Schedules of Investments
May 28, 2021# (unaudited)
Destinations Large Cap Equity Fund
Shares/Units | Security | Value | ||||||
COMMON STOCKS - 98.2% | ||||||||
BASIC MATERIALS - 2.7% | ||||||||
Chemicals - 1.8% | ||||||||
2,675 | Air Products & Chemicals Inc. | $ | 801,590 | |||||
1,370 | Albemarle Corp. | 228,899 | ||||||
61,035 | Celanese Corp., Class A Shares | 10,098,241 | ||||||
219,580 | CF Industries Holdings Inc. | 11,675,068 | ||||||
145,409 | Dow Inc. | 9,948,884 | ||||||
331,412 | DuPont de Nemours Inc. | 28,034,141 | ||||||
80,177 | Eastman Chemical Co. | 10,054,196 | ||||||
2,921 | Ecolab Inc. | 628,249 | ||||||
1,591 | FMC Corp. | 185,654 | ||||||
2,921 | International Flavors & Fragrances Inc. | 413,818 | ||||||
19,007 | Linde PLC | 5,713,504 | ||||||
91,292 | LyondellBasell Industries NV, Class A Shares | 10,281,305 | ||||||
4,052 | Mosaic Co. | 146,439 | ||||||
2,783 | PPG Industries Inc. | 500,161 | ||||||
2,841 | Sherwin-Williams Co. | 805,509 | ||||||
Total Chemicals | 89,515,658 | |||||||
Forest Products & Paper - 0.3% | ||||||||
163,480 | International Paper Co. | 10,315,588 | ||||||
62,625 | West Fraser Timber Co., Ltd. | 4,822,751 | ||||||
Total Forest Products & Paper | 15,138,339 | |||||||
Iron/Steel - 0.0% | ||||||||
3,603 | Nucor Corp. | 369,452 | ||||||
Mining - 0.6% | ||||||||
226,821 | Freeport-McMoRan Inc. | 9,689,793 | ||||||
292,187 | Newmont Corp. | 21,469,901 | ||||||
Total Mining | 31,159,694 | |||||||
TOTAL BASIC MATERIALS | 136,183,143 | |||||||
COMMUNICATIONS - 19.2% | ||||||||
Advertising - 0.0% | ||||||||
4,589 | Interpublic Group of Cos., Inc. | 154,604 | ||||||
2,627 | Omnicom Group Inc. | 216,045 | ||||||
Total Advertising | 370,649 | |||||||
Internet - 14.8% | ||||||||
4,946 | Airbnb Inc., Class A Shares* | 694,418 | ||||||
46,110 | Alibaba Group Holding Ltd., ADR* | 9,865,696 | ||||||
37,330 | Alphabet Inc., Class A Shares* | 87,981,211 | ||||||
20,788 | Alphabet Inc., Class C Shares* | 50,131,509 | ||||||
53,500 | Amazon.com Inc.* | 172,434,245 | ||||||
23,117 | Booking Holdings Inc.* | 54,591,951 | ||||||
1,705 | CDW Corp. | 282,041 | ||||||
268,301 | Chewy Inc., Class A Shares*(a) | 19,752,320 | ||||||
52,422 | Coupang Inc., Class A Shares*(a) | 2,138,293 | ||||||
32,293 | DoorDash Inc., Class A Shares* | 4,852,992 | ||||||
7,815 | eBay Inc. | 475,777 | ||||||
61,293 | Etsy Inc.* | 10,096,796 | ||||||
64,921 | Expedia Group Inc.* | 11,487,771 | ||||||
28,961 | F5 Networks Inc.* | 5,370,238 | ||||||
415,596 | Facebook Inc., Class A Shares* | 136,618,873 | ||||||
122,106 | Farfetch Ltd., Class A Shares* | 5,657,171 | ||||||
5,559 | IAC/InterActiveCorp* | 886,494 | ||||||
11,600 | Kuaishou Technology, Class B Shares*(b) | 299,534 | ||||||
269,768 | Match Group Inc.* | 38,679,336 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Large Cap Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
COMMUNICATIONS - 19.2% - (continued) | ||||||||
Internet - 14.8% - (continued) | ||||||||
43,661 | Netflix Inc.* | $ | 21,953,187 | |||||
6,835 | NortonLifeLock Inc. | 189,056 | ||||||
65,936 | Pinterest Inc., Class A Shares* | 4,305,621 | ||||||
83,089 | Sea Ltd., ADR* | 21,041,458 | ||||||
3,519 | Shopify Inc., Class A Shares* | 4,373,660 | ||||||
348,804 | Snap Inc., Class A Shares* | 21,667,705 | ||||||
20,984 | Spotify Technology SA* | 5,069,105 | ||||||
133,900 | Tencent Holdings Ltd. | 10,377,839 | ||||||
9,649 | Twitter Inc.* | 559,642 | ||||||
516,443 | Uber Technologies Inc.* | 26,250,798 | ||||||
47,114 | VeriSign Inc.* | 10,361,311 | ||||||
26,604 | Vimeo Inc., Class A, Private Placement*@ | 1,117,368 | ||||||
Total Internet | 739,563,416 | |||||||
Media - 1.5% | ||||||||
1,710 | Charter Communications Inc., Class A Shares* | 1,187,646 | ||||||
693,942 | Comcast Corp., Class A Shares | 39,790,634 | ||||||
1,909 | Discovery Inc., Class A Shares*(a) | 61,298 | ||||||
3,402 | Discovery Inc., Class C Shares* | 102,230 | ||||||
2,906 | DISH Network Corp., Class A Shares* | 126,469 | ||||||
272,585 | Fox Corp., Class A Shares | 10,181,050 | ||||||
1,805 | Fox Corp., Class B Shares | 65,485 | ||||||
4,594 | News Corp., Class A Shares | 123,992 | ||||||
1,606 | News Corp., Class B Shares | 41,258 | ||||||
7,115 | ViacomCBS Inc., Class B Shares | 301,818 | ||||||
146,803 | Walt Disney Co.* | 26,226,356 | ||||||
Total Media | 78,208,236 | |||||||
Telecommunications - 2.9% | ||||||||
674 | Arista Networks Inc.* | 228,742 | ||||||
86,217 | AT&T Inc. | 2,537,366 | ||||||
99,931 | Ciena Corp.* | 5,283,352 | ||||||
828,391 | Cisco Systems Inc. | 43,821,884 | ||||||
277,073 | Corning Inc. | 12,088,695 | ||||||
3,854 | Juniper Networks Inc. | 101,476 | ||||||
11,595 | Lumen Technologies Inc. | 160,475 | ||||||
164,114 | Motorola Solutions Inc. | 33,694,245 | ||||||
1,067,352 | Nokia OYJ, ADR* | 5,507,536 | ||||||
7,061 | T-Mobile US Inc.* | 998,779 | ||||||
406,327 | Verizon Communications Inc. | 22,953,412 | ||||||
525,528 | Vodafone Group PLC, ADR | 9,706,502 | ||||||
Total Telecommunications | 137,082,464 | |||||||
TOTAL COMMUNICATIONS | 955,224,765 | |||||||
CONSUMER CYCLICAL - 6.5% | ||||||||
Airlines - 0.1% | ||||||||
1,459 | Alaska Air Group Inc.* | 100,963 | ||||||
7,513 | American Airlines Group Inc.* | 182,115 | ||||||
7,715 | Delta Air Lines Inc.* | 367,851 | ||||||
61,474 | Southwest Airlines Co.* | 3,778,192 | ||||||
3,903 | United Airlines Holdings Inc.* | 227,740 | ||||||
Total Airlines | 4,656,861 | |||||||
Apparel - 1.1% | ||||||||
4,097 | Hanesbrands Inc. | 80,055 | ||||||
392,911 | NIKE Inc., Class B Shares | 53,616,635 | ||||||
835 | PVH Corp.* | 95,875 | ||||||
567 | Ralph Lauren Corp., Class A Shares* | 70,353 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Large Cap Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
CONSUMER CYCLICAL - 6.5% - (continued) | ||||||||
Apparel - 1.1% - (continued) | ||||||||
3,441 | Tapestry Inc.* | $ | 154,466 | |||||
2,206 | Under Armour Inc., Class A Shares* | 49,811 | ||||||
2,289 | Under Armour Inc., Class C Shares* | 43,628 | ||||||
3,883 | VF Corp. | 309,553 | ||||||
Total Apparel | 54,420,376 | |||||||
Auto Manufacturers - 0.8% | ||||||||
57,720 | Cummins Inc. | 14,850,202 | ||||||
40,335 | Ferrari NV | 8,507,055 | ||||||
47,243 | Ford Motor Co.* | 686,441 | ||||||
158,619 | General Motors Co.* | 9,407,693 | ||||||
4,194 | PACCAR Inc. | 384,003 | ||||||
9,283 | Tesla Inc.* | 5,803,917 | ||||||
Total Auto Manufacturers | 39,639,311 | |||||||
Auto Parts & Equipment - 0.1% | ||||||||
19,542 | Aptiv PLC* | 2,939,508 | ||||||
2,807 | BorgWarner Inc. | 143,971 | ||||||
Total Auto Parts & Equipment | 3,083,479 | |||||||
Distribution/Wholesale - 0.0% | ||||||||
2,514 | Copart Inc.* | 324,331 | ||||||
6,943 | Fastenal Co. | 368,257 | ||||||
3,278 | LKQ Corp.* | 167,047 | ||||||
493 | Pool Corp. | 215,219 | ||||||
536 | WW Grainger Inc. | 247,718 | ||||||
Total Distribution/Wholesale | 1,322,572 | |||||||
Entertainment - 0.1% | ||||||||
2,536 | Caesars Entertainment Inc.* | 272,493 | ||||||
64,190 | DraftKings Inc., Class A Shares* | 3,206,290 | ||||||
1,686 | Live Nation Entertainment Inc.* | 151,925 | ||||||
1,746 | Penn National Gaming Inc.* | 143,120 | ||||||
Total Entertainment | 3,773,828 | |||||||
Home Builders - 0.0% | ||||||||
4,001 | DR Horton Inc. | 381,255 | ||||||
3,318 | Lennar Corp., Class A Shares | 328,515 | ||||||
43 | NVR Inc.* | 210,151 | ||||||
3,263 | PulteGroup Inc. | 188,569 | ||||||
Total Home Builders | 1,108,490 | |||||||
Home Furnishings - 0.2% | ||||||||
72,744 | Dolby Laboratories Inc., Class A Shares | 7,095,450 | ||||||
1,562 | Leggett & Platt Inc. | 85,957 | ||||||
772 | Whirlpool Corp. | 183,033 | ||||||
Total Home Furnishings | 7,364,440 | |||||||
Housewares - 0.0% | ||||||||
4,438 | Newell Brands Inc. | 127,326 | ||||||
Leisure Time - 0.0% | ||||||||
9,691 | Carnival Corp.* | 286,466 | ||||||
4,266 | Norwegian Cruise Line Holdings Ltd.* | 136,085 | ||||||
2,673 | Royal Caribbean Cruises Ltd.* | 249,311 | ||||||
Total Leisure Time | 671,862 | |||||||
Lodging - 0.6% | ||||||||
3,356 | Hilton Worldwide Holdings Inc.* | 420,406 | ||||||
375,686 | Las Vegas Sands Corp.* | 21,695,866 | ||||||
3,216 | Marriott International Inc., Class A Shares* | 461,753 | ||||||
5,035 | MGM Resorts International | 215,850 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Large Cap Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
CONSUMER CYCLICAL - 6.5% - (continued) | ||||||||
Lodging - 0.6% - (continued) | ||||||||
70,888 | Wynn Resorts Ltd.* | $ | 9,348,001 | |||||
Total Lodging | 32,141,876 | |||||||
Retail - 3.5% | ||||||||
770 | Advance Auto Parts Inc. | 146,092 | ||||||
268 | AutoZone Inc.* | 376,969 | ||||||
2,786 | Best Buy Co., Inc. | 323,845 | ||||||
1,972 | CarMax Inc.* | 227,155 | ||||||
15,275 | Carvana Co., Class A Shares* | 4,049,250 | ||||||
4,862 | Chipotle Mexican Grill Inc., Class A Shares* | 6,670,567 | ||||||
87,966 | Costco Wholesale Corp. | 33,274,899 | ||||||
1,591 | Darden Restaurants Inc. | 227,879 | ||||||
110,199 | Dollar General Corp. | 22,365,989 | ||||||
202,686 | Dollar Tree Inc.* | 19,761,885 | ||||||
23,501 | Domino's Pizza Inc. | 10,031,872 | ||||||
2,416 | Gap Inc. | 80,815 | ||||||
1,762 | Genuine Parts Co. | 231,033 | ||||||
13,015 | Home Depot Inc. | 4,150,614 | ||||||
2,874 | L Brands Inc.* | 200,806 | ||||||
135,737 | Lowe's Cos., Inc. | 26,445,640 | ||||||
22,527 | Lululemon Athletica Inc.* | 7,279,150 | ||||||
9,013 | McDonald's Corp. | 2,108,051 | ||||||
849 | O'Reilly Automotive Inc.* | 454,317 | ||||||
134,794 | Ross Stores Inc. | 17,036,614 | ||||||
14,233 | Starbucks Corp. | 1,620,854 | ||||||
6,055 | Target Corp. | 1,374,001 | ||||||
14,515 | TJX Cos., Inc. | 980,343 | ||||||
1,410 | Tractor Supply Co. | 256,197 | ||||||
689 | Ulta Beauty Inc.* | 237,953 | ||||||
8,670 | Walgreens Boots Alliance Inc. | 456,562 | ||||||
16,760 | Walmart Inc. | 2,380,423 | ||||||
87,812 | Yum! Brands Inc. | 10,534,806 | ||||||
Total Retail | 173,284,581 | |||||||
Textiles - 0.0% | ||||||||
732 | Mohawk Industries Inc.* | 154,218 | ||||||
Toys/Games/Hobbies - 0.0% | ||||||||
1,500 | Hasbro Inc. | 143,955 | ||||||
TOTAL CONSUMER CYCLICAL | 321,893,175 | |||||||
CONSUMER NON-CYCLICAL - 23.9% | ||||||||
Agriculture - 1.4% | ||||||||
223,454 | Altria Group Inc. | 10,998,406 | ||||||
420,051 | Archer-Daniels-Midland Co. | 27,945,993 | ||||||
315,954 | Philip Morris International Inc. | 30,467,444 | ||||||
Total Agriculture | 69,411,843 | |||||||
Beverages - 0.6% | ||||||||
131,104 | Brown-Forman Corp., Class B Shares | 10,535,517 | ||||||
46,886 | Coca-Cola Co. | 2,592,327 | ||||||
2,056 | Constellation Brands Inc., Class A Shares | 492,864 | ||||||
3,216 | Molson Coors Beverage Co., Class B Shares* | 187,557 | ||||||
4,469 | Monster Beverage Corp.* | 421,293 | ||||||
108,794 | PepsiCo Inc. | 16,094,984 | ||||||
Total Beverages | 30,324,542 | |||||||
Biotechnology - 3.1% | ||||||||
2,658 | Alexion Pharmaceuticals Inc.* | 469,270 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Large Cap Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
CONSUMER NON-CYCLICAL - 23.9% - (continued) | ||||||||
Biotechnology - 3.1% - (continued) | ||||||||
46,941 | Amgen Inc. | $ | 11,169,142 | |||||
7,864 | Argenx SE, ADR* | 2,193,977 | ||||||
46,870 | Biogen Inc.* | 12,536,788 | ||||||
209,018 | BioMarin Pharmaceutical Inc.* | 16,157,091 | ||||||
253 | Bio-Rad Laboratories Inc., Class A Shares* | 152,400 | ||||||
8,995 | Corteva Inc. | 409,273 | ||||||
208,638 | Exact Sciences Corp.* | 23,060,758 | ||||||
160,405 | Gilead Sciences Inc. | 10,604,375 | ||||||
94,988 | Illumina Inc.* | 38,530,932 | ||||||
163,499 | Incyte Corp.* | 13,697,946 | ||||||
1,273 | Regeneron Pharmaceuticals Inc.* | 639,593 | ||||||
27,478 | United Therapeutics Corp.* | 5,108,160 | ||||||
91,068 | Vertex Pharmaceuticals Inc.* | 18,999,517 | ||||||
Total Biotechnology | 153,729,222 | |||||||
Commercial Services - 3.5% | ||||||||
3,351 | Affirm Holdings Inc., Class A Shares*(a) | 203,774 | ||||||
60,787 | Afterpay Ltd.* | 4,401,625 | ||||||
5,173 | Automatic Data Processing Inc. | 1,014,011 | ||||||
24,924 | Avalara Inc.* | 3,294,205 | ||||||
20,363 | Cintas Corp. | 7,199,135 | ||||||
24,667 | CoStar Group Inc.* | 21,065,618 | ||||||
49,917 | Equifax Inc. | 11,732,492 | ||||||
1,010 | FleetCor Technologies Inc.* | 277,184 | ||||||
1,080 | Gartner Inc.* | 250,387 | ||||||
53,605 | Global Payments Inc. | 10,383,825 | ||||||
4,507 | IHS Markit Ltd. | 474,632 | ||||||
3,950 | MarketAxess Holdings Inc. | 1,842,833 | ||||||
1,945 | Moody's Corp. | 652,256 | ||||||
4,202 | Nielsen Holdings PLC | 114,336 | ||||||
210,936 | PayPal Holdings Inc.* | 54,847,579 | ||||||
110,326 | Quanta Services Inc. | 10,519,584 | ||||||
1,329 | Robert Half International Inc. | 118,002 | ||||||
2,601 | Rollins Inc. | 88,668 | ||||||
21,404 | S&P Global Inc. | 8,122,176 | ||||||
116,764 | Square Inc., Class A Shares* | 25,982,325 | ||||||
42,215 | StoneCo Ltd., Class A Shares* | 2,784,924 | ||||||
57,991 | TransUnion | 6,205,037 | ||||||
874 | United Rentals Inc.* | 291,881 | ||||||
1,968 | Verisk Analytics Inc., Class A Shares | 340,129 | ||||||
Total Commercial Services | 172,206,618 | |||||||
Cosmetics/Personal Care - 0.6% | ||||||||
10,258 | Colgate-Palmolive Co. | 859,415 | ||||||
83,653 | Estee Lauder Cos., Inc., Class A Shares | 25,641,318 | ||||||
29,769 | Procter & Gamble Co. | 4,014,350 | ||||||
Total Cosmetics/Personal Care | 30,515,083 | |||||||
Food - 0.8% | ||||||||
2,384 | Campbell Soup Co. | 116,029 | ||||||
555,575 | Conagra Brands Inc. | 21,167,408 | ||||||
7,392 | General Mills Inc. | 464,661 | ||||||
1,773 | Hershey Co. | 306,818 | ||||||
3,299 | Hormel Foods Corp. | 160,133 | ||||||
1,352 | JM Smucker Co. | 180,208 | ||||||
3,126 | Kellogg Co. | 204,722 | ||||||
7,837 | Kraft Heinz Co. | 341,615 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Large Cap Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
CONSUMER NON-CYCLICAL - 23.9% - (continued) | ||||||||
Food – 0.8% - (continued) | ||||||||
9,204 | Kroger Co. | $ | 340,364 | |||||
1,719 | Lamb Weston Holdings Inc. | 141,800 | ||||||
3,019 | McCormick & Co., Inc. | 268,872 | ||||||
263,177 | Mondelez International Inc., Class A Shares | 16,719,635 | ||||||
6,170 | Sysco Corp. | 499,770 | ||||||
3,572 | Tyson Foods Inc., Class A Shares | 283,974 | ||||||
Total Food | 41,196,009 | |||||||
Healthcare-Products – 4.9% | ||||||||
21,416 | Abbott Laboratories | 2,498,176 | ||||||
114,569 | ABIOMED Inc.* | 32,604,046 | ||||||
152,309 | Alcon Inc. | 10,612,891 | ||||||
48,497 | Align Technology Inc.* | 28,620,505 | ||||||
102,441 | Avantor Inc.* | 3,293,478 | ||||||
6,106 | Baxter International Inc. | 501,425 | ||||||
17,132 | Boston Scientific Corp.* | 728,967 | ||||||
598 | Cooper Cos., Inc. | 235,283 | ||||||
58,707 | Danaher Corp. | 15,037,211 | ||||||
121,508 | DENTSPLY SIRONA Inc. | 8,131,315 | ||||||
390,772 | Edwards Lifesciences Corp.* | 37,475,035 | ||||||
3,156 | Hologic Inc.* | 199,017 | ||||||
58,644 | IDEXX Laboratories Inc.* | 32,729,803 | ||||||
17,950 | Intuitive Surgical Inc.* | 15,117,131 | ||||||
235,195 | Medtronic PLC | 29,773,335 | ||||||
1,383 | PerkinElmer Inc. | 200,632 | ||||||
1,759 | ResMed Inc. | 362,090 | ||||||
1,043 | STERIS PLC | 199,067 | ||||||
53,002 | Stryker Corp. | 13,529,821 | ||||||
569 | Teleflex Inc. | 228,846 | ||||||
4,761 | Thermo Fisher Scientific Inc. | 2,235,290 | ||||||
896 | West Pharmaceutical Services Inc. | 311,369 | ||||||
64,452 | Zimmer Biomet Holdings Inc. | 10,849,205 | ||||||
Total Healthcare-Products | 245,473,938 | |||||||
Healthcare-Services - 2.3% | ||||||||
24,260 | Anthem Inc. | 9,660,817 | ||||||
2,082 | Catalent Inc.* | 218,256 | ||||||
208,730 | Centene Corp.* | 15,362,528 | ||||||
601 | Charles River Laboratories International Inc.* | 203,132 | ||||||
83,364 | DaVita Inc.* | 10,009,515 | ||||||
83,193 | HCA Healthcare Inc. | 17,869,024 | ||||||
11,329 | Humana Inc. | 4,958,703 | ||||||
2,312 | IQVIA Holdings Inc.* | 555,250 | ||||||
40,047 | Laboratory Corp. of America Holdings* | 10,992,101 | ||||||
1,630 | Quest Diagnostics Inc. | 214,622 | ||||||
107,191 | UnitedHealth Group Inc. | 44,154,117 | ||||||
914 | Universal Health Services Inc., Class B Shares | 145,902 | ||||||
Total Healthcare-Services | 114,343,967 | |||||||
Household Products/Wares - 0.0% | ||||||||
1,015 | Avery Dennison Corp. | 223,838 | ||||||
2,975 | Church & Dwight Co., Inc. | 255,047 | ||||||
1,524 | Clorox Co. | 269,337 | ||||||
4,086 | Kimberly-Clark Corp. | 533,754 | ||||||
Total Household Products/Wares | 1,281,976 | |||||||
Pharmaceuticals - 6.7% | ||||||||
125,475 | AbbVie Inc. | 14,203,770 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Large Cap Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
CONSUMER NON-CYCLICAL - 23.9% - (continued) | ||||||||
Pharmaceuticals - 6.7% - (continued) | ||||||||
1,799 | AmerisourceBergen Corp., Class A Shares | $ | 206,417 | |||||
106,803 | AstraZeneca PLC, ADR(a) | 6,063,206 | ||||||
40,794 | Becton Dickinson & Co. | 9,867,661 | ||||||
403,999 | Bristol-Myers Squibb Co. | 26,550,814 | ||||||
373,987 | Cardinal Health Inc. | 20,969,451 | ||||||
147,591 | Cigna Corp. | 38,203,930 | ||||||
431,092 | CVS Health Corp. | 37,263,593 | ||||||
1,163 | DexCom Inc.* | 429,601 | ||||||
253,049 | Elanco Animal Health Inc.* | 9,104,703 | ||||||
273,735 | Eli Lilly & Co. | 54,675,829 | ||||||
1,673 | Henry Schein Inc.* | 127,215 | ||||||
56,641 | Horizon Therapeutics PLC* | 5,191,714 | ||||||
156,599 | Johnson & Johnson | 26,504,381 | ||||||
28,994 | McKesson Corp. | 5,578,156 | ||||||
428,917 | Merck & Co., Inc. | 32,550,511 | ||||||
1,563 | Perrigo Co. PLC | 72,117 | ||||||
67,429 | Pfizer Inc. | 2,611,525 | ||||||
142,896 | Sarepta Therapeutics Inc.* | 10,810,082 | ||||||
1,862,401 | Viatris Inc. | 28,382,991 | ||||||
5,744 | Zoetis Inc., Class A Shares | 1,014,850 | ||||||
Total Pharmaceuticals | 330,382,517 | |||||||
TOTAL CONSUMER NON-CYCLICAL | 1,188,865,715 | |||||||
ENERGY - 3.1% | ||||||||
Energy-Alternate Sources - 0.6% | ||||||||
127,629 | Enphase Energy Inc.* | 18,257,329 | ||||||
153,526 | NextEra Energy Partners LP | 10,496,573 | ||||||
Total Energy-Alternate Sources | 28,753,902 | |||||||
Oil & Gas - 2.5% | ||||||||
4,438 | APA Corp. | 92,311 | ||||||
4,691 | Cabot Oil & Gas Corp. | 76,932 | ||||||
23,288 | Chevron Corp. | 2,417,062 | ||||||
452,169 | ConocoPhillips | 25,203,900 | ||||||
495,872 | Devon Energy Corp. | 13,170,360 | ||||||
2,232 | Diamondback Energy Inc. | 178,716 | ||||||
7,055 | EOG Resources Inc. | 566,799 | ||||||
405,148 | EQT Corp.* | 8,459,490 | ||||||
407,535 | Exxon Mobil Corp. | 23,787,818 | ||||||
189,782 | Hess Corp. | 15,907,527 | ||||||
1,755 | HollyFrontier Corp. | 56,985 | ||||||
9,272 | Marathon Oil Corp. | 112,284 | ||||||
364,623 | Marathon Petroleum Corp. | 22,533,701 | ||||||
10,177 | Occidental Petroleum Corp. | 264,195 | ||||||
5,281 | Phillips 66 | 444,766 | ||||||
2,487 | Pioneer Natural Resources Co. | 378,497 | ||||||
135,958 | Valero Energy Corp. | 10,931,023 | ||||||
Total Oil & Gas | 124,582,366 | |||||||
Oil & Gas Services - 0.0% | ||||||||
8,958 | Baker Hughes Co., Class A Shares | 218,575 | ||||||
10,844 | Halliburton Co. | 243,448 | ||||||
4,560 | NOV Inc.* | 73,507 | ||||||
16,904 | Schlumberger NV | 529,602 | ||||||
Total Oil & Gas Services | 1,065,132 | |||||||
Pipelines - 0.0% | ||||||||
23,536 | Kinder Morgan Inc. | 431,650 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Large Cap Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
ENERGY - 3.1% - (continued) | ||||||||
Pipelines - 0.0% - (continued) | ||||||||
5,389 | ONEOK Inc. | $ | 284,216 | |||||
14,674 | Williams Cos., Inc. | 386,513 | ||||||
Total Pipelines | 1,102,379 | |||||||
TOTAL ENERGY | 155,503,779 | |||||||
FINANCIAL - 13.7% | ||||||||
Banks - 3.9% | ||||||||
735,331 | Bank of America Corp. | 31,170,681 | ||||||
9,753 | Bank of New York Mellon Corp. | 507,936 | ||||||
25,234 | Citigroup Inc. | 1,986,168 | ||||||
137,849 | Citizens Financial Group Inc. | 6,878,665 | ||||||
1,635 | Comerica Inc. | 128,331 | ||||||
8,596 | Fifth Third Bancorp | 362,235 | ||||||
2,127 | First Republic Bank | 407,193 | ||||||
21,757 | Goldman Sachs Group Inc. | 8,094,039 | ||||||
12,499 | Huntington Bancshares Inc. | 198,234 | ||||||
231,379 | JPMorgan Chase & Co. | 38,001,687 | ||||||
11,760 | KeyCorp | 270,950 | ||||||
1,565 | M&T Bank Corp. | 251,480 | ||||||
91,486 | Morgan Stanley | 8,320,652 | ||||||
2,521 | Northern Trust Corp. | 305,520 | ||||||
5,126 | PNC Financial Services Group Inc. | 997,930 | ||||||
11,665 | Regions Financial Corp. | 273,078 | ||||||
4,253 | State Street Corp. | 369,926 | ||||||
653 | SVB Financial Group* | 380,627 | ||||||
566,858 | Truist Financial Corp. | 35,020,487 | ||||||
561,427 | US Bancorp | 34,123,533 | ||||||
394,079 | Wells Fargo & Co. | 18,411,371 | ||||||
1,929 | Zions Bancorp N.A. | 111,651 | ||||||
Total Banks | 186,572,374 | |||||||
Diversified Financial Services - 5.1% | ||||||||
223,302 | Ally Financial Inc. | 12,216,852 | ||||||
7,889 | American Express Co. | 1,263,266 | ||||||
91,565 | Ameriprise Financial Inc. | 23,792,250 | ||||||
282,464 | Ant International Co., Ltd., Class C Shares, Private Placement*(c)(d)@ | 1,991,371 | ||||||
1,716 | BlackRock Inc., Class A Shares | 1,505,001 | ||||||
166,071 | Capital One Financial Corp. | 26,700,895 | ||||||
1,259 | Cboe Global Markets Inc. | 140,127 | ||||||
377,070 | Charles Schwab Corp. | 27,846,620 | ||||||
4,340 | CME Group Inc., Class A Shares | 949,418 | ||||||
241,289 | Discover Financial Services | 28,293,548 | ||||||
3,206 | Franklin Resources Inc. | 109,677 | ||||||
6,791 | Intercontinental Exchange Inc. | 766,568 | ||||||
4,421 | Invesco Ltd. | 126,131 | ||||||
349 | Maplebear Inc. d/b/a Instacart, Non-voting Shares*(c)(d)@ | 43,625 | ||||||
6,679 | Maplebear Inc. d/b/a Instacart, Private Placement*(c)(d)@ | 834,875 | ||||||
113,342 | Mastercard Inc., Class A Shares | 40,868,858 | ||||||
1,408 | Nasdaq Inc. | 235,784 | ||||||
1,505 | Raymond James Financial Inc. | 199,548 | ||||||
118,586 | Social Finance Inc., Private Placement*(c)(d)@ | 3,955,735 | ||||||
6,571 | Synchrony Financial | 311,531 | ||||||
2,756 | T Rowe Price Group Inc. | 527,361 | ||||||
28,747 | Tradeweb Markets Inc., Class A Shares | 2,408,424 | ||||||
343,357 | Visa Inc., Class A Shares | 78,045,046 | ||||||
4,826 | Western Union Co. | 118,092 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Large Cap Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
FINANCIAL - 13.7% - (continued) | ||||||||
Diversified Financial Services - 5.1% - (continued) | ||||||||
64,146 | XP Inc., Class A Shares* | $ | 2,544,030 | |||||
Total Diversified Financial Services | 255,794,633 | |||||||
Equity Real Estate Investment Trusts (REITs) – 1.3% | ||||||||
1,541 | Alexandria Real Estate Equities Inc. | 274,699 | ||||||
46,472 | American Tower Corp. | 11,871,737 | ||||||
1,687 | AvalonBay Communities Inc. | 349,108 | ||||||
1,744 | Boston Properties Inc. | 205,025 | ||||||
60,449 | Crown Castle International Corp. | 11,455,086 | ||||||
3,399 | Digital Realty Trust Inc. | 515,152 | ||||||
4,575 | Duke Realty Corp. | 212,555 | ||||||
1,079 | Equinix Inc. | 794,921 | ||||||
325,359 | Equity Residential | 25,199,055 | ||||||
794 | Essex Property Trust Inc. | 234,460 | ||||||
1,609 | Extra Space Storage Inc. | 241,044 | ||||||
820 | Federal Realty Investment Trust | 93,759 | ||||||
6,578 | Healthpeak Properties Inc. | 219,574 | ||||||
8,285 | Host Hotels & Resorts Inc.* | 142,253 | ||||||
3,388 | Iron Mountain Inc. | 147,514 | ||||||
5,079 | Kimco Realty Corp. | 108,233 | ||||||
1,399 | Mid-America Apartment Communities Inc. | 224,819 | ||||||
8,940 | Prologis Inc. | 1,053,490 | ||||||
1,838 | Public Storage | 519,198 | ||||||
4,514 | Realty Income Corp. | 308,758 | ||||||
1,990 | Regency Centers Corp. | 128,554 | ||||||
1,322 | SBA Communications Corp., Class A Shares | 394,115 | ||||||
3,971 | Simon Property Group Inc. | 510,234 | ||||||
3,486 | UDR Inc. | 166,038 | ||||||
4,554 | Ventas Inc. | 252,519 | ||||||
1,843 | Vornado Realty Trust | 87,137 | ||||||
5,046 | Welltower Inc. | 377,289 | ||||||
278,318 | Weyerhaeuser Co. | 10,564,951 | ||||||
Total Equity Real Estate Investment Trusts (REITs) | 66,651,277 | |||||||
Insurance - 3.4% | ||||||||
7,742 | Aflac Inc. | 438,817 | ||||||
3,661 | Allstate Corp. | 500,129 | ||||||
551,554 | American International Group Inc. | 29,144,113 | ||||||
54,649 | Aon PLC, Class A Shares | 13,846,417 | ||||||
2,342 | Arthur J Gallagher & Co. | 343,361 | ||||||
172,206 | Assurant Inc. | 27,750,997 | ||||||
139,236 | Berkshire Hathaway Inc., Class B Shares* | 40,300,468 | ||||||
5,443 | Chubb Ltd. | 925,256 | ||||||
1,835 | Cincinnati Financial Corp. | 223,338 | ||||||
152,082 | Equitable Holdings Inc. | 4,828,604 | ||||||
470 | Everest Re Group Ltd. | 122,181 | ||||||
1,116 | Globe Life Inc. | 117,649 | ||||||
4,327 | Hartford Financial Services Group Inc. | 282,769 | ||||||
2,251 | Lincoln National Corp. | 157,097 | ||||||
2,815 | Loews Corp. | 164,340 | ||||||
6,144 | Marsh & McLennan Cos., Inc. | 850,022 | ||||||
406,594 | MetLife Inc. | 26,574,984 | ||||||
3,110 | Principal Financial Group Inc. | 203,363 | ||||||
7,081 | Progressive Corp. | 701,585 | ||||||
4,799 | Prudential Financial Inc. | 513,349 | ||||||
3,049 | Travelers Cos., Inc. | 486,925 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Large Cap Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
FINANCIAL - 13.7% - (continued) | ||||||||
Insurance – 3.4% - (continued) | ||||||||
2,393 | Unum Group | $ | 74,111 | |||||
311,650 | Voya Financial Inc. | 20,419,308 | ||||||
1,559 | Willis Towers Watson PLC | 407,460 | ||||||
1,646 | WR Berkley Corp. | 128,372 | ||||||
Total Insurance | 169,505,015 | |||||||
Real Estate - 0.0% | ||||||||
4,057 | CBRE Group Inc., Class A Shares* | 356,123 | ||||||
Savings & Loans - 0.0% | ||||||||
4,998 | People's United Financial Inc. | 94,512 | ||||||
TOTAL FINANCIAL | 678,973,934 | |||||||
INDUSTRIAL - 8.6% | ||||||||
Aerospace/Defense - 3.3% | ||||||||
31,464 | Airbus SE* | 4,143,998 | ||||||
36,141 | Boeing Co.* | 8,927,550 | ||||||
55,814 | General Dynamics Corp. | 10,599,637 | ||||||
382,589 | Howmet Aerospace Inc.* | 13,574,258 | ||||||
99,387 | L3Harris Technologies Inc. | 21,672,329 | ||||||
28,828 | Lockheed Martin Corp. | 11,018,062 | ||||||
122,749 | Northrop Grumman Corp. | 44,910,177 | ||||||
407,819 | Raytheon Technologies Corp. | 36,177,623 | ||||||
21,952 | Teledyne Technologies Inc.* | 9,208,205 | ||||||
661 | TransDigm Group Inc.* | 428,883 | ||||||
Total Aerospace/Defense | 160,660,722 | |||||||
Building Materials - 0.4% | ||||||||
277,329 | Carrier Global Corp. | 12,737,721 | ||||||
1,708 | Fortune Brands Home & Security Inc. | 176,197 | ||||||
8,707 | Johnson Controls International PLC | 579,364 | ||||||
755 | Martin Marietta Materials Inc. | 274,556 | ||||||
3,151 | Masco Corp. | 190,037 | ||||||
26,018 | Vulcan Materials Co. | 4,769,620 | ||||||
Total Building Materials | 18,727,495 | |||||||
Electrical Components & Equipment - 0.1% | ||||||||
2,787 | AMETEK Inc. | 376,524 | ||||||
7,254 | Emerson Electric Co. | 694,135 | ||||||
9,166 | Generac Holdings Inc.* | 3,013,047 | ||||||
Total Electrical Components & Equipment | 4,083,706 | |||||||
Electronics - 0.7% | ||||||||
3,684 | Agilent Technologies Inc. | 508,871 | ||||||
1,066 | Allegion PLC | 149,752 | ||||||
7,243 | Amphenol Corp., Class A Shares | 487,164 | ||||||
4,090 | Fortive Corp. | 296,607 | ||||||
1,818 | Garmin Ltd. | 258,592 | ||||||
105,014 | Honeywell International Inc. | 24,248,783 | ||||||
54,660 | Hubbell Inc., Class B Shares | 10,420,382 | ||||||
2,250 | Keysight Technologies Inc.* | 320,355 | ||||||
283 | Mettler-Toledo International Inc.* | 368,169 | ||||||
4,000 | TE Connectivity Ltd. | 542,720 | ||||||
3,055 | Trimble Inc.* | 237,648 | ||||||
759 | Waters Corp.* | 244,588 | ||||||
Total Electronics | 38,083,631 | |||||||
Engineering & Construction - 0.0% | ||||||||
1,590 | Jacobs Engineering Group Inc. | 225,907 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Large Cap Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
INDUSTRIAL - 8.6% - (continued) | ||||||||
Environmental Control - 0.0% | ||||||||
1,950 | Pentair PLC | $ | 134,491 | |||||
23,420 | Redwood Materials Inc., Series C, Private Placement*@ | 1,110,189 | ||||||
2,551 | Republic Services Inc., Class A Shares | 278,518 | ||||||
4,706 | Waste Management Inc. | 662,040 | ||||||
Total Environmental Control | 2,185,238 | |||||||
Hand/Machine Tools - 0.0% | ||||||||
637 | Snap-on Inc. | 162,193 | ||||||
1,945 | Stanley Black & Decker Inc. | 421,676 | ||||||
Total Hand/Machine Tools | 583,869 | |||||||
Machinery-Construction & Mining - 0.9% | ||||||||
571,704 | Bloom Energy Corp., Class A Shares* | 13,818,086 | ||||||
118,283 | Caterpillar Inc. | 28,515,666 | ||||||
Total Machinery-Construction & Mining | 42,333,752 | |||||||
Machinery-Diversified - 0.3% | ||||||||
3,789 | Deere & Co. | 1,368,208 | ||||||
1,744 | Dover Corp. | 262,472 | ||||||
929 | IDEX Corp. | 206,851 | ||||||
234,998 | Ingersoll Rand Inc.* | 11,665,301 | ||||||
4,928 | Otis Worldwide Corp. | 386,010 | ||||||
1,404 | Rockwell Automation Inc. | 370,263 | ||||||
2,086 | Westinghouse Air Brake Technologies Corp. | 172,637 | ||||||
2,192 | Xylem Inc. | 258,919 | ||||||
Total Machinery-Diversified | 14,690,661 | |||||||
Miscellaneous Manufacturers - 1.5% | ||||||||
7,001 | 3M Co. | 1,421,483 | ||||||
145,884 | AO Smith Corp. | 10,367,976 | ||||||
142,414 | Eaton Corp. PLC | 20,685,633 | ||||||
105,997 | General Electric Co. | 1,490,318 | ||||||
3,484 | Illinois Tool Works Inc. | 807,452 | ||||||
1,560 | Parker-Hannifin Corp. | 480,714 | ||||||
151,968 | Textron Inc. | 10,405,249 | ||||||
142,413 | Trane Technologies PLC | 26,545,783 | ||||||
Total Miscellaneous Manufacturers | 72,204,608 | |||||||
Packaging & Containers - 0.0% | ||||||||
19,032 | Amcor PLC | 224,578 | ||||||
3,964 | Ball Corp. | 325,682 | ||||||
1,114 | Packaging Corp. of America | 165,596 | ||||||
1,820 | Sealed Air Corp. | 103,485 | ||||||
3,243 | WestRock Co. | 189,132 | ||||||
Total Packaging & Containers | 1,008,473 | |||||||
Shipbuilding - 0.2% | ||||||||
47,289 | Huntington Ingalls Industries Inc. | 10,224,355 | ||||||
Transportation - 1.2% | ||||||||
1,572 | CH Robinson Worldwide Inc. | 152,515 | ||||||
9,218 | CSX Corp. | 922,906 | ||||||
2,064 | Expeditors International of Washington Inc. | 259,424 | ||||||
73,203 | FedEx Corp. | 23,045,036 | ||||||
981 | JB Hunt Transport Services Inc. | 168,281 | ||||||
1,098 | Kansas City Southern | 326,853 | ||||||
12,921 | Norfolk Southern Corp. | 3,629,509 | ||||||
1,159 | Old Dominion Freight Line Inc. | 307,657 | ||||||
94,243 | Union Pacific Corp. | 21,179,229 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Large Cap Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
INDUSTRIAL - 8.6% - (continued) | ||||||||
Transportation - 1.2% - (continued) | ||||||||
55,327 | United Parcel Service Inc., Class B Shares | $ | 11,873,174 | |||||
Total Transportation | 61,864,584 | |||||||
TOTAL INDUSTRIAL | 426,877,001 | |||||||
TECHNOLOGY - 18.8% | ||||||||
Computers - 2.6% | ||||||||
7,667 | Accenture PLC, Class A Shares | 2,163,321 | ||||||
596,925 | Apple Inc. | 74,382,824 | ||||||
426,385 | Cognizant Technology Solutions Corp., Class A Shares | 30,512,111 | ||||||
2,990 | DXC Technology Co.* | 113,381 | ||||||
45,713 | Fortinet Inc.* | 9,990,119 | ||||||
15,819 | Hewlett Packard Enterprise Co. | 252,471 | ||||||
15,142 | HP Inc. | 442,601 | ||||||
10,803 | International Business Machines Corp. | 1,552,823 | ||||||
99,314 | Leidos Holdings Inc. | 10,204,514 | ||||||
2,615 | NetApp Inc. | 202,323 | ||||||
2,456 | Seagate Technology Holdings PLC | 235,162 | ||||||
3,722 | Western Digital Corp.* | 280,006 | ||||||
Total Computers | 130,331,656 | |||||||
Office/Business Equipment - 0.1% | ||||||||
6,046 | Zebra Technologies Corp., Class A Shares* | 3,005,164 | ||||||
Semiconductors – 3.9% | ||||||||
234,543 | Advanced Micro Devices Inc.* | 18,782,203 | ||||||
4,460 | Analog Devices Inc. | 734,116 | ||||||
90,365 | Applied Materials Inc. | 12,482,117 | ||||||
21,339 | ASML Holding NV, Class NY Registered Shares, ADR | 14,413,854 | ||||||
56,635 | Broadcom Inc. | 26,750,410 | ||||||
49,118 | Intel Corp. | 2,805,620 | ||||||
421 | IPG Photonics Corp.* | 88,098 | ||||||
1,863 | KLA Corp. | 590,366 | ||||||
1,728 | Lam Research Corp. | 1,122,941 | ||||||
3,240 | Maxim Integrated Products Inc. | 330,512 | ||||||
3,255 | Microchip Technology Inc. | 510,872 | ||||||
73,686 | Micron Technology Inc.* | 6,199,940 | ||||||
504 | Monolithic Power Systems Inc. | 172,932 | ||||||
100,057 | NVIDIA Corp. | 65,015,037 | ||||||
3,349 | NXP Semiconductors NV | 708,046 | ||||||
60,119 | Qorvo Inc.* | 10,984,944 | ||||||
173,712 | QUALCOMM Inc. | 23,371,212 | ||||||
1,994 | Skyworks Solutions Inc. | 338,980 | ||||||
64,834 | Taiwan Semiconductor Manufacturing Co., Ltd., ADR | 7,608,918 | ||||||
2,028 | Teradyne Inc. | 268,406 | ||||||
11,125 | Texas Instruments Inc. | 2,111,748 | ||||||
2,971 | Xilinx Inc. | 377,317 | ||||||
Total Semiconductors | 195,768,589 | |||||||
Software - 12.2% | ||||||||
262,026 | Activision Blizzard Inc. | 25,482,029 | ||||||
88,532 | Adobe Inc.* | 44,671,477 | ||||||
1,999 | Akamai Technologies Inc.* | 228,306 | ||||||
1,049 | ANSYS Inc.* | 354,499 | ||||||
39,320 | Autodesk Inc.* | 11,240,015 | ||||||
74,682 | Black Knight Inc.* | 5,480,912 | ||||||
1,413 | Broadridge Financial Solutions Inc. | 225,345 | ||||||
3,373 | Cadence Design Systems Inc.* | 428,337 | ||||||
3,711 | Cerner Corp. | 290,386 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Large Cap Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
TECHNOLOGY - 18.8% - (continued) | ||||||||
Software - 12.2% - (continued) | ||||||||
1,444 | Citrix Systems Inc. | $ | 166,002 | |||||
56,249 | Clarivate PLC* | 1,689,720 | ||||||
822,945 | Cloudera Inc.* | 10,583,073 | ||||||
4,276 | Coupa Software Inc.* | 1,018,543 | ||||||
29,461 | Datadog Inc., Class A Shares* | 2,682,424 | ||||||
101,599 | DocuSign Inc., Class A Shares* | 20,484,390 | ||||||
3,477 | Electronic Arts Inc. | 496,968 | ||||||
3,985 | Epic Games Inc., Private Placement*(c)(d)@ | 3,526,725 | ||||||
229,138 | Fidelity National Information Services Inc. | 34,136,979 | ||||||
106,736 | Fiserv Inc.* | 12,295,987 | ||||||
150,265 | Intuit Inc. | 65,979,859 | ||||||
894 | Jack Henry & Associates Inc. | 137,810 | ||||||
454,500 | Microsoft Corp. | 113,479,560 | ||||||
5,700 | MongoDB Inc., Class A Shares* | 1,664,058 | ||||||
71,522 | MSCI Inc., Class A Shares | 33,481,594 | ||||||
331,922 | Oracle Corp. | 26,135,538 | ||||||
3,880 | Paychex Inc. | 392,423 | ||||||
7,538 | Paycom Software Inc.* | 2,484,525 | ||||||
46,873 | Playtika Holding Corp.* | 1,285,726 | ||||||
1,235 | PTC Inc.* | 165,663 | ||||||
96,209 | RingCentral Inc., Class A Shares* | 25,251,976 | ||||||
12,366 | ROBLOX Corp., Class A Shares* | 1,159,560 | ||||||
30,788 | Roper Technologies Inc. | 13,854,908 | ||||||
204,548 | salesforce.com Inc.* | 48,702,879 | ||||||
113,457 | ServiceNow Inc.* | 53,765,003 | ||||||
744 | Snowflake Inc., Class A Shares* | 177,094 | ||||||
212,328 | Splunk Inc.* | 25,734,154 | ||||||
20,012 | Stripe Inc., Class B Shares, Private Placement*(c)(d)@ | 802,982 | ||||||
1,842 | Synopsys Inc.* | 468,494 | ||||||
1,404 | Take-Two Interactive Software Inc.* | 260,526 | ||||||
498 | Tyler Technologies Inc.* | 200,774 | ||||||
2,358 | UiPath Inc., Class A Shares*(a) | 188,216 | ||||||
86,045 | UiPath Inc., Class A Shares, Private Placement*(c)(d)@ | 6,524,706 | ||||||
13,033 | Workday Inc., Class A Shares* | 2,980,908 | ||||||
15,337 | Zoom Video Communications Inc., Class A Shares* | 5,084,676 | ||||||
Total Software | 605,845,729 | |||||||
TOTAL TECHNOLOGY | 934,951,138 | |||||||
UTILITIES - 1.7% | ||||||||
Electric - 1.7% | ||||||||
427,886 | AES Corp. | 10,872,583 | ||||||
2,935 | Alliant Energy Corp. | 167,735 | ||||||
3,077 | Ameren Corp. | 259,083 | ||||||
6,004 | American Electric Power Co., Inc. | 516,344 | ||||||
6,478 | CenterPoint Energy Inc. | 163,893 | ||||||
298,735 | Clearway Energy Inc., Class C Shares | 8,015,060 | ||||||
3,525 | CMS Energy Corp. | 221,159 | ||||||
4,140 | Consolidated Edison Inc. | 319,774 | ||||||
9,740 | Dominion Energy Inc. | 741,604 | ||||||
2,343 | DTE Energy Co. | 323,311 | ||||||
9,293 | Duke Energy Corp. | 931,344 | ||||||
355,268 | Edison International | 19,848,823 | ||||||
2,434 | Entergy Corp. | 256,203 | ||||||
2,799 | Evergy Inc. | 173,510 | ||||||
4,147 | Eversource Energy | 336,695 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Large Cap Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
UTILITIES - 1.7% - (continued) | ||||||||
Electric - 1.7% - (continued) | ||||||||
548,029 | Exelon Corp. | $ | 24,727,069 | |||||
6,606 | FirstEnergy Corp. | 250,433 | ||||||
23,693 | NextEra Energy Inc. | 1,734,801 | ||||||
2,874 | NRG Energy Inc. | 92,399 | ||||||
1,324 | Pinnacle West Capital Corp. | 111,984 | ||||||
358,248 | PPL Corp. | 10,428,599 | ||||||
6,106 | Public Service Enterprise Group Inc. | 379,305 | ||||||
3,658 | Sempra Energy | 495,622 | ||||||
12,774 | Southern Co. | 816,514 | ||||||
3,813 | WEC Energy Group Inc. | 358,079 | ||||||
6,500 | Xcel Energy Inc. | 460,720 | ||||||
Total Electric | 83,002,646 | |||||||
Gas - 0.0% | ||||||||
1,505 | Atmos Energy Corp. | 149,251 | ||||||
4,603 | NiSource Inc. | 117,377 | ||||||
Total Gas | 266,628 | |||||||
Water - 0.0% | ||||||||
2,193 | American Water Works Co., Inc. | 339,959 | ||||||
TOTAL UTILITIES | 83,609,233 | |||||||
TOTAL COMMON STOCKS | ||||||||
(Cost - $3,224,966,991) | 4,882,081,883 | |||||||
PREFERRED STOCKS - 0.6% | ||||||||
CONSUMER CYCLICAL - 0.5% | ||||||||
Auto Manufacturers - 0.5% | ||||||||
48,210 | Aurora Innovation Inc., Series B, Private Placement*(c)(d)@ | 947,653 | ||||||
213,270 | Rivian Automotive Inc., Series D, Private Placement*(c)(d)@ | 7,858,999 | ||||||
348,850 | Rivian Automotive Inc., Series E, Private Placement*(c)(d)@ | 12,855,123 | ||||||
66,431 | Rivian Automotive Inc., Series F, Private Placement*(c)(d)@ | 2,447,982 | ||||||
21,292 | Sila Nanotechnologies Inc., Series F, Private Placement*(c)(d)@ | 878,780 | ||||||
9,549 | Waymo LLC, Series A2, Private Placement*(c)(d)@ | 875,853 | ||||||
Total Auto Manufacturers | 25,864,390 | |||||||
TOTAL CONSUMER CYCLICAL | 25,864,390 | |||||||
FINANCIAL - 0.0% | ||||||||
Diversified Financial Services - 0.0% | ||||||||
1,020 | Maplebear Inc. d/b/a Instacart, Series A*(c)(d)@ | 127,500 | ||||||
13,638 | Maplebear Inc. d/b/a Instacart, Series G*(c)(d)@ | 1,704,750 | ||||||
2,066 | Maplebear Inc. d/b/a Instacart, Series I*(c)(d)@ | 258,250 | ||||||
Total Diversified Financial Services | 2,090,500 | |||||||
TOTAL FINANCIAL | 2,090,500 | |||||||
INDUSTRIAL - 0.1% | ||||||||
Electrical Components & Equipment - 0.1% | ||||||||
48,400 | GM Cruise Holdings LLC, Class F Shares, Private Placement*(c)(d)@ | 1,275,340 | ||||||
39,865 | GM Cruise Holdings LLC, Class G Shares, Private Placement*(c)(d)@ | 1,050,443 | ||||||
Total Electrical Components & Equipment | 2,325,783 | |||||||
Machinery - 0.0% | ||||||||
108,389 | Nuro Inc., Series C, Private Placement*(c)(d)@ | 1,414,975 | ||||||
TOTAL INDUSTRIAL | 3,740,758 | |||||||
TECHNOLOGY - 0.0% | ||||||||
Software - 0.0% | ||||||||
3,977 | Celonis SE, Private Placement*(c)(d)@ | 3,977 | ||||||
15,057 | Magic Leap Inc., Series D, Private Placement*(c)(d)@ | 9,185 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Large Cap Equity Fund (continued)
Shares/Units | Security | Value | ||||||
PREFERRED STOCKS - (continued) | ||||||||
TECHNOLOGY - 0.0% - (continued) | ||||||||
Software - 0.0% - (continued) | ||||||||
20,620 | Rappi Inc., Series E, Private Placement*(c)(d)@ | $ | 1,231,963 | |||||
Total Software | 1,245,125 | |||||||
TOTAL TECHNOLOGY | 1,245,125 | |||||||
TOTAL PREFERRED STOCKS | ||||||||
(Cost - $18,254,799) | 32,940,773 | |||||||
EXCHANGE TRADED FUND (ETF) - 0.1% | ||||||||
16,568 | iShares Russell 1000 Value (Cost - $2,433,353) | 2,669,602 | ||||||
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS (Cost - $3,245,655,143) | 4,917,692,258 | |||||||
Face Amount† | ||||||||
SHORT-TERM INVESTMENTS - 1.1% | ||||||||
TIME DEPOSITS - 1.1% | ||||||||
1,114,922 | ANZ National Bank - London, 0.005% due 6/1/21 | 1,114,922 | ||||||
23,349,040 | Banco Bilbao Vizcaya Argentaria SA - Madrid, 0.005% due 6/1/21 | 23,349,040 | ||||||
11,306,283 | BNP Paribas - Paris, 0.005% due 6/1/21 | 11,306,283 | ||||||
4 | GBP | Citibank - London, 0.005% due 6/1/21 | 6 | |||||
18,517,691 | Skandinaviska Enskilda Banken AB - Stockholm, 0.005% due 6/1/21 | 18,517,691 | ||||||
TOTAL TIME DEPOSITS (Cost - $54,287,942) | 54,287,942 | |||||||
Shares/Units | ||||||||
INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING - 0.1% | ||||||||
MONEY MARKET FUND - 0.1% | ||||||||
7,368,489 | Federated Government Obligations Fund, Premier Class, 0.025%(e) (Cost - $7,368,489) | $ | 7,368,489 | |||||
TOTAL INVESTMENTS - 100.1% (Cost - $3,307,311,574) | 4,979,348,689 | |||||||
Liabilities in Excess of Other Assets - (0.1)% | (4,231,059 | ) | ||||||
TOTAL NET ASSETS - 100.0% | $ | 4,975,117,630 |
# | May 28, 2021 represents the last business day of the Fund’s fiscal first quarter. |
† | Face amount denominated in U.S. dollars, unless otherwise noted. |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. |
(b) | Restricted security that may be sold to “qualified institutional buyers” pursuant to the conditions of Rule 144A under the Securities Act of 1933, as amended. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees, unless otherwise noted. The aggregate value of restricted 144A holdings at May 28, 2021, amounts to approximately $299,534 and represents 0.01% of net assets. |
(c) | Illiquid security. The aggregate value of illiquid holdings at May 28, 2021, amounts to approximately $50,620,792 and represents 1.02% of net assets. |
(d) | Security is valued in good faith at fair value by or under the direction of the Board of Trustees using significant unobservable inputs. |
(e) | Represents investment of collateral received from securities lending transactions. |
@ | Restricted security – Investment in security not registered under the Securities Act of 1933. The investment is deemed to not be liquid and may be sold only to qualified buyers. |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Large Cap Equity Fund (continued)
Security | First Acquisition Date | First Acquisition Cost | Market Value | Percent of Net Assets | ||||||||||||
Ant International Co., Ltd., Class C Shares, Private Placement | 6/7/2018 | $ | 1,584,623 | $ | 1,991,371 | 0.04 | % | |||||||||
Aurora Innovation Inc., Series B, Private Placement | 3/1/2019 | 445,475 | 947,653 | 0.02 | % | |||||||||||
Celonis SE, Private Placement | 5/6/2021 | 3,977 | 3,977 | 0.00 | %* | |||||||||||
Epic Games Inc., Private Placement | 6/18/2020 | 1,665,200 | 3,526,725 | 0.07 | % | |||||||||||
GM Cruise Holdings LLC, Class F Shares, Private Placement | 5/7/2019 | 883,300 | 1,275,340 | 0.03 | % | |||||||||||
GM Cruise Holdings LLC, Class G Shares, Private Placement | 1/21/2021 | 1,050,443 | 1,050,443 | 0.02 | % | |||||||||||
Magic Leap Inc., Series D, Private Placement | 10/12/2017 | 406,539 | 9,185 | 0.00 | %* | |||||||||||
Maplebear Inc. d/b/a Instacart, Non-voting Shares | 8/7/2020 | 16,171 | 43,625 | 0.00 | %* | |||||||||||
Maplebear Inc. d/b/a Instacart, Private Placement | 8/7/2020 | 309,464 | 834,875 | 0.02 | % | |||||||||||
Maplebear Inc. d/b/a Instacart, Series A | 11/18/2020 | 62,232 | 127,500 | 0.00 | %* | |||||||||||
Maplebear Inc. d/b/a Instacart, Series G | 7/2/2020 | 655,877 | 1,704,750 | 0.03 | % | |||||||||||
Maplebear Inc. d/b/a Instacart, Series I | 2/26/2021 | 258,250 | 258,250 | 0.01 | % | |||||||||||
Nuro Inc., Series C, Private Placement | 10/30/2020 | 940,662 | 1,414,975 | 0.03 | % | |||||||||||
Rappi Inc., Series E, Private Placement | 9/8/2020 | 1,231,963 | 1,231,963 | 0.02 | % | |||||||||||
Redwood Materials Inc., Series C, Private Placement | 5/28/2021 | 1,110,189 | 1,110,189 | 0.02 | % | |||||||||||
Rivian Automotive Inc., Series D, Private Placement | 12/23/2019 | 2,291,373 | 7,858,999 | 0.16 | % | |||||||||||
Rivian Automotive Inc., Series E, Private Placement | 7/10/2020 | 5,403,687 | 12,855,123 | 0.26 | % | |||||||||||
Rivian Automotive Inc., Series F, Private Placement | 1/19/2021 | 2,447,982 | 2,447,982 | 0.05 | % | |||||||||||
Sila Nanotechnologies Inc., Series F, Private Placement | 1/7/2021 | 878,780 | 878,780 | 0.02 | % | |||||||||||
Social Finance Inc., Private Placement | 12/30/2020 | 2,185,540 | 3,955,735 | 0.08 | % | |||||||||||
Stripe Inc., Class B Shares, Private Placement | 12/17/2019 | 313,988 | 802,982 | 0.02 | % | |||||||||||
Uipath Inc., Class A Shares, Private Placement | 12/11/2020 | 270,413 | 6,524,706 | 0.12 | % | |||||||||||
Vimeo Inc., Class A, Private Placement | 1/25/2021 | 561,730 | 1,117,368 | 0.02 | % | |||||||||||
Waymo LLC, Series A2, Private Placement | 5/8/2020 | 819,946 | 875,853 | 0.02 | % | |||||||||||
Total | $ | 52,848,349 | 1.06 | % |
* Position represents less than 0.005%.
Abbreviations used in this schedule: | ||
ADR | — | American Depositary Receipts |
LLC | — | Limited Liability Company |
LP | — | Limited Partnership |
PLC | — | Public Limited Company |
Summary of Investments by Security Sector^ | ||||
Consumer Non-cyclical | 23.9 | % | ||
Communications | 19.2 | |||
Technology | 18.8 | |||
Financial | 13.7 | |||
Industrial | 8.6 | |||
Consumer Cyclical | 7.0 | |||
Energy | 3.1 | |||
Basic Materials | 2.7 | |||
Utilities | 1.7 | |||
Exchange Traded Funds (ETFs) | 0.1 | |||
Short-Term Investments | 1.1 | |||
Money Market Fund | 0.1 | |||
100.0 | % |
^ As a percentage of total investments.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Large Cap Equity Fund (concluded)
At May 28, 2021, Destinations Large Cap Equity Fund had open exchange traded futures contracts as described below.
The unrealized appreciation on the open contracts was as follows:
Open Futures Contracts | Number of Contracts | Expiration Date (Month/Year) | Notional Amounts | Market Value | Unrealized Appreciation | |||||||||||||||
Contracts to Buy: | ||||||||||||||||||||
S&P 500 E-mini Index June Futures | 20 | 6/21 | $ | 3,990,476 | $ | 4,202,500 | $ | 212,024 |
At May 28, 2021, Destinations Large Cap Equity Fund had deposited cash of $223,000 with a broker or brokers as margin collateral on open exchange traded futures contracts.
Currency Abbreviations used in this schedule: | ||
GBP | — | British Pound |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Small-Mid Cap Equity Fund
Shares/Units | Security | Value | ||||||
COMMON STOCKS - 94.5% | ||||||||
BASIC MATERIALS - 5.9% | ||||||||
Chemicals - 5.4% | ||||||||
23,800 | Air Products & Chemicals Inc. | $ | 7,131,908 | |||||
77,200 | Ashland Global Holdings Inc. | 7,321,648 | ||||||
36,587 | Cabot Corp. | 2,326,201 | ||||||
66,600 | Celanese Corp., Class A Shares | 11,018,970 | ||||||
74,400 | FMC Corp. | 8,681,736 | ||||||
32,552 | Ingevity Corp.* | 2,679,355 | ||||||
21,147 | Innospec Inc. | 2,138,173 | ||||||
50,900 | International Flavors & Fragrances Inc. | 7,211,003 | ||||||
61,194 | Olin Corp. | 2,991,775 | ||||||
91,708 | Orion Engineered Carbons SA* | 1,856,170 | ||||||
39,500 | PPG Industries Inc. | 7,098,940 | ||||||
22,550 | Rogers Corp.* | 4,224,742 | ||||||
35,435 | Tronox Holdings PLC, Class A Shares | 832,014 | ||||||
109,320 | Valvoline Inc. | 3,607,560 | ||||||
Total Chemicals | 69,120,195 | |||||||
Iron/Steel - 0.1% | ||||||||
45,397 | Cleveland-Cliffs Inc.* | 913,388 | ||||||
Mining - 0.4% | ||||||||
11,945 | Arconic Corp.* | 432,051 | ||||||
64,620 | Gatos Silver Inc.*(a) | 1,101,125 | ||||||
46,438 | Hudbay Minerals Inc. | 351,536 | ||||||
13,158 | Kaiser Aluminum Corp. | 1,702,513 | ||||||
154,882 | Livent Corp.* | 3,021,748 | ||||||
14,110 | MP Materials Corp.*(a) | 396,209 | ||||||
Total Mining | 7,005,182 | |||||||
TOTAL BASIC MATERIALS | 77,038,765 | |||||||
COMMUNICATIONS - 6.8% | ||||||||
Internet - 2.2% | ||||||||
110,857 | CarParts.com Inc.* | 1,811,403 | ||||||
277,234 | ChannelAdvisor Corp.* | 6,578,763 | ||||||
24,712 | Cogent Communications Holdings Inc. | 1,868,227 | ||||||
160,383 | Eventbrite Inc., Class A Shares* | 3,255,775 | ||||||
75,879 | fuboTV Inc.*(a) | 1,801,367 | ||||||
212,411 | HyreCar Inc.*(a) | 3,485,665 | ||||||
93,190 | Liquidity Services Inc.* | 2,228,173 | ||||||
114,295 | Open Lending Corp., Class A Shares* | 4,409,501 | ||||||
124,500 | Perion Network Ltd.* | 2,059,230 | ||||||
11,701 | Revolve Group Inc., Class A Shares* | 648,703 | ||||||
1,447 | Roku Inc., Class A Shares* | 501,689 | ||||||
43,072 | RumbleON Inc., Class B Shares*(a) | 1,740,540 | ||||||
Total Internet | 30,389,036 | |||||||
Media - 0.4% | ||||||||
208,303 | TEGNA Inc. | 4,038,995 | ||||||
Telecommunications - 4.2% | ||||||||
96,169 | Aviat Networks Inc.* | 3,554,406 | ||||||
211,161 | Calix Inc.* | 9,356,544 | ||||||
126,711 | Cambium Networks Corp.* | 7,312,492 | ||||||
47,507 | Clearfield Inc.* | 1,796,715 | ||||||
307,179 | Harmonic Inc.* | 2,141,038 | ||||||
330,200 | Juniper Networks Inc. | 8,694,166 | ||||||
68,900 | Motorola Solutions Inc. | 14,145,859 | ||||||
150,168 | Sierra Wireless Inc.*(a) | 2,336,614 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Small-Mid Cap Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
COMMUNICATIONS - 6.8% - (continued) | ||||||||
Telecommunications - 4.2% - (continued) | ||||||||
265,528 | Viavi Solutions Inc.* | $ | 4,654,706 | |||||
Total Telecommunications | 53,992,540 | |||||||
TOTAL COMMUNICATIONS | 88,420,571 | |||||||
CONSUMER CYCLICAL - 14.4% | ||||||||
Airlines - 1.0% | ||||||||
14,056 | Alaska Air Group Inc.* | 972,675 | ||||||
3,172 | Allegiant Travel Co.* | 702,471 | ||||||
90,684 | Mesa Air Group Inc.* | 881,448 | ||||||
151,848 | Spirit Airlines Inc.* | 5,422,492 | ||||||
88,350 | Sun Country Airlines Holdings Inc.*(a) | 3,286,620 | ||||||
Total Airlines | 11,265,706 | |||||||
Apparel - 1.2% | ||||||||
15,123 | Carter's Inc. | 1,546,175 | ||||||
58,000 | Columbia Sportswear Co. | 5,958,340 | ||||||
12,338 | Crocs Inc.* | 1,249,099 | ||||||
1,588 | Deckers Outdoor Corp.* | 532,679 | ||||||
25,442 | Oxford Industries Inc. | 2,436,071 | ||||||
53,200 | Steven Madden Ltd. | 2,202,480 | ||||||
12,556 | Tapestry Inc.* | 563,639 | ||||||
41,122 | Urban Outfitters Inc.* | 1,610,338 | ||||||
Total Apparel | 16,098,821 | |||||||
Auto Parts & Equipment - 1.7% | ||||||||
13,756 | Dorman Products Inc.* | 1,408,339 | ||||||
34,724 | Fox Factory Holding Corp.* | 5,398,888 | ||||||
6,177 | Gentherm Inc.* | 448,018 | ||||||
105,679 | Goodyear Tire & Rubber Co.* | 2,095,615 | ||||||
135,489 | Modine Manufacturing Co.* | 2,383,251 | ||||||
128,950 | Shyft Group Inc. | 5,026,471 | ||||||
2,096 | Visteon Corp.* | 256,676 | ||||||
70,688 | XPEL Inc.* | 5,796,416 | ||||||
Total Auto Parts & Equipment | 22,813,674 | |||||||
Distribution/Wholesale - 0.2% | ||||||||
16,922 | H&E Equipment Services Inc. | 632,883 | ||||||
41,438 | Titan Machinery Inc.* | 1,271,318 | ||||||
Total Distribution/Wholesale | 1,904,201 | |||||||
Entertainment - 1.6% | ||||||||
113,441 | Bally's Corp.* | 6,582,981 | ||||||
10,182 | Caesars Entertainment Inc.* | 1,094,056 | ||||||
1,916 | Churchill Downs Inc. | 382,299 | ||||||
267,252 | Everi Holdings Inc.* | 5,540,134 | ||||||
69,652 | GAN Ltd.*(a) | 1,204,980 | ||||||
82,607 | NEOGAMES SA*(a) | 5,295,109 | ||||||
11,740 | SeaWorld Entertainment Inc.* | 639,008 | ||||||
11,559 | Six Flags Entertainment Corp.* | 525,125 | ||||||
Total Entertainment | 21,263,692 | |||||||
Home Builders - 0.7% | ||||||||
34,471 | Century Communities Inc.* | 2,805,250 | ||||||
1,710 | LGI Homes Inc.* | 309,185 | ||||||
93,797 | Skyline Champion Corp.* | 4,750,818 | ||||||
8,785 | Winnebago Industries Inc. | 649,739 | ||||||
Total Home Builders | 8,514,992 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Small-Mid Cap Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
CONSUMER CYCLICAL - 14.4% - (continued) | ||||||||
Home Furnishings - 0.7% | ||||||||
92,694 | Lovesac Co.* | $ | 7,695,456 | |||||
26,376 | Vizio Holding Corp., Class A Shares* | 576,052 | ||||||
107,730 | VOXX International Corp., Class A Shares* | 1,620,259 | ||||||
Total Home Furnishings | 9,891,767 | |||||||
Housewares - 0.0% | ||||||||
1,243 | Scotts Miracle-Gro Co. | 270,191 | ||||||
Leisure Time - 1.5% | ||||||||
7,132 | BRP Inc. | 601,442 | ||||||
64,215 | Callaway Golf Co.* | 2,370,818 | ||||||
136,999 | Lindblad Expeditions Holdings Inc.* | 2,331,723 | ||||||
51,051 | Malibu Boats Inc., Class A Shares* | 4,003,419 | ||||||
204,237 | Vista Outdoor Inc.* | 8,902,691 | ||||||
Total Leisure Time | 18,210,093 | |||||||
Lodging - 0.9% | ||||||||
265,567 | Full House Resorts Inc.* | 2,990,284 | ||||||
119,900 | Wyndham Hotels & Resorts Inc. | 8,999,694 | ||||||
Total Lodging | 11,989,978 | |||||||
Retail - 4.7% | ||||||||
69,180 | Abercrombie & Fitch Co., Class A Shares* | 2,953,986 | ||||||
43,800 | Advance Auto Parts Inc. | 8,310,174 | ||||||
89,337 | American Eagle Outfitters Inc. | 3,165,210 | ||||||
142,627 | Aspen Aerogels Inc.* | 2,892,476 | ||||||
57,194 | At Home Group Inc.* | 2,147,063 | ||||||
50,872 | BJ's Restaurants Inc.* | 2,812,204 | ||||||
103,536 | Boot Barn Holdings Inc.* | 7,909,115 | ||||||
3,887 | Brinker International Inc.* | 238,856 | ||||||
43,600 | Darden Restaurants Inc. | 6,244,828 | ||||||
176,381 | Designer Brands Inc., Class A Shares* | 3,084,904 | ||||||
141,600 | Foot Locker Inc. | 8,961,864 | ||||||
2,166 | Freshpet Inc.* | 382,992 | ||||||
156,111 | GrowGeneration Corp.* | 6,932,889 | ||||||
2,637 | Lithia Motors Inc., Class A Shares | 928,198 | ||||||
33,647 | Murphy USA Inc. | 4,535,952 | ||||||
15,799 | Texas Roadhouse Inc., Class A Shares | 1,591,117 | ||||||
Total Retail | 63,091,828 | |||||||
Toys/Games/Hobbies - 0.2% | ||||||||
110,248 | Funko Inc., Class A Shares* | 2,894,010 | ||||||
TOTAL CONSUMER CYCLICAL | 188,208,953 | |||||||
CONSUMER NON-CYCLICAL - 17.7% | ||||||||
Agriculture - 0.2% | ||||||||
72,520 | Turning Point Brands Inc. | 3,101,680 | ||||||
Beverages - 1.1% | ||||||||
140,207 | Celsius Holdings Inc.* | 9,189,167 | ||||||
132,090 | Duckhorn Portfolio Inc.*(a) | 2,401,396 | ||||||
31,851 | MGP Ingredients Inc. | 2,219,696 | ||||||
Total Beverages | 13,810,259 | |||||||
Biotechnology - 3.4% | ||||||||
130,907 | Agrify Corp.*(a) | 1,226,599 | ||||||
43,224 | Apellis Pharmaceuticals Inc.* | 2,432,647 | ||||||
80,686 | Applied Therapeutics Inc.* | 1,551,592 | ||||||
337,020 | Ardelyx Inc.* | 2,409,693 | ||||||
941 | Argenx SE, ADR* | 262,530 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Small-Mid Cap Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
CONSUMER NON-CYCLICAL - 17.7% - (continued) | ||||||||
Biotechnology - 3.4% - (continued) | ||||||||
137,696 | Avid Bioservices Inc.* | $ | 2,930,171 | |||||
73,252 | Biomea Fusion Inc.* | 1,267,992 | ||||||
3,625 | Blueprint Medicines Corp.* | 331,144 | ||||||
52,275 | Celldex Therapeutics Inc.* | 1,461,086 | ||||||
75,289 | Cogent Biosciences Inc.*(a) | 652,003 | ||||||
208,857 | Crinetics Pharmaceuticals Inc.* | 3,665,440 | ||||||
72,574 | Day One Biopharmaceuticals Inc.*(b) | 1,719,278 | ||||||
58,082 | Essa Pharma Inc.* | 1,836,553 | ||||||
126,385 | EyePoint Pharmaceuticals Inc.*(a) | 1,242,365 | ||||||
159,620 | Gamida Cell Ltd.* | 1,035,934 | ||||||
2,190 | Guardant Health Inc.* | 271,823 | ||||||
18,570 | Halozyme Therapeutics Inc.* | 768,984 | ||||||
9,496 | Intra-Cellular Therapies Inc.* | 374,237 | ||||||
12,116 | Maravai LifeSciences Holdings Inc., Class A Shares* | 454,835 | ||||||
1,451 | Mirati Therapeutics Inc.* | 229,476 | ||||||
68,566 | NeoGenomics Inc.* | 2,813,263 | ||||||
8,801 | Olink Holding AB, ADR* | 310,939 | ||||||
156,350 | Relay Therapeutics Inc.* | 5,021,962 | ||||||
108,929 | SpringWorks Therapeutics Inc.* | 8,882,071 | ||||||
76,317 | VectivBio Holding AG* | 1,137,123 | ||||||
89,343 | Xenon Pharmaceuticals Inc.* | 1,650,165 | ||||||
Total Biotechnology | 45,939,905 | |||||||
Commercial Services - 2.1% | ||||||||
7,224 | AMN Healthcare Services Inc.* | 640,769 | ||||||
4,236 | ASGN Inc.* | 436,689 | ||||||
5,125 | Avis Budget Group Inc.* | 450,077 | ||||||
33,438 | Cross Country Healthcare Inc.* | 523,305 | ||||||
86,400 | Global Payments Inc. | 16,736,544 | ||||||
4,538 | Herc Holdings Inc.* | 521,961 | ||||||
52,258 | Huron Consulting Group Inc.* | 2,859,035 | ||||||
58,715 | Kelly Services Inc., Class A Shares* | 1,507,214 | ||||||
60,848 | Korn Ferry | 3,980,068 | ||||||
173,781 | Team Inc.* | 1,477,139 | ||||||
Total Commercial Services | 29,132,801 | |||||||
Cosmetics/Personal Care - 0.2% | ||||||||
209,488 | Beauty Health Co.* | 2,983,109 | ||||||
Food - 2.0% | ||||||||
22,297 | BellRing Brands Inc., Class A Shares* | 639,478 | ||||||
34,877 | Cal-Maine Foods Inc. | 1,217,556 | ||||||
31,476 | Hain Celestial Group Inc.* | 1,282,962 | ||||||
178,652 | Hostess Brands Inc., Class A Shares* | 2,801,263 | ||||||
50,279 | Ingredion Inc. | 4,772,985 | ||||||
30,332 | Laird Superfood Inc.*(a) | 991,250 | ||||||
22,118 | Sanderson Farms Inc. | 3,599,705 | ||||||
359,973 | SunOpta Inc.* | 4,499,663 | ||||||
104,324 | TreeHouse Foods Inc.* | 5,081,622 | ||||||
Total Food | 24,886,484 | |||||||
Healthcare-Products - 5.5% | ||||||||
261,373 | Alphatec Holdings Inc.* | 3,789,908 | ||||||
7,620 | AtriCure Inc.* | 569,443 | ||||||
51,767 | Axogen Inc.* | 1,050,870 | ||||||
63,130 | Axonics Inc.* | 3,641,970 | ||||||
60,244 | Castle Biosciences Inc.* | 3,610,423 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Small-Mid Cap Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
CONSUMER NON-CYCLICAL - 17.7% - (continued) | ||||||||
Healthcare-Products - 5.5% - (continued) | ||||||||
98,012 | Envista Holdings Corp.* | $ | 4,277,244 | |||||
3,029 | Inari Medical Inc.* | 263,372 | ||||||
22,235 | Inspire Medical Systems Inc.* | 4,320,260 | ||||||
45,043 | Integra LifeSciences Holdings Corp.* | 3,110,219 | ||||||
70,786 | Natera Inc.* | 6,663,794 | ||||||
34,522 | NuVasive Inc.* | 2,354,400 | ||||||
104,800 | PerkinElmer Inc. | 15,203,336 | ||||||
39,605 | Quanterix Corp.* | 2,039,261 | ||||||
1,490 | Repligen Corp.* | 272,089 | ||||||
157,816 | SeaSpine Holdings Corp.* | 3,216,290 | ||||||
3,251 | Shockwave Medical Inc.* | 584,855 | ||||||
249,795 | Sientra Inc.* | 1,738,573 | ||||||
43,206 | Treace Medical Concepts Inc.*(a) | 1,402,035 | ||||||
78,200 | Zimmer Biomet Holdings Inc. | 13,163,406 | ||||||
Total Healthcare-Products | 71,271,748 | |||||||
Healthcare-Services - 1.3% | ||||||||
29,500 | Humana Inc. | 12,912,150 | ||||||
11,112 | Invitae Corp.* | 319,803 | ||||||
2,548 | Medpace Holdings Inc.* | 425,669 | ||||||
107,914 | SI-BONE Inc.* | 3,255,765 | ||||||
Total Healthcare-Services | 16,913,387 | |||||||
Household Products/Wares - 0.1% | ||||||||
19,735 | Spectrum Brands Holdings Inc. | 1,754,244 | ||||||
Pharmaceuticals - 1.8% | ||||||||
70,665 | Centessa Pharmaceuticals PLC* | 1,536,964 | ||||||
245,078 | Cytokinetics Inc.* | 5,350,053 | ||||||
104,308 | Fulcrum Therapeutics Inc.* | 931,470 | ||||||
46,614 | Intellia Therapeutics Inc.* | 3,493,253 | ||||||
91,336 | Merus NV* | 1,931,756 | ||||||
60,056 | Mirum Pharmaceuticals Inc.* | 993,326 | ||||||
24,528 | Morphic Holding Inc.* | 1,210,702 | ||||||
76,643 | Prestige Consumer Healthcare Inc.* | 3,822,186 | ||||||
300,452 | ProQR Therapeutics NV* | 1,874,820 | ||||||
34,495 | Revance Therapeutics Inc.* | 1,021,397 | ||||||
Total Pharmaceuticals | 22,165,927 | |||||||
TOTAL CONSUMER NON-CYCLICAL | 231,959,544 | |||||||
DIVERSIFIED - 0.2% | ||||||||
SPACs - 0.2% | ||||||||
196,483 | CM Life Sciences III Inc.* | 2,096,474 | ||||||
14,875 | CM Life Sciences Inc., Class A Shares*(a) | 188,317 | ||||||
Total SPACs | 2,284,791 | |||||||
TOTAL DIVERSIFIED | 2,284,791 | |||||||
ENERGY - 3.3% | ||||||||
Energy-Alternate Sources - 0.4% | ||||||||
159,469 | Green Plains Inc.* | 5,085,466 | ||||||
Oil & Gas - 2.1% | ||||||||
108,735 | Bonanza Creek Energy Inc.* | 4,671,256 | ||||||
6,555 | Cimarex Energy Co. | 444,101 | ||||||
115,200 | EOG Resources Inc. | 9,255,168 | ||||||
65,267 | Helmerich & Payne Inc. | 1,843,793 | ||||||
44,349 | Magnolia Oil & Gas Corp., Class A Shares* | 572,989 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Small-Mid Cap Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
ENERGY - 3.3% - (continued) | ||||||||
Oil & Gas - 2.1% - (continued) | ||||||||
216,101 | Matador Resources Co. | $ | 6,621,335 | |||||
78,238 | PDC Energy Inc.* | 3,303,208 | ||||||
Total Oil & Gas | 26,711,850 | |||||||
Oil & Gas Services - 0.8% | ||||||||
273,600 | Baker Hughes Co., Class A Shares | 6,675,840 | ||||||
56,121 | DMC Global Inc.* | 2,972,729 | ||||||
87,433 | Select Energy Services Inc., Class A Shares* | 496,620 | ||||||
69,580 | US Silica Holdings Inc.* | 713,891 | ||||||
Total Oil & Gas Services | 10,859,080 | |||||||
TOTAL ENERGY | 42,656,396 | |||||||
FINANCIAL - 15.7% | ||||||||
Banks - 6.4% | ||||||||
129,814 | Bank of NT Butterfield & Son Ltd. | 4,951,106 | ||||||
145,495 | BankUnited Inc. | 6,953,206 | ||||||
4,450 | First Citizens BancShares Inc., Class A Shares | 3,829,670 | ||||||
428,961 | FNB Corp. | 5,752,367 | ||||||
80,635 | Live Oak Bancshares Inc. | 4,884,868 | ||||||
75,120 | Meta Financial Group Inc. | 3,982,111 | ||||||
226,927 | PacWest Bancorp | 10,250,293 | ||||||
79,564 | Pinnacle Financial Partners Inc. | 7,233,959 | ||||||
42,200 | Signature Bank | 10,539,450 | ||||||
33,458 | Silvergate Capital Corp., Class A Shares* | 3,727,221 | ||||||
67,193 | Triumph Bancorp Inc.* | 5,627,414 | ||||||
267,594 | Umpqua Holdings Corp. | 5,105,693 | ||||||
98,761 | Univest Financial Corp. | 2,879,871 | ||||||
74,984 | Western Alliance Bancorp | 7,499,150 | ||||||
Total Banks | 83,216,379 | |||||||
Diversified Financial Services - 1.9% | ||||||||
89,307 | Cowen Inc., Class A Shares | 3,512,444 | ||||||
63,600 | Raymond James Financial Inc. | 8,432,724 | ||||||
265,300 | Synchrony Financial | 12,577,873 | ||||||
Total Diversified Financial Services | 24,523,041 | |||||||
Equity Real Estate Investment Trusts (REITs) - 2.5% | ||||||||
59,080 | American Campus Communities Inc. | 2,786,213 | ||||||
134,200 | Americold Realty Trust | 5,102,284 | ||||||
327,481 | Chimera Investment Corp. | 4,627,306 | ||||||
152,009 | Columbia Property Trust Inc. | 2,658,637 | ||||||
68,640 | Corporate Office Properties Trust | 1,894,464 | ||||||
88,836 | Dynex Capital Inc. | 1,736,744 | ||||||
148,098 | Lexington Realty Trust | 1,833,453 | ||||||
45,800 | SBA Communications Corp., Class A Shares | 13,653,896 | ||||||
Total Equity Real Estate Investment Trusts (REITs) | 34,292,997 | |||||||
Insurance - 3.6% | ||||||||
139,000 | American International Group Inc. | 7,344,760 | ||||||
43,000 | Arthur J Gallagher & Co. | 6,304,230 | ||||||
83,598 | BRP Group Inc., Class A Shares* | 2,054,839 | ||||||
13,285 | Goosehead Insurance Inc., Class A Shares | 1,193,923 | ||||||
33,974 | Hanover Insurance Group Inc. | 4,739,033 | ||||||
100,000 | Hartford Financial Services Group Inc. | 6,535,000 | ||||||
30,160 | Kemper Corp. | 2,258,079 | ||||||
366,672 | MGIC Investment Corp. | 5,397,412 | ||||||
17,726 | Midwest Holding Inc.* | 736,338 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Small-Mid Cap Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
FINANCIAL - 15.7% - (continued) | ||||||||
Insurance - 3.6% - (continued) | ||||||||
12,561 | NMI Holdings Inc., Class A Shares* | $ | 303,851 | |||||
132,397 | Trean Insurance Group Inc.* | 2,224,270 | ||||||
73,000 | WR Berkley Corp. | 5,693,270 | ||||||
Total Insurance | 44,785,005 | |||||||
Investment Companies - 0.2% | ||||||||
132,657 | Grid Dynamics Holdings Inc.* | 2,038,938 | ||||||
Private Equity - 0.3% | ||||||||
254,123 | Hercules Capital Inc. | 4,315,009 | ||||||
Real Estate - 0.3% | ||||||||
352,077 | Newmark Group Inc., Class A Shares | 4,541,793 | ||||||
Savings & Loans - 0.5% | ||||||||
265,230 | Sterling Bancorp | 7,065,727 | ||||||
TOTAL FINANCIAL | 204,778,889 | |||||||
INDUSTRIAL - 16.2% | ||||||||
Aerospace/Defense - 1.0% | ||||||||
2,721 | AeroVironment Inc.* | 298,303 | ||||||
366,745 | Embraer SA, ADR* | 4,910,716 | ||||||
47,781 | Hexcel Corp.* | 2,841,058 | ||||||
25,800 | L3Harris Technologies Inc. | 5,625,948 | ||||||
Total Aerospace/Defense | 13,676,025 | |||||||
Building Materials - 0.6% | ||||||||
35,694 | Masonite International Corp.* | 4,267,218 | ||||||
28,563 | Patrick Industries Inc. | 2,447,849 | ||||||
24,779 | Summit Materials Inc., Class A Shares* | 862,805 | ||||||
4,205 | Trex Co., Inc.* | 409,609 | ||||||
Total Building Materials | 7,987,481 | |||||||
Electrical Components & Equipment - 0.4% | ||||||||
54,468 | Belden Inc. | 2,756,081 | ||||||
32,687 | Energizer Holdings Inc. | 1,504,910 | ||||||
1,913 | Generac Holdings Inc.* | 628,841 | ||||||
Total Electrical Components & Equipment | 4,889,832 | |||||||
Electronics - 2.9% | ||||||||
89,600 | Agilent Technologies Inc. | 12,376,448 | ||||||
81,856 | Camtek Ltd.* | 2,985,288 | ||||||
71,800 | Fortive Corp. | 5,206,936 | ||||||
29,500 | Hubbell Inc., Class B Shares | 5,623,880 | ||||||
31,367 | Vicor Corp.* | 2,825,539 | ||||||
75,700 | Woodward Inc. | 9,627,526 | ||||||
Total Electronics | 38,645,617 | |||||||
Engineering & Construction - 0.3% | ||||||||
17,515 | EMCOR Group Inc. | 2,208,817 | ||||||
2,928 | Exponent Inc. | 267,122 | ||||||
13,931 | Latham Group Inc.* | 432,697 | ||||||
17,967 | NV5 Global Inc.* | 1,640,926 | ||||||
Total Engineering & Construction | 4,549,562 | |||||||
Environmental Control - 0.9% | ||||||||
49,597 | Clean Harbors Inc.* | 4,617,481 | ||||||
114,528 | Harsco Corp.* | 2,567,718 | ||||||
86,699 | Montrose Environmental Group Inc.* | 4,347,088 | ||||||
Total Environmental Control | 11,532,287 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Small-Mid Cap Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
INDUSTRIAL - 16.2% - (continued) | ||||||||
Hand/Machine Tools - 0.8% | ||||||||
38,634 | Regal Beloit Corp. | $ | 5,494,914 | |||||
25,700 | Stanley Black & Decker Inc. | 5,571,760 | ||||||
Total Hand/Machine Tools | 11,066,674 | |||||||
Machinery-Construction & Mining - 1.6% | ||||||||
54,410 | BWX Technologies Inc. | 3,402,801 | ||||||
117,653 | Terex Corp. | 6,161,488 | ||||||
399,200 | Vertiv Holdings Co., Class A Shares | 9,908,144 | ||||||
Total Machinery-Construction & Mining | 19,472,433 | |||||||
Machinery-Diversified - 3.4% | ||||||||
67,016 | Altra Industrial Motion Corp. | 4,402,281 | ||||||
108,501 | Cactus Inc., Class A Shares | 3,801,875 | ||||||
31,570 | Chart Industries Inc.* | 4,607,326 | ||||||
50,000 | CIRCOR International Inc.* | 1,881,500 | ||||||
41,914 | Gates Industrial Corp. PLC* | 761,158 | ||||||
22,232 | GrafTech International Ltd. | 295,241 | ||||||
72,184 | Hydrofarm Holdings Group Inc.* | 4,496,341 | ||||||
6,104 | Kornit Digital Ltd.* | 636,037 | ||||||
43,000 | Nordson Corp. | 9,532,670 | ||||||
74,553 | Ranpak Holdings Corp., Class A Shares* | 1,646,130 | ||||||
38,800 | Rockwell Automation Inc. | 10,232,336 | ||||||
42,516 | SPX FLOW Inc. | 2,917,873 | ||||||
Total Machinery-Diversified | 45,210,768 | |||||||
Metal Fabricate/Hardware - 1.0% | ||||||||
3,775 | Advanced Drainage Systems Inc. | 428,161 | ||||||
210,988 | Rexnord Corp. | 10,543,070 | ||||||
32,197 | Standex International Corp. | 3,208,109 | ||||||
Total Metal Fabricate/Hardware | 14,179,340 | |||||||
Miscellaneous Manufacturers - 1.8% | ||||||||
1,568 | Axon Enterprise Inc.* | 220,445 | ||||||
73,233 | Enerpac Tool Group Corp., Class A Shares | 2,006,584 | ||||||
32,591 | EnPro Industries Inc. | 2,998,046 | ||||||
31,735 | Hillenbrand Inc. | 1,447,116 | ||||||
54,189 | ITT Inc. | 5,088,347 | ||||||
1,533 | John Bean Technologies Corp. | 220,798 | ||||||
38,000 | Parker-Hannifin Corp. | 11,709,700 | ||||||
Total Miscellaneous Manufacturers | 23,691,036 | |||||||
Packaging & Containers - 0.7% | ||||||||
111,268 | Karat Packaging Inc.* | 2,114,092 | ||||||
180,093 | O-I Glass Inc.* | 3,319,114 | ||||||
45,734 | Silgan Holdings Inc. | 1,926,773 | ||||||
Total Packaging & Containers | 7,359,979 | |||||||
Transportation - 0.8% | ||||||||
83,076 | CryoPort Inc.* | 4,645,610 | ||||||
1,438 | Saia Inc.* | 330,970 | ||||||
242,537 | Star Bulk Carriers Corp.(a) | 4,731,897 | ||||||
7,103 | ZIM Integrated Shipping Services Ltd.* | 329,579 | ||||||
Total Transportation | 10,038,056 | |||||||
TOTAL INDUSTRIAL | 212,299,090 | |||||||
TECHNOLOGY - 11.0% | ||||||||
Computers - 0.8% | ||||||||
12,356 | CACI International Inc., Class A Shares* | 3,150,286 | ||||||
46,475 | Endava PLC, ADR* | 4,767,405 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Small-Mid Cap Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
TECHNOLOGY - 11.0% - (continued) | ||||||||
Computers - 0.8% - (continued) | ||||||||
28,065 | ExlService Holdings Inc.* | $ | 2,862,069 | |||||
1,777 | Zscaler Inc.* | 345,093 | ||||||
Total Computers | 11,124,853 | |||||||
Semiconductors - 6.7% | ||||||||
5,728 | Ambarella Inc.* | 574,977 | ||||||
105,121 | Axcelis Technologies Inc.* | 4,356,214 | ||||||
96,294 | AXT Inc.* | 980,273 | ||||||
63,107 | Cohu Inc.* | 2,348,843 | ||||||
61,333 | FormFactor Inc.* | 2,161,988 | ||||||
52,766 | Impinj Inc.* | 2,746,470 | ||||||
48,200 | KLA Corp. | 15,274,098 | ||||||
7,755 | Lattice Semiconductor Corp.* | 411,558 | ||||||
37,049 | MACOM Technology Solutions Holdings Inc.* | 2,193,301 | ||||||
334,900 | Marvell Technology Inc. | 16,175,670 | ||||||
99,700 | NXP Semiconductors NV | 21,078,574 | ||||||
48,504 | SiTime Corp.* | 4,769,398 | ||||||
118,774 | SkyWater Technology Inc.* | 3,092,875 | ||||||
5,504 | Synaptics Inc.* | 695,320 | ||||||
180,572 | Ultra Clean Holdings Inc.* | 10,171,621 | ||||||
Total Semiconductors | 87,031,180 | |||||||
Software - 3.5% | ||||||||
10,894 | ACV Auctions Inc., Class A Shares* | 282,372 | ||||||
187,451 | Avaya Holdings Corp.* | 5,376,095 | ||||||
22,405 | Cardlytics Inc.* | 2,387,253 | ||||||
110,300 | Citrix Systems Inc. | 12,680,088 | ||||||
19,733 | Digital Turbine Inc.* | 1,305,733 | ||||||
82,210 | Docebo Inc.* | 4,260,122 | ||||||
3,249 | Five9 Inc.* | 575,398 | ||||||
53,600 | Jack Henry & Associates Inc. | 8,262,440 | ||||||
46,575 | Motorsport Games Inc., Class A Shares*(a) | 756,378 | ||||||
46,667 | Phreesia Inc.* | 2,310,017 | ||||||
83,085 | PubMatic Inc., Class A Shares*(a) | 2,456,823 | ||||||
154,872 | Rackspace Technology Inc.*(a) | 3,125,317 | ||||||
8,084 | Sprout Social Inc., Class A Shares* | 561,191 | ||||||
17,323 | Teradata Corp.* | 829,252 | ||||||
Total Software | 45,168,479 | |||||||
TOTAL TECHNOLOGY | 143,324,512 | |||||||
UTILITIES - 3.3% | ||||||||
Electric - 3.1% | ||||||||
81,500 | Ameren Corp. | 6,862,300 | ||||||
41,449 | Black Hills Corp. | 2,726,930 | ||||||
107,900 | CMS Energy Corp. | 6,769,646 | ||||||
81,000 | Eversource Energy | 6,576,390 | ||||||
12,180 | Evoqua Water Technologies Corp.* | 379,042 | ||||||
33,359 | IDACORP Inc. | 3,267,514 | ||||||
163,001 | Portland General Electric Co. | 7,814,268 | ||||||
49,800 | Sempra Energy | 6,747,402 | ||||||
Total Electric | 41,143,492 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Small-Mid Cap Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
UTILITIES - 3.3% - (continued) | ||||||||
Gas - 0.2% | ||||||||
30,140 | Spire Inc. | $ | 2,159,832 | |||||
TOTAL UTILITIES | 43,303,324 | |||||||
TOTAL COMMON STOCKS | ||||||||
(Cost - $920,728,619) | 1,234,274,835 | |||||||
EXCHANGE TRADED FUNDS (ETFs) - 3.8% | ||||||||
160,784 | iShares Russell 2000(a) | 36,256,792 | ||||||
178,289 | iShares Russell Mid-Capital | 13,965,377 | ||||||
TOTAL EXCHANGE TRADED FUNDS (ETFs) | ||||||||
(Cost - $40,988,803) | 50,222,169 | |||||||
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS | ||||||||
(Cost - $961,717,422) | 1,284,497,004 |
Face Amount | ||||||||
SHORT-TERM INVESTMENTS - 2.0% | ||||||||
TIME DEPOSITS - 2.0% | ||||||||
$ | 602,890 | ANZ National Bank - London, 0.005% due 6/1/21 | 602,890 | |||||
11,184,009 | BNP Paribas - Paris, 0.005% due 6/1/21 | 11,184,009 | ||||||
11,699,873 | DnB NORBank ASA - Oslo, 0.005% due 6/1/21 | 11,699,873 | ||||||
2,879,276 | Skandinaviska Enskilda Banken AB - Stockholm, 0.005% due 6/1/21 | 2,879,276 | ||||||
TOTAL TIME DEPOSITS | ||||||||
(Cost - $26,366,048) | 26,366,048 |
Shares/Units | ||||||||
INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING - 3.1% | ||||||||
MONEY MARKET FUND - 3.1% | ||||||||
40,509,138 | Federated Government Obligations Fund, Premier Class, 0.025%(c) | |||||||
(Cost - $40,509,138) | $ | 40,509,138 | ||||||
TOTAL INVESTMENTS - 103.4% | ||||||||
(Cost - $1,028,592,608) | 1,351,372,190 | |||||||
Liabilities in Excess of Other Assets - (3.4)% | (44,105,821 | ) | ||||||
TOTAL NET ASSETS - 100.0% | $ | 1,307,266,369 |
# | May 28, 2021 represents the last business day of the Fund’s fiscal first quarter. | |
* | Non-income producing security. | |
(a) | All or a portion of this security is on loan. | |
(b) | Illiquid security. The aggregate value of illiquid holdings at May 28, 2021, amounts to approximately $1,719,278 and represents 0.13% of net assets. | |
(c) | Represents investment of collateral received from securities lending transactions. |
Abbreviations used in this schedule: | ||
ADR | — | American Depositary Receipts |
PLC | — | Public Limited Company |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Small-Mid Cap Equity Fund (concluded)
Summary of Investments by Security Sector^ | ||||
Consumer Non-cyclical | 17.2 | % | ||
Industrial | 15.7 | |||
Financial | 15.1 | |||
Consumer Cyclical | 13.9 | |||
Technology | 10.6 | |||
Communications | 6.5 | |||
Basic Materials | 5.7 | |||
Utilities | 3.2 | |||
Energy | 3.2 | |||
Diversified | 0.2 | |||
Exchange Traded Funds (ETFs) | 3.7 | |||
Short-Term Investments | 2.0 | |||
Money Market Fund | 3.0 | |||
100.0 | % |
____________________________
^ As a percentage of total investments.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Equity Income Fund
Shares/Units | Security | Value | ||||||
COMMON STOCKS - 88.4% | ||||||||
BASIC MATERIALS - 2.0% | ||||||||
Chemicals - 1.5% | ||||||||
12,268 | Air Liquide SA | $ | 2,087,933 | |||||
27,161 | DuPont de Nemours Inc. | 2,297,549 | ||||||
39,730 | Nutrien Ltd. | 2,471,979 | ||||||
Total Chemicals | 6,857,461 | |||||||
Mining - 0.5% | ||||||||
68,299 | BHP Group PLC | 2,057,823 | ||||||
TOTAL BASIC MATERIALS | 8,915,284 | |||||||
COMMUNICATIONS - 12.0% | ||||||||
Advertising - 0.5% | ||||||||
130,300 | Hakuhodo DY Holdings Inc. | 2,229,105 | ||||||
Media - 0.7% | ||||||||
55,932 | Comcast Corp., Class A Shares | 3,207,141 | ||||||
Telecommunications - 10.8% | ||||||||
267,947 | AT&T Inc. | 7,885,680 | ||||||
183,850 | BCE Inc. | 9,144,539 | ||||||
149,918 | Cisco Systems Inc. | 7,930,662 | ||||||
102,755 | SK Telecom Co., Ltd., ADR | 3,292,270 | ||||||
158,726 | Verizon Communications Inc. | 8,966,432 | ||||||
5,455,268 | Vodafone Group PLC | 9,933,135 | ||||||
Total Telecommunications | 47,152,718 | |||||||
TOTAL COMMUNICATIONS | 52,588,964 | |||||||
CONSUMER CYCLICAL - 5.6% | ||||||||
Auto Manufacturers - 0.6% | ||||||||
41,801 | General Motors Co.* | 2,479,217 | ||||||
Distribution/Wholesale - 0.8% | ||||||||
147,200 | Mitsui & Co., Ltd. | 3,274,759 | ||||||
Home Builders - 0.9% | ||||||||
37,998 | PulteGroup Inc. | 2,195,904 | ||||||
804,995 | Taylor Wimpey PLC | 1,958,157 | ||||||
Total Home Builders | 4,154,061 | |||||||
Retail - 2.5% | ||||||||
15,830 | Darden Restaurants Inc. | 2,267,331 | ||||||
60,835 | Industria de Diseno Textil SA | 2,368,090 | ||||||
9,749 | Lowe's Cos., Inc. | 1,899,398 | ||||||
1,599,010 | Topsports International Holdings Ltd. | 2,476,546 | ||||||
14,463 | Walmart Inc. | 2,054,180 | ||||||
Total Retail | 11,065,545 | |||||||
Toys/Games/Hobbies - 0.8% | ||||||||
5,665 | Nintendo Co., Ltd. | 3,505,714 | ||||||
TOTAL CONSUMER CYCLICAL | 24,479,296 | |||||||
CONSUMER NON-CYCLICAL - 24.8% | ||||||||
Agriculture - 5.2% | ||||||||
238,170 | British American Tobacco PLC | 9,170,235 | ||||||
141,168 | Philip Morris International Inc. | 13,612,830 | ||||||
Total Agriculture | 22,783,065 | |||||||
Beverages - 1.7% | ||||||||
50,786 | Coca-Cola Co. | 2,807,958 | ||||||
33,510 | PepsiCo Inc. | 4,957,469 | ||||||
Total Beverages | 7,765,427 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Equity Income Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
CONSUMER NON-CYCLICAL - 24.8% - (continued) | ||||||||
Biotechnology - 2.4% | ||||||||
8,300 | Amgen Inc. | $ | 1,974,902 | |||||
125,500 | Gilead Sciences Inc. | 8,296,805 | ||||||
Total Biotechnology | 10,271,707 | |||||||
Cosmetics/Personal Care - 1.9% | ||||||||
140,843 | Unilever PLC | 8,448,114 | ||||||
Food - 2.0% | ||||||||
57,550 | General Mills Inc. | 3,617,593 | ||||||
72,300 | Seven & i Holdings Co., Ltd. | 3,191,903 | ||||||
1,018,000 | Tingyi Cayman Islands Holding Corp. | 1,936,087 | ||||||
Total Food | 8,745,583 | |||||||
Healthcare-Products - 0.7% | ||||||||
25,007 | Medtronic PLC | 3,165,636 | ||||||
Healthcare-Services - 1.5% | ||||||||
9,689 | Anthem Inc. | 3,858,354 | ||||||
31,769 | Fresenius Medical Care AG & Co. KGaA | 2,548,468 | ||||||
Total Healthcare-Services | 6,406,822 | |||||||
Household Products/Wares - 0.7% | ||||||||
23,750 | Kimberly-Clark Corp. | 3,102,462 | ||||||
Pharmaceuticals - 8.7% | ||||||||
100,201 | AbbVie Inc. | 11,342,753 | ||||||
20,472 | AstraZeneca PLC | 2,337,674 | ||||||
32,258 | Bristol-Myers Squibb Co. | 2,119,996 | ||||||
180,798 | GlaxoSmithKline PLC | 3,449,063 | ||||||
91,835 | Merck & Co., Inc. | 6,969,358 | ||||||
273,250 | Pfizer Inc. | 10,582,972 | ||||||
12,580 | Sanofi | 1,349,422 | ||||||
Total Pharmaceuticals | 38,151,238 | |||||||
TOTAL CONSUMER NON-CYCLICAL | 108,840,054 | |||||||
ENERGY - 9.8% | ||||||||
Oil & Gas - 5.9% | ||||||||
134,943 | Chevron Corp. | 14,005,734 | ||||||
198,420 | Exxon Mobil Corp. | 11,581,775 | ||||||
Total Oil & Gas | 25,587,509 | |||||||
Pipelines - 3.9% | ||||||||
242,100 | Enbridge Inc. | 9,317,091 | ||||||
152,737 | Enterprise Products Partners LP | 3,606,120 | ||||||
86,350 | TC Energy Corp. | 4,412,968 | ||||||
Total Pipelines | 17,336,179 | |||||||
TOTAL ENERGY | 42,923,688 | |||||||
FINANCIAL - 14.1% | ||||||||
Banks - 10.0% | ||||||||
277,934 | Bank Leumi Le-Israel BM* | 2,230,145 | ||||||
53,252 | Bank of America Corp. | 2,257,352 | ||||||
80,025 | Canadian Imperial Bank of Commerce | 9,441,293 | ||||||
54,486 | Citigroup Inc. | 4,288,593 | ||||||
201,075 | ING Groep NV | 2,799,328 | ||||||
23,229 | JPMorgan Chase & Co. | 3,815,131 | ||||||
288,675 | KeyCorp | 6,651,072 | ||||||
128,250 | Nordea Bank Abp | 1,390,091 | ||||||
279,852 | Oversea-Chinese Banking Corp., Ltd. | 2,645,204 | ||||||
98,252 | Regions Financial Corp. | 2,300,079 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Equity Income Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
FINANCIAL - 14.1% - (continued) | ||||||||
Banks - 10.0% - (continued) | ||||||||
62,935 | Truist Financial Corp. | $ | 3,888,124 | |||||
41,398 | US Bancorp | 2,516,170 | ||||||
Total Banks | 44,222,582 | |||||||
Diversified Financial Services - 1.0% | ||||||||
10,799 | Deutsche Boerse AG | 1,766,672 | ||||||
101,963 | Western Union Co. | 2,495,035 | ||||||
Total Diversified Financial Services | 4,261,707 | |||||||
Equity Real Estate Investment Trusts (REITs) - 0.6% | ||||||||
53,170 | National Retail Properties Inc. | 2,464,430 | ||||||
Insurance - 2.5% | ||||||||
48,839 | Ageas SA/NV | 3,163,783 | ||||||
9,270 | Allianz SE, Class Registered Shares | 2,461,613 | ||||||
9,353 | Everest Re Group Ltd. | 2,431,406 | ||||||
6,768 | Zurich Insurance Group AG | 2,849,407 | ||||||
Total Insurance | 10,906,209 | |||||||
TOTAL FINANCIAL | 61,854,928 | |||||||
INDUSTRIAL - 4.5% | ||||||||
Aerospace/Defense - 1.0% | ||||||||
143,520 | BAE Systems PLC | 1,072,598 | ||||||
16,635 | General Dynamics Corp. | 3,159,153 | ||||||
Total Aerospace/Defense | 4,231,751 | |||||||
Engineering & Construction - 0.4% | ||||||||
46,678 | Bouygues SA | 1,900,686 | ||||||
Miscellaneous Manufacturers - 2.0% | ||||||||
17,475 | 3M Co. | 3,548,124 | ||||||
14,168 | Eaton Corp. PLC | 2,057,902 | ||||||
17,411 | Siemens AG, Class Registered Shares | 2,864,293 | ||||||
Total Miscellaneous Manufacturers | 8,470,319 | |||||||
Transportation - 1.1% | ||||||||
73,597 | Deutsche Post AG, Class Registered Shares | 5,003,648 | ||||||
TOTAL INDUSTRIAL | 19,606,404 | |||||||
TECHNOLOGY - 5.0% | ||||||||
Computers - 1.0% | ||||||||
32,400 | International Business Machines Corp. | 4,657,176 | ||||||
Semiconductors - 2.4% | ||||||||
7,485 | Broadcom Inc. | 3,535,390 | ||||||
42,591 | Infineon Technologies AG | 1,725,178 | ||||||
30,857 | Intel Corp. | 1,762,552 | ||||||
52,936 | Samsung Electronics Co., Ltd. | 3,430,907 | ||||||
Total Semiconductors | 10,454,027 | |||||||
Software - 1.6% | ||||||||
13,919 | Microsoft Corp. | 3,475,296 | ||||||
43,990 | Oracle Corp. | 3,463,773 | ||||||
Total Software | 6,939,069 | |||||||
TOTAL TECHNOLOGY | 22,050,272 | |||||||
UTILITIES - 10.6% | ||||||||
Electric - 10.6% | ||||||||
37,730 | American Electric Power Co., Inc. | 3,244,780 | ||||||
68,525 | Dominion Energy Inc. | 5,217,493 | ||||||
82,380 | Duke Energy Corp. | 8,256,124 | ||||||
69,977 | Evergy Inc. | 4,337,874 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Equity Income Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
UTILITIES - 10.6% - (continued) | ||||||||
Electric - 10.6% - (continued) | ||||||||
607,399 | National Grid PLC | $ | 8,096,098 | |||||
197,550 | PPL Corp. | 5,750,681 | ||||||
43,225 | Public Service Enterprise Group Inc. | 2,685,137 | ||||||
140,160 | Southern Co. | 8,959,027 | ||||||
Total Electric | 46,547,214 | |||||||
TOTAL UTILITIES | 46,547,214 | |||||||
TOTAL COMMON STOCKS | ||||||||
(Cost - $321,593,472) | 387,806,104 | |||||||
EXCHANGE TRADED FUNDS (ETFs) - 8.6% | ||||||||
644,572 | iShares Core Dividend Growth(b) | 32,757,149 | ||||||
51,729 | iShares Core High Dividend(b) | 5,074,615 | ||||||
TOTAL EXCHANGE TRADED FUNDS (ETFs) | ||||||||
(Cost - $26,445,002) | 37,831,764 | |||||||
CONVERTIBLE PREFERRED STOCKS - 1.1% | ||||||||
CONSUMER NON-CYCLICAL - 0.4% | ||||||||
Healthcare-Products - 0.4% | ||||||||
16,270 | Avantor Inc., 6.250% | 1,621,468 | ||||||
TECHNOLOGY - 0.7% | ||||||||
Semiconductors - 0.7% | ||||||||
2,170 | Broadcom Inc., 8.000% | 3,300,310 | ||||||
TOTAL CONVERTIBLE PREFERRED STOCKS | ||||||||
(Cost - $3,741,476) | 4,921,778 | |||||||
EQUITY LINKED NOTE – 0.2% | ||||||||
FINANCIAL – 0.2% | ||||||||
Diversified Financial Services – 0.2% | ||||||||
$ | 18,400 | Merrill Lynch International & Co. CV*(a)(c)(d) | ||||||
(Cost - $727,238) | 847,637 | |||||||
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS | ||||||||
(Cost - $352,507,188) | 431,407,283 |
Face Amount† | ||||||||
SHORT-TERM INVESTMENTS - 0.6% | ||||||||
TIME DEPOSITS - 0.6% | ||||||||
9,725 | EUR | BNP Paribas - Paris, (0.780)% due 5/31/21 | 11,860 | |||||
$ | 188,775 | DnB NORBank ASA - Oslo, 0.005% due 6/1/21 | 188,775 | |||||
$ | 2,310,176 | Skandinaviska Enskilda Banken AB - Stockholm, 0.005% due 6/1/21 | 2,310,176 | |||||
3,139,866 | JPY | Sumitomo Mitsui Banking Corp. - Tokyo, (0.310)% due 5/31/21 | 28,587 | |||||
TOTAL TIME DEPOSITS | ||||||||
(Cost - $2,539,398) | 2,539,398 | |||||||
TOTAL SHORT-TERM INVESTMENTS | ||||||||
(Cost - $2,539,398) | 2,539,398 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Equity Income Fund (concluded)
Shares/Units | Security | Value | ||||||
INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING - 0.5% | ||||||||
MONEY MARKET FUND - 0.5% | ||||||||
2,094,168 | Federated Government Obligations Fund, Premier Class, 0.025%(e) | |||||||
(Cost - $2,094,168) | $ | 2,094,168 | ||||||
TOTAL INVESTMENTS - 99.4% | ||||||||
(Cost - $357,140,754) | 436,040,849 | |||||||
Other Assets in Excess of Liabilities - 0.6% | 2,589,730 | |||||||
TOTAL NET ASSETS - 100.0% | $ | 438,630,579 |
# | May 28, 2021 represents the last business day of the Fund’s fiscal first quarter. |
† | Face amount denominated in U.S. dollars, unless otherwise noted. |
* | Non-income producing security. |
(a) | Restricted security that may be sold to “qualified institutional buyers” pursuant to the conditions of Rule 144A under the Securities Act of 1933, as amended. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees, unless otherwise noted. The aggregate value of restricted 144A holdings at May 28, 2021, amounts to approximately $847,637 and represents 0.19% of net assets. |
(b) | All or a portion of this security is on loan. |
(c) | Illiquid security. The aggregate value of illiquid holdings at May 28, 2021, amounts to approximately $847,637 and represents 0.19% of net assets. |
(d) | Security is valued in good faith at fair value by or under the direction of the Board of Trustees using significant unobservable inputs. |
(e) | Represents investment of collateral received from securities lending transactions. |
Abbreviations used in this schedule: | ||
ADR | — | American Depositary Receipts |
LP | — | Limited Partnership |
PLC | — | Public Limited Company |
Summary of Investments by Security Sector^ | ||||
Consumer Non-cyclical | 25.3 | % | ||
Financial | 14.2 | |||
Communications | 12.1 | |||
Utilities | 10.7 | |||
Energy | 9.8 | |||
Technology | 5.8 | |||
Consumer Cyclical | 5.6 | |||
Industrial | 4.5 | |||
Basic Materials | 2.0 | |||
Exchange Traded Funds (ETFs) | 8.7 | |||
Short-Term Investments | 0.8 | |||
Money Market Fund | 0.5 | |||
100.0 | % |
^ As a percentage of total investments.
Currency Abbreviations used in this schedule: | ||
EUR | — | Euro |
JPY | — | Japanese Yen |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations International Equity Fund
Shares/Units | Security | Value | ||||||
COMMON STOCKS - 92.1% | ||||||||
Australia - 0.5% | ||||||||
773,452 | Elmo Software Ltd.*(a) | $ | 2,789,860 | |||||
306,805 | Pro Medicus Ltd. | 10,731,813 | ||||||
Total Australia | 13,521,673 | |||||||
Austria - 0.2% | ||||||||
153,381 | Erste Group Bank AG | 6,364,273 | ||||||
Bermuda - 0.2% | ||||||||
244,090 | Golar LNG Ltd.* | 3,099,943 | ||||||
182,644 | Hiscox Ltd.* | 2,031,492 | ||||||
Total Bermuda | 5,131,435 | |||||||
Brazil - 2.3% | ||||||||
1,431,601 | Aeris Industria E Comercio de Equipamentos Para Geracao de Energia SA* | 2,500,325 | ||||||
112,609 | Afya Ltd., Class A Shares* | 2,636,177 | ||||||
1,116,780 | Itau Unibanco Holding SA, ADR | 6,365,646 | ||||||
420,573 | Localiza Rent a Car SA | 4,999,720 | ||||||
1,327,833 | Lojas Americanas SA | 5,109,647 | ||||||
983,143 | Magazine Luiza SA | 3,820,981 | ||||||
381,459 | Notre Dame Intermedica Participacoes SA | 6,422,870 | ||||||
26,042 | Pagseguro Digital Ltd., Class A Shares* | 1,278,923 | ||||||
197,563 | Rede D'Or Sao Luiz SA(b) | 2,692,136 | ||||||
140,031 | StoneCo Ltd., Class A Shares* | 9,237,845 | ||||||
751,797 | Suzano SA* | 8,879,555 | ||||||
211,428 | XP Inc., Class A Shares* | 8,385,234 | ||||||
Total Brazil | 62,329,059 | |||||||
Canada - 2.6% | ||||||||
73,874 | Agnico Eagle Mines Ltd. | 5,321,375 | ||||||
567,404 | ARC Resources Ltd. | 4,313,680 | ||||||
30,953 | Descartes Systems Group Inc.* | 1,811,295 | ||||||
83,928 | Equitable Group Inc.(a) | 9,730,783 | ||||||
99,253 | Franco-Nevada Corp. | 14,853,838 | ||||||
304,843 | Lundin Mining Corp. | 3,274,380 | ||||||
39,435 | Magna International Inc. | 3,966,767 | ||||||
249,143 | Real Matters Inc.* | 3,418,882 | ||||||
4,100 | Shopify Inc., Class A Shares* | 5,095,767 | ||||||
104,747 | Sun Life Financial Inc. | 5,644,627 | ||||||
83,431 | TMX Group Ltd. | 9,282,087 | ||||||
70,513 | Wheaton Precious Metals Corp. | 3,384,040 | ||||||
Total Canada | 70,097,521 | |||||||
China - 9.3% | ||||||||
2,212,000 | AK Medical Holdings Ltd. | 3,946,104 | ||||||
166,196 | Alibaba Group Holding Ltd., ADR* | 35,559,296 | ||||||
23,376 | Baidu Inc., ADR* | 4,588,008 | ||||||
818,556 | Beijing Oriental Yuhong Waterproof Technology Co., Ltd., Class A Shares(c) | 7,362,557 | ||||||
721,300 | BTG Hotels Group Co., Ltd., Class A Shares(c) | 3,203,604 | ||||||
1,579,682 | China Conch Venture Holdings Ltd. | 7,263,918 | ||||||
1,746,311 | China Mengniu Dairy Co., Ltd.* | 10,321,309 | ||||||
3,487,262 | China Molybdenum Co., Ltd., Class A Shares(c) | 3,130,801 | ||||||
2,397,636 | China Molybdenum Co., Ltd., Class H Shares(d) | 1,602,481 | ||||||
127,006 | China Tourism Group Duty Free Corp., Ltd, Class A Shares(c) | 6,854,383 | ||||||
68,175 | GDS Holdings Ltd., ADR* | 5,128,123 | ||||||
162,598 | GDS Holdings Ltd., Class A Shares* | 1,520,203 | ||||||
223,550 | Glodon Co., Ltd., Class A Shares(c) | 2,595,960 | ||||||
660,400 | Gree Electric Appliances Inc. of Zhuhai, Class A Shares(c) | 5,908,728 | ||||||
209,416 | Hangzhou Tigermed Consulting Co., Ltd., Class A Shares*(c) | 5,652,097 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations International Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
China - 9.3% - (continued) | ||||||||
747,517 | Han's Laser Technology Industry Group Co., Ltd., Class A Shares(c) | $ | 4,381,414 | |||||
774,326 | Hua Hong Semiconductor Ltd.*(b) | 4,198,823 | ||||||
1,655,407 | Kingdee International Software Group Co., Ltd.* | 6,291,434 | ||||||
1,074,217 | Kingsoft Corp., Ltd | 7,243,416 | ||||||
14,700 | Kuaishou Technology, Class B Shares*(b) | 378,719 | ||||||
14,665 | Kweichow Moutai Co., Ltd., Class A Shares(c) | 5,138,831 | ||||||
179,565 | Lufax Holding Ltd., ADR*(a) | 2,188,897 | ||||||
134,197 | Meituan, Class B Shares*(b) | 4,567,785 | ||||||
495,072 | Midea Group Co., Ltd., Class A Shares(c) | 6,408,025 | ||||||
761,600 | NARI Technology Co., Ltd., Class A Shares(c) | 3,622,396 | ||||||
590,239 | Ping An Insurance Group Co. of China Ltd., Class H Shares(d) | 6,443,593 | ||||||
300,373 | SF Holding Co., Ltd., Class A Shares(c) | 3,293,847 | ||||||
280,458 | Shanghai Henlius Biotech Inc., Class H Shares*(a)(b)(d) | 1,528,453 | ||||||
778,000 | Shanghai Kindly Medical Instruments Co., Ltd., Class H Shares(a)(d) | 4,033,759 | ||||||
86,320 | Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Class A Shares(c) | 6,570,833 | ||||||
277,035 | Shenzhou International Group Holdings Ltd. | 7,315,841 | ||||||
4,602,019 | Sino Biopharmaceutical Ltd. | 5,095,242 | ||||||
424,299 | Tencent Holdings Ltd. | 32,847,089 | ||||||
12,887 | Tencent Holdings Ltd., ADR(a) | 1,010,083 | ||||||
832,544 | Venustech Group Inc., Class A Shares(c) | 4,121,280 | ||||||
116,159 | Will Semiconductor Co., Ltd. Shanghai, Class A Shares(c) | 5,227,580 | ||||||
1,031,188 | Winning Health Technology Group Co., Ltd., Class A Shares(c) | 2,680,629 | ||||||
136,000 | Wuxi Biologics Cayman Inc.*(b) | 2,013,325 | ||||||
88,157 | Yum China Holdings Inc. | 5,918,469 | ||||||
247,142 | Yunnan Baiyao Group Co., Ltd., Class A Shares(c) | 4,844,030 | ||||||
71,663 | Zai Lab Ltd., ADR* | 12,731,649 | ||||||
Total China | 254,733,014 | |||||||
Cyprus - 0.3% | ||||||||
74,688 | Ozon Holdings PLC, ADR*(a) | 3,963,692 | ||||||
53,418 | TCS Group Holding PLC, GDR | 4,007,616 | ||||||
Total Cyprus | 7,971,308 | |||||||
Denmark - 0.7% | ||||||||
6,180 | Genmab AS* | 2,512,709 | ||||||
30,095 | Jyske Bank AS, Class Registered Shares* | 1,556,453 | ||||||
145,542 | Novozymes AS, Class B Shares | 10,632,428 | ||||||
32,866 | Royal Unibrew AS | 4,249,362 | ||||||
39,903 | Sydbank AS | 1,283,047 | ||||||
Total Denmark | 20,233,999 | |||||||
Egypt - 0.6% | ||||||||
18,758,533 | Cleopatra Hospital* | 4,767,494 | ||||||
9,040,631 | Fawry for Banking & Payment Technology Services SAE*(c) | 12,191,728 | ||||||
Total Egypt | 16,959,222 | |||||||
Finland - 0.4% | ||||||||
130,820 | Musti Group OYJ* | 5,027,684 | ||||||
279,266 | Talenom OYJ(a) | 4,550,188 | ||||||
91,634 | Wartsila OYJ Abp | 1,239,149 | ||||||
Total Finland | 10,817,021 | |||||||
France - 6.8% | ||||||||
36,394 | Air Liquide SA | 6,188,507 | ||||||
75,364 | Alstom SA* | 4,253,651 | ||||||
75,919 | Aubay | 3,725,662 | ||||||
21,937 | Cie Generale des Etablissements Michelin SCA(a) | 3,355,409 | ||||||
91,396 | Danone SA | 6,510,803 | ||||||
7,024 | Dassault Aviation SA | 8,825,928 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations International Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
France - 6.8% - (continued) | ||||||||
28,751 | Dassault Systemes SE(a) | $ | 6,609,929 | |||||
61,839 | Esker SA | 17,104,037 | ||||||
94,034 | EssilorLuxottica SA(a)@ | 16,330,583 | ||||||
146,627 | Legrand SA(a) | 15,365,321 | ||||||
42,856 | L'Oreal SA | 19,403,053 | ||||||
9,072 | LVMH Moet Hennessy Louis Vuitton SE | 7,245,375 | ||||||
84,356 | Pernod Ricard SA | 18,652,623 | ||||||
115,025 | Sanofi | 12,330,182 | ||||||
143,110 | Schneider Electric SE | 22,766,718 | ||||||
161,335 | Thales SA | 16,548,976 | ||||||
Total France | 185,216,757 | |||||||
Germany - 5.5% | ||||||||
10,033 | adidas AG | 3,654,958 | ||||||
47,419 | Atoss Software AG | 9,958,005 | ||||||
16,368 | Auto1 Group SE*(b) | 868,452 | ||||||
68,331 | Bayer AG, Class Registered Shares | 4,350,886 | ||||||
47,571 | Beiersdorf AG | 5,643,125 | ||||||
44,428 | Deutsche Boerse AG | 7,259,627 | ||||||
174,743 | Deutsche Wohnen SE | 11,122,912 | ||||||
187,280 | Elmos Semiconductor SE | 7,995,505 | ||||||
120,360 | Evotec SE* | 5,307,673 | ||||||
251,733 | Exasol AG* | 5,216,699 | ||||||
119,361 | GEA Group AG | 5,197,995 | ||||||
143,284 | Henkel AG & Co. KGaA | 16,524,149 | ||||||
11,377 | Hypoport SE* | 6,359,770 | ||||||
29,569 | Infineon Technologies AG | 1,198,393 | ||||||
56,323 | Knorr-Bremse AG | 6,998,353 | ||||||
26,802 | LEG Immobilien SE | 3,942,611 | ||||||
62,768 | Mensch und Maschine Software SE | 4,837,825 | ||||||
7,825 | Merck KGaA | 1,406,542 | ||||||
37,430 | MorphoSys AG* | 3,287,922 | ||||||
123,268 | Nexus AG | 9,719,542 | ||||||
33,574 | SAP SE | 4,706,175 | ||||||
2,311 | Sartorius AG | 1,145,594 | ||||||
59,316 | Symrise AG, Class A Shares | 7,900,362 | ||||||
113,781 | TAG Immobilien AG | 3,574,084 | ||||||
65,543 | TeamViewer AG* | 2,566,861 | ||||||
76,703 | Vonovia SE | 4,812,727 | ||||||
53,415 | Zalando SE*(b) | 5,704,574 | ||||||
Total Germany | 151,261,321 | |||||||
Greece - 0.2% | ||||||||
477,609 | Sarantis SA | 5,111,896 | ||||||
Hong Kong - 1.5% | ||||||||
1,135,400 | AIA Group Ltd. | 15,060,462 | ||||||
1,468,261 | Budweiser Brewing Co. APAC Ltd.(b) | 5,045,076 | ||||||
714,761 | Galaxy Entertainment Group Ltd.* | 5,974,636 | ||||||
157,021 | New Frontier Health Corp.*(a) | 1,782,188 | ||||||
409,211 | Techtronic Industries Co., Ltd. | 7,712,266 | ||||||
1,550,000 | Vitasoy International Holdings Ltd. | 6,018,914 | ||||||
Total Hong Kong | 41,593,542 | |||||||
Hungary - 0.2% | ||||||||
107,597 | OTP Bank Nyrt* | 5,913,011 | ||||||
India - 8.0% | ||||||||
412,279 | Aavas Financiers Ltd.* | 13,035,068 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations International Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
India - 8.0% - (continued) | ||||||||
523,232 | Amara Raja Batteries Ltd. | $ | 5,369,189 | |||||
127,162 | Asian Paints Ltd. | 5,159,485 | ||||||
726,740 | Axis Bank Ltd.* | 7,415,459 | ||||||
165,259 | Bajaj Finance Ltd.* | 12,781,970 | ||||||
670,962 | Berger Paints India Ltd. | 7,422,678 | ||||||
477,713 | Bharti Airtel Ltd. | 3,451,556 | ||||||
3,125,379 | City Union Bank Ltd.* | 7,513,357 | ||||||
113,079 | Divi's Laboratories Ltd.* | 6,430,317 | ||||||
197,329 | Dr Lal PathLabs Ltd. | 7,638,576 | ||||||
64,027 | Dr Reddy's Laboratories Ltd. | 4,591,530 | ||||||
22,086 | Dr Reddy's Laboratories Ltd., ADR | 1,576,278 | ||||||
2,068,542 | Edelweiss Financial Services Ltd. | 1,856,953 | ||||||
128,619 | Godrej Properties Ltd.* | 2,413,013 | ||||||
584,438 | Gulf Oil Lubricants India Ltd. | 5,771,697 | ||||||
291,686 | HDFC Bank Ltd.* | 6,059,955 | ||||||
282,091 | Hemisphere Properties India Ltd.* | 515,495 | ||||||
113,322 | Hindustan Unilever Ltd. | 3,629,635 | ||||||
566,963 | Housing Development Finance Corp., Ltd | 19,861,827 | ||||||
182,072 | ICICI Lombard General Insurance Co., Ltd.(b) | 3,743,528 | ||||||
2,782,988 | JM Financial Ltd. | 3,375,649 | ||||||
74,528 | Jubilant Foodworks Ltd.* | 3,206,891 | ||||||
256,348 | Kotak Mahindra Bank Ltd.* | 6,376,411 | ||||||
38,041 | Maruti Suzuki India Ltd. | 3,658,554 | ||||||
663,348 | Max Financial Services Ltd.* | 8,562,984 | ||||||
486,691 | Metropolis Healthcare Ltd. | 16,943,999 | ||||||
239,298 | Muthoot Finance Ltd. | 4,182,714 | ||||||
812,069 | Nippon Life India Asset Management Ltd.(b) | 3,906,461 | ||||||
4,446,836 | NTPC Ltd. | 6,685,240 | ||||||
441,030 | Reliance Industries Ltd.(e) | 12,384,158 | ||||||
347,671 | SBI Life Insurance Co., Ltd.(b) | 4,685,645 | ||||||
197,205 | Supreme Industries Ltd. | 6,095,653 | ||||||
347,465 | Tata Communications Ltd. | 5,025,454 | ||||||
497,004 | Tata Consumer Products Ltd. | 4,491,101 | ||||||
184,514 | Titan Co., Ltd. | 4,014,179 | ||||||
Total India | 219,832,659 | |||||||
Indonesia - 0.7% | ||||||||
33,436,800 | Ace Hardware Indonesia Tbk PT | 3,486,248 | ||||||
21,713,716 | Bank BTPN Syariah Tbk PT | 4,024,603 | ||||||
3,246,800 | Bank Central Asia Tbk PT | 7,198,936 | ||||||
58,429,700 | Sarana Menara Nusantara Tbk PT@ | 4,803,276 | ||||||
Total Indonesia | 19,513,063 | |||||||
Ireland - 0.7% | ||||||||
198,718 | Experian PLC | 7,615,546 | ||||||
37,812 | Kerry Group PLC, Class A Shares | 5,124,602 | ||||||
47,462 | Ryanair Holdings PLC, ADR* | 5,541,188 | ||||||
Total Ireland | 18,281,336 | |||||||
Israel - 0.5% | ||||||||
1,910,304 | Nayax Ltd.* | 6,114,854 | ||||||
54,516 | Rami Levy Chain Stores Hashikma Marketing 2006 Ltd. | 3,522,547 | ||||||
15,413 | Wix.com Ltd.* | 4,005,222 | ||||||
Total Israel | 13,642,623 | |||||||
Italy - 0.7% | ||||||||
581,625 | Banca Mediolanum SpA | 5,614,360 | ||||||
23,420 | DiaSorin SpA | 4,117,922 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations International Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
Italy - 0.7% - (continued) | ||||||||
182,618 | Gruppo MutuiOnline SpA | $ | 9,288,315 | |||||
Total Italy | 19,020,597 | |||||||
Japan - 13.8% | ||||||||
556,316 | Avant Corp. | 7,763,526 | ||||||
218,570 | BASE Inc.*(a) | 3,395,747 | ||||||
241,700 | Chiba Bank Ltd. | 1,573,599 | ||||||
108,472 | Commerce One Holdings Inc.* | 2,336,498 | ||||||
99,700 | Cybozu Inc. | 2,203,996 | ||||||
103,700 | Direct Marketing MiX Inc. | 3,344,369 | ||||||
16,400 | Disco Corp. | 4,999,701 | ||||||
206,000 | eGuarantee Inc. | 4,046,587 | ||||||
70,400 | Ezaki Glico Co., Ltd. | 2,708,607 | ||||||
102,300 | Freee KK* | 7,621,025 | ||||||
218,500 | Fujitsu General Ltd. | 5,358,796 | ||||||
237,100 | Hachijuni Bank Ltd. | 820,205 | ||||||
233,589 | Hennge KK*(a) | 10,651,490 | ||||||
9,500 | Hikari Tsushin Inc. | 1,886,572 | ||||||
59,010 | Hirose Electric Co., Ltd. | 8,444,188 | ||||||
45,100 | Hoshizaki Corp. | 4,087,227 | ||||||
90,500 | IR Japan Holdings Ltd. | 11,558,217 | ||||||
134,200 | Ito En Ltd. | 7,606,762 | ||||||
524,100 | Japan Elevator Service Holdings Co., Ltd. | 11,070,017 | ||||||
192,100 | Kansai Paint Co., Ltd. | 5,199,913 | ||||||
216,600 | Kao Corp. | 13,318,513 | ||||||
8,205 | Keyence Corp. | 4,055,760 | ||||||
92,100 | Kobayashi Pharmaceutical Co., Ltd. | 8,162,943 | ||||||
10,400 | Kose Corp. | 1,663,905 | ||||||
36,700 | Kusuri no Aoki Holdings Co., Ltd. | 2,582,576 | ||||||
90,600 | Lion Corp. | 1,597,648 | ||||||
399,300 | Mebuki Financial Group Inc. | 865,001 | ||||||
212,800 | Medley Inc.*(a) | 8,255,480 | ||||||
58,900 | MedPeer Inc.* | 2,619,815 | ||||||
5,732 | Miroku Jyoho Service Co., Ltd. | 84,511 | ||||||
79,100 | Murata Manufacturing Co., Ltd. | 6,010,950 | ||||||
223,500 | Nihon Jyoho Create Co., Ltd.*(a) | 4,058,458 | ||||||
168,100 | Nihon Kohden Corp. | 4,771,818 | ||||||
441,300 | Nippon Telegraph & Telephone Corp. | 11,906,460 | ||||||
23,800 | Nissin Foods Holdings Co., Ltd. | 1,727,215 | ||||||
173,700 | Nomura Research Institute Ltd. | 5,546,489 | ||||||
355,400 | North Pacific Bank Ltd. | 818,624 | ||||||
202,100 | NTT Data Corp. | 3,271,958 | ||||||
32,200 | Obic Co., Ltd. | 6,050,842 | ||||||
63,500 | Omron Corp. | 5,027,284 | ||||||
83,300 | ORIX Corp. | 1,461,487 | ||||||
252,600 | Otsuka Holdings Co., Ltd. | 10,570,706 | ||||||
212,500 | Outsourcing Inc. | 3,878,922 | ||||||
159,800 | Pan Pacific International Holdings Corp. | 3,195,046 | ||||||
241,000 | Persol Holdings Co., Ltd. | 4,687,635 | ||||||
841,961 | Prestige International Inc. | 5,266,148 | ||||||
93,200 | Prored Partners Co., Ltd.*(a) | 2,511,351 | ||||||
184,100 | Raccoon Holdings Inc. | 4,576,813 | ||||||
564,904 | Rakus Co., Ltd. | 10,498,060 | ||||||
192,400 | Rohto Pharmaceutical Co., Ltd. | 4,766,361 | ||||||
414,900 | Santen Pharmaceutical Co., Ltd. | 5,533,480 | ||||||
95,700 | Secom Co., Ltd. | 7,579,375 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations International Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
Japan - 13.8% - (continued) | ||||||||
161,200 | SERAKU Co., Ltd. | $ | 3,157,843 | |||||
143,000 | Seven & i Holdings Co., Ltd. | 6,307,134 | ||||||
294,200 | Shimadzu Corp. | 10,442,878 | ||||||
17,900 | Shiseido Co., Ltd. | 1,293,710 | ||||||
403,473 | SIGMAXYZ Inc. | 7,687,548 | ||||||
12,800 | SMC Corp. | 7,694,854 | ||||||
132,238 | SMS Co., Ltd. | 3,673,266 | ||||||
51,600 | Sohgo Security Services Co., Ltd. | 2,418,506 | ||||||
74,200 | Sony Group Corp. | 7,372,506 | ||||||
143,500 | Stanley Electric Co., Ltd. | 4,310,059 | ||||||
75,000 | Suzuki Motor Corp. | 3,289,400 | ||||||
516,100 | Systena Corp. | 9,352,612 | ||||||
200,440 | Takeda Pharmaceutical Co., Ltd. | 6,869,889 | ||||||
66,200 | Temairazu Inc. | 4,011,280 | ||||||
147,600 | Terumo Corp. | 5,706,310 | ||||||
163,500 | Toyo Suisan Kaisha Ltd. | 6,668,379 | ||||||
220,200 | ValueCommerce Co., Ltd. | 6,140,065 | ||||||
159,600 | WealthNavi Inc.* | 6,292,343 | ||||||
140,000 | Yokogawa Electric Corp. | 2,273,476 | ||||||
1,531,000 | Z Holdings Corp. | 7,320,649 | ||||||
Total Japan | 375,881,383 | |||||||
Jersey, Channel Islands - 0.3% | ||||||||
756,238 | JTC PLC | 6,970,726 | ||||||
Mexico - 0.9% | ||||||||
1,187,696 | Grupo Mexico SAB de CV, Class B Shares | 5,701,060 | ||||||
2,294,108 | Qualitas Controladora SAB de CV | 12,618,818 | ||||||
1,815,029 | Wal-Mart de Mexico SAB de CV | 5,795,152 | ||||||
Total Mexico | 24,115,030 | |||||||
Netherlands - 2.8% | ||||||||
923 | Adyen NV*(b) | 2,139,705 | ||||||
85,877 | Akzo Nobel NV | 10,959,275 | ||||||
23,299 | ASML Holding NV | 15,681,462 | ||||||
33,919 | Core Laboratories NV | 1,417,814 | ||||||
40,253 | Euronext NV(b) | 4,276,929 | ||||||
81,330 | Heineken NV | 9,728,069 | ||||||
198,681 | Koninklijke Philips NV(a)@ | 11,216,366 | ||||||
31,129 | NXP Semiconductors NV | 6,581,293 | ||||||
116,846 | Prosus NV* | 12,085,766 | ||||||
22,980 | Wolters Kluwer NV | 2,205,663 | ||||||
Total Netherlands | 76,292,342 | |||||||
Norway - 0.8% | ||||||||
1,121,089 | LINK Mobility Group Holding ASA* | 5,098,971 | ||||||
139,439 | Medistim ASA(c) | 4,571,095 | ||||||
923,015 | Pexip Holding ASA* | 8,194,121 | ||||||
864,534 | Zaptec AS* | 4,427,270 | ||||||
Total Norway | 22,291,457 | |||||||
Philippines - 0.5% | ||||||||
4,319,382 | Ayala Land Inc. | 3,120,224 | ||||||
1,367,744 | BDO Unibank Inc. | 2,915,266 | ||||||
2,953,368 | Philippine Seven Corp.(c) | 6,435,595 | ||||||
115,040 | SM Investments Corp. | 2,358,444 | ||||||
Total Philippines | 14,829,529 | |||||||
Poland - 0.4% | ||||||||
275,260 | InPost SA* | 5,353,045 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations International Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
Poland - 0.4% - (continued) | ||||||||
549,919 | Powszechny Zaklad Ubezpieczen SA* | $ | 5,526,120 | |||||
Total Poland | 10,879,165 | |||||||
Portugal - 0.7% | ||||||||
793,186 | Galp Energia SGPS SA | 9,952,899 | ||||||
423,350 | Jeronimo Martins SGPS SA | 8,191,585 | ||||||
Total Portugal | 18,144,484 | |||||||
Russia - 1.5% | ||||||||
322,796 | Fix Price Group Ltd., GDR*(b)(c)(e) | 2,630,787 | ||||||
54,325 | Fix Price Group Ltd., GDR* | 442,749 | ||||||
274,542 | HeadHunter Group PLC, ADR* | 11,302,894 | ||||||
47,540 | Novatek PJSC, GDR | 9,468,701 | ||||||
8,463 | Polyus PJSC | 1,834,371 | ||||||
845 | Polyus PJSC, GDR | 91,869 | ||||||
11,567 | Polyus PJSC, GDR(c) | 1,256,176 | ||||||
117,007 | Sberbank of Russia PJSC, ADR (listed in UK) | 1,976,047 | ||||||
477,411 | Sberbank of Russia PJSC, ADR (listed in US) | 8,058,698 | ||||||
50,555 | Yandex NV, Class A Shares* | 3,414,485 | ||||||
Total Russia | 40,476,777 | |||||||
Singapore - 0.2% | ||||||||
3,481,500 | Sheng Siong Group Ltd. | 4,184,074 | ||||||
South Africa - 0.8% | ||||||||
36,413 | Capitec Bank Holdings Ltd. | 4,375,123 | ||||||
77,281 | Naspers Ltd., Class N Shares | 16,998,185 | ||||||
Total South Africa | 21,373,308 | |||||||
South Korea - 3.8% | ||||||||
54,555 | KINX Inc. | 3,044,995 | ||||||
97,350 | Korea Shipbuilding & Offshore Engineering Co., Ltd.*(a) | 12,489,724 | ||||||
101,084 | LEENO Industrial Inc.(a) | 15,031,707 | ||||||
3,807 | LG Household & Health Care Ltd. | 5,225,473 | ||||||
39,121 | NAVER Corp. | 12,565,756 | ||||||
573,596 | NICE Information Service Co., Ltd. | 11,865,928 | ||||||
622,885 | Samsung Electronics Co., Ltd. | 44,760,257 | ||||||
Total South Korea | 104,983,840 | |||||||
Spain - 0.4% | ||||||||
135,538 | Amadeus IT Group SA* | 10,233,689 | ||||||
Sweden - 1.4% | ||||||||
122,108 | Assa Abloy AB, Class B Shares | 3,762,603 | ||||||
129,008 | Cellavision AB | 5,399,677 | ||||||
194,470 | Epiroc AB, Class A Shares | 4,435,402 | ||||||
111,000 | Essity AB, Class B Shares | 3,842,511 | ||||||
133,936 | Fortnox AB | 6,777,919 | ||||||
333,715 | Swedbank AB, Class A Shares | 6,123,145 | ||||||
183,234 | Vitec Software Group AB, Class B Shares | 8,102,344 | ||||||
Total Sweden | 38,443,601 | |||||||
Switzerland - 5.7% | ||||||||
52,342 | Alcon Inc. | 3,649,635 | ||||||
1,254 | Barry Callebaut AG, Class Registered Shares | 2,854,970 | ||||||
146 | Chocoladefabriken Lindt & Spruengli AG | 1,378,297 | ||||||
50,105 | Cie Financiere Richemont SA, Class Registered Shares | 6,083,912 | ||||||
7,170 | Geberit AG, Class Registered Shares | 5,199,213 | ||||||
5,050 | Givaudan SA, Class Registered Shares | 22,589,593 | ||||||
2,216,406 | Glencore PLC* | 10,097,555 | ||||||
187,555 | Julius Baer Group Ltd. | 12,788,250 | ||||||
19,022 | Lonza Group AG, Class Registered Shares | 12,309,416 | ||||||
359,205 | Nestle SA, Class Registered Shares | 44,367,618 | ||||||
11,438 | PolyPeptide Group AG*(b) | 972,643 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations International Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
Switzerland - 5.7% - (continued) | ||||||||
10,989 | Roche Holding AG | $ | 3,850,532 | |||||
20,295 | Schindler Holding AG | 6,029,812 | ||||||
3,465 | SGS SA, Class Registered Shares | 10,826,251 | ||||||
18,349 | Sika AG, Class Registered Shares | 5,899,384 | ||||||
12,519 | Temenos AG, Class Registered Shares | 1,936,195 | ||||||
226,532 | UBS Group AG, Class Registered Shares | 3,698,615 | ||||||
Total Switzerland | 154,531,891 | |||||||
Taiwan - 3.9% | ||||||||
1,188,000 | Bioteque Corp. | 4,997,222 | ||||||
603,073 | Chief Telecom Inc. | 6,758,123 | ||||||
722,000 | Delta Electronics Inc. | 7,592,606 | ||||||
306,820 | Poya International Co., Ltd.* | 6,000,965 | ||||||
1,247,000 | Taiwan Semiconductor Manufacturing Co., Ltd. | 26,536,602 | ||||||
372,635 | Taiwan Semiconductor Manufacturing Co., Ltd., ADR | 43,732,444 | ||||||
264,981 | Voltronic Power Technology Corp. | 12,049,717 | ||||||
Total Taiwan | 107,667,679 | |||||||
Thailand - 0.5% | ||||||||
2,277,500 | CP ALL PCL, Class F Shares(c) | 4,427,460 | ||||||
2,605,500 | TQM Corp. PCL, Class F Shares(c) | 9,713,304 | ||||||
Total Thailand | 14,140,764 | |||||||
United Arab Emirates - 0.3% | ||||||||
1,343,847 | Network International Holdings PLC*(b) | 7,600,374 | ||||||
United Kingdom - 8.7% | ||||||||
416,128 | Amcor PLC | 4,894,824 | ||||||
186,010 | AstraZeneca PLC, ADR(a) | 10,559,788 | ||||||
332,512 | Avon Rubber PLC | 14,605,950 | ||||||
894,205 | boohoo Group PLC* | 4,047,784 | ||||||
153,387 | Burberry Group PLC* | 4,638,492 | ||||||
1,052,484 | Bytes Technology Group PLC* | 7,464,453 | ||||||
188,832 | Compass Group PLC* | 4,302,887 | ||||||
27,210 | Croda International PLC | 2,696,058 | ||||||
379,800 | Deliveroo PLC*(c)(e)@ | 1,287,323 | ||||||
201,087 | Deliveroo PLC, Class A Shares*(b) | 717,452 | ||||||
334,882 | Diageo PLC | 16,166,114 | ||||||
2,137,828 | dotdigital group PLC | 6,777,735 | ||||||
308,180 | FDM Group Holdings PLC | 4,338,567 | ||||||
357,972 | Future PLC | 14,400,873 | ||||||
488,260 | GB Group PLC | 6,475,425 | ||||||
191,655 | Halma PLC | 7,074,707 | ||||||
62,222 | Hargreaves Lansdown PLC | 1,461,030 | ||||||
96,568 | HomeServe PLC | 1,279,491 | ||||||
388,871 | IMI PLC | 9,161,321 | ||||||
85,608 | Intertek Group PLC | 6,590,969 | ||||||
4,735,688 | Johnson Service Group PLC* | 11,430,679 | ||||||
27,287 | Linde PLC | 8,207,722 | ||||||
91,845 | London Stock Exchange Group PLC | 9,860,028 | ||||||
293,552 | Mortgage Advice Bureau Holdings Ltd.(c) | 4,935,415 | ||||||
309,651 | Patisserie Holdings PLC*(c)(e) | 4,395 | ||||||
157,668 | Reckitt Benckiser Group PLC | 14,241,910 | ||||||
386,562 | Smith & Nephew PLC | 8,433,004 | ||||||
107,544 | Spectris PLC | 4,896,032 | ||||||
59,687 | Spirax-Sarco Engineering PLC | 10,745,959 | ||||||
1,404,281 | Strix Group PLC | 5,913,910 | ||||||
244,924 | THG PLC* | 2,116,700 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations International Equity Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
United Kingdom - 8.7% - (continued) | ||||||||
208,190 | Unilever PLC | $ | 12,476,533 | |||||
963,233 | YouGov PLC | 15,444,826 | ||||||
Total United Kingdom | 237,648,356 | |||||||
United States - 2.8% | ||||||||
17,685 | ACM Research Inc., Class A Shares* | 1,343,706 | ||||||
55,903 | Analog Devices Inc. | 9,201,634 | ||||||
32,195 | ANSYS Inc.* | 10,879,978 | ||||||
153,588 | Cadence Design Systems Inc.* | 19,504,140 | ||||||
101,528 | Colgate-Palmolive Co. | 8,506,016 | ||||||
123,673 | DD3 Acquisition Corp. II Forward Shares*(b)(c)(e) | 14,841 | ||||||
24,735 | DD3 Acquisition Corp. II Founders Shares*(b)(c)(e) | 178,587 | ||||||
1,830 | DD3 Acquisition Corp. II Private Units*(b)(c)(e) | 18,519 | ||||||
19,370 | Nordson Corp. | 4,294,135 | ||||||
40,402 | Philip Morris International Inc. | 3,895,965 | ||||||
18,123 | Texas Instruments Inc. | 3,440,108 | ||||||
36,500 | Visa Inc., Class A Shares | 8,296,450 | ||||||
55,759 | Waste Connections Inc. | 6,771,373 | ||||||
Total United States | 76,345,452 | |||||||
TOTAL COMMON STOCKS (Cost - $1,708,739,318) | 2,514,579,251 | |||||||
EXCHANGE TRADED FUNDS (ETFs) - 4.5% | ||||||||
United States - 4.5% | ||||||||
822,267 | iShares Core MSCI Emerging Markets | 54,804,095 | ||||||
1,256,435 | iShares MSCI EAFE Value(a) | 67,734,411 | ||||||
Total United States | 122,538,506 | |||||||
TOTAL EXCHANGE TRADED FUNDS (ETFs) (Cost - $109,818,714) | 122,538,506 | |||||||
WARRANT - 0.0% | ||||||||
Switzerland - 0.0% | ||||||||
96,408 | Cie Financiere Richemont SA*(c) | 62,164 | ||||||
(Cost - $0) | ||||||||
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS (Cost - $1,818,558,032) | 2,637,179,921 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations International Equity Fund (continued)
Face Amount† | Security | Value | ||||||
SHORT-TERM INVESTMENTS - 3.5% | ||||||||
TIME DEPOSITS - 3.5% | ||||||||
$ | 12,753,841 | Banco Bilbao Vizcaya Argentaria SA - Madrid, 0.005% due 6/1/21 | $ | 12,753,841 | ||||
BNP Paribas SA - Paris: | ||||||||
508,737 | CHF | (1.360)% due 5/31/21 | 565,577 | |||||
1,503,832 | EUR | (0.780)% due 5/31/21 | 1,833,923 | |||||
31,105,698 | 0.005% due 6/1/21 | 31,105,698 | ||||||
Brown Brothers Harriman - Grand Cayman: | ||||||||
457 | DKK | (0.550)% due 5/31/21 | 75 | |||||
2 | JPY | (0.310)% due 5/31/21 | - | |||||
4,154,440 | SEK | (0.270)% due 5/31/21 | 500,288 | |||||
35 | AUD | (0.200)% due 5/31/21 | 27 | |||||
20 | NOK | (0.130)% due 5/31/21 | 2 | |||||
4 | HKD | 0.000% due 5/31/21 | - | |||||
4 | NZD | 0.005% due 5/31/21 | 3 | |||||
46,812 | CAD | 0.010% due 5/31/21 | 38,768 | |||||
10,494,943 | ZAR | 3.500% due 5/31/21 | 761,615 | |||||
41,524 | GBP | Citibank - London, 0.005% due 6/1/21 | 58,931 | |||||
8,595,263 | HKD | Hong Kong & Shanghai Bank - Hong Kong, 0.00% due 5/31/21 | 1,107,516 | |||||
772 | SGD | Hong Kong & Shanghai Bank - Singapor, 0.005% due 5/31/21 | 584 | |||||
45,287,762 | Skandinaviska Enskilda Banken AB - Stockholm, 0.005% due 6/1/21 | 45,287,762 | ||||||
85,513,903 | JPY | Sumitomo Mitsui Banking Corp. - Tokyo, (0.310)% due 5/31/21 | 778,567 | |||||
TOTAL TIME DEPOSITS (Cost - $94,793,177) | 94,793,177 |
Shares/Units | ||||||||
INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING - 3.6% | ||||||||
MONEY MARKET FUND - 3.6% | ||||||||
101,299,111 | Federated Government Obligations Fund, Premier Class, 0.025%(f) (Cost - $101,299,111) | $ | 101,299,111 | |||||
TOTAL INVESTMENTS - 103.7% (Cost - $2,014,650,320) | 2,833,272,209 | |||||||
Liabilities in Excess of Other Assets - (3.7)% | (101,269,730 | ) | ||||||
TOTAL NET ASSETS - 100.0% | $ | 2,732,002,479 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations International Equity Fund (continued)
# | May 28, 2021 represents the last business day of the Fund’s fiscal first quarter. | |
† | Face amount denominated in U.S. dollars, unless otherwise noted. | |
* | Non-income producing security. | |
(a) | All or a portion of this security is on loan. | |
(b) | Restricted security that may be sold to “qualified institutional buyers” pursuant to the conditions of Rule 144A under the Securities Act of 1933, as amended. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees, unless otherwise noted. The aggregate value of restricted 144A holdings at May 28, 2021, amounts to approximately $58,325,563 and represents of net assets. | |
(c) | Illiquid security. The aggregate value of illiquid holdings at May 28, 2021, amounts to approximately $128,724,384 and represents 4.71% of net assets. | |
(d) | Security trades on the Hong Kong exchange. | |
(e) | Security is valued in good faith at fair value by or under the direction of the Board of Trustees using significant unobservable inputs. | |
(f) | Represents investment of collateral received from securities lending transactions. | |
@ | Restricted security – Investment in security not registered under the Securities Act of 1933. The investment is deemed to not be liquid and maybe sold only to qualified buyers. |
Security | First Acquisition Date | First Acquisition Cost | Market Value | Percent of Net Assets | ||||||||||||
Deliveroo PLC | 3/31/21 | $ | 1,081,309 | $ | 1,287,323 | 0.05 | % | |||||||||
EssilorLuxottica SA | 3/22/21 | 68,587 | 16,330,583 | 0.60 | % | |||||||||||
Koninklijke Philips NV | 4/27/21 | 210,993 | 11,216,366 | 0.40 | % | |||||||||||
Sarana Menara Nusantara Tbk PT | 4/3/17 | 1,400 | 4,803,276 | 0.18 | % | |||||||||||
Total | $ | 33,637,548 | 1.23 | % |
Abbreviations used in this schedule: | ||
ADR | — | American Depositary Receipts |
GDR | — | Global Depositary Receipts |
PCL | — | Public Company Limited |
PLC | — | Public Limited Company |
Summary of Investments by Security Sector^ | ||||
Consumer Non-cyclical | 25.5 | % | ||
Technology | 15.0 | |||
Financial | 13.8 | |||
Industrial | 12.0 | |||
Communications | 9.0 | |||
Consumer Cyclical | 6.6 | |||
Basic Materials | 5.4 | |||
Energy | 1.5 | |||
Utilities | 0.2 | |||
Exchange Traded Funds (ETFs) | 4.3 | |||
Short-Term Investments | 3.4 | |||
Money Market Fund | 3.3 | |||
100.0 | % |
^ As a percentage of total investments.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations International Equity Fund (concluded)
Schedule of Options Contracts Written
Equity Options
Number of Contracts | Notional Amount | Security Name | Counterparty | Expiration Date | Exercise Rate | Value | |||||||||||
108 | CHF | 664,632 | Julius Baer Group Ltd. | GSC | 6/18/21 | $ | 64.00 | $ | 4,082 | ||||||||
87 | EUR | 19,142 | EBS GmbH | MSC | 7/16/21 | 36.00 | 3,958 | ||||||||||
106 | CHF | 652,324 | Julius Baer Gruppe AG | MSC | 9/17/21 | 68.00 | 10,317 | ||||||||||
TOTAL OPTIONS CONTRACTS WRITTEN | |||||||||||||||||
(Premiums received — $26,643) | $ | 18,357 |
At May 28, 2021, Destinations International Equity Fund had open forward foreign currency contracts as described below.
The unrealized appreciation on the open contracts was as follows:
Foreign Currency | Local Currency | Counterparty | Market Value | Settlement Date | Unrealized Appreciation | Unrealized (Depreciation) | Unrealized Appreciation/ (Depreciation) | |||||||||||||||
Contracts to Sell: | ||||||||||||||||||||||
Japanese Yen | 795,000,000 | CITI | $ | 7,242,507 | 8/19/21 | $ | 275,949 | $ | – | $ | 275,949 | |||||||||||
Japanese Yen | 1,563,100,000 | HSBC | 14,239,953 | 8/19/21 | 550,715 | – | 550,715 | |||||||||||||||
Net Unrealized Appreciation on Open Forward Foreign Currency Contracts | $ | 826,664 | $ | – | $ | 826,664 |
Currency Abbreviations used in this schedule: | ||
AUD | — | Australian Dollar |
CAD | — | Canadian Dollar |
CHF | — | Swiss Franc |
DKK | — | Danish Krone |
EUR | — | Euro |
GBP | — | British Pound |
HKD | — | Hong Kong Dollar |
JPY | — | Japanese Yen |
NOK | — | Norwegian Krone |
NZD | — | New Zealand Dollar |
SEK | — | Swedish Krona |
SGD | — | Singapore Dollar |
ZAR | — | South African Rand |
Counterparty Abbreviations used in this schedule: | ||
CITI | — | Citigroup Global Markets Inc. |
GSC | — | Goldman Sachs & Co. |
HSBC | — | HSBC Bank USA |
MSC | — | Morgan Stanley |
Schedules of Investments |
May 28, 2021# (unaudited) |
Destinations Core Fixed Income Fund |
Face Amount/Units | Security | Value | ||||||
CORPORATE BONDS & NOTES - 26.5% | ||||||||
Basic Materials - 0.3% | ||||||||
$ | 255,000 | Air Products & Chemicals Inc., Senior Unsecured Notes, 1.850% due 5/15/27 | $ | 262,189 | ||||
210,000 | Arconic Corp., Secured Notes, 6.125% due 2/15/28(a) | 223,518 | ||||||
500,000 | CSN Islands XII Corp., Company Guaranteed Notes, 7.000% (b) | 506,255 | ||||||
DuPont de Nemours Inc., Senior Unsecured Notes: | ||||||||
1,270,000 | 4.205% due 11/15/23 | 1,380,738 | ||||||
175,000 | 5.419% due 11/15/48 | 232,640 | ||||||
410,000 | Georgia-Pacific LLC, Senior Unsecured Notes, 3.600% due 3/1/25(a) | 446,679 | ||||||
375,000 | Glencore Funding LLC, Company Guaranteed Notes, 1.625% due 4/27/26(a) | 374,966 | ||||||
95,000 | Hexion Inc., Company Guaranteed Notes, 7.875% due 7/15/27(a) | 102,374 | ||||||
130,000 | Illuminate Buyer LLC/Illuminate Holdings IV Inc., Senior Unsecured Notes, 9.000% due 7/1/28(a) | 143,975 | ||||||
215,000 | Kraton Polymers LLC/Kraton Polymers Capital Corp., Company Guaranteed Notes, 4.250% due 12/15/25(a) | 217,739 | ||||||
400,000 | LYB International Finance III LLC, Company Guaranteed Notes, 3.800% due 10/1/60 | 397,788 | ||||||
400,000 | MEGlobal Canada ULC, Company Guaranteed Notes, 5.000% due 5/18/25(a) | 449,280 | ||||||
85,000 | Novelis Corp., Company Guaranteed Notes, 4.750% due 1/30/30(a) | 89,250 | ||||||
POSCO, Senior Unsecured Notes: | ||||||||
600,000 | 2.375% due 1/17/23 | 614,592 | ||||||
300,000 | 2.750% due 7/15/24 | 316,180 | ||||||
30,000 | SCIH Salt Holdings Inc., Senior Unsecured Notes, 6.625% due 5/1/29(a) | 29,775 | ||||||
45,000 | TMS International Corp., Senior Unsecured Notes, 6.250% due 4/15/29(a) | 46,800 | ||||||
20,000 | Tronox Inc., Company Guaranteed Notes, 4.625% due 3/15/29(a) | 20,486 | ||||||
485,000 | Vale Overseas Ltd., Company Guaranteed Notes, 3.750% due 7/8/30 | 515,055 | ||||||
400,000 | Vedanta Resources Finance II PLC, Company Guaranteed Notes, 9.250% due 4/23/26(a) | 359,000 | ||||||
400,000 | Vedanta Resources Ltd., Senior Unsecured Notes, 6.125% due 8/9/24 | 341,200 | ||||||
Total Basic Materials | 7,070,479 | |||||||
Communications - 3.2% | ||||||||
200,000 | Acuris Finance U.S. Inc./Acuris Finance SARL, Senior Secured Notes, 5.000% due 5/1/28(a) | 200,000 | ||||||
1,290,000 | Alphabet Inc., Senior Unsecured Notes, 2.050% due 8/15/50 | 1,088,990 | ||||||
50,000 | Arches Buyer Inc., Senior Secured Notes, 4.250% due 6/1/28(a) | 49,125 | ||||||
AT&T Inc., Senior Unsecured Notes: | ||||||||
725,000 | 1.700% due 3/25/26 | 731,477 | ||||||
6,261,000 | 4.350% due 3/1/29 | 7,161,308 | ||||||
115,000 | 2.750% due 6/1/31 | 116,483 | ||||||
470,000 | 2.250% due 2/1/32 | 452,093 | ||||||
1,070,000 | 2.550% due 12/1/33(a) | 1,033,447 | ||||||
585,000 | 3.650% due 6/1/51 | 584,358 | ||||||
225,000 | 3.300% due 2/1/52 | 208,281 | ||||||
1,450,000 | 3.500% due 2/1/61 | 1,360,470 | ||||||
150,000 | Avaya Inc., Senior Secured Notes, 6.125% due 9/15/28(a) | 159,187 | ||||||
200,000 | Baidu Inc., Senior Unsecured Notes, 3.425% due 4/7/30 | 211,651 | ||||||
CCO Holdings LLC/CCO Holdings Capital Corp., Senior Unsecured Notes: | ||||||||
265,000 | 4.750% due 3/1/30(a) | 274,835 | ||||||
125,000 | 4.500% due 8/15/30(a) | 127,379 | ||||||
125,000 | Cengage Learning Inc., Senior Unsecured Notes, 9.500% due 6/15/24(a) | 127,031 |
Schedules of Investments |
May 28, 2021# (unaudited) |
Destinations Core Fixed Income Fund (continued) |
Face Amount/Units | Security | Value | ||||||
CORPORATE BONDS & NOTES - (continued) | ||||||||
Communications - 3.2% - (continued) | ||||||||
Charter Communications Operating LLC/Charter Communications Operating Capital, Senior Secured Notes: | ||||||||
$ | 410,000 | 4.908% due 7/23/25 | $ | 466,229 | ||||
360,000 | 4.200% due 3/15/28 | 402,447 | ||||||
570,000 | 2.300% due 2/1/32 | 535,003 | ||||||
6,745,000 | 4.800% due 3/1/50 | 7,402,786 | ||||||
165,000 | 3.900% due 6/1/52 | 158,180 | ||||||
100,000 | 4.400% due 12/1/61 | 101,129 | ||||||
Clear Channel Outdoor Holdings Inc.: | ||||||||
15,000 | Company Guaranteed Notes, 7.750% due 4/15/28(a) | 15,367 | ||||||
50,000 | Senior Unsecured Notes, 7.500% due 6/1/29(a) | 49,870 | ||||||
Comcast Corp., Company Guaranteed Notes: | ||||||||
3,015,000 | 3.750% due 4/1/40 | 3,308,725 | ||||||
375,000 | 4.700% due 10/15/48 | 464,483 | ||||||
85,000 | CommScope Technologies LLC, Company Guaranteed Notes, 5.000% due 3/15/27(a) | 85,677 | ||||||
85,000 | Consolidated Communications Inc., Senior Secured Notes, 5.000% due 10/1/28(a) | 86,487 | ||||||
Cox Communications Inc., Senior Unsecured Notes: | ||||||||
430,000 | 2.600% due 6/15/31(a) | 428,070 | ||||||
120,000 | 8.375% due 3/1/39(a) | 195,644 | ||||||
2,306,000 | Crown Castle Towers LLC, Asset Backed, 4.241% due 7/15/28(a) | 2,598,855 | ||||||
CSC Holdings LLC, Senior Unsecured Notes: | ||||||||
295,000 | 5.750% due 1/15/30(a) | 307,921 | ||||||
200,000 | 4.625% due 12/1/30(a) | 193,780 | ||||||
Digicel Group Holdings Ltd.: | ||||||||
54,430 | Senior Unsecured Notes, 8.000% due 4/1/25(a)(c) | 45,857 | ||||||
80,771 | Subordinated Notes, 7.000% (a)(b)(c) | 60,578 | ||||||
Discovery Communications LLC, Company Guaranteed Notes: | ||||||||
60,000 | 5.300% due 5/15/49 | 71,386 | ||||||
880,000 | 4.650% due 5/15/50 | 977,329 | ||||||
85,000 | DISH DBS Corp., Company Guaranteed Notes, 5.125% due 6/1/29(a) | 84,328 | ||||||
130,000 | Embarq Corp., Senior Unsecured Notes, 7.995% due 6/1/36 | 146,900 | ||||||
105,000 | Endure Digital Inc., Senior Unsecured Notes, 6.000% due 2/15/29(a) | 100,800 | ||||||
550,000 | Expedia Group Inc., Company Guaranteed Notes, 3.800% due 2/15/28 | 592,565 | ||||||
Frontier Communications Holdings LLC: | ||||||||
Secured Notes: | ||||||||
60,000 | 6.750% due 5/1/29(a) | 62,735 | ||||||
9,900 | 5.875% due 11/1/29 | 9,964 | ||||||
Senior Secured Notes: | ||||||||
45,000 | 5.875% due 10/15/27(a) | 47,812 | ||||||
90,000 | 5.000% due 5/1/28(a) | 92,250 | ||||||
135,000 | GCI LLC, Senior Unsecured Notes, 4.750% due 10/15/28(a) | 137,700 | ||||||
190,000 | Gray Television Inc., Company Guaranteed Notes, 7.000% due 5/15/27(a) | 205,437 | ||||||
120,000 | GTT Communications Inc., Company Guaranteed Notes, 7.875% due 12/31/24(a) | 11,400 | ||||||
25,000 | iHeartCommunications Inc., Company Guaranteed Notes, 8.375% due 5/1/27 | 26,732 | ||||||
110,000 | Intelsat Jackson Holdings SA, Company Guaranteed Notes, 5.500% due 8/1/23(d) | 64,075 | ||||||
KT Corp., Senior Unsecured Notes: | ||||||||
200,000 | 1.000% due 9/1/25 | 198,550 | ||||||
400,000 | 2.500% due 7/18/26 | 420,948 | ||||||
40,000 | Level 3 Financing Inc., Company Guaranteed Notes, 3.750% due 7/15/29(a) | 38,568 | ||||||
75,666 | Ligado Networks LLC, Senior Secured Notes, 15.500% due 11/1/23(a)(c) | 75,344 | ||||||
65,000 | LogMeIn Inc., Senior Secured Notes, 5.500% due 9/1/27(a) | 66,945 | ||||||
Lumen Technologies Inc.: | ||||||||
125,000 | Senior Secured Notes, 4.000% due 2/15/27(a) | 126,562 | ||||||
135,000 | Senior Unsecured Notes, 5.125% due 12/15/26(a) | 139,852 |
Schedules of Investments |
May 28, 2021# (unaudited) |
Destinations Core Fixed Income Fund (continued) |
Face Amount/Units | Security | Value | ||||||
CORPORATE BONDS & NOTES - (continued) | ||||||||
Communications - 3.2% - (continued) | ||||||||
$ | 65,000 | Match Group Holdings II LLC, Senior Unsecured Notes, 4.625% due 6/1/28(a) | $ | 66,625 | ||||
1,010,000 | NTT Finance Corp., Company Guaranteed Notes, 1.162% due 4/3/26(a) | 1,006,826 | ||||||
440,000 | Omnicom Group Inc., Senior Unsecured Notes, 2.450% due 4/30/30 | 437,182 | ||||||
Radiate Holdco LLC/Radiate Finance Inc.: | ||||||||
110,000 | Senior Secured Notes, 4.500% due 9/15/26(a) | 111,100 | ||||||
40,000 | Senior Unsecured Notes, 6.500% due 9/15/28(a) | 41,100 | ||||||
50,000 | Scripps Escrow II Inc., Senior Secured Notes, 3.875% due 1/15/29(a) | 48,625 | ||||||
165,000 | Scripps Escrow Inc., Company Guaranteed Notes, 5.875% due 7/15/27(a) | 170,363 | ||||||
600,000 | SingTel Group Treasury Pte Ltd., Company Guaranteed Notes, 4.500% due 9/8/21 | 606,149 | ||||||
2,726,000 | Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC, Senior Secured Notes, 5.152% due 3/20/28(a) | 3,121,270 | ||||||
5,478,000 | TD Ameritrade Holding Corp., Senior Unsecured Notes, 2.750% due 10/1/29 | 5,785,446 | ||||||
300,000 | Telefonica Emisiones SA, Company Guaranteed Notes, 4.895% due 3/6/48 | 343,843 | ||||||
130,000 | Telesat Canada/Telesat LLC, Company Guaranteed Notes, 6.500% due 10/15/27(a) | 123,663 | ||||||
Tencent Holdings Ltd., Senior Unsecured Notes: | ||||||||
705,000 | 3.975% due 4/11/29(a) | 775,140 | ||||||
500,000 | 2.390% due 6/3/30(a) | 492,357 | ||||||
200,000 | 2.880% due 4/22/31(a) | 203,348 | ||||||
55,000 | Terrier Media Buyer Inc., Company Guaranteed Notes, 8.875% due 12/15/27(a) | 58,850 | ||||||
T-Mobile USA Inc.: | ||||||||
Company Guaranteed Notes: | ||||||||
680,000 | 2.250% due 2/15/26 | 685,746 | ||||||
45,000 | 3.375% due 4/15/29 | 45,792 | ||||||
35,000 | 3.375% due 4/15/29(a) | 35,616 | ||||||
40,000 | 2.875% due 2/15/31 | 38,574 | ||||||
Senior Secured Notes: | ||||||||
650,000 | 3.500% due 4/15/25 | 705,416 | ||||||
1,975,000 | 3.875% due 4/15/30 | 2,164,719 | ||||||
2,010,000 | 3.000% due 2/15/41 | 1,884,978 | ||||||
35,000 | Townsquare Media Inc., Senior Secured Notes, 6.875% due 2/1/26(a) | 36,969 | ||||||
Uber Technologies Inc., Company Guaranteed Notes: | ||||||||
130,000 | 8.000% due 11/1/26(a) | 140,373 | ||||||
70,000 | 7.500% due 9/15/27(a) | 76,650 | ||||||
75,000 | Univision Communications Inc., Senior Secured Notes, 4.500% due 5/1/29(a) | 75,902 | ||||||
Verizon Communications Inc., Senior Unsecured Notes: | ||||||||
9,346,000 | 1.750% due 1/20/31 | 8,783,156 | ||||||
3,610,000 | 4.500% due 8/10/33 | 4,240,212 | ||||||
120,000 | 2.650% due 11/20/40 | 110,564 | ||||||
2,075,000 | 3.400% due 3/22/41 | 2,110,137 | ||||||
1,545,000 | ViacomCBS Inc., Senior Unsecured Notes, 4.950% due 1/15/31 | 1,830,385 | ||||||
165,000 | Viasat Inc., Senior Unsecured Notes, 6.500% due 7/15/28(a) | 174,735 | ||||||
65,000 | Zayo Group Holdings Inc., Senior Unsecured Notes, 6.125% due 3/1/28(a) | 66,169 | ||||||
Total Communications | 71,089,365 | |||||||
Consumer Cyclical - 2.0% | ||||||||
140,000 | Academy Ltd., Senior Secured Notes, 6.000% due 11/15/27(a) | 148,750 | ||||||
5,000,000 | Advance Auto Parts Inc., Company Guaranteed Notes, 3.900% due 4/15/30 | 5,499,037 | ||||||
135,000 | American Airlines Inc./AAdvantage Loyalty IP Ltd., Senior Secured Notes, 5.750% due 4/20/29(a) | 144,819 | ||||||
Asbury Automotive Group Inc., Company Guaranteed Notes: | ||||||||
38,000 | 4.500% due 3/1/28 | 39,158 | ||||||
38,000 | 4.750% due 3/1/30 | 39,710 | ||||||
AutoZone Inc., Senior Unsecured Notes: | ||||||||
365,000 | 3.625% due 4/15/25 | 399,672 | ||||||
1,702,000 | 1.650% due 1/15/31 | 1,584,244 |
Schedules of Investments |
May 28, 2021# (unaudited) |
Destinations Core Fixed Income Fund (continued) |
Face Amount/Units | Security | Value | ||||||
CORPORATE BONDS & NOTES - (continued) | ||||||||
Consumer Cyclical - 2.0% - (continued) | ||||||||
$ | 265,000 | Bally's Corp., Company Guaranteed Notes, 6.750% due 6/1/27(a) | $ | 281,809 | ||||
35,000 | Beacon Roofing Supply Inc., Company Guaranteed Notes, 4.125% due 5/15/29(a) | 34,519 | ||||||
125,000 | Boyd Gaming Corp., Senior Unsecured Notes, 4.750% due 6/15/31(a) | 126,287 | ||||||
150,000 | Boyne USA Inc., Senior Unsecured Notes, 4.750% due 5/15/29(a) | 154,935 | ||||||
165,000 | Caesars Entertainment Inc., Senior Secured Notes, 6.250% due 7/1/25(a) | 173,897 | ||||||
200,000 | Caesars Resort Collection LLC/CRC Finco Inc., Company Guaranteed Notes, 5.250% due 10/15/25(a) | 201,662 | ||||||
45,000 | Carlson Travel Inc., Senior Secured Notes, 6.750% due 12/15/25(a) | 38,362 | ||||||
Carnival Corp.: | ||||||||
65,000 | Senior Secured Notes, 11.500% due 4/1/23(a) | 74,372 | ||||||
80,000 | Senior Unsecured Notes, 5.750% due 3/1/27(a) | 85,000 | ||||||
65,000 | Carvana Co., Company Guaranteed Notes, 5.625% due 10/1/25(a) | 66,950 | ||||||
280,000 | Cedar Fair LP, Company Guaranteed Notes, 5.250% due 7/15/29 | 284,952 | ||||||
115,000 | Century Communities Inc., Company Guaranteed Notes, 6.750% due 6/1/27 | 123,740 | ||||||
666,875 | Continental Airlines Pass-Through Trust, Pass-Thru Certificates, 4.150% due 4/11/24 | 703,630 | ||||||
Dana Inc., Senior Unsecured Notes: | ||||||||
45,000 | 5.375% due 11/15/27 | 47,812 | ||||||
20,000 | 4.250% due 9/1/30 | 20,632 | ||||||
110,000 | Dealer Tire LLC/DT Issuer LLC, Senior Unsecured Notes, 8.000% due 2/1/28(a) | 116,187 | ||||||
425,000 | Dollar General Corp., Senior Unsecured Notes, 3.500% due 4/3/30 | 461,774 | ||||||
420,000 | Dollar Tree Inc., Senior Unsecured Notes, 4.000% due 5/15/25 | 465,360 | ||||||
70,000 | Ferrellgas LP/Ferrellgas Finance Corp., Senior Unsecured Notes, 5.375% due 4/1/26(a) | 68,250 | ||||||
Ford Motor Co., Senior Unsecured Notes: | ||||||||
70,000 | 9.000% due 4/22/25 | 85,524 | ||||||
170,000 | 7.450% due 7/16/31 | 214,625 | ||||||
35,000 | Full House Resorts Inc., Senior Secured Notes, 8.250% due 2/15/28(a) | 37,975 | ||||||
800,000 | General Motors Co., Senior Unsecured Notes, 6.125% due 10/1/25 | 951,020 | ||||||
800,000 | General Motors Financial Co., Inc., Company Guaranteed Notes, 1.184% (3-Month USD-LIBOR + 0.990%) due 1/5/23(e) | 807,786 | ||||||
105,000 | Golden Entertainment Inc., Senior Unsecured Notes, 7.625% due 4/15/26(a) | 111,956 | ||||||
Golden Nugget Inc.: | ||||||||
50,000 | Company Guaranteed Notes, 8.750% due 10/1/25(a) | 52,722 | ||||||
280,000 | Senior Unsecured Notes, 6.750% due 10/15/24(a) | 282,598 | ||||||
85,000 | Goodyear Tire & Rubber Co., Company Guaranteed Notes, 5.250% due 7/15/31(a) | 86,819 | ||||||
50,000 | Group 1 Automotive Inc., Company Guaranteed Notes, 4.000% due 8/15/28(a) | 50,312 | ||||||
Hilton Domestic Operating Co., Inc., Company Guaranteed Notes: | ||||||||
10,000 | 5.375% due 5/1/25(a) | 10,528 | ||||||
10,000 | 5.750% due 5/1/28(a) | 10,762 | ||||||
Home Depot Inc., Senior Unsecured Notes: | ||||||||
1,055,000 | 3.300% due 4/15/40 | 1,109,990 | ||||||
375,000 | 3.900% due 6/15/47 | 424,912 | ||||||
430,000 | Hyundai Capital America, Senior Unsecured Notes, 3.000% due 2/10/27(a) | 454,998 | ||||||
155,000 | Installed Building Products Inc., Company Guaranteed Notes, 5.750% due 2/1/28(a) | 163,138 | ||||||
IRB Holding Corp.: | ||||||||
230,000 | Company Guaranteed Notes, 6.750% due 2/15/26(a) | 237,762 | ||||||
100,000 | Senior Secured Notes, 7.000% due 6/15/25(a) | 108,040 | ||||||
100,000 | KAR Auction Services Inc., Company Guaranteed Notes, 5.125% due 6/1/25(a) | 102,000 | ||||||
340,000 | Las Vegas Sands Corp., Senior Unsecured Notes, 3.500% due 8/18/26 | 360,104 | ||||||
100,000 | LBM Acquisition LLC, Company Guaranteed Notes, 6.250% due 1/15/29(a) | 102,250 | ||||||
95,000 | Lions Gate Capital Holdings LLC, Company Guaranteed Notes, 5.500% due 4/15/29(a) | 98,395 | ||||||
310,000 | Live Nation Entertainment Inc., Company Guaranteed Notes, 5.625% due 3/15/26(a) | 322,788 | ||||||
80,000 | LSF9 Atlantis Holdings LLC/Victra Finance Corp., Senior Secured Notes, 7.750% due 2/15/26(a) | 81,443 | ||||||
130,000 | M/I Homes Inc., Company Guaranteed Notes, 4.950% due 2/1/28 | 136,500 | ||||||
40,000 | Magic Mergeco Inc., Senior Unsecured Notes, 7.875% due 5/1/29(a) | 40,870 |
Schedules of Investments |
May 28, 2021# (unaudited) |
Destinations Core Fixed Income Fund (continued) |
Face Amount/Units | Security | Value | ||||||
CORPORATE BONDS & NOTES - (continued) | ||||||||
Consumer Cyclical - 2.0% - (continued) | ||||||||
$ | 455,000 | Marriott International Inc., Senior Unsecured Notes, 2.850% due 4/15/31 | $ | 453,698 | ||||
140,000 | Mattamy Group Corp., Senior Unsecured Notes, 4.625% due 3/1/30(a) | 139,650 | ||||||
McDonald's Corp., Senior Unsecured Notes: | ||||||||
170,000 | 3.350% due 4/1/23 | 179,148 | ||||||
815,000 | 4.200% due 4/1/50 | 940,219 | ||||||
175,000 | Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp., Senior Secured Notes, 4.875% due 5/1/29(a) | 175,289 | ||||||
120,000 | Murphy Oil USA Inc., Company Guaranteed Notes, 4.750% due 9/15/29 | 125,250 | ||||||
85,000 | NCL Corp., Ltd, Company Guaranteed Notes, 5.875% due 3/15/26(a) | 88,613 | ||||||
220,000 | NCL Corp., Ltd., Senior Unsecured Notes, 3.625% due 12/15/24(a) | 210,254 | ||||||
200,000 | Performance Food Group Inc., Company Guaranteed Notes, 5.500% due 10/15/27(a) | 208,636 | ||||||
250,000 | PetSmart Inc./PetSmart Finance Corp., Senior Secured Notes, 4.750% due 2/15/28(a) | 258,900 | ||||||
35,000 | Real Hero Merger Sub 2 Inc., Senior Unsecured Notes, 6.250% due 2/1/29(a) | 36,190 | ||||||
80,000 | Scientific Games International Inc., Company Guaranteed Notes, 8.250% due 3/15/26(a) | 85,989 | ||||||
155,000 | Scotts Miracle-Gro Co., Company Guaranteed Notes, 4.500% due 10/15/29 | 161,402 | ||||||
280,000 | Six Flags Entertainment Corp., Company Guaranteed Notes, 4.875% due 7/31/24(a) | 282,100 | ||||||
6,250,000 | Southwest Airlines Co., Senior Unsecured Notes, 5.125% due 6/15/27 | 7,312,073 | ||||||
SRS Distribution Inc.: | ||||||||
110,000 | Company Guaranteed Notes, 6.125% due 7/1/29(a) | 112,200 | ||||||
70,000 | Senior Secured Notes, 4.625% due 7/1/28(a) | 70,644 | ||||||
Staples Inc.: | ||||||||
65,000 | Senior Secured Notes, 7.500% due 4/15/26(a) | 67,418 | ||||||
40,000 | Senior Unsecured Notes, 10.750% due 4/15/27(a) | 40,950 | ||||||
305,000 | Starbucks Corp., Senior Unsecured Notes, 3.800% due 8/15/25 | 339,094 | ||||||
4,750,000 | Steelcase Inc., Senior Unsecured Notes, 5.125% due 1/18/29 | 5,527,826 | ||||||
70,000 | Suburban Propane Partners LP/Suburban Energy Finance Corp., Senior Unsecured Notes, 5.000% due 6/1/31(a) | 70,732 | ||||||
130,000 | Superior Plus LP/Superior General Partner Inc., Senior Unsecured Notes, 4.500% due 3/15/29(a) | 132,218 | ||||||
50,000 | Tempur Sealy International Inc., Company Guaranteed Notes, 4.000% due 4/15/29(a) | 50,101 | ||||||
85,000 | Tenneco Inc., Senior Secured Notes, 5.125% due 4/15/29(a) | 85,000 | ||||||
United Airlines Inc., Senior Secured Notes: | ||||||||
30,000 | 4.375% due 4/15/26(a) | 31,088 | ||||||
105,000 | 4.625% due 4/15/29(a) | 108,480 | ||||||
2,100,694 | United Airlines Pass-Through Trust, Pass-Thru Certificates, 3.650% due 10/7/25 | 2,062,855 | ||||||
Viking Cruises Ltd.: | ||||||||
360,000 | Company Guaranteed Notes, 5.875% due 9/15/27(a) | 347,400 | ||||||
50,000 | Senior Secured Notes, 13.000% due 5/15/25(a) | 58,375 | ||||||
5,000,000 | Volkswagen Group of America Finance LLC, Company Guaranteed Notes, 1.250% due 11/24/25(a) | 4,997,392 | ||||||
120,000 | WASH Multifamily Acquisition Inc., Senior Secured Notes, 5.750% due 4/15/26(a) | 125,004 | ||||||
50,000 | Wheel Pros Inc., Senior Unsecured Notes, 6.500% due 5/15/29(a) | 50,272 | ||||||
114,000 | Wolverine Escrow LLC, Senior Secured Notes, 9.000% due 11/15/26(a) | 111,720 | ||||||
140,000 | Wyndham Hotels & Resorts Inc., Company Guaranteed Notes, 4.375% due 8/15/28(a) | 143,150 | ||||||
130,000 | Yum! Brands Inc., Senior Unsecured Notes, 4.750% due 1/15/30(a) | 139,038 | ||||||
Total Consumer Cyclical | 43,159,705 | |||||||
Consumer Non-cyclical - 3.0% | ||||||||
AbbVie Inc., Senior Unsecured Notes: | ||||||||
695,000 | 3.450% due 3/15/22 | 708,779 | ||||||
450,000 | 3.850% due 6/15/24 | 489,450 | ||||||
380,000 | 2.950% due 11/21/26 | 407,810 | ||||||
105,000 | 3.200% due 11/21/29 | 112,623 | ||||||
6,523,000 | 4.250% due 11/21/49 | 7,512,436 | ||||||
300,000 | Adani International Container Terminal Pvt Ltd., Senior Secured Notes, 3.000% due 2/16/31(a) | 290,027 |
Schedules of Investments |
May 28, 2021# (unaudited) |
Destinations Core Fixed Income Fund (continued) |
Face Amount/Units | Security | Value | ||||||
CORPORATE BONDS & NOTES - (continued) | ||||||||
Consumer Non-cyclical - 3.0% - (continued) | ||||||||
$ | 200,000 | Adani Ports & Special Economic Zone Ltd., Senior Unsecured Notes, 4.375% due 7/3/29 | $ | 211,040 | ||||
120,000 | Air Methods Corp., Senior Unsecured Notes, 8.000% due 5/15/25(a) | 112,350 | ||||||
1,465,000 | Alcon Finance Corp., Company Guaranteed Notes, 2.750% due 9/23/26(a) | 1,553,582 | ||||||
Allied Universal Holdco LLC/Allied Universal Finance Corp.: | ||||||||
130,000 | Senior Secured Notes, 6.625% due 7/15/26(a) | 137,808 | ||||||
255,000 | Senior Unsecured Notes, 9.750% due 7/15/27(a) | 281,137 | ||||||
Altria Group Inc., Company Guaranteed Notes: | ||||||||
340,000 | 2.350% due 5/6/25 | 356,066 | ||||||
330,000 | 2.450% due 2/4/32 | 312,436 | ||||||
195,000 | 3.875% due 9/16/46 | 185,692 | ||||||
Amgen Inc., Senior Unsecured Notes: | ||||||||
340,000 | 2.200% due 2/21/27 | 354,023 | ||||||
450,000 | 2.450% due 2/21/30 | 457,244 | ||||||
3,500,000 | Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide Inc., Company Guaranteed Notes, 4.900% due 2/1/46 | 4,195,972 | ||||||
Anheuser-Busch InBev Worldwide Inc., Company Guaranteed Notes: | ||||||||
340,000 | 4.439% due 10/6/48 | 386,265 | ||||||
345,000 | 5.550% due 1/23/49 | 450,978 | ||||||
1,010,000 | 4.750% due 4/15/58 | 1,179,526 | ||||||
Anthem Inc., Senior Unsecured Notes: | ||||||||
435,000 | 3.300% due 1/15/23 | 455,438 | ||||||
780,000 | 3.500% due 8/15/24 | 845,377 | ||||||
175,000 | 5.100% due 1/15/44 | 222,023 | ||||||
355,000 | Archer-Daniels-Midland Co., Senior Unsecured Notes, 3.250% due 3/27/30 | 387,549 | ||||||
Astrazeneca Finance LLC, Company Guaranteed Notes: | ||||||||
1,010,000 | 1.200% due 5/28/26 | 1,011,081 | ||||||
690,000 | 1.750% due 5/28/28 | 689,338 | ||||||
85,000 | B&G Foods Inc., Company Guaranteed Notes, 5.250% due 9/15/27 | 87,763 | ||||||
BAT Capital Corp., Company Guaranteed Notes: | ||||||||
475,000 | 2.259% due 3/25/28 | 467,370 | ||||||
650,000 | 3.462% due 9/6/29 | 676,344 | ||||||
475,000 | 2.726% due 3/25/31 | 457,308 | ||||||
705,000 | BAT International Finance PLC, Company Guaranteed Notes, 1.668% due 3/25/26 | 703,532 | ||||||
Bausch Health Cos. Inc.: | ||||||||
Company Guaranteed Notes: | ||||||||
60,000 | 6.250% due 2/15/29(a) | 58,650 | ||||||
135,000 | 5.250% due 1/30/30(a) | 124,369 | ||||||
58,000 | Senior Secured Notes, 7.000% due 3/15/24(a) | 59,212 | ||||||
90,000 | Bausch Health Cos., Inc., Senior Secured Notes, 4.875% due 6/1/28(a) | 90,729 | ||||||
280,000 | Baxter International Inc., Senior Unsecured Notes, 3.950% due 4/1/30 | 317,550 | ||||||
210,000 | Bayer US Finance II LLC, Company Guaranteed Notes, 4.250% due 12/15/25(a) | 235,307 | ||||||
692,000 | Becton Dickinson & Co., Senior Unsecured Notes, 2.894% due 6/6/22 | 708,834 | ||||||
1,615,000 | Boston Scientific Corp., Senior Unsecured Notes, 3.750% due 3/1/26 | 1,797,694 | ||||||
Bristol-Myers Squibb Co., Senior Unsecured Notes: | ||||||||
71,000 | 2.900% due 7/26/24 | 76,120 | ||||||
780,000 | 0.750% due 11/13/25 | 775,650 | ||||||
460,000 | 2.550% due 11/13/50 | 418,284 | ||||||
460,000 | Bunge Ltd. Finance Corp., Company Guaranteed Notes, 2.750% due 5/14/31 | 459,443 | ||||||
100,000 | Catalent Pharma Solutions Inc., Company Guaranteed Notes, 5.000% due 7/15/27(a) | 104,300 | ||||||
Centene Corp., Senior Unsecured Notes: | ||||||||
80,000 | 3.000% due 10/15/30 | 80,000 | ||||||
80,000 | 2.500% due 3/1/31 | 76,640 |
Schedules of Investments |
May 28, 2021# (unaudited) |
Destinations Core Fixed Income Fund (continued) |
Face Amount/Units | Security | Value | ||||||
CORPORATE BONDS & NOTES - (continued) | ||||||||
Consumer Non-cyclical - 3.0% - (continued) | ||||||||
CHS/Community Health Systems Inc.: | ||||||||
Senior Secured Notes: | ||||||||
$ | 95,000 | 6.000% due 1/15/29(a) | $ | 99,405 | ||||
85,000 | 4.750% due 2/15/31(a) | 83,343 | ||||||
70,000 | Secured Notes, 6.875% due 4/15/29(a) | 71,453 | ||||||
Cigna Corp.: | ||||||||
Company Guaranteed Notes: | ||||||||
460,000 | 1.074% (3-Month USD-LIBOR + 0.890%) due 7/15/23(e) | 466,277 | ||||||
280,000 | 3.050% due 10/15/27 | 302,643 | ||||||
380,000 | 4.900% due 12/15/48 | 473,402 | ||||||
1,235,000 | Senior Unsecured Notes, 1.250% due 3/15/26 | 1,237,871 | ||||||
1,555,000 | Coca-Cola Co., Senior Unsecured Notes, 2.250% due 1/5/32 | 1,560,950 | ||||||
325,000 | CommonSpirit Health, Senior Secured Notes, 2.760% due 10/1/24 | 344,392 | ||||||
Constellation Brands Inc.: | ||||||||
Company Guaranteed Notes: | ||||||||
165,000 | 3.600% due 2/15/28 | 181,242 | ||||||
280,000 | 3.150% due 8/1/29 | 296,465 | ||||||
160,000 | Senior Unsecured Notes, 2.875% due 5/1/30 | 165,595 | ||||||
Coty Inc.: | ||||||||
55,000 | Company Guaranteed Notes, 6.500% due 4/15/26(a) | 54,711 | ||||||
95,000 | Senior Secured Notes, 5.000% due 4/15/26(a) | 96,342 | ||||||
CVS Health Corp., Senior Unsecured Notes: | ||||||||
947,000 | 4.780% due 3/25/38 | 1,127,614 | ||||||
885,000 | 5.050% due 3/25/48 | 1,092,333 | ||||||
1,269,006 | CVS Pass-Through Trust, Pass-Thru Certificates, 6.943% due 1/10/30 | 1,552,489 | ||||||
85,000 | DaVita Inc., Company Guaranteed Notes, 4.625% due 6/1/30(a) | 86,691 | ||||||
1,040,000 | Diageo Capital PLC, Company Guaranteed Notes, 2.000% due 4/29/30 | 1,027,284 | ||||||
90,000 | Emergent BioSolutions Inc., Company Guaranteed Notes, 3.875% due 8/15/28(a) | 88,443 | ||||||
Encompass Health Corp., Company Guaranteed Notes: | ||||||||
65,000 | 4.500% due 2/1/28 | 67,113 | ||||||
20,000 | 4.750% due 2/1/30 | 20,975 | ||||||
165,000 | 4.625% due 4/1/31 | 175,016 | ||||||
75,000 | Endo Luxembourg Finance Co. I SARL/Endo US Inc., Senior Secured Notes, 6.125% due 4/1/29(a) | 73,969 | ||||||
510,000 | Equifax Inc., Senior Unsecured Notes, 2.600% due 12/15/25 | 540,751 | ||||||
235,000 | Estee Lauder Cos. Inc., Senior Unsecured Notes, 2.600% due 4/15/30 | 243,746 | ||||||
Garda World Security Corp.: | ||||||||
Senior Unsecured Notes: | ||||||||
200,000 | 8.750% due 5/15/25(a) | 208,750 | ||||||
100,000 | 6.000% due 6/1/29(a) | 99,119 | ||||||
220,000 | Senior Secured Notes, 4.625% due 2/15/27(a) | 219,450 | ||||||
670,000 | General Mills Inc., Senior Unsecured Notes, 2.875% due 4/15/30 | 700,945 | ||||||
Gilead Sciences Inc., Senior Unsecured Notes: | ||||||||
170,000 | 2.500% due 9/1/23 | 177,272 | ||||||
1,285,000 | 1.650% due 10/1/30 | 1,217,366 | ||||||
925,000 | GlaxoSmithKline Capital Inc., Company Guaranteed Notes, 3.625% due 5/15/25 | 1,025,449 | ||||||
795,000 | Global Payments Inc., Senior Unsecured Notes, 2.900% due 5/15/30 | 815,088 | ||||||
200,000 | HCA Inc., Senior Secured Notes, 4.125% due 6/15/29 | 223,911 | ||||||
160,000 | H-Food Holdings LLC/Hearthside Finance Co., Inc., Senior Unsecured Notes, 8.500% due 6/1/26(a) | 165,416 | ||||||
105,000 | Hill-Rom Holdings Inc., Company Guaranteed Notes, 4.375% due 9/15/27(a) | 108,800 | ||||||
Hormel Foods Corp., Senior Unsecured Notes: | ||||||||
165,000 | 0.650% due 6/3/24 | 165,078 | ||||||
75,000 | 1.700% due 6/3/28 | 74,789 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Core Fixed Income Fund (continued)
Face Amount/Units | Security | Value | ||||||
CORPORATE BONDS & NOTES - (continued) | ||||||||
Consumer Non-cyclical - 3.0% - (continued) | ||||||||
$ | 45,000 | JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc., Company Guaranteed Notes, 3.750% due 12/1/31(a) | $ | 45,581 | ||||
435,000 | Johnson & Johnson, Senior Unsecured Notes, 3.550% due 3/1/36 | 497,056 | ||||||
Kraft Heinz Foods Co., Company Guaranteed Notes: | ||||||||
150,000 | 5.000% due 7/15/35 | 177,098 | ||||||
4,167,000 | 4.625% due 10/1/39 | 4,658,202 | ||||||
420,000 | 5.200% due 7/15/45 | 495,955 | ||||||
Kronos Acquisition Holdings Inc./KIK Custom Products Inc.: | ||||||||
115,000 | Company Guaranteed Notes, 7.000% due 12/31/27(a) | 117,013 | ||||||
215,000 | Senior Secured Notes, 5.000% due 12/31/26(a) | 218,494 | ||||||
145,000 | Legacy LifePoint Health LLC, Senior Secured Notes, 4.375% due 2/15/27(a) | 144,456 | ||||||
75,000 | Legends Hospitality Holding Co. LLC/Legends Hospitality Co.-Issuer Inc., Senior Secured Notes, 5.000% due 2/1/26(a) | 77,625 | ||||||
105,000 | LifePoint Health Inc., Company Guaranteed Notes, 5.375% due 1/15/29(a) | 102,244 | ||||||
80,000 | Metis Merger Sub LLC, Senior Unsecured Notes, 6.500% due 5/15/29(a) | 78,786 | ||||||
725,000 | Mondelez International Inc., Senior Unsecured Notes, 1.500% due 2/4/31 | 674,567 | ||||||
240,000 | MPH Acquisition Holdings LLC, Company Guaranteed Notes, 5.750% due 11/1/28(a) | 238,838 | ||||||
25,000 | NESCO Holdings II Inc., Secured Notes, 5.500% due 4/15/29(a) | 25,781 | ||||||
264,000 | New York & Presbyterian Hospital, Unsecured Notes, 4.763% due 8/1/16 | 341,301 | ||||||
540,000 | Novartis Capital Corp., Company Guaranteed Notes, 2.000% due 2/14/27 | 562,131 | ||||||
Ortho-Clinical Diagnostics Inc./Ortho-Clinical Diagnostics SA, Senior Unsecured Notes: | ||||||||
17,000 | 7.375% due 6/1/25(a) | 18,212 | ||||||
129,000 | 7.250% due 2/1/28(a) | 140,288 | ||||||
540,000 | PepsiCo Inc., Senior Unsecured Notes, 3.625% due 3/19/50 | 600,141 | ||||||
720,000 | Pfizer Inc., Senior Unsecured Notes, 1.700% due 5/28/30 | 704,243 | ||||||
45,000 | Post Holdings Inc., Company Guaranteed Notes, 5.500% due 12/15/29(a) | 48,063 | ||||||
100,000 | Primo Water Holdings Inc., Company Guaranteed Notes, 4.375% due 4/30/29(a) | 100,045 | ||||||
400,000 | PSA Treasury Pte Ltd., Company Guaranteed Notes, 2.125% due 9/5/29 | 402,278 | ||||||
320,000 | Quest Diagnostics Inc., Senior Unsecured Notes, 2.800% due 6/30/31 | 329,535 | ||||||
160,000 | Radiology Partners Inc., Company Guaranteed Notes, 9.250% due 2/1/28(a) | 175,400 | ||||||
70,000 | Rent-A-Center Inc., Company Guaranteed Notes, 6.375% due 2/15/29(a) | 74,900 | ||||||
Royalty Pharma PLC, Company Guaranteed Notes: | ||||||||
1,810,000 | 2.200% due 9/2/30(a) | 1,739,827 | ||||||
445,000 | 3.300% due 9/2/40(a) | 432,096 | ||||||
180,000 | RP Escrow Issuer LLC, Senior Secured Notes, 5.250% due 12/15/25(a) | 185,850 | ||||||
75,000 | Sabre GLBL Inc., Senior Secured Notes, 9.250% due 4/15/25(a) | 87,750 | ||||||
220,000 | SEG Holding LLC/SEG Finance Corp., Senior Secured Notes, 5.625% due 10/15/28(a) | 230,230 | ||||||
305,000 | Select Medical Corp., Company Guaranteed Notes, 6.250% due 8/15/26(a) | 321,586 | ||||||
425,000 | Smithfield Foods Inc., Company Guaranteed Notes, 4.250% due 2/1/27(a) | 467,211 | ||||||
Spectrum Brands Inc., Company Guaranteed Notes: | ||||||||
130,000 | 5.000% due 10/1/29(a) | 137,150 | ||||||
80,000 | 3.875% due 3/15/31(a) | 77,799 | ||||||
310,000 | Sutter Health, Unsecured Notes, 3.361% due 8/15/50 | 315,533 | ||||||
Sysco Corp., Company Guaranteed Notes: | ||||||||
200,000 | 3.250% due 7/15/27 | 217,497 | ||||||
225,000 | 3.300% due 2/15/50 | 218,895 | ||||||
200,000 | Takeda Pharmaceutical Co., Ltd., Senior Unsecured Notes, 2.050% due 3/31/30 | 195,161 | ||||||
Tenet Healthcare Corp.: | ||||||||
Senior Secured Notes: | ||||||||
80,000 | 5.125% due 11/1/27(a) | 83,502 | ||||||
125,000 | 4.250% due 6/1/29(a) | 124,954 | ||||||
255,000 | Company Guaranteed Notes, 6.125% due 10/1/28(a) | 266,870 | ||||||
200,000 | Secured Notes, 6.250% due 2/1/27(a) | 208,500 | ||||||
85,000 | Triton Water Holdings Inc., Senior Unsecured Notes, 6.250% due 4/1/29(a) | 85,230 | ||||||
135,000 | United Natural Foods Inc., Company Guaranteed Notes, 6.750% due 10/15/28(a) | 144,609 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Core Fixed Income Fund (continued)
Face Amount/Units | Security | Value | ||||||
CORPORATE BONDS & NOTES - (continued) | ||||||||
Consumer Non-cyclical - 3.0% - (continued) | ||||||||
United Rentals North America Inc., Company Guaranteed Notes: | ||||||||
$ | 15,000 | 5.250% due 1/15/30 | $ | 16,370 | ||||
25,000 | 3.875% due 2/15/31 | 25,125 | ||||||
UnitedHealth Group Inc., Senior Unsecured Notes: | ||||||||
1,270,000 | 2.375% due 8/15/24 | 1,343,808 | ||||||
490,000 | 2.300% due 5/15/31 | 492,240 | ||||||
70,000 | 3.500% due 8/15/39 | 75,786 | ||||||
US Foods Inc.: | ||||||||
75,000 | Company Guaranteed Notes, 4.750% due 2/15/29(a) | 74,813 | ||||||
15,000 | Senior Secured Notes, 6.250% due 4/15/25(a) | 15,893 | ||||||
130,000 | Viatris Inc., Company Guaranteed Notes, 1.650% due 6/22/25(a) | 131,995 | ||||||
145,000 | Vizient Inc., Senior Unsecured Notes, 6.250% due 5/15/27(a) | 153,338 | ||||||
Total Consumer Non-cyclical | 66,730,948 | |||||||
Energy - 2.2% | ||||||||
65,000 | Aethon United BR LP/Aethon United Finance Corp., Senior Unsecured Notes, 8.250% due 2/15/26(a) | 69,631 | ||||||
250,000 | AI Candelaria Spain SLU, Senior Secured Notes, 5.750% due 6/15/33(a) | 250,000 | ||||||
105,000 | Antero Midstream Partners LP/Antero Midstream Finance Corp., Company Guaranteed Notes, 5.750% due 3/1/27(a) | 108,173 | ||||||
70,000 | Antero Resources Corp., Senior Unsecured Notes, 5.375% due 3/1/30(a) | 70,267 | ||||||
Apache Corp., Senior Unsecured Notes: | ||||||||
70,000 | 4.625% due 11/15/25 | 74,286 | ||||||
135,000 | 4.375% due 10/15/28 | 138,487 | ||||||
500,000 | BG Energy Capital PLC, Company Guaranteed Notes, 5.125% due 10/15/41(a) | 640,524 | ||||||
55,000 | Blue Racer Midstream LLC/Blue Racer Finance Corp., Senior Unsecured Notes, 7.625% due 12/15/25(a) | 59,469 | ||||||
BP Capital Markets America Inc., Company Guaranteed Notes: | ||||||||
565,000 | 3.633% due 4/6/30 | 626,814 | ||||||
255,000 | 2.939% due 6/4/51 | 235,681 | ||||||
425,000 | 3.379% due 2/8/61 | 411,447 | ||||||
445,000 | Canadian Natural Resources Ltd., Senior Unsecured Notes, 2.950% due 1/15/23 | 462,391 | ||||||
5,250,000 | Cenovus Energy Inc., Senior Unsecured Notes, 4.250% due 4/15/27 | 5,820,858 | ||||||
85,000 | Chesapeake Energy Corp., Company Guaranteed Notes, 5.875% due 2/1/29(a) | 91,648 | ||||||
180,000 | CNX Midstream Partners LP/CNX Midstream Finance Corp., Company Guaranteed Notes, 6.500% due 3/15/26(a) | 187,875 | ||||||
40,000 | CNX Resources Corp., Company Guaranteed Notes, 6.000% due 1/15/29(a) | 42,700 | ||||||
340,720 | Empresa Electrica Cochrane SpA, Senior Secured Notes, 5.500% due 5/14/27 | 349,696 | ||||||
215,000 | Enable Midstream Partners LP, Company Guaranteed Notes, 5.000% due 5/15/44 | 224,174 | ||||||
90,000 | Endeavor Energy Resources LP/EER Finance Inc., Senior Unsecured Notes, 6.625% due 7/15/25(a) | 95,413 | ||||||
Energy Transfer LP, Senior Unsecured Notes: | ||||||||
220,000 | 4.750% due 1/15/26 | 246,723 | ||||||
330,000 | 3.900% due 7/15/26 | 360,794 | ||||||
1,260,000 | 4.900% due 3/15/35 | 1,406,283 | ||||||
345,000 | 5.950% due 10/1/43 | 410,542 | ||||||
630,000 | 6.250% due 4/15/49 | 786,290 | ||||||
Enterprise Products Operating LLC, Company Guaranteed Notes: | ||||||||
420,000 | 3.750% due 2/15/25 | 459,654 | ||||||
6,000,000 | 4.150% due 10/16/28 | 6,816,772 | ||||||
1,010,000 | 4.800% due 2/1/49 | 1,193,190 | ||||||
EQM Midstream Partners LP, Senior Unsecured Notes: | ||||||||
50,000 | 6.500% due 7/1/27(a) | 54,957 | ||||||
85,000 | 4.750% due 1/15/31(a) | 85,531 | ||||||
80,000 | EQT Corp., Senior Unsecured Notes, 8.500% due 2/1/30 | 104,000 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Core Fixed Income Fund (continued)
Face Amount/Units | Security | Value | ||||||
CORPORATE BONDS & NOTES - (continued) | ||||||||
Energy - 2.2% - (continued) | ||||||||
$ | 630,000 | Equinor ASA, Company Guaranteed Notes, 3.700% due 4/6/50 | $ | 690,608 | ||||
95,000 | Exterran Energy Solutions LP/EES Finance Corp., Company Guaranteed Notes, 8.125% due 5/1/25 | 85,870 | ||||||
Exxon Mobil Corp., Senior Unsecured Notes: | ||||||||
295,000 | 2.992% due 3/19/25 | 318,481 | ||||||
570,000 | 4.227% due 3/19/40 | 658,350 | ||||||
Galaxy Pipeline Assets Bidco Ltd., Senior Secured Notes: | ||||||||
400,000 | 2.160% due 3/31/34(a) | 394,782 | ||||||
500,000 | 2.625% due 3/31/36 | 490,018 | ||||||
700,000 | 2.940% due 9/30/40(a) | 693,047 | ||||||
200,000 | Gran Tierra Energy Inc., Company Guaranteed Notes, 7.750% due 5/23/27(a) | 171,500 | ||||||
600,000 | Gran Tierra Energy International Holdings Ltd., Company Guaranteed Notes, 6.250% due 2/15/25 | 516,006 | ||||||
Gulfport Energy Corp., : | ||||||||
175,000 | 6.375% due 5/15/25(f) | 7,000 | ||||||
51,000 | 8.000% due 5/17/26 | 55,080 | ||||||
220,000 | Halliburton Co., Senior Unsecured Notes, 2.920% due 3/1/30 | 224,214 | ||||||
620,000 | Hess Corp., Senior Unsecured Notes, 7.300% due 8/15/31 | 824,633 | ||||||
Hess Midstream Operations LP, Company Guaranteed Notes: | ||||||||
160,000 | 5.625% due 2/15/26(a) | 165,866 | ||||||
145,000 | 5.125% due 6/15/28(a) | 152,134 | ||||||
190,000 | Hilcorp Energy I LP/Hilcorp Finance Co., Senior Unsecured Notes, 6.250% due 11/1/28(a) | 199,500 | ||||||
85,000 | Indigo Natural Resources LLC, Senior Unsecured Notes, 5.375% due 2/1/29(a) | 85,232 | ||||||
200,000 | Investment Energy Resources Ltd., Senior Secured Notes, 6.250% due 4/26/29(a) | 215,000 | ||||||
560,000 | Marathon Petroleum Corp., Senior Unsecured Notes, 4.700% due 5/1/25 | 634,428 | ||||||
MEG Energy Corp., Company Guaranteed Notes: | ||||||||
175,000 | 7.125% due 2/1/27(a) | 187,688 | ||||||
20,000 | 5.875% due 2/1/29(a) | 20,800 | ||||||
120,000 | Moss Creek Resources Holdings Inc., Company Guaranteed Notes, 7.500% due 1/15/26(a) | 105,600 | ||||||
MPLX LP, Senior Unsecured Notes: | ||||||||
6,838,000 | 1.285% (3-Month USD-LIBOR + 1.100%) due 9/9/22(e) | 6,842,171 | ||||||
225,000 | 1.750% due 3/1/26 | 227,983 | ||||||
315,000 | 4.125% due 3/1/27 | 352,919 | ||||||
210,000 | 4.000% due 3/15/28 | 232,772 | ||||||
360,000 | 4.700% due 4/15/48 | 401,496 | ||||||
140,000 | NGL Energy Operating LLC/NGL Energy Finance Corp., Senior Secured Notes, 7.500% due 2/1/26(a) | 145,683 | ||||||
90,000 | NGL Energy Partners LP/NGL Energy Finance Corp., Company Guaranteed Notes, 7.500% due 4/15/26 | 79,403 | ||||||
265,000 | NuStar Logistics LP, Company Guaranteed Notes, 6.000% due 6/1/26 | 283,802 | ||||||
80,000 | Oasis Petroleum Inc., Company Guaranteed Notes, 6.375% due 6/1/26(a) | 81,300 | ||||||
Occidental Petroleum Corp., Senior Unsecured Notes: | ||||||||
95,000 | 8.000% due 7/15/25 | 111,730 | ||||||
225,000 | 6.625% due 9/1/30 | 257,832 | ||||||
205,000 | 6.125% due 1/1/31 | 227,376 | ||||||
45,000 | 6.450% due 9/15/36 | 50,689 | ||||||
45,000 | 6.600% due 3/15/46 | 49,221 | ||||||
80,000 | Ovintiv Inc., Company Guaranteed Notes, 7.375% due 11/1/31 | 106,663 | ||||||
140,000 | Par Petroleum LLC/Par Petroleum Finance Corp., Senior Secured Notes, 7.750% due 12/15/25(a) | 141,008 | ||||||
95,000 | Parkland Corp., Company Guaranteed Notes, 4.500% due 10/1/29(a) | 96,425 | ||||||
40,000 | PBF Holding Co. LLC/PBF Finance Corp., Company Guaranteed Notes, 6.000% due 2/15/28 | 29,500 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Core Fixed Income Fund (continued)
Face Amount/Units | Security | Value | ||||||
CORPORATE BONDS & NOTES - (continued) | ||||||||
Energy - 2.2% - (continued) | ||||||||
$ | 59,000 | Peabody Energy Corp., Senior Secured Notes, 8.500% due 12/31/24(a)(c) | $ | 37,170 | ||||
550,000 | Petrobras Global Finance BV, Company Guaranteed Notes, 6.750% due 6/3/50 | 618,475 | ||||||
65,000 | PIC AU Holdings LLC/PIC AU Holdings Corp., Senior Secured Notes, 10.000% due 12/31/24(a) | 62,888 | ||||||
280,000 | Pioneer Natural Resources Co., Senior Unsecured Notes, 1.125% due 1/15/26 | 277,516 | ||||||
200,000 | PTTEP Treasury Center Co., Ltd., Company Guaranteed Notes, 2.587% due 6/10/27(a) | 206,577 | ||||||
110,000 | Rattler Midstream LP, Company Guaranteed Notes, 5.625% due 7/15/25(a) | 114,400 | ||||||
Sabine Pass Liquefaction LLC, Senior Secured Notes: | ||||||||
320,000 | 5.000% due 3/15/27 | 370,615 | ||||||
200,000 | 4.500% due 5/15/30 | 226,709 | ||||||
3,530,000 | Schlumberger Investment SA, Company Guaranteed Notes, 2.650% due 6/26/30 | 3,637,590 | ||||||
645,000 | Shell International Finance BV, Company Guaranteed Notes, 3.250% due 4/6/50 | 657,010 | ||||||
140,000 | SunCoke Energy Partners LP/SunCoke Energy Partners Finance Corp., Company Guaranteed Notes, 7.500% due 6/15/25(a) | 144,900 | ||||||
Sunoco LP/Sunoco Finance Corp., Company Guaranteed Notes: | ||||||||
105,000 | 6.000% due 4/15/27 | 109,725 | ||||||
55,000 | 4.500% due 5/15/29(a) | 54,645 | ||||||
240,000 | Targa Resources Partners LP/Targa Resources Partners Finance Corp., Company Guaranteed Notes, 4.875% due 2/1/31(a) | 250,800 | ||||||
480,000 | Total Capital International SA, Company Guaranteed Notes, 3.386% due 6/29/60 | 481,817 | ||||||
360,000 | TransCanada PipeLines Ltd., Senior Unsecured Notes, 5.100% due 3/15/49 | 453,455 | ||||||
50,000 | Transocean Inc., Company Guaranteed Notes, 11.500% due 1/30/27(a) | 49,772 | ||||||
300,000 | Transocean Poseidon Ltd., Senior Secured Notes, 6.875% due 2/1/27(a) | 291,750 | ||||||
542,283 | UEP Penonome II SA, Senior Secured Notes, 6.500% due 10/1/38(a) | 547,712 | ||||||
325,000 | USA Compression Partners LP/USA Compression Finance Corp., Company Guaranteed Notes, 6.875% due 9/1/27 | 341,153 | ||||||
295,000 | Valero Energy Corp., Senior Unsecured Notes, 2.850% due 4/15/25 | 313,031 | ||||||
125,000 | Viper Energy Partners LP, Company Guaranteed Notes, 5.375% due 11/1/27(a) | 130,000 | ||||||
4,000 | Weatherford International Ltd., Company Guaranteed Notes, 11.000% due 12/1/24(a) | 4,056 | ||||||
Western Midstream Operating LP, Senior Unsecured Notes: | ||||||||
150,000 | 4.350% due 2/1/25 | 156,375 | ||||||
155,000 | 5.300% due 2/1/30 | 170,888 | ||||||
215,000 | Williams Cos. Inc., Senior Unsecured Notes, 3.750% due 6/15/27 | 238,469 | ||||||
Total Energy | 48,445,578 | |||||||
Financial - 9.2% | ||||||||
95,000 | Acrisure LLC/Acrisure Finance Inc., Senior Secured Notes, 4.250% due 2/15/29(a) | 92,776 | ||||||
430,000 | Air Lease Corp., Senior Unsecured Notes, 3.250% due 3/1/25 | 455,935 | ||||||
590,000 | Alexandria Real Estate Equities Inc., Company Guaranteed Notes, 1.875% due 2/1/33 | 544,576 | ||||||
135,000 | Alliant Holdings Intermediate LLC/Alliant Holdings Co.-Issuer, Senior Unsecured Notes, 6.750% due 10/15/27(a) | 139,387 | ||||||
515,000 | American Express Co., Senior Unsecured Notes, 4.200% due 11/6/25 | 585,036 | ||||||
1,575,000 | American International Group Inc., Senior Unsecured Notes, 2.500% due 6/30/25 | 1,665,283 | ||||||
3,700,000 | American Tower Trust #1, Asset Backed, 3.070% due 3/15/23(a) | 3,731,627 | ||||||
AssuredPartners Inc., Senior Unsecured Notes: | ||||||||
160,000 | 7.000% due 8/15/25(a) | 163,300 | ||||||
25,000 | 5.625% due 1/15/29(a) | 24,812 | ||||||
425,000 | Athene Holding Ltd., Senior Unsecured Notes, 3.950% due 5/25/51 | 432,793 | ||||||
Avolon Holdings Funding Ltd.: | ||||||||
155,000 | Company Guaranteed Notes, 3.250% due 2/15/27(a) | 159,028 | ||||||
295,000 | Senior Unsecured Notes, 2.125% due 2/21/26(a) | 291,616 | ||||||
200,000 | Banco Davivienda SA, Junior Subordinated Notes, 6.650% (5-Year CMT Index + 5.097%) (a)(b)(e) | 205,500 | ||||||
Banco de Credito del Peru, Subordinated Notes: | ||||||||
200,000 | 3.125% (5-Year CMT Index + 3.000%) due 7/1/30(a)(e) | 197,502 | ||||||
250,000 | 3.125% (5-Year CMT Index + 3.000%) due 7/1/30(e) | 246,877 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Core Fixed Income Fund (continued)
Face Amount/Units | Security | Value | ||||||
CORPORATE BONDS & NOTES - (continued) | ||||||||
Financial - 9.2% - (continued) | ||||||||
$ | 350,000 | Banco de Reservas de la Republica Dominicana, Subordinated Notes, 7.000% due 2/1/23 | $ | 366,629 | ||||
200,000 | Banco do Estado do Rio Grande do Sul SA, Subordinated Notes, 5.375% (5-Year CMT Index + 4.928%) due 1/28/31(a)(e) | 200,002 | ||||||
200,000 | Banco General SA, Junior Subordinated Notes, 5.250% (5-Year CMT Index + 3.665%) (a)(b)(e) | 203,250 | ||||||
600,000 | Banco Internacional del Peru SAA Interbank, Subordinated Notes, 4.000% (1-Year CMT Index + 3.711%) due 7/8/30(e) | 588,000 | ||||||
Banco Macro SA, Subordinated Notes: | ||||||||
200,000 | 6.750% (5-Year USD Swap Rate + 5.463%) due 11/4/26(a)(e) | 160,002 | ||||||
650,000 | 6.750% (5-Year USD Swap Rate + 5.463%) due 11/4/26(e) | 520,007 | ||||||
600,000 | Banco Mercantil del Norte SA, Junior Subordinated Notes, 7.625% (5-Year CMT Index + 5.353%) (b)(e) | 673,806 | ||||||
500,000 | Bangkok Bank PCL, Junior Subordinated Notes, 5.000% (5-Year CMT Index + 4.729%) (b)(e) | 525,000 | ||||||
Bank of America Corp., Senior Unsecured Notes: | ||||||||
2,375,000 | 2.456% (3-Month USD-LIBOR + 0.870%) due 10/22/25(e) | 2,500,998 | ||||||
1,365,000 | 1.658% (SOFRRATE + 0.910%) due 3/11/27(e) | 1,384,302 | ||||||
1,535,000 | 3.559% (3-Month USD-LIBOR + 1.060%) due 4/23/27(e) | 1,687,736 | ||||||
885,000 | 3.824% (3-Month USD-LIBOR + 1.575%) due 1/20/28(e) | 987,224 | ||||||
1,000,000 | 3.974% (3-Month USD-LIBOR + 1.210%) due 2/7/30(e) | 1,121,536 | ||||||
690,000 | 1.898% (SOFRRATE + 1.530%) due 7/23/31(e) | 659,350 | ||||||
6,075,000 | 1.922% (SOFRRATE + 1.370%) due 10/24/31(e) | 5,803,727 | ||||||
900,000 | 3.311% (SOFRRATE + 1.580%) due 4/22/42(e) | 921,173 | ||||||
2,345,000 | 4.083% (3-Month USD-LIBOR + 3.150%) due 3/20/51(e) | 2,670,064 | ||||||
Bank of New York Mellon Corp., Senior Unsecured Notes: | ||||||||
455,000 | 2.100% due 10/24/24 | 478,762 | ||||||
555,000 | 2.450% due 8/17/26 | 588,849 | ||||||
420,000 | Bank of Nova Scotia, Senior Unsecured Notes, 3.400% due 2/11/24 | 452,173 | ||||||
5,000,000 | Barclays PLC, Senior Unsecured Notes, 4.375% due 1/12/26 | 5,628,901 | ||||||
1,045,000 | BBVA USA, Senior Unsecured Notes, 2.500% due 8/27/24 | 1,103,282 | ||||||
500,000 | BDO Unibank Inc., Senior Unsecured Notes, 2.950% due 3/6/23 | 517,550 | ||||||
525,000 | Berkshire Hathaway Finance Corp., Company Guaranteed Notes, 4.200% due 8/15/48 | 623,406 | ||||||
1,170,000 | BlackRock Inc., Senior Unsecured Notes, 1.900% due 1/28/31 | 1,148,609 | ||||||
BNP Paribas SA, Senior Unsecured Notes: | ||||||||
935,000 | 2.219% (SOFRRATE + 2.074%) due 6/9/26(a)(e) | 967,150 | ||||||
495,000 | 1.323% (SOFRRATE + 1.004%) due 1/13/27(a)(e) | 489,908 | ||||||
845,000 | BOC Aviation USA Corp., Company Guaranteed Notes, 1.625% due 4/29/24(a) | 851,424 | ||||||
Boston Properties LP, Senior Unsecured Notes: | ||||||||
665,000 | 3.650% due 2/1/26 | 735,409 | ||||||
3,000,000 | 2.750% due 10/1/26 | 3,211,642 | ||||||
2,983,000 | 3.400% due 6/21/29 | 3,186,472 | ||||||
185,000 | Brighthouse Financial Global Funding, Senior Secured Notes, 1.000% due 4/12/24(a) | 185,814 | ||||||
310,000 | Brown & Brown Inc., Senior Unsecured Notes, 2.375% due 3/15/31 | 304,191 | ||||||
CIMB Bank Bhd, Senior Unsecured Notes: | ||||||||
200,000 | 3.263% due 3/15/22 | 203,720 | ||||||
200,000 | 0.974% (3-Month USD-LIBOR + 0.780%) due 10/9/24(e) | 201,159 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Core Fixed Income Fund (continued)
Face Amount/Units | Security | Value | ||||||
CORPORATE BONDS & NOTES - (continued) | ||||||||
Financial - 9.2% - (continued) | ||||||||
Citigroup Inc., Senior Unsecured Notes: | ||||||||
$ | 805,000 | 2.876% (3-Month USD-LIBOR + 0.950%) due 7/24/23(e) | $ | 828,618 | ||||
990,000 | 0.981% (SOFRRATE + 0.669%) due 5/1/25(e) | 996,071 | ||||||
550,000 | 3.700% due 1/12/26 | 610,489 | ||||||
5,000,000 | 3.106% (SOFRRATE + 2.842%) due 4/8/26(e) | 5,365,871 | ||||||
815,000 | 3.668% (3-Month USD-LIBOR + 1.390%) due 7/24/28(e) | 900,747 | ||||||
1,830,000 | 4.412% (SOFRRATE + 3.914%) due 3/31/31(e) | 2,104,279 | ||||||
5,000,000 | Credit Suisse Group AG, Senior Unsecured Notes, 4.194% (SOFRRATE + 3.730%) due 4/1/31(a)(e) | 5,560,884 | ||||||
Crown Castle International Corp., Senior Unsecured Notes: | ||||||||
3,000,000 | 3.800% due 2/15/28 | 3,307,795 | ||||||
395,000 | 4.300% due 2/15/29 | 447,062 | ||||||
DBS Group Holdings Ltd.: | ||||||||
200,000 | Senior Unsecured Notes, 0.796% (3-Month USD-LIBOR + 0.620%) due 7/25/22(e) | 201,161 | ||||||
300,000 | Subordinated Notes, 4.520% (5-Year USD 1100 Run ICE Swap Rate + 1.590%) due 12/11/28(e) | 324,321 | ||||||
400,000 | Discover Financial Services, Senior Unsecured Notes, 4.100% due 2/9/27 | 449,019 | ||||||
Equinix Inc., Senior Unsecured Notes: | ||||||||
115,000 | 1.800% due 7/15/27 | 115,701 | ||||||
210,000 | 2.000% due 5/15/28 | 209,812 | ||||||
495,000 | 2.500% due 5/15/31 | 493,015 | ||||||
1,225,000 | Equitable Financial Life Global Funding, Secured Notes, 1.800% due 3/8/28(a) | 1,210,396 | ||||||
6,017,000 | ERP Operating LP, Senior Unsecured Notes, 3.375% due 6/1/25 | 6,525,401 | ||||||
555,000 | Fifth Third Bancorp, Senior Unsecured Notes, 2.375% due 1/28/25 | 583,652 | ||||||
6,134,000 | Five Corners Funding Trust II, Senior Unsecured Notes, 2.850% due 5/15/30(a) | 6,367,911 | ||||||
900,000 | GE Capital Funding LLC, Company Guaranteed Notes, 4.400% due 5/15/30 | 1,034,759 | ||||||
Gilex Holding SARL, Senior Secured Notes: | ||||||||
200,000 | 8.500% due 5/2/23(a) | 204,002 | ||||||
150,000 | 8.500% due 5/2/23 | 153,002 | ||||||
209,392 | Global Aircraft Leasing Co., Ltd., Senior Unsecured Notes, 6.500% due 9/15/24(a)(c) | 209,392 | ||||||
260,000 | GLP Capital LP/GLP Financing II Inc., Company Guaranteed Notes, 5.300% due 1/15/29 | 300,063 | ||||||
Goldman Sachs Group Inc., Senior Unsecured Notes: | ||||||||
1,150,000 | 2.905% (3-Month USD-LIBOR + 0.990%) due 7/24/23(e) | 1,182,466 | ||||||
920,000 | 1.326% (3-Month USD-LIBOR + 1.170%) due 5/15/26(e) | 945,756 | ||||||
540,000 | 3.500% due 11/16/26 | 590,006 | ||||||
6,865,000 | 1.431% (SOFRRATE + 0.798%) due 3/9/27(e) | 6,871,838 | ||||||
300,000 | 1.992% (SOFRRATE + 1.090%) due 1/27/32(e) | 286,383 | ||||||
1,740,000 | 2.615% (SOFRRATE + 1.281%) due 4/22/32(e) | 1,753,476 | ||||||
590,000 | 6.250% due 2/1/41 | 848,310 | ||||||
470,000 | Guardian Life Global Funding, Secured Notes, 1.250% due 5/13/26(a) | 470,384 | ||||||
65,000 | Hightower Holding LLC, Company Guaranteed Notes, 6.750% due 4/15/29(a) | 65,982 | ||||||
HSBC Holdings PLC, Senior Unsecured Notes: | ||||||||
1,950,000 | 3.033% (3-Month USD-LIBOR + 0.923%) due 11/22/23(e) | 2,026,246 | ||||||
315,000 | 0.976% (SOFRRATE + 0.708%) due 5/24/25(e) | 316,327 | ||||||
1,685,000 | 4.583% (3-Month USD-LIBOR + 1.535%) due 6/19/29(e) | 1,929,858 | ||||||
1,400,000 | 3.973% (3-Month USD-LIBOR + 1.610%) due 5/22/30(e) | 1,545,170 | ||||||
Iron Mountain Inc., Company Guaranteed Notes: | ||||||||
70,000 | 4.875% due 9/15/29(a) | 71,750 | ||||||
100,000 | 4.500% due 2/15/31(a) | 99,375 | ||||||
105,000 | iStar Inc., Senior Unsecured Notes, 4.750% due 10/1/24 | 109,751 | ||||||
200,000 | Itau Unibanco Holding SA, Junior Subordinated Notes, 4.625% (5-Year CMT Index + 3.222%) (b)(e) | 194,650 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Core Fixed Income Fund (continued)
Face Amount/Units | Security | Value | ||||||
CORPORATE BONDS & NOTES - (continued) | ||||||||
Financial - 9.2% - (continued) | ||||||||
JPMorgan Chase & Co., Senior Unsecured Notes: | ||||||||
$ | 2,760,000 | 3.300% due 4/1/26 | $ | 3,029,940 | ||||
4,170,000 | 3.960% (3-Month USD-LIBOR + 1.245%) due 1/29/27(e) | 4,663,500 | ||||||
730,000 | 3.509% (3-Month USD-LIBOR + 0.945%) due 1/23/29(e) | 799,884 | ||||||
5,817,000 | 2.522% (SOFRRATE + 2.040%) due 4/22/31(e) | 5,898,818 | ||||||
1,150,000 | 2.580% (SOFRRATE + 1.250%) due 4/22/32(e) | 1,158,727 | ||||||
560,000 | 3.157% (SOFRRATE + 1.460%) due 4/22/42(e) | 563,159 | ||||||
500,000 | Kasikornbank PCL, Junior Subordinated Notes, 5.275% (5-Year CMT Index + 4.940%) (b)(e) | 526,875 | ||||||
575,000 | KeyCorp, Senior Unsecured Notes, 2.550% due 10/1/29 | 594,566 | ||||||
15,000 | LD Holdings Group LLC, Company Guaranteed Notes, 6.125% due 4/1/28(a) | 14,812 | ||||||
875,000 | Macquarie Group Ltd., Senior Unsecured Notes, 4.150% (3-Month USD-LIBOR + 1.330%) due 3/27/24(a)(e) | 930,107 | ||||||
700,000 | Malayan Banking Bhd, Subordinated Notes, 3.905% (5-Year USD Swap Rate + 2.542%) due 10/29/26(e) | 706,986 | ||||||
555,000 | Marsh & McLennan Cos., Inc., Senior Unsecured Notes, 4.750% due 3/15/39 | 692,472 | ||||||
Massachusetts Mutual Life Insurance Co., Subordinated Notes: | ||||||||
440,000 | 3.375% due 4/15/50(a) | 438,517 | ||||||
150,000 | 3.729% due 10/15/70(a) | 150,010 | ||||||
405,000 | Mastercard Inc., Senior Unsecured Notes, 2.950% due 3/15/51 | 402,759 | ||||||
470,000 | Mitsubishi UFJ Financial Group Inc., Senior Unsecured Notes, 0.871% (3-Month USD-LIBOR + 0.740%) due 3/2/23(e) | 473,756 | ||||||
Morgan Stanley, Senior Unsecured Notes: | ||||||||
875,000 | 3.737% (3-Month USD-LIBOR + 0.847%) due 4/24/24(e) | 929,162 | ||||||
2,145,000 | 3.700% due 10/23/24 | 2,354,721 | ||||||
1,120,000 | 1.593% (SOFRRATE + 0.879%) due 5/4/27(e) | 1,130,284 | ||||||
5,031,000 | 3.591% (3-Month USD-LIBOR + 1.340%) due 7/22/28(e) | 5,564,742 | ||||||
3,600,000 | 2.699% (SOFRATE + 1.143%) due 1/22/31(e) | 3,715,176 | ||||||
675,000 | 1.928% (SOFRRATE + 1.020%) due 4/28/32(e) | 643,482 | ||||||
Nationstar Mortgage Holdings Inc., Company Guaranteed Notes: | ||||||||
30,000 | 6.000% due 1/15/27(a) | 30,937 | ||||||
150,000 | 5.500% due 8/15/28(a) | 148,500 | ||||||
100,000 | Navient Corp., Senior Unsecured Notes, 5.000% due 3/15/27 | 101,750 | ||||||
140,000 | New York Life Insurance Co., Subordinated Notes, 3.750% due 5/15/50(a) | 149,238 | ||||||
NFP Corp.: | ||||||||
Senior Secured Notes: | ||||||||
20,000 | 7.000% due 5/15/25(a) | 21,925 | ||||||
60,000 | 4.875% due 8/15/28(a) | 60,150 | ||||||
135,000 | Senior Unsecured Notes, 6.875% due 8/15/28(a) | 139,528 | ||||||
400,000 | NongHyup Bank, Senior Unsecured Notes, 1.250% due 7/20/25(a) | 400,917 | ||||||
725,000 | Nuveen Finance LLC, Senior Unsecured Notes, 4.125% due 11/1/24(a) | 803,176 | ||||||
Office Properties Income Trust, Senior Unsecured Notes: | ||||||||
1,230,000 | 4.250% due 5/15/24 | 1,312,223 | ||||||
3,995,000 | 4.500% due 2/1/25 | 4,307,288 | ||||||
OneMain Finance Corp., Company Guaranteed Notes: | ||||||||
115,000 | 7.125% due 3/15/26 | 133,831 | ||||||
40,000 | 6.625% due 1/15/28 | 45,392 | ||||||
90,000 | 5.375% due 11/15/29 | 95,737 | ||||||
800,000 | Oversea-Chinese Banking Corp., Ltd., Subordinated Notes, 4.250% due 6/19/24 | 874,344 | ||||||
60,000 | Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co.-Issuer, Senior Secured Notes, 4.875% due 5/15/29(a) | 62,124 | ||||||
PennyMac Financial Services Inc., Company Guaranteed Notes: | ||||||||
95,000 | 5.375% due 10/15/25(a) | 99,750 | ||||||
50,000 | 4.250% due 2/15/29(a) | 48,500 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Core Fixed Income Fund (continued)
Face Amount/Units | Security | Value | ||||||
CORPORATE BONDS & NOTES - (continued) | ||||||||
Financial - 9.2% - (continued) | ||||||||
$ | 500,000 | PNC Bank N.A., Subordinated Notes, 2.700% due 10/22/29 | $ | 517,942 | ||||
435,000 | Progressive Corp., Senior Unsecured Notes, 3.200% due 3/26/30 | 470,155 | ||||||
Realogy Group LLC/Realogy Co.-Issuer Corp.: | ||||||||
65,000 | Company Guaranteed Notes, 5.750% due 1/15/29(a) | 67,910 | ||||||
105,000 | Secured Notes, 7.625% due 6/15/25(a) | 113,794 | ||||||
980,000 | Royal Bank of Canada, Senior Unsecured Notes, 2.550% due 7/16/24 | 1,038,492 | ||||||
Santander Holdings USA Inc., Senior Unsecured Notes: | ||||||||
605,000 | 3.700% due 3/28/22 | 619,715 | ||||||
435,000 | 3.400% due 1/18/23 | 453,379 | ||||||
2,992,000 | SBA Tower Trust, Asset Backed, 3.722% due 4/11/23(a) | 3,029,803 | ||||||
250,000 | Shinhan Financial Group Co., Ltd., Junior Subordinated Notes, 2.875% (5-Year CMT Index + 2.064%) (a)(b)(e) | 248,382 | ||||||
Simon Property Group LP, Senior Unsecured Notes: | ||||||||
3,000,000 | 3.500% due 9/1/25 | 3,289,397 | ||||||
1,126,000 | 3.250% due 9/13/49 | 1,071,821 | ||||||
7,000,000 | Standard Chartered PLC, Senior Unsecured Notes, 1.456% (1-Year CMT Index + 1.000%) due 1/14/27(a)(e) | 6,920,851 | ||||||
1,470,000 | State Street Corp., Senior Unsecured Notes, 3.776% (3-Month USD-LIBOR + 0.770%) due 12/3/24(e) | 1,592,315 | ||||||
355,000 | Sumitomo Mitsui Financial Group Inc., Senior Unsecured Notes, 0.930% (3-Month USD-LIBOR + 0.740%) due 1/17/23(e) | 358,017 | ||||||
4,000,000 | Sumitomo Mitsui Trust Bank Ltd., Senior Unsecured Notes, 0.850% due 3/25/24(a) | 4,017,702 | ||||||
Temasek Financial I Ltd., Company Guaranteed Notes: | ||||||||
800,000 | 1.000% due 10/6/30(a) | 735,658 | ||||||
250,000 | 1.000% due 10/6/30 | 229,893 | ||||||
1,254,000 | UBS Group AG, Senior Unsecured Notes, 1.364% (1-Year CMT Index + 1.080%) due 1/30/27(a)(e) | 1,249,899 | ||||||
5,160,000 | UDR Inc., Company Guaranteed Notes, 3.200% due 1/15/30 | 5,480,486 | ||||||
823,000 | Unifin Financiera SAB de CV, Junior Subordinated Notes, 8.875% (5-Year CMT Index + 6.308%) (b)(e) | 625,480 | ||||||
United Overseas Bank Ltd.: | ||||||||
300,000 | Junior Subordinated Notes, 3.875% (5-Year USD Swap Rate + 1.794%) (b)(e) | 310,641 | ||||||
400,000 | Subordinated Notes, 3.500% (5-Year USD Swap Rate + 2.236%) due 9/16/26(e) | 402,128 | ||||||
70,000 | Uniti Group LP/Uniti Group Finance Inc./CSL Capital LLC, Company Guaranteed Notes, 6.500% due 2/15/29(a) | 69,300 | ||||||
5,480,000 | Ventas Realty LP, Company Guaranteed Notes, 3.500% due 2/1/25 | 5,940,993 | ||||||
175,000 | VEREIT Operating Partnership LP, Company Guaranteed Notes, 2.850% due 12/15/32 | 178,268 | ||||||
25,000 | VICI Properties LP/VICI Note Co., Inc., Company Guaranteed Notes, 3.750% due 2/15/27(a) | 25,281 | ||||||
220,000 | Visa Inc., Senior Unsecured Notes, 4.300% due 12/14/45 | 269,686 | ||||||
170,000 | Vornado Realty LP, Senior Unsecured Notes, 2.150% due 6/1/26 | 171,468 | ||||||
Weingarten Realty Investors, Senior Unsecured Notes: | ||||||||
1,012,000 | 3.500% due 4/15/23 | 1,058,741 | ||||||
300,000 | 4.450% due 1/15/24 | 324,779 | ||||||
Wells Fargo & Co.: | ||||||||
Senior Unsecured Notes: | ||||||||
2,295,000 | 2.406% (SOFRRATE + 1.087%) due 10/30/25(e) | 2,413,646 | ||||||
620,000 | 3.000% due 4/22/26 | 671,082 | ||||||
425,000 | 3.584% (3-Month USD-LIBOR + 1.310%) due 5/22/28(e) | 469,587 | ||||||
495,000 | 5.013% (SOFRRATE + 4.502%) due 4/4/51(e) | 653,155 | ||||||
360,000 | Subordinated Notes, 4.900% due 11/17/45 | 440,675 | ||||||
390,000 | Welltower Inc., Senior Unsecured Notes, 2.700% due 2/15/27 | 414,274 | ||||||
40,000 | WeWork Cos., Inc., Company Guaranteed Notes, 7.875% due 5/1/25(a) | 40,300 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Core Fixed Income Fund (continued)
Face Amount/Units | Security | Value | ||||||
CORPORATE BONDS & NOTES - (continued) | ||||||||
Financial - 9.2% - (continued) | ||||||||
Willis North America Inc., Company Guaranteed Notes: | ||||||||
$ | 775,000 | 2.950% due 9/15/29 | $ | 813,392 | ||||
445,000 | 3.875% due 9/15/49 | 484,876 | ||||||
400,000 | Woori Bank, Junior Subordinated Notes, 4.250% (5-Year CMT Index + 2.664%) (b)(e) | 415,200 | ||||||
XHR LP, Senior Secured Notes: | ||||||||
100,000 | 6.375% due 8/15/25(a) | 105,793 | ||||||
90,000 | 4.875% due 6/1/29(a) | 91,467 | ||||||
Total Financial | 200,712,014 | |||||||
Government - 0.0% | ||||||||
300,000 | Malaysia Sovereign Sukuk Bhd, Unsecured Notes, 3.043% due 4/22/25 | 322,639 | ||||||
500,000 | Malaysia Wakala Sukuk Bhd, Senior Unsecured Notes, 3.075% due 4/28/51(a) | 502,676 | ||||||
Total Government | 825,315 | |||||||
Industrial - 1.9% | ||||||||
130,000 | Advanced Drainage Systems Inc., Company Guaranteed Notes, 5.000% due 9/30/27(a) | 135,486 | ||||||
200,000 | Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, Senior Unsecured Notes, 4.000% due 9/1/29(a) | 197,000 | ||||||
415,000 | Arrow Electronics Inc., Senior Unsecured Notes, 3.875% due 1/12/28 | 459,054 | ||||||
65,000 | Atkore Inc., Senior Unsecured Notes, 4.250% due 6/1/31(a) | 64,460 | ||||||
455,000 | Berry Global Inc., Senior Secured Notes, 0.950% due 2/15/24(a) | 456,952 | ||||||
Boeing Co., Senior Unsecured Notes: | ||||||||
1,025,000 | 5.040% due 5/1/27 | 1,181,636 | ||||||
460,000 | 2.950% due 2/1/30 | 464,243 | ||||||
105,000 | Bombardier Inc., Senior Unsecured Notes, 6.000% due 10/15/22(a) | 105,131 | ||||||
Builders FirstSource Inc.: | ||||||||
140,000 | Company Guaranteed Notes, 5.000% due 3/1/30(a) | 145,790 | ||||||
58,000 | Senior Secured Notes, 6.750% due 6/1/27(a) | 62,060 | ||||||
Carrier Global Corp., Senior Unsecured Notes: | ||||||||
270,000 | 2.242% due 2/15/25 | 282,289 | ||||||
5,210,000 | 3.577% due 4/5/50 | 5,294,582 | ||||||
415,000 | Caterpillar Inc., Senior Unsecured Notes, 2.600% due 4/9/30 | 436,374 | ||||||
45,000 | Clean Harbors Inc., Company Guaranteed Notes, 5.125% due 7/15/29(a) | 48,744 | ||||||
160,000 | Cornerstone Building Brands Inc., Company Guaranteed Notes, 6.125% due 1/15/29(a) | 170,800 | ||||||
470,000 | CSX Corp., Senior Unsecured Notes, 3.350% due 9/15/49 | 474,467 | ||||||
FedEx Corp., Company Guaranteed Notes: | ||||||||
390,000 | 4.250% due 5/15/30 | 447,013 | ||||||
185,000 | 4.750% due 11/15/45 | 223,064 | ||||||
50,000 | Fortress Transportation & Infrastructure Investors LLC, Senior Unsecured Notes, 5.500% due 5/1/28(a) | 51,899 | ||||||
255,000 | General Dynamics Corp., Company Guaranteed Notes, 4.250% due 4/1/40 | 301,941 | ||||||
General Electric Co., Senior Unsecured Notes: | ||||||||
685,000 | 3.625% due 5/1/30 | 752,363 | ||||||
345,000 | 5.875% due 1/14/38 | 456,630 | ||||||
180,000 | 6.875% due 1/10/39 | 261,955 | ||||||
210,000 | GFL Environmental Inc., Company Guaranteed Notes, 4.000% due 8/1/28(a) | 202,637 | ||||||
70,000 | GrafTech Finance Inc., Senior Secured Notes, 4.625% due 12/15/28(a) | 71,631 | ||||||
105,000 | Hillman Group Inc., Company Guaranteed Notes, 6.375% due 7/15/22(a) | 105,073 | ||||||
885,000 | Honeywell International Inc., Senior Unsecured Notes, 1.950% due 6/1/30 | 885,468 | ||||||
85,000 | Intelligent Packaging Ltd. Finco Inc./Intelligent Packaging Ltd. Co.-Issuer LLC, Senior Secured Notes, 6.000% due 9/15/28(a) | 87,762 | ||||||
240,000 | Jeld-Wen Inc., Company Guaranteed Notes, 4.625% due 12/15/25(a) | 244,200 | ||||||
730,000 | John Deere Capital Corp., Senior Unsecured Notes, 1.750% due 3/9/27 | 750,504 | ||||||
30,000 | Kenan Advantage Group Inc., Senior Unsecured Notes, 7.875% due 7/31/23(a) | 30,027 | ||||||
505,000 | L3Harris Technologies Inc., Senior Unsecured Notes, 3.850% due 6/15/23 | 537,992 | ||||||
300,000 | Lockheed Martin Corp., Senior Unsecured Notes, 4.090% due 9/15/52 | 357,654 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Core Fixed Income Fund (continued)
Face Amount/Units | Security | Value | ||||||
CORPORATE BONDS & NOTES - (continued) | ||||||||
Industrial - 1.9% - (continued) | ||||||||
$ | 145,000 | Norfolk Southern Corp., Senior Unsecured Notes, 3.400% due 11/1/49 | $ | 148,191 | ||||
Northrop Grumman Corp., Senior Unsecured Notes: | ||||||||
4,875,000 | 2.930% due 1/15/25 | 5,214,936 | ||||||
665,000 | 5.150% due 5/1/40 | 851,422 | ||||||
1,365,000 | Otis Worldwide Corp., Senior Unsecured Notes, 2.565% due 2/15/30 | 1,393,034 | ||||||
200,000 | Penske Truck Leasing Co. LP/PTL Finance Corp., Senior Unsecured Notes, 4.200% due 4/1/27(a) | 225,276 | ||||||
Raytheon Technologies Corp., Senior Unsecured Notes: | ||||||||
1,765,000 | 3.125% due 5/4/27 | 1,914,125 | ||||||
1,457,000 | 6.700% due 8/1/28 | 1,881,984 | ||||||
1,305,000 | Siemens Financieringsmaatschappij NV, Company Guaranteed Notes, 1.200% due 3/11/26(a) | 1,306,092 | ||||||
678,668 | Stoneway Capital Corp., Senior Secured Notes, 10.000% due 3/1/27(d)(g) | 174,757 | ||||||
145,000 | Tervita Corp., Secured Notes, 11.000% due 12/1/25(a) | 162,762 | ||||||
690,000 | Textron Inc., Senior Unsecured Notes, 2.450% due 3/15/31 | 682,166 | ||||||
55,000 | Titan Acquisition Ltd./Titan Co.-Borrower LLC, Senior Unsecured Notes, 7.750% due 4/15/26(a) | 57,003 | ||||||
360,000 | Trane Technologies Luxembourg Finance SA, Company Guaranteed Notes, 4.500% due 3/21/49 | 434,997 | ||||||
TransDigm Inc.: | ||||||||
Company Guaranteed Notes: | ||||||||
125,000 | 5.500% due 11/15/27 | 130,313 | ||||||
75,000 | 4.875% due 5/1/29(a) | 74,094 | ||||||
Senior Secured Notes: | ||||||||
35,000 | 8.000% due 12/15/25(a) | 37,856 | ||||||
220,000 | 6.250% due 3/15/26(a) | 231,898 | ||||||
140,000 | Trident TPI Holdings Inc., Company Guaranteed Notes, 6.625% due 11/1/25(a) | 142,800 | ||||||
Triumph Group Inc.: | ||||||||
109,000 | Company Guaranteed Notes, 7.750% due 8/15/25 | 111,453 | ||||||
55,000 | Secured Notes, 6.250% due 9/15/24(a) | 55,971 | ||||||
Union Pacific Corp., Senior Unsecured Notes: | ||||||||
740,000 | 2.375% due 5/20/31 | 741,759 | ||||||
2,075,000 | 3.950% due 8/15/59 | 2,247,055 | ||||||
705,000 | 2.973% due 9/16/62(a) | 634,177 | ||||||
200,000 | Vertical US Newco Inc., Senior Secured Notes, 5.250% due 7/15/27(a) | 208,000 | ||||||
510,000 | Vontier Corp., Company Guaranteed Notes, 1.800% due 4/1/26(a) | 509,266 | ||||||
210,000 | Waste Management Inc., Company Guaranteed Notes, 2.000% due 6/1/29 | 210,477 | ||||||
130,000 | Waste Pro USA Inc., Senior Unsecured Notes, 5.500% due 2/15/26(a) | 132,275 | ||||||
WRKCo Inc., Company Guaranteed Notes: | ||||||||
415,000 | 3.750% due 3/15/25 | 456,203 | ||||||
5,245,000 | 3.900% due 6/1/28 | 5,871,890 | ||||||
Total Industrial | 41,989,113 | |||||||
Technology - 2.1% | ||||||||
545,000 | Activision Blizzard Inc., Senior Unsecured Notes, 2.500% due 9/15/50 | 464,244 | ||||||
Apple Inc., Senior Unsecured Notes: | ||||||||
5,130,000 | 1.125% due 5/11/25 | 5,204,925 | ||||||
240,000 | 1.200% due 2/8/28 | 235,210 | ||||||
975,000 | 1.250% due 8/20/30 | 918,453 | ||||||
1,090,000 | 3.850% due 5/4/43 | 1,242,670 | ||||||
240,000 | 2.650% due 2/8/51 | 224,178 | ||||||
205,000 | Ascend Learning LLC, Senior Unsecured Notes, 6.875% due 8/1/25(a) | 208,844 | ||||||
45,000 | Austin BidCo Inc., Senior Unsecured Notes, 7.125% due 12/15/28(a) | 45,000 | ||||||
60,000 | Banff Merger Sub Inc., Senior Unsecured Notes, 9.750% due 9/1/26(a) | 63,525 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Core Fixed Income Fund (continued)
Face Amount/Units | Security | Value | ||||||
CORPORATE BONDS & NOTES - (continued) | ||||||||
Technology – 2.1% - (continued) | ||||||||
$ | 15,000 | Boxer Parent Co., Inc., Senior Secured Notes, 7.125% due 10/2/25(a) | $ | 16,089 | ||||
Broadcom Inc.: | ||||||||
4,035,000 | Company Guaranteed Notes, 4.110% due 9/15/28 | 4,458,108 | ||||||
1,162,000 | Senior Unsecured Notes, 3.419% due 4/15/33(a) | 1,185,020 | ||||||
45,000 | Camelot Finance SA, Senior Secured Notes, 4.500% due 11/1/26(a) | 46,631 | ||||||
125,000 | Castle US Holding Corp., Senior Unsecured Notes, 9.500% due 2/15/28(a) | 129,062 | ||||||
385,000 | Dell International LLC/EMC Corp., Senior Secured Notes, 6.020% due 6/15/26(a) | 458,980 | ||||||
1,195,000 | Fidelity National Information Services Inc., Senior Unsecured Notes, 2.250% due 3/1/31 | 1,170,482 | ||||||
2,325,000 | Fiserv Inc., Senior Unsecured Notes, 2.250% due 6/1/27 | 2,403,750 | ||||||
5,794,000 | Hewlett Packard Enterprise Co., Senior Unsecured Notes, 0.914% (3-Month USD-LIBOR + 0.720%) due 10/5/21(e) | 5,794,950 | ||||||
Intel Corp., Senior Unsecured Notes: | ||||||||
335,000 | 2.450% due 11/15/29 | 347,680 | ||||||
810,000 | 3.250% due 11/15/49 | 820,822 | ||||||
International Business Machines Corp., Senior Unsecured Notes: | ||||||||
215,000 | 3.300% due 5/15/26 | 236,628 | ||||||
1,430,000 | 1.950% due 5/15/30 | 1,408,754 | ||||||
Marvell Technology Inc., Company Guaranteed Notes: | ||||||||
795,000 | 2.450% due 4/15/28(a) | 800,149 | ||||||
610,000 | 2.950% due 4/15/31(a) | 617,342 | ||||||
770,000 | Microchip Technology Inc., Senior Secured Notes, 2.670% due 9/1/23(a) | 802,580 | ||||||
580,000 | Microsoft Corp., Senior Unsecured Notes, 2.921% due 3/17/52 | 580,514 | ||||||
235,000 | NetApp Inc., Senior Unsecured Notes, 1.875% due 6/22/25 | 242,589 | ||||||
NVIDIA Corp., Senior Unsecured Notes: | ||||||||
1,065,000 | 2.850% due 4/1/30 | 1,133,769 | ||||||
50,000 | 3.500% due 4/1/40 | 54,450 | ||||||
2,200,000 | NXP BV/NXP Funding LLC, Company Guaranteed Notes, 4.875% due 3/1/24(a) | 2,436,347 | ||||||
Oracle Corp., Senior Unsecured Notes: | ||||||||
520,000 | 1.900% due 9/15/21 | 521,851 | ||||||
1,140,000 | 2.300% due 3/25/28 | 1,164,231 | ||||||
650,000 | 2.875% due 3/25/31 | 665,877 | ||||||
1,960,000 | 3.600% due 4/1/50 | 1,929,320 | ||||||
355,000 | 3.950% due 3/25/51 | 368,669 | ||||||
230,000 | 4.100% due 3/25/61 | 240,864 | ||||||
10,000 | Rackspace Technology Global Inc., Company Guaranteed Notes, 5.375% due 12/1/28(a) | 10,091 | ||||||
395,000 | Roper Technologies Inc., Senior Unsecured Notes, 4.200% due 9/15/28 | 450,046 | ||||||
220,000 | salesforce.com Inc., Senior Unsecured Notes, 3.250% due 4/11/23 | 231,846 | ||||||
60,000 | Science Applications International Corp., Company Guaranteed Notes, 4.875% due 4/1/28(a) | 62,344 | ||||||
75,000 | Seagate HDD Cayman, Company Guaranteed Notes, 3.375% due 7/15/31(a) | 71,063 | ||||||
6,680,000 | Xilinx Inc., Senior Unsecured Notes, 2.375% due 6/1/30 | 6,698,249 | ||||||
Total Technology | 46,166,196 | |||||||
Utilities - 2.6% | ||||||||
310,000 | AEP Texas Inc., Senior Unsecured Notes, 3.450% due 1/15/50 | 308,390 | ||||||
300,000 | AES Andres BV, Company Guaranteed Notes, 5.700% due 5/4/28(a) | 309,375 | ||||||
200,000 | AES Gener SA, Junior Subordinated Notes, 6.350% (5-Year CMT Index + 4.917%) due 10/7/79(a)(e) | 212,754 | ||||||
425,000 | Alabama Power Co., Senior Unsecured Notes, 3.450% due 10/1/49 | 451,622 | ||||||
1,065,000 | American Water Capital Corp., Senior Unsecured Notes, 3.750% due 9/1/28 | 1,192,099 | ||||||
Berkshire Hathaway Energy Co., Senior Unsecured Notes: | ||||||||
775,000 | 6.125% due 4/1/36 | 1,055,086 | ||||||
1,100,000 | 5.950% due 5/15/37 | 1,483,690 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Core Fixed Income Fund (continued)
Face Amount/Units | Security | Value | ||||||
CORPORATE BONDS & NOTES - (continued) | ||||||||
Utilities - 2.6% - (continued) | ||||||||
Calpine Corp.: | ||||||||
Senior Unsecured Notes: | ||||||||
$ | 60,000 | 5.125% due 3/15/28(a) | $ | 60,450 | ||||
75,000 | 4.625% due 2/1/29(a) | 73,125 | ||||||
95,000 | Senior Secured Notes, 4.500% due 2/15/28(a) | 96,069 | ||||||
200,000 | Chile Electricity PEC SpA, Senior Secured Notes, zero coupon, due 1/25/28(a) | 163,500 | ||||||
70,000 | Cleco Corporate Holdings LLC, Senior Unsecured Notes, 4.973% due 5/1/46 | 79,753 | ||||||
360,000 | Commonwealth Edison Co., 1st Mortgage Notes, 4.000% due 3/1/48 | 414,681 | ||||||
470,000 | Dominion Energy Inc., Senior Unsecured Notes, 3.900% due 10/1/25 | 521,191 | ||||||
500,000 | Dominion Energy South Carolina Inc., 1st Mortgage Notes, 5.100% due 6/1/65 | 687,735 | ||||||
Duke Energy Carolinas LLC, 1st Mortgage Notes: | ||||||||
545,000 | 2.550% due 4/15/31 | 559,669 | ||||||
1,590,000 | 5.300% due 2/15/40 | 2,096,803 | ||||||
Duke Energy Corp., Senior Unsecured Notes: | ||||||||
5,000,000 | 0.900% due 9/15/25 | 4,955,177 | ||||||
645,000 | 2.650% due 9/1/26 | 682,764 | ||||||
208,650 | Empresa Electrica Angamos SA, Senior Secured Notes, 4.875% due 5/25/29 | 208,650 | ||||||
900,000 | Empresa Electrica Guacolda SA, Senior Unsecured Notes, 4.560% due 4/30/25 | 674,632 | ||||||
216,000 | Empresa Generadora de Electricidad Itabo SA, Company Guaranteed Notes, 7.950% due 5/11/26 | 222,480 | ||||||
200,000 | Empresas Publicas de Medellin ESP, Senior Unsecured Notes, 4.375% due 2/15/31 | 196,040 | ||||||
200,000 | ENN Energy Holdings Ltd., Senior Unsecured Notes, 3.250% due 7/24/22 | 204,453 | ||||||
495,000 | Essential Utilities Inc., Senior Unsecured Notes, 3.351% due 4/15/50 | 490,312 | ||||||
880,000 | Evergy Inc., Senior Unsecured Notes, 2.900% due 9/15/29 | 908,830 | ||||||
172,353 | Fenix Power Peru SA, Senior Unsecured Notes, 4.317% due 9/20/27 | 174,507 | ||||||
510,000 | Georgia Power Co., Senior Unsecured Notes, 2.100% due 7/30/23 | 528,467 | ||||||
750,000 | ITC Holdings Corp., Senior Unsecured Notes, 2.950% due 5/14/30(a) | 780,053 | ||||||
200,000 | JSW Hydro Energy Ltd., Senior Secured Notes, 4.125% due 5/18/31(a) | 201,400 | ||||||
Korea East-West Power Co., Ltd., Senior Unsecured Notes: | ||||||||
200,000 | 1.750% due 5/6/25(a) | 204,153 | ||||||
400,000 | 1.750% due 5/6/25 | 408,305 | ||||||
729,600 | LLPL Capital Pte Ltd., Senior Secured Notes, 6.875% due 2/4/39(a) | 850,896 | ||||||
Minejesa Capital BV, Senior Secured Notes: | ||||||||
600,000 | 4.625% due 8/10/30 | 624,300 | ||||||
300,000 | 5.625% due 8/10/37 | 311,250 | ||||||
155,000 | Monongahela Power Co., 1st Mortgage Notes, 5.400% due 12/15/43(a) | 195,759 | ||||||
NextEra Energy Capital Holdings Inc., Company Guaranteed Notes: | ||||||||
6,920,000 | 0.685% (3-Month USD-LIBOR + 0.550%) due 8/28/21(e) | 6,922,275 | ||||||
445,000 | 2.750% due 5/1/25 | 473,700 | ||||||
1,175,000 | 2.250% due 6/1/30 | 1,170,280 | ||||||
1,375,000 | NiSource Inc., Senior Unsecured Notes, 3.600% due 5/1/30 | 1,503,322 | ||||||
200,000 | NRG Energy Inc., Company Guaranteed Notes, 3.625% due 2/15/31(a) | 191,750 | ||||||
920,000 | Oglethorpe Power Corp., 1st Mortgage Notes, 5.050% due 10/1/48 | 1,121,406 | ||||||
Pacific Gas & Electric Co.: | ||||||||
1,730,000 | 1st Mortgage Notes, 2.500% due 2/1/31 | 1,598,908 | ||||||
265,000 | Senior Secured Notes, 1.367% due 3/10/23 | 265,220 | ||||||
140,000 | PacifiCorp, 1st Mortgage Notes, 3.300% due 3/15/51 | 142,862 | ||||||
75,000 | PG&E Corp., Senior Secured Notes, 5.000% due 7/1/28 | 74,625 | ||||||
140,000 | Pike Corp., Company Guaranteed Notes, 5.500% due 9/1/28(a) | 142,846 | ||||||
Puget Energy Inc., Senior Secured Notes: | ||||||||
735,000 | 3.650% due 5/15/25 | 793,441 | ||||||
830,000 | 4.100% due 6/15/30 | 915,511 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Core Fixed Income Fund (continued)
Face Amount/Units | Security | Value | ||||||
CORPORATE BONDS & NOTES - (continued) | ||||||||
Utilities - 2.6% - (continued) | ||||||||
Sempra Energy, Senior Unsecured Notes: | ||||||||
$ | 1,395,000 | 3.400% due 2/1/28 | $ | 1,516,097 | ||||
6,932,000 | 4.000% due 2/1/48 | 7,488,787 | ||||||
185,827 | Southaven Combined Cycle Generation LLC, Secured Notes, 3.846% due 8/15/33 | 207,484 | ||||||
Southern California Edison Co., 1st Mortgage Notes: | ||||||||
330,000 | 2.850% due 8/1/29 | 339,781 | ||||||
970,000 | 4.125% due 3/1/48 | 1,002,942 | ||||||
5,000,000 | 4.875% due 3/1/49 | 5,776,270 | ||||||
2,745,000 | Southern Co., Senior Unsecured Notes, 3.700% due 4/30/30 | 3,003,176 | ||||||
300,000 | State Grid Overseas Investment 2013 Ltd., Company Guaranteed Notes, 3.125% due 5/22/23 | 313,998 | ||||||
Total Utilities | 57,553,101 | |||||||
TOTAL CORPORATE BONDS & NOTES | ||||||||
(Cost - $595,743,741) | 583,741,814 | |||||||
COLLATERALIZED MORTGAGE OBLIGATIONS - 23.2% | ||||||||
523,604 | Ajax Mortgage Loan Trust, Series 2021-C, Class A, step bond to yield, 2.115% due 1/25/61(a)(g) | 530,154 | ||||||
750,000 | Alen Mortgage Trust, Series 2021-ACEN, Class D, 3.201% (1-Month USD-LIBOR + 3.100%) due 4/15/34(a)(e) | 749,999 | ||||||
Alternative Loan Trust: | ||||||||
844,141 | Series 2005-28CB, Class 1A7, 5.500% due 8/25/35 | 840,871 | ||||||
6,558,618 | Series 2005-7CB, Class 2A2, 4.958% (1-Month USD-LIBOR + 5.050%) due 3/1/38(e)(h) | 810,702 | ||||||
6,558,618 | Series 2005-7CB, Class 2A5, 0.542% (1-Month USD-LIBOR + 0.450%) due 3/1/38(e) | 5,413,729 | ||||||
3,265,355 | Series 2007-4CB, Class 1A1, 0.692% (1-Month USD-LIBOR + 0.600%) due 4/25/37(e) | 2,629,979 | ||||||
Angel Oak Mortgage Trust: | ||||||||
1,178,825 | Series 2020-R1, Class A1, 0.990% due 4/25/53(a)(e) | 1,180,376 | ||||||
1,152,284 | Series 2021-1, Class A1, 0.909% due 1/25/66(a)(e) | 1,149,773 | ||||||
835,000 | Series 2021-2, Class A1, 0.985% due 4/25/66(a)(e) | 839,295 | ||||||
Angel Oak Mortgage Trust I LLC: | ||||||||
463,126 | Series 2018-3, Class A1, 3.649% due 9/25/48(a)(e) | 466,225 | ||||||
658,812 | Series 2018-3, Class A2, 3.751% due 9/25/48(a)(e) | 662,493 | ||||||
629,117 | Series 2018-3, Class A3, 3.853% due 9/25/48(a)(e) | 631,938 | ||||||
744,246 | Ashford Hospitality Trust, Series 2018-ASHF, Class A, 1.001% (1-Month USD-LIBOR + 0.900%) due 4/15/35(a)(e) | 743,346 | ||||||
BANK: | ||||||||
12,093,554 | Series 2017-BNK4, Class XA, 1.392% due 5/15/50(e)(h) | 710,339 | ||||||
16,086,834 | Series 2018-BN10, Class XA, 0.727% due 2/15/61(e)(h) | 665,046 | ||||||
7,540,000 | Series 2020-BN30, Class A4, 1.925% due 12/15/53 | 7,398,916 | ||||||
12,706,589 | Series 2021-BN32, Class XA, 0.785% due 4/15/54(e)(h) | 770,716 | ||||||
BBCMS Mortgage Trust: | ||||||||
178,000 | Series 2017-DELC, Class C, 1.301% (1-Month USD-LIBOR + 1.200%) due 8/15/36(a)(e) | 177,890 | ||||||
203,000 | Series 2017-DELC, Class D, 1.801% (1-Month USD-LIBOR + 1.700%) due 8/15/36(a)(e) | 202,752 | ||||||
408,000 | Series 2017-DELC, Class E, 2.601% (1-Month USD-LIBOR + 2.500%) due 8/15/36(a)(e) | 405,454 | ||||||
407,000 | Series 2017-DELC, Class F, 3.601% (1-Month USD-LIBOR + 3.500%) due 8/15/36(a)(e) | 396,779 | ||||||
1,236,000 | Series 2018-TALL, Class F, 3.336% (1-Month USD-LIBOR + 3.235%) due 3/15/37(a)(e) | 1,116,777 | ||||||
1,800,000 | Series 2020-C6, Class A4, 2.639% due 2/15/53 | 1,881,794 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Core Fixed Income Fund (continued)
Face Amount/Units | Security | Value | ||||||
COLLATERALIZED MORTGAGE OBLIGATIONS - 23.2% (continued) | ||||||||
$ | 1,485,143 | Series 2020-C7, Class XA, 1.630% due 4/15/53(e)(h) | $ | 157,381 | ||||
BBCMS Trust: | ||||||||
103,488 | Series 2018-BXH, Class A, 1.101% (1-Month USD-LIBOR + 1.000%) due 10/15/37(a)(e) | 103,673 | ||||||
1,083,000 | Series 2018-CBM, Class A, 1.101% (1-Month USD-LIBOR + 1.000%) due 7/15/37(a)(e) | 1,085,141 | ||||||
3,393,486 | Bear Stearns ALT-A Trust, Series 2006-1, Class 21A2, 2.959% due 2/25/36(e) | 2,857,387 | ||||||
Benchmark Mortgage Trust: | ||||||||
35,430,733 | Series 2018-B7, Class XA, 0.439% due 5/15/53(e)(h) | 899,689 | ||||||
2,374,155 | Series 2020-B22, Class XA, 1.522% due 1/15/54(e)(h) | 284,971 | ||||||
997,000 | BHMS, Series 2018-ATLS, Class A, 1.351% (1-Month USD-LIBOR + 1.250%) due 7/15/35(a)(e) | 996,982 | ||||||
3,634,843 | BRAVO Residential Funding Trust, Series 2021-A, Class A1, step bond to yield, 1.991% due 12/31/49(a) | 3,642,105 | ||||||
BX Commercial Mortgage Trust: | ||||||||
7,734,000 | Series 2018-BIOA, Class D, 1.422% (1-Month USD-LIBOR + 1.321%) due 3/15/37(a)(e) | 7,746,276 | ||||||
4,445,000 | Series 2018-IND, Class D, 1.401% (1-Month USD-LIBOR + 1.300%) due 11/15/35(a)(e) | 4,446,333 | ||||||
280,000 | Series 2018-IND, Class E, 1.801% (1-Month USD-LIBOR + 1.700%) due 11/15/35(a)(e) | 280,084 | ||||||
599,557 | Series 2019-XL, Class D, 1.551% (1-Month USD-LIBOR + 1.450%) due 10/15/36(a)(e) | 599,918 | ||||||
3,972,064 | Series 2019-XL, Class E, 1.901% (1-Month USD-LIBOR + 1.800%) due 10/15/36(a)(e) | 3,974,557 | ||||||
3,466,188 | Series 2019-XL, Class F, 2.101% (1-Month USD-LIBOR + 2.000%) due 10/15/36(a)(e) | 3,468,469 | ||||||
BX Trust: | ||||||||
175,664 | Series 2017-SLCT, Class D, 2.151% (1-Month USD-LIBOR + 2.050%) due 7/15/34(a)(e) | 175,996 | ||||||
474,300 | Series 2017-SLCT, Class E, 3.251% (1-Month USD-LIBOR + 3.150%) due 7/15/34(a)(e) | 475,482 | ||||||
112,516 | Series 2018-EXCL, Class A, 1.189% (1-Month USD-LIBOR + 1.088%) due 9/15/37(a)(e) | 109,837 | ||||||
903,000 | Series 2018-GW, Class A, 0.901% (1-Month USD-LIBOR + 0.800%) due 5/15/35(a)(e) | 903,834 | ||||||
1,529,000 | Series 2019-OC11, Class E, 4.075% due 12/9/41(a)(e) | 1,596,078 | ||||||
1,400,000 | Series 2021-MFM1, Class D, 1.601% (1-Month USD-LIBOR + 1.500%) due 1/15/34(a)(e) | 1,399,999 | ||||||
366,000 | CAMB Commercial Mortgage Trust, Series 2019-LIFE, Class A, 1.171% (1-Month USD-LIBOR + 1.070%) due 12/15/37(a)(e) | 366,685 | ||||||
354,675 | Cascade MH Asset Trust, Series 2021-MH1, Class A1, 1.753% due 2/25/46(a)(g) | 357,650 | ||||||
19,768,725 | CD Mortgage Trust, Series 2017-CD4, Class XA, 1.285% due 5/10/50(e)(h) | 1,047,464 | ||||||
15,882,518 | CFCRE Commercial Mortgage Trust, Series 2017-C8, Class XA, 1.590% due 6/15/50(e)(h) | 1,053,799 | ||||||
2,724,000 | CGDB Commercial Mortgage Trust, Series 2019-MOB, Class E, 2.101% (1-Month USD-LIBOR + 2.000%) due 11/15/36(a)(e) | 2,711,973 | ||||||
Citigroup Commercial Mortgage Trust: | ||||||||
1,415,000 | Series 2015-GC31, Class A4, 3.762% due 6/10/48 | 1,557,671 | ||||||
34,024,456 | Series 2015-GC35, Class XA, 0.777% due 11/10/48(e)(h) | 895,782 | ||||||
7,640,000 | Series 2019-GC43, Class A4, 3.038% due 11/10/52 | 8,205,355 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Core Fixed Income Fund (continued)
Face Amount/Units | Security | Value | ||||||
COLLATERALIZED MORTGAGE OBLIGATIONS - 23.2% (continued) | ||||||||
Citigroup Mortgage Loan Trust: | ||||||||
$ | 5,747,458 | Series 2018-A, Class A1, 4.000% due 1/25/68(a)(e) | $ | 5,759,285 | ||||
2,463,052 | Series 2019-B, Class A1, 3.258% due 4/25/66(a)(e) | 2,484,363 | ||||||
3,250,750 | Cold Storage Trust, Series 2020-ICE5, Class B, 1.401% (1-Month USD-LIBOR + 1.300%) due 11/15/37(a)(e) | 3,267,757 | ||||||
586,530 | COLT Mortgage Loan Trust, Series 2021-2R, Class A1, 0.798% due 7/27/54(a)(e)(g) | 585,203 | ||||||
Commercial Mortgage Trust: | ||||||||
200,428,219 | Series 2013-CR9, Class XA, 0.067% due 7/10/45(e)(h) | 189,465 | ||||||
1,050,000 | Series 2015-CR23, Class A4, 3.497% due 5/10/48 | 1,147,246 | ||||||
800,000 | Series 2016-DC2, Class C, 4.672% due 2/10/49(e) | 859,795 | ||||||
5,650,000 | Series 2020-CX, Class A, 2.173% due 11/10/46(a) | 5,636,259 | ||||||
1,150,000 | Series 2020-CX, Class C, 2.683% due 11/10/46(a)(e) | 1,158,090 | ||||||
3,750,000 | Series 2020-SBX, Class C, 2.056% due 1/10/38(a)(e) | 3,767,328 | ||||||
Credit Suisse Commercial Mortgage Capital Trust: | ||||||||
710,572 | Series 2021-AFC1, Class A1, 0.830% due 3/25/56(a)(e) | 710,255 | ||||||
482,300 | Series 2021-RPL4, Class A1, 1.796% due 12/27/60(a)(e) | 482,859 | ||||||
Credit Suisse Mortgage Capital Certificates: | ||||||||
110,000 | Series 2019-ICE4, Class C, 1.531% (1-Month USD-LIBOR + 1.430%) due 5/15/36(a)(e) | 110,132 | ||||||
6,885,000 | Series 2019-ICE4, Class E, 2.251% (1-Month USD-LIBOR + 2.150%) due 5/15/36(a)(e) | 6,898,139 | ||||||
CSAIL Commercial Mortgage Trust: | ||||||||
1,985,982 | Series 2015-C4, Class A3, 3.544% due 11/15/48 | 2,153,600 | ||||||
1,205,000 | Series 2018-C14, Class C, 4.890% due 11/15/51(e) | 1,333,044 | ||||||
2,084,504 | CSFB Mortgage-Backed Pass-Through Certificates, Series 2005-9, Class 5A6, 5.500% due 10/25/35 | 1,649,122 | ||||||
CSMC: | ||||||||
555,000 | Series 2020-NET, Class A, 2.257% due 8/15/37(a) | 573,422 | ||||||
443,041 | Series 2021-NQM1, Class A1, 0.809% due 5/25/65(a)(e) | 442,572 | ||||||
1,589,918 | Series 2021-NQM2, Class A1, 1.179% due 2/25/66(a)(e) | 1,593,224 | ||||||
DBGS Mortgage Trust: | ||||||||
1,856,278 | Series 2018-BIOD, Class B, 0.989% (1-Month USD-LIBOR + 0.888%) due 5/15/35(a)(e) | 1,856,819 | ||||||
4,529,318 | Series 2018-BIOD, Class E, 1.801% (1-Month USD-LIBOR + 1.700%) due 5/15/35(a)(e) | 4,529,227 | ||||||
DBJPM Mortgage Trust: | ||||||||
21,195,000 | Series 2017-C6, Class XB, 0.234% due 6/10/50(e)(h) | 374,272 | ||||||
2,232,659 | Series 2020-C9, Class XA, 1.713% due 9/15/53(e)(h) | 231,064 | ||||||
610,000 | DC Office Trust, Series 2019-MTC, Class A, 2.965% due 9/15/45(a) | 646,661 | ||||||
419,919 | Deephaven Residential Mortgage Trust, Series 2021-1, Class A1, 0.715% due 5/25/65(a)(e) | 420,212 | ||||||
257,283 | Ellington Financial Mortgage Trust, Series 2021-1, Class A1, 0.797% due 2/25/66(a)(e) | 257,386 | ||||||
Federal Home Loan Mortgage Corp. (FHLMC). REMICS: | ||||||||
1,944,060 | Series 4116, Class AP, 1.350% due 8/15/42 | 1,959,337 | ||||||
5,518,778 | Series 4223, Class SB, 5.298% (1-Month USD-LIBOR + 5.431%) due 7/15/43(e) | 5,689,656 | ||||||
12,263,464 | Series 4640, Class VB, 3.000% due 3/15/37 | 12,564,353 | ||||||
8,760,457 | Series 4655, Class CZ, 3.000% due 2/15/47 | 9,196,505 | ||||||
20,401,448 | Series 4726, Class Z, 3.500% due 10/15/47 | 22,229,046 | ||||||
5,958,251 | Series 4750, Class PA, 3.000% due 7/15/46 | 6,152,985 | ||||||
6,756,279 | Series 4892, Class ES, 6.058% (1-Month USD-LIBOR + 6.150%) due 7/25/45(e)(h) | 1,600,606 | ||||||
222,647 | Federal National Mortgage Association (FNMA) REMICS, Series 2011-51, Class TO, zero coupon, due 6/25/41(i) | 207,680 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Core Fixed Income Fund (continued)
Face Amount/Units | Security | Value | ||||||
COLLATERALIZED MORTGAGE OBLIGATIONS - 23.2% (continued) | ||||||||
Federal National Mortgage Association (FNMA), Aces: | ||||||||
$ | 7,888,821 | Series 2017-M2, Class A2, 2.797% due 2/25/27(e) | $ | 8,592,204 | ||||
4,695,000 | Series 2018-M14, Class A2, 3.578% due 8/25/28(e) | 5,369,020 | ||||||
1,395,000 | Series 2018-M7, Class A2, 3.052% due 3/25/28(e) | 1,547,219 | ||||||
14,400,886 | Series 2020-M15, Class X1, 1.575% due 9/25/31(e)(h) | 1,851,853 | ||||||
20,987,469 | Series 2020-M7, Class X2, 1.242% due 3/25/31(e)(h) | 1,918,651 | ||||||
Federal National Mortgage Association (FNMA), REMICS: | ||||||||
3,235,920 | Series 2014-11, Class KZ, 2.500% due 10/25/41 | 3,343,296 | ||||||
2,067,332 | Series 2015-55, Class PD, 2.500% due 3/25/43 | 2,122,659 | ||||||
3,003,347 | Series 2017-107, Class GA, 3.000% due 8/25/45 | 3,040,050 | ||||||
7,731,019 | Series 2017-24, Class LG, 3.000% due 4/25/37 | 8,324,157 | ||||||
1,341,575 | Series 2017-32, Class CA, 3.000% due 10/25/42 | 1,345,061 | ||||||
6,417,533 | Series 2018-33, Class C, 3.000% due 5/25/48 | 6,713,851 | ||||||
2,843,356 | Series 2018-38, Class LA, 3.000% due 6/25/48 | 2,976,212 | ||||||
4,000,000 | FMC GMSR Issuer Trust, Series 2019-GT2, Class A, 4.230% due 9/25/24(a)(e) | 4,007,675 | ||||||
Freddie Mac Multifamily Structured Pass-Through Certificates: | ||||||||
114,164,569 | Series K064, Class X1, 0.604% due 3/25/27(e)(h) | 3,642,432 | ||||||
6,770,000 | Series K084, Class A2, 3.780% due 10/25/28(e) | 7,835,776 | ||||||
8,000,000 | Series K085, Class A2, 4.060% due 10/25/28(e) | 9,410,138 | ||||||
2,975,000 | Series K088, Class A2, 3.690% due 1/25/29 | 3,436,674 | ||||||
14,991,431 | Series K112, Class X1, 1.433% due 5/25/30(e)(h) | 1,678,310 | ||||||
30,171,174 | Series K116, Class X1, 1.427% due 7/25/30(e)(h) | 3,332,041 | ||||||
40,153,504 | Series K119, Class X1, 0.933% due 9/25/30(e)(h) | 2,995,223 | ||||||
22,785,387 | Series K120, Class X1, 1.039% due 10/25/30(e)(h) | 1,880,590 | ||||||
41,782,274 | Series K121, Class X1, 1.028% due 10/25/30(e)(h) | 3,410,992 | ||||||
12,792,115 | Series K122, Class X1, 0.883% due 11/25/30(e)(h) | 911,903 | ||||||
36,284,867 | Series K123, Class X1, 0.775% due 12/25/30(e)(h) | 2,292,594 | ||||||
23,973,191 | Series K124, Class X1, 0.722% due 12/25/30(e)(h) | 1,444,622 | ||||||
53,974,581 | Series K125, Class X1, 0.586% due 1/25/31(e)(h) | 2,661,983 | ||||||
30,963,947 | Series K-1519, Class X1, 0.611% due 12/25/35(e)(h) | 2,062,790 | ||||||
8,000,000 | Series KIR3, Class A2, 3.281% due 8/25/27 | 8,933,602 | ||||||
1,500,000 | Series Q001, Class A3, 3.815% due 2/25/32 | 1,675,882 | ||||||
FREMF Mortgage Trust: | ||||||||
2,000,000 | Series 2019-K102, Class B, 3.530% due 12/25/51(a)(e) | 2,169,135 | ||||||
860,000 | Series 2019-K97, Class B, 3.764% due 9/25/51(a)(e) | 946,914 | ||||||
1,885,000 | Series 2020-K105, Class B, 3.530% due 3/25/53(a)(e) | 2,013,095 | ||||||
1,695,974 | FWDSecuritization Trust, Series 2019-INV1, Class A3, 3.110% due 6/25/49(a)(e) | 1,734,505 | ||||||
GCAT Trust: | ||||||||
1,284,128 | Series 2021-NQM1, Class A1, 0.874% due 1/25/66(a)(e) | 1,281,306 | ||||||
865,000 | Series 2021-NQM2, Class A1, 0.874% due 5/25/66(a) | 864,984 | ||||||
Government National Mortgage Association (GNMA): | ||||||||
1,918,015 | Series 2012-32, Class Z, 3.500% due 3/20/42 | 2,069,739 | ||||||
$ | 17,126,315 | Series 2021-30, Class IB, 2.500% due 2/20/51(h) | 2,635,550 | |||||
20,664,647 | Series 2021-35, Class IO, 1.014% due 12/16/62(e)(h) | 1,927,158 | ||||||
23,519,378 | Series 2021-52, Class IO, 0.848% due 4/16/63(e)(h) | 1,889,373 | ||||||
21,935,874 | Series 2021-58, Class SL, 3.651% (1-Month USD-LIBOR + 3.750%) due 4/20/51(e)(h) | 2,622,853 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Core Fixed Income Fund (continued)
Face Amount/Units | Security | Value | ||||||
COLLATERALIZED MORTGAGE OBLIGATIONS - 23.2% (continued) | ||||||||
$ | 22,529,000 | Government National Mortgage Association (GNMA), 0.000% due 8/16/63(g) | $ | 1,955,968 | ||||
Great Wolf Trust: | ||||||||
500,000 | Series 2019-WOLF, Class E, 2.833% (1-Month USD-LIBOR + 2.732%) due 12/15/36(a)(e) | 489,344 | ||||||
500,000 | Series 2019-WOLF, Class F, 3.232% (1-Month USD-LIBOR + 3.131%) due 12/15/36(a)(e) | 485,547 | ||||||
GS Mortgage Securities Corp. Trust: | ||||||||
400,000 | Series 2018-TWR, Class D, 1.701% (1-Month USD-LIBOR + 1.600%) due 7/15/31(a)(e) | 394,163 | ||||||
400,000 | Series 2018-TWR, Class E, 2.201% (1-Month USD-LIBOR + 2.100%) due 7/15/31(a)(e) | 384,627 | ||||||
400,000 | Series 2018-TWR, Class F, 2.901% (1-Month USD-LIBOR + 2.800%) due 7/15/31(a)(e) | 376,423 | ||||||
400,000 | Series 2018-TWR, Class G, 4.026% (1-Month USD-LIBOR + 3.925%) due 7/15/31(a)(e) | 349,030 | ||||||
1,250,000 | Series 2019-SOHO, Class E, 1.976% (1-Month USD-LIBOR + 1.875%) due 6/15/36(a)(e) | 1,190,866 | ||||||
GS Mortgage Securities Trust: | ||||||||
705,000 | Series 2015-GC30, Class A4, 3.382% due 5/10/50 | 764,708 | ||||||
10,418,026 | Series 2017-GS7, Class XA, 1.116% due 8/10/50(e)(h) | 545,720 | ||||||
1,400,000 | Series 2018-GS9, Class A4, 3.992% due 3/10/51(e) | 1,584,600 | ||||||
1,200,000 | Series 2018-GS9, Class C, 4.360% due 3/10/51(e) | 1,314,824 | ||||||
1,500,000 | Series 2020-GC45, Class A5, 2.911% due 2/13/53 | 1,598,027 | ||||||
6,683,350 | HarborView Mortgage Loan Trust, Series 2006-14, Class 2A1A, 0.248% (1-Month USD-LIBOR + 0.150%) due 1/25/47(e) | 6,272,847 | ||||||
1,011,224 | HPLY Trust, Series 2019-HIT, Class F, 3.251% (1-Month USD-LIBOR + 3.150%) due 11/15/36(a)(e) | 973,173 | ||||||
IMT Trust: | ||||||||
4,689,388 | Series 2017-APTS, Class BFL, 1.051% (1-Month USD-LIBOR + 0.950%) due 6/15/34(a)(e) | 4,685,874 | ||||||
774,524 | Series 2017-APTS, Class CFL, 1.201% (1-Month USD-LIBOR + 1.100%) due 6/15/34(a)(e) | 774,598 | ||||||
33,247 | JP Morgan Chase Commercial Mortgage Securities Corp., Series 2017-FL10, Class D, 2.001% (1-Month USD-LIBOR + 1.900%) due 6/15/32(a)(e) | 33,173 | ||||||
JP Morgan Chase Commercial Mortgage Securities Trust: | ||||||||
446,354 | Series 2018-LAQ, Class A, 1.101% (1-Month USD-LIBOR + 1.000%) due 6/15/32(a)(e) | 446,651 | ||||||
805,000 | Series 2018-WPT, Class FFX, 5.542% due 7/5/33(a)(e) | 813,905 | ||||||
1,950,000 | Series 2019-OSB, Class A, 3.397% due 6/5/39(a) | 2,133,265 | ||||||
823,000 | Series 2020-ACE, Class C, 3.694% due 1/10/37(a)(e) | 793,536 | ||||||
805,000 | Series 2020-LOOP, Class E, 3.861% due 12/5/38(a)(e) | 789,928 | ||||||
JP Morgan Mortgage Trust: | ||||||||
3,251,586 | Series 2006-S1, Class 2A9, 6.500% due 4/25/36 | 3,347,112 | ||||||
7,386,482 | Series 2006-S4, Class A7, 6.000% due 1/25/37 | 4,776,712 | ||||||
1,612,099 | Series 2021-3, Class B1, 2.963% due 7/1/51(a)(e) | 1,659,619 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Core Fixed Income Fund (continued)
Face Amount/Units | Security | Value | ||||||
COLLATERALIZED MORTGAGE OBLIGATIONS - 23.2% (continued) | ||||||||
JPMBB Commercial Mortgage Securities Trust: | ||||||||
$ | 380,000 | Series 2014-C26, Class C, 4.379% due 1/15/48(e) | $ | 397,936 | ||||
1,667,000 | Series 2015-C27, Class C, 4.306% due 2/15/48(e) | 1,711,865 | ||||||
2,200,000 | Series 2015-C28, Class A4, 3.227% due 10/15/48 | 2,366,012 | ||||||
1,205,000 | Series 2015-C28, Class C, 4.155% due 10/15/48(e) | 1,247,983 | ||||||
529,000 | Series 2016-C1, Class A5, 3.576% due 3/15/49 | 582,482 | ||||||
1,100,000 | JPMCC Commercial Mortgage Securities Trust, Series 2017-JP6, Class A5, 3.490% due 7/15/50 | 1,217,169 | ||||||
1,123,000 | JPMDB Commercial Mortgage Securities Trust, Series 2020-COR7, Class B, 3.294% due 5/13/53(e) | 1,197,878 | ||||||
Legacy Mortgage Asset Trust: | ||||||||
1,041,124 | Series 2019-SL3, Class A, step bond to yield, 3.474% due 11/25/61(a) | 1,050,416 | ||||||
480,343 | Series 2021-GS2, Class A1, step bond to yield, 1.750% due 4/25/61(a) | 481,395 | ||||||
605,000 | Series 2021-GS3, Class A1, step bond to yield, 1.750% due 7/25/61(a) | 605,253 | ||||||
4,578,311 | Lehman XS Trust, Series 2007-4N, Class 1A3, 0.332% (1-Month USD-LIBOR + 0.240%) due 3/25/47(e) | 4,485,272 | ||||||
3,235,000 | Life Mortgage Trust, Series 2021-BMR, Class D, 1.501% (1-Month USD-LIBOR + 1.400%) due 3/15/38(a)(e) | 3,245,128 | ||||||
6,851,669 | Merrill Lynch Mortgage Investors Trust, Series 2006-AF1, Class AF1, 5.750% due 8/25/36 | 3,967,672 | ||||||
903,936 | MFA Trust, Series 2021-NQM1, Class A1, 1.153% due 4/25/65(a)(e) | 904,053 | ||||||
Morgan Stanley Bank of America Merrill Lynch Trust: | ||||||||
2,000,000 | Series 2014-C17, Class C, 4.479% due 8/15/47(e) | 2,139,626 | ||||||
17,392,214 | Series 2014-C19, Class XA, 0.999% due 12/15/47(e)(h) | 498,487 | ||||||
2,583,782 | Series 2015-C20, Class A4, 3.249% due 2/15/48 | 2,782,566 | ||||||
1,405,000 | Series 2015-C26, Class A5, 3.531% due 10/15/48 | 1,541,226 | ||||||
1,652,000 | Series 2016-C31, Class C, 4.290% due 11/15/49(e) | 1,709,647 | ||||||
Morgan Stanley Capital I Trust: | ||||||||
16,375,928 | Series 2016-UB11, Class XA, 1.498% due 8/15/49(e)(h) | 930,791 | ||||||
13,903,349 | Series 2016-UB12, Class XA, 0.739% due 12/15/49(e)(h) | 394,462 | ||||||
1,083,000 | Series 2018-SUN, Class A, 1.001% (1-Month USD-LIBOR + 0.900%) due 7/15/35(a)(e) | 1,083,626 | ||||||
1,356,000 | Series 2019-H7, Class AS, 3.524% due 7/15/52 | 1,472,206 | ||||||
583,000 | Series 2019-H7, Class B, 3.725% due 7/15/52 | 636,205 | ||||||
22,093,667 | Series 2019-L3, Class XA, 0.642% due 11/15/52(e)(h) | 1,054,820 | ||||||
7,792,289 | Series 2020-HR8, Class XA, 1.845% due 7/15/53(e)(h) | 1,078,175 | ||||||
806,000 | Series 2020-L4, Class B, 3.082% due 2/15/53 | 836,789 | ||||||
2,703,758 | Morgan Stanley Residential Mortgage Loan Trust, Series 2020-RPL1, Class A1, 2.693% due 10/25/60(a)(e) | 2,703,340 | ||||||
1,321,000 | MRCD Mortgage Trust, Series 2019-PARK, Class G, 2.718% due 12/15/36(a) | 1,269,037 | ||||||
New Residential Mortgage Loan Trust: | ||||||||
1,296,052 | Series 2020-RPL2, Class A1, 3.578% due 8/25/25(a)(e) | 1,321,372 | ||||||
915,403 | Series 2021-NQ1R, Class A1, 0.943% due 7/25/55(a)(e) | 917,629 | ||||||
710,000 | Series 2021-NQ2R, Class A1, 0.941% due 9/25/58(a)(e)(g) | 713,017 | ||||||
1,440,000 | NMLT Trust, Series 2021-INV1, Class A1, 1.185% due 5/25/56(a)(f)(g) | 1,439,997 | ||||||
1,538,502 | OBX Trust, Series 2021-NQM1, Class A1, 1.072% due 2/25/66(a)(e) | 1,537,500 | ||||||
PMT Credit Risk Transfer Trust: | ||||||||
1,678,706 | Series 2019-2R, Class A, 2.840% (1-Month USD-LIBOR + 2.750%) due 5/27/23(a)(e) | 1,659,991 | ||||||
1,041,803 | Series 2019-3R, Class A, 2.790% (1-Month USD-LIBOR + 2.700%) due 10/27/22(a)(e) | 1,044,414 | ||||||
PRPM LLC: | ||||||||
9,105,016 | Series 2020-3, Class A1, step bond to yield, 2.857% due 9/25/25(a) | 9,161,085 | ||||||
2,843,369 | Series 2021-2, Class A1, 2.115% due 3/25/26(a)(e) | 2,851,706 | ||||||
745,000 | Series 2021-3, Class A1, step bond to yield, 1.867% due 4/25/26(a)(g) | 749,853 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Core Fixed Income Fund (continued)
Face Amount/Units | Security | Value | ||||||
COLLATERALIZED MORTGAGE OBLIGATIONS - 23.2% (continued) | ||||||||
$ | 961,437 | Series 2021-4, Class A1, step bond to yield, 1.867% due 4/25/26(a) | $ | 962,041 | ||||
1,624,952 | Rali Trust, Series 2005-QS13, Class 1A3, 5.500% due 9/25/35 | 1,572,414 | ||||||
4,497,841 | Residential Asset Securitization Trust, Series 2005-A8CB, Class A6, 5.000% due 7/25/35 | 3,693,732 | ||||||
Residential Mortgage Loan Trust: | ||||||||
3,100,000 | Series 2020-1, Class M1, 3.242% due 2/25/24(a)(e) | 3,154,605 | ||||||
771,487 | Series 2021-1R, Class A1, 0.859% due 1/25/65(a)(e) | 770,843 | ||||||
Seasoned Credit Risk Transfer Trust: | ||||||||
5,898,779 | Series 2019-4, Class MV, 3.000% due 2/25/59 | 6,302,518 | ||||||
878,152 | Series 2020-1, Class MT, 2.500% due 8/25/59 | 912,309 | ||||||
8,660,212 | Series 2020-2, Class MT, 2.000% due 11/25/59 | 8,770,719 | ||||||
9,074,360 | Series 2020-3, Class M5TW, 3.000% due 5/25/60 | 9,650,779 | ||||||
7,197,407 | Seasoned Loans Structured Transaction Trust, Series 2020-2, Class A1D, 1.750% due 9/25/30 | 7,347,630 | ||||||
3,640,000 | SFAVE Commercial Mortgage Securities Trust, Series 2015-5AVE, Class B, 4.388% due 1/5/43(a)(e) | 3,625,087 | ||||||
165,000 | SG Commercial Mortgage Securities Trust, Series 2016-C5, Class B, 3.933% due 10/10/48 | 174,213 | ||||||
1,473,925 | STAR Trust, Series 2021-1, Class A1, 1.219% due 5/25/65(a)(e) | 1,479,576 | ||||||
580,000 | Starwood Mortgage Residential Trust, Series 2021-2, Class A1, 0.943% due 5/25/65(a)(e) | 580,413 | ||||||
840,000 | Toorak Mortgage Corp. Ltd., Series 2021-1, Class A1, step bond to yield, 2.240% due 6/25/24(a) | 839,916 | ||||||
1,666,140 | Towd Point Mortgage Trust, Series 2021-R1, Class A1, 2.924% due 11/30/60(a)(e) | 1,700,403 | ||||||
UBS Commercial Mortgage Trust: | ||||||||
5,162,979 | Series 2017-C1, Class XA, 1.522% due 6/15/50(e)(h) | 357,721 | ||||||
1,815,000 | Series 2017-C7, Class A3, 3.418% due 12/15/50 | 1,986,959 | ||||||
4,045,943 | UBS-Barclays Commercial Mortgage Trust, Series 2013-C5, Class XA, 0.910% due 3/10/46(a)(e)(h) | 44,102 | ||||||
955,000 | VCAT Asset Securitization LLC, Series 2021-NPL3, Class A1, step bond to yield, 1.743% due 5/25/51(a) | 955,305 | ||||||
325,682 | VCAT LLC, Series 2021-NPL2, Class A1, step bond to yield, 2.115% due 3/27/51(a)(g) | 325,868 | ||||||
Verus Securitization Trust: | ||||||||
6,400,000 | Series 2019-INV2, Class M1, 3.499% due 7/25/59(a)(e) | 6,520,047 | ||||||
630,225 | Series 2021-2, Class A1, 1.031% due 2/25/66(a)(e) | 630,735 | ||||||
844,617 | Series 2021-R1, Class A1, 0.820% due 10/25/63(a)(e) | 841,268 | ||||||
872,163 | Series 2021-R2, Class A1, 0.918% due 2/25/64(a)(e) | 874,694 | ||||||
653,103 | VOLT C LLC, Series 2021-NPL9, Class A1, step bond to yield, 1.992% due 5/25/51(a) | 653,624 | ||||||
1,198,468 | VOLT XCIII LLC, Series 2021-NPL2, Class A1, step bond to yield, 1.893% due 2/27/51(a)(g) | 1,193,434 | ||||||
1,880,139 | VOLT XCIV LLC, Series 2021-NPL3, Class A1, step bond to yield, 2.240% due 2/27/51(a)(g) | 1,883,416 | ||||||
3,767,327 | VOLT XCIX LLC, Series 2021-NPL8, Class A1, step bond to yield, 2.116% due 4/25/51(a) | 3,770,870 | ||||||
2,640,128 | VOLT XCVII LLC, Series 2021-NPL6, Class A1, step bond to yield, 2.240% due 4/25/51(a)(g) | 2,642,194 | ||||||
435,610 | VOLT XCVIII LLC, Series 2021-NPL7, Class A1, step bond to yield, 2.116% due 4/25/51(a)(g) | 436,013 | ||||||
Wells Fargo Commercial Mortgage Trust: | ||||||||
1,400,000 | Series 2016-BNK1, Class A3, 2.652% due 8/15/49 | 1,487,124 | ||||||
9,971,786 | Series 2017-C38, Class XA, 1.020% due 7/15/50(e)(h) | 477,243 | ||||||
800,000 | Series 2018-C45, Class ASB, 4.147% due 6/15/51 | 898,646 | ||||||
806,000 | Series 2020-C55, Class AS, 2.937% due 2/15/53 | 838,812 | ||||||
9,322,502 | Series 2020-C58, Class XA, 1.886% due 7/15/53(e)(h) | 1,290,038 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Core Fixed Income Fund (continued)
Face Amount/Units | Security | Value | ||||||
COLLATERALIZED MORTGAGE OBLIGATIONS - 23.2% (continued) | ||||||||
$ | 4,454,207 | Series 2021-SAVE, Class D, 2.601% (1-Month USD-LIBOR + 2.500%) due 2/15/40(a)(e) | $ | 4,493,298 | ||||
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost - $516,042,350) | 507,465,885 | |||||||
U.S. GOVERNMENT OBLIGATIONS - 22.2% | ||||||||
U.S. Treasury Bonds: | ||||||||
2,150,000 | 1.875% due 2/15/41 | 2,036,117 | ||||||
4,145,000 | 2.250% due 5/15/41 | 4,176,735 | ||||||
7,785,000 | 3.625% due 2/15/44 | 9,737,940 | ||||||
12,905,000 | 3.375% due 5/15/44 | 15,552,541 | ||||||
1,390,000 | 2.250% due 8/15/46 | 1,379,412 | ||||||
8,500,000 | 3.000% due 2/15/48 | 9,722,207 | ||||||
7,800,000 | 3.125% due 5/15/48 | 9,132,094 | ||||||
3,000,000 | 2.000% due 2/15/50 | 2,809,102 | ||||||
17,800,000 | 1.875% due 2/15/51 | 16,184,094 | ||||||
38,685,000 | 2.375% due 5/15/51 | 39,434,522 | ||||||
1,689,827 | U.S. Treasury Inflation Indexed Bonds, 0.875% due 2/15/47 | 2,098,554 | ||||||
4,726,433 | U.S. Treasury Inflation Indexed Notes, 0.125% due 7/15/30 | 5,218,342 | ||||||
U.S. Treasury Notes: | ||||||||
50,200,000 | 0.125% due 11/30/22 | 50,213,727 | ||||||
24,115,000 | 0.125% due 4/30/23 | 24,107,464 | ||||||
16,700,000 | 0.250% due 11/15/23 | 16,720,223 | ||||||
68,970,000 | 0.125% due 12/15/23 (j) | 68,805,658 | ||||||
17,500,000 | 0.375% due 4/15/24 | 17,543,750 | ||||||
25,980,000 | 0.250% due 5/15/24 | 25,939,406 | ||||||
6,300,000 | 2.125% due 7/31/24 | 6,650,437 | ||||||
11,000,000 | 0.250% due 6/30/25 | 10,850,039 | ||||||
38,120,000 | 0.250% due 8/31/25 | 37,499,061 | ||||||
12,400,000 | 2.250% due 11/15/25 | 13,256,375 | ||||||
8,240,000 | 0.375% due 11/30/25 | 8,122,194 | ||||||
16,760,000 | 0.750% due 4/30/26 | 16,728,575 | ||||||
3,150,000 | 1.625% due 5/15/26 | 3,275,385 | ||||||
9,500,000 | 0.500% due 6/30/27 | 9,176,406 | ||||||
3,326,000 | 2.750% due 2/15/28 | 3,658,860 | ||||||
8,635,000 | 2.875% due 5/15/28 | 9,569,334 | ||||||
13,000,000 | 2.375% due 5/15/29 | 13,945,547 | ||||||
5,400,000 | 0.625% due 5/15/30 | 4,987,195 | ||||||
28,610,000 | 1.625% due 5/15/31 | 28,663,644 | ||||||
TOTAL U.S. GOVERNMENT OBLIGATIONS (Cost - $491,270,838) | 487,194,940 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Core Fixed Income Fund (continued)
Face Amount/Units | Security | Value | ||||||
MORTGAGE-BACKED SECURITIES - 19.7% | ||||||||
FHLMC - 2.8% | ||||||||
Federal Home Loan Mortgage Corp. (FHLMC)., Gold: | ||||||||
$ | 6,920,311 | 2.000% due 3/1/51 | $ | 6,996,311 | ||||
6,600,000 | 2.500% due 5/1/51 | 6,841,036 | ||||||
3,944,105 | 3.000% due 2/1/33 - 1/1/51 | 4,168,129 | ||||||
1,969,905 | 3.500% due 8/1/43 - 10/1/49 | 2,111,992 | ||||||
2,809,316 | 4.000% due 10/1/44 - 12/1/47 | 3,038,352 | ||||||
751,355 | 4.500% due 5/1/48 | 811,517 | ||||||
Federal Home Loan Mortgage Corp. (FHLMC)., Gold: | ||||||||
7,660,248 | 3.000% due 3/1/35 - 2/1/47 | 8,155,215 | ||||||
17,314,337 | 3.500% due 12/1/46 - 1/1/48 | 18,645,686 | ||||||
96,888 | 4.000% due 12/1/47 | 104,068 | ||||||
Federal Home Loan Mortgage Corp. (FHLMC)., Gold UMBS: | ||||||||
6,433,584 | 3.000% due 4/1/50 | 6,806,008 | ||||||
3,905,540 | 3.030% due 1/1/50 | 4,160,716 | ||||||
TOTAL FHLMC | 61,839,030 | |||||||
FNMA - 14.4% | ||||||||
Federal National Mortgage Association (FNMA), UMBS: | ||||||||
1,229,000 | 1.500% due 6/1/36 - 6/1/51(k) | 1,219,632 | ||||||
46,430,000 | 2.000% due 6/1/36 - 6/1/51(k) | 46,946,095 | ||||||
44,070,000 | 2.000% due 7/1/50 (k) | 44,411,724 | ||||||
15,696,472 | 2.000% due 8/1/50 - 5/1/51 | 15,886,765 | ||||||
7,229,767 | 2.000% due 10/1/50 | 7,255,445 | ||||||
3,700,000 | 2.310% due 12/1/29 | 3,910,274 | ||||||
1,700,000 | 2.490% due 9/1/28 | 1,826,267 | ||||||
61,129,740 | 2.500% due 6/1/30 - 6/1/51 | 63,461,728 | ||||||
3,157,000 | 2.500% due 6/1/36 - 6/1/51(k) | 3,287,810 | ||||||
3,367,251 | 2.652% due 5/1/44 (e) | 3,565,056 | ||||||
4,443,000 | 2.760% due 9/1/31 | 4,807,040 | ||||||
10,900,000 | 2.960% due 9/1/34 | 11,774,368 | ||||||
25,885,042 | 3.000% due 2/1/30 - 1/1/51 | 27,441,643 | ||||||
5,592,207 | 3.000% due 4/1/53 | 6,020,108 | ||||||
35,445,000 | 3.000% due 6/1/51 - 7/1/51(k) | 36,998,482 | ||||||
7,255,238 | 3.500% due 7/1/32 - 7/1/50 | 7,743,478 | ||||||
5,131,000 | 3.500% due 6/1/51 (k) | 5,415,508 | ||||||
8,500,000 | 3.710% due 8/1/30 | 9,762,581 | ||||||
2,231,004 | 4.000% due 11/1/38 - 2/1/48 | 2,411,329 | ||||||
4,035,000 | 4.000% due 6/1/51 (k) | 4,310,108 | ||||||
527,910 | 4.500% due 5/1/48 | 574,681 | ||||||
7,119,000 | 4.500% due 6/1/51 (k) | 7,681,147 | ||||||
TOTAL FNMA | 316,711,269 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Core Fixed Income Fund (continued)
Face Amount/Units | Security | Value | ||||||
MORTGAGE-BACKED SECURITIES - 19.7% (continued) | ||||||||
GNMA - 2.5% | ||||||||
Government National Mortgage Association (GNMA): | ||||||||
$ | 1,525,000 | 2.000% due 6/1/51 (k) | $ | 1,550,586 | ||||
24,875,000 | 2.500% due 6/1/51 (k) | 25,759,161 | ||||||
5,420,000 | 3.000% due 6/1/51 - 7/1/51(k) | 5,653,860 | ||||||
6,010,000 | 3.500% due 6/1/51 (k) | 6,312,500 | ||||||
525,000 | 4.000% due 6/1/51 (k) | 556,887 | ||||||
2,385,000 | 4.500% due 6/1/51 (k) | 2,553,022 | ||||||
Government National Mortgage Association (GNMA) II: | ||||||||
1,600,000 | 2.500% due 5/20/51 | 1,658,958 | ||||||
722,057 | 3.000% due 4/20/31 - 12/20/50 | 761,361 | ||||||
3,321,278 | 3.500% due 8/20/42 - 9/20/50 | 3,528,051 | ||||||
4,905,825 | 4.000% due 10/20/44 - 3/20/49 | 5,295,013 | ||||||
1,171,177 | 4.500% due 7/20/49 - 8/20/49 | 1,254,007 | ||||||
TOTAL GNMA | 54,883,406 | |||||||
TOTAL MORTGAGE-BACKED SECURITIES (Cost - $431,056,534) | 433,433,705 | |||||||
ASSET-BACKED SECURITIES - 8.6% | ||||||||
1,753,679 | Aaset Trust, Series 2019-2, Class A, 3.376% due 10/16/39(a) | 1,756,495 | ||||||
1,773,174 | AASET U.S. Ltd., Series 2018-1A, Class A, 3.844% due 1/16/38(a) | 1,698,907 | ||||||
500,000 | AGL Core CLO 5 Ltd., Series 2020-5A, Class B, 2.968% (3-Month USD-LIBOR + 2.780%) due 7/20/30(a)(e) | 500,842 | ||||||
1,600,000 | AIG CLO, Series 2021-1A, Class A, 1.284% (3-Month USD-LIBOR + 1.100%) due 4/22/34(a)(e) | 1,600,794 | ||||||
500,000 | Allegro CLO X Ltd., Series 2019-1A, Class AR, 1.338% (3-Month USD-LIBOR + 1.150%) due 7/20/32(a)(e) | 500,035 | ||||||
500,000 | ALM 2020 Ltd., Series 2020-1A, Class A2, 2.034% (3-Month USD-LIBOR + 1.850%) due 10/15/29(a)(e) | 498,260 | ||||||
4,000,000 | AMSR Trust, Series 2020-SFR4, Class E2, 2.456% due 11/17/37(a) | 3,987,933 | ||||||
1,000,000 | Anchorage Capital CLO 4-R Ltd., Series 2014-4RA, Class B, 1.684% (3-Month USD-LIBOR + 1.500%) due 1/28/31(a)(e) | 997,152 | ||||||
500,000 | Apidos CLO XII, Series 2013-12A, Class CR, 1.984% (3-Month USD-LIBOR + 1.800%) due 4/15/31(a)(e) | 495,593 | ||||||
260,000 | Arbor Realty Collateralized Loan Obligation Ltd., Series 2021-FL2, Class A, 1.200% (1-Month USD-LIBOR + 1.100%) due 5/15/36(a)(e)(g) | 260,003 | ||||||
1,679,979 | Asset Backed Securities Corp. Home Equity Loan Trust, Series 2007-HE2, Class A4, 0.322% (1-Month USD-LIBOR + 0.230%) due 5/25/37(e) | 1,364,391 | ||||||
500,000 | Assurant CLO Ltd., Series 2019-5A, Class A1, 1.574% (3-Month USD-LIBOR + 1.390%) due 1/15/33(a)(e) | 500,614 | ||||||
570,000 | Avant Loans Funding Trust, Series 2021-REV1, Class A, 1.210% due 7/15/30(a) | 569,905 | ||||||
Avis Budget Rental Car Funding AESOP LLC: | ||||||||
5,915,000 | Series 2017-1A, Class A, 3.070% due 9/20/23(a) | 6,093,759 | ||||||
410,000 | Series 2017-2A, Class A, 2.970% due 3/20/24(a) | 426,986 | ||||||
1,440,000 | Bain Capital Credit CLO, Series 2019-1A, Class AR, 0.000% (3-Month USD-LIBOR + 1.130%) due 4/19/34(a)(e) | 1,439,636 | ||||||
1,000,000 | Bain Capital Credit CLO Ltd., Series 2019-3A, Class B2, 2.056% (3-Month USD-LIBOR + 1.870%) due 10/21/32(a)(e) | 1,000,968 | ||||||
1,000,000 | Battalion CLO XI Ltd., Series 2017-11A, Class AR, 1.326% (3-Month USD-LIBOR + 1.150%) due 4/24/34(a)(e) | 999,747 | ||||||
1,085,000 | BlueMountain CLO XXIV Ltd., Series 2019-24A, Class AR, 0.000% (3-Month USD-LIBOR + 1.100%) due 4/20/34(a)(e) | 1,085,099 | ||||||
2,055,000 | BlueMountain CLO XXXI Ltd., Series 2021-31A, Class A1, 0.000% (3-Month USD-LIBOR + 1.150%) due 4/19/34(a)(e)(g) | 2,055,208 |
Schedules of Investments |
May 28, 2021# (unaudited) |
Destinations Core Fixed Income Fund (continued) |
Face Amount/Units | Security | Value | ||||||
ASSET-BACKED SECURITIES - 8.6% (continued) | ||||||||
$ | 775,000 | BSPRT Issuer Ltd., Series 2021-FL6, Class A, 1.201% (1-Month USD-LIBOR + 1.100%) due 3/15/36(a)(e) | $ | 775,000 | ||||
7,600,000 | Capital One Multi-Asset Execution Trust, Series 2019-A3, Class A3, 2.060% due 8/15/28 | 7,981,279 | ||||||
Carlyle Global Market Strategies CLO Ltd.: | ||||||||
1,973,747 | Series 2014-3RA, Class A1A, 1.231% (3-Month USD-LIBOR + 1.050%) due 7/27/31(a)(e) | 1,974,764 | ||||||
1,000,000 | Series 2016-1A, Class A1R2, 1.300% (3-Month USD-LIBOR + 1.140%) due 4/20/34(a)(e) | 1,000,757 | ||||||
Carlyle U.S. CLO Ltd.: | ||||||||
765,000 | Series 2021-2A, Class A1, 1.283% (3-Month USD-LIBOR + 1.080%) due 4/20/34(a)(e) | 765,567 | ||||||
1,537,000 | Series 2021-3SA, Class A1, 1.263% (3-Month USD-LIBOR + 1.060%) due 4/15/34(a)(e) | 1,538,100 | ||||||
1,700,000 | Carmax Auto Owner Trust, Series 2021-1, Class C, 0.940% due 12/15/26 | 1,688,866 | ||||||
2,210,398 | Carrington Mortgage Loan Trust, Series 2006-NC4, Class A3, 0.252% (1-Month USD-LIBOR + 0.160%) due 10/25/36(e) | 2,137,897 | ||||||
1,416,790 | Castlelake Aircraft Securitization Trust, Series 2018-1, Class A, 4.125% due 6/15/43(a) | 1,415,256 | ||||||
500,000 | CBAM Ltd., Series 2019-10A, Class A1R, 1.308% (3-Month USD-LIBOR + 1.120%) due 4/20/32(a)(e) | 499,873 | ||||||
2,660,000 | Cedar Funding IV CLO Ltd., Series 2014-4A, Class ARR, 0.000% (3-Month USD-LIBOR + 1.160%) due 7/23/34(a)(e)(g) | 2,660,000 | ||||||
115,000 | CF Hippolyta LLC, Series 2021-1A, Class B1, 1.980% due 3/15/61(a) | 115,938 | ||||||
1,000,000 | CIFC Funding Ltd., Series 2020-1A, Class B, 2.484% (3-Month USD-LIBOR + 2.300%) due 7/15/32(a)(e) | 1,000,603 | ||||||
4,973,341 | CLI Funding VI LLC, Series 2019-1A, Class A, 3.710% due 5/18/44(a) | 5,021,721 | ||||||
6,402,282 | CLI Funding VIII LLC, Series 2021-1A, Class A, 1.640% due 2/18/46(a) | 6,333,174 | ||||||
465,000 | Credit Acceptance Auto Loan Trust, Series 2021-3A, Class A, 1.000% due 5/15/30(a) | 464,882 | ||||||
5,099,043 | Credit-Based Asset Servicing & Securitization LLC, Series 2006-CB4, Class AV4, 0.572% (1-Month USD-LIBOR + 0.480%) due 5/25/36(e) | 4,187,035 | ||||||
685,000 | Domino's Pizza Master Issuer LLC, Series 2021-1A, Class A2I, 2.662% due 4/25/51(a) | 697,029 | ||||||
2,000,000 | Dryden 53 CLO Ltd., Series 2017-53A, Class A, 1.304% (3-Month USD-LIBOR + 1.120%) due 1/15/31(a)(e) | 1,999,957 | ||||||
500,000 | Dryden 75 CLO Ltd., Series 2019-75A, Class AR2, 1.242% (3-Month USD-LIBOR + 1.040%) due 4/15/34(a)(e) | 500,388 | ||||||
Exeter Automobile Receivables Trust: | ||||||||
600,000 | Series 2021-1A, Class D, 1.080% due 11/16/26 | 598,065 | ||||||
900,000 | Series 2021-1A, Class E, 2.210% due 2/15/28(a) | 888,354 | ||||||
6,543,558 | First Franklin Mortgage Loan Trust, Series 2007-FF2, Class A1, 0.232% (1-Month USD-LIBOR + 0.140%) due 3/25/37(e) | 4,348,206 | ||||||
2,685,000 | Ford Credit Auto Lease Trust, Series 2021-A, Class C, 0.780% due 9/15/25 | 2,690,204 | ||||||
Ford Credit Auto Owner Trust: | ||||||||
6,750,000 | Series 2020-1, Class C, 2.540% due 8/15/31(a) | 7,070,637 | ||||||
3,650,000 | Series 2020-2, Class C, 1.740% due 4/15/33(a) | 3,682,469 | ||||||
500,000 | Fort Washington CLO, Series 2019-1A, Class A, 1.608% (3-Month USD-LIBOR + 1.420%) due 10/20/32(a)(e) | 500,521 | ||||||
560,000 | FS RIALTO, Series 2021-FL2, Class A, 1.401% (1-Month USD-LIBOR + 1.300%) due 4/16/28(a)(e) | 560,175 | ||||||
GM Financial Automobile Leasing Trust: | ||||||||
500,000 | Series 2020-1, Class D, 2.280% due 6/20/24 | 510,111 | ||||||
1,000,000 | Series 2020-2, Class D, 3.210% due 12/20/24 | 1,044,178 | ||||||
2,750,000 | GM Financial Consumer Automobile Receivables Trust, Series 2021-1, Class C, 1.040% due 5/17/27 | 2,750,672 | ||||||
785,000 | Greystone CRE Notes Ltd., Series 2019-FL2, Class C, 2.101% (1-Month USD-LIBOR + 2.000%) due 9/15/37(a)(e) | 781,075 |
Schedules of Investments |
May 28, 2021# (unaudited) |
Destinations Core Fixed Income Fund (continued) |
Face Amount/Units | Security | Value | ||||||
ASSET-BACKED SECURITIES - 8.6% (continued) | ||||||||
$ | 1,000,000 | Gulf Stream Meridian 1 Ltd., Series 2020-IA, Class A1, 1.554% (3-Month USD-LIBOR + 1.370%) due 4/15/33(a)(e) | $ | 1,001,239 | ||||
Halsey Point CLO I Ltd.: | ||||||||
1,000,000 | Series 2019-1A, Class A1A1, 1.538% (3-Month USD-LIBOR + 1.350%) due 1/20/33(a)(e) | 1,001,278 | ||||||
1,000,000 | Series 2019-1A, Class B1, 2.388% (3-Month USD-LIBOR + 2.200%) due 1/20/33(a)(e) | 1,001,588 | ||||||
4,767,406 | Horizon Aircraft Finance III Ltd., Series 2019-2, Class A, 3.425% due 11/15/39(a) | 4,713,576 | ||||||
Invitation Homes Trust: | ||||||||
2,240,000 | Series 2018-SFR1, Class C, 1.351% (1-Month USD-LIBOR + 1.250%) due 3/17/37(a)(e) | 2,244,545 | ||||||
1,424,482 | Series 2018-SFR1, Class D, 1.551% (1-Month USD-LIBOR + 1.450%) due 3/17/37(a)(e) | 1,428,100 | ||||||
965,000 | Jimmy Johns Funding LLC, Series 2017-1A, Class A2II, 4.846% due 7/30/47(a) | 1,034,017 | ||||||
4,019,200 | JP Morgan Mortgage Acquisition Corp., Series 2005-WMC1, Class M4, 0.992% (1-Month USD-LIBOR + 0.900%) due 9/25/35(e) | 3,785,860 | ||||||
1,000,000 | LCM XV LP, Series 15A, Class DR, 3.888% (3-Month USD-LIBOR + 3.700%) due 7/20/30(a)(e) | 988,792 | ||||||
500,000 | Madison Park Funding XXXIV Ltd., Series 2019-34A, Class AR, 1.296% (3-Month USD-LIBOR + 1.120%) due 4/25/32(a)(e) | 500,090 | ||||||
1,675,000 | Madison Park Funding XXXVIII Ltd., Series 2021-38A, Class A, 0.000% (3-Month USD-LIBOR + 1.120%) due 7/17/34(a)(e)(g) | 1,675,178 | ||||||
1,000,000 | Marble Point CLO XIV Ltd., Series 2018-2A, Class A1R, 1.468% (3-Month USD-LIBOR + 1.280%) due 1/20/32(a)(e) | 1,001,396 | ||||||
2,000,000 | Marlette Funding Trust, Series 2019-4A, Class C, 3.760% due 12/17/29(a) | 2,073,971 | ||||||
490,000 | Mercury Financial Credit Card Master Trust, Series 2021-1A, Class A, 1.540% due 3/20/26(a) | 491,795 | ||||||
10,049,741 | Merrill Lynch Mortgage Investors Trust, Series 2006-HE6, Class A1, 0.372% (1-Month USD-LIBOR + 0.280%) due 11/25/37(e) | 6,813,467 | ||||||
1,000,000 | MKS CLO Ltd., Series 2017-1A, Class AR, 1.188% (3-Month USD-LIBOR + 1.000%) due 7/20/30(a)(e) | 998,660 | ||||||
1,000,000 | MP CLO III Ltd., Series 2013-1A, Class AR, 1.438% (3-Month USD-LIBOR + 1.250%) due 10/20/30(a)(e) | 1,000,026 | ||||||
1,000,000 | MP CLO IV Ltd., Series 2013-2A, Class ARR, 1.456% (3-Month USD-LIBOR + 1.280%) due 7/25/29(a)(e) | 1,000,432 | ||||||
4,000,000 | New Century Home Equity Loan Trust, Series 2005-B, Class M2, 0.827% (1-Month USD-LIBOR + 0.735%) due 10/25/35(e) | 3,733,026 | ||||||
988,761 | Northwoods Capital XVI Ltd., Series 2017-16A, Class A, 1.426% (3-Month USD-LIBOR + 1.270%) due 11/15/30(a)(e) | 989,047 | ||||||
1,100,000 | Pagaya AI Debt Selection Trust, Series 2021-1, Class B, 2.130% due 11/15/27(a) | 1,103,685 | ||||||
1,800,000 | PMT Issuer Trust - FMSR, Series 2021-FT1, Class A, 3.092% (1-Month USD-LIBOR + 3.000%) due 3/25/26(a)(e) | 1,809,849 | ||||||
1,814,388 | Pretium Mortgage Credit Partners I LLC, Series 2020-NPL3, Class A1, step bond to yield, 3.105% due 6/27/60(a) | 1,833,140 | ||||||
2,100,000 | Progress Residential, Series 2021-SFR1, Class D, 1.805% due 4/17/38(a) | 2,062,523 | ||||||
2,000,000 | Race Point IX CLO Ltd., Series 2015-9A, Class A1A2, 1.124% (3-Month USD-LIBOR + 0.940%) due 10/15/30(a)(e) | 2,000,102 | ||||||
1,510,000 | Regatta VI Funding Ltd., Series 2016-1A, Class AR2, 1.295% (3-Month USD-LIBOR + 1.160%) due 4/20/34(a)(e)(g) | 1,510,154 | ||||||
1,000,000 | Regatta XI Funding Ltd., Series 2018-1A, Class B, 1.840% (3-Month USD-LIBOR + 1.650%) due 7/17/31(a)(e) | 1,000,489 | ||||||
1,720,000 | RR 1 LLC, Series 2017-1A, Class A1AB, 0.000% (3-Month USD-LIBOR + 1.150%) due 7/15/35(a)(e)(g) | 1,720,000 | ||||||
1,475,000 | RR 16 Ltd., Series 2021-16A, Class A1, 0.000% (3-Month USD-LIBOR + 1.110%) due 7/15/36(a)(e)(g) | 1,475,150 | ||||||
1,125,000 | SoFi Consumer Loan Program Trust, Series 2019-1, Class B, 3.450% due 2/25/28(a) | 1,133,436 |
Schedules of Investments |
May 28, 2021# (unaudited) |
Destinations Core Fixed Income Fund (continued) |
Face Amount/Units | Security | Value | ||||||
ASSET-BACKED SECURITIES - 8.6% (continued) | ||||||||
$ | 1,000,000 | Sofi Professional Loan Program Trust, Series 2018-B, Class BFX, 3.830% due 8/25/47(a) | $ | 1,046,546 | ||||
1,710,000 | Sound Point CLO XXIX Ltd., Series 2021-1A, Class A, 1.210% (3-Month USD-LIBOR + 1.070%) due 4/25/34(a)(e)(g) | 1,709,572 | ||||||
3,500,000 | STAR Trust, Series 2021-SFR1, Class G, 3.301% (1-Month USD-LIBOR + 3.200%) due 4/17/38(a)(e) | 3,494,817 | ||||||
5,892,799 | Structured Asset Investment Loan Trust, Series 2005-5, Class M5, 1.067% (1-Month USD-LIBOR + 0.975%) due 6/25/35(e) | 5,941,834 | ||||||
966,336 | Sunnova Helios II Issuer LLC, Series 2021-A, Class A, 1.800% due 2/20/48(a) | 960,981 | ||||||
1,955,000 | Symphony CLO XXV Ltd., Series 2021-25A, Class A, 1.165% (3-Month USD-LIBOR + 0.980%) due 4/19/34(a)(e) | 1,955,733 | ||||||
1,720,000 | Thompson Park CLO Ltd., Series 2021-1A, Class A1, 1.199% (3-Month USD-LIBOR + 1.000%) due 4/15/34(a)(e) | 1,720,316 | ||||||
6,288,246 | TIF Funding II LLC, Series 2021-1A, Class A, 1.650% due 2/20/46(a) | 6,180,324 | ||||||
550,000 | TRTX Issuer Ltd., Series 2021-FL4, Class A, 1.301% (1-Month USD-LIBOR + 1.200%) due 3/15/38(a)(e) | 549,656 | ||||||
557,150 | Upgrade Receivables Trust, Series 2019-1A, Class C, 5.150% due 3/15/25(a) | 558,754 | ||||||
Upstart Pass-Through Trust: | ||||||||
1,463,276 | Series 2021-ST3, Class A, 2.000% due 5/20/27(a)(g) | 1,470,591 | ||||||
1,500,000 | Series 2021-ST4, Class A, 2.000% due 7/20/27(a)(g) | 1,500,712 | ||||||
800,000 | Upstart Securitization Trust, Series 2019-3, Class C, 5.381% due 1/21/30(a) | 834,390 | ||||||
1,300,000 | US Auto Funding LLC, Series 2019-1A, Class D, 8.060% due 11/15/25(a) | 1,360,490 | ||||||
1,710,000 | Venture 42 CLO Ltd., Series 2021-42A, Class A1A, 1.311% (3-Month USD-LIBOR + 1.130%) due 4/15/34(a)(e) | 1,710,310 | ||||||
660,000 | Venture 43 CLO Ltd., Series 2021-43A, Class A1, 0.000% (3-Month USD-LIBOR + 1.240%) due 4/15/34(a)(e)(g) | 660,067 | ||||||
993,913 | Venture XV CLO Ltd., Series 2013-15A, Class A1R2, 1.554% (3-Month USD-LIBOR + 1.370%) due 7/15/32(a)(e) | 994,149 | ||||||
916,517 | VOLT XCV LLC, Series 2021-NPL4, Class A1, step bond to yield, 2.240% due 3/27/51(a) | 916,455 | ||||||
1,335,000 | Wellfleet CLO X Ltd., Series 2019-XA, Class A1R, 1.344% (3-Month USD-LIBOR + 1.170%) due 7/20/32(a)(e) | 1,335,403 | ||||||
995,902 | Wind River CLO Ltd., Series 2014-1A, Class ARR, 1.240% (3-Month USD-LIBOR + 1.050%) due 7/18/31(a)(e) | 995,419 | ||||||
1,000,000 | Wingstop Funding LLC, Series 2020-1A, Class A2, 2.841% due 12/5/50(a) | 1,031,250 | ||||||
4,000,000 | York CLO-6 Ltd., Series 2019-1A, Class A1, 1.534% (3-Month USD-LIBOR + 1.350%) due 7/22/32(a)(e) | 4,004,706 | ||||||
TOTAL ASSET-BACKED SECURITIES | ||||||||
(Cost - $190,439,300) | 190,072,166 | |||||||
SOVEREIGN BONDS - 1.1% | ||||||||
Brazil - 0.0% | ||||||||
Brazilian Government International Bond: | ||||||||
200,000 | 5.000% due 1/27/45 | 200,576 | ||||||
400,000 | 5.625% due 2/21/47 | 429,504 | ||||||
Total Brazil | 630,080 | |||||||
Chile - 0.1% | ||||||||
Chile Government International Bond: | ||||||||
550,000 | 3.100% due 5/7/41 | 534,963 | ||||||
200,000 | 3.500% due 1/25/50 | 201,446 | ||||||
205,000 | 3.500% due 4/15/53 | 206,757 | ||||||
1,250,000 | 3.100% due 1/22/61 | 1,139,875 | ||||||
Total Chile | 2,083,041 |
Schedules of Investments |
May 28, 2021# (unaudited) |
Destinations Core Fixed Income Fund (continued) |
Face Amount/Units | Security | Value | ||||||
SOVEREIGN BONDS - 1.1% (continued) | ||||||||
Colombia - 0.1% | ||||||||
Colombia Government International Bond: | ||||||||
300,000 | 5.000% due 6/15/45 | 309,612 | ||||||
600,000 | 4.125% due 5/15/51 | 547,416 | ||||||
Total Colombia | 857,028 | |||||||
Dominican Republic - 0.0% | ||||||||
250,000 | Dominican Republic International Bond, 5.300% due 1/21/41(a) | 250,750 | ||||||
Indonesia - 0.1% | ||||||||
Indonesia Government International Bond: | ||||||||
500,000 | 3.375% due 4/15/23 | 525,890 | ||||||
200,000 | 4.350% due 1/11/48 | 220,930 | ||||||
700,000 | 3.700% due 10/30/49 | 715,814 | ||||||
200,000 | Perusahaan Penerbit SBSN Indonesia III, 3.800% due 6/23/50 | 203,500 | ||||||
Total Indonesia | 1,666,134 | |||||||
Mexico - 0.3% | ||||||||
Mexico Government International Bond: | ||||||||
1,395,000 | 2.659% due 5/24/31 | 1,354,308 | ||||||
1,155,000 | 4.750% due 4/27/32 | 1,316,122 | ||||||
750,000 | 4.280% due 8/14/41 | 778,290 | ||||||
600,000 | 4.600% due 2/10/48 | 633,756 | ||||||
1,190,000 | 3.771% due 5/24/61 | 1,088,862 | ||||||
275,000 | 3.750% due 4/19/71 | 246,645 | ||||||
Total Mexico | 5,417,983 | |||||||
Panama - 0.1% | ||||||||
Panama Government International Bond: | ||||||||
880,000 | 2.252% due 9/29/32 | 843,709 | ||||||
200,000 | 4.300% due 4/29/53 | 215,002 | ||||||
1,625,000 | 3.870% due 7/23/60 | 1,627,827 | ||||||
Total Panama | 2,686,538 | |||||||
Peru - 0.2% | ||||||||
Peruvian Government International Bond: | ||||||||
195,000 | 2.392% due 1/23/26 | 200,829 | ||||||
1,395,000 | 2.783% due 1/23/31 | 1,398,501 | ||||||
750,000 | 3.300% due 3/11/41 | 725,633 | ||||||
985,000 | 3.550% due 3/10/51 | 961,616 | ||||||
100,000 | 2.780% due 12/1/60 | 82,876 | ||||||
Total Peru | 3,369,455 | |||||||
Philippines - 0.1% | ||||||||
Philippine Government International Bond: | ||||||||
600,000 | 1.648% due 6/10/31 | 577,248 | ||||||
750,000 | 3.700% due 3/1/41 | 795,338 | ||||||
200,000 | 3.700% due 2/2/42 | 212,582 | ||||||
Total Philippines | 1,585,168 | |||||||
Qatar - 0.0% | ||||||||
400,000 | Qatar Government International Bond, 3.400% due 4/16/25(a) | 436,000 | ||||||
Saudi Arabia - 0.1% | ||||||||
Saudi Government International Bond: | ||||||||
800,000 | 2.900% due 10/22/25(a) | 853,234 | ||||||
1,129,000 | 2.250% due 2/2/33(a) | 1,080,051 | ||||||
200,000 | 3.750% due 1/21/55 | 203,790 | ||||||
750,000 | 3.450% due 2/2/61 | 721,425 | ||||||
Total Saudi Arabia | 2,858,500 |
Schedules of Investments |
May 28, 2021# (unaudited) |
Destinations Core Fixed Income Fund (continued) |
Face Amount/Units | Security | Value | ||||||
SOVEREIGN BONDS - 1.1% (continued) | ||||||||
South Korea - 0.0% | ||||||||
$ | 300,000 | Korea Development Bank, 1.000% due 9/9/26 | $ | 298,651 | ||||
400,000 | Korea Electric Power Corp., 1.125% due 6/15/25(a) | 399,179 | ||||||
Total South Korea | 697,830 | |||||||
Thailand - 0.0% | ||||||||
500,000 | Export Import Bank of Thailand, 1.000% due 5/23/24(e) | 503,005 | ||||||
United Arab Emirates - 0.0% | ||||||||
700,000 | Abu Dhabi Government International Bond, 3.125% due 9/30/49 | 691,250 | ||||||
TOTAL SOVEREIGN BONDS | ||||||||
(Cost - $23,963,875) | 23,732,762 | |||||||
SENIOR LOANS - 1.1%(e) | ||||||||
80,000 | AAdvantage Loyality IP Ltd., 5.500% (3-Month USD-LIBOR + 0.475%) due 4/20/28 | 82,400 | ||||||
152,968 | Acrisure LLC, 3.703% (3-Month USD-LIBOR + 0.350%) due 2/15/27 | 151,407 | ||||||
40,625 | Acuris Finance US Inc., 4.500% (3-Month USD-LIBOR + 0.400%) due 2/16/28 | 40,777 | ||||||
25,000 | Aegion Corp., 5.500% (3-Month USD-LIBOR + 0.475%) due 5/17/28 | 25,094 | ||||||
125,380 | Air Methods Corp., 4.500% (3-Month USD-LIBOR + 0.350%) due 4/22/24 | 123,704 | ||||||
163,450 | Aldevron LLC, 4.250% (1-Month USD-LIBOR + 0.325%) due 10/12/26 | 163,808 | ||||||
110,000 | AlixPartners LLP, 3.250% (1-Month USD-LIBOR + 0.275%) due 2/4/28 | 109,541 | ||||||
49,339 | Alliance Laundry Systems LLC, 4.250% (3-Month USD-LIBOR + 0.350%) due 10/8/27 | 49,436 | ||||||
Alliant Holdings Intermediate LLC: | ||||||||
108,075 | 3.343% (1-Month USD-LIBOR + 0.325%) due 5/9/25 | 107,081 | ||||||
25,000 | due 11/5/27(l) | 25,019 | ||||||
50,000 | Allied Universal Holdco LLC, 4.250% (1-Month USD-LIBOR + 3.750%) due 5/12/28 | 50,107 | ||||||
15,000 | Alpha 3 BV, 3.000% (3-Month USD-LIBOR + 0.250%) due 3/18/28 | 14,930 | ||||||
205,277 | Alterra Mountain Co., 2.843% (1-Month USD-LIBOR + 0.275%) due 7/31/24 | 201,721 | ||||||
74,687 | Amentum Government Services Holdings LLC, 3.593% (1-Month USD-LIBOR + 0.350%) due 1/29/27 | 74,425 | ||||||
American Airlines Inc.: | ||||||||
24,740 | 2.093% (1-Month USD-LIBOR + 0.200%) due 4/28/23 | 23,920 | ||||||
43,779 | 2.101% (1-Month USD-LIBOR + 0.200%) due 12/15/23 | 42,307 | ||||||
54,450 | 1.843% (1-Month USD-LIBOR + 0.175%) due 1/29/27 | 50,540 | ||||||
44,888 | American Residential Services LLC, 4.250% (2-Month USD-LIBOR + 0.350%) due 10/15/27 | 44,887 | ||||||
71,877 | American Tire Distributors Inc., 8.500% (3-Month USD-LIBOR + 0.750%) due 9/2/24 | 71,197 | ||||||
55,000 | American Trailer World Corp., 4.500% (1-Month USD-LIBOR + 0.375%) due 3/3/28 | 54,897 | ||||||
9,975 | AmWINS Group Inc., 3.000% (1-Month USD-LIBOR + 0.225%) due 2/19/28 | 9,924 | ||||||
69,192 | Applied Systems Inc., 3.754% (3-Month USD-LIBOR + 0.325%) due 9/19/24 | 69,089 | ||||||
70,000 | 3.343% (1-Month USD-LIBOR + 0.325%) due 7/31/27 | 69,650 | ||||||
20,000 | 5.343% (1-Month USD-LIBOR + 0.525%) due 1/31/28 | 20,208 | ||||||
145,648 | athenahealth Inc., 4.410% (3-Month USD-LIBOR + 0.425%) due 2/11/26 | 146,048 | ||||||
75,000 | Atlas Purchaser Inc., 6.000% (3-Month USD-LIBOR + 0.525%) due 5/8/28 | 73,469 | ||||||
35,000 | Autokiniton US Holdings Inc., 5.000% (3-Month USD-LIBOR + 0.450%) due 4/6/28 | 35,219 | ||||||
Avantor Funding Inc.: | ||||||||
37,152 | 3.000% (1-Month USD-LIBOR + 0.200%) due 11/21/24 | 37,121 | ||||||
84,788 | 3.250% (1-Month USD-LIBOR + 0.225%) due 11/8/27 | 84,999 | ||||||
Avaya Inc.: | ||||||||
85,000 | 4.101% (1-Month USD-LIBOR + 0.400%) due 12/15/27 | 85,160 | ||||||
94,286 | 4.351% (1-Month USD-LIBOR + 0.425%) due 12/15/27 | 94,522 | ||||||
120,935 | Aventiv Technologies LLC, 5.500% (3-Month USD-LIBOR + 0.450%) due 11/1/24 | 110,252 | ||||||
120,158 | Azalea TopCo Inc., 3.685% (3-Month USD-LIBOR + 0.350%) due 7/24/26 | 119,407 | ||||||
37,091 | Bausch Health Cos. Inc., 3.093% (1-Month USD-LIBOR + 0.300%) due 6/2/25 | 36,934 | ||||||
71,709 | BellRing Brands LLC, 4.750% (1-Month USD-LIBOR + 0.400%) due 10/21/24 | 72,183 | ||||||
142,356 | Blackhawk Network Holdings Inc., 3.093% (1-Month USD-LIBOR + 0.300%) due 6/15/25 | 140,637 |
Schedules of Investments |
May 28, 2021# (unaudited) |
Destinations Core Fixed Income Fund (continued) |
Face Amount/Units | Security | Value | ||||||
SENIOR LOANS - 1.1%(e) (continued) | ||||||||
$ | 132,391 | Blackstone CQP Holdco LP, 3.687% (3-Month USD-LIBOR + 0.350%) due 9/30/24 | $ | 132,204 | ||||
99,619 | Brand Energy & Infrastructure Services Inc., 5.250% (3-Month USD-LIBOR + 0.425%) due 6/21/24 | 97,342 | ||||||
77,517 | Brazos Delaware II LLC, 4.097% (1-Month USD-LIBOR + 0.400%) due 5/21/25 | 75,427 | ||||||
151,769 | Bright Bidco BV, 4.500% (3-Month USD-LIBOR + 0.350%) due 6/30/24 | 115,534 | ||||||
114,706 | Brookfield WEC Holdings Inc., 3.250% (1-Month USD-LIBOR + 0.275%) due 8/1/25 | 113,918 | ||||||
15,000 | Brown Group Holdings LLC, due 6/7/28(l) | 14,974 | ||||||
114,138 | BY Crown Parent LLC, 4.000% (1-Month USD-LIBOR + 0.300%) due 2/2/26 | 113,852 | ||||||
84,575 | Cablevision Lightpath LLC, 3.750% (1-Month USD-LIBOR + 0.325%) due 11/30/27 | 84,660 | ||||||
99,500 | Caesars Resort Collection LLC, 4.593% (1-Month USD-LIBOR + 0.450%) due 7/21/25 | 99,768 | ||||||
14,775 | Calpine Corp., 2.093% (1-Month USD-LIBOR + 0.200%) due 8/12/26 | 14,580 | ||||||
87,327 | Cambium Learning Group Inc., 5.250% (3-Month USD-LIBOR + 0.450%) due 12/18/25 | 87,637 | ||||||
Camelot U.S. Acquisition 1 Co.: | ||||||||
9,975 | 4.000% (1-Month USD-LIBOR + 0.300%) due 10/30/26 | 9,983 | ||||||
59,550 | Carnival Corp., 8.500% (1-Month USD-LIBOR + 0.750%) due 6/30/25 | 59,748 | ||||||
173,220 | Cengage Learning Inc., 5.250% (2-Month USD-LIBOR + 0.425%) due 6/7/23 | 173,028 | ||||||
124,688 | Charter Nex US Holdings Inc., 5.000% (1-Month USD-LIBOR + 0.425%) due 12/1/27 | 125,116 | ||||||
202,725 | CHG PPC Parent LLC, 2.843% (1-Month USD-LIBOR + 0.275%) due 3/31/25 | 201,711 | ||||||
64,707 | Cincinnati Bell Inc., 4.250% (1-Month USD-LIBOR + 0.325%) due 10/2/24 | 64,626 | ||||||
38,073 | Clear Channel Outdoor Holdings Inc., 3.685% (2-Month USD-LIBOR + 0.350%) due 8/21/26 | 36,829 | ||||||
101,332 | ClubCorp Holdings Inc., 2.953% (3-Month USD-LIBOR + 0.275%) due 9/18/24 | 97,142 | ||||||
90,000 | CNT Holdings I Corp., 4.500% (3-Month USD-LIBOR + 0.375%) due 11/8/27 | 90,112 | ||||||
120,000 | Cologix Holdings Inc., 4.500% (1-Month USD-LIBOR + 0.375%) due 5/1/28 | 120,000 | ||||||
10,000 | Columbus McKinnon Corp., 3.250% (3-Month USD-LIBOR + 0.275%) due 4/7/28 | 10,013 | ||||||
177,256 | Compass Power Generation LLC, 4.500% (1-Month USD-LIBOR + 0.350%) due 12/20/24 | 176,295 | ||||||
45,000 | Conair Holdings LLC, 4.250% (3-Month USD-LIBOR + 0.375%) due 5/17/28 | 45,169 | ||||||
64,350 | Connect Finco SARL, 4.500% (1-Month USD-LIBOR + 0.350%) due 12/11/26 | 64,382 | ||||||
99,500 | Conservice Midco LLC, 4.453% (3-Month USD-LIBOR + 0.425%) due 5/13/27 | 99,500 | ||||||
Constant Contact Inc.: | ||||||||
98,529 | 4.750% (3-Month USD-LIBOR + 0.400%) due 2/10/28 | 98,406 | ||||||
55,000 | CoreLogic Inc., due 6/2/28(l) | 54,725 | ||||||
84,753 | Cornerstone Building Brands Inc., 3.750% (1-Month USD-LIBOR + 0.325%) due 4/12/28 | 84,732 | ||||||
139,541 | Cornerstone OnDemand Inc., 3.343% (1-Month USD-LIBOR + 0.325%) due 4/22/27 | 139,516 | ||||||
210,000 | CP Atlas Buyer Inc., 4.250% (3-Month USD-LIBOR + 0.375%) due 11/23/27 | 209,498 | ||||||
160,000 | CQP Holdco LP, % due 6/4/28(l) | 159,200 | ||||||
CSC Holdings LLC: | ||||||||
15,423 | 2.348% (1-Month USD-LIBOR + 0.225%) due 7/17/25 | 15,234 | ||||||
53,763 | 2.348% (1-Month USD-LIBOR + 0.225%) due 1/15/26 | 53,131 | ||||||
239,693 | Cvent Inc., 3.843% (1-Month USD-LIBOR + 0.375%) due 11/29/24 | 232,637 | ||||||
38,505 | Cyanco Intermediate 2 Corp., 3.593% (1-Month USD-LIBOR + 0.350%) due 3/16/25 | 37,908 | ||||||
101,445 | Cyxtera DC Holdings Inc., 4.000% (3-Month USD-LIBOR + 0.300%) due 5/1/24 | 98,174 | ||||||
148,687 | DCert Buyer Inc., 4.093% (1-Month USD-LIBOR + 0.400%) due 10/16/26 | 148,687 | ||||||
115,000 | Delta Topco Inc., 4.500% (3-Month USD-LIBOR + 0.375%) due 12/1/27 | 115,144 | ||||||
DG Investment Intermediate Holdings 2 Inc.: | ||||||||
21,714 | 3.420% (1-Month USD-LIBOR + 0.375%) due 3/31/28 | 21,682 | ||||||
136,429 | 4.500% (1-Month USD-LIBOR + 0.375%) due 3/31/28 | 136,224 | ||||||
15,000 | 7.500% (1-Month USD-LIBOR + 0.675%) due 3/30/29 | 14,950 | ||||||
68,937 | Dhanani Group Inc., 3.843% (1-Month USD-LIBOR + 0.375%) due 7/20/25 | 68,377 | ||||||
59,223 | Diamond Sports Group LLC, 3.350% (1-Month USD-LIBOR + 0.325%) due 8/24/26 | 42,400 | ||||||
40,000 | DT Midstream Inc., due 5/25/28(l) | 40,200 | ||||||
Dynasty Acquisition Co., Inc.: | ||||||||
108,436 | 3.703% (3-Month USD-LIBOR + 0.350%) due 4/6/26 | 104,961 |
Schedules of Investments |
May 28, 2021# (unaudited) |
Destinations Core Fixed Income Fund (continued) |
Face Amount/Units | Security | Value | ||||||
SENIOR LOANS - 1.1%(e) (continued) | ||||||||
$ | 202,916 | EAB Global Inc., 4.750% (2-Month USD-LIBOR + 0.375%) due 11/15/24 | $ | 202,747 | ||||
75,000 | Edelman Financial Center LLC, 9.190% (1-Month USD-LIBOR + 6.750%) due 7/20/26(l) | 75,187 | ||||||
40,000 | Edelman Financial Engines Center LLC, 4.500% (1-Month USD-LIBOR + 0.375%) due 4/7/28 | 40,025 | ||||||
EG Group Ltd.: | ||||||||
67,981 | 4.203% (3-Month USD-LIBOR + 0.400%) due 2/7/25 | 67,268 | ||||||
40,000 | due 3/31/26(l) | 39,850 | ||||||
70,000 | Endo Luxembourg Finance Co. I SARL, 5.750% (1-Month USD-LIBOR + 0.500%) due 3/27/28 | 68,260 | ||||||
150,000 | Endurance International Group Holdings Inc., 4.250% (3-Month USD-LIBOR + 0.350%) due 2/10/28 | 148,906 | ||||||
100,756 | Envision Healthcare Corp., 3.843% (1-Month USD-LIBOR + 0.375%) due 10/10/25 | 85,800 | ||||||
5,000 | eResearchTechnology Inc., 5.500% (1-Month USD-LIBOR + 0.450%) due 2/4/27 | 5,024 | ||||||
77,245 | ESH Hospitality Inc., 2.093% (1-Month USD-LIBOR + 0.200%) due 9/18/26 | 76,902 | ||||||
68,931 | Excelitas Technologies Corp., 4.500% (3-Month USD-LIBOR + 0.350%) due 12/2/24 | 68,759 | ||||||
89,550 | Exgen Renewables IV LLC, 3.750% (3-Month USD-LIBOR + 0.275%) due 12/15/27 | 89,606 | ||||||
98,196 | Filtration Group Corp., 3.093% (1-Month USD-LIBOR + 0.300%) due 3/31/25 | 97,140 | ||||||
144,236 | First Advantage Holdings LLC, 3.093% (1-Month USD-LIBOR + 0.300%) due 1/31/27 | 143,695 | ||||||
123,537 | Flex Acquisition Co., Inc., 3.452% (3-Month USD-LIBOR + 0.325%) due 6/29/25 | 122,095 | ||||||
194,750 | Flexential Intermediate Corp., 3.703% (3-Month USD-LIBOR + 0.350%) due 8/1/24 | 178,642 | ||||||
108,067 | Flexera Software LLC, 4.250% (3-Month USD-LIBOR + 0.325%) due 2/26/25(g) | 108,152 | ||||||
150,696 | Flutter Entertainment PLC, 3.703% (3-Month USD-LIBOR + 0.350%) due 7/10/25 | 151,168 | ||||||
46,394 | Forterra Finance LLC, 4.000% (1-Month USD-LIBOR + 0.300%) due 10/25/23 | 46,373 | ||||||
75,000 | Foundation Building Materials Inc., 3.750% (3-Month USD-LIBOR + 0.325%) due 1/31/28 | 74,512 | ||||||
65,184 | Frontera Generation Holdings LLC, 5.250% (3-Month USD-LIBOR + 0.425%) due 5/2/25 | 2,879 | ||||||
120,000 | Gainwell Acquisition Corp., 4.750% (3-Month USD-LIBOR + 0.400%) due 10/1/27 | 120,060 | ||||||
155,000 | Garda World Security Corp., 4.350% (1-Month USD-LIBOR + 0.425%) due 10/30/26 | 155,169 | ||||||
143,111 | Gemini HDPE LLC, 3.500% (3-Month USD-LIBOR + 0.300%) due 12/31/27 | 142,872 | ||||||
121,468 | Getty Images Inc., 4.625% (1-Month USD-LIBOR + 0.450%) due 2/19/26 | 121,127 | ||||||
144,638 | Global Medical Response Inc., 5.750% (3-Month USD-LIBOR + 0.475%) due 10/2/25 | 145,216 | ||||||
75,000 | Gogo Intermediate Holdings LLC, 4.500% (3-Month USD-LIBOR + 0.375%) due 4/30/28 | 74,672 | ||||||
75,000 | Grab Holdings Inc., 5.500% (3-Month USD-LIBOR + 0.450%) due 1/29/26 | 76,125 | ||||||
132,254 | Graham Packaging Co., Inc., 3.750% (1-Month USD-LIBOR + 0.300%) due 8/4/27 | 132,164 | ||||||
153,798 | Granite US Holdings Corp., 4.203% (3-Month USD-LIBOR + 0.400%) due 9/30/26 | 153,605 | ||||||
109,725 | Great Outdoors Group LLC, 5.000% (3-Month USD-LIBOR + 0.425%) due 3/6/28 | 110,466 | ||||||
31,111 | GTT Communications Inc., 2.950% (3-Month USD-LIBOR + 0.275%) due 5/31/25(d) | 25,297 | ||||||
57,328 | Gulf Finance LLC, 6.250% (1-Month USD-LIBOR + 0.525%) due 8/25/23 | 48,622 | ||||||
169,150 | Harbor Freight Tools USA Inc., 3.750% (1-Month USD-LIBOR + 0.300%) due 10/19/27 | 169,397 | ||||||
Hayward Industries Inc.: | ||||||||
95,000 | due 5/12/28(l) | 94,921 | ||||||
128,429 | Helios Software Holdings Inc., 3.930% (3-Month USD-LIBOR + 0.375%) due 3/11/28 | 128,493 | ||||||
58,950 | Hexion Inc., 3.710% (3-Month USD-LIBOR + 0.350%) due 7/1/26 | 58,803 | ||||||
207,461 | H-Food Holdings LLC, 3.780% (1-Month USD-LIBOR + 0.369%) due 5/23/25 | 206,240 | ||||||
HighTower Holding LLC: | ||||||||
68,000 | 4.750% (3-Month USD-LIBOR + 0.400%) due 4/21/28 | 68,149 | ||||||
Hillman Group Inc.: | ||||||||
40,000 | due 2/24/28(l) | 39,925 | ||||||
65,000 | Horizon Therapeutics USA Inc., 2.500% (1-Month USD-LIBOR + 0.200%) due 3/15/28 | 64,861 | ||||||
Hyland Software Inc.: | ||||||||
10,000 | 7.000% (1-Month USD-LIBOR) due 7/7/25(f)(g) | 10,087 | ||||||
40,125 | 7.000% (1-Month USD-LIBOR + 0.625%) due 7/7/25 | 40,292 | ||||||
106,366 | iHeartCommunications Inc., 3.093% (1-Month USD-LIBOR + 0.300%) due 5/1/26 | 105,191 | ||||||
158,400 | Informatica LLC, 3.343% (1-Month USD-LIBOR + 0.325%) due 2/25/27 | 157,410 |
Schedules of Investments |
May 28, 2021# (unaudited) |
Destinations Core Fixed Income Fund (continued) |
Face Amount/Units | Security | Value | ||||||
SENIOR LOANS - 1.1%(e) (continued) | ||||||||
$ | 120,000 | Ingram Micro Inc., due 3/30/28(l) | $ | 120,050 | ||||
36,839 | Intelsat Jackson Holdings SA, 6.500% (3-Month USD-LIBOR + 0.550%) due 7/13/22 | 37,023 | ||||||
145,000 | ION Trading Finance Ltd., 4.952% (3-Month USD-LIBOR + 0.475%) due 4/1/28 | 145,336 | ||||||
84,022 | Iqvia Inc., 1.953% (3-Month USD-LIBOR + 0.175%) due 6/11/25 | 83,617 | ||||||
119,700 | IRB Holding Corp., 4.250% (3-Month USD-LIBOR + 0.325%) due 12/15/27 | 119,615 | ||||||
110,000 | Ivanti Software Inc., 5.750% (3-Month USD-LIBOR + 0.475%) due 12/1/27 | 109,878 | ||||||
145,000 | Jazz Pharmaceuticals PLC, 4.000% (1-Month USD-LIBOR + 0.350%) due 5/5/28 | 145,596 | ||||||
79,401 | KBR Inc., 2.843% (1-Month USD-LIBOR + 0.275%) due 2/5/27 | 79,467 | ||||||
69,975 | Kenan Advantage Group Inc., 4.500% (1-Month USD-LIBOR + 3.750%) due 3/24/26 | 69,942 | ||||||
113,563 | Kestrel Bidco Inc., 4.000% (3-Month USD-LIBOR + 0.300%) due 12/11/26 | 110,191 | ||||||
98,982 | Kindred Healthcare LLC, 4.625% (1-Month USD-LIBOR + 0.450%) due 7/2/25 | 98,735 | ||||||
115,000 | Kleopatra Finco SARL, 5.250% (3-Month USD-LIBOR + 0.475%) due 2/12/26 | 114,664 | ||||||
35,000 | Kodiak BP LLC, 4.000% (3-Month USD-LIBOR + 0.325%) due 3/12/28 | 34,898 | ||||||
109,738 | Kronos Acquisition Holdings Inc., 4.250% (3-Month USD-LIBOR + 0.375%) due 12/22/26 | 108,777 | ||||||
LBM Acquisition LLC: | ||||||||
12,727 | 4.250% (3-Month USD-LIBOR + 0.375%) due 12/17/27 | 12,701 | ||||||
85,909 | 4.500% (3-Month USD-LIBOR + 0.375%) due 12/17/27 | 85,730 | ||||||
7,135 | Lealand Finance Co. BV, 4.093% (1-Month USD-LIBOR + 0.400%) due 6/30/25 | 3,118 | ||||||
177,368 | LifePoint Health Inc., 3.843% (1-Month USD-LIBOR + 0.375%) due 11/16/25 | 177,283 | ||||||
34,751 | Lions Gate Capital Holdings LLC, 2.343% (1-Month USD-LIBOR + 0.225%) due 3/24/25 | 34,543 | ||||||
154,613 | LogMeIn Inc., 4.845% (1-Month USD-LIBOR + 0.475%) due 8/31/27 | 154,588 | ||||||
127,193 | Lower Cadence Holdings LLC, 4.093% (1-Month USD-LIBOR + 0.400%) due 5/22/26 | 125,603 | ||||||
132,044 | Lucid Energy Group II Borrower LLC, 4.000% (1-Month USD-LIBOR + 0.300%) due 2/17/25 | 130,724 | ||||||
149,625 | Lummus Technology Holdings V LLC, 3.593% (1-Month USD-LIBOR + 0.350%) due 6/30/27 | 148,663 | ||||||
36,567 | Maravai Intermediate Holdings LLC, 4.750% (1-Month USD-LIBOR + 0.375%) due 10/19/27 | 36,635 | ||||||
150,000 | Mavis Tire Express Services Topco Corp., 4.750% (3-Month USD-LIBOR + 0.400%) due 5/4/28 | 150,242 | ||||||
163,415 | MED ParentCo LP, 4.343% (1-Month USD-LIBOR + 0.425%) due 8/31/26 | 163,062 | ||||||
140,323 | Messer Industries GmbH, 2.703% (3-Month USD-LIBOR + 0.250%) due 3/2/26 | 139,131 | ||||||
50,000 | Michaels Cos. Inc., 5.000% (3-Month USD-LIBOR + 0.425%) due 4/15/28 | 50,099 | ||||||
110,000 | Mileage Plus Holdings LLC, 6.250% (3-Month USD-LIBOR + 0.525%) due 6/21/27 | 117,315 | ||||||
199,866 | Minotaur Acquisition Inc., 4.843% (1-Month USD-LIBOR + 0.475%) due 3/27/26 | 199,567 | ||||||
29,848 | Mirion Technologies Finance LLC, 4.203% (3-Month USD-LIBOR + 0.400%) due 3/6/26 | 29,960 | ||||||
Misys Ltd.: | ||||||||
130,428 | 4.500% (3-Month USD-LIBOR + 0.350%) due 6/13/24 | 128,694 | ||||||
45,000 | 8.250% (3-Month USD-LIBOR + 0.725%) due 6/13/25 | 45,506 | ||||||
Mitchell International Inc.: | ||||||||
121,218 | 3.343% (1-Month USD-LIBOR + 0.325%) due 11/29/24 | 119,606 | ||||||
30,000 | 7.343% (1-Month USD-LIBOR + 0.725%) due 12/1/25 | 29,944 | ||||||
25,999 | MLN US HoldCo LLC, 4.606% (1-Month USD-LIBOR + 0.450%) due 11/30/25 | 22,998 | ||||||
Motion Acquisition Ltd.: | ||||||||
39,503 | 3.453% (3-Month USD-LIBOR + 0.325%) due 11/12/26 | 38,225 | ||||||
95,123 | MPH Acquisition Holdings LLC, 3.750% (3-Month USD-LIBOR + 0.275%) due 6/7/23 | 94,972 | ||||||
52,802 | NASCAR Holdings LLC, 2.843% (1-Month USD-LIBOR + 0.275%) due 10/19/26 | 52,657 | ||||||
43,988 | NCR Corp., 2.690% (3-Month USD-LIBOR + 0.250%) due 8/28/26 | 43,438 | ||||||
24,937 | Option Care Health Inc., 3.843% (1-Month USD-LIBOR + 0.375%) due 8/6/26 | 24,953 | ||||||
145,000 | Organon & Co., due 6/2/28(l) | 144,793 | ||||||
61,702 | Ortho-Clinical Diagnostics Inc., 3.108% (1-Month USD-LIBOR + 0.300%) due 6/30/25 | 61,702 | ||||||
43,988 | Outcomes Group Holdings Inc., 3.453% (3-Month USD-LIBOR + 0.325%) due 10/24/25 | 43,438 | ||||||
65,000 | Packaging Coordinators Midco Inc., 4.250% (1-Month USD-LIBOR + 0.350%) due 11/30/27 | 65,101 | ||||||
70,000 | Packers Holdings LLC, 4.000% (3-Month USD-LIBOR + 0.325%) due 3/9/28 | 69,615 |
Schedules of Investments |
May 28, 2021# (unaudited) |
Destinations Core Fixed Income Fund (continued) |
Face Amount/Units | Security | Value | ||||||
SENIOR LOANS - 1.1%(e) (continued) | ||||||||
$ | 36,994 | Pactiv Evergreen Inc., 2.843% (1-Month USD-LIBOR + 0.275%) due 2/5/23 | $ | 36,896 | ||||
70,000 | PAI Holdco Inc., 4.500% (2-Month USD-LIBOR + 0.375%) due 10/28/27 | 70,153 | ||||||
75,000 | Park River Holdings Inc., 4.000% (3-Month USD-LIBOR + 0.325%) due 12/28/27 | 74,496 | ||||||
Pathway Vet Alliance LLC: | ||||||||
19,429 | 3.865% (1-Month USD-LIBOR) due 3/31/27 | 19,332 | ||||||
208,504 | 4.146% (1-Month USD-LIBOR + 0.400%) due 3/31/27(g) | 207,461 | ||||||
47,036 | PCI Gaming Authority, 2.593% (1-Month USD-LIBOR + 0.250%) due 5/29/26 | 46,795 | ||||||
125,000 | Peraton Corp., 4.500% (1-Month USD-LIBOR + 0.375%) due 2/1/28 | 125,121 | ||||||
145,000 | Petco Health and Wellness Co., Inc., 4.000% (3-Month USD-LIBOR + 0.325%) due 3/3/28 | 144,897 | ||||||
75,000 | PetSmart LLC, 4.500% (3-Month USD-LIBOR + 0.375%) due 2/11/28 | 75,225 | ||||||
4,987 | PetVet Care Centers LLC, 4.250% (1-Month USD-LIBOR + 0.350%) due 2/14/25 | 4,986 | ||||||
129,025 | PG&E Corp., 3.500% (3-Month USD-LIBOR + 0.300%) due 6/23/25 | 127,896 | ||||||
99,491 | Phoenix Services International LLC, 4.750% (1-Month USD-LIBOR + 0.375%) due 3/1/25 | 98,776 | ||||||
30,000 | Pike Corp., 3.100% (1-Month USD-LIBOR + 0.300%) due 1/21/28 | 29,930 | ||||||
39,897 | Playa Resorts Holding BV, 3.750% (1-Month USD-LIBOR + 0.275%) due 4/29/24 | 38,178 | ||||||
Playtika Holding Corp.: | ||||||||
95,000 | 2.843% (1-Month USD-LIBOR + 0.275%) due 3/13/28 | 94,590 | ||||||
145,000 | PODS LLC, 3.750% (1-Month USD-LIBOR + 0.300%) due 3/31/28 | 144,690 | ||||||
77,611 | PowerTeam Services LLC, 4.250% (3-Month USD-LIBOR + 0.325%) due 3/6/25 | 76,835 | ||||||
25,000 | PQ Corp., due 5/26/28(l) | 25,000 | ||||||
54,113 | Prairie ECI Acquiror LP, 4.843% (1-Month USD-LIBOR + 0.475%) due 3/11/26 | 52,362 | ||||||
143,188 | Pregis TopCo LLC, 4.093% (1-Month USD-LIBOR + 0.400%) due 7/31/26 | 142,830 | ||||||
24,813 | Presidio Holdings Inc., 3.685% (3-Month USD-LIBOR + 0.350%) due 1/22/27 | 24,699 | ||||||
68,934 | Pro Mach Group Inc., 2.843% (1-Month USD-LIBOR + 0.275%) due 3/7/25 | 67,785 | ||||||
134,021 | Pug LLC, 3.593% (1-Month USD-LIBOR + 0.350%) due 2/12/27 | 130,503 | ||||||
155,000 | Rackspace Technology Global Inc., 3.500% (3-Month USD-LIBOR + 0.275%) due 2/15/28 | 154,240 | ||||||
Redstone Holdco 2 LP: | ||||||||
23,910 | due 4/27/28(l) | 23,686 | ||||||
61,090 | 5.500% (3-Month USD-LIBOR + 0.475%) due 4/27/28 | 60,518 | ||||||
Renaissance Holding Corp.: | ||||||||
184,943 | 3.343% (1-Month USD-LIBOR + 0.325%) due 5/30/25 | 182,994 | ||||||
35,000 | due 5/29/26(l) | 34,942 | ||||||
40,000 | Rent-A-Center Inc., 4.750% (1-Month USD-LIBOR + 0.400%) due 2/17/28 | 40,217 | ||||||
122,135 | RentPath LLC, 7.000% (3-Month USD-LIBOR + 0.375%) due 12/17/21 | 109,921 | ||||||
43,439 | Reynolds Consumer Products LLC, 1.843% (1-Month USD-LIBOR + 0.175%) due 2/4/27 | 43,222 | ||||||
59,850 | Riverbed Technology Inc., 7.000% (2-Month USD-LIBOR + 0.600%) due 12/31/25 | 56,829 | ||||||
44,775 | Ryan Specialty Group LLC, 3.750% (1-Month USD-LIBOR + 0.300%) due 9/1/27 | 44,747 | ||||||
Sabre GLBL Inc.: | ||||||||
89,308 | 2.093% (1-Month USD-LIBOR + 0.200%) due 2/22/24 | 87,649 | ||||||
34,913 | 4.750% (1-Month USD-LIBOR + 0.400%) due 12/17/27 | 35,087 | ||||||
74,809 | Schenectady International Group Inc., 4.849% (3-Month USD-LIBOR + 0.475%) due 10/15/25 | 74,902 | ||||||
40,800 | Science Applications International Corp., 1.968% (1-Month USD-LIBOR + 0.188%) due 3/12/27 | 40,647 | ||||||
173,011 | Scientific Games International Inc., 2.843% (1-Month USD-LIBOR + 0.275%) due 8/14/24 | 171,208 | ||||||
50,000 | SCIH Salt Holdings Inc., 4.750% (3-Month USD-LIBOR + 4.000%) due 3/16/27 | 49,650 | ||||||
143,341 | Sedgwick Claims Management Services Inc., 3.343% (1-Month USD-LIBOR + 0.325%) due 12/31/25 | 141,648 | ||||||
206,850 | Sinclair Television Group Inc., 2.600% (1-Month USD-LIBOR + 0.250%) due 9/30/26 | 204,653 | ||||||
178,246 | SIWF Holdings Inc., 4.343% (1-Month USD-LIBOR + 0.425%) due 6/15/25 | 178,301 | ||||||
86,819 | Six Flags Theme Parks Inc., 1.850% (1-Month USD-LIBOR + 0.175%) due 4/17/26 | 84,648 |
Schedules of Investments |
May 28, 2021# (unaudited) |
Destinations Core Fixed Income Fund (continued) |
Face Amount/Units | Security | Value | ||||||
SENIOR LOANS - 1.1%(e) (continued) | ||||||||
$ | 90,000 | SkyMiles IP Ltd., 4.750% (3-Month USD-LIBOR + 0.375%) due 10/20/27 | $ | 94,265 | ||||
19,750 | SMG US Midco 2 Inc., 2.607% (3-Month USD-LIBOR + 0.250%) due 1/23/25 | 19,096 | ||||||
74,179 | SolarWinds Holdings Inc., 2.843% (1-Month USD-LIBOR + 0.275%) due 2/5/24 | 73,066 | ||||||
Solenis Holdings LLC: | ||||||||
118,486 | 4.135% (3-Month USD-LIBOR + 0.400%) due 6/26/25 | 118,357 | ||||||
5,000 | 8.635% (3-Month USD-LIBOR + 0.850%) due 6/26/26 | 4,982 | ||||||
Southern Veterinary Partners LLC: | ||||||||
140,255 | 5.000% (3-Month USD-LIBOR + 0.400%) due 10/5/27 | 140,430 | ||||||
110,000 | Spin Holdco Inc., 4.750% (3-Month USD-LIBOR + 0.400%) due 3/4/28 | 109,794 | ||||||
65,000 | SRS Distribution Inc., due 6/4/28(l) | 64,838 | ||||||
49,918 | Staples Inc., 5.176% (3-Month USD-LIBOR + 0.500%) due 4/16/26 | 48,684 | ||||||
34,650 | Sunshine Luxembourg VII SARL, 4.500% (3-Month USD-LIBOR + 0.375%) due 10/1/26 | 34,747 | ||||||
31,507 | Syncreon Group BV, 6.000% (1-Month USD-LIBOR + 0.500%) due 10/1/24 | 31,245 | ||||||
143,485 | TAMKO Building Products LLC, 3.129% (3-Month USD-LIBOR + 0.300%) due 5/29/26 | 142,767 | ||||||
64,076 | Team Health Holdings Inc., 3.750% (1-Month USD-LIBOR + 0.275%) due 2/6/24 | 61,673 | ||||||
79,600 | Tech Data Corp., 5.593% (1-Month USD-LIBOR + 0.550%) due 6/30/25 | 79,750 | ||||||
50,000 | Tecta America Corp., 5.000% (3-Month USD-LIBOR + 0.425%) due 4/6/28 | 49,812 | ||||||
130,181 | Telesat Canada, 2.850% (1-Month USD-LIBOR + 0.275%) due 12/7/26 | 124,819 | ||||||
143,191 | Terrier Media Buyer Inc., 3.593% (1-Month USD-LIBOR + 0.350%) due 12/17/26 | 142,475 | ||||||
15,000 | TIBCO Software Inc., 7.350% (1-Month USD-LIBOR + 0.725%) due 3/3/28 | 15,180 | ||||||
50,000 | Tiger Acquisition LLC, due 6/1/28(l) | 49,854 | ||||||
196,727 | Titan Acquisition Ltd., 3.267% (3-Month USD-LIBOR + 0.300%) due 3/28/25 | 192,854 | ||||||
34,731 | Trans Union LLC, 1.843% (1-Month USD-LIBOR + 0.175%) due 11/16/26 | 34,579 | ||||||
192,009 | TransDigm Inc., 2.343% (1-Month USD-LIBOR + 0.225%) due 12/9/25 | 189,334 | ||||||
104,132 | Travel Leaders Group LLC, 4.093% (1-Month USD-LIBOR + 0.400%) due 1/25/24 | 99,099 | ||||||
Travelport Finance (Luxembourg) SARL: | ||||||||
76,950 | 9.000% (3-Month USD-LIBOR + 8.000%) due 2/28/25 | 78,653 | ||||||
29,817 | 5.203% (3-Month USD-LIBOR + 0.500%) due 5/29/26 | 26,425 | ||||||
75,000 | Traverse Midstream Partners LLC, 6.500% (1-Month USD-LIBOR + 0.550%) due 9/27/24 | 74,781 | ||||||
Tricorbraun Holdings Inc.: | ||||||||
459 | 1.696% (3-Month USD-LIBOR + 0.325%) due 3/3/28 | 455 | ||||||
61,228 | 3.750% (2-Month USD-LIBOR + 0.325%) due 3/3/28 | 60,738 | ||||||
135,000 | Triton Water Holdings Inc., 4.000% (3-Month USD-LIBOR + 0.350%) due 3/31/28 | 134,831 | ||||||
40,000 | Truck Hero Inc., 4.500% (1-Month USD-LIBOR + 0.375%) due 1/31/28 | 40,000 | ||||||
44,883 | U.S. Silica Co., 5.000% (1-Month USD-LIBOR + 0.400%) due 5/1/25 | 42,948 | ||||||
Uber Technologies Inc.: | ||||||||
124,679 | 3.593% (1-Month USD-LIBOR + 0.350%) due 4/4/25 | 124,612 | ||||||
9,820 | 3.593% (1-Month USD-LIBOR + 0.350%) due 2/25/27 | 9,814 | ||||||
63,826 | UGI Energy Services LLC, 3.843% (1-Month USD-LIBOR + 0.375%) due 8/13/26 | 63,826 | ||||||
UKG Inc.: | ||||||||
214,001 | 4.000% (3-Month USD-LIBOR + 0.325%) due 5/4/26 | 214,269 | ||||||
20,000 | 7.500% (3-Month USD-LIBOR + 0.675%) due 5/3/27 | 20,488 | ||||||
39,750 | Ultra Clean Holdings Inc., 3.843% (1-Month USD-LIBOR + 0.375%) due 8/27/25 | 39,800 | ||||||
55,000 | United AirLines Inc., 4.500% (3-Month USD-LIBOR + 0.375%) due 4/21/28 | 55,481 | ||||||
36,569 | United Natural Foods Inc., 3.593% (1-Month USD-LIBOR + 0.350%) due 10/22/25 | 36,602 | ||||||
29,625 | Univar Solutions USA Inc., 2.093% (1-Month USD-LIBOR + 0.200%) due 7/1/26 | 29,503 | ||||||
36,177 | Univision Communications Inc., 4.750% (1-Month USD-LIBOR + 0.375%) due 3/15/26 | 36,263 | ||||||
54,450 | Upstream Newco Inc., 4.593% (1-Month USD-LIBOR + 0.450%) due 11/20/26 | 54,427 | ||||||
206,850 | US Foods Inc., 2.093% (1-Month USD-LIBOR + 0.200%) due 9/13/26 | 203,431 | ||||||
4,988 | Utz Quality Foods LLC, 3.093% (1-Month USD-LIBOR + 0.300%) due 1/20/28 | 4,982 | ||||||
89,560 | Vantage Specialty Chemicals Inc., 4.500% (3-Month USD-LIBOR + 0.350%) due 10/28/24 | 86,873 | ||||||
5,000 | Verscend Holding Corp., 4.093% (1-Month USD-LIBOR + 0.400%) due 8/27/25 | 5,001 |
Schedules of Investments |
May 28, 2021# (unaudited) |
Destinations Core Fixed Income Fund (continued) |
Face Amount/Units | Security | Value | ||||||
SENIOR LOANS - 1.1%(e) (continued) | ||||||||
$ | 259,917 | VICI Properties 1 LLC, 1.843% (1-Month USD-LIBOR + 0.175%) due 12/20/24 | $ | 257,318 | ||||
30,000 | Virtusa Corp., 5.000% (1-Month USD-LIBOR + 0.425%) due 2/11/28 | 30,125 | ||||||
167,184 | Wand Newco 3 Inc., 3.093% (1-Month USD-LIBOR + 0.300%) due 2/5/26 | 165,305 | ||||||
39,899 | WaterBridge Midstream Operating LLC, 6.750% (3-Month USD-LIBOR + 0.575%) due 6/22/26 | 37,882 | ||||||
195,725 | Whatabrands LLC, 2.851% (1-Month USD-LIBOR + 0.275%) due 7/31/26 | 194,768 | ||||||
35,000 | Wheel Pros Inc., 5.250% (1-Month USD-LIBOR + 0.450%) due 5/11/28 | 35,081 | ||||||
105,000 | WIN Waste Innovations Holdings Inc., 3.250% (1-Month USD-LIBOR + 0.275%) due 3/24/28 | 104,775 | ||||||
70,000 | Zebra Buyer LLC, due 4/21/28(l) | 70,233 | ||||||
173,737 | Zelis Cost Management Buyer Inc., 3.610% (1-Month USD-LIBOR + 0.350%) due 9/30/26 | 173,303 | ||||||
20,000 | Ziggo Financing Partnership, 2.601% (1-Month USD-LIBOR + 0.250%) due 4/30/28 | 19,806 | ||||||
TOTAL SENIOR LOANS | ||||||||
(Cost - $23,412,036) | 23,509,549 | |||||||
Rating†† | ||||||||
MUNICIPAL BONDS - 0.0% | ||||||||
California - 0.0% | ||||||||
140,000 | AA- | Regents of the University of California Medical Center Pooled Revenue, 6.548% due 5/15/48 | 210,290 | |||||
360,000 | AA- | State of California, GO, 7.300% due 10/1/39 | 559,778 | |||||
Total California | 770,068 | |||||||
Connecticut - 0.0% | ||||||||
100,000 | A+ | State of Connecticut, GO, 3.000% due 7/1/21 | 100,232 | |||||
New York - 0.0% | ||||||||
200,000 | A | New York State Thruway Authority, 2.900% due 1/1/35 | 209,737 | |||||
TOTAL MUNICIPAL BONDS | ||||||||
(Cost - $1,088,740) | 1,080,037 |
Shares/Units | ||||||||
EXCHANGE TRADED FUND (ETF) - 1.3% | ||||||||
256,191 | iShares Core U.S. Aggregate Bond | 29,346,679 | ||||||
(Cost - $29,999,966) | ||||||||
COMMON STOCKS - 0.0% | ||||||||
COMMUNICATIONS - 0.0% | ||||||||
Telecommunications - 0.0% | ||||||||
1,885 | Frontier Communications Parent Inc.* | 47,087 | ||||||
DIVERSIFIED - 0.0% | ||||||||
SPACs - 0.0% | ||||||||
1,640 | Foresight Energy LLC/Foresight Energy Finance Corp.*(f)(g) | 30,791 | ||||||
ENERGY - 0.0% | ||||||||
Oil & Gas - 0.0% | ||||||||
1,922 | Gulfport Energy Corp.*(d) | 120,125 | ||||||
90 | Oasis Petroleum Inc. | 7,975 | ||||||
1,842 | Tapstone Energy LLC/Tapstone Energy Finance Corp.*(f)(g) | 4,992 |
Schedules of Investments |
May 28, 2021# (unaudited) |
Destinations Core Fixed Income Fund (continued) |
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
ENERGY - 0.0% (continued) | ||||||||
Oil & Gas - 0.0% (continued) | ||||||||
932 | Whiting Petroleum Corp.* | $ | 42,676 | |||||
Total Oil & Gas | 175,768 | |||||||
TOTAL ENERGY | 175,768 | |||||||
INDUSTRIAL - 0.0% | ||||||||
Engineering & Construction - 0.0% | ||||||||
3,092 | Mcdermott International Ltd.* | 1,515 | ||||||
TOTAL COMMON STOCKS | ||||||||
(Cost - $94,826) | 255,161 | |||||||
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS | ||||||||
(Cost - $2,303,112,207) | 2,279,832,698 |
Face Amount | ||||||||
SHORT-TERM INVESTMENTS - 6.1% | ||||||||
TIME DEPOSITS - 6.1% | ||||||||
$ | 16,181,744 | Banco Santander SA - Frankfurt, 0.005% due 6/1/21 | $ | 16,181,744 | ||||
58,609,162 | Skandinaviska Enskilda Banken AB - Stockholm, 0.005% due 6/1/21 | 58,609,162 | ||||||
58,672,881 | Sumitomo Mitsui Banking Corp. - Tokyo, 0.005% due 6/1/21 | 58,672,881 | ||||||
TOTAL TIME DEPOSITS | ||||||||
(Cost - $133,463,787) | 133,463,787 | |||||||
TOTAL INVESTMENTS - 109.8% | ||||||||
(Cost - $22,436,575,994) | 2,413,296,485 | |||||||
Liabilities in Excess of Other Assets - (9.8)% | (214,725,960 | ) | ||||||
TOTAL NET ASSETS - 100.0% | $ | 2,198,570,525 |
# | May 28, 2021 represents the last business day of the Fund’s fiscal first quarter. |
† | † All ratings are by Standard & Poor's Rating Service, unless otherwise noted. |
* | Non-income producing security. |
(a) | Restricted security that may be sold to “qualified institutional buyers” pursuant to the conditions of Rule 144A under the Securities Act of 1933, as amended. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees, unless otherwise noted. The aggregate value of restricted 144A holdings at May 28, 2021, amounts to approximately $435,171,243 and represents 19.79% of net assets. |
(b) | Security is perpetual in nature and has no stated maturity date. |
(c) | Payment in-kind security for which part of the income earned may be paid as additional principal. |
(d) | Security is currently in default. |
(e) | Variable rate security. Interest rate disclosed is that which was in effect at May 28, 2021. |
(f) | Security is valued in good faith at fair value by or under the direction of the Board of Trustees using significant unobservable inputs. |
(g) | Illiquid security. The aggregate value of illiquid holdings at May 28, 2021, amounts to approximately $30,045,642 and represents 1.37% of net assets. |
(h) | Interest only security. |
(i) | Principal only security. |
(j) | All or a portion of this security is pledged by the Fund as collateral for short sales or derivative transactions. |
(k) | This security is traded on a TBA basis. |
(l) | This position represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate. |
Schedules of Investments |
May 28, 2021# (unaudited) |
Destinations Core Fixed Income Fund (continued) |
Abbreviations used in this schedule: | ||
CLO | — | Collateralized Loan Obligation |
CMT | — | Constant Maturity Treasury Index |
GO | — | General Obligation |
LIBOR | — | London Interbank Offered Rate |
LLC | — | Limited Liability Company |
LP | — | Limited Partnership |
PCL | — | Public Company Limited |
PLC | — | Public Limited Company |
REMICS | — | Real Estate Mortgage Investment Conduit |
SARL | — | Société à Responsabilité Limitée |
SOFR | — | Secured Overnight Financing Rate |
SPACs | — | Special Purpose Acquisition Companies |
UMBS | — | Uniform Mortgage Backed Securities |
Summary of Investments by Security Type^ | ||||
Corporate Bonds & Notes | 24.2 | % | ||
Collateralized Mortgage Obligations | 21.1 | |||
U.S. Government Agencies & Obligations | 20.2 | |||
Mortgage-Backed Securities | 17.9 | |||
Asset-Backed Securities | 7.9 | |||
Exchange Traded Fund (ETF) | 1.2 | |||
Sovereign Bonds | 1.0 | |||
Senior Loans | 1.0 | |||
Municipal Bonds | 0.0 | * | ||
Common Stocks | 0.0 | * | ||
Short-Term Investments | 5.5 | |||
100.0 | % |
^ As a percentage of total investments.
* Position represents less than 0.05%.
At May 28, 2021, Destinations Core Fixed Income Fund had open exchange traded futures contracts as described below.
The unrealized appreciation on the open contracts was as follows:
Open Futures Contracts | Number of Contracts | Expiration Date (Month/Year) | Notional Amounts | Market Value | Unrealized Appreciation/ (Depreciation) | |||||||||||
Contracts to Buy: | ||||||||||||||||
U.S. 2 Year Note (CBT) | 52 | 9/21 | $ | 11,474,594 | $ | 11,478,188 | $ | 3,594 | ||||||||
U.S. Ultra Bond (CBT) | 42 | 9/21 | 7,743,379 | 7,780,500 | 37,121 | |||||||||||
40,715 | ||||||||||||||||
Contracts to Sell: | ||||||||||||||||
U.S. 10 Year Note (CBT) | 95 | 9/21 | $ | (12,532,346 | ) | $ | 12,534,063 | $ | (1,716 | ) | ||||||
U.S. 10 Year Ultra | 136 | 9/21 | (19,721,746 | ) | 19,713,625 | 8,120 | ||||||||||
U.S. 5 Year Note (CBT) | 363 | 9/21 | (44,936,214 | ) | 44,958,117 | (21,903 | ) | |||||||||
U.S. Long Bond (CBT) | 51 | 9/21 | (7,973,656 | ) | 7,983,094 | (9,438 | ) | |||||||||
(24,937 | ) | |||||||||||||||
Net Unrealized Appreciation on Open Exchange Traded Futures Contracts | $ | 15,778 |
Schedules of Investments |
May 28, 2021# (unaudited) |
Destinations Core Fixed Income Fund (concluded) |
Schedule of Forward Sale Commitments
Face Amounts | Security | Value | ||||||
Federal National Mortgage Association: | ||||||||
$ | 1,700,000 | 3.500% due 6/1/36(a) (Proceeds — $1,815,680) | $ | 1,815,619 | ||||
Government National Mortgage Association: | ||||||||
7,215,000 | 2.000% due 6/1/51(a) (Proceeds — $7,323,225) | 7,336,050 | ||||||
TOTAL OPEN FORWARD SALE COMMITMENTS | ||||||||
(Proceeds — $9,138,905) | $ | 9,151,669 |
(a) This security is traded on a TBA basis.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Low Duration Fixed Income Fund
Face Amount/Units† | Security | Value | ||||||
CORPORATE BONDS & NOTES - 50.5% | ||||||||
Basic Materials - 0.1% | ||||||||
$ | 110,000 | DuPont de Nemours Inc., Senior Unsecured Notes, 4.493% due 11/15/25 | $ | 125,468 | ||||
5,000 | Glencore Funding LLC, Company Guaranteed Notes, 4.125% due 5/30/23(a) | 5,326 | ||||||
200,000 | LG Chem Ltd., 3.250% due 10/15/24 | 215,697 | ||||||
200,000 | POSCO, Senior Unsecured Notes, 2.375% due 11/12/22 | 204,426 | ||||||
Total Basic Materials | 550,917 | |||||||
Communications - 17.1% | ||||||||
105,000 | AT&T Inc., Senior Unsecured Notes, 4.450% due 4/1/24 | 115,400 | ||||||
200,000 | Baidu Inc., Senior Unsecured Notes, 3.075% due 4/7/25 | 211,107 | ||||||
5,465,000 | CCO Holdings LLC/CCO Holdings Capital Corp., Senior Unsecured Notes, 4.000% due 3/1/23(a) | 5,505,987 | ||||||
1,032,000 | EUR | CentralNic Group PLC, Senior Secured Notes, 7.000% (3-Month EURIBOR + 7.000%) due 7/3/23(b) | 1,308,865 | |||||
835,000 | Cogent Communications Group Inc., Senior Secured Notes, 5.375% due 3/1/22(a) | 849,613 | ||||||
6,970,000 | CSC Holdings LLC, Senior Unsecured Notes, 6.750% due 11/15/21 | 7,133,795 | ||||||
9,455,000 | DISH DBS Corp., Company Guaranteed Notes, 6.750% due 6/1/21 | 9,455,000 | ||||||
2,827,000 | DISH Network Corp., Senior Unsecured Notes, 2.375% due 3/15/24 | 2,735,123 | ||||||
120,000 | eBay Inc., Senior Unsecured Notes, 2.750% due 1/30/23 | 124,508 | ||||||
8,286,000 | HC2 Holdings Inc., Senior Secured Notes, 8.500% due 2/1/26(a) | 8,182,425 | ||||||
11,457,000 | Hughes Satellite Systems Corp., Company Guaranteed Notes, 7.625% due 6/15/21 | 11,482,205 | ||||||
10,578,000 | EUR | Linkem SpA, Senior Secured Notes, 6.000% (3-Month EURIBOR + 6.000%) due 8/9/22(a)(b) | 12,900,516 | |||||
7,707,000 | Lumen Technologies Inc., Senior Unsecured Notes, 6.450% due 6/15/21 | 7,720,102 | ||||||
441,000 | Meredith Corp., Senior Secured Notes, 6.500% due 7/1/25(a) | 475,067 | ||||||
200,000 | SingTel Group Treasury Pte Ltd., Company Guaranteed Notes, 3.250% due 6/30/25 | 214,925 | ||||||
5,653,000 | Sirius XM Radio Inc., Company Guaranteed Notes, 3.875% due 8/1/22(a) | 5,677,817 | ||||||
8,654,000 | Sprint Corp., Company Guaranteed Notes, 7.250% due 9/15/21 | 8,787,531 | ||||||
200,000 | Tencent Holdings Ltd., Senior Unsecured Notes, 1.810% due 1/26/26(a) | 203,601 | ||||||
2,335,000 | VeriSign Inc., Senior Unsecured Notes, 4.625% due 5/1/23 | 2,338,199 | ||||||
120,000 | Verizon Communications Inc., Senior Unsecured Notes, 1.256% (3-Month USD-LIBOR + 1.100%) due 5/15/25(b) | 123,447 | ||||||
Total Communications | 85,545,233 | |||||||
Consumer Cyclical - 4.2% | ||||||||
1,272,000 | 1011778 BC ULC/New Red Finance Inc., Senior Secured Notes, 4.250% due 5/15/24(a) | 1,284,300 | ||||||
3,717,000 | At Home Holding III Inc., Senior Secured Notes, 8.750% due 9/1/25(a) | 4,144,455 | ||||||
250,000 | CK Hutchison International 21 Ltd., Company Guaranteed Notes, 1.500% due 4/15/26(a) | 251,797 | ||||||
Dollar Tree Inc., Senior Unsecured Notes: | ||||||||
75,000 | 3.700% due 5/15/23 | 79,538 | ||||||
35,000 | 4.000% due 5/15/25 | 38,780 | ||||||
1,700,000 | EUR | European Lingerie Group AB, Senior Secured Notes, 7.750% (3-Month EURIBOR + 7.750%) due 6/30/21(a)(b)(c)(d) | 932,918 | |||||
5,489,000 | Ford Motor Credit Co. LLC, Senior Unsecured Notes, 5.875% due 8/2/21 | 5,516,445 | ||||||
100,000 | General Motors Financial Co., Inc., Company Guaranteed Notes, 5.250% due 3/1/26 | 115,946 | ||||||
6,266,334 | Hawaiian Airlines Class B Pass-Through Certificates, Pass-Thru Certificates, 4.950% due 1/15/22 | 6,255,937 | ||||||
911,000 | Hercules Achievement Inc./Varsity Brands Holding Co., Inc., Senior Secured Notes, 9.000% (3-Month USD-LIBOR + 8.000%) due 12/22/24(a)(b) | 920,110 | ||||||
115,000 | Hyundai Capital America, Senior Unsecured Notes, 2.850% due 11/1/22(a) | 118,566 | ||||||
1,000,000 | EUR | SB Holdco PLC, Secured Notes, 8.000% (3-Month EURIBOR + 8.000%) due 7/13/22(b) | 1,234,744 | |||||
115,000 | Southwest Airlines Co., Senior Unsecured Notes, 4.750% due 5/4/23 | 123,996 | ||||||
Total Consumer Cyclical | 21,017,532 | |||||||
Consumer Non-cyclical - 10.0% | ||||||||
115,000 | AbbVie Inc., Senior Unsecured Notes, 2.300% due 11/21/22 | 118,327 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Low Duration Fixed Income Fund (continued)
Face Amount/Units† | Security | Value | ||||||
CORPORATE BONDS & NOTES - (continued) | ||||||||
Consumer Non-cyclical - 10.0% - (continued) | ||||||||
Anthem Inc., Senior Unsecured Notes: | ||||||||
$ | 35,000 | 3.300% due 1/15/23 | $ | 36,644 | ||||
75,000 | 3.500% due 8/15/24 | 81,286 | ||||||
5,461,000 | APX Group Inc., Senior Secured Notes, 7.875% due 12/1/22 | 5,488,469 | ||||||
110,000 | AstraZeneca PLC, Senior Unsecured Notes, 3.500% due 8/17/23 | 117,300 | ||||||
125,000 | BAT International Finance PLC, Company Guaranteed Notes, 1.668% due 3/25/26 | 124,740 | ||||||
2,733,000 | Chobani LLC/Chobani Finance Corp. Inc., Company Guaranteed Notes, 7.500% due 4/15/25(a) | 2,843,741 | ||||||
105,000 | Conagra Brands Inc., Senior Unsecured Notes, 4.300% due 5/1/24 | 116,087 | ||||||
6,250,000 | SEK | Desenio Holding AB, Secured Notes, 5.500% (3-Month SEK-STIBOR + 5.500%) due 12/16/24(b) | 773,889 | |||||
13,344,000 | Fresh Market Inc., Senior Secured Notes, 9.750% due 5/1/23(a) | 13,714,430 | ||||||
Gaming Innovation Group Inc. : | ||||||||
5,000,000 | SEK | 8.500% (3-Month SEK-STIBOR + 8.500%) due 6/11/24(b)(e) | 602,112 | |||||
18,500,000 | SEK | 8.500% (3-Month SEK-STIBOR + 8.500%) due 6/11/24(a)(b)(e) | 2,227,815 | |||||
105,000 | HCA Inc., Senior Secured Notes, 5.000% due 3/15/24 | 117,085 | ||||||
2,021,000 | Hertz Corp., Secured Notes, 7.625% due 6/1/22(a)(c)(d) | 2,210,469 | ||||||
200,000 | HPHT Finance 19 Ltd., Company Guaranteed Notes, 2.875% due 11/5/24 | 210,580 | ||||||
3,176,000 | Ingles Markets Inc., Senior Unsecured Notes, 5.750% due 6/15/23 | 3,183,940 | ||||||
6,895,000 | Jaguar Holding Co. II/PPD Development LP, Company Guaranteed Notes, 4.625% due 6/15/25(a) | 7,222,513 | ||||||
125,000 | Keurig Dr Pepper Inc., Company Guaranteed Notes, 0.750% due 3/15/24 | 125,230 | ||||||
PayPal Holdings Inc., Senior Unsecured Notes: | ||||||||
95,000 | 2.200% due 9/26/22 | 97,395 | ||||||
25,000 | 1.350% due 6/1/23 | 25,505 | ||||||
200,000 | PSA Treasury Pte Ltd., Company Guaranteed Notes, 2.500% due 4/12/26 | 209,410 | ||||||
65,000 | Royalty Pharma PLC, Company Guaranteed Notes, 0.750% due 9/2/23(a) | 65,031 | ||||||
400,000 | Service Corp. International, Senior Unsecured Notes, 8.000% due 11/15/21 | 413,200 | ||||||
2,611,000 | Surgery Center Holdings Inc., Company Guaranteed Notes, 6.750% due 7/1/25(a) | 2,653,429 | ||||||
65,000 | UnitedHealth Group Inc., Senior Unsecured Notes, 0.550% due 5/15/24 | 65,065 | ||||||
7,119,000 | UpHealth Inc., Senior Unsecured Notes, 6.250% due 3/15/26(d)(e) | 7,119,000 | ||||||
Total Consumer Non-cyclical | 49,962,692 | |||||||
Diversified - 1.1% | ||||||||
4,201,000 | EUR | LR Global Holding GmbH, Senior Secured Notes, 7.250% (3-Month EURIBOR + 7.250%) due 2/3/25(b) | 5,274,563 | |||||
Energy - 2.3% | ||||||||
5,520,260 | Martin Midstream Partners LP/Martin Midstream Finance Corp., Secured Notes, 10.000% due 2/29/24(a) | 5,713,469 | ||||||
200,000 | ONGC Videsh Vankorneft Pte Ltd., Company Guaranteed Notes, 2.875% due 1/27/22 | 202,574 | ||||||
4,416,000 | PBF Logistics LP/PBF Logistics Finance Corp., Company Guaranteed Notes, 6.875% due 5/15/23 | 4,399,440 | ||||||
200,000 | Petrobras Global Finance BV, Company Guaranteed Notes, 4.375% due 5/20/23 | 212,000 | ||||||
200,000 | Petronas Capital Ltd., Company Guaranteed Notes, 3.125% due 3/18/22 | 204,094 | ||||||
125,000 | Pioneer Natural Resources Co., Senior Unsecured Notes, 0.550% due 5/15/23 | 125,410 | ||||||
200,000 | Saudi Arabian Oil Co., Senior Unsecured Notes, 2.750% due 4/16/22 | 204,164 | ||||||
115,000 | Schlumberger Holdings Corp., Senior Unsecured Notes, 3.750% due 5/1/24(a) | 124,231 | ||||||
200,000 | Transportadora de Gas del Peru SA, Senior Unsecured Notes, 4.250% due 4/30/28 | 214,400 | ||||||
125,000 | Valero Energy Corp., Senior Unsecured Notes, 1.200% due 3/15/24 | 126,421 | ||||||
Total Energy | 11,526,203 | |||||||
Financial - 3.4% | ||||||||
115,000 | American Express Co., Senior Unsecured Notes, 3.700% due 11/5/21 | 116,396 | ||||||
120,000 | Athene Global Funding, Senior Secured Notes, 0.710% (SOFR rate + 0.700%) due 5/24/24(a)(b) | 120,257 | ||||||
125,000 | Avolon Holdings Funding Ltd., Company Guaranteed Notes, 3.625% due 5/1/22(a) | 128,065 | ||||||
200,000 | Banco Bilbao Vizcaya Argentaria Colombia SA, Subordinated Notes, 4.875% due 4/21/25 | 209,002 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Low Duration Fixed Income Fund (continued)
Face Amount/Units† | Security | Value | ||||||
CORPORATE BONDS & NOTES - (continued) | ||||||||
Financial - 3.4% - (continued) | ||||||||
$ | 150,000 | Banco Continental SAECA, Senior Unsecured Notes, 2.750% due 12/10/25(a) | $ | 147,151 | ||||
150,000 | Banco de Reservas de la Republica Dominicana, Subordinated Notes, 7.000% due 2/1/23 | 157,127 | ||||||
Bank of America Corp., Senior Unsecured Notes: | ||||||||
80,000 | 0.984% (3-Month USD-LIBOR + 0.790%) due 3/5/24(b) | 80,801 | ||||||
40,000 | 0.700% (SOFR rate + 0.690%) due 4/22/25(b) | 40,335 | ||||||
30,000 | Bank of Nova Scotia, Senior Unsecured Notes, 0.550% due 9/15/23 | 30,094 | ||||||
Capital One Financial Corp., Senior Unsecured Notes: | ||||||||
35,000 | 3.200% due 1/30/23 | 36,575 | ||||||
75,000 | 3.900% due 1/29/24 | 81,276 | ||||||
115,000 | Citigroup Inc., Senior Unsecured Notes, 1.158% (3-Month USD-LIBOR + 1.023%) due 6/1/24(b) | 116,568 | ||||||
451,000 | CTO Realty Growth Inc., Senior Unsecured Notes, 3.875% due 4/15/25(a) | 462,546 | ||||||
200,000 | Global Bank Corp., Senior Unsecured Notes, 4.500% due 10/20/21 | 201,100 | ||||||
105,000 | Goldman Sachs Group Inc., Senior Unsecured Notes, 3.500% due 4/1/25 | 114,478 | ||||||
200,000 | Grupo Aval Ltd., Company Guaranteed Notes, 4.750% due 9/26/22 | 206,752 | ||||||
100,000 | Industrial Senior Trust, Company Guaranteed Notes, 5.500% due 11/1/22 | 104,126 | ||||||
41,639 | Interoceanica IV Finance Ltd., Senior Secured Notes, zero coupon, due 11/30/25 | 39,130 | ||||||
120,000 | JPMorgan Chase & Co., Senior Unsecured Notes, 3.207% (3-Month USD-LIBOR + 0.695%) due 4/1/23(b) | 122,911 | ||||||
80,000 | Macquarie Bank Ltd., Senior Unsecured Notes, 2.100% due 10/17/22(a) | 82,024 | ||||||
30,000 | Macquarie Group Ltd., Senior Unsecured Notes, 4.150% (3-Month USD-LIBOR + 1.330%) due 3/27/24(a)(b) | 31,889 | ||||||
200,000 | Malayan Banking Bhd, Subordinated Notes, 3.905% (5-Year USD Swap Rate + 2.542%) due 10/29/26(b) | 201,996 | ||||||
105,000 | Marsh & McLennan Cos., Inc., Senior Unsecured Notes, 3.875% due 3/15/24 | 114,573 | ||||||
120,000 | Morgan Stanley, Senior Unsecured Notes, 0.529% (SOFR rate + 0.455%) due 1/25/24(b) | 120,258 | ||||||
NongHyup Bank, Senior Unsecured Notes: | ||||||||
200,000 | 1.250% due 7/20/25(a) | 200,459 | ||||||
200,000 | 1.250% due 7/20/25 | 200,459 | ||||||
200,000 | Oversea-Chinese Banking Corp., Ltd, Subordinated Notes, 1.832% (5-Year CMT Index + 1.580%) due 9/10/30(a)(b) | 200,320 | ||||||
140,447 | Peru Enhanced Pass-Through Finance Ltd., Pass-Thru Certificates, zero coupon, due 6/2/25 | 133,776 | ||||||
105,000 | Prudential Financial Inc., Senior Unsecured Notes, 3.500% due 5/15/24 | 114,445 | ||||||
115,000 | Royal Bank of Canada, Senior Unsecured Notes, 0.535% (SOFR rate + 0.525%) due 1/20/26(b) | 115,256 | ||||||
100,000 | Scotiabank Peru SAA, Subordinated Notes, 4.500% (3-Month USD-LIBOR + 3.856%) due 12/13/27(b) | 100,001 | ||||||
12,500,000 | SEK | Stockwik Förvaltning AB, Senior Secured Notes, 7.000% (3-Month SEK-STIBOR + 7.000%) due 9/3/23(b) | 1,542,860 | |||||
9,424,000 | StoneX Group Inc., Senior Secured Notes, 8.625% due 6/15/25(a) | 10,083,680 | ||||||
250,000 | Temasek Financial I Ltd., Company Guaranteed Notes, 2.375% due 1/23/23 | 258,152 | ||||||
Truist Financial Corp., Senior Unsecured Notes: | ||||||||
55,000 | 2.200% due 3/16/23 | 56,814 | ||||||
55,000 | 2.850% due 10/26/24 | 59,143 | ||||||
200,000 | United Overseas Bank Ltd., Subordinated Notes, 3.500% (5-Year USD Swap Rate + 2.236%) due 9/16/26(b) | 201,064 | ||||||
5,040,000 | SEK | VNV Global AB, Senior Secured Notes, 5.750% due 10/4/22 | 626,692 | |||||
115,000 | Wells Fargo & Co., Senior Unsecured Notes, 1.654% (SOFR rate + 1.600%) due 6/2/24(b) | 117,875 | ||||||
115,000 | Welltower Inc., Senior Unsecured Notes, 3.625% due 3/15/24 | 123,967 | ||||||
110,000 | WP Carey Inc., Senior Unsecured Notes, 4.250% due 10/1/26 | 123,839 | ||||||
Total Financial | $ | 17,324,232 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Low Duration Fixed Income Fund (continued)
Face Amount/Units† | Security | Value | ||||||
CORPORATE BONDS & NOTES - (continued) | ||||||||
Government - 0.0% | ||||||||
200,000 | Banco Latinoamericano de Comercio Exterior SA, Senior Unsecured Notes, 2.375% due 9/14/25(a) | 204,400 | ||||||
Industrial - 4.6% | ||||||||
3,000,000 | Altera Shuttle Tankers LLC, Senior Unsecured Notes, 7.125% due 8/15/22 | 3,030,000 | ||||||
2,623,000 | Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc., Company Guaranteed Notes, 6.000% due 2/15/25(a) | 2,702,215 | ||||||
110,000 | Boeing Co., Senior Unsecured Notes, 4.508% due 5/1/23 | 117,497 | ||||||
1,466,000 | Borealis Finance LLC, Senior Secured Notes, 7.500% due 11/16/23(a) | 1,498,985 | ||||||
1,370,000 | C3 Nano Inc., Senior Secured Notes, 6.500% due 2/15/24(a)(d) | 1,376,621 | ||||||
120,000 | Carrier Global Corp., Senior Unsecured Notes, 2.242% due 2/15/25 | 125,462 | ||||||
7,905,000 | Hillman Group Inc., Company Guaranteed Notes, 6.375% due 7/15/22(a) | 7,910,533 | ||||||
120,000 | Penske Truck Leasing Co. LP/PTL Finance Corp., Senior Unsecured Notes, 2.700% due 11/1/24(a) | 126,937 | ||||||
120,000 | Republic Services Inc., Senior Unsecured Notes, 2.500% due 8/15/24 | 126,608 | ||||||
5,652,000 | SFL Corp., Ltd., Senior Unsecured Notes, 5.750% due 10/15/21 | 5,729,998 | ||||||
Union Pacific Corp., Senior Unsecured Notes: | ||||||||
115,000 | 3.200% due 6/8/21 | 115,062 | ||||||
10,000 | 3.150% due 3/1/24 | 10,733 | ||||||
Total Industrial | 22,870,651 | |||||||
Insurance - 0.3% | ||||||||
13,830,000 | SEK | ADDvise Group AB, 7.250% (3-Month SEK-STIBOR + 7.250%) due 5/21/24(b)(d) | 1,659,641 | |||||
Mining - 1.6% | ||||||||
7,800,000 | Copper Mountain Mining Corp., 8.000% due 4/9/26(a) | 8,099,000 | ||||||
Technology - 3.4% | ||||||||
5,142,000 | EUR | Azerion Holding BV, Senior Secured Notes, 7.250% due 4/28/24 | 6,443,363 | |||||
2,075,000 | Blast Motion Inc., Senior Secured Notes, 7.000% due 1/15/24(a)(e) | 2,068,775 | ||||||
4,499,000 | Diebold Nixdorf Inc., Company Guaranteed Notes, 8.500% due 4/15/24 | 4,604,997 | ||||||
125,000 | Microchip Technology Inc., Senior Secured Notes, 0.972% due 2/15/24(a) | 125,233 | ||||||
3,634,000 | Tempo Acquisition LLC/Tempo Acquisition Finance Corp., Senior Unsecured Notes, 6.750% due 6/1/25(a) | 3,699,775 | ||||||
Total Technology | 16,942,143 | |||||||
Utilities - 2.4% | ||||||||
200,000 | AES Gener SA, Junior Subordinated Notes, 7.125% (5-Year USD Swap Rate + 4.644%) due 3/26/79(a)(b) | 212,800 | ||||||
55,000 | Atmos Energy Corp., Senior Unsecured Notes, 0.625% due 3/9/23 | 55,052 | ||||||
Brazos Electric Power Cooperative Inc., : | ||||||||
6,027,000 | zero coupon, due 3/23/49(d)(e) | 5,424,300 | ||||||
4,493,333 | zero coupon, due 3/23/49(d)(e) | 4,044,000 | ||||||
DTE Energy Co., Senior Unsecured Notes: | ||||||||
60,000 | 2.529% due 10/1/24 | 63,231 | ||||||
45,000 | 1.050% due 6/1/25 | 44,934 | ||||||
139,100 | Empresa Electrica Angamos SA, Senior Secured Notes, 4.875% due 5/25/29 | 139,100 | ||||||
200,000 | Empresa Electrica Guacolda SA, Senior Unsecured Notes, 4.560% due 4/30/25 | 149,918 | ||||||
200,000 | Enel Generacion Chile SA, Senior Unsecured Notes, 4.250% due 4/15/24 | 214,028 | ||||||
200,000 | Inkia Energy Ltd., Senior Unsecured Notes, 5.875% due 11/9/27 | 203,000 | ||||||
200,000 | Korea East-West Power Co., Ltd., Senior Unsecured Notes, 1.750% due 5/6/25(a) | 204,153 | ||||||
85,000 | NextEra Energy Capital Holdings Inc., Company Guaranteed Notes, 0.650% due 3/1/23 | 85,503 | ||||||
115,000 | Pacific Gas & Electric Co., 1st Mortgage Notes, 1.750% due 6/16/22 | 115,007 | ||||||
110,000 | PSEG Power LLC, Company Guaranteed Notes, 3.850% due 6/1/23 | 117,099 | ||||||
628,000 | Rockpoint Gas Storage Canada Ltd., Senior Secured Notes, 7.000% due 3/31/23(a) | 634,280 | ||||||
115,000 | Southern California Edison Co., 1st Mortgage Notes, 0.840% (SOFR rate + 0.830%) due 4/1/24(b) | 115,554 | ||||||
200,000 | State Grid Overseas Investment Ltd., Senior Unsecured Notes, 1.000% due 8/5/25 | 195,444 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Low Duration Fixed Income Fund (continued)
Face Amount/Units† | Security | Value | ||||||
CORPORATE BONDS & NOTES - (continued) | ||||||||
Utilities - 2.4% - (continued) | ||||||||
$ | 200,000 | TNB Global Ventures Capital Bhd, Senior Unsecured Notes, 3.244% due 10/19/26 | $ | 212,963 | ||||
Total Utilities | 12,230,366 | |||||||
TOTAL CORPORATE BONDS & NOTES (Cost - $251,217,305) | 253,207,573 | |||||||
SENIOR LOANS (b) - 16.8% | ||||||||
Alliance HealthCare Services Inc.: | ||||||||
4,219,191 | 5.500% (1-Month USD-LIBOR + 4.500%) due 10/24/23(e) | 4,008,231 | ||||||
3,236,672 | Change Healthcare Holdings LLC, 3.500% (3-Month USD-LIBOR + 1.500%) due 3/1/24 | 3,233,727 | ||||||
6,693,408 | Cincinnati Bell Inc., 4.250% (1-Month USD-LIBOR + 3.250%) due 10/2/24 | 6,685,041 | ||||||
2,241,224 | Diamond Resorts International Inc., due 9/2/23(f) | 2,241,986 | ||||||
4,764,000 | EP Energy LLC/Everest Acquisition Finance Inc, due 11/23/21(d)(e)(f) | 4,761,023 | ||||||
476,014 | Fieldwood Energy LLC, 9.750% (1-Month USD-LIBOR + 8.750%) due 8/4/21 | 490,294 | ||||||
5,346,441 | Forterra Finance LLC, 4.000% (1-Month USD-LIBOR + 3.000%) due 10/25/23 | 5,344,034 | ||||||
3,717,444 | Golden Nugget Online Gaming Inc., 13.000% (3-Month USD-LIBOR + 12.000%) due 10/4/23 | 4,126,363 | ||||||
6,130,932 | Hertz Corp., due 12/31/21(f) | 6,140,129 | ||||||
623,397 | Hillman Group Inc., 4.093% (1-Month USD-LIBOR + 2.500%) due 5/30/25 | 621,527 | ||||||
1,328,000 | Intelsat Jackson Holdings SA, 6.500% (3-Month USD-LIBOR + 4.500%) due 7/13/22 | 1,334,640 | ||||||
6,636,000 | Jo-Ann Stores LLC, due 10/20/23(f) | 6,622,728 | ||||||
10,715,000 | JZ Capital Partners Ltd., 16.000% (1 Month USD-LIBOR + 11.000% cash + 4.000% PIK) due 6/12/22(d)(e) | 10,715,000 | ||||||
7,909,109 | K&N Parent Inc., 5.750% (3-Month USD-LIBOR + 3.750%) due 10/20/23 | 7,572,972 | ||||||
2,695,935 | Lealand Finance Co. BV, due 6/28/24(f) | 1,752,358 | ||||||
14,647,000 | Mallinckrodt International Finance SA, due 2/28/22(f) | 14,386,137 | ||||||
4,277,402 | Pixelle Specialty Solutions LLC, 7.500% (1-Month USD-LIBOR + 6.500%) due 10/31/24 | 4,260,464 | ||||||
TOTAL SENIOR LOANS (Cost - $84,791,504) | 84,296,654 | |||||||
ASSET-BACKED SECURITIES - 5.3% | ||||||||
438,420 | Aaset Trust, Series 2019-2, Class A, 3.376% due 10/16/39(a) | 439,124 | ||||||
AccessLex Institute: | ||||||||
193,805 | Series 2004-2, Class A3, 0.366% (3-Month USD-LIBOR + 0.190%) due 10/25/24(b) | 191,479 | ||||||
217,368 | Series 2007-A, Class A3, 0.447% (3-Month USD-LIBOR + 0.300%) due 5/25/36(b) | 214,407 | ||||||
Affirm Asset Securitization Trust: | ||||||||
200,000 | Series 2020-A, Class A, 2.100% due 2/18/25(a) | 201,908 | ||||||
171,533 | Series 2020-Z2, Class A, 1.900% due 1/15/25(a) | 172,990 | ||||||
300,000 | Series 2021-Z1, Class A, 1.070% due 8/15/25(a)(d) | 300,168 | ||||||
1,043,486 | Ajax Mortgage Loan Trust, Series 2019-C, Class A, 3.950% due 10/25/58(a)(b) | 1,044,319 | ||||||
1,000,000 | Allegro CLO X Ltd., Series 2019-1A, Class AR, 1.338% (3-Month USD-LIBOR + 1.150%) due 7/20/32(a)(b) | 1,000,070 | ||||||
114,925 | Aqua Finance Trust, Series 2020-AA, Class A, 1.900% due 7/17/46(a) | 116,252 | ||||||
177,000 | Arbor Realty Collateralized Loan Obligation Ltd., Series 2020-FL1, Class AS, 1.501% (1-Month USD-LIBOR + 1.400%) due 2/15/35(a)(b) | 177,336 | ||||||
192,000 | Arbor Realty Commercial Real Estate Notes Ltd., Series 2019-FL1, Class B, 1.801% (1-Month USD-LIBOR + 1.700%) due 5/15/37(a)(b) | 191,942 | ||||||
149,720 | Arivo Acceptance Auto Loan Receivables Trust, Series 2019-1, Class A, 2.990% due 7/15/24(a) | 151,455 | ||||||
500,000 | Bain Capital Credit CLO, Series 2019-1A, Class AR, zero coupon, (3-Month USD-LIBOR + 1.130%) due 4/19/34(a)(b) | 499,873 | ||||||
367,378 | Bayview Opportunity Master Fund IVa Trust, Series 2019-SBR1, Class A1, step bond to yield, 3.475% due 6/28/34(a) | 369,453 | ||||||
BSPRT Issuer Ltd.: | ||||||||
352,000 | Series 2019-FL5, Class A, 1.251% (1-Month USD-LIBOR + 1.150%) due 5/15/29(a)(b) | 351,790 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Low Duration Fixed Income Fund (continued)
Face Amount/Units† | Security | Value | ||||||
ASSET-BACKED SECURITIES - 5.3% (continued) | ||||||||
$ | 193,000 | Series 2021-FL6, Class A, 1.201% (1-Month USD-LIBOR + 1.100%) due 3/15/36(a)(b) | $ | 193,000 | ||||
471,667 | CAL Funding IV Ltd., Series 2020-1A, Class A, 2.220% due 9/25/45(a) | 477,464 | ||||||
991,833 | Carlyle Global Market Strategies CLO Ltd., Series 2014-3RA, Class A1A, 1.231% (3-Month USD-LIBOR + 1.050%) due 7/27/31(a)(b) | 992,344 | ||||||
500,000 | Catamaran CLO Ltd., Series 2018-1A, Class A1, 1.426% (3-Month USD-LIBOR + 1.250%) due 10/25/31(a)(b) | 500,058 | ||||||
100,000 | CHCP Ltd., Series 2021-FL1, Class AS, 1.401% (1-Month USD-LIBOR + 1.300%) due 2/15/38(a)(b) | 100,062 | ||||||
177,000 | CLNC Ltd., Series 2019-FL1, Class AS, 1.648% (1-Month USD-LIBOR + 1.550%) due 8/20/35(a)(b) | 175,924 | ||||||
303,374 | Commonbond Student Loan Trust, Series 2020-AGS, Class A, 1.980% due 8/25/50(a) | 308,115 | ||||||
83,379 | DT Auto Owner Trust, Series 2020-2A, Class A, 1.140% due 1/16/24(a) | 83,671 | ||||||
60,991 | Earnest Student Loan Program LLC, Series 2017-A, Class A2, 2.650% due 1/25/41(a) | 61,281 | ||||||
700,000 | Exeter Automobile Receivables Trust, Series 2021-1A, Class C, 0.740% due 1/15/26 | 700,219 | ||||||
Freed ABS Trust: | ||||||||
167,127 | Series 2019-2, Class A, 2.620% due 11/18/26(a) | 167,551 | ||||||
121,671 | Series 2020-FP1, Class A, 2.520% due 3/18/27(a) | 122,383 | ||||||
200,000 | FS RIALTO, Series 2021-FL2, Class A, 1.401% (1-Month USD-LIBOR + 1.300%) due 4/16/28(a)(b) | 200,062 | ||||||
500,000 | Galaxy XV CLO Ltd., Series 2013-15A, Class AR, 1.384% (3-Month USD-LIBOR + 1.200%) due 10/15/30(a)(b) | 500,139 | ||||||
500,000 | Galaxy XXVII CLO Ltd., Series 2018-27A, Class A, 1.176% (3-Month USD-LIBOR + 1.020%) due 5/16/31(a)(b) | 500,164 | ||||||
66,955 | Genesis Private Label Amortizing Trust, Series 2020-1, Class A, 2.080% due 7/20/30(a) | 67,016 | ||||||
250,000 | Genesis Sales Finance Master Trust, Series 2020-AA, Class A, 1.650% due 9/22/25(a) | 252,045 | ||||||
15,823 | GLS Auto Receivables Issuer Trust, Series 2019-2A, Class A, 3.060% due 4/17/23(a) | 15,848 | ||||||
500,000 | Greywolf CLO V Ltd., Series 2015-1A, Class A1R, 1.336% (3-Month USD-LIBOR + 1.160%) due 1/27/31(a)(b) | 500,458 | ||||||
1,000,000 | Greywolf CLO VII Ltd., Series 2018-2A, Class A1, 1.368% (3-Month USD-LIBOR + 1.180%) due 10/20/31(a)(b) | 999,998 | ||||||
1,000,000 | Gulf Stream Meridian 3 Ltd., Series 2021-IIIA, Class A1, 1.481% (3-Month USD-LIBOR + 1.320%) due 4/15/34(a)(b) | 1,000,368 | ||||||
500,000 | Hayfin US XII Ltd., Series 2018-8A, Class A, 1.308% (3-Month USD-LIBOR + 1.120%) due 4/20/31(a)(b) | 499,782 | ||||||
200,000 | HGI CRE CLO Ltd., Series 2021-FL1, Class A, 1.160% (1-Month USD-LIBOR + 1.050%) due 6/16/36(a)(b)(d) | 200,125 | ||||||
365,368 | Hilton Grand Vacations Trust, Series 2020-AA, Class A, 2.740% due 2/25/39(a) | 380,536 | ||||||
Hunt CRE Ltd.: | ||||||||
101,528 | Series 2017-FL1, Class A, 1.101% (1-Month USD-LIBOR + 1.000%) due 8/15/34(a)(b) | 101,528 | ||||||
200,000 | Series 2018-FL2, Class A, 1.181% (1-Month USD-LIBOR + 1.080%) due 8/15/28(a)(b) | 199,881 | ||||||
Invitation Homes Trust: | ||||||||
178,609 | Series 2017-SFR2, Class A, 0.951% (1-Month USD-LIBOR + 0.850%) due 12/17/36(a)(b) | 178,929 | ||||||
172,474 | Series 2018-SFR1, Class A, 0.801% (1-Month USD-LIBOR + 0.700%) due 3/17/37(a)(b) | 172,635 | ||||||
54,634 | Laurel Road Prime Student Loan Trust, Series 2019-A, Class A1FX, 2.340% due 10/25/48(a) | 55,556 | ||||||
173,000 | LMREC Inc., Series 2019-CRE3, Class A, 1.493% (1-Month USD-LIBOR + 1.400%) due 12/22/35(a)(b) | 173,001 | ||||||
173,000 | LoanCore Issuer Ltd., Series 2019-CRE2, Class A, 1.231% (1-Month USD-LIBOR + 1.130%) due 5/15/36(a)(b) | 172,948 | ||||||
500,000 | Madison Park Funding XXXIV Ltd., Series 2019-34A, Class AR, 1.296% (3-Month USD-LIBOR + 1.120%) due 4/25/32(a)(b) | 500,090 | ||||||
Marlette Funding Trust: | ||||||||
53,402 | Series 2019-2A, Class A, 3.130% due 7/16/29(a) | 53,624 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Low Duration Fixed Income Fund (continued)
Face Amount/Units† | Security | Value | ||||||
ASSET-BACKED SECURITIES - 5.3% (continued) | ||||||||
$ | 186,000 | Series 2019-4A, Class C, 3.760% due 12/17/29(a) | $ | 192,879 | ||||
156,554 | Navient Private Education Refi Loan Trust, Series 2020-GA, Class A, 1.170% due 9/16/69(a) | 157,479 | ||||||
341,000 | NLY Commercial Mortgage Trust, Series 2019-FL2, Class AS, 1.701% (1-Month USD-LIBOR + 1.600%) due 2/15/36(a)(b) | 340,796 | ||||||
988,761 | Northwoods Capital XVI Ltd., Series 2017-16A, Class A, 1.426% (3-Month USD-LIBOR + 1.270%) due 11/15/30(a)(b) | 989,047 | ||||||
982,916 | Ocean Trails CLO V, Series 2014-5A, Class ARR, 1.468% (3-Month USD-LIBOR + 1.280%) due 10/13/31(a)(b) | 982,974 | ||||||
250,000 | OCP CLO Ltd., Series 2014-5A, Class A1R, 1.256% (3-Month USD-LIBOR + 1.080%) due 4/26/31(a)(b) | 250,286 | ||||||
Pagaya AI Debt Selection Trust: | ||||||||
196,986 | Series 2020-3, Class A, 2.100% due 5/17/27(a) | 198,421 | ||||||
380,000 | Series 2021-1, Class A, 1.180% due 11/15/27(a) | 380,742 | ||||||
350,000 | Sofi Consumer Loan Program Trust, Series 2018-2, Class C, 4.250% due 4/26/27(a) | 361,985 | ||||||
1,000,000 | Sound Point CLO VI-R Ltd., Series 2014-2RA, Class A, 1.438% (3-Month USD-LIBOR + 1.250%) due 10/20/31(a)(b) | 1,000,096 | ||||||
500,000 | Sound Point CLO XVIII Ltd., Series 2017-4A, Class A1, 1.308% (3-Month USD-LIBOR + 1.120%) due 1/21/31(a)(b) | 499,877 | ||||||
1,000,000 | Steele Creek CLO Ltd., Series 2018-2A, Class A, 1.355% (3-Month USD-LIBOR + 1.200%) due 8/18/31(a)(b) | 1,000,404 | ||||||
200,000 | STWD Ltd., Series 2021-FL2, Class A, 1.309% (1-Month USD-LIBOR + 1.200%) due 4/18/38(a)(b) | 200,188 | ||||||
18,386 | Tesla Auto Lease Trust, Series 2018-B, Class A, 3.710% due 8/20/21(a) | 18,427 | ||||||
150,000 | Theorem Funding Trust, Series 2020-1A, Class B, 3.950% due 10/15/26(a) | 154,582 | ||||||
484,924 | THL Credit Wind River CLO Ltd., Series 2013-2A, Class AR, 1.420% (3-Month USD-LIBOR + 1.230%) due 10/18/30(a)(b) | 484,948 | ||||||
1,000,000 | Trimaran Cavu Ltd., Series 2019-1A, Class A1, 1.648% (3-Month USD-LIBOR + 1.460%) due 7/20/32(a)(b) | 1,005,689 | ||||||
200,000 | TRTX Issuer Ltd., Series 2021-FL4, Class A, 1.301% (1-Month USD-LIBOR + 1.200%) due 3/15/38(a)(b) | 199,875 | ||||||
525,854 | Upstart Securitization Trust, Series 2020-3, Class A, 1.702% due 11/20/30(a) | 529,900 | ||||||
500,000 | Vibrant ClO VIII Ltd., Series 2018-8A, Class A1A, 1.328% (3-Month USD-LIBOR + 1.140%) due 1/20/31(a)(b) | 499,701 | ||||||
500,000 | Wellfleet CLO X Ltd., Series 2019-XA, Class A1R, 1.344% (3-Month USD-LIBOR + 1.170%) due 7/20/32(a)(b) | 500,151 | ||||||
423,910 | Wind River CLO Ltd., Series 2013-1A, Class A1R, 1.438% (3-Month USD-LIBOR + 1.250%) due 7/20/30(a)(b) | 423,982 | ||||||
TOTAL ASSET-BACKED SECURITIES (Cost - $26,279,220) | 26,401,800 | |||||||
COLLATERALIZED MORTGAGE OBLIGATIONS - 5.1% | ||||||||
535,012 | Angel Oak Mortgage Trust, Series 2020-6, Class A1, 1.261% due 5/25/65(a)(b) | 536,958 | ||||||
200,000 | Bancorp Commercial Mortgage Trust, Series 2019-CRE5, Class B, 1.601% (1-Month USD-LIBOR + 1.500%) due 3/15/36(a)(b) | 199,874 | ||||||
BANK: | ||||||||
1,515,998 | Series 2017-BNK4, Class XA, 1.392% due 5/15/50(b)(g) | 89,045 | ||||||
1,823,938 | Series 2017-BNK6, Class XA, 0.814% due 7/15/60(b)(g) | 68,271 | ||||||
BBCMS Mortgage Trust: | ||||||||
192,000 | Series 2017-DELC, Class B, 1.131% (1-Month USD-LIBOR + 1.030%) due 8/15/36(a)(b) | 191,939 | ||||||
240,000 | Series 2018-TALL, Class B, 1.072% (1-Month USD-LIBOR + 0.971%) due 3/15/37(a)(b) | 235,787 | ||||||
200,000 | Series 2019-BWAY, Class A, 1.057% (1-Month USD-LIBOR + 0.956%) due 11/15/34(a)(b) | 199,419 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Low Duration Fixed Income Fund (continued)
Face Amount/Units† | Security | Value | ||||||
COLLATERALIZED MORTGAGE OBLIGATIONS - 5.1% (continued) | ||||||||
$ | 1,489,326 | Series 2021-C9, Class XA, 1.646% due 2/15/54(b)(g) | $ | 187,273 | ||||
75,000 | BHMS, Series 2018-ATLS, Class A, 1.351% (1-Month USD-LIBOR + 1.250%) due 7/15/35(a)(b) | 74,999 | ||||||
765,230 | BRAVO Residential Funding Trust, Series 2021-A, Class A1, step bond to yield, 1.991% due 12/31/49(a) | 766,759 | ||||||
BXMT Ltd.: | ||||||||
192,000 | Series 2020-FL2, Class C, 1.751% (1-Month USD-LIBOR + 1.650%) due 2/15/38(a)(b) | 191,292 | ||||||
193,000 | Series 2021-FL4, Class A, 1.151% (1-Month USD-LIBOR + 1.050%) due 5/15/38(a)(b) | 193,000 | ||||||
1,653,529 | CD Mortgage Trust, Series 2017-CD4, Class XA, 1.285% due 5/10/50(b)(g) | 87,614 | ||||||
CFCRE Commercial Mortgage Trust: | ||||||||
1,318,980 | Series 2017-C8, Class XA, 1.590% due 6/15/50(b)(g) | 87,514 | ||||||
287,000 | Series 2017-C8, Class XB, 0.945% due 6/15/50(b)(g) | 14,471 | ||||||
Citigroup Commercial Mortgage Trust: | ||||||||
178,000 | Series 2018-TBR, Class B, 1.251% (1-Month USD-LIBOR + 1.150%) due 12/15/36(a)(b) | 177,444 | ||||||
386,000 | Series 2019-PRM, Class D, 4.350% due 5/10/36(a) | 402,135 | ||||||
395,056 | COLT Mortgage Loan Trust, Series 2020-2, Class A1, 1.853% due 3/25/65(a)(b) | 398,057 | ||||||
363,713 | COLT Mortgage Pass-Through Certificates, Series 2021-1R, Class A1, 0.857% due 5/25/65(a)(b) | 363,420 | ||||||
Commercial Mortgage Trust: | ||||||||
17,207,957 | Series 2013-CR9, Class XA, 0.067% due 7/10/45(b)(g) | 16,267 | ||||||
1,483,693 | Series 2013-LC6, Class XA, 1.314% due 1/10/46(b)(g) | 22,302 | ||||||
24,997 | Series 2014-CR15, Class A2, 2.928% due 2/10/47 | 24,930 | ||||||
320,392 | Series 2014-FL5, Class C, 2.251% (1-Month USD-LIBOR + 2.150%) due 10/15/31(a)(b) | 312,382 | ||||||
344,000 | Series 2014-FL5, Class D, 4.101% (1-Month USD-LIBOR + 4.000%) due 10/15/31(a)(b) | 330,240 | ||||||
227,000 | Series 2018-HCLV, Class A, 1.101% (1-Month USD-LIBOR + 1.000%) due 9/15/33(a)(b) | 225,858 | ||||||
Credit Suisse Commercial Mortgage Capital Trust: | ||||||||
70,000 | Series 2017-CHOP, Class D, 2.001% (1-Month USD-LIBOR + 1.900%) due 7/15/32(a)(b) | 67,527 | ||||||
573,000 | Series 2017-CHOP, Class E, 3.401% (1-Month USD-LIBOR + 3.300%) due 7/15/32(a)(b) | 534,171 | ||||||
333,643 | Series 2020-BPL1, Class A1, step bond to yield, 3.393% due 2/25/24(a) | 334,448 | ||||||
634,460 | Series 2020-RPL3, Class A1, 2.691% due 3/25/60(a)(b) | 642,863 | ||||||
344,000 | Credit Suisse Commercial Mortgage Securities Corp., Series 2019-SKLZ, Class A, 1.351% (1-Month USD-LIBOR + 1.250%) due 1/15/34(a)(b) | 345,227 | ||||||
CSAIL Commercial Mortgage Trust: | ||||||||
808,388 | Series 2017-C8, Class XA, 1.222% due 6/15/50(b)(g) | 35,668 | ||||||
4,767,697 | Series 2017-CX10, Class XA, 0.713% due 11/15/50(b)(g) | 171,403 | ||||||
3,483,087 | Series 2018-CX12, Class XA, 0.603% due 8/15/51(b)(g) | 123,140 | ||||||
182,000 | DBGS Mortgage Trust, Series 2018-5BP, Class D, 1.451% (1-Month USD-LIBOR + 1.350%) due 6/15/33(a)(b) | 181,302 | ||||||
200,000 | DBJPM Mortgage Trust, Series 2016-C3, Class A5, 2.890% due 8/10/49 | 214,454 | ||||||
Deephaven Residential Mortgage Trust: | ||||||||
18,069 | Series 2017-1A, Class A1, 2.725% due 12/26/46(a)(b) | 18,063 | ||||||
18,281 | Series 2017-1A, Class A2, 2.928% due 12/26/46(a)(b) | 18,273 | ||||||
328,688 | Federal Home Loan Mortgage Corp. (FHLMC), REMICS, Series 4911, Class MB, 3.000% due 9/25/49 | 344,368 | ||||||
Federal National Mortgage Association, Aces: | ||||||||
1,194,960 | Series 2020-M49, Class 1A1, 1.256% due 11/25/30(b) | 1,198,530 | ||||||
697,670 | Series 2021-M5, Class A1, 1.461% due 1/25/33(b) | 708,199 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Low Duration Fixed Income Fund (continued)
Face Amount/Units† | Security | Value | ||||||
COLLATERALIZED MORTGAGE OBLIGATIONS - 5.1% (continued) | ||||||||
$ | 1,094,670 | Series 2021-M6, Class A1, 1.482% due 3/25/33(b) | $ | 1,111,861 | ||||
299,256 | Series 2021-M7, Class A1, 1.718% due 3/25/31(b) | 307,631 | ||||||
239,000 | GB Trust, Series 2020-FLIX, Class D, 2.451% (1-Month USD-LIBOR + 2.350%) due 8/15/37(a)(b) | 239,964 | ||||||
403,879 | GCAT LLC, Series 2019-NQM1, Class A1, step bond to yield, 2.985% due 2/25/59(a) | 405,850 | ||||||
361,000 | GS Mortgage Securities Corp. Trust, Series 2012-ALOH, Class A, 3.551% due 4/10/34(a) | 366,008 | ||||||
GS Mortgage Securities Trust: | ||||||||
4,501,538 | Series 2016-GS4, Class XA, 0.501% due 11/10/49(b)(g) | 105,605 | ||||||
1,750,734 | Series 2017-GS6, Class XA, 1.031% due 5/10/50(b)(g) | 94,771 | ||||||
3,588,770 | Series 2017-GS8, Class XA, 0.970% due 11/10/50(b)(g) | 167,845 | ||||||
JP Morgan Chase Commercial Mortgage Securities Trust: | ||||||||
1,973,158 | Series 2014-C20, Class XA, 0.935% due 7/15/47(b)(g) | 34,356 | ||||||
4,075,000 | Series 2020-MKST, Class XCP, 2.628% due 12/15/36(a)(b)(g) | 57,977 | ||||||
JPMBB Commercial Mortgage Securities Trust: | ||||||||
1,016,736 | Series 2015-C32, Class XA, 1.210% due 11/15/48(b)(g) | 31,274 | ||||||
200,000 | Series 2016-C1, Class A5, 3.576% due 3/15/49 | 220,220 | ||||||
Legacy Mortgage Asset Trust: | ||||||||
435,677 | Series 2020-GS4, Class A1, step bond to yield, 3.250% due 2/25/60(a) | 440,838 | ||||||
893,498 | Series 2021-SL1, Class A, 1.991% due 12/31/49(a)(b)(d) | 905,907 | ||||||
159,300 | LoanCore Issuer Ltd., Series 2019-CRE3, Class AS, 1.471% (1-Month USD-LIBOR + 1.370%) due 4/15/34(a)(b) | 158,712 | ||||||
MF1 Ltd.: | ||||||||
158,073 | Series 2019-FL2, Class A, 1.222% (1-Month USD-LIBOR + 1.130%) due 12/25/34(a)(b) | 158,073 | ||||||
225,000 | Series 2020-FL3, Class A, 2.151% (1-Month USD-LIBOR + 2.050%) due 7/15/35(a)(b) | 227,286 | ||||||
Morgan Stanley Capital I Trust: | ||||||||
1,370,607 | Series 2016-UB11, Class XA, 1.498% due 8/15/49(b)(g) | 77,904 | ||||||
4,018,282 | Series 2016-UB12, Class XA, 0.739% due 12/15/49(b)(g) | 114,006 | ||||||
76,000 | Series 2017-ASHF, Class D, 2.301% (1-Month USD-LIBOR + 2.200%) due 11/15/34(a)(b) | 75,429 | ||||||
909,309 | Series 2017-H1, Class XA, 1.351% due 6/15/50(b)(g) | 53,555 | ||||||
Natixis Commercial Mortgage Securities Trust: | ||||||||
350,000 | Series 2018-850T, Class C, 1.254% (1-Month USD-LIBOR + 1.154%) due 7/15/33(a)(b) | 340,130 | ||||||
350,000 | Series 2018-850T, Class D, 1.554% (1-Month USD-LIBOR + 1.454%) due 7/15/33(a)(b) | 337,155 | ||||||
New Residential Mortgage Loan Trust: | ||||||||
421,904 | Series 2020-NQM1, Class A2, 2.718% due 1/26/60(a)(b) | 428,269 | ||||||
694,314 | Series 2020-RPL2, Class A1, 3.578% due 8/25/25(a)(b) | 707,878 | ||||||
539,970 | NYMT Loan Trust, Series 2020-SP2, Class A1, 2.944% due 10/25/60(a)(b) | 542,914 | ||||||
144,218 | PFP Ltd., Series 2019-6, Class A, 1.148% (1-Month USD-LIBOR + 1.050%) due 4/14/37(a)(b) | 143,314 | ||||||
940,556 | PRPM, Series 2019-GS1, Class A1, 3.500% due 10/25/24(a)(b) | 947,098 | ||||||
PRPM LLC: | ||||||||
603,495 | Series 2020-3, Class A1, step bond to yield, 2.857% due 9/25/25(a) | 607,211 | ||||||
693,820 | Series 2021-4, Class A1, step bond to yield, 1.867% due 4/25/26(a) | 694,256 | ||||||
299,200 | Shelter Growth CRE Issuer Ltd., Series 2019-FL2, Class B, 1.901% (1-Month USD-LIBOR + 1.800%) due 5/15/36(a)(b) | 296,049 | ||||||
159,932 | SLIDE, Series 2018-FUN, Class A, 1.001% (1-Month USD-LIBOR + 0.900%) due 6/15/31(a)(b) | 159,975 | ||||||
147,435 | Tharaldson Hotel Portfolio Trust, Series 2018-THL, Class B, 1.356% (1-Month USD-LIBOR + 1.250%) due 11/11/34(a)(b) | 146,878 | ||||||
UBS Commercial Mortgage Trust: | ||||||||
1,640,632 | Series 2012-C1, Class XA, 2.052% due 5/10/45(a)(b)(g) | 12,313 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Low Duration Fixed Income Fund (continued)
Face Amount/Units† | Security | Value | ||||||
COLLATERALIZED MORTGAGE OBLIGATIONS - 5.1% (continued) | ||||||||
$ | 1,000,354 | Series 2017-C1, Class XA, 1.522% due 6/15/50(b)(g) | $ | 69,310 | ||||
386,000 | Series 2018-NYCH, Class D, 2.201% (1-Month USD-LIBOR + 2.100%) due 2/15/32(a)(b) | 372,461 | ||||||
Verus Securitization Trust: | ||||||||
1,139,047 | Series 2019-INV2, Class A3, 3.219% due 7/25/59(a)(b) | 1,159,229 | ||||||
222,195 | Series 2020-2, Class A1, 2.226% due 5/25/60(a)(b) | 224,316 | ||||||
771,927 | Series 2021-R1, Class A2, 1.057% due 10/25/63(a)(b) | 769,594 | ||||||
316,883 | Vista Point Securitization Trust, Series 2020-2, Class A1, 1.475% due 4/25/65(a)(b) | 318,530 | ||||||
433,611 | VOLT XCIV LLC, Series 2021-NPL3, Class A1, step bond to yield, 2.240% due 2/27/51(a)(d) | 434,367 | ||||||
909,879 | VOLT XCIX LLC, Series 2021-NPL8, Class A1, step bond to yield, 2.116% due 4/25/51(a) | 910,734 | ||||||
Wells Fargo Commercial Mortgage Trust: | ||||||||
2,436,899 | Series 2015-LC22, Class XA, 0.771% due 9/15/58(b)(g) | 68,234 | ||||||
4,916,175 | Series 2015-NXS2, Class XA, 0.662% due 7/15/58(b)(g) | 114,632 | ||||||
90,902 | Series 2021-SAVE, Class A, 1.251% (1-Month USD-LIBOR + 1.150%) due 2/15/40(a)(b) | 91,184 | ||||||
90,902 | Series 2021-SAVE, Class B, 1.551% (1-Month USD-LIBOR + 1.450%) due 2/15/40(a)(b) | 91,127 | ||||||
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS | ||||||||
(Cost - $27,458,031) | 25,677,116 | |||||||
Rating†† | ||||||||
MUNICIPAL BONDS - 0.8% | ||||||||
Puerto Rico - 0.8% | ||||||||
Puerto Rico Highway & Transportation Authority,: | ||||||||
1,900,000 | C(h) | zero coupon, due 7/1/22 | 1,762,250 | |||||
2,820,000 | C(h) | zero coupon, due 7/1/23 | 2,446,350 | |||||
Total Puerto Rico | 4,208,600 | |||||||
TOTAL MUNICIPAL BONDS | ||||||||
(Cost - $4,195,758) | 4,208,600 | |||||||
SOVEREIGN BONDS - 0.5% | ||||||||
Brazil - 0.0% | ||||||||
200,000 | Brazilian Government International Bond, 2.875% due 6/6/25 | 205,958 | ||||||
Colombia - 0.0% | ||||||||
200,000 | Colombia Government International Bond, 2.625% due 3/15/23 | 204,440 | ||||||
Indonesia - 0.1% | ||||||||
200,000 | Indonesia Government International Bond, 3.375% due 4/15/23 | 210,356 | ||||||
300,000 | Perusahaan Penerbit SBSN Indonesia III, 3.300% due 11/21/22 | 312,033 | ||||||
Total Indonesia | 522,389 | |||||||
Panama - 0.1% | ||||||||
200,000 | Panama Government International Bond, 3.750% due 3/16/25 | 217,502 | ||||||
Peru - 0.1% | ||||||||
250,000 | Peruvian Government International Bond, 2.392% due 1/23/26 | 257,472 | ||||||
Qatar - 0.0% | ||||||||
200,000 | Qatar Government International Bond, 2.375% due 6/2/21 | 200,020 | ||||||
Saudi Arabia - 0.1% | ||||||||
250,000 | Saudi Government International Bond, 2.875% due 3/4/23 | 259,750 | ||||||
South Korea - 0.1% | ||||||||
250,000 | Korea Development Bank, 1.000% due 9/9/26 | 248,876 | ||||||
200,000 | Korea Electric Power Corp., 1.125% due 6/15/25 | 199,589 | ||||||
Total South Korea | 448,465 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Low Duration Fixed Income Fund (continued)
Face Amount/Units† | Security | Value | ||||||
SOVEREIGN BONDS - (continued) | ||||||||
United Arab Emirates - 0.0% | ||||||||
$ | 200,000 | Abu Dhabi Government International Bond, 2.500% due 4/16/25(a) | $ | 212,000 | ||||
TOTAL SOVEREIGN BONDS | ||||||||
(Cost - $2,504,830) | 2,527,996 | |||||||
U.S. GOVERNMENT OBLIGATIONS - 0.4% | ||||||||
U.S. Treasury Notes: | ||||||||
1,130,000 | 0.375% due 3/31/22 | 1,132,869 | ||||||
1,000,000 | 0.375% due 4/15/24 | 1,002,500 | ||||||
TOTAL U.S. GOVERNMENT OBLIGATIONS | ||||||||
(Cost - $2,134,300) | 2,135,369 | |||||||
MORTGAGE-BACKED SECURITIES - 0.4% | ||||||||
FHLMC - 0.2% | ||||||||
964,779 | Freddie Mac Pool, 1.500% due 2/1/36 | 977,366 | ||||||
FNMA - 0.2% | ||||||||
960,000 | Federal National Mortgage Association (FNMA), 2.000% due 1/1/36 | 992,710 | ||||||
TOTAL MORTGAGE-BACKED SECURITIES | ||||||||
(Cost - $1,994,031) | 1,970,076 |
Shares/Units | ||||||||
COMMON STOCKS - 7.7% | ||||||||
BASIC MATERIALS - 0.1% | ||||||||
Forest Products & Paper - 0.1% | ||||||||
20,309 | Appvion Inc.*(d) | 262,392 | ||||||
DIVERSIFIED - 7.4% | ||||||||
SPACs - 7.4% | ||||||||
21,948 | 26 Capital Acquisition Corp., Class A Shares* | 212,237 | ||||||
1 | 7GC & Co. Holdings Inc., Class A Shares* | 10 | ||||||
23,979 | Adit EdTech Acquisition Corp.* | 231,637 | ||||||
5 | Aequi Acquisition Corp., Class A Shares* | 48 | ||||||
23,979 | Alkuri Global Acquisition Corp., Class A Shares* | 235,474 | ||||||
9,681 | Alpha Capital Acquisition Co., Class A Shares* | 93,518 | ||||||
38,728 | Anzu Special Acquisition Corp. I* | 383,407 | ||||||
31,583 | Ares Acquisition Corp.*(i) | 316,462 | ||||||
27,530 | Arrowroot Acquisition Corp., Class A Shares* | 265,664 | ||||||
25,628 | Athena Technology Acquisition Corp.* | 254,486 | ||||||
23,979 | Athlon Acquisition Corp., Class A Shares* | 230,678 | ||||||
177,273 | Atlantic Avenue Acquisition Corp., Class A Shares* | 1,719,548 | ||||||
3 | Atlantic Coastal Acquisition Corp., Class A Shares* | 30 | ||||||
23,979 | Authentic Equity Acquisition Corp., Class A Shares* | 231,877 | ||||||
137,418 | BGP Acquisition Corp., Class A Shares*(d)(e) | 1,298,600 | ||||||
23,979 | Bite Acquisition Corp.* | 230,918 | ||||||
1 | BOA Acquisition Corp., Class A Shares* | 10 | ||||||
4,140 | Bright Lights Acquisition Corp., Class A Shares* | 40,282 | ||||||
78,591 | Cartesian Growth Corp.* | 780,409 | ||||||
10,575 | Cascade Acquisition Corp., Class A Shares* | 104,058 | ||||||
133,246 | Cerberus Telecom Acquisition Corp., Class A Shares*(i) | 1,315,138 | ||||||
41,903 | CF Acquisition Corp. IV, Class A Shares*(i) | 406,040 | ||||||
46,444 | CF Acquisition Corp. VI* | 462,582 | ||||||
43,373 | Clarim Acquisition Corp.* | 428,959 | ||||||
3,315 | Clarim Acquisition Corp., Class A Shares* | 32,122 | ||||||
31,129 | Cohn Robbins Holdings Corp., Class A Shares* | 305,687 | ||||||
23,979 | COVA Acquisition Corp., Class A Shares* | 232,356 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Low Duration Fixed Income Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
DIVERSIFIED - 7.4% - (continued) | ||||||||
SPACs - 7.4% - (continued) | ||||||||
500 | Crown PropTech Acquisitions, Class A Shares* | $ | 4,844 | |||||
7,704 | DHB Capital Corp.* | 76,732 | ||||||
3,300 | DHC Acquisition Corp., Class A Shares* | 31,746 | ||||||
63,566 | Disruptive Acquisition Corp. I* | 635,024 | ||||||
5 | Edify Acquisition Corp., Class A Shares* | 48 | ||||||
51,531 | EJF Acquisition Corp.* | 512,218 | ||||||
18,589 | Empowerment & Inclusion Capital I Corp.* | 183,845 | ||||||
23,979 | Empowerment & Inclusion Capital I Corp., Class A Shares* | 232,356 | ||||||
1,900 | Environmental Impact Acquisition Corp., Class A Shares* | 18,468 | ||||||
1,460 | Epiphany Technology Acquisition Corp., Class A Shares* | 14,118 | ||||||
23,979 | EQ Health Acquisition Corp., Class A Shares*(d) | 233,076 | ||||||
59,814 | Equity Distribution Acquisition Corp., Class A Shares* | 586,177 | ||||||
1,790 | Executive Network Partnering Corp., Class A Shares* | 17,399 | ||||||
23,979 | Fintech Evolution Acquisition Group, Class A Shares* | 232,596 | ||||||
224 | Foresight Acquisition Corp., Class A Shares* | 2,222 | ||||||
58,605 | Forum Merger IV Corp.* | 581,948 | ||||||
61,115 | GigCapital4 Inc.* | 610,992 | ||||||
29,178 | Global Partner Acquisition Corp. II* | 289,154 | ||||||
3,000 | Goal Acquisitions Corp.* | 28,890 | ||||||
90,017 | Golden Falcon Acquisition Corp., Class A Shares* | 868,664 | ||||||
58,742 | Gores Guggenheim Inc.* | 583,308 | ||||||
6,100 | Graf Acquisition Corp. IV* | 61,000 | ||||||
61,193 | Hamilton Lane Alliance Holdings I Inc., Class A Shares* | 595,408 | ||||||
504 | Healthcare Capital Corp., Class A Shares* | 4,859 | ||||||
23,979 | Healthcare Services Acquisition Corp., Class A Shares* | 231,397 | ||||||
364 | HH&L Acquisition Co., Class A Shares* | 3,545 | ||||||
23,979 | Ignyte Acquisition Corp.* | 231,637 | ||||||
51,527 | Isleworth Healthcare Acquisition Corp.* | 501,358 | ||||||
23,979 | Itiquira Acquisition Corp., Class A Shares* | 230,198 | ||||||
23,979 | Jack Creek Investment Corp., Class A Shares* | 230,678 | ||||||
965 | Kismet Acquisition Two Corp., Class A Shares* | 9,322 | ||||||
26,649 | Marlin Technology Corp., Class A Shares* | 264,625 | ||||||
468,448 | Mason Industrial Technology Inc., Class A Shares* | 4,525,208 | ||||||
14,797 | Noble Rock Acquisition Corp.* | 147,082 | ||||||
23,979 | North Atlantic Acquisition Corp., Class A Shares* | 230,678 | ||||||
52,110 | Oaktree Acquisition Corp. II, Class A Shares* | 509,115 | ||||||
120,600 | Omnichannel Acquisition Corp., Class A Shares* | 1,180,674 | ||||||
43,737 | One Equity Partners Open Water I Corp., Class A Shares* | 421,625 | ||||||
23,979 | Oyster Enterprises Acquisition Corp., Class A Shares* | 231,637 | ||||||
39,200 | Peridot Acquisition Corp. II* | 391,216 | ||||||
4,417 | Pontem Corp.* | 44,082 | ||||||
12,783 | PWP Forward Acquisition Corp. I* | 126,552 | ||||||
49,915 | RMG Acquisition Corp. III* | 488,169 | ||||||
11,305 | RXR Acquisition Corp.* | 113,050 | ||||||
2,220 | SCP & CO Healthcare Acquisition Co., Class A Shares* | 21,467 | ||||||
38,349 | Seven Oaks Acquisition Corp., Class A Shares*(i) | 374,670 | ||||||
23,979 | Silver Crest Acquisition Corp., Class A Shares* | 231,158 | ||||||
112,363 | Skydeck Acquisition Corp.* | 1,118,012 | ||||||
47,645 | Starboard Value Acquisition Corp., Class A Shares*(i) | 472,162 | ||||||
126,892 | Stratim Cloud Acquisition Corp.* | 1,262,575 | ||||||
4,799 | Supernova Partners Acquisition Co. III Ltd.* | 47,990 | ||||||
65,340 | Tailwind International Acquisition Corp., Class A Shares* | 633,798 | ||||||
63,698 | Tailwind Two Acquisition Corp., Class A Shares*(d) | 620,419 | ||||||
25,622 | Tech & Energy Transition Corp.* | 256,220 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Low Duration Fixed Income Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
DIVERSIFIED - 7.4% - (continued) | ||||||||
SPACs - 7.4% - (continued) | ||||||||
115,315 | Tekkorp Digital Acquisition Corp., Class A Shares* | $ | 1,126,628 | |||||
12,881 | Thimble Point Acquisition Corp., Class A Shares* | 125,203 | ||||||
85,905 | Tishman Speyer Innovation Corp. II* | 859,050 | ||||||
2,500 | TLG Acquisition One Corp., Class A Shares* | 24,175 | ||||||
1 | Tuatara Capital Acquisition Corp., Class A Shares* | 10 | ||||||
319,748 | Vector Acquisition Corp. II, Class A Shares* | 3,152,715 | ||||||
72 | Virtuoso Acquisition Corp., Class A Shares* | 706 | ||||||
22,732 | Z-Work Acquisition Corp.* | 225,956 | ||||||
Total SPACs | 36,882,091 | |||||||
TOTAL DIVERSIFIED | 36,882,091 | |||||||
ENERGY - 0.0% | ||||||||
Oil & Gas Services - 0.0% | ||||||||
3,121 | Superior Energy Services Inc.*(d)(e) | 106,114 | ||||||
FINANCIAL - 0.2% | ||||||||
Diversified Financial Services - 0.2% | ||||||||
66,302 | OceanTech Acquisitions I Corp.* | 661,694 | ||||||
TOTAL COMMON STOCKS | ||||||||
(Cost - $37,645,421) | 37,912,291 | |||||||
EXCHANGE TRADED FUND (ETF) - 5.0% | ||||||||
490,565 | iShares Core 1-5 Year USD Bond(i) | |||||||
(Cost - $24,978,839) | 25,224,852 | |||||||
PREFERRED STOCK - 0.7% | ||||||||
FINANCIAL - 0.7% | ||||||||
Equity Real Estate Investment Trusts (REITs) - 0.7% | ||||||||
142,531 | Gladstone Land Corp., 5.000% | |||||||
(Cost - $3,563,275) | 3,654,495 | |||||||
WARRANTS - 0.0% | ||||||||
DIVERSIFIED - 0.0% | ||||||||
SPACs - 0.0% | ||||||||
68,709 | BGP Acquisition Corp.*(d) | 56,341 | ||||||
14,495 | Hamilton Lane Alliance Holdings I Inc.*(d) | 9,858 | ||||||
25,763 | Isleworth Healthcare Acquisition Corp.*(d) | 16,231 | ||||||
154,774 | Mason Industrial Technology Inc.*(d) | 123,819 | ||||||
14,479 | One Equity Partners Open Water I Corp.*(d) | 10,716 | ||||||
9,983 | RMG Acquisition Corp. III* | 8,686 | ||||||
21,780 | Tailwind International Acquisition Corp.*(d) | 14,595 | ||||||
21,232 | Tailwind Two Acquisition Corp.*(d) | 15,075 | ||||||
Total SPACs | 255,321 | |||||||
TOTAL DIVERSIFIED | 255,321 | |||||||
TOTAL WARRANTS | ||||||||
(Cost - $234,565) | 255,321 | |||||||
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS | ||||||||
(Cost - $466,997,079) | 467,472,143 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Low Duration Fixed Income Fund (continued)
Face Amount | Security | Value | ||||||
SHORT-TERM INVESTMENTS - 13.9% | ||||||||
TIME DEPOSITS - 13.9% | ||||||||
$ | 6,132,086 | Banco Bilbao Vizcaya Argentaria SA – Madrid, 0.005% due 6/1/21 | $ | 6,132,086 | ||||
60,425,847 | Banco Santander SA - Frankfurt, 0.005% due 6/1/21 | 60,425,847 | ||||||
3,323,569 | BNP Paribas - Paris, 0.005% due 6/1/21 | 3,323,569 | ||||||
TOTAL TIME DEPOSITS | ||||||||
(Cost - $69,881,502) | 69,881,502 |
Shares/Units | ||||||||
INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING - 0.3% | ||||||||
MONEY MARKET FUND - 0.3% | ||||||||
1,371,335 | Federated Government Obligations Fund, Premier Class, 0.025%(j) | |||||||
(Cost - $1,371,335) | 1,371,335 | |||||||
TOTAL INVESTMENTS - 107.4% | ||||||||
(Cost - $538,249,916) | 538,724,980 | |||||||
Liabilities in Excess of Other Assets - (7.4)% | (37,421,244 | ) | ||||||
TOTAL NET ASSETS - 100.0% | $ | 501,303,736 |
† | Face amount denominated in U.S. dollars, unless otherwise noted. |
†† | All ratings are by Standard & Poor’s Rating Service, unless otherwise noted. |
# | May 28, 2021 represents the last business day of the Fund’s fiscal first quarter. |
* | Non-income producing security. |
(a) | Restricted security that may be sold to “qualified institutional buyers” pursuant to the conditions of Rule 144A under the Securities Act of 1933, as amended. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees, unless otherwise noted. The aggregate value of restricted 144A holdings at May 28, 2021, amounts to approximately $163,767,882 and represents 32.67% of net assets. |
(b) | Variable rate security. Interest rate disclosed is that which was in effect at May 28, 2021. |
(c) | Security is currently in default. |
(d) | Illiquid security. The aggregate value of illiquid holdings at May 28, 2021, amounts to $42,850,775 and represents 8.55% of net assets. |
(e) | Security is valued in good faith at fair value by or under the direction of the Board of Trustees using significant unobservable inputs. |
(f) | This position represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate. |
(g) | Interest only security. |
(h) | Rating by Moody's Investors Service. |
(i) | All or a portion of this security is on loan. |
(j) | Represents investment of collateral received from securities lending transactions. |
Abbreviations used in this schedule: | ||
ABS | — | Asset-Based Security |
CLO | — | Collateralized Loan Obligation |
CMT | — | Constant Maturity Treasury Index |
EURIBOR | — | Euro Interbank Offered Rate |
LIBOR | — | London Interbank Offered Rate |
LLC | — | Limited Liability Company |
LP | — | Limited Partnership |
PLC | — | Public Limited Company |
SOFR | — | Secured Overnight Financing Rate |
REMICS | — | Real Estate Mortgage Investment Conduit |
SPACs | — | Special Purpose Acquisition Companies |
STIBOR | — | Stockholm Interbank Offered Rate |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Low Duration Fixed Income Fund (concluded)
Summary of Investments by Security Type^ | ||||
Corporate Bonds & Notes | 47.0 | % | ||
Senior Loans | 15.6 | |||
Common Stocks | 7.0 | |||
Asset-Backed Securities | 4.9 | |||
Collateralized Mortgage Obligations | 4.8 | |||
Exchange Traded Fund (ETF) | 4.7 | |||
Municipal Bonds | 0.8 | |||
Preferred Stock | 0.7 | |||
Sovereign Bonds | 0.5 | |||
U.S. Government Agencies & Obligations | 0.4 | |||
Mortgage-Backed Securities | 0.4 | |||
Warrants | 0.0 | * | ||
Short-Term Investments | 13.0 | |||
Money Market Fund | 0.2 | |||
100.0 | % |
^ As a percentage of total investments.
* Position represents less than 0.05%.
At May 28, 2021, Destinations Low Duration Fixed Income Fund had open forward foreign currency contracts as described below.
The unrealized appreciation/(depreciation) on the open contracts were as follows:
Foreign Currency | Local Currency | Counterparty | Market Value | Settlement Date | Unrealized Appreciation | Unrealized (Depreciation) | Unrealized Appreciation/ (Depreciation) | |||||||||||||||||||
Contracts to Buy: | ||||||||||||||||||||||||||
Euro | 284,000 | BBH | $ | 346,423 | 6/15/21 | $ | – | $ | (1,482 | ) | $ | (1,482 | ) | |||||||||||||
Norwegian Krone | 5,130,000 | BBH | 613,635 | 6/15/21 | 253 | – | 253 | |||||||||||||||||||
$ | 253 | $ | (1,482 | ) | $ | (1,229 | ) | |||||||||||||||||||
Contracts to Sell: | ||||||||||||||||||||||||||
Euro | 23,500,000 | BBH | 28,665,248 | 6/15/21 | $ | – | $ | (68,568 | ) | $ | (68,568 | ) | ||||||||||||||
Norwegian Krone | 10,219,000 | BBH | 1,222,365 | 6/15/21 | 17,175 | – | 17,175 | |||||||||||||||||||
Swedish Krona | 29,890,000 | BBH | 3,599,798 | 6/15/21 | – | (7,901 | ) | (7,901 | ) | |||||||||||||||||
Swedish Krona | 13,830,000 | BBH | 1,665,614 | 6/15/21 | – | (6,723 | ) | (6,723 | ) | |||||||||||||||||
$ | 17,175 | $ | (83,192 | ) | $ | (66,017 | ) | |||||||||||||||||||
Net Unrealized Depreciation on Open Forward Foreign Currency Contracts | $ | 17,428 | $ | (84,674 | ) | $ | (67,246 | ) |
Counterparty Abbreviations used in this schedule:
BBH — Brown Brothers Harriman & Co.
Currency Abbreviations used in this schedule:
EUR — Euro
SEK — Swedish Krona
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Global Fixed Income Opportunities Fund
Face Amount/Units† | Security | Value | |||||||
CORPORATE BONDS & NOTES - 65.2% | |||||||||
Australia - 0.2% | |||||||||
$ | 1,300,000 | QBE Insurance Group Ltd., Subordinated Notes, 6.750% (USD Swap Rate + 4.300%) due 12/2/44(a)@ | $ | 1,470,950 | |||||
Bermuda - 0.3% | |||||||||
600,000 | Credicorp Ltd., Senior Unsecured Notes, 2.750% due 6/17/25(b) | 600,900 | |||||||
Digicel Group Holdings Ltd.: | |||||||||
374,051 | Senior Unsecured Notes, 8.000% due 4/1/25(b)(c) | 315,138 | |||||||
61,489 | Subordinated Notes, 7.000% (b)(c)(d) | 46,117 | |||||||
234,000 | Geopark Ltd., Company Guaranteed Notes, 6.500% due 9/21/24 | 241,078 | |||||||
800,000 | Inkia Energy Ltd., Senior Unsecured Notes, 5.875% due 11/9/27 | 812,000 | |||||||
Total Bermuda | 2,015,233 | ||||||||
Brazil - 0.9% | |||||||||
2,500,000 | Banco Bradesco SA, Senior Unsecured Notes, 2.850% due 1/27/23(b) | 2,560,025 | |||||||
500,000 | Banco BTG Pactual SA, Subordinated Notes, 7.750% (5-Year CMT Index + 5.257%) due 2/15/29(a)(b) | 541,250 | |||||||
3,900,000 | Itau Unibanco Holding SA, Subordinated Notes, 3.875% (5-Year CMT Index + 3.446%) due 4/15/31(a) | 3,894,930 | |||||||
Total Brazil | 6,996,205 | ||||||||
British Virgin Islands - 0.3% | |||||||||
1,783,000 | State Grid Overseas Investment 2013 Ltd., Company Guaranteed Notes, 3.125% due 5/22/23 | 1,866,193 | |||||||
500,000 | State Grid Overseas Investment Ltd., Senior Unsecured Notes, 1.000% due 8/5/25 | 488,611 | |||||||
Total British Virgin Islands | 2,354,804 | ||||||||
Canada - 3.1% | |||||||||
950,000 | Canacol Energy Ltd., Company Guaranteed Notes, 7.250% due 5/3/25 | 997,510 | |||||||
12,700,000 | Copper Mountain Mining Corp., 8.000% due 4/9/26(b) | 13,186,833 | |||||||
750,000 | Emera Inc., Junior Subordinated Notes, 6.750% (3-Month USD-LIBOR + 5.440%) due 6/15/76(a) | 863,107 | |||||||
735,000 | Enbridge Inc., Subordinated Notes, 5.750% (5-Year CMT Index + 5.314%) due 7/15/80(a) | 806,662 | |||||||
1,000,000 | MEGlobal Canada ULC, Company Guaranteed Notes, 5.000% due 5/18/25(b) | 1,123,200 | |||||||
598,000 | Rockpoint Gas Storage Canada Ltd., Senior Secured Notes, 7.000% due 3/31/23(b) | 603,980 | |||||||
6,339,000 | Tacora Resources Inc., Senior Secured Notes, 8.250% due 5/15/26(b) | 6,576,713 | |||||||
Total Canada | 24,158,005 | ||||||||
Cayman Islands - 4.0% | |||||||||
3,400,000 | Alibaba Group Holding Ltd., Senior Unsecured Notes, 2.800% due 6/6/23 | 3,545,512 | |||||||
Baidu Inc., Senior Unsecured Notes: | |||||||||
1,100,000 | 3.500% due 11/28/22 | 1,144,878 | |||||||
2,400,000 | 3.875% due 9/29/23 | 2,555,498 | |||||||
650,000 | 3.075% due 4/7/25 | 686,098 | |||||||
7,750,000 | CK Hutchison International 21 Ltd., Company Guaranteed Notes, 1.500% due 4/15/26(b) | 7,805,716 | |||||||
200,000 | ENN Energy Holdings Ltd., Senior Unsecured Notes, 3.250% due 7/24/22 | 204,453 | |||||||
2,898,000 | Grupo Aval Ltd., Company Guaranteed Notes, 4.750% due 9/26/22 | 2,995,836 | |||||||
4,500,000 | HPHT Finance 19 Ltd., Company Guaranteed Notes, 2.875% due 11/5/24 | 4,738,057 | |||||||
416,391 | Interoceanica IV Finance Ltd., Senior Secured Notes, zero coupon, due 11/30/25 | 391,304 | |||||||
297,748 | Peru Enhanced Pass-Through Finance Ltd., Pass Thru Certificates, zero coupon, due 6/2/25 | 283,605 | |||||||
2,732,201 | SPARC EM SPC Panama Metro Line 2 SP, Senior Secured Notes, zero coupon, due 12/5/22(b) | 2,691,440 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Global Fixed Income Opportunities Fund (continued)
Face Amount/Units† | Security | Value | |||||||
CORPORATE BONDS & NOTES - (continued) | |||||||||
Cayman Islands - 4.0% - (continued) | |||||||||
Tencent Holdings Ltd., Senior Unsecured Notes: | |||||||||
$ | 374,000 | 3.280% due 4/11/24 | $ | 397,351 | |||||
3,500,000 | 1.810% due 1/26/26(b) | 3,563,019 | |||||||
Total Cayman Islands | 31,002,767 | ||||||||
Chile - 3.8% | |||||||||
AES Gener SA, Junior Subordinated Notes: | |||||||||
1,000,000 | 7.125% (5-Year USD Swap Rate + 4.644%) due 3/26/79(a). | 1,064,000 | |||||||
800,000 | 7.125% (5-Year USD Swap Rate + 4.644%) due 3/26/79(a)(b). | 851,200 | |||||||
3,400,000 | Chile Electricity PEC SpA, Senior Secured Notes, zero coupon, due 1/25/28(b) | 2,779,500 | |||||||
400,000 | Colbun SA, Senior Unsecured Notes, 4.500% due 7/10/24 | 432,004 | |||||||
836,687 | Empresa Electrica Angamos SA, Senior Secured Notes, 4.875% due 5/25/29 | 836,686 | |||||||
1,703,600 | Empresa Electrica Cochrane SpA, Senior Secured Notes, 5.500% due 5/14/27 | 1,748,480 | |||||||
1,524,000 | Empresa Electrica Guacolda SA, Senior Unsecured Notes, 4.560% due 4/30/25 | 1,142,377 | |||||||
6,300,000 | Enel Generacion Chile SA, Senior Unsecured Notes, 4.250% due 4/15/24 | 6,741,894 | |||||||
2,200,000 | Falabella SA, Senior Unsecured Notes, 3.750% due 4/30/23 | 2,302,300 | |||||||
5,135,000 | Inversiones CMPC SA, Company Guaranteed Notes, 4.500% due 4/25/22 | 5,269,794 | |||||||
6,000,000 | Telefonica Chile SA, Senior Unsecured Notes, 3.875% due 10/12/22 | 6,214,800 | |||||||
Total Chile | 29,383,035 | ||||||||
Colombia - 1.0% | |||||||||
400,000 | Banco Bilbao Vizcaya Argentaria Colombia SA, Subordinated Notes, 4.875% due 4/21/25 | 418,004 | |||||||
1,250,000 | Bancolombia SA, Subordinated Notes, 4.625% (5-Year CMT Index + 2.944%) due 12/18/29(a) | 1,264,375 | |||||||
5,600,000 | Ecopetrol SA, Senior Unsecured Notes, 5.875% due 9/18/23 | 6,062,448 | |||||||
Total Colombia | 7,744,827 | ||||||||
Denmark - 0.1% | |||||||||
1,000,000 | EUR | Georg Jensen AS, Secured Notes, 6.000% (3-Month EURIBOR + 6.000%) due 5/15/23(a) | 1,212,844 | ||||||
Dominican Republic - 0.2% | |||||||||
1,100,000 | Banco de Reservas de la Republica Dominicana, Subordinated Notes, 7.000% due 2/1/23 | 1,152,261 | |||||||
324,000 | Empresa Generadora de Electricidad Itabo SA, Company Guaranteed Notes, 7.950% due 5/11/26 | 333,720 | |||||||
Total Dominican Republic | 1,485,981 | ||||||||
France - 0.3% | |||||||||
1,200,000 | BNP Paribas SA, Junior Subordinated Notes, 6.625% (5-Year USD Swap Rate + 4.149%) (a)(b)(d) | 1,317,000 | |||||||
575,000 | Credit Agricole SA, Junior Subordinated Notes, 8.125% (5-Year USD Swap Rate + 6.185%) (a)(b)(d) | 696,818 | |||||||
290,000 | Societe Generale SA, Junior Subordinated Notes, 7.875% (5-Year USD Swap Rate + 4.979%) (a)(b)(d) | 323,727 | |||||||
Total France | 2,337,545 | ||||||||
Germany - 0.9% | |||||||||
800,000 | Deutsche Bank AG, Junior Subordinated Notes, 6.000% (5-Year CMT Index + 4.524%) (a)(d) | 840,000 | |||||||
2,640,000 | EUR | LifeFit Group, Secured Notes, 7.500% (3-Month EURIBOR + 7.500%) due 7/26/23(a) | 3,090,701 | ||||||
2,441,000 | EUR | LR Global Holding GmbH, Senior Secured Notes, 7.250% (3-Month EURIBOR + 7.250%) due 2/3/25(a) | 3,064,796 | ||||||
Total Germany | 6,995,497 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Global Fixed Income Opportunities Fund (continued)
Face Amount/Units† | Security | Value | |||||||
CORPORATE BONDS & NOTES - (continued) | |||||||||
India - 1.3% | |||||||||
$ | 900,000 | Adani Ports & Special Economic Zone Ltd., Senior Unsecured Notes, 3.375% due 7/24/24 | $ | 943,995 | |||||
Indian Oil Corp., Ltd., Senior Unsecured Notes: | |||||||||
2,995,000 | 5.625% due 8/2/21 | 3,021,207 | |||||||
1,500,000 | 5.750% due 8/1/23 | 1,638,783 | |||||||
1,100,000 | ONGC Videsh Ltd., Company Guaranteed Notes, 3.750% due 5/7/23 | 1,149,434 | |||||||
3,150,000 | Reliance Industries Ltd., Senior Unsecured Notes, 5.400% due 2/14/22 | 3,249,782 | |||||||
Total India | 10,003,201 | ||||||||
Indonesia - 0.4% | |||||||||
1,900,000 | Pertamina Persero PT, Senior Unsecured Notes, 1.400% due 2/9/26 | 1,864,004 | |||||||
1,000,000 | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, Senior Unsecured Notes, 5.500% due 11/22/21 | 1,021,800 | |||||||
Total Indonesia | 2,885,804 | ||||||||
Ireland - 0.2% | |||||||||
1,400,000 | C&W Senior Financing DAC, Senior Unsecured Notes, 7.500% due 10/15/26 | 1,470,000 | |||||||
Israel - 0.1% | |||||||||
500,000 | Israel Electric Corp., Ltd., Senior Secured Notes, 6.875% due 6/21/23 | 558,845 | |||||||
Italy - 1.9% | |||||||||
365,000 | Intesa Sanpaolo SpA, Company Guaranteed Notes, 7.700% (5-Year USD Swap Rate + 5.462%) (a)(b)(d) | 416,100 | |||||||
11,340,000 | EUR | Linkem SpA, Senior Secured Notes, 7.000% (3-Month EURIBOR + 7.000%) due 8/9/22(a)(b) | 13,829,821 | ||||||
245,000 | UniCredit SpA, Junior Subordinated Notes, 8.000% (5-Year USD Swap Rate + 5.180%) (a)(d)@ | 271,613 | |||||||
Total Italy | 14,517,534 | ||||||||
Jersey, Channel Islands - 0.8% | |||||||||
6,100,000 | Galaxy Pipeline Assets Bidco Ltd., Senior Secured Notes, 1.750% due 9/30/27 | 6,153,464 | |||||||
Malaysia - 2.5% | |||||||||
1,250,000 | Axiata SPV2 Bhd, Senior Unsecured Notes, 4.357% due 3/24/26 | 1,405,450 | |||||||
200,000 | CIMB Bank Bhd, Senior Unsecured Notes, 3.263% due 3/15/22 | 203,720 | |||||||
1,715,000 | Malayan Banking Bhd, Subordinated Notes, 3.905% (5-Year USD Swap Rate + 2.542%) due 10/29/26(a) | 1,732,116 | |||||||
1,200,000 | Malaysia Sovereign Sukuk Bhd, Unsecured Notes, 3.043% due 4/22/25 | 1,290,556 | |||||||
Petronas Capital Ltd., Company Guaranteed Notes: | |||||||||
2,700,000 | 3.125% due 3/18/22 | 2,755,274 | |||||||
3,400,000 | 3.500% due 3/18/25 | 3,682,691 | |||||||
6,700,000 | TNB Global Ventures Capital Bhd, Senior Unsecured Notes, 3.244% due 10/19/26 | 7,134,250 | |||||||
1,000,000 | Wakala Global Sukuk Bhd, Senior Unsecured Notes, 4.646% due 7/6/21 | 1,003,640 | |||||||
Total Malaysia | 19,207,697 | ||||||||
Marshall Islands - 0.2% | |||||||||
1,837,000 | Borealis Finance LLC, Senior Secured Notes, 7.500% due 11/16/23(b) | 1,878,332 | |||||||
Mexico - 1.9% | |||||||||
3,800,000 | Banco Mercantil del Norte SA, Junior Subordinated Notes, 6.875% (5-Year CMT Index + 5.035%) (a)(d) | 3,933,000 | |||||||
6,300,000 | Banco Nacional de Comercio Exterior SNC, Subordinated Notes, 3.800% (5-Year CMT Index + 3.000%) due 8/11/26(a) | 6,284,313 | |||||||
BBVA Bancomer SA, Subordinated Notes: | |||||||||
457,000 | 6.750% due 9/30/22 | 486,705 | |||||||
1,943,000 | 5.350% (5-Year CMT Index + 3.000%) due 11/12/29(a) | 2,028,026 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Global Fixed Income Opportunities Fund (continued)
Face Amount/Units† | Security | Value | |||||||
CORPORATE BONDS & NOTES - (continued) | |||||||||
Mexico - 1.9%- (continued) | |||||||||
$ | 350,000 | Fomento Economico Mexicano SAB de CV, Senior Unsecured Notes, 2.875% due 5/10/23 | $ | 363,659 | |||||
400,000 | Grupo Bimbo SAB de CV, Company Guaranteed Notes, 4.500% due 1/25/22 | 409,306 | |||||||
950,000 | Unifin Financiera SAB de CV, Company Guaranteed Notes, 7.250% due 9/27/23 | 918,365 | |||||||
Total Mexico | 14,423,374 | ||||||||
Multinational - 1.0% | |||||||||
7,897,000 | Connect Finco SARL/Connect US Finco LLC, Senior Secured Notes, 6.750% due 10/1/26(b) | 8,163,524 | |||||||
Netherlands - 1.5% | |||||||||
1,410,000 | AerCap Holdings NV, Company Guaranteed Notes, 5.875% (5-Year CMT Index + 4.535%) due 10/10/79(a) | 1,459,350 | |||||||
600,000 | ING Groep NV, Junior Subordinated Notes, 5.750% (5-Year CMT Index + 4.342%) (a)(d) | 660,372 | |||||||
3,000,000 | Minejesa Capital BV, Senior Secured Notes, 4.625% due 8/10/30 | 3,121,500 | |||||||
6,150,000 | Petrobras Global Finance BV, Company Guaranteed Notes, 4.375% due 5/20/23 | 6,519,000 | |||||||
Total Netherlands | 11,760,222 | ||||||||
Norway - 1.2% | |||||||||
24,500,000 | NOK | Aker Horizons Holding ASA, Senior Unsecured Notes, 3.510% (3-Month NIBOR +3.250%) due 8/15/25(a) | 2,892,214 | ||||||
8,933,000 | NOK | Duo BidCo AS, 5.350% (3-Month NIBOR + 5.350%) due 4/12/26(a) | 1,078,698 | ||||||
13,500,000 | NOK | Grieg Seafood ASA, Senior Unsecured Notes, 3.790% (3-Month NIBOR + 3.400%) due 6/25/25(a)(b) | 1,602,684 | ||||||
Jacktel AS: | |||||||||
2,255,000 | Senior Secured Notes, 10.000% due 12/4/23(b)(c) | 451,000 | |||||||
664,931 | Senior Unsecured Notes, 10.000% due 12/4/23 | 664,931 | |||||||
4,900,000 | SEK | Mercell Holding AS, zero coupon, due 12/8/25 | 605,705 | ||||||
18,100,000 | NOK | Modex AS, Senior Secured Notes, 7.990% (3-Month NIBOR + 7.750%) due 3/2/26(a) | 2,192,761 | ||||||
Total Norway | 9,487,993 | ||||||||
Panama - 1.2% | |||||||||
2,500,000 | Banistmo SA, Senior Unsecured Notes, 3.650% due 9/19/22(b) | 2,550,000 | |||||||
1,158,278 | ENA Norte Trust, Pass Thru Certificates, 4.950% due 4/25/23 | 1,184,339 | |||||||
2,200,000 | Global Bank Corp., Senior Unsecured Notes, 4.500% due 10/20/21 | 2,212,100 | |||||||
3,400,000 | Multibank Inc., Senior Unsecured Notes, 4.375% due 11/9/22 | 3,475,650 | |||||||
Total Panama | 9,422,089 | ||||||||
Paraguay - 0.1% | |||||||||
950,000 | Banco Continental SAECA, Senior Unsecured Notes, 2.750% due 12/10/25(b) | 931,959 | |||||||
Peru - 1.8% | |||||||||
Banco de Credito del Peru, Subordinated Notes: | |||||||||
2,050,000 | 3.125% (5-Year CMT Index + 3.000%) due 7/1/30(a) | 2,024,395 | |||||||
2,800,000 | 3.250% (5-Year CMT Index + 2.450%) due 9/30/31(a)(b) | 2,746,800 | |||||||
2,700,000 | Banco Internacional del Peru SAA Interbank, Subordinated Notes, 4.000% (1-Year CMT Index + 3.711%) due 7/8/30(a) | 2,646,000 | |||||||
3,490,147 | Fenix Power Peru SA, Senior Unsecured Notes, 4.317% due 9/20/27 | 3,533,774 | |||||||
150,000 | Scotiabank Peru SAA, Subordinated Notes, 4.500% (3-Month USD-LIBOR + 3.856%) due 12/13/27(a) | 150,002 | |||||||
2,750,000 | Transportadora de Gas del Peru SA, Senior Unsecured Notes, 4.250% due 4/30/28 | 2,948,000 | |||||||
Total Peru | 14,048,971 | ||||||||
Philippines - 0.4% | |||||||||
3,000,000 | BDO Unibank Inc., Senior Unsecured Notes, 2.950% due 3/6/23 | 3,105,300 | |||||||
Portugal - 0.0% | |||||||||
70,068 | Invepar, zero coupon, due 12/30/28(e)(f) | 2,996 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Global Fixed Income Opportunities Fund (continued)
Face Amount/Units† | Security | Value | |||||||
CORPORATE BONDS & NOTES - (continued) | |||||||||
Saudi Arabia - 0.3% | |||||||||
Saudi Arabian Oil Co., Senior Unsecured Notes: | |||||||||
$ | 2,100,000 | 2.750% due 4/16/22 | $ | 2,143,718 | |||||
300,000 | 1.250% due 11/24/23(b) | 303,775 | |||||||
Total Saudi Arabia | 2,447,493 | ||||||||
Singapore - 5.2% | |||||||||
DBS Group Holdings Ltd.: | |||||||||
6,100,000 | Junior Subordinated Notes, 3.600% (5-Year USD Swap Rate + 2.390%) (a)(d) | 6,122,875 | |||||||
500,000 | Senior Unsecured Notes, 2.850% due 4/16/22 | 510,760 | |||||||
Subordinated Notes: | |||||||||
500,000 | 4.520% (5-Year USD 1100 Run ICE Swap Rate + 1.590%) due 12/11/28(a) | 540,535 | |||||||
700,000 | 1.822% (5-Year CMT Index + 1.100%) due 3/10/31(a) | 699,132 | |||||||
5,190,000 | ONGC Videsh Vankorneft Pte Ltd., Company Guaranteed Notes, 2.875% due 1/27/22 | 5,256,795 | |||||||
2,500,000 | Oversea-Chinese Banking Corp., Ltd., Subordinated Notes, Private Placement, 1.832% (5-Year CMT Index + 1.580%) due 9/10/30(a)(b) | 2,504,000 | |||||||
Oversea-Chinese Banking Corp., Ltd., Subordinated Notes: | |||||||||
4,400,000 | 1.832% (5-Year CMT Index + 1.580%) due 9/10/30(a) | 4,407,040 | |||||||
200,000 | 4.250% due 6/19/24 | 218,586 | |||||||
950,000 | PSA Treasury Pte Ltd., Company Guaranteed Notes, 2.500% due 4/12/26 | 994,699 | |||||||
SingTel Group Treasury Pte Ltd., Company Guaranteed Notes: | |||||||||
1,200,000 | 3.250% due 6/30/25 | 1,289,552 | |||||||
2,300,000 | 2.375% due 10/3/26 | 2,423,068 | |||||||
3,000,000 | SP PowerAssets Ltd., Senior Unsecured Notes, 2.700% due 9/14/22 | 3,082,590 | |||||||
4,000,000 | Temasek Financial I Ltd., Company Guaranteed Notes, 2.375% due 1/23/23 | 4,130,440 | |||||||
United Overseas Bank Ltd., Subordinated Notes: | |||||||||
4,700,000 | 3.500% (5-Year USD Swap Rate + 2.236%) due 9/16/26(a) | 4,725,004 | |||||||
1,900,000 | 3.750% (5-Year CMT Index + 1.500%) due 4/15/29(a) | 2,028,421 | |||||||
1,100,000 | 1.750% (5-Year CMT Index + 1.520%) due 3/16/31(a) | 1,093,983 | |||||||
Total Singapore | 40,027,480 | ||||||||
South Korea - 4.0% | |||||||||
4,900,000 | Korea East-West Power Co., Ltd., Senior Unsecured Notes, 1.750% due 5/6/25(b) | 5,001,736 | |||||||
4,800,000 | Korea Southern Power Co., Ltd., Senior Unsecured Notes, 0.750% due 1/27/26(b) | 4,686,031 | |||||||
7,300,000 | KT Corp., Senior Unsecured Notes, 1.000% due 9/1/25 | 7,247,088 | |||||||
3,900,000 | LG Chem Ltd., Senior Unsecured Notes, 3.250% due 10/15/24 | 4,206,086 | |||||||
2,000,000 | NongHyup Bank, Senior Unsecured Notes, Private Placement, 1.250% due 7/20/25(b) | 2,004,586 | |||||||
2,000,000 | NongHyup Bank, Senior Unsecured Notes, 1.250% due 7/20/25 | 2,004,586 | |||||||
POSCO, Senior Unsecured Notes: | |||||||||
2,000,000 | 2.375% due 11/12/22 | 2,044,260 | |||||||
3,044,000 | 2.375% due 1/17/23 | 3,118,030 | |||||||
700,000 | 2.750% due 7/15/24 | 737,752 | |||||||
Total South Korea | 31,050,155 | ||||||||
Sweden - 0.1% | |||||||||
3,750,000 | SEK | VNV Global AB, Senior Secured Notes, 5.750% due 10/4/22 | 466,289 | ||||||
Switzerland - 0.4% | |||||||||
1,365,000 | Credit Suisse Group AG, Junior Subordinated Notes, 6.375% (5-Year CMT Index + 4.822%) (a)(b)(d) | 1,491,262 | |||||||
1,400,000 | UBS Group AG, Junior Subordinated Notes, 6.875% (5-Year USD Swap Rate + 4.590%) (a)(d)@ | 1,589,003 | |||||||
Total Switzerland | 3,080,265 | ||||||||
Thailand - 0.2% | |||||||||
1,800,000 | Bangkok Bank PCL, Senior Unsecured Notes, 3.875% due 9/27/22 | 1,876,374 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Global Fixed Income Opportunities Fund (continued)
Face Amount/Units† | Security | Value | |||||||
CORPORATE BONDS & NOTES - (continued) | |||||||||
United Kingdom - 1.2% | |||||||||
$ | 1,525,000 | Barclays PLC, Junior Subordinated Notes, 7.750% (5-Year USD Swap Rate + 4.842%) (a)(d) | $ | 1,673,687 | |||||
430,000 | HSBC Holdings PLC, Junior Subordinated Notes, 6.000% (5-Year USD 1100 Run ICE Swap Rate + 3.746%) (a)(d) | 474,075 | |||||||
1,480,000 | Lloyds Banking Group PLC, Junior Subordinated Notes, 7.500% (5-Year USD Swap Rate + 4.496%) (a)(d) | 1,714,018 | |||||||
800,000 | Natwest Group PLC, Junior Subordinated Notes, 6.000% (5-Year CMT Index + 5.625%) (a)(d) | 887,624 | |||||||
2,400,000 | EUR | SB Holdco PLC, Secured Notes, 8.000% (3-Month EURIBOR + 8.000%) due 7/13/22(a) | 2,963,385 | ||||||
440,000 | Standard Chartered PLC, Junior Subordinated Notes, 6.000% (5-Year CMT Index + 5.661%) (a)(b)(d) | 480,524 | |||||||
Vedanta Resources Ltd., Senior Unsecured Notes: | |||||||||
800,000 | 7.125% due 5/31/23 | 751,600 | |||||||
200,000 | 6.125% due 8/9/24 | 170,600 | |||||||
210,000 | Vodafone Group PLC, Junior Subordinated Notes, 7.000% (5-Year USD Swap Rate + 4.873%) due 4/4/79(a) | 252,688 | |||||||
Total United Kingdom | 9,368,201 | ||||||||
United States - 22.2% | |||||||||
8,762,000 | 99 Escrow Issuer Inc., Senior Secured Notes, 7.500% due 1/15/26(b) | 8,280,090 | |||||||
845,000 | Ally Financial Inc., Junior Subordinated Notes, 4.700% (5-Year CMT Index + 3.868%) (a)(d) | 864,487 | |||||||
395,000 | American International Group Inc., Junior Subordinated Notes, 5.750% (3-Month USD-LIBOR + 2.868%) due 4/1/48(a) | 447,436 | |||||||
3,088,439 | Anagram International Inc./Anagram Holdings LLC, Senior Secured Notes, 15.000% due 8/15/25(b)(c) | 3,489,936 | |||||||
1,100,000 | Assurant Inc., Subordinated Notes, 7.000% (3-Month USD-LIBOR + 4.135%) due 3/27/48(a) | 1,264,309 | |||||||
969,000 | Assured Guaranty Municipal Holdings Inc., Company Guaranteed Notes, 6.400% (1-Month USD-LIBOR + 2.215%) due 12/15/66(a)(b) | 1,025,258 | |||||||
2,541,000 | At Home Holding III Inc., Senior Secured Notes, 8.750% due 9/1/25(b) | 2,833,215 | |||||||
1,350,000 | Bank of America Corp., Junior Subordinated Notes, 6.300% (3-Month USD-LIBOR + 4.553%) (a)(d) | 1,566,405 | |||||||
9,959,000 | Brazos Electric Power Cooperative Inc., zero coupon, due 3/23/49(e)(f) | 8,963,100 | |||||||
133,000 | Briggs & Stratton Corp., Senior Unsecured Notes, zero coupon, due 12/15/20(e) | 11,129 | |||||||
630,000 | Capital Farm Credit ACA, Junior Subordinated Notes, 5.000% (5-Year CMT Index + 4.523%) (a)(b)(d) | 642,343 | |||||||
655,000 | Capital One Financial Corp., Junior Subordinated Notes, 3.935% (3-Month USD-LIBOR + 3.800%) (a)(d) | 655,000 | |||||||
600,000 | CenterPoint Energy Inc., Junior Subordinated Notes, 6.125% (3-Month USD-LIBOR + 3.270%) (a)(d) | 640,500 | |||||||
435,000 | Charles Schwab Corp., Junior Subordinated Notes, 5.375% (5-Year CMT Index + 4.971%) (a)(d) | 481,763 | |||||||
3,201,000 | Chobani LLC/Chobani Finance Corp. Inc., Company Guaranteed Notes, 7.500% due 4/15/25(b) | 3,330,705 | |||||||
260,000 | CIT Group Inc., Junior Subordinated Notes, 5.800% (3-Month USD-LIBOR + 3.972%) (a)(d) | 268,453 | |||||||
2,039,000 | Citigroup Inc., Junior Subordinated Notes, 5.950% (3-Month USD-LIBOR + 3.905%) (a)(d) | 2,238,822 | |||||||
225,000 | Citizens Financial Group Inc., Junior Subordinated Notes, 6.375% (3-Month USD-LIBOR + 3.157%) (a)(d) | 240,750 | |||||||
1,075,000 | CoBank ACB, Junior Subordinated Notes, 6.250% (3-Month USD-LIBOR + 4.660%) (a)(d) | 1,204,000 | |||||||
650,000 | Compeer Financial ACA, Junior Subordinated Notes, 4.875% (5-Year CMT Index + 4.095%) (a)(b)(d)(e) | 654,875 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Global Fixed Income Opportunities Fund (continued)
Face Amount/Units† | Security | Value | |||||||
CORPORATE BONDS & NOTES - (continued) | |||||||||
United States - 22.2% - (continued) | |||||||||
$ | 1,982,000 | Crocs Inc., Company Guaranteed Notes, 4.250% due 3/15/29(b) | $ | 2,003,703 | |||||
428,000 | CTO Realty Growth Inc., Senior Unsecured Notes, Private Placement, 3.875% due 4/15/25(b) | 438,957 | |||||||
2,393,000 | CTO Realty Growth Inc., Senior Unsecured Notes, 3.875% due 4/15/25 | 2,454,261 | |||||||
510,000 | Dairy Farmers of America Inc., Junior Subordinated Notes, 7.125% (b)(d) | 510,000 | |||||||
5,255,000 | Dell International LLC/EMC Corp., Company Guaranteed Notes, 7.125% due 6/15/24(b) | 5,360,100 | |||||||
2,127,000 | Diamond Sports Group LLC/Diamond Sports Finance Co., Senior Secured Notes, 12.750% due 12/1/26(b) | 1,807,950 | |||||||
4,268,000 | Diebold Nixdorf Inc., Company Guaranteed Notes, 8.500% due 4/15/24 | 4,368,554 | |||||||
390,000 | Discover Financial Services, Junior Subordinated Notes, 6.125% (5-Year CMT Index + 5.783%) (a)(d) | 438,633 | |||||||
1,899,000 | DISH Network Corp., Senior Unsecured Notes, 3.375% due 8/15/26 | 1,959,768 | |||||||
1,321,000 | Donnelley Financial Solutions Inc., Company Guaranteed Notes, 8.250% due 10/15/24 | 1,373,840 | |||||||
425,000 | Edison International, Junior Subordinated Notes, 5.375% (5-Year CMT Index + 4.698%) (a)(d) | 429,250 | |||||||
615,000 | Equitable Holdings Inc., Junior Subordinated Notes, 4.950% (5-Year CMT Index + 4.736%) (a)(d) | 661,125 | |||||||
610,000 | Fifth Third Bancorp, Junior Subordinated Notes, 4.500% (5-Year CMT Index + 4.215%) (a)(d) | 664,137 | |||||||
2,083,000 | Fresh Market Inc., Senior Secured Notes, 9.750% due 5/1/23(b) | 2,140,824 | |||||||
3,164,000 | FXI Holdings Inc., Senior Secured Notes, 12.250% due 11/15/26(b) | 3,658,375 | |||||||
845,000 | General Electric Co., Junior Subordinated Notes, 3.514% (3-Month USD-LIBOR + 3.330%) (a)(d) | 812,721 | |||||||
General Motors Financial Co., Inc., Junior Subordinated Notes: | |||||||||
280,000 | 5.700% (5-Year CMT Index + 4.997%) (a)(d) | 313,950 | |||||||
960,000 | 5.750% (3-Month USD-LIBOR + 3.598%) (a)(d) | 1,044,000 | |||||||
412,000 | Getty Images Inc., Senior Unsecured Notes, 9.750% due 3/1/27(b) | 439,810 | |||||||
1,444,000 | Goldman Sachs Group Inc., Junior Subordinated Notes, 5.500% (5-Year CMT Index + 3.623%) (a)(d) | 1,563,130 | |||||||
8,163,808 | Hawaiian Airlines Class A Pass-Through Certificates, Pass Thru Certificates, 3.900% due 1/15/26 | 7,915,614 | |||||||
864,380 | Hawaiian Airlines Class B Pass-Through Certificates, Pass Thru Certificates, 4.950% due 1/15/22 | 862,946 | |||||||
9,528,000 | HC2 Holdings Inc., Senior Secured Notes, 8.500% due 2/1/26(b) | 9,408,900 | |||||||
1,062,000 | Hercules Achievement, Inc./Varsity Brands Holding Co., Inc., Senior Secured Notes, 9.000% (3-Month USD-LIBOR + 8.000%) due 12/22/24(a)(b) | 1,072,620 | |||||||
5,329,000 | Hertz Corp., Secured Notes, 7.625% due 6/1/22(b)(e)(g) | 5,828,594 | |||||||
9,910,000 | Hunt Cos., Inc., Senior Secured Notes, 5.250% due 4/15/29(b) | 9,535,204 | |||||||
1,120,000 | Huntington Bancshares Inc., Junior Subordinated Notes, 5.625% (5-Year CMT Index + 4.945%) (a)(d) | 1,300,320 | |||||||
5,251,000 | Icahn Enterprises LP/Icahn Enterprises Finance Corp., Company Guaranteed Notes, 5.250% due 5/15/27(b) | 5,375,711 | |||||||
JPMorgan Chase & Co., Junior Subordinated Notes: | |||||||||
435,000 | 3.650% (5-Year CMT Index + 2.850%) (a)(d) | 437,040 | |||||||
1,015,000 | 5.000% (SOFR rate + 3.380%) (a)(d) | 1,067,202 | |||||||
585,000 | 6.750% (3-Month USD-LIBOR + 3.780%) (a)(d) | 643,061 | |||||||
475,000 | KeyCorp, Junior Subordinated Notes, 5.000% (3-Month USD-LIBOR + 3.606%) (a)(d) | 530,323 | |||||||
1,655,000 | Land O' Lakes Inc., Junior Subordinated Notes, 7.250% (b)(d) | 1,733,612 | |||||||
500,000 | M&T Bank Corp., Junior Subordinated Notes, 5.125% (3-Month USD-LIBOR + 3.520%) (a)(d) | 548,750 | |||||||
855,000 | Markel Corp., Junior Subordinated Notes, 6.000% (5-Year CMT Index + 5.662%) (a)(d) | 951,803 | |||||||
Martin Midstream Partners LP/Martin Midstream Finance Corp., Secured Notes: | |||||||||
7,118,576 | 10.000% due 2/29/24(b) | 7,367,726 | |||||||
3,594,055 | 11.500% due 2/28/25(b) | 3,737,817 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Global Fixed Income Opportunities Fund (continued)
Face Amount/Units† | Security | Value | ||||||
CORPORATE BONDS & NOTES - (continued) | ||||||||
United States - 22.2% - (continued) | ||||||||
$ | 825,000 | MetLife Inc., Junior Subordinated Notes, 5.875% (3-Month USD-LIBOR + 2.959%) (a)(d) | $ | 936,375 | ||||
385,000 | NiSource Inc., Junior Subordinated Notes, 5.650% (5-Year CMT Index + 2.843%) (a)(d) | 403,287 | ||||||
195,000 | PartnerRe Finance B LLC, Company Guaranteed Notes, 4.500% (5-Year CMT Index + 3.815%) due 10/1/50(a) | 199,877 | ||||||
5,420,000 | PBF Logistics LP/PBF Logistics Finance Corp., Company Guaranteed Notes, 6.875% due 5/15/23 | 5,399,675 | ||||||
717,000 | PNC Financial Services Group Inc., Junior Subordinated Notes, 5.000% (3-Month USD-LIBOR + 3.300%) (a)(d) | 800,351 | ||||||
480,000 | Provident Financing Trust I, Limited Guaranteed Notes, 7.405% due 3/15/38 | 572,005 | ||||||
1,150,000 | Regions Financial Corp., Junior Subordinated Notes, 5.750% (5-Year CMT Index + 5.430%) (a)(d) | 1,276,500 | ||||||
845,000 | SBL Holdings Inc., Junior Subordinated Notes, 7.000% (5-Year CMT Index + 5.580%) (a)(b)(d) | 852,394 | ||||||
410,000 | Sempra Energy, Junior Subordinated Notes, 4.875% (5-Year CMT Index + 4.550%) (a)(d) | 444,850 | ||||||
633,000 | Sirius XM Radio Inc., Company Guaranteed Notes, 5.375% due 7/15/26(b) | 652,864 | ||||||
595,000 | Southern Co., Junior Subordinated Notes, 4.000% (5-Year CMT Index + 3.733%) due 1/15/51(a) | 629,522 | ||||||
5,691,000 | StoneX Group Inc., Senior Secured Notes, 8.625% due 6/15/25(b) | 6,089,370 | ||||||
1,156,000 | StorCentric Inc., Senior Secured Notes, 5.875% due 2/19/23(b)(e) | 1,153,110 | ||||||
3,057,000 | Surgery Center Holdings Inc., Company Guaranteed Notes, 6.750% due 7/1/25(b) | 3,106,676 | ||||||
SVB Financial Group, Junior Subordinated Notes: | ||||||||
180,000 | 4.000% (5-Year CMT Index + 3.202%) (a)(d) | 182,790 | ||||||
415,000 | 4.100% (5-Year CMT Index + 3.064%) (a)(d) | 414,481 | ||||||
2,958,000 | Tenneco Inc., Senior Secured Notes, 5.125% due 4/15/29(b) | 2,958,000 | ||||||
1,810,000 | Truist Financial Corp., Junior Subordinated Notes, 4.800% (5-Year CMT Index + 3.003%) (a)(d) | 1,925,388 | ||||||
3,164,000 | Uber Technologies Inc., Senior Unsecured Notes, zero coupon, due 12/15/25(b) | 3,219,370 | ||||||
8,201,000 | UpHealth Inc., Senior Unsecured Notes, 6.250% due 3/15/26(e)(f) | 8,201,000 | ||||||
770,000 | Voya Financial Inc., Junior Subordinated Notes, 6.125% (5-Year CMT Index + 3.358%) (a)(d) | 831,600 | ||||||
Wells Fargo & Co., Junior Subordinated Notes: | ||||||||
950,000 | 3.900% (5-Year CMT Index + 3.453%) (a)(d) | 973,798 | ||||||
1,505,000 | 5.900% (3-Month USD-LIBOR + 3.110%) (a)(d) | 1,616,370 | ||||||
Total United States | 172,702,560 | |||||||
TOTAL CORPORATE BONDS & NOTES | ||||||||
(Cost - $ 495,085,556) | 506,197,815 | |||||||
SOVEREIGN BONDS - 8.5% | ||||||||
Brazil - 0.9% | ||||||||
6,850,000 | Brazilian Government International Bond, 2.875% due 6/6/25 | 7,054,062 | ||||||
Colombia - 0.3% | ||||||||
2,100,000 | Colombia Government International Bond, 2.625% due 3/15/23 | 2,146,620 | ||||||
India - 0.3% | ||||||||
2,000,000 | Export-Import Bank of India, 3.125% due 7/20/21 | 2,005,801 | ||||||
Indonesia - 1.5% | ||||||||
Indonesia Government International Bond: | ||||||||
1,500,000 | 3.750% due 4/25/22 | 1,543,350 | ||||||
2,200,000 | 2.950% due 1/11/23 | 2,283,644 | ||||||
300,000 | 3.375% due 4/15/23 | 315,534 | ||||||
Perusahaan Penerbit SBSN Indonesia III: | ||||||||
1,000,000 | 3.400% due 3/29/22 | 1,024,430 | ||||||
3,018,000 | 3.300% due 11/21/22 | 3,139,052 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Global Fixed Income Opportunities Fund (continued)
Face Amount/Units† | Security | Value | ||||||
SOVEREIGN BONDS - (continued) | ||||||||
Indonesia - 1.5% - (continued) | ||||||||
$ | 1,321,000 | 3.750% due 3/1/23 | $ | 1,391,938 | ||||
1,750,000 | 2.300% due 6/23/25 | 1,813,962 | ||||||
Total Indonesia | 11,511,910 | |||||||
Panama - 0.9% | ||||||||
Panama Government International Bond: | ||||||||
4,300,000 | 4.000% due 9/22/24 | 4,670,918 | ||||||
2,000,000 | 3.750% due 3/16/25 | 2,175,020 | ||||||
Total Panama | 6,845,938 | |||||||
Peru - 1.0% | ||||||||
1,015,000 | Corp. Financiera de Desarrollo SA, Subordinated Notes, 5.250% (3-Month USD-LIBOR + 5.605%) due 7/15/29(a) | 1,033,280 | ||||||
6,900,000 | Peruvian Government International Bond, 2.392% due 1/23/26 | 7,106,241 | ||||||
Total Peru | 8,139,521 | |||||||
Qatar - 0.4% | ||||||||
Qatar Government International Bond: | ||||||||
2,300,000 | 2.375% due 6/2/21 | 2,300,230 | ||||||
900,000 | 4.500% due 1/20/22 | 924,300 | ||||||
Total Qatar | 3,224,530 | |||||||
Saudi Arabia - 0.8% | ||||||||
Saudi Government International Bond: | ||||||||
3,500,000 | 2.375% due 10/26/21 | 3,527,300 | ||||||
3,000,000 | 2.875% due 3/4/23 | 3,117,000 | ||||||
Total Saudi Arabia | 6,644,300 | |||||||
South Korea - 1.9% | ||||||||
Korea Development Bank: | ||||||||
300,000 | 1.250% due 6/3/25 | 303,232 | ||||||
2,200,000 | 0.800% due 4/27/26 | 2,171,806 | ||||||
200,000 | 1.000% due 9/9/26 | 199,101 | ||||||
7,200,000 | Korea Electric Power Corp., 1.125% due 6/15/25(b) | 7,185,218 | ||||||
5,100,000 | Korea Hydro & Nuclear Power Co., Ltd., 1.250% due 4/27/26(b) | 5,083,017 | ||||||
Total South Korea | 14,942,374 | |||||||
United Arab Emirates - 0.5% | ||||||||
Abu Dhabi Government International Bond: | ||||||||
2,000,000 | 0.750% due 9/2/23(b) | 2,017,180 | ||||||
1,600,000 | 2.500% due 4/16/25(b) | 1,696,000 | ||||||
Total United Arab Emirates | 3,713,180 | |||||||
TOTAL SOVEREIGN BONDS | ||||||||
(Cost - $65,879,464) | 66,228,236 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Global Fixed Income Opportunities Fund (continued)
Face Amount/Units† | Security | Value | ||||||
SENIOR LOANS - 8.4%(a) | ||||||||
$ | 423,773 | ABB/Con-Cise Optical Group LLC, 6.000% (3-Month USD-LIBOR + 5.000%) due 6/15/23 | $ | 406,822 | ||||
Alliance HealthCare Services Inc.: | ||||||||
2,871,476 | 5.500% (1-Month USD-LIBOR + 4.500%) due 10/24/23 | 2,727,902 | ||||||
1,398,101 | due 4/24/24(h) | 716,526 | ||||||
343,423 | Appvion Operations Inc., 7.000% (3-Month USD-LIBOR + 6.000%) due 6/12/26 | 341,706 | ||||||
2,003,059 | Elevate Textiles Inc., 5.259% (3-Month USD-LIBOR + 5.000%) due 5/1/24 | 1,912,922 | ||||||
6,606,639 | First Brands Group LLC, 9.500% (3-Month USD-LIBOR + 8.500%) due 3/30/28 | 6,639,672 | ||||||
798,000 | Gemmacert Ltd., due 5/19/24(e)(f)(h) | 798,000 | ||||||
4,828,763 | Golden Nugget Online Gaming Inc., 13.000% (3-Month USD-LIBOR + 12.000%) due 10/4/23 | 5,359,927 | ||||||
5,085,582 | Hertz Corp., due 12/31/21(h) | 5,093,210 | ||||||
2,777,853 | IEA Energy Services LLC, 7.004% (3-Month USD-LIBOR + 6.750%) due 9/25/24 | 2,770,908 | ||||||
14,779,000 | JZ Capital Partners Ltd., 16.000% (1-Month USD-LIBOR + 11.000% cash + 4.000% PIK) due 6/12/22(e) | 14,779,000 | ||||||
4,492,842 | Lealand Finance Co., BV, 4.115% (1-Month USD-LIBOR + 4.000%) due 6/30/25 | 1,963,372 | ||||||
13,867,000 | Mallinckrodt International Finance SA, due 2/28/22(h) | 13,620,029 | ||||||
4,985,386 | Pixelle Specialty Solutions LLC, 7.500% (1-Month USD-LIBOR + 6.500%) due 10/31/24 | 4,965,644 | ||||||
2,254,913 | RA Acquisition Purchaser LLC, 11.000% (3-Month USD-LIBOR + 10.000%) due 5/31/23(f) | 2,254,913 | ||||||
TOTAL SENIOR LOANS | ||||||||
(Cost - $65,600,752) | 64,350,553 |
Shares/Units | ||||||||
COMMON STOCKS - 8.4% | ||||||||
Canada - 0.3% | ||||||||
44,400 | Barrick Gold Corp. | 1,069,152 | ||||||
158,308 | BGP Acquisition Corp., Class A Shares*(e)(f) | 1,496,010 | ||||||
21,182 | Frontera Energy Corp.*(i) | 110,913 | ||||||
Total Canada | 2,676,075 | |||||||
Israel - 0.8% | ||||||||
776,233 | Intercure Ltd.*(f) | 6,062,380 | ||||||
United States - 7.3% | ||||||||
43,843 | Alpine Income Property Trust Inc. | 799,258 | ||||||
45,350 | Anzu Special Acquisition Corp. I* | 448,965 | ||||||
267,281 | Appvion Inc.*(e) | 3,453,271 | ||||||
29,961 | Ares Acquisition Corp.*(i) | 300,209 | ||||||
29,898 | Athena Technology Acquisition Corp.* | 296,887 | ||||||
241,887 | Atlantic Avenue Acquisition Corp., Class A Shares* | 2,346,304 | ||||||
264,887 | Carney Technology Acquisition Corp. II, Class A Shares* | 2,572,053 | ||||||
91,599 | Cartesian Growth Corp.* | 909,578 | ||||||
99,874 | Cascade Acquisition Corp., Class A Shares* | 982,760 | ||||||
59,653 | CBRE Acquisition Holdings Inc., Class A Shares* | 581,617 | ||||||
220,946 | Cerberus Telecom Acquisition Corp., Class A Shares*(f)(i) | 1,581,312 | ||||||
54,430 | CF Acquisition Corp. IV, Class A Shares*(i) | 527,427 | ||||||
48,740 | CF Acquisition Corp. VI* | 485,450 | ||||||
49,965 | Clarim Acquisition Corp.* | 494,154 | ||||||
30,718 | Cohn Robbins Holdings Corp., Class A Shares* | 301,651 | ||||||
17,653 | CTO Realty Growth Inc. | 932,431 | ||||||
7,769 | DHB Capital Corp.* | 77,379 | ||||||
74,156 | Disruptive Acquisition Corp. I*(i) | 740,818 | ||||||
60,059 | EJF Acquisition Corp.* | 596,986 | ||||||
24,408 | Empowerment & Inclusion Capital I Corp.* | 241,395 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Global Fixed Income Opportunities Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
United States - 7.3% - (continued) | ||||||||
352 | Energy Harbor Corp.*(f) | $ | 11,207 | |||||
69,779 | Equity Distribution Acquisition Corp., Class A Shares* | 683,834 | ||||||
56,078 | Forum Merger IV Corp.* | 556,855 | ||||||
238,000 | Genesis Park Acquisition Corp., Class A Shares*(f) | – | ||||||
59,455 | GigCapital4 Inc.* | 594,550 | ||||||
126,678 | GigInternational1 Inc.* | 1,266,780 | ||||||
33,614 | Global Partner Acquisition Corp. II* | 333,115 | ||||||
86,133 | Golden Falcon Acquisition Corp., Class A Shares* | 831,183 | ||||||
67,735 | Gores Guggenheim Inc.* | 672,609 | ||||||
50,095 | Hamilton Lane Alliance Holdings I Inc., Class A Shares* | 487,424 | ||||||
60,053 | Isleworth Healthcare Acquisition Corp.* | 584,316 | ||||||
62,712 | KINS Technology Group Inc., Class A Shares* | 620,849 | ||||||
414,933 | Live Oak Acquisition Corp. II, Class A Shares*(e)(f) | – | ||||||
18,600 | Magellan Midstream Partners LP | 916,794 | ||||||
25,499 | Marlin Technology Corp., Class A Shares* | 253,205 | ||||||
534,907 | Mason Industrial Technology Inc., Class A Shares* | 5,167,202 | ||||||
251,150 | McDermott International Ltd.* | 123,064 | ||||||
555,414 | McDermott International Ltd.*(e)(f) | 272,153 | ||||||
17,046 | Noble Rock Acquisition Corp.* | 169,437 | ||||||
68,164 | Oaktree Acquisition Corp. II, Class A Shares* | 665,962 | ||||||
466,079 | Omnichannel Acquisition Corp., Class A Shares* | 4,562,913 | ||||||
50,040 | One Equity Partners Open Water I Corp., Class A Shares* | 482,386 | ||||||
45,730 | Peridot Acquisition Corp. II* | 456,385 | ||||||
4,986 | Pontem Corp.* | 49,760 | ||||||
14,913 | PWP Forward Acquisition Corp. I* | 147,639 | ||||||
52 | Real Alloy Holding Inc.*(e)(f) | 1,604,914 | ||||||
621,485 | Rescap Liquidating Trust*(e) | 503,403 | ||||||
508,250 | RMG Acquisition Corp. II, Class A Shares* | – | ||||||
47,352 | RMG Acquisition Corp. III, Class A Shares* | 463,103 | ||||||
13,273 | RXR Acquisition Corp.* | 132,730 | ||||||
44,738 | Seven Oaks Acquisition Corp., Class A Shares* | 437,090 | ||||||
55,530 | Starboard Value Acquisition Corp., Class A Shares*(i) | 550,302 | ||||||
147,235 | Stratim Cloud Acquisition Corp.* | 1,464,988 | ||||||
146,756 | Superior Energy Services Inc.*(e)(f) | 4,989,704 | ||||||
5,598 | Supernova Partners Acquisition Co. III Ltd.* | 55,980 | ||||||
76,153 | Tailwind International Acquisition Corp., Class A Shares* | 738,684 | ||||||
73,971 | Tailwind Two Acquisition Corp., Class A Shares*(e) | 720,478 | ||||||
29,889 | Tech & Energy Transition Corp.* | 298,890 | ||||||
138,239 | Tekkorp Digital Acquisition Corp., Class A Shares* | 1,350,595 | ||||||
15,084 | Thimble Point Acquisition Corp., Class A Shares* | 146,616 | ||||||
81,494 | Tishman Speyer Innovation Corp. II* | 814,940 | ||||||
126,645 | TS Innovation Acquisitions Corp.*(f) | – | ||||||
372,905 | Vector Acquisition Corp. II, Class A Shares* | 3,676,843 | ||||||
246,967 | Vector Acquisition Corp., Class A Shares*(f) | – | ||||||
27,534 | Z-Work Acquisition Corp.* | 273,688 | ||||||
Total United States | 56,802,475 | |||||||
TOTAL COMMON STOCKS | ||||||||
(Cost - $67,051,074) | 65,540,930 | |||||||
PREFERRED STOCKS - 2.9% | ||||||||
Bermuda - 0.3% | ||||||||
30,926 | Aspen Insurance Holdings Ltd., 5.625%(d) | 810,261 | ||||||
24,704 | Athene Holding Ltd., 6.375% (5-Year CMT Index + 5.970%)(a)(d) | 706,535 | ||||||
19,388 | Enstar Group Ltd., 7.000% (3-Month USD-LIBOR + 4.015%)(a)(d) | 555,660 | ||||||
Total Bermuda | 2,072,456 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Global Fixed Income Opportunities Fund (continued)
Shares/Units | Security | Value | ||||||
PREFERRED STOCKS - (continued) | ||||||||
United States - 2.6% | ||||||||
13,299 | Air Lease Corp., 6.150% (3-Month USD-LIBOR + 3.650%)(a)(d) | $ | 355,349 | |||||
31,620 | American Equity Investment Life Holding Co., 6.625% (5-Year CMT Index + 6.297%)(a)(d) | 896,743 | ||||||
3,290 | CoBank ACB, 6.250% (3-Month USD-LIBOR + 4.557%)(a)(d) | 342,160 | ||||||
1,000 | Dairy Farmers of America Inc., 7.875%(b)(d)(e) | 101,500 | ||||||
49,000 | Delphi Financial Group Inc., 3.346% (3-Month USD-LIBOR + 3.190%)(a)(d) | 1,090,250 | ||||||
11,970 | Farm Credit Bank of Texas, 6.750% (3-Month USD-LIBOR + 4.010%)(a)(b)(d) | 1,280,790 | ||||||
Federal Home Loan Mortgage Corp.: | ||||||||
221,075 | 5.100%*(d) | 2,201,907 | ||||||
13,873 | 6.420%*(d) | 142,337 | ||||||
282,641 | Federal National Mortgage Association, 8.250%*(a)(d) | 1,800,423 | ||||||
144,897 | Gladstone Land Corp., 5.000%(d) | 3,715,159 | ||||||
6,444 | GMAC Capital Trust I, 5.941% (3-Month USD-LIBOR + 5.785%)(a)(d) | 163,033 | ||||||
76,176 | Monmouth Real Estate Investment Corp., 6.125%(d) | 1,918,112 | ||||||
59,120 | Morgan Stanley, 5.850% (3-Month USD-LIBOR + 3.491%)(a)(d) | 1,716,845 | ||||||
15,933 | New York Community Bancorp Inc., 6.375% (3-Month USD-LIBOR + 3.821%)(a)(d) | 452,497 | ||||||
165,902 | NGL Energy Partners LP, 9.000% (3-Month USD-LIBOR + 7.213%)(a)(d) | 2,266,221 | ||||||
49,161 | NuStar Energy LP, 7.625% (3-Month USD-LIBOR + 5.643%)(a)(d) | 1,030,415 | ||||||
6,165 | Synchrony Financial, 5.625%(d) | 164,606 | ||||||
16,234 | WESCO International Inc., 10.625% (5-Year CMT Index + 10.325%(a))(d) | 510,397 | ||||||
6,536 | Wintrust Financial Corp., 6.875% (5-Year CMT Index + 6.507%)(a)(d) | 185,884 | ||||||
Total United States | 20,334,628 | |||||||
TOTAL PREFERRED STOCKS | ||||||||
(Cost - $21,318,518) | 22,407,084 | |||||||
WARRANTS - 0.0% | ||||||||
Bermuda - 0.0% | ||||||||
558,670 | McDermott International Ltd.*(e)(f) | 5,587 | ||||||
502,803 | WT PUR COM*(e)(f) | 5,028 | ||||||
Total Bermuda | 10,615 | |||||||
Brazil – 0.0% | ||||||||
58,463 | OAS finance Ltd. Warrants*(e)(f) | – | ||||||
Canada – 0.0% | ||||||||
79,154 | BGP Acquisition Corp.*(e) | 64,906 | ||||||
Israel – 0.0% | ||||||||
41,956 | Gemmacert Ltd.* | – | ||||||
United States - 0.0% | ||||||||
16,698 | Hamilton Lane Alliance Holdings I Inc.*(e) | 11,356 | ||||||
30,026 | Isleworth Healthcare Acquisition Corp.*(e) | 18,916 | ||||||
178,302 | Mason Industrial Technology Inc.*(e) | 142,642 | ||||||
16,680 | One Equity Partners Open Water I Corp.*(e) | 12,345 | ||||||
9,470 | RMG Acquisition Corp. III* | 8,240 | ||||||
25,384 | Tailwind International Acquisition Corp.*(e) | 17,010 | ||||||
24,657 | Tailwind Two Acquisition Corp.*(e) | 17,506 | ||||||
Total United States | 228,015 | |||||||
TOTAL WARRANTS | ||||||||
(Cost - $631,496) | 303,536 | |||||||
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS | ||||||||
(Cost - $ 715,566,860) | 725,028,154 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Global Fixed Income Opportunities Fund (continued)
Face Amount | Security | Value | ||||||
SHORT-TERM INVESTMENTS - 10.9% | ||||||||
TIME DEPOSITS - 10.9% | ||||||||
$ | 43,670 | ANZ National Bank - London, 0.005% due 6/1/21 | $ | 43,670 | ||||
58,018,910 | Banco Bilbao Vizcaya Argentaria SA - Madrid, 0.005% due 6/1/21 | 58,018,910 | ||||||
26,591,117 | BNP Paribas - Paris, 0.005% due 6/1/21 | 26,591,117 | ||||||
TOTAL TIME DEPOSITS | ||||||||
(Cost - $84,653,697) | 84,653,697 |
Shares/Units | ||||||||
INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING - 0.4% | ||||||||
MONEY MARKET FUND - 0.4% | ||||||||
3,452,317 | Federated Government Obligations Fund, Premier Class, 0.025%(j) | |||||||
(Cost - $3,452,317) | $ | 3,452,317 | ||||||
TOTAL INVESTMENTS – 104.7% | ||||||||
(Cost - $ 803,672,874) | 813,134,168 | |||||||
Liabilities in Excess of Other Assets - (4.7)% | (36,487,168 | ) | ||||||
TOTAL NET ASSETS - 100.0% | $ | 776,647,000 |
# | May 28, 2021 represents the last business day of the Fund’s fiscal first quarter. |
† | Face amount denominated in U.S. dollars, unless otherwise noted. |
* | Non-income producing security. |
(a) | Variable rate security. Interest rate disclosed is that which was in effect at May 28, 2021. |
(b) | Restricted security that may be sold to “qualified institutional buyers” pursuant to the conditions of Rule 144A under the Securities Act of 1933, as amended. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees, unless otherwise noted. The aggregate value of restricted 144A holdings at May 28, 2021, amounts to approximately $210,696,524 and represents 27.13% of net assets. |
(c) | Payment in-kind security for which part of the income earned may be paid as additional principal. |
(d) | Security is perpetual in nature and has no stated maturity date. |
(e) | Illiquid security. The aggregate value of illiquid holdings at May 28, 2021, amounts to approximately $53,828,533 and represents 6.93% of net assets. |
(f) | Security is valued in good faith at fair value by or under the direction of the Board of Trustees using significant unobservable inputs. |
(g) | Security is currently in default. |
(h) | This position represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate. |
(i) | All or a portion of this security is on loan. |
(j) | Represents investment of collateral received from securities lending transactions. |
@ | Restricted security – Investment in security not registered under the Securities Act of 1933. The investment is deemed to not be liquid and may be sold only to qualified buyers. |
Security | First Date | First Cost | Market Value | Percent of Net Assets | ||||||||||||
QBE Insurance Group Ltd., Subordinated Notes, 6.750% (USD Swap Rate + 4.300%) due 12/2/44 |
10/2/18 | $ | 2,109,000 | $ | 1,470,950 | 0.19 | % | |||||||||
UniCredit SpA, Junior Subordinated Notes, 8.000% (5-Year USD Swap Rate + 5.180%) |
5/4/17 | 328,006 | 271,613 | 0.04 | % | |||||||||||
UBS Group AG, Junior Subordinated Notes, 6.875% (5-Year USD Swap Rate + 4.590%) |
4/18/17 | 1,300,500 | 1,589,003 | 0.20 | % | |||||||||||
Total | $ | 3,331,566 | 0.43 | % |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Global Fixed Income Opportunities Fund (continued)
Abbreviations used in this schedule: | ||||||||
CMT | — | Constant Maturity Treasury Index | ||||||
EURIBOR | — | Euro Interbank Offered Rate | ||||||
ICE | — | Intercontinental Exchange | ||||||
LIBOR | — | London Interbank Offered Rate | ||||||
LLC | — | Limited Liability Company | ||||||
LP | — | Limited Partnership | ||||||
NIBOR | — | Norwegian Interbank Offered Rate | ||||||
PCL | — | Public Company Limited | ||||||
PLC | — | Public Limited Company | ||||||
SOFR | — | Secured Overnight Financing Rate | ||||||
Summary of Investments by Security Type^ | ||||
Corporate Bonds & Notes | 62.3 | % | ||
Sovereign Bonds | 8.1 | |||
Common Stocks | 8.1 | |||
Senior Loans | 7.9 | |||
Preferred Stocks | 2.8 | |||
Warrants | 0.0 | * | ||
Short-Term Investments | 10.4 | |||
Money Market Fund | 0.4 | |||
100.0 | % |
^ As a percentage of total investments.
* Position represents less than 0.05%.
Schedule of Options Contracts Written
Equity Options
Number of Contracts | Notional Amount | Security Name | Counterparty | Expiration Date | Exercise Rate | Value | |||||||||
333 | 442,890 | CF Finance Acquisition Corp. II | CIBC | 7/16/21 | $10.00 | $ | 73,260 | ||||||||
TOTAL OPTION CONTRACTS WRITTEN | |||||||||||||||
(Premiums received — $53,400) | $ | 73,260 |
At May 28, 2021, Destinations Global Fixed Income Opportunities Fund had open forward foreign currency contracts as described below.
The unrealized appreciation/(depreciation) on the open contracts were as follows:
Foreign Currency | Local Currency | Counterparty | Market Value | Settlement Date | Unrealized Appreciation | Unrealized (Depreciation) | Unrealized Appreciation/ (Depreciation) | ||||||||||||||
Contracts to Sell: | |||||||||||||||||||||
Euro | 19,910,000 | BBH | $ | 24,286,174 | 6/15/21 | $ | – | $ | (58,093 | ) | $ | (58,093 | ) | ||||||||
Norwegian Krone | 65,455,000 | BBH | 7,829,526 | 6/15/21 | 110,011 | – | 110,011 | ||||||||||||||
Swedish Krona | 8,980,000 | BBH | 1,081,505 | 6/15/21 | – | (2,374 | ) | (2,374 | ) | ||||||||||||
Net Unrealized Appreciation on Open Forward Foreign Currency Contracts | $ | 110,011 | $ | (60,467 | ) | $ | 49,544 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Global Fixed Income Opportunities Fund (concluded)
Currency Abbreviations used in this schedule: | ||
EUR | — | Euro |
NOK | — | Norwegian Krone |
SEK | — | Swedish Krona |
Counterparty Abbreviations used in this schedule: | ||
BBH | — | Brown Brothers Harriman & Co. |
CIBC | — | CIBC World Markets Corp. |
Face Amount† | Security | Value | ||||||
SECURITIES SOLD SHORT - 1.3% | ||||||||
CORPORATE BOND & NOTE - 0.1% | ||||||||
Consumer Non-cyclical - 0.1% | ||||||||
$ | 840,000 | McKesson Corp., Senior Unsecured Notes, 3.950% due 2/16/28 | $ | 946,900 | ||||
(Proceeds - $813,540) | ||||||||
Shares/Units | ||||||||
EXCHANGE TRADED FUND (ETF) - 1.0% | ||||||||
94,084 | iShares iBoxx High Yield Corporate Bond | 8,202,243 | ||||||
(Proceeds - $8,210,716) | ||||||||
COMMON STOCKS - 0.2% | ||||||||
ENERGY - 0.1% | ||||||||
Pipelines - 0.1% | ||||||||
23,994 | Crestwood Equity Partners LP | 687,668 | ||||||
INDUSTRIAL - 0.1% | ||||||||
Environmental Control - 0.1% | ||||||||
13,400 | GFL Environmental Inc. | 436,036 | ||||||
TOTAL COMMON STOCKS | ||||||||
(Proceeds - $882,337) | 1,123,704 | |||||||
TOTAL SECURITIES SOLD SHORT - 1.3% | ||||||||
(Proceeds - $9,906,593) | $ | 10,272,847 |
# | May 28, 2021 represents the last business day of the Fund’s fiscal first quarter. |
† | Face amount denominated in U.S. dollars, unless otherwise noted. |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Multi Strategy Alternatives Fund
Face Amount/Units | Security | Value | ||||||
COLLATERALIZED MORTGAGE OBLIGATIONS - 21.6% | ||||||||
$ | 2,604,381 | Alternative Loan Trust, Series 2005-61, Class 2A2, 0.852% (1-Month USD-LIBOR + 0.760%) due 12/25/35(a) | $ | 2,380,156 | ||||
925,954 | Bear Stearns ALT-A Trust, Series 2006-8, Class 3A1, 0.412% (1-Month USD-LIBOR + 0.320%) due 2/25/34(a) | 898,428 | ||||||
Connecticut Avenue Securities Trust: | ||||||||
4,320,000 | Series 2018-R07, Class 1B1, 4.442% (1-Month USD-LIBOR + 4.350%) due 4/25/31(a)(b) | 4,475,787 | ||||||
5,451,598 | Series 2018-R07, Class 1M2, 2.492% (1-Month USD-LIBOR + 2.400%) due 4/25/31(a)(b) | 5,479,122 | ||||||
2,930,000 | Series 2019-HRP1, Class B1, 9.342% (1-Month USD-LIBOR + 9.250%) due 11/25/39(a)(b) | 3,010,966 | ||||||
4,180,000 | Series 2019-R02, Class 1B1, 4.242% (1-Month USD-LIBOR + 4.150%) due 8/25/31(a)(b) | 4,309,338 | ||||||
5,880,000 | Series 2019-R03, Class 1B1, 4.192% (1-Month USD-LIBOR + 4.100%) due 9/25/31(a)(b) | 6,043,799 | ||||||
3,024,948 | Deutsche Alternative-A Securities Mortgage Loan Trust, Series 2007-OA5, Class A1A, 0.292% (1-Month USD-LIBOR + 0.200%) due 8/25/47(a) | 2,846,290 | ||||||
Federal National Mortgage Association (FNMA), Connecticut Avenue Securities@: | ||||||||
2,206,559 | Series 2015-C04, Class 1M2, 5.792% (1-Month USD-LIBOR + 5.700%) due 4/25/28(a) | 2,336,320 | ||||||
8,070,311 | Series 2016-C01, Class 1M2, 6.842% (1-Month USD-LIBOR + 6.750%) due 8/25/28(a) | 8,644,946 | ||||||
1,558,554 | Series 2016-C01, Class 2M2, 7.042% (1-Month USD-LIBOR + 6.950%) due 8/25/28(a) | 1,656,823 | ||||||
3,165,689 | Series 2016-C03, Class 1M2, 5.392% (1-Month USD-LIBOR + 5.300%) due 10/25/28(a) | 3,324,976 | ||||||
8,480,082 | Series 2016-C03, Class 2M2, 5.992% (1-Month USD-LIBOR + 5.900%) due 10/25/28(a) | 8,949,456 | ||||||
4,101,957 | Series 2016-C04, Class 1M2, 4.342% (1-Month USD-LIBOR + 4.250%) due 1/25/29(a) | 4,270,698 | ||||||
7,219,217 | Series 2016-C05, Class 2M2, 4.542% (1-Month USD-LIBOR + 4.450%) due 1/25/29(a) | 7,528,462 | ||||||
10,460,002 | Series 2016-C07, Class 2M2, 4.442% (1-Month USD-LIBOR + 4.350%) due 5/25/29(a) | 10,944,058 | ||||||
7,060,000 | Series 2017-C01, Class 1B1, 5.842% (1-Month USD-LIBOR + 5.750%) due 7/25/29(a) | 7,749,350 | ||||||
5,747,723 | Series 2017-C01, Class 1M2, 3.642% (1-Month USD-LIBOR + 3.550%) due 7/25/29(a) | 5,962,598 | ||||||
1,800,000 | Series 2017-C01, Class 1M2C, 3.642% (1-Month USD-LIBOR + 3.550%) due 7/25/29(a) | 1,864,774 | ||||||
6,667,264 | Series 2017-C02, Class 2M2, 3.742% (1-Month USD-LIBOR + 3.650%) due 9/25/29(a) | 6,917,152 | ||||||
3,953,249 | Series 2017-C02, Class 2M2C, 3.742% (1-Month USD-LIBOR + 3.650%) due 9/25/29(a) | 4,091,729 | ||||||
3,763,432 | Series 2017-C02, Class 2X3, 2.300% due 9/25/29(c) | 88,021 | ||||||
6,920,000 | Series 2017-C03, Class 1B1, 4.942% (1-Month USD-LIBOR + 4.850%) due 10/25/29(a) | 7,395,837 | ||||||
5,016,110 | Series 2017-C03, Class 1M2C, 3.092% (1-Month USD-LIBOR + 3.000%) due 10/25/29(a) | 5,117,354 | ||||||
8,356,771 | Series 2017-C03, Class 1X1, 2.300% due 10/25/29(c) | 179,701 | ||||||
8,662,107 | Series 2017-C05, Class 1M2, 2.292% (1-Month USD-LIBOR + 2.200%) due 1/25/30(a) | 8,787,458 | ||||||
3,600,000 | Series 2017-C06, Class 2B1, 4.542% (1-Month USD-LIBOR + 4.450%) due 2/25/30(a) | 3,764,273 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Multi Strategy Alternatives Fund (continued)
Face Amount/Units | Security | Value | ||||||
COLLATERALIZED MORTGAGE OBLIGATIONS - 21.6% (continued) | ||||||||
$ | 2,557,107 | Series 2017-C07, Class 1M2, 2.492% (1-Month USD-LIBOR + 2.400%) due 5/25/30(a) | $ | 2,594,069 | ||||
2,210,024 | Series 2017-C07, Class 2M2B, 2.592% (1-Month USD-LIBOR + 2.500%) due 5/25/30(a) | 2,232,096 | ||||||
15,576,558 | Series 2018-C01, Class 1ED5, 2.342% (1-Month USD-LIBOR + 2.250%) due 7/25/30(a) | 15,711,721 | ||||||
11,509,289 | Series 2018-C01, Class 1M2, 2.342% (1-Month USD-LIBOR + 2.250%) due 7/25/30(a) | 11,612,482 | ||||||
3,528,000 | Series 2018-C03, Class 1B1, 3.842% (1-Month USD-LIBOR + 3.750%) due 10/25/30(a) | 3,644,705 | ||||||
7,337,869 | Series 2018-C03, Class 1M2, 2.242% (1-Month USD-LIBOR + 2.150%) due 10/25/30(a) | 7,417,182 | ||||||
6,546,000 | Series 2018-C05, Class 1B1, 4.342% (1-Month USD-LIBOR + 4.250%) due 1/25/31(a) | 6,779,652 | ||||||
2,665,570 | FNBA Mortgage Loan Trust, Series 2004-AR1, Class M2, 1.748% (1-Month USD-LIBOR + 1.650%) due 8/19/34(a) | 2,732,782 | ||||||
Freddie Mac STACR REMIC Trust: | ||||||||
7,670,000 | Series 2020-DNA3, Class B1, 5.192% (1-Month USD-LIBOR + 5.100%) due 6/25/50(a)(b) | 8,041,215 | ||||||
9,000,000 | Series 2020-DNA4, Class B1, 6.092% (1-Month USD-LIBOR + 6.000%) due 8/25/50(a)(b) | 9,603,033 | ||||||
370,145 | Series 2020-DNA4, Class M2, 3.842% (1-Month USD-LIBOR + 3.750%) due 8/25/50(a)(b) | 373,483 | ||||||
3,077,622 | Series 2020-DNA4, Class M2AI, 2.250% due 8/25/50(b)(c) | 224,411 | ||||||
4,936,500 | Series 2020-DNA4, Class M2B, 3.842% (1-Month USD-LIBOR + 3.750%) due 8/25/50(a)(b) | 4,970,722 | ||||||
3,664,485 | Series 2020-HQA4, Class M2, 3.242% (1-Month USD-LIBOR + 3.150%) due 9/25/50(a)(b) | 3,699,045 | ||||||
Freddie Mac STACR Trust: | ||||||||
2,384,000 | Series 2018-DNA2, Class B1, 3.792% (1-Month USD-LIBOR + 3.700%) due 12/25/30(a)(b) | 2,462,562 | ||||||
3,580,000 | Series 2019-DNA2, Class B1, 4.442% (1-Month USD-LIBOR + 4.350%) due 3/25/49(a)(b) | 3,731,883 | ||||||
Freddie Mac Structured Agency Credit Risk Debt Notes@: | ||||||||
6,864,749 | Series 2016-DNA1, Class M3, 5.642% (1-Month USD-LIBOR + 5.550%) due 7/25/28(a) | 7,195,410 | ||||||
5,125,998 | Series 2016-HQA1, Class M3, 6.442% (1-Month USD-LIBOR + 6.350%) due 9/25/28(a) | 5,470,050 | ||||||
6,972,000 | Series 2017-DNA2, Class B1, 5.242% (1-Month USD-LIBOR + 5.150%) due 10/25/29(a) | 7,583,609 | ||||||
4,935,241 | Series 2017-DNA2, Class M2, 3.542% (1-Month USD-LIBOR + 3.450%) due 10/25/29(a) | 5,144,669 | ||||||
9,445,527 | Series 2017-HQA1, Class M2, 3.642% (1-Month USD-LIBOR + 3.550%) due 8/25/29(a) | 9,759,507 | ||||||
3,041,000 | Series 2017-HQA1, Class M2B, 3.642% (1-Month USD-LIBOR + 3.550%) due 8/25/29(a) | 3,104,971 | ||||||
9,205,888 | Series 2017-HQA2, Class M2, 2.742% (1-Month USD-LIBOR + 2.650%) due 12/25/29(a) | 9,390,014 | ||||||
4,290,000 | Series 2017-HQA3, Class B1, 4.542% (1-Month USD-LIBOR + 4.450%) due 4/25/30(a) | 4,508,087 | ||||||
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost - $262,610,497) | 267,005,232 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Multi Strategy Alternatives Fund (continued)
Face Amount/Units | Security | Value | ||||||
ASSET-BACKED SECURITIES - 11.7% | ||||||||
$ | 3,500,000 | Aames Mortgage Investment Trust, Series 2005-4, Class M3, 0.872% (1-Month USD-LIBOR + 0.780%) due 10/25/35(a) | $ | 3,487,168 | ||||
ABFC Trust: | ||||||||
3,037,615 | Series 2003-OPT1, Class A3, 0.772% (1-Month USD-LIBOR + 0.680%) due 4/25/33(a) | 2,952,690 | ||||||
2,172,264 | Series 2005-WF1, Class M2, 0.692% (1-Month USD-LIBOR + 0.600%) due 10/25/34(a) | 2,157,879 | ||||||
1,915,894 | Accredited Mortgage Loan Trust, Series 2006-2, Class A4, 0.352% (1-Month USD-LIBOR + 0.260%) due 9/25/36(a) | 1,885,522 | ||||||
Brookside Mill CLO Ltd.: | ||||||||
3,000,000 | Series 2013-1A, Class BR, 1.540% (3-Month USD-LIBOR + 1.350%) due 1/17/28(a)(b) | 2,987,577 | ||||||
410,000 | Series 2013-1A, Class ER, 5.690% (3-Month USD-LIBOR + 5.500%) due 1/17/28(a)(b) | 376,192 | ||||||
1,350,000 | Carlyle Global Market Strategies CLO 2015-3 Ltd., Series 2015-3A, Class ER, 8.434% (3-Month USD-LIBOR + 8.250%) due 7/28/28(a)(b) | 1,228,663 | ||||||
18,646,896 | Countrywide Asset-Backed Certificates, Series 2006-22, Class 1A, 0.232% (1-Month USD-LIBOR + 0.140%) due 6/25/35(a) | 17,521,878 | ||||||
1,247,076 | CWABS Asset-Backed Certificates Trust, Series 2007-12, Class 2A3, 0.892% (1-Month USD-LIBOR + 0.800%) due 8/25/47(a) | 1,241,626 | ||||||
2,243,215 | Ellington Loan Acquisition Trust, Series 2007-1, Class A1, 1.192% (1-Month USD-LIBOR + 1.100%) due 5/25/37(a)(b) | 2,247,016 | ||||||
3,419,052 | EquiFirst Mortgage Loan Trust, Series 2003-2, Class 1A1, 1.226% (1-Month USD-LIBOR + 1.125%) due 9/25/33(a) | 3,421,961 | ||||||
2,433,390 | Flatiron CLO 2015-1 Ltd., Series 2015-1A, Class AR, 1.074% (3-Month USD-LIBOR + 0.890%) due 4/15/27(a)(b) | 2,433,456 | ||||||
5,690,553 | Fremont Home Loan Trust, Series 2003-A, Class M1, 1.067% (1-Month USD-LIBOR + 0.975%) due 8/25/33(a) | 5,648,746 | ||||||
1,648,669 | Gallatin CLO VIII 2017-1 Ltd., Series 2017-1A, Class A, 1.484% (3-Month USD-LIBOR + 1.300%) due 7/15/27(a)(b) | 1,648,466 | ||||||
Home Equity Asset Trust: | ||||||||
3,259,975 | Series 2004-2, Class M1, 0.887% (1-Month USD-LIBOR + 0.795%) due 7/25/34(a) | 3,234,374 | ||||||
1,384,560 | Series 2005-7, Class M1, 0.767% (1-Month USD-LIBOR + 0.675%) due 1/25/36(a) | 1,383,364 | ||||||
1,675,116 | HSI Asset Securitization Corp. Trust, Series 2006-OPT2, Class M2, 0.677% (1-Month USD-LIBOR + 0.585%) due 1/25/36(a) | 1,670,780 | ||||||
JP Morgan Mortgage Acquisition Trust: | ||||||||
4,300,000 | Series 2007-CH4, Class A5, 0.332% (1-Month USD-LIBOR + 0.240%) due 5/25/37(a) | 4,256,993 | ||||||
947,733 | Series 2007-CH5, Class A5, 0.352% (1-Month USD-LIBOR + 0.260%) due 6/25/37(a) | 940,597 | ||||||
4,663,576 | KKR CLO 16 Ltd., Series 16, Class A1R, 1.438% (3-Month USD-LIBOR + 1.250%) due 1/20/29(a)(b) | 4,663,564 | ||||||
2,700,000 | KVK CLO 2018-1 Ltd., Series 2018-1A, Class E, 6.005% (3-Month USD-LIBOR + 5.850%) due 5/20/29(a)(b) | 2,510,250 | ||||||
7,300,000 | Long Beach Mortgage Loan Trust, Series 2005-WL1, Class M4, 1.142% (1-Month USD-LIBOR + 1.050%) due 6/25/35(a) | 7,324,809 | ||||||
1,300,000 | Longfellow Place CLO Ltd., Series 2013-1A, Class ERR, 7.884% (3-Month USD-LIBOR + 7.700%) due 4/15/29(a)(b) | 1,283,267 | ||||||
Mastr Asset Backed Securities Trust: | ||||||||
800,000 | Series 2004-FRE1, Class M7, 2.792% (1-Month USD-LIBOR + 2.700%) due 7/25/34(a) | 803,425 | ||||||
3,361,823 | Series 2004-WMC1, Class M1, 0.872% (1-Month USD-LIBOR + 0.780%) due 2/25/34(a) | 3,355,758 | ||||||
Merrill Lynch Mortgage Investors Trust: | ||||||||
1,209,454 | Series 2005-FM1, Class M1, 0.812% (1-Month USD-LIBOR + 0.720%) due 5/25/36(a) | 1,200,170 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Multi Strategy Alternatives Fund (continued)
Face Amount/Units | Security | Value | ||||||
ASSET-BACKED SECURITIES - 11.7% (continued) | ||||||||
$ | 3,454,911 | Series 2006-OPT1, Class A2C, 0.242% (1-Month USD-LIBOR + 0.150%) due 8/25/37(a) | $ | 3,353,953 | ||||
Nationstar Home Equity Loan Trust: | ||||||||
3,797,619 | Series 2006-B, Class AV4, 0.372% (1-Month USD-LIBOR + 0.280%) due 9/25/36(a) | 3,789,089 | ||||||
3,315,149 | Series 2007-C, Class 1AV1, 0.267% (1-Month USD-LIBOR + 0.175%) due 6/25/37(a) | 3,227,006 | ||||||
4,327,472 | NovaStar Mortgage Funding Trust, Series 2006-1, Class A2C, 0.412% (1-Month USD-LIBOR + 0.320%) due 5/25/36(a) | 4,263,465 | ||||||
940,453 | Option One Mortgage Loan Trust, Series 2005-3, Class M2, 0.827% (1-Month USD-LIBOR + 0.735%) due 8/25/35(a) | 939,212 | ||||||
2,936,508 | Park Place Securities Inc., Series 2005-WCW1, Class M2, 0.797% (1-Month USD-LIBOR + 0.705%) due 9/25/35(a) | 2,941,296 | ||||||
Park Place Securities Inc. Asset-Backed Pass-Through Certificates: | ||||||||
3,600,000 | Series 2005-WCH1, Class M5, 1.412% (1-Month USD-LIBOR + 1.320%) due 1/25/36(a) | 3,600,452 | ||||||
2,738,831 | Series 2005-WCW2, Class M2, 0.887% (1-Month USD-LIBOR + 0.795%) due 7/25/35(a) | 2,737,745 | ||||||
3,500,000 | People's Choice Home Loan Securities Trust, Series 2005-1, Class M5, 1.592% (1-Month USD-LIBOR + 1.500%) due 1/25/35(a) | 2,914,825 | ||||||
4,102,010 | Soundview Home Loan Trust, Series 2006-EQ1, Class A3, 0.252% (1-Month USD-LIBOR + 0.160%) due 10/25/36(a) | 4,081,199 | ||||||
380,000 | Steele Creek CLO 2016-1 Ltd., Series 2016-1A, Class ER, 5.934% (3-Month USD-LIBOR + 5.750%) due 6/15/31(a)(b) | 334,400 | ||||||
2,145,318 | Structured Asset Investment Loan Trust, Series 2004-7, Class A7, 0.932% (1-Month USD-LIBOR + 0.840%) due 8/25/34(a) | 2,142,493 | ||||||
Structured Asset Securities Corp. Mortgage Loan Trust: | ||||||||
1,000,000 | Series 2005-WF4, Class M6, 1.097% (1-Month USD-LIBOR + 1.005%) due 11/25/35(a) | 986,754 | ||||||
2,600,000 | Series 2005-WF4, Class M8, 2.717% (1-Month USD-LIBOR + 2.625%) due 11/25/35(a) | 2,648,998 | ||||||
11,181,847 | Series 2006-BC6, Class A1, 0.252% (1-Month USD-LIBOR + 0.160%) due 1/25/37(a) | 10,974,112 | ||||||
2,223,437 | Series 2006-BC6, Class A4, 0.262% (1-Month USD-LIBOR + 0.170%) due 1/25/37(a) | 2,211,588 | ||||||
2,657,019 | Series 2006-GEL1, Class M2, 1.292% (1-Month USD-LIBOR + 1.200%) due 11/25/35(a)(b) | 2,658,476 | ||||||
3,159,076 | Series 2006-GEL1, Class M3, 3.467% (1-Month USD-LIBOR + 3.375%) due 11/25/35(a)(b) | 2,943,857 | ||||||
4,682,444 | Terwin Mortgage Trust, Series 2006-5, Class 1A2B, 0.302% (1-Month USD-LIBOR + 0.210%) due 7/25/37(a)(b) | 4,625,500 | ||||||
620,000 | Trinitas CLO III Ltd., Series 2015-3A, Class E, 5.434% (3-Month USD-LIBOR + 5.250%) due 7/15/27(a)(b) | 574,084 | ||||||
1,030,000 | Venture XVIII CLO Ltd., Series 2014-18A, Class ER, 6.774% (3-Month USD-LIBOR + 6.590%) due 10/15/29(a)(b) | 988,967 | ||||||
TOTAL ASSET-BACKED SECURITIES (Cost - $139,342,661) | 144,803,662 | |||||||
CORPORATE BONDS & NOTES - 7.8% | ||||||||
Communications - 0.5% | ||||||||
6,446,000 | Cincinnati Bell Inc., Company Guaranteed Notes, 7.000% due 7/15/24(b)(d) | 6,639,380 | ||||||
Consumer Cyclical - 3.0% | ||||||||
8,765,000 | Arrow Bidco LLC, Senior Secured Notes, 9.500% due 3/15/24(b)(d) | 8,600,656 | ||||||
12,550,000 | Cinemark USA Inc., Company Guaranteed Notes, 4.875% due 6/1/23(d) | 12,562,550 | ||||||
7,800,000 | Guitar Center Inc., Senior Secured Notes, 8.500% due 1/15/26(b)(d) | 8,268,000 | ||||||
7,800,000 | LSF9 Atlantis Holdings LLC/Victra Finance Corp., Senior Secured Notes, 7.750% due 2/15/26(b)(d) | 7,940,712 | ||||||
Total Consumer Cyclical | 37,371,918 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Multi Strategy Alternatives Fund (continued)
Face Amount/Units | Security | Value | ||||||
CORPORATE BONDS & NOTES - (continued) | ||||||||
Consumer Non-cyclical - 0.5% | ||||||||
$ | 916,000 | Cytokinetics Inc., Senior Unsecured Notes, 4.000% due 11/15/26 | $ | 2,055,321 | ||||
5,490,000 | Progenity Inc., Senior Unsecured Notes, 7.250% due 12/1/25(b) | 3,785,880 | ||||||
Total Consumer Non-cyclical | 5,841,201 | |||||||
Energy - 0.5% | ||||||||
5,883,375 | Transocean Pontus Ltd., Senior Secured Notes, 6.125% due 8/1/25(b) | 5,839,250 | ||||||
Financial - 2.4% | ||||||||
8,756,000 | ILFC E-Capital Trust I, Limited Guaranteed Notes, 4.000% due 12/21/65(a)(b)(d) | 7,344,533 | ||||||
13,243,000 | JPMorgan Chase & Co., Junior Subordinated Notes, 3.656% (3-Month USD-LIBOR + 3.470%) (a)(d)(e) | 13,193,339 | ||||||
11,627,000 | USB Realty Corp., Junior Subordinated Notes, 1.331% (3-Month USD-LIBOR + 1.147%) (a)(b)(d)(e) | 9,127,195 | ||||||
Total Financial | 29,665,067 | |||||||
Industrial - 0.9% | ||||||||
9,563,000 | Fortress Transportation & Infrastructure Investors LLC, Senior Unsecured Notes, 9.750% due 8/1/27(b)(d) | 11,033,311 | ||||||
TOTAL CORPORATE BONDS & NOTES (Cost - $93,711,562) | 96,390,127 | |||||||
Shares/Units | ||||||||
COMMON STOCKS - 32.4% | ||||||||
COMMUNICATIONS - 4.0% | ||||||||
Media - 2.0% | ||||||||
268,605 | Altice USA Inc., Class A Shares* | 9,685,896 | ||||||
346,167 | Liberty Media Corp.-Liberty SiriusXM* | 15,113,651 | ||||||
Total Media | 24,799,547 | |||||||
Telecommunications - 2.0% | ||||||||
1,138,767 | HC2 Holdings Inc.*(f) | 4,555,068 | ||||||
331,746 | Telephone & Data Systems Inc. | 8,532,507 | ||||||
80,106 | T-Mobile US Inc.* | 11,330,994 | ||||||
Total Telecommunications | 24,418,569 | |||||||
TOTAL COMMUNICATIONS | 49,218,116 | |||||||
CONSUMER CYCLICAL - 1.4% | ||||||||
Entertainment - 1.4% | ||||||||
396,546 | Golden Entertainment Inc.*(d) | 16,908,722 | ||||||
CONSUMER NON-CYCLICAL - 8.6% | ||||||||
Biotechnology - 4.4% | ||||||||
68,636 | Alexion Pharmaceuticals Inc.* | 12,117,686 | ||||||
41,014 | Ascendis Pharma AS, ADR*(d) | 5,511,461 | ||||||
576,574 | Crinetics Pharmaceuticals Inc.* | 10,118,874 | ||||||
481,743 | Relay Therapeutics Inc.*(d) | 15,473,585 | ||||||
121,607 | SpringWorks Therapeutics Inc.* | 9,915,835 | ||||||
202,993 | Trillium Therapeutics Inc.*(f) | 1,617,854 | ||||||
Total Biotechnology | 54,755,295 | |||||||
Healthcare-Products - 1.2% | ||||||||
210,298 | Alphatec Holdings Inc.* | 3,049,321 | ||||||
100,399 | Avita Medical Inc.* | 1,813,206 | ||||||
54,523 | Itamar Medical Ltd., ADR* | 1,116,631 | ||||||
190,196 | Progenity Inc.*(f) | 492,608 | ||||||
393,649 | SeaSpine Holdings Corp.* | 8,022,566 | ||||||
Total Healthcare-Products | 14,494,332 | |||||||
Healthcare-Services - 1.2% | ||||||||
494,301 | Invitae Corp.*(d)(f) | 14,225,983 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Multi Strategy Alternatives Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
CONSUMER NON-CYCLICAL - 8.6% - (continued) | ||||||||
Pharmaceuticals - 1.8% | ||||||||
340,710 | Curaleaf Holdings Inc.* | $ | 5,021,520 | |||||
667,177 | Cytokinetics Inc.*(d) | 14,564,474 | ||||||
106,834 | Merus NV* | 2,259,539 | ||||||
Total Pharmaceuticals | 21,845,533 | |||||||
TOTAL CONSUMER NON-CYCLICAL | 105,321,143 | |||||||
DIVERSIFIED – 9.7% | ||||||||
SPACs - 8.8% | ||||||||
266,860 | BCTG Acquisition Corp.*(f) | 2,962,146 | ||||||
310,840 | Class Acceleration Corp., Class A Shares* | 3,021,365 | ||||||
386,550 | CM Life Sciences II Inc., Class A Shares*(g) | 4,870,530 | ||||||
439,830 | CM Life Sciences II Inc.*(g)(h)@ | 5,541,858 | ||||||
441,600 | CM Life Sciences III Inc.* | 4,711,872 | ||||||
43,574 | CM Life Sciences Inc., Class A Shares*(f) | 551,647 | ||||||
489,000 | CM Life Sciences Inc., Class A Shares*(g)(h)@ | 6,190,740 | ||||||
538,860 | Corazon Capital V838 Monoceros Corp.*(g) | 5,388,600 | ||||||
78,410 | Deep Lake Capital Acquisition Corp.* | 759,793 | ||||||
992,028 | EJF Acquisition Corp., Class A Shares*(g) | 9,533,389 | ||||||
431,882 | Empower Ltd., Class A Shares* | 4,344,733 | ||||||
131,699 | FG New America Acquisition Corp., Class A Shares*(f) | 1,330,160 | ||||||
937,446 | Jack Creek Investment Corp., Class A Shares* | 9,018,231 | ||||||
561,397 | L&F Acquisition Corp., Class A Shares* | 5,574,672 | ||||||
1,003,370 | Landcadia Holdings III Inc., Class A Shares*(f) | 10,585,553 | ||||||
219,849 | Live Oak Mobility Acquisition Corp.* | 2,198,490 | ||||||
770,900 | Longview Acquisition Corp. II* | 7,809,217 | ||||||
883,605 | Montes Archimedes Acquisition Corp., Class A Shares*(d) | 8,703,509 | ||||||
170,595 | Mudrick Capital Acquisition Corp. II, Class A Shares*(f) | 2,328,622 | ||||||
464,904 | Senior Connect Acquisition Corp. I, Class A Shares* | 4,504,920 | ||||||
772,800 | Soaring Eagle Acquisition Corp.* | 7,944,384 | ||||||
438,892 | Tekkorp Digital Acquisition Corp., Class A Shares* | 4,287,975 | ||||||
263,615 | Thayer Ventures Acquisition Corp., Class A Shares* | 2,617,697 | ||||||
310,520 | Tishman Speyer Innovation Corp. II, Class A Shares* | 3,067,938 | ||||||
232,340 | Z-Work Acquisition Corp., Class A Shares* | 2,242,081 | ||||||
Total SPACs | 120,090,122 | |||||||
TOTAL DIVERSIFIED | 120,090,122 | |||||||
FINANCIAL – 6.6% | ||||||||
Banks - 3.7% | ||||||||
1,021,356 | Eastern Bankshares Inc.(d) | 22,878,374 | ||||||
790,724 | HarborOne Bancorp Inc. | 11,742,251 | ||||||
870,071 | Kearny Financial Corp. | 11,406,631 | ||||||
Total Banks | 46,027,256 | |||||||
Equity Real Estate Investment Trusts (REITs) - 2.0% | ||||||||
485,254 | Equity Commonwealth | 13,315,370 | ||||||
305,159 | MGM Growth Properties LLC, Class A Shares(d) | 10,946,053 | ||||||
Total Equity Real Estate Investment Trusts (REITs) | 24,261,423 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Multi Strategy Alternatives Fund (continued)
Shares/Units | Security | Value | ||||||
COMMON STOCKS - (continued) | ||||||||
FINANCIAL – 6.6% - (continued) | ||||||||
Savings & Loans - 0.9% | ||||||||
399,817 | Berkshire Hills Bancorp Inc. | $ | 11,094,921 | |||||
TOTAL FINANCIAL | 81,383,600 | |||||||
INDUSTRIAL - 1.0% | ||||||||
Transportation - 1.0% | ||||||||
89,437 | XPO Logistics Inc.* | 13,140,979 | ||||||
TECHNOLOGY - 1.1% | ||||||||
Computers - 0.1% | ||||||||
92,556 | iCAD Inc.* | 1,522,546 | ||||||
Software - 1.0% | ||||||||
270,362 | Slack Technologies Inc., Class A Shares*(d) | 11,906,743 | ||||||
TOTAL TECHNOLOGY | 13,429,289 | |||||||
TOTAL COMMON STOCKS (Cost - $343,314,339) | 399,491,971 | |||||||
OPEN-END FUND - 18.7% | ||||||||
19,975,228 | JPMorgan Strategic Income Opportunities Fund, Class R6 Shares (Cost - $230,862,478) | 230,713,882 | ||||||
PREFERRED STOCKS - 1.1% | ||||||||
COMMUNICATIONS - 0.2% | ||||||||
Telecommunications - 0.2% | ||||||||
77,001 | Telephone & Data Systems Inc., 6.625%*(e) | 2,117,528 | ||||||
CONSUMER CYCLICAL - 0.7% | ||||||||
Retail - 0.7% | ||||||||
85,000 | Qurate Retail Inc., 8.000% | 8,974,300 | ||||||
FINANCIAL - 0.2% | ||||||||
Financial Services - 0.2% | ||||||||
1,210,522 | 14ner Oncology Inc.*(g)(h)@ | 2,311,250 | ||||||
TOTAL PREFERRED STOCKS (Cost - $12,730,173) | 13,403,078 | |||||||
CLOSED-END FUND - 0.5% | ||||||||
230,533 | Fortress Transportation & Infrastructure Investors LLC, Class Common Shares (Cost - $4,437,586) | 6,740,785 | ||||||
WARRANTS - 0.1% | ||||||||
DIVERSIFIED - 0.1% | ||||||||
SPACs - 0.1% | ||||||||
155,420 | Class Acceleration Corp.*(g) | 87,035 | ||||||
77,310 | CM Life Sciences II Inc.*(g) | 280,635 | ||||||
39,205 | Deep Lake Capital Acquisition Corp.*(g) | 27,447 | ||||||
330,676 | EJF Acquisition Corp.*(g) | 222,247 | ||||||
26,187 | ION Acquisition Corp. 1 Ltd.*(g) | 48,970 | ||||||
468,723 | Jack Creek Investment Corp.*(g) | 314,044 | ||||||
244,085 | L&F Acquisition Corp.*(g) | 156,239 | ||||||
441,802 | Montes Archimedes Acquisition Corp.*(g) | 600,851 | ||||||
232,452 | Senior Connect Acquisition Corp. I*(g) | 153,418 | ||||||
219,657 | Tekkorp Digital Acquisition Corp.*(g) | 197,691 | ||||||
131,807 | Thayer Ventures Acquisition Corp.*(g) | 113,354 | ||||||
62,104 | Tishman Speyer Innovation Corp. II*(g) | 73,904 | ||||||
162,182 | TS Innovation Acquisitions Corp.*(g) | 377,884 | ||||||
23,299 | X4 Pharmaceuticals Inc.* | 466 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Multi Strategy Alternatives Fund (continued)
Shares/Units | Security | Value | ||||||
WARRANTS - (continued) | ||||||||
DIVERSIFIED - 0.1% - (continued) | ||||||||
SPACs - 0.1% - (continued) | ||||||||
77,446 | Z-Work Acquisition Corp.*(g) | $ | 55,769 | |||||
Total SPACs | 2,709,954 | |||||||
TOTAL DIVERSIFIED | 2,709,954 | |||||||
TOTAL WARRANTS | ||||||||
(Cost - $3,127,545) | 2,709,954 |
Number of Contracts | Notional Amounts | |||||||
PURCHASED SWAPTION - 0.2% | ||||||||
Interest Rate Swaption - 0.2% | ||||||||
90,000,000 | 117,000 | 10-Year Constant Maturity Swap, 3-Month USD-LIBOR, Call, 2.25, expires 5/22/23 | 2,671,069 | |||||
TOTAL PURCHASED SWAPTION (Cost - $2,029,500) | 2,671,069 | |||||||
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS (Cost - $1,092,166,341) | 1,163,929,760 |
Face Amount † | ||||||||
SHORT-TERM INVESTMENTS - 4.4% | ||||||||
TIME DEPOSITS - 4.4% | ||||||||
29,219,684 | BNP Paribas - Paris, 0.005% due 6/1/21 | 29,219,684 | ||||||
25,094,359 | Skandinaviska Enskilda Banken AB - Stockholm, 0.005% due 6/1/21 | 25,094,359 | ||||||
TOTAL TIME DEPOSITS | ||||||||
(Cost - $54,314,043) | 54,314,043 | |||||||
Shares/Units | ||||||||
INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING - 1.6% | ||||||||
MONEY MARKET FUND - 1.6% | ||||||||
19,402,415 | Federated Government Obligations Fund, Premier Class, 0.025%(i) | |||||||
(Cost - $19,402,415) | $ | 19,402,415 | ||||||
TOTAL INVESTMENTS - 100.1% (Cost - $1,165,882,799) | 1,237,646,218 | |||||||
Liabilities in Excess of Other Assets - (0.1)% | (1,031,893 | ) | ||||||
TOTAL NET ASSETS - 100.0% | $ | 1,236,614,325 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Multi Strategy Alternatives Fund (continued)
# | May 28, 2021 represents the last business day of the Fund’s fiscal first quarter. | |
* | Non-income producing security. | |
(a) | Variable rate security. Interest rate disclosed is that which was in effect at May 28, 2021. | |
(b) | Restricted security that may be sold to “qualified institutional buyers” pursuant to the conditions of Rule 144A under the Securities Act of 1933, as amended. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees, unless otherwise noted. The aggregate value of restricted 144A holdings at May 28, 2021, amounts to approximately $156,508,018 and represents 12.66% of net assets. | |
(c) | Interest only security. | |
(d) | All or a portion of this security is pledged by the Fund as collateral for short sales or derivative transactions. | |
(e) | Security is perpetual in nature and has no stated maturity date. | |
(f) | All or a portion of this security is on loan. | |
(g) | Illiquid security. The aggregate value of illiquid holdings at May 28, 2021, amounts to approximately $36,545,855 and represents 2.96% of net assets. | |
(h) | Security is valued in good faith at fair value by or under the direction of the Board of Trustees using significant unobservable inputs. | |
(i) | Represents investment of collateral received from securities lending transactions. | |
@ | Restricted security – Investment in security not registered under the Securities Act of 1933. The investment is deemed to not be liquid and may be sold only to qualified buyers. |
Security | First Acquisition Date | First Acquisition Cost | Market Value | Percent of Net Assets | ||||||||||
14ner Oncology Inc. | 11/10/2020 | $ | 2,311,250 | $ | 2,311,250 | 0.19 | % | |||||||
CM Life Sciences Inc., Class A Shares | 2/9/2021 | 4,890,000 | 6,190,740 | 0.50 | % | |||||||||
CM Life Sciences II Inc. | 3/29/2021 | 4,398,300 | 5,541,858 | 0.45 | % | |||||||||
Federal National Mortgage Association (FNMA), Connecticut Avenue Securities: | ||||||||||||||
Series 2015-C04, Class 1M2, 5.792% (1-Month USD-LIBOR + 5.700%) due 4/25/28 | 3/26/2020 | 2,461,077 | 2,336,320 | 0.19 | % | |||||||||
Series 2016-C01, Class 1M2, 6.842% (1-Month USD-LIBOR + 6.750%) due 8/25/28 | 3/6/2020 | 1,335,384 | 8,644,946 | 0.70 | % | |||||||||
Series 2016-C01, Class 2M2, 7.042% (1-Month USD-LIBOR + 6.950%) due 8/25/28 | 6/17/2020 | 938,897 | 1,656,823 | 0.13 | % | |||||||||
Series 2016-C03, Class 1M2, 5.392% (1-Month USD-LIBOR + 5.300%) due 10/25/28 | 3/19/2020 | 1,066,978 | 3,324,976 | 0.27 | % | |||||||||
Series 2016-C03, Class 2M2, 5.992% (1-Month USD-LIBOR + 5.900%) due 10/25/28 | 3/17/2020 | 2,941,204 | 8,949,456 | 0.72 | % | |||||||||
Series 2016-C04, Class 1M2, 4.342% (1-Month USD-LIBOR + 4.250%) due 1/25/29 | 2/25/2021 | 263,109 | 4,270,698 | 0.35 | % | |||||||||
Series 2016-C05, Class 2M2, 4.542% (1-Month USD-LIBOR + 4.450%) due 1/25/29 | 4/26/2019 | 5,497,400 | 7,528,462 | 0.61 | % | |||||||||
Series 2016-C07, Class 2M2, 4.442% (1-Month USD-LIBOR + 4.350%) due 5/25/29 | 5/9/2019 | 4,217,292 | 10,944,058 | 0.89 | % | |||||||||
Series 2017-C01, Class 1B1, 5.842% (1-Month USD-LIBOR + 5.750%) due 7/25/29 | 11/17/2020 | 2,739,200 | 7,749,350 | 0.63 | % | |||||||||
Series 2017-C01, Class 1M2, 3.642% (1-Month USD-LIBOR + 3.550%) due 7/25/29 | 11/24/2020 | 895,148 | 5,962,598 | 0.48 | % | |||||||||
Series 2017-C01, Class 1M2C, 3.642% (1-Month USD-LIBOR + 3.550%) due 7/25/29 | 4/16/2020 | 1,494,000 | 1,864,774 | 0.15 | % | |||||||||
Series 2017-C02, Class 2M2, 3.742% (1-Month USD-LIBOR + 3.650%) due 9/25/29 | 8/20/2019 | 471,252 | 6,917,152 | 0.56 | % | |||||||||
Series 2017-C02, Class 2M2C, 3.742% (1-Month USD-LIBOR + 3.650%) due 9/25/29 | 5/19/2020 | 867,500 | 4,091,729 | 0.33 | % | |||||||||
Series 2017-C02, Class 2X3, 2.300% due 9/25/29 | 2/11/2021 | 101,032 | 88,021 | 0.01 | % | |||||||||
Series 2017-C03, Class 1B1, 4.942% (1-Month USD-LIBOR + 4.850%) due 10/25/29 | 1/12/2021 | 6,145,425 | 7,395,837 | 0.60 | % |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Multi Strategy Alternatives Fund (continued)
Security | First Acquisition Date | First Acquisition Cost | Market Value | Percent of Net Assets | ||||||||||
Series 2017-C03, Class 1M2C, 3.092% (1-Month USD-LIBOR + 3.000%) due 10/25/29 | 2/16/2021 | 5,091,552 | 5,117,354 | 0.41 | % | |||||||||
Series 2017-C03, Class 1X1, 2.300% due 10/25/29 | 2/16/2021 | 181,485 | 179,701 | 0.01 | % | |||||||||
Series 2017-C05, Class 1M2, 2.292% (1-Month USD-LIBOR + 2.200%) due 1/25/30 | 9/13/2019 | 4,239,102 | 8,787,458 | 0.71 | % | |||||||||
Series 2017-C06, Class 2B1, 4.542% (1-Month USD-LIBOR + 4.450%) due 2/25/30 | 4/20/2021 | 3,755,250 | 3,764,273 | 0.30 | % | |||||||||
Series 2017-C07, Class 1M2, 2.492% (1-Month USD-LIBOR + 2.400%) due 5/25/30 | 8/3/2020 | 2,199,720 | 2,594,069 | 0.21 | % | |||||||||
Series 2017-C07, Class 2M2B, 2.592% (1-Month USD-LIBOR + 2.500%) due 5/25/30 | 4/20/2021 | 2,258,180 | 2,232,096 | 0.18 | % | |||||||||
Series 2018-C01, Class 1ED5, 2.342% (1-Month USD-LIBOR + 2.250%) due 7/25/30 | 1/25/2021 | 16,072,145 | 15,711,721 | 1.27 | % | |||||||||
Series 2018-C01, Class 1M2, 2.342% (1-Month USD-LIBOR + 2.250%) due 7/25/30 | 9/11/2019 | 849,450 | 11,612,482 | 0.94 | % | |||||||||
Series 2018-C03, Class 1B1, 3.842% (1-Month USD-LIBOR + 3.750%) due 10/25/30 | 4/7/2021 | 3,599,409 | 3,644,705 | 0.29 | % | |||||||||
Series 2018-C03, Class 1M2, 2.242% (1-Month USD-LIBOR + 2.150%) due 10/25/30 | 12/18/2019 | 11,086,797 | 7,417,182 | 0.60 | % | |||||||||
Series 2018-C05, Class 1B1, 4.342% (1-Month USD-LIBOR + 4.250%) due 1/25/31 | 10/22/2020 | 1,499,569 | 6,779,652 | 0.55 | % | |||||||||
Freddie Mac Structured Agency Credit Risk Debt Notes: | ||||||||||||||
Series 2016-DNA1, Class M3, 5.642% (1-Month USD-LIBOR + 5.550%) due 7/25/28 | 6/9/2020 | 7,088,847 | 7,195,410 | 0.58 | % | |||||||||
Series 2016-HQA1, Class M3, 6.442% (1-Month USD-LIBOR + 6.350%) due 9/25/28 | 3/6/2020 | 2,934,641 | 5,470,050 | 0.44 | % | |||||||||
Series 2017-DNA2, Class B1, 5.242% (1-Month USD-LIBOR + 5.150%) due 10/25/29 | 11/9/2020 | 1,238,884 | 7,583,609 | 0.61 | % | |||||||||
Series 2017-DNA2, Class M2, 3.542% (1-Month USD-LIBOR + 3.450%) due 10/25/29 | 3/9/2020 | 2,041,353 | 5,144,669 | 0.42 | % | |||||||||
Series 2017-HQA1, Class M2, 3.642% (1-Month USD-LIBOR + 3.550%) due 8/25/29 | 9/9/2019 | 4,467,906 | 9,759,507 | 0.79 | % | |||||||||
Series 2017-HQA1, Class M2B, 3.642% (1-Month USD-LIBOR + 3.550%) due 8/25/29 | 8/4/2020 | 2,913,183 | 3,104,971 | 0.25 | % | |||||||||
Series 2017-HQA2, Class M2, 2.742% (1-Month USD-LIBOR + 2.650%) due 12/25/29 | 11/18/2019 | 6,234,469 | 9,390,014 | 0.76 | % | |||||||||
Series 2017-HQA3, Class B1, 4.542% (1-Month USD-LIBOR + 4.450%) due 4/25/30 | 4/29/2021 | 4,504,500 | 4,508,087 | 0.37 | % | |||||||||
$ | 215,766,058 | 17.45 | % |
Abbreviations used in this schedule: | ||
ABS | — | Asset-Based Security |
ADR | — | American Depositary Receipts |
CLO | — | Collateralized Loan Obligation |
LIBOR | — | London Interbank Offered Rate |
LLC | — | Limited Liability Company |
PLC | — | Public Limited Company |
SPDR | — | Standard & Poor's Depository Receipts |
SPACs | — | Special Purpose Acquisition Companies |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Multi Strategy Alternatives Fund (continued)
Summary of Investments by Security Type^ |
Common Stocks | 32.3 | % | ||
Collateralized Mortgage Obligations | 21.6 | |||
Open-End Fund | 18.6 | |||
Asset-Backed Securities | 11.7 | |||
Corporate Bonds & Notes | 7.8 | |||
Preferred Stocks | 1.1 | |||
Closed-End Fund | 0.5 | |||
Warrants | 0.2 | |||
Purchased Swaption | 0.2 | |||
Short-Term Investments | 4.4 | |||
Money Market Fund | 1.6 | |||
100.0 | % |
^ As a percentage of total investments.
Schedule of Options Contracts Written
Interest Rate Swaptions
Number of Contracts | Notional Amount | Security Name | Counterparty | Expiration Date | Exercise Rate | Value | ||||||||||||
90,000,000 | 117,000 | 10-Year Constant Maturity Swap, 3-Month USD-LIBOR, Call | MSCS | 5/22/23 | $ | 3.25 | $ | 835,729 | ||||||||||
TOTAL SWAPTION CONTRACTS WRITTEN | $ | 835,729 |
At May 28, 2021, Destinations Multi Strategy Alternatives Fund held the following OTC and Centrally Cleared Credit Default Swap Contracts:
OTC Credit Default Swaps on Corporate and Sovereign Issues - Sell Protection (1)
Reference Obligation* | Fixed Deal Receive Rate | Maturity Date | Payment Frequency | Counterparty | Implied Credit Spread at 5/28/21(2) | Notional Amounts in (000’s) (3) | Market Value | Upfront Premiums Paid/(Received) | Unrealized Appreciation | |||||||||||||||||
CDX.NA.IG.29 | 1.000% | 12/20/22 | 3-Month | GSC | 0.151% | USD | 100,000 | $ | 1,793,020 | $ | 1,440,000 | $ | 353,020 | |||||||||||||
CDX.NA.IG.31 | 1.000% | 12/20/23 | 3-Month | GSC | 0.955% | USD | 30,000 | 93,896 | (1,956,000 | ) | 2,049,896 | |||||||||||||||
CDX.NA.IG.33 | 1.000% | 12/20/24 | 3-Month | MSCS | 1.666% | USD | 40,000 | (785,955 | ) | (6,462,000 | ) | 5,676,045 | ||||||||||||||
CDX.NA.HY.35 | 5.000% | 12/20/25 | 3-Month | MSCS | 3.539% | USD | 10,000 | 739,006 | 405,000 | 334,006 | ||||||||||||||||
CDX.NA.IG.35 | 1.000% | 12/20/25 | 3-Month | GSC | 1.773% | USD | 10,000 | (300,818 | ) | (905,000 | ) | 604,182 | ||||||||||||||
$ | 1,539,149 | $ | (7,478,000 | ) | $ | 9,017,149 |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Multi Strategy Alternatives Fund (continued)
(1) If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.
(2) Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues or sovereign issues of on emerging country as of period end serve as indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. A credit spread identified as “Defaulted” indicates a credit event has occurred for the referenced entity or obligation.
(3) The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.
* Fund will pay or receive the volatility of the reference asset depending on whether the realized volatility of the reference asset exceeds or is less than the fixed rate. For contracts where the Fund has elected to receive the volatility of the reference asset, it will receive a net payment of the difference between the realized volatility and the fixed rate multiplied by the notional amount if the realized volatility exceeds the fixed rate; the Fund will make a net payment of the absolute value of the difference of the realized volatility and the fixed rate multiplied by the notional amount if the realized volatility is less than the fixed rate. For contracts where the Fund has elected to pay the volatility of the reference asset, it will make a net payment of the difference between the realized volatility and the fixed rate multiplied by the notional amount if the realized volatility exceeds the fixed rate; the Fund will receive a net payment of the absolute value of the difference of the realized and the fixed rate multiplied by the notional amount if the realized volatility is less than the fixed rate.
Counterparty Abbreviations used in this schedule: | ||
GSC | — | Goldman Sachs & Co. |
MSCS | — | Morgan Stanley Capital Services LLC |
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Multi Strategy Alternatives Fund (concluded)
Shares/Units | Security | Value | |||
SECURITIES SOLD SHORT - 13.1% | |||||
EXCHANGE TRADED FUNDS (ETFs) - 9.8% | |||||
119,539 | ARK Genomic Revolution | $ | 9,772,313 | ||
82,618 | iShares Nasdaq Biotechnology | 12,553,805 | |||
685,436 | SPDR S&P Biotech | 87,804,351 | |||
158,004 | SPDR S&P Regional Banking | 11,169,303 | |||
Total Exchange Traded Funds (ETFs) | 121,299,772 | ||||
TOTAL EXCHANGE TRADED FUNDS (ETFs) (Proceeds - $119,161,460) | 121,299,772 | ||||
COMMON STOCKS - 3.3% | |||||
COMMUNICATIONS - 1.7% | |||||
Media - 1.7% | |||||
3,261,506 | Sirius XM Holdings Inc. | 20,384,412 | |||
Telecommunications - 0.0% | |||||
14,544 | Cincinnati Bell Inc.* | 223,978 | |||
TOTAL COMMUNICATIONS | 20,608,390 | ||||
CONSUMER CYCLICAL - 0.5% | |||||
Entertainment - 0.5% | |||||
71,781 | Live Nation Entertainment Inc.* | 6,468,186 | |||
CONSUMER NON-CYCLICAL - 0.7% | |||||
Pharmaceuticals - 0.7% | |||||
145,723 | AstraZeneca PLC, ADR | 8,272,695 | |||
5,938 | Herbalife Nutrition Ltd.* | 312,161 | |||
Total Pharmaceuticals | 8,584,856 | ||||
TOTAL CONSUMER NON-CYCLICAL | 8,584,856 | ||||
TECHNOLOGY - 0.4% | |||||
Software - 0.4% | |||||
20,908 | salesforce.com Inc.* | 4,978,195 | |||
TOTAL COMMON STOCKS (Proceeds - $38,938,805) | 40,639,627 | ||||
TOTAL SECURITIES SOLD SHORT - 13.1% (Proceeds - $158,100,265) | 161,939,399 |
# May 28, 2021 represents the last business day of the Fund’s fiscal first quarter.
* Non-income producing security.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - 87.6% | ||||||||||
Alabama - 2.0% | ||||||||||
$ | 6,000,000 | AA | Alabama Public School & College Authority, Revenue Bonds, Series A, 5.000% due 11/1/31 | $ | 8,101,536 | |||||
2,000,000 | AA- | Auburn University, Revenue Bonds, Series A, 5.000% due 6/1/35 | 2,506,237 | |||||||
2,540,000 | A2(a) | Lower Alabama Gas District, Revenue Bonds, 4.000% due 12/1/50(b) | 2,889,448 | |||||||
Mobile County Board of School Commissioners, Special Tax: | ||||||||||
260,000 | A- | 5.000% due 3/1/28 | 310,356 | |||||||
175,000 | A- | 5.000% due 3/1/29 | 208,271 | |||||||
180,000 | A- | 5.000% due 3/1/30 | 214,100 | |||||||
185,000 | A- | 5.000% due 3/1/31 | 219,921 | |||||||
145,000 | A- | 5.000% due 3/1/32 | 172,340 | |||||||
215,000 | A- | 5.000% due 3/1/33 | 255,625 | |||||||
3,500,000 | A1(a) | Southeast Alabama Gas Supply District, Revenue Bonds, Series A, 4.000% due 6/1/49(b) | 3,845,803 | |||||||
Total Alabama | 18,723,637 | |||||||||
Alaska - 0.2% | ||||||||||
1,000,000 | AA+ | Alaska Housing Finance Corp., Revenue Bonds, Series A, 5.000% due 6/1/30 | 1,227,026 | |||||||
215,000 | AA- | State of Alaska, GO, Series A, 5.000% due 8/1/33 | 251,353 | |||||||
Total Alaska | 1,478,379 | |||||||||
Arizona - 3.7% | ||||||||||
Arizona Department of Transportation State Highway Fund Revenue, Revenue Bonds: | ||||||||||
5,000,000 | AA+ | 5.000% due 7/1/27 | 6,097,940 | |||||||
3,810,000 | AA+ | 5.000% due 7/1/34 | 4,591,495 | |||||||
2,000,000 | AA | Arizona State University, Revenue Bonds, Series A, 5.000% due 7/1/39 | 2,565,896 | |||||||
1,800,000 | A+ | Chandler Industrial Development Authority, Revenue Bonds, 5.000% due 6/1/49(b)(c) | 2,038,069 | |||||||
65,000 | AA | City of Glendale AZ, GO, AGM-Insured, 4.000% due 7/1/21 | 65,203 | |||||||
City of Glendale AZ, Revenue Bonds, AGM: | ||||||||||
105,000 | AA | Series A, 5.000% due 7/1/23 | 115,011 | |||||||
230,000 | AA | Series A, 5.000% due 7/1/27 | 269,021 | |||||||
215,000 | AA | Series A, 5.000% due 7/1/28 | 250,721 | |||||||
235,000 | AA | Series A, 5.000% due 7/1/29 | 273,325 | |||||||
85,000 | AA | Series A, 5.000% due 7/1/32 | 103,922 | |||||||
City of Glendale AZ Transportation Excise Tax Revenue, Revenue Bonds, AGM: | ||||||||||
55,000 | AA | 5.000% due 7/1/24 | 62,916 | |||||||
105,000 | AA | 5.000% due 7/1/26 | 123,601 | |||||||
City of Phoenix Civic Improvement Corp., Revenue Bonds: | ||||||||||
65,000 | A+ | Series A, 5.000% due 7/1/27(c) | 80,950 | |||||||
90,000 | A+ | Series A, 5.000% due 7/1/28(c) | 111,183 | |||||||
6,365,000 | AAA | Series B, 4.000% due 7/1/29 | 7,016,574 | |||||||
30,000 | AAA | Series C, 5.000% due 7/1/21 | 30,119 | |||||||
1,000,000 | AAA | City of Scottsdale AZ, GO, 5.000% due 7/1/23 | 1,101,060 | |||||||
160,000 | A+ | Coconino County Pollution Control Corp., Revenue Bonds, 1.875% due 9/1/32(b)(c) | 164,063 | |||||||
County of Pima AZ Sewer System Revenue, Revenue Bonds: | ||||||||||
15,000 | AA | Series A, 5.000% due 7/1/22 | 15,785 | |||||||
30,000 | AA | Series A, 5.000% due 7/1/23 | 31,571 | |||||||
60,000 | AA | Series B, Prerefunded 7/1/21 @ 100, 5.000% due 7/1/25(d) | 60,238 | |||||||
820,000 | AAA | Maricopa County Community College District, GO, Series D, 4.250% due 7/1/25 | 822,760 | |||||||
Maricopa County Industrial Development Authority, Revenue Bonds: | ||||||||||
800,000 | AA- | 5.000% due 1/1/46(b) | 969,759 | |||||||
200,000 | A2(a) | 5.000% due 7/1/47 | 248,700 | |||||||
190,000 | AA- | Series A, 4.000% due 1/1/24 | 208,072 | |||||||
70,000 | AA- | Series A, 5.000% due 1/1/22 | 71,972 | |||||||
145,000 | AA- | Series A, 5.000% due 1/1/23 | 156,055 | |||||||
60,000 | AA- | Series A, 5.000% due 1/1/24 | 67,248 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
Arizona - 3.7% - (continued) | ||||||||||
$ | 225,000 | AA- | Series A, 5.000% due 1/1/25 | $ | 261,613 | |||||
735,000 | A2(a) | Series B, 5.000% due 9/1/45(b) | 849,035 | |||||||
430,000 | AA- | Series B, 5.000% due 1/1/48(b) | 457,703 | |||||||
290,000 | AA- | Series C, 5.000% due 1/1/48(b) | 335,128 | |||||||
50,000 | AA- | McAllister Academic Village LLC, Revenue Bonds, 5.000% due 7/1/21 | 50,196 | |||||||
Salt River Project Agricultural Improvement & Power District, Revenue Bonds: | ||||||||||
2,000,000 | AA+ | Series A, 5.000% due 1/1/29 | 2,567,353 | |||||||
145,000 | AA+ | Series A, 5.000% due 1/1/33 | 181,689 | |||||||
State of Arizona, COP: | ||||||||||
215,000 | AA- | Series A, 5.000% due 10/1/21 | 218,486 | |||||||
225,000 | AA- | Series A, 5.000% due 10/1/22 | 239,726 | |||||||
300,000 | AA- | Series A, 5.000% due 10/1/23 | 333,310 | |||||||
310,000 | AA- | Series A, 5.000% due 10/1/24 | 357,751 | |||||||
560,000 | AA- | Western Maricopa Education Center District No 402, GO, Series B, 4.000% due 7/1/21 | 561,743 | |||||||
Total Arizona | 34,126,962 | |||||||||
Arkansas - 0.0% | ||||||||||
90,000 | Aa2(a) | Little Rock School District, GO, 3.000% due 2/1/22 | 91,711 | |||||||
California - 5.8% | ||||||||||
60,000 | A- | Alameda Corridor Transportation Authority, Revenue Bonds, Series A, 5.000% due 10/1/23 | 66,439 | |||||||
Bay Area Toll Authority, Revenue Bonds: | ||||||||||
210,000 | AA | Series B, 2.850% due 4/1/47(b) | 227,118 | |||||||
195,000 | AA | Series C, 2.100% due 4/1/45(b) | 196,256 | |||||||
California Health Facilities Financing Authority, Revenue Bonds: | ||||||||||
115,000 | AA- | Series A, 5.000% due 7/1/25 | 126,647 | |||||||
85,000 | A | Series D, Prerefunded 8/15/21 @ 100, 5.000% due 8/15/35(d) | 85,844 | |||||||
California State Public Works Board, Revenue Bonds: | ||||||||||
60,000 | A+ | Series A, 5.000% due 4/1/22 | 62,438 | |||||||
145,000 | A+ | Series A, 5.000% due 4/1/23 | 150,812 | |||||||
3,000,000 | A+ | Series A, 5.000% due 2/1/28 | 3,724,240 | |||||||
3,000,000 | A+ | Series A, 5.000% due 2/1/29 | 3,794,211 | |||||||
115,000 | A+ | Series A, 5.250% due 10/1/24 | 116,937 | |||||||
115,000 | A+ | Series A, 5.250% due 10/1/25 | 116,937 | |||||||
70,000 | A+ | Series D, 5.000% due 12/1/21 | 71,687 | |||||||
30,000 | A+ | Series G, 5.000% due 11/1/23 | 32,049 | |||||||
30,000 | A+ | Series G, 5.000% due 11/1/24 | 32,045 | |||||||
3,000,000 | AA- | City of Riverside CA Sewer Revenue, Revenue Bonds, Series A, 5.000% due 8/1/36 | 3,801,642 | |||||||
Golden State Tobacco Securitization Corp., Revenue Bonds: | ||||||||||
175,000 | A+ | Series A, AMBAC, zero coupon, due 6/1/24 | 172,289 | |||||||
145,000 | A+ | Series A, 5.000% due 6/1/29 | 157,801 | |||||||
115,000 | A | Series A1, 5.000% due 6/1/25 | 134,881 | |||||||
30,000 | BBB | Series A1, 5.000% due 6/1/26 | 36,264 | |||||||
290,000 | AA- | Los Angeles Department of Water & Power Power System Revenue, Revenue Bonds, Series A, 5.000% due 7/1/29 | 336,628 | |||||||
1,500,000 | Aa3(a) | Los Angeles Unified School District, GO, Series A, 5.000% due 7/1/27 | 1,889,356 | |||||||
Modesto Irrigation District, Revenue Bonds: | ||||||||||
30,000 | A+ | Series A, 5.000% due 7/1/22 | 30,118 | |||||||
110,000 | A+ | Series A, 5.000% due 7/1/23 | 110,434 | |||||||
170,000 | Aa3(a) | Oakland Alameda County Coliseum Authority, Revenue Bonds, Series A, 5.000% due 2/1/23 | 174,727 | |||||||
Oakland Unified School District, GO: | ||||||||||
100,000 | AA | AGM, 5.000% due 8/1/26 | 118,274 | |||||||
30,000 | A- | Series A, 5.000% due 8/1/28 | 35,298 | |||||||
1,500,000 | AA+ | Ohlone Community College District, GO, Series A, Prerefunded 8/1/21 @ 100, 5.000% due 8/1/38(d) | 1,512,166 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
California - 5.8% - (continued) | ||||||||||
$ | 145,000 | A+ | Port of Oakland, Revenue Bonds, Series P, 5.000% due 5/1/22(c) | $ | 151,032 | |||||
90,000 | A | Sacramento City Financing Authority, Special Tax, Series A, NPFG, zero coupon, due 12/1/26 | 84,674 | |||||||
255,000 | AA- | San Diego Convention Center Expansion Financing Authority, Revenue Bonds, Series A, Prerefunded 4/15/22 @ 100, 5.000% due 4/15/23(d) | 265,833 | |||||||
San Diego County Regional Transportation Commission, Revenue Bonds: | ||||||||||
600,000 | AA | Series B, 5.000% due 4/1/34 | 811,035 | |||||||
250,000 | AA | Series B, 5.000% due 4/1/35 | 337,241 | |||||||
300,000 | AA | Series B, 5.000% due 4/1/36 | 403,220 | |||||||
400,000 | AA | Series B, 5.000% due 4/1/37 | 535,897 | |||||||
500,000 | AA | Series B, 5.000% due 4/1/38 | 666,978 | |||||||
500,000 | AA | Series B, 5.000% due 4/1/39 | 665,179 | |||||||
515,000 | AA | Series B, 5.000% due 4/1/40 | 683,748 | |||||||
3,615,000 | AA | San Dieguito Union High School District, GO, Series E, 3.000% due 8/1/38 | 3,988,814 | |||||||
185,000 | A | San Francisco City & County Airport Comm-San Francisco International Airport, Revenue Bonds, Series A, 5.000% due 5/1/37(c) | 231,589 | |||||||
State of California, GO: | ||||||||||
760,000 | AA- | 4.000% due 3/1/26 | 886,632 | |||||||
3,125,000 | AA- | 4.000% due 12/1/30(b) | 3,125,000 | |||||||
3,000,000 | AA- | 5.000% due 12/1/27 | 3,817,857 | |||||||
80,000 | AA- | 5.000% due 9/1/29 | 97,998 | |||||||
1,000,000 | AA- | 5.000% due 4/1/30 | 1,334,050 | |||||||
760,000 | AA- | 5.000% due 8/1/30 | 951,052 | |||||||
3,310,000 | AA- | 5.000% due 9/1/30 | 4,401,066 | |||||||
3,125,000 | AA- | 5.000% due 9/1/31 | 4,236,732 | |||||||
3,000,000 | AA- | 5.000% due 11/1/31 | 4,044,396 | |||||||
3,000,000 | AA- | 5.000% due 4/1/36 | 3,881,626 | |||||||
435,000 | AA- | Series B, 5.000% due 8/1/26 | 534,809 | |||||||
205,000 | AA- | Series C, 5.000% due 8/1/29 | 250,512 | |||||||
65,000 | AAA | State of California Department of Water Resources, Revenue Bonds, Series AI, Prerefunded 12/1/21 @ 100, 5.000% due 12/1/25(d) | 66,599 | |||||||
100,000 | A1(a) | Washington Township Health Care District, GO, Series A, 5.500% due 8/1/40 | 112,833 | |||||||
230,000 | AA- | West Contra Costa Unified School District, GO, 5.000% due 8/1/26 | 242,510 | |||||||
Total California | 54,122,450 | |||||||||
Colorado - 2.2% | ||||||||||
City & County of Denver CO Airport System Revenue, Revenue Bonds: | ||||||||||
65,000 | A+ | Series A, 5.000% due 11/15/24(c) | 74,926 | |||||||
315,000 | A | Series A, 5.000% due 12/1/26(c) | 384,445 | |||||||
30,000 | A+ | Series A, 5.000% due 11/15/27(c) | 37,490 | |||||||
195,000 | A+ | Series A, 5.000% due 11/15/28(c) | 242,589 | |||||||
145,000 | A+ | Series A, 5.000% due 11/15/29(c) | 180,331 | |||||||
115,000 | A+ | Series A, 5.000% due 11/15/30(c) | 142,714 | |||||||
915,000 | A+ | Series C, 5.000% due 11/15/30 | 1,196,399 | |||||||
Colorado Health Facilities Authority, Revenue Bonds: | ||||||||||
655,000 | Aaa(a) | zero coupon, due 7/15/22 | 653,317 | |||||||
215,000 | A- | 2.800% due 5/15/42(b) | 222,417 | |||||||
2,115,000 | AA | 5.000% due 11/15/36(b) | 2,362,497 | |||||||
190,000 | Baa1(a) | 5.000% due 9/1/46 | 218,575 | |||||||
640,000 | AA | 5.000% due 11/15/49(b) | 786,919 | |||||||
500,000 | BBB+ | Series A, 5.000% due 8/1/44 | 617,792 | |||||||
325,000 | BBB+ | Series B-2, 5.000% due 8/1/49(b) | 389,654 | |||||||
220,000 | BBB+ | Series D3, 5.000% due 10/1/38(b) | 224,549 | |||||||
100,000 | AA | Colorado Housing & Finance Authority, Revenue Bonds, Series H, 4.250% due 11/1/49 | 112,215 | |||||||
E-470 Public Highway Authority, Revenue Bonds: | ||||||||||
60,000 | A | zero coupon, due 9/1/35 | 44,524 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
Colorado - 2.2% - (continued) | ||||||||||
$ | 85,000 | A | zero coupon, due 9/1/37 | $ | 59,279 | |||||
110,000 | A | zero coupon, due 9/1/38 | 74,365 | |||||||
1,500,000 | AAA | Metro Wastewater Reclamation District, Revenue Bonds, Series A, Prerefunded 4/1/22 @ 100, 4.000% due 4/1/30(d) | 1,548,809 | |||||||
Pueblo County School District No 70, GO: | ||||||||||
1,000,000 | AA | Series A, 4.000% due 12/1/29 | 1,245,177 | |||||||
1,945,000 | AA | Series A, 4.000% due 12/1/30 | 2,458,154 | |||||||
2,000,000 | AA+ | Regional Transportation District Sales Tax Revenue, Revenue Bonds, 0.900% due 11/1/26 | 1,976,863 | |||||||
2,250,000 | AA- | State of Colorado, COP, Series A, 4.000% due 12/15/36 | 2,666,260 | |||||||
1,435,000 | Aa1(a) | University of Colorado, Revenue Bonds, Series C, 2.000% due 6/1/54(b) | 1,508,819 | |||||||
210,000 | AA | University of Colorado Hospital Authority, Revenue Bonds, Series C, 5.000% due 11/15/38(b) | 212,495 | |||||||
Vauxmont Metropolitan District, GO, AGM: | ||||||||||
150,000 | AA | 5.000% due 12/1/21 | 153,361 | |||||||
125,000 | AA | 5.000% due 12/15/27 | 146,846 | |||||||
120,000 | AA | 5.000% due 12/15/29 | 140,112 | |||||||
135,000 | AA | 5.000% due 12/15/31 | 156,934 | |||||||
285,000 | AA | 5.000% due 12/1/34 | 364,711 | |||||||
Total Colorado | 20,603,538 | |||||||||
Connecticut - 2.2% | ||||||||||
Connecticut State Health & Educational Facilities Authority, Revenue Bonds: | ||||||||||
1,075,000 | AAA | Series 2017 B1, 5.000% due 7/1/29 | 1,416,903 | |||||||
410,000 | A | Series A, 5.000% due 7/1/34 | 515,171 | |||||||
505,000 | AA- | Series B, 1.800% due 7/1/49(b) | 523,831 | |||||||
65,000 | A- | Series S, 5.000% due 7/1/26 | 78,333 | |||||||
30,000 | A- | Series S, 5.000% due 7/1/29 | 37,626 | |||||||
4,465,000 | AAA | Series V1, 0.010% due 7/1/36(b) | 4,465,000 | |||||||
State of Connecticut, GO: | ||||||||||
2,100,000 | A+ | 5.000% due 7/15/25 | 2,464,384 | |||||||
90,000 | A+ | Series A, 5.000% due 3/15/26 | 109,021 | |||||||
375,000 | A+ | Series A, 5.000% due 4/15/26 | 455,438 | |||||||
150,000 | A+ | Series A, 5.000% due 4/15/30 | 194,417 | |||||||
170,000 | A+ | Series A, 5.000% due 4/15/34 | 217,366 | |||||||
60,000 | A+ | Series A, 5.000% due 4/15/35 | 76,592 | |||||||
175,000 | A+ | Series B, 5.000% due 1/15/26 | 210,868 | |||||||
85,000 | A+ | Series E, 5.000% due 9/15/23 | 90,265 | |||||||
100,000 | A+ | Series E, 5.000% due 10/15/26 | 123,285 | |||||||
150,000 | A+ | Series E, 5.000% due 10/15/29 | 183,301 | |||||||
1,600,000 | A+ | Series F, 5.000% due 9/15/26 | 1,967,752 | |||||||
State of Connecticut Special Tax Revenue, Revenue Bonds: | ||||||||||
2,250,000 | AA- | Series C, 5.000% due 1/1/30 | 2,892,598 | |||||||
1,500,000 | AA- | Series C, 5.000% due 1/1/32 | 1,995,831 | |||||||
1,500,000 | AAA | Town of Greenwich CT, GO, 5.000% due 1/15/23 | 1,618,918 | |||||||
330,000 | A+ | University of Connecticut, Revenue Bonds, Series A, 5.000% due 11/1/27 | 415,531 | |||||||
Total Connecticut | 20,052,431 | |||||||||
Delaware - 0.4% | ||||||||||
Delaware River & Bay Authority, Revenue Bonds: | ||||||||||
85,000 | A | Series C, 5.000% due 1/1/22 | 87,374 | |||||||
35,000 | A | Series C, 5.000% due 1/1/24 | 39,084 | |||||||
80,000 | A | Series C, 5.000% due 1/1/25 | 89,290 | |||||||
220,000 | A | Delaware State Economic Development Authority, Revenue Bonds, 1.050% due 1/1/31(b) | 224,468 | |||||||
3,160,000 | NR | State of Delaware, GO, Series B, Prerefunded 7/1/24 @ 100, 5.000% due 7/1/27(d) | 3,609,825 | |||||||
Total Delaware | 4,050,041 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
District of Columbia - 0.9% | ||||||||||
$ | 2,000,000 | AA+ | District of Columbia, GO, Series C, 5.000% due 6/1/34 | $ | 2,260,909 | |||||
District of Columbia, Revenue Bonds: | ||||||||||
80,000 | AAA | Series A, 5.000% due 12/1/36 | 81,845 | |||||||
40,000 | NR | Series A, Prerefunded 12/01/21 @ 100, 5.000% due 12/1/36(d) | 40,970 | |||||||
Metropolitan Washington Airports Authority, Revenue Bonds: | ||||||||||
90,000 | A+ | Series A, 5.000% due 10/1/21(c) | 91,429 | |||||||
50,000 | A+ | Series A, 5.000% due 10/1/22(c) | 53,182 | |||||||
75,000 | A+ | Series A, 5.000% due 10/1/23(c) | 83,197 | |||||||
2,625,000 | A+ | Series A, 5.000% due 10/1/24(c) | 3,018,954 | |||||||
115,000 | A+ | Series A, 5.000% due 10/1/28(c) | 147,433 | |||||||
120,000 | A+ | Series A, 5.000% due 10/1/29(c) | 154,368 | |||||||
95,000 | A+ | Series A, 5.000% due 10/1/30(c) | 122,098 | |||||||
205,000 | A+ | Series A, 5.000% due 10/1/31(c) | 260,301 | |||||||
60,000 | A+ | Series A, 5.000% due 10/1/34(c) | 74,351 | |||||||
55,000 | A+ | Series A, 5.000% due 10/1/36(c) | 67,983 | |||||||
195,000 | A+ | Series C, 5.000% due 10/1/22(c) | 198,086 | |||||||
210,000 | A+ | Series C, 5.000% due 10/1/23(c) | 213,362 | |||||||
190,000 | A+ | Series C, 5.000% due 10/1/24(c) | 193,016 | |||||||
255,000 | A+ | Series C, 5.000% due 10/1/25(c) | 259,048 | |||||||
400,000 | A- | Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Revenue Bonds, 4.000% due 10/1/35 | 471,244 | |||||||
240,000 | AA- | Washington Metropolitan Area Transit Authority, Revenue Bonds, Series B, 5.000% due 7/1/34 | 294,348 | |||||||
Total District of Columbia | 8,086,124 | |||||||||
Florida - 4.4% | ||||||||||
Brevard County School District, COP: | ||||||||||
95,000 | Aa3(a) | 5.000% due 7/1/27 | 108,139 | |||||||
215,000 | Aa3(a) | 5.000% due 7/1/30 | 244,310 | |||||||
85,000 | Aa3(a) | Series C, 5.000% due 7/1/24 | 96,364 | |||||||
Citizens Property Insurance Inc., Revenue Bonds: | ||||||||||
80,000 | A+ | Series A1, 5.000% due 6/1/21 | 80,000 | |||||||
60,000 | A+ | Series A1, 5.000% due 6/1/22 | 62,933 | |||||||
City of Clearwater FL Water & Sewer Revenue, Revenue Bonds: | ||||||||||
40,000 | AA+ | 5.000% due 12/1/21 | 40,977 | |||||||
65,000 | AA+ | Series Prerefunded 12/1/21 @ 100, 5.000% due 12/1/23(d) | 66,593 | |||||||
70,000 | AA+ | Series Prerefunded 12/1/21 @ 100, 5.000% due 12/1/24(d) | 71,715 | |||||||
City of Jacksonville FL, Revenue Bonds: | ||||||||||
115,000 | A+ | 5.000% due 10/1/22 | 122,335 | |||||||
155,000 | A+ | 5.000% due 10/1/23 | 165,037 | |||||||
55,000 | A+ | City of Tampa FL, Revenue Bonds, 5.000% due 9/1/28 | 57,730 | |||||||
County of Broward FL Airport System Revenue, Revenue Bonds: | ||||||||||
60,000 | A | 5.000% due 10/1/30(c) | 74,226 | |||||||
90,000 | A | 5.000% due 10/1/31(c) | 111,008 | |||||||
120,000 | A | Series A, 5.000% due 10/1/29(c) | 140,878 | |||||||
85,000 | A | Series A, 5.000% due 10/1/31(c) | 99,157 | |||||||
115,000 | A | Series A, 5.000% due 10/1/32(c) | 133,889 | |||||||
1,000,000 | A | Series B, 5.000% due 10/1/29(c) | 1,294,273 | |||||||
90,000 | A | Series Q1, 5.000% due 10/1/23 | 95,740 | |||||||
County of Hillsborough FL Solid Waste & Resource Recovery Revenue, Revenue Bonds: | ||||||||||
40,000 | AA+ | Series A, 5.000% due 9/1/21(c) | 40,466 | |||||||
50,000 | AA+ | Series A, 5.000% due 9/1/22(c) | 52,830 | |||||||
60,000 | AA+ | Series A, 5.000% due 9/1/23(c) | 65,966 | |||||||
65,000 | AA+ | Series A, 5.000% due 9/1/24(c) | 73,927 | |||||||
65,000 | AA+ | Series A, 5.000% due 9/1/26(c) | 78,429 | |||||||
120,000 | AA | County of Miami-Dade FL, GO, Series A, 5.000% due 11/1/23 | 133,710 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
Florida - 4.4% - (continued) | ||||||||||
County of Miami-Dade FL, Revenue Bonds: | ||||||||||
$ | 160,000 | A+ | 5.000% due 10/1/28 | $ | 196,310 | |||||
120,000 | A+ | 5.000% due 10/1/29 | 146,765 | |||||||
215,000 | A+ | 5.000% due 10/1/30 | 262,648 | |||||||
65,000 | A+ | Series A, Prerefunded 10/01/22 @ 100, 5.000% due 10/1/25(d) | 69,234 | |||||||
County of Miami-Dade FL Aviation Revenue, Revenue Bonds: | ||||||||||
175,000 | A- | Series A, 5.000% due 10/1/21(c) | 177,766 | |||||||
85,000 | A- | Series A, 5.000% due 10/1/22(c) | 90,386 | |||||||
290,000 | A- | Series A, 5.000% due 10/1/24(c) | 308,055 | |||||||
55,000 | A- | Series A, 5.000% due 10/1/27(c) | 62,783 | |||||||
80,000 | A- | Series A, 5.000% due 10/1/29(c) | 91,036 | |||||||
70,000 | A- | Series A, 5.000% due 10/1/30 | 84,658 | |||||||
30,000 | A- | Series A, 5.000% due 10/1/31 | 36,206 | |||||||
160,000 | A- | Series A, 5.000% due 10/1/33(c) | 181,224 | |||||||
70,000 | A- | Series A, 5.000% due 10/1/35(c) | 79,384 | |||||||
65,000 | A- | Series B, 5.000% due 10/1/24 | 69,146 | |||||||
215,000 | A- | Series B, 5.000% due 10/1/37 | 245,576 | |||||||
500,000 | A- | Series B, 5.000% due 10/1/40(c) | 607,904 | |||||||
County of Miami-Dade FL Transit System, Revenue Bonds: | ||||||||||
35,000 | AA | 5.000% due 7/1/21 | 35,134 | |||||||
1,500,000 | AA | Series A, 4.000% due 7/1/50 | 1,769,077 | |||||||
50,000 | AA | Series Prerefunded 7/1/22 @ 100, 5.000% due 7/1/42(d) | 52,645 | |||||||
Duval County Public Schools, COP: | ||||||||||
125,000 | A+ | Series B, 5.000% due 7/1/27 | 146,427 | |||||||
30,000 | A+ | Series B, 5.000% due 7/1/28 | 35,063 | |||||||
190,000 | A+ | Series B, 5.000% due 7/1/30 | 221,651 | |||||||
Florida Municipal Power Agency, Revenue Bonds: | ||||||||||
30,000 | A2(a) | 5.000% due 10/1/24 | 34,567 | |||||||
45,000 | A2(a) | 5.000% due 10/1/27 | 53,323 | |||||||
80,000 | A1(a) | Series A, 5.000% due 10/1/22 | 84,992 | |||||||
355,000 | A2(a) | Series A, 5.000% due 10/1/26 | 376,777 | |||||||
55,000 | A2(a) | Series A, 5.000% due 10/1/30 | 66,836 | |||||||
60,000 | A2(a) | Series A, 5.000% due 10/1/31 | 72,970 | |||||||
2,500,000 | AA | Florida's Turnpike Enterprise, Revenue Bonds, Series C, 4.375% due 7/1/37 | 2,694,546 | |||||||
Greater Orlando Aviation Authority, Revenue Bonds: | ||||||||||
100,000 | A | Series A, 5.000% due 10/1/28(c) | 123,922 | |||||||
60,000 | A | Series A, 5.000% due 10/1/30(c) | 74,226 | |||||||
Halifax Hospital Medical Center, Revenue Bonds: | ||||||||||
35,000 | A- | 5.000% due 6/1/28 | 39,838 | |||||||
70,000 | A- | 5.000% due 6/1/35 | 78,891 | |||||||
Hillsborough County Port District, Revenue Bonds: | ||||||||||
850,000 | A(e) | Series B, 5.000% due 6/1/33(c) | 1,040,389 | |||||||
185,000 | A(e) | Series B, 5.000% due 6/1/38(c) | 224,103 | |||||||
75,000 | AA- | Indian River County District School Board, COP, Series A, 5.000% due 7/1/24 | 84,732 | |||||||
200,000 | A | JEA Electric System Revenue, Revenue Bonds, Series B, 5.000% due 10/1/26 | 242,195 | |||||||
Lake County School Board, COP, AGM: | ||||||||||
30,000 | AA | Series A, Prerefunded 6/1/24 @ 100, 5.000% due 6/1/25(d) | 34,214 | |||||||
50,000 | AA | Series A, Prerefunded 6/1/24 @ 100, 5.000% due 6/1/26(d) | 57,023 | |||||||
15,000 | AA | Series A, Prerefunded 6/1/24 @ 100, 5.000% due 6/1/28(d) | 17,107 | |||||||
Lee Memorial Health System, Revenue Bonds: | ||||||||||
550,000 | A+ | Series A1, 5.000% due 4/1/33 | 698,408 | |||||||
415,000 | A+ | Series A1, 5.000% due 4/1/35 | 524,666 | |||||||
755,000 | A+ | Series A2, 5.000% due 4/1/33(b) | 889,525 | |||||||
Miami-Dade County Expressway Authority, Revenue Bonds: | ||||||||||
45,000 | A | Series A, 5.000% due 7/1/31 | 54,056 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
Florida - 4.4% - (continued) | ||||||||||
$ | 115,000 | A | Series A, 5.000% due 7/1/32 | $ | 138,018 | |||||
95,000 | A | Series A, 5.000% due 7/1/33 | 113,910 | |||||||
30,000 | A | Series A, 5.000% due 7/1/34 | 35,906 | |||||||
235,000 | A | Series A, 5.000% due 7/1/40 | 235,650 | |||||||
85,000 | A | Series A, 5.000% due 7/1/44 | 95,172 | |||||||
Orange County Health Facilities Authority, Revenue Bonds: | ||||||||||
200,000 | A+ | Series A, 5.000% due 10/1/39 | 236,227 | |||||||
365,000 | A+ | Series A, Prerefunded 4/1/22 @ 100, 5.000% due 10/1/42(d) | 379,750 | |||||||
150,000 | A+ | Series B, Prerefunded 4/1/22 @ 100, 5.000% due 10/1/42(d) | 156,062 | |||||||
Orange County School Board, COP: | ||||||||||
115,000 | Aa2(a) | Series B, Prerefunded 8/1/22 @ 100, 5.000% due 8/1/26(d) | 121,553 | |||||||
200,000 | Aa2(a) | Series C, 5.000% due 8/1/29 | 235,163 | |||||||
50,000 | AA | Orlando Utilities Commission, Revenue Bonds, Series A, 5.000% due 10/1/23 | 55,589 | |||||||
Palm Beach County Health Facilities Authority, Revenue Bonds: | ||||||||||
10,000 | WD(e) | 5.000% due 12/1/23 | 11,179 | |||||||
20,000 | WD(e) | 5.000% due 12/1/24 | 23,222 | |||||||
Palm Beach County School District, COP: | ||||||||||
55,000 | Aa3(a) | Series A, 5.000% due 8/1/22 | 58,114 | |||||||
35,000 | Aa3(a) | Series A, 5.000% due 8/1/23 | 38,591 | |||||||
40,000 | Aa3(a) | Series A, 5.000% due 8/1/24 | 45,843 | |||||||
705,000 | Aa3(a) | Series A, 5.000% due 8/1/26 | 861,116 | |||||||
300,000 | Aa3(a) | Series B, 5.000% due 8/1/26 | 355,596 | |||||||
240,000 | Aa3(a) | Series B, 5.000% due 8/1/27 | 283,605 | |||||||
160,000 | Aa3(a) | Series B, 5.000% due 8/1/28 | 188,708 | |||||||
695,000 | Aa3(a) | Series D, 5.000% due 8/1/26 | 823,798 | |||||||
315,000 | Aa3(a) | Series D, 5.000% due 8/1/27 | 372,232 | |||||||
110,000 | Aa3(a) | Series D, 5.000% due 8/1/28 | 129,737 | |||||||
250,000 | AA+ | Palm Beach County Solid Waste Authority, Revenue Bonds, 5.000% due 10/1/24 | 254,019 | |||||||
300,000 | AA | Pasco County School Board, COP, Series D, AGM-Insured, 5.000% due 8/1/30 | 403,253 | |||||||
School Board of Miami-Dade County, COP: | ||||||||||
120,000 | AA | AGM, Series A, 5.000% due 5/1/27 | 140,194 | |||||||
570,000 | A+ | Series A, 5.000% due 5/1/31 | 679,478 | |||||||
220,000 | A+ | Series B, 5.000% due 8/1/27 | 267,094 | |||||||
395,000 | A+ | Series B, 5.000% due 5/1/28 | 459,305 | |||||||
340,000 | A+ | Series D, 5.000% due 11/1/24 | 391,659 | |||||||
355,000 | A+ | Series D, 5.000% due 11/1/25 | 409,330 | |||||||
230,000 | A+ | Series D, 5.000% due 11/1/26 | 264,355 | |||||||
115,000 | A+ | Series D, 5.000% due 2/1/29 | 136,429 | |||||||
190,000 | A+ | Series D, 5.000% due 2/1/30 | 224,832 | |||||||
School District of Broward County, COP: | ||||||||||
155,000 | A+ | Series A, 5.000% due 7/1/21 | 155,615 | |||||||
145,000 | A+ | Series A, 5.000% due 7/1/22 | 152,676 | |||||||
45,000 | A+ | Series A, 5.000% due 7/1/25 | 47,256 | |||||||
460,000 | A+ | Series A, 5.000% due 7/1/26 | 526,196 | |||||||
265,000 | A+ | Series A, 5.000% due 7/1/27 | 312,769 | |||||||
115,000 | A+ | Series A, 5.000% due 7/1/28 | 135,424 | |||||||
70,000 | A+ | Series A, 5.000% due 7/1/32 | 83,819 | |||||||
120,000 | NR | Series A, Prerefunded 7/1/22 @ 100, 5.000% due 7/1/25(d) | 126,214 | |||||||
580,000 | NR | Series A, Prerefunded 7/1/22 @ 100, 5.000% due 7/1/26(d) | 610,034 | |||||||
335,000 | A+ | Series B, 5.000% due 7/1/26 | 395,983 | |||||||
230,000 | A+ | Series B, 5.000% due 7/1/27 | 271,256 | |||||||
390,000 | A+ | Series B, 5.000% due 7/1/28 | 459,610 | |||||||
Seminole County School Board, COP: | ||||||||||
60,000 | Aa3(a) | Series C, 5.000% due 7/1/23 | 65,799 | |||||||
50,000 | Aa3(a) | Series C, 5.000% due 7/1/24 | 56,932 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
Florida - 4.4% - (continued) | ||||||||||
$ | 115,000 | AA | South Florida Water Management District, COP, 5.000% due 10/1/30 | $ | 137,314 | |||||
75,000 | AA- | South Miami Health Facilities Authority, Revenue Bonds, 5.000% due 8/15/24 | 85,714 | |||||||
St Lucie County School Board, COP: | ||||||||||
60,000 | A | Series A, 5.000% due 7/1/25 | 65,641 | |||||||
125,000 | A | Series A, 5.000% due 7/1/27 | 136,534 | |||||||
State of Florida, GO: | ||||||||||
5,995,000 | AAA | 5.000% due 7/1/32 | 7,747,055 | |||||||
289,000 | AAA | Series C, 5.000% due 6/1/22 | 289,000 | |||||||
145,000 | AAA | Series E, 5.000% due 6/1/24 | 145,000 | |||||||
2,000,000 | AA+ | State of Florida Department of Transportation, Revenue Bonds, 5.000% due 7/1/27 | 2,498,833 | |||||||
Tampa Bay Water, Revenue Bonds: | ||||||||||
70,000 | AA+ | Series A, NPFG, 6.000% due 10/1/29 | 97,394 | |||||||
70,000 | AA+ | Series NPFG, 5.500% due 10/1/22 | 75,027 | |||||||
Volusia County Educational Facility Authority, Revenue Bonds: | ||||||||||
150,000 | A2(a) | 4.000% due 10/15/36 | 175,561 | |||||||
80,000 | A2(a) | 5.000% due 10/15/44 | 99,099 | |||||||
150,000 | A2(a) | 5.000% due 10/15/49 | 184,720 | |||||||
Volusia County School Board, COP: | ||||||||||
600,000 | Aa3(a) | 5.000% due 8/1/24 | 687,236 | |||||||
145,000 | AA | Series A, 5.000% due 8/1/32 | 171,728 | |||||||
Total Florida | 40,667,144 | |||||||||
Georgia - 3.5% | ||||||||||
City of Atlanta GA Water & Wastewater Revenue, Revenue Bonds: | ||||||||||
30,000 | AA- | 5.000% due 11/1/27 | 35,047 | |||||||
70,000 | AA- | 5.000% due 11/1/29 | 81,583 | |||||||
2,000,000 | AA- | 5.000% due 11/1/40 | 2,328,437 | |||||||
205,000 | Aaa(a) | Colquitt County Development Authority, Revenue Bonds, zero coupon, due 12/1/21 | 204,878 | |||||||
45,000 | A+ | County of DeKalb GA Water & Sewerage Revenue, Revenue Bonds, Series A, 5.250% due 10/1/25 | 45,738 | |||||||
Development Authority of Burke County, Revenue Bonds: | ||||||||||
600,000 | A- | 1.700% due 12/1/49(b) | 621,213 | |||||||
830,000 | A- | 2.925% due 11/1/53(b) | 885,253 | |||||||
155,000 | AA- | Fulton County Development Authority, Revenue Bonds, 5.000% due 6/15/44 | 194,060 | |||||||
Main Street Natural Gas Inc., Revenue Bonds: | ||||||||||
5,000,000 | Aa2(a) | Series A, 4.000% due 4/1/48(b) | 5,388,985 | |||||||
840,000 | Aa2(a) | Series C, 4.000% due 8/1/48(b) | 911,663 | |||||||
Municipal Electric Authority of Georgia, Revenue Bonds: | ||||||||||
160,000 | A- | Series A, 5.000% due 1/1/27 | 196,189 | |||||||
145,000 | A- | Series A, 5.000% due 1/1/30 | 183,677 | |||||||
105,000 | A | Series GG, 5.000% due 1/1/24 | 112,607 | |||||||
35,000 | A | Series GG, 5.000% due 1/1/25 | 37,449 | |||||||
145,000 | A | Series GG, 5.000% due 1/1/26 | 154,946 | |||||||
Municipal Gas Authority of Georgia, Revenue Bonds: | ||||||||||
60,000 | AA- | Series Q, 5.000% due 10/1/22 | 63,819 | |||||||
35,000 | AA- | Series S, 5.000% due 10/1/22 | 37,227 | |||||||
70,000 | AA- | Series S, 5.000% due 10/1/24 | 74,332 | |||||||
40,000 | AA- | Series U, 5.000% due 10/1/24 | 46,118 | |||||||
State of Georgia, GO: | ||||||||||
5,000,000 | AAA | Series A, 5.000% due 7/1/29 | 6,427,384 | |||||||
5,000,000 | AAA | Series A, 5.000% due 8/1/30 | 6,757,210 | |||||||
2,500,000 | AAA | Series A, 5.000% due 7/1/32 | 3,264,563 | |||||||
3,835,000 | AAA | Series C, 5.000% due 7/1/29 | 4,804,927 | |||||||
Total Georgia | 32,857,305 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
Hawaii - 0.1% | ||||||||||
City & County of Honolulu HI, GO: | ||||||||||
$ | 115,000 | Aa1(a) | Series D, 5.000% due 9/1/22 | $ | 122,031 | |||||
90,000 | Aa1(a) | Series D, 5.000% due 9/1/26 | 110,666 | |||||||
500,000 | AA+ | State of Hawaii, GO, Series FH, 5.000% due 10/1/28 | 612,784 | |||||||
Total Hawaii | 845,481 | |||||||||
Idaho - 0.4% | ||||||||||
Idaho Housing & Finance Association, Revenue Bonds: | ||||||||||
90,000 | A2(a) | 5.000% due 7/15/21 | 90,517 | |||||||
100,000 | A2(a) | 5.000% due 7/15/22 | 105,319 | |||||||
45,000 | A2(a) | 5.000% due 7/15/23 | 49,467 | |||||||
35,000 | A2(a) | 5.000% due 7/15/24 | 39,977 | |||||||
95,000 | A2(a) | 5.000% due 7/15/27 | 118,747 | |||||||
70,000 | Aa1(a) | Series A, 4.000% due 1/1/50 | 77,696 | |||||||
250,000 | A2(a) | Series A, 5.000% due 7/15/30 | 332,389 | |||||||
250,000 | A2(a) | Series A, 5.000% due 7/15/31 | 337,832 | |||||||
2,380,000 | Aa1(a) | Kootenai County School District No 271 Coeur d'Alene, GO, 4.000% due 9/15/28 | 2,813,432 | |||||||
Total Idaho | 3,965,376 | |||||||||
Illinois - 3.4% | ||||||||||
Chicago Midway International Airport, Revenue Bonds: | ||||||||||
65,000 | A- | Series A, 5.000% due 1/1/29(c) | 76,676 | |||||||
100,000 | A- | Series A, 5.000% due 1/1/30(c) | 117,991 | |||||||
70,000 | A- | Series A, 5.000% due 1/1/31(c) | 82,622 | |||||||
190,000 | A- | Series A, 5.000% due 1/1/32(c) | 209,583 | |||||||
30,000 | A- | Series B, 5.000% due 1/1/22 | 30,836 | |||||||
95,000 | A- | Series B, 5.000% due 1/1/24 | 106,267 | |||||||
Chicago O'Hare International Airport, Revenue Bonds: | ||||||||||
75,000 | BBB+ | 5.000% due 7/1/38(c) | 89,636 | |||||||
50,000 | A | Series A, 5.000% due 1/1/22 | 51,394 | |||||||
125,000 | A | Series A, 5.000% due 1/1/24(c) | 139,414 | |||||||
270,000 | A | Series A, 5.000% due 1/1/29 | 331,274 | |||||||
200,000 | A | Series A, 5.000% due 1/1/48(c) | 242,859 | |||||||
1,000,000 | A | Series A, Prerefunded 1/01/22 @ 100, 5.000% due 1/1/25(c)(d) | 1,027,418 | |||||||
200,000 | A | Series B, 5.000% due 1/1/22(c) | 205,515 | |||||||
285,000 | A | Series B, 5.000% due 1/1/32 | 329,172 | |||||||
120,000 | A | Series B, 5.000% due 1/1/53 | 146,887 | |||||||
65,000 | A | Series C, 5.000% due 1/1/22 | 66,812 | |||||||
80,000 | A | Series C, 5.000% due 1/1/23 | 85,993 | |||||||
45,000 | A | Series C, 5.000% due 1/1/24 | 50,337 | |||||||
65,000 | A | Series C, 5.000% due 1/1/25 | 75,426 | |||||||
60,000 | A | Series C, 5.000% due 1/1/26 | 71,757 | |||||||
70,000 | A | Series C, 5.000% due 1/1/33 | 83,005 | |||||||
80,000 | A | Series C, 5.000% due 1/1/34 | 94,857 | |||||||
60,000 | A | Series D, 5.000% due 1/1/27(c) | 73,387 | |||||||
15,000 | A | Series D, 5.000% due 1/1/28(c) | 18,239 | |||||||
85,000 | A | Series D, 5.000% due 1/1/31(c) | 102,251 | |||||||
45,000 | A | Series D, 5.000% due 1/1/33(c) | 54,297 | |||||||
40,000 | A | City of Chicago IL Wastewater Transmission Revenue, Revenue Bonds, 5.000% due 1/1/23 | 41,097 | |||||||
30,000 | AA | City of Chicago IL Waterworks Revenue, Revenue Bonds, AGM-Insured, 5.250% due 11/1/33 | 30,098 | |||||||
Cook County Forest Preserve District, GO: | ||||||||||
30,000 | AA- | Series B, 5.000% due 12/15/23 | 31,466 | |||||||
40,000 | AA- | Series B, 5.000% due 12/15/24 | 41,962 | |||||||
60,000 | AA- | Series C, 5.000% due 12/15/25 | 62,937 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
Illinois - 3.4% - (continued) | ||||||||||
$ | 155,000 | Aaa(a) | Cook Kane Lake & McHenry Counties Community College District No 512, GO, Series B, 5.000% due 12/1/24 | $ | 179,000 | |||||
County of Cook IL, GO: | ||||||||||
45,000 | A+ | Series A, 5.250% due 11/15/24 | 46,007 | |||||||
60,000 | A+ | Series C, 5.000% due 11/15/22 | 64,210 | |||||||
145,000 | A+ | Series C, 5.000% due 11/15/23 | 154,929 | |||||||
540,000 | A+ | Series C, 5.000% due 11/15/24 | 576,432 | |||||||
15,000 | AA | AGM, Series C, 5.000% due 11/15/25 | 16,006 | |||||||
35,000 | Aa3(a) | Grundy & Will Counties Community Unit School District No 1 Coal City, GO, 5.000% due 2/1/29 | 42,712 | |||||||
835,000 | AA+ | Illinois Development Finance Authority, Revenue Bonds, zero coupon, due 7/15/23 | 828,834 | |||||||
Illinois Finance Authority, Revenue Bonds: | ||||||||||
60,000 | AA+ | 5.000% due 7/15/26 | 73,259 | |||||||
75,000 | A+ | 5.000% due 11/15/26 | 79,967 | |||||||
25,000 | A3(a) | 5.000% due 8/15/27 | 28,998 | |||||||
70,000 | A | 5.000% due 5/15/28 | 83,927 | |||||||
60,000 | AA+ | 5.000% due 7/15/28 | 76,015 | |||||||
40,000 | A | 5.000% due 5/15/29 | 47,703 | |||||||
150,000 | AAA | 5.000% due 7/1/29 | 185,436 | |||||||
25,000 | A+ | 5.000% due 11/15/29 | 26,569 | |||||||
110,000 | A3(a) | 5.000% due 12/1/29 | 132,437 | |||||||
145,000 | AAA | 5.000% due 1/1/30 | 178,757 | |||||||
330,000 | AA- | 5.000% due 8/15/30 | 440,879 | |||||||
255,000 | AAA | 5.000% due 7/1/31 | 313,579 | |||||||
235,000 | AA+ | 5.000% due 9/1/32 | 246,908 | |||||||
175,000 | A3(a) | 5.000% due 8/15/35 | 198,833 | |||||||
170,000 | A | 5.000% due 1/1/36 | 202,266 | |||||||
870,000 | A | 5.000% due 1/1/38 | 1,052,766 | |||||||
315,000 | AA+ | 5.000% due 9/1/38 | 332,461 | |||||||
1,300,000 | A | 5.000% due 1/1/44 | 1,556,483 | |||||||
100,000 | A3(a) | 5.000% due 12/1/46 | 118,261 | |||||||
25,000 | BBB+ | 5.000% due 8/1/49 | 29,012 | |||||||
10,000 | A+ | Series A, 5.000% due 11/15/21 | 10,217 | |||||||
495,000 | AA- | Series A, 5.000% due 2/15/24 | 557,998 | |||||||
95,000 | AA- | Series A, 5.000% due 2/15/25 | 111,072 | |||||||
45,000 | AA- | Series A, 5.000% due 2/15/26 | 54,343 | |||||||
30,000 | A | Series A, 5.000% due 11/15/27 | 35,302 | |||||||
35,000 | A | Series A, 5.000% due 11/15/28 | 40,969 | |||||||
55,000 | A | Series A, 5.000% due 11/15/29 | 64,041 | |||||||
75,000 | AA- | Series A, 5.000% due 7/1/30 | 89,847 | |||||||
100,000 | A | Series A, 5.000% due 11/15/32 | 115,450 | |||||||
50,000 | AA- | Series A, 5.000% due 7/1/34 | 59,325 | |||||||
15,000 | AA+ | Series A, 5.000% due 9/1/34 | 16,854 | |||||||
60,000 | A+ | Series A, 5.000% due 11/15/34 | 69,876 | |||||||
255,000 | AA- | Series A, 5.000% due 7/1/36 | 301,589 | |||||||
20,000 | BBB+ | Series A, 5.000% due 8/1/47 | 23,235 | |||||||
45,000 | A | Series A, Prerefunded 5/15/22 @ 100, 5.000% due 5/15/23(d) | 47,086 | |||||||
95,000 | WD(e) | Series A, Prerefunded 8/15/26 @ 100, 5.000% due 8/15/33(d) | 116,215 | |||||||
85,000 | A+ | Series B, 5.000% due 11/15/26 | 99,790 | |||||||
35,000 | AA+ | Series C, 3.750% due 2/15/34 | 39,102 | |||||||
160,000 | AA+ | Series C, 4.000% due 2/15/36 | 181,390 | |||||||
35,000 | AA+ | Series C, 5.000% due 2/15/22 | 36,206 | |||||||
15,000 | AA+ | Series C, 5.000% due 2/15/24 | 16,931 | |||||||
75,000 | AA+ | Series C, 5.000% due 2/15/26 | 90,727 | |||||||
200,000 | AA+ | Series C, 5.000% due 2/15/28 | 247,417 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
Illinois - 3.4% - (continued) | ||||||||||
$ | 135,000 | AA+ | Series C, 5.000% due 2/15/29 | $ | 165,740 | |||||
50,000 | AA+ | Series C, 5.000% due 2/15/31 | 61,109 | |||||||
365,000 | AA+ | Series C, 5.000% due 2/15/32 | 445,533 | |||||||
145,000 | AA+ | Series C, 5.000% due 2/15/33 | 176,615 | |||||||
65,000 | AA+ | Series C, 5.000% due 2/15/36 | 78,687 | |||||||
205,000 | AA+ | Series C, 5.000% due 2/15/41 | 245,736 | |||||||
100,000 | AA+ | Series E, 2.250% due 11/15/42(b) | 101,915 | |||||||
60,000 | AA- | Series L, Prerefunded 12/1/21 @ 100, 5.000% due 12/1/22(d) | 61,470 | |||||||
95,000 | A(e) | Series Prerefunded 11/15/22 @ 100, 5.000% due 11/15/43(d) | 101,540 | |||||||
20,000 | NR | Series Prerefunded 2/15/27 @ 100, 4.000% due 2/15/41(d) | 23,512 | |||||||
Illinois Municipal Electric Agency, Revenue Bonds: | ||||||||||
1,000,000 | A | Series A, 5.000% due 2/1/22 | 1,030,849 | |||||||
290,000 | A | Series A, 5.000% due 2/1/28 | 341,248 | |||||||
105,000 | A | Series A, 5.000% due 2/1/31 | 123,508 | |||||||
Illinois State Toll Highway Authority, Revenue Bonds: | ||||||||||
50,000 | AA- | Series A, 5.000% due 12/1/31 | 59,597 | |||||||
2,000,000 | AA- | Series A, 5.000% due 1/1/40 | 2,593,213 | |||||||
175,000 | AA- | Series D, 5.000% due 1/1/24 | 195,803 | |||||||
255,000 | Aa3(a) | Kane Cook & DuPage Counties School District No U-46 Elgin, GO, Series B, AMBAC-Insured, zero coupon, due 1/1/22 | 254,778 | |||||||
Kane McHenry Cook & De Kalb Counties Unit School District No 300, GO: | ||||||||||
260,000 | AA | 5.000% due 1/1/26 | 302,914 | |||||||
55,000 | AA | 5.000% due 1/1/29 | 68,832 | |||||||
230,000 | AA | McHenry & Kane Counties Community Consolidated School District No 158 Huntley, GO, AGM-Insured, zero coupon, due 1/1/24 | 224,229 | |||||||
McHenry County Community Unit School District No 200 Woodstock, GO: | ||||||||||
215,000 | Aa2(a) | Series B, NPFG, zero coupon, due 1/15/24(f) | 210,048 | |||||||
225,000 | Aa2(a) | Series B, NPFG, zero coupon, due 1/15/25 | 216,150 | |||||||
170,000 | Aa2(a) | Series B, NPFG, zero coupon, due 1/15/26 | 160,304 | |||||||
McHenry County Conservation District, GO: | ||||||||||
65,000 | AA+ | 5.000% due 2/1/24 | 72,922 | |||||||
175,000 | AA+ | 5.000% due 2/1/27 | 204,129 | |||||||
70,000 | AA | Regional Transportation Authority, Revenue Bonds, Series A, 5.000% due 7/1/21 | 70,273 | |||||||
State of Illinois, GO: | ||||||||||
45,000 | BBB- | 5.000% due 8/1/21 | 45,351 | |||||||
225,000 | BBB- | 5.000% due 1/1/22 | 231,129 | |||||||
145,000 | BBB- | 5.000% due 3/1/22 | 150,060 | |||||||
190,000 | BBB- | 5.000% due 8/1/22 | 200,206 | |||||||
45,000 | BBB- | 5.000% due 2/1/23 | 48,413 | |||||||
220,000 | BBB- | 5.000% due 4/1/23 | 238,318 | |||||||
100,000 | BBB- | 5.000% due 8/1/23 | 109,778 | |||||||
225,000 | BBB- | 5.000% due 6/1/25 | 263,108 | |||||||
65,000 | BBB- | 5.000% due 2/1/26 | 72,170 | |||||||
270,000 | BBB- | 5.000% due 2/1/27 | 319,596 | |||||||
180,000 | BBB- | 5.000% due 2/1/28 | 216,235 | |||||||
60,000 | BBB- | 5.000% due 4/1/28 | 66,621 | |||||||
25,000 | BBB- | 5.000% due 5/1/28 | 27,836 | |||||||
165,000 | BBB- | 5.000% due 2/1/29 | 196,751 | |||||||
70,000 | BBB- | 5.000% due 5/1/32 | 77,168 | |||||||
190,000 | BBB- | 5.000% due 5/1/33 | 209,181 | |||||||
305,000 | BBB- | 5.250% due 2/1/31 | 336,184 | |||||||
115,000 | BBB- | 5.500% due 7/1/38 | 124,514 | |||||||
65,000 | BBB- | Series A, 4.000% due 1/1/23 | 66,350 | |||||||
105,000 | BBB- | Series A, 5.000% due 1/1/33 | 107,823 | |||||||
365,000 | BBB- | Series B, 5.000% due 9/1/21 | 369,281 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
Illinois - 3.4% - (continued) | ||||||||||
$ | 360,000 | BBB- | Series B, 5.000% due 9/1/22 | $ | 380,673 | |||||
365,000 | BBB- | Series B, 5.000% due 9/1/23 | 401,984 | |||||||
365,000 | BBB- | Series B, 5.000% due 9/1/24 | 416,749 | |||||||
620,000 | BBB- | Series D, 5.000% due 11/1/23 | 687,189 | |||||||
405,000 | BBB- | Series D, 5.000% due 11/1/25 | 478,924 | |||||||
390,000 | BBB- | Series D, 5.000% due 11/1/26 | 470,865 | |||||||
University of Illinois, Revenue Bonds: | ||||||||||
115,000 | A- | 6.000% due 10/1/42 | 128,180 | |||||||
115,000 | A- | 6.250% due 10/1/38 | 129,083 | |||||||
Will County Community Unit School District No 365 Valley View, GO: | ||||||||||
2,420,000 | Aa2(a) | Series A, 5.000% due 11/1/25 | 2,857,192 | |||||||
165,000 | AA | AGM, Series B, zero coupon, due 11/1/26 | 156,637 | |||||||
200,000 | AA | Will County School District No 86 Joliet, GO, AGM-Insured, zero coupon, due 11/1/21 | 199,601 | |||||||
Total Illinois | 31,282,897 | |||||||||
Indiana - 1.6% | ||||||||||
City of Indianapolis IN Thermal Energy System Revenue, Revenue Bonds: | ||||||||||
315,000 | A+ | Series A, 5.000% due 10/1/24 | 359,909 | |||||||
160,000 | AA | Series B, AGM, 5.000% due 10/1/21 | 162,518 | |||||||
City of Whiting IN, Revenue Bonds: | ||||||||||
370,000 | A- | 5.000% due 12/1/44(b)(c) | 448,371 | |||||||
1,020,000 | A- | 5.000% due 11/1/45(b)(c) | 1,088,789 | |||||||
300,000 | A- | County of St Joseph IN, Revenue Bonds, 4.000% due 4/1/38 | 340,912 | |||||||
Indiana Finance Authority, Revenue Bonds: | ||||||||||
320,000 | AA | 2.250% due 12/1/58(b) | 339,309 | |||||||
30,000 | AA- | 5.000% due 3/1/22 | 31,102 | |||||||
90,000 | AA- | 5.000% due 8/15/25 | 99,390 | |||||||
30,000 | AA- | 5.000% due 9/1/26 | 36,472 | |||||||
15,000 | AA- | 5.000% due 9/1/29 | 17,892 | |||||||
240,000 | AA- | 5.000% due 3/1/36 | 270,043 | |||||||
60,000 | AA- | 5.000% due 9/1/36 | 71,182 | |||||||
65,000 | AA | Series A, 5.000% due 10/1/25 | 69,101 | |||||||
70,000 | AA | Series A, 5.000% due 10/1/26 | 80,609 | |||||||
35,000 | AA | Series A, 5.000% due 10/1/28 | 40,208 | |||||||
115,000 | AA | Series A, 5.250% due 10/1/24 | 117,014 | |||||||
535,000 | AA | Series Prerefunded 1/1/22 @ 100, 1.650% due 12/1/42(b)(d) | 539,718 | |||||||
45,000 | AA- | Series Prerefunded 3/1/22 @ 100, 5.000% due 3/1/23(d) | 46,653 | |||||||
30,000 | AA- | Series Prerefunded 3/1/22 @ 100, 5.000% due 3/1/30(d) | 31,102 | |||||||
155,000 | AA- | Series Prerefunded 3/1/22 @ 100, 5.000% due 3/1/41(d) | 160,695 | |||||||
Indiana Health Facility Financing Authority, Revenue Bonds: | ||||||||||
1,000,000 | AA+ | Series A2, 2.000% due 11/15/36(b) | 1,027,665 | |||||||
7,500,000 | AA+ | Series E, 0.040% due 11/15/39(b) | 7,500,000 | |||||||
290,000 | Aaa(a) | Indiana Housing & Community Development Authority, Revenue Bonds, Series B, 3.500% due 1/1/49 | 316,936 | |||||||
Indiana Municipal Power Agency, Revenue Bonds: | ||||||||||
20,000 | A+ | Series A, 5.000% due 1/1/24 | 21,034 | |||||||
20,000 | A+ | Series A, 5.000% due 1/1/25 | 21,032 | |||||||
55,000 | A+ | Series A, 5.000% due 1/1/26 | 57,825 | |||||||
10,000 | NR | Series A, Prerefunded 7/1/22 @ 100, 5.000% due 1/1/24(d) | 10,529 | |||||||
10,000 | NR | Series A, Prerefunded 7/1/22 @ 100, 5.000% due 1/1/25(d) | 10,529 | |||||||
25,000 | NR | Series A, Prerefunded 7/1/22 @ 100, 5.000% due 1/1/26(d) | 26,323 | |||||||
515,000 | AAA | Indiana University, Revenue Bonds, Series W-1, 5.000% due 8/1/26 | 590,932 | |||||||
255,000 | A1(a) | Indianapolis Local Public Improvement Bond Bank, Revenue Bonds, 5.000% due 1/1/25(c) | 295,014 | |||||||
Lake Central Multi-District School Building Corp., Revenue Bonds: | ||||||||||
40,000 | AA+ | Series B, 4.000% due 1/15/22 | 40,922 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
Indiana - 1.6% - (continued) | ||||||||||
$ | 30,000 | AA+ | Series B, 5.000% due 7/15/22 | $ | 31,578 | |||||
40,000 | AA+ | Series B, 5.000% due 7/15/23 | 43,062 | |||||||
40,000 | NR | Series B, Prerefunded 1/15/23 @ 100, 5.000% due 7/15/23(d) | 43,096 | |||||||
120,000 | AA+ | Series B, Prerefunded 1/15/23 @ 100, 5.000% due 7/15/24(d) | 129,390 | |||||||
125,000 | AA+ | Series B, Prerefunded 1/15/23 @ 100, 5.000% due 7/15/25(d) | 134,781 | |||||||
Total Indiana | 14,651,637 | |||||||||
Iowa - 1.3% | ||||||||||
1,155,000 | Aa1(a) | City of Cedar Rapids IA, GO, Series A, 5.000% due 6/1/25 | 1,314,996 | |||||||
Iowa Finance Authority, Revenue Bonds: | ||||||||||
3,840,000 | AAA | 5.000% due 8/1/31 | 4,811,284 | |||||||
90,000 | BBB(e) | Series A, 5.000% due 5/15/43 | 103,933 | |||||||
105,000 | BBB(e) | Series A, 5.000% due 5/15/48 | 120,686 | |||||||
5,000,000 | A3(a) | PEFA Inc., Revenue Bonds, 5.000% due 9/1/49(b) | 6,012,036 | |||||||
Total Iowa | 12,362,935 | |||||||||
Kansas - 0.0% | ||||||||||
Wyandotte County-Kansas City Unified Government Utility System Revenue, Revenue Bonds: | ||||||||||
30,000 | A | Series A, 5.000% due 9/1/30 | 35,381 | |||||||
35,000 | A | Series A, 5.000% due 9/1/32 | 41,253 | |||||||
130,000 | A | Series A, Prerefunded 9/01/22 @ 100, 5.000% due 9/1/24(d) | 137,853 | |||||||
30,000 | A | Series B, Prerefunded 9/01/22 @ 100, 5.000% due 9/1/23(d) | 31,812 | |||||||
45,000 | A | Series B, Prerefunded 9/01/22 @ 100, 5.000% due 9/1/24(d) | 47,719 | |||||||
Total Kansas | 294,018 | |||||||||
Kentucky - 1.2% | ||||||||||
Kenton County Airport Board, Revenue Bonds: | ||||||||||
25,000 | A1(a) | 5.000% due 1/1/25 | 29,020 | |||||||
15,000 | A1(a) | 5.000% due 1/1/26 | 17,969 | |||||||
45,000 | A1(a) | 5.000% due 1/1/29 | 53,417 | |||||||
50,000 | A1(a) | 5.000% due 1/1/30 | 59,267 | |||||||
5,000,000 | A2(a) | Kentucky Public Energy Authority, Revenue Bonds, Series B, 4.000% due 1/1/49(b) | 5,564,404 | |||||||
Kentucky State Property & Building Commission, Revenue Bonds: | ||||||||||
160,000 | A- | 5.000% due 4/1/27 | 197,576 | |||||||
145,000 | A- | 5.000% due 5/1/28 | 183,203 | |||||||
15,000 | A- | 5.000% due 5/1/29 | 18,873 | |||||||
40,000 | AA | 5.000% due 5/1/31 | 50,217 | |||||||
110,000 | A- | Series A, 5.000% due 10/1/27 | 121,426 | |||||||
165,000 | A- | Series A, 5.000% due 2/1/29 | 195,415 | |||||||
170,000 | A- | Series A, 5.000% due 2/1/30 | 201,219 | |||||||
65,000 | A- | Series A, 5.000% due 2/1/32 | 76,893 | |||||||
80,000 | A- | Series A, 5.000% due 2/1/33 | 94,630 | |||||||
325,000 | A- | Series B, 5.000% due 11/1/26 | 397,892 | |||||||
1,445,000 | A- | Series B, 5.000% due 11/1/27 | 1,761,588 | |||||||
35,000 | A1(a) | Series D, 5.000% due 5/1/26 | 42,245 | |||||||
30,000 | A1(a) | Series D, 5.000% due 5/1/27 | 37,125 | |||||||
30,000 | A1(a) | Series D, 5.000% due 5/1/28 | 36,912 | |||||||
Louisville/Jefferson County Metropolitan Government, Revenue Bonds: | ||||||||||
200,000 | A | 5.000% due 10/1/47(b) | 259,833 | |||||||
525,000 | A | Series A, 5.000% due 10/1/29 | 632,935 | |||||||
95,000 | A | Series A, 5.000% due 10/1/32 | 113,997 | |||||||
70,000 | A | Series A, 5.500% due 10/1/33 | 77,769 | |||||||
185,000 | A | Series A, 5.750% due 10/1/38 | 206,280 | |||||||
100,000 | BBB+ | Series Prerefunded 6/1/22 @ 100, 5.000% due 12/1/28(d) | 104,790 | |||||||
335,000 | BBB+ | Series Prerefunded 6/1/22 @ 100, 5.000% due 12/1/29(d) | 351,046 | |||||||
355,000 | A+ | University of Louisville, Revenue Bonds, Series C, 3.000% due 9/1/21 | 357,416 | |||||||
Total Kentucky | 11,243,357 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
Louisiana - 0.3% | ||||||||||
$ | 1,500,000 | AA | Louisiana Local Government Environmental Facilities & Community Development Authority, Revenue Bonds, 5.000% due 10/1/26 | $ | 1,831,313 | |||||
Louisiana Public Facilities Authority, Revenue Bonds: | ||||||||||
40,000 | A | Series A, 5.000% due 12/15/22 | 42,895 | |||||||
85,000 | A | Series A, 5.000% due 12/15/23 | 94,942 | |||||||
New Orleans Aviation Board, Revenue Bonds: | ||||||||||
70,000 | A- | Series B, 5.000% due 1/1/24(c) | 78,072 | |||||||
85,000 | A- | Series B, 5.000% due 1/1/25(c) | 98,011 | |||||||
65,000 | A- | Series B, 5.000% due 1/1/27(c) | 75,049 | |||||||
10,000 | A- | Series B, 5.000% due 1/1/29(c) | 12,117 | |||||||
20,000 | A- | Series B, 5.000% due 1/1/31(c) | 24,059 | |||||||
20,000 | A- | Series B, 5.000% due 1/1/36(c) | 24,010 | |||||||
15,000 | A- | Series B, 5.000% due 1/1/37(c) | 17,973 | |||||||
20,000 | A- | Series D2, 5.000% due 1/1/26(c) | 23,789 | |||||||
15,000 | A- | Series D2, 5.000% due 1/1/29(c) | 18,176 | |||||||
20,000 | A- | Series D2, 5.000% due 1/1/30(c) | 24,097 | |||||||
45,000 | A- | Series D2, 5.000% due 1/1/32(c) | 54,274 | |||||||
35,000 | A- | Series D2, 5.000% due 1/1/35(c) | 42,082 | |||||||
15,000 | A- | Series D2, 5.000% due 1/1/38(c) | 17,941 | |||||||
Total Louisiana | 2,478,800 | |||||||||
Maine - 0.3% | ||||||||||
2,500,000 | AA+ | Maine State Housing Authority, Revenue Bonds, Series B, 3.150% due 11/15/39 | 2,737,003 | |||||||
60,000 | AA- | Maine Turnpike Authority, Revenue Bonds, 5.000% due 7/1/27 | 70,683 | |||||||
Total Maine | 2,807,686 | |||||||||
Maryland - 4.4% | ||||||||||
City of Baltimore MD, Revenue Bonds: | ||||||||||
105,000 | AA | Series C, 5.000% due 7/1/28 | 129,212 | |||||||
195,000 | AA | Series C, 5.000% due 7/1/31 | 238,602 | |||||||
200,000 | AA | Series C, 5.000% due 7/1/33 | 244,817 | |||||||
170,000 | AA- | Series D, 5.000% due 7/1/33 | 208,095 | |||||||
4,325,000 | AAA | County of Harford MD, GO, Series B, 5.000% due 7/1/26 | 5,299,024 | |||||||
2,500,000 | AAA | County of Howard MD, GO, Series D, 5.000% due 2/15/30 | 3,167,359 | |||||||
County of Prince George's MD, GO: | ||||||||||
3,595,000 | AAA | Series A, 5.000% due 7/15/22 | 3,793,755 | |||||||
5,805,000 | AAA | Series A, 5.000% due 7/15/29 | 7,468,935 | |||||||
2,065,000 | AAA | Series C, Prerefunded 8/1/23 @ 100, 4.000% due 8/1/26(d) | 2,237,157 | |||||||
Maryland Community Development Administration, Revenue Bonds: | ||||||||||
345,000 | Aa1(a) | Series B, 4.000% due 9/1/49 | 382,534 | |||||||
285,000 | Aa1(a) | Series C, 3.500% due 3/1/50 | 312,135 | |||||||
320,000 | Aa1(a) | Series C, 5.000% due 9/1/28 | 407,461 | |||||||
Maryland Health & Higher Educational Facilities Authority, Revenue Bonds: | ||||||||||
155,000 | BBB+ | Series A, 4.000% due 7/1/42 | 170,185 | |||||||
65,000 | BBB+ | Series A, 5.000% due 7/1/33 | 77,292 | |||||||
50,000 | BBB+ | Series A, 5.000% due 7/1/34 | 59,323 | |||||||
20,000 | BBB+ | Series A, 5.000% due 7/1/35 | 23,682 | |||||||
50,000 | BBB+ | Series A, 5.000% due 7/1/36 | 59,077 | |||||||
35,000 | A | Series A, Prerefunded 7/1/22 @ 100, 5.000% due 7/1/24(d) | 36,852 | |||||||
30,000 | A | Series A, Prerefunded 7/1/22 @ 100, 5.000% due 7/1/25(d) | 31,587 | |||||||
300,000 | AA- | Maryland State Transportation Authority, Revenue Bonds, 5.000% due 7/1/34 | 397,340 | |||||||
State of Maryland, GO: | ||||||||||
2,775,000 | AAA | Series A, 5.000% due 3/1/27 | 3,461,670 | |||||||
5,000,000 | AAA | Series A, 5.000% due 3/15/31 | 6,358,331 | |||||||
2,000,000 | AAA | Series A, 5.000% due 8/1/31 | 2,624,215 | |||||||
3,000,000 | AAA | State of Maryland Department of Transportation, Revenue Bonds, 3.500% due 10/1/33 | 3,372,304 | |||||||
Total Maryland | 40,560,944 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
Massachusetts - 0.9% | ||||||||||
Commonwealth of Massachusetts, GO: | ||||||||||
$ | 90,000 | AA | Series B, 5.000% due 7/1/22 | $ | 94,784 | |||||
520,000 | AA | Series C, 5.000% due 4/1/23 | 566,306 | |||||||
45,000 | AA | Massachusetts Bay Transportation Authority, Revenue Bonds, Series A, 5.000% due 7/1/45 | 52,786 | |||||||
Massachusetts Development Finance Agency, Revenue Bonds: | ||||||||||
45,000 | AA- | 5.000% due 7/1/23 | 49,478 | |||||||
115,000 | AA- | 5.000% due 7/1/24 | 131,514 | |||||||
50,000 | A | 5.000% due 7/1/30 | 64,300 | |||||||
235,000 | A | 5.000% due 7/1/31 | 300,980 | |||||||
500,000 | Baa2(a) | 5.000% due 7/1/34 | 629,880 | |||||||
65,000 | AAA | Series A, 5.000% due 7/15/22 | 68,601 | |||||||
145,000 | NR | Series A, Prerefunded 11/15/23 @ 100, 6.250% due 11/15/28(d)(g) | 162,130 | |||||||
500,000 | AA+ | Series N, 1.450% due 7/1/41(b) | 500,507 | |||||||
105,000 | AA- | Series S, 5.000% due 7/1/30 | 131,642 | |||||||
585,000 | A+ | Series S-1, 5.000% due 10/1/24 | 672,166 | |||||||
335,000 | AA- | Series S4, 5.000% due 7/1/38(b) | 376,537 | |||||||
500,000 | AA- | Massachusetts Port Authority, Revenue Bonds, Series E, 5.000% due 7/1/31(c) | 669,532 | |||||||
1,170,000 | AA | Massachusetts Transportation Trust Fund Metropolitan Highway System Revenue, Revenue Bonds, Series A, 5.000% due 1/1/39(b) | 1,258,578 | |||||||
2,500,000 | AA- | University of Massachusetts Building Authority, Revenue Bonds, Series 1, Prerefunded 11/01/22 @ 100, 4.000% due 11/1/43(d) | 2,637,720 | |||||||
Total Massachusetts | 8,367,441 | |||||||||
Michigan - 1.9% | ||||||||||
160,000 | AA | City of Detroit MI Sewage Disposal System Revenue, Revenue Bonds, Series G, AGM-Insured, 0.735% (3-Month USD-LIBOR), due 7/1/32(b) | 160,132 | |||||||
85,000 | Aa1(a) | Clarkston Community Schools, GO, 5.000% due 5/1/22 | 88,696 | |||||||
1,000,000 | AA | Detroit City School District, GO, Series A, AGM, 5.250% due 5/1/30 | 1,358,377 | |||||||
155,000 | AA | Detroit Downtown Development Authority, Special Tax, Series A, AGM-Insured, 5.000% due 7/1/37 | 174,303 | |||||||
Grand Rapids Public Schools, GO, AGM: | ||||||||||
40,000 | AA | 5.000% due 5/1/27 | 49,971 | |||||||
55,000 | AA | 5.000% due 5/1/29 | 67,960 | |||||||
100,000 | AA | 5.000% due 5/1/30 | 119,525 | |||||||
145,000 | AA | 5.000% due 5/1/31 | 173,235 | |||||||
20,000 | AA | 5.000% due 5/1/32 | 23,873 | |||||||
90,000 | AA | 5.000% due 5/1/33 | 107,334 | |||||||
Kalamazoo Hospital Finance Authority, Revenue Bonds: | ||||||||||
100,000 | A2(a) | 5.000% due 5/15/27 | 121,057 | |||||||
75,000 | A2(a) | 5.000% due 5/15/28 | 90,711 | |||||||
100,000 | AAA | Kent County Building Authority, Revenue Bonds, 5.500% due 6/1/22 | 105,377 | |||||||
20,000 | AA | Kent Hospital Finance Authority, Revenue Bonds, Series A, 5.000% due 11/15/21 | 20,440 | |||||||
Michigan Finance Authority, Revenue Bonds: | ||||||||||
310,000 | AA | AGM, 5.000% due 7/1/22 | 326,132 | |||||||
1,250,000 | Aa3(a) | 5.000% due 11/1/23 | 1,386,724 | |||||||
45,000 | AA- | 5.000% due 12/1/23 | 50,272 | |||||||
750,000 | Aa3(a) | 5.000% due 11/1/24 | 862,577 | |||||||
50,000 | AA- | 5.000% due 12/1/24 | 57,950 | |||||||
85,000 | AA- | 5.000% due 12/1/25 | 101,811 | |||||||
40,000 | AA- | 5.000% due 12/1/26 | 49,375 | |||||||
10,000 | AA- | 5.000% due 7/1/27 | 11,803 | |||||||
35,000 | AA- | 5.000% due 12/1/27 | 44,364 | |||||||
160,000 | A+ | 5.000% due 8/15/28 | 174,505 | |||||||
60,000 | AA- | 5.000% due 12/1/28 | 75,707 | |||||||
30,000 | AA- | 5.000% due 7/1/29 | 35,262 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
Michigan - 1.9% - (continued) | ||||||||||
$ | 60,000 | A+ | 5.000% due 8/15/29 | $ | 65,260 | |||||
35,000 | AA- | 5.000% due 7/1/31 | 41,123 | |||||||
30,000 | AA- | 5.000% due 7/1/32 | 35,222 | |||||||
315,000 | A | 5.000% due 11/15/32 | 385,113 | |||||||
25,000 | AA- | 5.000% due 7/1/33 | 29,329 | |||||||
205,000 | A | 5.000% due 11/15/36 | 217,926 | |||||||
45,000 | A | 5.000% due 11/15/42 | 47,716 | |||||||
735,000 | AA- | 5.000% due 12/1/44(b) | 854,423 | |||||||
45,000 | WR(a) | Series A, 5.000% due 6/1/21 | 45,000 | |||||||
65,000 | WR(a) | Series A, Prerefunded 6/1/22 @ 100, 5.000% due 6/1/27(d) | 68,147 | |||||||
140,000 | WR(a) | Series A, Prerefunded 6/1/22 @ 100, 5.000% due 6/1/39(d) | 146,778 | |||||||
Michigan State Building Authority, Revenue Bonds: | ||||||||||
495,000 | AA- | Series I, 5.000% due 10/15/34 | 598,886 | |||||||
80,000 | AA- | Series I, 5.000% due 4/15/35 | 96,603 | |||||||
Michigan State Hospital Finance Authority, Revenue Bonds: | ||||||||||
180,000 | AA+ | Series C, 2.400% due 11/15/47(b) | 187,018 | |||||||
45,000 | AA- | Series C, 5.000% due 12/1/24 | 52,155 | |||||||
60,000 | AA- | Series C, 5.000% due 12/1/26 | 74,062 | |||||||
40,000 | AA- | Series C, 5.000% due 12/1/27 | 50,730 | |||||||
60,000 | AA- | Series C, 5.000% due 12/1/28 | 75,707 | |||||||
710,000 | AA+ | Series F5, 4.000% due 11/15/47(b) | 789,743 | |||||||
Michigan Strategic Fund, Revenue Bonds: | ||||||||||
290,000 | A | 1.450% due 8/1/29(b) | 290,881 | |||||||
35,000 | A | 1.450% due 9/1/30(b) | 35,106 | |||||||
500,000 | A | 1.800% due 10/1/49(b)(c) | 516,168 | |||||||
Portage Public Schools, GO: | ||||||||||
35,000 | AA- | 5.000% due 11/1/27 | 42,529 | |||||||
90,000 | AA- | 5.000% due 11/1/29 | 108,777 | |||||||
Royal Oak Hospital Finance Authority, Revenue Bonds: | ||||||||||
30,000 | A+ | 5.000% due 9/1/22 | 31,791 | |||||||
60,000 | A+ | 5.000% due 9/1/24 | 67,524 | |||||||
95,000 | AA | State of Michigan, Revenue Bonds, 5.000% due 3/15/27 | 118,513 | |||||||
1,500,000 | Aa1(a) | State of Michigan, GO, Series A, 4.000% due 5/15/38 | 1,826,644 | |||||||
Warren Consolidated Schools, GO: | ||||||||||
130,000 | AA | 5.000% due 5/1/30 | 157,683 | |||||||
140,000 | AA | 5.000% due 5/1/31 | 169,661 | |||||||
145,000 | AA | 5.000% due 5/1/32 | 175,564 | |||||||
Wayne County Airport Authority, Revenue Bonds: | ||||||||||
5,000 | A- | Series A, 5.000% due 12/1/29 | 6,278 | |||||||
10,000 | A- | Series A, 5.000% due 12/1/30 | 12,531 | |||||||
10,000 | A- | Series A, 5.000% due 12/1/31 | 12,496 | |||||||
15,000 | A- | Series A, 5.000% due 12/1/36 | 18,581 | |||||||
620,000 | A- | Series B, 5.000% due 12/1/29(c) | 771,876 | |||||||
15,000 | A- | Series B, 5.000% due 12/1/30(c) | 18,636 | |||||||
15,000 | A- | Series B, 5.000% due 12/1/31(c) | 18,584 | |||||||
10,000 | A- | Series B, 5.000% due 12/1/33(c) | 12,380 | |||||||
25,000 | A- | Series B, 5.000% due 12/1/36(c) | 30,776 | |||||||
60,000 | A- | Series C, 5.000% due 12/1/22 | 64,309 | |||||||
65,000 | A- | Series C, 5.000% due 12/1/23 | 72,615 | |||||||
70,000 | A- | Series C, 5.000% due 12/1/24 | 81,156 | |||||||
70,000 | A- | Series C, 5.000% due 12/1/25 | 83,741 | |||||||
45,000 | A- | Series C, 5.000% due 12/1/26 | 55,382 | |||||||
45,000 | A- | Series C, 5.000% due 12/1/27 | 56,779 | |||||||
Western Michigan University, Revenue Bonds, AGM: | ||||||||||
700,000 | AA | Series C, 5.000% due 11/15/36 | 892,830 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
Michigan - 1.9% - (continued) | ||||||||||
$ | 800,000 | AA | Series C, 5.000% due 11/15/38 | $ | 1,014,765 | |||||
950,000 | AA | Series C, 5.000% due 11/15/40 | 1,199,525 | |||||||
Total Michigan | 17,662,495 | |||||||||
Minnesota - 1.8% | ||||||||||
2,500,000 | AAA | Metropolitan Council, GO, Series I, 3.000% due 3/1/27 | 2,545,378 | |||||||
State of Minnesota, GO: | ||||||||||
1,000,000 | AAA | Series A, 5.000% due 8/1/32 | 1,314,913 | |||||||
5,000,000 | AAA | Series A, 5.000% due 8/1/37 | 6,388,046 | |||||||
4,835,000 | AAA | Series B, 5.000% due 8/1/27 | 6,120,243 | |||||||
Total Minnesota | 16,368,580 | |||||||||
Mississippi - 0.3% | ||||||||||
Mississippi Hospital Equipment & Facilities Authority, Revenue Bonds: | ||||||||||
225,000 | A2(a) | 5.000% due 1/1/30 | 287,465 | |||||||
435,000 | A2(a) | 5.000% due 1/1/34 | 547,311 | |||||||
170,000 | A+ | 5.000% due 10/1/40(b) | 202,543 | |||||||
State of Mississippi, GO: | ||||||||||
160,000 | AA | Series A, 5.000% due 10/1/30 | 199,934 | |||||||
1,250,000 | AA | Series A, 5.000% due 10/1/34 | 1,562,866 | |||||||
Total Mississippi | 2,800,119 | |||||||||
Missouri - 0.4% | ||||||||||
Health & Educational Facilities Authority of the State of Missouri, Revenue Bonds: | ||||||||||
30,000 | A+ | 5.000% due 5/15/29 | 35,634 | |||||||
30,000 | A+ | 5.000% due 5/15/30 | 35,456 | |||||||
30,000 | A+ | 5.000% due 5/15/31 | 35,357 | |||||||
85,000 | A+ | 5.000% due 5/15/36 | 99,721 | |||||||
20,000 | A+ | Series B, 4.000% due 2/1/40 | 21,763 | |||||||
70,000 | A+ | Series B, 5.000% due 2/1/30 | 81,337 | |||||||
80,000 | A+ | Series B, 5.000% due 2/1/32 | 92,425 | |||||||
65,000 | A+ | Series B, 5.000% due 2/1/36 | 74,297 | |||||||
105,000 | A+ | Series B, 5.000% due 2/1/45 | 118,791 | |||||||
2,500,000 | AAA | Metropolitan St Louis Sewer District, Revenue Bonds, Series A, 5.000% due 5/1/37 | 3,063,276 | |||||||
80,000 | AA+ | Missouri Housing Development Commission, Revenue Bonds, 4.000% due 5/1/50 | 89,131 | |||||||
Total Missouri | 3,747,188 | |||||||||
Montana - 0.1% | ||||||||||
Montana Board of Housing, Revenue Bonds: | ||||||||||
80,000 | AA+ | Series A-1, 4.000% due 12/1/47(c) | 84,882 | |||||||
40,000 | AA+ | Series B, 4.000% due 6/1/50 | 45,371 | |||||||
Montana Facility Finance Authority, Revenue Bonds: | ||||||||||
40,000 | A+(e) | 5.000% due 2/15/22 | 41,292 | |||||||
60,000 | A+(e) | 5.000% due 2/15/23 | 64,654 | |||||||
60,000 | A+(e) | 5.000% due 2/15/24 | 67,169 | |||||||
60,000 | A+(e) | 5.000% due 2/15/25 | 69,502 | |||||||
90,000 | A+(e) | 5.000% due 2/15/26 | 107,528 | |||||||
Total Montana | 480,398 | |||||||||
Nebraska - 0.1% | ||||||||||
Nebraska Investment Finance Authority, Revenue Bonds: | ||||||||||
220,000 | AA+ | Series B, 4.000% due 9/1/49(c) | 241,481 | |||||||
230,000 | AA+ | Series E, 3.750% due 9/1/49(c) | 248,236 | |||||||
Nebraska Public Power District, Revenue Bonds: | ||||||||||
115,000 | A+ | Series B, 5.000% due 1/1/31 | 136,875 | |||||||
125,000 | A+ | Series B, 5.000% due 1/1/34 | 148,586 | |||||||
155,000 | A+ | Series B, 5.000% due 1/1/36 | 183,782 | |||||||
Total Nebraska | 958,960 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
Nevada - 1.1% | ||||||||||
City of Carson City NV, Revenue Bonds: | ||||||||||
$ | 20,000 | A- | 5.000% due 9/1/24 | $ | 22,774 | |||||
15,000 | A- | 5.000% due 9/1/28 | 18,502 | |||||||
20,000 | A- | 5.000% due 9/1/30 | 24,378 | |||||||
20,000 | A- | 5.000% due 9/1/32 | 24,251 | |||||||
20,000 | A- | 5.000% due 9/1/34 | 24,147 | |||||||
Clark County School District, GO: | ||||||||||
75,000 | A+ | Series A, 5.000% due 6/15/21 | 75,130 | |||||||
65,000 | A+ | Series A, 5.000% due 6/15/23 | 71,211 | |||||||
1,000,000 | A+ | Series C, 5.000% due 6/15/23 | 1,095,553 | |||||||
280,000 | A | County of Clark Department of Aviation, Revenue Bonds, Series C, 5.000% due 7/1/21(c) | 281,095 | |||||||
2,250,000 | AA+ | County of Clark NV, GO, Series A, 5.000% due 6/1/35 | 2,814,379 | |||||||
1,300,000 | A+ | County of Washoe NV, Revenue Bonds, 2.050% due 3/1/36(b)(c) | 1,319,509 | |||||||
Las Vegas Valley Water District, GO: | ||||||||||
85,000 | AA | Series A, 5.000% due 6/1/32 | 102,339 | |||||||
145,000 | AA | Series A, 5.000% due 6/1/33 | 174,341 | |||||||
155,000 | AA | Series A, 5.000% due 6/1/34 | 186,029 | |||||||
30,000 | AA | Series B, 5.000% due 6/1/22 | 31,464 | |||||||
60,000 | AA | Series B, 5.000% due 6/1/23 | 62,902 | |||||||
60,000 | AA | Series B, 5.000% due 6/1/24 | 62,853 | |||||||
30,000 | AA | Series B, 5.000% due 6/1/25 | 31,417 | |||||||
120,000 | AA+ | Nevada Housing Division, Revenue Bonds, Series B, 4.000% due 10/1/49 | 133,375 | |||||||
State of Nevada, GO: | ||||||||||
40,000 | AA+ | 5.000% due 8/1/21 | 40,322 | |||||||
80,000 | AA+ | 5.000% due 3/1/25 | 86,614 | |||||||
2,665,000 | AA+ | Series A, 5.000% due 5/1/27 | 3,322,310 | |||||||
Total Nevada | 10,004,895 | |||||||||
New Hampshire - 0.2% | ||||||||||
740,000 | A- | New Hampshire Business Finance Authority, Revenue Bonds, 2.150% due 7/1/27(b)(c) | 776,447 | |||||||
New Hampshire Health & Education Facilities Authority Act, Revenue Bonds: | ||||||||||
40,000 | BBB+ | 4.000% due 7/1/22 | 41,442 | |||||||
25,000 | A- | 4.000% due 10/1/38 | 27,856 | |||||||
40,000 | AA- | 5.000% due 7/1/24 | 45,744 | |||||||
35,000 | BBB+ | 5.000% due 7/1/26 | 36,553 | |||||||
135,000 | A- | 5.000% due 10/1/26 | 164,581 | |||||||
145,000 | A- | 5.000% due 10/1/27 | 176,459 | |||||||
60,000 | A- | 5.000% due 10/1/28 | 72,600 | |||||||
70,000 | AA- | 5.000% due 7/1/30 | 87,761 | |||||||
65,000 | A | 5.000% due 8/1/30 | 81,148 | |||||||
210,000 | A- | 5.000% due 10/1/30 | 251,555 | |||||||
70,000 | A2(a) | Series A, Prerefunded 10/1/22 @ 100, 5.000% due 10/1/43(d) | 74,462 | |||||||
New Hampshire State Turnpike System, Revenue Bonds: | ||||||||||
65,000 | AA- | Series B, 5.000% due 2/1/22 | 67,103 | |||||||
65,000 | AA- | Series B, 5.000% due 2/1/23 | 67,073 | |||||||
50,000 | AA- | Series B, 5.000% due 2/1/24 | 51,566 | |||||||
Total New Hampshire | 2,022,350 | |||||||||
New Jersey - 2.4% | ||||||||||
Camden County Improvement Authority, Revenue Bonds: | ||||||||||
60,000 | BBB+ | 5.000% due 2/15/24 | 67,083 | |||||||
30,000 | BBB+ | 5.000% due 2/15/25 | 33,514 | |||||||
City of Bayonne NJ, GO: | ||||||||||
45,000 | AA | 5.000% due 7/1/31 | 53,859 | |||||||
30,000 | AA | 5.000% due 7/1/32 | 35,906 | |||||||
30,000 | AA | 5.000% due 7/1/33 | 35,873 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
New Jersey - 2.4% - (continued) | ||||||||||
New Jersey Economic Development Authority, Revenue Bonds: | ||||||||||
$ | 40,000 | BBB | 5.000% due 3/1/25 | $ | 43,265 | |||||
850,000 | BBB | 5.000% due 11/1/34 | 1,070,512 | |||||||
1,000,000 | BBB | Series EEE, 5.000% due 6/15/30 | 1,259,061 | |||||||
270,000 | BBB | Series NN, 5.000% due 3/1/23 | 292,123 | |||||||
370,000 | BBB | Series NN, 5.000% due 3/1/24 | 400,405 | |||||||
580,000 | BBB | Series XX, 5.000% due 6/15/26 | 678,935 | |||||||
55,000 | Baa1(a) | New Jersey Educational Facilities Authority, Revenue Bonds, Series A, 5.000% due 7/1/29 | 65,245 | |||||||
New Jersey Health Care Facilities Financing Authority, Revenue Bonds: | ||||||||||
620,000 | AA- | 5.000% due 7/1/42(b) | 730,399 | |||||||
625,000 | AA- | 5.000% due 7/1/45(b) | 758,171 | |||||||
15,000 | AA | Series A, 5.000% due 7/1/28 | 18,327 | |||||||
45,000 | AA | Series A, 5.000% due 7/1/33 | 54,605 | |||||||
New Jersey Higher Education Student Assistance Authority, Revenue Bonds: | ||||||||||
40,000 | AA | Series 1A, 5.000% due 12/1/22(c) | 42,766 | |||||||
100,000 | AA | Series 1A, 5.000% due 12/1/24(c) | 115,183 | |||||||
40,000 | AAA | Series 1B, 5.000% due 12/1/21(c) | 40,933 | |||||||
165,000 | Aa1(a) | Series A, 5.000% due 12/1/22 | 176,668 | |||||||
115,000 | Aa1(a) | Series A, 5.000% due 12/1/23 | 128,259 | |||||||
65,000 | Aa1(a) | Series A, 5.000% due 12/1/24 | 74,991 | |||||||
125,000 | Aa1(a) | Series A, 5.000% due 12/1/25 | 148,313 | |||||||
New Jersey Transportation Trust Fund Authority, Revenue Bonds: | ||||||||||
100,000 | BBB | 4.000% due 12/15/39 | 115,340 | |||||||
5,000,000 | A+ | 5.000% due 6/15/24 | 5,679,238 | |||||||
435,000 | A+ | 5.000% due 6/15/27 | 523,201 | |||||||
1,320,000 | BBB | 5.000% due 12/15/28 | 1,675,892 | |||||||
200,000 | BBB | 5.000% due 12/15/39 | 249,617 | |||||||
870,000 | BBB | Series A, zero coupon, due 12/15/27 | 787,233 | |||||||
195,000 | BBB | Series A, zero coupon, due 12/15/28 | 170,944 | |||||||
220,000 | BBB | Series A, 5.000% due 12/15/33 | 274,991 | |||||||
2,000,000 | BBB | Series A, 5.000% due 12/15/34 | 2,494,880 | |||||||
215,000 | BBB | Series AA, 5.000% due 6/15/23 | 225,699 | |||||||
345,000 | BBB | Series AA, 5.000% due 6/15/24 | 362,168 | |||||||
360,000 | BBB | Series AA, 5.000% due 6/15/25 | 409,129 | |||||||
215,000 | BBB | Series AA, 5.000% due 6/15/26 | 244,076 | |||||||
145,000 | BBB | Series AA, 5.000% due 6/15/29 | 152,216 | |||||||
New Jersey Turnpike Authority, Revenue Bonds: | ||||||||||
1,000,000 | A+ | Series A, 4.000% due 1/1/42 | 1,196,011 | |||||||
1,500,000 | A+ | Series B, 1.047% due 1/1/26 | 1,496,976 | |||||||
Total New Jersey | 22,382,007 | |||||||||
New Mexico - 0.1% | ||||||||||
490,000 | AA | New Mexico Hospital Equipment Loan Council, Revenue Bonds, Series B, 5.000% due 8/1/49(b) | 577,042 | |||||||
165,000 | Aaa(a) | New Mexico Mortgage Finance Authority, Revenue Bonds, Series D, 3.750% due 1/1/50 | 182,137 | |||||||
Total New Mexico | 759,179 | |||||||||
New York - 11.2% | ||||||||||
City of New York NY, GO: | ||||||||||
190,000 | AA | Series A, 5.000% due 8/1/22 | 200,827 | |||||||
5,880,000 | AA | Series B1, 5.000% due 11/1/30 | 7,872,076 | |||||||
2,035,000 | AA | Series B1, 5.000% due 12/1/38 | 2,483,633 | |||||||
90,000 | AA | Series C, 5.000% due 8/1/27 | 104,873 | |||||||
5,000,000 | AA | Series D1, 5.000% due 12/1/34 | 6,340,198 | |||||||
1,000,000 | AA | Series F1, 5.000% due 4/1/43 | 1,226,072 | |||||||
2,000,000 | AA | Series H, 5.000% due 1/1/36 | 2,516,568 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
New York - 11.2% - (continued) | ||||||||||
$ | 90,000 | AA | Series J, 5.000% due 8/1/22 | $ | 95,128 | |||||
1,925,000 | AA | County of Nassau NY, GO, Series A, AGM-Insured, 5.000% due 4/1/32 | 2,414,304 | |||||||
Hudson Yards Infrastructure Corp., Revenue Bonds: | ||||||||||
115,000 | A+ | Series A, 5.000% due 2/15/32 | 140,588 | |||||||
215,000 | A+ | Series A, 5.000% due 2/15/35 | 261,102 | |||||||
Long Island Power Authority, Revenue Bonds: | ||||||||||
1,020,000 | A | Series B, 1.650% due 9/1/49(b) | 1,053,808 | |||||||
60,000 | A | Series B, 5.000% due 9/1/22 | 63,621 | |||||||
45,000 | A | Series B, 5.000% due 9/1/23 | 49,849 | |||||||
40,000 | A | Series B, 5.000% due 9/1/24 | 46,065 | |||||||
Metropolitan Transportation Authority, Revenue Bonds: | ||||||||||
125,000 | BBB+ | Series A1, 5.000% due 11/15/35 | 143,106 | |||||||
145,000 | BBB+ | Series A1, 5.000% due 11/15/36 | 165,816 | |||||||
245,000 | BBB+ | Series A2, 5.000% due 11/15/29 | 298,380 | |||||||
270,000 | BBB+ | Series B, 5.000% due 11/15/30 | 324,514 | |||||||
290,000 | BBB+ | Series C1, 5.000% due 11/15/27 | 353,042 | |||||||
685,000 | BBB+ | Series C1, 5.000% due 11/15/28 | 804,424 | |||||||
300,000 | BBB+ | Series C1, 5.000% due 11/15/31 | 373,314 | |||||||
415,000 | BBB+ | Series D1, 5.000% due 11/15/30 | 469,800 | |||||||
MTA Hudson Rail Yards Trust Obligations, Revenue Bonds: | ||||||||||
370,000 | A3(a) | Series A, 5.000% due 11/15/51 | 376,849 | |||||||
860,000 | A3(a) | Series A, 5.000% due 11/15/56 | 929,747 | |||||||
2,500,000 | AAA | Nassau County Interim Finance Authority, Revenue Bonds, Series BB, 0.829% due 11/15/26 | 2,482,489 | |||||||
3,000,000 | AA | New York City Transitional Finance Authority Building Aid Revenue, Revenue Bonds, Series S1, 5.000% due 7/15/29 | 3,746,274 | |||||||
New York City Transitional Finance Authority Future Tax Secured Revenue, Revenue Bonds: | ||||||||||
2,500,000 | AAA | 0.010% due 8/1/45(b) | 2,500,000 | |||||||
160,000 | AAA | Series A, 5.000% due 11/1/21 | 163,248 | |||||||
275,000 | AAA | Series C2, 5.000% due 5/1/32 | 348,374 | |||||||
5,390,000 | AAA | Series E1, 4.000% due 2/1/38 | 6,541,845 | |||||||
New York City Water & Sewer System, Revenue Bonds: | ||||||||||
4,285,000 | AA+ | 0.010% due 6/15/50(b) | 4,285,000 | |||||||
1,725,000 | AA+ | 5.000% due 6/15/23 | 1,895,402 | |||||||
1,100,000 | AA+ | 5.000% due 6/15/29 | 1,451,461 | |||||||
5,000,000 | AA+ | Series AA, 5.000% due 6/15/32 | 5,008,824 | |||||||
New York State Dormitory Authority, Revenue Bonds: | ||||||||||
385,000 | AA | 5.000% due 5/15/23 | 402,872 | |||||||
750,000 | A- | 5.000% due 5/1/48(b) | 826,858 | |||||||
2,500,000 | AA+ | Series A, 4.000% due 3/15/37 | 3,045,439 | |||||||
5,000,000 | Aa2(a) | Series A, 5.000% due 9/15/22 | 5,315,094 | |||||||
4,500,000 | AA | AGM, Series A, 5.000% due 10/1/33 | 5,789,722 | |||||||
4,000,000 | Aa2(a) | Series A, 5.250% due 3/15/38 | 5,140,500 | |||||||
2,150,000 | AAA | New York State Environmental Facilities Corp., Revenue Bonds, Series A, 5.000% due 6/15/33 | 2,743,817 | |||||||
New York State Urban Development Corp., Revenue Bonds: | ||||||||||
65,000 | AA+ | Series A, 5.000% due 3/15/22 | 67,511 | |||||||
80,000 | AA+ | Series A, 5.000% due 3/15/32 | 98,189 | |||||||
5,000,000 | AA+ | Series E, 4.000% due 3/15/38 | 5,976,316 | |||||||
175,000 | AA- | Onondaga Civic Development Corp., Revenue Bonds, Series A, 5.000% due 12/1/33 | 230,623 | |||||||
Port Authority of New York & New Jersey, Revenue Bonds: | ||||||||||
5,000,000 | A+ | Series 207, 5.000% due 9/15/24(c) | 5,736,086 | |||||||
1,400,000 | A+ | Series 226, 5.000% due 10/15/30(c) | 1,844,691 | |||||||
2,000,000 | A+ | Series 226, 5.000% due 10/15/31(c) | 2,676,304 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
New York - 11.2% - (continued) | ||||||||||
$ | 1,250,000 | A+ | Series 226, 5.000% due 10/15/32(c) | $ | 1,635,176 | |||||
500,000 | A+ | Series 226, 5.000% due 10/15/33(c) | 650,679 | |||||||
400,000 | AA+ | Sales Tax Asset Receivable Corp., Revenue Bonds, Series A, 4.000% due 10/15/32 | 446,061 | |||||||
85,000 | Aa1(a) | State of New York Mortgage Agency, Revenue Bonds, Series 211, 3.500% due 10/1/32(c) | 92,506 | |||||||
Triborough Bridge & Tunnel Authority, Revenue Bonds: | ||||||||||
4,000,000 | AA- | Series A, Prerefunded 1/1/22 @ 100, 5.000% due 1/1/26(d) | 4,114,678 | |||||||
85,000 | AA- | Series B, 5.000% due 11/15/23 | 94,902 | |||||||
115,000 | AA- | Series B, 5.000% due 11/15/24 | 128,217 | |||||||
Total New York | 104,586,862 | |||||||||
North Carolina - 1.3% | ||||||||||
County of New Hanover NC, Revenue Bonds: | ||||||||||
25,000 | WR(a) | 5.000% due 10/1/27 | 31,346 | |||||||
205,000 | WR(a) | Series Prerefunded 10/1/27 @ 100, 5.000% due 10/1/47(d) | 257,036 | |||||||
655,000 | AA- | North Carolina Medical Care Commission, Revenue Bonds, 2.200% due 12/1/48(b) | 667,382 | |||||||
105,000 | Aa3(a) | Raleigh Durham Airport Authority, Revenue Bonds, Series A, 5.000% due 5/1/29(c) | 135,590 | |||||||
State of North Carolina, Revenue Bonds: | ||||||||||
330,000 | AA | 5.000% due 3/1/22 | 342,117 | |||||||
290,000 | AA | 5.000% due 3/1/23 | 313,922 | |||||||
10,000,000 | AAA | University of North Carolina at Chapel Hill, Revenue Bonds, Series B, 0.424% (1-Month USD-LIBOR), due 12/1/34(b) | 10,001,067 | |||||||
Total North Carolina | 11,748,460 | |||||||||
Ohio - 0.7% | ||||||||||
American Municipal Power Inc., Revenue Bonds: | ||||||||||
60,000 | A | 5.000% due 2/15/22 | 62,046 | |||||||
40,000 | A | 5.000% due 2/15/42 | 41,329 | |||||||
800,000 | A | Series A, 2.300% due 2/15/38(b) | 803,299 | |||||||
65,000 | A | Series Prerefunded 2/15/22 @ 100, 5.000% due 2/15/23(d) | 67,228 | |||||||
60,000 | A | Series Prerefunded 2/15/22 @ 100, 5.000% due 2/15/24(d) | 62,056 | |||||||
City of Cleveland OH Airport System Revenue, Revenue Bonds, AGM: | ||||||||||
30,000 | AA | Series A, 5.000% due 1/1/26 | 34,650 | |||||||
45,000 | AA | Series A, 5.000% due 1/1/28 | 51,975 | |||||||
65,000 | AA | Series A, 5.000% due 1/1/29 | 75,074 | |||||||
60,000 | AA | Series A, 5.000% due 1/1/30 | 69,299 | |||||||
Cleveland Department of Public Utilities Division of Water, Revenue Bonds: | ||||||||||
35,000 | AA | Series A, Prerefunded 1/1/22 @ 100, 5.000% due 1/1/26(d) | 36,001 | |||||||
45,000 | AA | Series A, Prerefunded 1/1/22 @ 100, 5.000% due 1/1/27(d) | 46,287 | |||||||
55,000 | AA | Columbus City School District, GO, 5.000% due 12/1/32 | 66,130 | |||||||
County of Allen OH Hospital Facilities Revenue, Revenue Bonds: | ||||||||||
125,000 | A+ | 5.000% due 12/1/29 | 164,383 | |||||||
125,000 | A+ | 5.000% due 12/1/30 | 164,761 | |||||||
80,000 | A+ | Series B, 5.000% due 8/1/47(b) | 83,440 | |||||||
60,000 | Aa2(a) | County of Franklin OH, Revenue Bonds, 5.000% due 11/1/26 | 73,672 | |||||||
140,000 | A- | County of Hamilton OH, Revenue Bonds, 5.250% due 6/1/26 | 145,784 | |||||||
135,000 | BBB | County of Lucas OH, Revenue Bonds, Series A, Prerefunded 11/15/21 @ 100, 6.500% due 11/15/37(d) | 138,910 | |||||||
465,000 | A3(a) | County of Scioto OH, Revenue Bonds, 5.000% due 2/15/29 | 547,574 | |||||||
285,000 | Aa3(a) | Miami University, Revenue Bonds, Series A, 5.000% due 9/1/30 | 382,896 | |||||||
50,000 | Aaa(a) | Ohio Housing Finance Agency, Revenue Bonds, Series B, 4.500% due 3/1/50 | 56,297 | |||||||
1,000,000 | AA | Ohio State University, Revenue Bonds, Series A, 5.000% due 12/1/30 | 1,348,548 | |||||||
2,000,000 | AAA | Ohio Water Development Authority Water Pollution Control Loan Fund, Revenue Bonds, Series A, 0.040% due 12/1/36(b) | 2,000,000 | |||||||
State of Ohio, Revenue Bonds: | ||||||||||
75,000 | AA | 5.000% due 1/1/27 | 93,027 | |||||||
145,000 | AA | 5.000% due 1/1/29 | 184,283 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
Ohio - 0.7% - (continued) | ||||||||||
$ | 90,000 | A | Series A, 4.000% due 1/15/50 | $ | 103,659 | |||||
Total Ohio | 6,902,608 | |||||||||
Oklahoma - 0.2% | ||||||||||
560,000 | AA- | Canadian County Educational Facilities Authority, Revenue Bonds, 5.000% due 9/1/26 | 684,690 | |||||||
Grand River Dam Authority, Revenue Bonds: | ||||||||||
35,000 | AA- | Series A, 5.000% due 6/1/27 | 39,623 | |||||||
45,000 | AA- | Series A, 5.000% due 6/1/28 | 50,915 | |||||||
90,000 | WR(a) | Oklahoma Development Finance Authority, Revenue Bonds, Series Prerefunded 2/15/22 @ 100, 5.000% due 2/15/23(d) | 93,084 | |||||||
Oklahoma Municipal Power Authority, Revenue Bonds: | ||||||||||
50,000 | A | Series A, 5.000% due 1/1/26 | 57,837 | |||||||
175,000 | A | Series A, 5.000% due 1/1/27 | 201,882 | |||||||
60,000 | A | Series A, 5.000% due 1/1/28 | 69,083 | |||||||
45,000 | A | Series A, 5.000% due 1/1/29 | 51,813 | |||||||
60,000 | A | Series B, 5.000% due 1/1/27 | 69,217 | |||||||
600,000 | AAA | Oklahoma Water Resources Board, Revenue Bonds, Series A, 4.000% due 4/1/35 | 736,875 | |||||||
Total Oklahoma | 2,055,019 | |||||||||
Oregon - 0.9% | ||||||||||
85,000 | Aa1(a) | Hillsboro School District No 1J, GO, 5.000% due 6/15/30 | 106,093 | |||||||
3,800,000 | A+ | Oregon State Business Development Commission, Revenue Bonds, Series 232, 2.400% due 12/1/40(b) | 3,964,837 | |||||||
Port of Portland OR Airport Revenue, Revenue Bonds: | ||||||||||
300,000 | A+ | 5.000% due 7/1/28(c) | 380,178 | |||||||
165,000 | A+ | 5.000% due 7/1/29 | 207,236 | |||||||
205,000 | A+ | Series 24B, 5.000% due 7/1/32(c) | 247,005 | |||||||
2,675,000 | AA+ | Salem-Keizer School District No 24J, GO, 5.000% due 6/15/32 | 3,412,391 | |||||||
Total Oregon | 8,317,740 | |||||||||
Pennsylvania - 1.4% | ||||||||||
City of Philadelphia PA, GO: | ||||||||||
550,000 | A | Series A, 5.000% due 8/1/22 | 581,003 | |||||||
1,000,000 | A | Series B, 5.000% due 2/1/24 | 1,121,590 | |||||||
85,000 | A | Series B, 5.000% due 8/1/27 | 100,405 | |||||||
300,000 | A | Series B, 5.000% due 8/1/29 | 353,015 | |||||||
320,000 | A | Series B, 5.000% due 8/1/30 | 376,550 | |||||||
335,000 | A | Series B, 5.000% due 8/1/31 | 394,049 | |||||||
City of Philadelphia PA Airport Revenue, Revenue Bonds: | ||||||||||
50,000 | A- | Series B, 5.000% due 7/1/30(c) | 61,454 | |||||||
70,000 | A- | Series B, 5.000% due 7/1/31(c) | 85,762 | |||||||
Commonwealth Financing Authority, Revenue Bonds: | ||||||||||
1,010,000 | A | Series A, 5.000% due 6/1/28 | 1,269,899 | |||||||
500,000 | A | Series B, 5.000% due 6/1/25 | 585,252 | |||||||
Commonwealth of Pennsylvania, GO: | ||||||||||
290,000 | A+ | 5.000% due 10/15/27 | 322,047 | |||||||
810,000 | A+ | 5.000% due 9/15/29 | 982,052 | |||||||
General Authority of Southcentral Pennsylvania, Revenue Bonds: | ||||||||||
190,000 | Aa3(a) | 5.000% due 6/1/38 | 239,377 | |||||||
310,000 | Aa3(a) | 5.000% due 6/1/39 | 389,676 | |||||||
1,000,000 | A | Lehigh County Industrial Development Authority, Revenue Bonds, Series A, 1.800% due 9/1/29(b) | 1,018,280 | |||||||
Montgomery County Higher Education & Health Authority, Revenue Bonds: | ||||||||||
325,000 | A | 5.000% due 9/1/33 | 413,987 | |||||||
115,000 | A | Series A, AMBAC, 6.000% due 6/1/22 | 121,427 | |||||||
1,000,000 | A+ | Northampton County General Purpose Authority, Revenue Bonds, 5.000% due 11/1/27 | 1,252,090 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
Pennsylvania - 1.4% - (continued) | ||||||||||
$ | 60,000 | A | Pennsylvania Economic Development Financing Authority, Revenue Bonds, 5.000% due 3/1/22 | $ | 62,032 | |||||
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds: | ||||||||||
775,000 | AA | 4.000% due 8/15/38 | 896,012 | |||||||
900,000 | AA | 5.000% due 8/15/32 | 1,164,455 | |||||||
35,000 | AA | Series A, 5.000% due 8/15/27 | 44,058 | |||||||
35,000 | AA | Series A, 5.000% due 8/15/28 | 43,938 | |||||||
60,000 | AA | Series A, 5.000% due 8/15/30 | 74,877 | |||||||
Pennsylvania Turnpike Commission, Revenue Bonds: | ||||||||||
15,000 | A1(a) | Series A1, 5.000% due 12/1/22 | 16,101 | |||||||
15,000 | A1(a) | Series A1, 5.000% due 12/1/23 | 16,797 | |||||||
45,000 | A1(a) | Series A1, 5.000% due 12/1/29 | 56,894 | |||||||
30,000 | A1(a) | Series A1, 5.000% due 12/1/34 | 37,457 | |||||||
35,000 | A | Series A2, 5.000% due 12/1/28 | 42,332 | |||||||
35,000 | A | Series A2, 5.000% due 12/1/33 | 44,442 | |||||||
250,000 | A- | Philadelphia Authority for Industrial Development, Revenue Bonds, 4.000% due 11/1/21 | 253,630 | |||||||
Philadelphia Gas Works Co., Revenue Bonds: | ||||||||||
30,000 | A | 5.000% due 8/1/23 | 32,975 | |||||||
20,000 | A | 5.000% due 8/1/24 | 22,738 | |||||||
250,000 | AA | Pittsburgh Water & Sewer Authority, Revenue Bonds, Series A, AGM-Insured, 5.000% due 9/1/44 | 315,492 | |||||||
40,000 | A2(a) | State Public School Building Authority, Revenue Bonds, 5.000% due 6/1/26 | 46,820 | |||||||
Total Pennsylvania | 12,838,965 | |||||||||
Rhode Island - 0.5% | ||||||||||
Rhode Island Health & Educational Building Corp., Revenue Bonds: | ||||||||||
240,000 | AA | AGM, 5.000% due 5/15/25 | 282,688 | |||||||
2,000,000 | AA+ | Series A, 5.000% due 9/1/29 | 2,509,842 | |||||||
145,000 | AA+ | Rhode Island Housing & Mortgage Finance Corp., Revenue Bonds, Series 70, 4.000% due 10/1/49 | 160,502 | |||||||
Rhode Island Student Loan Authority, Revenue Bonds: | ||||||||||
70,000 | AA | Series A, 3.500% due 12/1/34(c) | 72,584 | |||||||
1,125,000 | AA | Series A, 5.000% due 12/1/26(c) | 1,362,251 | |||||||
Tobacco Settlement Financing Corp., Revenue Bonds: | ||||||||||
55,000 | BBB | Series A, 5.000% due 6/1/27 | 64,735 | |||||||
70,000 | BBB | Series A, 5.000% due 6/1/28 | 81,875 | |||||||
Total Rhode Island | 4,534,477 | |||||||||
South Carolina - 1.6% | ||||||||||
Beaufort-Jasper Water & Sewer Authority, Revenue Bonds: | ||||||||||
30,000 | AA+ | Series B, 5.000% due 3/1/22 | 31,102 | |||||||
30,000 | AA+ | Series B, 5.000% due 3/1/24 | 33,886 | |||||||
30,000 | AA+ | Series B, 5.000% due 3/1/25 | 35,142 | |||||||
2,500,000 | AAA | County of Charleston SC, GO, Series C, 5.000% due 11/1/27 | 3,180,177 | |||||||
8,000,000 | Aa2(a) | Patriots Energy Group Financing Agency, Revenue Bonds, Series A, 4.000% due 10/1/48(b)(h) | 8,719,503 | |||||||
Scago Educational Facilities Corp. for Colleton School District, Revenue Bonds: | ||||||||||
115,000 | A- | 5.000% due 12/1/27 | 133,469 | |||||||
95,000 | A- | 5.000% due 12/1/29 | 110,319 | |||||||
South Carolina Jobs-Economic Development Authority, Revenue Bonds: | ||||||||||
65,000 | A+ | 5.000% due 2/1/22 | 67,072 | |||||||
30,000 | A+ | 5.000% due 2/1/24 | 33,690 | |||||||
50,000 | A+ | 5.000% due 2/1/25 | 58,164 | |||||||
50,000 | A+ | 5.000% due 2/1/26 | 60,052 | |||||||
South Carolina Ports Authority, Revenue Bonds: | ||||||||||
65,000 | A+ | 5.000% due 7/1/28(c) | 82,169 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
South Carolina - 1.6% - (continued) | ||||||||||
$ | 140,000 | A+ | 5.000% due 7/1/30(c) | $ | 175,625 | |||||
South Carolina Public Service Authority, Revenue Bonds: | ||||||||||
515,000 | A | Series A, 5.500% due 12/1/54 | 584,064 | |||||||
185,000 | A | Series B, 5.000% due 12/1/35 | 224,551 | |||||||
275,000 | A | Series B, 5.000% due 12/1/36 | 333,160 | |||||||
115,000 | A | Series C, 5.000% due 12/1/25 | 132,735 | |||||||
115,000 | A | Series C, 5.000% due 12/1/26 | 132,344 | |||||||
90,000 | A | Series C, 5.000% due 12/1/27 | 103,480 | |||||||
105,000 | A | Series C, 5.000% due 12/1/46 | 119,859 | |||||||
190,000 | A | Series E, 5.500% due 12/1/53 | 212,231 | |||||||
South Carolina State Housing Finance & Development Authority, Revenue Bonds: | ||||||||||
195,000 | Aaa(a) | Series A, 4.000% due 1/1/50 | 218,872 | |||||||
170,000 | Aaa(a) | Series A, 4.000% due 7/1/50 | 192,025 | |||||||
Total South Carolina | 14,973,691 | |||||||||
South Dakota - 0.0% | ||||||||||
South Dakota Health & Educational Facilities Authority, Revenue Bonds: | ||||||||||
30,000 | AA- | 5.000% due 7/1/23 | 32,873 | |||||||
15,000 | AA- | 5.000% due 7/1/24 | 17,070 | |||||||
10,000 | AA- | 5.000% due 7/1/27 | 12,467 | |||||||
50,000 | AA- | 5.000% due 7/1/33 | 60,728 | |||||||
40,000 | AA- | 5.000% due 7/1/35 | 48,421 | |||||||
35,000 | A+ | Series B, 5.000% due 11/1/24 | 40,460 | |||||||
35,000 | A+ | Series B, 5.000% due 11/1/25 | 40,369 | |||||||
5,000 | A+ | Series B, 5.000% due 11/1/26 | 5,763 | |||||||
Total South Dakota | 258,151 | |||||||||
Tennessee - 1.0% | ||||||||||
1,585,000 | AAA | City of Chattanooga TN, GO, Series A, 4.000% due 2/1/33 | 1,919,489 | |||||||
Greeneville Health & Educational Facilities Board, Revenue Bonds: | ||||||||||
30,000 | A- | Series A, 5.000% due 7/1/29 | 37,742 | |||||||
35,000 | A- | Series A, 5.000% due 7/1/30 | 43,745 | |||||||
Knox County Health Educational & Housing Facility Board, Revenue Bonds: | ||||||||||
35,000 | BBB | 5.000% due 9/1/22 | 36,976 | |||||||
30,000 | BBB | 5.000% due 4/1/24 | 33,687 | |||||||
30,000 | BBB | 5.000% due 9/1/24 | 34,172 | |||||||
40,000 | BBB | 5.000% due 4/1/25 | 46,426 | |||||||
6,240,000 | Aa2(a) | Tennergy Corp., Revenue Bonds, Series A, 5.000% due 2/1/50(b) | 7,143,319 | |||||||
350,000 | A2(a) | Tennessee Energy Acquisition Corp., Revenue Bonds, Series A, 4.000% due 5/1/48(b) | 372,748 | |||||||
Total Tennessee | 9,668,304 | |||||||||
Texas - 12.3% | ||||||||||
1,895,000 | AAA | Alamo Community College District, GO, 5.000% due 8/15/34 | 2,365,546 | |||||||
40,000 | AA- | Austin Community College District, Revenue Bonds, AMBAC-Insured, zero coupon, due 2/1/22 | 39,898 | |||||||
Board of Regents of the University of Texas System, Revenue Bonds: | ||||||||||
90,000 | AAA | Series B, 5.000% due 8/15/22 | 95,320 | |||||||
65,000 | AAA | Series D, 5.000% due 8/15/21 | 65,649 | |||||||
70,000 | AAA | Series D, 5.000% due 8/15/22 | 74,137 | |||||||
80,000 | AAA | Series E, 5.000% due 8/15/22 | 84,729 | |||||||
90,000 | AAA | Series J, 5.000% due 8/15/22 | 95,320 | |||||||
6,990,000 | Aaa(a) | Brazosport Independent School District, GO, PSF-GTD-Insured, 5.000% due 2/15/29 | 9,127,042 | |||||||
Central Texas Regional Mobility Authority, Revenue Bonds: | ||||||||||
70,000 | A- | 5.000% due 1/1/31 | 81,936 | |||||||
145,000 | A- | 5.000% due 1/1/32 | 169,176 | |||||||
95,000 | A- | 5.000% due 1/1/35 | 110,460 | |||||||
45,000 | A- | 5.000% due 1/1/36 | 52,299 | |||||||
35,000 | A- | Series A, 5.000% due 1/1/31 | 40,408 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
Texas - 12.3% - (continued) | ||||||||||
$ | 30,000 | A- | Series A, 5.000% due 1/1/32 | $ | 34,534 | |||||
60,000 | A- | Series A, 5.000% due 1/1/34 | 68,854 | |||||||
160,000 | A- | Series A, 5.000% due 1/1/40 | 183,510 | |||||||
600,000 | A- | Series B, 4.000% due 1/1/41 | 716,178 | |||||||
375,000 | A- | Series B, 5.000% due 1/1/29 | 481,089 | |||||||
1,800,000 | A- | Series E, 5.000% due 1/1/38 | 2,288,635 | |||||||
45,000 | AA | City of Arlington TX, Special Tax, Series C, 5.000% due 2/15/45 | 45,130 | |||||||
1,770,000 | AAA | City of Austin TX, GO, 5.000% due 5/1/27 | 2,215,876 | |||||||
City of Austin TX Airport System Revenue, Revenue Bonds: | ||||||||||
165,000 | A | 5.000% due 11/15/26(c) | 189,402 | |||||||
80,000 | A | 5.000% due 11/15/29(c) | 91,183 | |||||||
45,000 | AA | City of Austin TX Electric Utility Revenue, Revenue Bonds, Series A, 5.000% due 11/15/23 | 48,226 | |||||||
City of Dallas TX, GO: | ||||||||||
130,000 | AA- | 5.000% due 2/15/23 | 134,415 | |||||||
170,000 | AA- | 5.000% due 2/15/24 | 191,586 | |||||||
3,000,000 | AAA | City of Dallas TX Waterworks & Sewer System Revenue, Revenue Bonds, Series A, 5.000% due 10/1/27 | 3,571,227 | |||||||
City of Houston TX, GO: | ||||||||||
2,000,000 | AA | Series A, 5.000% due 3/1/22 | 2,073,590 | |||||||
60,000 | Aa3(a) | Series A, 5.000% due 3/1/23 | 65,126 | |||||||
290,000 | Aa3(a) | Series A, 5.000% due 3/1/24 | 327,647 | |||||||
120,000 | Aa3(a) | Series A, 5.000% due 3/1/25 | 140,421 | |||||||
City of Houston TX Airport System Revenue, Revenue Bonds: | ||||||||||
50,000 | A1(a) | Series A, 5.000% due 7/1/26(c) | 60,422 | |||||||
60,000 | A1(a) | Series A, 5.000% due 7/1/27(c) | 74,321 | |||||||
30,000 | A1(a) | Series A, 5.000% due 7/1/28(c) | 37,994 | |||||||
350,000 | A | Series A, Prerefunded 7/01/22 @ 100, 5.000% due 7/1/23(c)(d) | 367,732 | |||||||
90,000 | A1(a) | Series B, 5.000% due 7/1/28 | 115,112 | |||||||
360,000 | A1(a) | Series B, 5.000% due 7/1/29 | 458,513 | |||||||
190,000 | A1(a) | Series B, 5.000% due 7/1/30 | 241,150 | |||||||
1,500,000 | A1(a) | Series D, 5.000% due 7/1/25 | 1,770,392 | |||||||
2,005,000 | A1(a) | Series D, 5.000% due 7/1/26 | 2,438,542 | |||||||
City of Houston TX Combined Utility System Revenue, Revenue Bonds: | ||||||||||
250,000 | Aa2(a) | Series B, 4.000% due 11/15/21 | 254,443 | |||||||
70,000 | Aa2(a) | Series B, 5.000% due 11/15/33 | 85,539 | |||||||
75,000 | AA | Series C, 5.000% due 5/15/28 | 84,840 | |||||||
355,000 | Aa2(a) | Series C, 5.000% due 11/15/30 | 479,793 | |||||||
1,040,000 | AAA | City of Irving TX, GO, 5.500% due 8/15/23 | 1,161,397 | |||||||
City of San Antonio TX Airport System, Revenue Bonds: | ||||||||||
500,000 | A- | Series A, 5.000% due 7/1/27(c) | 619,345 | |||||||
480,000 | A | Series A, 5.000% due 7/1/28(c) | 607,910 | |||||||
City of San Antonio TX Electric & Gas Systems Revenue, Revenue Bonds: | ||||||||||
1,000,000 | A+ | 1.750% due 2/1/49(b) | 1,047,659 | |||||||
45,000 | AA- | 5.000% due 2/1/29 | 56,253 | |||||||
30,000 | AA- | 5.000% due 2/1/30 | 37,474 | |||||||
45,000 | AA- | 5.000% due 2/1/31 | 56,126 | |||||||
35,000 | AA- | 5.000% due 2/1/33 | 43,446 | |||||||
90,000 | AA- | 5.250% due 2/1/25 | 105,870 | |||||||
1,500,000 | A+ | Series 2019, 2.750% due 2/1/48(b) | 1,554,629 | |||||||
205,000 | A+ | Series B, 2.000% due 2/1/33(b) | 205,257 | |||||||
Comal Independent School District, GO, PSF-GTD: | ||||||||||
3,000,000 | Aaa(a) | 5.000% due 2/1/27 | 3,718,487 | |||||||
2,000,000 | Aaa(a) | 5.000% due 2/1/28 | 2,542,465 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
Texas - 12.3% - (continued) | ||||||||||
County of Harris TX, Revenue Bonds: | ||||||||||
$ | 30,000 | AA- | Series C, 5.000% due 8/15/24 | $ | 31,676 | |||||
110,000 | AA- | Series C, 5.000% due 8/15/25 | 116,103 | |||||||
County of Travis TX, GO: | ||||||||||
85,000 | AAA | Series A, 5.000% due 3/1/24 | 95,660 | |||||||
1,490,000 | AAA | Series A, 5.000% due 3/1/38 | 1,896,721 | |||||||
2,215,000 | AAA | County of Williamson TX, GO, 5.000% due 2/15/30 | 2,739,736 | |||||||
Cypress-Fairbanks Independent School District, GO, PSF-GTD: | ||||||||||
1,975,000 | AAA | 4.000% due 2/15/32 | 2,253,877 | |||||||
145,000 | AAA | 5.000% due 2/15/22 | 149,976 | |||||||
145,000 | AAA | 5.000% due 2/15/23 | 156,973 | |||||||
725,000 | AAA | 5.000% due 2/15/24 | 817,690 | |||||||
620,000 | AAA | 5.000% due 2/15/25 | 725,392 | |||||||
105,000 | AAA | 5.000% due 2/15/27 | 126,366 | |||||||
210,000 | AA+ | Dallas Area Rapid Transit, Revenue Bonds, AMBAC-Insured, 5.250% due 12/1/29 | 281,821 | |||||||
185,000 | A2(a) | Dallas County Utility & Reclamation District, GO, 5.000% due 2/15/24 | 206,998 | |||||||
Dallas Fort Worth International Airport, Revenue Bonds: | ||||||||||
2,590,000 | A | Series A, 5.000% due 11/1/29(c) | 2,759,290 | |||||||
85,000 | A | Series B, 5.000% due 11/1/26(c) | 90,681 | |||||||
35,000 | A | Series B, 5.000% due 11/1/27(c) | 37,324 | |||||||
80,000 | A | Series B, 5.000% due 11/1/28(c) | 85,217 | |||||||
155,000 | A | Series B, 5.000% due 11/1/30(c) | 164,903 | |||||||
330,000 | A | Series B, 5.000% due 11/1/31(c) | 350,794 | |||||||
420,000 | A | Series B, 5.000% due 11/1/32(c) | 446,156 | |||||||
290,000 | A | Series B, 5.000% due 11/1/33(c) | 307,890 | |||||||
70,000 | A | Series B, 5.000% due 11/1/34(c) | 74,277 | |||||||
1,500,000 | A | Series E, 5.000% due 11/1/22(c) | 1,600,698 | |||||||
Dallas Independent School District, GO, PSF-GTD: | ||||||||||
20,000 | Aaa(a) | Series Prerefunded 2/15/22 @ 100, 5.000% due 2/15/36(d) | 20,684 | |||||||
85,000 | Aaa(a) | Series Prerefunded 2/15/22 @100, 5.000% due 2/15/36(b)(d) | 87,926 | |||||||
155,000 | AAA | Fort Bend Independent School District, GO, Series D, PSF-GTD-Insured, 1.500% due 8/1/42(b) | 155,355 | |||||||
Fort Worth Independent School District, GO, PSF-GTD: | ||||||||||
80,000 | AAA | 5.000% due 2/15/22 | 82,774 | |||||||
105,000 | AAA | 5.000% due 2/15/26 | 126,855 | |||||||
Grand Parkway Transportation Corp., Revenue Bonds: | ||||||||||
150,000 | AA+ | Series A, 5.000% due 10/1/31 | 189,019 | |||||||
125,000 | AA+ | Series A, 5.000% due 10/1/32 | 157,420 | |||||||
190,000 | AA+ | Series A, 5.000% due 10/1/33 | 238,961 | |||||||
145,000 | AA+ | Series A, 5.000% due 10/1/34 | 181,995 | |||||||
70,000 | BBB | Series A, 5.125% due 10/1/43 | 74,413 | |||||||
940,000 | WR(a) | Gregg County Health Facilities Development Corp., Revenue Bonds, Series C, Prerefunded 7/1/22 @ 100, 5.000% due 7/1/42(d) | 988,676 | |||||||
Harris County Cultural Education Facilities Finance Corp., Revenue Bonds: | ||||||||||
1,025,000 | A+ | 5.000% due 6/1/24 | 1,164,954 | |||||||
590,000 | A+ | 5.000% due 7/1/49(b) | 657,613 | |||||||
Irving Hospital Authority, Revenue Bonds: | ||||||||||
15,000 | A+ | 5.000% due 10/15/24 | 17,182 | |||||||
20,000 | A+ | 5.000% due 10/15/26 | 24,052 | |||||||
15,000 | A+ | 5.000% due 10/15/27 | 17,901 | |||||||
20,000 | A+ | 5.000% due 10/15/29 | 23,613 | |||||||
30,000 | A+ | 5.000% due 10/15/31 | 35,347 | |||||||
40,000 | A+ | 5.000% due 10/15/35 | 47,057 | |||||||
30,000 | A+ | 5.000% due 10/15/36 | 35,296 | |||||||
35,000 | A+ | 5.000% due 10/15/39 | 41,105 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
Texas - 12.3% - (continued) | ||||||||||
$ | 45,000 | A+ | 5.000% due 10/15/44 | $ | 52,839 | |||||
Lamar Consolidated Independent School District, GO: | ||||||||||
7,280,000 | AAA | PSF-GTD, 5.000% due 2/15/31 | 8,924,659 | |||||||
7,050,000 | AAA | PSF-GTD, 5.000% due 2/15/34 | 8,608,515 | |||||||
1,225,000 | AA+ | Lewisville Independent School District, GO, Series B, 5.000% due 8/15/28 | 1,449,385 | |||||||
Love Field Airport Modernization Corp., Revenue Bonds: | ||||||||||
40,000 | A- | 5.000% due 11/1/30(c) | 46,904 | |||||||
90,000 | A- | 5.000% due 11/1/31(c) | 105,278 | |||||||
Lower Colorado River Authority, Revenue Bonds: | ||||||||||
200,000 | A | 5.000% due 5/15/26 | 241,896 | |||||||
135,000 | A | 5.000% due 5/15/32 | 169,242 | |||||||
70,000 | A | 5.000% due 5/15/34 | 87,525 | |||||||
70,000 | A | 5.000% due 5/15/36 | 86,949 | |||||||
195,000 | A | Series B, 5.000% due 5/15/25 | 228,929 | |||||||
85,000 | A | Series B, 5.000% due 5/15/27 | 99,317 | |||||||
85,000 | A | Series B, 5.000% due 5/15/28 | 99,136 | |||||||
245,000 | A | Series B, 5.000% due 5/15/29 | 285,744 | |||||||
25,000 | A | Series D, 5.000% due 5/15/22 | 26,146 | |||||||
20,000 | A | Series D, 5.000% due 5/15/23 | 21,832 | |||||||
35,000 | A | Series D, 5.000% due 5/15/24 | 39,747 | |||||||
40,000 | A | Series D, 5.000% due 5/15/26 | 46,840 | |||||||
New Hope Cultural Education Facilities Finance Corp., Revenue Bonds: | ||||||||||
60,000 | Aa3(a) | Series A, 5.000% due 8/15/24 | 68,654 | |||||||
45,000 | Aa3(a) | Series A, 5.000% due 8/15/26 | 54,898 | |||||||
45,000 | Aa3(a) | Series A, 5.000% due 8/15/27 | 56,398 | |||||||
70,000 | Aa3(a) | Series A, 5.000% due 8/15/30 | 86,216 | |||||||
Newark Higher Education Finance Corp., Revenue Bonds: | ||||||||||
65,000 | A3(a) | 5.000% due 4/1/27 | 77,057 | |||||||
40,000 | A3(a) | 5.000% due 4/1/28 | 47,214 | |||||||
125,000 | AAA | North East Independent School District, GO, Series B, PSF-GTD-Insured, 1.420% due 8/1/40(b) | 125,270 | |||||||
North Harris County Regional Water Authority, Revenue Bonds: | ||||||||||
30,000 | AA- | 4.000% due 12/15/23 | 31,721 | |||||||
55,000 | AA- | 4.000% due 12/15/24 | 58,120 | |||||||
North Texas Tollway Authority, Revenue Bonds: | ||||||||||
50,000 | A+ | Series A, 5.000% due 1/1/23(f) | 53,804 | |||||||
145,000 | A+ | Series A, 5.000% due 1/1/24(f) | 162,716 | |||||||
35,000 | A+ | Series A, 5.000% due 1/1/30 | 41,469 | |||||||
40,000 | A+ | Series A, 5.000% due 1/1/33 | 48,553 | |||||||
200,000 | A+ | Series A, 5.000% due 1/1/39 | 234,807 | |||||||
30,000 | WD(e) | Series A, Prerefunded 9/1/21 @ 100, 6.000% due 9/1/41(d) | 30,434 | |||||||
185,000 | A | Series B, 5.000% due 1/1/25 | 215,463 | |||||||
290,000 | A+ | Series B, 5.000% due 1/1/29 | 335,618 | |||||||
160,000 | A+ | Series B, 5.000% due 1/1/30 | 185,418 | |||||||
20,000 | A | Series B, 5.000% due 1/1/31 | 23,547 | |||||||
85,000 | A | Series B, 5.000% due 1/1/32 | 102,926 | |||||||
685,000 | Aaa(a) | Northside Independent School District, GO, PSF-GTD-Insured, 2.750% due 8/1/48(b) | 719,600 | |||||||
Permanent University Fund - University of Texas System, Revenue Bonds: | ||||||||||
50,000 | Aaa(a) | Series B, 5.000% due 7/1/22 | 52,652 | |||||||
50,000 | Aaa(a) | Series B, 5.000% due 7/1/29 | 60,035 | |||||||
50,000 | AAA | Rockwall Independent School District, GO, PSF-GTD-Insured, zero coupon, due 2/15/25 | 48,664 | |||||||
1,195,000 | Aaa(a) | San Antonio Independent School District, GO, Series A, PSF-GTD-Insured, 5.000% due 8/1/28 | 1,457,582 | |||||||
San Antonio Public Facilities Corp., Revenue Bonds: | ||||||||||
140,000 | AA+ | 5.000% due 9/15/23 | 148,167 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
Texas - 12.3% - (continued) | ||||||||||
$ | 215,000 | AA+ | 5.000% due 9/15/24 | $ | 227,484 | |||||
270,000 | AA+ | 5.000% due 9/15/25 | 285,570 | |||||||
San Antonio Water System, Revenue Bonds: | ||||||||||
175,000 | NR | 5.000% due 5/15/22 | 183,088 | |||||||
2,000,000 | AA | Series A, 5.000% due 5/15/36 | 2,508,386 | |||||||
390,000 | AA | Series B, 2.000% due 5/1/44(b) | 399,291 | |||||||
San Jacinto Community College District, GO: | ||||||||||
450,000 | AA | 5.000% due 2/15/29 | 584,855 | |||||||
435,000 | AA | 5.000% due 2/15/30 | 575,904 | |||||||
State of Texas, GO: | ||||||||||
110,000 | AAA | 1.850% due 8/1/29(b) | 110,089 | |||||||
360,000 | AAA | 4.000% due 8/1/21(c) | 362,244 | |||||||
3,500,000 | AAA | 5.000% due 8/1/21 | 3,528,203 | |||||||
2,500,000 | AAA | 5.000% due 10/1/24 | 2,838,248 | |||||||
150,000 | AAA | 5.000% due 8/1/26(c) | 172,578 | |||||||
200,000 | AAA | 5.500% due 8/1/26(c) | 248,325 | |||||||
45,000 | AAA | Series A, 5.000% due 8/1/21(c) | 45,354 | |||||||
350,000 | AAA | Series B, 5.000% due 8/1/25(c) | 386,875 | |||||||
40,000 | AAA | Series C, 5.000% due 8/1/21(c) | 40,315 | |||||||
Tarrant County Cultural Education Facilities Finance Corp., Revenue Bonds: | ||||||||||
165,000 | AA | 5.000% due 2/15/25 | 192,450 | |||||||
60,000 | AA | 5.000% due 2/15/34 | 72,209 | |||||||
400,000 | A(e) | Series B, 5.000% due 11/15/40 | 461,538 | |||||||
30,000 | AA- | Series Prerefunded 8/15/23 @ 100, 5.000% due 8/15/25(d) | 33,170 | |||||||
45,000 | AA- | Series Prerefunded 8/15/23 @ 100, 5.000% due 8/15/26(d) | 49,756 | |||||||
45,000 | AA- | Series Prerefunded 8/15/23 @ 100, 5.000% due 8/15/28(d) | 49,756 | |||||||
110,000 | AA- | Series Prerefunded 8/15/23 @ 100, 5.000% due 8/15/33(d) | 121,625 | |||||||
155,000 | A | Series Prerefunded 9/1/23 @ 100, 5.500% due 9/1/43(d) | 173,261 | |||||||
165,000 | AAA | Texas A&M University, Revenue Bonds, Series C, 5.000% due 5/15/23 | 180,655 | |||||||
Texas Department of Housing & Community Affairs, Revenue Bonds: | ||||||||||
410,757 | Aaa(a) | 2.950% due 7/1/36 | 433,265 | |||||||
410,000 | AA+ | Series A, 4.000% due 3/1/50 | 464,780 | |||||||
600,000 | AA+ | Texas Public Finance Authority, Revenue Bonds, 5.000% due 2/1/28 | 761,848 | |||||||
135,000 | Aa2(a) | Texas State University System, Revenue Bonds, Series A, 5.000% due 3/15/29 | 166,784 | |||||||
Texas Water Development Board, Revenue Bonds: | ||||||||||
1,000,000 | AAA | 3.000% due 8/1/21 | 1,004,795 | |||||||
125,000 | AAA | Series A, 5.000% due 4/15/22 | 130,363 | |||||||
180,000 | AAA | Series A, 5.000% due 4/15/25 | 212,186 | |||||||
75,000 | AAA | Series A, 5.000% due 10/15/25 | 89,932 | |||||||
125,000 | AAA | Series A, 5.000% due 4/15/26 | 152,082 | |||||||
190,000 | AAA | Series A, 5.000% due 4/15/29 | 241,015 | |||||||
505,000 | AAA | Series A, 5.000% due 4/15/30 | 638,357 | |||||||
190,000 | AA | University of Houston, Revenue Bonds, Series A, 5.000% due 2/15/30 | 226,576 | |||||||
5,000,000 | AAA | University of Texas System, Revenue Bonds, Series B, 5.000% due 8/15/49 | 7,871,027 | |||||||
Total Texas | 114,750,202 | |||||||||
Utah - 1.3% | ||||||||||
8,000,000 | AA+ | County of Utah UT, Revenue Bonds, 0.050% due 5/15/51(b) | 8,000,000 | |||||||
Salt Lake City Corp. Airport Revenue, Revenue Bonds: | ||||||||||
35,000 | A | Series A, 5.000% due 7/1/26(c) | 42,237 | |||||||
115,000 | A | Series A, 5.000% due 7/1/28(c) | 141,534 | |||||||
155,000 | A | Series A, 5.000% due 7/1/30(c) | 193,134 | |||||||
375,000 | AAA | State of Utah, GO, Series B, 5.000% due 7/1/22 | 394,977 | |||||||
85,000 | A- | Utah Associated Municipal Power Systems, Revenue Bonds, Series A, Prerefunded 9/1/22 @ 100, 5.000% due 9/1/24(d) | 90,190 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
Utah - 1.3% - (continued) | ||||||||||
$ | 2,500,000 | A+ | Utah Transit Authority, Revenue Bonds, Series A, NPFG, 5.000% due 6/15/31 | $ | 3,177,914 | |||||
Total Utah | 12,039,986 | |||||||||
Vermont - 0.2% | ||||||||||
Vermont Student Assistance Corp., Revenue Bonds: | ||||||||||
750,000 | A | Series A, 5.000% due 6/15/29(c) | 929,189 | |||||||
675,000 | A | Series A, 5.000% due 6/15/30(c) | 845,256 | |||||||
Total Vermont | 1,774,445 | |||||||||
Virginia - 2.4% | ||||||||||
195,000 | A+ | Arlington County Industrial Development Authority, Revenue Bonds, 5.000% due 7/1/32 | 257,124 | |||||||
315,000 | AAA | City of Chesapeake VA, GO, Series A, 5.000% due 8/1/34 | 421,581 | |||||||
30,000 | BBB+ | City of Chesapeake VA Chesapeake Expressway Toll Road Revenue, Revenue Bonds, Series A, 5.000% due 7/15/22 | 30,876 | |||||||
2,635,000 | AAA | City of Suffolk VA, GO, Series A, 5.000% due 2/1/27 | 3,285,997 | |||||||
5,000,000 | AAA | Commonwealth of Virginia, GO, Series B, 4.000% due 6/1/24 | 5,381,493 | |||||||
Fredericksburg Economic Development Authority, Revenue Bonds: | ||||||||||
40,000 | A3(a) | 5.000% due 6/15/27 | 45,188 | |||||||
40,000 | A3(a) | 5.000% due 6/15/29 | 44,866 | |||||||
45,000 | A3(a) | 5.000% due 6/15/33 | 50,073 | |||||||
3,180,000 | AA | Hampton Roads Transportation Accountability Commission, Revenue Bonds, Series A, 5.000% due 7/1/35 | 3,954,062 | |||||||
1,065,000 | A- | King George County Economic Development Authority, Revenue Bonds, 2.500% due 6/1/23(b)(c) | 1,111,402 | |||||||
320,000 | AA | Norfolk Economic Development Authority, Revenue Bonds, Series B, 5.000% due 11/1/48(b) | 410,714 | |||||||
Stafford County Economic Development Authority, Revenue Bonds: | ||||||||||
20,000 | A3(a) | 4.000% due 6/15/37 | 22,310 | |||||||
50,000 | A3(a) | 5.000% due 6/15/32 | 59,066 | |||||||
65,000 | A3(a) | 5.000% due 6/15/34 | 76,499 | |||||||
Virginia College Building Authority, Revenue Bonds: | ||||||||||
1,670,000 | AA+ | 5.000% due 2/1/25 | 1,950,633 | |||||||
2,805,000 | AA+ | Series A, 5.000% due 9/1/32 | 3,585,025 | |||||||
165,000 | AA+ | Series D, 5.000% due 2/1/26 | 199,272 | |||||||
265,000 | AA+ | Series E, 5.000% due 2/1/30 | 335,048 | |||||||
305,000 | AA+ | Series E, 5.000% due 2/1/31 | 383,879 | |||||||
360,000 | AA+ | Virginia Commonwealth Transportation Board, Revenue Bonds, Series A, 5.000% due 5/15/30 | 453,723 | |||||||
220,000 | BBB- | Virginia Small Business Financing Authority, Revenue Bonds, 5.000% due 1/1/40(c) | 225,757 | |||||||
Winchester Economic Development Authority, Revenue Bonds: | ||||||||||
60,000 | A+ | 5.000% due 1/1/32 | 69,829 | |||||||
75,000 | A+ | 5.000% due 1/1/33 | 87,318 | |||||||
100,000 | BBB+ | York County Economic Development Authority, Revenue Bonds, Series A, 1.900% due 5/1/33(b) | 102,587 | |||||||
Total Virginia | 22,544,322 | |||||||||
Washington - 3.1% | ||||||||||
60,000 | AA | Chelan County Public Utility District No 1, Revenue Bonds, Series A, NPFG, zero coupon, due 6/1/24 | 58,912 | |||||||
City of Tacoma WA Electric System Revenue, Revenue Bonds: | ||||||||||
30,000 | AA | 5.000% due 1/1/29 | 36,900 | |||||||
35,000 | AA | 5.000% due 1/1/36 | 42,438 | |||||||
3,330,000 | AA+ | County of King WA Sewer Revenue, Revenue Bonds, Series A, 5.000% due 7/1/22 | 3,505,903 | |||||||
Grant County Public Utility District No 2 Priest Rapids Hydroelectric Project, Revenue Bonds: | ||||||||||
30,000 | AA | Series A, 5.000% due 1/1/22 | 30,858 | |||||||
30,000 | AA | Series A, Prerefunded 7/1/22 @ 100, 5.000% due 1/1/23(d) | 31,587 | |||||||
65,000 | AA | Series A, Prerefunded 7/1/22 @ 100, 5.000% due 1/1/24(d) | 68,439 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
Washington - 3.1% - (continued) | ||||||||||
Port of Seattle WA, Revenue Bonds: | ||||||||||
$ | 25,000 | A- | 5.000% due 6/1/23(c) | $ | 27,136 | |||||
35,000 | A+ | 5.000% due 2/1/27 | 41,947 | |||||||
70,000 | A+ | 5.000% due 2/1/29 | 83,752 | |||||||
85,000 | A+ | Series A, 5.000% due 5/1/29(c) | 103,010 | |||||||
1,000,000 | AA- | Series B, 5.000% due 10/1/26(c) | 1,195,081 | |||||||
980,000 | AA- | Series B, 5.000% due 10/1/27(c) | 1,167,593 | |||||||
135,000 | AA- | Series B, 5.000% due 10/1/29(c) | 160,209 | |||||||
State of Washington, GO: | ||||||||||
50,000 | AA+ | Series 2017A, 5.000% due 8/1/27 | 61,300 | |||||||
3,430,000 | AA+ | Series A, 5.000% due 8/1/32 | 4,376,905 | |||||||
5,000,000 | AA+ | Series C, 5.000% due 2/1/33 | 6,463,889 | |||||||
50,000 | AA+ | Series R2017A, 5.000% due 8/1/28 | 61,272 | |||||||
50,000 | AA+ | Series R2017A, 5.000% due 8/1/30 | 61,044 | |||||||
355,000 | AA+ | Series R2018C, 5.000% due 8/1/30 | 443,515 | |||||||
725,000 | AA+ | Series R2018D, 5.000% due 8/1/32 | 904,948 | |||||||
640,000 | AA+ | Series R2018D, 5.000% due 8/1/33 | 798,730 | |||||||
5,000,000 | AA+ | Series R2018D, 5.000% due 8/1/35 | 6,236,047 | |||||||
Tobacco Settlement Authority, Revenue Bonds: | ||||||||||
70,000 | A | 5.000% due 6/1/23 | 76,844 | |||||||
100,000 | A | 5.000% due 6/1/24 | 109,683 | |||||||
Washington Health Care Facilities Authority, Revenue Bonds: | ||||||||||
60,000 | A | 5.000% due 7/1/26 | 72,373 | |||||||
70,000 | AA- | 5.000% due 10/1/27 | 88,159 | |||||||
60,000 | AA- | 5.000% due 10/1/28 | 77,363 | |||||||
40,000 | A+ | 5.000% due 1/1/29 | 46,401 | |||||||
90,000 | A | 5.000% due 7/1/29 | 111,457 | |||||||
20,000 | A | 5.000% due 7/1/34 | 24,363 | |||||||
780,000 | A | 5.000% due 7/1/42 | 936,152 | |||||||
115,000 | AA- | Series A, 5.000% due 10/1/24 | 122,543 | |||||||
440,000 | BBB+ | Series A2, 5.000% due 8/1/39 | 549,409 | |||||||
Washington Higher Education Facilities Authority, Revenue Bonds: | ||||||||||
15,000 | Baa1(a) | Series A, 5.000% due 10/1/29 | 17,801 | |||||||
35,000 | Baa1(a) | Series A, 5.000% due 10/1/30 | 41,310 | |||||||
40,000 | Baa1(a) | Series A, 5.000% due 10/1/31 | 47,069 | |||||||
210,000 | Baa1(a) | Series A, 5.000% due 10/1/33 | 246,144 | |||||||
Total Washington | 28,528,486 | |||||||||
West Virginia - 1.6% | ||||||||||
State of West Virginia, GO: | ||||||||||
9,860,000 | AA- | Series B, 5.000% due 12/1/34 | 12,508,011 | |||||||
2,000,000 | AA- | Series B, 5.000% due 6/1/35 | 2,530,757 | |||||||
190,000 | BBB+ | West Virginia Hospital Finance Authority, Revenue Bonds, 5.000% due 1/1/33 | 235,710 | |||||||
Total West Virginia | 15,274,478 | |||||||||
Wisconsin - 0.3% | ||||||||||
160,000 | A | Public Finance Authority, Revenue Bonds, 5.000% due 1/1/31 | 206,925 | |||||||
Wisconsin Health & Educational Facilities Authority, Revenue Bonds: | ||||||||||
400,000 | A2(a) | 5.000% due 10/1/23 | 441,448 | |||||||
255,000 | A+ | 5.000% due 11/15/24 | 294,607 | |||||||
25,000 | BBB+ | 5.000% due 5/1/26 | 27,745 | |||||||
50,000 | A3(a) | 5.000% due 6/1/27 | 52,213 | |||||||
195,000 | A+ | 5.000% due 11/15/27 | 221,189 | |||||||
50,000 | BBB+ | 5.000% due 5/1/28 | 55,000 | |||||||
25,000 | BBB+ | 5.000% due 5/1/29 | 27,410 | |||||||
30,000 | A3(a) | 5.000% due 6/1/32 | 31,306 | |||||||
70,000 | A3(a) | 5.000% due 6/1/39 | 72,998 |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (continued)
Face Amount | Rating†† | Security | Value | |||||||
MUNICIPAL BONDS - (continued) | ||||||||||
Wisconsin - 0.3% - (continued) | ||||||||||
$ | 1,505,000 | AA | 5.000% due 8/15/54(b) | $ | 1,659,499 | |||||
30,000 | WR(a) | Series B, Prerefunded 7/1/23 @ 100, 5.000% due 7/1/25(d) | 32,995 | |||||||
200,000 | WR(a) | Series B, Prerefunded 7/1/23 @ 100, 5.000% due 7/1/36(d) | 219,966 | |||||||
50,000 | NR | Series C, Prerefunded 8/15/22 @ 100, 5.000% due 8/15/32(d) | 52,913 | |||||||
520,000 | AA | Wisconsin Housing & Economic Development Authority, Revenue Bonds, Series A, 3.500% due 9/1/50 | 575,606 | |||||||
Total Wisconsin | 3,971,820 | |||||||||
TOTAL MUNICIPAL BONDS | ||||||||||
(Cost - $774,523,046) | 815,674,481 | |||||||||
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS | ||||||||||
(Cost - $774,523,046) | 815,674,481 | |||||||||
SHORT-TERM INVESTMENTS - 16.4% | ||||||||||
MUNICIPAL BONDS - 6.2% | ||||||||||
4,000,000 | MIG1(a) | Charleston County School District, GO 4.000% due 5/11/22 | 4,147,225 | |||||||
5,000,000 | SP-1+ | City of Los Angeles CA, Revenue Notes 4.000% due 6/24/21 | 5,011,613 | |||||||
5,000,000 | SP-1+ | County of Ventura CA, Revenue Notes 4.000% due 6/30/21 | 5,015,565 | |||||||
5,750,000 | AA | Georgia State Road & Tollway Authority, Revenue Bonds 5.000% due 6/1/21 | 5,750,000 | |||||||
10,000,000 | MIG1(a) | School District of Broward County, Revenue Notes 2.000% due 6/30/21 | 10,013,691 | |||||||
15,000,000 | SP-1+ | State of Colorado, Revenue Notes 4.000% due 6/25/21 | 15,037,761 | |||||||
12,500,000 | SP-1+ | State of Texas, Revenue Notes 4.000% due 8/26/21 | 12,615,948 | |||||||
TOTAL MUNICIPAL BONDS | ||||||||||
(Cost - $57,587,049) | 57,591,803 | |||||||||
TIME DEPOSITS - 10.2% | ||||||||||
17,673,481 | ANZ National Bank - London, 0.005% due 6/1/21 | 17,673,481 | ||||||||
8,818,772 | DnB NORBank ASA - Oslo, 0.005% due 6/1/21 | 8,818,772 | ||||||||
68,081,524 | Skandinaviska Enskilda Banken AB - Stockholm, 0.005% due 6/1/21 | 68,081,524 | ||||||||
TOTAL TIME DEPOSITS | ||||||||||
(Cost - $94,573,777) | 94,573,777 | |||||||||
TOTAL SHORT-TERM INVESTMENTS | ||||||||||
(Cost - $152,160,826) | 152,165,580 | |||||||||
TOTAL INVESTMENTS - 104.0% | ||||||||||
(Cost - $926,683,872) | 967,840,061 | |||||||||
Liabilities in Excess of Other Assets - (4.0)% | (37,123,616 | ) | ||||||||
TOTAL NET ASSETS - 100.0% | $ | 930,716,445 |
# | May 28, 2021 represents the last business day of the Fund’s fiscal first quarter. |
†† | All ratings are by Standard & Poor's Rating Service, unless otherwise noted. |
(a) | Rating by Moody's Investors Service. |
(b) | Variable rate security. Interest rate disclosed is that which was in effect at May 28, 2021. |
(c) | Income from this issue is considered a preference item for purposes of calculating the alternative minimum tax (AMT). |
(d) | Pre-refunded bonds are escrowed with government obligations and/or government agency securities and are considered by the Manager to be triple-A rated even if the issuer has not applied for new ratings. |
(e) | Rating by Fitch Ratings Service. |
(f) | Illiquid security. The aggregate value of illiquid holdings at May 28, 2021, amounts to $426,568 and represents 0.05% of net assets. |
(g) | Restricted security that may be sold to “qualified institutional buyers” pursuant to the conditions of Rule 144A under the Securities Act of 1933, as amended. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees, unless otherwise noted. The aggregate value of restricted 144A holdings at May 28, 2021, amounts to approximately $162,130 and represents 0.02% of net assets. |
(h) | All or a portion of this security is pledged by the Fund as collateral for buy trades with long settlements. |
See Notes to Financial Statements.
Schedules of Investments
May 28, 2021# (unaudited)
Destinations Municipal Fixed Income Fund (concluded)
Abbreviations used in this schedule: | ||
AGM | — | Assured Guaranty Municipal Corporation |
AMBAC | — | American Bond Assurance Corporation |
COP | — | Certificate of Participation |
GO | — | General Obligation |
LIBOR | — | London Interbank Offered Rate |
LLC | — | Limited Liability Company |
MTA | — | Metropolitan Transportation Authority |
NPFG | — | National Public Finance Guarantee Corporation |
PSF-GTD | — | Permanent School Fund Guaranteed |
Summary of Investments by Security Industry^ | ||||
General Obligation | 39.8 | % | ||
Education | 15.6 | |||
Health Care Providers & Services | 7.3 | |||
Transportation | 7.0 | |||
Water and Sewer | 6.0 | |||
Airport | 3.5 | |||
Power | 1.5 | |||
Development | 1.2 | |||
Single Family Housing | 0.9 | |||
Utilities | 0.6 | |||
Student Loan | 0.4 | |||
Pollution | 0.2 | |||
Multifamily Housing | 0.1 | |||
Nursing Homes | 0.1 | |||
Tobacco Settlement | 0.1 | |||
Bond Bank | 0.0 | * | ||
Facilities | 0.0 | * | ||
Short-Term Investments | 15.7 | |||
100.0 | % |
^ | As a percentage of total investments. |
* | Position represents less than 0.05%. |
See Notes to Financial Statements.
Ratings (unaudited)
The definitions of the applicable rating symbols are set forth below:
Standard & Poor’s Ratings Service (“Standard & Poor’s”) — Ratings from “AA” to “CCC” may be modified by the addition of a plus (+) or minus (-) sign to show relative standings within the major rating categories.
AAA — Bonds rated “AAA” have the highest rating assigned by Standard & Poor’s. Capacity to pay interest and repay principal is extremely strong.
AA — Bonds rated “AA” have a very strong capacity to pay interest and repay principal and differ from the highest rated issues only in a small degree.
A — Bonds rated “A” have a strong capacity to pay interest and repay principal although they are somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than debt in higher rated categories.
BBB — Bonds rated “BBB” are regarded as having an adequate capacity to pay interest and repay principal. Whereas they normally exhibit adequate protection parameters, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity to pay interest and repay principal for bonds in this category than in higher rated categories.
BB, B, CCC, CC and C — Bonds rated “BB”, “B”, “CCC”, “CC” and “C” are regarded, on balance, as predominantly speculative with respect to capacity to pay interest and repay principal in accordance with the terms of the obligation. “BB” represents the lowest degree of speculation and “C” the highest degree of speculation. While such bonds will likely have some quality and protective characteristics, these are outweighed by large uncertainties or major risk exposures to adverse conditions.
D — Bonds rated “D” are in default and payment of interest and/or repayment of principal is in arrears.
P — Preliminary rating.
u — The upgrade state defines bonds that have recently been upgraded into higher rating categories.
Moody’s Investors Service (“Moody’s”) — Numerical modifiers 1, 2 and 3 may be applied to each generic rating from “Aa” to “Caa,” where 1 is the highest and 3 the lowest ranking within its generic category.
Aaa — Bonds rated “Aaa” are judged to be of the best quality. They carry the smallest degree of investment risk and are generally referred to as “gilt edge.” Interest payments are protected by a large or by an exceptionally stable margin and principal is secure. While the various protective elements are likely to change, such changes as can be visualized are most unlikely to impair the fundamentally strong position of such issues.
Aa — Bonds rated “Aa” are judged to be of high quality by all standards. Together with the “Aaa” group they comprise what are generally known as high grade bonds. They are rated lower than the best bonds because margins of protection may not be as large as in “Aaa” securities or fluctuation of protective elements may be of greater amplitude or there may be other elements present which make the long-term risks appear somewhat larger than in “Aaa” securities.
A — Bonds rated “A” possess many favorable investment attributes and are to be considered as upper medium grade obligations. Factors giving security to principal and interest are considered adequate but elements may be present which suggest a susceptibility to impairment some time in the future.
Ratings (unaudited) (continued)
Baa — Bonds rated “Baa” are considered as medium grade obligations, i.e., they are neither highly protected nor poorly secured. Interest payments and principal security appear adequate for the present but certain protective elements may be lacking or may be characteristically unreliable over any great length of time. Such bonds lack outstanding investment characteristics and in fact have speculative characteristics as well.
Ba — Bonds rated “Ba” are judged to have speculative elements; their future cannot be considered as well assured. Often the protection of interest and principal payments may be very moderate and therefore not well safeguarded during both good and bad times over the future. Uncertainty of position characterizes bonds in this class.
B — Bonds rated “B” generally lack characteristics of desirable investments. Assurance of interest and principal payments or of maintenance of other terms of the contract over any long period of time may be small.
Caa — Bonds rated “Caa” are of poor standing. These may be in default, or present elements of danger may exist with respect to principal or interest.
Ca — Bonds rated “Ca” represent obligations which are speculative in a high degree. Such issues are often in default or have other marked short-comings.
C — Bonds rated “C” are the lowest class of bonds and issues so rated can be regarded as having extremely poor prospects of ever attaining any real investment standing.
e — Expected.
u — Upgraded.
Fitch Ratings Service (“Fitch”) — Ratings from “AA” to “CCC” may be modified by the addition of a plus (+) or minus (-) sign to show relative standings within the major rating categories.
AAA — Bonds rated “AAA” have the highest rating assigned by Fitch. Capacity to pay interest and repay principal is extremely strong.
AAApre — Stable Outlook rating is based on the pledge of securities in the escrow deposit fund securing the bonds and reflects the lien of the refunded bondholders on the escrow trust funds and that all amounts have been invested in direct non-callable obligations of the United States.
AA — Bonds rated “AA” have a very strong capacity to pay interest and repay principal and differ from the highest rated issues only in a small degree.
A — Bonds rated “A” have a strong capacity to pay interest and repay principal although they are somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than debt in higher rated categories.
BBB — Bonds rated “BBB” are regarded as having an adequate capacity to pay interest and repay principal. Whereas they normally exhibit adequate protection parameters, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity to pay interest and repay principal for bonds in this category than in higher rated categories.
BB, B, CCC, CC and C — Bonds rated “BB”, “B”, “CCC”, “CC” and “C” are regarded, on balance, as predominantly speculative with respect to capacity to pay interest and repay principal in accordance with the terms of the obligation. “BB” represents a lower degree of speculation than “B”, and “CC” the highest degree of speculation. While such bonds will likely have some quality and protective characteristics, these are outweighed by large uncertainties or major risk exposures to adverse conditions.
Ratings (unaudited) (concluded)
D — Bonds rated “D” are in default and payment of interest and/or repayment of principal is in arrears.
NR — Indicates that the bond is not rated by Standard & Poor’s, Moody’s, or Fitch.
WD, WR — Indicates that the bonds rating has been withdrawn and the issuer is no longer rated by Standard & Poor’s, Moody’s or Fitch.
Short-Term Security Ratings
SP-1 — Standard & Poor’s highest rating indicating very strong or strong capacity to pay principal and interest; those issues determined to possess overwhelming safety characteristics are denoted with a plus (+) sign.
A-1 — Standard & Poor’s highest commercial paper and variable-rate demand obligation (VRDO) rating indicating that the degree of safety regarding timely payment is either overwhelming or very strong; those issues
determined to possess overwhelming safety characteristics are denoted with a plus (+) sign.
VMIG 1 — Moody’s highest rating for issues having a demand feature — VRDO.
MIG1 — Moody’s highest rating for short-term municipal obligations.
P-1 — Moody’s highest rating for commercial paper and for VRDO prior to the advent of the VMIG 1 rating.
F-1 — Fitch’s highest rating indicating the strongest capacity for timely payment of financial commitments; those issues determined to possess overwhelming strong credit feature are denoted with a plus (+) sign.
F-2 — Fitch’s rating indicating a good capacity for timely payment of financial commitments.
Notes to Financial Statements
May 28, 2021 (unaudited)
1. Organization
Brinker Capital Destinations Trust (“Trust”) is organized as a Delaware statutory trust and registered under the Investment Company Act of 1940, as amended (“1940 Act”), as an open-end management investment company. The Trust currently consists of Destinations Large Cap Equity Fund, Destinations Small-Mid Cap Equity Fund, Destinations International Equity Fund, Destinations Equity Income Fund, Destinations Core Fixed Income Fund, Destinations Low Duration Fixed Income Fund, Destinations Global Fixed Income Opportunities Fund, Destinations Municipal Fixed Income Fund and Destinations Multi Strategy Alternatives Fund (individually, a “Fund” and collectively, the “Funds”). Each Fund currently offers two classes of shares designated as Class I and Class Z shares. Class Z commenced operations on July 16, 2018.
Brinker Capital Investments, LLC (“Brinker Capital” or the “Adviser”), serves as the investment adviser for the Funds. The Funds employ a multimanager strategy. The Adviser selects and oversees professional money managers (each a “Sub-adviser”) who are responsible for investing the assets of the Funds allocated to them.
2. Investment valuation
Equity securities for each Fund for which market quotations are readily available and are traded on an exchange are valued at the closing sale price or official closing price on the exchange on which such security is principally traded. In the event there are no sales that day, such securities are valued at the bid price. For equity securities that are primarily traded on foreign exchanges, these values are converted to U.S. dollars using the current exchange rates as of the close of the New York Stock Exchange (“NYSE”).
Futures contracts are valued at the settlement price in the market where such contracts are principally traded. Foreign currency forward contracts are valued at the current Business Day’s interpolated foreign exchange rate, as calculated using the current day’s spot rate, and the thirty, sixty, ninety and one-hundred eighty day forward rates provided by an independent source.
Portfolio securities traded in the over-the-counter market for which market quotations are readily available are valued at the last sales price that day. In the event there are no sales that day, such securities are valued at the bid price. Investments in registered open-end management investment companies are valued at reported net asset value per share.
Securities pledged by the Funds as collateral, if any, are identified as such in the Schedules of Investments.
Debt obligations that will mature in 60 days or less are valued at amortized cost, which approximates market value. Debt obligations that will mature in more than 60 days are valued using valuations furnished by an approved third-party pricing service; such valuations are determined by the third-party pricing service based upon its analysis of a variety of factors, including transactions in debt obligations, quotations from bond dealers, market transactions in comparable securities and its analysis of various relationships between securities, prices or yields of securities with similar characteristics, benchmark curves or information pertaining to the issuer, as well as industry and economic events.
The Board of Trustees (the “Board”) has ultimate responsibility for ensuring the Funds’ investments are valued appropriately. The Board has delegated primary responsibility for determining or causing to be determined the value of the Funds’ investments (including any fair valuation) to the Adviser pursuant to valuation policies and procedures approved by the Board. When market quotations are not readily available or are determined to be unreliable, investments are valued at fair value as determined in good faith by the valuation committee established by the Adviser in accordance with such procedures under the oversight of the Board. Circumstances that may indicate that market quotations are not readily available or are unreliable include, but are not limited to, such instances when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, and before the applicable Fund calculates its Net Asset Value (“NAV”).
Each business day, the Funds use a Board-approved third-party pricing service to assist with the valuation of foreign equity securities. Events occurring after the close of trading on foreign exchanges may result in adjustments to the valuation of foreign securities to reflect market trading that occurs after the close of the applicable foreign markets of comparable securities or other instruments that have a strong correlation to the fair-valued securities to more accurately reflect their fair value as of the close of regular trading on the NYSE.
The Funds disclose the fair value of their investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. The hierarchy prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities that segregates fair value measurements into levels (Level 1, 2, and 3). The three levels of the fair value hierarchy are as follows:
Level 1— | unadjusted quoted prices in active markets for identical securities. |
Level 2— | significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) |
Level 3— | significant unobservable inputs (including assumptions made by the Board or persons acting at their direction that are used in determining the fair value of investments.) |
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following are certain inputs and techniques that the Funds generally use to evaluate how to classify each major category of assets and liabilities in accordance with GAAP.
Fixed income securities including corporate, convertible and municipal bonds and notes, U.S. government agencies, U.S. treasury obligations, sovereign bonds, bank loans, convertible preferred securities and non-U.S. bonds are normally valued by third-party pricing service providers that use broker quotations, reported trades or valuation estimates from their internal pricing models. The service providers’ internal models use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar assets. Securities that use similar valuation techniques and inputs as described above are categorized as Level 2 of the fair value hierarchy. To the extent that these inputs are significant and unobservable, the values are categorized as Level 3 of the fair value hierarchy.
Mortgage-related and asset-backed securities are usually issued as separate tranches, or classes, of securities within each deal. These securities are also normally valued by third-party pricing service providers that use broker-dealer quotations or valuation estimates from their internal pricing models. The pricing models for these securities usually consider tranche-level attributes, current market data, estimated cash flows and market-based yield spreads for each tranche, and incorporate deal collateral performance, as available. Mortgage-related and asset-backed securities and the related forward sales commitments that use similar valuation techniques and inputs as described above are categorized as Level 2 of the fair value hierarchy. To the extent that these inputs are significant and unobservable, the values are categorized as Level 3 of the fair value hierarchy.
Common stocks, preferred stocks, rights, warrants, exchange-traded funds and financial derivative instruments, such as futures contracts or options contracts that are traded on a national securities exchange, are categorized as Level 1 of the fair value hierarchy, to the extent these securities are actively traded and valuation adjustments are not applied.
Valuation adjustments may be applied to certain securities that are solely traded on a foreign exchange to account for the market movement between the close of the foreign market and the NYSE close. Securities using these valuation adjustments are categorized as Level 2 of the fair value hierarchy. Preferred securities and other equities traded on inactive markets or valued by reference to similar instruments are also categorized as Level 2 of the fair value hierarchy.
Investments in registered open-end investment management companies are valued based upon the NAVs of such investments on the valuation date and are categorized as Level 1 of the fair value hierarchy.
Short-term investments having a maturity of 60 days or less are generally valued at amortized cost which approximates fair market value. These investments are categorized as Level 2 of the fair value hierarchy.
Over-the-counter financial derivative instruments, such as forward foreign currency contracts, derive their value from underlying asset prices, indices, reference rates, and other inputs or a combination of these factors. These contracts are normally valued on the basis of broker dealer quotations or by third-party pricing service providers. Depending on the product and the terms of the transaction, the value of financial derivatives can be estimated by a third-party pricing service provider using a series of techniques, including simulation pricing models. The pricing models use inputs that are observed from actively quoted markets such as issuer details, indices, spreads, interest rates, yield curves, dividends and exchange rates. Financial derivatives that use similar valuation techniques and inputs as described above are categorized as Level 2 of the fair value hierarchy. To the extent that these inputs are significant and unobservable, the values are categorized as Level 3 of the fair value hierarchy.
Centrally cleared swaps listed or traded on the multilateral or trade facility platform, such as a registered exchange, are valued at the daily settlement price determined by the respective exchange. For centrally cleared credit default swaps, the clearing facility requires its members to provide actionable levels across complete term structures. These levels along with external third party prices are used to produce daily settlement prices. Centrally cleared interest rate swaps are valued using a pricing model that references the underlying rates including the overnight index swap rate and London Interbank Offered Rate (“LIBOR”) forward rate to produce the daily settlement price. These securities are categorized as Level 2 of the fair value hierarchy.
In some instances, the inputs used to measure fair value might fall in different levels of the fair value hierarchy. The level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.
The following table summarizes the valuation of each Fund’s assets and liabilities using the fair value hierarchy:
Total Fair Value at May 28, 2021 | Unadjusted Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | |||||||||||||
Destinations Large Cap Equity Fund | ||||||||||||||||
Investments, at value | ||||||||||||||||
Common Stocks: | ||||||||||||||||
Basic Materials | $ | 136,183,143 | $ | 136,183,143 | $ | – | $ | – | ||||||||
Communications | 955,224,765 | 955,224,765 | – | – | ||||||||||||
Consumer Cyclical | 321,893,175 | 321,893,175 | – | – | ||||||||||||
Consumer Non-cyclical | 1,188,865,715 | 1,188,865,715 | – | – | ||||||||||||
Energy | 155,503,779 | 155,503,779 | – | – | ||||||||||||
Financial | 678,973,934 | 672,148,328 | – | 6,825,606 | ||||||||||||
Industrial | 426,877,001 | 425,766,812 | – | 1,110,189 | ||||||||||||
Technology | 934,951,138 | 924,096,725 | 6,524,706 | 4,329,707 | ||||||||||||
Utilities | 83,609,233 | 83,609,233 | – | – | ||||||||||||
Preferred Stocks | 32,940,773 | – | – | 32,940,773 | ||||||||||||
Exchange Traded Fund (ETF) | 2,669,602 | 2,669,602 | – | – | ||||||||||||
Short-Term Investments: | ||||||||||||||||
Time Deposits | 54,287,942 | – | 54,287,942 | – | ||||||||||||
Money Market Fund | 7,368,489 | 7,368,489 | – | – | ||||||||||||
Total Investments, at value | $ | 4,979,348,689 | $ | 4,873,329,766 | $ | 60,812,648 | $ | 45,206,275 | ||||||||
Other Financial Instruments - Assets | ||||||||||||||||
Futures Contracts | $ | 212,024 | $ | 212,024 | $ | – | $ | – | ||||||||
Total Other Financial Instruments - Assets | $ | 212,024 | $ | 212,024 | $ | – | $ | – |
Total Fair Value at May 28, 2021 | Unadjusted Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | |||||||||||||
Destinations Small-Mid Cap Equity Fund | ||||||||||||||||
Investments, at value | ||||||||||||||||
Common Stocks | $ | 1,234,274,835 | $ | 1,234,274,835 | $ | – | $ | – | ||||||||
Exchange Traded Funds (ETFs) | 50,222,169 | 50,222,169 | – | – | ||||||||||||
Short-Term Investments: | ||||||||||||||||
Time Deposits | 26,366,048 | – | 26,366,048 | – | ||||||||||||
Money Market Fund | 40,509,138 | 40,509,138 | – | – | ||||||||||||
Total Investments, at value | $ | 1,351,372,190 | $ | 1,325,006,142 | $ | 26,366,048 | $ | – |
Total Fair Value at May 28, 2021 | Unadjusted Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | |||||||||||||
Destinations Equity Income Fund | ||||||||||||||||
Investments, at value | ||||||||||||||||
Common Stocks | $ | 387,806,104 | $ | 387,806,104 | $ | – | $ | – | ||||||||
Convertible Preferred Stocks | 4,921,778 | 4,921,778 | – | – | ||||||||||||
Exchange Traded Funds (ETFs) | 37,831,764 | 37,831,764 | – | – | ||||||||||||
Short-Term Investments: | ||||||||||||||||
Corporate Note | 847,637 | – | 847,637 | – | ||||||||||||
Time Deposits | 2,539,398 | – | 2,539,398 | – | ||||||||||||
Money Market Fund | 2,094,168 | 2,094,168 | – | – | ||||||||||||
Total Investments, at value | $ | 436,040,849 | $ | 432,653,814 | $ | 3,387,035 | $ | – |
Total Fair Value at May 28, 2021 | Unadjusted Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | |||||||||||||
Destinations International Equity Fund | ||||||||||||||||
Investments, at value | ||||||||||||||||
Common Stocks: | ||||||||||||||||
Australia | $ | 13,521,673 | $ | – | $ | 13,521,673 | $ | – | ||||||||
Austria | 6,364,273 | – | 6,364,273 | – | ||||||||||||
Bermuda | 5,131,435 | 3,099,943 | 2,031,492 | – | ||||||||||||
Brazil | 62,329,059 | 27,903,825 | 34,425,234 | – | ||||||||||||
Canada | 70,097,521 | 9,062,534 | 61,034,987 | – | ||||||||||||
China | 254,733,014 | 64,903,055 | 189,829,959 | – | ||||||||||||
Cyprus | 7,971,308 | 3,963,692 | 4,007,616 | – | ||||||||||||
Denmark | 20,233,999 | – | 20,233,999 | – | ||||||||||||
Egypt | 16,959,222 | – | 16,959,222 | – | ||||||||||||
Finland | 10,817,021 | – | 10,817,021 | – | ||||||||||||
France | 185,216,757 | – | 185,216,757 | – | ||||||||||||
Germany | 151,261,321 | – | 151,261,321 | – | ||||||||||||
Greece | 5,111,896 | – | 5,111,896 | – | ||||||||||||
Hong Kong | 41,593,542 | 1,782,188 | 39,811,354 | – | ||||||||||||
Hungary | 5,913,011 | – | 5,913,011 | – | ||||||||||||
India | 219,832,659 | 1,576,278 | 217,826,904 | 429,477 | ||||||||||||
Indonesia | 19,513,063 | – | 19,513,063 | – | ||||||||||||
Ireland | 18,281,336 | 5,541,188 | 12,740,148 | – | ||||||||||||
Israel | 13,642,623 | 4,005,222 | 9,637,401 | – | ||||||||||||
Italy | 19,020,597 | – | 19,020,597 | – | ||||||||||||
Japan | 375,881,383 | – | 375,881,383 | – | ||||||||||||
Jersey, Channel Islands | 6,970,726 | – | 6,970,726 | – | ||||||||||||
Mexico | 24,115,030 | – | 24,115,030 | – | ||||||||||||
Netherlands | 76,292,342 | 7,999,107 | 68,293,235 | – | ||||||||||||
Norway | 22,291,457 | – | 22,291,457 | – | ||||||||||||
Philippines | 14,829,529 | – | 14,829,529 | – | ||||||||||||
Poland | 10,879,165 | – | 10,879,165 | – | ||||||||||||
Portugal | 18,144,484 | – | 18,144,484 | – | ||||||||||||
Russia | 40,476,777 | 23,218,826 | 14,627,164 | 2,630,787 | ||||||||||||
Singapore | 4,184,074 | – | 4,184,074 | – | ||||||||||||
South Africa | 21,373,308 | – | 21,373,308 | – | ||||||||||||
South Korea | 104,983,840 | – | 104,983,840 | – | ||||||||||||
Spain | 10,233,689 | – | 10,233,689 | – | ||||||||||||
Sweden | 38,443,601 | – | 38,443,601 | – | ||||||||||||
Switzerland | 154,531,891 | – | 154,531,891 | – | ||||||||||||
Taiwan | 107,667,679 | 43,732,444 | 63,935,235 | – | ||||||||||||
Thailand | 14,140,764 | – | 14,140,764 | – | ||||||||||||
United Arab Emirates | 7,600,374 | – | 7,600,374 | – | ||||||||||||
United Kingdom | 237,648,356 | 10,559,788 | 227,084,173 | 4,395 | ||||||||||||
United States | 76,345,452 | 76,133,505 | – | 211,947 | ||||||||||||
Exchange Traded Funds (ETFs) | 122,538,506 | 122,538,506 | – | – | ||||||||||||
Warrant | 62,164 | 62,164 | – | – | ||||||||||||
Short-Term Investments: | ||||||||||||||||
Time Deposits | 94,793,177 | – | 94,793,177 | – | ||||||||||||
Money Market Fund | 101,299,111 | 101,299,111 | – | – | ||||||||||||
Total Investments, at value | $ | 2,833,272,209 | $ | 507,381,376 | $ | 2,322,614,227 | $ | 3,276,606 | ||||||||
Other Financial Instruments - Assets | ||||||||||||||||
Forward Foreign Currency Contracts | $ | 826,664 | $ | – | $ | 826,664 | $ | – | ||||||||
Total Other Financial Instruments - Assets | $ | 826,664 | $ | – | $ | 826,664 | $ | – | ||||||||
Other Financial Instruments - Liabilites | ||||||||||||||||
Options Contracts Written | $ | (18,357 | ) | $ | (4,082 | ) | $ | (14,275 | ) | $ | – | |||||
Total Other Financial Instruments - Liabilities | $ | (18,357 | ) | $ | (4,082 | ) | $ | (14,275 | ) | $ | – |
Total Fair Value at May 28, 2021 | Unadjusted Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | |||||||||||||
Destinations Core Fixed Income Fund | ||||||||||||||||
Investments, at value | ||||||||||||||||
Corporate Bonds & Notes | $ | 583,741,814 | $ | – | $ | 583,741,814 | $ | – | ||||||||
Collateralized Mortgage Obligations | 507,465,885 | – | 507,465,885 | – | ||||||||||||
U.S. Government Agencies & Obligations | 487,194,940 | – | 487,194,940 | – | ||||||||||||
Mortgage-Backed Securities | 433,433,705 | – | 433,433,705 | – | ||||||||||||
Asset-Backed Securities | 190,072,166 | – | 190,072,166 | – | ||||||||||||
Sovereign Bonds | 23,732,762 | – | 23,732,762 | – | ||||||||||||
Senior Loans | 23,509,549 | – | 23,509,549 | – | ||||||||||||
Municipal Bonds | 1,080,037 | – | 1,080,037 | – | ||||||||||||
Exchange Traded Fund (ETF) | 29,346,679 | 29,346,679 | – | – | ||||||||||||
Common Stocks: | ||||||||||||||||
Communications | 47,087 | 47,087 | – | – | ||||||||||||
Diversified | 30,791 | – | 30,791 | – | ||||||||||||
Energy | 175,768 | 170,776 | 4,992 | – | ||||||||||||
Industrial | 1,515 | 1,515 | – | – | ||||||||||||
Short-Term Investments: | ||||||||||||||||
Time Deposits | 133,463,787 | – | 133,463,787 | – | ||||||||||||
Total Investments, at value | $ | 2,413,296,485 | $ | 29,566,057 | $ | 2,383,730,428 | $ | – | ||||||||
Other Financial Instruments - Assets | ||||||||||||||||
Futures Contracts | $ | 48,835 | $ | 48,835 | $ | – | $ | – | ||||||||
Total Other Financial Instruments - Assets | $ | 48,835 | $ | 48,835 | $ | – | $ | – | ||||||||
Other Financial Instruments - Liabilities | ||||||||||||||||
Forward Sale Commitments | $ | (9,151,669 | ) | $ | – | $ | (9,151,669 | ) | $ | – | ||||||
Futures Contracts | (33,057 | ) | (33,057 | ) | – | – | ||||||||||
Total Other Financial Instruments - Liabilities | $ | (9,184,726 | ) | $ | (33,057 | ) | $ | (9,151,669 | ) | $ | – |
Total Fair Value at May 28, 2021 | Unadjusted Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | |||||||||||||
Destinations Low Duration Fixed Income Fund | ||||||||||||||||
Investments, at value | ||||||||||||||||
Corporate Bonds & Notes | $ | 253,207,573 | $ | – | $ | 253,207,573 | $ | – | * | |||||||
Senior Loans | 84,296,654 | – | 68,820,631 | 15,476,023 | ||||||||||||
Asset-Backed Securities | 26,401,800 | – | 26,401,800 | – | ||||||||||||
Collateralized Mortgage Obligations | 25,677,116 | – | 25,677,116 | – | ||||||||||||
Municipal Bonds | 4,208,600 | – | 4,208,600 | – | ||||||||||||
Sovereign Bonds | 2,527,996 | – | 2,527,996 | – | ||||||||||||
U.S. Government Agencies & Obligations | 2,135,369 | – | 2,135,369 | – | ||||||||||||
Mortgage-Backed Securities | 1,970,076 | – | 1,970,076 | – | ||||||||||||
Common Stocks: | ||||||||||||||||
Basic Materials | 262,392 | – | – | 262,392 | ||||||||||||
Diversified | 36,882,091 | 35,583,491 | 1,298,600 | – | ||||||||||||
Energy | 106,114 | – | 106,114 | – | ||||||||||||
Financial | 661,694 | 661,694 | – | – | ||||||||||||
Exchange Traded Fund (ETF) | 25,224,852 | 25,224,852 | – | – | ||||||||||||
Preferred Stock | 3,654,495 | 3,654,495 | – | – | ||||||||||||
Warrants | 255,321 | 255,321 | – | – | ||||||||||||
Short-Term Investments: | ||||||||||||||||
Time Deposits | 69,881,502 | – | 69,881,502 | – | ||||||||||||
Money Market Fund | 1,371,335 | 1,371,335 | – | – | ||||||||||||
Total Investments, at value | $ | 538,724,980 | $ | 66,751,188 | $ | 456,235,377 | $ | 15,738,415 | ||||||||
Other Financial Instruments - Assets | ||||||||||||||||
Forward Foreign Currency Contracts | $ | 17,428 | $ | – | $ | 17,428 | $ | – | ||||||||
Total Other Financial Instruments - Assets | $ | 17,428 | $ | – | $ | 17,428 | $ | – | ||||||||
Other Financial Instruments - Liabilities | ||||||||||||||||
Forward Foreign Currency Contracts | $ | (84,674 | ) | $ | – | $ | (84,674 | ) | $ | – | ||||||
Total Other Financial Instruments - Liabilities | $ | (84,674 | ) | $ | – | $ | (84,674 | ) | $ | – |
* Includes securities that are fair valued by the Board at $0.
Total Fair Value at May 28, 2021 | Unadjusted Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | |||||||||||||
Destinations Global Fixed Income Opportunities Fund | ||||||||||||||||
Investments, at value | ||||||||||||||||
Corporate Bonds & Notes: | ||||||||||||||||
Australia | $ | 1,470,950 | $ | – | $ | 1,470,950 | $ | – | ||||||||
Bermuda | 2,015,233 | – | 2,015,233 | – | ||||||||||||
Brazil | 6,996,205 | – | 6,996,205 | – | ||||||||||||
British Virgin Islands | 2,354,804 | – | 2,354,804 | – | ||||||||||||
Canada | 24,158,005 | – | 24,158,005 | – | ||||||||||||
Cayman Islands | 31,002,767 | – | 31,002,767 | – | ||||||||||||
Chile | 29,383,035 | – | 29,383,035 | – | ||||||||||||
Colombia | 7,744,827 | – | 7,744,827 | – | ||||||||||||
Denmark | 1,212,844 | – | 1,212,844 | – | ||||||||||||
Dominican Republic | 1,485,981 | – | 1,485,981 | – | ||||||||||||
France | 2,337,545 | – | 2,337,545 | – | ||||||||||||
Germany | 6,995,497 | – | 6,995,497 | – | ||||||||||||
India | 10,003,201 | – | 10,003,201 | – | ||||||||||||
Indonesia | 2,885,804 | – | 2,885,804 | – | ||||||||||||
Ireland | 1,470,000 | – | 1,470,000 | – | ||||||||||||
Israel | 558,845 | – | 558,845 | – | ||||||||||||
Italy | 14,517,534 | – | 14,517,534 | – | ||||||||||||
Jersey, Channel Islands | 6,153,464 | – | 6,153,464 | – | ||||||||||||
Malaysia | 19,207,697 | – | 19,207,697 | – | ||||||||||||
Marshall Islands | 1,878,332 | – | 1,878,332 | – | ||||||||||||
Mexico | 14,423,374 | – | 14,423,374 | – | ||||||||||||
Multinational | 8,163,524 | – | 8,163,524 | – | ||||||||||||
Netherlands | 11,760,222 | – | 11,760,222 | – | ||||||||||||
Norway | 9,487,993 | – | 9,487,993 | – | ||||||||||||
Panama | 9,422,089 | – | 9,422,089 | – | ||||||||||||
Paraguay | 931,959 | – | 931,959 | – | ||||||||||||
Peru | 14,048,971 | – | 14,048,971 | – | ||||||||||||
Philippines | 3,105,300 | – | 3,105,300 | – | ||||||||||||
Portugal | 2,996 | – | – | 2,996 | ||||||||||||
Saudi Arabia | 2,447,493 | – | 2,447,493 | – | ||||||||||||
Singapore | 40,027,480 | – | 40,027,480 | – | ||||||||||||
South Korea | 31,050,155 | – | 31,050,155 | – | ||||||||||||
Sweden | 466,289 | – | 466,289 | – | ||||||||||||
Switzerland | 3,080,265 | – | 3,080,265 | – | ||||||||||||
Thailand | 1,876,374 | – | 1,876,374 | – | ||||||||||||
United Kingdom | 9,368,201 | – | 9,368,201 | – | ||||||||||||
United States | 172,702,560 | – | 172,702,560 | – | ||||||||||||
Sovereign Bonds | 66,228,236 | – | 66,228,236 | – | ||||||||||||
Senior Loans | 64,350,553 | – | 46,518,640 | 17,831,913 | ||||||||||||
Preferred Stocks: | ||||||||||||||||
Bermuda | 2,072,456 | 2,072,456 | – | – | ||||||||||||
United States | 20,334,628 | 19,142,878 | 1,191,750 | – | ||||||||||||
Common Stocks: | ||||||||||||||||
Canada | 2,676,075 | 1,180,065 | 1,496,010 | – | ||||||||||||
Israel | 6,062,380 | – | 6,062,380 | – | ||||||||||||
United States | 56,802,475 | 46,471,226 | 5,273,064 | 5,058,185 | ||||||||||||
Warrants: | ||||||||||||||||
Bermuda | 10,615 | – | 5,587 | 5,028 | ||||||||||||
Brazil | – | * | – | – | – | * | ||||||||||
Canada | 64,906 | 64,906 | – | – | ||||||||||||
Israel | – | * | – | – | – | * | ||||||||||
United States | 228,015 | 228,015 | – | – | ||||||||||||
Short-Term Investments: | ||||||||||||||||
Time Deposits | 84,653,697 | – | 84,653,697 | – | ||||||||||||
Money Market Fund | 3,452,317 | 3,452,317 | – | – | ||||||||||||
Total Investments, at value | $ | 813,134,168 | $ | 72,611,863 | $ | 717,624,183 | $ | 22,898,122 | ||||||||
Other Financial Instruments - Assets | ||||||||||||||||
Forward Foreign Currency Contracts | $ | 110,011 | $ | – | $ | 110,011 | $ | – | ||||||||
Total Other Financial Instruments - Assets | $ | 110,011 | $ | – | $ | 110,011 | $ | – | ||||||||
Other Financial Instruments - Liabilites | ||||||||||||||||
Option Contracts Written | $ | (73,260 | ) | $ | (73,260 | ) | $ | – | $ | – | ||||||
Forward Foreign Currency Contracts | (60,467 | ) | – | (60,467 | ) | – | ||||||||||
Securities Sold Short: | ||||||||||||||||
Corporate Bonds & Notes | (946,900 | ) | – | (946,900 | ) | – | ||||||||||
Common Stocks | (1,123,704 | ) | (1,123,704 | ) | – | – | ||||||||||
Exchange Traded Fund (ETF) | (8,202,243 | ) | (8,202,243 | ) | – | – | ||||||||||
Total Other Financial Instruments - Liabilities | $ | (10,406,574 | ) | $ | (9,399,207 | ) | $ | (1,007,367 | ) | $ | – |
* Includes securities that are fair valued by the Board at $0.
Total Fair Value at May 28, 2021 | Unadjusted Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | |||||||||||||
Destinations Multi Strategy Alternatives Fund | ||||||||||||||||
Investments, at value | ||||||||||||||||
Collateralized Mortgage Obligations | $ | 267,005,232 | – | $ | 267,005,232 | $ | – | |||||||||
Asset-Backed Securities | 144,803,662 | – | 144,803,662 | – | ||||||||||||
Corporate Bonds & Notes | 96,390,127 | – | 96,390,127 | – | ||||||||||||
Common Stocks | 399,491,971 | 399,491,971 | – | – | ||||||||||||
Open-End Fund | 230,713,882 | 230,713,882 | – | – | ||||||||||||
Preferred Stocks: | ||||||||||||||||
Communications | 2,117,528 | 2,117,528 | – | – | ||||||||||||
Consumer Cyclical | 8,974,300 | 8,974,300 | – | – | ||||||||||||
Financial | 2,311,250 | – | – | 2,311,250 | ||||||||||||
Closed-End Fund | 6,740,785 | 6,740,785 | – | – | ||||||||||||
Warrants | 2,709,954 | 2,709,954 | – | – | ||||||||||||
Purchased Swaptions | 2,671,069 | – | 2,671,069 | – | ||||||||||||
Short-Term Investments: | ||||||||||||||||
Time Deposits | 54,314,043 | – | 54,314,043 | – | ||||||||||||
Money Market Fund | 19,402,415 | 19,402,415 | – | – | ||||||||||||
Total Investments, at value | $ | 1,237,646,218 | $ | 670,150,835 | $ | 565,184,133 | $ | 2,311,250 | ||||||||
Other Financial Instruments - Assets | ||||||||||||||||
OTC Credit Default Swaps | $ | 9,017,149 | $ | – | $ | 9,017,149 | $ | – | ||||||||
Total Other Financial Instruments - Assets | $ | 9,017,149 | $ | – | $ | 9,017,149 | $ | – | ||||||||
Other Financial Instruments - Liabilities | ||||||||||||||||
Swaption Contracts Written | $ | (835,729 | ) | $ | – | $ | (835,729 | ) | $ | – | ||||||
Securities Sold Short: | ||||||||||||||||
Exchange Traded Fund (ETF) | (121,299,772 | ) | (121,299,772 | ) | – | – | ||||||||||
Common Stocks | (40,639,627 | ) | (40,639,627 | ) | – | – | ||||||||||
Total Other Financial Instruments - Liabilities | $ | (162,775,128 | ) | $ | (161,939,399 | ) | $ | (835,729 | ) | $ | – |
* Includes securities that are fair valued by the Board at $0.
Total Fair Value at May 28, 2021 | Unadjusted Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | |||||||||||||
Destinations Municipal Fixed Income Fund | ||||||||||||||||
Investments, at value | ||||||||||||||||
Municipal Bonds | $ | 815,674,481 | $ | – | $ | 815,674,481 | $ | – | ||||||||
Short-Term Investments: | ||||||||||||||||
Municipal Bonds | 57,591,803 | – | 57,591,803 | – | ||||||||||||
Time Deposits | 94,573,777 | – | 94,573,777 | – | ||||||||||||
Total Investments, at value | $ | 967,840,061 | $ | – | $ | 967,840,061 | $ | – |
The level classification by major category of investments is the same as the category presentation in the Schedules of Investments.
The following is a reconciliation of assets for which significant unobservable inputs (Level 3) were used in determining fair value during the period February 28, 2021 through May 28, 2021:
Total | Common Stocks | Corporate Bonds & Notes | Preferred Stocks | Senior Loans | Warrants | |||||||||||||||||||
Destinations Large Cap Equity Fund | ||||||||||||||||||||||||
Balance as of February 28, 2021 | $ | 43,495,464 | $ | 6,277,755 | $ | - | $ | 37,217,709 | $ | - | $ | - | ||||||||||||
Purchases | 2,552,246 | 2,073,956 | - | 478,290 | - | - | ||||||||||||||||||
(Sales/Paydowns) | (2,550,029 | ) | (832,143 | ) | - | (1,717,886 | ) | - | - | |||||||||||||||
Total realized gain (loss) | - | - | - | - | - | - | ||||||||||||||||||
Change in unrealized appreciation (depreciation) | (2,247,141 | ) | 790,199 | - | (3,037,340 | ) | - | - | ||||||||||||||||
Transfers In | 3,955,735 | 3,955,735 | - | - | - | - | ||||||||||||||||||
Transfers Out | - | - | - | - | - | - | ||||||||||||||||||
Balance as of May 28, 2021 | $ | 45,206,275 | $ | 12,265,502 | $ | - | $ | 32,940,773 | $ | - | $ | - | ||||||||||||
Change in unrealized appreciation (depreciation) from Investments held as of May 28, 2021 | $ | 1,123,077 | $ | 1,098,639 | $ | - | $ | 24,438 | $ | - | $ | - | ||||||||||||
Destinations International Equity Fund | ||||||||||||||||||||||||
Balance as of February 28, 2021 | $ | 1,907,550 | $ | 240,700 | $ | - | $ | 1,666,850 | $ | - | $ | - | ||||||||||||
Purchases | 3,147,020 | 3,147,020 | - | - | - | - | ||||||||||||||||||
(Sales/Paydowns) | (793,594 | ) | - | - | (793,594 | ) | - | - | ||||||||||||||||
Total realized gain (loss) | - | - | - | - | - | - | ||||||||||||||||||
Change in unrealized appreciation (depreciation) | (1,413,847 | ) | (540,591 | ) | - | (873,256 | ) | - | - | |||||||||||||||
Transfers In | 429,477 | 429,477 | - | - | - | - | ||||||||||||||||||
Transfers Out | - | - | - | - | - | |||||||||||||||||||
Balance as of May 28, 2021 | $ | 3,276,606 | $ | 3,276,606 | $ | - | $ | - | $ | - | $ | - | ||||||||||||
Change in unrealized appreciation (depreciation) from Investments held as of May 28, 2021 | $ | (1,413,847 | ) | $ | (540,591 | ) | $ | - | $ | (873,256 | ) | $ | - | $ | - | |||||||||
Destinations Low Duration Fixed Income Fund | ||||||||||||||||||||||||
Balance as of February 28, 2021 | $ | 15,677,082 | $ | 201,059 | $ | - | * | $ | - | $ | 15,476,023 | $ | - | |||||||||||
Purchases | - | - | - | - | - | - | ||||||||||||||||||
(Sales/Paydowns) | - | - | - | - | - | - | ||||||||||||||||||
Accrued Discounts (premiums) | - | - | - | - | - | - | ||||||||||||||||||
Total realized gain (loss) | - | - | - | - | - | - | ||||||||||||||||||
Change in unrealized appreciation (depreciation) | 61,333 | 61,333 | - | - | - | - | ||||||||||||||||||
Transfers In | - | - | - | - | - | - | ||||||||||||||||||
Transfers Out | - | - | - | - | - | - | ||||||||||||||||||
Balance as of May 28, 2021 | $ | 15,738,415 | $ | 262,392 | $ | - | * | $ | - | $ | 15,476,023 | $ | - | |||||||||||
Change in unrealized appreciation (depreciation) from Investments held as of May 28, 2021 | $ | 61,333 | $ | 61,333 | $ | - | $ | - | $ | - | $ | - |
* Includes securities that are fair valued at $0.
Destinations Global Fixed Income Opportunities Fund | ||||||||||||||||||||||||
Balance as of February 28, 2021 | $ | 20,689,967 | * | $ | 3,686,882 | * | $ | 2,996 | * | $ | - | $ | 17,000,089 | * | $ | - | * | |||||||
Purchases | 8,712,451 | 7,914,451 | - | - | 798,000 | - | ||||||||||||||||||
(Sales/Paydowns) | (6,648,000 | ) | (6,648,000 | ) | - | - | - | - | ||||||||||||||||
Accrued Discounts (premiums) | - | - | - | - | - | - | ||||||||||||||||||
Total realized gain (loss) | - | - | - | - | - | - | ||||||||||||||||||
Change in unrealized appreciation (depreciation) | 138,676 | 104,852 | - | - | 33,824 | - | ||||||||||||||||||
Transfers In | 5,028 | - | - | - | - | 5,028 | ||||||||||||||||||
Transfers Out | - | - | - | - | - | - | ||||||||||||||||||
Balance as of May 28, 2021 | $ | 22,898,122 | $ | 5,058,185 | $ | 2,996 | $ | - | $ | 17,831,913 | $ | 5,028 | * | |||||||||||
Change in unrealized appreciation (depreciation) from Investments held as of May 28, 2021 | $ | 138,676 | $ | 104,852 | $ | - | $ | - | $ | 33,824 | $ | - |
* Includes securities that are fair valued at $0.
Destinations Multi Strategy Alternatives Fund | ||||||||||||||||||||||||
Balance as of February 28, 2021 | $ | 2,311,250 | $ | - | $ | - | $ | 2,311,250 | $ | - | $ | - | ||||||||||||
Purchases | - | - | - | - | - | - | ||||||||||||||||||
(Sales/Paydowns) | - | - | - | - | - | - | ||||||||||||||||||
Accrued Discounts (premiums) | - | - | - | - | - | - | ||||||||||||||||||
Total realized gain (loss) | - | - | - | - | - | - | ||||||||||||||||||
Change in unrealized appreciation (depreciation) | - | - | - | - | - | - | ||||||||||||||||||
Transfers In | - | - | - | - | - | - | ||||||||||||||||||
Transfers Out | - | - | - | - | - | - | ||||||||||||||||||
Balance as of May 28, 2021 | $ | 2,311,250 | $ | - | $ | - | $ | 2,311,250 | $ | - | $ | - | ||||||||||||
Change in unrealized appreciation (depreciation) from Investments held as of May 28, 2021 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - |
3. Investments
At May 28, 2021, the aggregate gross unrealized appreciation and depreciation of investments for federal income tax purposes were as follows:
Aggregate Cost | Gross | Gross | Net Unrealized | |||||||||||||
For Federal Income | Unrealized | Unrealized | Appreciation | |||||||||||||
Fund | Tax Purposes | Appreciation | (Depreciation) | (Depreciation) | ||||||||||||
Destinations Large Cap Equity Fund | $ | 3,307,311,574 | $ | 1,719,500,052 | $ | (47,250,913 | ) | $ | 1,672,249,139 | |||||||
Destinations Small-Mid Cap Equity Fund | 1,028,592,608 | 338,903,175 | (16,123,593 | ) | 322,779,582 | |||||||||||
Destinations International Equity Fund | 2,014,623,677 | 864,328,201 | (44,871,362 | ) | 819,456,839 | |||||||||||
Destinations Equity Income Fund | 357,140,754 | 86,731,444 | (7,831,349 | ) | 78,900,095 | |||||||||||
Destinations Core Fixed Income Fund | 2,436,902,422 | 21,161,237 | (44,751,396 | ) | (23,590,159 | ) | ||||||||||
Destinations Low Duration Fixed Income Fund | 538,625,457 | 5,171,990 | (5,139,713 | ) | 32,277 | |||||||||||
Destinations Global Fixed Income Opportunities Fund | 804,864,626 | 21,546,114 | (13,300,288 | ) | 8,245,826 | |||||||||||
Destinations Municipal Fixed Income Fund | 932,914,315 | 35,707,234 | (781,488 | ) | 34,925,746 | |||||||||||
Destinations Multi Strategy Alternatives Fund | 1,158,429,102 | 90,997,540 | (11,077,004 | ) | 79,920,536 |