0001752724-24-014195.txt : 20240125 0001752724-24-014195.hdr.sgml : 20240125 20240125163709 ACCESSION NUMBER: 0001752724-24-014195 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20231130 FILED AS OF DATE: 20240125 DATE AS OF CHANGE: 20240125 PERIOD START: 20240229 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Brinker Capital Destinations Trust CENTRAL INDEX KEY: 0001688680 ORGANIZATION NAME: IRS NUMBER: 816867493 STATE OF INCORPORATION: DE FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-23207 FILM NUMBER: 24562714 BUSINESS ADDRESS: STREET 1: 1055 WESTLAKES DRIVE, SUITE 250 CITY: BERWYN STATE: PA ZIP: 19312 BUSINESS PHONE: (610) 407-8348 MAIL ADDRESS: STREET 1: 1055 WESTLAKES DRIVE, SUITE 250 CITY: BERWYN STATE: PA ZIP: 19312 0001688680 S000056109 Destinations Municipal Fixed Income Fund C000176701 Class I DMFFX C000202461 Class Z DMFZX NPORT-P 1 primary_doc.xml NPORT-P false 0001688680 XXXXXXXX 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2029-11-01 Fixed 5.00000000 N N N N N N PENNSYLVANIA ST HG 5% 08/15/27 N/A PENNSYLVANIA ST HGR EDUCTNL FA REGD N/C B/E 5.00000000 70917SR39 35000.00000000 NS USD 37614.75000000 0.004317118045 Long DBT MUN US N 2 2027-08-15 Fixed 5.00000000 N N N N N N GRUNDY & WILL CNTY 5% 02/01/29 N/A GRUNDY & WILL CNTYS IL CMNTY U REGD B/Q B/E 5.00000000 400208GS7 35000.00000000 NS USD 36954.28000000 0.004241314618 Long DBT MUN US N 2 2029-02-01 Fixed 5.00000000 N N N N N N MASSACHUSETTS ST D 5% 10/01/24 549300UZSVMFXJK08K70 MASSACHUSETTS ST DEV FIN AGY R REGD N/C B/E 5.00000000 57584YNM7 585000.00000000 NS USD 593288.51000000 0.068092876670 Long DBT MUN US N 2 2024-10-01 Fixed 5.00000000 N N N N N N MIAMI-DADE CNTY FL 5% 10/01/27 N/A MIAMI-DADE CNTY FL AVIATION RE REGD B/E AMT 5.00000000 59333PK56 55000.00000000 NS USD 55262.81000000 0.006342620230 Long DBT MUN US N 2 2027-10-01 Fixed 5.00000000 N N N N N N DUVAL CNTY FL SCH 5% 07/01/27 254900RS6MO5WEO2WC42 DUVAL CNTY FL SCH BRD COPS REGD B/E 5.00000000 267169FU9 125000.00000000 NS USD 128383.08000000 0.014734775890 Long DBT MUN US N 2 2027-07-01 Fixed 5.00000000 N N N N N N 2023-12-29 Brinker Capital Destinations Trust Brian Ferko Brian Ferko Chief Operating Officer and Chief Compliance Officer XXXX NPORT-EX 2 tm242216d1_nportex.htm SOI

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Large Cap Equity Fund

 

Shares/Units     Security Value  
COMMON STOCKS - 97.7%  
BASIC MATERIALS - 1.8%  
Chemicals - 1.0%  
  2,727     Air Products & Chemicals Inc.   $ 737,790  
  129,538     CF Industries Holdings Inc.    9,734,781  
  8,800     Dow Inc.    455,400  
  76,119     Eastman Chemical Co.    6,381,056  
  3,116     Ecolab Inc.    597,431  
  45,738     Linde PLC    18,925,012  
  2,928     Sherwin-Williams Co.    816,326  
        Total Chemicals   37,647,796  
Forest Products & Paper - 0.2%  
  181,248     International Paper Co.    6,695,301  
Mining - 0.6%  
  449,965     Freeport-McMoRan Inc.    16,792,694  
  204,639     Newmont Corp.    8,224,441  
  1,100     Southern Copper Corp.    79,123  
        Total Mining   25,096,258  
        TOTAL BASIC MATERIALS   69,439,355  
COMMUNICATIONS - 11.8%  
Advertising - 0.6%  
  410,278     Interpublic Group of Cos., Inc.    12,611,946  
  159,152     Omnicom Group Inc.    12,832,426  
        Total Advertising   25,444,372  
Internet - 9.1%  
  5,000     Airbnb Inc., Class A Shares*    631,700  
  746,579     Alphabet Inc., Class A Shares*    98,944,115  
  172,711     Alphabet Inc., Class C Shares*    23,129,457  
  725,371     Amazon.com Inc.*    105,969,449  
  7,823     Booking Holdings Inc.*    24,452,351  
  87,173     Etsy Inc.*    6,608,585  
  676,160     Match Group Inc.*    21,894,061  
  43,713     Meta Platforms Inc., Class A Shares*    14,300,708  
  5,463     Netflix Inc.*    2,589,298  
  150,482     Palo Alto Networks Inc.*    44,405,733  
  128,372     Uber Technologies Inc.*    7,237,613  
  29,475     VeriSign Inc.*    6,254,595  
        Total Internet   356,417,665  
Media - 0.3%  
  1,272     Charter Communications Inc., Class A Shares*    508,965  
  50,993     Comcast Corp., Class A Shares    2,136,097  
  202,442     Fox Corp., Class A Shares    5,980,137  
  23,752     Maplebear Inc.*(b)@   574,561  
  22,785     Walt Disney Co.*    2,111,941  
        Total Media   11,311,701  
Telecommunications - 1.8%  
  3,114     Arista Networks Inc.*    684,177  
  808,710     AT&T Inc.    13,400,325  
  328,089     Cisco Systems Inc.    15,872,946  
  21,562     Motorola Solutions Inc.    6,961,723  
  229,993     T-Mobile US Inc.    34,602,447  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Large Cap Equity Fund (continued)

 

Shares/Units     Security Value  
COMMUNICATIONS - 11.8% - (continued)  
Telecommunications - 1.8% - (continued)  
  52,472     Verizon Communications Inc.   $  2,011,252  
        Total Telecommunications   73,532,870  
        TOTAL COMMUNICATIONS   466,706,608  
CONSUMER CYCLICAL - 11.0%  
Airlines - 0.8%  
  631,401     Delta Air Lines Inc.    23,317,639  
  154,290     United Airlines Holdings Inc.*    6,079,026  
        Total Airlines   29,396,665  
Apparel - 0.9%  
  321,504     NIKE Inc., Class B Shares    35,452,246  
Auto Manufacturers - 0.6%  
  27,426     Cummins Inc.    6,147,812  
  48,887     Ford Motor Co.    501,581  
  219,056     General Motors Co.    6,922,170  
  34,366     Tesla Inc.*    8,250,589  
        Total Auto Manufacturers   21,822,152  
Auto Parts & Equipment - 0.5%  
  123,731     Aptiv PLC*    10,249,876  
  234,870     Mobileye Global Inc., Class A Shares*    9,641,414  
        Total Auto Parts & Equipment   19,891,290  
Distribution/Wholesale - 1.7%  
  325,991     Copart Inc.*    16,371,268  
  107,465     Ferguson PLC    18,413,053  
  741,016     LKQ Corp.    32,997,443  
        Total Distribution/Wholesale   67,781,764  
Entertainment - 0.6%  
  362,093     International Game Technology PLC    9,678,746  
  192,572     Live Nation Entertainment Inc.*    16,218,414  
        Total Entertainment   25,897,160  
Home Furnishings - 0.2%  
  107,149     Dolby Laboratories Inc., Class A Shares    9,228,743  
               
Lodging - 0.4%  
  315,879     Las Vegas Sands Corp.    14,568,339  
  3,092     Marriott International Inc., Class A Shares    626,748  
        Total Lodging   15,195,087  
Retail - 5.3%  
  237     AutoZone Inc.*    618,553  
  346,179     BJ's Wholesale Club Holdings Inc.*    22,356,240  
  18,888     Chipotle Mexican Grill Inc., Class A Shares*    41,596,098  
  82,722     Costco Wholesale Corp.    49,032,638  
  2,738     Dollar General Corp.    359,007  
  114,813     Dollar Tree Inc.*    14,189,739  
  16,020     Domino's Pizza Inc.    6,294,098  
  12,623     Home Depot Inc.    3,957,184  
  7,269     Lowe's Cos., Inc.    1,445,295  
  38,004     Lululemon Athletica Inc.*    16,980,187  
  9,066     McDonald's Corp.    2,555,161  
  29,805     O'Reilly Automotive Inc.*    29,279,836  
  119,065     Starbucks Corp.    11,823,155  
  5,773     Target Corp.    772,485  
  14,366     TJX Cos., Inc.    1,265,788  
  17,775     Walmart Inc.    2,767,390  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Large Cap Equity Fund (continued)

 

Shares/Units     Security Value  
CONSUMER CYCLICAL - 11.0% - (continued)  
Retail - 5.3% - (continued)  
  48,096     Yum! Brands Inc.   $  6,038,453  
        Total Retail   211,331,307  
        TOTAL CONSUMER CYCLICAL   435,996,414  
CONSUMER NON-CYCLICAL - 21.4%  
Agriculture - 0.7%  
  174,082     Altria Group Inc.    7,318,407  
  6,608     Archer-Daniels-Midland Co.    487,208  
  97,417     Bunge Global SA    10,703,206  
  102,970     Philip Morris International Inc.    9,613,279  
        Total Agriculture   28,122,100  
Beverages - 1.6%  
  103,638     Brown-Forman Corp., Class B Shares    6,087,696  
  199,631     Coca-Cola Co.    11,666,436  
  1,990     Constellation Brands Inc., Class A Shares    478,575  
  940,333     Keurig Dr Pepper Inc.    29,686,313  
  268,861     Monster Beverage Corp.*    14,827,684  
  17,191     PepsiCo Inc.    2,893,073  
        Total Beverages   65,639,777  
Biotechnology - 2.5%  
  29,368     Alnylam Pharmaceuticals Inc.*    4,941,166  
  29,526     Amgen Inc.    7,961,391  
  47,472     Biogen Inc.*    11,112,246  
  334,825     BioMarin Pharmaceutical Inc.*    30,495,861  
  97,400     Gilead Sciences Inc.    7,460,840  
  61,595     Illumina Inc.*    6,279,610  
  111,511     Incyte Corp.*    6,059,508  
  4,100     Moderna Inc.*    318,570  
  18,812     Regeneron Pharmaceuticals Inc.*    15,497,514  
  19,764     Vertex Pharmaceuticals Inc.*    7,012,465  
        Total Biotechnology   97,139,171  
Commercial Services - 1.7%  
  5,136     Automatic Data Processing Inc.    1,180,869  
  405,280     CoStar Group Inc.*    33,654,451  
  30,990     Equifax Inc.    6,746,833  
  26,882     MarketAxess Holdings Inc.    6,454,906  
  1,954     Moody's Corp.    713,132  
  13,989     PayPal Holdings Inc.*    805,906  
  107,433     Quanta Services Inc.    20,230,708  
  4,012     S&P Global Inc.    1,668,310  
        Total Commercial Services   71,455,115  
Cosmetics/Personal Care - 0.5%  
  10,220     Colgate-Palmolive Co.    805,029  
  2,897     Estee Lauder Cos., Inc., Class A Shares    369,918  
  744,818     Kenvue Inc.    15,224,080  
  29,385     Procter & Gamble Co.    4,511,185  
        Total Cosmetics/Personal Care   20,910,212  
Food - 2.0%  
  7,320     General Mills Inc.    465,991  
  1,877     Hershey Co.    352,726  
  10,034     Kraft Heinz Co.    352,294  
  690,835     Kroger Co.(a)    30,583,265  
  126,645     Mondelez International Inc., Class A Shares    8,999,394  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Large Cap Equity Fund (continued)

 

Shares/Units     Security Value  
CONSUMER NON-CYCLICAL - 21.4% - (continued)  
Food - 2.0% - (continued)  
  352,719     Nestle SA, ADR(b)    $ 40,181,748  
  6,319     Sysco Corp.   456,042  
        Total Food   81,391,460  
Healthcare-Products - 5.4%  
  21,575     Abbott Laboratories    2,250,057  
  31,918     Agilent Technologies Inc.    4,079,120  
  100,556     Alcon Inc.    7,605,050  
  337,121     Boston Scientific Corp.*    18,841,693  
  161,479     Danaher Corp.    36,059,875  
  99,783     Edwards Lifesciences Corp.*    6,756,307  
  249,061     Exact Sciences Corp.*    15,939,904  
  4,860     GE HealthCare Technologies Inc.    332,716  
  162,168     Globus Medical Inc., Class A Shares*    7,284,587  
  85,055     Hologic Inc.*    6,064,421  
  126,811     Insulet Corp.*    23,978,692  
  157,140     Intuitive Surgical Inc.*    48,845,398  
  385,725     Medtronic PLC    30,576,421  
  4,470     Stryker Corp.    1,324,595  
  4,830     Thermo Fisher Scientific Inc.    2,394,521  
        Total Healthcare-Products   212,333,357  
Healthcare-Services - 3.5%  
  197,199     Centene Corp.*    14,529,622  
  65,514     DaVita Inc.*    6,647,050  
  2,950     Elevance Health Inc.    1,414,495  
  2,506     HCA Healthcare Inc.    627,703  
  1,616     Humana Inc.    783,534  
  29,380     Laboratory Corp. of America Holdings    6,372,816  
  16,859     Molina Healthcare Inc.*    6,162,976  
  45,631     Quest Diagnostics Inc.    6,261,942  
  162,143     UnitedHealth Group Inc.    89,660,215  
        Total Healthcare-Services   132,460,353  
Household Products/Wares - 0.0%  
  4,173     Kimberly-Clark Corp.    516,325  
Pharmaceuticals - 3.5%  
  116,217     AbbVie Inc.    16,548,139  
  96,337     Becton Dickinson & Co.    22,752,873  
  26,178     Bristol-Myers Squibb Co.    1,292,670  
  3,588     Cigna Group    943,213  
  15,909     CVS Health Corp.    1,081,017  
  156,851     DexCom Inc.*    18,119,427  
  64,849     Eli Lilly & Co.    38,328,353  
  30,071     Johnson & Johnson    4,650,781  
  1,703     McKesson Corp.    801,364  
  31,677     Merck & Co., Inc.    3,246,259  
  70,428     Pfizer Inc.    2,145,941  
  310,440     Sanofi SA, ADR    14,513,070  
  92,221     Zoetis Inc., Class A Shares    16,292,684  
        Total Pharmaceuticals   140,715,791  
        TOTAL CONSUMER NON-CYCLICAL   850,683,661  
ENERGY - 4.8%  
Oil & Gas - 4.8%  
  22,058     Chevron Corp.    3,167,529  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Large Cap Equity Fund (continued)

 

Shares/Units     Security Value  
ENERGY - 4.8% - (continued)  
Oil & Gas - 4.8% - (continued)  
  259,756     ConocoPhillips   $  30,020,001  
  46,297     Diamondback Energy Inc.    7,148,720  
  171,972     EOG Resources Inc.    21,164,594  
  477,992     EQT Corp.   19,100,560  
  50,463     Exxon Mobil Corp.    5,184,569  
  251,878     Marathon Oil Corp.    6,405,257  
  97,678     Marathon Petroleum Corp.    14,572,581  
  468,095     Occidental Petroleum Corp.    27,687,819  
  107,456     Phillips 66    13,850,004  
  2,941     Pioneer Natural Resources Co.    681,253  
  681,738     Suncor Energy Inc.(a)    22,490,537  
  229,677     Valaris Ltd.*    15,755,842  
  4,353     Valero Energy Corp.    545,692  
        Total Oil & Gas   187,774,958  
Oil & Gas Services - 0.0%  
  17,706     Schlumberger NV    921,420  
Pipelines - 0.0%  
  24,394     Kinder Morgan Inc.    428,603  
        TOTAL ENERGY   189,124,981  
FINANCIAL - 16.5%  
Banks - 2.4%  
  86,838     Bank of America Corp.    2,647,691  
  24,191     Citigroup Inc.    1,115,205  
  59,848     Goldman Sachs Group Inc.    20,440,486  
  318,901     JPMorgan Chase & Co.    49,774,068  
  180,218     Morgan Stanley    14,298,496  
  4,938     PNC Financial Services Group Inc.    661,494  
  16,500     Truist Financial Corp.    530,310  
  19,108     US Bancorp    728,397  
  45,730     Wells Fargo & Co.    2,039,101  
        Total Banks   92,235,248  
Diversified Financial Services - 4.5%  
  7,362     American Express Co.    1,257,209  
  22,213     Ameriprise Financial Inc.    7,852,518  
  573,140     Ant Group Co., Ltd.(b)(c)    561,219  
  138,671     Apollo Global Management Inc.    12,757,732  
  1,897     BlackRock Inc., Class A Shares     1,425,083  
  4,694     Capital One Financial Corp.    524,132  
  303,238     Charles Schwab Corp.    18,594,554  
  118,533     CME Group Inc., Class A Shares    25,882,866  
  7,095     Intercontinental Exchange Inc.    807,695  
  37,324     LPL Financial Holdings Inc.    8,297,125  
  98,202     Mastercard Inc., Class A Shares    40,638,934  
  162,467     Visa Inc., Class A Shares    41,702,029  
  255,048     Voya Financial Inc.    18,238,482  
        Total Diversified Financial Services   178,539,578  
Equity Real Estate Investment Trusts (REITs) - 0.2%  
  5,811     American Tower Corp.    1,213,220  
  5,373     Crown Castle Inc.    630,145  
  1,178     Equinix Inc.    960,082  
  11,463     Prologis Inc.    1,317,443  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Large Cap Equity Fund (continued)

 

Shares/Units     Security Value  
FINANCIAL - 16.5% - (continued)  
Equity Real Estate Investment Trusts (REITs) - 0.2% (continued)  
  1,958     Public Storage   $ 506,652  
  193,920     Weyerhaeuser Co.    6,079,392  
        Total Equity Real Estate Investment Trusts (REITs)   10,706,934  
Insurance - 8.2%          
  145,000     Allstate Corp.    19,991,150  
  287,698     American International Group Inc.   18,933,405  
  43,032     Aon PLC, Class A Shares    14,135,582  
  119,610     Assurant Inc.    20,096,872  
  306,894     Berkshire Hathaway Inc., Class B Shares*    110,481,840  
  5,141     Chubb Ltd.    1,179,500  
  38,768     Fairfax Financial Holdings Ltd.(b)    35,740,607  
  6,127     Marsh & McLennan Cos., Inc.    1,221,846  
  8,029     MetLife Inc.    510,885  
  208,664     Progressive Corp.    34,227,156  
  99,603     RenaissanceRe Holdings Ltd.    21,350,899  
  2,893     Travelers Cos., Inc.    522,534  
  189,533     Willis Towers Watson PLC    46,681,978  
        Total Insurance   325,074,254  
Private Equity - 1.2%  
  71,859     Ares Management Corp., Class A Shares    8,066,173  
  8,900     Blackstone Inc.    1,000,093  
  312,117     Carlyle Group Inc.    10,699,371  
  389,486     KKR & Co., Inc.    29,538,618  
        Total Private Equity   49,304,255  
        TOTAL FINANCIAL   655,860,269  
INDUSTRIAL - 8.3%  
Aerospace/Defense - 1.7%  
  68,663     Boeing Co.*    15,904,411  
  27,795     General Dynamics Corp.    6,864,531  
  172,156     Howmet Aerospace Inc.    9,055,406  
  2,395     L3Harris Technologies Inc.    456,990  
  16,636     Lockheed Martin Corp.    7,449,102  
  58,295     Northrop Grumman Corp.    27,699,452  
  18,234     RTX Corp.    1,485,706  
        Total Aerospace/Defense   68,915,598  
Building Materials - 3.1%  
  307,487     Armstrong World Industries Inc.    26,077,973  
  945,374     CRH PLC    59,322,219  
  8,535     Johnson Controls International PLC    450,648  
  21,582     Martin Marietta Materials Inc.    10,026,781  
  73,752     Trane Technologies PLC    16,624,438  
  29,826     Vulcan Materials Co.    6,369,641  
        Total Building Materials   118,871,700  
Electrical Components & Equipment - 0.3%  
  49,168     Eaton Corp. PLC    11,195,062  
  7,087     Emerson Electric Co.    630,034  
        Total Electrical Components & Equipment   11,825,096  
Electronics - 0.4%  
  40,536     Honeywell International Inc.    7,941,813  
  26,968     Hubbell Inc., Class B Shares    8,090,400  
        Total Electronics   16,032,213  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Large Cap Equity Fund (continued)

 

Shares/Units     Security Value  
INDUSTRIAL - 8.3% - (continued)  
Environmental Control - 0.2%  
  112,802     Veralto Corp.*   $ 8,713,955  
  5,021     Waste Management Inc.    858,541  
        Total Environmental Control   9,572,496  
Machinery-Construction & Mining - 0.0%  
  6,413     Caterpillar Inc.    1,607,867  
Machinery-Diversified - 0.0%      
  3,381     Deere & Co.    1,232,070  
Miscellaneous Manufacturers - 1.5%  
  6,900     3M Co.    683,583  
  80,685     AO Smith Corp.    6,080,422  
  27,682     Axon Enterprise Inc.*    6,363,261  
  132,723     Carlisle Cos., Inc.    37,216,856  
  13,481     General Electric Co.    1,641,986  
  3,734     Illinois Tool Works Inc.    904,412  
  79,264     Textron Inc.    6,076,378  
        Total Miscellaneous Manufacturers   58,966,898  
Shipbuilding - 0.2%  
  25,999     Huntington Ingalls Industries Inc.    6,162,283  
Transportation - 0.9%  
  24,916     CSX Corp.    804,787  
  89,098     FedEx Corp.    23,061,235  
  2,869     Norfolk Southern Corp.    625,901  
  7,583     Union Pacific Corp.    1,708,222  
  51,211     United Parcel Service Inc., Class B Shares    7,764,100  
        Total Transportation   33,964,245  
        TOTAL INDUSTRIAL   327,150,466  
TECHNOLOGY - 20.4%  
Computers - 3.2%  
  84,458     Accenture PLC, Class A Shares    28,136,338  
  186,277     Apple Inc.    35,383,316  
  31,101     CACI International Inc., Class A Shares*    9,981,866  
  88,640     Crowdstrike Holdings Inc., Class A Shares*    21,006,794  
  127,669     Fortinet Inc.*    6,710,283  
  92,122     International Business Machines Corp.    14,606,864  
  58,427     Leidos Holdings Inc.    6,270,386  
        Total Computers   122,095,847  
Semiconductors - 5.6%  
  298,103     Advanced Micro Devices Inc.*    36,118,160  
  6,314     Analog Devices Inc.    1,157,861  
  112,885     Applied Materials Inc.    16,907,915  
  5,362     Broadcom Inc.    4,963,764  
  487,596     Intel Corp.    21,795,541  
  1,715     KLA Corp.    934,023  
  35,990     Lam Research Corp.    25,765,961  
  205,360     Micron Technology Inc.    15,632,003  
  177,497     NVIDIA Corp.    83,015,347  
  59,440     Qorvo Inc.*    5,735,960  
  61,692     QUALCOMM Inc.    7,961,353  
  55,493     Texas Instruments Inc.    8,474,336  
        Total Semiconductors   228,462,224  
Software - 11.6%  
  48,068     Adobe Inc.*    29,370,029  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Large Cap Equity Fund (continued)

 

Shares/Units     Security Value  
TECHNOLOGY - 20.4% - (continued)  
Software - 11.6% - (continued)  
  98,938     Akamai Technologies Inc.*   $  11,430,307  
  1,800     Atlassian Corp., Class A Shares*    343,710  
  2,681     Autodesk Inc.*    585,611  
  3,410     Cadence Design Systems Inc.*    931,851  
  575     Canva Inc.*(b)(c)@    538,936  
  1,271     Celonis SE*(b)(c)@    533,149  
  356,915     Dynatrace Inc.*    19,112,798  
  3,796     Epic Games Inc., Private Placement*(b)(c)@    2,002,891  
  5,971     Fair Isaac Corp.*    6,494,060  
  299,172     Fiserv Inc.*    39,074,855  
  94,561     Intuit Inc.   54,037,829  
  835     Magic Leap Inc., Series D, Private Placement*(b)(c)@    1,495  
  466,901     Microsoft Corp.    176,913,458  
  43,345     MSCI Inc., Class A Shares    22,576,243  
  18,960     Oracle Corp.    2,203,342  
  1,377     Roper Technologies Inc.    741,170  
  101,537     Salesforce Inc.*    25,577,170  
  80,972     ServiceNow Inc.*    55,525,739  
  3,900     Snowflake Inc., Class A Shares*    731,952  
  20,012     Stripe Inc., Class B Shares, Private Placement*(b)(c)@    345,587  
  1,917     Synopsys Inc.*    1,041,372  
  35,739     Veeva Systems Inc., Class A Shares*    6,229,665  
  2,500     Workday Inc., Class A Shares*    676,800  
        Total Software   457,020,019  
        TOTAL TECHNOLOGY   807,578,090  
UTILITIES - 1.7%  
Electric - 1.7%  
  6,465     American Electric Power Co., Inc.    514,291  
  183,025     Constellation Energy Corp.    22,153,346  
  220,806     Dominion Energy Inc.    10,011,344  
  9,642     Duke Energy Corp.    889,764  
  12,381     Exelon Corp.    476,792  
  304,978     IDACORP Inc.    29,430,377  
  25,246     NextEra Energy Inc.    1,477,144  
  7,806     Sempra    568,823  
  13,577     Southern Co.    963,695  
        Total Electric   66,485,576  
        TOTAL UTILITIES   66,485,576  
        TOTAL COMMON STOCKS      
        (Cost - $2,895,139,369)    3,869,025,420  
EXCHANGE TRADED FUND (ETF) - 1.4%  
  223,395     Vanguard Mega Capital Growth      
        (Cost - $46,693,269)   55,958,214  
PREFERRED STOCKS - 0.0%  
CONSUMER CYCLICAL - 0.0%  
Auto Manufacturers - 0.0%  
  21,292     Sila Nanotechnologies Inc., Series F, Private Placement*(b)(c)@    579,760  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Large Cap Equity Fund (continued)

 

  Shares/Units   Security   Value  
CONSUMER CYCLICAL - 0.0%- (continued)      
Auto Manufacturers - 0.0% (continued)      
  9,549     Waymo LLC, Series A2, Private Placement*(b)(c)@   $  528,699  
        Total Auto Manufacturers   1,108,459  
        TOTAL CONSUMER CYCLICAL   1,108,459  
INDUSTRIAL - 0.0%  
Electrical Components & Equipment - 0.0%  
  48,400     GM Cruise Holdings LLC, Class F Shares, Private Placement*(b)(c)@    644,468  
  39,865     GM Cruise Holdings LLC, Class G Shares, Private Placement*(b)(c)@    624,425  
        Total Electrical Components & Equipment   1,268,893  
Environmental Control - 0.0%  
  23,420     Redwood Materials Inc., Series C, Private Placement*(b)(c)@    993,804  
Machinery - 0.0%  
  108,389     Nuro Inc., Series C, Private Placement*(b)(c)@    627,247  
  26,242     Nuro Inc., Series D*(b)(c)@   215,447  
        Total Machinery   842,694  
        TOTAL INDUSTRIAL   3,105,391  
TECHNOLOGY - 0.0%  
Software - 0.0%  
  27     Canva Inc., Series A, Private Placement*(b)(c)@    25,307  
  10     Canva Inc., Series A-3, Private Placement*(b)(c)@    9,390  
  1     Canva Inc., Series A-4, Private Placement*(b)(c)@    940  
  3,788     Celonis SE, Series D*(b)(c)@    1,588,960  
  6,765     Formagrid Inc.*(b)(c)@    633,711  
  20,620     Rappi Inc., Series E, Private Placement*(b)(c)@    1,099,623  
        Total Software   3,357,931  
        TOTAL TECHNOLOGY   3,357,931  
        TOTAL PREFERRED STOCKS      
        (Cost - $10,669,133)   7,571,781  
        TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS      
        (Cost - $2,952,501,771)    3,932,555,415  

 

Face
Amount†		              
SHORT-TERM INVESTMENTS - 1.5%  
TIME DEPOSITS - 1.5%  
   4 GBP    BNP Paribas SA - Paris, 4.160% due 12/1/23      6  
  53,382,857     Citibank - New York, 4.680% due 12/1/23      53,382,857  
   2,991,837     JPMorgan Chase & Co. - New York, 4.680% due 12/1/23      2,991,837  
   3,753,498     Royal Bank of Canada - Toronto, 4.680% due 12/1/23      3,753,498  
   91,380 EUR    Skandinaviska Enskilda Banken AB - Stockholm, 2.810% due 12/1/23      99,476  
        TOTAL TIME DEPOSITS        
        (Cost - $60,227,674)       60,227,674  

 

Shares/Units            
INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING - 0.6%        
MONEY MARKET FUND - 0.6%  
  22,695,635     Federated Government Obligations Fund, Premier Class, 5.213%(d)        
        (Cost - $22,695,635)    

22,695,635

  
        TOTAL INVESTMENTS - 101.2%        
        (Cost - $3,035,425,080)      4,015,478,724  
        Liabilities in Excess of Other Assets - (1.2)%     (46,024,848 )
        TOTAL NET ASSETS - 100.0%     $ 3,969,453,876  

 

 

 

  

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Large Cap Equity Fund (continued)

 

 

† 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) Illiquid security. The aggregate value of illiquid holdings at November 30, 2023, amounts to $88,051,974 and represents 2.22% of net assets.
(c) Security is valued in good faith at fair value by or under the direction of the Board of Trustees using significant unobservable inputs.
(d) 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

 
Canva Inc.  12/17/2021  $589,640   $538,936    0.01%
Canva Inc., Series A, Private Placement  12/17/2021   46,012    25,307    0.00%*
Canva Inc., Series A-3, Private Placement  12/17/2021   17,042    9,390    0.00%*
Canva Inc., Series A-4, Private Placement  12/17/2021   1,704    940    0.00%*
Celonis SE  6/17/2021   470,003    533,149    0.01%
Celonis SE, Series D  6/17/2021   1,225,484    1,588,960    0.04%
Epic Games Inc., Private Placement  6/18/2020   1,665,200    2,002,891    0.05%
Formagrid Inc.  12/8/2021   1,266,980    633,711    0.02%
GM Cruise Holdings LLC, Class F Shares, Private Placement  5/7/2019   883,300    644,468    0.02%
GM Cruise Holdings LLC, Class G Shares, Private Placement  1/21/2021   1,050,443    624,425    0.02%
Magic Leap Inc., Series D, Private Placement  10/12/2017   406,539    1,495    0.00%*
Maplebear Inc.  7/2/2020   655,877    574,561    0.01%
Nuro Inc., Series C, Private Placement  10/30/2020   940,662    627,247    0.02%
Nuro Inc., Series D  10/29/2021   547,033    215,447    0.01%
Rappi Inc., Series E, Private Placement  9/8/2020   492,486    1,099,623    0.03%
Redwood Materials Inc., Series C, Private Placement  5/28/2021   1,110,190    993,804    0.02%
Sila Nanotechnologies Inc., Series F, Private Placement  1/7/2021   878,780    579,760    0.01%
Stripe Inc., Class B Shares, Private Placement  12/17/2019   156,994    345,587    0.01%
Waymo LLC, Series A2, Private Placement  5/8/2020   819,946    528,699    0.01%
Total          $11,568,400    0.29%

 

 

* Position represents less than 0.005%

 

Abbreviations used in this schedule:
ADR — American Depositary Receipts
LLC — Limited Liability Company
PLC — Public Limited Company
REIT — Real Estate Investment Trust

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Large Cap Equity Fund (concluded)

 

Summary of Investments by Security Sector^        
Consumer Non-cyclical   21.2%
Technology   20.2 
Financial   16.3 
Communications   11.6 
Consumer Cyclical   10.9 
Industrial   8.2 
Energy   4.7 
Basic Materials   1.7 
Utilities   1.7 
Exchange Traded Funds (ETFs)   1.4 
Short-Term Investments   1.5 
Money Market Fund   0.6 
    100.0%

 

 

^ As a percentage of total investments.

 

At November 30, 2023, 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 December Futures   8    12/23  $1,701,400   $1,830,700   $129,300 

 

At November 30, 2023, Destinations Large Cap Equity Fund had deposited cash of $ (23,740) with a broker or brokers as margin collateral on open exchange traded futures contracts.

 

Currency Abbreviations used in this schedule:
EUR — Euro
GBP — British Pound

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund

 

Shares/Units     Security Value  
COMMON STOCKS - 95.7%  
BASIC MATERIALS - 5.0%  
Chemicals - 3.5%  
  476     AdvanSix Inc.   $ 12,438  
  12,800     Air Products & Chemicals Inc.    3,463,040  
  490     Albemarle Corp.    59,422  
  489     American Vanguard Corp.    4,587  
  45,602     Ashland Inc.    3,644,512  
  1,592     Avient Corp.    54,685  
  113,041     Axalta Coating Systems Ltd.*    3,557,400  
  562     Balchem Corp.    70,093  
  24,389     Cabot Corp.    1,851,125  
  415     Celanese Corp., Class A Shares    57,544  
  819     CF Industries Holdings Inc.    61,548  
  633     Chemours Co.    17,363  
  1,174     Codexis Inc.*    2,771  
  1,621     Danimer Scientific Inc.*    1,767  
  1,919     DuPont de Nemours Inc.    137,285  
  499     Eastman Chemical Co.    41,831  
  1,704     Ecovyst Inc.*    16,222  
  950     Element Solutions Inc.    19,912  
  526     FMC Corp.    28,225  
  345     Hawkins Inc.    21,197  
  951     HB Fuller Co.    71,972  
  721     Huntsman Corp.    17,737  
  60,060     Ingevity Corp.*    2,329,727  
  14,453     Innospec Inc.    1,518,577  
  1,070     International Flavors & Fragrances Inc.    80,657  
  193     Intrepid Potash Inc.*    3,964  
  362     Koppers Holdings Inc.    16,352  
  408     Kronos Worldwide Inc.    3,562  
  2,095     Lightwave Logic Inc.*    8,338  
  180,656     Livent Corp.*(a)    2,485,827  
  1,082     LyondellBasell Industries NV, Class A Shares    102,898  
  981     Mativ Holdings Inc.    11,478  
  576     Minerals Technologies Inc.    36,081  
  1,390     Mosaic Co.    49,887  
  27     NewMarket Corp.    14,324  
  89     Oil-Dri Corp. of America    5,052  
  546     Olin Corp.    25,738  
  999     Orion SA    23,806  
  2,800     Perimeter Solutions SA*     11,648  
  34,881     PPG Industries Inc.    4,952,753  
  245     Quaker Chemical Corp.    43,804  
  1,165     Rayonier Advanced Materials Inc.*    3,844  
  306     Rogers Corp.*    39,596  
  534     RPM International Inc.    54,965  
  743     Sensient Technologies Corp.    43,049  
  378     Stepan Co.    31,211  
  632     Trinseo PLC    3,653  
  2,076     Tronox Holdings PLC, Class A Shares    26,469  
  73,092     Valvoline Inc.    2,502,670  
  138     Westlake Corp.    17,718  
        Total Chemicals   27,660,324  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
BASIC MATERIALS - 5.0% - (continued)  
Forest Products & Paper - 0.0%  
  1,454     International Paper Co.   $ 53,711  
  645     Sylvamo Corp.    32,431  
        Total Forest Products & Paper   86,142  
Iron/Steel - 0.5%  
  68,779     ATI Inc.*    3,022,837  
  5,317     Carpenter Technology Corp.    376,497  
  2,142     Cleveland-Cliffs Inc.*    36,757  
  2,056     Commercial Metals Co.    93,198  
  227     Haynes International Inc.    11,141  
  1,052     Nucor Corp.    178,808  
  245     Reliance Steel & Aluminum Co.    67,439  
  466     Schnitzer Steel Industries Inc., Class A Shares    11,944  
  673     Steel Dynamics Inc.    80,174  
  934     United States Steel Corp.    33,531  
        Total Iron/Steel   3,912,326  
Mining - 1.0%  
  754     Alcoa Corp.    20,252  
  303     Caledonia Mining Corp. PLC    3,591  
  11,883     Cameco Corp.    545,667  
  222     Centrus Energy Corp., Class A Shares*    11,104  
  975     Century Aluminum Co.*    7,663  
  5,975     Coeur Mining Inc.*    18,224  
  613     Compass Minerals International Inc.    14,884  
  2,235     Constellium SE, Class A Shares*    38,889  
  945     Dakota Gold Corp.*    2,665  
  2,597     Encore Energy Corp.*     10,128  
  2,796     Energy Fuels Inc.*    22,228  
  105,300     Freeport-McMoRan Inc.    3,929,796  
  10,786     Hecla Mining Co.    53,714  
  3,493     i-80 Gold Corp.*    5,659  
  1,008     Ivanhoe Electric Inc.*    11,451  
  284     Kaiser Aluminum Corp.    16,608  
  454     MP Materials Corp.*    7,205  
  4,335     Novagold Resources Inc.*    18,207  
  664     Perpetua Resources Corp.*    2,098  
  324     Piedmont Lithium Inc.*    8,395  
  277     Royal Gold Inc.    33,739  
  890     SSR Mining Inc.    10,502  
  38     United States Lime & Minerals Inc.    8,056  
  505,476     Uranium Energy Corp.*    3,295,703  
        Total Mining   8,096,428  
        TOTAL BASIC MATERIALS   39,755,220  
COMMUNICATIONS - 2.4%  
Advertising - 0.0%  
  1,577     Advantage Solutions Inc.*    4,337  
  434     Boston Omaha Corp., Class A Shares*    6,293  
  6,824     Clear Channel Outdoor Holdings Inc., Class A Shares*    9,895  
  1,620     Interpublic Group of Cos., Inc.    49,799  
  828     Omnicom Group Inc.    66,762  
  1,463     Stagwell Inc., Class A Shares*    7,344  
  1,842     Trade Desk Inc., Class A Shares*    129,787  
        Total Advertising   274,217  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
COMMUNICATIONS - 2.4% - (continued)  
Internet - 0.9%  
  479     1-800-Flowers.com Inc., Class A Shares*   $ 4,230  
  2,340     BARK Inc.*    1,923  
  814     Beyond Inc.*    15,645  
  1,045     Blade Air Mobility Inc.*    3,313  
  1,796     Bumble Inc., Class A Shares*    24,893  
  1,732     Cargurus Inc., Class A Shares*    37,446  
  971     CarParts.com Inc.*    2,971  
  1,186     Cars.com Inc.*    22,083  
  565     CDW Corp.    119,147  
  763     Cogent Communications Holdings Inc.    48,725  
  52,610     Couchbase Inc.*    1,033,260  
  4,589     Coupang Inc., Class A Shares*    70,120  
  1,262     DoorDash Inc., Class A Shares*    118,603  
  2,236     eBay Inc.    91,698  
  1,100     Entravision Communications Corp., Class A Shares    4,367  
  470     ePlus Inc.*    29,836  
  517     Etsy Inc.*    39,194  
  1,391     Eventbrite Inc., Class A Shares*    9,807  
  100,787     EverQuote Inc., Class A Shares*    1,056,248  
  602     Expedia Group Inc.*    81,980  
  253     F5 Inc.*    43,311  
  2,299     Figs Inc., Class A Shares*    16,691  
  5,096     fuboTV Inc.*    16,256  
  114,123     Gambling.com Group Ltd.*    1,091,016  
  2,330     Gen Digital Inc.    51,446  
  648     GoDaddy Inc., Class A Shares*    64,839  
  746     Grindr Inc.*    5,013  
  444     HealthStream Inc.    11,100  
  2,195     Hims & Hers Health Inc.*    19,514  
  316     IAC Inc.*    15,114  
  424     Liquidity Services Inc.*    8,124  
  1,436     Lyft Inc., Class A Shares*    16,844  
  2,392     Magnite Inc.*    19,327  
  1,172     Match Group Inc.*    37,949  
  399     MediaAlpha Inc., Class A Shares*    4,038  
  833     Mondee Holdings Inc., Class A Shares*    2,199  
  1,111     Nerdy Inc.*    2,889  
  2,640     Nextdoor Holdings Inc.*    4,224  
  631     Okta Inc., Class A Shares*    42,309  
  1,793     Open Lending Corp., Class A Shares*    11,457  
  9,682     Opendoor Technologies Inc.*    29,143  
  292     OptimizeRx Corp.*    2,777  
  607     Perficient Inc.*    37,561  
  2,487     Pinterest Inc., Class A Shares*    84,732  
  1,007     Q2 Holdings Inc.*    35,769  
  58,565     QuinStreet Inc.*    731,477  
  745     Revolve Group Inc., Class A Shares*    9,923  
  2,806     Robinhood Markets Inc., Class A Shares*    24,693  
  519     Roku Inc., Class A Shares*    54,080  
  162,761     Rover Group Inc., Class A Shares*    1,780,605  
  441     Shutterstock Inc.    19,364  
  587     Spotify Technology SA*    108,660  
  1,829     Sprinklr Inc., Class A Shares*    28,679  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
COMMUNICATIONS - 2.4% - (continued)  
Internet - 0.9% - (continued)  
  794     Squarespace Inc., Class A Shares*   $ 22,256  
  1,547     Stitch Fix Inc., Class A Shares*    5,786  
  468     TechTarget Inc.*    13,853  
  486     TripAdvisor Inc.*    8,665  
  1,622     TrueCar Inc.*    4,525  
  182     Tucows Inc., Class A Shares*    3,860  
  2,196     Upwork Inc.*    30,942  
  379     VeriSign Inc.*    80,424  
  428     Vivid Seats Inc., Class A Shares*    3,540  
  349     Wayfair Inc., Class A Shares*    19,474  
  1,186     Yelp Inc., Class A Shares*    51,840  
  829     Ziff Davis Inc.*    52,907  
  239     Zillow Group Inc., Class A Shares*    9,414  
  652     Zillow Group Inc., Class C Shares*    26,693  
        Total Internet   7,580,791  
Media - 0.2%  
  574     AMC Networks Inc., Class A Shares*    8,748  
  24     Cable One Inc.    12,770  
  1,101     DISH Network Corp., Class A Shares*    4,030  
  1,114     EW Scripps Co., Class A Shares*    7,698  
  161     FactSet Research Systems Inc.    73,007  
  1,117     Fox Corp., Class A Shares    32,996  
  573     Fox Corp., Class B Shares    15,849  
  2,675     Gannett Co., Inc.*    4,949  
  1,504     Gray Television Inc.    11,626  
  1,923     iHeartMedia Inc., Class A Shares*    5,038  
  73     Liberty Broadband Corp., Class A Shares*    6,055  
  490     Liberty Broadband Corp., Class C Shares*    40,729  
  648     Liberty Latin America Ltd., Class A Shares*    4,387  
  2,561     Liberty Latin America Ltd., Class C Shares*    17,492  
  105     Liberty Media Corp.-Liberty Formula One, Class A Shares*    6,020  
  814     Liberty Media Corp.-Liberty Formula One, Class C Shares*    51,819  
  655     Liberty Media Corp.-Liberty SiriusXM*    17,678  
  325     Liberty Media Corp.-Liberty SiriusXM, Class A Shares*    8,756  
  682     New York Times Co., Class A Shares    32,047  
  1,606     News Corp., Class A Shares    35,396  
  504     News Corp., Class B Shares    11,612  
  145     Nexstar Media Group Inc., Class A Shares    20,580  
  2,434     Paramount Global, Class B Shares    34,977  
  487     Scholastic Corp.    18,501  
  610     Sinclair Inc.    7,692  
  2,774     Sirius XM Holdings Inc.    12,982  
  79,225     TEGNA Inc.    1,214,519  
  563     Thryv Holdings Inc.*    10,016  
  9,220     Warner Bros Discovery Inc.*    96,349  
  938     WideOpenWest Inc.*    3,752  
        Total Media   1,828,070  
Telecommunications - 1.3%  
  1,259     A10 Networks Inc.    15,725  
  1,409     ADTRAN Holdings Inc.    7,369  
  237     Anterix Inc.*    7,750  
  1,269     Applied Digital Corp.*    5,926  
  1,452     AST SpaceMobile Inc., Class A Shares*    7,042  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
COMMUNICATIONS - 2.4% - (continued)  
Telecommunications - 1.3% - (continued)  
  205     ATN International Inc.   $ 6,240  
  11,449     Aviat Networks Inc.*    347,019  
  2,102     BlackSky Technology Inc.*    2,775  
  1,039     Calix Inc.*    40,095  
  626     Ciena Corp.*    28,702  
  242     Clearfield Inc.*    6,156  
  3,734     CommScope Holding Co., Inc.*    6,236  
  1,370     Consolidated Communications Holdings Inc.*    5,891  
  3,183     Corning Inc.    90,684  
  61,707     Credo Technology Group Holding Ltd.*    1,105,172  
  2,851     DigitalBridge Group Inc.    49,208  
  620     EchoStar Corp., Class A Shares*    6,491  
  2,221     Extreme Networks Inc.*    35,847  
  1,046     Frontier Communications Parent Inc.*    22,897  
  12,379     Globalstar Inc.*    19,683  
  1,192     Gogo Inc.*    11,956  
  396,166     Harmonic Inc.*    4,381,596  
  290     IDT Corp., Class B Shares*    8,511  
  3,580     Infinera Corp.*    13,926  
  473     InterDigital Inc.    47,262  
  528     Iridium Communications Inc.    20,117  
  1,340     Juniper Networks Inc.    38,123  
  17,891     Lumen Technologies Inc.*    23,437  
  590     Luna Innovations Inc.*    3,758  
  530     NETGEAR Inc.*    7,229  
  430     Ooma Inc.*    4,988  
  46     Preformed Line Products Co.    5,732  
  1,617     Ribbon Communications Inc.*    3,444  
  868     Shenandoah Telecommunications Co.    19,330  
  323     Spok Holdings Inc.    5,413  
  1,752     Telephone & Data Systems Inc.    34,514  
  508     Viasat Inc.*    10,389  
  345,285     Viavi Solutions Inc.*    2,789,903  
        Total Telecommunications   9,246,536  
        TOTAL COMMUNICATIONS   18,929,614  
CONSUMER CYCLICAL - 8.9%  
Airlines - 0.0%  
  533     Alaska Air Group Inc.*    20,153  
  281     Allegiant Travel Co.    19,246  
  2,737     American Airlines Group Inc.*    34,021  
  2,685     Delta Air Lines Inc.    99,157  
  702     Frontier Group Holdings Inc.*    2,745  
  922     Hawaiian Holdings Inc.*    4,140  
  5,863     JetBlue Airways Corp.*    25,914  
  778     SkyWest Inc.*    36,784  
  2,492     Southwest Airlines Co.    63,720  
  1,941     Spirit Airlines Inc.    28,766  
  686     Sun Country Airlines Holdings Inc.*    10,413  
  1,371     United Airlines Holdings Inc.*    54,017  
        Total Airlines   399,076  
Apparel - 1.2%  
  483     Capri Holdings Ltd.*    23,397  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
CONSUMER CYCLICAL - 8.9% - (continued)  
Apparel - 1.2% - (continued)  
  12,546     Carter's Inc.   $ 855,512  
  154     Columbia Sportswear Co.    12,063  
  258     Crocs Inc.*    27,247  
  110     Deckers Outdoor Corp.*    73,037  
  6,252     Hanesbrands Inc.*    22,757  
  991     Kontoor Brands Inc.    54,475  
  142,000     Levi Strauss & Co., Class A Shares    2,199,580  
  12,572     Oxford Industries Inc.    1,136,886  
  265     PVH Corp.    25,912  
  170     Ralph Lauren Corp., Class A Shares    21,995  
  153     Rocky Brands Inc.    4,417  
  563     Skechers USA Inc., Class A Shares*    33,166  
  63,708     Steven Madden Ltd.    2,415,807  
  997     Tapestry Inc.    31,575  
  812     Under Armour Inc., Class A Shares*    6,610  
  871     Under Armour Inc., Class C Shares*    6,672  
  65,750     Urban Outfitters Inc.*    2,347,275  
  1,480     VF Corp.    24,760  
  104     Weyco Group Inc.    3,063  
  1,407     Wolverine World Wide Inc.    12,058  
        Total Apparel   9,338,264  
Auto Manufacturers - 0.6%  
  63,398     Blue Bird Corp.*    1,209,634  
  593     Cummins Inc.    132,927  
  3,486     Fisker Inc.*    5,508  
  2,729     Hyliion Holdings Corp.*    1,552  
  3,174     Lucid Group Inc.*    13,394  
  11,137     Nikola Corp.*    10,830  
  2,142     PACCAR Inc.    196,678  
  577     REV Group Inc.    9,111  
  2,779     Rivian Automotive Inc., Class A Shares*    46,576  
  3,051     TuSimple Holdings Inc., Class A Shares*    2,596  
  101,189     Wabash National Corp.    2,218,063  
        Total Auto Manufacturers   3,846,869  
Auto Parts & Equipment - 0.5%  
  1,681     Adient PLC*    54,128  
  385     Allison Transmission Holdings Inc.    20,590  
  2,050     American Axle & Manufacturing Holdings Inc.*    14,268  
  1,132     Aptiv PLC*    93,775  
  5,991     Aurora Innovation Inc., Class A Shares*    13,120  
  982     BorgWarner Inc.    33,084  
  584     Commercial Vehicle Group Inc.*    3,808  
  308     Cooper-Standard Holdings Inc.*    5,464  
  2,306     Dana Inc.    30,462  
  28,393     Dorman Products Inc.*    2,045,432  
  407     Douglas Dynamics Inc.    11,119  
  750     Fox Factory Holding Corp.*    46,882  
  988     Gentex Corp.    30,045  
  586     Gentherm Inc.*    26,909  
  99,379     Goodyear Tire & Rubber Co.*    1,380,374  
  958     Holley Inc.*    3,957  
  2,471     indie Semiconductor Inc., Class A Shares*    18,434  
  248     Lear Corp.    33,170  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
CONSUMER CYCLICAL - 8.9% - (continued)  
Auto Parts & Equipment - 0.5% - (continued)  
  4,845     Luminar Technologies Inc., Class A Shares*   $ 12,112  
  634     Methode Electronics Inc.    15,045  
  1,933     Microvast Holdings Inc.*    2,262  
  204     Miller Industries Inc.    8,107  
  201     Phinia Inc.    5,125  
  1,286     QuantumScape Corp., Class A Shares*    8,153  
  2,261     SES AI Corp.*    4,816  
  627     Shyft Group Inc.    6,941  
  2,802     Solid Power Inc.*    3,951  
  381     Standard Motor Products Inc.    13,705  
  946     Titan International Inc.*    12,364  
  494     Visteon Corp.*    58,623  
  400     XPEL Inc.*    18,280  
        Total Auto Parts & Equipment   4,034,505  
Distribution/Wholesale - 0.5%  
  342     A-Mark Precious Metals Inc.    9,802  
  3,585     Copart Inc.*    180,039  
  10,939     Core & Main Inc., Class A Shares*    383,193  
  2,387     Fastenal Co.    143,148  
  862     Ferguson PLC    147,695  
  738     G-III Apparel Group Ltd.*    21,232  
  241     Global Industrial Co.    8,582  
  571     H&E Equipment Services Inc.    25,301  
  148,447     Hudson Technologies Inc.*    1,833,320  
  1,118     LKQ Corp.    49,785  
  1,505     MRC Global Inc.*    15,562  
  1,912     OPENLANE Inc.*    27,953  
  159     Pool Corp.    55,224  
  2,584     Resideo Technologies Inc.*    42,455  
  1,098     Rush Enterprises Inc., Class A Shares    43,558  
  170     Rush Enterprises Inc., Class B Shares    7,414  
  445     ScanSource Inc.*    14,876  
  1,190     SiteOne Landscape Supply Inc.*    167,576  
  1,300     ThredUp Inc., Class A Shares*    2,535  
  375     Titan Machinery Inc.*    8,572  
  231     VSE Corp.    13,959  
  139     Watsco Inc.    53,130  
  187     WESCO International Inc.    29,144  
  187     WW Grainger Inc.    147,018  
        Total Distribution/Wholesale   3,431,073  
Entertainment - 0.1%  
  978     Accel Entertainment Inc., Class A Shares*    9,917  
  247     AMC Entertainment Holdings Inc., Class A Shares*    1,643  
  185     Atlanta Braves Holdings Inc., Class A Shares*    7,465  
  807     Atlanta Braves Holdings Inc., Class C Shares*    29,012  
  547     Bally's Corp.*    6,301  
  865     Caesars Entertainment Inc.*    38,683  
  300     Churchill Downs Inc.    34,731  
  1,942     Cinemark Holdings Inc.*    27,673  
  1,755     DraftKings Inc., Class A Shares*    67,111  
  1,504     Everi Holdings Inc.*    15,717  
  167,229     Genius Sports Ltd.*    928,121  
  365     Golden Entertainment Inc.    13,009  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
CONSUMER CYCLICAL - 8.9% - (continued)  
Entertainment - 0.1% - (continued)  
  805     IMAX Corp.*   $ 12,840  
  1,911     International Game Technology PLC    51,081  
  107     Liberty Media Corp.-Liberty Live, Class A Shares*    3,526  
  206     Liberty Media Corp.-Liberty Live, Class C Shares*    7,055  
  1,602     Light & Wonder Inc.*    141,649  
  1,066     Lions Gate Entertainment Corp., Class A Shares*    9,413  
  2,111     Lions Gate Entertainment Corp., Class B Shares*    17,648  
  657     Live Nation Entertainment Inc.*    55,333  
  767     Madison Square Garden Entertainment Corp., Class A Shares*    23,225  
  80     Madison Square Garden Sports Corp.*    13,535  
  156     Marriott Vacations Worldwide Corp.    11,372  
  242     Monarch Casino & Resort Inc.    15,217  
  656     Penn Entertainment Inc.*    16,111  
  159     RCI Hospitality Holdings Inc.    9,319  
  841     Red Rock Resorts Inc., Class A Shares    37,450  
  1,141     Rush Street Interactive Inc.*    4,804  
  644     SeaWorld Entertainment Inc.*    31,492  
  1,279     Six Flags Entertainment Corp.*    31,847  
  465     Sphere Entertainment Co.*    15,912  
  2,491     Super Group SGHC Ltd.*    7,573  
  211     TKO Group Holdings Inc., Class A Shares    16,317  
  161     Vail Resorts Inc.    34,987  
        Total Entertainment   1,747,089  
Food Service - 0.0%  
  991     Aramark    27,758  
  908     Sovos Brands Inc.*    19,894  
        Total Food Service   47,652  
Home Builders - 0.8%  
  61,179     Beazer Homes USA Inc.*    1,609,619  
  154     Cavco Industries Inc.*    43,548  
  13,769     Century Communities Inc.    993,296  
  1,301     DR Horton Inc.    166,099  
  441     Dream Finders Homes Inc., Class A Shares*    10,734  
  335     Forestar Group Inc.*    10,228  
  465     Green Brick Partners Inc.*    22,064  
  88     Hovnanian Enterprises Inc., Class A Shares*    7,955  
  16,587     Installed Building Products Inc.    2,496,509  
  1,274     KB Home    66,375  
  237     Landsea Homes Corp.*    2,443  
  435     LCI Industries    47,202  
  1,040     Lennar Corp., Class A Shares    133,037  
  60     Lennar Corp., Class B Shares    6,884  
  368     LGI Homes Inc.*    43,450  
  475     M/I Homes Inc.*    50,117  
  1,036     MDC Holdings Inc.    45,853  
  1,886     Meritage Homes Corp.    266,492  
  13     NVR Inc.*    80,020  
  914     PulteGroup Inc.    80,816  
  2,556     Skyline Champion Corp.*    153,846  
  1,848     Taylor Morrison Home Corp., Class A Shares*    83,345  
  217     Thor Industries Inc.    21,498  
  460     Toll Brothers Inc.    39,509  
  1,748     Tri Pointe Homes Inc.*    51,007  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
CONSUMER CYCLICAL - 8.9% - (continued)  
Home Builders - 0.8% - (continued)  
  519     Winnebago Industries Inc.   $ 33,543  
        Total Home Builders   6,565,489  
Home Furnishings - 0.2%  
  109,755     Arhaus Inc., Class A Shares*    1,022,917  
  702     Daktronics Inc.*    7,322  
  251     Dolby Laboratories Inc., Class A Shares    21,619  
  412     Ethan Allen Interiors Inc.    11,058  
  198     Hooker Furnishings Corp.    3,540  
  489     iRobot Corp.*    17,658  
  567     Leggett & Platt Inc.    12,967  
  254     Lovesac Co.*    5,273  
  1,344     MillerKnoll Inc.    34,675  
  390     Sleep Number Corp.*    3,955  
  338     Snap One Holdings Corp.*    2,417  
  2,250     Sonos Inc.*    33,975  
  704     Tempur Sealy International Inc.    28,385  
  1,399     Vizio Holding Corp., Class A Shares*    9,373  
  209     VOXX International Corp., Class A Shares*    2,245  
  226     Whirlpool Corp.    24,611  
  785     Xperi Inc.*    8,101  
        Total Home Furnishings   1,250,091  
Housewares - 0.0%  
  1,629     Newell Brands Inc.    12,429  
  180     Scotts Miracle-Gro Co.    10,019  
        Total Housewares   22,448  
Leisure Time - 0.9%  
  553     Acushnet Holdings Corp.    31,244  
  545     Bowlero Corp., Class A Shares*    5,603  
  300     Brunswick Corp.    23,661  
  750     Camping World Holdings Inc., Class A Shares    15,855  
  4,170     Carnival Corp.*    62,800  
  535     Clarus Corp.    3,044  
  175     Escalade Inc.    3,255  
  594     Global Business Travel Group I*    3,695  
  558     Harley-Davidson Inc.    16,734  
  98     Johnson Outdoors Inc., Class A Shares    5,149  
  806     Life Time Group Holdings Inc.*    12,219  
  636     Lindblad Expeditions Holdings Inc.*    4,993  
  363     Malibu Boats Inc., Class A Shares*    16,059  
  319     MasterCraft Boat Holdings Inc.*    6,380  
  1,785     Norwegian Cruise Line Holdings Ltd.*    27,257  
  227,294     OneSpaWorld Holdings Ltd.*    2,738,893  
  1,392     Peloton Interactive Inc., Class A Shares*    7,879  
  363     Planet Fitness Inc., Class A Shares*    24,662  
  228     Polaris Inc.    18,803  
  980     Royal Caribbean Cruises Ltd.*    105,311  
  136,608     Topgolf Callaway Brands Corp.*    1,674,814  
  4,632     Virgin Galactic Holdings Inc.*    10,329  
  1,022     Vista Outdoor Inc.*    28,831  
  62,905     Xponential Fitness Inc., Class A Shares*    859,282  
  25,250     YETI Holdings Inc.*    1,076,660  
        Total Leisure Time   6,783,412  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
CONSUMER CYCLICAL - 8.9% - (continued)  
Lodging - 0.0%  
  199     Bluegreen Vacations Holding Corp., Class A Shares   $ 14,829  
  313     Boyd Gaming Corp.    18,483  
  484     Century Casinos Inc.*    2,081  
  130     Choice Hotels International Inc.    14,336  
  578     Full House Resorts Inc.*    2,902  
  1,432     Hilton Grand Vacations Inc.*    49,060  
  1,074     Hilton Worldwide Holdings Inc.    179,916  
  195     Hyatt Hotels Corp., Class A Shares    22,378  
  448     Marcus Corp.    6,232  
  1,230     MGM Resorts International    48,511  
  310     Travel + Leisure Co.    11,048  
  356     Wyndham Hotels & Resorts Inc.    27,533  
  437     Wynn Resorts Ltd.    36,892  
        Total Lodging   434,201  
Office Furnishings - 0.0%  
  818     HNI Corp.    31,959  
  1,042     Interface Inc., Class A Shares    10,535  
  1,655     Steelcase Inc., Class A Shares    20,373  
        Total Office Furnishings   62,867  
Retail - 4.1%  
  37,495     Abercrombie & Fitch Co., Class A Shares*    2,845,496  
  1,313     Academy Sports & Outdoors Inc.    66,792  
  255     Advance Auto Parts Inc.    12,951  
  107,558     American Eagle Outfitters Inc.    2,046,829  
  110     America's Car-Mart Inc.*    8,786  
  1,494     Arko Corp.    11,175  
  364     Asbury Automotive Group Inc.*    76,374  
  125     AutoNation Inc.*    16,909  
  966     Bath & Body Works Inc.    31,511  
  948     Beacon Roofing Supply Inc.*    76,181  
  40,517     Best Buy Co., Inc.    2,874,276  
  488     Big 5 Sporting Goods Corp.    2,894  
  414     BJ's Restaurants Inc.*    12,391  
  560     BJ's Wholesale Club Holdings Inc.*    36,165  
  1,548     Bloomin' Brands Inc.    36,130  
  158     BlueLinx Holdings Inc.*    13,880  
  525     Boot Barn Holdings Inc.*    38,472  
  779     Brinker International Inc.*    28,052  
  545     Buckle Inc.    21,015  
  243     Build-A-Bear Workshop Inc.    5,936  
  272     Burlington Stores Inc.*    46,128  
  620     Caleres Inc.    18,823  
  664     CarMax Inc.*    42,456  
  669     Carrols Restaurant Group Inc.    5,051  
  5,088     Carvana Co., Class A Shares*    159,356  
  157     Casey's General Stores Inc.    43,238  
  2,652     Cava Group Inc.*(a)    90,195  
  46,860     Cheesecake Factory Inc.    1,469,061  
  2,155     Chico's FAS Inc.*    16,249  
  223     Children's Place Inc.*    5,073  
  326     Chuy's Holdings Inc.*    11,475  
  3,072     Clean Energy Fuels Corp.*    11,090  
  391     Cracker Barrel Old Country Store Inc.    26,248  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
CONSUMER CYCLICAL - 8.9% - (continued)  
Retail - 4.1% - (continued)  
  506     Darden Restaurants Inc.   $ 79,174  
  642     Dave & Buster's Entertainment Inc.*    26,348  
  999     Denny's Corp.*    9,480  
  893     Designer Brands Inc., Class A Shares    10,395  
  1,057     Destination XL Group Inc.*    3,995  
  254     Dick's Sporting Goods Inc.    33,045  
  62     Dillard's Inc., Class A Shares    21,520  
  281     Dine Brands Global Inc.    12,215  
  873     Dollar Tree Inc.*    107,894  
  148     Domino's Pizza Inc.    58,148  
  514     El Pollo Loco Holdings Inc.*    4,271  
  1,906     EVgo Inc., Class A Shares*    5,947  
  73,233     First Watch Restaurant Group Inc.*     1,324,053  
  662     FirstCash Holdings Inc.    74,144  
  231     Five Below Inc.*    43,534  
  438     Floor & Decor Holdings Inc., Class A Shares*    40,169  
  1,456     Foot Locker Inc.    39,210  
  2,440     Freshpet Inc.*    173,118  
  1,141     GameStop Corp., Class A Shares*    16,602  
  5,662     Gap Inc.    113,636  
  223     Genesco Inc.*    8,334  
  28,187     Genuine Parts Co.    3,742,670  
  723     GMS Inc.*    48,904  
  245     Group 1 Automotive Inc.    69,114  
  1,089     GrowGeneration Corp.*    2,897  
  521     Guess? Inc.    11,472  
  269     Haverty Furniture Cos Inc.    8,430  
  228     Hibbett Inc.    14,261  
  80     J Jill Inc.*    2,361  
  365     Jack in the Box Inc.    26,389  
  479     Kohl's Corp.    11,233  
  15,691     Kura Sushi USA Inc., Class A Shares*    980,374  
  771     La-Z-Boy Inc.    27,131  
  3,176     Leslie's Inc.*    15,658  
  114     Lithia Motors Inc., Class A Shares    30,437  
  1,161     Macy's Inc.    18,413  
  385     MarineMax Inc.*    11,485  
  282     Movado Group Inc.    7,374  
  1,642     MSC Industrial Direct Co., Inc., Class A Shares    159,964  
  14,466     Murphy USA Inc.    5,345,910  
  1,382     National Vision Holdings Inc.*    25,498  
  501     Nordstrom Inc.    7,826  
  890     Nu Skin Enterprises Inc., Class A Shares    15,148  
  584     ODP Corp.*    26,601  
  3,438     Ollie's Bargain Outlet Holdings Inc.*    251,902  
  209     OneWater Marine Inc., Class A Shares*    5,612  
  580     Papa John's International Inc.    37,839  
  378     Patrick Industries Inc.    31,011  
  207     PC Connection Inc.    12,343  
  86     Penske Automotive Group Inc.    12,840  
  376     PetMed Express Inc.    2,606  
  818     Portillo's Inc., Class A Shares*    12,712  
  478     Potbelly Corp.*    4,302  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
CONSUMER CYCLICAL - 8.9% - (continued)  
Retail - 4.1% - (continued)  
  457     PriceSmart Inc.   $ 30,797  
  365     Red Robin Gourmet Burgers Inc.*    3,234  
  73     RH*    19,708  
  1,403     Ross Stores Inc.    182,923  
  1,921     Sally Beauty Holdings Inc.*    18,576  
  475     Savers Value Village Inc.*    7,149  
  667     Shake Shack Inc., Class A Shares*    40,394  
  334     Shoe Carnival Inc.    8,113  
  784     Signet Jewelers Ltd.    64,429  
  283     Sonic Automotive Inc., Class A Shares    14,509  
  700     Sportsman's Warehouse Holdings Inc.*    3,381  
  1,721     Sweetgreen Inc., Class A Shares*    16,195  
  41,300     Target Corp.    5,526,353  
  283     Texas Roadhouse Inc., Class A Shares    31,854  
  505     Tile Shop Holdings Inc.*    3,409  
  412     Tilly's Inc., Class A Shares*    3,407  
  458     Tractor Supply Co.    92,979  
  209     Ulta Beauty Inc.*    89,032  
  483     Vera Bradley Inc.*    3,627  
  332     Victoria's Secret & Co.*    8,947  
  3,003     Walgreens Boots Alliance Inc.    59,880  
  148,983     Warby Parker Inc., Class A Shares*    1,550,913  
  740     Wendy's Co.    13,875  
  268     Williams-Sonoma Inc.    50,261  
  1,280     Wingstop Inc.    307,661  
  51     Winmark Corp.    21,930  
  1,172     Yum! Brands Inc.    147,145  
  288     Zumiez Inc.*    5,437  
        Total Retail   31,718,725  
Textiles - 0.0%  
  265     UniFirst Corp.    45,739  
Toys/Games/Hobbies - 0.0%  
  631     Funko Inc., Class A Shares*    4,089  
  550     Hasbro Inc.    25,525  
  154     JAKKS Pacific Inc.*    4,534  
  1,484     Mattel Inc.*    28,196  
        Total Toys/Games/Hobbies   62,344  
        TOTAL CONSUMER CYCLICAL   69,789,844  
CONSUMER NON-CYCLICAL - 22.6%  
Agriculture - 0.0%  
  131     Alico Inc.    3,663  
  570     Andersons Inc.    28,420  
  626     Bunge Global SA    68,779  
  668     Darling Ingredients Inc.*    29,305  
  1,283     Dole PLC    14,767  
  610     Fresh Del Monte Produce Inc.    13,908  
  317     Limoneira Co.    4,818  
  390     Tejon Ranch Co.*    6,158  
  316     Turning Point Brands Inc.    7,214  
  430     Universal Corp.    24,192  
  2,577     Vector Group Ltd.    27,600  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
CONSUMER NON-CYCLICAL - 22.6% - (continued)  
Agriculture - 0.0% - (continued)  
  568     Vital Farms Inc.*   $ 7,566  
        Total Agriculture   236,390  
Beverages - 1.0%  
  40     Boston Beer Co., Inc., Class A Shares*    14,190  
  860     BRC Inc., Class A Shares*    3,664  
  211     Brown-Forman Corp., Class A Shares    12,709  
  773     Brown-Forman Corp., Class B Shares    45,406  
  23,754     Celsius Holdings Inc.*    1,176,061  
  84     Coca-Cola Consolidated Inc.    61,700  
  806     Duckhorn Portfolio Inc.*    8,278  
  31,865     MGP Ingredients Inc.    2,722,864  
  734     Molson Coors Beverage Co., Class B Shares    45,170  
  422     National Beverage Corp.*    20,062  
  2,764     Primo Water Corp.    39,719  
  108,283     Vita Coco Co., Inc.*    3,038,421  
  516     Westrock Coffee Co.*    4,747  
        Total Beverages   7,192,991  
Biotechnology - 5.9%  
  919     2seventy bio Inc.*    1,682  
  717     4D Molecular Therapeutics Inc.*    9,120  
  1,107     89bio Inc.*    8,900  
  2,134     ACADIA Pharmaceuticals Inc.*    47,546  
  468     Actinium Pharmaceuticals Inc.*    2,143  
  289,295     ADMA Biologics Inc.*    1,070,391  
  19,939     Aerovate Therapeutics Inc.*(a)    313,242  
  6,488     Agenus Inc.*    5,042  
  905     Akero Therapeutics Inc.*    15,150  
  843     Aldeyra Therapeutics Inc.*    2,335  
  1,492     Allakos Inc.*    3,312  
  1,490     Allogene Therapeutics Inc.*    3,501  
  518     Alnylam Pharmaceuticals Inc.*    87,153  
  589     Alpine Immune Sciences Inc.*    9,129  
  870     Altimmune Inc.*    2,749  
  400     ALX Oncology Holdings Inc.*    3,136  
  4,933     Amicus Therapeutics Inc.*    54,362  
  349     AnaptysBio Inc.*    4,935  
  1,306     Anavex Life Sciences Corp.*    9,416  
  8,967     ANI Pharmaceuticals Inc.*    446,646  
  3,296     Apellis Pharmaceuticals Inc.*    177,556  
  48,218     Apogee Therapeutics Inc.*(a)    940,733  
  2,271     Arbutus Biopharma Corp.*    4,656  
  674     Arcellx Inc.*    35,405  
  422     Arcturus Therapeutics Holdings Inc.*    10,103  
  944     Arcus Biosciences Inc.*    14,217  
  935     Arcutis Biotherapeutics Inc.*    1,720  
  3,815     Ardelyx Inc.*    17,206  
  1,782     Arrowhead Pharmaceuticals Inc.*    37,778  
  51,065     Astria Therapeutics Inc.*    237,452  
  1,703     Atara Biotherapeutics Inc.*    1,124  
  1,395     Atea Pharmaceuticals Inc.*    4,171  
  500     Aura Biosciences Inc.*    4,010  
  2,417     Aurinia Pharmaceuticals Inc.*    20,883  
  1,126     Avid Bioservices Inc.*    5,731  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
CONSUMER NON-CYCLICAL - 22.6% - (continued)  
Biotechnology - 5.9% - (continued)  
  1,300     Avidity Biosciences Inc.*   $ 10,153  
  1,678     Axsome Therapeutics Inc.*    113,181  
  1,236     Beam Therapeutics Inc.*    34,707  
  3,368     BioCryst Pharmaceuticals Inc.*    19,804  
  602     Biogen Inc.*    140,916  
  36,385     Biohaven Ltd.*    1,212,348  
  784     BioMarin Pharmaceutical Inc.*    71,407  
  45,622     Biomea Fusion Inc.*(a)    687,524  
  89     Bio-Rad Laboratories Inc., Class A Shares*    27,138  
  2,001     Bluebird Bio Inc.*    7,644  
  1,070     Blueprint Medicines Corp.*    74,515  
  2,015     Bridgebio Pharma Inc.*    57,851  
  627     Cabaletta Bio Inc.*    10,063  
  1,390     Caribou Biosciences Inc.*    8,159  
  2,655     Cartesian Therapeutics Inc.*    3,584  
  718     Cassava Sciences Inc.*    14,956  
  306     Celcuity Inc.*    4,489  
  826     Celldex Therapeutics Inc.*    24,953  
  1,099     Cerevel Therapeutics Holdings Inc.*    28,497  
  524     Certara Inc.*    7,551  
  1,457     Cogent Biosciences Inc.*    11,175  
  1,681     Compass Therapeutics Inc.*    2,774  
  2,981     Corteva Inc.    134,741  
  166,584     Crinetics Pharmaceuticals Inc.*    5,295,705  
  436     Cullinan Oncology Inc.*    3,571  
  98,442     Cymabay Therapeutics Inc.*    1,883,195  
  2,189     Cytek Biosciences Inc.*    15,192  
  1,641     Cytokinetics Inc.*    54,941  
  56,608     Day One Biopharmaceuticals Inc.*    655,521  
  946     Deciphera Pharmaceuticals Inc.*    11,929  
  2,083     Denali Therapeutics Inc.*    38,577  
  163     Disc Medicine Inc., Class A Shares*    8,994  
  186,670     Dynavax Technologies Corp.*    2,557,379  
  791     Dyne Therapeutics Inc.*    8,764  
  777     Edgewise Therapeutics Inc.*    4,724  
  1,491     Editas Medicine Inc.*    15,700  
  1,151     Emergent BioSolutions Inc.*    2,463  
  400     Entrada Therapeutics Inc.*    5,188  
  1,415     Erasca Inc.*    2,405  
  768     Evolus Inc.*    7,273  
  1,353     Exelixis Inc.*    29,509  
  478     EyePoint Pharmaceuticals Inc.*    2,987  
  1,931     Fate Therapeutics Inc.*    4,808  
  340     Genelux Corp.*    4,046  
  1,029     Generation Bio Co.*    1,163  
  8,893     Geron Corp.*    17,163  
  1,986     Guardant Health Inc.*    49,988  
  5,381     Halozyme Therapeutics Inc.*    207,760  
  739     Harvard Bioscience Inc.*    3,148  
  384     HilleVax Inc.*    5,265  
  1,130     Humacyte Inc.*    2,995  
  504     Icosavax Inc.*    5,100  
  95,152     Ideaya Biosciences Inc.*    2,992,530  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
CONSUMER NON-CYCLICAL - 22.6% - (continued)  
Biotechnology - 5.9% - (continued)  
  662     Illumina Inc.*   $ 67,491  
  2,105     ImmunityBio Inc.*    7,746  
  196,764     ImmunoGen Inc.*    5,775,023  
  954     Immunovant Inc.*    37,330  
  775     Incyte Corp.*    42,114  
  622     Inhibrx Inc.*    12,919  
  1,072     Innoviva Inc.*    14,847  
  2,317     Insmed Inc.*    57,971  
  1,554     Intellia Therapeutics Inc.*    46,045  
  1,644     Intra-Cellular Therapies Inc.*    100,892  
  602     Ionis Pharmaceuticals Inc.*    29,781  
  4,093     Iovance Biotherapeutics Inc.*    24,845  
  449     iTeos Therapeutics Inc.*    4,203  
  320     Janux Therapeutics Inc.*    2,794  
  1,015     Karuna Therapeutics Inc.*    194,078  
  2,584     Karyopharm Therapeutics Inc.*    1,990  
  406     Keros Therapeutics Inc.*    12,318  
  57,829     Kiniksa Pharmaceuticals Ltd., Class A Shares*    935,095  
  2,217     Krystal Biotech Inc.*    231,078  
  692     Kymera Therapeutics Inc.*    14,366  
  298     Ligand Pharmaceuticals Inc.*    17,376  
  2,263     Lineage Cell Therapeutics Inc.*    2,222  
  857     Liquidia Corp.*    6,136  
  1,101     MacroGenics Inc.*    9,039  
  475     Maravai LifeSciences Holdings Inc., Class A Shares*    2,423  
  743     MeiraGTx Holdings PLC*    3,878  
  184     Merrimack Pharmaceuticals Inc.*    2,322  
  2,408     Mersana Therapeutics Inc.*    3,973  
  199     Mirati Therapeutics Inc.*    11,293  
  536     Monte Rosa Therapeutics Inc.*    1,662  
  291     Mural Oncology PLC*    1,051  
  1,436     Myriad Genetics Inc.*    27,413  
  72,462     NeoGenomics Inc.*    1,316,635  
  1,575     Novavax Inc.*    8,663  
  885     Nurix Therapeutics Inc.*    5,505  
  59,477     Nuvalent Inc., Class A Shares*    3,888,011  
  2,677     Nuvation Bio Inc.*    3,319  
  502     Olema Pharmaceuticals Inc.*    7,003  
  1,125     Omeros Corp.*    2,464  
  1,284     Organogenesis Holdings Inc., Class A Shares*    3,274  
  1,088     Ovid Therapeutics Inc.*    3,237  
  621     PDS Biotechnology Corp.*    3,266  
  578     Phathom Pharmaceuticals Inc.*    4,040  
  1,011     Pliant Therapeutics Inc.*    14,043  
  1,638     Point Biopharma Global Inc., Class A Shares*    22,277  
  1,531     Poseida Therapeutics Inc., Class A Shares*    4,088  
  2,488     Precigen Inc.*    2,787  
  735     Prime Medicine Inc.*    5,336  
  823     ProKidney Corp., Class A Shares*    1,383  
  732     Prothena Corp. PLC*    23,849  
  1,255     PTC Therapeutics Inc.*    28,890  
  540     RAPT Therapeutics Inc.*    7,841  
  2,438     Recursion Pharmaceuticals Inc., Class A Shares*    16,700  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
CONSUMER NON-CYCLICAL - 22.6% - (continued)  
Biotechnology - 5.9% - (continued)  
  734     REGENXBIO Inc.*   $ 14,328  
  1,624     Relay Therapeutics Inc.*    12,846  
  750     Replimune Group Inc.*    8,385  
  2,425     REVOLUTION Medicines Inc.*    56,575  
  3,152     Rigel Pharmaceuticals Inc.*    3,593  
  1,000     Rocket Pharmaceuticals Inc.*    23,330  
  1,485     Roivant Sciences Ltd.*    14,197  
  1,562     Royalty Pharma PLC, Class A Shares    42,283  
  943     Sage Therapeutics Inc.*    18,464  
  1,737     Sana Biotechnology Inc.*    7,052  
  376     Sarepta Therapeutics Inc.*    30,561  
  1,687     Savara Inc.*    6,495  
  784     Scholar Rock Holding Corp.*    9,871  
  586     Seagen Inc.*    124,941  
  1,035     SpringWorks Therapeutics Inc.*    31,454  
  90,054     Structure Therapeutics Inc., ADR*    5,015,107  
  1,105     Sutro Biopharma Inc.*    2,884  
  1,179     Syndax Pharmaceuticals Inc.*    19,624  
  814     Tango Therapeutics Inc.*    6,186  
  434     Tarsus Pharmaceuticals Inc.*    7,174  
  782     Terns Pharmaceuticals Inc.*    3,480  
  2,444     TG Therapeutics Inc.*    31,308  
  1,030     Theravance Biopharma Inc.*    10,794  
  343     Third Harmonic Bio Inc.*    2,916  
  1,318     Travere Therapeutics Inc.*    8,277  
  1,014     Twist Bioscience Corp.*    24,387  
  256     Tyra Biosciences Inc.*    2,998  
  2,334     Ultragenyx Pharmaceutical Inc.*    90,676  
  190     United Therapeutics Corp.*    45,600  
  354     UroGen Pharma Ltd.*    4,669  
  830     Ventyx Biosciences Inc.*    1,793  
  621     Vera Therapeutics Inc., Class A Shares*    8,415  
  48,241     Veracyte Inc.*    1,234,970  
  843     Vericel Corp.*    29,960  
  919     Verve Therapeutics Inc.*    10,366  
  1,715     Viking Therapeutics Inc.*    20,957  
  1,506     Vir Biotechnology Inc.*    14,292  
  764     Viridian Therapeutics Inc.*    12,789  
  1,097     WaVe Life Sciences Ltd.*    5,825  
  1,033     Xencor Inc.*    18,945  
  119,918     Xenon Pharmaceuticals Inc.*    4,386,600  
  1,037     Zentalis Pharmaceuticals Inc.*    11,666  
  597     Zevra Therapeutics Inc.*    2,842  
  995     Zymeworks Inc.*    8,826  
        Total Biotechnology   44,741,774  
Commercial Services - 5.4%  
  1,459     2U Inc.*    1,433  
  553     Aaron's Co., Inc.    4,872  
  1,167     ABM Industries Inc.    47,835  
  668     Acacia Research Corp.*    2,432  
  905     ADT Inc.    5,312  
  17,698     Adtalem Global Education Inc.*    1,008,255  
  925     Affirm Holdings Inc., Class A Shares*    31,829  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
CONSUMER NON-CYCLICAL - 22.6% - (continued)  
Commercial Services - 5.4% - (continued)  
  844     Alarm.com Holdings Inc.*   $ 45,981  
  7,014     Alight Inc., Class A Shares*    53,657  
  418     Alta Equipment Group Inc.    3,988  
  700     AMN Healthcare Services Inc.*    47,460  
  11,432     API Group Corp.*    346,961  
  240,233     Arlo Technologies Inc.*    2,183,718  
  87     Avis Budget Group Inc.*    15,908  
  121     Barrett Business Services Inc.    13,304  
  2,269     Block Inc., Class A Shares*    143,923  
  545     Booz Allen Hamilton Holding Corp., Class A Shares    68,196  
  244     Bright Horizons Family Solutions Inc.*    21,335  
  773     BrightView Holdings Inc.*    5,906  
  812     Brink's Co.    64,067  
  248     Carriage Services Inc., Class A Shares    5,602  
  250     Cass Information Systems Inc.    10,337  
  845     CBIZ Inc.*    48,917  
  2,108     Chegg Inc.*    20,932  
  317     Cimpress PLC*    22,345  
  362     Cintas Corp.    200,276  
  2,018     Clarivate PLC*    15,660  
  2,032     Cleanspark Inc.*    12,680  
  2,021     CoreCivic Inc.*    29,244  
  154     CorVel Corp.*    32,164  
  1,690     CoStar Group Inc.*    140,338  
  2,296     Coursera Inc.*    45,346  
  123     CRA International Inc.    11,657  
  617     Cross Country Healthcare Inc.*    12,507  
  1,054     Custom Truck One Source Inc.*    6,124  
  782     Deluxe Corp.    14,303  
  165     Distribution Solutions Group Inc.*    4,201  
  273     Driven Brands Holdings Inc.*    3,590  
  1,174     Dun & Bradstreet Holdings Inc.    12,433  
  464     Ennis Inc.    9,851  
  32,110     Equifax Inc.    6,990,668  
  202     Euronet Worldwide Inc.*    17,618  
  621     European Wax Center Inc., Class A Shares*    8,868  
  1,152     EVERTEC Inc.    42,589  
  984     First Advantage Corp.    15,262  
  301     FleetCor Technologies Inc.*    72,391  
  82,427     Flywire Corp.*    1,920,549  
  219     Forrester Research Inc.*    5,295  
  212     Franklin Covey Co.*    8,243  
  1,559     FTI Consulting Inc.*    343,697  
  321     Gartner Inc.*    139,584  
  2,150     GEO Group Inc.*    21,823  
  51,094     Global Payments Inc.    5,949,385  
  63     Graham Holdings Co., Class B Shares    39,510  
  1,223     Grand Canyon Education Inc.*    167,209  
  840     Green Dot Corp., Class A Shares*    6,737  
  494     GXO Logistics Inc.*    27,792  
  642     H&R Block Inc.    29,160  
  453     Hackett Group Inc.    10,106  
  1,338     Healthcare Services Group Inc.*    12,992  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
CONSUMER NON-CYCLICAL - 22.6% - (continued)  
Commercial Services - 5.4% - (continued)  
  362     Heidrick & Struggles International Inc.   $ 9,839  
  497     Herc Holdings Inc.    61,459  
  593     Hertz Global Holdings Inc.*    4,946  
  69,114     Huron Consulting Group Inc.*    7,199,605  
  413     I3 Verticals Inc., Class A Shares*    8,314  
  330     ICF International Inc.    46,184  
  616     Information Services Group Inc.    2,563  
  641     Insperity Inc.    72,914  
  756     John Wiley & Sons Inc., Class A Shares    22,839  
  579     Kelly Services Inc., Class A Shares    12,037  
  345     Kforce Inc.    24,047  
  50,762     Korn Ferry    2,626,426  
  2,317     Laureate Education Inc., Class A Shares    30,422  
  1,856     Legalzoom.com Inc.*    21,400  
  433     Lincoln Educational Services Corp.*    4,010  
  1,163     LiveRamp Holdings Inc.*    38,565  
  215     ManpowerGroup Inc.    15,955  
  3,035     Marathon Digital Holdings Inc.*    36,329  
  156     MarketAxess Holdings Inc.    37,459  
  8,630     Marqeta Inc., Class A Shares*    54,801  
  529     Matthews International Corp., Class A Shares    18,065  
  193     Medifast Inc.    12,811  
  314     Mister Car Wash Inc.*    2,286  
  559     Monro Inc.    16,166  
  109     Morningstar Inc.    30,886  
  7,078     Multiplan Corp.*    9,201  
  260     National Research Corp.    10,772  
  177     Paylocity Holding Corp.*    27,731  
  4,693     Payoneer Global Inc.*    24,310  
  601     Paysafe Ltd.*    6,076  
  1,196     Perdoceo Education Corp.    20,834  
  160,997     Performant Financial Corp.*    481,381  
  821     PROG Holdings Inc.*    22,380  
  1,384     Progyny Inc.*    47,554  
  554     Quad/Graphics Inc.*    2,554  
  15,401     Quanta Services Inc.    2,900,162  
  663     R1 RCM Inc.*    7,015  
  763     RB Global Inc.    48,588  
  124,856     Remitly Global Inc.*    2,689,398  
  1,471     Repay Holdings Corp., Class A Shares*    11,033  
  593     Resources Connection Inc.    8,065  
  3,020     Riot Platforms Inc.*    37,901  
  444     Robert Half Inc.    36,399  
  1,074     Rollins Inc.    43,755  
  5,882     Sabre Corp.*    20,763  
  619     Service Corp. International    37,926  
  234     Shift4 Payments Inc., Class A Shares*    15,402  
  176     SoundThinking Inc.*    3,918  
  353     SP Plus Corp.*    18,056  
  579     Sterling Check Corp.*    7,330  
  5,123     StoneCo Ltd., Class A Shares*    79,919  
  401     Strategic Education Inc.    35,677  
  50,917     Stride Inc.*    3,084,552  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
CONSUMER NON-CYCLICAL - 22.6% - (continued)  
Commercial Services - 5.4% - (continued)  
  571     Target Hospitality Corp.*   $ 6,230  
  2,383     Terawulf Inc.*    2,764  
  744     Textainer Group Holdings Ltd.    36,627  
  1,497     Toast Inc., Class A Shares*    22,260  
  133     Transcat Inc.*    13,031  
  810     TransUnion    47,563  
  662     TriNet Group Inc.*    76,746  
  557     TrueBlue Inc.*    7,765  
  1,540     Udemy Inc.*    22,915  
  425     U-Haul Holding Co.    23,014  
  287     United Rentals Inc.    136,618  
  593     Universal Technical Institute Inc.*    6,920  
  977     Upbound Group Inc.    28,431  
  209     V2X Inc.*    8,862  
  596     Verisk Analytics Inc., Class A Shares    143,892  
  511     Vestis Corp.    9,356  
  370     Viad Corp.*    12,321  
  180     WEX Inc.*    31,784  
  222     Willdan Group Inc.*    4,440  
  829     WillScot Mobile Mini Holdings Corp.*    34,586  
  212,766     WW International Inc.*    1,534,043  
  1,231     ZipRecruiter Inc., Class A Shares*    16,508  
        Total Commercial Services   42,980,013  
Cosmetics/Personal Care - 0.3%  
  1,496     Beauty Health Co.*    3,830  
  1,537     Coty Inc., Class A Shares*    17,522  
  906     Edgewell Personal Care Co.    31,538  
  16,159     elf Beauty Inc.*    1,908,216  
  1,173     Inter Parfums Inc.    146,813  
  671     Waldencast PLC, Class A Shares*    6,401  
        Total Cosmetics/Personal Care   2,114,320  
Food - 2.1%  
  1,753     Albertsons Cos. Inc., Class A Shares    38,163  
  1,282     B&G Foods Inc.    11,846  
  1,078     Beyond Meat Inc.*    7,859  
  318     Calavo Growers Inc.    6,897  
  675     Cal-Maine Foods Inc.    32,346  
  807     Campbell Soup Co.    32,425  
  634     Chefs' Warehouse Inc.*    17,055  
  1,997     Conagra Brands Inc.    56,495  
  801     Flowers Foods Inc.    16,669  
  409     Grocery Outlet Holding Corp.*      11,538  
  84,438     Hain Celestial Group Inc.*    892,510  
  745     HF Foods Group Inc.*    3,531  
  1,216     Hormel Foods Corp.    37,197  
  251     Ingles Markets Inc., Class A Shares    20,487  
  28,028     Ingredion Inc.    2,872,590  
  266     J & J Snack Foods Corp.    43,770  
  485     JM Smucker Co.    53,219  
  161     John B Sanfilippo & Son Inc.    14,818  
  1,090     Kellanova    57,269  
  1,561     Krispy Kreme Inc.    20,293  
  69,629     Kroger Co.    3,082,476  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
CONSUMER NON-CYCLICAL - 22.6% - (continued)  
Food - 2.1% - (continued)  
  610     Lamb Weston Holdings Inc.   $ 61,018  
  10,711     Lancaster Colony Corp.   1,776,955  
  1,052     McCormick & Co., Inc.   68,201  
  888     Mission Produce Inc.*   7,512  
  52     Nathan's Famous Inc.   3,507  
  212     Natural Grocers by Vitamin Cottage Inc.   3,326  
  56,161     Performance Food Group Co.*   3,653,273  
  178     Pilgrim's Pride Corp.*   4,550  
  227     Post Holdings Inc.*   19,393  
  82,982     Real Good Food Co., Inc., Class A Shares*   157,666  
  1     Seaboard Corp.   3,515  
  95     Seneca Foods Corp., Class A Shares*   4,643  
  1,598     Simply Good Foods Co.*   61,907  
  620     SpartanNash Co.   13,745  
  5,768     Sprouts Farmers Market Inc.*   248,485  
  1,700     SunOpta Inc.*   8,398  
  79,930     TreeHouse Foods Inc.*   3,253,950  
  1,166     Tyson Foods Inc., Class A Shares   54,615  
  1,051     United Natural Foods Inc.*   15,292  
  954     US Foods Holding Corp.*   41,814  
  1,287     Utz Brands Inc.   17,001  
  161     Village Super Market Inc., Class A Shares   4,051  
  294     Weis Markets Inc.   17,743  
  285     WK Kellogg Co.   3,192  
        Total Food   16,833,205  
Healthcare-Products - 3.0%  
  392     10X Genomics Inc., Class A Shares*   17,060  
  1,695     Accuray Inc.*   4,424  
  2,059     Adaptive Biotechnologies Corp.*   9,018  
  1,234     Agilent Technologies Inc.   157,705  
  319     Align Technology Inc.*   68,202  
  163,999     Alphatec Holdings Inc.*   1,946,668  
  682     AngioDynamics Inc.*   4,453  
  713     Artivion Inc.*   12,649  
  823     AtriCure Inc.*   29,200  
  25     Atrion Corp.   7,709  
  827     Avanos Medical Inc.*   17,822  
  2,830     Avantor Inc.*   59,939  
  455     Avita Medical Inc.*   4,850  
  744     Axogen Inc.*   4,873  
  2,896     Axonics Inc.*   162,147  
  275     Azenta Inc.*   15,502  
  2,117     Baxter International Inc.   76,381  
  637     BioLife Solutions Inc.*   7,880  
  654     Bio-Techne Corp.   41,137  
  449     Bruker Corp.   29,225  
  3,117     Butterfly Network Inc.*   2,968  
  966     CareDx Inc.*   9,380  
  458     Castle Biosciences Inc.*   9,155  
  3,215     Cerus Corp.*   5,176  
  540     CONMED Corp.   57,926  
  204     Cooper Cos., Inc.   68,732  
  205     CVRx Inc.*   4,196  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
CONSUMER NON-CYCLICAL - 22.6% - (continued)  
Healthcare-Products - 3.0% - (continued)  
  892     DENTSPLY SIRONA Inc.   $ 28,321  
  1,036     Embecta Corp.   19,000  
  226     Enovis Corp.*   11,178  
  73,961     Envista Holdings Corp.*   1,678,175  
  750     Exact Sciences Corp.*   48,000  
  3,110     Glaukos Corp.*   198,698  
  36,863     Globus Medical Inc., Class A Shares*   1,655,886  
  881     Haemonetics Corp.*   71,246  
  1,018     Hologic Inc.*   72,583  
  88     ICU Medical Inc.*   7,723  
  344     IDEXX Laboratories Inc.*   160,242  
  940     Inari Medical Inc.*   56,109  
  334     InfuSystem Holdings Inc.*   3,350  
  1,366     Inmode Ltd.*   32,443  
  410     Inogen Inc.*   2,386  
  4,757     Inspire Medical Systems Inc.*   691,240  
  291     Insulet Corp.*   55,025  
  585     Integer Holdings Corp.*   51,024  
  77,926     Integra LifeSciences Holdings Corp.*   3,053,920  
  137     iRadimed Corp.   6,020  
  540     iRhythm Technologies Inc.*   46,051  
  1,194     Lantheus Holdings Inc.*   85,514  
  11,492     LeMaitre Vascular Inc.   605,628  
  955     LivaNova PLC*   42,832  
  184     Masimo Corp.*   17,252  
  1,584     MaxCyte Inc.*   7,524  
  999     Merit Medical Systems Inc.*   71,488  
  2,067     MiMedx Group Inc.*   16,061  
  2,791     Natera Inc.*   156,156  
  885     Nautilus Biotechnology Inc., Class A Shares*   2,434  
  3,829     Neogen Corp.*   64,978  
  640     Nevro Corp.*   11,085  
  462     Novocure Ltd.*   5,669  
  1,705     OmniAb Inc.*   7,485  
  794     Omnicell Inc.*   26,488  
  1,323     OraSure Technologies Inc.*   9,684  
  645     Orthofix Medical Inc.*   7,127  
  289     OrthoPediatrics Corp.*   8,910  
  4,451     Pacific Biosciences of California Inc.*   37,744  
  799     Paragon 28 Inc.*   8,829  
  1,514     Patterson Cos Inc.   38,471  
  153     Penumbra Inc.*   33,980  
  35,916     PROCEPT BioRobotics Corp.*   1,331,406  
  679     Pulmonx Corp.*   7,401  
  284     Pulse Biosciences Inc.*   2,565  
  957     QIAGEN NV*   39,390  
  630     Quanterix Corp.*   15,101  
  1,784     Quantum-Si Inc.*   2,872  
  46,291     QuidelOrtho Corp.*   3,181,580  
  234     Repligen Corp.*   36,797  
  608     ResMed Inc.   95,900  
  40,130     Revvity Inc.   3,567,557  
  49,986     RxSight Inc.*   1,507,578  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
CONSUMER NON-CYCLICAL - 22.6% - (continued)  
Healthcare-Products - 3.0% - (continued)  
  88     Semler Scientific Inc.*   $ 3,392  
  153     Shockwave Medical Inc.*   26,706  
  626     SI-BONE Inc.*   11,869  
  697     Silk Road Medical Inc.*   6,503  
  2,804     SomaLogic Inc.*   7,907  
  859     STAAR Surgical Co.*   26,938  
  415     STERIS PLC   83,390  
  253     Surmodics Inc.*   8,303  
  434     Tactile Systems Technology Inc.*   5,785  
  286     Tandem Diabetes Care Inc.*   5,789  
  198     Teleflex Inc.   44,687  
  40,817     TransMedics Group Inc.*   3,089,031  
  821     Treace Medical Concepts Inc.*   7,192  
  126     UFP Technologies Inc.*   20,974  
  62     Utah Medical Products Inc.   5,227  
  699     Varex Imaging Corp.*   13,176  
  245     Waters Corp.*   68,749  
  309     West Pharmaceutical Services Inc.   108,385  
  879     Zimmer Biomet Holdings Inc.   102,236  
  470     Zimvie Inc.*   4,442  
  346     Zynex Inc.*   3,169  
        Total Healthcare-Products   25,490,333  
Healthcare-Services - 1.9%  
  4,795     23andMe Holding Co., Class A Shares*   4,126  
  379     Acadia Healthcare Co., Inc.*   27,663  
  1,222     Accolade Inc.*   10,668  
  278     Addus HomeCare Corp.*   24,242  
  548     Agiliti Inc.*   4,417  
  1,232     agilon health Inc.*   13,084  
  32,257     Amedisys Inc.*   3,018,610  
  4,438     American Well Corp., Class A Shares*   5,636  
  761     Apollo Medical Holdings Inc.*   25,288  
  870     Aveanna Healthcare Holdings Inc.*   2,375  
  3,359     Brookdale Senior Living Inc.*   17,803  
  1,390     CareMax Inc.*   945  
  758     Catalent Inc.*   29,448  
  213     Charles River Laboratories International Inc.*   41,978  
  62     Chemed Corp.   35,154  
  2,329     Community Health Systems Inc.*   5,986  
  229     DaVita Inc.*   23,234  
  1,431     DocGo Inc.*   8,085  
  64,853     Encompass Health Corp.   4,226,470  
  913     Enhabit Inc.*   9,733  
  957     Ensign Group Inc.   102,466  
  383     Fortrea Holdings Inc.*   11,276  
  372     Fulgent Genetics Inc.*   10,260  
  6,623     Ginkgo Bioworks Holdings Inc.*   8,544  
  1,474     HealthEquity Inc.*   98,787  
  13,500     Humana Inc.   6,545,610  
  341     ICON PLC*   91,027  
  4,838     Invitae Corp.*   2,459  
  770     IQVIA Holdings Inc.*   164,857  
  371     Laboratory Corp. of America Holdings   80,474  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
CONSUMER NON-CYCLICAL - 22.6% - (continued)  
Healthcare-Services - 1.9% - (continued)  
  1,913     LifeStance Health Group Inc.*   $ 13,142  
  99     Medpace Holdings Inc.*   26,801  
  235     ModivCare Inc.*   8,874  
  242     Molina Healthcare Inc.*   88,466  
  891     Nano-X Imaging Ltd.*   5,970  
  224     National HealthCare Corp.   17,152  
  7,298     OPKO Health Inc.*   10,655  
  2,771     Oscar Health Inc., Class A Shares*   23,554  
  1,501     Pediatrix Medical Group Inc.*   12,578  
  533     Pennant Group Inc.*   7,313  
  470     Quest Diagnostics Inc.   64,498  
  739     Quipt Home Medical Corp.*   3,473  
  1,054     RadNet Inc.*   35,024  
  1,832     Select Medical Holdings Corp.   41,403  
  438     Sotera Health Co.*   5,979  
  1,193     Surgery Partners Inc.*   39,071  
  700     Teladoc Health Inc.*   12,698  
  426     Tenet Healthcare Corp.*   29,398  
  256     Universal Health Services Inc., Class B Shares   35,195  
  260     US Physical Therapy Inc.   22,108  
  622     Viemed Healthcare Inc.*   4,833  
        Total Healthcare-Services   15,158,890  
Household Products/Wares - 0.8%  
  1,686     ACCO Brands Corp.   9,071  
  22,839     Avery Dennison Corp.   4,442,185  
  180     Central Garden & Pet Co.*   7,304  
  698     Central Garden & Pet Co., Class A Shares*   25,323  
  1,022     Church & Dwight Co., Inc.   98,756  
  11,918     Clorox Co.   1,708,445  
  424     Helen of Troy Ltd.*   44,533  
  591     Quanex Building Products Corp.   18,197  
  242     Reynolds Consumer Products Inc.   6,350  
  172     Spectrum Brands Holdings Inc.   11,925  
  239     WD-40 Co.   57,809  
        Total Household Products/Wares   6,429,898  
Pharmaceuticals - 2.2%  
  619     ACELYRIN Inc.*   4,160  
  1,273     Aclaris Therapeutics Inc.*   1,113  
  1,715     AdaptHealth Corp., Class A Shares*   14,543  
  986     Agios Pharmaceuticals Inc.*   21,919  
  1,171     Alector Inc.*   6,347  
  2,912     Alkermes PLC*   70,296  
  2,220     Amneal Pharmaceuticals Inc.*   9,568  
  672     Amphastar Pharmaceuticals Inc.*   37,847  
  908     Amylyx Pharmaceuticals Inc.*   12,857  
  265     Anika Therapeutics Inc.*   5,806  
  878     Arvinas Inc.*   19,290  
  1,620     Assertio Holdings Inc.*   1,652  
  13,033     BellRing Brands Inc.*   689,446  
  1,067     Cardinal Health Inc.   114,254  
  1,787     Catalyst Pharmaceuticals Inc.*   25,786  
  676     Cencora Inc.   137,478  
  1,851     Coherus Biosciences Inc.*   3,943  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
CONSUMER NON-CYCLICAL - 22.6% - (continued)  
Pharmaceuticals - 2.2% - (continued)  
  623     Collegium Pharmaceutical Inc.*   $ 15,967  
  1,416     Corcept Therapeutics Inc.*   36,066  
  959     CorMedix Inc.*   3,117  
  1,616     DexCom Inc.*   186,680  
  236     Eagle Pharmaceuticals Inc.*   1,381  
  2,077     Elanco Animal Health Inc.*   24,467  
  365     Enanta Pharmaceuticals Inc.*   3,409  
  436     Enliven Therapeutics Inc.*   4,909  
  411     Fennec Pharmaceuticals Inc.*   3,535  
  1,615     Gritstone bio Inc.*   2,100  
  588     Harmony Biosciences Holdings Inc.*   17,087  
  540     Harrow Inc.*   4,984  
  548     Henry Schein Inc.*   36,568  
  1,755     Herbalife Ltd.*   22,604  
  414     Immuneering Corp., Class A Shares*   2,716  
  53,078     Ironwood Pharmaceuticals Inc., Class A Shares*   525,472  
  257     Jazz Pharmaceuticals PLC*   30,385  
  66,532     KalVista Pharmaceuticals Inc.*   561,530  
  1,278     Kura Oncology Inc.*   12,358  
  3,150     Lyell Immunopharma Inc.*   5,450  
  241     Madrigal Pharmaceuticals Inc.*   48,995  
  4,582     MannKind Corp.*   16,587  
  937     Marinus Pharmaceuticals Inc.*   6,306  
  84,181     Merus NV*   2,082,638  
  445     Mirum Pharmaceuticals Inc.*   14,271  
  16,541     Morphic Holding Inc.*   392,022  
  241     Nature's Sunshine Products Inc.*   4,128  
  406     Neurocrine Biosciences Inc.*   47,336  
  1,419     Ocular Therapeutix Inc.*   3,519  
  2,984     Option Care Health Inc.*   88,774  
  1,087     Organon & Co.   12,305  
  712     ORIC Pharmaceuticals Inc.*   5,625  
  1,321     Owens & Minor Inc.*   26,261  
  809     Pacira BioSciences Inc.*   22,070  
  574     Perrigo Co. PLC   17,484  
  83,635     PetIQ Inc., Class A Shares*   1,456,922  
  371     Phibro Animal Health Corp., Class A Shares   3,558  
  702     PMV Pharmaceuticals Inc.*   1,608  
  512     Premier Inc., Class A Shares   10,542  
  81,882     Prestige Consumer Healthcare Inc.*   4,695,933  
  1,021     Protagonist Therapeutics Inc.*   18,592  
  1,492     Revance Therapeutics Inc.*   10,101  
  54,817     Rhythm Pharmaceuticals Inc.*   1,832,532  
  530     scPharmaceuticals Inc.*   2,883  
  1,780     Seres Therapeutics Inc.*   1,851  
  837     SIGA Technologies Inc.   4,545  
  2,119     Summit Therapeutics Inc.*   4,302  
  873     Supernus Pharmaceuticals Inc.*   23,789  
  148     Taro Pharmaceutical Industries Ltd.*   5,328  
  205     USANA Health Sciences Inc.*   9,688  
  1,028     Vanda Pharmaceuticals Inc.*   3,824  
  56,786     Vaxcyte Inc.*   2,939,811  
  5,023     Viatris Inc.   46,111  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
CONSUMER NON-CYCLICAL - 22.6% - (continued)  
Pharmaceuticals - 2.2% - (continued)  
  579     Voyager Therapeutics Inc.*   $ 4,204  
  2,427     Xeris Biopharma Holdings Inc.*   4,514  
  675     Y-mAbs Therapeutics Inc.*   4,192  
        Total Pharmaceuticals   16,550,241  
        TOTAL CONSUMER NON-CYCLICAL   177,728,055  
ENERGY - 4.0%  
Coal - 0.0%  
  220     Alpha Metallurgical Resources Inc.   61,723  
  322     Arch Resources Inc.   53,439  
  588     CONSOL Energy Inc.   62,722  
  427     Hallador Energy Co.*   5,393  
  74     NACCO Industries Inc., Class A Shares   2,562  
  2,193     Peabody Energy Corp.   52,281  
  411     Ramaco Resources Inc., Class A Shares   6,864  
  1,500     SunCoke Energy Inc.   13,965  
  912     Warrior Met Coal Inc.   51,045  
        Total Coal   309,994  
Energy-Alternate Sources - 0.0%  
  2,665     Array Technologies Inc.*   41,228  
  1,790     Energy Vault Holdings Inc.*   4,117  
  448     Eneti Inc.   4,861  
  558     Enphase Energy Inc.*   56,369  
  570     Enviva Inc.   695  
  1,957     Eos Energy Enterprises Inc.*   2,153  
  446     First Solar Inc.*   70,370  
  705     Fluence Energy Inc., Class A Shares*   17,681  
  7,479     FuelCell Energy Inc.*   9,124  
  480     FutureFuel Corp.   2,851  
  4,241     Gevo Inc.*   4,792  
  1,030     Green Plains Inc.*   25,626  
  550     Maxeon Solar Technologies Ltd.*   2,271  
  1,207     Montauk Renewables Inc.*   11,153  
  2,247     Plug Power Inc.*   9,078  
  281     REX American Resources Corp.*   13,775  
  3,019     Shoals Technologies Group Inc., Class A Shares*   41,813  
  2,589     Stem Inc.*   7,430  
  1,805     Sunnova Energy International Inc.*   20,938  
  1,595     SunPower Corp., Class A Shares*   6,619  
  914     Sunrun Inc.*   11,791  
        Total Energy-Alternate Sources   364,735  
Oil & Gas - 2.8%  
  658     Amplify Energy Corp.*   4,040  
  1,194     Antero Resources Corp.*   28,214  
  1,303     APA Corp.   46,908  
  1,383     Berry Corp.   9,930  
  3,898     Borr Drilling Ltd.*   24,557  
  1,262     California Resources Corp.   64,627  
  1,081     Callon Petroleum Co.*   33,803  
  75,433     Chesapeake Energy Corp.   6,058,024  
  734     Chord Energy Corp.   119,011  
  48,599     Civitas Resources Inc.   3,338,265  
  2,800     CNX Resources Corp.*   58,408  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
ENERGY - 4.0% - (continued)  
Oil & Gas - 2.8% - (continued)  
  1,643     Comstock Resources Inc.   $ 16,216  
  3,126     Coterra Energy Inc.   82,057  
  701     Crescent Energy Co., Class A Shares   7,991  
  530     CVR Energy Inc.   16,838  
  1,154     Delek US Holdings Inc.   31,320  
  2,680     Devon Energy Corp.   120,520  
  1,806     Diamond Offshore Drilling Inc.*   23,243  
  758     Diamondback Energy Inc.   117,043  
  1,512     EQT Corp.   60,420  
  568     Evolution Petroleum Corp.   3,368  
  591     Granite Ridge Resources Inc.   3,493  
  195     Gulfport Energy Corp.*   26,723  
  1,711     Helmerich & Payne Inc.   61,990  
  1,161     Hess Corp.   163,190  
  595     HF Sinclair Corp.   31,226  
  221     HighPeak Energy Inc.   3,399  
  8,029     Kosmos Energy Ltd.*   54,517  
  3,222     Magnolia Oil & Gas Corp., Class A Shares   69,273  
  2,605     Marathon Oil Corp.   66,245  
  1,987     Matador Resources Co.   115,008  
  2,606     Murphy Oil Corp.   111,459  
  163     Nabors Industries Ltd.*   14,152  
  4,432     Noble Corp. PLC   204,492  
  1,441     Northern Oil & Gas Inc.   53,922  
  110,178     Ovintiv Inc.   4,885,293  
  977     Par Pacific Holdings Inc.*   33,482  
  6,209     Patterson-UTI Energy Inc.   72,707  
  1,997     PBF Energy Inc., Class A Shares   88,667  
  318,732     Permian Resources Corp., Class A Shares   4,188,138  
  1,924     Phillips 66   247,984  
  988     Range Resources Corp.   32,110  
  160     Riley Exploration Permian Inc.   3,952  
  2,186     Ring Energy Inc.*   3,607  
  583     SandRidge Energy Inc.   8,051  
  892     Seadrill Ltd.*   39,587  
  320     SilverBow Resources Inc.*   10,179  
  1,427     Sitio Royalties Corp., Class A Shares   31,437  
  2,108     SM Energy Co.   78,945  
  4,633     Southwestern Energy Co.*   30,531  
  1,950     Talos Energy Inc.*   27,144  
  9,681     Tellurian Inc.*   5,896  
  24     Texas Pacific Land Corp.   40,127  
  1,976     VAALCO Energy Inc.   9,188  
  1,078     Valaris Ltd.*   73,951  
  1,183     Vertex Energy Inc.*   3,999  
  303     Vital Energy Inc.*   13,587  
  455     Vitesse Energy Inc.   10,752  
  1,811     W&T Offshore Inc.   6,049  
  3,531     Weatherford International PLC*   320,226  
        Total Oil & Gas   21,509,481  
Oil & Gas Services - 1.1%  
  2,461     Archrock Inc.   35,660  
  540     Aris Water Solutions Inc., Class A Shares   4,363  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
ENERGY - 4.0% - (continued)  
Oil & Gas Services - 1.1% - (continued)  
  292     Atlas Energy Solutions Inc.   $ 4,982  
  4,234     Baker Hughes Co., Class A Shares   142,897  
  427     Bristow Group Inc.*   10,995  
  103,083     ChampionX Corp.   3,022,394  
  836     Core Laboratories Inc.   14,806  
  357     DMC Global Inc.*   5,694  
  609     Dril-Quip Inc.*   13,532  
  1,559     Expro Group Holdings NV*   24,242  
  176     Forum Energy Technologies Inc.*   3,832  
  3,754     Halliburton Co.   139,011  
  2,551     Helix Energy Solutions Group Inc.*   23,775  
  278     Kodiak Gas Services Inc.   4,901  
  71,323     Liberty Energy Inc., Class A Shares   1,415,762  
  1,365     Newpark Resources Inc.*   9,487  
  1,653     NOV Inc.   31,109  
  1,895     NOW Inc.*   18,893  
  42,646     Oceaneering International Inc.*   881,066  
  1,150     Oil States International Inc.*   7,923  
  471     ProFrac Holding Corp., Class A Shares*   3,796  
  1,762     ProPetro Holding Corp.*   16,052  
  272     Ranger Energy Services Inc., Class A Shares   2,652  
  1,532     RPC Inc.   11,107  
  450     SEACOR Marine Holdings Inc.*   5,197  
  1,470     Select Water Solutions Inc., Class A Shares   10,966  
  576     Solaris Oilfield Infrastructure Inc., Class A Shares   4,931  
  23,445     TechnipFMC PLC   485,780  
  2,254     TETRA Technologies Inc.*   10,639  
  38,633     Tidewater Inc.*   2,321,071  
  1,346     US Silica Holdings Inc.*   15,183  
        Total Oil & Gas Services   8,702,698  
Pipelines - 0.1%  
  1,446     Antero Midstream Corp.   19,261  
  1,013     Cheniere Energy Inc.   184,518  
  412     DT Midstream Inc.   23,603  
  7,676     Equitrans Midstream Corp.   72,001  
  327     Excelerate Energy Inc., Class A Shares   5,467  
  1,787     Golar LNG Ltd.   38,474  
  312     Kinetik Holdings Inc., Class A Shares   11,344  
  282     New Fortress Energy Inc., Class A Shares   10,851  
  539     NextDecade Corp.*   2,690  
  1,869     ONEOK Inc.   128,681  
  936     Targa Resources Corp.   84,661  
  5,088     Williams Cos., Inc.   187,188  
        Total Pipelines   768,739  
        TOTAL ENERGY   31,655,647  
FINANCIAL - 21.9%  
Banks - 6.9%  
  301     1st Source Corp.   14,547  
  151     ACNB Corp.   5,901  
  340     Alerus Financial Corp.   6,212  
  319     Amalgamated Financial Corp.   6,699  
  473     Amerant Bancorp Inc., Class A Shares   9,796  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
FINANCIAL - 21.9% - (continued)  
Banks - 6.9% - (continued)  
  190     American National Bankshares Inc.   $ 7,723  
  1,167     Ameris Bancorp   49,691  
  151     Ames National Corp.   2,790  
  268     Arrow Financial Corp.   6,606  
  2,669     Associated Banc-Corp.   47,348  
  1,326     Atlantic Union Bankshares Corp.   40,536  
  390     BancFirst Corp.   33,786  
  64,695     Bancorp Inc.*   2,523,752  
  168     Bank First Corp.   13,568  
  693     Bank of Hawaii Corp.   40,243  
  285     Bank of Marin Bancorp   5,481  
  3,260     Bank of New York Mellon Corp.   157,523  
  890     Bank of NT Butterfield & Son Ltd.   24,680  
  461     Bank OZK   19,297  
  1,318     BankUnited Inc.   36,364  
  135     Bankwell Financial Group Inc.   3,640  
  608     Banner Corp.   27,445  
  277     Bar Harbor Bankshares   7,194  
  214     BayCom Corp.   4,473  
  279     BCB Bancorp Inc.   3,231  
  433     Blue Foundry Bancorp*   3,767  
  123     BOK Financial Corp.   8,828  
  375     Bridgewater Bancshares Inc.*   3,889  
  116     Burke & Herbert Financial Services Corp.   5,517  
  440     Business First Bancshares Inc.   8,901  
  453     Byline Bancorp Inc.   9,055  
  60     C&F Financial Corp.   3,500  
  3,204     Cadence Bank   80,260  
  139     Cambridge Bancorp   8,122  
  263     Camden National Corp.   8,876  
  178     Capital Bancorp Inc.   3,768  
  244     Capital City Bank Group Inc.   6,525  
  350     Capstar Financial Holdings Inc.   5,750  
  427     Carter Bankshares Inc.*   5,350  
  1,226     Cathay General Bancorp   44,970  
  488     Central Pacific Financial Corp.   8,574  
  176     Central Valley Community Bancorp   3,029  
  62     Chemung Financial Corp.   2,864  
  155     ChoiceOne Financial Services Inc.   3,877  
  271     Citizens & Northern Corp.   5,450  
  1,988     Citizens Financial Group Inc.   54,213  
  70     Citizens Financial Services Inc.   3,986  
  18,004     City Holding Co.   1,733,245  
  281     Civista Bancshares Inc.   4,398  
  384     CNB Financial Corp.   7,811  
  198     Coastal Financial Corp.*   7,736  
  172     Codorus Valley Bancorp Inc.   3,476  
  305     Colony Bankcorp Inc.   3,273  
  186,766     Columbia Banking System Inc.   4,189,161  
  558     Comerica Inc.   25,233  
  484     Commerce Bancshares Inc.   24,476  
  940     Community Bank System Inc.   41,698  
  283     Community Trust Bancorp Inc.   11,261  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
FINANCIAL - 21.9% - (continued)  
Banks - 6.9% - (continued)  
  670     ConnectOne Bancorp Inc.   $ 13,172  
  818     CrossFirst Bankshares Inc.*   9,178  
  251     Cullen/Frost Bankers Inc.   24,671  
  48,654     Customers Bancorp Inc.*   2,192,836  
  2,350     CVB Financial Corp.   42,018  
  631     Dime Community Bancshares Inc.   12,683  
  533     Eagle Bancorp Inc.   12,653  
  593     East West Bancorp Inc.   37,312  
  2,740     Eastern Bankshares Inc.   32,770  
  174     Enterprise Bancorp Inc.   4,703  
  645     Enterprise Financial Services Corp.   25,290  
  272     Equity Bancshares Inc., Class A Shares   6,863  
  129     Esquire Financial Holdings Inc.   6,008  
  92     Evans Bancorp Inc.   2,519  
  232     Farmers & Merchants Bancorp Inc.   4,524  
  670     Farmers National Banc Corp.   8,248  
  634     FB Financial Corp.   21,277  
  85     Fidelity D&D Bancorp Inc.   4,406  
  2,845     Fifth Third Bancorp   82,363  
  276     Financial Institutions Inc.   4,791  
  710     First Bancorp (Southern Pines NC)   22,251  
  3,127     First BanCorp (Puerto Rico)   46,905  
  178     First Bancorp Inc.   4,448  
  551     First Bancshares Inc.   14,133  
  380     First Bank   4,632  
  928     First Busey Corp.   20,138  
  143     First Business Financial Services Inc.   5,002  
  4,746     First Citizens BancShares Inc., Class A Shares   6,966,606  
  1,821     First Commonwealth Financial Corp.   24,347  
  321     First Community Bankshares Inc.   10,484  
  1,666     First Financial Bancorp   33,670  
  2,294     First Financial Bankshares Inc.   60,217  
  217     First Financial Corp.   8,300  
  925     First Foundation Inc.   5,439  
  552     First Hawaiian Inc.   10,847  
  256,616     First Horizon Corp.   3,282,119  
  132,717     First Interstate BancSystem Inc., Class A Shares   3,436,043  
  1,047     First Merchants Corp.   32,111  
  349     First Mid Bancshares Inc.   10,816  
  388     First of Long Island Corp.   4,415  
  232     Five Star Bancorp   5,301  
  1,526     FNB Corp.   18,297  
  2,876     Fulton Financial Corp.   40,925  
  295     FVCBankcorp Inc.*   3,292  
  505     German American Bancorp Inc.   14,554  
  1,963     Glacier Bancorp Inc.   66,016  
  166     Great Southern Bancorp Inc.   8,434  
  152     Guaranty Bancshares Inc.   4,543  
  1,528     Hancock Whitney Corp.   63,030  
  556     Hanmi Financial Corp.   9,252  
  775     HarborOne Bancorp Inc.   8,548  
  244     HBT Financial Inc.   4,575  
  752     Heartland Financial USA Inc.   23,259  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
FINANCIAL - 21.9% - (continued)  
Banks - 6.9% - (continued)  
  1,082     Heritage Commerce Corp.   $ 9,186  
  630     Heritage Financial Corp.   11,227  
  830     Hilltop Holdings Inc.   24,443  
  3,353     Home BancShares Inc.   74,370  
  2,062     Hope Bancorp Inc.   20,208  
  791     Horizon Bancorp Inc.   8,614  
  6,033     Huntington Bancshares Inc.   67,932  
  53,471     Independent Bank Corp.   3,035,677  
  642     Independent Bank Group Inc.   24,833  
  948     International Bancshares Corp.   42,537  
  227     John Marshall Bancorp Inc.   4,483  
  1,047     Kearny Financial Corp.   8,271  
  3,919     KeyCorp   48,556  
  1,121     Lakeland Bancorp Inc.   13,889  
  442     Lakeland Financial Corp.   24,553  
  242     LCNB Corp.   3,524  
  602     Live Oak Bancshares Inc.   20,227  
  693     M&T Bank Corp.   88,822  
  479     Macatawa Bank Corp.   4,651  
  122     MainStreet Bancshares Inc.   2,540  
  287     Mercantile Bank Corp.   9,870  
  291     Merchants Bancorp   9,792  
  477     Meta Financial Group Inc.   23,654  
  339     Metrocity Bankshares Inc.   6,773  
  194     Metropolitan Bank Holding Corp.*   7,560  
  257     Mid Penn Bancorp Inc.   5,171  
  144     Middlefield Banc Corp.   4,082  
  391     Midland States Bancorp Inc.   8,829  
  257     MidWestOne Financial Group Inc.   5,412  
  206     MVB Financial Corp.   4,118  
  45,394     National Bank Holdings Corp., Class A Shares   1,498,456  
  102     National Bankshares Inc.   2,758  
  813     NBT Bancorp Inc.   28,886  
  440     NewtekOne Inc.   5,953  
  231     Nicolet Bankshares Inc.   17,015  
  120     Northeast Bank   6,152  
  245     Northeast Community Bancorp Inc.   4,109  
  859     Northern Trust Corp.   68,076  
  101     Northrim BanCorp Inc.   4,986  
  135     Norwood Financial Corp.   3,741  
  9,668     NU Holdings Ltd., Class A Shares*   78,698  
  124     Oak Valley Bancorp   3,238  
  828     OFG Bancorp   27,788  
  228,000     Old National Bancorp   3,394,920  
  787     Old Second Bancorp Inc.   11,089  
  93     Orange County Bancorp Inc.   4,446  
  524     Origin Bancorp Inc.   16,647  
  187     Orrstown Financial Services Inc.   4,475  
  2,108     PacWest Bancorp   15,894  
  255     Park National Corp.   28,305  
  193     Parke Bancorp Inc.   3,486  
  202     PCB Bancorp   3,131  
  313     Peapack-Gladstone Financial Corp.   7,775  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
FINANCIAL - 21.9% - (continued)  
Banks - 6.9% - (continued)  
  157     Penns Woods Bancorp Inc.   $ 3,204  
  607     Peoples Bancorp Inc.   17,864  
  126     Peoples Financial Services Corp.   5,352  
  48,203     Pinnacle Financial Partners Inc.   3,498,092  
  100     Plumas Bancorp   3,359  
  359     Ponce Financial Group Inc.*   3,202  
  299     Popular Inc.   22,063  
  240     Preferred Bank   14,791  
  641     Premier Financial Corp.   12,801  
  355     Primis Financial Corp.   3,554  
  116     Princeton Bancorp Inc.   3,825  
  370     Prosperity Bancshares Inc.   22,315  
  296     QCR Holdings Inc.   14,705  
  307     RBB Bancorp   4,691  
  88     Red River Bancshares Inc.   4,469  
  3,919     Regions Financial Corp.   65,369  
  980     Renasant Corp.   26,695  
  159     Republic Bancorp Inc., Class A Shares   7,465  
  694     S&T Bancorp Inc.   19,425  
  785     Sandy Spring Bancorp Inc.   17,286  
  1,490     Seacoast Banking Corp. of Florida   34,628  
  898     ServisFirst Bancshares Inc.   45,942  
  538     Shore Bancshares Inc.   6,424  
  251     Sierra Bancorp   4,704  
  2,230     Simmons First National Corp., Class A Shares   35,658  
  295     SmartFinancial Inc.   6,304  
  225     South Plains Financial Inc.   5,850  
  141     Southern First Bancshares Inc.*   4,143  
  138     Southern States Bancshares Inc.   3,467  
  528     Southside Bancshares Inc.   14,483  
  1,337     SouthState Corp.   99,005  
  1,332     State Street Corp.   96,996  
  869     Stellar Bancorp Inc.   20,734  
  484     Stock Yards Bancorp Inc.   21,354  
  203     Summit Financial Group Inc.   4,744  
  617     Synovus Financial Corp.   18,997  
  844     Texas Capital Bancshares Inc.*   46,319  
  235     Third Coast Bancshares Inc.*   3,983  
  250     Tompkins Financial Corp.   13,242  
  1,244     Towne Bank   32,667  
  555     TriCo Bancshares   19,103  
  24,786     Triumph Financial Inc.*   1,682,226  
  339     TrustCo Bank Corp. NY   9,099  
  1,082     Trustmark Corp.   24,789  
  780     UMB Financial Corp.   55,895  
  2,302     United Bankshares Inc.   76,219  
  2,036     United Community Banks Inc.   50,187  
  133     Unity Bancorp Inc.   3,648  
  81,427     Univest Financial Corp.   1,538,156  
  110,400     US Bancorp   4,208,448  
  387,112     Valley National Bancorp   3,522,719  
  939     Veritex Holdings Inc.   17,972  
  106     Virginia National Bankshares Corp.   3,735  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
FINANCIAL - 21.9% - (continued)  
Banks - 6.9% - (continued)  
  561     Walker & Dunlop Inc.   $ 47,135  
  311     Washington Trust Bancorp Inc.   8,316  
  733     Webster Financial Corp.   32,875  
  1,024     WesBanco Inc.   27,259  
  294     West BanCorp Inc.   5,207  
  461     Westamerica BanCorp   23,377  
  2,782     Western Alliance Bancorp   142,494  
  55,472     Wintrust Financial Corp.   4,752,286  
  618     Zions Bancorp N.A.   22,019  
        Total Banks   55,687,762  
Diversified Financial Services - 2.7%  
  151     Affiliated Managers Group Inc.   20,468  
  441     Air Lease Corp., Class A Shares   17,106  
  1,142     Ally Financial Inc.   33,369  
  370     AlTi Global Inc.*   2,801  
  439     Ameriprise Financial Inc.   155,191  
  2,179     Apollo Global Management Inc.   200,468  
  1,084     Artisan Partners Asset Management Inc., Class A Shares   40,813  
  399     AssetMark Financial Holdings Inc.*   10,230  
  81     Atlanticus Holdings Corp.*   2,500  
  337     B Riley Financial Inc.   6,201  
  5,565     BGC Group Inc., Class A Shares   36,172  
  1,268     Bit Digital Inc.*   3,271  
  1,892     Blue Owl Capital Inc., Class A Shares   25,504  
  894     Bread Financial Holdings Inc.   25,121  
  589     Brightsphere Investment Group Inc.   10,278  
  476     Brookfield Business Corp., Class A Shares   8,663  
  45,000     Capital One Financial Corp.   5,024,700  
  441     Cboe Global Markets Inc.   80,346  
  461     Cohen & Steers Inc.   26,964  
  700     Coinbase Global Inc., Class A Shares*   87,304  
  544     Columbia Financial Inc.*   8,949  
  28     Credit Acceptance Corp.*   12,796  
  52     Diamond Hill Investment Group Inc.   8,351  
  1,044     Discover Financial Services   97,092  
  538     Enact Holdings Inc.   14,908  
  414     Encore Capital Group Inc.*   18,547  
  539     Enova International Inc.*   22,207  
  2,054     Evercore Inc., Class A Shares   303,068  
  162     Federal Agricultural Mortgage Corp., Class C Shares   26,866  
  141     First Western Financial Inc.*   2,341  
  2,012     Forge Global Holdings Inc.*   6,640  
  1,202     Franklin Resources Inc.   29,810  
  101,994     FTAI Aviation Ltd.   4,203,173  
  776     GCM Grosvenor Inc., Class A Shares   6,262  
  643     Hamilton Lane Inc., Class A Shares   62,918  
  1,828     Hannon Armstrong Sustainable Infrastructure Capital Inc., REIT   44,256  
  214     Houlihan Lokey Inc., Class A Shares   23,052  
  426     Interactive Brokers Group Inc., Class A Shares   33,160  
  598     International Money Express Inc.*   12,468  
  1,540     Invesco Ltd.   21,976  
  573     Janus Henderson Group PLC   15,007  
  111,603     Jefferies Financial Group Inc.   3,955,210  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
FINANCIAL - 21.9% - (continued)  
Diversified Financial Services - 2.7% - (continued)  
  469     Lazard Ltd., Class A Shares   $ 14,061  
  1,924     LendingClub Corp.*   12,121  
  235     LendingTree Inc.*   4,159  
  327     LPL Financial Holdings Inc.   72,692  
  1,176     Moelis & Co., Class A Shares   55,801  
  1,151     Mr Cooper Group Inc.*   69,659  
  1,431     Nasdaq Inc.   79,907  
  1,578     Navient Corp.   27,031  
  259     Nelnet Inc., Class A Shares   21,730  
  641     NerdWallet Inc., Class A Shares*   7,532  
  113     Ocwen Financial Corp.*   2,919  
  477     OneMain Holdings Inc., Class A Shares   20,177  
  3,515     Pagseguro Digital Ltd., Class A Shares*   35,431  
  452     PennyMac Financial Services Inc.   35,161  
  773     Perella Weinberg Partners, Class A Shares   9,060  
  306     Piper Sandler Cos   47,347  
  24,567     PJT Partners Inc., Class A Shares   2,212,504  
  695     PRA Group Inc.*   12,878  
  2,766     Radian Group Inc.   71,114  
  27,192     Raymond James Financial Inc.   2,859,239  
  143     Regional Management Corp.   3,163  
  544     Rocket Cos. Inc., Class A Shares*   5,081  
  430     SEI Investments Co.   25,228  
  167     Silvercrest Asset Management Group Inc., Class A Shares   2,602  
  966     SLM Corp.   14,519  
  3,871     SoFi Technologies Inc.*   28,220  
  955     StepStone Group Inc., Class A Shares   24,467  
  434     Stifel Financial Corp.   26,483  
  474     StoneX Group Inc.*   28,976  
  1,748     Synchrony Financial   56,565  
  923     T Rowe Price Group Inc.   92,420  
  280     TPG Inc., Class A Shares   9,800  
  483     Tradeweb Markets Inc., Class A Shares   46,803  
  1,273     Upstart Holdings Inc.*   34,065  
  488     Victory Capital Holdings Inc., Class A Shares   15,689  
  394     Virtu Financial Inc., Class A Shares   7,084  
  123     Virtus Investment Partners Inc.   24,061  
  414     Voya Financial Inc.   29,605  
  1,588     Western Union Co.   18,468  
  2,467     WisdomTree Inc.   16,060  
  74     World Acceptance Corp.*   8,247  
  1,401     XP Inc., Class A Shares   32,629  
        Total Diversified Financial Services   20,967,285  
Equity Real Estate Investment Trusts (REITs) - 5.2%  
  1,661     Acadia Realty Trust   25,114  
  301     AFC Gamma Inc.   3,416  
  2,517     AGNC Investment Corp.   22,200  
  390     Agree Realty Corp.   23,092  
  1,291     Alexander & Baldwin Inc.   21,624  
  40     Alexander's Inc.   7,358  
  34,619     Alexandria Real Estate Equities Inc.   3,787,319  
  238     Alpine Income Property Trust Inc.   3,887  
  873     American Assets Trust Inc.   17,582  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
FINANCIAL - 21.9% - (continued)  
Equity Real Estate Investment Trusts (REITs) - 5.2% - (continued)  
  101,799     American Homes 4 Rent, Class A Shares   $ 3,692,250  
  149,838     Americold Realty Trust Inc.   4,229,927  
  2,078     Annaly Capital Management Inc.   37,549  
  633     Apartment Income REIT Corp.   19,699  
  2,650     Apartment Investment & Management Co., Class A Shares*   18,258  
  2,521     Apollo Commercial Real Estate Finance Inc.   27,176  
  3,794     Apple Hospitality REIT Inc.   63,246  
  3,210     Arbor Realty Trust Inc.   40,061  
  950     Ares Commercial Real Estate Corp.   9,547  
  1,215     Armada Hoffler Properties Inc.   13,341  
  820     ARMOUR Residential REIT Inc.   14,432  
  593     AvalonBay Communities Inc.   102,553  
  3,030     Blackstone Mortgage Trust Inc., Class A Shares   67,205  
  660     Boston Properties Inc.   37,574  
  1,207     Braemar Hotels & Resorts Inc.   2,535  
  3,062     Brandywine Realty Trust   13,657  
  2,316     BrightSpire Capital Inc., Class A Shares   15,726  
  1,266     Brixmor Property Group Inc.   27,244  
  3,313     Broadstone Net Lease Inc., Class A Shares   53,008  
  219     BRT Apartments Corp.   3,986  
  436     Camden Property Trust   39,353  
  1,770     CareTrust REIT Inc.   40,852  
  489     CBL & Associates Properties Inc.   11,491  
  271     Centerspace   14,455  
  883     Chatham Lodging Trust   8,751  
  355,608     Chimera Investment Corp.   1,852,718  
  884     City Office REIT Inc.   4,270  
  1,621     Claros Mortgage Trust Inc.   19,792  
  459     Community Healthcare Trust Inc.   12,439  
  118,324     COPT Defense Properties   2,863,441  
  650     Cousins Properties Inc.   13,338  
  408     CTO Realty Growth Inc.   6,895  
  942     CubeSmart   37,454  
  3,723     DiamondRock Hospitality Co.   30,975  
  1,248     Digital Realty Trust Inc.   173,197  
  4,381     Diversified Healthcare Trust   10,252  
  2,902     Douglas Emmett Inc.   35,462  
  977     Dynex Capital Inc.   11,177  
  1,678     Easterly Government Properties Inc., Class A Shares   19,565  
  185     EastGroup Properties Inc.   32,144  
  1,173     Ellington Financial Inc.   15,249  
  1,565     Elme Communities   20,564  
  2,358     Empire State Realty Trust Inc., Class A Shares   21,128  
  319     EPR Properties   14,234  
  1,855     Equity Commonwealth   34,855  
  746     Equity LifeStyle Properties Inc.   53,041  
  1,561     Equity Residential   88,727  
  2,744     Essential Properties Realty Trust Inc.   65,170  
  268     Essex Property Trust Inc.   57,207  
  32,675     Extra Space Storage Inc.   4,253,305  
  878     Farmland Partners Inc.   10,870  
  341     Federal Realty Investment Trust   32,596  
  558     First Industrial Realty Trust Inc.   26,254  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
FINANCIAL - 21.9% - (continued)  
Equity Real Estate Investment Trusts (REITs) - 5.2% - (continued)  
  1,532     Four Corners Property Trust Inc.   $ 35,221  
  1,482     Franklin BSP Realty Trust Inc.   19,385  
  1,057     Gaming & Leisure Properties Inc.   49,394  
  798     Getty Realty Corp.   23,485  
  735     Gladstone Commercial Corp.   9,187  
  614     Gladstone Land Corp.   8,811  
  1,110     Global Medical REIT Inc.   11,133  
  3,444     Global Net Lease Inc.   30,238  
  931     Granite Point Mortgage Trust Inc.   5,120  
  1,608     Healthcare Realty Trust Inc., Class A Shares   24,554  
  2,302     Healthpeak Properties Inc.   39,871  
  453     Highwoods Properties Inc.   8,584  
  2,970     Host Hotels & Resorts Inc.   51,886  
  2,476     Hudson Pacific Properties Inc.   14,534  
  3,972     Independence Realty Trust Inc.   54,099  
  493     Innovative Industrial Properties Inc., Class A Shares   40,258  
  1,205     InvenTrust Properties Corp.   29,065  
  773     Invesco Mortgage Capital Inc.   6,192  
  2,560     Invitation Homes Inc.   85,402  
  1,213     Iron Mountain Inc.   77,814  
  1,938     JBG SMITH Properties   26,589  
  498     Kilroy Realty Corp.   16,424  
  2,544     Kimco Realty Corp.   49,150  
  3,824     Kite Realty Group Trust   80,763  
  1,064     KKR Real Estate Finance Trust Inc.   13,364  
  2,018     Ladder Capital Corp., Class A Shares   22,622  
  367     Lamar Advertising Co., Class A Shares   37,173  
  729     LTC Properties Inc.   23,780  
  5,108     LXP Industrial Trust   44,848  
  3,813     Macerich Co.   43,735  
  2,547     Medical Properties Trust Inc.   12,353  
  1,829     MFA Financial Inc.   19,753  
  29,887     Mid-America Apartment Communities Inc.   3,720,334  
  737     National Health Investors Inc.   39,990  
  67,113     National Storage Affiliates Trust(a)   2,227,480  
  59     NET Lease Office Properties*   965  
  1,204     NETSTREIT Corp.   18,518  
  1,637     New York Mortgage Trust Inc.   14,389  
  407     NexPoint Residential Trust Inc.   12,393  
  767     NNN REIT Inc.   31,156  
  884     Office Properties Income Trust   4,933  
  988     Omega Healthcare Investors Inc.   31,369  
  294     One Liberty Properties Inc.   6,006  
  820     Orchid Island Capital Inc.   6,043  
  1,037     Orion Office REIT Inc.   5,351  
  3,320     Paramount Group Inc.   15,604  
  921     Park Hotels & Resorts Inc.   13,658  
  656     Peakstone Realty Trust   10,470  
  2,152     Pebblebrook Hotel Trust   27,438  
  1,576     PennyMac Mortgage Investment Trust   22,127  
  2,074     Phillips Edison & Co., Inc.   73,088  
  202,133     Physicians Realty Trust   2,360,913  
  2,229     Piedmont Office Realty Trust Inc., Class A Shares   13,864  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
FINANCIAL - 21.9% - (continued)  
Equity Real Estate Investment Trusts (REITs) - 5.2% - (continued)  
  769     Plymouth Industrial REIT Inc.   $ 16,726  
  341     Postal Realty Trust Inc., Class A Shares   4,774  
  1,391     PotlatchDeltic Corp.   63,763  
  626     Rayonier Inc.   19,206  
  2,838     Ready Capital Corp.   29,004  
  81,016     Realty Income Corp.   4,371,623  
  2,046     Redwood Trust Inc.   14,547  
  759     Regency Centers Corp.   47,650  
  2,184     Retail Opportunity Investments Corp.   28,108  
  866     Rexford Industrial Realty Inc.   42,625  
  2,049     Rithm Capital Corp.   21,269  
  2,776     RLJ Lodging Trust   29,675  
  1,540     RPT Realty   17,895  
  1,014     Ryman Hospitality Properties Inc.   101,755  
  4,074     Sabra Health Care REIT Inc.   59,480  
  788     Safehold Inc.   15,516  
  215     Saul Centers Inc.   7,944  
  450     SBA Communications Corp., Class A Shares   111,132  
  2,934     Service Properties Trust   20,978  
  1,356     Simon Property Group Inc.   169,351  
  3,363     SITE Centers Corp.   44,358  
  1,143     SL Green Realty Corp.   41,800  
  599     Spirit Realty Capital Inc.   24,739  
  108,762     STAG Industrial Inc.   3,899,118  
  1,248     Starwood Property Trust Inc.   24,798  
  1,898     Summit Hotel Properties Inc.   11,881  
  515     Sun Communities Inc.   66,610  
  3,682     Sunstone Hotel Investors Inc.   36,378  
  1,803     Tanger Inc.   45,003  
  1,436     Terreno Realty Corp.   82,010  
  1,268     TPG RE Finance Trust Inc.   7,494  
  1,731     Two Harbors Investment Corp.   23,992  
  1,378     UDR Inc.   46,025  
  1,002     UMH Properties Inc.   14,148  
  4,248     Uniti Group Inc.   23,491  
  234     Universal Health Realty Income Trust   9,330  
  2,034     Urban Edge Properties   34,070  
  1,674     Ventas Inc.   76,736  
  1,407     Veris Residential Inc.   20,387  
  4,198     VICI Properties Inc., Class A Shares   125,478  
  754     Vornado Realty Trust   17,749  
  2,163     Welltower Inc.   192,723  
  3,065     Weyerhaeuser Co.   96,088  
  892     Whitestone REIT, Class B Shares   9,776  
  891     WP Carey Inc.   55,456  
  1,953     Xenia Hotels & Resorts Inc.   23,846  
        Total Equity Real Estate Investment Trusts (REITs)   42,249,168  
Insurance - 5.6%  
  2,514     Aflac Inc.   207,933  
  43,197     Allstate Corp.   5,955,570  
  805     Ambac Financial Group Inc.*   11,874  
  450     American Coastal Insurance Corp.*   3,721  
  1,366     American Equity Investment Life Holding Co.*   75,349  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
FINANCIAL - 21.9% - (continued)  
Insurance - 5.6% - (continued)  
  307     American Financial Group Inc.   $ 35,118  
  341     AMERISAFE Inc.   16,423  
  1,496     Arch Capital Group Ltd.*   125,200  
  884     Arthur J Gallagher & Co.   220,116  
  223     Assurant Inc.   37,468  
  243     Assured Guaranty Ltd.   16,502  
  331     Axis Capital Holdings Ltd.   18,649  
  286     Brighthouse Financial Inc.*   14,881  
  994     Brown & Brown Inc.   74,292  
  1,069     BRP Group Inc., Class A Shares*   18,697  
  644     Cincinnati Financial Corp.   66,197  
  113     CNA Financial Corp.   4,761  
  2,005     CNO Financial Group Inc.   53,132  
  832     Corebridge Financial Inc.   17,497  
  327     Crawford & Co., Class A Shares   3,656  
  281     Donegal Group Inc., Class A Shares   3,999  
  503     eHealth Inc.*   3,737  
  478     Employers Holdings Inc.   18,312  
  210     Enstar Group Ltd.*   57,674  
  1,503     Equitable Holdings Inc.   46,127  
  1,859     Essent Group Ltd.   89,864  
  180     Everest Group Ltd.   73,899  
  342     F&G Annuities & Life Inc.   13,957  
  277     Fidelis Insurance Holdings Ltd.*   3,379  
  1,091     Fidelity National Financial Inc.   48,920  
  46,656     First American Financial Corp.   2,780,698  
  8,402     Genworth Financial Inc., Class A Shares*   49,488  
  370     Globe Life Inc.   45,558  
  27,610     Goosehead Insurance Inc., Class A Shares*   2,023,261  
  467     Greenlight Capital Re Ltd., Class A Shares*   5,174  
  25,770     Hanover Insurance Group Inc.   3,203,211  
  63,075     Hartford Financial Services Group Inc.   4,929,942  
  18,540     HCI Group Inc.   1,571,636  
  64,146     Heritage Insurance Holdings Inc.*   563,843  
  732     Horace Mann Educators Corp.   24,493  
  22     Investors Title Co.   3,327  
  1,458     Jackson Financial Inc., Class A Shares   69,590  
  672     James River Group Holdings Ltd.   6,035  
  260     Kemper Corp.   11,500  
  1,002     Kinsale Capital Group Inc.   350,800  
  920     Lemonade Inc.*   16,256  
  720     Lincoln National Corp.   17,122  
  777     Loews Corp.   54,615  
  1,596     Maiden Holdings Ltd.*   2,857  
  55     Markel Group Inc.*   79,150  
  900     MBIA Inc.*   6,516  
  44,704     Mercury General Corp.   1,665,224  
  140,510     MGIC Investment Corp.   2,471,571  
  41     National Western Life Group Inc., Class A Shares   19,665  
  62,694     NMI Holdings Inc., Class A Shares*   1,724,085  
  1,134     Old Republic International Corp.   33,238  
  10,341     Palomar Holdings Inc.*   605,052  
  21,066     Primerica Inc.   4,413,538  

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
FINANCIAL - 21.9% - (continued)  
Insurance - 5.6% - (continued)  
  1,013     Principal Financial Group Inc.   $ 74,790  
  965     ProAssurance Corp.   11,937  
  1,534     Prudential Financial Inc.   149,995  
  280     Reinsurance Group of America Inc.   45,657  
  211     RenaissanceRe Holdings Ltd.   45,230  
  170     RLI Corp.   23,052  
  395     Ryan Specialty Holdings Inc., Class A Shares*   18,119  
  257     Safety Insurance Group Inc.   19,771  
  1,056     Selective Insurance Group Inc.   107,385  
  2,393     Selectquote Inc.*   3,015  
  1,636     SiriusPoint Ltd.*   17,472  
  78,321     Skyward Specialty Insurance Group Inc.*   2,561,097  
  477     Stewart Information Services Corp.   22,538  
  443     Tiptree Inc.   8,258  
  705     Trupanion Inc.*   18,133  
  388     United Fire Group Inc.   8,105  
  471     Universal Insurance Holdings Inc.   7,988  
  827     Unum Group   35,561  
  11     White Mountains Insurance Group Ltd.   16,851  
  17,339     Willis Towers Watson PLC   4,270,596  
  850     WR Berkley Corp.   61,667  
        Total Insurance   41,611,566  
Investment Companies - 0.0%  
  1,271     Cannae Holdings Inc.*   22,827  
  1,789     FTAI Infrastructure Inc.   6,619  
        Total Investment Companies   29,446  
Private Equity - 0.9%  
  672     Ares Management Corp., Class A Shares   75,432  
  892     Carlyle Group Inc.   30,578  
  298     Chicago Atlantic Real Estate Finance Inc., REIT   4,613  
  86,598     KKR & Co., Inc.   6,567,592  
  786     P10 Inc., Class A Shares   8,017  
  977     Patria Investments Ltd., Class A Shares   13,834  
        Total Private Equity   6,700,066  
Real Estate - 0.6%  
  1,949     Anywhere Real Estate Inc.*      10,486  
  1,296     CBRE Group Inc., Class A Shares*    102,332  
  5,357     Compass Inc., Class A Shares*    11,893  
  2,957     Cushman & Wakefield PLC*    24,277  
  1,495     Douglas Elliman Inc.    2,915  
  1,270     eXp World Holdings Inc.    15,380  
  122     FRP Holdings Inc.*    6,728  
  146     Howard Hughes Holdings Inc.*    10,732  
  200     Jones Lang LaSalle Inc.*    31,104  
  2,118     Kennedy-Wilson Holdings Inc.    24,039  
  182     Legacy Housing Corp.*    4,077  
  428     Marcus & Millichap Inc.    14,727  
  15,159     McGrath RentCorp    1,541,519  
  382,855     Newmark Group Inc., Class A Shares    3,150,897  
  319     RE/MAX Holdings Inc., Class A Shares    2,935  
  1,913     Redfin Corp.*    13,334  
  285     RMR Group Inc., Class A Shares    6,792  
  609     St Joe Co.    31,321  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
FINANCIAL - 21.9% - (continued)  
Real Estate - 0.6% - (continued)  
  227     Star Holdings*   $ 2,774  
  128     Stratus Properties Inc.*    3,593  
        Total Real Estate   5,011,855  
Savings & Loans - 0.0%  
  1,004     Axos Financial Inc.*    38,423  
  975     Banc of California Inc.    11,271  
  790     Berkshire Hills Bancorp Inc.    16,535  
  1,569     Brookline Bancorp Inc.    14,953  
  2,315     Capitol Federal Financial Inc.    12,478  
  153     ESSA Bancorp Inc.    2,554  
  523     Flushing Financial Corp.    7,390  
  122     FS Bancorp Inc.    3,703  
  129     Greene County Bancorp Inc.    3,238  
  27     Hingham Institution For Savings The    4,401  
  131     Home Bancorp Inc.    4,775  
  290     HomeTrust Bancshares Inc.    6,693  
  3,002     New York Community Bancorp Inc.    28,249  
  766     Northfield Bancorp Inc.    7,308  
  2,265     Northwest Bancshares Inc.    25,232  
  1,045     OceanFirst Financial Corp.    14,484  
  1,677     Pacific Premier Bancorp Inc.    37,766  
  1,309     Provident Financial Services Inc.    19,923  
  160     Southern Missouri Bancorp Inc.    6,894  
  210     TFS Financial Corp.    2,774  
  138     Timberland Bancorp Inc.    4,021  
  1,160     WaFd Inc.    31,007  
  338     Waterstone Financial Inc.    4,127  
  1,081     WSFS Financial Corp.    41,694  
        Total Savings & Loans   349,893  
        TOTAL FINANCIAL   172,607,041  
GOVERNMENT - 0.0%  
Multi-National - 0.0%  
  499     Banco Latinoamericano de Comercio Exterior SA, Class E Shares    12,161  
INDUSTRIAL - 18.9%  
Aerospace/Defense - 2.7%  
  50,823     AAR Corp.*    3,522,034  
  20,176     AeroVironment Inc.*    2,776,419  
  474     AerSale Corp.*    6,612  
  2,745     Archer Aviation Inc., Class A Shares*    16,415  
  478     Astronics Corp.*    7,098  
  868     Barnes Group Inc.    22,898  
  819     Curtiss-Wright Corp.    175,184  
  237     Ducommun Inc.*    11,940  
  414     Eve Holding Inc.*    2,923  
  190     HEICO Corp.    32,496  
  336     HEICO Corp., Class A Shares    46,170  
  32,155     Hexcel Corp.    2,228,663  
  70,989     Howmet Aerospace Inc.    3,734,021  
  4,933     Joby Aviation Inc.*    29,401  
  512     Kaman Corp.    10,378  
  107,238     Kratos Defense & Security Solutions Inc.*    2,042,884  
  25,400     L3Harris Technologies Inc.    4,846,574  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
INDUSTRIAL - 18.9% - (continued)  
Aerospace/Defense - 2.7% - (continued)  
  10,686     Leonardo DRS Inc.*   $ 196,943  
  217     Mercury Systems Inc.*    7,441  
  2,415     Moog Inc., Class A Shares    338,124  
  95     National Presto Industries Inc.    7,098  
  4,959     Rocket Lab USA Inc.*    21,720  
  459     Spirit AeroSystems Holdings Inc., Class A Shares*    12,618  
  219     TransDigm Group Inc.    210,869  
  1,177     Triumph Group Inc.*    13,171  
        Total Aerospace/Defense   20,320,094  
Building Materials - 2.6%  
  2,876     AAON Inc.    180,038  
  292     American Woodmark Corp.*    21,141  
  395     Apogee Enterprises Inc.    17,814  
  192     Armstrong World Industries Inc.    16,284  
  84,522     Aspen Aerogels Inc.*    885,791  
  67,809     AZEK Co., Inc., Class A Shares*    2,338,732  
  2,554     Boise Cascade Co.    279,152  
  534     Builders FirstSource Inc.*    71,615  
  3,480     Carrier Global Corp.    180,821  
  149     Eagle Materials Inc.    26,976  
  533     Fortune Brands Innovations Inc.    36,473  
  540     Gibraltar Industries Inc.*    36,283  
  777     Griffon Corp.    36,154  
  581     Hayward Holdings Inc.*    6,850  
  1,517     JELD-WEN Holding Inc.*    24,242  
  44,958     Knife River Corp.*    2,683,093  
  134     Lennox International Inc.    54,492  
  53,275     Louisiana-Pacific Corp.    3,249,242  
  482     LSI Industries Inc.    6,319  
  5,458     Martin Marietta Materials Inc.    2,535,732  
  944     Masco Corp.    57,159  
  29,634     Masonite International Corp.*    2,632,981  
  2,299     Masterbrand Inc.*    30,853  
  862     MDU Resources Group Inc.    16,499  
  88,854     Modine Manufacturing Co.*    4,371,617  
  225     Mohawk Industries Inc.*    19,870  
  377     Owens Corning    51,114  
  1,006     PGT Innovations Inc.*    32,383  
  753     Simpson Manufacturing Co., Inc.    125,728  
  3,367     SmartRent Inc., Class A Shares*    10,539  
  4,750     SPX Technologies Inc.*    405,223  
  5,555     Summit Materials Inc., Class A Shares*    192,703  
  951     Trane Technologies PLC    214,365  
  459     Trex Co., Inc.*    32,254  
  1,054     UFP Industries Inc.    115,550  
  554     Vulcan Materials Co.    118,312  
        Total Building Materials   21,114,394  
Electrical Components & Equipment - 0.1%  
  132     Acuity Brands Inc.    23,662  
  961     AMETEK Inc.    149,176  
  15,335     Belden Inc.    1,018,857  
  1,005     Blink Charging Co.*    3,236  
  1,326     ChargePoint Holdings Inc.*    2,466  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
INDUSTRIAL - 18.9% - (continued)  
Electrical Components & Equipment - 0.1% - (continued)  
  282     Encore Wire Corp.   $ 51,973  
  1,265     Energizer Holdings Inc.    39,013  
  725     EnerSys    64,148  
  1,684     ESS Tech Inc.*    1,970  
  257     Generac Holdings Inc.*    30,087  
  339     Insteel Industries Inc.    11,533  
  102     Littelfuse Inc.    23,746  
  808     nLight Inc.*    10,682  
  628     Novanta Inc.*    90,708  
  165     Powell Industries Inc.    13,721  
  197     Universal Display Corp.    33,332  
        Total Electrical Components & Equipment   1,568,310  
Electronics - 2.1%  
  661     Advanced Energy Industries Inc.    62,828  
  369     Allegion PLC    39,147  
  239     Allient Inc.    6,233  
  2,435     Amphenol Corp., Class A Shares    221,561  
  196,189     Applied Optoelectronics Inc.*(a)    2,599,504  
  242     Arrow Electronics Inc.*    28,692  
  678     Atkore Inc.*    88,072  
  306     Atmus Filtration Technologies Inc.*    6,695  
  387     Avnet Inc.    18,096  
  2,054     Badger Meter Inc.    302,698  
  191     Bel Fuse Inc., Class B Shares    10,333  
  634     Benchmark Electronics Inc.    15,818  
  77,073     Camtek Ltd.*    4,892,594  
  11,165     Celestica Inc.*    301,008  
  508     Coherent Corp.*    18,689  
  498     Comtech Telecommunications Corp.    5,881  
  557     CTS Corp.    21,584  
  114,797     Enovix Corp.*(a)    1,270,803  
  451     ESCO Technologies Inc.    47,346  
  2,051     Evolv Technologies Holdings Inc.*    8,204  
  343     FARO Technologies Inc.*    6,301  
  58,179     Fortive Corp.    4,013,187  
  644     Garmin Ltd.    78,723  
  2,389     GoPro Inc., Class A Shares*    8,624  
  6,224     Hubbell Inc., Class B Shares    1,867,200  
  803     Itron Inc.*    54,106  
  535     Jabil Inc.    61,696  
  742     Keysight Technologies Inc.*    100,830  
  433     Kimball Electronics Inc.*    10,669  
  1,597     Knowles Corp.*    25,344  
  94     Mesa Laboratories Inc.    8,025  
  91     Mettler-Toledo International Inc.*    99,366  
  3,275     MicroVision Inc.*    8,253  
  3,553     Mirion Technologies Inc., Class A Shares*    31,728  
  569     Napco Security Technologies Inc.    17,411  
  877     NEXTracker Inc., Class A Shares*    35,641  
  88     NVE Corp.    6,307  
  693     nVent Electric PLC    36,902  
  280     OSI Systems Inc.*    34,521  
  484     Plexus Corp.*    49,315  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
INDUSTRIAL - 18.9% - (continued)  
Electronics - 2.1% - (continued)  
  1,015     Sanmina Corp.*   $ 50,862  
  639     Sensata Technologies Holding PLC    20,774  
  482     Stoneridge Inc.*    7,712  
  197     TD SYNNEX Corp.    19,432  
  1,034     Trimble Inc.*    47,978  
  1,818     TTM Technologies Inc.*    27,288  
  275     Turtle Beach Corp.*    3,110  
  394     Vicor Corp.*    14,409  
  2,270     Vishay Intertechnology Inc.    50,462  
  661     Vontier Corp.    22,296  
  250     Woodward Inc.    33,795  
        Total Electronics   16,818,053  
Engineering & Construction - 2.0%  
  502     908 Devices Inc.*    3,996  
  550     AECOM    48,873  
  3,496     Arcosa Inc.    259,403  
  190     Bowman Consulting Group Ltd., Class A Shares*    5,858  
  2,424     Comfort Systems USA Inc.    469,238  
  473     Concrete Pumping Holdings Inc.*    3,519  
  30,950     Construction Partners Inc., Class A Shares*    1,298,662  
  505     Dycom Industries Inc.*    52,454  
  18,310     EMCOR Group Inc.    3,891,241  
  890     Exponent Inc.    68,494  
  12,298     Fluor Corp.*    467,693  
  1,451     Frontdoor Inc.*    49,813  
  781     Granite Construction Inc.    35,887  
  1,197     Great Lakes Dredge & Dock Corp.*    8,044  
  149     IES Holdings Inc.*    10,426  
  786     Iteris Inc.*    3,333  
  20,227     Jacobs Solutions Inc.    2,572,470  
  167     Limbach Holdings Inc.*    6,366  
  265     MasTec Inc.*    16,070  
  367     Mistras Group Inc.*    2,430  
  14,300     MYR Group Inc.*    1,779,206  
  244     NV5 Global Inc.*    23,736  
  51,259     Primoris Services Corp.    1,556,223  
  53,284     Sterling Infrastructure Inc.*    3,384,067  
  134     TopBuild Corp.*    39,635  
  792     Tutor Perini Corp.*    6,629  
        Total Engineering & Construction   16,063,766  
Environmental Control - 1.1%  
  992     Casella Waste Systems Inc., Class A Shares*    80,233  
  43,724     CECO Environmental Corp.*    841,687  
  24,566     Clean Harbors Inc.*    3,971,340  
  35,777     Energy Recovery Inc.*    681,910  
  95,245     Enviri Corp.*    561,945  
  2,524     Li-Cycle Holdings Corp.*    2,225  
  41,594     Montrose Environmental Group Inc.*    1,300,644  
  690     Pentair PLC    44,533  
  359     Pure Cycle Corp.*    3,590  
  2,103     PureCycle Technologies Inc.*    8,496  
  864     Republic Services Inc., Class A Shares    139,830  
  392     Stericycle Inc.*    18,412  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
INDUSTRIAL - 18.9% - (continued)  
Environmental Control - 1.1% - (continued)  
  2,055     Tetra Tech Inc.   $ 324,998  
        Total Environmental Control   7,979,843  
Hand/Machine Tools - 1.1%  
  354     Cadre Holdings Inc.    11,399  
  60,985     Enerpac Tool Group Corp., Class A Shares    1,664,890  
  812     Franklin Electric Co., Inc.    72,268  
  1,425     Kennametal Inc.    33,217  
  235     Lincoln Electric Holdings Inc.    46,544  
  509     Luxfer Holdings PLC    4,199  
  1,609     MSA Safety Inc.    280,191  
  49,472     Regal Rexnord Corp.    5,926,746  
  218     Snap-on Inc.    59,882  
  643     Stanley Black & Decker Inc.    58,449  
        Total Hand/Machine Tools   8,157,785  
Machinery-Construction & Mining - 0.3%  
  230     Argan Inc.    10,727  
  406     Astec Industries Inc.    12,623  
  1,077     Babcock & Wilcox Enterprises Inc.*    1,529  
  3,398     Bloom Energy Corp., Class A Shares*    49,067  
  27,805     BWX Technologies Inc.    2,169,624  
  199     Hyster-Yale Materials Handling Inc.    9,486  
  635     Manitowoc Co., Inc.*    9,100  
  971     NuScale Power Corp.*    2,690  
  276     Oshkosh Corp.    26,852  
  1,181     Terex Corp.    58,460  
  1,440     Vertiv Holdings Co., Class A Shares    62,870  
        Total Machinery-Construction & Mining   2,413,028  
Machinery-Diversified - 2.4%  
  264     AGCO Corp.    29,972  
  179     Alamo Group Inc.    32,882  
  551     Albany International Corp., Class A Shares    47,287  
  2,957     Applied Industrial Technologies Inc.    473,327  
  58,137     Cactus Inc., Class A Shares    2,470,241  
  2,518     Chart Industries Inc.*    327,416  
  4,105     CNH Industrial NV    44,088  
  729     Cognex Corp.    27,483  
  504     Columbus McKinnon Corp.    17,600  
  1,495     Crane Co.    157,992  
  272     CSW Industrials Inc.    48,234  
  28,384     Dover Corp.    4,006,685  
  258     DXP Enterprises Inc.*    7,554  
  1,039     Eastman Kodak Co.*    3,761  
  241     ESAB Corp.    18,593  
  555     Flowserve Corp.    21,234  
  246,521     Gates Industrial Corp. PLC*    3,022,347  
  241     Gencor Industries Inc.*    3,601  
  412     Gorman-Rupp Co.    13,011  
  702     Graco Inc.    56,708  
  3,490     GrafTech International Ltd.    8,620  
  511     Ichor Holdings Ltd.*    13,352  
  18,617     IDEX Corp.    3,754,677  
  1,693     Ingersoll Rand Inc.    120,931  
  206     Kadant Inc.    53,688  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
INDUSTRIAL - 18.9% - (continued)  
Machinery-Diversified - 2.4% - (continued)  
  197     Lindsay Corp.   $ 23,504  
  225     Middleby Corp.*    28,402  
  2,743     Mueller Water Products Inc., Class A Shares    36,454  
  240     Nordson Corp.    56,482  
  1,728     Otis Worldwide Corp.    148,245  
  480     Rockwell Automation Inc.    132,211  
  329     Tennant Co.    28,169  
  598     Thermon Group Holdings Inc.*    18,030  
  438     Toro Co.    36,354  
  480     Watts Water Technologies Inc., Class A Shares    92,405  
  747     Westinghouse Air Brake Technologies Corp.    87,070  
  39,093     Xylem Inc.    4,109,847  
  6,554     Zurn Elkay Water Solutions Corp.    192,950  
        Total Machinery-Diversified   19,771,407  
Metal Fabricate/Hardware - 0.8%  
  287     Advanced Drainage Systems Inc.    34,759  
  442     AZZ Inc.    21,733  
  580     Helios Technologies Inc.    22,260  
  3,460     Hillman Solutions Corp.*    25,327  
  1,521     Janus International Group Inc.*    16,047  
  260     Mayville Engineering Co., Inc.*    3,302  
  1,970     Mueller Industries Inc.    81,814  
  178     Northwest Pipe Co.*    4,827  
  179     Olympic Steel Inc.    10,119  
  59     Omega Flex Inc.    4,161  
  155     Park-Ohio Holdings Corp.    3,529  
  475     Proto Labs Inc.*    17,195  
  119     RBC Bearings Inc.*    30,671  
  434     Ryerson Holding Corp.    13,441  
  26,582     Standex International Corp.    3,557,203  
  266     Timken Co.    19,258  
  778     TimkenSteel Corp.*    15,809  
  464     Tredegar Corp.    2,181  
  10,884     Valmont Industries Inc.    2,389,800  
  544     Worthington Industries Inc.    39,005  
  616     Xometry Inc., Class A Shares*    15,080  
        Total Metal Fabricate/Hardware   6,327,521  
Miscellaneous Manufacturers - 2.2%  
  1,659     AMMO Inc.*    3,384  
  517     AO Smith Corp.    38,961  
  2,127     Axon Enterprise Inc.*    488,933  
  208     Carlisle Cos., Inc.    58,325  
  141     Core Molding Technologies Inc.*    2,537  
  511     Donaldson Co., Inc.    31,089  
  26,948     EnPro Industries Inc.    3,460,932  
  2,785     Fabrinet*    450,892  
  53,781     Federal Signal Corp.    3,707,662  
  1,216     Hillenbrand Inc.    47,108  
  42,674     ITT Inc.    4,620,314  
  560     John Bean Technologies Corp.    57,848  
  999     LSB Industries Inc.*    8,561  
  363     Materion Corp.    41,059  
  660     Myers Industries Inc.    11,629  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
INDUSTRIAL - 18.9% - (continued)  
Miscellaneous Manufacturers - 2.2% - (continued)  
  336     Park Aerospace Corp.   $ 5,067  
  6,134     Parker-Hannifin Corp.    2,657,126  
  829     Smith & Wesson Brands Inc.    11,399  
  313     Sturm Ruger & Co., Inc.    13,759  
  195     Teledyne Technologies Inc.*    78,577  
  829     Textron Inc.    63,551  
  1,436     Trinity Industries Inc.    35,843  
        Total Miscellaneous Manufacturers   15,894,556  
Packaging & Containers - 0.5%  
  6,209     Amcor PLC    58,861  
  276     AptarGroup Inc.    35,022  
  602     Ardagh Metal Packaging SA    2,420  
  1,292     Ball Corp.    71,435  
  503     Berry Global Group Inc.    33,258  
  304     Clearwater Paper Corp.*    10,661  
  446     Crown Holdings Inc.    38,360  
  1,286     Graphic Packaging Holding Co.    29,154  
  431     Greif Inc., Class A Shares    30,127  
  96     Greif Inc., Class B Shares    6,686  
  95,272     O-I Glass Inc.*    1,406,215  
  371     Packaging Corp. of America    62,332  
  748     Pactiv Evergreen Inc.    8,557  
  793     Ranpak Holdings Corp., Class A Shares*    3,251  
  611     Sealed Air Corp.    20,395  
  55,722     Silgan Holdings Inc.    2,324,722  
  414     Sonoco Products Co.    22,836  
  741     TriMas Corp.    18,992  
  1,069     WestRock Co.    44,011  
        Total Packaging & Containers   4,227,295  
Shipbuilding - 0.0%  
  165     Huntington Ingalls Industries Inc.    39,108  
               
Transportation - 0.9%  
  1,003     Air Transport Services Group Inc.*    15,958  
  16,176     ArcBest Corp.    1,928,017  
  748     Ardmore Shipping Corp.    10,173  
  483     CH Robinson Worldwide Inc.    39,630  
  887     Costamare Inc.    8,968  
  154     Covenant Logistics Group Inc., Class A Shares    6,556  
  734     CryoPort Inc.*    10,291  
  744     Daseke Inc.*    3,259  
  2,437     DHT Holdings Inc.    24,273  
  573     Dorian LPG Ltd.    24,272  
  171     Eagle Bulk Shipping Inc.    7,772  
  637     Expeditors International of Washington Inc.    76,657  
  534     FLEX LNG Ltd.    15,497  
  463     Forward Air Corp.    29,414  
  763     Genco Shipping & Trading Ltd.    11,842  
  2,200     Golden Ocean Group Ltd.    20,790  
  845     Heartland Express Inc.    11,340  
  554     Hub Group Inc., Class A Shares*    41,855  
  719     International Seaways Inc.    32,815  
  345     JB Hunt Transport Services Inc.    63,918  
  253     Kirby Corp.*    19,418  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
INDUSTRIAL - 18.9% - (continued)  
Transportation - 0.9% - (continued)  
  73,259     Knight-Swift Transportation Holdings Inc., Class A Shares   $ 3,939,869  
  151     Landstar System Inc.    26,070  
  1,035     Marten Transport Ltd.    19,510  
  627     Matson Inc.    60,048  
  3,685     Nordic American Tankers Ltd.    14,298  
  412     Old Dominion Freight Line Inc.    160,293  
  1,147     Overseas Shipholding Group Inc., Class A Shares*    5,563  
  665     Pangaea Logistics Solutions Ltd.    4,655  
  667     Radiant Logistics Inc.*    4,009  
  2,051     RXO Inc.*    42,989  
  191     Ryder System Inc.    20,464  
  1,230     Safe Bulkers Inc.    4,772  
  1,308     Saia Inc.*    510,630  
  242     Schneider National Inc., Class B Shares    5,573  
  871     Scorpio Tankers Inc.    47,809  
  2,048     SFL Corp., Ltd    23,265  
  1,230     Teekay Corp.*    8,487  
  428     Teekay Tankers Ltd., Class A Shares    21,267  
  125     Universal Logistics Holdings Inc.    3,093  
  1,117     Werner Enterprises Inc.    44,691  
  1,096     World Kinect Corp.    23,060  
  480     XPO Inc.*    41,414  
        Total Transportation   7,434,544  
Trucking & Leasing - 0.1%  
  624     GATX Corp.    68,016  
  13,934     Greenbrier Cos., Inc.    525,451  
  73     Willis Lease Finance Corp.*    3,338  
        Total Trucking & Leasing   596,805  
        TOTAL INDUSTRIAL   148,726,509  
TECHNOLOGY - 6.7%  
Computers - 2.1%  
  2,312     3D Systems Corp.*    12,346  
  500     Amdocs Ltd.    41,885  
  847     ASGN Inc.*    75,586  
  10,301     CACI International Inc., Class A Shares*    3,306,106  
  1,060     Cantaloupe Inc.*    7,494  
  2,123     Cognizant Technology Solutions Corp., Class A Shares    149,417  
  3,116     Conduent Inc.*    9,473  
  673     Corsair Gaming Inc.*    8,688  
  208     Crane NXT Co.    10,704  
  878     Cricut Inc., Class A Shares    6,058  
  880     Crowdstrike Holdings Inc., Class A Shares*    208,551  
  2,320     CyberArk Software Ltd.*    462,306  
  48,000     Dell Technologies Inc., Class C Shares    3,641,760  
  5,175     Desktop Metal Inc., Class A Shares*    3,621  
  894     DXC Technology Co.*    20,678  
  2,492     Endava PLC, ADR*    162,578  
  233     EPAM Systems Inc.*    60,158  
  75,632     ExlService Holdings Inc.*    2,145,680  
  758     Genpact Ltd.    25,742  
  174     Globant SA*    38,419  
  101,741     Grid Dynamics Holdings Inc.*    1,290,076  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
TECHNOLOGY - 6.7% - (continued)  
Computers - 2.1% - (continued)  
  5,413     Hewlett Packard Enterprise Co.   $ 91,534  
  3,616     HP Inc.    106,093  
  504     Insight Enterprises Inc.*    76,316  
  869     Integral Ad Science Holding Corp.*    12,679  
  570     KBR Inc.    29,452  
  972     Kyndryl Holdings Inc.*    17,525  
  573     Leidos Holdings Inc.    61,494  
  75,532     Lumentum Holdings Inc.*    3,232,770  
  1,068     MAXIMUS Inc.    89,167  
  782     Mitek Systems Inc.*    8,829  
  273     NCR Atleos Corp.*    6,063  
  546     NCR Voyix Corp.*    8,561  
  883     NetApp Inc.    80,697  
  1,206     NetScout Systems Inc.*    24,216  
  993     NextNav Inc.*    3,932  
  736     OneSpan Inc.*    7,382  
  475     PAR Technology Corp.*    17,494  
  2,358     Parsons Corp.*    146,880  
  671     PlayAGS Inc.*    5,133  
  1,183     Pure Storage Inc., Class A Shares*    39,406  
  653     Qualys Inc.*    120,701  
  1,057     Rapid7 Inc.*    57,237  
  1,184     Rimini Street Inc.*    3,718  
  227     Science Applications International Corp.    26,652  
  3,458     Super Micro Computer Inc.*    945,659  
  2,004     Tenable Holdings Inc.*    82,946  
  1,712     Thoughtworks Holding Inc.*    6,677  
  354     TTEC Holdings Inc.    6,627  
  1,211     Unisys Corp.*    5,801  
  1,912     Varonis Systems Inc., Class B Shares*    80,094  
  1,078     Vuzix Corp.*    2,264  
  1,340     Western Digital Corp.*    64,735  
  366     Zscaler Inc.*    72,296  
        Total Computers   17,228,356  
Office/Business Equipment - 0.0%  
  3,178     Pitney Bowes Inc.    12,839  
  2,031     Xerox Holdings Corp.    28,414  
  215     Zebra Technologies Corp., Class A Shares*    50,951  
        Total Office/Business Equipment   92,204  
Semiconductors - 2.7%  
  861     ACM Research Inc., Class A Shares*    14,327  
  21,731     Aehr Test Systems*    498,944  
  324     Allegro MicroSystems Inc.*    8,819  
  418     Alpha & Omega Semiconductor Ltd.*    8,941  
  670     Ambarella Inc.*    39,336  
  1,808     Amkor Technology Inc.    50,931  
  373     Atomera Inc.*    2,570  
  572     Axcelis Technologies Inc.*    71,088  
  426     CEVA Inc.*    9,270  
  235     Cirrus Logic Inc.*    17,839  
  827     Cohu Inc.*    26,241  
  794     Diodes Inc.*    52,737  
  626     Entegris Inc.    65,354  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
TECHNOLOGY - 6.7% - (continued)  
Semiconductors - 2.7% - (continued)  
  1,360     FormFactor Inc.*   $ 51,109  
  333     GLOBALFOUNDRIES Inc.*    17,879  
  409     Impinj Inc.*    34,188  
  188     inTEST Corp.*    2,457  
  129     IPG Photonics Corp.*    12,353  
  978     Kulicke & Soffa Industries Inc.    50,387  
  572     Lattice Semiconductor Corp.*    33,491  
  955     MACOM Technology Solutions Holdings Inc.*    80,201  
  87,969     Marvell Technology Inc.    4,902,512  
  1,321     MaxLinear Inc., Class A Shares*    24,742  
  38,347     Microchip Technology Inc.    3,199,674  
  281     MKS Instruments Inc.    23,197  
  190     Monolithic Power Systems Inc.    104,257  
  1,967     Navitas Semiconductor Corp., Class A Shares*    13,651  
  1,801     ON Semiconductor Corp.*    128,465  
  4,017     Onto Innovation Inc.*    566,437  
  1,086     Photronics Inc.*    22,947  
  49,398     Power Integrations Inc.    3,774,501  
  412     Qorvo Inc.*    39,758  
  6,085     Rambus Inc.*    411,772  
  211     Richardson Electronics Ltd.    2,747  
  1,133     Semtech Corp.*    18,547  
  18,402     Silicon Laboratories Inc.*    1,939,019  
  304     SiTime Corp.*    33,622  
  100,358     SkyWater Technology Inc.*(a)    707,524  
  667     Skyworks Solutions Inc.    64,652  
  16,214     SMART Global Holdings Inc.*    270,125  
  694     Synaptics Inc.*    70,261  
  653     Teradyne Inc.    60,226  
  790     Ultra Clean Holdings Inc.*    21,441  
  69,287     Veeco Instruments Inc.*    1,976,758  
  228     Vishay Precision Group Inc.*    6,952  
  527     Wolfspeed Inc.*    19,425  
        Total Semiconductors   19,551,674  
Software - 1.9%  
  2,106     8x8 Inc.*    6,508  
  1,913     ACI Worldwide Inc.*    51,154  
  110,035     ACV Auctions Inc., Class A Shares*    1,719,847  
  1,906     Adeia Inc.    17,516  
  38,065     Agilysys Inc.*    3,277,016  
  645     Akamai Technologies Inc.*    74,517  
  1,542     Alignment Healthcare Inc.*    11,565  
  58,601     Alkami Technology Inc.*    1,334,345  
  945     Altair Engineering Inc., Class A Shares*    68,475  
  266     Alteryx Inc., Class A Shares*    10,653  
  598     American Software Inc., Class A Shares    5,938  
  1,217     Amplitude Inc., Class A Shares*    12,961  
  363     ANSYS Inc.*    106,490  
  2,109     Appfolio Inc., Class A Shares*    399,128  
  726     Appian Corp., Class A Shares*    26,310  
  885     AppLovin Corp., Class A Shares*    33,170  
  1,410     Asana Inc., Class A Shares*    29,624  
  118     Aspen Technology Inc.*    22,215  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
TECHNOLOGY - 6.7% - (continued)  
Software - 1.9% - (continued)  
  349     Asure Software Inc.*   $ 2,782  
  2,738     AvePoint Inc.*    22,424  
  2,652     AvidXchange Holdings Inc.*    28,297  
  425     Bandwidth Inc., Class A Shares*    4,667  
  808     Bentley Systems Inc., Class B Shares    42,064  
  1,213     BigCommerce Holdings Inc.*    10,577  
  431     BILL Holdings Inc.*    28,218  
  767     Blackbaud Inc.*    57,709  
  992     BlackLine Inc.*    57,387  
  2,479     Box Inc., Class A Shares*    64,875  
  6,823     Braze Inc., Class A Shares*    374,856  
  491     Broadridge Financial Solutions Inc.    95,166  
  1,073     C3.ai Inc., Class A Shares*    31,246  
  619     Cardlytics Inc.*    4,927  
  868     CCC Intelligent Solutions Holdings Inc.*    10,138  
  724     Cerence Inc.*    12,518  
  620     Ceridian HCM Holding Inc.*    42,718  
  1,478     Clear Secure Inc., Class A Shares    31,526  
  77     Climb Global Solutions Inc.    3,672  
  1,205     Cloudflare Inc., Class A Shares*    92,966  
  776     CommVault Systems Inc.*    57,098  
  260     Computer Programs & Systems Inc.*    2,733  
  188     Concentrix Corp.    17,670  
  784     Confluent Inc., Class A Shares*    16,636  
  358     Consensus Cloud Solutions Inc.*    6,594  
  166     CoreCard Corp.*    2,163  
  398     CS Disco Inc.*    2,368  
  560     CSG Systems International Inc.    27,546  
  25     Daily Journal Corp.*    8,140  
  1,142     Datadog Inc., Class A Shares*    133,123  
  838     Definitive Healthcare Corp., Class A Shares*    6,914  
  629     Digi International Inc.*    14,807  
  261     Digimarc Corp.*    8,715  
  1,737     Digital Turbine Inc.*    8,077  
  1,124     DigitalOcean Holdings Inc.*    33,293  
  852     DocuSign Inc., Class A Shares*    36,721  
  589     Domo Inc., Class B Shares*    5,590  
  439     Donnelley Financial Solutions Inc.*    25,910  
  535     DoubleVerify Holdings Inc.*    17,762  
  517     Doximity Inc., Class A Shares*    12,020  
  1,090     Dropbox Inc., Class A Shares*    30,716  
  1,892     Duolingo Inc., Class A Shares*    401,653  
  1,010     Dynatrace Inc.*    54,086  
  3,054     E2open Parent Holdings Inc.*    11,117  
  482     Ebix Inc.    1,899  
  483     eGain Corp.*    3,680  
  329     Elastic NV*    26,438  
  1,145     Electronic Arts Inc.    158,021  
  702     Enfusion Inc., Class A Shares*    7,181  
  870     EngageSmart Inc.*    19,845  
  885     Envestnet Inc.*    33,657  
  728     Everbridge Inc.*    14,822  
  425     EverCommerce Inc.*    3,961  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
TECHNOLOGY - 6.7% - (continued)  
Software - 1.9% - (continued)  
  1,938     Evolent Health Inc., Class A Shares*   $ 53,876  
  1,018     Expensify Inc., Class A Shares*    2,372  
  101     Fair Isaac Corp.*    109,848  
  42,528     Fastly Inc., Class A Shares*    706,390  
  2,475     Fidelity National Information Services Inc.    145,134  
  302     Five9 Inc.*    23,018  
  2,851     Freshworks Inc., Class A Shares*    57,077  
  5,262     Gitlab Inc., Class A Shares*    254,365  
  344     Guidewire Software Inc.*    34,379  
  422     HashiCorp Inc., Class A Shares*    9,039  
  1,013     Health Catalyst Inc.*    7,273  
  331     HireRight Holdings Corp.*    4,353  
  191     HubSpot Inc.*    94,341  
  202     IBEX Holdings Ltd.*    3,581  
  572     Immersion Corp.    3,707  
  185     Informatica Inc., Class A Shares*    4,642  
  462     Innodata Inc.*    3,123  
  394     Inspired Entertainment Inc.*    3,097  
  356     Instructure Holdings Inc.*    9,309  
  396     Intapp Inc.*    14,850  
  2,835     IonQ Inc.*    34,672  
  306     Jack Henry & Associates Inc.    48,559  
  1,243     Jamf Holding Corp.*    20,472  
  1,888     Kaltura Inc.*    3,228  
  1,307     LivePerson Inc.*    3,712  
  259     Manhattan Associates Inc.*    57,770  
  4,558     Matterport Inc.*    11,486  
  482     MeridianLink Inc.*    9,168  
  194     MicroStrategy Inc., Class A Shares*    96,670  
  668     Model N Inc.*    15,331  
  1,381     Monday.com Ltd.*    248,359  
  275     MongoDB Inc., Class A Shares*    114,329  
  321     MSCI Inc., Class A Shares    167,193  
  1,252     N-able Inc.*    14,911  
  303     nCino Inc.*    8,372  
  968     Nutanix Inc., Class A Shares*    41,711  
  1,871     Olo Inc., Class A Shares*    10,029  
  597     ON24 Inc.    4,543  
  752     Outbrain Inc.*    2,865  
  901     Outset Medical Inc.*    4,721  
  1,568     PagerDuty Inc.*    34,182  
  7,832     Palantir Technologies Inc., Class A Shares*    157,032  
  1,347     Paychex Inc.    164,294  
  217     Paycom Software Inc.    39,420  
  238     Paycor HCM Inc.*    5,048  
  547     PDF Solutions Inc.*    16,405  
  184     Pegasystems Inc.    9,564  
  922     Phreesia Inc.*    14,208  
  3,089     Planet Labs PBC*    7,506  
  1,550     Playstudios Inc.*    3,705  
  997     PowerSchool Holdings Inc., Class A Shares*    23,250  
  1,951     Privia Health Group Inc.*    40,308  
  333     Procore Technologies Inc.*    19,677  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
TECHNOLOGY - 6.7% - (continued)  
Software - 1.9% - (continued)  
  768     Progress Software Corp.   $ 41,364  
  21,091     PROS Holdings Inc.*    770,876  
  480     PTC Inc.*    75,533  
  780     PubMatic Inc., Class A Shares*    13,034  
  204     Red Violet Inc.*    4,268  
  368     RingCentral Inc., Class A Shares*    10,473  
  1,927     ROBLOX Corp., Class A Shares*    75,750  
  551     Sapiens International Corp. NV    14,177  
  966     Schrodinger Inc.*    30,033  
  569     SEMrush Holdings Inc., Class A Shares*    6,213  
  982     SentinelOne Inc., Class A Shares*    18,746  
  5,578     Sharecare Inc.*    5,230  
  286     Simulations Plus Inc.    11,211  
  532     Smartsheet Inc., Class A Shares*    22,546  
  931     SolarWinds Corp.*    10,790  
  2,502     SoundHound AI Inc., Class A Shares*    5,354  
  639     Splunk Inc.*    96,834  
  843     Sprout Social Inc., Class A Shares*    47,967  
  2,051     SPS Commerce Inc.*    353,346  
  913     SS&C Technologies Holdings Inc.    51,365  
  690     Take-Two Interactive Software Inc.*    109,158  
  427     Teradata Corp.*    20,176  
  712     Twilio Inc., Class A Shares*    46,052  
  174     Tyler Technologies Inc.*    71,138  
  1,587     UiPath Inc., Class A Shares*    31,359  
  1,210     Unity Software Inc.*    35,707  
  606     Veeva Systems Inc., Class A Shares*    105,632  
  1,914     Veradigm Inc.*    21,973  
  1,108     Verint Systems Inc.*    27,224  
  2,460     Verra Mobility Corp., Class A Shares*    49,397  
  2,772     Vimeo Inc., Class A, Private Placement*    9,757  
  595     Weave Communications Inc.*    5,617  
  859     Workiva Inc., Class A Shares*    82,610  
  163,641     Yext Inc.*    1,084,940  
  2,451     Zeta Global Holdings Corp., Class A Shares*    20,025  
  1,051     Zoom Video Communications Inc., Class A Shares*    71,289  
  1,324     ZoomInfo Technologies Inc., Class A Shares*    19,026  
  2,314     Zuora Inc., Class A Shares*    21,104  
        Total Software   15,930,889  
        TOTAL TECHNOLOGY   52,803,123  
UTILITIES - 5.3%  
Electric - 5.1%  
  2,811     AES Corp.    48,377  
  1,018     ALLETE Inc.    56,479  
  1,055     Alliant Energy Corp.    53,351  
  1,197     Altus Power Inc., Class A Shares*    5,985  
  60,897     Ameren Corp.    4,724,998  
  573     Ameresco Inc., Class A Shares*    17,167  
  310     Avangrid Inc.    9,570  
  1,331     Avista Corp.    45,187  
  35,125     Black Hills Corp.    1,812,099  
  572     Brookfield Renewable Corp., Class A Shares    15,181  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
UTILITIES - 5.3% - (continued)  
Electric - 5.1% - (continued)  
  172,345     CenterPoint Energy Inc.   $ 4,872,193  
  190     Clearway Energy Inc., Class A Shares    4,497  
  361     Clearway Energy Inc., Class C Shares    9,014  
  85,120     CMS Energy Corp.    4,831,411  
  1,451     Consolidated Edison Inc.    130,750  
  1,369     Constellation Energy Corp.    165,704  
  863     DTE Energy Co.    89,847  
  1,582     Edison International    105,978  
  887     Entergy Corp.    89,951  
  936     Evergy Inc.    47,773  
  1,460     Eversource Energy    86,739  
  112,600     Exelon Corp.    4,336,226  
  2,282     FirstEnergy Corp.    84,297  
  357     Genie Energy Ltd., Class B Shares    8,657  
  489     Hawaiian Electric Industries Inc.    5,961  
  27,544     IDACORP Inc.    2,657,996  
  644     MGE Energy Inc.    47,495  
  1,060     Northwestern Energy Group Inc.    53,329  
  972     NRG Energy Inc.    46,501  
  845     OGE Energy Corp.    29,617  
  940     Ormat Technologies Inc.    63,281  
  727     Otter Tail Corp.    55,477  
  8,349     PG&E Corp.    143,352  
  477     Pinnacle West Capital Corp.    35,746  
  1,507     PNM Resources Inc.    62,646  
  112,126     Portland General Electric Co.    4,603,894  
  185,193     PPL Corp.    4,837,241  
  2,080     Public Service Enterprise Group Inc.    129,854  
  288     Unitil Corp.    13,962  
  1,548     Vistra Corp.    54,815  
  1,320     WEC Energy Group Inc.    110,378  
  83,404     Xcel Energy Inc.    5,074,299  
        Total Electric   39,677,275  
Gas - 0.2%  
  604     Atmos Energy Corp.    68,741  
  2,107     Brookfield Infrastructure Corp., Class A Shares    65,443  
  375     Chesapeake Utilities Corp.    35,850  
  378     National Fuel Gas Co.    19,199  
  1,709     New Jersey Resources Corp.    72,120  
  1,739     NiSource Inc.    44,588  
  638     Northwest Natural Holding Co.    23,364  
  971     ONE Gas Inc.    55,959  
  141     RGC Resources Inc.    2,475  
  1,086     Southwest Gas Holdings Inc.    64,193  
  25,592     Spire Inc.    1,561,368  
  888     UGI Corp.    19,527  
        Total Gas   2,032,827  
Water - 0.0%  
  653     American States Water Co.    52,175  
  815     American Water Works Co., Inc.    107,450  
  169     Artesian Resources Corp., Class A Shares    7,106  
  1,019     California Water Service Group    51,531  
  276     Consolidated Water Co., Ltd.    9,961  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Shares/Units     Security Value  
UTILITIES - 5.3% - (continued)  
Water - 0.0% - (continued)  
  1,023     Essential Utilities Inc.   $ 36,429  
  200     Global Water Resources Inc.    2,440  
  312     Middlesex Water Co.    19,937  
  565     SJW Group    37,087  
  259     York Water Co.    9,863  
        Total Water   333,979  
        TOTAL UTILITIES   42,044,081  
        TOTAL COMMON STOCKS      
        (Cost - $650,333,613)   754,051,295  
EXCHANGE TRADED FUND (ETF) - 1.0%  
  42,930     iShares Russell 2000      
        (Cost - $7,092,387)   7,712,804  
REIT - 0.0%  
FINANCIAL - 0.0%  
Equity Real Estate Investment Trusts (REITs) - 0.0%  
  2,619     Outfront Media Inc.      
        (Cost - $24,476)   32,030  
LIMITED PARTNERSHIP - 0.0%  
FINANCIAL - 0.0%  
Investment Companies - 0.0%  
  1,125     Compass Diversified Holdings      
        (Cost - $20,415)   22,691  
CLOSED-END FUND - 0.0%  
  557     NexPoint Strategic Opportunities Fund, Class Common Shares      
        (Cost - $4,500)   4,489  
        TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS      
        (Cost - $657,475,391)   761,823,309  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (continued)

 

Face Amount     Security    Value  
             
SHORT-TERM INVESTMENTS - 3.4%  
TIME DEPOSITS - 3.4%  
$ 17,166,878     Citibank - New York, 4.680% due 12/1/23   $ 17,166,878  
  4,042,940     Royal Bank of Canada - Toronto, 4.680% due 12/1/23    4,042,940  
  5,727,535     Sumitomo Mitsui Banking Corp. - Tokyo, 4.680% due 12/1/23    5,727,535  
        TOTAL TIME DEPOSITS      
        (Cost - $26,937,353)   26,937,353  

 

Shares/Units            
             
INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING - 0.9%      
MONEY MARKET FUND - 0.9%  
   6,946,300     Federated Government Obligations Fund, Premier Class, 5.213%(b)      
        (Cost - $6,946,300)  

6,946,300

  
        TOTAL INVESTMENTS - 101.0%      
        (Cost - $691,359,044)   795,706,962  
        Liabilities in Excess of Other Assets - (1.0)%   (8,223,867 )
        TOTAL NET ASSETS - 100.0%   $ 787,483,095  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Small-Mid Cap Equity Fund (concluded)

 

 

* Non-income producing security.

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

(b) Represents investment of collateral received from securities lending transactions.

 

Abbreviations used in this schedule:
ADR — American Depositary Receipts
PLC — Public Limited Company
REIT — Real Estate Investment Trusts

 

Summary of Investments by Security Sector^     
Consumer Non-cyclical   22.3%
Financial   21.7 
Industrial   18.7 
Consumer Cyclical   8.7 
Technology   6.6 
Utilities   5.3 
Basic Materials   5.0 
Energy   4.0 
Communications   2.4 
Government   0.0*
Exchange Traded Funds (ETFs)   1.0 
Closed-End Fund   0.0*
Short-Term Investments   3.4 
Money Market Fund   0.9 
    100.0%

 

 

^ As a percentage of total investments.

* Position represents less than 0.05%.

 

At November 30, 2023, Destinations Small-Mid 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:                                  
E-mini Russell 2000 Index December Futures   2    12/23   $177,960   $181,220   $3,260 
S&P MidCap 400 Index December Futures   1    12/23    252,240    256,760    4,520 
                        7,780 

 

At November 30, 2023, Destinations Small-Mid Cap Equity Fund had deposited cash of $ 23,800 with a broker or brokers as margin collateral on open exchange traded futures contracts.

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Equity Income Fund

 

Face Amount/Units   Security  Value 
CORPORATE BOND & NOTE - 0.2%    
Utilities - 0.2%     
$ 1,300,000   Alliant Energy Corp., Senior Unsecured Notes, 3.875% due 3/15/26(a)  $1,281,800 
        TOTAL CORPORATE BOND & NOTE     
    (Cost - $1,300,000)   1,281,800 
          
Shares/Units           
            
COMMON STOCKS - 92.6%     
BASIC MATERIALS - 4.6%     
Chemicals - 2.9%     
62,840   DuPont de Nemours Inc.   4,495,574 
82,625   LyondellBasell Industries NV, Class A Shares   7,857,638 
55,346   Nutrien Ltd. (Toronto Exchange)   2,960,434 
38,650   Nutrien Ltd. (NewYork Exchange)   2,066,615 
    Total Chemicals   17,380,261 
Mining - 1.7%     
71,675   Agnico Eagle Mines Ltd.   3,848,947 
148,074   BHP Group Ltd.   4,516,323 
27,825   Rio Tinto PLC, ADR   1,922,429 
    Total Mining   10,287,699 
    TOTAL BASIC MATERIALS   27,667,960 
COMMUNICATIONS - 6.2%     
Advertising - 0.6%     
38,939   Publicis Groupe SA   3,304,320 
Telecommunications - 5.6%     
588,630   AT&T Inc.   9,753,599 
141,925   BCE Inc.   5,588,513 
121,051   Cisco Systems Inc.   5,856,447 
1,628,800   Singapore Telecommunications Ltd.   2,816,429 
302,210   Telenor ASA   3,251,404 
181,225   TELUS Corp.(b)   3,245,740 
92,175   Verizon Communications Inc.   3,533,068 
    Total Telecommunications   34,045,200 
    TOTAL COMMUNICATIONS   37,349,520 
CONSUMER CYCLICAL - 5.3%     
Apparel - 0.4%     
4,947   Kering SA   2,131,626 
Auto Manufacturers - 0.4%     
75,126   General Motors Co.   2,373,982 
Distribution/Wholesale - 1.0%     
101,470   Mitsui & Co., Ltd.   3,678,015 
5,890   Watsco Inc.   2,251,335 
    Total Distribution/Wholesale   5,929,350 
Lodging - 0.8%     
101,794   Las Vegas Sands Corp.   4,694,739 
Retail - 2.7%     
53,475   Best Buy Co., Inc.   3,793,516 
19,510   Darden Restaurants Inc.   3,052,730 
8,575   Home Depot Inc.   2,688,177 
8,190   McDonald's Corp.   2,308,270 

 

 

 

  

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Equity Income Fund (continued)

 

Shares/Units   Security Value  
COMMON STOCKS - (continued)  
CONSUMER CYCLICAL - (continued)  
Retail - (continued)  
  30,102     Walmart Inc.   $ 4,686,580  
        Total Retail   16,529,273  
        TOTAL CONSUMER CYCLICAL   31,658,970  
CONSUMER NON-CYCLICAL - 21.4%  
Agriculture - 2.3%  
  132,445     British American Tobacco PLC   4,214,680  
  100,696     Philip Morris International Inc.   9,400,979  
        Total Agriculture   13,615,659  
Beverages - 3.1%  
  128,892     Coca-Cola Co.   7,532,448  
  58,729     Heineken NV   5,370,010  
  76,625     Keurig Dr Pepper Inc.   2,419,051  
  17,550     PepsiCo Inc.   2,953,490  
        Total Beverages   18,274,999  
Biotechnology - 2.7%  
  26,340     Amgen Inc.   7,102,318  
  115,588     Gilead Sciences Inc.   8,854,041  
        Total Biotechnology   15,956,359  
Cosmetics/Personal Care - 2.2%  
  86,710     Kao Corp.   3,329,732  
  204,950     Kenvue Inc.   4,189,178  
  14,417     Procter & Gamble Co.   2,213,298  
  75,990     Unilever PLC   3,620,699  
        Total Cosmetics/Personal Care   13,352,907  
Food - 0.7%  
  150,085     Conagra Brands Inc.   4,245,905  
Healthcare-Products - 1.0%  
  75,599     Medtronic PLC   5,992,733  
Healthcare-Services - 1.4%  
  6,358     Elevance Health Inc.   3,048,597  
  11,483     Humana Inc.   5,567,647  
        Total Healthcare-Services   8,616,244  
Household Products/Wares - 1.1%  
  51,390     Kimberly-Clark Corp.   6,358,485  
Pharmaceuticals - 6.9%  
  38,511     AbbVie Inc.   5,483,581  
  32,391     AstraZeneca PLC   4,144,687  
  59,250     AstraZeneca PLC, ADR   3,826,957  
  20,527     Johnson & Johnson   3,174,706  
  45,075     Merck & Co., Inc.   4,619,286  
  182,690     Pfizer Inc.   5,566,564  
  67,416     Roche Holding AG, ADR(c)   2,271,245  
  107,774     Sanofi SA   10,040,100  
  36,723     UCB SA   2,718,091  
        Total Pharmaceuticals   41,845,217  
        TOTAL CONSUMER NON-CYCLICAL   128,258,508  
ENERGY - 10.0%  
Oil & Gas - 5.7%  
  44,325     Chesapeake Energy Corp.   3,559,741  
  55,750     Chevron Corp.   8,005,700  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Equity Income Fund (continued)

  

Shares/Units   Security Value  
COMMON STOCKS - (continued)  
ENERGY - (continued)  
Oil & Gas - (continued)  
  35,300     ConocoPhillips   $     4,079,621  
  12,325     EOG Resources Inc.   1,516,838  
  10,925     Pioneer Natural Resources Co.   2,530,667  
  168,414     Shell PLC   5,458,675  
  137,155     TotalEnergies SE    9,340,098  
        Total Oil & Gas   34,491,340  
Oil & Gas Services - 0.4%  
  66,452     Baker Hughes Co., Class A Shares    2,242,755  
Pipelines - 3.9%  
  184,925     Enbridge Inc.    6,457,179  
  148,880     Enterprise Products Partners LP    3,987,006  
  130,776     TC Energy Corp.    4,904,702  
  218,750     Williams Cos., Inc.    8,047,813  
        Total Pipelines   23,396,700  
        TOTAL ENERGY   60,130,795  
FINANCIAL - 18.1%  
Banks - 11.0%  
  89,950     Canadian Imperial Bank of Commerce    3,718,914  
  79,516     Fifth Third Bancorp    2,301,988  
  7,525     Goldman Sachs Group Inc.    2,570,088  
  424,290     Huntington Bancshares Inc.    4,777,505  
  47,794     JPMorgan Chase & Co.    7,459,688  
  50,725     Morgan Stanley    4,024,521  
  555,528     Nordea Bank Abp    6,238,465  
  383,056     Oversea-Chinese Banking Corp., Ltd.    3,603,096  
  62,075     PNC Financial Services Group Inc.    8,315,567  
  169,540     Sumitomo Mitsui Trust Holdings Inc.    6,401,263  
  79,425     Truist Financial Corp.    2,552,720  
  152,123     US Bancorp    5,798,929  
  189,366     Wells Fargo & Co.    8,443,830  
        Total Banks   66,206,574  
Diversified Financial Services - 1.2%  
  5,100     CME Group Inc., Class A Shares    1,113,636  
  31,676     Deutsche Boerse AG    6,011,819  
        Total Diversified Financial Services   7,125,455  
Equity Real Estate Investment Trusts (REITs) - 2.1%  
  177,200     Brixmor Property Group Inc.    3,813,344  
  31,570     Lamar Advertising Co., Class A Shares    3,197,725  
  45,562     NNN REIT Inc.    1,850,728  
  15,297     Prologis Inc.    1,758,084  
  26,175     Terreno Realty Corp.    1,494,854  
  27,083     VICI Properties Inc., Class A Shares    809,511  
        Total Equity Real Estate Investment Trusts (REITs)   12,924,246  
Insurance - 3.8%  
  21,614     Allianz SE, Class Registered Shares    5,425,055  
  32,200     American International Group Inc.    2,119,082  
  12,839     Everest Group Ltd.    5,271,051  
  78,504     NN Group NV    2,985,366  
  18,650     Progressive Corp.    3,059,160  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Equity Income Fund (continued)

  

Shares/Units     Security Value  
COMMON STOCKS - (continued)  
FINANCIAL - (continued)  
Insurance - (continued)  
  6,762     Zurich Insurance Group AG   $  3,384,397  
        Total Insurance   22,244,111  
        TOTAL FINANCIAL   108,500,386  
INDUSTRIAL - 10.1%  
Aerospace/Defense - 1.9%  
  22,188     Airbus SE    3,299,279  
  16,624     General Dynamics Corp.    4,105,629  
  9,280     Lockheed Martin Corp.    4,155,306  
        Total Aerospace/Defense   11,560,214  
Building Materials - 1.1%  
  41,100     CRH PLC    2,579,025  
  27,450     Heidelberg Materials AG    2,234,622  
  96,675     MDU Resources Group Inc.    1,850,359  
        Total Building Materials   6,664,006  
Electrical Components & Equipment - 1.7%  
  28,211     Eaton Corp. PLC    6,423,363  
  42,607     Emerson Electric Co.    3,787,762  
        Total Electrical Components & Equipment   10,211,125  
Engineering & Construction - 0.7%  
  118,468     Ferrovial SE    4,102,327  
Hand/Machine Tools - 0.5%  
  32,475     Stanley Black & Decker Inc.    2,951,978  
Machinery-Construction & Mining - 0.6%  
  285,500     Mitsubishi Electric Corp.    3,918,802  
Machinery-Diversified - 0.4%  
  21,385     AGCO Corp.    2,427,839  
Miscellaneous Manufacturers - 0.6%  
  19,807     Siemens AG, Class Registered Shares    3,320,303  
Packaging & Containers - 0.7%  
  444,650     Amcor PLC    4,215,282  
Transportation - 1.9%  
  99,267     Deutsche Post AG    4,649,684  
  4,225     Union Pacific Corp.    951,766  
  36,000     United Parcel Service Inc., Class B Shares    5,457,960  
        Total Transportation   11,059,410  
        TOTAL INDUSTRIAL   60,431,286  
TECHNOLOGY - 5.6%  
Semiconductors - 3.6%  
  7,825     Analog Devices Inc.    1,434,949  
  6,274     Broadcom Inc.    5,808,030  
  77,409     Intel Corp.    3,460,182  
  124,600     MediaTek Inc.    3,754,583  
  15,325     QUALCOMM Inc.    1,977,691  
  72,548     Samsung Electronics Co., Ltd.    3,235,446  
  10,725     Texas Instruments Inc.    1,637,815  
        Total Semiconductors   21,308,696  
Software - 2.0%  
  5,125     Microsoft Corp.    1,941,914  
  47,486     Oracle Corp.    5,518,348  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Equity Income Fund (continued)

  

Shares/Units     Security Value  
COMMON STOCKS - (continued)  
TECHNOLOGY - (continued)  
Software - (continued)  
  40,625     Paychex Inc.   $ 4,955,031  
        Total Software   12,415,293  
        TOTAL TECHNOLOGY   33,723,989  
UTILITIES - 11.3%  
Electric - 11.3%  
  31,250     Ameren Corp.    2,424,687  
  72,320     American Electric Power Co., Inc.    5,753,056  
  117,150     CenterPoint Energy Inc.    3,311,830  
  185,624     Dominion Energy Inc.    8,416,192  
  90,570     Duke Energy Corp.    8,357,800  
  468,572     Enel SpA    3,318,568  
  185,194     Engie SA    3,210,914  
  44,475     Entergy Corp.    4,510,210  
  68,900     Evergy Inc.    3,516,656  
  519,494     National Grid PLC    6,743,597  
  44,850     NextEra Energy Inc.    2,624,173  
  134,325     PPL Corp.    3,508,569  
  35,400     Public Service Enterprise Group Inc.    2,210,022  
  28,050     Sempra    2,044,004  
  105,035     Southern Co.    7,455,384  
        Total Electric   67,405,662  
        TOTAL UTILITIES   67,405,662  
        TOTAL COMMON STOCKS      
        (Cost - $519,891,929)   555,127,076  
EXCHANGE TRADED FUNDS (ETFs) - 4.1%  
  150,936     iShares Core Dividend Growth(b)    7,797,354  
  304,746     JPMorgan Equity Premium Income(b)    16,672,653  
        TOTAL EXCHANGE TRADED FUNDS (ETFs)      
        (Cost - $23,651,702)   24,470,007  
        TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS      
        (Cost - $544,843,631)   580,878,883  
               
Face
Amount†		            
             
SHORT-TERM INVESTMENTS - 1.3%  
EQUITY LINKED NOTE- 0.3%  
    81,050     Merrill Lynch International & Co. CV, 0.120% due 2/20/24(c)      
        (Cost - $1,920,018)  

1,697,369

  
TIME DEPOSITS - 1.0%  
   85 NOK   Brown Brothers Harriman - Grand Cayman, 3.090% due 12/1/23    8  
   716 EUR   Citibank - London, 2.810% due 12/1/23    779  
   1,426,739     Citibank - New York, 4.680% due 12/1/23    1,426,739  
   32 SGD   Hong Kong & Shanghai Bank - Singapore, 2.500% due 12/1/23    24  
   4,802,012     JPMorgan Chase & Co. - New York, 4.680% due 12/1/23    4,802,012  
        TOTAL TIME DEPOSITS      
        (Cost - $6,229,562)   6,229,562  
        TOTAL SHORT-TERM INVESTMENTS      
        (Cost - $8,149,580)   7,926,931  

  

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Equity Income Fund (concluded)

  

Shares/Units     Security Value  
INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING - 0.2%      
MONEY MARKET FUND - 0.2%  
   998,510     Federated Government Obligations Fund, Premier Class, 5.213%(d)      
        (Cost - $998,510)  

$

998,510

  
        TOTAL INVESTMENTS - 98.4%      
        (Cost - $553,991,721)   589,804,324  
        Other Assets in Excess of Liabilities - 1.6%  

9,658,929

  
        TOTAL NET ASSETS - 100.0%   $ 599,463,253  

 

 
†Face amount denominated in U.S. dollars, unless otherwise noted.
(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 November 30, 2023, amounts to $1,281,800 and represents 0.21% of net assets.
(b)All or a portion of this security is on loan.
(c)Illiquid security. The aggregate value of illiquid holdings at November 30, 2023, amounts to $3,968,614 and represents 0.66% of net assets.
(d)Represents investment of collateral received from securities lending transactions.

  

Abbreviations used in this schedule:
ADR — American Depositary Receipts
PLC — Public Limited Company
REIT — Real Estate Investment Trust

 

Summary of Investments by Security Sector^     
Consumer Non-cyclical   21.7%
Financial   18.4 
Utilities   11.7 
Industrial   10.3 
Energy   10.2 
Communications   6.3 
Technology   5.7 
Consumer Cyclical   5.4 
Basic Materials   4.7 
Exchange Traded Funds (ETFs)   4.1 
Short-Term Investments   1.3 
Money Market Fund   0.2 
    100.0%

 

 

^ As a percentage of total investments.

 

Currency Abbreviations used in this schedule:
EUR — Euro
NOK — Norwegian Krone
SGD — Singapore Dollar
 

  

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund

  

Shares/Units     Security Value  
COMMON STOCKS - 93.8%  
Argentina - 0.1%  
  281,990     Despegar.com Corp.*   $ 2,250,280  
Australia - 1.7%  
  8,812     AGL Energy Ltd.    54,955  
  7,629     Allkem Ltd.*    43,874  
  3,939     ALS Ltd.    31,910  
  2,036     Altium Ltd.    60,669  
  44,857     Alumina Ltd.*    21,795  
  26,131     AMP Ltd.    16,263  
  3,563     Ampol Ltd.    80,764  
  2,289     Ansell Ltd.    35,907  
  40,531     ANZ Group Holdings Ltd.    656,227  
  18,113     APA Group    102,195  
  9,237     Aristocrat Leisure Ltd.    248,149  
  2,841     ASX Ltd.    109,134  
  16,685     Atlas Arteria Ltd.    64,088  
  27,152     Aurizon Holdings Ltd.    63,404  
  6,021     Bank of Queensland Ltd.    21,970  
  19,258     Beach Energy Ltd.    18,914  
  7,396     Bendigo & Adelaide Bank Ltd.    43,787  
  68,180     BHP Group Ltd.    2,079,520  
  6,637     BlueScope Steel Ltd.    91,028  
  18,480     Brambles Ltd.    162,976  
  3,614     CAR Group Ltd.    66,428  
  6,245     Challenger Ltd.    24,658  
  76,203     Charter Hall Group     526,968  
  26,198     Cleanaway Waste Management Ltd.    42,517  
  928     Cochlear Ltd.    167,598  
  20,966     Coles Group Ltd.    212,165  
  22,486     Commonwealth Bank of Australia    1,564,162  
  7,413     Computershare Ltd.    115,611  
  476,212     Coronado Global Resources Inc.(a)    514,638  
  6,392     CSL Ltd.    1,108,850  
  122,615     CSR Ltd.    476,233  
  6,567     Deterra Royalties Ltd.    21,484  
  15,946     Dexus    74,490  
  796     Domino's Pizza Enterprises Ltd.    28,235  
  7,731     Downer EDI Ltd.    21,695  
  60,855     Eagers Automotive Ltd.    539,478  
  2,143     EBOS Group Ltd.    48,860  
  22,834     Endeavour Group Ltd.    74,458  
  22,098     Evolution Mining Ltd.    60,196  
  1,724     Flight Centre Travel Group Ltd.    20,909  
  21,960     Fortescue Ltd.    364,151  
  25,450     Goodman Group    383,955  
  33,566     GPT Group    91,733  
  198,731     GrainCorp Ltd., Class A Shares    1,002,782  
  8,196     Harvey Norman Holdings Ltd.    21,302  
  225,521     Helia Group Ltd.    616,906  
  3,920     IDP Education Ltd.    58,787  
  8,504     IGO Ltd.    48,341  
  5,992     Iluka Resources Ltd.    27,414  
  26,689     Incitec Pivot Ltd.    51,742  

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

  

Shares/Units     Security Value  
Australia - 1.7% - (continued)  
  31,197     Insurance Australia Group Ltd.   $  123,080  
  64,360     JB Hi-Fi Ltd.   2,036,399  
  810,490     Johns Lyng Group Ltd.    3,175,412  
  8,802     Lendlease Corp., Ltd.    38,711  
  21,259     Liontown Resources Ltd.*    19,402  
  30,295     Lottery Corp., Ltd    92,198  
  5,109     Macquarie Group Ltd.    569,451  
  3,449     Magellan Financial Group Ltd.    17,014  
  35,588     Medibank Pvt Ltd.    81,675  
  65,163     Megaport Ltd.*    420,448  
  495,043     Metcash Ltd.    1,184,814  
  2,290     Mineral Resources Ltd.    93,573  
  58,233     Mirvac Group    79,617  
  41,910     National Australia Bank Ltd.    791,956  
  6,238     New Hope Corp., Ltd    21,487  
  5,285     NEXTDC Ltd.*    45,595  
  14,970     Northern Star Resources Ltd.    126,865  
  5,540     Orica Ltd.    57,252  
  22,057     Origin Energy Ltd.    120,121  
  21,352     Orora Ltd.    35,762  
  820,213     Perenti Ltd.*    568,243  
  1,508     Perpetual Ltd.    22,527  
  38,374     Pilbara Minerals Ltd.    92,587  
  79,498     Pro Medicus Ltd.    4,652,415  
  6,155     Qantas Airways Ltd.*    21,662  
  19,453     QBE Insurance Group Ltd.    198,827  
  14,883     Qube Holdings Ltd.    28,864  
  1,898     Ramsay Health Care Ltd.    62,296  
  529     REA Group Ltd.    54,356  
  2,963     Reece Ltd.    37,920  
  15,539     Region RE Ltd.    21,348  
  5,035     Rio Tinto Ltd.    415,186  
  42,020     Santos Ltd.    192,013  
  79,736     Scentre Group    140,128  
  3,516     SEEK Ltd.    55,594  
  1,369     Seven Group Holdings Ltd.    29,105  
  2,325     Sims Ltd.    20,755  
  5,263     Sonic Healthcare Ltd.    101,548  
  62,588     South32 Ltd.    127,540  
  51,040     Star Entertainment Grp Ltd.*    17,775  
  5,625     Steadfast Group Ltd.    21,123  
  33,921     Stockland    92,980  
  16,172     Suncorp Group Ltd.    149,399  
  64,874     Super Retail Group Ltd.    597,696  
  33,572     Tabcorp Holdings Ltd.    15,942  
  54,717     Telstra Group Ltd.    138,229  
  5,739     TPG Telecom Ltd.    17,872  
  41,318     Transurban Group    354,248  
  11,157     Treasury Wine Estates Ltd.    78,960  
  51,547     Vicinity Ltd.    64,812  
  4,244     Washington H Soul Pattinson & Co., Ltd.    94,403  
  15,425     Wesfarmers Ltd.    537,978  
  46,962     Westpac Banking Corp.    667,032  
  444,100     Whitehaven Coal Ltd.    2,093,333  

 

 

 

  

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
Australia - 1.7% - (continued)  
  2,486     WiseTech Global Ltd.   $  108,928  
  381,831     Woodside Energy Group Ltd.    7,790,361  
  17,704     Woolworths Group Ltd.    408,454  
  4,724     Worley Ltd.   52,846  
        Total Australia   41,660,392  
Austria - 0.1%  
  666     ANDRITZ AG    36,238  
  3,843     Erste Group Bank AG    155,393  
  1,831     OMV AG    78,000  
  100,957     Raiffeisen Bank International AG    1,682,817  
  902     Verbund AG    85,983  
  1,755     voestalpine AG    49,381  
        Total Austria   2,087,812  
Belgium - 0.1%  
  486     Ackermans & van Haaren NV    80,318  
  2,591     Ageas SA    111,445  
  11,066     Anheuser-Busch InBev SA    696,015  
  292     D'ieteren Group    49,903  
  607     Elia Group SA    65,751  
  1,954     Groupe Bruxelles Lambert NV    155,099  
  3,310     KBC Group NV    189,724  
  4     Lotus Bakeries NV    34,851  
  123,426     Proximus SADP    1,188,008  
  293     Sofina SA    65,221  
  1,091     Solvay SA    126,187  
  1,822     UCB SA    134,857  
  3,302     Umicore SA    88,285  
  2,198     Warehouses De Pauw CVA    61,787  
        Total Belgium   3,047,451  
Bermuda - 0.1%  
  164,589     Hiscox Ltd.    2,116,408  
Brazil - 2.1%  
  56,726     Afya Ltd., Class A Shares*    1,160,614  
  89,500     Allos SA    465,143  
  151,700     Auren Energia SA    452,762  
  669,686     B3 SA - Brasil Bolsa Balcao    1,809,613  
  192,700     Bradespar SA    955,288  
  233,200     Compania de Saneamento de Minas Gerais Copasa MG    885,525  
  104,300     Compania de Saneamento do Parana    555,834  
  133,600     Fleury SA    466,058  
  953,546     Inter & Co., Inc.*    5,009,945  
  3,912     Localiza Rent a Car SA*    44,907  
  490,126     Localiza Rent a Car SA    5,978,761  
  1,683,453     Lojas Renner SA    5,599,026  
  458,708     Metalurgica Gerdau SA    958,059  
  170,004     NU Holdings Ltd., Class A Shares*    1,383,833  
  226,720     Petroleo Brasileiro SA, ADR    3,298,776  
  122,500     Petroreconcavo SA    492,792  
  369,512     Raia Drogasil SA    2,108,087  
  29,479     StoneCo Ltd., Class A Shares*    459,872  
  550,818     Suzano SA    6,018,548  
  1,026,900     TOTVS SA    6,949,692  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

  

Shares/Units     Security Value  
Brazil - 2.1% - (continued)  
  228,780     XP Inc., Class A Shares   $  5,328,286  
        Total Brazil   50,381,421  
Cambodia - 0.0%  
  42,000     NagaCorp Ltd.*    20,270  
Canada - 5.2%  
  320,708     AGF Management Ltd., Class B Shares    1,715,926  
  76,625     Agnico Eagle Mines Ltd.   4,113,886  
  10,700     Alimentation Couche-Tard Inc.    610,347  
  9,426     Bank of Montreal    773,725  
  15,700     Bank of Nova Scotia    702,329  
  23,600     Barrick Gold Corp.    414,639  
  294,761     Baytex Energy Corp.    1,136,119  
  3,800     BCE Inc.    149,631  
  3,900     Brookfield Asset Management Ltd., Class A Shares    136,553  
  20,500     Brookfield Corp.    723,067  
  11,200     Canadian Imperial Bank of Commerce    463,056  
  48,322     Canadian National Railway Co.    5,603,715  
  14,000     Canadian Natural Resources Ltd.    934,881  
  68,426     Canadian Pacific Kansas City Ltd.    4,926,608  
  600     Canadian Tire Corp., Ltd, Class A Shares    62,414  
  60,886     Celestica Inc.*    1,640,498  
  18,000     Cenovus Energy Inc.    319,301  
  2,800     CGI Inc.*    284,705  
  2,396     Constellation Software Inc.    5,628,101  
  44,637     Definity Financial Corp.    1,216,177  
  23,170     Descartes Systems Group Inc.*    1,877,697  
  3,500     Dollarama Inc.    254,201  
  164,555     Element Fleet Management Corp.    2,651,022  
  595,600     Enbridge Inc.    20,797,058  
  42,000     Enerplus Corp.    667,035  
  45,785     EQB Inc.    2,577,916  
  282     Fairfax Financial Holdings Ltd.(b)    259,216  
  24,949     Finning International Inc.    634,527  
  6,400     Fortis Inc.    256,396  
  98,776     Franco-Nevada Corp.    11,063,436  
  1,300     George Weston Ltd.    152,476  
  3,700     Great-West Lifeco Inc.    118,262  
  3,900     Hydro One Ltd.(a)    108,415  
  1,700     IGM Financial Inc.    42,209  
  2,200     Imperial Oil Ltd.    123,952  
  2,300     Intact Financial Corp.    356,467  
  2,500     Loblaw Cos., Ltd.    215,565  
  3,700     Magna International Inc.    199,493  
  25,800     Manulife Financial Corp.    505,390  
  4,100     Metro Inc.    205,499  
  47,659     National Bank of Canada    3,158,300  
  6,700     Nutrien Ltd.    358,380  
  102,020     Parex Resources Inc.    2,092,429  
  7,400     Pembina Pipeline Corp.    247,539  
  6,800     Power Corp. of Canada    188,179  
  4,100     Restaurant Brands International Inc.    291,614  
  18,611     Royal Bank of Canada    1,681,834  
  63,568     Russel Metals Inc.    1,793,340  
  4,000     Saputo Inc.    77,766  

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

  

Shares/Units     Security Value  
Canada - 5.2% - (continued)  
  62,749     Shopify Inc., Class A Shares*   $  4,569,833  
  7,500     Stella-Jones Inc.    431,793  
  7,900     Sun Life Financial Inc.    398,930  
  578,729     Suncor Energy Inc.(c)    19,081,978  
  13,400     TC Energy Corp.    502,562  
  6,000     Teck Resources Ltd., Class B Shares    226,045  
  27,734     TECSYS Inc.(c)    693,299  
  5,900     TELUS Corp.    105,573  
  2,100     Thomson Reuters Corp.    293,403  
  257,628     TMX Group Ltd.   5,563,048  
  24,100     Toronto-Dominion Bank    1,469,551  
  3,500     Tourmaline Oil Corp.    169,416  
  54,131     Vermilion Energy Inc.    683,768  
  30,781     Waste Connections Inc.    4,170,376  
  92,466     Wheaton Precious Metals Corp.    4,521,423  
  158,339     Whitecap Resources Inc.    1,094,568  
        Total Canada   128,486,857  
Chile - 0.0%  
  5,118     Antofagasta PLC    91,203  
China - 3.0%  
  12,000     AAC Technologies Holdings Inc.    33,655  
  112,111     Alibaba Group Holding Ltd., ADR*    8,394,872  
  17,578     Baidu Inc., ADR*    2,085,805  
  871,710     China Mengniu Dairy Co., Ltd.*    2,728,247  
  339,644     Estun Automation Co., Ltd., Class A Shares    912,084  
  465,353     FinVolution Group, ADR    2,061,514  
  282,083     Full Truck Alliance Co., Ltd., ADR*    2,112,802  
  271,089     Glodon Co., Ltd., Class A Shares    743,581  
  285,450     JD Health International Inc.*(a)    1,361,217  
  179,192     Jiangsu Hengli Hydraulic Co., Ltd., Class A Shares    1,412,391  
  82,147     Kanzhun Ltd., ADR*    1,357,890  
  21,030     KE Holdings Inc., ADR    335,008  
  3,535,249     Kingdee International Software Group Co., Ltd.*    4,925,047  
  380,802     Kingsoft Corp., Ltd.    1,213,836  
  48,117     Kweichow Moutai Co., Ltd., Class A Shares    12,076,163  
  128,000     Lenovo Group Ltd.    157,752  
  469,453     Lufax Holding Ltd., ADR    398,519  
  187,072     Midea Group Co., Ltd., Class A Shares    1,353,274  
  1,427,315     NARI Technology Co., Ltd., Class A Shares    4,399,592  
  349,700     Shandong Pharmaceutical Glass Co., Ltd., Class A Shares    1,290,334  
  276,900     Shenzhen Inovance Technology Co., Ltd., Class A Shares    2,559,634  
  20,280     Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Class A Shares    825,537  
  313,719     Shenzhou International Group Holdings Ltd.    3,150,206  
  113,000     Silergy Corp.    1,532,723  
  195,970     Tencent Holdings Ltd.    8,148,620  
  23,972     Tencent Holdings Ltd., ADR(b)(c)    997,715  
  285,648     Venustech Group Inc., Class A Shares    1,024,883  
  138,000     WH Group Ltd.(a)    88,448  
  120,501     Yum China Holdings Inc.    5,187,853  
  97,177     Yunnan Baiyao Group Co., Ltd., Class A Shares    684,654  
  40,809     Zai Lab Ltd., ADR*    1,113,678  
        Total China   74,667,534  

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

  

Shares/Units     Security Value  
Cyprus - 0.0%  
  16,006     TCS Group Holding PLC, GDR*(b)@   $  2  
Denmark - 0.9%  
  37     AP Moller - Maersk AS, Class A Shares    57,360  
  67     AP Moller - Maersk AS, Class B Shares       105,729  
  1,289     Carlsberg AS, Class B Shares    159,833  
  1,509     Chr Hansen Holding AS    120,701  
  1,713     Coloplast AS, Class B Shares    202,241  
  18,415     D/S Norden AS    836,219  
  8,454     Danske Bank AS    218,837  
  1,540     Demant AS*    65,426  
  2,410     DSV AS    363,569  
  9,333     Genmab AS*    2,951,571  
  4,982     H Lundbeck AS   23,789  
  27,368     Jyske Bank AS, Class Registered Shares*    1,896,163  
  58,640     Novo Nordisk AS, ADR    5,971,898  
  41,677     Novo Nordisk AS, Class B Shares    4,242,729  
  55,691     Novozymes AS, Class B Shares(c)    2,892,170  
  2,629     Orsted AS(a)    124,143  
  1,170     Pandora AS    158,044  
  154     ROCKWOOL AS, Class B Shares    41,630  
  12,361     Royal Unibrew AS    798,977  
  36,289     Sydbank AS    1,594,974  
  5,348     Tryg AS    115,399  
  13,683     Vestas Wind Systems AS*    378,693  
        Total Denmark   23,320,095  
Finland - 0.8%  
  1,921     Elisa OYJ    86,027  
  5,622     Fortum OYJ    79,061  
  4,517     Kesko OYJ, Class B Shares    86,471  
  4,102     Kone OYJ, Class B Shares    182,733  
  5,194     Mandatum OYJ*    22,227  
  8,613     Metso OYJ    84,853  
  5,409     Neste OYJ    206,217  
  67,227     Nokia OYJ    235,914  
  45,415     Nordea Bank Abp    510,001  
  1,294     Orion OYJ, Class B Shares    51,362  
  287,418     Outokumpu OYJ    1,353,623  
  6,265     Sampo OYJ, Class A Shares    274,349  
  661,160     Stora Enso OYJ, Class R Shares    8,586,146  
  69,586     Talenom OYJ(c)    400,967  
  7,108     UPM-Kymmene OYJ    248,430  
  236,642     Valmet OYJ    6,315,083  
  6,534     Wartsila OYJ Abp    90,236  
        Total Finland   18,813,700  
France - 6.9%  
  209,948     Accor SA    7,288,818  
  391     Aeroports de Paris SA    48,237  
  6,973     Air Liquide SA    1,319,541  
  7,851     Airbus SE    1,167,417  
  3,273     ALD SA(a)    22,580  
  3,315     Alstom SA    41,153  
  1,032     Amundi SA(a)    63,571  
  116,390     Arkema SA    11,830,197  
  24,039     AXA SA    748,982  

 

 

 

  

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
France - 6.9% - (continued)  
  692     BioMerieux   $  74,464  
  14,094     BNP Paribas SA    887,642  
  12,297     Bollore SE    70,270  
  2,884     Bouygues SA    109,678  
  2,935     Bureau Veritas SA    71,114  
  45,998     Capgemini SE    9,423,207  
  7,250     Carrefour SA    137,309  
  14     Cie de L'Odet SE    20,921  
  6,615     Cie de Saint-Gobain SA    431,156  
  522,838     Cie Generale des Etablissements Michelin SCA    17,548,174  
  920     Covivio SA    44,962  
  13,644     Credit Agricole SA    178,720  
  8,340     Danone SA    535,628  
  19,405     Dassault Aviation SA    3,859,658  
  81,336     Dassault Systemes SE   3,816,271  
  3,294     Edenred SE    179,107  
  909     Eiffage SA    92,119  
  21,082     Engie SA    365,522  
  6,685     Esker SA    1,074,469  
  33,400     EssilorLuxottica SA    6,382,008  
  693     Eurazeo SE    52,110  
  826     Gecina SA    91,472  
  4,131     Getlink SE    75,495  
  463     Hermes International SCA    961,898  
  467     Ipsen SA    52,734  
  1,226     JCDecaux SE*    23,350  
  5,390     Kering SA    2,322,512  
  2,693     Klepierre SA    67,981  
  1,435     La Francaise des Jeux SAEM(a)    51,974  
  118,838     Legrand SA    11,462,415  
  10,804     L'Oreal SA    5,082,476  
  18,642     LVMH Moet Hennessy Louis Vuitton SE    13,836,280  
  712     Neoen SA(a)    21,750  
  25,621     Orange SA    315,664  
  57,614     Pernod Ricard SA    9,954,127  
  2,933     Publicis Groupe SA    248,891  
  304     Remy Cointreau SA    36,215  
  2,282     Renault SA    89,527  
  2,933     Rexel SA    70,746  
  31,126     Safran SA    5,480,592  
  14,594     Sanofi SA    1,359,560  
  10,120     Sartorius Stedim Biotech    2,277,621  
  89,384     Schneider Electric SE    16,466,057  
  1,690     SCOR SE    53,401  
  301     SEB SA    34,306  
  9,288     Societe Generale SA    233,610  
  1,224     Sodexo SA    131,160  
  319     SOITEC*    58,047  
  8,852     STMicroelectronics NV    421,415  
  728     Teleperformance SE    103,198  
  93,840     Thales SA    13,995,225  
  223,521     TotalEnergies SE    15,221,523  
  1,482     Ubisoft Entertainment SA*    42,132  
  1,478     Unibail-Rodamco-Westfield*    94,145  

 

 

 

  

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
France - 6.9% - (continued)  
  2,574     Valeo SE   $  37,274  
  8,563     Veolia Environnement SA    270,412  
  6,761     Vinci SA    827,820  
  8,493     Vivendi SE    80,360  
  268     Wendel SE    22,682  
  3,400     Worldline SA*(a)     52,511  
        Total France   169,913,563  
Germany - 6.9%  
  5,557     Adesso SE    591,993  
  19,378     adidas AG    4,050,367  
  5,401     Allianz SE, Class Registered Shares    1,355,636  
  13,039     Atoss Software AG    3,053,578  
  319,586     BASF SE    14,842,757  
  80,442     Bayer AG, Class Registered Shares    2,744,288  
  4,853     Bayerische Motoren Werke AG    497,737  
  1,019     Bechtle AG    50,390  
  32,412     Beiersdorf AG   4,542,965  
  2,073     Brenntag SE    179,021  
  629     Carl Zeiss Meditec AG    56,379  
  13,387     Commerzbank AG    163,804  
  162,783     Continental AG    12,564,739  
  2,544     Covestro AG*(a)    133,551  
  710     CTS Eventim AG & Co. KGaA    48,480  
  60,140     Daimler Truck Holding AG    1,951,981  
  2,454     Delivery Hero SE*(a)    77,787  
  28,014     Deutsche Bank AG    348,634  
  66,839     Deutsche Boerse AG    12,685,439  
  4,335     Deutsche Lufthansa AG*    37,687  
  254,314     Deutsche Post AG    11,912,113  
  319,206     Deutsche Telekom AG, Class Registered Shares    7,638,690  
  1,070     Deutsche Wohnen SE    26,048  
  1,114     DWS Group GmbH & Co. KGaA(a)    37,821  
  28,238     E.ON SE    366,827  
  18,553     Elmos Semiconductor SE    1,598,217  
  3,721     Evonik Industries AG    69,397  
  150,890     Evotec SE*    3,053,474  
  460     Fielmann Group AG    24,172  
  389     Fraport AG Frankfurt Airport Services Worldwide*    22,173  
  2,587     Fresenius Medical Care AG & Co. KGaA    106,006  
  5,351     Fresenius SE & Co. KGaA    169,430  
  1,416     FUCHS SE    54,554  
  95,865     GEA Group AG    3,521,553  
  834     Hannover Rueck SE    198,748  
  1,830     Heidelberg Materials AG    148,975  
  519     Hella GmbH & Co. KGaA    45,084  
  2,196     HelloFresh SE*    33,577  
  224,771     Henkel AG & Co. KGaA    17,643,034  
  5,486     HOCHTIEF AG    592,288  
  54,998     Infineon Technologies AG    2,129,508  
  815     KION Group AG    29,552  
  43,437     Knorr-Bremse AG    2,721,699  
  22,695     LEG Immobilien SE*    1,733,205  
  26,114     Mensch und Maschine Software SE    1,509,425  
  11,322     Mercedes-Benz Group AG    734,410  

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

  

Shares/Units     Security Value  
Germany - 6.9% - (continued)  
  11,256     Merck KGaA   $  1,963,111  
  697     MTU Aero Engines AG    142,516  
  1,848     Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Class Registered Shares    786,145  
  5,309     Nagarro SE*(c)    482,396  
  624     Nemetschek SE    54,355  
  51,147     Nexus AG    2,984,726  
  52,990     Puma SE    3,408,655  
  54     Rational AG    34,592  
  33,497     Rheinmetall AG    10,071,399  
  9,639     RWE AG    413,003  
  94,565     SAP SE    14,950,440  
  8,690     Sartorius AG    2,795,472  
  42,008     Schott Pharma AG & Co. KGaA*    1,309,119  
  740     Scout24 SE(a)    51,408  
  10,003     Siemens AG, Class Registered Shares    1,676,831  
  6,051     Siemens Energy AG*    71,723  
  3,679     Siemens Healthineers AG(a)    212,229  
  529     Sixt SE    42,715  
  30,785     Suedzucker AG    471,190  
  31,716     Symrise AG, Class A Shares   3,562,143  
  84,882     TAG Immobilien AG*    1,160,688  
  647     Talanx AG    46,914  
  11,237     Telefonica Deutschland Holding AG    28,746  
  7,041     thyssenkrupp AG    53,000  
  959     Traton SE    20,654  
  3,050     Volkswagen AG    362,024  
  117,245     Vonovia SE    3,258,595  
  205     Wacker Chemie AG    25,052  
  32,088     Wuestenrot & Wuerttembergische AG    457,583  
  60,098     Zalando SE*(a)    1,431,139  
        Total Germany   168,425,756  
Greece - 0.1%  
  179,926     Sarantis SA    1,533,604  
Hong Kong - 2.9%  
  2,318,815     AIA Group Ltd.    19,884,510  
  3,600     ASMPT Ltd.    36,846  
  6,347,000     BOC Hong Kong Holdings Ltd.    17,032,033  
  747,971     Budweiser Brewing Co. APAC Ltd.(a)    1,326,052  
  24,000     Cathay Pacific Airways Ltd.*    24,235  
  19,600     Chow Tai Fook Jewellery Group Ltd.    28,383  
  29,500     CK Asset Holdings Ltd.    140,298  
  2,355,500     CK Hutchison Holdings Ltd.    11,828,718  
  7,000     CK Infrastructure Holdings Ltd.    34,680  
  1,529,000     CLP Holdings Ltd.    11,893,271  
  7,500     DFI Retail Group Holdings Ltd.    16,662  
  31,400     ESR Group Ltd.(a)    40,402  
  50,000     First Pacific Co., Ltd.    19,808  
  223,908     Galaxy Entertainment Group Ltd.    1,159,612  
  15,000     Hang Lung Group Ltd.    20,140  
  24,000     Hang Lung Properties Ltd.    32,247  
  8,300     Hang Seng Bank Ltd.    92,305  
  23,000     Henderson Land Development Co., Ltd.    62,499  
  147,000     Hong Kong & China Gas Co., Ltd.    101,056  
  86,100     Hong Kong Exchanges & Clearing Ltd.    3,065,363  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

  

Shares/Units     Security Value  
Hong Kong - 2.9% - (continued)  
  14,900     Hongkong Land Holdings Ltd.   $  48,016  
  6,000     HUTCHMED China Ltd.*    23,229  
  10,000     Hysan Development Co., Ltd.    18,771  
  2,500     Jardine Matheson Holdings Ltd.    96,598  
  542,500     Kerry Properties Ltd.    914,544  
  34,800     Link REIT    172,474  
  28,400     Man Wah Holdings Ltd.    19,040  
  26,500     MTR Corp., Ltd    94,989  
  21,000     New World Development Co., Ltd.    31,349  
  18,000     NWS Holdings Ltd.    16,431  
  1,500     Orient Overseas International Ltd.    18,041  
  51,000     PCCW Ltd.    25,855  
  16,000     Power Assets Holdings Ltd.    83,475  
  37,241     Prudential PLC    407,749  
  46,000     Sino Land Co., Ltd.    46,383  
  12,000     SITC International Holdings Co., Ltd.    18,151  
  20,000     Sun Hung Kai Properties Ltd.    196,595  
  5,500     Swire Pacific Ltd., Class A Shares    35,731  
  50,000     Swire Pacific Ltd., Class B Shares    53,315  
  22,400     Swire Properties Ltd.     43,627  
  128,914     Techtronic Industries Co., Ltd.    1,317,042  
  136,000     United Energy Group Ltd.   12,879  
  16,000     Vitasoy International Holdings Ltd.    17,423  
  13,000     Wharf Holdings Ltd.    33,784  
  20,000     Wharf Real Estate Investment Co., Ltd.    63,174  
  28,000     Xinyi Glass Holdings Ltd.    32,327  
  17,500     Yue Yuen Industrial Holdings Ltd.    20,059  
        Total Hong Kong   70,700,171  
India - 6.6%  
  116,600     Aarti Industries Ltd.    775,760  
  40,992     Aarti Pharmalabs Ltd.*    202,103  
  104,965     Aavas Financiers Ltd.*    1,816,765  
  15,141     ASK Automotive Ltd.*    53,531  
  431,195     Axis Bank Ltd.    5,554,139  
  127,146     Bajaj Finance Ltd.    10,883,988  
  218,306     Berger Paints India Ltd.    1,504,614  
  253,009     Bharti Airtel Ltd.    2,818,043  
  109,756     Birlasoft Ltd.    831,101  
  237,590     Cello World Ltd.*    2,288,339  
  576,276     CESC Ltd.    672,133  
  68,944     Chennai Petroleum Corp., Ltd    557,395  
  380,655     Cholamandalam Investment & Finance Co., Ltd.    5,108,743  
  21,756     Divi's Laboratories Ltd.    986,477  
  22,006     Dixon Technologies India Ltd.    1,455,828  
  58,010     Dr Lal PathLabs Ltd.(a)     1,876,304  
  714,073     Edelweiss Financial Services Ltd.    649,731  
  71,289     Elecon Engineering Co., Ltd.    803,663  
  270,635     Elgi Equipments Ltd.    1,727,207  
  13,789     Escorts Kubota Ltd.    522,466  
  31,864     GMM Pfaudler Ltd.    569,824  
  155,957     Godrej Consumer Products Ltd.    1,892,895  
  66,472     Godrej Properties Ltd.*    1,498,679  
  59,913     Gujarat Narmada Valley Fertilizers & Chemicals Ltd.    492,321  
  641,782     HDFC Bank Ltd.    12,019,101  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

  

Shares/Units     Security Value  
India - 6.6% - (continued)  
  75,061     HDFC Bank Ltd., ADR   $  4,506,662  
  330,892     HDFC Life Insurance Co., Ltd.(a)    2,754,104  
  187,992     Hindustan Unilever Ltd.    5,731,049  
  617,320     Honasa Consumer Ltd.*    3,041,698  
  334,826     ICICI Bank Ltd., ADR    7,423,092  
  35,362     Info Edge India Ltd.    1,951,798  
  331,436     Jio Financial Services Ltd.*    917,380  
  1,319,532     JM Financial Ltd.    1,328,383  
  71,113     JSW Infrastructure Ltd.*    179,610  
  154,873     Jubilant Foodworks Ltd.    1,042,228  
  209,533     KPIT Technologies Ltd.    3,754,256  
  109,912     Larsen & Toubro Ltd.    4,113,425  
  137,342     LIC Housing Finance Ltd.*    807,341  
  44,656     Mahindra & Mahindra Ltd.    881,238  
  51,515     Maruti Suzuki India Ltd.    6,564,828  
  156,897     Max Financial Services Ltd.*    1,920,200  
  105,216     Max Healthcare Institute Ltd.    783,993  
  64,589     Mold-Tek Packaging Ltd.    673,001  
  49,849     Muthoot Finance Ltd.    885,324  
  428,927     NCC Ltd.    860,593  
  330,116     Nippon Life India Asset Management Ltd.(a)    1,659,598  
  1,863,499     NTPC Ltd.    5,835,260  
  11,405     Nuvama Wealth Management Ltd.*    429,621  
  30,425     Oberoi Realty Ltd.   520,569  
  915,037     Power Finance Corp., Ltd.    3,714,115  
  263,768     Redington Ltd.    509,440  
  101,986     Reliance Industries Ltd.    2,909,276  
  124,996     SBI Life Insurance Co., Ltd.(a)    2,150,559  
  30,214     SRF Ltd.    860,433  
  1,038,491     Star Health & Allied Insurance Co., Ltd.*    7,184,535  
  27,794     Supreme Industries Ltd.    1,486,597  
  114,882     Tata Communications Ltd.    2,338,766  
  19,660     Tata Consultancy Services Ltd.    824,046  
  131,673     Tata Consumer Products Ltd.    1,482,434  
  300,000     Tata Technologies Ltd.*(b)    4,723,985  
  229,907     Titan Co., Ltd.    9,606,811  
  43,116     Trent Ltd.    1,436,830  
  127,220     Varun Beverages Ltd.    1,701,902  
  388,986     Vijaya Diagnostic Centre Pvt Ltd.    2,962,497  
  1,935,187     Zomato Ltd.*    2,732,698  
        Total India   162,751,325  
Indonesia - 0.6%  
  16,994,000     Bank Central Asia Tbk PT    9,845,619  
  7,649,129     Bank Rakyat Indonesia Persero Tbk PT    2,608,678  
  654,900     Indo Tambangraya Megah Tbk PT    1,037,150  
  24,752,100     Sarana Menara Nusantara Tbk PT    1,595,859  
        Total Indonesia   15,087,306  
Ireland - 1.7%  
  2,004,682     AIB Group PLC    9,307,116  
  625,184     Bank of Ireland Group PLC    5,849,977  
  117,294     CRH PLC    7,360,198  
  9,854     CRH PLC,GBP    621,518  
  1,381     DCC PLC    93,209  
  224,700     Experian PLC    8,245,131  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

  

Shares/Units     Security Value  
Ireland - 1.7% - (continued)  
  2,407     Flutter Entertainment PLC*   $  376,927  
  3,222     Glanbia PLC    54,344  
  5,719     James Hardie Industries PLC*    183,287  
  2,081     Kerry Group PLC, Class A Shares    168,694  
  2,137     Kingspan Group PLC    169,641  
  26,491     PDD Holdings Inc., ADR*    3,905,833  
  35,987     Ryanair Holdings PLC, ADR*    4,254,383  
  4,107     Smurfit Kappa Group PLC    155,997  
        Total Ireland   40,746,255  
Israel - 0.2%  
  1,281     Airport City Ltd.*    20,121  
  4,825     Amot Investments Ltd.    24,613  
  384     Azrieli Group Ltd.    22,324  
  17,490     Bank Hapoalim BM    148,149  
  20,375     Bank Leumi Le-Israel BM    152,809  
  362,160     Bezeq The Israeli Telecommunication Corp., Ltd.    469,698  
  242     Big Shopping Centers Ltd.*    21,706  
  133     Delek Group Ltd.    17,198  
  347     Elbit Systems Ltd.    69,151  
  51     Electra Ltd.    19,409  
  6,484     Energix-Renewable Energies Ltd.    20,556  
  1,252     Enlight Renewable Energy Ltd.*    21,645  
  201     Fattal Holdings 1998 Ltd.*    20,656  
  468     First International Bank Of Israel Ltd.    18,782  
  2,529     Harel Insurance Investments & Financial Services Ltd.    18,901  
  11,353     ICL Group Ltd.   57,178  
  77     Israel Corp., Ltd*    19,304  
  15,480     Israel Discount Bank Ltd., Class A Shares    74,744  
  451     Melisron Ltd.    31,437  
  10,360     Mivne Real Estate KD Ltd.    27,319  
  1,713     Mizrahi Tefahot Bank Ltd.    61,133  
  38,146     Nayax Ltd.*    750,545  
  834     Nice Ltd.*    158,978  
  7,036     Nice Ltd., ADR*    1,335,081  
  392     Nova Ltd.*    49,861  
  3,103     OPC Energy Ltd.*    18,992  
  2,129     Phoenix Holdings Ltd.    20,381  
  19,489     Rami Levy Chain Stores Hashikma Marketing 2006 Ltd.    1,101,450  
  3,042     Shapir Engineering & Industry Ltd.    18,194  
  270     Strauss Group Ltd.*    5,176  
  14,777     Teva Pharmaceutical Industries Ltd.*    144,888  
  1,588     Tower Semiconductor Ltd.*    43,724  
        Total Israel   4,984,103  
Italy - 2.0%  
  15,625     A2A SpA    33,651  
  33,597     Amplifon SpA    1,047,436  
  19,091     Assicurazioni Generali SpA    395,791  
  329,848     Azimut Holding SpA    8,021,888  
  290,882     Banca Mediolanum SpA    2,594,946  
  249,651     Banca Monte dei Paschi di Siena SpA*    852,630  
  326,084     Banco BPM SpA    1,803,598  
  926,988     BPER Banca    3,466,044  
  19,075     Buzzi SpA    556,902  
  5,024     Davide Campari-Milano NV    54,905  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

  

Shares/Units     Security Value  
Italy - 2.0% - (continued)  
  28,179     DiaSorin SpA   $  2,674,569  
  26,895     Digital Value SpA    1,635,102  
  2,235,725     Enel SpA    15,834,077  
  31,085     Eni SpA    514,105  
  130,436     Ermenegildo Zegna NV    1,496,101  
  1,595     Ferrari NV    574,536  
  7,998     FinecoBank Banca Fineco SpA    107,790  
  42,525     Gruppo MutuiOnline SpA    1,306,488  
  9,413     Hera SpA    29,723  
  5,394     Infrastrutture Wireless Italiane SpA(a)    66,654  
  1,037     Interpump Group SpA    48,323  
  211,263     Intesa Sanpaolo SpA    608,099  
  9,240     Italgas SpA    51,579  
  178,365     Iveco Group NV*    1,449,534  
  5,661     Leonardo SpA    86,768  
  8,538     Mediobanca Banca di Credito Finanziario SpA    100,211  
  2,701     Moncler SpA    150,189  
  6,382     Nexi SpA*(a)    49,869  
  6,566     Pirelli & C SpA(a)    32,652  
  6,921     Poste Italiane SpA(a)    74,629  
  5,100     PRADA SpA    28,055  
  3,948     Prysmian SpA    152,637  
  1,219     Recordati Industria Chimica e Farmaceutica SpA    58,780  
  386     Reply SpA    45,084  
  31,446     Snam SpA    158,612  
  215,843     Telecom Italia SpA*    63,247  
  20,240     Terna - Rete Elettrica Nazionale    163,052  
  23,472     UniCredit SpA   639,110  
  384,978     Unipol Gruppo SpA    2,208,320  
  13,240     UnipolSai Assicurazioni SpA    32,727  
        Total Italy   49,268,413  
Japan - 15.5%  
  1,200     ABC-Mart Inc.    19,776  
  8,500     Acom Co., Ltd.    20,152  
  8     Activia Properties Inc.    21,950  
  49,100     Adastria Co., Ltd.    1,263,161  
  15     Advance Residence Investment Corp.    32,901  
  9,700     Advantest Corp.    303,553  
  11,200     Aeon Co., Ltd.    231,532  
  2,300     AEON Financial Service Co., Ltd.    19,677  
  21     AEON REIT Investment Corp.    20,377  
  2,700     AGC Inc.    97,960  
  700     Ain Holdings Inc.    21,285  
  2,000     Air Water Inc.    26,218  
  2,400     Aisin Corp.    88,514  
  6,500     Ajinomoto Co., Inc.    241,628  
  33,700     Alfresa Holdings Corp.    541,058  
  2,500     Alps Alpine Co., Ltd.    21,892  
  75,200     Amada Co., Ltd.    753,612  
  1,500     ANA Holdings Inc.*    30,917  
  1,900     Aozora Bank Ltd.    39,007  
  600     Ariake Japan Co., Ltd.    18,756  
  389,800     Asahi Group Holdings Ltd.    14,360,256  
  2,800     Asahi Intecc Co., Ltd.    54,865  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
Japan - 15.5% - (continued)  
  16,700     Asahi Kasei Corp.   $  115,803  
  2,200     Asics Corp.    79,097  
  24,700     Astellas Pharma Inc.    301,951  
  189,522     Avant Group Corp.    1,906,417  
  1,500     Azbil Corp.    48,425  
  127,881     AZ-COM MARUWA Holdings Inc.    1,301,641  
  17,556     AZOOM Co., Ltd.(c)    905,369  
  8,100     Bandai Namco Holdings Inc.    161,125  
  1,600     BayCurrent Consulting Inc.    53,858  
  1,600     Benesse Holdings Inc.    28,178  
  2,700     Bic Camera Inc.    22,263  
  19,900     BIPROGY Inc.    574,752  
  8,200     Bridgestone Corp.    337,923  
  4,700     Brother Industries Ltd.    79,305  
  103,700     Calbee Inc.    1,937,664  
  14,100     Canon Inc.    362,541  
  800     Canon Marketing Japan Inc.    20,173  
  2,700     Capcom Co., Ltd.    90,878  
  2,500     Casio Computer Co., Ltd.    21,041  
  14,200     Central Japan Railway Co.    340,261  
  439,700     Chiba Bank Ltd.    3,287,452  
  8,900     Chubu Electric Power Co., Inc.    109,854  
  150,100     Chugai Pharmaceutical Co., Ltd.    5,344,844  
  3,800     Chugoku Electric Power Co., Inc.    24,996  
  1,500     Coca-Cola Bottlers Japan Holdings Inc.    20,507  
  1,000     COMSYS Holdings Corp.    21,667  
  15,500     Concordia Financial Group Ltd.    72,674  
  1,400     Cosmo Energy Holdings Co., Ltd.    53,354  
  300     Cosmos Pharmaceutical Corp.    31,689  
  135,300     Credit Saison Co., Ltd.   2,268,713  
  4,000     CyberAgent Inc.    24,193  
  3,200     Dai Nippon Printing Co., Ltd.    89,833  
  56,400     Daicel Corp.    541,587  
  17,800     Daido Steel Co., Ltd.    821,531  
  3,100     Daifuku Co., Ltd.    58,571  
  12,400     Dai-ichi Life Holdings Inc.    257,908  
  117,700     Daiichi Sankyo Co., Ltd.    3,189,334  
  17,300     Daikin Industries Ltd.    2,592,110  
  900     Daito Trust Construction Co., Ltd.    99,095  
  9,400     Daiwa House Industry Co., Ltd.    266,739  
  28     Daiwa House REIT Investment Corp., Class A Shares    49,805  
  19,400     Daiwa Securities Group Inc.    125,363  
  27     Daiwa Securities Living Investments Corp., Class A Shares    19,918  
  39,600     Daiwabo Holdings Co., Ltd.    778,735  
  24,600     Denso Corp.    385,017  
  2,600     Dentsu Group Inc.    69,743  
  700     Descente Ltd.    20,062  
  17,500     Dexerials Corp.    548,985  
  32,300     Disco Corp.    6,918,989  
  1,300     DMG Mori Co., Ltd.    23,257  
  700     Dowa Holdings Co., Ltd.    24,864  
  5,400     East Japan Railway Co.    291,459  
  1,300     Ebara Corp.    73,568  
  57,800     EDION Corp.    579,258  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
Japan - 15.5% - (continued)  
  3,500     Eisai Co., Ltd.   $  181,401  
  179,300     Electric Power Development Co., Ltd.    2,779,590  
  39,300     ENEOS Holdings Inc.    154,520  
  1,300     EXEO Group Inc.    27,375  
  60,900     Ezaki Glico Co., Ltd.    1,678,101  
  1,300     Fancl Corp.    19,957  
  12,400     FANUC Corp.    343,349  
  2,100     Fast Retailing Co., Ltd.    533,674  
  1,200     Food & Life Cos., Ltd.    23,185  
  1,200     FP Corp.    22,611  
  1,600     Fuji Electric Co., Ltd.    67,095  
  1,300     Fuji Oil Holdings Inc.    20,352  
  5,300     FUJIFILM Holdings Corp.    310,196  
  155,100     Fujikura Ltd.    1,194,224  
  1,100     Fujitsu General Ltd.    20,123  
  2,400     Fujitsu Ltd.    345,875  
  2,200     Fukuoka Financial Group Inc.    51,306  
  35,126     Funai Soken Holdings Inc.    598,561  
  300     Fuyo General Lease Co., Ltd.    24,332  
  60     GLP J-Reit    56,573  
  500     GMO Payment Gateway Inc.    29,474  
  500     Goldwin Inc.    38,987  
  56,100     GungHo Online Entertainment Inc.    868,864  
  149,600     Hachijuni Bank Ltd.    809,648  
  2,700     Hakuhodo DY Holdings Inc.    20,228  
  1,600     Hamamatsu Photonics KK    63,364  
  3,600     Hankyu Hanshin Holdings Inc.    108,701  
  26,000     Hanwa Co., Ltd.    801,256  
  900     Harmonic Drive Systems Inc.    27,404  
  4,200     Haseko Corp.    51,601  
  1,400     Heiwa Corp.    19,897  
  8,900     Hikari Tsushin Inc.    1,383,247  
  5,700     Hino Motors Ltd.*   18,417  
  3,400     Hirogin Holdings Inc.    21,291  
  42,010     Hirose Electric Co., Ltd.    4,698,104  
  800     Hisamitsu Pharmaceutical Co., Inc.    24,902  
  1,500     Hitachi Construction Machinery Co., Ltd.    38,902  
  12,000     Hitachi Ltd.    833,057  
  1,194,700     Honda Motor Co., Ltd.    12,205,572  
  400     Horiba Ltd.    26,934  
  900     Hoshizaki Corp.    28,640  
  1,700     House Foods Group Inc.    37,076  
  4,700     Hoya Corp.    530,166  
  5,400     Hulic Co., Ltd.    53,560  
  1,300     Ibiden Co., Ltd.    61,423  
  2,600     Idemitsu Kosan Co., Ltd.    69,891  
  90,600     IDOM Inc.    563,388  
  2,100     IHI Corp.    40,775  
  2,600     Iida Group Holdings Co., Ltd.    38,843  
  22     Industrial & Infrastructure Fund Investment Corp., Class A Shares    20,495  
  290,100     Infomart Corp.    864,255  
  2,300     INFRONEER Holdings Inc.    24,259  
  13,500     Inpex Corp.    183,251  
  1,300     Internet Initiative Japan Inc.    23,347  

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
Japan - 15.5% - (continued)  
  80     Invincible Investment Corp.   $  32,354  
  4,100     Isetan Mitsukoshi Holdings Ltd.    46,286  
  6,400     Isuzu Motors Ltd.    84,648  
  700     Ito En Ltd.    21,249  
  18,400     ITOCHU Corp.    716,092  
  1,000     Itoham Yonekyu Holdings Inc.    26,711  
  800     Iwatani Corp.    38,405  
  2,700     Iyogin Holdings Inc.    17,434  
  2,300     J Front Retailing Co., Ltd.    21,047  
  41,500     JAFCO Group Co., Ltd.    477,562  
  1,700     Japan Airlines Co., Ltd.    32,219  
  600     Japan Airport Terminal Co., Ltd.    26,112  
  267,600     Japan Elevator Service Holdings Co., Ltd.    4,271,179  
  7,200     Japan Exchange Group Inc.    146,909  
  57     Japan Hotel REIT Investment Corp., Class A Shares    26,711  
  10     Japan Logistics Fund Inc.    19,469  
  93     Japan Metropolitan Fund Invest    61,841  
  16,100     Japan Petroleum Exploration Co., Ltd.    617,691  
  18,500     Japan Post Bank Co., Ltd.    182,795  
  29,300     Japan Post Holdings Co., Ltd.    258,053  
  2,700     Japan Post Insurance Co., Ltd.    50,368  
  11     Japan Prime Realty Investment Corp.    27,548  
  18     Japan Real Estate Investment Corp.    69,874  
  1,100     Japan Steel Works Ltd.    18,995  
  15,900     Japan Tobacco Inc.    408,043  
  100,746     JCR Pharmaceuticals Co., Ltd.    901,299  
  600     Jeol Ltd.    23,797  
  7,600     JFE Holdings Inc.    112,567  
  91,200     JGC Holdings Corp.    1,031,786  
  500     JMDC Inc.    14,601  
  2,200     JSR Corp.    60,467  
  64,200     JTEKT Corp.    588,463  
  1,000     Justsystems Corp.    22,532  
  1,000     Kadokawa Corp.    18,060  
  1,500     Kagome Co., Ltd.    32,173  
  5,600     Kajima Corp.   88,465  
  1,000     Kamigumi Co., Ltd.    21,880  
  800     Kaneka Corp.    20,071  
  9,100     Kansai Electric Power Co., Inc.    121,245  
  52,100     Kansai Paint Co., Ltd.    793,244  
  6,500     Kao Corp.    249,605  
  2,200     Kawasaki Heavy Industries Ltd.    49,955  
  3,200     Kawasaki Kisen Kaisha Ltd.    111,767  
  23,100     KDDI Corp.    721,638  
  53     KDX Realty Investment Corp., Class A Shares    60,644  
  900     Keihan Holdings Co., Ltd.    22,446  
  4,000     Keikyu Corp.    34,079  
  1,800     Keio Corp.    51,720  
  2,000     Keisei Electric Railway Co., Ltd.    80,547  
  2,500     Kewpie Corp.    43,529  
  14,178     Keyence Corp.    6,031,471  
  2,700     Kikkoman Corp.    165,465  
  1,700     Kinden Corp.    25,471  
  2,800     Kintetsu Group Holdings Co., Ltd.    78,387  

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
Japan - 15.5% - (continued)  
  11,100     Kirin Holdings Co., Ltd.   $  156,361  
  800     Kobayashi Pharmaceutical Co., Ltd.    36,848  
  2,200     Kobe Bussan Co., Ltd.    57,963  
  112,100     Kobe Steel Ltd.    1,306,920  
  3,800     Koei Tecmo Holdings Co., Ltd.    46,483  
  779,000     Koito Manufacturing Co., Ltd.    11,777,731  
  434,200     Komatsu Ltd.    11,071,299  
  1,600     Konami Group Corp.    79,163  
  14,100     Konica Minolta Inc.*    44,613  
  10,200     Kose Corp.    723,434  
  1,300     Kotobuki Spirits Co., Ltd.    20,630  
  2,200     K's Holdings Corp.    18,701  
  13,500     Kubota Corp.    193,370  
  80,400     Kuraray Co., Ltd.    820,619  
  900     Kurita Water Industries Ltd.    31,867  
  1,200     Kusuri no Aoki Holdings Co., Ltd.    27,707  
  4,300     Kyocera Corp.    238,291  
  700     Kyoto Financial Group Inc.    41,784  
  3,700     Kyowa Kirin Co., Ltd.    61,640  
  600     Kyudenko Corp.    18,908  
  6,500     Kyushu Electric Power Co., Inc.*    43,503  
  4,500     Kyushu Financial Group Inc.    25,322  
  2,800     Kyushu Railway Co.    58,434  
  21     LaSalle Logiport REIT    22,359  
  1,000     Lasertec Corp.    221,241  
  20,300     Lawson Inc.    1,002,136  
  132,200     Lion Corp.    1,153,475  
  3,500     Lixil Corp.    42,598  
  910,800     LY Corp.    2,608,323  
  5,800     M3 Inc.    95,985  
  700     Mabuchi Motor Co., Ltd.    21,978  
  13,200     Macnica Holdings Inc.    653,218  
  550,600     Makita Corp.    14,503,194  
  75,163     Management Solutions Co., Ltd.(c)    1,485,292  
  1,600     Mani Inc.    23,703  
  20,400     Marubeni Corp.    318,454  
  2,400     Marui Group Co., Ltd.    38,229  
  800     Maruichi Steel Tube Ltd.    20,657  
  5,300     MatsukiyoCocokara & Co.   91,386  
  8,200     Mazda Motor Corp.    86,287  
  1,100     McDonald's Holdings Co. Japan Ltd.    46,849  
  571,100     Mebuki Financial Group Inc.    1,716,472  
  35,500     Medipal Holdings Corp.    560,931  
  4,400     MEIJI Holdings Co., Ltd.    101,537  
  1,000     Mercari Inc.*    19,121  
  714,800     MINEBEA MITSUMI Inc.    13,611,103  
  3,000     MISUMI Group Inc.    48,864  
  17,500     Mitsubishi Chemical Group Corp.    114,531  
  15,400     Mitsubishi Corp.    717,175  
  1,164,000     Mitsubishi Electric Corp.    15,977,180  
  15,400     Mitsubishi Estate Co., Ltd.    207,852  
  2,200     Mitsubishi Gas Chemical Co., Inc.    34,960  
  7,000     Mitsubishi HC Capital Inc.    45,645  
  4,000     Mitsubishi Heavy Industries Ltd.    225,706  

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
Japan - 15.5% - (continued)  
  1,200     Mitsubishi Materials Corp.   $  19,741  
  1,041,500     Mitsubishi Motors Corp.    3,393,117  
  155,700     Mitsubishi UFJ Financial Group Inc.    1,333,614  
  20,000     Mitsui & Co., Ltd.    724,946  
  2,200     Mitsui Chemicals Inc.    64,366  
  66,800     Mitsui Fudosan Co., Ltd.    1,567,939  
  400     Mitsui High-Tec Inc.    19,823  
  3,800     Mitsui OSK Lines Ltd.    104,046  
  1,000     Miura Co., Ltd.    19,499  
  54,900     MIXI Inc.    896,503  
  33,200     Mizuho Financial Group Inc.    563,357  
  600     Money Forward Inc.*    18,441  
  3,000     MonotaRO Co., Ltd.    30,282  
  21     Mori Hills REIT Investment Corp., Class A Shares    19,924  
  600     Morinaga & Co., Ltd.    21,376  
  1,000     Morinaga Milk Industry Co., Ltd.    18,608  
  6,000     MS&AD Insurance Group Holdings Inc.    224,776  
  105,300     m-up Holdings Inc.    722,170  
  182,400     Murata Manufacturing Co., Ltd.    3,560,600  
  592,800     Nabtesco Corp.    11,079,344  
  1,300     Nagase & Co., Ltd.    20,396  
  3,300     Nagoya Railroad Co., Ltd.    48,229  
  1,700     Nankai Electric Railway Co., Ltd.    32,110  
  3,300     NEC Corp.    183,889  
  1,100     NET One Systems Co., Ltd.    15,245  
  6,300     Nexon Co., Ltd.    135,426  
  101,800     Nextage Co., Ltd.(c)    1,573,695  
  3,400     NGK Insulators Ltd.    41,408  
  1,800     NH Foods Ltd.    53,380  
  72,600     NHK Spring Co., Ltd.    552,081  
  1,700     Nichirei Corp.    37,011  
  7,000     NIDEC Corp.    265,129  
  900     Nifco Inc.    21,996  
  1,200     Nihon Kohden Corp.    30,087  
  4,300     Nihon M&A Center Holdings Inc.    19,848  
  4,200     Nikon Corp.    40,477  
  14,900     Nintendo Co., Ltd.    694,831  
  5     Nippon Accommodations Fund Inc., Class A Shares    20,513  
  21     Nippon Building Fund Inc.    88,020  
  1,100     NIPPON EXPRESS HOLDINGS Inc.    59,972  
  2,400     Nippon Kayaku Co., Ltd.    21,879  
  13,600     Nippon Paint Holdings Co., Ltd.   101,916  
  34     Nippon Prologis REIT Inc.    64,448  
  1,900     Nippon Sanso Holdings Corp.    49,892  
  21,500     Nippon Shinyaku Co., Ltd.    773,887  
  600     Nippon Shokubai Co., Ltd.    21,737  
  11,000     Nippon Steel Corp.    256,935  
  3,600,400     Nippon Telegraph & Telephone Corp.    4,218,259  
  6,000     Nippon Yusen KK    160,763  
  1,200     Nishi-Nippon Railroad Co., Ltd.    19,182  
  1,700     Nissan Chemical Corp.    61,975  
  23,200     Nissan Motor Co., Ltd.    91,629  
  4,400     Nisshin Seifun Group Inc.    60,803  
  1,000     Nissin Foods Holdings Co., Ltd.    99,139  

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
Japan - 15.5% - (continued)  
  2,300     Niterra Co., Ltd.   $  53,509  
  1,000     Nitori Holdings Co., Ltd.    114,996  
  24,700     Nitto Denko Corp.    1,756,619  
  800     NOF Corp.    36,894  
  1,500     NOK Corp.    19,138  
  40,900     Nomura Holdings Inc.    166,935  
  1,400     Nomura Real Estate Holdings Inc.    34,072  
  61     Nomura Real Estate Master Fund Inc.    69,834  
  134,100     Nomura Research Institute Ltd.    3,765,172  
  216,400     North Pacific Bank Ltd.    533,717  
  31,100     NS United Kaiun Kaisha Ltd.    1,026,571  
  1,999,700     NSK Ltd.    10,474,537  
  8,500     NTT Data Group Corp.    103,303  
  9,500     Obayashi Corp.    80,060  
  700     OBIC Business Consultants Co., Ltd.    31,966  
  900     Obic Co., Ltd.    137,677  
  4,600     Odakyu Electric Railway Co., Ltd.    64,626  
  9,900     Oji Holdings Corp.    36,727  
  1,151,500     Olympus Corp.    17,027,764  
  2,400     Omron Corp.    100,770  
  5,800     Ono Pharmaceutical Co., Ltd.    106,597  
  1,100     Open House Group Co., Ltd.    30,667  
  700     Oracle Corp. Japan    54,089  
  13,200     Oriental Land Co., Ltd.    448,295  
  17,000     ORIX Corp.    310,403  
  32     Orix JREIT Inc.    37,677  
  5,800     Osaka Gas Co., Ltd.    112,697  
  1,200     Otsuka Corp.    48,898  
  6,700     Otsuka Holdings Co., Ltd.    257,495  
  100,100     Outsourcing Inc.    812,461  
  700     PALTAC Corp.    22,532  
  5,200     Pan Pacific International Holdings Corp.    112,791  
  29,300     Panasonic Holdings Corp.    302,309  
  1,600     Park24 Co., Ltd.*    19,269  
  3,400     Penta-Ocean Construction Co., Ltd.    18,609  
  1,336,000     Persol Holdings Co., Ltd.    2,302,775  
  1,800     Pigeon Corp.    20,200  
  1,700     Pola Orbis Holdings Inc.    17,871  
  121,100     Premium Group Co., Ltd.    1,446,892  
  294,506     Prestige International Inc.    1,295,575  
  114,404     Rakus Co., Ltd.    2,065,112  
  12,400     Rakuten Group Inc.    49,041  
  102,700     Recruit Holdings Co., Ltd.    3,830,266  
  15,900     Renesas Electronics Corp.*    280,543  
  4,100     Rengo Co., Ltd.   25,902  
  1,441,200     Resona Holdings Inc.    7,479,110  
  2,200     Resonac Holdings Corp.    41,036  
  10,200     Ricoh Co., Ltd.    83,210  
  1,600     Rinnai Corp.    32,488  
  4,500     Rohm Co., Ltd.    86,141  
  235,500     Rohto Pharmaceutical Co., Ltd.    4,918,069  
  2,500     Ryohin Keikaku Co., Ltd.    39,432  
  300     Sanken Electric Co., Ltd.    15,377  
  44,600     Sankyo Co., Ltd.    1,920,142  

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
Japan - 15.5% - (continued)  
  700     Sankyu Inc.   $  23,830  
  700     Sanrio Co., Ltd.    28,633  
  3,400     Santen Pharmaceutical Co., Ltd.    32,013  
  34,900     Sanwa Holdings Corp.    500,529  
  600     Sapporo Holdings Ltd.    23,356  
  3,000     SBI Holdings Inc.    65,034  
  23,000     SCREEN Holdings Co., Ltd.    1,677,774  
  1,200     SCSK Corp.    22,084  
  2,600     Secom Co., Ltd.    180,807  
  1,700     Sega Sammy Holdings Inc.    24,679  
  3,300     Seibu Holdings Inc.    39,683  
  5,400     Seiko Epson Corp.    80,272  
  2,000     Seino Holdings Co., Ltd.    28,131  
  5,700     Sekisui Chemical Co., Ltd.    80,901  
  8,500     Sekisui House Ltd.    173,960  
  44     Sekisui House REIT Inc.    25,151  
  119,900     Seven & i Holdings Co., Ltd.    4,450,553  
  9,900     Seven Bank Ltd.    20,152  
  6,500     SG Holdings Co., Ltd.    93,837  
  3,200     Sharp Corp.    20,017  
  100     SHIFT Inc.*    23,279  
  3,200     Shikoku Electric Power Co., Inc.    22,132  
  264,200     Shimadzu Corp.    6,849,770  
  300     Shimamura Co., Ltd.    33,531  
  1,000     Shimano Inc.    153,844  
  7,100     Shimizu Corp.    46,485  
  26,000     Shin-Etsu Chemical Co., Ltd.    916,521  
  800     Shinko Electric Industries Co., Ltd.    29,844  
  3,700     Shionogi & Co., Ltd.    174,342  
  53,000     Shiseido Co., Ltd.    1,425,156  
  4,500     Shizuoka Financial Group Inc.    36,352  
  500     SHO-BOND Holdings Co., Ltd.    20,341  
  298,396     SIGMAXYZ Holdings Inc.    2,664,661  
  156,100     SKY Perfect JSAT Holdings Inc.    713,080  
  2,300     Skylark Holdings Co., Ltd.*    33,861  
  13,700     SMC Corp.    6,902,310  
  94,338     SMS Co., Ltd.    1,794,317  
  400     Socionext Inc.    35,407  
  40,700     SoftBank Corp.    494,214  
  13,000     SoftBank Group Corp.    529,771  
  3,300     Sohgo Security Services Co., Ltd.    19,106  
  144,300     Sojitz Corp.    3,212,453  
  4,000     Sompo Holdings Inc.    182,566  
  54,200     Sony Group Corp.    4,671,750  
  1,100     Sotetsu Holdings Inc.    19,920  
  1,500     Square Enix Holdings Co., Ltd.    52,027  
  86,900     Stanley Electric Co., Ltd.    1,609,216  
  79,600     Strike Co., Ltd.   2,086,275  
  8,300     Subaru Corp.    147,200  
  700     Sugi Holdings Co., Ltd.    30,324  
  3,900     SUMCO Corp.    58,033  
  500     Sumitomo Bakelite Co., Ltd.    23,870  
  19,100     Sumitomo Chemical Co., Ltd.    48,801  
  15,300     Sumitomo Corp.    320,716  

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
Japan - 15.5% - (continued)  
  11,100     Sumitomo Electric Industries Ltd.   $  136,580  
  1,800     Sumitomo Forestry Co., Ltd.    45,891  
  900     Sumitomo Heavy Industries Ltd.    21,474  
  62,600     Sumitomo Metal Mining Co., Ltd.    1,815,466  
  16,700     Sumitomo Mitsui Financial Group Inc.    818,497  
  4,300     Sumitomo Mitsui Trust Holdings Inc.    162,354  
  5,500     Sumitomo Realty & Development Co., Ltd.    155,242  
  46,800     Sumitomo Rubber Industries Ltd.    540,951  
  1,400     Sundrug Co., Ltd.    42,315  
  2,000     Suntory Beverage & Food Ltd.    62,295  
  18,000     Suzuken Co., Ltd.    612,699  
  6,100     Suzuki Motor Corp.    247,466  
  2,700     Sysmex Corp.    149,331  
  6,200     T&D Holdings Inc.    91,522  
  1,500     Taiheiyo Cement Corp.    28,149  
  56,100     Taisei Corp.    1,905,992  
  700     Taisho Pharmaceutical Holdings Co., Ltd.    41,382  
  1,200     Taiyo Yuden Co., Ltd.    31,130  
  2,500     Takara Holdings Inc.    20,529  
  1,400     Takashimaya Co., Ltd.    18,798  
  21,000     Takeda Pharmaceutical Co., Ltd.    593,590  
  4,800     TDK Corp.    223,265  
  1,000     TechnoPro Holdings Inc.    23,242  
  2,100     Teijin Ltd.    19,032  
  9,400     Terumo Corp.    300,125  
  1,100     THK Co., Ltd.    21,965  
  2,900     TIS Inc.    61,277  
  3,200     Tobu Railway Co., Ltd.    78,993  
  1,200     Toho Co., Ltd.    41,590  
  1,400     Toho Gas Co., Ltd.    24,921  
  7,200     Tohoku Electric Power Co., Inc.    45,931  
  2,500     Tokai Carbon Co., Ltd.    18,403  
  24,800     Tokio Marine Holdings Inc.    609,236  
  900     Tokyo Century Corp.    35,842  
  19,600     Tokyo Electric Power Co. Holdings Inc.*    83,615  
  6,000     Tokyo Electron Ltd.    962,984  
  5,900     Tokyo Gas Co., Ltd.    136,612  
  300     Tokyo Ohka Kogyo Co., Ltd.    18,580  
  400     Tokyo Seimitsu Co., Ltd.    23,206  
  114,100     Tokyo Steel Manufacturing Co., Ltd.    1,382,987  
  79,100     Tokyo Tatemono Co., Ltd.    1,123,384  
  9,800     Tokyu Corp.    114,859  
  179,200     Tokyu Fudosan Holdings Corp.    1,107,713  
  3,500     TOPPAN Holdings Inc.    81,958  
  21,200     Toray Industries Inc.    110,055  
  600     Toshiba Corp.*    18,617  
  1,400     Toshiba TEC Corp.    27,510  
  654,300     Tosoh Corp.    8,693,783  
  285,900     TOTO Ltd.    7,331,150  
  2,300     Toyo Seikan Group Holdings Ltd.    35,653  
  122,100     Toyo Suisan Kaisha Ltd.   6,493,823  
  49,600     Toyo Tire Corp.    821,317  
  22,500     Toyoda Gosei Co., Ltd.    450,198  
  26,000     Toyota Boshoku Corp.    448,370  

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
Japan - 15.5% - (continued)  
  2,100     Toyota Industries Corp.   $  180,561  
  161,000     Toyota Motor Corp.    3,051,003  
  3,000     Toyota Tsusho Corp.    166,385  
  29,200     Transcosmos Inc.    611,478  
  2,200     Trend Micro Inc.    110,655  
  1,800     TS Tech Co., Ltd.    22,144  
  600     Tsuruha Holdings Inc.    50,407  
  600     Ulvac Inc.    26,428  
  5,500     Unicharm Corp.    176,562  
  40     United Urban Investment Corp.    39,137  
  3,200     USS Co., Ltd.    62,542  
  1,900     Welcia Holdings Co., Ltd.    33,150  
  3,500     West Japan Railway Co.    138,203  
  700     Workman Co., Ltd.    21,842  
  3,900     Yakult Honsha Co., Ltd.    86,857  
  289,800     Yamada Holdings Co., Ltd.    837,947  
  2,400     Yamaguchi Financial Group Inc.    21,058  
  2,100     Yamaha Corp.    49,129  
  4,000     Yamaha Motor Co., Ltd.    102,195  
  4,600     Yamato Holdings Co., Ltd.    81,668  
  9,400     Yamato Kogyo Co., Ltd.    473,983  
  1,800     Yamazaki Baking Co., Ltd.    39,277  
  800     Yaoko Co., Ltd.    43,578  
  3,000     Yaskawa Electric Corp.    115,185  
  104,600     Yokogawa Electric Corp.    1,974,548  
  1,700     Yokohama Rubber Co., Ltd.    37,816  
  700     Zenkoku Hosho Co., Ltd.    23,615  
  1,200     Zensho Holdings Co., Ltd.    66,508  
  1,900     Zeon Corp.    17,614  
  1,700     ZOZO Inc.    35,882  
        Total Japan   379,879,600  
Jersey, Channel Islands - 0.2%  
  398,797     JTC PLC(a)    3,743,096  
Jordan - 0.0%  
  2,001     Hikma Pharmaceuticals PLC    43,653  
Lithuania - 0.1%  
  940,707     Baltic Classifieds Group PLC    2,567,460  
Luxembourg - 0.1%  
  7,418     ArcelorMittal SA    187,314  
  30,680     Eurofins Scientific SE    1,784,652  
  6,750     L'Occitane International SA    16,850  
  1,388     RTL Group SA    49,984  
  7,780     Tenaris SA    133,492  
        Total Luxembourg   2,172,292  
Macau - 0.0%  
  15,600     MGM China Holdings Ltd.*    17,177  
  30,400     Sands China Ltd.*    74,662  
  20,800     Wynn Macau Ltd.*    14,914  
        Total Macau   106,753  
Malaysia - 0.0%  
  3,344,500     CTOS Digital Bhd    1,041,154  
  12,241     Lynas Rare Earths Ltd.*   53,382  
        Total Malaysia   1,094,536  

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
Mexico - 0.3%  
  3,190     Fresnillo PLC   $  23,486  
  340,668     Grupo Mexico SAB de CV, Class B Shares    1,564,980  
  359,284     Qualitas Controladora SAB de CV    3,286,932  
  588,105     Wal-Mart de Mexico SAB de CV    2,315,330  
        Total Mexico   7,190,728  
Netherlands - 3.5%  
  1,427     Aalberts NV    56,478  
  5,427     ABN AMRO Bank NV(a)    72,902  
  2,323     Adyen NV*(a)    2,722,022  
  9,392     Aegon Ltd.    51,445  
  246,291     Akzo Nobel NV    18,926,335  
  767     Argenx SE*    342,958  
  643     ASM International NV    330,997  
  23,970     ASML Holding NV    16,320,825  
  2,375     ASR Nederland NV    109,449  
  1,071     BE Semiconductor Industries NV    149,877  
  1,165     CTP NV(a)    18,716  
  155,124     Euronext NV(a)    12,900,283  
  1,243     EXOR NV    120,959  
  1,541     Heineken Holding NV    119,734  
  48,267     Heineken NV    4,413,395  
  913     IMCD NV    141,216  
  48,956     ING Groep NV    687,589  
  1,121     JDE Peet's NV    30,052  
  11,939     Koninklijke Ahold Delhaize NV    345,302  
  50,790     Koninklijke KPN NV    174,138  
  13,134     Koninklijke Philips NV    268,702  
  896     Koninklijke Vopak NV    30,765  
  4,500     NN Group NV    171,127  
  1,540     OCI NV    33,142  
  266,601     Prosus NV*    8,836,207  
  3,401     QIAGEN NV*    139,260  
  185,738     Randstad NV    11,042,162  
  2,144     Signify NV(a)    62,329  
  29,894     Stellantis NV    650,184  
  10,739     Universal Music Group NV    284,205  
  46,826     Wolters Kluwer NV    6,440,896  
        Total Netherlands   85,993,651  
New Zealand - 0.0%  
  9,594     a2 Milk Co., Ltd.*    24,523  
  16,752     Auckland International Airport Ltd.    81,860  
  10,537     Contact Energy Ltd.    50,481  
  7,667     Fisher & Paykel Healthcare Corp., Ltd    111,172  
  10,460     Fletcher Building Ltd.    29,813  
  11,148     Infratil Ltd.    66,875  
  1,081     Mainfreight Ltd.    45,061  
  9,213     Mercury NZ Ltd.    35,334  
  16,644     Meridian Energy Ltd.    53,513  
  8,035     Ryman Healthcare Ltd.    26,851  
  24,719     Spark New Zealand Ltd.    78,961  
  1,831     Xero Ltd.*    124,964  
        Total New Zealand   729,408  

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
Norway - 1.5%  
  3,172     Adevinta ASA, Class B Shares*   $ 32,818  
  343     Aker ASA, Class A Shares    21,435  
  716,447     Aker BP ASA    20,408,919  
  13,789     DNB Bank ASA    262,540  
  424,699     Equinor ASA    13,587,225  
  94,156     Europris ASA(a)    623,486  
  1,812     Gjensidige Forsikring ASA    30,484  
  716     Kongsberg Gruppen ASA    30,718  
  6,411     Mowi ASA    113,978  
  569,419     MPC Container Ships ASA    729,417  
  18,516     Norsk Hydro ASA    107,385  
  12,952     Orkla ASA    95,424  
  884     Salmar ASA    48,466  
  2,039     Schibsted ASA, Class B Shares    47,104  
  7,892     Telenor ASA    84,908  
  2,312     TOMRA Systems ASA    22,821  
  7,557     Var Energi ASA    24,001  
  2,206     Yara International ASA    74,757  
        Total Norway   36,345,886  
Peru - 0.1%  
  17,654     Credicorp Ltd.    2,216,107  
  15,112     InRetail Peru Corp.(a)    510,030  
        Total Peru   2,726,137  
Philippines - 0.2%  
  2,121,682     Ayala Land Inc.    1,193,405  
  841,444     BDO Unibank Inc.    2,023,896  
  169,440     SM Investments Corp.    2,502,027  
        Total Philippines   5,719,328  
Poland - 0.3%  
  7,296     Allegro.eu SA*(a)    52,912  
  3,224     Bank Polska Kasa Opieki SA    113,345  
  2,448     Benefit Systems SA    1,166,357  
  7,430     Dino Polska SA*(a)    829,102  
  199,522     InPost SA*    2,355,549  
  1,716     KGHM Polska Miedz SA    49,502  
  18     LPP SA    66,987  
  8,864     ORLEN SA    131,017  
  15,096     Powszechna Kasa Oszczednosci Bank Polski SA*    179,753  
  9,256     Powszechny Zaklad Ubezpieczen SA    105,532  
  701     Santander Bank Polska SA*    87,273  
  58,555     Text SA(c)    1,616,607  
        Total Poland   6,753,936  
Portugal - 0.4%  
  38,446     EDP - Energias de Portugal SA    183,976  
  382,249     Galp Energia SGPS SA    5,705,745  
  114,160     Jeronimo Martins SGPS SA    2,828,503  
        Total Portugal   8,718,224  
Russia - 0.0%  
  5,600     Novatek PJSC, GDR*(b)@    112  
  978,392     Sberbank of Russia PJSC(b)@    630  
        Total Russia   742  
Saudi Arabia - 0.1%  
  260,208     Saudi National Bank    2,425,602  

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
Singapore - 0.9%  
  2,900     BOC Aviation Ltd.(a)   $  20,876  
  50,300     CapitaLand Ascendas REIT   106,561  
  28,900     CapitaLand Ascott Trust    20,007  
  74,600     CapitaLand Integrated Commercial Trust    101,686  
  36,700     CapitaLand Investment Ltd.    83,287  
  7,800     City Developments Ltd.    36,546  
  33,000     ComfortDelGro Corp., Ltd    31,848  
  24,200     DBS Group Holdings Ltd.    575,218  
  40,700     Frasers Logistics & Commercial Trust    33,810  
  91,200     Genting Singapore Ltd.    62,320  
  3,551,300     Golden Agri-Resources Ltd.    705,787  
  147,868     Hafnia Ltd.    905,631  
  1,400     Jardine Cycle & Carriage Ltd.    29,975  
  17,000     Keppel Corp., Ltd    84,883  
  13,500     Keppel DC REIT    18,609  
  35,700     Keppel REIT    23,137  
  28,500     Mapletree Industrial Trust    48,661  
  46,500     Mapletree Logistics Trust    56,075  
  40,200     Mapletree Pan Asia Commercial Trust    41,251  
  28,100     Olam Group Ltd.    21,457  
  46,600     Oversea-Chinese Banking Corp., Ltd    438,328  
  10,500     SATS Ltd.*    20,828  
  48,772     Sea Ltd., ADR*    1,766,522  
  438,800     Seatrium Ltd.*    34,480  
  282,300     Sembcorp Industries Ltd.    1,086,535  
  1,025,100     Sheng Siong Group Ltd.    1,196,287  
  16,900     Singapore Airlines Ltd.    80,195  
  13,200     Singapore Exchange Ltd.    93,193  
  23,500     Singapore Technologies Engineering Ltd.    65,241  
  103,200     Singapore Telecommunications Ltd.    178,448  
  37,700     Suntec Real Estate Investment Trust    32,527  
  686,300     United Overseas Bank Ltd.    13,988,127  
  7,700     UOL Group Ltd.    34,075  
  2,400     Venture Corp., Ltd    22,463  
  42,900     Wilmar International Ltd.    116,608  
  374,300     Yanlord Land Group Ltd.*    151,311  
        Total Singapore   22,312,793  
South Africa - 0.5%  
  16,563     Capitec Bank Holdings Ltd.    1,727,223  
  25,318     Gold Fields Ltd.    385,654  
  66,089     Gold Fields Ltd., ADR    1,010,501  
  4,576     Naspers Ltd., Class N Shares*    844,175  
  6,486,996     Sibanye Stillwater Ltd.    7,160,310  
        Total South Africa   11,127,863  
South Korea - 3.4%  
  497     Alteogen Inc.*    30,628  
  356     Amorepacific Corp.    35,451  
  103,572     BNK Financial Group Inc.    571,745  
  1,387     Celltrion Healthcare Co., Ltd.    79,557  
  1,462     Celltrion Inc.    183,611  
  421     Celltrion Pharm Inc.*    26,103  
  1,556     Cheil Worldwide Inc.    23,443  
  340     CJ Corp.    24,101  
  296     CosmoAM&T Co., Ltd.*    37,606  

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
South Korea - 3.4% - (continued)  
  648     DB Insurance Co., Ltd.   $  41,761  
  4,405     DGB Financial Group Inc.    28,766  
  824     Doosan Bobcat Inc.    28,949  
  8,751     Doosan Co., Ltd.   620,952  
  6,219     Doosan Enerbility Co., Ltd.*    75,662  
  631     Ecopro BM Co., Ltd.    133,445  
  259     Ecopro Co., Ltd.    149,498  
  246     F&F Co., Ltd.    16,277  
  754     Fila Holdings Corp.    22,140  
  702     GS Holdings Corp.    22,283  
  3,955     Hana Financial Group Inc.    126,860  
  678     Hanjin Kal Corp.    28,149  
  1,048     Hankook Tire & Technology Co., Ltd.    36,450  
  115     Hanmi Pharm Co., Ltd.    27,148  
  2,894     Hanon Systems    16,165  
  624     Hanwha Aerospace Co., Ltd.    60,520  
  52,573     Hanwha Corp.    1,036,434  
  9,302     Hanwha Life Insurance Co., Ltd.*    19,750  
  1,060     Hanwha Ocean Co., Ltd.*    22,441  
  1,312     Hanwha Solutions Corp.*    34,139  
  39,521     Hanwha Systems Co., Ltd.    490,188  
  942     HD Hyundai Co., Ltd.    43,617  
  8,551     HD Hyundai Electric Co., Ltd.    554,100  
  14,495     HD Hyundai Heavy Industries Co., Ltd.    1,397,911  
  2,782     HD Hyundai Infracore Co., Ltd.     16,741  
  33,618     HD Korea Shipbuilding & Offshore Engineering Co., Ltd.    2,892,784  
  661     HL Mando Co., Ltd.    18,155  
  1,417     HLB Inc.*    34,817  
  3,503     HMM Co., Ltd.    41,777  
  454     Hotel Shilla Co., Ltd.    22,942  
  271     HYBE Co., Ltd.*    45,000  
  942     Hyundai Engineering & Construction Co., Ltd.    26,011  
  157     Hyundai Glovis Co., Ltd.    21,001  
  53,767     Hyundai Marine & Fire Insurance Co., Ltd.    1,297,998  
  375     Hyundai Mipo Dockyard Co., Ltd.*    23,435  
  824     Hyundai Mobis Co., Ltd.    145,378  
  2,809     Hyundai Motor Co.    345,894  
  888     Hyundai Steel Co.    24,080  
  13,007     Hyundai Wia Corp.    597,148  
  4,026     Industrial Bank of Korea    36,611  
  93,580     JB Financial Group Co., Ltd.    748,825  
  4,183     Kakao Corp.    162,775  
  3,139     KakaoBank Corp.    63,398  
  5,125     KB Financial Group Inc.    205,926  
  112     KCC Corp.    17,941  
  844     KEPCO Plant Service & Engineering Co., Ltd.    22,568  
  3,512     Kia Corp.    232,340  
  30,305     Korea Aerospace Industries Ltd.    1,081,779  
  3,806     Korea Electric Power Corp.    55,158  
  527     Korea Investment Holdings Co., Ltd.    24,219  
  127     Korea Zinc Co., Ltd.    48,076  
  3,479     Korean Air Lines Co., Ltd.    60,141  
  306     Krafton Inc.*    50,080  
  1,261     KT&G Corp.    85,488  

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
South Korea - 3.4% - (continued)  
  212     Kumho Petrochemical Co., Ltd.   $  20,835  
  360     L&F Co., Ltd.    48,962  
  21,255     LEENO Industrial Inc.    3,273,798  
  5,012     LG Chem Ltd.    1,918,986  
  1,180     LG Corp.    76,190  
  3,848     LG Display Co., Ltd.    37,113  
  1,428     LG Electronics Inc.   113,000  
  534     LG Energy Solution Ltd.*    187,151  
  111     LG H&H Co., Ltd.    28,515  
  214     LG Innotek Co., Ltd.    39,076  
  3,017     LG Uplus Corp.    24,354  
  235     Lotte Chemical Corp.    27,821  
  1,089     Lotte Corp.    23,478  
  729     Lotte Energy Materials Corp.    25,281  
  12,386     LOTTE Fine Chemical Co., Ltd.    549,498  
  16,462     LS Corp.    1,074,542  
  66,173     LX INTERNATIONAL Corp.    1,516,248  
  1,419     Meritz Financial Group Inc.    60,512  
  4,464     Mirae Asset Securities Co., Ltd.    24,650  
  17,044     NAVER Corp.    2,732,970  
  155     NCSoft Corp.    31,293  
  2,677     NH Investment & Securities Co., Ltd.    21,149  
  118,259     NICE Information Service Co., Ltd.    818,191  
  10,103     OCI Holdings Co., Ltd.    768,918  
  218     Orion Corp.    19,769  
  5,618     Pan Ocean Co., Ltd.    19,582  
  607     Pearl Abyss Corp.*    17,674  
  394     POSCO Future M Co., Ltd.    98,716  
  1,008     POSCO Holdings Inc.    375,519  
  669     Posco International Corp.    29,526  
  478     S-1 Corp.    22,158  
  194     Samsung Biologics Co., Ltd.*(a)    108,311  
  1,057     Samsung C&T Corp.    96,919  
  906     Samsung Card Co., Ltd.    23,012  
  807     Samsung Electro-Mechanics Co., Ltd.    90,023  
  543,297     Samsung Electronics Co., Ltd.    30,260,180  
  2,158     Samsung Engineering Co., Ltd.*    41,982  
  553     Samsung Fire & Marine Insurance Co., Ltd.    102,598  
  10,928     Samsung Heavy Industries Co., Ltd.*    67,180  
  931     Samsung Life Insurance Co., Ltd.    50,172  
  1,717     Samsung SDI Co., Ltd.    625,046  
  472     Samsung SDS Co., Ltd.    61,078  
  758     Samsung Securities Co., Ltd.    22,884  
  6,677     Shinhan Financial Group Co., Ltd.    189,749  
  440     SK Biopharmaceuticals Co., Ltd.*    29,182  
  416     SK Bioscience Co., Ltd.*    21,688  
  143,312     SK Hynix Inc.    14,799,628  
  390     SK IE Technology Co., Ltd.*(a)    21,348  
  442     SK Inc.    55,704  
  845     SK Innovation Co., Ltd.*    93,235  
  4,739     SK Networks Co., Ltd.    20,606  
  1,384     SK Square Co., Ltd.*    54,191  
  389     SKC Co., Ltd.    29,091  

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
South Korea - 3.4% - (continued)  
  841     S-Oil Corp.   $  44,083  
  10,652     Tokai Carbon Korea Co., Ltd.    810,108  
  9,155     Woori Financial Group Inc.    91,588  
  21,444     Youngone Corp.    721,852  
  122,432     Yuhan Corp.    5,777,945  
        Total South Korea   82,829,194  
Spain - 1.2%  
  183     Acciona SA    25,878  
  44,605     Acerinox SA   489,416  
  2,969     ACS Actividades de Construccion y Servicios SA    118,605  
  947     Aena SME SA(a)    163,122  
  145,157     Amadeus IT Group SA    9,948,097  
  80,588     Banco Bilbao Vizcaya Argentaria SA    749,366  
  1,277,391     Banco de Sabadell SA    1,863,383  
  214,903     Banco Santander SA    890,298  
  10,573     Bankinter SA    74,214  
  1,729,924     CaixaBank SA    7,786,131  
  7,102     Cellnex Telecom SA(a)    271,789  
  32,368     Compania de Distribucion Integral Logista Holdings SA    838,274  
  796     Corp. ACCIONA Energias Renovables SA    23,621  
  4,154     EDP Renovaveis SA    75,931  
  2,659     Enagas SA    48,654  
  4,267     Endesa SA    89,149  
  6,965     Ferrovial SE    241,185  
  94,545     Fluidra SA(c)    1,952,032  
  3,719     Grifols SA*    52,701  
  3,225     Grifols SA, Class B Shares*    31,300  
  78,705     Iberdrola SA    973,401  
  33,900     Indra Sistemas SA    523,449  
  14,456     Industria de Diseno Textil SA    596,682  
  10,988     Mapfre SA    24,219  
  56,426     Merlin Properties Socimi SA    570,833  
  2,049     Naturgy Energy Group SA    61,190  
  5,319     Redeia Corp. SA    89,195  
  19,160     Repsol SA    294,125  
  67,525     Telefonica SA    291,279  
        Total Spain   29,157,519  
Sweden - 3.8%  
  3,878     Alfa Laval AB    144,799  
  139,615     Assa Abloy AB, Class B Shares    3,578,302  
  33,451     Atlas Copco AB, Class A Shares    516,526  
  20,001     Atlas Copco AB, Class B Shares    264,125  
  780     Axfood AB    19,431  
  4,917     Beijer Ref AB, Class B Shares    54,537  
  357,219     Boliden AB    9,532,028  
  6,115     Castellum AB    74,714  
  303,069     Cloetta AB, Class B Shares    525,336  
  988,210     Electrolux AB, Class B Shares*    9,757,155  
  1,402,223     Elekta AB, Class B Shares    10,927,538  
  194,409     Epiroc AB, Class A Shares    3,627,631  
  2,084     Epiroc AB, Class B Shares    32,802  
  5,992     EQT AB    141,902  
  198,699     Essity AB, Class B Shares    4,970,491  
  2,516     Evolution AB(a)    261,614  

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
Sweden - 3.8% - (continued)  
  9,148     Fastighets AB Balder, Class B Shares*   $  54,258  
  293,663     Fortnox AB    1,560,336  
  588,399     Getinge AB, Class B Shares    12,527,011  
  8,052     H & M Hennes & Mauritz AB, Class B Shares    128,870  
  146,139     Hemnet Group AB    3,313,459  
  238,592     Hexagon AB, Class B Shares    2,392,156  
  1,226     Holmen AB, Class B Shares    51,450  
  4,183     Husqvarna AB, Class B Shares    32,010  
  5,356     Industrivarden AB, Class A Shares    161,236  
  3,243     Indutrade AB    71,332  
  2,410     Investment AB Latour, Class B Shares   54,006  
  5,655     Investor AB, Class A Shares    116,120  
  21,952     Investor AB, Class B Shares    456,429  
  3,241     Kinnevik AB, Class B Shares*    30,285  
  1,790     L E Lundbergforetagen AB, Class B Shares    87,150  
  3,055     Lifco AB, Class B Shares    66,278  
  20,675     Nibe Industrier AB, Class B Shares    122,593  
  17,207     Olink Holding AB, ADR*    444,801  
  1,177     Saab AB, Class B Shares    60,436  
  25,100     Sagax AB, Class D Shares    64,294  
  14,478     Sandvik AB    285,913  
  6,719     Securitas AB, Class B Shares    60,488  
  21,594     Skandinaviska Enskilda Banken AB, Class A Shares    261,282  
  5,593     Skanska AB, Class B Shares    89,827  
  888,535     SKF AB, Class B Shares    16,713,610  
  374,508     SSAB AB, Class B Shares    2,768,781  
  170,145     Svenska Cellulosa AB SCA, Class B Shares    2,527,342  
  19,656     Svenska Handelsbanken AB, Class A Shares    186,121  
  467     Svenska Handelsbanken AB, Class B Shares    5,409  
  3,036     Sweco AB, Class B Shares    36,357  
  89,825     Swedbank AB, Class A Shares    1,649,161  
  2,253     Swedish Orphan Biovitrum AB*    53,563  
  7,959     Tele2 AB, Class B Shares    62,441  
  38,939     Telefonaktiebolaget LM Ericsson, Class B Shares    192,071  
  29,819     Telia Co. AB    70,690  
  2,578     Trelleborg AB, Class B Shares    80,061  
  2,347,810     VEF AB*    419,793  
  35,732     Vitec Software Group AB, Class B Shares    1,871,712  
  22,894     Volvo AB, Class B Shares    530,818  
  6,766     Volvo Car AB, Class B Shares*    22,092  
        Total Sweden   94,110,973  
Switzerland - 4.5%  
  20,552     ABB Ltd., Class Registered Shares    816,155  
  17,305     Accelleron Industries AG    497,909  
  2,536     Adecco Group AG, Class Registered Shares    122,283  
  87,849     Alcon Inc.    6,627,283  
  1,452     Avolta AG*    50,697  
  370     Bachem Holding AG, Class B Shares    27,533  
  790     Baloise Holding AG, Class Registered Shares    120,905  
  614     Banque Cantonale Vaudoise, Class Registered Shares    74,849  
  4,234     Barry Callebaut AG, Class Registered Shares    7,062,328  
  114     Belimo Holding AG, Class Registered Shares    55,557  
  318     BKW AG    56,159  
  149     Chocoladefabriken Lindt & Spruengli AG    1,841,750  

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
Switzerland - 4.5% - (continued)  
  1     Chocoladefabriken Lindt & Spruengli AG, Class Registered Shares   $  122,172  
  23,332     Cie Financiere Richemont SA, Class Registered Shares    2,921,059  
  3,603     Clariant AG, Class Registered Shares*    53,940  
  2,962     Coca-Cola HBC AG*    82,252  
  755     DKSH Holding AG    49,887  
  2,561     DSM-Firmenich AG    242,804  
  85     EMS-Chemie Holding AG, Class Registered Shares    60,079  
  339     Flughafen Zurich AG, Class Registered Shares    71,842  
  393     Geberit AG, Class Registered Shares    220,536  
  1,466     Georg Fischer AG, Class Registered Shares    96,204  
  1,153     Givaudan SA, Class Registered Shares    4,315,492  
  1,091,164     Glencore PLC    6,118,080  
  651     Helvetia Holding AG, Class Registered Shares   89,014  
  6,618     Holcim AG*    487,128  
  427,811     Julius Baer Group Ltd.     21,677,230  
  676     Kuehne + Nagel International AG, Class Registered Shares    195,695  
  1,957     Logitech International SA, Class Registered Shares    170,871  
  1,904     Lonza Group AG, Class Registered Shares    737,286  
  130,365     Nestle SA, Class Registered Shares    14,841,232  
  23,200     Novartis AG, ADR    2,271,280  
  4,499     Novartis AG, Class Registered Shares    439,978  
  3,358     Partners Group Holding AG    4,435,493  
  505     PSP Swiss Property AG, Class Registered Shares    66,797  
  383     Roche Holding AG-BR    109,304  
  32,847     Roche Holding AG-GENUSSCHEIN    8,865,054  
  5,709     Sandoz Group AG*    163,068  
  15,871     Schindler Holding AG    3,553,597  
  103     Schindler Holding AG, Class Registered Shares    22,078  
  49,689     SGS SA, Class Registered Shares    4,225,197  
  4,116     SIG Group AG*    96,406  
  13,614     Sika AG, Class Registered Shares    3,692,845  
  637     Sonova Holding AG, Class Registered Shares    184,277  
  1,367     Straumann Holding AG, Class Registered Shares    188,097  
  503     Swatch Group AG    132,146  
  479     Swiss Life Holding AG, Class Registered Shares    307,286  
  848     Swiss Prime Site AG, Class Registered Shares    85,392  
  4,074     Swiss Re AG    480,731  
  382     Swisscom AG, Class Registered Shares    222,814  
  155     Tecan Group AG, Class Registered Shares    56,513  
  751     Temenos AG, Class Registered Shares    63,985  
  326,826     UBS Group AG, Class Registered Shares    9,207,107  
  367     VAT Group AG(a)    170,885  
  2,005     Zurich Insurance Group AG    1,003,507  
        Total Switzerland   109,950,048  
Taiwan - 3.0%  
  127,000     Arcadyan Technology Corp.    662,291  
  103,000     Chicony Electronics Co., Ltd.    523,798  
  116,844     Chief Telecom Inc.    1,202,636  
  660,000     Compeq Manufacturing Co., Ltd.    1,536,117  
  222,911     Delta Electronics Inc.    2,239,980  
  98,000     Elan Microelectronics Corp.    471,914  
  80,000     Elite Material Co., Ltd.    970,346  
  214,000     Gold Circuit Electronics Ltd.    1,543,871  
  40,000     International Games System Co., Ltd.    849,050  

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
Taiwan - 3.0% - (continued)  
  789,000     King Yuan Electronics Co., Ltd.   $  2,070,640  
  74,000     Makalot Industrial Co., Ltd.    844,636  
  228,285     Materials Analysis Technology Inc.    1,722,540  
  162,000     Powertech Technology Inc.    576,952  
  759,000     Radiant Opto-Electronics Corp.    3,192,811  
  279,000     Simplo Technology Co., Ltd.    3,375,937  
  220,000     Sino-American Silicon Products Inc.    1,283,605  
  76,000     Sporton International Inc.    578,945  
  470,715     Supreme Electronics Co., Ltd.    838,689  
  326,000     T3EX Global Holdings Corp.    799,744  
  1,496,762     Taiwan Semiconductor Manufacturing Co., Ltd.    27,398,024  
  188,847     Taiwan Semiconductor Manufacturing Co., Ltd., ADR    18,376,702  
  36,981     Voltronic Power Technology Corp.    1,887,352  
        Total Taiwan   72,946,580  
Thailand - 0.2%  
  1,677,300     AP Thailand PCL(b)   512,153  
  1,118,900     Betagro PCL(b)    752,893  
  68,700     Bumrungrad Hospital PCL(b)@    433,138  
  919,500     CP ALL PCL, Class F Shares(b)    1,351,824  
  1,856,700     Regional Container Lines PCL(b)    1,018,377  
  18,331,200     Sansiri PCL(b)    865,510  
  1,127,600     Supalai PCL(b)    561,090  
        Total Thailand   5,494,985  
Turkey - 0.2%  
  166,774     Anadolu Efes Biracilik Ve Malt Sanayii AS    639,723  
  56,319     Dogus Otomotiv Servis ve Ticaret AS    478,189  
  307,386     Enerjisa Enerji AS(a)    508,998  
  1,305,268     Sok Marketler Ticaret AS    2,650,800  
  59,044     Turk Traktor ve Ziraat Makineleri AS    1,411,995  
        Total Turkey   5,689,705  
United Arab Emirates - 0.0%  
  81,922     Network International Holdings PLC*(a)    404,426  
United Kingdom - 9.3%  
  13,525     3i Group PLC    382,172  
  24,986     abrdn PLC    51,474  
  3,976     Admiral Group PLC    135,813  
  13,647     Airtel Africa PLC(a)    18,877  
  184,250     AJ Bell PLC    595,925  
  4,529     Allfunds Group PLC    28,679  
  21,216     Amcor PLC    201,039  
  16,561     Anglo American PLC    448,683  
  52,270     Ashtead Group PLC    3,147,631  
  233,274     Ashtead Technology Holdings PLC    1,757,931  
  549,966     Associated British Foods PLC    16,524,904  
  19,759     AstraZeneca PLC    2,528,322  
  76,572     AstraZeneca PLC, ADR    4,945,786  
  9,295     Auto Trader Group PLC(a)    85,152  
  39,724     Aviva PLC    209,536  
  408,595     B&M European Value Retail SA    2,965,867  
  793,216     BAE Systems PLC    10,524,091  
  128,811     Balfour Beatty PLC    529,126  
  209,456     Barclays PLC    375,928  
  15,283     Barratt Developments PLC    99,406  

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
United Kingdom - 9.3% - (continued)  
  7,702     Beazley PLC   $  52,239  
  1,676     Berkeley Group Holdings PLC    98,410  
  226,345     BP PLC    1,370,905  
  427,157     Bridgepoint Group PLC(a)    1,255,109  
  29,660     British American Tobacco PLC    943,844  
  165,082     British Land Co. PLC    734,996  
  85,872     BT Group PLC    133,641  
  4,681     Bunzl PLC    177,891  
  5,420     Burberry Group PLC    100,259  
  578,944     Bytes Technology Group PLC    3,956,009  
  7,121,767     Centrica PLC    13,423,701  
  13,282     CNH Industrial NV    141,267  
  24,293     Compass Group PLC    614,710  
  13,111     Computacenter PLC    449,232  
  24,862     ConvaTec Group PLC(a)    70,705  
  30,250     Croda International PLC    1,715,011  
  1,264     Dechra Pharmaceuticals PLC    61,019  
  247,615     Diageo PLC    8,667,258  
  234,803     DiscoverIE Group PLC   1,832,607  
  16,051     Dowlais Group PLC    20,763  
  119,966     Drax Group PLC    661,732  
  3,179,028     DS Smith PLC    11,675,205  
  43,099     Dunelm Group PLC    568,701  
  2,552     Endeavour Mining PLC    59,308  
  702,621     Entain PLC    7,143,450  
  2,764     Ferguson PLC    468,157  
  132,661     Future PLC    1,432,177  
  54,449     GSK PLC    979,338  
  1,772,350     Haleon PLC    7,432,548  
  5,064     Halma PLC    136,392  
  151,386     Harbour Energy PLC    440,382  
  5,744     Hargreaves Lansdown PLC    52,297  
  6,538     Howden Joinery Group PLC    60,482  
  263,439     HSBC Holdings PLC    2,008,689  
  333,160     IMI PLC    6,591,817  
  10,898     Imperial Brands PLC    254,459  
  88,698     Inchcape PLC    711,285  
  18,006     Informa PLC    169,070  
  2,320     InterContinental Hotels Group PLC    179,367  
  3,959     Intermediate Capital Group PLC    78,306  
  79,719     Intertek Group PLC    4,020,655  
  45,833     ITV PLC    34,925  
  21,877     J Sainsbury PLC    79,126  
  36,229     JD Sports Fashion PLC    71,886  
  46,604     JET2 PLC    708,946  
  2,570     Johnson Matthey PLC    50,353  
  1,122,782     Johnson Service Group PLC    1,866,019  
  70,321     Keller Group PLC    724,853  
  766,718     Kin & Carta PLC*(b)    997,044  
  29,261     Kingfisher PLC    81,095  
  10,290     Land Securities Group PLC    81,373  
  5,554,502     Legal & General Group PLC    16,146,367  
  866,710     Lloyds Banking Group PLC    476,849  
  41,611     London Stock Exchange Group PLC    4,681,877  

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
United Kingdom - 9.3% - (continued)  
  31,192     M&G PLC   $  82,657  
  371,007     Marks & Spencer Group PLC*    1,178,438  
  16,958     Melrose Industries PLC    111,148  
  6,867     Mondi PLC    122,382  
  340,401     Mortgage Advice Bureau Holdings Ltd.    3,053,001  
  48,999     National Grid PLC    636,060  
  2,640,641     NatWest Group PLC    6,953,252  
  1,585     Next PLC    159,077  
  180,523     Ocado Group PLC*    1,374,872  
  184,004     OSB Group PLC    871,829  
  309,651     Patisserie Holdings PLC*(b)(d)    3,909  
  11,096     Pearson PLC    131,460  
  670,304     Persimmon PLC    10,623,454  
  7,579     Phoenix Group Holdings PLC    44,699  
  9,639     Reckitt Benckiser Group PLC    658,233  
  244,217     Redde Northgate PLC    1,108,128  
  25,382     RELX PLC    976,427  
  480     Renishaw PLC    19,104  
  33,744     Rentokil Initial PLC    184,322  
  8,200     Rightmove PLC    56,609  
  14,769     Rio Tinto PLC    1,008,166  
  109,150     Rolls-Royce Holdings PLC*   370,950  
  6,351     RS GROUP PLC    60,135  
  15,581     Sage Group PLC    222,836  
  17,892     Schroders PLC    90,790  
  17,434     Segro PLC    178,946  
  4,586     Severn Trent PLC    150,903  
  89,711     Shell PLC    2,907,734  
  1,230,142     Smith & Nephew PLC    15,943,498  
  4,373     Smiths Group PLC    91,155  
  26,152     Spirax-Sarco Engineering PLC    3,061,351  
  14,705     SSE PLC    341,052  
  1,235,752     St James's Place PLC    10,140,439  
  30,004     Standard Chartered PLC    249,383  
  6,248     Tate & Lyle PLC    49,040  
  53,980     Taylor Wimpey PLC    88,644  
  90,148     Tesco PLC    325,732  
  60,529     Unilever PLC, EUR    2,883,643  
  33,543     Unilever PLC, GBP    1,598,225  
  5,277     UNITE Group PLC    64,909  
  11,093     United Utilities Group PLC    153,136  
  321,780     Vodafone Group PLC    290,409  
  2,681     Weir Group PLC    63,594  
  2,706     Whitbread PLC    105,867  
  15,059     Willis Towers Watson PLC    3,709,032  
  9,506     Wise PLC, Class A Shares*    94,282  
  13,986     WPP PLC    125,324  
  242,475     YouGov PLC    3,186,346  
  12,330     YuLife Holdings Ltd., Class C Shares*(b)@    277,602  
        Total United Kingdom   228,682,632  
United States - 1.8%  
  42,546     Agilent Technologies Inc.    5,437,379  
  35,129     Analog Devices Inc.    6,441,956  
  9,255     ANSYS Inc.*    2,715,047  

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

 

Shares/Units     Security Value  
United States - 1.8% - (continued)  
  13,008     BeiGene Ltd., ADR*   $  2,431,716  
  56,482     Bruker Corp.    3,676,413  
  44,835     Cadence Design Systems Inc.*    12,252,060  
  572     Canva Inc., Private Placement*(b)(d)@    536,124  
  97,853     Codere Online Luxembourg SA Forward Shares*(b)    321,936  
  24,735     Codere Online Luxembourg SA Founders Shares*(b)    81,378  
  1,830     Codere Online Luxembourg SA Private Shares*(b)    6,021  
  117,681     Coupang Inc., Class A Shares*    1,798,166  
  9,100     Estee Lauder Cos., Inc., Class A Shares    1,161,979  
  7,646     Linde PLC    3,163,685  
  7,469     Mastercard Inc., Class A Shares    3,090,896  
  1,640     MSCI Inc., Class A Shares    854,194  
  404     S&P Global Inc.    167,995  
  15,900     Samsonite International SA*(a)    46,409  
  8,367     Starbucks Corp.    830,843  
        Total United States   45,014,197  
Uruguay - 0.7%  
  10,191     MercadoLibre Inc.*    16,514,108  
        TOTAL COMMON STOCKS      
        (Cost - $1,999,157,615)   2,300,799,976  
EXCHANGE TRADED FUNDS (ETFs) - 3.7%  
United States - 3.7%  
  1,095,559     iShares Core MSCI Emerging Markets   54,394,504  
  658,265     iShares MSCI EAFE Value    33,248,965  
  25,100     Vanguard FTSE All World ex-US Small-Capital    2,772,295  
        Total United States   90,415,764  
        TOTAL EXCHANGE TRADED FUNDS (ETFs)      
        (Cost - $86,296,935)   90,415,764  
PREFERRED STOCKS - 0.4%  
Germany - 0.4%  
  100,524     Dr Ing hc F Porsche AG(a)    9,196,403  
United States - 0.0%  
  31     Canva Inc., Series A, Private Placement*(b)(d)@    29,056  
  1     Canva Inc., Series A-3, Private Placement*(b)(d)@    939  
        Total United States   29,995  
        TOTAL PREFERRED STOCKS      
        (Cost - $9,751,612)   9,226,398  
WARRANTS - 0.0%  
Canada – 0.0%  
  2,323     Constellation Software Inc.*(b)    –  
United States - 0.0%  
  915     Codere Online Luxembourg SA*    53  
        TOTAL WARRANTS      
        (Cost - $0)   53  
        TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS      
        (Cost - $2,095,206,162)   2,400,442,191  

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

 

Face
Amount†		     Security   Value  
SHORT-TERM INVESTMENTS - 1.8%  
TIME DEPOSITS - 1.8%  
  38,200 AUD    ANZ National Bank - Hong Kong, 2.900% due 12/1/23   $ 25,239  
      BNP Paribas SA - Paris:      
 3,809 CHF     0.560% due 12/1/23    4,350  
 189,441 GBP     4.160% due 12/1/23    239,170  
249,666 ZAR     6.570% due 12/1/23    13,243  
      Brown Brothers Harriman - Grand Cayman:      
131,459 DKK     2.500% due 12/1/23    19,197  
456,372 SEK     2.700% due 12/1/23    43,452  
3,297,645 NOK     3.090% due 12/1/23    304,680  
11,252 NZD     3.350% due 12/1/23    6,929  
766,252 GBP     4.160% due 12/1/23    967,393  
 1 ZAR     6.570% due 12/1/23    –  
212,789 EUR    Citibank - London, 2.810% due 12/1/23    231,642  
$ 29,761,848     Citibank - New York, 4.680% due 12/1/23    29,761,848  
1,266,396 HKD    Hong Kong & Shanghai Bank - Hong Kong, 3.220% due 12/1/23    162,121  
 36,499 SGD    Hong Kong & Shanghai Bank - Singapore, 2.500% due 12/1/23    27,286  
 1,661,523     JPMorgan Chase & Co. - New York, 4.680% due 12/1/23    1,661,523  
      Royal Bank of Canada - Toronto:      
 199,283 CAD     3.790% due 12/1/23    146,867  
10,090,067      4.680% due 12/1/23    10,090,067  
 140,024 EUR    Skandinaviska Enskilda Banken AB - Stockholm, 2.810% due 12/1/23    152,430  
      Sumitomo Mitsui Banking Corp. - Tokyo:      
47,022,449 JPY     (0.330)% due 12/1/23    317,194  
65,537      4.680% due 12/1/23    65,537  
      TOTAL TIME DEPOSITS      
      (Cost - $44,240,168)   44,240,168  
U.S. GOVERNMENT AGENCY - 0.0%  
 693,000     Federal Home Loan Bank Discount Notes, 5.200% due 12/1/23(e)      
      (Cost - $693,000)  

693,000

  
      TOTAL SHORT-TERM INVESTMENTS      
      (Cost - $44,933,168)   44,933,168  
             
Shares/Units          
           
INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING - 1.2%      
MONEY MARKET FUND - 1.2%  
29,074,552     Federated Government Obligations Fund, Premier Class, 5.213%(f)      
      (Cost - $29,074,552)  

29,074,552

  
      TOTAL INVESTMENTS - 100.9%      
      (Cost - $2,169,213,882)   2,474,449,911  
      Liabilities in Excess of Other Assets - (0.9)%   (22,274,778 )
      TOTAL NET ASSETS - 100.0%   $ 2,452,175,133  

 

 

 

  

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (continued)

 

 

† 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 November 30, 2023, amounts to $48,522,907 and represents 1.98% of net assets.  
(b) Illiquid security. The aggregate value of illiquid holdings at November 30, 2023, amounts to $13,730,654 and represents 0.56% of net assets.
(c) All or a portion of this security is on loan.
(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) Rate shown represents yield-to-maturity.
(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

 
Bumrungrad Hospital PCL  1/27/2023  $79,602   $433,138    0.02%
Canva Inc., Private Placement  8/16/2021   397,070    536,124    0.02%
Canva Inc., Series A, Private Placement  11/4/2021   52,848    29,056    0.00%*
Canva Inc., Series A-3, Private Placement  11/4/2021   1,705    939    0.00%*
Novatek PJSC, GDR  3/19/2020   251,081    112    0.00%*
Sberbank of Russia PJSC  4/6/2017   557,253    630    0.00%*
TCS Group Holding PLC, GDR  1/24/2022   381,460    2    0.00%*
YuLife Holdings Ltd., Class C Shares  10/11/2022   243,652    277,602    0.01%
           $1,277,603    0.05%

 

Abbreviations used in this schedule:
ADR — American Depositary Receipts
GDR — Global Depositary Receipts
PCL — Public Company Limited
PLC — Public Limited Company
REIT — Real Estate Investment Trust

  

Summary of Investments by Security Sector^        
Consumer Non-cyclical   18.3%
Financial   17.7 
Industrial   16.9 
Consumer Cyclical   10.8 
Technology   10.3 
Basic Materials   6.4 
Energy   5.4 
Communications   5.1 
Utilities   2.5 
Diversified   0.0*
Exchange Traded Funds (ETFs)   3.6 
Short-Term Investments   1.8 
Money Market Fund   1.2 
    100.0%

 

 

^ As a percentage of total investments.
* Position represents less than 0.005%.

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations International Equity Fund (concluded)

 

At November 30, 2023, Destinations International 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:                     
MSCI EAFE Index December Futures  5  12/23  $521,675   $531,650   $9,975 

 

At November 30, 2023, Destinations International Equity Fund had deposited cash of $7,315 with a broker or brokers as margin collateral on open exchange traded futures contracts.

  

Schedule of Options Contracts Written

Equity Options

 

Number of
Contracts		  Notional
Amount		  Security Name  Counterparty  Expiration
Date		  Exercise
Rate		   Value 
16  1,844,000 CHF  Partners Group Holding AG, Call  BBH  1/19/24  $1,200.00   $(4,294)
      TOTAL OPTION CONTRACTS WRITTEN             
      (Premiums received — $2,235)             $(4,294)

  

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:
BBH — Brown Brothers Harriman & Co.
MSCS — Morgan Stanley Capital Services  LLC

 

OTC Total Return Swaps
 
Currency  Notional
Amount		  Maturity
Date		  Counterparty    Payment
Frequency		  Pay  Receive  Unrealized
Appreciation/
(Depreciation)		 
USD  5,609,516  11/10/2025  MSCS    3-Month  1-Month FED + 0.40%  Investcorp Capital PLC  $(24,630)
USD  856,202  12/1/2025  MSCS    3-Month  1-Month FED + 0.40%  Dubai Taxi Co PJSC   (1)
USD  1,012  12/1/2025  MSCS    3-Month  1-Month FED + 0.40%  LS Materials  Ltd.   – 
                       $(24,631)

 

 

 

  

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund

 

Face
Amount/Units		   Security  Value 
MORTGAGE-BACKED SECURITIES - 25.4% 
FHLMC - 6.9% 
     Federal Home Loan Mortgage Corp. (FHLMC)., Gold:     
$514,535   2.000% due 5/1/36  $453,799 
 197,365   2.000% due 6/1/36   174,063 
 91,130   2.000% due 12/1/40   76,044 
 576,533   2.000% due 5/1/41   475,365 
 686,587   2.000% due 12/1/41   567,784 
 284,120   2.000% due 9/1/50   223,562 
 498,190   2.000% due 10/1/50   390,098 
 7,414,276   2.000% due 3/1/51   5,794,729 
 1,224,633   2.000% due 4/1/51   957,358 
 489,225   2.000% due 5/1/51   386,259 
 189,527   2.000% due 8/1/51   147,760 
 192,536   2.000% due 11/1/51   151,160 
 752,455   2.000% due 4/1/52   593,406 
 286,150   2.500% due 5/1/50   235,359 
 341,016   2.500% due 6/1/50   279,319 
 1,886,942   2.500% due 7/1/50   1,543,757 
 500,143   2.500% due 9/1/50   409,759 
 74,247   2.500% due 10/1/50   61,298 
 591,312   2.500% due 11/1/50   482,306 
 179,830   2.500% due 2/1/51   148,289 
 449,464   2.500% due 3/1/51   366,326 
 211,753   2.500% due 5/1/51   172,459 
 296,013   2.500% due 7/1/51   241,514 
 175,794   2.500% due 8/1/51   143,163 
 327,493   2.500% due 10/1/51   266,754 
 6,051,885   2.500% due 12/1/51   4,906,367 
 6,611,090   2.500% due 1/1/52   5,384,024 
 1,153,678   2.500% due 4/1/52   935,353 
 659,548   3.000% due 2/1/33   620,871 
 374,383   3.000% due 5/1/33   348,621 
 284,484   3.000% due 3/1/35   262,576 
 513,830   3.000% due 5/1/35   474,789 
 4,103,297   3.000% due 3/1/42   3,631,892 
 117,932   3.000% due 1/1/47   102,311 
 236,804   3.000% due 2/1/47   205,421 
 5,076,903   3.000% due 4/1/50   4,211,393 
 220,952   3.000% due 7/1/50   188,359 
 783,058   3.000% due 8/1/51   665,822 
 506,801   3.000% due 9/1/51   431,783 
 613,963   3.000% due 10/1/51   523,087 
 7,689,795   3.000% due 1/1/52   6,594,716 
 8,206,098   3.000% due 5/1/52   7,010,573 
 6,919,737   3.000% due 6/1/52   5,860,303 
 3,725,247   3.030% due 1/1/50   2,835,663 
 797,169   3.500% due 8/1/43   723,024 
 12,714,231   3.500% due 12/1/46   11,437,809 
 353,349   3.500% due 1/1/48   317,471 
 374,840   3.500% due 4/1/50   334,981 
 647,010   4.000% due 10/1/44   604,914 
 43,243   4.000% due 4/1/47   40,477 
 830,097   4.000% due 12/1/47   770,360 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security   Value 
FHLMC - 6.9% - (continued)     
$5,974,256   4.000% due 3/1/49  $5,527,862 
 720,688   4.000% due 4/1/49   667,513 
 157,249   4.000% due 5/1/49   146,789 
 518,255   4.000% due 7/1/49   482,021 
 9,905,214   4.000% due 8/1/51   9,176,246 
 13,202,384   4.350% due 10/1/32   12,332,304 
 7,700,000   4.380% due 5/1/28   7,452,674 
 306,507   4.500% due 5/1/48   291,252 
 5,538,083   4.500% due 7/1/52   5,190,153 
 7,600,000   4.840% due 4/1/30   7,464,501 
 185,489   5.000% due 8/1/52   179,046 
 6,421,968   5.000% due 9/1/52   6,190,752 
 871,132   5.000% due 10/1/52   839,796 
 849,123   5.000% due 1/1/53   817,266 
 1,751,348   5.000% due 4/1/53   1,686,038 
 654,841   5.500% due 2/1/53   647,962 
 7,105,415   5.500% due 5/1/53   7,002,198 
 450,701   6.000% due 12/1/52   456,026 
 191,145   6.000% due 3/1/53   193,294 
     TOTAL FHLMC   140,908,343 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security   Value 
FNMA - 16.0%       
     Federal National Mortgage Association (FNMA):     
$1,066,078   1.500% due 9/1/51  $786,835 
 250,257   1.500% due 10/1/51   184,576 
 146,890   1.500% due 11/1/51   108,317 
 865,844   1.500% due 4/1/52   639,490 
 556,304   2.000% due 5/1/36   490,632 
 714,888   2.000% due 6/1/36   630,536 
 551,784   2.000% due 8/1/36   486,639 
 355,861   2.000% due 9/1/36   313,843 
 297,203   2.000% due 12/1/36   262,108 
 360,036   2.000% due 9/1/40   300,504 
 854,369   2.000% due 12/1/40   713,054 
 391,460   2.000% due 4/1/41   323,776 
 121,179   2.000% due 5/1/41   100,217 
 495,675   2.000% due 10/1/41   409,911 
 11,474,504   2.000% due 8/1/50   9,017,959 
 1,282,222   2.000% due 9/1/50   1,009,011 
 834,172   2.000% due 12/1/50   654,689 
 3,862,437   2.000% due 2/1/51   3,039,520 
 5,980,085   2.000% due 3/1/51   4,675,715 
 2,974,956   2.000% due 4/1/51   2,326,778 
 14,309,970   2.000% due 5/1/51   11,177,911 
 146,679   2.000% due 7/1/51   114,723 
 11,810,000   2.000% due 12/1/53 (a)   9,170,280 
 225,065   2.250% due 4/1/33   180,223 
 88,579   2.500% due 6/1/30   84,018 
 1,210,000   2.500% due 12/1/38 (a)   1,087,649 
 5,940,735   2.500% due 2/1/47   4,931,961 
 315,730   2.500% due 4/1/50   258,044 
 309,514   2.500% due 6/1/50   253,080 
 317,557   2.500% due 7/1/50   261,599 
 524,125   2.500% due 9/1/50   427,716 
 6,018,725   2.500% due 10/1/50   4,964,852 
 9,904,770   2.500% due 11/1/50   8,073,941 
 300,892   2.500% due 1/1/51   247,243 
 1,095,660   2.500% due 2/1/51   890,352 
 5,236,360   2.500% due 5/1/51   4,273,295 
 1,290,587   2.500% due 6/1/51   1,045,912 
 437,513   2.500% due 7/1/51   356,900 
 10,839,400   2.500% due 8/1/51   8,795,842 
 282,252   2.500% due 9/1/51   229,920 
 8,517,783   2.500% due 10/1/51   6,916,459 
 10,080,080   2.500% due 11/1/51   8,213,849 
 6,656,701   2.500% due 12/1/51   5,400,973 
 502,402   2.500% due 1/1/52   411,326 
 7,372,449   2.500% due 2/1/52   5,979,186 
 723,658   2.500% due 3/1/52   587,973 
 402,323   2.500% due 4/1/52   327,725 
 654,087   2.500% due 1/1/57   529,810 
 4,443,000   2.760% due 9/1/31   3,839,548 
 331,249   3.000% due 2/1/30   315,860 
 207,972   3.000% due 10/1/30   197,636 
 475,170   3.000% due 1/1/31   453,067 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security   Value 
FNMA - 16.0% - (continued)       
$997,039   3.000% due 11/1/36  $905,320 
 3,481,969   3.000% due 3/1/43   3,071,884 
 6,440,746   3.000% due 6/1/43   5,674,194 
 115,221   3.000% due 11/1/48   99,467 
 4,095,789   3.000% due 11/1/49   3,507,311 
 54,329   3.000% due 12/1/49   46,523 
 218,205   3.000% due 2/1/50   187,424 
 904,441   3.000% due 8/1/50   771,222 
 377,365   3.000% due 10/1/50   321,075 
 2,446,140   3.000% due 11/1/50   2,106,509 
 516,854   3.000% due 12/1/50   439,758 
 437,951   3.000% due 5/1/51   376,476 
 96,552   3.000% due 6/1/51   81,902 
 799,080   3.000% due 7/1/51   679,251 
 1,024,268   3.000% due 8/1/51   870,418 
 863,229   3.000% due 9/1/51   735,122 
 1,282,997   3.000% due 10/1/51   1,090,971 
 1,207,111   3.000% due 11/1/51   1,024,365 
 638,558   3.000% due 12/1/51   542,824 
 301,192   3.000% due 1/1/52   254,933 
 6,829,558   3.000% due 2/1/52   5,784,837 
 339,542   3.000% due 4/1/52   290,124 
 463,592   3.000% due 5/1/52   394,018 
 4,150,249   3.000% due 4/1/53   3,551,620 
 217,121   3.500% due 7/1/32   209,981 
 668,142   3.500% due 3/1/33   642,868 
 399,186   3.500% due 7/1/37   369,412 
 624,052   3.500% due 3/1/46   560,984 
 670,369   3.500% due 5/1/47   608,077 
 806,445   3.500% due 11/1/47   722,811 
 450,657   3.500% due 7/1/50   401,483 
 169,188   3.500% due 9/1/50   151,190 
 9,897,738   3.500% due 11/1/50   8,830,067 
 634,783   3.500% due 1/1/51   564,761 
 1,396,166   3.500% due 2/1/51   1,246,719 
 7,293,322   3.500% due 7/1/51   6,488,738 
 695,734   3.500% due 4/1/52   615,519 
 1,325,000   3.500% due 12/1/53 (a)   1,161,725 
 475,000   3.520% due 11/1/32   424,079 
 7,911,024   3.720% due 6/1/32   7,101,278 
 290,472   4.000% due 8/1/38   278,958 
 447,788   4.000% due 11/1/38   428,879 
 90,318   4.000% due 3/1/46   84,539 
 569,526   4.000% due 3/1/47   529,208 
 55,142   4.000% due 12/1/47   51,299 
 79,572   4.000% due 2/1/48   73,819 
 875,916   4.000% due 6/1/48   813,973 
 1,110,407   4.000% due 10/1/48   1,031,162 
 114,779   4.000% due 1/1/49   107,436 
 943,731   4.000% due 4/1/49   866,976 
 149,500   4.000% due 5/1/49   138,925 
 40,068   4.000% due 8/1/49   37,507 
 649,499   4.000% due 4/1/50   602,332 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security   Value 
FNMA - 16.0% - (continued)     
$407,534   4.000% due 8/1/51  $378,100 
 460,819   4.000% due 6/1/52   419,775 
 4,164,507   4.000% due 7/1/52   3,781,897 
 387,764   4.030% due 6/1/28   373,498 
 475,000   4.190% due 4/1/28   460,879 
 200,000   4.210% due 3/1/33   188,050 
 166,737   4.370% due 5/1/28   163,534 
 290,000   4.410% due 4/1/30   280,944 
 452,369   4.460% due 5/1/28   443,545 
 367,009   4.500% due 12/1/37   360,416 
 450,000   4.500% due 12/1/38 (a)   438,781 
 223,126   4.500% due 5/1/48   212,802 
 225,404   4.500% due 6/1/48   214,528 
 3,779,949   4.500% due 10/1/50   3,604,045 
 3,925,278   4.500% due 7/1/52   3,677,959 
 861,562   4.500% due 3/1/53   807,317 
 21,832,000   4.500% due 12/1/53 (a)   20,440,939 
 213,488   4.510% due 5/1/33   205,490 
 203,554   4.640% due 10/1/33   196,849 
 120,000   4.750% due 4/1/28   119,266 
 641,414   5.000% due 7/1/52   619,136 
 22,049,816   5.000% due 9/1/52   21,256,820 
 1,504,071   5.000% due 10/1/52   1,449,392 
 141,052   5.000% due 11/1/52   136,012 
 2,393,527   5.000% due 12/1/52   2,307,167 
 4,457,998   5.000% due 3/1/53   4,291,675 
 12,073,128   5.000% due 4/1/53   11,624,009 
 447,680   5.500% due 10/1/52   442,977 
 831,072   5.500% due 11/1/52   819,937 
 1,412,948   5.500% due 12/1/52   1,395,029 
 6,307,668   5.500% due 1/1/53   6,225,885 
 6,138,658   5.500% due 2/1/53   6,050,289 
 764,726   5.500% due 6/1/53   754,139 
 12,311,000   5.500% due 12/1/53 (a)   12,130,063 
 1,160,748   5.889% due 5/1/44 (b)   1,186,650 
 477,139   6.000% due 5/1/53   483,612 
 24,025,000   6.000% due 12/1/53 (a)   24,091,705 
 1,200,000   6.500% due 12/1/53 (a)   1,218,937 
 7,100,000   7.000% due 12/1/53 (a)   7,285,514 
     TOTAL FNMA   324,962,798 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security   Value 
GNMA - 2.5%       
     Government National Mortgage Association (GNMA):     
$3,580,000   2.000% due 12/1/53 (a)  $2,888,333 
 1,635,000   2.500% due 12/1/53 (a)   1,364,714 
 3,087,000   3.500% due 12/1/53 (a)   2,759,175 
 3,285,000   4.000% due 12/1/53 (a)   3,025,729 
 3,980,000   4.500% due 12/1/53 (a)   3,763,720 
 1,635,000   5.000% due 12/1/53 (a)   1,588,100 
 4,525,000   5.500% due 12/1/53 (a)   4,491,697 
     Government National Mortgage Association (GNMA) II:     
 661,918   2.000% due 10/20/50   534,686 
 1,466,472   2.000% due 12/20/50   1,184,547 
 639,575   2.500% due 11/20/49   536,821 
 500,548   2.500% due 3/20/51   418,122 
 681,914   2.500% due 9/20/51   569,622 
 6,352,704   2.500% due 10/20/51   5,291,795 
 248,692   3.000% due 4/20/31   236,073 
 496,223   3.000% due 6/20/50   421,915 
 93,628   3.000% due 12/20/50   81,591 
 2,261,270   3.000% due 4/20/51   1,964,526 
 845,822   3.000% due 8/20/51   733,793 
 841,725   3.000% due 9/20/51   729,084 
 2,215,925   3.000% due 12/20/51   1,918,650 
 493,642   3.000% due 12/20/52   427,458 
 114,688   3.500% due 8/20/42   104,646 
 434,082   3.500% due 10/20/43   396,684 
 77,496   3.500% due 12/20/43   70,754 
 346,776   3.500% due 3/20/44   316,314 
 15,586   3.500% due 7/20/44   14,187 
 381,865   3.500% due 6/20/46   346,478 
 320,407   3.500% due 2/20/49   289,819 
 337,682   3.500% due 6/20/50   304,981 
 650,584   3.500% due 9/20/50   586,441 
 3,018,301   3.500% due 10/20/51   2,703,891 
 4,511,369   3.500% due 2/20/52   4,032,880 
 1,033,537   3.500% due 1/20/53   923,876 
 482,056   4.000% due 10/20/44   456,622 
 320,530   4.000% due 2/20/45   303,603 
 218,697   4.000% due 10/20/45   206,366 
 273,672   4.000% due 2/20/47   256,511 
 570,303   4.000% due 10/20/48   532,091 
 469,770   4.000% due 3/20/49   439,049 
 1,296,576   4.000% due 2/20/52   1,195,958 
 627,037   4.500% due 2/20/40   609,035 
 213,071   4.500% due 7/20/49   203,879 
 218,686   4.500% due 8/20/49   208,487 
 304,311   4.500% due 8/20/52   288,065 
 283,210   4.500% due 9/20/52   268,031 
 1,260,445   4.500% due 10/20/52   1,192,110 
 282,087   5.000% due 5/20/40   283,268 
 224,150   5.000% due 6/20/40   225,088 
 88,035   5.000% due 7/20/40   88,403 
     TOTAL GNMA   51,777,668 
     TOTAL MORTGAGE-BACKED SECURITIES     
     (Cost - $560,106,100)   517,648,809 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security   Value 
CORPORATE BONDS & NOTES - 22.6%     
Basic Materials - 0.7%     
$570,000   Anglo American Capital PLC, Company Guaranteed Notes, 3.875% due 3/16/29(c)  $521,967 
 200,000   AngloGold Ashanti Holdings PLC, Company Guaranteed Notes, 3.750% due 10/1/30   168,422 
 3,570,000   ArcelorMittal SA, Senior Unsecured Notes, 6.800% due 11/29/32   3,675,558 
 40,000   Arsenal AIC Parent LLC, Senior Secured Notes, 8.000% due 10/1/30(c)   40,812 
 90,000   ASP Unifrax Holdings Inc., Senior Secured Notes, 5.250% due 9/30/28(c)   61,867 
     BHP Billiton Finance USA Ltd., Company Guaranteed Notes:     
 475,000   5.250% due 9/8/30   479,515 
 385,000   4.900% due 2/28/33   379,072 
 400,000   Braskem Netherlands Finance BV, Company Guaranteed Notes, 8.500% (5-Year CMT Index + 8.220%) due 1/23/81(b)   394,020 
 400,000   CAP SA, Senior Unsecured Notes, 3.900% due 4/27/31   292,431 
     Celanese US Holdings LLC, Company Guaranteed Notes:     
 735,000   6.165% due 7/15/27   741,477 
 380,000   6.550% due 11/15/30   389,668 
 555,000   Corp. Nacional del Cobre de Chile, Senior Unsecured Notes, 5.950% due 1/8/34(c)   543,441 
 200,000   CSN Resources SA, Company Guaranteed Notes, 5.875% due 4/8/32   165,605 
 75,000   CVR Partners LP/CVR Nitrogen Finance Corp., Senior Secured Notes, 6.125% due 6/15/28(c)   68,809 
     Freeport-McMoRan Inc., Company Guaranteed Notes:     
 100,000   4.375% due 8/1/28   93,763 
 100,000   4.625% due 8/1/30   92,906 
 490,000   Georgia-Pacific LLC, Senior Unsecured Notes, 3.600% due 3/1/25(c)   478,599 
     Glencore Funding LLC, Company Guaranteed Notes:     
 315,000   1.625% due 4/27/26(c)   287,868 
 720,000   6.375% due 10/6/30(c)   744,431 
 245,000   2.850% due 4/27/31(c)   200,898 
 185,000   2.625% due 9/23/31(c)   148,870 
 380,000   5.700% due 5/8/33(c)   378,718 
 105,000   Illuminate Buyer LLC/Illuminate Holdings IV Inc., Senior Unsecured Notes, 9.000% due 7/1/28(c)   98,700 
 90,000   Mativ Holdings Inc., Company Guaranteed Notes, 6.875% due 10/1/26(c)   83,039 
 200,000   MEGlobal Canada ULC, Company Guaranteed Notes, 5.000% due 5/18/25   196,020 
 300,000   Nexa Resources SA, Company Guaranteed Notes, 5.375% due 5/4/27   282,737 
 115,000   Novelis Corp., Company Guaranteed Notes, 4.750% due 1/30/30(c)   104,402 
 200,000   Olympus Water US Holding Corp., Senior Secured Notes, 4.250% due 10/1/28(c)   173,508 
 1,840,000   RPM International Inc., Senior Unsecured Notes, 2.950% due 1/15/32   1,479,432 
 400,000   Sasol Financing USA LLC, Company Guaranteed Notes, 5.500% due 3/18/31   325,989 
 680,000   Sherwin-Williams Co., Senior Unsecured Notes, 2.300% due 5/15/30   570,403 
 50,000   SK Invictus Intermediate II SARL, Senior Secured Notes, 5.000% due 10/30/29(c)   40,632 
 45,000   TMS International Corp., Senior Unsecured Notes, 6.250% due 4/15/29(c)   35,683 
 400,000   UPL Corp., Ltd, Company Guaranteed Notes, 4.625% due 6/16/30   318,444 
 400,000   Vedanta Resources Finance II PLC, Company Guaranteed Notes, 9.250% due 4/23/26(c)   225,788 
 165,000   WR Grace Holdings LLC, Senior Unsecured Notes, 5.625% due 8/15/29(c)   138,892 
     Total Basic Materials   14,422,386 
Communications - 2.2%     
 200,000   Acuris Finance U.S. Inc./Acuris Finance SARL, Senior Secured Notes, 5.000% due 5/1/28(c)   159,586 
 200,000   Altice France SA, Senior Secured Notes, 5.500% due 10/15/29(c)   144,305 
 50,000   Arches Buyer Inc., Senior Secured Notes, 4.250% due 6/1/28(c)   43,564 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security   Value 
Communications - 2.2% - (continued)     
     AT&T Inc., Senior Unsecured Notes:     
$145,000   2.750% due 6/1/31  $121,931 
 4,341,000   2.250% due 2/1/32   3,440,456 
 5,205,000   2.550% due 12/1/33   4,051,816 
 320,000   5.400% due 2/15/34   316,299 
 200,000   C&W Senior Financing DAC, Senior Unsecured Notes, 6.875% due 9/15/27   182,494 
     CCO Holdings LLC/CCO Holdings Capital Corp., Senior Unsecured Notes:     
 150,000   5.125% due 5/1/27(c)   142,718 
 265,000   4.750% due 3/1/30(c)   231,918 
 125,000   4.500% due 8/15/30(c)   107,252 
 95,000   4.750% due 2/1/32(c)   79,799 
 60,000   4.250% due 1/15/34(c)   46,804 
     Charter Communications Operating LLC/Charter Communications Operating Capital, Senior Secured Notes:     
 360,000   4.200% due 3/15/28   338,781 
 785,000   2.300% due 2/1/32   600,357 
 3,965,000   6.384% due 10/23/35   3,892,671 
 156,000   3.500% due 3/1/42   103,127 
 1,470,000   4.800% due 3/1/50   1,093,522 
 175,000   3.700% due 4/1/51   108,290 
 75,000   3.900% due 6/1/52   47,982 
 185,000   4.400% due 12/1/61   121,508 
     Clear Channel Outdoor Holdings Inc.:     
 50,000   Company Guaranteed Notes, 7.500%  due 6/1/29(c)   39,409 
 45,000   Senior Secured Notes, 9.000%  due 9/15/28(c)   45,450 
     Comcast Corp., Company Guaranteed Notes:     
 690,000   4.800% due 5/15/33   672,308 
 1,075,000   3.750% due 4/1/40   875,703 
 789,000   2.937% due 11/1/56   482,069 
 80,000   CommScope Inc., Senior Secured Notes, 4.750% due 9/1/29(c)   50,200 
 45,000   CommScope Technologies LLC, Company Guaranteed Notes, 5.000% due 3/15/27(c)   19,125 
 80,000   Consolidated Communications Inc., Senior Secured Notes, 5.000% due 10/1/28(c)   62,600 
 430,000   Cox Communications Inc., Senior Unsecured Notes, 2.600% due 6/15/31(c)   348,067 
 2,766,000   Crown Castle Towers LLC, Asset Backed, 4.241% due 7/15/28(c)   2,560,453 
 200,000   CSC Holdings LLC, Company Guaranteed Notes, 6.500% due 2/1/29(c)   169,156 
 200,000   CT Trust, Senior Secured Notes, 5.125% due 2/3/32   166,160 
     Digicel Group Holdings Ltd.:     
 42,168   Senior Unsecured Notes, 8.000%  due 4/1/25(c)(d)(e)   9,699 
 85,477   Subordinated Notes, 7.000%  (c)(f)(g)   6,411 
 90,000   Directv Financing LLC/Directv Financing Co.-Obligor Inc., Senior Secured Notes, 5.875% due 8/15/27(c)   80,986 
     Discovery Communications LLC, Company Guaranteed Notes:     
 54,000   4.125% due 5/15/29   49,817 
 145,000   3.625% due 5/15/30   128,132 
 236,000   5.200% due 9/20/47   190,800 
 309,000   5.300% due 5/15/49   252,058 
 880,000   4.650% due 5/15/50   664,525 
     DISH DBS Corp.:     
     Company Guaranteed Notes:     
 15,000   5.875%  due 11/15/24   13,168 
 75,000   5.125%  due 6/1/29   33,981 
 140,000   Senior Secured Notes, 5.750%  due 12/1/28(c)   103,696 
 65,000   Embarq Corp., Senior Unsecured Notes, 7.995% due 6/1/36   37,369 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security   Value 
Communications - 2.2% - (continued)     
     Expedia Group Inc., Company Guaranteed Notes:     
$365,000   5.000% due 2/15/26  $361,428 
 640,000   3.800% due 2/15/28   600,862 
     Frontier Communications Holdings LLC:     
     Senior Secured Notes:     
 45,000   5.875%  due 10/15/27(c)   42,276 
 90,000   5.000%  due 5/1/28(c)   80,745 
 54,900   Secured Notes, 5.875%  due 11/1/29   43,941 
 135,000   GCI LLC, Senior Unsecured Notes, 4.750% due 10/15/28(c)   121,200 
     Intelsat Jackson Holdings SA:     
 110,000   Company Guaranteed Notes, 5.500%  due 8/1/24(d)   – 
 90,000   Senior Secured Notes, 6.500%  due 3/15/30(c)   83,400 
 2,990,000   Interpublic Group of Cos., Inc., Senior Unsecured Notes, 2.400% due 3/1/31   2,433,341 
     Level 3 Financing Inc.:     
 40,000   Company Guaranteed Notes, 3.750%  due 7/15/29(c)   14,400 
 110,000   Senior Secured Notes, 10.500%  due 5/15/30(c)   102,025 
 45,000   Lumen Technologies Inc., Senior Secured Notes, 4.000% due 2/15/27(c)   23,774 
 150,000   Match Group Holdings II LLC, Senior Unsecured Notes, 5.000% due 12/15/27(c)   143,634 
 110,000   McGraw-Hill Education Inc., Senior Secured Notes, 5.750% due 8/1/28(c)   100,375 
 475,000   Meta Platforms Inc., Senior Unsecured Notes, 5.600% due 5/15/53   482,610 
 360,000   Millicom International Cellular SA, Senior Unsecured Notes, 6.250% due 3/25/29   332,705 
 200,000   Network i2i Ltd., Company Guaranteed Notes, 5.650% (5-Year CMT Index + 4.274%) (b)(f)   196,874 
 45,000   News Corp., Company Guaranteed Notes, 5.125% due 2/15/32(c)   40,660 
 575,000   Omnicom Group Inc., Senior Unsecured Notes, 2.450% due 4/30/30   481,642 
 55,000   Outfront Media Capital LLC/Outfront Media Capital Corp., Senior Secured Notes, 7.375% due 2/15/31(c)   56,402 
     Paramount Global, Senior Unsecured Notes:     
 343,000   4.950% due 1/15/31   310,624 
 150,000   4.200% due 5/19/32   126,824 
 360,000   4.375% due 3/15/43   245,210 
 100,000   5.850% due 9/1/43   81,757 
     Radiate Holdco LLC/Radiate Finance Inc.:     
 35,000   Senior Secured Notes, 4.500%  due 9/15/26(c)   26,072 
 40,000   Senior Unsecured Notes, 6.500%  due 9/15/28(c)   18,734 
 350,000   Rogers Communications Inc., Company Guaranteed Notes, 3.800% due 3/15/32   304,654 
 50,000   Scripps Escrow II Inc., Senior Secured Notes, 3.875% due 1/15/29(c)   42,028 
 230,000   Sirius XM Radio Inc., Company Guaranteed Notes, 5.500% due 7/1/29(c)   213,707 
 2,605,500   Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC, Senior Secured Notes, 5.152% due 3/20/28(c)   2,568,594 
 30,000   Telesat Canada/Telesat LLC, Company Guaranteed Notes, 6.500% due 10/15/27(c)   14,075 
     T-Mobile USA Inc., Company Guaranteed Notes:     
 770,000   2.250% due 2/15/26   719,785 
 915,000   3.875% due 4/15/30   840,441 
 2,001,000   2.875% due 2/15/31   1,695,506 
 375,000   5.050% due 7/15/33   363,597 
 325,000   5.750% due 1/15/34   330,873 
 95,000   Townsquare Media Inc., Senior Secured Notes, 6.875% due 2/1/26(c)   91,570 
     Univision Communications Inc., Senior Secured Notes:     
 75,000   4.500% due 5/1/29(c)   65,807 
 35,000   7.375% due 6/30/30(c)   34,349 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security   Value 
Communications - 2.2% - (continued)     
     Verizon Communications Inc., Senior Unsecured Notes:     
$9,136,000   1.750% due 1/20/31  $7,201,194 
 141,000   2.550% due 3/21/31   117,081 
 1,155,000   2.355% due 3/15/32   921,330 
 200,000   VTR Finance NV, Senior Unsecured Notes, 6.375% due 7/15/28   33,365 
 200,000   VZ Secured Financing BV, Senior Secured Notes, 5.000% due 1/15/32(c)   164,033 
     Total Communications   44,710,026 
Consumer Cyclical - 1.9%     
 140,000   Academy Ltd., Senior Secured Notes, 6.000% due 11/15/27(c)   136,608 
 65,000   Acushnet Co., Company Guaranteed Notes, 7.375% due 10/15/28(c)   66,756 
 5,000,000   Advance Auto Parts Inc., Company Guaranteed Notes, 3.900% due 4/15/30   4,174,412 
 140,000   Air Canada, Senior Secured Notes, 3.875% due 8/15/26(c)   130,678 
 40,000   AMC Entertainment Holdings Inc., Senior Secured Notes, 7.500% due 2/15/29(c)   27,148 
     American Airlines Inc., Senior Secured Notes:     
 140,000   7.250% due 2/15/28(c)   138,270 
 130,000   8.500% due 5/15/29(c)(h)   134,100 
 140,000   American Airlines Inc./AAdvantage Loyalty IP Ltd., Senior Secured Notes, 5.750% due 4/20/29(c)   134,125 
 60,000   American Axle & Manufacturing Inc., Company Guaranteed Notes, 5.000% due 10/1/29   49,656 
 145,000   Ashton Woods USA LLC/Ashton Woods Finance Co., Senior Unsecured Notes, 4.625% due 4/1/30(c)   120,973 
     AutoZone Inc., Senior Unsecured Notes:     
 1,702,000   1.650% due 1/15/31   1,328,176 
 475,000   6.550% due 11/1/33   506,374 
 120,000   BCPE Empire Holdings Inc., Senior Unsecured Notes, 7.625% due 5/1/27(c)   114,590 
 115,000   Beacon Roofing Supply Inc., Senior Secured Notes, 6.500% due 8/1/30(c)   114,872 
 110,000   Caesars Entertainment Inc., Senior Unsecured Notes, 4.625% due 10/15/29(c)   96,658 
     Carnival Corp.:     
 190,000   Company Guaranteed Notes, 5.750%  due 3/1/27(c)   180,609 
 135,000   Secured Notes, 9.875%  due 8/1/27(c)   141,079 
 95,000   Senior Secured Notes, 7.000%  due 8/15/29(c)   96,858 
 280,000   Cedar Fair LP, Company Guaranteed Notes, 5.250% due 7/15/29   256,018 
 140,000   Clarios Global LP/Clarios US Finance Co., Senior Secured Notes, 6.750% due 5/15/28(c)   141,256 
     Dana Inc., Senior Unsecured Notes:     
 45,000   5.375% due 11/15/27   42,717 
 20,000   4.250% due 9/1/30   16,975 
 60,000   Dealer Tire LLC/DT Issuer LLC, Senior Unsecured Notes, 8.000% due 2/1/28(c)   56,883 
     Dollar General Corp., Senior Unsecured Notes:     
 245,000   4.250% due 9/20/24   241,620 
 540,000   3.500% due 4/3/30   482,128 
 445,000   Dollar Tree Inc., Senior Unsecured Notes, 4.000% due 5/15/25   433,282 
 115,000   Dornoch Debt Merger Sub Inc., Senior Unsecured Notes, 6.625% due 10/15/29(c)   98,089 
 165,000   Everi Holdings Inc., Company Guaranteed Notes, 5.000% due 7/15/29(c)   144,639 
 70,000   Ferrellgas LP/Ferrellgas Finance Corp., Senior Unsecured Notes, 5.375% due 4/1/26(c)   66,877 
 145,000   Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc., Company Guaranteed Notes, 6.750% due 1/15/30(c)   122,358 
 305,000   Ford Motor Co., Senior Unsecured Notes, 3.250% due 2/12/32   243,274 
 50,000   Full House Resorts Inc., Senior Secured Notes, 8.250% due 2/15/28(c)   44,923 
 90,000   Gap Inc., Company Guaranteed Notes, 3.875% due 10/1/31(c)   71,085 
     General Motors Financial Co., Inc., Senior Unsecured Notes:     
 280,000   2.400% due 10/15/28   239,987 
 120,000   3.100% due 1/12/32   97,647 
 125,000   Goodyear Tire & Rubber Co., Company Guaranteed Notes, 5.250% due 7/15/31   108,437 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security   Value 
Consumer Cyclical - 1.9% - (continued)     
$150,000   Group 1 Automotive Inc., Company Guaranteed Notes, 4.000% due 8/15/28(c)  $135,178 
 365,000   Hyundai Capital America, Senior Unsecured Notes, 5.680% due 6/26/28(c)   363,277 
 155,000   Installed Building Products Inc., Company Guaranteed Notes, 5.750% due 2/1/28(c)   145,852 
 65,000   Light & Wonder International Inc., Company Guaranteed Notes, 7.250% due 11/15/29(c)   65,162 
 40,000   Lions Gate Capital Holdings LLC, Company Guaranteed Notes, 5.500% due 4/15/29(c)   24,810 
 70,000   Live Nation Entertainment Inc., Senior Secured Notes, 6.500% due 5/15/27(c)   69,979 
     Lowe's Cos., Inc., Senior Unsecured Notes:     
 560,000   4.400% due 9/8/25   551,800 
 4,515,000   4.250% due 4/1/52   3,544,998 
 100,000   LSF9 Atlantis Holdings LLC/Victra Finance Corp., Senior Secured Notes, 7.750% due 2/15/26(c)   93,683 
 130,000   M/I Homes Inc., Company Guaranteed Notes, 4.950% due 2/1/28   123,573 
 65,000   Macy's Retail Holdings LLC, Company Guaranteed Notes, 5.875% due 4/1/29(c)   61,093 
 575,000   Marriott International Inc., Senior Unsecured Notes, 2.850% due 4/15/31   479,709 
 175,000   Mattamy Group Corp., Senior Unsecured Notes, 4.625% due 3/1/30(c)   154,084 
     Michaels Cos., Inc.:     
 80,000   Senior Secured Notes, 5.250%  due 5/1/28(c)   58,394 
 70,000   Senior Unsecured Notes, 7.875%  due 5/1/29(c)   39,794 
 110,000   Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp., Senior Secured Notes, 4.875% due 5/1/29(c)   97,992 
 120,000   Murphy Oil USA Inc., Company Guaranteed Notes, 4.750% due 9/15/29   111,070 
     NCL Corp., Ltd.:     
 85,000   Company Guaranteed Notes, 5.875%  due 3/15/26(c)   80,537 
 85,000   Senior Secured Notes, 8.375%  due 2/1/28(c)   87,928 
 130,000   Ontario Gaming GTA LP, Senior Secured Notes, 8.000% due 8/1/30(c)   131,314 
     O'Reilly Automotive Inc., Senior Unsecured Notes:     
 120,000   5.750% due 11/20/26   121,364 
 605,000   4.700% due 6/15/32   577,587 
 55,000   Penn Entertainment Inc., Senior Unsecured Notes, 4.125% due 7/1/29(c)   45,650 
 250,000   PetSmart Inc./PetSmart Finance Corp., Senior Secured Notes, 4.750% due 2/15/28(c)   228,627 
 70,000   Premier Entertainment Sub LLC/Premier Entertainment Finance Corp., Company Guaranteed Notes, 5.625% due 9/1/29(c)   50,660 
     Royal Caribbean Cruises Ltd.:     
 20,000   Company Guaranteed Notes, 7.250%  due 1/15/30(c)   20,372 
 135,000   Senior Unsecured Notes, 5.500%  due 8/31/26(c)   131,328 
 145,000   Scientific Games Holdings LP/Scientific Games US FinCo Inc., Senior Unsecured Notes, 6.625% due 3/1/30(c)   129,775 
 100,000   Scotts Miracle-Gro Co., Company Guaranteed Notes, 4.500% due 10/15/29   85,265 
 120,000   Sonic Automotive Inc., Company Guaranteed Notes, 4.625% due 11/15/29(c)   105,777 
 6,250,000   Southwest Airlines Co., Senior Unsecured Notes, 5.125% due 6/15/27   6,179,051 
     SRS Distribution Inc.:     
 75,000   Company Guaranteed Notes, 6.125%  due 7/1/29(c)   66,242 
 70,000   Senior Secured Notes, 4.625%  due 7/1/28(c)   63,902 
     Staples Inc.:     
 70,000   Senior Secured Notes, 7.500%  due 4/15/26(c)   61,950 
 35,000   Senior Unsecured Notes, 10.750%  due 4/15/27(c)   22,764 
 70,000   Station Casinos LLC, Company Guaranteed Notes, 4.625% due 12/1/31(c)   59,478 
 3,010,000   Steelcase Inc., Senior Unsecured Notes, 5.125% due 1/18/29   2,759,293 
 120,000   Suburban Propane Partners LP/Suburban Energy Finance Corp., Senior Unsecured Notes, 5.000% due 6/1/31(c)   106,200 
 120,000   Superior Plus LP/Superior General Partner Inc., Company Guaranteed Notes, 4.500% due 3/15/29(c)   105,671 
 50,000   SWF Escrow Issuer Corp., Senior Unsecured Notes, 6.500% due 10/1/29(c)   31,375 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security   Value 
Consumer Cyclical - 1.9% - (continued)     
$215,000   Tapestry Inc., Senior Unsecured Notes, 7.050% due 11/27/25  $217,664 
 531,523   United Airlines 2012-1 Class A Pass-Through Trust, Pass-Thru Certificates, 4.150% due 4/11/24   526,901 
 1,458,333   United Airlines 2016-2 Class B Pass-Through Trust, Pass-Thru Certificates, 3.650% due 10/7/25   1,366,168 
 165,000   United Airlines Inc., Senior Secured Notes, 4.625% due 4/15/29(c)   147,297 
 70,000   Victoria's Secret & Co., Company Guaranteed Notes, 4.625% due 7/15/29(c)   56,804 
     Viking Cruises Ltd.:     
 145,000   Company Guaranteed Notes, 5.875%  due 9/15/27(c)   136,515 
 125,000   Senior Unsecured Notes, 9.125%  due 7/15/31(c)   130,008 
 5,000,000   Volkswagen Group of America Finance LLC, Company Guaranteed Notes, 1.250% due 11/24/25(c)   4,594,318 
     Warnermedia Holdings Inc., Company Guaranteed Notes:     
 615,000   4.279% due 3/15/32   542,530 
 2,705,000   5.141% due 3/15/52   2,162,000 
 40,000   Wheel Pros Inc., Senior Unsecured Notes, 6.500% due 5/15/29(c)   12,600 
 155,000   Wyndham Hotels & Resorts Inc., Company Guaranteed Notes, 4.375% due 8/15/28(c)   142,664 
 130,000   Yum! Brands Inc., Senior Unsecured Notes, 4.750% due 1/15/30(c)   120,829 
     Total Consumer Cyclical   38,128,993 
Consumer Non-cyclical - 1.8%     
 485,000   AbbVie Inc., Senior Unsecured Notes, 3.850% due 6/15/24   479,924 
 266,250   Adani International Container Terminal Pvt Ltd., Senior Secured Notes, 3.000% due 2/16/31(c)   213,666 
     Adani Ports & Special Economic Zone Ltd., Senior Unsecured Notes:     
 200,000   4.000% due 7/30/27   172,091 
 200,000   4.375% due 7/3/29   164,276 
 135,000   AdaptHealth LLC, Company Guaranteed Notes, 5.125% due 3/1/30(c)   107,488 
 300,000   Agrosuper SA, Senior Unsecured Notes, 4.600% due 1/20/32   247,262 
 35,000   Air Methods Corp., Senior Unsecured Notes, 8.000% due 5/15/25(c)(d)(e)   175 
     Alcon Finance Corp., Company Guaranteed Notes:     
 995,000   2.750% due 9/23/26(c)   926,510 
 290,000   2.600% due 5/27/30(c)   242,709 
     Allied Universal Holdco LLC/Allied Universal Finance Corp.:     
 115,000   Senior Secured Notes, 6.625%  due 7/15/26(c)   111,744 
 90,000   Senior Unsecured Notes, 9.750%  due 7/15/27(c)   82,810 
     Amgen Inc., Senior Unsecured Notes:     
 375,000   5.150% due 3/2/28   375,781 
 255,000   5.250% due 3/2/30   256,302 
 2,765,000   5.250% due 3/2/33   2,737,027 
 425,000   5.750% due 3/2/63   415,900 
 115,000   APi Group DE Inc., Company Guaranteed Notes, 4.750% due 10/15/29(c)   102,920 
 355,000   Bacardi Ltd./Bacardi-Martini BV, Senior Unsecured Notes, 5.400% due 6/15/33(c)   344,297 
 170,000   Bausch & Lomb Escrow Corp., Senior Secured Notes, 8.375% due 10/1/28(c)   173,825 
     Bausch Health Cos., Inc., Senior Secured Notes:     
 45,000   6.125% due 2/1/27(c)   25,047 
 140,000   4.875% due 6/1/28(c)   71,249 
 55,000   11.000% due 9/30/28(c)   34,375 
 445,000   Bayer US Finance LLC, Company Guaranteed Notes, 6.375% due 11/21/30(c)   443,814 
 440,000   Becton Dickinson & Co., Senior Unsecured Notes, 4.693% due 2/13/28   433,744 
 200,000   BRF SA, Senior Unsecured Notes, 4.875% due 1/24/30   171,038 
     Cargill Inc., Senior Unsecured Notes:     
 660,000   2.125% due 11/10/31(c)   529,858 
 80,000   4.000% due 6/22/32(c)   73,356 
 320,000   4.750% due 4/24/33(c)   308,555 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security   Value 
Consumer Non-cyclical - 1.8% - (continued)     
$65,000   Catalent Pharma Solutions Inc., Company Guaranteed Notes, 3.500% due 4/1/30(c)  $54,356 
     CHS/Community Health Systems Inc., Senior Secured Notes:     
 70,000   6.000% due 1/15/29(c)   58,975 
 85,000   4.750% due 2/15/31(c)   62,363 
 325,000   CommonSpirit Health, Senior Secured Notes, 2.760% due 10/1/24   315,628 
     Conagra Brands Inc., Senior Unsecured Notes:     
 600,000   5.300% due 10/1/26   598,392 
 845,000   4.850% due 11/1/28   821,787 
 555,000   Constellation Brands Inc., Senior Unsecured Notes, 2.875% due 5/1/30   480,911 
     Coty Inc.:     
 55,000   Company Guaranteed Notes, 6.500%  due 4/15/26(c)   54,725 
 95,000   Senior Secured Notes, 5.000%  due 4/15/26(c)   92,724 
 170,000   Coty Inc./HFC Prestige Products Inc./HFC Prestige International US LLC, Senior Secured Notes, 6.625% due 7/15/30(c)   170,886 
     CSL Finance PLC, Company Guaranteed Notes:     
 210,000   4.050% due 4/27/29(c)   199,847 
 265,000   4.250% due 4/27/32(c)   247,850    
     CVS Health Corp., Senior Unsecured Notes:     
 640,000   5.125% due 2/21/30   630,763 
 170,000   5.250% due 2/21/33   167,111 
 245,000   5.300% due 6/1/33   240,982 
 947,000   4.780% due 3/25/38   849,762 
 245,000   5.875% due 6/1/53   239,799 
 525,000   Elevance Health Inc., Senior Unsecured Notes, 4.100% due 5/15/32   480,621 
     Encompass Health Corp., Company Guaranteed Notes:     
 20,000   4.750% due 2/1/30   18,174 
 165,000   4.625% due 4/1/31   144,829 
 50,000   Endo Luxembourg Finance Co. I SARL/Endo US Inc., Senior Secured Notes, 6.125% due 4/1/29(c)(e)(e)   32,125 
 182,000   Fideicomiso PA Pacifico Tres, Senior Secured Notes, 8.250% due 1/15/35   165,074 
 150,000   Fortrea Holdings Inc., Senior Secured Notes, 7.500% due 7/1/30(c)   148,500 
 400,000   Frigorifico Concepcion SA, Senior Secured Notes, 7.700% due 7/21/28   325,550 
     Garda World Security Corp.:     
 220,000   Senior Secured Notes, 4.625%  due 2/15/27(c)   209,181 
 85,000   Senior Unsecured Notes, 6.000%  due 6/1/29(c)   70,790 
 510,000   GE HealthCare Technologies Inc., Company Guaranteed Notes, 5.857% due 3/15/30   519,720 
 150,000   General Mills Inc., Senior Unsecured Notes, 4.950% due 3/29/33   145,767 
     Gilead Sciences Inc., Senior Unsecured Notes:     
 555,000   1.650% due 10/1/30   448,611 
 490,000   5.250% due 10/15/33   491,781 
 240,000   Grifols SA, Senior Unsecured Notes, 4.750% due 10/15/28(c)   212,016 
     Haleon US Capital LLC, Company Guaranteed Notes:     
 305,000   3.375% due 3/24/27   288,117 
 250,000   3.625% due 3/24/32   220,279 
     HCA Inc., Company Guaranteed Notes:     
 260,000   4.125% due 6/15/29   241,153 
 265,000   5.125% due 6/15/39   237,993 
 40,000   Hertz Corp., Company Guaranteed Notes, 5.000% due 12/1/29(c)   30,701 
 80,000   H-Food Holdings LLC/Hearthside Finance Co., Inc., Senior Unsecured Notes, 8.500% due 6/1/26(c)   17,200 
     Humana Inc., Senior Unsecured Notes:     
 95,000   5.750% due 12/1/28   96,875 
 405,000   3.700% due 3/23/29   378,704 
 180,000   5.875% due 3/1/33   184,401 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security   Value 
Consumer Non-cyclical - 1.8% - (continued)     
$165,000   IQVIA Inc., Senior Secured Notes, 6.250% due 2/1/29(c)  $167,477 
 250,000   JBS USA LUX SA/JBS USA Food Co./JBS USA Finance Inc., Company Guaranteed Notes, 3.750% due 12/1/31   207,158 
     Kaiser Foundation Hospitals, Unsecured Notes:     
 90,000   2.810% due 6/1/41   62,400 
 330,000   3.002% due 6/1/51   213,549 
 4,167,000   Kraft Heinz Foods Co., Company Guaranteed Notes, 4.625% due 10/1/39   3,640,821 
 90,000   Kronos Acquisition Holdings Inc./KIK Custom Products Inc., Senior Secured Notes, 5.000% due 12/31/26(c)   85,099 
 75,000   Legacy LifePoint Health LLC, Senior Secured Notes, 4.375% due 2/15/27(c)   65,675 
 75,000   Legends Hospitality Holding Co. LLC/Legends Hospitality Co.-Issuer Inc., Senior Secured Notes, 5.000% due 2/1/26(c)   73,875 
 40,000   LifePoint Health Inc., Company Guaranteed Notes, 5.375% due 1/15/29(c)   26,197 
 400,000   MARB BondCo PLC, Company Guaranteed Notes, 3.950% due 1/29/31   308,828 
 450,000   McKesson Corp., Senior Unsecured Notes, 5.100% due 7/15/33   443,061 
 210,000   Medline Borrower LP, Senior Unsecured Notes, 5.250% due 10/1/29(c)   190,043 
 175,000   Merck & Co., Inc., Senior Unsecured Notes, 4.500% due 5/17/33   169,349 
 150,000   Metis Merger Sub LLC, Senior Unsecured Notes, 6.500% due 5/15/29(c)   126,762 
 200,000   Minerva Luxembourg SA, Company Guaranteed Notes, 4.375% due 3/18/31   158,275 
 145,000   ModivCare Escrow Issuer Inc., Senior Unsecured Notes, 5.000% due 10/1/29(c)   110,925 
 960,000   Mondelez International Inc., Senior Unsecured Notes, 1.500% due 2/4/31   753,589 
 200,000   Organon & Co./Organon Foreign Debt Co.-Issuer BV, Senior Unsecured Notes, 5.125% due 4/30/31(c)   157,357 
 140,000   Owens & Minor Inc., Company Guaranteed Notes, 6.625% due 4/1/30(c)   131,118 
 25,000   PECF USS Intermediate Holding III Corp., Senior Unsecured Notes, 8.000% due 11/15/29(c)   11,562 
 150,000   PepsiCo Inc., Senior Unsecured Notes, 3.600% due 2/18/28   143,782 
 80,000   Performance Food Group Inc., Company Guaranteed Notes, 4.250% due 8/1/29(c)   71,550 
     Philip Morris International Inc., Senior Unsecured Notes:     
 455,000   5.125% due 11/17/27   455,326     
 520,000   4.875% due 2/15/28   514,250 
 295,000   5.625% due 11/17/29   299,688 
 755,000   5.125% due 2/15/30   744,939 
 550,000   5.500% due 9/7/30   552,226 
 455,000   5.375% due 2/15/33   448,066 
 435,000   5.625% due 9/7/33   437,058 
     Post Holdings Inc., Company Guaranteed Notes:     
 45,000   5.500% due 12/15/29(c)   42,301 
 26,000   4.625% due 4/15/30(c)   23,228 
 60,000   Prime Security Services Borrower LLC/Prime Finance Inc., Secured Notes, 6.250% due 1/15/28(c)   57,616 
 70,000   Primo Water Holdings Inc., Company Guaranteed Notes, 4.375% due 4/30/29(c)   62,108 
 615,000   Quanta Services Inc., Senior Unsecured Notes, 2.350% due 1/15/32   481,590 
 25,000   Radiology Partners Inc., Company Guaranteed Notes, 9.250% due 2/1/28(c)   11,611 
 55,000   RegionalCare Hospital Partners Holdings Inc./LifePoint Health Inc., Company Guaranteed Notes, 9.750% due 12/1/26(c)   53,178 
     Royalty Pharma PLC, Company Guaranteed Notes:     
 1,195,000   2.200% due 9/2/30   965,415 
 5,000   2.150% due 9/2/31   3,908 
 40,000   RP Escrow Issuer LLC, Senior Secured Notes, 5.250% due 12/15/25(c)   30,926 
 173,333   Rutas 2 & 7 Finance Ltd., Senior Secured Notes, zero coupon, due 9/30/36   111,982 
 110,000   Select Medical Corp., Company Guaranteed Notes, 6.250% due 8/15/26(c)   109,208 
 510,000   Smithfield Foods Inc., Company Guaranteed Notes, 4.250% due 2/1/27(c)   478,858 
 130,000   Spectrum Brands Inc., Company Guaranteed Notes, 5.000% due 10/1/29(c)   119,950 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security  Value 
Consumer Non-cyclical - 1.8% - (continued)     
$55,000   Sutter Health, Unsecured Notes, 3.361% due 8/15/50  $37,630 
    Sysco Corp., Company Guaranteed Notes:        
 255,000   3.250% due 7/15/27    237,924  
 265,000   5.750% due 1/17/29    270,082  
     Tenet Healthcare Corp.:        
 90,000   Company Guaranteed Notes, 6.125%  due 10/1/28    87,255  
 100,000   Secured Notes, 6.250%  due 2/1/27    99,570  
 180,000   Senior Secured Notes, 6.125%  due 6/15/30    175,340  
 595,000   Triton Container International Ltd./TAL International Container Corp., Company Guaranteed Notes, 3.250% due 3/15/32    453,009  
 75,000   Triton Water Holdings Inc., Senior Unsecured Notes, 6.250% due 4/1/29(c)    64,219  
 80,000   United Natural Foods Inc., Company Guaranteed Notes, 6.750% due 10/15/28(c)    61,297  
     UnitedHealth Group Inc., Senior Unsecured Notes:        
 985,000   4.250% due 1/15/29    960,633  
 290,000   4.000% due 5/15/29    277,979  
 185,000   5.300% due 2/15/30    188,921  
 290,000   4.200% due 5/15/32    273,320  
 310,000   3.500% due 8/15/39    248,406  
 85,000   4.950% due 5/15/62    77,508  
 145,000   6.050% due 2/15/63    156,651  
 45,000   Upbound Group Inc., Company Guaranteed Notes, 6.375% due 2/15/29(c)    40,977  
 145,000   US Foods Inc., Company Guaranteed Notes, 7.250% due 1/15/32(c)    148,355  
 155,000   Viatris Inc., Company Guaranteed Notes, 1.650% due 6/22/25    145,241  
 70,000   VT Topco Inc., Senior Secured Notes, 8.500% due 8/15/30(c)    71,675  
 115,000   WASH Multifamily Acquisition Inc., Senior Secured Notes, 5.750% due 4/15/26(c)    108,087  
     Total Consumer Non-cyclical    37,146,729  
Energy - 2.5%        
 65,000   Aethon United BR LP/Aethon United Finance Corp., Senior Unsecured Notes, 8.250% due 2/15/26(c)    65,325  
     AI Candelaria Spain SA, Senior Secured Notes:        
 220,833   7.500% due 12/15/28    207,031  
 250,000   5.750% due 6/15/33(c)    185,425  
 300,000   Aker BP ASA, Senior Unsecured Notes, 4.000% due 1/15/31(c)    265,759  
 145,000   Antero Midstream Partners LP/Antero Midstream Finance Corp., Company Guaranteed Notes, 5.750% due 3/1/27(c)    141,873  
 70,000   Antero Resources Corp., Company Guaranteed Notes, 5.375% due 3/1/30(c)    65,563  
 500,000   BG Energy Capital PLC, Company Guaranteed Notes, 5.125% due 10/15/41(c)    449,395  
 55,000   Blue Racer Midstream LLC/Blue Racer Finance Corp., Senior Unsecured Notes, 7.625% due 12/15/25(c)    55,553  
     BP Capital Markets America Inc., Company Guaranteed Notes:        
 260,000   2.721% due 1/12/32    219,313  
 3,080,000   4.812% due 2/13/33    2,989,409  
 2,045,000   4.893% due 9/11/33    1,994,487  
 70,000   2.939% due 6/4/51    45,298  
 140,000   3.379% due 2/8/61    93,262  
 145,000   Callon Petroleum Co., Company Guaranteed Notes, 7.500% due 6/15/30(c)    143,152  
 200,000   Canacol Energy Ltd., Company Guaranteed Notes, 5.750% due 11/24/28    151,500  
 145,000   Canadian Natural Resources Ltd., Senior Unsecured Notes, 2.950% due 7/15/30    124,010  
 505,000   Cheniere Energy Inc., Senior Secured Notes, 4.625% due 10/15/28    480,619  
 250,000   Cheniere Energy Partners LP, Company Guaranteed Notes, 4.500% due 10/1/29    233,225  
 110,000   Chesapeake Energy Corp., Company Guaranteed Notes, 5.875% due 2/1/29(c)    105,618  
 130,000   Chord Energy Corp., Company Guaranteed Notes, 6.375% due 6/1/26(c)    129,162  
 150,000   Civitas Resources Inc., Company Guaranteed Notes, 8.375% due 7/1/28(c)    153,629  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security    Value  
Energy - 2.5% - (continued)        
$125,000   CNX Midstream Partners LP, Company Guaranteed Notes, 4.750% due 4/15/30(c)  $ 108,841  
 115,000   CNX Resources Corp., Company Guaranteed Notes, 6.000% due 1/15/29(c)    109,663  
 215,000   Columbia Pipelines Holding Co. LLC, Senior Unsecured Notes, 6.042% due 8/15/28(c)    217,404  
     Columbia Pipelines Operating Co. LLC, Senior Unsecured Notes:        
 565,000   5.927% due 8/15/30(c)    567,263  
 355,000   6.036% due 11/15/33(c)    358,220  
 195,000   6.544% due 11/15/53(c)    199,524  
     ConocoPhillips Co., Company Guaranteed Notes:        
 410,000   5.050% due 9/15/33    405,014  
 255,000   3.800% due 3/15/52    194,293  
 215,000   5.700% due 9/15/63    216,694  
 300,000   Cosan Overseas Ltd., Company Guaranteed Notes, 8.250% (f)    296,647  
 250,000   CQP Holdco LP/BIP-V Chinook Holdco LLC, Senior Secured Notes, 5.500% due 6/15/31(c)    231,234  
 100,000   CSI Compressco LP/CSI Compressco Finance Inc., Senior Secured Notes, 7.500% due 4/1/25(c)    98,845  
 210,000   Diamondback Energy Inc., Company Guaranteed Notes, 6.250% due 3/15/33    217,404  
     Ecopetrol SA, Senior Unsecured Notes:        
 100,000   5.875% due 5/28/45    71,245  
 550,000   5.875% due 11/2/51    376,475  
 200,000   EIG Pearl Holdings SARL, Senior Secured Notes, 3.545% due 8/31/36    166,256  
     Enbridge Inc., Company Guaranteed Notes:        
 250,000   6.000% due 11/15/28    256,968  
 935,000   5.700% due 3/8/33    934,992  
     Energy Transfer LP:        
     Senior Unsecured Notes:        
 245,000   4.750%  due 1/15/26    240,803  
 410,000   6.050%  due 12/1/26    415,113  
 125,000   6.100%  due 12/1/28    127,891  
 1,115,000   6.400%  due 12/1/30    1,158,158  
 3,354,000   4.900%  due 3/15/35    3,046,439  
 1,683,000   5.950%  due 10/1/43    1,552,718  
 290,000   Company Guaranteed Notes, 5.000%  due 5/15/44    240,123  
     Enterprise Products Operating LLC, Company Guaranteed Notes:        
 6,000,000   4.150% due 10/16/28    5,787,445  
 200,000   2.800% due 1/31/30    175,237  
     EQM Midstream Partners LP, Senior Unsecured Notes:        
 140,000   6.500% due 7/1/27(c)    140,223  
 85,000   4.750% due 1/15/31(c)    75,704  
 440,000   Equinor ASA, Company Guaranteed Notes, 3.700% due 4/6/50    340,311  
 335,923   Galaxy Pipeline Assets Bidco Ltd., Senior Secured Notes, 2.940% due 9/30/40(c)    263,627  
 200,000   Geopark Ltd., Company Guaranteed Notes, 5.500% due 1/17/27    174,555  
 204,000   Gran Tierra Energy Inc., Senior Secured Notes, 9.500% due 10/15/29(c)    174,930  
 200,000   Gran Tierra Energy International Holdings Ltd., Company Guaranteed Notes, 6.250% due 2/15/25    183,663  
     Greensaif Pipelines Bidco SARL, Senior Secured Notes:        
 780,000   6.129% due 2/23/38(c)    781,777  
 200,000   6.510% due 2/23/42(c)    200,268  
 176,852   Guara Norte SARL, Senior Secured Notes, 5.198% due 6/15/34    155,941  
 56,206   Gulfport Energy Corp., Company Guaranteed Notes, 8.000% due 5/17/26(c)    56,901  
 175,000   Gulfport Energy Operating Corp., Company Guaranteed Notes, 6.375% due 5/15/25(d)    438  
 205,000   Halliburton Co., Senior Unsecured Notes, 4.850% due 11/15/35    194,529  
 430,000   Hess Corp., Senior Unsecured Notes, 7.300% due 8/15/31    485,578  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security    Value  
Energy - 2.5% - (continued)        
     Hess Midstream Operations LP, Company Guaranteed Notes:        
$95,000   4.250% due 2/15/30(c)  $ 84,963  
 80,000   5.500% due 10/15/30(c)    75,498  
     Hilcorp Energy I LP/Hilcorp Finance Co., Senior Unsecured Notes:        
 150,000   6.250% due 11/1/28(c)    145,945  
 30,000   8.375% due 11/1/33(c)    30,902  
 505,000   Kinder Morgan Inc., Company Guaranteed Notes, 5.200% due 6/1/33    483,556  
     MPLX LP, Senior Unsecured Notes:        
 210,000   1.750% due 3/1/26    193,651  
 210,000   4.000% due 3/15/28    198,154  
 520,000   2.650% due 8/15/30    434,698  
 60,000   4.950% due 9/1/32    56,818  
 145,000   4.950% due 3/14/52    121,026  
 85,000   Nabors Industries Inc., Company Guaranteed Notes, 9.125% due 1/31/30(c)    85,221  
 45,000   Nabors Industries Ltd., Company Guaranteed Notes, 7.250% due 1/15/26(c)    43,016  
 85,000   NGL Energy Operating LLC/NGL Energy Finance Corp., Senior Secured Notes, 7.500% due 2/1/26(c)    85,319  
 45,000   NGL Energy Partners LP/NGL Energy Finance Corp., Company Guaranteed Notes, 7.500% due 4/15/26    43,211  
 135,000   NuStar Logistics LP, Company Guaranteed Notes, 6.000% due 6/1/26    134,553  
     Occidental Petroleum Corp., Senior Unsecured Notes:        
 4,175,000   7.150% due 5/15/28    4,376,472  
 570,000   6.625% due 9/1/30    589,688  
 160,000   6.125% due 1/1/31    161,574  
     ONEOK Inc., Company Guaranteed Notes:        
 270,000   4.350% due 3/15/29    254,633  
 290,000   3.100% due 3/15/30    251,688  
 235,000   6.100% due 11/15/32    239,350  
 230,000   6.625% due 9/1/53    241,515  
     Ovintiv Inc., Company Guaranteed Notes:        
 100,000   5.650% due 5/15/28    99,697  
 140,000   7.375% due 11/1/31    149,920  
 225,000   6.250% due 7/15/33    224,298  
     Parkland Corp., Company Guaranteed Notes:        
 95,000   4.500% due 10/1/29(c)    84,631  
 70,000   4.625% due 5/1/30(c)    62,475  
 60,000   PBF Holding Co. LLC/PBF Finance Corp., Company Guaranteed Notes, 6.000% due 2/15/28    57,634  
 140,000   Permian Resources Operating LLC, Company Guaranteed Notes, 7.000% due 1/15/32(c)    140,383  
     Petroleos del Peru SA, Senior Unsecured Notes:        
 200,000   4.750% due 6/19/32    139,908  
 200,000   5.625% due 6/19/47    118,950  
 250,000   Petroleos Mexicanos, Company Guaranteed Notes, 6.750% due 9/21/47    152,981  
 200,000   Pioneer Natural Resources Co., Senior Unsecured Notes, 5.100% due 3/29/26    199,442  
 140,000   Plains All American Pipeline LP/PAA Finance Corp., Senior Unsecured Notes, 3.550% due 12/15/29@    124,910  
     Sabine Pass Liquefaction LLC, Senior Secured Notes:        
 315,000   5.000% due 3/15/27    312,069  
 330,000   4.500% due 5/15/30    311,551  
 946,000   Schlumberger Investment SA, Company Guaranteed Notes, 2.650% due 6/26/30    823,741  
     Shell International Finance BV, Company Guaranteed Notes:        
 450,000   3.250% due 4/6/50    319,127  
 365,000   3.000% due 11/26/51    242,077  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security    Value  
Energy - 2.5% - (continued)        
$65,000   Sitio Royalties Operating Partnership LP/Sitio Finance Corp., Senior Unsecured Notes, 7.875% due 11/1/28(c)  $ 65,255  
 95,000   Southwestern Energy Co., Company Guaranteed Notes, 4.750% due 2/1/32    84,727  
 105,000   SunCoke Energy Inc., Senior Secured Notes, 4.875% due 6/30/29(c)    90,315  
     Sunoco LP/Sunoco Finance Corp., Company Guaranteed Notes:        
 55,000   6.000% due 4/15/27    54,680  
 55,000   4.500% due 5/15/29    50,129  
     Targa Resources Corp., Company Guaranteed Notes:        
 170,000   6.150% due 3/1/29    173,669  
 130,000   6.125% due 3/15/33    132,179  
 825,000   Targa Resources Partners LP/Targa Resources Partners Finance Corp., Company Guaranteed Notes, 4.000% due 1/15/32    717,049  
 6,275,000   Tennessee Gas Pipeline Co. LLC, Company Guaranteed Notes, 2.900% due 3/1/30(c)    5,358,098  
 155,000   Transcontinental Gas Pipe Line Co. LLC, Senior Unsecured Notes, 3.250% due 5/15/30@    136,798  
 60,000   Transocean Inc., Company Guaranteed Notes, 8.000% due 2/1/27(c)    57,437  
 86,250   Transocean Poseidon Ltd., Senior Secured Notes, 6.875% due 2/1/27(c)    85,161  
 308,149   UEP Penonome II SA, Senior Secured Notes, 6.500% due 10/1/38(c)    231,336  
     Venture Global LNG Inc., Senior Secured Notes:        
 95,000   8.125% due 6/1/28(c)    94,189  
 65,000   8.375% due 6/1/31(c)    64,046  
 65,000   9.875% due 2/1/32(c)    66,615  
     Weatherford International Ltd.:        
 110,000   Company Guaranteed Notes, 8.625%  due 4/30/30(c)    113,731  
 46,000   Senior Secured Notes, 6.500%  due 9/15/28(c)    46,460  
 140,000   Western Midstream Operating LP, Senior Unsecured Notes, 4.050% due 2/1/30    126,878  
     Williams Cos., Inc., Senior Unsecured Notes:        
 205,000   3.750% due 6/15/27    194,322  
 475,000   2.600% due 3/15/31    391,505  
 270,000   4.650% due 8/15/32    253,047  
 390,000   5.650% due 3/15/33    391,305  
     Total Energy    50,172,138  
Financial - 9.2%        
     AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Company Guaranteed Notes:        
 1,097,000   1.650% due 10/29/24    1,052,583  
 2,794,888   6.450% due 4/15/27(c)    2,832,088  
 395,000   Air Lease Corp., Senior Unsecured Notes, 3.250% due 3/1/25    381,099  
 490,000   Alexandria Real Estate Equities Inc., Company Guaranteed Notes, 1.875% due 2/1/33    359,450  
     Alliant Holdings Intermediate LLC/Alliant Holdings Co.-Issuer:        
 145,000   Senior Secured Notes, 6.750%  due 4/15/28(c)    144,864  
 100,000   Senior Unsecured Notes, 6.750%  due 10/15/27(c)    95,898  
     American Express Co., Senior Unsecured Notes:        
 465,000   3.950% due 8/1/25    454,028  
 285,000   6.338% (SOFRRATE + 1.330%) due 10/30/26(b)    288,885  
 215,000   5.043% (SOFRRATE + 1.835%) due 5/1/34(b)    207,332  
     American Tower Corp., Senior Unsecured Notes:        
 475,000   3.650% due 3/15/27    447,595  
 310,000   3.600% due 1/15/28    288,247  
 275,000   5.800% due 11/15/28    278,499  
 1,680,000   3.950% due 3/15/29    1,558,786  
 535,000   3.800% due 8/15/29    491,165  
 2,618,000   2.100% due 6/15/30    2,113,342  
 100,000   AmWINS Group Inc., Senior Unsecured Notes, 4.875% due 6/30/29(c)    90,002  
 290,000   Aon Corp., Company Guaranteed Notes, 2.800% due 5/15/30    249,878  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security    Value  
Financial - 9.2% - (continued)        
$145,000   Aon Corp./Aon Global Holdings PLC, Company Guaranteed Notes, 5.350% due 2/28/33  $ 144,207  
 145,000   AssuredPartners Inc., Senior Unsecured Notes, 5.625% due 1/15/29(c)    129,604  
 800,000   Athene Global Funding, Secured Notes, 2.646% due 10/4/31(c)    628,195  
 690,000   Athene Holding Ltd., Senior Unsecured Notes, 3.950% due 5/25/51    482,188  
     Avolon Holdings Funding Ltd.:        
 185,000   Company Guaranteed Notes, 3.250%  due 2/15/27(c)    167,356  
 345,000   Senior Unsecured Notes, 2.125%  due 2/21/26(c)    314,049  
 200,000   Banco Davivienda SA, Junior Subordinated Notes, 6.650% (5-Year CMT Index + 5.097%) (b)(c)(f)    133,000  
     Banco de Credito del Peru SA, Subordinated Notes:        
 200,000   3.125% (5-Year CMT Index + 3.000%) due 7/1/30(b)    187,734  
 200,000   3.250% (5-Year CMT Index + 2.450%) due 9/30/31(b)    177,911  
 400,000   Banco do Brasil SA, Junior Subordinated Notes, 6.250% (5-Year CMT Index + 4.398%) (b)(f)    382,572  
 200,000   Banco do Estado do Rio Grande do Sul SA, Subordinated Notes, 5.375% (5-Year CMT Index + 4.928%) due 1/28/31(b)(c)    185,005  
 100,000   Banco GNB Sudameris SA, Subordinated Notes, 7.051% (5-Year CMT Index + 4.561%) due 4/3/27(b)    94,908  
 150,000   Banco Industrial SA, Subordinated Notes, 4.875% (5-Year CMT Index + 4.442%) due 1/29/31(b)    138,390  
     Banco Internacional del Peru SAA Interbank, Subordinated Notes:        
 200,000   6.625% (3-Month USD-LIBOR + 5.760%) due 3/19/29(b)    199,211  
 300,000   4.000% (5-Year CMT Index + 3.711%) due 7/8/30(b)    280,125  
 400,000   Banco Mercantil del Norte SA, Junior Subordinated Notes, 7.625% (5-Year CMT Index + 5.353%) (b)(f)    373,541  
 400,000   Banco Nacional de Comercio Exterior SNC, Subordinated Notes, 2.720% (5-Year CMT Index + 2.000%) due 8/11/31(b)    336,482  
 400,000   Bancolombia SA, Subordinated Notes, 4.625% (5-Year CMT Index + 2.944%) due 12/18/29(b)    362,251  
     Bank of America Corp.:        
     Senior Unsecured Notes:        
 95,000   3.841% (SOFRRATE + 1.110%) due 4/25/25(b)    94,149  
 145,000   4.827% (SOFRRATE + 1.750%) due 7/22/26(b)    143,052  
 870,000   5.933% (SOFRRATE + 1.340%) due 9/15/27(b)    876,568  
 710,000   5.202% (SOFRRATE + 1.630%) due 4/25/29(b)    699,114  
 725,000   3.974% (3-Month TSFR + 1.472%) due 2/7/30(b)    670,042  
 1,025,000   2.592% (SOFRRATE + 2.150%) due 4/29/31(b)    851,722  
 375,000   1.898% (SOFRRATE + 1.530%) due 7/23/31(b)    294,483  
 7,175,000   1.922% (SOFRRATE + 1.370%) due 10/24/31(b)    5,609,063  
 4,030,000   2.687% (SOFRRATE + 1.320%) due 4/22/32(b)    3,274,053  
 240,000   2.572% (SOFRRATE + 1.210%) due 10/20/32(b)    191,004  
 1,185,000   2.972% (SOFRRATE + 1.330%) due 2/4/33(b)    967,034  
 955,000   Subordinated Notes, 2.482%  (5-Year CMT Index + 1.200%) due 9/21/36(b)    721,214  
 625,000   Bank of Montreal, Subordinated Notes, 3.088% (5-Year CMT Index + 1.400%) due 1/10/37(b)    480,628  
 820,000   Bank of New York Mellon Corp., Senior Unsecured Notes, 6.317% (SOFRRATE + 1.598%) due 10/25/29(b)    850,782  
 890,000   Bank of Nova Scotia, Senior Unsecured Notes, 3.450% due 4/11/25    864,650  
     Barclays PLC, Senior Unsecured Notes:        
 5,000,000   4.375% due 1/12/26    4,853,978  
 300,000   7.385% (1-Year CMT Index + 3.300%) due 11/2/28(b)    312,847  
 215,000   6.490% (SOFRRATE + 2.220%) due 9/13/29(b)    217,417  
 620,000   6.224% (SOFRRATE + 2.980%) due 5/9/34(b)    609,228  
 400,000   BBVA Bancomer SA, Subordinated Notes, 5.875% (5-Year CMT Index + 4.308%) due 9/13/34(b)    359,530  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security    Value  
Financial - 9.2% - (continued)        
$3,010,000   Berkshire Hathaway Finance Corp., Company Guaranteed Notes, 3.850% due 3/15/52  $ 2,353,015  
 770,000   Blackstone Holdings Finance Co. LLC, Company Guaranteed Notes, 2.000% due 1/30/32(c)    578,582  
     BNP Paribas SA:        
 245,000   Senior Preferred Notes, 5.335%  (1-Year CMT Index + 1.500%) due 6/12/29(b)(c)    242,525  
 680,000   Senior Unsecured Notes, 5.894%  (SOFRRATE + 1.866%) due 12/5/34(b)(c)(h)    680,962  
     Boston Properties LP, Senior Unsecured Notes:        
 3,000,000   3.400% due 6/21/29    2,558,067  
 2,975,000   3.250% due 1/30/31    2,410,748  
     BPCE SA, Senior Non-Preferred Notes:        
 520,000   2.045% (SOFRRATE + 1.087%) due 10/19/27(b)(c)    463,708  
 865,000   6.714% (SOFRRATE + 2.270%) due 10/19/29(b)(c)    882,600  
 910,000   7.003% (SOFRRATE + 2.590%) due 10/19/34(b)(c)    937,788  
     Brighthouse Financial Global Funding, Senior Secured Notes:        
 170,000   1.000% due 4/12/24(c)    166,991  
 650,000   1.750% due 1/13/25(c)    619,684  
 425,000   Brown & Brown Inc., Senior Unsecured Notes, 2.375% due 3/15/31    338,487  
     Capital One Financial Corp., Senior Unsecured Notes:        
 490,000   4.985% (SOFRRATE + 2.160%) due 7/24/26(b)    478,316  
 85,000   1.878% (SOFRRATE + 0.855%) due 11/2/27(b)    74,545  
 100,000   5.468% (SOFRRATE + 2.080%) due 2/1/29(b)    96,066  
 660,000   6.312% (SOFRRATE + 2.640%) due 6/8/29(b)    656,128  
 750,000   3.273% (SOFRRATE + 1.790%) due 3/1/30(b)    644,480  
 550,000   5.247% (SOFRRATE + 2.600%) due 7/26/30(b)    517,294  
 550,000   7.624% (SOFRRATE + 3.070%) due 10/30/31(b)    574,816  
 150,000   5.817% (SOFRRATE + 2.600%) due 2/1/34(b)    140,684  
 380,000   6.377% (SOFRRATE + 2.860%) due 6/8/34(b)    369,811  
     Citigroup Inc., Senior Unsecured Notes:        
 1,025,000   3.668% (3-Month TSFR + 1.652%) due 7/24/28(b)    959,909  
 3,555,000   2.976% (SOFRRATE + 1.422%) due 11/5/30(b)    3,075,270  
 3,375,000   2.520% (SOFRRATE + 1.177%) due 11/3/32(b)    2,671,889  
     Corebridge Financial Inc., Senior Unsecured Notes:        
 440,000   3.850% due 4/5/29    402,858  
 110,000   6.050% due 9/15/33(c)    111,449  
 295,000   Credit Agricole SA, Senior Non-Preferred Notes, 6.316% (SOFRRATE + 1.860%) due 10/3/29(b)(c)    300,660  
     Crown Castle Inc., Senior Unsecured Notes:        
 265,000   3.800% due 2/15/28    246,667  
 920,000   4.800% due 9/1/28    888,683  
 515,000   4.300% due 2/15/29    482,332  
 245,000   3.100% due 11/15/29    212,892  
 3,410,000   2.100% due 4/1/31    2,678,467  
     Deutsche Bank AG, Senior Non-Preferred Notes:        
 755,000   2.129% (SOFRRATE + 1.870%) due 11/24/26(b)    691,926  
 285,000   6.720% (SOFRRATE + 3.180%) due 1/18/29(b)    289,997  
     Equinix Inc., Senior Unsecured Notes:        
 525,000   3.200% due 11/18/29    463,766  
 270,000   3.900% due 4/15/32    239,385  
 475,000   2.950% due 9/15/51    287,315  
 1,110,000   Equitable Financial Life Global Funding, Secured Notes, 1.800% due 3/8/28(c)    945,652  
 80,000   Equitable Holdings Inc., Senior Unsecured Notes, 4.350% due 4/20/28    75,986  
 6,134,000   Five Corners Funding Trust II, Senior Unsecured Notes, 2.850% due 5/15/30(c)    5,243,647  
 216,982   Global Aircraft Leasing Co., Ltd., Senior Unsecured Notes, 6.500% due 9/15/24(c)(g)    202,974  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security    Value  
Financial - 9.2% - (continued)        
$200,000   Global Bank Corp., Senior Unsecured Notes, 5.250% (3-Month USD-LIBOR + 3.300%) due 4/16/29(b)  $ 177,452  
 345,000   GLP Capital LP/GLP Financing II Inc., Company Guaranteed Notes, 5.300% due 1/15/29    330,071  
     Goldman Sachs Group Inc., Senior Unsecured Notes:        
 955,000   6.811% (3-Month TSFR + 1.432%) due 5/15/26(b)    958,320  
 125,000   4.482% (SOFRRATE + 1.725%) due 8/23/28(b)    120,560  
 300,000   1.992% (SOFRRATE + 1.090%) due 1/27/32(b)    232,678  
 1,740,000   2.615% (SOFRRATE + 1.281%) due 4/22/32(b)    1,402,115  
 900,000   2.383% (SOFRRATE + 1.248%) due 7/21/32(b)    708,695  
 530,000   Guardian Life Global Funding, Secured Notes, 1.250% due 5/13/26(c)    481,361  
 65,000   Hightower Holding LLC, Company Guaranteed Notes, 6.750% due 4/15/29(c)    56,202  
 560,000   Host Hotels & Resorts LP, Senior Unsecured Notes, 3.500% due 9/15/30    477,445  
     HSBC Holdings PLC:        
     Senior Unsecured Notes:        
 440,000   5.887%  (SOFRRATE + 1.570%) due 8/14/27(b)    440,798  
 310,000   5.210%  (SOFRRATE + 2.610%) due 8/11/28(b)    304,515  
 410,000   6.161%  (SOFRRATE + 1.970%) due 3/9/29(b)    415,174  
 350,000   4.583%  (3-Month TSFR + 1.796%) due 6/19/29(b)    333,178  
 620,000   2.206%  (SOFRRATE + 1.285%) due 8/17/29(b)    526,209  
 1,335,000   5.402%  (SOFRRATE + 2.870%) due 8/11/33(b)    1,284,015  
     Subordinated Notes:        
 805,000   6.547%  (SOFRRATE + 2.980%) due 6/20/34(b)    795,912  
 580,000   7.399%  (SOFRRATE + 3.020%) due 11/13/34(b)    603,709  
 65,000   HUB International Ltd., Senior Secured Notes, 7.250% due 6/15/30(c)    66,434  
     Huntington Bancshares Inc., Senior Unsecured Notes:        
 120,000   6.208% (SOFRRATE + 2.020%) due 8/21/29(b)    120,186  
 1,735,000   5.023% (SOFRRATE + 2.050%) due 5/17/33(b)    1,582,353  
 250,000   Huntington National Bank, Senior Unsecured Notes, 5.650% due 1/10/30    242,370  
     Intesa Sanpaolo SpA, Senior Preferred Notes:        
 530,000   6.625% due 6/20/33(c)    518,936  
 440,000   7.800% due 11/28/53(c)    445,930  
 640,000   Invitation Homes Operating Partnership LP, Company Guaranteed Notes, 2.700% due 1/15/34    480,439  
     Iron Mountain Inc., Company Guaranteed Notes:        
 155,000   7.000% due 2/15/29(c)    156,231  
 80,000   4.500% due 2/15/31(c)    69,238  
 200,000   Itau Unibanco Holding SA, Junior Subordinated Notes, 4.625% (5-Year CMT Index + 3.222%) (b)(f)    170,153  
     JPMorgan Chase & Co., Senior Unsecured Notes:        
 620,000   3.960% (3-Month TSFR + 1.507%) due 1/29/27(b)    599,839  
 375,000   6.070% (SOFRRATE + 1.330%) due 10/22/27(b)    381,090  
 245,000   4.851% (SOFRRATE + 1.990%) due 7/25/28(b)    241,194  
 730,000   3.509% (3-Month TSFR + 1.207%) due 1/23/29(b)    678,001  
 605,000   5.299% (SOFRRATE + 1.450%) due 7/24/29(b)    602,932  
 585,000   2.580% (3-Month TSFR + 1.250%) due 4/22/32(b)    478,131  
 5,350,000   2.545% (SOFRRATE + 1.180%) due 11/8/32(b)    4,300,860  
 580,000   2.963% (SOFRRATE + 1.260%) due 1/25/33(b)    479,200  
 4,655,000   KeyBank NA, Senior Unsecured Notes, 5.000% due 1/26/33    4,083,003  
 300,000   Kimco Realty OP LLC, Company Guaranteed Notes, 4.450% due 1/15/24    298,802  
 90,000   LFS Topco LLC, Company Guaranteed Notes, 5.875% due 10/15/26(c)    79,191  
 2,180,000   Lloyds Banking Group PLC, Senior Unsecured Notes, 4.976% (1-Year CMT Index + 2.300%) due 8/11/33(b)    2,024,356  
     M&T Bank Corp., Senior Unsecured Notes:        
 425,000   7.413% (SOFRRATE + 2.800%) due 10/30/29(b)    443,144  
 505,000   5.053% (SOFRRATE + 1.850%) due 1/27/34(b)    452,692  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security    Value  
Financial - 9.2% - (continued)        
$675,000   Macquarie Group Ltd., Senior Unsecured Notes, 2.871% (SOFRRATE + 1.532%) due 1/14/33(b)(c)  $ 527,682  
 1,015,000   Manufacturers & Traders Trust Co., Senior Unsecured Notes, 4.700% due 1/27/28    953,479  
 235,000   Marsh & McLennan Cos., Inc., Senior Unsecured Notes, 4.750% due 3/15/39    215,645  
 570,000   Massachusetts Mutual Life Insurance Co., Subordinated Notes, 3.375% due 4/15/50(c)    384,538  
     MetLife Inc., Senior Unsecured Notes:        
 330,000   5.375% due 7/15/33    328,656  
 515,000   5.250% due 1/15/54    486,061  
 1,070,000   Metropolitan Life Global Funding I, Secured Notes, 2.400% due 1/11/32(c)    851,160  
     Morgan Stanley:        
     Senior Unsecured Notes:        
 7,000,000   3.772% (3-Month TSFR + 1.402%) due 1/24/29(b)    6,527,757  
 580,000   5.123% (SOFRRATE + 1.730%) due 2/1/29(b)    570,888  
 155,000   5.164% (SOFRRATE + 1.590%) due 4/20/29(b)    152,424  
 180,000   5.449% (SOFRRATE + 1.630%) due 7/20/29(b)    179,317  
 465,000   6.407% (SOFRRATE + 1.830%) due 11/1/29(b)    481,500  
 3,135,000   2.699% (SOFRRATE + 1.143%) due 1/22/31(b)    2,647,125  
 485,000   1.928% (SOFRRATE + 1.020%) due 4/28/32(b)    372,767  
 185,000   2.511% (SOFRRATE + 1.200%) due 10/20/32(b)    146,732  
     Subordinated Notes:        
 1,270,000   2.484% (SOFRRATE + 1.360%) due 9/16/36(b)    958,876  
 90,000   5.948% (5-Year CMT Index + 2.430%) due 1/19/38(b)    87,243  
 530,000   Nasdaq Inc., Senior Unsecured Notes, 5.550% due 2/15/34    529,646  
 145,000   Nationstar Mortgage Holdings Inc., Company Guaranteed Notes, 5.750% due 11/15/31(c)    126,602  
 100,000   Navient Corp., Senior Unsecured Notes, 5.000% due 3/15/27    93,237  
     OneMain Finance Corp., Company Guaranteed Notes:        
 115,000   7.125% due 3/15/26    115,961  
 90,000   5.375% due 11/15/29    81,004  
 2,420,000   Ontario Teachers' Cadillac Fairview Properties Trust, Senior Unsecured Notes, 2.500% due 10/15/31(c)    1,885,539  
 200,000   Oversea-Chinese Banking Corp., Ltd., Subordinated Notes, 1.832% (5-Year CMT Index + 1.580%) due 9/10/30(b)    186,090  
 195,000   Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co.-Issuer, Senior Secured Notes, 4.875% due 5/15/29(c)    173,515  
 160,000   PennyMac Financial Services Inc., Company Guaranteed Notes, 4.250% due 2/15/29(c)    138,394  
     PNC Financial Services Group Inc.:        
     Senior Unsecured Notes:        
 230,000   5.068%  (SOFRRATE + 1.933%) due 1/24/34(b)    215,680  
 190,000   6.875%  (SOFRRATE + 2.284%) due 10/20/34(b)    201,705  
 4,450,000   Subordinated Notes, 4.626%  (SOFRRATE + 1.850%) due 6/6/33(b)    3,961,021  
 425,000   Principal Financial Group Inc., Company Guaranteed Notes, 5.375% due 3/15/33    417,476  
 65,000   Realogy Group LLC/Realogy Co.-Issuer Corp., Company Guaranteed Notes, 5.250% due 4/15/30(c)    43,752  
 240,000   Realty Income Corp., Senior Unsecured Notes, 5.050% due 1/13/26    238,651  
 375,000   Royal Bank of Canada, Senior Unsecured Notes, 5.200% due 8/1/28    373,679  
 80,000   Ryan Specialty LLC, Senior Secured Notes, 4.375% due 2/1/30(c)    72,200  
 535,000   Santander Holdings USA Inc., Senior Unsecured Notes, 2.490% (SOFRRATE + 1.249%) due 1/6/28(b)    479,290  
 2,575,000   SBA Tower Trust, Asset Backed, 1.631% due 11/15/26(c)    2,264,801  
 1,905,000   Simon Property Group LP, Senior Unsecured Notes, 2.200% due 2/1/31    1,523,917  
 1,335,000   Societe Generale SA, Subordinated Notes, 6.221% (1-Year CMT Index + 3.200%) due 6/15/33(b)(c)    1,251,655  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security    Value  
Financial - 9.2% - (continued)        
     Standard Chartered PLC, Senior Unsecured Notes:        
$565,000   7.767% (1-Year CMT Index + 3.450%) due 11/16/28(b)(c)  $ 598,129  
 215,000   7.018% (1-Year CMT Index + 2.200%) due 2/8/30(b)(c)    221,583  
     Toronto-Dominion Bank, Senior Unsecured Notes:        
 490,000   4.693% due 9/15/27    480,994  
 2,638,000   3.200% due 3/10/32    2,226,089  
 3,050,000   4.456% due 6/8/32    2,833,152  
     Truist Financial Corp., Senior Unsecured Notes:        
 225,000   4.873% (SOFRRATE + 1.435%) due 1/26/29(b)    215,661  
 3,295,000   5.122% (SOFRRATE + 1.852%) due 1/26/34(b)    3,031,029  
     UBS Group AG, Senior Unsecured Notes:        
 435,000   4.751% (1-Year CMT Index + 1.750%) due 5/12/28(b)(c)    419,197  
 260,000   6.442% (SOFRRATE + 3.700%) due 8/11/28(b)(c)    264,211  
 330,000   6.246% (1-Year CMT Index + 1.800%) due 9/22/29(b)(c)    334,514  
 5,000,000   4.194% (SOFRRATE + 3.730%) due 4/1/31(b)(c)    4,488,458  
 200,000   2.095% (1-Year CMT Index + 1.000%) due 2/11/32(b)(c)    153,018  
 3,600,000   2.746% (1-Year CMT Index + 1.100%) due 2/11/33(b)(c)    2,808,012  
 1,420,000   6.537% (SOFRRATE + 3.920%) due 8/12/33(b)(c)    1,449,143  
 5,160,000   UDR Inc., Company Guaranteed Notes, 3.200% due 1/15/30    4,530,330  
 423,000   Unifin Financiera SAB de CV, Junior Subordinated Notes, 8.875% (5-Year CMT Index + 6.308%) (d)(e)(f)    423  
 65,000   Uniti Group LP/Uniti Group Finance Inc./CSL Capital LLC, Senior Secured Notes, 10.500% due 2/15/28(c)    63,935  
 6,006,000   US Bancorp, Subordinated Notes, 2.491% (5-Year CMT Index + 0.950%) due 11/3/36(b)    4,433,910  
 5,650,000   Ventas Realty LP, Company Guaranteed Notes, 3.850% due 4/1/27    5,319,350  
     VICI Properties LP, Senior Unsecured Notes:        
 270,000   4.950% due 2/15/30    251,067  
 470,000   5.125% due 5/15/32    432,738  
     Wells Fargo & Co., Senior Unsecured Notes:        
 620,000   3.000% due 4/22/26    586,599  
 395,000   3.908% (SOFRRATE + 1.320%) due 4/25/26(b)    384,474  
 1,130,000   3.526% (SOFRRATE + 1.510%) due 3/24/28(b)    1,059,452  
 510,000   3.584% (3-Month TSFR + 1.572%) due 5/22/28(b)    477,671  
 645,000   4.808% (SOFRRATE + 1.980%) due 7/25/28(b)    629,205  
 915,000   5.574% (SOFRRATE + 1.740%) due 7/25/29(b)    913,532  
 310,000   2.879% (3-Month TSFR + 1.432%) due 10/30/30(b)    266,714  
 585,000   2.572% (3-Month TSFR + 1.262%) due 2/11/31(b)    488,878  
 955,000   3.350% (SOFRRATE + 1.500%) due 3/2/33(b)    799,355  
 560,000   4.897% (SOFRRATE + 2.100%) due 7/25/33(b)    523,769  
 5,955,000   5.389% (SOFRRATE + 2.020%) due 4/24/34(b)    5,729,287  
 375,000   6.491% (SOFRRATE + 2.060%) due 10/23/34(b)    391,652  
 230,000   5.013% (3-Month TSFR + 4.502%) due 4/4/51(b)    204,494  
     Welltower OP LLC, Company Guaranteed Notes:        
 570,000   2.050% due 1/15/29    482,745  
 5,725,000   2.750% due 1/15/32    4,635,403  
 625,000   Westpac Banking Corp., Subordinated Notes, 3.020% (5-Year CMT Index + 1.530%) due 11/18/36(b)    484,052  
 650,000   Willis North America Inc., Company Guaranteed Notes, 2.950% due 9/15/29    568,471  
     XHR LP, Senior Secured Notes:        
 100,000   6.375% due 8/15/25(c)    99,001  
 295,000   4.875% due 6/1/29(c)    264,302  
     Total Financial    187,680,827  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security    Value  
Industrial - 0.9%        
     Advanced Drainage Systems Inc., Company Guaranteed Notes:        
$130,000   5.000% due 9/30/27(c)  $ 123,457  
 170,000   6.375% due 6/15/30(c)    167,025  
 410,000   Arrow Electronics Inc., Senior Unsecured Notes, 3.875% due 1/12/28    381,972  
 267,172   Bioceanico Sovereign Certificate Ltd., Senior Secured Notes, zero coupon, due 6/5/34    189,552  
     Boeing Co., Senior Unsecured Notes:        
 305,000   5.040% due 5/1/27    303,015  
 550,000   2.950% due 2/1/30    478,529  
 160,000   5.150% due 5/1/30    158,524  
     Bombardier Inc., Senior Unsecured Notes:        
 122,000   7.875% due 4/15/27(c)    122,089  
 110,000   8.750% due 11/15/30(c)    112,618  
     Builders FirstSource Inc., Company Guaranteed Notes:        
 140,000   5.000% due 3/1/30(c)    130,379  
 90,000   4.250% due 2/1/32(c)    77,203  
 100,000   6.375% due 6/15/32(c)    98,395  
     Carrier Global Corp., Senior Unsecured Notes:        
 45,000   5.900% due 3/15/34(c)    46,308  
 45,000   6.200% due 3/15/54(c)    47,567  
     Cemex SAB de CV, Subordinated Notes:        
 200,000   5.125% (5-Year CMT Index + 4.534%) (b)(f)    187,580  
 200,000   9.125% (5-Year CMT Index + 5.157%) (b)(c)(f)    208,814  
 45,000   Clean Harbors Inc., Company Guaranteed Notes, 5.125% due 7/15/29(c)    42,313  
 55,000   Clydesdale Acquisition Holdings Inc., Senior Secured Notes, 6.625% due 4/15/29(c)    52,922  
 60,000   Coherent Corp., Company Guaranteed Notes, 5.000% due 12/15/29(c)    54,301  
 100,000   Cornerstone Building Brands Inc., Company Guaranteed Notes, 6.125% due 1/15/29(c)    78,500  
 690,000   CSX Corp., Senior Unsecured Notes, 3.350% due 9/15/49    479,252  
 1,115,000   DAE Funding LLC, Company Guaranteed Notes, 1.550% due 8/1/24(c)    1,078,812  
 60,000   Energizer Holdings Inc., Company Guaranteed Notes, 6.500% due 12/31/27(c)    58,261  
 155,000   Fortress Transportation & Infrastructure Investors LLC, Company Guaranteed Notes, 7.875% due 12/1/30(c)    157,684  
 65,000   GFL Environmental Inc., Senior Secured Notes, 6.750% due 1/15/31(c)(h)    65,569  
 50,000   GrafTech Finance Inc., Senior Secured Notes, 4.625% due 12/15/28(c)    33,536  
 115,000   Griffon Corp., Company Guaranteed Notes, 5.750% due 3/1/28    108,690  
 140,000   Ingersoll Rand Inc., Senior Unsecured Notes, 5.700% due 8/14/33    141,701  
 520,000   Jacobs Engineering Group Inc., Company Guaranteed Notes, 5.900% due 3/1/33    506,556  
 75,000   JELD-WEN Inc., Company Guaranteed Notes, 4.875% due 12/15/27(c)    69,178  
 88,848   Lima Metro Line 2 Finance Ltd., Senior Secured Notes, 5.875% due 7/5/34    86,476  
     Madison IAQ LLC:        
 70,000   Senior Secured Notes, 4.125%  due 6/30/28(c)    62,186  
 150,000   Senior Unsecured Notes, 5.875%  due 6/30/29(c)    125,849  
 168,118   MV24 Capital BV, Senior Secured Notes, 6.748% due 6/1/34    151,368  
 520,000   Northrop Grumman Corp., Senior Unsecured Notes, 5.150% due 5/1/40    496,221  
 775,000   Otis Worldwide Corp., Senior Unsecured Notes, 2.565% due 2/15/30    663,309  
 100,000   Pactiv Evergreen Group Issuer LLC/Pactiv Evergreen Group Issuer Inc., Senior Secured Notes, 4.375% due 10/15/28(c)    90,875  
 125,000   Parker-Hannifin Corp., Senior Unsecured Notes, 4.250% due 9/15/27    121,688  
     Penske Truck Leasing Co. LP/PTL Finance Corp., Senior Unsecured Notes:        
 375,000   5.750% due 5/24/26(c)    373,652  
 255,000   4.200% due 4/1/27(c)    241,454  
 450,000   4.400% due 7/1/27(c)    427,425  
 170,000   6.050% due 8/1/28(c)    171,297  
 115,000   6.200% due 6/15/30(c)    116,446  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security    Value  
Industrial - 0.9% - (continued)        
     Regal Rexnord Corp., Company Guaranteed Notes:        
$1,085,000   6.050% due 4/15/28(c)  $ 1,067,513  
 135,000   6.300% due 2/15/30(c)    133,413  
 100,000   Roller Bearing Co. of America Inc., Senior Unsecured Notes, 4.375% due 10/15/29(c)    89,805  
 580,000   RTX Corp., Senior Unsecured Notes, 5.750% due 11/8/26    587,745  
 85,000   Sealed Air Corp./Sealed Air Corp. US, Company Guaranteed Notes, 7.250% due 2/15/31(c)    87,014  
 70,000   Seaspan Corp., Senior Unsecured Notes, 5.500% due 8/1/29(c)    54,656  
 80,000   Spirit AeroSystems Inc., Senior Secured Notes, 9.750% due 11/15/30(c)    84,245  
 180,000   Standard Industries Inc., Senior Unsecured Notes, 4.375% due 7/15/30(c)    157,776  
 89,000   Tervita Corp., Secured Notes, 11.000% due 12/1/25(c)    92,655  
 105,000   Titan Acquisition Ltd./Titan Co.-Borrower LLC, Senior Unsecured Notes, 7.750% due 4/15/26(c)    103,764  
     TransDigm Inc.:        
 140,000   Company Guaranteed Notes, 5.500%  due 11/15/27    134,740  
 135,000   Senior Secured Notes, 6.875%  due 12/15/30(c)    135,169  
 95,000   Trident TPI Holdings Inc., Company Guaranteed Notes, 12.750% due 12/31/28(c)    100,225  
 240,000   Veralto Corp., Company Guaranteed Notes, 5.350% due 9/18/28(c)    239,504  
 490,000   Waste Management Inc., Company Guaranteed Notes, 4.875% due 2/15/29    490,267  
     WRKCo Inc., Company Guaranteed Notes:        
 490,000   3.750% due 3/15/25    476,941  
 5,245,000   3.900% due 6/1/28    4,903,954  
 170,000   XPO Inc., Company Guaranteed Notes, 7.125% due 6/1/31(c)    171,832  
     Total Industrial    17,999,766  
Technology - 0.4%        
 165,000   AthenaHealth Group Inc., Senior Unsecured Notes, 6.500% due 2/15/30(c)    143,023  
 15,000   Boxer Parent Co., Inc., Senior Secured Notes, 7.125% due 10/2/25(c)    14,981  
     Broadcom Inc., Senior Unsecured Notes:        
 577,000   3.419% due 4/15/33(c)    484,898  
 502,000   4.926% due 5/15/37(c)    459,797  
 40,000   Castle US Holding Corp., Senior Unsecured Notes, 9.500% due 2/15/28(c)    21,200  
     CDW LLC/CDW Finance Corp., Company Guaranteed Notes:        
 210,000   2.670% due 12/1/26    192,298  
 180,000   3.569% due 12/1/31    155,002  
 105,000   Central Parent LLC/CDK Global II LLC/CDK Financing Co., Inc., Senior Secured Notes, 8.000% due 6/15/29(c)    107,708  
 80,000   Clarivate Science Holdings Corp., Company Guaranteed Notes, 4.875% due 7/1/29(c)    71,590  
 155,000   Dun & Bradstreet Corp., Company Guaranteed Notes, 5.000% due 12/15/29(c)    140,058  
 200,000   Helios Software Holdings Inc./ION Corporate Solutions Finance SARL, Senior Secured Notes, 4.625% due 5/1/28(c)    173,636  
 190,000   Hewlett Packard Enterprise Co., Senior Unsecured Notes, 5.900% due 10/1/24    189,968  
     Intel Corp., Senior Unsecured Notes:        
 160,000   3.250% due 11/15/49    110,370  
 305,000   5.050% due 8/5/62    280,793  
     Marvell Technology Inc.:        
 390,000   Company Guaranteed Notes, 1.650%  due 4/15/26    358,293  
 145,000   Senior Unsecured Notes, 5.950%  due 9/15/33    146,893  
 350,000   Microsoft Corp., Senior Unsecured Notes, 2.921% due 3/17/52    241,674  
 380,000   NetApp Inc., Senior Unsecured Notes, 1.875% due 6/22/25    357,959  
 535,000   NVIDIA Corp., Senior Unsecured Notes, 2.850% due 4/1/30    480,351  
 500,000   NXP BV/NXP Funding LLC, Company Guaranteed Notes, 4.875% due 3/1/24    498,461  
     NXP BV/NXP Funding LLC/NXP USA Inc., Company Guaranteed Notes:        
 375,000   3.875% due 6/18/26    360,833  
 250,000   4.300% due 6/18/29    235,512  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security    Value  
Technology - 0.4% - (continued)        
     Oracle Corp., Senior Unsecured Notes:        
$335,000   6.150% due 11/9/29  $ 351,504  
 165,000   2.950% due 4/1/30    144,585  
 45,000   6.250% due 11/9/32    47,387  
 365,000   4.900% due 2/6/33    351,156  
 325,000   3.800% due 11/15/37    264,825  
 2,159,000   3.600% due 4/1/50    1,507,687  
 175,000   Qorvo Inc., Company Guaranteed Notes, 1.750% due 12/15/24    167,380  
 35,000   Virtusa Corp., Senior Unsecured Notes, 7.125% due 12/15/28(c)    27,645  
 520,000   Workday Inc., Senior Unsecured Notes, 3.700% due 4/1/29    482,598  
     Total Technology    8,570,065  
Utilities - 3.0%        
 400,000   Adani Electricity Mumbai Ltd., Senior Secured Notes, 3.867% due 7/22/31    288,074  
 540,000   AEP Texas Inc., Senior Unsecured Notes, 3.450% due 1/15/50    361,752  
 450,000   Alabama Power Co., Senior Unsecured Notes, 3.450% due 10/1/49    313,351  
     Arizona Public Service Co., Senior Unsecured Notes:        
 385,000   6.350% due 12/15/32    403,104  
 155,000   5.550% due 8/1/33    153,532  
 115,000   Atmos Energy Corp., Senior Unsecured Notes, 5.900% due 11/15/33    119,281  
     Berkshire Hathaway Energy Co., Senior Unsecured Notes:        
 610,000   6.125% due 4/1/36    627,058  
 1,100,000   5.950% due 5/15/37    1,112,859  
 50,000   4.600% due 5/1/53    40,860  
 155,000   Boston Gas Co., Senior Unsecured Notes, 3.757% due 3/16/32(c)    132,981  
 800,000   Brooklyn Union Gas Co., Senior Unsecured Notes, 4.866% due 8/5/32(c)    727,220  
     Calpine Corp.:        
 95,000   Senior Secured Notes, 4.500%  due 2/15/28(c)    89,658  
 75,000   Senior Unsecured Notes, 4.625%  due 2/1/29(c)    67,929  
 200,000   Chile Electricity PEC SpA, Senior Secured Notes, zero coupon, due 1/25/28(c)    154,487  
 150,000   Clearway Energy Operating LLC, Company Guaranteed Notes, 4.750% due 3/15/28(c)    140,371  
     Cleco Corporate Holdings LLC:        
 70,000   Senior Secured Notes, 4.973%  due 5/1/46    54,689  
 180,000   Senior Unsecured Notes, 3.375%  due 9/15/29    153,389  
     Consolidated Edison Co. of New York Inc., Senior Unsecured Notes:        
 170,000   5.500% due 3/15/34    171,363  
 400,000   3.200% due 12/1/51    262,195  
     Dominion Energy Inc., Senior Unsecured Notes:        
 3,375,000   3.375% due 4/1/30    3,001,171  
 1,500,000   5.375% due 11/15/32    1,481,048  
 30,000   6.300% due 3/15/33    30,789  
     DTE Energy Co., Senior Unsecured Notes:        
 245,000   step bond to yield, 4.220% due 11/1/24    241,197  
 490,000   4.875% due 6/1/28    480,410  
     Duke Energy Carolinas LLC, 1st Mortgage Notes:        
 1,225,000   5.300% due 2/15/40    1,165,441  
 205,000   3.550% due 3/15/52    145,136  
     Duke Energy Corp., Senior Unsecured Notes:        
 4,000,000   0.900% due 9/15/25    3,688,417  
 775,000   2.650% due 9/1/26    721,290  
 165,000   2.450% due 6/1/30    138,471  
 1,455,000   2.550% due 6/15/31    1,188,035  
 450,000   4.500% due 8/15/32    419,730  
 275,000   Duke Energy Florida LLC, 1st Mortgage Notes, 5.875% due 11/15/33    284,478  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security    Value  
Utilities - 3.0% - (continued)        
$430,000   Edison International, Senior Unsecured Notes, 5.250% due 11/15/28  $ 423,323  
 143,400   Empresa Electrica Angamos SA, Senior Secured Notes, 4.875% due 5/25/29    129,060  
 104,860   Empresa Electrica Cochrane SpA, Senior Secured Notes, 5.500% due 5/14/27    97,639  
 200,000   Empresas Publicas de Medellin ESP, Senior Unsecured Notes, 4.375% due 2/15/31    155,171  
 445,000   Enel Finance International NV, Senior Unsecured Notes, 5.000% due 6/15/32(c)    417,532  
     Entergy Louisiana LLC, 1st Mortgage Notes:        
 1,100,000   4.950% due 1/15/45    944,856  
 170,000   4.750% due 9/15/52    144,580  
 735,000   Essential Utilities Inc., Senior Unsecured Notes, 3.351% due 4/15/50    480,617  
 780,000   Evergy Inc., Senior Unsecured Notes, 2.900% due 9/15/29    680,353  
     Eversource Energy, Senior Unsecured Notes:        
 150,000   5.450% due 3/1/28    150,154  
 310,000   5.950% due 2/1/29    315,989  
 960,000   5.125% due 5/15/33    926,141  
     Exelon Corp., Senior Unsecured Notes:        
 815,000   5.150% due 3/15/28    813,880  
 120,000   4.100% due 3/15/52    91,643  
 132,941   Fenix Power Peru SA, Senior Unsecured Notes, 4.317% due 9/20/27    122,310  
     Georgia Power Co., Senior Unsecured Notes:        
 205,000   4.650% due 5/16/28    201,301  
 415,000   4.700% due 5/15/32    397,224  
 290,000   4.950% due 5/17/33    280,665  
 380,000   ITC Holdings Corp., Senior Unsecured Notes, 2.950% due 5/14/30(c)    323,979  
 161,000   JSW Hydro Energy Ltd., Senior Secured Notes, 4.125% due 5/18/31    136,528  
 300,000   Kallpa Generacion SA, Company Guaranteed Notes, 4.125% due 8/16/27    280,160  
 275,000   KeySpan Gas East Corp., Senior Unsecured Notes, 5.994% due 3/6/33(c)    269,949  
 90,000   Leeward Renewable Energy Operations LLC, Company Guaranteed Notes, 4.250% due 7/1/29(c)    75,719  
 643,680   LLPL Capital Pte Ltd., Senior Secured Notes, 6.875% due 2/4/39(c)    600,167  
 400,000   Mercury Chile Holdco LLC, Senior Secured Notes, 6.500% due 1/24/27(c)    364,496  
 131,562   Mexico Generadora de Energia S de rl, Senior Secured Notes, 5.500% due 12/6/32    125,491  
 500,000   Minejesa Capital BV, Senior Secured Notes, 5.625% due 8/10/37    407,522  
 230,573   Mong Duong Finance Holdings BV, Senior Secured Notes, 5.125% due 5/7/29    211,625  
     Monongahela Power Co., 1st Mortgage Notes:        
 255,000   5.850% due 2/15/34(c)    255,966  
 265,000   5.400% due 12/15/43(c)    242,251  
 135,000   National Grid PLC, Senior Unsecured Notes, 5.602% due 6/12/28    136,102  
     National Rural Utilities Cooperative Finance Corp., Secured Notes:        
 510,000   4.150% due 12/15/32    464,870  
 140,000   5.800% due 1/15/33    142,701  
     NextEra Energy Capital Holdings Inc., Company Guaranteed Notes:        
 220,000   4.255% due 9/1/24    217,334  
 890,000   4.625% due 7/15/27    872,412  
 1,455,000   2.250% due 6/1/30    1,199,555  
 135,000   5.050% due 2/28/33    130,517  
     NiSource Inc., Senior Unsecured Notes:        
 1,619,000   3.600% due 5/1/30    1,451,213  
 50,000   5.400% due 6/30/33    49,510  
 200,000   NRG Energy Inc., Company Guaranteed Notes, 3.625% due 2/15/31(c)    163,532  
 410,000   Oglethorpe Power Corp., 1st Mortgage Notes, 5.050% due 10/1/48    348,830  
 200,000   Ohio Edison Co., Senior Unsecured Notes, 5.500% due 1/15/33(c)    194,809  
 480,000   Ohio Power Co., Senior Unsecured Notes, 5.000% due 6/1/33    461,083  
 2,855,000   Oklahoma Gas & Electric Co., Senior Unsecured Notes, 5.600% due 4/1/53    2,759,233  
 380,000   Oncor Electric Delivery Co. LLC, Senior Secured Notes, 5.650% due 11/15/33(c)    390,035  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security    Value  
Utilities - 3.0% - (continued)        
$200,000   Orazul Energy Peru SA, Company Guaranteed Notes, 5.625% due 4/28/27  $ 184,000  
     Pacific Gas & Electric Co.:        
     1st Mortgage Notes:        
 1,385,000   5.450% due 6/15/27    1,366,412  
 665,000   6.100% due 1/15/29    668,174  
 665,000   4.550% due 7/1/30    610,755  
 1,820,000   2.500% due 2/1/31    1,449,516  
 470,000   6.150% due 1/15/33    468,128  
 930,000   6.400% due 6/15/33    941,034  
 230,000   4.950% due 7/1/50    182,997  
 610,000   Senior Secured Notes, 3.250%  due 6/1/31    506,815  
     Pike Corp.:        
 125,000   Company Guaranteed Notes, 5.500%  due 9/1/28(c)    113,850  
 65,000   Senior Unsecured Notes, 8.625%  due 1/31/31(c)(h)    65,723  
 150,000   PPL Capital Funding Inc., Company Guaranteed Notes, 4.125% due 4/15/30    138,539  
 285,000   Public Service Enterprise Group Inc., Senior Unsecured Notes, 6.125% due 10/15/33    294,680  
     Puget Energy Inc., Senior Secured Notes:        
 535,000   3.650% due 5/15/25    516,963  
 230,000   4.100% due 6/15/30    205,265  
 625,000   Sempra, Senior Unsecured Notes, 3.400% due 2/1/28    579,328  
 288,278   Southaven Combined Cycle Generation LLC, Secured Notes, 3.846% due 8/15/33    263,684  
     Southern California Edison Co., 1st Mortgage Notes:        
 580,000   4.900% due 6/1/26    575,446  
 155,000   5.850% due 11/1/27    158,899  
 230,000   5.300% due 3/1/28    231,706  
 130,000   2.850% due 8/1/29    114,682  
 325,000   2.250% due 6/1/30    269,318  
 545,000   4.125% due 3/1/48    423,848  
 5,000,000   4.875% due 3/1/49    4,272,332  
     Southern California Gas Co., 1st Mortgage Notes:        
 555,000   5.200% due 6/1/33    546,664  
 5,955,000   5.750% due 6/1/53    5,845,623  
     Southern Co., Senior Unsecured Notes:        
 535,000   4.850% due 6/15/28    527,088  
 765,000   3.700% due 4/30/30    699,393  
 455,000   5.200% due 6/15/33    446,619  
 200,000   5.700% due 3/15/34    203,780  
 110,000   Southern Co. Gas Capital Corp., Company Guaranteed Notes, 5.750% due 9/15/33    111,325  
 438,000   Southwest Gas Corp., Senior Unsecured Notes, 2.200% due 6/15/30    355,824  
 555,000   Southwestern Electric Power Co., Senior Unsecured Notes, 5.300% due 4/1/33    532,792  
 665,000   Virginia Electric & Power Co., Senior Unsecured Notes, 5.000% due 4/1/33    642,182  
 85,000   Vistra Operations Co. LLC, Company Guaranteed Notes, 7.750% due 10/15/31(c)    86,992  
 230,000   Xcel Energy Inc., Senior Unsecured Notes, 4.600% due 6/1/32    215,012  
     Total Utilities    62,223,181  
     TOTAL CORPORATE BONDS & NOTES        
     (Cost - $510,364,831)    461,054,111  
COLLATERALIZED MORTGAGE OBLIGATIONS - 22.4%        
 778,275   510 Asset Backed Trust, Series 2021-NPL1, Class A1, step bond to yield, 2.240% due 6/25/61(c)(d)    731,292  
 274,937   Ajax Mortgage Loan Trust, Series 2021-C, Class A, step bond to yield, 2.115% due 1/25/61(c)    261,016  
     Alternative Loan Trust:        
 558,896   Series 2005-28CB, Class 1A7, 5.500% due 8/25/35    466,270  
 4,819,200   Series 2005-7CB, Class 2A2, 0.000% (1-Month TSFR + 4.936%) due 3/1/38(b)(i)    167,302  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security    Value  
COLLATERALIZED MORTGAGE OBLIGATIONS - 22.4% (continued)        
$4,819,200   Series 2005-7CB, Class 2A5, 5.500% (1-Month TSFR + 0.564%) due 3/1/38(b)  $ 3,532,862  
 3,884,392   Series 2006-OA2, Class A1, 5.866% (1-Month TSFR + 0.534%) due 5/20/46(b)    3,188,900  
 2,114,425   Series 2007-4CB, Class 1A1, 5.750% (1-Month TSFR + 0.714%) due 4/25/37(b)    1,609,967  
 6,441,908   Series 2007-9T1, Class 2A2, 6.000% due 5/25/37    2,927,290  
     Angel Oak Mortgage Trust:        
 311,223   Series 2020-R1, Class A1, 0.990% due 4/25/53(b)(c)    280,669  
 374,629   Series 2021-1, Class A1, 0.909% due 1/25/66(b)(c)    311,729  
 328,315   Series 2021-2, Class A1, 0.985% due 4/25/66(b)(c)    267,293  
 622,315   Series 2021-3, Class A1, 1.068% due 5/25/66(b)(c)    506,996  
 523,309   Series 2021-4, Class A1, 1.035% due 1/20/65(b)(c)    411,360  
 800,596   Series 2021-5, Class A1, 0.951% due 7/25/66(b)(c)    659,361  
 1,188,362   Series 2021-6, Class A1, 1.458% due 9/25/66(b)(c)    920,690  
 1,370,279   Series 2022-1, Class A1, step bond to yield, 2.881% due 12/25/66(c)    1,186,044  
     Arbor Multifamily Mortgage Securities Trust:        
 7,965,000   Series 2020-MF1, Class A5, 2.756% due 5/15/53(c)    6,763,777  
 1,485,000   Series 2021-MF2, Class A5, 2.513% due 6/15/54(c)    1,195,684  
 1,920,000   Series 2021-MF2, Class C, 2.809% due 6/15/54(b)(c)    1,285,615  
 2,550,000   Series 2022-MF4, Class A5, 3.403% due 2/15/55(b)(c)    2,166,054  
 2,600,000   Series 2022-MF4, Class B, 3.403% due 2/15/55(b)(c)    1,977,257  
 500,000   BAMLL Commercial Mortgage Securities Trust, Series 2018-DSNY, Class C, 6.970% (1-Month TSFR + 1.647%) due 9/15/34(b)(c)    496,402  
     BANK:        
 10,016,368   Series 2017-BNK4, Class XA, 1.498% due 5/15/50(b)(i)    344,722  
 15,427,573   Series 2018-BN10, Class XA, 0.834% due 2/15/61(b)(i)    365,305  
 7,540,000   Series 2020-BN30, Class A4, 1.925% due 12/15/53    5,780,844  
 5,816,000   Series 2021-BN35, Class A5, 2.285% due 6/15/64    4,611,929  
 6,446,262   Series 2022-BNK39, Class XA, 0.533% due 2/15/55(b)(i)    171,242  
 1,689,845   Series 2023-BNK45, Class XA, 1.204% due 2/15/56(b)(i)    107,012  
 7,010,000   Series 2023-BNK46, Class A4, 5.745% due 8/15/56    7,066,796  
 1,172,840   BANKFIVE Corp., Series 2023-5YR4, Class XA, Series , Class , 0.000% due 12/15/56(i)    47,426  
     BBCMS Mortgage Trust:        
 1,236,000   Series 2018-TALL, Class F, 8.755% (1-Month TSFR + 3.432%) due 3/15/37(b)(c)    569,301  
 1,800,000   Series 2020-C6, Class A4, 2.639% due 2/15/53    1,515,187  
 1,466,301   Series 2020-C7, Class XA, 1.729% due 4/15/53(b)(i)    92,276  
 305,000   Series 2022-C15, Class A5, 3.662% due 4/15/55(b)    263,710  
 280,000   Series 2022-C16, Class A5, 4.600% due 6/15/55(b)    259,705  
 365,000   Series 2022-C18, Class A4, 5.439% due 12/15/55(b)    360,268  
 120,000   Series 2022-C18, Class A5, 5.710% due 12/15/55(b)    120,605  
 1,995,074   Bear Stearns ALT-A Trust, Series 2006-1, Class 21A2, 4.269% due 2/25/36(b)    1,355,909  
     Benchmark Mortgage Trust:        
 1,835,000   Series 2019-B15, Class A5, 2.928% due 12/15/72    1,536,371  
 2,361,221   Series 2020-B22, Class XA, 1.626% due 1/15/54(b)(i)    186,923  
 6,228,860   Series 2023-B39, Class XA, 0.724% due 7/15/56(b)(i)    251,092  
 384,635   BINOM Securitization Trust, Series 2021-INV1, Class A1, 2.034% due 6/25/56(b)(c)    322,235  
     BRAVO Residential Funding Trust:        
 1,003,169   Series 2021-C, Class A1, step bond to yield, 1.620% due 3/1/61(c)    911,824  
 213,993   Series 2021-NQM1, Class A1, 0.941% due 2/25/49(b)(c)    185,557  
 173,252   Series 2021-NQM2, Class A1, 0.970% due 3/25/60(b)(c)    159,617  
 4,545,127   Series 2023-NQM5, Class A1, step bond to yield, 6.505% due 6/25/63(c)    4,541,674  
 1,072,767   BX, Series 2021-MFM1, Class D, 6.937% (1-Month TSFR + 1.614%) due 1/15/34(b)(c)    1,042,417  
     BX Commercial Mortgage Trust:        
 544,000   Series 2019-XL, Class D, 6.887% (1-Month TSFR + 1.564%) due 10/15/36(b)(c)    538,476  
 1,819,000   Series 2019-XL, Class E, 7.237% (1-Month TSFR + 1.914%) due 10/15/36(b)(c)    1,798,885  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security    Value  
COLLATERALIZED MORTGAGE OBLIGATIONS - 22.4% (continued)        
$3,145,000   Series 2019-XL, Class F, 7.437% (1-Month TSFR + 2.114%) due 10/15/36(b)(c)  $ 3,104,424  
 500,000   Series 2021-CIP, Class A, 6.358% (1-Month TSFR + 1.035%) due 12/15/38(b)(c)    486,195  
 2,900,000   Series 2021-VOLT, Class C, 6.537% (1-Month TSFR + 1.214%) due 9/15/36(b)(c)    2,772,576  
 536,000   Series 2021-VOLT, Class E, 7.437% (1-Month TSFR + 2.114%) due 9/15/36(b)(c)    508,413  
     BX Trust:        
 1,529,000   Series 2019-OC11, Class E, 4.075% due 12/9/41(b)(c)    1,239,684  
 1,400,000   Series 2021-ARIA, Class A, 6.337% (1-Month TSFR + 1.014%) due 10/15/36(b)(c)    1,359,742  
 5,900,000   CAMB Commercial Mortgage Trust, Series 2021-CX2, Class C, 2.864% due 11/10/46(b)(c)    4,391,680  
 249,855   Cascade MH Asset Trust, Series 2021-MH1, Class A1, 1.753% due 2/25/46(c)    212,296  
 15,824,514   CD Mortgage Trust, Series 2017-CD4, Class XA, 1.378% due 5/10/50(b)(i)    495,964  
 1,834,000   CGDB Commercial Mortgage Trust, Series 2019-MOB, Class E, 7.437% (1-Month TSFR + 2.114%) due 11/15/36(b)(c)    1,741,342  
     CIM Trust:        
 1,016,642   Series 2021-R6, Class A1, 1.425% due 7/25/61(b)(c)    865,850  
 5,083,502   Series 2023-R2, Class A1, 5.500% due 8/25/64(b)(c)    5,002,856  
     Citigroup Commercial Mortgage Trust:        
 1,415,000   Series 2015-GC31, Class A4, 3.762% due 6/10/48    1,348,306  
 31,076,280   Series 2015-GC35, Class XA, 0.858% due 11/10/48(b)(i)    321,751  
 805,000   Series 2016-P4, Class B, 3.377% due 7/10/49    705,188  
 7,640,000   Series 2019-GC43, Class A4, 3.038% due 11/10/52    6,479,608  
 2,850,000   Series 2023-SMRT, Class B, 6.048% due 10/12/40(b)(c)    2,777,420  
     COLT Mortgage Loan Trust:        
 544,461   Series 2021-1, Class A1, 0.910% due 6/25/66(b)(c)    425,431  
 536,083   Series 2021-2, Class A1, 0.924% due 8/25/66(b)(c)    418,237  
 154,087   Series 2021-2R, Class A1, 0.798% due 7/27/54(c)    132,274  
 960,501   Series 2021-3, Class A1, 0.956% due 9/27/66(b)(c)    743,725  
 1,275,489   Series 2021-HX1, Class A1, 1.110% due 10/25/66(b)(c)    1,036,259  
 1,332,426   Series 2022-1, Class A1, 2.284% due 12/27/66(b)(c)    1,134,790  
     Commercial Mortgage Trust:        
 1,050,000   Series 2015-CR23, Class A4, 3.497% due 5/10/48    1,009,011  
 3,035,000   Series 2020-CX, Class A, 2.173% due 11/10/46(c)    2,355,004  
 2,615,000   Series 2020-CX, Class B, 2.446% due 11/10/46(c)    2,037,838  
 1,150,000   Series 2020-CX, Class C, 2.773% due 11/10/46(b)(c)    878,823  
 3,750,000   Series 2020-SBX, Class C, 2.056% due 1/10/38(b)(c)    3,208,253  
 203,000   Series 2022-HC, Class A, 2.819% due 1/10/39(c)    173,612  
 300,000   Series 2022-HC, Class C, 3.376% due 1/10/39(c)    241,374  
     Connecticut Avenue Securities Trust:        
 133,074   Series 2022-R08, Class 1M1, 7.878% (SOFR30A + 2.550%) due 7/25/42(b)(c)    136,402  
 324,957   Series 2023-R03, Class 2M1, 7.828% (SOFR30A + 2.500%) due 4/25/43(b)(c)    329,478  
 227,553   Series 2023-R04, Class 1M1, 7.629% (SOFR30A + 2.300%) due 5/25/43(b)(c)    231,013  
 654,716   Series 2023-R05, Class 1M1, 7.229% (SOFR30A + 1.900%) due 6/25/43(b)(c)    658,395  
 301,464   Series 2023-R06, Class 1M1, 7.028% (SOFR30A + 1.700%) due 7/25/43(b)(c)    302,029  
     Credit Suisse Commercial Mortgage Capital Trust:        
 1,199,066   Series 2018-RPL9, Class A, 3.850% due 9/25/57(b)(c)    1,109,189  
 405,404   Series 2021-AFC1, Class A1, 0.830% due 3/25/56(b)(c)    307,201  
 479,882   Series 2021-NQM5, Class A1, 0.938% due 5/25/66(b)(c)    369,809  
 2,982,796   Series 2021-RPL3, Class A1, 2.000% due 1/25/60(b)(c)    2,502,457  
 347,170   Series 2021-RPL4, Class A1, 1.796% due 12/27/60(b)(c)    327,949  
     Credit Suisse Mortgage Capital Certificates:        
 109,727   Series 2019-ICE4, Class D, 6.970% (1-Month TSFR + 1.647%) due 5/15/36(b)(c)    108,834  
 5,494,331   Series 2019-ICE4, Class E, 7.520% (1-Month TSFR + 2.197%) due 5/15/36(b)(c)    5,427,113  
     CSAIL Commercial Mortgage Trust:        
 1,985,982   Series 2015-C4, Class A3, 3.544% due 11/15/48    1,918,256  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security    Value  
COLLATERALIZED MORTGAGE OBLIGATIONS - 22.4% (continued)        
$824,000   Series 2016-C7, Class B, 4.472% due 11/15/49(b)  $ 719,605  
 1,205,000   Series 2018-C14, Class C, 5.066% due 11/15/51(b)    917,520  
 1,370,916   CSFB Mortgage-Backed Pass-Through Certificates, Series 2005-9, Class 5A6, 5.500% due 10/25/35    728,022  
     CSMC:        
 1,001,394   Series 2010-8R, Class 5A11, 4.809% due 2/26/37(b)(c)    928,023  
 535,617   Series 2020-NET, Class A, 2.257% due 8/15/37(c)    489,335  
 183,000   Series 2021-B33, Class A1, 3.053% due 10/10/43(c)    153,063  
 650,000   Series 2021-B33, Class A2, 3.167% due 10/10/43(c)    473,513  
 172,264   Series 2021-NQM1, Class A1, 0.809% due 5/25/65(b)(c)    143,323  
 698,262   Series 2021-NQM2, Class A1, 1.179% due 2/25/66(b)(c)    582,770  
 771,865   Series 2021-NQM4, Class A1, 1.101% due 5/25/66(b)(c)    624,259  
 1,316,604   Series 2021-NQM6, Class A1, 1.174% due 7/25/66(b)(c)   1,027,944 
 597,146   Series 2021-NQM8, Class A1, 1.841% due 10/25/66(b)(c)   486,882 
 1,460,848   Series 2022-NQM1, Class A1, 2.265% due 11/25/66(b)(c)   1,212,668 
 3,545,399   DBGS Mortgage Trust, Series 2018-BIOD, Class E, 7.319% (1-Month TSFR + 1.996%) due 5/15/35(b)(c)   3,411,276 
     DBJPM Mortgage Trust:     
 21,195,000   Series 2017-C6, Class XB, 0.337% due 6/10/50(b)(i)   218,972 
 2,219,876   Series 2020-C9, Class XA, 1.823% due 9/15/53(b)(i)   126,408 
 610,000   DC Office Trust, Series 2019-MTC, Class A, 2.965% due 9/15/45(c)   489,243 
     Deephaven Residential Mortgage Trust:     
 108,892   Series 2021-1, Class A1, 0.715% due 5/25/65(b)(c)   98,095 
 223,698   Series 2021-2, Class A1, 0.899% due 4/25/66(b)(c)   182,838 
 6,578,742   Series 2022-2, Class A1, 4.300% due 3/25/67(b)(c)   6,101,554 
 4,209,308   DSLA Mortgage Loan Trust, Series 2005-AR4, Class 1A, 5.966% (1-Month TSFR + 0.634%) due 8/19/45(b)   2,899,975 
     Ellington Financial Mortgage Trust:     
 83,646   Series 2021-1, Class A1, 0.797% due 2/25/66(b)(c)   68,334 
 226,014   Series 2021-2, Class A1, 0.931% due 6/25/66(b)(c)   175,280 
 860,195   Series 2021-3, Class A1, 1.241% due 9/25/66(b)(c)   660,940 
 675,673   Series 2022-1, Class A1, 2.206% due 1/25/67(b)(c)   552,564 
     Federal Home Loan Mortgage Corp. (FHLMC). REMICS:     
 586,284   Series 3835, Class FO, 0.000% due 4/15/41(j)   426,856 
 1,016,187   Series 4116, Class AP, 1.350% due 8/15/42   846,256 
 3,952,231   Series 4223, Class SB, 0.000% (SOFR30A + 5.293%) due 7/15/43(b)   2,555,986 
 1,000,000   Series 4265, Class GL, 3.000% due 4/15/42   828,636 
 697,029   Series 4447, Class IO, 5.000% due 3/15/45(i)   144,504 
 747,150   Series 4504, Class DZ, 3.500% due 8/15/45   669,189 
 132,645   Series 4518, Class CZ, 3.500% due 10/15/45   116,128 
 9,441,874   Series 4655, Class CZ, 3.000% due 2/15/47   7,835,032 
 22,264,167   Series 4726, Class Z, 3.500% due 10/15/47   19,419,989 
 161,375   Series 4751, Class PL, 3.000% due 12/15/47   117,574 
 4,219,902   Series 4892, Class ES, 0.707% (SOFR30A + 6.036%) due 7/25/45(b)(i)   436,624 
 8,399,726   Series 4957, Class PB, 2.500% due 3/25/50   6,614,442 
 350,517   Series 5018, Class LW, 1.000% due 10/25/40   271,314 
 705,843   Series 5083, Class AI, 2.500% due 3/25/51(i)   99,424 
 1,576,931   Series 5092, Class WI, 2.500% due 4/25/36(i)   156,119 
 857,748   Series 5169, Class IO, 3.000% due 9/25/51(i)   138,430 
 578,015   Series 5201, Class PA, 2.500% due 3/25/52   497,136 
 159,000   Series 5228, Class JL, 2.500% due 10/25/41   119,689 
     Federal National Mortgage Association (FNMA), Aces:     
 32,680,231   Series 2020-M12, Class IO, 1.404% due 7/25/29(b)(i)   1,558,530 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security  Value 
COLLATERALIZED MORTGAGE OBLIGATIONS - 22.4% (continued)     
$10,107,736   Series 2020-M15, Class X1, 1.557% due 9/25/31(b)(i)  $649,420 
 20,777,374   Series 2020-M7, Class X2, 1.331% due 3/25/31(b)(i)   1,251,465 
 5,488,835   Series 2022-M4, Class A1X, 2.547% due 5/25/30(b)   4,917,376 
 7,106,949   Series 2022-M5, Class A1, 2.437% due 1/1/34(b)   6,289,662 
     Federal National Mortgage Association (FNMA), Interest Strip:     
 1,199,619   Series 426, Class C38, 2.000% due 3/25/52(i)   151,748 
 768,656   Series 429, Class C3, 2.500% due 9/25/52(i)   117,577 
 1,008,620   Series 437, Class C8, 2.500% due 6/25/52(i)   151,324 
     Federal National Mortgage Association (FNMA), REMICS:     
 471,000   Series 2011-142, Class PE, 3.500% due 1/25/42   416,288 
 114,416   Series 2011-51, Class TO, 0.000% due 6/25/41(j)   83,918 
 655,518   Series 2012-120, Class ZB, 3.500% due 11/25/42   587,670 
 505,171   Series 2013-15, Class ZV, 3.000% due 3/25/43   432,422 
 134,688   Series 2013-2, Class MA, 3.500% due 2/25/43   122,130 
 1,072,000   Series 2013-62, Class PY, 2.500% due 6/25/43   849,215 
 1,302,287   Series 2013-72, Class IW, 3.500% due 7/25/33(i)   102,971 
 2,706,410   Series 2014-11, Class KZ, 2.500% due 10/25/41   2,310,570 
 538,831   Series 2014-95, Class ZC, 3.000% due 1/25/45   456,543 
 567,297   Series 2015-55, Class PD, 2.500% due 3/25/43   535,265 
 648,329   Series 2016-3, Class MI, 5.500% due 2/25/46(i)   100,761 
 514,995   Series 2016-43, Class GZ, 3.000% due 7/25/46   423,602 
 792,400   Series 2017-105, Class ZE, 3.000% due 1/25/48   588,842 
 699,022   Series 2017-22, Class BZ, 3.500% due 4/25/47   608,854 
 7,731,019   Series 2017-24, Class LG, 3.000% due 4/25/37   6,766,809 
 554,567   Series 2018-91, Class BE, 3.500% due 12/25/58   478,698 
 377,217   Series 2020-35, Class AI, 3.000% due 6/25/50(i)   60,051 
 648,241   Series 2020-74, Class HI, 5.500% due 10/25/50(i)   118,990 
 1,871,103   Series 2020-99, Class KI, 1.500% due 11/25/35(i)   101,486 
 965,783   Series 2021-3, Class NI, 2.500% due 2/25/51(i)   129,292 
 923,426   Series 2021-3, Class TI, 2.500% due 2/25/51(i)   148,444 
 11,166,842   Series 2021-4, Class GD, 1.000% due 2/25/51   8,144,525 
 966,007   Series 2021-95, Class GI, 3.000% due 1/25/52(i)   147,692 
 839,178   Series 2022-3, Class PI, 3.000% due 1/25/52(i)   103,761 
 9,250,672   Series 2023-36, Class IO, 2.500% due 10/25/52(i)   1,344,940 
     FMC GMSR Issuer Trust:     
 4,000,000   Series 2021-GT1, Class A, 3.620% due 7/25/26(b)(c)   3,372,325 
 3,420,000   Series 2021-GT2, Class A, 3.850% due 10/25/26(b)(c)   2,898,745 
     Freddie Mac Multifamily Structured Pass-Through Certificates:     
 105,347,764   Series K064, Class X1, 0.734% due 3/25/27(b)(i)   1,731,570 
 27,771,378   Series K066, Class X1, 0.884% due 6/25/27(b)(i)   596,385 
 2,068,570   Series K118, Class X1, 1.050% due 9/25/30(b)(i)   103,995 
 63,463,288   Series K119, Class X1, 1.023% due 9/25/30(b)(i)   3,078,071 
 29,030,351   Series K120, Class X1, 1.131% due 10/25/30(b)(i)   1,555,745 
 41,224,510   Series K121, Class X1, 1.118% due 10/25/30(b)(i)   2,184,099 
 12,702,872   Series K122, Class X1, 0.970% due 11/25/30(b)(i)   590,659 
 23,876,764   Series K124, Class X1, 0.810% due 12/25/30(b)(i)   947,523 
 53,709,203   Series K125, Class X1, 0.673% due 1/25/31(b)(i)   1,712,319 
 30,616,053   Series K129, Class X1, 1.142% due 5/25/31(b)(i)   1,720,304 
 30,142,667   Series K130, Class X1, 1.143% due 6/25/31(b)(i)   1,813,154 
 55,978,074   Series K132, Class X1, 0.608% due 8/25/31(b)(i)   1,750,160 
 30,160,960   Series K-1519, Class X1, 0.692% due 12/25/35(b)(i)   1,378,139 
 2,353,000   Series K753, Class X1, 0.227% due 1/1/50(b)(i)   38,115 
 1,500,000   Series Q001, Class A3, 3.815% due 2/25/32   1,391,972 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security   Value 
COLLATERALIZED MORTGAGE OBLIGATIONS - 22.4% (continued)     
$5,000,000   Freddie Mac STACR REMIC Trust, Series 2021-HQA2, Class M2, 7.378% (SOFR30A + 2.050%) due 12/25/33(b)(c)  $4,930,838 
     Freddie Mac Strips:     
 815,468   Series 303, Class C10, 3.500% due 1/15/33(i)   82,013 
 927,050   Series 375, Class C1, 2.500% due 1/25/51(i)   134,981 
 858,125   Series 386, Class C14, 2.500% due 3/15/52(i)   120,857 
 2,816,942   Series 389, Class C1, 1.500% due 5/15/37(i)   162,932 
 1,274,589   Series 389, Class C35, 2.000% due 6/15/52(i)   155,992 
     Freddie Mac Structured Agency Credit Risk Debt Notes:     
 95,024   Series 2022-HQA2, Class M1A, 7.978% (SOFR30A + 2.650%) due 7/25/42(b)(c)   96,921 
 377,608   Series 2023-HQA2, Class M1A, 7.328% (SOFR30A + 2.000%) due 6/25/43(b)(c)   379,938 
     GCAT Trust:     
 428,606   Series 2021-NQM1, Class A1, 0.874% due 1/25/66(b)(c)   342,532 
 466,617   Series 2021-NQM2, Class A1, 1.036% due 5/25/66(b)(c)   373,084 
 605,488   Series 2021-NQM3, Class A1, 1.091% due 5/25/66(b)(c)   486,621 
 837,767   Series 2021-NQM4, Class A1, 1.093% due 8/25/66(b)(c)   649,280 
 1,187,204   Series 2021-NQM5, Class A1, 1.262% due 7/25/66(b)(c)   918,403 
 431,578   Series 2021-NQM7, Class A1, 1.915% due 8/25/66(b)(c)   367,989 
     Government National Mortgage Association (GNMA):     
 678,641   Series 2012-116, Class IB, 4.000% due 9/16/42(i)   135,336 
 1,242,761   Series 2012-32, Class Z, 3.500% due 3/20/42   1,130,583 
 678,029   Series 2014-12, Class ZB, 3.000% due 1/16/44   588,459 
 672,422   Series 2014-46, Class IO, 5.000% due 3/16/44(i)   97,372 
 2,243,570   Series 2016-37, Class QF, 5.846% (1-Month TSFR + 0.514%) due 3/20/46(b)   2,152,908 
 625,000   Series 2018-37, Class BY, 3.500% due 3/20/48   529,717 
 502,717   Series 2019-5, Class JI, 5.000% due 7/16/44(i)   89,470 
 24,233,751   Series 2020-173, Class JI, 2.000% due 11/20/50(i)   2,702,095 
 15,049,455   Series 2021-129, Class IO, 0.982% due 6/16/63(b)(i)   1,014,363 
 11,000,799   Series 2021-137, Class IQ, 3.000% due 8/20/51(i)   1,703,078 
 21,478,546   Series 2021-184, Class IO, 0.883% due 12/16/61(b)(i)   1,380,800 
 867,161   Series 2021-215, Class KA, 2.500% due 10/20/49   739,589 
 13,879,412   Series 2021-30, Class IB, 2.500% due 2/20/51(i)   1,894,633 
 17,126,761   Series 2021-35, Class IO, 1.029% due 12/16/62(b)(i)   1,220,607 
 19,095,502   Series 2021-52, Class IO, 0.720% due 4/16/63(b)(i)   1,020,626 
 15,760,898   Series 2021-58, Class SL, 0.000% (1-Month TSFR + 3.636%) due 4/20/51(b)(i)   483,711 
 4,492,627   Series 2021-77, Class EA, 1.000% due 7/20/50   3,353,773 
 14,508,822   Series 2021-77, Class IT, 2.500% due 5/20/51(i)   1,984,360 
 19,667,469   Series 2021-79, Class IO, 0.882% due 8/16/63(b)(i)   1,233,428 
 10,227,292   Series 2022-174, Class AZ, 3.500% due 5/20/51   7,948,019 
 6,531,703   Series 2022-213, Class DO, 0.000% due 1/20/52(j)   1,962,085 
 459,802   Series 2022-24, Class GA, 3.000% due 2/20/52   404,272 
 28,072,124   Series 2022-49, Class IO, 0.762% due 3/16/64(b)(i)   1,625,331 
 15,874,200   Series 2022-61, Class EI, 3.000% due 7/20/51(i)   2,193,541 
 8,148,985   Series 2022-64, Class IO, 2.500% due 2/20/50(i)   963,942 
 31,152,181   Series 2022-80, Class IO, 0.593% due 6/16/64(b)(i)   1,512,114 
 28,605,046   Series 2022-82, Class IO, 0.538% due 2/16/64(b)(i)   1,333,770 
 500,000   Great Wolf Trust, Series 2019-WOLF, Class E, 8.169% (1-Month TSFR + 2.846%) due 12/15/36(b)(c)   491,442 
     GS Mortgage Securities Corp. Trust:     
 400,000   Series 2018-TWR, Class D, 7.220% (1-Month TSFR + 1.897%) due 7/15/31(b)(c)   184,993 
 400,000   Series 2018-TWR, Class E, 7.720% (1-Month TSFR + 2.397%) due 7/15/31(b)(c)   148,993 
 400,000   Series 2018-TWR, Class F, 8.420% (1-Month TSFR + 3.097%) due 7/15/31(b)(c)   99,993 
 400,000   Series 2018-TWR, Class G, 9.545% (1-Month TSFR + 4.222%) due 7/15/31(b)(c)   31,993 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		     Security     Value  
COLLATERALIZED MORTGAGE OBLIGATIONS - 22.4% (continued)        
$700,000   Series 2021-IP, Class D, 7.537% (1-Month TSFR + 2.214%) due 10/15/36(b)(c)  $634,660 
     GS Mortgage Securities Trust:     
 705,000   Series 2015-GC30, Class A4, 3.382% due 5/10/50   674,281 
 9,942,407   Series 2017-GS7, Class XA, 1.226% due 8/10/50(b)(i)   297,400 
 1,400,000   Series 2018-GS9, Class A4, 3.992% due 3/10/51(b)   1,277,953 
 1,200,000   Series 2018-GS9, Class C, 4.495% due 3/10/51(b)   962,978 
 286,035   Series 2019-GC38, Class A2, 3.872% due 2/10/52   283,024 
 1,500,000   Series 2020-GC45, Class A5, 2.911% due 2/13/53   1,272,639 
 4,573,778   HarborView Mortgage Loan Trust, Series 2006-14, Class 2A1A, 5.746% (1-Month TSFR + 0.414%) due 1/25/47(b)   3,976,927 
 1,845,937   Homes Trust, Series 2023-NQM2, Class A1, step bond to yield, 6.456% due 2/25/68(c)   1,840,635 
     Imperial Fund Mortgage Trust:     
 471,579   Series 2021-NQM2, Class A1, 1.073% due 9/25/56(b)(c)   364,041 
 860,934   Series 2021-NQM3, Class A1, 1.595% due 11/25/56(b)(c)   694,493 
 1,398,017   Series 2022-NQM2, Class A1, step bond to yield, 3.638% due 3/25/67(c)   1,248,947 
 500,000   IMT Trust, Series 2017-APTS, Class AFX, 3.478% due 6/15/34(c)   490,108 
     JP Morgan Chase Commercial Mortgage Securities Trust:     
 805,000   Series 2018-WPT, Class FFX, 5.542% due 7/5/33(b)(c)   450,963 
 1,950,000   Series 2019-OSB, Class A, 3.397% due 6/5/39(c)   1,684,021 
 823,000   Series 2020-ACE, Class C, 3.817% due 1/10/37(b)(c)   762,661 
 805,000   Series 2020-LOOP, Class E, 3.990% due 12/5/38(b)(c)   489,573 
 666,799   Series 2022-NLP, Class A, 5.919% (1-Month TSFR + 0.597%) due 4/15/37(b)(c)   606,570 
     JP Morgan Mortgage Trust:     
 1,941,075   Series 2006-S1, Class 2A9, 6.500% due 4/25/36   1,900,802 
 6,419,757   Series 2006-S4, Class A7, 6.000% due 1/25/37   2,535,047 
 1,518,151   Series 2021-3, Class B1, 2.939% due 7/25/51(b)(c)   1,159,207 
     JPMBB Commercial Mortgage Securities Trust:     
 475,000   Series 2014-C21, Class A5, 3.775% due 8/15/47   467,403 
 1,667,000   Series 2015-C27, Class C, 4.440% due 2/15/48(b)   1,250,410 
 1,205,000   Series 2015-C28, Class C, 4.272% due 10/15/48(b)   1,094,475 
 529,000   Series 2016-C1, Class A5, 3.576% due 3/17/49   499,950 
 1,100,000   JPMCC Commercial Mortgage Securities Trust, Series 2017-JP6, Class A5, 3.490% due 7/15/50   994,831 
 1,123,000   JPMDB Commercial Mortgage Securities Trust, Series 2020-COR7, Class B, 3.294% due 5/13/53(b)   688,691 
     Legacy Mortgage Asset Trust:     
 338,644   Series 2021-GS2, Class A1, step bond to yield, 1.750% due 4/25/61(c)   318,847 
 449,799   Series 2021-GS3, Class A1, step bond to yield, 1.750% due 7/25/61(c)   421,309 
 229,316   Series 2021-GS4, Class A1, step bond to yield, 1.650% due 11/25/60(c)   212,826 
 2,897,723   Lehman XS Trust, Series 2007-4N, Class 1A3, 5.937% (1-Month TSFR + 0.594%) due 3/25/47(b)   2,445,009 
     Life Mortgage Trust:     
 1,619,935   Series 2021-BMR, Class A, 6.137% (1-Month TSFR + 0.814%) due 3/15/38(b)(c)   1,579,214 
 3,179,908   Series 2021-BMR, Class D, 6.837% (1-Month TSFR + 1.514%) due 3/15/38(b)(c)   3,044,034 
 2,400,000   Series 2022-BMR2, Class D, 7.865% (1-Month TSFR + 2.542%) due 5/15/39(b)(c)   2,258,697 
 825,040   Med Trust, Series 2021-MDLN, Class G, 10.687% (1-Month TSFR + 5.364%) due 11/15/38(b)(c)   775,699 
 6,136,229   Merrill Lynch Mortgage Investors Trust, Series 2006-AF1, Class AF1, 5.750% due 8/25/36   2,996,527 
     MFA Trust:     
 247,612   Series 2021-NQM1, Class A1, 1.153% due 4/25/65(b)(c)   218,365 
 346,084   Series 2021-NQM2, Class A1, 1.029% due 11/25/64(b)(c)   286,365 
 3,611,942   Series 2023-NQM3, Class A1, step bond to yield, 6.617% due 7/25/68(c)   3,605,481 
     Morgan Stanley Bank of America Merrill Lynch Trust:     
 293,000   Series 2014-C19, Class AS, 3.832% due 12/15/47   281,762 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		     Security     Value  
COLLATERALIZED MORTGAGE OBLIGATIONS - 22.4% (continued)        
$15,516,173   Series 2014-C19, Class XA, 1.099% due 12/15/47(b)(i)  $69,274 
 2,583,782   Series 2015-C20, Class A4, 3.249% due 2/15/48   2,494,276 
 1,405,000   Series 2015-C26, Class A5, 3.531% due 10/15/48   1,337,345 
 1,652,000   Series 2016-C31, Class C, 4.401% due 11/15/49(b)   1,245,991 
     Morgan Stanley Capital I Trust:     
 13,838,951   Series 2016-UB11, Class XA, 1.573% due 8/15/49(b)(i)   417,132 
 11,944,540   Series 2016-UB12, Class XA, 0.786% due 12/15/49(b)(i)   186,472 
 1,356,000   Series 2019-H7, Class AS, 3.524% due 7/15/52   1,166,674 
 583,000   Series 2019-H7, Class B, 3.725% due 7/15/52   467,543 
 21,417,107   Series 2019-L3, Class XA, 0.754% due 11/15/52(b)(i)   601,088 
 806,000   Series 2020-L4, Class B, 3.082% due 2/15/53   590,731 
 1,485,384   Morgan Stanley Residential Mortgage Loan Trust, Series 2020-RPL1, Class A1, 5.693% due 10/25/60(b)(c)   1,472,496 
     New Residential Mortgage Loan Trust:     
 321,493   Series 2021-NQ1R, Class A1, 0.943% due 7/25/55(b)(c)   273,024 
 206,137   Series 2021-NQ2R, Class A1, 0.941% due 10/25/58(b)(c)   184,151 
 1,034,946   Series 2021-NQM3, Class A1, 1.156% due 11/27/56(b)(c)   837,135 
 984,212   NMLT Trust, Series 2021-INV1, Class A1, 1.185% due 5/25/56(b)(c)   787,384 
     OBX Trust:     
 665,694   Series 2021-NQM1, Class A1, 1.072% due 2/25/66(b)(c)   540,801 
 607,507   Series 2021-NQM3, Class A1, 1.054% due 7/25/61(b)(c)   449,108 
 1,176,624   Series 2022-NQM1, Class A1, 2.305% due 11/25/61(b)(c)   979,309 
 3,499,009   Series 2023-NQM3, Class A1, step bond to yield, 5.949% due 2/25/63(c)   3,468,080 
     PMT Credit Risk Transfer Trust:     
 766,720   Series 2019-2R, Class A, 9.216% (1-Month TSFR + 3.864%) due 5/30/25(b)(c)   766,439 
 387,071   Series 2019-3R, Class A, 9.145% (SOFR30A + 3.814%) due 11/27/31(b)(c)   385,873 
 1,249,936   PRET LLC, Series 2021-RN3, Class A1, step bond to yield, 1.843% due 9/25/51(c)   1,149,806 
 880,108   Pretium Mortgage Credit Partners LLC, Series 2021-RN1, Class A1, step bond to yield, 1.992% due 2/25/61(c)   837,400 
     PRPM LLC:     
 227,665   Series 2021-2, Class A1, 2.115% due 3/25/26(b)(c)   220,877 
 381,774   Series 2021-3, Class A1, step bond to yield, 1.867% due 4/25/26(c)   365,470 
 616,168   Series 2021-5, Class A1, step bond to yield, 1.793% due 6/25/26(c)   584,200 
 525,097   Series 2021-6, Class A1, step bond to yield, 1.793% due 7/25/26(c)   497,997 
 3,084,095   Series 2021-7, Class A1, step bond to yield, 1.867% due 8/25/26(c)   2,916,030 
 558,870   Series 2021-8, Class A1, 1.743% due 9/25/26(b)(c)   524,559 
 1,457,304   Series 2021-9, Class A1, step bond to yield, 2.363% due 10/25/26(c)   1,378,904 
 221,761   Series 2021-RPL1, Class A1, step bond to yield, 1.319% due 7/25/51(c)   195,338 
 916,090   Series 2022-5, Class A1, step bond to yield, 6.900% due 9/27/27(c)   908,519 
     Rali Trust:     
 1,102,415   Series 2005-QS13, Class 1A3, 5.500% due 9/25/35   880,733 
 2,917,848   Series 2006-QS17, Class A8, 6.000% due 12/25/36   2,306,584 
 3,565,104   Residential Asset Securitization Trust, Series 2005-A8CB, Class A6, 5.000% due 7/25/35   2,055,698 
     Residential Mortgage Loan Trust:     
 3,100,000   Series 2020-1, Class M1, 3.242% due 1/26/60(b)(c)   2,674,461 
 205,081   Series 2021-1R, Class A1, 0.859% due 1/25/65(b)(c)   186,524 
     Seasoned Credit Risk Transfer Trust:     
 311,951   Series 2019-1, Class MA, 3.500% due 7/25/58   287,004 
 498,988   Series 2019-1, Class MT, 3.500% due 7/25/58   430,573 
 5,393,093   Series 2019-4, Class MV, 3.000% due 2/25/59   4,408,186 
 623,849   Series 2020-1, Class MT, 2.500% due 8/25/59   496,890 
 6,097,765   Series 2020-2, Class MT, 2.000% due 11/25/59   4,724,853 
 5,924,764   Series 2020-3, Class M5TW, 3.000% due 5/25/60   5,156,848 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		     Security     Value  
COLLATERALIZED MORTGAGE OBLIGATIONS - 22.4% (continued)        
$3,640,000   SFAVE Commercial Mortgage Securities Trust, Series 2015-5AVE, Class B, 4.534% due 1/5/43(b)(c)  $2,270,228 
     SG Residential Mortgage Trust:     
 870,271   Series 2021-1, Class A1, 1.160% due 7/25/61(b)(c)   664,623 
 5,238,000   Series 2021-2, Class B1, 4.038% due 12/25/61(b)(c)   3,273,599 
 5,150,000   SMRT, Series 2022-MINI, Class D, 7.273% (1-Month TSFR + 1.950%) due 1/15/39(b)(c)   4,872,153 
 491,382   STAR Trust, Series 2021-1, Class A1, 1.219% due 5/25/65(b)(c)   427,540 
     Starwood Mortgage Residential Trust:     
 169,924   Series 2021-2, Class A1, 0.943% due 5/25/65(b)(c)   150,913 
 739,613   Series 2021-3, Class A1, 1.127% due 6/25/56(b)(c)   583,776 
 987,803   Series 2021-4, Class A1, 1.162% due 8/25/56(b)(c)   796,981 
 928,438   Series 2021-6, Class A1, 1.920% due 11/25/66(b)(c)   738,401 
 3,480,000   STWD Trust, Series 2021-FLWR, Class D, 6.813% (1-Month TSFR + 1.490%) due 7/15/36(b)(c)   3,357,633 
 521,422   Toorak Mortgage Corp. Ltd., Series 2021-1, Class A1, step bond to yield, 2.240% due 6/25/24(c)   508,916 
     Towd Point Mortgage Trust:     
 1,497,809   Series 2021-R1, Class A1, 2.918% due 11/30/60(b)(c)   1,227,436 
 2,949,818   Series 2022-4, Class A1, 3.750% due 9/25/62(c)   2,679,025 
 159,783   Triangle Re Ltd., Series 2021-3, Class M1A, 7.228% (SOFR30A + 1.900%) due 2/25/34(b)(c)   159,946 
 372,495   TRK Trust, Series 2021-INV1, Class A1, 1.153% due 7/25/56(b)(c)   313,771 
 1,105,000   TYSN Mortgage Trust, Series 2023-CRNR, Class A, 6.799% due 12/10/38(b)(c)(d)(h)   1,115,060 
 4,261,682   UBS Commercial Mortgage Trust, Series 2017-C1, Class XA, 1.684% due 6/15/50(b)(i)   170,166 
     VCAT LLC:     
 142,497   Series 2021-NPL2, Class A1, step bond to yield, 2.115% due 3/27/51(c)   138,191 
 667,112   Series 2021-NPL4, Class A1, step bond to yield, 1.868% due 8/25/51(c)   629,084 
     Verus Securitization Trust:     
 3,814,000   Series 2021-1, Class B1, 2.977% due 1/25/66(b)(c)   2,412,992 
 270,179   Series 2021-2, Class A1, 1.031% due 2/25/66(b)(c)   225,418 
 422,164   Series 2021-4, Class A1, 0.938% due 7/25/66(b)(c)   325,198 
 1,044,926   Series 2021-5, Class A1, 1.013% due 9/25/66(b)(c)   813,799 
 1,071,946   Series 2021-6, Class A1, 1.630% due 10/25/66(b)(c)   865,892 
 1,274,702   Series 2021-7, Class A1, 1.829% due 10/25/66(b)(c)   1,071,786 
 210,246   Series 2021-R1, Class A1, 0.820% due 10/25/63(b)(c)   188,183 
 310,719   Series 2021-R2, Class A1, 0.918% due 2/25/64(b)(c)   268,548 
 895,969   Series 2022-1, Class A1, step bond to yield, 2.724% due 1/25/67(c)   778,116 
 3,427,580   Series 2023-4, Class A1, step bond to yield, 5.811% due 5/25/68(c)   3,388,465 
 3,517,400   Series 2023-INV1, Class A1, step bond to yield, 5.999% due 2/25/68(c)   3,483,577 
 259,865   VOLT C LLC, Series 2021-NPL9, Class A1, step bond to yield, 1.992% due 5/25/51(c)   242,977 
 691,683   VOLT XCIII LLC, Series 2021-NPL2, Class A1, step bond to yield, 1.893% due 2/27/51(c)   650,742 
 1,449,257   VOLT XCVII LLC, Series 2021-NPL6, Class A1, step bond to yield, 2.240% due 4/25/51(c)   1,365,660 
     Wells Fargo Commercial Mortgage Trust:     
 1,400,000   Series 2016-BNK1, Class A3, 2.652% due 8/15/49   1,276,154 
 8,911,764   Series 2017-C38, Class XA, 1.069% due 7/15/50(b)(i)   221,270 
 707,883   Series 2018-C45, Class ASB, 4.147% due 6/15/51   689,177 
 806,000   Series 2020-C55, Class AS, 2.937% due 2/15/53   668,778 
 3,040,000   Series 2021-SAVE, Class D, 7.937% (1-Month TSFR + 2.614%) due 2/15/40(b)(c)   2,715,962 
 500,000   WFRBS Commercial Mortgage Trust, Series 2014-C22, Class A5, 3.752% due 9/15/57   486,103 
     TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS     
     (Cost - $539,997,095)   455,765,665 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		     Security     Value  
U.S. GOVERNMENT OBLIGATIONS - 18.6%        
    U.S. Treasury Bonds:    
$5,920,000   4.625% due 2/28/25  $5,889,244 
 1,780,000   1.250% due 11/30/26   1,621,260 
 3,565,000   2.000% due 11/15/41   2,388,411 
 7,870,000   3.250% due 5/15/42   6,442,333 
 9,165,000   3.375% due 8/15/42   7,623,418 
 21,455,000   3.875% due 2/15/43   19,137,692 
 3,975,000   3.625% due 8/15/43   3,412,600 
 16,000,000   4.750% due 11/15/43   16,120,000 
 6,715,000   3.625% due 2/15/44   5,746,046 
 12,905,000   3.375% due 5/15/44   10,604,280 
 2,470,000   2.500% due 2/15/45   1,732,377 
 1,390,000   2.250% due 8/15/46   911,373 
 8,500,000   3.000% due 2/15/48   6,408,867 
 9,545,000   3.125% due 5/15/48   7,365,310 
 5,110,000   3.375% due 11/15/48   4,126,724 
 34,460,000   2.375% due 5/15/51   22,638,605 
 12,330,000   1.875% due 11/15/51   7,142,731 
 7,170,000   3.000% due 8/15/52   5,409,429 
 625,000   4.000% due 11/15/52   571,313 
 5,797,000   3.625% due 5/15/53   4,948,283 
 54,335,000   4.125% due 8/15/53   50,811,715 
 41,000,000   4.750% due 11/15/53   42,620,781 
     U.S. Treasury Inflation Indexed Bonds:     
 4,752,805   0.250% due 2/15/50   2,887,190 
 781,702   0.125% due 2/15/52   445,242 
     U.S. Treasury Inflation Indexed Notes:     
 1,207,777   0.750% due 7/15/28   1,133,738 
 4,602,508   0.250% due 7/15/29   4,150,302 
 2,743,074   0.125% due 7/15/30   2,410,691 
 1,023,574   1.375% due 7/15/33   958,361 
     U.S. Treasury Notes:     
 4,495,000   4.500% due 11/30/24   4,463,921 
 2,850,000   3.875% due 3/31/25   2,808,363 
 4,400,000   3.875% due 4/30/25   4,334,344 
 7,580,000   2.750% due 5/15/25   7,346,678 
 12,500,000   0.250% due 8/31/25   11,552,734 
 2,695,000   4.000% due 12/15/25   2,659,102 
 5,460,000   4.000% due 2/15/26   5,387,698 
 9,600,000   4.625% due 3/15/26   9,603,375 
 4,500,000   3.750% due 4/15/26   4,416,504 
 4,150,000   4.500% due 7/15/26   4,147,082 
 5,585,000   4.625% due 10/15/26   5,605,507 
 5,895,000   2.750% due 4/30/27   5,585,743 
 1,200,000   4.000% due 2/29/28   1,183,500 
 3,300,000   3.625% due 3/31/28   3,206,414 
 2,450,000   3.625% due 5/31/28   2,380,424 
 4,450,000   4.000% due 6/30/28   4,389,682 
 8,955,000   3.625% due 3/31/30   8,583,507 
 3,500,000   3.750% due 5/31/30   3,376,953 
 3,550,000   3.750% due 6/30/30   3,423,809 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		     Security     Value  
U.S. GOVERNMENT OBLIGATIONS - 18.6% (continued)        
$6,430,000   2.750% due 8/15/32  $5,678,243 
 26,340,000   3.500% due 2/15/33   24,615,553 
 9,390,000   3.625% due 2/15/53   8,011,944 
     TOTAL U.S. GOVERNMENT OBLIGATIONS     
     (Cost - $416,943,405)   378,419,396 
ASSET-BACKED SECURITIES - 9.8%     
 1,000,000   37 Capital CLO I Ltd., Series 2021-1A, Class A, 6.855% (3-Month TSFR + 1.462%) due 10/15/34(b)(c)   990,200 
     Affirm Asset Securitization Trust:     
 505,000   Series 2023-A, Class 1A, 6.610% due 1/18/28(c)   504,098 
 1,250,000   Series 2023-B, Class A, 6.820% due 9/15/28(c)   1,258,522 
 2,335,000   Aligned Data Centers Issuer LLC, Series 2023-1A, Class A2, 6.000% due 8/17/48(c)   2,273,359 
 500,000   ALM 2020 Ltd., Series 2020-1A, Class A2, 7.505% (3-Month TSFR + 2.112%) due 10/15/29(b)(c)   499,411 
 415,000   American Credit Acceptance Receivables Trust, Series 2023-3, Class B, 6.090% due 11/12/27(c)   415,009 
 1,470,000   AmeriCredit Automobile Receivables Trust, Series 2022-2, Class B, 4.810% due 4/18/28   1,441,675 
 4,000,000   AMSR Trust, Series 2020-SFR4, Class E2, 2.456% due 11/17/37(c)   3,671,748 
 1,000,000   Anchorage Capital CLO 4-R Ltd., Series 2014-4RA, Class B, 7.152% (3-Month TSFR + 1.762%) due 1/28/31(b)(c)   996,532 
 500,000   Apidos CLO XII, Series 2013-12A, Class CR, 7.455% (3-Month TSFR + 2.062%) due 4/15/31(b)(c)   485,036 
 260,000   Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL2, Class A, 6.537% (1-Month TSFR + 1.214%) due 5/15/36(b)(c)   256,899 
 1,039,642   ARI Fleet Lease Trust, Series 2023-A, Class A2, 5.410% due 2/17/32(c)   1,034,176 
 1,350,375   Asset Backed Securities Corp. Home Equity Loan Trust, Series 2007-HE2, Class A4, 5.687% (1-Month TSFR + 0.344%) due 5/25/37(b)   901,169 
 228,418   Avant Loans Funding Trust, Series 2021-REV1, Class A, 1.210% due 7/15/30(c)   226,249 
     Avis Budget Rental Car Funding AESOP LLC:     
 5,920,000   Series 2020-1A, Class A, 2.330% due 8/20/26(c)   5,612,560 
 470,000   Series 2023-7A, Class A, 5.900% due 8/21/28(c)   469,325 
 1,045,000   Bain Capital Credit CLO Ltd., Series 2023-4A, Class B, 7.923% (3-Month TSFR + 2.500%) due 10/21/36(b)(c)   1,046,436 
 1,000,000   Battalion CLO XI Ltd., Series 2017-11A, Class AR, 6.810% (3-Month TSFR + 1.412%) due 4/24/34(b)(c)   988,943 
 97,055   BHG Securitization Trust, Series 2021-B, Class A, 0.900% due 10/17/34(c)   93,833 
 1,085,000   BlueMountain CLO XXIV Ltd., Series 2019-24A, Class AR, 6.777% (3-Month TSFR + 1.362%) due 4/20/34(b)(c)   1,073,065 
     BSPRT Issuer Ltd.:     
 722,199   Series 2021-FL6, Class A, 6.537% (1-Month TSFR + 1.214%) due 3/15/36(b)(c)   709,560 
 370,000   Series 2021-FL7, Class B, 7.487% (1-Month TSFR + 2.164%) due 12/15/38(b)(c)   357,620 
 1,861,311   Carlyle Global Market Strategies CLO Ltd., Series 2014-3RA, Class A1A, 6.699% (3-Month TSFR + 1.312%) due 7/27/31(b)(c)   1,855,660 
 1,700,000   Carmax Auto Owner Trust, Series 2021-1, Class C, 0.940% due 12/15/26   1,581,702 
 1,037,473   Carrington Mortgage Loan Trust, Series 2006-NC4, Class A3, 5.617% (1-Month TSFR + 0.274%) due 10/25/36(b)   994,904 
 750,000   CBAM Ltd., Series 2019-10A, Class DR, 9.177% (3-Month TSFR + 3.762%) due 4/20/32(b)(c)   745,627 
 4,328,328   C-BASS Trust, Series 2006-CB9, Class A4, 5.917% (1-Month TSFR + 0.574%) due 11/25/36(b)   1,840,027 
     CF Hippolyta Issuer LLC:     
 285,227   Series 2020-1, Class A1, 1.690% due 7/15/60(c)   261,090 
 122,518   Series 2021-1A, Class A1, 1.530% due 3/15/61(c)   108,005 
 108,381   Series 2021-1A, Class B1, 1.980% due 3/15/61(c)   94,413 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security  Value 
ASSET-BACKED SECURITIES - 9.8% (continued)     
$183,701   Series 2022-1A, Class A1, 5.970% due 8/15/62(c)  $180,657 
 763,240   Chesapeake Funding II LLC, Series 2023-1A, Class A1, 5.650% due 5/15/35(c)   760,587 
 1,600,000   Clover CLO LLC, Series 2021-1A, Class A, 6.774% (3-Month TSFR + 1.362%) due 4/22/34(b)(c)   1,588,311 
 230,000   CNH Equipment Trust, Series 2023-A, Class A4, 4.770% due 10/15/30   224,852 
 990,252   CPS Auto Receivables Trust, Series 2023-B, Class A, 5.910% due 8/16/27(c)   989,108 
 1,250,000   CQS US CLO Ltd., Series 2021-1A, Class A, 6.897% (3-Month TSFR + 1.482%) due 1/20/35(b)(c)   1,232,500 
 3,984,798   Credit-Based Asset Servicing & Securitization LLC, Series 2006-CB4, Class AV4, 2.751% (1-Month TSFR + 0.594%) due 5/25/36(b)   2,457,738 
     DB Master Finance LLC:     
 1,594,238   Series 2019-1A, Class A23, 4.352% due 5/20/49(c)   1,487,039 
 327,320   Series 2021-1A, Class A23, 2.791% due 11/20/51(c)   256,543 
 365,000   DLLAA LLC, Series 2023-1A, Class A3, 5.640% due 2/22/28(c)   365,018 
     Domino's Pizza Master Issuer LLC:     
 976,938   Series 2019-1A, Class A2, 3.668% due 10/25/49(c)   856,347 
 1,251,900   Series 2021-1A, Class A2I, 2.662% due 4/25/51(c)   1,075,450 
     DT Auto Owner Trust:     
 310,000   Series 2023-1A, Class B, 5.190% due 10/16/28(c)   305,456 
 375,000   Series 2023-2A, Class B, 5.410% due 2/15/29(c)   370,564 
 970,000   Elmwood CLO 19 Ltd., Series 2022-6A, Class BR, 7.797% (3-Month TSFR + 2.400%) due 10/17/36(b)(c)   969,208 
 655,000   Elmwood CLO 23 Ltd., Series 2023-2A, Class B, 7.644% (3-Month TSFR + 2.250%) due 4/16/36(b)(c)   651,129 
 480,000   Enterprise Fleet Financing LLC, Series 2023-1, Class A3, 5.420% due 10/22/29(c)   477,765 
     Exeter Automobile Receivables Trust:     
 600,000   Series 2021-1A, Class D, 1.080% due 11/16/26   578,244 
 900,000   Series 2021-1A, Class E, 2.210% due 2/15/28(c)   831,237 
 202,992   Series 2022-1A, Class B, 2.180% due 6/15/26   202,111 
 197,000   Series 2022-6A, Class B, 6.030% due 8/16/27   196,659 
 470,000   Series 2023-1A, Class B, 5.720% due 4/15/27   468,141 
 201,000   Series 2023-3A, Class B, 6.110% due 9/15/27   200,615 
 800,000   Fillmore Park CLO Ltd., Series 2018-1A, Class D, 8.555% (3-Month TSFR + 3.162%) due 7/15/30(b)(c)   780,978 
 5,207,548   First Franklin Mortgage Loan Trust, Series 2007-FF2, Class A1, 5.737% (1-Month TSFR + 0.394%) due 3/25/37(b)   2,637,813 
 1,362,296   FirstKey Homes Trust, Series 2022-SFR2, Class A, 4.250% due 7/17/39(c)   1,284,523 
     Flagship Credit Auto Trust:     
 173,000   Series 2023-1, Class B, 5.050% due 1/18/28(c)   170,542 
 470,000   Series 2023-2, Class B, 5.210% due 5/15/28(c)   463,226 
 5,640,000   Ford Credit Auto Lease Trust, Series 2023-B, Class B, 6.200% due 2/15/27   5,665,579 
     Ford Credit Auto Owner Trust:     
 6,750,000   Series 2020-1, Class C, 2.540% due 8/15/31(c)   6,438,120 
 3,650,000   Series 2020-2, Class C, 1.740% due 4/15/33(c)   3,351,034 
 3,350,000   Series 2023-B, Class B, 5.560% due 3/15/29   3,325,045 
 2,405,000   Series 2023-B, Class C, 5.710% due 12/15/30   2,387,380 
 2,000,000   Franklin Park Place CLO I LLC, Series 2022-1A, Class A, 6.794% (3-Month TSFR + 1.400%) due 4/14/35(b)(c)   1,985,120 
 1,690,000   FS Rialto, Series 2021-FL3, Class A, 6.694% (1-Month TSFR + 1.364%) due 11/16/36(b)(c)   1,650,876 
 541,224   FS RIALTO, Series 2021-FL2, Class A, 6.664% (1-Month TSFR + 1.334%) due 5/16/38(b)(c)   529,163 
 2,500,000   Generate CLO 6 Ltd., Series 6A, Class A1R, 6.874% (3-Month TSFR + 1.462%) due 1/22/35(b)(c)   2,482,500 
     GLS Auto Receivables Issuer Trust:     

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security  Value 
ASSET-BACKED SECURITIES - 9.8% (continued)     
$695,158   Series 2021-2A, Class C, 1.080% due 6/15/26(c)  $683,095 
 100,000   Series 2022-3A, Class B, 4.920% due 1/15/27(c)   98,750 
     GM Financial Consumer Automobile Receivables Trust:     
 2,750,000   Series 2021-1, Class C, 1.040% due 5/17/27   2,611,372 
 2,455,000   Series 2023-2, Class B, 4.820% due 10/16/28   2,401,466 
 1,500,000   Series 2023-2, Class C, 5.210% due 12/18/28   1,472,950 
 1,555,000   Series 2023-3, Class B, 5.720% due 1/16/29   1,556,016 
 2,290,000   Series 2023-3, Class C, 5.920% due 2/16/29   2,290,505 
 1,000,000   Goldentree Loan Management US CLO 15 Ltd., Series 2022-15A, Class DR, 9.739% (3-Month TSFR + 4.400%) due 10/20/36(b)(c)   1,002,243 
 1,357,279   GoodLeap Sustainable Home Solutions Trust, Series 2021-5CS, Class C, 3.500% due 10/20/48(c)   984,458 
 785,000   Greystone CRE Notes Ltd., Series 2019-FL2, Class C, 7.437% (1-Month TSFR + 2.114%) due 9/15/37(b)(c)   764,864 
 1,000,000   Halsey Point CLO I Ltd., Series 2019-1A, Class B1, 7.877% (3-Month TSFR + 2.462%) due 1/20/33(b)(c)   1,000,284 
 500,000   Halseypoint CLO 5 Ltd., Series 2021-5A, Class A1A, 6.862% (3-Month TSFR + 1.472%) due 1/30/35(b)(c)   498,028 
 1,235,000   Hertz Vehicle Financing III LLC, Series 2023-3A, Class A, 5.940% due 2/25/28(c)   1,235,461 
     Home Partners of America Trust:     
 1,659,415   Series 2021-1, Class D, 2.477% due 9/17/41(c)   1,363,029 
 758,004   Series 2021-1, Class E, 2.577% due 9/17/41(c)   593,484 
 873,242   Series 2021-1, Class F, 3.325% due 9/17/41(c)   648,802 
 4,305,974   Horizon Aircraft Finance III Ltd., Series 2019-2, Class A, 3.425% due 11/15/39(c)   3,344,002 
 1,950,000   John Deere Owner Trust, Series 2023-B, Class A4, 5.110% due 5/15/30   1,947,885 
 4,019,200   JP Morgan Mortgage Acquisition Corp., Series 2005-WMC1, Class M4, 6.357% (1-Month TSFR + 1.014%) due 9/25/35(b)   3,517,409 
 1,000,000   Katayma CLO I Ltd., Series 2023-1A, Class D, 10.623% (3-Month TSFR + 5.250%) due 10/20/36(b)(c)   999,639 
 1,000,000   LCM XV LP, Series 15A, Class DR, 9.377% (3-Month TSFR + 3.962%) due 7/20/30(b)(c)   953,979 
 1,032,083   Lendingpoint Asset Securitization Trust, Series 2021-A, Class C, 2.750% due 12/15/28(c)   1,015,731 
 1,000,000   Marble Point CLO XXI Ltd., Series 2021-3A, Class A1, 6.904% (3-Month TSFR + 1.502%) due 10/17/34(b)(c)   999,031 
 1,000,000   Marble Point CLO XXII Ltd., Series 2021-2A, Class A, 6.840% (3-Month TSFR + 1.462%) due 7/25/34(b)(c)   987,991 
 326,932   Marlette Funding Trust, Series 2019-4A, Class C, 3.760% due 12/17/29(c)   324,750 
 1,920,000   ME Funding LLC, Series 2019-1, Class A2, 6.448% due 7/30/49(c)   1,883,370 
 7,836,462   Merrill Lynch Mortgage Investors Trust, Series 2006-HE6, Class A1, 5.737% (1-Month TSFR + 0.394%) due 11/25/37(b)   3,703,336 
 1,000,000   MetroNet Infrastructure Issuer LLC, Series 2023-1A, Class A2, 6.560% due 4/20/53(c)   973,309 
     MF1 Ltd.:     
 409,836   Series 2021-FL7, Class A, 6.526% (1-Month TSFR + 1.194%) due 10/16/36(b)(c)   401,383 
 845,000   Series 2022-FL8, Class AS, 7.083% (1-Month TSFR + 1.750%) due 2/19/37(b)(c)   828,739 
 625,992   MKS CLO Ltd., Series 2017-1A, Class AR, 6.677% (3-Month TSFR + 1.262%) due 7/20/30(b)(c)   624,448 
 762,215   MP CLO III Ltd., Series 2013-1A, Class AR, 6.927% (3-Month TSFR + 1.512%) due 10/20/30(b)(c)   760,849 
     Navient Private Education Refi Loan Trust:     
 393,891   Series 2021-EA, Class A, 0.970% due 12/16/69(c)   333,543 
 604,366   Series 2021-FA, Class A, 1.110% due 2/18/70(c)   501,645 
 763,378   Series 2023-A, Class A, 5.510% due 10/15/71(c)   749,870 
 4,000,000   New Century Home Equity Loan Trust, Series 2005-B, Class M2, 6.192% (1-Month TSFR + 0.849%) due 10/25/35(b)   3,245,882 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security  Value 
ASSET-BACKED SECURITIES - 9.8% (continued)     
$1,050,000   New Economy Assets Phase 1 Sponsor LLC, Series 2021-1, Class A1, 1.910% due 10/20/61(c)  $907,286 
 854,687   Northwoods Capital XVI Ltd., Series 2017-16A, Class A, 6.911% (3-Month TSFR + 1.532%) due 11/15/30(b)(c)   854,769 
 925,000   Octagon 61 Ltd., Series 2023-2A, Class B, 7.766% (3-Month TSFR + 2.350%) due 4/20/36(b)(c)   922,235 
 600,000   Octagon Investment Partners 44 Ltd., Series 2019-1A, Class DR, 8.905% (3-Month TSFR + 3.512%) due 10/15/34(b)(c)   565,790 
 500,000   Octagon Investment Partners 51 Ltd., Series 2021-1A, Class A, 6.827% (3-Month TSFR + 1.412%) due 7/20/34(b)(c)   496,253 
 962,500   Octagon Investment Partners XXI Ltd., Series 2014-1A, Class A2R3, 7.039% (3-Month TSFR + 1.662%) due 2/14/31(b)(c)   940,119 
 995,000   OneMain Direct Auto Receivables Trust, Series 2023-1A, Class A, 5.410% due 11/14/29(c)   985,604 
     Pagaya AI Debt Selection Trust:     
 517,838   Series 2021-1, Class B, 2.130% due 11/15/27(c)   513,692 
 1,918,958   Series 2021-3, Class B, 1.740% due 5/15/29(c)   1,892,189 
     Pagaya AI Debt Trust:     
 1,499,802   Series 2022-1, Class B, 3.344% due 10/15/29(c)   1,430,592 
 1,122,249   Series 2023-3, Class A, 7.600% due 12/16/30(c)   1,126,842 
 2,915,000   PFS Financing Corp., Series 2023-C, Class A, 5.520% due 10/15/28(c)   2,909,832 
 1,800,000   PMT Issuer Trust - FMSR, Series 2021-FT1, Class A, 8.458% (1-Month TSFR + 3.115%) due 3/25/26(b)(c)   1,768,326 
 745,000   Prestige Auto Receivables Trust, Series 2022-1A, Class B, 6.550% due 7/17/28(c)   744,991 
 484,482   PRET LLC, Series 2021-NPL3, Class A1, step bond to yield, 1.868% due 7/25/51(c)   454,374 
     Pretium Mortgage Credit Partners I LLC:     
 526,925   Series 2021-NPL2, Class A1, step bond to yield, 1.992% due 6/27/60(c)   496,152 
 950,824   Series 2021-NPL4, Class A1, step bond to yield, 2.363% due 10/27/60(c)   905,028 
     Progress Residential Trust:     
 3,720,000   Series 2021-SFR11, Class B, 2.732% due 1/17/39(c)   3,150,502 
 332,174   Series 2022-SFR3, Class A, 3.200% due 4/17/39(c)   303,227 
 246,686   Series 2022-SFR5, Class A, 4.451% due 6/17/39(c)   234,449 
 1,063,454   Series 2022-SFR6, Class A, 4.451% due 7/20/39(c)   1,008,179 
 548,783   Series 2023-SFR1, Class A, 4.300% due 3/17/40(c)   513,891 
 1,755,271   Race Point IX CLO Ltd., Series 2015-9A, Class A1A2, 6.595% (3-Month TSFR + 1.202%) due 10/15/30(b)(c)   1,748,682 
 500,000   Regatta VI Funding Ltd., Series 2016-1A, Class AR2, 6.837% (3-Month TSFR + 1.422%) due 4/20/34(b)(c)   497,240 
 1,000,000   Regatta XI Funding Ltd., Series 2018-1A, Class B, 7.314% (3-Month TSFR + 1.912%) due 7/17/31(b)(c)   991,053 
 1,405,000   Retained Vantage Data Centers Issuer LLC, Series 2023-1A, Class A2A, 5.000% due 9/15/48(c)   1,290,383 
 1,420,000   RR 23 Ltd., Series 2022-23A, Class A2R, 7.999% (3-Month TSFR + 2.650%) due 10/15/35(b)(c)   1,415,513 
 500,000   Sandstone Peak Ltd., Series 2021-1A, Class A1, 6.875% (3-Month TSFR + 1.482%) due 10/15/34(b)(c)   495,000 
     Santander Drive Auto Receivables Trust:     
 840,000   Series 2022-4, Class B, 4.420% due 11/15/27   822,124 
 185,000   Series 2022-6, Class B, 4.720% due 6/15/27   181,875 
 740,000   Series 2022-7, Class B, 5.950% due 1/17/28   738,138 
 365,000   Series 2023-1, Class B, 4.980% due 2/15/28   360,175 
 635,000   Series 2023-3, Class B, 5.610% due 7/17/28   631,549 
 520,000   SFS Auto Receivables Securitization Trust, Series 2023-1A, Class A4, 5.470% due 12/20/29(c)   519,123 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security  Value 
ASSET-BACKED SECURITIES - 9.8% (continued)     
$500,000   Shackleton 2013-III CLO Ltd., Series 2013-3A, Class DR, 8.675% (3-Month TSFR + 3.282%) due 7/15/30(b)(c)  $476,205 
 3,561   SoFi Consumer Loan Program Trust, Series 2021-1, Class A, 0.490% due 9/25/30(c)   3,547 
 1,000,000   Sofi Professional Loan Program Trust, Series 2018-B, Class BFX, 3.830% due 8/25/47(c)   902,430 
 1,710,000   Sound Point CLO XXIX Ltd., Series 2021-1A, Class A, 6.710% (3-Month TSFR + 1.332%) due 4/25/34(b)(c)   1,684,431 
 500,000   Sound Point CLO XXVII Ltd., Series 2020-2A, Class AR, 6.820% (3-Month TSFR + 1.442%) due 10/25/34(b)(c)   495,000 
 915,000   Stack Infrastructure Issuer LLC, Series 2023-2A, Class A2, 5.900% due 7/25/48(c)   886,600 
 3,500,000   STAR Trust, Series 2021-SFR1, Class G, 8.637% (1-Month TSFR + 3.314%) due 4/17/38(b)(c)   3,297,435 
 8,700,000   Structured Asset Investment Loan Trust, Series 2006-4, Class A5, 5.767% (1-Month TSFR + 0.424%) due 7/25/36(b)   2,782,998 
 801,056   Sunnova Helios V Issuer LLC, Series 2021-A, Class A, 1.800% due 2/20/48(c)   684,077 
 1,792,944   Sunrun Demeter Issuer LLC, Series 2021-2A, Class A, 2.270% due 1/30/57(c)   1,480,309 
 5,430,000   Synchrony Card Funding LLC, Series 2023-A2, Class A, 5.740% due 10/15/29   5,494,381 
 500,000   Tesla Auto Lease Trust, Series 2021-B, Class B, 0.910% due 9/22/25(c)   484,733 
 735,000   Texas Natural Gas Securitization Finance Corp., Series , Class , 5.102% due 4/1/35   734,298 
 189,601   Tricolor Auto Securitization Trust, Series 2023-1A, Class A, 6.480% due 8/17/26(c)   189,218 
 379,649   Tricon Residential Trust, Series 2023-SFR1, Class A, 5.100% due 7/17/40(c)   367,680 
 408,382   TRTX Issuer Ltd., Series 2021-FL4, Class A, 6.644% (1-Month TSFR + 1.314%) due 3/15/38(b)(c)   399,704 
     Upstart Pass-Through Trust:     
 308,455   Series 2021-ST3, Class A, 2.000% due 5/20/27(c)   296,698 
 390,706   Series 2021-ST4, Class A, 2.000% due 7/20/27(c)   376,291 
     Upstart Securitization Trust:     
 93,301   Series 2019-3, Class C, 5.381% due 1/21/30(c)   93,197 
 445,815   Series 2020-1, Class C, 4.899% due 4/22/30(c)   442,518 
 44,304   Series 2021-4, Class A, 0.840% due 9/20/31(c)   44,078 
 1,000,000   Valley Stream Park CLO LTD, Series 2022-1A, Class DR, 9.566% (3-Month TSFR + 4.150%) due 10/20/34(b)(c)   995,186 
 957,500   Vantage Data Centers Issuer LLC, Series 2019-1A, Class A2, 3.188% due 7/15/44(c)   935,960 
 1,157,329   VCAT LLC, Series 2021-NPL6, Class A1, step bond to yield, 1.917% due 9/25/51(c)   1,096,307 
 1,710,000   Venture 42 CLO Ltd., Series 2021-42A, Class A1A, 6.785% (3-Month TSFR + 1.392%) due 4/15/34(b)(c)   1,686,402 
 908,362   Vericrest Opportunity Loan Transferee, Series 2021-NP11, Class A1, step bond to yield, 1.868% due 8/25/51(c)   849,352 
 3,315,000   Verizon Master Trust, Series 2023-2, Class C, 5.380% due 4/13/28   3,285,792 
 593,440   VOLT CIII LLC, Series 2021-CF1, Class A1, step bond to yield, 1.992% due 8/25/51(c)(d)   552,512 
 614,070   VOLT XCIX LLC, Series 2021-NPL8, Class A1, step bond to yield, 2.116% due 4/25/51(c)   578,044 
 361,331   VOLT XCV LLC, Series 2021-NPL4, Class A1, step bond to yield, 2.240% due 3/27/51(c)   349,919 
     Wellfleet CLO X Ltd.:     
 1,333,295   Series 2019-XA, Class A1R, 6.847% (3-Month TSFR + 1.432%) due 7/20/32(b)(c)   1,312,685 
 1,000,000   Series 2019-XA, Class A2R, 7.427% (3-Month TSFR + 2.012%) due 7/20/32(b)(c)   984,582 
     Westlake Automobile Receivables Trust:     
 200,000   Series 2023-1A, Class B, 5.410% due 1/18/28(c)   198,060 
 895,000   Series 2023-2A, Class B, 6.140% due 3/15/28(c)   893,693 
 985,000   Wingstop Funding LLC, Series 2020-1A, Class A2, 2.841% due 12/5/50(c)   868,174 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security  Value 
ASSET-BACKED SECURITIES - 9.8% (continued)     
$330,000   World Omni Auto Receivables Trust, Series 2023-A, Class B, 5.030% due 5/15/29  $324,673 
     TOTAL ASSET-BACKED SECURITIES     
     (Cost - $214,732,642)   199,307,975 
SENIOR LOANS(b) - 0.8%     
 72,000   AAdvantage Loyality IP Ltd., 10.427% (3-Month USD-LIBOR + 0.475%) due 4/20/28   72,990 
 25,000   Access CIG LLC, 10.388% (3-Month USD-LIBOR + 0.500%) due 8/18/28   24,948 
     Acrisure LLC:     
 109,716   9.150% (3-Month USD-LIBOR + 0.350%) due 2/15/27   108,642 
 221,063   9.900% (3-Month USD-LIBOR + 0.425%) due 2/15/27   220,417 
 40,625   Acuris Finance U.S. Inc., 9.540% (3-Month USD-LIBOR + 0.400%) due 2/16/28   40,236 
 89,771   ADMI Corp. due 12/23/27(k)   82,851 
 162,938   Air Canada, 9.139% (3-Month USD-LIBOR + 0.350%) due 8/11/28   162,618 
 107,250   AlixPartners LLP, 8.213% (1-Month USD-LIBOR + 0.275%) due 2/4/28   107,337 
 79,400   Alliant Holdings Intermediate LLC, 8.831% (1-Month USD-LIBOR + 0.350%) due 11/5/27   79,450 
 49,000   Allied Universal Holdco LLC, 9.198% (1-Month USD-LIBOR + 0.375%) due 5/12/28   47,693 
 61,165   Allspring Buyer LLC, 8.949% (3-Month USD-LIBOR + 0.325%) due 11/1/28   60,193 
 39,800   Altice France SA, 10.894% (3-Month USD-LIBOR + 0.550%) due 8/15/28   33,905 
 465,000   American Airlines Inc. due 5/17/29(k)   461,805 
 297,727   Ascend Learning LLC, 8.948% (1-Month USD-LIBOR + 0.350%) due 12/11/28   290,573 
 240,383   Astra Acquisition Corp., 10.902% (3-Month USD-LIBOR + 0.525%) due 10/25/28   158,266 
 20,000   Asurion LLC, 10.713% (1-Month USD-LIBOR + 0.525%) due 1/31/28   17,907 
 137,346   athenahealth Group Inc., 8.598% (1-Month USD-LIBOR + 0.325%) due 2/15/29   134,676 
 268,062   Aveanna Healthcare LLC, 9.238% (3-Month USD-LIBOR + 0.375%) due 7/17/28   245,612 
 330,259   Bausch + Lomb Corp., 8.755% (3-Month USD-LIBOR + 0.325%) due 5/10/27   319,773 
 151,861   Boxer Parent Co., Inc., 9.213% (1-Month USD-LIBOR + 0.375%) due 10/2/25   151,807 
 250,000   Buckeye Partners LP due 11/22/30(k)   249,938 
 139,300   Caesars Entertainment Inc., 8.698% (1-Month USD-LIBOR + 0.325%) due 2/6/30   139,261 
 14,400   Calpine Corp., 7.463% (1-Month USD-LIBOR + 0.200%) due 8/12/26   14,399 
 298,819   Carnival Corp., 8.713% (1-Month USD-LIBOR + 0.325%) due 10/18/28   296,951 
 150,092   Cengage Learning Inc., 10.405% (3-Month USD-LIBOR + 0.475%) due 7/14/26   149,849 
 80,000   Central Parent LLC, 9.406% (3-Month USD-LIBOR + 0.400%) due 7/6/29   80,014 
 121,563   Charter Next Generation Inc., 9.213% (1-Month USD-LIBOR + 0.375%) due 12/1/27   121,006 
 144,264   CHG Healthcare Services Inc., 8.713% (1-Month USD-LIBOR + 0.325%) due 9/29/28   143,706 
 325,000   Clarios Global LP, 9.098% (1-Month USD-LIBOR + 0.375%) due 5/6/30   325,244 
 8,384   Columbus McKinnon Corp., 8.422% (3-Month USD-LIBOR + 0.275%) due 5/14/28   8,374 
 62,725   Connect Finco SARL, 8.848% (1-Month USD-LIBOR + 0.350%) due 12/11/26   62,558 
 78,295   Constellation Renewables LLC, 8.150% (3-Month USD-LIBOR + 0.250%) due 12/15/27   78,056 
 102,532   Cornerstone OnDemand Inc., 9.213% (1-Month USD-LIBOR + 0.375%) due 10/16/28   98,636 
 59,845   CSC Holdings LLC, 7.937% (1-Month USD-LIBOR + 0.250%) due 4/15/27   55,927 
 99,338   Cyxtera DC Holdings Inc., 10.500% (3-Month USD-LIBOR + 0.200%) due 5/1/24   61,128 
 117,690   DCert Buyer Inc., 9.348% (1-Month USD-LIBOR + 0.400%) due 10/16/26   116,179 
 15,000   DG Investment Intermediate Holdings 2 Inc., 12.213% (1-Month USD-LIBOR + 0.675%) due 3/30/29   13,444 
 77,889   DIRECTV Financing LLC, 10.645% (1-Month USD-LIBOR + 0.500%) due 8/2/27   76,532 
     Dynasty Acquisition Co., Inc.:     
 244,388   9.348%  (1-Month USD-LIBOR + 0.400%) due 8/24/28   243,991 
 185,524   EAB Global Inc., 8.963% (1-Month USD-LIBOR + 0.350%) due 8/16/28   184,404 
 24,375   Ecovyst Catalyst Technologies LLC, 7.983% (3-Month USD-LIBOR + 0.250%) due 6/9/28   24,292 
 19,728   EG Group Ltd., 9.444% (1-Month USD-LIBOR + 0.400%) due 3/31/26   19,646 
 326,297   Fertitta Entertainment LLC, 9.348% (1-Month USD-LIBOR + 0.400%) due 1/27/29   323,729 
 20,946   Flame NewCo LLC, 11.448% (1-Month USD-LIBOR + 0.600%) due 6/30/28   19,323 
 341,993   Gainwell Acquisition Corp., 9.490% (3-Month USD-LIBOR + 0.400%) due 10/1/27   329,168 
 155,000   Garda World Security Corp., 9.746% (3-Month USD-LIBOR + 0.425%) due 10/30/26   154,506 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security  Value 
SENIOR LOANS(b) - 0.8% (continued)     
$77,258   Getty Images Inc., 9.990% (3-Month USD-LIBOR + 0.450%) due 2/19/26  $77,451 
 33,036   Grab Holdings Inc., 9.963% (1-Month USD-LIBOR + 0.450%) due 1/29/26   33,127 
 127,687   Graham Packaging Co., Inc., 8.463% (1-Month USD-LIBOR + 0.300%) due 8/4/27   127,307 
 106,991   Great Outdoors Group LLC, 9.402% (3-Month USD-LIBOR + 0.375%) due 3/6/28   105,979 
 24,231   Greystone Select Financial LLC, 10.658% (3-Month USD-LIBOR + 0.500%) due 6/16/28   23,867 
 155,000   Grifols Worldwide Operations Ltd., 7.538% (1-Month USD-LIBOR + 0.200%) due 11/15/27   153,019 
 240,000   GTCR W Merger Sub LLC due 9/20/30(k)   239,700 
 45,661   H-Food Holdings LLC, 9.337% (3-Month USD-LIBOR + 0.369%) due 5/23/25   35,463 
 235,934   Hunter Douglas Holding BV, 8.880% (3-Month USD-LIBOR + 0.350%) due 2/26/29(d)   227,549 
 97,405   Husky Injection Molding Systems Ltd., 8.731% (3-Month USD-LIBOR + 0.300%) due 3/28/25   96,455 
 95,551   iHeartCommunications Inc., 8.463% (1-Month USD-LIBOR + 0.300%) due 5/1/26   79,467 
 163,474   ION Trading Finance Ltd., 10.240% (3-Month USD-LIBOR + 0.475%) due 4/1/28   162,160 
 137,235   IRB Holding Corp., 8.448% (1-Month USD-LIBOR + 0.300%) due 12/15/27   136,958 
 326,006   Jazz Pharmaceuticals PLC, 8.963% (1-Month USD-LIBOR + 0.350%) due 5/5/28   326,459 
 77,701   Kronos Acquisition Holdings Inc., 9.402% (3-Month USD-LIBOR + 0.375%) due 12/22/26   76,895 
 330,000   LifePoint Health Inc., 11.168% (3-Month USD-LIBOR + 0.550%) due 11/16/28   315,252 
 33,489   Lions Gate Capital Holdings LLC, 7.698% (1-Month USD-LIBOR + 0.225%) due 3/24/25   33,413 
 328,742   Lummus Technology Holdings V LLC, 8.963% (1-Month USD-LIBOR + 0.350%) due 6/30/27   327,920 
 35,632   Maravai Intermediate Holdings LLC, 8.397% (3-Month USD-LIBOR + 0.300%) due 10/19/27   33,984 
 326,625   Mavis Tire Express Services Topco Corp., 9.463% (1-Month USD-LIBOR + 0.400%) due 5/4/28   325,606 
 83,293   McAfee Corp., 9.170% (1-Month USD-LIBOR + 0.375%) due 3/1/29   82,088 
 328,791   Medline Borrower LP, 8.463% (1-Month USD-LIBOR + 0.300%) due 10/23/28   328,748 
 82,500   Mileage Plus Holdings LLC, 10.798% (3-Month USD-LIBOR + 0.525%) due 6/21/27   84,944 
 19,184   NASCAR Holdings LLC, 7.963% (1-Month USD-LIBOR + 0.250%) due 10/19/26   19,224 
 146,160   Olympus Water US Holding Corp., 9.402% (3-Month USD-LIBOR + 0.375%) due 11/9/28   145,003 
 297,594   OneDigital Borrower LLC, 9.698% (1-Month USD-LIBOR + 0.425%) due 11/16/27   296,106 
 80,000   Ontario Gaming GTA LP due 8/1/30(k)   80,150 
 329,167   Osmosis Buyer Ltd., 9.071% (1-Month USD-LIBOR + 0.375%) due 7/31/28   322,830 
 53,451   Packaging Coordinators Midco Inc., 9.152% (3-Month USD-LIBOR + 0.350%) due 11/30/27   53,236 
 44,497   PCI Gaming Authority, 7.963% (1-Month USD-LIBOR + 0.250%) due 5/29/26   44,467 
 114,346   Peraton Corp., 9.198% (1-Month USD-LIBOR + 0.375%) due 2/1/28   113,550 
 109,446   Perrigo Co. PLC, 7.698% (1-Month USD-LIBOR + 0.225%) due 4/20/29   109,035 
 73,313   PetSmart LLC, 9.198% (1-Month USD-LIBOR + 0.375%) due 2/11/28   72,121 
 125,775   PG&E Corp., 8.463% (1-Month USD-LIBOR + 0.300%) due 6/23/25   125,716 
 108,900   PMHC II Inc., 9.807% (3-Month USD-LIBOR + 0.425%) due 4/23/29   97,296 
 84,063   Polaris Newco LLC, 9.463% (1-Month USD-LIBOR + 0.400%) due 6/2/28   81,709 
 74,932   Pregis TopCo LLC, 9.098% (1-Month USD-LIBOR + 0.375%) due 7/31/26   74,620 
     Pretium PKG Holdings Inc.:     
 179,326   9.995% (3-Month USD-LIBOR + 0.460%) due 10/2/28   139,157 
 48,135   10.395% (3-Month USD-LIBOR + 0.500%) due 10/2/28   46,980 
 299,470   Proofpoint Inc., 8.713% (1-Month USD-LIBOR + 0.325%) due 8/31/28   297,053 
 170,319   Pug LLC, 8.963% (1-Month USD-LIBOR + 0.350%) due 2/12/27   164,678 
 116,560   Radiate Holdco LLC, 8.713% (1-Month USD-LIBOR + 0.325%) due 9/25/26   89,190 
 329,160   RealPage Inc., 8.463% (1-Month USD-LIBOR + 0.300%) due 4/24/28   320,727 
 9,211   RentPath Inc., 3.750% due 12/31/25(d)   92 
 149,118   Scientific Games Holdings LP, 8.914% (3-Month USD-LIBOR + 0.350%) due 4/4/29   148,253 
 219,450   Select Medical Corp., 8.348% (1-Month USD-LIBOR + 0.300%) due 3/6/27   219,244 
 72,000   SkyMiles IP Ltd., 9.166% (3-Month USD-LIBOR + 0.375%) due 10/20/27   73,503 
 19,250   SMG US Midco 2 Inc., 8.145% (3-Month USD-LIBOR + 0.250%) due 1/23/25   19,240 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security  Value 
SENIOR LOANS(b) - 0.8% (continued)     
$ 329,160   Sophia LP, 8.948% (1-Month USD-LIBOR + 0.350%) due 10/7/27  $329,262 
  300,000   Sotera Health Holdings LLC, 8.395% (3-Month USD-LIBOR + 0.275%) due 12/11/26   298,050 
  37,784   Spin Holdco Inc., 9.664% (3-Month USD-LIBOR + 0.400%) due 3/4/28   32,690 
  298,136   SRS Distribution Inc., 8.963% (1-Month USD-LIBOR + 0.350%) due 6/2/28   293,989 
  48,645   Staples Inc., 10.435% (1-Month USD-LIBOR + 0.500%) due 4/16/26   44,355 
  33,784   Sunshine Luxembourg VII SARL, 8.990% (3-Month USD-LIBOR + 0.350%) due 10/1/26   33,882 
  127,379   SWF Holdings I Corp., 9.463% (1-Month USD-LIBOR + 0.400%) due 10/6/28   108,431 
  48,875   Tecta America Corp., 9.463% (1-Month USD-LIBOR + 0.400%) due 4/10/28   48,852 
  152,293   Tempo Acquisition LLC, 8.098% (1-Month USD-LIBOR + 0.275%) due 8/31/28   152,365 
  164,175   TransDigm Inc., 8.640% (3-Month USD-LIBOR + 0.325%) due 8/24/28   164,211 
  43,563   Tricorbraun Holdings Inc., 8.713% (1-Month USD-LIBOR + 0.325%) due 3/3/28   42,548 
  131,963   Triton Water Holdings Inc., 8.902% (3-Month USD-LIBOR + 0.325%) due 3/31/28   129,653 
  351,665   UKG Inc., 8.764% (3-Month USD-LIBOR + 0.325%) due 5/4/26   351,665 
  30,789   Ultra Clean Holdings Inc., 9.213% (1-Month USD-LIBOR + 0.375%) due 8/27/25   30,799 
  97,681   United AirLines Inc., 9.207% (1-Month USD-LIBOR + 0.375%) due 4/21/28   97,570 
  37,094   Upbound Group Inc., 8.952% (6-Month USD-LIBOR + 0.325%) due 2/17/28   36,954 
  156,800   US Foods Inc., 7.463% (1-Month USD-LIBOR + 0.200%) due 9/13/26   156,794 
  4,887   Verscend Holding Corp., 9.463% (1-Month USD-LIBOR + 0.400%) due 8/27/25   4,886 
  320,000   Virgin Media Bristol LLC, 8.790% (6-Month USD-LIBOR + 0.325%) due 3/31/31   315,251 
  38,886   WaterBridge Midstream Operating LLC, 11.390% (3-Month USD-LIBOR + 0.575%) due 6/22/26   38,886 
  107,157   WestJet Airlines Ltd., 8.443% (1-Month USD-LIBOR + 0.300%) due 12/11/26   105,048 
  80,000   Zayo Group Holdings Inc., 8.463% (1-Month USD-LIBOR + 0.300%) due 3/9/27   68,192 
  20,000   Ziggo Financing Partnership, 7.937% (1-Month USD-LIBOR + 0.250%) due 4/30/28   19,605 
      TOTAL SENIOR LOANS     
      (Cost - $15,992,264)   15,702,889 
SOVEREIGN BONDS - 0.3% 
Bermuda - 0.1% 
      Bermuda Government International Bond:     
  890,000   2.375% due 8/20/30   726,952 
  800,000   5.000% due 7/15/32   756,800 
      Total Bermuda   1,483,752 
Chile - 0.0%     
  200,000   Chile Government International Bond, 3.100% due 1/22/61   122,349 
Colombia - 0.0%     
  600,000   Colombia Government International Bond, 4.125% due 5/15/51   360,141 
Hungary - 0.1%     
      Hungary Government International Bond:     
  560,000   6.125% due 5/22/28(c)   568,905 
  595,000   5.250% due 6/16/29(c)   580,980 
      Total Hungary   1,149,885 
Mexico - 0.0%     
  579,000   Mexico Government International Bond, 6.338% due 5/4/53   552,380 
Panama - 0.0%     
      Panama Government International Bond:     
  200,000   6.875% due 1/31/36   190,472 
  200,000   4.500% due 4/1/56   126,068 
  300,000   3.870% due 7/23/60   168,283 
      Total Panama   484,823 
Peru - 0.0%     
  200,000   Corp. Financiera de Desarrollo SA, 5.250% due 7/15/29(b)   195,366 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Face
Amount/Units		   Security  Value 
Romania - 0.1% 
     Romanian Government International Bond:     
$636,000   3.000% due 2/27/27(c)  $581,584 
 1,228,000   3.000% due 2/14/31   996,178 
     Total Romania   1,577,762 
Saudi Arabia - 0.0%     
 630,000   Saudi Government International Bond, 5.000% due 1/18/53(c)   539,308 
South Africa - 0.0%     
 200,000   Republic of South Africa Government International Bond, 4.300% due 10/12/28   179,708 
     TOTAL SOVEREIGN BONDS     
     (Cost - $7,689,016)   6,645,474 

 

   Rating††      
MUNICIPAL BONDS - 0.1% 
California - 0.0% 
 20,000  AA- Regents of the University of California Medical Center Pooled Revenue, Revenue Bonds, 6.548% due 5/15/48   21,942 
 360,000  AA- State of California, GO, 7.300% due 10/1/39   414,453 
      Total California   436,395 
Massachusetts - 0.0%     
 546,203  Aa1(l) Commonwealth of Massachusetts, Revenue Bonds, 4.110% due 7/15/31   532,255 
New York - 0.1%     
 680,000  A- Metropolitan Transportation Authority, Revenue Bonds, 6.814% due 11/15/40   725,709 
 200,000  A   New York State Thruway Authority, Revenue Bonds, 2.900% due 1/1/35   167,230 
 810,000  A+ New York Transportation Development Corp., Revenue Bonds, 4.248% due 9/1/35   774,640 
      Total New York   1,667,579 
Texas - 0.0%     
 305,000  A+ Dallas Fort Worth International Airport, Revenue Bonds, 4.507% due 11/1/51   263,210 
      TOTAL MUNICIPAL BONDS     
      (Cost - $3,458,302)   2,899,439 

 

Shares/Units         
          
OPEN-END FUND - 1.9%     
 414,106   iShares 20+ Year Treasury Bond     
     (Cost - $40,716,845)   37,915,545 
EXCHANGE TRADED FUND (ETF) - 0.4%     
 84,095   iShares Core U.S. Aggregate Bond     
     (Cost - $8,001,639)   8,094,985 
COMMON STOCKS - 0.0%     
COMMUNICATIONS - 0.0%     
Telecommunications - 0.0%     
 1,030   Intelsat SA*(d)   27,037 
HEALTHCARE SERVICES - 0.0%     
Healthcare Equipment & Services - 0.0%     
 544   Envision Healthcare Corp.*(d)   5,168 
INDUSTRIAL - 0.0%     
Metals & Mining - 0.0%     
 1,907   Flame Aggregator LLC*(d)(m)   10,450 
     Total Metals & Mining   10,450 
     TOTAL INDUSTRIAL   10,450 
     TOTAL COMMON STOCKS     
     (Cost - $89,864)   42,655 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Shares/Units   Security  Value 
RIGHTS - 0.0% 
$        214   Intelsat Jackson Holdings SA*(d)  $1,605 
     TOTAL RIGHTS     
     (Cost - $0)   1,605 
     TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS     
     (Cost - $2,318,092,003)   2,083,498,548 

 

Face
Amount†		         
          
SHORT-TERM INVESTMENTS - 1.9%     
TIME DEPOSITS - 1.9%     
$7 EUR   Citibank - London, 2.810% due 12/1/23  $8 
 19,873,263   Citibank - New York, 4.680% due 12/1/23   19,873,263 
 11,110,327   JPMorgan Chase & Co. - New York, 4.680% due 12/1/23   11,110,327 
 7,085,667   Royal Bank of Canada - Toronto, 4.680% due 12/1/23   7,085,667 
     TOTAL TIME DEPOSITS     
     (Cost - $38,069,265)   38,069,265 

U.S. GOVERNMENT OBLIGATION - 0.0%     
 1,200,000   U.S. Treasury Bills, 5.196% due 12/28/23(n)     
     (Cost - $1,195,406)   1,195,406 
     TOTAL SHORT-TERM INVESTMENTS     
     (Cost - $39,264,671)   39,264,671 
     TOTAL INVESTMENTS - 104.2%     
     (Cost - $2,357,356,674)   2,122,763,219 
     Liabilities in Excess of Other Assets - (4.2)%   (86,165,933)
     TOTAL NET ASSETS - 100.0%  $2,036,597,286 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

 

† Face amount denominated in U.S. dollars, unless otherwise noted.
†† All ratings are by Standard & Poor's Rating Service, unless otherwise noted.
* Non-income producing security.
(a) This security is traded on a TBA basis.
(b) Variable rate security. Interest rate disclosed is that which was in effect at November 30, 2023.
(c) 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 November 30, 2023, amounts to $433,367,711 and represents 21.28% of net assets.  
(d) Illiquid security. The aggregate value of illiquid holdings at November 30, 2023, amounts to $2,681,499 and represents 0.13% of net assets.
(e) Security is currently in default.
(f) Security is perpetual in nature and has no stated maturity date.
(g) Payment in-kind security for which part of the income earned may be paid as additional principal.
(h) When-Issued or delayed delivery security.
(i) Interest only security.
(j) Principal only security.
(k) This position represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate.
(l) Rating by Moody's Investors Service. All ratings are unaudited.
(m) Security is valued in good faith at fair value by or under the direction of the Board of Trustees using significant unobservable inputs.
(n) Rate shown represents yield-to-maturity.
@ Restricted security – Investment in security not registered under the Securities Act of 1933. The investment is deemed to not be liquid and maybe sold only to qualified buyers.

 

Security 

First
Acquisition

Date

 

First
Acquisition

Cost

  

Market

Value

  

Percent
of

Net
Assets

 
Plains All American Pipeline LP/PAA Finance Corp., Senior Unsecured Notes, 3.550%, due 12/15/29  3/24/2022  $134,858   $124,910    0.00%
Transcontinental Gas Pipe Line Co. LLC, Senior Unsecured Notes, 3.250% due 5/15/30  3/17/2022   220,781    136,798    0.00%
Total          $261,708    0.00%

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

Abbreviations used in this schedule:

CBT — Chicago Board of Trade
CLO — Collateralized Loan Obligation
CMT — Constant Maturity Treasury Index
GO — General Obligation
LIBOR — London Interbank Offered Rate
LLC — Limited Liability Company
LP — Limited Partnership
PLC — Public Limited Company
REMICS — Real Estate Mortgage Investment Conduit
SARL — Société à Responsabilité Limitée
SOFR — Secured Overnight Financing Rate
TSFR — CME Term SOFR Reference Rate

 

Summary of Investments by Security Type^     
Mortgage-Backed Securities   24.4%
Corporate Bonds & Notes   21.7 
Collateralized Mortgage Obligations   21.5 
U.S. Government Obligations   17.8 
Asset-Backed Securities   9.4 
Open-End Fund   1.8 
Senior Loans   0.7 
Exchange Traded Fund (ETF)   0.4 
Sovereign Bonds   0.3 
Municipal Bonds   0.1 
Common Stocks   0.0*
Rights   0.0*
Short-Term Investments   1.9 
    100.0%

 

 

^As a percentage of total investments.
*Positions represent less than 0.05%.

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

At November 30, 2023, Destinations Core Fixed Income Fund had open exchange traded futures contracts as described below.

 

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

 

Open Futures Contracts  Number of
Contracts		  Expiration
Date
(Month/Year)		  Notional
Amounts		   Market Value  

Unrealized

Appreciation/
(Depreciation)

 
Contracts to Buy:                     
U.S. 10Year Note (CBT)   536  3/24  $58,581,344   $58,851,124   $269,780 
U.S. 2Year Note (CBT)   416  3/24   84,753,724    85,055,750    302,026 
                    571,806 
Contracts to Sell:                     
U.S. 10Year Ultra  374  3/24  $(42,154,875)  $42,454,844   $(299,969)
U.S. 5Year Note (CBT)  21  3/24   (2,227,463)   2,243,883    (16,420)
U.S. Long Bond (CBT)  48  3/24   (5,535,984)   5,588,999    (53,015)
U.S. Ultra Bond (CBT)  105  3/24   (12,671,031)   12,915,000    (243,969)
                    (613,373)
Net Unrealized Depreciation on Open Exchange Traded Futures Contracts               $(41,567)

 

At November 30, 2023, Destinations Core Fixed Income Fund had deposited cash of $ 117,359 with a broker or brokers as margin collateral on open exchange traded futures contracts.

 

At November 30, 2023, Destinations Core Fixed Income Fund held the following Centrally Cleared Interest Rate Swap Contracts:

 

Pay/Receive Floating Rate 

Floating

Rate

Index

 

Fixed

Rate

  Maturity
Date		  Notional
Amounts		  Market
Value		   Upfront
Premiums
Paid/
(Received)		   Unrealized
Appreciation		 
Receive  1D SOFR  3.590%  9/20/53  USD 2,765,000  $129,156   $11,920   $117,236 
Receive  1D SOFR  3.250%  6/21/53  USD 960,000   107,622    (10,562)   118,184 
Receive  1D SOFR  2.880%  3/15/53  USD 990,000   181,717    11,594    170,123 
Receive  1D SOFR  2.970%  3/15/53  USD 3,065,000   512,915    9,928    502,987 
                 $931,410   $22,880   $908,530 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (continued)

 

At November 30, 2023, Destinations Core Fixed Income Fund held the following Centrally Cleared Credit Default Swap Contracts:

 

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

 

Reference Obligation  Fixed
Deal
Receive
Rate		  Maturity
Date		  Payment
Frequency(2)		  Counterparty  Implied Credit
Spread
at 11/30/23(2)		  Notional
Amounts(3)		  Market
Value		  

Upfront
Premiums
Paid/

(Received)

   Unrealized
Appreciation		  
CDX.NA.IG.41  1.000%  12/20/28  3-Month  JPM  0.629%  USD 11,145,000   $207,220   $141,385   $ 65,835  
                        $207,220   $141,385   $ 65,835  

 

At November 30, 2023, Destinations Core Fixed Income Fund had deposited cash of $ 1,042,515 with a broker or brokers as margin collateral on open centrally cleared swap contracts.

 

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

 

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

 

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

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Core Fixed Income Fund (concluded)

Schedule of Forward Sale Commitments  

 

Face
Amounts		   Security  Value 
     Federal National Mortgage Association:     
$400,000   2.000% due 12/1/38(a) (Proceeds — $347,312)  $(349,297)
 725,000   3.000% due 12/1/38(a) (Proceeds — $663,918)   (667,906)
 221,000   4.500% due 12/1/38(a) (Proceeds — $212,523)   (215,490)
 4,436,000   2.500% due 12/1/53(a) (Proceeds — $3,524,158)   (3,591,081)
 4,440,000   3.000% due 12/1/53(a) (Proceeds — $3,660,659)   (3,741,800)
 1,752,000   3.500% due 12/1/53(a) (Proceeds — $1,526,225)   (1,536,107)
 1,435,000   4.000% due 12/1/53(a) (Proceeds — $1,293,653)   (1,302,683)
 12,540,000   5.000% due 12/1/53(a) (Proceeds — $11,942,703)   (12,066,770)
     Government National Mortgage Association:     
 1,355,000   3.000% due 12/1/53(a) (Proceeds — $1,149,368)   (1,171,987)
     TOTAL OPEN FORWARD SALE COMMITMENTS     
     (Proceeds — $24,320,519)  $(24,643,121)

 

 

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

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Low Duration Fixed Income Fund

  

Face
Amount/Units†		   Security  Value 
CORPORATE BONDS & NOTES - 48.8% 
Basic Materials - 3.8%       
$200,000   AngloGold Ashanti Holdings PLC, Company Guaranteed Notes, 3.375% due 11/1/28  $174,372 
 200,000   Braskem Netherlands Finance BV, Company Guaranteed Notes, 8.500% (5-Year CMT Index + 8.220%) due 1/23/81(a)   197,010 
 200,000   Freeport Indonesia PT, Senior Unsecured Notes, 4.763% due 4/14/27(b)   194,292 
 250,000   Freeport-McMoRan Inc., Company Guaranteed Notes, 4.125% due 3/1/28   234,255 
     Glencore Funding LLC, Company Guaranteed Notes:     
 15,000   4.125% due 3/12/24(b)   14,926 
 60,000   4.000% due 4/16/25(b)   58,570 
 155,000   1.625% due 9/1/25(b)   144,574 
 200,000   Indonesia Asahan Aluminium PT/Mineral Industri Indonesia Persero PT, Senior Unsecured Notes, 4.750% due 5/15/25   196,000 
 200,000   Industrias Penoles SAB de CV, Senior Unsecured Notes, 4.150% due 9/12/29   182,239 
 3,497,000   Infrabuild Australia Pty Ltd., Senior Secured Notes, 14.500% due 11/15/28(b)   3,523,577 
 200,000   MEGlobal Canada ULC, Company Guaranteed Notes, 5.000% due 5/18/25   196,020 
 200,000   Sasol Financing USA LLC, Company Guaranteed Notes, 4.375% due 9/18/26   181,705 
 5,779,224   TPC Group Inc., Senior Secured Notes, 13.000% due 12/16/27(b)   5,849,426 
 4,250,000   Valvoline Inc., Company Guaranteed Notes, 4.250% due 2/15/30(b)   4,198,920 
     Total Basic Materials   15,345,886 
Communications - 12.0%       
 8,956,000   AMC Networks Inc., Company Guaranteed Notes, 5.000% due 4/1/24   8,947,031 
 8,600,000   BuzzFeed Inc., Company Guaranteed Notes, 8.500% due 12/3/26(b)   6,192,000 
     Charter Communications Operating LLC/Charter Communications Operating Capital, Senior Secured Notes:     
 3,832,000   4.500% due 2/1/24   3,820,642 
 401,000   7.289% (3-Month TSFR + 1.912%) due 2/1/24(a)   401,347 
 7,382,000   Clear Channel International BV, Senior Secured Notes, 6.625% due 8/1/25(b)   7,267,337 
 2,548,000   Connect Finco SARL/Connect US Finco LLC, Senior Secured Notes, 6.750% due 10/1/26(b)   2,445,716 
 195,000   Expedia Group Inc., Company Guaranteed Notes, 6.250% due 5/1/25(b)   195,872 
 2,592,000   Getty Images Inc., Company Guaranteed Notes, 9.750% due 3/1/27(b)   2,595,113 
 180,000   Millicom International Cellular SA, Senior Unsecured Notes, 5.125% due 1/15/28   162,568 
 6,342,000EUR  Opnet SpA, Senior Secured Notes, 9.848% (3-Month EURIBOR + 6.250%) due 2/9/26(a)(b)(c)   6,903,901 
 1,797,000   Sprint LLC, Company Guaranteed Notes, 7.125% due 6/15/24   1,805,441 
 4,821,000   TEGNA Inc., Company Guaranteed Notes, 4.750% due 3/15/26(b)   4,641,032 
 200,000   Telefonica Celular del Paraguay SA, Senior Unsecured Notes, 5.875% due 4/15/27   190,000 
 3,242,000   Uber Technologies Inc., Company Guaranteed Notes, 7.500% due 5/15/25(b)   3,302,788 
     Total Communications   48,870,788 
Consumer Cyclical - 3.8%       
 1,739,000   American Greetings Corp., Company Guaranteed Notes, 8.750% due 4/15/25(b)   1,721,610 
 1,798,000EUR  DEAG Deutsche Entertainment AG, Senior Unsecured Notes, 8.000% due 7/12/26   2,009,954 
 220,000   Dollar Tree Inc., Senior Unsecured Notes, 4.000% due 5/15/25   214,207 
 225,000   Ford Motor Co., Senior Unsecured Notes, 4.346% due 12/8/26   212,946 
 215,000   General Motors Financial Co., Inc., Company Guaranteed Notes, 5.250% due 3/1/26   212,535 
 6,823,199   Hawaiian Airlines 2013-1 Class A Pass-Through Certificates, Pass-Thru Certificates, 3.900% due 1/15/26   5,828,586 
 215,000   Marriott International Inc., Senior Unsecured Notes, 3.600% due 4/15/24   212,995 
 959,000EUR  Secop Group Holding GmbH, Senior Secured Notes, 12.372% (3-Month EURIBOR + 8.400%) due 12/29/26(a)   1,054,407 
 3,877,000   Tapestry Inc., Senior Unsecured Notes, 7.050% due 11/27/25   3,925,033 
     Total Consumer Cyclical   15,392,273 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Low Duration Fixed Income Fund (continued)

  

Face
Amount/Units†		   Security   Value 
Consumer Discretionary - 0.4%     
$18,750,000SEK  Rebellion Operations AB, Senior Secured Notes, 12.034% (3-Month SEK-STIBOR + 8.000%) due 5/20/25(a)  $1,624,614 
Consumer Non-cyclical - 9.1%     
 177,500   Adani International Container Terminal Pvt Ltd., Senior Secured Notes, 3.000% due 2/16/31   142,444 
 200,000   Adani Ports & Special Economic Zone Ltd., Senior Unsecured Notes, 4.000% due 7/30/27   172,091 
 210,000   Amgen Inc., Senior Unsecured Notes, 5.507% due 3/2/26   209,899 
 13,681,000   Cannabist Co. Holdings Inc., Senior Secured Notes, 9.500% due 2/3/26   11,628,850 
 5,794,000   Chobani LLC/Chobani Finance Corp., Inc., Company Guaranteed Notes, 7.500% due 4/15/25(b)   5,728,402 
 210,000   Constellation Brands Inc., Senior Unsecured Notes, 5.000% due 2/2/26   209,373 
 2,068,000   Coty Inc., Senior Secured Notes, 5.000% due 4/15/26(b)   2,018,462 
 220,000   Elevance Health Inc., Senior Unsecured Notes, 3.500% due 8/15/24   216,473 
     HCA Inc., Company Guaranteed Notes:     
 195,000   5.000% due 3/15/24   194,453 
 20,000   5.375% due 2/1/25   19,883 
     JBS USA LUX SA/JBS USA Food Co./JBS USA Finance Inc., Company Guaranteed Notes:     
 100,000   2.500% due 1/15/27   89,997 
 100,000   3.000% due 2/2/29   85,484 
 8,497,000   Leafly Holdings Inc., Senior Unsecured Notes, 8.000% due 1/31/25(c)(d)   7,222,450 
 2,261,000   Nathan's Famous Inc., Senior Secured Notes, 6.625% due 11/1/25(b)   2,244,043 
 200,000   NBM US Holdings Inc., Company Guaranteed Notes, 7.000% due 5/14/26   198,350 
 220,000   Philip Morris International Inc., Senior Unsecured Notes, 4.875% due 2/13/26   218,474 
 200,000   PSA Treasury Pte Ltd., Company Guaranteed Notes, 2.500% due 4/12/26   188,179 
     Royalty Pharma PLC, Company Guaranteed Notes:     
 40,000   1.200% due 9/2/25   36,925 
 255,000   1.750% due 9/2/27   223,407 
 7,626,000   UpHealth Inc., Senior Unsecured Notes, 6.250% due 6/15/26(b)   5,643,240 
 230,000   Zimmer Biomet Holdings Inc., Senior Unsecured Notes, 1.450% due 11/22/24   220,282 
     Total Consumer Non-cyclical   36,911,161 
Diversified - 0.6%       
 2,505,000EUR  LR Global Holding GmbH, Senior Secured Notes, 11.205% (3-Month EURIBOR + 7.250%) due 2/3/25(a)   2,631,500 
Energy - 4.4%        
 220,833   AI Candelaria Spain SA, Senior Secured Notes, 7.500% due 12/15/28   207,031 
 200,000   Cosan Luxembourg SA, Company Guaranteed Notes, 7.000% due 1/20/27   201,099 
 100,000   Ecopetrol SA, Senior Unsecured Notes, 4.125% due 1/16/25   97,097 
 210,000   Enbridge Inc., Company Guaranteed Notes, 5.900% due 11/15/26   213,598 
 215,000   Energy Transfer LP, Senior Unsecured Notes, 6.050% due 12/1/26   217,681 
 129,320   Galaxy Pipeline Assets Bidco Ltd., Senior Secured Notes, 1.750% due 9/30/27   120,201 
 141,200   GNL Quintero SA, Senior Unsecured Notes, 4.634% due 7/31/29   137,116 
 176,852   Guara Norte SARL, Senior Secured Notes, 5.198% due 6/15/34   155,941 
 3,600,000   HMH Holding BV, Senior Secured Notes, 9.875% due 11/16/26   3,618,000 
 4,705,000   NGL Energy Operating LLC/NGL Energy Finance Corp., Senior Secured Notes, 7.500% due 2/1/26(b)   4,722,677 
 200,000   Oleoducto Central SA, Senior Unsecured Notes, 4.000% due 7/14/27   181,463 
 200,000   ONGC Videsh Ltd., Company Guaranteed Notes, 4.625% due 7/15/24   198,508 
 200,000   Petrobras Global Finance BV, Company Guaranteed Notes, 7.375% due 1/17/27   207,964 
 3,653,000   Summit Midstream Holdings LLC/Summit Midstream Finance Corp., Secured Notes, 9.000% due 10/15/26(b)   3,630,479 
 200,000   Transportadora de Gas del Peru SA, Senior Unsecured Notes, 4.250% due 4/30/28   193,796 
 3,676,000   Vital Energy Inc., Company Guaranteed Notes, 9.500% due 1/15/25   3,690,248 
     Total Energy   17,792,899 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Low Duration Fixed Income Fund (continued)

  

 Face
Amount/Units†		   Security   Value 
Financial - 6.1%       
$220,000   American Express Co., Senior Unsecured Notes, 4.990% (SOFRRATE + 0.999%) due 5/1/26(a)  $217,822 
 200,000   Athene Global Funding, Senior Secured Notes, 6.046% (SOFRRATE + 0.700%) due 5/24/24(a)(b)   199,586 
 240,000   Avolon Holdings Funding Ltd., Senior Unsecured Notes, 2.125% due 2/21/26(b)   218,469 
 150,000   Banco BBVA Peru SA, Subordinated Notes, 5.250% (5-Year CMT Index + 2.750%) due 9/22/29(a)   146,989 
 200,000   Banco Bilbao Vizcaya Argentaria Colombia SA, Subordinated Notes, 4.875% due 4/21/25   193,530 
 150,000   Banco Continental SAECA, Senior Unsecured Notes, 2.750% due 12/10/25(b)   138,050 
 200,000   Banco de Bogota SA, Subordinated Notes, 6.250% due 5/12/26   192,303 
 200,000   Banco de Credito del Peru SA, Subordinated Notes, 3.125% (5-Year CMT Index + 3.000%) due 7/1/30(a)   187,734 
 150,000   Banco Inbursa SA Institucion De Banca Multiple Grupo Financiero Inbursa, Senior Unsecured Notes, 4.375% due 4/11/27   142,198 
 150,000   Banco Industrial SA, Subordinated Notes, 4.875% (5-Year CMT Index + 4.442%) due 1/29/31(a)   138,390 
 150,000   Banco Internacional del Peru SAA Interbank, Subordinated Notes, 4.000% (5-Year CMT Index + 3.711%) due 7/8/30(a)   140,062 
 200,000   Banco Nacional de Comercio Exterior SNC, Subordinated Notes, 2.720% (5-Year CMT Index + 2.000%) due 8/11/31(a)   168,241 
 200,000   Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand, Subordinated Notes, 7.525% (5-Year CMT Index + 2.995%) due 10/1/28(a)   201,669 
 200,000   Bancolombia SA, Subordinated Notes, 6.909% (5-Year CMT Index + 2.929%) due 10/18/27(a)   194,345 
 220,000   Bank of America Corp., Senior Unsecured Notes, 3.458% (3-Month TSFR + 1.232%) due 3/15/25(a)   218,283 
 210,000   Bank of Montreal, Senior Unsecured Notes, 6.057% (SOFRRATE + 0.710%) due 3/8/24(a)   210,127 
 220,000   Bank of Nova Scotia, Senior Unsecured Notes, 4.750% due 2/2/26   217,091 
 200,000   BBVA Bancomer SA, Subordinated Notes, 5.350% (5-Year CMT Index + 3.000%) due 11/12/29(a)   196,714 
 225,000   Capital One Financial Corp., Senior Unsecured Notes, 4.985% (SOFRRATE + 2.160%) due 7/24/26(a)   219,635 
 330,000   Citigroup Inc., Senior Unsecured Notes, 3.352% (3-Month TSFR + 1.158%) due 4/24/25(a)   326,407 
 220,000   Commonwealth Bank of Australia, Senior Unsecured Notes, 5.977% (SOFRRATE + 0.630%) due 9/12/25(a)(b)   220,150 
 200,000   DBS Group Holdings Ltd., Subordinated Notes, 4.520% (5-Year USD 1100 Run ICE Swap Rate + 1.590%) due 12/11/28(a)   199,946 
 344,000   Five Point Operating Co. LP/Five Point Capital Corp., Company Guaranteed Notes, 7.875% due 11/15/25(b)   329,303 
 200,000   Global Bank Corp., Senior Unsecured Notes, 5.250% (3-Month USD-LIBOR + 3.300%) due 4/16/29(a)   177,452 
 225,000   Goldman Sachs Group Inc., Senior Unsecured Notes, 3.500% due 4/1/25   218,486 
 1,560,000   Icahn Enterprises LP/Icahn Enterprises Finance Corp., Company Guaranteed Notes, 4.750% due 9/15/24   1,530,936 
 9,855   Interoceanica IV Finance Ltd., Senior Secured Notes, zero coupon, due 11/30/25   8,653 
     JPMorgan Chase & Co., Senior Unsecured Notes:     
 105,000   3.220% (3-Month TSFR + 1.417%) due 3/1/25(a)   104,272 
 225,000   3.900% due 7/15/25   220,135 
     Morgan Stanley, Senior Unsecured Notes:     
 160,000   5.803% (SOFRRATE + 0.455%) due 1/25/24(a)   159,997 
 60,000   3.875% due 1/27/26   58,293 
 200,000   Multibank Inc., Senior Unsecured Notes, 7.750% due 2/3/28(b)   196,804 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Low Duration Fixed Income Fund (continued)

  

 Face
Amount/Units†		   Security   Value 
Financial - 6.1% - (continued)       
$200,000   NongHyup Bank, Senior Unsecured Notes, 1.250% due 7/20/25  $187,066 
 20,400,000NOK  Nordic Capital Fund II AS, 10.970% (3-Month NIBOR + 6.250%) due 6/30/24(a)   1,865,974 
 13,750,000SEK  Novedo Holding AB, Senior Secured Notes, 10.564% (3-Month SEK-STIBOR + 8.000%) due 11/26/24(a)   1,201,168 
 200,000   Oversea-Chinese Banking Corp., Ltd., Subordinated Notes, 1.832% (5-Year CMT Index + 1.580%) due 9/10/30(a)   186,090 
 100,000   PNC Financial Services Group Inc., Senior Unsecured Notes, 5.812% (SOFRRATE + 1.322%) due 6/12/26(a)   99,951 
 225,000   Royal Bank of Canada, Senior Unsecured Notes, 3.375% due 4/14/25   218,770 
 2,141,000   Service Properties Trust, Senior Unsecured Notes, 4.650% due 3/15/24   2,138,198 
 25,000,000SEK  Stockwik Forvaltning AB, Senior Secured Notes, 12.106% (3-Month SEK-STIBOR + 8.000%) due 3/20/26(a)   2,166,089 
 7,593,000   StoneX Group Inc., Senior Secured Notes, 8.625% due 6/15/25(b)   7,633,144 
 215,000   Toronto-Dominion Bank, Senior Unsecured Notes, 0.700% due 9/10/24   207,326 
 205,000   Truist Financial Corp., Senior Unsecured Notes, 4.260% (SOFRRATE + 1.456%) due 7/28/26(a)   198,266 
 1,257,000   Uniti Fiber Holdings Inc., Company Guaranteed Notes, 4.000% due 6/15/24(b)   1,231,329 
 225,000   Wells Fargo & Co., Senior Unsecured Notes, 2.406% (3-Month TSFR + 1.087%) due 10/30/25(a)   217,647 
     Welltower OP LLC, Company Guaranteed Notes:     
 215,000   3.625% due 3/15/24   213,470 
 10,000   4.000% due 6/1/25   9,743 
     Total Financial   25,066,303 
Healthcare - 1.3%       
 6,180,606   ProSomnus Holdings Inc., zero coupon, due 12/31/49(c)(d)   5,466,400 
Industrial - 3.1%       
 267,172   Bioceanico Sovereign Certificate Ltd., Senior Secured Notes, zero coupon, due 6/5/34   189,552 
 220,000   Boeing Co., Senior Unsecured Notes, 4.875% due 5/1/25   217,686 
 230,000   Canadian Pacific Railway Co., Company Guaranteed Notes, 1.350% due 12/2/24   220,360 
 150,000   Carrier Global Corp., Senior Unsecured Notes, 5.800% due 11/30/25(b)   150,869 
 2,958,000   Hillenbrand Inc., Company Guaranteed Notes, 5.750% due 6/15/25   2,921,385 
 9,643,000   INNOVATE Corp., Senior Secured Notes, 8.500% due 2/1/26(b)   7,329,427 
 215,000   John Deere Capital Corp., Senior Unsecured Notes, 4.750% due 1/20/28   214,008 
 88,848   Lima Metro Line 2 Finance Ltd., Senior Secured Notes, 5.875% due 7/5/34   86,476 
 168,118   MV24 Capital BV, Senior Secured Notes, 6.748% due 6/1/34   151,368 
 200,000   Parker-Hannifin Corp., Senior Unsecured Notes, 3.650% due 6/15/24   197,591 
 225,000   Penske Truck Leasing Co. LP/PTL Finance Corp., Senior Unsecured Notes, 4.400% due 7/1/27(b)   213,713 
 225,000   Republic Services Inc., Senior Unsecured Notes, 2.500% due 8/15/24   220,461 
 215,000   Ryder System Inc., Senior Unsecured Notes, 5.250% due 6/1/28   213,848 
 200,000   St Marys Cement Inc. Canada, Company Guaranteed Notes, 5.750% due 1/28/27   198,757 
 225,000   Veralto Corp., Company Guaranteed Notes, 5.500% due 9/18/26(b)   225,848 
     Total Industrial   12,751,349 
Technology - 3.7%       
 2,554,000EUR  Azerion Group NV, Senior Secured Notes, 10.705% (3-Month EURIBOR + 6.750%) due 10/2/26(a)   2,731,629 
 25,000   Broadcom Corp./Broadcom Cayman Finance Ltd., Company Guaranteed Notes, 3.875% due 1/15/27   24,024 
 205,000   Broadcom Inc., Company Guaranteed Notes, 3.150% due 11/15/25   196,709 
 5,509,000EUR  Fiven AS, Senior Secured Notes, 10.669% (3-Month EURIBOR + 6.850%) due 12/11/26(a)(c)   6,027,083 
 4,296,000EUR  Fiven ASA, Senior Secured Notes, 10.784% (3-Month EURIBOR + 6.850%) due 6/21/24(a)   4,700,009 
 13,750,000SEK  Impala BondCo PLC, Senior Secured Notes, 13.087% (3-Month SEK-STIBOR + 9.000%) due 10/20/24(a)   877,147 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Low Duration Fixed Income Fund (continued)

  

 Face
Amount/Units†		   Security   Value 
Technology - 3.7% - (continued)     
$205,000   Microchip Technology Inc., Senior Unsecured Notes, 0.972% due 2/15/24  $202,951 
 225,000   NXP BV/NXP Funding LLC/NXP USA Inc., Company Guaranteed Notes, 4.400% due 6/1/27   217,179 
 205,000   Oracle Corp., Senior Unsecured Notes, 5.800% due 11/10/25   206,603 
     Total Technology   15,183,334 
Utilities - 0.5%       
 200,000   AES Andes SA, Junior Subordinated Notes, 7.125% (5-Year USD Swap Rate + 4.644%) due 3/26/79(a)(b)   188,756 
 300,000   Chile Electricity PEC SpA, Senior Secured Notes, zero coupon, due 1/25/28   231,731 
 95,600   Empresa Electrica Angamos SA, Senior Secured Notes, 4.875% due 5/25/29   86,040 
 225,000   Entergy Louisiana LLC, Collateral Trust, 0.950% due 10/1/24   216,938 
 200,000   Inkia Energy Ltd., Senior Unsecured Notes, 5.875% due 11/9/27   189,119 
 161,000   JSW Hydro Energy Ltd., Senior Secured Notes, 4.125% due 5/18/31   136,528 
 200,000   Mercury Chile Holdco LLC, Senior Secured Notes, 6.500% due 1/24/27(b)   182,248 
 131,562   Mexico Generadora de Energia S de rl, Senior Secured Notes, 5.500% due 12/6/32   125,491 
 200,000   Minejesa Capital BV, Senior Secured Notes, 4.625% due 8/10/30   185,750 
     Pacific Gas & Electric Co., 1st Mortgage Notes:     
 80,000   3.250% due 2/16/24   79,510 
 150,000   4.950% due 6/8/25   147,535 
 200,000   Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, Senior Unsecured Notes, 4.125% due 5/15/27   192,000 
 220,000   Southern California Edison Co., 1st Mortgage Notes, 4.900% due 6/1/26   218,273 
     Total Utilities   2,179,919 
     TOTAL CORPORATE BONDS & NOTES     
     (Cost - $211,460,705)   199,216,426 
ASSET-BACKED SECURITIES - 10.3%     
 104,356   AccessLex Institute, Series 2007-A, Class A3, 5.941% (3-Month USD-LIBOR + 0.300%) due 5/25/36(a)   101,530 
 989,306   Accredited Mortgage Loan Trust, Series 2005-1, Class M4, 5.214% (1-Month TSFR + 1.269%) due 4/25/35(a)   982,877 
 199,449   ACHV ABS Trust, Series 2023-3PL, Class A, 6.600% due 8/19/30(b)   199,515 
 107,884   ACM Auto Trust, Series 2023-1A, Class A, 6.610% due 1/22/30(b)   107,802 
     ACREC Ltd.:     
 198,329   Series 2021-FL1, Class A, 6.594% (1-Month TSFR + 1.264%) due 10/16/36(a)(b)   192,508 
 350,000   Series 2021-FL1, Class AS, 6.944% (1-Month TSFR + 1.614%) due 10/16/36(a)(b)   334,893 
     Affirm Asset Securitization Trust:     
 26,756   Series 2021-Z1, Class A, 1.070% due 8/15/25(b)   26,406 
 475,000   Series 2023-X1, Class A, 7.110% due 11/15/28(b)   475,373 
 1,000,000   Allegro CLO X Ltd., Series 2019-1A, Class AR, 6.827% (3-Month TSFR + 1.412%) due 7/20/32(a)(b)   994,896 
 30,654   Aqua Finance Trust, Series 2020-AA, Class A, 1.900% due 7/17/46(b)   28,369 
 225,000   Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL2, Class A, 6.537% (1-Month TSFR + 1.214%) due 5/15/36(a)(b)   222,317 
 250,000   BDS Ltd., Series 2021-FL10, Class A, 6.796% (1-Month TSFR + 1.464%) due 12/16/36(a)(b)   243,813 
 371,095   BRSP Ltd., Series 2021-FL1, Class A, 6.596% (1-Month TSFR + 1.264%) due 8/19/38(a)(b)   360,407 
     BSPRT Issuer Ltd.:     
 179,851   Series 2021-FL6, Class A, 6.537% (1-Month TSFR + 1.214%) due 3/15/36(a)(b)   176,703 
 209,000   Series 2021-FL7, Class A, 6.757% (1-Month TSFR + 1.434%) due 12/15/38(a)(b)   204,855 
 365,417   CAL Funding IV Ltd., Series 2020-1A, Class A, 2.220% due 9/25/45(b)   322,964 
     Carlyle US CLO Ltd.:     
 1,000,000   Series 2019-4A, Class A11R, 6.714% (3-Month TSFR + 1.320%) due 4/15/35(a)(b)   990,000 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Low Duration Fixed Income Fund (continued)

  

 Face
Amount/Units†		   Security   Value 
ASSET-BACKED SECURITIES - 10.3% (continued)     
$1,000,000   Series 2021-7A, Class A1, 6.815% (3-Month TSFR + 1.422%) due 10/15/35(a)(b)  $997,290 
     CHCP Ltd.:     
 89,157   Series 2021-FL1, Class A, 6.494% (1-Month TSFR + 1.164%) due 2/15/38(a)(b)   88,523 
 100,000   Series 2021-FL1, Class AS, 6.744% (1-Month TSFR + 1.414%) due 2/15/38(a)(b)   95,899 
 250,000   Citizens Auto Receivables Trust, Series 2023-2, Class A2A, 6.090% due 10/15/26(b)   250,253 
 177,000   CLNC Ltd., Series 2019-FL1, Class AS, 6.996% (1-Month TSFR + 1.664%) due 8/20/35(a)(b)   174,769 
 149,602   Commonbond Student Loan Trust, Series 2020-AGS, Class A, 1.980% due 8/25/50(b)   127,439 
 500,000   DataBank Issuer, Series 2023-1A, Class A2, 5.116% due 2/25/53(b)   460,885 
 500,000   Drive Auto Receivables Trust, Series 2021-3, Class C, 1.470% due 1/15/27   487,643 
     Exeter Automobile Receivables Trust:     
 49,283   Series 2021-1A, Class C, 0.740% due 1/15/26   49,150 
 375,000   Series 2023-5A, Class A2, 6.200% due 4/15/26   375,249 
 1,738,093   First Franklin Mortgage Loan Trust, Series 2003-FF2, Class M1, 7.235% (1-Month TSFR + 1.914%) due 7/25/33(a)   1,689,362 
 1,000,000   Franklin Park Place CLO I LLC, Series 2022-1A, Class A, 6.794% (3-Month TSFR + 1.400%) due 4/14/35(a)(b)   992,560 
 209,000   FS Rialto, Series 2021-FL3, Class A, 6.694% (1-Month TSFR + 1.364%) due 11/16/36(a)(b)   204,162 
 193,294   FS RIALTO, Series 2021-FL2, Class A, 6.664% (1-Month TSFR + 1.334%) due 5/16/38(a)(b)   188,987 
 456,211   Galaxy XXVII CLO Ltd., Series 2018-27A, Class A, 6.672% (3-Month TSFR + 1.282%) due 5/16/31(a)(b)   455,216 
     GLS Auto Receivables Issuer Trust:     
 347,579   Series 2021-2A, Class C, 1.080% due 6/15/26(b)   341,547 
 400,000   Series 2023-4A, Class A2, 6.400% due 12/15/26(b)   400,603 
 240,000   GPMT Ltd., Series 2021-FL4, Class A, 6.799% (1-Month TSFR + 1.464%) due 12/15/36(a)(b)   234,434 
 504,000   Greystone CRE Notes Ltd., Series 2021-FL3, Class A, 6.457% (1-Month TSFR + 1.134%) due 7/15/39(a)(b)   495,404 
 1,000,000   Greywolf CLO VII Ltd., Series 2018-2A, Class A1, 6.856% (3-Month TSFR + 1.440%) due 10/20/31(a)(b)   999,445 
 500,000   Halseypoint CLO 5 Ltd., Series 2021-5A, Class A1A, 6.862% (3-Month TSFR + 1.472%) due 1/30/35(a)(b)   498,028 
 475,380   Hayfin US XII Ltd., Series 2018-8A, Class A, 6.797% (3-Month TSFR + 1.382%) due 4/20/31(a)(b)   474,486 
 500,000   Hertz Vehicle Financing LLC, Series 2021-1A, Class B, 1.560% due 12/26/25(b)   478,068 
 114,154   HGI CRE CLO Ltd., Series 2021-FL1, Class A, 6.494% (1-Month TSFR + 1.164%) due 6/16/36(a)(b)   111,042 
 162,221   Hilton Grand Vacations Trust, Series 2020-AA, Class A, 2.740% due 2/25/39(b)   153,137 
 2,751,315   HTS Fund I LLC, Series 2021-1, Class A, 1.411% due 8/25/36(b)   2,398,681 
 1,000,000   Jamestown CLO XVI Ltd., Series 2021-16A, Class A, 6.840% (3-Month TSFR + 1.462%) due 7/25/34(a)(b)   989,000 
 500,000   Katayma CLO I Ltd., Series 2023-1A, Class A1, 7.373% (3-Month TSFR + 2.000%) due 10/20/36(a)(b)   500,001 
 330,000   KREF Ltd., Series 2021-FL2, Class A, 6.514% (1-Month TSFR + 1.184%) due 2/15/39(a)(b)   320,124 
 12,217   Laurel Road Prime Student Loan Trust, Series 2019-A, Class A1FX, 2.340% due 10/25/48(b)   11,852 
     LCCM Trust:     
 282,624   Series 2021-FL2, Class A, 6.637% (1-Month TSFR + 1.314%) due 12/13/38(a)(b)   272,744 
 310,000   Series 2021-FL3, Class A, 6.887% (1-Month TSFR + 1.564%) due 11/15/38(a)(b)   306,722 
 494,612   Lendbuzz Securitization Trust, Series 2023-2A, Class A2, 7.090% due 10/16/28(b)   494,770 
 349,023   Lendingpoint Asset Securitization Trust, Series 2022-C, Class A, 6.560% due 2/15/30(b)   348,615 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Low Duration Fixed Income Fund (continued)

  

 Face
Amount/Units†		   Security   Value 
ASSET-BACKED SECURITIES - 10.3% (continued)     
$4,146   LMREC Inc., Series 2019-CRE3, Class A, 6.857% (1-Month TSFR + 1.514%) due 12/22/35(a)(b)  $4,144 
     LoanCore Issuer Ltd.:     
 356,877   Series 2021-CRE5, Class A, 6.737% (1-Month TSFR + 1.414%) due 7/15/36(a)(b)   351,596 
 410,000   Series 2021-CRE6, Class A, 6.737% (1-Month TSFR + 1.414%) due 11/15/38(a)(b)   400,432 
 1,000,000   Marble Point CLO XXI Ltd., Series 2021-3A, Class A1, 6.904% (3-Month TSFR + 1.502%) due 10/17/34(a)(b)   999,032 
 500,000   Marble Point CLO XXII Ltd., Series 2021-2A, Class A, 6.840% (3-Month TSFR + 1.462%) due 7/25/34(a)(b)   493,995 
     Marlette Funding Trust:     
 30,405   Series 2019-4A, Class C, 3.760% due 12/17/29(b)   30,202 
 309,439   Series 2022-1A, Class B, 2.340% due 4/15/32(b)   304,491 
 480,000   ME Funding LLC, Series 2019-1, Class A2, 6.448% due 7/30/49(b)   470,843 
     MF1 Ltd.:     
 193,007   Series 2021-FL6, Class A, 6.544% (1-Month TSFR + 1.214%) due 7/16/36(a)(b)   189,509 
 207,917   Series 2021-FL7, Class A, 6.526% (1-Month TSFR + 1.194%) due 10/16/36(a)(b)   203,628 
 412,897   MMAF Equipment Finance LLC, Series 2022-B, Class A2, 5.570% due 9/9/25(b)   411,877 
 66,030   Navient Private Education Refi Loan Trust, Series 2020-GA, Class A, 1.170% due 9/16/69(b)   58,322 
 854,687   Northwoods Capital XVI Ltd., Series 2017-16A, Class A, 6.911% (3-Month TSFR + 1.532%) due 11/15/30(a)(b)   854,769 
 979,437   Ocean Trails CLO V, Series 2014-5A, Class ARR, 6.935% (3-Month TSFR + 1.542%) due 10/13/31(a)(b)   974,374 
 243,426   OCP CLO Ltd., Series 2014-5A, Class A1R, 6.721% (3-Month TSFR + 1.342%) due 4/26/31(a)(b)   242,921 
     Pagaya AI Debt Selection Trust:     
 258,919   Series 2021-1, Class B, 2.130% due 11/15/27(b)   256,846 
 623,661   Series 2021-3, Class B, 1.740% due 5/15/29(b)   614,961 
 42,801   Series 2021-5, Class A, 1.530% due 8/15/29(b)   42,516 
     Pagaya AI Debt Trust:     
 66,741   Series 2022-1, Class A, 2.030% due 10/15/29(b)   65,569 
 121,623   Series 2022-3, Class A, 6.060% due 3/15/30(b)   121,198 
 374,083   Series 2023-3, Class A, 7.600% due 12/16/30(b)   375,614 
 378,501   PRET LLC, Series 2021-NPL3, Class A1, step bond to yield, 1.868% due 7/25/51(b)   354,980 
 428,048   Prosper Marketplace Issuance Trust, Series 2023-1A, Class A, 7.060% due 7/16/29(b)   428,774 
 1,000,000   RRX 3 Ltd., Series 2021-3A, Class A1, 6.975% (3-Month TSFR + 1.582%) due 4/15/34(a)(b)   998,000 
 1,000,000   Sound Point CLO VI-R Ltd., Series 2014-2RA, Class A, 6.927% (3-Month TSFR + 1.512%) due 10/20/31(a)(b)   993,085 
 429,522   Sound Point CLO XVIII Ltd., Series 2017-4A, Class A1, 6.797% (3-Month TSFR + 1.382%) due 1/21/31(a)(b)   427,975 
 968,425   Steele Creek CLO Ltd., Series 2018-2A, Class A, 6.829% (3-Month TSFR + 1.462%) due 8/18/31(a)(b)   968,227 
 199,822   STWD Ltd., Series 2021-FL2, Class A, 6.644% (1-Month TSFR + 1.314%) due 4/18/38(a)(b)   193,959 
 250,000   Tesla Auto Lease Trust, Series 2021-B, Class B, 0.910% due 9/22/25(b)   242,366 
 314,382   Theorem Funding Trust, Series 2023-1A, Class A, 7.580% due 4/15/29(b)   316,603 
     THL Credit Wind River CLO Ltd.:     
 2,000,000   Series 2017-1A, Class ARR, 6.717% (3-Month TSFR + 1.322%) due 4/18/36(a)(b)   1,962,674 
 1,300,000   Series 2019-1A, Class AR, 6.837% (3-Month TSFR + 1.422%) due 7/20/34(a)(b)   1,292,119 
 148,502   TRTX Issuer Ltd., Series 2021-FL4, Class A, 6.644% (1-Month TSFR + 1.314%) due 3/15/38(a)(b)   145,347 
 399,768   VCAT LLC, Series 2021-NPL4, Class A1, step bond to yield, 1.868% due 8/25/51(b)   376,979 
 600,000   Vibrant CLO IV Ltd., Series 2016-4A, Class A1RR, 6.797% (3-Month TSFR + 1.382%) due 7/20/32(a)(b)   594,626 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Low Duration Fixed Income Fund (continued)

  

 Face
Amount/Units†		   Security   Value 
ASSET-BACKED SECURITIES - 10.3% (continued)     
$372,956   Vibrant CLO VIII Ltd., Series 2018-8A, Class A1A, 6.817% (3-Month TSFR + 1.402%) due 1/20/31(a)(b)  $372,373 
 150,000   VMC Finance LLC, Series 2022-FL5, Class A, 7.225% (SOFR30A + 1.900%) due 2/18/39(a)(b)   146,370 
 349,518   VOLT XCII LLC, Series 2021-NPL1, Class A1, step bond to yield, 1.893% due 2/27/51(b)   332,896 
 244,731   VOLT XCIV LLC, Series 2021-NPL3, Class A1, step bond to yield, 2.240% due 2/27/51(b)   233,412 
 514,505   VOLT XCIX LLC, Series 2021-NPL8, Class A1, step bond to yield, 2.116% due 4/25/51(b)   484,320 
 1,000,000   Wellfleet CLO Ltd., Series 2020-2A, Class AR, 6.875% (3-Month TSFR + 1.482%) due 7/15/34(a)(b)   993,575 
 325,000   Westlake Automobile Receivables Trust, Series 2023-4A, Class A2, 6.230% due 1/15/27(b)   325,975 
     TOTAL ASSET-BACKED SECURITIES     
     (Cost - $ 42,437,618)   42,082,792 
COLLATERALIZED MORTGAGE OBLIGATIONS - 9.0%     
 187,662   Angel Oak Mortgage Trust, Series 2020-6, Class A1, 1.261% due 5/25/65(a)(b)   159,601 
 183,000   Arbor Multifamily Mortgage Securities Trust, Series 2021-MF2, Class A2, 2.023% due 6/15/54(b)   166,314 
     BANK:     
 1,255,611   Series 2017-BNK4, Class XA, 1.498% due 5/15/50(a)(e)   43,213 
 1,645,730   Series 2017-BNK6, Class XA, 0.905% due 7/15/60(a)(e)   34,159 
 200,000   BBCMS Mortgage Trust, Series 2019-BWAY, Class A, 6.393% (1-Month TSFR + 1.070%) due 11/15/34(a)(b)   154,100 
     Benchmark Mortgage Trust:     
 9,850,747   Series 2018-B4, Class XA, 0.606% due 7/15/51(a)(e)   148,284 
 3,659,510   Series 2020-B16, Class XA, 0.922% due 2/15/53(a)(e)   155,131 
 44,961   BHP Trust, Series 2019-BXHP, Class A, 6.345% (1-Month TSFR + 1.022%) due 8/15/36(a)(b)   44,603 
 232,990   BMO Mortgage Trust, Series 2023-C5, Class A1, 5.740% due 6/15/56   230,180 
 208,000   BPR Trust, Series 2021-TY, Class A, 6.487% (1-Month TSFR + 1.164%) due 9/15/38(a)(b)   200,869 
     BRAVO Residential Funding Trust:     
 546,495   Series 2021-A, Class A1, step bond to yield, 1.991% due 10/25/59(b)   525,536 
 834,733   Series 2022-RPL1, Class A1, 2.750% due 9/25/61(a)(b)   731,471 
 580,229   Series 2023-NQM5, Class A1, step bond to yield, 6.505% due 6/25/63(b)   579,788 
     BX Commercial Mortgage Trust:     
 2,210,372   Series 2019-XL, Class A, 6.357% (1-Month TSFR + 1.034%) due 10/15/36(a)(b)   2,204,760 
 141,057   Series 2021-21M, Class A, 6.167% (1-Month TSFR + 0.844%) due 10/15/36(a)(b)   138,003 
 100,000   Series 2021-CIP, Class A, 6.358% (1-Month TSFR + 1.035%) due 12/15/38(a)(b)   97,239 
 1,128,012   Series 2021-SOAR, Class B, 6.307% (1-Month TSFR + 0.984%) due 6/15/38(a)(b)   1,098,611 
 208,000   Series 2021-VOLT, Class B, 6.387% (1-Month TSFR + 1.064%) due 9/15/36(a)(b)   201,472 
 2,747,000   Series 2021-VOLT, Class C, 6.537% (1-Month TSFR + 1.214%) due 9/15/36(a)(b)   2,626,298 
 163,423   Series 2021-XL2, Class B, 6.435% (1-Month TSFR + 1.112%) due 10/15/38(a)(b)   159,218 
 162,014   Series 2022-LP2, Class A, 6.336% (1-Month TSFR + 1.013%) due 2/15/39(a)(b)   158,101 
 247,216   BX Mortgage Trust, Series 2022-MVRK, Class A, 6.790% (1-Month TSFR + 1.467%) due 3/15/39(a)(b)   243,992 
 80,656   BX Trust, Series 2019-CALM, Class A, 6.313% (1-Month TSFR + 0.990%) due 11/15/32(a)(b)   80,196 
 1,323,620   CD Mortgage Trust, Series 2017-CD4, Class XA, 1.378% due 5/10/50(a)(e)   41,484 
 287,000   CFCRE Commercial Mortgage Trust, Series 2017-C8, Class XB, 1.060% due 6/15/50(a)(e)   7,569 
     Citigroup Commercial Mortgage Trust:     
 244,000   Series 2015-GC27, Class A5, 3.137% due 2/10/48   236,401 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Low Duration Fixed Income Fund (continued)

  

 Face
Amount/Units†		   Security   Value 
COLLATERALIZED MORTGAGE OBLIGATIONS - 9.0% (continued)     
$200,000   Series 2015-P1, Class A5, 3.717% due 9/15/48  $191,547 
 248,000   Series 2016-P3, Class A3, 3.063% due 4/15/49   235,470 
 400,000   Series 2016-P3, Class A4, 3.329% due 4/15/49   374,754 
 252,125   Series 2017-P7, Class A3, 3.442% due 4/14/50   235,132 
 386,000   Series 2019-PRM, Class D, 4.350% due 5/10/36(b)   385,414 
 5,087   COLT Mortgage Loan Trust, Series 2020-2, Class A1, 1.853% due 3/25/65(a)(b)   5,051 
 123,281   COLT Mortgage Pass-Through Certificates, Series 2021-1R, Class A1, 0.857% due 5/25/65(a)(b)   102,186 
 690,291   COLT Trust, Series 2021-RPL1, Class A1, 1.665% due 9/25/61(a)(b)   591,345 
     Commercial Mortgage Trust:     
 240,414   Series 2014-LC15, Class A4, 4.006% due 4/10/47   239,197 
 227,000   Series 2018-HCLV, Class A, 6.619% (1-Month TSFR + 1.296%) due 9/15/33(a)(b)   204,300 
 408,178   Credit Suisse Commercial Mortgage Capital Trust, Series 2020-RPL3, Class A1, 4.071% due 3/25/60(a)(b)   404,201 
 1,750,645   Credit Suisse Mortgage Capital Certificates, Series 2019-ICE4, Class B, 6.600% (1-Month TSFR + 1.277%) due 5/15/36(a)(b)   1,744,443 
     CSAIL Commercial Mortgage Trust:     
 575,822   Series 2017-C8, Class XA, 1.236% due 6/15/50(a)(e)   16,956 
 4,057,790   Series 2017-CX10, Class XA, 0.887% due 11/15/50(a)(e)   86,909 
 3,041,788   Series 2018-CX12, Class XA, 0.702% due 8/15/51(a)(e)   65,488 
     DBJPM Mortgage Trust:     
 200,000   Series 2016-C3, Class A5, 2.890% due 8/10/49   183,125 
 300,000   Series 2020-C9, Class A2, 1.900% due 8/15/53   273,819 
 1,151,335   Ellington Financial Mortgage Trust, Series 2022-3, Class A1, step bond to yield, 5.000% due 8/25/67(b)   1,112,646 
 149,826   ELP Commercial Mortgage Trust, Series 2021-ELP, Class A, 6.138% (1-Month TSFR + 0.815%) due 11/15/38(a)(b)   146,629 
 208,996   EQUS Mortgage Trust, Series 2021-EQAZ, Class A, 6.192% (1-Month TSFR + 0.869%) due 10/15/38(a)(b)   203,746 
 1,332,899   Federal Home Loan Mortgage Corp. (FHLMC), REMICS, Series 4987, Class BF, 5.843% (SOFR30A + 0.514%) due 6/25/50(a)   1,274,504 
 237,852   Federal National Mortgage Association (FNMA) REMICS, Series 2019-43, Class FD, 5.843% (SOFR30A + 0.514%) due 8/25/49(a)   227,441 
     Federal National Mortgage Association (FNMA), Aces:     
 1,128,771   Series 2020-M49, Class 1A1, 1.297% due 11/25/30(a)   999,494 
 169,724   Series 2021-M7, Class A1, 1.783% due 3/25/31(a)   150,694 
 889,370   GCAT Trust, Series 2022-NQM4, Class A1, step bond to yield, 5.269% due 8/25/67(b)   865,255 
 217,091   GPMT Ltd., Series 2021-FL3, Class A, 6.696% (1-Month TSFR + 1.364%) due 7/16/35(a)(b)   210,850 
 184,000   Great Wolf Trust, Series 2019-WOLF, Class A, 6.471% (1-Month TSFR + 1.148%) due 12/15/36(a)(b)   182,655 
 250,000   GS Mortgage Securities Corp. II, Series 2023-SHIP, Class A, 4.466% due 9/10/38(a)(b)   239,583 
 208,000   GS Mortgage Securities Corp. Trust, Series 2021-IP, Class A, 6.387% (1-Month TSFR + 1.064%) due 10/15/36(a)(b)   199,593 
     GS Mortgage Securities Trust:     
 3,626,880   Series 2016-GS4, Class XA, 0.688% due 11/10/49(a)(e)   47,440 
 1,688,139   Series 2017-GS6, Class XA, 1.156% due 5/10/50(a)(e)   47,306 
 3,239,819   Series 2017-GS8, Class XA, 1.082% due 11/10/50(a)(e)   90,695 
 250,000   IMT Trust, Series 2017-APTS, Class AFX, 3.478% due 6/15/34(b)   245,054 
     JP Morgan Chase Commercial Mortgage Securities Trust:     
 1,260,842   Series 2014-C20, Class XA, 0.854% due 7/15/47(a)(e)   922 
 285,000   Series 2016-JP2, Class A4, 2.822% due 8/15/49   260,749 
 4,075,000   Series 2020-MKST, Class XCP, zero coupon, due 12/15/36(a)(b)(c)(e)   41 
     JPMBB Commercial Mortgage Securities Trust:     
 154,957   Series 2014-C18, Class A5, 4.079% due 2/15/47   153,788 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Low Duration Fixed Income Fund (continued)

  

 Face
Amount/Units†		   Security   Value 
COLLATERALIZED MORTGAGE OBLIGATIONS - 9.0% (continued)     
$334,000   Series 2014-C21, Class A5, 3.775% due 8/15/47  $328,658 
 791,676   Series 2015-C32, Class XA, 1.253% due 11/15/48(a)(e)   8,724 
 200,000   Series 2016-C1, Class A5, 3.576% due 3/17/49   189,017 
     Legacy Mortgage Asset Trust:     
 219,363   Series 2020-GS4, Class A1, step bond to yield, 6.250% due 2/25/60(b)   220,639 
 363,993   Series 2021-GS4, Class A1, step bond to yield, 1.650% due 11/25/60(b)   337,820 
 96,854   Series 2021-SL1, Class A, 1.991% due 9/25/60(a)(b)   96,067 
 2,940,000   Life Mortgage Trust, Series 2022-BMR2, Class A1, 6.618% (1-Month TSFR + 1.295%) due 5/15/39(a)(b)   2,879,118 
 99,522   Med Trust, Series 2021-MDLN, Class A, 6.387% (1-Month TSFR + 1.064%) due 11/15/38(a)(b)   97,086 
 665,358   MFA Trust, Series 2023-NQM3, Class A1, step bond to yield, 6.617% due 7/25/68(b)   664,167 
 190,527   MHP, Series 2022-MHIL, Class A, 6.138% (1-Month TSFR + 0.815%) due 1/15/27(a)(b)   186,104 
 245,168   Morgan Stanley Bank of America Merrill Lynch Trust, Series 2014-C17, Class A5, 3.741% due 8/15/47   241,235 
     Morgan Stanley Capital I Trust:     
 1,158,271   Series 2016-UB11, Class XA, 1.573% due 8/15/49(a)(e)   34,912 
 3,452,156   Series 2016-UB12, Class XA, 0.786% due 12/15/49(a)(e)   53,893 
 849,821   Series 2017-H1, Class XA, 1.478% due 6/15/50(a)(e)   24,215 
 184,000   Series 2021-L6, Class A2, 2.126% due 6/15/54(a)   154,144 
 209,308   MSC Trust, Series 2021-ILP, Class A, 6.215% (1-Month TSFR + 0.892%) due 11/15/36(a)(b)   204,054 
     New Residential Mortgage Loan Trust:     
 1,065,459   Series 2019-RPL3, Class A1, 2.750% due 7/25/59(a)(b)   990,482 
 140,611   Series 2020-NQM1, Class A2, 2.718% due 1/26/60(a)(b)   125,509 
 334,777   NYMT Loan Trust, Series 2020-SP2, Class A1, 5.944% due 10/25/60(a)(b)   333,163 
     OBX Trust:     
 623,790   Series 2022-NQM1, Class A1, 2.305% due 11/25/61(a)(b)   519,183 
 890,717   Series 2023-NQM1, Class A1, 6.120% due 11/25/62(a)(b)   884,352 
 58,584   PFP Ltd., Series 2021-8, Class A, 6.444% (1-Month TSFR + 1.114%) due 8/9/37(a)(b)   57,560 
 444,114   PRPM LLC, Series 2021-4, Class A1, step bond to yield, 1.867% due 4/25/26(b)   422,538 
 200,000   RIAL Issuer Ltd., Series 2022-FL8, Class A, 7.580% (1-Month TSFR + 2.250%) due 1/19/37(a)(b)   195,750 
 576,000   SMRT, Series 2022-MINI, Class B, 6.673% (1-Month TSFR + 1.350%) due 1/15/39(a)(b)   557,208 
 210,000   SREIT Trust, Series 2021-MFP, Class A, 6.168% (1-Month TSFR + 0.845%) due 11/15/38(a)(b)   206,107 
 825,723   UBS Commercial Mortgage Trust, Series 2017-C1, Class XA, 1.684% due 6/15/50(a)(e)   32,971 
     Velocity Commercial Capital Loan Trust:     
 946,295   Series 2021-2, Class A, 1.520% due 8/25/51(a)(b)   776,704 
 365,744   Series 2021-2, Class M1, 1.820% due 8/25/51(a)(b)   291,418 
     Verus Securitization Trust:     
 266,862   Series 2019-INV2, Class A3, 4.219% due 7/25/59(a)(b)   257,743 
 22,338   Series 2020-2, Class A1, 2.226% due 5/25/60(a)(b)   21,800 
 521,808   Series 2021-7, Class A1, 1.829% due 10/25/66(a)(b)   438,743 
 192,245   Series 2021-R1, Class A2, 1.057% due 10/25/63(a)(b)   172,545 
 525,297   Series 2023-1, Class A1, step bond to yield, 5.850% due 12/25/67(b)   519,308 
 663,676   Series 2023-INV2, Class A1, step bond to yield, 6.443% due 8/25/68(b)   662,792 
 87,405   Vista Point Securitization Trust, Series 2020-2, Class A1, 1.475% due 4/25/65(a)(b)   78,472 
     Wells Fargo Commercial Mortgage Trust:     
 236,000   Series 2015-C30, Class A4, 3.664% due 9/15/58   226,079 
 2,191,300   Series 2015-LC22, Class XA, 0.896% due 9/15/58(a)(e)   23,035 
 4,337,885   Series 2015-NXS2, Class XA, 0.730% due 7/15/58(a)(e)   29,973 
 185,000   Series 2021-C60, Class A2, 2.042% due 8/15/54   167,839 
 57,265   Series 2021-SAVE, Class A, 6.587% (1-Month TSFR + 1.264%) due 2/15/40(a)(b)   54,966 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Low Duration Fixed Income Fund (continued)

  

 Face
Amount/Units†		   Security   Value 
COLLATERALIZED MORTGAGE OBLIGATIONS - 9.0% (continued)     
$250,000   WFRBS Commercial Mortgage Trust, Series 2014-C22, Class A5, 3.752% due 9/15/57  $243,052 
     TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS     
     (Cost - $40,011,539)   36,474,160 
SENIOR LOANS(a) - 7.4%     
 7,386,967   Cengage Learning Inc., 10.406% (3-Month USD-SOFR + 4.750%) due 7/14/26   7,375,000 
 1,173,573   Diebold Nixdorf Inc., 12.891% (3-Month USD-SOFR + 7.500%) due 8/11/28   1,182,081 
 4,829,600   First Brands Group LLC, 10.881% (6-Month USD-SOFR + 5.000%) due 3/30/27   4,745,082 
 2,667,467   Getty Images Inc., 9.990% (3-Month USD-SOFR + 4.500%) due 2/19/26   2,674,136 
     K&N Parent Inc.:     
 2,917,206   13.271% due 2/3/27(c)(d)   2,902,620 
 3,244,649   10.713% (1-Month USD-SOFR + 5.250%) due 8/16/27   2,563,273 
 2,695,935   Lealand Finance Co. BV, 8.463% (1-Month USD-SOFR + 3.000%) due 6/28/24   1,887,155 
 3,207,711   Lions Gate Capital Holdings LLC, 7.674% (1-Month USD-SOFR + 2.250%) due 3/24/25   3,200,366 
 3,763,079   QuarterNorth Energy Holding Inc., 13.463% (1-Month USD-SOFR + 8.000%) due 8/27/26   3,748,967 
     TOTAL SENIOR LOANS     
     (Cost - $34,220,102)   30,278,680 
U.S. GOVERNMENT OBLIGATIONS - 5.8%     
     U.S. Treasury Notes:     
 2,480,000   3.875% due 4/30/25   2,442,994 
 3,990,000   4.250% due 5/31/25   3,951,503 
 1,040,000   4.625% due 6/30/25   1,036,059 
 7,000,000   3.125% due 8/15/25   6,806,133 
 2,280,000   5.000% due 8/31/25   2,286,947 
 2,660,000   5.000% due 9/30/25   2,669,767 
 1,630,000   4.125% due 6/15/26   1,613,891 
 1,340,000   4.625% due 9/15/26   1,344,606 
 1,340,000   4.625% due 10/15/26   1,344,920 
     TOTAL U.S. GOVERNMENT OBLIGATIONS     
     (Cost - $23,407,066)   23,496,820 
MORTGAGE-BACKED SECURITIES - 0.6%     
FHLMC - 0.1%         
     Freddie Mac Pool:     
 178,861   3.000% due 5/1/42   156,389 
 203,860   3.500% due 10/1/42   182,244 
     TOTAL FHLMC   338,633 
FNMA - 0.5%         
     Federal National Mortgage Association (FNMA) Pool:     
 202,258   3.000% due 5/1/42   176,846 
 1,400,000   4.810% due 9/1/29   1,377,622 
 504,405   5.000% due 8/1/43   493,184 
     TOTAL FNMA   2,047,652 
     TOTAL MORTGAGE-BACKED SECURITIES     
     (Cost - $2,452,105)   2,386,285 
SOVEREIGN BONDS - 0.2%    
Colombia - 0.0%       
 200,000   Colombia Government International Bond, 4.500% due 1/28/26   193,560 
Dominican Republic - 0.0%     
 100,000   Dominican Republic International Bond, 5.500% due 1/27/25   98,757 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Low Duration Fixed Income Fund (continued)

  

 Face
Amount/Units†		   Security   Value 
Peru - 0.1%         
$200,000   Corp. Financiera de Desarrollo SA, 5.250% due 7/15/29(a)  $195,366 
South Africa - 0.1%       
 200,000   Republic of South Africa Government International Bond, 4.875% due 4/14/26   193,910 
     TOTAL SOVEREIGN BONDS     
     (Cost - $713,456)   681,593 

 

Shares/Units         
          
EXCHANGE TRADED FUND (ETF) - 11.3%     
 980,272   iShares Core 1-5 Year USD Bond     
     (Cost - $45,069,771)   46,087,488 
PREFERRED STOCK - 1.0%     
FINANCIAL - 1.0%       
Diversified Financial Services - 1.0%     
 164,056   SWK Holdings Corp., 9.000%*     
     (Cost - $4,101,400)   4,088,275 
COMMON STOCKS - 0.3%       
CONSUMER NON-CYCLICAL - 0.0%     
Healthcare-Services - 0.0%     
 161,689   UpHealth Inc.*   71,127 
DIVERSIFIED - 0.1%       
Holding Companies-Diversified - 0.1%     
 19,000   Agriculture & Natural Solutions Acquisition Corp.*(f)   191,710 
 25,927   Berenson Acquisition Corp. I*(c)(d)   – 
     Total Holding Companies-Diversified   191,710 
     TOTAL DIVERSIFIED   191,710 
FINANCIAL - 0.2%     
Financial Services - 0.2%     
 16,305   Alpha Partners Technology*(c)(d)   833 
 273,338   K&N Holdco LLC*(c)(d)   615,010 
 12,300   Revelstone Capital Acquisition Corp.*(c)(d)   430 
     Total Financial Services   616,273 
     TOTAL FINANCIAL   616,273 
     TOTAL COMMON STOCKS     
     (Cost - $568,782)   879,110 
WARRANTS - 0.0%     
BASIC MATERIALS - 0.0%     
Iron/Steel - 0.0%       
 26,954,480   Tacora Resources Inc.*(c)(d)   – 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Low Duration Fixed Income Fund (continued)

 

 Shares/Units   Security   Value 
DIVERSIFIED - 0.0%     
Holding Companies-Diversified - 0.0%     
 75,173   Financials Acquisition Corp.*(c)  $2,847 
 131,256   Hambro Perks Acquisition Co., Ltd.*(c)(d)   – 
 72,418   Hiro Metaverse Acquisitions I SA*(c)   14,172 
 43,327   Leafly Holdings Inc.*(c)   888 
     Total Holding Companies-Diversified   17,907 
     TOTAL DIVERSIFIED   17,907 
HEALTHCARE - 0.0%       
Healthcare Equipment & Supplies - 0.0%     
 61,806   ProSomnus Inc.*(c)   1,180 
     TOTAL WARRANTS     
     (Cost - $1,977)   19,087 
     TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS     
     (Cost - $404,444,521)   385,690,716 

 

 Face
Amount		         
           
SHORT-TERM INVESTMENTS - 5.9%     
CORPORATE NOTE - 0.4%     
$1,468,461   Tacora Resources Inc., 13.000% due 11/3/23(b)(c)(g)     
     (Cost - $1,468,631)   1,468,461 
TIME DEPOSITS - 3.8%     
 3,947,741   Citibank - New York, 4.680% due 12/1/23   3,947,741 
 11,433,072   JPMorgan Chase & Co. - New York, 4.680% due 12/1/23   11,433,072 
     TOTAL TIME DEPOSITS     
     (Cost - $15,380,813)   15,380,813 
U.S. GOVERNMENT OBLIGATIONS - 1.7%     
     U.S. Treasury Bills:     
 5,000,000    5.462% due 3/28/24(h)   4,914,532 
 2,260,000    5.167% due 5/16/24(h)   2,205,868 
     TOTAL U.S. GOVERNMENT OBLIGATIONS     
     (Cost - $7,121,156)   7,120,400 
     TOTAL SHORT-TERM INVESTMENTS     
     (Cost - $23,970,600)   23,969,674 
           
 Shares/Units         
           
INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING - 0.0%     
MONEY MARKET FUND - 0.0%    
 105,060   Federated Government Obligations Fund, Premier Class, 5.213%(i)     
     (Cost - $105,060)   105,060 
     TOTAL INVESTMENTS - 100.6%     
     (Cost - $428,520,181)   409,765,450 
     Liabilities in Excess of Other Assets - (0.6)%   (2,563,087)
     TOTAL NET ASSETS - 100.0%  $407,202,363 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Low Duration Fixed Income Fund (continued)

 

 

†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 November 30, 2023.
(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 November 30, 2023, amounts to $160,224,657 and represents 39.35% of net assets.
(c)Illiquid security. The aggregate value of illiquid holdings at November 30, 2023, amounts to $30,626,316 and represents 7.52% 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)Interest only security.
(f)All or a portion of this security is on loan.
(g)Security is currently in default.
(h)Rate shown represents yield-to-maturity.
(i)Represents investment of collateral received from securities lending transactions.

 

Abbreviations used in this schedule:
 
CLO — Collateralized Loan Obligation
CMT — Constant Maturity Treasury Index
EURIBOR — Euro Interbank Offered Rate
ICE — Intercontinental Exchange
LIBOR — London Interbank Offered Rate
LLC — Limited Liability Company
LP — Limited Partnership
MFA — Mortgage Finance Authority
NIBOR — Norwegian Interbank Offered Rate
PLC — Public Limited Company
REMICS — Real Estate Mortgage Investment Conduit
SOFR — Secured Overnight Financing Rate
STIBOR — Stockholm Interbank Offered Rate
TSFR — CME Term SOFR Reference Rate

 

Summary of Investments by Security Type^        
Corporate Bonds & Notes   48.6%
Exchange Traded Fund (ETF)   11.3 
Asset-Backed Securities   10.3 
Collateralized Mortgage Obligations   8.9 
Senior Loans   7.4 
U.S. Government Obligations   5.7 
Preferred Stock   1.0 
Mortgage-Backed Securities   0.6 
Common Stocks   0.2 
Sovereign Bonds   0.2 
Warrants   0.0*
Short-Term Investments   5.8 
Money Market Fund   0.0*
    100.0%
      

 

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

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Low Duration Fixed Income Fund (concluded)

 

At November 30, 2023, Destinations Low Duration Fixed Income Fund had open forward foreign currency contracts as described below.

 

The unrealized (depreciation) on the open contracts was as follows:

 

Foreign Currency 

Local

Currency

   Counterparty 

Market

Value

   Settlement
Date		  Unrealized
Appreciation		   Unrealized
(Depreciation)		 
Contracts to Buy:                          
Euro   102,000   BBH  $111,090   12/15/23  $          –   $(731)
                           
Contracts to Sell:                          
Euro   18,850,000   BBH   20,529,900   12/15/23  $–   $(393,764)
Norwegian Krone   20,590,000   BBH   1,903,048   12/15/23   –    (56,797)
Swedish Krona   47,270,000   BBH   4,503,007   12/15/23   –    (162,097)
Swedish Krona   17,340,000   BBH   1,651,833   12/15/23   –    (11,032)
                   $–   $(623,690)
Net Unrealized Depreciation on Open Forward Foreign Currency Contracts            $–   $(624,421)

 

Counterparty Abbreviations used in this schedule:
BBH — Brown Brothers Harriman & Co.

 

Currency Abbreviations used in this schedule:

EUR — Euro
NOK — Norwegian Krone
SEK — Swedish Krona

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund

 

Face
Amount/Units†		   Security  Value 
CORPORATE BONDS & NOTES - 72.3% 
Australia - 1.3%    
$9,018,000   Infrabuild Australia Pty Ltd., Senior Secured Notes, 14.500% due 11/15/28(a)  $9,086,537 
 1,800,000   QBE Insurance Group Ltd., Subordinated Notes, 6.750% (USD Swap Rate + 4.300%) due 12/2/44(b)   1,782,427 
     Total Australia   10,868,964 
Bermuda - 0.7%    
 200,000   Aegon Ltd., Subordinated Notes, 5.500% (6-Month USD-LIBOR + 3.540%) due 4/11/48(b)   185,866 
     Digicel Group Holdings Ltd.:     
 289,791   Senior Unsecured Notes, 8.000% due 4/1/25(a)(c)(d)   66,652 
 65,015   Subordinated Notes, 7.000% (a)(e)(f)   4,876 
 1,500,000   Geopark Ltd., Company Guaranteed Notes, 5.500% due 1/17/27   1,309,160 
 4,185,000   Inkia Energy Ltd., Senior Unsecured Notes, 5.875% due 11/9/27   3,957,317 
     Total Bermuda   5,523,871 
Brazil - 1.1%       
 5,100,000   Banco do Brasil SA, Junior Subordinated Notes, 6.250% (5-Year CMT Index + 4.398%) (b)(e)   4,877,793 
 1,400,000   Banco do Estado do Rio Grande do Sul SA, Subordinated Notes, 5.375% (5-Year CMT Index + 4.928%) due 1/28/31(b)   1,295,035 
 1,800,000   BRF SA, Senior Unsecured Notes, 4.875% due 1/24/30   1,539,344 
 1,500,000   Itau Unibanco Holding SA, Junior Subordinated Notes, 4.625% (5-Year CMT Index + 3.222%) (b)(e)   1,276,145 
     Total Brazil   8,988,317 
British Virgin Islands - 0.0%     
 200,000   Gold Fields Orogen Holdings BVI Ltd., Company Guaranteed Notes, 5.125% due 5/15/24   198,603 
Canada - 2.7%     
 3,350,000   Canacol Energy Ltd., Company Guaranteed Notes, 5.750% due 11/24/28   2,537,625 
 10,024,000   Cannabist Co. Holdings Inc., Senior Secured Notes, 9.500% due 2/3/26   8,520,400 
 1,135,000   Emera Inc., Junior Subordinated Notes, 6.750% (3-Month USD-LIBOR + 5.440%) due 6/15/76(b)   1,097,571 
     Enbridge Inc., Subordinated Notes:     
 200,000   6.000% (3-Month TSFR + 4.152%) due 1/15/77(b)   181,518 
 315,000   5.500% (3-Month TSFR + 3.680%) due 7/15/77(b)   276,942 
 735,000   5.750% (5-Year CMT Index + 5.314%) due 7/15/80(b)   638,715 
 575,000   7.625% (5-Year CMT Index + 4.418%) due 1/15/83(b)   543,523 
 700,000   8.500% (5-Year CMT Index + 4.431%) due 1/15/84(b)   702,223 
 6,300,000   MEGlobal Canada ULC, Company Guaranteed Notes, 5.000% due 5/18/25   6,174,630 
 1,000,000   MEGlobal Canada ULC 1, Company Guaranteed Notes, 5.000% due 5/18/25(a)   980,100 
     Transcanada Trust, Company Guaranteed Notes:     
 90,000   5.875% (3-Month USD-LIBOR + 4.640%) due 8/15/76(b)   84,201 
 280,000   5.500% (SOFRRATE + 4.416%) due 9/15/79(b)   233,365 
 750,000   5.600% (5-Year CMT Index + 3.986%) due 3/7/82(b)   604,081 
     Total Canada   22,574,894 
Cayman Islands - 0.7%     
 1,024,161   Bioceanico Sovereign Certificate Ltd., Senior Secured Notes, zero coupon, due 6/5/34   726,617 
 500,000   Cosan Overseas Ltd., Company Guaranteed Notes, 8.250% (e)   494,411 
 98,552   Interoceanica IV Finance Ltd., Senior Secured Notes, zero coupon, due 11/30/25   86,533 
 599,724   Lima Metro Line 2 Finance Ltd., Senior Secured Notes, 5.875% due 7/5/34   583,710 

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

 

Face
Amount/Units†		   Security  Value 
Cayman Islands - 0.7% - (continued)  
$3,973,000   Sable International Finance Ltd., Senior Secured Notes, 5.750% due 9/7/27  $3,652,568 
     Total Cayman Islands   5,543,839 
Chile - 2.5%       
     AES Andes SA, Junior Subordinated Notes:     
 800,000   7.125% (5-Year USD Swap Rate + 4.644%) due 3/26/79(a)(b)   755,022 
 1,000,000   7.125% (5-Year USD Swap Rate + 4.644%) due 3/26/79(b)   943,778 
 600,000   6.350% (5-Year CMT Index + 4.917%) due 10/7/79(b)   557,114 
 2,850,000   Agrosuper SA, Senior Unsecured Notes, 4.600% due 1/20/32   2,348,990 
 6,600,000   CAP SA, Senior Unsecured Notes, 3.900% due 4/27/31   4,825,118 
 600,000   Cencosud SA, Company Guaranteed Notes, 5.150% due 2/12/25   590,531 
 3,400,000   Chile Electricity PEC SpA, Senior Secured Notes, zero coupon, due 1/25/28(a)   2,626,285 
 575,034   Empresa Electrica Angamos SA, Senior Secured Notes, 4.875% due 5/25/29   517,531 
 1,782,620   Empresa Electrica Cochrane SpA, Senior Secured Notes, 5.500% due 5/14/27   1,659,860 
 3,300,000   Enel Generacion Chile SA, Senior Unsecured Notes, 4.250% due 4/15/24   3,261,064 
 2,118,000   GNL Quintero SA, Senior Unsecured Notes, 4.634% due 7/31/29   2,056,745 
 1,803,000   VTR Comunicaciones SpA, Senior Secured Notes, 5.125% due 1/15/28   716,496 
     Total Chile   20,858,534 
Colombia - 2.6%     
 250,000   Banco GNB Sudameris SA, Subordinated Notes, 7.051% (5-Year CMT Index + 4.561%) due 4/3/27(b)   237,271 
 7,850,000   Bancolombia SA, Subordinated Notes, 4.625% (5-Year CMT Index + 2.944%) due 12/18/29(b)   7,109,184 
     Ecopetrol SA, Senior Unsecured Notes:     
 1,700,000   4.125% due 1/16/25   1,650,655 
 4,000,000   6.875% due 4/29/30   3,810,655 
     Empresas Publicas de Medellin ESP, Senior Unsecured Notes:     
 3,505,000   4.250% due 7/18/29   2,892,615 
 3,867,000   4.375% due 2/15/31   3,000,235 
 728,000   Fideicomiso PA Pacifico Tres, Senior Secured Notes, 8.250% due 1/15/35   660,296 
 1,450,000   Grupo de Inversiones Suramericana SA, Senior Unsecured Notes, 5.500% due 4/29/26   1,385,629 
 1,000,000   Oleoducto Central SA, Senior Unsecured Notes, 4.000% due 7/14/27   907,313 
     Total Colombia   21,653,853 
Denmark - 0.1%    
 1,100,000EUR  Skill Bidco ApS, Senior Secured Notes, 10.714% (3-Month EURIBOR + 6.750%) due 3/2/28(b)   1,188,479 
France - 0.6%     
     BNP Paribas SA, Junior Subordinated Notes:     
 675,000   7.750% (5-Year CMT Index + 4.899%) (a)(b)(e)   664,081 
 295,000   8.500% (5-Year CMT Index + 4.354%) (a)(b)(e)   299,382 
 595,000   9.250% (5-Year CMT Index + 4.969%) (a)(b)(e)   624,677 
 1,000,000   Credit Agricole SA, Junior Subordinated Notes, 8.125% (5-Year USD Swap Rate + 6.185%) (a)(b)(e)   1,002,500 
     Societe Generale SA, Junior Subordinated Notes:     
 450,000   6.750% (5-Year USD Swap Rate + 3.929%) (a)(b)(e)   378,840 
 1,275,000   9.375% (5-Year CMT Index + 5.385%) (a)(b)(e)   1,276,003 
 275,000   10.000% (5-Year CMT Index + 5.448%) (a)(b)(e)   282,613 
     Total France   4,528,096 
Germany - 1.6%    
 2,773,000EUR  DEAG Deutsche Entertainment AG, Senior Unsecured Notes, 8.000% due 7/12/26   3,099,890 
 1,400,000   Deutsche Bank AG, Junior Subordinated Notes, 6.000% (5-Year CMT Index + 4.524%) (b)(e)   1,225,210 

  

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

 

Face
Amount/Units†		   Security  Value 
Germany - 1.6% - (continued)    
$2,581,151EUR   Lifefit Group Midco GmbH, Senior Secured Notes, 11.475% (3-Month EURIBOR + 7.500%) due 1/26/25(f)  $2,842,154 
 3,770,000EUR   LR Global Holding GmbH, Senior Secured Notes, 11.205% (3-Month EURIBOR + 7.250%) due 2/3/25(b)   3,960,381 
 1,487,000EUR   Secop Group Holding GmbH, Senior Secured Notes, 12.372% (3-Month EURIBOR + 8.400%) due 12/29/26(b)   1,634,936 
     Total Germany   12,762,571 
Guatemala - 0.7%     
 2,000,000   Banco Industrial SA, Subordinated Notes, 4.875% (5-Year CMT Index + 4.442%) due 1/29/31(b)   1,845,200 
 4,700,000   CT Trust, Senior Secured Notes, 5.125% due 2/3/32   3,904,758 
     Total Guatemala   5,749,958 
India - 2.2%     
     Adani Electricity Mumbai Ltd., Senior Secured Notes:     
 2,703,000   3.949% due 2/12/30   2,118,499 
 1,700,000   3.867% due 7/22/31   1,224,315 
 1,464,375   Adani International Container Terminal Pvt Ltd., Senior Secured Notes, 3.000% due 2/16/31   1,175,161 
     Adani Ports & Special Economic Zone Ltd., Senior Unsecured Notes:     
 3,100,000   4.000% due 7/30/27   2,667,410 
 800,000   4.200% due 8/4/27   692,000 
 1,200,000   3.828% due 2/2/32   868,517 
     Adani Transmission Step-One Ltd., Senior Secured Notes:     
 2,100,000   4.000% due 8/3/26   1,870,733 
 2,904,500   4.250% due 5/21/36   2,181,286 
 1,449,000   JSW Hydro Energy Ltd., Senior Secured Notes, 4.125% due 5/18/31   1,228,753 
 4,100,000   Reliance Industries Ltd., Senior Unsecured Notes, 4.125% due 1/28/25   4,024,126 
     Total India   18,050,800 
Indonesia - 1.8%     
     Freeport Indonesia PT, Senior Unsecured Notes:     
 2,900,000   4.763% due 4/14/27   2,817,238 
 500,000   4.763% due 4/14/27(a)   485,731 
 2,800,000   5.315% due 4/14/32   2,644,198 
 3,500,000   Indonesia Asahan Aluminium PT/Mineral Industri Indonesia Persero PT, Senior Unsecured Notes, 4.750% due 5/15/25   3,430,000 
 4,500,000   Pertamina Persero PT, Senior Unsecured Notes, 1.400% due 2/9/26   4,106,877 
 1,200,000   Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, Senior Unsecured Notes, 4.125% due 5/15/27   1,152,000 
     Total Indonesia   14,636,044 
Isle of Man - 0.0%     
 205,000   AngloGold Ashanti Holdings PLC, Company Guaranteed Notes, 3.750% due 10/1/30   172,633 
Israel - 0.9%     
 5,000,000   Bank Hapoalim BM, Subordinated Notes, 3.255% (5-Year CMT Index + 2.155%) due 1/21/32(a)(b)   4,243,230 
 3,500,000   Bank Leumi Le-Israel BM, Subordinated Notes, 3.275% (5-Year CMT Index + 1.631%) due 1/29/31(a)(b)   3,115,000 
     Total Israel   7,358,230 
Italy - 1.1%       
 485,000   Intesa Sanpaolo SpA, Company Guaranteed Notes, 7.700% (5-Year USD Swap Rate + 5.462%) (a)(b)(e)   466,002 

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

 

Face
Amount/Units†		   Security  Value 
Italy - 1.1% - (continued)    
$7,956,000EUR   Opnet SpA, Senior Secured Notes, 10.972% (3-Month EURIBOR + 6.250%) due 2/9/26(a)(b)(c)   $8,660,901 
     Total Italy    9,126,903 
Luxembourg - 3.9%  
     Cosan Luxembourg SA, Company Guaranteed Notes:     
 673,000   7.000% due 1/20/27    676,698 
 5,100,000   7.500% due 6/27/30(a)    5,156,615 
 4,350,000   CSN Resources SA, Company Guaranteed Notes, 5.875% due 4/8/32    3,601,904 
 2,918,058   Guara Norte SARL, Senior Secured Notes, 5.198% due 6/15/34    2,573,031 
 2,384,709   MC Brazil Downstream Trading SARL, Senior Secured Notes, 7.250% due 6/30/31    1,818,651 
     Millicom International Cellular SA, Senior Unsecured Notes:     
 2,277,900   6.625% due 10/15/26    2,205,531 
 2,565,000   5.125% due 1/15/28    2,316,599 
 900,000   6.250% due 3/25/29    831,762 
     Minerva Luxembourg SA, Company Guaranteed Notes:     
 3,500,000   4.375% due 3/18/31    2,769,816 
 1,000,000   8.875% due 9/13/33    1,008,400 
 1,200,000   8.875% due 9/13/33(a)    1,210,080 
 1,000,000   Movida Europe SA, Company Guaranteed Notes, 5.250% due 2/8/31    842,822 
 2,600,000   Nexa Resources SA, Company Guaranteed Notes, 5.375% due 5/4/27    2,450,386 
 3,413,000   Puffin Finance SARL, Senior Secured Notes, 15.000% due 9/11/25    3,481,260 
 850,000   Rumo Luxembourg SARL, Company Guaranteed Notes, 4.200% due 1/18/32    692,750 
 750,000   Simpar Europe SA, Company Guaranteed Notes, 5.200% due 1/26/31    624,375 
     Total Luxembourg    32,260,680 
Malaysia - 0.9%  
 1,250,000   Axiata SPV2 Bhd, Senior Unsecured Notes, 4.357% due 3/24/26    1,220,158 
 6,200,000   TNB Global Ventures Capital Bhd, Senior Unsecured Notes, 3.244% due 10/19/26    5,829,729 
     Total Malaysia    7,049,887 
Mauritius - 0.5% 
 2,500,000   Network i2i Ltd., Company Guaranteed Notes, 5.650% (5-Year CMT Index + 4.274%) (b)(e)    2,460,925 
 2,200,000   UPL Corp., Ltd., Company Guaranteed Notes, 4.500% due 3/8/28    1,877,051 
     Total Mauritius    4,337,976 
Mexico - 3.8%     
     Banco Mercantil del Norte SA, Junior Subordinated Notes:     
 6,722,000   5.875% (5-Year CMT Index + 4.643%) (b)(e)    6,075,324 
 900,000   6.625% (5-Year CMT Index + 5.034%) (b)(e)    746,550 
 257,000   7.500% (5-Year CMT Index + 5.470%) (b)(e)    234,596 
 4,300,000   Banco Nacional de Comercio Exterior SNC, Subordinated Notes, 2.720% (5-Year CMT Index + 2.000%) due 8/11/31(b)    3,617,180 
 1,000,000   Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand, Subordinated Notes, 7.525% (5-Year CMT Index + 2.995%) due 10/1/28(b)    1,008,345 
     BBVA Bancomer SA, Subordinated Notes:     
 1,230,000   5.125% (5-Year CMT Index + 2.650%) due 1/18/33(b)    1,106,592 
 7,298,000   5.875% (5-Year CMT Index + 4.308%) due 9/13/34(b)    6,559,626 
 400,000   8.450% (5-Year CMT Index + 4.661%) due 6/29/38(b)    401,135 
 6,800,000   Cemex SAB de CV, Subordinated Notes, 5.125% (5-Year CMT Index + 4.534%) (b)(e)    6,377,735 
 1,900,000   Industrias Penoles SAB de CV, Senior Unsecured Notes, 4.150% due 9/12/29    1,731,269 
 1,915,543   Mexico Generadora de Energia S de rl, Senior Secured Notes, 5.500% due 12/6/32    1,827,150 
 3,300,000   Petroleos Mexicanos, Company Guaranteed Notes, 6.750% due 9/21/47    2,019,353 
     Total Mexico    31,704,855 

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

 

Face
Amount/Units†		   Security  Value 
Multinational - 0.8%
$4,293,000   Connect Finco SARL/Connect US Finco LLC, Senior Secured Notes, 6.750% due 10/1/26(a)   $4,120,668 
     JBS USA LUX SA/JBS USA Food Co./JBS USA Finance Inc., Company Guaranteed Notes:     
 1,700,000   3.000% due 2/2/29    1,453,236 
 1,000,000   3.750% due 12/1/31    828,631 
     Total Multinational    6,402,535 
Netherlands - 4.1% 
 1,755,000   AerCap Holdings NV, Company Guaranteed Notes, 5.875% (5-Year CMT Index + 4.535%) due 10/10/79(b)    1,695,958 
 3,699,000EUR   Azerion Group NV, Senior Secured Notes, 10.705% (3-Month EURIBOR + 6.750%) due 10/2/26(b)    3,956,263 
     Braskem Netherlands Finance BV, Company Guaranteed Notes:     
 4,200,000   7.250% due 2/13/33    3,842,192 
 2,300,000   8.500% (5-Year CMT Index + 8.220%) due 1/23/81(b)    2,265,615 
 5,878,000   Clear Channel International BV, Senior Secured Notes, 6.625% due 8/1/25(a)    5,786,698 
     ING Groep NV, Junior Subordinated Notes:     
 735,000   5.750% (5-Year CMT Index + 4.342%) (b)(e)    664,718 
 400,000   6.500% (5-Year USD Swap Rate + 4.446%) (b)(e)    384,248 
 200,000   7.500% (5-Year CMT Index + 3.711%) (b)(e)    187,750 
     Minejesa Capital BV, Senior Secured Notes:     
 6,200,000   4.625% due 8/10/30    5,758,250 
 1,700,000   5.625% due 8/10/37    1,385,577 
 2,536,298   Mong Duong Finance Holdings BV, Senior Secured Notes, 5.125% due 5/7/29    2,327,881 
 5,518,473   MV24 Capital BV, Senior Secured Notes, 6.748% due 6/1/34    4,968,660 
 1,600,000   VTR Finance NV, Senior Unsecured Notes, 6.375% due 7/15/28    266,923 
     Total Netherlands    33,490,733 
Norway - 2.2%    
 14,500,000NOK   Aker Horizons ASA, Senior Unsecured Notes, 8.020% (3-Month NIBOR + 3.250%) due 8/15/25(b)    1,279,426 
 29,500,000NOK   Austevoll Seafood ASA, Senior Unsecured Notes, 6.710% (3-Month NIBOR + 2.000%) due 6/21/28(b)    2,725,601 
 32,000,000NOK   Bulk Infrastructure Holding AS, Senior Unsecured Notes, 9.210% (3-Month NIBOR + 4.500%) due 10/15/24(b)    2,963,976 
 4,933,000NOK   Duett Software Group AS, Senior Secured Notes, 9.750% (3-Month NIBOR + 5.000%) due 4/12/26(b)    443,242 
 8,120,000EUR   Fiven ASA, Senior Secured Notes, 10.669% (3-Month EURIBOR + 6.850%) due 12/11/26(b)(c)    8,883,629 
 3,900,000NOK   Kistefos AS, Senior Unsecured Notes, 9.770% (3-Month NIBOR + 5.000%) due 9/13/28(b)    347,722 
 1,200,000EUR   LINK Mobility Group Holding ASA, Senior Unsecured Notes, 3.375% due 12/15/25    1,241,004 
 209,998   Mime Petroleum AS, Subordinated Notes, zero coupon, due 3/21/83    62,999 
     Total Norway    17,947,599 
Panama - 0.3%    
 2,000,000   Global Bank Corp., Senior Unsecured Notes, 5.250% (3-Month USD-LIBOR + 3.300%) due 4/16/29(b)    1,774,520 
 900,000   Multibank Inc., Senior Unsecured Notes, 7.750% due 2/3/28(a)    885,618 
     Total Panama    2,660,138 
Paraguay - 0.1%  
 1,200,000   Frigorifico Concepcion SA, Senior Secured Notes, 7.700% due 7/21/28    976,649 

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

 

Face
Amount/Units†		   Security  Value 
Peru - 3.4%     
     Banco de Credito del Peru SA, Subordinated Notes:     
$1,900,000   3.125% (5-Year CMT Index + 3.000%) due 7/1/30(b)   $1,783,478 
 2,800,000   3.250% (5-Year CMT Index + 2.450%) due 9/30/31(a)(b)    2,490,754 
 1,950,000   3.250% (5-Year CMT Index + 2.450%) due 9/30/31(b)    1,734,632 
     Banco Internacional del Peru SAA Interbank, Subordinated Notes:     
 2,950,000   6.625% (3-Month USD-LIBOR + 5.760%) due 3/19/29(b)    2,938,364 
 4,392,000   4.000% (5-Year CMT Index + 3.711%) due 7/8/30(b)    4,101,030 
 750,000   Camposol SA, Company Guaranteed Notes, 6.000% due 2/3/27    463,657 
 2,500,000   Compania de Minas Buenaventura SAA, Company Guaranteed Notes, 5.500% due 7/23/26    2,306,786 
 3,257,059   Fenix Power Peru SA, Senior Unsecured Notes, 4.317% due 9/20/27    2,996,606 
     Kallpa Generacion SA:     
 300,000   Company Guaranteed Notes, 4.125% due 8/16/27    280,160 
 2,700,000   Senior Unsecured Notes, 4.875% due 5/24/26    2,610,072 
 2,400,000   Orazul Energy Peru SA, Company Guaranteed Notes, 5.625% due 4/28/27    2,208,000 
 4,300,000   Petroleos del Peru SA, Senior Unsecured Notes, 5.625% due 6/19/47    2,557,427 
 2,000,000   Transportadora de Gas del Peru SA, Senior Unsecured Notes, 4.250% due 4/30/28    1,937,963 
     Total Peru    28,408,929 
Portugal - 0.0%     
 70,068   Invepar, zero coupon, due 12/30/28(c)(g)    – 
Singapore - 3.2%     
 6,000,000   DBS Group Holdings Ltd., Subordinated Notes, 1.822% (5-Year CMT Index + 1.100%) due 3/10/31(b)    5,497,056 
 6,597,720   LLPL Capital Pte Ltd., Senior Secured Notes, 6.875% due 2/4/39    6,151,709 
 2,350,000   ONGC Videsh Vankorneft Pte Ltd., Company Guaranteed Notes, 3.750% due 7/27/26    2,243,718 
     Oversea-Chinese Banking Corp., Ltd., Subordinated Notes:      
 4,400,000   1.832% (5-Year CMT Index + 1.580%) due 9/10/30(b)    4,093,987 
 2,300,000   1.832% (5-Year CMT Index + 1.580%) due 9/10/30(a)(b)    2,140,038 
 6,400,000   United Overseas Bank Ltd., Subordinated Notes, 1.750% (5-Year CMT Index + 1.520%) due 3/16/31(b)    5,836,694 
     Total Singapore    25,963,202 
South Korea - 2.4%    
     Korea East-West Power Co., Ltd., Senior Unsecured Notes:      
 2,700,000   1.750% due 5/6/25    2,560,382 
 2,200,000   1.750% due 5/6/25(a)    2,086,238 
 4,300,000   Korea Southern Power Co., Ltd., Senior Unsecured Notes, 0.750% due 1/27/26(a)    3,899,046 
     KT Corp., Senior Unsecured Notes:     
 7,300,000   1.000% due 9/1/25    6,762,476 
 400,000   2.500% due 7/18/26    371,895 
 3,900,000   LG Chem Ltd., Senior Unsecured Notes, 3.250% due 10/15/24    3,816,245 
     Total South Korea    19,496,282 
Spain - 1.0%  
     AI Candelaria Spain SA, Senior Secured Notes:     
 4,401,650   7.500% due 12/15/28    4,126,546 
 2,300,000   5.750% due 6/15/33    1,705,910 
     Banco Bilbao Vizcaya Argentaria SA, Junior Subordinated Notes:     
 800,000   6.125% (5-Year USD Swap Rate + 3.870%) (b)(e)    678,933 
 200,000   9.375% (5-Year CMT Index + 5.099%) (b)(e)    203,545 
     Banco Santander SA, Junior Subordinated Notes:     
 1,400,000   4.750% (5-Year CMT Index + 3.753%) (b)(e)    1,090,798 
 200,000   7.500% (5-Year USD 1100 Run ICE Swap Rate + 4.989%) (b)(e)    198,335 
     Total Spain    8,004,067 

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

 

Face
Amount/Units†		   Security  Value 
Sweden - 1.0%     
$20,000,000SEK   Esmaeilzadeh Holding AB, Senior Unsecured Notes, 11.594% due 1/26/25(b)   $1,740,680 
 22,500,000SEK   Novedo Holding AB, Senior Secured Notes, 10.647% (3-Month SEK-STIBOR + 8.000%) due 11/26/24(b)    1,965,547 
 16,250,000SEK   Rebellion Operations AB, Senior Secured Notes, 12.126% (3-Month SEK-STIBOR + 8.000%)  due 5/20/25(b)    1,407,998 
 37,500,000SEK   Stockwik Forvaltning AB, Senior Secured Notes, 12.106% (3-Month SEK-STIBOR + 8.000%) due 3/20/26(b)    3,249,134 
     Total Sweden    8,363,359 
Switzerland - 0.2%     
 635,000   Credit Suisse Group AG, Junior Subordinated Notes, 9.750% (5-Year CMT Index + 6.383%) (a)(e)    69,850 
     UBS Group AG, Junior Subordinated Notes:     
 1,180,000   6.875% (5-Year USD Swap Rate + 4.590%) (b)(e)    1,134,263 
 300,000   7.000% (5-Year USD Swap Rate + 4.344%) (a)(b)(e)    298,591 
 200,000   9.250% (5-Year CMT Index + 4.745%) (a)(b)(e)    208,956 
     Total Switzerland    1,711,660 
United Kingdom - 1.5% 
     Barclays PLC, Junior Subordinated Notes:     
 360,000   6.125% (5-Year CMT Index + 5.867%) (b)(e)    333,891 
 1,500,000   8.000% (5-Year CMT Index + 5.431%) (b)(e)    1,399,670 
     HSBC Holdings PLC, Junior Subordinated Notes:     
 450,000   6.375% (5-Year USD 1100 Run ICE Swap Rate + 4.368%) (b)(e)    433,896 
 2,355,000   8.000% (5-Year CMT Index + 3.858%) (b)(e)    2,373,565 
 12,500,000SEK   Impala BondCo PLC, Senior Secured Notes, 13.087% (3-Month SEK-STIBOR + 9.000%) due 10/20/24(b)    797,406 
     Lloyds Banking Group PLC, Junior Subordinated Notes:     
 1,000,000   7.500% (5-Year USD 1100 Run ICE Swap Rate + 4.496%) (b)(e)    963,655 
 600,000   8.000% (5-Year CMT Index + 3.913%) (b)(e)    568,247 
 4,400,000   MARB BondCo PLC, Company Guaranteed Notes, 3.950% due 1/29/31    3,397,108 
     NatWest Group PLC, Junior Subordinated Notes:     
 600,000   6.000% (5-Year CMT Index + 5.625%) (b)(e)    569,908 
 470,000   8.000% (5-Year USD Swap Rate + 5.720%) (b)(e)    466,146 
 240,000   Standard Chartered PLC, Junior Subordinated Notes, 6.000% (5-Year CMT Index + 5.661%) (a)(b)(e)    231,338 
 200,000   Vedanta Resources Ltd., Senior Unsecured Notes, 6.125% due 8/9/24    125,763 
     Vodafone Group PLC, Junior Subordinated Notes:     
 685,000   7.000% (5-Year USD Swap Rate + 4.873%) due 4/4/79(b)    691,861 
 250,000   4.125% (5-Year CMT Index + 2.767%) due 6/4/81(b)    200,977 
     Total United Kingdom    12,553,431 
United States - 22.4%  
 7,321,000   99 Escrow Issuer Inc., Senior Secured Notes, 7.500% due 1/15/26(a)    2,525,745 
 820,000   AerCap Global Aviation Trust, Company Guaranteed Notes, 6.500% (3-Month TSFR + 4.562%) due 6/15/45(a)(b)    819,706 
 580,000   Air Lease Corp., Junior Subordinated Notes, 4.650% (5-Year CMT Index + 4.076%) (b)(e)    495,964 
 915,000   Ally Financial Inc., Junior Subordinated Notes, 4.700% (5-Year CMT Index + 3.481%) (b)(e)    610,527 
 2,561,000   AMC Networks Inc., Company Guaranteed Notes, 5.000% due 4/1/24    2,558,435 
 250,000   American AgCredit Corp., Junior Subordinated Notes, 5.250% (5-Year CMT Index + 4.500%) (a)(b)(e)    231,250 
 160,000   American Electric Power Co., Inc., Junior Subordinated Notes, 3.875% (5-Year CMT Index + 2.675%) due 2/15/62(b)    131,575 

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

 

Face
Amount/Units†		   Security  Value 
United States - 22.4% - (continued)    
$465,000   American Express Co., Junior Subordinated Notes, 3.550% (5-Year CMT Index + 2.854%) (b)(e)   $392,009 
 1,938,000   American Greetings Corp., Company Guaranteed Notes, 8.750% due 4/15/25(a)    1,918,620 
 160,000   American International Group Inc., Junior Subordinated Notes, 5.750% (3-Month USD-LIBOR + 2.868%) due 4/1/48(b)    149,822 
 1,200,000   Assurant Inc., Subordinated Notes, 7.000% (3-Month USD-LIBOR + 4.135%) due 3/27/48(b)    1,193,576 
 969,000   Assured Guaranty Municipal Holdings Inc., Company Guaranteed Notes, 6.400% (1-Month USD-LIBOR + 2.215%) due 12/15/66(a)(b)    838,185 
 311,000   AXIS Specialty Finance LLC, Company Guaranteed Notes, 4.900% (5-Year CMT Index + 3.186%) due 1/15/40(b)    255,235 
     Bank of America Corp., Junior Subordinated Notes:     
 355,000   4.375% (5-Year CMT Index + 2.760%) (b)(e)    307,173 
 200,000   6.100% (3-Month TSFR + 4.160%) (b)(e)    197,647 
 580,000   6.250% (3-Month TSFR + 3.967%) (b)(e)    572,082 
 1,300,000   6.300% (3-Month TSFR + 4.815%) (b)(e)    1,289,525 
 640,000   6.500% (3-Month TSFR + 4.436%) (b)(e)    634,396 
 500,000   Bank of New York Mellon Corp., Junior Subordinated Notes, 4.700% (5-Year CMT Index + 4.358%) (b)(e)   487,594 
 133,000   Briggs & Stratton Corp., Senior Unsecured Notes, 6.875% due 12/15/23(c)(d)    – 
 9,250,000   BuzzFeed Inc., Company Guaranteed Notes, 8.500% due 12/3/26(a)    6,660,000 
 280,000   Capital Farm Credit ACA, Junior Subordinated Notes, 5.000% (5-Year CMT Index + 4.523%) (a)(b)(e)    254,800 
 685,000   Capital One Financial Corp., Junior Subordinated Notes, 3.950% (5-Year CMT Index + 3.157%) (b)(e)    517,917 
     Charles Schwab Corp., Junior Subordinated Notes:     
 610,000   4.000% (5-Year CMT Index + 3.168%) (b)(e)    525,152 
 1,000,000   5.375% (5-Year CMT Index + 4.971%) (b)(e)    966,233 
 731,000   Chobani LLC/Chobani Finance Corp., Inc., Company Guaranteed Notes, 7.500% due 4/15/25(a)    722,724 
     Citigroup Inc., Junior Subordinated Notes:     
 265,000   4.150% (5-Year CMT Index + 3.000%) (b)(e)    218,900 
 400,000   5.000% (SOFRRATE + 3.813%) (b)(e)    385,294 
 1,104,000   5.950% (3-Month TSFR + 4.167%) (b)(e)    1,066,217 
 1,225,000   6.250% (3-Month TSFR + 4.779%) (b)(e)    1,189,647 
 280,000   7.375% (5-Year CMT Index + 3.209%) (b)(e)    276,892 
 1,155,000   7.625% (5-Year CMT Index + 3.211%) (b)(e)    1,148,706 
     Citizens Financial Group Inc., Junior Subordinated Notes:     
 460,000   4.000% (5-Year CMT Index + 3.215%) (b)(e)    349,055 
 100,000   6.375% (3-Month TSFR + 3.419%) (b)(e)    85,549 
 215,000   CMS Energy Corp., Junior Subordinated Notes, 4.750% (5-Year CMT Index + 4.116%) due 6/1/50(b)    185,694 
     CoBank ACB, Junior Subordinated Notes:     
 1,075,000   6.250% (3-Month USD-LIBOR + 4.660%) (b)(e)    1,020,992 
 460,000   6.450% (5-Year CMT Index + 3.487%) (b)(e)    435,336 
 650,000   Compeer Financial ACA, Junior Subordinated Notes, 4.875% (5-Year CMT Index + 4.095%) (a)(b)(c)(e)    598,000 
 510,000   Dairy Farmers of America Inc., Junior Subordinated Notes, 7.125% (a)(e)    461,550 
     Discover Financial Services, Junior Subordinated Notes:     
 125,000   5.500% (3-Month TSFR + 3.338%) (b)(e)    86,976 
 250,000   6.125% (5-Year CMT Index + 5.783%) (b)(e)    231,990 
     Edison International, Junior Subordinated Notes:     
 245,000   5.000% (5-Year CMT Index + 3.901%) (b)(e)    224,068 
 300,000   5.375% (5-Year CMT Index + 4.698%) (b)(e)    277,427 

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

 

Face
Amount/Units†		   Security  Value 
United States - 22.4% - (continued)     
     Energy Transfer LP, Junior Subordinated Notes:     
$660,000   6.500% (5-Year CMT Index + 5.694%) (b)(e)   $618,018 
 44,000   7.125% (5-Year CMT Index + 5.306%) (b)(e)    38,961 
 360,000   Enstar Finance LLC, Company Guaranteed Notes, 5.500% (5-Year CMT Index + 4.006%) due 1/15/42(b)    295,584 
 615,000   Equitable Holdings Inc., Junior Subordinated Notes, 4.950% (5-Year CMT Index + 4.736%) (b)(e)    579,657 
 705,000   Fifth Third Bancorp, Junior Subordinated Notes, 4.500% (5-Year CMT Index + 4.215%) (b)(e)    635,536 
 400,000   First Citizens BancShares Inc., Junior Subordinated Notes, 9.643% (3-Month TSFR + 4.234%) (b)(e)    404,769 
 2,838,000   Five Point Operating Co. LP/Five Point Capital Corp., Company Guaranteed Notes, 7.875% due 11/15/25(a)    2,716,749 
     Freeport-McMoRan Inc., Company Guaranteed Notes:     
 3,000,000   5.000% due 9/1/27    2,931,060 
 2,700,000   4.125% due 3/1/28    2,529,954 
 6,379,000   Gap Inc., Company Guaranteed Notes, 3.875% due 10/1/31(a)    5,038,361 
     General Motors Financial Co., Inc., Junior Subordinated Notes:     
 1,105,000   5.700% (5-Year CMT Index + 4.997%) (b)(e)    968,723 
 855,000   5.750% (3-Month USD-LIBOR + 3.598%) (b)(e)    716,062 
 3,753,000   Getty Images Inc., Company Guaranteed Notes, 9.750% due 3/1/27(a)    3,757,507 
     Goldman Sachs Group Inc., Junior Subordinated Notes:     
 395,000   4.125% (5-Year CMT Index + 2.949%) (b)(e)    333,256 
 905,000   5.300% (3-Month TSFR + 4.096%) (b)(e)    861,174 
 809,000   5.500% (5-Year CMT Index + 3.623%) (b)(e)    797,702 
 980,000   7.500% (5-Year CMT Index + 3.156%) (b)(e)    994,261 
 245,000   8.505% (3-Month TSFR + 3.136%) (b)(e)    242,577 
 3,220,000   Gran Tierra Energy Inc., Senior Secured Notes, 9.500% due 10/15/29(a)    2,761,150 
 1,500,000   Hawaii Electric Light Co., Inc., 3.280% due 12/30/40(c)(g)    855,000 
 7,548,459   Hawaiian Airlines 2013-1 Class A Pass-Through Certificates, Pass Thru Certificates, 3.900% due 1/15/26    6,448,125 
 2,435,000   Hughes Satellite Systems Corp., Senior Secured Notes, 5.250% due 8/1/26    2,079,083 
 1,000,000   Huntington Bancshares Inc., Junior Subordinated Notes, 5.625% (5-Year CMT Index + 4.945%) (b)(e)    873,055 
     Icahn Enterprises LP/Icahn Enterprises Finance Corp., Company Guaranteed Notes:     
 2,226,000   4.750% due 9/15/24    2,184,528 
 3,193,000   6.375% due 12/15/25    3,081,326 
 1,000,000   6.250% due 5/15/26    944,191 
 11,715,000   IEA Energy Services LLC, Company Guaranteed Notes, 6.625% due 8/15/29(a)    11,041,838 
 250,000   ILFC E-Capital Trust II, Limited Guaranteed Notes, 7.459% (3-Month TSFR + 2.062%) due 12/21/65(a)(b)   191,110 
 10,882,000   INNOVATE Corp., Senior Secured Notes, 8.500% due 2/1/26(a)(h)    8,271,164 
     JPMorgan Chase & Co., Junior Subordinated Notes:     
 1,565,000   3.650% (5-Year CMT Index + 2.850%) (b)(e)    1,408,889 
 500,000   5.000% (3-Month TSFR + 3.380%) (b)(e)    492,309 
 200,000   6.100% (3-Month TSFR + 3.592%) (b)(e)    198,961 
 1,355,000   6.750% (3-Month TSFR + 4.042%) (b)(e)    1,354,868 
 280,000   KeyCorp, Junior Subordinated Notes, 5.000% (3-Month TSFR + 3.868%) (b)(e)    216,696 
 1,655,000   Land O' Lakes Inc., Junior Subordinated Notes, 7.250% (a)(e)    1,290,900 
 7,109,000   Leafly Holdings Inc., Senior Unsecured Notes, 8.000% due 1/31/25(c)(g)    6,042,650 
     M&T Bank Corp., Junior Subordinated Notes:     
 170,000   3.500% (5-Year CMT Index + 2.679%) (b)(e)    121,229 
 655,000   5.125% (3-Month USD-LIBOR + 3.520%) (b)(e)    527,996 

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

 

Face
Amount/Units†		   Security  Value 
United States - 22.4% - (continued)     
$825,000   Markel Group Inc., Junior Subordinated Notes, 6.000% (5-Year CMT Index + 5.662%) (b)(e)   $806,758 
     Mercury Chile Holdco LLC, Senior Secured Notes:      
 700,000   6.500% due 1/24/27    637,868 
 1,000,000   6.500% due 1/24/27(a)    911,240 
     MetLife Inc., Junior Subordinated Notes:     
 300,000   3.850% (5-Year CMT Index + 3.576%) (b)(e)    282,439 
 885,000   5.875% (3-Month TSFR + 3.221%) (b)(e)    838,653 
 5,913,000   NGL Energy Operating LLC/NGL Energy Finance Corp., Senior Secured Notes, 7.500% due 2/1/26(a)    5,935,215 
 330,000   Paramount Global, Junior Subordinated Notes, 6.375% (5-Year CMT Index + 3.999%) due 3/30/62(b)    265,650 
 195,000   PartnerRe Finance B LLC, Company Guaranteed Notes, 4.500% (5-Year CMT Index + 3.815%) due 10/1/50(b)    162,490 
     PNC Financial Services Group Inc., Junior Subordinated Notes:     
 447,000   5.000% (3-Month TSFR + 3.562%) (b)(e)    390,395 
 500,000   6.000% (5-Year CMT Index + 3.000%) (b)(e)    447,959 
 400,000   6.200% (5-Year CMT Index + 3.238%) (b)(e)    377,773 
 865,000   6.250% (5-Year CMT Index + 2.808%) (b)(e)    754,283 
 400,000   8.679% (3-Month TSFR + 3.302%) (b)(e)    397,993 
 3,551,174   ProSomnus Holdings Inc., 9.000% due 4/6/26(c)(g)    3,052,035 
 330,000   Provident Financing Trust I, Limited Guaranteed Notes, 7.405% due 3/15/38    331,172 
 895,000   Prudential Financial Inc., Junior Subordinated Notes, 5.125% (5-Year CMT Index + 3.162%) due 3/1/52(b)    795,081 
 400,000   Regions Financial Corp., Junior Subordinated Notes, 5.750% (5-Year CMT Index + 5.430%) (b)(e)    377,646 
     Sasol Financing USA LLC, Company Guaranteed Notes:     
 2,700,000   4.375% due 9/18/26    2,453,020 
 2,000,000   5.500% due 3/18/31    1,629,944 
     SBL Holdings Inc., Junior Subordinated Notes:     
 1,195,000   6.500% (5-Year CMT Index + 5.620%) (a)(b)(e)    717,221 
 845,000   7.000% (5-Year CMT Index + 5.580%) (a)(b)(e)    535,529 
     Sempra, Junior Subordinated Notes:     
 510,000   4.875% (5-Year CMT Index + 4.550%) (b)(e)    488,668 
 230,000   4.125% (5-Year CMT Index + 2.868%) due 4/1/52(b)    186,394 
 520,000   Southern Co., Junior Subordinated Notes, 4.000% (5-Year CMT Index + 3.733%) due 1/15/51(b)    486,783 
 8,135,000   StoneX Group Inc., Senior Secured Notes, 8.625% due 6/15/25(a)    8,178,010 
 10,500,000   Summit Midstream Holdings LLC/Summit Midstream Finance Corp., Secured Notes, 9.000% due 10/15/26(a)    10,435,268 
 8,518,000   TPC Group Inc., Senior Secured Notes, 13.000% due 12/16/27(a)    8,621,471 
     Truist Financial Corp., Junior Subordinated Notes:     
 810,000   4.800% (5-Year CMT Index + 3.003%) (b)(e)    715,597 
 1,655,000   5.100% (5-Year CMT Index + 4.349%) (b)(e)    1,423,300 
 275,000   8.773% (3-Month TSFR + 3.364%) (b)(e)    266,596 
 3,246,000   Uber Technologies Inc., Company Guaranteed Notes, 8.000% due 11/1/26(a)    3,299,471 
 975,000   United Natural Foods Inc., Company Guaranteed Notes, 6.750% due 10/15/28(a)    747,055 
 7,295,000   UpHealth Inc., Senior Unsecured Notes, 6.250% due 6/15/26(a)    5,398,300 
     Vistra Corp., Junior Subordinated Notes:     
 205,000   7.000% (5-Year CMT Index + 5.740%) (a)(b)(e)    194,750 
 120,000   8.000% (5-Year CMT Index + 6.930%) (a)(b)(e)    117,377 
 500,000   Voya Financial Inc., Junior Subordinated Notes, 7.748% (5-Year CMT Index + 3.358%) (b)(e)    495,950 
 2,844,000   Warnermedia Holdings Inc., Company Guaranteed Notes, 5.050% due 3/15/42    2,348,099 

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

 

Face
Amount/Units†		   Security  Value 
United States - 22.4% - (continued)  
     Wells Fargo & Co., Junior Subordinated Notes:     
$1,290,000   3.900% (5-Year CMT Index + 3.453%) (b)(e)   $1,163,802 
 1,470,000   5.875% (b)(e)    1,448,018 
 975,000   7.625% (5-Year CMT Index + 3.606%) (b)(e)    999,384 
 3,479,000   XPO Inc., Senior Secured Notes, 6.250% due 6/1/28(a)    3,436,989 
 4,314,000   Ziff Davis Inc., Company Guaranteed Notes, 4.625% due 10/15/30(a)    3,802,226 
     Total United States    184,697,036 
     TOTAL CORPORATE BONDS & NOTES
(Cost - 625,929,716)		   595,813,607 
SENIOR LOANS(b) - 8.8%  
 3,750,658   American Greetings Corp., 11.348% (1-Month USD-SOFR + 6.000%) due 4/6/28    3,744,394 
 3,689,458   Carrols Restaurant Group Inc., 8.698% (1-Month USD-SOFR + 3.250%) due 4/30/26    3,578,774 
 9,282,746   Cengage Learning Inc., 10.406% (3-Month USD-SOFR + 4.750%) due 7/14/26    9,267,708 
 778,370   Chefs' Warehouse Inc., 10.198% (1-Month USD-SOFR + 4.750%) due 8/23/29    780,806 
 6,176,637   Chobani LLC, 8.963% (1-Month USD-SOFR + 3.500%) due 10/25/27    6,178,552 
 1,369,404   Container Store Inc., 10.402% (3-Month USD-SOFR + 4.750%) due 1/31/26    1,232,464 
 2,408,864   Crocs Inc., 8.540% (3-Month USD-SOFR + 3.000%) due 2/20/29    2,413,995 
 1,728,844   Diebold Nixdorf Inc., 12.891% (3-Month USD-SOFR + 7.500%) due 8/11/28    1,741,378 
 336,688   Elevate Textiles Inc., 14.045% (3-Month USD-SOFR + 8.650%) due 9/30/27    333,321 
     First Brands Group LLC:     
 701,543   10.881% (6-Month USD-SOFR + 5.000%) due 3/30/27    689,266 
 6,606,639   14.381% (6-Month USD-SOFR + 8.500%) due 3/30/28    6,185,466 
 951,630   GemmaCert Ltd., 9.000% due 5/19/24(c)(g)    279,304 
 3,359,180   Getty Images Inc., 9.990% (3-Month USD-SOFR + 4.500%) due 2/19/26    3,367,578 
 4,876,000   HighPeak Energy Inc., 13.040% (3-Month USD-SOFR + 7.500%) due 9/30/26    4,851,620 
 8,150,008   Inotiv Inc., 12.619% (6-Month USD-SOFR + 6.750%) due 11/5/26    7,824,007 
 994,911   Magnite Inc., 10.463% (1-Month USD-SOFR + 5.000%) due 4/28/28    996,334 
 8,950,893   Mountaineer Merger Corp., 12.639% (3-Month USD-SOFR + 7.000%) due 10/26/28    6,534,152 
 9,427,896   NAI Entertainment Holdings LLC, 10.444% (1-Month USD-SOFR + 5.000%) due 5/8/25(i)    9,209,923 
 1,973,698   QuarterNorth Energy Holding Inc., 13.463% (1-Month USD-SOFR + 8.000%) due 8/27/26    1,966,297 
 1,529,360   United Natural Foods Inc., due 10/22/25(i)    1,522,799 
     TOTAL SENIOR LOANS
(Cost - $75,207,130) 		   72,698,138 
COLLATERALIZED MORTGAGE OBLIGATIONS - 2.1%    
 638,296   BX, Series 2021-MFM1, Class D, 6.937% due 1/15/34(a)(b)    620,238 
     BX Commercial Mortgage Trust:     
 3,933,000   Series 2021-VOLT, Class C, 6.537%due 9/15/36(a)(b)    3,760,186 
 1,515,157   Series 2021-SOAR, Class C, 6.537%due 6/15/38(a)(b)    1,473,287 
 900,593   BX Trust, Series 2022-IND, Class B, 7.263% due 4/15/37(a)(b)    885,907 
 3,363,000   CAMB Commercial Mortgage Trust, Series 2019-LIFE, Class D, 7.120% due 12/15/37(a)(b)    3,320,525 
 871,831   Credit Suisse Mortgage Capital Certificates, Series 2019-ICE4, Class D, 6.970% due 5/15/36(a)(b)    864,738 
 1,280,000   JP Morgan Chase Commercial Mortgage Securities Trust, Series 2021-MHC, Class B, 6.487% due 4/15/38(a)(b)   1,258,249 
 4,520,000   Life Mortgage Trust, Series 2022-BMR2, Class A1, 6.618% due 5/15/39(a)(b)    4,426,399 
 849,000   SMRT, Series 2022-MINI, Class B, 6.673% due 1/15/39(a)(b)    821,302 
     TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS
(Cost - $17,439,270) 		   17,430,831 

 

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

 

Face
Amount/Units†		   Security  Value 
SOVEREIGN BONDS - 1.0% 
Colombia - 0.6%    
$4,900,000   Colombia Government International Bond, 4.500% due 1/28/26   $4,742,214 
Peru - 0.2%        
 1,400,000   Corp. Financiera de Desarrollo SA, 5.250% (3-Month USD-LIBOR+5.605%) due 7/15/29(b)    1,367,563 
South Africa - 0.2%     
 1,600,000   Republic of South Africa Government International Bond, 4.875% due 4/14/26    1,551,280 
Ukraine - 0.0%       
 1,800,000   Ukraine Government International Bond, 9.750% due 11/1/30    513,000 
     TOTAL SOVEREIGN BONDS
(Cost - $8,993,466) 		   8,174,057 

 

Shares/Units        
         
EXCHANGE TRADED FUND (ETF) - 6.1%     
United States - 6.1%     
   1,431,073        Xtrackers USD High Yield Corporate Bond
(Cost - $48,763,821) 		      49,715,476    
PREFERRED STOCKS - 2.8%     
Bermuda - 0.4%     
 49,296   Aspen Insurance Holdings Ltd., 5.625%(e)    1,007,610 
     Athene Holding Ltd.:     
 25,555   6.350% (3-Month USD-LIBOR + 4.253%) (b)(e)    608,976 
 22,269   6.375%(5-Year CMT Index + 5.970%)(b)(e)    551,603 
 10,445   Axis Capital Holdings Ltd., 5.500%(e)    221,852 
 30,038   Enstar Group Ltd., 7.000% (3-Month USD-LIBOR + 4.015%)(b)(e)    742,839 
     Total Bermuda    3,132,880 
United Kingdom - 0.0%  
 4,046   Argo Blockchain PLC, 8.750%    29,698 
United States - 2.4%    
 18,819   Air Lease Corp., 6.150% (3-Month TSFR + 3.912%)(b)(e)    459,560 
     American Equity Investment Life Holding Co.:     
 26,165   5.950% (5-Year CMT Index +4.322%)(b)(e)    590,544 
 60,435   6.625% (5-Year CMT Index + 6.297%)(b)(e)    1,457,692 
 8,130   Assurant Inc., 5.250%    159,104 
 21,565   AT&T Inc., 4.750%(e)    414,048 
 204,660   Bitcoin Depot Inc.*(c)(g)    454,345 
 2,850   CoBank ACB, 6.200% (3-Month USD-LIBOR + 3.744%)(b)(e)    272,945 
 1,000   Dairy Farmers of America Inc., 7.875%(a)(c)(e)    87,500 
 18,271   Equitable Holdings Inc., 5.250%(e)(j)    378,758 
 11,970   Farm Credit Bank of Texas, 9.681% (3-Month USD-LIBOR + 4.010%)(a)(b)(e)    1,161,477 
 208,194   Fossil Group Inc., 7.000%    2,821,029 
     KeyCorp:     
 14,085   6.125% (3-Month TSFR +4.154%) (b)(e)    304,518 
 29,270   6.200% (5-Year CMT Index +3.132%) (b)(e)    593,888 
     Morgan Stanley:     
 34,425   5.850%(b)(e)   808,299 
 15,700   6.375%(b)(e)   391,558 
 10,000   6.500%(e)   258,000 
 7,500   6.875%(b)(e)   189,750 
 27,998   New York Community Bancorp Inc., 6.375% (3-Month USD-LIBOR + 3.821%)(b)(e)    648,714 
 67,935   NGL Energy Partners LP, 12.852% (3-Month USD-LIBOR + 7.213%)*(b)(e)    1,766,310 
 7,100   NiSource Inc., 6.500% (5-Year CMT Index + 3.632%)(b)(e)    178,423 

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

 

Shares/Units   Security  Value 
         
United States - 2.4% - (continued)     
     NuStar Energy LP:     
 35,146   11.315% (3-Month TSFR +5.905%)(b)(e)   $903,955 
 21,505   12.438% (3-Month TSFR +7.028%)(b)(e)    553,754 
 17,478   NuStar Logistics LP, 12.389% (3-Month TSFR + 6.996%)(b)    469,284 
 28,836   Regions Financial Corp., 5.700% (3-Month USD-LIBOR + 3.148%)(b)(e)    572,683 
     Reinsurance Group of America Inc.:     
 15,000   5.750% (3-Month USD-LIBOR +4.040%)(b)(j)    377,700 
 14,425   7.125% (5-Year CMT Index +3.456%)(b)    377,502 
 43,599   Saratoga Investment Corp., 6.000%    1,026,756 
 12,635   Selective Insurance Group Inc., 4.600%(e)    220,228 
 25,945   Synchrony Financial, 5.625%(e)    431,984 
 13,953   Synovus Financial Corp., 5.875% (5-Year CMT Index + 4.127%)(b)(e)    325,803 
 30,380   Voya Financial Inc., 5.350% (5-Year CMT Index + 3.210%)(b)(e)(j)    722,740 
 7,160   Western Alliance Bancorp, 4.250% (5-Year CMT Index + 3.452%)(b)(e)    117,352 
 13,366   Wintrust Financial Corp., 6.875% (5-Year CMT Index + 6.507%)(b)(e)    328,403 
     Total United States    19,824,606 
            TOTAL PREFERRED STOCKS
(Cost - $25,426,406) 		       22,987,184   
COMMON STOCKS - 1.2%     
United States - 1.2%     
 15,560   Alpha Partners Technology*(c)(g)    795 
 22,982   Berenson Acquisition Corp. I*(c)(g)    – 
 228,050   Bitcoin Depot Inc.*(j)    506,271 
 183,721   CTO Realty Growth Inc.(j)    3,104,885 
 5,813   QuarterNorth Energy Inc.*(c)(g)    778,942 
 57   Real Alloy Holding Inc.*(c)(g)    3,376,768 
 10,650   Revelstone Capital Acquisition Corp.*(c)(g)    373 
 238,311   UpHealth Inc.*(c)    104,833 
 39,800   Verizon Communications Inc.    1,525,534 
 12,400   Warner Bros Discovery Inc.*    129,580 
     Total United States    9,527,981 
            TOTAL COMMON STOCKS
(Cost - $8,914,369) 		       9,527,981   
EQUITY LINKED NOTES - 0.0%    
United States – 0.0%     
   21,346        Legato Merger Corp.*(c)(g)
(Cost - $0)		        114,201   
WARRANTS - 0.0%     
Bermuda – 0.0%     
 558,670   McDermott International Ltd.*(c)(g)    – 
 502,803   WT PUR COM*(c)(g)    – 
     Total Bermuda    – 
Brazil – 0.0%     
 58,463   OAS SA*(c)(g)    – 
Canada – 0.0%     
 29,147,860   Tacora Resources Inc.*(g)    – 
Israel – 0.0%     
 41,956   GemmaCert Ltd.*(c)(g)    – 
United Kingdom - 0.0% 
 57,514   Financials Acquisition Corp.*(c)    2,178 

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

 

Face
Amount†		   Security  Value 
United States - 0.0%  
$36,249   Leafly Holdings Inc.*(c)   $743 
 309,502   ProSomnus Inc.*(c)    5,912 
     Total United States    6,655 
            TOTAL WARRANTS
(Cost - $364,009) 		       8,833   
            TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS
(Cost - $811,038,187) 		       776,470,308   
SHORT-TERM INVESTMENTS - 5.3%    
COMMERCIAL PAPERS - 1.9%     
 6,915,000   Arrow Electronics Inc., 5.869% due 12/6/23(k)    6,908,360 
 6,665,000   Bacardi-Martini BV, 5.977% due 12/19/23(k)    6,645,662 
 2,116,000   Crown Castle Inc., 6.040% due 12/19/23(k)    2,109,520 
            TOTAL COMMERCIAL PAPERS
(Cost - $15,664,272) 		       15,663,542   
CORPORATE NOTE - 0.2%     
   2,165,123        Tacora Resources Inc., 13.000% due 11/3/23(a)(c)(d)
(Cost - $2,165,713) 		       2,165,123   
TIME DEPOSITS - 3.2%    
 231,323   Citibank - New York, 4.680% due 12/1/23    231,323 
 3,983,155   JPMorgan Chase & Co. - New York, 4.680% due 12/1/23    3,983,155 
 22,285,038   Sumitomo Mitsui Banking Corp. - Tokyo, 4.680% due 12/1/23    22,285,038 
            TOTAL TIME DEPOSITS
(Cost - $26,499,516) 		       26,499,516   
            TOTAL SHORT-TERM INVESTMENTS
(Cost - $44,329,501) 		       44,328,181   

 

Shares/Units         
          
INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING - 0.1%
MONEY MARKET FUND - 0.1%     
   709,894        Federated Government Obligations Fund, Premier Class, 5.213%(l)
(Cost - $709,894) 		       709,894   
            TOTAL INVESTMENTS - 99.7%
(Cost - $856,077,582) 		       821,508,383   
     Other Assets in Excess of Liabilities - 0.3%    2,174,644 
     TOTAL NET ASSETS - 100.0%   $823,683,027 

 

 

†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 November 30, 2023, amounts to $186,877,334 and represents 22.69% of net assets.
(b)Variable rate security. Interest rate disclosed is that which was in effect at November 30, 2023.
(c)Illiquid security. The aggregate value of illiquid holdings at November 30, 2023, amounts to $ 35,529,884 and represents 4.31% of net assets.
(d)Security is currently in default.
(e)Security is perpetual in nature and has no stated maturity date.
(f)Payment in-kind security for which part of the income earned may be paid as additional principal.
(g)Security is valued in good faith at fair value by or under the direction of the Board of Trustees using significant unobservable inputs.
(h)All or a portion of this security is pledged by the Fund as collateral for short sales or derivative transactions.
(i)This position represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate. (j) All or a portion of this security is on loan. (k) Rate shown represents yield-to-maturity.
(l)Represents investment of collateral received from securities lending transactions.

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

 

Abbreviations used in this schedule:
CMT — Constant Maturity Treasury Index
ETF — Exchange Traded Fund
EURIBOR — Euro Interbank Offered Rate
ICE — Intercontinental Exchange
LIBOR — London Interbank Offered Rate
LLC — Limited Liability Company
LP — Limited Partnership
NIBOR — Norwegian Interbank Offered Rate
PLC — Public Limited Company
SOFR — Secured Overnight Financing Rate
STIBOR — Stockholm Interbank Offered Rate
TSFR — CME Term SOFR Reference Rate

 

Summary of Investments by Security Type^     
Corporate Bonds & Notes    72.5%
Senior Loans    8.8 
Exchange Traded Fund (ETF)    6.1 
Preferred Stocks    2.8 
Collateralized Mortgage Obligations    2.1 
Common Stocks    1.2 
Sovereign Bonds    1.0 
Warrants    0.0*
Short-Term Investments    5.4 
Money Market Fund    0.1 
    100.0%

 

 

^ As a percentage of total investments.

* Positions represent less than 0.05%

 

Schedule of Options Contracts Written

Equity Options

 

Number of
Contracts		   Notional
Amount		   Security Name  Counterparty   Expiration
Date		  Exercise
Rate		   Value 
238   $1,943,270   iShares 1-3 Year Treasury Bond, Put   RJA   6/21/24  $82.00   $(45,220)
238    1,943,270   iShares 1-3 Year Treasury Bond, Call   RJA   6/21/24  $84.00    (14,280)
2    15,142   iShares iBoxx HighYield, Call   RJA   12/15/23  $74.00    (338)
357    2,702,847   iShares iBoxx HighYield, Put   RJA   12/15/23  $75.00    (14,280)
187    1,133,968   MasTec Inc., Call   RJA   12/15/23  $115.00    (935)
569    2,180,977   Verizon Communications Inc., Call   RJA   1/19/24  $35.00    (204,840)
         TOTAL OPTIONS CONTRACTS WRITTEN
(Premiums received — $124,975) 		           $(279,893)

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (continued)

 

At November 30, 2023, 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 Buy:                                 
Euro    102,000   BBH    $111,090   12/15/23  $165   $–   $165 
                                  
Contracts to Sell:                                 
Euro    24,759,000   BBH     26,965,507   12/15/23   –    (517,200)   (517,200)
Norwegian Krone    84,860,000   BBH     7,843,255   12/15/23   –    (234,083)   (234,083)
Swedish Krona    85,250,000   BBH     8,121,036   12/15/23   –    (292,337)   (292,337)
Swedish Krona    14,760,000   BBH     1,406,059   12/15/23   17,997    –    17,997 
                     $17,997   $(1,043,620)  $(1,025,623)
Net Unrealized Depreciation on Open Forward Foreign Currency Contracts       $18,162   $(1,043,620)  $(1,025,458)

  

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.
RJA — Raymond James &Associates
 

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Global Fixed Income Opportunities Fund (concluded)

 

Face Amount†   Security  Value 
SECURITIES SOLD SHORT - 1.3% 
CORPORATE BONDS & NOTES - 0.7% 
Communications - 0.2% 
$1,981,000   CCO Holdings LLC/CCO Holdings Capital Corp., Senior Unsecured Notes, 4.750% due 3/1/30(a)   $1,733,695 
Consumer Non-cyclical - 0.1%    
 1,138,000   Johnson & Johnson, Senior Unsecured Notes, 4.950% due 5/15/33    1,186,478 
Industrial - 0.2%  
 1,981,000   Likewize Corp., Senior Secured Notes, 9.750% due 10/15/25(a)    1,989,330 
Technology - 0.2%  
 1,428,000   Concentrix Corp., Senior Unsecured Notes, 6.850% due 8/2/33    1,400,843 
     TOTAL CORPORATE BONDS & NOTES     
     (Proceeds - $6,177,090)    6,310,346 

 

Shares/Units        
         
EXCHANGE TRADED FUND (ETF) - 0.6%    
 59,300   iShares iBoxx High Yield Corporate Bond*      
     (Proceeds - $4,446,622)   4,489,603 
     TOTAL SECURITIES SOLD SHORT - 1.3%     
     (Proceeds - $10,623,712)    10,799,949 

 

 
†Face amount denominated in U.S. dollars, unless otherwise noted.
*Non-income producing security.
(a)Restricted security that may be repurchased from “qualified institutional buyers” pursuant to the conditions of Rule 144A under the Securities Act of 1933, as amended. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees, unless otherwise noted. The aggregate value of restricted 144A holdings at November 30, 2023, amounts to $3,723,025 and represents 0.45% of net assets.

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Multi Strategy Alternatives Fund

 

Face
Amount/Units		   Security  Value 
ASSET-BACKED SECURITIES - 18.3%    
$1,574,400   Aames Mortgage Investment Trust, Series 2005-4, Class M3, 6.237% (1-Month TSFR + 0.894%) due 10/25/35(a)   $1,534,270 
 3,058,682   ABFC Trust, Series 2003-OPT1, Class A3, 6.137% (1-Month TSFR + 0.794%) due 4/25/33(a)    2,896,057 
 2,430,000   Accredited Mortgage Loan Trust, Series 2006-2, Class M1, 5.727% (1-Month TSFR + 0.384%) due 9/25/36(a)    2,206,548 
 4,000,000   AGL Core CLO 2 Ltd., Series 2019-2A, Class A1, 7.067% (3-Month TSFR + 1.652%) due 4/20/32(a)(b)    4,001,265 
 2,500,000   Allegro CLO IX Ltd., Series 2018-3A, Class B2, 7.355% (3-Month TSFR + 1.962%) due 10/16/31(a)(b)    2,479,507 
 5,000,000   Anchorage Capital CLO 18 Ltd., Series 2021-18A, Class A1, 6.805% (3-Month TSFR + 1.412%) due 4/15/34(a)(b)    4,947,796 
 6,507,000   ARES LI CLO Ltd., Series 2019-51A, Class BR, 7.405% (3-Month TSFR + 2.012%) due 7/15/34(a)(b)    6,446,563 
 1,039,564   Asset Backed Securities Corp. Home Equity Loan Trust, Series 2007-HE1, Class A4, 3.612% (1-Month TSFR + 0.394%) due 12/25/36(a)    999,052 
     Barings CLO Ltd.:     
 2,860,000   Series 2020-1A, Class BR, 7.305% (3-Month TSFR + 1.912%) due 10/15/36(a)(b)    2,819,887 
 13,505,000   Series 2021-1A, Class B, 7.040% (3-Month TSFR + 1.662%) due 4/25/34(a)(b)    13,176,356 
 4,300,000   Benefit Street Partners CLO XXIV Ltd., Series 2021-24A, Class B, 7.377% (3-Month TSFR + 1.962%) due 10/20/34(a)(b)    4,254,119 
 5,475,000   Buckhorn Park CLO Ltd., Series 2019-1A, Class B1R, 7.307% (3-Month TSFR + 1.912%) due 7/18/34(a)(b)    5,400,704 
 3,000,000   Carlyle Global Market Strategies CLO Ltd., Series 2015-4A, Class A2R, 7.477% (3-Month TSFR + 2.062%) due 7/20/32(a)(b)    2,972,000 
 2,157,852   Carrington Mortgage Loan Trust, Series 2006-NC3, Class A3, 5.607% (1-Month TSFR + 0.264%) due 8/25/36(a)    2,017,563 
 1,992,554   CHEC Loan Trust, Series 2004-1, Class A3, 6.457% (1-Month TSFR + 1.114%) due 7/25/34(a)(b)    1,873,727 
 721,932   Countrywide Asset-Backed Certificates, Series 2004-2, Class M1, 6.207% (1-Month TSFR + 0.864%) due 5/25/34(a)    718,905 
 279,233   CWABS Asset-Backed Certificates Trust, Series 2007-2, Class 2A3, 5.597% (1-Month TSFR + 0.254%) due 8/25/37(a)    276,479 
 124,409   CWABS Inc. Asset-Backed Certificates Trust, Series 2007-12, Class 2A3, 6.257% (1-Month TSFR + 0.914%) due 8/25/47(a)    123,046 
 1,533,523   Ellington Loan Acquisition Trust, Series 2007-1, Class A1, 6.557% (1-Month TSFR + 1.214%) due 5/25/37(a)(b)    1,452,865 
 2,634,606   EquiFirst Mortgage Loan Trust, Series 2003-2, Class 1A1, 6.569% (1-Month TSFR + 1.239%) due 9/25/33(a)    2,535,514 
 4,295,688   Fremont Home Loan Trust, Series 2003-A, Class M1, 6.432% (1-Month TSFR + 1.089%) due 8/25/33(a)    4,274,172 
 2,810,000   Home Equity Asset Trust, Series 2005-6, Class M5, 6.402% (1-Month TSFR + 1.059%) due 12/25/35(a)    2,498,386 
 3,000,000   HPS Loan Management Ltd., Series 9A-2016, Class A2R, 7.358% (3-Month TSFR + 1.962%) due 7/19/30(a)(b)    2,984,714 
 6,500,000   Invesco CLO Ltd., Series 2022-3A, Class B, 8.162% (3-Month TSFR + 2.750%) due 10/22/35(a)(b)    6,531,718 
 1,397,274   JP Morgan Mortgage Acquisition Trust, Series 2007-CH4, Class A5, 5.697% (1-Month TSFR + 0.354%) due 5/25/37(a)    1,379,602 
 2,113,405   Long Beach Mortgage Loan Trust, Series 2004-4, Class M1, 6.357% (1-Month TSFR + 1.014%) due 10/25/34(a)    1,991,625 
 1,314,021   Longfellow Place CLO Ltd., Series 2013-1A, Class ERR, 13.355% (3-Month TSFR + 7.962%) due 4/15/29(a)(b)    1,304,449 

 

 

 

 

Schedules of Investments
November 30, 2023 (unaudited)

Destinations Multi Strategy Alternatives Fund (continued)

 

Face
Amount/Units		   Security  Value 
ASSET-BACKED SECURITIES - 18.3% (continued)     
$2,370,000   Marathon CLO XI Ltd., Series 2018-11A, Class A2, 7.227% (3-Month TSFR + 1.812%) due 4/20/31(a)(b)  $2,329,253 
 2,199,743   Mastr Asset Backed Securities Trust, Series 2004-WMC1, Class M1, 6.237% (1-Month TSFR + 0.894%) due 2/25/34(a)    2,193,320 
     Merrill Lynch Mortgage Investors Trust:     
 409,912   Series 2005-FM1, Class M1, 6.177% (1-Month TSFR + 0.834%) due 5/25/36(a)    400,763 
 1,692,691   Series 2006-OPT1, Class A2C, 5.757% (1-Month TSFR + 0.414%) due 8/25/37(a)    1,556,742 
 5,950,000   Neuberger Berman Loan Advisers CLO 29 Ltd., Series 2018-29A, Class B1, 7.358% (3-Month TSFR + 1.962%) due 10/19/31(a)(b)    5,881,865 
 848,024   NovaStar Mortgage Funding Trust, Series 2006-1, Class A2C, 5.777% (1-Month TSFR + 0.434%) due 5/25/36(a)    834,942 
     Park Place Securities Inc. Asset-Backed Pass-Through Certificates:     
 3,600,000   Series 2005-WCH1, Class M5, 6.777% (1-Month TSFR + 1.434%) due 1/25/36(a)    3,257,483 
 971,195   Series 2005-WCW2, Class M2, 6.252% (1-Month TSFR + 0.909%) due 7/25/35(a)    952,576 
 2,359,159   Ramp Trust, Series 2004-RS8, Class MII2, 4.922% (1-Month TSFR + 1.264%) due 8/25/34(a)    2,265,460 
 9,505,000   RR 4 Ltd., Series 2018-4A, Class A2, 7.205% (3-Month TSFR + 1.812%) due 4/15/30(a)(b)    9,374,487 
 2,486,544   Specialty Underwriting & Residential Finance Trust, Series 2004-BC1, Class M1, 6.222% (1-Month TSFR + 0.879%) due 2/25/35(a)    2,395,841 
 380,000   Steele Creek CLO Ltd., Series 2016-1A, Class ER, 11.421% (3-Month TSFR + 6.012%) due 6/15/31(a)(b)   280,971 
 5,555,256   Stratus CLO Ltd., Series 2021-2A, Class A, 6.577% (3-Month TSFR + 1.162%) due 12/28/29(a)(b)    5,516,424 
 3,354,864   Structured Asset Investment Loan Trust, Series 2004-2, Class A4, 6.162% (1-Month TSFR + 0.819%) due 3/25/34(a)    3,234,439 
     Structured Asset Securities Corp. Mortgage Loan Trust:     
 2,600,000   Series 2005-WF4, Class M8, 8.082% (1-Month TSFR + 2.739%) due 11/25/35(a)    2,361,093 
 649,584   Series 2006-BC6, Class A4, 5.627% (1-Month TSFR + 0.284%) due 1/25/37(a)    634,709 
 1,002,280   Series 2006-GEL1, Class M2, 6.657% (1-Month TSFR + 1.314%) due 11/25/35(a)(b)    986,153 
 782,366   Series 2007-BC3, Class 2A3, 5.637% (1-Month TSFR + 0.294%) due 5/25/47(a)    738,257 
     Terwin Mortgage Trust:     
 6,738,000   Series 2006-5, Class 1A2C, 6.057% (1-Month TSFR + 0.714%) due 7/25/37(a)(b)    6,236,330 
 2,465,000   Series 2006-7, Class 1A2C, 5.997% (1-Month TSFR + 0.654%) due 7/25/37(a)(b)    2,008,488 
1,030,000   Venture XVIII CLO Ltd., Series 2014-18A, Class ER, 12.245% (3-Month TSFR + 6.852%) due 10/15/29(a)(b)  706,561 
 1,291,000   Vibrant CLO VIII Ltd., Series 2018-8A, Class A1B, 6.927% (3-Month TSFR + 1.512%) due 1/20/31(a)(b)   1,276,202 
 2,850,000   Wellfleet CLO Ltd., Series 2019-1A, Class A2R, 7.477% (3-Month TSFR + 2.062%) due 7/20/32(a)(b)   2,824,397 
 7,000,000   Wellfleet CLO X Ltd., Series 2019-XA, Class A2R, 7.427% (3-Month TSFR + 2.012%) due 7/20/32(a)(b)   6,892,076 
            TOTAL ASSET-BACKED SECURITIES
(Cost - $150,302,385)		        149,235,721   
COLLATERALIZED MORTGAGE OBLIGATIONS - 16.7%     
 1,828,568   Adjustable Rate Mortgage Trust, Series 2005-2, Class 6M2, 6.437% (1-Month TSFR + 1.094%) due 6/25/35(a)   1,793,436 
 613,556   Bear Stearns ALT-A Trust, Series 2006-8, Class 3A1, 5.777% (1-Month TSFR + 0.434%) due 2/25/34(a)   559,238 
     Connecticut Avenue Securities Trust:     
 8,200,000   Series 2019-HRP1, Class B1, 14.693% (SOFR30A + 9.364%) due 11/25/39(a)(b)   8,868,647 
 6,734,000   Series 2019-R01, Class 2B1, 9.793% (SOFR30A + 4.464%) due 7/25/31(a)(b)   7,206,225 
 3,142,192   Deutsche Alternative-A Securities Mortgage Loan Trust, Series 2007-OA5, Class A1A, 5.657% (1-Month TSFR + 0.314%) due 8/25/47(a)   2,729,494 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Multi Strategy Alternatives Fund (continued)

 

Face
Amount/Units		   Security   Value 
COLLATERALIZED MORTGAGE OBLIGATIONS - 16.7% (continued)     
     Federal National Mortgage Association (FNMA), Connecticut Avenue Securities:     
$531,009   Series 2016-C01, Class 1B, 17.193% (SOFR30A + 11.864%) due 8/25/28(a)@  $610,158 
 3,394,035   Series 2016-C02, Class 1B, 17.693% (SOFR30A + 12.364%) due 9/25/28(a)@   3,949,742 
 486,098   Series 2016-C03, Class 1B, 17.193% (SOFR30A + 11.864%) due 10/25/28(a)@   561,346 
 2,529,437   Series 2016-C03, Class 2M2, 11.343% (SOFR30A + 6.014%) due 10/25/28(a)@   2,693,457 
 1,261,347   Series 2016-C04, Class 1B, 15.693% (SOFR30A + 10.364%) due 1/25/29(a)@   1,417,613 
 4,646,183   Series 2016-C06, Class 1B, 14.693% (SOFR30A + 9.364%) due 4/25/29(a)@   5,148,838 
 2,464,226   FNBA Mortgage Loan Trust, Series 2004-AR1, Class M2, 6.546% (1-Month TSFR + 1.764%) due 8/19/34(a)   2,470,998 
     Freddie Mac STACR REMIC Trust:     
 5,438,000   Series 2020-DNA1, Class B2, 10.693% (SOFR30A + 5.364%) due 1/25/50(a)(b)   5,546,184 
 3,780,000   Series 2020-DNA5, Class B2, 16.828% (SOFR30A + 11.500%) due 10/25/50(a)(b)   4,863,434 
 5,600,000   Series 2020-DNA6, Class B2, 10.978% (SOFR30A + 5.650%) due 12/25/50(a)(b)   5,885,489 
 3,027,980   Series 2020-HQA3, Class B1, 11.193% (SOFR30A + 5.864%) due 7/25/50(a)(b)   3,334,751 
 1,280,000   Series 2020-HQA3, Class B2, 15.443% (SOFR30A + 10.114%) due 7/25/50(a)(b)   1,612,089 
 1,260,000   Series 2020-HQA4, Class B2, 14.843% (SOFR30A + 9.514%) due 9/25/50(a)(b)   1,574,466 
 3,060,000   Series 2021-DNA5, Class B2, 10.828% (SOFR30A + 5.500%) due 1/25/34(a)(b)   3,077,672 
 2,601,000   Series 2021-HQA1, Class B2, 10.328% (SOFR30A + 5.000%) due 8/25/33(a)(b)   2,546,127 
     Freddie Mac STACR Trust:     
 5,000,000   Series 2019-DNA2, Class B2, 15.943% (SOFR30A + 10.614%) due 3/25/49(a)(b)   5,878,003 
 4,870,000   Series 2019-DNA3, Class B2, 13.593% (SOFR30A + 8.264%) due 7/25/49(a)(b)   5,389,866 
 4,588,000   Series 2019-DNA4, Class B2, 11.693% (SOFR30A + 6.364%) due 10/25/49(a)(b)   4,867,568 
 5,800,000   Series 2019-FTR1, Class B2, 13.793% (SOFR30A + 8.464%) due 1/25/48(a)(b)   6,439,301 
 4,030,000   Series 2019-HQA1, Class B2, 17.693% (SOFR30A + 12.364%) due 2/25/49(a)(b)   4,987,691 
 5,500,000   Series 2019-HQA2, Class B1, 9.543% (SOFR30A + 4.214%) due 4/25/49(a)(b)   5,850,427 
 5,000,000   Series 2019-HRP1, Class B2, 14.943% (SOFR30A + 9.614%) due 2/25/49(a)(b)   5,444,506 
     Freddie Mac Structured Agency Credit Risk Debt Notes:     
 5,121,064   Series 2015-DNA2, Class B, 12.993% (SOFR30A + 7.664%) due 12/25/27(a)   5,386,931 
 1,910,230   Series 2016-DNA1, Class B, 15.443% (SOFR30A + 10.114%) due 7/25/28(a)   2,111,223 
 1,066,478   Series 2016-DNA4, Class B, 14.043% (SOFR30A + 8.714%) due 3/25/29(a)@   1,162,521 
 1,981,398   Series 2016-HQA3, Class B, 14.443% (SOFR30A + 9.114%) due 3/25/29(a)@   2,158,605 
 553,396   Series 2017-DNA2, Class B2, 16.693% (SOFR30A + 11.364%) due 10/25/29(a)   634,415 
 4,290,000   Series 2017-HQA3, Class B1, 9.893% (SOFR30A + 4.564%) due 4/25/30(a)@   4,633,051 
 2,448,030   HomeBanc Mortgage Trust, Series 2005-4, Class M3, 6.267% (1-Month TSFR + 0.924%) due 10/25/35(a)   2,152,789 
 3,203,049   IndyMac INDX Mortgage Loan Trust, Series 2006-FLX1, Class A1, 5.877% (1-Month TSFR + 0.534%) due 11/25/36(a)   2,830,272 
     STACR Trust:     
 4,862,860   Series 2018-HRP1, Class B1, 9.193% (SOFR30A + 3.864%) due 4/25/43(a)(b)   5,028,289 
 4,743,128   Series 2018-HRP1, Class B2, 17.193% (SOFR30A + 11.864%) due 5/25/43(a)(b)   5,474,520 
     TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS     
     (Cost - $131,707,292)   136,879,382 
CORPORATE BONDS & NOTES - 15.0%     
Communications - 0.0%     
 301,000   AMC Networks Inc., Company Guaranteed Notes, 5.000% due 4/1/24   300,698 
Consumer Cyclical - 5.1%     
 6,551,000   Cinemark USA Inc., Company Guaranteed Notes, 5.875% due 3/15/26(b)   6,355,715 
 18,355,000   Full House Resorts Inc., Senior Secured Notes, 8.250% due 2/15/28(b)   16,491,417 
 11,499,000   Golden Entertainment Inc., Senior Unsecured Notes, 7.625% due 4/15/26(b)(c)   11,523,493 
 2,794,000   Kohl's Corp., Senior Unsecured Notes, 4.625% due 5/1/31   2,043,112 
 529,000   Michael Kors USA Inc., Company Guaranteed Notes, 4.250% due 11/1/24(b)   517,775 
 4,356,000   Six Flags Theme Parks Inc., Senior Secured Notes, 7.000% due 7/1/25(b)   4,371,072 
     Total Consumer Cyclical   41,302,584 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Multi Strategy Alternatives Fund (continued)

 

Face
Amount/Units		   Security   Value 
Consumer Non-cyclical - 3.3%     
$11,923,000   Arrow Bidco LLC, Secured Notes, 10.750% due 6/15/25(b)  $12,191,267 
 8,701,000   Pfizer Investment Enterprises Pte Ltd., Company Guaranteed Notes, 5.340% due 5/19/63   8,368,420 
 6,444,000   Williams Scotsman Inc., Senior Secured Notes, 6.125% due 6/15/25(b)   6,398,312 
     Total Consumer Non-cyclical   26,957,999 
Energy - 1.6%     
 6,946,000   Calumet Specialty Products Partners LP/Calumet Finance Corp., Company Guaranteed Notes, 11.000% due 4/15/25(b)   7,015,460 
 6,335,000   Shelf Drilling Holdings Ltd., Senior Secured Notes, 9.625% due 4/15/29(b)   6,095,286 
     Total Energy   13,110,746 
Financial - 0.8%     
 6,272,000   Enact Holdings Inc., Senior Unsecured Notes, 6.500% due 8/15/25(b)   6,195,099 
Industrial - 1.7%     
 8,665,000   Danaos Corp., Senior Unsecured Notes, 8.500% due 3/1/28(b)   8,664,661 
 5,304,000   WESCO Distribution Inc., Company Guaranteed Notes, 7.125% due 6/15/25(b)   5,311,548 
     Total Industrial   13,976,209 
Utilities - 2.5%     
 8,428,867   NRG Energy Inc., Junior Subordinated Notes, 10.250% (5-Year CMT Index + 5.920%) (a)(b)(d)   8,349,195 
 13,154,000   Vistra Corp., Junior Subordinated Notes, 7.000% (5-Year CMT Index + 5.740%) (a)(b)(d)   12,496,300 
     Total Utilities   20,845,495 
     TOTAL CORPORATE BONDS & NOTES     
     (Cost - $122,481,791)   122,688,830 
SENIOR LOAN(a) - 1.4%     
 11,117,140   Playa Resorts Holding BV, due 1/5/29(e)     
     (Cost - $10,851,314)   11,123,143 
           
Shares/Units      
         
COMMON STOCKS - 11.6% 
CONSUMER CYCLICAL - 2.7% 
Apparel - 0.5% 
  88,136   Capri Holdings Ltd.*   4,269,308 
Distribution/Wholesale - 0.3%     
209,107   MRC Global Inc.*   2,162,166 
Entertainment - 1.9%     
446,121   Golden Entertainment Inc.(c)   15,899,752 
    TOTAL CONSUMER CYCLICAL   22,331,226 
CONSUMER NON-CYCLICAL - 5.8%     
Biotechnology - 3.3%       
37,200   Apogee Therapeutics Inc.*(f)   725,772 
70,340   Calidi Biotherapeutics Inc.*@   147,714 
326,410   Crinetics Pharmaceuticals Inc.*   10,376,574 
238,041   Relay Therapeutics Inc.*   1,882,904 
93,467   Structure Therapeutics Inc., ADR*@   5,205,177 
255,592   Xenon Pharmaceuticals Inc.*   9,349,555 
    Total Biotechnology   27,687,696 
Commercial Services - 1.9%     
67,720   GXO Logistics Inc.*   3,809,927 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Multi Strategy Alternatives Fund (continued)

 

Shares/Units   Security  Value 
CONSUMER NON-CYCLICAL - 5.8% - (continued)     
Commercial Services - 1.9% - (continued)     
  271,405   WillScot Mobile Mini Holdings Corp.*  $11,323,017 
    Total Commercial Services   15,132,944 
Food - 0.6%         
224,458   Albertsons Cos., Inc., Class A Shares   4,886,451 
    TOTAL CONSUMER NON-CYCLICAL   47,707,091 
DIVERSIFIED - 0.4%       
SPACs - 0.4%       
292,343   Haymaker Acquisition Corp. 4*   3,005,286 
FINANCIAL - 2.1%       
Banks - 2.1%       
990,406   Blue Foundry Bancorp*(c)   8,616,532 
1,096,018   Kearny Financial Corp.(c)   8,658,542 
    Total Banks   17,275,074 
    TOTAL FINANCIAL   17,275,074 
INDUSTRIAL - 0.6%       
Metal Fabricate/Hardware - 0.6%     
674,014   Hillman Solutions Corp.*(c)   4,933,782 
    TOTAL COMMON STOCKS     
    (Cost - $88,456,484)   95,252,459 
OPEN-END FUNDS - 19.7%       
11,926,411   JPMorgan Strategic Income Opportunities Fund, Class R6 Shares   136,199,616 
1,897,743   Palm Valley Capital Fund   24,537,819 
    TOTAL OPEN-END FUNDS     
    (Cost - $158,679,194)   160,737,435 
EQUITY LINKED NOTE - 0.4%     
DIVERSIFIED - 0.4%       
SPACs - 0.4%         
299,624   Ares Acquisition Corp. II*     
    (Cost - $1,990,303)   3,107,101 
PREFERRED STOCK - 1.0%     
CONSUMER CYCLICAL - 1.0%     
Distribution/Wholesale - 1.0%     
292,290   WESCO International Inc., 10.625%(a)(d)(f)     
    (Cost - $7,856,063)   7,891,830 
WARRANTS - 0.0%       
DIVERSIFIED - 0.0%       
SPACs - 0.0%       
149,812   Ares Acquisition Corp. II*(g)   26,966 
468,723   Bridger Aerospace Group Holdings Inc.*(g)   93,745 
556,875   Calidi Biotherapeutics Inc.*(g)   11,137 
88,320   EQRX Inc.*(g)   4,027 
146,171   Haymaker Acquisition Corp. 4*(g)   21,926 
131,807   Inspirato Inc.*(g)   1,134 
358,816   Pagaya Technologies Ltd.*(g)   89,704 
491,405   Screaming Eagle Acquisition Corp.*(g)   29,484 
77,310   SomaLogic Inc.*(f)(g)   13,916 
23,299   X4 Pharmaceuticals Inc.*   28 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Multi Strategy Alternatives Fund (continued)

 
Shares/Units   Security  Value 
DIVERSIFIED - 0.0% - (continued)     
SPACs - 0.0% - (continued)     
 244,085   ZeroFox Holdings Inc.*(g)  $3,466 
     Total SPACs   295,533 
     TOTAL DIVERSIFIED   295,533 
     TOTAL WARRANTS     
     (Cost - $3,030,424)   295,533 

 

Number of
Contracts		  Notional
Amounts		       
           
PURCHASED OPTION - 0.0%
Equity Option - 0.0%        
  2,345  $2,558,395  Target Hospitality Corp., Call, $15.00, expires 1/19/24, Counterparty: GSC   11,725 
       TOTAL PURCHASED OPTION     
       (Cost - $483,139)   11,725 
       TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS     
       (Cost - $675,838,389)   687,223,159 

 

Face
Amount†		         
          
SHORT-TERM INVESTMENTS - 13.6%
TIME DEPOSITS - 13.6%       
$ 53,796,401    Citibank - New York, 4.680% due 12/1/23   53,796,401 
  57,540,261    JPMorgan Chase & Co. - New York, 4.680% due 12/1/23   57,540,261 
       TOTAL TIME DEPOSITS     
       (Cost - $111,336,662)   111,336,662 
             
Shares/Units          
           
INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING - 0.1%     
MONEY MARKET FUND - 0.1%     
  556,731    Federated Government Obligations Fund, Premier Class, 5.213%(h)     
       (Cost - $556,731)   556,731 
       TOTAL INVESTMENTS - 97.8%     
       (Cost - $787,731,782)   799,116,552 
       Other Assets in Excess of Liabilities - 2.2%   18,195,012 
       TOTAL NET ASSETS - 100.0%  $817,311,564 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Multi Strategy Alternatives Fund (continued)

 

 

† 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 November 30, 2023.
(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 November 30, 2023, amounts to $310,810,732 and represents 38.03% of net assets.  
(c) All or a portion of this security is pledged by the Fund as collateral for short sales or derivative transactions.
(d) Security is perpetual in nature and has no stated maturity date.
(e) 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.
(f) All or a portion of this security is on loan.
(g) Illiquid security. The aggregate value of illiquid holdings at November 30, 2023, amounts to $295,505 and represents 0.04% of net assets.
(h) Represents investment of collateral received from securities lending transactions.
@ Restricted security – Investment in security not registered under the Securities Act of 1933. The investment is deemed to not be liquid and may be sold only to qualified buyers.

 

Security 

First
Acquisition

Date

 

First
Acquisition

Cost

  

Market

Value

   Percent of
Net Assets		 
Federal National Mortgage Association (FNMA), Connecticut Avenue Securities:                  
Series 2016-C01, Class 1B, 17.193% (SOFR30A + 11.864%) due 8/25/28  8/3/2021  $236,453   $610,158    0.07%
Series 2016-C02, Class 1B, 17.693% (SOFR30A + 12.364%) due 9/25/28  8/10/2021   799,642    3,949,742    0.48%
Series 2016-C03, Class 1B, 17.193% (SOFR30A + 11.864%) due 10/25/28  4/27/2022   537,977    561,346    0.07%
Series 2016-C03, Class 2M2, 11.343% (SOFR30A + 6.014%) due 10/25/28  3/17/2020   2,941,204    2,693,457    0.33%
Series 2016-C04, Class 1B, 15.693% (SOFR30A + 10.364%) due 1/25/29  4/13/2022   1,355,446    1,417,613    0.17%
Series 2016-C06, Class 1B, 14.693% (SOFR30A + 9.364%) due 4/25/29  3/11/2022   2,850,909    5,148,838    0.63%
Freddie Mac Structured Agency Credit Risk Debt Notes:                  
Series 2016-DNA4, Class B, 14.043% (SOFR30A + 8.714%) due 3/25/29  3/11/2022   1,105,244    1,162,521    0.14%
Series 2016-HQA3, Class B, 14.443% (SOFR30A + 9.114%) due 3/25/29  1/27/2022   2,131,393    2,158,605    0.26%
Series 2017-HQA3, Class B1, 9.893% (SOFR30A + 4.564%) due 4/25/30  4/29/2021   4,504,500    4,633,051    0.57%
Calidi Biotherapeutics Inc.  9/10/2021   306    147,714    0.02%
Structure Therapeutics Inc., ADR  8/29/2023   2,254,988    5,205,177    0.64%
           $27,688,222    3.38%

 

Abbreviations used in this schedule:
CLO — Collateralized Loan Obligation
CMT — Constant Maturity Treasury Index
ETF — Exchange Traded Fund
LLC — Limited Liability Company
REMIC — Real Estate Mortgage Investment Conduit
SOFR — Secured Overnight Financing Rate
SPACs — Special Purpose Acquisition Companies
SPDR — Standard & Poor's Depository Receipts
TSFR — CME Term SOFR Reference Rate
 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Multi Strategy Alternatives Fund (continued)

 

Summary of Investments by Security Type^     
Open-End Funds   20.1%
Asset-Backed Securities   18.7 
Collateralized Mortgage Obligations   17.1 
Corporate Bonds & Notes   15.4 
Common Stocks   11.9 
Senior Loan   1.4 
Preferred Stock   1.0 
Equity Linked Note   0.4 
Warrants   0.0*
Purchased Option   0.0*
Short-Term Investments   13.9 
Money Market Fund   0.1 
    100.0%

 

 

^ As a percentage of total investments.

* Position represents less than 0.005%.

 

Schedule of Options Contracts Written

Equity Options

 

Number of
Contracts		   Notional
Amount		   Security Name  Counterparty   Expiration
Date		  Exercise
Rate		   Value 
2,345   $2,558,395   Target Hospitality Corp., Call   GSC   1/19/24  $20.00   $175,875 
         TOTAL OPTION CONTRACTS WRITTEN                  
         (Premiums received — $179,323)               $175,875 

 

OTC Total Return Swaps

 

Currency   Notional
Amount		   Maturity
Date		  Counterparty   Payment
Frequency		  Pay   Receive 

Unrealized
Appreciation/

(Depreciation)

 
USD    9,877,268   1/23/24   GSC   1-Month   USD-Federal Funds-H.15   GSCNNED3 Basket*  $(152,489)
USD    9,529,326   8/30/24   GSC   1-Month   USD-Federal Funds-H.15   GSCBGDEN Basket**   249,345 
USD    8,553,386   8/30/24   GSC   1-Month   USD-Federal Funds-H.15   Cannae Holdings Inc.   (61,467)
                            $35,389 

 

* GSCNNED3 Basket consists of a portfolio of:

 

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

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Multi Strategy Alternatives Fund (continued)

 

** GSCBGDEN Basket consists of a portfolio of:

 

Boyd Gaming Corp.   25%
Red Rock Resorts Inc.   25%
Churchill Downs Inc.   23%
Penn Entertainment Inc.   14%
Caesars Entertainment Inc.   13%
    100%

 

At November 30, 2023, Destinations Multi Strategy Alternatives Fund held the following OTC and Centrally Cleared Credit Default Swap Contracts:

 

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

 

 Reference
Obligation

  Fixed Deal
Receive
Rate		   Maturity
Date		  Payment
Frequency		  Counter party  Implied Credit
Spread at
11/30/23(2)		   Notional
Amounts(3)		   Market
Value		  

Upfront
Premiums
Paid/
(Received)

   Unrealized
Appreciation		 
CDX.NA.HY.35   5.000%  12/20/25  3-Month  MSCS   1.974%   USD    20,000,000   $1,637,565   $651,500   $986,065 
CDX.NA.HY.41   5.000%  12/20/28  3-Month  MSCS   1.974%   USD    30,000,000    2,996,059    1,366,800    1,629,259 
CDX.NA.IG.39   1.000%  12/20/27  3-Month  GSC   2.706%   USD    60,000,000    (2,612,070)   (8,736,000)   6,123,930 
CDX.NA.IG.39   1.000%  12/20/27  3-Month  MSCS   2.706%   USD    20,000,000    (870,689)   (2,630,800)   1,760,111 
                                $1,150,865   $(9,348,500)  $10,499,365 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Multi Strategy Alternatives Fund (concluded)

 

(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.

 

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

 

Face Amount Security  Value 
SECURITIES SOLD SHORT - 4.9%
CORPORATE BOND & NOTE - 1.0%
Consumer Non-cyclical - 1.0%     
$ 8,701,000    Pfizer Investment Enterprises Pte Ltd., Company Guaranteed Notes, 5.300% due 5/19/53  $8,483,779 
       (Proceeds - $8,007,878)     

 

Shares/Units          
           
EXCHANGE TRADED FUNDS (ETFs) - 3.9%     
  46,521    iShares Russell 2000, Class Common Shares   8,357,963 
  194,771    SPDR S&P Biotech   14,709,106 
 154,691   SPDR S&P Regional Banking   6,979,658 
 6,055   VanEck Oil Services   1,890,976 
     Total Exchange Traded Funds (ETFs)   31,937,703 
     TOTAL EXCHANGE TRADED FUNDS (ETFs)     
     (Proceeds - $51,147,496)   31,937,703 
     TOTAL SECURITIES SOLD SHORT - 4.9%     
     (Proceeds - $59,155,374)  $40,421,482 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Municipal Fixed Income Fund

 

Face
Amount/Units		     Rating††   Security  Value 
MUNICIPAL BONDS - 94.8% 
Alabama - 1.6% 
$3,000,000    BBB   County of Jefferson AL Sewer Revenue, Revenue Bonds, Series D, 6.500% due 10/1/53  $3,152,920 
 1,000,000    A1(a)   Health Care Authority of the City of Huntsville, Revenue Bonds, Series A, 5.000% due 6/1/53(b)   1,084,783 
 1,500,000    BB-   Hoover Industrial Development Board, Revenue Bonds, 5.750% due 10/1/49(c)   1,489,883 
 2,540,000    A2(a)   Lower Alabama Gas District, Revenue Bonds, 4.000% due 12/1/50(b)   2,523,780 
          Mobile County Board of School Commissioners, Special Tax:     
 260,000    A   5.000% due 3/1/28   271,002 
 175,000    A   5.000% due 3/1/29   182,403 
 180,000    A   5.000% due 3/1/30   187,476 
 185,000    A   5.000% due 3/1/31   192,625 
 145,000    A   5.000% due 3/1/32   150,770 
 215,000    A   5.000% due 3/1/33   223,297 
 3,500,000    A1(a)   Southeast Alabama Gas Supply District, Revenue Bonds, Series A, 4.000% due 6/1/49(b)   3,494,692 
 1,500,000    NR   Tuscaloosa County Industrial Development Authority, Revenue Bonds, Series A, 5.250% due 5/1/44(d)   1,360,335 
          Total Alabama   14,313,966 
Alaska - 0.1%             
 1,000,000    AA+   Alaska Housing Finance Corp., Revenue Bonds, Series A, 5.000% due 6/1/30   1,064,116 
 215,000    AA-   State of Alaska, GO, Series A, 5.000% due 8/1/33   220,487 
          Total Alaska   1,284,603 
Arizona - 2.8%             
 5,000,000    AA+   Arizona Department of Transportation State Highway Fund Revenue, Revenue Bonds, 5.000% due 7/1/27   5,268,277 
 1,695,000    BB-   Arizona Industrial Development Authority, Revenue Bonds, 5.000% due 7/1/49(d)   1,444,986 
 2,000,000    AA   Arizona State University, Revenue Bonds, Series A, 5.000% due 7/1/39   2,145,235 
          City of Glendale AZ, Revenue Bonds:     
 230,000    AA+   Series A, 5.000% due 7/1/27   236,723 
 215,000    AA+   Series A, 5.000% due 7/1/28   220,783 
 235,000    AA+   Series A, 5.000% due 7/1/29   241,248 
 85,000    AA+   City of Glendale AZ Excise Tax Revenue, Revenue Bonds, Series A, 5.000% due 7/1/32   90,822 
          City of Glendale AZ Transportation Excise Tax Revenue, Revenue Bonds, AGM:     
 55,000    AA+   5.000% due 7/1/24   55,584 
 105,000    AA+   5.000% due 7/1/26   108,118 
          City of Phoenix Civic Improvement Corp., Revenue Bonds:     
 65,000    AA-   Series A, 5.000% due 7/1/27(c)   68,440 
 90,000    AA-   Series A, 5.000% due 7/1/28(c)   94,539 
 6,365,000    AAA   Series B, 4.000% due 7/1/29   6,384,788 
          Maricopa County Industrial Development Authority, Revenue Bonds:     
 200,000    A2(a)   5.000% due 7/1/47   207,012 
 190,000    AA-   Series A, 4.000% due 1/1/24   190,084 
 60,000    AA-   Series A, 5.000% due 1/1/24   60,071 
 225,000    AA-   Series A, 5.000% due 1/1/25   229,095 
 735,000    A2(a)   Series B, 5.000% due 9/1/45(b)   742,216 
 290,000    AA-   Series C, 5.000% due 1/1/48(b)   293,801 
 800,000    AA-   Series D, 5.000% due 1/1/46(b)   831,365 
 2,000,000    A-   Maricopa County Pollution Control Corp., Revenue Bonds, 2.400% due 6/1/35   1,522,731 
 3,000,000    AA+   Salt River Project Agricultural Improvement & Power District, Revenue Bonds, Series A, 4.000% due 12/1/33   3,027,114 
 1,000,000    NR   Sierra Vista Industrial Development Authority, Revenue Bonds, 5.750% due 6/15/58(d)   970,801 
 310,000    AA-   State of Arizona, COP, Series A, 5.000% due 10/1/24   314,544 
          Total Arizona   24,748,377 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount/Units		     Rating††   Security  Value 
Arkansas - 0.4% 
          Arkansas Development Finance Authority, Revenue Bonds:     
$2,000,000    BB-   4.500% due 9/1/49(c)(d)  $1,926,043 
 1,150,000    BB-   5.700% due 5/1/53(c)   1,149,931 
          Total Arkansas   3,075,974 
California - 3.3%            
 205,000    AA   Bay Area Toll Authority, Revenue Bonds, Series B, 2.850% due 4/1/47(b)   202,621 
 1,845,000    NR   California Community Housing Agency, Revenue Bonds, 4.000% due 2/1/50(d)   1,298,791 
 115,000    A   California Health Facilities Financing Authority, Revenue Bonds, Series A, 5.000% due 7/1/25   115,074 
 3,000,000    BB-   California Municipal Finance Authority, Revenue Bonds, 4.000% due 7/15/29(c)   2,900,593 
          California Statewide Communities Development Authority, Revenue Bonds:     
 2,525,000    BB   5.500% due 12/1/54   2,530,326 
 1,000,000    BB   Series A, 5.000% due 12/1/46(d)   980,645 
          City of Los Angeles Department of Airports, Revenue Bonds:     
 650,000    AA-   4.000% due 5/15/38(c)   644,079 
 675,000    AA-   4.000% due 5/15/39(c)   663,055 
 650,000    AA-   4.000% due 5/15/40(c)   637,323 
 1,000,000    NR   CMFA Special Finance Agency, Revenue Bonds, Series A, 4.000% due 12/1/45(d)   766,592 
          CSCDA Community Improvement Authority, Revenue Bonds:     
 3,000,000    NR   3.000% due 6/1/47(d)   2,082,216 
 1,000,000    NR   3.000% due 12/1/56(d)   648,961 
 1,000,000    NR   4.000% due 8/1/56(d)   724,990 
          Golden State Tobacco Securitization Corp., Revenue Bonds:     
 175,000    A+   Series A, AMBAC, zero coupon, due 6/1/24   172,346 
 115,000    NR   Series A1, 5.000% due 6/1/25   118,434 
 30,000    NR   Series A1, 5.000% due 6/1/26   31,585 
 290,000    AA-   Los Angeles Department of Water & Power, Revenue Bonds, Series A, 5.000% due 7/1/29   296,439 
          Oakland Unified School District, GO:     
 100,000    AA   AGM, 5.000% due 8/1/26   103,599 
 30,000    A-   Series A, 5.000% due 8/1/28   31,007 
 90,000    A   Sacramento City Financing Authority, Special Tax, Series A, NPFG, zero coupon, due 12/1/26   81,045 
 185,000    A+   San Francisco City & County Airport Comm-San Francisco International Airport, Revenue Bonds, Series A, 5.000% due 5/1/37(c)   194,198 
 1,800,000    AAA   San Jose Financing Authority, Revenue Bonds, Series B, 5.000% due 11/1/42   2,010,004 
 400,000    AA+   Santa Clara County Financing Authority, Revenue Bonds, Series A, 3.000% due 5/1/39   340,834 
          State of California, GO:     
 760,000    AA-   4.000% due 3/1/26   778,439 
 2,915,000    AA-   4.000% due 9/1/43   2,956,013 
 2,250,000    AA-   5.000% due 9/1/26   2,384,669 
 80,000    AA-   5.000% due 9/1/29   84,475 
 4,100,000    AA-   5.000% due 3/1/31   4,186,888 
 435,000    AA-   Series B, 5.000% due 8/1/26   460,112 
 205,000    AA-   Series C, 5.000% due 8/1/29   216,151 
 100,000    A2(a)   Washington Township Health Care District, GO, Series A, 5.500% due 8/1/40   100,614 
          Total California   28,742,118 
Colorado - 2.6%             
 1,000,000    AA   Adams 12 Five Star Schools, GO, Series B, 5.000% due 12/15/34   1,050,865 
 2,000,000    AA   Board of Governors of Colorado State University System, Revenue Bonds, Series C, 4.000% due 3/1/38   2,019,229 
          City & County of Denver CO Airport System Revenue, Revenue Bonds:     
 65,000    AA-   Series A, 5.000% due 11/15/24(c)   65,730 
 315,000    A+   Series A, 5.000% due 12/1/26(c)   327,801 
 30,000    AA-   Series A, 5.000% due 11/15/27(c)   31,773 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount/Units		     Rating††   Security  Value 
Colorado - 2.6% - (continued)         
$2,695,000    AA-   Series A, 5.000% due 11/15/28(c)  $2,889,848 
 455,000    AA-   Series A, 5.000% due 11/15/29(c)   479,589 
 115,000    AA-   Series A, 5.000% due 11/15/30(c)   121,018 
 3,400,000    AA-   Series D, 5.500% due 11/15/30(c)   3,843,718 
          Colorado Health Facilities Authority, Revenue Bonds:     
 190,000    Baa1(a)   5.000% due 9/1/46   190,833 
 580,000    AA   5.000% due 11/15/49(b)   608,717 
 325,000    A-   Series B2, 5.000% due 8/1/49(b)   334,030 
 60,000    NR   Series Prerefunded 11/19/26 @ 100, 5.000% due 11/15/49(b)(e)   63,529 
 60,000    AA   Colorado Housing & Finance Authority, Revenue Bonds, Series H, 4.250% due 11/1/49   59,752 
 3,000,000    Aa2(a)   Gunnison Watershed School District No Re 1J, GO, 5.000% due 12/1/47   3,238,226 
 3,775,000    AA-   State of Colorado, COP, Series A, 4.000% due 12/15/39   3,798,366 
 1,435,000    Aa1(a)   University of Colorado, Revenue Bonds, Series C, 2.000% due 6/1/54(b)   1,410,632 
          Vauxmont Metropolitan District, GO, AGM:     
 125,000    AA   5.000% due 12/15/27   130,968 
 120,000    AA   5.000% due 12/15/29   125,704 
 135,000    AA   5.000% due 12/15/31   141,403 
 285,000    AA   5.000% due 12/1/34   311,487 
 1,750,000    NR   Village Metropolitan District, GO, 5.000% due 12/1/49   1,614,098 
          Total Colorado   22,857,316 
Connecticut - 1.1%         
          Connecticut State Health & Educational Facilities Authority, Revenue Bonds:     
 505,000    AA-   Series B, 1.800% due 7/1/49(b)   497,908 
 65,000    A   Series S, 5.000% due 7/1/26   67,891 
 30,000    A   Series S, 5.000% due 7/1/29   32,224 
          State of Connecticut, GO:     
 90,000    AA-   Series A, 5.000% due 3/15/26   94,186 
 375,000    AA-   Series A, 5.000% due 4/15/26   393,188 
 150,000    AA-   Series A, 5.000% due 4/15/30   166,340 
 170,000    AA-   Series A, 5.000% due 4/15/34   186,986 
 60,000    AA-   Series A, 5.000% due 4/15/35   65,712 
 175,000    AA-   Series B, 5.000% due 1/15/26   182,461 
 2,100,000    AA-   Series D, 5.000% due 7/15/25   2,167,935 
 100,000    AA-   Series E, 5.000% due 10/15/26   106,075 
 150,000    AA-   Series E, 5.000% due 10/15/29   158,137 
          State of Connecticut Special Tax Revenue, Revenue Bonds:     
 2,425,000    AA   Series A, 5.000% due 7/1/39   2,704,425 
 2,500,000    AA   Series A, 5.250% due 7/1/43   2,815,823 
 330,000    AA-   University of Connecticut, Revenue Bonds, Series A, 5.000% due 11/1/27   356,689 
          Total Connecticut   9,995,980 
Delaware - 0.4%          
          Delaware River & Bay Authority, Revenue Bonds:     
 35,000    A   Series C, 5.000% due 1/1/24   35,043 
 80,000    A   Series C, 5.000% due 1/1/25   80,103 
 3,160,000    NR   State of Delaware, GO, Series B, Prerefunded 7/1/24 @ 100, 5.000% due 7/1/27(e)   3,192,857 
          Total Delaware   3,308,003 
District of Columbia - 1.6%         
          District of Columbia, GO:     
 1,500,000    AA+   Series A, 5.000% due 6/1/34   1,534,301 
 2,000,000    AA+   Series C, 5.000% due 6/1/34   2,017,296 
 2,500,000    AA+   District of Columbia Water & Sewer Authority, Revenue Bonds, Series C, 5.000% due 10/1/27   2,536,375 
          Metropolitan Washington Airports Authority Aviation Revenue, Revenue Bonds:     
 2,625,000    AA-   Series A, 5.000% due 10/1/24(c)   2,650,633 
 115,000    AA-   Series A, 5.000% due 10/1/28(c)   123,261 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount/Units		     Rating††   Security  Value 
District of Columbia - 1.6% - (continued) 
$95,000    AA-   Series A, 5.000% due 10/1/30(c)  $100,991 
 205,000    AA-   Series A, 5.000% due 10/1/31(c)   217,268 
 60,000    AA-   Series A, 5.000% due 10/1/34(c)   62,927 
 55,000    AA-   Series A, 5.000% due 10/1/36(c)   57,163 
 400,000    A-   Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Revenue Bonds, Series B, 4.000% due 10/1/35   402,037 
 240,000    AA-   Washington Metropolitan Area Transit Authority, Revenue Bonds, Series B, 5.000% due 7/1/34   253,350 
          Washington Metropolitan Area Transit Authority Dedicated Revenue, Revenue Bonds:     
 1,250,000    AA   5.000% due 7/15/36   1,440,458 
 1,000,000    AA   5.000% due 7/15/37   1,139,123 
 1,000,000    AA   5.000% due 7/15/38   1,127,275 
          Total District of Columbia   13,662,458 
Florida - 7.1%              
          Brevard County School District, COP:     
 95,000    Aa3(a)   5.000% due 7/1/27   95,836 
 215,000    Aa3(a)   5.000% due 7/1/30   216,598 
 85,000    Aa3(a)   Series C, 5.000% due 7/1/24   85,830 
          Capital Trust Agency Inc., Revenue Bonds:     
 500,000    BB   6.375% due 5/1/53(d)   492,456 
 450,000    NR   Series A1, 4.000% due 6/15/29(d)   424,533 
 2,000,000    NR   Series A1, 5.000% due 7/1/56(d)   1,763,185 
 1,495,000    NR   Celebration Pointe Community Development District No 1, Special Assessment, 4.000% due 5/1/53   1,153,726 
          County of Broward FL Airport System Revenue, Revenue Bonds:     
 60,000    A+   5.000% due 10/1/30(c)   63,051 
 90,000    A+   5.000% due 10/1/31(c)   94,528 
 120,000    A+   Series A, 5.000% due 10/1/29(c)   121,335 
 85,000    A+   Series A, 5.000% due 10/1/31(c)   85,658 
 115,000    A+   Series A, 5.000% due 10/1/32(c)   115,883 
 1,000,000    A+   Series B, 5.000% due 10/1/29(c)   1,078,059 
          County of Hillsborough FL Solid Waste & Resource Recovery Revenue, Revenue Bonds:     
 65,000    AA+   Series A, 5.000% due 9/1/24(c)   65,571 
 65,000    AA+   Series A, 5.000% due 9/1/26(c)   68,118 
          County of Miami-Dade FL, Revenue Bonds:     
 160,000    A+   5.000% due 10/1/28   167,379 
 120,000    A+   5.000% due 10/1/29   125,204 
 215,000    A+   5.000% due 10/1/30   224,088 
          County of Miami-Dade FL Aviation Revenue, Revenue Bonds:     
 290,000    A   Series A, 5.000% due 10/1/24(c)   290,336 
 55,000    A   Series A, 5.000% due 10/1/27(c)   55,263 
 80,000    A   Series A, 5.000% due 10/1/29(c)   80,279 
 70,000    A   Series A, 5.000% due 10/1/30   72,655 
 30,000    A   Series A, 5.000% due 10/1/31   31,126 
 160,000    A   Series A, 5.000% due 10/1/33(c)   160,399 
 5,000,000    A   Series A, 5.000% due 10/1/34(c)   5,012,025 
 70,000    A   Series A, 5.000% due 10/1/35(c)   70,174 
 65,000    A   Series B, 5.000% due 10/1/24   65,077 
 215,000    A   Series B, 5.000% due 10/1/37   216,229 
 500,000    A   Series B, 5.000% due 10/1/40(c)   505,777 
 10,000,000    AA-   County of Miami-Dade FL Water & Sewer System Revenue, Revenue Bonds, Series B, 5.000% due 10/1/44   10,431,318 
          County of Miami-Dade Seaport Department, Revenue Bonds:     
 2,430,000    A3(a)   Series A, 5.000% due 10/1/32(c)   2,678,711 
 1,250,000    A3(a)   Series A, 5.000% due 10/1/47(c)   1,279,824 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount/Units		     Rating††   Security  Value 
Florida - 7.1% - (continued)         
          Duval County Public Schools, COP:     
$125,000    A+   Series B, 5.000% due 7/1/27  $128,383 
 30,000    A+   Series B, 5.000% due 7/1/28   30,803 
 190,000    A+   Series B, 5.000% due 7/1/30   194,936 
          Florida Development Finance Corp., Revenue Bonds:     
 1,125,000    NR   6.125% due 7/1/32(b)(c)(d)   1,128,140 
 600,000    NR   Series A, 6.750% due 6/15/53(d)   608,389 
 1,600,000    NR   Florida Higher Educational Facilities Financial Authority, Revenue Bonds, 5.000% due 6/1/48(d)   1,403,432 
 2,000,000    A   Florida Insurance Assistance Interlocal Agency Inc., Revenue Bonds, Series A1, 5.000% due 9/1/25   2,038,540 
          Florida Municipal Power Agency, Revenue Bonds:     
 30,000    A2(a)   5.000% due 10/1/24   30,413 
 45,000    A2(a)   5.000% due 10/1/27   46,261 
 55,000    A2(a)   Series A, 5.000% due 10/1/30   57,250 
 60,000    A2(a)   Series A, 5.000% due 10/1/31   62,388 
          Greater Orlando Aviation Authority, Revenue Bonds:     
 1,000,000    NR   5.000% due 11/15/36(c)   989,520 
 100,000    A+   Series A, Prerefunded 10/1/27 @ 100, 5.000% due 10/1/28(c)(e)   106,479 
 60,000    A+   Series A, Prerefunded 10/1/27 @ 100, 5.000% due 10/1/30(c)(e)   63,887 
          Halifax Hospital Medical Center, Revenue Bonds:     
 35,000    A-   Series Prerefunded 6/1/25 @ 100, 5.000% due 6/1/28(e)   35,968 
 70,000    A-   Series Prerefunded 6/1/25 @ 100, 5.000% due 6/1/35(e)   71,935 
          Hillsborough County Port District, Revenue Bonds:     
 850,000    A+(f)   Series B, 5.000% due 6/1/33(c)   899,143 
 185,000    A+(f)   Series B, 5.000% due 6/1/38(c)   190,396 
 75,000    AA-   Indian River County District School Board, COP, Series A, 5.000% due 7/1/24   75,647 
          JEA Electric System Revenue, Revenue Bonds:     
 200,000    A   Series B, 5.000% due 10/1/26   210,893 
 5,000,000    A+   Series C1, 3.220% due 10/1/34(b)   5,000,000 
          Lake County School Board, COP, AGM:     
 30,000    AA   Series A, Prerefunded 6/1/24 @ 100, 5.000% due 6/1/25(e)   30,216 
 50,000    AA   Series A, Prerefunded 6/1/24 @ 100, 5.000% due 6/1/26(e)   50,359 
 15,000    AA   Series A, Prerefunded 6/1/24 @ 100, 5.000% due 6/1/28(e)   15,108 
 500,000    NR   Lakewood Ranch Stewardship District, Special Assessment, 6.300% due 5/1/54   507,419 
          Lee Memorial Health System, Revenue Bonds:     
 550,000    A+   Series A1, 5.000% due 4/1/33   590,616 
 515,000    A+   Series A1, 5.000% due 4/1/35   550,463 
 755,000    A+   Series A2, 5.000% due 4/1/33(b)   774,007 
 2,000,000    A-   Miami-Dade County Educational Facilities Authority, Revenue Bonds, Series B, AMBAC-Insured, 5.250% due 4/1/25   2,045,512 
          Miami-Dade County Expressway Authority, Revenue Bonds:     
 45,000    A   Series A, 5.000% due 7/1/31   46,506 
 115,000    A   Series A, 5.000% due 7/1/32   118,877 
 95,000    A   Series A, 5.000% due 7/1/33   98,179 
 30,000    A   Series A, 5.000% due 7/1/34   30,982 
 235,000    A   Series A, 5.000% due 7/1/40   235,059 
 85,000    A   Series A, 5.000% due 7/1/44   85,108 
 200,000    A+   Orange County Health Facilities Authority, Revenue Bonds, Series A, 5.000% due 10/1/39   203,705 
 200,000    Aa2(a)   Orange County School Board, COP, Series C, Prerefunded 8/1/25 @ 100, 5.000% due 8/1/29(e)   206,040 
          Palm Beach County Health Facilities Authority, Revenue Bonds:     
 10,000    WD(f)   5.000% due 12/1/23   10,000 
 20,000    WD(f)   5.000% due 12/1/24   20,317 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount/Units		     Rating††   Security  Value 
Florida - 7.1% - (continued)         
          Palm Beach County School District, COP:     
$40,000    Aa3(a)   Series A, 5.000% due 8/1/24  $40,449 
 705,000    Aa3(a)   Series A, 5.000% due 8/1/26   743,287 
 300,000    Aa3(a)   Series B, 5.000% due 8/1/26   308,634 
 240,000    Aa3(a)   Series B, 5.000% due 8/1/27   246,712 
 695,000    Aa3(a)   Series D, 5.000% due 8/1/26   715,003 
 315,000    Aa3(a)   Series D, 5.000% due 8/1/27   323,809 
 110,000    Aa3(a)   Series D, 5.000% due 8/1/28   113,022 
 300,000    AA   Pasco County School Board, COP, Series D, AGM-Insured, 5.000% due 8/1/30   339,005 
          School Board of Miami-Dade County, COP:     
 120,000    AA   AGM, Series A, 5.000% due 5/1/27   122,822 
 570,000    A+   Series A, 5.000% due 5/1/31   592,834 
 220,000    A+   Series B, 5.000% due 8/1/27   230,603 
 395,000    A+   Series B, 5.000% due 5/1/28   403,242 
 340,000    A+   Series D, 5.000% due 11/1/24   344,863 
 355,000    A+   Series D, 5.000% due 11/1/25   360,463 
 230,000    A+   Series D, 5.000% due 11/1/26   233,229 
 115,000    A+   Series D, 5.000% due 2/1/29   118,925 
 190,000    A+   Series D, 5.000% due 2/1/30   196,364 
          School District of Broward County, COP:     
 330,000    A+   Series A, 5.000% due 7/1/26   338,723 
 265,000    A+   Series A, 5.000% due 7/1/27   272,499 
 115,000    A+   Series A, 5.000% due 7/1/28   118,058 
 70,000    A+   Series A, 5.000% due 7/1/32   72,433 
 335,000    A+   Series B, 5.000% due 7/1/26   343,855 
 230,000    A+   Series B, 5.000% due 7/1/27   236,508 
 390,000    A+   Series B, 5.000% due 7/1/28   400,369 
 50,000    Aa3(a)   Seminole County School Board, COP, Series C, 5.000% due 7/1/24   50,488 
 115,000    AA   South Florida Water Management District, COP, 5.000% due 10/1/30   119,889 
 75,000    AA-   South Miami Health Facilities Authority, Revenue Bonds, 5.000% due 8/15/24   75,789 
 5,995,000    AAA   State of Florida, GO, 5.000% due 7/1/32   6,525,318 
 70,000    AA+   Tampa Bay Water, Revenue Bonds, Series A, NPFG, 6.000% due 10/1/29   82,224 
          Volusia County Educational Facility Authority, Revenue Bonds:     
 150,000    A2(a)   4.000% due 10/15/36   150,943 
 80,000    A2(a)   5.000% due 10/15/44   82,784 
 150,000    A2(a)   5.000% due 10/15/49   154,049 
          Volusia County School Board, COP:     
 600,000    Aa3(a)   5.000% due 8/1/24   606,729 
 145,000    AA   Series A, 5.000% due 8/1/32   149,836 
          Total Florida   61,595,267 
Georgia - 1.7%          
          City of Atlanta GA Water & Wastewater Revenue, Revenue Bonds:     
 30,000    AA-   5.000% due 11/1/27   30,787 
 70,000    AA-   5.000% due 11/1/29   71,769 
 2,000,000    AA-   5.000% due 11/1/40   2,029,387 
          Development Authority of Burke County, Revenue Bonds:     
 600,000    BBB+   1.700% due 12/1/49(b)   585,514 
 830,000    BBB+   2.925% due 11/1/53(b)   825,454 
 1,000,000    Ba3(a)   Development Authority Of The City Of Marietta, Revenue Bonds, Series A, 5.000% due 11/1/37(d)   903,019 
 155,000    AA-   Fulton County Development Authority, Revenue Bonds, 5.000% due 6/15/44   163,228 
          Main Street Natural Gas Inc., Revenue Bonds:     
 840,000    AA-(f)   Series C, 4.000% due 8/1/48(b)   840,000 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount/Units		     Rating††   Security  Value 
Georgia - 1.7% - (continued)         
$2,000,000    BBB-   Series C, 4.000% due 8/1/52(b)(d)  $1,898,002 
 1,500,000    Aa1(a)   Series C, 5.000% due 9/1/53(b)   1,566,874 
          Municipal Electric Authority of Georgia, Revenue Bonds:     
 160,000    A-   Series A, 5.000% due 1/1/27   167,649 
 145,000    A-   Series A, 5.000% due 1/1/30   155,490 
 105,000    A   Series GG, 5.000% due 1/1/24   105,087 
 35,000    A   Series GG, 5.000% due 1/1/25   35,031 
 145,000    A   Series GG, 5.000% due 1/1/26   145,106 
 40,000    AA-   Municipal Gas Authority of Georgia, Revenue Bonds, Series U, 5.000% due 10/1/24   40,524 
 5,000,000    AAA   State of Georgia, GO, Series A, 5.000% due 7/1/29   5,492,738 
          Total Georgia   15,055,659 
Hawaii - 1.2%             
 2,500,000    Aa2(a)   City & County Honolulu HI Wastewater System Revenue, Revenue Bonds, Series A, 4.125% due 7/1/47   2,473,270 
          City & County of Honolulu HI, GO:     
 7,105,000    Aa2(a)   Series C, 4.000% due 10/1/32   7,238,157 
 90,000    Aa2(a)   Series D, 5.000% due 9/1/26   95,167 
 500,000    AA+   State of Hawaii, GO, Series FH, 5.000% due 10/1/28   526,885 
          Total Hawaii   10,333,479 
Idaho - 0.8%             
 1,500,000    NR   Idaho Falls Auditorium District, COP, 5.250% due 5/15/51(d)   1,397,033 
 1,000,000    NR   Idaho Health Facilities Authority, Revenue Bonds, 7.125% due 11/1/57   1,034,112 
          Idaho Housing & Finance Association, Revenue Bonds:     
 35,000    A2(a)   5.000% due 7/15/24   35,365 
 95,000    A2(a)   5.000% due 7/15/27   101,960 
 1,000,000    Aa1(a)   5.000% due 8/15/41   1,103,784 
 50,000    Aa1(a)   Series A, 4.000% due 1/1/50   49,617 
 250,000    A2(a)   Series A, 5.000% due 7/15/30   279,441 
 250,000    A2(a)   Series A, 5.000% due 7/15/31   282,417 
 2,380,000    Aa1(a)   Kootenai County School District No 271 Coeur d'Alene, GO, 4.000% due 9/15/28   2,462,833 
          Total Idaho   6,746,562 
Illinois - 4.3%             
          Chicago Board of Education, GO:     
 1,040,000    BB+   Series A, 5.000% due 12/1/47   991,662 
 2,500,000    BB+   Series E, 5.125% due 12/1/32   2,504,156 
 2,075,000    AA   Chicago Board of Education Dedicated Capital Improvement Tax, Revenue Bonds, 5.750% due 4/1/48   2,236,940 
          Chicago Midway International Airport, Revenue Bonds:     
 65,000    A   Series A, 5.000% due 1/1/29(c)   66,080 
 100,000    A   Series A, 5.000% due 1/1/30(c)   101,642 
 70,000    A   Series A, 5.000% due 1/1/31(c)   71,060 
 190,000    A   Series A, 5.000% due 1/1/32(c)   190,009 
 95,000    A   Series B, 5.000% due 1/1/24   95,102 
          Chicago O'Hare International Airport, Revenue Bonds:     
 75,000    BBB+   5.000% due 7/1/38(c)   75,748 
 125,000    A+   Series A, 5.000% due 1/1/24(c)   125,097 
 270,000    A+   Series A, 5.000% due 1/1/29   284,892 
 200,000    A+   Series A, 5.000% due 1/1/48(c)   203,132 
 285,000    A+   Series B, 5.000% due 1/1/32   288,582 
 1,635,000    A+   Series B, 5.000% due 1/1/41   1,659,673 
 120,000    A+   Series B, 5.000% due 1/1/53   122,210 
 45,000    A+   Series C, 5.000% due 1/1/24   45,055 
 65,000    A+   Series C, 5.000% due 1/1/25   66,218 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount/Units		     Rating††   Security  Value 
Illinois - 4.3% - (continued)         
$60,000    A+   Series C, 5.000% due 1/1/26  $62,443 
 80,000    A+   Series C, 5.000% due 1/1/34   82,319 
 60,000    A+   Series D, 5.000% due 1/1/27(c)   62,441 
 15,000    A+   Series D, 5.000% due 1/1/28(c)   15,640 
 85,000    A+   Series D, 5.000% due 1/1/31(c)   88,512 
 45,000    A+   Series D, 5.000% due 1/1/33(c)   46,821 
 1,000,000    A+   City of Chicago IL Wastewater Transmission Revenue, Revenue Bonds, 5.000% due 1/1/33   1,000,442 
 1,000,000    AA   City of Chicago IL Waterworks Revenue, Revenue Bonds, Series A, AGM-Insured, 5.500% due 11/1/62   1,079,297 
 155,000    Aaa(a)   Cook Kane Lake & McHenry Counties Community College District No 512, GO, Series B, 5.000% due 12/1/24   157,469 
 500,000    A+   County of Cook IL, GO, Series A, 5.000% due 11/15/24   507,485 
 35,000    Aa3(a)   Grundy & Will Counties Community Unit School District No 1 Coal City, GO, 5.000% due 2/1/29(g)   36,954 
          Illinois Finance Authority, Revenue Bonds:     
 60,000    AA+   5.000% due 7/15/26   62,917 
 75,000    A+   5.000% due 11/15/26   75,056 
 25,000    A3(a)   5.000% due 8/15/27   25,548 
 70,000    A   5.000% due 5/15/28   72,455 
 60,000    AA+   5.000% due 7/15/28   64,710 
 40,000    A   5.000% due 5/15/29   41,287 
 25,000    A+   5.000% due 11/15/29   25,018 
 110,000    A2(a)   5.000% due 12/1/29   113,499 
 145,000    AAA   5.000% due 1/1/30   153,828 
 330,000    AA-   5.000% due 8/15/30   367,582 
 255,000    AAA   5.000% due 7/1/31   270,673 
 175,000    A3(a)   5.000% due 8/15/35   177,306 
 100,000    A2(a)   5.000% due 12/1/46   100,897 
 25,000    BBB+   5.000% due 8/1/49   25,095 
 495,000    AA-   Series A, 5.000% due 2/15/24   496,504 
 95,000    AA-   Series A, 5.000% due 2/15/25   96,717 
 45,000    AA-   Series A, 5.000% due 2/15/26   46,665 
 30,000    A   Series A, 5.000% due 11/15/27   30,791 
 35,000    A   Series A, 5.000% due 11/15/28   35,886 
 55,000    A   Series A, 5.000% due 11/15/29   56,268 
 100,000    A   Series A, 5.000% due 11/15/32   101,640 
 60,000    A+   Series A, 5.000% due 11/15/34   60,627 
 2,000,000    A+   Series A, 5.000% due 11/15/38   2,007,691 
 20,000    BBB+   Series A, 5.000% due 8/1/47   20,110 
 75,000    Aa3(a)   Series A, Prerefunded 7/1/26 @ 100, 5.000% due 7/1/30(e)   78,848 
 50,000    Aa3(a)   Series A, Prerefunded 7/1/26 @ 100, 5.000% due 7/1/34(e)   52,565 
 255,000    Aa3(a)   Series A, Prerefunded 7/1/26 @ 100, 5.000% due 7/1/36(e)   268,082 
 95,000    WD(f)   Series A, Prerefunded 8/15/26 @ 100, 5.000% due 8/15/33(e)   99,500 
 15,000    WD(f)   Series A, Prerefunded 9/1/24 @ 100, 5.000% due 9/1/34(e)   15,186 
 85,000    A+   Series B, 5.000% due 11/15/26   86,673 
 35,000    AA+   Series C, 3.750% due 2/15/34   34,245 
 160,000    AA+   Series C, 4.000% due 2/15/36   161,057 
 15,000     AA+   Series C, 5.000% due 2/15/24    15,049  
 75,000     AA+   Series C, 5.000% due 2/15/26    77,743  
 200,000     AA+   Series C, 5.000% due 2/15/28    210,613  
 135,000     AA+   Series C, 5.000% due 2/15/29    141,593  
 50,000     AA+   Series C, 5.000% due 2/15/31    52,256  
 365,000     AA+   Series C, 5.000% due 2/15/32    380,969  
 145,000     AA+   Series C, 5.000% due 2/15/33    151,109  

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Municipal Fixed Income Fund (continued)

 

Face
Amount/Units		     Rating††   Security  Value 
Illinois - 4.3% - (continued)       
$65,000    AA+   Series C, 5.000% due 2/15/36  $67,013 
 205,000    AA+   Series C, 5.000% due 2/15/41   208,686 
 170,000    AA-   Series Prerefunded 1/1/27 @ 100, 5.000% due 1/1/36(e)   180,221 
 870,000    AA-   Series Prerefunded 1/1/28 @ 100, 5.000% due 1/1/38(e)   938,915 
 1,300,000    AA-   Series Prerefunded 1/1/28 @ 100, 5.000% due 1/1/44(e)   1,402,977 
 20,000    NR   Series Prerefunded 2/15/27 @ 100, 4.000% due 2/15/41(e)   20,553 
          Illinois Municipal Electric Agency, Revenue Bonds:     
 290,000    A   Series A, 5.000% due 2/1/28   297,196 
 105,000    A   Series A, 5.000% due 2/1/31   107,197 
 1,000,000    A   Series A, 5.000% due 2/1/32   1,020,111 
          Illinois State Toll Highway Authority, Revenue Bonds:     
 50,000    AA-   Series A, 5.000% due 12/1/31   51,647 
 1,500,000    AA-   Series B, 5.000% due 1/1/36   1,501,166 
 175,000    AA-   Series D, 5.000% due 1/1/24   175,239 
          Kane McHenry Cook & De Kalb Counties Unit School District No 300, GO:     
 260,000    AA   5.000% due 1/1/26   263,601 
 55,000    AA   5.000% due 1/1/29   58,460 
 1,045,000    Aa1(a)   Maine Township High School District No 207, GO, Series 2022, 4.000% due 12/1/25   1,060,893 
 230,000    AA   McHenry & Kane Counties Community Consolidated School District No 158 Huntley, GO, AGM, zero coupon, due 1/1/24   229,364 
          McHenry County Community Unit School District No 200 Woodstock, GO:     
 225,000    Aa2(a)   Series B, NPFG, zero coupon, due 1/15/25   215,962 
 170,000    Aa2(a)   Series B, NPFG, zero coupon, due 1/15/26   157,504 
 215,000    NR   Series NPFG, zero coupon, due 1/15/24   214,131 
          McHenry County Conservation District, GO:     
 65,000    AA+   5.000% due 2/1/24   65,174 
 175,000    AA+   5.000% due 2/1/27   178,627 
 2,000,000    A   Metropolitan Pier & Exposition Authority, Revenue Bonds, 5.000% due 6/15/52   2,008,165 
          State of Illinois, GO:     
 225,000    A-   5.000% due 6/1/25   229,588 
 270,000    A-   5.000% due 2/1/27   279,029 
 180,000    A-   5.000% due 2/1/28   188,615 
 60,000    A-   5.000% due 4/1/28   60,080 
 25,000    A-   5.000% due 5/1/28   25,045 
 165,000    A-   5.000% due 2/1/29   172,688 
 70,000    A-   5.000% due 5/1/32   70,115 
 190,000    A-   5.000% due 5/1/33   190,367 
 305,000    A-   5.250% due 2/1/31   305,094 
 2,000,000    A-   Series A, 5.000% due 3/1/29   2,154,242 
 365,000    A-   Series B, 5.000% due 9/1/24   368,598 
 405,000    A-   Series D, 5.000% due 11/1/25   415,853 
 390,000    A-   Series D, 5.000% due 11/1/26   406,671 
 1,000,000    AAA   Village of Schaumburg IL, GO, 4.000% due 12/1/33   1,035,567 
          Will County Community Unit School District No 365-U Valley View, GO:     
 2,420,000    Aa1(a)   Series A, 5.000% due 11/1/25   2,498,684 
 165,000    AA   Series B, AGM, zero coupon, due 11/1/26   150,061 
          Total Illinois   37,594,438 
Indiana - 2.9%            
 315,000    A+   City of Indianapolis IN Thermal Energy System Revenue, Revenue Bonds, Series A, 5.000% due 10/1/24   319,669 
 805,000    NR   City of Valparaiso IN, Revenue Bonds, 7.000% due 1/1/44(c)   805,971 
 370,000    A-   City of Whiting IN, Revenue Bonds, 5.000% due 12/1/44(b)(c)   373,983 
 300,000    A-   County of St Joseph IN, Revenue Bonds, 4.000% due 4/1/38   284,825 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Municipal Fixed Income Fund (continued) 

 

Face
Amount/Units		  Rating†† Security  Value 
Indiana - 2.9% - (continued)    
      Indiana Finance Authority, Revenue Bonds:     
$30,000  AA- 5.000% due 9/1/26   $31,399 
 15,000  AA- 5.000% due 9/1/29    15,736 
 240,000  AA- 5.000% due 3/1/36    243,059 
 60,000  AA- 5.000% due 9/1/36    62,092 
 1,000,000  AAA 5.000% due 2/1/39    1,114,448 
 4,050,000  AAA 5.000% due 2/1/40    4,504,050 
 4,255,000  AAA 5.000% due 2/1/41    4,718,032 
 70,000  AA Series A, 5.000% due 10/1/26    71,007 
 250,000  AA Series A, 5.000% due 10/1/38    278,869 
 320,000  AA Series B, 2.250% due 12/1/58(b)    312,878 
 7,500,000  AA+ Indiana Health Facility Financing Authority, Revenue Bonds, Series E6, 3.320% due 11/15/39(b)    7,500,000 
 185,000  Aaa(a) Indiana Housing & Community Development Authority, Revenue Bonds, Series B, 3.500% due 1/1/49    181,605 
 515,000  AAA Indiana University, Revenue Bonds, Series W1, 5.000% due 8/1/26    521,126 
      Indianapolis Local Public Improvement Bond Bank, Revenue Bonds:     
 255,000  A1(a) 5.000% due 1/1/25(c)    258,265 
 550,000  A1(a) 5.000% due 1/1/35(c)    602,477 
 550,000  A1(a) 5.250% due 1/1/36(c)    609,517 
 600,000  A1(a) 5.250% due 1/1/37(c)    658,248 
 1,500,000  A1(a) 5.250% due 1/1/41(c)    1,602,524 
      Total Indiana    25,069,780 
Iowa - 1.2%    
 1,155,000  Aa1(a) City of Cedar Rapids IA, GO, Series A, 5.000% due 6/1/25    1,165,342 
      Iowa Finance Authority, Revenue Bonds:     
 1,000,000  BB+ 4.750% due 8/1/42    952,340 
 2,000,000  BBB- 5.000% due 12/1/50    1,965,091 
 6,440,000  A3(a) PEFA Inc., Revenue Bonds, 5.000% due 9/1/49(b)    6,532,766 
      Total Iowa    10,615,539 
Kansas - 0.0%
 25,000  SP-1+ City of Maize KS, GO, Series B, 4.000% due 10/1/26    25,095 
      Wyandotte County-Kansas City Unified Government Utility System Revenue, Revenue Bonds:     
 30,000  A Series A, 5.000% due 9/1/30    30,759 
 35,000  A Series A, 5.000% due 9/1/32    35,873 
      Total Kansas    91,727 
Kentucky - 1.4%
      Kenton County Airport Board, Revenue Bonds:     
 25,000  A1(a) 5.000% due 1/1/25    25,482 
 15,000  A1(a) 5.000% due 1/1/26    15,611 
 45,000  A1(a) 5.000% due 1/1/29    46,407 
 50,000  A1(a) 5.000% due 1/1/30    51,423 
 5,000,000  A2(a) Kentucky Public Energy Authority, Revenue Bonds, Series B, 4.000% due 1/1/49(b)    4,963,392 
      Kentucky State Property & Building Commission, Revenue Bonds:     
 160,000  A 5.000% due 4/1/27    170,770 
 145,000  A 5.000% due 5/1/28    156,708 
 15,000  A 5.000% due 5/1/29    16,171 
 40,000  AA 5.000% due 5/1/31    43,328 
 165,000  A Series A, 5.000% due 2/1/29    171,050 
 170,000  A Series A, 5.000% due 2/1/30    176,017 
 65,000  A Series A, 5.000% due 2/1/32    67,122 
 80,000  A Series A, 5.000% due 2/1/33    82,595 
 325,000  A Series B, 5.000% due 11/1/26    344,456 
 35,000  A1(a) Series D, 5.000% due 5/1/26    36,676 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Municipal Fixed Income Fund (continued) 

 

Face
Amount/Units		  Rating†† Security  Value 
Kentucky - 1.4% - (continued)
$30,000  A1(a) Series D, 5.000% due 5/1/27   $32,054 
 30,000  A1(a) Series D, 5.000% due 5/1/28    31,918 
 2,000,000  AA Louisville & Jefferson County Metropolitan Sewer District, Revenue Bonds, Series A, 3.000% due 5/15/44    1,542,187 
      Louisville/Jefferson County Metropolitan Government, Revenue Bonds:     
 3,200,000  A 5.000% due 10/1/47(b)    3,415,024 
 525,000  A Series A, 5.000% due 10/1/29    541,684 
      Total Kentucky    11,930,075 
Louisiana - 1.2%
 2,500,000  AA- East Baton Rouge Sewerage Commission, Revenue Bonds, Series A, 4.000% due 2/1/45    2,422,672 
 265,000  AA+ Lafayette Parish School Board Sale Tax Revenue, Revenue Bonds, 5.000% due 4/1/37    297,356 
 2,800,000  A1(a) Louisiana Local Government Environmental Facilities & Community Development Auth, Revenue Bonds, 5.000% due 8/15/37    2,889,793 
 1,500,000  AA Louisiana Local Government Environmental Facilities & Community Development Authority, Revenue Bonds, 5.000% due 10/1/26    1,573,801 
 85,000  A+ Louisiana Public Facilities Authority, Revenue Bonds, Series A, 5.000% due 12/15/23    85,039 
      New Orleans Aviation Board, Revenue Bonds:     
 70,000  A Series B, 5.000% due 1/1/24(c)    70,053 
 85,000  A Series B, 5.000% due 1/1/25(c)    86,052 
 65,000  A Series B, 5.000% due 1/1/27(c)    65,539 
 10,000  A Series B, 5.000% due 1/1/29(c)    10,361 
 20,000  A Series B, 5.000% due 1/1/31(c)    20,691 
 20,000  A Series B, 5.000% due 1/1/36(c)    20,533 
 15,000  A Series B, 5.000% due 1/1/37(c)    15,334 
 20,000  A Series D2, 5.000% due 1/1/26(c)    20,477 
 15,000  A Series D2, 5.000% due 1/1/29(c)    15,542 
 20,000  A Series D2, 5.000% due 1/1/30(c)    20,699 
 45,000  A Series D2, 5.000% due 1/1/32(c)    46,495 
 35,000  A Series D2, 5.000% due 1/1/35(c)    36,047 
 15,000  A Series D2, 5.000% due 1/1/38(c)    15,224 
 1,000,000  BB- Parish of St James LA, Revenue Bonds, Series 2, 6.350% due 10/1/40(d)    1,075,195 
 450,000  BBB- Parish of St John the Baptist LA, Revenue Bonds, 4.050% due 6/1/37(b)    447,381 
 1,000,000  A2(a) St John the Baptist Parish School District No 1, GO, 5.250% due 3/1/37    1,082,707 
      Total Louisiana    10,316,991 
Maine - 0.2%
 2,500,000  AA+ Maine State Housing Authority, Revenue Bonds, Series B, 3.150% due 11/15/39    2,125,824 
 60,000  AA- Maine Turnpike Authority, Revenue Bonds, 5.000% due 7/1/27    61,847 
      Total Maine    2,187,671 
Maryland - 1.7%
 600,000  NR Anne Arundel County Consolidated Special Taxing District, Special Tax, 5.125% due 7/1/36    601,208 
      City of Baltimore MD, Revenue Bonds:     
 105,000  AA- Series C, 5.000% due 7/1/28    110,911 
 195,000  AA- Series C, 5.000% due 7/1/31    205,632 
 200,000  AA- Series C, 5.000% due 7/1/33    210,723 
 170,000  A+ Series D, 5.000% due 7/1/33    179,114 
 5,805,000  AAA County of Prince George's MD, GO, Series A, 5.000% due 7/15/29    6,394,394 
      Maryland Community Development Administration, Revenue Bonds:     
 175,000  Aa1(a) Series B, 4.000% due 9/1/49    173,578 
 185,000  Aa1(a) Series C, 3.500% due 3/1/50    181,298 
 320,000  Aa1(a) Series C, 5.000% due 9/1/28    344,783 
 390,000  BB Maryland Economic Development Corp., Revenue Bonds, 5.750% due 9/1/25    390,539 
 2,000,000  NR Maryland Economic Development Corp., Special Tax, 4.000% due 9/1/50    1,610,872 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Municipal Fixed Income Fund (continued) 

 

Face
Amount/Units		  Rating†† Security  Value 
Maryland - 1.7% - (continued)
      Maryland Health & Higher Educational Facilities Authority, Revenue Bonds:     
$155,000  BBB+ Series A, 4.000% due 7/1/42   $139,480 
 65,000  BBB+ Series A, 5.000% due 7/1/33    66,532 
 50,000  BBB+ Series A, 5.000% due 7/1/34    51,235 
 20,000  BBB+ Series A, 5.000% due 7/1/35    20,470 
 50,000  BBB+ Series A, 5.000% due 7/1/36    51,021 
 1,405,000  Baa3(a) Series A, 5.500% due 1/1/46    1,418,580 
 3,000,000  AAA State of Maryland Department of Transportation, Revenue Bonds, 3.500% due 10/1/33    3,002,267 
      Total Maryland    15,152,637 
Massachusetts - 1.6%
      Commonwealth of Massachusetts, GO:     
 2,640,000  AA+ 5.000% due 5/1/41    2,930,222 
 1,500,000  AA+ Series E, 5.000% due 11/1/45    1,630,940 
      Massachusetts Bay Transportation Authority Sales Tax Revenue, Revenue Bonds:     
 45,000  AA+ Series A, 5.000% due 7/1/45    45,539 
 2,500,000  AA+ Series A, Prerefunded 7/1/24 @ 100, 5.000% due 7/1/37(e)    2,525,280 
 1,220,000  AA+ Series A1, 5.000% due 7/1/41    1,354,031 
      Massachusetts Development Finance Agency, Revenue Bonds:     
 115,000  AA- 5.000% due 7/1/24    116,189 
 50,000  A 5.000% due 7/1/30    53,865 
 235,000  A 5.000% due 7/1/31    253,357 
 1,000,000  AA- 5.000% due 7/1/35    1,038,333 
 2,500,000  AAA Series A, 4.000% due 7/15/36    2,533,370 
 585,000  A+ Series S1, 5.000% due 10/1/24    593,289 
 335,000  AA- Series S4, 5.000% due 7/1/38(b)    335,721 
 500,000  AA Massachusetts Port Authority, Revenue Bonds, Series E, 5.000% due 7/1/31(c)    548,968 
      Total Massachusetts    13,959,104 
Michigan - 1.7%
 160,000  AA City of Detroit MI Sewage Disposal System Revenue, Revenue Bonds, Series D, AGM-Insured, 4.390% due 7/1/32(b)    148,491 
 2,155,000  AA+ County of Kalamazoo MI, GO, 3.000% due 5/1/32    2,065,854 
 155,000  AA Detroit Downtown Development Authority, Special Tax, Series A, AGM-Insured, 5.000% due 7/1/37    155,651 
      Grand Rapids Public Schools, GO, AGM:     
 40,000  AA 5.000% due 5/1/27    42,484 
 55,000  AA 5.000% due 5/1/29    58,276 
 100,000  AA 5.000% due 5/1/30    103,814 
 145,000  AA 5.000% due 5/1/31    150,360 
 20,000  AA 5.000% due 5/1/32    20,716 
 90,000  AA 5.000% due 5/1/33    93,285 
      Kalamazoo Hospital Finance Authority, Revenue Bonds:     
 100,000  A2(a) 5.000% due 5/15/27    103,721 
 75,000  A2(a) 5.000% due 5/15/28    77,631 
      Michigan Finance Authority, Revenue Bonds:     
 45,000  AA- 5.000% due 12/1/23    45,000 
 750,000  Aa3(a) 5.000% due 11/1/24    762,413 
 50,000  AA- 5.000% due 12/1/24    50,787 
 85,000  AA- 5.000% due 12/1/25    87,887 
 40,000  AA- 5.000% due 12/1/26    42,207 
 35,000  AA- 5.000% due 12/1/27    37,568 
 60,000  AA- 5.000% due 12/1/28    64,644 
 315,000  A 5.000% due 11/15/32    325,671 
 735,000  AA- 5.000% due 12/1/44(b)    747,220 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Municipal Fixed Income Fund (continued) 

 

Face
Amount/Units		  Rating†† Security  Value 
Michigan - 1.7% - (continued)
$10,000  AA- Series D1, 5.000% due 7/1/27   $10,210 
 30,000  AA- Series D1, 5.000% due 7/1/29    30,705 
 35,000  AA- Series D1, 5.000% due 7/1/31    35,720 
 30,000  AA- Series D1, 5.000% due 7/1/32    30,319 
 25,000  AA- Series D1, 5.000% due 7/1/33    25,583 
      Michigan State Building Authority, Revenue Bonds:     
 495,000  AA- Series I, 5.000% due 10/15/34    515,845 
 80,000  AA- Series I, 5.000% due 4/15/35    83,309 
      Michigan State Hospital Finance Authority, Revenue Bonds:     
 710,000  AA+ 4.000% due 11/15/47(b)    711,439 
 45,000  AA- Series C, 5.000% due 12/1/24    45,708 
 60,000  AA- Series C, 5.000% due 12/1/26    63,310 
 40,000  AA- Series C, 5.000% due 12/1/27    42,935 
 60,000  AA- Series C, 5.000% due 12/1/28    64,316 
 500,000  BB Michigan Strategic Fund, Revenue Bonds, 4.000% due 10/1/61(b)(c)    489,522 
 2,590,000  Aa2(a) Plymouth-Canton Community School District, GO, 5.000% due 5/1/40    2,845,705 
 90,000  AA- Portage Public Schools, GO, 5.000% due 11/1/29    93,857 
 60,000  Aa3(a) Royal Oak Hospital Finance Authority, Revenue Bonds, Series Prerefunded 3/1/24 @ 100, 5.000% due 9/1/24(e)    60,233 
 1,500,000  Aa1(a) State of Michigan, GO, Series A, 4.000% due 5/15/38    1,524,196 
 1,295,000  Aa1(a) Thornapple Kellogg School District, GO, 5.000% due 5/1/43    1,355,597 
      Warren Consolidated Schools, GO:     
 130,000  AA 5.000% due 5/1/30    135,510 
 140,000  AA 5.000% due 5/1/31    145,405 
 145,000  AA 5.000% due 5/1/32    150,428 
      Wayne County Airport Authority, Revenue Bonds:     
 5,000  A Series A, 5.000% due 12/1/29    5,323 
 10,000  A Series A, 5.000% due 12/1/30    10,640 
 10,000  A Series A, 5.000% due 12/1/31    10,634 
 15,000  A Series A, 5.000% due 12/1/36    15,770 
 620,000  A Series B, 5.000% due 12/1/29(c)    648,888 
 15,000  A Series B, 5.000% due 12/1/30(c)    15,691 
 15,000  A Series B, 5.000% due 12/1/31(c)    15,682 
 10,000  A Series B, 5.000% due 12/1/33(c)    10,443 
 25,000  A Series B, 5.000% due 12/1/36(c)    25,841 
 65,000  A Series C, 5.000% due 12/1/23    65,000 
 70,000  A Series C, 5.000% due 12/1/24    71,204 
 70,000  A Series C, 5.000% due 12/1/25    72,583 
 45,000  A Series C, 5.000% due 12/1/26    47,681 
 45,000  A Series C, 5.000% due 12/1/27    48,565 
      Total Michigan    14,707,477 
Minnesota - 1.5%
 2,500,000  AAA Metropolitan Council, GO, Series I, 3.000% due 3/1/27    2,499,989 
      State of Minnesota, GO:     
 5,000,000  AAA Series A, 5.000% due 8/1/37    5,386,724 
 4,835,000  AAA Series B, 5.000% due 8/1/27    5,225,321 
      Total Minnesota    13,112,034 
Mississippi - 0.8%
 1,500,000  NR Mississippi Business Finance Corp., Revenue Bonds, 5.000% due 2/1/36(b)(c)(d)    1,434,166 
      Mississippi Hospital Equipment & Facilities Authority, Revenue Bonds:     
 170,000  A+ 5.000% due 10/1/40(b)    176,663 
 435,000  A3(a) Series A, 5.000% due 1/1/34    465,306 
 225,000  A3(a) Series B, 5.000% due 1/1/30    240,224 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Municipal Fixed Income Fund (continued) 

 

Face
Amount/Units		  Rating†† Security  Value 
Mississippi - 0.8% - (continued)
      State of Mississippi, GO:     
$160,000  AA Series A, 5.000% due 10/1/30   $171,328 
 4,000,000  AA Series C, 5.000% due 10/1/35    4,317,408 
      Total Mississippi    6,805,095 
Missouri - 1.3%
 2,550,000  AA+ Grain Valley No R-V School District, GO, Series A, 5.000% due 3/1/35    2,707,135 
      Health & Educational Facilities Authority of the State of Missouri, Revenue Bonds:     
 30,000  AA- 5.000% due 5/15/29    31,039 
 30,000  AA- 5.000% due 5/15/30    30,952 
 30,000  AA- 5.000% due 5/15/31    30,944 
 85,000  AA- 5.000% due 5/15/36    87,191 
 20,000  A+ Series B, 4.000% due 2/1/40    19,224 
 70,000  A+ Series B, 5.000% due 2/1/30    71,411 
 80,000  A+ Series B, 5.000% due 2/1/32    81,474 
 65,000  A+ Series B, 5.000% due 2/1/36    66,101 
 2,500,000  AAA Metropolitan St Louis Sewer District, Revenue Bonds, Series A, 5.000% due 5/1/37    2,631,374 
 2,100,000  AA- Missouri Development Finance Board, Revenue Bonds, 5.500% due 5/1/41    2,321,897 
 3,450,000  AA+ Missouri Highway & Transportation Commission, Revenue Bonds, 5.000% due 5/1/25(h)    3,547,641 
 50,000  AA+ Missouri Housing Development Commission, Revenue Bonds, Series B, 4.000% due 5/1/50    49,628 
      Total Missouri    11,676,011 
Montana - 0.2%
      Montana Board of Housing, Revenue Bonds:     
 25,000  AA+ Series A1, 4.000% due 12/1/47(c)    24,890 
 25,000  AA+ Series B, 4.000% due 6/1/50    24,836 
      Montana Facility Finance Authority, Revenue Bonds:     
 60,000  A+(f) 5.000% due 2/15/24    60,130 
 60,000  A+(f) 5.000% due 2/15/25    60,880 
 90,000  A+(f) 5.000% due 2/15/26    92,462 
 1,390,000  AA Yellowstone & Carbon Counties School District No 7-70 Laurel, GO, 5.000% due 7/1/42    1,512,108 
      Total Montana    1,775,306 
Nebraska - 0.4%
      Nebraska Investment Finance Authority, Revenue Bonds:     
 130,000  AAA Series B, 4.000% due 9/1/49(c)    128,402 
 120,000  AAA Series E, 3.750% due 9/1/49(c)    118,240 
      Nebraska Public Power District, Revenue Bonds:     
 115,000  A+ Series B, 5.000% due 1/1/31    118,640 
 125,000  A+ Series B, 5.000% due 1/1/34    128,602 
 155,000  A+ Series B, 5.000% due 1/1/36    159,061 
 1,815,000  A2(a) Public Power Generation Agency, Revenue Bonds, 5.000% due 1/1/41    1,860,019 
 1,000,000  Aa3(a) Ralston Public Schools, GO, 5.000% due 12/15/43    1,086,399 
      Total Nebraska    3,599,363 
Nevada - 0.8%
      Carson City NV, Revenue Bonds:     
 20,000  BBB+ 5.000% due 9/1/24    20,177 
 15,000  BBB+ 5.000% due 9/1/28    15,479 
 20,000  BBB+ 5.000% due 9/1/30    20,531 
 20,000  BBB+ 5.000% due 9/1/32    20,464 
 20,000  BBB+ 5.000% due 9/1/34    20,419 
 2,000,000  AA- Clark County School District, GO, Series A, 5.000% due 6/15/39    2,189,328 
 1,520,000  AAA Clark County Water Reclamation District, GO, 4.000% due 7/1/35    1,527,923 
 2,750,000  AA+ County of Clark NV, GO, Series B, 4.000% due 11/1/34    2,786,502 
      Las Vegas Valley Water District, GO:     
 85,000  AA Series A, 5.000% due 6/1/32    88,915 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Municipal Fixed Income Fund (continued) 

 

Face
Amount/Units		  Rating†† Security  Value 
Nevada - 0.8% - (continued)
$145,000  AA Series A, 5.000% due 6/1/33   $151,501 
 155,000  AA Series A, 5.000% due 6/1/34    161,647 
 65,000  AA+ Nevada Housing Division, Revenue Bonds, Series B, 4.000% due 10/1/49    64,619 
      Total Nevada    7,067,505 
New Hampshire - 0.3%
      New Hampshire Business Finance Authority, Revenue Bonds:     
 1,000,000  B+ 2.950% due 4/1/29(c)(d)    899,060 
 740,000  A- Series A2, zero coupon, due 7/1/27(b)(c)    730,842 
      New Hampshire Health & Education Facilities Authority Act, Revenue Bonds:     
 25,000  A- 4.000% due 10/1/38    23,299 
 40,000  AA- 5.000% due 7/1/24    40,413 
 35,000  BBB- 5.000% due 7/1/26    35,010 
 135,000  A- 5.000% due 10/1/26    140,086 
 145,000  A- 5.000% due 10/1/27    149,849 
 60,000  A- 5.000% due 10/1/28    61,803 
 70,000  AA- 5.000% due 7/1/30    75,034 
 65,000  A 5.000% due 8/1/30    68,725 
 210,000  A- 5.000% due 10/1/30    214,936 
      Total New Hampshire    2,439,057 
New Jersey - 2.0%
      Camden County Improvement Authority, Revenue Bonds:     
 60,000  A- 5.000% due 2/15/24    60,101 
 30,000  A- Series Prerefunded 2/15/24 @ 100, 5.000% due 2/15/25(e)    30,094 
      City of Bayonne NJ, GO:     
 45,000  AA Series Prerefunded 7/1/26 @ 100, 5.000% due 7/1/31(e)    47,309 
 30,000  AA Series Prerefunded 7/1/26 @ 100, 5.000% due 7/1/32(e)    31,539 
 30,000  AA Series Prerefunded 7/1/26 @ 100, 5.000% due 7/1/33(e)    31,539 
      New Jersey Economic Development Authority, Revenue Bonds:     
 850,000  A- 5.000% due 11/1/34    924,703 
 1,000,000  A- Series EEE, 5.000% due 6/15/30    1,087,133 
 580,000  A- Series XX, Prerefunded 6/15/25 @ 100, 5.000% due 6/15/26(e)    597,667 
 55,000  A3(a) New Jersey Educational Facilities Authority, Revenue Bonds, Series A, 5.000% due 7/1/29    56,612 
      New Jersey Health Care Facilities Financing Authority, Revenue Bonds:     
 15,000  AA Series A, 5.000% due 7/1/28    15,725 
 45,000  AA Series A, 5.000% due 7/1/33    46,927 
 620,000  AA- Series B2, 5.000% due 7/1/42(b)    635,676 
 625,000  AA- Series B3, 5.000% due 7/1/45(b)    648,244 
      New Jersey Higher Education Student Assistance Authority, Revenue Bonds:     
 100,000  AA Series 1A, 5.000% due 12/1/24(c)    101,057 
 115,000  Aa1(a) Series A, 5.000% due 12/1/23    115,000 
 65,000  Aa1(a) Series A, 5.000% due 12/1/24    66,054 
 125,000  Aa1(a) Series A, 5.000% due 12/1/25    129,270 
      New Jersey Transportation Trust Fund Authority, Revenue Bonds:     
 5,000,000  A+ 5.000% due 6/15/24    5,044,303 
 435,000  A+ 5.000% due 6/15/27    453,953 
 1,320,000  A- 5.000% due 12/15/28    1,443,677 
 200,000  A- 5.000% due 12/15/39    214,096 
 870,000  A- Series A, zero coupon, due 12/15/27    756,640 
 195,000  A- Series A, zero coupon, due 12/15/28    163,826 
 220,000  A- Series A, 5.000% due 12/15/33    237,077 
 2,000,000  A- Series A, 5.000% due 12/15/34    2,148,055 
 360,000  A- Series AA, 5.000% due 6/15/25    363,262 
 215,000  A- Series AA, 5.000% due 6/15/26    216,156 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Municipal Fixed Income Fund (continued) 

 

Face
Amount/Units		  Rating†† Security  Value 
New Jersey - 2.0% - (continued)
$1,525,000  AA- New Jersey Turnpike Authority, Revenue Bonds, Series B, 5.000% due 1/1/46   $1,648,751 
      Total New Jersey    17,314,446 
New Mexico - 0.1%
 490,000  AA New Mexico Hospital Equipment Loan Council, Revenue Bonds, Series B, 5.000% due 8/1/49(b)    501,602 
 120,000  Aaa(a) New Mexico Mortgage Finance Authority, Revenue Bonds, Series D, 3.750% due 1/1/50    118,205 
      Total New Mexico    619,807 
New York - 9.9%
 1,430,000  Ba1(a) Brooklyn Arena Local Development Corp., Revenue Bonds, zero coupon, due 7/15/46    423,887 
      City of New York NY, GO:     
 1,000,000  AA Series A, 5.000% due 8/1/40    1,113,762 
 2,035,000  AA Series B1, 5.000% due 12/1/38    2,114,760 
 2,500,000  AA Series B1, 5.000% due 12/1/41    2,587,218 
 500,000  AA Series B1, 5.250% due 10/1/41    562,238 
 5,000,000  AA Series D1, 5.000% due 12/1/34    5,424,450 
 1,000,000  AA Series F1, 5.000% due 4/1/43    1,044,347 
      Hudson Yards Infrastructure Corp., Revenue Bonds:     
 115,000  AA Series A, 5.000% due 2/15/32    121,150 
 215,000  AA Series A, 5.000% due 2/15/35    225,281 
      Long Island Power Authority, Revenue Bonds:     
 1,020,000  A Series B, 1.650% due 9/1/49(b)    1,003,809 
 40,000  A Series B, 5.000% due 9/1/24    40,566 
      Metropolitan Transportation Authority, Revenue Bonds:     
 1,780,000  AA Series A, 5.250% due 11/15/27    1,888,881 
 125,000  A- Series A1, 5.000% due 11/15/35    126,723 
 145,000  A- Series A1, 5.000% due 11/15/36    146,690 
 245,000  A- Series A2, 5.000% due 11/15/29    258,937 
 270,000  A- Series B, 5.000% due 11/15/30    279,619 
 290,000  A- Series C1, 5.000% due 11/15/27    300,997 
 685,000  A- Series C1, 5.000% due 11/15/28    700,846 
 300,000  A- Series C1, 5.000% due 11/15/31    321,186 
 1,985,000  A- Series C1, 5.250% due 11/15/55    2,050,458 
 415,000  A- Series D1, 5.000% due 11/15/30    418,155 
 370,000  A3(a) MTA Hudson Rail Yards Trust Obligations, Revenue Bonds, Series A, 5.000% due 11/15/51    367,160 
 250,000  CCC+ Nassau County Tobacco Settlement Corp., Revenue Bonds, Series A3, 5.000% due 6/1/35    229,844 
      New York City Municipal Water Finance Authority, Revenue Bonds:     
 4,285,000  AA+ 3.250% due 6/15/50(b)    4,285,000 
 2,685,000  AA+ 5.000% due 6/15/41    2,903,460 
 1,945,000  AA+ Series EE, 5.000% due 6/15/45    2,037,689 
      New York City Transitional Finance Authority Future Tax Secured Revenue, Revenue Bonds:     
 500,000  AAA 3.250% due 5/1/34(b)    500,000 
 1,500,000  AAA Series A1, 4.000% due 11/1/37    1,522,133 
 3,200,000  AAA Series A1, 5.000% due 8/1/41    3,530,326 
 2,185,000  AAA Series A1, 5.000% due 8/1/43    2,391,143 
 1,775,000  AAA Series B1, 5.000% due 11/1/36    1,779,484 
 275,000  AAA Series C2, 5.000% due 5/1/32    298,522 
 1,000,000  AAA Series C3, 5.000% due 5/1/41    1,052,358 
 1,000,000  AAA Series E1, 5.000% due 2/1/31    1,020,379 
 1,700,000  AAA Series F1, 5.000% due 2/1/41    1,883,596 
      New York Liberty Development Corp., Revenue Bonds:     
 2,000,000  NR 5.000% due 11/15/44(d)    1,941,810 
 1,750,000  AA- Series 1WTC, 2.750% due 2/15/44    1,330,967 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Municipal Fixed Income Fund (continued) 

 

Face
Amount/Units		  Rating†† Security  Value 
New York - 9 .9% - (continued)
      New York State Dormitory Authority, Revenue Bonds:     
$1,000,000  B- 4.000% due 7/1/45   $699,504 
 4,000,000  Aa1(a) Series A, 5.250% due 3/15/38    4,295,641 
 225,000  A- Series B2, 5.000% due 5/1/48(b)    225,234 
 250,000  A- Series B3, 5.000% due 5/1/48(b)    256,587 
      New York State Urban Development Corp., Revenue Bonds:     
 1,250,000  AA+ Series A, 3.000% due 3/15/50    923,083 
 80,000  AA+ Series A, 5.000% due 3/15/32    84,791 
 3,500,000  AA+ Series A, 5.000% due 3/15/38    3,637,628 
      New York Transportation Development Corp., Revenue Bonds:     
 2,000,000  Baa1(a) 5.000% due 12/1/36(c)    2,103,838 
 2,500,000  Baa1(a) 5.000% due 12/1/37(c)    2,617,202 
 1,750,000  Baa3(a) 5.000% due 10/1/40(c)    1,737,002 
 1,500,000  Baa3(a) 5.375% due 6/30/60(c)    1,500,405 
 1,500,000  BB+ 5.625% due 4/1/40(c)    1,554,906 
 1,500,000  BB+ 6.000% due 4/1/35(c)    1,620,756 
 1,000,000  Baa3(a) 6.000% due 6/30/54(c)    1,062,320 
 1,500,000  B Niagara Area Development Corp., Revenue Bonds, Series A, 4.750% due 11/1/42(c)(d)    1,202,625 
 175,000  AA- Onondaga Civic Development Corp., Revenue Bonds, Series A, 5.000% due 12/1/33    197,448 
      Port Authority of New York & New Jersey, Revenue Bonds:     
 1,160,000  AA- 5.000% due 1/15/39(c)    1,232,671 
 5,000,000  AA- Series 207, 5.000% due 9/15/24(c)    5,054,507 
 2,500,000  AA- Series 207, 5.000% due 9/15/29(c)    2,641,215 
 1,750,000  AA- Series 207, 5.000% due 9/15/31(c)    1,843,547 
 400,000  AA+ Sales Tax Asset Receivable Corp., Revenue Bonds, Series A, Prerefunded 10/15/24 @ 100, 4.000% due 10/15/32(e)    403,238 
 60,000  Aa1(a) State of New York Mortgage Agency Homeowner Mortgage Revenue, Revenue Bonds, Series 221, 3.500% due 10/1/32(c)    58,601 
 2,000,000  AA- Triborough Bridge & Tunnel Authority, Revenue Bonds, 5.000% due 11/15/25    2,080,406 
 1,500,000  NR TSASC Inc., Revenue Bonds, 5.000% due 6/1/48    1,307,026 
      Total New York    86,568,012 
North Carolina - 0.2%
      County of New Hanover NC, Revenue Bonds:     
 25,000  WR(a) 5.000% due 10/1/27    26,853 
 205,000  WR(a) Series Prerefunded 10/1/27 @ 100, 5.000% due 10/1/47(e)    220,194 
 1,000,000  AAA County of Wake NC, GO, Series C, 5.000% due 2/1/28    1,093,066 
 105,000  Aa3(a) Raleigh Durham Airport Authority, Revenue Bonds, Series A, 5.000% due 5/1/29(c)    113,294 
      Total North Carolina    1,453,407 
Ohio - 2.1%
 3,950,000  NR Buckeye Tobacco Settlement Financing Authority, Revenue Bonds, Series B2, 5.000% due 6/1/55    3,484,831 
      City of Cleveland OH Airport System Revenue, Revenue Bonds, AGM:     
 30,000  AA Series A, 5.000% due 1/1/26    30,539 
 45,000  AA Series A, 5.000% due 1/1/28    45,656 
 65,000  AA Series A, 5.000% due 1/1/29    65,953 
 60,000  AA Series A, 5.000% due 1/1/30    60,855 
 3,000,000  BB+ Cleveland-Cuyahoga County Port Authority, Revenue Bonds, 5.500% due 12/1/43    2,999,817 
      Columbus City School District, GO:     
 50,000  AA 5.000% due 12/1/32    52,230 
 5,000  NR Series Prerefunded 6/1/26 @ 100, 5.000% due 12/1/32(e)    5,235 
      County of Allen OH Hospital Facilities Revenue, Revenue Bonds:     
 125,000  A+ 5.000% due 12/1/29    137,948 
 125,000  A+ 5.000% due 12/1/30    138,891 
 60,000  Aa2(a) County of Franklin OH, Revenue Bonds, 5.000% due 11/1/26    63,231 
 875,000  BBB-(f) County of Hamilton OH, Revenue Bonds, 5.500% due 1/1/43    862,765 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Municipal Fixed Income Fund (continued) 

 

Face
Amount/Units		  Rating†† Security  Value 
Ohio - 2.1% - (continued)
$140,000  BB+ County of Muskingum OH, Revenue Bonds, 5.000% due 2/15/44   $128,544 
 265,000  A3(a) County of Scioto OH, Revenue Bonds, 5.000% due 2/15/29    273,729 
 1,000,000  NR County of Washington OH, Revenue Bonds, 6.625% due 12/1/42    1,027,441 
 2,750,000  Ba1(a) Jefferson County Port Authority, Revenue Bonds, 3.500% due 12/1/51(c)(d)    1,851,043 
 1,500,000  B- Ohio Air Quality Development Authority, Revenue Bonds, 5.000% due 7/1/49(c)(d)    1,270,516 
 40,000  Aaa(a) Ohio Housing Finance Agency, Revenue Bonds, Series B, 4.500% due 3/1/50    40,110 
 2,550,000  AA Ohio State University, Revenue Bonds, Series A, 5.000% due 12/1/39    2,572,737 
 2,025,000  AAA Ohio Water Development Authority Water Pollution Control Loan Fund, Revenue Bonds, Series A, 3.250% due 12/1/36(b)    2,025,000 
 1,000,000  AA+ State of Ohio, GO, Series A, 5.000% due 3/1/28    1,092,350 
      State of Ohio, Revenue Bonds:     
 75,000  AA 5.000% due 1/1/27    79,554 
 90,000  A Series A, 4.000% due 1/15/50    80,385 
      Total Ohio    18,389,360 
Oklahoma - 1.1%
 560,000  A+ Canadian County Educational Facilities Authority, Revenue Bonds, 5.000% due 9/1/26    587,761 
      Grand River Dam Authority, Revenue Bonds:     
 35,000  AA- Series A, 5.000% due 6/1/27    35,246 
 45,000  AA- Series A, 5.000% due 6/1/28    45,284 
 3,300,000  AA- Oklahoma Capitol Improvement Authority, Revenue Bonds, Series A, 5.000% due 7/1/30    3,319,657 
      Oklahoma Development Finance Authority, Revenue Bonds:     
 2,000,000  BB- Series B, 5.500% due 8/15/52    1,933,837 
 825,000  BB- Series B, 5.500% due 8/15/57    791,021 
      Oklahoma Municipal Power Authority, Revenue Bonds:     
 50,000  A Series A, Prerefunded 1/1/25 @ 100, 5.000% due 1/1/26(e)    51,022 
 175,000  A Series A, Prerefunded 1/1/25 @ 100, 5.000% due 1/1/27(e)    178,577 
 60,000  A Series A, Prerefunded 1/1/25 @ 100, 5.000% due 1/1/28(e)    61,226 
 45,000  A Series A, Prerefunded 1/1/25 @ 100, 5.000% due 1/1/29(e)    45,920 
 60,000  A Series B, 5.000% due 1/1/27    60,961 
 600,000  AAA Oklahoma Water Resources Board, Revenue Bonds, Series A, 4.000% due 4/1/35    623,747 
      Tulsa Airports Improvement Trust, Revenue Bonds:     
 1,000,000  B+ 5.000% due 6/1/35(b)(c)    994,899 
 525,000  NR Series A, 5.500% due 6/1/35(c)    525,082 
      Total Oklahoma    9,254,240 
Oregon - 1.6%
 85,000  Aa1(a) Hillsboro School District No 1J, GO, 5.000% due 6/15/30    90,984 
      Oregon State Lottery, Revenue Bonds:     
 4,000,000  AAA Series A, 5.000% due 4/1/42    4,392,900 
 4,850,000  AAA Series A, 5.000% due 4/1/43    5,313,096 
 3,000,000  AAA Series D, 5.000% due 4/1/29    3,074,992 
      Port of Portland OR Airport Revenue, Revenue Bonds:     
 300,000  AA- 5.000% due 7/1/28(c)    319,038 
 165,000  AA- 5.000% due 7/1/29    178,848 
 205,000  AA- Series 24B, 5.000% due 7/1/32(c)    213,461 
      Total Oregon    13,583,319 
Pennsylvania - 3.0%
 1,000,000  BB- Bucks County Industrial Development Authority, Revenue Bonds, 4.000% due 7/1/51    716,016 
      City of Philadelphia PA, GO:     
 1,000,000  A Series B, 5.000% due 2/1/24    1,002,379 
 85,000  A Series B, 5.000% due 8/1/27    87,081 
 300,000  A Series B, 5.000% due 8/1/29    306,519 
 320,000  A Series B, 5.000% due 8/1/30    326,384 
 335,000  A Series B, 5.000% due 8/1/31    341,088 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Municipal Fixed Income Fund (continued) 

 

Face
Amount/Units		  Rating†† Security  Value 
Pennsylvania - 3.0% - (continued)
      City of Philadelphia PA Airport Revenue, Revenue Bonds:     
$50,000  A+ Series B, 5.000% due 7/1/30(c)   $52,394 
 70,000  A+ Series B, 5.000% due 7/1/31(c)    73,316 
      Commonwealth Financing Authority, Revenue Bonds:     
 1,010,000  A Series A, 5.000% due 6/1/28    1,097,048 
 500,000  A Series B, 5.000% due 6/1/25    512,644 
      Commonwealth of Pennsylvania, GO:     
 3,000,000  A+ 4.000% due 3/15/34    3,009,282 
 5,000,000  A+ 4.000% due 9/15/34    5,073,532 
 945,000  A+ 5.000% due 1/1/25    964,717 
 290,000  A+ 5.000% due 10/15/27    290,403 
 810,000  A+ 5.000% due 9/15/29    852,764 
 1,000,000  A+ 5.000% due 6/15/34    1,009,387 
      General Authority of Southcentral Pennsylvania, Revenue Bonds:     
 190,000  Aa3(a) 5.000% due 6/1/38    199,532 
 310,000  Aa3(a) 5.000% due 6/1/39    324,288 
      Lancaster County Hospital Authority, Revenue Bonds:     
 800,000  A 5.000% due 11/1/38    840,622 
 1,000,000  A 5.000% due 11/1/39    1,045,761 
 325,000  A Montgomery County Higher Education & Health Authority, Revenue Bonds, 5.000% due 9/1/33    348,151 
      Pennsylvania Economic Development Financing Authority, Revenue Bonds:     
 1,000,000  Baa2(a) 5.500% due 6/30/37(c)    1,080,123 
 1,500,000  Baa2(a) 5.500% due 6/30/39(c)    1,596,399 
 1,000,000  AA AGM, 5.500% due 6/30/42(c)    1,072,681 
      Pennsylvania Higher Educational Facilities Authority, Revenue Bonds:     
 775,000  AA 4.000% due 8/15/38    780,028 
 35,000  AA Series A, 5.000% due 8/15/27    37,615 
 35,000  AA Series A, 5.000% due 8/15/28    37,230 
 60,000  AA Series A, 5.000% due 8/15/30    63,584 
 1,000,000  AA Series C, 4.000% due 8/15/41    985,994 
      Pennsylvania Turnpike Commission, Revenue Bonds:     
 15,000  Aa3(a) Series A1, 5.000% due 12/1/23    15,000 
 45,000  Aa3(a) Series A1, 5.000% due 12/1/29    48,480 
 30,000  Aa3(a) Series A1, 5.000% due 12/1/34    32,021 
 35,000  A+ Series A2, 5.000% due 12/1/28    37,074 
 35,000  A+ Series A2, 5.000% due 12/1/33    37,963 
 20,000  A Philadelphia Gas Works Co., Revenue Bonds, 5.000% due 8/1/24    20,201 
 40,000  A1(a) State Public School Building Authority, Revenue Bonds, 5.000% due 6/1/26    40,859 
 1,500,000  Aa2(a) West Shore School District, GO, 5.000% due 11/15/43    1,544,734 
      Total Pennsylvania    25,903,294 
Puerto Rico - 1.2%
      Commonwealth of Puerto Rico, GO:     
 2,000,000  NR Series A1, 4.000% due 7/1/41    1,725,627 
 1,000,000  NR Series A1, 4.000% due 7/1/46    829,986 
 1,000,000  NR Puerto Rico Commonwealth Aqueduct & Sewer Authority, Revenue Bonds, Series B, 4.000% due 7/1/42(d)    867,832 
 2,500,000  NR Puerto Rico Highway & Transportation Authority, Revenue Bonds, Series A, 5.000% due 7/1/62    2,468,750 
 5,000,000  NR Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, Revenue Bonds, Series A1, 5.000% due 7/1/58    4,847,899 
      Total Puerto Rico    10,740,094 
Rhode Island - 0.2%
 240,000  AA Rhode Island Health & Educational Building Corp., Revenue Bonds, AGM, 5.000% due 5/15/25    245,388 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Municipal Fixed Income Fund (continued) 

 

Face
Amount/Units		  Rating†† Security  Value 
Rhode Island - 0.2% - (continued)
$85,000  AA+ Rhode Island Housing & Mortgage Finance Corp., Revenue Bonds, Series 70, 4.000% due 10/1/49   $84,484 
      Rhode Island Student Loan Authority, Revenue Bonds:     
 55,000  AA Series A, 3.500% due 12/1/34(c)    53,580 
 1,125,000  AA Series A, 5.000% due 12/1/26(c)    1,169,096 
      Tobacco Settlement Financing Corp., Revenue Bonds:     
 55,000  A Series A, 5.000% due 6/1/27    55,901 
 70,000  BBB Series A, 5.000% due 6/1/28    71,169 
      Total Rhode Island    1,679,618 
South Carolina - 1.5%
      Beaufort-Jasper Water & Sewer Authority, Revenue Bonds:     
 30,000  AA+ Series B, 5.000% due 3/1/24    30,131 
 30,000  AA+ Series B, 5.000% due 3/1/25    30,711 
      Patriots Energy Group Financing Agency, Revenue Bonds:     
 8,000,000  Aa1(a) Series A, 4.000% due 10/1/48(b)    8,009,007 
 1,000,000  A1(a) Series A1, 5.250% due 10/1/54(b)    1,051,861 
      Scago Educational Facilities Corp. for Colleton School District, Revenue Bonds:     
 115,000  A- 5.000% due 12/1/27    117,663 
 95,000  A- 5.000% due 12/1/29    96,897 
      South Carolina Jobs-Economic Development Authority, Revenue Bonds:     
 30,000  A+ 5.000% due 2/1/24    30,063 
 50,000  A+ 5.000% due 2/1/25    50,814 
 50,000  A+ 5.000% due 2/1/26    51,726 
 1,000,000  NR 7.500% due 11/15/53    983,550 
 1,000,000  NR 7.750% due 11/15/58    983,373 
      South Carolina Ports Authority, Revenue Bonds:     
 65,000  A+ 5.000% due 7/1/28(c)    69,153 
 140,000  A+ 5.000% due 7/1/30(c)    148,675 
      South Carolina Public Service Authority, Revenue Bonds:     
 185,000  A- Series B, 5.000% due 12/1/35    189,616 
 275,000  A- Series B, 5.000% due 12/1/36    280,290 
 115,000  A- Series C, 5.000% due 12/1/25    116,313 
 115,000  A- Series C, 5.000% due 12/1/26    116,391 
 90,000  A- Series C, 5.000% due 12/1/27    90,976 
      South Carolina State Housing Finance & Development Authority, Revenue Bonds:     
 120,000  Aaa(a) Series A, 4.000% due 1/1/50    119,163 
 125,000  Aaa(a) Series A, 4.000% due 7/1/50    124,089 
      Total South Carolina    12,690,462 
South Dakota - 0.0%
      South Dakota Health & Educational Facilities Authority, Revenue Bonds:     
 15,000  AA- 5.000% due 7/1/24    15,136 
 40,000  AA- 5.000% due 7/1/35    42,053 
 35,000  A+ Series B, 5.000% due 11/1/24    35,472 
 35,000  A+ Series B, 5.000% due 11/1/25    35,410 
 5,000  A+ Series B, 5.000% due 11/1/26    5,061 
      Total South Dakota    133,132 
Tennessee - 1.1%
      Greeneville Health & Educational Facilities Board, Revenue Bonds:     
 30,000  A- Series A, 5.000% due 7/1/29    31,752 
 35,000  A- Series A, 5.000% due 7/1/30    36,984 
      Knox County Health Educational & Housing Facility Board, Revenue Bonds:     
 30,000  BBB 5.000% due 4/1/24    30,120 
 30,000  BBB 5.000% due 9/1/24    30,218 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Municipal Fixed Income Fund (continued) 

 

Face
Amount/Units		  Rating†† Security  Value 
Tennessee - 1.1% - (continued)
$40,000  BBB 5.000% due 4/1/25   $40,517 
 1,000,000  AA Metropolitan Government Nashville & Davidson County Sports Authority, Revenue Bonds, Series B, AGM-Insured, 5.250% due 7/1/48    1,082,150 
 1,125,000  A1(a) Metropolitan Nashville Airport Authority, Revenue Bonds, Series B, 5.250% due 7/1/33(c)    1,268,308 
 6,240,000  Aa1(a) Tennergy Corp., Revenue Bonds, Series A, 5.000% due 2/1/50(b)    6,274,258 
 1,225,000  AA+ Tennessee Housing Development Agency, Revenue Bonds, Series 2B, 3.950% due 1/1/38    1,188,223 
      Total Tennessee    9,982,530 
Texas - 13.2%
 1,765,000  AAA Academy Independent School District, GO, PSF-GTD-Insured, 5.000% due 8/15/43    1,911,624 
 1,895,000  AAA Alamo Community College District, GO, 5.000% due 8/15/34    2,031,736 
 1,000,000  AAA Arlington Higher Education Finance Corp., Revenue Bonds, PSF-GTD-Insured, 5.000% due 8/15/48    1,067,296 
 1,500,000  Aaa(a) Brazosport Independent School District, GO, PSF-GTD-Insured, 4.000% due 2/15/33    1,524,547 
      Central Texas Regional Mobility Authority, Revenue Bonds:     
 35,000  A Series A, Prerefunded 7/1/25 @ 100, 5.000% due 1/1/31(e)    36,054 
 30,000  A Series A, Prerefunded 7/1/25 @ 100, 5.000% due 1/1/32(e)    30,903 
 60,000  A Series A, Prerefunded 7/1/25 @ 100, 5.000% due 1/1/34(e)    61,806 
 160,000  A Series A, Prerefunded 7/1/25 @ 100, 5.000% due 1/1/40(e)    164,816 
 600,000  A Series B, 4.000% due 1/1/41    579,002 
 375,000  A Series B, 5.000% due 1/1/29    406,111 
 1,800,000  A Series E, 5.000% due 1/1/38    1,891,821 
 1,770,000  AAA City of Austin TX, GO, 5.000% due 5/1/27    1,901,903 
      City of Austin TX Airport System Revenue, Revenue Bonds:     
 165,000  A+ 5.000% due 11/15/26(c)    166,037 
 80,000  A+ 5.000% due 11/15/29(c)    80,394 
 170,000  AA- City of Dallas TX, GO, 5.000% due 2/15/24    170,550 
 3,835,000  AAA City of Dallas TX Waterworks & Sewer System Revenue, Revenue Bonds, Series A, 5.000% due 10/1/32    3,934,394 
 995,000  AA+ City of El Paso TX Water & Sewer Revenue, Revenue Bonds, 5.000% due 3/1/41    1,072,914 
      City of Houston TX, GO:     
 290,000  Aa3(a) Series A, 5.000% due 3/1/24    291,248 
 120,000  Aa3(a) Series A, 5.000% due 3/1/25    122,815 
      City of Houston TX Airport System Revenue, Revenue Bonds:     
 50,000  A1(a) Series A, 5.000% due 7/1/26(c)    51,685 
 60,000  A1(a) Series A, 5.000% due 7/1/27(c)    62,969 
 30,000  A1(a) Series A, 5.000% due 7/1/28(c)    31,917 
 90,000  A1(a) Series B, 5.000% due 7/1/28    98,621 
 360,000  A1(a) Series B, 5.000% due 7/1/29    390,150 
 1,500,000  A1(a) Series D, 5.000% due 7/1/25    1,540,717 
 2,005,000  A1(a) Series D, 5.000% due 7/1/26    2,108,373 
      City of Houston TX Combined Utility System Revenue, Revenue Bonds:     
 3,000,000  Aa2(a) Series B, 4.000% due 11/15/31    3,045,884 
 70,000  Aa2(a) Series B, 5.000% due 11/15/33    73,330 
 75,000  AA Series C, 5.000% due 5/15/28    75,540 
      City of San Antonio TX Airport System, Revenue Bonds:     
 500,000  A Series A, 5.000% due 7/1/27(c)    523,030 
 480,000  A+ Series A, 5.000% due 7/1/28(c)    510,670 
      City of San Antonio TX Electric & Gas Systems Revenue, Revenue Bonds:     
 1,000,000  A+ 1.750% due 2/1/49(b)    956,126 
 500,000  A+ 4.000% due 2/1/43    491,487 
 45,000  AA- 5.000% due 2/1/29    48,272 
 30,000  AA- 5.000% due 2/1/30    32,131 
 45,000  AA- 5.000% due 2/1/31    48,154 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Municipal Fixed Income Fund (continued) 

 

Face
Amount/Units		  Rating†† Security  Value 
Texas - 13.2% - (continued) 
$35,000  AA- 5.000% due 2/1/33   $37,369 
 2,500,000  A+ 5.000% due 2/1/34    2,506,107 
 750,000  A+ 5.000% due 2/1/42    808,514 
 90,000  AA- 5.250% due 2/1/25    92,131 
 3,000,000  Baa3(a) Clifton Higher Education Finance Corp., Revenue Bonds, Series D, 6.125% due 8/15/48    3,014,309 
 3,000,000  Aaa(a) Comal Independent School District, GO, PSF-GTD-Insured, 5.000% due 2/1/27    3,189,272 
 2,345,000  AAA Community Independent School District, GO, PSF-GTD-Insured, 5.000% due 2/15/41    2,573,634 
 2,790,000  AAA County of Harris TX, GO, Series A, 5.000% due 10/1/28    2,875,286 
      County of Travis TX, GO:     
 85,000  AAA Series A, 5.000% due 3/1/24    85,364 
 1,490,000  AAA Series A, 5.000% due 3/1/38    1,592,866 
 2,215,000  AAA County of Williamson TX, GO, 5.000% due 2/15/30    2,354,021 
      Cypress-Fairbanks Independent School District, GO, PSF-GTD:     
 1,975,000  AAA 4.000% due 2/15/32    1,995,913 
 725,000  AAA 5.000% due 2/15/24    727,536 
 620,000  AAA 5.000% due 2/15/25    633,993 
 105,000  AAA 5.000% due 2/15/27    109,767 
 1,000,000  AAA Series A, 3.400% due 2/15/31    995,216 
 1,925,000  AAA Series A, 5.000% due 2/15/26    2,009,131 
      Dallas Area Rapid Transit, Revenue Bonds:     
 210,000  AA+ AMBAC, 5.250% due 12/1/29    238,413 
 2,500,000  AA+ Series B, 5.000% due 12/1/47    2,669,631 
 185,000  A2(a) Dallas County Utility & Reclamation District, GO, 5.000% due 2/15/24    185,573 
 1,500,000  A+ Dallas Fort Worth International Airport, Revenue Bonds, Series B, 5.000% due 11/1/40    1,678,332 
      Eagle Mountain & Saginaw Independent School District, GO, PSF-GTD:     
 1,270,000  Aaa(a) 5.000% due 8/15/29    1,415,389 
 1,000,000  Aaa(a) 5.000% due 8/15/30    1,129,365 
 105,000  AAA Fort Worth Independent School District, GO, PSF-GTD-Insured, 5.000% due 2/15/26    109,612 
      Georgetown Independent School District, GO, PSF-GTD:     
 1,000,000  AAA 3.750% due 8/15/41    954,782 
 1,000,000  AAA 3.875% due 8/15/44    925,911 
      Grand Parkway Transportation Corp., Revenue Bonds:     
 150,000  AA+ Series A, 5.000% due 10/1/31    162,991 
 125,000  AA+ Series A, 5.000% due 10/1/32    135,699 
 190,000  AA+ Series A, 5.000% due 10/1/33    206,031 
 145,000  AA+ Series A, 5.000% due 10/1/34    156,984 
      Harris County Cultural Education Facilities Finance Corp., Revenue Bonds:     
 1,025,000  A+ 5.000% due 6/1/24    1,033,214 
 1,500,000  A+ 5.000% due 7/1/39    1,531,290 
 315,000  A+ 5.000% due 7/1/49(b)    319,187 
      Irving Hospital Authority, Revenue Bonds:     
 15,000  A+ Series A, 5.000% due 10/15/24    15,192 
 20,000  A+ Series A, 5.000% due 10/15/26    20,666 
 15,000  A+ Series A, 5.000% due 10/15/27    15,523 
 20,000  A+ Series A, 5.000% due 10/15/29    20,630 
 30,000  A+ Series A, 5.000% due 10/15/31    30,751 
 40,000  A+ Series A, 5.000% due 10/15/35    40,848 
 30,000  A+ Series A, 5.000% due 10/15/36    30,515 
 35,000  A+ Series A, 5.000% due 10/15/39    35,396 
 45,000  A+ Series A, 5.000% due 10/15/44    45,451 
 1,095,000  AAA Klein Independent School District, GO, PSF-GTD-Insured, 4.000% due 8/1/46    1,078,742 
      Lamar Consolidated Independent School District, GO, PSF-GTD:     
 7,280,000  AAA 5.000% due 2/15/31    7,699,861 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Municipal Fixed Income Fund (continued) 

 

Face
Amount/Units		  Rating†† Security  Value 
Texas - 13.2% - (continued)
$7,050,000  AAA 5.000% due 2/15/34   $7,396,731 
 2,000,000  AAA Leander Independent School District, GO, PSF-GTD-Insured, 5.000% due 8/15/27    2,060,729 
 1,225,000  AA+ Lewisville Independent School District, GO, Series B, 5.000% due 8/15/28    1,257,899 
      Love Field Airport Modernization Corp., Revenue Bonds:     
 40,000  A 5.000% due 11/1/30(c)    40,378 
 90,000  A 5.000% due 11/1/31(c)    90,728 
      Lower Colorado River Authority, Revenue Bonds:     
 200,000  A 5.000% due 5/15/26    209,570 
 135,000  A 5.000% due 5/15/32    145,709 
 70,000  A 5.000% due 5/15/34    75,368 
 70,000  A 5.000% due 5/15/36    74,888 
 195,000  A Series B, 5.000% due 5/15/25    200,324 
 85,000  A Series B, 5.000% due 5/15/27    86,550 
 85,000  A Series B, 5.000% due 5/15/28    86,598 
 245,000  A Series B, 5.000% due 5/15/29    249,501 
 35,000  A Series D, 5.000% due 5/15/24    35,272 
 40,000  A Series D, 5.000% due 5/15/26    40,718 
 1,000,000  Aaa(a) Malakoff Independent School District, GO, PSF-GTD-Insured, 5.000% due 2/15/30    1,123,982 
 2,500,000  BB- Mission Economic Development Corp., Revenue Bonds, 4.625% due 10/1/31(c)(d)    2,423,999 
      New Hope Cultural Education Facilities Finance Corp., Revenue Bonds:     
 60,000  Aa3(a) Series A, 5.000% due 8/15/24    60,672 
 45,000  Aa3(a) Series A, 5.000% due 8/15/26    47,199 
 45,000  Aa3(a) Series A, 5.000% due 8/15/27    48,084 
 70,000  Aa3(a) Series A, 5.000% due 8/15/30    74,685 
      Newark Higher Education Finance Corp., Revenue Bonds:     
 65,000  A3(a) 5.000% due 4/1/27    67,251 
 40,000  A3(a) 5.000% due 4/1/28    41,411 
 1,000,000  Aaa(a) North East Independent School District, GO, Series A, PSF-GTD-Insured, 4.000% due 8/1/41    998,811 
      North Harris County Regional Water Authority, Revenue Bonds:     
 30,000  AA- 4.000% due 12/15/23    30,006 
 55,000  AA- 4.000% due 12/15/24    55,033 
 2,000,000  NR North Parkway Municipal Management District No 1, Special Assessment, 5.000% due 9/15/51(d)    1,801,802 
      North Texas Tollway Authority, Revenue Bonds:     
 145,000  NR 5.000% due 1/1/24    145,177 
 1,750,000  AA- Series A, 5.000% due 1/1/28    1,819,650 
 35,000  AA- Series A, 5.000% due 1/1/30    36,328 
 40,000  AA- Series A, 5.000% due 1/1/33    42,070 
 1,000,000  A+ Series A, 5.000% due 1/1/38    1,007,532 
 200,000  AA- Series A, 5.000% due 1/1/39    204,018 
 185,000  A+ Series B, 5.000% due 1/1/25    188,880 
 160,000  AA- Series B, 5.000% due 1/1/30    163,058 
 20,000  A+ Series B, 5.000% due 1/1/31    20,610 
 85,000  A+ Series B, 5.000% due 1/1/32    89,380 
 1,000,000  AAA Pecos Barstow Toyah Independent School District, GO, PSF-GTD-Insured, 5.000% due 2/15/38    1,023,490 
 50,000  Aaa(a) Permanent University Fund - University of Texas System, Revenue Bonds, Series B, 5.000% due 7/1/29    52,279 
 1,500,000  NR Port Beaumont Navigation District, Revenue Bonds, 4.000% due 1/1/50(c)(d)    1,039,018 
 50,000  AAA Rockwall Independent School District, GO, PSF-GTD-Insured, zero coupon, due 2/15/25    47,998 
 1,195,000  Aaa(a) San Antonio Independent School District, GO, Series A, PSF-GTD-Insured, 5.000% due 8/1/28    1,260,001 
 2,000,000  AA+ San Antonio Water System, Revenue Bonds, Series A, 5.000% due 5/15/36    2,148,999 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Municipal Fixed Income Fund (continued) 

 

Face
Amount/Units		  Rating†† Security  Value 
Texas - 13.2% - (continued)
      San Jacinto Community College District, GO:     
$450,000  AA 5.000% due 2/15/29   $490,505 
 435,000  AA 5.000% due 2/15/30    479,047 
      State of Texas, GO:     
 2,500,000  AAA 5.000% due 10/1/24    2,515,228 
 150,000  AAA 5.000% due 8/1/26(c)    151,500 
 200,000  AAA 5.500% due 8/1/26(c)    210,463 
 350,000  AAA Series B, 5.000% due 8/1/25(c)    350,388 
      Tarrant County Cultural Education Facilities Finance Corp., Revenue Bonds:     
 165,000  AA 5.000% due 2/15/25    168,235 
 60,000  AA 5.000% due 2/15/34    62,506 
      Texas Department of Housing & Community Affairs, Revenue Bonds:     
 394,653  Aaa(a) 2.950% due 7/1/36    350,553 
 295,000  AA+ Series A, 4.000% due 3/1/50    293,058 
 600,000  AA+ Texas Public Finance Authority, Revenue Bonds, 5.000% due 2/1/28    650,664 
 135,000  Aa2(a) Texas State University System, Revenue Bonds, Series A, 5.000% due 3/15/29    144,040 
      Texas Water Development Board, Revenue Bonds:     
 2,000,000  AAA 4.650% due 10/15/40    2,141,400 
 1,000,000  AAA 5.000% due 10/15/25    1,037,723 
 180,000  AAA Series A, 5.000% due 4/15/25    184,824 
 75,000  AAA Series A, 5.000% due 10/15/25    77,829 
 125,000  AAA Series A, 5.000% due 4/15/26    131,180 
 190,000  AAA Series A, 5.000% due 4/15/29    205,007 
 505,000  AAA Series A, 5.000% due 4/15/30    543,520 
 190,000  AA University of Houston, Revenue Bonds, Series A, 5.000% due 2/15/30    197,331 
 1,095,000  Aaa(a) Wink-Loving Independent School District, GO, PSF-GTD-Insured, 5.000% due 2/15/27    1,098,458 
      Total Texas    114,617,280 
Utah - 0.5%
      City of Salt Lake City UT Airport Revenue, Revenue Bonds:     
 35,000  A+ Series A, 5.000% due 7/1/26(c)    36,119 
 115,000  A+ Series A, 5.000% due 7/1/28(c)    120,681 
 155,000  A+ Series A, 5.000% due 7/1/30(c)    164,335 
 1,250,000  AA City of Vineyard UT Water & Sewer Revenue, Revenue Bonds, 5.000% due 5/1/43    1,351,993 
 1,400,000  A2(a) Duchesne County School District, Revenue Bonds, 5.000% due 6/1/37    1,488,196 
 1,270,000  NR Mida Mountain Village Public Infrastructure District, Special Assessment, 4.000% due 8/1/50(d)    943,576 
      Total Utah    4,104,900 
Vermont - 0.2%
      Vermont Student Assistance Corp., Revenue Bonds:     
 750,000  A Series A, 5.000% due 6/15/29(c)    779,939 
 675,000  A Series A, 5.000% due 6/15/30(c)    703,578 
      Total Vermont    1,483,517 
Virgin Islands - 0.2%
 1,500,000  NR Matching Fund Special Purpose Securitization Corp., Revenue Bonds, Series A, 5.000% due 10/1/39    1,472,543 
Virginia - 3.0%
 195,000  A+ Arlington County Industrial Development Authority, Revenue Bonds, 5.000% due 7/1/32    213,582 
 2,635,000  AAA City of Suffolk VA, GO, Series A, 5.000% due 2/1/27    2,821,830 
 5,000,000  AAA Commonwealth of Virginia, GO, Series B, 4.000% due 6/1/24    5,003,277 
 2,000,000  AAA County of Fairfax VA Sewer Revenue, Revenue Bonds, Series A, 5.000% due 7/15/46    2,167,045 
      Fredericksburg Economic Development Authority, Revenue Bonds:     
 40,000  A3(a) 5.000% due 6/15/27    40,241 
 40,000  A3(a) 5.000% due 6/15/29    40,246 
 45,000  A3(a) 5.000% due 6/15/33    45,237 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Municipal Fixed Income Fund (continued) 

 

Face
Amount/Units		  Rating†† Security  Value 
Virginia - 3.0% - (continued)
$3,180,000  AA Hampton Roads Transportation Accountability Commission, Revenue Bonds, Series A, Prerefunded 1/1/28 @ 100, 5.000% due 7/1/35(e)   $3,466,375 
 320,000  AA Norfolk Economic Development Authority, Revenue Bonds, Series B, 5.000% due 11/1/48(b)    347,293 
 1,800,000  NR Peninsula Town Center Community Development Authority, Special Assessment, 4.500% due 9/1/45(d)    1,567,003 
      Stafford County Economic Development Authority, Revenue Bonds:     
 20,000  A3(a) 4.000% due 6/15/37    19,346 
 50,000  A3(a) 5.000% due 6/15/32    51,245 
 65,000  A3(a) 5.000% due 6/15/34    66,338 
 3,000,000  B- Tobacco Settlement Financing Corp., Revenue Bonds, Series B1, 5.000% due 6/1/47    2,762,667 
      Virginia College Building Authority, Revenue Bonds:     
 1,670,000  AA+ 5.000% due 2/1/25    1,709,823 
 165,000  AA+ Series D, 5.000% due 2/1/26    172,308 
 265,000  AA+ Series E, 5.000% due 2/1/30    288,412 
 305,000  AA+ Series E, 5.000% due 2/1/31    331,369 
 360,000  AA+ Virginia Commonwealth Transportation Board, Revenue Bonds, Series A, 5.000% due 5/15/30    387,528 
 3,575,000  AAA Virginia Housing Development Authority, Revenue Bonds, Series E2, 3.900% due 7/1/55(b)(h)    3,578,082 
 500,000  AAA Virginia Resources Authority, Revenue Bonds, Series C, 5.000% due 11/1/29    561,552 
      Winchester Economic Development Authority, Revenue Bonds:     
 60,000  A+ 5.000% due 1/1/32    61,560 
 75,000  A+ 5.000% due 1/1/33    76,914 
      Total Virginia    25,779,273 
Washington - 4.6%
 60,000  AA Chelan County Public Utility District No 1, Revenue Bonds, Series A, NPFG, zero coupon, due 6/1/24    59,044 
      City of Tacoma WA Electric System Revenue, Revenue Bonds:     
 30,000  AA 5.000% due 1/1/29    31,783 
 35,000  AA 5.000% due 1/1/36    36,754 
 1,000,000  Aaa(a) Franklin County School District No 1 Pasco, GO, 4.250% due 12/1/42    1,016,266 
 1,690,000  Baa2(a) Grant County Public Hospital District No 1, GO, 5.500% due 12/1/43    1,774,113 
 1,000,000  BB+ Grays Harbor County Public Hospital District No 1, Revenue Bonds, 6.875% due 12/1/53    1,024,413 
      Port of Seattle WA, Revenue Bonds:     
 35,000  AA- 5.000% due 2/1/27    36,345 
 70,000  AA- 5.000% due 2/1/29    72,631 
 85,000  AA- Series A, 5.000% due 5/1/29(c)    88,520 
 1,000,000  AA Series B, 5.000% due 10/1/26(c)    1,030,705 
 980,000  AA Series B, 5.000% due 10/1/27(c)    1,009,870 
 135,000  AA Series B, 5.000% due 10/1/29(c)    138,568 
      State of Washington, GO:     
 50,000  AA+ Series 2017A, 5.000% due 8/1/27    52,641 
 3,430,000  AA+ Series A, 5.000% due 8/1/32    3,744,288 
 7,500,000  AA+ Series A3, 5.000% due 8/1/45    8,157,770 
 2,500,000  AA+ Series B, 5.000% due 6/1/44    2,754,810 
 5,000,000  AA+ Series C, 5.000% due 2/1/33    5,509,530 
 2,500,000  AA+ Series E, 5.000% due 6/1/43    2,714,608 
 50,000  AA+ Series R2017A, 5.000% due 8/1/28    52,602 
 50,000  AA+ Series R2017A, 5.000% due 8/1/30    52,406 
 355,000  AA+ Series R2018C, 5.000% due 8/1/30    379,775 
 640,000  AA+ Series R2018D, 5.000% due 8/1/33    680,551 
 5,000,000  AA+ Series R2018D, 5.000% due 8/1/35    5,290,193 
 100,000  A Tobacco Settlement Authority, Revenue Bonds, 5.000% due 6/1/24    100,054 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Municipal Fixed Income Fund (continued) 

 

Face
Amount/Units		  Rating†† Security  Value 
Washington - 4.6% - (continued)
      Washington Health Care Facilities Authority, Revenue Bonds:     
$60,000  BBB+ 5.000% due 7/1/26   $61,017 
 70,000  A 5.000% due 10/1/27    73,761 
 60,000  A 5.000% due 10/1/28    64,062 
 90,000  BBB+ 5.000% due 7/1/29    92,582 
 20,000  BBB+ 5.000% due 7/1/34    20,435 
 780,000  BBB+ 5.000% due 7/1/42    782,197 
 115,000  A Series A, 5.000% due 10/1/24    115,048 
 440,000  A- Series A, 5.000% due 8/1/39    456,066 
 40,000  A2(a) Series Prerefunded 7/1/25 @ 100, 5.000% due 1/1/29(e)    41,111 
      Washington Higher Education Facilities Authority, Revenue Bonds:     
 15,000  Baa1(a) Series A, 5.000% due 10/1/29    15,487 
 35,000  Baa1(a) Series A, 5.000% due 10/1/30    36,071 
 40,000  Baa1(a) Series A, 5.000% due 10/1/31    41,165 
 210,000  Baa1(a) Series A, 5.000% due 10/1/33    215,543 
 2,000,000  BBB- Washington State Convention Center Public Facilities District, Revenue Bonds, 3.000% due 7/1/48    1,437,819 
 500,000  BBB Washington State Housing Finance Commission, Revenue Bonds, 6.250% due 7/1/59(d)    541,108 
      Total Washington    39,801,712 
West Virginia - 1.5%
      State of West Virginia, GO:     
 10,000,000  AA- Series B, 5.000% due 12/1/34    10,830,693 
 2,000,000  AA- Series B, 5.000% due 6/1/35    2,162,378 
 190,000  BBB+ West Virginia Hospital Finance Authority, Revenue Bonds, 5.000% due 1/1/33    196,814 
      Total West Virginia    13,189,885 
Wisconsin - 1.4%
 3,385,000  AAA County of Dane WI, GO, Series A, 3.000% due 6/1/25    3,363,314 
      Public Finance Authority, Revenue Bonds:     
 2,000,000  NR 4.250% due 7/1/54(c)    1,387,904 
 160,000  A 5.000% due 1/1/31    169,522 
 2,680,000  Aa2(a) Series A, 4.000% due 8/1/59    2,628,673 
 500,000  BB+ Series A, 5.000% due 10/1/39(d)    493,511 
 1,000,000  BBB- Series A, 5.750% due 7/1/53(d)    1,017,623 
 1,500,000  AA Racine Unified School District, GO, AGM-Insured, 5.000% due 4/1/38    1,640,075 
      Wisconsin Health & Educational Facilities Authority, Revenue Bonds:     
 255,000  A+ 5.000% due 11/15/24    257,629 
 25,000  A- 5.000% due 5/1/26    25,106 
 50,000  A2(a) 5.000% due 6/1/27    50,037 
 195,000  A+ 5.000% due 11/15/27    197,578 
 50,000  A- 5.000% due 5/1/28    50,252 
 25,000  A- 5.000% due 5/1/29    25,125 
 30,000  A2(a) 5.000% due 6/1/32    30,017 
 70,000  A2(a) 5.000% due 6/1/39    70,019 
 1,190,000  AA Series B3, 5.000% due 8/15/54(b)    1,192,277 
 360,000  AA+ Wisconsin Housing & Economic Development Authority Home Ownership Revenue, Revenue Bonds, Series A, 3.500% due 9/1/50    352,493 
      Total Wisconsin    12,951,155 
      TOTAL MUNICIPAL BONDS     
      (Cost - $837,182,052)    825,531,558 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Municipal Fixed Income Fund (continued) 

 

Shares/Units   Security  Value 
EXCHANGE TRADED FUND (ETF) - 1.9%
 328,069   Vanguard Tax-Exempt Bond Index   $16,406,731 
     (Cost - $16,134,992)      
            TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS
(Cost - $853,317,044) 		       841,938,289   

 

Face
Amount		        
         
SHORT-TERM INVESTMENTS - 3.2% 
MUNICIPAL BONDS - 0.4%
$1,750,000   Crowley Independent School District, GO, PSF-GTD-Insured, 5.000% due 2/1/24    1,754,641 
 1,400,000   PMA Levy & Aid Anticipation Notes Program, Revenue Notes, Series A, 5.000% due 9/25/24    1,415,803 
     TOTAL MUNICIPAL BONDS     
     (Cost - $3,168,598)    3,170,444 
TIME DEPOSITS - 2.8%
 2,274,804   ANZ National Bank - London, 4.680% due 12/1/23    2,274,804 
 14,723,594   Barclays Bank PLC - London, 4.680% due 12/1/23    14,723,594 
 5,512,512   Citibank - New York, 4.680% due 12/1/23    5,512,512 
 2,200,465   JPMorgan Chase & Co. - New York, 4.680% due 12/1/23    2,200,465 
     TOTAL TIME DEPOSITS     
     (Cost - $24,711,375)    24,711,375 
     TOTAL SHORT-TERM INVESTMENTS     
     (Cost - $27,879,973)    27,881,819 
     TOTAL INVESTMENTS - 99.9%     
     (Cost - $881,197,017)    869,820,108 
     Other Assets in Excess of Liabilities - 0.1%    1,265,929 
     TOTAL NET ASSETS - 100.0%   $871,086,037 

 

 

††All ratings are by Standard & Poor's Rating Service, unless otherwise noted.
(a)Rating by Moody's Investors Service. All ratings are unaudited.
(b)Variable rate security. Interest rate disclosed is that which was in effect at November 30, 2023.
(c)Income from this issue is considered a preference item for purposes of calculating the alternative minimum tax (AMT).
(d)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 November 30, 2023, amounts to $42,592,436 and represents 4.89% of net assets.
(e)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.
(f)Rating by Fitch Ratings Service. All ratings are unaudited.
(g)Illiquid security. The aggregate value of illiquid holdings at November 30, 2023, amounts to $36,954 and represents 0.00% of net assets.
(h)When-Issued or delayed delivery security.

 

 

 

 

Schedules of Investments

November 30, 2023 (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
ETF   Exchange Traded Fund
MTA — Metropolitan Transportation Authority
NPFG — National Public Finance Guarantee Corporation
PLC — Public Limited Company
PSF-GTD — Permanent School Fund Guaranteed

 

Summary of Investments by Security Industry^        
General Obligation    38.9%
Education    14.2 
Water and Sewer    9.2 
Health Care Providers & Services    7.5 
Airport    6.5 
Development    5.9 
Transportation    5.6 
Power    2.0 
Single Family Housing    1.2 
Tobacco Settlement    1.0 
Utilities    0.9 
Multifamily Housing    0.7 
Bond Bank    0.4 
Student Loan    0.4 
Nursing Homes    0.3 
Pollution    0.1 
Housing    0.1 
Exchange Traded Funds (ETFs)   1.9 
Short-Term Investments    3.2 
    100.0%

 

 

^ As  a percentage of total investments.

 

At November 30, 2023, Destinations Municipal Fixed Income Fund had open exchange traded futures contracts as described below.

 

The unrealized (depreciation) on the open contracts was as follows:

 

Open Futures Contracts  Number of
Contracts		   Expiration
Date
(Month/Year)		   Notional
Amounts		   Market Value   Unrealized
(Depreciation)		 
                     
Contracts to Sell:                       
U.S. Long Bond (CBT)   6   3/24   $(695,205)  $698,625   $(3,420)

 

At November 30, 2023, Destinations Municipal Fixed Income Fund had deposited cash of $ 32,820 with a broker or brokers as margin collateral on open exchange traded futures contracts.

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Shelter Fund

 

Shares/Units   Security  Value 
COMMON STOCKS - 99.5%
BASIC MATERIALS - 1.8%
Chemicals - 1.4%
 2,745   Huntsman Corp.   $67,527 
 1,690   Linde PLC    699,271 
 2,192   LyondellBasell Industries NV, Class A Shares    208,459 
 4,328   Nutrien Ltd.    231,418 
 442   Olin Corp.    20,836 
 1,318   RPM International Inc.    135,662 
     Total Chemicals    1,363,173 
Iron/Steel - 0.0%
 1,732   Vale SA, Class B Shares, ADR    25,980 
Mining - 0.4%
 1,743   Barrick Gold Corp.    30,659 
 6,964   Freeport-McMoRan Inc.    259,897 
 651   Rio Tinto PLC, ADR    44,978 
 396   Southern Copper Corp.    28,484 
     Total Mining    364,018 
     TOTAL BASIC MATERIALS    1,753,171 
COMMUNICATIONS - 14.0%
Internet - 10.8%
 3,034   Alphabet Inc., Class A Shares*(a)    402,096 
 26,135   Alphabet Inc., Class C Shares*(a)    3,499,999 
 24,032   Amazon.com Inc.*(a)    3,510,835 
 139   Booking Holdings Inc.*    434,472 
 3,079   eBay Inc.    126,270 
 451   Lyft Inc., Class A Shares*    5,290 
 22   MercadoLibre Inc.*    35,650 
 5,836   Meta Platforms Inc., Class A Shares*(a)    1,909,247 
 1,170   Netflix Inc.*(a)    554,545 
 73   Roku Inc., Class A Shares*    7,607 
 779   Shopify Inc., Class A Shares*    56,727 
 1,097   Uber Technologies Inc.*    61,849 
 484   VeriSign Inc.*    102,705 
     Total Internet    10,707,292 
Media - 1.4%
 13,278   Comcast Corp., Class A Shares    556,215 
 316   FactSet Research Systems Inc.    143,293 
 280   Liberty Broadband Corp., Class C Shares*    23,274 
 385   New York Times Co., Class A Shares    18,091 
 7,920   Sirius XM Holdings Inc.    37,066 
 6,258   Walt Disney Co.*(a)    580,054 
     Total Media    1,357,993 
Telecommunications - 1.8%
 27,511   AT&T Inc.    455,857 
 868   Ciena Corp.*    39,798 
 12,777   Cisco Systems Inc.(a)    618,151 
 13,618   Telefonaktiebolaget LM Ericsson, ADR    66,592 
 13,712   Verizon Communications Inc.(a)    525,581 
2,887     Vodafone Group PLC, ADR     26,156  
      Total Telecommunications     1,732,135  
      TOTAL COMMUNICATIONS     13,797,420  

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Shelter Fund (continued)

 

Shares/Units     Security     Value  
CONSUMER CYCLICAL - 8.8%    
Airlines - 0.2%    
4,966   Delta Air Lines Inc.  $183,394 
Apparel - 0.5%         
491   Capri Holdings Ltd.*   23,784 
51   Deckers Outdoor Corp.*   33,862 
3,814   NIKE Inc., Class B Shares   420,570 
524   Skechers USA Inc., Class A Shares*   30,869 
    Total Apparel   509,085 
Auto Manufacturers - 1.8%     
7,563   Tesla Inc.*(a)   1,815,725 
Auto Parts & Equipment - 0.5%     
246   Autoliv Inc.   25,491 
974   Gentex Corp.   29,619 
5,896   Goodyear Tire & Rubber Co.*   81,895 
494   Lear Corp.   66,073 
4,628   Magna International Inc.   249,496 
    Total Auto Parts & Equipment   452,574 
Distribution/Wholesale - 0.2%     
307   WW Grainger Inc.   241,360 
Entertainment - 0.1%     
444   DraftKings Inc., Class A Shares*   16,979 
198   Light & Wonder Inc.*   17,507 
243   Vail Resorts Inc.   52,806 
    Total Entertainment   87,292 
Food Service - 0.0%     
1,163   Aramark   32,576 
Home Builders - 0.5%     
2,557   DR Horton Inc.   326,452 
1,604   Toll Brothers Inc.   137,768 
    Total Home Builders   464,220 
Home Furnishings - 0.0%     
764   Leggett & Platt Inc.   17,473 
Leisure Time - 0.1%     
204   Brunswick Corp.   16,090 
1,589   Harley-Davidson Inc.   47,654 
223   Planet Fitness Inc., Class A Shares*   15,151 
52   Polaris Inc.   4,288 
    Total Leisure Time   83,183 
Lodging - 0.1%     
1,943   Las Vegas Sands Corp.   89,611 
Retail – 4.8%     
80   Burlington Stores Inc.*   13,567 
1,590   Costco Wholesale Corp.   942,457 
192   Dick's Sporting Goods Inc.   24,979 
277   Five Below Inc.*   52,203 
3,171   Home Depot Inc.(a)   994,077 
568   Kohl's Corp.   13,320 
2,271   Lowe's Cos., Inc.   451,543 
2,323   McDonald's Corp.   654,714 
831   Restaurant Brands International Inc.   59,067 
4,021   Starbucks Corp.   399,285 
4,701   TJX Cos., Inc.   414,205 
  4,278   Walmart Inc.(a)   666,042 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Shelter Fund (continued)

 

Shares/Units   Security  Value 
CONSUMER CYCLICAL - 8.8% - (continued)    
Retail – 4.8% - (continued)     
241   Williams-Sonoma Inc.  $45,197 
485   Yum China Holdings Inc.   20,942 
    Total Retail   4,751,598 
    TOTAL CONSUMER CYCLICAL   8,728,091 
CONSUMER NON-CYCLICAL - 18.4%     
Agriculture - 0.6%     
2,467   British American Tobacco PLC, ADR   78,673 
5,957   Philip Morris International Inc.   556,146 
    Total Agriculture   634,819 
Beverages - 1.5%     
1,598   Constellation Brands Inc., Class A Shares   384,303 
9,076   Keurig Dr Pepper Inc.   286,529 
2,726   Molson Coors Beverage Co., Class B Shares   167,758 
12,625   Monster Beverage Corp.*   696,269 
    Total Beverages   1,534,859 
Biotechnology - 1.1%     
185   Alnylam Pharmaceuticals Inc.*   31,126 
1,822   Amgen Inc.   491,284 
696   Biogen Inc.*   162,920 
435   BioMarin Pharmaceutical Inc.*   39,620 
388   Regeneron Pharmaceuticals Inc.*   319,638 
4   Seagen Inc.*   853 
182   United Therapeutics Corp.*   43,680 
    Total Biotechnology   1,089,121 
Commercial Services - 1.5%     
1,965   Automatic Data Processing Inc.   451,793 
2,935   Block Inc., Class A Shares*   186,167 
509   Booz Allen Hamilton Holding Corp., Class A Shares   63,691 
1,171   Global Payments Inc.   136,351 
99   Herc Holdings Inc.   12,242 
1,378   S&P Global Inc.   573,014 
1,031   TransUnion   60,540 
581   Vestis Corp.*   10,638 
    Total Commercial Services   1,494,436 
Food - 1.3%     
3,024   Campbell Soup Co.   121,504 
5,229   Hormel Foods Corp.   159,955 
1,512   JM Smucker Co.   165,912 
12,260   Kellanova   644,140 
2,202   McCormick & Co., Inc.   142,756 
737   US Foods Holding Corp.*   32,303 
780   WK Kellogg Co.   8,736 
    Total Food   1,275,306 
Healthcare-Products - 3.3%     
5,909   Abbott Laboratories   616,250 
1,138   Alcon Inc.   86,067 
1,633   Avantor Inc.*   34,587 
2,445   Danaher Corp.   545,993 
220   Enovis Corp.*   10,881 
348   Exact Sciences Corp.*   22,272 
1,694   GE HealthCare Technologies Inc.   115,971 
  1,385   Intuitive Surgical Inc.*   430,513 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Shelter Fund (continued)

 

Shares/Units   Security  Value 
CONSUMER NON-CYCLICAL - 18.4% - (continued)    
Healthcare-Products - 3.3% - (continued)    
4,964   Medtronic PLC  $393,496 
1,394   Thermo Fisher Scientific Inc.   691,089 
538   Waters Corp.*   150,968 
1,555   Zimmer Biomet Holdings Inc.   180,862 
    Total Healthcare-Products   3,278,949 
Healthcare-Services - 2.1%     
947   Elevance Health Inc.   454,077 
196   ICON PLC*   52,320 
439   Molina Healthcare Inc.*   160,481 
2,608   UnitedHealth Group Inc.(a)   1,442,146 
    Total Healthcare-Services   2,109,024 
Household Products/Wares - 1.0%     
1,211   Clorox Co.   173,597 
6,037   Kimberly-Clark Corp.   746,958 
663   Spectrum Brands Holdings Inc.   45,966 
    Total Household Products/Wares   966,521 
Pharmaceuticals – 6.0%     
5,066   AbbVie Inc.   721,348 
1,291   AstraZeneca PLC, ADR   83,386 
1,507   Becton Dickinson & Co.   355,923 
1,267   Cigna Group   333,069 
4,986   CVS Health Corp.   338,799 
1,524   DexCom Inc.*   176,053 
2,147   Eli Lilly & Co.   1,268,963 
238   Jazz Pharmaceuticals PLC*   28,139 
7,182   Johnson & Johnson(a)   1,110,768 
8,011   Merck & Co., Inc.   820,967 
183   Novartis AG, ADR   17,916 
355   Perrigo Co. PLC   10,813 
17,338   Pfizer Inc.(a)   528,289 
52   Sandoz Group AG, ADR*   1,484 
2,538   Teva Pharmaceutical Industries Ltd., ADR*   24,923 
    Total Pharmaceuticals   5,820,840 
    TOTAL CONSUMER NON-CYCLICAL   18,203,875 
ENERGY - 4.2%     
Oil & Gas - 3.5%     
1,669   Canadian Natural Resources Ltd.   111,489 
3,832   Cenovus Energy Inc.   68,056 
5,900   Chevron Corp.   847,240 
3,330   EOG Resources Inc.   409,823 
12,382   Exxon Mobil Corp.(a)   1,272,127 
227   HF Sinclair Corp.   11,913 
3,501   Occidental Petroleum Corp.   207,084 
1,205   Ovintiv Inc.   53,430 
2,295   Phillips 66   295,803 
629   Range Resources Corp.   20,442 
2,703   Suncor Energy Inc.   89,172 
    Total Oil & Gas   3,386,579 
Oil & Gas Services - 0.4%     
  1,770   NOV Inc.   33,311 
7,067   Schlumberger NV   367,767 
      Total Oil & Gas Services   401,078 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Shelter Fund (continued)

 

Shares/Units   Security  Value 
ENERGY - 4.2% - (continued)    
Pipelines - 0.3%    
528   Cheniere Energy Inc.  $96,175 
1,370   Enbridge Inc.   47,772 
1,562   Targa Resources Corp.   141,283 
951   TC Energy Corp.   35,682 
    Total Pipelines   320,912 
    TOTAL ENERGY   4,108,569 
FINANCIAL - 14.4%     
Banks - 4.1%     
5,068   Banco Bradesco SA, ADR   16,876 
20,917   Bank of America Corp.(a)   637,759 
60   Bank of Montreal   4,937 
5,686   Citigroup Inc.   262,125 
255   Cullen/Frost Bankers Inc.   25,064 
1,227   East West Bancorp Inc.   77,203 
2,100   First Horizon Corp.   26,859 
1,483   Goldman Sachs Group Inc.   506,504 
554   ICICI Bank Ltd., ADR   12,282 
4,360   Itau Unibanco Holding SA, ADR   27,904 
8,138   JPMorgan Chase & Co.(a)   1,270,179 
1,435   M&T Bank Corp.   183,924 
5,625   Morgan Stanley   446,288 
12,708   Wells Fargo & Co.   566,650 
    Total Banks   4,064,554 
Diversified Financial Services - 4.0%     
2,638   American Express Co.   450,491 
940   Ameriprise Financial Inc.   332,299 
453   Brookfield Asset Management Ltd., Class A Shares   15,869 
4,298   Charles Schwab Corp.   263,553 
28   Credit Acceptance Corp.*   12,796 
322   Evercore Inc., Class A Shares   47,511 
1,682   Jefferies Financial Group Inc.   59,610 
2,812   Mastercard Inc., Class A Shares(a)   1,163,690 
3,522   Nasdaq Inc.   196,668 
5,186   Visa Inc., Class A Shares(a)   1,331,142 
249   Voya Financial Inc.   17,806 
    Total Diversified Financial Services   3,891,435 
Equity Real Estate Investment Trusts (REITs) - 2.2%     
4,374   American Homes 4 Rent, Class A Shares   158,645 
2,481   Annaly Capital Management Inc.   44,832 
1,043   AvalonBay Communities Inc.   180,376 
1,104   Camden Property Trust   99,647 
2,008   CubeSmart   79,838 
1,984   Equity LifeStyle Properties Inc.   141,062 
3,439   Equity Residential   195,473 
813   Essex Property Trust Inc.   173,543 
5,278   Invitation Homes Inc.   176,074 
1,310   Medical Properties Trust Inc.   6,354 
1,701   Mid-America Apartment Communities Inc.   211,741 
148   NET Lease Office Properties*   2,420 
5,458   Realty Income Corp.   294,514 
581   Sun Communities Inc.   75,147 
  6,749   VICI Properties Inc., Class A Shares   201,728 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Shelter Fund (continued)

 

Shares/Units   Security  Value 
FINANCIAL - 14.4% - (continued)    
Equity Real Estate Investment Trusts (REITs) - 2.2% - (continued)    
2,231   WP Carey Inc.  $138,857 
    Total Equity Real Estate Investment Trusts (REITs)   2,180,251 
Insurance – 3.9%     
3,161   Aflac Inc.   261,446 
955   Aon PLC, Class A Shares   313,708 
1,800   Arthur J Gallagher & Co.   448,200 
5,632   Berkshire Hathaway Inc., Class B Shares*   2,027,520 
2,817   Brown & Brown Inc.   210,543 
2,124   Fidelity National Financial Inc.   95,240 
5,545   Manulife Financial Corp.   108,627 
104   Markel Group Inc.*   149,665 
187   RenaissanceRe Holdings Ltd.   40,085 
2,111   Unum Group   90,773 
1,697   WR Berkley Corp.   123,117 
    Total Insurance   3,868,924 
Private Equity - 0.2%     
1,210   Brookfield Corp.   42,677 
1,435   KKR & Co., Inc.   108,830 
    Total Private Equity   151,507 
Real Estate - 0.0%     
161   Jones Lang LaSalle Inc.*   25,039 
Savings & Loans - 0.0%     
2,951   New York Community Bancorp Inc.   27,769 
    TOTAL FINANCIAL   14,209,479 
INDUSTRIAL - 7.5%     
Aerospace/Defense - 1.1%     
1,825   Boeing Co.*   422,725 
1,898   General Dynamics Corp.   468,749 
1,075   HEICO Corp.   183,857 
    Total Aerospace/Defense   1,075,331 
Building Materials - 0.1%     
315   Lennox International Inc.   128,098 
249   Louisiana-Pacific Corp.   15,187 
    Total Building Materials   143,285 
Electrical Components & Equipment - 0.4%     
359   Acuity Brands Inc.   64,354 
1,994   AMETEK Inc.   309,529 
    Total Electrical Components & Equipment   373,883 
Electronics - 0.6%     
6,396   Amphenol Corp., Class A Shares   581,972 
931   Sensata Technologies Holding PLC   30,267 
    Total Electronics   612,239 
Engineering & Construction - 0.1%     
694   AECOM   61,669 
Environmental Control - 0.5%     
1,787   Republic Services Inc., Class A Shares   289,208 
815   Veralto Corp.*   62,959 
806   Waste Connections Inc.   109,205 
    Total Environmental Control   461,372 
Hand/Machine Tools - 0.0%     
  148   Lincoln Electric Holdings Inc.   29,313 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Shelter Fund (continued)

 

Shares/Units   Security  Value 
INDUSTRIAL - 7.5% - (continued)    
Machinery-Construction & Mining - 0.6%    
1,347   BWX Technologies Inc.  $105,106 
1,931   Caterpillar Inc.   484,140 
    Total Machinery-Construction & Mining   589,246 
Machinery-Diversified - 1.4%     
227   AGCO Corp.   25,771 
477   Cognex Corp.   17,983 
911   Deere & Co.   331,978 
1,733   Dover Corp.   244,630 
1,956   Graco Inc.   158,006 
710   IDEX Corp.   143,193 
530   Nordson Corp.   124,730 
704   Rockwell Automation Inc.   193,910 
1,686   Xylem Inc.   177,249 
    Total Machinery-Diversified   1,417,450 
Miscellaneous Manufacturers - 1.2%     
3,701   3M Co.   366,658 
330   Carlisle Cos., Inc.   92,535 
3,744   General Electric Co.   456,019 
2,842   Textron Inc.   217,868 
    Total Miscellaneous Manufacturers   1,133,080 
Packaging & Containers - 0.3%     
617   Crown Holdings Inc.   53,068 
906   Packaging Corp. of America   152,217 
1,417   Sonoco Products Co.   78,162 
    Total Packaging & Containers   283,447 
Transportation - 1.2%     
530   Canadian National Railway Co.   61,453 
1,121   Canadian Pacific Kansas City Ltd.   80,712 
2,139   Union Pacific Corp.   481,853 
3,582   United Parcel Service Inc., Class B Shares   543,067 
283   XPO Inc.*   24,417 
    Total Transportation   1,191,502 
    TOTAL INDUSTRIAL   7,371,817 
TECHNOLOGY - 27.7%     
Computers - 8.8%     
2,092   Accenture PLC, Class A Shares   696,929 
38,644   Apple Inc.(a)   7,340,428 
484   Check Point Software Technologies Ltd.*   70,664 
1,338   Dell Technologies Inc., Class C Shares   101,514 
3,138   International Business Machines Corp.   497,561 
138   Kyndryl Holdings Inc.*   2,488 
    Total Computers   8,709,584 
Semiconductors - 7.5%     
5,097   Advanced Micro Devices Inc.*   617,553 
3,538   Applied Materials Inc.   529,922 
181   ASML Holding NV, Class NY Registered Shares, ADR   123,761 
1,239   Broadcom Inc.(a)   1,146,980 
285   Cirrus Logic Inc.*   21,634 
682   Entegris Inc.   71,201 
583   Lam Research Corp.   417,381 
1,980   Marvell Technology Inc.   110,345 
  4,028   Micron Technology Inc.   306,611 

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Shelter Fund (continued)

 

Shares/Units   Security  Value 
TECHNOLOGY - 27.7% - (continued)    
Semiconductors - 7.5% - (continued)    
6,584   NVIDIA Corp.(a)  $3,079,337 
1,421   NXP Semiconductors NV   289,998 
2,501   ON Semiconductor Corp.*   178,396 
3,689   QUALCOMM Inc.   476,065 
158   Silicon Laboratories Inc.*   16,648 
309   Taiwan Semiconductor Manufacturing Co., Ltd., ADR   30,069 
    Total Semiconductors   7,415,901 
Software - 11.4%     
1,399   Adobe Inc.*(a)   854,803 
1,037   Intuit Inc.   592,604 
19,428   Microsoft Corp.(a)   7,361,464 
5,139   Oracle Corp.   597,203 
2,990   Salesforce Inc.*(a)   753,181 
470   SAP SE, ADR   74,786 
803   ServiceNow Inc.*   550,649 
3,477   SS&C Technologies Holdings Inc.   195,616 
233   Veeva Systems Inc., Class A Shares*   40,614 
373   Workday Inc., Class A Shares*   100,979 
1,765   Zoom Video Communications Inc., Class A Shares*   119,720 
    Total Software   11,241,619 
    TOTAL TECHNOLOGY   27,367,104 
UTILITIES - 2.7%     
Electric - 2.6%         
4,615   Alliant Energy Corp.   233,381 
4,965   Ameren Corp.   385,234 
6,849   American Electric Power Co., Inc.   544,838 
3,809   Consolidated Edison Inc.   343,229 
9,929   PPL Corp.   259,345 
13,670   Xcel Energy Inc.   831,683 
    Total Electric   2,597,710 
Water - 0.1%     
  3,490   Essential Utilities Inc.   124,279 
    TOTAL UTILITIES   2,721,989 
    TOTAL COMMON STOCKS    
    (Cost - $92,340,070)   98,261,515 

 

Number of
Contracts		  Notional
Amounts		       
           
PURCHASED OPTIONS - 0.4% 
Index Option - 0.4% 
71  $32,431,380  S&P 500 Index Options, Put, @ $4,075.00, expires 12/29/23, Counterparty: MSC   20,590 
71   32,431,380  S&P 500 Index Options, Put, @ $3,985.00, expires 1/31/24, Counterparty: MSC   55,380 
71   32,431,380  S&P 500 Index Options, Put, @ $4,330.00, expires 2/29/24, Counterparty: MSC   282,225 
       TOTAL PURCHASED OPTIONS     
       (Cost - $1,142,721)   358,195 
       TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS     
       (Cost - $93,482,791)   98,619,710 

 
Face Amount   Security  Value 
SHORT-TERM INVESTMENTS - 2.0% 
TIME DEPOSITS - 2.0% 
$715,393   Citibank - New York, 4.680% due 12/1/23  $715,393 
 1,246,741   JPMorgan Chase & Co. - New York, 4.680% due 12/1/23   1,246,741 
     TOTAL TIME DEPOSITS     
     (Cost - $1,962,134)   1,962,134 
     TOTAL INVESTMENTS - 101.9%     
     (Cost - $95,444,925)   100,581,844 
     Liabilities in Excess of Other Assets - (1.9)%   (1,838,105)
     TOTAL NET ASSETS - 100.0%  $98,743,739 

 

 

*    Non-income producing security.

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

 

Abbreviations used in this schedule:
ADR — American Depositary Receipts
PLC — Public Limited Company
REIT — Real Estate Investment Trust

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Shelter Fund (continued)

 

Summary of Investments by Security Sector^        
Technology   27.2%
Consumer Non-cyclical   18.1 
Financial   14.1 
Communications   13.7 
Consumer Cyclical   8.7 
Industrial   7.3 
Energy   4.1 
Utilities   2.7 
Basic Materials   1.7 
Purchased Options   0.4 
Short-Term Investments   2.0 
    100.0%

 

 

^ As a percentage of total investments.

 

 

 

 

Schedules of Investments

November 30, 2023 (unaudited)

 

Destinations Shelter Fund (concluded)

 

Schedule of Options Contracts Written

Index Options

 

Number of
Contracts		   Notional
Amount		   Security Name  Counterparty   Expiration
Date		  Exercise
Rate		   Value 
35   $15,987,300   S&P 500 Index Options, Call  MSC   12/29/23  $4,500.00   $(392,350)
36    16,444,080   S&P 500 Index Options, Call  MSC   1/31/24   4,415.00    (798,300)
36    16,444,080   S&P 500 Index Options, Call  MSC   2/29/24   4,790.00    (127,980)
71    32,431,380   S&P 500 Index Options, Put  MSC   12/29/23   3,425.00    (3,550)
71    32,431,380   S&P 500 Index Options, Put  MSC   1/31/24   3,350.00    (14,733)
71    32,431,380   S&P 500 Index Options, Put  MSC   2/29/24   3,650.00    (50,055)
         TOTAL OPTIONS CONTRACTS WRITTEN                 
         (Premiums received — $686,347)              $(1,386,968)

 

Counterparty Abbreviations used in this schedule:
MSC — Morgan Stanley

 

 

 

 

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

November 30, 2023 (unaudited)

 

1. Organization

 

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

 

Orion Portfolio Solutions, LLC (“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.

 

 

 

 

Notes to Financial Statements

November 30, 2023 (unaudited) (continued)

 

2. Investment valuation (continued)

 

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.

 

 

 

 

Notes to Financial Statements

November 30, 2023 (unaudited) (continued)

 

2. Investment valuation (continued)

 

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

 

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

 

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

 

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

 

   Total Fair Value at
November 30, 2023		   Unadjusted Quoted
Prices
in Active Markets
for Identical
Investments
(Level 1)		   Significant
Observable
Inputs
(Level 2)		   Significant
Unobservable
Inputs
(Level 3)		 
Destinations Large Cap Equity Fund                    
Investments, at value                    
Common Stocks:                    
Basic Materials  $69,439,355   $69,439,355   $–   $– 
Communications   466,706,608    466,132,047    574,561    – 
Consumer Cyclical   435,996,414    435,996,414    –    – 
Consumer Non-cyclical   850,683,661    850,683,661    –    – 
Energy   189,124,981    189,124,981    –    – 
Financial   655,860,269    655,299,050    –    561,219 
Industrial   327,150,466    327,150,466    –    – 
Technology   807,578,090    804,156,032    –    3,422,058 
Utilities   66,485,576    66,485,576    –    – 
Exchange Traded Funds (ETFs)   55,958,214    55,958,214    –    – 
Preferred Stocks:                    
Consumer Cyclical   1,108,459    –    –    1,108,459 
Industrial   3,105,391    –    –    3,105,391 
Technology   3,357,931    –    –    3,357,931 
Short-Term Investments:                    
Time Deposits   60,227,674    –    60,227,674    – 
Money Market Fund   22,695,635    22,695,635    –    – 
Total Investments, at value  $4,015,478,724   $3,943,121,431   $60,802,235   $11,555,058 
Other Financial Instruments - Assets                    
Futures Contracts  $129,300   $129,300   $–   $– 
Total Other Financial Instruments - Assets  $129,300   $129,300   $–   $– 

 

 

 

 

Notes to Financial Statements

November 30, 2023 (unaudited) (continued)

 

2. Investment valuation (continued)

 

   Total Fair Value at
November 30, 2023		   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  $754,051,295   $754,051,295   $–   $– 
Exchange Traded Funds (ETFs)   7,712,804    7,712,804    –    – 
REIT   32,030    32,030    –    – 
Limited Partnership   22,691    22,691    –    – 
Closed-End Fund   4,489    4,489    –    – 
Short-Term Investments:                    
Time Deposits   26,937,353    –    26,937,353    – 
Money Market Fund   6,946,300    6,946,300    –    – 
Total Investments, at value  $795,706,962   $768,769,609   $26,937,353   $– 
Other Financial Instruments - Assets                    
Futures Contracts  $7,780   $7,780   $–   $– 
Total Other Financial Instruments - Assets  $7,780   $7,780   $–   $– 

 

 

 

Notes to Financial Statements

November 30, 2023 (unaudited) (continued)

 

2. Investment valuation (continued)

 

   Total Fair Value at
November 30, 2023		   Unadjusted Quoted
Prices
in Active Markets
for Identical
Investments
(Level 1)		   Significant
Observable
Inputs
(Level 2)		   Significant
Unobservable
Inputs
(Level 3)		 
Destinations International Equity Fund                    
Investments, at value                    
Common Stocks:                    
Argentina  $2,250,280   $2,250,280   $–   $– 
Australia   41,660,392    –    41,660,392    – 
Austria   2,087,812    –    2,087,812    – 
Belgium   3,047,451    –    3,047,451    – 
Bermuda   2,116,408    –    2,116,408    – 
Brazil   50,381,421    11,631,381    38,750,040    – 
Cambodia   20,270    –    20,270    – 
Canada   128,486,857    18,624,507    109,862,350    – 
Chile   91,203    –    91,203    – 
China   74,667,534    23,329,999    51,337,535    – 
Cyprus   2    –    –    2 
Denmark   23,320,095    5,971,898    17,348,197    – 
Finland   18,813,700    –    18,813,700    – 
France   169,913,563    –    169,913,563    – 
Germany   168,425,756    –    168,425,756    – 
Greece   1,533,604    –    1,533,604    – 
Hong Kong   70,700,171    –    70,700,171    – 
India   162,751,325    18,942,078    143,809,247    – 
Indonesia   15,087,306    –    15,087,306    – 
Ireland   40,746,255    15,520,414    25,225,841    – 
Israel   4,984,103    1,335,081    3,649,022    – 
Italy   49,268,413    1,496,101    47,772,312    – 
Japan   379,879,600    –    379,879,600    – 
Jersey, Channel Islands   3,743,096    –    3,743,096    – 
Jordan   43,653    –    43,653    – 
Lithuania   2,567,460    –    2,567,460    – 
Luxembourg   2,172,292    –    2,172,292    – 
Macau   106,753    –    106,753    – 
Malaysia   1,094,536    –    1,094,536    – 
Mexico   7,190,728    –    7,190,728    – 
Netherlands   85,993,651    –    85,993,651    – 
New Zealand   729,408    –    729,408    – 
Norway   36,345,886    –    36,345,886    – 
Peru   2,726,137    2,216,107    510,030    – 
Philippines   5,719,328    –    5,719,328    – 
Poland   6,753,936    –    6,753,936    – 
Portugal   8,718,224    –    8,718,224    – 
Russia   742    –    –    742 
Saudi Arabia   2,425,602    –    2,425,602    – 
Singapore   22,312,793    1,766,522    20,546,271    – 
South Africa   11,127,863    1,010,501    10,117,362    – 
South Korea   82,829,194    –    82,829,194    – 
Spain   29,157,519    –    29,157,519    – 
Sweden   94,110,973    444,801    93,666,172    – 
Switzerland   109,950,048    2,271,280    107,678,768    – 
Taiwan   72,946,580    18,376,702    54,569,878    – 
Thailand   5,494,985    –    5,494,985    – 
Turkey   5,689,705    –    5,689,705    – 
United Arab Emirates   404,426    –    404,426    – 
United Kingdom   228,682,632    8,654,817    219,746,304    281,511 
United States   45,014,197    44,431,664    46,409    536,124 
Uruguay   16,514,108    16,514,108    –    – 
Exchange Traded Funds (ETFs)   90,415,764    90,415,764    –    – 
Preferred Stocks:                    
Germany   9,196,403    –    9,196,403    – 
United States   29,995    –    –    29,995 
Warrants:                    
Canada   –*   –    –    –*
United States   53    53    –    – 
Short-Term Investments:                    
Time Deposits   44,240,168    –    44,240,168    – 
U.S. Government Agency   693,000    –    693,000    – 
Money Market Fund   29,074,552    29,074,552    –    – 
Total Investments, at value  $2,474,449,911   $314,278,610   $2,159,322,927   $848,374 
Other Financial Instruments - Asset                    
Futures Contracts  $9,975   $9,975   $–   $– 
Total Other Financial Instruments - Assets  $9,975   $9,975   $–   $– 
                     
Other Financial Instruments - Liabilities                    
Option Contracts Written  $(4,294)  $(4,294)  $–   $– 
OTC Total Return Swaps   (24,631)   –    (24,631)   – 
Total Other Financial Instruments - Liabilities  $(28,925)  $(4,294)  $(24,631)  $– 

 

 

* Includes securities that are fair valued at $0. 

 

 

 

Notes to Financial Statements

November 30, 2023 (unaudited) (continued)

 

2. Investment valuation (continued)

 

   Total Fair Value at
November 30, 2023		   Unadjusted Quoted
Prices
in Active Markets
for Identical
Investments
(Level 1)		   Significant
Observable
Inputs
(Level 2)		   Significant
Unobservable
Inputs
(Level 3)		 
Destinations Equity Income Fund                    
Investments, at value                    
Corporate Bond & Note  $1,281,800    –   $1,281,800   $– 
Common Stocks:                    
Basic Materials   27,667,960    20,191,203    7,476,757    – 
Communications   37,349,520    22,388,854    14,960,666    – 
Consumer Cyclical   31,658,970    25,849,329    5,809,641    – 
Consumer Non-cyclical   128,258,508    94,820,509    33,437,999    – 
Energy   60,130,795    33,970,141    26,160,654    – 
Financial   108,500,386    70,732,011    37,768,375    – 
Industrial   60,431,286    38,906,269    21,525,017    – 
Technology   33,723,989    26,733,960    6,990,029    – 
Utilities   67,405,662    54,132,583    13,273,079    – 
Exchange Traded Funds (ETFs)   24,470,007    24,470,007    –    – 
Short-Term Investments:                    
Equity Linked Note   1,697,369    –    1,697,369    – 
Time Deposits   6,229,562    –    6,229,562    – 
Money Market Fund   998,510    998,510    –    – 
Total Investments, at value  $589,804,324   $413,193,376   $176,610,948   $– 

 

 

 

 

Notes to Financial Statements

November 30, 2023 (unaudited) (continued)

 

2. Investment valuation (continued)

 

   Total Fair Value at
November 30, 2023		   Unadjusted Quoted
Prices
in Active Markets
for Identical
Investments
(Level 1)		   Significant
Observable
Inputs
(Level 2)		   Significant
Unobservable
Inputs
(Level 3)		 
Destinations Core Fixed Income Fund                    
Investments, at value                    
Mortgage-Backed Securities  $517,648,809   $–   $517,648,809   $– 
Corporate Bonds & Notes   461,054,111    –    461,054,111    – 
Collateralized Mortgage Obligations   455,765,665    –    455,765,665    – 
U.S. Government Obligations   378,419,396    –    378,419,396    – 
Asset-Backed Securities   199,307,975    –    199,307,975    – 
Senior Loans   15,702,889    –    15,702,889    – 
Sovereign Bonds   6,645,474    –    6,645,474    – 
Municipal Bonds   2,899,439    –    2,899,439    – 
Open-End Fund   37,915,545    37,915,545    –    – 
Exchange Traded Funds (ETFs)   8,094,985    8,094,985    –    – 
Common Stocks:                    
Communications   27,037    27,037    –    – 
Healthcare Services   5,168    5,168    –    – 
Industrial   10,450    –    –    10,450 
Rights   1,605    –    1,605    – 
Short-Term Investments:                    
Time Deposits   38,069,265    –    38,069,265    – 
U.S. Government Obligation   1,195,406    –    1,195,406    – 
Total Investments, at value  $2,122,763,219   $46,042,735   $2,076,710,034   $10,450 
Other Financial Instruments - Assets                    
Futures Contracts  $571,806   $571,806   $–   $– 
Centrally Cleared Interest Rate Swaps   908,530    –    908,530    – 
Centrally Cleared Credit Default Swaps   65,835    –    65,835    – 
Total Other Financial Instruments - Assets  $1,546,171   $571,806   $974,365   $– 
Other Financial Instruments - Liabilities                    
Futures Contracts  $(613,373)  $(613,373)  $–   $– 
Forward Sale Commitments   (24,643,121)   –    (24,643,121)   – 
Total Other Financial Instruments - Liabilities  $(25,256,494)  $(613,373)  $(24,643,121)  $– 

 

 

 

 

Notes to Financial Statements

November 30, 2023 (unaudited) (continued)

 

2. Investment valuation (continued)

 

   Total Fair Value at
November 30, 2023		   Unadjusted Quoted
Prices
in Active Markets
for Identical
Investments
(Level 1)		   Significant
Observable
Inputs
(Level 2)		   Significant
Unobservable
Inputs
(Level 3)		 
Destinations Low Duration Fixed Income Fund                    
Investments, at value                    
Corporate Bonds & Notes:                    
Basic Materials  $15,345,886   $–   $15,345,886   $– 
Communications   48,870,788    –    48,870,788    – 
Consumer Cyclical   15,392,273    –    15,392,273    – 
Consumer Discretionary   1,624,614    –    1,624,614    – 
Consumer Non-cyclical   36,911,161    –    29,688,711    7,222,450 
Diversified   2,631,500    –    2,631,500    – 
Energy   17,792,899    –    17,792,899    – 
Financial   25,066,303    –    25,066,303    – 
Healthcare   5,466,400    –    –    5,466,400 
Industrial   12,751,349    –    12,751,349    – 
Technology   15,183,334    –    15,183,334    – 
Utilities   2,179,919    –    2,179,919    – 
Asset-Backed Securities   42,082,792    –    42,082,792    – 
Collateralized Mortgage Obligations   36,474,160    –    36,474,160    – 
Senior Loans:   30,278,680    –    27,376,060    2,902,620 
U.S. Government Obligations   23,496,820    –    23,496,820    – 
Mortgage-Backed Securities   2,386,285    –    2,386,285    – 
Sovereign Bonds   681,593    –    681,593    – 
Exchange Traded Funds (ETFs)   46,087,488    46,087,488    –    – 
Preferred Stock   4,088,275    4,088,275    –    – 
Common Stocks:                    
Consumer Non-cyclical   71,127    71,127    –    – 
Diversified   191,710    191,710    –    – 
Financial   616,273    –    –    616,273 
Warrants:                    
Basic Materials   –*   –    –    –*
Diversified   17,907    17,907    –    –*
Healthcare   1,180    1,180    –    – 
Short-Term Investments:                    
Corporate Note   1,468,461    –    1,468,461    – 
Time Deposits   15,380,813    –    15,380,813    – 
U.S. Government Obligations   7,120,400    –    7,120,400    – 
Money Market Fund   105,060    105,060    –    – 
Total Investments, at value  $409,765,450   $50,562,747   $342,994,960   $16,207,743 
Other Financial Instruments - Liabilities                    
Forward Foreign Currency Contracts  $(624,421)  $–   $(624,421)  $– 
Total Other Financial Instruments - Liabilities  $(624,421)  $–   $(624,421)  $– 

 

 

* Includes securities that are fair valued at $0.

 

 

 

Notes to Financial Statements

November 30, 2023 (unaudited) (continued)

 

2. Investment valuation (continued)

 

   Total Fair Value at
November 30, 2023		   Unadjusted Quoted
Prices
in Active Markets
for Identical
Investments
(Level 1)		   Significant
Observable
Inputs
(Level 2)		   Significant
Unobservable
Inputs
(Level 3)		 
Destinations Global Fixed Income Opportunities Fund                    
Investments, at value                    
Corporate Bonds & Notes                    
Australia  $10,868,964   $–   $10,868,964   $– 
Bermuda   5,523,871    –    5,523,871    – 
Brazil   8,988,317    –    8,988,317    – 
British Virgin Islands   198,603    –    198,603    – 
Canada   22,574,894    –    22,574,894    – 
Cayman Islands   5,543,839    –    5,543,839    – 
Chile   20,858,534    –    20,858,534    – 
Colombia   21,653,853    –    21,653,853    – 
Denmark   1,188,479    –    1,188,479    – 
France   4,528,096    –    4,528,096    – 
Germany   12,762,571    –    12,762,571    – 
Guatemala   5,749,958    –    5,749,958    – 
India   18,050,800    –    18,050,800    – 
Indonesia   14,636,044    –    14,636,044    – 
Isle of Man   172,633    –    172,633    – 
Israel   7,358,230    –    7,358,230    – 
Italy   9,126,903    –    9,126,903    – 
Luxembourg   32,260,680    –    32,260,680    – 
Malaysia   7,049,887    –    7,049,887    – 
Mauritius   4,337,976    –    4,337,976    – 
Mexico   31,704,855    –    31,704,855    – 
Multinational   6,402,535    –    6,402,535    – 
Netherlands   33,490,733    –    33,490,733    – 
Norway   17,947,599    –    17,947,599    – 
Panama   2,660,138    –    2,660,138    – 
Paraguay   976,649    –    976,649    – 
Peru   28,408,929    –    28,408,929    – 
Portugal   –*   –    –    –*
Singapore   25,963,202    –    25,963,202    – 
South Korea   19,496,282    –    19,496,282    – 
Spain   8,004,067    –    8,004,067    – 
Sweden   8,363,359    –    8,363,359    – 
Switzerland   1,711,660    –    1,711,660    – 
United Kingdom   12,553,431    –    12,553,431    – 
United States   184,697,036    –    174,747,351    9,949,685 
Senior Loans   72,698,138    –    72,418,834    279,304 
Collateralized Mortgage Obligations   17,430,831    –    17,430,831    – 
Sovereign Bonds   8,174,057    –    8,174,057    – 
Exchange Traded Funds (ETFs)   49,715,476    49,715,476    –    – 
Preferred Stocks:                    
Bermuda   3,132,880    3,132,880    –    – 
United Kingdom   29,698    29,698    –    – 
United States   19,824,606    18,208,784    1,161,477    454,345 
Common Stocks:                    
United States   9,527,981    5,371,103    –    4,156,878 
Equity Linked Notes                    
United States   114,201    –    –    114,201 
Warrants:                    
Bermuda   –*   –    –    –*
Brazil   –*   –    –    –*
Canada   –*   –    –    –*
Israel   –*   –    –    –*
United Kingdom   2,178    2,178    –    – 
United States   6,655    6,655    –    – 
Short-Term Investments:                    
Commercial Papers   15,663,542    –    15,663,542    – 
Corporate Note   2,165,123    –    2,165,123    – 
Time Deposits   26,499,516    –    26,499,516    – 
Money Market Fund   709,894    709,894    –    – 
Total Investments, at value  $821,508,383   $77,176,668   $729,377,302   $14,954,413 
Other Financial Instruments - Asset                    
Forward Foreign Currency Contracts  $18,162   $–   $18,162   $– 
Total Other Financial Instruments - Assets  $18,162   $–   $18,162   $– 
                     
Other Financial Instruments - Liabilities                    
Options Contracts Written  $(279,893)  $(279,893)  $–   $– 
Forward Foreign Currency Contracts   (1,043,620)   –    (1,043,620)   – 
Securities Sold Short:                    
    Corporate Bond & Note   (6,310,346)   –    (6,310,346)   – 
    Exchange Traded Funds (ETFs)   (4,489,603)   (4,489,603)   –    – 
Total Other Financial Instruments - Liabilities  $(12,123,462)  $(4,769,496)  $(7,353,966)  $– 

 

 

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

 

 

 

Notes to Financial Statements

November 30, 2023 (unaudited) (continued)

 

2. Investment valuation (continued)

 

   Total Fair Value at
November 30, 2023		   Unadjusted Quoted
Prices
in Active Markets
for Identical
Investments
(Level 1)		   Significant
Observable
Inputs
(Level 2)		   Significant
Unobservable
Inputs
(Level 3)		 
Destinations Municipal Fixed Income Fund                    
Investments, at value                    
Municipal Bonds  $825,531,558   $–   $825,531,558   $– 
Exchange Traded Funds (ETFs)   16,406,731    16,406,731    –    – 
Short-Term Investments:                    
Municipal Bond   3,170,444    –    3,170,444    – 
Time Deposits   24,711,375    –    24,711,375    – 
Total Investments, at value  $869,820,108   $16,406,731   $853,413,377   $– 
                     
Other Financial Instruments - Liabilities                    
Futures Contracts  $(3,420)  $(3,420)  $–   $– 
Total Other Financial Instruments - Liabilities  $(3,420)  $(3,420)  $–   $– 

 

 

 

 

Notes to Financial Statements

November 30, 2023 (unaudited) (continued)

 

2. Investment valuation (continued)

 

   Total Fair Value at
November 30, 2023		   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                    
Asset-Backed Securities  $149,235,721   $–   $149,235,721   $– 
Collateralized Mortgage Obligations   136,879,382    –    136,879,382    – 
Corporate Bonds & Notes   122,688,830    –    122,688,830    – 
Senior Loan   11,123,143    –    11,123,143    – 
Common Stocks:                    
Consumer Cyclical   22,331,226    22,331,226    –    – 
Consumer Non-cyclical   47,707,091    47,707,091    –    – 
Diversified   3,005,286    3,005,286    –    – 
Financial   17,275,074    17,275,074    –    – 
Industrial   4,933,782    4,933,782    –    – 
Open-End Funds   160,737,435    160,737,435    –    – 
Equity Linked Note   3,107,101    3,107,101    –    – 
Preferred Stock   7,891,830    7,891,830    –    – 
Warrants   295,533    295,533    –    – 
Purchased Option   11,725    11,725    –    – 
Short-Term Investments:                    
Time Deposits   111,336,662    –    111,336,662    – 
Money Market Fund   556,731    556,731    –    – 
Total Investments, at value  $799,116,552   $267,852,814   $531,263,738   $– 
Other Financial Instruments - Assets                    
OTC Total Return Swaps  $249,345   $–   $249,345   $– 
OTC Credit Default Swaps   10,499,365    –    10,499,365    – 
Total Other Financial Instruments - Assets  $10,748,710   $–   $10,748,710   $– 
Other Financial Instruments - Liabilities                    
Option Contracts Written  $(175,875)  $(175,875)  $–   $– 
OTC Total Return Swaps   (213,956)   (61,467)   (152,489)   – 
Securities Sold Short:                    
Corporate Bond & Note   (8,483,779)   –    (8,483,779)   – 
Exchange Traded Funds (ETFs)   (31,937,703)   (31,937,703)   –    – 
Total Other Financial Instruments - Liabilities  $(40,811,313)  $(32,175,045)  $(8,636,268)  $– 

 

 

 

 

Notes to Financial Statements

November 30, 2023 (unaudited) (continued)

 

2. Investment valuation (continued)

 

   Total Fair Value at
November 30, 2023		   Unadjusted Quoted
Prices
in Active Markets
for Identical
Investments
(Level 1)		   Significant
Observable
Inputs
(Level 2)		   Significant
Unobservable
Inputs
(Level 3)		 
Destinations Shelter Fund                    
Investments, at value                    
Common Stocks  $98,261,515   $98,261,515   $–   $– 
Purchased Options   358,195    358,195    –    – 
Short-Term Investments:                    
Time Deposits   1,962,134    –    1,962,134    – 
Total Investments, at value  $100,581,844   $98,619,710   $1,962,134   $– 
                     
Other Financial Instruments - Liabilities                    
Options Contracts Written  $(1,386,968)  $(1,386,968)  $–   $– 
Total Other Financial Instruments - Liabilities  $(1,386,968)  $(1,386,968)  $–   $– 

 

 

 

 

Notes to Financial Statements

November 30, 2023 (unaudited) (continued)

 

2. Investment valuation (continued)

 

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

 

The following is a reconciliation of assets for which significant unobservable inputs (Level 3) were used in determining fair value during the period February 28, 2023 through November 30, 2023:

 

   Total   Common
Stocks		   Corporate
Bonds &
Notes		   Preferred
Stocks		   Senior Loans   Warrants   Short Terms   Equity Linked
Notes		 
Destinations Large Cap Equity Fund                                        
Balance as of August 31, 2023  $11,879,235   $4,787,999   $-   $7,091,236   $-   $-   $-   $- 
Purchases   15,300,769    4,631,637    -    10,669,132    -    -    -    - 
(Sales/Paydowns)   (1,301,995)   (325,635)   -    (976,360)   -    -    -    - 
Total realized gain (loss)   -    -    -    -    -    -    -    - 
Change in unrealized appreciation (depreciation)   (14,322,951)   (5,110,724)   -    (9,212,227)   -    -    -    - 
Transfers In   -    -    -    -    -    -    -    - 
Transfers Out   -    -    -    -    -    -    -    - 
Balance as of November 30, 2023  $11,555,058   $3,983,277   $-   $7,571,781   $-   $-   $-   $- 
Change in unrealized appreciation (depreciation) from Investments held as of November 30, 2023  $533,274   $(551,011)  $-   $1,084,285   $-   $-   $-   $- 
                                         
Destinations International Equity Fund                                        
Balance as of August 31, 2023  $520,701   $520,701   $-   $-   $-   $-   $-   $- 
Purchases   -    -    -    -    -    -    -    - 
(Sales/Paydowns)   (527,597)   (527,597)   -    -    -    -    -    - 
Total realized gain (loss)   (2,619,423)   (2,619,423)   -    -    -    -    -    - 
Change in unrealized appreciation (depreciation)   3,060,593    3,060,593    -    -    -    -    -    - 
Transfers In   843,721    813,726    -    29,995    -    -    -    - 
Transfers Out   (429,621)   (429,621)   -    -    -    -    -    - 
Balance as of November 30, 2023  $848,374   $818,379   $-   $29,995   $-   $-*  $-   $- 
Change in unrealized appreciation (depreciation) from Investments held as of November 30, 2023  $(54,148)  $(54,148)  $-   $-   $-   $-   $-   $- 
                                         
Destinations Core Fixed Income Fund                                        
Balance as of August 31, 2023  $11,976   $11,976   $-   $-   $-   $-   $-   $- 
Purchases   -    -    -    -    -    -    -    - 
(Sales/Paydowns)   -    -    -    -    -    -    -    - 
Total realized gain (loss)   -    -    -    -    -    -    -    - 
Change in unrealized appreciation (depreciation)   (1,526)   (1,526)   -    -    -    -    -    - 
Transfers In   -    -    -    -    -    -    -    - 
Transfers Out   -    -    -    -    -    -    -    - 
Balance as of November 30, 2023  $10,450   $10,450   $-   $-   $-   $-   $-   $- 
Change in unrealized appreciation (depreciation) from Investments held as of November 30, 2023  $(1,526)  $(1,526)  $-   $-   $-   $-   $-   $- 
                                         
Destinations Low Duration Fixed Income Fund                                        
Balance as of August 31, 2023  $17,080,854   $412,171   $12,688,850   $-   $2,983,027   $-*  $996,806   $- 
Purchases   472,818    -    -    -    -    -    472,818    - 
(Sales/Paydowns)   (1,010,791)   -    -    -    (7,330)   -    (1,003,461)   - 
Total realized gain (loss)   3,755    -    -    -    3,755    -    -    - 
Change in unrealized appreciation (depreciation)   1,129,568    204,102    -    -    (76,832)   -    1,002,298    - 
Transfers In   -    -    -    -    -    -    -    - 
Transfers Out   (1,468,461)   -    -    -    -    -    (1,468,461)   - 
Balance as of November 30, 2023  $16,207,743   $616,273   $12,688,850   $-   $2,902,620   $-*  $-   $- 
Change in unrealized appreciation (depreciation) from Investments held as of November 30, 2023  $120,291   $204,104   $(1,217)  $-   $(76,832)  $-   $(5,764)  $- 
                                         
Destinations Global Fixed Income Opportunities Fund                                        
Balance as of August 31, 2023  $18,825,136   $4,064,650   $12,424,636*  $-   $638,401   $-*  $1,551,869   $145,580 
Purchases   189,547    -    (855,000)   429,786    -    -   $614,761    - 
(Sales/Paydowns)   (3,307,856)   -    (1,745,625)   -    -    -   $(1,562,231)   - 
Total realized gain (loss)   1,878    (67)   1,945    -    -    -   $-    - 
Change in unrealized appreciation (depreciation)   1,410,831    92,295    123,729    24,559    (359,097)   -   $1,560,724    (31,379)
Transfers In   -    -    -    -    -    -   $-    - 
Transfers Out   (2,165,123)   -    -    -    -    -   $(2,165,123)   - 
Balance as of November 30, 2023  $14,954,413   $4,156,878   $9,949,685*  $454,345   $279,304   $-*  $-   $114,201 
Change in unrealized appreciation (depreciation) from Investments held as of November 30, 2023  $(157,902)  $92,227   $123,729   $24,559   $(359,098)  $-   $(7,940)  $(31,379)

 

 

* Includes securities that are fair valued at $0.

 

 

 

 

Notes to Financial Statements

November 30, 2023 (unaudited) (continued)

 

3. Investments

 

At November 30, 2023, 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  $3,035,425,080   $1,012,654,152   $(32,471,208)  $980,182,944 
Destinations Small-Mid Cap Equity Fund   691,359,044    133,685,912    (29,330,214)   104,355,698 
Destinations International Equity Fund   2,169,211,648    454,302,157    (149,082,844)   305,219,313 
Destinations Equity Income Fund   553,991,721    63,927,349    (28,114,746)   35,812,603 
Destinations Core Fixed Income Fund   2,333,731,784    12,972,055    (247,650,943)   (234,678,888)
Destinations Low Duration Fixed Income Fund   428,685,177    3,254,018    (22,798,166)   (19,544,148)
Destinations Global Fixed Income Opportunities Fund   846,051,635    8,684,355    (45,332,907)   (36,648,552)
Destinations Municipal Fixed Income Fund   891,304,941    3,624,027    (25,112,280)   (21,488,253)
Destinations Multi Strategy Alternatives Fund   728,476,257    59,755,217    (19,177,525)   40,577,692 
Destinations Shelter Fund   94,758,578    12,026,925    (7,590,627)   4,436,298