# EDGAR Filing Document

**Accession Number:** 0001843841
**File Stem:** 0001580642-23-001403
**Filing Date:** 2023-3
**Character Count:** 74652
**Document Hash:** 0c78ed471fe79c369dafa80066f6123e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001580642-23-001403.hdr.sgml**: 20230310

**ACCESSION NUMBER**: 0001580642-23-001403

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230310

**DATE AS OF CHANGE**: 20230310

**EFFECTIVENESS DATE**: 20230310

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DGI Investment Trust
- **CENTRAL INDEX KEY:** 0001843841
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** PR
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23637
- **FILM NUMBER:** 23723074

**BUSINESS ADDRESS:**
- **STREET 1:** ORIENTAL CENTER
- **STREET 2:** 254 MUNOZ RIVERA AVENUE, 10TH FLOOR
- **CITY:** SAN JUAN
- **STATE:** PR
- **ZIP:** 00918
- **BUSINESS PHONE:** (787) 771-6800

**MAIL ADDRESS:**
- **STREET 1:** ORIENTAL CENTER
- **STREET 2:** 254 MUNOZ RIVERA AVENUE, 10TH FLOOR
- **CITY:** SAN JUAN
- **STATE:** PR
- **ZIP:** 00918

## Series and Classes Contracts Data

### DGI Balanced Fund (Series ID: S000071589)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000226943 | Class P      | DGIBX           |
| C000229059 | Class T      | DGITX           |
| C000229060 | Class NT     | DGINX           |

**united states<br> securities and exchange commission<br> washington, d.c. 20549<br>form n-csr<br>certified shareholder report of registered management<br> investment companies**

Investment Company Act file number <u>333-252816 and 811-23637</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>DGI Investment Trust</u> 

(Exact name of registrant as specified in charter)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>c/o Oriental Trust, 254 Munoz Rivera Ave., 10<sup>th</sup> Floor, San Juan Puerto Rico 00918__</u>

(Address of principal executive offices) (Zip code)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Maggie Bull, Ultimus Fund Solutions LLC</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>2 Easton Oval, Suite 300, Columbus OH 43219</u> 

(Name and address of agent for service)

Registrant's telephone number, including area code: <u>513-869-4262</u> 

Date of fiscal year end: <u>6/30</u> 

Date of reporting period: <u>12/31/22</u> 

**Item 1. Reports to Stockholders.** 

(a) Include a copy of the report transmitted to stockholders pursuant to Rule 30e-1 under the Act (17 CFR 270.30e-1).

**DGI Balanced Fund**

Semi-Annual Report

December 31, 2022

This report and the financial statements contained herein are submitted for the general information of shareholders and are not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus, which contains information about the Fund's investment objective, risks, fees and expenses. Investors are reminded to read the prospectus carefully before investing in the Fund.

---

| |
|:---|
| **DGI Balanced Fund** |
| **PORTFOLIO REVIEW (Unaudited)** |
| **December 31, 2022** |

---

The Fund's performance figures\* for the periods ended December 31, 2022, compared to its benchmarks:

---

| | | | |
|:---|:---|:---|:---|
| Six Months | &nbsp;&nbsp;Six Months | &nbsp;&nbsp;One Year | &nbsp;&nbsp;Since Inception (a) |
| DGI Balanced Fund - Class P Shares | &nbsp;&nbsp;(2.70)% | &nbsp;&nbsp;(14.02)% | &nbsp;&nbsp;(7.96)% |
| DGI Balanced Fund - Class T Shares | &nbsp;&nbsp;(2.70)% | &nbsp;&nbsp;(14.02)% | &nbsp;&nbsp;(7.96)% |
| DGI Balanced Fund - Class NT Shares | &nbsp;&nbsp;(2.70)% | &nbsp;&nbsp;(14.02)% | &nbsp;&nbsp;(7.96)% |
| Blended Benchmark Index (67% Bloomberg U.S. Aggregate Bond Index /33% S&P 500 Total Return Index) | &nbsp;&nbsp;(1.05)% | &nbsp;&nbsp;(14.43)% | &nbsp;&nbsp;(5.99)% |
| Bloomberg U.S. Aggregate Bond Index \*\* | &nbsp;&nbsp;(2.97)% | &nbsp;&nbsp;(13.01)% | &nbsp;&nbsp;(7.67)% |
| S&P 500 Total Return Index \*\*\* | &nbsp;&nbsp;2.31% | &nbsp;&nbsp;(18.11)% | &nbsp;&nbsp;(3.33)% |

---

(a) Inception
date is May 24, 2021.

\* The performance data quoted is historical. Past performance is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The principal value and investment return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost. Total Returns for periods of less than one year are not annualized. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemptions of Fund shares. The estimated total annual operating expense ratio for each share class is 1.48% per the Fund's Prospectus dated October 28, 2022. For performance information current to the most recent month-end, please call 1-877-910-4232.

\*\* The Bloomberg U.S. Aggregate Bond Index is a broad-based flagship benchmark that measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market. The index includes Treasuries, government-related and corporate securities, Mortgage-Backed Securities (agency fixed-rate pass-throughs), Asset-Backed Securities and Commercial Mortgage-Backed Securities (agency and non-agency). Investors cannot invest directly into an index. Index returns are gross of any fees, brokerage commissions or other expenses of investing.

\*\*\* The S&P 500 Total Return Index is a widely accepted, unmanaged index of U.S. stock market performance which does not take into account charges, fees and other expenses. Investors cannot invest directly in an index. Index returns are gross of any fees, brokerage commissions or other expenses of investing.

---

| | |
|:---|:---|
| **Holdings by Type of Investment** | **% of Net Assets** |
| U.S. Government Agencies | 45.1% |
| Exchange Traded Funds | 34.9% |
| Common Stock | 12.2% |
| Collateralized Mortgage Obligations | 0.1% |
| Short-Term Investment | 7.2% |
| Other Assets Less Liabilities | 0.5% |
|  | 100.0% |

---

Please refer to the Portfolio of Investments that follows in this semi-annual report for a detail of the Fund's holdings.

---

| |
|:---|
| **DGI BALANCED FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **December 31, 2022** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 12.2%** |  |
|  | **BANKING - 12.2%** |  |
| 685000 | First BanCorporation | $8713200 |
| 420000 | Popular, Inc. | 27854400 |
|  | **TOTAL COMMON STOCKS (Cost $22,633,542)** | 36567600 |
|  | **EXCHANGE-TRADED FUNDS — 34.9%** |  |
|  | **EQUITY - 34.9%** |  |
| 139300 | iShares MSCI EAFE ETF | 9143652 |
| 160000 | iShares MSCI Emerging Markets ETF | 6064000 |
| 156000 | iShares Russell 2000 ETF | 27200160 |
| 113400 | SPDR S&P 500 ETF Trust | 43367562 |
| 30500 | SPDR S&P CHINA ETF | 2389980 |
| 201000 | Vanguard FTSE Emerging Markets ETF | 7834980 |
| 156000 | Vanguard MSCI Europe ETF | 8648640 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $105,731,333)** | 104648974 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal**<br>**Amount ($)** |  | <br>**Spread** | **Coupon Rate**<br>**(%)** | <br>**Maturity** | |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS — 0.1%** |  |  |  |  |
| 154713 | CFSC Mortgage Trust Series 1 1ZZ <sup>(a)</sup> |  | 3.7700 | 03/25/23 | 154713 |
| 4900 | CFSC Mortgage Trust Series 1 1R <sup>(a)</sup> |  | 8.0000 | 03/25/23 |  |
| 913514 | Federal National Mortgage Association Series 2011-M1 X <sup>(b),(c)</sup> | US0001M + 6.000% | 1.6113 | 07/25/38 | 80386 |
| 984 | Lehman Brothers Grantor Trust Series 1993-3 E <sup>(a)</sup> |  | 15.0000 | 10/24/23 |  |
|  | **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $217,772)** |  |  |  | 235099 |

---

See accompanying notes to financial statements.

---

| |
|:---|
| **DGI BALANCED FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2022** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br>**Amount ($)** |  | **Coupon Rate**<br>**(%)** | <br>**Maturity** |<br>**Fair Value** |
|  | **U.S. GOVERNMENT & AGENCIES — 45.1%** |  |  |  |
|  | **FEDERAL HOME LOAN MORTGAGE CORP. — 1.9%<sup>(d)</sup>** |  |  |  |
| 357735 | Federal Home Loan Mortgage Corporation Series D97349 | 6.0000 | 09/01/25 | $364056 |
| 19678 | Federal Home Loan Mortgage Corporation Series D75702 | 7.5000 | 01/01/26 | 19863 |
| 26947 | Federal Home Loan Mortgage Corporation Series D79168 | 8.0000 | 02/01/27 | 27011 |
| 675448 | Federal Home Loan Mortgage Corporation Series J20654 | 3.0000 | 08/01/27 | 652238 |
| 55125 | Federal Home Loan Mortgage Corporation Series C10178 | 6.5000 | 05/01/28 | 56632 |
| 151949 | Federal Home Loan Mortgage Corporation Series P51380 | 5.5000 | 03/01/36 | 151661 |
| 185184 | Federal Home Loan Mortgage Corporation Series C02554 | 6.0000 | 06/01/36 | 190372 |
| 4618125 | Federal Home Loan Mortgage Corporation Series SB0645 | 2.0000 | 12/01/36 | 4129702 |
|  |  |  |  | 5591535 |
|  | **FEDERAL NATIONAL MORTGAGE ASSOCIATION** — **11.8%<sup>(d)</sup>** |  |  |  |
| 16520 | Federal National Mortgage Association Series 426650 | 6.5000 | 03/01/24 | 16956 |
| 44986 | Federal National Mortgage Association Series 426648 | 7.0000 | 04/01/24 | 44971 |
| 11316 | Federal National Mortgage Association Series 426646 | 8.0000 | 10/01/24 | 11319 |
| 9245 | Federal National Mortgage Association Series 426645 | 8.5000 | 10/01/24 | 9245 |
| 79442 | Federal National Mortgage Association Series 426651 | 6.5000 | 03/01/26 | 81535 |
| 12919 | Federal National Mortgage Association Series 511569 | 8.5000 | 07/01/26 | 12899 |
| 167774 | Federal National Mortgage Association Series AE1268 | 3.5000 | 10/01/26 | 164972 |
| 20278 | Federal National Mortgage Association Series 367023 | 7.5000 | 11/01/26 | 20234 |
| 222803 | Federal National Mortgage Association Series AE1285 | 3.5000 | 12/01/26 | 219069 |
| 29253 | Federal National Mortgage Association Series 367025 | 8.0000 | 12/01/26 | 29290 |
| 690310 | Federal National Mortgage Association Series AJ1905 | 3.0000 | 02/01/27 | 667239 |
| 108324 | Federal National Mortgage Association Series 426649 | 7.0000 | 02/01/27 | 108908 |
| 263973 | Federal National Mortgage Association Series AI9096 | 3.5000 | 03/01/27 | 259544 |
| 9667 | Federal National Mortgage Association Series 374925 | 7.5000 | 03/01/27 | 9646 |
| 484350 | Federal National Mortgage Association Series AL3274 | 3.0000 | 05/01/27 | 466796 |
| 365647 | Federal National Mortgage Association Series AJ1913 | 3.0000 | 06/01/27 | 352200 |
| 23696 | Federal National Mortgage Association Series 426647 | 7.5000 | 06/01/27 | 23684 |
| 1424254 | Federal National Mortgage Association Series AP1217 | 2.5000 | 07/01/27 | 1359601 |
| 504003 | Federal National Mortgage Association Series AI9133 | 3.5000 | 11/01/27 | 495527 |
| 1017299 | Federal National Mortgage Association Series AR5151 | 2.5000 | 04/01/28 | 967737 |
| 113547 | Federal National Mortgage Association Series AU2244 | 3.0000 | 09/01/28 | 108896 |
| 1172970 | Federal National Mortgage Association Series AR5202 | 3.0000 | 11/01/28 | 1124105 |
| 646722 | Federal National Mortgage Association Series AR5223 | 3.0000 | 02/01/29 | 623135 |
| 560497 | Federal National Mortgage Association Series AS2465 | 3.0000 | 04/01/29 | 540038 |

---

See accompanying notes to financial statements.

---

| |
|:---|
| **DGI BALANCED FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2022** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br>**Amount ($)** |  | **Coupon Rate**<br>**(%)** | <br>**Maturity** |<br>**Fair Value** |
|  | **U.S. GOVERNMENT & AGENCIES — 45.1% (Continued)** |  |  |  |
|  | **FEDERAL NATIONAL MORTGAGE ASSOCIATION** — **11.8%<sup>(d)</sup> (Continued)** |  |  |  |
| 739202 | Federal National Mortgage Association Series AS2542 | 3.0000 | 04/01/29 | $712220 |
| 65586 | Federal National Mortgage Association Series 488061 | 7.0000 | 04/01/29 | 66451 |
| 687971 | Federal National Mortgage Association Series AV6988 | 3.0000 | 05/01/29 | 662951 |
| 1396900 | Federal National Mortgage Association Series AV6999 | 3.0000 | 06/01/29 | 1345910 |
| 1716944 | Federal National Mortgage Association Series AV1451 | 3.0000 | 06/01/29 | 1654284 |
| 1436088 | Federal National Mortgage Association Series AV6993 | 3.0000 | 06/01/29 | 1383697 |
| 897064 | Federal National Mortgage Association Series AV1452 | 3.0000 | 07/01/29 | 864311 |
| 93225 | Federal National Mortgage Association Series 504137 | 7.5000 | 07/01/29 | 94105 |
| 70659 | Federal National Mortgage Association Series 504148 | 7.5000 | 08/01/29 | 71041 |
| 691271 | Federal National Mortgage Association Series AV7011 | 3.0000 | 09/01/29 | 666059 |
| 37961 | Federal National Mortgage Association Series 523120 | 7.0000 | 01/01/30 | 37924 |
| 770717 | Federal National Mortgage Association Series AV7045 | 3.0000 | 02/01/30 | 738861 |
| 18161 | Federal National Mortgage Association Series 523123 | 7.5000 | 02/01/30 | 18121 |
| 168613 | Federal National Mortgage Association Series 567014 | 6.5000 | 03/01/31 | 173058 |
| 747702 | Federal National Mortgage Association Series AX5513 | 3.0000 | 04/01/31 | 716669 |
| 168030 | Federal National Mortgage Association Series 573448 | 6.5000 | 04/01/31 | 172462 |
| 798772 | Federal National Mortgage Association Series AX5544 | 3.0000 | 08/01/31 | 765603 |
| 1127070 | Federal National Mortgage Association Series AX5551 | 2.5000 | 10/01/31 | 1056242 |
| 465779 | Federal National Mortgage Association Series AX5567 | 3.0000 | 12/01/31 | 446434 |
| 777066 | Federal National Mortgage Association Series BD9019 | 3.0000 | 01/01/32 | 740970 |
| 747299 | Federal National Mortgage Association Series 695394 | 5.0000 | 06/01/33 | 764511 |
| 216636 | Federal National Mortgage Association Series 850040 | 6.5000 | 06/01/36 | 222954 |
| 1667965 | Federal National Mortgage Association Series CB2736 | 2.5000 | 01/01/37 | 1531653 |
| 93935 | Federal National Mortgage Association Series 931180 | 5.5000 | 04/01/39 | 94387 |
| 479288 | Federal National Mortgage Association Series 953131 | 4.5000 | 09/01/39 | 475377 |
| 2488623 | Federal National Mortgage Association Series AI9098 | 4.0000 | 03/01/42 | 2392105 |
| 1512967 | Federal National Mortgage Association Series AS3545 | 4.0000 | 09/01/44 | 1452392 |
| 1623776 | Federal National Mortgage Association Series AV7027 | 4.0000 | 11/01/44 | 1558760 |
| 571513 | Federal National Mortgage Association Series AX5471 | 3.0000 | 07/01/45 | 513587 |
| 843504 | Federal National Mortgage Association Series AV7076 | 3.0000 | 07/01/45 | 759194 |
| 4809685 | Federal National Mortgage Association Series AS8523 | 3.0000 | 11/01/46 | 4304375 |
| 1487716 | Federal National Mortgage Association Series AX5564 | 3.0000 | 12/01/46 | 1332338 |
|  |  |  |  | 35506552 |

---

See accompanying notes to financial statements.

---

| |
|:---|
| **DGI BALANCED FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2022** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br>**Amount ($)** |  | **Coupon Rate**<br>**(%)** | <br>**Maturity** |<br>**Fair Value** |
|  | **U.S. GOVERNMENT & AGENCIES — 45.1% (Continued)** |  |  |  |
|  | **FEDERAL MORTGAGE OBLIGATION – 0.0%** |  |  |  |
| 2338 | R&G Federal Mortgage Trust Series 1993-1 <sup>(a)</sup> |  | 08/25/23 | $— |
|  | **GOVERNMENT NATIONAL MORTGAGE ASSOCIATION — 31.4%** |  |  |  |
| 5588 | Government National Mortgage Association Series 406062 | 7.5000 | 01/15/25 | 5585 |
| 5475 | Government National Mortgage Association Series 406065 | 7.5000 | 01/15/25 | 5472 |
| 10047 | Government National Mortgage Association Series 439194 | 7.5000 | 08/15/25 | 10043 |
| 44640 | Government National Mortgage Association Series 425509 | 8.0000 | 09/15/25 | 45106 |
| 108998 | Government National Mortgage Association Series 705899 | 3.5000 | 01/15/26 | 104292 |
| 14063 | Government National Mortgage Association Series 385183 | 7.5000 | 01/15/26 | 14056 |
| 24221 | Government National Mortgage Association Series 5127 | 4.0000 | 07/20/26 | 23280 |
| 278908 | Government National Mortgage Association Series 711631 | 3.5000 | 02/15/27 | 267430 |
| 62732 | Government National Mortgage Association Series 5310 | 3.5000 | 02/20/27 | 59030 |
| 405787 | Government National Mortgage Association Series 705941 | 3.0000 | 04/15/27 | 391994 |
| 212006 | Government National Mortgage Association Series 711651 | 3.5000 | 05/15/27 | 203277 |
| 853915 | Government National Mortgage Association Series 740018 | 3.5000 | 07/15/27 | 833051 |
| 376500 | Government National Mortgage Association Series 705951 | 2.5000 | 08/15/27 | 359340 |
| 814017 | Government National Mortgage Association Series 744440 | 3.5000 | 10/15/27 | 793448 |
| 282020 | Government National Mortgage Association Series 705956 | 2.5000 | 11/15/27 | 268697 |
| 30585 | Government National Mortgage Association Series 711707 | 2.5000 | 01/15/28 | 29192 |
| 283245 | Government National Mortgage Association Series 767026 | 2.5000 | 02/15/28 | 269417 |
| 317850 | Government National Mortgage Association Series 721979 | 2.5000 | 03/15/28 | 302142 |
| 382805 | Government National Mortgage Association Series 722012 | 3.0000 | 09/15/28 | 367260 |
| 333061 | Government National Mortgage Association Series 722016 | 2.5000 | 12/15/28 | 316474 |
| 389173 | Government National Mortgage Association Series 722033 | 3.0000 | 06/15/29 | 372993 |
| 45560 | Government National Mortgage Association Series 626932 | 3.0000 | 04/15/30 | 42738 |
| 98450 | Government National Mortgage Association Series 548539 | 6.0000 | 10/15/31 | 101115 |
| 365381 | Government National Mortgage Association Series 635142 | 3.0000 | 11/20/31 | 343527 |
| 109956 | Government National Mortgage Association Series 636427 | 6.0000 | 11/15/34 | 113019 |
| 102914 | Government National Mortgage Association Series 636567 | 6.0000 | 07/15/35 | 105810 |
| 65087 | Government National Mortgage Association Series 643754 | 6.0000 | 10/15/35 | 66851 |
| 171958 | Government National Mortgage Association Series 592885 | 6.0000 | 05/15/36 | 176798 |
| 1829123 | Government National Mortgage Association Series 655703 | 6.0000 | 08/15/37 | 1941720 |
| 1385873 | Government National Mortgage Association Series 722002 | 3.5000 | 03/15/38 | 1300182 |

---

See accompanying notes to financial statements.

---

| |
|:---|
| **DGI BALANCED FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2022** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br>**Amount ($)** |  | **Coupon Rate**<br>**(%)** | <br>**Maturity** |<br>**Fair Value** |
|  | **U.S. GOVERNMENT & AGENCIES — 45.1% (Continued)** |  |  |  |
|  | **GOVERNMENT NATIONAL MORTGAGE ASSOCIATION — 31.4% (Continued)** |  |  |  |
| 627995 | Government National Mortgage Association Series 767055 | 3.0000 | 05/15/38 | $568694 |
| 665374 | Government National Mortgage Association Series 767066 | 3.0000 | 06/15/38 | 602551 |
| 2162376 | Government National Mortgage Association Series 721997 | 3.5000 | 01/15/39 | 2034457 |
| 959603 | Government National Mortgage Association Series 678638 | 4.5000 | 08/15/39 | 949210 |
| 561788 | Government National Mortgage Association Series 678639 | 5.0000 | 08/15/39 | 573457 |
| 1743060 | Government National Mortgage Association Series 678641 | 4.5000 | 09/15/39 | 1735268 |
| 127761 | Government National Mortgage Association Series 719894 | 4.5000 | 09/15/39 | 126598 |
| 1011012 | Government National Mortgage Association Series 678642 | 5.0000 | 09/15/39 | 1036754 |
| 585330 | Government National Mortgage Association Series 678645 | 4.5000 | 10/15/39 | 582714 |
| 446130 | Government National Mortgage Association Series 678646 | 5.0000 | 10/15/39 | 453829 |
| 512553 | Government National Mortgage Association Series 678643 | 5.5000 | 11/15/39 | 531130 |
| 367841 | Government National Mortgage Association Series 678660 | 5.0000 | 03/15/40 | 374190 |
| 427425 | Government National Mortgage Association Series 722009 | 3.5000 | 07/15/40 | 401810 |
| 1780007 | Government National Mortgage Association Series 705892 | 4.0000 | 11/15/40 | 1726906 |
| 370909 | Government National Mortgage Association Series 705894 | 4.5000 | 11/15/40 | 367570 |
| 526220 | Government National Mortgage Association Series 705937 | 4.0000 | 01/15/42 | 512079 |
| 2052565 | Government National Mortgage Association Series 705936 | 3.5000 | 02/15/42 | 1934972 |
| 49181 | Government National Mortgage Association Series 5302 | 3.5000 | 02/20/42 | 44960 |
| 2095625 | Government National Mortgage Association Series 711653 | 3.5000 | 05/20/42 | 1930659 |
| 1802372 | Government National Mortgage Association Series 721969 | 3.0000 | 11/15/42 | 1654256 |
| 1914099 | Government National Mortgage Association Series 711731 | 3.0000 | 03/15/43 | 1756999 |
| 1736608 | Government National Mortgage Association Series 722001 | 3.5000 | 06/15/43 | 1637103 |
| 948165 | Government National Mortgage Association Series 722008 | 3.0000 | 08/15/43 | 864971 |
| 1170312 | Government National Mortgage Association Series 722010 | 3.5000 | 08/15/43 | 1103258 |
| 676286 | Government National Mortgage Association Series 722011 | 4.0000 | 08/15/43 | 658104 |
| 2411777 | Government National Mortgage Association Series 722013 | 3.5000 | 09/15/43 | 2273573 |
| 645040 | Government National Mortgage Association Series 722020 | 3.0000 | 12/15/43 | 578867 |
| 1904188 | Government National Mortgage Association Series 722021 | 3.5000 | 12/15/43 | 1795577 |
| 3888648 | Government National Mortgage Association Series 609103 | 3.5000 | 01/15/44 | 3665916 |
| 2182050 | Government National Mortgage Association Series 609163 | 3.5000 | 07/15/44 | 2057581 |
| 2862916 | Government National Mortgage Association Series 609200 | 3.5000 | 10/15/44 | 2699006 |
| 2015407 | Government National Mortgage Association Series 609214 | 3.0000 | 11/20/44 | 1803408 |
| 2811082 | Government National Mortgage Association Series 626921 | 3.0000 | 03/15/45 | 2517473 |
| 8461174 | Government National Mortgage Association Series 626934 | 3.0000 | 04/20/45 | 7450670 |

---

See accompanying notes to financial statements.

---

| |
|:---|
| **DGI BALANCED FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2022** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br>**Amount ($)** |  | **Coupon Rate**<br>**(%)** | <br>**Maturity** |<br>**Fair Value** |
|  | **U.S. GOVERNMENT & AGENCIES — 45.1% (Continued)** |  |  |  |
|  | **GOVERNMENT NATIONAL MORTGAGE ASSOCIATION — 31.4% (Continued)** |  |  |  |
| 5437384 | Government National Mortgage Association Series 626941 | 3.0000 | 05/15/45 | $4869516 |
| 2943787 | Government National Mortgage Association Series 635068 | 3.0000 | 04/15/46 | 2636240 |
| 2379391 | Government National Mortgage Association Series AE3319 | 3.0000 | 07/15/46 | 2130846 |
| 1430955 | Government National Mortgage Association Series AW2756 | 3.0000 | 09/15/46 | 1281891 |
| 1731731 | Government National Mortgage Association Series 635133 | 3.0000 | 10/20/46 | 1524898 |
| 2517148 | Government National Mortgage Association Series AW3558 | 3.0000 | 11/15/46 | 2254155 |
| 1089494 | Government National Mortgage Association Series 635153 | 3.0000 | 12/20/46 | 974510 |
| 2041205 | Government National Mortgage Association Series 690615 | 3.0000 | 06/15/47 | 1820352 |
| 2297925 | Government National Mortgage Association Series 690625 | 3.0000 | 07/20/47 | 2023389 |
| 571278 | Government National Mortgage Association Series BC3027 | 3.0000 | 03/15/48 | 511590 |
| 2162098 | Government National Mortgage Association Series AD6371 | 3.0000 | 03/15/48 | 1926118 |
| 3253416 | Government National Mortgage Association Series BE1665 | 4.0000 | 05/20/48 | 3105902 |
| 2784858 | Government National Mortgage Association | 4.0000 | 09/15/48 | 2665498 |
| 1004470 | Government National Mortgage Association Series BJ1540 | 3.5000 | 09/20/48 | 931450 |
| 806082 | Government National Mortgage Association Series BJ1536 | 3.5000 | 09/20/48 | 747495 |
| 2891742 | Government National Mortgage Association Series BJ9877 | 4.0000 | 11/15/48 | 2764213 |
| 1967116 | Government National Mortgage Association Series BJ9885 | 4.0000 | 12/15/48 | 1880366 |
| 1170395 | Government National Mortgage Association Series BJ9893 | 3.5000 | 12/20/48 | 1085321 |
| 1047093 | Government National Mortgage Association Series BJ9892 | 3.5000 | 01/15/49 | 971195 |
|  |  |  |  | 94342854 |
|  | **TOTAL U.S. GOVERNMENT & AGENCIES (Cost $146,869,564)** |  |  | 135440941 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | |
|  | **SHORT-TERM INVESTMENT — 7.2%** |  |
|  | **MONEY MARKET FUND - 7.2%** |  |
| 21654147 | Dreyfus Treasury Obligations Cash Management Fund, Institutional Class, 4.17% (Cost $21,654,147)<sup>(e)</sup> | 21654147 |
|  | **TOTAL INVESTMENTS - 99.5% (Cost $297,106,359)** | $298546761 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 0.5%** | 1551325 |
|  | **NET ASSETS - 100.0%** | $300098086 |

---

 

---

| | |
|:---|:---|
| EAFE | - Europe, Australasia and Far East |
| ETF | - Exchange-Traded Fund |
| MSCI | - Morgan Stanley Capital International |
| SPDR | - Standard & Poor's Depositary Receipt |
| US0001M | ICE LIBOR USD 1 Month |

---

 

<sup>(a)</sup> The value of this security has been determined in good faith under policies of the Board of Trustees. The total value of these securities is $154,713 or 0.1% of net assets.

<sup>(b)</sup> Interest only securities.

<sup>(c)</sup> Variable rate security; the rate shown represents the rate on December 31, 2022.

<sup>(d)</sup> Issuer operates under a Congressional charter; its securities are neither issued nor guaranteed by the U.S. government. The Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation currently operate under a federal conservatorship.

<sup>(e)</sup> Rate disclosed is the seven day effective yield as of December 31, 2022.

See accompanying notes to financial statements.

---

| |
|:---|
| ***DGI Balanced Fund*** |
| **STATEMENT OF ASSETS AND LIABILITIES (Unaudited)** |
| **December 31, 2022** |

---

---

| | |
|:---|:---|
| **ASSETS** |  |
| &nbsp;&nbsp;&nbsp;Investment securities: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At cost | $297106359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At value | $298546761 |
| &nbsp;&nbsp;&nbsp;Subscription receivable | 60406 |
| &nbsp;&nbsp;&nbsp;Interest and dividends receivable | 2267477 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses & other assets | 307290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL ASSETS** | 301181934 |
| **LIABILITIES** |  |
| &nbsp;&nbsp;&nbsp;Due to custodian | 66257 |
| &nbsp;&nbsp;&nbsp;Redemptions Payable | 72485 |
| &nbsp;&nbsp;&nbsp;Advisory fees payable | 241552 |
| &nbsp;&nbsp;&nbsp;Accrued tax liability | 445825 |
| &nbsp;&nbsp;&nbsp;Transfer agency fees payable | 66116 |
| &nbsp;&nbsp;&nbsp;Administration fees payable | 48016 |
| &nbsp;&nbsp;&nbsp;Legal fees payable | 80247 |
| &nbsp;&nbsp;&nbsp;Accrued expenses and other liabilities | 63350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL LIABILITIES** | 1083848 |
| **NET ASSETS** | $**300098086** |
| **Net Assets Consist Of:** |  |
| &nbsp;&nbsp;&nbsp;Paid in capital ($0 par value, unlimited shares authorized) | $298458795 |
| &nbsp;&nbsp;&nbsp;Accumulated earnings | 1639291 |
| **NET ASSETS** | $**300098086** |
| **Net Asset Value Per Share:** |  |
| Class P Shares |  |
| &nbsp;&nbsp;&nbsp;Net Assets | $**181595641** |
| &nbsp;&nbsp;&nbsp;Shares of beneficial interest outstanding ($0 par value, unlimited shares authorized) | **18266848** |
| &nbsp;&nbsp;&nbsp;Net asset value (Net Assets ÷ Shares Outstanding), offering price and redemption price per share | $**9.94** |
| Class T Shares |  |
| &nbsp;&nbsp;&nbsp;Net Assets | $**99331176** |
| &nbsp;&nbsp;&nbsp;Shares of beneficial interest outstanding ($0 par value, unlimited shares authorized) | **9991974** |
| &nbsp;&nbsp;&nbsp;Net asset value (Net Assets ÷ Shares Outstanding), offering price and redemption price per share | $**9.94** |
| Class NT Shares |  |
| &nbsp;&nbsp;&nbsp;Net Assets | $**19171269** |
| &nbsp;&nbsp;&nbsp;Shares of beneficial interest outstanding ($0 par value, unlimited shares authorized) | **1928365** |
| &nbsp;&nbsp;&nbsp;Net asset value (Net Assets ÷ Shares Outstanding), offering price and redemption price per share | $**9.94** |

---

See accompanying notes to financial statements.

---

| |
|:---|
| ***DGI Balanced Fund*** |
| **STATEMENT OF OPERATIONS (Unaudited)** |
| **For the Six Months Ended December 31, 2022** |

---

---

| | |
|:---|:---|
| **INVESTMENT INCOME** |  |
| &nbsp;&nbsp;&nbsp;Dividends (Foreign Taxes Withheld: $62,640) | $2003217 |
| &nbsp;&nbsp;&nbsp;Interest | 2323239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENT INCOME** | 4326456 |
| **EXPENSES** |  |
| &nbsp;&nbsp;&nbsp;Investment advisory fees | 1497912 |
| &nbsp;&nbsp;&nbsp;Transfer agent fees | 214436 |
| &nbsp;&nbsp;&nbsp;Administrative services fees | 162874 |
| &nbsp;&nbsp;&nbsp;Legal fees | 242827 |
| &nbsp;&nbsp;&nbsp;Printing and postage expenses | 26021 |
| &nbsp;&nbsp;&nbsp;Trustees fees and expenses | 37250 |
| &nbsp;&nbsp;&nbsp;Compliance officer fees | 32184 |
| &nbsp;&nbsp;&nbsp;Audit and tax fees | 11783 |
| &nbsp;&nbsp;&nbsp;Insurance fees | 13060 |
| &nbsp;&nbsp;&nbsp;Custodian fees | 3175 |
| &nbsp;&nbsp;&nbsp;Other expenses | 5235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL EXPENSES** | 2246757 |
| **NET INVESTMENT INCOME** | 2079699 |
| **NET REALIZED AND UNREALIZED LOSS ON INVESTMENTS** |  |
| &nbsp;&nbsp;&nbsp;Net change in unrealized depreciation on: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments | (10515983) |
| **NET REALIZED AND UNREALIZED LOSS ON INVESTMENTS** | (10515983) |
| **NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS** | $**(8436284)** |

---

See accompanying notes to financial statements.

---

| |
|:---|
| ***DGI Balanced Fund*** |
| ***STATEMENTS OF CHANGES IN NET ASSETS*** |

---

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended**<br>**December 31, 2022**<br>**(Unaudited)** | **Year Ended**<br>**June 30,**<br>**2022** |
| **FROM OPERATIONS** |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | $2079699 | $2550014 |
| &nbsp;&nbsp;&nbsp;Net realized gain/(loss) from investments |  | (2064) |
| &nbsp;&nbsp;&nbsp;Net change in unrealized depreciation on investments | (10515983) | (41353426) |
| Net decrease in net assets resulting from operations | (8436284) | (38805476) |
| **DISTRIBUTIONS** |  |  |
| &nbsp;&nbsp;&nbsp;Distributions to shareholders | (3710408) | (1528381) |
| **FROM SHARES OF BENEFICIAL INTEREST** |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from shares sold: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class P Shares | 2151935 | 7220111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class T Shares | 243939 | 555901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class NT Shares | 30201 | 117748 |
| &nbsp;&nbsp;&nbsp;Net asset value of shares issued in reinvestment of distributions: | 1656916 |  |
| &nbsp;&nbsp;&nbsp;Payments for shares redeemed: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class P Shares | (14261384) | (17946771) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class T Shares | (7203879) | (9118818) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class NT Shares | (1279844) | (1717810) |
| Net decrease in net assets from shares of beneficial interest | (18662116) | (20889639) |
| **TOTAL DECREASE IN NET ASSETS** | (30808808) | (61223496) |
| **NET ASSETS** |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of year/period | 330906894 | 392130390 |
| &nbsp;&nbsp;&nbsp;End of year/period | $**300098086** | $**330906894** |
| **SHARE ACTIVITY** |  |  |
| Class P Shares: |  |  |
| &nbsp;&nbsp;&nbsp;Shares Sold | 212256 | 649098 |
| &nbsp;&nbsp;&nbsp;Shares Redeemed | (1410129) | (1598158) |
| &nbsp;&nbsp;&nbsp;Net decrease in shares of beneficial interest outstanding | (1197873) | (949060) |
| Class T Shares: |  |  |
| &nbsp;&nbsp;&nbsp;Shares Sold | 24431 | 48282 |
| &nbsp;&nbsp;&nbsp;Shares Reinvested | 169766 |  |
| &nbsp;&nbsp;&nbsp;Shares Redeemed | (710504) | (808866) |
| &nbsp;&nbsp;&nbsp;Net decrease in shares of beneficial interest outstanding | (516307) | (760584) |
| Class NT Shares: |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold | 3034 | 10131 |
| &nbsp;&nbsp;&nbsp;Shares redeemed | (125225) | (152630) |
| &nbsp;&nbsp;&nbsp;Net decrease in shares of beneficial interest outstanding | (122191) | (142499) |

---

See accompanying notes to financial statements.

---

| |
|:---|
| ***DGI Balanced Fund*** |
| **FINANCIAL HIGHLIGHTS** |
| Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout each Year/Period |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Class P Shares** | **Class P Shares** | **Class P Shares** |
|  | **Six Months Ended**<br>**December 31, 2022**<br>**(Unaudited)** | **Year Ended**<br>**June 30,**<br>**2022** | **Period\* Ended**<br>**June 30,**<br>**2021** |
| Net asset value, beginning of year/period | $10.33 | $11.58 | $11.53 |
| Activity from investment operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (12) | 0.07 | 0.08 | 0.03 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain/(loss) on investments | (0.34) | (1.28) | 0.02 |
| Total from investment operations | (0.27) | (1.20) | 0.05 |
| &nbsp;&nbsp;&nbsp;Distribution to Shareholders from Ordinary Income | (0.12) | (0.05) |  |
| Total distributions | (0.12) | (0.05) |  |
| Net asset value, end of year/period | $9.94 | $10.33 | $11.58 |
| Total return (3) | (2.60)% (4) | (10.45)% | 0.43% |
| Net assets, end of year/period (000's) | $181596 | $201136 | $236301 |
| Ratio of expenses to average net assets (5) | 1.40% (6) | 1.40% | 1.17% (6) |
| Ratio of net investment income to average net assets (25) | 1.29% (6) | 0.68% | 2.10% (6) |
| Portfolio Turnover Rate | 2% (7) | 3% | 0% (7) |

---

\* The DGI Balanced Fund commenced operations on May 24, 2021.

(1) Per
share amounts calculated using the average shares method, which more appropriately presents the per share data for the period.

(2) Recognition
of net investment income by the Fund is affected by the timing of the declaration of dividends by the underlying investment companies
in which the Fund invests.

(3) Total
returns are historical and assume changes in share price and reinvestment of dividends, if any. Total returns for periods of less than
one year are not annualized.

(4) Includes
adjustments in accordance with accounting principles generally accepted in the United States and consequently, the net asset value for
financial reporting purposes and the returns based upon those net assets may differ from the net asset values and returns for shareholder
processing.

(5) Does
not include the expenses of other investment companies in which the Fund invests, if any.

(6) Annualized.

(7) Not
Annualized.

See accompanying notes to financial statements.

---

| |
|:---|
| ***DGI Balanced Fund*** |
| **FINANCIAL HIGHLIGHTS** |
| Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout each Year/Period |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Class T Shares** | **Class T Shares** | **Class T Shares** |
|  | **Six Months Ended**<br>**December 31, 2022**<br>**(Unaudited)** | **Year Ended**<br>**June 30,**<br>**2022** | **Period\* Ended**<br>**June 30,**<br>**2021** |
| Net asset value, beginning of year/period | $10.33 | $11.58 | $11.53 |
| Activity from investment operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (12) | 0.07 | 0.08 | 0.03 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain/(loss) on investments | (0.34) | (1.28) | 0.02 |
| Total from investment operations | (0.27) | (1.20) | 0.05 |
| &nbsp;&nbsp;&nbsp;Distribution to Shareholders from Ordinary Income | (0.12) | (0.05) |  |
| Total distributions | (0.12) | (0.05) |  |
| Net asset value, end of year/period | $9.94 | $10.33 | $11.58 |
| Total return (3) | (2.60)% | (10.45)% | 0.43% |
| Net assets, end of year/period (000's) | $99331 | $108581 | $130443 |
| Ratio of expenses to average net assets (4) | 1.40% (5) | 1.40% | 1.17% (5) |
| Ratio of net investment income to average net assets (24) | 1.29% (5) | 0.68% | 2.10% (5) |
| Portfolio Turnover Rate | 2% (6) | 3% | 0% (6) |

---

\* The DGI Balanced Fund commenced operations on May 24, 2021.

(1) Per
share amounts calculated using the average shares method, which more appropriately presents the per share data for the period.

(2) Recognition
of net investment income by the Fund is affected by the timing of the declaration of dividends by the underlying investment companies
in which the Fund invests.

(3) Total
returns are historical and assume changes in share price and reinvestment of dividends, if any. Total returns for periods of less than
one year are not annualized.

(4) Includes
adjustments in accordance with accounting principles generally accepted in the United States and consequently, the net asset value for
financial reporting purposes and the returns based upon those net assets may differ from the net asset values and returns for shareholder
processing.

(5) Does
not include the expenses of other investment companies in which the Fund invests, if any.

(6) Annualized.

(7) Not
Annualized.

See accompanying notes to financial statements.

---

| |
|:---|
| ***DGI Balanced Fund*** |
| **FINANCIAL HIGHLIGHTS** |
| Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout each Year/Period |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Class NT Shares** | **Class NT Shares** | **Class NT Shares** |
|  | **Six Months Ended**<br>**December 31, 2022**<br>**(Unaudited)** | **Year Ended**<br>**June 30,**<br>**2022** | **Period\* Ended**<br>**June 30,**<br>**2021** |
| Net asset value, beginning of year/period | $10.33 | $11.58 | $11.53 |
| Activity from investment operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (12) | 0.07 | 0.08 | 0.03 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain/(loss) on investments | (0.34) | (1.28) | 0.02 |
| Total from investment operations | (0.27) | (1.20) | 0.05 |
| &nbsp;&nbsp;&nbsp;Distribution to Shareholders from Ordinary Income | (0.12) | (0.05) |  |
| Total distributions | (0.12) | (0.05) |  |
| Net asset value, end of year/period | $9.94 | $10.33 | $11.58 |
| Total return (3) | (2.60)% | (10.45)% | 0.43% |
| Net assets, end of year/period (000's) | $19171 | $21189 | $25386 |
| Ratio of expenses to average net assets (4) | 1.40% (5) | 1.40% | 1.17% (5) |
| Ratio of net investment income to average net assets (24) | 1.29% (5) | 0.68% | 2.10% (5) |
| Portfolio Turnover Rate | 2% (6) | 3% | 0% (6) |

---

\* The DGI Balanced Fund commenced operations on May 24, 2021.

(1) Per
share amounts calculated using the average shares method, which more appropriately presents the per share data for the period.

(2) Recognition
of net investment income by the Fund is affected by the timing of the declaration of dividends by the underlying investment companies
in which the Fund invests.

(3) Total
returns are historical and assume changes in share price and reinvestment of dividends, if any. Total returns for periods of less than
one year are not annualized.

(4) Includes
adjustments in accordance with accounting principles generally accepted in the United States and consequently, the net asset value for
financial reporting purposes and the returns based upon those net assets may differ from the net asset values and returns for shareholder
processing.

(5) Does
not include the expenses of other investment companies in which the Fund invests, if any.

(6) Annualized.

(7) Not
Annualized.

See accompanying notes to financial statements.

---

| |
|:---|
| **DGI Balanced Fund** |
| **NOTES TO FINANCIAL STATEMENTS (Unaudited)** |
| **December 31, 2022** |

---

**1.** **ORGANIZATION** 

The DGI Balanced Fund (the "Fund") is a diversified series of shares of beneficial interest of DGI Investment Trust (the "Trust"), a collective investment trust formed and organized under the laws of the Commonwealth of Puerto Rico (the "Commonwealth" or "Puerto Rico") pursuant to a certain Deed of Constitution of Trust, dated January 28, 2021, as amended and restated from time to time (the "Deed of Trust"), and is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as a diversified, open-end management investment company. The Fund offers Class P, Class T and Class NT shares. The Fund commenced investment operations on May 24, 2021. The Fund's investment objective is to seek long-term capital appreciation and current income. Investment in the Fund is intended for residents of Puerto Rico.

Each share class represents an interest in the same assets of the Fund and classes are identical except for differences in tax treatment. All classes of shares of the Fund have equal voting privileges with respect to the Fund. The Fund's income, expenses and realized and unrealized gains and losses are allocated proportionately each day based upon the relative net assets of such class.

**2.** **SIGNIFICANT ACCOUNTING POLICIES** 

The following is a summary of significant accounting policies followed by the Fund in preparation of its financial statements. The policies are in conformity with U.S. generally accepted accounting principles in the United States of America ("U.S. GAAP") . The preparation of the financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses for the period. Actual results could differ from those estimates. The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board ("FASB") Accounting Standard Codification Topic 946 "Financial Services – Investment Companies".

**Securities Valuation –** The Fund's assets will be valued based upon market quotations when such quotations are available. A security listed or traded on any exchange in the United States will be valued at its last sales price on the principal exchange on which it is traded prior to the time the assets of the Fund are valued. If no sale is reported at that time or the security is traded in the over-the-counter ("OTC") market, the most recent bid will be used for purposes of the valuation. Assets for which market quotations are not readily available will be valued at fair value as determined in good faith by the Fund's investment adviser, pursuant to procedures approved by the Board of Trustees of the Trust (the "Board") . Debt securities (other than short-term obligations) are valued each day by an independent pricing service approved by the Board based on methods which include consideration of: yields or prices of securities of comparable quality, coupon, maturity and type, indications as to values from dealers, and general market conditions or market quotations from a major market maker in the securities. Investments valued in currencies other than the U.S. dollar are converted to U.S. dollars using exchange rates obtained from pricing services. Short-term debt obligations having 60 days or less remaining until maturity, at time of purchase, may be valued at amortized cost. These prices may change depending on market conditions.

**Exchange Traded Funds –** The Funds may invest in exchange traded funds ("ETFs"). ETFs are a type of index fund bought and sold on a securities exchange. An ETF trades like common stock and represents a fixed portfolio of securities designed to track the performance and dividend yield of a particular domestic or foreign market index. The Funds may purchase an ETF to temporarily gain exposure to a portion of the U.S. or a foreign market. The risks of owning an ETF generally reflect the risks of owning the underlying securities they are designed to track, although the lack of liquidity on an ETF could result in it being more volatile. Additionally, ETFs have fees and expenses that reduce their value.

The Fund utilizes various methods to measure the fair value of all of its investments on a recurring basis. GAAP establishes a hierarchy that prioritizes inputs to valuation methods. The three levels of input are:

**Level 1** – Unadjusted quoted prices in active markets for identical assets and liabilities that the Fund has the ability to access.

**Level 2** – Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument in an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

---

| |
|:---|
| **DGI Balanced Fund** |
| **NOTES TO FINANCIAL STATEMENTS (Unaudited)(Continued)** |
| **December 31, 2022** |

---

**Level 3** – Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available; representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.

The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety, is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following tables summarize the inputs used as of December 31, 2022 for the Fund's assets and liabilities measured at fair value:

**DGI Balanced Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets \*** | Level 1 | Level 2 | Level 3 | Total |
| U.S. Government Agencies | $— | $135440941 | $— | $135440941 |
| Collateralized Mortgage Obligations |  | 80386 | 154713 | 235099 |
| Exchange Traded Funds | 104648974 |  |  | 104648974 |
| Common Stock | 36567600 |  |  | 36567600 |
| Money Market Fund | 21654147 |  |  | 21654147 |
| Total | $162870721 | $135521327 | $154713 | $298546761 |

---

\* Refer to the Portfolio of Investments for classification.

The following table is a reconciliation of assets in which Level 3 inputs were used in determining value:

---

| | |
|:---|:---|
|  | Collateralized<br>Mortgage<br>Obligations |
| Beginning Balance | $283360 |
| Securities received in reorganization |  |
| Total realized gain/(loss) |  |
| Unrealized Appreciation/(Depreciation) |  |
| Cost of Purchases |  |
| Proceeds from Sales |  |
| Proceeds from Principal | (128647) |
| Accrued Interest |  |
| Net transfers in/out of level 3 |  |
| Ending Balance | $154713 |

---

These securities were valued based on non-executable broker quotes.

**Security Transactions and Investment Income** – Security transactions are accounted for on trade date basis. Interest income is recognized on an accrual basis. Discounts are accreted and premiums are amortized on securities purchased over the lives of the respective securities. Dividend income is recorded on the ex-dividend date. Realized gains or losses from sales of securities are determined by comparing the identified cost of the security lot sold with the net sales proceeds.

---

| |
|:---|
| **DGI Balanced Fund** |
| **NOTES TO FINANCIAL STATEMENTS (Unaudited)(Continued)** |
| **December 31, 2022** |

---

**Dividends and Distributions –** The Fund expects to declare and distribute all of its net investment income, if any, to shareholders as dividends at least annually. The amount of any distribution will vary, and there is no guarantee the Fund will pay either an income dividend or a capital gains distribution. Distributions will be reinvested in shares of the Fund, unless otherwise directed by the shareholder. Generally, distributions within taxable accounts are taxable events for shareholders whether the distributions are received in cash or reinvested.

Dividends consisting of Ordinary Dividends to individual shareholders will be distributed net of the 15% tax imposed by the Puerto Rico Internal Revenue Code of 2011, as amended (the "PR Code"), which will be automatically withheld at source by the Fund. All dividend distributions by the Fund to a tax advantaged account, such as a Puerto Rico tax-qualified retirement plan or IRA account, will be made on a gross basis, without any tax withholding, and will be reinvested automatically in shares of the Fund. Such distributions may be taxed as ordinary income when withdrawn from the tax-advantaged account.

In general, the Fund's distributions will be subject to Puerto Rico income taxes as dividend income, capital gains, or some combination of both, unless you are investing through a tax advantaged arrangement, such as a Puerto Rico tax-qualified retirement plan or an IRA, in which case your distributions may be taxed as ordinary income when withdrawn from the tax-advantaged account. Such distributions will also be subject to U.S federal income taxes and the PFIC rules if received by a U.S. person not residing in Puerto Rico. Distributions to residents of Puerto Rico who own, directly or indirectly, less than 10% of the total shares of the Fund will not be subject to U.S. federal income taxes.

**Cash –** The Fund considers its investment in an FDIC insured interest bearing savings account to be cash. The Fund maintains cash balances, which, at times, may exceed federally insured limits. The Fund maintains these balances with a high-quality financial institution.

**3.** **INVESTMENT TRANSACTIONS AND ASSOCIATED RISKS** 

For the six months ended December 31, 2022, the aggregate purchases and sales of investments (excluding U.S. Government securities and short-term investments) were $4,578,639 and $8,053,825, respectively.

**4.** **INVESTMENT ADVISORY AGREEMENT AND TRANSACTION WITH RELATED PARTIES** 

Oriental Trust, a separately identifiable division of Oriental Bank, the "Adviser", acts as investment adviser to the Fund under an investment advisory agreement (the "Advisory Agreement") with the Fund. Under the Advisory Agreement, the Fund pays to the Adviser a monthly advisory fee at an annual rate of 0.93% of its average daily net assets. Pursuant to the advisory agreement, the Fund incurred $1,497,912 in advisory fees for the six months ended December 31, 2022.

The distributor of the Fund is Oriental Financial Services LLC (the "Distributor").

Pursuant to a separate servicing agreement with Ultimus Fund Solutions, LLC ("UFS"), the Fund pays UFS fees for providing administration, fund accounting and transfer agency services to the Fund. Certain officers of the Trust are also officers of UFS, and are not paid any fees directly by the Fund for serving in such capacities.

In addition, certain affiliates of UFS provide ancillary services to the Fund as follows:

<u>Northern Lights Compliance Services, LLC ("NLCS")</u>, an affiliate of UFS, provides a Chief Compliance Officer to the Trust, as well as related compliance services, pursuant to a consulting agreement between NLCS and the Trust. Under the terms of such agreement, NLCS receives fees from the Fund.

<u>Blu Giant, LLC ("Blu Giant")</u>, an affiliate of UFS, provides EDGAR conversion and filing services as well as print management services for the Fund on an ad-hoc basis. For the provision of these services, Blu Giant receives fees from the Fund.

---

| |
|:---|
| **DGI Balanced Fund** |
| **NOTES TO FINANCIAL STATEMENTS (Unaudited)(Continued)** |
| **December 31, 2022** |

---

**5.** **TAX INFORMATION** 

The Fund is intended solely for residents of Puerto Rico. The Fund will be treated as a registered investment company under the PR Code. As such, the Fund will be exempt from Puerto Rico income tax for a taxable year if it distributes to its shareholders at least 90% of its net income for the taxable year within the time period provided by the PR Code.

The Fund will be treated as a "passive foreign investment company" ("PFIC") under the United States Internal Revenue Code of 1986, as amended (the "US Code"). As such, the Fund will not qualify as a regulated investment company under Subchapter M of the US Code and will be treated as a non-U.S. corporation whose only business activity in the United States is trading in stocks or securities for its own account; which, under the US Code, does not constitute engaging in the conduct of a trade or business within the United States, even if its principal office is located therein. As a result, the Fund will be subject to U.S. federal income tax withholding only with respect to certain types of income from United States sources considered fixed, determinable, annual and periodic income (such as dividends and interest paid by U.S. payors).

In general, the Fund's distributions will be subject to Puerto Rico income taxes as dividend income, capital gains, or some combination of both, unless you are investing through a tax-advantaged arrangement, such as a Puerto Rico tax-qualified retirement plan or an IRA, in which case your distributions may be taxed as ordinary income when withdrawn from the tax-advantaged account. Such distributions will also be subject to U.S federal income taxes and the PFIC rules if received by a U.S. person not residing in Puerto Rico. Distributions to residents of Puerto Rico who own, directly or indirectly, less than 10% of the total shares of the Fund will not be subject to U.S. federal income taxes.

**6.** **TAX COMPONENTS OF CAPITAL** 

The tax attributes of distributions paid during the fiscal year ended June 30, 2022, were as follows:

---

| | |
|:---|:---|
|  | Fiscal Year Ended<br>June 30, 2022 |
| Ordinary Income | $1528381 |
| Long-Term Capital Gain |  |
| Return of Capital |  |
| Total | $1528381 |

---

The Fund's net investment income and net realized gain (loss) on investments reflected in the financial statements differ from distributable net investment income and net realized gain (loss) on investments for tax purposes. Permanent book and tax differences are primarily attributable to the tax adjustments for r paydowns from mortgage-backed securities, as follows:

---

| | |
|:---|:---|
|  | 2022 |
| Net investment income per statement of operations | $2550014 |
| Reclassification of realized loss on securities' paydown for tax purposes | 713476 |
| Distributable net investment income for tax purposes | $3263490 |
| Net realized gain (loss) on investments per statement of operations | $(2064) |
| Reclassification of realized loss on securities' paydown for tax purposes | (713476) |
| Net realized loss on investments and futures contracts for tax purposes | $(715540) |

---

The undistributed net investment income and accumulated net realized loss on investments (tax basis) at June 30, 2022, was as follows:

---

| | |
|:---|:---|
|  | 2022 |
| Undistributed net investment income, beginning of the year | $862268 |
| Net investment income for the year | 3263490 |
| Distributions | (1528381) |
| Undistributed net investment income, end of the year | $2597377 |
| Accumulated net realized loss on investments and future contracts, beginning of the year | $(52239) |
| Net realized loss on investment and future contracts for the year, tax basis | (715540) |
| Distributions |  |
| &nbsp;&nbsp;&nbsp;end of the year, tax basis | $(767779) |

---

---

| |
|:---|
| **DGI Balanced Fund** |
| **NOTES TO FINANCIAL STATEMENTS (Unaudited)(Continued)** |
| **December 31, 2022** |

---

**7.** **CONTROL OWNERSHIP** 

The beneficial ownership, either directly or indirectly, of more than 25% of the voting securities of the Fund creates presumption of control of the Fund, under Section 2(a) 9 of the 1940 Act. As of December 31, 2022, Pershing, holding shares for the benefit of others in nominee name, held approximately 99.6% of the voting securities of the Fund.

**8.** **SUBSEQUENT EVENTS** 

Subsequent events after the date of the Statement of Assets and Liabilities have been evaluated through the date the financial statements were issued. Management has determined that no events or transactions occurred requiring adjustment or disclosure in the financial statements.

---

| |
|:---|
| **DGI Balanced Fund** |
| **EXPENSE EXAMPLES** (Unaudited) |
| December 31, 2022 |

---

As a shareholder of the DGI Balanced Fund, you incur ongoing costs, including management fees and certain Fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and compare these costs with the ongoing costs of investing in other mutual funds.

The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period from July 1, 2022 through December 31, 2022.

***Actual Expenses***

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

***Hypothetical Example for Comparison Purposes***

The "Hypothetical" line in the table below provides information about hypothetical account values and hypothetical expenses based on the Fund's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund's actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balances or expenses you paid for the period. You may use this information to compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales loads, or redemption fees. Therefore, the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  | ***Hypothetical (5% return before*** | ***Hypothetical (5% return before*** |
|  |  | *Beginning* |  | ***Actual*** | ***expenses)*** | ***expenses)*** |
|  |  | *Account* | *Ending* | *Expenses Paid* | *Ending* | *Expenses Paid* |
|  | *Annualized* | *Value* | *Account Value* | *During Period* | *Account Value* | *During Period* |
|  | *Expense Ratio* | *7/1/2022* | *12/31/2022* | *7/1/22-12/31/22* | *12/31/2022* | *7/1/22-12/31/22* |
| Class P\* | 1.40% | $1000.00 | $974.00 | $6.97 | $1018.15 | $7.12 |
| Class T\* | 1.40% | $1000.00 | $974.00 | $6.97 | $1018.15 | $7.12 |
| Class NT\* | 1.40% | $1000.00 | $974.00 | $6.97 | $1018.15 | $7.12 |

---

\* Expenses paid during the period are equal to the Fund's annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the full half-year period).

**<u>PROXY VOTING POLICY</u>**

Information regarding how the Fund voted proxies relating to portfolio securities for the most recent twelve month period ended June 30 as well as a description of the policies and procedures that the Fund uses to determine how to vote proxies is available without charge, upon request, by calling 1-877-910-4232 or by referring to the Securities and Exchange Commission's ("SEC") website at http://www.sec.gov.

**<u>PORTFOLIO HOLDINGS</u>**

The Fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year as an exhibit to Form N-PORT. Form N-PORT are available on the SEC's website at http://www.sec.gov. The information on Form N-PORT is available without charge, upon request, by calling 1- 877-910-4232.

---

| |
|:---|
| **INVESTMENT ADVISER** |
| Oriental Trust |
| 254 Munoz Rivera Avenue, 10<sup>th</sup> Floor |
| San Juan, Puerto Rico 00918 |
| **ADMINISTRATOR** |
| Ultimus Fund Solutions, LLC |
| 225 Pictoria Drive, Suite 450 |
| Cincinnati, OH 45246 |
| DGIPR-SAR-22 |

---

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

**Item 2. Code of Ethics.** Not applicable.

**Item 3. Audit Committee Financial Expert.** Not applicable.

**Item 4. Principal Accountant Fees and Services.** Not applicable.

**Item 5. Audit Committee of Listed Companies.** Not applicable to open-end investment companies.

**Item 6. Schedule of Investments.** Schedule of investments in securities of unaffiliated issuers is included under Item 1.

**Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Funds.** Not applicable to open-end investment companies.

**Item 8. Portfolio Managers of Closed-End Management Investment Companies.** Not applicable to open-end investment companies.

**Item 9. Purchases of Equity Securities by Closed-End Funds.** Not applicable to open-end investment companies.

**Item 10. Submission of Matters to a Vote of Security Holders.** None

**Item 11. Controls and Procedures.** 

(a) Based on an evaluation of the Registrant's disclosure controls and procedures as of a date within 90 days of filing date of this Form N-CSR, the principal executive officer and principal financial officer of the Registrant have concluded that the disclosure controls and procedures of the Registrant are reasonably designed to ensure that the information required in filings on Form N-CSR is recorded, processed, summarized, and reported by the filing date, including that information required to be disclosed is accumulated and communicated to the Registrant's management, including the Registrant's principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure.

(b) There were no significant changes in the Registrant's internal control over financial reporting that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

**Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.** Not applicable to open-end investment companies.

**Item 13. Exhibits.** 

(a)(1) Code of Ethics filed herewith.

(a)(2) [Certifications required by Section 302 of the Sarbanes-Oxley Act of 2002 (and Item 11(a)(2) of Form N-CSR) are filed herewith.](cert1.htm)

(a)(3) Not applicable for open-end investment companies.

(b) [Certifications required by Section 906 of the Sarbanes-Oxley Act of 2002 (and Item 11(b) of Form N-CSR) are filed herewith.](cert2.htm)

**SIGNATURES**

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

(Registrant) <u>DGI Investment Trust</u>

By (Signature and Title)

 <u>/s/ Jose R. Fernandez Martinez</u> 

Jose R. Fernandez Martinez, Principal Executive Officer/President

Date <u>3/10/23</u> 

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

By (Signature and Title)

 <u>/s/ Jose R. Fernandez Martinez</u> 

Jose R. Fernandez Martinez, Principal Executive Officer/President

Date <u>3/10/23</u> 

By (Signature and Title)

 <u>/s/ Maritza Arizmendi Diaz</u> 

Maritza Arizmendi Diaz, Principal Financial Officer/Treasurer

Date <u>3/10/23</u>

## Ex-99.Cert

CERTIFICATIONS

I, Jose R. Fernandez Martinez, certify that:

1. I have reviewed this report on Form N-CSR of the DGI Balanced Fund;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: <u>3/10/23</u> <u>/s/ Jose R. Fernandez Martinez</u> 

Jose R. Fernandez Martinez

Principal Executive Officer/President

I, Maritza Arizmendi Diaz, certify that:

1. I have reviewed this report on Form N-CSR of the DGI Balanced Fund;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: <u>3/10/23</u> <u>/s/Maritza Arizmendi Diaz</u> 

Maritza Arizmendi Diaz

Principal Financial Officer/Treasurer

## Exhibit 99.906

**certification**

Jose R. Fernandez Martinez, Principal Executive Officer/President, and Maritza Arizmendi Diaz, Principal Financial Officer/Treasurer of DGI Investment Trust (the "Registrant"), each certify to the best of his knowledge that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Registrant's periodic report on Form N-CSR for the period ended December 31, 2022 (the "Form N-CSR") fully complies with the requirements of Sections 15(d) of the Securities Exchange Act of 1934, as amended; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Principal Executive Officer/President Principal Financial Officer/Treasurer

DGI Investment Trust DGI Investment Trust

<u>/s/ Jose R. Fernandez Martinez</u> <u>/s/ Maritza Arizmendi Diaz</u>

Jose R. Fernandez Martinez Maritza Arizmendi Diaz

Date: <u>3/10/23</u> Date: <u>3/10/23</u> 

A signed original of this written statement required by Section 906 of the Sarbanes-Oxley Act of 2002 has been provided to the DGI Investment Trust and will be retained by the DGI Investment Trust and furnished to the Securities and Exchange Commission (the "Commission") or its staff upon request.

This certification is being furnished to the Commission solely pursuant to 18 U.S.C. § 1350 and is not being filed as part of the Form N-CSR filed with the Commission.