class B Shares			1,571,177
	402,384	Qualitas Controladora SAB de CV			3,165,457
	580,927	Wal-Mart de Mexico SAB de CV			2,290,116
		Total Mexico			7,026,750

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations International Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
Netherlands – 3.6%
	1,468	Adyen NV*(a)		$	1,223,112
	278,137	Akzo Nobel NV			22,581,342
	20,718	ASML Holding NV			13,629,310
	56,447	Euronext NV(a)			4,067,744
	25,616	Heineken NV			2,489,318
	1,311,846	ING Groep NV			18,593,457
	47,805	Koninklijke Philips NV			1,073,763
	138,572	Prosus NV*			9,548,331
	198,549	Randstad NV			11,627,781
	46,491	Wolters Kluwer NV			5,604,537
		Total Netherlands			90,438,695
Norway – 1.6%
	880,946	Aker BP ASA			23,923,285
	644,780	DNB Bank ASA			12,758,612
	219,311	Elkem ASA(a)			453,227
	98,031	Europris ASA(a)			557,935
	146,756	Golden Ocean Group Ltd.			1,080,396
	618,536	MPC Container Ships ASA			1,071,901
	784,525	Norwegian Air Shuttle ASA*			664,035
		Total Norway			40,509,391
Peru – 0.1%
	19,669	Credicorp Ltd.			2,781,787
	15,112	InRetail Peru Corp.(a)			511,541
		Total Peru			3,293,328
Philippines – 0.2%
	1,809,782	Ayala Land Inc.			867,027
	831,924	BDO Unibank Inc.			2,056,021
	153,440	SM Investments Corp.			2,254,659
		Total Philippines			5,177,707
Poland – 0.2%
	2,742	Benefit Systems SA*			1,123,518
	177,058	InPost SA*			2,079,451
	65,584	LiveChat Software SA(b)			2,126,147
		Total Poland			5,329,116

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations International Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
Portugal – 0.3%
	401,250	Galp Energia SGPS SA		$	5,519,861
	107,883	Jeronimo Martins SGPS SA			2,732,857
		Total Portugal			8,252,718
Russia – 0.0%
	322,796	Fix Price Group PLC, GDR*(a)(c)(d)			32,280
	5,600	Novatek PJSC, GDR*(c)(d)@			112
	978,392	Sberbank of Russia PJSC(c)(d)@			591
		Total Russia			32,983
Saudi Arabia – 0.1%
	109,166	Al Hammadi Holding			1,563,955
	141,792	Saudi National Bank			1,350,321
		Total Saudi Arabia			2,914,276
Singapore – 1.2%
	14,244,900	Genting Singapore Ltd.			9,220,936
	3,697,500	Golden Agri-Resources Ltd.			682,930
	153,954	Hafnia Ltd.			901,614
	37,321	Sea Ltd., ADR*			1,404,389
	309,800	Sembcorp Industries Ltd.			1,225,598
	1,148,200	Sheng Siong Group Ltd.			1,291,129
	723,800	United Overseas Bank Ltd.			15,220,558
	1,056,800	Yanlord Land Group Ltd.*			526,995
		Total Singapore			30,474,149
South Africa – 0.1%
	18,312	Capitec Bank Holdings Ltd.			1,531,336
	25,957	Gold Fields Ltd.			330,551
	62,291	Gold Fields Ltd., ADR			786,735
	4,576	Naspers Ltd., Class N Shares			776,680
		Total South Africa			3,425,302
South Korea – 2.9%
	7,591	AfreecaTV Co., Ltd.			467,037
	101,330	BNK Financial Group Inc.			520,985
	51,409	GS Engineering & Construction Corp.			563,078
	11,784	HAESUNG DS Co., Ltd.			609,799
	55,844	Hanwha Corp.			1,052,610

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations International Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
South Korea – (continued)
	9,799	HD Hyundai Electric Co., Ltd.		$	519,560
	16,510	HD Hyundai Heavy Industries Co., Ltd.(b)			1,627,184
	99,278	HD Hyundai Infracore Co., Ltd.			786,946
	36,621	HD Korea Shipbuilding & Offshore Engineering Co., Ltd.			3,414,772
	57,444	Hyundai Marine & Fire Insurance Co., Ltd.			1,310,719
	14,145	Hyundai Wia Corp.			613,883
	97,432	JB Financial Group Co., Ltd.			713,114
	8,269	JYP Entertainment Corp.			699,006
	28,674	Korea Aerospace Industries Ltd.(b)			1,093,455
	23,806	LEENO Industrial Inc.(b)			3,018,475
	1,198	LG Chem Ltd.			525,936
	12,895	LOTTE Fine Chemical Co., Ltd.			587,107
	17,540	LS Corp.			1,414,320
	72,292	LX INTERNATIONAL Corp.			1,653,242
	17,760	NAVER Corp.			2,867,453
	132,454	NICE Information Service Co., Ltd.			979,545
	11,094	OCI Holdings Co., Ltd.			769,566
	23,698	Poongsan Corp.			630,400
	506,550	Samsung Electronics Co., Ltd.			25,564,130
	1,462	Samsung SDI Co., Ltd.			676,244
	140,338	SK Hynix Inc.			12,888,894
	11,931	Tokai Carbon Korea Co., Ltd.(b)			825,037
	22,326	Youngone Corp.			904,387
	113,553	Yuhan Corp.			6,232,343
		Total South Korea			73,529,227
Spain – 1.0%
	76,071	Acerinox SA			762,981
	153,879	Amadeus IT Group SA			10,525,822
	1,167,308	Banco de Sabadell SA			1,348,903
	1,717,134	CaixaBank SA			6,939,366
	33,700	Compania de Distribucion Integral Logista Holdings SA			911,628
	156,820	Fluidra SA			3,514,158
	39,433	Indra Sistemas SA			556,622
	79,096	Inmobiliaria Colonial Socimi SA			479,680

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations International Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
Spain – (continued)
	59,738	Merlin Properties Socimi SA		$	533,702
		Total Spain			25,572,862
Sweden – 3.0%
	127,549	Assa Abloy AB, Class B Shares			2,876,075
	56,233	Betsson AB, Class B Shares*			628,064
	339,448	Cloetta AB, Class B Shares			571,259
	890,196	Electrolux AB, Class B Shares			9,773,011
	1,510,172	Elekta AB, Class B Shares(b)			10,760,302
	193,892	Epiroc AB, Class A Shares			3,704,970
	185,379	Essity AB, Class B Shares			4,324,285
	464,655	Fortnox AB			2,412,719
	631,318	Getinge AB, Class B Shares			10,913,472
	163,681	Hemnet Group AB			2,967,880
	63,321	Olink Holding AB, ADR*(b)			1,046,696
	846,190	SKF AB, Class B Shares			13,683,082
	522,725	SSAB AB, Class B Shares			2,883,416
	553,028	Storskogen Group AB, Class B Shares			415,768
	182,075	Svenska Cellulosa AB SCA, Class B Shares			2,422,784
	110,566	Swedbank AB, Class A Shares			1,960,458
	21,185	Thule Group AB(a)			609,100
	3,280,064	VEF AB*			713,685
	40,021	Vitec Software Group AB, Class B Shares			2,161,242
		Total Sweden			74,828,268
Switzerland – 5.1%
	18,017	Accelleron Industries AG			487,382
	87,982	Alcon Inc.			7,349,572
	1,920	Barry Callebaut AG, Class Registered Shares			3,345,104
	154	Chocoladefabriken Lindt & Spruengli AG			1,841,002
	18,236	Cie Financiere Richemont SA, Class Registered Shares			2,586,016
	6,210	Geberit AG, Class Registered Shares			3,212,569
	1,290	Givaudan SA, Class Registered Shares			4,291,002
	1,028,775	Glencore PLC			5,478,326
	446,340	Julius Baer Group Ltd.			30,972,822
	4,415	Lonza Group AG, Class Registered Shares			2,436,024

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations International Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
Switzerland – (continued)
	194,848	Nestle SA, Class Registered Shares		$	23,428,584
	5,139	Partners Group Holding AG			5,537,245
	41,666	Roche Holding AG			12,252,084
	24,114	Schindler Holding AG			5,369,097
	61,216	SGS SA, Class Registered Shares			5,569,319
	12,786	Sika AG, Class Registered Shares			3,612,497
	360,634	UBS Group AG, Class Registered Shares			9,573,787
		Total Switzerland			127,342,432
Taiwan – 2.6%
	169,844	Chief Telecom Inc.			1,969,032
	61,000	Chroma ATE Inc.			534,006
	216,336	Delta Electronics Inc.			2,341,281
	91,000	Elite Material Co., Ltd.			1,241,265
	46,000	International Games System Co., Ltd.			829,317
	859,000	King Yuan Electronics Co., Ltd.			2,064,586
	255,285	Materials Analysis Technology Inc.			2,433,710
	185,000	Powertech Technology Inc.			578,813
	832,000	Radiant Opto-Electronics Corp.			3,114,564
	305,000	Simplo Technology Co., Ltd.			2,941,195
	437,000	Supreme Electronics Co., Ltd.			660,690
	340,000	T3EX Global Holdings Corp.			795,026
	92,000	TaiDoc Technology Corp.			496,405
	1,022,320	Taiwan Semiconductor Manufacturing Co., Ltd.			17,608,707
	290,488	Taiwan Semiconductor Manufacturing Co., Ltd., ADR			27,180,962
	40,981	Voltronic Power Technology Corp.*			1,863,075
		Total Taiwan			66,652,634
Thailand – 0.3%
	1,746,400	AP Thailand PCL(c)			633,332
	1,118,900	Betagro PCL(c)			798,758
	73,800	Bumrungrad Hospital PCL(c)@			545,808
	1,031,000	CP ALL PCL, Class F Shares(c)			1,920,981
	2,016,900	Regional Container Lines PCL(c)			1,244,005
	19,912,600	Sansiri PCL(c)			1,159,957

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations International Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
Thailand – (continued)
	1,174,100	Supalai PCL(c)		$	727,526
		Total Thailand			7,030,367
Turkey – 0.3%
	173,638	Anadolu Efes Biracilik Ve Malt Sanayii AS			700,866
	64,380	Dogus Otomotiv Servis ve Ticaret AS			686,131
	343,984	Enerjisa Enerji AS(a)			659,573
	1,442,819	Sok Marketler Ticaret AS			3,348,924
	64,412	Turk Traktor ve Ziraat Makineleri AS			2,195,150
		Total Turkey			7,590,644
United Arab Emirates – 0.0%
	81,922	Network International Holdings PLC*(a)			402,441
United Kingdom – 9.7%
	206,367	AJ Bell PLC			758,601
	59,944	Ashtead Group PLC			4,184,571
	138,189	Ashtead Technology Holdings PLC			707,038
	588,445	Associated British Foods PLC			14,817,870
	68,772	AstraZeneca PLC, ADR			4,664,117
	439,038	B&M European Value Retail SA			3,211,821
	865,263	BAE Systems PLC			11,010,653
	134,112	Balfour Beatty PLC			555,918
	1,053,625	Baltic Classifieds Group PLC			2,809,100
	450,680	Bridgepoint Group PLC(a)			988,994
	590,777	Bytes Technology Group PLC			3,632,033
	12,629,721	Centrica PLC			24,223,073
	27,874	Croda International PLC			1,945,194
	103,323	Darktrace PLC*			469,945
	222,995	Diageo PLC			9,140,614
	455,779	DiscoverIE Group PLC			4,196,475
	136,786	Drax Group PLC			955,560
	3,405,672	DS Smith PLC			13,469,897
	60,770	Dunelm Group PLC			892,526
	83,309	easyJet PLC*			446,479
	591,994	Entain PLC			8,679,881
	63,548	Ergomed PLC*			839,392

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations International Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
United Kingdom – (continued)
	148,585	Future PLC		$	1,461,342
	1,500,883	Haleon PLC			6,118,485
	3,436,365	HSBC Holdings PLC			25,378,866
	367,125	IMI PLC			6,963,793
	92,349	Inchcape PLC			890,282
	87,696	Intertek Group PLC			4,589,172
	138,308	Investec PLC			816,244
	53,726	JET2 PLC			716,243
	1,257,556	Johnson Service Group PLC			1,892,320
	73,215	Keller Group PLC			711,036
	858,751	Kin & Carta PLC*			886,567
	5,905,624	Legal & General Group PLC			16,328,891
	52,704	London Stock Exchange Group PLC			5,457,243
	415,617	Marks & Spencer Group PLC*			1,193,893
	381,261	Mortgage Advice Bureau Holdings Ltd.(c)			2,697,029
	2,068,685	NatWest Group PLC			6,015,398
	189,801	Ocado Group PLC*			2,083,679
	191,577	OSB Group PLC			828,287
	309,651	Patisserie Holdings PLC*(c)(d)			3,922
	718,300	Persimmon PLC			9,659,899
	265,284	Redde Northgate PLC			1,078,517
	247,628	Rightmove PLC			1,749,858
	1,300,531	Smith & Nephew PLC			17,570,905
	25,423	Spirax-Sarco Engineering PLC			3,254,941
	24,976	TORM PLC, Class A Shares			615,495
	96,825	Unilever PLC			4,951,587
	67,428	Vistry Group PLC			665,377
	16,363	Willis Towers Watson PLC			3,383,214
	271,581	YouGov PLC			2,993,907
	12,330	YuLife Holdings Ltd., Class C Shares*(c)@			278,526
		Total United Kingdom			243,834,670
United States – 1.6%
	43,218	Agilent Technologies Inc.			5,232,403
	43,704	Analog Devices Inc.			7,944,513

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations International Equity Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
United States – (continued)
	11,191	ANSYS Inc.*		$	3,568,474
	9,086	BeiGene Ltd., ADR*			1,885,799
	59,889	Bruker Corp.			3,928,718
	26,998	Cadence Design Systems Inc.*			6,491,399
	572	Canva Inc., Private Placement*(c)@			610,130
	97,853	Codere Online Luxembourg SA Forward Shares*(c)			306,280
	24,735	Codere Online Luxembourg SA Founders Shares*(c)			77,421
	1,830	Codere Online Luxembourg SA Private Shares*(c)			5,728
	102,264	Coupang Inc., Class A Shares*			1,940,971
	11,447	Linde PLC			4,430,447
	8,252	Mastercard Inc., Class A Shares			3,405,105
	1,516	MSCI Inc., Class A Shares			824,128
	404	S&P Global Inc.			157,908
	7,757	Starbucks Corp.			755,842
		Total United States			41,565,266
Uruguay – 0.5%
	10,003	MercadoLibre Inc.*			13,727,717
		TOTAL COMMON STOCKS (Cost – $1,921,671,746)			2,213,884,513
EXCHANGE TRADED FUNDS (ETFs) – 8.9%
United States – 8.9%
	1,217,959	iShares Core MSCI Emerging Markets			59,753,069
	3,242,315	iShares MSCI EAFE Value			160,202,784
	28,655	Vanguard FTSE All World ex-US Small-Capital			3,194,746
		Total United States			223,150,599
		TOTAL EXCHANGE TRADED FUNDS (ETFs) (Cost – $221,228,883)			223,150,599
PREFERRED STOCKS – 0.0%
United States – 0.0%
	31	Canva Inc., Series A, Private Placement*(c)@			33,066
	1	Canva Inc., Series A-3, Private Placement*(c)@			1,067
		Total United States			34,133
		TOTAL PREFERRED STOCKS (Cost – $54,552)			34,133

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations International Equity Fund (continued)

Shares/Units		Security	Value
WARRANTS – 0.0%
Canada – 0.0%
	2,323	Constellation Software Inc.*		$	—
United States – 0.0%
	915	Codere Online Luxembourg SA*			168
		TOTAL WARRANTS (Cost – $0)			168
RIGHT – 0.0%
Canada – 0.0%
	2,323	Constellation Software Inc.* (Cost – $1,374)			1,289
		TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS (Cost – $2,142,956,555)			2,437,070,702

Face Amount†

Security

Value

SHORT-TERM INVESTMENTS – 3.2%

TIME DEPOSITS – 3.2%

21,020AUD

ANZ National Bank – Hong Kong, 2.860% due 9/1/23

13,619

8,420,234

ANZ National Bank – London, 4.680% due 9/1/23

8,420,234

10,004,387

Barclays Bank PLC – London, 4.680% due 9/1/23

10,004,387

306,462CHF

BNP Paribas SA – Paris, 0.740% due 9/1/23

346,911

Brown Brothers Harriman – Grand Cayman:

15,610DKK

2.250% due 9/1/23

2,271

1,798,484SEK

2.460% due 9/1/23

164,274

458NOK

2.800% due 9/1/23

144,203CAD

3.830% due 9/1/23

106,723

46GBP

4.170% due 9/1/23

448,614ZAR

6.160% due 9/1/23

23,754

1,268,379EUR

Citibank – London, 2.630% due 9/1/23

1,375,303

16,032,722

Citibank – New York, 4.680% due 9/1/23

16,032,722

1,929,742HKD

Hong Kong & Shanghai Bank – Hong Kong, 1.200% due 9/1/23

246,064

35,822SGD

Hong Kong & Shanghai Bank – Singapore, 2.810% due 9/4/23

26,508

14,732,842

JPMorgan Chase & Co. – New York, 4.680% due 9/1/23

14,732,842

109,311GBP

Skandinaviska Enskilda Banken AB – Stockholm, 4.170% due 9/1/23

138,465

Sumitomo Mitsui Banking Corp. – Tokyo:

84,181,315JPY

(0.530)% due 9/1/23

578,665

28,382,276

4.680% due 9/1/23

28,382,276

TOTAL TIME DEPOSITS
(Cost – $80,595,119)

80,595,119

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations International Equity Fund (continued)

Shares/Units		Security	Value
INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 0.8%
MONEY MARKET FUND – 0.8%
	20,632,983	Federated Government Obligations Fund, Premier Class, 5.165%(e) (Cost – $20,632,983)		$	20,632,983
		TOTAL INVESTMENTS – 100.8% (Cost – $2,244,184,657)			2,538,298,804
		Liabilities in Excess of Other Assets – (0.8)%			(19,438,948)
		TOTAL NET ASSETS – 100.0%		$	2,518,859,856

†

Face amount denominated in U.S. dollars, unless otherwise noted.

Non-income producing security.

(a)

(b)

All or a portion of this security is on loan (See Note 5).

(c)

Illiquid security. The aggregate value of illiquid holdings at August 31, 2023, amounts to $44,078,747 and represents 1.75% 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 maybe sold only to qualified buyers.

Security	First Acquisition Date		First Acquisition Cost			Market Value			Percent of Net Assets
Bumrungrad Hospital PCL		1/27/2023		$	79,602		$	545,808		0.02%
Canva Inc., Private Placement		8/16/2021			397,070			610,130		0.02%
Canva Inc., Series A, Private Placement		11/4/2021			52,848			33,066		0.00%*
Canva Inc., Series A-3, Private Placement		11/4/2021			1,705			1,067		0.00%*
Novatek PJSC, GDR		3/19/2020			251,081			112		0.00%*
Nuvama Wealth Management Ltd.		6/2/2023			1,385			483,796		0.02%
Sberbank of Russia PJSC		4/6/2017			557,253			591		0.00%*
TCS Group Holding PLC, GDR		1/24/2022			381,460			2		0.00%*
YuLife Holdings Ltd., Class C Shares		10/11/2022			243,652			278,526		0.01%
							$	1,953,098		0.07%

Position represents less than 0.005%.

Abbreviations used in this schedule:

ADR

— American Depositary Receipts

GDR

— Global Depositary Receipts

PCL

— Public Company Limited

PLC

— Public Limited Company

REIT

— Real Estate Investment Trust

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations International Equity Fund (concluded)

Summary of Investments by Security Sector^

	Financial					18.0%
	Consumer Non-cyclical					16.9
	Industrial					15.7
	Consumer Cyclical					10.0
	Technology					9.3
	Basic Materials					5.7
	Communications					4.5
	Energy					4.3
	Utilities					2.8
	Exchange Traded Funds (ETFs)					8.8
	Short-Term Investments					3.2
	Money Market Fund					0.8
						100.0%

As a percentage of total investments.

Schedule of Options Contracts Written

Equity Options

Number of
Contracts

Notional
Amount

Security Name

Counterparty

Expiration
Date

Exercise
Rate

Value

1,490,560 CHF

Belimo Holding AG, Call

BBH

9/15/23

65.00

(362)

191,691 EUR

Daimler Truck Holding AG, Call

GSC

9/15/23

35.00

(192)

2,005,920 CHF

Partners Group Holding AG, Call

BBH

9/15/23

1,040.00

(5,682)

TOTAL OPTIONS CONTRACTS WRITTEN

(Premiums received – $10,694)

(6,236)

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

SEK

— Swedish Krona

SGD

— Singapore Dollar

ZAR

— South African Rand

Counterparty Abbreviations used in this schedule:

BBH

— Brown Brothers Harriman & Co

GSC

— Goldman Sachs & Co.

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Equity Income Fund

Face Amount/Units			Security	Value
CORPORATE BOND & NOTE – 0.2%
Utilities – 0.2%
	$	1,300,000	Alliant Energy Corp., Senior Unsecured Notes, 3.875% due 3/15/26(a)		$	1,265,550
			TOTAL CORPORATE BOND & NOTE (Cost – $1,300,000)			1,265,550

Shares/Units
COMMON STOCKS – 94.6%
BASIC MATERIALS – 5.2%
Chemicals – 3.1%
	68,560	DuPont de Nemours Inc.	5,271,578
	82,625	LyondellBasell Industries NV, Class A Shares	8,160,871
	51,931	Nutrien Ltd. (Toronto Exchange)	3,289,501
	38,650	Nutrien Ltd. (New York Exchange)	2,447,318
		Total Chemicals	19,169,268
Mining – 2.1%
	85,550	Agnico Eagle Mines Ltd.(b)	4,150,031
	159,243	BHP Group Ltd.	4,577,872
	60,625	Freeport-McMoRan Inc.	2,419,544
	27,825	Rio Tinto PLC, ADR	1,739,063
		Total Mining	12,886,510
		TOTAL BASIC MATERIALS	32,055,778
COMMUNICATIONS – 5.7%
Advertising – 0.5%
	42,532	Publicis Groupe SA	3,314,048
Media – 0.6%
	83,057	Comcast Corp., Class A Shares	3,883,745
Telecommunications – 4.6%
	293,209	AT&T Inc.	4,336,561
	141,925	BCE Inc.	6,012,276
	127,110	Cisco Systems Inc.	7,289,758
	1,344,800	Singapore Telecommunications Ltd.	2,365,617
	330,580	Telenor ASA	3,542,550
	121,225	TELUS Corp.(b)	2,128,711
	77,175	Verizon Communications Inc.	2,699,582
		Total Telecommunications	28,375,055
		TOTAL COMMUNICATIONS	35,572,848

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Equity Income Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
CONSUMER CYCLICAL – 6.3%
Apparel – 0.6%
	6,835	Kering SA		$	3,644,466
Auto Manufacturers – 0.4%
	82,000	General Motors Co.			2,747,820
Distribution/Wholesale – 1.6%
	57,550	LKQ Corp.			3,023,101
	110,870	Mitsui & Co., Ltd.			4,101,717
	7,000	Watsco Inc.			2,551,850
		Total Distribution/Wholesale			9,676,668
Lodging – 0.5%
	53,847	Las Vegas Sands Corp.			2,954,046
Retail – 3.2%
	41,475	Best Buy Co., Inc.			3,170,764
	5,665	Cie Financiere Richemont SA, Class Registered Shares			803,344
	20,710	Darden Restaurants Inc.			3,220,612
	8,575	Home Depot Inc.(c)			2,832,322
	8,190	McDonald’s Corp.(c)			2,302,619
	101,760	Walgreens Boots Alliance Inc.			2,575,546
	32,862	Walmart Inc.			5,343,690
		Total Retail			20,248,897
		TOTAL CONSUMER CYCLICAL			39,271,897
CONSUMER NON-CYCLICAL – 22.3%
Agriculture – 2.2%
	132,445	British American Tobacco PLC			4,395,173
	100,696	Philip Morris International Inc.			9,672,858
		Total Agriculture			14,068,031
Beverages – 3.0%
	135,758	Coca-Cola Co.			8,122,401
	63,921	Heineken NV			6,211,730
	36,625	Keurig Dr Pepper Inc.			1,232,431
	17,550	PepsiCo Inc.			3,122,496
		Total Beverages			18,689,058

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Equity Income Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
CONSUMER NON-CYCLICAL – (continued)
Biotechnology – 2.5%
	33,815	Amgen Inc.		$	8,668,137
	92,503	Gilead Sciences Inc.			7,074,629
		Total Biotechnology			15,742,766
Cosmetics/Personal Care – 2.8%
	94,410	Kao Corp.			3,668,455
	244,743	Kenvue Inc.(c)			5,641,326
	11,400	Procter & Gamble Co.			1,759,476
	118,190	Unilever PLC			6,036,915
		Total Cosmetics/Personal Care			17,106,172
Food – 0.9%
	113,935	Conagra Brands Inc.			3,404,378
	38,835	Kellogg Co.			2,369,712
		Total Food			5,774,090
Healthcare-Products – 1.1%
	87,882	Medtronic PLC			7,162,383
Healthcare-Services – 1.5%
	6,903	Elevance Health Inc.			3,051,195
	13,011	Humana Inc.			6,006,268
		Total Healthcare-Services			9,057,463
Household Products/Wares – 0.9%
	41,665	Kimberly-Clark Corp.			5,367,702
Pharmaceuticals – 7.4%
	41,086	AbbVie Inc.			6,037,999
	35,276	AstraZeneca PLC			4,758,817
	72,850	AstraZeneca PLC, ADR			4,940,687
	19,295	Johnson & Johnson(c)			3,119,616
	49,975	Merck & Co., Inc.			5,446,276
	182,690	Pfizer Inc.			6,463,572
	84,241	Roche Holding AG, ADR(d)			3,085,748
	111,801	Sanofi			11,896,372
		Total Pharmaceuticals			45,749,087
		TOTAL CONSUMER NON-CYCLICAL			138,716,752

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Equity Income Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
ENERGY – 10.6%
Oil & Gas – 6.4%
	44,325	Chesapeake Energy Corp.		$	3,909,908
	58,976	Chevron Corp.			9,501,034
	35,300	ConocoPhillips(c)			4,201,759
	23,550	EOG Resources Inc.			3,029,001
	10,925	Pioneer Natural Resources Co.			2,599,385
	184,116	Shell PLC			5,628,897
	177,080	TotalEnergies SE			11,134,865
		Total Oil & Gas			40,004,849
Oil & Gas Services – 0.4%
	72,549	Baker Hughes Co., Class A Shares			2,625,548
Pipelines – 3.8%
	184,925	Enbridge Inc.			6,492,630
	194,727	Enterprise Products Partners LP			5,181,686
	119,651	TC Energy Corp.			4,321,321
	218,750	Williams Cos., Inc.			7,553,438
		Total Pipelines			23,549,075
		TOTAL ENERGY			66,179,472
FINANCIAL – 17.4%
Banks – 10.5%
	89,950	Canadian Imperial Bank of Commerce			3,564,182
	82,700	Fifth Third Bancorp			2,195,685
	9,625	Goldman Sachs Group Inc.			3,154,209
	424,290	Huntington Bancshares Inc.			4,705,376
	50,145	JPMorgan Chase & Co.(c)			7,337,718
	36,575	Morgan Stanley			3,114,361
	603,351	Nordea Bank Abp			6,609,065
	417,056	Oversea-Chinese Banking Corp., Ltd.			3,871,053
	66,125	PNC Financial Services Group Inc.			7,983,271
	185,040	Sumitomo Mitsui Trust Holdings Inc.			6,926,449
	79,425	Truist Financial Corp.			2,426,434
	131,348	US Bancorp			4,798,143
	197,536	Wells Fargo & Co.			8,156,261
		Total Banks			64,842,207

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Equity Income Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
FINANCIAL – (continued)
Diversified Financial Services – 1.2%
	5,100	CME Group Inc., Class A Shares(c)		$	1,033,668
	34,401	Deutsche Boerse AG			6,107,565
		Total Diversified Financial Services			7,141,233
Equity Real Estate Investment Trusts (REITs) – 1.9%
	148,700	Brixmor Property Group Inc.			3,268,426
	28,660	Lamar Advertising Co., Class A Shares			2,614,365
	45,562	NNN REIT Inc.			1,794,687
	15,297	Prologis Inc.			1,899,887
	26,175	Terreno Realty Corp.			1,593,796
	27,083	VICI Properties Inc., Class A Shares			835,240
		Total Equity Real Estate Investment Trusts (REITs)			12,006,401
Insurance – 3.8%
	22,681	Allianz SE, Class Registered Shares			5,517,629
	32,200	American International Group Inc.			1,884,344
	14,007	Everest Group Ltd.			5,052,045
	85,620	NN Group NV(b)			3,301,004
	25,775	Progressive Corp.			3,440,189
	11,068	Zurich Insurance Group AG			5,194,254
		Total Insurance			24,389,465
		TOTAL FINANCIAL			108,379,306
INDUSTRIAL – 11.2%
Aerospace/Defense – 2.4%
	24,145	Airbus SE			3,535,048
	18,146	General Dynamics Corp.			4,112,609
	5,425	Lockheed Martin Corp.			2,432,299
	48,200	RTX Corp.			4,147,128
		Total Aerospace/Defense			14,227,084
Building Materials – 1.1%
	41,100	CRH PLC, ADR			2,366,127
	27,450	Heidelberg Materials AG			2,211,036
	12,088	Knife River Corp.*			622,049
	96,675	MDU Resources Group Inc.			1,968,303
		Total Building Materials			7,167,515

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Equity Income Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
INDUSTRIAL – (continued)
Electrical Components & Equipment – 0.7%
	42,607	Emerson Electric Co.		$	4,186,138
Engineering & Construction – 0.6%
	116,726	Ferrovial SE(b)			3,697,920
Hand/Machine Tools – 0.4%
	29,100	Stanley Black & Decker Inc.			2,746,458
Machinery-Construction & Mining – 0.9%
	6,000	Caterpillar Inc.(c)			1,686,780
	310,200	Mitsubishi Electric Corp.			4,057,773
		Total Machinery-Construction & Mining			5,744,553
Machinery-Diversified – 0.6%
	28,260	AGCO Corp.			3,660,518
Miscellaneous Manufacturers – 2.1%
	43,421	Eaton Corp. PLC(c)			10,002,896
	21,510	Siemens AG, Class Registered Shares			3,239,670
		Total Miscellaneous Manufacturers			13,242,566
Packaging & Containers – 0.7%
	422,900	Amcor PLC			4,119,046
Transportation – 1.7%
	107,812	DHL Group			5,036,851
	4,225	Union Pacific Corp.			931,908
	30,000	United Parcel Service Inc., Class B Shares			5,082,000
		Total Transportation			11,050,759
		TOTAL INDUSTRIAL			69,842,557
TECHNOLOGY – 6.0%
Computers – 0.4%
	14,650	Capgemini SE			2,722,976
Semiconductors – 3.5%
	7,825	Analog Devices Inc.			1,422,428
	6,848	Broadcom Inc.			6,319,951
	64,450	Intel Corp.			2,264,773
	147,600	MediaTek Inc.			3,261,581
	18,475	QUALCOMM Inc.			2,115,942
	79,177	Samsung Electronics Co., Ltd.			3,225,733

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Equity Income Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
TECHNOLOGY – (continued)
Semiconductors – (continued)
	19,725	Texas Instruments Inc.		$	3,314,983
		Total Semiconductors			21,925,391
Software – 2.1%
	5,125	Microsoft Corp.(c)			1,679,770
	51,747	Oracle Corp.			6,229,821
	41,725	Paychex Inc.			5,100,047
		Total Software			13,009,638
		TOTAL TECHNOLOGY			37,658,005
UTILITIES – 9.9%
Electric – 9.9%
	31,250	Ameren Corp.			2,477,187
	72,320	American Electric Power Co., Inc.			5,669,888
	117,150	CenterPoint Energy Inc.			3,267,314
	147,781	Dominion Energy Inc.			7,173,290
	82,570	Duke Energy Corp.			7,332,216
	508,909	Enel SpA			3,419,537
	201,137	Engie SA			3,236,926
	31,575	Entergy Corp.			3,007,519
	47,500	Evergy Inc.			2,611,075
	528,965	National Grid PLC			6,612,821
	44,850	NextEra Energy Inc.			2,995,980
	134,325	PPL Corp.			3,347,379
	35,400	Public Service Enterprise Group Inc.			2,162,232
	28,050	Sempra			1,969,671
	97,535	Southern Co.			6,606,046
		Total Electric			61,889,081
		TOTAL UTILITIES			61,889,081
		TOTAL COMMON STOCKS (Cost – $553,625,528)			589,565,696
EXCHANGE TRADED FUNDS (ETFs) – 3.4%
	131,029	iShares Core Dividend Growth			6,810,887
	253,227	JPMorgan Equity Premium Income			14,076,889

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Equity Income Fund (continued)

Shares/Units	Security	Value
COMMON STOCKS – (continued)
EXCHANGE TRADED FUNDS (ETFs) – (continued)
	TOTAL EXCHANGE TRADED FUNDS (ETFs) (Cost – $20,273,430)		$	20,887,776
	TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS (Cost – $575,198,958)			611,719,022

Face Amount†			Security	Value
SHORT-TERM INVESTMENTS – 1.2%
EQUITY LINKED NOTE – 0.3%
	$	81,050	Merrill Lynch International & Co. CV, 0.120% due 2/20/24(d) (Cost – $1,920,017)		1,918,600
TIME DEPOSITS – 0.9%
		7,553	ANZ National Bank – London, 4.680% due 9/1/23		7,553
		328EUR	Citibank – London, 2.630% due 9/1/23		356
		4,556,439	Citibank – New York, 4.680% due 9/1/23		4,556,439
		982,815	JPMorgan Chase & Co. – New York, 4.680% due 9/1/23		982,815
		46,690GBP	Skandinaviska Enskilda Banken AB – Stockholm, 4.170% due 9/1/23		59,143
		48,894	Sumitomo Mitsui Banking Corp. – Tokyo, 4.680% due 9/1/23		48,894
			TOTAL TIME DEPOSITS (Cost – $5,655,200)		5,655,200
			TOTAL SHORT-TERM INVESTMENTS (Cost – $7,575,217)		7,573,800

Shares/Units
INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 1.7%
MONEY MARKET FUND – 1.7%
	10,518,183	Federated Government Obligations Fund, Premier Class, 5.165%(e) (Cost – $10,518,183)		10,518,183
		TOTAL INVESTMENTS – 101.1% (Cost – $593,292,358)		629,811,005
		Liabilities in Excess of Other Assets – (1.1)%		(6,893,654)
		TOTAL NET ASSETS – 100.0%	$	622,917,351

†

Face amount denominated in U.S. dollars, unless otherwise noted.

Non-income producing security.

(a)

(b)

All or a portion of this security is on loan (See Note 5).

(c)

All or a portion of this security is pledged by the Fund as collateral for short sales or derivative transactions.

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Equity Income Fund (concluded)

(d)

Illiquid security. The aggregate value of illiquid holdings at August 31, 2023, amounts to $5,004,348 and represents 0.80% of net assets.

(e)

Represents investment of collateral received from securities lending transactions.

Abbreviations used in this schedule:

ADR

— American Depositary Receipts

PLC

— Public Limited Company

Summary of Investments by Security Sector^

	Consumer Non-cyclical					22.0%
	Financial					17.2
	Industrial					11.1
	Energy					10.5
	Utilities					10.0
	Consumer Cyclical					6.3
	Technology					6.0
	Communications					5.6
	Basic Materials					5.1
	Exchange Traded Funds (ETFs)					3.3
	Short-Term Investments					1.2
	Money Market Fund					1.7
						100.0%

As a percentage of total investments.

Schedule of Options Contracts Written

Equity Options

Number of Contracts	Notional Amount			Security Name	Counterparty		Expiration Date		Exercise Rate			Value
15		$	421,695	Caterpillar Inc., Call		CITI		9/15/23		$	310.00		$	(210)
150			598,650	Freeport-McMoRan Inc., Put		CITI		9/15/23			32.00			(300)
30			508,200	United Parcel Service of America Inc., Put		CITI		9/15/23			150.00			(150)
30			508,200	United Parcel Service of America Inc., Put		CITI		9/15/23			160.00			(1,080)
30			508,200	United Parcel Service of America Inc., Put		CITI		9/15/23			170.00			(7,890)
				TOTAL OPTIONS CONTRACTS WRITTEN
				(Premiums received – $10,376)									$	(9,630)

Currency Abbreviations used in this schedule:

EUR

— Euro

GBP

— British Pound

Counterparty Abbreviations used in this schedule:

CITI

— Citigroup Global Markets Inc.

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund

Face Amount/Units			Security	Value
MORTGAGE-BACKED SECURITIES – 24.3%
FHLMC – 6.3%
			Federal Home Loan Mortgage Corp. (FHLMC)., Gold:
	$	536,291	2.000% due 5/1/36		$	471,605
		204,471	2.000% due 6/1/36			179,799
		93,229	2.000% due 12/1/40			78,679
		588,142	2.000% due 5/1/41			493,796
		703,775	2.000% due 12/1/41			584,763
		287,726	2.000% due 9/1/50			230,816
		506,303	2.000% due 10/1/50			405,298
		7,530,104	2.000% due 3/1/51			6,018,331
		1,240,919	2.000% due 4/1/51			991,599
		498,178	2.000% due 5/1/51			402,515
		192,407	2.000% due 8/1/51			153,708
		196,034	2.000% due 11/1/51			157,000
		764,960	2.000% due 4/1/52			616,451
		293,606	2.500% due 5/1/50			246,785
		351,208	2.500% due 6/1/50			293,620
		1,926,025	2.500% due 7/1/50			1,610,494
		513,905	2.500% due 9/1/50			427,568
		601,696	2.500% due 11/1/50			502,715
		183,860	2.500% due 2/1/51			154,514
		459,412	2.500% due 3/1/51			384,091
		216,323	2.500% due 5/1/51			180,192
		302,301	2.500% due 7/1/51			252,291
		178,687	2.500% due 8/1/51			148,811
		334,497	2.500% due 10/1/51			278,662
		6,158,154	2.500% due 12/1/51			5,108,934
		6,746,176	2.500% due 1/1/52			5,618,262
		1,173,209	2.500% due 4/1/52			974,091
		683,910	3.000% due 2/1/33			645,375
		396,473	3.000% due 5/1/33			370,773
		296,789	3.000% due 3/1/35			275,313
		529,925	3.000% due 5/1/35			491,106
		4,167,931	3.000% due 3/1/42			3,694,910
		120,673	3.000% due 1/1/47			105,873
		242,148	3.000% due 2/1/47			212,413
		5,111,144	3.000% due 4/1/50			4,336,698
		226,216	3.000% due 7/1/50			196,256
		803,264	3.000% due 8/1/51			696,211
		517,272	3.000% due 9/1/51			449,745
		633,020	3.000% due 10/1/51			550,387

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
MORTGAGE-BACKED SECURITIES – (continued)
FHLMC – (continued)
	$	7,874,084	3.000% due 1/1/52		$	6,860,530
		8,421,415	3.000% due 5/1/52			7,323,826
		7,026,126	3.000% due 6/1/52			6,068,293
		3,744,176	3.030% due 1/1/50			2,871,240
		813,049	3.500% due 8/1/43			748,753
		12,819,504	3.500% due 12/1/46			11,673,299
		371,146	3.500% due 1/1/48			338,072
		662,761	4.000% due 10/1/44			629,257
		852,935	4.000% due 12/1/47			802,134
		741,103	4.000% due 4/1/49			693,033
		343,857	4.000% due 7/1/49			321,859
		8,449,352	4.000% due 8/1/51			7,918,173
		13,247,820	4.350% due 10/1/32			12,432,643
		7,700,000	4.380% due 5/1/28			7,434,676
		317,695	4.500% due 5/1/48			305,563
		5,636,432	4.500% due 7/1/52			5,345,694
		3,590,361	4.500% due 10/1/52			3,404,278
		7,600,000	4.840% due 4/1/30			7,469,226
		188,966	5.000% due 8/1/52			183,348
		6,527,018	5.000% due 9/1/52			6,331,842
		888,425	5.000% due 10/1/52			861,734
		860,074	5.000% due 1/1/53			833,969
		1,784,129	5.000% due 4/1/53			1,730,561
		666,691	5.500% due 2/1/53			660,941
		460,328	6.000% due 12/1/52			466,221
		195,980	6.000% due 3/1/53			198,491
			TOTAL FHLMC			132,898,106
FNMA – 15.4%
			Federal National Mortgage Association (FNMA):
		1,079,804	1.500% due 9/1/51			815,135
		252,602	1.500% due 10/1/51			190,725
		147,812	1.500% due 11/1/51			111,534
		970,966	1.500% due 4/1/52			733,131
		573,054	2.000% due 5/1/36			503,927
		742,080	2.000% due 6/1/36			654,209
		571,537	2.000% due 8/1/36			502,607
		370,112	2.000% due 9/1/36			325,393
		308,791	2.000% due 12/1/36			271,445
		1,700,000	2.000% due 9/1/38(a)			1,489,215
		365,382	2.000% due 9/1/40			308,430

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
MORTGAGE-BACKED SECURITIES – (continued)
FNMA – (continued)
	$	870,966	2.000% due 12/1/40		$	732,761
		399,319	2.000% due 4/1/41			334,711
		122,817	2.000% due 5/1/41			103,117
		504,979	2.000% due 10/1/41			420,683
		11,619,511	2.000% due 8/1/50			9,353,135
		1,313,019	2.000% due 9/1/50			1,053,367
		848,452	2.000% due 12/1/50			679,097
		3,947,380	2.000% due 2/1/51			3,172,541
		6,081,102	2.000% due 3/1/51			4,852,766
		3,016,577	2.000% due 4/1/51			2,406,774
		14,578,122	2.000% due 5/1/51			11,630,456
		149,319	2.000% due 7/1/51			119,370
		13,330,000	2.000% due 9/1/53(a)			10,613,492
		225,065	2.250% due 4/1/33			181,957
		94,374	2.500% due 6/1/30			87,708
		760,000	2.500% due 9/1/38(a)			683,436
		6,053,947	2.500% due 2/1/47			5,108,052
		321,450	2.500% due 4/1/50			268,807
		317,269	2.500% due 6/1/50			265,283
		58,936	2.500% due 7/1/50			49,277
		533,459	2.500% due 9/1/50			447,390
		6,148,381	2.500% due 10/1/50			5,172,183
		9,986,460	2.500% due 11/1/50			8,349,328
		305,780	2.500% due 1/1/51			256,548
		1,115,356	2.500% due 2/1/51			930,418
		5,338,066	2.500% due 5/1/51			4,451,433
		1,313,535	2.500% due 6/1/51			1,094,213
		444,390	2.500% due 7/1/51			370,713
		11,046,417	2.500% due 8/1/51			9,186,642
		287,336	2.500% due 9/1/51			239,385
		8,489,033	2.500% due 10/1/51			7,053,349
		10,284,446	2.500% due 11/1/51			8,577,324
		6,774,699	2.500% due 12/1/51			5,624,499
		518,947	2.500% due 1/1/52			434,354
		7,490,964	2.500% due 2/1/52			6,207,143
		737,506	2.500% due 3/1/52			616,134
		409,285	2.500% due 4/1/52			340,930
		662,918	2.500% due 1/1/57			549,260
		4,443,000	2.760% due 9/1/31			3,841,872
		346,193	3.000% due 2/1/30			326,816

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
MORTGAGE-BACKED SECURITIES – (continued)
FNMA – (continued)
	$	221,534	3.000% due 10/1/30		$	208,679
		504,925	3.000% due 1/1/31			476,625
		1,025,584	3.000% due 11/1/36			941,667
		125,000	3.000% due 9/1/38(a)			115,498
		3,576,869	3.000% due 3/1/43			3,166,628
		6,573,938	3.000% due 6/1/43			5,818,911
		117,977	3.000% due 11/1/48			103,203
		4,182,296	3.000% due 11/1/49			3,637,441
		55,369	3.000% due 12/1/49			48,158
		224,546	3.000% due 2/1/50			196,552
		929,456	3.000% due 8/1/50			807,570
		383,449	3.000% due 10/1/50			332,368
		2,503,866	3.000% due 11/1/50			2,195,324
		529,693	3.000% due 12/1/50			459,151
		451,848	3.000% due 5/1/51			396,246
		99,541	3.000% due 6/1/51			86,019
		820,306	3.000% due 7/1/51			710,836
		1,039,601	3.000% due 8/1/51			900,184
		897,168	3.000% due 9/1/51			778,098
		1,322,874	3.000% due 10/1/51			1,146,598
		1,227,981	3.000% due 11/1/51			1,061,475
		651,918	3.000% due 12/1/51			564,989
		308,964	3.000% due 1/1/52			267,145
		6,971,763	3.000% due 2/1/52			6,009,809
		4,880,435	3.000% due 4/1/52			4,211,331
		468,804	3.000% due 5/1/52			406,997
		4,261,063	3.000% due 4/1/53			3,725,106
		229,204	3.500% due 7/1/32			219,061
		708,410	3.500% due 3/1/33			677,033
		410,005	3.500% due 7/1/37			380,814
		643,581	3.500% due 3/1/46			585,591
		693,880	3.500% due 5/1/47			634,534
		826,861	3.500% due 11/1/47			751,508
		452,984	3.500% due 7/1/50			409,658
		10,145,246	3.500% due 11/1/50			9,189,089
		1,430,551	3.500% due 2/1/51			1,297,212
		7,442,750	3.500% due 7/1/51			6,747,106
		714,147	3.500% due 4/1/52			641,650
		475,000	3.520% due 11/1/32			428,923
		7,931,819	3.720% due 6/1/32			7,144,198

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
MORTGAGE-BACKED SECURITIES – (continued)
FNMA – (continued)
	$	302,162	4.000% due 8/1/38		$	289,641
		205,000	4.000% due 9/1/38(a)			196,816
		465,357	4.000% due 11/1/38			441,121
		586,282	4.000% due 3/1/47			551,632
		56,486	4.000% due 12/1/47			53,259
		81,920	4.000% due 2/1/48			76,785
		895,964	4.000% due 6/1/48			842,637
		1,135,925	4.000% due 10/1/48			1,068,252
		972,928	4.000% due 4/1/49			905,884
		153,042	4.000% due 5/1/49			144,051
		667,202	4.000% due 4/1/50			625,517
		296,979	4.000% due 8/1/51			277,297
		469,923	4.000% due 6/1/52			434,917
		4,218,364	4.000% due 7/1/52			3,895,279
		7,232,832	4.000% due 10/1/52			6,680,372
		387,764	4.030% due 6/1/28			373,813
		475,000	4.190% due 4/1/28			459,727
		200,000	4.210% due 3/1/33			190,043
		166,737	4.370% due 5/1/28			163,117
		290,000	4.410% due 4/1/30			282,567
		452,369	4.460% due 5/1/28			444,262
		240,000	4.500% due 4/1/33			233,352
		377,278	4.500% due 12/1/37			370,114
		7,694,000	4.500% due 9/1/38(a)			7,495,038
		227,543	4.500% due 5/1/48			220,144
		227,985	4.500% due 6/1/48			219,597
		3,859,770	4.500% due 10/1/50			3,724,030
		3,992,129	4.500% due 7/1/52			3,785,537
		7,544,373	4.500% due 8/1/52			7,153,754
		880,176	4.500% due 3/1/53			834,510
		20,907,000	4.500% due 9/1/53(a)			19,822,449
		214,196	4.510% due 5/1/33			209,012
		120,000	4.750% due 4/1/28			119,264
		656,585	5.000% due 7/1/52			637,062
		17,708,215	5.000% due 9/1/52			17,181,131
		1,521,522	5.000% due 10/1/52			1,475,678
		141,570	5.000% due 11/1/52			137,312
		2,426,848	5.000% due 12/1/52			2,353,716
		4,546,682	5.000% due 3/1/53			4,408,605
		3,209,467	5.000% due 4/1/53			3,112,542

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
MORTGAGE-BACKED SECURITIES – (continued)
FNMA – (continued)
	$	1,291,971	5.092% due 5/1/44(b)		$	1,310,436
		458,283	5.500% due 10/1/52			454,331
		846,347	5.500% due 11/1/52			835,842
		1,435,060	5.500% due 12/1/52			1,417,811
		6,434,970	5.500% due 1/1/53			6,352,397
		774,197	5.500% due 6/1/53			764,262
		19,865,000	5.500% due 9/1/53(a)			19,613,584
		488,838	6.000% due 5/1/53			496,458
		12,500,000	6.000% due 9/1/53(a)			12,532,715
			TOTAL FNMA			325,639,132
GNMA – 2.6%
			Government National Mortgage Association (GNMA):
		2,525,000	2.000% due 9/1/53(a)			2,082,533
		5,865,000	2.500% due 9/1/53(a)			4,989,374
		3,737,000	3.500% due 9/1/53(a)			3,393,225
		1,850,000	4.000% due 9/1/53(a)			1,723,680
		2,505,000	4.500% due 9/1/53(a)			2,387,187
		5,885,000	5.000% due 9/1/53(a)			5,726,496
		4,725,000	5.500% due 9/1/41(a)			4,677,012
			Government National Mortgage Association (GNMA) II:
		677,173	2.000% due 10/20/50			561,497
		698,191	2.500% due 9/20/51			594,401
		6,518,016	2.500% due 10/20/51			5,532,252
		264,370	3.000% due 4/20/31			250,333
		515,473	3.000% due 6/20/50			444,015
		96,093	3.000% due 12/20/50			85,226
		2,318,874	3.000% due 4/20/51			2,050,717
		865,914	3.000% due 8/20/51			762,941
		865,021	3.000% due 9/20/51			763,485
		2,268,000	3.000% due 12/20/51			1,998,198
		721,741	3.000% due 4/20/52			635,271
		510,272	3.000% due 12/20/52			449,563
		117,873	3.500% due 8/20/42			109,200
		445,278	3.500% due 10/20/43			413,099
		79,563	3.500% due 12/20/43			73,751
		16,040	3.500% due 7/20/44			14,823
		391,736	3.500% due 6/20/46			361,670
		328,612	3.500% due 2/20/49			301,837
		348,593	3.500% due 6/20/50			318,542
		673,703	3.500% due 9/20/50			614,081

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
MORTGAGE-BACKED SECURITIES – (continued)
GNMA – (continued)
	$	3,082,735	3.500% due 10/20/51		$	2,806,550
		4,603,830	3.500% due 2/20/52			4,180,223
		1,051,585	3.500% due 1/20/53			954,827
		496,568	4.000% due 10/20/44			472,356
		327,831	4.000% due 2/20/45			310,864
		224,823	4.000% due 10/20/45			213,347
		281,629	4.000% due 2/20/47			266,542
		586,050	4.000% due 10/20/48			552,538
		485,197	4.000% due 3/20/49			456,897
		1,319,322	4.000% due 2/20/52			1,230,711
		642,773	4.500% due 2/20/40			628,870
		218,661	4.500% due 7/20/49			210,733
		227,486	4.500% due 8/20/49			218,456
			TOTAL GNMA			53,817,323
			TOTAL MORTGAGE-BACKED SECURITIES (Cost – $552,906,205)			512,354,561
CORPORATE BONDS & NOTES – 23.9%
Basic Materials – 0.7%
		570,000	Anglo American Capital PLC, Company Guaranteed Notes, 3.875% due 3/16/29(c)			519,860
		4,600,000	ArcelorMittal SA, Senior Unsecured Notes, 6.800% due 11/29/32			4,725,847
		90,000	ASP Unifrax Holdings Inc., Senior Secured Notes, 5.250% due 9/30/28(c)			60,863
		385,000	BHP Billiton Finance USA Ltd., Company Guaranteed Notes, 4.900% due 2/28/33			379,892
		200,000	Braskem Idesa SAPI, Senior Secured Notes, 6.990% due 2/20/32			119,772
		400,000	Braskem Netherlands Finance BV, Company Guaranteed Notes, 8.500% (5-Year CMT Index + 8.220%) due 1/23/81(b)			402,300
		400,000	CAP SA, Senior Unsecured Notes, 3.900% due 4/27/31			298,373
			Celanese US Holdings LLC, Company Guaranteed Notes:
		735,000	6.165% due 7/15/27			735,393
		380,000	6.550% due 11/15/30			380,187
		200,000	CSN Resources SA, Company Guaranteed Notes, 5.875% due 4/8/32			161,747
		75,000	CVR Partners LP/CVR Nitrogen Finance Corp., Senior Secured Notes, 6.125% due 6/15/28(c)			67,145
			Freeport-McMoRan Inc., Company Guaranteed Notes:
		100,000	4.375% due 8/1/28			92,776
		100,000	4.625% due 8/1/30			92,484
		605,000	Georgia-Pacific LLC, Senior Unsecured Notes, 3.600% due 3/1/25(c)			587,309
			Glencore Funding LLC, Company Guaranteed Notes:
		435,000	1.625% due 4/27/26(c)			394,319

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Basic Materials – (continued)
	$	380,000	5.700% due 5/8/33(c)		$	372,326
		105,000	Illuminate Buyer LLC/Illuminate Holdings IV Inc., Senior Unsecured Notes, 9.000% due 7/1/28(c)			97,198
		300,000	Indonesia Asahan Aluminium PT/Mineral Industri Indonesia Persero PT, Senior Unsecured Notes, 4.750% due 5/15/25			294,013
		90,000	Mativ Holdings Inc., Company Guaranteed Notes, 6.875% due 10/1/26(c)			81,500
		200,000	MEGlobal Canada ULC, Company Guaranteed Notes, 5.000% due 5/18/25			196,200
		300,000	Nexa Resources SA, Company Guaranteed Notes, 5.375% due 5/4/27			282,122
		115,000	Novelis Corp., Company Guaranteed Notes, 4.750% due 1/30/30(c)			102,918
		200,000	Olympus Water US Holding Corp., Senior Secured Notes, 4.250% due 10/1/28(c)			164,196
		1,840,000	RPM International Inc., Senior Unsecured Notes, 2.950% due 1/15/32			1,477,042
		200,000	Sasol Financing USA LLC, Company Guaranteed Notes, 5.500% due 3/18/31			160,071
		680,000	Sherwin-Williams Co., Senior Unsecured Notes, 2.300% due 5/15/30			567,851
		50,000	SK Invictus Intermediate II SARL, Senior Secured Notes, 5.000% due 10/30/29(c)			41,078
		45,000	TMS International Corp., Senior Unsecured Notes, 6.250% due 4/15/29(c)			37,575
		400,000	UPL Corp., Ltd, Company Guaranteed Notes, 4.625% due 6/16/30			330,223
		400,000	Vedanta Resources Finance II PLC, Company Guaranteed Notes, 9.250% due 4/23/26(c)			227,741
		165,000	WR Grace Holdings LLC, Senior Unsecured Notes, 5.625% due 8/15/29(c)			139,541
			Total Basic Materials			13,589,862
Communications – 2.3%
		200,000	Acuris Finance U.S. Inc./Acuris Finance SARL, Senior Secured Notes, 5.000% due 5/1/28(c)			162,000
		200,000	Altice France SA, Senior Secured Notes, 5.500% due 10/15/29(c)			144,464
		475,000	Amazon.com Inc., Senior Unsecured Notes, 4.100% due 4/13/62			393,802
		50,000	Arches Buyer Inc., Senior Secured Notes, 4.250% due 6/1/28(c)			43,492
			AT&T Inc., Senior Unsecured Notes:
		185,000	2.750% due 6/1/31			152,837
		4,546,000	2.250% due 2/1/32			3,546,806
		5,485,000	2.550% due 12/1/33			4,185,199
		480,000	5.400% due 2/15/34			466,128
		255,000	3.800% due 12/1/57			171,972
		200,000	C&W Senior Financing DAC, Senior Unsecured Notes, 6.875% due 9/15/27			185,616
			CCO Holdings LLC/CCO Holdings Capital Corp., Senior Unsecured Notes:
		150,000	5.125% due 5/1/27(c)			141,013
		265,000	4.750% due 3/1/30(c)			227,845
		125,000	4.500% due 8/15/30(c)			105,150
		95,000	4.750% due 2/1/32(c)			78,612
		60,000	4.250% due 1/15/34(c)			45,948

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Communications – (continued)
			Charter Communications Operating LLC/Charter Communications Operating Capital, Senior Secured Notes:
	$	360,000	4.200% due 3/15/28		$	335,309
		1,055,000	2.300% due 2/1/32			796,193
		3,965,000	6.384% due 10/23/35			3,846,358
		156,000	3.500% due 3/1/42			101,986
		2,380,000	4.800% due 3/1/50			1,763,312
		175,000	3.700% due 4/1/51			108,750
		165,000	3.900% due 6/1/52			105,578
		185,000	4.400% due 12/1/61			121,591
			Clear Channel Outdoor Holdings Inc.:
		50,000	Company Guaranteed Notes, 7.500% due 6/1/29(c)			37,265
		45,000	Senior Secured Notes, 9.000% due 9/15/28(c)			45,225
			Comcast Corp., Company Guaranteed Notes:
		690,000	4.800% due 5/15/33			674,566
		1,250,000	3.750% due 4/1/40			1,028,090
		1,004,000	2.937% due 11/1/56			624,766
		90,000	CommScope Inc., Senior Secured Notes, 4.750% due 9/1/29(c)			66,882
		85,000	CommScope Technologies LLC, Company Guaranteed Notes, 5.000% due 3/15/27(c)			47,258
		80,000	Consolidated Communications Inc., Senior Secured Notes, 5.000% due 10/1/28(c)			59,954
		430,000	Cox Communications Inc., Senior Unsecured Notes, 2.600% due 6/15/31(c)			347,429
		2,766,000	Crown Castle Towers LLC, Asset Backed, 4.241% due 7/15/28(c)			2,556,075
		200,000	CSC Holdings LLC, Company Guaranteed Notes, 6.500% due 2/1/29(c)			165,332
		200,000	CT Trust, Senior Secured Notes, 5.125% due 2/3/32			164,696
			Digicel Group Holdings Ltd.:
		56,915	Senior Unsecured Notes, 8.000% due 4/1/25(c)(d)(e)			9,676
		85,477	Subordinated Notes, 7.000%(c)(f)(g)			8,120
		90,000	DIRECTV Financing LLC/Directv Financing Co.-Obligor Inc., Senior Secured Notes, 5.875% due 8/15/27(c)			79,760
			Discovery Communications LLC, Company Guaranteed Notes:
		54,000	4.125% due 5/15/29			49,571
		145,000	3.625% due 5/15/30			127,351
		236,000	5.200% due 9/20/47			191,050
		309,000	5.300% due 5/15/49			252,012
		880,000	4.650% due 5/15/50			655,931
			DISH DBS Corp.:
			Company Guaranteed Notes:
		40,000	5.875% due 11/15/24			37,205

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Communications – (continued)
	$	75,000	5.125% due 6/1/29		$	40,552
		140,000	Senior Secured Notes, 5.750% due 12/1/28(c)			108,678
		65,000	Embarq Corp., Senior Unsecured Notes, 7.995% due 6/1/36			39,595
			Expedia Group Inc., Company Guaranteed Notes:
		455,000	5.000% due 2/15/26			449,691
		875,000	3.800% due 2/15/28			815,553
			Frontier Communications Holdings LLC:
			Senior Secured Notes:
		45,000	5.875% due 10/15/27(c)			40,986
		90,000	5.000% due 5/1/28(c)			77,117
		54,900	Secured Notes, 5.875% due 11/1/29			40,658
		135,000	GCI LLC, Senior Unsecured Notes, 4.750% due 10/15/28(c)			117,112
		25,000	iHeartCommunications Inc., Company Guaranteed Notes, 8.375% due 5/1/27			17,311
			Intelsat Jackson Holdings SA:
		110,000	Company Guaranteed Notes, 5.500% due 8/1/23(d)			—
		90,000	Senior Secured Notes, 6.500% due 3/15/30(c)			82,522
		2,990,000	Interpublic Group of Cos., Inc., Senior Unsecured Notes, 2.400% due 3/1/31			2,416,930
			Level 3 Financing Inc.:
		40,000	Company Guaranteed Notes, 3.750% due 7/15/29(c)			23,860
		110,000	Senior Secured Notes, 10.500% due 5/15/30(c)			111,737
		45,000	Lumen Technologies Inc., Senior Secured Notes, 4.000% due 2/15/27(c)			28,360
		150,000	Match Group Holdings II LLC, Senior Unsecured Notes, 5.000% due 12/15/27(c)			140,751
		110,000	McGraw-Hill Education Inc., Senior Secured Notes, 5.750% due 8/1/28(c)			97,625
			Meta Platforms Inc., Senior Unsecured Notes:
		775,000	4.950% due 5/15/33			771,214
		645,000	5.600% due 5/15/53			647,652
		360,000	Millicom International Cellular SA, Senior Unsecured Notes, 6.250% due 3/25/29			329,252
		200,000	Network i2i Ltd., Company Guaranteed Notes, 5.650% (5-Year CMT Index + 4.274%)(b)(f)			194,500
		45,000	News Corp., Company Guaranteed Notes, 5.125% due 2/15/32(c)			40,725
		780,000	Omnicom Group Inc., Senior Unsecured Notes, 2.450% due 4/30/30			646,860
			Paramount Global, Senior Unsecured Notes:
		140,000	4.200% due 6/1/29			125,303
		343,000	4.950% due 1/15/31			305,950
		795,000	4.200% due 5/19/32			662,281
		360,000	4.375% due 3/15/43			248,537
		100,000	5.850% due 9/1/43			82,774

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Communications – (continued)
			Radiate Holdco LLC/Radiate Finance Inc.:
	$	35,000	Senior Secured Notes, 4.500% due 9/15/26(c)		$	27,278
		40,000	Senior Unsecured Notes, 6.500% due 9/15/28(c)			21,601
		315,000	Rogers Communications Inc., Company Guaranteed Notes, 4.550% due 3/15/52			244,078
		50,000	Scripps Escrow II Inc., Senior Secured Notes, 3.875% due 1/15/29(c)			40,142
		35,000	Scripps Escrow Inc., Company Guaranteed Notes, 5.875% due 7/15/27(c)			28,279
		230,000	Sirius XM Radio Inc., Company Guaranteed Notes, 5.500% due 7/1/29(c)			207,059
		2,750,250	Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC, Senior Secured Notes, 5.152% due 3/20/28(c)			2,726,821
		30,000	Telesat Canada/Telesat LLC, Company Guaranteed Notes, 6.500% due 10/15/27(c)			14,850
			T-Mobile USA Inc., Company Guaranteed Notes:
		1,035,000	2.250% due 2/15/26			957,051
		805,000	3.875% due 4/15/30			734,744
		2,001,000	2.875% due 2/15/31			1,682,394
		375,000	5.050% due 7/15/33			361,851
		95,000	Townsquare Media Inc., Senior Secured Notes, 6.875% due 2/1/26(c)			91,437
			Univision Communications Inc., Senior Secured Notes:
		75,000	4.500% due 5/1/29(c)			64,555
		150,000	7.375% due 6/30/30(c)			145,174
			Verizon Communications Inc., Senior Unsecured Notes:
		9,341,000	1.750% due 1/20/31			7,270,603
		141,000	2.550% due 3/21/31			116,069
		1,425,000	2.355% due 3/15/32			1,127,087
		200,000	VTR Finance NV, Senior Unsecured Notes, 6.375% due 7/15/28			91,030
		200,000	VZ Secured Financing BV, Senior Secured Notes, 5.000% due 1/15/32(c)			163,051
			Total Communications			49,277,415
Consumer Cyclical – 1.9%
		140,000	Academy Ltd., Senior Secured Notes, 6.000% due 11/15/27(c)			134,148
		5,000,000	Advance Auto Parts Inc., Company Guaranteed Notes, 3.900% due 4/15/30			4,330,372
		140,000	Air Canada, Senior Secured Notes, 3.875% due 8/15/26(c)			129,279
		40,000	AMC Entertainment Holdings Inc., Senior Secured Notes, 7.500% due 2/15/29(c)			27,302
		140,000	American Airlines Inc., Senior Secured Notes, 7.250% due 2/15/28(c)			137,525
		195,000	American Airlines Inc./AAdvantage Loyalty IP Ltd., Senior Secured Notes, 5.750% due 4/20/29(c)			186,494
		60,000	American Axle & Manufacturing Inc., Company Guaranteed Notes, 5.000% due 10/1/29			49,395
		145,000	Ashton Woods USA LLC/Ashton Woods Finance Co., Senior Unsecured Notes, 4.625% due 4/1/30(c)			124,882

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Consumer Cyclical – (continued)
	$	1,702,000	AutoZone Inc., Senior Unsecured Notes, 1.650% due 1/15/31		$	1,321,814
		120,000	BCPE Empire Holdings Inc., Senior Unsecured Notes, 7.625% due 5/1/27(c)			113,886
			Beacon Roofing Supply Inc.:
		35,000	Company Guaranteed Notes, 4.125% due 5/15/29(c)			30,100
		115,000	Senior Secured Notes, 6.500% due 8/1/30(c)			113,602
			Caesars Entertainment Inc.:
		5,000	Senior Secured Notes, 7.000% due 2/15/30(c)			5,019
		110,000	Senior Unsecured Notes, 4.625% due 10/15/29(c)			96,287
			Carnival Corp.:
		190,000	Company Guaranteed Notes, 5.750% due 3/1/27(c)			178,811
		135,000	Secured Notes, 9.875% due 8/1/27(c)			142,697
		95,000	Senior Secured Notes, 7.000% due 8/15/29(c)			96,393
		280,000	Cedar Fair LP, Company Guaranteed Notes, 5.250% due 7/15/29			252,048
		140,000	Clarios Global LP/Clarios US Finance Co., Senior Secured Notes, 6.750% due 5/15/28(c)			139,630
			Dana Inc., Senior Unsecured Notes:
		45,000	5.375% due 11/15/27			42,571
		20,000	4.250% due 9/1/30			16,445
		60,000	Dealer Tire LLC/DT Issuer LLC, Senior Unsecured Notes, 8.000% due 2/1/28(c)			56,004
		175,000	Dick’s Sporting Goods Inc., Senior Unsecured Notes, 4.100% due 1/15/52			113,661
			Dollar General Corp., Senior Unsecured Notes:
		300,000	4.250% due 9/20/24			295,281
		725,000	3.500% due 4/3/30			644,351
		585,000	Dollar Tree Inc., Senior Unsecured Notes, 4.000% due 5/15/25			567,540
		115,000	Dornoch Debt Merger Sub Inc., Senior Unsecured Notes, 6.625% due 10/15/29(c)			99,141
		185,000	eG Global Finance PLC, Senior Secured Notes, 8.500% due 10/30/25(c)			183,151
		165,000	Everi Holdings Inc., Company Guaranteed Notes, 5.000% due 7/15/29(c)			147,238
		70,000	Ferrellgas LP/Ferrellgas Finance Corp., Senior Unsecured Notes, 5.375% due 4/1/26(c)			65,802
		145,000	Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc., Company Guaranteed Notes, 6.750% due 1/15/30(c)			119,737
		300,000	Ford Motor Co., Senior Unsecured Notes, 3.250% due 2/12/32			234,183
		400,000	Ford Motor Credit Co. LLC, Senior Unsecured Notes, 4.950% due 5/28/27			375,341
		50,000	Full House Resorts Inc., Senior Secured Notes, 8.250% due 2/15/28(c)			44,487
		90,000	Gap Inc., Company Guaranteed Notes, 3.875% due 10/1/31(c)			65,219
			General Motors Financial Co., Inc., Senior Unsecured Notes:
		335,000	2.400% due 10/15/28			283,532
		160,000	3.100% due 1/12/32			128,199

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Consumer Cyclical – (continued)
	$	125,000	Goodyear Tire & Rubber Co., Company Guaranteed Notes, 5.250% due 7/15/31		$	107,656
		150,000	Group 1 Automotive Inc., Company Guaranteed Notes, 4.000% due 8/15/28(c)			133,185
		460,000	Hyundai Capital America, Senior Unsecured Notes, 5.680% due 6/26/28(c)			457,412
		155,000	Installed Building Products Inc., Company Guaranteed Notes, 5.750% due 2/1/28(c)			145,418
		40,000	Lions Gate Capital Holdings LLC, Company Guaranteed Notes, 5.500% due 4/15/29(c)			24,378
			Lowe’s Cos., Inc., Senior Unsecured Notes:
		755,000	4.400% due 9/8/25			741,302
		3,090,000	4.250% due 4/1/52			2,444,463
		1,160,000	5.625% due 4/15/53			1,126,570
		100,000	LSF9 Atlantis Holdings LLC/Victra Finance Corp., Senior Secured Notes, 7.750% due 2/15/26(c)			91,126
		130,000	M/I Homes Inc., Company Guaranteed Notes, 4.950% due 2/1/28			120,621
		765,000	Marriott International Inc., Senior Unsecured Notes, 2.850% due 4/15/31			635,162
		175,000	Mattamy Group Corp., Senior Unsecured Notes, 4.625% due 3/1/30(c)			154,671
			Michaels Cos., Inc.:
		80,000	Senior Secured Notes, 5.250% due 5/1/28(c)			66,700
		70,000	Senior Unsecured Notes, 7.875% due 5/1/29(c)			48,524
		110,000	Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp., Senior Secured Notes, 4.875% due 5/1/29(c)			95,700
		120,000	Murphy Oil USA Inc., Company Guaranteed Notes, 4.750% due 9/15/29			110,052
			NCL Corp., Ltd.:
		85,000	Company Guaranteed Notes, 5.875% due 3/15/26(c)			80,145
		85,000	Senior Secured Notes, 8.375% due 2/1/28(c)			87,615
		130,000	Ontario Gaming GTA LP, Senior Secured Notes, 8.000% due 8/1/30(c)			131,403
		605,000	O’Reilly Automotive Inc., Senior Unsecured Notes, 4.700% due 6/15/32			578,464
		55,000	Penn Entertainment Inc., Senior Unsecured Notes, 4.125% due 7/1/29(c)			44,981
		250,000	PetSmart Inc./PetSmart Finance Corp., Senior Secured Notes, 4.750% due 2/15/28(c)			224,257
		70,000	Premier Entertainment Sub LLC/Premier Entertainment Finance Corp., Company Guaranteed Notes, 5.625% due 9/1/29(c)			55,874
			Royal Caribbean Cruises Ltd.:
		20,000	Company Guaranteed Notes, 7.250% due 1/15/30(c)			20,304
		135,000	Senior Unsecured Notes, 5.500% due 8/31/26(c)			129,359
		145,000	Scientific Games Holdings LP/Scientific Games US FinCo Inc., Senior Unsecured Notes, 6.625% due 3/1/30(c)			127,819
		65,000	Scientific Games International Inc., Company Guaranteed Notes, 7.250% due 11/15/29(c)		��	65,274
		100,000	Scotts Miracle-Gro Co., Company Guaranteed Notes, 4.500% due 10/15/29			83,632

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Consumer Cyclical – (continued)
	$	120,000	Sonic Automotive Inc., Company Guaranteed Notes, 4.625% due 11/15/29(c)		$	102,587
		6,250,000	Southwest Airlines Co., Senior Unsecured Notes, 5.125% due 6/15/27			6,175,849
			SRS Distribution Inc.:
		75,000	Company Guaranteed Notes, 6.125% due 7/1/29(c)			65,211
		70,000	Senior Secured Notes, 4.625% due 7/1/28(c)			62,302
			Staples Inc.:
		100,000	Senior Secured Notes, 7.500% due 4/15/26(c)			82,740
		35,000	Senior Unsecured Notes, 10.750% due 4/15/27(c)			19,089
		70,000	Station Casinos LLC, Company Guaranteed Notes, 4.625% due 12/1/31(c)			57,706
		3,440,000	Steelcase Inc., Senior Unsecured Notes, 5.125% due 1/18/29			3,042,064
		165,000	Suburban Propane Partners LP/Suburban Energy Finance Corp., Senior Unsecured Notes, 5.000% due 6/1/31(c)			141,831
		130,000	Superior Plus LP/Superior General Partner Inc., Company Guaranteed Notes, 4.500% due 3/15/29(c)			114,397
		50,000	SWF Escrow Issuer Corp., Senior Unsecured Notes, 6.500% due 10/1/29(c)			32,485
		558,593	United Airlines 2012-1 Class A Pass-Through Trust, Pass-Thru Certificates, 4.150% due 4/11/24			551,656
		1,586,806	United Airlines 2016-2 Class B Pass-Through Trust, Pass-Thru Certificates, 3.650% due 10/7/25			1,495,518
		165,000	United Airlines Inc., Senior Secured Notes, 4.625% due 4/15/29(c)			146,710
		85,000	Victoria’s Secret & Co., Company Guaranteed Notes, 4.625% due 7/15/29(c)			61,543
			Viking Cruises Ltd.:
		145,000	Company Guaranteed Notes, 5.875% due 9/15/27(c)			135,575
		125,000	Senior Unsecured Notes, 9.125% due 7/15/31(c)			129,142
		5,000,000	Volkswagen Group of America Finance LLC, Company Guaranteed Notes, 1.250% due 11/24/25(c)			4,557,964
			Warnermedia Holdings Inc., Company Guaranteed Notes:
		680,000	3.755% due 3/15/27			637,784
		615,000	4.279% due 3/15/32			542,700
		3,435,000	5.141% due 3/15/52			2,738,071
		40,000	Wheel Pros Inc., Senior Unsecured Notes, 6.500% due 5/15/29(c)			11,800
		155,000	Wyndham Hotels & Resorts Inc., Company Guaranteed Notes, 4.375% due 8/15/28(c)			141,360
		130,000	Yum! Brands Inc., Senior Unsecured Notes, 4.750% due 1/15/30(c)			119,713
			Total Consumer Cyclical			40,389,431
Consumer Non-cyclical – 2.4%
			AbbVie Inc., Senior Unsecured Notes:
		655,000	3.850% due 6/15/24			645,544
		5,120,000	4.550% due 3/15/35			4,842,962
		510,000	4.250% due 11/21/49			429,501

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Consumer Non-cyclical – (continued)
	$	274,500	Adani International Container Terminal Pvt Ltd., Senior Secured Notes, 3.000% due 2/16/31(c)		$	208,038
			Adani Ports & Special Economic Zone Ltd., Senior Unsecured Notes:
		200,000	4.000% due 7/30/27			166,592
		200,000	4.375% due 7/3/29			159,261
		170,000	AdaptHealth LLC, Company Guaranteed Notes, 5.125% due 3/1/30(c)			139,449
		300,000	Agrosuper SA, Senior Unsecured Notes, 4.600% due 1/20/32			249,347
		35,000	Air Methods Corp., Senior Unsecured Notes, 8.000% due 5/15/25(c)			175
			Alcon Finance Corp., Company Guaranteed Notes:
		995,000	2.750% due 9/23/26(c)			918,748
		290,000	2.600% due 5/27/30(c)			244,575
		200,000	5.750% due 12/6/52(c)			203,305
			Allied Universal Holdco LLC/Allied Universal Finance Corp.:
		130,000	Senior Secured Notes, 6.625% due 7/15/26(c)			123,649
		90,000	Senior Unsecured Notes, 9.750% due 7/15/27(c)			82,660
			Amgen Inc., Senior Unsecured Notes:
		375,000	5.150% due 3/2/28			374,608
		310,000	5.250% due 3/2/30			310,429
		2,765,000	5.250% due 3/2/33			2,750,623
		1,110,000	5.650% due 3/2/53			1,100,393
		500,000	5.750% due 3/2/63			493,772
		3,487,000	Anheuser-Busch Cos., LLC/Anheuser-Busch InBev Worldwide Inc., Company Guaranteed Notes, 4.700% due 2/1/36			3,337,441
			APi Group DE Inc., Company Guaranteed Notes:
		90,000	4.125% due 7/15/29(c)			77,402
		115,000	4.750% due 10/15/29(c)			104,216
		355,000	Bacardi Ltd./Bacardi-Martini BV, Senior Unsecured Notes, 5.400% due 6/15/33(c)			345,811
			BAT Capital Corp., Company Guaranteed Notes:
		230,000	6.343% due 8/2/30			231,463
		73,000	4.742% due 3/16/32			66,001
		190,000	6.421% due 8/2/33			189,662
			Bausch Health Cos., Inc., Senior Secured Notes:
		45,000	6.125% due 2/1/27(c)			29,587
		140,000	4.875% due 6/1/28(c)			83,075
		55,000	11.000% due 9/30/28(c)			39,267
		600,000	Becton Dickinson & Co., Senior Unsecured Notes, 4.693% due 2/13/28			589,282
		200,000	BRF SA, Senior Unsecured Notes, 4.875% due 1/24/30			172,428
			Cargill Inc., Senior Unsecured Notes:
		660,000	2.125% due 11/10/31(c)			531,979

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Consumer Non-cyclical – (continued)
	$	280,000	4.000% due 6/22/32(c)		$	258,799
		320,000	4.750% due 4/24/33(c)			312,455
		65,000	Catalent Pharma Solutions Inc., Company Guaranteed Notes, 3.500% due 4/1/30(c)			54,859
			CHS/Community Health Systems Inc., Senior Secured Notes:
		70,000	6.000% due 1/15/29(c)			58,625
		85,000	4.750% due 2/15/31(c)			63,325
		325,000	CommonSpirit Health, Senior Secured Notes, 2.760% due 10/1/24			314,909
			Conagra Brands Inc., Senior Unsecured Notes:
		600,000	5.300% due 10/1/26			597,675
		845,000	4.850% due 11/1/28			822,585
			Constellation Brands Inc.:
		150,000	Company Guaranteed Notes, 3.150% due 8/1/29			134,020
		610,000	Senior Unsecured Notes, 2.875% due 5/1/30			526,382
			Coty Inc.:
		55,000	Company Guaranteed Notes, 6.500% due 4/15/26(c)			54,853
		95,000	Senior Secured Notes, 5.000% due 4/15/26(c)			91,322
		170,000	Coty Inc./HFC Prestige Products Inc./HFC Prestige International US LLC, Senior Secured Notes, 6.625% due 7/15/30(c)			170,031
			CSL Finance PLC, Company Guaranteed Notes:
		210,000	4.050% due 4/27/29(c)			198,995
		265,000	4.250% due 4/27/32(c)			248,602
			CVS Health Corp., Senior Unsecured Notes:
		670,000	5.125% due 2/21/30			659,928
		170,000	5.250% due 2/21/33			166,249
		330,000	5.300% due 6/1/33			323,203
		947,000	4.780% due 3/25/38			848,093
		335,000	5.875% due 6/1/53			327,252
		680,000	Elevance Health Inc., Senior Unsecured Notes, 4.100% due 5/15/32			626,589
			Encompass Health Corp., Company Guaranteed Notes:
		65,000	4.500% due 2/1/28			60,377
		20,000	4.750% due 2/1/30			18,217
		165,000	4.625% due 4/1/31			144,694
		50,000	Endo Luxembourg Finance Co. I SARL/Endo US Inc., Senior Secured Notes, 6.125% due 4/1/29(c)(d)(e)			35,549
			Estee Lauder Cos., Inc., Senior Unsecured Notes:
		300,000	4.375% due 5/15/28			292,762
		250,000	4.650% due 5/15/33			242,140
		100,000	5.150% due 5/15/53			96,935
		182,000	Fideicomiso PA Pacifico Tres, Senior Secured Notes, 8.250% due 1/15/35			165,165

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Consumer Non-cyclical – (continued)
	$	150,000	Fortrea Holdings Inc., Senior Secured Notes, 7.500% due 7/1/30(c)		$	146,813
		400,000	Frigorifico Concepcion SA, Senior Secured Notes, 7.700% due 7/21/28			338,768
			Garda World Security Corp.:
		220,000	Senior Secured Notes, 4.625% due 2/15/27(c)			203,524
		150,000	Senior Unsecured Notes, 6.000% due 6/1/29(c)			122,213
		510,000	GE HealthCare Technologies Inc., Company Guaranteed Notes, 5.857% due 3/15/30			518,342
		150,000	General Mills Inc., Senior Unsecured Notes, 4.950% due 3/29/33			146,320
		555,000	Gilead Sciences Inc., Senior Unsecured Notes, 1.650% due 10/1/30			445,877
		240,000	Grifols SA, Senior Unsecured Notes, 4.750% due 10/15/28(c)			210,559
			Haleon US Capital LLC, Company Guaranteed Notes:
		250,000	3.375% due 3/24/29			228,536
		250,000	3.625% due 3/24/32			222,084
			HCA Inc., Company Guaranteed Notes:
		340,000	4.125% due 6/15/29			314,060
		315,000	5.125% due 6/15/39			285,737
		40,000	Hertz Corp., Company Guaranteed Notes, 5.000% due 12/1/29(c)			32,888
		80,000	H-Food Holdings LLC/Hearthside Finance Co., Inc., Senior Unsecured Notes, 8.500% due 6/1/26(c)			31,400
			Humana Inc., Senior Unsecured Notes:
		555,000	3.700% due 3/23/29			513,844
		180,000	5.875% due 3/1/33			186,363
			Kaiser Foundation Hospitals, Unsecured Notes:
		90,000	2.810% due 6/1/41			63,950
		330,000	3.002% due 6/1/51			222,204
		185,000	Kenvue Inc., Company Guaranteed Notes, 5.100% due 3/22/43(c)			181,458
		4,167,000	Kraft Heinz Foods Co., Company Guaranteed Notes, 4.625% due 10/1/39			3,670,086
		90,000	Kronos Acquisition Holdings Inc./KIK Custom Products Inc., Senior Secured Notes, 5.000% due 12/31/26(c)			83,925
		75,000	Legacy LifePoint Health LLC, Senior Secured Notes, 4.375% due 2/15/27(c)			64,920
		75,000	Legends Hospitality Holding Co. LLC/Legends Hospitality Co.-Issuer Inc., Senior Secured Notes, 5.000% due 2/1/26(c)			70,478
		40,000	LifePoint Health Inc., Company Guaranteed Notes, 5.375% due 1/15/29(c)			27,653
		400,000	MARB BondCo PLC, Company Guaranteed Notes, 3.950% due 1/29/31			311,291
		450,000	McKesson Corp., Senior Unsecured Notes, 5.100% due 7/15/33			446,534
		210,000	Medline Borrower LP, Senior Unsecured Notes, 5.250% due 10/1/29(c)			186,485
		210,000	Merck & Co., Inc., Senior Unsecured Notes, 4.500% due 5/17/33			204,670
		150,000	Metis Merger Sub LLC, Senior Unsecured Notes, 6.500% due 5/15/29(c)			130,269
		200,000	Minerva Luxembourg SA, Company Guaranteed Notes, 4.375% due 3/18/31			159,164
		145,000	ModivCare Escrow Issuer Inc., Senior Unsecured Notes, 5.000% due 10/1/29(c)			106,938

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Consumer Non-cyclical – (continued)
	$	1,840,000	Mondelez International Inc., Senior Unsecured Notes, 1.500% due 2/4/31		$	1,427,678
		200,000	Organon & Co./Organon Foreign Debt Co.-Issuer BV, Senior Unsecured Notes, 5.125% due 4/30/31(c)			170,401
		140,000	Owens & Minor Inc., Company Guaranteed Notes, 6.625% due 4/1/30(c)			127,360
		25,000	PECF USS Intermediate Holding III Corp., Senior Unsecured Notes, 8.000% due 11/15/29(c)			15,944
		195,000	PepsiCo Inc., Senior Unsecured Notes, 3.600% due 2/18/28			186,799
		80,000	Performance Food Group Inc., Company Guaranteed Notes, 4.250% due 8/1/29(c)			70,405
			Philip Morris International Inc., Senior Unsecured Notes:
		675,000	5.125% due 11/17/27			673,732
		520,000	4.875% due 2/15/28			513,287
		295,000	5.625% due 11/17/29			298,273
		755,000	5.125% due 2/15/30			746,233
		455,000	5.375% due 2/15/33			449,296
			Post Holdings Inc., Company Guaranteed Notes:
		45,000	5.500% due 12/15/29(c)			41,627
		26,000	4.625% due 4/15/30(c)			23,036
		60,000	Prime Security Services Borrower LLC/Prime Finance Inc., Secured Notes, 6.250% due 1/15/28(c)			57,144
		70,000	Primo Water Holdings Inc., Company Guaranteed Notes, 4.375% due 4/30/29(c)			61,425
		815,000	Quanta Services Inc., Senior Unsecured Notes, 2.350% due 1/15/32			644,705
		40,000	Radiology Partners Inc., Company Guaranteed Notes, 9.250% due 2/1/28(c)			15,700
		55,000	RegionalCare Hospital Partners Holdings Inc./LifePoint Health Inc., Company Guaranteed Notes, 9.750% due 12/1/26(c)			51,418
			Royalty Pharma PLC, Company Guaranteed Notes:
		1,195,000	2.200% due 9/2/30			952,422
		95,000	2.150% due 9/2/31			73,720
		905,000	3.300% due 9/2/40			622,325
		60,000	RP Escrow Issuer LLC, Senior Secured Notes, 5.250% due 12/15/25(c)			46,213
		180,000	Rutas 2 & 7 Finance Ltd., Senior Secured Notes, zero coupon, due 9/30/36			115,124
		220,000	SEG Holding LLC/SEG Finance Corp., Senior Secured Notes, 5.625% due 10/15/28(c)			212,300
		110,000	Select Medical Corp., Company Guaranteed Notes, 6.250% due 8/15/26(c)			108,957
		625,000	Smithfield Foods Inc., Company Guaranteed Notes, 4.250% due 2/1/27(c)			581,597
		130,000	Spectrum Brands Inc., Company Guaranteed Notes, 5.000% due 10/1/29(c)			119,223
		55,000	Sutter Health, Unsecured Notes, 3.361% due 8/15/50			38,674
		290,000	Sysco Corp., Company Guaranteed Notes, 3.250% due 7/15/27			270,249
			Tenet Healthcare Corp.:
		90,000	Company Guaranteed Notes, 6.125% due 10/1/28			86,682

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Consumer Non-cyclical – (continued)
	$	100,000	Secured Notes, 6.250% due 2/1/27		$	98,469
		125,000	Senior Secured Notes, 6.125% due 6/15/30			121,126
		780,000	Triton Container International Ltd./TAL International Container Corp., Company Guaranteed Notes, 3.250% due 3/15/32			606,070
		65,000	Triton Water Holdings Inc., Senior Unsecured Notes, 6.250% due 4/1/29(c)			55,254
		80,000	United Natural Foods Inc., Company Guaranteed Notes, 6.750% due 10/15/28(c)			66,600
			UnitedHealth Group Inc., Senior Unsecured Notes:
		1,305,000	4.250% due 1/15/29			1,265,808
		580,000	4.000% due 5/15/29			554,451
		185,000	5.300% due 2/15/30			188,759
		290,000	4.200% due 5/15/32			273,964
		310,000	3.500% due 8/15/39			252,967
		185,000	5.875% due 2/15/53			197,858
		85,000	4.950% due 5/15/62			78,529
		145,000	6.050% due 2/15/63			157,954
		45,000	Upbound Group Inc., Company Guaranteed Notes, 6.375% due 2/15/29(c)			40,883
		185,000	Viatris Inc., Company Guaranteed Notes, 1.650% due 6/22/25			171,180
		135,000	VT Topco Inc., Senior Secured Notes, 8.500% due 8/15/30(c)			137,025
		120,000	WASH Multifamily Acquisition Inc., Senior Secured Notes, 5.750% due 4/15/26(c)			111,287
			Total Consumer Non-cyclical			50,213,321
Energy – 2.7%
		65,000	Aethon United BR LP/Aethon United Finance Corp., Senior Unsecured Notes, 8.250% due 2/15/26(c)			65,325
			AI Candelaria Spain SA, Senior Secured Notes:
		220,833	7.500% due 12/15/28			203,995
		250,000	5.750% due 6/15/33(c)			182,914
		145,000	Antero Midstream Partners LP/Antero Midstream Finance Corp., Company Guaranteed Notes, 5.750% due 3/1/27(c)			140,536
		70,000	Antero Resources Corp., Company Guaranteed Notes, 5.375% due 3/1/30(c)			65,448
		500,000	BG Energy Capital PLC, Company Guaranteed Notes, 5.125% due 10/15/41(c)			456,151
		55,000	Blue Racer Midstream LLC/Blue Racer Finance Corp., Senior Unsecured Notes, 7.625% due 12/15/25(c)			55,160
			BP Capital Markets America Inc., Company Guaranteed Notes:
		340,000	2.721% due 1/12/32			284,573
		3,080,000	4.812% due 2/13/33			2,981,244
		2,210,000	4.893% due 9/11/33			2,150,029
		350,000	2.939% due 6/4/51			228,515
		215,000	3.379% due 2/8/61			144,761
		145,000	Callon Petroleum Co., Company Guaranteed Notes, 7.500% due 6/15/30(c)			143,320

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Energy – (continued)
	$	695,000	Cheniere Energy Inc., Senior Secured Notes, 4.625% due 10/15/28		$	654,209
		230,000	Cheniere Energy Partners LP, Company Guaranteed Notes, 5.950% due 6/30/33(c)			229,532
		160,000	Chesapeake Energy Corp., Company Guaranteed Notes, 5.875% due 2/1/29(c)			153,132
		130,000	Chord Energy Corp., Company Guaranteed Notes, 6.375% due 6/1/26(c)			128,131
		150,000	Civitas Resources Inc., Company Guaranteed Notes, 8.375% due 7/1/28(c)			154,500
		125,000	CNX Midstream Partners LP, Company Guaranteed Notes, 4.750% due 4/15/30(c)			107,867
		150,000	CNX Resources Corp., Company Guaranteed Notes, 6.000% due 1/15/29(c)			142,855
		215,000	Columbia Pipelines Holding Co. LLC, Senior Unsecured Notes, 6.042% due 8/15/28(c)			217,009
			Columbia Pipelines Operating Co. LLC, Senior Unsecured Notes:
		70,000	5.927% due 8/15/30(c)			70,611
		355,000	6.036% due 11/15/33(c)			358,639
		2,645,000	6.544% due 11/15/53(c)			2,703,732
			ConocoPhillips Co., Company Guaranteed Notes:
		410,000	5.050% due 9/15/33			407,460
		255,000	3.800% due 3/15/52			196,349
		165,000	5.700% due 9/15/63			166,113
		300,000	Cosan Overseas Ltd., Company Guaranteed Notes, 8.250%(f)			298,500
		250,000	CQP Holdco LP/BIP-V Chinook Holdco LLC, Senior Secured Notes, 5.500% due 6/15/31(c)			228,120
		100,000	CSI Compressco LP/CSI Compressco Finance Inc., Senior Secured Notes, 7.500% due 4/1/25(c)			97,125
		525,000	Diamondback Energy Inc., Company Guaranteed Notes, 6.250% due 3/15/33			542,514
			Ecopetrol SA, Senior Unsecured Notes:
		100,000	5.875% due 5/28/45			70,494
		550,000	5.875% due 11/2/51			371,495
		400,000	EIG Pearl Holdings SARL, Senior Secured Notes, 3.545% due 8/31/36			332,000
			Enbridge Inc., Company Guaranteed Notes:
		935,000	5.700% due 3/8/33			935,431
		110,000	2.500% due 8/1/33			85,394
			Energy Transfer LP:
			Company Guaranteed Notes:
		395,000	5.000% due 5/15/44			321,624
		110,000	5.350% due 5/15/45			94,014
			Senior Unsecured Notes:
		285,000	4.750% due 1/15/26			279,043
		3,354,000	4.900% due 3/15/35			3,066,018
		1,683,000	5.950% due 10/1/43			1,536,832
		125,000	6.250% due 4/15/49			119,663

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Energy – (continued)
			Enterprise Products Operating LLC, Company Guaranteed Notes:
	$	6,000,000	4.150% due 10/16/28		$	5,730,803
		200,000	2.800% due 1/31/30			173,324
		375,000	5.350% due 1/31/33			377,088
			EQM Midstream Partners LP, Senior Unsecured Notes:
		140,000	6.500% due 7/1/27(c)			139,114
		85,000	4.750% due 1/15/31(c)			75,113
		440,000	Equinor ASA, Company Guaranteed Notes, 3.700% due 4/6/50			339,767
		370,000	Exxon Mobil Corp., Senior Unsecured Notes, 2.992% due 3/19/25			358,222
			Galaxy Pipeline Assets Bidco Ltd., Senior Secured Notes:
		354,840	2.160% due 3/31/34(c)			297,850
		341,946	2.940% due 9/30/40(c)			269,048
		237,463	2.940% due 9/30/40			186,839
		200,000	Geopark Ltd., Company Guaranteed Notes, 5.500% due 1/17/27			172,881
		200,000	Gran Tierra Energy Inc., Company Guaranteed Notes, 7.750% due 5/23/27(c)			158,955
		200,000	Gran Tierra Energy International Holdings Ltd., Company Guaranteed Notes, 6.250% due 2/15/25			176,713
			Greensaif Pipelines Bidco SARL, Senior Secured Notes:
		365,000	6.129% due 2/23/38(c)			366,203
		200,000	6.510% due 2/23/42(c)			202,354
		176,852	Guara Norte SARL, Senior Secured Notes, 5.198% due 6/15/34			154,736
		56,206	Gulfport Energy Corp., Company Guaranteed Notes, 8.000% due 5/17/26(c)			57,079
		175,000	Gulfport Energy Operating Corp., Company Guaranteed Notes, 6.375% due 5/15/25(d)			110
		245,000	Halliburton Co., Senior Unsecured Notes, 4.850% due 11/15/35			229,708
		475,000	Hess Corp., Senior Unsecured Notes, 7.300% due 8/15/31			518,571
			Hess Midstream Operations LP, Company Guaranteed Notes:
		145,000	5.125% due 6/15/28(c)			136,013
		165,000	4.250% due 2/15/30(c)			145,051
		80,000	5.500% due 10/15/30(c)			74,894
			Hilcorp Energy I LP/Hilcorp Finance Co., Senior Unsecured Notes:
		190,000	6.250% due 11/1/28(c)			183,288
		45,000	5.750% due 2/1/29(c)			41,737
		332,800	Hunt Oil Co. of Peru LLC Sucursal Del Peru, Senior Unsecured Notes, 6.375% due 6/1/28			316,713
		660,000	Kinder Morgan Inc., Company Guaranteed Notes, 5.200% due 6/1/33			632,224
		241,563	MC Brazil Downstream Trading SARL, Senior Secured Notes, 7.250% due 6/30/31			161,847
		35,000	Moss Creek Resources Holdings Inc., Company Guaranteed Notes, 7.500% due 1/15/26(c)			33,503

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Energy – (continued)
			MPLX LP, Senior Unsecured Notes:
	$	305,000	1.750% due 3/1/26		$	277,788
		210,000	4.000% due 3/15/28			197,145
		85,000	2.650% due 8/15/30			70,544
		60,000	4.950% due 9/1/32			56,683
		255,000	4.950% due 3/14/52			210,139
		90,000	Nabors Industries Ltd., Company Guaranteed Notes, 7.250% due 1/15/26(c)			86,577
		85,000	NGL Energy Operating LLC/NGL Energy Finance Corp., Senior Secured Notes, 7.500% due 2/1/26(c)			84,624
		75,000	NGL Energy Partners LP/NGL Energy Finance Corp., Company Guaranteed Notes, 7.500% due 4/15/26			72,105
		265,000	NuStar Logistics LP, Company Guaranteed Notes, 6.000% due 6/1/26			259,721
			Occidental Petroleum Corp., Senior Unsecured Notes:
		4,175,000	7.150% due 5/15/28			4,290,402
		270,000	6.625% due 9/1/30			278,725
		195,000	6.450% due 9/15/36			199,394
		200,000	Oleoducto Central SA, Senior Unsecured Notes, 4.000% due 7/14/27			179,454
			ONEOK Inc., Company Guaranteed Notes:
		150,000	4.350% due 3/15/29			140,235
		105,000	3.100% due 3/15/30			90,147
		255,000	6.100% due 11/15/32			259,026
		120,000	5.200% due 7/15/48			102,619
			Ovintiv Inc., Company Guaranteed Notes:
		100,000	5.650% due 5/15/28			99,235
		140,000	7.375% due 11/1/31			150,146
		225,000	6.250% due 7/15/33			224,604
			Parkland Corp., Company Guaranteed Notes:
		95,000	4.500% due 10/1/29(c)			83,706
		70,000	4.625% due 5/1/30(c)			61,710
		60,000	PBF Holding Co. LLC/PBF Finance Corp., Company Guaranteed Notes, 6.000% due 2/15/28			56,755
		500,000	Petrobras Global Finance BV, Company Guaranteed Notes, 6.750% due 6/3/50			460,600
			Petroleos del Peru SA, Senior Unsecured Notes:
		200,000	4.750% due 6/19/32			147,960
		200,000	5.625% due 6/19/47			127,984
		250,000	Petroleos Mexicanos, Company Guaranteed Notes, 6.750% due 9/21/47			154,733
			Phillips 66 Co., Company Guaranteed Notes:
		245,000	4.950% due 12/1/27			242,518
		95,000	5.300% due 6/30/33			94,040
		200,000	Pioneer Natural Resources Co., Senior Unsecured Notes, 5.100% due 3/29/26			198,445

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Energy – (continued)
	$	140,000	Plains All American Pipeline LP/PAA Finance Corp., Senior Unsecured Notes, 3.550% due 12/15/29@		$	123,080
			Sabine Pass Liquefaction LLC, Senior Secured Notes:
		425,000	5.000% due 3/15/27			417,809
		185,000	4.500% due 5/15/30			174,095
			Schlumberger Investment SA, Company Guaranteed Notes:
		2,315,000	2.650% due 6/26/30			2,002,008
		440,000	4.850% due 5/15/33			430,064
			Shell International Finance BV, Company Guaranteed Notes:
		450,000	3.250% due 4/6/50			319,326
		365,000	3.000% due 11/26/51			244,340
		95,000	Southwestern Energy Co., Company Guaranteed Notes, 4.750% due 2/1/32			84,156
		105,000	SunCoke Energy Inc., Senior Secured Notes, 4.875% due 6/30/29(c)			89,351
			Sunoco LP/Sunoco Finance Corp., Company Guaranteed Notes:
		55,000	6.000% due 4/15/27			54,425
		55,000	4.500% due 5/15/29			49,739
		190,000	Targa Resources Corp., Company Guaranteed Notes, 6.125% due 3/15/33			193,460
		825,000	Targa Resources Partners LP/Targa Resources Partners Finance Corp., Company Guaranteed Notes, 4.000% due 1/15/32			711,742
		6,275,000	Tennessee Gas Pipeline Co. LLC, Company Guaranteed Notes, 2.900% due 3/1/30(c)			5,371,579
		405,000	TransCanada PipeLines Ltd., Senior Unsecured Notes, 2.500% due 10/12/31@			322,699
		155,000	Transcontinental Gas Pipe Line Co. LLC, Senior Unsecured Notes, 3.250% due 5/15/30@			136,616
		153,750	Transocean Poseidon Ltd., Senior Secured Notes, 6.875% due 2/1/27(c)			152,797
		317,646	UEP Penonome II SA, Senior Secured Notes, 6.500% due 10/1/38(c)			242,896
		130,000	Venture Global Calcasieu Pass LLC, Senior Secured Notes, 4.125% due 8/15/31(c)			110,273
			Venture Global LNG Inc., Senior Secured Notes:
		95,000	8.125% due 6/1/28(c)			95,831
		65,000	8.375% due 6/1/31(c)			65,565
			Weatherford International Ltd.:
		85,000	Company Guaranteed Notes, 8.625% due 4/30/30(c)			87,058
		55,000	Senior Secured Notes, 6.500% due 9/15/28(c)			55,133
			Western Midstream Operating LP, Senior Unsecured Notes:
		155,000	4.050% due 2/1/30			138,261
		2,525,000	6.150% due 4/1/33			2,512,391
			Williams Cos., Inc., Senior Unsecured Notes:
		255,000	3.750% due 6/15/27			240,037
		475,000	2.600% due 3/15/31			389,821
		270,000	4.650% due 8/15/32			253,539

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security		Value
CORPORATE BONDS & NOTES – (continued)
Energy – (continued)
	$	390,000	5.650% due 3/15/33			$	392,171
			Total Energy				57,298,151
Financial – 9.5%
		4,195,000	AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Company Guaranteed Notes, 1.650% due 10/29/24				3,988,261
		535,000	Air Lease Corp., Senior Unsecured Notes, 3.250% due 3/1/25				512,017
		650,000	Alexandria Real Estate Equities Inc., Company Guaranteed Notes, 1.875% due 2/1/33				479,629
			Alliant Holdings Intermediate LLC/Alliant Holdings Co.-Issuer:	��
		145,000	Senior Secured Notes, 6.750% due 4/15/28(c)				142,856
		130,000	Senior Unsecured Notes, 6.750% due 10/15/27(c)				122,879
			American Express Co., Senior Unsecured Notes:
		625,000	3.950% due 8/1/25				606,429
		215,000	5.043% (SOFRRATE + 1.835%) due 5/1/34(b)				206,587
			American Tower Corp., Senior Unsecured Notes:
		475,000	3.650% due 3/15/27				445,913
		415,000	3.600% due 1/15/28				383,024
		1,680,000	3.950% due 3/15/29				1,545,716
		535,000	3.800% due 8/15/29				486,557
		2,618,000	2.100% due 6/15/30				2,088,767
		355,000	American Tower Trust #1, Asset Backed, 5.490% due 3/15/28(c)				353,853
		100,000	AmWINS Group Inc., Senior Unsecured Notes, 4.875% due 6/30/29(c)				89,725
			Aon Corp./Aon Global Holdings PLC, Company Guaranteed Notes:
		145,000	5.350% due 2/28/33				144,766
		185,000	3.900% due 2/28/52				141,930
		145,000	AssuredPartners Inc., Senior Unsecured Notes, 5.625% due 1/15/29(c)				125,965
		800,000	Athene Global Funding, Secured Notes, 2.646% due 10/4/31(c)				611,384
		790,000	Athene Holding Ltd., Senior Unsecured Notes, 3.950% due 5/25/51				552,325
			Avolon Holdings Funding Ltd.:
		250,000	Company Guaranteed Notes, 3.250% due 2/15/27(c)				224,847
		460,000	Senior Unsecured Notes, 2.125% due 2/21/26(c)				413,317
		200,000	Banco Davivienda SA, Junior Subordinated Notes, 6.650% (5-Year CMT Index + 5.097%)(b)(c)(f)				145,917
			Banco de Credito del Peru SA, Subordinated Notes:
		200,000	3.125% (5-Year CMT Index + 3.000%) due 7/1/30(b)				185,777
		200,000	3.250% (5-Year CMT Index + 2.450%) due 9/30/31(b)				178,486
		400,000	Banco do Brasil SA, Junior Subordinated Notes, 6.250% (5-Year CMT Index + 4.398%)(b)(f)				378,185
		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(b)(c)				183,677

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Financial – (continued)
	$	100,000	Banco GNB Sudameris SA, Subordinated Notes, 7.051% (5-Year CMT Index + 4.561%) due 4/3/27(b)		$	95,958
		150,000	Banco Industrial SA, Subordinated Notes, 4.875% (5-Year CMT Index + 4.442%) due 1/29/31(b)			139,155
		300,000	Banco Internacional del Peru SAA Interbank, Subordinated Notes, 4.000% (5-Year CMT Index + 3.711%) due 7/8/30(b)			275,250
		400,000	Banco Mercantil del Norte SA, Junior Subordinated Notes, 7.625% (5-Year CMT Index + 5.353%)(b)(f)			372,563
		200,000	Banco Nacional de Comercio Exterior SNC, Subordinated Notes, 2.720% (5-Year CMT Index + 2.000%) due 8/11/31(b)			167,732
		200,000	Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand, Subordinated Notes, 5.950% (5-Year CMT Index + 2.995%) due 10/1/28(b)			197,891
		400,000	Bancolombia SA, Subordinated Notes, 4.625% (5-Year CMT Index + 2.944%) due 12/18/29(b)			353,207
		200,000	Bank Hapoalim BM, Subordinated Notes, 3.255% (5-Year CMT Index + 2.155%) due 1/21/32(b)(c)			171,453
		200,000	Bank Leumi Le-Israel BM, Subordinated Notes, 3.275% (5-Year CMT Index + 1.631%) due 1/29/31(b)(c)			179,720
			Bank of America Corp.:
			Senior Unsecured Notes:
		130,000	3.841% (SOFRRATE + 1.110%) due 4/25/25(b)			128,126
		195,000	4.827% (SOFRRATE + 1.750%) due 7/22/26(b)			191,362
		710,000	5.202% (SOFRRATE + 1.630%) due 4/25/29(b)			699,266
		725,000	3.974% (3-Month TSFR + 1.472%) due 2/7/30(b)			667,501
		855,000	2.592% (SOFRRATE + 2.150%) due 4/29/31(b)			711,196
		7,070,000	1.922% (SOFRRATE + 1.370%) due 10/24/31(b)			5,538,831
		4,030,000	2.687% (SOFRRATE + 1.320%) due 4/22/32(b)			3,297,392
		240,000	2.572% (SOFRRATE + 1.210%) due 10/20/32(b)			192,376
		1,185,000	2.972% (SOFRRATE + 1.330%) due 2/4/33(b)			974,325
		1,250,000	Subordinated Notes, 2.482% (5-Year CMT Index + 1.200%) due 9/21/36(b)			949,559
		815,000	Bank of Montreal, Subordinated Notes, 3.088% (5-Year CMT Index + 1.400%) due 1/10/37(b)			628,751
		1,190,000	Bank of Nova Scotia, Senior Unsecured Notes, 3.450% due 4/11/25			1,149,491
			Barclays PLC:
			Senior Unsecured Notes:
		5,000,000	4.375% due 1/12/26			4,819,778
		500,000	7.385% (1-Year CMT Index + 3.300%) due 11/2/28(b)			520,517
		620,000	6.224% (SOFRRATE + 2.980%) due 5/9/34(b)			612,312
		200,000	Subordinated Notes, 7.119% (SOFRRATE + 3.570%) due 6/27/34(b)			199,730

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Financial – (continued)
			BBVA Bancomer SA, Subordinated Notes:
	$	200,000	5.350% (5-Year CMT Index + 3.000%) due 11/12/29(b)		$	193,099
		200,000	5.875% (5-Year CMT Index + 4.308%) due 9/13/34(b)			177,693
		6,135,000	Berkshire Hathaway Finance Corp., Company Guaranteed Notes, 3.850% due 3/15/52			4,887,258
		1,020,000	Blackstone Holdings Finance Co. LLC, Company Guaranteed Notes, 2.000% due 1/30/32(c)			764,287
			BNP Paribas SA, Senior Unsecured Notes:
		640,000	2.219% (SOFRRATE + 2.074%) due 6/9/26(b)(c)			597,912
		325,000	5.125% (1-Year CMT Index + 1.450%) due 1/13/29(b)(c)			318,405
		245,000	5.335% (1-Year CMT Index + 1.500%) due 6/12/29(b)(c)			241,409
			Boston Properties LP, Senior Unsecured Notes:
		3,000,000	3.400% due 6/21/29			2,566,219
		2,975,000	3.250% due 1/30/31			2,421,860
		520,000	BPCE SA, Senior Unsecured Notes, 2.045% (SOFRRATE + 1.087%) due 10/19/27(b)(c)			460,479
			Brighthouse Financial Global Funding, Senior Secured Notes:
		195,000	1.000% due 4/12/24(c)			189,067
		650,000	1.750% due 1/13/25(c)			612,511
		550,000	Brown & Brown Inc., Senior Unsecured Notes, 2.375% due 3/15/31			439,672
			Capital One Financial Corp., Senior Unsecured Notes:
		595,000	4.985% (SOFRRATE + 2.160%) due 7/24/26(b)			581,572
		85,000	1.878% (SOFRRATE + 0.855%) due 11/2/27(b)			74,515
		100,000	5.468% (SOFRRATE + 2.080%) due 2/1/29(b)			97,007
		470,000	6.312% (SOFRRATE + 2.640%) due 6/8/29(b)			469,743
		195,000	3.273% (SOFRRATE + 1.790%) due 3/1/30(b)			167,349
		550,000	5.247% (SOFRRATE + 2.600%) due 7/26/30(b)			523,208
		340,000	6.377% (SOFRRATE + 2.860%) due 6/8/34(b)			335,844
		2,301,000	Charles Schwab Corp., Senior Unsecured Notes, 2.750% due 10/1/29			1,978,987
			Citigroup Inc., Senior Unsecured Notes:
		1,365,000	3.668% (3-Month TSFR + 1.652%) due 7/24/28(b)			1,269,417
		3,555,000	2.976% (SOFRRATE + 1.422%) due 11/5/30(b)			3,057,175
		3,375,000	2.520% (SOFRRATE + 1.177%) due 11/3/32(b)			2,678,244
		440,000	Corebridge Financial Inc., Senior Unsecured Notes, 3.850% due 4/5/29			402,666
		650,000	Credit Agricole SA, Senior Unsecured Notes, 5.301% due 7/12/28(c)			648,794
		660,000	Credit Suisse AG, Senior Unsecured Notes, 7.500% due 2/15/28			705,872
		5,000,000	Credit Suisse Group AG, Senior Unsecured Notes, 4.194% (SOFRRATE + 3.730%) due 4/1/31(b)(c)			4,502,136
			Crown Castle Inc., Senior Unsecured Notes:
		170,000	3.800% due 2/15/28			158,113

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Financial – (continued)
	$	920,000	4.800% due 9/1/28		$	893,130
		675,000	4.300% due 2/15/29			633,891
		3,410,000	2.100% due 4/1/31			2,688,389
		200,000	DBS Group Holdings Ltd., Subordinated Notes, 1.822% (5-Year CMT Index + 1.100%) due 3/10/31(b)			180,928
			Deutsche Bank AG, Senior Unsecured Notes:
		755,000	2.129% (SOFRRATE + 1.870%) due 11/24/26(b)			684,987
		285,000	6.720% (SOFRRATE + 3.180%) due 1/18/29(b)			288,550
			Equinix Inc., Senior Unsecured Notes:
		525,000	3.200% due 11/18/29			459,925
		370,000	3.900% due 4/15/32			329,315
		635,000	2.950% due 9/15/51			395,173
		1,110,000	Equitable Financial Life Global Funding, Secured Notes, 1.800% due 3/8/28(c)			942,042
		60,000	Fifth Third Bancorp, Senior Unsecured Notes, 6.339% (SOFRRATE + 2.340%) due 7/27/29(b)			60,735
		6,134,000	Five Corners Funding Trust II, Senior Unsecured Notes, 2.850% due 5/15/30(c)			5,251,412
		216,982	Global Aircraft Leasing Co., Ltd., Senior Unsecured Notes, 6.500% due 9/15/24(c)(g)			203,789
		200,000	Global Bank Corp., Senior Unsecured Notes, 5.250% (3-Month USD-LIBOR + 3.300%) due 4/16/29(b)			187,700
		345,000	GLP Capital LP/GLP Financing II Inc., Company Guaranteed Notes, 5.300% due 1/15/29			325,302
			Goldman Sachs Group Inc., Senior Unsecured Notes:
		1,260,000	6.796% (3-Month TSFR + 1.432%) due 5/15/26(b)			1,263,672
		125,000	4.482% (SOFRRATE + 1.725%) due 8/23/28(b)			120,272
		300,000	1.992% (SOFRRATE + 1.090%) due 1/27/32(b)			233,644
		1,740,000	2.615% (SOFRRATE + 1.281%) due 4/22/32(b)			1,407,915
		900,000	2.383% (SOFRRATE + 1.248%) due 7/21/32(b)			711,405
		140,000	2.650% (SOFRRATE + 1.264%) due 10/21/32(b)			112,345
		725,000	Guardian Life Global Funding, Secured Notes, 1.250% due 5/13/26(c)			646,052
		65,000	Hightower Holding LLC, Company Guaranteed Notes, 6.750% due 4/15/29(c)			56,577
		690,000	Host Hotels & Resorts LP, Senior Unsecured Notes, 3.500% due 9/15/30			588,643
			HSBC Holdings PLC:
			Senior Unsecured Notes:
		440,000	5.887% (SOFRRATE + 1.570%) due 8/14/27(b)			438,620
		310,000	5.210% (SOFRRATE + 2.610%) due 8/11/28(b)			302,498
		410,000	6.161% (SOFRRATE + 1.970%) due 3/9/29(b)			412,776
		350,000	4.583% (3-Month TSFR + 1.796%) due 6/19/29(b)			330,428
		620,000	2.206% (SOFRRATE + 1.285%) due 8/17/29(b)			519,410
		1,335,000	5.402% (SOFRRATE + 2.870%) due 8/11/33(b)			1,274,379
		200,000	6.254% (SOFRRATE + 2.390%) due 3/9/34(b)			202,175

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security		Value
CORPORATE BONDS & NOTES – (continued)
Financial – (continued)
	$	1,215,000	Subordinated Notes, 6.547% (SOFRRATE + 2.980%) due 6/20/34(b)			$	1,192,769
		65,000	HUB International Ltd., Senior Secured Notes, 7.250% due 6/15/30(c)				66,163
			Huntington Bancshares Inc., Senior Unsecured Notes:
		120,000	6.208% (SOFRRATE + 2.020%) due 8/21/29(b)				120,788
		1,735,000	5.023% (SOFRRATE + 2.050%) due 5/17/33(b)				1,606,661
		250,000	Huntington National Bank, Senior Unsecured Notes, 5.650% due 1/10/30				243,263
		165,000	Intercontinental Exchange Inc., Senior Unsecured Notes, 4.350% due 6/15/29				158,125
		530,000	Intesa Sanpaolo SpA, Senior Unsecured Notes, 6.625% due 6/20/33(c)				523,043
		755,000	Invitation Homes Operating Partnership LP, Company Guaranteed Notes, 2.700% due 1/15/34				573,396
			Iron Mountain Inc., Company Guaranteed Notes:
		155,000	7.000% due 2/15/29(c)				154,576
		80,000	4.500% due 2/15/31(c)				68,724
			JPMorgan Chase & Co., Senior Unsecured Notes:
		620,000	3.960% (3-Month TSFR + 1.507%) due 1/29/27(b)				596,322
		325,000	4.851% (SOFRRATE + 1.990%) due 7/25/28(b)				318,485
		730,000	3.509% (3-Month TSFR + 1.207%) due 1/23/29(b)				672,973
		605,000	5.299% (SOFRRATE + 1.450%) due 7/24/29(b)				601,544
		5,817,000	2.522% (SOFRRATE + 2.040%) due 4/22/31(b)				4,878,888
		770,000	2.580% (3-Month TSFR + 1.250%) due 4/22/32(b)				630,330
		2,780,000	2.545% (SOFRRATE + 1.180%) due 11/8/32(b)				2,245,801
		755,000	2.963% (SOFRRATE + 1.260%) due 1/25/33(b)				627,274
		2,925,000	4.912% (SOFRRATE + 2.080%) due 7/25/33(b)				2,813,095
		4,655,000	KeyBank NA, Senior Unsecured Notes, 5.000% due 1/26/33				4,043,288
		300,000	Kimco Realty OP LLC, Company Guaranteed Notes, 4.450% due 1/15/24				297,929
		90,000	LFS Topco LLC, Company Guaranteed Notes, 5.875% due 10/15/26(c)				77,851
		2,180,000	Lloyds Banking Group PLC, Senior Unsecured Notes, 4.976% (1-Year CMT Index + 2.300%) due 8/11/33(b)				2,017,869
		880,000	Macquarie Group Ltd., Senior Unsecured Notes, 2.871% (SOFRRATE + 1.532%) due 1/14/33(b)(c)				689,809
		1,015,000	Manufacturers & Traders Trust Co., Senior Unsecured Notes, 4.700% due 1/27/28				948,856
		360,000	Marsh & McLennan Cos., Inc., Senior Unsecured Notes, 4.750% due 3/15/39				333,083
		740,000	Massachusetts Mutual Life Insurance Co., Subordinated Notes, 3.375% due 4/15/50(c)				511,631
			MetLife Inc., Senior Unsecured Notes:	��
		330,000	5.375% due 7/15/33				328,503
		655,000	5.250% due 1/15/54				620,763
		1,235,000	Metropolitan Life Global Funding I, Secured Notes, 2.400% due 1/11/32(c)				1,001,441

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Financial – (continued)
			Morgan Stanley:
			Senior Unsecured Notes:
	$	7,000,000	3.772% (3-Month TSFR + 1.402%) due 1/24/29(b)		$	6,492,724
		580,000	5.123% (SOFRRATE + 1.730%) due 2/1/29(b)			568,476
		155,000	5.164% (SOFRRATE + 1.590%) due 4/20/29(b)			152,029
		180,000	5.449% (SOFRRATE + 1.630%) due 7/20/29(b)			178,943
		3,135,000	2.699% (SOFRRATE + 1.143%) due 1/22/31(b)			2,638,654
		485,000	1.928% (SOFRRATE + 1.020%) due 4/28/32(b)			373,972
		185,000	2.511% (SOFRRATE + 1.200%) due 10/20/32(b)			147,316
			Subordinated Notes:
		1,530,000	2.484% (SOFRRATE + 1.360%) due 9/16/36(b)			1,153,872
		90,000	5.948% (5-Year CMT Index + 2.430%) due 1/19/38(b)			87,516
		200,000	Multibank Inc., Senior Unsecured Notes, 7.750% due 2/3/28(c)			203,020
			Nasdaq Inc., Senior Unsecured Notes:
		240,000	5.350% due 6/28/28			240,099
		530,000	5.550% due 2/15/34			529,076
		80,000	6.100% due 6/28/63			78,938
		145,000	Nationstar Mortgage Holdings Inc., Company Guaranteed Notes, 5.750% due 11/15/31(c)			125,143
		380,000	NatWest Group PLC, Senior Unsecured Notes, 5.847% (1-Year CMT Index + 1.350%) due 3/2/27(b)			377,744
		100,000	Navient Corp., Senior Unsecured Notes, 5.000% due 3/15/27			90,958
			OneMain Finance Corp., Company Guaranteed Notes:
		115,000	7.125% due 3/15/26			113,130
		90,000	5.375% due 11/15/29			77,742
		1,545,000	Ontario Teachers’ Cadillac Fairview Properties Trust, Senior Unsecured Notes, 2.500% due 10/15/31(c)			1,215,554
		200,000	Oversea-Chinese Banking Corp., Ltd., Subordinated Notes, 1.832% (5-Year CMT Index + 1.580%) due 9/10/30(b)			184,144
		195,000	Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co.-Issuer, Senior Secured Notes, 4.875% due 5/15/29(c)			169,163
		160,000	PennyMac Financial Services Inc., Company Guaranteed Notes, 4.250% due 2/15/29(c)			132,442
			PNC Financial Services Group Inc.:
		3,245,000	Senior Unsecured Notes, 5.068% (SOFRRATE + 1.933%) due 1/24/34(b)			3,073,657
		4,450,000	Subordinated Notes, 4.626% (SOFRRATE + 1.850%) due 6/6/33(b)			4,029,138
		425,000	Principal Financial Group Inc., Company Guaranteed Notes, 5.375% due 3/15/33			421,268
		80,000	Realogy Group LLC/Realogy Co.-Issuer Corp., Company Guaranteed Notes, 5.250% due 4/15/30(c)			55,533
		320,000	Realty Income Corp., Senior Unsecured Notes, 5.050% due 1/13/26			318,365

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Financial – (continued)
			Royal Bank of Canada, Senior Unsecured Notes:
	$	3,720,000	6.024% (SOFRRATE + 0.710%) due 1/21/27(b)		$	3,675,873
		375,000	5.200% due 8/1/28			372,419
		145,000	Ryan Specialty LLC, Senior Secured Notes, 4.375% due 2/1/30(c)			129,600
		735,000	Santander Holdings USA Inc., Senior Unsecured Notes, 2.490% (SOFRRATE + 1.249%) due 1/6/28(b)			644,437
		2,575,000	SBA Tower Trust, Asset Backed, 1.631% due 11/15/26(c)			2,240,076
		1,905,000	Simon Property Group LP, Senior Unsecured Notes, 2.200% due 2/1/31			1,517,642
		1,335,000	Societe Generale SA, Subordinated Notes, 6.221% (1-Year CMT Index + 3.200%) due 6/15/33(b)(c)			1,254,222
		565,000	Standard Chartered PLC, Senior Unsecured Notes, 7.767% (1-Year CMT Index + 3.450%) due 11/16/28(b)(c)			598,374
			Toronto-Dominion Bank, Senior Unsecured Notes:
		655,000	4.693% due 9/15/27			638,849
		2,638,000	3.200% due 3/10/32			2,247,306
		3,050,000	4.456% due 6/8/32			2,841,009
			Truist Financial Corp., Senior Unsecured Notes:
		255,000	4.873% (SOFRRATE + 1.435%) due 1/26/29(b)			244,642
		3,295,000	5.122% (SOFRRATE + 1.852%) due 1/26/34(b)			3,090,690
			UBS Group AG, Senior Unsecured Notes:
		435,000	4.751% (1-Year CMT Index + 1.750%) due 5/12/28(b)(c)			417,651
		260,000	6.442% (SOFRRATE + 3.700%) due 8/11/28(b)(c)			264,753
		3,600,000	2.746% (1-Year CMT Index + 1.100%) due 2/11/33(b)(c)			2,835,993
		1,420,000	6.537% (SOFRRATE + 3.920%) due 8/12/33(b)(c)			1,474,765
		5,160,000	UDR Inc., Company Guaranteed Notes, 3.200% due 1/15/30			4,543,972
		423,000	Unifin Financiera SAB de CV, Junior Subordinated Notes, 8.875% (5-Year CMT Index + 6.308%)(d)(e)(f)			423
			United Overseas Bank Ltd., Subordinated Notes:
		200,000	1.750% (5-Year CMT Index + 1.520%) due 3/16/31(b)			179,646
		200,000	2.000% (5-Year CMT Index + 1.230%) due 10/14/31(b)			176,902
		45,000	Uniti Group LP/Uniti Group Finance Inc./CSL Capital LLC, Senior Secured Notes, 10.500% due 2/15/28(c)			44,894
		6,006,000	US Bancorp, Subordinated Notes, 2.491% (5-Year CMT Index + 0.950%) due 11/3/36(b)			4,426,160
		5,650,000	Ventas Realty LP, Company Guaranteed Notes, 3.850% due 4/1/27			5,293,156
			VICI Properties LP, Senior Unsecured Notes:
		270,000	4.950% due 2/15/30			253,962
		470,000	5.125% due 5/15/32			435,605
			Wells Fargo & Co., Senior Unsecured Notes:
		620,000	3.000% due 4/22/26			581,162
		395,000	3.908% (SOFRRATE + 1.320%) due 4/25/26(b)			381,878

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Financial – (continued)
	$	1,130,000	3.526% (SOFRRATE + 1.510%) due 3/24/28(b)		$	1,051,378
		685,000	3.584% (3-Month TSFR + 1.572%) due 5/22/28(b)			635,944
		710,000	4.808% (SOFRRATE + 1.980%) due 7/25/28(b)			688,683
		845,000	5.574% (SOFRRATE + 1.740%) due 7/25/29(b)			841,500
		615,000	3.350% (SOFRRATE + 1.500%) due 3/2/33(b)			517,900
		260,000	4.897% (SOFRRATE + 2.100%) due 7/25/33(b)			244,644
		5,955,000	5.389% (SOFRRATE + 2.020%) due 4/24/34(b)			5,800,215
		230,000	5.013% (3-Month TSFR + 4.502%) due 4/4/51(b)			207,684
			Welltower OP LLC, Company Guaranteed Notes:
		760,000	2.050% due 1/15/29			636,852
		5,725,000	2.750% due 1/15/32			4,628,649
		745,000	Westpac Banking Corp., Subordinated Notes, 3.020% (5-Year CMT Index + 1.530%) due 11/18/36(b)			570,723
		650,000	Willis North America Inc., Company Guaranteed Notes, 2.950% due 9/15/29			563,500
			XHR LP, Senior Secured Notes:
		100,000	6.375% due 8/15/25(c)			98,799
		295,000	4.875% due 6/1/29(c)			255,239
			Total Financial			201,378,453
Industrial – 0.9%
			Advanced Drainage Systems Inc., Company Guaranteed Notes:
		130,000	5.000% due 9/30/27(c)			124,150
		50,000	6.375% due 6/15/30(c)			49,252
		200,000	Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, Senior Unsecured Notes, 4.000% due 9/1/29(c)			162,560
		525,000	Arrow Electronics Inc., Senior Unsecured Notes, 3.875% due 1/12/28			485,954
		267,172	Bioceanico Sovereign Certificate Ltd., Senior Secured Notes, zero coupon, due 6/5/34			188,461
			Boeing Co., Senior Unsecured Notes:
		500,000	5.040% due 5/1/27			494,496
		745,000	2.950% due 2/1/30			644,934
		160,000	5.150% due 5/1/30			157,414
		140,000	Bombardier Inc., Senior Unsecured Notes, 7.875% due 4/15/27(c)			139,638
			Builders FirstSource Inc., Company Guaranteed Notes:
		140,000	5.000% due 3/1/30(c)			128,601
		90,000	4.250% due 2/1/32(c)			76,515
		100,000	6.375% due 6/15/32(c)			97,494
			Cemex SAB de CV, Subordinated Notes:
		200,000	5.125% (5-Year CMT Index + 4.534%)(b)(f)			185,584
		200,000	9.125% (5-Year CMT Index + 5.157%)(b)(c)(f)			208,936
		45,000	Clean Harbors Inc., Company Guaranteed Notes, 5.125% due 7/15/29(c)			42,593

See Notes to Financial Statements.

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Industrial – (continued)
	$	55,000	Clydesdale Acquisition Holdings Inc., Senior Secured Notes, 6.625% due 4/15/29(c)		$	52,335
		100,000	Coherent Corp., Company Guaranteed Notes, 5.000% due 12/15/29(c)			88,820
		100,000	Cornerstone Building Brands Inc., Company Guaranteed Notes, 6.125% due 1/15/29(c)			81,185
		870,000	CSX Corp., Senior Unsecured Notes, 3.350% due 9/15/49			617,072
		1,115,000	DAE Funding LLC, Company Guaranteed Notes, 1.550% due 8/1/24(c)			1,063,815
		95,000	Eaton Corp., Company Guaranteed Notes, 4.350% due 5/18/28			93,278
		60,000	Energizer Holdings Inc., Company Guaranteed Notes, 6.500% due 12/31/27(c)			57,967
		120,000	Fortress Transportation & Infrastructure Investors LLC, Company Guaranteed Notes, 5.500% due 5/1/28(c)			111,470
		50,000	GrafTech Finance Inc., Senior Secured Notes, 4.625% due 12/15/28(c)			39,250
		115,000	Griffon Corp., Company Guaranteed Notes, 5.750% due 3/1/28			107,180
		140,000	Ingersoll Rand Inc., Senior Unsecured Notes, 5.700% due 8/14/33			141,961
		675,000	Jacobs Engineering Group Inc., Company Guaranteed Notes, 5.900% due 3/1/33			667,836
		75,000	JELD-WEN Inc., Company Guaranteed Notes, 4.875% due 12/15/27(c)			66,748
		90,323	Lima Metro Line 2 Finance Ltd., Senior Secured Notes, 5.875% due 7/5/34			88,596
			Madison IAQ LLC:
		70,000	Senior Secured Notes, 4.125% due 6/30/28(c)			61,931
		150,000	Senior Unsecured Notes, 5.875% due 6/30/29(c)			126,300
		168,118	MV24 Capital BV, Senior Secured Notes, 6.748% due 6/1/34			151,523
		520,000	Northrop Grumman Corp., Senior Unsecured Notes, 5.150% due 5/1/40			498,775
		775,000	Otis Worldwide Corp., Senior Unsecured Notes, 2.565% due 2/15/30			662,758
		100,000	Pactiv Evergreen Group Issuer LLC/Pactiv Evergreen Group Issuer Inc., Senior Secured Notes, 4.375% due 10/15/28(c)			88,750
		160,000	Parker-Hannifin Corp., Senior Unsecured Notes, 4.250% due 9/15/27			155,211
			Penske Truck Leasing Co. LP/PTL Finance Corp., Senior Unsecured Notes:
		375,000	5.750% due 5/24/26(c)			372,403
		290,000	4.200% due 4/1/27(c)			273,042
		450,000	4.400% due 7/1/27(c)			424,997
		170,000	6.050% due 8/1/28(c)			170,148
		440,000	6.200% due 6/15/30(c)			441,971
			Regal Rexnord Corp., Company Guaranteed Notes:
		1,085,000	6.050% due 4/15/28(c)			1,073,509
		135,000	6.300% due 2/15/30(c)			134,405
		100,000	Roller Bearing Co. of America Inc., Senior Unsecured Notes, 4.375% due 10/15/29(c)			89,467
		295,000	RTX Corp., Senior Unsecured Notes, 5.150% due 2/27/33			291,636
		70,000	Seaspan Corp., Senior Unsecured Notes, 5.500% due 8/1/29(c)			54,408
		180,000	Standard Industries Inc., Senior Unsecured Notes, 4.375% due 7/15/30(c)			154,299

See Notes to Financial Statements.

100

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Industrial – (continued)
	$	89,000	Tervita Corp., Secured Notes, 11.000% due 12/1/25(c)		$	92,868
		105,000	Titan Acquisition Ltd./Titan Co.-Borrower LLC, Senior Unsecured Notes, 7.750% due 4/15/26(c)			102,050
			TransDigm Inc.:
			Senior Secured Notes:
		220,000	6.250% due 3/15/26(c)			217,903
		230,000	6.875% due 12/15/30(c)			231,518
		140,000	Company Guaranteed Notes, 5.500% due 11/15/27			132,863
		95,000	Trident TPI Holdings Inc., Company Guaranteed Notes, 12.750% due 12/31/28(c)			98,810
		605,000	Waste Management Inc., Company Guaranteed Notes, 4.875% due 2/15/29			600,267
			WRKCo Inc., Company Guaranteed Notes:
		550,000	3.750% due 3/15/25			533,460
		5,245,000	3.900% due 6/1/28			4,866,708
		170,000	XPO Inc., Company Guaranteed Notes, 7.125% due 6/1/31(c)			170,904
			Total Industrial			18,736,979
Technology – 0.6%
		165,000	AthenaHealth Group Inc., Senior Unsecured Notes, 6.500% due 2/15/30(c)			143,298
		135,000	Booz Allen Hamilton Inc., Company Guaranteed Notes, 5.950% due 8/4/33			136,542
		15,000	Boxer Parent Co., Inc., Senior Secured Notes, 7.125% due 10/2/25(c)			15,019
			Broadcom Inc., Senior Unsecured Notes:
		787,000	3.419% due 4/15/33(c)			652,129
		582,000	4.926% due 5/15/37(c)			524,282
		40,000	Castle US Holding Corp., Senior Unsecured Notes, 9.500% due 2/15/28(c)			21,800
			CDW LLC/CDW Finance Corp., Company Guaranteed Notes:
		210,000	2.670% due 12/1/26			190,358
		180,000	3.569% due 12/1/31			152,203
		145,000	Central Parent LLC/CDK Global II LLC/CDK Financing Co., Inc., Senior Secured Notes, 8.000% due 6/15/29(c)			145,942
		80,000	Clarivate Science Holdings Corp., Company Guaranteed Notes, 4.875% due 7/1/29(c)			69,765
		155,000	Dun & Bradstreet Corp., Company Guaranteed Notes, 5.000% due 12/15/29(c)			139,109
		200,000	Helios Software Holdings Inc./ION Corporate Solutions Finance SARL, Senior Secured Notes, 4.625% due 5/1/28(c)			172,000
		210,000	Hewlett Packard Enterprise Co., Senior Unsecured Notes, 5.900% due 10/1/24			210,188
			Intel Corp., Senior Unsecured Notes:
		130,000	5.125% due 2/10/30			130,230
		160,000	3.250% due 11/15/49			109,145
		1,580,000	5.700% due 2/10/53			1,564,664
		450,000	5.050% due 8/5/62			399,726

See Notes to Financial Statements.

101

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Technology – (continued)
			Marvell Technology Inc., Company Guaranteed Notes:
	$	495,000	1.650% due 4/15/26		$	449,219
		205,000	2.450% due 4/15/28			179,788
		770,000	Microchip Technology Inc., Senior Unsecured Notes, 2.670% due 9/1/23			770,000
		455,000	Microsoft Corp., Senior Unsecured Notes, 2.921% due 3/17/52			322,653
		520,000	NetApp Inc., Senior Unsecured Notes, 1.875% due 6/22/25			487,318
			NVIDIA Corp., Senior Unsecured Notes:
		695,000	2.850% due 4/1/30			623,758
		5,000	3.500% due 4/1/40			4,162
		500,000	NXP BV/NXP Funding LLC, Company Guaranteed Notes, 4.875% due 3/1/24			496,966
			NXP BV/NXP Funding LLC/NXP USA Inc., Company Guaranteed Notes:
		470,000	3.875% due 6/18/26			450,237
		250,000	4.300% due 6/18/29			234,117
			Oracle Corp., Senior Unsecured Notes:
		335,000	6.150% due 11/9/29			348,716
		165,000	2.950% due 4/1/30			143,024
		55,000	6.250% due 11/9/32			57,567
		365,000	4.900% due 2/6/33			348,663
		325,000	3.800% due 11/15/37			262,092
		15,000	3.600% due 4/1/40			11,352
		2,509,000	3.600% due 4/1/50			1,734,131
		210,000	Qorvo Inc., Company Guaranteed Notes, 1.750% due 12/15/24(c)			196,946
		35,000	Virtusa Corp., Senior Unsecured Notes, 7.125% due 12/15/28(c)			28,656
		635,000	Workday Inc., Senior Unsecured Notes, 3.700% due 4/1/29			586,755
			Total Technology			12,512,520
Utilities – 2.9%
		200,000	Adani Electricity Mumbai Ltd., Senior Secured Notes, 3.867% due 7/22/31			139,041
		665,000	AEP Texas Inc., Senior Unsecured Notes, 3.450% due 1/15/50			459,276
		450,000	Alabama Power Co., Senior Unsecured Notes, 3.450% due 10/1/49			319,299
		155,000	Arizona Public Service Co., Senior Unsecured Notes, 5.550% due 8/1/33			155,139
			Berkshire Hathaway Energy Co., Senior Unsecured Notes:
		610,000	6.125% due 4/1/36			638,418
		1,100,000	5.950% due 5/15/37			1,118,744
		50,000	4.600% due 5/1/53			41,196
		155,000	Boston Gas Co., Senior Unsecured Notes, 3.757% due 3/16/32(c)			134,416
		800,000	Brooklyn Union Gas Co., Senior Unsecured Notes, 4.866% due 8/5/32(c)			735,248
			Calpine Corp.:
		95,000	Senior Secured Notes, 4.500% due 2/15/28(c)			87,944
		75,000	Senior Unsecured Notes, 4.625% due 2/1/29(c)			65,175
		200,000	Chile Electricity PEC SpA, Senior Secured Notes, zero coupon, due 1/25/28(c)			155,644

See Notes to Financial Statements.

102

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Utilities – (continued)
	$	150,000	Clearway Energy Operating LLC, Company Guaranteed Notes, 4.750% due 3/15/28(c)		$	138,697
			Cleco Corporate Holdings LLC:
		70,000	Senior Secured Notes, 4.973% due 5/1/46			56,157
		180,000	Senior Unsecured Notes, 3.375% due 9/15/29			152,482
		400,000	Consolidated Edison Co. of New York Inc., Senior Unsecured Notes, 3.200% due 12/1/51			267,976
			Dominion Energy Inc., Senior Unsecured Notes:
		3,215,000	3.375% due 4/1/30			2,834,942
		1,185,000	5.375% due 11/15/32			1,166,642
		30,000	6.300% due 3/15/33			31,358
			DTE Energy Co., Senior Unsecured Notes:
		325,000	step bond to yield, 4.220% due 11/1/24			318,764
		645,000	4.875% due 6/1/28			630,687
			Duke Energy Carolinas LLC, 1st Mortgage Notes:
		1,225,000	5.300% due 2/15/40			1,192,935
		255,000	3.550% due 3/15/52			185,442
			Duke Energy Corp., Senior Unsecured Notes:
		4,000,000	0.900% due 9/15/25			3,651,543
		1,030,000	2.650% due 9/1/26			952,982
		165,000	2.450% due 6/1/30			137,252
		1,455,000	2.550% due 6/15/31			1,188,404
		450,000	4.500% due 8/15/32			418,746
		155,000	5.000% due 8/15/52			135,847
		75,000	Duke Energy Ohio Inc., 1st Mortgage Notes, 5.250% due 4/1/33			75,181
		430,000	Edison International, Senior Unsecured Notes, 5.250% due 11/15/28			419,801
		156,450	Empresa Electrica Angamos SA, Senior Secured Notes, 4.875% due 5/25/29			141,001
		120,160	Empresa Electrica Cochrane SpA, Senior Secured Notes, 5.500% due 5/14/27			111,749
		200,000	Empresas Publicas de Medellin ESP, Senior Unsecured Notes, 4.375% due 2/15/31			155,239
		445,000	Enel Finance International NV, Senior Unsecured Notes, 5.000% due 6/15/32(c)			416,120
			Entergy Louisiana LLC, 1st Mortgage Notes:
		1,100,000	4.950% due 1/15/45			971,483
		210,000	4.750% due 9/15/52			182,437
		915,000	Essential Utilities Inc., Senior Unsecured Notes, 3.351% due 4/15/50			607,003
		780,000	Evergy Inc., Senior Unsecured Notes, 2.900% due 9/15/29			678,624
			Eversource Energy, Senior Unsecured Notes:
		165,000	4.750% due 5/15/26			162,348
		150,000	5.450% due 3/1/28			150,503

See Notes to Financial Statements.

103

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Utilities – (continued)
	$	960,000	5.125% due 5/15/33		$	928,888
			Exelon Corp., Senior Unsecured Notes:
		915,000	5.150% due 3/15/28			908,387
		120,000	4.100% due 3/15/52			92,847
		141,176	Fenix Power Peru SA, Senior Unsecured Notes, 4.317% due 9/20/27			130,941
		125,000	Florida Power & Light Co., 1st Mortgage Notes, 5.100% due 4/1/33			125,001
			Georgia Power Co., Senior Unsecured Notes:
		205,000	4.650% due 5/16/28			199,911
		415,000	4.700% due 5/15/32			396,220
		290,000	4.950% due 5/17/33			280,602
		380,000	ITC Holdings Corp., Senior Unsecured Notes, 2.950% due 5/14/30(c)			324,781
		168,000	JSW Hydro Energy Ltd., Senior Secured Notes, 4.125% due 5/18/31			141,691
		270,000	Kentucky Utilities Co., 1st Mortgage Notes, 5.450% due 4/15/33			272,716
		275,000	KeySpan Gas East Corp., Senior Unsecured Notes, 5.994% due 3/6/33(c)			272,989
		90,000	Leeward Renewable Energy Operations LLC, Company Guaranteed Notes, 4.250% due 7/1/29(c)			78,240
		643,680	LLPL Capital Pte Ltd., Senior Secured Notes, 6.875% due 2/4/39(c)			567,723
		195,000	Louisville Gas & Electric Co., 1st Mortgage Notes, 5.450% due 4/15/33			197,181
		400,000	Mercury Chile Holdco LLC, Senior Secured Notes, 6.500% due 1/24/27(c)			369,923
		500,000	Minejesa Capital BV, Senior Secured Notes, 5.625% due 8/10/37			392,419
		250,000	Mong Duong Finance Holdings BV, Senior Secured Notes, 5.125% due 5/7/29			225,520
		330,000	Monongahela Power Co., 1st Mortgage Notes, 5.400% due 12/15/43(c)			309,121
		135,000	National Grid PLC, Senior Unsecured Notes, 5.602% due 6/12/28			135,288
			National Rural Utilities Cooperative Finance Corp.:
			Secured Notes:
		615,000	4.150% due 12/15/32			561,872
		140,000	5.800% due 1/15/33			144,507
		130,000	Senior Unsecured Notes, 4.800% due 3/15/28			128,545
			NextEra Energy Capital Holdings Inc., Company Guaranteed Notes:
		290,000	4.255% due 9/1/24			285,389
		95,000	6.051% due 3/1/25			95,375
		1,125,000	4.625% due 7/15/27			1,097,119
		1,455,000	2.250% due 6/1/30			1,196,031
		135,000	5.050% due 2/28/33			130,659
			NiSource Inc., Senior Unsecured Notes:
		1,619,000	3.600% due 5/1/30			1,450,981
		50,000	5.400% due 6/30/33			49,522
		200,000	NRG Energy Inc., Company Guaranteed Notes, 3.625% due 2/15/31(c)			156,086
		410,000	Oglethorpe Power Corp., 1st Mortgage Notes, 5.050% due 10/1/48			353,328
		200,000	Ohio Edison Co., Senior Unsecured Notes, 5.500% due 1/15/33(c)			197,840

See Notes to Financial Statements.

104

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Utilities – (continued)
	$	480,000	Ohio Power Co., Senior Unsecured Notes, 5.000% due 6/1/33		$	467,775
		2,855,000	Oklahoma Gas & Electric Co., Senior Unsecured Notes, 5.600% due 4/1/53			2,838,537
			Pacific Gas & Electric Co.:
			1st Mortgage Notes:
		1,385,000	5.450% due 6/15/27			1,354,107
		205,000	6.100% due 1/15/29			202,593
		665,000	4.550% due 7/1/30			598,010
		1,925,000	2.500% due 2/1/31			1,502,182
		470,000	6.150% due 1/15/33			457,706
		930,000	6.400% due 6/15/33			917,314
		525,000	4.950% due 7/1/50			405,943
		135,000	6.750% due 1/15/53			131,213
		610,000	Senior Secured Notes, 3.250% due 6/1/31			494,524
		170,000	Pike Corp., Company Guaranteed Notes, 5.500% due 9/1/28(c)			152,984
		150,000	PPL Capital Funding Inc., Company Guaranteed Notes, 4.125% due 4/15/30			137,850
			Puget Energy Inc., Senior Secured Notes:
		535,000	3.650% due 5/15/25			513,525
		230,000	4.100% due 6/15/30			205,714
		625,000	Sempra, Senior Unsecured Notes, 3.400% due 2/1/28			578,348
		288,278	Southaven Combined Cycle Generation LLC, Secured Notes, 3.846% due 8/15/33			263,878
			Southern California Edison Co., 1st Mortgage Notes:
		580,000	4.900% due 6/1/26			576,393
		155,000	5.850% due 11/1/27			158,657
		230,000	5.300% due 3/1/28			230,859
		130,000	2.850% due 8/1/29			114,370
		325,000	2.250% due 6/1/30			269,969
		545,000	4.125% due 3/1/48			429,527
		5,000,000	4.875% due 3/1/49			4,340,553
			Southern California Gas Co., 1st Mortgage Notes:
		555,000	5.200% due 6/1/33			545,004
		5,955,000	5.750% due 6/1/53			5,891,106
			Southern Co., Senior Unsecured Notes:
		535,000	4.850% due 6/15/28			523,975
		1,015,000	3.700% due 4/30/30			918,547
		455,000	5.200% due 6/15/33			442,572
		555,000	Southwestern Electric Power Co., Senior Unsecured Notes, 5.300% due 4/1/33			543,293
		665,000	Virginia Electric & Power Co., Senior Unsecured Notes, 5.000% due 4/1/33			646,746
		230,000	Xcel Energy Inc., Senior Unsecured Notes, 4.600% due 6/1/32			214,779
			Total Utilities			60,848,081

See Notes to Financial Statements.

105

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
			TOTAL CORPORATE BONDS & NOTES (Cost – $568,465,067)		$	504,244,213
COLLATERALIZED MORTGAGE OBLIGATIONS – 21.3%
	$	841,553	510 Asset Backed Trust, Series 2021-NPL1, Class A1, step bond to yield, 2.240% due 6/25/61(c)(d)			783,288
		289,468	Ajax Mortgage Loan Trust, Series 2021-C, Class A, step bond to yield, 2.115% due 1/25/61(c)			272,989
			Alternative Loan Trust:
		566,168	Series 2005-28CB, Class 1A7, 5.500% due 8/25/35			479,262
		4,979,455	Series 2005-7CB, Class 2A2, 0.000% (1-Month TSFR + 4.936%) due 3/1/38(b)(h)			128,294
		4,979,455	Series 2005-7CB, Class 2A5, 5.500% (1-Month TSFR + 0.564%) due 3/1/38(b)			3,707,390
		3,968,682	Series 2006-OA2, Class A1, 5.848% (1-Month TSFR + 0.534%) due 5/20/46(b)			3,320,031
		2,156,624	Series 2007-4CB, Class 1A1, 5.750% (1-Month TSFR + 0.714%) due 4/25/37(b)			1,657,979
		6,442,926	Series 2007-9T1, Class 2A2, 6.000% due 5/25/37			2,965,010
			Angel Oak Mortgage Trust:
		347,581	Series 2020-R1, Class A1, 0.990% due 4/25/53(b)(c)			312,298
		390,767	Series 2021-1, Class A1, 0.909% due 1/25/66(b)(c)			321,995
		343,139	Series 2021-2, Class A1, 0.985% due 4/25/66(b)(c)			280,399
		646,179	Series 2021-3, Class A1, 1.068% due 5/25/66(b)(c)			535,106
		536,018	Series 2021-4, Class A1, 1.035% due 1/20/65(b)(c)			429,790
		828,673	Series 2021-5, Class A1, 0.951% due 7/25/66(b)(c)			685,322
		1,219,283	Series 2021-6, Class A1, 1.458% due 9/25/66(b)(c)			962,233
		1,401,733	Series 2022-1, Class A1, step bond to yield, 2.881% due 12/25/66(c)			1,229,508
			Arbor Multifamily Mortgage Securities Trust:
		7,965,000	Series 2020-MF1, Class A5, 2.756% due 5/15/53(c)			6,808,241
		1,485,000	Series 2021-MF2, Class A5, 2.513% due 6/15/54(c)			1,211,302
		1,920,000	Series 2021-MF2, Class C, 2.809% due 6/15/54(b)(c)			1,303,697
		2,550,000	Series 2022-MF4, Class A5, 3.403% due 2/15/55(b)(c)			2,199,457
		2,600,000	Series 2022-MF4, Class B, 3.403% due 2/15/55(b)(c)			2,040,055
		500,000	BAMLL Commercial Mortgage Securities Trust, Series 2018-DSNY, Class C, 6.708% (1-Month TSFR + 1.397%) due 9/15/34(b)(c)			496,280
			BANK:
		10,059,985	Series 2017-BNK4, Class XA, 1.499% due 5/15/50(b)(h)			372,211
		15,475,675	Series 2018-BN10, Class XA, 0.835% due 2/15/61(b)(h)			385,415
		7,540,000	Series 2020-BN30, Class A4, 1.925% due 12/15/53			5,831,784
		6,449,686	Series 2022-BNK39, Class XA, 0.533% due 2/15/55(b)(h)			176,679
		1,691,473	Series 2023-BNK45, Class XA, 1.204% due 2/15/56(b)(h)			110,452

See Notes to Financial Statements.

106

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)
	$	5,310,000	Series 2023-BNK46, Class A4, 5.745% due 8/15/56		$	5,417,497
			BBCMS Mortgage Trust:
		1,236,000	Series 2018-TALL, Class F, 8.743% (1-Month TSFR + 3.432%) due 3/15/37(b)(c)			586,588
		1,800,000	Series 2020-C6, Class A4, 2.639% due 2/15/53			1,520,885
		1,469,354	Series 2020-C7, Class XA, 1.732% due 4/15/53(b)(h)			96,830
		305,000	Series 2022-C15, Class A5, 3.662% due 4/15/55(b)			267,685
		280,000	Series 2022-C16, Class A5, 4.600% due 6/15/55(b)			263,845
		365,000	Series 2022-C18, Class A4, 5.439% due 12/15/55(b)			367,758
		120,000	Series 2022-C18, Class A5, 5.710% due 12/15/55(b)			122,397
		2,040,027	Bear Stearns ALT-A Trust, Series 2006-1, Class 21A2, 4.126% due 2/25/36(b)			1,425,865
			Benchmark Mortgage Trust:
		1,835,000	Series 2019-B15, Class A5, 2.928% due 12/15/72			1,542,143
		2,362,570	Series 2020-B22, Class XA, 1.627% due 1/15/54(b)(h)			195,012
		6,232,276	Series 2023-B39, Class XA, 0.724% due 7/15/56(b)(h)			257,976
		397,396	BINOM Securitization Trust, Series 2021-INV1, Class A1, 2.034% due 6/25/56(b)(c)			338,579
			BRAVO Residential Funding Trust:
		1,028,373	Series 2021-C, Class A1, step bond to yield, 1.620% due 3/1/61(c)			920,159
		223,620	Series 2021-NQM1, Class A1, 0.941% due 2/25/49(b)(c)			195,020
		191,519	Series 2021-NQM2, Class A1, 0.970% due 3/25/60(b)(c)			177,874
		4,700,000	Series 2023-NQM5, Class A1, step bond to yield, 6.505% due 6/25/63(c)			4,701,813
		1,265,943	BX, Series 2021-MFM1, Class D, 6.924% (1-Month TSFR + 1.614%) due 1/15/34(b)(c)			1,234,526
			BX Commercial Mortgage Trust:
		544,000	Series 2019-XL, Class D, 6.875% (1-Month TSFR + 1.564%) due 10/15/36(b)(c)			539,183
		1,819,000	Series 2019-XL, Class E, 7.225% (1-Month TSFR + 1.914%) due 10/15/36(b)(c)			1,800,594
		3,145,000	Series 2019-XL, Class F, 7.425% (1-Month TSFR + 2.114%) due 10/15/36(b)(c)			3,109,199
		500,000	Series 2021-CIP, Class A, 6.345% (1-Month TSFR + 1.035%) due 12/15/38(b)(c)			489,649
		2,900,000	Series 2021-VOLT, Class C, 6.525% (1-Month TSFR + 1.214%) due 9/15/36(b)(c)			2,772,622
		536,000	Series 2021-VOLT, Class E, 7.425% (1-Month TSFR + 2.114%) due 9/15/36(b)(c)			507,751
			BX Trust:
		1,529,000	Series 2019-OC11, Class E, 4.075% due 12/9/41(b)(c)			1,244,427
		1,400,000	Series 2021-ARIA, Class A, 6.324% (1-Month TSFR + 1.014%) due 10/15/36(b)(c)			1,363,985

See Notes to Financial Statements.

107

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)
	$	1,265,000	Series 2022-GPA, Class C, 8.523% (1-Month TSFR + 3.213%) due 8/15/42(b)(c)		$	1,262,619
			CAMB Commercial Mortgage Trust:
		851,000	Series 2019-LIFE, Class A, 6.495% (1-Month TSFR + 1.184%) due 12/15/37(b)(c)			846,695
		5,900,000	Series 2021-CX2, Class C, 2.864% due 11/10/46(b)(c)			4,387,241
		258,478	Cascade MH Asset Trust, Series 2021-MH1, Class A1, 1.753% due 2/25/46(c)			219,790
		15,902,736	CD Mortgage Trust, Series 2017-CD4, Class XA, 1.379% due 5/10/50(b)(h)			536,881
		1,834,000	CGDB Commercial Mortgage Trust, Series 2019-MOB, Class E, 7.425% (1-Month TSFR + 2.114%) due 11/15/36(b)(c)			1,744,910
			CIM Trust:
		1,062,335	Series 2021-R6, Class A1, 1.425% due 7/25/61(b)(c)			905,687
		5,259,515	Series 2023-R2, Class A1, 5.500% due 8/25/64(b)(c)			5,205,172
			Citigroup Commercial Mortgage Trust:
		1,415,000	Series 2015-GC31, Class A4, 3.762% due 6/10/48			1,349,131
		31,184,515	Series 2015-GC35, Class XA, 0.859% due 11/10/48(b)(h)			371,167
		805,000	Series 2016-P4, Class B, 3.377% due 7/10/49			702,376
		7,640,000	Series 2019-GC43, Class A4, 3.038% due 11/10/52			6,514,070
		2,850,000	Series 2023-SMRT, Class B, 6.048% due 6/10/28(b)(c)			2,778,313
			COLT Mortgage Loan Trust:
		565,132	Series 2021-1, Class A1, 0.910% due 6/25/66(b)(c)			453,426
		544,783	Series 2021-2, Class A1, 0.924% due 8/25/66(b)(c)			417,075
		155,725	Series 2021-2R, Class A1, 0.798% due 7/27/54(c)			135,487
		985,855	Series 2021-3, Class A1, 0.956% due 9/27/66(b)(c)			761,940
		1,309,707	Series 2021-HX1, Class A1, 1.110% due 10/25/66(b)(c)			1,052,474
		1,376,654	Series 2022-1, Class A1, 2.284% due 12/27/66(b)(c)			1,175,869
			Commercial Mortgage Trust:
		1,050,000	Series 2015-CR23, Class A4, 3.497% due 5/10/48			1,004,892
		3,035,000	Series 2020-CX, Class A, 2.173% due 11/10/46(c)			2,368,971
		2,615,000	Series 2020-CX, Class B, 2.446% due 11/10/46(c)			2,037,148
		1,150,000	Series 2020-CX, Class C, 2.773% due 11/10/46(b)(c)			886,149
		3,750,000	Series 2020-SBX, Class C, 2.056% due 1/10/38(b)(c)			3,145,886
		203,000	Series 2022-HC, Class A, 2.819% due 1/10/39(c)			169,314
		300,000	Series 2022-HC, Class C, 3.376% due 1/10/39(c)			236,896
			Connecticut Avenue Securities Trust:
		138,807	Series 2022-R08, Class 1M1, 7.838% (SOFR30A + 2.550%) due 7/25/42(b)(c)			141,441
		347,010	Series 2023-R03, Class 2M1, 7.788% (SOFR30A + 2.500%) due 4/25/43(b)(c)			350,699
		238,955	Series 2023-R04, Class 1M1, 7.596% (SOFR30A + 2.300%) due 5/25/43(b)(c)			242,696

See Notes to Financial Statements.

108

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)
	$	695,929	Series 2023-R05, Class 1M1, 7.196% (SOFR30A + 1.900%) due 6/25/43(b)(c)		$	698,977
		322,296	Series 2023-R06, Class 1M1, 6.988% (SOFR30A + 1.700%) due 7/25/43(b)(c)			322,296
			Credit Suisse Commercial Mortgage Capital Trust:
		1,233,210	Series 2018-RPL9, Class A, 3.850% due 9/25/57(b)(c)			1,149,468
		418,248	Series 2021-AFC1, Class A1, 0.830% due 3/25/56(b)(c)			313,425
		504,354	Series 2021-NQM5, Class A1, 0.938% due 5/25/66(b)(c)			389,233
		3,073,946	Series 2021-RPL3, Class A1, 2.000% due 1/25/60(b)(c)			2,612,234
		356,882	Series 2021-RPL4, Class A1, 1.796% due 12/27/60(b)(c)			335,998
			Credit Suisse Mortgage Capital Certificates:
		109,727	Series 2019-ICE4, Class D, 6.958% (1-Month TSFR + 1.647%) due 5/15/36(b)(c)			108,979
		5,494,331	Series 2019-ICE4, Class E, 7.508% (1-Month TSFR + 2.197%) due 5/15/36(b)(c)			5,442,840
			CSAIL Commercial Mortgage Trust:
		1,985,982	Series 2015-C4, Class A3, 3.544% due 11/15/48			1,910,328
		824,000	Series 2016-C7, Class B, 4.473% due 11/15/49(b)			724,553
		1,205,000	Series 2018-C14, Class C, 5.064% due 11/15/51(b)			924,924
		1,373,937	CSFB Mortgage-Backed Pass-Through Certificates, Series 2005-9, Class 5A6, 5.500% due 10/25/35			742,701
			CSMC:
		1,012,265	Series 2010-8R, Class 5A11, 4.521% due 2/26/37(b)(c)			948,967
		538,732	Series 2020-NET, Class A, 2.257% due 8/15/37(c)			485,561
		183,000	Series 2021-B33, Class A1, 3.053% due 10/10/43(c)			151,592
		650,000	Series 2021-B33, Class A2, 3.167% due 10/10/43(c)			473,575
		176,361	Series 2021-NQM1, Class A1, 0.809% due 5/25/65(b)(c)			147,000
		719,018	Series 2021-NQM2, Class A1, 1.179% due 2/25/66(b)(c)			599,572
		791,937	Series 2021-NQM4, Class A1, 1.101% due 5/25/66(b)(c)			650,428
		1,377,618	Series 2021-NQM6, Class A1, 1.174% due 7/25/66(b)(c)			1,093,766
		618,223	Series 2021-NQM8, Class A1, 1.841% due 10/25/66(b)(c)			510,255
		1,488,156	Series 2022-NQM1, Class A1, 2.265% due 11/25/66(b)(c)			1,242,035
		3,545,399	DBGS Mortgage Trust, Series 2018-BIOD, Class E, 7.306% (1-Month TSFR + 1.996%) due 5/15/35(b)(c)			3,468,374
			DBJPM Mortgage Trust:
		21,195,000	Series 2017-C6, Class XB, 0.335% due 6/10/50(b)(h)			228,809
		2,221,416	Series 2020-C9, Class XA, 1.824% due 9/15/53(b)(h)			135,702
		610,000	DC Office Trust, Series 2019-MTC, Class A, 2.965% due 9/15/45(c)			491,893
			Deephaven Residential Mortgage Trust:
		120,128	Series 2021-1, Class A1, 0.715% due 5/25/65(b)(c)			109,534
		228,834	Series 2021-2, Class A1, 0.899% due 4/25/66(b)(c)			196,519
		6,724,737	Series 2022-2, Class A1, 4.300% due 3/25/67(b)(c)			6,243,334

See Notes to Financial Statements.

109

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)
	$	4,336,939	DSLA Mortgage Loan Trust, Series 2005-AR4, Class 1A, 5.948% (1-Month TSFR + 0.634%) due 8/19/45(b)		$	3,087,012
			Ellington Financial Mortgage Trust:
		87,581	Series 2021-1, Class A1, 0.797% due 2/25/66(b)(c)			72,993
		230,277	Series 2021-2, Class A1, 0.931% due 6/25/66(b)(c)			183,464
		880,931	Series 2021-3, Class A1, 1.241% due 9/25/66(b)(c)			677,803
		691,305	Series 2022-1, Class A1, 2.206% due 1/25/67(b)(c)			570,725
			Federal Home Loan Mortgage Corp. (FHLMC). REMICS:
		611,465	Series 3835, Class FO, 0.000% due 4/15/41(i)			483,084
		1,056,118	Series 4116, Class AP, 1.350% due 8/15/42			889,066
		3,952,231	Series 4223, Class SB, 0.000% (SOFR30A + 5.293%) due 7/15/43(b)			2,626,365
		1,000,000	Series 4265, Class GL, 3.000% due 4/15/42			844,447
		712,385	Series 4447, Class IO, 5.000% due 3/15/45(h)			148,363
		740,651	Series 4504, Class DZ, 3.500% due 8/15/45			671,321
		131,491	Series 4518, Class CZ, 3.500% due 10/15/45			117,071
		9,371,413	Series 4655, Class CZ, 3.000% due 2/15/47			7,910,970
		22,070,486	Series 4726, Class Z, 3.500% due 10/15/47			19,595,392
		161,375	Series 4751, Class PL, 3.000% due 12/15/47			122,061
		4,346,181	Series 4892, Class ES, 0.748% (SOFR30A + 6.036%) due 7/25/45(b)(h)			423,855
		357,709	Series 5018, Class LW, 1.000% due 10/25/40			280,216
		717,493	Series 5083, Class AI, 2.500% due 3/25/51(h)			101,007
		1,631,712	Series 5092, Class WI, 2.500% due 4/25/36(h)			162,830
		877,508	Series 5169, Class IO, 3.000% due 9/25/51(h)			142,058
		593,609	Series 5201, Class PA, 2.500% due 3/25/52			518,327
		159,000	Series 5228, Class JL, 2.500% due 10/25/41			122,863
			Federal National Mortgage Association (FNMA), Aces:
		32,726,570	Series 2020-M12, Class IO, 1.404% due 7/25/29(b)(h)			1,622,731
		10,118,880	Series 2020-M15, Class X1, 1.582% due 9/25/31(b)(h)			662,600
		20,802,316	Series 2020-M7, Class X2, 1.331% due 3/25/31(b)(h)			1,296,887
		5,807,766	Series 2022-M4, Class A1X, 2.548% due 5/25/30(b)			5,191,231
		7,133,048	Series 2022-M5, Class A1, 2.437% due 1/1/34(b)			6,309,089
			Federal National Mortgage Association (FNMA), Interest Strip:
		1,216,446	Series 426, Class C38, 2.000% due 3/25/52(h)			154,027
		781,838	Series 429, Class C3, 2.500% due 9/25/52(h)			122,273
			Federal National Mortgage Association (FNMA), REMICS:
		471,000	Series 2011-142, Class PE, 3.500% due 1/25/42			423,005
		116,614	Series 2011-51, Class TO, zero coupon, due 6/25/41(i)			85,815
		649,816	Series 2012-120, Class ZB, 3.500% due 11/25/42			587,712
		501,401	Series 2013-15, Class ZV, 3.000% due 3/25/43			434,670
		137,606	Series 2013-2, Class MA, 3.500% due 2/25/43			126,647
		1,072,000	Series 2013-62, Class PY, 2.500% due 6/25/43			872,620

See Notes to Financial Statements.

110

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)
	$	1,376,646	Series 2013-72, Class IW, 3.500% due 7/25/33(h)		$	111,943
		2,823,041	Series 2014-11, Class KZ, 2.500% due 10/25/41			2,445,646
		534,810	Series 2014-95, Class ZC, 3.000% due 1/25/45			457,952
		590,260	Series 2015-55, Class PD, 2.500% due 3/25/43			557,201
		676,051	Series 2016-3, Class MI, 5.500% due 2/25/46(h)			106,499
		511,152	Series 2016-43, Class GZ, 3.000% due 7/25/46			427,223
		786,487	Series 2017-105, Class ZE, 3.000% due 1/25/48			599,100
		10,138	Series 2017-107, Class GA, 3.000% due 8/25/45			10,088
		692,941	Series 2017-22, Class BZ, 3.500% due 4/25/47			616,119
		7,731,019	Series 2017-24, Class LG, 3.000% due 4/25/37			6,832,273
		561,180	Series 2018-91, Class BE, 3.500% due 12/25/58			504,234
		386,026	Series 2020-35, Class AI, 3.000% due 6/25/50(h)			61,724
		671,287	Series 2020-74, Class HI, 5.500% due 10/25/50(h)			129,435
		1,935,523	Series 2020-99, Class KI, 1.500% due 11/25/35(h)			107,058
		986,674	Series 2021-3, Class NI, 2.500% due 2/25/51(h)			133,610
		934,426	Series 2021-3, Class TI, 2.500% due 2/25/51(h)			160,695
		11,368,129	Series 2021-4, Class GD, 1.000% due 2/25/51			8,435,342
		993,241	Series 2021-95, Class GI, 3.000% due 1/25/52(h)			152,511
		857,105	Series 2022-3, Class PI, 3.000% due 1/25/52(h)			107,697
			FMC GMSR Issuer Trust:
		4,000,000	Series 2021-GT1, Class A, 3.620% due 7/25/26(b)(c)			3,342,700
		3,420,000	Series 2021-GT2, Class A, 3.850% due 10/25/26(b)(c)			2,844,001
			Freddie Mac Multifamily Structured Pass-Through Certificates:
		105,921,064	Series K064, Class X1, 0.735% due 3/25/27(b)(h)			1,871,721
		27,883,664	Series K066, Class X1, 0.885% due 6/25/27(b)(h)			638,483
		2,070,882	Series K118, Class X1, 1.051% due 9/25/30(b)(h)			107,842
		63,530,685	Series K119, Class X1, 1.024% due 9/25/30(b)(h)			3,194,882
		29,065,058	Series K120, Class X1, 1.132% due 10/25/30(b)(h)			1,595,948
		41,281,909	Series K121, Class X1, 1.119% due 10/25/30(b)(h)			2,267,888
		12,717,993	Series K122, Class X1, 0.971% due 11/25/30(b)(h)			612,766
		23,890,316	Series K124, Class X1, 0.810% due 12/25/30(b)(h)			972,436
		53,738,524	Series K125, Class X1, 0.674% due 1/25/31(b)(h)			1,775,166
		30,628,701	Series K129, Class X1, 1.142% due 5/25/31(b)(h)			1,783,834
		30,149,170	Series K130, Class X1, 1.143% due 6/25/31(b)(h)			1,881,565
		55,981,533	Series K132, Class X1, 0.608% due 8/25/31(b)(h)			1,810,140
		30,203,714	Series K-1519, Class X1, 0.693% due 12/25/35(b)(h)			1,380,784
		1,500,000	Series Q001, Class A3, 3.815% due 2/25/32			1,387,118
		5,000,000	Freddie Mac STACR REMIC Trust, Series 2021-HQA2, Class M2, 7.338% (SOFR30A + 2.050%) due 12/25/33(b)(c)			4,903,530
			Freddie Mac Strips:
		854,295	Series 303, Class C10, 3.500% due 1/15/33(h)			87,599

See Notes to Financial Statements.

111

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)
	$	944,071	Series 375, Class C1, 2.500% due 1/25/51(h)		$	138,360
		877,486	Series 386, Class C14, 2.500% due 3/15/52(h)			124,432
		2,900,174	Series 389, Class C1, 1.500% due 5/15/37(h)			169,256
		1,295,820	Series 389, Class C35, 2.000% due 6/15/52(h)			160,556
			Freddie Mac Structured Agency Credit Risk Debt Notes:
		100,104	Series 2022-HQA2, Class M1A, 7.938% (SOFR30A + 2.650%) due 7/25/42(b)(c)			102,052
		403,078	Series 2023-HQA2, Class M1A, 7.288% (SOFR30A + 2.000%) due 6/25/43(b)(c)			404,612
			GCAT Trust:
		451,432	Series 2021-NQM1, Class A1, 0.874% due 1/25/66(b)(c)			377,117
		478,073	Series 2021-NQM2, Class A1, 1.036% due 5/25/66(b)(c)			384,746
		620,934	Series 2021-NQM3, Class A1, 1.091% due 5/25/66(b)(c)			501,866
		856,154	Series 2021-NQM4, Class A1, 1.093% due 8/25/66(b)(c)			656,646
		1,213,939	Series 2021-NQM5, Class A1, 1.262% due 7/25/66(b)(c)			947,617
		449,608	Series 2021-NQM7, Class A1, 1.915% due 8/25/66(b)(c)			384,706
			Government National Mortgage Association (GNMA):
		699,265	Series 2012-116, Class IB, 4.000% due 9/16/42(h)			139,405
		1,259,527	Series 2012-32, Class Z, 3.500% due 3/20/42			1,161,695
		672,969	Series 2014-12, Class ZB, 3.000% due 1/16/44			594,650
		703,504	Series 2014-46, Class IO, 5.000% due 3/16/44(h)			103,906
		625,000	Series 2018-37, Class BY, 3.500% due 3/20/48			550,669
		524,600	Series 2019-5, Class JI, 5.000% due 7/16/44(h)			94,060
		24,936,534	Series 2020-173, Class JI, 2.000% due 11/20/50(h)			2,628,498
		15,118,448	Series 2021-129, Class IO, 0.982% due 6/16/63(b)(h)			1,038,521
		11,306,820	Series 2021-137, Class IQ, 3.000% due 8/20/51(h)			1,736,083
		21,582,614	Series 2021-184, Class IO, 0.883% due 12/16/61(b)(h)			1,396,816
		14,239,502	Series 2021-30, Class IB, 2.500% due 2/20/51(h)			1,944,526
		17,217,519	Series 2021-35, Class IO, 1.029% due 12/16/62(b)(h)			1,235,226
		19,192,068	Series 2021-52, Class IO, 0.719% due 4/16/63(b)(h)			1,052,696
		16,298,083	Series 2021-58, Class SL, 0.000% (1-Month TSFR + 3.636%) due 4/20/51(b)(h)			559,984
		4,611,978	Series 2021-77, Class EA, 1.000% due 7/20/50			3,477,300
		14,900,484	Series 2021-77, Class IT, 2.500% due 5/20/51(h)			2,094,431
		19,759,942	Series 2021-79, Class IO, 0.881% due 8/16/63(b)(h)			1,265,520
		10,138,322	Series 2022-174, Class AZ, 3.500% due 5/20/51			8,229,317
		473,814	Series 2022-24, Class GA, 3.000% due 2/20/52			421,934
		28,186,917	Series 2022-49, Class IO, 0.762% due 3/16/64(b)(h)			1,669,979
		16,188,857	Series 2022-61, Class EI, 3.000% due 7/20/51(h)			2,224,054
		8,413,990	Series 2022-64, Class IO, 2.500% due 2/20/50(h)			1,007,512
		31,266,584	Series 2022-80, Class IO, 0.592% due 6/16/64(b)(h)			1,554,765

See Notes to Financial Statements.

112

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)
	$	28,728,155	Series 2022-82, Class IO, 0.537% due 2/16/64(b)(h)		$	1,372,401
			Great Wolf Trust:
		500,000	Series 2019-WOLF, Class E, 8.156% (1-Month TSFR + 2.846%) due 12/15/36(b)(c)			493,044
		500,000	Series 2019-WOLF, Class F, 8.555% (1-Month TSFR + 3.245%) due 12/15/36(b)(c)			491,151
			GS Mortgage Securities Corp. Trust:
		400,000	Series 2018-TWR, Class D, 7.208% (1-Month TSFR + 1.897%) due 7/15/31(b)(c)			199,974
		400,000	Series 2018-TWR, Class E, 7.708% (1-Month TSFR + 2.397%) due 7/15/31(b)(c)			171,974
		400,000	Series 2018-TWR, Class F, 8.408% (1-Month TSFR + 3.097%) due 7/15/31(b)(c)			143,974
		400,000	Series 2018-TWR, Class G, 9.533% (1-Month TSFR + 4.222%) due 7/15/31(b)(c)			115,974
		700,000	Series 2021-IP, Class D, 7.525% (1-Month TSFR + 2.214%) due 10/15/36(b)(c)			640,696
			GS Mortgage Securities Trust:
		705,000	Series 2015-GC30, Class A4, 3.382% due 5/10/50			670,895
		9,961,885	Series 2017-GS7, Class XA, 1.227% due 8/10/50(b)(h)			319,541
		1,400,000	Series 2018-GS9, Class A4, 3.992% due 3/10/51(b)			1,299,260
		1,200,000	Series 2018-GS9, Class C, 4.496% due 3/10/51(b)			977,858
		340,000	Series 2019-GC38, Class A2, 3.872% due 2/10/52			336,857
		1,500,000	Series 2020-GC45, Class A5, 2.911% due 2/13/53			1,290,081
		4,717,199	HarborView Mortgage Loan Trust, Series 2006-14, Class 2A1A, 5.728% (1-Month TSFR + 0.414%) due 1/25/47(b)			4,216,341
		1,925,196	Homes Trust, Series 2023-NQM2, Class A1, step bond to yield, 6.456% due 2/25/68(c)			1,928,342
			Imperial Fund Mortgage Trust:
		489,879	Series 2021-NQM2, Class A1, 1.073% due 9/25/56(b)(c)			384,457
		887,230	Series 2021-NQM3, Class A1, 1.595% due 11/25/56(b)(c)			729,629
		1,420,456	Series 2022-NQM2, Class A1, step bond to yield, 3.638% due 3/25/67(c)			1,280,387
			JP Morgan Chase Commercial Mortgage Securities Trust:
		805,000	Series 2018-WPT, Class FFX, 5.542% due 7/5/33(b)(c)			624,438
		1,950,000	Series 2019-OSB, Class A, 3.397% due 6/5/39(c)			1,677,144
		823,000	Series 2020-ACE, Class C, 3.817% due 1/10/37(b)(c)			749,619
		805,000	Series 2020-LOOP, Class E, 3.990% due 12/5/38(b)(c)			502,247
		666,799	Series 2022-NLP, Class A, 5.907% (1-Month TSFR + 0.597%) due 4/15/37(b)(c)			620,772
			JP Morgan Mortgage Trust:
		2,100,550	Series 2006-S1, Class 2A9, 6.500% due 4/25/36			2,062,012
		6,419,757	Series 2006-S4, Class A7, 6.000% due 1/25/37			2,622,348

See Notes to Financial Statements.

113

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)
	$	1,527,943	Series 2021-3, Class B1, 2.941% due 7/25/51(b)(c)		$	1,182,273
			JPMBB Commercial Mortgage Securities Trust:
		475,000	Series 2014-C21, Class A5, 3.775% due 8/15/47			463,948
		1,667,000	Series 2015-C27, Class C, 4.440% due 2/15/48(b)			1,365,198
		1,205,000	Series 2015-C28, Class C, 4.273% due 10/15/48(b)			1,043,535
		529,000	Series 2016-C1, Class A5, 3.576% due 3/17/49			497,428
		1,100,000	JPMCC Commercial Mortgage Securities Trust, Series 2017-JP6, Class A5, 3.490% due 7/15/50			994,195
		1,123,000	JPMDB Commercial Mortgage Securities Trust, Series 2020-COR7, Class B, 3.294% due 5/13/53(b)			813,267
			Legacy Mortgage Asset Trust:
		348,335	Series 2021-GS2, Class A1, step bond to yield, 1.750% due 4/25/61(c)			324,928
		465,483	Series 2021-GS3, Class A1, step bond to yield, 1.750% due 7/25/61(c)			439,921
		237,105	Series 2021-GS4, Class A1, step bond to yield, 1.650% due 11/25/60(c)			217,505
		2,964,596	Lehman XS Trust, Series 2007-4N, Class 1A3, 5.909% (1-Month TSFR + 0.594%) due 3/25/47(b)			2,520,864
			Life Mortgage Trust:
		1,619,935	Series 2021-BMR, Class A, 6.124% (1-Month TSFR + 0.814%) due 3/15/38(b)(c)			1,587,375
		3,179,908	Series 2021-BMR, Class D, 6.824% (1-Month TSFR + 1.514%) due 3/15/38(b)(c)			3,076,058
		2,400,000	Series 2022-BMR2, Class D, 7.852% (1-Month TSFR + 2.542%) due 5/15/39(b)(c)			2,289,411
		825,040	Med Trust, Series 2021-MDLN, Class G, 10.674% (1-Month TSFR + 5.364%) due 11/15/38(b)(c)			773,422
		6,136,546	Merrill Lynch Mortgage Investors Trust, Series 2006-AF1, Class AF1, 5.750% due 8/25/36			3,021,684
			MFA Trust:
		266,583	Series 2021-NQM1, Class A1, 1.153% due 4/25/65(b)(c)			232,990
		357,899	Series 2021-NQM2, Class A1, 1.029% due 11/25/64(b)(c)			295,630
		3,800,000	Series 2023-NQM3, Class A1, 6.835% due 7/25/68(c)			3,799,978
			Morgan Stanley Bank of America Merrill Lynch Trust:
		293,000	Series 2014-C19, Class AS, 3.832% due 12/15/47			279,194
		15,668,845	Series 2014-C19, Class XA, 1.099% due 12/15/47(b)(h)			107,153
		2,583,782	Series 2015-C20, Class A4, 3.249% due 2/15/48			2,476,535
		1,405,000	Series 2015-C26, Class A5, 3.531% due 10/15/48			1,331,114
		1,652,000	Series 2016-C31, Class C, 4.403% due 11/15/49(b)			1,275,607
			Morgan Stanley Capital I Trust:
		13,948,707	Series 2016-UB11, Class XA, 1.574% due 8/15/49(b)(h)			460,134
		12,006,109	Series 2016-UB12, Class XA, 0.787% due 12/15/49(b)(h)			203,933
		1,356,000	Series 2019-H7, Class AS, 3.524% due 7/15/52			1,173,324
		583,000	Series 2019-H7, Class B, 3.725% due 7/15/52			473,473

See Notes to Financial Statements.

114

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)
	$	21,931,722	Series 2019-L3, Class XA, 0.755% due 11/15/52(b)(h)		$	650,265
		806,000	Series 2020-L4, Class B, 3.082% due 2/15/53			598,167
		1,535,849	Morgan Stanley Residential Mortgage Loan Trust, Series 2020-RPL1, Class A1, 2.693% due 10/25/60(b)(c)			1,513,594
			New Residential Mortgage Loan Trust:
		337,997	Series 2021-NQ1R, Class A1, 0.943% due 7/25/55(b)(c)			286,988
		220,359	Series 2021-NQ2R, Class A1, 0.941% due 10/25/58(b)(c)			195,438
		1,066,221	Series 2021-NQM3, Class A1, 1.156% due 11/27/56(b)(c)			866,756
		1,027,319	NMLT Trust, Series 2021-INV1, Class A1, 1.185% due 5/25/56(b)(c)			833,522
			OBX Trust:
		685,534	Series 2021-NQM1, Class A1, 1.072% due 2/25/66(b)(c)			567,514
		617,523	Series 2021-NQM3, Class A1, 1.054% due 7/25/61(b)(c)			460,621
		1,208,978	Series 2022-NQM1, Class A1, 2.305% due 11/25/61(b)(c)			1,017,571
		3,617,851	Series 2023-NQM3, Class A1, step bond to yield, 5.949% due 2/25/63(c)			3,591,382
			PMT Credit Risk Transfer Trust:
		790,314	Series 2019-2R, Class A, 9.193% (1-Month TSFR + 3.864%) due 5/30/25(b)(c)			788,746
		398,610	Series 2019-3R, Class A, 9.118% (SOFR30A + 3.814%) due 11/27/31(b)(c)			391,960
		1,294,878	PRET LLC, Series 2021-RN3, Class A1, step bond to yield, 1.843% due 9/25/51(c)			1,181,798
		943,204	Pretium Mortgage Credit Partners LLC, Series 2021-RN1, Class A1, step bond to yield, 1.992% due 2/25/61(c)			894,689
			PRPM LLC:
		239,295	Series 2021-2, Class A1, 2.115% due 3/25/26(b)(c)			230,480
		415,359	Series 2021-3, Class A1, step bond to yield, 1.867% due 4/25/26(c)			390,604
		639,608	Series 2021-5, Class A1, step bond to yield, 1.793% due 6/25/26(c)			596,653
		570,630	Series 2021-6, Class A1, step bond to yield, 1.793% due 7/25/26(c)			538,790
		3,266,701	Series 2021-7, Class A1, step bond to yield, 1.867% due 8/25/26(c)			3,020,858
		584,443	Series 2021-8, Class A1, 1.743% due 9/25/26(b)(c)			541,838
		1,516,517	Series 2021-9, Class A1, step bond to yield, 2.363% due 10/25/26(c)			1,425,358
		230,652	Series 2021-RPL1, Class A1, step bond to yield, 1.319% due 7/25/51(c)			203,674
		936,149	Series 2022-5, Class A1, step bond to yield, 6.900% due 9/27/27(c)			932,156
			Rali Trust:
		1,119,080	Series 2005-QS13, Class 1A3, 5.500% due 9/25/35			903,223
		2,977,648	Series 2006-QS17, Class A8, 6.000% due 12/25/36			2,388,701
		3,594,294	Residential Asset Securitization Trust, Series 2005-A8CB, Class A6, 5.000% due 7/25/35			2,132,822
			Residential Mortgage Loan Trust:
		3,100,000	Series 2020-1, Class M1, 3.242% due 1/26/60(b)(c)			2,634,359
		222,999	Series 2021-1R, Class A1, 0.859% due 1/25/65(b)(c)			201,291
			Seasoned Credit Risk Transfer Trust:
		325,171	Series 2019-1, Class MA, 3.500% due 7/25/58			302,721

See Notes to Financial Statements.

115

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)
	$	510,070	Series 2019-1, Class MT, 3.500% due 7/25/58		$	442,332
		5,445,383	Series 2019-4, Class MV, 3.000% due 2/25/59			4,658,597
		636,314	Series 2020-1, Class MT, 2.500% due 8/25/59			520,712
		6,233,741	Series 2020-2, Class MT, 2.000% due 11/25/59			4,958,936
		6,054,807	Series 2020-3, Class M5TW, 3.000% due 5/25/60			5,339,998
		3,640,000	SFAVE Commercial Mortgage Securities Trust, Series 2015-5AVE, Class B, 4.534% due 1/5/43(b)(c)			2,266,349
			SG Residential Mortgage Trust:
		893,116	Series 2021-1, Class A1, 1.160% due 7/25/61(b)(c)			691,500
		5,238,000	Series 2021-2, Class B1, 4.038% due 12/25/61(b)(c)			3,391,917
		5,150,000	SMRT, Series 2022-MINI, Class D, 7.261% (1-Month TSFR + 1.950%) due 1/15/39(b)(c)			4,917,446
		515,992	STAR Trust, Series 2021-1, Class A1, 1.219% due 5/25/65(b)(c)			440,970
			Starwood Mortgage Residential Trust:
		181,774	Series 2021-2, Class A1, 0.943% due 5/25/65(b)(c)			160,288
		760,832	Series 2021-3, Class A1, 1.127% due 6/25/56(b)(c)			607,198
		1,022,348	Series 2021-4, Class A1, 1.162% due 8/25/56(b)(c)			846,451
		952,727	Series 2021-6, Class A1, 1.920% due 11/25/66(b)(c)			769,098
		3,480,000	STWD Trust, Series 2021-FLWR, Class D, 6.800% (1-Month TSFR + 1.490%) due 7/15/36(b)(c)			3,357,684
		697,729	Toorak Mortgage Corp. Ltd., Series 2021-1, Class A1, step bond to yield, 2.240% due 6/25/24(c)			677,364
			Towd Point Mortgage Trust:
		1,512,760	Series 2021-R1, Class A1, 2.918% due 11/30/60(b)(c)			1,221,789
		3,054,387	Series 2022-4, Class A1, 3.750% due 9/25/62(c)			2,792,064
		289,990	Triangle Re Ltd., Series 2021-3, Class M1A, 7.188% (SOFR30A + 1.900%) due 2/25/34(b)(c)			290,443
		393,979	TRK Trust, Series 2021-INV1, Class A1, 1.153% due 7/25/56(b)(c)			332,930
		4,286,840	UBS Commercial Mortgage Trust, Series 2017-C1, Class XA, 1.685% due 6/15/50(b)(h)			183,164
			VCAT LLC:
		159,358	Series 2021-NPL2, Class A1, step bond to yield, 2.115% due 3/27/51(c)			151,819
��		717,978	Series 2021-NPL4, Class A1, step bond to yield, 1.868% due 8/25/51(c)			671,307
			Verus Securitization Trust:
		3,814,000	Series 2021-1, Class B1, 2.977% due 1/25/66(b)(c)			2,394,430
		283,083	Series 2021-2, Class A1, 1.031% due 2/25/66(b)(c)			237,866
		432,832	Series 2021-4, Class A1, 0.938% due 7/25/66(b)(c)			335,240
		1,079,526	Series 2021-5, Class A1, 1.013% due 9/25/66(b)(c)			871,191
		1,104,665	Series 2021-6, Class A1, 1.630% due 10/25/66(b)(c)			901,097
		1,307,686	Series 2021-7, Class A1, 1.829% due 10/25/66(b)(c)			1,108,570
		221,956	Series 2021-R1, Class A1, 0.820% due 10/25/63(b)(c)			197,817
		323,998	Series 2021-R2, Class A1, 0.918% due 2/25/64(b)(c)			276,751

See Notes to Financial Statements.

116

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)
	$	923,049	Series 2022-1, Class A1, step bond to yield, 2.724% due 1/25/67(c)		$	807,112
		3,602,430	Series 2023-4, Class A1, step bond to yield, 5.811% due 5/25/68(c)			3,563,905
		3,691,258	Series 2023-INV1, Class A1, step bond to yield, 5.999% due 2/25/68(c)			3,659,938
		276,002	VOLT C LLC, Series 2021-NPL9, Class A1, step bond to yield, 1.992% due 5/25/51(c)			253,519
		770,423	VOLT XCIII LLC, Series 2021-NPL2, Class A1, step bond to yield, 1.893% due 2/27/51(c)			716,258
		1,614,360	VOLT XCVII LLC, Series 2021-NPL6, Class A1, step bond to yield, 2.240% due 4/25/51(c)			1,507,203
			Wells Fargo Commercial Mortgage Trust:
		1,400,000	Series 2016-BNK1, Class A3, 2.652% due 8/15/49			1,269,659
		9,027,432	Series 2017-C38, Class XA, 1.091% due 7/15/50(b)(h)			244,442
		745,257	Series 2018-C45, Class ASB, 4.147% due 6/15/51			721,357
		806,000	Series 2020-C55, Class AS, 2.937% due 2/15/53			673,578
		3,119,981	Series 2021-SAVE, Class D, 7.925% (1-Month TSFR + 2.614%) due 2/15/40(b)(c)			2,790,573
		500,000	WFRBS Commercial Mortgage Trust, Series 2014-C22, Class A5, 3.752% due 9/15/57			483,569
			TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost – $530,069,702)			448,940,945
U.S. GOVERNMENT OBLIGATIONS – 20.8%
			U.S. Treasury Bonds:
		5,920,000	4.625% due 2/28/25			5,879,069
		1,780,000	1.250% due 11/30/26			1,607,632
		12,805,000	4.125% due 11/15/32			12,798,998
		3,565,000	2.000% due 11/15/41			2,494,525
		7,870,000	3.250% due 5/15/42			6,720,550
		9,165,000	3.375% due 8/15/42			7,953,144
		13,005,000	3.875% due 2/15/43			12,100,746
		3,975,000	3.625% due 8/15/43			3,552,811
		6,715,000	3.625% due 2/15/44			5,989,990
		12,905,000	3.375% due 5/15/44			11,066,037
		2,470,000	2.500% due 2/15/45			1,813,810
		1,390,000	2.250% due 8/15/46			957,471
		8,500,000	3.000% due 2/15/48			6,747,207
		7,800,000	3.125% due 5/15/48			6,335,062
		5,110,000	3.375% due 11/15/48			4,342,702
		34,460,000	2.375% due 5/15/51			23,951,046
		12,330,000	1.875% due 11/15/51			7,576,207
		7,170,000	3.000% due 8/15/52			5,713,874
		625,000	4.000% due 11/15/52			603,052
		68,402,000	3.625% due 5/15/53			61,690,054

See Notes to Financial Statements.

117

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
U.S. GOVERNMENT OBLIGATIONS – (continued)
	$	51,335,000	4.125% due 8/15/53		$	50,645,186
			U.S. Treasury Inflation Indexed Bonds:
		4,711,437.2	0.250% due 2/15/50			3,031,515
		955,746.88	0.125% due 2/15/52			576,817
			U.S. Treasury Inflation Indexed Notes:
		1,197,257.65	0.750% due 7/15/28			1,128,789
		4,562,421.75	0.250% due 7/15/29			4,141,021
		2,719,172.85	0.125% due 7/15/30			2,409,654
			U.S. Treasury Notes:
		4,495,000	4.500% due 11/30/24			4,454,615
		2,050,000	3.875% due 3/31/25			2,012,924
		3,200,000	3.875% due 4/30/25			3,141,875
		7,580,000	2.750% due 5/15/25			7,303,745
		3,745,000	4.750% due 7/31/25			3,734,906
		12,500,000	0.250% due 8/31/25			11,413,086
		1,580,000	0.375% due 11/30/25			1,434,097
		2,695,000	4.000% due 12/15/25			2,651,417
		5,060,000	4.000% due 2/15/26			4,980,147
		14,175,000	4.625% due 3/15/26			14,164,479
		3,250,000	3.750% due 4/15/26			3,179,795
		10,400,000	0.750% due 4/30/26			9,405,500
		3,050,000	4.500% due 7/15/26			3,044,520
		19,290,000	2.750% due 4/30/27			18,207,198	��
		850,000	4.000% due 2/29/28			839,541
		2,350,000	3.625% due 3/31/28			2,284,457
		7,120,000	3.500% due 4/30/28			6,883,594
		1,800,000	3.625% due 5/31/28			1,750,641
		3,250,000	4.000% due 6/30/28			3,211,152
		1,355,000	3.875% due 12/31/29			1,327,741
		1,125,000	3.500% due 1/31/30			1,079,165
		14,410,000	3.625% due 3/31/30			13,919,159
		2,500,000	3.750% due 5/31/30			2,432,520
		2,500,000	3.750% due 6/30/30			2,432,422
		6,430,000	2.750% due 8/15/32			5,771,679
		10,990,000	3.500% due 2/15/33			10,466,258
		38,500,000	3.875% due 8/15/33			37,814,219
		9,390,000	3.625% due 2/15/53			8,459,803
			TOTAL U.S. GOVERNMENT OBLIGATIONS (Cost – $478,942,143)			439,627,624

See Notes to Financial Statements.

118

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
ASSET-BACKED SECURITIES – 9.3%
	$	1,000,000	37 Capital CLO I, Series 2021-1A, Class A, 6.770% (3-Month TSFR + 1.462%) due 10/15/34(b)(c)		$	997,032
		505,000	Affirm Asset Securitization Trust, Series 2023-A, Class 1A, 6.610% due 1/18/28(c)			501,776
		2,335,000	Aligned Data Centers Issuer LLC, Series 2023-1A, Class A2, 6.000% due 8/17/48(c)			2,274,787
		500,000	Allegro CLO X Ltd., Series 2019-1A, Class AR, 6.738% (3-Month TSFR + 1.412%) due 7/20/32(b)(c)			495,282
		500,000	ALM 2020 Ltd., Series 2020-1A, Class A2, 7.420% (3-Month TSFR + 2.112%) due 10/15/29(b)(c)			500,058
		415,000	American Credit Acceptance Receivables Trust, Series 2023-3, Class B, 6.090% due 11/12/27(c)			415,306
		1,470,000	AmeriCredit Automobile Receivables Trust, Series 2022-2, Class B, 4.810% due 4/18/28			1,441,659
		4,000,000	AMSR Trust, Series 2020-SFR4, Class E2, 2.456% due 11/17/37(c)			3,632,694
		1,000,000	Anchorage Capital CLO 4-R Ltd., Series 2014-4RA, Class B, 7.127% (3-Month TSFR + 1.762%) due 1/28/31(b)(c)			985,968
		500,000	Apidos CLO XII, Series 2013-12A, Class CR, 7.370% (3-Month TSFR + 2.062%) due 4/15/31(b)(c)			488,137
		260,000	Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL2, Class A, 6.525% (1-Month TSFR + 1.214%) due 5/15/36(b)(c)			255,612
		1,050,000	ARI Fleet Lease Trust, Series 2023-A, Class A2, 5.410% due 2/17/32(c)			1,041,683
		1,375,923	Asset Backed Securities Corp. Home Equity Loan Trust, Series 2007-HE2, Class A4, 5.659% (1-Month TSFR + 0.344%) due 5/25/37(b)			927,538
		421,730	Avant Loans Funding Trust, Series 2021-REV1, Class A, 1.210% due 7/15/30(c)			415,732
		5,920,000	Avis Budget Rental Car Funding AESOP LLC, Series 2020-1A, Class A, 2.330% due 8/20/26(c)			5,548,178
		1,440,000	Bain Capital Credit CLO, Series 2019-1A, Class AR, 6.712% (3-Month TSFR + 1.392%) due 4/19/34(b)(c)			1,430,104
			Bain Capital Credit CLO Ltd.:
		1,660,000	Series 2017-2A, Class AR2, 6.793% (3-Month TSFR + 1.442%) due 7/25/34(b)(c)			1,633,713
		1,045,000	Series 2023-4A, Class B, 0.000% (3-Month TSFR + 2.500%) due 10/21/36(b)(c)(d)(j)			1,045,091
		1,000,000	Battalion CLO XI Ltd., Series 2017-11A, Class AR, 6.757% (3-Month TSFR + 1.412%) due 4/24/34(b)(c)			994,887
		118,470	BHG Securitization Trust, Series 2021-B, Class A, 0.900% due 10/17/34(c)			113,734
		1,085,000	BlueMountain CLO XXIV Ltd., Series 2019-24A, Class AR, 6.688% (3-Month TSFR + 1.362%) due 4/20/34(b)(c)			1,075,296
			BSPRT Issuer Ltd.:
		775,000	Series 2021-FL6, Class A, 6.525% (1-Month TSFR + 1.214%) due 3/15/36(b)(c)			760,963

See Notes to Financial Statements.

119

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
ASSET-BACKED SECURITIES – (continued)
	$	370,000	Series 2021-FL7, Class B, 7.475% (1-Month TSFR + 2.164%) due 12/15/38(b)(c)		$	357,098
		1,973,747	Carlyle Global Market Strategies CLO Ltd., Series 2014-3RA, Class A1A, 6.669% (3-Month TSFR + 1.312%) due 7/27/31(b)(c)			1,964,922
		1,700,000	Carmax Auto Owner Trust, Series 2021-1, Class C, 0.940% due 12/15/26			1,564,996
		1,120,940	Carrington Mortgage Loan Trust, Series 2006-NC4, Class A3, 5.589% (1-Month TSFR + 0.274%) due 10/25/36(b)			1,070,316
		750,000	CBAM Ltd., Series 2019-10A, Class DR, 9.088% (3-Month TSFR + 3.762%) due 4/20/32(b)(c)			733,036
		4,354,538	C-BASS Trust, Series 2006-CB9, Class A4, 5.889% (1-Month TSFR + 0.574%) due 11/25/36(b)			1,961,337
		425,000	CCG Receivables Trust, Series 2023-1, Class A2, 5.820% due 9/16/30(c)			425,229
			CF Hippolyta Issuer LLC:
		285,227	Series 2020-1, Class A1, 1.690% due 7/15/60(c)			257,896
		122,518	Series 2021-1A, Class A1, 1.530% due 3/15/61(c)			107,642
		108,381	Series 2021-1A, Class B1, 1.980% due 3/15/61(c)			92,873
		183,701	Series 2022-1A, Class A1, 5.970% due 8/15/62(c)			179,969
		821,423	Chesapeake Funding II LLC, Series 2023-1A, Class A1, 5.650% due 5/15/35(c)			817,130
		1,600,000	Clover CLO LLC, Series 2021-1A, Class A, 6.707% (3-Month TSFR + 1.362%) due 4/22/34(b)(c)			1,586,400
		230,000	CNH Equipment Trust, Series 2023-A, Class A4, 4.770% due 10/15/30			226,082
		1,170,211	CPS Auto Receivables Trust, Series 2023-B, Class A, 5.910% due 8/16/27(c)			1,168,467
		1,250,000	CQS US CLO Ltd., Series 2021-1A, Class A, 6.808% (3-Month TSFR + 1.482%) due 1/20/35(b)(c)			1,239,875
		346,216	Credit Acceptance Auto Loan Trust, Series 2021-3A, Class A, 1.000% due 5/15/30(c)			338,892
		4,044,137	Credit-Based Asset Servicing & Securitization LLC, Series 2006-CB4, Class AV4, 2.915% (1-Month TSFR + 0.594%) due 5/25/36(b)			2,550,310
			DB Master Finance LLC:
		1,598,400	Series 2019-1A, Class A23, 4.352% due 5/20/49(c)			1,489,989
		328,155	Series 2021-1A, Class A23, 2.791% due 11/20/51(c)			259,875
		365,000	DLLAA LLC, Series 2023-1A, Class A3, 5.640% due 2/22/28(c)			366,509
			Domino’s Pizza Master Issuer LLC:
		979,475	Series 2019-1A, Class A2, 3.668% due 10/25/49(c)			859,011
		669,588	Series 2021-1A, Class A2I, 2.662% due 4/25/51(c)			571,904
		1,926,398	Dryden 53 CLO Ltd., Series 2017-53A, Class A, 6.690% (3-Month TSFR + 1.382%) due 1/15/31(b)(c)			1,919,681
			DT Auto Owner Trust:
		310,000	Series 2023-1A, Class B, 5.190% due 10/16/28(c)			305,294
		375,000	Series 2023-2A, Class B, 5.410% due 2/15/29(c)			370,389
		970,000	Elmwood CLO 19 Ltd., Series 2022-6A, Class BR, 0.000% (3-Month TSFR + 2.400%) due 10/17/36(b)(c)(d)(j)			970,085

See Notes to Financial Statements.

120

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
ASSET-BACKED SECURITIES – (continued)
	$	655,000	Elmwood CLO 23 Ltd., Series 2023-2A, Class B, 7.307% (3-Month TSFR + 2.250%) due 4/16/36(b)(c)		$	654,467
		480,000	Enterprise Fleet Financing LLC, Series 2023-1, Class A3, 5.420% due 10/22/29(c)			476,451
			Exeter Automobile Receivables Trust:
		600,000	Series 2021-1A, Class D, 1.080% due 11/16/26			575,987
		900,000	Series 2021-1A, Class E, 2.210% due 2/15/28(c)			840,694
		383,023	Series 2022-1A, Class B, 2.180% due 6/15/26			379,925
		197,000	Series 2022-6A, Class B, 6.030% due 8/16/27			196,579
		470,000	Series 2023-1A, Class B, 5.720% due 4/15/27			466,929
		201,000	Series 2023-3A, Class B, 6.110% due 9/15/27			200,682
		800,000	Fillmore Park CLO Ltd., Series 2018-1A, Class D, 8.470% (3-Month TSFR + 3.162%) due 7/15/30(b)(c)			769,026
		5,284,036	First Franklin Mortgage Loan Trust, Series 2007-FF2, Class A1, 5.709% (1-Month TSFR + 0.394%) due 3/25/37(b)			2,812,557
		1,362,296	FirstKey Homes Trust, Series 2022-SFR2, Class A, 4.250% due 7/17/39(c)			1,293,201
			Flagship Credit Auto Trust:
		173,000	Series 2023-1, Class B, 5.050% due 1/18/28(c)			169,591
		470,000	Series 2023-2, Class B, 5.210% due 5/15/28(c)			461,760
			Ford Credit Auto Owner Trust:
		6,750,000	Series 2020-1, Class C, 2.540% due 8/15/31(c)			6,377,465
		3,650,000	Series 2020-2, Class C, 1.740% due 4/15/33(c)			3,316,594
		3,350,000	Series 2023-B, Class B, 5.560% due 3/15/29			3,329,953
		2,405,000	Series 2023-B, Class C, 5.710% due 12/15/30			2,390,901
		2,000,000	Franklin Park Place CLO I LLC, Series 2022-1A, Class A, 6.711% (3-Month TSFR + 1.400%) due 4/14/35(b)(c)			1,981,970
		1,690,000	FS Rialto, Series 2021-FL3, Class A, 6.677% (1-Month TSFR + 1.364%) due 11/16/36(b)(c)			1,650,919
		550,716	FS RIALTO, Series 2021-FL2, Class A, 6.647% (1-Month TSFR + 1.334%) due 5/16/38(b)(c)			536,667
		2,500,000	Generate CLO 6 Ltd., Series 6A, Class A1R, 6.807% (3-Month TSFR + 1.462%) due 1/22/35(b)(c)			2,476,337
			GLS Auto Receivables Issuer Trust:
		968,754	Series 2021-2A, Class C, 1.080% due 6/15/26(c)			948,001
		100,000	Series 2022-3A, Class B, 4.920% due 1/15/27(c)			98,393
			GM Financial Consumer Automobile Receivables Trust:
		2,750,000	Series 2021-1, Class C, 1.040% due 5/17/27			2,575,331
		2,455,000	Series 2023-2, Class B, 4.820% due 10/16/28			2,406,418
		1,500,000	Series 2023-2, Class C, 5.210% due 12/18/28			1,479,784
		1,555,000	Series 2023-3, Class B, 5.720% due 1/16/29			1,558,255
		2,290,000	Series 2023-3, Class C, 5.920% due 2/16/29			2,295,101

See Notes to Financial Statements.

121

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
ASSET-BACKED SECURITIES – (continued)
	$	1,000,000	Goldentree Loan Management US CLO 15 Ltd., Series 2022-15A, Class DR, 0.000% (3-Month TSFR + 4.400%) due 10/20/36(b)(c)(d)(j)		$	1,000,089
		1,357,279	GoodLeap Sustainable Home Solutions Trust, Series 2021-5CS, Class C, 3.500% due 10/20/48(c)			929,342
		785,000	Greystone CRE Notes Ltd., Series 2019-FL2, Class C, 7.425% (1-Month USD-LIBOR + 2.000%) due 9/15/37(b)(c)			767,001
		1,000,000	Halsey Point CLO I Ltd., Series 2019-1A, Class B1, 7.788% (3-Month TSFR + 2.462%) due 1/20/33(b)(c)			995,000
		500,000	Halseypoint CLO 5 Ltd., Series 2021-5A, Class A1A, 6.841% (3-Month TSFR + 1.472%) due 1/30/35(b)(c)			498,001
		1,235,000	Hertz Vehicle Financing III LLC, Series 2023-3A, Class A, 5.940% due 2/25/28(c)			1,235,726
			Home Partners of America Trust:
		1,674,107	Series 2021-1, Class D, 2.477% due 9/17/41(c)			1,382,755
		764,716	Series 2021-1, Class E, 2.577% due 9/17/41(c)			630,567
		880,973	Series 2021-1, Class F, 3.325% due 9/17/41(c)			707,244
		4,416,429	Horizon Aircraft Finance III Ltd., Series 2019-2, Class A, 3.425% due 11/15/39(c)			3,438,499
		1,950,000	John Deere Owner Trust, Series 2023-B, Class A4, 5.110% due 5/15/30			1,934,256
		4,019,200	JP Morgan Mortgage Acquisition Corp., Series 2005-WMC1, Class M4, 6.329% (1-Month TSFR + 1.014%) due 9/25/35(b)			3,553,717
			Kubota Credit Owner Trust:
		515,000	Series 2023-1A, Class A3, 5.020% due 6/15/27(c)			510,157
		520,000	Series 2023-2A, Class A3, 5.280% due 1/18/28(c)			519,010
		1,000,000	LCM XV LP, Series 15A, Class DR, 9.288% (3-Month TSFR + 3.962%) due 7/20/30(b)(c)			922,663
		1,376,666	Lendingpoint Asset Securitization Trust, Series 2021-A, Class C, 2.750% due 12/15/28(c)			1,349,180
		1,000,000	Marble Point CLO XXI Ltd., Series 2021-3A, Class A1, 6.810% (3-Month TSFR + 1.502%) due 10/17/34(b)(c)			992,279
		1,000,000	Marble Point CLO XXII Ltd., Series 2021-2A, Class A, 6.813% (3-Month TSFR + 1.462%) due 7/25/34(b)(c)			983,783
		518,392	Marlette Funding Trust, Series 2019-4A, Class C, 3.760% due 12/17/29(c)			513,243
		1,925,000	ME Funding LLC, Series 2019-1, Class A2, 6.448% due 7/30/49(c)			1,878,815
		7,863,705	Merrill Lynch Mortgage Investors Trust, Series 2006-HE6, Class A1, 5.709% (1-Month TSFR + 0.394%) due 11/25/37(b)			3,874,631
		1,000,000	MetroNet Infrastructure Issuer LLC, Series 2023-1A, Class A2, 6.560% due 4/20/53(c)			976,121
			MF1 Ltd.:
		410,000	Series 2021-FL7, Class A, 6.506% (1-Month TSFR + 1.194%) due 10/16/36(b)(c)			401,800
		845,000	Series 2022-FL8, Class AS, 7.064% (1-Month TSFR + 1.750%) due 2/19/37(b)(c)			824,688

See Notes to Financial Statements.

122

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
ASSET-BACKED SECURITIES – (continued)
	$	821,382	MKS CLO Ltd., Series 2017-1A, Class AR, 6.588% (3-Month TSFR + 1.262%) due 7/20/30(b)(c)		$	818,065
		853,703	MP CLO III Ltd., Series 2013-1A, Class AR, 6.838% (3-Month TSFR + 1.512%) due 10/20/30(b)(c)			853,214
			Navient Private Education Refi Loan Trust:
		410,290	Series 2021-EA, Class A, 0.970% due 12/16/69(c)			345,361
		627,006	Series 2021-FA, Class A, 1.110% due 2/18/70(c)			527,324
		789,933	Series 2023-A, Class A, 5.510% due 10/15/71(c)			779,965
		4,000,000	New Century Home Equity Loan Trust, Series 2005-B, Class M2, 6.164% (1-Month TSFR + 0.849%) due 10/25/35(b)			3,312,672
		1,050,000	New Economy Assets Phase 1 Sponsor LLC, Series 2021-1, Class A1, 1.910% due 10/20/61(c)			905,373
		929,932	Northwoods Capital XVI Ltd., Series 2017-16A, Class A, 6.896% (3-Month TSFR + 1.532%) due 11/15/30(b)(c)			930,250
		925,000	Octagon 61 Ltd., Series 2023-2A, Class B, 7.419% (3-Month TSFR + 2.350%) due 4/20/36(b)(c)			922,618
		500,000	Octagon Investment Partners 51 Ltd., Series 2021-1A, Class A, 6.738% (3-Month TSFR + 1.412%) due 7/20/34(b)(c)			495,261
		962,500	Octagon Investment Partners XXI Ltd., Series 2014-1A, Class A2R3, 7.031% (3-Month TSFR + 1.662%) due 2/14/31(b)(c)			940,761
		995,000	OneMain Direct Auto Receivables Trust, Series 2023-1A, Class A, 5.410% due 11/14/29(c)			986,498
			Pagaya AI Debt Selection Trust:
		970,903	Series 2021-1, Class B, 2.130% due 11/15/27(c)			959,373
		1,999,891	Series 2021-3, Class B, 1.740% due 5/15/29(c)			1,945,768
			Pagaya AI Debt Trust:
		1,499,802	Series 2022-1, Class B, 3.344% due 10/15/29(c)			1,414,232
		1,352,384	Series 2023-3, Class A, 7.600% due 12/16/30(c)			1,357,785
		2,915,000	PFS Financing Corp., Series 2023-C, Class A, 5.520% due 10/16/28(c)			2,912,186
		1,800,000	PMT Issuer Trust – FMSR, Series 2021-FT1, Class A, 8.429% (1-Month USD-LIBOR + 3.000%) due 3/25/26(b)(c)			1,739,772
		745,000	Prestige Auto Receivables Trust, Series 2022-1A, Class B, 6.550% due 7/17/28(c)			745,242
		503,812	PRET LLC, Series 2021-NPL3, Class A1, step bond to yield, 1.868% due 7/25/51(c)			470,513
			Pretium Mortgage Credit Partners I LLC:
		547,750	Series 2021-NPL2, Class A1, step bond to yield, 1.992% due 6/27/60(c)			510,091
		1,023,687	Series 2021-NPL4, Class A1, step bond to yield, 2.363% due 10/27/60(c)			963,654
			Progress Residential Trust:
		3,720,000	Series 2021-SFR11, Class B, 2.732% due 1/17/39(c)			3,164,487
		332,727	Series 2022-SFR3, Class A, 3.200% due 4/17/39(c)			304,229
		247,578	Series 2022-SFR5, Class A, 4.451% due 6/17/39(c)			236,112
		1,063,454	Series 2022-SFR6, Class A, 4.451% due 7/20/39(c)			1,013,375

See Notes to Financial Statements.

123

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
ASSET-BACKED SECURITIES – (continued)
	$	550,000	Series 2023-SFR1, Class A, 4.300% due 3/17/40(c)		$	519,077
		1,885,703	Race Point IX CLO Ltd., Series 2015-9A, Class A1A2, 6.510% (3-Month TSFR + 1.202%) due 10/15/30(b)(c)			1,879,970
		2,010,000	Regatta VI Funding Ltd., Series 2016-1A, Class AR2, 6.748% (3-Month TSFR + 1.422%) due 4/20/34(b)(c)			1,996,812
		1,000,000	Regatta XI Funding Ltd., Series 2018-1A, Class B, 7.220% (3-Month TSFR + 1.912%) due 7/17/31(b)(c)			985,154
		1,420,000	RR 23 Ltd., Series 2022-23A, Class A2R, 7.999% (3-Month TSFR + 2.650%) due 10/15/35(b)(c)			1,423,665
		500,000	Sandstone Peak Ltd., Series 2021-1A, Class A1, 6.790% (3-Month TSFR + 1.482%) due 10/15/34(b)(c)			499,884
			Santander Drive Auto Receivables Trust:
		840,000	Series 2022-4, Class B, 4.420% due 11/15/27			821,418
		185,000	Series 2022-6, Class B, 4.720% due 6/15/27			181,619
		740,000	Series 2022-7, Class B, 5.950% due 1/17/28			738,768
		365,000	Series 2023-1, Class B, 4.980% due 2/15/28			358,552
		635,000	Series 2023-3, Class B, 5.610% due 7/17/28			632,334
		520,000	SFS Auto Receivables Securitization Trust, Series 2023-1A, Class A4, 5.470% due 12/20/29(c)			516,827
		20,470	SoFi Consumer Loan Program Trust, Series 2021-1, Class A, 0.490% due 9/25/30(c)			20,255
		1,000,000	Sofi Professional Loan Program Trust, Series 2018-B, Class BFX, 3.830% due 8/25/47(c)			901,056
		1,710,000	Sound Point CLO XXIX Ltd., Series 2021-1A, Class A, 6.683% (3-Month TSFR + 1.332%) due 4/25/34(b)(c)			1,680,743
		500,000	Sound Point CLO XXVII Ltd., Series 2020-2A, Class AR, 6.793% (3-Month TSFR + 1.442%) due 10/25/34(b)(c)			493,326
		915,000	Stack Infrastructure Issuer LLC, Series 2023-2A, Class A2, 5.900% due 7/25/48(c)			891,626
		3,500,000	STAR Trust, Series 2021-SFR1, Class G, 8.625% (1-Month TSFR + 3.314%) due 4/17/38(b)(c)			3,347,350
		8,700,000	Structured Asset Investment Loan Trust, Series 2006-4, Class A5, 5.739% (1-Month TSFR + 0.424%) due 7/25/36(b)			2,829,805
		813,356	Sunnova Helios V Issuer LLC, Series 2021-A, Class A, 1.800% due 2/20/48(c)			681,435
		1,820,156	Sunrun Demeter Issuer LLC, Series 2021-2A, Class A, 2.270% due 1/30/57(c)			1,454,941
		500,000	Tesla Auto Lease Trust, Series 2021-B, Class B, 0.910% due 9/22/25(c)			478,421
		735,000	Texas Natural Gas Securitization Finance Corp., Series , Class , 5.102% due 4/1/35			733,434
		257,643	Tricolor Auto Securitization Trust, Series 2023-1A, Class A, 6.480% due 8/17/26(c)			257,072
		380,000	Tricon Residential Trust, Series 2023-SFR1, Class A, 5.100% due 7/17/40(c)			371,645
		424,430	TRTX Issuer Ltd., Series 2021-FL4, Class A, 6.628% (1-Month TSFR + 1.314%) due 3/15/38(b)(c)			408,657

See Notes to Financial Statements.

124

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
ASSET-BACKED SECURITIES – (continued)
			Upstart Pass-Through Trust:
	$	380,654	Series 2021-ST3, Class A, 2.000% due 5/20/27(c)		$	367,253
		469,884	Series 2021-ST4, Class A, 2.000% due 7/20/27(c)			448,920
			Upstart Securitization Trust:
		191,118	Series 2019-3, Class C, 5.381% due 1/21/30(c)			190,875
		679,740	Series 2020-1, Class C, 4.899% due 4/22/30(c)			670,737
		19,147	Series 2021-3, Class A, 0.830% due 7/20/31(c)			19,052
		124,725	Series 2021-4, Class A, 0.840% due 9/20/31(c)			123,182
		960,000	Vantage Data Centers Issuer LLC, Series 2019-1A, Class A2, 3.188% due 7/15/44(c)			931,006
		1,203,510	VCAT LLC, Series 2021-NPL6, Class A1, step bond to yield, 1.917% due 9/25/51(c)			1,112,094
		1,710,000	Venture 42 CLO Ltd., Series 2021-42A, Class A1A, 6.700% (3-Month TSFR + 1.392%) due 4/15/34(b)(c)			1,675,865
		660,000	Venture 43 CLO Ltd., Series 2021-43A, Class A1, 6.810% (3-Month TSFR + 1.502%) due 4/15/34(b)(c)			657,177
		985,867	Vericrest Opportunity Loan Transferee, Series 2021-NP11, Class A1, step bond to yield, 1.868% due 8/25/51(c)			903,333
		3,315,000	Verizon Master Trust, Series 2023-2, Class C, 5.380% due 4/13/28			3,273,358
		618,018	VOLT CIII LLC, Series 2021-CF1, Class A1, step bond to yield, 1.992% due 8/25/51(c)(d)			570,722
		679,970	VOLT XCIX LLC, Series 2021-NPL8, Class A1, step bond to yield, 2.116% due 4/25/51(c)			633,684
		396,852	VOLT XCV LLC, Series 2021-NPL4, Class A1, step bond to yield, 2.240% due 3/27/51(c)			380,717
			Wellfleet CLO X Ltd.:
		1,335,000	Series 2019-XA, Class A1R, 6.758% (3-Month TSFR + 1.432%) due 7/20/32(b)(c)			1,317,968
		1,000,000	Series 2019-XA, Class A2R, 7.338% (3-Month TSFR + 2.012%) due 7/20/32(b)(c)			973,976
		877,100	Wendy’s Funding LLC, Series 2021-1A, Class A2I, 2.370% due 6/15/51(c)			729,596
			Westlake Automobile Receivables Trust:
		200,000	Series 2023-1A, Class B, 5.410% due 1/18/28(c)			197,807
		895,000	Series 2023-2A, Class B, 6.140% due 3/15/28(c)			897,495
		985,000	Wingstop Funding LLC, Series 2020-1A, Class A2, 2.841% due 12/5/50(c)			864,861
		330,000	World Omni Auto Receivables Trust, Series 2023-A, Class B, 5.030% due 5/15/29			324,096
			TOTAL ASSET-BACKED SECURITIES (Cost – $211,706,225)			196,190,743
SENIOR LOANS(b) – 0.7%
		76,000	AAdvantage Loyalty IP Ltd., 10.338% (3-Month USD-LIBOR + 0.475%) due 4/20/28			78,862
		25,000	Access CIG LLC, 10.331% (1-Month USD-LIBOR + 0.500%) due 8/18/28			24,490

See Notes to Financial Statements.

125

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
SENIOR LOANS(b) – (continued)
			Acrisure LLC:
	$	110,000	8.946% (1-Month USD-LIBOR + 0.350%) due 2/15/27		$	107,702
		221,625	9.696% (1-Month USD-LIBOR + 0.425%) due 2/15/27			220,517
		40,625	Acuris Finance U.S. Inc., 9.392% (3-Month USD-LIBOR + 0.400%) due 2/16/28			40,289
		35,000	ADMI Corp., due 12/23/27(k)			32,185
		163,350	Air Canada, 9.128% (3-Month USD-LIBOR + 0.350%) due 8/11/28			163,321
		107,525	AlixPartners LLP, 8.196% (1-Month USD-LIBOR + 0.275%) due 2/4/28			107,360
		79,600	Alliant Holdings Intermediate LLC, 8.814% (1-Month USD-LIBOR + 0.350%) due 11/5/27			79,536
		49,125	Allied Universal Holdco LLC, 9.181% (1-Month USD-LIBOR + 0.375%) due 5/12/28			47,697
		61,321	Allspring Buyer LLC, 8.753% (3-Month USD-LIBOR + 0.325%) due 11/1/28			61,178
		39,900	Altice France SA, 10.808% (3-Month USD-LIBOR + 0.550%) due 8/15/28			34,838
		53,350	American Airlines Inc., 6.510% (6-Month USD-LIBOR + 0.175%) due 1/29/27			52,477
		9,750	AmWINS Group Inc., 7.696% (1-Month USD-LIBOR + 0.225%) due 2/19/28			9,738
		298,485	Ascend Learning LLC, 8.931% (1-Month USD-LIBOR + 0.350%) due 12/11/28			286,653
		240,383	Astra Acquisition Corp., 10.696% (1-Month USD-LIBOR + 0.525%) due 10/25/28			183,593
		20,000	Asurion LLC, 10.696% (1-Month USD-LIBOR + 0.525%) due 1/31/28			17,856
		137,694	athenahealth Group Inc., 8.820% (1-Month USD-LIBOR + 0.350%) due 2/15/29			135,915
		268,746	Aveanna Healthcare LLC, 0.000% due 7/17/28			234,481
		152,213	Axalta Coating Systems Dutch Holding B BV, 7.926% (1-Month USD-LIBOR + 0.250%) due 12/20/29			152,450
		331,095	Bausch + Lomb Corp., 8.592% (3-Month USD-LIBOR + 0.325%) due 5/10/27			323,275
		152,310	Boxer Parent Co., Inc., 9.196% (1-Month USD-LIBOR + 0.375%) due 10/2/25			152,187
		139,650	Caesars Entertainment Inc., 8.681% (1-Month USD-LIBOR + 0.325%) due 2/6/30			139,633
		14,438	Calpine Corp., 7.446% (1-Month USD-LIBOR + 0.200%) due 8/12/26			14,417
		299,579	Carnival Corp., 8.696% (1-Month USD-LIBOR + 0.325%) due 10/18/28			298,737
		150,475	Cengage Learning Inc., 10.323% (3-Month USD-LIBOR + 0.475%) due 7/14/26			149,928
		121,875	Charter Next Generation Inc., 9.196% (1-Month USD-LIBOR + 0.375%) due 12/1/27			120,941
		144,632	CHG Healthcare Services Inc. due 9/29/28(k)			143,638
		245,000	Clarios Global LP, 9.081% (1-Month USD-LIBOR + 0.375%) due 5/6/30			244,312
		8,630	Columbus McKinnon Corp., 8.230% (3-Month USD-LIBOR + 0.275%) due 5/14/28			8,630
		62,888	Connect Finco SARL, 8.831% (1-Month USD-LIBOR + 0.350%) due 12/11/26			62,681

See Notes to Financial Statements.

126

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
SENIOR LOANS(b) – (continued)
	$	78,295	Constellation Renewables LLC, 8.184% (3-Month USD-LIBOR + 0.250%) due 12/15/27		$	77,741
		102,792	Cornerstone OnDemand Inc., 9.253% (3-Month USD-LIBOR + 0.375%) due 10/16/28			97,609
		99,338	Cyxtera DC Holdings Inc., 10.250% (3-Month USD-LIBOR + 0.200%) due 5/1/24			59,404
		117,995	DCert Buyer Inc., 9.331% (1-Month USD-LIBOR + 0.400%) due 10/16/26			117,477
		15,000	DG Investment Intermediate Holdings 2 Inc., 12.196% (1-Month USD-LIBOR + 0.675%) due 3/30/29			13,208
		110,026	DIRECTV Financing LLC, 10.446% (1-Month USD-LIBOR + 0.500%) due 8/2/27			108,626
			Dynasty Acquisition Co., Inc.:
		245,000	9.315% (1-Month USD-LIBOR + 0.400%) due 8/24/28			244,451
		185,996	EAB Global Inc., 9.130% (3-Month USD-LIBOR + 0.350%) due 8/16/28			183,943
		24,438	Ecovyst Catalyst Technologies LLC, 7.969% (3-Month USD-LIBOR + 0.250%) due 6/9/28			24,311
			EG Group Ltd.:
		61,386	9.433% (1-Month USD-LIBOR + 0.400%) due 2/7/25			61,283
		36,426	9.414% (1-Month USD-LIBOR + 0.425%) due 3/31/26			36,267
			Envision Healthcare Corp.:
		65,209	8.992% (3-Month USD-LIBOR + 0.375%) due 3/31/27			119
		26,828	9.492% (3-Month USD-LIBOR + 0.425%) due 3/31/27			6,618
		327,125	Fertitta Entertainment LLC, 9.331% (1-Month USD-LIBOR + 0.400%) due 1/27/29			323,628
		20,787	Flame NewCo LLC, 11.431% (1-Month USD-LIBOR + 0.600%) due 6/30/28			19,401
		147,145	Flutter Entertainment PLC, 7.753% (3-Month USD-LIBOR + 0.225%) due 7/21/26			147,020
		290,000	Formula One Management Ltd., 8.331% (1-Month USD-LIBOR + 0.300%) due 1/15/30			290,725
		117,293	Gainwell Acquisition Corp., 9.342% (3-Month USD-LIBOR + 0.400%) due 10/1/27			115,351
		155,000	Garda World Security Corp., 9.668% (1-Month USD-LIBOR + 0.425%) due 10/30/26			154,640
		77,572	Getty Images Inc., 9.842% (3-Month USD-LIBOR + 0.450%) due 2/19/26			77,572
		33,365	Grab Holdings Inc., 9.946% (1-Month USD-LIBOR + 0.450%) due 1/29/26			33,490
		128,053	Graham Packaging Co., Inc., 8.446% (1-Month USD-LIBOR + 0.300%) due 8/4/27			127,686
		107,264	Great Outdoors Group LLC, 9.196% (1-Month USD-LIBOR + 0.375%) due 3/6/28			106,829
		24,308	Greystone Select Financial LLC, 10.582% (3-Month USD-LIBOR + 0.500%) due 6/16/28			23,214
		155,000	Grifols Worldwide Operations Ltd., 7.481% (1-Month USD-LIBOR + 0.200%) due 11/15/27			152,946

See Notes to Financial Statements.

127

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
SENIOR LOANS(b) – (continued)
	$	45,781	H-Food Holdings LLC, 9.269% (3-Month USD-LIBOR + 0.369%) due 5/23/25		$	41,335
		63,538	Horizon Therapeutics USA Inc., 7.180% (1-Month USD-LIBOR + 0.175%) due 3/15/28			63,449
		236,531	Hunter Douglas Holding BV, 8.891% (3-Month USD-LIBOR + 0.350%) due 2/26/29(d)			229,584
		97,663	Husky Injection Molding Systems Ltd., 8.731% (3-Month USD-LIBOR + 0.300%) due 3/28/25			96,946
		50,125	Hyland Software Inc., 11.696% (1-Month USD-LIBOR + 0.625%) due 7/7/25			49,686
			Icon PLC:
		141,296	7.753% (3-Month USD-LIBOR + 0.225%) due 7/3/28			141,311
		95,551	iHeartCommunications Inc., 8.446% (1-Month USD-LIBOR + 0.300%) due 5/1/26			85,056
		87,600	Ingram Micro Inc., 9.038% (3-Month USD-LIBOR + 0.350%) due 6/30/28			87,408
		237,489	Intelsat Jackson Holdings SA, 9.772% (3-Month USD-LIBOR + 0.425%) due 2/1/29			237,358
		163,892	ION Trading Finance Ltd. due 4/1/28(k)			160,341
		137,583	IRB Holding Corp., 8.431% (1-Month USD-LIBOR + 0.300%) due 12/15/27			136,737
		326,932	Jazz Pharmaceuticals PLC, 8.946% (1-Month USD-LIBOR + 0.350%) due 5/5/28			326,932
		72,887	Kronos Acquisition Holdings Inc., 9.253% (3-Month USD-LIBOR + 0.375%) due 12/22/26			71,875
		124,600	LifePoint Health Inc., 9.377% (3-Month USD-LIBOR + 0.375%) due 11/16/25			123,478
		33,616	Lions Gate Capital Holdings LLC, 7.681% (1-Month USD-LIBOR + 0.225%) due 3/24/25			33,522
		139,116	Lummus Technology Holdings V LLC, 8.946% (1-Month USD-LIBOR + 0.350%) due 6/30/27			138,299
		35,723	Maravai Intermediate Holdings LLC, 8.320% (3-Month USD-LIBOR + 0.300%) due 10/19/27			34,294
		147,000	Mavis Tire Express Services Topco Corp., 9.446% (1-Month USD-LIBOR + 0.400%) due 5/4/28			146,412
		78,504	McAfee Corp., 9.168% (1-Month USD-LIBOR + 0.375%) due 3/1/29			76,933
		424,625	Medline Borrower LP, 8.696% (1-Month USD-LIBOR + 0.325%) due 10/23/28			424,137
		104,753	Messer Industries GmbH, 8.003% (3-Month USD-LIBOR + 0.250%) due 3/2/26			104,680
		88,000	Mileage Plus Holdings LLC, 10.764% (3-Month USD-LIBOR + 0.525%) due 6/21/27			91,670
		45,000	Misys Ltd., 12.981% (3-Month USD-LIBOR + 0.725%) due 6/13/25			44,934
		28,106	NASCAR Holdings LLC, 7.946% (1-Month USD-LIBOR + 0.250%) due 10/19/26			28,167
		43,000	NCR Corp., 7.946% (1-Month USD-LIBOR + 0.250%) due 8/28/26			42,866

See Notes to Financial Statements.

128

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
SENIOR LOANS(b) – (continued)
	$	172,375	Olympus Water US Holding Corp., 9.253% (3-Month USD-LIBOR + 0.375%) due 11/9/28		$	169,683
		298,352	OneDigital Borrower LLC, 9.681% (1-Month USD-LIBOR + 0.425%) due 11/16/27			297,233
		195,000	Organon & Co., 8.431% (1-Month USD-LIBOR + 0.300%) due 6/2/28			195,183
		330,000	Osmosis Buyer Ltd., 9.062% (1-Month USD-LIBOR + 0.375%) due 7/31/28			328,644
		53,588	Packaging Coordinators Midco Inc., 9.003% (3-Month USD-LIBOR + 0.350%) due 11/30/27			53,292
		43,153	Packers Holdings LLC, 8.664% (1-Month USD-LIBOR + 0.325%) due 3/9/28			27,995
		44,497	PCI Gaming Authority, 7.946% (1-Month USD-LIBOR + 0.250%) due 5/29/26			44,489
		114,977	Peraton Corp., 9.181% (1-Month USD-LIBOR + 0.375%) due 2/1/28			113,738
		109,723	Perrigo Co. PLC, 7.681% (1-Month USD-LIBOR + 0.225%) due 4/20/29			109,065
		73,500	PetSmart LLC, 9.181% (1-Month USD-LIBOR + 0.375%) due 2/11/28			73,271
		4,873	PetVet Care Centers LLC, 8.931% (1-Month USD-LIBOR + 0.350%) due 2/14/25			4,834
		126,100	PG&E Corp., 8.446% (1-Month USD-LIBOR + 0.300%) due 6/23/25			125,855
		109,175	PMHC II Inc., 9.698% (3-Month USD-LIBOR + 0.425%) due 4/23/29			101,743
		84,277	Polaris Newco LLC, 9.538% (3-Month USD-LIBOR + 0.400%) due 6/2/28			81,697
		75,127	Pregis TopCo LLC, 9.081% (1-Month USD-LIBOR + 0.375%) due 7/31/26			75,049
		192,075	Pretium PKG Holdings Inc., 9.530% (3-Month USD-LIBOR + 0.400%) due 10/2/28			116,797
		280,725	Proofpoint Inc., 8.696% (1-Month USD-LIBOR + 0.325%) due 8/31/28			277,699
		170,762	Pug LLC, 8.946% (1-Month USD-LIBOR + 0.350%) due 2/12/27			161,797
		116,857	Radiate Holdco LLC, 8.696% (1-Month USD-LIBOR + 0.325%) due 9/25/26			95,440
		330,000	RealPage Inc., 8.446% (1-Month USD-LIBOR + 0.300%) due 4/24/28			325,987
		9,211	RentPath Inc., 0.000% due 12/31/25(d)			92
		40,294	Reynolds Consumer Products LLC, 7.181% (1-Month USD-LIBOR + 0.175%) due 2/4/27			40,253
		149,812	Scientific Games Holdings LP, 8.768% (3-Month USD-LIBOR + 0.350%) due 4/4/29			148,922
		220,000	Select Medical Corp., 0.000% due 3/6/27			220,000
		76,500	SkyMiles IP Ltd., 9.076% (3-Month USD-LIBOR + 0.375%) due 10/20/27			79,551
		19,300	SMG US Midco 2 Inc., 8.131% (3-Month USD-LIBOR + 0.250%) due 1/23/25			19,246
		330,000	Sophia LP, 9.038% (1-Month USD-LIBOR + 0.350%) due 10/7/27			329,244
		300,000	Sotera Health Holdings LLC, 8.196% (1-Month USD-LIBOR + 0.275%) due 12/11/26			296,343
		37,881	Spin Holdco Inc., 9.230% (3-Month USD-LIBOR + 0.400%) due 3/4/28			31,631
		298,899	SRS Distribution Inc., 8.946% (1-Month USD-LIBOR + 0.350%) due 6/2/28			294,604
		48,772	Staples Inc., 10.634% (3-Month USD-LIBOR + 0.500%) due 4/16/26			41,738
		33,870	Sunshine Luxembourg VII SARL, 9.092% (3-Month USD-LIBOR + 0.375%) due 10/1/26			33,889

See Notes to Financial Statements.

129

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Security	Value
SENIOR LOANS(b) – (continued)
	$	127,702	SWF Holdings I Corp., 9.446% (1-Month USD-LIBOR + 0.400%) due 10/6/28		$	105,993
		49,000	Tecta America Corp., 9.446% (1-Month USD-LIBOR + 0.400%) due 4/10/28			48,954
		152,675	Tempo Acquisition LLC, 8.331% (1-Month USD-LIBOR + 0.300%) due 8/31/28			152,866
		287,396	Trans Union LLC, 7.696% (1-Month USD-LIBOR + 0.225%) due 12/1/28			287,118
		164,588	TransDigm Inc., 8.492% (3-Month USD-LIBOR + 0.325%) due 8/24/28			164,662
		100,371	Travelport Finance (Luxembourg) SARL, 6.931% (1-Month USD-LIBOR + 0.150%) due 2/28/25			95,394
		43,675	Tricorbraun Holdings Inc., 8.696% (1-Month USD-LIBOR + 0.325%) due 3/3/28			42,528
		132,300	Triton Water Holdings Inc., 8.753% (3-Month USD-LIBOR + 0.325%) due 3/31/28			129,894
		352,560	UKG Inc., 8.618% (3-Month USD-LIBOR + 0.325%) due 5/4/26			352,154
		31,039	Ultra Clean Holdings Inc., 9.196% (1-Month USD-LIBOR + 0.375%) due 8/27/25			31,039
		42,791	United Airlines Inc., 9.292% (3-Month USD-LIBOR + 0.375%) due 4/21/28			42,844
		37,193	Upbound Group Inc., 8.881% (3-Month USD-LIBOR + 0.325%) due 2/17/28			37,054
		165,725	US Foods Inc., 7.446% (1-Month USD-LIBOR + 0.200%) due 9/13/26			165,725
		4,900	Verscend Holding Corp., 9.446% (1-Month USD-LIBOR + 0.400%) due 8/27/25			4,893
		38,987	WaterBridge Midstream Operating LLC, 11.363% (3-Month USD-LIBOR + 0.575%) due 6/22/26			39,071
		107,438	WestJet Airlines Ltd., 8.415% (1-Month USD-LIBOR + 0.300%) due 12/11/26			105,185
		20,000	Ziggo Financing Partnership, 7.925% (1-Month USD-LIBOR + 0.250%) due 4/30/28			19,531
			TOTAL SENIOR LOANS (Cost – $15,865,710)			15,490,395

Face
Amount/Units

Rating††

Security

Value

MUNICIPAL BONDS – 0.1%

California – 0.0%

20,000

AA-

Regents of the University of California Medical Center Pooled Revenue,
Revenue Bonds, 6.548% due 5/15/48

23,009

360,000

AA-

State of California, GO, 7.300% due 10/1/39

426,336

Total California

449,345

Massachusetts – 0.0%

546,203

Aa1(l)

Commonwealth of Massachusetts, Revenue Bonds, 4.110% due 7/15/31

531,410

New York – 0.1%

680,000

BBB+

Metropolitan Transportation Authority, Revenue Bonds, 6.814% due
11/15/40

735,565

200,000

New York State Thruway Authority, Revenue Bonds, 2.900% due 1/1/35

167,219

920,000

A+

New York Transportation Development Corp., Revenue Bonds, 4.248% due
9/1/35

888,051

Total New York

1,790,835

See Notes to Financial Statements.

130

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Texas – 0.0%
	$	465,000	A+	Dallas Fort Worth International Airport, Revenue Bonds, 4.507% due 11/1/51		$	416,404
				TOTAL MUNICIPAL BONDS (Cost – $3,737,401)			3,187,994
SOVEREIGN BONDS – 0.1%
Bermuda – 0.0%
		890,000		Bermuda Government International Bond, 2.375% due 8/20/30			727,842
Chile – 0.0%
		200,000		Chile Government International Bond, 3.100% due 1/22/61			125,760
Colombia – 0.0%
		600,000		Colombia Government International Bond, 4.125% due 5/15/51			360,108
Dominican Republic – 0.0%
		100,000		Dominican Republic International Bond, 8.625% due 4/20/27			104,252
Hungary – 0.0%
		595,000		Hungary Government International Bond, 5.250% due 6/16/29(c)			581,272
Mexico – 0.0%
		579,000		Mexico Government International Bond, 6.338% due 5/4/53			577,962
Panama – 0.0%
				Panama Government International Bond:
		200,000		4.500% due 4/1/56			144,824
		300,000		3.870% due 7/23/60			191,607
				Total Panama			336,431
Peru – 0.0%
		200,000		Corp. Financiera de Desarrollo SA, 5.250% due 7/15/29(b)			194,752
Romania – 0.1%
				Romanian Government International Bond:
		636,000		3.000% due 2/27/27(c)			580,668
		1,228,000		3.000% due 2/14/31			1,013,355
				Total Romania			1,594,023
Saudi Arabia – 0.0%
		430,000		Saudi Government International Bond, 5.000% due 1/18/53(c)			381,218
South Africa – 0.0%
		200,000		Republic of South Africa Government International Bond, 4.300% due 10/12/28			176,269
				TOTAL SOVEREIGN BONDS (Cost – $6,151,949)			5,159,889

See Notes to Financial Statements.

131

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Shares/Units		Security	Value
OPEN-END FUND – 2.7%
	593,202	iShares 20+ Year Treasury Bond		$	57,327,041
		(Cost – $58,604,954)
COMMON STOCKS – 0.0%
COMMUNICATIONS – 0.0%
Telecommunications – 0.0%
	1,030	Intelsat SA*(d)			22,660
INDUSTRIAL – 0.0%
Metals & Mining – 0.0%
	1,907	Flame Aggregator LLC(d)(m)			11,976
		Total Metals & Mining			11,976
		TOTAL INDUSTRIAL			11,976
		TOTAL COMMON STOCKS (Cost – $84,901)			34,636
RIGHTS – 0.0%
	214	Intelsat Jackson Holdings SA*(d)			1,204
		TOTAL RIGHTS (Cost – $0)			1,204
		TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS (Cost – $2,426,534,257)			2,182,559,245

Face Amount†			Security	Value
SHORT-TERM INVESTMENTS – 1.4%
TIME DEPOSITS – 1.3%
	$	3,114,224	ANZ National Bank – London, 4.680% due 9/1/23			3,114,224
		7,145,266	Barclays Bank PLC – London, 4.680% due 9/1/23			7,145,266
		95EUR	Citibank – London, 2.630% due 9/1/23			103
		6,825,899	Citibank – New York, 4.680% due 9/1/23			6,825,899
		136,428	JPMorgan Chase & Co. – New York, 4.680% due 9/1/23			136,428
		10,611,507	Sumitomo Mitsui Banking Corp. – Tokyo, 4.680% due 9/1/23			10,611,507
			TOTAL TIME DEPOSITS (Cost – $27,833,427)			27,833,427
U.S. GOVERNMENT OBLIGATION – 0.1%
		900,000	U.S. Treasury Bills, 4.960% due 12/28/23(n) (Cost – $885,790)			884,402
			TOTAL SHORT-TERM INVESTMENTS (Cost – $28,719,217)			28,717,829
			TOTAL INVESTMENTS – 104.6% (Cost – $2,455,253,474)			2,211,277,074
			Liabilities in Excess of Other Assets – (4.6)%			(98,241,729)
			TOTAL NET ASSETS – 100.0%		$	2,113,035,345

†

Face amount denominated in U.S. dollars, unless otherwise noted.

††

All ratings are by Standard & Poor’s Rating Service, unless otherwise noted.

See Notes to Financial Statements.

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Non-income producing security.

(a)

This security is traded on a TBA basis (See Note 5).

(b)

Variable rate security. Interest rate disclosed is that which was in effect at August 31, 2023.

(c)

(d)

Illiquid security. The aggregate value of illiquid holdings at August 31, 2023, amounts to $4,680,549 and represents 0.22% of net assets.

(e)

Security is currently in default.

(f)

Security is perpetual in nature and has no stated maturity date.

(g)

Payment in-kind security for which part of the income earned may be paid as additional principal.

(h)

Interest only security.

(i)

Principal only security.

(j)

When-Issued or delayed delivery security.

(k)

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.

(l)

Rating by Moody’s Investors Service. All ratings are unaudited.

(m)

Security is valued in good faith at fair value by or under the direction of the Board of Trustees using significant unobservable inputs.

(n)

Rate shown represents yield-to-maturity.

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
Plains All American Pipeline LP/PAA Finance Corp., Senior Unsecured Notes:
3.550% due 12/15/29		3/24/2022		$	134,858		$	123,080		0.00%
TransCanada PipeLines Ltd., Senior Unsecured Notes, 2.500% due 10/12/31		10/7/2021			476,842			322,699		0.01%
Transcontinental Gas Pipe Line Co. LLC, Senior Unsecured Notes, 3.250% due 5/15/30		3/17/2022			220,781			136,616		0.02%
Total							$	582,395		0.03%

Abbreviations used in this schedule:

CBT

— Chicago Board of Trade

CLO

— Collateralized Loan Obligation

CMT

— Constant Maturity Treasury Index

— General Obligation

LIBOR

— London Interbank Offered Rate

LLC

— Limited Liability Company

— Limited Partnership

See Notes to Financial Statements.

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

Abbreviations used in this schedule (continued):

PLC

— Public Limited Company

REMICS

— Real Estate Mortgage Investment Conduit

SARL

— Société à Responsabilité Limitée

SOFR

— Secured Overnight Financing Rate

TSFR

— CME Term SOFR Reference Rate

Summary of Investments by Security Type^

	Mortgage-Backed Securities					23.2%
	Corporate Bonds & Notes					22.8
	Collateralized Mortgage Obligations					20.3
	U.S. Government Obligations					19.9
	Asset-Backed Securities					8.9
	Open-End Fund					2.6
	Senior Loans					0.7
	Sovereign Bonds					0.2
	Municipal Bonds					0.1
	Common Stocks					0.0*
	Rights					0.0*
	Short-Term Investments					1.3
						100.0%

As a percentage of total investments.

Positions represent less than 0.05%.

At August 31, 2023, Destinations Core Fixed Income Fund had open exchange traded futures contracts as described below.

The unrealized appreciation/(depreciation) on the open contracts reflected in the accompanying financial statements were as follows:

Open Futures Contracts	Number of Contracts		Expiration Date (Month/Year)		Notional Amounts			Market Value			Unrealized Appreciation/ (Depreciation)
Contracts to Buy:
U.S. 10 Year Note (CBT)		668		12/23		$	73,537,447		$	74,168,875		$	631,428
U.S. 2 Year Note (CBT)		210		12/23			42,663,492			42,798,985			135,493
													766,921
Contracts to Sell:
U.S. 10 Year Ultra		275		12/23		$	(31,589,140)		$	31,930,078		$	(340,938)
U.S. 5 Year Note (CBT)		459		12/23			(48,709,750)			49,077,140			(367,390)
U.S. Long Bond (CBT)		124		12/23			(14,894,071)			15,089,251			(195,180)
U.S. Ultra Bond (CBT)		53		12/23			(6,776,992)			6,861,844			(84,852)
													(988,360)
Net Unrealized Depreciation on Open Exchange Traded Futures Contracts												$	(221,439)

At August 31, 2023, Destinations Core Fixed Income Fund had deposited cash of $152,419 with a broker or brokers as margin collateral on open exchange traded futures contracts.

See Notes to Financial Statements.

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (continued)

At August 31, 2023, Destinations Core Fixed Income Fund held the following Centrally Cleared Interest Rate Swap Contracts:

Pay/Receive Floating Rate	Floating Rate Index	Fixed Rate		Maturity Date		Notional Amounts	Market Value			Upfront Premiums Paid/ (Received)			Unrealized Appreciation/ (Depreciation)
Receive	1D SOFR		3.590%		9/20/53	USD 2,765,000		$	(31,064)		$	11,920		$	(42,984)
Receive	1D SOFR		3.250%		6/21/53	USD 960,000			53,773			(10,562)			64,335
Receive	1D SOFR		2.880%		3/15/53	USD 990,000			128,047			11,594			116,453
Receive	1D SOFR		2.970%		3/15/53	USD 3,065,000			345,736			9,928			335,808
								$	496,492		$	22,880		$	473,612

At August 31, 2023, Destinations Core Fixed Income Fund held the following Centrally Cleared Credit Default Swap Contracts:

Centrally Cleared – Credit Default Swaps on Corporate and Sovereign Issues – Sell Protection(1)

Reference Obligation	Fixed Deal Receive Rate		Maturity Date		Payment Frequency		Implied Credit Spread at 8/31/23(2)		Notional Amounts(3)	Market Value			Upfront Premiums Paid/ (Received)			Unrealized Appreciation
CDX.NA.IG.40		1.000%		6/20/28		3-Month		0.636%	USD 9,245,000		$	162,413		$	116,786		$	45,627
											$	162,413		$	116,786		$	45,627

At August 31, 2023, Destinations Core Fixed Income Fund had deposited cash of $697,556 with a broker or brokers as margin collateral on open centrally cleared swap contracts.

(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.

Schedule of Forward Sale Commitments

Face Amounts			Security	Value
			Federal National Mortgage Association:
	$	6,886,000	2.500% due 9/1/53(a) (Proceeds – $5,763,513)		$	(5,704,083)
		4,815,000	3.000% due 9/1/53(a) (Proceeds – $4,192,719)			(4,148,235)
		752,000	3.500% due 9/1/53(a) (Proceeds – $675,155)			(672,129)
		4,080,000	4.000% due 9/1/53(a) (Proceeds – $3,766,051)			(3,765,713)

See Notes to Financial Statements.

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Core Fixed Income Fund (concluded)

Schedule of Forward Sale Commitments – (continued)

Face Amounts			Security	Value
	$	8,340,000	5.000% due 9/1/53(a) (Proceeds – $8,088,299)		$	(8,086,705)
		854,000	5.500% due 9/1/53(a) (Proceeds – $845,927)			(843,192)
			Government National Mortgage Association:
		1,755,000	3.000% due 9/1/53(a) (Proceeds – $1,528,632)			(1,542,960)
		415,000	4.000% due 9/1/53(a) (Proceeds – $386,517)			(386,663)
			TOTAL OPEN FORWARD SALE COMMITMENTS
			(Proceeds – $25,246,813)		$	(25,149,680)

(a)

This security is traded on a TBA basis (see Note 5).

See Notes to Financial Statements.

136

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Low Duration Fixed Income Fund

Face Amount/Units†			Security	Value
CORPORATE BONDS & NOTES – 46.9%
Basic Materials – 2.9%
	$	200,000	Braskem Netherlands Finance BV, Company Guaranteed Notes, 8.500% (5-Year CMT Index + 8.220%) due 1/23/81(a)		$	201,150
		200,000	Freeport Indonesia PT, Senior Unsecured Notes, 4.763% due 4/14/27(b)			192,079
		250,000	Freeport-McMoRan Inc., Company Guaranteed Notes, 4.125% due 3/1/28			231,885
			Glencore Funding LLC, Company Guaranteed Notes:
		15,000	4.125% due 3/12/24(b)			14,862
		60,000	4.000% due 4/16/25(b)			58,515
		155,000	1.625% due 9/1/25(b)			143,414
		200,000	Indonesia Asahan Aluminium PT/Mineral Industri Indonesia Persero PT, Senior Unsecured Notes, 4.750% due 5/15/25			196,008
		200,000	Industrias Penoles SAB de CV, Senior Unsecured Notes, 4.150% due 9/12/29			181,722
		6,059,000	Infrabuild Australia Pty Ltd., Senior Secured Notes, 12.000% due 10/1/24(b)			5,882,206
		200,000	MEGlobal Canada ULC, Company Guaranteed Notes, 5.000% due 5/18/25			196,200
		200,000	Sasol Financing USA LLC, Company Guaranteed Notes, 4.375% due 9/18/26			179,751
		6,931,000	Tacora Resources Inc., Senior Secured Notes, 8.250% due 5/15/26(b)(c)			4,193,255
			Total Basic Materials			11,671,047
Communications – 10.8%
		8,600,000	BuzzFeed Inc., Company Guaranteed Notes, 8.500% due 12/3/26(b)			5,507,440
			Charter Communications Operating LLC/Charter Communications Operating Capital, Senior Secured Notes:
		2,599,000	4.500% due 2/1/24			2,580,055
		401,000	7.284% (3-Month TSFR + 1.912%) due 2/1/24(a)			402,651
		7,382,000	Clear Channel International BV, Senior Secured Notes, 6.625% due 8/1/25(b)			7,314,796
		2,548,000	Connect Finco SARL/Connect US Finco LLC, Senior Secured Notes, 6.750% due 10/1/26(b)			2,417,177
		195,000	Expedia Group Inc., Company Guaranteed Notes, 6.250% due 5/1/25(b)			195,845
		4,209,000	Getty Images Inc., Company Guaranteed Notes, 9.750% due 3/1/27(b)			4,202,095
		120,000	Meta Platforms Inc., Senior Unsecured Notes, 4.600% due 5/15/28			118,952
		180,000	Millicom International Cellular SA, Senior Unsecured Notes, 5.125% due 1/15/28			163,209
		6,342,000EUR	Opnet SpA, Senior Secured Notes, 9.848% (3-Month EURIBOR + 6.000%) due 2/9/26(a)(b)(d)			6,876,630
		200,000	Sable International Finance Ltd., Senior Secured Notes, 5.750% due 9/7/27			185,500
		7,609,000	Sprint LLC, Company Guaranteed Notes, 7.875% due 9/15/23			7,612,272
		4,821,000	TEGNA Inc., Company Guaranteed Notes, 4.750% due 3/15/26(b)			4,593,597
		200,000	Telefonica Celular del Paraguay SA, Senior Unsecured Notes, 5.875% due 4/15/27			189,500
		1,818,000	Uber Technologies Inc., Company Guaranteed Notes, 7.500% due 5/15/25(b)			1,835,551
			Total Communications			44,195,270

See Notes to Financial Statements.

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Low Duration Fixed Income Fund (continued)

Face Amount/Units†			Security	Value
CORPORATE BONDS & NOTES – (continued)
Consumer Cyclical – 4.1%
	$	1,739,000	American Greetings Corp., Company Guaranteed Notes, 8.750% due 4/15/25(b)		$	1,711,655
		1,998,000EUR	DEAG Deutsche Entertainment AG, Senior Unsecured Notes, 8.000% due 7/12/26			2,213,217
		220,000	Dollar Tree Inc., Senior Unsecured Notes, 4.000% due 5/15/25			213,434
		215,000	General Motors Financial Co., Inc., Company Guaranteed Notes, 5.250% due 3/1/26			211,730
		2,000,000EUR	Georg Jensen A/S, Secured Notes, 10.323% due 5/14/25(a)			2,174,021
		6,823,199	Hawaiian Airlines 2013-1 Class A Pass-Through Certificates, Pass-Thru Certificates, 3.900% due 1/15/26			6,174,431
		354,000	Hercules Achievement Inc./Varsity Brands Holding Co., Inc., Senior Secured Notes, 13.503% (3-Month TSFR + 8.262%) due 12/22/24(a)(b)			346,529
		230,000	Hyundai Capital America, Senior Unsecured Notes, 1.000% due 9/17/24(b)			218,624
		215,000	Marriott International Inc., Senior Unsecured Notes, 3.600% due 4/15/24			211,694
		1,094,000EUR	Secop Group Holding GmbH, Senior Secured Notes, 11.954% (3-Month EURIBOR + 8.400%) due 12/29/26(a)			1,192,155
		225,000	Warnermedia Holdings Inc., Company Guaranteed Notes, 3.788% due 3/15/25			217,728
		2,068,000	Yum! Brands Inc., Senior Unsecured Notes, 3.875% due 11/1/23			2,057,794
			Total Consumer Cyclical			16,943,012
Consumer Non-cyclical – 6.5%
		183,000	Adani International Container Terminal Pvt Ltd., Senior Secured Notes, 3.000% due 2/16/31			138,692
		200,000	Adani Ports & Special Economic Zone Ltd., Senior Unsecured Notes, 4.000% due 7/30/27			166,592
		210,000	Amgen Inc., Senior Unsecured Notes, 5.507% due 3/2/26			210,018
		200,000	BRF GmbH, Company Guaranteed Notes, 4.350% due 9/29/26			187,968
		13,681,000	Columbia Care Inc., Senior Secured Notes, 9.500% due 2/3/26(d)			11,902,470
		210,000	Constellation Brands Inc., Senior Unsecured Notes, 5.000% due 2/2/26			207,333
		3,750,000SEK	Desenio Group AB, 9.221% (3-Month SEK-STIBOR + 5.500%) due 12/16/24(a)			228,979
		215,000	Elevance Health Inc., Senior Unsecured Notes, 3.500% due 8/15/24			210,379
			HCA Inc., Company Guaranteed Notes:
		195,000	5.000% due 3/15/24			193,879
		20,000	5.375% due 2/1/25			19,870
			JBS USA LUX SA/JBS USA Food Co./JBS USA Finance Inc., Company Guaranteed Notes:
		100,000	2.500% due 1/15/27			89,890
		100,000	3.000% due 2/2/29			85,801
		8,497,000	Leafly Holdings Inc., Senior Unsecured Notes, 8.000% due 1/31/25(e)(d)			7,222,450
		1,678,000	Nathan’s Famous Inc., Senior Secured Notes, 6.625% due 11/1/25(b)			1,668,885
		200,000	NBM US Holdings Inc., Company Guaranteed Notes, 7.000% due 5/14/26			197,230

See Notes to Financial Statements.

138

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Low Duration Fixed Income Fund (continued)

Face Amount/Units†			Security	Value
CORPORATE BONDS & NOTES – (continued)
Consumer Non-cyclical – (continued)
	$	220,000	Philip Morris International Inc., Senior Unsecured Notes, 4.875% due 2/13/26		$	217,855
		200,000	PSA Treasury Pte Ltd., Company Guaranteed Notes, 2.500% due 4/12/26			185,970
			Royalty Pharma PLC, Company Guaranteed Notes:
		100,000	0.750% due 9/2/23			100,000
		40,000	1.200% due 9/2/25			36,436
		95,000	1.750% due 9/2/27			81,962
		7,626,000	UpHealth Inc., Senior Unsecured Notes, 6.250% due 6/15/26(b)			3,050,400
		230,000	Zimmer Biomet Holdings Inc., Senior Unsecured Notes, 1.450% due 11/22/24			218,352
			Total Consumer Non-cyclical			26,621,411
Diversified – 0.6%
		2,505,000EUR	LR Global Holding GmbH, Senior Secured Notes, 11.053% (3-Month EURIBOR + 7.250%) due 2/3/25(a)			2,621,105
Energy – 3.2%
		220,833	AI Candelaria Spain SA, Senior Secured Notes, 7.500% due 12/15/28			203,995
		200,000	Cosan Luxembourg SA, Company Guaranteed Notes, 7.000% due 1/20/27			199,605
		100,000	Ecopetrol SA, Senior Unsecured Notes, 4.125% due 1/16/25			96,912
			Energy Transfer LP, Senior Unsecured Notes:
		180,000	5.875% due 1/15/24			179,851
		10,000	4.500% due 4/15/24			9,903
		5,000	4.050% due 3/15/25			4,867
		20,000	4.750% due 1/15/26			19,582
		145,874	Galaxy Pipeline Assets Bidco Ltd., Senior Secured Notes, 1.750% due 9/30/27			134,571
		141,200	GNL Quintero SA, Senior Unsecured Notes, 4.634% due 7/31/29			135,981
		2,277,000	Greenfire Resources Inc., Senior Secured Notes, 12.000% due 8/15/25(b)			2,402,235
		176,852	Guara Norte SARL, Senior Secured Notes, 5.198% due 6/15/34			154,736
		3,785,000	HighPeak Energy Inc., Company Guaranteed Notes, 10.000% due 2/15/24(b)(d)			3,851,237
		166,400	Hunt Oil Co. of Peru LLC Sucursal Del Peru, Senior Unsecured Notes, 6.375% due 6/1/28			158,356
		4,705,000	NGL Energy Operating LLC/NGL Energy Finance Corp., Senior Secured Notes, 7.500% due 2/1/26(b)			4,684,182
		200,000	Oleoducto Central SA, Senior Unsecured Notes, 4.000% due 7/14/27			179,454
		200,000	ONGC Videsh Ltd., Company Guaranteed Notes, 4.625% due 7/15/24			197,675
		200,000	Petrobras Global Finance BV, Company Guaranteed Notes, 7.375% due 1/17/27			207,041
		200,000	Transportadora de Gas del Peru SA, Senior Unsecured Notes, 4.250% due 4/30/28			192,134
			Total Energy			13,012,317
Financial – 5.2%
		215,000	American Express Co., Senior Unsecured Notes, 4.990% (SOFRRATE + 0.999%) due 5/1/26(a)			211,930

See Notes to Financial Statements.

139

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Low Duration Fixed Income Fund (continued)

Face Amount/Units†			Security	Value
CORPORATE BONDS & NOTES – (continued)
Financial – (continued)
	$	200,000	Athene Global Funding, Senior Secured Notes, 6.035% (SOFRRATE + 0.700%) due 5/24/24(a)(b)		$	198,541
			Avolon Holdings Funding Ltd.:
		15,000	Company Guaranteed Notes, 5.125% due 10/1/23(b)			14,976
		225,000	Senior Unsecured Notes, 2.125% due 2/21/26(b)			202,166
		100,000	Banco BBVA Peru SA, Subordinated Notes, 5.250% (5-Year CMT Index + 2.750%) due 9/22/29(a)			97,506
		200,000	Banco Bilbao Vizcaya Argentaria Colombia SA, Subordinated Notes, 4.875% due 4/21/25			193,295
		150,000	Banco Continental SAECA, Senior Unsecured Notes, 2.750% due 12/10/25(b)			136,345
		200,000	Banco de Bogota SA, Subordinated Notes, 6.250% due 5/12/26			194,785
		200,000	Banco de Credito del Peru SA, Subordinated Notes, 3.125% (5-Year CMT Index + 3.000%) due 7/1/30(a)			185,777
		150,000	Banco Internacional del Peru SAA Interbank, Subordinated Notes, 4.000% (5-Year CMT Index + 3.711%) due 7/8/30(a)			137,625
		200,000	Banco Nacional de Comercio Exterior SNC, Subordinated Notes, 2.720% (5-Year CMT Index + 2.000%) due 8/11/31(a)			167,732
		200,000	Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand, Subordinated Notes, 5.950% (5-Year CMT Index + 2.995%) due 10/1/28(a)			197,891
		200,000	Bancolombia SA, Subordinated Notes, 6.909% (5-Year CMT Index + 2.929%) due 10/18/27(a)			193,239
		200,000	Bank Hapoalim BM, Subordinated Notes, 3.255% (5-Year CMT Index + 2.155%) due 1/21/32(a)(b)			171,453
		200,000	Bank Leumi Le-Israel BM, Subordinated Notes, 3.275% (5-Year CMT Index + 1.631%) due 1/29/31(a)(b)			179,720
		220,000	Bank of America Corp., Senior Unsecured Notes, 3.458% (3-Month TSFR + 1.232%) due 3/15/25(a)			216,866
		210,000	Bank of Montreal, Senior Unsecured Notes, 5.908% (SOFRRATE + 0.710%) due 3/8/24(a)			210,264
		220,000	Bank of Nova Scotia, Senior Unsecured Notes, 4.750% due 2/2/26			216,077
		3,894,000	Barclays PLC, Junior Subordinated Notes, 7.750% (5-Year USD Swap Rate + 4.842%)(a)(f)			3,893,728
		200,000	BBVA Bancomer SA, Subordinated Notes, 5.350% (5-Year CMT Index + 3.000%) due 11/12/29(a)			193,099
		200,000	Capital One Financial Corp., Senior Unsecured Notes, 4.985% (SOFRRATE + 2.160%) due 7/24/26(a)			195,486
		330,000	Citigroup Inc., Senior Unsecured Notes, 3.352% (3-Month TSFR + 1.158%) due 4/24/25(a)			323,885
		200,000	DBS Group Holdings Ltd., Subordinated Notes, 4.520% (5-Year USD 1100 Run ICE Swap Rate + 1.590%) due 12/11/28(a)			199,206
		344,000	Five Point Operating Co. LP/Five Point Capital Corp., Company Guaranteed Notes, 7.875% due 11/15/25(b)			320,785

See Notes to Financial Statements.

140

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Low Duration Fixed Income Fund (continued)

Face Amount/Units†			Security	Value
CORPORATE BONDS & NOTES – (continued)
Financial – (continued)
	$	200,000	Global Bank Corp., Senior Unsecured Notes, 5.250% (3-Month USD-LIBOR + 3.300%) due 4/16/29(a)		$	187,700
		225,000	Goldman Sachs Group Inc., Senior Unsecured Notes, 3.500% due 4/1/25			217,070
		844,000	Icahn Enterprises LP/Icahn Enterprises Finance Corp., Company Guaranteed Notes, 4.750% due 9/15/24			815,703
		14,069	Interoceanica IV Finance Ltd., Senior Secured Notes, zero coupon, due 11/30/25			12,846
			JPMorgan Chase & Co., Senior Unsecured Notes:
		105,000	3.220% (3-Month TSFR + 1.417%) due 3/1/25(a)			103,548
		220,000	3.900% due 7/15/25			213,787
			Morgan Stanley, Senior Unsecured Notes:
		160,000	5.785% (SOFRRATE + 0.455%) due 1/25/24(a)			159,966
		60,000	3.875% due 1/27/26			57,749
		200,000	Multibank Inc., Senior Unsecured Notes, 7.750% due 2/3/28(b)			203,020
		200,000	NongHyup Bank, Senior Unsecured Notes, 1.250% due 7/20/25			184,474
		20,400,000NOK	Nordic Capital Fund II A/S, 10.620% (3-Month NIBOR + 6.250%) due 6/30/24(a)			1,899,700
		100,000	PNC Financial Services Group Inc., Senior Unsecured Notes, 5.812% (SOFRRATE + 1.322%) due 6/12/26(a)			99,904
		225,000	Royal Bank of Canada, Senior Unsecured Notes, 3.375% due 4/14/25			217,661
		7,593,000	StoneX Group Inc., Senior Secured Notes, 8.625% due 6/15/25(b)			7,688,596
		2,500,000SEK	Storskogen Group AB, Senior Unsecured Notes, 10.707% (3-Month SEK-STIBOR + 6.875%) due 3/22/27(a)			232,347
		215,000	Toronto-Dominion Bank, Senior Unsecured Notes, 0.700% due 9/10/24			204,497
		205,000	Truist Financial Corp., Senior Unsecured Notes, 4.260% (SOFRRATE + 1.456%) due 7/28/26(a)			198,034
		210,000	Wells Fargo & Co., Senior Unsecured Notes, 2.406% (3-Month TSFR + 1.087%) due 10/30/25(a)			201,371
			Welltower OP LLC, Company Guaranteed Notes:
		215,000	3.625% due 3/15/24			212,226
		10,000	4.000% due 6/1/25			9,691
			Total Financial			21,372,267
Healthcare – 1.3%
		6,180,606	ProSomnus Holdings Inc., zero coupon, due 12/31/49(e)(d)			5,466,400
Industrial – 9.9%
		3,845,054	Anagram International Inc./Anagram Holdings LLC, Senior Secured Notes, 15.000% due 8/15/25(b)			3,691,252
		7,090,000	Ball Corp., Company Guaranteed Notes, 4.000% due 11/15/23			7,050,445
		267,172	Bioceanico Sovereign Certificate Ltd., Senior Secured Notes, zero coupon, due 6/5/34			188,461

See Notes to Financial Statements.

141

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Low Duration Fixed Income Fund (continued)

Face Amount/Units†			Security	Value
CORPORATE BONDS & NOTES – (continued)
Industrial – (continued)
	$	230,000	Canadian Pacific Railway Co., Company Guaranteed Notes, 1.350% due 12/2/24		$	218,011
		225,000	Caterpillar Financial Services Corp., Senior Unsecured Notes, 4.350% due 5/15/26			221,454
		649,000	FXI Holdings Inc., Senior Secured Notes, 12.250% due 11/15/26(b)			582,477
		10,035,000	General Electric Co., Junior Subordinated Notes, 8.882% (3-Month USD-LIBOR + 3.330%)(a)(f)			10,035,000
		2,958,000	Hillenbrand Inc., Company Guaranteed Notes, 5.750% due 6/15/25			2,939,512
		9,643,000	INNOVATE Corp., Senior Secured Notes, 8.500% due 2/1/26(b)			7,376,895
		215,000	John Deere Capital Corp., Senior Unsecured Notes, 4.750% due 1/20/28			214,041
		90,323	Lima Metro Line 2 Finance Ltd., Senior Secured Notes, 5.875% due 7/5/34			88,596
		168,118	MV24 Capital BV, Senior Secured Notes, 6.748% due 6/1/34			151,523
		200,000	Parker-Hannifin Corp., Senior Unsecured Notes, 3.650% due 6/15/24			196,544
		225,000	Penske Truck Leasing Co. LP/PTL Finance Corp., Senior Unsecured Notes, 4.400% due 7/1/27(b)			212,498
		225,000	Republic Services Inc., Senior Unsecured Notes, 2.500% due 8/15/24			218,120
		220,000	RTX Corp., Senior Unsecured Notes, 5.000% due 2/27/26			219,049
		215,000	Ryder System Inc., Senior Unsecured Notes, 5.250% due 6/1/28			212,300
		2,621,000	TransDigm Inc., Company Guaranteed Notes, 6.375% due 6/15/26			2,620,705
		4,218,000	TransDigm UK Holdings PLC, Company Guaranteed Notes, 6.875% due 5/15/26			4,289,685
			Total Industrial			40,726,568
Technology – 1.9%
		1,125,000EUR	Azerion Holding BV, Senior Secured Notes, 7.250% due 4/28/24			1,201,540
		25,000	Broadcom Corp./Broadcom Cayman Finance Ltd., Company Guaranteed Notes, 3.875% due 1/15/27			23,754
		205,000	Broadcom Inc., Company Guaranteed Notes, 3.150% due 11/15/25			195,104
		4,296,000EUR	Fiven ASA, Senior Secured Notes, 10.401% (3-Month EURIBOR + 6.850%) due 6/21/24(a)			4,716,380
		13,750,000SEK	Impala Bondco PLC, Senior Secured Notes, 12.868% (3-Month SEK-STIBOR + 9.000%) due 10/20/24(a)			1,105,220
		205,000	Microchip Technology Inc., Senior Unsecured Notes, 0.972% due 2/15/24			200,282
		225,000	NXP BV/NXP Funding LLC/NXP USA Inc., Company Guaranteed Notes, 4.400% due 6/1/27			216,374
		205,000	Oracle Corp., Senior Unsecured Notes, 5.800% due 11/10/25			206,993
			Total Technology			7,865,647
Utilities – 0.5%
		200,000	AES Andes SA, Junior Subordinated Notes, 7.125% (5-Year USD Swap Rate + 4.644%) due 3/26/79(a)(b)			191,272
		300,000	Chile Electricity PEC SpA, Senior Secured Notes, zero coupon, due 1/25/28			233,466
		104,300	Empresa Electrica Angamos SA, Senior Secured Notes, 4.875% due 5/25/29			94,000

See Notes to Financial Statements.

142

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Low Duration Fixed Income Fund (continued)

Face Amount/Units†			Security	Value
CORPORATE BONDS & NOTES – (continued)
Utilities – (continued)
	$	215,000	Entergy Louisiana LLC, Collateral Trust, 0.950% due 10/1/24		$	204,051
		200,000	Inkia Energy Ltd., Senior Unsecured Notes, 5.875% due 11/9/27			191,500
		200,000	Mercury Chile Holdco LLC, Senior Secured Notes, 6.500% due 1/24/27(b)			184,962
		131,562	Mexico Generadora de Energia S de rl, Senior Secured Notes, 5.500% due 12/6/32			126,228
		200,000	Minejesa Capital BV, Senior Secured Notes, 4.625% due 8/10/30			180,492
			Pacific Gas & Electric Co., 1st Mortgage Notes:
		80,000	3.250% due 2/16/24			78,987
		150,000	4.950% due 6/8/25			146,714
		200,000	Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, Senior Unsecured Notes, 4.125% due 5/15/27			189,576
		215,000	Southern California Edison Co., 1st Mortgage Notes, 4.900% due 6/1/26			213,663
			Total Utilities			2,034,911
			TOTAL CORPORATE BONDS & NOTES (Cost – $210,512,916)			192,529,955
ASSET-BACKED SECURITIES – 10.4%
		114,563	AccessLex Institute, Series 2007-A, Class A3, 5.953% (3-Month USD-LIBOR + 0.300%) due 5/25/36(a)			111,305
		989,306	Accredited Mortgage Loan Trust, Series 2005-1, Class M4, 5.460% (1-Month TSFR + 1.269%) due 4/25/35(a)			983,917
			ACHV ABS Trust:
		102,044	Series 2023-1PL, Class A, 6.420% due 3/18/30(b)			102,065
		407,141	Series 2023-3PL, Class A, 6.600% due 8/19/30(b)			407,128
		211,052	ACM Auto Trust, Series 2023-1A, Class A, 6.610% due 1/22/30(b)			210,735
			ACREC Ltd.:
		203,426	Series 2021-FL1, Class A, 6.576% (1-Month TSFR + 1.264%) due 10/16/36(a)(b)			199,231
		350,000	Series 2021-FL1, Class AS, 6.926% (1-Month TSFR + 1.614%) due 10/16/36(a)(b)			336,221
			Affirm Asset Securitization Trust:
		9,446	Series 2020-Z2, Class A, 1.900% due 1/15/25(b)			9,362
		42,101	Series 2021-Z1, Class A, 1.070% due 8/15/25(b)			41,327
		1,000,000	Allegro CLO X Ltd., Series 2019-1A, Class AR, 6.738% (3-Month TSFR + 1.412%) due 7/20/32(a)(b)			990,564
		35,356	Aqua Finance Trust, Series 2020-AA, Class A, 1.900% due 7/17/46(b)			32,740
		225,000	Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL2, Class A, 6.525% (1-Month TSFR + 1.214%) due 5/15/36(a)(b)			221,203
		500,000	Bain Capital Credit CLO, Series 2019-1A, Class AR, 6.712% (3-Month TSFR + 1.392%) due 4/19/34(a)(b)			496,564
		500,000	Bain Capital Credit CLO Ltd., Series 2021-1A, Class A, 6.632% (3-Month TSFR + 1.322%) due 4/18/34(a)(b)			491,712

See Notes to Financial Statements.

143

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Low Duration Fixed Income Fund (continued)

Face Amount/Units†			Security	Value
ASSET-BACKED SECURITIES – (continued)
	$	250,000	BDS Ltd., Series 2021-FL10, Class A, 6.776% (1-Month TSFR + 1.464%) due 12/16/36(a)(b)		$	247,032
		404,000	BRSP Ltd., Series 2021-FL1, Class A, 6.578% (1-Month TSFR + 1.264%) due 8/19/38(a)(b)			392,335
			BSPRT Issuer Ltd.:
		193,000	Series 2021-FL6, Class A, 6.525% (1-Month TSFR + 1.214%) due 3/15/36(a)(b)			189,504
		209,000	Series 2021-FL7, Class A, 6.745% (1-Month TSFR + 1.434%) due 12/15/38(a)(b)			206,259
		376,042	CAL Funding IV Ltd., Series 2020-1A, Class A, 2.220% due 9/25/45(b)			329,807
			Carlyle US CLO Ltd.:
		1,000,000	Series 2019-4A, Class A11R, 6.628% (3-Month TSFR + 1.320%) due 4/15/35(a)(b)			987,078
		1,000,000	Series 2021-7A, Class A1, 6.730% (3-Month TSFR + 1.422%) due 10/15/35(a)(b)			993,054
			CHCP Ltd.:
		228,715	Series 2021-FL1, Class A, 6.477% (1-Month TSFR + 1.164%) due 2/15/38(a)(b)			225,397
		100,000	Series 2021-FL1, Class AS, 6.727% (1-Month TSFR + 1.414%) due 2/15/38(a)(b)			95,400
		177,000	CLNC Ltd., Series 2019-FL1, Class AS, 6.978% (1-Month TSFR + 1.664%) due 8/20/35(a)(b)			173,008
		157,294	Commonbond Student Loan Trust, Series 2020-AGS, Class A, 1.980% due 8/25/50(b)			133,895
		500,000	DataBank Issuer, Series 2023-1A, Class A2, 5.116% due 2/25/53(b)			459,100
		500,000	Drive Auto Receivables Trust, Series 2021-3, Class C, 1.470% due 1/15/27			482,891
		174,993	Exeter Automobile Receivables Trust, Series 2021-1A, Class C, 0.740% due 1/15/26			173,648
		1,782,587	First Franklin Mortgage Loan Trust, Series 2003-FF2, Class M1, 7.233% (1-Month TSFR + 1.914%) due 7/25/33(a)			1,733,841
		1,000,000	Franklin Park Place CLO I LLC, Series 2022-1A, Class A, 6.711% (3-Month TSFR + 1.400%) due 4/14/35(a)(b)			990,985
		209,000	FS Rialto, Series 2021-FL3, Class A, 6.677% (1-Month TSFR + 1.364%) due 11/16/36(a)(b)			204,167
		196,684	FS RIALTO, Series 2021-FL2, Class A, 6.647% (1-Month TSFR + 1.334%) due 5/16/38(a)(b)			191,667
		487,148	Galaxy XXVII CLO Ltd., Series 2018-27A, Class A, 6.653% (3-Month TSFR + 1.282%) due 5/16/31(a)(b)			484,711
		484,377	GLS Auto Receivables Issuer Trust, Series 2021-2A, Class C, 1.080% due 6/15/26(b)			474,001
		240,000	GPMT Ltd., Series 2021-FL4, Class A, 6.779% (1-Month TSFR + 1.464%) due 12/15/36(a)(b)			232,060
		504,000	Greystone CRE Notes Ltd., Series 2021-FL3, Class A, 6.445% (1-Month TSFR + 1.134%) due 7/15/39(a)(b)			493,226

See Notes to Financial Statements.

144

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Low Duration Fixed Income Fund (continued)

Face Amount/Units†			Security	Value
ASSET-BACKED SECURITIES – (continued)
	$	1,000,000	Greywolf CLO VII Ltd., Series 2018-2A, Class A1, 6.766% (3-Month TSFR + 1.440%) due 10/20/31(a)(b)		$	997,365
		1,000,000	Gulf Stream Meridian 3 Ltd., Series 2021-IIIA, Class A1, 6.890% (3-Month TSFR + 1.582%) due 4/15/34(a)(b)			997,515
		500,000	Halseypoint CLO 5 Ltd., Series 2021-5A, Class A1A, 6.841% (3-Month TSFR + 1.472%) due 1/30/35(a)(b)			498,001
		498,256	Hayfin US XII Ltd., Series 2018-8A, Class A, 6.708% (3-Month TSFR + 1.382%) due 4/20/31(a)(b)			496,803
		500,000	Hertz Vehicle Financing LLC, Series 2021-1A, Class B, 1.560% due 12/26/25(b)			472,008
		126,416	HGI CRE CLO Ltd., Series 2021-FL1, Class A, 6.477% (1-Month TSFR + 1.164%) due 6/16/36(a)(b)			123,940
		176,187	Hilton Grand Vacations Trust, Series 2020-AA, Class A, 2.740% due 2/25/39(b)			165,388
		3,068,000	HTS Fund I LLC, Series 2021-1, Class A, 1.411% due 8/25/36(b)			2,677,385
		1,000,000	Jamestown CLO XVI Ltd., Series 2021-16A, Class A, 6.813% (3-Month TSFR + 1.462%) due 7/25/34(a)(b)			989,699
		330,000	KREF Ltd., Series 2021-FL2, Class A, 6.498% (1-Month TSFR + 1.184%) due 2/15/39(a)(b)			325,067
		14,221	Laurel Road Prime Student Loan Trust, Series 2019-A, Class A1FX, 2.340% due 10/25/48(b)			13,728
			LCCM Trust:
		283,967	Series 2021-FL2, Class A, 6.625% (1-Month TSFR + 1.314%) due 12/13/38(a)(b)			277,036
		310,000	Series 2021-FL3, Class A, 6.875% (1-Month TSFR + 1.564%) due 11/15/38(a)(b)			306,594
		500,000	Lendbuzz Securitization Trust, Series 2023-2A, Class A2, 7.090% due 10/16/28(b)			499,261
		42,212	LMREC Inc., Series 2019-CRE3, Class A, 6.830% (1-Month TSFR + 1.514%) due 12/22/35(a)(b)			42,126
			LoanCore Issuer Ltd.:
		410,000	Series 2021-CRE5, Class A, 6.725% (1-Month USD-LIBOR + 1.300%) due 7/15/36(a)(b)			398,199
		410,000	Series 2021-CRE6, Class A, 6.725% (1-Month TSFR + 1.414%) due 11/15/38(a)(b)			395,138
		1,000,000	Marble Point CLO XXI Ltd., Series 2021-3A, Class A1, 6.810% (3-Month TSFR + 1.502%) due 10/17/34(a)(b)			992,279
		500,000	Marble Point CLO XXII Ltd., Series 2021-2A, Class A, 6.813% (3-Month TSFR + 1.462%) due 7/25/34(a)(b)			491,892
		48,210	Marlette Funding Trust, Series 2019-4A, Class C, 3.760% due 12/17/29(b)			47,732
		481,250	ME Funding LLC, Series 2019-1, Class A2, 6.448% due 7/30/49(b)			469,704
			MF1 Ltd.:
		198,299	Series 2021-FL6, Class A, 6.526% (1-Month TSFR + 1.214%) due 7/16/36(a)(b)			194,333

See Notes to Financial Statements.

145

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Low Duration Fixed Income Fund (continued)

Face Amount/Units†			Security	Value
ASSET-BACKED SECURITIES – (continued)
	$	208,000	Series 2021-FL7, Class A, 6.506% (1-Month TSFR + 1.194%) due 10/16/36(a)(b)		$	203,840
		551,645	MMAF Equipment Finance LLC, Series 2022-B, Class A2, 5.570% due 9/9/25(b)			549,005
		70,397	Navient Private Education Refi Loan Trust, Series 2020-GA, Class A, 1.170% due 9/16/69(b)			62,584
		929,932	Northwoods Capital XVI Ltd., Series 2017-16A, Class A, 6.896% (3-Month TSFR + 1.532%) due 11/15/30(a)(b)			930,250
		982,916	Ocean Trails CLO V, Series 2014-5A, Class ARR, 6.843% (3-Month TSFR + 1.542%) due 10/13/31(a)(b)			981,184
		248,423	OCP CLO Ltd., Series 2014-5A, Class A1R, 6.692% (3-Month TSFR + 1.342%) due 4/26/31(a)(b)			247,719
			Pagaya AI Debt Selection Trust:
		485,451	Series 2021-1, Class B, 2.130% due 11/15/27(b)			479,686
		649,965	Series 2021-3, Class B, 1.740% due 5/15/29(b)			632,375
		90,562	Series 2021-5, Class A, 1.530% due 8/15/29(b)			89,341
			Pagaya AI Debt Trust:
		93,625	Series 2022-1, Class A, 2.030% due 10/15/29(b)			91,534
		160,509	Series 2022-3, Class A, 6.060% due 3/15/30(b)			159,840
		450,795	Series 2023-3, Class A, 7.600% due 12/16/30(b)			452,595
		393,603	PRET LLC, Series 2021-NPL3, Class A1, step bond to yield, 1.868% due 7/25/51(b)			367,588
		1,000,000	Sound Point CLO VI-R Ltd., Series 2014-2RA, Class A, 6.838% (3-Month TSFR + 1.512%) due 10/20/31(a)(b)			993,183
		471,595	Sound Point CLO XVIII Ltd., Series 2017-4A, Class A1, 6.708% (3-Month TSFR + 1.382%) due 1/21/31(a)(b)			466,142
		1,000,000	Steele Creek CLO Ltd., Series 2018-2A, Class A, 6.841% (3-Month TSFR + 1.462%) due 8/18/31(a)(b)			995,075
		200,000	STWD Ltd., Series 2021-FL2, Class A, 6.626% (1-Month TSFR + 1.314%) due 4/18/38(a)(b)			195,156
		250,000	Tesla Auto Lease Trust, Series 2021-B, Class B, 0.910% due 9/22/25(b)			239,210
		392,883	Theorem Funding Trust, Series 2023-1A, Class A, 7.580% due 4/15/29(b)			394,352
			THL Credit Wind River CLO Ltd.:
		2,000,000	Series 2017-1A, Class ARR, 6.632% (3-Month TSFR + 1.322%) due 4/18/36(a)(b)			1,971,060
		1,300,000	Series 2019-1A, Class AR, 6.748% (3-Month TSFR + 1.422%) due 7/20/34(a)(b)			1,287,865
		154,338	TRTX Issuer Ltd., Series 2021-FL4, Class A, 6.628% (1-Month TSFR + 1.314%) due 3/15/38(a)(b)			148,602
		14,108	Upstart Securitization Trust, Series 2021-3, Class A, 0.830% due 7/20/31(b)			14,039
		430,249	VCAT LLC, Series 2021-NPL4, Class A1, step bond to yield, 1.868% due 8/25/51(b)			402,281

See Notes to Financial Statements.

146

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Low Duration Fixed Income Fund (continued)

Face Amount/Units†			Security	Value
ASSET-BACKED SECURITIES – (continued)
	$	600,000	Vibrant CLO IV Ltd., Series 2016-4A, Class A1RR, 6.708% (3-Month TSFR + 1.382%) due 7/20/32(a)(b)		$	587,724
		420,581	Vibrant CLO VIII Ltd., Series 2018-8A, Class A1A, 6.728% (3-Month TSFR + 1.402%) due 1/20/31(a)(b)			418,188
		150,000	VMC Finance LLC, Series 2022-FL5, Class A, 7.130% (SOFR30A + 1.900%) due 2/18/39(a)(b)			146,516
		404,546	VOLT XCII LLC, Series 2021-NPL1, Class A1, step bond to yield, 1.893% due 2/27/51(b)			380,761
		273,306	VOLT XCIV LLC, Series 2021-NPL3, Class A1, step bond to yield, 2.240% due 2/27/51(b)			257,986
		569,720	VOLT XCIX LLC, Series 2021-NPL8, Class A1, step bond to yield, 2.116% due 4/25/51(b)			530,938
		1,000,000	Wellfleet CLO Ltd., Series 2020-2A, Class AR, 6.790% (3-Month TSFR + 1.482%) due 7/15/34(a)(b)			990,031
		500,000	Wellfleet CLO X Ltd., Series 2019-XA, Class A1R, 6.758% (3-Month TSFR + 1.432%) due 7/20/32(a)(b)			493,621
			TOTAL ASSET-BACKED SECURITIES (Cost – $43,020,837)			42,558,604
SENIOR LOANS(a) – 9.4%
		7,405,811	Cengage Learning Inc., 10.323% (3-Month USD-LIBOR + 4.750%) due 7/14/26			7,378,854
		3,217,573	Diebold Nixdorf Inc., 12.816% (3-Month USD-LIBOR + 7.500%) due 8/11/28			3,193,441
		4,841,765	First Brands Group LLC, 10.881% (6-Month USD-LIBOR + 5.000%) due 3/30/27			4,769,138
		1,692,267	Fogo de Chao Inc., 9.696% (1-Month USD-LIBOR + 4.250%) due 4/7/25			1,689,542
		2,678,311	Getty Images Inc., 9.842% (3-Month USD-LIBOR + 4.500%) due 2/19/26			2,678,311
			K&N Parent Inc.:
		2,924,536	13.217% due 2/3/27(e)(d)			2,983,027
		3,244,649	10.467% (3-Month USD-LIBOR + 5.250%) due 8/16/27			2,433,487
		2,695,935	Lealand Finance Co. BV, 8.446% (1-Month USD-LIBOR + 3.000%) due 6/28/24			1,887,155
		3,219,856	Lions Gate Capital Holdings LLC, 7.681% (1-Month USD-LIBOR + 2.250%) due 3/24/25			3,210,808
		8,190,230	QuarterNorth Energy Holding Inc., 13.446% (1-Month USD-LIBOR + 8.000%) due 8/27/26			8,135,601
			TOTAL SENIOR LOANS (Cost – $42,403,859)			38,359,364
COLLATERALIZED MORTGAGE OBLIGATIONS – 7.1%
		192,367	Angel Oak Mortgage Trust, Series 2020-6, Class A1, 1.261% due 5/25/65(a)(b)			170,973
		183,000	Arbor Multifamily Mortgage Securities Trust, Series 2021-MF2, Class A2, 2.023% due 6/15/54(b)			165,940
			BANK:
		1,261,078	Series 2017-BNK4, Class XA, 1.499% due 5/15/50(a)(g)			46,659

See Notes to Financial Statements.

147

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Low Duration Fixed Income Fund (continued)

Face Amount/Units†			Security	Value
COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)
	$	1,652,692	Series 2017-BNK6, Class XA, 0.906% due 7/15/60(a)(g)		$	36,872
		200,000	BBCMS Mortgage Trust, Series 2019-BWAY, Class A, 6.380% (1-Month TSFR + 1.070%) due 11/15/34(a)(b)			160,899
			Benchmark Mortgage Trust:
		9,874,110	Series 2018-B4, Class XA, 0.607% due 7/15/51(a)(g)			156,159
		3,662,077	Series 2020-B16, Class XA, 1.043% due 2/15/53(a)(g)			161,190
		178,604	BHP Trust, Series 2019-BXHP, Class A, 6.333% (1-Month TSFR + 1.022%) due 8/15/36(a)(b)			177,304
		243,140	BMO Mortgage Trust, Series 2023-C5, Class A1, 5.740% due 6/15/56			240,824
		208,000	BPR Trust, Series 2021-TY, Class A, 6.475% (1-Month TSFR + 1.164%) due 9/15/38(a)(b)			200,172
			BRAVO Residential Funding Trust:
		572,856	Series 2021-A, Class A1, step bond to yield, 1.991% due 10/25/59(b)			550,040
		852,386	Series 2022-RPL1, Class A1, 2.750% due 9/25/61(a)(b)			739,133
		600,000	Series 2023-NQM5, Class A1, step bond to yield, 6.505% due 6/25/63(b)			600,231
		174,378	BSREP Commercial Mortgage Trust, Series 2021-DC, Class A, 6.375% (1-Month TSFR + 1.064%) due 8/15/38(a)(b)			162,335
		247,216	BX 2022-MVRK Mortgage Trust, Series 2022-MVRK, Class A, 6.777% (1-Month TSFR + 1.467%) due 3/15/39(a)(b)			243,030
			BX Commercial Mortgage Trust:
		155,707	Series 2021-21M, Class A, 6.154% (1-Month TSFR + 0.844%) due 10/15/36(a)(b)			152,350
		100,000	Series 2021-CIP, Class A, 6.345% (1-Month TSFR + 1.035%) due 12/15/38(a)(b)			97,930
		208,000	Series 2021-VOLT, Class B, 6.375% (1-Month TSFR + 1.064%) due 9/15/36(a)(b)			200,691
		2,747,000	Series 2021-VOLT, Class C, 6.525% (1-Month TSFR + 1.214%) due 9/15/36(a)(b)			2,626,343
		163,423	Series 2021-XL2, Class B, 6.422% (1-Month TSFR + 1.112%) due 10/15/38(a)(b)			159,117
		162,014	Series 2022-LP2, Class A, 6.323% (1-Month TSFR + 1.013%) due 2/15/39(a)(b)			157,543
			BX Trust:
		80,656	Series 2019-CALM, Class A, 6.300% (1-Month TSFR + 0.990%) due 11/15/32(a)(b)			80,172
		183,000	Series 2021-VIEW, Class A, 6.704% (1-Month TSFR + 1.394%) due 6/15/36(a)(b)			173,974
		1,330,163	CD Mortgage Trust, Series 2017-CD4, Class XA, 1.379% due 5/10/50(a)(g)			44,907
		287,000	CFCRE Commercial Mortgage Trust, Series 2017-C8, Class XB, 1.061% due 6/15/50(a)(g)			8,060
			Citigroup Commercial Mortgage Trust:
		244,000	Series 2015-GC27, Class A5, 3.137% due 2/10/48			234,412
		400,000	Series 2016-P3, Class A4, 3.329% due 4/15/49			373,514

See Notes to Financial Statements.

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Low Duration Fixed Income Fund (continued)

	Face Amount/Units†			Security	Value
	COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)
		$	386,000	Series 2019-PRM, Class D, 4.350% due 5/10/36(b)		$	383,795
			7,829	COLT Mortgage Loan Trust, Series 2020-2, Class A1, 1.853% due 3/25/65(a)(b)			7,772
			124,384	COLT Mortgage Pass-Through Certificates, Series 2021-1R, Class A1, 0.857% due 5/25/65(a)(b)			104,113
			706,844	COLT Trust, Series 2021-RPL1, Class A1, 1.665% due 9/25/61(a)(b)			610,905
				Commercial Mortgage Trust:
			95,662	Series 2013-LC13, Class AM, 4.557% due 8/10/46(a)(b)			95,423
			250,000	Series 2014-LC15, Class A4, 4.006% due 4/10/47			247,484
			227,000	Series 2018-HCLV, Class A, 6.456% (1-Month TSFR + 1.146%) due 9/15/33(a)(b)			208,175
			420,025	Credit Suisse Commercial Mortgage Capital Trust, Series 2020-RPL3, Class A1, 2.691% due 3/25/60(a)(b)			416,814
				CSAIL Commercial Mortgage Trust:
			577,690	Series 2017-C8, Class XA, 1.238% due 6/15/50(a)(g)			18,210
			4,066,032	Series 2017-CX10, Class XA, 0.887% due 11/15/50(a)(g)			93,662
			3,083,249	Series 2018-CX12, Class XA, 0.689% due 8/15/51(a)(g)			68,848
			200,000	DBJPM Mortgage Trust, Series 2016-C3, Class A5, 2.890% due 8/10/49			182,903
			1,179,649	Ellington Financial Mortgage Trust, Series 2022-3, Class A1, step bond to yield, 5.000% due 8/25/67(b)			1,139,623
			150,000	ELP Commercial Mortgage Trust, Series 2021-ELP, Class A, 6.126% (1-Month TSFR + 0.815%) due 11/15/38(a)(b)			146,800
			208,996	EQUS Mortgage Trust, Series 2021-EQAZ, Class A, 6.180% (1-Month TSFR + 0.869%) due 10/15/38(a)(b)			204,272
			1,379,682	Federal Home Loan Mortgage Corp. (FHLMC), REMICS, Series 4987, Class BF, 5.802% (SOFR30A + 0.514%) due 6/25/50(a)			1,326,363
			244,531	Federal National Mortgage Association (FNMA) REMICS, Series 2019-43, Class FD, 5.802% (SOFR30A + 0.514%) due 8/25/49(a)			234,975
				Federal National Mortgage Association (FNMA), Aces:
			1,140,367	Series 2020-M49, Class 1A1, 1.297% due 11/25/30(a)			991,686
			170,987	Series 2021-M7, Class A1, 1.783% due 3/25/31(a)			151,022
			915,803	GCAT Trust, Series 2022-NQM4, Class A1, step bond to yield, 5.269% due 8/25/67(b)			896,176
			220,339	GPMT Ltd., Series 2021-FL3, Class A, 6.361% due 7/16/35(a)(b)			217,320
��			184,000	Great Wolf Trust, Series 2019-WOLF, Class A, 6.458% (1-Month TSFR + 1.148%) due 12/15/36(a)(b)			183,216
			250,000	GS Mortgage Securities Corp. II, Series 2023-SHIP, Class A, 4.466% due 9/10/38(a)(b)			240,464
			208,000	GS Mortgage Securities Corp. Trust, Series 2021-IP, Class A, 6.375% (1-Month TSFR + 1.064%) due 10/15/36(a)(b)			197,825
				GS Mortgage Securities Trust:
			3,642,696	Series 2016-GS4, Class XA, 0.689% due 11/10/49(a)(g)			51,923
			1,692,027	Series 2017-GS6, Class XA, 1.156% due 5/10/50(a)(g)			50,983
			3,249,846	Series 2017-GS8, Class XA, 1.083% due 11/10/50(a)(g)			96,665

See Notes to Financial Statements.

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Low Duration Fixed Income Fund (continued)

Face Amount/Units†			Security	Value
COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)
	$	250,000	IMT Trust, Series 2017-APTS, Class AFX, 3.478% due 6/15/34(b)		$	242,791
			JP Morgan Chase Commercial Mortgage Securities Trust:
		1,269,546	Series 2014-C20, Class XA, 1.293% due 7/15/47(a)(g)			1,996
		285,000	Series 2016-JP2, Class A4, 2.822% due 8/15/49			260,909
		4,075,000	Series 2020-MKST, Class XCP, zero coupon, due 12/15/36(a)(b)(d)(g)			41
			JPMBB Commercial Mortgage Securities Trust:
		229,000	Series 2014-C18, Class A5, 4.079% due 2/15/47			226,056
		334,000	Series 2014-C21, Class A5, 3.775% due 8/15/47			326,229
		801,546	Series 2015-C32, Class XA, 1.256% due 11/15/48(a)(g)			10,220
		200,000	Series 2016-C1, Class A5, 3.576% due 3/17/49			188,063
			Legacy Mortgage Asset Trust:
		231,546	Series 2020-GS4, Class A1, step bond to yield, 6.250% due 2/25/60(b)			231,422
		376,358	Series 2021-GS4, Class A1, step bond to yield, 1.650% due 11/25/60(b)			345,245
		116,783	Series 2021-SL1, Class A, 1.991% due 9/25/60(a)(b)			115,557
		23,599	LoanCore Issuer Ltd., Series 2019-CRE3, Class AS, 6.795% (1-Month TSFR + 1.484%) due 4/15/34(a)(b)			23,284
		99,522	Med Trust, Series 2021-MDLN, Class A, 6.374% (1-Month TSFR + 1.064%) due 11/15/38(a)(b)			97,025
		700,000	MFA Trust, Series 2023-NQM3, Class A1, 6.617% due 7/25/68(b)			699,996
		203,077	MHP, Series 2022-MHIL, Class A, 6.125% (1-Month TSFR + 0.815%) due 1/15/27(a)(b)			198,364
			Morgan Stanley Bank of America Merrill Lynch Trust:
		244,000	Series 2014-C16, Class AS, 4.094% due 6/15/47			232,591
		250,000	Series 2014-C17, Class A5, 3.741% due 8/15/47			244,232
			Morgan Stanley Capital I Trust:
		1,167,457	Series 2016-UB11, Class XA, 1.574% due 8/15/49(a)(g)			38,512
		3,469,950	Series 2016-UB12, Class XA, 0.787% due 12/15/49(a)(g)			58,940
		853,759	Series 2017-H1, Class XA, 1.479% due 6/15/50(a)(g)			26,344
		184,000	Series 2021-L6, Class A2, 2.126% due 6/15/54(a)			165,279
		209,308	MSC Trust, Series 2021-ILP, Class A, 6.203% (1-Month TSFR + 0.892%) due 11/15/23(a)(b)			204,580
			New Residential Mortgage Loan Trust:
		1,122,893	Series 2019-RPL3, Class A1, 2.750% due 7/25/59(a)(b)			1,041,579
		146,724	Series 2020-NQM1, Class A2, 2.718% due 1/26/60(a)(b)			133,125
		341,236	NYMT Loan Trust, Series 2020-SP2, Class A1, 2.944% due 10/25/60(a)(b)			338,535
			OBX Trust:
		640,942	Series 2022-NQM1, Class A1, 2.305% due 11/25/61(a)(b)			539,468
		929,726	Series 2023-NQM1, Class A1, 6.120% due 11/25/62(a)(b)			925,585
		119,127	PFP Ltd., Series 2021-8, Class A, 6.427% (1-Month TSFR + 1.114%) due 8/9/37(a)(b)			116,914
		458,713	PRPM LLC, Series 2021-4, Class A1, step bond to yield, 1.867% due 4/25/26(b)			425,719

See Notes to Financial Statements.

150

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Low Duration Fixed Income Fund (continued)

Face Amount/Units†			Security	Value
COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)
	$	200,000	RIAL Issuer Ltd., Series 2022-FL8, Class A, 7.563% (1-Month TSFR + 2.250%) due 1/19/37(a)(b)		$	195,875
		176,268	SMR Mortgage Trust, Series 2022-IND, Class A, 6.960% (1-Month TSFR + 1.650%) due 2/15/39(a)(b)			168,318
		1,025,000	SMRT, Series 2022-MINI, Class B, 6.661% (1-Month TSFR + 1.350%) due 1/15/39(a)(b)			994,141
		210,000	SREIT Trust, Series 2021-MFP, Class A, 6.156% (1-Month TSFR + 0.845%) due 11/15/38(a)(b)			205,784
		830,598	UBS Commercial Mortgage Trust, Series 2017-C1, Class XA, 1.685% due 6/15/50(a)(g)			35,489
			Velocity Commercial Capital Loan Trust:
		1,001,707	Series 2021-2, Class A, 1.520% due 8/25/51(a)(b)			823,123
		378,661	Series 2021-2, Class M1, 1.820% due 8/25/51(a)(b)			302,347
			Verus Securitization Trust:
		317,581	Series 2019-INV2, Class A3, 4.219% due 7/25/59(a)(b)			306,369
		26,652	Series 2020-2, Class A1, 2.226% due 5/25/60(a)(b)			25,977
		535,310	Series 2021-7, Class A1, 1.829% due 10/25/66(a)(b)			453,800
		202,952	Series 2021-R1, Class A2, 1.057% due 10/25/63(a)(b)			181,398
		548,602	Series 2023-1, Class A1, step bond to yield, 5.850% due 12/25/67(b)			542,278
		92,906	Vista Point Securitization Trust, Series 2020-2, Class A1, 1.475% due 4/25/65(a)(b)			84,027
			Wells Fargo Commercial Mortgage Trust:
		2,207,778	Series 2015-LC22, Class XA, 0.897% due 9/15/58(a)(g)			26,362
		4,396,894	Series 2015-NXS2, Class XA, 0.736% due 7/15/58(a)(g)			36,937
		185,000	Series 2021-C60, Class A2, 2.042% due 8/15/54			166,711
		82,105	Series 2021-SAVE, Class A, 6.575% (1-Month TSFR + 1.264%) due 2/15/40(a)(b)			78,290
		250,000	WFRBS Commercial Mortgage Trust, Series 2014-C22, Class A5, 3.752% due 9/15/57			241,785
			TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost – $32,563,889)			29,015,803
U.S. GOVERNMENT OBLIGATIONS – 5.5%
			U.S. Treasury Notes:
		1,520,000	4.250% due 12/31/24			1,501,416
		760,000	4.125% due 1/31/25			749,401
		960,000	3.875% due 3/31/25			942,637
		2,640,000	3.875% due 4/30/25			2,592,047
		4,010,000	4.250% due 5/31/25			3,960,971
		760,000	4.625% due 6/30/25			755,784
		7,000,000	3.125% due 8/15/25			6,772,227
		1,320,000	3.875% due 1/15/26			1,295,044
		2,310,000	3.625% due 5/15/26			2,252,972

See Notes to Financial Statements.

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Low Duration Fixed Income Fund (continued)

Face Amount/Units†			Security	Value
U.S. GOVERNMENT OBLIGATIONS – (continued)
	$	1,620,000	4.125% due 6/15/26		$	1,601,269
			TOTAL U.S. GOVERNMENT OBLIGATIONS (Cost – $22,560,383)			22,423,768
MORTGAGE-BACKED SECURITIES – 0.5%
FHLMC – 0.1%
			Freddie Mac Pool:
		183,224	3.000% due 5/1/42			161,241
		208,831	3.500% due 10/1/42			189,793
			TOTAL FHLMC			351,034
FNMA – 0.4%
			Federal National Mortgage Association (FNMA) Pool:
		206,046	3.000% due 5/1/42			181,325
		1,400,000	4.810% due 9/1/29			1,379,475
			TOTAL FNMA			1,560,800
			TOTAL MORTGAGE-BACKED SECURITIES (Cost – $1,972,790)			1,911,834
SOVEREIGN BONDS – 0.2%
Colombia – 0.0%
		200,000	Colombia Government International Bond, 4.500% due 1/28/26			192,182
Dominican Republic – 0.0%
		100,000	Dominican Republic International Bond, 5.500% due 1/27/25			98,888
Peru – 0.1%
		200,000	Corp. Financiera de Desarrollo SA, 5.250% due 7/15/29(a)			194,752
South Africa – 0.1%
		200,000	Republic of South Africa Government International Bond, 4.875% due 4/14/26			192,428
			TOTAL SOVEREIGN BONDS (Cost – $715,742)			678,250

Shares/Units		Security	Value
EXCHANGE TRADED FUND (ETF) – 10.4%
	912,239	iShares Core 1-5 Year USD Bond (Cost – $42,102,982)		42,638,051
COMMON STOCKS – 0.1%
DIVERSIFIED – 0.0%
Holding Companies-Diversified – 0.0%
	8,000	AxonPrime Infrastructure Acquisition Corp.*(e)		—
	25,927	Berenson Acquisition Corp. I*(e)		—
		Total Holding Companies-Diversified		—
		TOTAL DIVERSIFIED		—

See Notes to Financial Statements.

152

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Low Duration Fixed Income Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
FINANCIAL – 0.1%
Financial Services – 0.1%
	16,305	Alpha Partners Technology*(e)(d)		$	850
	273,338	K&N Holdco LLC*(e)(d)			410,007
	12,300	Revelstone Capital Acquisition Corp.*(e)(d)			1,314
		Total Financial Services			412,171
		TOTAL FINANCIAL			412,171
		TOTAL COMMON STOCKS (Cost – $273,524)			412,171
WARRANTS – 0.0%
BASIC MATERIALS – 0.0%
Iron/Steel – 0.0%
	26,954,480	Tacora Resources Inc.*(e)			—
DIVERSIFIED – 0.0%
Holding Companies-Diversified – 0.0%
	75,173	Financials Acquisition Corp.*(d)			2,857
	131,256	Hambro Perks Acquisition Co., Ltd.*(e)(d)			—
	72,418	Hiro Metaverse Acquisitions I SA*(d)			14,219
	43,327	Leafly Holdings Inc.*(d)			1,776
		Total Holding Companies-Diversified			18,852
		TOTAL DIVERSIFIED			18,852
HEALTHCARE – 0.0%
Healthcare Equipment & Supplies – 0.0%
	61,806	ProSomnus Inc.*(d)			1,928
		TOTAL WARRANTS (Cost – $1,976)			20,780
		TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS (Cost – $396,128,898)			370,548,580

See Notes to Financial Statements.

153

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Low Duration Fixed Income Fund (continued)

FaceAmount†				Security	Value
SHORT-TERM INVESTMENTS – 9.3%
COMMERCIAL PAPERS – 4.0%
	$	3,674,000		Arrow Electronics Inc., 5.823% due 9/12/23(h)		$	3,666,907
		3,274,000		Canadian Natural Resources Ltd., 6.170% due 9/25/23(h)			3,260,379
		4,900,000		Crown Castle Inc., 6.045% due 9/28/23(h)			4,877,774
		4,784,000		Walgreens Boots Alliance Inc., 6.113% due 10/13/23(h)			4,749,692
				TOTAL COMMERCIAL PAPERS (Cost – $16,556,144)			16,554,752
CORPORATE NOTE – 0.3%
		996,806		Tacora Resources Inc., 13.000% due 9/8/23(b)(e)(d)(i) (Cost – $991,212)			996,806
TIME DEPOSITS – 2.8%
		10,208,936	��	Barclays Bank PLC – London, 4.680% due 9/1/23			10,208,936
		624,450		Citibank – New York, 4.680% due 9/1/23			624,450
		779,338		Sumitomo Mitsui Banking Corp. – Tokyo, 4.680% due 9/1/23			779,338
				TOTAL TIME DEPOSITS (Cost – $11,612,724)			11,612,724
U.S. GOVERNMENT OBLIGATIONS – 2.2%
				U.S. Treasury Bills:
		6,000,000		4.158% due 10/5/23(h)			5,975,750
		3,270,000		5.110% due 5/16/24(h)			3,148,736
				TOTAL U.S. GOVERNMENT OBLIGATIONS (Cost – $9,130,734)			9,124,486
				TOTAL SHORT-TERM INVESTMENTS (Cost – $38,290,814)			38,288,768
				TOTAL INVESTMENTS – 99.8% (Cost – $434,419,712)			408,837,348
				Other Assets in Excess of Liabilities – 0.2%			894,167
				TOTAL NET ASSETS – 100.0%		$	409,731,515

†

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 August 31, 2023.

(b)

(c)

Security is currently in default.

(d)

Illiquid security. The aggregate value of illiquid holdings at August 31, 2023, amounts to $39,732,012 and represents 9.70% of net assets.

See Notes to Financial Statements.

154

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Low Duration Fixed Income Fund (continued)

(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)

Security is perpetual in nature and has no stated maturity date.

(g)

Interest only security.

(h)

Rate shown represents yield-to-maturity.

(i)

Payment in-kind security for which part of the income earned may be paid as additional principal.

Abbreviations used in this schedule:

CLO

— Collateralized Loan Obligation

CMT

— Constant Maturity Treasury Index

EURIBOR

— Euro Interbank Offered Rate

ICE

— Intercontinental Exchange

LIBOR

— London Interbank Offered Rate

LLC

— Limited Liability Company

— Limited Partnership

NIBOR

— Norwegian Interbank Offered Rate

MFA

— Mortgage Finance Authority

PLC

— Public Limited Company

REMICS

— Real Estate Mortgage Investment Conduit

SOFR

— Secured Overnight Financing Rate

STIBOR

— Stockholm Interbank Offered Rate

TSFR

— CME Term SOFR Reference Rate

Summary of Investments by Security Type^

	Corporate Bonds & Notes					47.1%
	Exchange Traded Fund (ETF)					10.4
	Asset-Backed Securities					10.4
	Senior Loans					9.3
	Collateralized Mortgage Obligations					7.1
	U.S. Government Obligations					5.5
	Mortgage-Backed Securities					0.5
	Sovereign Bonds					0.2
	Common Stock					0.1
	Warrants					0.0*
	Short-Term Investments					9.4
						100.0%

As a percentage of total investments.

Position represents less than 0.05%

See Notes to Financial Statements.

155

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Low Duration Fixed Income Fund (concluded)

At August 31, 2023, Destinations Low Duration Fixed Income Fund had open forward foreign currency contracts as described below.

The unrealized appreciation on the open contracts reflected in the accompanying financial statements was as follows:

Foreign Currency	Local Currency		Counterparty		Market Value			Settlement Date		Unrealized Appreciation			Unrealized (Depreciation)			Unrealized Appreciation/ (Depreciation)
Contracts to Buy:
Euro		810,000		BBH		$	878,695		9/15/23		$	2,465		$	—		$	2,465
Swedish Krona		2,605,000		BBH			238,058		9/15/23			1,291			—			1,291
											$	3,756		$	—			3,756
Contracts to Sell:
Euro		20,952,000		BBH			22,728,900		9/15/23		$	307,719		$	—		$	307,719
Norwegian Krone		20,018,000		BBH			1,883,623		9/15/23			42,592			—			42,592
Swedish Krona		20,070,000		BBH			1,834,097		9/15/23			25,823			—			25,823
											$	376,134		$	—		$	376,134
Net Unrealized Appreciation on Open Forward Foreign Currency Contracts											$	379,890		$	—		$	379,890

Counterparty Abbreviations used in this schedule:

BBH

— Brown Brothers Harriman & Co.

Currency Abbreviations used in this schedule:

EUR

— Euro

NOK

— Norwegian Krone

SEK

— Swedish Krona

See Notes to Financial Statements.

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August 31, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund

Face Amount/Units†			Security	Value
CORPORATE BONDS & NOTES – 69.7%
Australia – 1.8%
	$	1,750,000	Carbon Revolution Ltd., Senior Secured Notes, 8.500% due 5/15/27(a)(b)(c)		$	1,750,000
		12,605,000	Infrabuild Australia Pty Ltd., Senior Secured Notes, 12.000% due 10/1/24(c)			12,237,201
		1,250,000	QBE Insurance Group Ltd., Subordinated Notes, 6.750% (USD Swap Rate + 4.300%) due 12/2/44(d)			1,235,584
			Total Australia			15,222,785
Austria – 0.1%
		900,000	BRF GmbH, Company Guaranteed Notes, 4.350% due 9/29/26			845,856
Bermuda – 0.5%
			Digicel Group Holdings Ltd.:
		391,135	Senior Unsecured Notes, 8.000% due 4/1/25(a)(c)(e)			66,493
		65,015	Subordinated Notes, 7.000%(c)(f)(g)			6,176
		400,000	Geopark Ltd., Company Guaranteed Notes, 5.500% due 1/17/27			345,762
		4,185,000	Inkia Energy Ltd., Senior Unsecured Notes, 5.875% due 11/9/27			4,007,138
			Total Bermuda			4,425,569
Brazil – 1.1%
		5,100,000	Banco do Brasil SA, Junior Subordinated Notes, 6.250% (5-Year CMT Index + 4.398%)(d)(f)			4,821,855
		1,400,000	Banco do Estado do Rio Grande do Sul SA, Subordinated Notes, 5.375% (5-Year CMT Index + 4.928%) due 1/28/31(d)			1,285,740
		3,000,000	Itau Unibanco Holding SA, Subordinated Notes, 3.875% (5-Year CMT Index + 3.446%) due 4/15/31(d)			2,755,588
			Total Brazil			8,863,183
British Virgin Islands – 0.0%
		200,000	Gold Fields Orogen Holdings BVI Ltd., Company Guaranteed Notes, 5.125% due 5/15/24			198,404
Canada – 3.3%
		10,024,000	Columbia Care Inc., Senior Secured Notes, 9.500% due 2/3/26(a)			8,720,880
		1,465,000	Emera Inc., Junior Subordinated Notes, 6.750% (3-Month USD-LIBOR + 5.440%) due 6/15/76(d)			1,406,400
			Enbridge Inc., Subordinated Notes:
		575,000	6.000% (3-Month TSFR + 4.152%) due 1/15/77(d)			541,952
		315,000	5.500% (3-Month TSFR + 3.680%) due 7/15/77(d)			282,825
		735,000	5.750% (5-Year CMT Index + 5.314%) due 7/15/80(d)			669,185
		575,000	7.625% (5-Year CMT Index + 4.418%) due 1/15/83(d)			579,576
		2,473,000	Greenfire Resources Inc., Senior Secured Notes, 12.000% due 8/15/25(c)			2,609,015
		6,300,000	MEGlobal Canada ULC, Company Guaranteed Notes, 5.000% due 5/18/25			6,180,300
		1,000,000	MEGlobal Canada ULC 1, Company Guaranteed Notes, 5.000% due 5/18/25(c)			981,000
		7,495,000	Tacora Resources Inc., Senior Secured Notes, 8.250% due 5/15/26(c)(e)			4,534,475
			TransCanada Trust, Company Guaranteed Notes:
		280,000	5.500% (SOFRRATE + 4.416%) due 9/15/79(d)			235,206

See Notes to Financial Statements.

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August 31, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

Face Amount/Units†			Security	Value
CORPORATE BONDS & NOTES – (continued)
Canada – (continued)
	$	535,000	5.600% (5-Year CMT Index + 3.986%) due 3/7/82(d)		$	445,831
			Total Canada			27,186,645
Cayman Islands – 0.7%
		1,024,161	Bioceanico Sovereign Certificate Ltd., Senior Secured Notes, zero coupon, due 6/5/34			722,435
		500,000	Cosan Overseas Ltd., Company Guaranteed Notes, 8.250%(f)			497,500
		140,693	Interoceanica IV Finance Ltd., Senior Secured Notes, zero coupon, due 11/30/25			128,464
		609,680	Lima Metro Line 2 Finance Ltd., Senior Secured Notes, 5.875% due 7/5/34			598,022
		3,973,000	Sable International Finance Ltd., Senior Secured Notes, 5.750% due 9/7/27			3,684,958
			Total Cayman Islands			5,631,379
Chile – 2.4%
			AES Andes SA, Junior Subordinated Notes:
		800,000	7.125% (5-Year USD Swap Rate + 4.644%) due 3/26/79(c)(d)			765,088
		1,000,000	7.125% (5-Year USD Swap Rate + 4.644%) due 3/26/79(d)			956,361
		600,000	6.350% (5-Year CMT Index + 4.917%) due 10/7/79(d)			571,868
		1,700,000	Agrosuper SA, Senior Unsecured Notes, 4.600% due 1/20/32			1,412,968
		5,200,000	CAP SA, Senior Unsecured Notes, 3.900% due 4/27/31			3,878,853
		600,000	Cencosud SA, Company Guaranteed Notes, 5.150% due 2/12/25			590,645
		3,400,000	Chile Electricity PEC SpA, Senior Secured Notes, zero coupon, due 1/25/28(c)			2,645,946
		627,365	Empresa Electrica Angamos SA, Senior Secured Notes, 4.875% due 5/25/29			565,412
		2,042,720	Empresa Electrica Cochrane SpA, Senior Secured Notes, 5.500% due 5/14/27			1,899,730
		3,300,000	Enel Generacion Chile SA, Senior Unsecured Notes, 4.250% due 4/15/24			3,228,396
		2,118,000	GNL Quintero SA, Senior Unsecured Notes, 4.634% due 7/31/29			2,039,716
		1,803,000	VTR Comunicaciones SpA, Senior Secured Notes, 5.125% due 1/15/28			1,117,461
			Total Chile			19,672,444
Colombia – 2.2%
		250,000	Banco GNB Sudameris SA, Subordinated Notes, 7.051% (5-Year CMT Index + 4.561%) due 4/3/27(d)			239,895
		7,850,000	Bancolombia SA, Subordinated Notes, 4.625% (5-Year CMT Index + 2.944%) due 12/18/29(d)			6,931,685
			Ecopetrol SA, Senior Unsecured Notes:
		1,700,000	4.125% due 1/16/25			1,647,504
		4,000,000	6.875% due 4/29/30			3,725,194
		3,372,000	Empresas Publicas de Medellin ESP, Senior Unsecured Notes, 4.375% due 2/15/31			2,617,322
		728,000	Fideicomiso PA Pacifico Tres, Senior Secured Notes, 8.250% due 1/15/35			660,660
		1,450,000	Grupo de Inversiones Suramericana SA, Senior Unsecured Notes, 5.500% due 4/29/26			1,400,005

See Notes to Financial Statements.

158

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

Face Amount/Units†			Security	Value
CORPORATE BONDS & NOTES – (continued)
Colombia – (continued)
	$	1,000,000	Oleoducto Central SA, Senior Unsecured Notes, 4.000% due 7/14/27		$	897,268
			Total Colombia			18,119,533
Denmark – 0.5%
		4,069,000EUR	Skill Bidco ApS, Senior Secured Notes, 10.545% (3-Month EURIBOR + 6.750%) due 3/2/28(d)			4,296,201
France – 0.6%
			BNP Paribas SA, Junior Subordinated Notes:
		675,000	7.750% (5-Year CMT Index + 4.899%)(c)(d)(f)			655,169
		295,000	8.500% (5-Year CMT Index + 4.354%)(c)(d)(f)			293,967
		595,000	9.250% (5-Year CMT Index + 4.969%)(c)(d)(f)			613,070
		1,600,000	Credit Agricole SA, Junior Subordinated Notes, 8.125% (5-Year USD Swap Rate + 6.185%)(c)(d)(f)			1,594,221
			Societe Generale SA, Junior Subordinated Notes:
		450,000	6.750% (5-Year USD Swap Rate + 3.929%)(c)(d)(f)			381,182
		1,275,000	9.375% (5-Year CMT Index + 5.385%)(c)(d)(f)			1,267,775
			Total France			4,805,384
Germany – 1.6%
		2,873,000EUR	DEAG Deutsche Entertainment AG, Senior Unsecured Notes, 8.000% due 7/12/26			3,182,468
			Deutsche Bank AG, Junior Subordinated Notes:
		200,000	4.789% (5-Year USD Swap Rate + 4.358%)(d)(f)			165,250
		1,400,000	6.000% (5-Year CMT Index + 4.524%)(d)(f)			1,116,500
		2,568,168EUR	Lifefit Group Midco GmbH, Senior Secured Notes, 13.112% (3-Month EURIBOR + 7.500%) due 1/26/25(g)			2,687,201
		3,770,000EUR	LR Global Holding GmbH, Senior Secured Notes, 11.053% (3-Month EURIBOR + 7.250%) due 2/3/25(d)			3,944,738
		2,054,000EUR	Secop Group Holding GmbH, Senior Secured Notes, 11.954% (3-Month EURIBOR + 8.400%) due 12/29/26(d)			2,238,288
			Total Germany			13,334,445
Guatemala – 0.6%
		2,300,000	Banco Industrial SA, Subordinated Notes, 4.875% (5-Year CMT Index + 4.442%) due 1/29/31(d)			2,133,710
		3,000,000	CT Trust, Senior Secured Notes, 5.125% due 2/3/32			2,470,440
			Total Guatemala			4,604,150
India – 2.0%
		2,800,000	Adani Electricity Mumbai Ltd., Senior Secured Notes, 3.949% due 2/12/30			2,056,734
		1,509,750	Adani International Container Terminal Pvt Ltd., Senior Secured Notes, 3.000% due 2/16/31			1,144,211
			Adani Ports & Special Economic Zone Ltd., Senior Unsecured Notes:
		1,300,000	3.375% due 7/24/24			1,247,710

See Notes to Financial Statements.

159

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

Face Amount/Units†			Security	Value
CORPORATE BONDS & NOTES – (continued)
India – (continued)
	$	3,100,000	4.000% due 7/30/27		$	2,582,174
		800,000	4.200% due 8/4/27			670,026
		1,200,000	3.828% due 2/2/32			844,919
			Adani Transmission Step-One Ltd., Senior Secured Notes:
		1,300,000	4.000% due 8/3/26			1,132,106
		3,015,500	4.250% due 5/21/36			2,229,980
		850,000	ONGC Videsh Ltd., Company Guaranteed Notes, 4.625% due 7/15/24			840,117
		4,100,000	Reliance Industries Ltd., Senior Unsecured Notes, 4.125% due 1/28/25			4,009,459
			Total India			16,757,436
Indonesia – 1.4%
		3,400,000	Freeport Indonesia PT, Senior Unsecured Notes, 4.763% due 4/14/27(c)			3,265,344
		3,500,000	Indonesia Asahan Aluminium PT/Mineral Industri Indonesia Persero PT, Senior Unsecured Notes, 4.750% due 5/15/25			3,430,146
		4,500,000	Pertamina Persero PT, Senior Unsecured Notes, 1.400% due 2/9/26			4,063,629
		1,200,000	Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, Senior Unsecured Notes, 4.125% due 5/15/27			1,137,457
			Total Indonesia			11,896,576
Israel – 1.0%
		5,338,000	Bank Hapoalim BM, Subordinated Notes, 3.255% (5-Year CMT Index + 2.155%) due 1/21/32(c)(d)			4,576,086
		4,170,000	Bank Leumi Le-Israel BM, Subordinated Notes, 3.275% (5-Year CMT Index + 1.631%) due 1/29/31(c)(d)			3,747,162
			Total Israel			8,323,248
Italy – 1.1%
		485,000	Intesa Sanpaolo SpA, Company Guaranteed Notes, 7.700% (5-Year USD Swap Rate + 5.462%)(c)(d)(f)			459,142
		7,956,000EUR	Opnet SpA, Senior Secured Notes, 9.848% (3-Month EURIBOR + 6.250%) due 2/9/26(a)(c)(d)			8,626,691
			Total Italy			9,085,833
Jersey, Channel Islands – 0.6%
		5,397,338	Galaxy Pipeline Assets Bidco Ltd., Senior Secured Notes, 1.750% due 9/30/27			4,979,110
Luxembourg – 3.1%
			Cosan Luxembourg SA, Company Guaranteed Notes:
		673,000	7.000% due 1/20/27			671,670
		5,100,000	7.500% due 6/27/30(c)			5,097,602
			CSN Resources SA, Company Guaranteed Notes:
		900,000	7.625% due 4/17/26			893,250
		2,350,000	5.875% due 4/8/32			1,900,528
		2,122,224	Guara Norte SARL, Senior Secured Notes, 5.198% due 6/15/34			1,856,834

See Notes to Financial Statements.

160

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

Face Amount/Units†			Security	Value
CORPORATE BONDS & NOTES – (continued)
Luxembourg – (continued)
	$	2,867,835	MC Brazil Downstream Trading SARL, Senior Secured Notes, 7.250% due 6/30/31		$	1,921,449
			Millicom International Cellular SA, Senior Unsecured Notes:
		2,277,900	6.625% due 10/15/26			2,237,692
		2,565,000	5.125% due 1/15/28			2,325,727
		900,000	6.250% due 3/25/29			823,130
		2,600,000	Minerva Luxembourg SA, Company Guaranteed Notes, 4.375% due 3/18/31			2,069,131
		2,600,000	Nexa Resources SA, Company Guaranteed Notes, 5.375% due 5/4/27			2,445,054
		3,577,000	Puffin Finance SARL, Senior Secured Notes, 15.000% due 9/11/25			3,666,425
			Total Luxembourg			25,908,492
Malaysia – 0.9%
		1,250,000	Axiata SPV2 Bhd, Senior Unsecured Notes, 4.357% due 3/24/26			1,213,056
		6,700,000	TNB Global Ventures Capital Bhd, Senior Unsecured Notes, 3.244% due 10/19/26			6,266,475
			Total Malaysia			7,479,531
Mauritius – 0.5%
		2,500,000	Network i2i Ltd., Company Guaranteed Notes, 5.650% (5-Year CMT Index + 4.274%)(d)(f)			2,431,250
		2,200,000	UPL Corp., Ltd., Company Guaranteed Notes, 4.500% due 3/8/28			1,924,017
			Total Mauritius			4,355,267
Mexico – 3.0%
		6,500,000	Banco Mercantil del Norte SA, Junior Subordinated Notes, 5.875% (5-Year CMT Index + 4.643%)(d)(f)			5,722,495
		2,800,000	Banco Nacional de Comercio Exterior SNC, Subordinated Notes, 2.720% (5-Year CMT Index + 2.000%) due 8/11/31(d)			2,348,249
		1,000,000	Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand, Subordinated Notes, 5.950% (5-Year CMT Index + 2.995%) due 10/1/28(d)			989,455
			BBVA Bancomer SA, Subordinated Notes:
		2,443,000	5.350% (5-Year CMT Index + 3.000%) due 11/12/29(d)			2,358,707
		3,800,000	5.875% (5-Year CMT Index + 4.308%) due 9/13/34(d)			3,376,161
		5,500,000	Cemex SAB de CV, Subordinated Notes, 5.125% (5-Year CMT Index + 4.534%) (d)(f)			5,103,547
		1,900,000	Industrias Penoles SAB de CV, Senior Unsecured Notes, 4.150% due 9/12/29			1,726,357
		1,512,963	Mexico Generadora de Energia S de rl, Senior Secured Notes, 5.500% due 12/6/32			1,451,618
		3,300,000	Petroleos Mexicanos, Company Guaranteed Notes, 6.750% due 9/21/47			2,042,480
			Total Mexico			25,119,069

See Notes to Financial Statements.

161

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

Face Amount/Units†			Security	Value
CORPORATE BONDS & NOTES – (continued)
Multinational – 0.6%
	$	4,293,000	Connect Finco SARL/Connect US Finco LLC, Senior Secured Notes, 6.750% due 10/1/26(c)		$	4,072,583
		1,400,000	JBS USA LUX SA/JBS USA Food Co./JBS USA Finance Inc., Company Guaranteed Notes, 3.000% due 2/2/29			1,201,211
			Total Multinational			5,273,794
Netherlands – 3.6%
		200,000	Aegon NV, Subordinated Notes, 5.500% (6-Month USD-LIBOR + 3.540%) due 4/11/48(d)			187,920
		1,755,000	AerCap Holdings NV, Company Guaranteed Notes, 5.875% (5-Year CMT Index + 4.535%) due 10/10/79(d)			1,694,462
		1,122,000EUR	Azerion Holding BV, Senior Secured Notes, 7.250% due 4/28/24			1,198,336
		4,700,000	Braskem Netherlands Finance BV, Company Guaranteed Notes, 8.500% (5-Year CMT Index + 8.220%) due 1/23/81(d)			4,727,025
		5,878,000	Clear Channel International BV, Senior Secured Notes, 6.625% due 8/1/25(c)			5,824,488
			ING Groep NV, Junior Subordinated Notes:
		735,000	5.750% (5-Year CMT Index + 4.342%)(d)(f)			654,959
		400,000	6.500% (5-Year USD Swap Rate + 4.446%)(d)(f)			377,757
		200,000	6.750% (5-Year USD 1100 Run ICE Swap Rate + 4.204%)(d)(f)			195,149
			Minejesa Capital BV, Senior Secured Notes:
		6,200,000	4.625% due 8/10/30			5,595,259
		1,300,000	5.625% due 8/10/37			1,020,289
		1,000,000	Mong Duong Finance Holdings BV, Senior Secured Notes, 5.125% due 5/7/29			902,081
		4,930,060	MV24 Capital BV, Senior Secured Notes, 6.748% due 6/1/34			4,443,406
		2,700,000	Petrobras Global Finance BV, Company Guaranteed Notes, 7.375% due 1/17/27			2,795,053
		1,600,000	VTR Finance NV, Senior Unsecured Notes, 6.375% due 7/15/28			728,238
			Total Netherlands			30,344,422
Norway – 0.7%
		14,500,000NOK	Aker Horizons ASA, Senior Unsecured Notes, 7.930% (3-Month NIBOR + 3.250%) due 8/15/25(d)			1,322,181
		29,500,000NOK	Austevoll Seafood ASA, Senior Unsecured Notes, 6.150% (3-Month NIBOR + 2.000%) due 6/21/28(d)			2,774,864
		4,933,000NOK	Duett Software Group AS, Senior Secured Notes, 9.450% (3-Month NIBOR + 5.000%) due 4/12/26(d)			448,933
		3,900,000NOK	Kistefos AS, Senior Unsecured Notes, 9.770% (3-Month NIBOR + 5.000%) due 9/13/28(d)			366,846
		1,200,000EUR	LINK Mobility Group Holding ASA, Senior Unsecured Notes, 3.375% due 12/15/25			1,177,550
		209,998	Mime Petroleum AS, Subordinated Notes, 13.500% due 3/21/83			42,000
			Total Norway			6,132,374

See Notes to Financial Statements.

162

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

Face Amount/Units†			Security	Value
CORPORATE BONDS & NOTES – (continued)
Panama – 0.4%
	$	2,000,000	Global Bank Corp., Senior Unsecured Notes, 5.250% (3-Month USD-LIBOR + 3.300%) due 4/16/29(d)		$	1,877,000
		1,100,000	Multibank Inc., Senior Unsecured Notes, 7.750% due 2/3/28(c)			1,116,610
			Total Panama			2,993,610
Paraguay – 0.2%
		450,000	Banco Continental SAECA, Senior Unsecured Notes, 2.750% due 12/10/25(c)			409,034
		1,200,000	Frigorifico Concepcion SA, Senior Secured Notes, 7.700% due 7/21/28			1,016,305
			Total Paraguay			1,425,339
Peru – 3.6%
			Banco de Credito del Peru SA, Subordinated Notes:
		2,050,000	3.125% (5-Year CMT Index + 3.000%) due 7/1/30(d)			1,904,219
		2,800,000	3.250% (5-Year CMT Index + 2.450%) due 9/30/31(c)(d)			2,498,798
		1,950,000	3.250% (5-Year CMT Index + 2.450%) due 9/30/31(d)			1,740,235
			Banco Internacional del Peru SAA Interbank, Subordinated Notes:
		1,500,000	6.625% (3-Month USD-LIBOR + 5.760%) due 3/19/29(d)			1,490,472
		4,392,000	4.000% (5-Year CMT Index + 3.711%) due 7/8/30(d)			4,029,660
		750,000	Camposol SA, Company Guaranteed Notes, 6.000% due 2/3/27			518,808
		4,023,529	Fenix Power Peru SA, Senior Unsecured Notes, 4.317% due 9/20/27			3,731,824
		5,241,600	Hunt Oil Co. of Peru LLC Sucursal Del Peru, Senior Unsecured Notes, 6.375% due 6/1/28			4,988,228
		2,700,000	Kallpa Generacion SA, Senior Unsecured Notes, 4.875% due 5/24/26			2,592,000
		2,200,000	Orazul Energy Peru SA, Company Guaranteed Notes, 5.625% due 4/28/27			1,987,260
		4,300,000	Petroleos del Peru SA, Senior Unsecured Notes, 5.625% due 6/19/47			2,751,646
		2,000,000	Transportadora de Gas del Peru SA, Senior Unsecured Notes, 4.250% due 4/30/28			1,921,339
			Total Peru			30,154,489
Portugal – 0.0%
		70,068	Invepar, zero coupon, due 12/30/28(a)(b)			—
Singapore – 3.6%
		6,000,000	DBS Group Holdings Ltd., Subordinated Notes, 1.822% (5-Year CMT Index + 1.100%) due 3/10/31(d)			5,427,835
		4,023,000	LLPL Capital Pte Ltd., Senior Secured Notes, 6.875% due 2/4/39			3,548,272
		2,350,000	ONGC Videsh Vankorneft Pte Ltd., Company Guaranteed Notes, 3.750% due 7/27/26			2,233,346
		6,700,000	Oversea-Chinese Banking Corp., Ltd., Subordinated Notes, 1.832% (5-Year CMT Index + 1.580%) due 9/10/30(c)(d)			6,168,824
		1,150,000	PSA Treasury Pte Ltd., Company Guaranteed Notes, 2.500% due 4/12/26			1,069,327
		6,500,000	SingTel Group Treasury Pte Ltd., Company Guaranteed Notes, 2.375% due 10/3/26			5,958,095
			United Overseas Bank Ltd., Subordinated Notes:
		6,400,000	1.750% (5-Year CMT Index + 1.520%) due 3/16/31(d)			5,748,666

See Notes to Financial Statements.

163

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

Face Amount/Units†				Security	Value
CORPORATE BONDS & NOTES – (continued)
Singapore – (continued)
	$	200,000		2.000% (5-Year CMT Index + 1.230%) due 10/14/31(d)		$	176,902
				Total Singapore			30,331,267
South Korea – 2.3%
		4,900,000		Korea East-West Power Co., Ltd., Senior Unsecured Notes, 1.750% due 5/6/25(c)			4,596,492
		4,300,000		Korea Southern Power Co., Ltd., Senior Unsecured Notes, 0.750% due 1/27/26(c)			3,834,638
				KT Corp., Senior Unsecured Notes:
		7,300,000		1.000% due 9/1/25			6,676,475
		400,000		2.500% due 7/18/26			369,008
		3,900,000		LG Chem Ltd., Senior Unsecured Notes, 3.250% due 10/15/24			3,789,286
				Total South Korea			19,265,899
Spain – 0.7%
		4,401,650		AI Candelaria Spain SA, Senior Secured Notes, 7.500% due 12/15/28			4,066,024
				Banco Bilbao Vizcaya Argentaria SA, Junior Subordinated Notes:
		800,000		6.125% (5-Year USD Swap Rate + 3.870%)(d)(f)			684,028
		200,000		6.500% (5-Year CMT Index + 5.192%)(d)(f)			187,776
				Banco Santander SA, Junior Subordinated Notes:
		1,400,000		4.750% (5-Year CMT Index + 3.753%)(d)(f)			1,069,036
		200,000		7.500% (5-Year USD 1100 Run ICE Swap Rate + 4.989%)(d)(f)			191,989
				Total Spain			6,198,853
Sweden – 0.3%
		25,000,000SEK		Stockwik Forvaltning AB, Senior Secured Notes, 11.779% (3-Month SEK-STIBOR + 8.000%) due 3/20/26(d)			2,203,589
		3,750,000SEK		Storskogen Group AB, Senior Unsecured Notes, 10.707% (3-Month SEK-STIBOR + 6.875%) due 3/22/27(d)			348,521
				Total Sweden			2,552,110
Switzerland – 0.2%
		635,000		Credit Suisse Group AG, Junior Subordinated Notes, 9.750% (5-Year CMT Index + 6.383%)(c)(f)			31,750
				UBS Group AG, Junior Subordinated Notes:
		1,180,000		6.875% (5-Year USD Swap Rate + 4.590%)(d)(f)			1,105,157
		300,000		7.000% (5-Year USD Swap Rate + 4.344%)(c)(d)(f)			297,450
				Total Switzerland			1,434,357
United Kingdom – 2.6%
			��	Barclays PLC, Junior Subordinated Notes:
		720,000		6.125% (5-Year CMT Index + 5.867%)(d)(f)			638,959
		1,900,000		8.000% (5-Year CMT Index + 5.431%)(d)(f)			1,698,334
		6,314,000		7.750% (5-Year USD Swap Rate + 4.842%)(d)(f)			6,313,559

See Notes to Financial Statements.

164

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August 31, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

Face Amount/Units†			Security	Value
CORPORATE BONDS & NOTES – (continued)
United Kingdom – (continued)
			HSBC Holdings PLC, Junior Subordinated Notes:
	$	450,000	6.375% (5-Year USD 1100 Run ICE Swap Rate + 4.368%)(d)(f)		$	433,755
		2,355,000	8.000% (5-Year CMT Index + 3.858%)(d)(f)			2,348,781
		12,500,000SEK	Impala BondCo PLC, Senior Secured Notes, 12.868% (3-Month SEK-STIBOR + 9.000%) due 10/20/24(d)			1,004,745
			Lloyds Banking Group PLC, Junior Subordinated Notes:
		1,340,000	7.500% (5-Year USD 1100 Run ICE Swap Rate + 4.496%)(d)(f)			1,254,081
		600,000	8.000% (5-Year CMT Index + 3.913%)(d)(f)			543,140
		2,400,000	MARB BondCo PLC, Company Guaranteed Notes, 3.950% due 1/29/31			1,867,744
			NatWest Group PLC, Junior Subordinated Notes:
		945,000	6.000% (5-Year CMT Index + 5.625%)(d)(f)			868,430
		950,000	8.000% (5-Year USD Swap Rate + 5.720%)(d)(f)			926,202
		240,000	Standard Chartered PLC, Junior Subordinated Notes, 6.000% (5-Year CMT Index + 5.661%)(c)(d)(f)			227,989
		2,327,000	TransDigm UK Holdings PLC, Company Guaranteed Notes, 6.875% due 5/15/26			2,366,547
		200,000	Vedanta Resources Ltd., Senior Unsecured Notes, 6.125% due 8/9/24			119,158
			Vodafone Group PLC, Junior Subordinated Notes:
		1,185,000	7.000% (5-Year USD Swap Rate + 4.873%) due 4/4/79(d)			1,193,549
		250,000	4.125% (5-Year CMT Index + 2.767%) due 6/4/81(d)			195,208
			Total United Kingdom			22,000,181
United States – 21.9%
		7,321,000	99 Escrow Issuer Inc., Senior Secured Notes, 7.500% due 1/15/26(c)			2,886,013
		820,000	AerCap Global Aviation Trust, Company Guaranteed Notes, 6.500% (3-Month TSFR + 4.562%) due 6/15/45(c)(d)			808,549
		1,080,000	Air Lease Corp., Junior Subordinated Notes, 4.650% (5-Year CMT Index + 4.076%)(d)(f)			939,892
		1,315,000	Ally Financial Inc., Junior Subordinated Notes, 4.700% (5-Year CMT Index + 3.868%)(d)(f)			890,528
		250,000	American AgCredit Corp., Junior Subordinated Notes, 5.250% (5-Year CMT Index + 4.500%)(c)(d)(f)			221,250
		160,000	American Electric Power Co., Inc., Junior Subordinated Notes, 3.875% (5-Year CMT Index + 2.675%) due 2/15/62(d)			129,001
		465,000	American Express Co., Junior Subordinated Notes, 3.550% (5-Year CMT Index + 2.854%)(d)(f)			387,113
		1,938,000	American Greetings Corp., Company Guaranteed Notes, 8.750% due 4/15/25(c)			1,907,526
		160,000	American International Group Inc., Junior Subordinated Notes, 5.750% (3-Month USD-LIBOR + 2.868%) due 4/1/48(d)			151,080
		3,269,522	Anagram International Inc./Anagram Holdings LLC, Senior Secured Notes, 15.000% due 8/15/25(c)			3,138,741

See Notes to Financial Statements.

165

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

Face Amount/Units†			Security	Value
CORPORATE BONDS & NOTES – (continued)
United States – (continued)
	$	1,200,000	Assurant Inc., Subordinated Notes, 7.000% (3-Month USD-LIBOR + 4.135%) due 3/27/48(d)		$	1,162,471
		969,000	Assured Guaranty Municipal Holdings Inc., Company Guaranteed Notes, 6.400% (1-Month USD-LIBOR + 2.215%) due 12/15/66(c)(d)			855,592
		311,000	AXIS Specialty Finance LLC, Company Guaranteed Notes, 4.900% (5-Year CMT Index + 3.186%) due 1/15/40(d)			250,114
			Bank of America Corp., Junior Subordinated Notes:
		355,000	4.375% (5-Year CMT Index + 2.760%)(d)(f)			304,704
		200,000	6.100% (3-Month TSFR + 4.160%)(d)(f)			196,587
		250,000	6.250% (3-Month TSFR + 3.967%)(d)(f)			248,750
		1,550,000	6.300% (3-Month TSFR + 4.815%)(d)(f)			1,545,819
		1,140,000	6.500% (3-Month TSFR + 4.436%)(d)(f)			1,142,850
		500,000	Bank of New York Mellon Corp., Junior Subordinated Notes, 4.700% (5-Year CMT Index + 4.358%)(d)(f)			485,080
		9,250,000	BuzzFeed Inc., Company Guaranteed Notes, 8.500% due 12/3/26(c)			5,923,700
		280,000	Capital Farm Credit ACA, Junior Subordinated Notes, 5.000% (5-Year CMT Index + 4.523%)(c)(d)(f)			249,200
		685,000	Capital One Financial Corp., Junior Subordinated Notes, 3.950% (5-Year CMT Index + 3.157%)(d)(f)			525,738
		1,240,000	CenterPoint Energy Inc., Junior Subordinated Notes, 6.125% (3-Month USD-LIBOR + 3.270%)(d)(f)			1,240,000
			Charles Schwab Corp., Junior Subordinated Notes:
		610,000	4.000% (5-Year CMT Index + 3.168%)(d)(f)			527,833
		945,000	5.375% (5-Year CMT Index + 4.971%)(d)(f)			911,925
			Citigroup Inc., Junior Subordinated Notes:
		265,000	4.150% (5-Year CMT Index + 3.000%)(d)(f)			220,954
		795,000	5.000% (SOFRRATE + 3.813%)(d)(f)			760,974
		1,504,000	5.950% (3-Month TSFR + 4.167%)(d)(f)			1,450,044
		1,225,000	6.250% (3-Month TSFR + 4.779%)(d)(f)			1,205,278
		560,000	6.300% (3-Month TSFR + 3.685%)(d)(f)			550,340
		480,000	7.375% (5-Year CMT Index + 3.209%)(d)(f)			483,000
		450,000	9.699% (3-Month TSFR + 4.330%)(d)(f)			449,998
			Citizens Financial Group Inc., Junior Subordinated Notes:
		460,000	4.000% (5-Year CMT Index + 3.215%)(d)(f)			347,953
		100,000	6.375% (3-Month TSFR + 3.419%)(d)(f)			86,575
		215,000	CMS Energy Corp., Junior Subordinated Notes, 4.750% (5-Year CMT Index + 4.116%) due 6/1/50(d)			187,785
			CoBank ACB, Junior Subordinated Notes:
		1,075,000	6.250% (3-Month USD-LIBOR + 4.660%)(d)(f)			1,031,080
		460,000	6.450% (5-Year CMT Index + 3.487%)(d)(f)			438,365

See Notes to Financial Statements.

166

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

Face Amount/Units†			Security	Value
CORPORATE BONDS & NOTES – (continued)
United States – (continued)
	$	650,000	Compeer Financial ACA, Junior Subordinated Notes, 4.875% (5-Year CMT Index + 4.095%)(a)(c)(d)(f)		$	585,000
		510,000	Dairy Farmers of America Inc., Junior Subordinated Notes, 7.125%(c)(f)			453,900
			Discover Financial Services, Junior Subordinated Notes:
		125,000	5.500% (3-Month TSFR + 3.338%)(d)(f)			93,050
		490,000	6.125% (5-Year CMT Index + 5.783%)(d)(f)			470,845
			Edison International, Junior Subordinated Notes:
		570,000	5.000% (5-Year CMT Index + 3.901%)(d)(f)			490,200
		535,000	5.375% (5-Year CMT Index + 4.698%)(d)(f)			472,663
			Energy Transfer LP, Junior Subordinated Notes:
		1,060,000	6.500% (5-Year CMT Index + 5.694%)(d)(f)			966,773
		44,000	7.125% (5-Year CMT Index + 5.306%)(d)(f)			38,935
		610,000	Enstar Finance LLC, Company Guaranteed Notes, 5.500% (5-Year CMT Index + 4.006%) due 1/15/42(d)			481,999
		615,000	Equitable Holdings Inc., Junior Subordinated Notes, 4.950% (5-Year CMT Index + 4.736%)(d)(f)			589,788
		705,000	Fifth Third Bancorp, Junior Subordinated Notes, 4.500% (5-Year CMT Index + 4.215%)(d)(f)			641,419
		260,000	First Citizens BancShares Inc., Junior Subordinated Notes, 9.524% (3-Month USD-LIBOR + 3.972%)(d)(f)			262,032
		2,838,000	Five Point Operating Co. LP/Five Point Capital Corp., Company Guaranteed Notes, 7.875% due 11/15/25(c)			2,646,477
			Freeport-McMoRan Inc., Company Guaranteed Notes:
		3,000,000	5.000% due 9/1/27			2,881,871
		2,700,000	4.125% due 3/1/28			2,504,364
		940,000	FXI Holdings Inc., Senior Secured Notes, 12.250% due 11/15/26(c)			843,650
			General Electric Co., Junior Subordinated Notes:
		373,000	7.832% (3-Month USD-LIBOR + 2.280%)(d)(f)			373,000
		198,000	7.922% (3-Month USD-LIBOR + 2.370%)(d)(f)			197,901
		9,470,000	8.882% (3-Month USD-LIBOR + 3.330%)(d)(f)			9,470,000
			General Motors Financial Co., Inc., Junior Subordinated Notes:
		1,605,000	5.700% (5-Year CMT Index + 4.997%)(d)(f)			1,375,111
		1,685,000	5.750% (3-Month USD-LIBOR + 3.598%)(d)(f)			1,381,700
		4,483,000	Getty Images Inc., Company Guaranteed Notes, 9.750% due 3/1/27(c)			4,475,646
			Goldman Sachs Group Inc., Junior Subordinated Notes:
		395,000	4.125% (5-Year CMT Index + 2.949%)(d)(f)			331,758
		1,405,000	5.300% (3-Month TSFR + 4.096%)(d)(f)			1,354,069
		1,209,000	5.500% (5-Year CMT Index + 3.623%)(d)(f)			1,183,849
		530,000	7.500% (5-Year CMT Index + 3.156%)(d)(f)			532,650
		3,000,000	Hawaii Electric Light Co., Inc., 3.280% due 12/30/40(a)(b)			1,710,000

See Notes to Financial Statements.

167

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

Face Amount/Units†			Security	Value
CORPORATE BONDS & NOTES – (continued)
United States – (continued)
	$	7,548,459	Hawaiian Airlines 2013-1 Class A Pass-Through Certificates, Pass Thru Certificates, 3.900% due 1/15/26		$	6,830,731
		310,000	Hercules Achievement Inc./Varsity Brands Holding Co., Inc., Senior Secured Notes, 13.503% (3-Month TSFR + 8.262%) due 12/22/24(c)(d)			303,458
		1,408,000	HighPeak Energy Inc., Company Guaranteed Notes, 10.000% due 2/15/24(a)(c)			1,432,640
		1,260,000	Huntington Bancshares Inc., Junior Subordinated Notes, 5.625% (5-Year CMT Index + 4.945%)(d)(f)			1,146,600
			Icahn Enterprises LP/Icahn Enterprises Finance Corp., Company Guaranteed Notes:
		1,619,000	4.750% due 9/15/24			1,564,719
		4,790,000	6.375% due 12/15/25			4,566,693
		11,715,000	IEA Energy Services LLC, Company Guaranteed Notes, 6.625% due 8/15/29(c)			11,441,923
		250,000	ILFC E-Capital Trust II, Limited Guaranteed Notes, 7.314% (3-Month USD-LIBOR + 1.800%) due 12/21/65(c)(d)			184,176
		10,882,000	INNOVATE Corp., Senior Secured Notes, 8.500% due 2/1/26(c)(h)			8,324,730
			JPMorgan Chase & Co., Junior Subordinated Notes:
		565,000	3.650% (5-Year CMT Index + 2.850%)(d)(f)			499,267
		1,495,000	5.000% (3-Month TSFR + 3.380%)(d)(f)			1,464,181
		200,000	6.100% (3-Month TSFR + 3.592%)(d)(f)			199,000
		1,855,000	6.750% (3-Month TSFR + 4.042%)(d)(f)			1,855,000
		280,000	KeyCorp, Junior Subordinated Notes, 5.000% (3-Month TSFR + 3.868%)(d)(f)			217,112
		1,655,000	Land O’ Lakes Inc., Junior Subordinated Notes, 7.250%(c)(f)			1,340,550
		7,109,000	Leafly Holdings Inc., Senior Unsecured Notes, 8.000% due 1/31/25(a)(b)			6,042,650
			M&T Bank Corp., Junior Subordinated Notes:
		170,000	3.500% (5-Year CMT Index + 2.679%)(d)(f)			120,848
		655,000	5.125% (3-Month USD-LIBOR + 3.520%)(d)(f)			542,131
		1,360,000	Markel Group Inc., Junior Subordinated Notes, 6.000% (5-Year CMT Index + 5.662%)(d)(f)			1,318,833
		1,700,000	Mercury Chile Holdco LLC, Senior Secured Notes, 6.500% due 1/24/27(c)			1,573,562
			MetLife Inc., Junior Subordinated Notes:
		580,000	3.850% (5-Year CMT Index + 3.576%)(d)(f)			534,818
		885,000	5.875% (3-Month TSFR + 3.221%)(d)(f)			826,325
		2,000,000	NBM US Holdings Inc., Company Guaranteed Notes, 7.000% due 5/14/26			1,972,303
		5,913,000	NGL Energy Operating LLC/NGL Energy Finance Corp., Senior Secured Notes, 7.500% due 2/1/26(c)			5,886,837
		330,000	Paramount Global, Junior Subordinated Notes, 6.375% (5-Year CMT Index + 3.999%) due 3/30/62(d)			272,250
		195,000	PartnerRe Finance B LLC, Company Guaranteed Notes, 4.500% (5-Year CMT Index + 3.815%) due 10/1/50(d)			163,513
			PNC Financial Services Group Inc., Junior Subordinated Notes:
		447,000	5.000% (3-Month TSFR + 3.562%)(d)(f)			390,070

See Notes to Financial Statements.

168

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

Face Amount/Units†			Security	Value
CORPORATE BONDS & NOTES – (continued)
United States – (continued)
	$	500,000	6.000% (5-Year CMT Index + 3.000%)(d)(f)		$	449,550
		695,000	6.200% (5-Year CMT Index + 3.238%)(d)(f)			648,142
		865,000	6.250% (5-Year CMT Index + 2.808%)(d)(f)			765,171
		545,000	8.711% (3-Month TSFR + 3.302%)(d)(f)			540,220
		3,399,856	ProSomnus Holdings Inc., 9.000% due 12/31/49(a)(b)			2,921,986
		330,000	Provident Financing Trust I, Limited Guaranteed Notes, 7.405% due 3/15/38			326,951
		895,000	Prudential Financial Inc., Junior Subordinated Notes, 5.125% (5-Year CMT Index + 3.162%) due 3/1/52(d)			799,585
		735,000	Regions Financial Corp., Junior Subordinated Notes, 5.750% (5-Year CMT Index + 5.430%)(d)(f)			700,580
		2,700,000	Sasol Financing USA LLC, Company Guaranteed Notes, 4.375% due 9/18/26			2,426,635
			SBL Holdings Inc., Junior Subordinated Notes:
		1,195,000	6.500% (5-Year CMT Index + 5.620%)(c)(d)(f)			672,863
		845,000	7.000% (5-Year CMT Index + 5.580%)(c)(d)(f)			514,842
			Sempra, Junior Subordinated Notes:
		510,000	4.875% (5-Year CMT Index + 4.550%)(d)(f)			482,353
		230,000	4.125% (5-Year CMT Index + 2.868%) due 4/1/52(d)			185,976
		520,000	Southern Co., Junior Subordinated Notes, 4.000% (5-Year CMT Index + 3.733%) due 1/15/51(d)			482,204
		7,097,000	Sprint LLC, Company Guaranteed Notes, 7.875% due 9/15/23			7,100,052
		8,135,000	StoneX Group Inc., Senior Secured Notes, 8.625% due 6/15/25(c)			8,237,420
		3,128,000	Summit Midstream Holdings LLC/Summit Midstream Finance Corp., Secured Notes, step bond to yield, 9.000% due 10/15/26(c)			3,018,520
		1,655,000	TransDigm Inc., Company Guaranteed Notes, 6.375% due 6/15/26			1,654,814
			Truist Financial Corp., Junior Subordinated Notes:
		810,000	4.800% (5-Year CMT Index + 3.003%)(d)(f)			717,255
		2,155,000	5.100% (5-Year CMT Index + 4.349%)(d)(f)			1,885,410
		3,148,000	Uber Technologies Inc., Company Guaranteed Notes, 8.000% due 11/1/26(c)			3,205,284
		7,295,000	UpHealth Inc., Senior Unsecured Notes, 6.250% due 6/15/26(c)			2,918,000
			Vistra Corp., Junior Subordinated Notes:
		205,000	7.000% (5-Year CMT Index + 5.740%)(c)(d)(f)			189,740
		120,000	8.000% (5-Year CMT Index + 6.930%)(c)(d)(f)			114,679
		390,000	Voya Financial Inc., Junior Subordinated Notes, 6.125% (5-Year CMT Index + 3.358%)(d)(f)			385,488
		2,844,000	Warnermedia Holdings Inc., Company Guaranteed Notes, 5.050% due 3/15/42			2,337,859
			Wells Fargo & Co., Junior Subordinated Notes:
		1,290,000	3.900% (5-Year CMT Index + 3.453%)(d)(f)			1,143,585
		1,470,000	5.875%(d)(f)			1,457,138
		570,000	5.900%(d)(f)			564,100
		1,225,000	7.625% (5-Year CMT Index + 3.606%)(d)(f)			1,254,094

See Notes to Financial Statements.

169

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

Face Amount/Units†			Security	Value
CORPORATE BONDS & NOTES – (continued)
United States – (continued)
	$	234,000	XPO Inc., Senior Secured Notes, 6.250% due 6/1/28(c)		$	229,291
		3,452,000	Ziff Davis Inc., Company Guaranteed Notes, 4.625% due 10/15/30(c)			2,969,180
			Total United States			183,364,939
			TOTAL CORPORATE BONDS & NOTES (Cost – $622,171,142)			582,582,174
SENIOR LOANS(d) – 7.1%
			American Greetings Corp.:
		1,739,640	10.131% (3-Month USD-LIBOR + 4.500%) due 4/6/24(a)			1,736,926
		2,024,825	11.331% (1-Month USD-LIBOR + 6.000%) due 4/6/28			2,021,667
		9,306,427	Cengage Learning Inc., 10.323% (3-Month USD-LIBOR + 4.750%) due 7/14/26			9,272,551
		780,478	Chefs’ Warehouse Inc., 10.180% 1-Month USD-LIBOR + 4.750%) due 8/23/29			781,453
		6,192,556	Chobani LLC, 8.946% (1-Month USD-LIBOR + 3.500%) due 10/25/27			6,184,816
		1,373,566	Container Store Inc., 10.288% (3-Month USD-LIBOR + 4.750%) due 1/31/26			1,243,078
		2,842,460	Crocs Inc., 8.892% (3-Month USD-LIBOR + 3.500%) due 2/20/29			2,849,253
		1,747,844	Diebold Nixdorf Inc., due 8/11/28(i)			1,734,735
			Elevate Textiles Inc.:
		337,532	13.742% (3-Month USD-LIBOR + 8.500%) due 9/30/27			334,156
		920,223	13.146% (1-Month USD-LIBOR + 8.100%) due 9/30/27			736,179
			First Brands Group LLC:
		703,310	10.881% (6-Month USD-LIBOR + 5.000%) due 3/30/27			692,760
		6,606,639	14.381% (6-Month USD-LIBOR + 8.500%) due 3/30/28			6,157,916
		1,695,246	Fogo de Chao Inc., 9.696% (1-Month USD-LIBOR + 4.250%) due 4/7/25			1,692,517
		951,630	GemmaCert Ltd., 9.000% (6-Month USD-LIBOR + 9.000%) due 5/19/24(a)(b)			638,401
		3,372,835	Getty Images Inc., 9.842% (3-Month USD-LIBOR + 4.500%) due 2/19/26			3,372,835
		8,160,923	Inotiv Inc., 12.206% (6-Month USD-LIBOR + 6.750%) due 11/5/26			7,834,486
		997,455	Magnite Inc., 10.483% (1-Month USD-LIBOR + 5.000%) due 4/28/28			994,962
		9,071,851	Mountaineer Merger Corp., 12.634% (6-Month USD-LIBOR + 7.000%) due 10/26/28			7,227,272
		4,295,697	QuarterNorth Energy Holding Inc., 13.446% (1-Month USD-LIBOR + 8.000%) due 8/27/26			4,267,044
			TOTAL SENIOR LOANS (Cost – $61,157,629)			59,773,007
COLLATERALIZED MORTGAGE OBLIGATIONS – 2.3%
		1,800,352	BX, Series 2021-MFM1, Class D, 6.924% due 1/15/34(c)(d)			1,755,672
			BX Commercial Mortgage Trust:
		3,933,000	Series 2021-VOLT, Class C, 6.525%due 9/15/36(c)(d)			3,760,250
		219,946	Series 2021-VINO, Class C, 6.527%due 5/15/38(c)(d)			214,146
		1,515,157	Series 2021-SOAR, Class C, 6.525%due 6/15/38(c)(d)			1,488,800

See Notes to Financial Statements.

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August 31, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

Face Amount/Units†			Security	Value
COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)
	$	1,366,814	Series 2021-XL2, Class C, 6.622%due 10/15/38(c)(d)		$	1,327,365
		934,489	BX Trust, Series 2022-IND, Class B, 7.250% due 4/15/37(c)(d)			918,965
		3,363,000	CAMB Commercial Mortgage Trust, Series 2019-LIFE, Class D, 7.175% due 12/15/37(c)(d)			3,324,855
		871,831	Credit Suisse Mortgage Capital Certificates, Series 2019-ICE4, Class D, 6.958% due 5/15/36(c)(d)			865,891
		1,280,000	JP Morgan Chase Commercial Mortgage Securities Trust, Series 2021-MHC, Class B, 6.474% due 4/15/38(c)(d)			1,261,478
		1,169,000	MHC Commercial Mortgage Trust, Series 2021-MHC, Class D, 7.025% due 4/15/38(c)(d)			1,145,543
		1,131,373	MSCG Trust, Series 2018-SELF, Class D, 7.008% due 10/15/37(c)(d)			1,111,426
		1,920,000	SMRT, Series 2022-MINI, Class B, 6.661% due 1/15/39(c)(d)			1,862,196
			TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost – $18,940,036)			19,036,587
SOVEREIGN BONDS – 2.0%
Colombia – 0.6%
		4,900,000	Colombia Government International Bond, 4.500% due 1/28/26			4,708,448
Dominican Republic – 0.1%
		1,000,000	Dominican Republic International Bond, 5.500% due 1/27/25			988,882
Peru – 0.2%
		1,815,000	Corp. Financiera de Desarrollo SA, 5.250% due 7/15/29(d)			1,767,378
Saudi Arabia – 0.3%
		2,500,000	Saudi Government International Bond, 3.250% due 10/26/26			2,359,890
South Africa – 0.6%
			Republic of South Africa Government International Bond:
		3,200,000	4.665% due 1/17/24			3,168,384
		1,600,000	4.875% due 4/14/26			1,539,424
			Total South Africa			4,707,808
South Korea – 0.2%
		200,000	Korea Development Bank, 1.000% due 9/9/26			175,811
		1,900,000	Korea Electric Power Corp., 1.125% due 6/15/25(c)			1,760,255
			Total South Korea			1,936,066
Ukraine – 0.0%
		1,800,000	Ukraine Government International Bond, 9.750% due 11/1/30			526,306
			TOTAL SOVEREIGN BONDS (Cost – $18,351,448)			16,994,778

See Notes to Financial Statements.

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August 31, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

Shares/Units		Security	Value
EXCHANGE TRADED FUND (ETF) – 6.1%
United States – 6.1%
	1,486,171	Xtrackers USD High Yield Corporate Bond (Cost – $51,025,081)		$	51,421,517
PREFERRED STOCKS – 3.1%
Bermuda – 0.4%
		Aspen Insurance Holdings Ltd.:
	49,296	5.625%(f)			939,582
	6,550	9.593%(d)(f)			168,662
		Athene Holding Ltd.:
	25,555	6.350% (3-Month USD-LIBOR + 4.253%)(d)(f)			564,510
	22,269	6.375% (5-Year CMT Index + 5.970%)(d)(f)			543,364
	10,445	Axis Capital Holdings Ltd., 5.500%(f)			206,184
	30,038	Enstar Group Ltd., 7.000% (3-Month USD-LIBOR + 4.015%)(d)(f)			705,893
		Total Bermuda			3,128,195
United Kingdom – 0.0%
	4,046	Argo Blockchain PLC, 8.750%			27,311
United States – 2.7%
	4,850	AgriBank FCB, 6.875% (3-Month USD-LIBOR + 4.225%)(d)(f)			485,485
	18,819	Air Lease Corp., 6.150% (3-Month TSFR + 3.912%)(d)(f)			449,774
		American Equity Investment Life Holding Co.:
	26,165	5.950% (5-Year CMT Index + 4.322%)(d)(f)			549,203
	60,435	6.625% (5-Year CMT Index + 6.297%)(d)(f)			1,408,136
	8,130	Assurant Inc., 5.250%			162,275
	21,565	AT&T Inc., 4.750%(f)			417,930
	11,890	Capital One Financial Corp., 5.000%(f)			224,959
	2,850	CoBank ACB, 6.200% (3-Month USD-LIBOR + 3.744%)(d)(f)			273,628
	1,000	Dairy Farmers of America Inc., 7.875%(a)(c)(f)			93,000
	2,600	Energy Transfer LP, 7.600% (3-Month USD-LIBOR + 5.161%)(d)(f)			64,558
	18,271	Equitable Holdings Inc., 5.250%(f)			364,141
	11,970	Farm Credit Bank of Texas, 6.750% (3-Month USD-LIBOR + 4.010%)(c)(d)(f)			1,199,441
	9,075	Fifth Third Bancorp, 6.625% (3-Month TSFR + 3.972%)(d)(f)			230,324
	208,194	Fossil Group Inc., 7.000%			3,539,298
	14,220	Goldman Sachs Group Inc., 9.267% (3-Month TSFR + 3.902%)(d)(f)			357,917
		KeyCorp:
	26,085	6.125% (3-Month USD-LIBOR + 3.892%)(d)(f)(j)			556,654
	29,270	6.200% (5-Year CMT Index + 3.132%)(d)(f)			586,863
		Morgan Stanley:
	49,425	5.850% (3-Month USD-LIBOR + 3.491%)(d)(f)			1,176,809
	30,000	6.375% (3-Month USD-LIBOR + 3.708%)(d)(f)			747,900

See Notes to Financial Statements.

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

Shares/Units		Security	Value
PREFERRED STOCKS – (continued)
United States – (continued)
	24,480	6.500%(f)		$	634,032
	27,998	New York Community Bancorp Inc., 6.375% (3-Month USD-LIBOR + 3.821%)(d)(f)			642,274
	67,935	NGL Energy Partners LP, 12.783% (3-Month USD-LIBOR + 7.213%)*(d)(f)			1,698,375
	7,100	NiSource Inc., 6.500% (5-Year CMT Index + 3.632%)(d)(f)			176,790
		NuStar Energy LP:
	35,146	11.151% (3-Month USD-LIBOR + 5.643%)(d)(f)			927,854
	21,505	12.274% (3-Month USD-LIBOR + 6.766%)(d)(f)			550,528
	17,500	NuStar Logistics LP, 12.304% (3-Month TSFR + 6.996%)(d)			468,475
	28,836	Regions Financial Corp., 5.700% (3-Month USD-LIBOR + 3.148%)(d)(f)			589,696
		Reinsurance Group of America Inc.:
	15,000	5.750% (3-Month USD-LIBOR + 4.040%)(d)			370,350
	14,425	7.125% (5-Year CMT Index + 3.456%(d)			375,050
	43,599	Saratoga Investment Corp., 6.000%			1,022,397
	12,635	Selective Insurance Group Inc., 4.600%(f)			208,478
	25,945	Synchrony Financial, 5.625%(f)			423,682
	13,953	Synovus Financial Corp., 5.875% (5-Year CMT Index + 4.127%)(d)(f)			298,176
	30,380	Voya Financial Inc., 5.350% (5-Year CMT Index + 3.210%)(d)(f)			716,968
	7,160	Western Alliance Bancorp, 4.250% (5-Year CMT Index + 3.452%)(d)(f)			112,698
	18,366	Wintrust Financial Corp., 6.875% (5-Year CMT Index + 6.507%)(d)(f)			430,315
		Total United States			22,534,433
		TOTAL PREFERRED STOCKS (Cost – $27,889,018)			25,689,939
COMMON STOCKS – 1.2%
United States – 1.2%
	15,560	Alpha Partners Technology*(a)(b)			811
	7,000	AxonPrime Infrastructure Acquisition Corp.*(b)			—
	22,982	Berenson Acquisition Corp. I*(b)			—
	228,050	Bitcoin Depot Inc.*(j)			633,979
	183,721	CTO Realty Growth Inc.(j)			3,237,164
	29,281	Elevate Textiles Holding Corp.*(a)			95,163
	34,967	KORE Group Holdings Inc.*			24,827
	5,813	QuarterNorth Energy Inc.*(a)(b)			685,934
	57	Real Alloy Holding Inc.*(a)(b)			3,376,768
	10,650	Revelstone Capital Acquisition Corp.*(a)(b)			1,137
	56,900	Verizon Communications Inc.			1,990,362
		Total United States			10,046,145
		TOTAL COMMON STOCKS (Cost – $9,416,489)			10,046,145

See Notes to Financial Statements.

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August 31, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

Shares/Units		Security	Value
EQUITY LINKED NOTES – 0.0%
United States – 0.0%
	21,346	Legato Merger Corp.*(a)(b)		$	145,580
	35,964	Parabellum Acquisition Corp.*(b)			—
		Total United States			145,580
		TOTAL EQUITY LINKED NOTES (Cost – $67)			145,580
WARRANTS – 0.0%
Bermuda – 0.0%
	558,670	McDermott International Ltd.*(a)(b)			—
	502,803	WT PUR COM*(a)(b)			—
		Total Bermuda			—
Brazil – 0.0%
	58,463	OAS SA*(a)(b)			—
Canada – 0.0%
	29,147,860	Tacora Resources Inc.*(b)			—
Israel – 0.0%
	41,956	GemmaCert Ltd.*(a)(b)			—
United Kingdom – 0.0%
	57,514	Financials Acquisition Corp.*(a)			2,185
United States – 0.0%
	36,249	Leafly Holdings Inc.*(a)			1,486
	309,502	ProSomnus Inc.*(a)			9,657
		Total United States			11,143
		TOTAL WARRANTS (Cost – $364,008)			13,328

Number of
Contracts

Notional
Amounts

Security

Value

PURCHASED OPTION – 0.0%

Index Option – 0.0%

569

$4,283,432

iShares iBoxx HighYield, Put, @ $73.00, expires 09/15/2023,
Counterparty: RJA

2,845

TOTAL PURCHASED OPTION
(Cost – $27,903)

2,845

TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS
(Cost – $809,342,821)

765,705,900

See Notes to Financial Statements.

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

Face Amount†			Security	Value
SHORT-TERM INVESTMENTS – 8.6%
COMMERCIAL PAPERS – 5.6%
			Arrow Electronics Inc.:
	$	5,320,000	5.823% due 9/12/23(k)		$	5,309,729
		3,440,000	5.767% due 9/18/23(k)			3,429,881
		4,742,000	Canadian Natural Resources Ltd., 6.170% due 9/25/23(k)			4,722,271
		6,444,000	Conagra Brands Inc., 5.826% due 9/8/23(k)			6,435,760
		7,107,000	Crown Castle Inc., 6.096% due 9/7/23(k)			7,099,054
		5,928,000	Glencore Funding LLC, 5.835% due 10/17/23(k)			5,883,901
		6,910,000	Parker-Hannifin Corp., 5.575% due 10/17/23(k)			6,858,966
		6,928,000	Walgreens Boots Alliance Inc., 6.113% due 10/13/23(k)			6,878,317
			TOTAL COMMERCIAL PAPERS (Cost – $46,625,078)			46,617,879
CORPORATE NOTE – 0.2%
		1,551,869	Tacora Resources Inc., 13.000% due 9/8/23(a)(b)(c)(g) (Cost – $1,544,519)			1,551,869
TIME DEPOSITS – 2.8%
		18,071,400	ANZ National Bank – London, 4.680% due 9/1/23			18,071,400
		3,106,074	Citibank – New York, 4.680% due 9/1/23			3,106,074
		1,786,079	JPMorgan Chase & Co. – New York, 4.680% due 9/1/23			1,786,079
		690,762	Sumitomo Mitsui Banking Corp. – Tokyo, 4.680% due 9/1/23			690,762
			TOTAL TIME DEPOSITS (Cost – $23,654,315)			23,654,315
			TOTAL SHORT-TERM INVESTMENTS (Cost – $71,823,912)			71,824,063

Shares/Units		Security	Value
INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 0.1%
MONEY MARKET FUND – 0.1%
	843,675	Federated Government Obligations Fund, Premier Class, 5.165%(l) (Cost – $843,675)			843,675
		TOTAL INVESTMENTS – 100.2% (Cost – $882,010,408)			838,373,638
		Liabilities in Excess of Other Assets – (0.2)%			(2,083,237)
		TOTAL NET ASSETS – 100.0%		$	836,290,401

†

Face amount denominated in U.S. dollars, unless otherwise noted.

Non-income producing security.

(a)

Illiquid security. The aggregate value of illiquid holdings at August 31, 2023, amounts to $40,195,257 and represents 4.81% of net assets.

(b)

Security is valued in good faith at fair value by or under the direction of the Board of Trustees using significant unobservable inputs.

See Notes to Financial Statements.

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Destinations Global Fixed Income Opportunities Fund (continued)

(c)

(d)

Variable rate security. Interest rate disclosed is that which was in effect at August 31, 2023.

(e)

Security is currently in default.

(f)

Security is perpetual in nature and has no stated maturity date.

(g)

Payment in-kind security for which part of the income earned may be paid as additional principal.

(h)

All or a portion of this security is pledged by the Fund as collateral for short sales or derivative transactions.

(i)

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.

(j)

All or a portion of this security is on loan (See Note 5).

(k)

Rate shown represents yield-to-maturity.

(l)

Represents investment of collateral received from securities lending transactions.

Abbreviations used in this schedule:

CMT

—

Constant Maturity Treasury Index

ETF

—

Exchange Traded Fund

EURIBOR

—

Euro Interbank Offered Rate

ICE

—

Intercontinental Exchange

LIBOR

—

London Interbank Offered Rate

LLC

—

Limited Liability Company

—

Limited Partnership

NIBOR

—

Norwegian Interbank Offered Rate

PLC

—

Public Limited Company

SOFR

—

Secured Overnight Financing Rate

STIBOR

—

Stockholm Interbank Offered Rate

TSFR

—

CME Term SOFR Reference Rate

Summary of Investments by Security Type^

	Corporate Bonds & Notes					69.5%
	Senior Loans					7.1
	Exchange Traded Fund (ETF)					6.1
	Preferred Stocks					3.1
	Collateralized Mortgage Obligations					2.3
	Sovereign Bonds					2.0
	Common Stocks					1.2
	Warrants					0.0*
	Equity Linked Notes					0.0*
	Purchased Options					0.0*
	Short-Term Investments					8.6
	Money Market Fund					0.1
						100.0%

See Notes to Financial Statements.

176

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

As a percentage of total investments.

Positions represent less than 0.05%

Schedule of Options Contracts Written
Equity Options

Number of Contracts	Notional Amount			Security Name	Counterparty		Expiration Date		Exercise Rate			Value
495		$	3,726,360	iShares iBoxx HighYield, Call		RJA		10/20/23		$	75.00		$	(34,650)
187			1,860,463	MasTec Inc., Call		RJA		12/15/23		$	115.00			(40,205)
142			436,792	NCR Corp., Put		RJA		1/19/24		$	24.00			(8,236)
142			436,792	NCR Corp., Call		RJA		1/19/24		$	30.00			(40,328)
251			877,998	Verizon Communications Inc., Put		RJA		9/15/23		$	33.00			(1,506)
285			996,930	Verizon Communications Inc., Call		RJA		9/15/23		$	34.00			(34,200)
284			993,432	Verizon Communications Inc., Call		RJA		10/20/23		$	35.00			(24,140)
148			194,472	Warner Bros Discovery Inc., Put		BOA		9/15/23		$	12.50			(2,516)
				TOTAL OPTIONS CONTRACTS WRITTEN
				(Premiums received – $150,066)									$	(185,781)

At August 31, 2023, Destinations Global Fixed Income Opportunities Fund had open forward foreign currency contracts as described below.

The unrealized appreciation/(depreciation) on the open contracts reflected in the accompanying financial statements were as follows:

Foreign Currency	Local Currency		Counterparty		Market Value			Settlement Date		Unrealized Appreciation			Unrealized (Depreciation)			Unrealized Appreciation/ (Depreciation)
Contracts to Buy:
Swedish Krona		2,610,000		BBH		$	238,515		9/15/23		$	1,293		$	—		$	1,293
Contracts to Sell:
Euro		25,557,805		BBH			27,725,315		9/15/23			375,364			—			375,364
Norwegian Krone		48,670,000		BBH			4,579,676		9/15/23			103,554			—			103,554
Swedish Krona		38,100,000		BBH			3,481,768		9/15/23			49,021			—			49,021
Swedish Krona		4,960,000		BBH			453,270		9/15/23			—			(2,824)			(2,824)
											$	527,939		$	(2,824)		$	525,115
Net Unrealized Appreciation on Open Forward Foreign Currency Contracts											$	529,232		$	(2,824)		$	526,408

Currency Abbreviations used in this schedule: EUR

—
Euro

GBP

—

British Pound

NOK

—

Norwegian Krone

SEK

—

Swedish Krona

Counterparty Abbreviations used in this schedule:

BBH

—

Brown Brothers Harriman & Co.

BOA

—

Bank of America Corp.

RJA

—

Raymond James &Associates

See Notes to Financial Statements.

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (concluded)

Face Amount†			Security	Value
SECURITIES SOLD SHORT – 0.3%
CORPORATE BONDS & NOTES – 0.3%
Consumer Non-cyclical – 0.2%
	$	1,138,000	Johnson & Johnson, Senior Unsecured Notes, 4.950% due 5/15/33		$	1,181,916
Industrial – 0.1%
		1,138,000	Likewize Corp., Senior Secured Notes, 9.750% due 10/15/25(a)			1,115,292
			TOTAL CORPORATE BONDS & NOTES (Proceeds – $2,300,251)			2,297,208
			TOTAL SECURITIES SOLD SHORT – 0.3% (Proceeds – $2,300,251)			2,297,208

†

Face amount denominated in U.S. dollars, unless otherwise noted.

(a)

Restricted security that may be repurchased from “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 August 31, 2023, amounts to $1,115,292 and represents 0.13% of net assets.

See Notes to Financial Statements.

178

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – 91.3%
Alabama – 1.7%
	$	3,000,000	BBB	County of Jefferson AL Sewer Revenue, Revenue Bonds, Series D, 6.500% due 10/1/53		$	3,153,190
		1,000,000	A1(a)	Health Care Authority of the City of Huntsville, Revenue Bonds, Series A, 5.000% due 6/1/53(b)(c)			1,073,252
		2,500,000	BB-	Hoover Industrial Development Board, Revenue Bonds, 5.750% due 10/1/49(d)			2,520,235
		2,540,000	A2(a)	Lower Alabama Gas District, Revenue Bonds, 4.000% due 12/1/50(b)			2,505,577
				Mobile County Board of School Commissioners, Special Tax:
		260,000	A	5.000% due 3/1/28			268,544
		175,000	A	5.000% due 3/1/29			180,794
		180,000	A	5.000% due 3/1/30			186,010
		185,000	A	5.000% due 3/1/31			191,246
		145,000	A	5.000% due 3/1/32			149,888
		215,000	A	5.000% due 3/1/33			222,180
		3,500,000	A1(a)	Southeast Alabama Gas Supply District, Revenue Bonds, Series A, 4.000% due 6/1/49(b)			3,484,796
		500,000	B-	Sumter County Industrial Development Authority, Revenue Bonds, 6.000% due 7/15/52(b)(d)			359,741
		1,500,000	NR	Tuscaloosa County Industrial Development Authority, Revenue Bonds, Series A, 5.250% due 5/1/44(e)			1,357,798
				Total Alabama			15,653,251
Alaska – 0.1%
		1,000,000	AA+	Alaska Housing Finance Corp., Revenue Bonds, Series A, 5.000% due 6/1/30			1,056,997
		215,000	AA-	State of Alaska, GO, Series A, 5.000% due 8/1/33			220,041
				Total Alaska			1,277,038
Arizona – 2.9%
		5,000,000	AA+	Arizona Department of Transportation State Highway Fund Revenue, Revenue Bonds, 5.000% due 7/1/27			5,250,214
		1,695,000	BB-	Arizona Industrial Development Authority, Revenue Bonds, 5.000% due 7/1/49(e)			1,497,989
		2,000,000	AA	Arizona State University, Revenue Bonds, Series A, 5.000% due 7/1/39			2,131,798
				City of Glendale AZ, Revenue Bonds:
		230,000	AA+	Series A, 5.000% due 7/1/27			236,830
		215,000	AA+	Series A, 5.000% due 7/1/28			221,462
		235,000	AA+	Series A, 5.000% due 7/1/29			242,063
		85,000	AA+	City of Glendale AZ Excise Tax Revenue, Revenue Bonds, Series A, 5.000% due 7/1/32			90,218

See Notes to Financial Statements.

179

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Arizona – (continued)
				City of Glendale AZ Transportation Excise Tax Revenue, Revenue Bonds:
	$	55,000	AA+	5.000% due 7/1/24		$	55,769
		105,000	AA+	5.000% due 7/1/26			108,118
				City of Phoenix Civic Improvement Corp., Revenue Bonds:
		65,000	AA-	Series A, 5.000% due 7/1/27(d)			68,120
		90,000	AA-	Series A, 5.000% due 7/1/28(d)			93,826
		6,365,000	AAA	Series B, 4.000% due 7/1/29			6,372,659
				Maricopa County Industrial Development Authority, Revenue Bonds:
		1,000,000	BB+	4.000% due 10/15/47(d)(e)			832,517
		200,000	A2(a)	5.000% due 7/1/47			206,735
		190,000	AA-	Series A, 4.000% due 1/1/24			190,316
		60,000	AA-	Series A, 5.000% due 1/1/24			60,290
		225,000	AA-	Series A, 5.000% due 1/1/25			229,381
		735,000	A2(a)	Series B, 5.000% due 9/1/45(b)			743,191
		290,000	AA-	Series C, 5.000% due 1/1/48(b)			294,465
		800,000	AA-	Series D, 5.000% due 1/1/46(b)			828,572
		2,000,000	A-	Maricopa County Pollution Control Corp., Revenue Bonds, 2.400% due 6/1/35			1,546,865
		3,000,000	AA+	Salt River Project Agricultural Improvement & Power District, Revenue Bonds, Series A, 4.000% due 12/1/33			3,018,791
		1,000,000	NR	Sierra Vista Industrial Development Authority, Revenue Bonds, 5.750% due 6/15/58(e)			959,340
				State of Arizona, COP:
		300,000	AA-	Series A, 5.000% due 10/1/23			300,293
		310,000	AA-	Series A, 5.000% due 10/1/24			314,698
				Total Arizona			25,894,520
Arkansas – 0.3%
				Arkansas Development Finance Authority, Revenue Bonds:
		2,000,000	BB-	4.500% due 9/1/49(d)(e)			1,849,928
		1,150,000	BB-	5.700% due 5/1/53(d)			1,152,728
				Total Arkansas			3,002,656
California – 2.6%
		205,000	AA	Bay Area Toll Authority, Revenue Bonds, Series B, 2.850% due 4/1/47(b)			201,993
		1,845,000	NR	California Community Housing Agency, Revenue Bonds, 4.000% due 2/1/50(e)			1,370,795
		115,000	A	California Health Facilities Financing Authority, Revenue Bonds, Series A, 5.000% due 7/1/25			115,114

See Notes to Financial Statements.

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August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
California – (continued)
	$	3,000,000	BB-	California Municipal Finance Authority, Revenue Bonds, 4.000% due 7/15/29(d)		$	2,958,262
		2,525,000	BB	California Statewide Communities Development Authority, Revenue Bonds, 5.500% due 12/1/54			2,517,142
				City of Los Angeles Department of Airports, Revenue Bonds:
		650,000	AA-	4.000% due 5/15/38(d)			636,867
		675,000	AA-	4.000% due 5/15/39(d)			655,784
		650,000	AA-	4.000% due 5/15/40(d)			626,337
		1,000,000	NR	CMFA Special Finance Agency, Revenue Bonds, Series A, 4.000% due 12/1/45(e)			773,484
				CSCDA Community Improvement Authority, Revenue Bonds:
		3,000,000	NR	3.000% due 6/1/47(e)			2,099,435
		1,000,000	NR	3.000% due 12/1/56(e)			654,835
		1,000,000	NR	4.000% due 8/1/56(e)			734,589
				Golden State Tobacco Securitization Corp., Revenue Bonds:
		175,000	A+	Series A, zero coupon, due 6/1/24			170,907
		115,000	NR	Series A1, 5.000% due 6/1/25			118,731
		30,000	NR	Series A1, 5.000% due 6/1/26			31,598
		5,000,000	NR	Series B2, zero coupon, due 6/1/66			495,153
		290,000	AA-	Los Angeles Department of Water & Power, Revenue Bonds, Series A, 5.000% due 7/1/29			297,529
				Oakland Unified School District, GO:
		100,000	AA	5.000% due 8/1/26			103,501
		30,000	A-	Series A, 5.000% due 8/1/28			31,021
		90,000	A	Sacramento City Financing Authority, Special Tax, Series A, NPFG, zero coupon, due 12/1/26			79,785
		185,000	A+	San Francisco City & County Airport Comm-San Francisco International Airport, Revenue Bonds, Series A, 5.000% due 5/1/37(d)			193,976
		1,800,000	AAA	San Jose Financing Authority, Revenue Bonds, Series B, 5.000% due 11/1/42			1,992,882
		400,000	AA+	Santa Clara County Financing Authority, Revenue Bonds, Series A, 3.000% due 5/1/39			335,716
				State of California, GO:
		760,000	AA-	4.000% due 3/1/26			777,438
		80,000	AA-	5.000% due 9/1/29			84,511
		4,100,000	AA-	5.000% due 3/1/31			4,208,855
		435,000	AA-	Series B, 5.000% due 8/1/26			459,216
		205,000	AA-	Series C, 5.000% due 8/1/29			216,241

See Notes to Financial Statements.

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
California – (continued)
	$	100,000	A2(a)	Washington Township Health Care District, GO, Series A, 5.500% due 8/1/40		$	101,519
				Total California			23,043,216
Colorado – 3.3%
		2,000,000	AA	Board of Governors of Colorado State University System, Revenue Bonds, Series C, 4.000% due 3/1/38			1,965,201
				City & County of Denver CO Airport System Revenue, Revenue Bonds:
		65,000	AA-	Series A, 5.000% due 11/15/24(d)			65,834
		315,000	A+	Series A, 5.000% due 12/1/26(d)			325,863
		30,000	AA-	Series A, 5.000% due 11/15/27(d)			31,538
		2,695,000	AA-	Series A, 5.000% due 11/15/28(d)			2,862,440
		145,000	AA-	Series A, 5.000% due 11/15/29(d)			151,795
		115,000	AA-	Series A, 5.000% due 11/15/30(d)			120,413
		3,400,000	AA-	Series D, 5.500% due 11/15/30(d)			3,800,417
				Colorado Health Facilities Authority, Revenue Bonds:
		1,555,000	AA	5.000% due 11/15/36(b)			1,559,907
		190,000	Baa1(a)	5.000% due 9/1/46			190,401
		580,000	AA	5.000% due 11/15/49(b)			605,087
		2,000,000	A-	5.250% due 11/1/52			2,037,744
		500,000	A-	Series A, 5.000% due 8/1/44			510,463
		325,000	A-	Series B2, 5.000% due 8/1/49(b)			332,761
		560,000	NR	Series Prerefunded 11/15/23 @ 100, 5.000% due 11/15/36(b)(f)			561,767
		60,000	NR	Series Prerefunded 11/19/26 @ 100, 5.000% due 11/15/49(b)(f)			63,461
		70,000	AA	Colorado Housing & Finance Authority, Revenue Bonds, Series H, 4.250% due 11/1/49			69,505
		3,000,000	Aa2(a)	Gunnison Watershed School District No Re 1J, GO, 5.000% due 12/1/47			3,226,538
		2,000,000	AAA	Regional Transportation District Sales Tax Revenue, Revenue Bonds, Series A, 0.900% due 11/1/26			1,769,941
				State of Colorado, COP:
		2,250,000	AA-	Series A, 4.000% due 12/15/36			2,259,276
		3,775,000	AA-	Series A, 4.000% due 12/15/39			3,730,386
		1,435,000	Aa1(a)	University of Colorado, Revenue Bonds, Series C, 2.000% due 6/1/54(b)			1,400,724
				Vauxmont Metropolitan District, GO:
		125,000	AA	5.000% due 12/15/27			131,111
		120,000	AA	5.000% due 12/15/29			125,835
		135,000	AA	5.000% due 12/15/31			141,547
		285,000	AA	5.000% due 12/1/34			307,408

See Notes to Financial Statements.

182

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Colorado – (continued)
	$	1,750,000	NR	Village Metropolitan District, GO, 5.000% due 12/1/49		$	1,606,615
				Total Colorado			29,953,978
Connecticut – 1.1%
				Connecticut State Health & Educational Facilities Authority, Revenue Bonds:
		505,000	AA-	Series B, 1.800% due 7/1/49(b)			494,155
		65,000	A	Series S, 5.000% due 7/1/26			67,654
		30,000	A	Series S, 5.000% due 7/1/29			32,065
				State of Connecticut, GO:
		90,000	AA-	Series A, 5.000% due 3/15/26			93,903
		375,000	AA-	Series A, 5.000% due 4/15/26			391,889
		150,000	AA-	Series A, 5.000% due 4/15/30			165,118
		170,000	AA-	Series A, 5.000% due 4/15/34			185,606
		60,000	AA-	Series A, 5.000% due 4/15/35			65,155
		175,000	AA-	Series B, 5.000% due 1/15/26			182,004
		2,100,000	AA-	Series D, 5.000% due 7/15/25			2,165,445
		100,000	AA-	Series E, 5.000% due 10/15/26			105,533
		150,000	AA-	Series E, 5.000% due 10/15/29			157,771
				State of Connecticut Special Tax Revenue, Revenue Bonds:
		2,425,000	AA	Series A, 5.000% due 7/1/39			2,671,990
		2,500,000	AA	Series A, 5.250% due 7/1/43			2,769,854
		330,000	AA-	University of Connecticut, Revenue Bonds, Series A, 5.000% due 11/1/27			354,235
				Total Connecticut			9,902,377
Delaware – 0.4%
				Delaware River & Bay Authority, Revenue Bonds:
		35,000	A	Series C, 5.000% due 1/1/24			35,168
		80,000	A	Series C, 5.000% due 1/1/25			80,393
		3,160,000	NR	State of Delaware, GO, Series B, Prerefunded 7/1/24 @ 100, 5.000% due 7/1/27(f)			3,204,194
				Total Delaware			3,319,755
District of Columbia – 1.5%
				District of Columbia, GO:
		1,500,000	AA+	Series A, 5.000% due 6/1/34			1,534,381
		2,000,000	AA+	Series C, 5.000% due 6/1/34			2,022,193
		2,500,000	AA+	District of Columbia Water & Sewer Authority, Revenue Bonds, Series C, 5.000% due 10/1/27			2,540,706

See Notes to Financial Statements.

183

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
District of Columbia – (continued)
				Metropolitan Washington Airports Authority Aviation Revenue, Revenue Bonds:
	$	75,000	AA-	Series A, 5.000% due 10/1/23(d)		$	75,065
		2,625,000	AA-	Series A, 5.000% due 10/1/24(d)			2,657,321
		115,000	AA-	Series A, 5.000% due 10/1/28(d)			122,123
		95,000	AA-	Series A, 5.000% due 10/1/30(d)			100,406
		205,000	AA-	Series A, 5.000% due 10/1/31(d)			215,871
		60,000	AA-	Series A, 5.000% due 10/1/34(d)			62,587
		55,000	AA-	Series A, 5.000% due 10/1/36(d)			56,775
		400,000	A-	Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Revenue Bonds, Series B, 4.000% due 10/1/35			402,825
		240,000	AA-	Washington Metropolitan Area Transit Authority, Revenue Bonds, Series B, 5.000% due 7/1/34			252,654
				Washington Metropolitan Area Transit Authority Dedicated Revenue, Revenue Bonds:
		1,250,000	AA	5.000% due 7/15/36			1,392,957
		1,000,000	AA	5.000% due 7/15/37			1,117,986
		1,000,000	AA	5.000% due 7/15/38			1,108,729
				Total District of Columbia			13,662,579
Florida – 6.5%
				Brevard County School District, COP:
		95,000	Aa3(a)	5.000% due 7/1/27			96,043
		215,000	Aa3(a)	5.000% due 7/1/30			216,942
		85,000	Aa3(a)	Series C, 5.000% due 7/1/24			86,050
				Capital Trust Agency Inc., Revenue Bonds:
		500,000	BB	6.375% due 5/1/53(e)			486,969
		450,000	NR	Series A1, 4.000% due 6/15/29(e)			422,675
		2,000,000	NR	Series A1, 5.000% due 7/1/56(e)			1,759,863
		1,500,000	NR	Celebration Pointe Community Development District No 1, Special Assessment, 4.000% due 5/1/53			1,169,017
				County of Broward FL Airport System Revenue, Revenue Bonds:
		60,000	A+	5.000% due 10/1/30(d)			62,653
		90,000	A+	5.000% due 10/1/31(d)			94,022
		120,000	A+	Series A, 5.000% due 10/1/29(d)			121,950
		85,000	A+	Series A, 5.000% due 10/1/31(d)			86,057
		115,000	A+	Series A, 5.000% due 10/1/32(d)			116,298
		1,000,000	A+	Series B, 5.000% due 10/1/29(d)			1,064,954
		90,000	A+	Series Q1, 5.000% due 10/1/23			90,075

See Notes to Financial Statements.

184

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Florida – (continued)
				County of Hillsborough FL Solid Waste & Resource Recovery Revenue, Revenue Bonds:
	$	60,000	AA+	Series A, 5.000% due 9/1/23(d)		$	60,000
		65,000	AA+	Series A, 5.000% due 9/1/24(d)			65,636
		65,000	AA+	Series A, 5.000% due 9/1/26(d)			67,180
				County of Miami-Dade FL, Revenue Bonds:
		160,000	A+	5.000% due 10/1/28			166,945
		120,000	A+	5.000% due 10/1/29			124,641
		215,000	A+	5.000% due 10/1/30			223,061
		120,000	AA	County of Miami-Dade FL, GO, Series A, 5.000% due 11/1/23			120,293
				County of Miami-Dade FL Aviation Revenue, Revenue Bonds:
		290,000	A	Series A, 5.000% due 10/1/24(d)			290,333
		55,000	A	Series A, 5.000% due 10/1/27(d)			55,445
		80,000	A	Series A, 5.000% due 10/1/29(d)			80,668
		70,000	A	Series A, 5.000% due 10/1/30			72,873
		30,000	A	Series A, 5.000% due 10/1/31			31,242
		160,000	A	Series A, 5.000% due 10/1/33(d)			160,919
		5,000,000	A	Series A, 5.000% due 10/1/34(d)			5,025,961
		70,000	A	Series A, 5.000% due 10/1/35(d)			70,260
		65,000	A	Series B, 5.000% due 10/1/24			65,057
		215,000	A	Series B, 5.000% due 10/1/37			216,524
		500,000	A	Series B, 5.000% due 10/1/40(d)			509,235
		10,000,000	AA-	County of Miami-Dade FL Water & Sewer System Revenue, Revenue Bonds, Series B, 5.000% due 10/1/44			10,340,249
				County of Miami-Dade Seaport Department, Revenue Bonds:
		2,430,000	A3(a)	Series A, 5.000% due 10/1/32(d)			2,643,700
		1,250,000	A3(a)	Series A, 5.000% due 10/1/47(d)			1,270,085
				Duval County Public Schools, COP:
		125,000	A+	Series B, 5.000% due 7/1/27			128,295
		30,000	A+	Series B, 5.000% due 7/1/28			30,780
		190,000	A+	Series B, 5.000% due 7/1/30			194,772
		1,125,000	NR	Florida Development Finance Corp., Revenue Bonds, 6.125% due 7/1/32(b)(d)(e)			1,127,449
		1,600,000	NR	Florida Higher Educational Facilities Financial Authority, Revenue Bonds, 5.000% due 6/1/48(e)			1,406,162
		2,000,000	A	Florida Insurance Assistance Interlocal Agency Inc., Revenue Bonds, Series A1, 5.000% due 9/1/25			2,039,376

See Notes to Financial Statements.

185

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Florida – (continued)
				Florida Municipal Power Agency, Revenue Bonds:
	$	30,000	A2(a)	5.000% due 10/1/24		$	30,490
		45,000	A2(a)	5.000% due 10/1/27			46,327
		55,000	A2(a)	Series A, 5.000% due 10/1/30			57,338
		60,000	A2(a)	Series A, 5.000% due 10/1/31			62,409
				Greater Orlando Aviation Authority, Revenue Bonds:
		1,000,000	NR	5.000% due 11/15/36(d)			989,460
		100,000	A+	Series A, Prerefunded 10/1/27 @ 100, 5.000% due 10/1/28(d)(f)			105,653
		60,000	A+	Series A, Prerefunded 10/1/27 @ 100, 5.000% due 10/1/30(d)(f)			63,392
				Halifax Hospital Medical Center, Revenue Bonds:
		35,000	A-	Series Prerefunded 6/1/25 @ 100, 5.000% due 6/1/28(f)			35,985
		70,000	A-	Series Prerefunded 6/1/25 @ 100, 5.000% due 6/1/35(f)			71,971
				Hillsborough County Port District, Revenue Bonds:
		850,000	A(g)	Series B, 5.000% due 6/1/33(d)			894,576
		185,000	A(g)	Series B, 5.000% due 6/1/38(d)			189,009
		75,000	AA-	Indian River County District School Board, COP, Series A, 5.000% due 7/1/24			75,927
				JEA Electric System Revenue, Revenue Bonds:
		200,000	A	Series B, 5.000% due 10/1/26			210,011
		5,000,000	A+	Series C1, 4.000% due 10/1/34(b)			5,000,000
				Lake County School Board, COP:
		30,000	AA	Series A, Prerefunded 6/1/24 @ 100, 5.000% due 6/1/25(f)			30,289
		50,000	AA	Series A, Prerefunded 6/1/24 @ 100, 5.000% due 6/1/26(f)			50,482
		15,000	AA	Series A, Prerefunded 6/1/24 @ 100, 5.000% due 6/1/28(f)			15,145
				Lee Memorial Health System, Revenue Bonds:
		550,000	A+	Series A1, 5.000% due 4/1/33			587,021
		415,000	A+	Series A1, 5.000% due 4/1/35			441,107
		755,000	A+	Series A2, 5.000% due 4/1/33(b)			772,310
				Miami-Dade County Expressway Authority, Revenue Bonds:
		45,000	A	Series A, 5.000% due 7/1/31			46,369
		115,000	A	Series A, 5.000% due 7/1/32			118,436
		95,000	A	Series A, 5.000% due 7/1/33			97,710
		30,000	A	Series A, 5.000% due 7/1/34			30,783
		235,000	A	Series A, 5.000% due 7/1/40			235,050
		85,000	A	Series A, 5.000% due 7/1/44			83,135
		200,000	A+	Orange County Health Facilities Authority, Revenue Bonds, Series A, 5.000% due 10/1/39			204,190

See Notes to Financial Statements.

186

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units				Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Florida – (continued)
	$	200,000		Aa2(a)	Orange County School Board, COP, Series C, Prerefunded 8/1/25 @ 100, 5.000% due 8/1/29(f)		$	206,578
		50,000		AA	Orlando Utilities Commission, Revenue Bonds, Series A, 5.000% due 10/1/23			50,057
					Palm Beach County Health Facilities Authority, Revenue Bonds:
		10,000		WD(g)	5.000% due 12/1/23			10,039
		20,000		WD(g)	5.000% due 12/1/24			20,388
					Palm Beach County School District, COP:
		40,000		Aa3(a)	Series A, 5.000% due 8/1/24			40,527
		705,000		Aa3(a)	Series A, 5.000% due 8/1/26			739,432
		300,000		Aa3(a)	Series B, 5.000% due 8/1/26			308,148
		240,000		Aa3(a)	Series B, 5.000% due 8/1/27			246,296
		695,000		Aa3(a)	Series D, 5.000% due 8/1/26			713,877
		315,000		Aa3(a)	Series D, 5.000% due 8/1/27			323,263
		110,000		Aa3(a)	Series D, 5.000% due 8/1/28			112,804
		300,000		AA	Pasco County School Board, COP, Series D, AGM-Insured, 5.000% due 8/1/30			337,180
					School Board of Miami-Dade County, COP:
		120,000		AA	Series A, 5.000% due 5/1/27			122,807
		570,000		A+	Series A, 5.000% due 5/1/31			591,065
		220,000		A+	Series B, 5.000% due 8/1/27			229,832
		395,000		A+	Series B, 5.000% due 5/1/28			403,006
		340,000		A+	Series D, 5.000% due 11/1/24			346,259
		355,000		A+	Series D, 5.000% due 11/1/25			360,525
		230,000		A+	Series D, 5.000% due 11/1/26			233,501
		115,000		A+	Series D, 5.000% due 2/1/29			118,608
		190,000		A+	Series D, 5.000% due 2/1/30			195,829
					School District of Broward County, COP:
		330,000		A+	Series A, 5.000% due 7/1/26			338,269
		265,000		A+	Series A, 5.000% due 7/1/27			272,301
		115,000		A+	Series A, 5.000% due 7/1/28			117,698
		70,000		A+	Series A, 5.000% due 7/1/32			72,448
		335,000		A+	Series B, 5.000% due 7/1/26			343,394
		230,000		A+	Series B, 5.000% due 7/1/27			236,337
		390,000		A+	Series B, 5.000% due 7/1/28			399,079
		50,000	��	Aa3(a)	Seminole County School Board, COP, Series C, 5.000% due 7/1/24			50,598
		115,000		AA	South Florida Water Management District, COP, 5.000% due 10/1/30			119,489

See Notes to Financial Statements.

187

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Florida – (continued)
	$	75,000	AA-	South Miami Health Facilities Authority, Revenue Bonds, 5.000% due 8/15/24		$	76,033
				St Lucie County School Board, COP:
		60,000	A	Series A, 5.000% due 7/1/25			60,146
		125,000	A	Series A, 5.000% due 7/1/27			125,305
		5,995,000	AAA	State of Florida, GO, 5.000% due 7/1/32			6,554,637
		70,000	AA+	Tampa Bay Water, Revenue Bonds, Series A, NPFG, 6.000% due 10/1/29			81,927
				Volusia County Educational Facility Authority, Revenue Bonds:
		150,000	A2(a)	4.000% due 10/15/36			147,186
		80,000	A2(a)	5.000% due 10/15/44			82,687
		150,000	A2(a)	5.000% due 10/15/49			153,972
				Volusia County School Board, COP:
		600,000	Aa3(a)	5.000% due 8/1/24			607,912
		145,000	AA	Series A, 5.000% due 8/1/32			149,631
				Total Florida			58,704,354
Georgia – 2.2%
				City of Atlanta GA Water & Wastewater Revenue, Revenue Bonds:
		30,000	AA-	5.000% due 11/1/27			30,833
		70,000	AA-	5.000% due 11/1/29			72,024
		2,000,000	AA-	5.000% due 11/1/40			2,038,135
				Development Authority of Burke County, Revenue Bonds:
		600,000	BBB+	1.700% due 12/1/49(b)			580,872
		830,000	BBB+	2.925% due 11/1/53(b)			820,724
		1,000,000	Ba3(a)	Development Authority Of The City Of Marietta, Revenue Bonds, Series A, 5.000% due 11/1/37(e)			933,464
		155,000	AA-	Fulton County Development Authority, Revenue Bonds, 5.000% due 6/15/44			163,365
				Main Street Natural Gas Inc., Revenue Bonds:
		5,000,000	Aa1(a)	Series A, 4.000% due 4/1/48(b)			5,000,000
		840,000	Aa1(a)	Series C, 4.000% due 8/1/48(b)			839,697
		2,000,000	BBB-	Series C, 4.000% due 8/1/52(b)(e)			1,913,559
		1,500,000	Aa1(a)	Series C, 5.000% due 9/1/53(b)			1,557,129
				Municipal Electric Authority of Georgia, Revenue Bonds:
		160,000	A-	Series A, 5.000% due 1/1/27			166,712
		145,000	A-	Series A, 5.000% due 1/1/30			154,977
		105,000	A	Series GG, 5.000% due 1/1/24			105,077
		35,000	A	Series GG, 5.000% due 1/1/25			35,023
		145,000	A	Series GG, 5.000% due 1/1/26			145,100

See Notes to Financial Statements.

188

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Georgia – (continued)
	$	40,000	AA-	Municipal Gas Authority of Georgia, Revenue Bonds, Series U, 5.000% due 10/1/24		$	40,594
		5,000,000	AAA	State of Georgia, GO, Series A, 5.000% due 7/1/29			5,470,453
				Total Georgia			20,067,738
Hawaii – 1.1%
		2,500,000	Aa2(a)	City & County Honolulu HI Wastewater System Revenue, Revenue Bonds, Series A, 4.125% due 7/1/47			2,394,310
				City & County of Honolulu HI, GO:
		7,105,000	Aa2(a)	Series C, 4.000% due 10/1/32			7,231,539
		90,000	Aa2(a)	Series D, 5.000% due 9/1/26			94,760
		500,000	AA+	State of Hawaii, GO, Series FH, 5.000% due 10/1/28			527,059
				Total Hawaii			10,247,668
Idaho – 0.8%
		1,500,000	NR	Idaho Falls Auditorium District, COP, 5.250% due 5/15/51(e)			1,404,441
				Idaho Housing & Finance Association, Revenue Bonds:
		35,000	A2(a)	5.000% due 7/15/24			35,462
		95,000	A2(a)	5.000% due 7/15/27			101,206
		1,000,000	Aa1(a)	5.000% due 8/15/41			1,081,912
		1,000,000	Aa1(a)	5.000% due 8/15/42			1,073,197
		50,000	Aa1(a)	Series A, 4.000% due 1/1/50			49,346
		250,000	A2(a)	Series A, 5.000% due 7/15/30			277,842
		250,000	A2(a)	Series A, 5.000% due 7/15/31			281,709
		2,380,000	Aa1(a)	Kootenai County School District No 271 Coeur d’Alene, GO, 4.000% due 9/15/28			2,453,195
				Total Idaho			6,758,310
Illinois – 4.3%
				Chicago Board of Education, GO:
		1,040,000	BB+	Series A, 5.000% due 12/1/47			1,022,700
		2,500,000	BB+	Series E, 5.125% due 12/1/32			2,504,806
		2,075,000	AA	Chicago Board of Education Dedicated Capital Improvement Tax, Revenue Bonds, 5.750% due 4/1/48			2,263,930
				Chicago Midway International Airport, Revenue Bonds:
		65,000	A	Series A, 5.000% due 1/1/29(d)			66,571
		100,000	A	Series A, 5.000% due 1/1/30(d)			102,441
		70,000	A	Series A, 5.000% due 1/1/31(d)			71,733
		190,000	A	Series A, 5.000% due 1/1/32(d)			190,266
		95,000	A	Series B, 5.000% due 1/1/24			95,425

See Notes to Financial Statements.

189

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Illinois – (continued)
				Chicago O’Hare International Airport, Revenue Bonds:
	$	75,000	BBB+	5.000% due 7/1/38(d)		$	75,297
		125,000	A+	Series A, 5.000% due 1/1/24(d)			125,398
		270,000	A+	Series A, 5.000% due 1/1/29			283,636
		200,000	A+	Series A, 5.000% due 1/1/48(d)			202,879
		285,000	A+	Series B, 5.000% due 1/1/32			289,285
		120,000	A+	Series B, 5.000% due 1/1/53			123,145
		45,000	A+	Series C, 5.000% due 1/1/24			45,201
		65,000	A+	Series C, 5.000% due 1/1/25			66,223
		60,000	A+	Series C, 5.000% due 1/1/26			62,286
		80,000	A+	Series C, 5.000% due 1/1/34			82,499
		60,000	A+	Series D, 5.000% due 1/1/27(d)			62,099
		15,000	A+	Series D, 5.000% due 1/1/28(d)			15,514
		85,000	A+	Series D, 5.000% due 1/1/31(d)			88,117
		45,000	A+	Series D, 5.000% due 1/1/33(d)			46,634
		1,000,000	A+	City of Chicago IL Wastewater Transmission Revenue, Revenue Bonds, 5.000% due 1/1/33			1,001,641
		3,700,000	AA	City of Chicago IL Waterworks Revenue, Revenue Bonds, Series A, AGM-Insured, 5.500% due 11/1/62			4,020,057
		155,000	Aaa(a)	Cook Kane Lake & McHenry Counties Community College District No 512, GO, Series B, 5.000% due 12/1/24			157,725
		35,000	Aa3(a)	Grundy & Will Counties Community Unit School District No 1 Coal City, GO, 5.000% due 2/1/29			37,190
				Illinois Finance Authority, Revenue Bonds:
		60,000	AA+	5.000% due 7/15/26			62,642
		75,000	A+	5.000% due 11/15/26			75,045
		25,000	A3(a)	5.000% due 8/15/27			25,502
		70,000	A	5.000% due 5/15/28			72,308
		60,000	AA+	5.000% due 7/15/28			64,468
		40,000	A	5.000% due 5/15/29			41,240
		25,000	A+	5.000% due 11/15/29			25,014
		110,000	A3(a)	5.000% due 12/1/29			113,427
		145,000	AAA	5.000% due 1/1/30			153,747
		330,000	AA-	5.000% due 8/15/30			368,492
		255,000	AAA	5.000% due 7/1/31			270,545
		175,000	A3(a)	5.000% due 8/15/35			177,392
		100,000	A3(a)	5.000% due 12/1/46			99,995
		25,000	BBB+	5.000% due 8/1/49			23,892

See Notes to Financial Statements.

190

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Illinois – (continued)
	$	495,000	AA-	Series A, 5.000% due 2/15/24		$	498,093
		95,000	AA-	Series A, 5.000% due 2/15/25			96,763
		45,000	AA-	Series A, 5.000% due 2/15/26			46,512
		30,000	A	Series A, 5.000% due 11/15/27			30,853
		35,000	A	Series A, 5.000% due 11/15/28			35,967
		55,000	A	Series A, 5.000% due 11/15/29			56,411
		100,000	A	Series A, 5.000% due 11/15/32			102,351
		60,000	A+	Series A, 5.000% due 11/15/34			60,990
		2,000,000	A+	Series A, 5.000% due 11/15/38			2,011,832
		20,000	BBB+	Series A, 5.000% due 8/1/47			19,251
		75,000	Aa3(a)	Series A, Prerefunded 7/1/26 @ 100, 5.000% due 7/1/30(f)			78,743
		50,000	Aa3(a)	Series A, Prerefunded 7/1/26 @ 100, 5.000% due 7/1/34(f)			52,495
		255,000	Aa3(a)	Series A, Prerefunded 7/1/26 @ 100, 5.000% due 7/1/36(f)			267,726
		95,000	WD(g)	Series A, Prerefunded 8/15/26 @ 100, 5.000% due 8/15/33(f)			99,428
		15,000	WD(g)	Series A, Prerefunded 9/1/24 @ 100, 5.000% due 9/1/34(f)			15,224
		85,000	A+	Series B, 5.000% due 11/15/26			86,643
		35,000	AA+	Series C, 3.750% due 2/15/34			35,003
		160,000	AA+	Series C, 4.000% due 2/15/36			159,053
		15,000	AA+	Series C, 5.000% due 2/15/24			15,096
		75,000	AA+	Series C, 5.000% due 2/15/26			77,663
		200,000	AA+	Series C, 5.000% due 2/15/28			210,051
		135,000	AA+	Series C, 5.000% due 2/15/29			141,821
		50,000	AA+	Series C, 5.000% due 2/15/31			52,471
		365,000	AA+	Series C, 5.000% due 2/15/32			382,783
		145,000	AA+	Series C, 5.000% due 2/15/33			151,785
		65,000	AA+	Series C, 5.000% due 2/15/36			67,503
		205,000	AA+	Series C, 5.000% due 2/15/41			209,835
		170,000	AA-	Series Prerefunded 1/1/27 @ 100, 5.000% due 1/1/36(f)			179,695
		870,000	AA-	Series Prerefunded 1/1/28 @ 100, 5.000% due 1/1/38(f)			933,450
		1,300,000	AA-	Series Prerefunded 1/1/28 @ 100, 5.000% due 1/1/44(f)			1,394,810
		20,000	NR	Series Prerefunded 2/15/27 @ 100, 4.000% due 2/15/41(f)			20,474
				Illinois Municipal Electric Agency, Revenue Bonds:
		290,000	A	Series A, 5.000% due 2/1/28			297,024
		105,000	A	Series A, 5.000% due 2/1/31			107,116
				Illinois State Toll Highway Authority, Revenue Bonds:
		50,000	AA-	Series A, 5.000% due 12/1/31			51,541
		175,000	AA-	Series D, 5.000% due 1/1/24			175,879

See Notes to Financial Statements.

191

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Illinois – (continued)
				Kane McHenry Cook & De Kalb Counties Unit School District No 300, GO:
	$	260,000	AA	5.000% due 1/1/26		$	263,637
		55,000	AA	5.000% due 1/1/29			57,527
		1,045,000	Aa1(a)	Maine Township High School District No 207, GO, Series 2022, 4.000% due 12/1/25			1,056,732
		230,000	AA	McHenry & Kane Counties Community Consolidated School District No 158 Huntley, GO, zero coupon, due 1/1/24			227,251
				McHenry County Community Unit School District No 200 Woodstock, GO:
		225,000	Aa2(a)	Series B, NPFG, zero coupon, due 1/15/25			212,840
		170,000	Aa2(a)	Series B, NPFG, zero coupon, due 1/15/26			154,737
		215,000	NR	Series NPFG, zero coupon, due 1/15/24			212,086
				McHenry County Conservation District, GO:
		65,000	AA+	5.000% due 2/1/24			65,411
		175,000	AA+	5.000% due 2/1/27			178,812
		2,000,000	A	Metropolitan Pier & Exposition Authority, Revenue Bonds, 5.000% due 6/15/52			2,000,803
				State of Illinois, GO:
		225,000	A-	5.000% due 6/1/25			229,740
		270,000	A-	5.000% due 2/1/27			278,511
		180,000	A-	5.000% due 2/1/28			187,521
		60,000	A-	5.000% due 4/1/28			60,261
		25,000	A-	5.000% due 5/1/28			25,124
		165,000	A-	5.000% due 2/1/29			171,900
		70,000	A-	5.000% due 5/1/32			70,304
		190,000	A-	5.000% due 5/1/33			190,745
		305,000	A-	5.250% due 2/1/31			306,121
		1,185,000	A-	5.500% due 5/1/39			1,271,995
		2,000,000	A-	Series A, 5.000% due 3/1/29			2,139,458
		365,000	A-	Series B, 5.000% due 9/1/23			365,000
		365,000	A-	Series B, 5.000% due 9/1/24			369,345
		620,000	A-	Series D, 5.000% due 11/1/23			621,076
		405,000	A-	Series D, 5.000% due 11/1/25			415,627
		390,000	A-	Series D, 5.000% due 11/1/26			405,289
				University of Illinois, Revenue Bonds:
		115,000	A-	6.000% due 10/1/42			115,212
		115,000	A-	6.250% due 10/1/38			115,244
		1,000,000	AAA	Village of Schaumburg IL, GO, 4.000% due 12/1/33			1,022,760

See Notes to Financial Statements.

192

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Illinois – (continued)
				Will County Community Unit School District No 365-U Valley View, GO:
	$	2,420,000	Aa2(a)	Series A, 5.000% due 11/1/25		$	2,506,111
		165,000	AA	Series B, AGM, zero coupon, due 11/1/26			146,138
				Total Illinois			38,342,060
Indiana – 2.8%
		315,000	A+	City of Indianapolis IN Thermal Energy System Revenue, Revenue Bonds, Series A, 5.000% due 10/1/24			320,374
		805,000	NR	City of Valparaiso IN, Revenue Bonds, 7.000% due 1/1/44(d)			812,529
		370,000	A-	City of Whiting IN, Revenue Bonds, 5.000% due 12/1/44(b)(d)			378,844
		300,000	A-	County of St Joseph IN, Revenue Bonds, 4.000% due 4/1/38			275,381
				Indiana Finance Authority, Revenue Bonds:
		30,000	AA-	5.000% due 9/1/26			31,273
		15,000	AA-	5.000% due 9/1/29			15,692
		240,000	AA-	5.000% due 3/1/36			242,837
		60,000	AA-	5.000% due 9/1/36			61,830
		1,000,000	AAA	5.000% due 2/1/39(c)			1,108,253
		4,050,000	AAA	5.000% due 2/1/40			4,469,072
		4,255,000	AAA	5.000% due 2/1/41			4,677,304
		70,000	AA	Series A, 5.000% due 10/1/26			71,169
		250,000	AA	Series A, 5.000% due 10/1/38			276,117
		320,000	AA	Series B, 2.250% due 12/1/58(b)			310,401
		7,500,000	AA+	Indiana Health Facility Financing Authority, Revenue Bonds, Series E6, 4.100% due 11/15/39(b)			7,500,000
		185,000	Aaa(a)	Indiana Housing & Community Development Authority, Revenue Bonds, Series B, 3.500% due 1/1/49			180,436
		515,000	AAA	Indiana University, Revenue Bonds, Series W1, 5.000% due 8/1/26			522,361
				Indianapolis Local Public Improvement Bond Bank, Revenue Bonds:
		255,000	A1(a)	5.000% due 1/1/25(d)			257,822
		550,000	A1(a)	5.000% due 1/1/35(d)			593,388
		550,000	A1(a)	5.250% due 1/1/36(d)			597,271
		600,000	A1(a)	5.250% due 1/1/37(d)			645,363
		1,500,000	A1(a)	5.250% due 1/1/41(d)			1,581,724
				Total Indiana			24,929,441
Iowa – 1.1%
		1,155,000	Aa1(a)	City of Cedar Rapids IA, GO, Series A, 5.000% due 6/1/25			1,168,167
				Iowa Finance Authority, Revenue Bonds:
		1,785,000	BB+	4.750% due 8/1/42			1,697,221

See Notes to Financial Statements.

193

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Iowa – (continued)
	$	2,000,000	BBB-	5.000% due 12/1/50		$	1,970,575
		5,000,000	A3(a)	PEFA Inc., Revenue Bonds, 5.000% due 9/1/49(b)			5,047,337
				Total Iowa			9,883,300
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			30,695
		35,000	A	Series A, 5.000% due 9/1/32			35,805
				Total Kansas			66,500
Kentucky – 1.5%
		1,000,000	NR	City of Henderson KY, Revenue Bonds, 3.700% due 1/1/32(d)(e)			967,192
				Kenton County Airport Board, Revenue Bonds:
		25,000	A1(a)	5.000% due 1/1/25			25,519
		15,000	A1(a)	5.000% due 1/1/26			15,572
		45,000	A1(a)	5.000% due 1/1/29			46,696
		50,000	A1(a)	5.000% due 1/1/30			51,783
		5,000,000	A2(a)	Kentucky Public Energy Authority, Revenue Bonds, Series B, 4.000% due 1/1/49(b)			4,978,340
				Kentucky State Property & Building Commission, Revenue Bonds:
		160,000	A	5.000% due 4/1/27			168,710
		145,000	A	5.000% due 5/1/28			155,387
		15,000	A	5.000% due 5/1/29			16,096
		40,000	AA	5.000% due 5/1/31			43,166
		165,000	A	Series A, 5.000% due 2/1/29			170,986
		170,000	A	Series A, 5.000% due 2/1/30			176,088
		65,000	A	Series A, 5.000% due 2/1/32			67,176
		80,000	A	Series A, 5.000% due 2/1/33			82,547
		110,000	A	Series A, Prerefunded 10/1/23 @ 100, 5.000% due 10/1/27(f)			110,124
		325,000	A	Series B, 5.000% due 11/1/26			340,379
		35,000	A1(a)	Series D, 5.000% due 5/1/26			36,444
		30,000	A1(a)	Series D, 5.000% due 5/1/27			31,678
		30,000	A1(a)	Series D, 5.000% due 5/1/28			31,732
		2,000,000	AA	Louisville & Jefferson County Metropolitan Sewer District, Revenue Bonds, Series A, 3.000% due 5/15/44			1,501,011
				Louisville/Jefferson County Metropolitan Government, Revenue Bonds:
		3,200,000	A	5.000% due 10/1/47(b)			3,415,589
		525,000	A	Series A, 5.000% due 10/1/29			540,858

See Notes to Financial Statements.

194

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Kentucky – (continued)
	$	70,000	A	Series A, 5.500% due 10/1/33		$	70,088
		185,000	A	Series A, 5.750% due 10/1/38			185,266
				Total Kentucky			13,228,427
Louisiana – 1.1%
		2,500,000	AA-	East Baton Rouge Sewerage Commission, Revenue Bonds, Series A, 4.000% due 2/1/45			2,346,790
		2,800,000	A1(a)	Louisiana Local Government Environmental Facilities & Community Development Auth, Revenue Bonds, 5.000% due 8/15/37			2,870,329
		1,500,000	AA	Louisiana Local Government Environmental Facilities & Community Development Authority, Revenue Bonds, 5.000% due 10/1/26			1,567,040
		85,000	A+	Louisiana Public Facilities Authority, Revenue Bonds, Series A, 5.000% due 12/15/23			85,317
				New Orleans Aviation Board, Revenue Bonds:
		70,000	A	Series B, 5.000% due 1/1/24(d)			70,189
		85,000	A	Series B, 5.000% due 1/1/25(d)			85,996
		65,000	A	Series B, 5.000% due 1/1/27(d)			65,553
		10,000	A	Series B, 5.000% due 1/1/29(d)			10,358
		20,000	A	Series B, 5.000% due 1/1/31(d)			20,733
		20,000	A	Series B, 5.000% due 1/1/36(d)			20,575
		15,000	A	Series B, 5.000% due 1/1/37(d)			15,365
		20,000	A	Series D2, 5.000% due 1/1/26(d)			20,438
		15,000	A	Series D2, 5.000% due 1/1/29(d)			15,538
		20,000	A	Series D2, 5.000% due 1/1/30(d)			20,724
		45,000	A	Series D2, 5.000% due 1/1/32(d)			46,655
		35,000	A	Series D2, 5.000% due 1/1/35(d)			36,164
		15,000	A	Series D2, 5.000% due 1/1/38(d)			15,286
		1,000,000	BB-	Parish of St James LA, Revenue Bonds, Series 2, 6.350% due 10/1/40(e)			1,085,260
		450,000	BBB-	Parish of St John the Baptist LA, Revenue Bonds, 4.050% due 6/1/37(b)			445,487
		1,000,000	A2(a)	St John the Baptist Parish School District No 1, GO, 5.250% due 3/1/37			1,066,319
				Total Louisiana			9,910,116
Maine – 0.2%
		2,500,000	AA+	Maine State Housing Authority, Revenue Bonds, Series B, 3.150% due 11/15/39			2,100,261
		60,000	AA-	Maine Turnpike Authority, Revenue Bonds, 5.000% due 7/1/27			61,835
				Total Maine			2,162,096
Maryland – 2.0%
		600,000	NR	Anne Arundel County Consolidated Special Taxing District, Special Tax, 5.125% due 7/1/36			601,565

See Notes to Financial Statements.

195

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Maryland – (continued)
				City of Baltimore MD, Revenue Bonds:
	$	105,000	AA-	Series C, 5.000% due 7/1/28		$	111,373
		195,000	AA-	Series C, 5.000% due 7/1/31			206,508
		200,000	AA-	Series C, 5.000% due 7/1/33			211,527
		170,000	A+	Series D, 5.000% due 7/1/33			179,798
		730,000	BB+	County of Frederick MD, Revenue Bonds, Series A, 5.000% due 9/1/37(e)			689,930
		2,500,000	AAA	County of Howard MD, GO, Series D, 5.000% due 2/15/30			2,710,225
		5,805,000	AAA	County of Prince George’s MD, GO, Series A, 5.000% due 7/15/29			6,333,405
				Maryland Community Development Administration, Revenue Bonds:
		175,000	Aa1(a)	Series B, 4.000% due 9/1/49			173,011
		185,000	Aa1(a)	Series C, 3.500% due 3/1/50			180,595
		320,000	Aa1(a)	Series C, 5.000% due 9/1/28			343,747
		2,000,000	NR	Maryland Economic Development Corp., Special Tax, 4.000% due 9/1/50			1,611,805
				Maryland Health & Higher Educational Facilities Authority, Revenue Bonds:
		155,000	BBB+	Series A, 4.000% due 7/1/42			137,096
		65,000	BBB+	Series A, 5.000% due 7/1/33			66,458
		50,000	BBB+	Series A, 5.000% due 7/1/34			51,177
		20,000	BBB+	Series A, 5.000% due 7/1/35			20,414
		50,000	BBB+	Series A, 5.000% due 7/1/36			50,845
		1,405,000	Baa3(a)	Series A, 5.500% due 1/1/46			1,415,340
		3,000,000	AAA	State of Maryland Department of Transportation, Revenue Bonds, 3.500% due 10/1/33			2,984,194
				Total Maryland			18,079,013
Massachusetts – 1.5%
				Commonwealth of Massachusetts, GO:
		2,640,000	AA+	5.000% due 5/1/41			2,907,776
		1,500,000	AA+	Series E, 5.000% due 11/1/45			1,624,072
				Massachusetts Bay Transportation Authority Sales Tax Revenue, Revenue Bonds:
		45,000	AA+	Series A, 5.000% due 7/1/45			45,673
		2,500,000	AA+	Series A, Prerefunded 7/1/24 @ 100, 5.000% due 7/1/37(f)			2,532,927
		1,220,000	AA+	Series A1, 5.000% due 7/1/41			1,348,684
				Massachusetts Development Finance Agency, Revenue Bonds:
		115,000	AA-	5.000% due 7/1/24			116,459
		50,000	A	5.000% due 7/1/30			53,494
		235,000	A	5.000% due 7/1/31			251,620
		1,000,000	BBB	5.250% due 7/1/52			1,023,230

See Notes to Financial Statements.

196

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Massachusetts – (continued)
	$	2,500,000	AAA	Series A, 4.000% due 7/15/36		$	2,524,872
		585,000	A+	Series S1, 5.000% due 10/1/24			594,361
		335,000	AA-	Series S4, 5.000% due 7/1/38(b)			336,704
		500,000	AA	Massachusetts Port Authority, Revenue Bonds, Series E, 5.000% due 7/1/31(d)			550,372
				Total Massachusetts			13,910,244
Michigan – 1.6%
		160,000	AA	City of Detroit MI Sewage Disposal System Revenue, Revenue Bonds, Series D, AGM-Insured, 4.291% due 7/1/32(b)			150,604
		2,155,000	AA+	County of Kalamazoo MI, GO, 3.000% due 5/1/32			2,073,797
		155,000	AA	Detroit Downtown Development Authority, Special Tax, Series A, AGM-Insured, 5.000% due 7/1/37			155,327
				Grand Rapids Public Schools, GO:
		40,000	AA	5.000% due 5/1/27			42,251
		55,000	AA	5.000% due 5/1/29			58,337
		100,000	AA	5.000% due 5/1/30			103,507
		145,000	AA	5.000% due 5/1/31			149,863
		20,000	AA	5.000% due 5/1/32			20,640
		90,000	AA	5.000% due 5/1/33			92,880
				Kalamazoo Hospital Finance Authority, Revenue Bonds:
		100,000	A2(a)	5.000% due 5/15/27			103,341
		75,000	A2(a)	5.000% due 5/15/28			77,473
				Michigan Finance Authority, Revenue Bonds:
		1,250,000	Aa3(a)	5.000% due 11/1/23			1,253,049
		45,000	AA-	5.000% due 12/1/23			45,163
		750,000	Aa3(a)	5.000% due 11/1/24			763,979
		50,000	AA-	5.000% due 12/1/24			50,965
		85,000	AA-	5.000% due 12/1/25			87,695
		40,000	AA-	5.000% due 12/1/26			41,951
		35,000	AA-	5.000% due 12/1/27			37,340
		60,000	AA-	5.000% due 12/1/28			63,911
		315,000	A	5.000% due 11/15/32			325,874
		735,000	AA-	5.000% due 12/1/44(b)			750,266
		10,000	AA-	Series D1, 5.000% due 7/1/27			10,194
		30,000	AA-	Series D1, 5.000% due 7/1/29			30,656
		35,000	AA-	Series D1, 5.000% due 7/1/31			35,827
		30,000	AA-	Series D1, 5.000% due 7/1/32			30,667
		25,000	AA-	Series D1, 5.000% due 7/1/33			25,551

See Notes to Financial Statements.

197

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Michigan – (continued)
				Michigan State Building Authority, Revenue Bonds:
	$	495,000	AA-	Series I, 5.000% due 10/15/34		$	519,338
		80,000	AA-	Series I, 5.000% due 4/15/35			83,966
				Michigan State Hospital Finance Authority, Revenue Bonds:
		710,000	AA+	4.000% due 11/15/47(b)			710,956
		45,000	AA-	Series C, 5.000% due 12/1/24			45,868
		60,000	AA-	Series C, 5.000% due 12/1/26			62,927
		40,000	AA-	Series C, 5.000% due 12/1/27			42,675
		60,000	AA-	Series C, 5.000% due 12/1/28			63,911
		500,000	BB	Michigan Strategic Fund, Revenue Bonds, 4.000% due 10/1/61(b)(d)			495,005
		2,590,000	Aa2(a)	Plymouth-Canton Community School District, GO, 5.000% due 5/1/40			2,819,966
		90,000	AA-	Portage Public Schools, GO, 5.000% due 11/1/29			93,504
		60,000	Aa3(a)	Royal Oak Hospital Finance Authority, Revenue Bonds, Series Prerefunded 3/1/24 @ 100, 5.000% due 9/1/24(f)			60,443
		1,500,000	Aa1(a)	State of Michigan, GO, Series A, 4.000% due 5/15/38			1,499,985
				Warren Consolidated Schools, GO:
		130,000	AA	5.000% due 5/1/30			134,994
		140,000	AA	5.000% due 5/1/31			144,803
		145,000	AA	5.000% due 5/1/32			149,788
				Wayne County Airport Authority, Revenue Bonds:
		5,000	A	Series A, 5.000% due 12/1/29			5,315
		10,000	A	Series A, 5.000% due 12/1/30			10,616
		10,000	A	Series A, 5.000% due 12/1/31			10,619
		15,000	A	Series A, 5.000% due 12/1/36			15,636
		620,000	A	Series B, 5.000% due 12/1/29(d)			648,116
		15,000	A	Series B, 5.000% due 12/1/30(d)			15,689
		15,000	A	Series B, 5.000% due 12/1/31(d)			15,693
		10,000	A	Series B, 5.000% due 12/1/33(d)			10,449
		25,000	A	Series B, 5.000% due 12/1/36(d)			25,774
		65,000	A	Series C, 5.000% due 12/1/23			65,229
		70,000	A	Series C, 5.000% due 12/1/24			71,316
		70,000	A	Series C, 5.000% due 12/1/25			72,510
		45,000	A	Series C, 5.000% due 12/1/26			47,492
		45,000	A	Series C, 5.000% due 12/1/27			48,322
				Total Michigan			14,572,013

See Notes to Financial Statements.

198

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Minnesota – 1.5%
	$	2,500,000	AAA	Metropolitan Council, GO, Series I, 3.000% due 3/1/27		$	2,469,647
				State of Minnesota, GO:
		5,000,000	AAA	Series A, 5.000% due 8/1/37			5,373,597
		4,835,000	AAA	Series B, 5.000% due 8/1/27			5,197,475
				Total Minnesota			13,040,719
Mississippi – 0.8%
		1,500,000	NR	Mississippi Business Finance Corp., Revenue Bonds, 5.000% due 2/1/36(b)(d)(e)			1,440,787
				Mississippi Hospital Equipment & Facilities Authority, Revenue Bonds:
		170,000	A+	5.000% due 10/1/40(b)			175,967
		435,000	A3(a)	Series A, 5.000% due 1/1/34			461,468
		225,000	A3(a)	Series B, 5.000% due 1/1/30			238,504
				State of Mississippi, GO:
		160,000	AA	Series A, 5.000% due 10/1/30			171,058
		4,000,000	AA	Series C, 5.000% due 10/1/35			4,298,098
				Total Mississippi			6,785,882
Missouri – 0.9%
		2,550,000	AA+	Grain Valley No R-V School District, GO, Series A, 5.000% due 3/1/35			2,691,368
				Health & Educational Facilities Authority of the State of Missouri, Revenue Bonds:
		30,000	AA-	5.000% due 5/15/29			30,930
		30,000	AA-	5.000% due 5/15/30			30,863
		30,000	AA-	5.000% due 5/15/31			30,875
		85,000	AA-	5.000% due 5/15/36			86,832
		20,000	A+	Series B, 4.000% due 2/1/40			18,639
		70,000	A+	Series B, 5.000% due 2/1/30			71,445
		80,000	A+	Series B, 5.000% due 2/1/32			81,594
		65,000	A+	Series B, 5.000% due 2/1/36			66,086
		2,500,000	AAA	Metropolitan St Louis Sewer District, Revenue Bonds, Series A, 5.000% due 5/1/37			2,620,434
		2,100,000	AA-	Missouri Development Finance Board, Revenue Bonds, 5.500% due 5/1/41			2,288,607
		50,000	AA+	Missouri Housing Development Commission, Revenue Bonds, Series B, 4.000% due 5/1/50			49,352
				Total Missouri			8,067,025
Montana – 0.2%
				Montana Board of Housing, Revenue Bonds:
		25,000	AA+	Series A1, 4.000% due 12/1/47(d)			24,805
		25,000	AA+	Series B, 4.000% due 6/1/50			24,659

See Notes to Financial Statements.

199

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units				Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Montana – (continued)
					Montana Facility Finance Authority, Revenue Bonds:
	$	60,000		A+(g)	5.000% due 2/15/24		$	60,269
		60,000		A+(g)	5.000% due 2/15/25			60,784
		90,000	��	A+(g)	5.000% due 2/15/26			92,155
		1,390,000		AA	Yellowstone & Carbon Counties School District No 7-70 Laurel, GO, 5.000% due 7/1/42			1,493,736
					Total Montana			1,756,408
Nebraska – 0.2%
					Nebraska Investment Finance Authority, Revenue Bonds:
		145,000		AAA	Series B, 4.000% due 9/1/49(d)			142,306
		140,000		AAA	Series E, 3.750% due 9/1/49(d)			137,250
					Nebraska Public Power District, Revenue Bonds:
		115,000		A+	Series B, 5.000% due 1/1/31			118,463
		125,000		A+	Series B, 5.000% due 1/1/34			127,729
		155,000		A+	Series B, 5.000% due 1/1/36			158,245
		1,000,000		Aa3(a)	Ralston Public Schools, GO, 5.000% due 12/15/43			1,085,755
					Total Nebraska			1,769,748
Nevada – 0.8%
					Carson City NV, Revenue Bonds:
		20,000		BBB+	5.000% due 9/1/24			20,198
		15,000		BBB+	5.000% due 9/1/28			15,586
		20,000		BBB+	5.000% due 9/1/30			20,762
		20,000		BBB+	5.000% due 9/1/32			20,759
		20,000		BBB+	5.000% due 9/1/34			20,683
		2,000,000		AA-	Clark County School District, GO, Series A, 5.000% due 6/15/39			2,185,825
		1,520,000		AAA	Clark County Water Reclamation District, GO, 4.000% due 7/1/35			1,522,609
		2,750,000		AA+	County of Clark NV, GO, Series B, 4.000% due 11/1/34			2,777,615
					Las Vegas Valley Water District, GO:
		85,000		AA	Series A, 5.000% due 6/1/32			88,611
		145,000		AA	Series A, 5.000% due 6/1/33			151,082
		155,000		AA	Series A, 5.000% due 6/1/34			161,337
		70,000		AA+	Nevada Housing Division, Revenue Bonds, Series B, 4.000% due 10/1/49			69,111
					Total Nevada			7,054,178
New Hampshire – 0.3%
					New Hampshire Business Finance Authority, Revenue Bonds:
		1,000,000		B+	2.950% due 4/1/29(d)(e)			898,630
		740,000		A-	Series A2, zero coupon, due 7/1/27(b)(d)			727,729

See Notes to Financial Statements.

200

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
New Hampshire – (continued)
				New Hampshire Health & Education Facilities Authority Act, Revenue Bonds:
	$	25,000	A-	4.000% due 10/1/38		$	22,798
		40,000	AA-	5.000% due 7/1/24			40,507
		35,000	BBB+	5.000% due 7/1/26			35,024
		135,000	A-	5.000% due 10/1/26			139,362
		145,000	A-	5.000% due 10/1/27			149,059
		60,000	A-	5.000% due 10/1/28			61,624
		70,000	AA-	5.000% due 7/1/30			75,410
		65,000	A	5.000% due 8/1/30			68,332
		210,000	A-	5.000% due 10/1/30			214,616
				Total New Hampshire			2,433,091
New Jersey – 2.1%
				Camden County Improvement Authority, Revenue Bonds:
		60,000	A-	5.000% due 2/15/24			60,258
		30,000	A-	Series Prerefunded 2/15/24 @ 100, 5.000% due 2/15/25(f)			30,201
				City of Bayonne NJ, GO:
		45,000	AA	Series Prerefunded 7/1/26 @ 100, 5.000% due 7/1/31(f)			47,308
		30,000	AA	Series Prerefunded 7/1/26 @ 100, 5.000% due 7/1/32(f)			31,539
		30,000	AA	Series Prerefunded 7/1/26 @ 100, 5.000% due 7/1/33(f)			31,539
				New Jersey Economic Development Authority, Revenue Bonds:
		850,000	A-	5.000% due 11/1/34			915,923
		1,000,000	A-	Series EEE, 5.000% due 6/15/30			1,071,356
		580,000	A-	Series XX, Prerefunded 6/15/25 @ 100, 5.000% due 6/15/26(f)			598,717
		55,000	A3(a)	New Jersey Educational Facilities Authority, Revenue Bonds, Series A, 5.000% due 7/1/29			56,526
				New Jersey Health Care Facilities Financing Authority, Revenue Bonds:
		2,000,000	BBB-	4.000% due 7/1/48			1,631,348
		15,000	AA	Series A, 5.000% due 7/1/28			15,694
		45,000	AA	Series A, 5.000% due 7/1/33			46,950
		620,000	AA-	Series B2, 5.000% due 7/1/42(b)			634,471
		625,000	AA-	Series B3, 5.000% due 7/1/45(b)			645,591
				New Jersey Higher Education Student Assistance Authority, Revenue Bonds:
		100,000	AA	Series 1A, 5.000% due 12/1/24(d)			101,285
		115,000	Aa1(a)	Series A, 5.000% due 12/1/23			115,406
		65,000	Aa1(a)	Series A, 5.000% due 12/1/24			66,064
		125,000	Aa1(a)	Series A, 5.000% due 12/1/25			129,018

See Notes to Financial Statements.

201

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
New Jersey – (continued)
				New Jersey Transportation Trust Fund Authority, Revenue Bonds:
	$	5,000,000	A+	5.000% due 6/15/24		$	5,054,572
		435,000	A+	5.000% due 6/15/27			452,531
		1,320,000	A-	5.000% due 12/15/28			1,425,252
		200,000	A-	5.000% due 12/15/39			209,987
		870,000	A-	Series A, zero coupon, due 12/15/27			742,073
		195,000	A-	Series A, zero coupon, due 12/15/28			160,288
		220,000	A-	Series A, 5.000% due 12/15/33			235,002
		2,000,000	A-	Series A, 5.000% due 12/15/34			2,129,693
		360,000	A-	Series AA, 5.000% due 6/15/25			363,828
		215,000	A-	Series AA, 5.000% due 6/15/26			217,179
		1,525,000	AA-	New Jersey Turnpike Authority, Revenue Bonds, Series B, 5.000% due 1/1/46			1,640,795
				Total New Jersey			18,860,394
New Mexico – 0.1%
		490,000	AA	New Mexico Hospital Equipment Loan Council, Revenue Bonds, Series B, 5.000% due 8/1/49(b)			501,098
		120,000	Aaa(a)	New Mexico Mortgage Finance Authority, Revenue Bonds, Series D, 3.750% due 1/1/50			117,696
				Total New Mexico			618,794
New York – 9.8%
		1,430,000	Ba1(a)	Brooklyn Arena Local Development Corp., Revenue Bonds, zero coupon, due 7/15/46			422,030
				City of New York NY, GO:
		1,000,000	AA	Series A, 5.000% due 8/1/40			1,088,978
		2,035,000	AA	Series B1, 5.000% due 12/1/38			2,098,921
		2,500,000	AA	Series B1, 5.000% due 12/1/41			2,570,864
		500,000	AA	Series B1, 5.250% due 10/1/41			550,815
		5,000,000	AA	Series D1, 5.000% due 12/1/34			5,390,891
		1,000,000	AA	Series F1, 5.000% due 4/1/43			1,039,455
				Hudson Yards Infrastructure Corp., Revenue Bonds:
		115,000	AA-	Series A, 5.000% due 2/15/32			121,847
		215,000	AA-	Series A, 5.000% due 2/15/35			226,667
				Long Island Power Authority, Revenue Bonds:
		1,020,000	A	Series B, 1.650% due 9/1/49(b)			996,595
		45,000	A	Series B, 5.000% due 9/1/23			45,000
		40,000	A	Series B, 5.000% due 9/1/24			40,699

See Notes to Financial Statements.

202

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
New York – (continued)
				Metropolitan Transportation Authority, Revenue Bonds:
	$	1,780,000	AA	Series A, 5.250% due 11/15/27		$	1,891,851
		125,000	BBB+	Series A1, 5.000% due 11/15/35			126,331
		145,000	BBB+	Series A1, 5.000% due 11/15/36			146,308
		245,000	BBB+	Series A2, 5.000% due 11/15/29			256,506
		270,000	BBB+	Series B, 5.000% due 11/15/30			278,427
		290,000	BBB+	Series C1, 5.000% due 11/15/27			300,020
		685,000	BBB+	Series C1, 5.000% due 11/15/28			701,237
		300,000	BBB+	Series C1, 5.000% due 11/15/31			316,819
		2,700,000	BBB+	Series C1, 5.250% due 11/15/55			2,774,842
		415,000	BBB+	Series D1, 5.000% due 11/15/30			418,779
				MTA Hudson Rail Yards Trust Obligations, Revenue Bonds:
		370,000	A3(a)	Series A, 5.000% due 11/15/51			370,605
		860,000	A3(a)	Series A, 5.000% due 11/15/56			860,083
		250,000	CCC+	Nassau County Tobacco Settlement Corp., Revenue Bonds, Series A3, 5.000% due 6/1/35			229,918
				New York City Municipal Water Finance Authority, Revenue Bonds:
		4,285,000	AA+	4.000% due 6/15/50(b)			4,285,000
		2,685,000	AA+	5.000% due 6/15/41			2,864,500
		2,000,000	AA+	Series AA1, 5.250% due 6/15/52			2,160,241
		1,945,000	AA+	Series EE, 5.000% due 6/15/45			2,031,673
				New York City Transitional Finance Authority Future Tax Secured Revenue, Revenue Bonds:
		1,100,000	AAA	3.950% due 5/1/34(b)			1,100,000
		1,500,000	AAA	Series A1, 4.000% due 11/1/37			1,502,879
		3,200,000	AAA	Series A1, 5.000% due 8/1/41			3,455,514
		2,185,000	AAA	Series A1, 5.000% due 8/1/43			2,344,665
		1,775,000	AAA	Series B1, 5.000% due 11/1/36			1,785,361
		275,000	AAA	Series C2, 5.000% due 5/1/32			296,299
		1,000,000	AAA	Series E1, 5.000% due 2/1/31			1,020,494
		1,700,000	AAA	Series F1, 5.000% due 2/1/41			1,842,060
				New York Liberty Development Corp., Revenue Bonds:
		2,000,000	NR	5.000% due 11/15/44(e)			1,906,862
		1,750,000	AA-	Series 1WTC, 2.750% due 2/15/44			1,247,034
				New York State Dormitory Authority, Revenue Bonds:
		1,000,000	B-	4.000% due 7/1/45			695,949
		4,000,000	Aa1(a)	Series A, 5.250% due 3/15/38			4,303,875

See Notes to Financial Statements.

203

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
New York – (continued)
	$	225,000	A-	Series B2, 5.000% due 5/1/48(b)		$	225,425
		250,000	A-	Series B3, 5.000% due 5/1/48(b)			256,168
				New York State Urban Development Corp., Revenue Bonds:
		1,250,000	AA+	Series A, 3.000% due 3/15/50			931,008
		80,000	AA+	Series A, 5.000% due 3/15/32			84,485
		3,500,000	AA+	Series A, 5.000% due 3/15/38			3,628,624
				New York Transportation Development Corp., Revenue Bonds:
		2,000,000	Baa3(a)	5.000% due 1/1/30(d)			2,056,526
		2,000,000	Baa1(a)	5.000% due 12/1/36(d)			2,100,506
		2,500,000	Baa1(a)	5.000% due 12/1/37(d)			2,596,064
		1,750,000	Baa3(a)	5.000% due 10/1/40(d)			1,765,714
		1,500,000	B	Niagara Area Development Corp., Revenue Bonds, Series A, 4.750% due 11/1/42(d)(e)			1,306,614
		175,000	AA-	Onondaga Civic Development Corp., Revenue Bonds, Series A, 5.000% due 12/1/33			196,148
				Port Authority of New York & New Jersey, Revenue Bonds:
		1,750,000	AA-	5.000% due 9/15/31(d)			1,833,369
		1,160,000	AA-	5.000% due 1/15/39(d)			1,243,227
		5,000,000	AA-	Series 207, 5.000% due 9/15/24(d)			5,072,622
		2,500,000	AA-	Series 207, 5.000% due 9/15/29(d)			2,620,244
		400,000	AA+	Sales Tax Asset Receivable Corp., Revenue Bonds, Series A, Prerefunded 10/15/24 @ 100, 4.000% due 10/15/32(f)			403,044
		65,000	Aa1(a)	State of New York Mortgage Agency Homeowner Mortgage Revenue, Revenue Bonds, Series 221, 3.500% due 10/1/32(d)			62,961
				Triborough Bridge & Tunnel Authority, Revenue Bonds:
		2,000,000	AA-	5.000% due 11/15/25			2,075,242
		1,500,000	AA+	5.000% due 5/15/44			1,603,153
		85,000	AA-	Series B, 5.000% due 11/15/23			85,265
		115,000	AA-	Series B, 5.000% due 11/15/24			115,329
		1,500,000	NR	TSASC Inc., Revenue Bonds, 5.000% due 6/1/48			1,376,373
				Total New York			87,745,005
North Carolina – 0.2%
				County of New Hanover NC, Revenue Bonds:
		25,000	WR(a)	5.000% due 10/1/27			26,855
		205,000	WR(a)	Series Prerefunded 10/1/27 @ 100, 5.000% due 10/1/47(f)			220,213
		1,000,000	AAA	County of Wake NC, GO, Series C, 5.000% due 2/1/28			1,086,086

See Notes to Financial Statements.

204

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
North Carolina – (continued)
	$	105,000	Aa3(a)	Raleigh Durham Airport Authority, Revenue Bonds, Series A, 5.000% due 5/1/29(d)		$	111,706
				Total North Carolina			1,444,860
Ohio – 1.8%
		3,950,000	NR	Buckeye Tobacco Settlement Financing Authority, Revenue Bonds, Series B2, 5.000% due 6/1/55			3,610,665
				City of Cleveland OH Airport System Revenue, Revenue Bonds, AGM:
		30,000	AA	Series A, 5.000% due 1/1/26			30,555
		45,000	AA	Series A, 5.000% due 1/1/28			45,951
		65,000	AA	Series A, 5.000% due 1/1/29			66,416
		60,000	AA	Series A, 5.000% due 1/1/30			61,277
		3,000,000	BB+	Cleveland-Cuyahoga County Port Authority, Revenue Bonds, 5.500% due 12/1/43			2,992,461
		55,000	AA	Columbus City School District, GO, 5.000% due 12/1/32			57,219
				County of Allen OH Hospital Facilities Revenue, Revenue Bonds:
		125,000	A+	5.000% due 12/1/29			136,598
		125,000	A+	5.000% due 12/1/30			137,251
		500,000	BBB	County of Cuyahoga OH, Revenue Bonds, 5.250% due 2/15/47			493,532
		60,000	Aa2(a)	County of Franklin OH, Revenue Bonds, 5.000% due 11/1/26			62,949
		140,000	BB+	County of Muskingum OH, Revenue Bonds, 5.000% due 2/15/44			126,641
		265,000	A3(a)	County of Scioto OH, Revenue Bonds, 5.000% due 2/15/29			272,944
		1,000,000	NR	County of Washington OH, Revenue Bonds, 6.625% due 12/1/42			999,336
		2,750,000	Ba1(a)	Jefferson County Port Authority, Revenue Bonds, 3.500% due 12/1/51(d)(e)			1,873,417
		285,000	Aa3(a)	Miami University, Revenue Bonds, Series A, 5.000% due 9/1/30			319,210
		1,500,000	B-	Ohio Air Quality Development Authority, Revenue Bonds, 5.000% due 7/1/49(d)(e)			1,347,634
		40,000	Aaa(a)	Ohio Housing Finance Agency, Revenue Bonds, Series B, 4.500% due 3/1/50			39,955
		2,000,000	AAA	Ohio Water Development Authority Water Pollution Control Loan Fund, Revenue Bonds, Series A, 4.000% due 12/1/36(b)			2,000,000
		1,000,000	AA+	State of Ohio, GO, Series A, 5.000% due 3/1/28			1,083,956
				State of Ohio, Revenue Bonds:
		75,000	AA	5.000% due 1/1/27			79,205
		90,000	A	Series A, 4.000% due 1/15/50			79,385
				Total Ohio			15,916,557

See Notes to Financial Statements.

205

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Oklahoma – 1.0%
	$	560,000	A+	Canadian County Educational Facilities Authority, Revenue Bonds, 5.000% due 9/1/26		$	585,545
				Grand River Dam Authority, Revenue Bonds:
		35,000	AA-	Series A, 5.000% due 6/1/27			35,348
		45,000	AA-	Series A, 5.000% due 6/1/28			45,453
		3,300,000	AA-	Oklahoma Capitol Improvement Authority, Revenue Bonds, Series A, 5.000% due 7/1/30			3,337,291
				Oklahoma Development Finance Authority, Revenue Bonds:
		2,000,000	BB-	Series B, 5.500% due 8/15/52			1,911,506
		1,000,000	BB-	Series C, 5.450% due 8/15/28			868,595
				Oklahoma Municipal Power Authority, Revenue Bonds:
		50,000	A	Series A, Prerefunded 1/1/25 @ 100, 5.000% due 1/1/26(f)			51,124
		175,000	A	Series A, Prerefunded 1/1/25 @ 100, 5.000% due 1/1/27(f)			178,932
		60,000	A	Series A, Prerefunded 1/1/25 @ 100, 5.000% due 1/1/28(f)			61,348
		45,000	A	Series A, Prerefunded 1/1/25 @ 100, 5.000% due 1/1/29(f)			46,011
		60,000	A	Series B, 5.000% due 1/1/27			60,997
		600,000	AAA	Oklahoma Water Resources Board, Revenue Bonds, Series A, 4.000% due 4/1/35			621,240
				Tulsa Airports Improvement Trust, Revenue Bonds:
		1,000,000	B+	5.000% due 6/1/35(b)(d)			1,003,887
		525,000	NR	Series A, 5.500% due 6/1/35(d)			526,199
				Total Oklahoma			9,333,476
Oregon – 2.0%
		85,000	Aa1(a)	Hillsboro School District No 1J, GO, 5.000% due 6/15/30			90,524
		1,590,000	A	Oregon State Facilities Authority, Revenue Bonds, 5.000% due 10/1/45			1,588,267
				Oregon State Lottery, Revenue Bonds:
		4,000,000	AAA	Series A, 5.000% due 4/1/42			4,355,281
		4,850,000	AAA	Series A, 5.000% due 4/1/43			5,254,349
		3,000,000	AAA	Series D, 5.000% due 4/1/29			3,076,292
				Port of Portland OR Airport Revenue, Revenue Bonds:
		300,000	AA-	5.000% due 7/1/28(d)			317,564
		165,000	AA-	5.000% due 7/1/29			178,099
		205,000	AA-	Series 24B, 5.000% due 7/1/32(d)			212,479
		2,675,000	AA+	Salem-Keizer School District No 24J, GO, 5.000% due 6/15/32			2,888,393
				Total Oregon			17,961,248
Pennsylvania – 2.8%
		1,000,000	BB	Bucks County Industrial Development Authority, Revenue Bonds, 4.000% due 7/1/51			714,578

See Notes to Financial Statements.

206

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Pennsylvania – (continued)
				City of Philadelphia PA, GO:
	$	1,000,000	A	Series B, 5.000% due 2/1/24		$	1,005,679
		85,000	A	Series B, 5.000% due 8/1/27			87,470
		300,000	A	Series B, 5.000% due 8/1/29			307,823
		320,000	A	Series B, 5.000% due 8/1/30			328,106
		335,000	A	Series B, 5.000% due 8/1/31			343,114
				City of Philadelphia PA Airport Revenue, Revenue Bonds:
		50,000	A+	Series B, 5.000% due 7/1/30(d)			52,076
		70,000	A+	Series B, 5.000% due 7/1/31(d)			72,946
				Commonwealth Financing Authority, Revenue Bonds:
		1,010,000	A	Series A, 5.000% due 6/1/28			1,084,736
		500,000	A	Series B, 5.000% due 6/1/25			514,250
				Commonwealth of Pennsylvania, GO:
		3,000,000	A+	4.000% due 3/15/34			3,019,514
		5,000,000	A+	4.000% due 9/15/34			5,054,015
		290,000	A+	5.000% due 10/15/27			290,546
		810,000	A+	5.000% due 9/15/29			855,344
				General Authority of Southcentral Pennsylvania, Revenue Bonds:
		190,000	Aa3(a)	5.000% due 6/1/38			198,006
		310,000	Aa3(a)	5.000% due 6/1/39			321,968
				Lancaster County Hospital Authority, Revenue Bonds:
		800,000	A	5.000% due 11/1/38			835,487
		1,000,000	A	5.000% due 11/1/39			1,040,207
		325,000	A	Montgomery County Higher Education & Health Authority, Revenue Bonds, 5.000% due 9/1/33			345,197
				Pennsylvania Economic Development Financing Authority, Revenue Bonds:
		1,000,000	Baa2(a)	5.500% due 6/30/37(d)			1,092,342
		1,500,000	Baa2(a)	5.500% due 6/30/39(d)			1,619,824
		1,000,000	AA	5.500% due 6/30/42(d)			1,094,026
		1,000,000	Baa2(a)	6.000% due 6/30/61(d)			1,083,785
				Pennsylvania Higher Educational Facilities Authority, Revenue Bonds:
		775,000	AA	4.000% due 8/15/38			761,165
		35,000	AA	Series A, 5.000% due 8/15/27			37,212
		35,000	AA	Series A, 5.000% due 8/15/28			37,232
		60,000	AA	Series A, 5.000% due 8/15/30			63,885
		1,000,000	AA	Series C, 4.000% due 8/15/41			951,153

See Notes to Financial Statements.

207

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Pennsylvania – (continued)
				Pennsylvania Turnpike Commission, Revenue Bonds:
	$	15,000	Aa3(a)	Series A1, 5.000% due 12/1/23		$	15,053
		45,000	Aa3(a)	Series A1, 5.000% due 12/1/29			48,468
		30,000	Aa3(a)	Series A1, 5.000% due 12/1/34			31,877
		35,000	A+	Series A2, 5.000% due 12/1/28			36,965
		35,000	A+	Series A2, 5.000% due 12/1/33			37,756
		1,300,000	Aa3(a)	Series C, 5.000% due 12/1/46			1,367,866
		20,000	A	Philadelphia Gas Works Co., Revenue Bonds, 5.000% due 8/1/24			20,262
		40,000	A1(a)	State Public School Building Authority, Revenue Bonds, 5.000% due 6/1/26			40,817
				Total Pennsylvania			24,810,750
Puerto Rico – 1.1%
				Commonwealth of Puerto Rico, GO:
		2,000,000	NR	Series A1, 4.000% due 7/1/41			1,723,214
		1,000,000	NR	Series A1, 4.000% due 7/1/46			828,992
		2,000,000	NR	Puerto Rico Commonwealth Aqueduct & Sewer Authority, Revenue Bonds, Series B, 4.000% due 7/1/42(e)			1,709,660
		1,000,000	NR	Puerto Rico Highway & Transportation Authority, Revenue Bonds, Series A, 5.000% due 7/1/62			983,750
		5,000,000	NR	Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, Revenue Bonds, Series A1, 5.000% due 7/1/58			4,839,528
				Total Puerto Rico			10,085,144
Rhode Island – 0.2%
		240,000	AA	Rhode Island Health & Educational Building Corp., Revenue Bonds, 5.000% due 5/15/25			245,860
		95,000	AA+	Rhode Island Housing & Mortgage Finance Corp., Revenue Bonds, Series 70, 4.000% due 10/1/49			93,926
				Rhode Island Student Loan Authority, Revenue Bonds:
		55,000	AA	Series A, 3.500% due 12/1/34(d)			53,143
		1,125,000	AA	Series A, 5.000% due 12/1/26(d)			1,162,066
				Tobacco Settlement Financing Corp., Revenue Bonds:
		55,000	BBB	Series A, 5.000% due 6/1/27			55,910
		70,000	BBB	Series A, 5.000% due 6/1/28			71,177
				Total Rhode Island			1,682,082
South Carolina – 1.3%
				Beaufort-Jasper Water & Sewer Authority, Revenue Bonds:
		30,000	AA+	Series B, 5.000% due 3/1/24			30,249
		30,000	AA+	Series B, 5.000% due 3/1/25			30,750

See Notes to Financial Statements.

208

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
South Carolina – (continued)
	$	8,000,000	Aa1(a)	Patriots Energy Group Financing Agency, Revenue Bonds, Series A, 4.000% due 10/1/48(b)		$	7,981,299
				Scago Educational Facilities Corp. for Colleton School District, Revenue Bonds:
		115,000	A-	5.000% due 12/1/27			117,556
		95,000	A-	5.000% due 12/1/29			96,912
				South Carolina Jobs-Economic Development Authority, Revenue Bonds:
		30,000	A+	5.000% due 2/1/24			30,146
		50,000	A+	5.000% due 2/1/25			50,832
		50,000	A+	5.000% due 2/1/26			51,460
		1,000,000	NR	7.500% due 11/15/53			991,568
		1,000,000	NR	7.750% due 11/15/58			991,473
				South Carolina Ports Authority, Revenue Bonds:
		65,000	A+	5.000% due 7/1/28(d)			68,512
		140,000	A+	5.000% due 7/1/30(d)			147,455
				South Carolina Public Service Authority, Revenue Bonds:
		185,000	A-	Series B, 5.000% due 12/1/35			189,361
		275,000	A-	Series B, 5.000% due 12/1/36			280,301
		115,000	A-	Series C, 5.000% due 12/1/25			116,659
		115,000	A-	Series C, 5.000% due 12/1/26			116,404
		90,000	A-	Series C, 5.000% due 12/1/27			90,935
				South Carolina State Housing Finance & Development Authority, Revenue Bonds:
		120,000	Aaa(a)	Series A, 4.000% due 1/1/50			118,383
		125,000	Aaa(a)	Series A, 4.000% due 7/1/50			123,331
				Total South Carolina			11,623,586
South Dakota – 0.0%
				South Dakota Health & Educational Facilities Authority, Revenue Bonds:
		15,000	AA-	5.000% due 7/1/24			15,171
		40,000	AA-	5.000% due 7/1/35			41,863
		35,000	A+	Series B, 5.000% due 11/1/24			35,493
		35,000	A+	Series B, 5.000% due 11/1/25			35,405
		5,000	A+	Series B, 5.000% due 11/1/26			5,060
				Total South Dakota			132,992
Tennessee – 1.5%
				Greeneville Health & Educational Facilities Board, Revenue Bonds:
		30,000	A-	Series A, 5.000% due 7/1/29			31,574

See Notes to Financial Statements.

209

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Tennessee – (continued)
	$	35,000	A-	Series A, 5.000% due 7/1/30		$	36,777
				Knox County Health Educational & Housing Facility Board, Revenue Bonds:
		30,000	BBB	5.000% due 4/1/24			30,184
		30,000	BBB	5.000% due 9/1/24			30,233
		40,000	BBB	5.000% due 4/1/25			40,469
		1,000,000	AA	Metropolitan Government Nashville & Davidson County Sports Authority, Revenue Bonds, Series B, AGM-Insured, 5.250% due 7/1/48			1,073,297
		1,125,000	A1(a)	Metropolitan Nashville Airport Authority, Revenue Bonds, Series B, 5.250% due 7/1/33(d)			1,245,573
				Tennergy Corp., Revenue Bonds:
		3,250,000	A1(a)	Series A, 4.000% due 12/1/51(b)			3,182,989
		6,240,000	Aa1(a)	Series A, 5.000% due 2/1/50(b)			6,284,989
		1,225,000	AA+	Tennessee Housing Development Agency, Revenue Bonds, Series 2B, 3.950% due 1/1/38			1,219,016
				Total Tennessee			13,175,101
Texas – 12.1%
		1,765,000	AAA	Academy Independent School District, GO, PSF-GTD-Insured, 5.000% due 8/15/43			1,894,606
		1,895,000	AAA	Alamo Community College District, GO, 5.000% due 8/15/34			2,018,882
		1,500,000	Aaa(a)	Brazosport Independent School District, GO, PSF-GTD-Insured, 4.000% due 2/15/33			1,523,716
				Central Texas Regional Mobility Authority, Revenue Bonds:
		35,000	A	Series A, Prerefunded 7/1/25 @ 100, 5.000% due 1/1/31(f)			35,941
		30,000	A	Series A, Prerefunded 7/1/25 @ 100, 5.000% due 1/1/32(f)			30,807
		60,000	A	Series A, Prerefunded 7/1/25 @ 100, 5.000% due 1/1/34(f)			61,614
		160,000	A	Series A, Prerefunded 7/1/25 @ 100, 5.000% due 1/1/40(f)			164,304
		600,000	A	Series B, 4.000% due 1/1/41			564,265
		375,000	A	Series B, 5.000% due 1/1/29			401,355
		1,800,000	A	Series E, 5.000% due 1/1/38			1,887,782
		1,770,000	AAA	City of Austin TX, GO, 5.000% due 5/1/27			1,884,055
				City of Austin TX Airport System Revenue, Revenue Bonds:
		165,000	A+	5.000% due 11/15/26(d)			166,302
		80,000	A+	5.000% due 11/15/29(d)			80,742
		45,000	AA-	City of Austin TX Electric Utility Revenue, Revenue Bonds, Series A, 5.000% due 11/15/23			45,051
		170,000	AA-	City of Dallas TX, GO, 5.000% due 2/15/24			171,250
		3,835,000	AAA	City of Dallas TX Waterworks & Sewer System Revenue, Revenue Bonds, Series A, 5.000% due 10/1/32			3,945,793

See Notes to Financial Statements.

210

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Texas – (continued)
	$	995,000	AA+	City of El Paso TX Water & Sewer Revenue, Revenue Bonds, 5.000% due 3/1/41		$	1,051,708
				City of Houston TX, GO:
		290,000	Aa3(a)	Series A, 5.000% due 3/1/24			292,198
		120,000	Aa3(a)	Series A, 5.000% due 3/1/25			122,879
				City of Houston TX Airport System Revenue, Revenue Bonds:
		50,000	A1(a)	Series A, 5.000% due 7/1/26(d)			51,445
		60,000	A1(a)	Series A, 5.000% due 7/1/27(d)			62,510
		30,000	A1(a)	Series A, 5.000% due 7/1/28(d)			31,634
		90,000	A1(a)	Series B, 5.000% due 7/1/28			97,503
		360,000	A1(a)	Series B, 5.000% due 7/1/29			388,319
		1,500,000	A1(a)	Series D, 5.000% due 7/1/25			1,539,547
		2,005,000	A1(a)	Series D, 5.000% due 7/1/26			2,099,533
				City of Houston TX Combined Utility System Revenue, Revenue Bonds:
		3,000,000	Aa2(a)	Series B, 4.000% due 11/15/31			3,036,429
		70,000	Aa2(a)	Series B, 5.000% due 11/15/33			73,555
		75,000	AA	Series C, 5.000% due 5/15/28			75,849
				City of San Antonio TX Airport System, Revenue Bonds:
		500,000	A	Series A, 5.000% due 7/1/27(d)			520,558
		480,000	A+	Series A, 5.000% due 7/1/28(d)			506,148
				City of San Antonio TX Electric & Gas Systems Revenue, Revenue Bonds:
		1,000,000	A+	1.750% due 2/1/49(b)			936,509
		500,000	A+	4.000% due 2/1/43			469,530
		45,000	AA-	5.000% due 2/1/29			48,172
		30,000	AA-	5.000% due 2/1/30			32,013
		45,000	AA-	5.000% due 2/1/31			48,012
		35,000	AA-	5.000% due 2/1/33			37,225
		2,500,000	A+	5.000% due 2/1/34			2,510,869
		750,000	A+	5.000% due 2/1/42			798,429
		90,000	AA-	5.250% due 2/1/25			92,263
		3,000,000	Baa3(a)	Clifton Higher Education Finance Corp., Revenue Bonds, Series D, 6.125% due 8/15/48			2,994,226
		3,000,000	Aaa(a)	Comal Independent School District, GO, PSF-GTD-Insured, 5.000% due 2/1/27			3,174,121
		2,345,000	AAA	Community Independent School District/TX, GO, PSF-GTD-Insured, 5.000% due 2/15/41			2,545,516
		2,790,000	AAA	County of Harris TX, GO, Series A, 5.000% due 10/1/28			2,865,541

See Notes to Financial Statements.

211

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Texas – (continued)
				County of Travis TX, GO:
	$	85,000	AAA	Series A, 5.000% due 3/1/24		$	85,677
		1,490,000	AAA	Series A, 5.000% due 3/1/38			1,584,579
		2,215,000	AAA	County of Williamson TX, GO, 5.000% due 2/15/30			2,342,423
				Cypress-Fairbanks Independent School District, GO:
		1,975,000	AAA	4.000% due 2/15/32			1,995,180
		725,000	AAA	5.000% due 2/15/24			730,331
		620,000	AAA	5.000% due 2/15/25			634,405
		105,000	AAA	5.000% due 2/15/27			109,182
		1,000,000	AAA	Series A, 3.400% due 2/15/31			961,503
				Dallas Area Rapid Transit, Revenue Bonds:
		210,000	AA+	5.250% due 12/1/29			235,179
		2,500,000	AA+	Series B, 5.000% due 12/1/47			2,632,674
		185,000	A2(a)	Dallas County Utility & Reclamation District, GO, 5.000% due 2/15/24			186,115
		1,500,000	A1(a)	Dallas Fort Worth International Airport, Revenue Bonds, Series B, 5.000% due 11/1/40(c)			1,608,708
				Eagle Mountain & Saginaw Independent School District, GO:
		1,270,000	Aaa(a)	5.000% due 8/15/29			1,405,619
		1,000,000	Aaa(a)	5.000% due 8/15/30			1,116,642
		105,000	AAA	Fort Worth Independent School District, GO, PSF-GTD-Insured, 5.000% due 2/15/26			109,229
				Georgetown Independent School District, GO:
		1,000,000	AAA	3.750% due 8/15/41			917,963
		1,000,000	AAA	3.875% due 8/15/44			899,472
		1,495,000	AAA	4.125% due 8/15/47			1,463,489
				Grand Parkway Transportation Corp., Revenue Bonds:
		150,000	AA+	Series A, 5.000% due 10/1/31			162,026
		125,000	AA+	Series A, 5.000% due 10/1/32			134,695
		190,000	AA+	Series A, 5.000% due 10/1/33			204,316
		145,000	AA+	Series A, 5.000% due 10/1/34			155,403
		70,000	BBB+	Series A, 5.125% due 10/1/43			70,075
				Harris County Cultural Education Facilities Finance Corp., Revenue Bonds:
		1,025,000	A+	5.000% due 6/1/24			1,035,624
		1,500,000	A+	5.000% due 7/1/39			1,525,568
		315,000	A+	5.000% due 7/1/49(b)			319,352
				Irving Hospital Authority, Revenue Bonds:
		15,000	A+	Series A, 5.000% due 10/15/24			15,213

See Notes to Financial Statements.

212

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Texas – (continued)
	$	20,000	A+	Series A, 5.000% due 10/15/26		$	20,563
		15,000	A+	Series A, 5.000% due 10/15/27			15,456
		20,000	A+	Series A, 5.000% due 10/15/29			20,610
		30,000	A+	Series A, 5.000% due 10/15/31			30,768
		40,000	A+	Series A, 5.000% due 10/15/35			40,768
		30,000	A+	Series A, 5.000% due 10/15/36			30,440
		35,000	A+	Series A, 5.000% due 10/15/39			35,184
		45,000	A+	Series A, 5.000% due 10/15/44			44,209
				Lamar Consolidated Independent School District, GO:
		7,280,000	AAA	5.000% due 2/15/31			7,691,666
		7,050,000	AAA	5.000% due 2/15/34			7,404,408
		2,000,000	AAA	Leander Independent School District, GO, PSF-GTD-Insured, 5.000% due 8/15/27			2,061,506
		1,225,000	AA+	Lewisville Independent School District, GO, Series B, 5.000% due 8/15/28			1,262,469
				Love Field Airport Modernization Corp., Revenue Bonds:
		40,000	A	5.000% due 11/1/30(d)			40,589
		90,000	A	5.000% due 11/1/31(d)			91,157
				Lower Colorado River Authority, Revenue Bonds:
		200,000	A	5.000% due 5/15/26			207,926
		135,000	A	5.000% due 5/15/32			144,672
		70,000	A	5.000% due 5/15/34			74,689
		70,000	A	5.000% due 5/15/36			73,921
		195,000	A	Series B, 5.000% due 5/15/25			200,377
		85,000	A	Series B, 5.000% due 5/15/27			86,875
		85,000	A	Series B, 5.000% due 5/15/28			86,945
		245,000	A	Series B, 5.000% due 5/15/29			250,606
		35,000	A	Series D, 5.000% due 5/15/24			35,387
		40,000	A	Series D, 5.000% due 5/15/26			40,829
		1,000,000	Aaa(a)	Malakoff Independent School District, GO, PSF-GTD-Insured, 5.000% due 2/15/30			1,117,871
		2,500,000	BB-	Mission Economic Development Corp., Revenue Bonds, 4.625% due 10/1/31(d)(e)			2,438,266
				New Hope Cultural Education Facilities Finance Corp., Revenue Bonds:
		60,000	Aa3(a)	Series A, 5.000% due 8/15/24			60,799
		45,000	Aa3(a)	Series A, 5.000% due 8/15/26			47,002
		45,000	Aa3(a)	Series A, 5.000% due 8/15/27			47,741
		70,000	Aa3(a)	Series A, 5.000% due 8/15/30			74,426

See Notes to Financial Statements.

213

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Texas – (continued)
				Newark Higher Education Finance Corp., Revenue Bonds:
	$	65,000	A3(a)	5.000% due 4/1/27		$	67,049
		40,000	A3(a)	5.000% due 4/1/28			41,338
		1,000,000	Aaa(a)	North East Independent School District, GO, Series A PSF-GTD-Insured, 4.000% due 8/1/41			983,213
				North Harris County Regional Water Authority, Revenue Bonds:
		30,000	AA-	4.000% due 12/15/23			30,009
		55,000	AA-	4.000% due 12/15/24			55,018
		2,000,000	NR	North Parkway Municipal Management District No 1, Special Assessment, 5.000% due 9/15/51(e)			1,793,526
				North Texas Tollway Authority, Revenue Bonds:
		145,000	NR	5.000% due 1/1/24			145,723
		35,000	AA-	Series A, 5.000% due 1/1/30			36,335
		40,000	AA-	Series A, 5.000% due 1/1/33			42,043
		200,000	AA-	Series A, 5.000% due 1/1/39			203,907
		185,000	A+	Series B, 5.000% due 1/1/25			188,699
		160,000	AA-	Series B, 5.000% due 1/1/30			162,775
		20,000	A+	Series B, 5.000% due 1/1/31			20,703
		85,000	A+	Series B, 5.000% due 1/1/32			89,374
		1,000,000	AAA	Pecos Barstow Toyah Independent School District, GO, PSF-GTD-Insured, 5.000% due 2/15/38			1,026,563
		50,000	Aaa(a)	Permanent University Fund – University of Texas System, Revenue Bonds, Series B, 5.000% due 7/1/29			52,188
		1,500,000	NR	Port Beaumont Navigation District, Revenue Bonds, 4.000% due 1/1/50(d)(e)			1,047,459
		50,000	AAA	Rockwall Independent School District, GO, PSF-GTD-Insured, zero coupon, due 2/15/25			47,470
		1,195,000	Aaa(a)	San Antonio Independent School District, GO, Series A PSF-GTD-Insured, 5.000% due 8/1/28			1,256,526
		2,000,000	AA+	San Antonio Water System, Revenue Bonds, Series A, 5.000% due 5/15/36			2,131,054
				San Jacinto Community College District, GO:
		450,000	AA	5.000% due 2/15/29			487,887
		435,000	AA	5.000% due 2/15/30			476,652
				State of Texas, GO:
		2,500,000	AAA	5.000% due 10/1/24			2,522,495
		150,000	AAA	5.000% due 8/1/26(d)			151,555
		200,000	AAA	5.500% due 8/1/26(d)			210,701
		350,000	AAA	Series B, 5.000% due 8/1/25(d)			350,330

See Notes to Financial Statements.

214

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Texas – (continued)
				Tarrant County Cultural Education Facilities Finance Corp., Revenue Bonds:
	$	165,000	AA	5.000% due 2/15/25		$	168,412
		60,000	AA	5.000% due 2/15/34			62,387
		155,000	A3(a)	Series Prerefunded 9/1/23 @ 100, 5.500% due 9/1/43(f)			155,000
				Texas Department of Housing & Community Affairs, Revenue Bonds:
		395,702	Aaa(a)	2.950% due 7/1/36			346,630
		300,000	AA+	Series A, 4.000% due 3/1/50			295,893
		600,000	AA+	Texas Public Finance Authority, Revenue Bonds, 5.000% due 2/1/28			643,688
		135,000	Aa2(a)	Texas State University System, Revenue Bonds, Series A, 5.000% due 3/15/29			142,983
				Texas Water Development Board, Revenue Bonds:
		2,000,000	AAA	4.650% due 10/15/40			2,117,913
		1,000,000	AAA	5.000% due 10/15/25			1,035,993
		180,000	AAA	Series A, 5.000% due 4/15/25			184,740
		75,000	AAA	Series A, 5.000% due 10/15/25			77,699
		125,000	AAA	Series A, 5.000% due 4/15/26			130,757
		190,000	AAA	Series A, 5.000% due 4/15/29			203,052
		505,000	AAA	Series A, 5.000% due 4/15/30			539,793
		190,000	AA	University of Houston, Revenue Bonds, Series A, 5.000% due 2/15/30			196,864
		1,095,000	Aaa(a)	Wink-Loving Independent School District, GO, PSF-GTD-Insured, 5.000% due 2/15/27			1,102,131
				Total Texas			108,822,000
Utah – 0.5%
				City of Salt Lake City UT Airport Revenue, Revenue Bonds:
		35,000	A+	Series A, 5.000% due 7/1/26(d)			36,011
		115,000	A+	Series A, 5.000% due 7/1/28(d)			119,639
		155,000	A+	Series A, 5.000% due 7/1/30(d)			163,254
		1,250,000	AA	City of Vineyard UT Water & Sewer Revenue, Revenue Bonds, 5.000% due 5/1/43			1,336,507
		1,400,000	A2(a)	Duchesne County School District, Revenue Bonds, 5.000% due 6/1/37			1,469,791
		1,270,000	NR	Mida Mountain Village Public Infrastructure District, Special Assessment, 4.000% due 8/1/50(e)			937,499
				Total Utah			4,062,701
Vermont – 0.2%
				Vermont Student Assistance Corp., Revenue Bonds:
		750,000	A	Series A, 5.000% due 6/15/29(d)			773,274
		675,000	A	Series A, 5.000% due 6/15/30(d)			698,025
				Total Vermont			1,471,299

See Notes to Financial Statements.

215

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Virgin Islands – 0.2%
	$	1,500,000	NR	Matching Fund Special Purpose Securitization Corp., Revenue Bonds, Series A, 5.000% due 10/1/39		$	1,486,867
Virginia – 2.5%
		195,000	A+	Arlington County Industrial Development Authority, Revenue Bonds, 5.000% due 7/1/32			213,056
		2,635,000	AAA	City of Suffolk VA, GO, Series A, 5.000% due 2/1/27			2,802,829
		5,000,000	AAA	Commonwealth of Virginia, GO, Series B, 4.000% due 6/1/24			5,002,470
		2,000,000	AAA	County of Fairfax VA Sewer Revenue, Revenue Bonds, Series A, 5.000% due 7/15/46			2,160,333
				Fredericksburg Economic Development Authority, Revenue Bonds:
		40,000	A3(a)	5.000% due 6/15/27			40,265
		40,000	A3(a)	5.000% due 6/15/29			40,296
		45,000	A3(a)	5.000% due 6/15/33			45,302
		3,180,000	AA	Hampton Roads Transportation Accountability Commission, Revenue Bonds, Series A, Prerefunded 1/1/28 @ 100, 5.000% due 7/1/35(f)			3,445,341
		320,000	AA	Norfolk Economic Development Authority, Revenue Bonds, Series B, 5.000% due 11/1/48(b)			344,483
		2,000,000	NR	Peninsula Town Center Community Development Authority, Special Assessment, 4.500% due 9/1/45(e)			1,732,860
				Stafford County Economic Development Authority, Revenue Bonds:
		20,000	A3(a)	4.000% due 6/15/37			18,655
		50,000	A3(a)	5.000% due 6/15/32			51,496
		65,000	A3(a)	5.000% due 6/15/34			66,848
		3,000,000	B-	Tobacco Settlement Financing Corp., Revenue Bonds, Series B1, 5.000% due 6/1/47			2,753,893
				Virginia College Building Authority, Revenue Bonds:
		1,670,000	AA+	5.000% due 2/1/25			1,710,464
		165,000	AA+	Series D, 5.000% due 2/1/26			172,061
		265,000	AA+	Series E, 5.000% due 2/1/30			286,606
		305,000	AA+	Series E, 5.000% due 2/1/31			329,414
		360,000	AA+	Virginia Commonwealth Transportation Board, Revenue Bonds, Series A, 5.000% due 5/15/30			386,346
		500,000	AAA	Virginia Resources Authority, Revenue Bonds, Series C, 5.000% due 11/1/29			559,665
				Winchester Economic Development Authority, Revenue Bonds:
		60,000	A+	5.000% due 1/1/32			61,611
		75,000	A+	5.000% due 1/1/33			76,938
				Total Virginia			22,301,232

See Notes to Financial Statements.

216

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Washington – 4.0%
	$	60,000	AA	Chelan County Public Utility District No 1, Revenue Bonds, Series A, NPFG, zero coupon, due 6/1/24		$	58,461
				City of Tacoma WA Electric System Revenue, Revenue Bonds:
		30,000	AA	5.000% due 1/1/29			31,643
		35,000	AA	5.000% due 1/1/36			36,413
		1,000,000	Aaa(a)	Franklin County School District No 1 Pasco, GO, 4.250% due 12/1/42			997,484
				Port of Seattle WA, Revenue Bonds:
		35,000	AA-	5.000% due 2/1/27			36,314
		70,000	AA-	5.000% due 2/1/29			72,612
		85,000	AA-	Series A, 5.000% due 5/1/29(d)			88,447
		1,000,000	AA	Series B, 5.000% due 10/1/26(d)			1,026,372
		980,000	AA	Series B, 5.000% due 10/1/27(d)			1,005,121
		135,000	AA	Series B, 5.000% due 10/1/29(d)			138,461
				State of Washington, GO:
		50,000	AA+	Series 2017A, 5.000% due 8/1/27			52,432
		3,430,000	AA+	Series A, 5.000% due 8/1/32			3,722,933
		7,500,000	AA+	Series A3, 5.000% due 8/1/45			8,078,594
		2,500,000	AA+	Series B, 5.000% due 6/1/44			2,713,987
		5,000,000	AA+	Series C, 5.000% due 2/1/33			5,487,479
		2,500,000	AA+	Series E, 5.000% due 6/1/43			2,682,194
		50,000	AA+	Series R2017A, 5.000% due 8/1/28			52,475
		50,000	AA+	Series R2017A, 5.000% due 8/1/30			52,305
		355,000	AA+	Series R2018C, 5.000% due 8/1/30			379,865
		640,000	AA+	Series R2018D, 5.000% due 8/1/33			678,773
		5,000,000	AA+	Series R2018D, 5.000% due 8/1/35			5,280,389
		100,000	A	Tobacco Settlement Authority, Revenue Bonds, 5.000% due 6/1/24			100,051
				Washington Health Care Facilities Authority, Revenue Bonds:
		60,000	BBB+	5.000% due 7/1/26			60,566
		70,000	A	5.000% due 10/1/27			73,253
		60,000	A	5.000% due 10/1/28			63,602
		90,000	BBB+	5.000% due 7/1/29			89,749
		20,000	BBB+	5.000% due 7/1/34			19,857
		780,000	BBB+	5.000% due 7/1/42			735,082
		115,000	A	Series A, 5.000% due 10/1/24			115,050
		440,000	A-	Series A, 5.000% due 8/1/39			452,301
		40,000	A2(a)	Series Prerefunded 7/1/25 @ 100, 5.000% due 1/1/29(f)			41,219

See Notes to Financial Statements.

217

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Face Amount/Units			Rating††	Security	Value
MUNICIPAL BONDS – (continued)
Washington – (continued)
				Washington Higher Education Facilities Authority, Revenue Bonds:
	$	15,000	Baa1(a)	Series A, 5.000% due 10/1/29		$	15,402
		35,000	Baa1(a)	Series A, 5.000% due 10/1/30			35,903
		40,000	Baa1(a)	Series A, 5.000% due 10/1/31			41,000
		210,000	Baa1(a)	Series A, 5.000% due 10/1/33			214,652
		2,000,000	BB+	Washington State Convention Center Public Facilities District, Revenue Bonds, 3.000% due 7/1/48			1,383,921
				Total Washington			36,114,362
West Virginia – 1.5%
				State of West Virginia, GO:
		10,000,000	AA-	Series B, 5.000% due 12/1/34			10,793,594
		2,000,000	AA-	Series B, 5.000% due 6/1/35			2,150,846
		190,000	BBB+	West Virginia Hospital Finance Authority, Revenue Bonds, 5.000% due 1/1/33			193,503
				Total West Virginia			13,137,943
Wisconsin – 1.1%
		3,385,000	AAA	County of Dane WI, GO, Series A, 3.000% due 6/1/25			3,345,663
				Public Finance Authority, Revenue Bonds:
		2,000,000	NR	4.250% due 7/1/54(d)			1,376,019
		160,000	A	5.000% due 1/1/31			169,651
		500,000	BB	Series A, 5.000% due 10/1/39(e)			473,019
		1,500,000	AA	Racine Unified School District, GO, AGM-Insured, 5.000% due 4/1/38			1,616,152
				Wisconsin Health & Educational Facilities Authority, Revenue Bonds:
		400,000	A2(a)	5.000% due 10/1/23			400,388
		255,000	A+	5.000% due 11/15/24			259,018
		25,000	A-	5.000% due 5/1/26			25,126
		50,000	A3(a)	5.000% due 6/1/27			50,025
		195,000	A+	5.000% due 11/15/27			197,657
		50,000	A-	5.000% due 5/1/28			50,326
		25,000	A-	5.000% due 5/1/29			25,168
		30,000	A3(a)	5.000% due 6/1/32			30,005
		70,000	A3(a)	5.000% due 6/1/39			66,704
		1,190,000	AA	Series B3, 5.000% due 8/15/54(b)			1,196,614
		380,000	AA+	Wisconsin Housing & Economic Development Authority Home Ownership Revenue, Revenue Bonds, Series A, 3.500% due 9/1/50			369,645
				Total Wisconsin			9,651,180
				TOTAL MUNICIPAL BONDS (Cost – $837,384,870)			817,915,274

See Notes to Financial Statements.

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August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (continued)

Shares/Units		Security	Value
EXCHANGE TRADED FUND (ETF) – 3.4%
	618,324	Vanguard Tax-Exempt Bond Index (Cost – $31,027,597)		$	30,594,672
		TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS (Cost – $868,412,467)			848,509,946

Face Amount
SHORT-TERM INVESTMENTS – 4.7%
MUNICIPAL BOND – 0.2%
	$	1,750,000	Crowley Independent School District, GO, PSF-GTD-Insured, 5.000% due 2/1/24 (Cost – $1,760,495)		1,760,928
TIME DEPOSITS – 4.5%
		1,076,619	ANZ National Bank – London, 4.680% due 9/1/23		1,076,619
		22,775,972	Citibank – New York, 4.680% due 9/1/23		22,775,972
		1,425,736	JPMorgan Chase & Co. – New York, 4.680% due 9/1/23		1,425,736
		15,042,355	Sumitomo Mitsui Banking Corp. – Tokyo, 4.680% due 9/1/23		15,042,355
			TOTAL TIME DEPOSITS (Cost – $40,320,682)		40,320,682
			TOTAL SHORT-TERM INVESTMENTS (Cost – $42,081,177)		42,081,610
			TOTAL INVESTMENTS – 99.4% (Cost – $910,493,644)		890,591,556
			Other Assets in Excess of Liabilities – 0.6%		5,613,823
			TOTAL NET ASSETS – 100.0%	$	896,205,379

††

All ratings are by Standard & Poor’s Rating Service, unless otherwise noted.

(a)

Rating by Moody’s Investors Service. All ratings are unaudited.

(b)

Variable rate security. Interest rate disclosed is that which was in effect at August 31, 2023.

(c)

When-Issued or delayed delivery security.

(d)

Income from this issue is considered a preference item for purposes of calculating the alternative minimum tax (AMT).

(e)

(f)

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.

(g)

Rating by Fitch Ratings Service. All ratings are unaudited.

Abbreviations used in this schedule:

AGM

— Assured Guaranty Municipal Corporation

COP

— Certificate of Participation

ETF

— Exchange Traded Fund

— General Obligation

MTA

— Metropolitan Transportation Authority

NPFG

— National Public Finance Guarantee Corporation

PSF-GTD

— Permanent School Fund Guaranteed

See Notes to Financial Statements.

219

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August 31, 2023 (unaudited)

Destinations Municipal Fixed Income Fund (concluded)

Summary of Investments by Security Industry^

	General Obligation					38.7%
	Education					13.0
	Water and Sewer					9.6
	Health Care Providers & Services					7.9
	Airport					5.9
	Development					5.8
	Transportation					4.8
	Power					1.6
	Tobacco Settlement					1.0
	Utilities					0.9
	Single Family Housing					0.8
	Multifamily Housing					0.7
	Bond Bank					0.4
	Student Loan					0.3
	Pollution					0.3
	Nursing Homes					0.2
	Exchange Traded Funds (ETFs)					3.4
	Short-Term Investments					4.7
						100.0%

As a percentage of total investments.

At August 31, 2023, Destinations Municipal Fixed Income Fund had open exchange traded futures contracts as described below.

The unrealized (depreciation) on the open contracts reflected in the accompanying financial statements were as follows:

Open Futures Contracts	Number of Contracts		Expiration Date (Month/Year)		Notional Amounts			Market Value			Unrealized (Depreciation)
Contracts to Sell:
U.S. Long Bond (CBT)		6		12/23		$	(711,047)		$	730,125		$	(19,078)

At August 31, 2023, Destinations Municipal Fixed Income Fund had deposited cash of $39,853 with a broker or brokers as margin collateral on open exchange traded futures contracts.

See Notes to Financial Statements.

220

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Multi Strategy Alternatives Fund

Face Amount/Units			Security	Value
COLLATERALIZED MORTGAGE OBLIGATIONS – 21.1%
	$	1,954,088	Adjustable Rate Mortgage Trust, Series 2005-2, Class 6M2, 6.409% (1-Month TSFR + 1.094%) due 6/25/35(a)		$	1,935,821
		1,912,557	Alternative Loan Trust, Series 2005-61, Class 2A2, 6.189% (1-Month TSFR + 0.874%) due 12/25/35(a)			1,691,943
		635,672	Bear Stearns ALT-A Trust, Series 2006-8, Class 3A1, 5.749% (1-Month TSFR + 0.434%) due 2/25/34(a)			569,319
			Connecticut Avenue Securities Trust:
		8,200,000	Series 2019-HRP1, Class B1, 14.652% (SOFR30A + 9.364%) due 11/25/39(a)(b)			8,853,815
		6,734,000	Series 2019-R01, Class 2B1, 9.752% (SOFR30A + 4.464%) due 7/25/31(a)(b)			7,127,846
		3,185,510	Deutsche Alternative-A Securities Mortgage Loan Trust, Series 2007-OA5, Class A1A, 5.629% (1-Month TSFR + 0.314%) due 8/25/47(a)			2,846,235
			Federal National Mortgage Association (FNMA), Connecticut Avenue Securities:
		531,345	Series 2016-C01, Class 1B, 17.152% (SOFR30A + 11.864%) due 8/25/28(a)@			599,530
		3,393,859	Series 2016-C02, Class 1B, 17.652% (SOFR30A + 12.364%) due 9/25/28(a)@			3,931,388
		486,117	Series 2016-C03, Class 1B, 17.152% (SOFR30A + 11.864%) due 10/25/28(a)@			555,068
		2,773,104	Series 2016-C03, Class 2M2, 11.302% (SOFR30A + 6.014%) due 10/25/28(a)@			2,953,356
		1,261,418	Series 2016-C04, Class 1B, 15.652% (SOFR30A + 10.364%) due 1/25/29(a)@			1,387,062
		4,648,823	Series 2016-C06, Class 1B, 14.652% (SOFR30A + 9.364%) due 4/25/29(a)@			4,993,963
		5,234,000	Series 2017-C02, Class 2B1, 10.902% (SOFR30A + 5.614%) due 9/25/29(a)@			5,778,825
		2,556,684	FNBA Mortgage Loan Trust, Series 2004-AR1, Class M2, 7.078% (1-Month TSFR + 1.764%) due 8/19/34(a)			2,556,514
			Freddie Mac STACR REMIC Trust:
		5,438,000	Series 2020-DNA1, Class B2, 10.652% (SOFR30A + 5.364%) due 1/25/50(a)(b)			5,439,695
		3,780,000	Series 2020-DNA5, Class B2, 16.788% (SOFR30A + 11.500%) due 10/25/50(a)(b)			4,857,431
		5,600,000	Series 2020-DNA6, Class B2, 10.938% (SOFR30A + 5.650%) due 12/25/50(a)(b)			5,708,453
		3,160,898	Series 2020-HQA3, Class B1, 11.152% (SOFR30A + 5.864%) due 7/25/50(a)(b)			3,429,306
		1,280,000	Series 2020-HQA3, Class B2, 15.402% (SOFR30A + 10.114%) due 7/25/50(a)(b)			1,631,651
		1,260,000	Series 2020-HQA4, Class B2, 14.802% (SOFR30A + 9.514%) due 9/25/50(a)(b)			1,548,689

See Notes to Financial Statements.

221

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Multi Strategy Alternatives Fund (continued)

Face Amount/Units			Security	Value
COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)
	$	3,060,000	Series 2021-DNA5, Class B2, 10.788% (SOFR30A + 5.500%) due 1/25/34(a)(b)		$	2,861,515
		2,601,000	Series 2021-HQA1, Class B2, 10.288% (SOFR30A + 5.000%) due 8/25/33(a)(b)			2,491,507
		2,990,000	Series 2021-HQA2, Class B2, 10.738% (SOFR30A + 5.450%) due 12/25/33(a)(b)			2,882,613
			Freddie Mac STACR Trust:
		5,000,000	Series 2019-DNA1, Class B1, 10.052% (SOFR30A + 4.764%) due 1/25/49(a)(b)			5,494,640
		5,000,000	Series 2019-DNA2, Class B1, 9.752% (SOFR30A + 4.464%) due 3/25/49(a)(b)			5,359,400
		5,000,000	Series 2019-DNA2, Class B2, 15.902% (SOFR30A + 10.614%) due 3/25/49(a)(b)			5,873,833
		4,870,000	Series 2019-DNA3, Class B2, 13.552% (SOFR30A + 8.264%) due 7/25/49(a)(b)			5,317,312
		4,588,000	Series 2019-DNA4, Class B2, 11.652% (SOFR30A + 6.364%) due 10/25/49(a)(b)			4,784,414
		5,800,000	Series 2019-FTR1, Class B2, 13.752% (SOFR30A + 8.464%) due 1/25/48(a)(b)			6,539,877
		4,349,000	Series 2019-FTR4, Class B2, 10.402% (SOFR30A + 5.114%) due 11/25/47(a)(b)			4,181,567
		5,620,000	Series 2019-HQA1, Class B1, 9.802% (SOFR30A + 4.514%) due 2/25/49(a)(b)			6,067,858
		4,030,000	Series 2019-HQA1, Class B2, 17.652% (SOFR30A + 12.364%) due 2/25/49(a)(b)			4,895,463
		5,500,000	Series 2019-HQA2, Class B1, 9.502% (SOFR30A + 4.214%) due 4/25/49(a)(b)			5,835,170
		5,000,000	Series 2019-HRP1, Class B2, 14.902% (SOFR30A + 9.614%) due 2/25/49(a)(b)			5,244,700
			Freddie Mac Structured Agency Credit Risk Debt Notes:
		5,247,263	Series 2015-DNA2, Class B, 12.952% (SOFR30A + 7.664%) due 12/25/27(a)			5,387,924
		1,910,708	Series 2016-DNA1, Class B, 15.402% (SOFR30A + 10.114%) due 7/25/28(a)			2,124,090
		1,066,687	Series 2016-DNA4, Class B, 14.002% (SOFR30A + 8.714%) due 3/25/29(a)@			1,148,261
		1,981,663	Series 2016-HQA3, Class B, 14.402% (SOFR30A + 9.114%) due 3/25/29(a)@			2,159,542
		553,949	Series 2017-DNA2, Class B2, 16.652% (SOFR30A + 11.364%) due 10/25/29(a)			641,270
		4,000,000	Series 2017-DNA3, Class B1, 9.852% (SOFR30A + 4.564%) due 3/25/30(a)			4,338,826

See Notes to Financial Statements.

222

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Multi Strategy Alternatives Fund (continued)

Face Amount/Units			Security	Value
COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)
	$	4,290,000	Series 2017-HQA3, Class B1, 9.852% (SOFR30A + 4.564%) due 4/25/30(a)@		$	4,633,200
		1,010,000	Series 2021-DNA2, Class B2, 11.288% (SOFR30A + 6.000%) due 8/25/33(a)(b)			1,041,540
		2,448,030	HomeBanc Mortgage Trust, Series 2005-4, Class M3, 6.239% (1-Month TSFR + 0.924%) due 10/25/35(a)			2,150,336
		3,512,248	IndyMac INDX Mortgage Loan Trust, Series 2006-FLX1, Class A1, 5.849% (1-Month TSFR + 0.534%) due 11/25/36(a)			3,348,698
			STACR Trust:
		5,124,057	Series 2018-HRP1, Class B1, 9.152% (SOFR30A + 3.864%) due 4/25/43(a)(b)			5,264,968
		4,745,653	Series 2018-HRP1, Class B2, 17.152% (SOFR30A + 11.864%) due 5/25/43(a)(b)			5,500,949
			TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost – $168,207,490)			173,965,383
ASSET-BACKED SECURITIES – 15.3%
		1,685,537	Aames Mortgage Investment Trust, Series 2005-4, Class M3, 6.209% (1-Month TSFR + 0.894%) due 10/25/35(a)			1,645,589
		3,115,045	ABFC Trust, Series 2003-OPT1, Class A3, 6.109% (1-Month TSFR + 0.794%) due 4/25/33(a)			2,934,163
		2,430,000	Accredited Mortgage Loan Trust, Series 2006-2, Class M1, 5.699% (1-Month TSFR + 0.384%) due 9/25/36(a)			2,219,686
		4,000,000	AGL Core CLO 2 Ltd., Series 2019-2A, Class A1, 6.978% (3-Month TSFR + 1.652%) due 4/20/32(a)(b)			3,990,000
		2,500,000	Allegro CLO IX Ltd., Series 2018-3A, Class B2, 7.270% (3-Month TSFR + 1.962%) due 10/16/31(a)(b)			2,464,331
		5,000,000	Anchorage Capital CLO 18 Ltd., Series 2021-18A, Class A1, 6.720% (3-Month TSFR + 1.412%) due 4/15/34(a)(b)			4,949,642
		1,101,444	Asset Backed Securities Corp. Home Equity Loan Trust, Series 2007-HE1, Class A4, 3.805% (1-Month TSFR + 0.254%) due 12/25/36(a)			1,054,656
		5,475,000	Buckhorn Park CLO Ltd., Series 2019-1A, Class B1R, 7.222% (3-Month TSFR + 1.912%) due 7/18/34(a)(b)			5,412,073
		2,274,842	Carrington Mortgage Loan Trust, Series 2006-NC3, Class A3, 5.579% (1-Month TSFR + 0.264%) due 8/25/36(a)			2,127,021
		2,052,013	CHEC Loan Trust, Series 2004-1, Class A3, 6.429% (1-Month TSFR + 1.114%) due 7/25/34(a)(b)			1,951,259
		910,968	Countrywide Asset-Backed Certificates, Series 2004-2, Class M1, 6.179% (1-Month TSFR + 0.864%) due 5/25/34(a)			900,511
		427,809	CWABS Asset-Backed Certificates Trust, Series 2007-2, Class 2A3, 5.569% (1-Month TSFR + 0.254%) due 8/25/37(a)			421,781
		162,071	CWABS Inc. Asset-Backed Certificates Trust, Series 2007-12, Class 2A3, 6.229% (1-Month TSFR + 0.914%) due 8/25/47(a)			160,139

See Notes to Financial Statements.

223

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August 31, 2023 (unaudited)

Destinations Multi Strategy Alternatives Fund (continued)

Face Amount/Units			Security	Value
ASSET-BACKED SECURITIES – (continued)
	$	1,586,345	Ellington Loan Acquisition Trust, Series 2007-1, Class A1, 6.529% (1-Month TSFR + 1.214%) due 5/25/37(a)(b)		$	1,502,310
		2,699,242	EquiFirst Mortgage Loan Trust, Series 2003-2, Class 1A1, 6.552% (1-Month TSFR + 1.239%) due 9/25/33(a)			2,568,315
		4,362,494	Fremont Home Loan Trust, Series 2003-A, Class M1, 6.404% (1-Month TSFR + 1.089%) due 8/25/33(a)			4,309,341
		2,370,000	Home Equity Asset Trust, Series 2005-6, Class M5, 6.374% (1-Month TSFR + 1.059%) due 12/25/35(a)			2,155,374
		3,000,000	HPS Loan Management Ltd., Series 9A-2016, Class A2R, 7.282% (3-Month TSFR + 1.962%) due 7/19/30(a)(b)			2,965,360
		6,500,000	Invesco CLO Ltd., Series 2022-3A, Class B, 8.096% (3-Month TSFR + 2.750%) due 10/22/35(a)(b)			6,521,848
		1,697,106	JP Morgan Mortgage Acquisition Trust, Series 2007-CH4, Class A5, 5.669% (1-Month TSFR + 0.354%) due 5/25/37(a)			1,675,826
		2,242,407	Long Beach Mortgage Loan Trust, Series 2004-4, Class M1, 6.329% (1-Month TSFR + 1.014%) due 10/25/34(a)			2,133,595
		1,300,000	Longfellow Place CLO Ltd., Series 2013-1A, Class ERR, 13.270% (3-Month TSFR + 7.962%) due 4/15/29(a)(b)			1,262,790
		2,270,167	Mastr Asset Backed Securities Trust, Series 2004-WMC1, Class M1, 6.209% (1-Month TSFR + 0.894%) due 2/25/34(a)			2,266,512
			Merrill Lynch Mortgage Investors Trust:
		445,114	Series 2005-FM1, Class M1, 6.149% (1-Month TSFR + 0.834%) due 5/25/36(a)			435,301
		1,729,260	Series 2006-OPT1, Class A2C, 5.729% (1-Month TSFR + 0.414%) due 8/25/37(a)			1,615,682
		5,950,000	Neuberger Berman Loan Advisers CLO 29 Ltd., Series 2018-29A, Class B1, 7.282% (3-Month TSFR + 1.962%) due 10/19/31(a)(b)			5,902,259
		1,140,705	NovaStar Mortgage Funding Trust, Series 2006-1, Class A2C, 5.749% (1-Month TSFR + 0.434%) due 5/25/36(a)			1,123,065
		2,303	Option One Mortgage Loan Trust, Series 2005-3, Class M2, 6.164% (1-Month TSFR + 0.849%) due 8/25/35(a)			2,297
			Park Place Securities Inc. Asset-Backed Pass-Through Certificates:
		3,600,000	Series 2005-WCH1, Class M5, 6.749% (1-Month TSFR + 1.434%) due 1/25/36(a)			3,286,718
		864,020	Series 2005-WCW2, Class M2, 6.224% (1-Month TSFR + 0.909%) due 7/25/35(a)			851,760
		2,443,146	Ramp Trust, Series 2004-RS8, Class MII2, 5.230% (1-Month TSFR + 1.264%) due 8/25/34(a)			2,363,341
		9,505,000	RR 4 Ltd., Series 2018-4A, Class A2, 7.120% (3-Month TSFR + 1.812%) due 4/15/30(a)(b)			9,367,106
		2,557,785	Specialty Underwriting & Residential Finance Trust, Series 2004-BC1, Class M1, 6.194% (1-Month TSFR + 0.879%) due 2/25/35(a)			2,455,943

See Notes to Financial Statements.

224

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Multi Strategy Alternatives Fund (continued)

Face Amount/Units			Security	Value
ASSET-BACKED SECURITIES – (continued)
	$	380,000	Steele Creek CLO Ltd., Series 2016-1A, Class ER, 11.302% (3-Month USD-LIBOR + 5.750%) due 6/15/31(a)(b)		$	286,078
		6,196,338	Stratus CLO Ltd., Series 2021-2A, Class A, 6.488% (3-Month TSFR + 1.162%) due 12/28/29(a)(b)			6,161,035
		3,597,973	Structured Asset Investment Loan Trust, Series 2004-2, Class A4, 6.134% (1-Month TSFR + 0.819%) due 3/25/34(a)			3,450,936
			Structured Asset Securities Corp. Mortgage Loan Trust:
		2,600,000	Series 2005-WF4, Class M8, 8.054% (1-Month TSFR + 2.739%) due 11/25/35(a)			2,406,595
		705,234	Series 2006-BC6, Class A4, 5.599% (1-Month TSFR + 0.284%) due 1/25/37(a)			688,499
		1,060,176	Series 2006-GEL1, Class M2, 6.629% (1-Month TSFR + 1.314%) due 11/25/35(a)(b)			1,042,697
		817,626	Series 2007-BC3, Class 2A3, 5.609% (1-Month TSFR + 0.294%) due 5/25/47(a)			777,304
			Terwin Mortgage Trust:
		6,738,000	Series 2006-5, Class 1A2C, 6.029% (1-Month TSFR + 0.714%) due 7/25/37(a)(b)			6,264,226
		2,465,000	Series 2006-7, Class 1A2C, 5.969% (1-Month TSFR + 0.654%) due 7/25/37(a)(b)			2,013,769
		16,150,000	Valley Stream Park CLO Ltd., Series 2022-1A, Class B, 8.526% (3-Month TSFR + 3.200%) due 10/20/34(a)(b)			16,149,822
		1,030,000	Venture XVIII CLO Ltd., Series 2014-18A, Class ER, 12.160% (3-Month TSFR + 6.852%) due 10/15/29(a)(b)			706,781
		1,291,000	Vibrant CLO VIII Ltd., Series 2018-8A, Class A1B, 6.838% (3-Month TSFR + 1.512%) due 1/20/31(a)(b)			1,271,855
			TOTAL ASSET-BACKED SECURITIES (Cost – $127,224,907)			126,215,191
CORPORATE BONDS & NOTES – 12.3%
Communications – 0.1%
		301,000	AMC Networks Inc., Company Guaranteed Notes, 5.000% due 4/1/24			297,775
		875,000	TEGNA Inc., Company Guaranteed Notes, 5.000% due 9/15/29			770,000
			Total Communications			1,067,775
Consumer Cyclical – 4.8%
		6,551,000	Cinemark USA Inc., Company Guaranteed Notes, 5.875% due 3/15/26(b)			6,289,043
		17,150,000	Full House Resorts Inc., Senior Secured Notes, 8.250% due 2/15/28(b)			15,259,078
		16,856,000	Golden Entertainment Inc., Senior Unsecured Notes, 7.625% due 4/15/26(b)(c)			16,729,580
		2,794,000	Kohl’s Corp., Senior Unsecured Notes, 4.625% due 5/1/31			2,057,082
			Total Consumer Cyclical			40,334,783

See Notes to Financial Statements.

225

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August 31, 2023 (unaudited)

Destinations Multi Strategy Alternatives Fund (continued)

Face Amount/Units			Security	Value
CORPORATE BONDS & NOTES – (continued)
Consumer Non-cyclical – 2.4%
	$	14,932,000	Arrow Bidco LLC, Senior Secured Notes, 9.500% due 3/15/24(b)(c)		$	14,919,308
		4,527,000	Williams Scotsman International Inc., Senior Secured Notes, 6.125% due 6/15/25(b)			4,487,118
			Total Consumer Non-cyclical			19,406,426
Energy – 1.6%
		6,946,000	Calumet Specialty Products Partners LP/Calumet Finance Corp., Company Guaranteed Notes, 11.000% due 4/15/25(b)			7,105,507
		3,377,000	Nabors Industries Inc., Company Guaranteed Notes, 5.750% due 2/1/25			3,314,221
		2,917,000	Shelf Drilling Holdings Ltd., Company Guaranteed Notes, 8.250% due 2/15/25(b)			2,872,662
			Total Energy			13,292,390
Industrial – 0.8%
		6,533,000	Danaos Corp., Senior Unsecured Notes, 8.500% due 3/1/28(b)			6,631,337
Technology – 0.8%
			NCR Corp., Company Guaranteed Notes:
		5,086,000	5.750% due 9/1/27(b)			5,135,166
		1,201,000	6.125% due 9/1/29(b)			1,236,951
			Total Technology			6,372,117
Utilities – 1.8%
		2,400,000	NRG Energy Inc., Junior Subordinated Notes, 10.250% (5-Year CMT Index + 5.920%)(a)(b)(d)			2,357,536
		13,154,000	Vistra Corp., Junior Subordinated Notes, 7.000% (5-Year CMT Index + 5.740%) (a)(b)(d)			12,174,823
			Total Utilities			14,532,359
			TOTAL CORPORATE BONDS & NOTES (Cost – $102,707,383)			101,637,187
SENIOR LOAN(a) – 1.1%
		9,400,760	Playa Hotels & Resorts BV, 9.564% (1-Month USD-LIBOR + 0.425%) due 1/5/29 (Cost – $9,122,564)			9,387,975

Shares/Units

COMMON STOCKS – 14.3%

CONSUMER CYCLICAL – 2.3%

Entertainment – 2.0%

446,121

Golden Entertainment Inc.(c)

16,243,266

Leisure Time – 0.2%

95,105

Life Time Group Holdings Inc.*

1,635,806

See Notes to Financial Statements.

226

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Multi Strategy Alternatives Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
CONSUMER CYCLICAL – (continued)
Lodging – 0.1%
	96,125	Playa Hotels & Resorts NV*		$	717,093
		TOTAL CONSUMER CYCLICAL			18,596,165
CONSUMER NON-CYCLICAL – 6.1%
Biotechnology – 3.7%
	37,200	Apogee Therapeutics Inc.*			853,368
	591,805	Crinetics Pharmaceuticals Inc.*			10,250,063
	46,295	Horizon Therapeutics PLC*			5,219,298
	238,041	Relay Therapeutics Inc.*			2,432,779
	77,091	Structure Therapeutics Inc., ADR*			2,173,195
	255,592	Xenon Pharmaceuticals Inc.*			9,962,976
		Total Biotechnology			30,891,679
Commercial Services – 1.7%
	199,720	Target Hospitality Corp.*			3,175,548
	271,405	WillScot Mobile Mini Holdings Corp.*			11,133,033
		Total Commercial Services			14,308,581
Food – 0.6%
	224,458	Albertsons Cos., Inc., Class A Shares			5,027,859
		TOTAL CONSUMER NON-CYCLICAL			50,228,119
DIVERSIFIED – 0.4%
Holding Companies-Diversified – 0.4%
	292,343	Haymaker Acquisition Corp. 4*			2,990,669
SPACs – 0.0%
	70,340	First Light Acquisition Group Inc., Class A Shares*(e)(f)@			—
		TOTAL DIVERSIFIED			2,990,669
FINANCIAL – 2.1%
Banks – 2.1%
	970,081	Blue Foundry Bancorp*(c)			8,973,249
	1,096,018	Kearny Financial Corp.(c)			8,121,494
		Total Banks			17,094,743
		TOTAL FINANCIAL			17,094,743
INDUSTRIAL – 1.2%
Metal Fabricate/Hardware – 0.7%
	674,014	Hillman Solutions Corp.*(c)			6,099,827
Transportation – 0.5%
	67,720	GXO Logistics Inc.*			4,332,048
		TOTAL INDUSTRIAL			10,431,875

See Notes to Financial Statements.

227

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Multi Strategy Alternatives Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
TECHNOLOGY – 2.2%
Software – 2.2%
	102,739	Activision Blizzard Inc.		$	9,450,961
	54,181	VMware Inc., Class A Shares*			9,144,669
		Total Software			18,595,630
		TOTAL TECHNOLOGY			18,595,630
		TOTAL COMMON STOCKS (Cost – $112,917,039)			117,937,201
OPEN-END FUNDS – 19.6%
	12,029,230	JPMorgan Strategic Income Opportunities Fund, Class R6 Shares			137,373,811
	1,897,743	Palm Valley Capital Fund			24,139,293
		TOTAL OPEN-END FUNDS (Cost – $159,868,228)			161,513,104
EQUITY LINKED NOTE – 0.4%
DIVERSIFIED – 0.4%
SPACs – 0.4%
	299,624	Ares Acquisition Corp. II* (Cost – $1,990,303)			3,065,153
PREFERRED STOCK – 0.9%
CONSUMER CYCLICAL – 0.9%
Distribution/Wholesale – 0.9%
	264,277	WESCO International Inc., 10.625%(a)(d) (Cost – $7,116,956)			7,206,834
WARRANTS – 0.0%
DIVERSIFIED – 0.0%
SPACs – 0.0%
	149,812	Ares Acquisition Corp. II*(e)			45,842
	468,723	Bridger Aerospace Group Holdings Inc.*(e)			98,479
	88,320	EQRX Inc.*(e)			3,542
	556,875	First Light Acquisition Group Inc.*(e)			117,222
	131,807	Inspirato Inc.*(e)			4,613
	358,816	Pagaya Technologies Ltd.*(e)			154,291
	491,405	Screaming Eagle Acquisition Corp.*(e)			93,367
	77,310	SomaLogic Inc.*(e)(g)			17,047
	23,299	X4 Pharmaceuticals Inc.*			7
	244,085	ZeroFox Holdings Inc.*(e)			7,347
		Total SPACs			541,757
		TOTAL DIVERSIFIED			541,757
		TOTAL WARRANTS (Cost – $2,989,328)			541,757
		TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS (Cost – $692,144,198)			701,469,785

See Notes to Financial Statements.

228

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Multi Strategy Alternatives Fund (continued)

Face Amount†			Security	Value
SHORT-TERM INVESTMENTS – 11.0%
TIME DEPOSITS – 11.0%
	$	39,377,033	Citibank – New York, 4.680% due 9/1/23		$	39,377,033
		3,582,550	JPMorgan Chase & Co. – New York, 4.680% due 9/1/23			3,582,550
		47,392,217	Sumitomo Mitsui Banking Corp. – Tokyo, 4.680% due 9/1/23			47,392,217
			TOTAL TIME DEPOSITS (Cost – $90,351,800)			90,351,800

Shares/Units
INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 0.0%
MONEY MARKET FUND – 0.0%
	100	Federated Government Obligations Fund, Premier Class, 5.165%(h) (Cost – $100)		100
		TOTAL INVESTMENTS – 96.1% (Cost – $782,496,098)		791,821,685
		Other Assets in Excess of Liabilities – 3.9%		32,179,330
		TOTAL NET ASSETS – 100.0%	$	824,001,015

†

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 August 31, 2023.

(b)

(c)

All or a portion of this security is pledged by the Fund as collateral for short sales or derivative transactions.

(d)

Security is perpetual in nature and has no stated maturity date.

(e)

Illiquid security. The aggregate value of illiquid holdings at August 31, 2023, amounts to $541,750 and represents 0.07% 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)

All or a portion of this security is on loan (See Note 5).

(h)

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.

See Notes to Financial Statements.

229

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Multi Strategy Alternatives Fund (continued)

Security	First Acquisition Date		First Acquisition Cost			Market Value			Percent of Net Assets
Federal National Mortgage Association (FNMA), Connecticut Avenue Securities:
Series 2016-C01, Class 1B, 17.152% (SOFR30A + 11.864%) due 8/25/28		8/3/2021		$	236,453		$	599,530		0.07%
Series 2016-C02, Class 1B, 17.652% (SOFR30A + 12.364%) due 9/25/28		8/10/2021			799,642			3,931,388		0.48%
Series 2016-C03, Class 1B, 17.152% (SOFR30A + 11.864%) due 10/25/28		4/27/2022			537,977			555,068		0.07%
Series 2016-C03, Class 2M2, 11.302% (SOFR30A + 6.014%) due 10/25/28		3/17/2020			1,138,013			2,953,356		0.36%
Series 2016-C04, Class 1B, 15.652% (SOFR30A + 10.364%) due 1/25/29		4/13/2022			1,355,446			1,387,062		0.17%
Series 2016-C06, Class 1B, 14.652% (SOFR30A + 9.364%) due 4/25/29		3/11/2022			1,143,710			4,993,963		0.61%
Series 2017-C02, Class 2B1, 10.902% (SOFR30A + 5.614%) due 9/25/29		2/22/2022			4,378,125			5,778,825		0.70%
Freddie Mac Structured Agency Credit Risk Debt Notes:
Series 2016-DNA4, Class B, 14.002% (SOFR30A + 8.714%) due 3/25/29		3/11/2022			1,105,244			1,148,261		0.14%
Series 2016-HQA3, Class B, 14.402% (SOFR30A + 9.114%) due 3/25/29		1/27/2022			2,131,393			2,159,542		0.26%
Series 2017-HQA3, Class B1, 9.852% (SOFR30A + 4.564%) due 4/25/30		4/29/2021			1,354,500			4,633,200		0.56%
First Light Acquisition Group Inc.		9/10/2021			306			—		0.00%
							$	28,140,195		3.42%

Abbreviations used in this schedule:

CLO

— Collateralized Loan Obligation

CMT

— Constant Maturity Treasury Index

ETF

— Exchange Traded Fund

LIBOR

— London Interbank Offered Rate

LLC

— Limited Liability Company

REMIC

— Real Estate Mortgage Investment Conduit

SOFR

— Secured Overnight Financing Rate

SPACs

�� Special Purpose Acquisition Companies

SPDR

— Standard & Poor’s Depository Receipts

See Notes to Financial Statements.

230

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Multi Strategy Alternatives Fund (continued)

Summary of Investments by Security Type^

	Collateralized Mortgage Obligations					22.0%
	Open-End Funds					20.4
	Asset-Backed Securities					15.9
	Common Stocks					14.9
	Corporate Bonds & Notes					12.8
	Senior Loan					1.2
	Preferred Stock					0.9
	Equity Linked Note					0.4
	Warrants					0.1
	Short-Term Investments					11.4
	Money Market Fund					0.0*
						100.0%

As a percentage of total investments.

Position represents less than 0.005%.

OTC Total Return Swaps

Currency

Notional
Amount

Maturity
Date

Counterparty

Payment
Frequency

Pay

Receive

Unrealized
Appreciation/
(Depreciation)

USD

8,646,077

1/23/24

GSC

1-Month

USD-Federal Funds-H.15

GSCBGDEN Basket*

(169,412)

USD

10,383,355

8/30/24

GSC

1-Month

USD-Federal Funds-H.15

GSCNNED3 Basket**

(37,845)

USD

9,281,535

8/30/24

GSC

1-Month

USD-Federal Funds-H.15

Cannae Holdings Inc.

208,043

786

GSCBGDEN Basket consists of a portfolio of:

	Boyd Gaming Corp.					26%
	Churchill Downs Inc.					22%
	Red Rock Resorts Inc.					22%
	Penn Entertainment Inc.					13%
	Caesars Entertainment Inc.					17%
						100%

GSCNNED3 Basket consists of a portfolio of:

	Dun & Bradstreet Holdings Inc.					50%
	Alight Inc.					23%
	Ceridian HCM Holding Inc.					23%
	Paysafe Ltd					4%
						100%

See Notes to Financial Statements.

231

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Multi Strategy Alternatives Fund (continued)

At August 31, 2023, 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	Counter party	Implied Credit Spread at 8/31/23(2)		Notional Amounts(3)	Market Value			Upfront Premiums Paid/ (Received)			Unrealized Appreciation
CDX.NA.HY.35		5.000%		12/20/25	3-Month	MSCS		1.974%	USD 20,000,000		$	1,515,331		$	651,500		$	863,831
CDX.NA.HY.37		5.000%		12/20/26	3-Month	MSCS		1.235%	USD 20,000,000			2,504,991			1,234,622			1,270,369
CDX.NA.HY.39		5.000%		12/20/27	3-Month	MSCS		2.527%	USD 25,000,000			2,623,533			1,437,500			1,186,033
CDX.NA.IG.39		1.000%		12/20/27	3-Month	GSC		2.706%	USD 60,000,000			(3,778,177)			(8,736,000)			4,957,823
CDX.NA.IG.39		1.000%		12/20/27	3-Month	MSCS		2.706%	USD 20,000,000			(1,259,392)			(2,630,800)			1,371,408
											$	1,606,286		$	(8,043,178)		$	9,649,464

(1)

If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either: (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or underlying securities comprising the referenced index or (ii) receive 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)

(3)

Counterparty Abbreviations used in this schedule:

GSC

— Goldman Sachs & Co.

MSCS

— Morgan Stanley Capital Services LLC

See Notes to Financial Statements.

232

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Multi Strategy Alternatives Fund (concluded)

Shares/Units		Security	Value
SECURITIES SOLD SHORT – 5.0%
EXCHANGE TRADED FUNDS (ETFs) – 4.2%
	108,132	Global X US Infrastructure Development		$	3,489,420
	46,521	iShares Russell 2000, Class Common Shares			8,774,326
	194,771	SPDR S&P Biotech			15,425,863
	154,691	SPDR S&P Regional Banking			6,893,031
		Total Exchange Traded Funds (ETFs)			34,582,640
		TOTAL EXCHANGE TRADED FUNDS (ETFs) (Proceeds – $52,127,587)			34,582,640
COMMON STOCK – 0.8%
TECHNOLOGY – 0.8%
Semiconductors – 0.8%
	6,870	Broadcom Inc. (Proceeds – $5,367,349)			6,340,254
		TOTAL SECURITIES SOLD SHORT – 5.0% (Proceeds – $57,494,936)		$	40,922,894

See Notes to Financial Statements.

233

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Shelter Fund

Shares/Units		Security	Value
COMMON STOCKS – 98.5%
BASIC MATERIALS – 1.6%
Chemicals – 1.2%
	608	Albemarle Corp.		$	120,816
	2,745	Huntsman Corp.			76,503
	1,690	Linde PLC			654,098
	2,192	LyondellBasell Industries NV, Class A Shares			216,504
	588	Nutrien Ltd.			37,232
	442	Olin Corp.			25,645
	1,318	RPM International Inc.			131,457
		Total Chemicals			1,262,255
Iron/Steel – 0.0%
	1,732	Vale SA, Class B Shares, ADR			22,810
Mining – 0.4%
	1,743	Barrick Gold Corp.			28,254
	6,964	Freeport-McMoRan Inc.			277,933
	651	Rio Tinto PLC, ADR			40,688
	396	Southern Copper Corp.			31,941
		Total Mining			378,816
		TOTAL BASIC MATERIALS			1,663,881
COMMUNICATIONS – 13.8%
Internet – 10.5%
	4,103	Alphabet Inc., Class A Shares*(a)			558,705
	26,135	Alphabet Inc., Class C Shares*(a)			3,589,642
	24,604	Amazon.com Inc.*(a)			3,395,598
	139	Booking Holdings Inc.*			431,599
	3,079	eBay Inc.			137,878
	451	Lyft Inc., Class A Shares*			5,313
	22	MercadoLibre Inc.*			30,192
	6,110	Meta Platforms Inc., Class A Shares*(a)			1,807,888
	1,170	Netflix Inc.*(a)			507,406
	73	Roku Inc., Class A Shares*			5,928
	779	Shopify Inc., Class A Shares*			51,796
	1,097	Uber Technologies Inc.*			51,811
	484	VeriSign Inc.*			100,570
		Total Internet			10,674,326
Media – 1.6%
	14,613	Comcast Corp., Class A Shares			683,304
	316	FactSet Research Systems Inc.			137,905

See Notes to Financial Statements.

234

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Shelter Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
COMMUNICATIONS – (continued)
Media – (continued)
	4,624	Fox Corp., Class A Shares		$	152,869
	280	Liberty Broadband Corp., Class C Shares*			26,197
	385	New York Times Co., Class A Shares			17,044
	7,920	Sirius XM Holdings Inc.			34,848
	6,258	Walt Disney Co.*(a)			523,669
		Total Media			1,575,836
Telecommunications – 1.7%
	27,511	AT&T Inc.			406,888
	868	Ciena Corp.*			43,383
	12,777	Cisco Systems Inc.(a)			732,761
	13,618	Telefonaktiebolaget LM Ericsson, ADR			70,269
	13,712	Verizon Communications Inc.(a)			479,646
	3,923	Vodafone Group PLC, ADR			36,562
		Total Telecommunications			1,769,509
		TOTAL COMMUNICATIONS			14,019,671
CONSUMER CYCLICAL – 9.2%
Airlines – 0.2%
	4,966	Delta Air Lines Inc.			212,942
Apparel – 0.5%
	491	Capri Holdings Ltd.*			25,773
	51	Deckers Outdoor Corp.*			26,984
	3,814	NIKE Inc., Class B Shares			387,922
	524	Skechers USA Inc., Class A Shares*			26,362
		Total Apparel			467,041
Auto Manufacturers – 2.1%
	17,242	Ford Motor Co.			209,145
	7,563	Tesla Inc.*(a)			1,951,859
		Total Auto Manufacturers			2,161,004
Auto Parts & Equipment – 0.2%
	246	Autoliv Inc.			24,010
	974	Gentex Corp.			31,811
	5,896	Goodyear Tire & Rubber Co.*			76,117
	494	Lear Corp.			71,180
	172	Magna International Inc.			10,117
		Total Auto Parts & Equipment			213,235

See Notes to Financial Statements.

235

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Shelter Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
CONSUMER CYCLICAL – (continued)
Distribution/Wholesale – 0.2%
	307	WW Grainger Inc.		$	219,241
Entertainment – 0.1%
	444	DraftKings Inc., Class A Shares*			13,165
	198	Light & Wonder Inc.*			15,181
	243	Vail Resorts Inc.			54,996
		Total Entertainment			83,342
Food Service – 0.1%
	1,163	Aramark			43,240
Home Builders – 0.4%
	2,557	DR Horton Inc.			304,334
	1,604	Toll Brothers Inc.			131,416
		Total Home Builders			435,750
Home Furnishings – 0.0%
	764	Leggett & Platt Inc.			21,545
Leisure Time – 0.1%
	204	Brunswick Corp.			16,141
	1,589	Harley-Davidson Inc.			53,629
	223	Planet Fitness Inc., Class A Shares*			13,558
	52	Polaris Inc.			5,829
		Total Leisure Time			89,157
Lodging – 0.1%
	1,943	Las Vegas Sands Corp.			106,593
Retail – 5.2%
	80	Burlington Stores Inc.*			12,981
	1,590	Costco Wholesale Corp.			873,355
	192	Dick’s Sporting Goods Inc.			22,337
	277	Five Below Inc.*			47,633
	3,171	Home Depot Inc.(a)			1,047,381
	568	Kohl’s Corp.			15,132
	2,271	Lowe’s Cos., Inc.			523,420
	211	Lululemon Athletica Inc.*			80,446
	2,499	McDonald’s Corp.			702,594
	831	Restaurant Brands International Inc.			57,713
	4,021	Starbucks Corp.			391,806
	1,848	Target Corp.			233,864
	4,701	TJX Cos., Inc.			434,748

See Notes to Financial Statements.

236

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Shelter Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
CONSUMER CYCLICAL – (continued)
Retail – (continued)
	4,561	Walmart Inc.(a)		$	741,664
	241	Williams-Sonoma Inc.			34,029
	485	Yum China Holdings Inc.			26,040
		Total Retail			5,245,143
		TOTAL CONSUMER CYCLICAL			9,298,233
CONSUMER NON-CYCLICAL – 18.4%
Agriculture – 0.7%
	2,467	British American Tobacco PLC, ADR			81,904
	5,957	Philip Morris International Inc.			572,229
		Total Agriculture			654,133
Beverages – 1.4%
	3,504	Brown-Forman Corp., Class B Shares			231,719
	1,598	Constellation Brands Inc., Class A Shares			416,375
	9,076	Keurig Dr Pepper Inc.			305,407
	2,726	Molson Coors Beverage Co., Class B Shares			173,074
	5,800	Monster Beverage Corp.*			332,978
		Total Beverages			1,459,553
Biotechnology – 1.2%
	185	Alnylam Pharmaceuticals Inc.*			36,597
	1,877	Amgen Inc.			481,150
	696	Biogen Inc.*			186,083
	435	BioMarin Pharmaceutical Inc.*			39,750
	799	Moderna Inc.*			90,343
	402	Regeneron Pharmaceuticals Inc.*			332,249
	276	Seagen Inc.*			56,875
	182	United Therapeutics Corp.*			40,834
		Total Biotechnology			1,263,881
Commercial Services – 1.4%
	1,965	Automatic Data Processing Inc.			500,309
	344	Block Inc., Class A Shares*			19,832
	509	Booz Allen Hamilton Holding Corp., Class A Shares			57,675
	1,171	Global Payments Inc.			148,354
	99	Herc Holdings Inc.			12,884
	1,378	S&P Global Inc.			538,605
	1,031	TransUnion			83,738
		Total Commercial Services			1,361,397

See Notes to Financial Statements.

237

TABLE OF CONTENTS

Schedules of Investments

August 31, 2023 (unaudited)

Destinations Shelter Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
CONSUMER NON-CYCLICAL – (continued)
Food – 1.0%
	3,024	Campbell Soup Co.		$	126,101
	5,229	Hormel Foods Corp.			201,787
	1,512	JM Smucker Co.			219,164
	4,583	Kellogg Co.			279,655
	2,202	McCormick & Co., Inc.			180,740
	737	US Foods Holding Corp.*			29,797
		Total Food			1,037,244
Healthcare-Products – 3.5%
	5,909	Abbott Laboratories			608,036
	1,138	Alcon Inc.			94,443
	1,633	Avantor Inc.*			35,354
	2,445	Danaher Corp.			647,925
	220	Enovis Corp.*			12,329
	348	Exact Sciences Corp.*			29,117
	1,694	GE HealthCare Technologies Inc.			119,342
	1,385	Intuitive Surgical Inc.*			433,062
	4,964	Medtronic PLC			404,566
	1,394	Thermo Fisher Scientific Inc.			776,597
	538	Waters Corp.*			151,070
	1,555	Zimmer Biomet Holdings Inc.			185,232
		Total Healthcare-Products			3,497,073
Healthcare-Services – 1.9%
	947	Elevance Health Inc.			418,583
	196	ICON PLC*			50,948
	439	Molina Healthcare Inc.*			136,143
	2,719	UnitedHealth Group Inc.(a)			1,295,821
		Total Healthcare-Services			1,901,495
Household Products/Wares – 1.0%
	1,211	Clorox Co.			189,461
	6,167	Kimberly-Clark Corp.			794,495
	663	Spectrum Brands Holdings Inc.			55,142
		Total Household Products/Wares			1,039,098
Pharmaceuticals – 6.3%
	5,066	AbbVie Inc.			744,499
	1,291	AstraZeneca PLC, ADR			87,556
	1,507	Becton Dickinson & Co.			421,131

See Notes to Financial Statements.

238

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Shelter Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
CONSUMER NON-CYCLICAL – (continued)
Pharmaceuticals – (continued)
	1,267	Cigna Group		$	350,021
	4,986	CVS Health Corp.			324,938
	1,524	DexCom Inc.*			153,893
	2,255	Eli Lilly & Co.			1,249,721
	238	Jazz Pharmaceuticals PLC*			34,120
	7,603	Johnson & Johnson(a)			1,229,253
	674	McKesson Corp.			277,904
	8,011	Merck & Co., Inc.			873,039
	262	Novartis AG, ADR			26,326
	355	Perrigo Co. PLC			12,425
	17,338	Pfizer Inc.(a)			613,418
	2,538	Teva Pharmaceutical Industries Ltd., ADR*			24,771
		Total Pharmaceuticals			6,423,015
		TOTAL CONSUMER NON-CYCLICAL			18,636,889
ENERGY – 4.4%
Oil & Gas – 3.6%
	1,669	Canadian Natural Resources Ltd.			107,968
	3,832	Cenovus Energy Inc.			76,372
	6,331	Chevron Corp.			1,019,924
	3,330	EOG Resources Inc.			428,305
	12,473	Exxon Mobil Corp.(a)			1,386,873
	227	HF Sinclair Corp.			12,505
	3,501	Occidental Petroleum Corp.			219,828
	1,205	Ovintiv Inc.			56,587
	2,372	Phillips 66			270,787
	629	Range Resources Corp.			20,367
	2,703	Suncor Energy Inc.			91,578
		Total Oil & Gas			3,691,094
Oil & Gas Services – 0.5%
	1,770	NOV Inc.			37,400
	7,067	Schlumberger NV			416,670
		Total Oil & Gas Services			454,070
Pipelines – 0.3%
	528	Cheniere Energy Inc.			86,169
	1,370	Enbridge Inc.			48,060
	1,562	Targa Resources Corp.			134,722

See Notes to Financial Statements.

239

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Shelter Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
ENERGY – (continued)
Pipelines – (continued)
	951	TC Energy Corp.		$	34,350
		Total Pipelines			303,301
		TOTAL ENERGY			4,448,465
FINANCIAL – 14.0%
Banks – 3.8%
	5,068	Banco Bradesco SA, ADR			15,153
	20,917	Bank of America Corp.(a)			599,690
	60	Bank of Montreal			5,165
	5,686	Citigroup Inc.			234,775
	255	Cullen/Frost Bankers Inc.			24,105
	1,227	East West Bancorp Inc.			67,902
	2,100	First Horizon Corp.			26,355
	1,483	Goldman Sachs Group Inc.			485,994
	554	ICICI Bank Ltd., ADR			12,836
	4,360	Itau Unibanco Holding SA, ADR			23,980
	8,138	JPMorgan Chase & Co.(a)			1,190,834
	1,435	M&T Bank Corp.			179,447
	5,625	Morgan Stanley			478,969
	12,708	Wells Fargo & Co.			524,713
		Total Banks			3,869,918
Diversified Financial Services – 3.8%
	2,638	American Express Co.			416,778
	940	Ameriprise Financial Inc.			317,325
	453	Brookfield Asset Management Ltd., Class A Shares			15,651
	4,298	Charles Schwab Corp.			254,227
	28	Credit Acceptance Corp.*			14,050
	322	Evercore Inc., Class A Shares			45,096
	1,682	Jefferies Financial Group Inc.			60,031
	2,891	Mastercard Inc., Class A Shares(a)			1,192,942
	3,522	Nasdaq Inc.			184,835
	5,186	Visa Inc., Class A Shares(a)			1,274,097
	249	Voya Financial Inc.			17,350
		Total Diversified Financial Services			3,792,382
Equity Real Estate Investment Trusts (REITs) – 2.3%
	4,374	American Homes 4 Rent, Class A Shares			157,639
	2,481	Annaly Capital Management Inc.			50,290

See Notes to Financial Statements.

240

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Shelter Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
FINANCIAL – (continued)
Equity Real Estate Investment Trusts (REITs) – (continued)
	1,043	AvalonBay Communities Inc.		$	191,724
	1,104	Camden Property Trust			118,813
	2,008	CubeSmart			83,754
	1,984	Equity LifeStyle Properties Inc.			132,849
	3,439	Equity Residential			222,950
	813	Essex Property Trust Inc.			193,811
	5,278	Invitation Homes Inc.			179,927
	2,519	Medical Properties Trust Inc.			18,187
	1,701	Mid-America Apartment Communities Inc.			247,036
	5,458	Realty Income Corp.			305,866
	581	Sun Communities Inc.			71,126
	6,749	VICI Properties Inc., Class A Shares			208,139
	2,231	WP Carey Inc.			145,127
		Total Equity Real Estate Investment Trusts (REITs)			2,327,238
Insurance – 3.9%
	3,161	Aflac Inc.			235,716
	955	Aon PLC, Class A Shares			318,388
	1,800	Arthur J Gallagher & Co.			414,864
	795	Assurant Inc.			110,767
	5,632	Berkshire Hathaway Inc., Class B Shares*			2,028,646
	2,817	Brown & Brown Inc.			208,740
	2,124	Fidelity National Financial Inc.			87,934
	5,545	Manulife Financial Corp.			102,472
	116	Markel Group Inc.*			171,555
	187	RenaissanceRe Holdings Ltd.			35,135
	2,111	Unum Group			103,840
	1,697	WR Berkley Corp.			104,976
		Total Insurance			3,923,033
Private Equity – 0.2%
	1,041	Blackstone Inc.			110,731
	1,210	Brookfield Corp.			41,273
	1,435	KKR & Co., Inc.			90,132
		Total Private Equity			242,136
Real Estate – 0.0%
	161	Jones Lang LaSalle Inc.*			27,821

See Notes to Financial Statements.

241

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Shelter Fund (continued)

Shares/Units			Security	Value
COMMON STOCKS – (continued)
FINANCIAL – (continued)
Savings & Loans – 0.0%
		2,951	New York Community Bancorp Inc.		$	36,238
			TOTAL FINANCIAL			14,218,766
INDUSTRIAL – 8.0%
Aerospace/Defense – 1.0%
		1,825	Boeing Co.*			408,855
		2,028	General Dynamics Corp.			459,626
		1,075	HEICO Corp.			181,363
			Total Aerospace/Defense			1,049,844
Building Materials – 0.5%
		315	Lennox International Inc.			118,695
		249	Louisiana-Pacific Corp.			15,558
		762	Martin Marietta Materials Inc.			340,164
			Total Building Materials			474,417
Electrical Components & Equipment – 0.4%
		359	Acuity Brands Inc.			57,900
		1,994	AMETEK Inc.			318,063
			Total Electrical Components & Equipment			375,963
Electronics – 0.7%
		6,396	Amphenol Corp., Class A Shares			565,278
		931	Sensata Technologies Holding PLC			35,024
		2,177	Trimble Inc.*			119,278
			Total Electronics			719,580
Engineering & Construction – 0.1%
		694	AECOM			60,899
Environmental Control – 0.4%
		1,787	Republic Services Inc., Class A Shares			257,560
	��	806	Waste Connections Inc.			110,414
			Total Environmental Control			367,974
Hand/Machine Tools – 0.0%
		148	Lincoln Electric Holdings Inc.			28,484
Machinery-Construction & Mining – 0.6%
		1,347	BWX Technologies Inc.			99,355
		1,931	Caterpillar Inc.			542,862
			Total Machinery-Construction & Mining			642,217

See Notes to Financial Statements.

242

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Shelter Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
INDUSTRIAL – (continued)
Machinery-Diversified – 1.5%
	227	AGCO Corp.		$	29,403
	477	Cognex Corp.			22,457
	911	Deere & Co.			374,366
	1,733	Dover Corp.			257,004
	1,956	Graco Inc.			154,407
	710	IDEX Corp.			160,744
	530	Nordson Corp.			129,394
	704	Rockwell Automation Inc.			219,704
	1,686	Xylem Inc.			174,568
		Total Machinery-Diversified			1,522,047
Miscellaneous Manufacturers – 1.1%
	3,701	3M Co.			394,786
	330	Carlisle Cos., Inc.			86,797
	3,744	General Electric Co.			428,538
	2,842	Textron Inc.			220,852
		Total Miscellaneous Manufacturers			1,130,973
Packaging & Containers – 0.3%
	617	Crown Holdings Inc.			57,171
	906	Packaging Corp. of America			135,085
	1,417	Sonoco Products Co.			81,407
		Total Packaging & Containers			273,663
Shipbuilding – 0.2%
	903	Huntington Ingalls Industries Inc.			198,949
Transportation – 1.2%
	530	Canadian National Railway Co.			59,683
	1,121	Canadian Pacific Kansas City Ltd.			88,985
	2,139	Union Pacific Corp.			471,799
	3,582	United Parcel Service Inc., Class B Shares			606,791
	283	XPO Inc.*			21,120
		Total Transportation			1,248,378
		TOTAL INDUSTRIAL			8,093,388
TECHNOLOGY – 26.6%
Computers – 8.8%
	2,146	Accenture PLC, Class A Shares			694,810
	40,045	Apple Inc.(a)			7,523,254
	484	Check Point Software Technologies Ltd.*			65,142

See Notes to Financial Statements.

243

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Shelter Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
TECHNOLOGY – (continued)
Computers��– (continued)
	1,338	Dell Technologies Inc., Class C Shares		$	75,249
	3,598	International Business Machines Corp.			528,294
	138	Kyndryl Holdings Inc.*			2,330
		Total Computers			8,889,079
Semiconductors – 7.5%
	5,353	Advanced Micro Devices Inc.*			565,919
	3,538	Applied Materials Inc.			540,465
	181	ASML Holding NV, Class NY Registered Shares, ADR			119,556
	1,295	Broadcom Inc.(a)			1,195,143
	285	Cirrus Logic Inc.*			23,381
	682	Entegris Inc.			69,066
	583	Lam Research Corp.			409,499
	1,980	Marvell Technology Inc.			115,335
	4,028	Micron Technology Inc.			281,718
	6,638	NVIDIA Corp.(a)			3,276,185
	1,421	NXP Semiconductors NV			292,328
	2,501	ON Semiconductor Corp.*			246,249
	3,689	QUALCOMM Inc.			422,501
	158	Silicon Laboratories Inc.*			21,308
	309	Taiwan Semiconductor Manufacturing Co., Ltd., ADR			28,913
		Total Semiconductors			7,607,566
Software – 10.3%
	1,440	Adobe Inc.*(a)			805,450
	266	Black Knight Inc.*			20,152
	1,037	Intuit Inc.			561,857
	20,135	Microsoft Corp.(a)			6,599,448
	5,139	Oracle Corp.			618,684
	2,990	Salesforce Inc.*(a)			662,165
	470	SAP SE, ADR			65,654
	803	ServiceNow Inc.*			472,831
	3,477	SS&C Technologies Holdings Inc.			199,649
	233	Veeva Systems Inc., Class A Shares*			48,627
	944	VMware Inc., Class A Shares*			159,328
	373	Workday Inc., Class A Shares*			91,199

See Notes to Financial Statements.

244

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Shelter Fund (continued)

Shares/Units		Security	Value
COMMON STOCKS – (continued)
TECHNOLOGY – (continued)
Software – (continued)
	1,765	Zoom Video Communications Inc., Class A Shares*		$	125,368
		Total Software			10,430,412
		TOTAL TECHNOLOGY			26,927,057
UTILITIES – 2.5%
Electric – 2.4%
	4,615	Alliant Energy Corp.			231,534
	4,965	Ameren Corp.			393,575
	6,849	American Electric Power Co., Inc.			536,962
	3,809	Consolidated Edison Inc.			338,849
	3,756	DTE Energy Co.			388,295
	9,929	PPL Corp.			247,431
	5,600	Xcel Energy Inc.			319,928
		Total Electric			2,456,574
Water – 0.1%
	3,490	Essential Utilities Inc.			128,781
		TOTAL UTILITIES			2,585,355
		TOTAL COMMON STOCKS (Cost – $95,172,912)			99,891,705

Number of Contracts		Notional Amounts
PURCHASED OPTIONS – 0.7%
Index Option – 0.7%
	73	$32,905,918	S&P 500 Index Options, Put, @ $4,235.00, expires 9/29/23, Counterparty: MSC	58,400
	73	32,905,918	S&P 500 Index Options, Put, @ $4,350.00, expires 10/31/23, Counterparty: MSC	267,910
	73	32,905,918	S&P 500 Index Options, Put, @ $4,290.00, expires 11/30/23, Counterparty: MSC	328,500
			TOTAL PURCHASED OPTIONS (Cost – $967,394)	654,810
			TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS (Cost – $96,140,306)	100,546,515

See Notes to Financial Statements.

245

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Shelter Fund (continued)

��	Face Amount			Security	Value
	SHORT-TERM INVESTMENTS – 0.8%
	TIME DEPOSITS – 0.8%
		$	139,735	Citibank – New York, 4.680% due 9/1/23		$	139,735
			698,573	JPMorgan Chase & Co. – New York, 4.680% due 9/1/23			698,573
				TOTAL TIME DEPOSITS (Cost – $838,308)			838,308
				TOTAL INVESTMENTS – 100.0% (Cost – $96,978,614)			101,384,823
				Other Assets in Excess of Liabilities – 0.0%			20,069
				TOTAL NET ASSETS – 100.0%		$	101,404,892

Non-income producing security.

(a)

All or a portion of this security is pledged by the Fund as collateral for short sales or derivative transactions.

Abbreviations used in this schedule:

ADR

— American Depositary Receipts

PLC

— Public Limited Company

REIT

— Real Estate Investment Trust

Summary of Investments by Security Sector^

	Technology					26.6%
	Consumer Non-cyclical					18.4
	Financial					14.0
	Communications					13.8
	Consumer Cyclical					9.2
	Industrial					8.0
	Energy					4.4
	Utilities					2.6
	Basic Materials					1.6
	Purchased Options					0.6
	Short-Term Investments					0.8
						100.0%

As a percentage of total investments.

See Notes to Financial Statements.

246

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Schedules of Investments

August 31, 2023 (unaudited)

Destinations Shelter Fund (concluded)

Schedule of Options Contracts Written

Index Options

Number of Contracts	Notional Amount			Security Name	Counterparty		Expiration Date		Exercise Rate			Value
37		$	16,678,342	S&P 500 Index Options, Call		MSC		9/29/23		$	4,660.00		$	(35,150)
37			16,678,342	S&P 500 Index Options, Call		MSC		10/31/23		$	4,800.00			(28,860)
37			16,678,342	S&P 500 Index Options, Call		MSC		11/30/23		$	4,740.00			(129,685)
73			32,905,918	S&P 500 Index Options, Put		MSC		9/29/23		$	3,560.00			(7,118)
73			32,905,918	S&P 500 Index Options, Put		MSC		10/31/23		$	3,660.00			(29,930)
73			32,905,918	S&P 500 Index Options, Put		MSC		11/30/23		$	3,610.00			(57,670)
				TOTAL OPTIONS CONTRACTS WRITTEN
				(Premiums received – $584,027)									$	(288,413)

Counterparty Abbreviations used in this schedule:

MSC

— Morgan Stanley

See Notes to Financial Statements.

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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.

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.

248

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Ratings (unaudited) (concluded)

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.

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.

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.

249

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Statements of Assets and Liabilities

August 31, 2023 (unaudited)

	Destinations Large Cap Equity Fund			Destinations Small-Mid Cap Equity Fund			Destinations International Equity Fund			Destinations Equity Income Fund			Destinations Core Fixed Income Fund
ASSETS:
Investments, at value(1),(2)		$	4,012,782,530		$	866,482,632		$	2,538,298,804		$	629,811,005		$	2,211,277,074
Foreign currency, at value(3)			219			—			332,283			67,503			—
Cash			142,776			87,794			273,538			35,189			128,865
Receivable for securities sold			14,543,799			1,916,963			1,411,313			1,951,422			54,265,553
Dividends and interest receivable			4,357,767			898,335			8,460,025			2,590,133			13,583,597
Receivable for Fund shares sold			1,277,781			589,956			797,785			160,799			642,506
Cash held at Broker			191,000			—			—			—			1,008,981
Prepaid expenses			116,063			21,183			49,996			41,985			30,870
Prepaid Chief Compliance Officer expense			10,236			465			—			4,803			—
Total Assets			4,033,422,171			869,997,328			2,549,623,744			634,662,839			2,280,937,446
LIABILITIES:
Payable for collateral received from securities on loan			—			22,079,194			20,632,983			10,518,183			—
Payable for Fund shares repurchased			3,270,862			882,883			2,005,672			659,913			1,796,909
Payable for securities purchased			20,782,464			2,345,019			2,412,347			—			137,572,927
Investment management fee payable			2,089,673			633,022			1,216,135			372,049			1,015,252
Transfer agent fees payable			1,111,173			230,020			626,060			139,963			530,073
Custody fee payable			153,023			76,061			72,649			5,401			217,514
Trustees’ fees payable			138,520			36,968			117,023			12,283			64,218
Registration fees payable			167,415			71,501			181,792			—			88,135
Shareholder services			104,949			37,404			38,177			26,007			118,257
Variation margin on open future contracts (Note 4)			6,937			—			—			—			69,020
Forward sale commitments(5) (Note 5)			—			—			—			—			25,149,680
Options contracts written, at value(6) (Note 4)			—			—			6,236			9,630			—
Foreign capital gains tax payable			—			—			3,125,317			—			—
Accrued Chief Compliance Officer expense			—			—			—			—			15,021
Accrued expenses			323,786			66,019			329,497			2,059			217,463
Variation margin on open swap contracts			—			—			—			—			1,047,632
Total Liabilities			28,148,802			26,458,091			30,763,888			11,745,488			167,902,101
Total Net Assets		$	4,005,273,369		$	843,539,237		$	2,518,859,856		$	622,917,351		$	2,113,035,345
NET ASSETS:
Par value		$	290,334		$	72,556		$	207,502		$	56,396		$	256,478
Paid-in capital in excess of par value			2,884,459,186			754,130,587			2,342,053,540			600,023,494			2,528,378,110
Total distributable earnings (losses)			1,120,523,849			89,336,094			176,598,814			22,837,461			(415,599,243)
Total Net Assets		$	4,005,273,369		$	843,539,237		$	2,518,859,856		$	622,917,351		$	2,113,035,345
Total Net Assets Class I		$	3,628,427,714		$	764,415,345		$	2,280,007,222		$	567,350,660		$	1,919,151,080
Total Net Assets Class Z		$	376,845,655		$	79,123,892		$	238,852,634		$	55,566,691		$	193,884,265
Shares Outstanding Class I			255,484,379			63,639,196			185,049,608			51,201,401			233,551,688
Shares Outstanding Class Z			34,849,183			8,917,197			22,452,571			5,194,137			22,926,718
Net Asset Value Class I		$	14.20		$	12.01		$	12.32		$	11.08		$	8.22
Net Asset Value Class Z		$	10.81		$	8.87		$	10.64		$	10.70		$	8.46
(1) Investments, at cost		$	2,926,224,889		$	733,114,854		$	2,244,184,657		$	593,292,358		$	2,455,253,474
(2) Includes securities on loan		$	—		$	21,308,567		$	19,398,663		$	9,937,135		$	—
(3) Foreign currency, at cost		$	221		$	—		$	332,977		$	68,604		$	—
(4) Related to futures contracts		$	—		$	—		$	—		$	—		$	—
(5) Proceeds received		$	—		$	—		$	—		$	—		$	25,246,813
(6) Premiums received		$	—		$	—		$	10,694		$	10,376		$	—
(7) Related to swap contracts		$	—		$	—		$	—		$	—		$	—

See Notes to Financial Statements.

250

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Statements of Assets and Liabilities

August 31, 2023 (unaudited) (concluded)

		Destinations Low Duration Fixed Income Fund			Destinations Global Fixed Income Opportunities Fund			Destinations Municipal Fixed Income Fund			Destinations Multi Strategy Alternatives Fund			Destinations Shelter Fund
ASSETS:
Investments, at value(1),(2)			$	408,837,348		$	838,373,638		$	890,591,556		$	791,821,685		$	101,384,823
Foreign currency, at value(3)				422			250			—			—			—
Cash				55,256			144,213			196,620			420,221			3,991
Receivable for securities sold				4,176,767			7,308,013			3,684,770			7,318,587			1,197,629
Dividends and interest receivable				5,166,849			11,149,971			9,103,142			3,719,837			160,260
Receivable for Fund shares sold				676,949			223,956			158,211			346,443			649
Receivable for expense reimbursement				—			—			8,468			—			—
Unrealized appreciation on open forward foreign currency contracts (Note 4)				379,890			529,232			—			—			—
Variation margin on open future contracts (Note 4)				—			—			20,775			—			—
Unrealized appreciation on swap contracts (Note 4)				—			—			—			9,857,507			—
Upfront premiums paid on swap contracts				—			—			—			3,323,622			—
Deposits with counterparty(4)				—			2,765,000			—			11,053,778			—
Cash held at Broker				—			3,553,098			—			52,490,006			—
Prepaid expenses				25,230			27,746			16,875			10,577			30,853
Prepaid Chief Compliance Officer expense				—			3,277			—			—			—
Other assets				—			8,469			—			—			—
Total Assets				419,318,711			864,086,863			903,780,417			880,362,263			102,778,205
LIABILITIES:
Payable for collateral received from securities on loan				—			843,675			—			100			—
Payable for Fund shares repurchased				349,504			754,692			980,122			696,745			65,926
Payable for securities purchased				8,731,680			22,661,259			5,743,548			1,958,687			825,736
Investment management fee payable				216,675			519,094			417,310			630,703			63,281
Transfer agent fees payable				96,744			185,333			222,302			208,660			28,997
Custody fee payable				73,222			55,393			95,693			125,837			33,280
Trustees’ fees payable				15,698			15,958			22,990			46,824			3,971
Registration fees payable				13,996			23,923			11,810			41,865			51,456
Shareholder services				1,433			26,209			46,426			47,535			—
Upfront premiums received on swap contracts				—			—			—			11,366,800			—
Unrealized depreciation on swap contracts (Note 4)				—			—			—			207,257			—
Securities sold short(5) (Note 5)				—			2,297,208			—			40,922,894			—
Options contracts written, at value(6) (Note 4)				—			185,781			—			—			288,413
Unrealized depreciation on open forward foreign currency contracts (Note 4)				—			2,824			—			—			—
Investment interest payable on securities sold short				—			58,503			—			—			—
Accrued Chief Compliance Officer expense				—			—			—			11,091			—
Accrued expenses				88,244			17,400			34,837			96,250			12,253
Other liabilities				—			149,210			—			—			—
Total Liabilities				9,587,196			27,796,462			7,575,038			56,361,248			1,373,313
Total Net Assets			$	409,731,515		$	836,290,401		$	896,205,379		$	824,001,015		$	101,404,892
NET ASSETS:
Par value			$	44,727		$	91,945		$	94,324		$	80,087		$	10,478
Paid-in capital in excess of par value				448,030,523			914,612,792			945,154,202			807,055,528			105,856,017
Total distributable earnings (losses)				(38,343,735)			(78,414,336)			(49,043,147)			16,865,400			(4,461,603)
Total Net Assets			$	409,731,515		$	836,290,401		$	896,205,379		$	824,001,015		$	101,404,892
Total Net Assets Class I			$	376,204,892		$	767,072,092		$	848,011,280		$	758,494,562		$	99,392,108
Total Net Assets Class Z			$	33,526,623		$	69,218,309		$	48,194,099		$	65,506,453		$	2,012,784
Shares Outstanding Class I				41,145,569			84,471,588			89,266,407			73,565,549			10,267,160
Shares Outstanding Class Z				3,581,162			7,473,319			5,057,394			6,521,464			210,523
Net Asset Value Class I			$	9.14		$	9.08		$	9.50		$	10.31		$	9.68
Net Asset Value Class Z			$	9.36		$	9.26		$	9.53		$	10.04		$	9.56
(1) Investments, at cost			$	434,419,712		$	882,010,408		$	910,493,644		$	782,496,098		$	96,978,614
(2) Includes securities on loan			$	—		$	826,573		$	—		$	22		$	—
(3) Foreign currency, at cost			$	422		$	250		$	—		$	—		$	—
(4) Related to futures contracts			$	—		$	2,765,000		$	—		$	—		$	—
(5) Proceeds received			$	—		$	2,300,251		$	—		$	57,494,936		$	—
(6) Premiums received	��		$	—		$	150,066		$	—		$	—		$	584,027
(7) Related to swap contracts			$	—		$	—		$	—		$	—		$	—

See Notes to Financial Statements.

251

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Statements of Operations

For the Six Months Ended August 31, 2023 (unaudited)

	Destinations Large Cap Equity Fund			Destinations Small-Mid Cap Equity Fund			Destinations International Equity Fund			Destinations Equity Income Fund			Destinations Core Fixed Income Fund
INVESTMENT INCOME:
Dividends		$	26,461,428		$	6,125,759		$	50,029,198		$	16,094,069		$	925,268
Interest			1,395,778			547,488			1,847,304			366,493			38,452,266
Income from securities lending			118,611			161,194			179,631			43,077			—
Less: Foreign taxes withheld (Note 5)			(459,361)			(91)			(4,980,902)			(819,484)			—
Miscellaneous income			—			—			79,086			—			438
Total Investment Income			27,516,456			6,834,350			47,154,317			15,684,155			39,377,972
EXPENSES:
Investment management fee (Note 7)			15,669,613			4,166,596			12,172,543			2,731,711			6,806,429
Transfer agent fees			2,864,630			648,289			1,665,776			483,691			1,442,531
Custody fees			414,248			151,270			427,713			92,396			421,034
Trustees’ fees			238,900			63,434			136,033			30,110			118,341
Insurance			51,825			13,712			26,122			5,516			75,676
Audit and tax			92,184			23,521			42,445			17,228			42,616
Legal expense			92,997			23,817			55,976			12,481			45,247
Chief Compliance Officer expense			55,934			13,647			45,235			7,487			40,011
Shareholder reports fees			4,377			1,255			2,260			604			2,070
Shareholder services			111,789			57,410			81,569			54,690			84,988
Registration fees			151,233			80,033			126,086			27,289			79,635
Miscellaneous expense			104,083			29,680			116,442			9,977			98,992
Interest and dividend expense			43,603			22,334			5,552			5,262			8,808
Total Expenses			19,895,416			5,294,998			14,903,752			3,478,442			9,266,378
Less: Fee waivers and/or expense reimbursement (Note 7)			(2,971,866)			(7,647)			(2,780,571)			(344,559)			(850,615)
Net Expenses			16,923,550			5,287,351			12,123,181			3,133,883			8,415,763
Net Investment Income (Loss)		$	10,592,906		$	1,546,999		$	35,031,136		$	12,550,272		$	30,962,209
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES CONTRACTS, UNFUNDED LOAN COMMITMENTS, OPTIONS CONTRACTS WRITTEN, FORWARD SALE COMMITMENTS, SECURITIES SHORT SOLD, SWAP CONTRACTS, FORWARD FOREIGN CURRENCY CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS (NOTES 4 AND 5):
Net Realized Gain (Loss) From:
Investments		$	154,892,643		$	27,131,916		$	(1,249,169)*		$	(11,473,894)		$	(31,716,902)
Futures contracts			245,676			—			—			—			959,276
Forward sale commitments			—			—			—			—			1,301,331
Options contracts written			—			—			33,481			141,183			—
Securities sold short			—			—			—			—			(28,301)
Swap contracts			—			—			122,002			—			—
Forward foreign currency contracts			—			—			—			—			—
Foreign currency transactions			5,622			—			(568,223)			(15,519)			—
Realized Gain (Loss)			155,143,941			27,131,916			(1,661,909)			(11,348,230)			(29,484,596)
Change in Net Unrealized Appreciation (Depreciation) From:
Investments			315,781,960			(9,414,722)			76,182,440**			2,439,222			14,709,083
Futures contracts			102,351			—			—			—			(329,096)
Unfunded loan commitments			—			—			—			—			118
Options contracts written			—			—			20,045			(1,559)			—
Forward sale commitments			—			—			—			—			(160,807)
Securities sold short			—			—			—			—			—
Swap contracts			—			—			—			—			158,481
Forward foreign currency contracts			—			—			—			—			—
Foreign currency transactions			(957)			—			206,090			21,982			—
Change in Net Unrealized Appreciation (Depreciation):			315,883,354			(9,414,722)			76,408,575			2,459,645			14,377,779
Net Gain (Loss) on Investments, Futures Contracts, Options Contracts Written, Forward Sale Commitments, Securities Short Sold, Swap Contracts, Forward Foreign Currency Contracts and Foreign Currency Transactions			471,027,295			17,717,194			74,746,666			(8,888,585)			(15,106,817)
Total Increase (Decrease) in Net Assets from Operations		$	481,620,201		$	19,264,193		$	109,777,802		$	3,661,687		$	15,855,392

Includes foreign capital gains tax of $(371,279) for Destinations International Equity Fund.

Includes accrued foreign capital gains tax of $2,966,002 for Destinations International Equity Fund.

See Notes to Financial Statements.

252

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Statements of Operations

For the Six Months Ended August 31, 2023 (unaudited) (concluded)

	Destinations Low Duration Fixed Income Fund			Destinations Global Fixed Income Opportunities Fund			Destinations Municipal Fixed Income Fund			Destinations Multi Strategy Alternatives Fund			Destinations Shelter Fund
INVESTMENT INCOME:
Dividends		$	765,694		$	3,341,675		$	305,996		$	4,497,969		$	837,682
Interest			14,188,247			24,363,495			13,659,410			20,604,216			27,451
Income from securities lending			6,255			48,356			—			2,332			—
Less: Foreign taxes withheld (Note 5)			—			—			—			—			(4,294)
Miscellaneous income			—			—			—			—			—
Total Investment Income			14,960,196			27,753,526			13,965,406			25,104,517			860,839
EXPENSES:
Investment management fee (Note 7)			1,480,369			3,350,346			3,132,954			5,409,725			430,104
Transfer agent fees			307,596			560,814			646,563			573,237			81,111
Custody fees			119,679			136,782			193,794			174,121			48,622
Trustees’ fees			27,951			37,805			47,159			63,612			6,492
Insurance			6,585			8,127			11,809			13,461			2,031
Audit and tax			11,999			15,787			16,963			25,983			4,180
Legal expense			10,889			13,552			18,602			45,141			2,122
Chief Compliance Officer expense			7,647			9,345			17,513			20,790			2,438
Shareholder reports fees			23,086			821			894			1,371			61
Shareholder services			46,596			51,462			15,774			65,694			1,439
Registration fees			37,104			54,766			34,918			53,088			86,244
Miscellaneous expense			28,322			39,514			19,737			34,843			11,115
Interest and dividend expense			6,201			92,476			746			378,846			354
Total Expenses			2,114,024			4,371,597			4,157,426			6,859,912			676,313
Less: Fee waivers and/or expense reimbursement (Note 7)			(74,481)			(500,073)			(702,224)			(1,738,191)			(55,900)
Net Expenses			2,039,543			3,871,524			3,455,202			5,121,721			620,413
Net Investment Income (Loss)		$	12,920,653		$	23,882,002		$	10,510,204		$	19,982,796		$	240,426
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES CONTRACTS, UNFUNDED LOAN COMMITMENTS, OPTIONS CONTRACTS WRITTEN, FORWARD SALE COMMITMENTS, SECURITIES SHORT SOLD, SWAP CONTRACTS, FORWARD FOREIGN CURRENCY CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS (NOTES 4 AND 5):
Net Realized Gain (Loss) From:
Investments		$	(7,934,342)		$	(14,171,314)		$	(3,773,721)		$	3,405,419		$	(5,159,081)
Futures contracts			—			—			72,699			—			—
Forward sale commitments			—			—			—			—			—
Options contracts written			—			454,235			—			—			(298,724)
Securities sold short			—			177,612			—			10,066,143			—
Swap contracts			—			—			—			2,340,951			—
Forward foreign currency contracts			(1,432,785)			(1,454,266)			—			—			—
Foreign currency transactions			895,937			971,529			—			—			—
Realized Gain (Loss)			(8,471,190)			(14,022,204)			(3,701,022)			15,812,513			(5,457,805)
Change in Net Unrealized Appreciation (Depreciation) From:
Investments			6,508,165			10,293,761			1,124,645			(5,420,109)			16,212,136
Futures contracts			—			—			(19,078)			—			—
Unfunded loan commitments			—			—			—			—			—
Options contracts written			—			(172,843)			—			—			(135,290)
Forward sale commitments			—			—			—			—			—
Securities sold short			—			(107,808)			—			(5,262,381)			—
Swap contracts			—			—			—			4,718,801			—
Forward foreign currency contracts			(193,318)			106,838			—			—			—
Foreign currency transactions			(134,708)			(173,588)			—			—			—
Change in Net Unrealized Appreciation (Depreciation):			6,180,139			9,946,360			1,105,567			(5,963,689)			16,076,846
Net Gain (Loss) on Investments, Futures Contracts, Options Contracts Written, Forward Sale Commitments, Securities Short Sold, Swap Contracts, Forward Foreign Currency Contracts and Foreign Currency Transactions			(2,291,051)			(4,075,844)			(2,595,455)			9,848,824			10,619,041
Total Increase (Decrease) in Net Assets from Operations		$	10,629,602		$	19,806,158		$	7,914,749		$	29,831,620		$	10,859,467

See Notes to Financial Statements.

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Statements of Changes in Net Assets

For the Six Months Ended August 31, 2023 and Year Ended February 28, 2023 (unaudited)

	Destinations Large Cap Equity Fund						Destinations Small-Mid Cap Equity Fund						Destinations International Equity Fund
	August 31, 2023			February 28, 2023			August 31, 2023			February 28, 2023			August 31, 2023			February 28, 2023
OPERATIONS:
Net investment income (loss)		$	10,592,906		$	30,019,640		$	1,546,999		$	4,320,997		$	35,031,136		$	23,057,959
Net realized gain (loss)			155,143,941			(113,462,263)			27,131,916			(68,894,421)			(1,661,909)			(108,951,275)
Change in unrealized appreciation (depreciation)			315,883,354			(308,710,516)			(9,414,722)			(15,766,967)			76,408,575			(170,786,833)
Increase (Decrease) in Net Assets From Operations			481,620,201			(392,153,139)			19,264,193			(80,340,391)			109,777,802			(256,680,149)
DISTRIBUTIONS TO SHAREHOLDERS (NOTE 5):
Class I			—			(208,655,308)			—			(34,942,635)			—			(47,929,247)
Class Z			—			(27,383,971)			—			(4,523,397)			—			(5,791,597)
Decrease in Net Assets From Distributions to Shareholders			—			(236,039,279)			—			(39,466,032)			—			(53,720,844)
FUND SHARE TRANSACTIONS:
Net proceeds from sale of shares:
Class I			158,043,698			504,336,142			38,784,738			133,573,872			562,951,898			228,834,565
Class Z			29,872,990			78,471,942			6,615,668			20,629,275			66,186,743			37,882,738
Reinvestment of distributions:
Class I			—			206,900,479			—			34,693,512			—			47,529,535
Class Z			—			26,936,686			—			4,443,660			—			5,691,480
Cost of shares repurchased:
Class I			(958,389,101)			(938,155,299)			(327,279,114)			(222,745,216)			(222,444,714)			(574,480,158)
Class Z			(94,658,024)			(150,588,094)			(30,429,023)			(37,594,065)			(21,599,535)			(82,840,187)
Increase (Decrease) in Net Assets From Fund Share Transactions			(865,130,437)			(272,098,144)			(312,307,731)			(66,998,962)			385,094,392			(337,382,027)
Increase (Decrease) in Net Assets			(383,510,236)			(900,290,562)			(293,043,538)			(186,805,385)			494,872,194			(647,783,020)
NET ASSETS:
Beginning of period			4,388,783,605			5,289,074,167			1,136,582,775			1,323,388,160			2,023,987,662			2,671,770,682
End of period		$	4,005,273,369		$	4,388,783,605		$	843,539,237		$	1,136,582,775		$	2,518,859,856		$	2,023,987,662

	Destinations Equity Income Fund						Destinations Core Fixed Income Fund
	August 31, 2023			February 28, 2023			August 31, 2023			February 28, 2023
OPERATIONS:
Net investment income (loss)		$	12,550,272		$	17,968,124		$	30,962,209		$	56,483,287
Net realized gain (loss)			(11,348,230)			13,464,926			(29,484,596)			(111,507,289)
Change in unrealized appreciation (depreciation)			2,459,645			(35,314,418)			14,377,779			(164,503,972)
Increase (Decrease) in Net Assets From Operations			3,661,687			(3,881,368)			15,855,392			(219,527,974)
DISTRIBUTIONS TO SHAREHOLDERS (NOTE 5):
Class I			(12,707,260)			(27,242,743)			(35,132,107)			(51,511,757)
Class Z			(1,266,171)			(2,606,305)			(3,474,026)			(4,935,258)
Decrease in Net Assets From Distributions to Shareholders			(13,973,431)			(29,849,048)			(38,606,133)			(56,447,015)
FUND SHARE TRANSACTIONS:
Net proceeds from sale of shares:
Class I			29,660,289			297,686,879			318,874,271			403,068,744
Class Z			5,343,140			32,837,879			40,796,623			52,229,510
Reinvestment of distributions:
Class I			12,600,477			27,030,415			34,824,258			51,103,461
Class Z			1,226,958			2,504,455			3,412,040			4,834,646
Cost of shares repurchased:
Class I			(117,134,041)			(111,671,803)			(207,110,438)			(411,011,008)
Class Z			(10,171,214)			(16,748,275)			(18,354,614)			(64,928,010)
Increase (Decrease) in Net Assets From Fund Share Transactions			(78,474,391)			231,639,550			172,442,140			35,297,343
Increase (Decrease) in Net Assets			(88,786,135)			197,909,134			149,691,399			(240,677,646)
NET ASSETS:
Beginning of period			711,703,486			513,794,352			1,963,343,946			2,204,021,592
End of period		$	622,917,351		$	711,703,486		$	2,113,035,345		$	1,963,343,946

See Notes to Financial Statements.

254

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Statements of Changes in Net Assets

For the Six Months Ended August 31, 2023 and Year Ended February 28, 2023 (unaudited) (concluded)

	Destinations Low Duration Fixed Income Fund						Destinations Global Fixed Income Opportunities Fund						Destinations Municipal Fixed Income Fund
	August 31, 2023			February 28, 2023			August 31, 2023			February 28, 2023			August 31, 2023			February 28, 2023
OPERATIONS:
Net investment income (loss)		$	12,920,653		$	24,589,689		$	23,882,002		$	34,061,879		$	10,510,204		$	13,962,205
Net realized gain (loss)			(8,471,190)			(1,752,868)			(14,022,204)			(12,472,083)			(3,701,022)			(13,511,455)
Change in unrealized appreciation (depreciation)			6,180,139			(22,815,109)			9,946,360			(37,561,560)			1,105,567			(30,088,734)
Increase (Decrease) in Net Assets From Operations			10,629,602			21,712			19,806,158			(15,971,764)			7,914,749			(29,637,984)
DISTRIBUTIONS TO SHAREHOLDERS (NOTE 5):
Class I			(11,755,296)			(26,958,411)			(21,615,996)			(30,862,604)			(11,514,751)			(16,101,585)
Class Z			(1,027,713)			(2,249,387)			(1,893,905)			(2,718,796)			(673,411)			(912,995)
Decrease in Net Assets From Distributions to Shareholders			(12,783,009)			(29,207,798)			(23,509,901)			(33,581,400)			(12,188,162)			(17,014,580)
FUND SHARE TRANSACTIONS:
Net proceeds from sale of shares:
Class I			27,284,971			90,253,320			169,636,019			119,399,527			115,418,014			160,539,965
Class Z			5,532,674			9,730,784			17,487,197			13,620,653			10,785,287			17,583,000
Reinvestment of distributions:
Class I			11,643,430			26,746,026			21,418,234			30,612,580			11,386,509			15,945,827
Class Z			1,008,142			2,197,436			1,847,061			2,640,802			647,089			875,610
Cost of shares repurchased:
Class I			(112,104,696)			(177,476,575)			(82,233,296)			(142,145,739)			(93,672,282)			(200,082,715)
Class Z			(9,829,517)			(21,925,643)			(6,777,337)			(21,479,728)			(6,846,860)			(17,658,567)
Increase (Decrease) in Net Assets From Fund Share Transactions			(76,464,996)			(70,474,652)			121,377,878			2,648,095			37,717,757			(22,796,880)
Increase (Decrease) in Net Assets			(78,618,403)			(99,660,738)			117,674,135			(46,905,069)			33,444,344			(69,449,444)
NET ASSETS:
Beginning of period			488,349,918			588,010,656			718,616,266			765,521,335			862,761,035			932,210,479
End of period		$	409,731,515		$	488,349,918		$	836,290,401		$	718,616,266		$	896,205,379		$	862,761,035

	Destinations Multi Strategy Alternatives Fund							Destinations Shelter Fund
	August 31, 2023			February 28, 2023				August 31, 2023			February 28, 2023
OPERATIONS:
Net investment income (loss)		$	19,982,796		$	35,519,960			$	240,426		$	363,609
Net realized gain (loss)			15,812,513			(32,215,484)				(5,457,805)			(2,762,442)
Change in unrealized appreciation (depreciation)			(5,963,689)			7,486,759				16,076,846			(8,098,003)
Increase (Decrease) in Net Assets From Operations			29,831,620			10,791,235				10,859,467			(10,496,836)
DISTRIBUTIONS TO SHAREHOLDERS (NOTE 5) :
Class I			(12,334,940)			(28,931,104)				(153,311)			(484,190)
Class Z			(1,123,218)			(2,659,540)				(4,020)			(11,403)
Decrease in Net Assets From Distributions to Shareholders			(13,458,158)			(31,590,644)				(157,331)	��		(495,593)
FUND SHARE TRANSACTIONS:
Net proceeds from sale of shares:
Class I			78,353,556			111,935,599				1,655,126			8,031,819
Class Z			8,112,870			18,229,720				132,695			289,310
Reinvestment of distributions:
Class I			12,221,483			28,697,347	��			153,311			484,189
Class Z			1,100,634			2,601,205				4,020			11,403
Cost of shares repurchased:
Class I			(198,061,128)			(435,422,534)				(12,326,645)			(21,510,482)
Class Z			(17,261,546)			(55,202,524)				(104,620)			(461,290)
Increase (Decrease) in Net Assets From Fund Share Transactions			(115,534,131)			(329,161,187)				(10,486,113)			(13,155,051)
Increase (Decrease) in Net Assets			(99,160,669)			(349,960,596)				216,023			(24,147,480)
NET ASSETS:
Beginning of period			923,161,684			1,273,122,280				101,188,869			125,336,349
End of period		$	824,001,015		$	923,161,684			$	101,404,892		$	101,188,869

See Notes to Financial Statements.

255

TABLE OF CONTENTS

Financial Highlights

Destinations Large Cap Equity Fund

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2020), unless otherwise noted:

	Class I
	2023(1)			2023			2022			2021			2020			2019
Net asset value, Beginning of Period		$	12.69		$	14.44		$	15.84		$	11.88		$	11.61		$	11.71
Income (Loss) from Operations:
Net investment income(2)			0.03			0.08			0.04			0.07			0.10			0.11
Net realized and unrealized gain (loss)			1.48			(1.14)			1.33			4.19			0.40			0.18
Total Income (Loss) from Operations			1.51			(1.06)			1.37			4.26			0.50			0.29
Less Distributions From:
Net investment income			—			(0.07)			(0.10)			(0.01)			(0.10)			(0.10)
Net realized gain			—			(0.62)			(2.67)			(0.29)			(0.13)			(0.29)
Total Distributions			—			(0.69)			(2.77)			(0.30)			(0.23)			(0.39)
Net Asset Value, End of Period		$	14.20		$	12.69		$	14.44		$	15.84		$	11.88		$	11.61
Total Return(3)			11.90%(4)			(7.21)%			7.48%			35.94%			4.18%			2.73%
Net Assets, End of Period (millions)		$	3,628		$	3,992		$	4,783		$	4,450		$	3,651		$	3,427
Ratios to Average Net Assets:
Gross expenses			0.96%(5)			0.96%			0.95%			0.95%			0.95%			0.97%
Net expenses(6)			0.82%(5)			0.82%			0.80%			0.82%			0.82%			0.85%
Net investment income(6)			0.49%(5)			0.64%			0.21%			0.56%			0.84%			0.91%
Portfolio Turnover Rate(7)			43%(4)			71%			83%			48%			49%			28%

(1)

Figures are for the period ended August 31, 2023 (unaudited).

(2)

Per share amounts have been calculated using the average shares method.

(3)

Performance figures may reflect fee waivers and/or expense reimbursements and assume reinvestment of dividend distributions. In the absence of fee waivers and/or expense reimbursements, the total return would have been lower. Past performance is no guarantee of future results.

(4)

Not annualized.

(5)

Annualized.

(6)

Reflects fee waivers and/or expense reimbursements.

(7)

Reflects the rate for the Fund as a whole; not on a share class basis.

See Notes to Financial Statements.

256

TABLE OF CONTENTS

Financial Highlights (continued)

Destinations Large Cap Equity Fund

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2020), unless otherwise noted:

	Class Z
	2023(1)				2023			2022				2021			2020			2019(1)
Net asset value, Beginning of Period		$	9.65			$	11.18		$	12.81			$	9.65		$	9.46		$	10.00
Income (Loss) from Operations:
Net investment income(2)			0.03	��			0.08			0.05				0.08			0.10			0.07
Net realized and unrealized gain (loss)			1.13				(0.90)			1.12				3.40			0.34			(0.21)
Total Income (Loss) from Operations			1.16				(0.82)			1.17				3.48			0.44			(0.14)
Less Distributions From:
Net investment income			—				(0.09)			(0.13)				(0.03)			(0.12)			(0.11)
Net realized gain			—				(0.62)			(2.67)				(0.29)			(0.13)			(0.29)
Total Distributions			—				(0.71)			(2.80)				(0.32)			(0.25)			(0.40)
Net Asset Value, End of Period		$	10.81			$	9.65		$	11.18			$	12.81		$	9.65		$	9.46
Total Return(3)			12.02%(4)				(7.16)%			7.65%				36.16%			4.45%			(0.94)%(4)
Net Assets, End of Period (millions)		$	377			$	397		$	506			$	283		$	200		$	70
Ratios to Average Net Assets:
Gross expenses			0.81%(5)				0.81%			0.80%				0.80%			0.80%			0.82%(5)
Net expenses(6)			0.67%(5)				0.67%			0.65%				0.67%			0.67%			0.70%(5)
Net investment income(6)			0.64%(5)				0.79%			0.36%				0.70%			0.96%			1.06%(5)
Portfolio Turnover Rate(7)			43%(4)				71%			83%	��			48%			49%			28%(4)

(1)

Figures are for the period ended August 31, 2023 (unaudited), and for the period from inception of Class (July 16, 2018) through the period ended February 28, 2019 respectively.

(2)

Per share amounts have been calculated using the average shares method.

(3)

(4)

Not annualized.

(5)

Annualized.

(6)

Reflects fee waivers and/or expense reimbursements.

(7)

Reflects the rate for the Fund as a whole; not on a share class basis.

See Notes to Financial Statements.

257

TABLE OF CONTENTS

Financial Highlights (continued)

Destinations Small Mid Cap Equity

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2020), unless otherwise noted:

	Class I
	2023(1)			2023			2022			2021			2020			2019
Net asset value, Beginning of Period		$	11.79		$	12.97		$	16.43		$	10.92		$	11.31		$	10.98
Income (Loss) from Operations:
Net investment income (loss)(2)			0.02			0.04			(0.01)			0.01			0.06			0.06
Net realized and unrealized gain (loss)			0.20			(0.82)			0.55			5.80			0.04			0.84
Total Income (Loss) from Operations			0.22			(0.78)			0.54			5.81			0.10			0.90
Less Distributions From:
Net investment income			—			—			—			(0.00)*			(0.06)			(0.05)
Net realized gain			—			(0.40)			(4.00)			(0.30)			(0.43)			(0.52)
Total Distributions			—			(0.40)			(4.00)			(0.30)			(0.49)			(0.57)
Net Asset Value, End of Period		$	12.01		$	11.79		$	12.97		$	16.43		$	10.92		$	11.31
Total Return(3)			1.87%(4)			(5.86)%			1.66%			53.65%			0.52%			9.02%
Net Assets, End of Period (millions)		$	765		$	1,036		$	1,198		$	1,167		$	890		$	962
Ratios to Average Net Assets:
Gross expenses			1.15%(5)			1.13%			1.11%			1.11%			1.11%			1.12%
Net expenses(6)			1.15%(5)			1.12%			1.10%			1.11%			1.08%			1.03%
Net investment income(6)			0.32%(5)			0.36%			(0.05)%			0.09%			0.54%			0.53%
Portfolio Turnover Rate(7)			52%(4)			125%			111%			145%			110%			85%

Amount is less than $0.005 per share.

(1)

Figures are for the period ended August 31, 2023 (unaudited).

(2)

Per share amounts have been calculated using the average shares method.

(3)

(4)

Not annualized.

(5)

Annualized.

(6)

Reflects fee waivers and/or expense reimbursements.

(7)

Reflects the rate for the Fund as a whole; not on a share class basis.

See Notes to Financial Statements.

258

TABLE OF CONTENTS

Financial Highlights (continued)

Destinations Small Mid Cap Equity

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2020), unless otherwise noted:

	Class Z
	2023(1)			2023			2022			2021			2020			2019(1)
Net asset value, Beginning of Period		$	8.70		$	9.68		$	13.17		$	8.80		$	9.20		$	10.00
Income (Loss) from Operations:
Net investment income(2)			0.02			0.05			0.01			0.02			0.06			0.04
Net realized and unrealized gain (loss)			0.15			(0.63)			0.50			4.67			0.05			(0.25)
Total Income (Loss) from Operations			0.17			(0.58)			0.51			4.69			0.11			(0.21)
Less Distributions From:
Net investment income			—			—			—			(0.02)			(0.08)			(0.07)
Net realized gain			—			(0.40)			(4.00)			(0.30)			(0.43)			(0.52)
Total Distributions			—			(0.40)			(4.00)			(0.32)			(0.51)			(0.59)
Net Asset Value, End of Period		$	8.87		$	8.70		$	9.68		$	13.17		$	8.80		$	9.20
Total Return(3)			1.95%(4)			(5.78)%			1.86%			53.85%			0.69%			(1.24)%(4)
Net Assets, End of Period (millions)		$	79		$	101		$	126		$	74		$	46		$	19
Ratios to Average Net Assets:
Gross expenses			1.00%(5)			0.98%			0.96%			0.96%			0.97%			0.97%(5)
Net expenses(6)			1.00%(5)			0.97%			0.95%			0.96%			0.94%			0.88%(5)
Net investment income(6)			0.47%(5)			0.51%			0.10%			0.22%			0.66%			0.68%(5)
Portfolio Turnover Rate(7)			52%(4)			125%			111%			145%			110%			85%(4)

(1)

Figures are for the period ended August 31, 2023 (unaudited), and for the period from inception of Class (July 16, 2018) through the period ended February 28, 2019 respectively.

(2)

Per share amounts have been calculated using the average shares method.

(3)

(4)

Not annualized.

(5)

Annualized.

(6)

Reflects fee waivers and/or expense reimbursements.

(7)

Reflects the rate for the Fund as a whole; not on a share class basis.

See Notes to Financial Statements.

259

TABLE OF CONTENTS

Financial Highlights (continued)

Destinations International Equity Fund

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2020), unless otherwise noted:

	Class I
	2023(1)			2023			2022			2021			2020			2019
Net asset value, Beginning of Period		$	11.72		$	13.24		$	15.11		$	11.30		$	10.86		$	11.69
Income (Loss) from Operations:
Net investment income(2)			0.18			0.12			0.01			0.00*			0.09			0.09
Net realized and unrealized gain (loss)			0.42			(1.33)			(1.22)			3.81			0.44			(0.77)
Total Income (Loss) from Operations			0.60			(1.21)			(1.21)			3.81			0.53			(0.68)
Less Distributions From:
Net investment income			—			(0.20)			(0.03)			(0.00)*			(0.09)			(0.12)
Net realized gain			—			(0.11)			(0.63)			—			—			(0.03)
Total Distributions			—			(0.31)			(0.66)			—			(0.09)			(0.15)
Net Asset Value, End of Period		$	12.32		$	11.72		$	13.24		$	15.11		$	11.30		$	10.86
Total Return(3)			5.12%(4)			(9.07)%			(8.36)%			33.76%			4.83%			(5.71)%
Net Assets, End of Period (millions)		$	2,280		$	1,840		$	2,419		$	2,288		$	1,884		$	1,618
Ratios to Average Net Assets:
Gross expenses			1.24%(5)			1.26%			1.24%			1.24%			1.25%			1.28%
Net expenses(6)			1.01%(5)			1.16%			1.20%			1.23%			1.17%			1.18%
Net investment income(6)			2.85%(5)			1.02%			0.05%			0.02%			0.77%			0.83%
Portfolio Turnover Rate(7)			26%(4)			66%			48%			38%			27%			32%

Amount is less than $0.005 per share.

(1)

Figures are for the period ended August 31, 2023 (unaudited).

(2)

Per share amounts have been calculated using the average shares method.

(3)

(4)

Not annualized.

(5)

Annualized.

(6)

Reflects fee waivers and/or expense reimbursements.

(7)

Reflects the rate for the Fund as a whole; not on a share class basis.

See Notes to Financial Statements.

260

TABLE OF CONTENTS

Financial Highlights (continued)

Destinations International Equity Fund

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2020), unless otherwise noted:

	Class Z
	2023(1)			2023			2022			2021			2020			2019(1)
Net asset value, Beginning of Period		$	10.11		$	11.48		$	13.18		$	9.86		$	9.48		$	10.00
Income (Loss) from Operations:
Net investment income(2)			0.16			0.12			0.02			0.02			0.06			0.02
Net realized and unrealized gain (loss)			0.37			(1.16)			(1.05)			3.32			0.43			(0.38)
Total Income (Loss) from Operations			0.53			(1.04)			(1.03)			3.34			0.49			(0.36)
Less Distributions From:
Net investment income			—			(0.22)			(0.04)			(0.02)			(0.11)			(0.13)
Net realized gain			—			(0.11)			(0.63)			—			—			(0.03)
Total Distributions			—			(0.33)			(0.67)			(0.02)			(0.11)			(0.16)
Net Asset Value, End of Period		$	10.64		$	10.11		$	11.48		$	13.18		$	9.86		$	9.48
Total Return(3)			5.24%(4)			(8.98)%			(8.16)%			33.91%			5.05%			(3.43)%(4)
Net Assets, End of Period (millions)		$	239		$	184		$	253		$	145		$	99		$	33
Ratios to Average Net Assets:
Gross expenses			1.09%(5)			1.11%			1.09%			1.09%			1.10%			1.13%(5)
Net expenses(6)			0.86%(5)			1.01%			1.05%			1.08%			1.02%			1.03%(5)
Net investment income(6)			3%(5)			1.18%			0.13%			0.14%			0.62%			0.98%(5)
Portfolio Turnover Rate(7)			26%(4)			66%			48%			38%			27%			32%(4)

(1)

Figures are for the period ended August 31, 2023 (unaudited), and for the period from inception of Class (July 16, 2018) through the period ended February 28, 2019 respectively.

(2)

Per share amounts have been calculated using the average shares method.

(3)

(4)

Not annualized.

(5)

Annualized.

(6)

Reflects fee waivers and/or expense reimbursements.

(7)

Reflects the rate for the Fund as a whole; not on a share class basis.

See Notes to Financial Statements.

261

TABLE OF CONTENTS

Financial Highlights (continued)

Destinations Equity Income Fund

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2020), unless otherwise noted:

	Class I
	2023(1)			2023			2022			2021			2020			2019
Net asset value, Beginning of Period		$	11.27		$	11.91		$	10.26		$	9.74		$	10.20		$	10.14
Income (Loss) from Operations:
Net investment income(2)			0.20			0.36			0.34			0.34			0.35			0.32
Net realized and unrealized gain (loss)			(0.16)			(0.47)			1.65			0.63			(0.40)			0.39
Total Income (Loss) from Operations			0.04			(0.11)			1.99			0.97			(0.05)			0.71
Less Distributions From:
Net investment income			(0.23)			(0.34)			(0.34)			(0.31)			(0.32)			(0.29)
Net realized gain			—			(0.19)			—			(0.14)			(0.09)			(0.36)
Total Distributions			(0.23)			(0.53)			(0.34)			(0.45)			(0.41)			(0.65)
Net Asset Value, End of Period		$	11.08		$	11.27		$	11.91		$	10.26		$	9.74		$	10.20
Total Return(3)			0.33%(4)			(0.83)%			19.68%			10.37%			(0.78)%			7.52%
Net Assets, End of Period (millions)		$	567		$	652		$	469		$	375		$	441		$	391
Ratios to Average Net Assets:
Gross expenses			1.03%(5)			1.04%			1.04%			1.03%			1.03%			1.04%
Net expenses(6)			0.93%(5)			0.94%			0.92%			0.92%			0.88%			0.87%
Net investment income(6)			3.65%(5)			3.10%			2.94%			3.60%			3.31%			3.13%
Portfolio Turnover Rate(7)			27%(4)			46%			58%			54%			43%			74%

(1)

Figures are for the period ended August 31, 2023 (unaudited).

(2)

Per share amounts have been calculated using the average shares method.

(3)

(4)

Not annualized.

(5)

Annualized.

(6)

Reflects fee waivers and/or expense reimbursements.

(7)

Reflects the rate for the Fund as a whole; not on a share class basis.

See Notes to Financial Statements.

262

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Financial Highlights (continued)

Destinations Equity Income Fund

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2020), unless otherwise noted:

	Class Z
	2023(1)			2023			2022			2021			2020			2019(1)
Net asset value, Beginning of Period		$	10.89		$	11.52		$	9.94		$	9.44		$	9.89		$	10.00
Income (Loss) from Operations:
Net investment income(2)			0.21			0.36			0.35			0.34			0.36			0.20
Net realized and unrealized gain (loss)			(0.17)			(0.45)			1.59			0.62			(0.38)			0.21
Total Income (Loss) from Operations			0.04			(0.09)			1.94			0.96			(0.02)			0.41
Less Distributions From:
Net investment income			(0.23)			(0.35)			(0.36)			(0.32)			(0.34)			(0.16)
Net realized gain			—			(0.19)			—			(0.14)			(0.09)			(0.36)
Total Distributions			(0.23)			(0.54)			(0.36)			(0.46)			(0.43)			(0.52)
Net Asset Value, End of Period		$	10.70		$	10.89		$	11.52		$	9.94		$	9.44		$	9.89
Total Return(3)			0.40%(4)			(0.65)%			19.71%			10.63%			(0.58)%			4.51%(4)
Net Assets, End of Period (millions)		$	56		$	60		$	44		$	24		$	21		$	10
Ratios to Average Net Assets:
Gross expenses			0.88%(5)			0.89%			0.89%			0.88%			0.88%			0.89%(5)
Net expenses(6)			0.78%(5)			0.79%			0.77%			0.77%			0.74%			0.72%(5)
Net investment income(6)			3.79%(5)			3.24%			3.09%			3.72%			3.46%			3.28%(5)
Portfolio Turnover Rate(7)			27%(4)			46%			58%			54%			43%			74%(4)

(1)

Figures are for the period ended August 31, 2023 (unaudited), and for the period from inception of Class (July 16, 2018) through the period ended February 28, 2019 respectively.

(2)

Per share amounts have been calculated using the average shares method.

(3)

(4)

Not annualized.

(5)

Annualized.

(6)

Reflects fee waivers and/or expense reimbursements.

(7)

Reflects the rate for the Fund as a whole; not on a share class basis.

See Notes to Financial Statements.

263

TABLE OF CONTENTS

Financial Highlights (continued)

Destinations Core Fixed Income Fund

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2020), unless otherwise noted:

	Class I
	2023(1)			2023			2022			2021			2020			2019
Net asset value, Beginning of Period		$	8.31		$	9.52		$	10.19		$	10.42		$	9.83		$	9.83
Income (Loss) from Operations:
Net investment income(2)			0.12			0.24			0.12			0.20			0.28			0.28
Net realized and unrealized gain (loss)			(0.06)			(1.21)			(0.38)			(0.20)			0.59			(0.01)
Total Income (Loss) from Operations			0.06			(0.97)			(0.26)			—			0.87			0.27
Less Distributions From:
Net investment income			(0.15)			(0.24)			(0.13)			(0.20)			(0.28)			(0.27)
Net realized gain			—			—			(0.28)			(0.03)			—			—
Total Distributions			(0.15)			(0.24)			(0.41)			(0.23)			(0.28)			(0.27)
Net Asset Value, End of Period		$	8.22		$	8.31		$	9.52		$	10.19		$	10.42		$	9.83
Total Return(3)			0.76%(4)			(10.19)%			(2.72)%			0.05%			8.97%			2.77%
Net Assets, End of Period (millions)		$	1,919		$	1,793		$	2,002		$	2,079		$	1,896		$	1,708
Ratios to Average Net Assets:
Gross expenses			0.9%(5)			0.89%			0.87%			0.87%			0.88%			0.89%
Net expenses(6)			0.82%(5)			0.81%			0.79%			0.78%			0.80%			0.81%
Net investment income(6)			2.94%(5)			2.82%			1.18%			1.91%			2.80%			2.85%
Portfolio Turnover Rate(7)			95%(4)			198%			240%			204%			43%			64%

(1)

Figures are for the period ended August 31, 2023 (unaudited).

(2)

Per share amounts have been calculated using the average shares method.

(3)

(4)

Not annualized.

(5)

Annualized.

(6)

Reflects fee waivers and/or expense reimbursements.

(7)

Reflects the rate for the Fund as a whole; not on a share class basis.

See Notes to Financial Statements.

264

TABLE OF CONTENTS

Financial Highlights (continued)

Destinations Core Fixed Income Fund

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2020), unless otherwise noted:

	Class Z
	2023(1)			2023			2022			2021			2020			2019(1)
Net asset value, Beginning of Period		$	8.55		$	9.79		$	10.46		$	10.69		$	10.08		$	10.00
Income (Loss) from Operations:
Net investment income(2)			0.13			0.26			0.14			0.22			0.30			0.20
Net realized and unrealized gain (loss)			(0.06)			(1.24)			(0.39)			(0.21)			0.61			0.03
Total Income (Loss) from Operations			0.07			(0.98)			(0.25)			0.01			0.91			0.23
Less Distributions From:
Net investment income			(0.16)			(0.26)			(0.14)			(0.21)			(0.30)			(0.15)
Net realized gain			—			—			(0.28)			(0.03)			—			—
Total Distributions			(0.16)			(0.26)			(0.42)			(0.24)			(0.30)			(0.15)
Net Asset Value, End of Period		$	8.46		$	8.55		$	9.79		$	10.46		$	10.69		$	10.08
Total Return(3)			0.79%(4)			(10.08)%			(2.50)%			0.17%			9.11%			2.29%(4)
Net Assets, End of Period (millions)		$	194		$	170		$	202		$	121		$	99		$	29
Ratios to Average Net Assets:
Gross expenses			0.75%(5)			0.74%			0.72%			0.72%			0.73%			0.74%(5)
Net expenses(6)			0.67%(5)			0.66%			0.64%			0.63%			0.65%			0.66%(5)
Net investment income(6)			3.07%(5)			2.96%			1.36%			2.05%			2.90%			3.00%(5)
Portfolio Turnover Rate(7)			95%(4)			198%			240%			204%			43%			64%(4)

(1)

Figures are for the period ended August 31, 2023 (unaudited), and for the period from inception of Class (July 16, 2018) through the period ended February 28, 2019 respectively.

(2)

Per share amounts have been calculated using the average shares method.

(3)

(4)

Not annualized.

(5)

Annualized.

(6)

Reflects fee waivers and/or expense reimbursements.

(7)

Reflects the rate for the Fund as a whole; not on a share class basis.

See Notes to Financial Statements.

265

TABLE OF CONTENTS

Financial Highlights (continued)

Destinations Low Duration Fixed Income Fund

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2020), unless otherwise noted:

	Class I
	2023(1)			2023			2022			2021			2020			2019
Net asset value, Beginning of Period		$	9.19		$	9.68		$	9.73		$	9.75		$	9.84		$	9.90
Income (Loss) from Operations:
Net investment income(2)			0.28			0.42			0.30			0.34			0.33			0.35
Net realized and unrealized gain (loss)			(0.05)			(0.39)			0.03			(0.02)			(0.08)			(0.08)
Total Income from Operations			0.23			0.03			0.33			0.32			0.25			0.27
Less Distributions From:
Net investment income			(0.28)			(0.51)			(0.37)			(0.34)			(0.34)			(0.33)
Net realized gain			—			(0.01)			(0.01)			—			—			—
Total Distributions			(0.28)			(0.52)			(0.38)			(0.34)			(0.34)			(0.33)
Net Asset Value, End of Period		$	9.14		$	9.19		$	9.68		$	9.73		$	9.75		$	9.84
Total Return(3)			2.56%(4)			0.37%			3.40%			3.43%			2.59%			2.79%
Net Assets, End of Period (millions)		$	376		$	451		$	539		$	418		$	320		$	386
Ratios to Average Net Assets:
Gross expenses			1.01%(5)			0.96%			0.93%			0.95%			0.96%			0.97%
Net expenses(6)			0.97%(5)			0.94%			0.93%			0.95%			0.94%			0.93%
Net investment income(6)			6.08%(5)			4.51%			3.09%			3.63%			3.30%			3.51%
Portfolio Turnover Rate(7)			36%(4)			98%			107%			168%			138%			120%

(1)

Figures are for the period ended August 31, 2023 (unaudited).

(2)

Per share amounts have been calculated using the average shares method.

(3)

(4)

Not annualized.

(5)

Annualized.

(6)

Reflects fee waivers and/or expense reimbursements.

(7)

Reflects the rate for the Fund as a whole; not on a share class basis.

See Notes to Financial Statements.

266

TABLE OF CONTENTS

Financial Highlights (continued)

Destinations Low Duration Fixed Income Fund

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2020), unless otherwise noted:

	Class Z
	2023(1)			2023			2022			2021			2020			2019(1)
Net asset value, Beginning of Period		$	9.40		$	9.89		$	9.93		$	9.94		$	10.03		$	10.00
Income (Loss) from Operations:
Net investment income(2)			0.29			0.44			0.33			0.36			0.34			0.22
Net realized and unrealized gain (loss)			(0.04)			(0.40)			0.02			(0.02)			(0.07)			(0.03)
Total Income from Operations			0.25			0.04			0.35			0.34			0.27			0.19
Less Distributions From:
Net investment income			(0.29)			(0.52)			(0.38)			(0.35)			(0.36)			(0.16)
Net realized gain			—			(0.01)			(0.01)			—			—			—
Total Distributions			(0.29)			(0.53)			(0.39)			(0.35)			(0.36)			(0.16)
Net Asset Value, End of Period		$	9.36		$	9.40		$	9.89		$	9.93		$	9.94		$	10.03
Total Return(3)			2.68%(4)			0.49%			3.56%			3.60%			2.69%			1.82%(4)
Net Assets, End of Period (millions)		$	34		$	37		$	49		$	22		$	14		$	6
Ratios to Average Net Assets:
Gross expenses			0.86%(5)			0.80%			0.78%			0.80%			0.82%			0.82%(5)
Net expenses(6)			0.82%(5)			0.79%			0.78%			0.80%			0.80%			0.78%(5)
Net investment income(6)			6.23%(5)			4.63%			3.28%			3.78%			3.40%			3.66%(5)
Portfolio Turnover Rate(7)			36%(4)			98%			107%			168%			138%			120%(4)

(1)

Figures are for the period ended August 31, 2023 (unaudited), and for the period from inception of Class (July 16, 2018) through the period ended February 28, 2019 respectively.

(2)

Per share amounts have been calculated using the average shares method.

(3)

(4)

Not annualized.

(5)

Annualized.

(6)

Reflects fee waivers and/or expense reimbursements.

(7)

Reflects the rate for the Fund as a whole; not on a share class basis.

See Notes to Financial Statements.

267

TABLE OF CONTENTS

Financial Highlights (continued)

Destinations Global Fixed Income Opportunities Fund

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2020), unless otherwise noted:

	Class I
	2023(1)			2023			2022			2021			2020			2019
Net asset value, Beginning of Period		$	9.12		$	9.76		$	10.02		$	9.83		$	9.82		$	9.99
Income (Loss) from Operations:
Net investment income(2)			0.28			0.44			0.32			0.40			0.39			0.38
Net realized and unrealized gain (loss)			(0.05)			(0.65)			(0.17)			0.19			0.02			(0.18)
Total Income (Loss) from Operations			0.23			(0.21)			0.15			0.59			0.41			0.20
Less Distributions From:
Net investment income			(0.27)			(0.43)			(0.41)			(0.40)			(0.40)			(0.37)
Total Distributions			(0.27)			(0.43)			(0.41)			(0.40)			(0.40)			(0.37)
Net Asset Value, End of Period		$	9.08		$	9.12		$	9.76		$	10.02		$	9.83		$	9.82
Total Return(3)			2.56%(4)			(2.09)%			1.49%			6.28%			4.18%			2.20%
Net Assets, End of Period (millions)		$	767		$	662		$	699		$	718		$	733		$	769
Ratios to Average Net Assets:
Gross expenses(6)			1.12%(5)			1.14%			1.19%			1.13%			1.11%			1.09%
Net expenses(6)(7)			0.99%(5)			1.03%			1.08%			1.02%			1.00%			0.98%
Net investment income(7)			6.04%(5)			4.70%			3.17%			4.17%			3.92%			3.90%
Portfolio Turnover Rate(8)			34%(4)			58%			90%			164%			84%			79%

(1)

Figures are for the period ended August 31, 2023 (unaudited).

(2)

Per share amounts have been calculated using the average shares method.

(3)

(4)

Not annualized.

(5)

Annualized.

(6)

Ratios include interest and dividend expense on short sales which represent less than 0.01%, 0.04%, 0.09%, 0.05%, 0.03% and 0.00% (annualized) for the period ended August 31, 2023, for the year ended February 28, 2023, for the year ended February 28, 2022, for the year ended February 28, 2021, for the year ended February 29, 2020 and the year ended February 28, 2019, respectively.

(7)

Reflects fee waivers and/or expense reimbursements.

(8)

Reflects the rate for the Fund as a whole; not on a share class basis.

See Notes to Financial Statements.

268

TABLE OF CONTENTS

Financial Highlights (continued)

Destinations Global Fixed Income Opportunities Fund

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2020), unless otherwise noted:

	Class Z
	2023(1)			2023			2022			2021			2020			2019(1)
Net asset value, Beginning of Period		$	9.30		$	9.94		$	10.19		$	9.99		$	9.98		$	10.00
Income (Loss) from Operations:
Net investment income(2)			0.29			0.46			0.34			0.42			0.41			0.26
Net realized and unrealized gain (loss)			(0.05)			(0.66)			(0.17)			0.19			0.01			(0.08)
Total Income (Loss) from Operations			0.24			(0.20)			0.17			0.61			0.42			0.18
Less Distributions From:
Net investment income			(0.28)			(0.44)			(0.42)			(0.41)			(0.41)			(0.20)
Total Distributions			(0.28)			(0.44)			(0.42)			(0.41)			(0.41)			(0.20)
Net Asset Value, End of Period		$	9.26		$	9.30		$	9.94		$	10.19		$	9.99		$	9.98
Total Return(3)			2.59%(4)			(1.91)%			1.67%			6.43%			4.26%			1.72%(4)
Net Assets, End of Period (millions)		$	69		$	57		$	66		$	40		$	34		$	14
Ratios to Average Net Assets:
Gross expenses(6)			0.97%(5)			0.99%			1.04%			0.98%			0.96%			0.94%(5)
Net expenses(6)(7)			0.84%(5)			0.88%			0.93%			0.87%			0.85%			0.83%(5)
Net investment income(7)			6.18%(5)			4.83%			3.30%			4.31%			4.06%			4.05%(5)
Portfolio Turnover Rate(8)			34%(4)			58%			90%			164%			84%			79%(4)

(1)

For the period from Class inception (July 16, 2018) through the period ended February 28, 2019.

(2)

Per share amounts have been calculated using the average shares method.

(3)

(4)

Not annualized.

(5)

Annualized.

(6)

(7)

Reflects fee waivers and/or expense reimbursements.

(8)

Reflects the rate for the Fund as a whole; not on a share class basis.

See Notes to Financial Statements.

269

TABLE OF CONTENTS

Financial Highlights (continued)

Destinations Municipal Fixed Income Fund

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2020), unless otherwise noted:

	Class I
	2023(1)			2023			2022			2021			2020			2019
Net asset value, Beginning of Period		$	9.54		$	10.07		$	10.38		$	10.61		$	10.11		$	9.93
Income (Loss) from Operations:
Net investment income(2)			0.11			0.16			0.10			0.13			0.16			0.17
Net realized and unrealized gain (loss)			(0.02)			(0.50)			(0.26)			(0.13)			0.58			0.15
Total Income (Loss) from Operations			0.09			(0.34)			(0.16)			—			0.74			0.32
Less Distributions From:
Net investment income			(0.13)			(0.19)			(0.13)			(0.16)			(0.20)			(0.14)
Net realized gain			—			—			(0.02)			(0.07)			(0.04)			—
Total Distributions			(0.13)			(0.19)			(0.15)			(0.23)			(0.24)			(0.14)
Net Asset Value, End of Period		$	9.50		$	9.54		$	10.07		$	10.38		$	10.61		$	10.11
Total Return(3)			0.95%(4)			(4.87)%			(1.53)%			0.00%			7.38%			3.30%
Net Assets, End of Period (millions)		$	848		$	819		$	887		$	884		$	878		$	862
Ratios to Average Net Assets:
Gross expenses			0.94%(5)			0.94%			0.93%			0.93%			0.95%			0.95%
Net expenses(6)			0.78%(5)			0.78%			0.76%			0.77%			0.80%			0.80%
Net investment income(6)			2.34%(5)			1.62%			0.97%			1.26%			1.56%			1.71%
Portfolio Turnover Rate(7)			34%(4)			48%			41%			38%			38%			84%

(1)

Figures are for the period ended August 31, 2023 (unaudited).

(2)

Per share amounts have been calculated using the average shares method.

(3)

(4)

Not annualized.

(5)

Annualized.

(6)

Reflects fee waivers and/or expense reimbursements.

(7)

Reflects the rate for the Fund as a whole; not on a share class basis.

See Notes to Financial Statements.

270

TABLE OF CONTENTS

Financial Highlights (continued)

Destinations Municipal Fixed Income Fund

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2020), unless otherwise noted:

	Class Z
	2023(1)			2023			2022			2021			2020			2019(1)
Net asset value, Beginning of Period		$	9.57		$	10.10		$	10.40		$	10.64		$	10.14		$	10.00
Income (Loss) from Operations:
Net investment income(2)			0.12			0.17			0.12			0.15			0.18			0.13
Net realized and unrealized gain (loss)			(0.02)			(0.50)			(0.25)			(0.14)			0.57			0.11
Total Income (Loss) from Operations			0.10			(0.33)			(0.13)			0.01			0.75			0.24
Less Distributions From:
Net investment income			(0.14)			(0.20)			(0.15)			(0.18)			(0.21)			(0.10)
Net realized gain			—			—			(0.02)			(0.07)			(0.04)			—
Total Distributions			(0.14)			(0.20)			(0.17)			(0.25)			(0.25)			(0.10)
Net Asset Value, End of Period		$	9.53		$	9.57		$	10.10		$	10.40		$	10.64		$	10.14
Total Return(3)			1.02%(4)			(3.21)%			(1.29)%			0.05%			7.51%			2.42%(4)
Net Assets, End of Period (millions)		$	48		$	44		$	45		$	26		$	19		$	12
Ratios to Average Net Assets:
Gross expenses			0.79%(5)			0.79%			0.78%			0.78%			0.80%			0.80%(5)
Net expenses(6)			0.63%(5)			0.63%			0.61%			0.62%			0.65%			0.65%(5)
Net investment income(6)			2.49%(5)			1.77%			1.14%			1.40%			1.71%			1.86%(5)
Portfolio Turnover Rate(7)			34%(4)			48%			41%			38%			38%			84%(4)

(1)

Figures are for the period ended August 31, 2023 (unaudited), and for the period from inception of Class (July 16, 2018) through the period ended February 28, 2019 respectively.

(2)

Per share amounts have been calculated using the average shares method.

(3)

(4)

Not annualized.

(5)

Annualized.

(6)

Reflects fee waivers and/or expense reimbursements.

(7)

Reflects the rate for the Fund as a whole; not on a share class basis.

See Notes to Financial Statements.

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Financial Highlights (continued)

Destinations Multi Strategy Alternatives Fund

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2020), unless otherwise noted:

	Class I
	2023(1)			2023			2022			2021			2020			2019
Net asset value, Beginning of Period		$	10.10		$	10.22		$	10.57		$	9.67		$	9.76		$	10.20
Income (Loss) from Operations:
Net investment income(2)			0.25			0.31			0.10			0.14			0.37			0.40
Net realized and unrealized gain (loss)			0.13			(0.13)			0.03			0.91			(0.02)			(0.32)
Total Income from Operations			0.38			0.18			0.13			1.05			0.35			0.08
Less Distributions From:
Net investment income			(0.17)			(0.27)			(0.22)			(0.15)			(0.41)			(0.35)
Net realized gain			—			(0.03)			(0.26)			—			(0.03)			(0.17)
Total Distributions			(0.17)			(0.30)			(0.48)			(0.15)			(0.44)			(0.52)
Net Asset Value, End of Period		$	10.31		$	10.10		$	10.22		$	10.57		$	9.67		$	9.76
Total Return(3)			3.85%(4)			1.87%			1.25%			11.09%			3.76%			1.10%
Net Assets, End of Period (millions)		$	758		$	851		$	1,165		$	1,102		$	888		$	897
Ratios to Average Net Assets:
Gross expenses(6)			1.72%(5)			1.75%			1.75%			1.79%			1.73%			1.71%
Net expenses(6)(7)			1.29%(5)			1.30%			1.31%			1.40%			1.34%			1.23%
Net investment income(7)			4.96%(5)			3.13%			0.93%			1.40%			3.86%			4.01%
Portfolio Turnover Rate(8)			42%(4)			70%			90%			150%			119%			109%

(1)

Figures are for the period ended August 31, 2023 (unaudited).

(2)

Per share amounts have been calculated using the average shares method.

(3)

(4)

Not annualized.

(5)

Annualized.

(6)

Ratios include interest and dividend expense on short sales which represent less than 0.05%, 0.15%, 0.19%, 0.22%, 0.16% and 0.12% (annualized) for the period ended August 31, 2023, for the year ended February 28, 2023, for the year ended February 28, 2022, for the year ended February 28, 2021, for the year ended February 29, 2020 and the year ended February 28, 2019, respectively.

(7)

Reflects fee waivers and/or expense reimbursements.

(8)

Reflects the rate for the Fund as a whole; not on a share class basis.

See Notes to Financial Statements.

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Financial Highlights (continued)

Destinations Multi Strategy Alternatives Fund

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2020), unless otherwise noted:

	Class Z
	2023(1)			2023			2022			2021			2020			2019(1)
Net asset value, Beginning of Period		$	9.85		$	9.96		$	10.32		$	9.44		$	9.54		$	10.00
Income (Loss) from Operations:
Net investment income(2)			0.25			0.32			0.11			0.14			0.35			0.31
Net realized and unrealized gain (loss)			0.12			(0.12)			0.03			0.91			—			(0.35)
Total Income (Loss) from Operations			0.37			0.20			0.14			1.05			0.35			(0.04)
Less Distributions From:
Net investment income			(0.18)			(0.28)			(0.24)			(0.17)			(0.42)			(0.25)
Net realized gain			—			(0.03)			(0.26)			—			(0.03)			(0.17)
Total Distributions			(0.18)			(0.31)			(0.50)			(0.17)			(0.45)			(0.42)
Net Asset Value, End of Period		$	10.04		$	9.85		$	9.96		$	10.32		$	9.44		$	9.54
Total Return(3)			3.80%(4)			2.16%			1.31%			11.29%			3.87%			(0.21)%(4)
Net Assets, End of Period (millions)		$	66		$	72		$	108		$	60		$	41		$	15
Ratios to Average Net Assets:
Gross expenses(6)			1.57%(5)			1.60%			1.60%			1.64%			1.59%			1.56%(5)
Net expenses(6)(7)			1.14%(5)			1.15%			1.16%			1.25%			1.20%			1.08%(5)
Net investment income(7)			5.11%(5)			3.24%			1.10%			1.52%			3.75%			4.16%(5)
Portfolio Turnover Rate(8)			42%(4)			70%			90%			150%			119%			109%(4)

(1)

Figures are for the period ended August 31, 2023 (unaudited) and for the period from Class inception (July 16, 2018) through the period ended February 28, 2019.

(2)

Per share amounts have been calculated using the average shares method.

(3)

(4)

Not annualized.

(5)

Annualized.

(6)

(7)

Reflects fee waivers and/or expense reimbursements.

(8)

Reflects the rate for the Fund as a whole; not on a share class basis.

See Notes to Financial Statements.

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Financial Highlights (continued)

Destinations Shelter Fund

For a share of beneficial interest outstanding throughout each year ended February 28, unless otherwise noted:

	Class I
	2023(1)			2023			2022(1)
Net asset value, Beginning of Period		$	8.70		$	9.56		$	10.00
Income (Loss) from Operations:
Net investment income(2)			0.02			0.03			0.01
Net realized and unrealized gain (loss)			0.97			(0.85)			(0.44)
Total Income (Loss) from Operations			0.99			(0.82)			(0.43)
Less Distributions From:
Net investment income			(0.01)			(0.02)			(0.01)
Net realized gain			—			(0.02)			—
Total Distributions			(0.01)			(0.04)			(0.01)
Net Asset Value, End of Period		$	9.68		$	8.70		$	9.56
Total Return(3)			11.44%(4)			(8.56)%			(4.33)%(4)
Net Assets, End of Period (millions)		$	99		$	99		$	123
Ratios to Average Net Assets:
Gross expenses			1.34%(5)			1.40%			1.40%(5)
Net expenses(6)			1.23%(5)			1.29%			1.27%(5)
Net investment income(6)			0.47%(5)			0.33%			0.27%(5)
Portfolio Turnover Rate(7)			3%(4)			5%			2%(4)

(1)

Figures are for the period ended August 31, 2023 (unaudited) and for the period from Class inception (October 27, 2021) through the period ended February 28, 2022.

(2)

Per share amounts have been calculated using the average shares method.

(3)

(4)

Not annualized.

(5)

Annualized.

(6)

Reflects fee waivers and/or expense reimbursements.

(7)

Reflects the rate for the Fund as a whole; not on a share class basis.

See Notes to Financial Statements.

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Financial Highlights (continued)

Destinations Shelter Fund

For a share of beneficial interest outstanding throughout each year ended February 28, unless otherwise noted:

	Class Z
	2023(1)			2023			2022(1)
Net asset value, Beginning of Period		$	8.60		$	9.44		$	10.00
Income (Loss) from Operations:
Net investment income(2)			0.03			0.04			0.01
Net realized and unrealized gain (loss)			0.95			(0.83)			(0.56)
Total Income (Loss) from Operations			0.98			(0.79)			(0.55)
Less Distributions From:
Net investment income			(0.02)			(0.03)			(0.01)
Net realized gain			—			(0.02)			—
Total Distributions			(0.02)			(0.05)			(0.01)
Net Asset Value, End of Period		$	9.56		$	8.60		$	9.44
Total Return(3)			11.39%(4)			(8.33)%			(5.51)%(4)
Net Assets, End of Period (millions)		$	2		$	2		$	2
Ratios to Average Net Assets:
Gross expenses			1.19%(5)			1.25%			1.22%(5)
Net expenses(6)			1.08%(5)			1.14%			1.04%(5)
Net investment income(6)			0.62%(5)			0.48%			0.30%(5)
Portfolio Turnover Rate(7)			3%(4)			5%			2%(4)

(1)

Figures are for the period ended August 31, 2023 (unaudited) and for the period from Class inception (December 2, 2021) through the period ended February 28, 2022.

(2)

Per share amounts have been calculated using the average shares method.

(3)

(4)

Not annualized.

(5)

Annualized.

(6)

Reflects fee waivers and/or expense reimbursements.

(7)

Reflects the rate for the Fund as a whole; not on a share class basis.

See Notes to Financial Statements.

275

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Notes to Financial Statements

August 31, 2023 (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, Destinations Multi Strategy Alternatives Fund and Destinations Shelter Fund (individually, a “Fund” and collectively, the “Funds”). Each Fund currently offers two classes of shares designated as Class I and Class Z shares.

Orion Portfolio Solutions, LLC serves as the investment adviser for the Funds. With respect to the Funds, Orion Portfolio Solutions, LLC will continue to conduct business as Brinker Capital Investments (“Brinker Capital” or the “Advisor”). 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. Accounting Policies

The Funds’ financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Estimates and assumptions are required to be made by management regarding assets, liabilities and changes in net assets resulting from operations when financial statements are prepared. Changes in the economic environment, financial markets and any other parameters used in determining these estimates could cause actual results to differ. The Funds are investment companies and follow the accounting and reporting guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946 — Investment Companies.

Each class of shares represents an interest in the same portfolio of investments of each fund and has equal rights to voting, redemption, dividends and liquidation, except that each class bears different class expenses and each has exclusive voting rights with respect to matters that relate solely to that class or for which the interests of one class differ from the interests of another class. Differences in class-specific fees and expenses will result in differences in net investment income and, therefore, the payment of different dividends from net investment income earned by each class. Income, common expenses and realized and unrealized gains and losses are calculated at the Fund level and allocated daily to each class of shares based on its respective percentage of adjusted net assets at the beginning of the day.

3. 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.

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Notes to Financial Statements

August 31, 2023 (unaudited) (continued)

3. Investment valuation (continued)

The Board of Trustees (the “Board”) has ultimate responsibility for ensuring the Funds’ investments are valued appropriately. Pursuant to the requirements of the 1940 Act and Rule 2a-5, the Board designated a committee of persons at the investment adviser as the “Valuation Designee” to perform fair value determinations and approved revised policies and procedures for the Trust. The Valuation Designee is subject to the Board’s oversight and certain reporting and other requirements intended to ensure that the Board receives the information it needs to oversee the Valuation Designee’s fair value determinations. 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.

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Notes to Financial Statements

August 31, 2023 (unaudited) (continued)

3. Investment valuation (continued)

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.

The Funds’ policy is to recognize transfers between levels at the end of the reporting period. 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 August 31, 2023			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		$	55,553,756		$	55,553,756		$	—		$	—
Communications			474,405,957			474,405,957			—			—
Consumer Cyclical			376,377,272			376,377,272			—			—
Consumer Non-cyclical			927,584,673			927,584,673			—			—
Energy			240,110,783			240,110,783			—			—
Financial			683,679,651			682,864,721			—			814,930
Industrial			266,236,353			266,236,353			—			—
Technology			808,826,311			804,853,242			—			3,973,069
Utilities			57,419,844			57,419,844			—			—
Exchange Traded Funds (ETFs)			63,145,587			63,145,587			—			—

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Notes to Financial Statements

August 31, 2023 (unaudited) (continued)

3. Investment valuation (continued)

	Total Fair Value at August 31, 2023			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 (continued)
Investments, at value (continued)
Preferred Stocks:
Consumer Cyclical		$	3,377,918		$	2,514,406		$	—		$	863,512
Financial			603,737			—			—			603,737
Industrial			3,552,048			—			—			3,552,048
Technology			2,071,939			—			—			2,071,939
Short-Term Investments:
Time Deposits			49,836,701			—			49,836,701			—
Total Investments, at value		$	4,012,782,530		$	3,951,066,594		$	49,836,701		$	11,879,235
Other Financial Instruments – Assets
Futures Contracts		$	124,546		$	124,546		$	—		$	—
Total Other Financial Instruments – Assets		$	124,546		$	124,546		$	—		$	—
Destinations Small-Mid Cap Equity Fund
Investments, at value
Common Stocks		$	781,441,427		$	781,441,427		$	—		$	—
Exchange Traded Funds (ETFs)			40,627,063			40,627,063			—			—
Short-Term Investments:
Time Deposits			22,334,948			—			22,334,948			—
Money Market Fund			22,079,194			22,079,194			—			—
Total Investments, at value		$	866,482,632		$	844,147,684		$	22,334,948		$	—
Destinations International Equity Fund
Investments, at value
Common Stocks:
Argentina		$	2,241,820		$	2,241,820		$	—		$	—
Australia			26,064,872			—			26,064,872			—
Austria			1,547,326			—			1,547,326			—
Belgium			1,012,860			—			1,012,860			—
Bermuda			2,194,408			—			2,194,408			—
Brazil			45,945,516			11,389,638			34,555,878			—
Canada			118,450,806			18,077,079			100,373,727			—
China			89,471,146			32,503,797			56,967,349			—
Cyprus			2			—			2			—
Denmark			17,564,231			6,024,483			11,539,748			—
Finland			3,784,016			—			3,784,016			—
France			191,742,364			—			191,742,364			—
Germany			163,247,419			—			163,247,419			—
Greece			1,690,383			—			1,690,383			—
Hong Kong			57,616,152			—			57,616,152			—
India			154,969,750			12,789,911			141,696,043			483,796
Indonesia			16,461,759			—			16,461,759			—
Ireland			34,556,693			4,607,086			29,949,607			—
Israel			4,887,834			1,543,985			3,343,849			—
Italy			49,378,500			2,205,790			47,172,710			—

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Notes to Financial Statements

August 31, 2023 (unaudited) (continued)

3. Investment valuation (continued)

	Total Fair Value at August 31, 2023			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 (continued)
Investments, at value (continued)
Common Stocks: (continued)
Japan		$	344,175,135		$	—		$	344,175,135		$	—
Jersey, Channel Islands			3,942,675			—			3,942,675			—
Luxembourg			2,841,576			148,411			2,693,165			—
Malaysia			1,146,327			—			1,146,327			—
Mexico			7,026,750			—			7,026,750			—
Netherlands			90,438,695			—			90,438,695			—
Norway			40,509,391			—			40,509,391			—
Peru			3,293,328			2,781,787			511,541			—
Philippines			5,177,707			—			5,177,707			—
Poland			5,329,116			—			5,329,116			—
Portugal			8,252,718			—			8,252,718			—
Russia			32,983			—			—			32,983
Saudi Arabia			2,914,276			—			2,914,276			—
Singapore			30,474,149			1,404,389			29,069,760			—
South Africa			3,425,302			786,735			2,638,567			—
South Korea			73,529,227			—			73,529,227			—
Spain			25,572,862			—			25,572,862			—
Sweden			74,828,268			1,046,696			73,781,572			—
Switzerland			127,342,432			—			127,342,432			—
Taiwan			66,652,634			27,180,962			39,471,672			—
Thailand			7,030,367			—			7,030,367			—
Turkey			7,590,644			—			7,590,644			—
United Arab Emirates			402,441			—			402,441			—
United Kingdom			243,834,670			8,047,331			235,783,417			3,922
United States			41,565,266			40,955,136			610,130			—
Uruguay			13,727,717			13,727,717			—			—
Exchange Traded Funds (ETFs)			223,150,599			223,150,599			—			—
Preferred Stocks			34,133			—			34,133			—
Warrants:
Canada			—*			—			—*			—
United States			168			168			—			—
Right			1,289			—			1,289			—
Short-Term Investments:
Time Deposits			80,595,119			—			80,595,119			—
Money Market Fund			20,632,983			20,632,983			—			—
Total Investments, at value		$	2,538,298,804		$	431,246,503		$	2,106,531,600		$	520,701
Other Financial Instruments – Liabilities
Options Contracts Written		$	(6,236)		$	(6,236)		$	—		$	—
Total Other Financial Instruments – Liabilities		$	(6,236)		$	(6,236)		$	—		$	—

280

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Notes to Financial Statements

August 31, 2023 (unaudited) (continued)

3. Investment valuation (continued)

	Total Fair Value at August 31, 2023			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
Corporate Bond & Note		$	1,265,550		$	—		$	1,265,550		$	—
Common Stocks:
Basic Materials			32,055,778			24,188,405			7,867,373			—
Communications			35,572,848			20,338,357			15,234,491			—
Consumer Cyclical			39,271,897			30,722,370			8,549,527			—
Consumer Non-cyclical			138,716,752			101,749,290			36,967,462			—
Energy			66,179,472			38,601,759			27,577,713			—
Financial			108,379,306			67,288,105			41,091,201			—
Industrial			69,842,557			48,064,259			21,778,298			—
Technology			37,658,005			28,447,715			9,210,290			—
Utilities			61,889,081			48,619,797			13,269,284			—
Exchange Traded Funds (ETFs)			20,887,776			20,887,776			—			—
Short-Term Investments:
Equity Linked Note			1,918,600			—			1,918,600			—
Time Deposits			5,655,200			—			5,655,200			—
Money Market Fund			10,518,183			10,518,183			—			—
Total Investments, at value		$	629,811,005		$	439,426,016		$	190,384,989		$	—
Other Financial Instruments – Liabilities
Options Contracts Written		$	(9,630)		$	(9,630)		$	—		$	—
Total Other Financial Instruments – Liabilities		$	(9,630)		$	(9,630)		$	—		$	—
Destinations Core Fixed Income Fund
Investments, at value
Mortgage-Backed Securities		$	512,354,561		$	—		$	512,354,561		$	—
Corporate Bonds & Notes:
Basic Materials			13,589,862			—			13,589,862			—
Communications			49,277,415			—			49,277,415			—
Consumer Cyclical			40,389,431			—			40,389,431			—
Consumer Non-cyclical			50,213,321			—			50,213,321			—
Energy			57,298,151			—			57,298,151			—
Financial			201,378,453			—			201,378,453			—
Industrial			18,736,979			—			18,736,979			—
Technology			12,512,520			—			12,512,520			—
Utilities			60,848,081			—			60,848,081			—
Collateralized Mortgage Obligations			448,940,945			—			448,940,945			—
U.S. Government Obligations			439,627,624			—			439,627,624			—
Asset-Backed Securities			196,190,743			—			196,190,743			—
Senior Loans			15,490,395			—			15,490,395			—
Municipal Bonds			3,187,994			—			3,187,994			—
Sovereign Bonds			5,159,889			—			5,159,889			—
Open-End Fund			57,327,041			57,327,041			—			—
Common Stocks:
Telecommunications			22,660			22,660			—			—
Industrial			11,976			—			—			11,976

281

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Notes to Financial Statements

August 31, 2023 (unaudited) (continued)

3. Investment valuation (continued)

	Total Fair Value at August 31, 2023			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 (continued)
Investments, at value (continued)
Rights		$	1,204		$	—		$	1,204		$	—
Short-Term Investments:
Time Deposits			27,833,427			—			27,833,427			—
U.S. Government Obligation			884,402			—			884,402			—
Total Investments, at value		$	2,211,277,074		$	57,349,701		$	2,153,915,397		$	11,976
Other Financial Instruments – Assets
Futures Contracts		$	766,921		$	766,921		$	—		$	—
Centrally Cleared Interest Rate Swap			516,596			—			516,596			—
Centrally Cleared Credit Default Swaps			45,627			—			45,627			—
Total Other Financial Instruments – Assets		$	1,329,144		$	766,921		$	562,223		$	—
Other Financial Instruments – Liabilities
Futures Contracts		$	(988,360)		$	(988,360)		$	—		$	—
Centrally Cleared Interest Rate Swap			(42,984)			—			(42,984)			—
Forward Sale Commitments			(25,149,680)			—			(25,149,680)			—
Total Other Financial Instruments – Liabilities		$	(26,181,024)		$	(988,360)		$	(25,192,664)		$	—
Destinations Low Duration Fixed Income Fund
Investments, at value
Corporate Bonds & Notes:
Basic Materials		$	11,671,047		$	—		$	11,671,047		$	—
Communications			44,195,270			—			44,195,270			—
Consumer Cyclical			16,943,012			—			16,943,012			—
Consumer Non-cyclical			26,621,411			—			19,398,961			7,222,450
Diversified			2,621,105			—			2,621,105			—
Energy			13,012,317			—			13,012,317			—
Financial			21,372,267			—			21,372,267			—
Healthcare			5,466,400			—			—			5,466,400
Industrial			40,726,568			—			40,726,568			—
Technology			7,865,647			—			7,865,647			—
Utilities			2,034,911			—			2,034,911			—
Asset-Backed Securities			42,558,604			—			42,558,604			—
Senior Loans			38,359,364			—			35,376,337			2,983,027
Collateralized Mortgage Obligations			29,015,803			—			29,015,803			—
U.S. Government Agencies & Obligations			22,423,768			—			22,423,768			—
Mortgage-Backed Securities			1,911,834			—			1,911,834			—
Sovereign Bonds			678,250			—			678,250			—
Exchange Traded Fund (ETF)			42,638,051			42,638,051			—			—
Common Stocks			412,171			—			—			412,171
Warrants:
Basic Materials			—*			—			—			—*
Diversified			18,852			18,852			—			—*
Healthcare			1,928			1,928			—			—

282

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Notes to Financial Statements

August 31, 2023 (unaudited) (continued)

3. Investment valuation (continued)

	Total Fair Value at August 31, 2023			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 (continued)
Investments, at value (continued)
Short-Term Investments:
Commercial Papers		$	16,554,752		$	—		$	16,554,752		$	—
Corporate Note			996,806			—			—			996,806
Time Deposits			11,612,724			—			11,612,724			—
U.S. Government Obligations			9,124,486			—			9,124,486			—
Total Investments, at value		$	408,837,348		$	42,658,831		$	349,097,663		$	17,080,854
Other Financial Instruments – Assets
Forward Foreign Currency Contracts		$	379,890		$	—		$	379,890		$	—
Total Other Financial Instruments – Assets		$	379,890		$	—		$	379,890		$	—
Destinations Global Fixed Income Opportunities Fund
Investments, at value
Corporate Bonds & Notes
Australia		$	15,222,785		$	—		$	13,472,785		$	1,750,000
Austria			845,856			—			845,856			—
Bermuda			4,425,569			—			4,425,569			—
Brazil			8,863,183			—			8,863,183			—
British Virgin Islands			198,404			—			198,404			—
Canada			27,186,645			—			27,186,645			—
Cayman Islands			5,631,379			—			5,631,379			—
Chile			19,672,444			—			19,672,444			—
Colombia			18,119,533			—			18,119,533			—
Denmark			4,296,201			—			4,296,201			—
France			4,805,384			—			4,805,384			—
Germany			13,334,445			—			13,334,445			—
Guatemala			4,604,150			—			4,604,150			—
India			16,757,436			—			16,757,436			—
Indonesia			11,896,576			—			11,896,576			—
Israel			8,323,248			—			8,323,248			—
Italy			9,085,833			—			9,085,833			—
Jersey, Channel Islands			4,979,110			—			4,979,110			—
Luxembourg			25,908,492			—			25,908,492			—
Malaysia			7,479,531			—			7,479,531			—
Mauritius			4,355,267			—			4,355,267			—
Mexico			25,119,069			—			25,119,069			—
Multinational			5,273,794			—			5,273,794			—
Netherlands			30,344,422			—			30,344,422			—
Norway			6,132,374			—			6,132,374			—
Panama			2,993,610			—			2,993,610			—
Paraguay			1,425,339			—			1,425,339			—
Peru			30,154,489			—			30,154,489			—
Portugal			—*			—			—			—*
Singapore			30,331,267			—			30,331,267			—
South Korea			19,265,899			—			19,265,899			—

283

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Notes to Financial Statements

August 31, 2023 (unaudited) (continued)

3. Investment valuation (continued)

	Total Fair Value at August 31, 2023			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 (continued)
Investments, at value (continued)
Spain		$	6,198,853		$	—		$	6,198,853		$	—
Sweden			2,552,110			—			2,552,110			—
Switzerland			1,434,357			—			1,434,357			—
United Kingdom			22,000,181			—			22,000,181			—
United States			183,364,939			—			172,690,303			10,674,636
Senior Loans			59,773,007			—			59,134,606			638,401
Collateralized Mortgage Obligations			19,036,587			—			19,036,587			—
Exchange Traded Fund (ETF)			51,421,517			51,421,517			—			—
Sovereign Bonds			16,994,778			—			16,994,778			—
Preferred Stocks:
Bermuda			3,128,195			3,128,195			—			—
United Kingdom			27,311			27,311			—			—
United States			22,534,433			21,334,992			1,199,441			—
Common Stocks:
United States			10,046,145			5,981,495			—			4,064,650
Equity Linked Notes			145,580			—			—			145,580
Warrants:
Bermuda			—*			—			—			—*
Brazil			—*			—			—			—*
Canada			—*			—			—			—*
Israel			—*			—			—			—*
United Kingdom			2,185			2,185			—			—
United States			11,143			11,143			—			—
Purchased Option			2,845			2,845			—			—
Short-Term Investments:
Commercial Papers			46,617,879			—			46,617,879			—
Corporate Note			1,551,869			—			—			1,551,869
Time Deposits			23,654,315			—			23,654,315			—
Money Market Fund			843,675			843,675			—			—
Total Investments, at value		$	838,373,638		$	82,753,358		$	736,795,144		$	18,825,136
Other Financial Instruments – Asset
Forward Foreign Currency Contracts		$	529,232		$	—		$	529,232		$	—
Total Other Financial Instruments – Assets		$	529,232		$	—		$	529,232		$	—
Other Financial Instruments – Liabilities
Options Contracts Written		$	(185,781)		$	(185,781)		$	—		$	—
Forward Foreign Currency Contract			(2,824)			—			(2,824)			—
Short Sales:
Corporate Bonds & Notes			(2,297,208)			—			(2,297,208)			—
Total Other Financial Instruments – Liabilities		$	(2,485,813)		$	(185,781)		$	(2,300,032)		$	—
Destinations Municipal Fixed Income Fund
Investments, at value
Municipal Bonds		$	817,915,274		$	—		$	817,915,274		$	—

284

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Notes to Financial Statements

August 31, 2023 (unaudited) (continued)

3. Investment valuation (continued)

	Total Fair Value at August 31, 2023			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 (continued)
Investments, at value (continued)
Exchange Traded Fund (ETF)		$	30,594,672		$	30,594,672		$	—		$	—
Short-Term Investments:
Municipal Bond			1,760,928			—			1,760,928			—
Time Deposits			40,320,682			—			40,320,682			—
Total Investments, at value		$	890,591,556		$	30,594,672		$	859,996,884		$	—
Other Financial Instruments – Liabilities
Futures Contract		$	(19,078)		$	(19,078)		$	—		$	—
Total Other Financial Instruments – Liabilities		$	(19,078)		$	(19,078)		$	—		$	—
Destinations Multi Strategy Alternatives Fund
Investments, at value
Collateralized Mortgage Obligations		$	173,965,383		$	—		$	173,965,383		$	—
Asset-Backed Securities			126,215,191			—			126,215,191			—
Corporate Bonds & Notes			101,637,187			—			101,637,187			—
Senior Loan			9,387,975			—			9,387,975			—
Common Stocks:
Consumer Cyclical			18,596,165			18,596,165			—			—
Consumer Non-cyclical			50,228,119			50,228,119			—			—
Diversified			2,990,669			2,990,669			—			—*
Financial			17,094,743			17,094,743			—			—
Industrial			10,431,875			10,431,875			—			—
Technology			18,595,630			18,595,630			—			—
Open-End Funds			161,513,104			161,513,104			—			—
Equity Linked Note			3,065,153			3,065,153			—			—
Preferred Stock			7,206,834			7,206,834			—			—
Warrants			541,757			541,757			—			—
Short-Term Investments:
Time Deposits			90,351,800			—			90,351,800			—
Money Market Fund			100			100			—			—
Total Investments, at value		$	791,821,685		$	290,264,149		$	501,557,536		$	—
Other Financial Instruments – Assets
OTC Total Return Swaps		$	208,043		$	—		$	208,043		$	—
OTC Credit Default Swaps			9,649,464			—			9,649,464			—
Total Other Financial Instruments – Assets		$	9,857,507		$	—		$	9,857,507		$	—
Other Financial Instruments – Liabilities
OTC Total Return Swaps		$	(207,257)		$	—		$	(207,257)		$	—
Short Sales:
Exchange Traded Funds (ETFs)			(34,582,640)			(34,582,640)			—			—
Common Stock			(6,340,254)			(6,340,254)			—			—
Total Other Financial Instruments – Liabilities		$	(41,130,151)		$	(40,922,894)		$	(207,257)		$	—

285

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Notes to Financial Statements

August 31, 2023 (unaudited) (continued)

3. Investment valuation (continued)

	Total Fair Value at August 31, 2023			Unadjusted Quoted Prices in Active Markets for Identical Investments (Level 1)			Significant Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Destinations Shelter Fund
Investments, at value
Common Stocks		$	99,891,705		$	99,891,705		$	—		$	—
Purchased Option			654,810			654,810			—			—
Short-Term Investments:
Time Deposits			838,308			—			838,308			—
Total Investments, at value		$	101,384,823		$	100,546,515		$	838,308		$	—
Other Financial Instruments – Liabilities
Options Contracts Written		$	(288,413)		$	(288,413)		$	—		$	—
Total Other Financial Instruments – Liabilities		$	(288,413)		$	(288,413)		$	—		$	—

Includes securities that are fair valued at $0.

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, 2023 through August 31, 2023:

	Total			Common Stocks			Corporate Bonds & Notes			Preferred Stocks			Senior Loans			Warrants			Short Terms			Equity Linked Notes
Destinations Large Cap Equity Fund
Balance as of February 28, 2023		$	14,872,011		$	4,999,974		$	—		$	9,872,037		$	—		$	—		$	—		$	—
Purchases			573,140			573,140			—			—			—			—			—			—
(Sales/Paydowns)			(884,051)			(884,051)			—			—			—			—			—			—
Total realized gain (loss)			(790,842)			(790,842)			—			—			—			—			—			—
Change in unrealized appreciation (depreciation)			(1,891,023)			889,778			—			(2,780,801)			—			—			—			—
Transfers In			—			—			—			—			—			—			—			—
Transfers Out			—			—			—			—			—			—			—			—
Balance as of August 31, 2023		$	11,879,235		$	4,787,999		$	—		$	7,091,236		$	—		$	—		$	—		$	—
Change in unrealized appreciation (depreciation) from Investments held as of August 31, 2023		$	(2,631,651)		$	149,150		$	—		$	(2,780,801)		$	—		$	—		$	—		$	—
Destinations International Equity Fund
Balance as of February 28, 2023		$	727,361		$	709,703		$	—		$	17,658		$	—		$	—		$	—		$	—
Purchases			3,069,629			3,069,629			—			—			—			—			—			—
(Sales/Paydowns)			(4,874,278)			(4,874,278)			—			—			—			—			—			—
Total realized gain (loss)			(4,118,190)			(4,118,190)			—			—			—			—			—			—
Change in unrealized appreciation (depreciation)			6,638,968			6,622,493			—			16,475			—			—			—			—
Transfers In			—			—			—			—			—			—			—			—
Transfers Out			(922,789)			(888,656)			—			(34,133)			—			—			—			—
Balance as of August 31, 2023		$	520,701		$	520,701		$	—		$	—		$	—		$	—		$	—		$	—
Change in unrealized appreciation (depreciation) from Investments held as of August 31, 2023		$	1,472,918		$	1,456,442		$	—		$	16,475		$	—		$	—		$	—		$	—
Destinations Core Fixed Income Fund
Balance as of February 28, 2023		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Purchases			3,913			3,913			—			—			—			—			—			—
(Sales/Paydowns)			—			—			—			—			—			—			—			—
Total realized gain (loss)			—			—			—			—			—			—			—			—
Change in unrealized appreciation (depreciation)			8,063			8,063			—			—			—			—			—			—

286

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Notes to Financial Statements

August 31, 2023 (unaudited) (continued)

3. Investment valuation (continued)

	Total			Common Stocks			Corporate Bonds & Notes			Preferred Stocks			Senior Loans			Warrants			Short Terms			Equity Linked Notes
Destinations Core Fixed Income Fund (continued)
Transfers In			—			—			—			—			—			—			—			—
Transfers Out			—			—			—			—			—			—			—			—
Balance as of August 31, 2023		$	11,976		$	11,976		$	—		$	—		$	—		$	—		$	—		$	—
Change in unrealized appreciation (depreciation) from Investments held as of August 31, 2023		$	8,063		$	8,063		$	—		$	—		$	—		$	—		$	—		$	—
Destinations Low Duration Fixed Income Fund
Balance as of February 28, 2023		$	15,412,115		$	341,066		$	15,064,325		$	—		$	—		$	6,724		$	—		$	—
Purchases			841,806			—			—			—			—			—			841,806			—
(Sales/Paydowns)			(1,729,792)			—			(1,729,792)			—			—			—			—			—
Total realized gain (loss)			—			—			—			—			—			—			—			—
Change in unrealized appreciation (depreciation)			(426,302)			71,105			(645,683)			—			—			(6,724)			155,000			—
Transfers In			2,983,027			—			—			—			2,983,027			—			—			—
Transfers Out			—			—			—			—			—			—			—			—
Balance as of August 31, 2023		$	17,080,854		$	412,171		$	12,688,850		$	—		$	2,983,027		$	—*		$	996,806		$	—
Change in unrealized appreciation (depreciation) from Investments held as of August 31, 2023		$	(541,717)		$	134,754		$	(682,066)		$	—		$	—		$	—		$	5,595		$	—
Destinations Global Fixed Income Opportunities Fund
Balance as of February 28, 2023		$	15,902,865		$	3,762,920		$	9,271,370		$	—		$	2,682,508		$	33,674		$	—		$	152,393
Purchases			5,807,897			964,028			3,460,000			—						—			1,383,869			—
(Sales/Paydowns)			(2,209,549)			(147,444)			—			—			(2,044,106)			—			—			(17,999)
Total realized gain (loss)			67,905			47,813			—			—			2,093			—			—			17,999
Change in unrealized appreciation (depreciation)			(743,982)			(562,667)			(306,734)			—			(2,094)			(33,674)			168,000			(6,813)
Transfers In			—			—			—			—			—			—			—			—
Transfers Out			—			—			—			—			—			—			—			—
Balance as of August 31, 2023		$	18,825,136		$	4,064,650		$	12,424,636*		$	—		$	638,401		$	—*		$	1,551,869		$	145,580
Change in unrealized appreciation (depreciation) from Investments held as of August 31, 2023		$	(712,746)		$	(399,136)		$	(311,024)		$	—		$	(3,123)		$	—		$	7,350		$	(6,813)
Destinations Multi Strategy Alternatives Fund
Balance as of February 28, 2023		$	—*		$	—*		$	—		$	—		$	—		$	—		$	—		$	—
Purchases			—			—			—			—			—			—			—			—
(Sales/Paydowns)			—			—			—			—			—			—			—			—
Total realized gain (loss)			—			—			—			—			—			—			—			—
Change in unrealized appreciation (depreciation)			—			—			—			—			—			—			—			—
Transfers In			—			—			—			—			—			—			—			—
Transfers Out			—			—			—			—			—			—			—			—
Balance as of August 31, 2023		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Change in unrealized appreciation (depreciation) from Investments held as of August 31, 2023		$	—*		$	—*		$	—		$	—		$	—		$	—		$	—		$	—

Includes securities that are fair valued at $0.

4. Accounting for Derivative Instruments

Certain Funds use derivative instruments including futures, options, forward foreign currency contracts, swaptions and swap contracts as part of their investment strategies. All open derivative positions at period end for each Fund are disclosed in the Fund’s Schedule of Investments. The following is a description of these derivative instruments, including the primary underlying risk exposures related to each instrument type:

(a)

Futures Contracts. Certain Funds enter into futures contracts, to the extent permitted by their investment policies and objectives, for bonafide hedging and other permissible risk management purposes including protecting against anticipated changes in the value of securities a Fund intends to purchase. Upon entering into a futures contract, a Fund is required to deposit cash or securities as initial margin. Additional securities are also segregated as collateral

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4. Accounting for Derivative Instruments (continued)

up to the current market value of the futures contracts. Subsequent payments, known as variation margin, are made or received by the Fund, depending on the fluctuation in the value of the underlying financial instruments. The Fund recognizes an unrealized gain or loss equal to the variation margin. When futures contracts are closed, a realized gain or loss is recognized which is equal to the difference between the proceeds from (or cost of) the closing transactions and the Fund’s basis in the contracts.

The risks associated with entering into futures contracts include the possibility that a change in the value of the contract may not correlate with the changes in the value of the underlying instruments. In addition, investing in futures contracts involves the risk that the Fund could lose more than the original margin deposit due to subsequent payments that may be required for a futures transaction.

(b)

Options Written. Certain Funds write options to manage exposure to certain changes in the market. When a Fund writes an option, an amount equal to the premium received by the Fund is recorded as a liability, the value of which is marked-to-market daily to reflect the current market value of the option written. If the option expires, the Fund realizes a gain from investments equal to the amount of the premium received. When a written call option is exercised, the premium received is added to the proceeds from the sale of the underlying security in determining whether the Fund has a realized gain or loss. When a written put option is exercised, the amount of the premium received reduces the cost of the security purchased by the Fund.

When writing a covered call option, a Fund may forego the opportunity of profit if the market price of the underlying security increases more than the premium received and the option is exercised. When writing a put option, a Fund may incur a loss if the market price of the underlying security decreases more than the premium received and the option is exercised. In addition, there is the risk that the Fund may not be able to enter into a closing transaction because of an illiquid secondary market.

(c)

Purchased Options. Certain Funds purchase options to manage exposure to certain changes in the market. A Fund will normally purchase call options in anticipation of an increase in the market value of securities of the type in which they may invest, an amount equal to the value is recorded as an asset. The purchase of a call option will entitle a Fund, in return for the premium paid, to purchase specified securities at a specified price during the option period. A Fund will ordinarily realize a gain if, during the option period, the value of such securities exceeded the sum of the exercise price, the premium paid and transaction costs; otherwise, the Fund will realize a loss equal to the amount of the premium paid on the purchase of the call option.

A Fund will normally purchase put options in anticipation of a decline in the market value of securities in its portfolio (“protective puts”) or in securities in which it may invest. The purchase of a put option will entitle the Fund, in exchange for the premium paid, to sell specified securities at a specified price during the option period. The purchase of protective puts is designed to offset or hedge against a decline in the market value of the Fund’s securities. Put options may also be purchased by a Fund for the purpose of affirmatively benefiting from a decline in the price of securities which it does not own.

The Fund will ordinarily realize a gain if, during the option period, the value of the underlying securities decreased below the exercise price sufficiently to more than cover the premium and transaction costs; otherwise the Fund will realize a loss equal to the amount of the premium paid on the purchase of the put option. Gains and losses on the purchase of protective put options would tend to be offset by countervailing changes in the value of the underlying portfolio securities.

(d)

Forward Foreign Currency Contracts. Certain Funds enter into forward foreign currency contracts to hedge against foreign currency exchange rate risk on their non-U.S. dollar denominated securities or to facilitate settlement of foreign currency denominated portfolio transactions. A forward foreign currency contract is an agreement between two parties to buy and sell a currency at a set price on a future date. The contract is marked-to-market daily and the change in value is recorded by a Fund as an unrealized gain or loss. When a forward foreign currency contract is extinguished, through either delivery or offset by entering into another forward foreign currency contract, the Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value of the contract at the time it was extinguished.

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4. Accounting for Derivative Instruments (continued)

Forward foreign currency contracts involve elements of market risk in excess of the amounts reflected in the Statements of Assets and Liabilities. The Fund bears the risk of an unfavorable change in the foreign exchange rate underlying the forward foreign currency contract. Risks may also arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of their contracts.

(e)

Swaptions. Swaptions contracts entered into by the Funds typically represent an option that gives the purchaser the right, but not the obligation, to enter into a swap contract on a future date. Certain Funds may purchase swaptions to manage exposure to fluctuations in interest rates and to enhance portfolio yield. Changes in the value of purchased swaptions are reported as net change in unrealized appreciation or depreciation on the Statements of Operations and Changes in Net Assets Gain or loss is recognized when the swaptions contract expires or is closed as net realized gain or loss on the Statements of Operations and changes in Net Assets. Details of purchased swaptions contracts held at period end are included on the Fund’s Schedule of Investments under the caption “Purchased Options”.

Certain Funds may write swaption contracts to manage exposure to fluctuations in interest rates and to enhance portfolio yield. Swaption contracts written by a Fund represent an option that obligates the writer upon exercise by the purchaser, to enter into a previously agreed upon swap contract on a future date. If a written call swaption is exercised, the writer will enter into a swap and is obligated to pay the fixed rate and receive a floating rate in exchange. If a written put swaption is exercised, the writer will enter a swap and is obligated to pay the floating rate and receive a fixed rate in exchange.

When a Fund writes a swaption, the premium received is recorded as a liability in the Statements of Assets and Liabilities and is subsequently adjusted to the current market value of the swaption. Changes in the value of the swaption are reported as unrealized gains or losses in the Statements of Operations. A gain or loss is recognized when the swaption contract expires or is closed. Premiums received from writing swaptions that expire or are exercised are treated by the Fund as realized gains from investments. The difference between the premium and the amount paid on effecting a closing purchase transaction is also treated as a realized gain or, if the premium received is less than the amount paid for the closing purchase, as a realized loss.

Entering into a swaption contract involves, to varying degrees, the elements of credit, market and interest rate risk, associated with both option contracts and swap contracts. To reduce credit risk from potential counterparty default, a Fund only enters into swaption contracts with counterparties that meet certain standards of creditworthiness. A Fund bears the market risk arising from any change in index values or interest rates.

(f)

Swap Contracts. Swaps involve the exchange by a Fund with another party of the respective amounts payable with respect to a notional principal amount related to one or more indices. Certain Funds may enter into these transactions to preserve a return or spread on a particular investment or portion of its assets, as a duration management technique or to protect against any increase in the price of securities the Fund anticipates purchasing at a later date. Certain Funds may also use these transactions for speculative purposes, such as to obtain the price performance of a security without actually purchasing the security in circumstances where, for example, the subject security is illiquid, is unavailable for direct investment or available only on less attractive terms.

Swaps are marked-to-market daily based upon quotations from market makers and the change, if any, is recorded as change in unrealized appreciation or depreciation in the Statements of Operations. Net receipts or payments of interest are recorded as realized gains or losses, respectively. Gains and losses are realized upon termination of a swap contract. An upfront payment received by the Fund is recorded as a liability on the Fund’s books. An upfront payment made by the Fund is recorded as an asset on the Fund’s books. Any upfront payments paid or received upon entering a swap contract to compensate for differences between stated terms of the agreement and prevailing market conditions (e.g. credit spreads, interest rates or other factors) are recorded as a realized gain or loss at the termination of the swap. Swaps have risks associated with them, including possible default by the counterparty to the transaction, illiquidity and, where swaps are used as hedges, the risk that the use of a swap could result in losses greater than if the swap had not been employed. This risk is mitigated by the posting of collateral by the counterparty to the Fund to cover the Fund’s exposure to the counterparty.

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4. Accounting for Derivative Instruments (continued)

Credit Default Swaps. Certain Funds enter into credit default swap contracts for investment purposes, to manage their credit risk or to add leverage. As a seller in a credit default swap contract, a Fund is required to pay the notional or other agreed-upon value to the counterparty in the event of a default by a third party, such as a U.S. or foreign corporate issuer, on the referenced debt obligation. In return, the Fund receives from the counterparty a periodic stream of payments over the term of the contract provided that no event of default has occurred. If no default occurs, the Fund keeps the stream of payments and has no payment obligations. Such periodic payments are accrued daily and accounted for as realized gains.

Certain Funds also purchase credit default swap contracts in order to hedge against the risk of default by debt securities held in their portfolios. In these cases a Fund functions as the counterparty referenced in the preceding paragraph. As a purchaser of a credit default swap contract, the Fund receives the notional or other agreed upon value from the counterparty in the event of a default by a third party, such as a U.S. or foreign corporate issuer, on the referenced debt obligation. In return, the Fund makes periodic payments to the counterparty over the term of the contract provided no event of default has occurred. Such periodic payments are accrued daily and accounted for as realized losses.

For a credit default swap sold by a Fund, payment of the agreed upon amount made by the Fund in the event of default of the referenced debt obligation is recorded as the cost of the referenced debt obligation received. For a credit default swap purchased by a Fund, the agreed upon amount received by the Fund in the event of default of the referenced debt obligation is recorded as proceeds from sale/delivery of the referenced debt obligation and the resulting gain or loss realized on the referenced debt obligation is recorded as such by the Fund.

Entering into credit default swaps involves, to varying degrees, elements of credit and market risk in excess of the related amounts recognized on the Statements of Assets and Liabilities. Such risks involve the possibility that there will be no liquid market for these agreements, that the counterparty to the agreements may default on its obligation to perform or disagree as to the meaning of the contractual terms in the agreements, and that there will be unfavorable changes in net interest rates. As privately negotiated transactions, swaps may involve risk, which is the risk that the swap contracts fail to contemplate a particular outcome or that the parties disagree about the proper interpretation of a transaction term.

ii.

Interest Rate Swaps. Certain Funds enter into interest rate swaps for investment purposes to manage exposure to fluctuations in interest rates or to add leverage. Interest rate swaps represent an agreement between two counterparties to exchange cash flows based on the difference in the fixed interest rate and the floating interest rate, applied to the notional principal amount for a specified period. The payment flows are usually netted against each other, with the difference being paid by one party to the other. Once the payments are settled in cash, the net amount is recorded as realized gain or loss from swap contracts on the Statements of Operations. The Funds settle accrued net receivable or payable under the swap contracts on a periodic basis.

The primary risk associated with interest rate swaps is that unfavorable changes in interest rates could adversely impact a Fund.

iii.

Cross-Currency Swaps. Certain Funds enter into cross-currency swaps to gain or mitigate exposure to currency risk. Cross-currency swaps involve two parties exchanging two different currencies with an agreement to reverse the exchange at a later date at specific exchange rates. The exchange of currencies at the inception date of the contract takes place at the current spot rate. The re-exchange at maturity may take place at the same exchange rate, a specified rate, or the then current spot rate. Interest payments, if applicable, are made between the parties based on interest rates available in the two currencies at the inception of the contract. The terms of cross-currency swap contracts may extend for many years. Cross-currency swaps are usually negotiated with commercial and investment banks. Some cross-currency swaps may not provide for exchanging principal cash flows, but only for exchanging interest cash flows.

iv.

Total Return Swaps. Certain Funds enter into total return swaps to gain exposure and benefit from reference asset (single asset, or a basket of assets) without actually having to own it. Total return swaps are agreements

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4. Accounting for Derivative Instruments (continued)

where the total return of a reference asset is paid in exchange for periodic cash flows, either fixed or variable, and typically a floating rate such as LIBOR +/- a basis point spread. The deal is structured such that the total return (asset income plus capital appreciation/depreciation) is exchanged, in the cash flows. Periodic payments received or made by the Fund are recorded as realized gain or loss from swap contracts on the Statement of Operations.

Variance Swaps. Certain Funds enter into variance swaps to hedge equity market risk or adjust exposure to the equity markets. Variance swaps are contracts in which two parties agree to exchange cash payments based on the difference between the stated level of variance and the actual variance realized on underlying asset(s) or index(es). Actual “variance” as used here is defined as the sum of the square of the returns on the reference asset(s) or index(es) (which in effect is a measure of its “volatility”) over the length of the contract term. So the parties to a variance swap can be said to exchange actual volatility for a contractually stated rate of volatility.

The following is a summary of the fair valuations of the Funds’ derivative instruments categorized by risk exposure at August 31, 2023:

Destinations Large Cap Equity Fund

Fair Values of Derivative Instruments on the Statements of Assets and Liabilities as of August 31, 2023

Location	Interest rate risk			Foreign exchange risk			Credit risk			Equity risk			Total
Asset derivatives
Unrealized appreciation on open futures contracts(a)		$	—		$	—		$	—		$	124,546		$	124,546
		$	—		$	—		$	—		$	124,546		$	124,546

Effect of Derivative Instruments on the Statements of Operations of August 31, 2023

Location	Interest rate risk			Foreign exchange risk			Credit risk			Equity risk			Total
Realized gain/(loss) on derivatives recognized in income(b)
Net realized gain (loss) on futures contracts		$	—		$	—		$	—		$	245,676		$	245,676
		$	—		$	—		$	—		$	245,676		$	245,676
Change in unrealized appreciation (depreciation) on derivatives recognized in income(c)
Net change in unrealized appreciation (depreciation) on futures contracts		$	—		$	—		$	—		$	102,351		$	102,351
		$	—		$	—		$	—		$	102,351		$	102,351

Destinations International Equity Fund

Fair Values of Derivative Instruments on the Statements of Assets and Liabilities as of August 31, 2023

Location	Interest rate risk			Foreign exchange risk			Credit risk			Equity risk			Total
Liability derivatives
Options contracts written outstanding(d)		$	—		$	—		$	—		$	6,236		$	6,236
		$	—		$	—		$	—		$	6,236		$	6,236

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Notes to Financial Statements

August 31, 2023 (unaudited) (continued)

4. Accounting for Derivative Instruments (continued)

Effect of Derivative Instruments on the Statements of Operations of August 31, 2023

Location	Interest rate risk			Foreign exchange risk			Credit risk			Equity risk			Total
Realized gain/(loss) on derivatives recognized in income(b)
Net realized gain (loss) on options contracts written		$	—		$	—		$	—		$	33,481		$	33,481
Net realized gain (loss) on swap contracts			—			—			122,002			—			122,002
		$	—		$	—		$	122,002		$	33,481		$	155,483
Change in unrealized appreciation (depreciation) on derivatives recognized in income(c)
Net change in unrealized appreciation (depreciation) on options contracts written		$	—		$	—		$	—		$	20,045		$	20,045
		$	—		$	—		$	—		$	20,045		$	20,045

Destinations Equity Income Fund

Fair Values of Derivative Instruments on the Statements of Assets and Liabilities as of August 31, 2023

Location	Interest rate risk			Foreign exchange risk			Credit risk			Equity risk			Total
Liability derivatives
Options contracts written outstanding(d)		$	—		$	—		$	—		$	9,630		$	9,630
		$	—		$	—		$	—		$	9,630		$	9,630

Effect of Derivative Instruments on the Statements of Operations of August 31, 2023

Location	Interest rate risk			Foreign exchange risk			Credit risk			Equity risk			Total
Realized gain/(loss) on derivatives recognized in income(b)
Net realized gain (loss) on options contracts written		$	—		$	—		$	—		$	141,183		$	141,183
		$	—		$	—		$	—		$	141,183		$	141,183
Change in unrealized appreciation (depreciation) on derivatives recognized in income(c)
Net change in unrealized appreciation (depreciation) on options contracts written		$	—		$	—		$	—		$	(1,559)		$	(1,559)
		$	—		$			$	—		$	(1,559)		$	(1,559)

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Notes to Financial Statements

August 31, 2023 (unaudited) (continued)

4. Accounting for Derivative Instruments (continued)

Destinations Core Fixed Income Fund

Fair Values of Derivative Instruments on the Statements of Assets and Liabilities as of August 31, 2023

Location	Interest rate risk			Foreign exchange risk			Credit risk			Equity risk			Total
Asset derivatives
Unrealized appreciation on open futures contracts(a)		$	766,921		$	—		$	—		$	—		$	766,921
Unrealized appreciation on swap contracts(e)			516,596			—			45,627			—			562,223
		$	1,283,517		$	—		$	45,627		$	—		$	1,329,144
Liability derivatives
Unrealized depreciation on open futures contracts(a)		$	988,360		$	—		$	—		$	—		$	988,360
Unrealized depreciation on swap contracts(e)			42,984			—			—			—			42,984
		$	1,031,344		$	—		$	—		$	—		$	1,031,344

Effect of Derivative Instruments on the Statements of Operations as of August 31, 2023

Location	Interest rate risk			Foreign exchange risk			Credit risk			Equity risk			Total
Realized gain/(loss) on derivatives recognized in income(b)
Net realized gain (loss) on swap contracts		$	(43,028)		$	—		$	14,727		$	—		$	(28,301)
Net realized gain (loss) on futures contracts			959,276			—			—			—			959,276
		$	916,248		$	—		$	14,727		$	—		$	930,975

Location	Interest rate risk			Foreign exchange risk			Credit risk			Equity risk			Total
Change in unrealized appreciation (depreciation) on derivatives recognized in income(c)
Net change in unrealized appreciation (depreciation) on futures contracts		$	(329,096)		$	—		$	—		$	—		$	(329,096)
Net change in unrealized appreciation (depreciation) on swap contracts			110,838			—			47,643			—			158,481
		$	(218,258)		$	—		$	47,643		$	—		$	(170,615)

Destinations Low Duration Fixed Income Fund

Fair Values of Derivative Instruments on the Statements of Assets and Liabilities as of August 31, 2023

Location	Interest rate risk			Foreign exchange risk			Credit risk			Equity risk			Total
Asset derivatives
Unrealized appreciation on forward foreign currency contracts(f)		$	—		$	379,890		$	—		$	—		$	379,890
		$	—		$	379,890		$	—		$	—		$	379,890

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Notes to Financial Statements

August 31, 2023 (unaudited) (continued)

4. Accounting for Derivative Instruments (continued)

Effect of Derivative Instruments on the Statements of Operations as of February August 31, 2023

Location	Interest rate risk			Foreign exchange risk			Credit risk			Equity risk			Total
Realized gain/(loss) on derivatives recognized in income(b)
Net realized gain (loss) on forward foreign currency contracts		$	—		$	(1,432,785)		$	—		$	—		$	(1,432,785)
		$	—		$	(1,432,785)		$	—		$	—		$	(1,432,785)
Change in unrealized appreciation (depreciation) on derivatives recognized in income(c)
Net change in unrealized appreciation (depreciation) on forward foreign currency contracts		$	—		$	(193,318)		$	—		$	—		$	(193,318)
		$	—		$	(193,318)		$	—		$	—		$	(193,318)

Destinations Global Fixed Income Opportunities Fund

Fair Values of Derivative Instruments on the Statements of Assets and Liabilities as of August 31, 2023

Location	Interest rate risk			Foreign exchange risk			Credit risk			Equity risk			Total
Asset derivatives
Purchased option contracts(h)		$	—		$	—		$	—		$	2,845		$	2,845
Unrealized appreciation on forward foreign currency contracts(f)			—			529,232			—			—			529,232
		$	—		$	529,232		$	—		$	2,845		$	532,077
Liability derivatives
Options contracts written outstanding(d)		$	—		$	—		$	—		$	185,781		$	185,781
Unrealized depreciation on forward foreign currency contracts(g)			—			2,824			—			—			2,824
		$	—		$	2,824		$	—		$	185,781		$	188,605

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Notes to Financial Statements

August 31, 2023 (unaudited) (continued)

4. Accounting for Derivative Instruments (continued)

Effect of Derivative Instruments on the Statements of Operations of August 31, 2023

Location	Interest rate risk			Foreign exchange risk			Credit risk			Equity risk			Total
Realized gain/(loss) on derivatives recognized in income(b)
Net realized gain (loss) on options contracts written		$	—		$	—		$	—		$	454,235		$	454,235
Net realized gain (loss) on forward foreign currency contracts			—			(1,454,266)			—			—			(1,454,266)
		$	—		$	(1,454,266)		$	—		$	454,235		$	(1,000,031)
Change in unrealized appreciation (depreciation) on derivatives recognized in income(c)
Net change in unrealized appreciation (depreciation) on options contracts written		$	—		$	—		$	—		$	(172,843)		$	(172,843)
Net change in unrealized appreciation (depreciation) on purchased option contracts			—			—			—			(25,058)			(25,058)
Net change in unrealized appreciation (depreciation) on forward foreign currency contracts			—			106,838			—			—			106,838
		$	—		$	106,838		$	—		$	(197,901)		$	(91,063)

Destinations Municipal Fixed Income Fund

Fair Values of Derivative Instruments on the Statements of Assets and Liabilities as of August 31, 2023

Location	Interest rate risk			Foreign exchange risk			Credit risk			Equity risk			Total
Liability derivatives
Unrealized depreciation on open futures contracts(a)		$	19,078		$	—		$	—		$	—		$	19,078
		$	19,078		$	—		$	—		$	—		$	19,078

Effect of Derivative Instruments on the Statements of Operations of August 31, 2023

Location	Interest rate risk			Foreign exchange risk			Credit risk			Equity risk			Total
Realized gain/(loss) on derivatives recognized in income(b)
Net realized gain (loss) on futures contracts		$	72,699		$	—		$	—		$	—		$	72,699
		$	72,699		$	—		$	—		$	—		$	72,699
Change in unrealized appreciation (depreciation) on derivatives recognized in income(c)
Net change in unrealized appreciation (depreciation) on futures contracts		$	(19,078)		$	—		$	—		$	—		$	(19,078)
		$	(19,078)		$	—		$	—		$	—		$	(19,078)

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4. Accounting for Derivative Instruments (continued)

Destinations Multi Strategy Alternatives Fund

Fair Values of Derivative Instruments on the Statements of Assets and Liabilities as of August 31, 2023

Location	Interest rate risk			Foreign exchange risk			Credit risk			Equity risk			Total
Asset derivatives
Unrealized appreciation on swap contracts(i)		$	—		$	—		$	9,649,464		$	208,043		$	9,857,507
		$	—		$	—		$	9,649,464		$	208,043		$	9,857,507
Liability derivatives
Unrealized depreciation on swap contracts(j)		$	—		$	—		$	—		$	207,257		$	207,257
		$	—		$	—		$	—		$	207,257		$	207,257

Effect of Derivative Instruments on the Statements of Operations as of August 31, 2023

Location	Interest rate risk			Foreign exchange risk			Credit risk			Equity risk			Total
Realized gain/(loss) on derivatives recognized in income(b)
Net realized gain (loss) on swap contracts		$	—		$	—		$	2,044,729		$	296,222		$	2,340,951
Net realized gain (loss) on option contracts purchased			—			—			—			(123,005)			(123,005)
		$	—		$	—		$	2,044,729		$	173,217		$	2,217,946
Change in unrealized appreciation (depreciation) on derivatives recognized in income(c)
Net change in unrealized appreciation (depreciation) on swap contracts		$	—		$	—		$	5,001,392		$	(282,591)		$	4,718,801
		$	—		$	—		$	5,001,392		$	(282,591)		$	4,718,801

Destinations Shelter Fund

Fair Values of Derivative Instruments on the Statements of Assets and Liabilities as of August 31, 2023

Location	Interest rate risk			Foreign exchange risk			Credit risk			Equity risk			Total
Asset derivatives
Purchased option contracts(h)		$	—		$	—		$	—		$	654,810		$	654,810
		$	—		$	—		$	—		$	654,810		$	654,810
Liability derivatives
Options contracts written outstanding(d)		$	—		$	—		$	—		$	288,413		$	288,413
		$	—		$	—		$	—		$	288,413		$	288,413

Effect of Derivative Instruments on the Statements of Operations as of August 31, 2023

Location	Interest rate risk			Foreign exchange risk			Credit risk			Equity risk			Total
Realized gain/(loss) on derivatives recognized in income(b)
Net realized gain (loss) on purchased options		$	—		$	—		$	—		$	(3,416,040)		$	(3,416,040)
Net realized gain (loss) on options contracts written			—			—			—			(298,724)			(298,724)
		$	—		$	—		$	—		$	(3,714,764)		$	(3,714,764)

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4. Accounting for Derivative Instruments (continued)

Location	Interest rate risk			Foreign exchange risk			Credit risk			Equity risk			Total
Change in unrealized appreciation (depreciation) on derivatives recognized in income(c)
Net change in unrealized appreciation (depreciation) on purchased option contracts		$	—		$	—		$	—		$	240,369		$	240,369
Net change in unrealized appreciation (depreciation) on options contracts written			—			—			—			(135,290)			(135,290)
		$	—		$	—		$	—		$	105,079		$	105,079

(a)

Only variation margin, if any, is reported within the Statements of Assets and Liabilities. Cumulative appreciation (depreciation) on futures contracts is reported in the “Open Futures Contracts” table.

(b)

Statements of Operations location: Net realized gain (loss) from investments, foreign currency transactions, futures contracts, options contracts written, swaptions contracts written and swap contracts.

(c)

Statements of Operations location: Change in net unrealized appreciation (depreciation) from investments, foreign currency transactions, futures contracts, options contracts written, swaptions contracts written and swap contracts.

(d)

Statements of Assets and Liabilities location: Options contracts written, at value.

(e)

Statements of Assets and Liabilities location: Variation margin on open swap contracts.

(f)

Statements of Assets and Liabilities location: Unrealized appreciation on open forward foreign currency contracts.

(g)

Statements of Assets and Liabilities location: Unrealized depreciation on open forward foreign currency contracts.

(h)

Statements of Assets and Liabilities location: Investments, at value.

(i)

Statements of Assets and Liabilities location: Unrealized appreciation on swap contracts.

(j)

Statements of Assets and Liabilities location: Unrealized depreciation on swap contracts.

The average notional amounts of futures contracts, swaps contracts, forward foreign currency contracts, and the average market value of purchased options and options contracts written during the period ended August 31, 2023 were as follows:

Destinations Large Cap Equity Fund

			Average notional amounts
Futures contracts				$	3,218,789

Destinations International Equity Fund

	Average notional amounts
Option contracts written		$	13,485(a)
Swap contracts			37,369(b)

Destinations Equity Income Fund

			Average notional amounts
Option contracts written				$	26,490

Destinations Core Fixed Income Fund

	Average notional amounts
Futures contracts		$	207,828,184
Swap contracts			15,142,380

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4. Accounting for Derivative Instruments (continued)

Destinations Low Duration Fixed Income Fund

			Average notional amounts
Forward foreign currency contracts				$	38,690,598

Destinations Global Fixed Income Opportunities Fund

	Average notional amounts
Option contracts purchased		$	2,845(c)
Option contracts written			175,449
Forward foreign currency contracts			37,777,773

Destinations Municipal Fixed Income Fund

			Average notional amounts
Futures contracts				$	748,466(d)

Destinations Multi Strategy Alternatives Fund

			Average notional amounts
Swap contracts				$	159,268,688

Destinations Shelter Fund

	Average notional amounts
Option contracts purchased		$	552,644
Option contracts written			929,494

(a)

Positions were open for five months during the period.

(b)

Positions were open for two months during the period.

(c)

Positions were open for one month during the period.

(d)

Positions were open for four months during the period.

5. Accounting for Other Instruments

(a)

Stripped Securities. Certain Funds may invest in “Stripped Securities”, a term used collectively for stripped fixed income securities. Stripped Securities can be principal-only securities (“PO”), which are debt obligations that have been stripped of interest coupons, or interest-only securities (“IO”), which are interest coupons that have been stripped from debt obligations. As is the case with all securities, the market value of Stripped Securities will fluctuate in response to changes in economic conditions, interest rates and the market’s perception of the securities. However, fluctuations in response to interest rates may be greater in Stripped Securities than for debt obligations of comparable maturities that pay interest currently. The amount of fluctuation increases with a longer period of maturity. The yield-to-maturity on an IO is sensitive to the rate of principal repayments (including prepayments) on the related underlying debt obligation and principal payments may have a material effect on yield to maturity. If the underlying debt obligation experiences greater than anticipated prepayments of principal, the Fund may not fully recoup its initial investment in the IO.

(b)

Time Deposits. Certain Funds may purchase overnight time deposits issued by offshore branches of U.S. banks that meet credit and risk standards established by the custodian and approved by the Board.

(c)

Lending of Portfolio Securities. The Trust has an agreement with its custodian, whereby the custodian, as agent, may lend securities owned by the Funds to brokers, dealers and other financial organizations that have been approved as borrowers by the Funds. The custodian enters into agreements with the borrowers. Loans of securities

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5. Accounting for Other Instruments (continued)

by a Fund are collateralized by cash, U.S. government securities or irrevocable performance letters of credit issued by banks approved by the Funds. Cash collateral received by the Funds as a result of securities lending activities is invested in an unaffiliated registered money market fund, and is recorded as Payable for collateral received from securities on loan within the Statements of Assets and Liabilities. Securities lending income represents the income earned on investing cash collateral plus any premium payments that may be received on the loan of certain types of securities, less fees and expenses associated with the loan. Each Fund maintains the risk of any market loss on its securities on loan as well as the potential loss on investments purchased with cash collateral received from its securities lending. The custodian has the right under its agreement with the borrowers to recover any loaned securities from the borrower on demand. Additionally, the Funds are exposed to risks that a borrower may not provide additional collateral when required or return loaned securities when due. If the borrower fails to return the securities, the custodian will use the collateral to purchase replacement securities. The custodian is responsible for any shortfall in collateral value under certain circumstances. See Note 5(o).

The following table presents securities on loan that are subject to enforceable netting arrangements as of August 31, 2023.

Gross Amounts Not Offset in the Statements of Assets and Liabilities
	Gross Asset Amount Presented in Statements of Assets and Liabilities(a)			Financial Instrument			Collateral Received(b)(c)			Net Amount (Not Less than $0)
Destinations Small-Mid Cap Equity Fund		$	21,308,567		$	—		$	(21,308,567)		$	—
Destinations International Equity Fund			19,398,663			—			(19,398,663)			—
Destinations Equity Income Fund			9,937,135			—			(9,937,135)			—
Destinations Global Fixed Income Opportunities Fund			826,573			—			(826,573)			—
Destinations Multi Strategy Alternatives Fund			22			—			(22)			—

(a)

Represents market value of securities on loan at period end.

(b)

The Funds received cash collateral of $22,079,194, $20,632,983, $10,518,183, $843,675 and $100, respectively, which was subsequently invested in Federated Government Obligations Fund as reported in the Schedules of Investments.

(c)

The actual collateral received could be greater than the amount shown here due to overcollateralization.

The Funds have adopted the disclosure provisions of FASB Accounting Standards Update No. 2014-11 (“ASU No. 2014-11”), “Transfers & Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures”. ASU No. 2014-11 is intended to provide increased transparency about the types of collateral pledged in securities lending transactions and other similar transactions that are accounted for as secured borrowing.

The table below represents the disaggregation at August 31, 2023 of the gross amount of recognized liabilities for securities lending transactions. As the securities loaned are subject to termination by the Funds or the borrower at any time, the remaining contractual maturities of the transactions presented below are considered to be overnight and continuous.

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5. Accounting for Other Instruments (continued)

	Remaining Contractual Maturity of the Agreements As of August 31, 2023
	Overnight and Continuous			< 30 days			Between 30 & 90 days			> 90 days			Total
Destinations Small-Mid Cap Equity Fund
Securities Lending Transactions
Common Stocks		$	22,079,194		$	—		$	—		$	—		$	22,079,194
Total Borrowings		$	22,079,194		$	—		$	—		$	—		$	22,079,194
Gross amount of recognized liabilities for securities lending transactions														$	22,079,194
Destinations International Equity Fund
Securities Lending Transactions
Common Stocks		$	20,632,983		$	—		$	—		$	—		$	20,632,983
Total Borrowings		$	20,632,983		$	—		$	—		$	—		$	20,632,983
Gross amount of recognized liabilities for securities lending transactions														$	20,632,983
Destinations Equity Income Fund
Securities Lending Transactions
Common Stocks		$	10,518,183		$	—		$	—		$	—		$	10,518,183
Total Borrowings		$	10,518,183		$	—		$	—		$	—		$	10,518,183
Gross amount of recognized liabilities for securities lending transactions														$	10,518,183
Destinations Global Fixed Income Opportunities Fund
Securities Lending Transactions
Common Stocks		$	843,675		$	—		$	—		$	—		$	843,675
Total Borrowings		$	843,675		$	—		$	—		$	—		$	843,675
Gross amount of recognized liabilities for securities lending transactions														$	843,675
Destinations Multi Strategy Alternatives Fund
Securities Lending Transactions
Warrants		$	100		$	—		$	—		$	—		$	100
Total Borrowings		$	100		$	—		$	—		$	—		$	100
Gross amount of recognized liabilities for securities lending transactions														$	100

(d)

To-Be-Announced Purchase and Sale Commitments. Certain Funds may trade securities on a to-be-announced (“TBA”) basis. In a TBA transaction, a Fund commits to purchasing or selling securities which have not yet been issued by the issuer and for which specific information is not known, such as the face amount and maturity date and the underlying pool of investments in U.S. government agency mortgage pass-through transactions. Securities purchased on a TBA basis are not settled until they are delivered to the Fund, normally 15 to 45 days later. Beginning on the date the Fund enters into a TBA transaction, cash, U.S. government securities or other liquid high-grade debt obligations are segregated in an amount equal in value to the purchase price of the TBA security. These transactions are marked-to-market on a daily basis and are subject to market fluctuations. Realized gains or losses on TBA purchase commitments are included in “Net realized gain (loss) on investments” on the Statements of Operations. Any fluctuation in the value of the purchased TBA commitments is included in “Net change in unrealized appreciation (depreciation) on investments” on the Statements of Operations.

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5. Accounting for Other Instruments (continued)

Additionally, when a Fund sells TBA securities without already owning or having the right to obtain the deliverable securities (an uncovered forward commitment to sell), it incurs a risk of loss because it could have to purchase the securities at a price that is higher than the price at which it sold them. A Fund may be unable to purchase the deliverable securities if the corresponding market is illiquid.

TBA securities subject to a forward commitment to sell at period end are included at the end of the Fund’s Schedule of Investments under the caption “Schedule of Forward Sale Commitments”. The proceeds and value of these commitments are recorded as Forward Sale Commitments at value in the Statements of Assets and Liabilities.

(e)

Short Sales of Securities. A short sale is a transaction in which a Fund sells securities it does not own in anticipation of a decline in the market price of the securities. To complete a short sale, the Fund may arrange through a broker to borrow the securities to be delivered to the buyer. The proceeds received by the Fund for the short sale are retained by the broker until the Fund replaces the borrowed securities. In borrowing the securities to be delivered to the buyer, the Fund becomes obligated to replace the securities borrowed at their market price at the time of replacement, whatever that price may be.

The risk of engaging in short sale transactions is that selling short magnifies the potential for loss to a Fund. The larger the Fund’s short position, the greater the potential loss. If a security sold short increases in price, the Fund may have to cover its short position at a higher price than the short sale price, resulting in a loss. To borrow the security, the Fund also may be required to pay a premium, which could decrease the proceeds of the security sold short. The amount of any gain will be decreased, and the amount of any loss increased, by the amount of the premium, dividends, interest or expenses the Fund may be required to pay in connection with the short sale. In addition, because the Fund’s loss on a short sale arises from increases in the value of the security sold short, such loss is unlimited.

(f)

Mortgage Dollar Rolls. Certain Funds may sell mortgage-backed securities for delivery in the current month and simultaneously contract to repurchase substantially similar (same type, coupon and maturity) securities to settle on a specific future date at an agreed upon price. Pools of mortgage securities are used to collateralize mortgage dollar roll transactions and may have different prepayment histories than those sold. During the period between the sale and the repurchase, a Fund forgoes principal and interest paid on the securities sold. Proceeds of the sale will be invested in short-term instruments and the income from these investments, together with any additional fee income received on a sale, is intended to generate income for a Fund. A Fund accounts for mortgage dollar roll transactions as purchases and sales and realizes the gain or loss at the time the transaction is entered into on these transactions. If certain criteria are met, these dollar roll transactions may be considered financing transactions, whereby the difference in the sale price and the future purchase price is recorded as an adjustment to interest income.

Mortgage dollar roll transactions involve the risk that the market value of the securities a Fund is obligated to repurchase under the agreement may decline below the repurchase price of those securities. If investment performance of securities purchased with proceeds from these transactions does not exceed the income, capital appreciation and gain or loss that would have been realized on the securities sold as part of the dollar roll, the use of this technique will adversely impact the investment performance of a Fund. In the event the buyer of securities under a mortgage dollar roll files for bankruptcy or becomes insolvent, the Fund’s use of proceeds of the dollar roll may be restricted pending a determination by the other party, or its trustee or receiver, whether to enforce the Fund’s obligation to repurchase the securities.

(g)

Security Transactions and Investment Income. Security transactions are accounted for on a trade date basis. Interest income, adjusted for amortization of premium and accretion of discount, is recorded on an accrual basis. Dividend income is recorded on the ex-dividend date. Foreign dividend income is recorded on the ex-dividend date or as soon as practical after a Fund determines the existence of a dividend declaration after exercising reasonable due diligence. Withholding taxes on foreign dividends, if applicable, are paid (a portion of which may be reclaimable) or provided for in accordance with the applicable country’s tax rules and rates and are disclosed in the Statement of Operations. Withholding tax reclaims are filed in certain countries to recover a portion of the amounts previously withheld. The Fund records a reclaim receivable based on a number of factors, including a jurisdiction’s

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5. Accounting for Other Instruments (continued)

legal obligation to pay reclaims as well as payment history and market convention. The cost of investments sold is determined by use of the specific identification method. To the extent any issuer defaults on an expected interest payment, the Trust’s policy is to generally halt any additional “interest income accruals and accretion” and consider the Fund’s ability to realize interest accrued up to the date of default.

(h)

Foreign Investments. Dividends or other income (including, in some cases, capital gains) received by a Fund from investments in foreign securities may be subject to withholding and other taxes imposed by foreign countries. Foreign taxes paid by a Fund will reduce the return from the Fund’s investments. Tax conventions between certain countries and the U.S. may reduce or eliminate such taxes in some cases. If, as of the end of a Fund’s taxable year, more than 50% of the Fund’s assets consist of foreign securities, that Fund may elect to permit shareholders to claim a credit or deduction on their income tax returns for their pro rata portions of qualified taxes paid by that Fund during that taxable year to foreign countries in respect of foreign securities that the Fund has held for at least the minimum period specified in the IRC. In such a case, shareholders will include in gross income from foreign sources their pro rata shares of such taxes and must treat the amount so included as if the shareholder had paid the foreign tax directly. The shareholder may then either deduct the taxes deemed paid by him or her in computing his or her taxable income or, alternatively, use the foregoing information in calculating any foreign tax credit they may be entitled to use against the shareholders’ federal income tax. If a Fund makes the election, such Fund (or its administrative agent) will report annually to their shareholders the respective amounts per share of the Fund’s income from sources within, and taxes paid to, foreign countries and U.S. possessions. Shareholders of Funds that do not hold sufficient foreign securities to meet the above 50% threshold will not be entitled to claim a credit or further deduction with respect to foreign taxes paid by those Funds.

(i)

Foreign Currency Translation. Investment securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts based upon prevailing exchange rates on the date of valuation. Purchases and sales of investment securities and income and expense items denominated in foreign currencies are translated into U.S. dollar amounts based upon prevailing exchange rates on the respective dates of such transactions.

The Funds do not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the Statements of Operations.

Net realized foreign exchange gains or losses arise from sales of foreign currencies, including gains and losses on forward foreign currency contracts, currency gains or losses realized between the trade and settlement dates on securities transactions and the difference between the amounts of dividends, interest and foreign withholding taxes recorded on the Funds’ books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities, at the date of valuation, resulting from changes in exchange rates.

Foreign security and currency transactions may involve certain considerations and risks not typically associated with those of U.S. dollar denominated transactions as a result of, among other factors, the possibility of lower levels of governmental supervision and regulation of foreign securities markets and the possibility of political or economic instability.

(j)

Distributions to Shareholders. The Funds distribute their investment income periodically. It is the policy of the Destinations Equity Income, Destinations Multi Strategy Alternatives and Destinations Shelter Funds to distribute their investment income quarterly. It is the policy of the Destinations Large Cap Equity, Destinations Small-Mid Cap Equity and Destinations International Equity to distribute their investment income annually. It is the policy of the Destinations Core Fixed Income, Destinations Municipal Fixed Income, Destinations Global Fixed Income Opportunities and Destinations Low Duration Fixed Income Funds to distribute their investment income monthly. The Funds will make distributions of any undistributed capital gains earned annually. A Fund may make an additional payment of dividends or other distributions if it deems it to be desirable or necessary at other times during any year.

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5. Accounting for Other Instruments (continued)

(k)

All distributions will be paid in cash. Generally, distributions are taxable events for shareholders whether the distributions are received in cash or reinvested.

(l)

Taxes. The Trust’s policy is to comply with the requirements of the Internal Revenue Code, as amended, which are applicable to regulated investment companies, and to distribute all of its taxable income to its shareholders.

Additionally, the Trust may be subject to taxes imposed by the governments of countries in which it invests. Such taxes are generally based on income and/or capital gains earned or repatriated. Estimated tax liabilities on certain foreign securities are recorded on an accrual basis and are reflected as components of interest income or net change in unrealized gain/loss on investments. Tax liabilities realized as a result of security sales are reflected as a component of net realized gain/loss on investments.

The Trust has reviewed the tax positions for the open tax years as of August 31, 2023 and has determined that no provision for income tax and/or uncertain tax positions is required in the Trust’s financial statements. The Trust’s federal tax returns for the prior three fiscal years remain open subject to examinations by the Internal Revenue Service.

(m)

Reclassification. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or net asset values per share.

(n)

Restricted Securities. All Funds may invest in non-publicly traded securities, commonly called restricted securities. Restricted securities may be less liquid than publicly-traded securities. Although certain restricted securities may be resold in privately negotiated transactions, the values realized from these sales could be less than originally paid by a Fund. Certain restricted securities may be deemed liquid by the Manager and/or Sub-adviser pursuant to the procedures approved by the Board.

(o)

Indemnification. In the normal course of business, the Funds may enter into contracts that provide certain indemnifications. The Funds’ maximum exposure under these arrangements is dependent on future claims that may be made against the Funds and, therefore, cannot be estimated; however, based on experience, risk of loss from such claims is considered remote.

(p)

Senior Floating-Rate Loans. Certain Funds may purchase assignments of, and participations in, senior secured floating rate and fixed rate loans (“Senior Loans”) originated, negotiated and structured by a U.S. or foreign commercial bank, insurance company, finance company or other financial institution (the “Agent”) for a lending syndicate of financial institutions (the “Lender”). When purchasing an assignment, a Fund typically succeeds to all the rights and obligations under the loan of the assigning Lender and becomes a lender under the credit agreement with respect to the debt obligation purchased. Assignments may, however, be arranged through private negotiations between potential assignees and potential assignors, and the rights and obligations acquired by the purchaser of an assignment may differ from, and be more restricted than, those held by the assigning Lender. Participation typically results in a contractual relationship only with the institution participating out the interest, not with the borrower. In purchasing participations, a Fund generally will have no right to enforce compliance by the borrower with the terms of the loan agreement or any rights of setoff against the borrower, and the Fund may not directly benefit from the collateral supporting the debt obligation in which it has purchased the participation. As a result, the Fund will be exposed to the credit risk of both the borrower and the institution selling the participation.

In connection with bank loan interests, Funds may enter into unfunded bank loan interests (“commitments”). Unfunded loan commitments may be partially or wholly unfunded. The fund is obligated to fund these commitments at borrower’s discretion. In connection with these commitments, Funds earn a commitment fee, which is included in interest income in the Statement of Operations and recognized respectively over the commitment period. Funds have sufficient cash/securities to cover commitments.

As of August 31, 2023, the Funds had no wholly or partially unfunded loans positions.

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5. Accounting for Other Instruments (continued)

(q)

Disclosure about Offsetting Assets and Liabilities. In order to better define contractual rights under derivative contracts and to secure rights that will help the Funds mitigate their counterparty risk, a sub-adviser may, on behalf of the Funds, enter into an International Swaps and Derivatives Association, Inc. Master Agreement (“ISDA Master Agreement”) or similar agreement with its derivative contract counterparties. An ISDA Master Agreement is a bilateral agreement between the Funds and a counterparty that governs OTC derivatives and foreign exchange contracts and typically contains, among other things, collateral posting terms and netting provisions in the event of a default and/or termination event. The ISDA Master Agreement gives a Fund the right, upon an event of default by the applicable counterparty or a termination of the agreement, to close out all transactions traded under such agreement and to net amounts owed under each transaction to one net amount payable by one party to the other. Absent an event of default by the counterparty or a termination of the agreement, the ISDA Master Agreement does not result in an offset of reported amounts of assets and liabilities in the Statements of Assets and Liabilities across the transactions between the Funds and the applicable counterparty. The right to offset and net payments across all transactions traded under the ISDA Master Agreement could result in a reduction of the Funds’ credit risk to such counterparty equal to any amounts payable by the Funds under the applicable transactions, if any. The enforceability of the right to offset may vary by jurisdiction.

Cash collateral that has been received or pledged to cover obligations under derivative contracts, if any, will be reported separately in the Statements of Assets and Liabilities. Generally the amount of collateral due from or to a counterparty is subject to a minimum transfer threshold amount before a transfer is required, which may vary by counterparty. Collateral pledged for the benefit of a Fund and/or counterparty is held in segregated accounts by the Fund’s custodian and cannot be sold, re-pledged, assigned or otherwise used while pledged. The portion of such collateral representing cash, if any, is reflected as deposits with counterparties and, in the case of cash pledged by a counterparty for the benefit of a Fund, a corresponding liability in the Statements of Assets and Liabilities. Securities pledged by a Fund as collateral, if any, are identified as such in the Schedule of Investments. The carrying amount of such deposits due to brokers at August 31, 2023 approximated their fair value. If measured at fair value, such deposits would have been considered as Level 2 in the fair value hierarchy (see Note 3).

For financial reporting purposes, the Funds do not offset financial assets and financial liabilities that are subject to master netting arrangements or similar agreements on the Statements of Assets and Liabilities.

The following table presents the Funds’ gross and net amounts of assets and liabilities, by derivative type, available for offset under a master netting agreement, or similar agreement as of August 31, 2023.

	Assets			Liabilities
Derivative Instruments(a)	Gross Amounts of Recognized Assets Presented in the Statements of Assets and Liabilities			Gross Amounts of Recognized Liabilities Presented in the Statements of Assets and Liabilities
Destinations International Equity Fund:
Options contracts		$	—		$	6,236
Total Derivative Instruments, subject to master netting arrangement or similar arrangement		$	—		$	6,236
Destinations Equity Income Fund:
Options contracts		$	—		$	9,630
Total Derivative Instruments, subject to master netting arrangement or similar arrangement		$	—		$	9,630
Destinations Low Duration Fixed Income Fund
Forward foreign currency contracts		$	379,890		$	—
Total Derivative Instruments, subject to master netting arrangement or similar arrangement		$	379,890		$	—

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5. Accounting for Other Instruments (continued)

	Assets			Liabilities
Derivative Instruments(a)	Gross Amounts of Recognized Assets Presented in the Statements of Assets and Liabilities			Gross Amounts of Recognized Liabilities Presented in the Statements of Assets and Liabilities
Destinations Global Fixed Income Opportunities Fund:
Forward foreign currency contracts		$	529,232		$	2,824
Options contracts		$	2,845		$	185,781
Total Derivative Instruments, subject to master netting arrangement or similar arrangement		$	532,077		$	188,605
Destinations Multi Strategy Alternatives Fund:
Swap contracts		$	9,857,507		$	207,257
Total Derivative Instruments, subject to master netting arrangement or similar arrangement		$	9,857,507		$	207,257

The following table presents the Funds’ derivative assets and liabilities by counterparty net of amounts available for offset under master netting or similar agreements, and net of related collateral received or pledged as of August 31, 2023.

Counterparty	Gross amounts of Recognized Liabilities presented in the Statements of Assets and Liabilities			Financial Instruments Available for Offset(a)			Other Cash Collateral(e)			Net Amount(b)
Destinations International Equity Fund
Over-the-counter
Brown Brothers Harriman & Co.		$	6,044		$	—		$	—		$	6,044
Goldman Sachs & Co.			192									192
Total Over-the-counter derivative instruments		$	6,236		$	—		$	—		$	6,236

Counterparty	Gross amounts of Recognized Liabilities presented in the Statements of Assets and Liabilities			Financial Instruments Available for Offset(a)			Other Cash Collateral(e)			Net Amount(b)
Destinations Equity Income Fund
Over-the-counter
Citigroup Global Markets Inc.		$	9,630		$	—		$	—		$	9,630
Total Over-the-counter derivative instruments		$	9,630		$	—		$	—		$	9,630

Counterparty	Gross amounts of Recognized Assets and presented in the Statements of Assets and Liabilities			Financial Instruments Available for Offset(c)			Other Cash Collateral(e)			Net Amount(d)
Destinations Low Duration Fixed Income Fund
Over-the-counter
Brown Brothers Harriman & Co.		$	379,890		$	—		$	—		$	379,890
Total Over-the-counter derivative instruments		$	379,890		$	—		$	—		$	379,890

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5. Accounting for Other Instruments (continued)

Counterparty	Gross amounts of Recognized Assets presented in the Statements of Assets and Liabilities			Financial Instruments Available for Offset(c)			Other Cash Collateral(e)			Net Amount(d)
Destinations Global Fixed Income Opportunities Fund
Over-the-counter
Brown Brothers Harriman & Co.		$	529,232		$	(2,824)		$	—		$	526,408
Raymond James & Associates		$	2,845		$	(2,845)		$	—		$	—
Total Over-the-counter derivative instruments		$	532,077		$	(5,669)		$	—		$	526,408

Counterparty	Gross amounts of Recognized Liabilities presented in the Statements of Assets and Liabilities			Financial Instruments Available for Offset(c)			Other Cash Collateral(e)			Net Amount(d)
Destinations Global Fixed Income Opportunities Fund
Over-the-counter
Brown Brothers Harriman & Co.		$	2,824		$	(2,824)		$	—		$	—
Bank of America Corp.		$	2,516		$	—		$	—		$	2,516
Raymond James & Associates		$	183,265		$	(2,845)		$	—		$	180,420
Total Over-the-counter derivative instruments		$	188,605		$	(5,669)		$	—		$	182,936

Counterparty	Gross amounts of Recognized Assets presented in the Statements of Assets and Liabilities			Financial Instruments Available for Offset(c)			Other Cash Collateral(e)			Net Amount(d)
Destinations Multi Strategy Alternatives Fund:
Over-the-counter
Goldman Sachs & Co		$	5,165,866		$	(207,257)		$	—		$	4,958,609
Morgan Stanley Capital Services LLC		$	4,691,641		$	—		$	—		$	4,691,641
Total Over-the-counter derivative instruments		$	9,857,507		$	(207,257)		$	—		$	9,650,250

Counterparty	Gross amounts of Recognized Liabilities presented in the Statements of Assets and Liabilities			Financial Instruments Available for Offset(c)			Other Cash Collateral(e)			Net Amount(d)
Destinations Multi Strategy Alternatives Fund:
Over-the-counter
Goldman Sachs & Co		$	207,257		$	(207,257)		$	—		$	—
Total Over-the-counter derivative instruments		$	207,257		$	(207,257)		$	—		$	—

(a)

Represents the amount of assets that could be offset by liabilities with the same counterparty under master netting or similar agreements that are not offset on the Statements of Assets and Liabilities.

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August 31, 2023 (unaudited) (continued)

5. Accounting for Other Instruments (continued)

(b)

In some instances, the actual collateral received and/or pledged may be more than the amount shown here due to overcollateralization.

(c)

Net amount represents the net amount receivable from the counterparty in the event of default.

(d)

Represents the amount of liabilities that could be offset by assets with the same counterparty under master netting or similar agreements that are not offset on the Statements of Assets and Liabilities.

(e)

Net amount represents the net amount payable to the counterparty in the event of default.

6. Significant Risks and Uncertainties

(a)

Credit and Market Risk. Certain Funds invest in high yield instruments that are subject to certain credit and market risks. The yields of high yield obligations reflect, among other things, perceived credit and market risks. Each Fund’s investment in securities rated below investment grade typically involve risks not associated with higher rated securities, including, among others, greater risk related to timely and ultimate payment of interest and principal, greater market price volatility and less liquid secondary market trading.

(b)

Foreign Investment and Currency Risks. Certain Funds’ investments in foreign securities may involve risks not present in domestic investments. Because securities may be denominated in foreign currencies and may require settlement in foreign currencies and pay interest or dividends in foreign currencies, changes in the relationship of these foreign currencies to the U.S. dollar can significantly affect the value of the investments and earnings of a Fund. Foreign investments may also subject the Fund to foreign government exchange restrictions, expropriation, taxation or other political, social or economic developments, all of which affect the market and/or credit risk of the investments. Periodic U.S. Government restrictions on investments in issuers from certain foreign countries may result in a Fund having to sell such prohibited securities at inopportune times. Such prohibited securities may have less liquidity as a result of such U.S. Government designation and the market price of such prohibited securities may decline, which may cause the Fund to incur losses. In addition, the recent large-scale invasion of Ukraine by Russia and resulting responses, including economic sanctions by the U.S. and other countries against certain Russian individuals and companies could negatively impact the Funds’ performance and cause losses on your investment in the Funds.

(c)

Emerging Markets Risk. In addition to foreign investment and currency risks, which tend to be amplified in emerging markets, emerging markets may experience rising interest rates, or, more significantly, rapid inflation or hyperinflation. The economies of emerging market countries may grow at slower rates than expected or suffer a downturn or recession. Emerging market securities may present market, credit, liquidity, legal, political and other risks different from, or greater than, the risks of investing in developed foreign countries.

(d)

Volatility Risk. Volatility risk refers to the magnitude of the movement, but not the direction of the movement, in a financial instrument’s price over a defined time period. Large increases or decreases in a financial instrument’s price over a relative time period typically indicate greater volatility risk, while small increases or decreases in its price typically indicate lower volatility risk.

(e)

Global Health Event Risks. Consumer, corporate and financial confidence may be adversely affected by current or future tensions around the world, fear of terrorist activity and/or military conflicts, localized or global financial crises or other sources of political, social or economic unrest. Such erosion of confidence may lead to or extend a localized or global economic downturn. Furthermore, such confidence may be adversely affected by local, regional or global health crises, including, but not limited to, the rapid and pandemic spread of novel viruses commonly known as SARS, MERS, and COVID-19. Such health crises could exacerbate political, social, and economic risks previously mentioned, and result in significant breakdowns, delays, shutdowns, social isolation, and other disruptions to important global, local and regional supply chains affected, with potential corresponding results on the operating performance of the Fund and its investments. A climate of uncertainty and panic, including the contagion of infectious viruses or diseases, may adversely affect global, regional, and local economies and reduce the availability of potential investment opportunities, and increases the difficulty of performing due diligence and modeling market conditions, potentially reducing the accuracy of financial projections.

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August 31, 2023 (unaudited) (continued)

6. Significant Risks and Uncertainties (continued)

(f)

LIBOR Replacement. On July 27, 2017, the U.K. Financial Conduct Authority announced that it intends to stop compelling or inducing banks to submit London Inter-Bank Offered Rate (LIBOR) rates after 2021. The publication of LIBOR on a representative basis ceased for the one-week and two-month U.S. dollar LIBOR settings immediately after December 31, 2021, and is expected to cease for the remaining U.S. dollar LIBOR settings immediately after June 30, 2023. The elimination of LIBOR may adversely affect the interest rates on, and value of, certain Fund investments for which the value is tied to LIBOR. Actions by regulators have resulted in the establishment of alternative reference rates to LIBOR in most major currencies. Accordingly, it is difficult to predict the full impact of the transition away from LIBOR on the Funds until new reference rates and fallbacks for both legacy and new products, instruments and contracts are commercially accepted.

7. Investment Management Agreement

Orion Portfolio Solutions, LLC d.b.a. Brinker Capital Investments (“Brinker Capital”) serves as investment adviser to the Trust pursuant to an investment advisory agreement (“Advisory Agreement”) between the Trust and Brinker Capital. Each Sub-adviser serves as investment adviser to a Fund pursuant to separate written agreements with the Adviser on behalf of the Funds (“Sub-advisory Agreements”). Under the Advisory Agreement, each Fund pays Brinker Capital an investment advisory fee calculated daily at an annual rate based on each Fund’s average daily net assets and paid monthly in arrears. Brinker Capital pays each Sub-adviser a sub-advisory fee from its investment advisory fees.

The maximum allowable annual management fee represents the total amount that could be charged to each Fund. The aggregate subadvisory fee expected to be paid by Brinker Capital to the Sub-advisers and the maximum fee expected to be retained by Brinker Capital for the Trust’s current fiscal year are indicated below:

Fund	Sub-advisory Fee		Brinker Capital Fee		Maximum Allowable Annual Management Fee
Destinations Large Cap Equity Fund		0.22%		0.39%		0.75%
Destinations Small-Mid Cap Equity Fund		0.51%		0.39%		0.90%
Destinations International Equity Fund		0.38%		0.39%		1.00%
Destinations Equity Income Fund		0.31%		0.39%		0.80%
Destinations Core Fixed Income Fund		0.18%		0.39%		0.65%
Destinations Low Duration Fixed Income Fund		0.27%		0.39%		0.70%
Destinations Global Fixed Income Opportunities Fund		0.33%		0.39%		0.85%
Destinations Municipal Fixed Income Fund		0.15%		0.39%		0.70%
Destinations Multi Strategy Alternatives Fund		0.53%		0.39%		1.35%
Destinations Shelter Fund		0.35%		0.39%		0.85%

Each Fund’s actual advisory fees may be less than the amounts set forth above due to the effect of additional voluntary fee waivers. Effective March 20, 2017, Brinker Capital has contractually agreed to waive a portion of its advisory fee with respect to any Fund until the period ended June 30, 2024 in order to keep the Fund’s management fees from exceeding 0.39% more than the total amount of sub-advisory fees paid by Brinker Capital with respect to such Fund. The agreement may be amended or terminated only with the consent of the Board of Trustees.

For the period ended August 31, 2023, the amounts waived by the Adviser, which are not recoupable, were as follows:

Fund
Destinations Large Cap Equity Fund	$	2,971,866
Destinations Small-Mid Cap Equity Fund		7,647
Destinations International Equity Fund		2,780,571
Destinations Equity Income Fund		344,559

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7. Investment Management Agreement (continued)

Fund
Destinations Core Fixed Income Fund					850,615
Destinations Low Duration Fixed Income Fund					74,481
Destinations Global Fixed Income Opportunities Fund					500,073
Destinations Municipal Fixed Income Fund					702,224
Destinations Multi Strategy Alternatives Fund					1,738,191
Destinations Shelter Fund					55,900

Cross trades for the year ended were executed by the Fund pursuant to procedures adopted by the Board of Trustees of the Fund to ensure compliance with Rule 17a-7 under the 1940 Act (the “Procedures”). In general, cross trading is the buying or selling of portfolio securities between the Fund and other series of the Trust, or between the Fund and other series. The Board of Trustees determines no less frequently than quarterly that such transactions were affected in compliance with the Procedures.

For the period ended, pursuant to these Procedures, each Funds’ total cross trades transactions were as follows:

Fund	Purchases			Sales			Realized Gain/(Loss)
Destinations Large Cap Equity Fund		$	7,439,265		$	1,424,183		$	(10,930)
Destinations International Equity Fund			—			227,078			153,916

8. Class Specific Expenses

The costs of managing and administering a Fund are spread among shareholders of each class of shares. These operating costs cover such things as investment management, custody, auditing, administrative and transfer agency expenses, fees and expenses of Trustees, and, to the extent applicable to a share class, shareholder servicing.

Shares of different classes are available to different eligible investors.

Class I Shares. Class I Shares are intended for investors participating in Destinations, an investment advisory program, sponsored by Brinker Capital or through certain third party advisory programs which includes a sub-transfer agent fee. The sub-transfer agent fee is calculated at a maximum annual rate of 0.15% of the average daily net assets of the I share class and is included with the Transfer agent fees in the Statements of Operations.

Class Z Shares. Class Z Shares are intended for investors participating in Destinations, an investment advisory program, available through certain third party advisory programs that do not include a sub-transfer agent fee.

For the period ended August 31, 2023, class specific expenses were as follows:

	Sub-Transfer Agent Fees
Fund	Class I
Destinations Large Cap Equity Fund		$	2,843,282
Destinations Small-Mid Cap Equity Fund			630,480
Destinations International Equity Fund			1,656,490
Destinations Equity Income Fund			468,121
Destinations Core Fixed Income Fund			1,430,251
Destinations Low Duration Fixed Income Fund			292,010
Destinations Global Fixed Income Opportunities Fund			543,957
Destinations Municipal Fixed Income Fund			636,185
Destinations Multi Strategy Alternatives Fund			553,736
Destinations Shelter Fund			74,443

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August 31, 2023 (unaudited) (continued)

9. Investments

During the period ended August 31, 2023, the aggregate cost of purchases and proceeds from sales of investments (excluding short-term investments) for each Fund were as follows:

	Investments						U.S. Government & Agency Obligations
Fund	Purchases			Sales			Purchases			Sales
Destinations Large Cap Equity Fund		$	1,772,719,820		$	2,629,566,168		$	—		$	—
Destinations Small-Mid Cap Equity Fund			481,781,322			790,275,299			—			—
Destinations International Equity Fund			986,893,024			605,924,538			—			—
Destinations Equity Income Fund			177,822,122			257,731,125			—			—
Destinations Core Fixed Income Fund			1,949,252,921			1,767,522,118			1,672,835,172			1,553,690,253
Destinations Low Duration Fixed Income Fund			141,494,900			213,017,626			26,928,009			28,009,073
Destinations Global Fixed Income Opportunities Fund			372,245,461			240,743,477			—			—
Destinations Municipal Fixed Income Fund			369,215,854			279,479,187			—			—
Destinations Multi Strategy Alternatives Fund			223,510,695			345,493,042			—			—
Destinations Shelter Fund			2,819,315			16,233,492			—			—

	Investments						U.S. Government & Agency Obligations
Fund	Securities Sold Short			Covers on Securities Sold Short			Securities Sold Short			Covers on Securities Sold Short
Destinations Large Cap Equity Fund		$	—		$	—		$	—		$	—
Destinations Small-Mid Cap Equity Fund			—			—			—			—
Destinations International Equity Fund			—			—			—			—
Destinations Equity Income Fund			—			—			—			—
Destinations Core Fixed Income Fund			235,054,674			249,683,289			235,054,674			249,683,289
Destinations Low Duration Fixed Income Fund			—			—			—			—
Destinations Global Fixed Income Opportunities Fund			8,330,763			8,859,571			—			—
Destinations Municipal Fixed Income Fund			—			—			—			—
Destinations Multi Strategy Alternatives Fund			44,347,078			44,038,050			—			—
Destinations Shelter Fund			—			—			—			—

At August 31, 2023, the aggregate gross unrealized appreciation and depreciation of investments for federal income tax purposes were as follows:

Fund	Aggregate Cost For Federal Income Tax Purposes			Gross Unrealized Appreciation			Gross Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
Destinations Large Cap Equity Fund		$	2,926,224,889		$	1,130,267,846		$	(43,585,659)		$	1,086,682,187
Destinations Small-Mid Cap Equity Fund			733,114,854			159,941,480			(26,573,702)			133,367,778
Destinations International Equity Fund			2,244,173,963			447,567,475			(153,448,870)			294,118,605
Destinations Equity Income Fund			593,281,982			64,341,574			(27,822,181)			36,519,393
Destinations Core Fixed Income Fund			2,430,302,754			8,086,301			(251,963,861)			(243,877,560)
Destinations Low Duration Fixed Income Fund			434,603,830			2,771,612			(28,158,204)			(25,386,592)
Destinations Global Fixed Income Opportunities Fund			880,522,178			6,436,468			(50,541,589)			(44,105,121)
Destinations Municipal Fixed Income Fund			920,864,095			1,443,696			(31,735,313)			(30,291,617)
Destinations Multi Strategy Alternatives Fund			725,066,374			54,184,847			(18,702,180)			35,482,667
Destinations Shelter Fund			96,394,587			11,163,489			(6,461,665)			4,701,824

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10. Shares of Beneficial Interest

At August 31, 2023, the Trust had an unlimited number of units of beneficial interest (shares) authorized with a par value of $0.001 per share. At August 31, 2023, Trustees and executive officers of the Trust as a group owned of record less than 1% of the outstanding shares of the Trust.

Transactions in shares of each Fund’s Class were as follows:

	Period ended August 31, 2023					Period ended August 31, 2023					Year ended February 28, 2023					Year ended February 28, 2023
	Shares		Amount			Shares		Amount			Shares		Amount			Shares		Amount
	Class I					Class Z					Class I					Class Z
Destinations Large Cap Equity Fund
Shares sold		11,825,593		$	158,043,698		2,957,511		$	29,872,990		39,077,559		$	504,336,142		7,716,086		$	78,471,942
Shares issued on reinvestment		—			—		—			—		16,834,864			206,900,479		2,880,929			26,936,686
Shares repurchased		(70,954,638)			(958,389,101)		(9,189,911)			(94,658,024)		(72,439,471)			(938,155,299)		(14,821,321)			(150,588,094)
Net Increase		(59,129,045)		$	(800,345,403)		(6,232,400)		$	(64,785,034)		(16,527,048)		$	(226,918,678)		(4,224,306)		$	(45,179,466)
Destinations Small-Mid Cap Equity Fund
Shares sold		3,354,265		$	38,784,738		778,316		$	6,615,668		11,237,281		$	133,573,872		2,313,614		$	20,629,275
Shares issued on reinvestment		—			—		—			—		3,059,392			34,693,512		530,903			4,443,660
Shares repurchased		(27,569,756)			(327,279,114)		(3,464,056)			(30,429,023)		(18,811,618)			(222,745,216)		(4,214,855)			(37,594,065)
Net Increase		(24,215,491)		$	(288,494,376)		(2,685,740)		$	(23,813,355)		(4,514,945)		$	(54,477,832)		(1,370,338)		$	(12,521,130)
Destinations International Equity Fund
Shares sold		46,294,850		$	562,951,898		6,304,652		$	66,186,743		19,551,445		$	228,834,565		3,692,644		$	37,882,738
Shares issued on reinvestment		—			—		—			—		4,209,879			47,529,535		584,941			5,691,480
Shares repurchased		(18,279,345)			(222,444,714)		(2,051,281)			(21,599,535)		(49,354,347)			(574,480,158)		(8,133,075)			(82,840,187)
Net Increase		28,015,505		$	340,507,184		4,253,371		$	44,587,208		(25,593,023)		$	(298,116,058)		(3,855,490)		$	(39,265,969)
Destinations Equity Income Fund
Shares sold		2,663,013		$	29,660,289		497,515		$	5,343,140		25,737,793		$	297,686,879		2,937,026		$	32,837,879
Shares issued on reinvestment		1,142,072			12,600,477		115,186			1,226,958		2,409,636			27,030,415		231,029			2,504,455
Shares repurchased		(10,403,483)			(117,134,041)		(936,212)			(10,171,214)		(9,757,706)			(111,671,803)		(1,498,948)			(16,748,275)
Net Increase		(6,598,398)		$	(74,873,275)		(323,511)		$	(3,601,116)		18,389,723		$	213,045,491		1,669,107		$	18,594,059
Destinations Core Fixed Income Fund
Shares sold		38,311,720		$	318,874,271		4,762,728		$	40,796,623		47,660,349		$	403,068,744		5,953,052		$	52,229,510
Shares issued on reinvestment		4,188,480			34,824,258		398,933			3,412,040		5,998,067			51,103,461		551,597			4,834,646
Shares repurchased		(24,794,566)			(207,110,438)		(2,135,479)			(18,354,614)		(48,080,051)			(411,011,008)		(7,233,767)			(64,928,010)
Net Increase		17,705,634		$	146,588,091		3,026,182		$	25,854,049		5,578,365		$	43,161,197		(729,118)		$	(7,863,854)
Destinations Low Duration Fixed Income Fund
Shares sold		2,976,448		$	27,284,971		589,563		$	5,532,674		9,653,848		$	90,253,320		1,014,252		$	9,730,784
Shares issued on reinvestment		1,274,774			11,643,430		107,855			1,008,142		2,897,153			26,746,026		232,593			2,197,436
Shares repurchased		(12,223,005)			(112,104,696)		(1,047,282)			(9,829,517)		(19,080,767)			(177,476,575)		(2,290,856)			(21,925,643)
Net Increase		(7,971,783)		$	(73,176,295)		(349,864)		$	(3,288,701)		(6,529,766)		$	(60,477,229)		(1,044,011)		$	(9,997,423)
Destinations Global Fixed Income Opportunities Fund
Shares sold		18,634,792		$	169,636,019		1,886,448		$	17,487,197		12,916,626		$	119,399,527		1,439,540		$	13,620,653
Shares issued on reinvestment		2,371,681			21,418,234		200,627			1,847,061		3,334,045			30,612,580		282,149			2,640,802
Shares repurchased		(9,076,489)			(82,233,296)		(733,480)			(6,777,337)		(15,329,028)			(142,145,739)		(2,256,124)			(21,479,728)
Net Increase		11,929,984		$	108,820,957		1,353,595		$	12,556,921		921,643		$	7,866,368		(534,435)		$	(5,218,273)

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Notes to Financial Statements

August 31, 2023 (unaudited) (concluded)

10. Shares of Beneficial Interest (concluded)

	Period ended August 31, 2023					Period ended August 31, 2023					Year ended February 28, 2023					Year ended February 28, 2023
	Shares		Amount			Shares		Amount			Shares		Amount			Shares		Amount
	Class I					Class Z					Class I					Class Z
Destinations Municipal Fixed Income Fund
Shares sold		12,015,755		$	115,418,014		1,118,403		$	10,785,287		16,852,037		$	160,539,965		1,823,148		$	17,583,000
Shares issued on reinvestment		1,188,844			11,386,509		67,353			647,089		1,666,203			15,945,827		91,194			875,610
Shares repurchased		(9,741,141)			(93,672,282)		(709,719)			(6,846,860)		(20,798,727)			(200,082,715)		(1,829,160)			(17,658,567)
Net Increase		3,463,458		$	33,132,241		476,037		$	4,585,516		(2,280,487)		$	(23,596,923)		85,182		$	800,043
Destinations Multi Strategy Alternatives Fund
Shares sold		7,686,449		$	78,353,556		819,103		$	8,112,870		11,205,219		$	111,935,599		1,869,949		$	18,229,720
Shares issued on reinvestment		1,210,598			12,221,483		111,899			1,100,634		2,936,084			28,697,347		273,115			2,601,205
Shares repurchased		(19,541,042)			(198,061,128)		(1,748,064)			(17,261,546)		(43,921,727)			(435,422,534)		(5,690,357)			(55,202,524)
Net Increase		(10,643,995)		$	(107,486,089)		(817,062)		$	(8,048,042)		(29,780,424)		$	(294,789,588)		(3,547,293)		$	(34,371,599)
Destinations Shelter Fund
Shares sold		179,798		$	1,655,126		14,849		$	132,695		885,864		$	8,031,819		32,883		$	289,310
Shares issued on reinvestment		16,517			153,311		438			4,020		56,071			484,189		1,335			11,403
Shares repurchased		(1,349,897)			(12,326,645)		(11,137)			(104,620)		(2,411,278)			(21,510,482)		(51,981)			(461,290)
Net Increase		(1,153,582)		$	(10,518,208)		4,150		$	32,095		(1,469,343)		$	(12,994,474)		(17,763)		$	(160,577)

11. Recent Accounting Pronouncements

In June 2022, the FASB issued ASU No.2022-03, Fair Value Measurement (Topic 820) — Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. The amendments in the ASU clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, should not be considered in measuring fair value. The ASU is effective for interim and annual reporting periods beginning after December 15, 2023, with the option of early adoption. Management is currently evaluating the impact, if any, of applying this ASU.

In March 2020, the FASB issued Accounting Standard Update (“ASU”) No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of the Reference Rate Reform in Financial Reporting.” This ASU provides optional exceptions for applying GAAP to contract modifications, hedging relationships and other transactions affected reference rate reform if certain criteria are met. ASU 2020-04 is elective and is effective on March 12, 2020 through December 31, 2024. Management expects that the adoption of the guidance will not have a material impact on the Funds’ financial statements.

12. Subsequent Events

Management has evaluated subsequent events after the balance sheet date through the date that the financial statements were issued and has not identified any events or transactions that would require recognition or disclosure in the financial statements.

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Board Approval of Management Agreement and Investment Advisory Agreements (unaudited)

Board Approval of Investment Advisory Agreements

(Unaudited)

Board Approval of Advisory Agreements

Brinker Capital Destinations Trust (“Trust” and, each series thereof a “Fund,” and together, the “Funds”) and Orion Portfolio Solutions, LLC (d/b/a Brinker Capital Investments) (formerly known as Brinker Capital Investments) (the “Adviser”), have entered into an investment advisory agreement (the “Advisory Agreement”), pursuant to which the Adviser selects investments in third-party funds and serves as “manager of managers” for the Funds in that it selects and oversees professional money managers (each, a “Sub-Adviser” and collectively, the “Sub-Advisers”) who are responsible for investing the portion of assets of the Funds allocated to each of them pursuant to a separate investment advisory agreement (a “Sub-Advisory Agreement” and collectively, the “Sub-Advisory Agreements” and, together with the Advisory Agreement, the “Agreements”) between the Adviser and each Sub-Adviser.

Section 15 of the Investment Company Act of 1940, as amended (the “Investment Company Act”) requires that the initial approval of a Fund’s investment advisory agreements be specifically approved by the vote of a majority of the outstanding shareholders of the Fund and the vote of a majority of the Trustees who are not “interested persons” (as defined in the Investment Company Act) of any party to the Agreements (the “Independent Trustees”) cast in person (or otherwise, as consistent with applicable laws, regulations and related guidance and relief) at a meeting called for such purpose. In addition, the Investment Company Act requires that the continuation or renewal of any investment advisory agreement be approved at least annually (after an initial period of up to two years), which requires the vote of a majority of the Board of Trustees (the “Board”), including a majority of the Independent Trustees. In the case of the initial approval of a Sub-Advisory Agreement, only the approval of a majority of the Board, including a majority of the Independent Trustees, is required because of an exemptive order that was granted to the Trust by the U.S. Securities and Exchange Commission (“SEC”).

Board Considerations of the Sub-Advisory Agreements

During the period covered by this Semi-Annual Report, the Board considered the renewal of certain Sub-Advisory Agreements with existing Sub-Advisers and the approval of new Sub-Advisory Agreements with new Sub-Advisers. In particular, at a meeting of the Board held on March 7-8, 2023, the Adviser recommended and the Board, including all of the Independent Trustees, approved one new Sub-Advisory Agreement and renewed five existing Sub-Advisory Agreements. The approval of the new Sub-Advisory Agreement covered the management of the Destinations Municipal Fixed Income Fund by Lord Abbett & Co. LLC (“Lord Abbett”). The renewal of the existing Sub-Advisory Agreements included: (i) the management of the Destinations Shelter Fund by Gateway Investment Advisers, LLC; (ii) the management of the Destinations Equity Income Fund by Federated Equity Management Company of Pennsylvania; and (iii) the management of the Destinations International Equity Fund by each of Wasatch Advisors, Inc., Massachusetts Financial Services Company d/b/a MFS Investment Management, and BAMCO, Inc.

Further, at a meeting of the Board held on June 6-7, 2023, the Adviser recommended and the Board, including all of the Independent Trustees, approved two new Sub-Advisory Agreements and renewed six existing Sub-Advisory Agreements. The approval of the new Sub-Advisory Agreements included: (i) the management of the Destinations Large Cap Equity Fund, Destinations Small-Mid Cap Equity Fund, and Destinations International Equity Fund by SSGA Funds Management, LLC (“SSGA”); and (ii) the management of the Destinations Large Cap Equity Fund by William Blair Investment Management, LLC (“William Blair”).

The renewal of the existing Sub-Advisory Agreements included: (i) the management of the Destinations Large Cap Equity Fund by each of Newton Investment Management North America LLC, River Road Asset Management, LLC, Strategas Asset Management, LLC, T. Rowe Price Associates, Inc. (“T. Rowe”)1, and Columbia Management Investment Advisers, LLC; (ii) the management of the Destinations Equity Income Fund by Neuberger Berman Investment Advisers LLC; and (iii) the management of the Destinations International Equity Fund with T. Rowe.

The Sub-Advisory Agreement between the Adviser and T. Rowe Price with respect to the management of the Destinations Large Cap Equity Fund was renewed in order to facilitate the transition of assets out of T. Rowe’s managed sleeve.

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Pursuant to the Sub-Advisory Agreements, the Sub-Advisers will provide (or will continue to provide) day-to-day management for the portion of the applicable Funds’ assets proposed to be allocated to them. In the context of Sub-Advisory Agreement renewals, the Board also considered information provided by the Adviser during prior meetings, and in the context of the approval of the new Sub-Advisory Agreements, the Board considered certain introductory information that the Adviser had provided during prior meetings regarding the background of each applicable Sub-Adviser and the Adviser’s thesis for incorporating its investment strategy for the applicable Fund(s). In doing so, the Trustees requested and received information from the Adviser and the Sub-Advisers that they deemed reasonably necessary for their review of the Sub-Advisory Agreements and to evaluate the relevant performance of the Sub-Advisers, either with respect to the Funds (in the case of renewals) or representative accounts (in the case of the approvals). The Trustees were assisted in their review by Fund counsel and counsel to those Trustees who are Independent Trustees and/or not an affiliated person of the Trust and met in executive sessions separate from representatives of the Adviser and the Sub-Advisers.

In voting to approve the Sub-Advisory Agreements, the Trustees considered whether the renewal or the approval of the Sub-Advisory Agreements would be in the best interests of the respective Fund and its shareholders, which included an evaluation based on several factors including those discussed below.

Nature, Extent and Quality of the Sub-Advisory Services Provided

The Board received and considered information regarding the nature, extent and quality of services that will be provided (or will continue to be provided) to the Funds by the Sub-Advisers under the Sub-Advisory Agreements. The Trustees considered information regarding the process by which the Adviser selected and recommended the Sub-Advisers to the Board for renewal or approval, and the supervisory activities over the Sub-Advisers performed by the Adviser, including monitoring the Sub-Advisers’ compliance with the investment objectives, policies, and restrictions of the allocated assets of each applicable Fund. The Board considered the Sub-Advisers’ proposed specific responsibilities in all aspects of the day-to-day management of the portion of the Funds’ assets proposed to be allocated to them, as well as the qualifications, experience and responsibilities of the persons proposed to serve as the portfolio managers for the Funds’ assets to be managed by the Sub-Advisers and of other key personnel of the Sub-Advisers. The Board specifically took into account how each Sub-Adviser’s investment processes and capabilities were expected to complement the other Sub-Advisers to the Fund. The Trustees discussed the terms of the Sub-Advisory Agreements and considered the Adviser’s favorable assessment of the nature and quality of the Sub-Advisers’ services expected to be provided (or continue to be provided) to the Funds. The Board also reviewed information received from the Adviser’s and the Trust’s Chief Compliance Officer regarding the Trust’s compliance policies and procedures established pursuant to Rule 38a-1 under the Investment Company Act and those of the Adviser and of each Sub-Adviser. In the case of the new Sub-Advisory Agreements, the Board considered the reports of the Trust’s Chief Compliance Officer as to the robustness of the Sub-Advisers’ compliance policies and procedures and Codes of Ethics.

The Board discussed with representatives of the Adviser, the portfolio management strategy proposed to be employed (or which would continue to be employed) by each of the Sub-Advisers. The Board concluded that, overall, the nature, extent and quality of the investment advisory services expected to be provided by each Sub-Adviser was adequate and appropriate in light of: (i) the Sub-Adviser’s experience and the qualifications of its investment personnel in providing portfolio management services to other investment portfolios, (ii) the portfolio management and research resources expected to be applied by the Sub-Adviser in managing the portion of the Fund’s assets allocated to them, (iii) how the Sub-Adviser is expected to complement the applicable Fund’s existing Sub-Advisers, (iv) the Sub-Adviser’s compliance program, and (v) the Adviser’s recommendation to engage the Sub-Adviser.

Performance

The Board received information from management regarding the Sub-Advisers’ historical performance returns managing the Funds (in the case of renewals) and managing investment mandates similar to that of the applicable Funds (in the case of renewals and the approval), with such performance compared to a relevant index. The Board discussed with representatives of the Adviser the investment strategy to be employed by each Sub-Adviser, its portfolio managers’ experience, and the Adviser’s experience and reputation in selecting, evaluating, and overseeing investment managers, including the process and diligence undertaken by the Adviser in evaluating Sub-Adviser performance. The Board determined that these factors supported a decision to renew or approve, as applicable, the Sub-Advisory Agreements.

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Sub-Advisory Fees and Expense Ratios; Economies of Scale and Other Benefits

The Board considered the fees payable under the Sub-Advisory Agreements, noting that the fees would be payable by the Adviser to each Sub-Adviser, and, thus, would not impact the fees paid by the Funds. The Board concluded that the fees payable to the Sub-Advisers with respect to the assets to be managed by the Sub-Adviser were reasonable and appropriate. The Board recognized that, because the Sub-Advisers’ fees would be paid by the Adviser, and not the Fund, an analysis of profitability was more appropriate in the context of the Board’s consideration of the management agreement between the Trust and the Adviser. The Board received and considered a profitability analysis of the Adviser with respect to the addition (i) of Lord Abbett as a Sub-Adviser to the Destinations Municipal Fixed Income Fund, (ii) of SSGA as a Sub-Adviser to the Destinations Large Cap Equity Fund, Destinations Small-Mid Cap Equity Fund, and Destinations International Equity Fund, and (iii) of William Blair as a Sub-Adviser to the Destinations Large Cap Equity Fund. The Board also received and considered a profitability analysis of the Adviser with respect to the sub-advisory fees to be paid under the Sub-Advisory Agreements proposed for renewal. The Board determined that the Adviser’s profitability was not excessive in light of the nature, extent and quality of the services to be provided to the applicable Funds, noting in particular the existence of an ongoing contractual fee waiver that limits the total amount of advisory fees that may be retained by the Adviser to 39 basis points of each Fund’s assets. Similarly, the Board recognized that, because each Sub-Adviser’s fees would be paid by the Adviser, and not the Funds, an analysis of economies of scale with respect to the Sub-Advisers was more appropriate in the context of the Board’s consideration of the management agreement between the Trust and the Adviser. Accordingly, economies of scale with respect to the Sub-Advisers were not materially considered relevant at that time to the Board’s decision to renew or approve, as applicable, the Sub-Advisory Agreements. The Board also concluded that any other benefits that could be expected to accrue to the Sub-Advisers by virtue of their relationship with the Funds, such as a reputational gain and increased assets under management, were reasonable.

After full consideration of the factors discussed above, with no single factor identified as being of paramount importance, the Board, with the advice of Fund counsel and independent legal counsel, resolved to renew and approve, as applicable, the proposed Sub-Advisory Agreements, having determined that the Sub-Advisory Agreements would be in the best interests of the applicable Funds and their shareholders.

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Additional Information (unaudited)

TRUSTEES AND OFFICERS OF THE TRUST

The Trust’s Board of Trustees (“Board” or “Trustees”) is responsible for overseeing the Trust’s management and operations. The Board approves all significant agreements between the Trust and the companies that furnish services to the Funds, including agreements with the Trust’s distributor, the Manager, the Sub-advisers, custodian, transfer agent and administrator. The Board elects officers who are responsible for the day-to-day operations of the Trust and the Funds and who execute policies authorized by the Board.

Orion Portfolio Solutions, LLC d.b.a. Brinker Capital Investments (“Brinker Capital” or the “Adviser”), serves as the investment adviser for the Funds. The Funds employ a “multi-manager” 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. In addition to investment advisory services, the Adviser monitors and supervises the services provided to the Trust by its administrator. The Adviser also is responsible for conducting all operations of the Trust, except those operations contracted to the Sub-advisers, the custodian, the transfer agent and the administrator.

The names of the Trustees and officers of the Trust, their addresses and years of birth, together with information as to their principal business occupations and, for the Trustees, other board memberships they have held during the past five years, are set forth below. The executive officers of the Trust are employees of organizations that provide services to the Funds. The Trust’s Statement of Additional Information (“SAI”) includes additional information about the Trustees and officers. The SAI may be obtained without charge by calling 1-877-771-7979.

Name, Address and
Date of Birth

Position(s)
Held with
Trust

Term of
Office and
Length of
Time Served*

Principal
Occupation(s)
During Past
Five Years

Number of
Funds
in Fund
Complex
Overseen
By Trustee

Other Board
Memberships
Held During
Past Five Years
by Trustee

INDEPENDENT TRUSTEES*

J. Scott Coleman, CFA
1055 Westlakes Drive, Suite 250
Berwyn, PA 19312

Birth Year: 1960

Trustee

Since 2017

President and Managing Partner of Woodland Park Consulting, LLC since 2017. President and CEO of Optimum Fund Trust from 2011 to 2015. President of Delaware Distributors from 2008 to 2015. Executive Vice President, Head of Distribution and Marketing, Delaware Investments 2008 to 2015. In addition, Head of Macquarie Investment Management EMEA Distribution from 2012 to 2015. Managing Director at Goldman Sachs & Co. from 2001 to 2008.

Osterweis Capital Management since May 2022, Optimum Fund Trust from 2011 to 2015.

Nicholas Marsini, Jr.
1055 Westlakes Drive, Suite 250
Berwyn, PA 19312

Birth Year: 1955

Trustee, Chair of Audit Committee

Since 2017

Retired since 2016. Regional President of PNC Delaware from 2011 to 2016. Executive Vice President and Chief Financial Officer of PNC Global Investment Servicing from 1997 to 2010.

FundVantage Trust, Third Avenue Trust, Third Avenue Variable Series Trust.

Gregory E. McGowan
1055 Westlakes Drive, Suite 250
Berwyn, PA 19312

Birth Year: 1949

Trustee

Since 2017

President and CEO, GEMPENN Global Consultancy, Inc. since 2016. Senior Strategic Advisor, Franklin Templeton Investments in 2016. Executive Vice

Lifestar Holdings (Formerly Global Capital PLC a Malta Public Company), Franklin Templeton Sealand Fund Management Co. Ltd., China Life Franklin Asset Management Company Limited,

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Name, Address and
Date of Birth

Position(s)
Held with
Trust

Term of
Office and
Length of
Time Served*

Principal
Occupation(s)
During Past
Five Years

Number of
Funds
in Fund
Complex
Overseen
By Trustee

Other Board
Memberships
Held During
Past Five Years
by Trustee

President, Director and General Counsel of Templeton International, Inc. from 1992 to 2016. Executive Vice President, Secretary and General Counsel of Templeton Global Advisors Limited (a Bahamian corporation) from 1992 to 2016.

Templeton Investment Counsel LLC, Franklin Templeton Trustee Services Private Limited (India), Franklin Templeton International Services S.A. (Luxembourg), Franklin Templeton Investments (Asia) Limited, Franklin Templeton Investments Japan Ltd., Templeton Asset Management Ltd. (Singapore), Franklin Templeton Holding Limited (Mauritius), Franklin Templeton Investment Services
Mexico, S. de R. L., Templeton Global Growth Fund Ltd (Australia), Franklin Liberty Shares ICAV (Ireland), Franklin Emerging Markets Debt Fund PLC (Ireland), Franklin Floating Rate Fund PLC (Ireland), The Dar Group (sub-advisory board), Hammerspace Inc. (sub-advisory board).

INTERESTED TRUSTEES*

Joseph V. Del Raso**
1055 Westlakes Drive, Suite 250
Berwyn, PA 19312

Birth Year: 1952

Trustee

Since 2017 (Chair of the Board until April 1, 2018).

Partner at Troutman Pepper Hamilton LLP (law firm) since 1998.

Lifestar Holdings (Formerly Global Capital PLC a Malta Public Company).

Noreen D. Beaman
1055 Westlakes Drive, Suite 250
Berwyn, PA 19312

Birth Year: 1964

Chair of the Board of Trustees

Since 2018

President of Brinker Capital Investments, LLC from 2020 until 2022. Chief Executive Officer of Brinker Capital, Inc. from 2012 to 2020. President of Brinker Capital Holdings, LLC from 2020 to 2022. President and CEO of Brinker Capital Securities, LLC from 2014 to 2022. President of Orion Advisor Solutions, Inc. from 2021 to 2022 (EVP in 2020). President of Orion Advisor Technology, LLC from 2021 to 2022 (EVP in 2020). President of Orion Portfolio Solutions, LLC from 2021 to 2022.

Board of Directors/Managers for following entities since 2020 and Vice Chair since February 2022: GT Polaris GP, LLC, GT Polaris Holdings, Inc., GT Polaris Midco, Inc., Orion Advisor Solutions, Inc.

Each Trustee remains in office until he or she resigns, retires or is removed.

Mr. Del Raso became an “interested” Trustee (as such term is defined under Section 2(a)(19) of the Investment Company Act) as of April 1, 2018. The law firm at which Mr. Del Raso is a partner provides legal services to a current Sub-Adviser of the Funds, making Mr. Del Raso an interested person with respect to the Trust, as a technical matter, pursuant to paragraphs (A)(iii) and (B)(iv) of Section 2(a)(19) of the 1940 Act.

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Name, Address and Date of Birth	Position(s) Held with Trust	Term of Office and Length of Time Served	Principal Occupation(s) During Past Five Years
OFFICERS***
Kylee Beach Brinker Capital Investments 1055 Westlakes Drive, Suite 250 Berwyn, PA 19312 Birth Year: 1984	President	Since August 2022	General Counsel and Secretary, Orion Advisor Solutions, Inc., since 2019; Orion Advisor Technology, LLC, since 2014; Brinker Capital Investments, since 2020 and also General Counsel for CLS Investments, LLC, now part of Brinker Capital Investments, LLC, since 2014; GT Polaris Holdings Inc., since 2020; GT Polaris Midco, Inc., since 2020; Brinker Capital Securities, LLC, since 2020; Advizr, Inc., since 2019; Orion Portfolio Solutions, LLC, since 2018; BasisCode Compliance, LLC, since 2021; Redtail Technology Inc., since 2022; TownSquare Capital, LLC, since 2022; Associate General Counsel, NorthStar Financial Services Group, LLC from 2012 to 2018.
Kevin Fustos Brinker Capital Investments 1055 Westlakes Drive, Suite 250 Berwyn, PA 19312 Birth Year: 1970	Chief Financial Officer & Treasurer	Since December 2020	Vice President of Financial Planning and Analysis, Orion Advisor Solutions, since 2016; Omaha Public Power District from 2004 to 2016.
Brian Ferko Brinker Capital Destinations Trust 1055 Westlakes Drive, Suite 250 Berwyn, PA 19312 Birth Year: 1971	Chief Operating Officer, Chief Compliance Officer & Anti- Money Laundering Officer	Since September 2023 and January 2017 respectively	Chief Compliance Officer of Brinker Capital Investments from 2015 to 2023; Chief Compliance Officer of Brinker Capital Investments, LLC contracted through Cipperman Compliance Services from 2010 to 2015; Chief Operating Officer of Cipperman Compliance Services from 2012 to 2015.
Peter Townsend Brinker Capital Destinations Trust 1055 Westlakes Drive, Suite 250 Berwyn, PA 19312 Birth Year: 1977	Secretary & Deputy Chief Compliance Officer	Since January 2017	Deputy Funds Chief Compliance Officer of Brinker Capital Investments since 2017; Director of Compliance of Penn Capital Management Company, Inc. from 2015 to 2017; Director of Compliance of Cipperman Compliance Services from 2013 to 2015; Associate of J.P. Morgan Chase & Co. from 2008 to 2013.

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Name, Address and Date of Birth	Position(s) Held with Trust	Term of Office and Length of Time Served	Principal Occupation(s) During Past Five Years
Timothy Holland, CFA Brinker Capital Destinations Trust 1055 Westlakes Drive, Suite 250 Berwyn, PA 19312 Birth Year: 1969	Investment Officer	Since June 2017	Chief Investment Officer of TownSquare Capital, LLC, an Orion Company, since 2023; Chief Investment Officer of Brinker Capital Investments from 2020 to 2023; Senior Vice President and Global Investment Strategist of Brinker Capital Investments, LLC from 2017 to 2020; Co-Head US Sub Advisory of Pictet Asset Management in 2016; Portfolio Manager and Partner of TAMRO Capital Partners from 2005 to 2016.
Rusty Vanneman, CFA, CMT, BFA Brinker Capital Investments 1055 Westlakes Drive, Suite 250 Berwyn, PA 19312 Birth Year: 1965	Investment Officer	Since June 2023	Chief Investment Officer and Senior Portfolio Manager at Brinker Capital Investments since 2023; Chief Investment Strategist at Brinker Capital Investments from 2020 to 2023; Chief Investment Officer at Brinker Capital Investments from 2019 – 2020; President at CLS Investments LLC from 2018 – 2019; Chief Investment Officer at CLS Investments LLC from 2012 – 2019.
Brian Storey, CFA Brinker Capital Investments 1055 Westlakes Drive, Suite 250 Berwyn, PA 19312 Birth Year: 1974	Investment Officer	Since June 2022	Deputy Chief Investment Officer — Destinations Portfolios at Brinker Capital Investments since 2023; Senior Portfolio Manager at Brinker Capital Investments since 2022; Senior Vice President and Senior Portfolio Manager at First Citizens Bank & Trust from 2016 to 2021; Portfolio Manager and Senior Research Analyst at First Citizens Bank & Trust from 2010 to 2016.
Patrick Amerson Brinker Capital Investments 1055 Westlakes Drive, Suite 250 Berwyn, PA 19312 Birth Year: 1994	Investment Officer	Since December 2021	Investment Analyst at Brinker Capital Investments since 2021; Client Service Representative at Brinker Capital Investments, LLC from 2019 to 2021; Operations Associate at Brinker Capital Investments, LLC from 2017 – 2019.

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Name, Address and Date of Birth			Position(s) Held with Trust			Term of Office and Length of Time Served			Principal Occupation(s) During Past Five Years
Andrew Goins, CFA Brinker Capital Investments 1055 Westlakes Drive, Suite 250 Berwyn, PA 19312 Birth Year: 1984			Investment Officer			Since June 2023			Senior Portfolio Manager at Brinker Capital Investments since 2023; Director of SMA and Mutual Fund Due Diligence at Brinker Capital Investments from 2021 to 2023; Investment Manager at Brinker Capital Investments from 2015 to 2021.

***

The President, Treasurer and Secretary hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Board.

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Brinker Capital Destinations Trust

Investment Adviser

Orion Portfolio Solutions, LLC d.b.a. Brinker Capital Investments
1055 Westlakes Drive, Suite 250
Berwyn, PA 19312
www.brinkercapital.com

Distributor

Foreside Fund Services, LLC
Three Canal Plaza, Suite 100
Portland, ME 04101
www.foreside.com

Legal Counsel

Morgan, Lewis & Bockius LLP
1701 Market Street
Philadelphia, PA 19103
www.morganlewis.com

Independent Registered Public Accounting Firm

KPMG LLP
1601 Market Street
Philadelphia, PA 19103
www.kpmg.us

This report is submitted for the general information of the shareholders of the Funds. It is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus, which includes information regarding each Fund’s risk, objectives, fees and expenses, experience of management, and other information.

Visit www.destinationsfunds.com for more information.

DSA_SAR

(b)

Include a copy of each notice transmitted to stockholders in reliance on Rule 30e-3 under the Act (17 CFR 270.30e-3) that contains disclosures specified by paragraph (c)(3) of that rule.

Not applicable.

ITEM 2. CODE OF ETHICS.

Not Applicable. This item is only required in an annual report on Form N-CSR.

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

Not Applicable. This item is only required in an annual report on Form N-CSR.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

Not Applicable. This item is only required in an annual report on Form N-CSR.

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

Not applicable.

ITEM 6. INVESTMENTS.

(a)

A Schedule of Investments in securities of unaffiliated issuers as of the close of the Reporting Period is included as part of the report to shareholders filed under Item 1 of this Form N-CSR.

(b)

Not Applicable.

ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not Applicable.

ITEM 8. Portfolio Managers of Closed-End Management Investment Companies.

Not Applicable.

ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANIES AND AFFILIATED PURCHASERS.

Not Applicable.

ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

There have been no material changes to the procedures by which the shareholders may recommend nominees to the Registrant’s Board of Trustees, where those changes were implemented after the Registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K (as required by Item 22(b)(15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.

ITEM 11. CONTROLS AND PROCEDURES.

(a) The Registrant’s principal executive officer and principal financial officer, or persons performing similar functions, have concluded that the Registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (17 CFR 270.30a-3(c)) were effective, as of a date within 90 days of the filing date of this report, based on their evaluations of these disclosure controls and procedures as required by Rule 30a-3(b) under the Investment Company Act of 1940, as amended (17 CFR 270.30a-3(b)), and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)).

(b) There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940, as amended (17 CFR 270.30a-3(d)), that occurred during the Registrant’s last fiscal half year that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

ITEM 12. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not Applicable.

ITEM 13. EXHIBITS.

(a)(1) Not Applicable.

(a)(2) Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940, as amended (17 CFR 270.30a-2(a)) are attached hereto.

(b) Certifications pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

Brinker Capital Destinations Trust

By:	/s/ Kylee Beach
	Kylee Beach
	President

Date:	October 30, 2023

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By:	/s/ Kylee Beach
	Kylee Beach
	President

Date:	October 30, 2023

Brinker Capital Destinations Trust

By:	/s/ Kevin Fustos
	Kevin Fustos
	Chief Financial Officer and Treasurer

Date:	October 30, 2023

Brinker Capital Destinations Trust N-CSRSCertified semi-annual shareholder report (management investment company)