# EDGAR Filing Document

**Accession Number:** 0001688680
**File Stem:** 0001133228-26-008042
**Filing Date:** 2026-5
**Character Count:** 1512892
**Document Hash:** eb782c1044cb838b181cbcef60b477be
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001133228-26-008042.hdr.sgml**: 20260506

**ACCESSION NUMBER**: 0001133228-26-008042

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 47

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260506

**DATE AS OF CHANGE**: 20260506

**EFFECTIVENESS DATE**: 20260506

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Brinker Capital Destinations Trust
- **CENTRAL INDEX KEY:** 0001688680

**ORGANIZATION NAME:**
- **EIN:** 816867493
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0228

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23207
- **FILM NUMBER:** 26946447

**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

## Series and Classes Contracts Data

### Destinations Large Cap Equity Fund (Series ID: S000056100)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000176692 | Class I      | DLCFX           |
| C000202452 | Class Z      | DLCZX           |

### Destinations Multi Strategy Alternatives Fund (Series ID: S000056101)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000176693 | Class I      | DMSFX           |
| C000202453 | Class Z      | DMSZX           |

### Destinations Small-Mid Cap Equity Fund (Series ID: S000056102)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000176694 | Class I      | DSMFX           |
| C000202454 | Class Z      | DSMZX           |

### Destinations International Equity Fund (Series ID: S000056103)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000176695 | Class I      | DIEFX           |
| C000202455 | Class Z      | DIEZX           |

### Destinations Equity Income Fund (Series ID: S000056104)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000176696 | Class I      | DGEFX           |
| C000202456 | Class Z      | DGEZX           |

### Destinations Real Assets Fund (Series ID: S000056105)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000176697 | Class I      | DRAFX           |
| C000202457 | Class Z      | DRAZX           |

### Destinations Core Fixed Income Fund (Series ID: S000056106)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000176698 | Class I      | DCFFX           |
| C000202458 | Class Z      | DCFZX           |

### Destinations Low Duration Fixed Income Fund (Series ID: S000056107)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000176699 | Class I      | DLDFX           |
| C000202459 | Class Z      | DLDZX           |

### Destinations Global Fixed Income Opportunities Fund (Series ID: S000056108)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000176700 | Class I      | DGFFX           |
| C000202460 | Class Z      | DGFZX           |

### Destinations Municipal Fixed Income Fund (Series ID: S000056109)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000176701 | Class I      | DMFFX           |
| C000202461 | Class Z      | DMFZX           |

### Destinations Shelter Fund (Series ID: S000071226)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000226066 | Class I      | DSHFX           |
| C000226067 | Class Z      | DSHZX           |

?xml version='1.0' encoding='ASCII'? Consolidated ssr-output-EDGAR XBRL File

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM N-CSR**

**CERTIFIED SHAREHOLDER REPORT OF REGISTERED**

**MANAGEMENT INVESTMENT COMPANIES**

Investment Company Act file number: **811-23207** 

**Brinker Capital Destinations Trust**

(Exact name of registrant as specified in charter)

**1055 Westlakes Drive, Suite 250**

**Berwyn, PA 19312** 

(Address of principal executive offices) (Zip Code)

**The Corporation Trust Company**

**1209 Orange Street**

**Wilmington, Delaware 19801** 

(Name and address of agent for service)

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

Date of fiscal year end:

**February 28**

Date of reporting period:

**February 28, 2026**

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

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form

N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

**Item 1. Report to Stockholders.**

**TABLE OF CONTENTS**

[**Destinations Large Cap Equity Fund** **Class I – DLCFX**](#pro001)

[**Destinations Large Cap Equity Fund Class Z - DLCZX**](#pro002)

[**Destinations Small-Mid Cap Equity Fund Class I - DSMFX**](#pro003)

[**Destinations Small-Mid Cap Equity Fund Class Z - DSMZX**](#pro004)

[**Destinations International Equity Fund Class I - DIEFX**](#pro005)

[**Destinations International Equity Fund Class Z - DIEZX**](#pro006)

[**Destinations Equity Income Fund Class I - DGEFX**](#pro007)

[**Destinations Equity Income Fund Class Z - DGEZX**](#pro008)

[**Destinations Core Fixed Income Fund Class I - DCFFX**](#pro009)

[**Destinations Core Fixed Income Fund Class Z - DCFZX**](#pro010)

[**Destinations Low Duration Fixed Income Fund Class I - DLDFX**](#pro011)

[**Destinations Low Duration Fixed Income Fund Class Z - DLDZX**](#pro012)

[**Destinations Global Fixed Income Opportunities Fund Class I - DGFFX**](#pro013)

[**Destinations Global Fixed Income Opportunities Fund Class Z - DGFZX**](#pro014)

[**Destinations Municipal Fixed Income Fund Class I - DMFFX**](#pro015)

[**Destinations Municipal Fixed Income Fund Class Z - DMFZX**](#pro016)

[**Destinations Multi Strategy Alternatives Fund Class I - DMSFX**](#pro017)

[**Destinations Multi Strategy Alternatives Fund Class Z - DMSZX**](#pro018)

[**Destinations Shelter Fund Class I - DSHFX**](#pro019)

[**Destinations Shelter Fund Class Z - DSHZX**](#pro020)

[**Destinations Real Assets Fund Class I - DRAFX**](#pro021)

[**Destinations Real Assets Fund Class Z - DRAZX**](#pro022)

# Destinations Large Cap Equity Fund

# Class I

# DLCFX

## Annual Shareholder Report - February 28, 2026
![Image](ia8e07e1e08970f1f049c6165.jpg)

This annual shareholder summary report contains important information about the Fund for the period of March 1, 2025 to February 28, 2026. You can find additional information about the Fund at http://destinationsfunds.com/. You can also request this information by calling 1-877-771-7979.

**Fund Overview** 

The Destinations Large Cap Equity Fund seeks to provide long-term capital appreciation investing primarily in large capitalization, U.S. based equity.

## What were the Fund's costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class name | **Cost of a $10,000 investment** | **Cost paid as a % of a $10,000 investment** |
| Class I | $90 | 0.85% |

---

## How did the fund perform last year?
For the fiscal year ending February 28, 2026, Class I returned 12.49% compared to a return of 16.73% for the Russell 1000 Index. Stock selection within materials, consumer staples, and utilities were the primary positive contributors to relative performance. From a sector allocation perspective, the underweight to the consumer discretionary, consumer staples, and real estate sectors also contributed positively to relative performance. Detracting from the Fund's relative performance was stock selection within the information technology and consumer discretionary sectors. An overweight to health care and an underweight to communication services also detracted from relative performance.

## Fund Performance
The following chart compares the value of a hypothetical $10,000 investment in the Destinations Large Cap Equity Fund Class I from inception (March 20, 2017) to February 28, 2026 as compared with the Russell 1000 Index.

![A line chart as described in the following paragraph.](ifceeef96432df4295deb08d7.jpg)

---

| | | |
|:---|:---|:---|
| | **Class I** | **Russell 1000 Index** |
| **Mar-17** | $10000 | $10000 |
| **Aug-17** | $10680 | $10504 |
| **Feb-18** | $11789 | $11619 |
| **Aug-18** | $12554 | $12585 |
| **Feb-19** | $12111 | $12199 |
| **Aug-19** | $12497 | $12899 |
| **Feb-20** | $12628 | $13153 |
| **Aug-20** | $15116 | $15801 |
| **Feb-21** | $17167 | $17663 |
| **Aug-21** | $20114 | $20897 |
| **Feb-22** | $18451 | $20086 |
| **Aug-22** | $16432 | $18188 |
| **Feb-23** | $17120 | $18438 |
| **Aug-23** | $19157 | $20989 |
| **Feb-24** | $21945 | $23935 |
| **Aug-24** | $23994 | $26572 |
| **Feb-25** | $25250 | $28270 |
| **Aug-25** | $27334 | $30886 |
| **Feb-26** | $28403 | $33001 |

---

The chart above represents historical performance of a hypothetical investment of $10,000 in the Fund from inception (March 20, 2017). The result of this chart does not predict the results of future time periods and does not guarantee the same results.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| Name | **1 Year** | **5 Years** | **Since Inception (03/20/2017)** |
| Class I | 12.49% | 10.60% | 12.33% |
| Russell 1000 Index | 16.73% | 13.32% | 14.19% |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| Total Net Assets | $3493556947 |
| Number of Portfolio Holdings | 315 |
| Portfolio Turnover Rate | 98% |
| Advisory Fees Paid | $21668318 |

---

**The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Call 1-877-771-7979 for current performance questions.**

## What did the Fund invest in?
The Fund will invest in the equity securities of large capitalization companies. The Fund defines large cap companies as companies whose market capitalizations typically fall within the range of the Russell 1000 Index. Although most assets will typically be invested in U.S. common stocks, the Fund may invest directly in foreign stocks or indirectly through depositary receipts in keeping with the Fund's objectives. The Fund employs a multi-manager sub-advised structure. The Adviser may also invest a portion of the Fund's assets in shares of exchange-traded funds (ETFs).

### Asset Class Weightings

### (% of Total Investments)

---

| | |
|:---|:---|
| Common Stocks | 93.0% |
| Exchange Traded Funds (ETFs) | 5.9% |
| Preferred Stocks | 0.0%<sup>Footnote Reference\*</sup> |
| Short-Term Investments | 1.1% |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Position represents less than 0.05%. |

---

### Sector Allocation

### (% of Total Investments)

---

| | |
|:---|:---|
| Technology | 25.3% |
| Financial | 16.8% |
| Communications | 13.6% |
| Consumer Non-cyclical | 12.5% |
| Industrial | 9.4% |
| Exchange Traded Funds (ETFs) | 5.9% |
| Others | 15.4% |
| Short-Term Investments | 1.1% |
| Total | 100.0% |

---

## Material Fund Changes
There were no material changes to the Fund.

## Change in or Disagreements with Accountants
There were no changes to or disagreements with our accountant.

## Householding
If you wish to receive a copy of this document at a new address, please call 1-877-771-7979.

## Additional Information
If you wish to view additional information about the Fund, including its prospectus, financial statements, holdings and proxy voting information, please visit http://destinationsfunds.com/.

Phone: 1-877-771-7979

![Image](ia8e07e1e08970f1f049c6165.jpg)

#### Destinations Large Cap Equity Fund

#### Class I

#### Annual Shareholder Report - February 28, 2026

#### DSA-TSR-BC01-I

# Destinations Large Cap Equity Fund

# Class Z

# DLCZX

## Annual Shareholder Report - February 28, 2026
![Image](ia8e07e1e08970f1f049c6165.jpg)

This annual shareholder summary report contains important information about the Fund for the period of March 1, 2025 to February 28, 2026. You can find additional information about the Fund at http://destinationsfunds.com/. You can also request this information by calling 1-877-771-7979.

**Fund Overview** 

The Destinations Large Cap Equity Fund seeks to provide long-term capital appreciation investing primarily in large capitalization, U.S. based equity.

## What were the Fund's costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class name | **Cost of a $10,000 investment** | **Cost paid as a % of a $10,000 investment** |
| Class Z | $74 | 0.70% |

---

## How did the fund perform last year?
For the fiscal year ending February 28, 2026, Class Z returned 12.73% compared to a return of 16.73% for the Russell 1000 Index. Stock selection within materials, consumer staples, and utilities were the primary positive contributors to relative performance. From a sector allocation perspective, the underweight to the consumer discretionary, consumer staples, and real estate sectors also contributed positively to relative performance. Detracting from the Fund's relative performance was stock selection within the information technology and consumer discretionary sectors. An overweight to health care and an underweight to communication services also detracted from relative performance.

## Fund Performance
The following chart compares the value of a hypothetical $10,000 investment in the Destinations Large Cap Equity Fund Class Z from inception (July 16, 2018) to February 28, 2026 as compared with the Russell 1000 Index.

![A line chart as described in the following paragraph.](i4a4b1527382fba6eba57196c.jpg)

---

| | | |
|:---|:---|:---|
| | **Class Z** | **Russell 1000 Index** |
| **Jul-18** | $10000 | $10000 |
| **Aug-18** | $10270 | $10397 |
| **Feb-19** | $9906 | $10077 |
| **Aug-19** | $10231 | $10656 |
| **Feb-20** | $10347 | $10866 |
| **Aug-20** | $12385 | $13053 |
| **Feb-21** | $14088 | $14591 |
| **Aug-21** | $16508 | $17263 |
| **Feb-22** | $15167 | $16593 |
| **Aug-22** | $13512 | $15025 |
| **Feb-23** | $14080 | $15231 |
| **Aug-23** | $15773 | $17339 |
| **Feb-24** | $18093 | $19772 |
| **Aug-24** | $19788 | $21951 |
| **Feb-25** | $20841 | $23354 |
| **Aug-25** | $22581 | $25515 |
| **Feb-26** | $23494 | $27262 |

---

The chart above represents historical performance of a hypothetical investment of $10,000 in the Fund from inception (July 16, 2018). The result of this chart does not predict the results of future time periods and does not guarantee the same results.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| Name | **1 Year** | **5 Years** | **Since Inception (07/16/2018)** |
| Class Z | 12.73% | 10.77% | 11.81% |
| Russell 1000 Index | 16.73% | 13.32% | 13.98% |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| Total Net Assets | $3493556947 |
| Number of Portfolio Holdings | 315 |
| Portfolio Turnover Rate | 98% |
| Advisory Fees Paid | $21668318 |

---

**The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Call 1-877-771-7979 for current performance questions.**

## What did the Fund invest in?
The Fund will invest in the equity securities of large capitalization companies. The Fund defines large cap companies as companies whose market capitalizations typically fall within the range of the Russell 1000 Index. Although most assets will typically be invested in U.S. common stocks, the Fund may invest directly in foreign stocks or indirectly through depositary receipts in keeping with the Fund's objectives. The Fund employs a multi-manager sub-advised structure. The Adviser may also invest a portion of the Fund's assets in shares of exchange-traded funds (ETFs).

### Asset Class Weightings

### (% of Total Investments)

---

| | |
|:---|:---|
| Common Stocks | 93.0% |
| Exchange Traded Funds (ETFs) | 5.9% |
| Preferred Stocks | 0.0%<sup>Footnote Reference\*</sup> |
| Short-Term Investments | 1.1% |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Position represents less than 0.05%. |

---

### Sector Allocation

### (% of Total Investments)

---

| | |
|:---|:---|
| Technology | 25.3% |
| Financial | 16.8% |
| Communications | 13.6% |
| Consumer Non-cyclical | 12.5% |
| Industrial | 9.4% |
| Exchange Traded Funds (ETFs) | 5.9% |
| Others | 15.4% |
| Short-Term Investments | 1.1% |
| Total | 100.0% |

---

## Material Fund Changes
There were no material changes to the Fund.

## Change in or Disagreements with Accountants
There were no changes to or disagreements with our accountant.

## Householding
If you wish to receive a copy of this document at a new address, please call 1-877-771-7979.

## Additional Information
If you wish to view additional information about the Fund, including its prospectus, financial statements, holdings and proxy voting information, please visit http://destinationsfunds.com/.

Phone: 1-877-771-7979

![Image](ia8e07e1e08970f1f049c6165.jpg)

#### Destinations Large Cap Equity Fund

#### Class Z

#### Annual Shareholder Report - February 28, 2026

#### DSA-TSR-BC01-Z

# Destinations Small-Mid Cap Equity Fund

# Class I

# DSMFX

## Annual Shareholder Report - February 28, 2026
![Image](ia8e07e1e08970f1f049c6165.jpg)

This annual shareholder summary report contains important information about the Fund for the period of March 1, 2025 to February 28, 2026. You can find additional information about the Fund at http://destinationsfunds.com/. You can also request this information by calling 1-877-771-7979.

**Fund Overview** 

The Destinations Small-Mid Cap Equity Fund seeks to provide long-term capital appreciation and invests primarily in small- and mid-capitalization equity securities.

## What were the Fund's costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class name | **Cost of a $10,000 investment** | **Cost paid as a % of a $10,000 investment** |
| Class I | $127 | 1.11% |

---

## How did the fund perform last year?
For the fiscal year ending February 28, 2026, Class I returned 28.81% compared to a return of 21.97% for the Russell 2500 Index. Stock selection within the information technology and industrials sectors as well as underweight exposures to the financials and real estate sectors contributed positively to relative performance for the period. Detracting from the Fund's relative performance over the period was stock selection within the consumer staples and utilities sectors. An underweight to the materials sector also detracted from relative performance.

## Fund Performance
The following chart compares the value of a hypothetical $10,000 investment in the Destinations Small-Mid Cap Equity Fund Class I from inception (March 20, 2017) to February 28, 2026 as compared with the Russell 2500 Index.

![A line chart as described in the following paragraph.](ie6e85370104f79c06d722b2e.jpg)

---

| | | |
|:---|:---|:---|
| | **Class I** | **Russell 2500 Index** |
| **Mar-17** | $10000 | $10000 |
| **Aug-17** | $10310 | $10190 |
| **Feb-18** | $11083 | $11077 |
| **Aug-18** | $12869 | $12568 |
| **Feb-19** | $12082 | $11782 |
| **Aug-19** | $12263 | $11670 |
| **Feb-20** | $12144 | $11570 |
| **Aug-20** | $13245 | $12463 |
| **Feb-21** | $18660 | $16881 |
| **Aug-21** | $20284 | $18179 |
| **Feb-22** | $18971 | $16948 |
| **Aug-22** | $17391 | $15353 |
| **Feb-23** | $17860 | $16029 |
| **Aug-23** | $18193 | $16372 |
| **Feb-24** | $20003 | $17992 |
| **Aug-24** | $21401 | $19217 |
| **Feb-25** | $21417 | $19366 |
| **Aug-25** | $23397 | $21146 |
| **Feb-26** | $27587 | $23621 |

---

The chart above represents historical performance of a hypothetical investment of $10,000 in the Fund from inception (March 20, 2017). The result of this chart does not predict the results of future time periods and does not guarantee the same results.

## Average Annual Total Returns (%)

## Key Fund Statistics

---

| | |
|:---|:---|
| Total Net Assets | $747103820 |
| Number of Portfolio Holdings | 2722 |
| Portfolio Turnover Rate | 124% |
| Advisory Fees Paid | $5534142 |

---

---

| | | | |
|:---|:---|:---|:---|
| Name | **1 Year** | **5 Years** | **Since Inception (03/20/2017)** |
| Class I | 28.81%<sup>Footnote Reference\*</sup> | 8.13% | 11.96% |
| Russell 2500 Index | 21.97% | 6.95% | 10.04% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Includes the impact of proceeds received and credited to the Fund resulting from class action settlements, which enhanced the Fund's performance for the year ended February 28, 2026 by 0.03%. |

---

**The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Call 1-877-771-7979 for current performance questions.**

## What did the Fund invest in?
The Fund will invest in the equity securities of small- and mid-capitalization companies. The Fund defines small-mid cap companies as companies whose market capitalizations typically fall within the range of either the Russell Midcap Index or the Russell 2000 Index. The Fund may invest a portion of its assets in securities of micro-cap companies. The Fund invests in securities of companies operating in a broad range of industries. The Fund employs a multi-manager sub-advised structure. The Adviser may also invest a portion of the Fund's assets in shares of exchange-traded funds (ETFs).

### Asset Class Weightings

### (% of Total Investments)

---

| | |
|:---|:---|
| Common Stocks | 93.0% |
| Exchange Traded Funds (ETFs) | 4.4% |
| Limited Partnership | 0.0%<sup>Footnote Reference\*</sup> |
| Closed-End Fund | 0.0%<sup>Footnote Reference\*</sup> |
| Warrant | 0.0%<sup>Footnote Reference\*</sup> |
| Short-Term Investments | 1.8% |
| Money Market Fund | 0.8% |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Position represents less than 0.05%. |

---

### Sector Allocation

### (% of Total Investments)

---

| | |
|:---|:---|
| Industrial | 22.0% |
| Consumer Non-cyclical | 18.5% |
| Financial | 14.8% |
| Consumer Cyclical | 11.2% |
| Exchange Traded Funds (ETFs) | 4.4% |
| Others | 26.5% |
| Short-Term Investments | 1.8% |
| Money Market Fund | 0.8% |
| Total | 100.0% |

---

## Material Fund Changes
There were no material changes to the Fund.

## Change in or Disagreements with Accountants
There were no changes to or disagreements with our accountant.

## Householding
If you wish to receive a copy of this document at a new address, please call 1-877-771-7979.

## Additional Information
If you wish to view additional information about the Fund, including its prospectus, financial statements, holdings and proxy voting information, please visit http://destinationsfunds.com/.

Phone: 1-877-771-7979

![Image](ia8e07e1e08970f1f049c6165.jpg)

#### Destinations Small-Mid Cap Equity Fund

#### Class I

#### Annual Shareholder Report - February 28, 2026

#### DSA-TSR-BC02-I

# Destinations Small-Mid Cap Equity Fund

# Class Z

# DSMZX

## Annual Shareholder Report - February 28, 2026
![Image](ia8e07e1e08970f1f049c6165.jpg)

This annual shareholder summary report contains important information about the Fund for the period of March 1, 2025 to February 28, 2026. You can find additional information about the Fund at http://destinationsfunds.com/. You can also request this information by calling 1-877-771-7979.

**Fund Overview** 

The Destinations Small-Mid Cap Equity Fund seeks to provide long-term capital appreciation and invests primarily in small- and mid-capitalization equity securities.

## What were the Fund's costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class name | **Cost of a $10,000 investment** | **Cost paid as a % of a $10,000 investment** |
| Class Z | $110 | 0.96% |

---

## How did the fund perform last year?
For the fiscal year ending February 28, 2026, Class Z returned 29.04% compared to a return of 21.97% for the Russell 2500 Index. Stock selection within the information technology and industrials sectors as well as underweight exposures to the financials and real estate sectors contributed positively to relative performance for the period. Detracting from the Fund's relative performance over the period was stock selection within the consumer staples and utilities sectors. An underweight to the materials sector also detracted from relative performance.

## Fund Performance
The following chart compares the value of a hypothetical $10,000 investment in the Destinations Small-Mid Cap Equity Fund Class Z from inception (July 16, 2018) to February 28, 2026 as compared with the Russell 2500 Index.

![A line chart as described in the following paragraph.](i7695789570a3ffe2ce4077b9.jpg)

---

| | | |
|:---|:---|:---|
| | **Class Z** | **Russell 2500 Index** |
| **Jul-18** | $10000 | $10000 |
| **Aug-18** | $10520 | $10354 |
| **Feb-19** | $9876 | $9707 |
| **Aug-19** | $10038 | $9614 |
| **Feb-20** | $9945 | $9532 |
| **Aug-20** | $10849 | $10267 |
| **Feb-21** | $15300 | $13907 |
| **Aug-21** | $16648 | $14976 |
| **Feb-22** | $15585 | $13962 |
| **Aug-22** | $14297 | $12648 |
| **Feb-23** | $14684 | $13205 |
| **Aug-23** | $14971 | $13488 |
| **Feb-24** | $16483 | $14823 |
| **Aug-24** | $17637 | $15832 |
| **Feb-25** | $17659 | $15954 |
| **Aug-25** | $19298 | $17421 |
| **Feb-26** | $22787 | $19460 |

---

The chart above represents historical performance of a hypothetical investment of $10,000 in the Fund from inception (July 16, 2018). The result of this chart does not predict the results of future time periods and does not guarantee the same results.

## Average Annual Total Returns (%)

## Key Fund Statistics

---

| | |
|:---|:---|
| Total Net Assets | $747103820 |
| Number of Portfolio Holdings | 2722 |
| Portfolio Turnover Rate | 124% |
| Advisory Fees Paid | $5534142 |

---

---

| | | | |
|:---|:---|:---|:---|
| Name | **1 Year** | **5 Years** | **Since Inception (07/16/2018)** |
| Class Z | 29.04%<sup>Footnote Reference\*</sup> | 8.29% | 11.36% |
| Russell 2500 Index | 21.97% | 6.95% | 9.09% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Includes the impact of proceeds received and credited to the Fund resulting from class action settlements, which enhanced the Fund's performance for the year ended February 28, 2026 by 0.03%. |

---

**The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Call 1-877-771-7979 for current performance questions.**

## What did the Fund invest in?
The Fund will invest in the equity securities of small- and mid-capitalization companies. The Fund defines small-mid cap companies as companies whose market capitalizations typically fall within the range of either the Russell Midcap Index or the Russell 2000 Index. The Fund may invest a portion of its assets in securities of micro-cap companies. The Fund invests in securities of companies operating in a broad range of industries. The Fund employs a multi-manager sub-advised structure. The Adviser may also invest a portion of the Fund's assets in shares of exchange-traded funds (ETFs).

### Asset Class Weightings

### (% of Total Investments)

---

| | |
|:---|:---|
| Common Stocks | 93.0% |
| Exchange Traded Funds (ETFs) | 4.4% |
| Limited Partnership | 0.0%<sup>Footnote Reference\*</sup> |
| Closed-End Fund | 0.0%<sup>Footnote Reference\*</sup> |
| Warrant | 0.0%<sup>Footnote Reference\*</sup> |
| Short-Term Investments | 1.8% |
| Money Market Fund | 0.8% |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Position represents less than 0.05%. |

---

### Sector Allocation

### (% of Total Investments)

---

| | |
|:---|:---|
| Industrial | 22.0% |
| Consumer Non-cyclical | 18.5% |
| Financial | 14.8% |
| Consumer Cyclical | 11.2% |
| Exchange Traded Funds (ETFs) | 4.4% |
| Others | 26.5% |
| Short-Term Investments | 1.8% |
| Money Market Fund | 0.8% |
| Total | 100.0% |

---

## Material Fund Changes
There were no material changes to the Fund.

## Change in or Disagreements with Accountants
There were no changes to or disagreements with our accountant.

## Householding
If you wish to receive a copy of this document at a new address, please call 1-877-771-7979.

## Additional Information
If you wish to view additional information about the Fund, including its prospectus, financial statements, holdings and proxy voting information, please visit http://destinationsfunds.com/.

Phone: 1-877-771-7979

![Image](ia8e07e1e08970f1f049c6165.jpg)

#### Destinations Small-Mid Cap Equity Fund

#### Class Z

#### Annual Shareholder Report - February 28, 2026

#### DSA-TSR-BC02-Z

# Destinations International Equity Fund

# Class I

# DIEFX

## Annual Shareholder Report - February 28, 2026
![Image](i187a383d085dabb050186edc.jpg)

This annual shareholder summary report contains important information about the Fund for the period of March 1, 2025 to February 28, 2026. You can find additional information about the Fund at http://destinationsfunds.com/. You can also request this information by calling 1-877-771-7979.

**Fund Overview** 

The Destinations International Equity Fund seeks long-term capital appreciation and invests in equity securities of foreign markets, including emerging and frontier markets, across market capitalizations.

## What were the Fund's costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class name | **Cost of a $10,000 investment** | **Cost paid as a % of a $10,000 investment** |
| Class I | $127 | 1.07% |

---

## How did the fund perform last year?
For the fiscal year ending February 28, 2026, Class I returned 38.30% compared to a return of 40.02% for the FTSE All-World ex US Index. From a sector perspective, stock selection within the industrials and energy sectors as well as underweight exposures to consumer discretionary and communication services were the largest positive contributors to relative performance. An underweight to information technology and stock selection within the health care and consumer staples sectors detracted from relative performance. From a geographical perspective, stock selection within Canada and Denmark contributed positively to relative performance. Contributing negatively to relative performance were an underweight to Taiwan and stock selection within the UK and Japan.

## Fund Performance
The following chart compares the value of a hypothetical $10,000 investment in the Destinations International Equity Fund Class I from inception (March 20, 2017) to February 28, 2026 as compared with the FTSE All-World ex US Index.

![A line chart as described in the following paragraph.](i28bad7634efcc6928369e588.jpg)

---

| | | |
|:---|:---|:---|
| | **Class I** | **FTSE All-World ex US Index** |
| **Mar-17** | $10000 | $10000 |
| **Aug-17** | $11050 | $10942 |
| **Feb-18** | $11770 | $11795 |
| **Aug-18** | $11509 | $11306 |
| **Feb-19** | $11098 | $11009 |
| **Aug-19** | $11415 | $10926 |
| **Feb-20** | $11644 | $10948 |
| **Aug-20** | $13662 | $11866 |
| **Feb-21** | $15561 | $13880 |
| **Aug-21** | $16468 | $14900 |
| **Feb-22** | $14261 | $13899 |
| **Aug-22** | $12128 | $12049 |
| **Feb-23** | $12967 | $12901 |
| **Aug-23** | $13631 | $13473 |
| **Feb-24** | $14373 | $14539 |
| **Aug-24** | $15771 | $15903 |
| **Feb-25** | $15515 | $15894 |
| **Aug-25** | $17852 | $18378 |
| **Feb-26** | $21457 | $22255 |

---

The chart above represents historical performance of a hypothetical investment of $10,000 in the Fund from inception (March 20, 2017). The result of this chart does not predict the results of future time periods and does not guarantee the same results.

## Average Annual Total Returns (%)

## Key Fund Statistics

---

| | |
|:---|:---|
| Total Net Assets | $2183733254 |
| Number of Portfolio Holdings | 1728 |
| Portfolio Turnover Rate | 54% |
| Advisory Fees Paid | $15365689 |

---

---

| | | | |
|:---|:---|:---|:---|
| Name | **1 Year** | **5 Years** | **Since Inception (03/20/2017)** |
| Class I | 38.30%<sup>Footnote Reference\*</sup> | 6.64% | 8.87% |
| FTSE All-World ex US Index | 40.02% | 9.90% | 9.33% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Includes the impact of payment from Sub-adviser, which enhanced the Fund's performance for the year ended February 28, 2026 by 0.03%. |

---

**The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Call 1-877-771-7979 for current performance questions.**

## What did the Fund invest in?
The Fund will invest primarily in foreign equity securities, including emerging market and frontier market equity securities, of any capitalization. The Fund employs a multi-manager sub-advised structure. The Adviser may also invest a portion of the Fund's assets in shares of exchange-traded funds (ETFs).

#### Sector Allocation

#### (% of Total Investments)

---

| | |
|:---|:---|
| Financial | 20.8% |
| Industrial | 19.7% |
| Consumer Non-cyclical | 12.0% |
| Technology | 10.3% |
| Exchange Traded Funds (ETFs) | 6.9% |
| Others | 28.3% |
| Short-Term Investments | 1.3% |
| Money Market Fund | 0.7% |
| Total | 100.0% |

---

#### Country Weightings

#### (% of Total Investments)

---

| | |
|:---|:---|
| Japan | 14.5% |
| United Kingdom | 9.3% |
| United States | 8.0% |
| Canada | 6.6% |
| France | 6.2% |
| Others | 53.4% |
| Short-Term Investments | 1.3% |
| Money Market Fund | 0.7% |
| Total | 100.0% |

---

#### Asset Class Weightings

#### (% of Total Investments)

---

| | |
|:---|:---|
| Common Stocks | 90.8% |
| Exchange Traded Funds (ETFs) | 6.9% |
| Preferred Stocks | 0.3% |
| Warrants | 0.0%<sup>Footnote Reference\*</sup> |
| Short-Term Investments | 1.3% |
| Money Market Fund | 0.7% |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Position represents less than 0.05%. |

---

## Material Fund Changes
There were no material changes to the Fund.

## Change in or Disagreements with Accountants
There were no changes to or disagreements with our accountant.

## Householding
If you wish to receive a copy of this document at a new address, please call 1-877-771-7979.

## Additional Information
If you wish to view additional information about the Fund, including its prospectus, financial statements, holdings and proxy voting information, please visit http://destinationsfunds.com/.

Phone: 1-877-771-7979

![Image](i187a383d085dabb050186edc.jpg)

#### Destinations International Equity Fund

#### Class I

#### Annual Shareholder Report - February 28, 2026

#### DSA-TSR-BC04-I

# Destinations International Equity Fund

# Class Z

# DIEZX

## Annual Shareholder Report - February 28, 2026
![Image](i187a383d085dabb050186edc.jpg)

This annual shareholder summary report contains important information about the Fund for the period of March 1, 2025 to February 28, 2026. You can find additional information about the Fund at http://destinationsfunds.com/. You can also request this information by calling 1-877-771-7979.

**Fund Overview** 

The Destinations International Equity Fund seeks long-term capital appreciation and invests in equity securities of foreign markets, including emerging and frontier markets, across market capitalizations.

## What were the Fund's costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class name | **Cost of a $10,000 investment** | **Cost paid as a % of a $10,000 investment** |
| Class Z | $109 | 0.91% |

---

## How did the fund perform last year?
For the fiscal year ending February 28, 2026, Class Z returned 38.52% compared to a return of 40.02% for the FTSE All-World ex US Index. From a sector perspective, stock selection within the industrials and energy sectors as well as underweight exposures to consumer discretionary and communication services were the largest positive contributors to relative performance. An underweight to information technology and stock selection within the health care and consumer staples sectors detracted from relative performance. From a geographical perspective, stock selection within Canada and Denmark contributed positively to relative performance. Contributing negatively to relative performance were an underweight to Taiwan and stock selection within the UK and Japan.

## Fund Performance
The following chart compares the value of a hypothetical $10,000 investment in the Destinations International Equity Fund Class Z from inception (July 16, 2018) to February 28, 2026 as compared with the FTSE All-World ex US Index.

![A line chart as described in the following paragraph.](ie4cc68a78d57cbdfd58396d8.jpg)

---

| | | |
|:---|:---|:---|
| | **Class Z** | **FTSE All-World ex US Index** |
| **Jul-18** | $10000 | $10000 |
| **Aug-18** | $10000 | $9968 |
| **Feb-19** | $9657 | $9706 |
| **Aug-19** | $9942 | $9633 |
| **Feb-20** | $10145 | $9652 |
| **Aug-20** | $11925 | $10462 |
| **Feb-21** | $13585 | $12237 |
| **Aug-21** | $14389 | $13136 |
| **Feb-22** | $12476 | $12254 |
| **Aug-22** | $10607 | $10623 |
| **Feb-23** | $11356 | $11374 |
| **Aug-23** | $11951 | $11879 |
| **Feb-24** | $12612 | $12818 |
| **Aug-24** | $13842 | $14021 |
| **Feb-25** | $13630 | $14013 |
| **Aug-25** | $15696 | $16202 |
| **Feb-26** | $18881 | $19621 |

---

The chart above represents historical performance of a hypothetical investment of $10,000 in the Fund from inception (July 16, 2018). The result of this chart does not predict the results of future time periods and does not guarantee the same results.

## Average Annual Total Returns (%)

## Key Fund Statistics

---

| | |
|:---|:---|
| Total Net Assets | $2183733254 |
| Number of Portfolio Holdings | 1728 |
| Portfolio Turnover Rate | 54% |
| Advisory Fees Paid | $15365689 |

---

---

| | | | |
|:---|:---|:---|:---|
| Name | **1 Year** | **5 Years** | **Since Inception (07/16/2018)** |
| Class Z | 38.52%<sup>Footnote Reference\*</sup> | 6.81% | 8.66% |
| FTSE All-World ex US Index | 40.02% | 9.90% | 9.19% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Includes the impact of payment from Sub-adviser, which enhanced the Fund's performance for the year ended February 28, 2026 by 0.03%. |

---

**The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Call 1-877-771-7979 for current performance questions.**

## What did the Fund invest in?
The Fund will invest primarily in foreign equity securities, including emerging market and frontier market equity securities, of any capitalization. The Fund employs a multi-manager sub-advised structure. The Adviser may also invest a portion of the Fund's assets in shares of exchange-traded funds (ETFs).

#### Sector Allocation

#### (% of Total Investments)

---

| | |
|:---|:---|
| Financial | 20.8% |
| Industrial | 19.7% |
| Consumer Non-cyclical | 12.0% |
| Technology | 10.3% |
| Exchange Traded Funds (ETFs) | 6.9% |
| Others | 28.3% |
| Short-Term Investments | 1.3% |
| Money Market Fund | 0.7% |
| Total | 100.0% |

---

#### Country Weightings

#### (% of Total Investments)

---

| | |
|:---|:---|
| Japan | 14.5% |
| United Kingdom | 9.3% |
| United States | 8.0% |
| Canada | 6.6% |
| France | 6.2% |
| Others | 53.4% |
| Short-Term Investments | 1.3% |
| Money Market Fund | 0.7% |
| Total | 100.0% |

---

#### Asset Class Weightings

#### (% of Total Investments)

---

| | |
|:---|:---|
| Common Stocks | 90.8% |
| Exchange Traded Funds (ETFs) | 6.9% |
| Preferred Stocks | 0.3% |
| Warrants | 0.0%<sup>Footnote Reference\*</sup> |
| Short-Term Investments | 1.3% |
| Money Market Fund | 0.7% |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Position represents less than 0.05%. |

---

## Material Fund Changes
There were no material changes to the Fund.

## Change in or Disagreements with Accountants
There were no changes to or disagreements with our accountant.

## Householding
If you wish to receive a copy of this document at a new address, please call 1-877-771-7979.

## Additional Information
If you wish to view additional information about the Fund, including its prospectus, financial statements, holdings and proxy voting information, please visit http://destinationsfunds.com/.

Phone: 1-877-771-7979

![Image](i187a383d085dabb050186edc.jpg)

#### Destinations International Equity Fund

#### Class Z

#### Annual Shareholder Report - February 28, 2026

#### DSA-TSR-BC04-Z

# Destinations Equity Income Fund

# Class I

# DGEFX

## Annual Shareholder Report - February 28, 2026
![Image](ia8e07e1e08970f1f049c6165.jpg)

This annual shareholder summary report contains important information about the Fund for the period of March 1, 2025 to February 28, 2026. You can find additional information about the Fund at http://destinationsfunds.com/. You can also request this information by calling 1-877-771-7979.

**Fund Overview** 

The Destinations Equity Income Fund seeks to provide a high level of current income with long-term capital appreciation, investing primarily in dividend-paying equity securities.

## What were the Fund's costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class name | **Cost of a $10,000 investment** | **Cost paid as a % of a $10,000 investment** |
| Class I | $109 | 0.97% |

---

## How did the fund perform last year?
For the fiscal year ending February 28, 2026, Class I returned 23.72% compared to a return of 23.61% for the FTSE All World Developed Index and 32.27% for the FTSE All-World High Dividend Yield Index. An underweight to the consumer discretionary sector and overweight exposure to utilities as well as an underweight to Denmark contributed positively to relative performance for the period. Stock selection within the financials, information technology, and health care sectors also contributed positively. Detracting from relative performance were underweight exposures to the information technology sector and to South Korea and Japan as well as stock selection within the utilities sector.

## Fund Performance
The following chart compares the value of a hypothetical $10,000 investment in the Destinations Equity Income Fund Class I from inception (March 20, 2017) to February 28, 2026 as compared with the FTSE All World Developed Index and the FTSE All-World High Dividend Yield Index.

![A line chart as described in the following paragraph.](i4db116531b47c8cb93611735.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class I** | **FTSE All World Developed Index** | **FTSE All-World High Dividend Yield Index** |
| **Mar-17** | $10000 | $10000 | $10000 |
| **Aug-17** | $10146 | $10660 | $10546 |
| **Feb-18** | $10435 | $11625 | $11184 |
| **Aug-18** | $10934 | $12023 | $10962 |
| **Feb-19** | $11220 | $11607 | $10866 |
| **Aug-19** | $11380 | $11986 | $10762 |
| **Feb-20** | $11132 | $12115 | $10546 |
| **Aug-20** | $11073 | $14014 | $10691 |
| **Feb-21** | $12286 | $15716 | $12419 |
| **Aug-21** | $14014 | $18165 | $13762 |
| **Feb-22** | $14705 | $17275 | $13990 |
| **Aug-22** | $13927 | $15360 | $12683 |
| **Feb-23** | $14583 | $15988 | $13569 |
| **Aug-23** | $14618 | $17742 | $14016 |
| **Feb-24** | $15458 | $19925 | $15119 |
| **Aug-24** | $17460 | $22025 | $16796 |
| **Feb-25** | $18405 | $22924 | $17281 |
| **Aug-25** | $19783 | $25490 | $19226 |
| **Feb-26** | $22771 | $28336 | $22858 |

---

The chart above represents historical performance of a hypothetical investment of $10,000 in the Fund from inception (March 20, 2017). The result of this chart does not predict the results of future time periods and does not guarantee the same results.

## Average Annual Total Returns (%)

## Key Fund Statistics

---

| | |
|:---|:---|
| Total Net Assets | $517446475 |
| Number of Portfolio Holdings | 166 |
| Portfolio Turnover Rate | 62% |
| Advisory Fees Paid | $3301491 |

---

---

| | | | |
|:---|:---|:---|:---|
| Name | **1 Year** | **5 Years** | **Since Inception (03/20/2017)** |
| Class I | 23.72%<sup>Footnote Reference\*</sup> | 13.13% | 9.60% |
| FTSE All World Developed Index | 23.61% | 12.51% | 12.28% |
| FTSE All-World High Dividend Yield Index | 32.27% | 12.98% | 9.64% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Includes the impact of proceeds received and credited to the Fund resulting from class action settlements, which enhanced the Fund's performance for the year ended February 28, 2026 by 0.01%. |

---

**The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Call 1-877-771-7979 for current performance questions.** 

## What did the Fund invest in?
The Fund will invest in dividend-paying securities of both U.S.-based and foreign companies. The Fund invests primarily in common stock, preferred stock, interests in Real Estate Investment Trusts (REITs), foreign securities, American Depositary Receipts (ADRs) and equity-linked notes that are believed to be attractively valued and to have the potential for long-term growth. The Fund employs a multi manager sub-advised structure. The Adviser may also invest a portion of the Fund's assets in shares of exchange-traded funds (ETFs).

### Asset Class Weightings

### (% of Total Investments)

---

| | |
|:---|:---|
| Common Stocks | 82.5% |
| Exchange Traded Funds (ETFs) | 13.2% |
| Limited Partnership | 0.5% |
| Convertible Preferred Stock | 0.4% |
| Short-Term Investments | 3.4% |
| Money Market Fund | 0.0%<sup>Footnote Reference\*</sup> |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Position represents less than 0.05%. |

---

### Sector Allocation

### (% of Total Investments)

---

| | |
|:---|:---|
| Financial | 19.8% |
| Consumer Non-cyclical | 17.1% |
| Utilities | 10.3% |
| Energy | 9.9% |
| Exchange Traded Funds (ETFs) | 13.2% |
| Others | 26.3% |
| Short-Term Investments | 3.4% |
| Money Market Fund | 0.0%<sup>Footnote Reference\*</sup> |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Position represents less than 0.05%. |

---

## Material Fund Changes
There were no material changes to the Fund.

## Change in or Disagreements with Accountants
There were no changes to or disagreements with our accountant.

## Householding
If you wish to receive a copy of this document at a new address, please call 1-877-771-7979.

## Additional Information
If you wish to view additional information about the Fund, including its prospectus, financial statements, holdings and proxy voting information, please visit http://destinationsfunds.com/.

Phone: 1-877-771-7979

![Image](ia8e07e1e08970f1f049c6165.jpg)

#### Destinations Equity Income Fund

#### Class I

#### Annual Shareholder Report - February 28, 2026

#### DSA-TSR-BC03-I

# Destinations Equity Income Fund

# Class Z

# DGEZX

## Annual Shareholder Report - February 28, 2026
![Image](ia8e07e1e08970f1f049c6165.jpg)

This annual shareholder summary report contains important information about the Fund for the period of March 1, 2025 to February 28, 2026. You can find additional information about the Fund at http://destinationsfunds.com/. You can also request this information by calling 1-877-771-7979.

**Fund Overview** 

The Destinations Equity Income Fund seeks to provide a high level of current income with long-term capital appreciation, investing primarily in dividend-paying equity securities.

## What were the Fund's costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class name | **Cost of a $10,000 investment** | **Cost paid as a % of a $10,000 investment** |
| Class Z | $92 | 0.82% |

---

## How did the fund perform last year?
For the fiscal year ending February 28, 2026, Class Z returned 23.91% compared to a return of 23.61% for the FTSE All World Developed Index and 32.27% for the FTSE All-World High Dividend Yield Index. An underweight to the consumer discretionary sector and overweight exposure to utilities as well as an underweight to Denmark contributed positively to relative performance for the period. Stock selection within the financials, information technology, and health care sectors also contributed positively. Detracting from relative performance were underweight exposures to the information technology sector and to South Korea and Japan as well as stock selection within the utilities sector.

## Fund Performance
The following chart compares the value of a hypothetical $10,000 investment in the Destinations Equity Income Fund Class Z from inception (July 16, 2018) to February 28, 2026 as compared with the FTSE All World Developed Index and the FTSE All-World High Dividend Yield Index.

![A line chart as described in the following paragraph.](i0a5b8e6af6199b0823c7d04f.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class Z** | **FTSE All World Developed Index** | **FTSE All-World High Dividend Yield Index** |
| **Jul-18** | $10000 | $10000 | $10000 |
| **Aug-18** | $10190 | $10217 | $10104 |
| **Feb-19** | $10451 | $9863 | $10016 |
| **Aug-19** | $10621 | $10185 | $9920 |
| **Feb-20** | $10390 | $10295 | $9720 |
| **Aug-20** | $10338 | $11908 | $9854 |
| **Feb-21** | $11495 | $13355 | $11447 |
| **Aug-21** | $13112 | $15436 | $12686 |
| **Feb-22** | $13772 | $14679 | $12895 |
| **Aug-22** | $13050 | $13052 | $11690 |
| **Feb-23** | $13671 | $13586 | $12508 |
| **Aug-23** | $13725 | $15076 | $12919 |
| **Feb-24** | $14514 | $16931 | $13936 |
| **Aug-24** | $16420 | $18716 | $15482 |
| **Feb-25** | $17316 | $19479 | $15929 |
| **Aug-25** | $18630 | $21660 | $17721 |
| **Feb-26** | $21456 | $24078 | $21070 |

---

The chart above represents historical performance of a hypothetical investment of $10,000 in the Fund from inception (July 16, 2018). The result of this chart does not predict the results of future time periods and does not guarantee the same results.

## Average Annual Total Returns (%)

## Key Fund Statistics

---

| | |
|:---|:---|
| Total Net Assets | $517446475 |
| Number of Portfolio Holdings | 166 |
| Portfolio Turnover Rate | 62% |
| Advisory Fees Paid | $3301491 |

---

---

| | | | |
|:---|:---|:---|:---|
| Name | **1 Year** | **5 Years** | **Since Inception (07/16/2018)** |
| Class Z | 23.91%<sup>Footnote Reference\*</sup> | 13.29% | 10.57% |
| FTSE All World Developed Index | 23.61% | 12.51% | 12.15% |
| FTSE All-World High Dividend Yield Index | 32.27% | 12.98% | 10.21% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Includes the impact of proceeds received and credited to the Fund resulting from class action settlements, which enhanced the Fund's performance for the year ended February 28, 2026 by 0.01%. |

---

**The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Call 1-877-771-7979 for current performance questions.** 

## What did the Fund invest in?
The Fund will invest in dividend-paying securities of both U.S.-based and foreign companies. The Fund invests primarily in common stock, preferred stock, interests in Real Estate Investment Trusts (REITs), foreign securities, American Depositary Receipts (ADRs) and equity-linked notes that are believed to be attractively valued and to have the potential for long-term growth. The Fund employs a multi manager sub-advised structure. The Adviser may also invest a portion of the Fund's assets in shares of exchange-traded funds (ETFs).

### Asset Class Weightings

### (% of Total Investments)

---

| | |
|:---|:---|
| Common Stocks | 82.5% |
| Exchange Traded Funds (ETFs) | 13.2% |
| Limited Partnership | 0.5% |
| Convertible Preferred Stock | 0.4% |
| Short-Term Investments | 3.4% |
| Money Market Fund | 0.0%<sup>Footnote Reference\*</sup> |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Position represents less than 0.05%. |

---

### Sector Allocation

### (% of Total Investments)

---

| | |
|:---|:---|
| Financial | 19.8% |
| Consumer Non-cyclical | 17.1% |
| Utilities | 10.3% |
| Energy | 9.9% |
| Exchange Traded Funds (ETFs) | 13.2% |
| Others | 26.3% |
| Short-Term Investments | 3.4% |
| Money Market Fund | 0.0%<sup>Footnote Reference\*</sup> |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Position represents less than 0.05%. |

---

## Material Fund Changes
There were no material changes to the Fund.

## Change in or Disagreements with Accountants
There were no changes to or disagreements with our accountant.

## Householding
If you wish to receive a copy of this document at a new address, please call 1-877-771-7979.

## Additional Information
If you wish to view additional information about the Fund, including its prospectus, financial statements, holdings and proxy voting information, please visit http://destinationsfunds.com/.

Phone: 1-877-771-7979

![Image](ia8e07e1e08970f1f049c6165.jpg)

#### Destinations Equity Income Fund

#### Class Z

#### Annual Shareholder Report - February 28, 2026

#### DSA-TSR-BC03-Z

# Destinations Core Fixed Income Fund

# Class I

# DCFFX

## Annual Shareholder Report - February 28, 2026
![Image](i005ae9a063728c2ac287515c.jpg)

This annual shareholder summary report contains important information about the Fund for the period of March 1, 2025 to February 28, 2026. You can find additional information about the Fund at http://destinationsfunds.com/. You can also request this information by calling 1-877-771-7979.

**Fund Overview** 

The Destinations Core Fixed Income Fund seeks to maximize current income and total return, investing primarily in investment grade multi-sector fixed income securities.

## What were the Fund's costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class name | **Cost of a $10,000 investment** | **Cost paid as a % of a $10,000 investment** |
| Class I | $89 | 0.87% |

---

## How did the fund perform last year?
For the fiscal year ending February 28, 2026, Class I returned 5.62% compared to a return of 6.23% for the ICE BofA US Broad Market Index. The Fund's overweight exposure to ABS and CMBS as well as underweight exposure to Treasuries contributed positively to relative performance for the period. Security selection within corporate credit also benefited performance. Detracting from relative performance was an underweight to investment grade corporates as well as an overweight to the long end of the Treasury curve.

## Fund Performance
The following chart compares the value of a hypothetical $10,000 investment in the Destinations Core Fixed Income Fund Class I from inception (March 20, 2017) to February 28, 2026 as compared with the ICE BofA US Broad Market Index.

![A line chart as described in the following paragraph.](i885fb71ccd7f95e717eaea1a.jpg)

---

| | | |
|:---|:---|:---|
| | **Class I** | **ICE BofA US Broad Market Index** |
| **Mar-17** | $10000 | $10000 |
| **Aug-17** | $10221 | $10334 |
| **Feb-18** | $10034 | $10107 |
| **Aug-18** | $10124 | $10225 |
| **Feb-19** | $10312 | $10431 |
| **Aug-19** | $10931 | $11298 |
| **Feb-20** | $11238 | $11680 |
| **Aug-20** | $11350 | $12025 |
| **Feb-21** | $11244 | $11783 |
| **Aug-21** | $11388 | $12008 |
| **Feb-22** | $10938 | $11506 |
| **Aug-22** | $10044 | $10624 |
| **Feb-23** | $9824 | $10381 |
| **Aug-23** | $9898 | $10482 |
| **Feb-24** | $10159 | $10732 |
| **Aug-24** | $10666 | $11253 |
| **Feb-25** | $10799 | $11359 |
| **Aug-25** | $10969 | $11607 |
| **Feb-26** | $11406 | $12067 |

---

The chart above represents historical performance of a hypothetical investment of $10,000 in the Fund from inception (March 20, 2017). The result of this chart does not predict the results of future time periods and does not guarantee the same results.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| Name | **1 Year** | **5 Years** | **Since Inception (03/20/2017)** |
| Class I | 5.62% | 0.29% | 1.48% |
| ICE BofA US Broad Market Index | 6.23% | 0.47% | 2.13% |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| Total Net Assets | $1511160055 |
| Number of Portfolio Holdings | 1942 |
| Portfolio Turnover Rate | 167% |
| Advisory Fees Paid | $9679492 |

---

**The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Call 1-877-771-7979 for current performance questions.**

## What did the Fund invest in?
The Fund will invest in fixed income instruments. The Fund invests primarily in bonds and other fixed income instruments issued by governmental or private-sector entities, including mortgage-backed securities, asset-backed securities, investment grade corporate bonds, junk bonds, bank loans, loan participations, assignments, derivatives, credit default swaps, inverse floater securities, interest-only and principal-only securities and money market instruments. The Fund employs a multi-manager sub advised structure. The Adviser may also invest a portion of the Fund's assets in shares of exchange traded funds (ETFs).

### Asset Class Weightings

### (% of Total Investments)

---

| | |
|:---|:---|
| U.S. Government Agencies & Obligations | 27.7% |
| Mortgage-Backed Securities | 21.6% |
| Collateralized Mortgage Obligations | 17.7% |
| Corporate Bonds & Notes | 17.0% |
| Asset-Backed Securities | 9.3% |
| Others | 4.3% |
| Short-Term Investments | 2.4% |
| Money Market Fund | 0.0%<sup>Footnote Reference\*</sup> |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Position represents less than 0.05%. |

---

## Material Fund Changes
There were no material changes to the Fund.

## Change in or Disagreements with Accountants
There were no changes to or disagreements with our accountant.

## Householding
If you wish to receive a copy of this document at a new address, please call 1-877-771-7979.

## Additional Information
If you wish to view additional information about the Fund, including its prospectus, financial statements, holdings and proxy voting information, please visit http://destinationsfunds.com/.

Phone: 1-877-771-7979

![Image](i005ae9a063728c2ac287515c.jpg)

#### Destinations Core Fixed Income Fund

#### Class I

#### Annual Shareholder Report - February 28, 2026

#### DSA-TSR-BC06-I

# Destinations Core Fixed Income Fund

# Class Z

# DCFZX

## Annual Shareholder Report - February 28, 2026
![Image](i005ae9a063728c2ac287515c.jpg)

This annual shareholder summary report contains important information about the Fund for the period of March 1, 2025 to February 28, 2026. You can find additional information about the Fund at http://destinationsfunds.com/. You can also request this information by calling 1-877-771-7979.

**Fund Overview** 

The Destinations Core Fixed Income Fund seeks to maximize current income and total return, investing primarily in investment grade multi-sector fixed income securities.

## What were the Fund's costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class name | **Cost of a $10,000 investment** | **Cost paid as a % of a $10,000 investment** |
| Class Z | $74 | 0.72% |

---

## How did the fund perform last year?
For the fiscal year ending February 28, 2026, Class Z returned 5.84% compared to a return of 6.23% for the ICE BofA US Broad Market Index. The Fund's overweight exposure to ABS and CMBS as well as underweight exposure to Treasuries contributed positively to relative performance for the period. Security selection within corporate credit also benefited performance. Detracting from relative performance was an underweight to investment grade corporates as well as an overweight to the long end of the Treasury curve.

## Fund Performance
The following chart compares the value of a hypothetical $10,000 investment in the Destinations Core Fixed Income Fund Class Z from inception (July 16, 2018) to February 28, 2026 as compared with the ICE BofA US Broad Market Index.

![A line chart as described in the following paragraph.](i0f918b6a291a1983af2f66ec.jpg)

---

| | | |
|:---|:---|:---|
| | **Class Z** | **ICE BofA US Broad Market Index** |
| **Jul-18** | $10000 | $10000 |
| **Aug-18** | $10030 | $10037 |
| **Feb-19** | $10229 | $10239 |
| **Aug-19** | $10846 | $11090 |
| **Feb-20** | $11161 | $11465 |
| **Aug-20** | $11278 | $11803 |
| **Feb-21** | $11180 | $11566 |
| **Aug-21** | $11339 | $11787 |
| **Feb-22** | $10901 | $11294 |
| **Aug-22** | $10008 | $10429 |
| **Feb-23** | $9790 | $10190 |
| **Aug-23** | $9879 | $10289 |
| **Feb-24** | $10140 | $10535 |
| **Aug-24** | $10663 | $11046 |
| **Feb-25** | $10800 | $11150 |
| **Aug-25** | $10985 | $11393 |
| **Feb-26** | $11430 | $11845 |

---

The chart above represents historical performance of a hypothetical investment of $10,000 in the Fund from inception (July 16, 2018). The result of this chart does not predict the results of future time periods and does not guarantee the same results.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| Name | **1 Year** | **5 Years** | **Since Inception (07/16/2018)** |
| Class Z | 5.84% | 0.44% | 1.76% |
| ICE BofA US Broad Market Index | 6.23% | 0.47% | 2.22% |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| Total Net Assets | $1511160055 |
| Number of Portfolio Holdings | 1942 |
| Portfolio Turnover Rate | 167% |
| Advisory Fees Paid | $9679492 |

---

**The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Call 1-877-771-7979 for current performance questions.**

## What did the Fund invest in?
The Fund will invest in fixed income instruments. The Fund invests primarily in bonds and other fixed income instruments issued by governmental or private-sector entities, including mortgage-backed securities, asset-backed securities, investment grade corporate bonds, junk bonds, bank loans, loan participations, assignments, derivatives, credit default swaps, inverse floater securities, interest-only and principal-only securities and money market instruments. The Fund employs a multi-manager sub advised structure. The Adviser may also invest a portion of the Fund's assets in shares of exchange traded funds (ETFs).

### Asset Class Weightings

### (% of Total Investments)

---

| | |
|:---|:---|
| U.S. Government Agencies & Obligations | 27.7% |
| Mortgage-Backed Securities | 21.6% |
| Collateralized Mortgage Obligations | 17.7% |
| Corporate Bonds & Notes | 17.0% |
| Asset-Backed Securities | 9.3% |
| Others | 4.3% |
| Short-Term Investments | 2.4% |
| Money Market Fund | 0.0%<sup>Footnote Reference\*</sup> |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Position represents less than 0.05%. |

---

## Material Fund Changes
There were no material changes to the Fund.

## Change in or Disagreements with Accountants
There were no changes to or disagreements with our accountant.

## Householding
If you wish to receive a copy of this document at a new address, please call 1-877-771-7979.

## Additional Information
If you wish to view additional information about the Fund, including its prospectus, financial statements, holdings and proxy voting information, please visit http://destinationsfunds.com/.

Phone: 1-877-771-7979

![Image](i005ae9a063728c2ac287515c.jpg)

#### Destinations Core Fixed Income Fund

#### Class Z

#### Annual Shareholder Report - February 28, 2026

#### DSA-TSR-BC06-Z

# Destinations Low Duration Fixed Income Fund

# Class I

# DLDFX

## Annual Shareholder Report - February 28, 2026
![Image](i026f13b82d056cefedbbe983.jpg)

This annual shareholder summary report contains important information about the Fund for the period of March 1, 2025 to February 28, 2026. You can find additional information about the Fund at http://destinationsfunds.com/. You can also request this information by calling 1-877-771-7979.

**Fund Overview** 

The Destinations Low Duration Fixed Income Fund seeks current income and invests in multi-sector fixed income, investment-grade corporate credit, high yield corporate credit and low duration securities.

## What were the Fund's costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class name | **Cost of a $10,000 investment** | **Cost paid as a % of a $10,000 investment** |
| Class I | $102 | 0.99% |

---

## How did the fund perform last year?
For the fiscal year ending February 28, 2026, Class I returned 6.46% compared to a return of 6.23% for the ICE BofA US Broad Market Index and 4.91% for the ICE BofA US Corporate & Government (1-3 Yr) Index. A significant tilt toward corporate credit and the resulting underweight to Treasury securities were positive contributors to relative performance. Additionally, security selection within floating rate notes contributed positively to Fund performance for the period. Detracting from relative performance was security selection within corporate credit and curve positioning within the Treasury allocation.

## Fund Performance
The following chart compares the value of a hypothetical $10,000 investment in the Destinations Low Duration Fixed Income Fund Class I from inception (March 20, 2017) to February 28, 2026 as compared with the ICE BofA US Broad Market Index and the ICE BofA US Corporate & Government (1-3 Yr) Index.

![A line chart as described in the following paragraph.](ic99d3db3c0386f24912cd1df.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class I** | **ICE BofA US Broad Market Index** | **ICE BofA US Corporate & Government (1-3 Yr) Index** |
| **Mar-17** | $10000 | $10000 | $10000 |
| **Aug-17** | $10080 | $10334 | $10089 |
| **Feb-18** | $10152 | $10107 | $10025 |
| **Aug-18** | $10304 | $10225 | $10111 |
| **Feb-19** | $10434 | $10431 | $10280 |
| **Aug-19** | $10623 | $11298 | $10580 |
| **Feb-20** | $10705 | $11680 | $10781 |
| **Aug-20** | $10616 | $12025 | $10968 |
| **Feb-21** | $11073 | $11783 | $10991 |
| **Aug-21** | $11394 | $12008 | $11018 |
| **Feb-22** | $11449 | $11506 | $10822 |
| **Aug-22** | $11225 | $10624 | $10573 |
| **Feb-23** | $11492 | $10381 | $10542 |
| **Aug-23** | $11786 | $10482 | $10741 |
| **Feb-24** | $12360 | $10732 | $11031 |
| **Aug-24** | $12798 | $11253 | $11416 |
| **Feb-25** | $13086 | $11359 | $11645 |
| **Aug-25** | $13412 | $11607 | $11948 |
| **Feb-26** | $13931 | $12067 | $12217 |

---

The chart above represents historical performance of a hypothetical investment of $10,000 in the Fund from inception (March 20, 2017). The result of this chart does not predict the results of future time periods and does not guarantee the same results.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| Name | **1 Year** | **5 Years** | **Since Inception (03/20/2017)** |
| Class I | 6.46% | 4.70% | 3.78% |
| ICE BofA US Broad Market Index | 6.23% | 0.47% | 2.13% |
| ICE BofA US Corporate & Government (1-3 Yr) Index | 4.91% | 2.14% | 2.26% |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| Total Net Assets | $274556899 |
| Number of Portfolio Holdings | 498 |
| Portfolio Turnover Rate | 76% |
| Advisory Fees Paid | $1892981 |

---

**The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Call 1-877-771-7979 for current performance questions.**

## What did the Fund invest in?
The Fund invests primarily in bonds and other fixed income instruments issued by governmental or private-sector entities, including mortgage-backed securities, asset-backed securities, investment grade corporate bonds, junk bonds, bank loans and money market instruments. The Fund will normally be constructed with an average total portfolio duration of three years or less. The Fund employs a multi-manager sub-advised structure. The Adviser may also invest a portion of the Fund's assets in shares of exchange-traded funds (ETFs).

### Asset Class Weightings

### (% of Total Investments)

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 33.3% |
| Exchange Traded Fund (ETF) | 12.5% |
| Collateralized Mortgage Obligations | 11.5% |
| U.S. Government Agencies & Obligations | 10.0% |
| Common Stocks | 6.0% |
| Others | 14.3% |
| Short-Term Investments | 11.0% |
| Money Market Fund | 1.4% |
| Total | 100.0% |

---

#### Sector Allocation

#### (% of Total Investments)

---

| | |
|:---|:---|
| Mortgage Securities | 14.7% |
| Government | 10.0% |
| Consumer Non-cyclical | 9.4% |
| Asset Backed Securities | 7.3% |
| Exchange Traded Fund (ETF) | 12.5% |
| Others | 33.7% |
| Short-Term Investments | 11.0% |
| Money Market Fund | 1.4% |
| Total | 100.0% |

---

## Material Fund Changes
There were no material changes to the Fund.

## Change in or Disagreements with Accountants
There were no changes to or disagreements with our accountant.

## Householding
If you wish to receive a copy of this document at a new address, please call 1-877-771-7979.

## Additional Information
If you wish to view additional information about the Fund, including its prospectus, financial statements, holdings and proxy voting information, please visit http://destinationsfunds.com/.

Phone: 1-877-771-7979

![Image](i026f13b82d056cefedbbe983.jpg)

#### Destinations Low Duration Fixed Income Fund

#### Class I

#### Annual Shareholder Report - February 28, 2026

#### DSA-TSR-BC07-I

# Destinations Low Duration Fixed Income Fund

# Class Z

# DLDZX

## Annual Shareholder Report - February 28, 2026
![Image](i026f13b82d056cefedbbe983.jpg)

This annual shareholder summary report contains important information about the Fund for the period of March 1, 2025 to February 28, 2026. You can find additional information about the Fund at http://destinationsfunds.com/. You can also request this information by calling 1-877-771-7979.

**Fund Overview** 

The Destinations Low Duration Fixed Income Fund seeks current income and invests in multi-sector fixed income, investment-grade corporate credit, high yield corporate credit and low duration securities.

## What were the Fund's costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class name | **Cost of a $10,000 investment** | **Cost paid as a % of a $10,000 investment** |
| Class Z | $87 | 0.84% |

---

## How did the fund perform last year?
For the fiscal year ending February 28, 2026, Class Z returned 6.63% compared to a return of 6.23% for the ICE BofA US Broad Market Index and 4.91% for the ICE BofA US Corporate & Government (1-3 Yr) Index. A significant tilt toward corporate credit and the resulting underweight to Treasury securities were positive contributors to relative performance. Additionally, security selection within floating rate notes contributed positively to Fund performance for the period. Detracting from relative performance was security selection within corporate credit and curve positioning within the Treasury allocation.

## Fund Performance
The following chart compares the value of a hypothetical $10,000 investment in the Destinations Low Duration Fixed Income Fund Class Z from inception (July 16, 2018) to February 28, 2026 as compared with the ICE BofA US Broad Market Index and the ICE BofA US Corporate & Government (1-3 Yr) Index.

![A line chart as described in the following paragraph.](if4e355a402b0ccf1f17ebbe2.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class Z** | **ICE BofA US Broad Market Index** | **ICE BofA US Corporate & Government (1-3 Yr) Index** |
| **Jul-18** | $10000 | $10000 | $10000 |
| **Aug-18** | $10060 | $10037 | $10039 |
| **Feb-19** | $10192 | $10239 | $10207 |
| **Aug-19** | $10380 | $11090 | $10504 |
| **Feb-20** | $10466 | $11465 | $10703 |
| **Aug-20** | $10388 | $11803 | $10889 |
| **Feb-21** | $10843 | $11566 | $10912 |
| **Aug-21** | $11171 | $11787 | $10939 |
| **Feb-22** | $11230 | $11294 | $10744 |
| **Aug-22** | $11022 | $10429 | $10497 |
| **Feb-23** | $11284 | $10190 | $10467 |
| **Aug-23** | $11587 | $10289 | $10665 |
| **Feb-24** | $12158 | $10535 | $10952 |
| **Aug-24** | $12609 | $11046 | $11335 |
| **Feb-25** | $12891 | $11150 | $11562 |
| **Aug-25** | $13227 | $11393 | $11862 |
| **Feb-26** | $13746 | $11845 | $12130 |

---

The chart above represents historical performance of a hypothetical investment of $10,000 in the Fund from inception (July 16, 2018). The result of this chart does not predict the results of future time periods and does not guarantee the same results.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| Name | **1 Year** | **5 Years** | **Since Inception (07/16/2018)** |
| Class Z | 6.63% | 4.86% | 4.26% |
| ICE BofA US Broad Market Index | 6.23% | 0.47% | 2.22% |
| ICE BofA US Corporate & Government (1-3 Yr) Index | 4.91% | 2.14% | 2.55% |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| Total Net Assets | $274556899 |
| Number of Portfolio Holdings | 498 |
| Portfolio Turnover Rate | 76% |
| Advisory Fees Paid | $1892981 |

---

**The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Call 1-877-771-7979 for current performance questions.**

## What did the Fund invest in?
The Fund invests primarily in bonds and other fixed income instruments issued by governmental or private-sector entities, including mortgage-backed securities, asset-backed securities, investment grade corporate bonds, junk bonds, bank loans and money market instruments. The Fund will normally be constructed with an average total portfolio duration of three years or less. The Fund employs a multi-manager sub-advised structure. The Adviser may also invest a portion of the Fund's assets in shares of exchange-traded funds (ETFs).

### Asset Class Weightings

### (% of Total Investments)

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 33.3% |
| Exchange Traded Fund (ETF) | 12.5% |
| Collateralized Mortgage Obligations | 11.5% |
| U.S. Government Agencies & Obligations | 10.0% |
| Common Stocks | 6.0% |
| Others | 14.3% |
| Short-Term Investments | 11.0% |
| Money Market Fund | 1.4% |
| Total | 100.0% |

---

#### Sector Allocation

#### (% of Total Investments)

---

| | |
|:---|:---|
| Mortgage Securities | 14.7% |
| Government | 10.0% |
| Consumer Non-cyclical | 9.4% |
| Asset Backed Securities | 7.3% |
| Exchange Traded Fund (ETF) | 12.5% |
| Others | 33.7% |
| Short-Term Investments | 11.0% |
| Money Market Fund | 1.4% |
| Total | 100.0% |

---

## Material Fund Changes
There were no material changes to the Fund.

## Change in or Disagreements with Accountants
There were no changes to or disagreements with our accountant.

## Householding
If you wish to receive a copy of this document at a new address, please call 1-877-771-7979.

## Additional Information
If you wish to view additional information about the Fund, including its prospectus, financial statements, holdings and proxy voting information, please visit http://destinationsfunds.com/.

Phone: 1-877-771-7979

![Image](i026f13b82d056cefedbbe983.jpg)

#### Destinations Low Duration Fixed Income Fund

#### Class Z

#### Annual Shareholder Report - February 28, 2026

#### DSA-TSR-BC07-Z

# Destinations Global Fixed Income Opportunities Fund

# Class I

# DGFFX

## Annual Shareholder Report - February 28, 2026
![Image](i02f39b3e4a0ed81509d85124.jpg)

This annual shareholder summary report contains important information about the Fund for the period of March 1, 2025 to February 28, 2026. You can find additional information about the Fund at http://destinationsfunds.com/. You can also request this information by calling 1-877-771-7979.

**Fund Overview** 

The Destinations Global Fixed Income Opportunities Fund seeks to maximize total return and invests in global investment grade credit, global high yield credit, global sovereign debt, bank loans, preferred securities and convertible securities.

## What were the Fund's costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class name | **Cost of a $10,000 investment** | **Cost paid as a % of a $10,000 investment** |
| Class I | $112 | 1.08% |

---

## How did the fund perform last year?
For the fiscal year ending February 28, 2026, Class I returned 7.01% compared to a return of 5.09% for the ICE BofA Global Broad Market Index (USD Hedged) and 6.48% for the ICE BofA Global Corporate & High Yield Index (USD Hedged). A tightening of high yield credit spreads over the period contributed positively to relative performance. The Fund also benefited from security selection within health care, consumer discretionary, and information technology sectors as well as its overweight to BB and B rated bonds. The Fund's shorter duration positioning than the benchmark detracted from relative performance.

## Fund Performance
The following chart compares the value of a hypothetical $10,000 investment in the Destinations Global Fixed Income Opportunities Fund Class I from inception (March 20, 2017) to February 28, 2026 as compared with the ICE BofA Global Broad Market (USD Hedged) and the ICE BofA Global Corporate & High Yield (USD Hedged).

![A line chart as described in the following paragraph.](i19bc8e0ca94e0354ec80a20b.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class I** | **ICE BofA Global Broad Market (USD Hedged)** | **ICE BofA Global Corporate & High Yield (USD Hedged)** |
| **Mar-17** | $10000 | $10000 | $10000 |
| **Aug-17** | $10301 | $10294 | $10419 |
| **Feb-18** | $10345 | $10219 | $10384 |
| **Aug-18** | $10441 | $10358 | $10474 |
| **Feb-19** | $10562 | $10619 | $10719 |
| **Aug-19** | $10877 | $11488 | $11666 |
| **Feb-20** | $11003 | $11730 | $12026 |
| **Aug-20** | $11007 | $11892 | $12307 |
| **Feb-21** | $11694 | $11746 | $12449 |
| **Aug-21** | $11897 | $11956 | $12789 |
| **Feb-22** | $11870 | $11476 | $12084 |
| **Aug-22** | $11495 | $10655 | $11085 |
| **Feb-23** | $11623 | $10423 | $11079 |
| **Aug-23** | $11921 | $10603 | $11369 |
| **Feb-24** | $12666 | $10920 | $11903 |
| **Aug-24** | $13233 | $11367 | $12509 |
| **Feb-25** | $13677 | $11527 | $12826 |
| **Aug-25** | $14153 | $11704 | $13188 |
| **Feb-26** | $14635 | $12113 | $13658 |

---

The chart above represents historical performance of a hypothetical investment of $10,000 in the Fund from inception (March 20, 2017). The result of this chart does not predict the results of future time periods and does not guarantee the same results.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| Name | **1 Year** | **5 Years** | **Since Inception (03/20/2017)** |
| Class I | 7.01% | 4.59% | 4.35% |
| ICE BofA Global Broad Market (USD Hedged) | 5.09% | 0.62% | 2.16% |
| ICE BofA Global Corporate & High Yield (USD Hedged) | 6.48% | 1.87% | 3.53% |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| Total Net Assets | $703867538 |
| Number of Portfolio Holdings | 544 |
| Portfolio Turnover Rate | 104% |
| Advisory Fees Paid | $5418109 |

---

**The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Call 1-877-771-7979 for current performance questions.**

## What did the Fund invest in?
The Fund invests in fixed income securities including global investment grade and non-investment grade debt, global sovereign debt, bank loans, preferred securities and convertible securities. The Fund employs a multi-manager sub-advised structure. The Adviser may also invest a portion of the Fund's assets in shares of exchange-traded funds (ETFs).

### Asset Class Weightings

### (% of Total Investments)

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 77.3% |
| Senior Loans | 4.8% |
| Common Stocks | 4.5% |
| Exchange Traded Fund (ETF) | 2.2% |
| Sovereign Bonds | 1.5% |
| Others | 2.2% |
| Short-Term Investments | 5.5% |
| Money Market Fund | 2.0% |
| Total | 100.0% |

---

#### Country Weightings

#### (% of Total Investments)

---

| | |
|:---|:---|
| United States | 46.0% |
| United Kingdom | 5.3% |
| Luxembourg | 3.9% |
| Mexico | 3.8% |
| Sweden | 3.2% |
| Others | 30.3% |
| Short-Term Investments | 5.5% |
| Money Market Fund | 2.0% |
| Total | 100.0% |

---

## Material Fund Changes
There were no material changes to the Fund.

## Change in or Disagreements with Accountants
There were no changes to or disagreements with our accountant.

## Householding
If you wish to receive a copy of this document at a new address, please call 1-877-771-7979.

## Additional Information
If you wish to view additional information about the Fund, including its prospectus, financial statements, holdings and proxy voting information, please visit http://destinationsfunds.com/.

Phone: 1-877-771-7979

![Image](i02f39b3e4a0ed81509d85124.jpg)

#### Destinations Global Fixed Income Opportunities Fund

#### Class I

#### Annual Shareholder Report - February 28, 2026

#### DSA-TSR-BC08-I

# Destinations Global Fixed Income Opportunities Fund

# Class Z

# DGFZX

## Annual Shareholder Report - February 28, 2026
![Image](i02f39b3e4a0ed81509d85124.jpg)

This annual shareholder summary report contains important information about the Fund for the period of March 1, 2025 to February 28, 2026. You can find additional information about the Fund at http://destinationsfunds.com/. You can also request this information by calling 1-877-771-7979.

**Fund Overview** 

The Destinations Global Fixed Income Opportunities Fund seeks to maximize total return and invests in global investment grade credit, global high yield credit, global sovereign debt, bank loans, preferred securities and convertible securities.

## What were the Fund's costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class name | **Cost of a $10,000 investment** | **Cost paid as a % of a $10,000 investment** |
| Class Z | $96 | 0.93% |

---

## How did the fund perform last year?
For the fiscal year ending February 28, 2026, Class Z returned 7.21% compared to a return of 5.09% for the ICE BofA Global Broad Market Index (USD Hedged) and 6.48% for the ICE BofA Global Corporate & High Yield Index (USD Hedged). A tightening of high yield credit spreads over the period contributed positively to relative performance. The Fund also benefited from security selection within health care, consumer discretionary, and information technology sectors as well as its overweight to BB and B rated bonds. The Fund's shorter duration positioning than the benchmark detracted from relative performance.

## Fund Performance
The following chart compares the value of a hypothetical $10,000 investment in the Destinations Global Fixed Income Opportunities Fund Class Z from inception (July 16, 2018) to February 28, 2026 as compared with the ICE BofA Global Broad Market (USD Hedged) and the ICE BofA Global Corporate & High Yield (USD Hedged).

![A line chart as described in the following paragraph.](i9bd9397b457ddea2b63d1d97.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class Z** | **ICE BofA Global Broad Market (USD Hedged)** | **ICE BofA Global Corporate & High Yield (USD Hedged)** |
| **Jul-18** | $10000 | $10000 | $10000 |
| **Aug-18** | $10050 | $9997 | $10086 |
| **Feb-19** | $10182 | $10249 | $10286 |
| **Aug-19** | $10488 | $11088 | $10749 |
| **Feb-20** | $10616 | $11321 | $10893 |
| **Aug-20** | $10628 | $11478 | $11148 |
| **Feb-21** | $11299 | $11337 | $11833 |
| **Aug-21** | $11500 | $11539 | $12292 |
| **Feb-22** | $11492 | $11077 | $11928 |
| **Aug-22** | $11144 | $10284 | $11010 |
| **Feb-23** | $11272 | $10060 | $11270 |
| **Aug-23** | $11563 | $10233 | $11782 |
| **Feb-24** | $12293 | $10539 | $12506 |
| **Aug-24** | $12855 | $10971 | $13252 |
| **Feb-25** | $13298 | $11125 | $13765 |
| **Aug-25** | $13760 | $11296 | $14332 |
| **Feb-26** | $14256 | $11691 | $14731 |

---

The chart above represents historical performance of a hypothetical investment of $10,000 in the Fund from inception (July 16, 2018). The result of this chart does not predict the results of future time periods and does not guarantee the same results.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| Name | **1 Year** | **5 Years** | **Since Inception (07/16/2018)** |
| Class Z | 7.21% | 4.76% | 4.76% |
| ICE BofA Global Broad Market (USD Hedged) | 5.09% | 0.62% | 2.06% |
| ICE BofA Global Corporate & High Yield (USD Hedged) | 6.48% | 1.87% | 3.59% |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| Total Net Assets | $703867538 |
| Number of Portfolio Holdings | 544 |
| Portfolio Turnover Rate | 104% |
| Advisory Fees Paid | $5418109 |

---

**The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Call 1-877-771-7979 for current performance questions.**

## What did the Fund invest in?
The Fund invests in fixed income securities including global investment grade and non-investment grade debt, global sovereign debt, bank loans, preferred securities and convertible securities. The Fund employs a multi-manager sub-advised structure. The Adviser may also invest a portion of the Fund's assets in shares of exchange-traded funds (ETFs).

### Asset Class Weightings

### (% of Total Investments)

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 77.3% |
| Senior Loans | 4.8% |
| Common Stocks | 4.5% |
| Exchange Traded Fund (ETF) | 2.2% |
| Sovereign Bonds | 1.5% |
| Others | 2.2% |
| Short-Term Investments | 5.5% |
| Money Market Fund | 2.0% |
| Total | 100.0% |

---

#### Country Weightings

#### (% of Total Investments)

---

| | |
|:---|:---|
| United States | 46.0% |
| United Kingdom | 5.3% |
| Luxembourg | 3.9% |
| Mexico | 3.8% |
| Sweden | 3.2% |
| Others | 30.3% |
| Short-Term Investments | 5.5% |
| Money Market Fund | 2.0% |
| Total | 100.0% |

---

## Material Fund Changes
There were no material changes to the Fund.

## Change in or Disagreements with Accountants
There were no changes to or disagreements with our accountant.

## Householding
If you wish to receive a copy of this document at a new address, please call 1-877-771-7979.

## Additional Information
If you wish to view additional information about the Fund, including its prospectus, financial statements, holdings and proxy voting information, please visit http://destinationsfunds.com/.

Phone: 1-877-771-7979

![Image](i02f39b3e4a0ed81509d85124.jpg)

#### Destinations Global Fixed Income Opportunities Fund

#### Class Z

#### Annual Shareholder Report - February 28, 2026

#### DSA-TSR-BC08-Z

# Destinations Municipal Fixed Income Fund

# Class I

# DMFFX

## Annual Shareholder Report - February 28, 2026
![Image](iad0f5cac9ad8e8edd26e43f9.jpg)

This annual shareholder summary report contains important information about the Fund for the period of March 1, 2025 to February 28, 2026. You can find additional information about the Fund at http://destinationsfunds.com/. You can also request this information by calling 1-877-771-7979.

**Fund Overview** 

The Destinations Municipal Fixed Income Fund seeks current income that is exempt from federal income taxation and invests in municipal fixed income of primarily investment grade.

## What were the Fund's costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class name | **Cost of a $10,000 investment** | **Cost paid as a % of a $10,000 investment** |
| Class I | $86 | 0.84% |

---

## How did the fund perform last year?
For the fiscal year ending February 28, 2026, Class I returned 4.06% compared to a return of 5.69% for the ICE BofA US Municipal Securities 2-12 Year Index. The Fund's security selection in transportation and education bonds as well as its exposure to BB-rated bonds contributed positively to relative performance for the period. Detracting from relative performance was the Fund's yield curve positioning, with barbelled exposure and an underweight allocation to bonds with maturities from 5-10 years.

## Fund Performance
The following chart compares the value of a hypothetical $10,000 investment in the Destinations Municipal Fixed Income Fund Class I from inception (March 20, 2017) to February 28, 2026 as compared with the ICE BofA US Municipal Securities 2-12 Year Index.

![A line chart as described in the following paragraph.](i8e900ea477929b0e2abb0ef0.jpg)

---

| | | |
|:---|:---|:---|
| | **Class I** | **ICE BofA US Municipal Securities 2-12 Year Index** |
| **Mar-17** | $10000 | $10000 |
| **Aug-17** | $10126 | $10355 |
| **Feb-18** | $9986 | $10167 |
| **Aug-18** | $10089 | $10308 |
| **Feb-19** | $10316 | $10583 |
| **Aug-19** | $10838 | $11070 |
| **Feb-20** | $11077 | $11305 |
| **Aug-20** | $11089 | $11421 |
| **Feb-21** | $11066 | $11463 |
| **Aug-21** | $11241 | $11667 |
| **Feb-22** | $10907 | $11297 |
| **Aug-22** | $10474 | $10929 |
| **Feb-23** | $10540 | $11006 |
| **Aug-23** | $10640 | $11095 |
| **Feb-24** | $11006 | $11478 |
| **Aug-24** | $11208 | $11653 |
| **Feb-25** | $11354 | $11806 |
| **Aug-25** | $11263 | $11977 |
| **Feb-26** | $11815 | $12478 |

---

The chart above represents historical performance of a hypothetical investment of $10,000 in the Fund from inception (March 20, 2017). The result of this chart does not predict the results of future time periods and does not guarantee the same results.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| Name | **1 Year** | **5 Years** | **Since Inception (03/20/2017)** |
| Class I | 4.06% | 1.32% | 1.87% |
| ICE BofA US Municipal Securities 2-12 Year Index | 5.69% | 1.70% | 2.50% |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| Total Net Assets | $637865978 |
| Number of Portfolio Holdings | 448 |
| Portfolio Turnover Rate | 48% |
| Advisory Fees Paid | $3897541 |

---

**The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Call 1-877-771-7979 for current performance questions.**

## What did the Fund invest in?
The Fund invests in fixed income securities that pay interest that is exempt from regular federal income tax. In seeking high current income exempt from regular federal income tax, the Fund will invest in municipal instruments, which are fixed-income obligations issued by a state, territory or possession of the United States (included the District of Columbia) or a political subdivision, agency or instrumentality thereof, primarily in investment grade debt obligations. The Fund may employ a multi manager sub-advised structure. The Adviser may also invest a portion of the Fund's assets in shares of exchange-traded funds (ETFs).

### Asset Class Weightings

### (% of Total Investments)

---

| | |
|:---|:---|
| Municipal Bonds | 88.3% |
| Exchange Traded Fund (ETF) | 2.0% |
| Warrant | 0.0%<sup>Footnote Reference\*</sup> |
| Short-Term Investments | 7.7% |
| Money Market Fund | 2.0% |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Position represents less than 0.05%. |

---

#### Industry Weightings

#### (% of Total Investments)

---

| | |
|:---|:---|
| General Obligation | 35.3% |
| Education | 14.5% |
| Water and Sewer | 6.6% |
| Health Care Providers & Services | 6.4% |
| Exchange Traded Fund (ETF) | 2.0% |
| Others | 25.5% |
| Short-Term Investments | 7.7% |
| Money Market Fund | 2.0% |
| Total | 100.0% |

---

## Material Fund Changes
There were no material changes to the Fund.

## Change in or Disagreements with Accountants
There were no changes to or disagreements with our accountant.

## Householding
If you wish to receive a copy of this document at a new address, please call 1-877-771-7979.

## Additional Information
If you wish to view additional information about the Fund, including its prospectus, financial statements, holdings and proxy voting information, please visit http://destinationsfunds.com/.

Phone: 1-877-771-7979

![Image](iad0f5cac9ad8e8edd26e43f9.jpg)

#### Destinations Municipal Fixed Income Fund

#### Class I

#### Annual Shareholder Report - February 28, 2026

#### DSA-TSR-BC10-I

# Destinations Municipal Fixed Income Fund

# Class Z

# DMFZX

## Annual Shareholder Report - February 28, 2026
![Image](iad0f5cac9ad8e8edd26e43f9.jpg)

This annual shareholder summary report contains important information about the Fund for the period of March 1, 2025 to February 28, 2026. You can find additional information about the Fund at http://destinationsfunds.com/. You can also request this information by calling 1-877-771-7979.

**Fund Overview** 

The Destinations Municipal Fixed Income Fund seeks current income that is exempt from federal income taxation and invests in municipal fixed income of primarily investment grade.

## What were the Fund's costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class name | **Cost of a $10,000 investment** | **Cost paid as a % of a $10,000 investment** |
| Class Z | $70 | 0.69% |

---

## How did the fund perform last year?
For the fiscal year ending February 28, 2026, Class Z returned 4.20% compared to a return of 5.69% for the ICE BofA US Municipal Securities 2-12 Year Index. The Fund's security selection in transportation and education bonds as well as its exposure to BB-rated bonds contributed positively to relative performance for the period. Detracting from relative performance was the Fund's yield curve positioning, with barbelled exposure and an underweight allocation to bonds with maturities from 5-10 years.

## Fund Performance
The following chart compares the value of a hypothetical $10,000 investment in the Destinations Municipal Fixed Income Fund Class Z from inception (July 16, 2018) to February 28, 2026 as compared with the ICE BofA US Municipal Securities 2-12 Year Index.

![A line chart as described in the following paragraph.](i61838a7f172bb99741889c2f.jpg)

---

| | | |
|:---|:---|:---|
| | **Class Z** | **ICE BofA US Municipal Securities 2-12 Year Index** |
| **Jul-18** | $10000 | $10000 |
| **Aug-18** | $10010 | $10006 |
| **Feb-19** | $10242 | $10273 |
| **Aug-19** | $10766 | $10745 |
| **Feb-20** | $11011 | $10973 |
| **Aug-20** | $11021 | $11086 |
| **Feb-21** | $11017 | $11126 |
| **Aug-21** | $11198 | $11325 |
| **Feb-22** | $10875 | $10966 |
| **Aug-22** | $10452 | $10608 |
| **Feb-23** | $10525 | $10683 |
| **Aug-23** | $10633 | $10769 |
| **Feb-24** | $11006 | $11142 |
| **Aug-24** | $11220 | $11311 |
| **Feb-25** | $11373 | $11460 |
| **Aug-25** | $11291 | $11626 |
| **Feb-26** | $11850 | $12112 |

---

The chart above represents historical performance of a hypothetical investment of $10,000 in the Fund from inception (July 16, 2018). The result of this chart does not predict the results of future time periods and does not guarantee the same results.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| Name | **1 Year** | **5 Years** | **Since Inception (07/16/2018)** |
| Class Z | 4.20% | 1.47% | 2.24% |
| ICE BofA US Municipal Securities 2-12 Year Index | 5.69% | 1.70% | 2.54% |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| Total Net Assets | $637865978 |
| Number of Portfolio Holdings | 448 |
| Portfolio Turnover Rate | 48% |
| Advisory Fees Paid | $3897541 |

---

**The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Call 1-877-771-7979 for current performance questions.**

## What did the Fund invest in?
The Fund invests in fixed income securities that pay interest that is exempt from regular federal income tax. In seeking high current income exempt from regular federal income tax, the Fund will invest in municipal instruments, which are fixed-income obligations issued by a state, territory or possession of the United States (included the District of Columbia) or a political subdivision, agency or instrumentality thereof, primarily in investment grade debt obligations. The Fund may employ a multi manager sub-advised structure. The Adviser may also invest a portion of the Fund's assets in shares of exchange-traded funds (ETFs).

### Asset Class Weightings

### (% of Total Investments)

---

| | |
|:---|:---|
| Municipal Bonds | 88.3% |
| Exchange Traded Fund (ETF) | 2.0% |
| Warrant | 0.0%<sup>Footnote Reference\*</sup> |
| Short-Term Investments | 7.7% |
| Money Market Fund | 2.0% |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Position represents less than 0.05%. |

---

#### Industry Weightings

#### (% of Total Investments)

---

| | |
|:---|:---|
| General Obligation | 35.3% |
| Education | 14.5% |
| Water and Sewer | 6.6% |
| Health Care Providers & Services | 6.4% |
| Exchange Traded Fund (ETF) | 2.0% |
| Others | 25.5% |
| Short-Term Investments | 7.7% |
| Money Market Fund | 2.0% |
| Total | 100.0% |

---

## Material Fund Changes
There were no material changes to the Fund.

## Change in or Disagreements with Accountants
There were no changes to or disagreements with our accountant.

## Householding
If you wish to receive a copy of this document at a new address, please call 1-877-771-7979.

## Additional Information
If you wish to view additional information about the Fund, including its prospectus, financial statements, holdings and proxy voting information, please visit http://destinationsfunds.com/.

Phone: 1-877-771-7979

![Image](iad0f5cac9ad8e8edd26e43f9.jpg)

#### Destinations Municipal Fixed Income Fund

#### Class Z

#### Annual Shareholder Report - February 28, 2026

#### DSA-TSR-BC10-Z

# Destinations Multi Strategy Alternatives Fund

# Class I

# DMSFX

## Annual Shareholder Report - February 28, 2026
![Image](i005ae9a063728c2ac287515c.jpg)

This annual shareholder summary report contains important information about the Fund for the period of March 1, 2025 to February 28, 2026. You can find additional information about the Fund at http://destinationsfunds.com/. You can also request this information by calling 1-877-771-7979.

**Fund Overview** 

The Destinations Multi Strategy Alternatives Fund seeks long-term growth of capital with reduced correlation to equity and fixed income markets and may invest across multiple strategies including long/short credit, long/short equity, relative value, distressed credit, global macro, event driven and closed-end funds.

## What were the Fund's costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class name | **Cost of a $10,000 investment** | **Cost paid as a % of a $10,000 investment** |
| Class I | $129 | 1.26% |

---

## How did the fund perform last year?
For the fiscal year ending February 28, 2026, Class I returned 5.00% compared to a return of 6.23% for the ICE BofA US Broad Market Index. The Fund's exposure to mortgage credit risk transfer securities and collateralized loan obligations through the relative value credit strategy contributed positively to performance for the period. Additionally, stock selection within the health care sector benefited performance. Detracting from performance for the period was an overweight to ultrashort duration fixed income and stock selection within the consumer discretionary and industrials sectors.

## Fund Performance
The following chart compares the value of a hypothetical $10,000 investment in the Destinations Multi Strategy Alternatives Fund Class I from inception (March 20, 2017) to February 28, 2026 as compared with the ICE BofA US Broad Market Index.

![A line chart as described in the following paragraph.](iab79a2e519254aabda48aea4.jpg)

---

| | | |
|:---|:---|:---|
| | **Class I** | **ICE BofA US Broad Market Index** |
| **Mar-17** | $10000 | $10000 |
| **Aug-17** | $10095 | $10334 |
| **Feb-18** | $10394 | $10107 |
| **Aug-18** | $10601 | $10225 |
| **Feb-19** | $10509 | $10431 |
| **Aug-19** | $10471 | $11298 |
| **Feb-20** | $10903 | $11680 |
| **Aug-20** | $11102 | $12025 |
| **Feb-21** | $12112 | $11783 |
| **Aug-21** | $12335 | $12008 |
| **Feb-22** | $12263 | $11506 |
| **Aug-22** | $11919 | $10624 |
| **Feb-23** | $12493 | $10381 |
| **Aug-23** | $12974 | $10482 |
| **Feb-24** | $13805 | $10732 |
| **Aug-24** | $14246 | $11253 |
| **Feb-25** | $14455 | $11359 |
| **Aug-25** | $14844 | $11607 |
| **Feb-26** | $15178 | $12067 |

---

The chart above represents historical performance of a hypothetical investment of $10,000 in the Fund from inception (March 20, 2017). The result of this chart does not predict the results of future time periods and does not guarantee the same results.

## Average Annual Total Returns (%)

## Key Fund Statistics

---

| | |
|:---|:---|
| Total Net Assets | $531630724 |
| Number of Portfolio Holdings | 123 |
| Portfolio Turnover Rate | 55% |
| Advisory Fees Paid | $5451042 |

---

---

| | | | |
|:---|:---|:---|:---|
| Name | **1 Year** | **5 Years** | **Since Inception (03/20/2017)** |
| Class I | 5.00%<sup>Footnote Reference\*</sup> | 4.62% | 4.76% |
| ICE BofA US Broad Market Index | 6.23% | 0.47% | 2.13% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Includes the impact of proceeds received and credited to the Fund resulting from class action settlements, which enhanced the Fund's performance for the year ended February 28, 2026 by 0.01%. |

---

**The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Call 1-877-771-7979 for current performance questions.** 

## What did the Fund invest in?
The Fund employs a strategy intended to generate long term growth across market cycles with reduced correlation to equity and fixed income markets. The Fund may invest across multiple strategies including long/short credit, long/short equity, relative value, distressed credit, global macro, event-driven and closed-ended funds. The Fund employs a multi-manager sub-advised structure. The Adviser may also invest a portion of the Fund's assets in unaffiliated funds, including open-end funds, closed-end funds, and exchange-traded funds (ETFs).

### Asset Class Weightings

### (% of Total Investments)

---

| | |
|:---|:---|
| Collateralized Mortgage Obligations | 23.0% |
| Common Stocks | 17.3% |
| Open-End Fund | 14.7% |
| Asset-Backed Securities | 11.8% |
| Exchange Traded Fund (ETF) | 4.6% |
| Collateralized Loan Obligations | 1.1% |
| Others | 0.3% |
| Short-Term Investments | 27.2% |
| Total | 100.0% |

---

## Material Fund Changes
There were no material changes to the Fund.

## Change in or Disagreements with Accountants
There were no changes to or disagreements with our accountant.

## Householding
If you wish to receive a copy of this document at a new address, please call 1-877-771-7979.

## Additional Information
If you wish to view additional information about the Fund, including its prospectus, financial statements, holdings and proxy voting information, please visit http://destinationsfunds.com/.

Phone: 1-877-771-7979

![Image](i005ae9a063728c2ac287515c.jpg)

#### Destinations Multi Strategy Alternatives Fund

#### Class I

#### Annual Shareholder Report - February 28, 2026

#### DSA-TSR-BC09-I

# Destinations Multi Strategy Alternatives Fund

# Class Z

# DMSZX

## Annual Shareholder Report - February 28, 2026
![Image](i005ae9a063728c2ac287515c.jpg)

This annual shareholder summary report contains important information about the Fund for the period of March 1, 2025 to February 28, 2026. You can find additional information about the Fund at http://destinationsfunds.com/. You can also request this information by calling 1-877-771-7979.

**Fund Overview** 

The Destinations Multi Strategy Alternatives Fund seeks long-term growth of capital with reduced correlation to equity and fixed income markets and may invest across multiple strategies including long/short credit, long/short equity, relative value, distressed credit, global macro, event driven and closed-end funds.

## What were the Fund's costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class name | **Cost of a $10,000 investment** | **Cost paid as a % of a $10,000 investment** |
| Class Z | $114 | 1.11% |

---

## How did the fund perform last year?
For the fiscal year ending February 28, 2026, Class Z returned 5.18% compared to a return of 6.23% for the ICE BofA US Broad Market Index. The Fund's exposure to mortgage credit risk transfer securities and collateralized loan obligations through the relative value credit strategy contributed positively to performance for the period. Additionally, stock selection within the health care sector benefited performance. Detracting from performance for the period was an overweight to ultrashort duration fixed income and stock selection within the consumer discretionary and industrials sectors.

## Fund Performance
The following chart compares the value of a hypothetical $10,000 investment in the Destinations Multi Strategy Alternatives Fund Class Z from inception (July 16, 2018) to February 28, 2026 as compared with the ICE BofA US Broad Market Index.

![A line chart as described in the following paragraph.](ie8aa952a414da1e0c4bf46b6.jpg)

---

| | | |
|:---|:---|:---|
| | **Class Z** | **ICE BofA US Broad Market Index** |
| **Jul-18** | $10000 | $10000 |
| **Aug-18** | $10060 | $10037 |
| **Feb-19** | $9979 | $10239 |
| **Aug-19** | $9948 | $11090 |
| **Feb-20** | $10355 | $11465 |
| **Aug-20** | $10564 | $11803 |
| **Feb-21** | $11524 | $11566 |
| **Aug-21** | $11748 | $11787 |
| **Feb-22** | $11687 | $11294 |
| **Aug-22** | $11368 | $10429 |
| **Feb-23** | $11927 | $10190 |
| **Aug-23** | $12393 | $10289 |
| **Feb-24** | $13193 | $10535 |
| **Aug-24** | $13634 | $11046 |
| **Feb-25** | $13837 | $11150 |
| **Aug-25** | $14228 | $11393 |
| **Feb-26** | $14555 | $11845 |

---

The chart above represents historical performance of a hypothetical investment of $10,000 in the Fund from inception (July 16, 2018). The result of this chart does not predict the results of future time periods and does not guarantee the same results.

## Average Annual Total Returns (%)

## Key Fund Statistics

---

| | |
|:---|:---|
| Total Net Assets | $531630724 |
| Number of Portfolio Holdings | 123 |
| Portfolio Turnover Rate | 55% |
| Advisory Fees Paid | $5451042 |

---

---

| | | | |
|:---|:---|:---|:---|
| Name | **1 Year** | **5 Years** | **Since Inception (07/16/2018)** |
| Class Z | 5.18%<sup>Footnote Reference\*</sup> | 4.78% | 5.03% |
| ICE BofA US Broad Market Index | 6.23% | 0.47% | 2.22% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Includes the impact of proceeds received and credited to the Fund resulting from class action settlements, which enhanced the Fund's performance for the year ended February 28, 2026 by 0.01%. |

---

**The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Call 1-877-771-7979 for current performance questions.** 

## What did the Fund invest in?
The Fund employs a strategy intended to generate long term growth across market cycles with reduced correlation to equity and fixed income markets. The Fund may invest across multiple strategies including long/short credit, long/short equity, relative value, distressed credit, global macro, event-driven and closed-ended funds. The Fund employs a multi-manager sub-advised structure. The Adviser may also invest a portion of the Fund's assets in unaffiliated funds, including open-end funds, closed-end funds, and exchange-traded funds (ETFs).

### Asset Class Weightings

### (% of Total Investments)

---

| | |
|:---|:---|
| Collateralized Mortgage Obligations | 23.0% |
| Common Stocks | 17.3% |
| Open-End Fund | 14.7% |
| Asset-Backed Securities | 11.8% |
| Exchange Traded Fund (ETF) | 4.6% |
| Collateralized Loan Obligations | 1.1% |
| Others | 0.3% |
| Short-Term Investments | 27.2% |
| Total | 100.0% |

---

## Material Fund Changes
There were no material changes to the Fund.

## Change in or Disagreements with Accountants
There were no changes to or disagreements with our accountant.

## Householding
If you wish to receive a copy of this document at a new address, please call 1-877-771-7979.

## Additional Information
If you wish to view additional information about the Fund, including its prospectus, financial statements, holdings and proxy voting information, please visit http://destinationsfunds.com/.

Phone: 1-877-771-7979

![Image](i005ae9a063728c2ac287515c.jpg)

#### Destinations Multi Strategy Alternatives Fund

#### Class Z

#### Annual Shareholder Report - February 28, 2026

#### DSA-TSR-BC09-Z

# Destinations Shelter Fund

# Class I

# DSHFX

## Annual Shareholder Report - February 28, 2026
![Image](iffb385fe911657c6ef6e0bbb.jpg)

This annual shareholder summary report contains important information about the Fund for the period of March 1, 2025 to February 28, 2026. You can find additional information about the Fund at http://destinationsfunds.com/. You can also request this information by calling 1-877-771-7979.

**Fund Overview** 

The Destinations Shelter Fund seeks capital appreciation with lower volatility than broad equity markets. The Fund will use derivative investments, including options on equity indexes, to seek to mitigate significant equity market downside risk.

## What were the Fund's costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class name | **Cost of a $10,000 investment** | **Cost paid as a % of a $10,000 investment** |
| Class I | $125 | 1.19% |

---

## How did the fund perform last year?
For the fiscal year ending February 28, 2026, Class I returned 9.28% compared to a return of 16.73% for the Russell 1000 Index. The Fund's index replication portion of the portfolio outperformed the benchmark and contributed positively to performance for the period. Stock selection within the information technology and communication services sectors benefited performance while stock selection in the industrials sector detracted from performance for the period. Also detracting from performance was the Fund's risk mitigation hedging strategy that was not rewarded during this period of robust US equity market returns.

## Fund Performance
The following chart compares the value of a hypothetical $10,000 investment in the Destinations Shelter Fund Class I from inception (October 26, 2021) to February 28, 2026 as compared with the Russell 1000 Index.

![A line chart as described in the following paragraph.](if778a1765cddfd508e1546e9.jpg)

---

| | | |
|:---|:---|:---|
| | **Class I** | **Russell 1000 Index** |
| **Oct-21** | $10000 | $10000 |
| **Feb-22** | $9567 | $9474 |
| **Aug-22** | $8894 | $8579 |
| **Feb-23** | $8748 | $8697 |
| **Aug-23** | $9748 | $9900 |
| **Feb-24** | $10577 | $11289 |
| **Aug-24** | $11607 | $12533 |
| **Feb-25** | $12131 | $13334 |
| **Aug-25** | $12699 | $14568 |
| **Feb-26** | $13258 | $15566 |

---

The chart above represents historical performance of a hypothetical investment of $10,000 in the Fund from inception (October 26, 2021). The result of this chart does not predict the results of future time periods and does not guarantee the same results.

## Average Annual Total Returns (%)

---

| | | |
|:---|:---|:---|
| Name | **1 Year** | **Since Inception (10/26/2021)** |
| Class I | 9.28% | 6.71% |
| Russell 1000 Index | 16.73% | 10.70% |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| Total Net Assets | $91813403 |
| Number of Portfolio Holdings | 208 |
| Portfolio Turnover Rate | 12% |
| Advisory Fees Paid | $756086 |

---

**The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Call 1-877-771-7979 for current performance questions.**

## What did the Fund invest in?
The Fund employs a strategy intended to provide capital appreciation through broad exposure to equity markets with a lower volatility profile than long-only equity strategies through the implementation of a hedging strategy that uses index options to seek to limit the magnitude of negative returns during a declining equity market. The Fund will use derivative investments primarily for hedging purposes. The Fund may employ a multi-manager sub-advised structure. The Adviser may also invest a portion of the Fund's assets in unaffiliated funds, including open-end funds, closed-end funds, and exchange-traded funds (ETFs).

### Asset Class Weightings

### (% of Total Investments)

---

| | |
|:---|:---|
| Common Stocks | 97.0% |
| Short-Term Investments | 1.8% |
| Purchased Options | 1.2% |
| Total | 100.0% |

---

### Sector Allocation

### (% of Total Investments)

---

| | |
|:---|:---|
| Technology | 28.8% |
| Communications | 16.8% |
| Financial | 14.7% |
| Consumer Non-cyclical | 12.0% |
| Industrial | 8.8% |
| Consumer Cyclical | 8.1% |
| Others | 9.0% |
| Short-Term Investments | 1.8% |
| Total | 100.0% |

---

## Material Fund Changes
There were no material changes to the Fund.

## Change in or Disagreements with Accountants
There were no changes to or disagreements with our accountant.

## Householding
If you wish to receive a copy of this document at a new address, please call 1-877-771-7979.

## Additional Information
If you wish to view additional information about the Fund, including its prospectus, financial statements, holdings and proxy voting information, please visit http://destinationsfunds.com/.

Phone: 1-877-771-7979

![Image](iffb385fe911657c6ef6e0bbb.jpg)

#### Destinations Shelter Fund

#### Class I

#### Annual Shareholder Report - February 28, 2026

#### DSA-TSR-BC11-I

# Destinations Shelter Fund

# Class Z

# DSHZX

## Annual Shareholder Report - February 28, 2026
![Image](iffb385fe911657c6ef6e0bbb.jpg)

This annual shareholder summary report contains important information about the Fund for the period of March 1, 2025 to February 28, 2026. You can find additional information about the Fund at http://destinationsfunds.com/. You can also request this information by calling 1-877-771-7979.

**Fund Overview** 

The Destinations Shelter Fund seeks capital appreciation with lower volatility than broad equity markets. The Fund will use derivative investments, including options on equity indexes, to seek to mitigate significant equity market downside risk.

## What were the Fund's costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class name | **Cost of a $10,000 investment** | **Cost paid as a % of a $10,000 investment** |
| Class Z | $109 | 1.04% |

---

## How did the fund perform last year?
For the fiscal year ending February 28, 2026, Class Z returned 9.54% compared to a return of 16.73% for the Russell 1000 Index. The Fund's index replication portion of the portfolio outperformed the benchmark and contributed positively to performance for the period. Stock selection within the information technology and communication services sectors benefited performance while stock selection in the industrials sector detracted from performance for the period. Also detracting from performance was the Fund's risk mitigation hedging strategy that was not rewarded during this period of robust US equity market returns.

## Fund Performance
The following chart compares the value of a hypothetical $10,000 investment in the Destinations Shelter Fund Class Z from inception (November 3, 2021) to February 28, 2026 as compared with the Russell 1000 Index.

![A line chart as described in the following paragraph.](if511e942986820a52c7f6d7b.jpg)

---

| | | |
|:---|:---|:---|
| | **Class Z** | **Russell 1000 Index** |
| **Nov-21** | $10000 | $10000 |
| **Feb-22** | $9449 | $9304 |
| **Aug-22** | $8791 | $8425 |
| **Feb-23** | $8662 | $8540 |
| **Aug-23** | $9648 | $9722 |
| **Feb-24** | $10477 | $11087 |
| **Aug-24** | $11506 | $12308 |
| **Feb-25** | $12031 | $13095 |
| **Aug-25** | $12608 | $14307 |
| **Feb-26** | $13179 | $15286 |

---

The chart above represents historical performance of a hypothetical investment of $10,000 in the Fund from inception (November 03, 2021). The result of this chart does not predict the results of future time periods and does not guarantee the same results.

## Average Annual Total Returns (%)

---

| | | |
|:---|:---|:---|
| Name | **1 Year** | **Since Inception (11/03/2021)** |
| Class Z | 9.54% | 6.60% |
| Russell 1000 Index | 16.73% | 10.44% |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| Total Net Assets | $91813403 |
| Number of Portfolio Holdings | 208 |
| Portfolio Turnover Rate | 12% |
| Advisory Fees Paid | $756086 |

---

**The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Call 1-877-771-7979 for current performance questions.**

## What did the Fund invest in?
The Fund employs a strategy intended to provide capital appreciation through broad exposure to equity markets with a lower volatility profile than long-only equity strategies through the implementation of a hedging strategy that uses index options to seek to limit the magnitude of negative returns during a declining equity market. The Fund will use derivative investments primarily for hedging purposes. The Fund may employ a multi-manager sub-advised structure. The Adviser may also invest a portion of the Fund's assets in unaffiliated funds, including open-end funds, closed-end funds, and exchange-traded funds (ETFs).

### Asset Class Weightings

### (% of Total Investments)

---

| | |
|:---|:---|
| Common Stocks | 97.0% |
| Short-Term Investments | 1.8% |
| Purchased Options | 1.2% |
| Total | 100.0% |

---

### Sector Allocation

### (% of Total Investments)

---

| | |
|:---|:---|
| Technology | 28.8% |
| Communications | 16.8% |
| Financial | 14.7% |
| Consumer Non-cyclical | 12.0% |
| Industrial | 8.8% |
| Consumer Cyclical | 8.1% |
| Others | 9.0% |
| Short-Term Investments | 1.8% |
| Total | 100.0% |

---

## Material Fund Changes
There were no material changes to the Fund.

## Change in or Disagreements with Accountants
There were no changes to or disagreements with our accountant.

## Householding
If you wish to receive a copy of this document at a new address, please call 1-877-771-7979.

## Additional Information
If you wish to view additional information about the Fund, including its prospectus, financial statements, holdings and proxy voting information, please visit http://destinationsfunds.com/.

Phone: 1-877-771-7979

![Image](iffb385fe911657c6ef6e0bbb.jpg)

#### Destinations Shelter Fund

#### Class Z

#### Annual Shareholder Report - February 28, 2026

#### DSA-TSR-BC11-Z

# Destinations Real Assets Fund

# Class I

# DRAFX

## Annual Shareholder Report - February 28, 2026
![Image](i187a383d085dabb050186edc.jpg)

This annual shareholder summary report contains important information about the Fund for the period of March 1, 2025 to February 28, 2026. You can find additional information about the Fund at http://destinationsfunds.com/. You can also request this information by calling 1-877-771-7979.

**Fund Overview**

The Destinations Real Assets Fund seeks to provide long-term capital appreciation investing primarily in large capitalization, U.S. based equity.

## What were the Fund's costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class name | **Cost of a $10,000 investment** | **Cost paid as a % of a $10,000 investment** |
| Class I | $133 | 1.14% |

---

## How did the fund perform last year?
For the fiscal year ending February 28, 2026, Class I returned 33.29% compared to a return of 23.61% for the FTSE All World Developed Index. Stock selection in the materials and real estate sectors contributed to relative performance. From a sector exposure perspective, the overweight to materials and utilities as well as dedicated gold exposure also benefited performance. Detracting from the Fund's relative performance was an overweight to real estate and an underweight to information technology as well as stock selection within the energy sector.

## Fund Performance
The following chart compares the value of a hypothetical $10,000 investment in the Destinations Real Assets Fund Class I from inception (March 20, 2017) to February 28, 2026 as compared with the FTSE All World Developed Index.

![A line chart as described in the following paragraph.](ide9a4a86b803debb45d3c883.jpg)

---

| | | |
|:---|:---|:---|
| | **Class I** | **FTSE All World Developed Index** |
| **Mar-17** | $10000 | $10000 |
| **Aug-17** | $10060 | $10660 |
| **Feb-18** | $9205 | $11625 |
| **Aug-18** | $9483 | $12023 |
| **Feb-19** | $6632 | $11607 |
| **Aug-19** | $4198 | $11986 |
| **Feb-20** | $3695 | $12115 |
| **Aug-20** | $3353 | $14014 |
| **Feb-21** | $3879 | $15716 |
| **Aug-21** | $3879 | $18165 |
| **Feb-22** | $3879 | $17275 |
| **Aug-22** | $3879 | $15360 |
| **Feb-23** | $3879 | $15988 |
| **Aug-23** | $3879 | $17742 |
| **Feb-24** | $3879 | $19925 |
| **Aug-24** | $3879 | $22025 |
| **Feb-25** | $3820 | $22924 |
| **Aug-25** | $4184 | $25490 |
| **Feb-26** | $5091 | $28336 |

---

The chart above represents historical performance of a hypothetical investment of $10,000 in the Fund from inception (March 20, 2017). The result of this chart does not predict the results of future time periods and does not guarantee the same results.

## Average Annual Total Returns (%)

## Key Fund Statistics

---

| | |
|:---|:---|
| Total Net Assets | $404016928 |
| Number of Portfolio Holdings | 310 |
| Portfolio Turnover Rate | 92% |
| Advisory Fees Paid | $2474323 |

---

---

| | | | |
|:---|:---|:---|:---|
| Name | **1 Year** | **5 Years** | **Since Inception (03/20/2017)** |
| Class I | 33.29% | 5.59% | -7.26% |
| FTSE All World Developed Index | 23.61% | 12.51% | 12.28% |

---

**The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Call 1-877-771-7979 for current performance questions.**

## What did the Fund invest in?
The Fund will invest in the equity securities of large capitalization companies. The Fund employs a multi-manager sub-advised structure. The Adviser may also invest a portion of the Fund's assets in shares of exchange-traded funds (ETFs).

#### Sector Allocation

#### (% of Total Investments)

---

| | |
|:---|:---|
| Financial | 29.4% |
| Utilities | 18.2% |
| Energy | 15.3% |
| Basic Materials | 10.7% |
| Industrial | 10.2% |
| Exchange Traded Funds (ETFs) | 10.7% |
| Others | 3.8% |
| Short-Term Investments | 1.6% |
| Money Market Fund | 0.1% |
| Total | 100.0% |

---

#### Country Weightings

#### (% of Total Investments)

---

| | |
|:---|:---|
| United States | 59.9% |
| Canada | 8.6% |
| United Kingdom | 6.4% |
| Spain | 3.7% |
| Australia | 3.7% |
| Japan | 2.9% |
| Others | 13.1% |
| Short-Term Investments | 1.6% |
| Money Market Fund | 0.1% |
| Total | 100.0% |

---

#### Asset Class Weightings

#### (% of Total Investments)

---

| | |
|:---|:---|
| Common Stocks | 87.4% |
| Exchange Traded Funds (ETFs) | 10.7% |
| Limited Partnership | 0.1% |
| Closed-End Fund | 0.1% |
| Short-Term Investments | 1.6% |
| Money Market Fund | 0.1% |
| Total | 100.0% |

---

## Material Fund Changes
There were no material changes to the Fund.

## Change in or Disagreements with Accountants
There were no changes to or disagreements with our accountant.

## Householding
If you wish to receive a copy of this document at a new address, please call 1-877-771-7979.

## Additional Information
If you wish to view additional information about the Fund, including its prospectus, financial statements, holdings and proxy voting information, please visit http://destinationsfunds.com/.

Phone: 1-877-771-7979

![Image](i187a383d085dabb050186edc.jpg)

#### Destinations Real Assets Fund

#### Class I

#### Annual Shareholder Report - February 28, 2026

#### DSA-TSR-BC12-I

# Destinations Real Assets Fund

# Class Z

# DRAZX

## Annual Shareholder Report - February 28, 2026
![Image](i187a383d085dabb050186edc.jpg)

This annual shareholder summary report contains important information about the Fund for the period of March 1, 2025 to February 28, 2026. You can find additional information about the Fund at http://destinationsfunds.com/. You can also request this information by calling 1-877-771-7979.

**Fund Overview**

The Destinations Real Assets Fund seeks to provide long-term capital appreciation investing primarily in large capitalization, U.S. based equity.

## What were the Fund's costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class name | **Cost of a $10,000 investment** | **Cost paid as a % of a $10,000 investment** |
| Class Z | $116 | 0.99% |

---

## How did the fund perform last year?
For the fiscal year ending February 28, 2026, Class Z returned 33.66% compared to a return of 23.61% for the FTSE All World Developed Index. Stock selection in the materials and real estate sectors contributed to relative performance. From a sector exposure perspective, the overweight to materials and utilities as well as dedicated gold exposure also benefited performance. Detracting from the Fund's relative performance was an overweight to real estate and an underweight to information technology as well as stock selection within the energy sector.

## Fund Performance
The following chart compares the value of a hypothetical $10,000 investment in the Destinations Real Assets Fund Class Z from inception (July 16, 2018) to February 28, 2026 as compared with the FTSE All World Developed Index.

![A line chart as described in the following paragraph.](ieeed7143e5720e2bc14af6b5.jpg)

---

| | | |
|:---|:---|:---|
| | **Class Z** | **FTSE All World Developed Index** |
| **Jul-18** | $10000 | $10000 |
| **Aug-18** | $9320 | $10217 |
| **Feb-19** | $6521 | $9863 |
| **Aug-19** | $4133 | $10185 |
| **Feb-20** | $3806 | $10295 |
| **Aug-20** | $3444 | $11908 |
| **Feb-21** | $3994 | $13355 |
| **Aug-21** | $3994 | $15436 |
| **Feb-22** | $3994 | $14679 |
| **Aug-22** | $3994 | $13052 |
| **Feb-23** | $3994 | $13586 |
| **Aug-23** | $3994 | $15076 |
| **Feb-24** | $3994 | $16931 |
| **Aug-24** | $3994 | $18716 |
| **Feb-25** | $3926 | $19479 |
| **Aug-25** | $4308 | $21660 |
| **Feb-26** | $5247 | $24078 |

---

The chart above represents historical performance of a hypothetical investment of $10,000 in the Fund from inception (July 16, 2018). The result of this chart does not predict the results of future time periods and does not guarantee the same results.

## Average Annual Total Returns (%)

## Key Fund Statistics

---

| | |
|:---|:---|
| Total Net Assets | $404016928 |
| Number of Portfolio Holdings | 310 |
| Portfolio Turnover Rate | 92% |
| Advisory Fees Paid | $2474323 |

---

---

| | | | |
|:---|:---|:---|:---|
| Name | **1 Year** | **5 Years** | **Since Inception (07/16/2018)** |
| Class Z | 33.66% | 5.61% | -8.09% |
| FTSE All World Developed Index | 23.61% | 12.51% | 12.15% |

---

**The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. Call 1-877-771-7979 for current performance questions.**

## What did the Fund invest in?
The Fund will invest in the equity securities of large capitalization companies. The Fund employs a multi-manager sub-advised structure. The Adviser may also invest a portion of the Fund's assets in shares of exchange-traded funds (ETFs).

#### Sector Allocation

#### (% of Total Investments)

---

| | |
|:---|:---|
| Financial | 29.4% |
| Utilities | 18.2% |
| Energy | 15.3% |
| Basic Materials | 10.7% |
| Industrial | 10.2% |
| Exchange Traded Funds (ETFs) | 10.7% |
| Others | 3.8% |
| Short-Term Investments | 1.6% |
| Money Market Fund | 0.1% |
| Total | 100.0% |

---

#### Country Weightings

#### (% of Total Investments)

---

| | |
|:---|:---|
| United States | 59.9% |
| Canada | 8.6% |
| United Kingdom | 6.4% |
| Spain | 3.7% |
| Australia | 3.7% |
| Japan | 2.9% |
| Others | 13.1% |
| Short-Term Investments | 1.6% |
| Money Market Fund | 0.1% |
| Total | 100.0% |

---

#### Asset Class Weightings

#### (% of Total Investments)

---

| | |
|:---|:---|
| Common Stocks | 87.4% |
| Exchange Traded Funds (ETFs) | 10.7% |
| Limited Partnership | 0.1% |
| Closed-End Fund | 0.1% |
| Short-Term Investments | 1.6% |
| Money Market Fund | 0.1% |
| Total | 100.0% |

---

## Material Fund Changes
There were no material changes to the Fund.

## Change in or Disagreements with Accountants
There were no changes to or disagreements with our accountant.

## Householding
If you wish to receive a copy of this document at a new address, please call 1-877-771-7979.

## Additional Information
If you wish to view additional information about the Fund, including its prospectus, financial statements, holdings and proxy voting information, please visit http://destinationsfunds.com/.

Phone: 1-877-771-7979

![Image](i187a383d085dabb050186edc.jpg)

#### Destinations Real Assets Fund

#### Class Z

#### Annual Shareholder Report - February 28, 2026

#### DSA-TSR-BC12-Z
**Item 2. Code of Ethics.**

As of the period ended February 28, 2026 ("Reporting Period"), the Registrant has adopted a code of ethics ("Code") that applies to the Registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the Registrant or a third party. The Registrant has not amended any provision in its Code that relates to an element of the Code's definitions enumerated in paragraph (b) of Item 2 of this Form N-CSR. A copy of this Code is filed as an Exhibit to this Form N-CSR pursuant to Item 13(a)(1). The Registrant has not granted any waiver, including any implicit waiver, from a provision of its Code to the Registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the Registrant or a third party.

**Item 3. Audit Committee Financial Expert.**

The Board of Trustees of the Registrant has determined that Nicholas Marsini Jr. possesses the attributes identified in Instruction (b) of Item 3 to Form N-CSR to qualify as an "audit committee financial expert," and has designated Mr. Marsini as the Registrant's audit committee financial expert. Mr. Marsini is an "independent" Trustee pursuant to paragraph (a)(2) of Item 3 to Form N-CSR.

**Item 4. Principal Accountant Fees and Services.**

AUDIT FEES –

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Audit Fees</u> The aggregate fees billed for each of the last
 two fiscal years for professional services rendered by the principal accountant for the audit of the Registrant's annual financial
 statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements
 for those fiscal years were $470,500 for 2026 and $420,500 for 2025.

(b) <u>Audit Related Fees</u> The aggregate fees billed in each of the last
 two fiscal years for assurance and related services rendered to the Registrant by the principal accountant that are reasonably related
 to the performance of the audit of the Registrant's financial statements and are not reported under paragraph (a) of this Item were
 $0 for 2026 and $0 for 2025.

(c) <u>Tax Fees</u> The aggregate fees billed in each of the
 last two fiscal years for professional services rendered to the Registrant by the principal accountant for tax compliance, tax advice
 and tax planning were $102,550 for 2026 and $73,000 for 2025. These services consisted of (i) review or preparation of U.S. federal,
 state, local and excise tax returns; (ii) U.S. federal, state and local entity tax planning, advice and assistance regarding statutory,
 regulatory or administrative developments, and (iii) tax advice regarding tax qualification.

---

| | |
|:---|:---|
| (d) | <u>All Other Fees</u><br> The aggregate fees billed in each of the last two fiscal years for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) of this Item were $0 for 2026 and $0 for 2025. |
| (e)(1) | The Charter for the Audit Committee ("Committee") of the Brinker Capital Destinations Trust provides that the Committee may pre-approve all audit and permitted non-audit services the independent auditor provides to a Fund, and all services that the independent auditor provides to the Fund's investment adviser(s) and advisory affiliates (whether or not directly related to the Fund's operations and financial reporting); except that (a) services provided to a sub-adviser whose role is primarily portfolio management and is sub-contracted or overseen by another investment adviser, and (b) de minimis non-audit services, shall not require pre-approval. |
| (e)(2) | The percentage of services described in each of paragraphs (b) through (d) of this Item that were approved by the audit committee pursuant to paragraph (c)(7)(i)(c) of Rule 2-01 of Regulation S-X, with respect to: Audit-Related Fees were 0% for 2026 and 0% for 2025; Tax Fees were 0% for 2026 and 0% for 2025; and Other Fees were 0% for 2026 and 0% for 2025. |
| (f) | Not applicable. |
| (g) | The aggregate non-audit fees billed by the Registrant's accountant for services rendered to the Registrant, and rendered to the Registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the Registrant for each of the last two fiscal years of the Registrant were $0 for 2026 and $0 for 2025. |
| (h) | The Registrant's audit committee has considered whether the provision of non-audit services that were rendered to the Registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the Registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant's independence. |
| (i)<br>| A registrant identified by the Commission pursuant to Section 104(i)(2)(A) of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7214(i)(2)(A)), as having retained, for the preparation of the audit report on its financial statements included in the Form N-CSR, a registered public accounting firm that has a branch or office that is located in a foreign jurisdiction and that the Public Company Accounting Oversight Board has determined it is unable to inspect or investigate completely because of a position taken by an authority in the foreign jurisdiction must electronically submit to the Commission on a supplemental basis documentation that establishes that the registrant is not owned or controlled by a governmental entity in the foreign jurisdiction. The registrant must submit this documentation on or before the due date for this form. A registrant that is owned or controlled by a foreign governmental entity is not required to submit such documentation.<br> Not Applicable. |
| (j)<br>| A registrant that is a foreign issuer, as defined in 17 CFR 240.3b-4, identified by the Commission pursuant to Section 104(i)(2)(A) of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7214(i)(2)(A)), as having retained, for the preparation of the audit report on its financial statements included in the Form N-CSR, a registered public accounting firm that has a branch or office that is located in a foreign jurisdiction and that the Public Accounting Oversight Board has determined it is unable to inspect or investigate completely because of a position taken by an authority in the foreign jurisdiction.<br> Not Applicable. |

---

**Item 5. Audit Committee of Listed Registrants.**

Not applicable.

**Item 6. Investments.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) A Schedule of Investments in securities of unaffiliated issuers
 as of the close of the Reporting Period is included as part of the report to shareholders filed under Item 7 of this Form N-CSR.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable.

**Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.**

![](brinker_f_cover_new.jpg)

Annual Report

February 28, 2026

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

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

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

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

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

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

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

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

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

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

Destinations Real Assets Fund Class / Ticker : I / DRAFX, Z / DRAZX

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

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

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

www.destinationsfunds.com // 877.771.7979

------

**Table of Contents** 

---

| | |
|:---|:---|
| **[Schedule of Investments](#soi1)** | **[1](#soi1)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[DESTINATIONS LARGE CAP EQUITY FUND](#soi1)** | **[1](#soi1)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[DESTINATIONS SMALL-MID CAP EQUITY FUND](#soi2)** | **[13](#soi2)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[DESTINATIONS INTERNATIONAL EQUITY FUND](#soi4)** | **[84](#soi4)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[DESTINATIONS EQUITY INCOME FUND](#soi3)** | **[129](#soi3)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[DESTINATIONS CORE FIXED INCOME FUND](#soi6)** | **[138](#soi6)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[DESTINATIONS LOW DURATION FIXED INCOME FUND](#soi7)** | **[202](#soi7)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[DESTINATIONS GLOBAL FIXED INCOME OPPORTUNITIES FUND](#soi8)** | **[223](#soi8)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[DESTINATIONS MUNICIPAL FIXED INCOME FUND](#soi10)** | **[247](#soi10)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[DESTINATIONS MULTI STRATEGY ALTERNATIVES FUND](#soi9)** | **[267](#soi9)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[DESTINATIONS SHELTER FUND](#soi11)** | **[282](#soi11)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[DESTINATIONS REAL ASSETS FUND](#soi12)** | **[291](#soi12)** |
| **[Statements of Assets and Liabilities](#sal)** | **[303](#sal)** |
| **[Statements of Operations](#sop)** | **[305](#sop)** |
| **[Statements of Changes in Net Assets](#scna)** | **[308](#scna)** |
| **[Financial Highlights](#fihi)** | **[311](#fihi)** |
| **[Notes to Financial Statements](#notes)** | **[333](#notes)** |
| **[REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM](#rep1)** | **[380](#rep1)** |
| &nbsp;&nbsp;&nbsp; **[BOARD APPROVAL OF MANAGEMENT AGREEMENT AND INVESTMENT ADVISORY](#board)**<br> **[AGREEMENTS (unaudited)](#board)** | **[381](#board)** |
| **[ADDITIONAL INFORMATION (unaudited)](#add)** | **[386](#add)** |
| **[IMPORTANT TAX INFORMATION (unaudited)](#tax)** | **[391](#tax)** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Large Cap Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – 92.8%**  | **COMMON STOCKS – 92.8%**  | **COMMON STOCKS – 92.8%**  |
| **BASIC MATERIALS – 1.5%**  | **BASIC MATERIALS – 1.5%**  | **BASIC MATERIALS – 1.5%**  |
| **Chemicals – 0.7%**  | **Chemicals – 0.7%**  | **Chemicals – 0.7%**  |
| 3567 | Air Products & Chemicals Inc. | $983315  |
| 83788 | Celanese Corp., Class A Shares | 4184373  |
| 4016 | Ecolab Inc.  | 1238334  |
| 32556 | Linde PLC | 16541052  |
| 3728 | Sherwin-Williams Co.  | 1351736  |
| 2573 | Solstice Advanced Materials Inc.  | 202006  |
|  | Total Chemicals | 24500816  |
| **Forest Products & Paper – 0.2%**  | **Forest Products & Paper – 0.2%**  | **Forest Products & Paper – 0.2%**  |
| 152264 | International Paper Co.  | 6631097  |
| **Mining – 0.6%**  | **Mining – 0.6%**  | **Mining – 0.6%**  |
| 121799 | Freeport-McMoRan Inc.  | 8292076  |
| 106845 | Newmont Corp.  | 13889850  |
| 1304 | Southern Copper Corp.  | 284663  |
|  | Total Mining | 22466589  |
|  | **TOTAL BASIC MATERIALS** | **53598502**  |
| **COMMUNICATIONS – 13.6%**  | **COMMUNICATIONS – 13.6%**  | **COMMUNICATIONS – 13.6%**  |
| **Advertising – 0.6%**  | **Advertising – 0.6%**  | **Advertising – 0.6%**  |
| 189633 | Omnicom Group Inc.  | 16173798  |
| 178285 | Trade Desk Inc., Class A Shares<sup>\*</sup> | 4246749  |
|  | Total Advertising | 20420547  |
| **Internet – 10.0%**  | **Internet – 10.0%**  | **Internet – 10.0%**  |
| 19699 | Airbnb Inc., Class A Shares<sup>\*</sup> | 2661532  |
| 380444 | Alphabet Inc., Class A Shares | 118607221  |
| 76127 | Alphabet Inc., Class C Shares | 23708232  |
| 428035 | Amazon.com Inc.<sup>\*</sup> | 89887350  |
| 7449 | AppLovin Corp., Class A Shares<sup>\*</sup> | 3238602  |
| 1706 | Booking Holdings Inc.  | 7232331  |
| 5780 | DoorDash Inc., Class A Shares<sup>\*</sup> | 1019997  |
| 34432 | eBay Inc.  | 3128491  |
| 46207 | Maplebear Inc.<sup>\*</sup> | 1733225  |
| 114147 | Meta Platforms Inc., Class A Shares | 73987802  |
| 93461 | Netflix Inc.<sup>\*</sup> | 8994687  |
| 18706 | Palo Alto Networks Inc.<sup>\*</sup> | 2785697  |
| 45493 | Pinterest Inc., Class A Shares<sup>\*</sup> | 779295  |
| 9710 | Reddit Inc., Class A Shares<sup>\*</sup> | 1415815  |
| 2460 | Spotify Technology SA<sup>\*</sup> | 1266752  |
| 28869 | TripAdvisor Inc.<sup>\*</sup> | 291866  |
| 114373 | Uber Technologies Inc.<sup>\*</sup> | 8626012  |
| 4303 | Wayfair Inc., Class A Shares<sup>\*</sup> | 328448  |
|  | Total Internet | 349693355  |

---

See Notes to Financial Statements.

1<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Large Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **COMMUNICATIONS – (continued)**  | **COMMUNICATIONS – (continued)**  | **COMMUNICATIONS – (continued)**  |
| **Media – 1.2%**  | **Media – 1.2%**  | **Media – 1.2%**  |
| 58093 | Comcast Corp., Class A Shares | $1798559  |
| 2323 | Versant Media Group Inc.<sup>\*</sup> | 77402  |
| 369760 | Walt Disney Co.  | 39209351  |
|  | Total Media | 41085312  |
| **Telecommunications – 1.8%**  | **Telecommunications – 1.8%**  | **Telecommunications – 1.8%**  |
| 39916 | Arista Networks Inc.<sup>\*</sup> | 5328786  |
| 438499 | AT&T Inc.  | 12282357  |
| 371325 | Cisco Systems Inc.  | 29505485  |
| 2692 | Motorola Solutions Inc.  | 1298244  |
| 7726 | T-Mobile US Inc.  | 1677237  |
| 255714 | Verizon Communications Inc.  | 12821500  |
|  | Total Telecommunications | 62913609  |
|  | **TOTAL COMMUNICATIONS** | **474112823**  |
| **CONSUMER CYCLICAL – 9.2%**  | **CONSUMER CYCLICAL – 9.2%**  | **CONSUMER CYCLICAL – 9.2%**  |
| **Airlines – 0.6%**  | **Airlines – 0.6%**  | **Airlines – 0.6%**  |
| 297738 | Delta Air Lines Inc.  | 19561386  |
| 6100 | Southwest Airlines Co.  | 300486  |
|  | Total Airlines | 19861872  |
| **Apparel – 0.6%**  | **Apparel – 0.6%**  | **Apparel – 0.6%**  |
| 11748 | Deckers Outdoor Corp.<sup>\*</sup> | 1377688  |
| 150190 | LVMH Moet Hennessy Louis Vuitton SE, ADR<sup>(a)</sup> | 19179263  |
| 18627 | NIKE Inc., Class B Shares | 1158227  |
|  | Total Apparel | 21715178  |
| **Auto Manufacturers – 1.2%**  | **Auto Manufacturers – 1.2%**  | **Auto Manufacturers – 1.2%**  |
| 265878 | Ford Motor Co.  | 3746221  |
| 61854 | General Motors Co.  | 4868528  |
| 8300 | PACCAR Inc.  | 1046547  |
| 76507 | Tesla Inc.<sup>\*</sup> | 30794833  |
|  | Total Auto Manufacturers | 40456129  |
| **Distribution/Wholesale – 0.3%**  | **Distribution/Wholesale – 0.3%**  | **Distribution/Wholesale – 0.3%**  |
| 234142 | Copart Inc.<sup>\*</sup> | 8918469  |
| **Entertainment – 0.7%**  | **Entertainment – 0.7%**  | **Entertainment – 0.7%**  |
| 2306478 | Universal Music Group NV, ADR<sup>(a)</sup> | 25924813  |
| **Home Builders – 0.3%**  | **Home Builders – 0.3%**  | **Home Builders – 0.3%**  |
| 100898 | Lennar Corp., Class A Shares | 11538695  |
| **Home Furnishings – 0.2%**  | **Home Furnishings – 0.2%**  | **Home Furnishings – 0.2%**  |
| 91470 | Dolby Laboratories Inc., Class A Shares | 6089158  |
| **Leisure Time – 0.3%**  | **Leisure Time – 0.3%**  | **Leisure Time – 0.3%**  |
| 115553 | Viking Holdings Ltd.<sup>\*</sup> | 9015445  |

---

See Notes to Financial Statements.

2<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Large Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER CYCLICAL – (continued)**  | **CONSUMER CYCLICAL – (continued)**  | **CONSUMER CYCLICAL – (continued)**  |
| **Lodging – 0.1%**  | **Lodging – 0.1%**  | **Lodging – 0.1%**  |
| 73069 | Las Vegas Sands Corp.  | $4144474  |
| 3592 | Marriott International Inc., Class A Shares | 1227494  |
|  | Total Lodging | 5371968  |
| **Retail – 4.9%**  | **Retail – 4.9%**  | **Retail – 4.9%**  |
| 265 | AutoZone Inc.<sup>\*</sup> | 995229  |
| 412553 | BJ's Wholesale Club Holdings Inc.<sup>\*</sup> | 40756111  |
| 5981 | Casey's General Stores Inc.  | 4100514  |
| 71052 | Cava Group Inc.<sup>\*</sup> | 5859658  |
| 194082 | Chipotle Mexican Grill Inc., Class A Shares<sup>\*</sup> | 7223732  |
| 26736 | Costco Wholesale Corp.  | 27024481  |
| 749 | Domino's Pizza Inc.  | 301480  |
| 21080 | Ferguson Enterprises Inc.  | 5496821  |
| 32138 | Five Below Inc.<sup>\*</sup> | 7183807  |
| 16011 | Home Depot Inc.  | 6095708  |
| 67265 | Lithia Motors Inc., Class A Shares | 18805949  |
| 46830 | Lowe's Cos., Inc.  | 12389813  |
| 21469 | Lululemon Athletica Inc.<sup>\*</sup> | 3975415  |
| 11506 | McDonald's Corp.  | 3924236  |
| 107592 | O'Reilly Automotive Inc.<sup>\*</sup> | 10100737  |
| 18321 | Starbucks Corp.  | 1795824  |
| 7273 | Target Corp.  | 827595  |
| 24257 | TJX Cos., Inc.  | 3921387  |
| 3923 | Ulta Beauty Inc.<sup>\*</sup> | 2686431  |
| 75070 | Walmart Inc.  | 9605206  |
|  | Total Retail | 173070134  |
|  | **TOTAL CONSUMER CYCLICAL** | **321961861**  |
| **CONSUMER NON-CYCLICAL – 12.5%**  | **CONSUMER NON-CYCLICAL – 12.5%**  | **CONSUMER NON-CYCLICAL – 12.5%**  |
| **Agriculture – 0.2%**  | **Agriculture – 0.2%**  | **Agriculture – 0.2%**  |
| 27100 | Altria Group Inc.  | 1870984  |
| 25085 | Philip Morris International Inc.  | 4686631  |
|  | Total Agriculture | 6557615  |
| **Beverages – 0.7%**  | **Beverages – 0.7%**  | **Beverages – 0.7%**  |
| 62587 | Coca-Cola Co.  | 5104596  |
| 20800 | Keurig Dr Pepper Inc.  | 629824  |
| 154103 | Monster Beverage Corp.<sup>\*</sup> | 13144986  |
| 22091 | PepsiCo Inc.  | 3749726  |
|  | Total Beverages | 22629132  |
| **Biotechnology – 0.9%**  | **Biotechnology – 0.9%**  | **Biotechnology – 0.9%**  |
| 2011 | Alnylam Pharmaceuticals Inc.<sup>\*</sup> | 669502  |
| 13242 | Amgen Inc.  | 5140015  |
| 68530 | Gilead Sciences Inc.  | 10207543  |
| 19428 | Illumina Inc.<sup>\*</sup> | 2612289  |

---

See Notes to Financial Statements.

3<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Large Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  |
| **Biotechnology – (continued)**  | **Biotechnology – (continued)**  | **Biotechnology – (continued)**  |
| 22822 | Incyte Corp.<sup>\*</sup> | $2311184  |
| 7724 | Regeneron Pharmaceuticals Inc.  | 6037619  |
| 14327 | Sarepta Therapeutics Inc.<sup>\*</sup> | 240121  |
| 7464 | Vertex Pharmaceuticals Inc.<sup>\*</sup> | 3708339  |
|  | Total Biotechnology | 30926612  |
| **Commercial Services – 0.6%**  | **Commercial Services – 0.6%**  | **Commercial Services – 0.6%**  |
| 6576 | Automatic Data Processing Inc.  | 1409632  |
| 5500 | Cintas Corp.  | 1106215  |
| 2514 | Moody's Corp.  | 1200661  |
| 15089 | PayPal Holdings Inc.  | 697263  |
| 4872 | S&P Global Inc.  | 2152839  |
| 131570 | StoneCo Ltd., Class A Shares<sup>\*</sup> | 2210376  |
| 87657 | TransUnion | 6885457  |
| 23450 | Verisk Analytics Inc., Class A Shares | 4867517  |
|  | Total Commercial Services | 20529960  |
| **Cosmetics/Personal Care – 0.9%**  | **Cosmetics/Personal Care – 0.9%**  | **Cosmetics/Personal Care – 0.9%**  |
| 170023 | Colgate-Palmolive Co.  | 16856080  |
| 82717 | Estee Lauder Cos., Inc., Class A Shares | 9055030  |
| 37785 | Procter & Gamble Co.  | 6317652  |
|  | Total Cosmetics/Personal Care | 32228762  |
| **Food – 0.6%**  | **Food – 0.6%**  | **Food – 0.6%**  |
| 282977 | Kroger Co.  | 19310350  |
| 20869 | Mondelez International Inc., Class A Shares | 1285113  |
|  | Total Food | 20595463  |
| **Healthcare-Products – 2.6%**  | **Healthcare-Products – 2.6%**  | **Healthcare-Products – 2.6%**  |
| 27875 | Abbott Laboratories | 3243256  |
| 88451 | Agilent Technologies Inc.  | 10736182  |
| 67004 | Alcon AG | 5841409  |
| 23720 | Boston Scientific Corp.<sup>\*</sup> | 1822882  |
| 26591 | Danaher Corp.  | 5601128  |
| 91819 | Edwards Lifesciences Corp.<sup>\*</sup> | 7939589  |
| 145816 | GE HealthCare Technologies Inc.  | 12287914  |
| 17002 | IDEXX Laboratories Inc.<sup>\*</sup> | 11165724  |
| 6341 | Intuitive Surgical Inc.<sup>\*</sup> | 3192757  |
| 117738 | Medtronic PLC | 11498293  |
| 5530 | Stryker Corp.  | 2142654  |
| 27562 | Thermo Fisher Scientific Inc.  | 14362834  |
|  | Total Healthcare-Products | 89834622  |
| **Healthcare-Services – 2.1%**  | **Healthcare-Services – 2.1%**  | **Healthcare-Services – 2.1%**  |
| 4288 | Cigna Group | 1242748  |
| 37759 | Elevance Health Inc.  | 12082880  |
| 2606 | HCA Healthcare Inc.  | 1380398  |

---

See Notes to Financial Statements.

4<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Large Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  |
| **Healthcare-Services – (continued)**  | **Healthcare-Services – (continued)**  | **Healthcare-Services – (continued)**  |
| 99847 | Labcorp Holdings Inc.  | $28867765  |
| 104942 | UnitedHealth Group Inc.  | 30776340  |
|  | Total Healthcare-Services | 74350131  |
| **Household Products/Wares – 0.0%**  | **Household Products/Wares – 0.0%**  | **Household Products/Wares – 0.0%**  |
| 5373 | Kimberly-Clark Corp.  | 598767  |
| **Pharmaceuticals – 3.9%**  | **Pharmaceuticals – 3.9%**  | **Pharmaceuticals – 3.9%**  |
| 84636 | AbbVie Inc.  | 19642323  |
| 84458 | Becton Dickinson & Co.  | 14905148  |
| 172822 | Bristol-Myers Squibb Co.  | 10778908  |
| 14377 | Cardinal Health Inc.  | 3295640  |
| 13834 | Cencora Inc.  | 5148185  |
| 20200 | CVS Health Corp.  | 1613980  |
| 2850 | DexCom Inc.<sup>\*</sup> | 209275  |
| 22995 | Eli Lilly & Co.  | 24190510  |
| 25811 | Jazz Pharmaceuticals PLC<sup>\*</sup> | 4904606  |
| 133800 | Johnson & Johnson | 33239934  |
| 2003 | McKesson Corp.  | 1977702  |
| 40577 | Merck & Co., Inc.  | 5024244  |
| 392883 | Pfizer Inc.  | 10863215  |
| 7215 | Zoetis Inc., Class A Shares | 945887  |
|  | Total Pharmaceuticals | 136739557  |
|  | **TOTAL CONSUMER NON-CYCLICAL** | **434990621**  |
| **ENERGY – 3.6%**  | **ENERGY – 3.6%**  | **ENERGY – 3.6%**  |
| **Oil & Gas – 3.2%**  | **Oil & Gas – 3.2%**  | **Oil & Gas – 3.2%**  |
| 30158 | Chevron Corp.  | 5632308  |
| 20226 | ConocoPhillips | 2294842  |
| 46830 | Diamondback Energy Inc.  | 8152166  |
| 130232 | EOG Resources Inc.  | 16159187  |
| 86220 | EQT Corp.  | 5295632  |
| 44540 | Expand Energy Corp.  | 4806757  |
| 229337 | Exxon Mobil Corp.  | 34973893  |
| 54692 | Marathon Petroleum Corp.  | 10840501  |
| 427855 | Permian Resources Corp., Class A Shares | 7825468  |
| 37739 | Phillips 66 | 5824260  |
| 36375 | Valero Energy Corp.  | 7443780  |
| 16178 | Weatherford International PLC | 1706132  |
|  | Total Oil & Gas | 110954926  |
| **Oil & Gas Services – 0.3%**  | **Oil & Gas Services – 0.3%**  | **Oil & Gas Services – 0.3%**  |
| 223432 | SLB Ltd. | 11470999  |
| **Pipelines – 0.1%**  | **Pipelines – 0.1%**  | **Pipelines – 0.1%**  |
| 19600 | Williams Cos., Inc.  | 1464512  |
|  | **TOTAL ENERGY** | **123890437**  |

---

See Notes to Financial Statements.

5<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Large Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **FINANCIAL – 16.8%**  | **FINANCIAL – 16.8%**  | **FINANCIAL – 16.8%**  |
| **Banks – 4.6%**  | **Banks – 4.6%**  | **Banks – 4.6%**  |
| 306446 | Bank of America Corp.  | $15270204  |
| 31687 | Bank of New York Mellon Corp.  | 3773922  |
| 138500 | Citigroup Inc.  | 15261315  |
| 263679 | Fifth Third Bancorp | 13044200  |
| 11362 | First Citizens BancShares Inc., Class A Shares | 21566780  |
| 344401 | First Horizon Corp.  | 8193300  |
| 16794 | Goldman Sachs Group Inc.  | 14435618  |
| 126712 | JPMorgan Chase & Co.  | 38051614  |
| 98596 | Morgan Stanley | 16417220  |
| 53700 | NU Holdings Ltd., Class A Shares<sup>\*</sup> | 804426  |
| 6338 | PNC Financial Services Group Inc.  | 1345874  |
| 173648 | Truist Financial Corp.  | 8562583  |
| 25163 | US Bancorp | 1375410  |
| 50630 | Wells Fargo & Co.  | 4123813  |
|  | Total Banks | 162226279  |
| **Diversified Financial Services – 3.6%**  | **Diversified Financial Services – 3.6%**  | **Diversified Financial Services – 3.6%**  |
| 69396 | American Express Co.  | 21436424  |
| 1116 | Ameriprise Financial Inc.  | 524654  |
| 6600 | Apollo Global Management Inc.  | 690360  |
| 74880 | Ares Management Corp., Class A Shares | 8387309  |
| 2457 | Blackrock Inc.  | 2612356  |
| 6200 | Brookfield Asset Management Ltd., Class A Shares | 289850  |
| 39239 | Capital One Financial Corp.  | 7676718  |
| 154294 | Charles Schwab Corp.  | 14688789  |
| 27692 | CME Group Inc., Class A Shares | 8847594  |
| 6900 | Interactive Brokers Group Inc., Class A Shares | 491211  |
| 9195 | Intercontinental Exchange Inc.  | 1509175  |
| 73279 | Mastercard Inc., Class A Shares | 37900632  |
| 32984 | Visa Inc., Class A Shares | 10559498  |
| 107045 | Voya Financial Inc.  | 7159170  |
| 111129 | Western Union Co.  | 1070172  |
|  | Total Diversified Financial Services | 123843912  |
| **Equity Real Estate Investment Trusts (REITs) – 1.1%**  | **Equity Real Estate Investment Trusts (REITs) – 1.1%**  | **Equity Real Estate Investment Trusts (REITs) – 1.1%**  |
| 7511 | American Tower Corp.  | 1441060  |
| 1558 | Equinix Inc.  | 1517897  |
| 161204 | Mid-America Apartment Communities Inc.  | 21578767  |
| 14963 | Prologis Inc.  | 2133275  |
| 2558 | Public Storage | 785460  |
| 11100 | Welltower Inc.  | 2299032  |
| 406849 | Weyerhaeuser Co.  | 9980006  |
|  | Total Equity Real Estate Investment Trusts (REITs) | 39735497  |

---

See Notes to Financial Statements.

6<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Large Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  |
| **Insurance – 6.9%**  | **Insurance – 6.9%**  | **Insurance – 6.9%**  |
| 7700 | Aflac Inc.  | $869561  |
| 128059 | American International Group Inc.  | 10307469  |
| 47848 | Aon PLC, Class A Shares | 16051569  |
| 3570 | Arch Capital Group Ltd.<sup>\*</sup> | 357535  |
| 4100 | Arthur J Gallagher & Co.  | 935620  |
| 95344 | Assurant Inc.  | 21890029  |
| 190618 | Berkshire Hathaway Inc., Class B Shares<sup>\*</sup> | 96252559  |
| 32666 | Chubb Ltd. | 11134533  |
| 10728 | Fairfax Financial Holdings Ltd.<sup>(a)</sup> | 18462728  |
| 50013 | Hartford Insurance Group Inc.  | 7043331  |
| 7927 | Marsh & McLennan Cos., Inc.  | 1480288  |
| 9029 | MetLife Inc.  | 650720  |
| 86669 | Progressive Corp.  | 18517699  |
| 3593 | Travelers Cos., Inc.  | 1108943  |
| 115738 | Willis Towers Watson PLC | 35319765  |
|  | Total Insurance | 240382349  |
| **Private Equity – 0.6%**  | **Private Equity – 0.6%**  | **Private Equity – 0.6%**  |
| 11900 | Blackstone Inc.  | 1349103  |
| 193272 | Brookfield Corp.  | 8473045  |
| 173792 | Carlyle Group Inc.  | 9035446  |
| 10900 | KKR & Co., Inc.  | 955712  |
|  | Total Private Equity | 19813306  |
|  | **TOTAL FINANCIAL** | **586001343**  |
| **INDUSTRIAL – 9.3%**  | **INDUSTRIAL – 9.3%**  | **INDUSTRIAL – 9.3%**  |
| **Aerospace/Defense – 1.5%**  | **Aerospace/Defense – 1.5%**  | **Aerospace/Defense – 1.5%**  |
| 11987 | Boeing Co.<sup>\*</sup> | 2727402  |
| 4048 | General Dynamics Corp.  | 1445338  |
| 31964 | General Electric Co.  | 10939999  |
| 16188 | Howmet Aerospace Inc.  | 4249836  |
| 38194 | L3Harris Technologies Inc.  | 13923241  |
| 18455 | Lockheed Martin Corp.  | 12144866  |
| 2200 | Northrop Grumman Corp.  | 1593636  |
| 21534 | RTX Corp.  | 4363219  |
| 886 | TransDigm Group Inc.  | 1154272  |
|  | Total Aerospace/Defense | 52541809  |
| **Building Materials – 2.1%**  | **Building Materials – 2.1%**  | **Building Materials – 2.1%**  |
| 310562 | Amrize Ltd.<sup>\*</sup> | 20183424  |
| 41484 | Carlisle Cos., Inc.  | 16376639  |
| 12600 | Carrier Global Corp.  | 811440  |
| 181471 | CRH PLC | 21772890  |

---

See Notes to Financial Statements.

7<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Large Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **INDUSTRIAL – (continued)**  | **INDUSTRIAL – (continued)**  | **INDUSTRIAL – (continued)**  |
| **Building Materials – (continued)**  | **Building Materials – (continued)**  | **Building Materials – (continued)**  |
| 10635 | Johnson Controls International PLC | $1534630  |
| 11780 | Martin Marietta Materials Inc.  | 7969995  |
| 8562 | Trane Technologies PLC | 3958384  |
|  | Total Building Materials | 72607402  |
| **Electrical Components & Equipment – 0.3%**  | **Electrical Components & Equipment – 0.3%**  | **Electrical Components & Equipment – 0.3%**  |
| 5238 | Acuity Inc.  | 1579728  |
| 6300 | Eaton Corp. PLC | 2368296  |
| 53541 | Emerson Electric Co.  | 8071306  |
|  | Total Electrical Components & Equipment | 12019330  |
| **Electronics – 1.1%**  | **Electronics – 1.1%**  | **Electronics – 1.1%**  |
| 73654 | Amphenol Corp., Class A Shares | 10757903  |
| 59356 | Honeywell International Inc.  | 14458528  |
| 15250 | Hubbell Inc., Class B Shares | 7802358  |
| 18161 | TE Connectivity PLC | 4179754  |
|  | Total Electronics | 37198543  |
| **Environmental Control – 0.4%**  | **Environmental Control – 0.4%**  | **Environmental Control – 0.4%**  |
| 3300 | Republic Services Inc., Class A Shares | 755700  |
| 129494 | Veralto Corp.  | 12616600  |
| 5921 | Waste Management Inc.  | 1426014  |
|  | Total Environmental Control | 14798314  |
| **Machinery-Construction & Mining – 0.9%**  | **Machinery-Construction & Mining – 0.9%**  | **Machinery-Construction & Mining – 0.9%**  |
| 18285 | Caterpillar Inc.  | 13582647  |
| 18533 | GE Vernova Inc.  | 16190429  |
| 2043 | Vertiv Holdings Co., Class A Shares | 520740  |
|  | Total Machinery-Construction & Mining | 30293816  |
| **Machinery-Diversified – 0.6%**  | **Machinery-Diversified – 0.6%**  | **Machinery-Diversified – 0.6%**  |
| 21221 | Deere & Co.  | 13363076  |
| 29517 | Dover Corp.  | 6656083  |
|  | Total Machinery-Diversified | 20019159  |
| **Metal Fabricate/Hardware – 0.1%**  | **Metal Fabricate/Hardware – 0.1%**  | **Metal Fabricate/Hardware – 0.1%**  |
| 25536 | Mueller Industries Inc.  | 3012226  |
| **Miscellaneous Manufacturers – 0.1%**  | **Miscellaneous Manufacturers – 0.1%**  | **Miscellaneous Manufacturers – 0.1%**  |
| 8600 | 3M Co.  | 1421752  |
| 4654 | Illinois Tool Works Inc.  | 1352592  |
| 2020 | Parker-Hannifin Corp.  | 2038544  |
|  | Total Miscellaneous Manufacturers | 4812888  |
| **Packaging & Containers – 0.2%**  | **Packaging & Containers – 0.2%**  | **Packaging & Containers – 0.2%**  |
| 35413 | Packaging Corp. of America | 8220774  |
| **Transportation – 2.0%**  | **Transportation – 2.0%**  | **Transportation – 2.0%**  |
| 51324 | CH Robinson Worldwide Inc.  | 9507771  |
| 366524 | CSX Corp.  | 15646910  |
| 24703 | FedEx Corp.  | 9560061  |

---

See Notes to Financial Statements.

8<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Large Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **INDUSTRIAL – (continued)**  | **INDUSTRIAL – (continued)**  | **INDUSTRIAL – (continued)**  |
| **Transportation – (continued)**  | **Transportation – (continued)**  | **Transportation – (continued)**  |
| 3649 | Norfolk Southern Corp.  | $1148486  |
| 126503 | Union Pacific Corp.  | 33520765  |
| 11779 | United Parcel Service Inc., Class B Shares | 1365893  |
|  | Total Transportation | 70749886  |
|  | **TOTAL INDUSTRIAL** | **326274147**  |
| **TECHNOLOGY – 25.2%**  | **TECHNOLOGY – 25.2%**  | **TECHNOLOGY – 25.2%**  |
| **Computers – 6.2%**  | **Computers – 6.2%**  | **Computers – 6.2%**  |
| 10114 | Accenture PLC, Class A Shares | 2110994  |
| 687067 | Apple Inc.  | 181509360  |
| 11831 | CACI International Inc., Class A Shares<sup>\*</sup> | 7218921  |
| 8936 | Crowdstrike Holdings Inc., Class A Shares<sup>\*</sup> | 3324013  |
| 22896 | Dell Technologies Inc., Class C Shares | 3390440  |
| 9034 | EPAM Systems Inc.<sup>\*</sup> | 1273794  |
| 19527 | Fortinet Inc.<sup>\*</sup> | 1543219  |
| 19539 | Gartner Inc.<sup>\*</sup> | 3071531  |
| 38581 | International Business Machines Corp.  | 9267542  |
| 15110 | NetApp Inc.  | 1496343  |
| 22092 | Pure Storage Inc., Class A Shares<sup>\*</sup> | 1418748  |
| 6258 | Zscaler Inc.<sup>\*</sup> | 919864  |
|  | Total Computers | 216544769  |
| **Semiconductors – 11.4%**  | **Semiconductors – 11.4%**  | **Semiconductors – 11.4%**  |
| 93886 | Advanced Micro Devices Inc.<sup>\*</sup> | 18796916  |
| 8014 | Analog Devices Inc.  | 2851301  |
| 59510 | Applied Materials Inc.  | 22155573  |
| 257505 | Broadcom Inc.  | 82285723  |
| 189749 | Intel Corp.<sup>\*</sup> | 8654452  |
| 3369 | KLA Corp.  | 5136209  |
| 20210 | Lam Research Corp.  | 4726917  |
| 13900 | Marvell Technology Inc.  | 1135491  |
| 18027 | Micron Technology Inc.  | 7433794  |
| 1191280 | NVIDIA Corp.  | 211082903  |
| 18546 | QUALCOMM Inc.  | 2640208  |
| 22638 | Teradyne Inc.  | 7244839  |
| 116018 | Texas Instruments Inc.  | 24608578  |
|  | Total Semiconductors | 398752904  |
| **Software – 7.6%**  | **Software – 7.6%**  | **Software – 7.6%**  |
| 34650 | Adobe Inc.<sup>\*</sup> | 9092507  |
| 86042 | Akamai Technologies Inc.<sup>\*</sup> | 8465672  |
| 16444 | Atlassian Corp., Class A Shares<sup>\*</sup> | 1235438  |
| 5733 | Autodesk Inc.<sup>\*</sup> | 1409573  |
| 4985 | Cadence Design Systems Inc.<sup>\*</sup> | 1502479  |
| 3072 | DocuSign Inc., Class A Shares<sup>\*</sup> | 138455  |

---

See Notes to Financial Statements.

9<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Large Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **TECHNOLOGY – (continued)**  | **TECHNOLOGY – (continued)**  | **TECHNOLOGY – (continued)**  |
| **Software – (continued)**  | **Software – (continued)**  | **Software – (continued)**  |
| 5692 | Duolingo Inc., Class A Shares<sup>\*</sup> | $574892  |
| 237028 | Fiserv Inc.<sup>\*</sup> | 14764474  |
| 41405 | Intuit Inc.  | 16935887  |
| 835 | Magic Leap Inc., Series D, Private Placement<sup>\*@(a)(b)</sup> | 2772  |
| 354725 | Microsoft Corp.  | 139314697  |
| 5599 | MongoDB Inc., Class A Shares<sup>\*</sup> | 1839104  |
| 1714 | MSCI Inc., Class A Shares | 980117  |
| 34173 | Oracle Corp.  | 4968754  |
| 99983 | Palantir Technologies Inc., Class A Shares<sup>\*</sup> | 13716668  |
| 21207 | Paycom Software Inc.  | 2668477  |
| 1717 | Roper Technologies Inc.  | 600486  |
| 43271 | Salesforce Inc.  | 8428758  |
| 120449 | ServiceNow Inc.<sup>\*</sup> | 13009696  |
| 59151 | Snowflake Inc., Class A Shares<sup>\*</sup> | 9961620  |
| 4320 | Strategy Inc., Class A Shares<sup>\*</sup> | 559440  |
| 2967 | Synopsys Inc.<sup>\*</sup> | 1228338  |
| 11141 | Tyler Technologies Inc.<sup>\*</sup> | 3951601  |
| 39397 | Veeva Systems Inc., Class A Shares<sup>\*</sup> | 7170648  |
| 22461 | Workday Inc., Class A Shares<sup>\*</sup> | 3004383  |
| 67314 | ZoomInfo Technologies Inc., Class A Shares<sup>\*</sup> | 418020  |
|  | Total Software | 265942956  |
|  | **TOTAL TECHNOLOGY** | **881240629**  |
| **UTILITIES – 1.1%**  | **UTILITIES – 1.1%**  | **UTILITIES – 1.1%**  |
| **Electric – 1.1%**  | **Electric – 1.1%**  | **Electric – 1.1%**  |
| 8565 | American Electric Power Co., Inc.  | 1146168  |
| 85773 | Constellation Energy Corp.  | 28294797  |
| 13705 | Dominion Energy Inc.  | 865334  |
| 12542 | Duke Energy Corp.  | 1641121  |
| 33546 | NextEra Energy Inc.  | 3145608  |
| 10506 | Sempra | 1011413  |
| 17777 | Southern Co.  | 1731124  |
|  | Total Electric | 37835565  |
|  | **TOTAL UTILITIES** | **37835565**  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS**<br>**(Cost – $2,507,869,121)** | **3239905928**  |
| **EXCHANGE TRADED FUNDS (ETFs) – 5.8%** | **EXCHANGE TRADED FUNDS (ETFs) – 5.8%** | **EXCHANGE TRADED FUNDS (ETFs) – 5.8%** |
| 1039527 | State Street SPDR Portfolio S&P 500 | 83952201  |
| 309439 | Vanguard Mega Capital Growth | 119737421  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL EXCHANGE TRADED FUNDS (ETFs)**<br>**(Cost - $191,571,447)** | **203689622**  |

---

See Notes to Financial Statements.

10<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Large Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **PREFERRED STOCKS – 0.0%**  | **PREFERRED STOCKS – 0.0%**  | **PREFERRED STOCKS – 0.0%**  |
| **INDUSTRIAL – 0.0%**  | **INDUSTRIAL – 0.0%**  | **INDUSTRIAL – 0.0%**  |
| **Machinery – 0.0%**  | **Machinery – 0.0%**  | **Machinery – 0.0%**  |
| 108389 | Nuro Inc., Series C, Private Placement<sup>\*@(a)(b)</sup> | $590720  |
| 26242 | Nuro Inc., Series D<sup>\*@(a)(b)</sup> | 176609  |
|  | Total Machinery | 767329  |
|  | **TOTAL INDUSTRIAL** | **767329**  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL PREFERRED STOCKS**<br>**(Cost – $1,962,009)** | **767329**  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS**<br>**(Cost – $2,701,402,577)** | **3444362879** |

---

---

| | | |
|:---|:---|:---|
| **Face Amount†** |  |  |
| **SHORT-TERM INVESTMENTS – 1.1%**  | **SHORT-TERM INVESTMENTS – 1.1%**  | **SHORT-TERM INVESTMENTS – 1.1%**  |
| **TIME DEPOSITS – 1.1%**  | **TIME DEPOSITS – 1.1%**  | **TIME DEPOSITS – 1.1%**  |
|  | Citibank - London:<br>|  |
| 95430<sup>EUR</sup> | &nbsp;&nbsp;&nbsp; 0.880% due 3/2/26 | 112760  |
| 4<sup>GBP</sup> | &nbsp;&nbsp;&nbsp; 2.680% due 3/2/26 | 6  |
| 22459629 | Citibank - New York, 2.980% due 3/2/26 | 22459629  |
| 61722 | JPMorgan Chase & Co. - New York, 2.980% due 3/2/26 | 61722  |
|  | Skandinaviska Enskilda Banken AB - Stockholm:<br>|  |
| 2421<sup>CHF</sup> | &nbsp;&nbsp;&nbsp; (0.430)% due 3/2/26 | 3149  |
| 9589278 | &nbsp;&nbsp;&nbsp; 2.980% due 3/2/26 | 9589278  |
| 5068937 | Sumitomo Mitsui Banking Corp. - Tokyo, 2.980% due 3/2/26 | 5068937  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL TIME DEPOSITS**<br>**(Cost – $37,295,481)** | **37295481**  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS – 99.7%**<br>**(Cost – $2,738,698,058)** | **3481658360**  |
|  | Other Assets in Excess of Liabilities – 0.3% | 11898587  |
|  | **TOTAL NET ASSETS – 100.0%** | **$3493556947** |

---

&nbsp;&nbsp;&nbsp;&nbsp;† Face amount denominated in U.S. dollars, unless
 otherwise noted.

\* Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(a) Illiquid security. The aggregate value of illiquid
 holdings at February 28, 2026, amounts to $64,336,905 and represents 1.84% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Security is valued in good faith at fair value
 by or under the direction of the Board of Trustees using significant unobservable inputs.

@ Restricted security – Investment in security not registered under the Securities Act of 1933. The investment is deemed to not be liquid and may be sold only to qualified buyers.

See Notes to Financial Statements.

11<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Large Cap Equity Fund(concluded)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Security** | **First** <br>**Acquisition** <br>**Date** | **First** <br>**Acquisition** <br>**Cost** | **Market**<br>**Value** | **Percent of**<br>**Net Assets**  |
| Magic Leap Inc., Series D, Private Placement | 10/12/2017 | $406053 | $2772 | &nbsp;&nbsp;&nbsp; 0.00%<sup>\*</sup>  |
| Nuro Inc., Series C, Private Placement | 10/30/2020 | 940662 | 590720 | &nbsp;&nbsp;&nbsp; 0.02%  |
| Nuro Inc., Series D | 10/29/2021 | 547033 | 176609 | &nbsp;&nbsp;&nbsp;&nbsp;0.00%<sup>\*</sup>  |
|  |  |  | **$770101** | &nbsp;&nbsp;&nbsp;&nbsp;0.02% |

---

\* Position represents less than 0.005%. 

<u>Abbreviations used in this schedule:</u>

ADR — American Depositary Receipts

PLC — Public Limited Company

SPDR — Standard & Poor's Depository Receipts

**<u>Summary of Investments by Security Sector^</u>** 

---

| | |
|:---|:---|
| Technology | 25.3%  |
| Financial | 16.8  |
| Communications | 13.6  |
| Consumer Non-cyclical | 12.5  |
| Industrial | 9.4  |
| Consumer Cyclical | 9.2  |
| Energy | 3.6  |
| Basic Materials | 1.5  |
| Utilities | 1.1  |
| Exchange Traded Funds (ETFs) | 5.9  |
| Short-Term Investments | 1.1  |
|  | 100.0% |

---

---

| | |
|:---|:---|
| ^<br>| As a percentage of total investments. <br>|

---

At February 28, 2026, Destinations Large Cap Equity Fund had open exchange traded futures contracts as described below.

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Open Futures Contracts** | **Number of**<br>**Contracts** | **Expiration**<br>**Date (Month/Year)** | **Notional**<br>**Amounts** | **Market Value** | **Unrealized** <br>(Depreciation)  |
| **Contracts to Buy:**<br>|  |  |  |  |  |
| S&P 500 E-mini Index March Futures | &nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26 | $4169104 | $4133400 | &nbsp;&nbsp; $(35704) |

---

At February 28, 2026, Destinations Large Cap Equity Fund had deposited cash of $336,458 with a broker or brokers as margin collateral on open exchange traded futures contracts.

<u>Currency Abbreviations used in this schedule:</u>

CHF

— Swiss Franc

EUR

— Euro

GBP

— British Pound

See Notes to Financial Statements.

12<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – 93.8%**  | **COMMON STOCKS – 93.8%**  | **COMMON STOCKS – 93.8%**  |
| **BASIC MATERIALS – 5.7%**  | **BASIC MATERIALS – 5.7%**  | **BASIC MATERIALS – 5.7%**  |
| **Chemicals – 1.9%**  | **Chemicals – 1.9%**  | **Chemicals – 1.9%**  |
| 641 | AdvanSix Inc.  | $11429  |
| 4277 | Albemarle Corp.  | 764172  |
| 1025 | American Vanguard Corp.<sup>\*</sup>  | 4725  |
| 292 | Ashland Inc.  | 18209  |
| 53300 | Axalta Coating Systems Ltd.<sup>\*</sup>  | 1780753  |
| 774 | Balchem Corp.  | 140427  |
| 26528 | Cabot Corp.  | 2019842  |
| 1677 | Calumet Inc.<sup>\*</sup>  | 45212  |
| 561 | Celanese Corp., Class A Shares | 28016  |
| 851 | CF Industries Holdings Inc.  | 84708  |
| 3583 | Chemours Co.  | 65354  |
| 1788 | Codexis Inc.<sup>\*</sup>  | 1806  |
| 3838 | Dow Inc.  | 117942  |
| 2220 | DuPont de Nemours Inc.  | 111089  |
| 643 | Eastman Chemical Co.  | 48553  |
| 2936 | Ecovyst Inc.<sup>\*</sup>  | 33089  |
| 1332 | Element Solutions Inc.  | 46740  |
| 619 | FMC Corp.  | 9124  |
| 469 | Hawkins Inc.  | 69928  |
| 1318 | HB Fuller Co.  | 86619  |
| 946 | Huntsman Corp.  | 11967  |
| 19974 | Ingevity Corp.<sup>\*</sup>  | 1438727  |
| 8624 | Innospec Inc.  | 660426  |
| 1390 | International Flavors & Fragrances Inc.  | 114300  |
| 325 | Intrepid Potash Inc.<sup>\*</sup>  | 12015  |
| 477 | Koppers Holdings Inc.  | 18031  |
| 907 | Kronos Worldwide Inc.  | 5270  |
| 1317 | LyondellBasell Industries NV, Class A Shares | 75754  |
| 1369 | Mativ Holdings Inc.  | 14840  |
| 768 | Minerals Technologies Inc.  | 54236  |
| 1614 | Mosaic Co.  | 44934  |
| 29 | NewMarket Corp.  | 18154  |
| 225 | Oil-Dri Corp. of America | 15264  |
| 691 | Olin Corp.  | 17531  |
| 1426 | Orion SA | 8114  |
| 19697 | Perimeter Solutions Inc.<sup>\*</sup>  | 462485  |
| 1215 | PPG Industries Inc.  | 149773  |
| 10406 | Qnity Electronics Inc.  | 1319065  |
| 324 | Quaker Chemical Corp.  | 47638  |
| 1554 | Rayonier Advanced Materials Inc.<sup>\*</sup>  | 14716  |
| 16210 | Rogers Corp.<sup>\*</sup>  | 1747924  |
| 653 | RPM International Inc.  | 74520  |

---

See Notes to Financial Statements.

13<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **BASIC MATERIALS – (continued)**  | **BASIC MATERIALS – (continued)**  | **BASIC MATERIALS – (continued)**  |
| **Chemicals – (continued)**  | **Chemicals – (continued)**  | **Chemicals – (continued)**  |
| 1051 | Sensient Technologies Corp.  | $106708  |
| 559 | Stepan Co.  | 28447  |
| 1243 | Trinseo PLC | 286  |
| 3099 | Tronox Holdings PLC | 23180  |
| 103 | Valhi Inc.  | 1439  |
| 23297 | Westlake Corp.  | 2455038  |
|  | Total Chemicals | 14428519  |
| **Forest Products & Paper – 0.0%**  | **Forest Products & Paper – 0.0%**  | **Forest Products & Paper – 0.0%**  |
| 2794 | International Paper Co.  | 121679  |
| 1008 | Magnera Corp.<sup>\*</sup>  | 13053  |
| 817 | Sylvamo Corp.  | 37827  |
|  | Total Forest Products & Paper | 172559  |
| **Iron/Steel – 1.0%**  | **Iron/Steel – 1.0%**  | **Iron/Steel – 1.0%**  |
| 15834 | Carpenter Technology Corp.  | 6303040  |
| 3024 | Cleveland-Cliffs Inc.<sup>\*</sup>  | 32236  |
| 2626 | Commercial Metals Co.  | 192486  |
| 240 | Friedman Industries Inc.  | 4466  |
| 1283 | Nucor Corp.  | 226937  |
| 292 | Reliance Inc.  | 92167  |
| 757 | Steel Dynamics Inc.  | 146200  |
|  | Total Iron/Steel | 6997532  |
| **Mining – 2.8%**  | **Mining – 2.8%**  | **Mining – 2.8%**  |
| 1441 | Alcoa Corp. | 89457  |
| 48952 | Almonty Industries Inc.<sup>\*</sup> | 900227  |
| 2694 | American Battery Technology Co.<sup>\*</sup> | 9941  |
| 2800 | Anglogold Ashanti PLC | 357756  |
| 361 | Caledonia Mining Corp. PLC | 11458  |
| 24068 | Cameco Corp.  | 2849651  |
| 2944 | Centrus Energy Corp., Class A Shares<sup>\*(a)</sup> | 596425  |
| 1348 | Century Aluminum Co.<sup>\*</sup> | 69503  |
| 95728 | Coeur Mining Inc.<sup>\*</sup> | 2599015  |
| 1024 | Compass Minerals International Inc.<sup>\*</sup>  | 25805  |
| 3390 | Constellium SE, Class A Shares<sup>\*</sup> | 84377  |
| 353 | Contango ORE Inc.<sup>\*</sup> | 10615  |
| 784 | Critical Metals Corp.<sup>\*(a)</sup> | 7958  |
| 2447 | Dakota Gold Corp.<sup>\*</sup>  | 17031  |
| 4551 | Encore Energy Corp.<sup>\*(b)</sup> | 12288  |
| 46408 | Energy Fuels Inc.<sup>\*</sup> | 989419  |
| 3607 | Ferroglobe PLC | 18432  |
| 14989 | Hecla Mining Co.  | 373376  |
| 105641 | IAMGOLD Corp.<sup>\*</sup>  | 2595599  |
| 442 | Idaho Strategic Resources Inc.<sup>\*</sup>  | 19037  |

---

See Notes to Financial Statements.

14<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **BASIC MATERIALS – (continued)**  | **BASIC MATERIALS – (continued)**  | **BASIC MATERIALS – (continued)**  |
| **Mining – (continued)**  | **Mining – (continued)**  | **Mining – (continued)**  |
| 60090 | Ivanhoe Electric Inc.<sup>\*(b)</sup> | $1032947  |
| 413 | Kaiser Aluminum Corp.  | 53748  |
| 1514 | Lifezone Metals Ltd.<sup>\*</sup> | 7040  |
| 23391 | MP Materials Corp.<sup>\*</sup> | 1377028  |
| 237282 | NexGen Energy Ltd.<sup>\*</sup> | 3032464  |
| 1805 | NioCorp Developments Ltd.<sup>\*</sup> | 9566  |
| 7369 | Novagold Resources Inc.<sup>\*</sup> | 98155  |
| 28009 | Perpetua Resources Corp.<sup>\*</sup> | 1032412  |
| 442 | Royal Gold Inc.  | 132507  |
| 4801 | SSR Mining Inc.<sup>\*</sup> | 154544  |
| 65200 | United States Antimony Corp.<sup>\*</sup> | 582888  |
| 272 | United States Lime & Minerals Inc.  | 31052  |
| 75161 | Uranium Energy Corp.<sup>\*</sup> | 1152218  |
| 372 | US Gold Corp.<sup>\*</sup> | 8072  |
| 21680 | USA Rare Earth Inc.<sup>\*(a)</sup> | 409752  |
| 1378 | Vox Royalty Corp.<sup>(b)</sup> | 8861  |
|  | Total Mining | 20760624  |
|  | **TOTAL BASIC MATERIALS** | **42359234**  |
| **COMMUNICATIONS – 3.6%**  | **COMMUNICATIONS – 3.6%**  | **COMMUNICATIONS – 3.6%**  |
| **Advertising – 0.0%**  | **Advertising – 0.0%**  | **Advertising – 0.0%**  |
| 3342 | Advantage Solutions Inc.<sup>\*</sup> | 1746  |
| 554 | Boston Omaha Corp., Class A Shares<sup>\*</sup> | 6842  |
| 1720 | National CineMedia Inc.  | 6123  |
| 1156 | Nexxen International Ltd., ADR<sup>\*</sup> | 7445  |
| 1789 | Omnicom Group Inc.  | 152584  |
| 2762 | Stagwell Inc., Class A Shares<sup>\*</sup> | 13313  |
| 650 | TechTarget Inc.<sup>\*</sup> | 2281  |
| 2364 | Trade Desk Inc., Class A Shares<sup>\*</sup> | 56310  |
|  | Total Advertising | 246644  |
| **Internet – 0.6%**  | **Internet – 0.6%**  | **Internet – 0.6%**  |
| 1097 | 1-800-Flowers.com Inc., Class A Shares<sup>\*</sup> | 3818  |
| 989 | Angi Inc., Class A Shares<sup>\*</sup> | 7694  |
| 346 | AudioEye Inc.<sup>\*</sup> | 2360  |
| 1452 | Backblaze Inc., Class A Shares<sup>\*</sup> | 5460  |
| 2614 | BARK Inc.<sup>\*</sup> | 2042  |
| 1568 | Bed Bath & Beyond Inc.<sup>\*</sup> | 8357  |
| 1595 | Bumble Inc., Class A Shares<sup>\*</sup> | 4849  |
| 1976 | Cargurus Inc., Class A Shares<sup>\*</sup> | 60663  |
| 1694 | Cars.com Inc.<sup>\*</sup> | 14467  |
| 706 | CDW Corp.  | 86584  |
| 1062 | Chewy Inc., Class A Shares<sup>\*</sup> | 29120  |
| 1175 | Cogent Communications Holdings Inc.  | 22043  |

---

See Notes to Financial Statements.

15<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **COMMUNICATIONS – (continued)**  | **COMMUNICATIONS – (continued)**  | **COMMUNICATIONS – (continued)**  |
| **Internet – (continued)**  | **Internet – (continued)**  | **Internet – (continued)**  |
| 7272 | Coupang Inc., Class A Shares<sup>\*</sup> | $138750  |
| 355 | Crexendo Inc.<sup>\*</sup> | 2073  |
| 2499 | eBay Inc.  | 227059  |
| 1100 | Entravision Communications Corp., Class A Shares | 3410  |
| 622 | ePlus Inc.  | 50171  |
| 515 | Etsy Inc.<sup>\*</sup> | 28263  |
| 2928 | Eventbrite Inc., Class A Shares<sup>\*</sup> | 12942  |
| 609 | EverQuote Inc., Class A Shares<sup>\*</sup> | 9622  |
| 647 | Expedia Group Inc.  | 139551  |
| 322 | F5 Inc.<sup>\*</sup> | 87378  |
| 57874 | Figs Inc., Class A Shares<sup>\*</sup> | 894153  |
| 7826 | fuboTV Inc., Class A Shares<sup>\*</sup> | 9156  |
| 625 | Gambling.com Group Ltd.<sup>\*</sup> | 2725  |
| 2827 | Gen Digital Inc.  | 63805  |
| 2372 | Getty Images Holdings Inc.<sup>\*(a)</sup> | 1845  |
| 746 | GoDaddy Inc., Class A Shares<sup>\*</sup> | 65021  |
| 961 | Grindr Inc.<sup>\*</sup> | 10936  |
| 696 | Groupon Inc., Class A Shares<sup>\*</sup> | 8784  |
| 611 | HealthStream Inc.  | 12972  |
| 4712 | Hims & Hers Health Inc.<sup>\*</sup> | 68418  |
| 430 | IAC Inc.<sup>\*</sup> | 16478  |
| 362 | Lands' End Inc.<sup>\*</sup> | 5817  |
| 841 | LifeMD Inc.<sup>\*</sup> | 2245  |
| 515 | Liquidity Services Inc.<sup>\*</sup> | 16279  |
| 2123 | Lyft Inc., Class A Shares<sup>\*</sup> | 29382  |
| 3372 | Magnite Inc.<sup>\*</sup> | 45927  |
| 922 | Maplebear Inc.<sup>\*</sup> | 34584  |
| 1238 | Match Group Inc.  | 39121  |
| 725 | MediaAlpha Inc., Class A Shares<sup>\*</sup> | 7206  |
| 1111 | Nerdy Inc.<sup>\*</sup> | 1072  |
| 1120 | Newsmax Inc., Class B Shares<sup>\*</sup> | 6664  |
| 5858 | Nextdoor Holdings Inc.<sup>\*</sup> | 10252  |
| 2424 | Open Lending Corp.<sup>\*</sup> | 3224  |
| 581 | OptimizeRx Corp.<sup>\*</sup>  | 4404  |
| 3050 | Pinterest Inc., Class A Shares<sup>\*</sup> | 52247  |
| 1467 | Q2 Holdings Inc.<sup>\*</sup> | 70592  |
| 1358 | QuinStreet Inc.<sup>\*</sup> | 15916  |
| 84513 | RealReal Inc.<sup>\*</sup> | 1036129  |
| 690 | Reddit Inc., Class A Shares<sup>\*</sup> | 100609  |
| 1036 | Revolve Group Inc., Class A Shares<sup>\*</sup> | 26066  |
| 4113 | Robinhood Markets Inc., Class A Shares<sup>\*</sup> | 311971  |
| 699 | Roku Inc., Class A Shares<sup>\*</sup> | 68789  |

---

See Notes to Financial Statements.

16<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **COMMUNICATIONS – (continued)**  | **COMMUNICATIONS – (continued)**  | **COMMUNICATIONS – (continued)**  |
| **Internet – (continued)**  | **Internet – (continued)**  | **Internet – (continued)**  |
| 2282 | Rumble Inc.<sup>\*(a)</sup> | $12346  |
| 1396 | Serve Robotics Inc.<sup>\*(a)</sup> | 13946  |
| 632 | Shutterstock Inc.  | 10618  |
| 2548 | Sprinklr Inc., Class A Shares<sup>\*</sup> | 14829  |
| 2392 | Stitch Fix Inc., Class A Shares<sup>\*</sup> | 7965  |
| 2755 | TripAdvisor Inc.<sup>\*</sup> | 27853  |
| 864 | Trump Media & Technology Group Corp.<sup>\*</sup> | 9253  |
| 182 | Tucows Inc., Class A Shares<sup>\*(b)</sup> | 3305  |
| 2992 | Upwork Inc.<sup>\*</sup> | 40153  |
| 445 | VeriSign Inc.  | 101433  |
| 124 | Vivid Seats Inc., Class A Shares<sup>\*</sup> | 739  |
| 547 | Wayfair Inc., Class A Shares<sup>\*</sup> | 41753  |
| 1476 | Yelp Inc., Class A Shares<sup>\*</sup> | 32900  |
| 1001 | Ziff Davis Inc.<sup>\*</sup> | 27107  |
| 288 | Zillow Group Inc., Class A Shares<sup>\*</sup> | 12902  |
| 832 | Zillow Group Inc., Class C Shares<sup>\*</sup> | 37124  |
| 1692 | ZipRecruiter Inc., Class A Shares<sup>\*</sup> | 3063  |
|  | Total Internet | 4386754  |
| **Media – 0.2%**  | **Media – 0.2%**  | **Media – 0.2%**  |
| 1186 | AMC Networks Inc., Class A Shares<sup>\*</sup> | 9690  |
| 149 | Cable One Inc.<sup>\*</sup> | 14296  |
| 482 | Charter Communications Inc., Class A Shares<sup>\*</sup> | 113092  |
| 1107 | CuriosityStream Inc.  | 3742  |
| 1114 | EW Scripps Co., Class A Shares<sup>\*</sup> | 4623  |
| 196 | FactSet Research Systems Inc.  | 42495  |
| 1104 | Fox Corp., Class A Shares | 62199  |
| 790 | Fox Corp., Class B Shares | 40867  |
| 2846 | Gray Media Inc.  | 14771  |
| 1923 | iHeartMedia Inc., Class A Shares<sup>\*</sup> | 6288  |
| 83 | Liberty Broadband Corp., Class A Shares<sup>\*</sup> | 4530  |
| 572 | Liberty Broadband Corp., Class C Shares<sup>\*</sup> | 31237  |
| 954 | Liberty Global Ltd., Class A Shares<sup>\*</sup> | 12154  |
| 921 | Liberty Global Ltd., Class C Shares<sup>\*</sup> | 11328  |
| 626 | Liberty Latin America Ltd., Class A Shares<sup>\*</sup> | 4908  |
| 3363 | Liberty Latin America Ltd., Class C Shares<sup>\*</sup> | 26702  |
| 126 | Liberty Media Corp. Liberty Formula One, Class A Shares<sup>\*</sup> | 10631  |
| 1149 | Liberty Media Corp. Liberty Formula One, Class C Shares<sup>\*</sup> | 105237  |
| 816 | New York Times Co., Class A Shares | 65109  |
| 1935 | News Corp., Class A Shares | 47001  |
| 654 | News Corp., Class B Shares | 17514  |
| 140 | Nexstar Media Group Inc., Class A Shares | 35143  |
| 7696 | Optimum Communications Inc., Class A Shares<sup>\*</sup> | 11082  |

---

See Notes to Financial Statements.

17<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **COMMUNICATIONS – (continued)**  | **COMMUNICATIONS – (continued)**  | **COMMUNICATIONS – (continued)**  |
| **Media – (continued)**  | **Media – (continued)**  | **Media – (continued)**  |
| 544 | Scholastic Corp.  | $18915  |
| 1034 | Sinclair Inc.  | 16896  |
| 938 | Sirius XM Holdings Inc.  | 20598  |
| 685 | Sphere Entertainment Co.<sup>\*</sup> | 81522  |
| 3860 | TEGNA Inc.  | 80867  |
| 1126 | Thryv Holdings Inc.<sup>\*</sup> | 2612  |
| 3430 | USA TODAY Co., Inc.<sup>\*</sup> | 20408  |
| 12945 | Warner Bros Discovery Inc.<sup>\*</sup> | 364661  |
|  | Total Media | 1301118  |
| **Telecommunications – 2.8%**  | **Telecommunications – 2.8%**  | **Telecommunications – 2.8%**  |
| 1822 | A10 Networks Inc.  | 35092  |
| 2127 | ADTRAN Holdings Inc.<sup>\*</sup> | 21695  |
| 233 | Anterix Inc.<sup>\*</sup> | 8600  |
| 23889 | Applied Digital Corp.<sup>\*</sup> | 651453  |
| 15490 | AST SpaceMobile Inc., Class A Shares<sup>\*(a)</sup> | 1226653  |
| 418 | ATN International Inc.  | 12047  |
| 435 | Aviat Networks Inc.<sup>\*</sup> | 10892  |
| 92 | BK Technologies Corp.<sup>\*</sup> | 8012  |
| 805 | BlackSky Technology Inc., Class A Shares<sup>\*</sup> | 15174  |
| 1418 | Calix Inc.<sup>\*</sup> | 73410  |
| 786 | Ciena Corp.<sup>\*</sup> | 274078  |
| 287 | Clearfield Inc.<sup>\*</sup> | 9023  |
| 17839 | Corning Inc.  | 2682629  |
| 3635 | Credo Technology Group Holding Ltd.<sup>\*</sup> | 408101  |
| 3197 | EchoStar Corp., Class A Shares<sup>\*</sup> | 369349  |
| 3334 | Extreme Networks Inc.<sup>\*</sup> | 46609  |
| 12054 | Frequency Electronics Inc.<sup>\*</sup> | 605231  |
| 16 | GCI Liberty Inc., Class A Shares<sup>\*</sup> | 636  |
| 165 | GCI Liberty Inc., Class C Shares<sup>\*</sup> | 6493  |
| 1182 | Globalstar Inc.<sup>\*</sup> | 73603  |
| 1939 | Gogo Inc.<sup>\*</sup> | 8202  |
| 193565 | Harmonic Inc.<sup>\*</sup> | 2057596  |
| 387 | IDT Corp., Class B Shares | 19718  |
| 453 | Inseego Corp.<sup>\*</sup> | 5595  |
| 7901 | InterDigital Inc.  | 2895954  |
| 454 | Iridium Communications Inc.  | 10873  |
| 61336 | LightPath Technologies Inc., Class A Shares<sup>\*</sup> | 639734  |
| 22491 | Lumen Technologies Inc.<sup>\*</sup> | 159911  |
| 629 | Millicom International Cellular SA | 45848  |
| 700 | NETGEAR Inc.<sup>\*</sup> | 14434  |
| 352400 | Nokia OYJ, ADR | 2720528  |
| 563 | Ooma Inc.<sup>\*</sup> | 6959  |

---

See Notes to Financial Statements.

18<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **COMMUNICATIONS – (continued)**  | **COMMUNICATIONS – (continued)**  | **COMMUNICATIONS – (continued)**  |
| **Telecommunications – (continued)**  | **Telecommunications – (continued)**  | **Telecommunications – (continued)**  |
| 2552 | Powerfleet Inc. NJ<sup>\*</sup> | $9111  |
| 54 | Preformed Line Products Co.  | 13697  |
| 2118 | Ribbon Communications Inc.<sup>\*</sup> | 4723  |
| 2250 | Satellogic Inc., Class A Shares<sup>\*</sup> | 6750  |
| 1155 | Shenandoah Telecommunications Co.  | 15743  |
| 397 | Spok Holdings Inc.  | 4820  |
| 2366 | Telephone & Data Systems Inc. | 105878  |
| 24 | Ubiquiti Inc.  | 18408  |
| 3734 | Uniti Group Inc.<sup>\*</sup> | 27333  |
| 2853 | Viasat Inc.<sup>\*</sup>  | 130610  |
| 165881 | Viavi Solutions Inc.<sup>\*</sup> | 4928325  |
| 34952 | Vistance Networks Inc.<sup>\*</sup> | 614107  |
|  | Total Telecommunications | 21003637  |
|  | **TOTAL COMMUNICATIONS** | **26938153**  |
| **CONSUMER CYCLICAL – 11.3%**  | **CONSUMER CYCLICAL – 11.3%**  | **CONSUMER CYCLICAL – 11.3%**  |
| **Airlines – 0.6%**  | **Airlines – 0.6%**  | **Airlines – 0.6%**  |
| 614 | Alaska Air Group Inc.<sup>\*</sup> | 31682  |
| 4298 | Allegiant Travel Co.<sup>\*</sup> | 439041  |
| 3296 | American Airlines Group Inc.<sup>\*</sup> | 43079  |
| 16260 | Controladora Vuela Compania de Aviacion SAB de CV, ADR<sup>\*</sup> | 140161  |
| 40753 | Delta Air Lines Inc.  | 2677472  |
| 2391 | Frontier Group Holdings Inc.<sup>\*</sup> | 10616  |
| 8209 | JetBlue Airways Corp.<sup>\*</sup> | 45478  |
| 1014 | SkyWest Inc.<sup>\*</sup> | 105537  |
| 20917 | Southwest Airlines Co.  | 1030371  |
| 1498 | Sun Country Airlines Holdings Inc.<sup>\*</sup> | 29481  |
| 1809 | United Airlines Holdings Inc.<sup>\*</sup> | 192297  |
|  | Total Airlines | 4745215  |
| **Apparel – 0.8%**  | **Apparel – 0.8%**  | **Apparel – 0.8%**  |
| 298 | Birkenstock Holding PLC<sup>\*</sup> | 12412  |
| 2777 | Capri Holdings Ltd.<sup>\*</sup> | 56956  |
| 831 | Carter's Inc.  | 27880  |
| 188 | Columbia Sportswear Co. | 11645  |
| 272 | Crocs Inc.<sup>\*</sup> | 24673  |
| 777 | Deckers Outdoor Corp.<sup>\*</sup> | 91119  |
| 1820 | Ermenegildo Zegna NV | 20511  |
| 31300 | Gildan Activewear Inc., Class A Shares | 2131217  |
| 1369 | Kontoor Brands Inc.  | 89272  |
| 317 | Lakeland Industries Inc. | 2907  |
| 1126 | On Holding AG, Class A Shares<sup>\*</sup> | 52336  |
| 382 | Oxford Industries Inc.  | 15123  |
| 256 | PVH Corp.  | 17562  |

---

See Notes to Financial Statements.

19<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER CYCLICAL – (continued)**  | **CONSUMER CYCLICAL – (continued)**  | **CONSUMER CYCLICAL – (continued)**  |
| **Apparel – (continued)**  | **Apparel – (continued)**  | **Apparel – (continued)**  |
| 200 | Ralph Lauren Corp., Class A Shares | $72520  |
| 153 | Rocky Brands Inc.  | 6916  |
| 29725 | Steven Madden Ltd.  | 1073072  |
| 552 | Superior Group of Cos., Inc.  | 5481  |
| 14770 | Tapestry Inc.  | 2296292  |
| 683 | Torrid Holdings Inc.<sup>\*</sup> | 697  |
| 950 | Under Armour Inc., Class A Shares<sup>\*</sup> | 7049  |
| 948 | Under Armour Inc., Class C Shares<sup>\*</sup> | 6854  |
| 2095 | VF Corp.  | 40685  |
| 202 | Weyco Group Inc.  | 6317  |
| 1960 | Wolverine World Wide Inc.  | 34633  |
|  | Total Apparel | 6104129  |
| **Auto Manufacturers – 0.5%**  | **Auto Manufacturers – 0.5%**  | **Auto Manufacturers – 0.5%**  |
| 837 | Blue Bird Corp.<sup>\*</sup> | 48772  |
| 5465 | Cummins Inc.  | 3190850  |
| 2865 | Faraday Future Intelligent Electric Inc.<sup>\*</sup> | 1402  |
| 21698 | Ford Motor Co.  | 305725  |
| 5001 | Hyliion Holdings Corp.<sup>\*</sup> | 10252  |
| 654 | Lucid Group Inc., Class A Shares<sup>\*(a)</sup> | 6540  |
| 4204 | Rivian Automotive Inc., Class A Shares<sup>\*</sup> | 64447  |
| 1100 | Wabash National Corp.  | 11165  |
|  | Total Auto Manufacturers | 3639153  |
| **Auto Parts & Equipment – 0.8%**  | **Auto Parts & Equipment – 0.8%**  | **Auto Parts & Equipment – 0.8%**  |
| 1999 | Adient PLC<sup>\*</sup> | 48616  |
| 873 | Aeva Technologies Inc.<sup>\*</sup> | 11576  |
| 12985 | Allison Transmission Holdings Inc.  | 1627021  |
| 1178 | Aptiv PLC<sup>\*</sup> | 86630  |
| 5928 | Aurora Innovation Inc., Class A Shares<sup>\*</sup> | 27743  |
| 1205 | BorgWarner Inc.  | 69372  |
| 14741 | Cooper-Standard Holdings Inc.<sup>\*</sup> | 566644  |
| 2776 | Dana Inc.  | 95050  |
| 5424 | Dauch Corp.<sup>\*</sup> | 35798  |
| 13731 | Dorman Products Inc.<sup>\*</sup> | 1618336  |
| 544 | Douglas Dynamics Inc.  | 24980  |
| 1105 | Fox Factory Holding Corp.<sup>\*</sup> | 18608  |
| 3746 | Garrett Motion Inc.  | 76269  |
| 50045 | Gentex Corp.  | 1171053  |
| 817 | Gentherm Inc.<sup>\*</sup> | 26773  |
| 6271 | Goodyear Tire & Rubber Co.<sup>\*</sup> | 51736  |
| 958 | Holley Inc.<sup>\*</sup> | 3909  |
| 5337 | indie Semiconductor Inc., Class A Shares<sup>\*</sup> | 19533  |
| 266 | Lear Corp.  | 34913  |

---

See Notes to Financial Statements.

20<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER CYCLICAL – (continued)**  | **CONSUMER CYCLICAL – (continued)**  | **CONSUMER CYCLICAL – (continued)**  |
| **Auto Parts & Equipment – (continued)**  | **Auto Parts & Equipment – (continued)**  | **Auto Parts & Equipment – (continued)**  |
| 1230 | Methode Electronics Inc.  | $10406  |
| 5712 | Microvast Holdings Inc.<sup>\*</sup> | 12795  |
| 270 | Miller Industries Inc.  | 11348  |
| 323 | Motorcar Parts of America Inc.<sup>\*</sup> | 3340  |
| 937 | Phinia Inc.  | 68054  |
| 2174 | QuantumScape Corp., Class A Shares<sup>\*</sup> | 15044  |
| 2971 | Solid Power Inc.<sup>\*</sup> | 10517  |
| 522 | Standard Motor Products Inc.  | 20713  |
| 128 | Strattec Security Corp.<sup>\*</sup> | 11264  |
| 1165 | Titan International Inc.<sup>\*</sup> | 11335  |
| 659 | Visteon Corp.  | 63047  |
| 633 | XPEL Inc.<sup>\*</sup> | 26978  |
|  | Total Auto Parts & Equipment | 5879401  |
| **Distribution/Wholesale – 0.4%**  | **Distribution/Wholesale – 0.4%**  | **Distribution/Wholesale – 0.4%**  |
| 971 | Core & Main Inc., Class A Shares<sup>\*</sup> | 52589  |
| 117 | EVI Industries Inc.  | 2273  |
| 6380 | Fastenal Co.  | 293735  |
| 1048 | G-III Apparel Group Ltd.  | 32058  |
| 349 | Global Industrial Co.  | 11510  |
| 555 | Gold.com Inc.  | 31896  |
| 799 | Hudson Technologies Inc.<sup>\*</sup> | 5681  |
| 1451 | LKQ Corp.  | 48043  |
| 18648 | OPENLANE Inc.<sup>\*</sup> | 531654  |
| 183 | Pool Corp.  | 41574  |
| 995 | RB Global Inc.<sup>(b)</sup> | 100455  |
| 3045 | Resideo Technologies Inc.<sup>\*</sup> | 117841  |
| 1508 | Rush Enterprises Inc., Class A Shares | 107023  |
| 207 | Rush Enterprises Inc., Class B Shares | 13383  |
| 503 | ScanSource Inc.<sup>\*</sup> | 18500  |
| 221 | SiteOne Landscape Supply Inc.<sup>\*</sup> | 31579  |
| 2162 | ThredUp Inc., Class A Shares<sup>\*</sup> | 10551  |
| 475 | Titan Machinery Inc.<sup>\*</sup> | 9258  |
| 5766 | VSE Corp.  | 1309286  |
| 179 | Watsco Inc.  | 74702  |
| 267 | WESCO International Inc.  | 77296  |
| 241 | WW Grainger Inc.  | 275880  |
|  | Total Distribution/Wholesale | 3196767  |
| **Entertainment – 0.9%**  | **Entertainment – 0.9%**  | **Entertainment – 0.9%**  |
| 1269 | Accel Entertainment Inc., Class A Shares<sup>\*</sup> | 14416  |
| 11090 | AMC Entertainment Holdings Inc., Class A Shares<sup>\*</sup> | 12864  |
| 238 | Atlanta Braves Holdings Inc., Class A Shares<sup>\*</sup> | 11522  |
| 1102 | Atlanta Braves Holdings Inc., Class C Shares<sup>\*</sup> | 48168  |

---

See Notes to Financial Statements.

21<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER CYCLICAL – (continued)**  | **CONSUMER CYCLICAL – (continued)**  | **CONSUMER CYCLICAL – (continued)**  |
| **Entertainment – (continued)**  | **Entertainment – (continued)**  | **Entertainment – (continued)**  |
| 2659 | Brightstar Lottery PLC | $36056  |
| 1035 | Caesars Entertainment Inc.<sup>\*</sup> | 25927  |
| 327 | Churchill Downs Inc.  | 30061  |
| 2565 | Cinemark Holdings Inc.  | 72436  |
| 2571 | DraftKings Inc., Class A Shares<sup>\*</sup> | 61293  |
| 878 | Flutter Entertainment PLC<sup>\*</sup> | 93191  |
| 533 | Golden Entertainment Inc.  | 15404  |
| 24943 | IMAX Corp.<sup>\*</sup> | 1068309  |
| 394 | Inspired Entertainment Inc.<sup>\*</sup> | 3215  |
| 107 | Liberty Live Holdings Inc., Class A Shares<sup>\*</sup> | 10383  |
| 263 | Liberty Live Holdings Inc., Class C Shares<sup>\*</sup> | 26208  |
| 4471 | Lionsgate Studios Corp.<sup>\*</sup> | 40239  |
| 845 | Live Nation Entertainment Inc.<sup>\*</sup> | 137008  |
| 1025 | Madison Square Garden Entertainment Corp., Class A Shares<sup>\*</sup> | 64719  |
| 78 | Madison Square Garden Sports Corp.<sup>\*</sup> | 25869  |
| 678 | Marriott Vacations Worldwide Corp.  | 44077  |
| 329 | Monarch Casino & Resort Inc.  | 31617  |
| 859 | Penn Entertainment Inc.<sup>\*</sup> | 13435  |
| 515 | Pursuit Attractions & Hospitality Inc.<sup>\*</sup> | 17901  |
| 291 | RCI Hospitality Holdings Inc.  | 6440  |
| 1171 | Red Rock Resorts Inc., Class A Shares | 70904  |
| 492 | Reservoir Media Inc.<sup>\*</sup> | 4413  |
| 20703 | Rush Street Interactive Inc.<sup>\*</sup> | 408884  |
| 2308 | Six Flags Entertainment Corp.<sup>\*</sup> | 39305  |
| 317 | Starz Entertainment Corp.<sup>\*</sup> | 3487  |
| 4047 | Super Group SGHC Ltd.  | 43303  |
| 19084 | TKO Group Holdings Inc., Class A Shares | 4272335  |
| 638 | United Parks & Resorts Inc.<sup>\*</sup> | 22196  |
| 179 | Vail Resorts Inc.  | 24310  |
| 436 | Webtoon Entertainment Inc.<sup>\*</sup> | 4905  |
|  | Total Entertainment | 6804800  |
| **Food Service – 0.0%**  | **Food Service – 0.0%**  | **Food Service – 0.0%**  |
| 1349 | Aramark | 56456  |
| **Home Builders – 0.8%**  | **Home Builders – 0.8%**  | **Home Builders – 0.8%**  |
| 756 | Beazer Homes USA Inc.<sup>\*</sup> | 19338  |
| 190 | Cavco Industries Inc.<sup>\*</sup> | 109679  |
| 635 | Century Communities Inc.  | 42691  |
| 1394 | Champion Homes Inc.<sup>\*</sup> | 130311  |
| 1454 | DR Horton Inc.  | 233207  |
| 683 | Dream Finders Homes Inc., Class A Shares<sup>\*</sup> | 12342  |
| 440 | Forestar Group Inc.<sup>\*</sup> | 12637  |
| 822 | Green Brick Partners Inc.<sup>\*</sup> | 60549  |

---

See Notes to Financial Statements.

22<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER CYCLICAL – (continued)**  | **CONSUMER CYCLICAL – (continued)**  | **CONSUMER CYCLICAL – (continued)**  |
| **Home Builders – (continued)**  | **Home Builders – (continued)**  | **Home Builders – (continued)**  |
| 127 | Hovnanian Enterprises Inc., Class A Shares<sup>\*</sup> | $15954  |
| 10125 | Installed Building Products Inc.  | 3318570  |
| 1489 | KB Home | 94671  |
| 4030 | LCI Industries | 536796  |
| 1192 | Lennar Corp., Class A Shares | 136317  |
| 38 | Lennar Corp., Class B Shares | 4056  |
| 551 | LGI Homes Inc.<sup>\*</sup> | 28597  |
| 635 | M/I Homes Inc.<sup>\*</sup> | 90272  |
| 1642 | Meritage Homes Corp.  | 123840  |
| 15 | NVR Inc.<sup>\*</sup> | 112767  |
| 1067 | PulteGroup Inc.  | 146392  |
| 2362 | Taylor Morrison Home Corp., Class A Shares<sup>\*</sup> | 155632  |
| 301 | Thor Industries Inc.  | 28935  |
| 506 | Toll Brothers Inc.  | 79563  |
| 2150 | Tri Pointe Homes Inc.<sup>\*</sup> | 99545  |
| 741 | Winnebago Industries Inc.  | 29558  |
|  | Total Home Builders | 5622219  |
| **Home Furnishings – 1.0%**  | **Home Furnishings – 1.0%**  | **Home Furnishings – 1.0%**  |
| 48605 | Alliance Laundry Holdings Inc.<sup>\*</sup> | 1090210  |
| 1228 | Arhaus Inc., Class A Shares<sup>\*</sup> | 10131  |
| 939 | Daktronics Inc.<sup>\*</sup> | 24207  |
| 342 | Dolby Laboratories Inc., Class A Shares | 22767  |
| 554 | Ethan Allen Interiors Inc.  | 12620  |
| 93 | Flexsteel Industries Inc.  | 4787  |
| 224 | Hamilton Beach Brands Holding Co., Class A Shares | 4265  |
| 3131 | Leggett & Platt Inc.  | 36570  |
| 309 | Lovesac Co.<sup>\*</sup> | 3949  |
| 1825 | MillerKnoll Inc.  | 36756  |
| 12882 | SharkNinja Inc.<sup>\*</sup> | 1582811  |
| 471 | Sleep Number Corp.<sup>\*</sup> | 2906  |
| 50047 | Somnigroup International Inc.  | 4479707  |
| 2861 | Sonos Inc.<sup>\*</sup> | 44059  |
| 2027 | Traeger Inc.<sup>\*</sup> | 1743  |
| 313 | Whirlpool Corp.<sup>(a)</sup> | 21419  |
| 1443 | Xperi Inc.<sup>\*</sup> | 8846  |
|  | Total Home Furnishings | 7387753  |
| **Housewares – 0.0%**  | **Housewares – 0.0%**  | **Housewares – 0.0%**  |
| 216 | Central Garden & Pet Co.<sup>\*</sup> | 8465  |
| 1364 | Central Garden & Pet Co., Class A Shares<sup>\*</sup> | 47113  |
| 2321 | Newell Brands Inc.  | 10561  |
| 246 | Scotts Miracle-Gro Co.  | 17249  |
|  | Total Housewares | 83388  |

---

See Notes to Financial Statements.

23<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER CYCLICAL – (continued)**  | **CONSUMER CYCLICAL – (continued)**  | **CONSUMER CYCLICAL – (continued)**  |
| **Leisure Time – 0.7%**  | **Leisure Time – 0.7%**  | **Leisure Time – 0.7%**  |
| 672 | Acushnet Holdings Corp.  | $68766  |
| 746 | Amer Sports Inc.<sup>\*</sup> | 28333  |
| 423 | American Outdoor Brands Inc.<sup>\*</sup> | 3849  |
| 400 | Brunswick Corp.  | 31848  |
| 3112 | Callaway Golf Co.<sup>\*</sup> | 43755  |
| 6007 | Carnival Corp.  | 189521  |
| 535 | Clarus Corp.  | 1691  |
| 175 | Escalade Inc.  | 2520  |
| 3078 | Global Business Travel Group I<sup>\*</sup> | 16837  |
| 704 | Harley-Davidson Inc.  | 12672  |
| 98 | Johnson Outdoors Inc., Class A Shares | 4752  |
| 41168 | Life Time Group Holdings Inc.<sup>\*</sup> | 1111536  |
| 31511 | Lindblad Expeditions Holdings Inc.<sup>\*</sup> | 621082  |
| 1183 | Livewire Group Inc.<sup>\*</sup> | 1987  |
| 517 | Malibu Boats Inc., Class A Shares<sup>\*</sup> | 15024  |
| 442 | Marine Products Corp.  | 3355  |
| 354 | MasterCraft Boat Holdings Inc.<sup>\*</sup> | 7684  |
| 2437 | Norwegian Cruise Line Holdings Ltd.<sup>\*</sup> | 60413  |
| 2259 | OneSpaWorld Holdings Ltd.  | 48636  |
| 782 | Patrick Industries Inc.  | 96804  |
| 9545 | Peloton Interactive Inc., Class A Shares<sup>\*</sup> | 38371  |
| 470 | Planet Fitness Inc., Class A Shares<sup>\*</sup> | 38610  |
| 1276 | Polaris Inc.  | 77504  |
| 1408 | Royal Caribbean Cruises Ltd.  | 437832  |
| 9739 | Sabre Corp.<sup>\*</sup> | 11492  |
| 17928 | Viking Holdings Ltd.<sup>\*</sup> | 1398742  |
| 554 | Xponential Fitness Inc., Class A Shares<sup>\*</sup> | 2360  |
| 17840 | YETI Holdings Inc.<sup>\*</sup> | 779786  |
|  | Total Leisure Time | 5155762  |
| **Lodging – 0.5%**  | **Lodging – 0.5%**  | **Lodging – 0.5%**  |
| 288 | Boyd Gaming Corp.  | 23970  |
| 157 | Choice Hotels International Inc.  | 16540  |
| 1469 | Hilton Grand Vacations Inc.<sup>\*</sup> | 66046  |
| 1276 | Hilton Worldwide Holdings Inc.  | 397831  |
| 16001 | Hyatt Hotels Corp., Class A Shares | 2584161  |
| 1646 | Las Vegas Sands Corp.  | 93361  |
| 630 | Marcus Corp.  | 10603  |
| 1036 | MGM Resorts International<sup>\*</sup> | 38187  |
| 385 | Travel + Leisure Co.  | 28375  |
| 381 | Wyndham Hotels & Resorts Inc.  | 31166  |
| 424 | Wynn Resorts Ltd.  | 45873  |
|  | Total Lodging | 3336113  |

---

See Notes to Financial Statements.

24<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER CYCLICAL – (continued)**  | **CONSUMER CYCLICAL – (continued)**  | **CONSUMER CYCLICAL – (continued)**  |
| **Office Furnishings – 0.0%**  | **Office Furnishings – 0.0%**  | **Office Furnishings – 0.0%**  |
| 1501 | HNI Corp.  | $67485  |
| 1472 | Interface Inc., Class A Shares | 46353  |
| 491 | Virco Mfg. Corp.  | 3118  |
|  | Total Office Furnishings | 116956  |
| **Retail – 4.2%**  | **Retail – 4.2%**  | **Retail – 4.2%**  |
| 1098 | Abercrombie & Fitch Co., Class A Shares<sup>\*</sup> | 107384  |
| 30096 | Academy Sports & Outdoors Inc.  | 1809673  |
| 1443 | Advance Auto Parts Inc.  | 76724  |
| 3761 | American Eagle Outfitters Inc.  | 92408  |
| 226 | America's Car-Mart Inc.<sup>\*</sup> | 4511  |
| 1938 | Arko Corp.  | 12461  |
| 476 | Asbury Automotive Group Inc.<sup>\*</sup> | 101759  |
| 148 | AutoNation Inc.<sup>\*</sup> | 28884  |
| 519 | Barnes & Noble Education Inc.<sup>\*</sup> | 4489  |
| 280 | Bassett Furniture Industries Inc.  | 4192  |
| 1073 | Bath & Body Works Inc.  | 24421  |
| 992 | Best Buy Co., Inc. | 61474  |
| 18 | Biglari Holdings Inc., Class B Shares<sup>\*</sup> | 6980  |
| 609 | BJ's Restaurants Inc.<sup>\*</sup> | 23136  |
| 671 | BJ's Wholesale Club Holdings Inc.<sup>\*</sup> | 66288  |
| 386 | Black Rock Coffee Bar Inc., Class A Shares<sup>\*</sup> | 5149  |
| 2052 | Bloomin 'Brands Inc.  | 12558  |
| 212 | BlueLinx Holdings Inc.<sup>\*</sup> | 13975  |
| 5251 | Boot Barn Holdings Inc.<sup>\*</sup> | 993594  |
| 1044 | Brinker International Inc.<sup>\*</sup> | 154721  |
| 803 | Buckle Inc.  | 43001  |
| 337 | Build-A-Bear Workshop Inc.  | 16398  |
| 345 | Burlington Stores Inc.<sup>\*</sup> | 105870  |
| 878 | Caleres Inc.  | 10439  |
| 1520 | Camping World Holdings Inc., Class A Shares | 12646  |
| 778 | CarMax Inc.<sup>\*</sup> | 33586  |
| 751 | Carvana Co., Class A Shares<sup>\*</sup> | 250954  |
| 3110 | Casey's General Stores Inc.  | 2132185  |
| 7211 | Cava Group Inc.<sup>\*</sup> | 594691  |
| 13317 | Cheesecake Factory Inc.  | 862675  |
| 113 | Citi Trends Inc.<sup>\*</sup> | 5354  |
| 4002 | Clean Energy Fuels Corp.<sup>\*</sup> | 9045  |
| 569 | Cracker Barrel Old Country Store Inc.<sup>(a)</sup> | 18618  |
| 625 | Darden Restaurants Inc.  | 133656  |
| 624 | Dave & Buster's Entertainment Inc.<sup>\*</sup> | 9185  |
| 788 | Designer Brands Inc., Class A Shares | 5611  |
| 339 | Dick's Sporting Goods Inc.  | 69031  |

---

See Notes to Financial Statements.

25<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER CYCLICAL – (continued)**  | **CONSUMER CYCLICAL – (continued)**  | **CONSUMER CYCLICAL – (continued)**  |
| **Retail – (continued)**  | **Retail – (continued)**  | **Retail – (continued)**  |
| 16 | Dillard's Inc., Class A Shares | $9645  |
| 347 | Dine Brands Global Inc.  | 10743  |
| 1225 | Dollar General Corp.  | 191394  |
| 7944 | Dollar Tree Inc.<sup>\*</sup> | 1004757  |
| 163 | Domino's Pizza Inc.  | 65609  |
| 648 | Dutch Bros Inc., Class A Shares<sup>\*</sup> | 34739  |
| 562 | El Pollo Loco Holdings Inc.<sup>\*</sup> | 6216  |
| 3770 | EVgo Inc., Class A Shares<sup>\*</sup> | 10330  |
| 10544 | Ferguson Enterprises Inc.  | 2749453  |
| 1133 | First Watch Restaurant Group Inc.<sup>\*</sup> | 14117  |
| 934 | FirstCash Holdings Inc.  | 180066  |
| 7953 | Five Below Inc.<sup>\*</sup> | 1777734  |
| 540 | Floor & Decor Holdings Inc., Class A Shares<sup>\*</sup> | 37309  |
| 277 | Freshpet Inc.<sup>\*</sup> | 23393  |
| 2196 | GameStop Corp., Class A Shares<sup>\*</sup> | 52770  |
| 1173 | Gap Inc.  | 32891  |
| 285 | Genesco Inc.<sup>\*</sup> | 7763  |
| 17236 | Genuine Parts Co.  | 2055565  |
| 4513 | Group 1 Automotive Inc.  | 1470065  |
| 271 | Haverty Furniture Cos., Inc.  | 6453  |
| 80 | J Jill Inc.  | 1382  |
| 503 | Jack in the Box Inc.  | 8511  |
| 2653 | Kohl's Corp.  | 43430  |
| 2191 | Krispy Kreme Inc.  | 8216  |
| 139 | Kura Sushi USA Inc., Class A Shares<sup>\*</sup> | 9790  |
| 1108 | La-Z-Boy Inc.  | 39578  |
| 130 | Lithia Motors Inc., Class A Shares | 36345  |
| 571 | Lululemon Athletica Inc.<sup>\*</sup> | 105732  |
| 77901 | Macy's Inc.  | 1540882  |
| 518 | MarineMax Inc.<sup>\*</sup> | 15799  |
| 583 | Movado Group Inc.  | 14546  |
| 266 | MSC Industrial Direct Co., Inc., Class A Shares | 24961  |
| 3626 | Murphy USA Inc.  | 1416823  |
| 34701 | National Vision Holdings Inc.<sup>\*</sup> | 935886  |
| 1123 | Nu Skin Enterprises Inc., Class A Shares | 9523  |
| 310 | Ollie's Bargain Outlet Holdings Inc.<sup>\*</sup> | 33201  |
| 494 | OneWater Marine Inc., Class A Shares<sup>\*</sup> | 5624  |
| 873 | Papa John's International Inc.  | 27369  |
| 291 | PC Connection Inc.  | 17736  |
| 105 | Penske Automotive Group Inc.  | 16540  |
| 1883 | Petco Health & Wellness Co., Inc., Class A Shares<sup>\*</sup> | 4802  |
| 1650 | Portillo's Inc., Class A Shares<sup>\*</sup> | 8811  |

---

See Notes to Financial Statements.

26<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER CYCLICAL – (continued)**  | **CONSUMER CYCLICAL – (continued)**  | **CONSUMER CYCLICAL – (continued)**  |
| **Retail – (continued)**  | **Retail – (continued)**  | **Retail – (continued)**  |
| 616 | PriceSmart Inc.  | $95246  |
| 52447 | QXO Inc.<sup>\*</sup> | 1256106  |
| 1744 | Restaurant Brands International Inc.  | 125062  |
| 88 | RH<sup>\*</sup> | 14582  |
| 9676 | Ross Stores Inc.  | 1989773  |
| 2681 | Sally Beauty Holdings Inc.<sup>\*</sup> | 43084  |
| 934 | Savers Value Village Inc.<sup>\*</sup> | 8808  |
| 942 | Shake Shack Inc., Class A Shares<sup>\*</sup> | 90441  |
| 442 | Shoe Carnival Inc.  | 8924  |
| 1007 | Signet Jewelers Ltd.  | 96863  |
| 369 | Sonic Automotive Inc., Class A Shares | 23144  |
| 2445 | Sweetgreen Inc., Class A Shares<sup>\*</sup> | 13570  |
| 339 | Texas Roadhouse Inc., Class A Shares | 61993  |
| 2955 | Tractor Supply Co.  | 153187  |
| 2259 | Ulta Beauty Inc.<sup>\*</sup> | 1546941  |
| 13777 | Urban Outfitters Inc.<sup>\*</sup> | 912037  |
| 1700 | Victoria's Secret & Co.<sup>\*</sup> | 106590  |
| 2345 | Warby Parker Inc., Class A Shares<sup>\*</sup> | 58648  |
| 992 | Wendy's Co.<sup>(a)</sup> | 7599  |
| 633 | Williams-Sonoma Inc.  | 130176  |
| 141 | Wingstop Inc.  | 36591  |
| 75 | Winmark Corp.  | 34218  |
| 13457 | Yum! Brands Inc. | 2262929  |
| 348 | Zumiez Inc.<sup>\*</sup> | 9125  |
|  | Total Retail | 31069862  |
| **Textiles – 0.0%**  | **Textiles – 0.0%**  | **Textiles – 0.0%**  |
| 362 | UniFirst Corp.  | 85005  |
| **Toys/Games/Hobbies – 0.1%**  | **Toys/Games/Hobbies – 0.1%**  | **Toys/Games/Hobbies – 0.1%**  |
| 720 | Funko Inc., Class A Shares<sup>\*</sup> | 3600  |
| 9239 | Hasbro Inc.  | 920112  |
| 154 | JAKKS Pacific Inc.  | 3367  |
| 1615 | Mattel Inc.<sup>\*</sup> | 27374  |
|  | Total Toys/Games/Hobbies | 954453  |
|  | **TOTAL CONSUMER CYCLICAL** | **84237432**  |
| **CONSUMER NON-CYCLICAL – 18.7%**  | **CONSUMER NON-CYCLICAL – 18.7%**  | **CONSUMER NON-CYCLICAL – 18.7%**  |
| **Agriculture – 0.1%**  | **Agriculture – 0.1%**  | **Agriculture – 0.1%**  |
| 131 | Alico Inc.  | 5408  |
| 853 | Andersons Inc.  | 55692  |
| 2657 | Archer-Daniels-Midland Co.  | 183439  |
| 743 | Bunge Global SA | 89643  |
| 784 | Darling Ingredients Inc.<sup>\*</sup> | 41678  |
| 1957 | Dole PLC | 31390  |

---

See Notes to Financial Statements.

27<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  |
| **Agriculture – (continued)**  | **Agriculture – (continued)**  | **Agriculture – (continued)**  |
| 871 | Fresh Del Monte Produce Inc.  | $37392  |
| 391 | Ispire Technology Inc.<sup>\*</sup> | 919  |
| 392 | Limoneira Co. | 5523  |
| 464 | Tejon Ranch Co.<sup>\*</sup> | 8171  |
| 4606 | Turning Point Brands Inc. | 630976  |
| 623 | Universal Corp. | 33474  |
| 931 | Vital Farms Inc.<sup>\*</sup> | 19635  |
|  | Total Agriculture | 1143340  |
| **Beverages – 0.6%**  | **Beverages – 0.6%**  | **Beverages – 0.6%**  |
| 50 | Boston Beer Co., Inc., Class A Shares<sup>\*</sup> | 11339  |
| 2109 | BRC Inc., Class A Shares<sup>\*</sup> | 1328  |
| 240 | Brown-Forman Corp., Class A Shares | 7046  |
| 726 | Brown-Forman Corp., Class B Shares | 20952  |
| 12689 | Celsius Holdings Inc.<sup>\*</sup> | 680257  |
| 315 | Coca-Cola Consolidated Inc. | 63756  |
| 15577 | Constellation Brands Inc., Class A Shares | 2458985  |
| 8219 | MGP Ingredients Inc. | 156161  |
| 953 | Molson Coors Beverage Co., Class B Shares | 46688  |
| 605 | National Beverage Corp.<sup>\*</sup> | 21992  |
| 1298 | Primo Brands Corp., Class A Shares | 29439  |
| 20651 | Vita Coco Co., Inc.<sup>\*</sup> | 1198997  |
| 1130 | Westrock Coffee Co.<sup>\*</sup> | 4995  |
| 774 | Zevia PBC, Class A Shares<sup>\*</sup> | 1037  |
|  | Total Beverages | 4702972  |
| **Biotechnology – 6.9%**  | **Biotechnology – 6.9%**  | **Biotechnology – 6.9%**  |
| 976 | 4D Molecular Therapeutics Inc.<sup>\*</sup> | 9428  |
| 44214 | AbCellera Biologics Inc.<sup>\*</sup> | 159613  |
| 1404 | Abeona Therapeutics Inc.<sup>\*</sup> | 7188  |
| 3065 | Absci Corp.<sup>\*</sup> | 8398  |
| 2984 | ACADIA Pharmaceuticals Inc.<sup>\*</sup> | 73287  |
| 3124 | ADC Therapeutics SA<sup>\*</sup> | 12808  |
| 5598 | ADMA Biologics Inc.<sup>\*</sup> | 87161  |
| 1685 | Akero Therapeutics Inc.<sup>\*(b)(c)</sup> | 1095  |
| 6296 | Aktis Oncology Inc.<sup>\*</sup> | 126738  |
| 1104 | Aldeyra Therapeutics Inc.<sup>\*</sup> | 6028  |
| 2403 | Alector Inc.<sup>\*</sup> | 5839  |
| 3487 | Allogene Therapeutics Inc.<sup>\*</sup> | 9694  |
| 4173 | Alnylam Pharmaceuticals Inc.<sup>\*</sup> | 1389275  |
| 1655 | Altimmune Inc.<sup>\*</sup> | 7133  |
| 1811 | Alumis Inc.<sup>\*</sup> | 53769  |
| 7044 | Amicus Therapeutics Inc.<sup>\*</sup> | 101222  |
| 421 | AnaptysBio Inc.<sup>\*</sup> | 23176  |

---

See Notes to Financial Statements.

28<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  |
| **Biotechnology – (continued)**  | **Biotechnology – (continued)**  | **Biotechnology – (continued)**  |
| 2026 | Anavex Life Sciences Corp.<sup>\*(a)</sup> | $8975  |
| 5376 | ANI Pharmaceuticals Inc.<sup>\*</sup> | 397286  |
| 3027 | Annexon Inc.<sup>\*</sup> | 16951  |
| 585 | Apellis Pharmaceuticals Inc.<sup>\*</sup> | 12262  |
| 34876 | Apogee Therapeutics Inc.<sup>\*</sup> | 2441320  |
| 3443 | Arbutus Biopharma Corp.<sup>\*</sup> | 16044  |
| 876 | Arcellx Inc.<sup>\*</sup> | 99680  |
| 525 | Arcturus Therapeutics Holdings Inc.<sup>\*</sup> | 4321  |
| 2015 | Arcus Biosciences Inc.<sup>\*</sup> | 41046  |
| 31555 | Arcutis Biotherapeutics Inc.<sup>\*</sup> | 851038  |
| 6049 | Ardelyx Inc.<sup>\*</sup> | 39621  |
| 969 | Argenx SE, ADR<sup>\*</sup> | 743145  |
| 714 | ArriVent Biopharma Inc.<sup>\*</sup> | 16401  |
| 31192 | Arrowhead Pharmaceuticals Inc.<sup>\*</sup> | 1973518  |
| 1557 | ARS Pharmaceuticals Inc.<sup>\*</sup> | 14449  |
| 1524 | Atea Pharmaceuticals Inc.<sup>\*</sup> | 7132  |
| 1446 | Aura Biosciences Inc.<sup>\*</sup> | 8517  |
| 2711 | Aurinia Pharmaceuticals Inc.<sup>\*</sup> | 38415  |
| 2728 | Avidity Biosciences Inc.<sup>\*(c)</sup> | 196416  |
| 967 | Axsome Therapeutics Inc.<sup>\*</sup> | 158482  |
| 2416 | Beam Therapeutics Inc.<sup>\*</sup> | 68759  |
| 493 | Benitec Biopharma Inc.<sup>\*</sup> | 5374  |
| 982 | Bicara Therapeutics Inc.<sup>\*</sup> | 16478  |
| 883 | BioAge Labs Inc.<sup>\*</sup> | 19664  |
| 5530 | BioCryst Pharmaceuticals Inc.<sup>\*</sup> | 48387  |
| 785 | Biogen Inc.<sup>\*</sup> | 150579  |
| 2320 | Biohaven Ltd.<sup>\*</sup> | 26726  |
| 1057 | BioMarin Pharmaceutical Inc.<sup>\*</sup> | 65249  |
| 115 | Bio-Rad Laboratories Inc., Class A Shares<sup>\*</sup> | 32021  |
| 21249 | Bridgebio Pharma Inc.<sup>\*</sup> | 1412634  |
| 7610 | Bright Minds Biosciences Inc.<sup>\*(b)</sup> | 637870  |
| 797 | Capricor Therapeutics Inc.<sup>\*</sup> | 22260  |
| 1935 | Cardiff Oncology Inc.<sup>\*(a)</sup> | 3754  |
| 326 | Cartesian Therapeutics Inc.<sup>\*</sup> | 2474  |
| 7559 | Celcuity Inc.<sup>\*</sup> | 844416  |
| 1694 | Celldex Therapeutics Inc.<sup>\*</sup> | 50972  |
| 921 | Certara Inc.<sup>\*</sup> | 6521  |
| 1359 | CG oncology Inc.<sup>\*</sup> | 79909  |
| 3391 | Cogent Biosciences Inc.<sup>\*</sup> | 131740  |
| 3209 | Compass Therapeutics Inc.<sup>\*</sup> | 18131  |
| 1073 | Contra Alimera Science<sup>\*(b)(c)</sup> | 43  |
| 3802 | Corteva Inc.  | 304616  |

---

See Notes to Financial Statements.

29<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  |
| **Biotechnology – (continued)**  | **Biotechnology – (continued)**  | **Biotechnology – (continued)**  |
| 111648 | Crinetics Pharmaceuticals Inc.<sup>\*</sup> | $4588733  |
| 2067 | CRISPR Therapeutics AG<sup>\*</sup> | 124309  |
| 1309 | Cullinan Therapeutics Inc.<sup>\*</sup> | 20289  |
| 3278 | Cytek Biosciences Inc.<sup>\*</sup> | 14685  |
| 2753 | Cytokinetics Inc.<sup>\*</sup> | 171292  |
| 2151 | Day One Biopharmaceuticals Inc.<sup>\*</sup> | 22801  |
| 57256 | Definium Therapeutics Inc.<sup>\*</sup> | 999117  |
| 3311 | Denali Therapeutics Inc.<sup>\*</sup> | 70127  |
| 581 | Design Therapeutics Inc.<sup>\*</sup> | 6066  |
| 648 | DiaMedica Therapeutics Inc.<sup>\*</sup> | 5152  |
| 577 | Dianthus Therapeutics Inc.<sup>\*</sup> | 31845  |
| 626 | Disc Medicine Inc., Class A Shares<sup>\*</sup> | 41704  |
| 3035 | Dyne Therapeutics Inc.<sup>\*</sup> | 47407  |
| 34762 | Edgewise Therapeutics Inc.<sup>\*</sup> | 1058155  |
| 2959 | Editas Medicine Inc.<sup>\*</sup> | 6510  |
| 2075 | Eledon Pharmaceuticals Inc.<sup>\*</sup> | 5436  |
| 1657 | Emergent BioSolutions Inc.<sup>\*</sup> | 13505  |
| 543 | Entrada Therapeutics Inc.<sup>\*</sup> | 6478  |
| 4782 | Erasca Inc.<sup>\*</sup> | 65322  |
| 4211 | Esperion Therapeutics Inc.<sup>\*</sup> | 14107  |
| 1358 | Evolus Inc.<sup>\*</sup> | 5839  |
| 20884 | Exelixis Inc.<sup>\*</sup> | 920149  |
| 1427 | EyePoint Inc.<sup>\*</sup> | 25058  |
| 3093 | Fate Therapeutics Inc.<sup>\*</sup> | 4578  |
| 15412 | Geron Corp.<sup>\*</sup> | 25892  |
| 6117 | Gossamer Bio Inc.<sup>\*</sup> | 2599  |
| 331 | Greenwich Lifesciences Inc.<sup>\*</sup> | 9175  |
| 616 | Halozyme Therapeutics Inc.<sup>\*</sup> | 42830  |
| 3124 | Humacyte Inc.<sup>\*(a)</sup> | 3483  |
| 1989 | Ideaya Biosciences Inc.<sup>\*</sup> | 64046  |
| 867 | Illumina Inc.<sup>\*</sup> | 116577  |
| 6978 | ImmunityBio Inc.<sup>\*(a)</sup> | 68245  |
| 51154 | Immunome Inc.<sup>\*</sup> | 1118226  |
| 1592 | Immunovant Inc.<sup>\*</sup> | 44146  |
| 8297 | Incyte Corp.<sup>\*</sup> | 840237  |
| 220 | Inhibrx Biosciences Inc.<sup>\*</sup> | 16309  |
| 650 | Inmune Bio Inc.<sup>\*</sup> | 838  |
| 1476 | Innoviva Inc.<sup>\*</sup> | 33889  |
| 7272 | Insmed Inc.<sup>\*</sup> | 1085928  |
| 2508 | Intellia Therapeutics Inc.<sup>\*</sup> | 34560  |
| 142837 | Invivyd Inc.<sup>\*</sup> | 241395  |
| 859 | Ionis Pharmaceuticals Inc.<sup>\*</sup> | 69708  |

---

See Notes to Financial Statements.

30<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  |
| **Biotechnology – (continued)**  | **Biotechnology – (continued)**  | **Biotechnology – (continued)**  |
| 7637 | Iovance Biotherapeutics Inc.<sup>\*</sup> | $29479  |
| 1003 | Jade Biosciences Inc.  | 14874  |
| 917 | Janux Therapeutics Inc.<sup>\*</sup> | 12480  |
| 827 | Keros Therapeutics Inc.<sup>\*</sup> | 11735  |
| 17323 | Kiniksa Pharmaceuticals International PLC, Class A Shares<sup>\*</sup> | 770700  |
| 801 | Kodiak Sciences Inc.<sup>\*</sup> | 21467  |
| 140 | Korro Bio Inc.<sup>\*</sup> | 1698  |
| 597 | Krystal Biotech Inc.<sup>\*</sup> | 164557  |
| 1878 | Kura Oncology Inc.<sup>\*</sup> | 16395  |
| 11260 | Kymera Therapeutics Inc.<sup>\*</sup> | 1028601  |
| 49031 | Larimar Therapeutics Inc.<sup>\*</sup> | 260355  |
| 454 | LB Pharmaceuticals Inc.<sup>\*</sup> | 10901  |
| 446 | LENZ Therapeutics Inc.<sup>\*</sup> | 6017  |
| 1487 | Lexeo Therapeutics Inc.<sup>\*</sup> | 10677  |
| 3831 | Ligand Pharmaceuticals Inc.<sup>\*</sup> | 759726  |
| 1561 | Liquidia Corp.<sup>\*</sup> | 48422  |
| 398 | MapLight Therapeutics Inc.<sup>\*</sup> | 6873  |
| 2798 | Maravai LifeSciences Holdings Inc., Class A Shares<sup>\*</sup> | 9961  |
| 479 | Maze Therapeutics Inc.<sup>\*</sup> | 21838  |
| 25346 | MBX Biosciences Inc.<sup>\*</sup> | 825012  |
| 1494 | MeiraGTx Holdings PLC<sup>\*</sup> | 11295  |
| 1007 | Mineralys Therapeutics Inc.<sup>\*</sup> | 29465  |
| 199 | Mirati Therapeutics Inc.<sup>\*(b)(c)</sup> | 139  |
| 1998 | Moderna Inc.<sup>\*</sup> | 107033  |
| 135 | Monopar Therapeutics Inc.<sup>\*</sup> | 7399  |
| 950 | Monte Rosa Therapeutics Inc.<sup>\*</sup> | 16862  |
| 2357 | Myriad Genetics Inc.<sup>\*</sup> | 10866  |
| 55636 | NeoGenomics Inc.<sup>\*</sup> | 546902  |
| 1498 | Niagen Bioscience Inc.<sup>\*</sup> | 7565  |
| 2164 | Nkarta Inc.<sup>\*</sup> | 5843  |
| 3470 | Novavax Inc.<sup>\*</sup> | 35186  |
| 2362 | Nurix Therapeutics Inc.<sup>\*</sup> | 37721  |
| 9917 | Nuvalent Inc., Class A Shares<sup>\*</sup> | 1011038  |
| 5681 | Nuvation Bio Inc.<sup>\*</sup> | 33575  |
| 1571 | Olema Pharmaceuticals Inc.<sup>\*</sup> | 38018  |
| 1323 | Omeros Corp.<sup>\*</sup> | 15942  |
| 2438 | Organogenesis Holdings Inc., Class A Shares<sup>\*</sup> | 7826  |
| 850 | Oruka Therapeutics Inc.<sup>\*</sup> | 29249  |
| 222 | Palvella Therapeutics Inc.<sup>\*</sup> | 29974  |
| 1850 | Perspective Therapeutics Inc.<sup>\*</sup> | 9990  |
| 1253 | Phathom Pharmaceuticals Inc.<sup>\*</sup> | 15738  |
| 18590 | Praxis Precision Medicines Inc.<sup>\*</sup> | 6260183  |

---

See Notes to Financial Statements.

31<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  |
| **Biotechnology – (continued)**  | **Biotechnology – (continued)**  | **Biotechnology – (continued)**  |
| 127231 | Precigen Inc.<sup>\*</sup> | $482205  |
| 2350 | Prime Medicine Inc.<sup>\*</sup> | 10857  |
| 2547 | Protalix BioTherapeutics Inc.<sup>\*</sup> | 7335  |
| 792 | Protara Therapeutics Inc.<sup>\*</sup> | 5037  |
| 1032 | Prothena Corp. PLC<sup>\*</sup> | 8947  |
| 23415 | PTC Therapeutics Inc.<sup>\*</sup> | 1596669  |
| 2018 | Puma Biotechnology Inc.<sup>\*</sup> | 11503  |
| 671 | Rapport Therapeutics Inc.<sup>\*</sup> | 19479  |
| 8949 | Recursion Pharmaceuticals Inc., Class A Shares<sup>\*(a)</sup> | 32843  |
| 3600 | Regeneron Pharmaceuticals Inc. | 2814012  |
| 1455 | REGENXBIO Inc.<sup>\*</sup> | 13153  |
| 3206 | Relay Therapeutics Inc.<sup>\*</sup> | 32894  |
| 1856 | Replimune Group Inc.<sup>\*</sup> | 14198  |
| 956 | Revolution Medicines Inc.<sup>\*</sup> | 97531  |
| 2118 | Rezolute Inc.<sup>\*</sup> | 6799  |
| 515 | Rigel Pharmaceuticals Inc.<sup>\*</sup> | 17891  |
| 1696 | Rocket Pharmaceuticals Inc.<sup>\*</sup> | 8497  |
| 2174 | Roivant Sciences Ltd.<sup>\*</sup> | 62916  |
| 2169 | Royalty Pharma PLC, Class A Shares | 100229  |
| 3020 | Sana Biotechnology Inc.<sup>\*</sup> | 12714  |
| 549 | Sarepta Therapeutics Inc.<sup>\*</sup> | 9201  |
| 3419 | Savara Inc.<sup>\*</sup> | 20582  |
| 19599 | Scholar Rock Holding Corp.<sup>\*</sup> | 867648  |
| 28883 | Septerna Inc.<sup>\*</sup> | 838185  |
| 423 | Sionna Therapeutics Inc.<sup>\*</sup> | 15456  |
| 967 | Soleno Therapeutics Inc.<sup>\*</sup> | 37781  |
| 1875 | Solid Biosciences Inc.<sup>\*</sup> | 11644  |
| 1118 | Stoke Therapeutics Inc.<sup>\*</sup> | 40706  |
| 27579 | Structure Therapeutics Inc., ADR<sup>\*</sup> | 1736925  |
| 736 | Summit Therapeutics Inc.<sup>\*</sup> | 12210  |
| 2149 | Syndax Pharmaceuticals Inc.<sup>\*</sup> | 46655  |
| 2506 | Tango Therapeutics Inc.<sup>\*</sup> | 27917  |
| 9939 | Tarsus Pharmaceuticals Inc.<sup>\*</sup> | 750593  |
| 5210 | Taysha Gene Therapies Inc.<sup>\*</sup> | 23601  |
| 363 | Tectonic Therapeutic Inc.<sup>\*</sup> | 8512  |
| 2021 | Terns Pharmaceuticals Inc.<sup>\*</sup> | 85125  |
| 3423 | TG Therapeutics Inc.<sup>\*</sup> | 102998  |
| 810 | Theravance Biopharma Inc.<sup>\*</sup> | 14783  |
| 840 | Third Harmonic Bio Inc.<sup>\*(b)</sup> | 25  |
| 1944 | Travere Therapeutics Inc.<sup>\*</sup> | 57912  |
| 115 | Tvardi Therapeutics Inc.<sup>\*</sup> | 459  |
| 429 | Tyra Biosciences Inc.<sup>\*</sup> | 14290  |

---

See Notes to Financial Statements.

32<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  |
| **Biotechnology – (continued)**  | **Biotechnology – (continued)**  | **Biotechnology – (continued)**  |
| 529 | Ultragenyx Pharmaceutical Inc.<sup>\*</sup> | $12373  |
| 245 | United Therapeutics Corp.<sup>\*</sup> | 123456  |
| 773 | Upstream Bio Inc.<sup>\*</sup> | 5937  |
| 907 | UroGen Pharma Ltd.<sup>\*</sup> | 19682  |
| 1203 | Vera Therapeutics Inc., Class A Shares<sup>\*</sup> | 49070  |
| 1870 | Veracyte Inc.<sup>\*</sup> | 68423  |
| 1463 | Verastem Inc.<sup>\*</sup> | 8368  |
| 1270 | Vericel Corp.<sup>\*</sup> | 45314  |
| 631 | Viking Therapeutics Inc.<sup>\*</sup> | 21353  |
| 2217 | Vir Biotechnology Inc.<sup>\*</sup> | 20153  |
| 1883 | Viridian Therapeutics Inc.<sup>\*</sup> | 55323  |
| 93972 | WaVe Life Sciences Ltd.<sup>\*</sup> | 1309030  |
| 1886 | Xencor Inc.<sup>\*</sup> | 24084  |
| 57160 | Xenon Pharmaceuticals Inc.<sup>\*</sup> | 2471027  |
| 186 | XOMA Royalty Corp.<sup>\*</sup> | 4749  |
| 422 | Zenas Biopharma Inc.<sup>\*</sup> | 11120  |
| 1220 | Zevra Therapeutics Inc.<sup>\*</sup> | 10895  |
| 1409 | Zymeworks Inc.<sup>\*</sup> | 32816  |
|  | Total Biotechnology | 51873862  |
| **Commercial Services – 3.2%**  | **Commercial Services – 3.2%**  | **Commercial Services – 3.2%**  |
| 1488 | ABM Industries Inc.  | 66216  |
| 668 | Acacia Research Corp.<sup>\*</sup> | 2799  |
| 2747 | ADT Inc.  | 22031  |
| 1532 | Affirm Holdings Inc., Class A Shares<sup>\*</sup> | 71973  |
| 727 | AirSculpt Technologies Inc.<sup>\*</sup> | 1149  |
| 1143 | Alarm.com Holdings Inc.<sup>\*</sup> | 54693  |
| 10331 | Alight Inc., Class A Shares | 9088  |
| 309 | Alta Equipment Group Inc.  | 2132  |
| 13034 | American Public Education Inc.<sup>\*</sup> | 597218  |
| 989 | AMN Healthcare Services Inc.<sup>\*</sup> | 19266  |
| 15880 | Andersen Group Inc., Class A Shares<sup>\*</sup> | 367622  |
| 1999 | API Group Corp.<sup>\*</sup> | 88876  |
| 2358 | Arlo Technologies Inc.<sup>\*</sup> | 36997  |
| 89 | Avis Budget Group Inc.<sup>\*(a)</sup> | 8669  |
| 654 | Barrett Business Services Inc.  | 18162  |
| 2982 | Block Inc., Class A Shares<sup>\*</sup> | 189953  |
| 641 | Booz Allen Hamilton Holding Corp., Class A Shares | 50530  |
| 286 | Bright Horizons Family Solutions Inc.<sup>\*</sup> | 21313  |
| 1488 | BrightView Holdings Inc.<sup>\*</sup> | 20520  |
| 1024 | Brink's Co.  | 119572  |
| 988 | Cadiz Inc.<sup>\*</sup> | 5138  |
| 326 | Carriage Services Inc., Class A Shares | 15019  |

---

See Notes to Financial Statements.

33<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  |
| **Commercial Services – (continued)**  | **Commercial Services – (continued)**  | **Commercial Services – (continued)**  |
| 325 | Cass Information Systems Inc.  | $14423  |
| 1265 | CBIZ Inc.<sup>\*</sup> | 36230  |
| 1084 | Chaince Digital Holdings Inc., ADR<sup>\*</sup> | 6363  |
| 365 | Cimpress PLC<sup>\*</sup> | 26663  |
| 2196 | Clarivate PLC<sup>\*</sup> | 5051  |
| 2491 | CoreCivic Inc.<sup>\*</sup> | 44041  |
| 372 | Corpay Inc.<sup>\*</sup> | 120937  |
| 3716 | Coursera Inc.<sup>\*</sup> | 23820  |
| 863 | Covista Inc.<sup>\*</sup> | 84574  |
| 237 | CPI Card Group Inc.<sup>\*</sup> | 2907  |
| 171 | CRA International Inc.  | 29525  |
| 876 | Cross Country Healthcare Inc.<sup>\*</sup> | 7621  |
| 1729 | Custom Truck One Source Inc.<sup>\*</sup> | 12380  |
| 1122 | Deluxe Corp.  | 31135  |
| 195 | Distribution Solutions Group Inc.<sup>\*</sup> | 5831  |
| 1526 | Driven Brands Holdings Inc.<sup>\*</sup> | 16786  |
| 422 | Emerald Holding Inc. | 1760  |
| 603 | Ennis Inc.  | 12729  |
| 659 | Equifax Inc. | 137705  |
| 27558 | EquipmentShare.com Inc., Class A Shares<sup>\*</sup> | 799733  |
| 262 | Euronet Worldwide Inc.<sup>\*</sup> | 18222  |
| 1262 | European Wax Center Inc., Class A Shares<sup>\*</sup> | 7219  |
| 1540 | EVERTEC Inc.  | 43597  |
| 1863 | First Advantage Corp.<sup>\*</sup> | 21443  |
| 3188 | Flywire Corp.<sup>\*</sup> | 39244  |
| 219 | Forrester Research Inc.<sup>\*</sup> | 1310  |
| 253 | Franklin Covey Co.<sup>\*</sup> | 3294  |
| 2422 | FTAI Infrastructure Inc.  | 14060  |
| 167 | FTI Consulting Inc.<sup>\*</sup> | 27458  |
| 3293 | GEO Group Inc.<sup>\*</sup> | 49527  |
| 1316 | Global Payments Inc.  | 100621  |
| 1280 | GPGI Inc., Class A Shares | 28736  |
| 81 | Graham Holdings Co., Class B Shares | 85310  |
| 139 | Grand Canyon Education Inc.<sup>\*</sup> | 22111  |
| 1197 | Green Dot Corp., Class A Shares<sup>\*</sup> | 13837  |
| 670 | H&R Block Inc.  | 20515  |
| 683 | Hackett Group Inc. | 9330  |
| 1863 | Healthcare Services Group Inc.<sup>\*</sup> | 40558  |
| 790 | Herc Holdings Inc.  | 110434  |
| 2710 | Hertz Global Holdings Inc.<sup>\*(a)</sup> | 12303  |
| 320 | HireQuest Inc.  | 3731  |
| 17264 | Huron Consulting Group Inc.<sup>\*</sup> | 2441130  |

---

See Notes to Financial Statements.

34<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  |
| **Commercial Services – (continued)**  | **Commercial Services – (continued)**  | **Commercial Services – (continued)**  |
| 435 | ICF International Inc.  | $36162  |
| 616 | Information Services Group Inc.  | 2963  |
| 862 | Insperity Inc.  | 19145  |
| 978 | John Wiley & Sons Inc., Class A Shares | 30338  |
| 716 | Kelly Services Inc., Class A Shares | 6952  |
| 481 | Kforce Inc.  | 12997  |
| 753 | KinderCare Learning Cos., Inc.<sup>\*</sup> | 2636  |
| 24515 | Korn Ferry | 1536355  |
| 3095 | Laureate Education Inc., Class A Shares<sup>\*</sup> | 100092  |
| 2570 | Legalzoom.com Inc.<sup>\*</sup> | 18067  |
| 873 | Legence Corp., Class A Shares<sup>\*</sup> | 50678  |
| 756 | Lifecore Biomedical Inc.<sup>\*</sup> | 5443  |
| 19932 | Lincoln Educational Services Corp.<sup>\*</sup> | 722336  |
| 269 | ManpowerGroup Inc.  | 7524  |
| 2471 | MarketAxess Holdings Inc.  | 474432  |
| 9191 | Marqeta Inc., Class A Shares<sup>\*</sup> | 35293  |
| 743 | Matthews International Corp., Class A Shares | 19637  |
| 410 | Medifast Inc.<sup>\*</sup> | 4317  |
| 2345 | Mister Car Wash Inc.<sup>\*</sup> | 16696  |
| 757 | Monro Inc.  | 16298  |
| 119 | Morningstar Inc.  | 21794  |
| 528 | National Research Corp.  | 7080  |
| 256 | NIQ Global Intelligence PLC<sup>\*</sup> | 3412  |
| 2005 | NPK International Inc.<sup>\*</sup> | 28932  |
| 228 | Paylocity Holding Corp.<sup>\*</sup> | 24280  |
| 6993 | Payoneer Global Inc.<sup>\*</sup> | 30210  |
| 805 | Paysafe Ltd.<sup>\*</sup> | 5039  |
| 1466 | Perdoceo Education Corp.  | 48891  |
| 744 | Priority Technology Holdings Inc.<sup>\*</sup> | 4129  |
| 956 | PROG Holdings Inc.  | 33661  |
| 1890 | Progyny Inc.<sup>\*</sup> | 33434  |
| 1041 | Quad/Graphics Inc.  | 7193  |
| 11262 | Quanta Services Inc.  | 6341407  |
| 170 | RCM Technologies Inc.<sup>\*</sup> | 3215  |
| 4072 | Remitly Global Inc.<sup>\*</sup> | 68002  |
| 2093 | Repay Holdings Corp., Class A Shares<sup>\*</sup> | 5819  |
| 1227 | Resources Connection Inc.  | 4614  |
| 605 | Robert Half Inc.  | 14774  |
| 35141 | Rollins Inc.  | 2139735  |
| 712 | Service Corp. International | 59936  |
| 354 | Sezzle Inc.<sup>\*</sup> | 25824  |
| 363 | Shift4 Payments Inc., Class A Shares<sup>\*(a)</sup> | 15997  |

---

See Notes to Financial Statements.

35<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  |
| **Commercial Services – (continued)**  | **Commercial Services – (continued)**  | **Commercial Services – (continued)**  |
| 176 | SoundThinking Inc.<sup>\*</sup> | $1285  |
| 781 | Spire Global Inc.<sup>\*</sup> | 6912  |
| 6026 | StoneCo Ltd., Class A Shares<sup>\*</sup> | 101237  |
| 575 | Strategic Education Inc.  | 47311  |
| 1067 | Stride Inc.<sup>\*</sup> | 90033  |
| 1220 | Target Hospitality Corp.<sup>\*</sup> | 9504  |
| 4721 | TIC Solutions Inc.<sup>\*</sup> | 44708  |
| 2574 | Toast Inc., Class A Shares<sup>\*</sup> | 70296  |
| 259 | Transcat Inc.<sup>\*</sup> | 20194  |
| 1057 | TransUnion  | 83027  |
| 715 | TriNet Group Inc.  | 27227  |
| 1175 | TrueBlue Inc.<sup>\*</sup> | 4970  |
| 2259 | Udemy Inc.<sup>\*</sup> | 11363  |
| 47 | U-Haul Holding Co.<sup>\*</sup> | 2381  |
| 599 | U-Haul Holding Co. (Non-Voting), Class B Shares | 28249  |
| 15176 | UL Solutions Inc., Class A Shares | 1274329  |
| 348 | United Rentals Inc.  | 292320  |
| 21918 | Universal Technical Institute Inc.<sup>\*</sup> | 793432  |
| 1404 | Upbound Group Inc.  | 30116  |
| 262 | USCB Financial Holdings Inc.  | 4960  |
| 37825 | Valvoline Inc.<sup>\*</sup> | 1429785  |
| 778 | Verisk Analytics Inc., Class A Shares | 161489  |
| 3858 | Verra Mobility Corp., Class A Shares<sup>\*</sup> | 64467  |
| 3335 | Vestis Corp.<sup>\*</sup> | 26246  |
| 169 | WEX Inc.<sup>\*</sup> | 25213  |
| 8486 | Willdan Group Inc.<sup>\*</sup> | 756442  |
| 885 | WillScot Holdings Corp.  | 19125  |
|  | Total Commercial Services | 23795500  |
| **Cosmetics/Personal Care – 0.5%**  | **Cosmetics/Personal Care – 0.5%**  | **Cosmetics/Personal Care – 0.5%**  |
| 3178 | Beauty Health Co.<sup>\*</sup> | 3305  |
| 2077 | Coty Inc., Class A Shares<sup>\*</sup> | 5213  |
| 1291 | Edgewell Personal Care Co.  | 29357  |
| 276 | elf Beauty Inc.<sup>\*</sup> | 25406  |
| 1322 | Estee Lauder Cos., Inc., Class A Shares | 144719  |
| 2231 | Honest Co., Inc.<sup>\*</sup> | 6247  |
| 439 | Interparfums Inc.  | 44243  |
| 10308 | Kenvue Inc. | 197089  |
| 5994 | Olaplex Holdings Inc.<sup>\*</sup> | 9650  |
| 782 | Perrigo Co. PLC | 10338  |
| 44460 | Prestige Consumer Healthcare Inc.<sup>\*</sup> | 3081078  |
| 671 | Waldencast PLC, Class A Shares<sup>\*</sup> | 1134  |
|  | Total Cosmetics/Personal Care  | 3557779  |

---

See Notes to Financial Statements.

36<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  |
| **Food – 1.0%**  | **Food – 1.0%**  | **Food – 1.0%**  |
| 2105 | Albertsons Cos., Inc., Class A Shares | $37679  |
| 2550 | B&G Foods Inc.  | 13541  |
| 9035 | Beyond Meat Inc.<sup>\*(a)</sup> | 8544  |
| 392 | Calavo Growers Inc.  | 10521  |
| 1043 | Cal-Maine Foods Inc.  | 90856  |
| 973 | Campbell's Co.  | 26222  |
| 872 | Chefs' Warehouse Inc.<sup>\*</sup> | 62252  |
| 2667 | Conagra Brands Inc.  | 51340  |
| 1095 | Flowers Foods Inc.  | 10819  |
| 2888 | General Mills Inc.  | 130624  |
| 2220 | Grocery Outlet Holding Corp.<sup>\*</sup> | 21934  |
| 2265 | Hain Celestial Group Inc.<sup>\*</sup> | 1811  |
| 810 | Hershey Co.  | 191387  |
| 745 | HF Foods Group Inc.<sup>\*</sup> | 1557  |
| 1470 | Hormel Foods Corp.  | 37632  |
| 370 | Ingles Markets Inc., Class A Shares | 31487  |
| 10344 | Ingredion Inc.  | 1215006  |
| 404 | J & J Snack Foods Corp.  | 35172  |
| 578 | JM Smucker Co.  | 67019  |
| 225 | John B Sanfilippo & Son Inc.  | 18587  |
| 4566 | Kraft Heinz Co.  | 112369  |
| 3302 | Kroger Co.  | 225328  |
| 687 | Lamb Weston Holdings Inc.  | 33107  |
| 233 | Lifeway Foods Inc.<sup>\*</sup> | 5163  |
| 23785 | Mama's Creations Inc.<sup>\*</sup> | 407675  |
| 6672 | Marzetti Co.  | 1096476  |
| 1370 | McCormick & Co., Inc.  | 97325  |
| 1336 | Mission Produce Inc.<sup>\*</sup> | 18958  |
| 96 | Nathan's Famous Inc.  | 9656  |
| 380 | Natural Grocers by Vitamin Cottage Inc.  | 10271  |
| 20294 | Performance Food Group Co.<sup>\*</sup> | 1969736  |
| 226 | Pilgrim's Pride Corp.  | 9754  |
| 292 | Post Holdings Inc.<sup>\*</sup> | 31040  |
| 1 | Seaboard Corp.  | 5133  |
| 106 | Seneca Foods Corp., Class A Shares<sup>\*</sup> | 14732  |
| 2256 | Simply Good Foods Co.<sup>\*</sup> | 38487  |
| 152 | Smithfield Foods Inc.  | 3782  |
| 503 | Sprouts Farmers Market Inc.<sup>\*</sup> | 37157  |
| 2265 | SunOpta Inc.<sup>\*(b)</sup> | 14677  |
| 2632 | Sysco Corp.  | 239933  |
| 515 | Tootsie Roll Industries Inc.  | 21748  |
| 1518 | Tyson Foods Inc., Class A Shares | 98655  |

---

See Notes to Financial Statements.

37<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  |
| **Food – (continued)**  | **Food – (continued)**  | **Food – (continued)**  |
| 1411 | United Natural Foods Inc.<sup>\*</sup> | $53914  |
| 9893 | US Foods Holding Corp.<sup>\*</sup> | 955763  |
| 1678 | Utz Brands Inc.  | 15589  |
| 309 | Village Super Market Inc., Class A Shares | 12097  |
| 323 | Weis Markets Inc.  | 21886  |
|  | Total Food | 7624401  |
| **Healthcare-Products – 3.3%**  | **Healthcare-Products – 3.3%**  | **Healthcare-Products – 3.3%**  |
| 2478 | 10X Genomics Inc., Class A Shares<sup>\*</sup> | 57118  |
| 1695 | Accuray Inc.<sup>\*</sup> | 979  |
| 70116 | Adaptive Biotechnologies Corp.<sup>\*</sup> | 1123258  |
| 22684 | Agilent Technologies Inc.  | 2753384  |
| 5118 | Align Technology Inc.<sup>\*</sup> | 972932  |
| 2980 | Alphatec Holdings Inc.<sup>\*</sup> | 40588  |
| 1353 | AngioDynamics Inc.<sup>\*</sup> | 15478  |
| 826 | Anteris Technologies Global Corp.<sup>\*</sup> | 5377  |
| 1021 | Artivion Inc.<sup>\*</sup> | 39308  |
| 1239 | AtriCure Inc.<sup>\*</sup> | 38731  |
| 1153 | Avanos Medical Inc.<sup>\*</sup> | 16257  |
| 3360 | Avantor Inc.<sup>\*</sup> | 30408  |
| 954 | Avita Medical Inc.<sup>\*(a)</sup> | 4799  |
| 7519 | Axogen Inc.<sup>\*</sup> | 238578  |
| 958 | Azenta Inc.<sup>\*</sup> | 25847  |
| 2635 | Baxter International Inc.  | 53675  |
| 932 | Beta Bionics Inc.<sup>\*</sup> | 11771  |
| 915 | BioLife Solutions Inc.<sup>\*</sup> | 22143  |
| 795 | Bio-Techne Corp.  | 46905  |
| 1140 | Bioventus Inc., Class A Shares<sup>\*</sup> | 10009  |
| 509 | Bruker Corp.  | 20416  |
| 5866 | Butterfly Network Inc., Class A Shares<sup>\*</sup> | 22232  |
| 1305 | CareDx Inc.<sup>\*</sup> | 24482  |
| 659 | Castle Biosciences Inc.<sup>\*</sup> | 19487  |
| 742 | Ceribell Inc.<sup>\*</sup> | 13853  |
| 6901 | Cerus Corp.<sup>\*</sup> | 17666  |
| 818 | ClearPoint Neuro Inc.<sup>\*</sup> | 10282  |
| 815 | CONMED Corp.  | 37490  |
| 1081 | Cooper Cos., Inc.<sup>\*</sup> | 90447  |
| 460 | CVRx Inc.<sup>\*</sup> | 3754  |
| 909 | Delcath Systems Inc.<sup>\*</sup> | 8090  |
| 1188 | DENTSPLY SIRONA Inc.  | 17440  |
| 248 | Electromed Inc.<sup>\*</sup> | 5878  |
| 1468 | Embecta Corp.  | 15062  |
| 1360 | Enovis Corp.<sup>\*</sup> | 34639  |

---

See Notes to Financial Statements.

38<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  |
| **Healthcare-Products – (continued)**  | **Healthcare-Products – (continued)**  | **Healthcare-Products – (continued)**  |
| 35197 | Envista Holdings Corp.<sup>\*</sup> | $1028104  |
| 1020 | Exact Sciences Corp.<sup>\*</sup> | 105448  |
| 2483 | GE HealthCare Technologies Inc.  | 209242  |
| 8488 | Glaukos Corp.<sup>\*</sup> | 1021955  |
| 29559 | Globus Medical Inc., Class A Shares<sup>\*</sup> | 2821702  |
| 829 | GRAIL Inc.<sup>\*</sup> | 44128  |
| 30188 | Guardant Health Inc.<sup>\*</sup> | 2834653  |
| 1136 | Haemonetics Corp.<sup>\*</sup> | 71931  |
| 1225 | Hologic Inc.<sup>\*</sup> | 92316  |
| 582 | ICU Medical Inc.<sup>\*</sup> | 87638  |
| 445 | IDEXX Laboratories Inc.<sup>\*</sup> | 292245  |
| 483 | Inogen Inc.<sup>\*</sup> | 2946  |
| 174 | Inspire Medical Systems Inc.<sup>\*</sup> | 11225  |
| 375 | Insulet Corp.<sup>\*</sup> | 92479  |
| 833 | Integer Holdings Corp.<sup>\*</sup> | 72204  |
| 42710 | Integra LifeSciences Holdings Corp.<sup>\*</sup> | 486040  |
| 187 | iRadimed Corp.  | 19360  |
| 752 | IRhythm Holdings Inc.<sup>\*</sup> | 100580  |
| 13106 | Kestra Medical Technologies Ltd.<sup>\*</sup> | 305108  |
| 1398 | KORU Medical Systems Inc.<sup>\*</sup> | 6668  |
| 1635 | Lantheus Holdings Inc.<sup>\*</sup> | 122478  |
| 533 | LeMaitre Vascular Inc.  | 57660  |
| 329 | LENSAR Inc.<sup>\*</sup> | 3938  |
| 1306 | LivaNova PLC<sup>\*</sup> | 92204  |
| 255 | Masimo Corp.<sup>\*</sup> | 44714  |
| 3354 | MaxCyte Inc.<sup>\*</sup> | 2721  |
| 1379 | Merit Medical Systems Inc.<sup>\*</sup> | 106431  |
| 3002 | MiMedx Group Inc.<sup>\*</sup> | 14680  |
| 11190 | Natera Inc.<sup>\*</sup> | 2327968  |
| 5809 | Neogen Corp.<sup>\*</sup> | 65235  |
| 32176 | NeuroPace Inc.<sup>\*</sup> | 469126  |
| 2414 | Novocure Ltd.<sup>\*</sup> | 32999  |
| 3430 | OmniAb Inc.<sup>\*</sup> | 5900  |
| 1206 | Omnicell Inc.<sup>\*</sup> | 49567  |
| 2423 | OraSure Technologies Inc.<sup>\*</sup> | 7632  |
| 826 | Orthofix Medical Inc.<sup>\*</sup> | 11176  |
| 380 | OrthoPediatrics Corp.<sup>\*</sup> | 7285  |
| 547 | Outset Medical Inc.<sup>\*</sup>  | 1909  |
| 8898 | Pacific Biosciences of California Inc.<sup>\*</sup> | 14949  |
| 209 | Penumbra Inc.<sup>\*</sup> | 71977  |
| 1262 | PROCEPT BioRobotics Corp.<sup>\*</sup> | 28635  |
| 842 | Pulmonx Corp.<sup>\*</sup> | 1330  |

---

See Notes to Financial Statements.

39<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  |
| **Healthcare-Products – (continued)**  | **Healthcare-Products – (continued)**  | **Healthcare-Products – (continued)**  |
| 411 | Pulse Biosciences Inc.<sup>\*(a)</sup> | $7698  |
| 1032 | QIAGEN NV | 51394  |
| 1247 | Quanterix Corp.<sup>\*</sup> | 8168  |
| 3978 | Quantum-Si Inc.<sup>\*</sup> | 3805  |
| 23081 | QuidelOrtho Corp.<sup>\*</sup> | 524862  |
| 265 | Repligen Corp.<sup>\*</sup> | 34113  |
| 792 | ResMed Inc.  | 202958  |
| 615 | Revvity Inc.  | 60461  |
| 944 | RxSight Inc.<sup>\*</sup> | 7061  |
| 91 | Sanara Medtech Inc.<sup>\*</sup> | 1860  |
| 230 | SANUWAVE Health Inc.<sup>\*</sup> | 5595  |
| 1008 | SI-BONE Inc.<sup>\*</sup> | 15644  |
| 779 | Solventum Corp.<sup>\*</sup> | 57802  |
| 1291 | STAAR Surgical Co.<sup>\*</sup> | 25691  |
| 2874 | Stereotaxis Inc.<sup>\*</sup> | 6208  |
| 526 | STERIS PLC | 132736  |
| 21558 | Tactile Systems Technology Inc.<sup>\*</sup> | 631434  |
| 46934 | Tandem Diabetes Care Inc.<sup>\*</sup> | 1187430  |
| 223 | Teleflex Inc.  | 27219  |
| 495 | Tempus AI Inc., Class A Shares<sup>\*(a)</sup> | 26359  |
| 13090 | TransMedics Group Inc.<sup>\*</sup> | 1901453  |
| 1652 | Treace Medical Concepts Inc.<sup>\*</sup> | 3073  |
| 1412 | Twist Bioscience Corp.<sup>\*</sup> | 66251  |
| 191 | UFP Technologies Inc.<sup>\*</sup> | 40221  |
| 120 | Utah Medical Products Inc.  | 7993  |
| 912 | Varex Imaging Corp.<sup>\*</sup> | 12011  |
| 549 | Waters Corp.<sup>\*</sup> | 175340  |
| 386 | West Pharmaceutical Services Inc.  | 98175  |
| 1051 | Zimmer Biomet Holdings Inc.  | 103460  |
|  | Total Healthcare-Products | 24521724  |
| **Healthcare-Services – 1.2%**  | **Healthcare-Services – 1.2%**  | **Healthcare-Services – 1.2%**  |
| 529 | Acadia Healthcare Co., Inc.<sup>\*</sup> | 12400  |
| 14025 | Addus HomeCare Corp.<sup>\*</sup> | 1452008  |
| 8464 | agilon health Inc.<sup>\*</sup> | 4988  |
| 749 | Ardent Health Inc.<sup>\*</sup> | 7033  |
| 1140 | Astrana Health Inc.<sup>\*</sup> | 23176  |
| 1149 | Aveanna Healthcare Holdings Inc.<sup>\*</sup> | 8457  |
| 778 | Biote Corp., Class A Shares<sup>\*</sup> | 1649  |
| 2612 | BrightSpring Health Services Inc.<sup>\*</sup> | 108215  |
| 5430 | Brookdale Senior Living Inc.<sup>\*</sup> | 83079  |
| 2732 | Centene Corp.<sup>\*</sup> | 122612  |
| 247 | Charles River Laboratories International Inc.<sup>\*</sup> | 44087  |

---

See Notes to Financial Statements.

40<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  |
| **Healthcare-Services – (continued)**  | **Healthcare-Services – (continued)**  | **Healthcare-Services – (continued)**  |
| 72 | Chemed Corp.  | $29521  |
| 9414 | Clover Health Investments Corp., Class A Shares<sup>\*</sup> | 19675  |
| 3046 | Community Health Systems Inc.<sup>\*</sup> | 10539  |
| 2797 | Concentra Group Holdings Parent Inc.  | 67016  |
| 700 | CorVel Corp.<sup>\*</sup> | 36106  |
| 191 | DaVita Inc.<sup>\*</sup> | 29853  |
| 3054 | DocGo Inc.<sup>\*</sup> | 2193  |
| 24925 | Encompass Health Corp.  | 2688909  |
| 1193 | Enhabit Inc.<sup>\*</sup> | 16237  |
| 1324 | Ensign Group Inc.  | 283561  |
| 2221 | Fortrea Holdings Inc.<sup>\*</sup> | 23809  |
| 458 | Fulgent Genetics Inc.<sup>\*</sup> | 7021  |
| 445 | GeneDx Holdings Corp., Class A Shares<sup>\*</sup> | 35471  |
| 1193 | Ginkgo Bioworks Holdings Inc.<sup>\*</sup> | 8053  |
| 2012 | HealthEquity Inc.<sup>\*</sup> | 153898  |
| 655 | Humana Inc.  | 124804  |
| 485 | Innovage Holding Corp.<sup>\*</sup> | 4346  |
| 939 | IQVIA Holdings Inc.<sup>\*</sup> | 167903  |
| 339 | Joint Corp.<sup>\*</sup> | 2983  |
| 448 | Labcorp Holdings Inc.  | 129526  |
| 3564 | LifeStance Health Group Inc.<sup>\*</sup> | 25803  |
| 115 | Medpace Holdings Inc.<sup>\*</sup> | 51952  |
| 276 | Molina Healthcare Inc.<sup>\*</sup> | 42518  |
| 1585 | Nano-X Imaging Ltd.<sup>\*(a)</sup> | 3756  |
| 326 | National HealthCare Corp.  | 53301  |
| 1266 | Neuronetics Inc.<sup>\*</sup> | 1696  |
| 1959 | Oncology Institute Inc.<sup>\*</sup> | 5661  |
| 7757 | OPKO Health Inc.<sup>\*</sup> | 9308  |
| 58343 | Option Care Health Inc.<sup>\*</sup> | 1893814  |
| 4731 | Oscar Health Inc., Class A Shares<sup>\*</sup> | 64531  |
| 1036 | PACS Group Inc.<sup>\*</sup> | 37824  |
| 1999 | Pediatrix Medical Group Inc.<sup>\*</sup> | 39680  |
| 884 | Pennant Group Inc.<sup>\*</sup> | 29800  |
| 1577 | Personalis Inc.<sup>\*</sup> | 14288  |
| 2757 | Privia Health Group Inc.<sup>\*</sup> | 65479  |
| 610 | Quest Diagnostics Inc.  | 129265  |
| 1610 | RadNet Inc.<sup>\*</sup> | 112394  |
| 2887 | Select Medical Holdings Corp.  | 43218  |
| 180 | Sonida Senior Living Inc.<sup>\*</sup> | 6460  |
| 1103 | Sotera Health Co.<sup>\*</sup> | 17924  |
| 1045 | Strata Critical Medical Inc.<sup>\*</sup> | 4473  |
| 2030 | Surgery Partners Inc.<sup>\*</sup> | 31465  |

---

See Notes to Financial Statements.

41<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  |
| **Healthcare-Services – (continued)**  | **Healthcare-Services – (continued)**  | **Healthcare-Services – (continued)**  |
| 4451 | Teladoc Health Inc.<sup>\*</sup> | $23412  |
| 471 | Tenet Healthcare Corp.<sup>\*</sup> | 112753  |
| 281 | Universal Health Services Inc., Class B Shares | 57914  |
| 387 | US Physical Therapy Inc.  | 32106  |
| 1334 | Viemed Healthcare Inc.<sup>\*</sup> | 11606  |
|  | Total Healthcare-Services | 8631529  |
| **Household Products/Wares – 0.1%**  | **Household Products/Wares – 0.1%**  | **Household Products/Wares – 0.1%**  |
| 3111 | ACCO Brands Corp.  | 12662  |
| 111 | Acme United Corp.  | 4996  |
| 399 | Avery Dennison Corp.  | 78344  |
| 1321 | Church & Dwight Co., Inc.  | 138520  |
| 633 | Clorox Co.  | 80492  |
| 595 | Helen of Troy Ltd.<sup>\*</sup> | 10496  |
| 1150 | Quanex Building Products Corp.  | 23610  |
| 274 | Reynolds Consumer Products Inc.  | 6798  |
| 603 | Spectrum Brands Holdings Inc.  | 47263  |
| 327 | WD-40 Co.  | 77891  |
|  | Total Household Products/Wares | 481072  |
| **Pharmaceuticals – 1.8%**  | **Pharmaceuticals – 1.8%**  | **Pharmaceuticals – 1.8%**  |
| 1930 | Accendra Health Inc.<sup>\*</sup> | 4671  |
| 3121 | Aclaris Therapeutics Inc.<sup>\*</sup> | 8957  |
| 2618 | AdaptHealth Corp., Class A Shares<sup>\*</sup> | 23955  |
| 1498 | Agios Pharmaceuticals Inc.<sup>\*</sup> | 45285  |
| 6520 | Akebia Therapeutics Inc.<sup>\*</sup> | 8541  |
| 3924 | Alkermes PLC<sup>\*</sup> | 118112  |
| 3546 | Amneal Pharmaceuticals Inc.<sup>\*</sup> | 48970  |
| 1014 | Amphastar Pharmaceuticals Inc.<sup>\*</sup> | 20513  |
| 43820 | Amylyx Pharmaceuticals Inc.<sup>\*</sup> | 664749  |
| 266 | Anika Therapeutics Inc.<sup>\*</sup> | 3820  |
| 2165 | Aquestive Therapeutics Inc.<sup>\*</sup> | 8660  |
| 1686 | Arvinas Inc.<sup>\*</sup> | 22373  |
| 9029 | Ascendis Pharma AS, ADR<sup>\*</sup> | 2108271  |
| 272 | Atrium Therapeutics Inc.<sup>\*(b)</sup> | 4012  |
| 2610 | aTyr Pharma Inc.<sup>\*</sup> | 2505  |
| 641 | BellRing Brands Inc.<sup>\*</sup> | 11788  |
| 1217 | Candel Therapeutics Inc.<sup>\*</sup> | 6389  |
| 11426 | Cardinal Health Inc.  | 2619182  |
| 2771 | Catalyst Pharmaceuticals Inc.<sup>\*</sup> | 63955  |
| 1018 | Cencora Inc.  | 378839  |
| 1851 | Coherus Oncology Inc.<sup>\*</sup> | 3091  |
| 840 | Collegium Pharmaceutical Inc.<sup>\*</sup> | 35003  |
| 473 | Corcept Therapeutics Inc.<sup>\*</sup> | 16886  |

---

See Notes to Financial Statements.

42<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  |
| **Pharmaceuticals – (continued)**  | **Pharmaceuticals – (continued)**  | **Pharmaceuticals – (continued)**  |
| 1791 | CorMedix Inc.<sup>\*</sup> | $12770  |
| 1741 | Corvus Pharmaceuticals Inc.<sup>\*</sup> | 31791  |
| 2179 | DexCom Inc.<sup>\*</sup> | 160004  |
| 22722 | Elanco Animal Health Inc.<sup>\*</sup> | 599861  |
| 796 | Enanta Pharmaceuticals Inc.<sup>\*</sup> | 11383  |
| 865 | Enliven Therapeutics Inc.<sup>\*</sup> | 25682  |
| 792 | Eton Pharmaceuticals Inc.<sup>\*</sup> | 13456  |
| 411 | Fennec Pharmaceuticals Inc.<sup>\*(b)</sup> | 3489  |
| 484 | Foghorn Therapeutics Inc.<sup>\*</sup> | 2749  |
| 1233 | Fulcrum Therapeutics Inc.<sup>\*</sup> | 10333  |
| 14339 | Guardian Pharmacy Services Inc., Class A Shares<sup>\*</sup> | 480500  |
| 370 | Gyre Therapeutics Inc.<sup>\*</sup> | 3049  |
| 1030 | Harmony Biosciences Holdings Inc.<sup>\*</sup> | 29396  |
| 795 | Harrow Inc.<sup>\*</sup> | 43073  |
| 555 | Henry Schein Inc.<sup>\*</sup> | 45726  |
| 2517 | Herbalife Ltd.<sup>\*</sup> | 49132  |
| 4679 | Heron Therapeutics Inc.<sup>\*</sup> | 5568  |
| 27433 | Indivior Pharmaceuticals Inc.<sup>\*</sup> | 897608  |
| 2165 | Inhibikase Therapeutics Inc.<sup>\*</sup> | 4438  |
| 4866 | Ironwood Pharmaceuticals Inc., Class A Shares<sup>\*</sup> | 16642  |
| 298 | Jazz Pharmaceuticals PLC<sup>\*</sup> | 56626  |
| 298 | Journey Medical Corp.<sup>\*</sup> | 2435  |
| 1162 | KalVista Pharmaceuticals Inc.<sup>\*</sup> | 18917  |
| 353 | Lifevantage Corp.<sup>(a)</sup> | 1641  |
| 438 | Madrigal Pharmaceuticals Inc.<sup>\*</sup> | 189216  |
| 7361 | MannKind Corp.<sup>\*</sup> | 24144  |
| 397 | MediWound Ltd.<sup>\*</sup> | 6868  |
| 981 | Mirum Pharmaceuticals Inc.<sup>\*</sup> | 90536  |
| 241 | Nature's Sunshine Products Inc.<sup>\*</sup> | 6671  |
| 525 | Neurocrine Biosciences Inc.<sup>\*</sup> | 69431  |
| 316 | Neurogene Inc.<sup>\*</sup> | 7423  |
| 316 | Nuvectis Pharma Inc.<sup>\*</sup> | 2800  |
| 4235 | Ocular Therapeutix Inc.<sup>\*</sup> | 37861  |
| 1515 | Organon & Co. | 11044  |
| 1414 | ORIC Pharmaceuticals Inc.<sup>\*</sup> | 19018  |
| 1155 | Pacira BioSciences Inc.<sup>\*</sup> | 25306  |
| 476 | Phibro Animal Health Corp., Class A Shares | 25985  |
| 6537 | Protagonist Therapeutics Inc.<sup>\*</sup> | 601927  |
| 13995 | Rhythm Pharmaceuticals Inc.<sup>\*</sup> | 1297756  |
| 3306 | SELLAS Life Sciences Group Inc.<sup>\*(a)</sup> | 16299  |
| 810 | SIGA Technologies Inc.  | 5241  |
| 25687 | Spyre Therapeutics Inc.<sup>\*</sup>  | 1104798  |

---

See Notes to Financial Statements.

43<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  |
| **Pharmaceuticals – (continued)**  | **Pharmaceuticals – (continued)**  | **Pharmaceuticals – (continued)**  |
| 1280 | Supernus Pharmaceuticals Inc.<sup>\*</sup> | $70054  |
| 244 | Tonix Pharmaceuticals Holding Corp.<sup>\*</sup> | 3409  |
| 2045 | Trevi Therapeutics Inc.<sup>\*</sup> | 24376  |
| 256 | USANA Health Sciences Inc.<sup>\*</sup> | 5509  |
| 1092 | Vanda Pharmaceuticals Inc.<sup>\*</sup> | 9730  |
| 2949 | Vaxcyte Inc.<sup>\*</sup> | 182071  |
| 6057 | Viatris Inc.  | 90431  |
| 1516 | Voyager Therapeutics Inc.<sup>\*</sup> | 6216  |
| 75822 | Xeris Biopharma Holdings Inc.<sup>\*</sup> | 464031  |
|  | Total Pharmaceuticals | 13152947  |
|  | **TOTAL CONSUMER NON-CYCLICAL** | **139485126**  |
| **ENERGY – 5.0%**  | **ENERGY – 5.0%**  | **ENERGY – 5.0%**  |
| **Coal – 0.1%**  | **Coal – 0.1%**  | **Coal – 0.1%**  |
| 291 | Alpha Metallurgical Resources Inc.<sup>\*</sup> | 47331  |
| 67879 | American Resources Corp., Class A Shares<sup>\*</sup> | 203637  |
| 1201 | Core Natural Resources Inc.  | 98578  |
| 749 | Hallador Energy Co.<sup>\*</sup> | 13617  |
| 74 | NACCO Industries Inc., Class A Shares | 4246  |
| 2898 | Peabody Energy Corp.  | 91403  |
| 856 | Ramaco Resources Inc., Class A Shares<sup>\*</sup> | 12960  |
| 2130 | SunCoke Energy Inc.  | 12141  |
| 1247 | Warrior Met Coal Inc.  | 103800  |
|  | Total Coal | 587713  |
| **Energy-Alternate Sources – 0.6%**  | **Energy-Alternate Sources – 0.6%**  | **Energy-Alternate Sources – 0.6%**  |
| 3917 | Array Technologies Inc.<sup>\*</sup> | 29691  |
| 1865 | ASP Isotopes Inc.<sup>\*</sup> | 9959  |
| 634 | Enphase Energy Inc.<sup>\*</sup> | 26799  |
| 307247 | Eos Energy Enterprises Inc.<sup>\*(a)</sup> | 1749772  |
| 544 | First Solar Inc.<sup>\*</sup> | 107277  |
| 1504 | Fluence Energy Inc., Class A Shares<sup>\*</sup> | 23372  |
| 480 | FutureFuel Corp.  | 2074  |
| 7315 | Gevo Inc.<sup>\*(a)</sup> | 13313  |
| 2042 | Green Plains Inc.<sup>\*</sup> | 28037  |
| 1406 | Montauk Renewables Inc.<sup>\*</sup> | 2165  |
| 20254 | Nextpower Inc., Class A Shares<sup>\*</sup> | 2128695  |
| 26555 | Plug Power Inc.<sup>\*</sup> | 47534  |
| 770 | REX American Resources Corp.<sup>\*</sup> | 27381  |
| 4381 | Shoals Technologies Group Inc., Class A Shares<sup>\*</sup> | 25979  |
| 2107 | SunPower Inc.<sup>\*</sup> | 2739  |
| 5275 | Sunrun Inc.<sup>\*</sup> | 69894  |
| 26239 | T1 Energy Inc.<sup>\*</sup> | 161632  |
|  | Total Energy-Alternate Sources | 4456313  |

---

See Notes to Financial Statements.

44<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **ENERGY – (continued)**  | **ENERGY – (continued)**  | **ENERGY – (continued)**  |
| **Oil & Gas – 2.4%**  | **Oil & Gas – 2.4%**  | **Oil & Gas – 2.4%**  |
| 1480 | Antero Resources Corp.<sup>\*</sup> | $54479  |
| 1786 | APA Corp.  | 54241  |
| 389 | BKV Corp.<sup>\*</sup> | 12187  |
| 6078 | Borr Drilling Ltd.<sup>\*</sup> | 37258  |
| 59800 | BP PLC, ADR | 2323828  |
| 1731 | California Resources Corp.  | 101852  |
| 296 | Chord Energy Corp.  | 32078  |
| 3076 | CNX Resources Corp.<sup>\*</sup> | 128515  |
| 1762 | Comstock Resources Inc.<sup>\*</sup> | 34553  |
| 4134 | Coterra Energy Inc.  | 126459  |
| 5800 | Crescent Energy Co., Class A Shares | 67628  |
| 833 | CVR Energy Inc.  | 20125  |
| 1452 | Delek US Holdings Inc.  | 55336  |
| 3337 | Devon Energy Corp.  | 145260  |
| 1034 | Diamondback Energy Inc.  | 179999  |
| 1574 | Diversified Energy Co.  | 21658  |
| 322 | Empire Petroleum Corp.<sup>\*</sup> | 1063  |
| 644 | Epsilon Energy Ltd.  | 3297  |
| 53565 | EQT Corp.  | 3289962  |
| 568 | Evolution Petroleum Corp.  | 2539  |
| 1264 | Expand Energy Corp.  | 136411  |
| 1159 | Granite Ridge Resources Inc.  | 5865  |
| 396 | Gulfport Energy Corp.<sup>\*</sup> | 82629  |
| 2279 | Helmerich & Payne Inc.  | 80266  |
| 804 | HF Sinclair Corp.  | 40208  |
| 638 | HighPeak Energy Inc.<sup>(a)</sup> | 3324  |
| 349 | Infinity Natural Resources Inc., Class A Shares<sup>\*</sup> | 5793  |
| 1147 | Kolibri Global Energy Inc.<sup>\*(b)</sup> | 4382  |
| 12290 | Kosmos Energy Ltd.<sup>\*</sup>  | 28636  |
| 4268 | Magnolia Oil & Gas Corp., Class A Shares | 118736  |
| 1667 | Marathon Petroleum Corp.  | 330416  |
| 584 | Matador Resources Co.  | 30018  |
| 3254 | Murphy Oil Corp.  | 107870  |
| 431 | Nabors Industries Ltd.<sup>\*</sup> | 33670  |
| 3044 | Noble Corp. PLC | 138289  |
| 2217 | Northern Oil & Gas Inc.  | 61167  |
| 3940 | Occidental Petroleum Corp.  | 209135  |
| 1607 | Ovintiv Inc.  | 81298  |
| 1232 | Par Pacific Holdings Inc.<sup>\*</sup> | 52569  |
| 8434 | Patterson-UTI Energy Inc.  | 71773  |
| 1994 | PBF Energy Inc., Class A Shares | 70986  |
| 164907 | Permian Resources Corp., Class A Shares | 3016149  |

---

See Notes to Financial Statements.

45<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **ENERGY – (continued)**  | **ENERGY – (continued)**  | **ENERGY – (continued)**  |
| **Oil & Gas – (continued)**  | **Oil & Gas – (continued)**  | **Oil & Gas – (continued)**  |
| 2247 | Phillips 66 | $346780  |
| 11 | PrimeEnergy Resources Corp.<sup>\*</sup> | 2188  |
| 1201 | Range Resources Corp.  | 49577  |
| 258 | Riley Exploration Permian Inc.  | 7441  |
| 1614 | Sable Offshore Corp.<sup>\*</sup> | 13316  |
| 733 | SandRidge Energy Inc.  | 12850  |
| 1490 | Seadrill Ltd.<sup>\*</sup> | 65381  |
| 57052 | SM Energy Co.  | 1319613  |
| 2797 | Talos Energy Inc.<sup>\*</sup> | 34263  |
| 318 | Texas Pacific Land Corp.  | 166724  |
| 22019 | Transocean Ltd.<sup>\*</sup> | 142683  |
| 3503 | VAALCO Energy Inc.  | 18040  |
| 1530 | Valaris Ltd.<sup>\*</sup> | 146651  |
| 12782 | Valero Energy Corp.  | 2615708  |
| 1030 | Viper Energy Inc., Class A Shares | 47936  |
| 780 | Vitesse Energy Inc.  | 15062  |
| 4198 | W&T Offshore Inc.  | 11125  |
| 18205 | Weatherford International PLC | 1919899  |
|  | Total Oil & Gas | 18337144  |
| **Oil & Gas Services – 1.7%**  | **Oil & Gas Services – 1.7%**  | **Oil & Gas Services – 1.7%**  |
| 3995 | Archrock Inc.  | 141143  |
| 2114 | Atlas Energy Solutions Inc., Class A Shares | 20358  |
| 5531 | Baker Hughes Co., Class A Shares | 360953  |
| 809 | Bristow Group Inc.<sup>\*</sup> | 38589  |
| 1196 | Core Laboratories Inc.  | 21038  |
| 756 | DMC Global Inc.<sup>\*</sup> | 4453  |
| 4490 | DNOW Inc.<sup>\*</sup> | 52892  |
| 119289 | Expro Group Holdings NV<sup>\*</sup> | 2130501  |
| 27926 | Flotek Industries Inc.<sup>\*</sup> | 428664  |
| 539 | Flowco Holdings Inc., Class A Shares | 12160  |
| 241 | Forum Energy Technologies Inc.<sup>\*</sup> | 13985  |
| 4622 | Halliburton Co.  | 166392  |
| 3748 | Helix Energy Solutions Group Inc.<sup>\*</sup> | 34444  |
| 19008 | Innovex International Inc.<sup>\*</sup> | 500861  |
| 2093 | Kodiak Gas Services Inc.  | 114215  |
| 28411 | Liberty Energy Inc., Class A Shares | 798065  |
| 1322 | Mammoth Energy Services Inc.<sup>\*</sup> | 3054  |
| 590 | Matrix Service Co.<sup>\*</sup> | 6484  |
| 25078 | National Energy Services Reunited Corp.<sup>\*</sup> | 628204  |
| 230 | Natural Gas Services Group Inc.  | 8800  |
| 1854 | NOV Inc.  | 37562  |
| 2240 | Oceaneering International Inc.<sup>\*</sup> | 79520  |

---

See Notes to Financial Statements.

46<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **ENERGY – (continued)**  | **ENERGY – (continued)**  | **ENERGY – (continued)**  |
| **Oil & Gas Services – (continued)**  | **Oil & Gas Services – (continued)**  | **Oil & Gas Services – (continued)**  |
| 15984 | Oil States International Inc.<sup>\*</sup> | $209231  |
| 471 | ProFrac Holding Corp., Class A Shares<sup>\*</sup> | 2331  |
| 2138 | ProPetro Holding Corp.<sup>\*</sup> | 25934  |
| 530 | Ranger Energy Services Inc., Class A Shares | 9233  |
| 2004 | RPC Inc.  | 11643  |
| 939 | SEACOR Marine Holdings Inc.<sup>\*</sup> | 7193  |
| 2336 | Select Water Solutions Inc., Class A Shares | 31933  |
| 18845 | Solaris Energy Infrastructure Inc., Class A Shares | 935277  |
| 63715 | TechnipFMC PLC | 4224942  |
| 104730 | TETRA Technologies Inc.<sup>\*</sup> | 906962  |
| 7773 | Tidewater Inc.<sup>\*</sup> | 617332  |
|  | Total Oil & Gas Services | 12584348  |
| **Pipelines – 0.2%**  | **Pipelines – 0.2%**  | **Pipelines – 0.2%**  |
| 1677 | Antero Midstream Corp.  | 37699  |
| 1190 | Cheniere Energy Inc.  | 280519  |
| 518 | DT Midstream Inc.  | 71919  |
| 668 | Excelerate Energy Inc., Class A Shares | 26887  |
| 2413 | Golar LNG Ltd.  | 107282  |
| 10809 | Kinder Morgan Inc.  | 359615  |
| 1055 | Kinetik Holdings Inc., Class A Shares<sup>(a)</sup> | 47992  |
| 5155 | New Fortress Energy Inc., Class A Shares<sup>\*(a)</sup> | 5619  |
| 3125 | NextDecade Corp.<sup>\*</sup> | 16844  |
| 3473 | ONEOK Inc.  | 287460  |
| 322 | Summit Midstream Corp.<sup>\*</sup> | 9502  |
| 1165 | Targa Resources Corp.  | 274707  |
|  | Total Pipelines | 1526045  |
|  | **TOTAL ENERGY** | **37491563**  |
| **FINANCIAL – 14.9%**  | **FINANCIAL – 14.9%**  | **FINANCIAL – 14.9%**  |
| **Banks – 6.0%**  | **Banks – 6.0%**  | **Banks – 6.0%**  |
| 473 | 1st Source Corp.  | 31696  |
| 281 | ACNB Corp.  | 14162  |
| 687 | Alerus Financial Corp.  | 16378  |
| 676 | Amalgamated Financial Corp.  | 26019  |
| 948 | Amerant Bancorp Inc., Class A Shares | 20240  |
| 1560 | Ameris Bancorp | 121150  |
| 151 | Ames National Corp.  | 4078  |
| 385 | Arrow Financial Corp.  | 12824  |
| 87172 | Associated Banc-Corp.  | 2302213  |
| 3362 | Atlantic Union Bankshares Corp.  | 124596  |
| 501 | BancFirst Corp.  | 55110  |
| 998 | Bancorp Inc.<sup>\*</sup> | 52385  |
| 250 | Bank First Corp.  | 33667  |

---

See Notes to Financial Statements.

47<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  |
| **Banks – (continued)**  | **Banks – (continued)**  | **Banks – (continued)**  |
| 945 | Bank of Hawaii Corp.  | $71603  |
| 360 | Bank of Marin Bancorp | 8960  |
| 3890 | Bank of New York Mellon Corp.  | 463299  |
| 1037 | Bank of NT Butterfield & Son Ltd.  | 52628  |
| 625 | Bank OZK | 29100  |
| 101 | Bank7 Corp.  | 4109  |
| 18854 | BankUnited Inc.  | 880482  |
| 135 | Bankwell Financial Group Inc.  | 6304  |
| 815 | Banner Corp.  | 47963  |
| 351 | Bar Harbor Bankshares | 11323  |
| 358 | BayCom Corp.  | 10525  |
| 279 | BCB Bancorp Inc.  | 2232  |
| 433 | Blue Foundry Bancorp<sup>\*</sup> | 5707  |
| 2146 | Blue Ridge Bankshares Inc.  | 8713  |
| 125 | BOK Financial Corp.  | 15715  |
| 715 | Bridgewater Bancshares Inc.<sup>\*</sup> | 13070  |
| 344 | Burke & Herbert Financial Services Corp.  | 22167  |
| 824 | Business First Bancshares Inc.  | 22495  |
| 790 | Byline Bancorp Inc.  | 24648  |
| 105 | C&F Financial Corp.  | 7646  |
| 472 | California BanCorp  | 8642  |
| 492 | Camden National Corp.  | 22711  |
| 285 | Capital Bancorp Inc.  | 8382  |
| 324 | Capital City Bank Group Inc.  | 13882  |
| 540 | Carter Bankshares Inc.<sup>\*</sup> | 11254  |
| 1621 | Cathay General Bancorp  | 80580  |
| 158 | CB Financial Services Inc.  | 5500  |
| 669 | Central Pacific Financial Corp.  | 21308  |
| 62 | Chemung Financial Corp.  | 3442  |
| 298 | ChoiceOne Financial Services Inc.  | 8529  |
| 325 | Citizens & Northern Corp.  | 7299  |
| 35334 | Citizens Financial Group Inc.  | 2126753  |
| 161 | Citizens Financial Services Inc.  | 9670  |
| 8622 | City Holding Co.  | 1034381  |
| 319 | Civista Bancshares Inc.  | 7595  |
| 618 | CNB Financial Corp.  | 17310  |
| 303 | Coastal Financial Corp.<sup>\*</sup> | 22480  |
| 353 | Colony Bankcorp Inc.  | 7000  |
| 102775 | Columbia Banking System Inc.  | 2923949  |
| 655 | Commerce Bancshares Inc.  | 33398  |
| 1274 | Community Financial System Inc.  | 77141  |
| 388 | Community Trust Bancorp Inc.  | 23296  |

---

See Notes to Financial Statements.

48<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  |
| **Banks – (continued)**  | **Banks – (continued)**  | **Banks – (continued)**  |
| 533 | Community West Bancshares | $12382  |
| 1315 | ConnectOne Bancorp Inc.  | 34887  |
| 301 | Cullen/Frost Bankers Inc.  | 41604  |
| 771 | Customers Bancorp Inc.<sup>\*</sup> | 51996  |
| 3173 | CVB Financial Corp.  | 61017  |
| 930 | Dime Community Bancshares Inc.  | 30085  |
| 745 | Eagle Bancorp Inc.  | 18960  |
| 152 | Eagle Financial Services Inc.  | 5276  |
| 741 | East West Bancorp Inc.  | 81102  |
| 5378 | Eastern Bankshares Inc.  | 105194  |
| 269 | ECB Bancorp Inc.<sup>\*</sup> | 4624  |
| 875 | Enterprise Financial Services Corp.  | 49962  |
| 343 | Equity Bancshares Inc., Class A Shares | 15394  |
| 169 | Esquire Financial Holdings Inc.  | 17066  |
| 280 | Farmers & Merchants Bancorp Inc.  | 7241  |
| 862 | Farmers National Banc Corp.  | 11146  |
| 603 | FB Bancorp Inc.<sup>\*</sup> | 7941  |
| 42345 | FB Financial Corp.  | 2315848  |
| 90 | Fidelity D&D Bancorp Inc.  | 3946  |
| 5053 | Fifth Third Bancorp | 249972  |
| 578 | Financial Institutions Inc.  | 18138  |
| 304 | Finwise Bancorp<sup>\*</sup> | 5119  |
| 3896 | First BanCorp (Puerto Rico) | 82322  |
| 1050 | First Bancorp (Southern Pines NC) | 59629  |
| 227 | First Bancorp Inc.  | 6277  |
| 461 | First Bank | 7339  |
| 2042 | First Busey Corp.  | 51785  |
| 181 | First Business Financial Services Inc.  | 9892  |
| 51 | First Citizens BancShares Inc., Class A Shares | 96806  |
| 2652 | First Commonwealth Financial Corp.  | 46490  |
| 424 | First Community Bankshares Inc.  | 16591  |
| 257 | First Community Corp.  | 7407  |
| 2465 | First Financial Bancorp | 69193  |
| 3172 | First Financial Bankshares Inc.  | 98110  |
| 274 | First Financial Corp.  | 17361  |
| 1977 | First Foundation Inc.<sup>\*</sup> | 11605  |
| 730 | First Hawaiian Inc.  | 18075  |
| 44482 | First Horizon Corp.  | 1058227  |
| 168 | First Internet Bancorp | 3407  |
| 74662 | First Interstate BancSystem Inc., Class A Shares | 2584052  |
| 1479 | First Merchants Corp.  | 57799  |
| 582 | First Mid Bancshares Inc.  | 23868  |

---

See Notes to Financial Statements.

49<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  |
| **Banks – (continued)**  | **Banks – (continued)**  | **Banks – (continued)**  |
| 253 | First National Corp.  | $6717  |
| 209 | First United Corp.  | 7413  |
| 380 | Firstsun Capital Bancorp<sup>\*</sup> | 13859  |
| 404 | Five Star Bancorp | 15728  |
| 7318 | Flagstar Bank N.A. | 92865  |
| 2101 | FNB Corp.  | 35696  |
| 138 | Franklin Financial Services Corp.  | 7104  |
| 4398 | Fulton Financial Corp.  | 89939  |
| 295 | FVCBankcorp Inc.  | 4555  |
| 282 | GBank Financial Holdings Inc.<sup>\*</sup> | 8519  |
| 855 | German American Bancorp Inc.  | 35346  |
| 3144 | Glacier Bancorp Inc.  | 143021  |
| 204 | Great Southern Bancorp Inc.  | 12552  |
| 1998 | Hancock Whitney Corp.  | 131488  |
| 752 | Hanmi Financial Corp.  | 19635  |
| 172 | Hanover Bancorp Inc.  | 3557  |
| 207 | Hawthorn Bancshares Inc.  | 6829  |
| 282 | HBT Financial Inc.  | 7603  |
| 1439 | Heritage Commerce Corp.  | 17887  |
| 866 | Heritage Financial Corp.  | 22871  |
| 1025 | Hilltop Holdings Inc.  | 38366  |
| 4442 | Home BancShares Inc.  | 121977  |
| 2747 | Hope Bancorp Inc.  | 30931  |
| 1084 | Horizon Bancorp Inc.  | 18255  |
| 155395 | Huntington Bancshares Inc.  | 2610636  |
| 31797 | Independent Bank Corp. (Massachusetts) | 2482392  |
| 496 | Independent Bank Corp. (Michigan) | 17236  |
| 1316 | International Bancshares Corp.  | 88317  |
| 168 | Investar Holding Corp.  | 4743  |
| 444 | John Marshall Bancorp Inc.  | 8525  |
| 1238 | Kearny Financial Corp.  | 9471  |
| 5117 | KeyCorp  | 106127  |
| 652 | Lakeland Financial Corp.  | 37875  |
| 164 | Landmark Bancorp Inc.  | 4549  |
| 242 | LCNB Corp.  | 4112  |
| 358 | LINKBANCORP Inc.  | 3097  |
| 903 | Live Oak Bancshares Inc.  | 32752  |
| 842 | M&T Bank Corp.  | 182697  |
| 235 | MainStreet Bancshares Inc.  | 5217  |
| 1143 | Mechanics Bancorp, Class A Shares | 16299  |
| 394 | Mercantile Bank Corp.  | 20354  |
| 741 | Merchants Bancorp | 31329  |

---

See Notes to Financial Statements.

50<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  |
| **Banks – (continued)**  | **Banks – (continued)**  | **Banks – (continued)**  |
| 315 | Meridian Corp.  | $6124  |
| 440 | Metrocity Bankshares Inc.  | 12364  |
| 259 | Metropolitan Bank Holding Corp.  | 21795  |
| 603 | Mid Penn Bancorp Inc.  | 19398  |
| 144 | Middlefield Banc Corp.  | 4848  |
| 691 | Midland States Bancorp Inc.  | 15292  |
| 408 | MVB Financial Corp.  | 11016  |
| 60602 | National Bank Holdings Corp., Class A Shares | 2423474  |
| 102 | National Bankshares Inc.  | 3830  |
| 1048 | NB Bancorp Inc.  | 22364  |
| 1223 | NBT Bancorp Inc.  | 52247  |
| 919 | NewtekOne Inc.  | 11285  |
| 442 | Nicolet Bankshares Inc.  | 67520  |
| 202 | Northeast Bank | 22398  |
| 264 | Northeast Community Bancorp Inc.  | 6389  |
| 1033 | Northern Trust Corp.  | 147812  |
| 346 | Northpointe Bancshares Inc.  | 6249  |
| 492 | Northrim BanCorp Inc.  | 11557  |
| 272 | Norwood Financial Corp.  | 7904  |
| 124 | Oak Valley Bancorp | 3968  |
| 1080 | OFG Bancorp | 43286  |
| 131 | Ohio Valley Banc Corp.  | 5585  |
| 112556 | Old National Bancorp | 2600044  |
| 1093 | Old Second Bancorp Inc.  | 21456  |
| 380 | OP Bancorp | 5077  |
| 214 | Orange County Bancorp Inc.  | 7107  |
| 749 | Origin Bancorp Inc.  | 31158  |
| 458 | Orrstown Financial Services Inc.  | 16461  |
| 382 | Park National Corp.  | 62850  |
| 193 | Parke Bancorp Inc.  | 5377  |
| 559 | Pathward Financial Inc.  | 50752  |
| 202 | PCB Bancorp | 4517  |
| 408 | Peapack-Gladstone Financial Corp.  | 13664  |
| 890 | Peoples Bancorp Inc.  | 28720  |
| 221 | Peoples Bancorp of North Carolina Inc.  | 8444  |
| 214 | Peoples Financial Services Corp.  | 11470  |
| 830 | Pinnacle Financial Partners Inc.  | 75331  |
| 309 | Pioneer Bancorp Inc.<sup>\*</sup> | 4360  |
| 188 | Plumas Bancorp | 9456  |
| 612 | Ponce Financial Group Inc.<sup>\*</sup> | 9945  |
| 342 | Popular Inc.  | 46293  |
| 319 | Preferred Bank | 27983  |

---

See Notes to Financial Statements.

51<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  |
| **Banks – (continued)**  | **Banks – (continued)**  | **Banks – (continued)**  |
| 719 | Primis Financial Corp.  | $9498  |
| 116 | Princeton Bancorp Inc.  | 3941  |
| 460 | Prosperity Bancshares Inc.  | 32370  |
| 426 | QCR Holdings Inc.  | 36849  |
| 348 | RBB Bancorp | 7482  |
| 168 | Red River Bancshares Inc.  | 14902  |
| 4803 | Regions Financial Corp.  | 133667  |
| 2273 | Renasant Corp.  | 85578  |
| 203 | Republic Bancorp Inc., Class A Shares | 14007  |
| 315 | Richmond Mutual BanCorp Inc.  | 4252  |
| 994 | S&T Bancorp Inc.  | 41559  |
| 213 | SB Financial Group Inc.  | 4422  |
| 2036 | Seacoast Banking Corp. of Florida | 63360  |
| 1247 | ServisFirst Bancshares Inc.  | 101019  |
| 717 | Shore Bancshares Inc.  | 13322  |
| 296 | Sierra Bancorp | 10650  |
| 94415 | Simmons First National Corp., Class A Shares | 1879803  |
| 387 | SmartFinancial Inc.  | 15174  |
| 269 | South Plains Financial Inc.  | 11018  |
| 274 | Southern First Bancshares Inc.<sup>\*</sup> | 15300  |
| 734 | Southside Bancshares Inc.  | 22989  |
| 24911 | Southstate Bank Corp.  | 2457968  |
| 288 | SR Bancorp Inc.  | 4766  |
| 1528 | State Street Corp.  | 196531  |
| 1278 | Stellar Bancorp Inc.  | 48129  |
| 534 | Sterling Bancorp Inc.<sup>\*(b)(c)</sup> | –  |
| 671 | Stock Yards Bancorp Inc.  | 43038  |
| 1098 | Texas Capital Bancshares Inc.<sup>\*</sup> | 104639  |
| 260 | Third Coast Bancshares Inc.<sup>\*</sup> | 10299  |
| 316 | Tompkins Financial Corp.  | 24240  |
| 1862 | Towne Bank | 63792  |
| 833 | TriCo Bancshares | 39801  |
| 582 | Triumph Financial Inc.<sup>\*</sup> | 32511  |
| 459 | TrustCo Bank Corp. NY | 19907  |
| 1356 | Trustmark Corp.  | 57752  |
| 1714 | UMB Financial Corp.  | 198618  |
| 135 | Union Bankshares Inc.  | 3139  |
| 3298 | United Bankshares Inc.  | 136207  |
| 2907 | United Community Banks Inc.  | 93518  |
| 478 | United Security Bancshares | 4966  |
| 157 | Unity Bancorp Inc.  | 8351  |
| 38499 | Univest Financial Corp.  | 1291641  |

---

See Notes to Financial Statements.

52<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  |
| **Banks – (continued)**  | **Banks – (continued)**  | **Banks – (continued)**  |
| 224913 | Valley National Bancorp | $2836153  |
| 106 | Virginia National Bankshares Corp.  | 4104  |
| 857 | Walker & Dunlop Inc.  | 39431  |
| 575 | Washington Trust Bancorp Inc.  | 19372  |
| 852 | Webster Financial Corp.  | 61455  |
| 2278 | WesBanco Inc.  | 79434  |
| 363 | West BanCorp Inc.  | 8839  |
| 16567 | Westamerica BanCorp  | 839119  |
| 548 | Western Alliance Bancorp | 44015  |
| 647 | Western New England Bancorp Inc.  | 8314  |
| 17574 | Wintrust Financial Corp.  | 2531710  |
| 734 | Zions Bancorp N.A. | 42044  |
|  | Total Banks | 44873420  |
| **Diversified Financial Services – 2.2%**  | **Diversified Financial Services – 2.2%**  | **Diversified Financial Services – 2.2%**  |
| 694 | Acadian Asset Management Inc.  | 37379  |
| 140 | Affiliated Managers Group Inc.  | 42865  |
| 522 | Air Lease Corp., Class A Shares | 33846  |
| 1410 | Ally Financial Inc.  | 55610  |
| 1542 | AlTi Global Inc.<sup>\*</sup> | 6831  |
| 516 | Ameriprise Financial Inc.  | 242582  |
| 1046 | Ares Management Corp., Class A Shares | 117162  |
| 1504 | Artisan Partners Asset Management Inc., Class A Shares | 60581  |
| 189 | Atlanticus Holdings Corp.<sup>\*</sup> | 9887  |
| 270 | Bakkt Inc.<sup>\*</sup> | 2581  |
| 126 | Better Home & Finance Holding Co.<sup>\*</sup> | 4145  |
| 8648 | BGC Group Inc., Class A Shares | 82329  |
| 3540 | Blue Owl Capital Inc., Class A Shares<sup>(a)</sup> | 37347  |
| 1120 | Bread Financial Holdings Inc.  | 79363  |
| 643 | Brookfield Business Corp., Class A Shares<sup>(b)</sup> | 22151  |
| 4597 | Burford Capital Ltd.  | 38799  |
| 584 | Cboe Global Markets Inc.  | 175036  |
| 254 | Circle Internet Group Inc., Class A Shares<sup>\*</sup> | 21194  |
| 730 | Cohen & Steers Inc.  | 48815  |
| 1239 | Coinbase Global Inc., Class A Shares<sup>\*</sup> | 217878  |
| 629 | Columbia Financial Inc.<sup>\*</sup> | 11259  |
| 487 | Consumer Portfolio Services Inc.<sup>\*</sup> | 3945  |
| 24 | Credit Acceptance Corp.<sup>\*</sup> | 11356  |
| 1988 | Dave Inc.<sup>\*</sup> | 384221  |
| 60 | Diamond Hill Investment Group Inc.  | 10312  |
| 4071 | DigitalBridge Group Inc.  | 62897  |
| 750 | Enact Holdings Inc.  | 31380  |
| 603 | Encore Capital Group Inc.<sup>\*</sup> | 41179  |

---

See Notes to Financial Statements.

53<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  |
| **Diversified Financial Services – (continued)**  | **Diversified Financial Services – (continued)**  | **Diversified Financial Services – (continued)**  |
| 587 | Enova International Inc.<sup>\*</sup> | $81622  |
| 12501 | Evercore Inc., Class A Shares | 3860809  |
| 240 | Federal Agricultural Mortgage Corp., Class C Shares | 37838  |
| 163 | Finance Of America Cos., Inc., Class A Shares<sup>\*</sup> | 3154  |
| 141 | First Western Financial Inc.<sup>\*</sup> | 3566  |
| 275 | Forge Global Holdings Inc.<sup>\*</sup> | 12375  |
| 1553 | Franklin Resources Inc.  | 41217  |
| 111 | Freedom Holding Corp.<sup>\*</sup> | 13339  |
| 1025 | GCM Grosvenor Inc., Class A Shares | 11870  |
| 200 | Hamilton Lane Inc., Class A Shares | 20988  |
| 276 | Houlihan Lokey Inc., Class A Shares | 45201  |
| 856 | International Money Express Inc.<sup>\*</sup> | 13508  |
| 1823 | Invesco Ltd.  | 47872  |
| 624 | Janus Henderson Group PLC | 32510  |
| 777 | Jefferies Financial Group Inc.  | 34499  |
| 282 | Jefferson Capital Inc.  | 5818  |
| 495 | Lazard Inc., Class A Shares | 25047  |
| 30236 | LendingClub Corp.<sup>\*</sup> | 450819  |
| 311 | LendingTree Inc.<sup>\*</sup> | 11622  |
| 3009 | loanDepot Inc., Class A Shares<sup>\*</sup> | 6229  |
| 444 | LPL Financial Holdings Inc.  | 133369  |
| 1309 | Marex Group PLC | 56889  |
| 344 | Medallion Financial Corp. | 3471  |
| 11798 | Miami International Holdings Inc.<sup>\*</sup> | 502595  |
| 1752 | Moelis & Co., Class A Shares | 103999  |
| 24617 | Nasdaq Inc.  | 2155957  |
| 1639 | Navient Corp.  | 14407  |
| 264 | Nelnet Inc., Class A Shares | 34177  |
| 1244 | NerdWallet Inc., Class A Shares<sup>\*</sup> | 13497  |
| 669 | OneMain Holdings Inc., Class A Shares | 36808  |
| 207 | Onity Group Inc.<sup>\*</sup> | 8675  |
| 1101 | Oportun Financial Corp.<sup>\*</sup> | 5703  |
| 748 | OppFi Inc.  | 6867  |
| 4206 | Pagseguro Digital Ltd., Class A Shares | 44626  |
| 888 | Paysign Inc.<sup>\*</sup> | 3152  |
| 703 | PennyMac Financial Services Inc.  | 64627  |
| 1427 | Perella Weinberg Partners, Class A Shares | 26414  |
| 412 | Piper Sandler Cos | 121767  |
| 555 | PJT Partners Inc., Class A Shares | 81962  |
| 979 | PRA Group Inc.<sup>\*</sup> | 15419  |
| 3298 | Radian Group Inc.  | 113847  |
| 974 | Raymond James Financial Inc.  | 149100  |

---

See Notes to Financial Statements.

54<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  |
| **Diversified Financial Services – (continued)**  | **Diversified Financial Services – (continued)**  | **Diversified Financial Services – (continued)**  |
| 287 | Regional Management Corp.  | $9132  |
| 112 | Resolute Holdings Management Inc.<sup>\*</sup> | 18878  |
| 72213 | Rocket Cos., Inc., Class A Shares | 1313554  |
| 509 | Security National Financial Corp., Class A Shares<sup>\*</sup> | 4612  |
| 529 | SEI Investments Co.  | 43018  |
| 167 | Silvercrest Asset Management Group Inc., Class A Shares | 2539  |
| 1055 | SLM Corp.  | 19771  |
| 6739 | SoFi Technologies Inc.<sup>\*</sup> | 119685  |
| 1697 | StepStone Group Inc., Class A Shares | 73209  |
| 765 | Stifel Financial Corp.  | 56648  |
| 11368 | StoneX Group Inc.<sup>\*</sup> | 1449420  |
| 223 | Strive Inc., Class B Shares<sup>\*</sup> | 1771  |
| 222 | SWK Holdings Corp.  | 3645  |
| 2028 | Synchrony Financial | 140155  |
| 1170 | T Rowe Price Group Inc.  | 110717  |
| 652 | TPG Inc., Class A Shares | 28310  |
| 600 | Tradeweb Markets Inc., Class A Shares | 73953  |
| 2092 | Upstart Holdings Inc.<sup>\*(a)</sup> | 56965  |
| 534 | UWM Holdings Corp.  | 2355  |
| 211 | Velocity Financial Inc.<sup>\*</sup> | 3923  |
| 1063 | Victory Capital Holdings Inc., Class A Shares | 73538  |
| 426 | Virtu Financial Inc., Class A Shares | 17641  |
| 176 | Virtus Investment Partners Inc.  | 24351  |
| 33025 | Voya Financial Inc.  | 2208712  |
| 6436 | Webull Corp.<sup>\*</sup> | 37393  |
| 1928 | Western Union Co.  | 18567  |
| 266 | Westwood Holdings Group Inc.  | 4458  |
| 37017 | WisdomTree Inc.  | 633361  |
| 63 | World Acceptance Corp.<sup>\*</sup> | 8497  |
| 2053 | XP Inc., Class A Shares | 44201  |
|  | Total Diversified Financial Services | 16953140  |
| **Equity Real Estate Investment Trusts (REITs) – 3.8%**  | **Equity Real Estate Investment Trusts (REITs) – 3.8%**  | **Equity Real Estate Investment Trusts (REITs) – 3.8%**  |
| 3161 | Acadia Realty Trust | 66128  |
| 222 | ACRES Commercial Realty Corp.<sup>\*</sup> | 4109  |
| 2177 | Adamas Trust Inc.  | 17939  |
| 5953 | AGNC Investment Corp.  | 66733  |
| 29740 | Agree Realty Corp.  | 2393475  |
| 1894 | Alexander & Baldwin Inc.  | 39376  |
| 50 | Alexander's Inc.  | 11731  |
| 879 | Alexandria Real Estate Equities Inc.  | 47501  |
| 238 | Alpine Income Property Trust Inc.  | 4693  |
| 1245 | American Assets Trust Inc.  | 24302  |

---

See Notes to Financial Statements.

55<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  |
| **Equity Real Estate Investment Trusts (REITs) – (continued)**  | **Equity Real Estate Investment Trusts (REITs) – (continued)**  | **Equity Real Estate Investment Trusts (REITs) – (continued)**  |
| 3974 | American Healthcare REIT Inc.  | $207602  |
| 1896 | American Homes 4 Rent, Class A Shares | 56880  |
| 1702 | Americold Realty Trust Inc.  | 22790  |
| 290 | Angel Oak Mortgage REIT Inc.  | 2488  |
| 3799 | Annaly Capital Management Inc.  | 88289  |
| 3700 | Apollo Commercial Real Estate Finance Inc.  | 39220  |
| 5373 | Apple Hospitality REIT Inc.  | 65873  |
| 4891 | Arbor Realty Trust Inc.  | 38786  |
| 1981 | Ares Commercial Real Estate Corp.  | 9945  |
| 2285 | Armada Hoffler Properties Inc.  | 14281  |
| 2500 | ARMOUR Residential REIT Inc.  | 44875  |
| 795 | AvalonBay Communities Inc.  | 140898  |
| 3915 | Blackstone Mortgage Trust Inc., Class A Shares | 75207  |
| 1207 | Braemar Hotels & Resorts Inc.  | 3512  |
| 4307 | Brandywine Realty Trust | 13739  |
| 3263 | BrightSpire Capital Inc., Class A Shares | 18958  |
| 1542 | Brixmor Property Group Inc.  | 46676  |
| 4564 | Broadstone Net Lease Inc., Class A Shares | 88496  |
| 219 | BRT Apartments Corp.  | 3213  |
| 878 | BXP Inc.  | 50555  |
| 550 | Camden Property Trust | 59587  |
| 5168 | CareTrust REIT Inc.  | 209924  |
| 590 | CBL & Associates Properties Inc.  | 22290  |
| 474 | Centerspace | 29815  |
| 1602 | Chatham Lodging Trust | 12351  |
| 367 | Chicago Atlantic Real Estate Finance Inc.  | 4459  |
| 128163 | Chimera Investment Corp.  | 1744298  |
| 287 | Chiron Real Estate Inc.  | 9939  |
| 3235 | Claros Mortgage Trust Inc.<sup>\*</sup> | 7732  |
| 642 | Community Healthcare Trust Inc.  | 10972  |
| 67623 | COPT Defense Properties | 2149059  |
| 1001 | Cousins Properties Inc.  | 23183  |
| 2417 | Crown Castle Inc.  | 216418  |
| 41870 | CTO Realty Growth Inc.  | 815628  |
| 1153 | CubeSmart | 47434  |
| 2509 | Curbline Properties Corp.  | 69775  |
| 4861 | DiamondRock Hospitality Co.  | 48805  |
| 1912 | Digital Realty Trust Inc.  | 338806  |
| 5365 | Diversified Healthcare Trust  | 36267  |
| 3882 | Douglas Emmett Inc.  | 38393  |
| 3163 | Dynex Capital Inc.  | 44377  |
| 1009 | Easterly Government Properties Inc., Class A Shares | 23490  |

---

See Notes to Financial Statements.

56<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  |
| **Equity Real Estate Investment Trusts (REITs) – (continued)**  | **Equity Real Estate Investment Trusts (REITs) – (continued)**  | **Equity Real Estate Investment Trusts (REITs) – (continued)**  |
| 12891 | EastGroup Properties Inc.  | $2530632  |
| 2514 | Ellington Financial Inc.  | 31224  |
| 3495 | Empire State Realty Trust Inc., Class A Shares | 20551  |
| 431 | EPR Properties | 25606  |
| 2700 | Equinix Inc.  | 2630502  |
| 1040 | Equity LifeStyle Properties Inc.  | 69846  |
| 2030 | Equity Residential | 128316  |
| 4685 | Essential Properties Realty Trust Inc.  | 159009  |
| 345 | Essex Property Trust Inc.  | 88013  |
| 1171 | Extra Space Storage Inc.  | 176856  |
| 1048 | Farmland Partners Inc.  | 13666  |
| 469 | Federal Realty Investment Trust | 51013  |
| 642 | First Industrial Realty Trust Inc.  | 40536  |
| 2395 | Four Corners Property Trust Inc.  | 61120  |
| 2113 | Franklin BSP Realty Trust Inc.  | 19292  |
| 1845 | Franklin Street Properties Corp.  | 1518  |
| 475 | FrontView REIT Inc.  | 7871  |
| 1461 | Gaming & Leisure Properties Inc.  | 71458  |
| 1294 | Getty Realty Corp.  | 42469  |
| 1339 | Gladstone Commercial Corp.  | 16724  |
| 760 | Gladstone Land Corp.  | 9333  |
| 5254 | Global Net Lease Inc.  | 49493  |
| 1930 | Healthcare Realty Trust Inc., Class A Shares | 35609  |
| 3550 | Healthpeak Properties Inc.  | 62764  |
| 602 | Highwoods Properties Inc.  | 13539  |
| 3502 | Host Hotels & Resorts Inc.  | 68604  |
| 1205 | Hudson Pacific Properties Inc.<sup>\*</sup> | 8724  |
| 5618 | Independence Realty Trust Inc.  | 93090  |
| 1352 | Industrial Logistics Properties Trust | 7923  |
| 657 | Innovative Industrial Properties Inc., Class A Shares | 34795  |
| 1863 | InvenTrust Properties Corp.  | 58126  |
| 1624 | Invesco Mortgage Capital Inc.  | 13690  |
| 3311 | Invitation Homes Inc.  | 87212  |
| 1636 | Iron Mountain Inc.  | 177228  |
| 1518 | JBG SMITH Properties | 23089  |
| 687 | Kilroy Realty Corp.  | 20486  |
| 3733 | Kimco Realty Corp.  | 87912  |
| 5129 | Kite Realty Group Trust | 133611  |
| 1468 | KKR Real Estate Finance Trust Inc.  | 10203  |
| 2949 | Ladder Capital Corp., Class A Shares | 30581  |
| 487 | Lamar Advertising Co., Class A Shares | 67079  |
| 362 | Lineage Inc.  | 14668  |

---

See Notes to Financial Statements.

57<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  |
| **Equity Real Estate Investment Trusts (REITs) – (continued)**  | **Equity Real Estate Investment Trusts (REITs) – (continued)**  | **Equity Real Estate Investment Trusts (REITs) – (continued)**  |
| 1227 | LTC Properties Inc.  | $48687  |
| 1707 | Lument Finance Trust Inc.  | 2356  |
| 1396 | LXP Industrial Trust | 69186  |
| 5989 | Macerich Co.  | 122595  |
| 3362 | Medical Properties Trust Inc.<sup>(a)</sup> | 19365  |
| 2656 | MFA Financial Inc.  | 26852  |
| 648 | Mid-America Apartment Communities Inc.  | 86741  |
| 830 | Millrose Properties Inc.  | 26029  |
| 318 | Modiv Industrial Inc., Class C Shares | 4932  |
| 1113 | National Health Investors Inc.  | 93570  |
| 45554 | National Storage Affiliates Trust | 1595301  |
| 354 | NET Lease Office Properties | 4829  |
| 2307 | NETSTREIT Corp.  | 47916  |
| 196 | NexPoint Real Estate Finance Inc.  | 2844  |
| 580 | NexPoint Residential Trust Inc.  | 16350  |
| 948 | NNN REIT Inc.  | 42963  |
| 1640 | Omega Healthcare Investors Inc.  | 79163  |
| 364 | One Liberty Properties Inc.  | 8550  |
| 3123 | Orchid Island Capital Inc.  | 23235  |
| 3332 | Outfront Media Inc.  | 95995  |
| 1181 | Park Hotels & Resorts Inc.  | 13357  |
| 828 | Peakstone Realty Trust | 17272  |
| 3115 | Pebblebrook Hotel Trust | 39966  |
| 2247 | PennyMac Mortgage Investment Trust | 27548  |
| 3054 | Phillips Edison & Co., Inc.  | 119961  |
| 3200 | Piedmont Realty Trust Inc., Class A Shares<sup>\*</sup> | 24288  |
| 814 | Postal Realty Trust Inc., Class A Shares | 16874  |
| 1613 | Rayonier Inc.  | 34663  |
| 4168 | Ready Capital Corp.  | 7711  |
| 5089 | Realty Income Corp.  | 340963  |
| 3370 | Redwood Trust Inc.  | 20389  |
| 926 | Regency Centers Corp.  | 73154  |
| 1301 | Rexford Industrial Realty Inc.  | 48749  |
| 3036 | Rithm Capital Corp.  | 30512  |
| 250 | Rithm Property Trust Inc.  | 3640  |
| 3966 | RLJ Lodging Trust | 31807  |
| 1516 | Ryman Hospitality Properties Inc.  | 149705  |
| 5910 | Sabra Health Care REIT Inc.  | 121451  |
| 1335 | Safehold Inc.  | 21547  |
| 315 | Saul Centers Inc.  | 10735  |
| 588 | SBA Communications Corp., Class A Shares | 118282  |
| 3830 | Service Properties Trust | 8809  |

---

See Notes to Financial Statements.

58<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  |
| **Equity Real Estate Investment Trusts (REITs) – (continued)**  | **Equity Real Estate Investment Trusts (REITs) – (continued)**  | **Equity Real Estate Investment Trusts (REITs) – (continued)**  |
| 885 | Seven Hills Realty Trust | $7576  |
| 1307 | Sila Realty Trust Inc.  | 33629  |
| 1801 | Simon Property Group Inc.  | 367134  |
| 1157 | SITE Centers Corp.  | 7127  |
| 1738 | SL Green Realty Corp.  | 64045  |
| 800 | Smartstop Self Storage REIT Inc.  | 26680  |
| 51500 | STAG Industrial Inc.  | 2019830  |
| 84822 | Starwood Property Trust Inc.  | 1510680  |
| 354 | Strawberry Fields REIT Inc.  | 4531  |
| 2608 | Summit Hotel Properties Inc.  | 11762  |
| 685 | Sun Communities Inc.  | 93475  |
| 400 | Sunrise Realty Trust Inc.  | 3748  |
| 4571 | Sunstone Hotel Investors Inc.  | 42419  |
| 2694 | Tanger Inc.  | 99840  |
| 2412 | Terreno Realty Corp.  | 159337  |
| 569 | TPG Mortgage Investment Trust Inc.  | 4603  |
| 1453 | TPG RE Finance Trust Inc.  | 12292  |
| 2688 | Two Harbors Investment Corp.  | 27767  |
| 1695 | UDR Inc.  | 63563  |
| 2039 | UMH Properties Inc.  | 30748  |
| 307 | Universal Health Realty Income Trust | 13391  |
| 3045 | Urban Edge Properties | 64706  |
| 31102 | Ventas Inc.  | 2679748  |
| 2039 | Veris Residential Inc.  | 38435  |
| 5937 | VICI Properties Inc., Class A Shares | 179357  |
| 888 | Vornado Realty Trust | 24491  |
| 3932 | Weyerhaeuser Co.  | 96452  |
| 1220 | Whitestone REIT, Class B Shares | 18532  |
| 1209 | WP Carey Inc.  | 90252  |
| 2240 | Xenia Hotels & Resorts Inc.  | 34227  |
|  | Total Equity Real Estate Investment Trusts (REITs) | 28494472  |
| **Insurance – 1.7%**  | **Insurance – 1.7%**  | **Insurance – 1.7%**  |
| 981 | Abacus Global Management Inc.  | 8957  |
| 1467 | Allstate Corp.  | 314701  |
| 525 | American Coastal Insurance Corp.  | 5980  |
| 335 | American Financial Group Inc.  | 44548  |
| 489 | AMERISAFE Inc.  | 15907  |
| 1935 | Arch Capital Group Ltd.<sup>\*</sup> | 193790  |
| 258 | Assurant Inc.  | 59234  |
| 229 | Assured Guaranty Ltd.  | 19742  |
| 384 | Axis Capital Holdings Ltd.  | 40596  |
| 1689 | Baldwin Insurance Group Inc., Class A Shares<sup>\*</sup> | 39235  |

---

See Notes to Financial Statements.

59<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  |
| **Insurance – (continued)**  | **Insurance – (continued)**  | **Insurance – (continued)**  |
| 435 | Bowhead Specialty Holdings Inc.<sup>\*</sup> | $11019  |
| 352 | Brighthouse Financial Inc.<sup>\*</sup> | 21113  |
| 1605 | Brown & Brown Inc.  | 115271  |
| 824 | Cincinnati Financial Corp.  | 135119  |
| 1628 | Citizens Inc., Class A Shares<sup>\*</sup> | 8824  |
| 113 | CNA Financial Corp.  | 5426  |
| 2394 | CNO Financial Group Inc.  | 100093  |
| 1465 | Corebridge Financial Inc.  | 37856  |
| 327 | Crawford & Co., Class A Shares | 3518  |
| 483 | Donegal Group Inc., Class A Shares | 8510  |
| 1016 | eHealth Inc.<sup>\*</sup> | 1321  |
| 640 | Employers Holdings Inc.  | 26464  |
| 1575 | Equitable Holdings Inc.  | 63346  |
| 2234 | Essent Group Ltd.  | 135917  |
| 216 | Everest Group Ltd.  | 72466  |
| 15009 | Exzeo Group Inc.<sup>\*</sup> | 251551  |
| 875 | F&G Annuities & Life Inc.  | 19819  |
| 1416 | Fidelis Insurance Holdings Ltd.  | 26989  |
| 1336 | Fidelity National Financial Inc.  | 70648  |
| 22078 | First American Financial Corp. | 1547889  |
| 9916 | Genworth Financial Inc., Class A Shares<sup>\*</sup> | 83691  |
| 462 | Globe Life Inc.  | 67110  |
| 298 | GoHealth Inc., Class A Shares<sup>\*</sup> | 408  |
| 571 | Goosehead Insurance Inc., Class A Shares<sup>\*</sup> | 30948  |
| 622 | Greenlight Capital Re Ltd., Class A Shares<sup>\*</sup> | 8826  |
| 1209 | Hamilton Insurance Group Ltd., Class B Shares<sup>\*</sup> | 38192  |
| 10772 | Hanover Insurance Group Inc.  | 1945746  |
| 1561 | Hartford Insurance Group Inc.  | 219836  |
| 251 | HCI Group Inc.  | 44281  |
| 553 | Heritage Insurance Holdings Inc.<sup>\*</sup> | 15412  |
| 470 | Hippo Holdings Inc.<sup>\*</sup> | 13517  |
| 1075 | Horace Mann Educators Corp.  | 46773  |
| 31 | Investors Title Co.  | 7158  |
| 1633 | Jackson Financial Inc., Class A Shares | 178781  |
| 1462 | James River Group Holdings Inc.  | 10234  |
| 352 | Kemper Corp.  | 11377  |
| 79 | Kestrel Group Ltd.<sup>\*</sup> | 1216  |
| 388 | Kingstone Cos., Inc.  | 6394  |
| 301 | Kingsway Financial Services Inc.<sup>\*</sup> | 3684  |
| 113 | Kinsale Capital Group Inc.  | 44033  |
| 1427 | Lemonade Inc.<sup>\*</sup> | 73833  |
| 853 | Lincoln National Corp.  | 29258  |

---

See Notes to Financial Statements.

60<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  |
| **Insurance – (continued)**  | **Insurance – (continued)**  | **Insurance – (continued)**  |
| 937 | Loews Corp.  | $103089  |
| 69 | Markel Group Inc.<sup>\*</sup> | 143000  |
| 900 | MBIA Inc.<sup>\*</sup> | 5895  |
| 634 | Mercury General Corp.  | 57428  |
| 63608 | MGIC Investment Corp.  | 1687520  |
| 211 | NI Holdings Inc.<sup>\*</sup> | 2802  |
| 29335 | NMI Holdings Inc., Class A Shares<sup>\*</sup> | 1153159  |
| 1080 | Octave Specialty Group Inc.<sup>\*</sup> | 5778  |
| 1291 | Old Republic International Corp.  | 55345  |
| 637 | Palomar Holdings Inc.<sup>\*</sup> | 78803  |
| 185 | Primerica Inc.  | 46927  |
| 1218 | Principal Financial Group Inc.  | 116222  |
| 1283 | ProAssurance Corp.<sup>\*</sup> | 31498  |
| 1924 | Prudential Financial Inc.  | 189283  |
| 338 | Reinsurance Group of America Inc.  | 72917  |
| 244 | RenaissanceRe Holdings Ltd.  | 73800  |
| 410 | RLI Corp.  | 25551  |
| 250 | Root Inc., Class A Shares<sup>\*</sup> | 12970  |
| 45930 | Ryan Specialty Holdings Inc., Class A Shares | 1807345  |
| 379 | Safety Insurance Group Inc.  | 29422  |
| 1502 | Selective Insurance Group Inc.  | 126228  |
| 3276 | Selectquote Inc.<sup>\*</sup> | 2818  |
| 2562 | SiriusPoint Ltd.<sup>\*</sup> | 54161  |
| 852 | Skyward Specialty Insurance Group Inc.<sup>\*</sup> | 39592  |
| 650 | Slide Insurance Holdings Inc.<sup>\*</sup> | 12350  |
| 712 | Stewart Information Services Corp.  | 50545  |
| 592 | Tiptree Inc.  | 10082  |
| 884 | Trupanion Inc.<sup>\*</sup> | 23461  |
| 567 | United Fire Group Inc.  | 22034  |
| 674 | Universal Insurance Holdings Inc.  | 23705  |
| 888 | Unum Group | 63696  |
| 15 | White Mountains Insurance Group Ltd.  | 33308  |
| 528 | Willis Towers Watson PLC | 161130  |
| 1611 | WR Berkley Corp.  | 115509  |
|  | Total Insurance | 12723930  |
| **Investment Companies – 0.6%**  | **Investment Companies – 0.6%**  | **Investment Companies – 0.6%**  |
| 7736 | Bit Digital Inc.<sup>\*</sup> | 12919  |
| 2183 | Bitdeer Technologies Group, Class A Shares<sup>\*</sup> | 16809  |
| 1453 | Cannae Holdings Inc.  | 17727  |
| 31241 | Cipher Digital Inc.<sup>\*</sup> | 487360  |
| 6675 | Cleanspark Inc.<sup>\*</sup> | 66416  |
| 6934 | Core Scientific Inc.<sup>\*</sup> | 117670  |

---

See Notes to Financial Statements.

61<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  |
| **Investment Companies – (continued)**  | **Investment Companies – (continued)**  | **Investment Companies – (continued)**  |
| 2947 | HA Sustainable Infrastructure Capital Inc., REIT | $107624  |
| 8342 | Hut 8 Corp.<sup>\*</sup> | 444045  |
| 22964 | Innventure Inc.<sup>\*</sup> | 65218  |
| 9041 | MARA Holdings Inc.<sup>\*</sup> | 80827  |
| 8505 | Riot Platforms Inc.<sup>\*</sup> | 138546  |
| 168374 | Terawulf Inc.<sup>\*</sup> | 2731026  |
|  | Total Investment Companies | 4286187  |
| **Private Equity – 0.0%**  | **Private Equity – 0.0%**  | **Private Equity – 0.0%**  |
| 1419 | Carlyle Group Inc.  | 73774  |
| 1705 | Patria Investments Ltd., Class A Shares | 22370  |
| 1605 | Ridgepost Capital Inc., Class A Shares | 12952  |
|  | Total Private Equity | 109096  |
| **Real Estate – 0.5%**  | **Real Estate – 0.5%**  | **Real Estate – 0.5%**  |
| 1658 | CBRE Group Inc., Class A Shares<sup>\*</sup> | 244820  |
| 15299 | Compass Inc., Class A Shares<sup>\*</sup> | 149165  |
| 2321 | CoStar Group Inc.<sup>\*</sup> | 103586  |
| 5823 | Cushman & Wakefield Ltd.<sup>\*</sup> | 78086  |
| 2537 | Douglas Elliman Inc.<sup>\*</sup> | 5784  |
| 2112 | eXp World Holdings Inc.  | 14721  |
| 306 | FRP Holdings Inc.<sup>\*</sup> | 7326  |
| 173 | Howard Hughes Holdings Inc.<sup>\*</sup> | 12520  |
| 256 | Jones Lang LaSalle Inc.<sup>\*</sup> | 80781  |
| 2946 | Kennedy-Wilson Holdings Inc.  | 32052  |
| 241 | Legacy Housing Corp.<sup>\*</sup> | 5283  |
| 598 | Marcus & Millichap Inc.  | 15793  |
| 190 | Maui Land & Pineapple Co., Inc.<sup>\*</sup> | 3126  |
| 590 | McGrath RentCorp  | 65461  |
| 188836 | Newmark Group Inc., Class A Shares | 2741899  |
| 638 | RE/MAX Holdings Inc., Class A Shares<sup>\*</sup> | 4013  |
| 2345 | Real Brokerage Inc.<sup>\*</sup> | 6214  |
| 595 | RMR Group Inc., Class A Shares | 9746  |
| 242 | Seaport Entertainment Group Inc.<sup>\*</sup> | 5653  |
| 593 | Sky Harbour Group Corp., Class A Shares<sup>\*</sup> | 5207  |
| 949 | St Joe Co.  | 68489  |
| 128 | Stratus Properties Inc.<sup>\*</sup> | 3907  |
|  | Total Real Estate | 3663632  |
| **Savings & Loans – 0.1%**  | **Savings & Loans – 0.1%**  | **Savings & Loans – 0.1%**  |
| 1306 | Axos Financial Inc.<sup>\*</sup> | 113387  |
| 3122 | Banc of California Inc.  | 57663  |
| 2060 | Beacon Financial Corp.  | 61264  |
| 294 | BV Financial Inc.<sup>\*</sup> | 5492  |
| 3137 | Capitol Federal Financial Inc.  | 22524  |

---

See Notes to Financial Statements.

62<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  |
| **Savings & Loans – (continued)**  | **Savings & Loans – (continued)**  | **Savings & Loans – (continued)**  |
| 94 | CF Bankshares Inc.  | $2841  |
| 323 | Citizens Community Bancorp Inc.  | 5624  |
| 255 | Eagle Bancorp Montana Inc.  | 5534  |
| 84 | Finward Bancorp | 3138  |
| 109 | First Capital Inc.  | 5537  |
| 987 | Flushing Financial Corp.  | 15229  |
| 236 | FS Bancorp Inc.  | 9324  |
| 248 | Greene County Bancorp Inc.  | 5473  |
| 36 | Hingham Institution For Savings The | 10048  |
| 156 | Home Bancorp Inc.  | 9220  |
| 350 | HomeTrust Bancshares Inc.  | 14749  |
| 882 | Northfield Bancorp Inc.  | 11766  |
| 3592 | Northwest Bancshares Inc.  | 44720  |
| 1479 | OceanFirst Financial Corp.  | 26711  |
| 3333 | Provident Financial Services Inc.  | 70126  |
| 725 | Riverview Bancorp Inc.  | 3879  |
| 80 | Sound Financial Bancorp Inc.  | 3398  |
| 233 | Southern Missouri Bancorp Inc.  | 14425  |
| 210 | TFS Financial Corp.  | 2944  |
| 153 | Timberland Bancorp Inc.  | 5826  |
| 1927 | WaFd Inc.  | 60045  |
| 338 | Waterstone Financial Inc.  | 6020  |
| 1397 | WSFS Financial Corp.  | 88724  |
|  | Total Savings & Loans  | 685631  |
|  | **TOTAL FINANCIAL** | **111789508**  |
| **GOVERNMENT – 0.0%**  | **GOVERNMENT – 0.0%**  | **GOVERNMENT – 0.0%**  |
| **Multi-National – 0.0%**  | **Multi-National – 0.0%**  | **Multi-National – 0.0%**  |
| 696 | Banco Latinoamericano de Comercio Exterior SA, Class E Shares | 34821  |
| **INDUSTRIAL – 22.2%**  | **INDUSTRIAL – 22.2%**  | **INDUSTRIAL – 22.2%**  |
| **Aerospace/Defense – 3.0%**  | **Aerospace/Defense – 3.0%**  | **Aerospace/Defense – 3.0%**  |
| 904 | AAR Corp.<sup>\*</sup> | 105922  |
| 3046 | AeroVironment Inc.<sup>\*</sup> | 768353  |
| 782 | AerSale Corp.<sup>\*</sup> | 6100  |
| 67893 | Amprius Technologies Inc.<sup>\*</sup> | 728492  |
| 15162 | Archer Aviation Inc., Class A Shares<sup>\*</sup> | 107953  |
| 13227 | Astronics Corp.<sup>\*</sup> | 1066361  |
| 13088 | ATI Inc.<sup>\*</sup> | 2141066  |
| 4725 | Curtiss-Wright Corp. | 3309059  |
| 343 | Ducommun Inc.<sup>\*</sup> | 42391  |
| 1635 | Eve Holding Inc.<sup>\*</sup> | 4905  |
| 507 | Firefly Aerospace Inc.<sup>\*(a)</sup> | 9770  |
| 13509 | FTAI Aviation Ltd.  | 4131052  |

---

See Notes to Financial Statements.

63<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **INDUSTRIAL – (continued)**  | **INDUSTRIAL – (continued)**  | **INDUSTRIAL – (continued)**  |
| **Aerospace/Defense – (continued)**  | **Aerospace/Defense – (continued)**  | **Aerospace/Defense – (continued)**  |
| 237 | HEICO Corp.  | $75712  |
| 411 | HEICO Corp., Class A Shares | 98685  |
| 23816 | Hexcel Corp.  | 2207505  |
| 2229 | Howmet Aerospace Inc.  | 585179  |
| 9866 | Innovative Solutions & Support Inc.<sup>\*</sup> | 255924  |
| 2558 | Intuitive Machines Inc., Class A Shares<sup>\*(a)</sup> | 42156  |
| 12240 | Joby Aviation Inc.<sup>\*</sup> | 123134  |
| 15260 | Karman Holdings Inc.<sup>\*</sup> | 1344559  |
| 12998 | Kratos Defense & Security Solutions Inc.<sup>\*</sup> | 1120168  |
| 1038 | L3Harris Technologies Inc.  | 378393  |
| 467 | Leonardo DRS Inc.  | 20263  |
| 252 | Loar Holdings Inc.<sup>\*</sup> | 17839  |
| 9630 | Mercury Systems Inc.<sup>\*</sup> | 857359  |
| 663 | Moog Inc., Class A Shares | 223716  |
| 122 | National Presto Industries Inc.  | 16097  |
| 2210 | Red Cat Holdings Inc.<sup>\*</sup> | 25747  |
| 1731 | Redwire Corp.<sup>\*</sup> | 15700  |
| 25707 | Rocket Lab Corp.<sup>\*</sup> | 1776354  |
| 1073 | StandardAero Inc.<sup>\*</sup> | 33048  |
| 8863 | TAT Technologies Ltd.<sup>\*</sup> | 490744  |
| 334 | Voyager Technologies Inc., Class A Shares<sup>\*</sup> | 8914  |
|  | Total Aerospace/Defense | 22138620  |
| **Building Materials – 1.3%**  | **Building Materials – 1.3%**  | **Building Materials – 1.3%**  |
| 18034 | AAON Inc.  | 1825041  |
| 762 | AirJoule Technologies Corp., Class A Shares<sup>\*</sup> | 2461  |
| 406 | American Woodmark Corp.<sup>\*</sup> | 20341  |
| 30100 | Amrize Ltd.<sup>\*</sup> | 1956199  |
| 573 | Apogee Enterprises Inc.  | 22817  |
| 6058 | Armstrong World Industries Inc.  | 1051063  |
| 1498 | Aspen Aerogels Inc.<sup>\*</sup> | 4674  |
| 919 | Boise Cascade Co.  | 76038  |
| 573 | Builders FirstSource Inc.<sup>\*</sup> | 59758  |
| 221 | Carlisle Cos., Inc.  | 87244  |
| 166 | Eagle Materials Inc.  | 37151  |
| 608 | Fortune Brands Innovations Inc.  | 33039  |
| 709 | Gibraltar Industries Inc.<sup>\*</sup> | 32245  |
| 943 | Griffon Corp.  | 80381  |
| 1241 | Hayward Holdings Inc.<sup>\*</sup> | 19856  |
| 885 | James Hardie Industries PLC<sup>\*</sup> | 21550  |
| 2225 | JELD-WEN Holding Inc.<sup>\*</sup> | 4361  |
| 1432 | Knife River Corp.<sup>\*</sup> | 127419  |
| 169 | Lennox International Inc.  | 96320  |

---

See Notes to Financial Statements.

64<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **INDUSTRIAL – (continued)**  | **INDUSTRIAL – (continued)**  | **INDUSTRIAL – (continued)**  |
| **Building Materials – (continued)**  | **Building Materials – (continued)**  | **Building Materials – (continued)**  |
| 21315 | Louisiana-Pacific Corp.  | $1806233  |
| 7657 | LSI Industries Inc.  | 165544  |
| 335 | Martin Marietta Materials Inc.  | 226651  |
| 1083 | Masco Corp.  | 77565  |
| 3352 | Masterbrand Inc.<sup>\*</sup> | 33922  |
| 5013 | Modine Manufacturing Co.<sup>\*</sup> | 1139204  |
| 256 | Mohawk Industries Inc.<sup>\*</sup> | 32069  |
| 226 | NWPX Infrastructure Inc.<sup>\*</sup> | 17538  |
| 435 | Owens Corning | 53101  |
| 211 | Simpson Manufacturing Co., Inc.  | 40843  |
| 30 | Smith-Midland Corp.<sup>\*</sup> | 1152  |
| 1137 | SPX Technologies Inc.<sup>\*</sup> | 258031  |
| 579 | Tecnoglass Inc.  | 26379  |
| 762 | Titan America SA<sup>\*(a)</sup> | 13807  |
| 535 | Trex Co., Inc.<sup>\*</sup> | 22160  |
| 1371 | UFP Industries Inc.  | 141090  |
| 739 | Vulcan Materials Co.  | 229090  |
|  | Total Building Materials | 9842337  |
| **Electrical Components & Equipment – 0.9%**  | **Electrical Components & Equipment – 0.9%**  | **Electrical Components & Equipment – 0.9%**  |
| 157 | Acuity Inc.  | 47350  |
| 1063 | American Superconductor Corp.<sup>\*</sup> | 34632  |
| 1285 | AMETEK Inc.  | 307398  |
| 722 | AZZ Inc.  | 98178  |
| 16343 | Belden Inc.  | 2341952  |
| 1561 | Energizer Holdings Inc.  | 33702  |
| 880 | EnerSys | 146212  |
| 296 | Generac Holdings Inc.<sup>\*</sup> | 66709  |
| 9993 | Graham Corp.<sup>\*</sup> | 811631  |
| 446 | Insteel Industries Inc.  | 16627  |
| 145 | Littelfuse Inc.  | 51107  |
| 25263 | nLight Inc.<sup>\*</sup> | 1419528  |
| 874 | Novanta Inc.<sup>\*</sup> | 117492  |
| 1651 | Powell Industries Inc.  | 864464  |
| 221 | Universal Display Corp.  | 23578  |
|  | Total Electrical Components & Equipment | 6380560  |
| **Electronics – 2.3%**  | **Electronics – 2.3%**  | **Electronics – 2.3%**  |
| 889 | Advanced Energy Industries Inc.  | 298322  |
| 480 | Allegion PLC | 77352  |
| 10914 | Allient Inc.  | 718578  |
| 27064 | Applied Optoelectronics Inc.<sup>\*</sup> | 2279601  |
| 260 | Arrow Electronics Inc.<sup>\*</sup> | 39562  |
| 825 | Atkore Inc.  | 53386  |

---

See Notes to Financial Statements.

65<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **INDUSTRIAL – (continued)**  | **INDUSTRIAL – (continued)**  | **INDUSTRIAL – (continued)**  |
| **Electronics – (continued)**  | **Electronics – (continued)**  | **Electronics – (continued)**  |
| 2009 | Atmus Filtration Technologies Inc.  | $129641  |
| 425 | Avnet Inc.  | 27982  |
| 700 | Badger Meter Inc.  | 106701  |
| 39 | Bel Fuse Inc., Class A Shares | 8266  |
| 261 | Bel Fuse Inc., Class B Shares | 59954  |
| 934 | Benchmark Electronics Inc.  | 53995  |
| 2921 | Celestica Inc.<sup>\*</sup> | 810957  |
| 13939 | Coherent Corp.<sup>\*</sup> | 3609225  |
| 786 | CTS Corp.  | 41391  |
| 3905 | Enovix Corp.<sup>\*</sup> | 20579  |
| 613 | ESCO Technologies Inc.  | 169979  |
| 3272 | Evolv Technologies Holdings Inc.<sup>\*</sup> | 17342  |
| 2046 | Flex Ltd.<sup>\*</sup> | 128939  |
| 1863 | Fortive Corp.  | 110290  |
| 906 | Garmin Ltd.  | 229064  |
| 298 | Hubbell Inc., Class B Shares | 152466  |
| 171 | Ingram Micro Holding Corp.  | 3538  |
| 1134 | Itron Inc.<sup>\*</sup> | 106539  |
| 8666 | Jabil Inc.  | 2296403  |
| 956 | Keysight Technologies Inc.<sup>\*</sup> | 293808  |
| 569 | Kimball Electronics Inc.<sup>\*</sup> | 14219  |
| 2273 | Knowles Corp.<sup>\*</sup> | 61757  |
| 4883 | Kopin Corp.<sup>\*</sup> | 10792  |
| 1149 | KULR Technology Group Inc.<sup>\*</sup> | 3229  |
| 126 | Mesa Laboratories Inc.  | 12168  |
| 112 | Mettler-Toledo International Inc.<sup>\*</sup> | 153069  |
| 6353 | MicroVision Inc.<sup>\*(a)</sup> | 4962  |
| 5720 | Mirion Technologies Inc., Class A Shares<sup>\*</sup> | 123609  |
| 60 | M-Tron Industries Inc.<sup>\*</sup> | 3797  |
| 916 | Napco Security Technologies Inc.  | 42695  |
| 344 | Neonode Inc.<sup>\*</sup> | 626  |
| 107 | NVE Corp.  | 7366  |
| 894 | nVent Electric PLC | 105814  |
| 387 | OSI Systems Inc.<sup>\*</sup> | 110372  |
| 648 | Plexus Corp.<sup>\*</sup> | 125796  |
| 655 | Ralliant Corp.  | 30058  |
| 1232 | Sanmina Corp.<sup>\*</sup> | 191280  |
| 883 | Sensata Technologies Holding PLC | 32971  |
| 7257 | Standard BioTools Inc.<sup>\*</sup> | 8200  |
| 402 | TD SYNNEX Corp.  | 63038  |
| 1307 | Trimble Inc.<sup>\*</sup> | 87399  |
| 2414 | TTM Technologies Inc.<sup>\*</sup> | 251635  |

---

See Notes to Financial Statements.

66<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **INDUSTRIAL – (continued)**  | **INDUSTRIAL – (continued)**  | **INDUSTRIAL – (continued)**  |
| **Electronics – (continued)**  | **Electronics – (continued)**  | **Electronics – (continued)**  |
| 358 | Turtle Beach Corp.<sup>\*</sup> | $4489  |
| 586 | Vicor Corp.<sup>\*</sup> | 118020  |
| 2885 | Vishay Intertechnology Inc.  | 54007  |
| 739 | Vontier Corp.  | 30240  |
| 10321 | Woodward Inc.  | 3991750  |
|  | Total Electronics | 17487218  |
| **Engineering & Construction – 2.3%**  | **Engineering & Construction – 2.3%**  | **Engineering & Construction – 2.3%**  |
| 502 | 908 Devices Inc.<sup>\*</sup> | 3464  |
| 680 | AECOM | 66626  |
| 1145 | Arcosa Inc.  | 123065  |
| 318 | Argan Inc.  | 143498  |
| 408 | Bowman Consulting Group Ltd.<sup>\*</sup> | 13684  |
| 18722 | Cardinal Infrastructure Group Inc., Class A Shares<sup>\*</sup> | 603223  |
| 1788 | Centuri Holdings Inc.<sup>\*</sup> | 55428  |
| 2493 | Comfort Systems USA Inc.  | 3563419  |
| 473 | Concrete Pumping Holdings Inc.<sup>\*</sup> | 3188  |
| 13501 | Construction Partners Inc., Class A Shares<sup>\*</sup> | 1814129  |
| 661 | Dycom Industries Inc.<sup>\*</sup> | 277633  |
| 2940 | EMCOR Group Inc.  | 2130383  |
| 14354 | Energy Services of America Corp.  | 224210  |
| 10177 | Everus Construction Group Inc.<sup>\*</sup> | 1230094  |
| 1227 | Exponent Inc.  | 89301  |
| 3797 | Fluor Corp.<sup>\*</sup> | 198621  |
| 1730 | Frontdoor Inc.<sup>\*</sup> | 118626  |
| 1032 | Granite Construction Inc.  | 138763  |
| 1661 | Great Lakes Dredge & Dock Corp.<sup>\*</sup> | 28154  |
| 217 | IES Holdings Inc.<sup>\*</sup> | 107491  |
| 625 | Jacobs Solutions Inc.  | 86163  |
| 1034 | Latham Group Inc.<sup>\*</sup> | 6938  |
| 258 | Limbach Holdings Inc.<sup>\*</sup> | 23586  |
| 6361 | MasTec Inc.<sup>\*</sup> | 1895705  |
| 400 | Mistras Group Inc.<sup>\*</sup> | 6112  |
| 3164 | MYR Group Inc.<sup>\*</sup> | 854153  |
| 1271 | Orion Group Holdings Inc.<sup>\*</sup> | 17451  |
| 1276 | Primoris Services Corp.  | 192319  |
| 3919 | Sterling Infrastructure Inc.<sup>\*</sup> | 1677842  |
| 2874 | TopBuild Corp.<sup>\*</sup> | 1288414  |
| 542 | TSS Inc.<sup>\*</sup> | 5599  |
| 1117 | Tutor Perini Corp.  | 84188  |
|  | Total Engineering & Construction | 17071470  |

---

See Notes to Financial Statements.

67<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **INDUSTRIAL – (continued)**  | **INDUSTRIAL – (continued)**  | **INDUSTRIAL – (continued)**  |
| **Environmental Control – 1.1%**  | **Environmental Control – 1.1%**  | **Environmental Control – 1.1%**  |
| 1171 | Arq Inc.<sup>\*</sup> | $4110  |
| 1482 | Casella Waste Systems Inc., Class A Shares<sup>\*</sup> | 138063  |
| 18868 | CECO Environmental Corp.<sup>\*</sup> | 1140571  |
| 9082 | Clean Harbors Inc.<sup>\*</sup> | 2662842  |
| 1458 | Energy Recovery Inc.<sup>\*</sup> | 15207  |
| 86726 | Enviri Corp.<sup>\*</sup> | 1641723  |
| 807 | Montrose Environmental Group Inc.<sup>\*</sup> | 23581  |
| 898 | Pentair PLC | 89073  |
| 624 | Perma-Fix Environmental Services Inc.<sup>\*</sup> | 8511  |
| 711 | Pure Cycle Corp.<sup>\*</sup> | 7515  |
| 3229 | PureCycle Technologies Inc.<sup>\*(a)</sup> | 20375  |
| 1360 | Tetra Tech Inc.  | 48742  |
| 1274 | Veralto Corp.  | 124126  |
| 10600 | Waste Management Inc.  | 2552904  |
|  | Total Environmental Control | 8477343  |
| **Hand/Machine Tools – 0.9%**  | **Hand/Machine Tools – 0.9%**  | **Hand/Machine Tools – 0.9%**  |
| 664 | Cadre Holdings Inc.  | 29475  |
| 28176 | Enerpac Tool Group Corp., Class A Shares | 1149581  |
| 963 | Franklin Electric Co., Inc.  | 95934  |
| 1838 | Kennametal Inc.  | 74035  |
| 18010 | Lincoln Electric Holdings Inc.  | 5169771  |
| 606 | Luxfer Holdings PLC, ADR | 7799  |
| 186 | MSA Safety Inc.  | 36346  |
| 281 | Snap-on Inc.  | 108247  |
| 860 | Stanley Black & Decker Inc.  | 74381  |
|  | Total Hand/Machine Tools | 6745569  |
| **Machinery-Construction & Mining – 1.4%**  | **Machinery-Construction & Mining – 1.4%**  | **Machinery-Construction & Mining – 1.4%**  |
| 572 | Astec Industries Inc.  | 35515  |
| 76050 | Babcock & Wilcox Enterprises Inc.<sup>\*</sup> | 673803  |
| 23368 | Bloom Energy Corp., Class A Shares<sup>\*</sup> | 3637697  |
| 8524 | BWX Technologies Inc.  | 1755774  |
| 25684 | Forgent Power Solutions Inc., Class A Shares<sup>\*</sup> | 883273  |
| 288 | Hyster-Yale Inc.  | 10607  |
| 604 | Lightbridge Corp.<sup>\*</sup> | 7810  |
| 779 | Manitowoc Co., Inc.<sup>\*</sup> | 11490  |
| 944 | NANO Nuclear Energy Inc.<sup>\*(a)</sup> | 25101  |
| 920 | Net Power Inc.<sup>\*</sup> | 1776  |
| 3152 | NuScale Power Corp.<sup>\*</sup> | 40503  |
| 323 | Oshkosh Corp.  | 54916  |
| 2725 | Terex Corp.  | 187453  |
| 11615 | Vertiv Holdings Co., Class A Shares | 2960547  |
|  | Total Machinery-Construction & Mining | 10286265  |

---

See Notes to Financial Statements.

68<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **INDUSTRIAL – (continued)**  | **INDUSTRIAL – (continued)**  | **INDUSTRIAL – (continued)**  |
| **Machinery-Diversified – 3.4%**  | **Machinery-Diversified – 3.4%**  | **Machinery-Diversified – 3.4%**  |
| 795 | Aebi Schmidt Holding AG | $11464  |
| 312 | AGCO Corp.  | 42588  |
| 269 | Alamo Group Inc.  | 57440  |
| 721 | Albany International Corp., Class A Shares | 41566  |
| 3759 | Applied Industrial Technologies Inc.  | 1062218  |
| 33016 | Cactus Inc., Class A Shares | 1782864  |
| 1067 | Chart Industries Inc.<sup>\*</sup> | 221189  |
| 4490 | CNH Industrial NV | 55227  |
| 837 | Cognex Corp.  | 45533  |
| 724 | Columbus McKinnon Corp.  | 13742  |
| 21347 | Crane Co.  | 4280714  |
| 394 | CSW Industrials Inc.  | 115966  |
| 11556 | Dover Corp.  | 2605878  |
| 3767 | DXP Enterprises Inc.<sup>\*</sup> | 521616  |
| 1396 | Eastman Kodak Co.<sup>\*</sup> | 10219  |
| 287 | ESAB Corp.  | 36211  |
| 22887 | Flowserve Corp.  | 2025957  |
| 126340 | Gates Industrial Corp. PLC<sup>\*</sup> | 3483194  |
| 241 | Gencor Industries Inc.<sup>\*</sup> | 3764  |
| 517 | Gorman-Rupp Co.  | 33207  |
| 928 | Graco Inc.  | 87158  |
| 843 | Ichor Holdings Ltd.<sup>\*</sup> | 40085  |
| 422 | IDEX Corp.  | 88396  |
| 2217 | Ingersoll Rand Inc.  | 208708  |
| 284 | Kadant Inc.  | 96324  |
| 281 | Lindsay Corp.  | 37851  |
| 255 | Middleby Corp.<sup>\*</sup> | 43059  |
| 3765 | Mueller Water Products Inc., Class A Shares | 112686  |
| 276 | Nordson Corp.  | 80989  |
| 2154 | Otis Worldwide Corp.  | 199374  |
| 853 | Palladyne AI Corp.<sup>\*(a)</sup> | 5997  |
| 6470 | Power Solutions International Inc.<sup>\*</sup> | 540245  |
| 79 | Pro-Dex Inc.<sup>\*</sup> | 3500  |
| 13175 | Regal Rexnord Corp.  | 2911412  |
| 2354 | Richtech Robotics Inc., Class B Shares<sup>\*</sup> | 5861  |
| 6432 | Rockwell Automation Inc.  | 2620718  |
| 497 | Tennant Co.  | 30332  |
| 849 | Thermon Group Holdings Inc.<sup>\*</sup> | 43112  |
| 561 | Toro Co.  | 55460  |
| 648 | Watts Water Technologies Inc., Class A Shares | 213024  |
| 947 | Westinghouse Air Brake Technologies Corp.  | 249961  |

---

See Notes to Financial Statements.

69<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **INDUSTRIAL – (continued)**  | **INDUSTRIAL – (continued)**  | **INDUSTRIAL – (continued)**  |
| **Machinery-Diversified – (continued)**  | **Machinery-Diversified – (continued)**  | **Machinery-Diversified – (continued)**  |
| 1352 | Xylem Inc.  | $175165  |
| 20366 | Zurn Elkay Water Solutions Corp.  | 1038259  |
|  | Total Machinery-Diversified | 25338233  |
| **Metal Fabricate/Hardware – 1.9%**  | **Metal Fabricate/Hardware – 1.9%**  | **Metal Fabricate/Hardware – 1.9%**  |
| 12583 | Advanced Drainage Systems Inc.  | 2155971  |
| 296 | Ascent Industries Co.<sup>\*</sup> | 5079  |
| 254 | Eastern Co.  | 4717  |
| 6480 | Helios Technologies Inc.  | 462153  |
| 5188 | Hillman Solutions Corp.<sup>\*</sup> | 42542  |
| 3648 | Janus International Group Inc.<sup>\*</sup> | 25390  |
| 187 | L B Foster Co., Class A Shares<sup>\*</sup> | 5746  |
| 436 | Mayville Engineering Co., Inc.<sup>\*</sup> | 9156  |
| 1040 | Metallus Inc.<sup>\*</sup> | 17680  |
| 605 | Mueller Industries Inc.  | 71366  |
| 59 | Omega Flex Inc.  | 2120  |
| 305 | Park-Ohio Holdings Corp.  | 7851  |
| 11101 | Proto Labs Inc.<sup>\*</sup> | 689150  |
| 4103 | RBC Bearings Inc.<sup>\*</sup> | 2363000  |
| 1036 | Ryerson Holding Corp.  | 27102  |
| 13238 | Standex International Corp.  | 3468356  |
| 310 | Timken Co.  | 33598  |
| 890 | Tredegar Corp.<sup>\*</sup> | 8170  |
| 6172 | Valmont Industries Inc.  | 2838688  |
| 750 | Worthington Enterprises Inc.  | 42007  |
| 844 | Worthington Steel Inc.  | 35077  |
| 44319 | Xometry Inc., Class A Shares<sup>\*</sup> | 1817744  |
|  | Total Metal Fabricate/Hardware | 14132663  |
| **Miscellaneous Manufacturers – 2.3%**  | **Miscellaneous Manufacturers – 2.3%**  | **Miscellaneous Manufacturers – 2.3%**  |
| 585 | AO Smith Corp.  | 45630  |
| 2211 | Avient Corp.  | 90806  |
| 2297 | Axon Enterprise Inc.<sup>\*</sup> | 1245893  |
| 467 | Byrna Technologies Inc.<sup>\*</sup> | 5968  |
| 141 | Core Molding Technologies Inc.<sup>\*</sup> | 2573  |
| 18404 | Donaldson Co., Inc.  | 1707155  |
| 12907 | Enpro Inc.  | 3338396  |
| 18236 | Entegris Inc.  | 2415358  |
| 5422 | Fabrinet<sup>\*</sup> | 2958406  |
| 1416 | Federal Signal Corp.  | 164865  |
| 11293 | ITT Inc.  | 2285816  |
| 1232 | JBT Marel Corp.  | 189728  |
| 1221 | LSB Industries Inc.<sup>\*</sup> | 14188  |
| 503 | Materion Corp.  | 82019  |

---

See Notes to Financial Statements.

70<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **INDUSTRIAL – (continued)**  | **INDUSTRIAL – (continued)**  | **INDUSTRIAL – (continued)**  |
| **Miscellaneous Manufacturers – (continued)**  | **Miscellaneous Manufacturers – (continued)**  | **Miscellaneous Manufacturers – (continued)**  |
| 844 | Myers Industries Inc.  | $18880  |
| 501 | NL Industries Inc.  | 3096  |
| 1659 | Outdoor Holding Co.<sup>\*</sup> | 3534  |
| 381 | Park Aerospace Corp.  | 10066  |
| 1044 | Sight Sciences Inc.<sup>\*</sup> | 5387  |
| 1056 | Smith & Wesson Brands Inc.  | 12566  |
| 408 | Sturm Ruger & Co., Inc.  | 15275  |
| 3286 | Teledyne Technologies Inc.<sup>\*</sup> | 2238095  |
| 924 | Textron Inc.  | 91153  |
| 1957 | Trinity Industries Inc.  | 66890  |
|  | Total Miscellaneous Manufacturers | 17011743  |
| **Packaging & Containers – 0.4%**  | **Packaging & Containers – 0.4%**  | **Packaging & Containers – 0.4%**  |
| 2485 | Amcor PLC | 120349  |
| 334 | AptarGroup Inc.  | 47999  |
| 3524 | Ardagh Metal Packaging SA | 17091  |
| 1453 | Ball Corp.  | 97540  |
| 377 | Clearwater Paper Corp.<sup>\*</sup> | 5651  |
| 592 | Crown Holdings Inc.  | 67843  |
| 1498 | Graphic Packaging Holding Co.  | 18321  |
| 652 | Greif Inc., Class A Shares | 47381  |
| 104 | Greif Inc., Class B Shares | 9087  |
| 140 | Karat Packaging Inc.  | 3451  |
| 64905 | O-I Glass Inc.<sup>\*</sup> | 869727  |
| 485 | Packaging Corp. of America | 112588  |
| 933 | Ranpak Holdings Corp., Class A Shares<sup>\*</sup> | 4777  |
| 860 | Sealed Air Corp. | 36017  |
| 31693 | Silgan Holdings Inc.  | 1522849  |
| 2794 | Smurfit Westrock PLC | 131346  |
| 579 | Sonoco Products Co.  | 32696  |
| 769 | TriMas Corp.  | 30052  |
|  | Total Packaging & Containers | 3174765  |
| **Shipbuilding – 0.0%**  | **Shipbuilding – 0.0%**  | **Shipbuilding – 0.0%**  |
| 217 | Huntington Ingalls Industries Inc.  | 96461  |
| **Transportation – 1.0%**  | **Transportation – 1.0%**  | **Transportation – 1.0%**  |
| 6509 | ArcBest Corp.  | 668214  |
| 953 | Ardmore Shipping Corp.  | 15610  |
| 4571 | CH Robinson Worldwide Inc.  | 846778  |
| 199 | Costamare Bulkers Holdings Ltd.<sup>\*</sup> | 3797  |
| 999 | Costamare Inc.  | 17552  |
| 372 | Covenant Logistics Group Inc., Class A Shares | 10952  |
| 1557 | CryoPort Inc.<sup>\*</sup> | 13110  |
| 3001 | DHT Holdings Inc.  | 58490  |

---

See Notes to Financial Statements.

71<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **INDUSTRIAL – (continued)**  | **INDUSTRIAL – (continued)**  | **INDUSTRIAL – (continued)**  |
| **Transportation – (continued)**  | **Transportation – (continued)**  | **Transportation – (continued)**  |
| 935 | Dorian LPG Ltd.  | $34586  |
| 751 | Expeditors International of Washington Inc. | 108918  |
| 768 | FLEX LNG Ltd.<sup>(a)</sup> | 20982  |
| 638 | Forward Air Corp.<sup>\*</sup> | 16135  |
| 4195 | Genco Shipping & Trading Ltd.  | 100890  |
| 574 | GXO Logistics Inc.<sup>\*</sup> | 36064  |
| 1098 | Heartland Express Inc.  | 12111  |
| 643 | Himalaya Shipping Ltd.<sup>\*</sup> | 9459  |
| 1426 | Hub Group Inc., Class A Shares | 61418  |
| 1061 | International Seaways Inc.  | 80137  |
| 408 | JB Hunt Transport Services Inc.  | 95231  |
| 285 | Kirby Corp.<sup>\*</sup> | 36993  |
| 33095 | Knight-Swift Transportation Holdings Inc., Class A Shares | 2082337  |
| 172 | Landstar System Inc.  | 28027  |
| 1480 | Marten Transport Ltd.  | 20113  |
| 784 | Matson Inc.  | 130246  |
| 973 | Navigator Holdings Ltd.  | 20452  |
| 5082 | Nordic American Tankers Ltd.  | 29120  |
| 1038 | Old Dominion Freight Line Inc.  | 210766  |
| 309 | PAMT Corp.<sup>\*</sup> | 3102  |
| 665 | Pangaea Logistics Solutions Ltd.  | 6218  |
| 539 | Proficient Auto Logistics Inc.<sup>\*</sup> | 4080  |
| 1217 | Radiant Logistics Inc.<sup>\*</sup> | 9030  |
| 3901 | RXO Inc.<sup>\*</sup> | 62260  |
| 203 | Ryder System Inc.  | 44977  |
| 1214 | Safe Bulkers Inc.  | 7964  |
| 4741 | Saia Inc.<sup>\*</sup> | 1921954  |
| 242 | Schneider National Inc., Class B Shares | 6868  |
| 1033 | Scorpio Tankers Inc.  | 81690  |
| 2817 | SFL Corp., Ltd, Class B Shares | 31015  |
| 1378 | Teekay Corp., Ltd  | 17845  |
| 620 | Teekay Tankers Ltd., Class A Shares | 48527  |
| 268 | Universal Logistics Holdings Inc.  | 4457  |
| 1424 | Werner Enterprises Inc.  | 49968  |
| 1308 | World Kinect Corp.  | 32635  |
| 622 | XPO Inc.<sup>\*</sup> | 130912  |
|  | Total Transportation | 7231990  |
| **Trucking & Leasing – 0.0%**  | **Trucking & Leasing – 0.0%**  | **Trucking & Leasing – 0.0%**  |
| 847 | GATX Corp.  | 155992  |
| 807 | Greenbrier Cos., Inc.  | 45531  |
| 97 | Willis Lease Finance Corp.  | 19760  |
|  | Total Trucking & Leasing | 221283  |
|  | **TOTAL INDUSTRIAL** | **165636520**  |

---

See Notes to Financial Statements.

72<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **TECHNOLOGY – 9.1%**  | **TECHNOLOGY – 9.1%**  | **TECHNOLOGY – 9.1%**  |
| **Computers – 2.1%**  | **Computers – 2.1%**  | **Computers – 2.1%**  |
| 3019 | 3D Systems Corp.<sup>\*</sup> | $5827  |
| 619 | Amdocs Ltd.  | 43206  |
| 949 | Amentum Holdings Inc.<sup>\*</sup> | 28347  |
| 1023 | ASGN Inc.<sup>\*</sup> | 43887  |
| 7063 | CACI International Inc., Class A Shares<sup>\*</sup> | 4309631  |
| 1577 | Cantaloupe Inc.<sup>\*</sup> | 16464  |
| 2678 | Cognizant Technology Solutions Corp., Class A Shares | 172544  |
| 4943 | Conduent Inc.<sup>\*</sup> | 7217  |
| 1390 | Corsair Gaming Inc.<sup>\*</sup> | 7631  |
| 274 | Crane NXT Co.  | 13231  |
| 1004 | Cricut Inc., Class A Shares | 4317  |
| 654 | Diebold Nixdorf Inc.<sup>\*</sup> | 52320  |
| 7893 | D-Wave Quantum Inc.<sup>\*</sup> | 148231  |
| 1034 | DXC Technology Co.<sup>\*</sup> | 13018  |
| 305 | EPAM Systems Inc.<sup>\*</sup> | 43005  |
| 33429 | ExlService Holdings Inc.<sup>\*</sup> | 1044656  |
| 193 | Figure Technology Solutions Inc., Class A Shares<sup>\*(a)</sup> | 4879  |
| 388 | Gartner Inc.<sup>\*</sup> | 60994  |
| 813 | Genpact Ltd.  | 32292  |
| 253 | Globant SA<sup>\*</sup> | 12589  |
| 1774 | Grid Dynamics Holdings Inc.<sup>\*</sup> | 11975  |
| 7288 | Hewlett Packard Enterprise Co.  | 156473  |
| 5041 | HP Inc.  | 95729  |
| 670 | Insight Enterprises Inc.<sup>\*</sup> | 55985  |
| 645 | KBR Inc.  | 27238  |
| 1266 | Kyndryl Holdings Inc.<sup>\*</sup> | 15610  |
| 682 | Leidos Holdings Inc.  | 119418  |
| 9562 | Lumentum Holdings Inc.<sup>\*</sup> | 6702101  |
| 1335 | MAXIMUS Inc.  | 100939  |
| 1466 | Mitek Systems Inc.<sup>\*</sup> | 21374  |
| 1727 | NCR Atleos Corp.<sup>\*</sup> | 76472  |
| 3300 | NCR Voyix Corp.<sup>\*</sup> | 25212  |
| 1089 | NetApp Inc.  | 107844  |
| 1806 | NetScout Systems Inc.<sup>\*</sup> | 52753  |
| 2195 | NextNav Inc.<sup>\*</sup> | 35318  |
| 930 | Okta Inc., Class A Shares<sup>\*</sup> | 67425  |
| 808 | OneSpan Inc. | 8920  |
| 962 | PAR Technology Corp.<sup>\*</sup> | 15767  |
| 270 | Parsons Corp.<sup>\*</sup> | 17820  |
| 4376 | Pitney Bowes Inc.  | 46955  |
| 1665 | Pure Storage Inc., Class A Shares<sup>\*</sup> | 106926  |
| 862 | Qualys Inc.<sup>\*</sup> | 79709  |

---

See Notes to Financial Statements.

73<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **TECHNOLOGY – (continued)**  | **TECHNOLOGY – (continued)**  | **TECHNOLOGY – (continued)**  |
| **Computers – (continued)**  | **Computers – (continued)**  | **Computers – (continued)**  |
| 1641 | Rapid7 Inc.<sup>\*</sup> | $10207  |
| 7772 | Rigetti Computing Inc.<sup>\*</sup> | 135388  |
| 1184 | Rimini Street Inc.<sup>\*</sup> | 4404  |
| 743 | Rubrik Inc., Class A Shares<sup>\*</sup> | 38606  |
| 405 | SailPoint Inc.<sup>\*</sup> | 5711  |
| 787 | Sandisk Corp.<sup>\*</sup> | 500028  |
| 235 | Science Applications International Corp.  | 21681  |
| 2726 | Super Micro Computer Inc.<sup>\*</sup> | 88295  |
| 1309 | Telos Corp.<sup>\*</sup> | 5262  |
| 2885 | Tenable Holdings Inc.<sup>\*</sup> | 55479  |
| 354 | TTEC Holdings Inc.<sup>\*</sup> | 885  |
| 1437 | Unisys Corp.<sup>\*</sup> | 3492  |
| 547 | V2X Inc.<sup>\*</sup> | 38153  |
| 2757 | Varonis Systems Inc., Class B Shares<sup>\*</sup> | 63687  |
| 2219 | Vuzix Corp.<sup>\*(a)</sup> | 6413  |
| 1878 | Western Digital Corp.  | 525277  |
| 555 | Zscaler Inc.<sup>\*</sup> | 81579  |
|  | Total Computers | 15596796  |
| **Office/Business Equipment – 0.0%**  | **Office/Business Equipment – 0.0%**  | **Office/Business Equipment – 0.0%**  |
| 2975 | Xerox Holdings Corp.  | 5355  |
| 261 | Zebra Technologies Corp., Class A Shares<sup>\*</sup> | 58454  |
|  | Total Office/Business Equipment | 63809  |
| **Semiconductors – 5.2%**  | **Semiconductors – 5.2%**  | **Semiconductors – 5.2%**  |
| 1188 | ACM Research Inc., Class A Shares<sup>\*</sup> | 66148  |
| 607 | Aehr Test Systems<sup>\*</sup> | 22720  |
| 339 | Aeluma Inc.<sup>\*</sup> | 5244  |
| 696 | Allegro MicroSystems Inc.<sup>\*</sup> | 25383  |
| 594 | Alpha & Omega Semiconductor Ltd.<sup>\*</sup> | 12480  |
| 977 | Ambarella Inc.<sup>\*</sup> | 58952  |
| 10790 | Ambiq Micro Inc.<sup>\*</sup> | 331253  |
| 52041 | Amkor Technology Inc.  | 2488601  |
| 593 | Arteris Inc.<sup>\*</sup> | 10075  |
| 4800 | Astera Labs Inc.<sup>\*</sup> | 570384  |
| 972 | Atomera Inc.<sup>\*</sup> | 4899  |
| 771 | Axcelis Technologies Inc.<sup>\*</sup> | 63692  |
| 29832 | AXT Inc.<sup>\*</sup> | 1130633  |
| 1780 | Blaize Holdings Inc.<sup>\*</sup> | 2100  |
| 630 | CEVA Inc.<sup>\*</sup> | 13142  |
| 265 | Cirrus Logic Inc.<sup>\*</sup> | 37397  |
| 84382 | Cohu Inc.<sup>\*</sup> | 2548336  |
| 1100 | Diodes Inc.<sup>\*</sup> | 75053  |
| 1870 | FormFactor Inc.<sup>\*</sup> | 184906  |

---

See Notes to Financial Statements.

74<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **TECHNOLOGY – (continued)**  | **TECHNOLOGY – (continued)**  | **TECHNOLOGY – (continued)**  |
| **Semiconductors – (continued)**  | **Semiconductors – (continued)**  | **Semiconductors – (continued)**  |
| 566 | GLOBALFOUNDRIES Inc.<sup>\*</sup> | $26913  |
| 9503 | Impinj Inc.<sup>\*</sup> | 1165638  |
| 153 | IPG Photonics Corp.<sup>\*</sup> | 20130  |
| 1241 | Kulicke & Soffa Industries Inc.  | 86522  |
| 6292 | Lattice Semiconductor Corp.<sup>\*</sup> | 601641  |
| 7388 | MACOM Technology Solutions Holdings Inc.<sup>\*</sup> | 1833111  |
| 2051 | MaxLinear Inc., Class A Shares<sup>\*</sup> | 35749  |
| 37449 | Microchip Technology Inc.  | 2795193  |
| 10264 | MKS Inc.  | 2509137  |
| 258 | Monolithic Power Systems Inc.  | 294827  |
| 3782 | Navitas Semiconductor Corp., Class A Shares<sup>\*</sup> | 34038  |
| 2249 | ON Semiconductor Corp.<sup>\*</sup> | 149514  |
| 7517 | Onto Innovation Inc.<sup>\*</sup> | 1622845  |
| 1377 | Ouster Inc.<sup>\*</sup> | 26094  |
| 1309 | Penguin Solutions Inc.<sup>\*</sup> | 27201  |
| 1345 | Photronics Inc.<sup>\*</sup> | 50343  |
| 1365 | Power Integrations Inc.  | 65411  |
| 472 | Qorvo Inc.<sup>\*</sup> | 39129  |
| 11772 | Rambus Inc.<sup>\*</sup> | 1173198  |
| 211 | Richardson Electronics Ltd.  | 2591  |
| 20521 | Semtech Corp.<sup>\*</sup> | 1851405  |
| 14918 | Silicon Laboratories Inc.<sup>\*</sup> | 3051179  |
| 10009 | Silicon Motion Technology Corp., ADR | 1293463  |
| 8818 | SiTime Corp.<sup>\*</sup> | 3508506  |
| 573 | SkyWater Technology Inc.<sup>\*</sup> | 16881  |
| 784 | Skyworks Solutions Inc.  | 46711  |
| 935 | Synaptics Inc.<sup>\*</sup> | 76165  |
| 20530 | Teradyne Inc.  | 6570216  |
| 9757 | Tower Semiconductor Ltd.<sup>\*</sup> | 1218357  |
| 16686 | Ultra Clean Holdings Inc.<sup>\*</sup> | 1012506  |
| 1456 | Veeco Instruments Inc.<sup>\*</sup> | 44495  |
| 260 | Vishay Precision Group Inc.<sup>\*</sup> | 11978  |
|  | Total Semiconductors | 38912485  |
| **Software – 1.8%**  | **Software – 1.8%**  | **Software – 1.8%**  |
| 2844 | 8x8 Inc.<sup>\*</sup> | 6086  |
| 2440 | ACI Worldwide Inc.<sup>\*</sup> | 96819  |
| 4031 | ACV Auctions Inc., Class A Shares<sup>\*</sup> | 19591  |
| 2831 | Adeia Inc.  | 58573  |
| 622 | Agilysys Inc.<sup>\*</sup> | 44890  |
| 710 | Airship AI Holdings Inc.<sup>\*</sup> | 1938  |
| 734 | Akamai Technologies Inc.<sup>\*</sup> | 72218  |
| 3998 | Alignment Healthcare Inc.<sup>\*</sup> | 76842  |

---

See Notes to Financial Statements.

75<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **TECHNOLOGY – (continued)**  | **TECHNOLOGY – (continued)**  | **TECHNOLOGY – (continued)**  |
| **Software – (continued)**  | **Software – (continued)**  | **Software – (continued)**  |
| 1626 | Alkami Technology Inc.<sup>\*</sup> | $26902  |
| 2029 | Amplitude Inc., Class A Shares<sup>\*</sup> | 14812  |
| 109 | Appfolio Inc., Class A Shares<sup>\*</sup> | 19376  |
| 1051 | Appian Corp., Class A Shares<sup>\*</sup> | 28030  |
| 2191 | Asana Inc., Class A Shares<sup>\*</sup> | 15556  |
| 516 | Asure Software Inc.<sup>\*</sup> | 4716  |
| 3452 | AvePoint Inc.<sup>\*</sup> | 37213  |
| 577 | Bandwidth Inc., Class A Shares<sup>\*</sup> | 8551  |
| 837 | Bentley Systems Inc., Class B Shares | 30592  |
| 10224 | BigBear.ai Holdings Inc.<sup>\*(a)</sup> | 40487  |
| 454 | BILL Holdings Inc.<sup>\*</sup> | 20208  |
| 917 | Blackbaud Inc.<sup>\*</sup> | 44511  |
| 1267 | BlackLine Inc.<sup>\*</sup> | 44662  |
| 5891 | Blend Labs Inc., Class A Shares<sup>\*</sup> | 9897  |
| 3400 | Box Inc., Class A Shares<sup>\*</sup> | 80070  |
| 1822 | Braze Inc., Class A Shares<sup>\*</sup> | 34600  |
| 621 | Broadridge Financial Solutions Inc.  | 115425  |
| 184 | Bullish<sup>\*</sup> | 5776  |
| 2910 | C3.ai Inc., Class A Shares<sup>\*</sup> | 23134  |
| 2891 | CCC Intelligent Solutions Holdings Inc.<sup>\*</sup> | 16855  |
| 973 | Cerence Inc.<sup>\*</sup> | 7696  |
| 240 | Claritev Corp., Class A Shares<sup>\*</sup> | 3233  |
| 2002 | Clear Secure Inc., Class A Shares | 97377  |
| 6579 | Clearwater Analytics Holdings Inc., Class A Shares<sup>\*</sup> | 153883  |
| 127 | Climb Global Solutions Inc.  | 12024  |
| 1742 | Cloudflare Inc., Class A Shares<sup>\*</sup> | 299955  |
| 2263 | Commerce.com Inc.<sup>\*</sup> | 6291  |
| 1099 | CommVault Systems Inc.<sup>\*</sup> | 93503  |
| 241 | Concentrix Corp.  | 7905  |
| 1477 | Confluent Inc., Class A Shares<sup>\*</sup> | 45300  |
| 421 | Consensus Cloud Solutions Inc.<sup>\*</sup> | 12664  |
| 1030 | CS Disco Inc.<sup>\*</sup> | 3348  |
| 661 | CSG Systems International Inc.  | 52814  |
| 28 | Daily Journal Corp.<sup>\*</sup> | 14266  |
| 1735 | Datadog Inc., Class A Shares<sup>\*</sup> | 194251  |
| 1830 | Definitive Healthcare Corp., Class A Shares<sup>\*</sup> | 2342  |
| 918 | Digi International Inc.<sup>\*</sup> | 44817  |
| 349 | Digimarc Corp.<sup>\*(a)</sup> | 1537  |
| 2199 | Digital Turbine Inc.<sup>\*</sup> | 8928  |
| 1669 | DigitalOcean Holdings Inc.<sup>\*</sup> | 93564  |
| 1033 | DocuSign Inc., Class A Shares<sup>\*</sup> | 46557  |
| 753 | Domo Inc., Class B Shares<sup>\*</sup> | 2703  |

---

See Notes to Financial Statements.

76<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **TECHNOLOGY – (continued)**  | **TECHNOLOGY – (continued)**  | **TECHNOLOGY – (continued)**  |
| **Software – (continued)**  | **Software – (continued)**  | **Software – (continued)**  |
| 631 | Donnelley Financial Solutions Inc.<sup>\*</sup> | $31399  |
| 818 | DoubleVerify Holdings Inc.<sup>\*</sup> | 8622  |
| 693 | Doximity Inc., Class A Shares<sup>\*</sup> | 16999  |
| 1011 | Dropbox Inc., Class A Shares<sup>\*</sup> | 25265  |
| 193 | Duolingo Inc., Class A Shares<sup>\*</sup> | 19493  |
| 1510 | Dynatrace Inc.<sup>\*</sup> | 54239  |
| 483 | eGain Corp.<sup>\*</sup> | 4511  |
| 483 | Elastic NV<sup>\*</sup> | 25150  |
| 1398 | Electronic Arts Inc.  | 280397  |
| 425 | EverCommerce Inc.<sup>\*(a)</sup> | 4879  |
| 3065 | Evolent Health Inc., Class A Shares<sup>\*</sup> | 9961  |
| 2152 | Expensify Inc., Class A Shares<sup>\*</sup> | 2045  |
| 130 | Fair Isaac Corp.<sup>\*</sup> | 183217  |
| 41441 | Fastly Inc., Class A Shares<sup>\*</sup> | 792352  |
| 2856 | Fidelity National Information Services Inc.  | 145542  |
| 1822 | Five9 Inc.<sup>\*</sup> | 31776  |
| 4906 | Freshworks Inc., Class A Shares<sup>\*</sup> | 38365  |
| 5292 | Genius Sports Ltd.<sup>\*</sup> | 32863  |
| 573 | GigaCloud Technology Inc., Class A Shares<sup>\*</sup> | 25407  |
| 764 | Gitlab Inc., Class A Shares<sup>\*</sup> | 20093  |
| 450 | Guidewire Software Inc.<sup>\*</sup> | 65394  |
| 2097 | Health Catalyst Inc.<sup>\*</sup> | 3397  |
| 458 | HeartFlow Inc.<sup>\*</sup> | 10607  |
| 270 | HubSpot Inc.<sup>\*</sup> | 71418  |
| 558 | I3 Verticals Inc., Class A Shares<sup>\*</sup> | 12488  |
| 202 | IBEX Holdings Ltd.<sup>\*</sup> | 5838  |
| 422 | Ibotta Inc., Class A Shares<sup>\*</sup> | 10537  |
| 644 | Immersion Corp.  | 3935  |
| 6417 | Innodata Inc.<sup>\*</sup> | 283439  |
| 1331 | Intapp Inc.<sup>\*</sup> | 29854  |
| 7979 | IonQ Inc.<sup>\*(a)</sup> | 306154  |
| 14972 | Jack Henry & Associates Inc.  | 2432351  |
| 1888 | Kaltura Inc.<sup>\*</sup> | 2624  |
| 485 | Life360 Inc.<sup>\*</sup> | 25535  |
| 1543 | LiveRamp Holdings Inc.<sup>\*</sup> | 41923  |
| 307 | Manhattan Associates Inc.<sup>\*</sup> | 41577  |
| 571 | McGraw Hill Inc.<sup>\*</sup> | 7994  |
| 439 | MongoDB Inc., Class A Shares<sup>\*</sup> | 144198  |
| 409 | MSCI Inc., Class A Shares | 233878  |
| 1818 | N-able Inc.<sup>\*</sup> | 7999  |
| 881 | Navan Inc., Class A Shares<sup>\*</sup> | 8581  |
| 603 | nCino Inc.<sup>\*</sup> | 9732  |

---

See Notes to Financial Statements.

77<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **TECHNOLOGY – (continued)**  | **TECHNOLOGY – (continued)**  | **TECHNOLOGY – (continued)**  |
| **Software – (continued)**  | **Software – (continued)**  | **Software – (continued)**  |
| 1444 | Nutanix Inc., Class A Shares<sup>\*</sup> | $55276  |
| 104 | Nutex Health Inc.<sup>\*</sup> | 11488  |
| 224 | Omada Health Inc.<sup>\*</sup> | 2751  |
| 597 | ON24 Inc.<sup>\*</sup> | 4782  |
| 1204 | Pagaya Technologies Ltd., Class A Shares<sup>\*</sup> | 13473  |
| 1983 | PagerDuty Inc.<sup>\*</sup> | 14000  |
| 1758 | Paychex Inc.  | 164637  |
| 263 | Paycom Software Inc.  | 33093  |
| 792 | PDF Solutions Inc.<sup>\*</sup> | 26754  |
| 516 | Pegasystems Inc.  | 22565  |
| 1338 | Phreesia Inc.<sup>\*</sup> | 16498  |
| 139066 | Planet Labs PBC<sup>\*</sup> | 3357053  |
| 1550 | Playstudios Inc.<sup>\*</sup> | 791  |
| 1639 | Playtika Holding Corp.  | 5065  |
| 23519 | Porch Group Inc.<sup>\*</sup> | 193091  |
| 629 | Procore Technologies Inc.<sup>\*</sup> | 34620  |
| 1025 | Progress Software Corp.<sup>\*</sup> | 42927  |
| 637 | PTC Inc.<sup>\*</sup> | 99748  |
| 1007 | PubMatic Inc., Class A Shares<sup>\*</sup> | 8157  |
| 4752 | Quantum Computing Inc.<sup>\*(a)</sup> | 39964  |
| 1609 | Rackspace Technology Inc.<sup>\*(a)</sup> | 3138  |
| 255 | Red Violet Inc.<sup>\*</sup> | 11044  |
| 239 | ReposiTrak Inc.  | 2079  |
| 2926 | Rezolve AI PLC<sup>\*(a)</sup> | 6818  |
| 468 | RingCentral Inc., Class A Shares<sup>\*</sup> | 17059  |
| 3447 | ROBLOX Corp., Class A Shares<sup>\*</sup> | 236671  |
| 1735 | Samsara Inc., Class A Shares<sup>\*</sup> | 50142  |
| 1424 | Schrodinger Inc.<sup>\*</sup> | 17173  |
| 1253 | SEMrush Holdings Inc., Class A Shares<sup>\*</sup> | 14810  |
| 1645 | SentinelOne Inc., Class A Shares<sup>\*</sup> | 21582  |
| 375 | Simulations Plus Inc.<sup>\*</sup> | 4586  |
| 9198 | SoundHound AI Inc., Class A Shares<sup>\*(a)</sup> | 79103  |
| 1284 | Sprout Social Inc., Class A Shares<sup>\*</sup> | 8282  |
| 923 | SPS Commerce Inc.<sup>\*</sup> | 52159  |
| 1160 | SS&C Technologies Holdings Inc. | 87336  |
| 1013 | Take-Two Interactive Software Inc.<sup>\*</sup> | 214229  |
| 2774 | Talkspace Inc.<sup>\*</sup> | 13371  |
| 752 | Teads Holding Co.<sup>\*</sup> | 643  |
| 556 | Teradata Corp.<sup>\*</sup> | 17508  |
| 329 | TruBridge Inc.<sup>\*</sup> | 6346  |
| 776 | Twilio Inc., Class A Shares<sup>\*</sup> | 93865  |
| 236 | Tyler Technologies Inc.<sup>\*</sup> | 83707  |

---

See Notes to Financial Statements.

78<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **TECHNOLOGY – (continued)**  | **TECHNOLOGY – (continued)**  | **TECHNOLOGY – (continued)**  |
| **Software – (continued)**  | **Software – (continued)**  | **Software – (continued)**  |
| 2175 | UiPath Inc., Class A Shares<sup>\*</sup> | $23338  |
| 1769 | Unity Software Inc.<sup>\*</sup> | 32249  |
| 804 | Veeva Systems Inc., Class A Shares<sup>\*</sup> | 146336  |
| 1555 | Vertex Inc., Class A Shares<sup>\*</sup> | 22516  |
| 243 | Via Transportation Inc., Class A Shares<sup>\*</sup> | 4175  |
| 516 | Viant Technology Inc., Class A Shares<sup>\*</sup> | 5227  |
| 1766 | VTEX, Class A Shares<sup>\*</sup> | 6057  |
| 2660 | Waystar Holding Corp.<sup>\*</sup> | 68229  |
| 1739 | Weave Communications Inc.<sup>\*</sup> | 8765  |
| 4846 | WM Technology Inc.<sup>\*</sup> | 3240  |
| 1211 | Workiva Inc., Class A Shares<sup>\*</sup> | 74573  |
| 2641 | Yext Inc.<sup>\*(a)</sup> | 15001  |
| 4520 | Zeta Global Holdings Corp., Class A Shares<sup>\*</sup> | 76614  |
| 1489 | Zoom Communications Inc., Class A Shares<sup>\*</sup> | 110097  |
| 1693 | ZoomInfo Technologies Inc., Class A Shares<sup>\*</sup> | 10514  |
|  | Total Software | 13510631  |
|  | **TOTAL TECHNOLOGY** | **68083721**  |
| **UTILITIES – 3.3%**  | **UTILITIES – 3.3%**  | **UTILITIES – 3.3%**  |
| **Electric – 2.3%**  | **Electric – 2.3%**  | **Electric – 2.3%**  |
| 3591 | AES Corp.  | 62053  |
| 1409 | Alliant Energy Corp.  | 101927  |
| 1505 | Ameren Corp.  | 170486  |
| 9358 | Ameresco Inc., Class A Shares<sup>\*</sup> | 285045  |
| 2067 | Avista Corp.  | 83962  |
| 17607 | Black Hills Corp.  | 1296932  |
| 789 | Brookfield Renewable Corp.  | 33714  |
| 59640 | CenterPoint Energy Inc.  | 2594340  |
| 190 | Clearway Energy Inc., Class A Shares | 6844  |
| 456 | Clearway Energy Inc., Class C Shares | 17469  |
| 1604 | CMS Energy Corp.  | 125224  |
| 2014 | Consolidated Edison Inc.  | 226615  |
| 1156 | DTE Energy Co.  | 171365  |
| 2047 | Edison International | 152993  |
| 26482 | Entergy Corp.  | 2836487  |
| 1263 | Evergy Inc.  | 105663  |
| 2071 | Eversource Energy | 157831  |
| 5618 | Exelon Corp.  | 277922  |
| 3066 | FirstEnergy Corp.  | 156857  |
| 460 | Genie Energy Ltd., Class B Shares | 6684  |
| 4153 | Hawaiian Electric Industries Inc.<sup>\*</sup> | 64330  |
| 18992 | IDACORP Inc.  | 2734278  |
| 889 | MGE Energy Inc.  | 72916  |

---

See Notes to Financial Statements.

79<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **UTILITIES – (continued)**  | **UTILITIES – (continued)**  | **UTILITIES – (continued)**  |
| **Electric – (continued)**  | **Electric – (continued)**  | **Electric – (continued)**  |
| 1485 | Northwestern Energy Group Inc.  | $103891  |
| 1023 | NRG Energy Inc.  | 183076  |
| 1021 | OGE Energy Corp.  | 50172  |
| 2644 | Oklo Inc., Class A Shares<sup>\*</sup> | 166440  |
| 13657 | Ormat Technologies Inc.  | 1416231  |
| 927 | Otter Tail Corp.  | 78888  |
| 12186 | PG&E Corp.  | 231534  |
| 608 | Pinnacle West Capital Corp.  | 60982  |
| 29497 | Portland General Electric Co.  | 1591658  |
| 4127 | PPL Corp.  | 160870  |
| 2719 | Public Service Enterprise Group Inc.  | 234024  |
| 244 | Talen Energy Corp.<sup>\*</sup> | 90517  |
| 2322 | TXNM Energy Inc.  | 137044  |
| 408 | Unitil Corp.  | 21342  |
| 1880 | Vistra Corp.  | 326913  |
| 1810 | WEC Energy Group Inc.  | 211698  |
| 3289 | Xcel Energy Inc.  | 274171  |
|  | Total Electric | 17081388  |
| **Gas – 0.6%**  | **Gas – 0.6%**  | **Gas – 0.6%**  |
| 890 | Atmos Energy Corp.  | 166243  |
| 2841 | Brookfield Infrastructure Corp., Class A Shares | 141709  |
| 589 | Chesapeake Utilities Corp.  | 80086  |
| 1167 | MDU Resources Group Inc.  | 24133  |
| 453 | National Fuel Gas Co.  | 41237  |
| 2382 | New Jersey Resources Corp.  | 129200  |
| 53137 | NiSource Inc.  | 2513380  |
| 959 | Northwest Natural Holding Co.  | 50865  |
| 1489 | ONE Gas Inc.  | 130198  |
| 141 | RGC Resources Inc.  | 3110  |
| 1527 | Southwest Gas Holdings Inc.  | 134636  |
| 17252 | Spire Inc.  | 1580456  |
| 1192 | UGI Corp.  | 44593  |
|  | Total Gas | 5039846  |
| **Water – 0.4%**  | **Water – 0.4%**  | **Water – 0.4%**  |
| 930 | American States Water Co.  | 69313  |
| 19388 | American Water Works Co., Inc.  | 2637350  |
| 1436 | California Water Service Group | 64735  |
| 345 | Consolidated Water Co., Ltd. | 13058  |
| 1521 | Essential Utilities Inc.  | 60794  |
| 200 | Global Water Resources Inc.  | 1832  |
| 755 | H2O America | 40611  |

---

See Notes to Financial Statements.

80<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **UTILITIES – (continued)**  | **UTILITIES – (continued)**  | **UTILITIES – (continued)**  |
| **Water – (continued)**  | **Water – (continued)**  | **Water – (continued)**  |
| 455 | Middlesex Water Co.  | $24570  |
| 335 | York Water Co.  | 11015  |
|  | Total Water | 2923278  |
|  | **TOTAL UTILITIES** | **25044512**  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>**(Cost – $523,450,919)** | **701100590**  |
| **EXCHANGE TRADED FUNDS (ETFs) – 4.4%** | **EXCHANGE TRADED FUNDS (ETFs) – 4.4%** | **EXCHANGE TRADED FUNDS (ETFs) – 4.4%** |
| 3971 | iShares Russell 2000 Value | 784471  |
| 325923 | State Street SPDR S&P 600 Small Capital Value | 32021935  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL EXCHANGE TRADED FUNDS (ETFs)** <br>**(Cost – $31,303,685)** | **32806406**  |
| **LIMITED PARTNERSHIP – 0.0%**  | **LIMITED PARTNERSHIP – 0.0%**  | **LIMITED PARTNERSHIP – 0.0%**  |
| **FINANCIAL – 0.0%**  | **FINANCIAL – 0.0%**  | **FINANCIAL – 0.0%**  |
| **Investment Companies – 0.0%**  | **Investment Companies – 0.0%**  | **Investment Companies – 0.0%**  |
| 1739 | &nbsp;&nbsp;&nbsp; Compass Diversified Holdings <br>(Cost – $35,398) | 13025  |
| **CLOSED-END FUND – 0.0%**  | **CLOSED-END FUND – 0.0%**  | **CLOSED-END FUND – 0.0%**  |
| 680 | &nbsp;&nbsp;&nbsp; NexPoint Diversified Real Estate Trust, Class Common Shares <br>(Cost – $4,981) | 3026  |
| **WARRANT – 0.0%**  | **WARRANT – 0.0%**  | **WARRANT – 0.0%**  |
| **CONSUMER NON-CYCLICAL – 0.0%**  | **CONSUMER NON-CYCLICAL – 0.0%**  | **CONSUMER NON-CYCLICAL – 0.0%**  |
| **Healthcare-Products – 0.0%**  | **Healthcare-Products – 0.0%**  | **Healthcare-Products – 0.0%**  |
| 30 | &nbsp;&nbsp;&nbsp; Pulse Biosciences Inc.<sup>\*</sup> <br>(Cost – $0) | 232  |
| **RIGHT – 0.0%**  | **RIGHT – 0.0%**  | **RIGHT – 0.0%**  |
| 322 | &nbsp;&nbsp;&nbsp; Empire Petroleum Corp.<sup>\*(b)</sup><br>(Cost – $0) | 5  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS** <br>**(Cost – $554,794,983)** | **$733923284** |

---

See Notes to Financial Statements.

81<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount**<br>| **Security** | **Value** |
| **SHORT-TERM INVESTMENTS – 1.8%**  | **SHORT-TERM INVESTMENTS – 1.8%**  | **SHORT-TERM INVESTMENTS – 1.8%**  |
| **TIME DEPOSITS – 1.8%**  | **TIME DEPOSITS – 1.8%**  | **TIME DEPOSITS – 1.8%**  |
| $4759946 | Citibank - New York, 2.980% due 3/2/26 | $4759946  |
| 7105192 | JPMorgan Chase & Co. - New York, 2.980% due 3/2/26 | 7105192  |
| 1833650 | Royal Bank of Canada - Toronto, 2.980% due 3/2/26 | 1833650  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL TIME DEPOSITS** <br>**(Cost – $13,698,788)** | **13698788** |

---

---

| | | |
|:---|:---|:---|
| **Shares/Units** |  |  |
| **INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 0.8%**  | **INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 0.8%**  | **INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 0.8%**  |
| **MONEY MARKET FUND – 0.8%**  | **MONEY MARKET FUND – 0.8%**  | **MONEY MARKET FUND – 0.8%**  |
| 5692844 | &nbsp;&nbsp;&nbsp; Federated Government Obligations Fund, Premier Class, 3.593%<sup>(d)</sup><br>(Cost – $5,692,844) | 5692844  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS – 100.8%** <br>**(Cost – $574,186,615)** | **753314916**  |
|  | Liabilities in Excess of Other Assets – (0.8)% | (6211096)  |
|  | **TOTAL NET ASSETS – 100.0%** | **$747103820** |

---

<sup>\*</sup> Non-income producing security.

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

&nbsp;&nbsp;&nbsp;&nbsp;(b) Illiquid security. The aggregate value of illiquid
 holdings at February 28, 2026, amounts to $1,845,744 and represents 0.25% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Security is valued in good faith at fair value
 by or under the direction of the Board of Trustees using significant unobservable inputs.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Represents investment of collateral received from
 securities lending transactions.

<u>Abbreviations used in this schedule:</u>

ADR — American Depositary Receipts

MFA — Mortgage Finance Authority

PLC — Public Limited Company

REIT — Real Estate Investment Trust

SPDR — Standard & Poor's Depository Receipts

See Notes to Financial Statements.

82<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations Small-Mid Cap Equity Fund(concluded)** 

**<u>Summary of Investments by Security Sector^</u>** 

---

| | |
|:---|:---|
| Industrial | 22.0%  |
| Consumer Non-cyclical | 18.5  |
| Financial | 14.8  |
| Consumer Cyclical | 11.2  |
| Technology | 9.0  |
| Basic Materials | 5.6  |
| Energy | 5.0  |
| Communications | 3.6  |
| Utilities | 3.3  |
| Government | 0.0<sup>\*</sup>  |
| Exchange Traded Funds (ETFs) | 4.4  |
| Closed-End Fund | 0.0<sup>\*</sup>  |
| Right | 0.0<sup>\*</sup>  |
| Short-Term Investments | 1.8  |
| Money Market Fund | 0.8  |
|  | 100.0% |

---

---

| | |
|:---|:---|
| ^<br>| As a percentage of total investments.<br>|

---

<sup>\*</sup> Position represents less than 0.05%. 

At February 28, 2026, Destinations Small-Mid Cap Equity Fund had open exchange traded futures contracts as described below.

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Open Futures Contracts** | **Number of** <br>**Contracts** | **Expiration** <br>**Date (Month/Year)** | **Notional** <br>**Amounts** | **Market Value** | **Unrealized** <br>**Appreciation**  |
| **Contracts to Buy:**<br>|  |  |  |  |  |
| E-mini Russell 2000 Index March Futures | &nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26 | $1045460 | $1053880 | &nbsp;&nbsp; $8420  |
| S&P MidCap 400 Index March Futures | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26 | 679953 | 715580 | &nbsp;&nbsp; 35627  |
|  |  |  |  |  | &nbsp;&nbsp; $44047 |

---

At February 28, 2026, Destinations Small-Mid Cap Equity Fund had deposited cash of $76,103 with a broker or brokers as margin collateral on open exchange traded futures contracts.

See Notes to Financial Statements.

83<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – 91.2%**  | **COMMON STOCKS – 91.2%**  | **COMMON STOCKS – 91.2%**  |
| **Australia – 2.6%**  | **Australia – 2.6%**  | **Australia – 2.6%**  |
| 148779 | AGL Energy Ltd. | $1048517  |
| 8566 | ALS Ltd. | 155854  |
| 33522 | AMP Ltd. | 30904  |
| 4019 | Ampol Ltd. | 80644  |
| 1960 | Ansell Ltd. | 45340  |
| 458802 | ANZ Group Holdings Ltd. | 13074817  |
| 19985 | APA Group | 130626  |
| 9162 | Aristocrat Leisure Ltd. | 316221  |
| 3351 | ASX Ltd. | 126308  |
| 17818 | Atlas Arteria Ltd. | 60862  |
| 31108 | Aurizon Holdings Ltd. | 91918  |
| 9383 | Bank of Queensland Ltd. | 46714  |
| 16624 | Beach Energy Ltd. | 12928  |
| 9063 | Bendigo & Adelaide Bank Ltd. | 68963  |
| 79688 | BHP Group Ltd. | 3249380  |
| 6697 | BlueScope Steel Ltd. | 133016  |
| 22708 | Brambles Ltd. | 405099  |
| 6293 | CAR Group Ltd. | 118493  |
| 7593 | Challenger Ltd. | 48200  |
| 8219 | Charter Hall Group | 128921  |
| 43174 | Charter Hall Retail REIT<sup>\*</sup> | 124427  |
| 36818 | Cleanaway Waste Management Ltd. | 66779  |
| 1027 | Cochlear Ltd. | 145231  |
| 22544 | Coles Group Ltd. | 329705  |
| 27262 | Commonwealth Bank of Australia | 3392724  |
| 8504 | Computershare Ltd. | 187383  |
| 7859 | CSL Ltd. | 820721  |
| 6567 | Deterra Royalties Ltd. | 20166  |
| 19148 | Dexus | 91554  |
| 1601 | Domino's Pizza Enterprises Ltd. | 23249  |
| 9664 | Downer EDI Ltd. | 58991  |
| 33245 | Dyno Nobel Ltd. | 78446  |
| 2674 | EBOS Group Ltd. | 38496  |
| 22901 | Endeavour Group Ltd. | 63704  |
| 34072 | Evolution Mining Ltd. | 400592  |
| 3188 | Flight Centre Travel Group Ltd. | 29509  |
| 26676 | Fortescue Ltd. | 400868  |
| 32829 | Goodman Group | 674679  |
| 29829 | GPT Group | 107387  |
| 9902 | Harvey Norman Holdings Ltd. | 40540  |
| 983 | HUB24 Ltd. | 68271  |
| 12879 | IGO Ltd.<sup>\*</sup> | 79000  |
| 5462 | Iluka Resources Ltd. | 26170  |
| 4882 | Insignia Financial Ltd.<sup>\*</sup> | 16218  |

---

See Notes to Financial Statements.

84<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Australia – (continued)**  | **Australia – (continued)**  | **Australia – (continued)**  |
| 37548 | Insurance Australia Group Ltd. | $177947  |
| 1654 | JB Hi-Fi Ltd. | 97243  |
| 14290 | Lendlease Corp., Ltd. | 42644  |
| 34638 | Lottery Corp., Ltd | 135696  |
| 16571 | Lynas Rare Earths Ltd.<sup>\*</sup> | 219402  |
| 5541 | Macquarie Group Ltd. | 840051  |
| 3449 | Magellan Financial Group Ltd. | 20624  |
| 45011 | Medibank Pvt Ltd. | 140117  |
| 21111 | Metcash Ltd. | 49454  |
| 2507 | Mineral Resources Ltd.<sup>\*</sup> | 109045  |
| 71491 | Mirvac Group | 104336  |
| 67200 | MMG Ltd.<sup>\*</sup> | 93690  |
| 49847 | National Australia Bank Ltd. | 1737502  |
| 1941 | Netwealth Group Ltd. | 35524  |
| 5455 | New Hope Corp., Ltd | 18177  |
| 11013 | NEXTDC Ltd.<sup>\*</sup> | 107601  |
| 487279 | Northern Star Resources Ltd. | 10484842  |
| 74199 | NRW Holdings Ltd. | 345312  |
| 8723 | Orica Ltd. | 151887  |
| 27745 | Origin Energy Ltd. | 239788  |
| 20515 | Orora Ltd. | 31347  |
| 546438 | Perenti Ltd. | 918265  |
| 1441 | Perpetual Ltd. | 18981  |
| 44102 | PLS Group Ltd.<sup>\*</sup> | 162477  |
| 869 | Pro Medicus Ltd. | 80219  |
| 11642 | Qantas Airways Ltd. | 82354  |
| 24628 | QBE Insurance Group Ltd. | 384441  |
| 25075 | Qube Holdings Ltd. | 89296  |
| 2908 | Ramsay Health Care Ltd. | 89374  |
| 783 | REA Group Ltd. | 92451  |
| 4543 | Reece Ltd. | 50539  |
| 18711 | Region Group | 30756  |
| 601542 | Regis Resources Ltd. | 4032035  |
| 6065 | Rio Tinto Ltd. | 720396  |
| 52629 | Santos Ltd. | 253911  |
| 83204 | Scentre Group | 226388  |
| 6293 | SEEK Ltd. | 74139  |
| 3031 | SGH Ltd. | 100587  |
| 65607 | Sigma Healthcare Ltd. | 132490  |
| 2325 | Sims Ltd. | 36398  |
| 7194 | Sonic Healthcare Ltd. | 122337  |
| 68973 | South32 Ltd. | 227296  |
| 18415 | Steadfast Group Ltd. | 57646  |

---

See Notes to Financial Statements.

85<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Australia – (continued)**  | **Australia – (continued)**  | **Australia – (continued)**  |
| 38074 | Stockland | $138386  |
| 17801 | Suncorp Group Ltd. | 185227  |
| 5243 | Technology One Ltd. | 95774  |
| 4144 | Telix Pharmaceuticals Ltd.<sup>\*</sup> | 29578  |
| 67116 | Telstra Group Ltd. | 247465  |
| 5739 | TPG Telecom Ltd. | 16085  |
| 51864 | Transurban Group | 528958  |
| 11246 | Treasury Wine Estates Ltd. | 36295  |
| 118925 | Vault Minerals Ltd.<sup>\*</sup> | 496333  |
| 69356 | Vicinity Ltd. | 120857  |
| 4069 | Washington H Soul Pattinson & Co., Ltd. | 110609  |
| 18344 | Wesfarmers Ltd. | 1037803  |
| 55816 | Westpac Banking Corp. | 1688463  |
| 14521 | Whitehaven Coal Ltd. | 80568  |
| 3064 | WiseTech Global Ltd. | 103345  |
| 31509 | Woodside Energy Group Ltd. | 641947  |
| 19649 | Woolworths Group Ltd. | 502874  |
| 8374 | Worley Ltd. | 67488  |
| 5571 | Yancoal Australia Ltd. | 23209  |
|  | Total Australia | 55974804  |
| **Austria – 0.1%**  | **Austria – 0.1%**  | **Austria – 0.1%**  |
| 980 | ANDRITZ AG | 85220  |
| 1278 | BAWAG Group AG<sup>\*(a)</sup> | 199492  |
| 4668 | Erste Group Bank AG | 555772  |
| 2255 | OMV AG | 146091  |
| 2035 | Raiffeisen Bank International AG | 101553  |
| 217 | Strabag SE | 24420  |
| 783 | Telekom Austria AG, Class A Shares | 8825  |
| 1154 | Verbund AG | 82297  |
|  | Total Austria | 1203670  |
| **Belgium – 0.2%**  | **Belgium – 0.2%**  | **Belgium – 0.2%**  |
| 392 | Ackermans & van Haaren NV | 135097  |
| 3199 | Aedifica SA | 297292  |
| 2834 | Ageas SA | 210559  |
| 15353 | Anheuser-Busch InBev SA | 1245868  |
| 363 | D'ieteren Group | 78500  |
| 798 | Elia Group SA, Class B Shares | 127144  |
| 1170 | Groupe Bruxelles Lambert NV | 117630  |
| 3717 | KBC Group NV | 501707  |
| 7 | Lotus Bakeries NV | 86571  |
| 77468 | Proximus SADP | 640125  |
| 251 | Sofina SA | 74724  |
| 1276 | Syensqo SA | 73055  |

---

See Notes to Financial Statements.

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Belgium – (continued)**  | **Belgium – (continued)**  | **Belgium – (continued)**  |
| 1973 | UCB SA | $587891  |
| 3154 | Warehouses De Pauw CVA | 96989  |
|  | Total Belgium | 4273152  |
| **Bermuda – 0.1%**  | **Bermuda – 0.1%**  | **Bermuda – 0.1%**  |
| 35959 | Conduit Holdings Ltd.<sup>\*</sup> | 210559  |
| 103641 | Hiscox Ltd. | 2155999  |
|  | Total Bermuda | 2366558  |
| **Brazil – 0.9%**  | **Brazil – 0.9%**  | **Brazil – 0.9%**  |
| 42620 | Afya Ltd., Class A Shares | 579632  |
| 532494 | Banco Bradesco SA, ADR | 2177901  |
| 224247 | Banco BTG Pactual SA | 2679339  |
| 171600 | Banco do Estado do Rio Grande do Sul SA, Class B Shares | 621852  |
| 544631 | GPS Participacoes e Empreendimentos SA<sup>(a)</sup> | 1955601  |
| 58364 | Inter & Co., Inc. | 504167  |
| 304589 | Localiza Rent a Car SA | 3011340  |
| 237829 | Metalurgica Gerdau SA | 433247  |
| 133231 | NU Holdings Ltd., Class A Shares<sup>\*</sup> | 1995800  |
| 251000 | Odontoprev SA | 716702  |
| 104581 | Petroleo Brasileiro SA - Petrobras, Class A Shares, ADR | 1610547  |
| 147227 | XP Inc., Class A Shares | 3169797  |
|  | Total Brazil | 19455925  |
| **Canada – 6.6%**  | **Canada – 6.6%**  | **Canada – 6.6%**  |
| 257208 | AGF Management Ltd., Class B Shares | 3868583  |
| 41111 | Agnico Eagle Mines Ltd. | 10324607  |
| 59200 | Air Canada<sup>\*</sup> | 895181  |
| 6504 | Alamos Gold Inc., Class A Shares | 352445  |
| 12673 | Alimentation Couche-Tard Inc. | 768945  |
| 4800 | AltaGas Ltd. | 163108  |
| 8500 | ARC Resources Ltd. | 157627  |
| 2600 | AtkinsRealis Group Inc. | 180188  |
| 11912 | Bank of Montreal | 1714025  |
| 129723 | Bank of Nova Scotia | 9839285  |
| 148110 | Barrick Mining Corp. | 7513518  |
| 5385 | BCE Inc. | 141503  |
| 9500 | Boardwalk Real Estate Investment Trust | 455398  |
| 1400 | Bombardier Inc., Class B Shares<sup>\*</sup> | 289266  |
| 34951 | Brookfield Corp. | 1532485  |
| 4800 | CAE Inc.<sup>\*</sup> | 142315  |
| 7167 | Cameco Corp. | 847768  |
| 28400 | Canadian Apartment Properties REIT | 785616  |
| 15505 | Canadian Imperial Bank of Commerce | 1565956  |
| 53995 | Canadian National Railway Co. | 6057761  |
| 34194 | Canadian Natural Resources Ltd. | 1495533  |

---

See Notes to Financial Statements.

87<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Canada – (continued)**  | **Canada – (continued)**  | **Canada – (continued)**  |
| 14732 | Canadian Pacific Kansas City Ltd. | $1289738  |
| 600 | Canadian Tire Corp., Ltd, Class A Shares | 84144  |
| 3879 | Celestica Inc.<sup>\*</sup> | 1076954  |
| 20862 | Cenovus Energy Inc. | 464704  |
| 160200 | Centerra Gold Inc. | 3366513  |
| 3333 | CGI Inc., Class A Shares | 243715  |
| 13100 | Cogeco Communications Inc. | 694800  |
| 327 | Constellation Software Inc. | 604160  |
| 37239 | Definity Financial Corp. | 1863724  |
| 25783 | Descartes Systems Group Inc.<sup>\*</sup> | 1707979  |
| 4409 | Dollarama Inc. | 648989  |
| 124676 | Element Fleet Management Corp. | 2969085  |
| 4900 | Emera Inc. | 254895  |
| 36009 | Enbridge Inc. | 1912755  |
| 37400 | Extendicare Inc. | 728646  |
| 363 | Fairfax Financial Holdings Ltd.<sup>(b)</sup> | 624667  |
| 57849 | Finning International Inc. | 3899285  |
| 10800 | First Quantum Minerals Ltd.<sup>\*</sup> | 323296  |
| 500 | FirstService Corp. | 78773  |
| 8319 | Fortis Inc. | 478481  |
| 159100 | Fortuna Mining Corp.<sup>\*</sup> | 2173733  |
| 57499 | Franco-Nevada Corp. | 16067521  |
| 2601 | George Weston Ltd. | 190876  |
| 4000 | GFL Environmental Inc. | 176735  |
| 3000 | Gildan Activewear Inc., Class A Shares | 204435  |
| 4315 | Great-West Lifeco Inc. | 208428  |
| 5102 | Hydro One Ltd.<sup>(a)</sup> | 219218  |
| 1500 | iA Financial Corp. Inc. | 170560  |
| 2500 | Imperial Oil Ltd. | 292366  |
| 2984 | Intact Financial Corp. | 576000  |
| 11200 | Ivanhoe Mines Ltd., Class A Shares<sup>\*</sup> | 128066  |
| 2800 | Keyera Corp. | 106845  |
| 45400 | Killam Apartment Real Estate Investment Trust | 562384  |
| 19800 | Kinross Gold Corp. | 731742  |
| 13800 | Linamar Corp. | 950918  |
| 9504 | Loblaw Cos., Ltd. | 440404  |
| 1600 | Lundin Gold Inc. | 150782  |
| 10100 | Lundin Mining Corp. | 321737  |
| 4625 | Magna International Inc. | 291575  |
| 28624 | Manulife Financial Corp. | 1019034  |
| 3165 | Metro Inc. | 225468  |
| 6506 | National Bank of Canada | 907826  |
| 8158 | Nutrien Ltd. | 613450  |

---

See Notes to Financial Statements.

88<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Canada – (continued)**  | **Canada – (continued)**  | **Canada – (continued)**  |
| 96700 | OceanaGold Corp. | $4111681  |
| 3500 | Open Text Corp. | 86686  |
| 6600 | Pan American Silver Corp. | 452707  |
| 9627 | Pembina Pipeline Corp. | 423029  |
| 8787 | Power Corp. of Canada | 441314  |
| 34400 | RioCan Real Estate Investment Trust | 497480  |
| 23358 | Royal Bank of Canada | 3904756  |
| 32424 | Russel Metals Inc. | 1141720  |
| 4000 | Saputo Inc. | 127655  |
| 41984 | Shopify Inc., Class A Shares<sup>\*</sup> | 5068122  |
| 1700 | Stantec Inc. | 157377  |
| 9476 | Sun Life Financial Inc. | 620944  |
| 190311 | Suncor Energy Inc.<sup>(c)</sup> | 10749113  |
| 17157 | TC Energy Corp. | 1102258  |
| 22622 | Teck Resources Ltd., Class B Shares | 1328336  |
| 8581 | TELUS Corp. | 117617  |
| 1100 | TFI International Inc. | 131399  |
| 2254 | Thomson Reuters Corp. | 216974  |
| 34159 | TMX Group Ltd. | 1151987  |
| 27780 | Toronto-Dominion Bank | 2705715  |
| 5839 | Tourmaline Oil Corp. | 274082  |
| 4256 | Waste Connections Inc. | 732252  |
| 60782 | Wheaton Precious Metals Corp. | 9902525  |
| 15900 | Whitecap Resources Inc. | 158732  |
| 2100 | WSP Global Inc. | 355675  |
|  | Total Canada | 145096655  |
| **Chile – 0.1%**  | **Chile – 0.1%**  | **Chile – 0.1%**  |
| 5858 | Antofagasta PLC | 338783  |
| 28924 | Sociedad Quimica y Minera de Chile SA, ADR<sup>\*</sup> | 2206901  |
|  | Total Chile | 2545684  |
| **China – 2.7%**  | **China – 2.7%**  | **China – 2.7%**  |
| 13500 | AAC Technologies Holdings Inc. | 64224  |
| 223948 | BYD Co., Ltd., Class H Shares<sup>(d)</sup> | 2702358  |
| 1008079 | China Mengniu Dairy Co., Ltd. | 2090706  |
| 45225 | Contemporary Amperex Technology Co., Ltd., Class A Shares | 2252518  |
| 255982 | FinVolution Group, ADR | 1438619  |
| 750000 | Fufeng Group Ltd. | 779229  |
| 245186 | Full Truck Alliance Co., Ltd., ADR | 2299845  |
| 196589 | Fuyao Glass Industry Group Co., Ltd., Class A Shares | 1730131  |
| 66406 | GDS Holdings Ltd., ADR<sup>\*(c)</sup> | 2743232  |
| 270160 | Hongfa Technology Co., Ltd., Class A Shares | 1227036  |
| 135618 | Jiangsu Hengli Hydraulic Co., Ltd., Class A Shares | 2228568  |
| 82878 | KE Holdings Inc., ADR | 1363343  |

---

See Notes to Financial Statements.

89<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **China – (continued)**  | **China – (continued)**  | **China – (continued)**  |
| 1358448 | Kingdee International Software Group Co., Ltd.<sup>\*</sup> | $1756247  |
| 289272 | Kuaishou Technology, Class B Shares<sup>(a)</sup> | 2315293  |
| 122000 | Lenovo Group Ltd. | 152169  |
| 28865 | Montage Technology Co., Ltd., Class A Shares | 685944  |
| 39143 | Montage Technology Co., Ltd., Class H Shares<sup>\*(d)</sup> | 896601  |
| 110855 | Pony AI Inc., ADR<sup>\*</sup> | 1589661  |
| 320100 | Sany Heavy Industry Co., Ltd., Class A Shares | 1079347  |
| 54800 | Sany Heavy Industry Co., Ltd., Class H Shares<sup>\*(d)</sup> | 176099  |
| 186826 | SF Holding Co., Ltd., Class H Shares<sup>(d)</sup> | 861359  |
| 183000 | Shenzhen Inovance Technology Co., Ltd., Class A Shares | 1942629  |
| 267700 | Shenzhou International Group Holdings Ltd. | 2160588  |
| 148989 | Tencent Holdings Ltd. | 9796542  |
| 20848 | Tencent Holdings Ltd., ADR | 1369714  |
| 98178 | Tencent Music Entertainment Group, ADR | 1433399  |
| 534400 | Tongcheng Travel Holdings Ltd.<sup>@</sup> | 1409277  |
| 136145 | Weibo Corp., ADR | 1351920  |
| 109505 | WuXi AppTec Co., Ltd., Class A Shares | 1561431  |
| 200864 | Wuxi Biologics Cayman Inc.<sup>\*(a)</sup> | 1028008  |
| 48000 | XD Inc. | 455823  |
| 739900 | Yangzijiang Shipbuilding Holdings Ltd. | 2529585  |
| 78522 | Zai Lab Ltd., ADR<sup>\*</sup> | 1509193  |
| 341378 | Zhejiang Sanhua Intelligent Controls Co., Ltd., Class H Shares<sup>(c)(d)</sup> | 1472268  |
| 253078 | Zhejiang Shuanghuan Driveline Co., Ltd., Class A Shares | 1526015  |
|  | Total China | 59978921  |
| **Czech Republic – 0.0%**  | **Czech Republic – 0.0%**  | **Czech Republic – 0.0%**  |
| 2165 | CSG NV<sup>\*</sup> | 81426  |
| **Denmark – 1.3%**  | **Denmark – 1.3%**  | **Denmark – 1.3%**  |
| 47 | AP Moller - Maersk AS, Class A Shares | 115162  |
| 64 | AP Moller - Maersk AS, Class B Shares | 158582  |
| 68165 | Carlsberg AS, Class B Shares | 10569625  |
| 31915 | Coloplast AS, Class B Shares | 2478683  |
| 15891 | D/S Norden AS | 712609  |
| 10673 | Danske Bank AS | 557313  |
| 1470 | Demant AS<sup>\*</sup> | 45982  |
| 3150 | DSV AS | 815554  |
| 1009 | Genmab AS<sup>\*</sup> | 296365  |
| 4982 | H Lundbeck AS | 30513  |
| 19840 | ISS AS | 707449  |
| 54627 | Novo Nordisk AS, ADR | 2045781  |
| 51681 | Novo Nordisk AS, Class B Shares | 1933034  |
| 14690 | Novonesis Novozymes B | 870907  |
| 8152 | Orsted AS<sup>\*(a)</sup> | 191833  |
| 1260 | Pandora AS | 99761  |

---

See Notes to Financial Statements.

90<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Denmark – (continued)**  | **Denmark – (continued)**  | **Denmark – (continued)**  |
| 1255 | ROCKWOOL AS, Class B Shares | $41329  |
| 5034 | Tryg AS | 124381  |
| 261676 | Vestas Wind Systems AS | 6662728  |
|  | Total Denmark | 28457591  |
| **Finland – 1.8%**  | **Finland – 1.8%**  | **Finland – 1.8%**  |
| 2273 | Elisa OYJ | 116658  |
| 423936 | Fortum OYJ | 9834109  |
| 4770 | Kesko OYJ, Class B Shares | 117559  |
| 5175 | Kone OYJ, Class B Shares | 391324  |
| 11788 | Metso OYJ | 246852  |
| 7223 | Neste OYJ | 180941  |
| 1207533 | Nokia OYJ | 9259853  |
| 460692 | Nordea Bank Abp | 8935750  |
| 1673 | Orion OYJ, Class B Shares | 134299  |
| 38780 | Sampo OYJ, Class A Shares | 429079  |
| 697716 | Stora Enso OYJ, Class R Shares | 9480176  |
| 8287 | UPM-Kymmene OYJ | 264634  |
| 2318 | Valmet OYJ | 77514  |
| 7483 | Wartsila OYJ Abp | 322982  |
|  | Total Finland | 39791730  |
| **France – 6.2%**  | **France – 6.2%**  | **France – 6.2%**  |
| 3603 | Accor SA | 209866  |
| 645 | Aeroports de Paris SA | 90563  |
| 9306 | Air Liquide SA | 1947923  |
| 24278 | Airbus SE | 5267180  |
| 5244 | Alstom SA<sup>\*</sup> | 175149  |
| 948 | Amundi SA<sup>(a)</sup> | 90217  |
| 90676 | Arkema SA | 6605163  |
| 50446 | AXA SA | 2469976  |
| 3273 | Ayvens SA<sup>(a)</sup> | 41797  |
| 737 | BioMerieux | 87309  |
| 126291 | BNP Paribas SA | 14146541  |
| 9638 | Bollore SE | 56203  |
| 2913 | Bouygues SA | 180831  |
| 5255 | Bureau Veritas SA | 183169  |
| 2553 | Capgemini SE | 322449  |
| 8991 | Carrefour SA | 170134  |
| 51858 | Compania de Saint-Gobain SA | 5318951  |
| 10542 | Compania Generale des Etablissements Michelin SCA | 428154  |
| 939 | Covivio SA | 68930  |
| 15468 | Credit Agricole SA | 342843  |
| 10450 | Danone SA | 895014  |
| 7664 | Dassault Aviation SA | 3064411  |

---

See Notes to Financial Statements.

91<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **France – (continued)**  | **France – (continued)**  | **France – (continued)**  |
| 148969 | Dassault Systemes SE | $3267800  |
| 4083 | Edenred SE | 93905  |
| 1127 | Eiffage SA | 193996  |
| 29157 | Engie SA | 997051  |
| 15863 | EssilorLuxottica SA | 4222002  |
| 786 | Eurazeo SE | 45955  |
| 1690 | FDJ UNITED | 51099  |
| 926 | Gecina SA | 85616  |
| 5280 | Getlink SE | 114894  |
| 1409 | Hermes International SCA | 3372531  |
| 610 | Ipsen SA | 118989  |
| 1114 | Kering SA | 374046  |
| 3239 | Klepierre SA | 136328  |
| 71223 | Legrand SA | 12848676  |
| 3734 | L'Oreal SA | 1746730  |
| 4149 | LVMH Moet Hennessy Louis Vuitton SE | 2639660  |
| 34508 | Orange SA | 739851  |
| 31846 | Pernod Ricard SA | 2943474  |
| 3806 | Publicis Groupe SA | 339349  |
| 2966 | Renault SA | 111545  |
| 13740 | Rexel SA | 596106  |
| 16434 | Safran SA | 6596900  |
| 17437 | Sanofi SA | 1693524  |
| 12679 | Sartorius Stedim Biotech | 2759090  |
| 41274 | Schneider Electric SE | 13368510  |
| 295532 | SCOR SE | 10795456  |
| 507 | SEB SA | 30907  |
| 11885 | Societe Generale SA | 1029905  |
| 1445 | Sodexo SA | 79244  |
| 1787 | SPIE SA | 111357  |
| 864 | Teleperformance SE | 51926  |
| 24489 | Thales SA | 7371280  |
| 158460 | TotalEnergies SE | 12669833  |
| 1599 | Unibail-Rodamco-Westfield | 200403  |
| 9957 | Veolia Environnement SA | 422077  |
| 8239 | Vinci SA | 1368505  |
| 379 | Wendel SE | 39489  |
|  | Total France | 135790782  |
| **Germany – 5.3%**  | **Germany – 5.3%**  | **Germany – 5.3%**  |
| 2744 | adidas AG | 512663  |
| 6275 | Allianz SE, Class Registered Shares | 2833245  |
| 175872 | Aumovio SE<sup>\*</sup> | 8793305  |
| 14713 | BASF SE | 846378  |

---

See Notes to Financial Statements.

92<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Germany – (continued)**  | **Germany – (continued)**  | **Germany – (continued)**  |
| 16229 | Bayer AG, Class Registered Shares | $805474  |
| 5614 | Bayerische Motoren Werke AG | 592563  |
| 1239 | Bechtle AG | 50044  |
| 19546 | Beiersdorf AG | 2486085  |
| 1943 | Brenntag SE | 120006  |
| 527 | Carl Zeiss Meditec AG | 16862  |
| 11008 | Commerzbank AG | 450441  |
| 83984 | Continental AG | 7261672  |
| 907 | CTS Eventim AG & Co. KGaA | 73609  |
| 8229 | Daimler Truck Holding AG | 418809  |
| 3870 | Delivery Hero SE, Class A Shares<sup>\*(a)</sup> | 89847  |
| 29152 | Deutsche Bank AG, Class Registered Shares | 1043076  |
| 30230 | Deutsche Boerse AG | 8299248  |
| 10030 | Deutsche Lufthansa AG, Class Registered Shares | 107677  |
| 113012 | Deutsche Post AG | 6697140  |
| 115763 | Deutsche Telekom AG, Class Registered Shares | 4658497  |
| 1070 | Deutsche Wohnen SE | 30006  |
| 556 | DWS Group GmbH & Co. KGaA<sup>(a)</sup> | 39430  |
| 36471 | E.ON SE | 847827  |
| 3067 | Evonik Industries AG | 53630  |
| 460 | Fielmann Group AG | 25128  |
| 79985 | Fraport AG Frankfurt Airport Services Worldwide<sup>\*</sup> | 7867005  |
| 3441 | Fresenius Medical Care AG | 160437  |
| 6976 | Fresenius SE & Co. KGaA | 419578  |
| 1739 | FUCHS SE | 71028  |
| 2397 | GEA Group AG | 186672  |
| 987 | Hannover Rueck SE | 300588  |
| 2072 | Heidelberg Materials AG | 463921  |
| 1611 | Henkel AG & Co. KGaA | 146109  |
| 2577 | Henkel AG & Co. KGaA | 253281  |
| 947 | Hensoldt AG | 83219  |
| 300 | HOCHTIEF AG | 146189  |
| 223405 | Infineon Technologies AG | 12089122  |
| 1041 | KION Group AG | 71171  |
| 13379 | Knorr-Bremse AG | 1762537  |
| 1314 | LEG Immobilien SE | 109917  |
| 12103 | Mercedes-Benz Group AG | 843663  |
| 2115 | Merck KGaA | 320694  |
| 884 | MTU Aero Engines AG | 381524  |
| 2127 | Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Class Registered Shares | 1395865  |
| 994 | Nemetschek SE | 79632  |
| 86 | Rational AG | 74777  |

---

See Notes to Financial Statements.

93<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Germany – (continued)**  | **Germany – (continued)**  | **Germany – (continued)**  |
| 1117 | RENK Group AG | $75081  |
| 733 | Rheinmetall AG | 1440349  |
| 10934 | RWE AG | 704424  |
| 60443 | SAP SE | 12202384  |
| 53754 | Schott Pharma AG & Co. KGaA | 936938  |
| 1124 | Scout24 SE<sup>(a)</sup> | 96108  |
| 21625 | Siemens AG, Class Registered Shares | 6320325  |
| 27432 | Siemens Energy AG | 5391837  |
| 63141 | Siemens Healthineers AG<sup>(a)</sup> | 3132239  |
| 63551 | Symrise AG, Class A Shares | 5824601  |
| 1067 | Talanx AG | 134851  |
| 959 | Traton SE | 40872  |
| 309855 | TUI AG | 2958465  |
| 3842 | Volkswagen AG | 459610  |
| 11549 | Vonovia SE | 391465  |
| 3666 | Zalando SE<sup>\*(a)</sup> | 89689  |
|  | Total Germany | 114578829  |
| **Greece – 0.3%**  | **Greece – 0.3%**  | **Greece – 0.3%**  |
| 1146 | Metlen Energy & Metals PLC<sup>\*</sup> | 48111  |
| 26416 | Motor Oil Hellas Corinth Refineries SA | 1120615  |
| 181278 | National Bank of Greece SA | 2963102  |
| 262199 | Piraeus Bank SA<sup>\*</sup> | 2525000  |
|  | Total Greece | 6656828  |
| **Hong Kong – 1.9%**  | **Hong Kong – 1.9%**  | **Hong Kong – 1.9%**  |
| 1063985 | AIA Group Ltd. | 11768309  |
| 59420 | Alibaba Group Holding Ltd., ADR | 8563016  |
| 13055 | Bank of East Asia Ltd. | 25306  |
| 58500 | BOC Hong Kong Holdings Ltd. | 335291  |
| 37100 | Budweiser Brewing Co. APAC Ltd.<sup>(a)</sup> | 36913  |
| 10000 | Cathay Pacific Airways Ltd. | 17961  |
| 27400 | Chow Tai Fook Jewellery Group Ltd. | 45887  |
| 28500 | CK Asset Holdings Ltd. | 181123  |
| 1006120 | CK Hutchison Holdings Ltd. | 8303373  |
| 10500 | CK Infrastructure Holdings Ltd. | 89140  |
| 26658 | CLP Holdings Ltd. | 252566  |
| 19800 | CTF Services Ltd. | 22616  |
| 7500 | DFI Retail Group Holdings Ltd., Class Registered Shares | 31419  |
| 50000 | First Pacific Co., Ltd. | 40393  |
| 37000 | Galaxy Entertainment Group Ltd. | 197198  |
| 15000 | Hang Lung Group Ltd. | 32202  |
| 20185 | Hang Lung Properties Ltd. | 26465  |
| 18000 | Henderson Land Development Co., Ltd. | 81414  |
| 188000 | Hong Kong & China Gas Co., Ltd. | 182752  |

---

See Notes to Financial Statements.

94<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Hong Kong – (continued)**  | **Hong Kong – (continued)**  | **Hong Kong – (continued)**  |
| 19700 | Hong Kong Exchanges & Clearing Ltd. | $1052771  |
| 16200 | Hongkong Land Holdings Ltd. | 140435  |
| 133300 | Hutchison Port Holdings Trust, Class U Shares | 30015  |
| 8000 | HUTCHMED China Ltd.<sup>\*</sup> | 23176  |
| 281000 | Hysan Development Co., Ltd. | 786284  |
| 3100 | Jardine Matheson Holdings Ltd. | 255389  |
| 7500 | Johnson Electric Holdings Ltd. | 29674  |
| 12000 | Kerry Properties Ltd. | 38631  |
| 41710 | Link REIT | 207328  |
| 28400 | Man Wah Holdings Ltd. | 18495  |
| 26500 | MTR Corp., Ltd | 126390  |
| 24000 | New World Development Co., Ltd.<sup>\*</sup> | 33285  |
| 2500 | Orient Overseas International Ltd. | 47744  |
| 63000 | PCCW Ltd. | 47836  |
| 21000 | Power Assets Holdings Ltd. | 170314  |
| 41766 | Prudential PLC | 635734  |
| 34000 | Shangri-La Asia Ltd. | 22168  |
| 48000 | Sino Land Co., Ltd. | 78648  |
| 21000 | SITC International Holdings Co., Ltd. | 89940  |
| 73000 | SJM Holdings Ltd.<sup>\*</sup> | 22469  |
| 23000 | Sun Hung Kai Properties Ltd. | 431304  |
| 6500 | Swire Pacific Ltd., Class A Shares | 69860  |
| 14600 | Swire Properties Ltd. | 50356  |
| 1746000 | TCL Electronics Holdings Ltd. | 2749287  |
| 23000 | Techtronic Industries Co., Ltd. | 372823  |
| 136000 | United Energy Group Ltd. | 11372  |
| 2378000 | VSTECS Holdings Ltd. | 2430329  |
| 3600 | VTech Holdings Ltd. | 29682  |
| 119000 | WH Group Ltd.<sup>(a)</sup> | 150019  |
| 13000 | Wharf Holdings Ltd. | 42935  |
| 28000 | Wharf Real Estate Investment Co., Ltd. | 103335  |
| 27658 | Xinyi Glass Holdings Ltd. | 36643  |
| 17500 | Yue Yuen Industrial Holdings Ltd. | 41627  |
|  | Total Hong Kong | 40609642  |
| **India – 3.3%**  | **India – 3.3%**  | **India – 3.3%**  |
| 167977 | Axis Bank Ltd. | 2563859  |
| 408382 | Bajaj Finance Ltd. | 4481626  |
| 419801 | Bharat Electronics Ltd. | 2056225  |
| 281782 | Bharti Airtel Ltd.<sup>(e)</sup> | 5646222  |
| 59683 | Cholamandalam Investment & Finance Co., Ltd. | 1138343  |
| 37453 | Cummins India Ltd. | 2020108  |
| 251334 | DCW Ltd. | 131498  |
| 11099 | Dixon Technologies India Ltd. | 1287324  |

---

See Notes to Financial Statements.

95<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **India – (continued)**  | **India – (continued)**  | **India – (continued)**  |
| 36564 | Dr Lal PathLabs Ltd. | $562386  |
| 1284187 | Eternal Ltd.<sup>\*</sup> | 3484613  |
| 54078 | Godrej Properties Ltd.<sup>\*</sup> | 1025383  |
| 88479 | HDFC Bank Ltd. | 864784  |
| 167900 | ICICI Bank Ltd. | 2548229  |
| 41224 | InterGlobe Aviation Ltd.<sup>(a)</sup> | 2197088  |
| 184248 | Jio Financial Services Ltd. | 518656  |
| 1195520 | JM Financial Ltd. | 1686956  |
| 205212 | JSW Energy Ltd. | 1094273  |
| 25226 | Kaynes Technology India Ltd.<sup>\*</sup> | 1073504  |
| 55501 | Kirloskar Oil Engines Ltd. | 852984  |
| 767910 | Kotak Mahindra Bank Ltd. | 3499867  |
| 41320 | Kwality Wall's India Ltd.<sup>\*</sup> | 11863  |
| 40429 | Larsen & Toubro Ltd. | 1906129  |
| 15063 | LG Electronics India Ltd.<sup>\*</sup> | 262951  |
| 111802 | LIC Housing Finance Ltd. | 668072  |
| 28669 | Mahindra & Mahindra Ltd. | 1071957  |
| 222255 | Max Healthcare Institute Ltd. | 2670437  |
| 985676 | National Aluminium Co., Ltd. | 3858262  |
| 209035 | Nippon Life India Asset Management Ltd.<sup>(a)</sup> | 2152517  |
| 648042 | NTPC Ltd. | 2727213  |
| 63576 | Nuvama Wealth Management Ltd. | 871508  |
| 488964 | Power Finance Corp., Ltd. | 2229397  |
| 701656 | Power Grid Corp. of India Ltd. | 2308593  |
| 186606 | PTC India Ltd. | 342442  |
| 640953 | Redington Ltd. | 1978657  |
| 248807 | Reliance Industries Ltd. | 3822188  |
| 104921 | SBI Life Insurance Co., Ltd.<sup>(a)</sup> | 2346133  |
| 65282 | Tata Communications Ltd. | 1151384  |
| 90167 | Tata Consumer Products Ltd. | 1137429  |
| 50255 | Trent Ltd. | 2156862  |
|  | Total India | 72407922  |
| **Indonesia – 1.0%**  | **Indonesia – 1.0%**  | **Indonesia – 1.0%**  |
| 1573000 | Adaro Andalan Indonesia PT | 866822  |
| 17200800 | Alamtri Resources Indonesia Tbk PT | 2402434  |
| 13407500 | Aneka Tambang Tbk | 3464973  |
| 5001600 | Bank Central Asia Tbk PT | 2140294  |
| 26943700 | Bank Mandiri Persero Tbk PT | 8409850  |
| 409600 | Indo Tambangraya Megah Tbk PT | 556196  |
| 4875900 | Japfa Comfeed Indonesia Tbk PT | 690467  |
| 6055400 | Perusahaan Gas Negara Persero Tbk PT | 862930  |
| 9677600 | Telkom Indonesia Persero Tbk PT | 2044328  |
|  | Total Indonesia | 21438294  |

---

See Notes to Financial Statements.

96<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Ireland – 1.5%**  | **Ireland – 1.5%**  | **Ireland – 1.5%**  |
| 613025 | AIB Group PLC | $6405629  |
| 221566 | Bank of Ireland Group PLC | 4332383  |
| 39810 | CRH PLC | 4776404  |
| 1552 | DCC PLC | 108150  |
| 161807 | Experian PLC | 6083458  |
| 9081 | James Hardie Industries PLC, CDI<sup>\*</sup> | 220898  |
| 28558 | Kerry Group PLC, Class A Shares | 2540882  |
| 15477 | Kingspan Group PLC | 1535905  |
| 54419 | Ryanair Holdings PLC | 1763905  |
| 57316 | Ryanair Holdings PLC, ADR | 3868257  |
|  | Total Ireland | 31635871  |
| **Israel – 0.6%**  | **Israel – 0.6%**  | **Israel – 0.6%**  |
| 1281 | Airport City Ltd.<sup>\*</sup> | 22480  |
| 4825 | Amot Investments Ltd. | 32006  |
| 524 | Azrieli Group Ltd. | 75250  |
| 22397 | Bank Hapoalim BM | 564440  |
| 24617 | Bank Leumi Le-Israel BM | 595113  |
| 288626 | Bezeq The Israeli Telecommunication Corp., Ltd. | 761930  |
| 242 | Big Shopping Centers Ltd. | 58355  |
| 369 | Camtek Ltd.<sup>\*</sup> | 61016  |
| 13598 | Check Point Software Technologies Ltd.<sup>\*</sup> | 2067848  |
| 1074 | Clal Insurance Enterprises Holdings Ltd. | 80247  |
| 133 | Delek Group Ltd. | 40699  |
| 81393 | El Al Israel Airlines | 406048  |
| 439 | Elbit Systems Ltd. | 336064  |
| 6484 | Energix-Renewable Energies Ltd. | 41378  |
| 2487 | Enlight Renewable Energy Ltd.<sup>\*</sup> | 170855  |
| 57 | Fattal Holdings 1998 Ltd.<sup>\*</sup> | 11184  |
| 1031 | First International Bank Of Israel Ltd. | 88586  |
| 28301 | G City Ltd.<sup>\*</sup> | 70797  |
| 1772 | Harel Insurance Investments & Financial Services Ltd. | 93132  |
| 12202 | ICL Group Ltd. | 57809  |
| 77 | Israel Corp., Ltd. | 19864  |
| 19710 | Israel Discount Bank Ltd., Class A Shares | 238395  |
| 451 | Melisron Ltd. | 61108  |
| 341 | Menora Mivtachim Holdings Ltd. | 48673  |
| 7256 | Migdal Insurance & Financial Holdings Ltd.<sup>\*</sup> | 39239  |
| 10478 | Mivne Real Estate KD Ltd. | 43457  |
| 2591 | Mizrahi Tefahot Bank Ltd. | 193939  |
| 977 | Next Vision Stabilized Systems Ltd. | 111466  |
| 1104 | Nice Ltd.<sup>\*</sup> | 128314  |
| 475 | Nova Ltd.<sup>\*</sup> | 207252  |
| 1352 | OPC Energy Ltd.<sup>\*</sup> | 42624  |

---

See Notes to Financial Statements.

97<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Israel – (continued)**  | **Israel – (continued)**  | **Israel – (continued)**  |
| 3413 | Phoenix Financial Ltd. | $174216  |
| 3042 | Shapir Engineering & Industry Ltd. | 31762  |
| 4585 | Shikun & Binui Ltd.<sup>\*</sup> | 24153  |
| 2749 | Shufersal Ltd. | 38511  |
| 160 | Strauss Group Ltd. | 7054  |
| 18816 | Teva Pharmaceutical Industries Ltd.<sup>\*</sup> | 638211  |
| 8508 | Tower Semiconductor Ltd.<sup>\*</sup> | 1063804  |
| 127822 | ZIM Integrated Shipping Services Ltd.<sup>(c)</sup> | 3685108  |
|  | Total Israel | 12432387  |
| **Italy – 2.9%**  | **Italy – 2.9%**  | **Italy – 2.9%**  |
| 27166 | A2A SpA | 79256  |
| 1931 | Amplifon SpA | 30048  |
| 241653 | Azimut Holding SpA | 9966917  |
| 60522 | Banca Mediolanum SpA | 1293766  |
| 34002 | Banca Monte dei Paschi di Siena SpA | 329436  |
| 23793 | Banco BPM SpA | 348567  |
| 126740 | BPER Banca SpA | 1775638  |
| 605 | Brunello Cucinelli SpA | 58642  |
| 1488 | Buzzi SpA | 85438  |
| 8708 | Danieli & C Officine Meccaniche SpA | 482519  |
| 8315 | Davide Campari-Milano NV | 62338  |
| 263 | DiaSorin SpA | 22065  |
| 824516 | Enel SpA | 9934007  |
| 31917 | Eni SpA | 746408  |
| 9832 | Ferrari NV | 3722294  |
| 9870 | FinecoBank Banca Fineco SpA | 231140  |
| 39767 | Generali | 1690651  |
| 11766 | Hera SpA | 61541  |
| 6069 | Infrastrutture Wireless Italiane SpA<sup>(a)</sup> | 64507  |
| 1183 | Interpump Group SpA | 54209  |
| 256806 | Intesa Sanpaolo SpA | 1751281  |
| 9559 | Italgas SpA | 123599  |
| 6649 | Leonardo SpA | 445708  |
| 3697 | Moncler SpA | 254184  |
| 9473 | Nexi SpA<sup>(a)</sup> | 38925  |
| 6281 | Pirelli & C SpA<sup>(a)</sup> | 47265  |
| 7256 | Poste Italiane SpA<sup>(a)</sup> | 193868  |
| 9000 | PRADA SpA | 51413  |
| 4785 | Prysmian SpA | 583849  |
| 1570 | Recordati Industria Chimica e Farmaceutica SpA | 90137  |
| 408 | Reply SpA | 43623  |
| 1966485 | Saipem SpA | 8275434  |
| 4331 | Sesa SpA | 393208  |

---

See Notes to Financial Statements.

98<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Italy – (continued)**  | **Italy – (continued)**  | **Italy – (continued)**  |
| 1532490 | Snam SpA | $11918096  |
| 241806 | Telecom Italia SpA<sup>\*</sup> | 191042  |
| 23083 | Terna - Rete Elettrica Nazionale | 278248  |
| 41046 | UniCredit SpA | 3461834  |
| 131922 | Unipol Assicurazioni SpA | 3266360  |
|  | Total Italy | 62447461  |
| **Japan – 14.5%**  | **Japan – 14.5%**  | **Japan – 14.5%**  |
| 1200 | ABC-Mart Inc. | 20168  |
| 8500 | Acom Co., Ltd. | 27780  |
| 26 | Activia Properties Inc. | 24859  |
| 38 | Advance Residence Investment Corp. | 41840  |
| 11900 | Advantest Corp. | 2044262  |
| 40620 | Aeon Co., Ltd. | 578556  |
| 2300 | AEON Financial Service Co., Ltd. | 25961  |
| 22 | AEON REIT Investment Corp. | 19252  |
| 3200 | AGC Inc. | 141723  |
| 800 | Aica Kogyo Co., Ltd. | 20352  |
| 3700 | Air Water Inc. | 51353  |
| 8000 | Aisin Corp. | 141989  |
| 80200 | Ajinomoto Co., Inc. | 2532341  |
| 76200 | Alfresa Holdings Corp. | 1308465  |
| 171500 | Alps Alpine Co., Ltd. | 2568336  |
| 4500 | ALSOK Co., Ltd. | 36859  |
| 5500 | Amada Co., Ltd. | 91468  |
| 1100 | Amano Corp. | 28804  |
| 2400 | ANA Holdings Inc. | 52170  |
| 2100 | Aozora Bank Ltd. | 37801  |
| 23746 | Asahi Group Holdings Ltd. | 258383  |
| 24900 | Asahi Intecc Co., Ltd. | 536466  |
| 18600 | Asahi Kasei Corp. | 219228  |
| 10800 | Asics Corp. | 330504  |
| 29300 | Astellas Pharma Inc. | 482061  |
| 8000 | Azbil Corp. | 74334  |
| 9200 | Bandai Namco Holdings Inc. | 249618  |
| 2100 | BayCurrent Inc. | 60450  |
| 1000 | Bic Camera Inc. | 11556  |
| 1500 | BIPROGY Inc. | 45397  |
| 400 | Blue Zones Holdings Co., Ltd. | 24637  |
| 17800 | Bridgestone Corp. | 430613  |
| 91000 | Brother Industries Ltd. | 1879855  |
| 56500 | Calbee Inc. | 1117987  |
| 13800 | Canon Inc. | 420159  |
| 800 | Canon Marketing Japan Inc. | 35768  |

---

See Notes to Financial Statements.

99<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Japan – (continued)**  | **Japan – (continued)**  | **Japan – (continued)**  |
| 5600 | Capcom Co., Ltd. | $127000  |
| 3300 | Casio Computer Co., Ltd. | 33170  |
| 14100 | Central Japan Railway Co. | 414592  |
| 229500 | Chiba Bank Ltd. | 3411396  |
| 382200 | Chiyoda Corp.<sup>\*</sup> | 3225650  |
| 11800 | Chubu Electric Power Co., Inc. | 199706  |
| 47700 | Chugai Pharmaceutical Co., Ltd. | 3220448  |
| 2900 | Chugin Financial Group Inc. | 59163  |
| 195500 | Chugoku Electric Power Co., Inc. | 1363182  |
| 2000 | Coca-Cola Bottlers Japan Holdings Inc. | 52895  |
| 2300 | COMSYS Holdings Corp. | 84724  |
| 1800 | Cosmo Energy Holdings Co., Ltd. | 55390  |
| 600 | Cosmos Pharmaceutical Corp. | 26667  |
| 12400 | Credit Saison Co., Ltd. | 374907  |
| 6200 | CyberAgent Inc. | 54256  |
| 6300 | Dai Nippon Printing Co., Ltd. | 130462  |
| 4800 | Daicel Corp. | 50260  |
| 1900 | Daido Steel Co., Ltd. | 28874  |
| 6000 | Daifuku Co., Ltd. | 247343  |
| 56300 | Dai-ichi Life Holdings Inc. | 579474  |
| 30500 | Daiichi Sankyo Co., Ltd. | 603200  |
| 35800 | Daiichikosho Co., Ltd. | 398163  |
| 4500 | Daikin Industries Ltd. | 577145  |
| 5000 | Daito Trust Construction Co., Ltd. | 115308  |
| 9600 | Daiwa House Industry Co., Ltd. | 346252  |
| 70 | Daiwa House REIT Investment Corp., Class A Shares | 59592  |
| 10 | Daiwa Office Investment Corp., Class A Shares | 23360  |
| 21100 | Daiwa Securities Group Inc. | 221734  |
| 38 | Daiwa Securities Living Investments Corp., Class A Shares | 28190  |
| 29200 | Denso Corp. | 419535  |
| 3600 | Dentsu Group Inc. | 67123  |
| 1500 | Dentsu Soken Inc. | 18874  |
| 2100 | Dexerials Corp. | 34447  |
| 1200 | DIC Corp. | 33990  |
| 4900 | Disco Corp. | 2353543  |
| 2200 | DMG Mori Co., Ltd. | 43557  |
| 800 | Dowa Holdings Co., Ltd. | 59511  |
| 16900 | East Japan Railway Co. | 416568  |
| 6900 | Ebara Corp. | 243551  |
| 4100 | Eisai Co., Ltd. | 138383  |
| 26500 | Electric Power Development Co., Ltd. | 631941  |
| 42900 | ENEOS Holdings Inc. | 408803  |
| 3300 | EXEO Group Inc. | 63152  |

---

See Notes to Financial Statements.

100<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Japan – (continued)**  | **Japan – (continued)**  | **Japan – (continued)**  |
| 34800 | Ezaki Glico Co., Ltd. | $1349235  |
| 15000 | FANUC Corp. | 680194  |
| 2900 | Fast Retailing Co., Ltd. | 1268921  |
| 1900 | Food & Life Cos., Ltd. | 122399  |
| 1200 | FP Corp. | 21721  |
| 40 | Frontier Real Estate Investment Corp. | 22918  |
| 2100 | Fuji Electric Co., Ltd. | 186203  |
| 900 | Fuji Media Holdings Inc. | 20615  |
| 400 | Fuji Oil Co., Ltd. | 10215  |
| 19600 | FUJIFILM Holdings Corp. | 406463  |
| 4400 | Fujikura Ltd. | 749867  |
| 27700 | Fujitsu Ltd. | 623349  |
| 2700 | Fukuoka Financial Group Inc. | 117374  |
| 1200 | Furukawa Electric Co., Ltd. | 214806  |
| 1200 | Fuyo General Lease Co., Ltd. | 35586  |
| 62 | GLP J-Reit | 55570  |
| 1200 | GMO internet group Inc. | 22985  |
| 600 | GMO Payment Gateway Inc. | 31051  |
| 1500 | Goldwin Inc. | 23562  |
| 1400 | GS Yuasa Corp. | 49697  |
| 3900 | Gunma Bank Ltd. | 56371  |
| 6600 | Hachijuni Nagano Bank Ltd. | 87658  |
| 5100 | Hakuhodo DY Holdings Inc. | 38110  |
| 5400 | Hamamatsu Photonics KK | 69858  |
| 4000 | Hankyu Hanshin Holdings Inc. | 116693  |
| 21300 | Hanwa Co., Ltd. | 1220977  |
| 900 | Harmonic Drive Systems Inc. | 26139  |
| 4500 | Haseko Corp. | 98234  |
| 1400 | Heiwa Corp. | 18061  |
| 3500 | Hikari Tsushin Inc. | 989818  |
| 490300 | Hino Motors Ltd.<sup>\*</sup> | 1432412  |
| 4100 | Hirogin Holdings Inc. | 50748  |
| 14410 | Hirose Electric Co., Ltd. | 2147452  |
| 900 | Hisamitsu Pharmaceutical Co., Inc. | 35239  |
| 1300 | Hitachi Construction Machinery Co., Ltd. | 58337  |
| 132000 | Hitachi Ltd. | 4372162  |
| 61128 | Honda Motor Co., Ltd. | 612751  |
| 500 | Horiba Ltd. | 67164  |
| 1900 | Hoshizaki Corp. | 66537  |
| 1700 | House Foods Group Inc. | 33618  |
| 5500 | Hoya Corp. | 992054  |
| 7600 | Hulic Co., Ltd. | 100598  |
| 4200 | Ibiden Co., Ltd. | 254880  |

---

See Notes to Financial Statements.

101<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Japan – (continued)**  | **Japan – (continued)**  | **Japan – (continued)**  |
| 14200 | Idemitsu Kosan Co., Ltd. | $135654  |
| 14700 | IHI Corp. | 403115  |
| 2600 | Iida Group Holdings Co., Ltd. | 46234  |
| 48 | Industrial & Infrastructure Fund Investment Corp., Class A Shares | 46699  |
| 2100 | INFRONEER Holdings Inc. | 35162  |
| 13000 | Inpex Corp. | 318119  |
| 1400 | Internet Initiative Japan Inc. | 20421  |
| 139 | Invincible Investment Corp. | 58984  |
| 5200 | Isetan Mitsukoshi Holdings Ltd. | 102361  |
| 8800 | Isuzu Motors Ltd. | 164065  |
| 600 | Ito En Ltd. | 11653  |
| 104000 | ITOCHU Corp. | 1498182  |
| 200 | Itoham Yonekyu Holdings Inc. | 8251  |
| 3200 | Iwatani Corp. | 42090  |
| 3000 | Iyogin Holdings Inc. | 65028  |
| 2700 | Izumi Co., Ltd. | 17938  |
| 3600 | J Front Retailing Co., Ltd. | 59403  |
| 2900 | Japan Airlines Co., Ltd. | 59710  |
| 1100 | Japan Airport Terminal Co., Ltd. | 37452  |
| 16700 | Japan Exchange Group Inc. | 226673  |
| 100 | Japan Hotel REIT Investment Corp., Class A Shares | 54272  |
| 36 | Japan Logistics Fund Inc. | 23923  |
| 99 | Japan Metropolitan Fund Invest | 77108  |
| 29600 | Japan Post Bank Co., Ltd. | 578638  |
| 28600 | Japan Post Holdings Co., Ltd. | 372195  |
| 3000 | Japan Post Insurance Co., Ltd. | 97838  |
| 52 | Japan Prime Realty Investment Corp. | 35481  |
| 116 | Japan Real Estate Investment Corp. | 96615  |
| 1100 | Japan Steel Works Ltd. | 71659  |
| 18200 | Japan Tobacco Inc. | 696531  |
| 600 | Jeol Ltd. | 26389  |
| 10100 | JFE Holdings Inc. | 142098  |
| 1500 | JGC Holdings Corp. | 23702  |
| 500 | JMDC Inc. | 13341  |
| 4700 | JTEKT Corp. | 64504  |
| 200 | Justsystems Corp. | 5015  |
| 7700 | JX Advanced Metals Corp. | 206460  |
| 1500 | Kadokawa Corp. | 27803  |
| 19200 | Kaga Electronics Co., Ltd. | 534744  |
| 1500 | Kagome Co., Ltd. | 27828  |
| 7100 | Kajima Corp. | 323927  |
| 1800 | Kakaku.com Inc. | 19839  |
| 1300 | Kamigumi Co., Ltd. | 48309  |

---

See Notes to Financial Statements.

102<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Japan – (continued)**  | **Japan – (continued)**  | **Japan – (continued)**  |
| 2100 | Kandenko Co., Ltd. | $93705  |
| 700 | Kaneka Corp. | 23633  |
| 16300 | Kansai Electric Power Co., Inc. | 294554  |
| 2500 | Kansai Paint Co., Ltd. | 44178  |
| 7500 | Kao Corp. | 320588  |
| 2400 | Kawasaki Heavy Industries Ltd. | 279246  |
| 5900 | Kawasaki Kisen Kaisha Ltd. | 94811  |
| 45300 | KDDI Corp. | 778139  |
| 68 | KDX Realty Investment Corp., Class A Shares | 74007  |
| 1100 | Keihan Holdings Co., Ltd. | 24364  |
| 4500 | Keikyu Corp. | 45048  |
| 2000 | Keio Corp. | 53666  |
| 6900 | Keisei Electric Railway Co., Ltd. | 59822  |
| 1600 | Kewpie Corp. | 45892  |
| 15600 | Keyence Corp. | 6581704  |
| 12000 | Kikkoman Corp. | 115284  |
| 1900 | Kinden Corp. | 103031  |
| 3200 | Kintetsu Group Holdings Co., Ltd. | 67711  |
| 2700 | Kioxia Holdings Corp.<sup>\*</sup> | 364143  |
| 12500 | Kirin Holdings Co., Ltd. | 217006  |
| 800 | Kobayashi Pharmaceutical Co., Ltd. | 29867  |
| 2200 | Kobe Bussan Co., Ltd. | 52287  |
| 71800 | Kobe Steel Ltd. | 1044095  |
| 2200 | Koei Tecmo Holdings Co., Ltd. | 25402  |
| 3800 | Koito Manufacturing Co., Ltd. | 68530  |
| 2900 | Kokusai Electric Corp. | 119494  |
| 7200 | Kokuyo Co., Ltd. | 42376  |
| 235629 | Komatsu Ltd. | 11331335  |
| 1600 | Konami Group Corp. | 212968  |
| 113200 | Konica Minolta Inc. | 431067  |
| 6400 | Kose Holdings Corp. | 255000  |
| 1300 | Kotobuki Spirits Co., Ltd. | 16472  |
| 600 | Kraftia Corp. | 40502  |
| 2200 | K's Holdings Corp. | 24075  |
| 15900 | Kubota Corp. | 322615  |
| 3700 | Kuraray Co., Ltd. | 43676  |
| 1900 | Kurita Water Industries Ltd. | 105705  |
| 1200 | Kusuri no Aoki Holdings Co., Ltd. | 31228  |
| 21900 | Kyocera Corp. | 386409  |
| 3800 | Kyoto Financial Group Inc. | 94133  |
| 4300 | Kyowa Kirin Co., Ltd. | 79385  |
| 261500 | Kyushu Electric Power Co., Inc. | 3370027  |
| 7600 | Kyushu Financial Group Inc. | 64965  |

---

See Notes to Financial Statements.

103<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Japan – (continued)**  | **Japan – (continued)**  | **Japan – (continued)**  |
| 69500 | Kyushu Railway Co. | $1764697  |
| 23 | LaSalle Logiport REIT | 22679  |
| 1300 | Lasertec Corp. | 280568  |
| 28200 | Lion Corp. | 332249  |
| 3900 | Lixil Corp. | 45777  |
| 43500 | LY Corp. | 107650  |
| 160100 | M3 Inc. | 1749812  |
| 2400 | Mabuchi Motor Co., Ltd. | 28235  |
| 2700 | Macnica Holdings Inc. | 47718  |
| 3702 | Makita Corp. | 141793  |
| 24300 | Marubeni Corp. | 931922  |
| 2200 | Marui Group Co., Ltd. | 44626  |
| 2100 | Maruichi Steel Tube Ltd. | 21823  |
| 100 | Maruwa Co., Ltd. | 39067  |
| 6200 | MatsukiyoCocokara & Co. | 102848  |
| 103100 | Mazda Motor Corp. | 921355  |
| 1500 | McDonald's Holdings Co. Japan Ltd. | 71441  |
| 16600 | Mebuki Financial Group Inc. | 142423  |
| 62700 | Medipal Holdings Corp. | 1229909  |
| 3800 | MEIJI Holdings Co., Ltd. | 98024  |
| 2200 | Mercari Inc.<sup>\*</sup> | 53092  |
| 15800 | Metaplanet Inc.<sup>\*</sup> | 33281  |
| 470604 | MINEBEA MITSUMI Inc. | 10107361  |
| 633430 | MISUMI Group Inc. | 12731590  |
| 19200 | Mitsubishi Chemical Group Corp. | 142359  |
| 53500 | Mitsubishi Corp. | 1800663  |
| 214768 | Mitsubishi Electric Corp. | 8202470  |
| 18400 | Mitsubishi Estate Co., Ltd. | 622034  |
| 2800 | Mitsubishi Gas Chemical Co., Inc. | 78330  |
| 14500 | Mitsubishi HC Capital Inc. | 139972  |
| 52200 | Mitsubishi Heavy Industries Ltd. | 1672102  |
| 5100 | Mitsubishi Logistics Corp. | 46697  |
| 2500 | Mitsubishi Materials Corp. | 96335  |
| 605100 | Mitsubishi Motors Corp. | 1660317  |
| 179900 | Mitsubishi UFJ Financial Group Inc. | 3368391  |
| 41800 | Mitsui & Co., Ltd. | 1567594  |
| 6000 | Mitsui Chemicals Inc. | 91296  |
| 27 | Mitsui Fudosan Accommodations Fund Inc., Class A Shares | 23832  |
| 43100 | Mitsui Fudosan Co., Ltd. | 579759  |
| 44 | Mitsui Fudosan Logistics Park Inc. | 33151  |
| 900 | Mitsui Kinzoku Co., Ltd. | 211341  |
| 5000 | Mitsui OSK Lines Ltd. | 185480  |
| 800 | Miura Co., Ltd. | 16483  |

---

See Notes to Financial Statements.

104<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Japan – (continued)**  | **Japan – (continued)**  | **Japan – (continued)**  |
| 39800 | Mizuho Financial Group Inc. | $1817429  |
| 700 | Modec Inc. | 59975  |
| 500 | Money Forward Inc.<sup>\*</sup> | 10207  |
| 4000 | MonotaRO Co., Ltd. | 53202  |
| 28 | Mori Hills REIT Investment Corp., Class A Shares | 26343  |
| 1400 | Morinaga & Co., Ltd. | 25896  |
| 1100 | Morinaga Milk Industry Co., Ltd. | 34904  |
| 20500 | MS&AD Insurance Group Holdings Inc. | 573198  |
| 399250 | Murata Manufacturing Co., Ltd. | 10462605  |
| 337953 | Nabtesco Corp. | 10965536  |
| 1600 | Nagase & Co., Ltd. | 50642  |
| 3500 | Nagoya Railroad Co., Ltd. | 41257  |
| 1800 | Nankai Electric Railway Co., Ltd. | 35800  |
| 20400 | NEC Corp. | 565208  |
| 6400 | Nexon Co., Ltd. | 135749  |
| 67800 | Nextage Co., Ltd. | 1679403  |
| 3700 | NGK Insulators Ltd. | 108366  |
| 1400 | NH Foods Ltd. | 64148  |
| 2700 | NHK Spring Co., Ltd. | 51838  |
| 700 | Nichias Corp. | 42893  |
| 2700 | Nichirei Corp. | 36797  |
| 15400 | NIDEC Corp. | 242915  |
| 1800 | Nifco Inc. | 63801  |
| 2800 | Nihon Kohden Corp. | 31274  |
| 4300 | Nihon M&A Center Holdings Inc. | 19885  |
| 4400 | Nikon Corp. | 56533  |
| 16400 | Nintendo Co., Ltd. | 924551  |
| 120 | Nippon Building Fund Inc. | 111568  |
| 1000 | Nippon Electric Glass Co., Ltd. | 43936  |
| 3500 | NIPPON EXPRESS HOLDINGS Inc. | 86223  |
| 2400 | Nippon Kayaku Co., Ltd. | 30808  |
| 16800 | Nippon Paint Holdings Co., Ltd. | 124363  |
| 123 | Nippon Prologis REIT Inc. | 72165  |
| 58800 | Nippon Sanso Holdings Corp. | 2249766  |
| 82500 | Nippon Shinyaku Co., Ltd. | 2711773  |
| 2400 | Nippon Shokubai Co., Ltd. | 39021  |
| 81000 | Nippon Steel Corp. | 329884  |
| 300 | Nippon Television Holdings Inc. | 6523  |
| 6700 | Nippon Yusen KK | 230449  |
| 2600 | Nipro Corp. | 26463  |
| 2200 | Nissan Chemical Corp. | 99924  |
| 30600 | Nissan Motor Co., Ltd.<sup>\*</sup> | 84357  |
| 4300 | Nisshin Seifun Group Inc. | 60133  |

---

See Notes to Financial Statements.

105<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Japan – (continued)**  | **Japan – (continued)**  | **Japan – (continued)**  |
| 51700 | Nissin Foods Holdings Co., Ltd. | $1089606  |
| 2500 | Niterra Co., Ltd. | 126260  |
| 97200 | Nitori Holdings Co., Ltd. | 1953394  |
| 107000 | Nitto Denko Corp. | 2482615  |
| 3200 | NOF Corp. | 64169  |
| 1500 | NOK Corp. | 31894  |
| 48500 | Nomura Holdings Inc. | 449405  |
| 7700 | Nomura Real Estate Holdings Inc. | 57339  |
| 76 | Nomura Real Estate Master Fund Inc. | 81171  |
| 6800 | Nomura Research Institute Ltd. | 189741  |
| 1200 | NS Solutions Corp. | 30863  |
| 25900 | NS United Kaiun Kaisha Ltd. | 1266996  |
| 8720 | NSK Ltd. | 78499  |
| 457300 | NTT Inc. | 448903  |
| 10500 | Obayashi Corp. | 295950  |
| 300 | OBIC Business Consultants Co., Ltd. | 12112  |
| 5300 | Obic Co., Ltd. | 142182  |
| 4800 | Odakyu Electric Railway Co., Ltd. | 54989  |
| 11800 | Oji Holdings Corp. | 74267  |
| 1000 | OKUMA Corp. | 29736  |
| 919485 | Olympus Corp. | 9028618  |
| 372145 | Omron Corp. | 13192578  |
| 5800 | Ono Pharmaceutical Co., Ltd. | 99481  |
| 1300 | Open House Group Co., Ltd. | 96189  |
| 500 | Oracle Corp. Japan | 30154  |
| 300 | Organo Corp. | 33185  |
| 17100 | Oriental Land Co., Ltd. | 309330  |
| 18100 | ORIX Corp. | 638926  |
| 80 | Orix JREIT Inc.<sup>(c)</sup> | 53324  |
| 5700 | Osaka Gas Co., Ltd. | 237236  |
| 3500 | Otsuka Corp. | 70511  |
| 7100 | Otsuka Holdings Co., Ltd. | 486143  |
| 700 | PALTAC Corp. | 22567  |
| 31000 | Pan Pacific International Holdings Corp. | 206493  |
| 36700 | Panasonic Holdings Corp. | 591979  |
| 1700 | Park24 Co., Ltd. | 24474  |
| 2000 | PeptiDream Inc.<sup>\*</sup> | 18226  |
| 471700 | Persol Holdings Co., Ltd. | 754392  |
| 1700 | Pola Orbis Holdings Inc. | 14984  |
| 3200 | Rakus Co., Ltd. | 17829  |
| 15300 | Rakuten Bank Ltd.<sup>\*</sup> | 622174  |
| 24100 | Rakuten Group Inc.<sup>\*</sup> | 127488  |
| 55400 | Recruit Holdings Co., Ltd. | 2418257  |

---

See Notes to Financial Statements.

106<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Japan – (continued)**  | **Japan – (continued)**  | **Japan – (continued)**  |
| 1700 | Relo Group Inc. | $20962  |
| 290500 | Renesas Electronics Corp. | 5500722  |
| 641400 | Resona Holdings Inc. | 7831799  |
| 3200 | Resonac Holdings Corp. | 243297  |
| 2400 | Resorttrust Inc. | 29649  |
| 9000 | Ricoh Co., Ltd. | 84538  |
| 1600 | Rinnai Corp. | 41671  |
| 4900 | Rohm Co., Ltd. | 89904  |
| 139600 | Rohto Pharmaceutical Co., Ltd. | 2181676  |
| 2200 | Rorze Corp. | 46636  |
| 2200 | Round One Corp. | 15047  |
| 7800 | Ryohin Keikaku Co., Ltd. | 179790  |
| 68000 | Sankyo Co., Ltd. | 958752  |
| 600 | Sankyu Inc. | 38564  |
| 33700 | Sanrio Co., Ltd. | 1212802  |
| 72600 | Santen Pharmaceutical Co., Ltd. | 813433  |
| 2900 | Sanwa Holdings Corp. | 76654  |
| 5500 | Sapporo Holdings Ltd. | 62542  |
| 2100 | Sawai Group Holdings Co., Ltd. | 31325  |
| 9400 | SBI Holdings Inc. | 200917  |
| 1500 | SCREEN Holdings Co., Ltd. | 219290  |
| 6600 | Secom Co., Ltd. | 254906  |
| 2500 | Sega Sammy Holdings Inc. | 41824  |
| 2600 | Seibu Holdings Inc. | 76874  |
| 41800 | Seiko Epson Corp. | 565456  |
| 2300 | Seino Holdings Co., Ltd. | 39236  |
| 6200 | Sekisui Chemical Co., Ltd. | 120868  |
| 8800 | Sekisui House Ltd. | 215342  |
| 1913 | Sekisui House REIT Inc. | 1152543  |
| 202500 | Seven & i Holdings Co., Ltd.<sup>(c)</sup> | 2842279  |
| 9900 | Seven Bank Ltd. | 19053  |
| 5500 | SG Holdings Co., Ltd. | 55893  |
| 3200 | Sharp Corp.<sup>\*</sup> | 13270  |
| 3000 | SHIFT Inc.<sup>\*</sup> | 13479  |
| 3200 | Shikoku Electric Power Co., Inc. | 36279  |
| 94600 | Shimadzu Corp. | 2635831  |
| 2400 | Shimamura Co., Ltd. | 55266  |
| 21800 | Shimano Inc. | 2338065  |
| 7700 | Shimizu Corp. | 171661  |
| 117900 | Shin-Etsu Chemical Co., Ltd. | 4662020  |
| 12500 | Shionogi & Co., Ltd. | 294745  |
| 45900 | Ship Healthcare Holdings Inc. | 808343  |
| 6200 | Shiseido Co., Ltd. | 130312  |

---

See Notes to Financial Statements.

107<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Japan – (continued)**  | **Japan – (continued)**  | **Japan – (continued)**  |
| 6600 | Shizuoka Financial Group Inc. | $132619  |
| 1600 | SHO-BOND Holdings Co., Ltd. | 15045  |
| 3800 | Skylark Holdings Co., Ltd. | 87392  |
| 900 | SMC Corp. | 433078  |
| 2400 | Socionext Inc. | 30844  |
| 473400 | SoftBank Corp. | 647538  |
| 64000 | SoftBank Group Corp. | 1659718  |
| 3700 | Sojitz Corp. | 167421  |
| 14200 | Sompo Holdings Inc. | 557581  |
| 98200 | Sony Financial Group Inc.<sup>\*</sup> | 100464  |
| 236200 | Sony Group Corp. | 5458741  |
| 1100 | Sotetsu Holdings Inc. | 20673  |
| 4500 | Square Enix Holdings Co., Ltd. | 74045  |
| 1900 | Stanley Electric Co., Ltd. | 40109  |
| 9200 | Subaru Corp. | 173706  |
| 1100 | Sugi Holdings Co., Ltd. | 25300  |
| 4500 | SUMCO Corp. | 52450  |
| 1200 | Sumitomo Bakelite Co., Ltd. | 46101  |
| 26600 | Sumitomo Chemical Co., Ltd. | 97000  |
| 16800 | Sumitomo Corp. | 715102  |
| 12200 | Sumitomo Electric Industries Ltd. | 806635  |
| 7500 | Sumitomo Forestry Co., Ltd. | 81547  |
| 1100 | Sumitomo Heavy Industries Ltd. | 43387  |
| 3800 | Sumitomo Metal Mining Co., Ltd. | 302311  |
| 60300 | Sumitomo Mitsui Financial Group Inc. | 2258964  |
| 10700 | Sumitomo Mitsui Trust Group Inc. | 374954  |
| 2500 | Sumitomo Pharma Co., Ltd.<sup>\*</sup> | 40756  |
| 10600 | Sumitomo Realty & Development Co., Ltd. | 357967  |
| 3800 | Sumitomo Rubber Industries Ltd. | 67607  |
| 1400 | Sundrug Co., Ltd. | 37858  |
| 2300 | Suntory Beverage & Food Ltd. | 72457  |
| 33400 | Suzuken Co., Ltd. | 1414270  |
| 28900 | Suzuki Motor Corp. | 436404  |
| 7300 | Sysmex Corp. | 69349  |
| 7900 | T&D Holdings Inc. | 211608  |
| 1800 | Taiheiyo Cement Corp. | 51696  |
| 18600 | Taisei Corp. | 2415924  |
| 800 | Taiyo Holdings Co., Ltd. | 27475  |
| 2000 | Taiyo Yuden Co., Ltd. | 61116  |
| 2900 | Takara Holdings Inc. | 30214  |
| 2000 | Takasago Thermal Engineering Co., Ltd. | 66936  |
| 5600 | Takashimaya Co., Ltd. | 70748  |
| 25900 | Takeda Pharmaceutical Co., Ltd. | 968171  |

---

See Notes to Financial Statements.

108<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Japan – (continued)**  | **Japan – (continued)**  | **Japan – (continued)**  |
| 800 | TBS Holdings Inc. | $30215  |
| 31100 | TDK Corp. | 480385  |
| 2500 | Teijin Ltd. | 27732  |
| 24100 | Terumo Corp. | 325482  |
| 1500 | THK Co., Ltd. | 54217  |
| 3500 | TIS Inc. | 72016  |
| 3400 | Tobu Railway Co., Ltd. | 68340  |
| 4100 | Toda Corp. | 42674  |
| 1000 | Toei Animation Co., Ltd. | 15572  |
| 8500 | Toho Co., Ltd. | 85207  |
| 1600 | Toho Gas Co., Ltd. | 57611  |
| 159700 | Tohoku Electric Power Co., Inc. | 1323405  |
| 3700 | Tokai Carbon Co., Ltd. | 26440  |
| 23500 | Tokai Rika Co., Ltd. | 505201  |
| 29900 | Tokio Marine Holdings Inc. | 1247078  |
| 2000 | Tokyo Century Corp. | 29201  |
| 20500 | Tokyo Electric Power Co. Holdings Inc.<sup>\*</sup> | 91742  |
| 7300 | Tokyo Electron Ltd. | 2064469  |
| 5800 | Tokyo Gas Co., Ltd. | 284041  |
| 4000 | Tokyo Metro Co., Ltd. | 42828  |
| 1600 | Tokyo Ohka Kogyo Co., Ltd. | 94047  |
| 15000 | Tokyo Seimitsu Co., Ltd. | 1653536  |
| 20900 | Tokyo Tatemono Co., Ltd. | 584237  |
| 8300 | Tokyu Corp. | 106181  |
| 124300 | Tokyu Fudosan Holdings Corp. | 1247504  |
| 1300 | Tomy Co., Ltd. | 23882  |
| 3900 | TOPPAN Holdings Inc. | 133761  |
| 23600 | Toray Industries Inc. | 201633  |
| 900 | Toridoll Holdings Corp. | 24554  |
| 4906 | Tosoh Corp. | 85620  |
| 345252 | TOTO Ltd. | 13502430  |
| 1700 | Toyo Seikan Group Holdings Ltd. | 44333  |
| 61300 | Toyo Suisan Kaisha Ltd. | 4818632  |
| 1500 | Toyo Tire Corp. | 46249  |
| 24600 | Toyoda Gosei Co., Ltd. | 799666  |
| 89200 | Toyota Boshoku Corp. | 1825065  |
| 2800 | Toyota Industries Corp. | 362445  |
| 173600 | Toyota Motor Corp. | 4184642  |
| 11800 | Toyota Tsusho Corp. | 525877  |
| 21800 | Transcosmos Inc. | 568448  |
| 2200 | Trend Micro Inc. | 73051  |
| 1800 | TS Tech Co., Ltd. | 23193  |
| 1100 | Tsumura & Co. | 29569  |

---

See Notes to Financial Statements.

109<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Japan – (continued)**  | **Japan – (continued)**  | **Japan – (continued)**  |
| 4212 | Tsuruha Holdings Inc. | $70789  |
| 1700 | UBE Corp. | 31392  |
| 1000 | Ulvac Inc. | 66793  |
| 348800 | Unicharm Corp. | 2391979  |
| 43 | United Urban Investment Corp. | 51030  |
| 6900 | USS Co., Ltd. | 83646  |
| 47000 | Valor Holdings Co., Ltd. | 1127421  |
| 200 | Visional Inc.<sup>\*</sup> | 9409  |
| 7800 | West Japan Railway Co. | 167581  |
| 300 | Workman Co., Ltd. | 14952  |
| 3900 | Yakult Honsha Co., Ltd. | 65146  |
| 308500 | Yamada Holdings Co., Ltd. | 1143947  |
| 3200 | Yamaguchi Financial Group Inc. | 56286  |
| 4500 | Yamaha Corp. | 34859  |
| 15500 | Yamaha Motor Co., Ltd. | 122821  |
| 4600 | Yamato Holdings Co., Ltd. | 56383  |
| 500 | Yamato Kogyo Co., Ltd. | 41598  |
| 2200 | Yamazaki Baking Co., Ltd. | 49467  |
| 4400 | Yaskawa Electric Corp. | 154331  |
| 4200 | Yokogawa Electric Corp. | 167360  |
| 16400 | Yokohama Financial Group Inc. | 177099  |
| 2100 | Yokohama Rubber Co., Ltd. | 105691  |
| 2000 | Zenkoku Hosho Co., Ltd. | 41109  |
| 1600 | Zensho Holdings Co., Ltd. | 101509  |
| 48000 | Zeon Corp. | 656946  |
| 7500 | ZOZO Inc. | 54808  |
|  | Total Japan | 317007441  |
| **Luxembourg – 0.6%**  | **Luxembourg – 0.6%**  | **Luxembourg – 0.6%**  |
| 80651 | ArcelorMittal SA | 5262547  |
| 113758 | Aroundtown SA<sup>\*</sup> | 410702  |
| 155949 | CVC Capital Partners PLC<sup>(a)</sup> | 2224898  |
| 1741 | Eurofins Scientific SE | 139479  |
| 28506 | Millicom International Cellular SA | 2077802  |
| 434 | RTL Group SA | 19046  |
| 93615 | Tenaris SA | 2550218  |
|  | Total Luxembourg | 12684692  |
| **Macau – 0.0%**  | **Macau – 0.0%**  | **Macau – 0.0%**  |
| 15600 | MGM China Holdings Ltd. | 24925  |
| 34800 | Sands China Ltd. | 78634  |
| 20800 | Wynn Macau Ltd. | 15163  |
|  | Total Macau | 118722  |
| **Malaysia – 0.1%**  | **Malaysia – 0.1%**  | **Malaysia – 0.1%**  |
| 3493000 | Sime Darby Bhd | 2189377  |

---

See Notes to Financial Statements.

110<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Mexico – 0.9%**  | **Mexico – 0.9%**  | **Mexico – 0.9%**  |
| 3190 | Fresnillo PLC | $183508  |
| 905200 | Grupo Financiero Banorte SAB de CV, Class O Shares | 10291762  |
| 645057 | Grupo Mexico SAB de CV, Class B Shares | 8174068  |
|  | Total Mexico | 18649338  |
| **Netherlands – 3.5%**  | **Netherlands – 3.5%**  | **Netherlands – 3.5%**  |
| 236172 | ABN AMRO Bank NV, GDR<sup>(a)</sup> | 7921343  |
| 2317 | Adyen NV<sup>\*(a)</sup> | 2699395  |
| 20709 | Aegon Ltd. | 157260  |
| 140857 | Akzo Nobel NV | 9938848  |
| 1009 | Argenx SE<sup>\*</sup> | 775185  |
| 1793 | Argenx SE, ADR<sup>\*</sup> | 1375088  |
| 2927 | ASM International NV | 2462726  |
| 15034 | ASML Holding NV | 21810772  |
| 2425 | ASR Nederland NV | 175982  |
| 1146 | BE Semiconductor Industries NV | 256897  |
| 1698 | CTP NV<sup>(a)</sup> | 36068  |
| 34820 | Euronext NV<sup>(a)</sup> | 5757080  |
| 1629 | EXOR NV | 143202  |
| 8008 | Ferrovial SE | 600409  |
| 2030 | Heineken Holding NV | 175557  |
| 4555 | Heineken NV | 422059  |
| 901 | IMCD NV | 86948  |
| 48645 | ING Groep NV | 1403371  |
| 2461 | JDE Peet's NV | 92178  |
| 14953 | Koninklijke Ahold Delhaize NV | 737882  |
| 62859 | Koninklijke KPN NV | 357037  |
| 12592 | Koninklijke Philips NV | 402189  |
| 1018 | Koninklijke Vopak NV | 55968  |
| 7858 | Magnum Ice Cream Co. NV<sup>\*</sup> | 124431  |
| 4299 | NN Group NV | 350116  |
| 107649 | Prosus NV<sup>\*</sup> | 5515250  |
| 55688 | QIAGEN NV | 2758318  |
| 1897 | Randstad NV | 62700  |
| 360266 | Signify NV<sup>(a)</sup> | 8391456  |
| 35046 | Stellantis NV | 284663  |
| 15600 | Universal Music Group NV | 352229  |
| 20416 | Wolters Kluwer NV | 1642813  |
|  | Total Netherlands | 77325420  |
| **New Zealand – 0.1%**  | **New Zealand – 0.1%**  | **New Zealand – 0.1%**  |
| 11489 | a2 Milk Co., Ltd. | 79669  |
| 39575 | Air New Zealand Ltd. | 13189  |
| 29420 | Auckland International Airport Ltd. | 161615  |
| 13834 | Contact Energy Ltd. | 76960  |

---

See Notes to Financial Statements.

111<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **New Zealand – (continued)**  | **New Zealand – (continued)**  | **New Zealand – (continued)**  |
| 9229 | Fisher & Paykel Healthcare Corp., Ltd | $226309  |
| 18829 | Fletcher Building Ltd.<sup>\*</sup> | 39620  |
| 14851 | Infratil Ltd. | 99756  |
| 1194 | Mainfreight Ltd. | 46032  |
| 10284 | Mercury NZ Ltd. | 39407  |
| 18727 | Meridian Energy Ltd. | 63547  |
| 12378 | Ryman Healthcare Ltd.<sup>\*</sup> | 18444  |
| 30230 | Spark New Zealand Ltd. | 41327  |
| 2522 | Xero Ltd.<sup>\*</sup> | 147970  |
|  | Total New Zealand | 1053845  |
| **Norway – 1.3%**  | **Norway – 1.3%**  | **Norway – 1.3%**  |
| 343 | Aker ASA, Class A Shares | 33326  |
| 425446 | Aker BP ASA | 12803046  |
| 161772 | Aker Solutions ASA | 697704  |
| 13718 | DNB Bank ASA | 435385  |
| 366671 | Equinor ASA | 10918108  |
| 2802 | Gjensidige Forsikring ASA | 79084  |
| 60312 | Hoegh Autoliners ASA | 843167  |
| 6966 | Kongsberg Gruppen ASA | 283451  |
| 6943 | Mowi ASA | 163432  |
| 378343 | MPC Container Ships ASA | 884786  |
| 20114 | Norsk Hydro ASA | 186788  |
| 254351 | Norwegian Air Shuttle ASA | 444972  |
| 10714 | Orkla ASA | 146586  |
| 984 | Salmar ASA | 58802  |
| 9907 | Telenor ASA | 183408  |
| 14878 | Var Energi ASA | 55963  |
| 2174 | Vend Marketplaces ASA, Class B Shares | 54568  |
| 47134 | Wallenius Wilhelmsen ASA, Class B Shares | 651726  |
| 2828 | Yara International ASA | 143030  |
|  | Total Norway | 29067332  |
| **Peru – 0.2%**  | **Peru – 0.2%**  | **Peru – 0.2%**  |
| 11574 | Credicorp Ltd. | 4009002  |
| **Philippines – 0.1%**  | **Philippines – 0.1%**  | **Philippines – 0.1%**  |
| 649636 | BDO Unibank Inc. | 1544207  |
| 93860 | SM Investments Corp. | 1147021  |
|  | Total Philippines | 2691228  |
| **Poland – 0.2%**  | **Poland – 0.2%**  | **Poland – 0.2%**  |
| 10677 | Allegro.eu SA<sup>\*(a)</sup> | 82775  |
| 3093 | Bank Polska Kasa Opieki SA | 195958  |
| 7380 | Dino Polska SA<sup>\*(a)</sup> | 83077  |
| 194682 | InPost SA<sup>\*</sup> | 3500132  |
| 2435 | KGHM Polska Miedz SA<sup>\*</sup> | 230033  |

---

See Notes to Financial Statements.

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Poland – (continued)**  | **Poland – (continued)**  | **Poland – (continued)**  |
| 23 | LPP SA | $132726  |
| 198 | mBank SA<sup>\*</sup> | 57283  |
| 10038 | ORLEN SA | 320994  |
| 14016 | Powszechna Kasa Oszczednosci Bank Polski SA | 363045  |
| 9087 | Powszechny Zaklad Ubezpieczen SA | 171625  |
| 564 | Santander Bank Polska SA | 93007  |
|  | Total Poland | 5230655  |
| **Portugal – 0.2%**  | **Portugal – 0.2%**  | **Portugal – 0.2%**  |
| 143297 | Banco Comercial Portugues SA, Class R Shares | 151069  |
| 47661 | EDP SA | 254263  |
| 154433 | Galp Energia SGPS SA | 3323314  |
| 4976 | Jeronimo Martins SGPS SA | 130862  |
| 137405 | NOS SGPS SA | 833591  |
|  | Total Portugal | 4693099  |
| **Russia – 0.0%**  | **Russia – 0.0%**  | **Russia – 0.0%**  |
| 4413 | Novatek PJSC, Class Registered Shares, GDR<sup>\*@(b)(e)</sup> | 88  |
| 1187 | Novatek PJSC, GDR<sup>\*@(b)(e)</sup> | 24  |
| 978392 | Sberbank of Russia PJSC<sup>\*@(b)(e)</sup> | 733  |
|  | Total Russia | 845  |
| **Saudi Arabia – 0.1%**  | **Saudi Arabia – 0.1%**  | **Saudi Arabia – 0.1%**  |
| 242346 | Saudi National Bank | 2692437  |
| **Singapore – 0.5%**  | **Singapore – 0.5%**  | **Singapore – 0.5%**  |
| 4200 | ASMPT Ltd. | 59921  |
| 4100 | BOC Aviation Ltd.<sup>(a)</sup> | 45614  |
| 54000 | CapitaLand Ascendas REIT | 114742  |
| 32300 | CapitaLand Ascott Trust | 24736  |
| 98690 | CapitaLand Integrated Commercial Trust | 190947  |
| 34200 | CapitaLand Investment Ltd. | 82670  |
| 9100 | City Developments Ltd. | 70567  |
| 40900 | ComfortDelGro Corp., Ltd | 50082  |
| 33310 | DBS Group Holdings Ltd. | 1503207  |
| 41400 | Frasers Logistics & Commercial Trust | 32395  |
| 93700 | Genting Singapore Ltd. | 52924  |
| 1100 | Jardine Cycle & Carriage Ltd. | 30710  |
| 40451 | JOYY Inc., ADR | 2413711  |
| 35889 | Keppel DC REIT | 65484  |
| 21100 | Keppel Ltd. | 216925  |
| 59532 | Keppel REIT | 45635  |
| 23500 | Mapletree Industrial Trust | 37881  |
| 51500 | Mapletree Logistics Trust | 52493  |
| 655100 | Mapletree Pan Asia Commercial Trust | 735016  |
| 48500 | NETLINK NBN TRUST | 37952  |
| 3500 | Olam Group Ltd. | 2531  |

---

See Notes to Financial Statements.

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Singapore – (continued)**  | **Singapore – (continued)**  | **Singapore – (continued)**  |
| 53700 | Oversea-Chinese Banking Corp., Ltd | $905787  |
| 14400 | SATS Ltd. | 44593  |
| 22496 | Sea Ltd., ADR<sup>\*</sup> | 2439691  |
| 35865 | Seatrium Ltd. | 67959  |
| 16100 | Sembcorp Industries Ltd. | 77802  |
| 23000 | Singapore Airlines Ltd. | 130244  |
| 13100 | Singapore Exchange Ltd. | 188217  |
| 24300 | Singapore Technologies Engineering Ltd. | 191235  |
| 118300 | Singapore Telecommunications Ltd. | 471153  |
| 37700 | Suntec Real Estate Investment Trust | 42290  |
| 20667 | United Overseas Bank Ltd. | 603481  |
| 8900 | UOL Group Ltd. | 79361  |
| 4500 | Venture Corp., Ltd | 55559  |
| 27300 | Wilmar International Ltd. | 75895  |
| 1657100 | Yangzijiang Financial Holding Ltd. | 405677  |
|  | Total Singapore | 11645087  |
| **South Africa – 0.3%**  | **South Africa – 0.3%**  | **South Africa – 0.3%**  |
| 113424 | Absa Group Ltd. | 1934555  |
| 273030 | FirstRand Ltd. | 1702850  |
| 185824 | Life Healthcare Group Holdings Ltd. | 141434  |
| 14781 | Naspers Ltd., Class N Shares | 831972  |
| 346716 | Telkom SA SOC Ltd. | 1401221  |
|  | Total South Africa | 6012032  |
| **South Korea – 5.4%**  | **South Korea – 5.4%**  | **South Korea – 5.4%**  |
| 669 | Alteogen Inc. | 189418  |
| 466 | Amorepacific Corp. | 48966  |
| 6038 | BGF retail Co., Ltd. | 523304  |
| 2556 | BNK Financial Group Inc. | 35311  |
| 2387 | Celltrion Inc.<sup>\*</sup> | 395110  |
| 473 | Celltrion Pharm Inc. | 23562  |
| 1556 | Cheil Worldwide Inc. | 23705  |
| 192 | CJ CheilJedang Corp. | 28534  |
| 184 | CJ Corp. | 27941  |
| 10143 | CJ Logistics Corp. | 929888  |
| 951 | Coway Co., Ltd.<sup>\*</sup> | 54073  |
| 10954 | D'Alba Global Co., Ltd.<sup>\*</sup> | 1289560  |
| 736 | DB Insurance Co., Ltd. | 93970  |
| 118 | Dongsuh Cos., Inc. | 2248  |
| 928 | Doosan Bobcat Inc.<sup>\*</sup> | 41938  |
| 117 | Doosan Co., Ltd. | 103589  |
| 31053 | Doosan Enerbility Co., Ltd.<sup>\*</sup> | 2296321  |
| 853 | Ecopro BM Co., Ltd.<sup>\*</sup> | 131060  |
| 1815 | Ecopro Co., Ltd.<sup>\*</sup> | 232620  |

---

See Notes to Financial Statements.

114<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **South Korea – (continued)**  | **South Korea – (continued)**  | **South Korea – (continued)**  |
| 211 | Ecopro Materials Co., Ltd.<sup>\*</sup> | $10524  |
| 380 | E-MART Inc. | 27712  |
| 246 | F&F Co., Ltd. | 12080  |
| 1811 | GS Engineering & Construction Corp. | 28152  |
| 23757 | GS Holdings Corp. | 1132704  |
| 1045 | GS Retail Co., Ltd. | 15967  |
| 4640 | Hana Financial Group Inc. | 391798  |
| 505 | Hanjin Kal Corp.<sup>\*</sup> | 54402  |
| 901 | Hankook Tire & Technology Co., Ltd. | 45591  |
| 132 | Hanmi Pharm Co., Ltd.<sup>\*</sup> | 54401  |
| 157 | Hanmi Science Co., Ltd.<sup>\*</sup> | 4752  |
| 655 | Hanmi Semiconductor Co., Ltd. | 146777  |
| 4079 | Hanon Systems<sup>\*</sup> | 13135  |
| 556 | Hanwha Aerospace Co., Ltd. | 461089  |
| 39465 | Hanwha Corp.<sup>\*</sup> | 3686000  |
| 1744 | Hanwha Life Insurance Co., Ltd.<sup>\*</sup> | 5998  |
| 1994 | Hanwha Ocean Co., Ltd.<sup>\*</sup> | 195385  |
| 1609 | Hanwha Solutions Corp.<sup>\*</sup> | 59183  |
| 23382 | Hanwha Systems Co., Ltd.<sup>\*</sup> | 1843163  |
| 774 | Hanwha Vision Co., Ltd.<sup>\*</sup> | 45847  |
| 701 | HD Hyundai Co., Ltd. | 142239  |
| 353 | HD Hyundai Electric Co., Ltd. | 257028  |
| 4639 | HD Hyundai Heavy Industries Co., Ltd. | 1940240  |
| 213 | HD Hyundai Marine Solution Co., Ltd. | 27289  |
| 12501 | HD Korea Shipbuilding & Offshore Engineering Co., Ltd. | 3902753  |
| 661 | HL Mando Co., Ltd. | 28794  |
| 1750 | HLB Inc.<sup>\*</sup> | 63019  |
| 4819 | HMM Co., Ltd. | 71429  |
| 520 | Hotel Shilla Co., Ltd.<sup>\*</sup> | 17303  |
| 72792 | HPSP Co., Ltd. | 2264852  |
| 325 | HYBE Co., Ltd.<sup>\*</sup> | 87521  |
| 80 | Hyosung Heavy Industries Corp. | 156544  |
| 192 | Hyundai Autoever Corp. | 66722  |
| 4558 | Hyundai Department Store Co., Ltd. | 348187  |
| 1268 | Hyundai Engineering & Construction Co., Ltd. | 144739  |
| 15539 | Hyundai Glovis Co., Ltd. | 3121052  |
| 966 | Hyundai Marine & Fire Insurance Co., Ltd.<sup>\*</sup> | 23036  |
| 949 | Hyundai Mobis Co., Ltd. | 341012  |
| 2904 | Hyundai Motor Co. | 1173143  |
| 1144 | Hyundai Rotem Co., Ltd. | 182932  |
| 1743 | Hyundai Steel Co. | 56253  |
| 41493 | iM Financial Group Co., Ltd. | 529872  |
| 3442 | Industrial Bank of Korea | 61468  |

---

See Notes to Financial Statements.

115<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **South Korea – (continued)**  | **South Korea – (continued)**  | **South Korea – (continued)**  |
| 26758 | ISC Co., Ltd. | $3575498  |
| 4959 | Kakao Corp. | 214303  |
| 1210 | Kakao Games Corp.<sup>\*</sup> | 12287  |
| 3172 | KakaoBank Corp. | 59768  |
| 554 | Kakaopay Corp.<sup>\*</sup> | 25751  |
| 1709 | Kangwon Land Inc. | 22772  |
| 5750 | KB Financial Group Inc. | 633800  |
| 112 | KCC Corp. | 50583  |
| 190 | KEPCO Plant Service & Engineering Co., Ltd.<sup>\*</sup> | 8172  |
| 4131 | Kia Corp. | 589154  |
| 13734 | Korea Aerospace Industries Ltd. | 1827824  |
| 3960 | Korea Electric Power Corp. | 160685  |
| 280 | Korea Gas Corp. | 8008  |
| 631 | Korea Investment Holdings Co., Ltd. | 113126  |
| 81 | Korea Zinc Co., Ltd. | 114324  |
| 2382 | Korean Air Lines Co., Ltd.<sup>\*</sup> | 46493  |
| 480 | Krafton Inc.<sup>\*</sup> | 82773  |
| 1607 | KT&G Corp. | 181945  |
| 176 | Kumho Petrochemical Co., Ltd.<sup>\*</sup> | 18737  |
| 26299 | Kumho Tire Co., Inc.<sup>\*</sup> | 127466  |
| 539 | L&F Co., Ltd.<sup>\*</sup> | 46974  |
| 831 | LG Chem Ltd. | 226301  |
| 430 | LG CNS Co., Ltd. | 22214  |
| 1418 | LG Corp. | 105979  |
| 5562 | LG Display Co., Ltd.<sup>\*</sup> | 55308  |
| 1982 | LG Electronics Inc. | 200395  |
| 682 | LG Energy Solution Ltd.<sup>\*</sup> | 201922  |
| 212 | LG H&H Co., Ltd. | 39283  |
| 20476 | LG Innotek Co., Ltd. | 4531212  |
| 3143 | LG Uplus Corp. | 36093  |
| 187 | LIG Nex1 Co., Ltd.<sup>\*</sup> | 66376  |
| 460 | Lotte Chemical Corp. | 30612  |
| 368 | Lotte Shopping Co., Ltd. | 27530  |
| 314 | LS Corp.<sup>\*</sup> | 62150  |
| 242 | LS Electric Co., Ltd. | 132024  |
| 55939 | LX INTERNATIONAL Corp. | 1650867  |
| 1180 | Meritz Financial Group Inc.<sup>\*</sup> | 104172  |
| 3433 | Mirae Asset Securities Co., Ltd. | 171315  |
| 968 | Misto Holdings Corp. | 32674  |
| 2432 | NAVER Corp. | 430112  |
| 276 | NCSoft Corp. | 44299  |
| 451 | Netmarble Corp.<sup>(a)</sup> | 16465  |
| 2677 | NH Investment & Securities Co., Ltd. | 65911  |

---

See Notes to Financial Statements.

116<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **South Korea – (continued)**  | **South Korea – (continued)**  | **South Korea – (continued)**  |
| 66 | NongShim Co., Ltd.<sup>\*</sup> | $19696  |
| 276 | Orion Corp.<sup>\*</sup> | 25556  |
| 5618 | Pan Ocean Co., Ltd. | 20590  |
| 5195 | Park Systems Corp. | 1041857  |
| 607 | Pearl Abyss Corp.<sup>\*</sup> | 22600  |
| 1105 | Posco DX Co., Ltd. | 30118  |
| 481 | POSCO Future M Co., Ltd.<sup>\*</sup> | 82421  |
| 1133 | POSCO Holdings Inc. | 322585  |
| 744 | Posco International Corp. | 37343  |
| 478 | S-1 Corp. | 29144  |
| 1519 | Samsung Biologics Co., Ltd.<sup>\*(a)</sup> | 1873134  |
| 1189 | Samsung C&T Corp. | 289069  |
| 188 | Samsung Card Co., Ltd. | 8227  |
| 136518 | Samsung E&A Co., Ltd. | 3448338  |
| 953 | Samsung Electro-Mechanics Co., Ltd. | 295554  |
| 13242 | Samsung Electronics Co., Ltd. | 1325230  |
| 225556 | Samsung Electronics Co., Ltd. | 33848602  |
| 106 | Samsung Episholdings Co., Ltd.<sup>\*</sup> | 49685  |
| 6608 | Samsung Fire & Marine Insurance Co., Ltd. | 2420830  |
| 10204 | Samsung Heavy Industries Co., Ltd.<sup>\*</sup> | 204847  |
| 1212 | Samsung Life Insurance Co., Ltd. | 193455  |
| 1017 | Samsung SDI Co., Ltd.<sup>\*</sup> | 329752  |
| 628 | Samsung SDS Co., Ltd. | 84842  |
| 8972 | Samsung Securities Co., Ltd. | 664633  |
| 60 | Samyang Foods Co., Ltd. | 50853  |
| 6598 | Shinhan Financial Group Co., Ltd. | 443269  |
| 481 | SK Biopharmaceuticals Co., Ltd.<sup>\*</sup> | 39979  |
| 416 | SK Bioscience Co., Ltd.<sup>\*</sup> | 14144  |
| 30322 | SK hynix Inc. | 22210166  |
| 390 | SK IE Technology Co., Ltd.<sup>\*(a)</sup> | 7284  |
| 560 | SK Inc. | 155737  |
| 1065 | SK Innovation Co., Ltd. | 94367  |
| 1532 | SK Square Co., Ltd.<sup>\*</sup> | 684350  |
| 389 | SKC Co., Ltd.<sup>\*</sup> | 30533  |
| 841 | S-Oil Corp.<sup>\*</sup> | 64357  |
| 11903 | Woori Financial Group Inc. | 297414  |
| 9086 | Youngone Corp. | 611486  |
| 1013 | Yuhan Corp. | 77460  |
|  | Total South Korea | 117336369  |
| **Spain – 1.4%**  | **Spain – 1.4%**  | **Spain – 1.4%**  |
| 396 | Acciona SA | 115595  |
| 3036 | ACS Actividades de Construccion y Servicios SA | 393510  |
| 11182 | Aena SME SA<sup>(a)</sup> | 353009  |

---

See Notes to Financial Statements.

117<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Spain – (continued)**  | **Spain – (continued)**  | **Spain – (continued)**  |
| 62085 | Amadeus IT Group SA | $3854722  |
| 92807 | Banco Bilbao Vizcaya Argentaria SA | 2149697  |
| 86867 | Banco de Sabadell SA | 323694  |
| 243002 | Banco Santander SA | 3042276  |
| 10265 | Bankinter SA | 172062  |
| 585476 | CaixaBank SA | 7283403  |
| 9334 | Cellnex Telecom SA<sup>(a)</sup> | 354124  |
| 796 | Corp. ACCIONA Energias Renovables SA | 20601  |
| 5186 | EDP Renovaveis SA | 81823  |
| 436684 | Enagas SA | 7920296  |
| 5260 | Endesa SA | 214952  |
| 4553 | Grifols SA | 57464  |
| 4065 | Grifols SA, Class B Shares | 36990  |
| 110208 | Iberdrola SA | 2610986  |
| 17947 | Industria de Diseno Textil SA | 1205741  |
| 13582 | Mapfre SA | 62913  |
| 6070 | Merlin Properties Socimi SA | 107350  |
| 4087 | Naturgy Energy Group SA | 127212  |
| 6619 | Redeia Corp. SA | 123062  |
| 18428 | Repsol SA | 414793  |
| 67829 | Telefonica SA | 308525  |
|  | Total Spain | 31334800  |
| **Sweden – 2.6%**  | **Sweden – 2.6%**  | **Sweden – 2.6%**  |
| 3110 | AAK AB | 85221  |
| 3335 | AddTech AB, Class B Shares | 123698  |
| 4262 | Alfa Laval AB | 252719  |
| 28224 | Ambea AB | 405760  |
| 196586 | Assa Abloy AB, Class B Shares | 8422958  |
| 41590 | Atlas Copco AB, Class A Shares | 903360  |
| 23597 | Atlas Copco AB, Class B Shares | 446287  |
| 1634 | Axfood AB | 59547  |
| 6978 | Beijer Ref AB, Class B Shares | 109573  |
| 144734 | Boliden AB<sup>\*</sup> | 11545228  |
| 6203 | Castellum AB | 82555  |
| 958767 | Elekta AB, Class B Shares | 6202532  |
| 9284 | Epiroc AB, Class A Shares | 280559  |
| 7392 | Epiroc AB, Class B Shares | 192935  |
| 9473 | EQT AB | 292584  |
| 116266 | Essity AB, Class B Shares | 3700145  |
| 2238 | Evolution AB<sup>(a)</sup> | 136020  |
| 9511 | Fastighets AB Balder, Class B Shares<sup>\*</sup> | 71527  |
| 292952 | Getinge AB, Class B Shares | 6604193  |
| 7887 | H & M Hennes & Mauritz AB, Class B Shares | 168661  |

---

See Notes to Financial Statements.

118<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Sweden – (continued)**  | **Sweden – (continued)**  | **Sweden – (continued)**  |
| 34074 | Hexagon AB, Class B Shares | $388695  |
| 1350 | Holmen AB, Class B Shares | 53340  |
| 2066 | Industrivarden AB, Class A Shares | 117687  |
| 2211 | Industrivarden AB, Class C Shares | 125419  |
| 4024 | Indutrade AB | 105016  |
| 2486 | Investment AB Latour, Class B Shares | 63698  |
| 7882 | Investor AB, Class A Shares | 326886  |
| 29611 | Investor AB, Class B Shares | 1238341  |
| 1374 | L E Lundbergforetagen AB, Class B Shares | 90301  |
| 3524 | Lifco AB, Class B Shares | 125711  |
| 26122 | Nibe Industrier AB, Class B Shares | 107740  |
| 5802 | Saab AB, Class B Shares | 419654  |
| 3642 | Sagax AB, Class B Shares | 77031  |
| 963 | Sagax AB, Class D Shares | 3738  |
| 47969 | Sandvik AB | 2131061  |
| 7751 | Securitas AB, Class B Shares | 138192  |
| 24545 | Skandinaviska Enskilda Banken AB, Class A Shares<sup>(c)</sup> | 523931  |
| 5786 | Skanska AB, Class B Shares | 177722  |
| 5859 | SKF AB, Class B Shares | 168863  |
| 6237 | Spotify Technology SA<sup>\*</sup> | 3211681  |
| 11605 | SSAB AB, Class B Shares | 102774  |
| 198161 | Svenska Cellulosa AB SCA, Class B Shares | 2695965  |
| 24886 | Svenska Handelsbanken AB, Class A Shares | 398445  |
| 3604 | Sweco AB, Class B Shares | 57762  |
| 13339 | Swedbank AB, Class A Shares<sup>(c)</sup> | 514734  |
| 3076 | Swedish Orphan Biovitrum AB<sup>\*</sup> | 134783  |
| 9594 | Tele2 AB, Class B Shares | 202822  |
| 45045 | Telefonaktiebolaget LM Ericsson, Class B Shares | 523048  |
| 37265 | Telia Co. AB | 191349  |
| 3136 | Trelleborg AB, Class B Shares | 137410  |
| 2667 | Volvo AB, Class A Shares | 103939  |
| 25656 | Volvo AB, Class B Shares<sup>(c)</sup> | 999258  |
| 13221 | Volvo Car AB, Class B Shares<sup>\*</sup> | 36406  |
|  | Total Sweden | 55779464  |
| **Switzerland – 4.9%**  | **Switzerland – 4.9%**  | **Switzerland – 4.9%**  |
| 25701 | ABB Ltd., Class Registered Shares | 2384369  |
| 2750 | Adecco Group AG, Class Registered Shares | 77657  |
| 41771 | Alcon AG | 3669005  |
| 207271 | Amcor PLC | 10038135  |
| 8248 | Amrize Ltd.<sup>\*</sup> | 528187  |
| 1453 | Avolta AG | 95348  |
| 391 | Bachem Holding AG, Class B Shares | 30233  |
| 450 | Banque Cantonale Vaudoise, Class Registered Shares | 69013  |

---

See Notes to Financial Statements.

119<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Switzerland – (continued)**  | **Switzerland – (continued)**  | **Switzerland – (continued)**  |
| 64 | Barry Callebaut AG, Class Registered Shares | $120299  |
| 156 | Belimo Holding AG, Class Registered Shares | 157723  |
| 295 | BKW AG | 58125  |
| 88 | Chocoladefabriken Lindt & Spruengli AG | 1449132  |
| 2 | Chocoladefabriken Lindt & Spruengli AG, Class Registered Shares | 329887  |
| 3301 | Coca-Cola HBC AG<sup>\*</sup> | 213275  |
| 35257 | Compania Financiere Richemont SA, Class Registered Shares | 7148383  |
| 512 | DKSH Holding AG | 41295  |
| 2846 | DSM-Firmenich AG | 203289  |
| 30 | Emmi AG, Class Registered Shares | 31614  |
| 106 | EMS-Chemie Holding AG, Class Registered Shares | 87693  |
| 347 | Flughafen Zurich AG, Class Registered Shares | 118853  |
| 2813 | Galderma Group AG | 533559  |
| 509 | Geberit AG, Class Registered Shares | 426460  |
| 1268 | Georg Fischer AG, Class Registered Shares | 79817  |
| 126 | Givaudan SA, Class Registered Shares | 507117  |
| 986641 | Glencore PLC<sup>\*</sup> | 7100143  |
| 1251 | Helvetia Baloise Holding AG | 324669  |
| 8251 | Holcim AG<sup>\*</sup> | 759446  |
| 187732 | Julius Baer Group Ltd. | 15918056  |
| 779 | Kuehne + Nagel International AG, Class Registered Shares | 180219  |
| 2370 | Logitech International SA, Class Registered Shares | 217883  |
| 1173 | Lonza Group AG, Class Registered Shares | 818539  |
| 41174 | Nestle SA, Class Registered Shares | 4488203  |
| 23200 | Novartis AG, ADR | 3911984  |
| 8179 | Novartis AG, Class Registered Shares | 1382801  |
| 358 | Partners Group Holding AG | 396719  |
| 673 | PSP Swiss Property AG, Class Registered Shares | 145066  |
| 465 | Roche Holding AG | 230733  |
| 25121 | Roche Holding AG | 11993624  |
| 73935 | Sandoz Group AG | 6510994  |
| 5470 | Schindler Holding AG | 2080265  |
| 357 | Schindler Holding AG, Class Registered Shares | 130206  |
| 2764 | SGS SA, Class Registered Shares | 348662  |
| 4817 | SIG Group AG<sup>\*</sup> | 78296  |
| 14996 | Sika AG, Class Registered Shares | 3081658  |
| 9670 | Sonova Holding AG, Class Registered Shares | 2507924  |
| 10816 | STMicroelectronics NV | 363054  |
| 1750 | Straumann Holding AG, Class Registered Shares | 210646  |
| 547 | Swatch Group AG | 139092  |
| 546 | Swatch Group AG, Class Registered Shares | 27275  |
| 475 | Swiss Life Holding AG, Class Registered Shares | 542990  |
| 1308 | Swiss Prime Site AG, Class Registered Shares | 249618  |

---

See Notes to Financial Statements.

120<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Switzerland – (continued)**  | **Switzerland – (continued)**  | **Switzerland – (continued)**  |
| 4884 | Swiss Re AG | $859415  |
| 428 | Swisscom AG, Class Registered Shares | 401505  |
| 140 | Swissquote Group Holding SA, Class Registered Shares | 74903  |
| 819 | Temenos AG, Class Registered Shares | 76139  |
| 242937 | UBS Group AG, Class Registered Shares | 10126028  |
| 431 | VAT Group AG<sup>(a)</sup> | 307457  |
| 90 | VZ Holding AG | 16942  |
| 2325 | Zurich Insurance Group AG | 1750809  |
|  | Total Switzerland | 106150431  |
| **Taiwan – 4.2%**  | **Taiwan – 4.2%**  | **Taiwan – 4.2%**  |
| 137000 | Arcadyan Technology Corp. | 851969  |
| 5702 | ASPEED Technology Inc. | 1743798  |
| 45088 | Chroma ATE Inc. | 1951277  |
| 95007 | Delta Electronics Inc. | 4278477  |
| 178449 | E Ink Holdings Inc. | 1063512  |
| 24146 | eMemory Technology Inc. | 1921643  |
| 34000 | FIT Hon Teng Ltd.<sup>\*(a)</sup> | 27169  |
| 188000 | Hon Hai Precision Industry Co., Ltd. | 1441031  |
| 122000 | ITE Technology Inc. | 476097  |
| 613000 | Kinpo Electronics | 503141  |
| 328000 | Primax Electronics Ltd. | 855252  |
| 225000 | Simplo Technology Co., Ltd. | 2388430  |
| 1352000 | Supreme Electronics Co., Ltd. | 3055713  |
| 273000 | Synnex Technology International Corp. | 625707  |
| 188000 | T3EX Global Holdings Corp. | 385374  |
| 1047338 | Taiwan Semiconductor Manufacturing Co., Ltd. | 65485264  |
| 1659 | Taiwan Semiconductor Manufacturing Co., Ltd., ADR | 621428  |
| 164000 | Tripod Technology Corp. | 2016599  |
| 130000 | Wah Lee Industrial Corp. | 532428  |
| 268000 | WNC Corp. | 1575800  |
| 133000 | WT Microelectronics Co., Ltd. | 767255  |
|  | Total Taiwan | 92567364  |
| **Thailand – 0.1%**  | **Thailand – 0.1%**  | **Thailand – 0.1%**  |
| 1519800 | Regional Container Lines PCL<sup>(b)</sup> | 1503663  |
| 142400 | Thai Beverage PCL | 51743  |
| 2819500 | True Corp. PCL, NVDR | 1314573  |
|  | Total Thailand | 2869979  |
| **Turkey – 0.0%**  | **Turkey – 0.0%**  | **Turkey – 0.0%**  |
| 261427 | Torunlar Gayrimenkul Yatirim Ortakligi AS | 506520  |
| **United Arab Emirates – 0.0%**  | **United Arab Emirates – 0.0%**  | **United Arab Emirates – 0.0%**  |
| 1216816 | Dubai Residential REIT | 463710  |

---

See Notes to Financial Statements.

121<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **United Kingdom – 9.3%**  | **United Kingdom – 9.3%**  | **United Kingdom – 9.3%**  |
| 40980 | 3i Group PLC | $1819974  |
| 4207 | Admiral Group PLC | 167992  |
| 7340 | Airtel Africa PLC<sup>(a)</sup> | 34543  |
| 34824 | Anglo American PLC | 1732980  |
| 6972 | Ashtead Group PLC | 501870  |
| 4682 | Associated British Foods PLC | 124302  |
| 24250 | AstraZeneca PLC | 5054912  |
| 24477 | AstraZeneca PLC | 5155102  |
| 14106 | Auto Trader Group PLC<sup>(a)</sup> | 93563  |
| 50577 | Aviva PLC | 465132  |
| 48954 | BAE Systems PLC | 1406071  |
| 56522 | Balfour Beatty PLC | 576382  |
| 1305181 | Barclays PLC | 7880893  |
| 22663 | Barratt Redrow PLC | 112076  |
| 9913 | Beazley PLC | 168830  |
| 1417 | Berkeley Group Holdings PLC | 82764  |
| 260021 | BP PLC | 1681275  |
| 281026 | Bridgepoint Group PLC | 953704  |
| 34774 | British American Tobacco PLC | 2172486  |
| 14378 | British Land Co. PLC | 79079  |
| 93529 | BT Group PLC, Class A Shares | 272679  |
| 5679 | Bunzl PLC | 167481  |
| 6390 | Burberry Group PLC<sup>\*</sup> | 99465  |
| 3558181 | Centrica PLC | 9555840  |
| 569328 | Chemring Group PLC | 4089115  |
| 595605 | CNH Industrial NV | 7325941  |
| 3623 | Coca-Cola Europacific Partners PLC | 398850  |
| 27512 | Compass Group PLC | 848150  |
| 21268 | Computacenter PLC | 908448  |
| 29757 | Convatec Group PLC<sup>(a)</sup> | 103472  |
| 19527 | Croda International PLC | 812336  |
| 595647 | Currys PLC | 1292530  |
| 170585 | Diageo PLC | 3814071  |
| 2036 | Diploma PLC | 155687  |
| 204980 | Drax Group PLC | 2451218  |
| 450043 | easyJet PLC | 2804909  |
| 3148 | Endeavour Mining PLC | 226666  |
| 9845 | Entain PLC | 76344  |
| 237118 | Firstgroup PLC | 587923  |
| 65941 | GSK PLC | 1955747  |
| 1456459 | Haleon PLC | 7973786  |
| 6260 | Halma PLC | 351464  |
| 2836 | Hikma Pharmaceuticals PLC | 49989  |

---

See Notes to Financial Statements.

122<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **United Kingdom – (continued)**  | **United Kingdom – (continued)**  | **United Kingdom – (continued)**  |
| 9170 | Howden Joinery Group PLC | $119809  |
| 280694 | HSBC Holdings PLC | 5275926  |
| 4512 | ICG PLC | 101805  |
| 132034 | IMI PLC | 5147201  |
| 12864 | Imperial Brands PLC | 576315  |
| 91160 | Inchcape PLC | 1091618  |
| 21794 | Informa PLC | 245501  |
| 2421 | InterContinental Hotels Group PLC | 332887  |
| 39283 | International Consolidated Airlines Group SA | 224474  |
| 2539 | Intertek Group PLC | 161155  |
| 28437 | J Sainsbury PLC | 133961  |
| 38702 | JD Sports Fashion PLC | 42536  |
| 116851 | JET2 PLC | 1972784  |
| 55219 | Keller Group PLC | 1500168  |
| 29774 | Kingfisher PLC | 148648  |
| 13397 | Land Securities Group PLC | 116256  |
| 2136072 | Legal & General Group PLC | 7784494  |
| 3441192 | Lloyds Banking Group PLC | 4721267  |
| 49040 | London Stock Exchange Group PLC | 5822398  |
| 2756198 | LondonMetric Property PLC | 7967932  |
| 2091966 | M&G PLC | 8924422  |
| 32689 | Marks & Spencer Group PLC | 173899  |
| 20772 | Melrose Industries PLC | 159261  |
| 6459 | Mondi PLC | 76902  |
| 82092 | National Grid PLC | 1538806  |
| 1040970 | NatWest Group PLC | 8678096  |
| 1869 | Next PLC | 340638  |
| 309651 | Patisserie Holdings PLC<sup>\*(b)(e)</sup> | 4173  |
| 10518 | Pearson PLC | 135941  |
| 5491 | Persimmon PLC | 111482  |
| 13431 | Phoenix Group Holdings PLC | 138254  |
| 671668 | QinetiQ Group PLC | 4557033  |
| 40355 | Reckitt Benckiser Group PLC | 3541449  |
| 152494 | RELX PLC | 5290507  |
| 40528 | Rentokil Initial PLC | 249567  |
| 11905 | Rightmove PLC | 71850  |
| 16739 | Rio Tinto PLC | 1664032  |
| 138952 | Rolls-Royce Holdings PLC | 2535033  |
| 16224 | Sage Group PLC | 179739  |
| 11161 | Schroders PLC | 87807  |
| 175474 | Segro PLC | 1987284  |
| 4646 | Severn Trent PLC | 205334  |
| 94534 | Shell PLC | 3931278  |

---

See Notes to Financial Statements.

123<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **United Kingdom – (continued)**  | **United Kingdom – (continued)**  | **United Kingdom – (continued)**  |
| 212758 | Smith & Nephew PLC | $3923090  |
| 5369 | Smiths Group PLC | 197765  |
| 16299 | Spirax Group PLC | 1735170  |
| 19486 | SSE PLC | 706576  |
| 477497 | St James's Place PLC | 8659635  |
| 399186 | Standard Chartered PLC | 9842227  |
| 55156 | Taylor Wimpey PLC | 83952  |
| 104671 | Tesco PLC | 675710  |
| 85778 | Unilever PLC | 6309726  |
| 5716 | UNITE Group PLC | 38792  |
| 10887 | United Utilities Group PLC | 204507  |
| 4381 | Verisure PLC<sup>\*</sup> | 48876  |
| 304597 | Vodafone Group PLC | 470130  |
| 4152 | Weir Group PLC | 197232  |
| 2764 | Whitbread PLC | 96396  |
| 14904 | Willis Towers Watson PLC | 4548254  |
| 11589 | Wise PLC, Class A Shares<sup>\*</sup> | 133892  |
| 18785 | WPP PLC | 69819  |
| 12330 | YuLife Holdings Ltd., Private Placement, Class C Shares<sup>\*@(b)(e)</sup> | 151543  |
| 201385 | Zigup PLC | 1113217  |
|  | Total United Kingdom | 203862472  |
| **United States – 1.1%**  | **United States – 1.1%**  | **United States – 1.1%**  |
| 29375 | Agilent Technologies Inc. | 3565537  |
| 2394 | BeOne Medicines Ltd., ADR<sup>\*</sup> | 758874  |
| 2500 | Broadcom Inc. | 798875  |
| 6357 | Brookfield Asset Management Ltd., Class A Shares | 296766  |
| 572 | Canva Inc., Private Placement<sup>\*@(b)(e)</sup> | 855952  |
| 122760 | Codere Online Luxembourg SA Private Shares<sup>\*(b)</sup> | 994356  |
| 76169 | Coupang Inc., Class A Shares<sup>\*</sup> | 1453305  |
| 31633 | Dauch Corp.<sup>\*</sup> | 198657  |
| 13870 | GQG Partners Inc., CDI | 18133  |
| 1350 | Light & Wonder Inc., CDI<sup>\*</sup> | 128698  |
| 1864 | Mastercard Inc., Class A Shares | 964079  |
| 7670 | Philip Morris International Inc. | 1432986  |
| 2800 | RB Global Inc.<sup>(b)</sup> | 282011  |
| 5221 | Restaurant Brands International Inc. | 374498  |
| 20700 | Samsonite Group SA<sup>(a)</sup> | 51008  |
| 228718 | Sensata Technologies Holding PLC | 8540330  |
| 8557 | Waters Corp.<sup>\*</sup> | 2732935  |
|  | Total United States | 23447000  |
| **Uruguay – 0.1%**  | **Uruguay – 0.1%**  | **Uruguay – 0.1%**  |
| 1793 | MercadoLibre Inc.<sup>\*</sup> | 3151341  |

---

See Notes to Financial Statements.

124<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Vietnam – 0.1%**  | **Vietnam – 0.1%**  | **Vietnam – 0.1%**  |
| 811560 | Asia Commercial Bank JSC | $764203  |
| 158000 | Bank for Foreign Trade of Vietnam JSC | 393280  |
| 627200 | Hoa Phat Group JSC<sup>\*</sup> | 693356  |
| 380300 | Military Commercial Joint Stock Bank | 415607  |
|  | Total Vietnam | 2266446  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>**(Cost - $1,300,040,363)** | **1992030580**  |
| **EXCHANGE TRADED FUNDS (ETFs) – 6.9%**  | **EXCHANGE TRADED FUNDS (ETFs) – 6.9%**  | **EXCHANGE TRADED FUNDS (ETFs) – 6.9%**  |
| **United States – 6.9%**  | **United States – 6.9%**  | **United States – 6.9%**  |
| 491399 | Avantis Emerging Markets Equity | 43587091  |
| 1237340 | iShares Core MSCI Emerging Markets | 94978219  |
| 134795 | iShares MSCI EAFE Value | 10751249  |
| 11886 | Vanguard FTSE All World ex-US Small-Capital | 1902354  |
|  | Total United States | 151218913  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL EXCHANGE TRADED FUNDS (ETFs)** <br>**(Cost – $122,276,171)** | **151218913**  |
| **PREFERRED STOCKS – 0.3%**  | **PREFERRED STOCKS – 0.3%**  | **PREFERRED STOCKS – 0.3%**  |
| **Germany – 0.3%**  | **Germany – 0.3%**  | **Germany – 0.3%**  |
| 134521 | Dr Ing hc F Porsche AG<sup>(a)</sup> | 6576336  |
| **United States – 0.0%**  | **United States – 0.0%**  | **United States – 0.0%**  |
| 31 | Canva Inc., Series A, Private Placement<sup>\*@(b)(e)</sup> | 46389  |
| 1 | Canva Inc., Series A-3, Private Placement<sup>\*@(b)(e)</sup> | 1496  |
|  | Total United States | 47885  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL PREFERRED STOCKS** <br>**(Cost – $6,854,593)** | **6624221**  |
| **WARRANTS – 0.0%**  | **WARRANTS – 0.0%**  | **WARRANTS – 0.0%**  |
| **Canada – 0.0%**  | **Canada – 0.0%**  | **Canada – 0.0%**  |
| 2323 | Constellation Software Inc.<sup>\*(e)</sup> | —  |
| **United States – 0.0%**  | **United States – 0.0%**  | **United States – 0.0%**  |
| 915 | Codere Online Luxembourg SA<sup>\*</sup> | 568  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL WARRANTS** <br>**(Cost – $0)** | **568**  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS** <br>**(Cost - $1,429,171,127)** | **2149874282** |

---

---

| | | |
|:---|:---|:---|
| **Face Amount†** |  |  |
| **SHORT-TERM INVESTMENTS – 1.3%**  | **SHORT-TERM INVESTMENTS – 1.3%**  | **SHORT-TERM INVESTMENTS – 1.3%**  |
| **TIME DEPOSITS – 0.8%**  | **TIME DEPOSITS – 0.8%**  | **TIME DEPOSITS – 0.8%**  |
|  | ANZ National Bank - Hong Kong:<br>|  |
| 4379866<sup>HKD</sup> | 0.660% due 3/2/26 | 559845  |
| 558154<sup>AUD</sup> | 2.500% due 3/2/26 | 397182  |
|  | Brown Brothers Harriman - Grand Cayman:<br>|  |
| 1<sup>SGD</sup> | 0.280% due 3/2/26 | 1  |
| 4<sup>DKK</sup> | 0.650% due 3/2/26 | 1 |

---

See Notes to Financial Statements.

125<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount†**  | **Security** | **Value** |
| **SHORT-TERM INVESTMENTS – (continued)**  | **SHORT-TERM INVESTMENTS – (continued)**  | **SHORT-TERM INVESTMENTS – (continued)**  |
| **TIME DEPOSITS – (continued)**  | **TIME DEPOSITS – (continued)**  | **TIME DEPOSITS – (continued)**  |
| 515679<sup>CAD</sup> | &nbsp;&nbsp;&nbsp; 1.100% due 3/2/26 | $377981  |
| 28063<sup>NZD</sup> | &nbsp;&nbsp;&nbsp; 1.400% due 3/2/26 | 16832  |
| 1460621<sup>NOK</sup> | &nbsp;&nbsp;&nbsp; 2.700% due 3/2/26 | 153598  |
| 29812<sup>ZAR</sup> | &nbsp;&nbsp;&nbsp; 4.400% due 3/2/26 | 1872  |
|  | Citibank - London:<br>|  |
| 1478575<sup>EUR</sup> | &nbsp;&nbsp;&nbsp; 0.880% due 3/2/26 | 1747084  |
| 404637<sup>GBP</sup> | &nbsp;&nbsp;&nbsp; 2.680% due 3/2/26 | 545309  |
| 673539 | Citibank - New York, 2.980% due 3/2/26 | 673539  |
| 127694<sup>SGD</sup> | Hong Kong & Shanghai Bank - Singapore, 0.280% due 3/2/26 | 100948  |
| 8433643 | JPMorgan Chase & Co. - New York, 2.980% due 3/2/26 | 8433643  |
|  | Skandinaviska Enskilda Banken AB - Stockholm:<br>|  |
| 4487<sup>CHF</sup> | &nbsp;&nbsp;&nbsp; (0.430)% due 3/2/26 | 5837  |
| 679208<sup>DKK</sup> | &nbsp;&nbsp;&nbsp; 0.650% due 3/2/26 | 107408  |
| 73436<sup>SEK</sup> | &nbsp;&nbsp;&nbsp; 0.670% due 3/2/26 | 8134  |
| 2140856 | &nbsp;&nbsp;&nbsp; 2.980% due 3/2/26 | 2140856  |
| 160907351<sup>JPY</sup> | Sumitomo Mitsui Banking Corp. - Tokyo, 0.200% due 3/2/26 | 1030434  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL TIME DEPOSITS** <br>**(Cost – $16,300,504)** | **16300504**  |
| **U.S. GOVERNMENT AGENCY – 0.5%**  | **U.S. GOVERNMENT AGENCY – 0.5%**  | **U.S. GOVERNMENT AGENCY – 0.5%**  |
| 11270000 | &nbsp;&nbsp;&nbsp; Federal Home Loan Bank Discount Notes, 3.481% due 3/2/26<sup>(f)</sup> <br>(Cost – $11,268,910) | 11268910  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL SHORT-TERM INVESTMENTS** <br>**(Cost – $27,569,414)** | **27569414** |

---

---

| | | |
|:---|:---|:---|
| **Shares/Units**  |  |  |
| **INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 0.7%**  | **INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 0.7%**  | **INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 0.7%**  |
| **MONEY MARKET FUND – 0.7%**  | **MONEY MARKET FUND – 0.7%**  | **MONEY MARKET FUND – 0.7%**  |
| 15763800 | &nbsp;&nbsp;&nbsp; Federated Government Obligations Fund, Premier Class, 3.593%<sup>(g)</sup> <br>(Cost – $15,763,800) | 15763800  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS - 100.4%** <br>**(Cost - $1,472,504,341)** | **2193207496**  |
|  | Liabilities in Excess of Other Assets – (0.4)% | (9474242)  |
|  | **TOTAL NET ASSETS – 100.0%** | **$2183733254** |

---

&nbsp;&nbsp;&nbsp;&nbsp;† Face amount denominated in U.S. dollars, unless
 otherwise noted.

\* Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(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 February 28, 2026, amounts to $53,891,297 and represents 2.47% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Illiquid security. The aggregate value of illiquid
 holdings at February 28, 2026, amounts to $4,465,095 and represents 0.20% of net assets.

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

&nbsp;&nbsp;&nbsp;&nbsp;(d) Security trades on the Hong Kong exchange.

See Notes to Financial Statements.

126<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(continued)** 

&nbsp;&nbsp;&nbsp;&nbsp;(e) Security is valued in good faith at fair value
 by or under the direction of the Board of Trustees using significant unobservable inputs.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Rate shown represents yield-to-maturity.

&nbsp;&nbsp;&nbsp;&nbsp;(g) 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** <br>**Acquisition** <br>**Date** | **First** <br>**Acquisition** <br>**Cost** | **Market**<br>**Value** | **Percent of**<br>**Net Assets**  |
| Canva Inc., Private Placement | 8/16/2021 | $397070 | $855952 | &nbsp;&nbsp;&nbsp; 0.04%  |
| Canva Inc., Series A, Private Placement | 11/4/2021 | 52848 | 46389 | &nbsp;&nbsp;&nbsp; 0.00%<sup>\*</sup>  |
| Canva Inc., Series A-3, Private Placement | 11/4/2021 | 1705 | 1496 | &nbsp;&nbsp;&nbsp; 0.00%<sup>\*</sup>  |
| Novatek PJSC, Class Registered Shares, GDR | 3/19/2020 | 251081 | 88 | &nbsp;&nbsp;&nbsp; 0.00%<sup>\*</sup>  |
| Novatek PJSC, GDR | 4/25/2022 | 52881 | 24 | &nbsp;&nbsp;&nbsp; 0.00%<sup>\*</sup>  |
| Sberbank of Russia PJSC | 4/6/2017 | 557253 | 733 | &nbsp;&nbsp;&nbsp; 0.00%<sup>\*</sup>  |
| YuLife Holdings Ltd., Private Placement, Class C Shares | 10/11/2022 | 243652 | 151543 | &nbsp;&nbsp;&nbsp; 0.01%  |
| Tongcheng Travel Holdings Ltd. | 3/28/2025 | 118294 | 1409277 | &nbsp;&nbsp;&nbsp;&nbsp;0.06% |
|  |  |  | **$2465502** | &nbsp;&nbsp;&nbsp; **0.11%** |

---

\* Position represents less than 0.005% 

<u>Abbreviations used in this schedule:</u>

ADR — American Depositary Receipts

CDI — Clearing House Electronics Systems (CHESS) Depositary Interest

GDR — Global Depositary Receipts

NVDR — Non Voting Depository Receipts

PCL — Public Company Limited

PLC — Public Limited Company

REIT — Real Estate Investment Trust

**<u>Summary of Investments by Security Sector^</u>** 

---

| | |
|:---|:---|
| Financial | 20.8%  |
| Industrial | 19.7  |
| Consumer Non-cyclical | 12.0  |
| Technology | 10.3  |
| Basic Materials | 7.9  |
| Consumer Cyclical | 7.6  |
| Communications | 4.8  |
| Energy | 4.3  |
| Utilities | 3.7  |
| Diversified | 0.0<sup>\*</sup>  |
| Exchange Traded Funds (ETFs) | 6.9  |
| Short-Term Investments | 1.3  |
| Money Market Fund | 0.7  |
|  | 100.0% |

---

---

| | |
|:---|:---|
| ^<br>| As a percentage of total investments. |

---

\* Position represents less than 0.05%. 

See Notes to Financial Statements.

127<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations International Equity Fund(concluded)** 

At February 28, 2026, Destinations International Equity Fund had open exchange traded futures contracts as described below.

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Open Futures Contracts** | **Number of**<br>**Contracts** | **Expiration**<br>**Date (Month/Year)** | **Notional**<br>**Amounts** | **Market Value** | **Unrealized** <br>**Appreciation**  |
| **Contracts to Buy:**<br>|  |  |  |  |  |
| MSCI EAFE Index March Futures | &nbsp;&nbsp;&nbsp;&nbsp; 37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26 | $5395376 | $5855435 | $460059 |

---

At February 28, 2026, Destinations International Equity Fund had deposited cash of $287,359 with a broker or brokers as margin collateral on open exchange traded futures contracts.

<u>Currency Abbreviations used in this schedule:</u>

AUD — Australian Dollar

CAD — Canadian Dollar

CHF — Swiss Franc

DKK — Danish Krone

---

| | |
|:---|:---|
| EUR<br>| — Euro<br>|

---

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

See Notes to Financial Statements.

128<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations Equity Income Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – 83.1%**  | **COMMON STOCKS – 83.1%**  | **COMMON STOCKS – 83.1%**  |
| **BASIC MATERIALS – 3.6%**  | **BASIC MATERIALS – 3.6%**  | **BASIC MATERIALS – 3.6%**  |
| **Chemicals – 0.9%**  | **Chemicals – 0.9%**  | **Chemicals – 0.9%**  |
| 24881  | DSM-Firmenich AG  | $1777242  |
| 41100  | Nutrien Ltd.  | 3085377  |
|  | Total Chemicals | 4862619  |
| **Mining – 2.7%**  | **Mining – 2.7%**  | **Mining – 2.7%**  |
| 21138  | Agnico Eagle Mines Ltd.  | 5318321  |
| 73840  | BHP Group Ltd.  | 3010921  |
| 6353  | Southern Copper Corp.  | 1386860  |
| 33790  | Valterra Platinum Ltd.  | 4013685  |
|  | Total Mining | 13729787  |
|  | **TOTAL BASIC MATERIALS** | **18592406**  |
| **COMMUNICATIONS – 6.2%**  | **COMMUNICATIONS – 6.2%**  | **COMMUNICATIONS – 6.2%**  |
| **Advertising – 0.3%**  | **Advertising – 0.3%**  | **Advertising – 0.3%**  |
| 16646  | Publicis Groupe SA  | 1484184  |
| **Internet – 1.0%**  | **Internet – 1.0%**  | **Internet – 1.0%**  |
| 8683  | Alphabet Inc., Class A Shares  | 2707012  |
| 3592  | Meta Platforms Inc., Class A Shares  | 2328263  |
|  | Total Internet | 5035275  |
| **Media – 0.8%**  | **Media – 0.8%**  | **Media – 0.8%**  |
| 98750  | Informa PLC  | 1112380  |
| 30311  | Walt Disney Co.  | 3214179  |
|  | Total Media | 4326559  |
| **Telecommunications – 4.1%**  | **Telecommunications – 4.1%**  | **Telecommunications – 4.1%**  |
| 82890  | AT&T Inc.  | 2321749  |
| 31797  | Cisco Systems Inc.  | 2526590  |
| 36500  | Deutsche Telekom AG, Class Registered Shares  | 1468821  |
| 663400  | Singapore Telecommunications Ltd.  | 2642119  |
| 118991  | Telenor ASA  | 2202874  |
| 23005  | T-Mobile US Inc.  | 4994155  |
| 106000  | Verizon Communications Inc.  | 5314840  |
|  | Total Telecommunications | 21471148  |
|  | **TOTAL COMMUNICATIONS** | **32317166**  |
| **CONSUMER CYCLICAL – 4.2%**  | **CONSUMER CYCLICAL – 4.2%**  | **CONSUMER CYCLICAL – 4.2%**  |
| **Auto Manufacturers – 0.5%**  | **Auto Manufacturers – 0.5%**  | **Auto Manufacturers – 0.5%**  |
| 31620  | General Motors Co.  | 2488810  |
| **Distribution/Wholesale – 0.6%**  | **Distribution/Wholesale – 0.6%**  | **Distribution/Wholesale – 0.6%**  |
| 69000  | Mitsui & Co., Ltd.  | 2587655  |
| 1135  | Watsco Inc.  | 473669  |
|  | Total Distribution/Wholesale | 3061324  |
| **Entertainment – 0.3%**  | **Entertainment – 0.3%**  | **Entertainment – 0.3%**  |
| 68491  | Universal Music Group NV  | 1546443  |

---

See Notes to Financial Statements.

129<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations Equity Income Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER CYCLICAL – (continued)**  | **CONSUMER CYCLICAL – (continued)**  | **CONSUMER CYCLICAL – (continued)**  |
| **Retail – 2.8%**  | **Retail – 2.8%**  | **Retail – 2.8%**  |
| 23825  | Best Buy Co., Inc.  | $1476435  |
| 12287  | Darden Restaurants Inc.  | 2627575  |
| 11699  | Home Depot Inc.  | 4454043  |
| 24127  | Industria de Diseno Textil SA  | 1620935  |
| 4420  | McDonald's Corp.<sup>(a)</sup>  | 1507485  |
| 21246  | Walmart Inc.  | 2718426  |
|  | Total Retail | 14404899  |
|  | **TOTAL CONSUMER CYCLICAL** | **21501476**  |
| **CONSUMER NON-CYCLICAL – 17.2%**  | **CONSUMER NON-CYCLICAL – 17.2%**  | **CONSUMER NON-CYCLICAL – 17.2%**  |
| **Agriculture – 2.6%**  | **Agriculture – 2.6%**  | **Agriculture – 2.6%**  |
| 22000  | Altria Group Inc.  | 1518880  |
| 106100  | British American Tobacco PLC  | 6628537  |
| 27568  | Philip Morris International Inc.  | 5150529  |
|  | Total Agriculture | 13297946  |
| **Beverages – 2.3%**  | **Beverages – 2.3%**  | **Beverages – 2.3%**  |
| 69528  | Coca-Cola Co.  | 5670704  |
| 19168  | Heineken NV  | 1776074  |
| 25300  | PepsiCo Inc.  | 4294422  |
|  | Total Beverages | 11741200  |
| **Biotechnology – 1.0%**  | **Biotechnology – 1.0%**  | **Biotechnology – 1.0%**  |
| 7682  | Amgen Inc.  | 2981845  |
| 3049  | Regeneron Pharmaceuticals Inc.  | 2383312  |
|  | Total Biotechnology | 5365157  |
| **Cosmetics/Personal Care – 0.8%**  | **Cosmetics/Personal Care – 0.8%**  | **Cosmetics/Personal Care – 0.8%**  |
| 475419  | Haleon PLC  | 2602812  |
| 10427  | Procter & Gamble Co.  | 1743395  |
|  | Total Cosmetics/Personal Care | 4346207  |
| **Food – 1.6%**  | **Food – 1.6%**  | **Food – 1.6%**  |
| 11087  | Hershey Co.  | 2619636  |
| 18097  | McCormick & Co., Inc.  | 1285611  |
| 70870  | Mondelez International Inc., Class A Shares  | 4364175  |
|  | Total Food | 8269422  |
| **Healthcare-Products – 0.6%**  | **Healthcare-Products – 0.6%**  | **Healthcare-Products – 0.6%**  |
| 28183  | Abbott Laboratories  | 3279092  |
| **Healthcare-Services – 0.7%**  | **Healthcare-Services – 0.7%**  | **Healthcare-Services – 0.7%**  |
| 6688  | Elevance Health Inc.  | 2140160  |
| 75150  | Sonic Healthcare Ltd.  | 1277959  |
|  | Total Healthcare-Services | 3418119  |
| **Household Products/Wares – 0.4%**  | **Household Products/Wares – 0.4%**  | **Household Products/Wares – 0.4%**  |
| 19800  | Kimberly-Clark Corp.  | 2206512  |

---

See Notes to Financial Statements.

130<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations Equity Income Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  |
| **Pharmaceuticals – 7.2%**  | **Pharmaceuticals – 7.2%**  | **Pharmaceuticals – 7.2%**  |
| 17272  | AbbVie Inc.  | $4008486  |
| 29439  | AstraZeneca PLC  | 6162171  |
| 42697  | Merck & Co., Inc.  | 5286742  |
| 225575  | Pfizer Inc.  | 6237149  |
| 5297  | Roche Holding AG  | 2528969  |
| 51406  | Roche Holding AG, ADR<sup>(b)</sup>  | 3061227  |
| 78965  | Sanofi SA  | 7669276  |
| 6950  | UCB SA  | 2070878  |
|  | Total Pharmaceuticals | 37024898  |
|  | **TOTAL CONSUMER NON-CYCLICAL** | **88948553**  |
| **ENERGY – 9.4%**  | **ENERGY – 9.4%**  | **ENERGY – 9.4%**  |
| **Oil & Gas – 6.2%**  | **Oil & Gas – 6.2%**  | **Oil & Gas – 6.2%**  |
| 53823  | Chevron Corp.  | 10051983  |
| 12115  | ConocoPhillips<sup>(a)</sup>  | 1374568  |
| 8505  | Expand Energy Corp.  | 917860  |
| 49634  | Exxon Mobil Corp.  | 7569185  |
| 59290  | Noble Corp. PLC  | 2693545  |
| 60548  | Shell PLC  | 2517941  |
| 91105  | TotalEnergies SE  | 7284395  |
|  | Total Oil & Gas | 32409477  |
| **Pipelines – 3.2%**  | **Pipelines – 3.2%**  | **Pipelines – 3.2%**  |
| 10847  | Cheniere Energy Inc.  | 2556963  |
| 106625  | Enbridge Inc.  | 5663794  |
| 14600  | Pembina Pipeline Corp.<sup>\*</sup>  | 642254  |
| 3130  | Targa Resources Corp.  | 738054  |
| 74426  | TC Energy Corp.  | 4781528  |
| 28286  | Williams Cos., Inc.  | 2113530  |
|  | Total Pipelines | 16496123  |
|  | **TOTAL ENERGY** | **48905600**  |
| **FINANCIAL – 20.0%**  | **FINANCIAL – 20.0%**  | **FINANCIAL – 20.0%**  |
| **Banks – 10.2%**  | **Banks – 10.2%**  | **Banks – 10.2%**  |
| 43295  | Bank of America Corp.  | 2157390  |
| 18575  | Bank of Montreal  | 2672769  |
| 41650  | Fifth Third Bancorp  | 2060425  |
| 1601  | Goldman Sachs Group Inc.  | 1376172  |
| 136290  | Huntington Bancshares Inc.  | 2289672  |
| 86832  | ING Groep NV  | 2505037  |
| 19636  | JPMorgan Chase & Co.<sup>(a)</sup>  | 5896691  |
| 12095  | Morgan Stanley  | 2013938  |
| 127727  | Nordea Bank Abp  | 2477440  |
| 140856  | Oversea-Chinese Banking Corp., Ltd.  | 2375896  |
| 23904  | PNC Financial Services Group Inc.  | 5076014  |

---

See Notes to Financial Statements.

131<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations Equity Income Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  |
| **Banks – (continued)**  | **Banks – (continued)**  | **Banks – (continued)**  |
| 140880  | Sumitomo Mitsui Trust Group Inc.  | $4936772  |
| 92404  | Truist Financial Corp.  | 4556441  |
| 97293  | US Bancorp  | 5318035  |
| 84586  | Wells Fargo & Co.  | 6889530  |
|  | Total Banks | 52602222  |
| **Diversified Financial Services – 1.4%**  | **Diversified Financial Services – 1.4%**  | **Diversified Financial Services – 1.4%**  |
| 16575  | CME Group Inc., Class A Shares<sup>(a)</sup>  | 5295712  |
| 7896  | Deutsche Boerse AG  | 2167743  |
|  | Total Diversified Financial Services | 7463455  |
| **Equity Real Estate Investment Trusts (REITs) – 4.8%**  | **Equity Real Estate Investment Trusts (REITs) – 4.8%**  | **Equity Real Estate Investment Trusts (REITs) – 4.8%**  |
| 20000  | American Tower Corp.  | 3837200  |
| 157885  | Brixmor Property Group Inc.  | 4779179  |
| 68900  | Invitation Homes Inc.  | 1814826  |
| 203575  | Kimco Realty Corp.  | 4794191  |
| 47637  | NNN REIT Inc.  | 2158909  |
| 36925  | Prologis Inc.  | 5264397  |
| 9800  | Terreno Realty Corp.  | 647388  |
| 15985  | Ventas Inc.  | 1377268  |
|  | Total Equity Real Estate Investment Trusts (REITs) | 24673358  |
| **Insurance – 3.2%**  | **Insurance – 3.2%**  | **Insurance – 3.2%**  |
| 10769  | Allianz SE, Class Registered Shares  | 4862345  |
| 31690  | American International Group Inc.  | 2550728  |
| 1750  | Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Class Registered Shares  | 1148455  |
| 28731  | NN Group NV  | 2339888  |
| 316174  | Prudential PLC  | 4812587  |
| 14565  | Unum Group  | 1044747  |
|  | Total Insurance | 16758750  |
| **Real Estate – 0.4%**  | **Real Estate – 0.4%**  | **Real Estate – 0.4%**  |
| 1371000  | Hang Lung Properties Ltd.  | 1797531  |
|  | **TOTAL FINANCIAL** | **103295316**  |
| **INDUSTRIAL – 8.1%**  | **INDUSTRIAL – 8.1%**  | **INDUSTRIAL – 8.1%**  |
| **Aerospace/Defense – 1.7%**  | **Aerospace/Defense – 1.7%**  | **Aerospace/Defense – 1.7%**  |
| 8356  | Airbus SE  | 1812858  |
| 93315  | BAE Systems PLC  | 2680220  |
| 5418  | General Dynamics Corp.  | 1934497  |
| 7175  | RTX Corp.  | 1453798  |
| 109600  | Singapore Technologies Engineering Ltd.  | 862524  |
|  | Total Aerospace/Defense | 8743897  |
| **Building Materials – 1.4%**  | **Building Materials – 1.4%**  | **Building Materials – 1.4%**  |
| 13750  | CRH PLC  | 1649725  |
| 9074  | Heidelberg Materials AG  | 2031670  |

---

See Notes to Financial Statements.

132<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations Equity Income Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **INDUSTRIAL – (continued)**  | **INDUSTRIAL – (continued)**  | **INDUSTRIAL – (continued)**  |
| **Building Materials – (continued)**  | **Building Materials – (continued)**  | **Building Materials – (continued)**  |
| 94300  | Mitsubishi Electric Corp.  | $3601528  |
|  | Total Building Materials | 7282923  |
| **Electrical Components & Equipment – 1.2%**  | **Electrical Components & Equipment – 1.2%**  | **Electrical Components & Equipment – 1.2%**  |
| 8692  | Eaton Corp. PLC<sup>(a)</sup>  | 3267497  |
| 20935  | Emerson Electric Co.  | 3155951  |
|  | Total Electrical Components & Equipment | 6423448  |
| **Engineering & Construction – 0.8%**  | **Engineering & Construction – 0.8%**  | **Engineering & Construction – 0.8%**  |
| 54945  | Ferrovial SE  | 4119564  |
| **Miscellaneous Manufacturers – 0.4%**  | **Miscellaneous Manufacturers – 0.4%**  | **Miscellaneous Manufacturers – 0.4%**  |
| 6551  | Siemens AG, Class Registered Shares  | 1914657  |
| **Packaging & Containers – 1.7%**  | **Packaging & Containers – 1.7%**  | **Packaging & Containers – 1.7%**  |
| 93575  | Amcor PLC  | 4531837  |
| 5475  | Packaging Corp. of America  | 1270967  |
| 59281  | Smurfit Westrock PLC  | 2786800  |
|  | Total Packaging & Containers | 8589604  |
| **Transportation – 0.9%**  | **Transportation – 0.9%**  | **Transportation – 0.9%**  |
| 52648  | Deutsche Post AG  | 3119943  |
| 5595  | Union Pacific Corp.  | 1482563  |
|  | Total Transportation | 4602506  |
|  | **TOTAL INDUSTRIAL** | **41676599**  |
| **TECHNOLOGY – 4.0%**  | **TECHNOLOGY – 4.0%**  | **TECHNOLOGY – 4.0%**  |
| **Computers – 0.6%**  | **Computers – 0.6%**  | **Computers – 0.6%**  |
| 27700  | Amdocs Ltd.  | 1933460  |
| 6337  | International Business Machines Corp.  | 1522211  |
|  | Total Computers | 3455671  |
| **Semiconductors – 2.5%**  | **Semiconductors – 2.5%**  | **Semiconductors – 2.5%**  |
| 6688  | Analog Devices Inc.  | 2379524  |
| 10042  | Broadcom Inc.  | 3208921  |
| 33839  | Samsung Electronics Co., Ltd.  | 3386531  |
| 18839  | Texas Instruments Inc.  | 3995940  |
|  | Total Semiconductors | 12970916  |
| **Software – 0.9%**  | **Software – 0.9%**  | **Software – 0.9%**  |
| 2822  | Microsoft Corp.  | 1108312  |
| 36325  | Paychex Inc.  | 3401836  |
|  | Total Software | 4510148  |
|  | **TOTAL TECHNOLOGY** | **20936735**  |
| **UTILITIES – 10.4%**  | **UTILITIES – 10.4%**  | **UTILITIES – 10.4%**  |
| **Electric – 9.2%**  | **Electric – 9.2%**  | **Electric – 9.2%**  |
| 385770  | Algonquin Power & Utilities Corp.  | 2692675  |
| 50355  | Alliant Energy Corp.  | 3642681  |
| 19635  | American Electric Power Co., Inc.  | 2627556  |
| 69085  | CenterPoint Energy Inc.  | 3005197  |

---

See Notes to Financial Statements.

133<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations Equity Income Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **UTILITIES – (continued)**  | **UTILITIES – (continued)**  | **UTILITIES – (continued)**  |
| **Electric – (continued)**  | **Electric – (continued)**  | **Electric – (continued)**  |
| 3315  | CMS Energy Corp.  | $258802  |
| 17072  | Duke Energy Corp.  | 2233871  |
| 198908  | Enel SpA  | 2396501  |
| 57825  | Evergy Inc.  | 4837639  |
| 27074  | Eversource Energy  | 2063309  |
| 88075  | FirstEnergy Corp.  | 4505917  |
| 407523  | National Grid PLC  | 7638975  |
| 78010  | PPL Corp.  | 3040830  |
| 21395  | Sempra  | 2059697  |
| 12050  | Southern Co.  | 1173429  |
| 31000  | WEC Energy Group Inc.  | 3625760  |
| 21000  | Xcel Energy Inc.  | 1750560  |
|  | Total Electric | 47553399  |
| **Gas – 1.2%**  | **Gas – 1.2%**  | **Gas – 1.2%**  |
| 59130  | MDU Resources Group Inc.  | 1222808  |
| 32785  | Southwest Gas Holdings Inc.  | 2890654  |
| 54275  | UGI Corp.  | 2030428  |
|  | Total Gas | 6143890  |
|  | **TOTAL UTILITIES** | **53697289**  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS**<br>**(Cost – $309,578,744)** | **429871140**  |
| **EXCHANGE TRADED FUNDS (ETFs) – 13.2%** | **EXCHANGE TRADED FUNDS (ETFs) – 13.2%** | **EXCHANGE TRADED FUNDS (ETFs) – 13.2%** |
| 902845  | iShares Core Dividend Growth  | 66702189  |
| 13354  | iShares Core High Dividend  | 1871296  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL EXCHANGE TRADED FUNDS (ETFs)**<br>**(Cost – $57,407,280)** | **68573485**  |
| **LIMITED PARTNERSHIP – 0.5%**  | **LIMITED PARTNERSHIP – 0.5%**  | **LIMITED PARTNERSHIP – 0.5%**  |
| **ENERGY – 0.5%**  | **ENERGY – 0.5%**  | **ENERGY – 0.5%**  |
| **Pipelines – 0.5%**  | **Pipelines – 0.5%**  | **Pipelines – 0.5%**  |
| 68560  | &nbsp;&nbsp;&nbsp; Enterprise Products Partners LP <br>(Cost – $1,608,740) | 2477758  |
| **CONVERTIBLE PREFERRED STOCK – 0.4%**  | **CONVERTIBLE PREFERRED STOCK – 0.4%**  | **CONVERTIBLE PREFERRED STOCK – 0.4%**  |
| **INDUSTRIAL – 0.4%**  | **INDUSTRIAL – 0.4%**  | **INDUSTRIAL – 0.4%**  |
| **Aerospace/Defense – 0.4%**  | **Aerospace/Defense – 0.4%**  | **Aerospace/Defense – 0.4%**  |
| 32400  | &nbsp;&nbsp;&nbsp; Boeing Co., 6.000% <br>(Cost – $1,792,925) | 2362932  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS**<br>**(Cost – $370,387,689)** | **503285315** |

---

See Notes to Financial Statements.

134<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Equity Income Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount†** | **Security** | **Value**  |
| **SHORT-TERM INVESTMENTS – 3.5%**  | **SHORT-TERM INVESTMENTS – 3.5%**  | **SHORT-TERM INVESTMENTS – 3.5%**  |
| **CORPORATE NOTES – 1.4%** | **CORPORATE NOTES – 1.4%** | **CORPORATE NOTES – 1.4%** |
| 3200 | JPMorgan Chase Bank N.A., 11.000% due 7/21/26<sup>(c)</sup>  | $692097  |
|  | Merrill Lynch BV:<br>|  |
| 20300 | &nbsp;&nbsp;&nbsp; 51.464% due 6/8/26<sup>(c)(d)</sup>  | 1747919  |
| 13000 | &nbsp;&nbsp;&nbsp; 11.000% due 8/26/26<sup>(c)</sup>  | 1383450  |
| 1070 | Merrill Lynch International & Co. CV, 12.000% due 5/18/26<sup>(c)</sup>  | 797126  |
|  | Nomura America Finance LLC:<br>|  |
| 16000 | &nbsp;&nbsp;&nbsp; 12.000% due 8/25/26<sup>(c)</sup>  | 1370015  |
| 4700 | &nbsp;&nbsp;&nbsp; 10.000% due 9/22/26<sup>(c)</sup>  | 975730  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL CORPORATE NOTES**<br>**(Cost – $6,670,427)** | **6966337**  |
| **TIME DEPOSITS – 2.1%**  | **TIME DEPOSITS – 2.1%**  | **TIME DEPOSITS – 2.1%**  |
|  | Brown Brothers Harriman – Grand Cayman:<br>|  |
| 124<sup>JPY</sup> | &nbsp;&nbsp;&nbsp; 0.200% due 3/2/26  | 1  |
| 26368<sup>CAD</sup> | &nbsp;&nbsp;&nbsp; 1.100% due 3/2/26  | 19327  |
|  | Citibank – London:<br>|  |
| 1181<sup>EUR</sup> | &nbsp;&nbsp;&nbsp; 0.880% due 3/2/26  | 1395  |
| 27<sup>GBP</sup> | &nbsp;&nbsp;&nbsp; 2.680% due 3/2/26  | 36  |
| 7410418 | Citibank – New York, 2.980% due 3/2/26  | 7410418  |
| 101<sup>SGD</sup> | Hong Kong & Shanghai Bank – Singapore, 0.280% due 3/2/26  | 80  |
| 608024 | JPMorgan Chase & Co. – New York, 2.980% due 3/2/26  | 608024  |
| 3<sup>CHF</sup> | Skandinaviska Enskilda Banken AB – Stockholm, (0.430)% due 3/2/26  | 4  |
| 2950571 | Sumitomo Mitsui Banking Corp. – Tokyo, 2.980% due 3/2/26  | 2950571  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL TIME DEPOSITS**<br>**(Cost – $10,989,856)** | **10989856**  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL SHORT-TERM INVESTMENTS**<br>**(Cost – $17,660,283)** | **17956193** |

---

---

| | | |
|:---|:---|:---|
| **Shares/Units** |  |  |
| **INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 0.0%**  | **INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 0.0%**  | **INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 0.0%**  |
| **MONEY MARKET FUND – 0.0%**  | **MONEY MARKET FUND – 0.0%**  | **MONEY MARKET FUND – 0.0%**  |
| 5423 | &nbsp;&nbsp;&nbsp; Federated Government Obligations Fund, Premier Class, 3.593%<sup>(e)</sup> <br>(Cost – $5,423) | 5423  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS – 100.7%**<br>**(Cost – $388,053,395)** | **521246931**  |
|  | Liabilities in Excess of Other Assets – (0.7)% | (3800456)  |
|  | **TOTAL NET ASSETS – 100.0%** | **$517446475** |

---

&nbsp;&nbsp;&nbsp;&nbsp;† Face amount denominated in U.S. dollars, unless
 otherwise noted.

\* Non-income producing security.

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

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

&nbsp;&nbsp;&nbsp;&nbsp;(c) Illiquid security. The aggregate value of illiquid
 holdings at February 28, 2026, amounts to $6,966,337 and represents 1.35% of net assets.

See Notes to Financial Statements.

135<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Equity Income Fund(continued)** 

&nbsp;&nbsp;&nbsp;&nbsp;(d) Rate shown represents yield-to-maturity.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Represents investment of collateral received from
 securities lending transactions.

<u>Abbreviations used in this schedule:</u>

ADR — American Depositary Receipts

LLC — Limited Liability Company

LP — Limited Partnership

PLC — Public Limited Company

REIT — Real Estate Investment Trust

**<u>Summary of Investments by Security Sector^</u>** 

---

| | |
|:---|:---|
| Financial | 19.8%  |
| Consumer Non-cyclical | 17.1  |
| Utilities | 10.3  |
| Energy | 9.9  |
| Industrial | 8.4  |
| Communications | 6.2  |
| Consumer Cyclical | 4.1  |
| Technology | 4.0  |
| Basic Materials | 3.6  |
| Exchange Traded Funds (ETFs) | 13.2  |
| Short-Term Investments | 3.4  |
| Money Market Fund | 0.0<sup>\*</sup>  |
|  | 100.0% |

---

---

| | |
|:---|:---|
| ^<br>| As a percentage of total investments. |

---

\* Position represents less than 0.05%.

**Schedule of Options Contracts Written**

**Equity Options** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number of** <br>**Contracts** | **Notional** <br>**Amount** | **Security Name** | **Counterparty** | **Expiration** <br>**Date** | **Exercise** <br>**Rate** | **Value**  |
| 10 | $251600 | Agnico Eagle Mines Ltd., Call | &nbsp;&nbsp;&nbsp;&nbsp; BNP | 3/20/26 | $280.00 | $(2420)  |
| 50 | 270200 | Alexandria Real Estate Equities Inc., Put | &nbsp;&nbsp;&nbsp;&nbsp; BNP | 3/20/26 | 45.00 | (1000)  |
| 15 | 320775 | Darden Restaurants Inc., Call | &nbsp;&nbsp;&nbsp;&nbsp; BNP | 3/20/26 | 250.00 | (600)  |
| 15 | 226125 | Emerson Electric Co., Call | &nbsp;&nbsp;&nbsp;&nbsp; BNP | 3/20/26 | 170.00 | (1125)  |
| 3 | 257871 | Goldman Sachs Group Inc., Call | &nbsp;&nbsp;&nbsp;&nbsp; BNP | 3/20/26 | 1150.00 | (3)  |
| 20 | 247640 | Merck Co., Call | &nbsp;&nbsp;&nbsp;&nbsp; BNP | 3/20/26 | 130.00 | (1540)  |
| 20 | 247640 | Merck Co., Call | &nbsp;&nbsp;&nbsp;&nbsp; BNP | 4/17/26 | 135.00 | (2400)  |
| 15 | 249765 | Morgan Stanley, Call | &nbsp;&nbsp;&nbsp;&nbsp; BNP | 3/20/26 | 220.00 | (915)  |
| 50 | 310900 | NIKE Inc., Put | &nbsp;&nbsp;&nbsp;&nbsp; BNP | 3/20/26 | 45.00 | (300)  |
| 50 | 310900 | NIKE Inc., Put | &nbsp;&nbsp;&nbsp;&nbsp; BNP | 3/20/26 | 47.50 | (250)  |
| 12 | 224196 | Philip Morris International Inc., Call | &nbsp;&nbsp;&nbsp;&nbsp; BNP | 3/20/26 | 210.00 | (216)  |
| 10 | 218300 | Southern Copper Corp., Call | &nbsp;&nbsp;&nbsp;&nbsp; BNP | 3/20/26 | 190.00 | (31200)  |
| 5 | 109150 | Southern Copper Corp., Call | &nbsp;&nbsp;&nbsp;&nbsp; BNP | 3/20/26 | 250.00 | (1500)  |
|  |  | &nbsp;&nbsp;&nbsp; **TOTAL OPTIONS CONTRACTS WRITTEN**<br>**(Premiums received – $20,260)** |  |  |  | **$(43469)** |

---

See Notes to Financial Statements.

136<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Equity Income Fund(concluded)** 

<u>Currency Abbreviations used in this schedule:</u>

CAD — Canadian Dollar

CHF — Swiss Franc

---

| | |
|:---|:---|
| EUR<br>| — Euro |

---

GBP — British Pound

JPY — Japanese Yen

SGD — Singapore Dollar

<u>Counterparty Abbreviations used in this schedule:</u>

BNP — BNP Paribas SA

See Notes to Financial Statements.

137<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **U.S. GOVERNMENT AGENCIES & OBLIGATIONS – 28.9%**  | **U.S. GOVERNMENT AGENCIES & OBLIGATIONS – 28.9%**  | **U.S. GOVERNMENT AGENCIES & OBLIGATIONS – 28.9%**  |
| **U.S. GOVERNMENT AGENCIES – 0.8%**  | **U.S. GOVERNMENT AGENCIES – 0.8%**  | **U.S. GOVERNMENT AGENCIES – 0.8%**  |
| $4990000 | Federal Farm Credit Banks Funding Corp., 2.490% due 6/30/36 | $4201800  |
|  | Federal Home Loan Banks:<br>|  |
| 2700000 | &nbsp;&nbsp;&nbsp; 1.700% due 9/4/35 | 2159398  |
| 2285000 | &nbsp;&nbsp;&nbsp; 1.930% due 2/11/36 | 1835056  |
| 4302000 | Federal National Mortgage Association, 1.625% due 8/24/35 | 3438485  |
|  | **TOTAL U.S. GOVERNMENT AGENCIES** | **11634739**  |
| **U.S. GOVERNMENT OBLIGATIONS – 28.1%**  | **U.S. GOVERNMENT OBLIGATIONS – 28.1%**  | **U.S. GOVERNMENT OBLIGATIONS – 28.1%**  |
|  | U.S. Treasury Bonds:<br>|  |
| 22000000 | &nbsp;&nbsp;&nbsp; 1.125% due 5/15/40 | 14440937  |
| 2790000 | &nbsp;&nbsp;&nbsp; 1.375% due 11/15/40 | 1873332  |
| 7050000 | &nbsp;&nbsp;&nbsp; 1.875% due 2/15/41 | 5089494  |
| 14565000 | &nbsp;&nbsp;&nbsp; 2.000% due 11/15/41 | 10509558  |
| 5735000 | &nbsp;&nbsp;&nbsp; 3.375% due 8/15/42 | 4997067  |
| 33950000 | &nbsp;&nbsp;&nbsp; 3.875% due 2/15/43 | 31454145  |
| 6715000 | &nbsp;&nbsp;&nbsp; 3.625% due 2/15/44 | 5953005  |
| 12905000 | &nbsp;&nbsp;&nbsp; 3.375% due 5/15/44 | 11011594  |
| 980000 | &nbsp;&nbsp;&nbsp; 4.625% due 5/15/44 | 991140  |
| 3205000 | &nbsp;&nbsp;&nbsp; 4.125% due 8/15/44 | 3035235  |
| 4780000 | &nbsp;&nbsp;&nbsp; 4.625% due 11/15/44 | 4824999  |
| 3195000 | &nbsp;&nbsp;&nbsp; 2.500% due 2/15/45 | 2345080  |
| 2975000 | &nbsp;&nbsp;&nbsp; 4.875% due 8/15/45 | 3094465  |
| 3240000 | &nbsp;&nbsp;&nbsp; 2.250% due 8/15/46 | 2216489  |
| 8500000 | &nbsp;&nbsp;&nbsp; 3.000% due 2/15/48 | 6562598  |
| 9545000 | &nbsp;&nbsp;&nbsp; 3.125% due 5/15/48 | 7518925  |
| 5110000 | &nbsp;&nbsp;&nbsp; 3.375% due 11/15/48 | 4189801  |
| 47114000 | &nbsp;&nbsp;&nbsp; 1.250% due 5/15/50 | 23606691  |
| 7050000 | &nbsp;&nbsp;&nbsp; 1.375% due 8/15/50 | 3629098  |
| 29315000 | &nbsp;&nbsp;&nbsp; 2.375% due 5/15/51 | 19244840  |
| 12330000 | &nbsp;&nbsp;&nbsp; 1.875% due 11/15/51 | 7117203  |
| 7170000 | &nbsp;&nbsp;&nbsp; 3.000% due 8/15/52 | 5341090  |
| 2801600 | &nbsp;&nbsp;&nbsp; 4.000% due 11/15/52 | 2517062  |
| 5797000 | &nbsp;&nbsp;&nbsp; 3.625% due 5/15/53 | 4863366  |
| 8290000 | &nbsp;&nbsp;&nbsp; 4.125% due 8/15/53 | 7605103  |
| 2880000 | &nbsp;&nbsp;&nbsp; 4.250% due 8/15/54 | 2698425  |
| 1015000 | &nbsp;&nbsp;&nbsp; 4.500% due 11/15/54 | 991607  |
| 6190000 | &nbsp;&nbsp;&nbsp; 4.625% due 2/15/55 | 6173316  |
|  | U.S. Treasury Inflation Indexed Bonds:<br>|  |
| 4911861 | &nbsp;&nbsp;&nbsp; 0.750% due 2/15/42 | 3955076  |
| 2139882 | &nbsp;&nbsp;&nbsp; 0.750% due 2/15/45 | 1618002  |
| 2155352 | &nbsp;&nbsp;&nbsp; 0.250% due 2/15/50 | 1296911  |
|  | U.S. Treasury Inflation Indexed Notes:<br>|  |
| 1536687 | &nbsp;&nbsp;&nbsp; 0.375% due 7/15/27 | 1534192  |
| 1990953 | &nbsp;&nbsp;&nbsp; 1.625% due 10/15/27 | 2023134  |

---

See Notes to Financial Statements.

138<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **U.S. GOVERNMENT AGENCIES & OBLIGATIONS – (continued)**  | **U.S. GOVERNMENT AGENCIES & OBLIGATIONS – (continued)**  | **U.S. GOVERNMENT AGENCIES & OBLIGATIONS – (continued)**  |
| **U.S. GOVERNMENT OBLIGATIONS – (continued)**  | **U.S. GOVERNMENT OBLIGATIONS – (continued)**  | **U.S. GOVERNMENT OBLIGATIONS – (continued)**  |
| $1550213 | &nbsp;&nbsp;&nbsp; 0.500% due 1/15/28 | $1539509  |
| 3410369 | &nbsp;&nbsp;&nbsp; 1.750% due 1/15/34 | 3472009  |
|  | U.S. Treasury Notes:<br>|  |
| 16600000 | &nbsp;&nbsp;&nbsp; 0.750% due 3/31/26 | 16560765  |
| 4650000 | &nbsp;&nbsp;&nbsp; 0.750% due 5/31/26 | 4616142  |
| 6800000 | &nbsp;&nbsp;&nbsp; 0.875% due 9/30/26 | 6692815  |
| 12098000 | &nbsp;&nbsp;&nbsp; 0.625% due 11/30/27 | 11532797  |
| 11965000 | &nbsp;&nbsp;&nbsp; 3.375% due 12/31/27 | 11958457  |
| 23405000 | &nbsp;&nbsp;&nbsp; 3.375% due 9/15/28 | 23396772  |
| 4965000 | &nbsp;&nbsp;&nbsp; 3.500% due 12/15/28 | 4979740  |
| 24590000 | &nbsp;&nbsp;&nbsp; 2.375% due 3/31/29<sup>(a)</sup> | 23855182  |
| 3960000 | &nbsp;&nbsp;&nbsp; 4.125% due 11/30/29 | 4053277  |
| 31125000 | &nbsp;&nbsp;&nbsp; 4.375% due 12/31/29 | 32145073  |
| 9480000 | &nbsp;&nbsp;&nbsp; 3.875% due 4/30/30 | 9625162  |
| 4550000 | &nbsp;&nbsp;&nbsp; 3.875% due 6/30/30 | 4620916  |
| 5860000 | &nbsp;&nbsp;&nbsp; 3.625% due 9/30/30 | 5889987  |
| 4500000 | &nbsp;&nbsp;&nbsp; 0.875% due 11/15/30 | 3989707  |
| 4665000 | &nbsp;&nbsp;&nbsp; 4.125% due 11/30/31 | 4789096  |
| 11400000 | &nbsp;&nbsp;&nbsp; 3.875% due 9/30/32 | 11521125  |
| 15035000 | &nbsp;&nbsp;&nbsp; 3.875% due 12/31/32 | 15183001  |
| 220000 | &nbsp;&nbsp;&nbsp; 4.250% due 11/15/34 | 226024  |
| 9475000 | &nbsp;&nbsp;&nbsp; 4.250% due 5/15/35 | 9718167  |
|  | **TOTAL U.S. GOVERNMENT OBLIGATIONS** | **424688703**  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL U.S. GOVERNMENT AGENCIES & OBLIGATIONS**<br>**(Cost – $463,900,653)** | **436323442**  |
| **MORTGAGE-BACKED SECURITIES – 22.4%**  | **MORTGAGE-BACKED SECURITIES – 22.4%**  | **MORTGAGE-BACKED SECURITIES – 22.4%**  |
| **FHLMC – 5.7%**  | **FHLMC – 5.7%**  | **FHLMC – 5.7%**  |
|  | Federal Home Loan Mortgage Corp. (FHLMC)., Gold:<br>|  |
| 136766 | &nbsp;&nbsp;&nbsp; 2.000% due 6/1/36 | 127554  |
| 72120 | &nbsp;&nbsp;&nbsp; 2.000% due 12/1/40 | 64732  |
| 474906 | &nbsp;&nbsp;&nbsp; 2.000% due 5/1/41 | 424290  |
| 566607 | &nbsp;&nbsp;&nbsp; 2.000% due 12/1/41 | 501102  |
| 241202 | &nbsp;&nbsp;&nbsp; 2.000% due 9/1/50 | 203687  |
| 4757452 | &nbsp;&nbsp;&nbsp; 2.000% due 3/1/51 | 3974152  |
| 713488 | &nbsp;&nbsp;&nbsp; 2.000% due 4/1/51 | 594973  |
| 409203 | &nbsp;&nbsp;&nbsp; 2.000% due 5/1/51 | 346624  |
| 160828 | &nbsp;&nbsp;&nbsp; 2.000% due 8/1/51 | 134412  |
| 163527 | &nbsp;&nbsp;&nbsp; 2.000% due 11/1/51 | 137617  |
| 634550 | &nbsp;&nbsp;&nbsp; 2.000% due 4/1/52 | 535023  |
| 240289 | &nbsp;&nbsp;&nbsp; 2.500% due 5/1/50 | 212351  |
| 277263 | &nbsp;&nbsp;&nbsp; 2.500% due 6/1/50 | 243878  |
| 1591282 | &nbsp;&nbsp;&nbsp; 2.500% due 7/1/50 | 1403183  |
| 423515 | &nbsp;&nbsp;&nbsp; 2.500% due 9/1/50 | 372956  |

---

See Notes to Financial Statements.

139<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **MORTGAGE-BACKED SECURITIES – (continued)**  | **MORTGAGE-BACKED SECURITIES – (continued)**  | **MORTGAGE-BACKED SECURITIES – (continued)**  |
| **FHLMC – (continued)**  | **FHLMC – (continued)**  | **FHLMC – (continued)**  |
| $60221 | &nbsp;&nbsp;&nbsp; 2.500% due 10/1/50 | $53388  |
| 480204 | &nbsp;&nbsp;&nbsp; 2.500% due 11/1/50 | 421811  |
| 147931 | &nbsp;&nbsp;&nbsp; 2.500% due 2/1/51 | 130860  |
| 379471 | &nbsp;&nbsp;&nbsp; 2.500% due 3/1/51 | 332233  |
| 177676 | &nbsp;&nbsp;&nbsp; 2.500% due 5/1/51 | 156068  |
| 241282 | &nbsp;&nbsp;&nbsp; 2.500% due 7/1/51 | 211286  |
| 266694 | &nbsp;&nbsp;&nbsp; 2.500% due 10/1/51 | 233639  |
| 5085771 | &nbsp;&nbsp;&nbsp; 2.500% due 12/1/51 | 4438915  |
| 6530782 | &nbsp;&nbsp;&nbsp; 2.500% due 1/1/52 | 5738467  |
| 750573 | &nbsp;&nbsp;&nbsp; 2.500% due 4/1/52 | 655458  |
| 196811 | &nbsp;&nbsp;&nbsp; 3.000% due 3/1/35 | 189935  |
| 3300179 | &nbsp;&nbsp;&nbsp; 3.000% due 3/1/42 | 3121781  |
| 97360 | &nbsp;&nbsp;&nbsp; 3.000% due 1/1/47 | 89990  |
| 196884 | &nbsp;&nbsp;&nbsp; 3.000% due 2/1/47 | 182650  |
| 4684229 | &nbsp;&nbsp;&nbsp; 3.000% due 4/1/50 | 4172756  |
| 556804 | &nbsp;&nbsp;&nbsp; 3.000% due 8/1/51 | 510150  |
| 413294 | &nbsp;&nbsp;&nbsp; 3.000% due 9/1/51 | 378824  |
| 503647 | &nbsp;&nbsp;&nbsp; 3.000% due 10/1/51 | 462439  |
| 6259149 | &nbsp;&nbsp;&nbsp; 3.000% due 1/1/52 | 5755668  |
| 6715006 | &nbsp;&nbsp;&nbsp; 3.000% due 5/1/52 | 6157823  |
| 3545245 | &nbsp;&nbsp;&nbsp; 3.030% due 1/1/50 | 2946279  |
| 651207 | &nbsp;&nbsp;&nbsp; 3.500% due 8/1/43 | 629004  |
| 293613 | &nbsp;&nbsp;&nbsp; 3.500% due 1/1/48 | 281940  |
| 298880 | &nbsp;&nbsp;&nbsp; 3.500% due 4/1/50 | 284892  |
| 2530385 | &nbsp;&nbsp;&nbsp; 3.500% due 8/1/52 | 2413015  |
| 522853 | &nbsp;&nbsp;&nbsp; 4.000% due 10/1/44 | 518404  |
| 33552 | &nbsp;&nbsp;&nbsp; 4.000% due 4/1/47 | 33332  |
| 671266 | &nbsp;&nbsp;&nbsp; 4.000% due 12/1/47 | 661928  |
| 360983 | &nbsp;&nbsp;&nbsp; 4.000% due 4/1/49 | 355130  |
| 121720 | &nbsp;&nbsp;&nbsp; 4.000% due 5/1/49 | 120646  |
| 420682 | &nbsp;&nbsp;&nbsp; 4.000% due 7/1/49 | 415864  |
| 235953 | &nbsp;&nbsp;&nbsp; 4.500% due 5/1/48 | 236870  |
| 199445 | &nbsp;&nbsp;&nbsp; 5.000% due 7/1/40 | 202615  |
| 142515 | &nbsp;&nbsp;&nbsp; 5.000% due 8/1/52 | 144298  |
| 641900 | &nbsp;&nbsp;&nbsp; 5.000% due 10/1/52 | 647796  |
| 253566 | &nbsp;&nbsp;&nbsp; 5.000% due 4/1/53 | 257370  |
| 2920819 | &nbsp;&nbsp;&nbsp; 5.000% due 6/1/53 | 2979231  |
| 3736113 | &nbsp;&nbsp;&nbsp; 5.000% due 3/1/54 | 3800794  |
| 6394872 | &nbsp;&nbsp;&nbsp; 5.000% due 8/1/55 | 6463078  |
| 691062 | &nbsp;&nbsp;&nbsp; 5.500% due 12/1/37 | 709823  |
| 534412 | &nbsp;&nbsp;&nbsp; 5.500% due 2/1/53 | 545907  |
| 2918124 | &nbsp;&nbsp;&nbsp; 5.500% due 9/1/53 | 3017245  |
| 3457934 | &nbsp;&nbsp;&nbsp; 5.500% due 1/1/55 | 3580308  |

---

See Notes to Financial Statements.

140<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **MORTGAGE-BACKED SECURITIES – (continued)**  | **MORTGAGE-BACKED SECURITIES – (continued)**  | **MORTGAGE-BACKED SECURITIES – (continued)**  |
| **FHLMC – (continued)**  | **FHLMC – (continued)**  | **FHLMC – (continued)**  |
| $517422 | &nbsp;&nbsp;&nbsp; 5.500% due 6/1/55 | $531857  |
| 5440514 | &nbsp;&nbsp;&nbsp; 5.500% due 12/1/55 | 5532214  |
| 287065 | &nbsp;&nbsp;&nbsp; 6.000% due 11/1/52 | 296558  |
| 334802 | &nbsp;&nbsp;&nbsp; 6.000% due 12/1/52 | 348983  |
| 132631 | &nbsp;&nbsp;&nbsp; 6.000% due 3/1/53 | 138871  |
| 2696016 | &nbsp;&nbsp;&nbsp; 6.000% due 4/1/54 | 2816174  |
| 1186501 | &nbsp;&nbsp;&nbsp; 6.000% due 6/1/54 | 1224911  |
| 1093727 | &nbsp;&nbsp;&nbsp; 6.000% due 8/1/54 | 1127322  |
|  | **TOTAL FHLMC** | **85933334**  |
| **FNMA – 13.9%**  | **FNMA – 13.9%**  | **FNMA – 13.9%**  |
|  | Federal National Mortgage Association (FNMA):<br>|  |
| 184435 | &nbsp;&nbsp;&nbsp; 2.000% due 5/1/36 | 171877  |
| 386680 | &nbsp;&nbsp;&nbsp; 2.000% due 8/1/36 | 360736  |
| 250156 | &nbsp;&nbsp;&nbsp; 2.000% due 9/1/36 | 233913  |
| 283046 | &nbsp;&nbsp;&nbsp; 2.000% due 9/1/40 | 254793  |
| 695309 | &nbsp;&nbsp;&nbsp; 2.000% due 12/1/40 | 623855  |
| 322326 | &nbsp;&nbsp;&nbsp; 2.000% due 4/1/41 | 289181  |
| 95647 | &nbsp;&nbsp;&nbsp; 2.000% due 5/1/41 | 85519  |
| 406036 | &nbsp;&nbsp;&nbsp; 2.000% due 10/1/41 | 359600  |
| 12647544 | &nbsp;&nbsp;&nbsp; 2.000% due 6/1/50 | 10594095  |
| 9554226 | &nbsp;&nbsp;&nbsp; 2.000% due 8/1/50 | 8036241  |
| 1074529 | &nbsp;&nbsp;&nbsp; 2.000% due 9/1/50 | 907401  |
| 263424 | &nbsp;&nbsp;&nbsp; 2.000% due 12/1/50 | 221743  |
| 1600843 | &nbsp;&nbsp;&nbsp; 2.000% due 2/1/51 | 1352655  |
| 3635443 | &nbsp;&nbsp;&nbsp; 2.000% due 3/1/51 | 3026732  |
| 734741 | &nbsp;&nbsp;&nbsp; 2.000% due 4/1/51 | 613617  |
| 5318618 | &nbsp;&nbsp;&nbsp; 2.000% due 5/1/51 | 4470266  |
| 124437 | &nbsp;&nbsp;&nbsp; 2.000% due 7/1/51 | 103885  |
| 225065 | &nbsp;&nbsp;&nbsp; 2.250% due 4/1/33 | 202801  |
| 42934 | &nbsp;&nbsp;&nbsp; 2.500% due 6/1/30 | 42018  |
| 5121752 | &nbsp;&nbsp;&nbsp; 2.500% due 2/1/47 | 4566044  |
| 262485 | &nbsp;&nbsp;&nbsp; 2.500% due 4/1/50 | 230147  |
| 256244 | &nbsp;&nbsp;&nbsp; 2.500% due 6/1/50 | 225325  |
| 260737 | &nbsp;&nbsp;&nbsp; 2.500% due 7/1/50 | 229972  |
| 443992 | &nbsp;&nbsp;&nbsp; 2.500% due 9/1/50 | 388817  |
| 4332144 | &nbsp;&nbsp;&nbsp; 2.500% due 10/1/50 | 3836631  |
| 8490386 | &nbsp;&nbsp;&nbsp; 2.500% due 11/1/50 | 7396484  |
| 256890 | &nbsp;&nbsp;&nbsp; 2.500% due 1/1/51 | 227217  |
| 915194 | &nbsp;&nbsp;&nbsp; 2.500% due 2/1/51 | 801383  |
| 3198636 | &nbsp;&nbsp;&nbsp; 2.500% due 5/1/51 | 2816255  |
| 363961 | &nbsp;&nbsp;&nbsp; 2.500% due 7/1/51 | 319698  |
| 9119474 | &nbsp;&nbsp;&nbsp; 2.500% due 8/1/51 | 7966670  |
| 224788 | &nbsp;&nbsp;&nbsp; 2.500% due 9/1/51 | 197989  |

---

See Notes to Financial Statements.

141<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **MORTGAGE-BACKED SECURITIES – (continued)**  | **MORTGAGE-BACKED SECURITIES – (continued)**  | **MORTGAGE-BACKED SECURITIES – (continued)**  |
| **FNMA – (continued)**  | **FNMA – (continued)**  | **FNMA – (continued)**  |
| $6926382 | &nbsp;&nbsp;&nbsp; 2.500% due 10/1/51 | $6060971  |
| 6763047 | &nbsp;&nbsp;&nbsp; 2.500% due 11/1/51 | 5923769  |
| 5605884 | &nbsp;&nbsp;&nbsp; 2.500% due 12/1/51 | 4896620  |
| 414250 | &nbsp;&nbsp;&nbsp; 2.500% due 1/1/52 | 364386  |
| 278457 | &nbsp;&nbsp;&nbsp; 2.500% due 3/1/52 | 243590  |
| 566780 | &nbsp;&nbsp;&nbsp; 2.500% due 1/1/57 | 494373  |
| 731996 | &nbsp;&nbsp;&nbsp; 3.000% due 11/1/36 | 704680  |
| 2749961 | &nbsp;&nbsp;&nbsp; 3.000% due 3/1/43 | 2589936  |
| 4995202 | &nbsp;&nbsp;&nbsp; 3.000% due 6/1/43 | 4704530  |
| 95642 | &nbsp;&nbsp;&nbsp; 3.000% due 11/1/48 | 88240  |
| 181119 | &nbsp;&nbsp;&nbsp; 3.000% due 2/1/50 | 167239  |
| 730143 | &nbsp;&nbsp;&nbsp; 3.000% due 8/1/50 | 665060  |
| 293408 | &nbsp;&nbsp;&nbsp; 3.000% due 10/1/50 | 266270  |
| 429744 | &nbsp;&nbsp;&nbsp; 3.000% due 12/1/50 | 390062  |
| 340998 | &nbsp;&nbsp;&nbsp; 3.000% due 5/1/51 | 315559  |
| 540673 | &nbsp;&nbsp;&nbsp; 3.000% due 7/1/51 | 493333  |
| 842705 | &nbsp;&nbsp;&nbsp; 3.000% due 8/1/51 | 769518  |
| 82944 | &nbsp;&nbsp;&nbsp; 3.000% due 9/1/51 | 75348  |
| 944762 | &nbsp;&nbsp;&nbsp; 3.000% due 10/1/51 | 863129  |
| 184511 | &nbsp;&nbsp;&nbsp; 3.000% due 11/1/51 | 168413  |
| 171377 | &nbsp;&nbsp;&nbsp; 3.000% due 12/1/51 | 155524  |
| 256688 | &nbsp;&nbsp;&nbsp; 3.000% due 1/1/52 | 234104  |
| 276852 | &nbsp;&nbsp;&nbsp; 3.000% due 4/1/52 | 252984  |
| 384045 | &nbsp;&nbsp;&nbsp; 3.000% due 5/1/52 | 351202  |
| 5929346 | &nbsp;&nbsp;&nbsp; 3.000% due 6/1/52 | 5420364  |
| 3265090 | &nbsp;&nbsp;&nbsp; 3.000% due 4/1/53 | 3034138  |
| 695000 | &nbsp;&nbsp;&nbsp; 3.000% due 3/1/56<sup>(b)</sup> | 628411  |
| 690000 | &nbsp;&nbsp;&nbsp; 3.000% due 4/1/56<sup>(b)</sup> | 623647  |
| 302683 | &nbsp;&nbsp;&nbsp; 3.500% due 7/1/37 | 296404  |
| 526518 | &nbsp;&nbsp;&nbsp; 3.500% due 8/1/43 | 510825  |
| 530947 | &nbsp;&nbsp;&nbsp; 3.500% due 3/1/46 | 510310  |
| 535400 | &nbsp;&nbsp;&nbsp; 3.500% due 5/1/47 | 516650  |
| 660152 | &nbsp;&nbsp;&nbsp; 3.500% due 11/1/47 | 632583  |
| 660146 | &nbsp;&nbsp;&nbsp; 3.500% due 2/1/48 | 636975  |
| 352197 | &nbsp;&nbsp;&nbsp; 3.500% due 7/1/50 | 335164  |
| 134609 | &nbsp;&nbsp;&nbsp; 3.500% due 9/1/50 | 128599  |
| 514070 | &nbsp;&nbsp;&nbsp; 3.500% due 1/1/51 | 488529  |
| 1134760 | &nbsp;&nbsp;&nbsp; 3.500% due 2/1/51 | 1080490  |
| 5758457 | &nbsp;&nbsp;&nbsp; 3.500% due 7/1/51 | 5485421  |
| 560361 | &nbsp;&nbsp;&nbsp; 3.500% due 4/1/52 | 533503  |
| 832800 | &nbsp;&nbsp;&nbsp; 3.500% due 10/1/56 | 781148  |
| 166354 | &nbsp;&nbsp;&nbsp; 3.500% due 2/1/57 | 156036  |
| 336000 | &nbsp;&nbsp;&nbsp; 3.920% due 10/1/30 | 337146  |

---

See Notes to Financial Statements.

142<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **MORTGAGE-BACKED SECURITIES – (continued)**  | **MORTGAGE-BACKED SECURITIES – (continued)**  | **MORTGAGE-BACKED SECURITIES – (continued)**  |
| **FNMA – (continued)**  | **FNMA – (continued)**  | **FNMA – (continued)**  |
| $195600 | &nbsp;&nbsp;&nbsp; 4.000% due 8/1/38 | $195523  |
| 342111 | &nbsp;&nbsp;&nbsp; 4.000% due 11/1/38 | 342091  |
| 4275000 | &nbsp;&nbsp;&nbsp; 4.000% due 3/1/41<sup>(b)</sup> | 4238078  |
| 73738 | &nbsp;&nbsp;&nbsp; 4.000% due 3/1/46 | 73178  |
| 456407 | &nbsp;&nbsp;&nbsp; 4.000% due 3/1/47 | 450595  |
| 44830 | &nbsp;&nbsp;&nbsp; 4.000% due 12/1/47 | 44314  |
| 64081 | &nbsp;&nbsp;&nbsp; 4.000% due 2/1/48 | 62742  |
| 92685 | &nbsp;&nbsp;&nbsp; 4.000% due 1/1/49 | 92020  |
| 122123 | &nbsp;&nbsp;&nbsp; 4.000% due 5/1/49 | 120618  |
| 30967 | &nbsp;&nbsp;&nbsp; 4.000% due 8/1/49 | 30732  |
| 1505427 | &nbsp;&nbsp;&nbsp; 4.000% due 11/1/49 | 1484375  |
| 502632 | &nbsp;&nbsp;&nbsp; 4.000% due 4/1/50 | 496613  |
| 322304 | &nbsp;&nbsp;&nbsp; 4.000% due 8/1/51 | 318426  |
| 380709 | &nbsp;&nbsp;&nbsp; 4.000% due 6/1/52 | 373200  |
| 523800 | &nbsp;&nbsp;&nbsp; 4.120% due 11/1/30 | 530019  |
| 240000 | &nbsp;&nbsp;&nbsp; 4.210% due 1/1/31 | 244030  |
| 335000 | &nbsp;&nbsp;&nbsp; 4.370% due 11/1/30 | 342586  |
| 793797 | &nbsp;&nbsp;&nbsp; 4.390% due 4/1/29 | 808928  |
| 255010 | &nbsp;&nbsp;&nbsp; 4.500% due 12/1/37 | 258116  |
| 7735000 | &nbsp;&nbsp;&nbsp; 4.500% due 3/1/41<sup>(b)</sup> | 7767365  |
| 168672 | &nbsp;&nbsp;&nbsp; 4.500% due 5/1/48 | 169921  |
| 171317 | &nbsp;&nbsp;&nbsp; 4.500% due 6/1/48 | 172426  |
| 2849500 | &nbsp;&nbsp;&nbsp; 4.500% due 10/1/50 | 2868338  |
| 1004347 | &nbsp;&nbsp;&nbsp; 4.500% due 6/1/52 | 997616  |
| 3253309 | &nbsp;&nbsp;&nbsp; 4.500% due 7/1/52 | 3231504  |
| 692910 | &nbsp;&nbsp;&nbsp; 4.500% due 3/1/53 | 687053  |
| 1715000 | &nbsp;&nbsp;&nbsp; 4.500% due 3/1/56<sup>(b)</sup> | 1695878  |
| 262000 | &nbsp;&nbsp;&nbsp; 4.520% due 10/1/30 | 268941  |
| 120000 | &nbsp;&nbsp;&nbsp; 4.750% due 4/1/28 | 121818  |
| 15000 | &nbsp;&nbsp;&nbsp; 5.000% due 3/1/42<sup>(b)</sup> | 15067  |
| 501523 | &nbsp;&nbsp;&nbsp; 5.000% due 7/1/52 | 507797  |
| 10868956 | &nbsp;&nbsp;&nbsp; 5.000% due 9/1/52 | 10973200  |
| 740393 | &nbsp;&nbsp;&nbsp; 5.000% due 10/1/52 | 746871  |
| 112081 | &nbsp;&nbsp;&nbsp; 5.000% due 11/1/52 | 113197  |
| 1497934 | &nbsp;&nbsp;&nbsp; 5.000% due 12/1/52 | 1512367  |
| 62374 | &nbsp;&nbsp;&nbsp; 5.000% due 3/1/53 | 62878  |
| 585000 | &nbsp;&nbsp;&nbsp; 5.065% due 12/1/28 | 605060  |
| 216901 | &nbsp;&nbsp;&nbsp; 5.500% due 4/1/38 | 222789  |
| 305310 | &nbsp;&nbsp;&nbsp; 5.500% due 11/1/39 | 313356  |
| 695929 | &nbsp;&nbsp;&nbsp; 5.500% due 8/1/40 | 714849  |
| 1965000 | &nbsp;&nbsp;&nbsp; 5.500% due 3/1/41<sup>(b)</sup> | 2015878  |
| 337319 | &nbsp;&nbsp;&nbsp; 5.500% due 10/1/52 | 344970  |
| 1001665 | &nbsp;&nbsp;&nbsp; 5.500% due 11/1/52 | 1024336  |

---

See Notes to Financial Statements.

143<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **MORTGAGE-BACKED SECURITIES – (continued)**  | **MORTGAGE-BACKED SECURITIES – (continued)**  | **MORTGAGE-BACKED SECURITIES – (continued)**  |
| **FNMA – (continued)**  | **FNMA – (continued)**  | **FNMA – (continued)**  |
| $1153582 | &nbsp;&nbsp;&nbsp; 5.500% due 12/1/52 | $1178800  |
| 3354335 | &nbsp;&nbsp;&nbsp; 5.500% due 6/1/53 | 3458095  |
| 6127580 | &nbsp;&nbsp;&nbsp; 5.500% due 7/1/53 | 6334959  |
| 5816890 | &nbsp;&nbsp;&nbsp; 5.500% due 11/1/54 | 6034201  |
| 3804751 | &nbsp;&nbsp;&nbsp; 5.500% due 10/1/55 | 3939837  |
| 10790000 | &nbsp;&nbsp;&nbsp; 5.500% due 3/1/56<sup>(b)</sup> | 10962994  |
| 359583 | &nbsp;&nbsp;&nbsp; 6.000% due 5/1/53 | 375351  |
| 352058 | &nbsp;&nbsp;&nbsp; 6.000% due 9/1/54 | 361678  |
| 13460000 | &nbsp;&nbsp;&nbsp; 6.000% due 3/1/56<sup>(b)</sup> | 13805764  |
| 2175000 | &nbsp;&nbsp;&nbsp; 6.500% due 3/1/56<sup>(b)</sup> | 2258974  |
|  | **TOTAL FNMA** | **210899055**  |
| **GNMA – 2.8%**  | **GNMA – 2.8%**  | **GNMA – 2.8%**  |
|  | Government National Mortgage Association (GNMA):<br>|  |
| 2030000 | &nbsp;&nbsp;&nbsp; 2.000% due 3/1/56<sup>(b)</sup> | 1719456  |
| 11149000 | &nbsp;&nbsp;&nbsp; 2.500% due 3/1/56<sup>(b)</sup> | 9836848  |
| 155000 | &nbsp;&nbsp;&nbsp; 3.500% due 3/1/56<sup>(b)</sup> | 145456  |
| 70000 | &nbsp;&nbsp;&nbsp; 4.500% due 3/1/56<sup>(b)</sup> | 69174  |
| 1625000 | &nbsp;&nbsp;&nbsp; 5.000% due 3/1/56<sup>(b)</sup> | 1630513  |
| 775000 | &nbsp;&nbsp;&nbsp; 5.000% due 4/1/56<sup>(b)</sup> | 776570  |
| 1945000 | &nbsp;&nbsp;&nbsp; 5.500% due 3/1/56<sup>(b)</sup> | 1969821  |
| 950000 | &nbsp;&nbsp;&nbsp; 5.500% due 4/1/56<sup>(b)</sup> | 961158  |
| 972000 | &nbsp;&nbsp;&nbsp; 6.000% due 3/1/56<sup>(b)</sup> | 991498  |
|  | Government National Mortgage Association (GNMA) II:<br>|  |
| 546755 | &nbsp;&nbsp;&nbsp; 2.000% due 10/20/50 | 463774  |
| 1220063 | &nbsp;&nbsp;&nbsp; 2.000% due 12/20/50 | 1034569  |
| 518391 | &nbsp;&nbsp;&nbsp; 2.500% due 11/20/49 | 460637  |
| 408465 | &nbsp;&nbsp;&nbsp; 2.500% due 3/20/51 | 360693  |
| 3308635 | &nbsp;&nbsp;&nbsp; 2.500% due 10/20/51 | 2914479  |
| 131101 | &nbsp;&nbsp;&nbsp; 3.000% due 4/20/31 | 128848  |
| 411963 | &nbsp;&nbsp;&nbsp; 3.000% due 6/20/50 | 379648  |
| 74554 | &nbsp;&nbsp;&nbsp; 3.000% due 12/20/50 | 68604  |
| 1817250 | &nbsp;&nbsp;&nbsp; 3.000% due 6/20/51 | 1668263  |
| 674927 | &nbsp;&nbsp;&nbsp; 3.000% due 9/20/51 | 619754  |
| 381163 | &nbsp;&nbsp;&nbsp; 3.000% due 12/20/52 | 350440  |
| 91377 | &nbsp;&nbsp;&nbsp; 3.500% due 8/20/42 | 88647  |
| 342818 | &nbsp;&nbsp;&nbsp; 3.500% due 10/20/43 | 332186  |
| 186487 | &nbsp;&nbsp;&nbsp; 3.500% due 6/20/49 | 178491  |
| 454312 | &nbsp;&nbsp;&nbsp; 3.500% due 11/20/49 | 433847  |
| 395359 | &nbsp;&nbsp;&nbsp; 3.500% due 6/20/50 | 377027  |
| 508195 | &nbsp;&nbsp;&nbsp; 3.500% due 9/20/50 | 484422  |
| 2429439 | &nbsp;&nbsp;&nbsp; 3.500% due 10/20/51 | 2302143  |
| 3619500 | &nbsp;&nbsp;&nbsp; 3.500% due 2/20/52 | 3428997  |
| 46103 | &nbsp;&nbsp;&nbsp; 3.500% due 5/20/52 | 43811  |

---

See Notes to Financial Statements.

144<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **MORTGAGE-BACKED SECURITIES – (continued)**  | **MORTGAGE-BACKED SECURITIES – (continued)**  | **MORTGAGE-BACKED SECURITIES – (continued)**  |
| **GNMA – (continued)**  | **GNMA – (continued)**  | **GNMA – (continued)**  |
| $381727 | &nbsp;&nbsp;&nbsp; 4.000% due 10/20/44 | $376214  |
| 255076 | &nbsp;&nbsp;&nbsp; 4.000% due 2/20/45 | 251367  |
| 175040 | &nbsp;&nbsp;&nbsp; 4.000% due 10/20/45 | 172926  |
| 217455 | &nbsp;&nbsp;&nbsp; 4.000% due 2/20/47 | 213207  |
| 453686 | &nbsp;&nbsp;&nbsp; 4.000% due 10/20/48 | 444142  |
| 373953 | &nbsp;&nbsp;&nbsp; 4.000% due 3/20/49 | 364972  |
| 1030642 | &nbsp;&nbsp;&nbsp; 4.000% due 2/20/52 | 1000574  |
| 487007 | &nbsp;&nbsp;&nbsp; 4.500% due 2/20/40 | 494270  |
| 164652 | &nbsp;&nbsp;&nbsp; 4.500% due 7/20/49 | 165317  |
| 168864 | &nbsp;&nbsp;&nbsp; 4.500% due 8/20/49 | 168913  |
| 239726 | &nbsp;&nbsp;&nbsp; 4.500% due 8/20/52 | 238834  |
| 224270 | &nbsp;&nbsp;&nbsp; 4.500% due 9/20/52 | 223401  |
| 1011282 | &nbsp;&nbsp;&nbsp; 4.500% due 10/20/52 | 1007830  |
| 216350 | &nbsp;&nbsp;&nbsp; 5.000% due 5/20/40 | 223403  |
| 172694 | &nbsp;&nbsp;&nbsp; 5.000% due 6/20/40 | 178850  |
| 67963 | &nbsp;&nbsp;&nbsp; 5.000% due 7/20/40 | 70219  |
| 1643828 | &nbsp;&nbsp;&nbsp; 5.500% due 11/20/54 | 1669787  |
| 790866 | &nbsp;&nbsp;&nbsp; 6.000% due 9/20/55 | 808421  |
|  | **TOTAL GNMA** | **42292421**  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL MORTGAGE-BACKED SECURITIES**<br>**(Cost – $352,710,601)** | **339124810**  |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 18.5%**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – 18.5%**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – 18.5%**  |
| **Asset Backed Securities – 0.5%**  | **Asset Backed Securities – 0.5%**  | **Asset Backed Securities – 0.5%**  |
| 177002 | Cascade MH Asset Trust, Series 2021-MH1, Class A1, 1.753% due 2/25/46<sup>(c)</sup> | 162601  |
|  | FMC GMSR Issuer Trust:<br>|  |
| 4000000 | &nbsp;&nbsp;&nbsp; Series 2021-GT1, Class A, 3.620% due 7/25/26<sup>(c)(d)</sup> | 3883894  |
| 3420000 | &nbsp;&nbsp;&nbsp; Series 2021-GT2, Class A, 3.850% due 10/25/26<sup>(c)(d)</sup> | 3332205  |
|  | Total Asset Backed Securities | 7378700  |
| **Mortgage Securities – 18.0%**  | **Mortgage Securities – 18.0%**  | **Mortgage Securities – 18.0%**  |
| 220000 | &nbsp;&nbsp;&nbsp; 280 Park Avenue Mortgage Trust, Series 2017-280P, Class A, 4.849% <br>(1-Month TSFR + 1.180%) due 9/15/34<sup>(c)(d)</sup> | 219175  |
|  | Alternative Loan Trust:<br>|  |
| 453603 | &nbsp;&nbsp;&nbsp; Series 2005-28CB, Class 1A7, 5.500% due 8/25/35 | 390862  |
| 3767969 | &nbsp;&nbsp;&nbsp; Series 2005-7CB, Class 2A2, 1.262% (1-Month TSFR + 4.936%) due 3/1/38<sup>(d)(e)</sup> | 237603  |
| 3767969 | &nbsp;&nbsp;&nbsp; Series 2005-7CB, Class 2A5, 4.238% (1-Month TSFR + 0.564%) due 3/1/38<sup>(d)</sup> | 2735874  |
| 3213600 | &nbsp;&nbsp;&nbsp; Series 2006-OA2, Class A1, 4.202% (1-Month TSFR + 0.534%) due 5/20/46<sup>(d)</sup> | 2946574  |
| 1707234 | &nbsp;&nbsp;&nbsp; Series 2007-4CB, Class 1A1, 4.388% (1-Month TSFR + 0.714%) due 4/25/37<sup>(d)</sup> | 1308085  |
| 6397298 | &nbsp;&nbsp;&nbsp; Series 2007-9T1, Class 2A2, 6.000% due 5/25/37 | 2580124  |

---

See Notes to Financial Statements.

145<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  |
| **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  |
|  | Angel Oak Mortgage Trust:<br>|  |
| $252735 | &nbsp;&nbsp;&nbsp; Series 2021-1, Class A1, 0.909% due 1/25/66<sup>(c)(d)</sup> | $227348  |
| 242400 | &nbsp;&nbsp;&nbsp; Series 2021-2, Class A1, 0.985% due 4/25/66<sup>(c)(d)</sup> | 213485  |
| 462560 | &nbsp;&nbsp;&nbsp; Series 2021-3, Class A1, 1.068% due 5/25/66<sup>(c)(d)</sup> | 407639  |
| 386808 | &nbsp;&nbsp;&nbsp; Series 2021-4, Class A1, 1.035% due 1/20/65<sup>(c)(d)</sup> | 337068  |
| 564588 | &nbsp;&nbsp;&nbsp; Series 2021-5, Class A1, 0.951% due 7/25/66<sup>(c)(d)</sup> | 498841  |
| 930647 | &nbsp;&nbsp;&nbsp; Series 2021-6, Class A1, 1.458% due 9/25/66<sup>(c)(d)</sup> | 799929  |
| 200000 | &nbsp;&nbsp;&nbsp; ARDN Mortgage Trust, Series 2025-ARCP, Class A, 5.410% <br>(1-Month TSFR + 1.750%) due 6/15/35<sup>(c)(d)</sup> | 200480  |
|  | BANK:<br>|  |
| 9590878 | &nbsp;&nbsp;&nbsp; Series 2017-BNK4, Class XA, 1.323% due 5/15/50<sup>(d)(e)</sup> | 97276  |
| 14842146 | &nbsp;&nbsp;&nbsp; Series 2018-BN10, Class XA, 0.683% due 2/15/61<sup>(d)(e)</sup> | 155615  |
| 405000 | &nbsp;&nbsp;&nbsp; Series 2018-BN13, Class B, 4.557% due 8/15/61<sup>(d)</sup> | 394543  |
| 6391439 | &nbsp;&nbsp;&nbsp; Series 2022-BNK39, Class XA, 0.413% due 2/15/55<sup>(d)(e)</sup> | 136380  |
| 1499141 | &nbsp;&nbsp;&nbsp; Series 2023-BNK45, Class XA, 1.069% due 2/15/56<sup>(d)(e)</sup> | 83318  |
| 3452326 | &nbsp;&nbsp;&nbsp; Series 2024-BNK47, Class XA, 0.821% due 6/15/57<sup>(d)(e)</sup> | 186875  |
| 3858993 | &nbsp;&nbsp;&nbsp; Series 2024-BNK48, Class XA, 1.144% due 10/15/57<sup>(d)(e)</sup> | 304699  |
|  | BANK5:<br>|  |
| 1033182 | &nbsp;&nbsp;&nbsp; Series 2023-5YR4, Class XA, 1.005% due 12/15/56<sup>(d)(e)</sup> | 23789  |
| 12238306 | &nbsp;&nbsp;&nbsp; Series 2024-5YR8, Class XA, 0.899% due 8/15/57<sup>(d)(e)</sup> | 329113  |
| 360000 | &nbsp;&nbsp;&nbsp; Series 2024-5YR9, Class A3, 5.614% due 8/15/57 | 376787  |
| 180000 | &nbsp;&nbsp;&nbsp; Series 2025-5YR15, Class AS, 5.762% due 7/15/58 | 188395  |
| 343000 | &nbsp;&nbsp;&nbsp; Series 2025-5YR16, Class AS, 5.751% due 8/15/63<sup>(d)</sup> | 359004  |
| 260000 | &nbsp;&nbsp;&nbsp; Series 2025-5YR17, Class AS, 5.626% due 11/15/58<sup>(d)</sup> | 270769  |
| 155000 | &nbsp;&nbsp;&nbsp; Series 2025-5YR18, Class A3, 5.145% due 12/15/58 | 161047  |
| 665000 | &nbsp;&nbsp;&nbsp; Series 2026-5YR20, Class AS, 5.336% due 2/15/59 | 690098  |
| 406000 | &nbsp;&nbsp;&nbsp; Series 2026-5YR20, Class C, 6.037% due 2/15/59<sup>(d)</sup> | 422410  |
| 270000 | BANK5 Trust, Series 2024-5YR6, Class A3, 6.225% due 5/15/57 | 285367  |
|  | BBCMS Mortgage Trust:<br>|  |
| 1413014 | &nbsp;&nbsp;&nbsp; Series 2020-C7, Class XA, 1.592% due 4/15/53<sup>(d)(e)</sup> | 59146  |
| 362000 | &nbsp;&nbsp;&nbsp; Series 2024-5C29, Class A3, 5.208% due 9/15/57 | 374192  |
| 2483798 | &nbsp;&nbsp;&nbsp; Series 2024-C24, Class XA, 1.624% due 2/15/57<sup>(d)(e)</sup> | 227186  |
| 3671529 | &nbsp;&nbsp;&nbsp; Series 2024-C26, Class XA, 1.013% due 5/15/57<sup>(d)(e)</sup> | 254737  |
| 2420447 | &nbsp;&nbsp;&nbsp; Series 2024-C28, Class XA, 1.108% due 9/15/57<sup>(d)(e)</sup> | 177656  |
| 259000 | &nbsp;&nbsp;&nbsp; Series 2025-5C37, Class AS, 5.382% due 9/15/58<sup>(d)</sup> | 268973  |
| 252000 | &nbsp;&nbsp;&nbsp; Series 2025-5C38, Class AS, 5.476% due 11/15/58 | 263043  |
| 1956970 | &nbsp;&nbsp;&nbsp; Series 2025-C32, Class XA, 1.128% due 2/15/62<sup>(d)(e)</sup> | 160035  |
| 1337000 | &nbsp;&nbsp;&nbsp; Series 2026-5C40, Class AS, 5.529% due 2/15/59<sup>(d)</sup> | 1398011  |
| 1705903 | Bear Stearns ALT-A Trust, Series 2006-1, Class 21A2, 4.393% due 2/25/36<sup>(d)</sup> | 1185900  |
|  | Benchmark Mortgage Trust:<br>|  |
| 2110000 | &nbsp;&nbsp;&nbsp; Series 2020-B19, Class A5, 1.850% due 9/15/53 | 1906807  |
| 2324955 | &nbsp;&nbsp;&nbsp; Series 2020-B22, Class XA, 1.489% due 1/15/54<sup>(d)(e)</sup> | 135161  |
| 2965000 | &nbsp;&nbsp;&nbsp; Series 2022-B35, Class A5, 4.442% due 5/15/55<sup>(d)</sup> | 2942173  |

---

See Notes to Financial Statements.

146<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  |
| **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  |
| $6186319 | &nbsp;&nbsp;&nbsp; Series 2023-B39, Class XA, 0.573% due 7/15/56<sup>(d)(e)</sup> | $213339  |
| 1695306 | &nbsp;&nbsp;&nbsp; Series 2023-B40, Class XA, 1.173% due 12/15/56<sup>(d)(e)</sup> | 88669  |
| 262000 | &nbsp;&nbsp;&nbsp; Series 2024-V10, Class AS, 5.725% due 9/15/57<sup>(d)</sup> | 272181  |
| 260000 | &nbsp;&nbsp;&nbsp; Series 2024-V6, Class A3, 5.926% due 3/15/57 | 272781  |
| 262000 | &nbsp;&nbsp;&nbsp; Series 2024-V6, Class AS, 6.384% due 3/15/57 | 276991  |
| 358000 | &nbsp;&nbsp;&nbsp; Series 2024-V9, Class A3, 5.602% due 8/15/57 | 374070  |
| 406000 | &nbsp;&nbsp;&nbsp; Series 2025-V14, Class AM, 6.090% due 4/15/57<sup>(d)</sup> | 429453  |
| 180000 | &nbsp;&nbsp;&nbsp; Series 2025-V16, Class A3, 5.439% due 8/15/58<sup>(d)</sup> | 188774  |
| 346000 | &nbsp;&nbsp;&nbsp; Series 2025-V17, Class AM, 5.425% due 9/15/58<sup>(d)</sup> | 358468  |
| 195000 | &nbsp;&nbsp;&nbsp; Series 2025-V18, Class AS, 5.593% due 10/15/58 | 204341  |
| 325000 | &nbsp;&nbsp;&nbsp; Series 2026-V20, Class AM, 5.436% due 2/15/59<sup>(c)</sup> | 337523  |
| 406000 | &nbsp;&nbsp;&nbsp; Series 2026-V20, Class B, 5.687% due 2/15/59<sup>(d)</sup> | 422497  |
| 249717 | BINOM Securitization Trust, Series 2021-INV1, Class A1, 2.034% due 6/25/56<sup>(c)(d)</sup> | 232833  |
|  | BMO Mortgage Trust:<br>|  |
| 361000 | &nbsp;&nbsp;&nbsp; Series 2024-5C6, Class A3, 5.316% due 9/15/57 | 374009  |
| 232000 | &nbsp;&nbsp;&nbsp; Series 2024-5C7, Class AS, 5.888% due 11/15/57<sup>(d)</sup> | 239631  |
| 3404090 | &nbsp;&nbsp;&nbsp; Series 2024-C9, Class XA, 0.860% due 7/15/57<sup>(d)(e)</sup> | 209665  |
| 261000 | &nbsp;&nbsp;&nbsp; Series 2025-5C12, Class AS, 5.557% due 10/15/58 | 272307  |
| 785000 | BOCA Commercial Mortgage Trust, Series 2025-BOCA, Class A, 5.260% (1-Month TSFR + 1.600%) due 12/15/42<sup>(c)(d)</sup> | 788191  |
| 116473 | BRAVO Residential Funding Trust, Series 2021-NQM1, Class A1, 0.941% due 2/25/49<sup>(c)(d)</sup> | 111006  |
| 130000 | BSTN Commercial Mortgage Trust, Series 2025-HUB, Class A, 5.062% due 4/13/41<sup>(c)(d)</sup> | 132121  |
| 695000 | BWAY Trust, Series 2025-1535, Class A, 6.519% due 5/5/42<sup>(c)(d)</sup> | 715017  |
| 3375000 | BX, Series 2024-PALM, Class B, 5.451% (1-Month TSFR + 1.791%) due 6/15/37<sup>(c)(d)</sup> | 3352870  |
|  | BX Commercial Mortgage Trust:<br>|  |
| 2107000 | &nbsp;&nbsp;&nbsp; Series 2024-MDHS, Class B, 5.501% (1-Month TSFR + 1.841%) due 5/15/41<sup>(c)(d)</sup> | 2109634  |
| 2694284 | &nbsp;&nbsp;&nbsp; Series 2025-JDI, Class A, 5.060% (1-Month TSFR + 1.400%) due 11/15/42<sup>(c)(d)</sup> | 2697652  |
| 1310000 | &nbsp;&nbsp;&nbsp; Series 2026-CSMO, Class A, 5.067% (1-Month TSFR + 1.400%) due 2/15/42<sup>(c)(d)</sup> | 1310000  |
| 270000 | &nbsp;&nbsp;&nbsp; Series 2026-CSMO, Class B, 5.367% (1-Month TSFR + 1.700%) due 2/15/42<sup>(c)(d)</sup> | 270337  |
| 1590000 | &nbsp;&nbsp;&nbsp; Series 2026-VLT9, Class A, 5.373% (1-Month TSFR + 1.700%) due 3/15/45<sup>(c)(d)</sup> | 1588012  |
| 270000 | &nbsp;&nbsp;&nbsp; Series 2026-XL6, Class A, 4.870% (1-Month TSFR + 1.200%) due 3/15/43<sup>(c)(d)</sup> | 270170  |
|  | BX Trust:<br>|  |
| 200000 | &nbsp;&nbsp;&nbsp; Series 2019-OC11, Class E, 3.944% due 12/9/41<sup>(c)(d)</sup> | 187221  |
| 530000 | &nbsp;&nbsp;&nbsp; Series 2025-ARIA, Class A, 5.031% due 12/13/42<sup>(c)(d)</sup> | 544064  |

---

See Notes to Financial Statements.

147<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  |
| **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  |
| $1700000 | &nbsp;&nbsp;&nbsp; Series 2025-VOLT, Class A, 5.360% (1-Month TSFR + 1.700%) due 12/15/44<sup>(c)(d)</sup> | $1701594  |
| 1775000 | &nbsp;&nbsp;&nbsp; Series 2026-CART, Class A, 4.714% (1-Month TSFR + 1.050%) due 2/15/36<sup>(c)(d)</sup> | 1772227  |
| 182000 | BXP Trust, Series 2017-GM, Class B, 3.425% due 6/13/39<sup>(c)(d)</sup> | 178867  |
| 14455104 | CD Mortgage Trust, Series 2017-CD4, Class XA, 1.204% due 5/10/50<sup>(d)(e)</sup> | 115872  |
| 176000 | CENT, Series 2025-CITY, Class A, 4.920% due 7/10/40<sup>(c)(d)</sup> | 180388  |
| 638958 | CIM Trust, Series 2021-R6, Class A1, 1.425% due 7/25/61<sup>(c)(d)</sup> | 595544  |
|  | Citigroup Commercial Mortgage Trust:<br>|  |
| 6798359 | &nbsp;&nbsp;&nbsp; Series 2015-GC35, Class XA, 0.493% due 11/10/48<sup>(d)(e)</sup> | 3645  |
| 400000 | &nbsp;&nbsp;&nbsp; Series 2016-P4, Class B, 3.377% due 7/10/49 | 382952  |
| 170000 | &nbsp;&nbsp;&nbsp; Series 2020-555, Class A, 2.647% due 12/10/41<sup>(c)</sup> | 156576  |
| 2195000 | &nbsp;&nbsp;&nbsp; Series 2023-SMRT, Class B, 5.852% due 10/12/40<sup>(c)(d)</sup> | 2248963  |
|  | COLT Mortgage Loan Trust:<br>|  |
| 359670 | &nbsp;&nbsp;&nbsp; Series 2021-1, Class A1, 0.910% due 6/25/66<sup>(c)(d)</sup> | 316853  |
| 396266 | &nbsp;&nbsp;&nbsp; Series 2021-2, Class A1, 0.924% due 8/25/66<sup>(c)(d)</sup> | 340646  |
| 956713 | &nbsp;&nbsp;&nbsp; Series 2022-1, Class A1, 2.284% due 12/27/66<sup>(c)(d)</sup> | 895685  |
| 307000 | &nbsp;&nbsp;&nbsp; Series 2026-1, Class A1, 4.758% due 2/25/71<sup>(c)(d)</sup> | 307196  |
|  | Commercial Mortgage Trust:<br>|  |
| 405000 | &nbsp;&nbsp;&nbsp; Series 2016-COR1, Class B, 3.897% due 10/10/49 | 375399  |
| 203000 | &nbsp;&nbsp;&nbsp; Series 2022-HC, Class A, 2.819% due 1/10/39<sup>(c)</sup> | 196993  |
| 255000 | &nbsp;&nbsp;&nbsp; Series 2024-CBM, Class A2, 5.867% due 12/10/41<sup>(c)(d)</sup> | 260833  |
|  | Credit Suisse Commercial Mortgage Capital Trust:<br>|  |
| 900996 | &nbsp;&nbsp;&nbsp; Series 2018-RPL9, Class A, 3.850% due 9/25/57<sup>(c)(d)</sup> | 881532  |
| 290433 | &nbsp;&nbsp;&nbsp; Series 2021-AFC1, Class A1, 0.830% due 3/25/56<sup>(c)(d)</sup> | 250107  |
| 381304 | &nbsp;&nbsp;&nbsp; Series 2021-NQM5, Class A1, 0.938% due 5/25/66<sup>(c)(d)</sup> | 326711  |
| 2277217 | &nbsp;&nbsp;&nbsp; Series 2021-RPL3, Class A1, 2.000% due 1/25/60<sup>(c)(d)</sup> | 2057918  |
| 268941 | &nbsp;&nbsp;&nbsp; Series 2021-RPL4, Class A1, 4.153% due 12/27/60<sup>(c)(d)</sup> | 268090  |
| 1260897 | CSFB Mortgage-Backed Pass-Through Certificates, Series 2005-9, Class 5A6, 5.500% due 10/25/35 | 594243  |
|  | CSMC:<br>|  |
| 752880 | &nbsp;&nbsp;&nbsp; Series 2010-8R, Class 5A11, 5.554% due 2/26/37<sup>(c)(d)</sup> | 765671  |
| 151878 | &nbsp;&nbsp;&nbsp; Series 2021-B33, Class A1, 3.053% due 10/10/43<sup>(c)</sup> | 145961  |
| 106517 | &nbsp;&nbsp;&nbsp; Series 2021-NQM1, Class A1, 0.809% due 5/25/65<sup>(c)(d)</sup> | 97809  |
| 509135 | &nbsp;&nbsp;&nbsp; Series 2021-NQM2, Class A1, 1.179% due 2/25/66<sup>(c)(d)</sup> | 462841  |
| 594011 | &nbsp;&nbsp;&nbsp; Series 2021-NQM4, Class A1, 1.101% due 5/25/66<sup>(c)(d)</sup> | 529467  |
| 464272 | &nbsp;&nbsp;&nbsp; Series 2021-NQM8, Class A1, 2.841% due 10/25/66<sup>(c)(d)</sup> | 431238  |
|  | CSTL Commercial Mortgage Trust:<br>|  |
| 1567000 | &nbsp;&nbsp;&nbsp; Series 2024-GATE, Class A, 4.764% due 11/10/41<sup>(c)(d)</sup> | 1589004  |
| 2260000 | &nbsp;&nbsp;&nbsp; Series 2026-GATE3, Class A, 4.695% due 2/10/43<sup>(c)(d)</sup> | 2286994  |
| 200000 | &nbsp;&nbsp;&nbsp; Series 2026-GATE3, Class B, 4.938% due 2/10/43<sup>(c)(d)</sup> | 202375  |
|  | DBJPM Mortgage Trust:<br>|  |
| 21195000 | &nbsp;&nbsp;&nbsp; Series 2017-C6, Class XB, 0.204% due 6/10/50<sup>(d)(e)</sup> | 72478  |
| 1755829 | &nbsp;&nbsp;&nbsp; Series 2020-C9, Class XA, 1.589% due 9/15/53<sup>(d)(e)</sup> | 71401  |

---

See Notes to Financial Statements.

148<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  |
| **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  |
| $300000 | DC Trust, Series 2024-HLTN, Class A, 5.727% due 4/13/40<sup>(c)(d)</sup> | $304437  |
|  | Deephaven Residential Mortgage Trust:<br>|  |
| 43847 | &nbsp;&nbsp;&nbsp; Series 2021-1, Class A1, 0.715% due 5/25/65<sup>(c)(d)</sup> | 42397  |
| 162071 | &nbsp;&nbsp;&nbsp; Series 2021-2, Class A1, 0.899% due 4/25/66<sup>(c)(d)</sup> | 146255  |
| 180000 | Del Amo Fashion Center Trust, Series 2017-AMO, Class A, 3.636% due 6/5/35<sup>(c)(d)</sup> | 175554  |
| 3428856 | &nbsp;&nbsp;&nbsp; DSLA Mortgage Loan Trust, Series 2005-AR4, Class 1A, 4.301% <br>(1-Month TSFR + 0.634%) due 8/19/45<sup>(d)</sup> | 2682335  |
| 456185 | EFMT, Series 2025-INV5, Class A1, 0.000% due 12/25/70<sup>#(c)(d)</sup> | 459520  |
|  | Ellington Financial Mortgage Trust:<br>|  |
| 66130 | &nbsp;&nbsp;&nbsp; Series 2021-1, Class A1, 0.797% due 2/25/66<sup>(c)(d)</sup> | 58727  |
| 177012 | &nbsp;&nbsp;&nbsp; Series 2021-2, Class A1, 0.931% due 6/25/66<sup>(c)(d)</sup> | 153136  |
| 270000 | ELP Commercial Mortgage Trust, Series 2025-ELP, Class E, 6.665% due 11/13/42<sup>(c)(d)</sup> | 277969  |
| 3195000 | &nbsp;&nbsp;&nbsp; Extended Stay America Trust, Series 2026-ESH2, Class A, 4.860% <br>(1-Month TSFR + 1.200%) due 2/15/43<sup>(c)(d)</sup> | 3195998  |
| 1100000 | Fashion Show Mall LLC, Series 2024-SHOW, Class A, 5.274% due 10/10/41<sup>(c)(d)</sup> | 1125222  |
|  | Federal Home Loan Mortgage Corp. (FHLMC). REMICS:<br>|  |
| 3952231 | &nbsp;&nbsp;&nbsp; Series 4223, Class SB, 0.850% (SOFR30A + 5.293%) due 7/15/43<sup>(d)</sup> | 2912231  |
| 502010 | &nbsp;&nbsp;&nbsp; Series 4447, Class IO, 5.000% due 3/15/45<sup>(e)</sup> | 99994  |
| 133539 | &nbsp;&nbsp;&nbsp; Series 4518, Class CZ, 3.500% due 10/15/45 | 128946  |
| 161375 | &nbsp;&nbsp;&nbsp; Series 4751, Class PL, 3.000% due 12/15/47 | 129724  |
| 3224081 | &nbsp;&nbsp;&nbsp; Series 4892, Class ES, 2.368% (SOFR30A + 6.036%) due 7/25/45<sup>(d)(e)</sup> | 386074  |
| 7000035 | &nbsp;&nbsp;&nbsp; Series 4957, Class PB, 2.500% due 3/25/50 | 6098980  |
| 285042 | &nbsp;&nbsp;&nbsp; Series 5018, Class LW, 1.000% due 10/25/40 | 248154  |
| 10152294 | &nbsp;&nbsp;&nbsp; Series 5068, Class UZ, 2.500% due 1/25/51 | 6801131  |
| 619613 | &nbsp;&nbsp;&nbsp; Series 5083, Class AI, 2.500% due 3/25/51<sup>(e)</sup> | 91303  |
| 1172730 | &nbsp;&nbsp;&nbsp; Series 5092, Class WI, 2.500% due 4/25/36<sup>(e)</sup> | 100544  |
| 5147375 | &nbsp;&nbsp;&nbsp; Series 5131, Class IG, 3.500% due 8/25/51<sup>(e)</sup> | 924333  |
| 696002 | &nbsp;&nbsp;&nbsp; Series 5169, Class IO, 3.000% due 9/25/51<sup>(e)</sup> | 111541  |
| 562127 | &nbsp;&nbsp;&nbsp; Series 5178, Class IO, 4.000% due 3/25/45<sup>(e)</sup> | 90886  |
| 438289 | &nbsp;&nbsp;&nbsp; Series 5201, Class PA, 2.500% due 3/25/52 | 402351  |
| 1188120 | &nbsp;&nbsp;&nbsp; Series 5537, Class CS, 2.083% (SOFR30A + 5.750%) due 5/25/55<sup>(d)(e)</sup> | 70778  |
| 214322 | &nbsp;&nbsp;&nbsp; Series 5544, Class B, 5.000% due 8/25/52 | 215518  |
|  | Federal National Mortgage Association (FNMA), Aces:<br>|  |
| 30017331 | &nbsp;&nbsp;&nbsp; Series 2020-M12, Class IO, 1.281% due 7/25/29<sup>(d)(e)</sup> | 911161  |
| 8947294 | &nbsp;&nbsp;&nbsp; Series 2020-M15, Class X1, 1.449% due 9/25/31<sup>(d)(e)</sup> | 514445  |
| 20522701 | &nbsp;&nbsp;&nbsp; Series 2020-M7, Class X2, 1.237% due 3/25/31<sup>(d)(e)</sup> | 751373  |
| 4049486 | &nbsp;&nbsp;&nbsp; Series 2022-M4, Class A1X, 2.457% due 5/25/30<sup>(d)</sup> | 3908956  |
| 6320092 | &nbsp;&nbsp;&nbsp; Series 2022-M5, Class A1, 2.335% due 1/1/34<sup>(d)</sup> | 6025074  |
| 6844000 | &nbsp;&nbsp;&nbsp; Series 2025-M1, Class A2, 4.700% due 1/25/35<sup>(d)</sup> | 7071109  |

---

See Notes to Financial Statements.

149<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  |
| **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  |
|  | Federal National Mortgage Association (FNMA), Interest Strip:<br>|  |
| $1033417 | &nbsp;&nbsp;&nbsp; Series 426, Class C38, 2.000% due 3/25/52<sup>(e)</sup> | $128964  |
| 8054202 | &nbsp;&nbsp;&nbsp; Series 427, Class C28, 2.500% due 10/25/50<sup>(e)</sup> | 1298846  |
| 843028 | &nbsp;&nbsp;&nbsp; Series 429, Class C3, 2.500% due 9/25/52<sup>(e)</sup> | 130881  |
| 858983 | &nbsp;&nbsp;&nbsp; Series 437, Class C8, 2.500% due 6/25/52<sup>(e)</sup> | 128521  |
|  | Federal National Mortgage Association (FNMA), REMICS:<br>|  |
| 90983 | &nbsp;&nbsp;&nbsp; Series 2011-51, Class TO, 0.000% due 6/25/41<sup>#(f)</sup> | 70740  |
| 98954 | &nbsp;&nbsp;&nbsp; Series 2013-2, Class MA, 3.500% due 2/25/43 | 96244  |
| 643243 | &nbsp;&nbsp;&nbsp; Series 2013-72, Class IW, 3.500% due 7/25/33<sup>(e)</sup> | 36709  |
| 243915 | &nbsp;&nbsp;&nbsp; Series 2015-55, Class PD, 2.500% due 3/25/43 | 241139  |
| 402912 | &nbsp;&nbsp;&nbsp; Series 2016-3, Class MI, 5.500% due 2/25/46<sup>(e)</sup> | 52378  |
| 550911 | &nbsp;&nbsp;&nbsp; Series 2016-43, Class GZ, 3.000% due 7/25/46 | 506915  |
| 847662 | &nbsp;&nbsp;&nbsp; Series 2017-105, Class ZE, 3.000% due 1/25/48 | 707291  |
| 307211 | &nbsp;&nbsp;&nbsp; Series 2020-35, Class AI, 3.000% due 6/25/50<sup>(e)</sup> | 48769  |
| 552181 | &nbsp;&nbsp;&nbsp; Series 2020-37, Class IM, 4.000% due 6/25/50<sup>(e)</sup> | 110210  |
| 455179 | &nbsp;&nbsp;&nbsp; Series 2020-74, Class HI, 5.500% due 10/25/50<sup>(e)</sup> | 76668  |
| 595244 | &nbsp;&nbsp;&nbsp; Series 2020-77, Class HI, 4.000% due 11/25/50<sup>(e)</sup> | 120956  |
| 1349400 | &nbsp;&nbsp;&nbsp; Series 2020-99, Class KI, 1.500% due 11/25/35<sup>(e)</sup> | 61220  |
| 811027 | &nbsp;&nbsp;&nbsp; Series 2021-3, Class NI, 2.500% due 2/25/51<sup>(e)</sup> | 122732  |
| 813842 | &nbsp;&nbsp;&nbsp; Series 2021-3, Class TI, 2.500% due 2/25/51<sup>(e)</sup> | 140025  |
| 787116 | &nbsp;&nbsp;&nbsp; Series 2021-95, Class GI, 3.000% due 1/25/52<sup>(e)</sup> | 125099  |
| 10455265 | &nbsp;&nbsp;&nbsp; Series 2021-95, Class ZV, 2.500% due 1/25/52 | 6556310  |
| 676623 | &nbsp;&nbsp;&nbsp; Series 2022-3, Class PI, 3.000% due 1/25/52<sup>(e)</sup> | 93596  |
| 282191 | &nbsp;&nbsp;&nbsp; Series 2022-5, Class AB, 2.000% due 3/25/50 | 249062  |
| 7696431 | &nbsp;&nbsp;&nbsp; Series 2023-36, Class IO, 2.500% due 10/25/52<sup>(e)</sup> | 1182470  |
| 1129525 | &nbsp;&nbsp;&nbsp; Series 2024-70, Class SA, 2.283% (SOFR30A + 5.950%) due 10/25/54<sup>(d)(e)</sup> | 58874  |
| 8027989 | &nbsp;&nbsp;&nbsp; Series 2025-108, Class MC, 4.500% due 5/25/55 | 8019878  |
| 744194 | &nbsp;&nbsp;&nbsp; Series 2025-19, Class SC, 2.173% (SOFR30A + 5.840%) due 3/25/55<sup>(d)(e)</sup> | 37808  |
| 535602 | &nbsp;&nbsp;&nbsp; Series 2025-28, Class BA, 5.000% due 4/25/52 | 535449  |
| 356134 | &nbsp;&nbsp;&nbsp; Series 2025-3, Class BA, 5.500% due 3/25/52 | 361257  |
| 328515 | &nbsp;&nbsp;&nbsp; Series 2025-3, Class DA, 5.500% due 4/25/52 | 336055  |
| 342733 | &nbsp;&nbsp;&nbsp; Series 2025-34, Class BA, 5.000% due 12/25/51 | 343375  |
|  | Freddie Mac Multifamily Structured Pass-Through Certificates:<br>|  |
| 99806005 | &nbsp;&nbsp;&nbsp; Series K064, Class X1, 0.584% due 3/25/27<sup>(d)(e)</sup> | 463429  |
| 26140703 | &nbsp;&nbsp;&nbsp; Series K066, Class X1, 0.725% due 6/25/27<sup>(d)(e)</sup> | 178251  |
| 2034873 | &nbsp;&nbsp;&nbsp; Series K118, Class X1, 0.946% due 9/25/30<sup>(d)(e)</sup> | 73541  |
| 5018871 | &nbsp;&nbsp;&nbsp; Series K124, Class X1, 0.714% due 12/25/30<sup>(d)(e)</sup> | 145436  |
| 53168316 | &nbsp;&nbsp;&nbsp; Series K125, Class X1, 0.574% due 1/25/31<sup>(d)(e)</sup> | 1274508  |
| 30353545 | &nbsp;&nbsp;&nbsp; Series K129, Class X1, 1.026% due 5/25/31<sup>(d)(e)</sup> | 1234114  |
| 27586540 | &nbsp;&nbsp;&nbsp; Series K130, Class X1, 1.034% due 6/25/31<sup>(d)(e)</sup> | 1261182  |
| 31221547 | &nbsp;&nbsp;&nbsp; Series K132, Class X1, 0.505% due 8/25/31<sup>(d)(e)</sup> | 743778  |
| 5565000 | &nbsp;&nbsp;&nbsp; Series K-158, Class A2, 4.050% due 7/25/33 | 5561141  |

---

See Notes to Financial Statements.

150<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  |
| **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  |
| $1769813 | &nbsp;&nbsp;&nbsp; Series K-162, Class X1, 0.370% due 12/25/33<sup>(d)(e)</sup> | $49294  |
| 2994094 | &nbsp;&nbsp;&nbsp; Series K-164, Class X1, 0.282% due 5/25/34<sup>(d)(e)</sup> | 70855  |
| 46093901 | &nbsp;&nbsp;&nbsp; Series K-165, Class X1, 0.599% due 9/25/34<sup>(d)(e)</sup> | 2082085  |
| 1572130 | &nbsp;&nbsp;&nbsp; Series K-170, Class X1, 0.209% due 2/25/35<sup>(d)(e)</sup> | 30869  |
| 266646271 | &nbsp;&nbsp;&nbsp; Series K-173, Class X1, 0.026% due 9/25/35<sup>(d)(e)</sup> | 1994994  |
| 2344629 | &nbsp;&nbsp;&nbsp; Series K753, Class X1, 0.231% due 10/25/30<sup>(d)(e)</sup> | 28407  |
| 1477141 | &nbsp;&nbsp;&nbsp; Series Q001, Class A3, 3.815% due 2/25/32 | 1454619  |
|  | Freddie Mac Seasoned Credit Risk Transfer Trust:<br>|  |
| 231054 | &nbsp;&nbsp;&nbsp; Series 2019-1, Class MA, 3.500% due 7/25/58 | 227590  |
| 526206 | &nbsp;&nbsp;&nbsp; Series 2020-1, Class MT, 2.500% due 8/25/59 | 453158  |
| 5172248 | &nbsp;&nbsp;&nbsp; Series 2020-2, Class MT, 2.000% due 11/25/59 | 4237530  |
| 4700025 | &nbsp;&nbsp;&nbsp; Series 2020-3, Class M5TW, 3.000% due 5/25/60 | 4270622  |
|  | Freddie Mac STACR REMIC Trust:<br>|  |
| 1040000 | &nbsp;&nbsp;&nbsp; Series 2021-DNA6, Class B1, 7.067% (SOFR30A + 3.400%) due 10/25/41<sup>(c)(d)</sup> | 1056442  |
| 550000 | &nbsp;&nbsp;&nbsp; Series 2022-DNA4, Class M1B, 7.017% (SOFR30A + 3.350%) due 5/25/42<sup>(c)(d)</sup> | 565471  |
| 245000 | &nbsp;&nbsp;&nbsp; Series 2022-DNA7, Class M1B, 8.667% (SOFR30A + 5.000%) due 3/25/52<sup>(c)(d)</sup> | 259706  |
| 570000 | &nbsp;&nbsp;&nbsp; Series 2022-HQA3, Class M1B, 7.217% (SOFR30A + 3.550%) due 8/25/42<sup>(c)(d)</sup> | 591695  |
|  | Freddie Mac Strips:<br>|  |
| 498750 | &nbsp;&nbsp;&nbsp; Series 303, Class C10, 3.500% due 1/15/33<sup>(e)</sup> | 37648  |
| 785771 | &nbsp;&nbsp;&nbsp; Series 375, Class C1, 2.500% due 1/25/51<sup>(e)</sup> | 123343  |
| 700048 | &nbsp;&nbsp;&nbsp; Series 386, Class C14, 2.500% due 3/15/52<sup>(e)</sup> | 101801  |
| 2106903 | &nbsp;&nbsp;&nbsp; Series 389, Class C1, 1.500% due 5/15/37<sup>(e)</sup> | 107368  |
| 1089439 | &nbsp;&nbsp;&nbsp; Series 389, Class C35, 2.000% due 6/15/52<sup>(e)</sup> | 147046  |
| 870287 | &nbsp;&nbsp;&nbsp; Series 405, Class C17, 2.500% due 8/25/52<sup>(e)</sup> | 133387  |
| 200000 | FS Trust, Series 2026-HULA, Class A, 5.120% (1-Month TSFR + 1.450%) due 3/15/41<sup>(c)(d)</sup> | 200000  |
|  | GCAT Trust:<br>|  |
| 299391 | &nbsp;&nbsp;&nbsp; Series 2021-NQM1, Class A1, 0.874% due 1/25/66<sup>(c)(d)</sup> | 271075  |
| 440608 | &nbsp;&nbsp;&nbsp; Series 2021-NQM3, Class A1, 1.091% due 5/25/66<sup>(c)(d)</sup> | 394093  |
| 661801 | &nbsp;&nbsp;&nbsp; Series 2021-NQM4, Class A1, 1.093% due 8/25/66<sup>(c)(d)</sup> | 569476  |
| 936278 | &nbsp;&nbsp;&nbsp; Series 2021-NQM5, Class A1, 1.262% due 7/25/66<sup>(c)(d)</sup> | 811903  |
| 279984 | &nbsp;&nbsp;&nbsp; Series 2021-NQM7, Class A1, 1.915% due 8/25/66<sup>(c)(d)</sup> | 262873  |
| 270000 | GGP, Series 2026-TY, Class A, 4.670% due 3/5/43<sup>(c)(d)</sup> | 273012  |
|  | Government National Mortgage Association (GNMA):<br>|  |
| 573000 | &nbsp;&nbsp;&nbsp; Series 2012-116, Class IB, 4.000% due 9/16/42<sup>(e)</sup> | 118859  |
| 1038726 | &nbsp;&nbsp;&nbsp; Series 2012-32, Class Z, 3.500% due 3/20/42 | 982207  |
| 438260 | &nbsp;&nbsp;&nbsp; Series 2014-46, Class IO, 5.000% due 3/16/44<sup>(e)</sup> | 56859  |
| 349159 | &nbsp;&nbsp;&nbsp; Series 2019-5, Class JI, 5.000% due 7/16/44<sup>(e)</sup> | 51855  |
| 6711237 | &nbsp;&nbsp;&nbsp; Series 2020-151, Class MI, 2.500% due 10/20/50<sup>(e)</sup> | 969776  |
| 19927329 | &nbsp;&nbsp;&nbsp; Series 2020-173, Class JI, 2.000% due 11/20/50<sup>(e)</sup> | 2294060  |

---

See Notes to Financial Statements.

151<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  |
| **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  |
| $14399774 | &nbsp;&nbsp;&nbsp; Series 2021-129, Class IO, 0.983% due 6/16/63<sup>(d)(e)</sup> | $1015969  |
| 8659128 | &nbsp;&nbsp;&nbsp; Series 2021-137, Class IQ, 3.000% due 8/20/51<sup>(e)</sup> | 1467421  |
| 3184446 | &nbsp;&nbsp;&nbsp; Series 2021-175, Class IJ, 3.000% due 10/20/51<sup>(e)</sup> | 546695  |
| 20509112 | &nbsp;&nbsp;&nbsp; Series 2021-184, Class IO, 0.886% due 12/16/61<sup>(d)(e)</sup> | 1384105  |
| 676007 | &nbsp;&nbsp;&nbsp; Series 2021-215, Class KA, 2.500% due 10/20/49 | 618430  |
| 11356760 | &nbsp;&nbsp;&nbsp; Series 2021-30, Class IB, 2.500% due 2/20/51<sup>(e)</sup> | 1683031  |
| 16262927 | &nbsp;&nbsp;&nbsp; Series 2021-35, Class IO, 1.034% due 12/16/62<sup>(d)(e)</sup> | 1177743  |
| 18182975 | &nbsp;&nbsp;&nbsp; Series 2021-52, Class IO, 0.722% due 4/16/63<sup>(d)(e)</sup> | 987503  |
| 12996199 | &nbsp;&nbsp;&nbsp; Series 2021-58, Class SL, 0.000% (1-Month TSFR + 3.636%) due 4/20/51<sup>#(d)(e)</sup> | 349634  |
| 3628455 | &nbsp;&nbsp;&nbsp; Series 2021-77, Class EA, 1.000% due 7/20/50 | 2866679  |
| 12307123 | &nbsp;&nbsp;&nbsp; Series 2021-77, Class IT, 2.500% due 5/20/51<sup>(e)</sup> | 2101394  |
| 17977227 | &nbsp;&nbsp;&nbsp; Series 2021-79, Class IO, 0.867% due 8/16/63<sup>(d)(e)</sup> | 1159394  |
| 6531703 | &nbsp;&nbsp;&nbsp; Series 2022-213, Class DO, 0.000% due 1/20/52<sup>#(f)</sup> | 1788683  |
| 26709612 | &nbsp;&nbsp;&nbsp; Series 2022-49, Class IO, 0.756% due 3/16/64<sup>(d)(e)</sup> | 1324089  |
| 12929246 | &nbsp;&nbsp;&nbsp; Series 2022-61, Class EI, 3.000% due 7/20/51<sup>(e)</sup> | 2101348  |
| 7039335 | &nbsp;&nbsp;&nbsp; Series 2022-64, Class IO, 2.500% due 2/20/50<sup>(e)</sup> | 860933  |
| 29968072 | &nbsp;&nbsp;&nbsp; Series 2022-80, Class IO, 0.594% due 6/16/64<sup>(d)(e)</sup> | 1409324  |
| 27403749 | &nbsp;&nbsp;&nbsp; Series 2022-82, Class IO, 0.541% due 2/16/64<sup>(d)(e)</sup> | 1247709  |
| 23672966 | &nbsp;&nbsp;&nbsp; Series 2024-29, Class AI, 0.726% due 10/16/65<sup>(d)(e)</sup> | 1348507  |
| 1405000 | GS Mortgage Securities Corp. II, Series 2024-70P, Class A, 5.487% due 3/10/41<sup>(c)(d)</sup> | 1434581  |
|  | GS Mortgage Securities Corp. Trust:<br>|  |
| 400000 | &nbsp;&nbsp;&nbsp; Series 2018-TWR, Class D, 5.557% (1-Month TSFR + 1.897%) due 7/15/31<sup>(c)(d)</sup> | 40000  |
| 400000 | &nbsp;&nbsp;&nbsp; Series 2018-TWR, Class E, 6.057% (1-Month TSFR + 2.397%) due 7/15/31<sup>(c)(d)</sup> | 20000  |
| 400000 | &nbsp;&nbsp;&nbsp; Series 2018-TWR, Class F, 6.757% (1-Month TSFR + 3.097%) due 7/15/31<sup>(c)(d)</sup> | 10000  |
| 400000 | &nbsp;&nbsp;&nbsp; Series 2018-TWR, Class G, 7.882% (1-Month TSFR + 4.222%) due 7/15/31<sup>(c)(d)</sup> | 4000  |
|  | GS Mortgage Securities Trust:<br>|  |
| 9370289 | &nbsp;&nbsp;&nbsp; Series 2017-GS7, Class XA, 1.022% due 8/10/50<sup>(d)(e)</sup> | 94463  |
| 350000 | &nbsp;&nbsp;&nbsp; Series 2018-GS9, Class C, 4.343% due 3/10/51<sup>(d)</sup> | 301540  |
|  | GS Mortgage-Backed Securities Trust:<br>|  |
| 473815 | &nbsp;&nbsp;&nbsp; Series 2026-NQM1, Class A1, 4.869% due 3/25/66<sup>(c)(d)</sup> | 475188  |
| 279404 | &nbsp;&nbsp;&nbsp; Series 2026-NQM1, Class A2, step bond to yield, 5.123% due 3/25/66<sup>(c)</sup> | 280050  |
| 331692 | HIH Trust, Series 2024-61P, Class A, 5.502% (1-Month TSFR + 1.842%) due 10/15/41<sup>(c)(d)</sup> | 332506  |
| 1207302 | Homes Trust, Series 2023-NQM2, Class A1, step bond to yield, 6.456% due 2/25/68<sup>(c)</sup> | 1207717  |
| 320000 | HTL Commercial Mortgage Trust, Series 2024-T53, Class A, 5.876% due 5/10/39<sup>(c)(d)</sup> | 323603  |

---

See Notes to Financial Statements.

152<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  |
| **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  |
| $170000 | ILPT Commercial Mortgage Trust, Series 2025-LPF2, Class D, 6.508% due 7/13/42<sup>(c)(d)</sup> | $175127  |
|  | Imperial Fund Mortgage Trust:<br>|  |
| 344516 | &nbsp;&nbsp;&nbsp; Series 2021-NQM2, Class A1, 1.073% due 9/25/56<sup>(c)(d)</sup> | 298705  |
| 680241 | &nbsp;&nbsp;&nbsp; Series 2021-NQM3, Class A1, 1.595% due 11/25/56<sup>(c)(d)</sup> | 597456  |
| 395000 | INT Commercial Mortgage Trust, Series 2025-PLAZA, Class A, 5.041% due 11/5/37<sup>(c)(d)</sup> | 403092  |
| 1950000 | JP Morgan Chase Commercial Mortgage Securities Trust, Series 2019-OSB, Class A, 3.397% due 6/5/39<sup>(c)</sup> | 1854939  |
|  | JP Morgan Mortgage Trust:<br>|  |
| 6327440 | &nbsp;&nbsp;&nbsp; Series 2006-S4, Class A7, 6.000% due 1/25/37 | 2229085  |
| 1427058 | &nbsp;&nbsp;&nbsp; Series 2021-3, Class B1, 2.932% due 7/25/51<sup>(c)(d)</sup> | 1240774  |
| 1100000 | JPMCC Commercial Mortgage Securities Trust, Series 2017-JP6, Class A5, 3.490% due 7/15/50 | 1081269  |
| 2885905 | KIND Trust, Series 2021-KIND, Class A, 4.730% (1-Month TSFR + 1.064%) due 8/15/38<sup>(c)(d)</sup> | 2875083  |
|  | LBTY Commercial Mortgage Trust:<br>|  |
| 565000 | &nbsp;&nbsp;&nbsp; Series 2026-225L, Class A, 4.593% due 2/10/43<sup>(c)(d)</sup> | 568692  |
| 270000 | &nbsp;&nbsp;&nbsp; Series 2026-225L, Class B, 4.885% due 2/10/43<sup>(c)(d)</sup> | 270699  |
|  | Legacy Mortgage Asset Trust:<br>|  |
| 258409 | &nbsp;&nbsp;&nbsp; Series 2021-GS2, Class A1, step bond to yield, 5.750% due 4/25/61<sup>(c)</sup> | 259210  |
| 357171 | &nbsp;&nbsp;&nbsp; Series 2021-GS3, Class A1, step bond to yield, 5.750% due 7/25/61<sup>(c)</sup> | 357407  |
| 174125 | &nbsp;&nbsp;&nbsp; Series 2021-GS4, Class A1, step bond to yield, 5.650% due 11/25/60<sup>(c)</sup> | 174288  |
| 2067339 | &nbsp;&nbsp;&nbsp; Lehman XS Trust, Series 2007-4N, Class 1A3, 4.268% <br>(1-Month TSFR + 0.594%) due 3/25/47<sup>(d)</sup> | 1853335  |
| 2200000 | &nbsp;&nbsp;&nbsp; Life Mortgage Trust, Series 2022-BMR2, Class D, 6.202% <br>(1-Month TSFR + 2.542%) due 5/15/39<sup>(c)(d)</sup> | 1861255  |
| 5938106 | Merrill Lynch Mortgage Investors Trust, Series 2006-AF1, Class AF1, 5.750% due 8/25/36 | 2420305  |
|  | MFA Trust:<br>|  |
| 145409 | &nbsp;&nbsp;&nbsp; Series 2021-NQM1, Class A1, 1.153% due 4/25/65<sup>(c)(d)</sup> | 137378  |
| 239299 | &nbsp;&nbsp;&nbsp; Series 2021-NQM2, Class A1, 1.029% due 11/25/64<sup>(c)(d)</sup> | 214593  |
|  | Morgan Stanley Capital I Trust:<br>|  |
| 9392196 | &nbsp;&nbsp;&nbsp; Series 2016-UB11, Class XA, 1.390% due 8/15/49<sup>(d)(e)</sup> | 14801  |
| 10911226 | &nbsp;&nbsp;&nbsp; Series 2016-UB12, Class XA, 0.639% due 12/15/49<sup>(d)(e)</sup> | 16918  |
| 400000 | &nbsp;&nbsp;&nbsp; Series 2019-H7, Class AS, 3.524% due 7/15/52 | 385650  |
| 20304275 | &nbsp;&nbsp;&nbsp; Series 2019-L3, Class XA, 0.602% due 11/15/52<sup>(d)(e)</sup> | 390612  |
| 400000 | &nbsp;&nbsp;&nbsp; Series 2020-L4, Class B, 3.082% due 2/15/53 | 367825  |
| 327734 | &nbsp;&nbsp;&nbsp; Series 2024-NSTB, Class A, 3.900% due 9/24/57<sup>(c)(d)</sup> | 323572  |
|  | Morgan Stanley Residential Mortgage Loan Trust:<br>|  |
| 915090 | &nbsp;&nbsp;&nbsp; Series 2026-DSC1, Class A1, 4.767% due 1/25/71<sup>(c)(d)</sup> | 915118  |
| 378383 | &nbsp;&nbsp;&nbsp; Series 2026-DSC1, Class A2, step bond to yield, 5.020% due 1/25/71<sup>(c)</sup> | 378782  |
| 534930 | &nbsp;&nbsp;&nbsp; Series 2026-NQM1, Class A1, 4.809% due 12/25/70<sup>(c)(d)</sup> | 535530  |

---

See Notes to Financial Statements.

153<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  |
| **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  |
| $778308 | MSWF Commercial Mortgage Trust, Series 2023-2, Class XA, 0.917% due 12/15/56<sup>(d)(e)</sup> | $42951  |
| 180000 | &nbsp;&nbsp;&nbsp; MTN Commercial Mortgage Trust, Series 2022-LPFL, Class A, 5.057% <br>(1-Month TSFR + 1.397%) due 3/15/39<sup>(c)(d)</sup> | 180000  |
|  | New Residential Mortgage Loan Trust:<br>|  |
| 191379 | &nbsp;&nbsp;&nbsp; Series 2021-NQ1R, Class A1, 0.943% due 7/25/55<sup>(c)(d)</sup> | 177246  |
| 96635 | &nbsp;&nbsp;&nbsp; Series 2021-NQ2R, Class A1, 0.941% due 10/25/58<sup>(c)(d)</sup> | 93121  |
| 694917 | &nbsp;&nbsp;&nbsp; Series 2021-NQM3, Class A1, 1.156% due 11/27/56<sup>(c)(d)</sup> | 642440  |
| 203639 | &nbsp;&nbsp;&nbsp; Series 2025-NQM7, Class A1, 5.010% due 10/26/65<sup>(c)(d)</sup> | 204438  |
| 871340 | &nbsp;&nbsp;&nbsp; Series 2025-NQM7, Class A2, step bond to yield, 5.264% due 10/26/65<sup>(c)</sup> | 874793  |
| 251739 | &nbsp;&nbsp;&nbsp; Series 2026-NQM1, Class A1, 4.824% due 11/25/65<sup>(c)(d)</sup> | 251975  |
| 217000 | NJ, Series 2025-WBRK, Class A, 5.867% due 3/5/35<sup>(c)(d)</sup> | 227260  |
| 680798 | NMLT Trust, Series 2021-INV1, Class A1, 1.185% due 5/25/56<sup>(c)(d)</sup> | 609149  |
|  | NXPT Commercial Mortgage Trust:<br>|  |
| 2650000 | &nbsp;&nbsp;&nbsp; Series 2024-STOR, Class A, 4.312% due 11/5/41<sup>(c)(d)</sup> | 2647628  |
| 130000 | &nbsp;&nbsp;&nbsp; Series 2024-STOR, Class B, 4.648% due 11/5/41<sup>(c)(d)</sup> | 130302  |
|  | NYC Commercial Mortgage Trust:<br>|  |
| 590000 | &nbsp;&nbsp;&nbsp; Series 2025-3BP, Class A, 4.873% (1-Month TSFR + 1.213%) due 2/15/42<sup>(c)(d)</sup> | 588894  |
| 240000 | &nbsp;&nbsp;&nbsp; Series 2026-1PARK, Class A, 4.950% (1-Month TSFR + 1.250%) due 2/15/43<sup>(c)(d)</sup> | 240150  |
| 270000 | &nbsp;&nbsp;&nbsp; Series 2026-1PARK, Class C, 5.550% (1-Month TSFR + 1.850%) due 2/15/43<sup>(c)(d)</sup> | 269578  |
| 200000 | &nbsp;&nbsp;&nbsp; Series 2026-7W34, Class A, 5.038% due 2/5/41<sup>(c)(d)</sup> | 203318  |
|  | OBX Trust:<br>|  |
| 468788 | &nbsp;&nbsp;&nbsp; Series 2021-NQM1, Class A1, 1.072% due 2/25/66<sup>(c)(d)</sup> | 422725  |
| 525520 | &nbsp;&nbsp;&nbsp; Series 2026-NQM2, Class A1, 4.818% due 12/1/65<sup>(c)(d)</sup> | 526922  |
| 1000000 | Oceanview Mortgage Trust, Series 2026-1, Class A, 5.104% due 8/25/55<sup>(c)(d)</sup> | 1001746  |
| 245792 | OLIT, Series 2025-HB2, Class A, 3.000% due 11/25/38<sup>(c)(d)</sup> | 241109  |
| 200000 | PENN Commercial Mortgage Trust, Series 2025-P11, Class B, 5.927% due 8/10/42<sup>(c)(d)</sup> | 208765  |
| 140000 | &nbsp;&nbsp;&nbsp; PLYM Commercial Mortgage Trust, Series 2026-IND, Class A, 4.900% <br>(1-Month TSFR + 1.250%) due 3/15/43<sup>(c)(d)</sup> | 140000  |
| 1232532 | PRET Trust, Series 2025-RPL6, Class A1, step bond to yield, 3.850% due 9/25/69<sup>(c)</sup> | 1179726  |
| 3200000 | PRM7 Trust, Series 2025-PRM7, Class A, 4.363% due 11/10/42<sup>(c)(d)</sup> | 3192986  |
|  | PRPM LLC:<br>|  |
| 212763 | &nbsp;&nbsp;&nbsp; Series 2025-5, Class A1, step bond to yield, 5.729% due 7/25/30<sup>(c)</sup> | 212852  |
| 538541 | &nbsp;&nbsp;&nbsp; Series 2025-6, Class A1, step bond to yield, 5.774% due 8/25/28<sup>(c)</sup> | 539178  |
| 376450 | &nbsp;&nbsp;&nbsp; Series 2025-7, Class A1, step bond to yield, 5.503% due 8/25/30<sup>(c)</sup> | 376476  |
| 630000 | &nbsp;&nbsp;&nbsp; Series 2026-1, Class A1, step bond to yield, 5.185% due 2/25/31<sup>(c)</sup> | 629999  |
| 240812 | PRPM Trust, Series 2026-RCF1, Class A1, step bond to yield, 4.845% due 1/25/56<sup>(c)</sup> | 242805  |

---

See Notes to Financial Statements.

154<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  |
| **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  |
|  | Rali Trust:<br>|  |
| $787617 | &nbsp;&nbsp;&nbsp; Series 2005-QS13, Class 1A3, 5.500% due 9/25/35 | $634334  |
| 2409049 | &nbsp;&nbsp;&nbsp; Series 2006-QS17, Class A8, 6.000% due 12/25/36 | 2056250  |
| 74229 | RCO VIII Mortgage LLC, Series 2025-3, Class A1, step bond to yield, 6.435% due 5/25/30<sup>(c)</sup> | 74385  |
| 3235239 | Residential Asset Securitization Trust, Series 2005-A8CB, Class A6, 5.000% due 7/25/35 | 1570434  |
|  | Residential Mortgage Loan Trust:<br>|  |
| 3100000 | &nbsp;&nbsp;&nbsp; Series 2020-1, Class M1, 3.242% due 1/26/60<sup>(c)(d)</sup> | 3041538  |
| 73139 | &nbsp;&nbsp;&nbsp; Series 2021-1R, Class A1, 0.859% due 1/25/65<sup>(c)(d)</sup> | 71181  |
|  | SFO Commercial Mortgage Trust:<br>|  |
| 200000 | &nbsp;&nbsp;&nbsp; Series 2021-555, Class A, 4.924% (1-Month TSFR + 1.264%) due 5/15/38<sup>(c)(d)</sup> | 199500  |
| 180000 | &nbsp;&nbsp;&nbsp; Series 2021-555, Class B, 5.274% (1-Month TSFR + 1.614%) due 5/15/38<sup>(c)(d)</sup> | 179311  |
| 5238000 | SG Residential Mortgage Trust, Series 2021-2, Class B1, 4.038% due 12/25/61<sup>(c)(d)</sup> | 4194426  |
| 1455000 | SHR Trust, Series 2024-LXRY, Class A, 5.610% (1-Month TSFR + 1.950%) due 10/15/41<sup>(c)(d)</sup> | 1456819  |
| 200000 | &nbsp;&nbsp;&nbsp; SPGN Trust, Series 2026-TFLM, Class A, 5.000% <br>(1-Month TSFR + 1.300%) due 2/15/41<sup>(c)(d)</sup> | 199687  |
| 180000 | &nbsp;&nbsp;&nbsp; SREIT Trust, Series 2021-MFP2, Class C, 5.145% <br>(1-Month TSFR + 1.485%) due 11/15/36<sup>(c)(d)</sup> | 179944  |
| 261847 | STAR Trust, Series 2021-1, Class A1, 1.219% due 5/25/65<sup>(c)(d)</sup> | 248452  |
|  | Starwood Mortgage Residential Trust:<br>|  |
| 69374 | &nbsp;&nbsp;&nbsp; Series 2021-2, Class A1, 0.943% due 5/25/65<sup>(c)(d)</sup> | 66280  |
| 697584 | &nbsp;&nbsp;&nbsp; Series 2021-6, Class A1, 1.920% due 11/25/66<sup>(c)(d)</sup> | 627824  |
|  | Towd Point Mortgage Trust:<br>|  |
| 1355476 | &nbsp;&nbsp;&nbsp; Series 2021-R1, Class A1, 2.918% due 11/30/60<sup>(c)(d)</sup> | 1248793  |
| 2156342 | &nbsp;&nbsp;&nbsp; Series 2022-4, Class A1, 3.750% due 9/25/62<sup>(c)</sup> | 2094417  |
| 225886 | TRK Trust, Series 2021-INV1, Class A1, 1.153% due 7/25/56<sup>(c)(d)</sup> | 206120  |
|  | UBS Commercial Mortgage Trust:<br>|  |
| 3568094 | &nbsp;&nbsp;&nbsp; Series 2017-C1, Class XA, 1.457% due 6/15/50<sup>(d)(e)</sup> | 37610  |
| 405000 | &nbsp;&nbsp;&nbsp; Series 2017-C6, Class B, 4.154% due 12/15/50<sup>(d)</sup> | 373266  |
| 113000 | VEGAS Trust, Series 2024-TI, Class A, 5.518% due 11/10/39<sup>(c)</sup> | 114045  |
|  | Verus Securitization Trust:<br>|  |
| 3814000 | &nbsp;&nbsp;&nbsp; Series 2021-1, Class B1, 2.977% due 1/25/66<sup>(c)(d)</sup> | 3147389  |
| 170877 | &nbsp;&nbsp;&nbsp; Series 2021-2, Class A1, 1.031% due 2/25/66<sup>(c)(d)</sup> | 157862  |
| 765715 | &nbsp;&nbsp;&nbsp; Series 2021-5, Class A1, 1.013% due 9/25/66<sup>(c)(d)</sup> | 677210  |
| 802571 | &nbsp;&nbsp;&nbsp; Series 2021-6, Class A1, 1.630% due 10/25/66<sup>(c)(d)</sup> | 720559  |
| 64627 | &nbsp;&nbsp;&nbsp; Series 2021-R1, Class A1, 0.820% due 10/25/63<sup>(c)(d)</sup> | 62804  |
| 150707 | &nbsp;&nbsp;&nbsp; Series 2021-R2, Class A1, 0.918% due 2/25/64<sup>(c)(d)</sup> | 142733  |
| 701886 | &nbsp;&nbsp;&nbsp; Series 2022-1, Class A1, step bond to yield, 3.724% due 1/25/67<sup>(c)</sup> | 675812  |
| 3500000 | &nbsp;&nbsp;&nbsp; Series 2024-R1, Class M1, 5.899% due 9/25/69<sup>(c)(d)</sup> | 3513492  |

---

See Notes to Financial Statements.

155<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  |
| **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  |
| $88077 | VOLT C LLC, Series 2021-NPL9, Class A1, step bond to yield, 5.992% due 5/25/51<sup>(c)</sup> | $88095  |
|  | Wells Fargo Commercial Mortgage Trust:<br>|  |
| 1400000 | &nbsp;&nbsp;&nbsp; Series 2016-BNK1, Class A3, 2.652% due 8/15/49 | 1390420  |
| 8451678 | &nbsp;&nbsp;&nbsp; Series 2017-C38, Class XA, 0.902% due 7/15/50<sup>(d)(e)</sup> | 79854  |
| 405000 | &nbsp;&nbsp;&nbsp; Series 2017-C42, Class B, 4.002% due 12/15/50<sup>(d)</sup> | 377168  |
| 356474 | &nbsp;&nbsp;&nbsp; Series 2018-C45, Class ASB, 4.147% due 6/15/51 | 356486  |
| 4328866 | &nbsp;&nbsp;&nbsp; Series 2024-C63, Class XA, 1.002% due 8/15/57<sup>(d)(e)</sup> | 300765  |
| 261000 | &nbsp;&nbsp;&nbsp; Series 2025-5C6, Class AS, 5.582% due 10/15/58<sup>(d)</sup> | 272080  |
| 255000 | &nbsp;&nbsp;&nbsp; Series 2025-5C7, Class AS, 5.503% due 12/15/58 | 265344  |
| 204000 | &nbsp;&nbsp;&nbsp; Series 2026-5C8, Class A3, 5.034% due 3/15/59 | 210956  |
| 204000 | &nbsp;&nbsp;&nbsp; Series 2026-5C8, Class C, 5.554% due 3/15/59 | 204900  |
|  | Total Mortgage Securities | 271620263  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS** <br>**(Cost – $318,152,397)** | **278998963**  |
| **CORPORATE BONDS & NOTES – 17.7%**  | **CORPORATE BONDS & NOTES – 17.7%**  | **CORPORATE BONDS & NOTES – 17.7%**  |
| **Basic Materials – 0.3%**  | **Basic Materials – 0.3%**  | **Basic Materials – 0.3%**  |
| 200000 | AngloGold Ashanti Holdings PLC, Company Guaranteed Notes, 3.375% due 11/1/28 | 194669  |
| 75000 | ArcelorMittal SA, Senior Unsecured Notes, 6.000% due 6/17/34 | 81456  |
| 200000 | Aris Mining Corp., Company Guaranteed Notes, 8.000% due 10/31/29<sup>(c)</sup> | 209556  |
| 40000 | Arsenal AIC Parent LLC, Senior Secured Notes, 8.000% due 10/1/30<sup>(c)</sup> | 42251  |
|  | BHP Billiton Finance USA Ltd., Company Guaranteed Notes:<br>|  |
| 20000 | &nbsp;&nbsp;&nbsp; 5.125% due 2/21/32 | 20925  |
| 225000 | &nbsp;&nbsp;&nbsp; 4.900% due 2/28/33 | 231536  |
| 25000 | &nbsp;&nbsp;&nbsp; 5.250% due 9/8/33 | 26236  |
| 400000 | CAP SA, Senior Unsecured Notes, 3.900% due 4/27/31 | 333172  |
|  | Celanese US Holdings LLC, Company Guaranteed Notes:<br>|  |
| 45000 | &nbsp;&nbsp;&nbsp; 6.500% due 4/15/30 | 46114  |
| 40000 | &nbsp;&nbsp;&nbsp; 6.750% due 4/15/33 | 41008  |
| 20000 | Chemours Co., Company Guaranteed Notes, 7.875% due 3/15/34<sup>(c)</sup> | 19975  |
| 65000 | Cleveland-Cliffs Inc., Company Guaranteed Notes, 6.875% due 11/1/29<sup>(c)</sup> | 66951  |
| 250000 | Corp. Nacional del Cobre de Chile, Senior Unsecured Notes, 3.000% due 9/30/29 | 239592  |
| 200000 | CSN Resources SA, Company Guaranteed Notes, 5.875% due 4/8/32 | 142369  |
|  | Glencore Funding LLC, Company Guaranteed Notes:<br>|  |
| 495000 | &nbsp;&nbsp;&nbsp; 5.371% due 4/4/29<sup>(c)</sup> | 513088  |
| 50000 | &nbsp;&nbsp;&nbsp; 6.375% due 10/6/30<sup>(c)</sup> | 54120  |
| 95000 | &nbsp;&nbsp;&nbsp; 2.850% due 4/27/31<sup>(c)</sup> | 88653  |
| 60000 | &nbsp;&nbsp;&nbsp; 6.500% due 10/6/33<sup>(c)</sup> | 66868  |
| 95000 | &nbsp;&nbsp;&nbsp; 5.634% due 4/4/34<sup>(c)</sup> | 100473  |
| 200000 | Gold Fields Orogen Holdings BVI Ltd., Company Guaranteed Notes, 6.125% due 5/15/29 | 210206  |

---

See Notes to Financial Statements.

156<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Basic Materials – (continued)**  | **Basic Materials – (continued)**  | **Basic Materials – (continued)**  |
| $23000 | Illuminate Buyer LLC/Illuminate Holdings IV Inc., Senior Unsecured Notes, 9.000% due 7/1/28<sup>(c)</sup> | $22981  |
| 200000 | Inversiones CMPC SA, Company Guaranteed Notes, 6.700% (5-Year CMT Index + 2.834%) due 12/9/57<sup>(c)(d)</sup> | 199100  |
| 25000 | Mativ Holdings Inc., Company Guaranteed Notes, 8.000% due 10/1/29<sup>(c)</sup> | 24673  |
| 200000 | Minsur SA, Senior Unsecured Notes, 4.500% due 10/28/31 | 194037  |
| 35000 | Novelis Corp., Company Guaranteed Notes, 6.875% due 1/30/30<sup>(c)</sup> | 36130  |
| 200000 | OCP SA, Senior Unsecured Notes, 6.750% due 5/2/34 | 216693  |
| 35000 | Olin Corp., Senior Unsecured Notes, 6.625% due 4/1/33<sup>(c)</sup> | 34176  |
| 200000 | Orbia Advance Corp. SAB de CV, Company Guaranteed Notes, 5.875% due 9/17/44 | 162028  |
| 280000 | Rio Tinto Alcan Inc., Senior Unsecured Notes, 6.125% due 12/15/33 | 309004  |
| 83000 | Rio Tinto Finance USA PLC, Company Guaranteed Notes, 5.750% due 3/14/55 | 86144  |
| 90000 | Solstice Advanced Materials Inc., Senior Unsecured Notes, 5.625% due 9/30/33<sup>(c)</sup> | 90974  |
| 153000 | Suzano Netherlands BV, Company Guaranteed Notes, 5.500% due 1/15/36 | 154607  |
| 15000 | Tronox Inc., Senior Secured Notes, 9.125% due 9/30/30<sup>(c)</sup> | 14729  |
| 78000 | Vale Overseas Ltd., Company Guaranteed Notes, 6.400% due 6/28/54 | 81814  |
| 40000 | Volcan Compania Minera SAA, Senior Secured Notes, 8.500% due 10/28/32<sup>(c)</sup> | 41828  |
| 55000 | WR Grace Holdings LLC, Senior Unsecured Notes, 5.625% due 8/15/29<sup>(c)</sup> | 52687  |
|  | Total Basic Materials | 4450823  |
| **Communications – 2.3%**  | **Communications – 2.3%**  | **Communications – 2.3%**  |
|  | Alphabet Inc., Senior Unsecured Notes:<br>|  |
| 195000 | &nbsp;&nbsp;&nbsp; 3.700% due 2/15/29 | 195189  |
| 125000 | &nbsp;&nbsp;&nbsp; 4.400% due 2/15/33 | 126102  |
| 310000 | &nbsp;&nbsp;&nbsp; 5.350% due 11/15/45 | 311339  |
| 105000 | &nbsp;&nbsp;&nbsp; 5.500% due 2/15/46 | 106921  |
| 560000 | &nbsp;&nbsp;&nbsp; 5.300% due 5/15/65 | 530991  |
| 90000 | &nbsp;&nbsp;&nbsp; 5.750% due 2/15/66 | 91653  |
| 425000 | &nbsp;&nbsp;&nbsp; 5.700% due 11/15/75 | 424720  |
| 64436 | Altice France SA, Senior Secured Notes, 6.875% due 7/15/32<sup>(c)</sup> | 61859  |
| 68000 | AppLovin Corp., Senior Unsecured Notes, 5.375% due 12/1/31 | 70086  |
|  | AT&T Inc., Senior Unsecured Notes:<br>|  |
| 660000 | &nbsp;&nbsp;&nbsp; 1.650% due 2/1/28 | 632910  |
| 1986000 | &nbsp;&nbsp;&nbsp; 2.250% due 2/1/32 | 1773699  |
| 3495000 | &nbsp;&nbsp;&nbsp; 2.550% due 12/1/33 | 3031118  |
| 525000 | &nbsp;&nbsp;&nbsp; 5.125% due 4/30/36 | 532735  |
| 290000 | &nbsp;&nbsp;&nbsp; 6.050% due 8/15/56 | 295176  |
| 85000 | Bell Telephone Co. of Canada or Bell Canada, Company Guaranteed Notes, 6.875% (5-Year CMT Index + 2.390%) due 9/15/55<sup>(d)</sup> | 88746  |
| 50000 | Black Pearl Compute LLC, Senior Secured Notes, 6.125% due 2/15/31<sup>(c)</sup> | 51173  |

---

See Notes to Financial Statements.

157<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Communications – (continued)**  | **Communications – (continued)**  | **Communications – (continued)**  |
|  | CCO Holdings LLC/CCO Holdings Capital Corp., Senior Unsecured Notes:<br>|  |
| $31000 | &nbsp;&nbsp;&nbsp; 5.125% due 5/1/27<sup>(c)</sup> | $30993  |
| 140000 | &nbsp;&nbsp;&nbsp; 4.750% due 3/1/30<sup>(c)</sup> | 135347  |
| 120000 | &nbsp;&nbsp;&nbsp; 4.750% due 2/1/32<sup>(c)</sup> | 111591  |
| 50000 | &nbsp;&nbsp;&nbsp; 4.250% due 1/15/34<sup>(c)(g)</sup> | 43555  |
| 20000 | &nbsp;&nbsp;&nbsp; 7.375% due 2/1/36<sup>(c)</sup> | 20301  |
|  | Charter Communications Operating LLC/Charter Communications Operating Capital, Senior Secured Notes:<br>|  |
| 65000 | &nbsp;&nbsp;&nbsp; 6.650% due 2/1/34 | 69035  |
| 285000 | &nbsp;&nbsp;&nbsp; 6.550% due 6/1/34 | 303105  |
| 4335000 | &nbsp;&nbsp;&nbsp; 6.384% due 10/23/35 | 4528201  |
| 196000 | &nbsp;&nbsp;&nbsp; 3.500% due 3/1/42 | 138407  |
| 140000 | &nbsp;&nbsp;&nbsp; 5.750% due 4/1/48 | 121854  |
| 165000 | &nbsp;&nbsp;&nbsp; 5.125% due 7/1/49 | 130956  |
| 265000 | &nbsp;&nbsp;&nbsp; 4.800% due 3/1/50 | 201893  |
| 80000 | &nbsp;&nbsp;&nbsp; 4.400% due 12/1/61 | 53500  |
| 75000 | Cipher Compute LLC, Senior Secured Notes, 7.125% due 11/15/30<sup>(c)</sup> | 78176  |
| 35000 | Clear Channel Outdoor Holdings Inc., Company Guaranteed Notes, 7.500% due 6/1/29<sup>(c)</sup> | 35249  |
| 65000 | Clear Channel Outdoor Holdings Inc., Senior Secured Notes, 7.125% due 2/15/31<sup>(c)</sup> | 68706  |
|  | Comcast Corp., Company Guaranteed Notes:<br>|  |
| 560000 | &nbsp;&nbsp;&nbsp; 3.750% due 4/1/40 | 472409  |
| 35000 | &nbsp;&nbsp;&nbsp; 3.400% due 7/15/46 | 24976  |
| 45000 | &nbsp;&nbsp;&nbsp; 3.969% due 11/1/47 | 34670  |
| 18000 | &nbsp;&nbsp;&nbsp; 3.999% due 11/1/49 | 13608  |
| 50000 | &nbsp;&nbsp;&nbsp; 2.800% due 1/15/51 | 29886  |
| 347000 | &nbsp;&nbsp;&nbsp; 2.887% due 11/1/51 | 209463  |
| 270000 | Cox Communications Inc., Company Guaranteed Notes, 5.950% due 9/1/54<sup>(c)</sup> | 242080  |
| 95000 | Cox Communications Inc., Senior Unsecured Notes, 2.600% due 6/15/31<sup>(c)</sup> | 85697  |
| 109449 | Digicel Group Holdings Ltd., Senior Secured Notes, zero coupon, due 12/31/30<sup>(c)</sup> | 1904  |
| 90000 | Directv Financing LLC, Senior Secured Notes, 8.875% due 2/1/30<sup>(c)</sup> | 90031  |
| 39000 | Directv Financing LLC/Directv Financing Co.-Obligor Inc., Senior Secured Notes, 5.875% due 8/15/27<sup>(c)</sup> | 39045  |
| 60000 | DISH DBS Corp., Company Guaranteed Notes, 5.125% due 6/1/29 | 53582  |
| 95000 | DISH DBS Corp., Senior Secured Notes, 5.750% due 12/1/28<sup>(c)</sup> | 91942  |
| 85000 | EchoStar Corp., Senior Secured Notes, 10.750% due 11/30/29 | 92815  |
| 20000 | Embarq LLC, Senior Unsecured Notes, 7.995% due 6/1/36 | 7650  |
| 313000 | Expedia Group Inc., Company Guaranteed Notes, 3.800% due 2/15/28 | 311387  |
| 50000 | Flash Compute LLC, Senior Secured Notes, 7.250% due 12/31/30<sup>(c)</sup> | 51181  |
| 2910000 | Frontier Communications Holdings LLC, Senior Secured Notes, 5.000% due 5/1/28<sup>(c)</sup> | 2911676  |

---

See Notes to Financial Statements.

158<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Communications – (continued)**  | **Communications – (continued)**  | **Communications – (continued)**  |
| $50000 | Getty Images Inc., Senior Secured Notes, 10.500% due 11/15/30<sup>(c)</sup> | $44258  |
| 45000 | Gray Media Inc., Secured Notes, 9.625% due 7/15/32<sup>(c)</sup> | 46754  |
| 45000 | Gray Media Inc., Senior Secured Notes, 7.250% due 8/15/33<sup>(c)</sup> | 46467  |
| 20000 | iHeartCommunications Inc., Senior Secured Notes, 9.125% due 5/1/29<sup>(c)</sup> | 17769  |
| 200000 | ION Platform Finance US Inc./ION Platform Finance SARL, Senior Secured Notes, 5.000% due 5/1/28<sup>(c)</sup> | 185263  |
| 90000 | Lamar Media Corp., Company Guaranteed Notes, 5.375% due 11/1/33<sup>(c)</sup> | 90235  |
| 40000 | Level 3 Financing Inc., Company Guaranteed Notes, 3.750% due 7/15/29<sup>(c)</sup> | 37078  |
| 90000 | Level 3 Financing Inc., Senior Secured Notes, 6.875% due 6/30/33<sup>(c)</sup> | 93211  |
| 150000 | Match Group Holdings II LLC, Senior Unsecured Notes, 5.000% due 12/15/27<sup>(c)</sup> | 149968  |
|  | Meta Platforms Inc., Senior Unsecured Notes:<br>|  |
| 365000 | &nbsp;&nbsp;&nbsp; 5.500% due 11/15/45 | 360606  |
| 145000 | &nbsp;&nbsp;&nbsp; 5.600% due 5/15/53 | 141175  |
| 45000 | &nbsp;&nbsp;&nbsp; 5.625% due 11/15/55 | 44047  |
| 455000 | &nbsp;&nbsp;&nbsp; 5.550% due 8/15/64 | 428695  |
| 565000 | &nbsp;&nbsp;&nbsp; 5.750% due 11/15/65 | 550419  |
| 180000 | Millicom International Cellular SA, Senior Unsecured Notes, 6.250% due 3/25/29 | 181093  |
| 119000 | Motorola Solutions Inc., Senior Unsecured Notes, 5.200% due 8/15/32 | 124242  |
| 65000 | Neptune Bidco US Inc., Senior Secured Notes, 10.375% due 5/15/31<sup>(c)</sup> | 65605  |
| 600000 | NTT Finance Corp., Senior Unsecured Notes, 5.171% due 7/16/32<sup>(c)</sup> | 620306  |
| 450000 | Orange SA, Senior Unsecured Notes, 4.250% due 1/13/31<sup>(c)</sup> | 450733  |
| 55000 | Outfront Media Capital LLC/Outfront Media Capital Corp., Senior Secured Notes, 7.375% due 2/15/31<sup>(c)</sup> | 57821  |
|  | Paramount Global, Company Guaranteed Notes:<br>|  |
| 175000 | &nbsp;&nbsp;&nbsp; 4.950% due 1/15/31 | 163312  |
| 465000 | &nbsp;&nbsp;&nbsp; 4.375% due 3/15/43 | 293279  |
| 521000 | &nbsp;&nbsp;&nbsp; 5.850% due 9/1/43 | 385930  |
| 335000 | &nbsp;&nbsp;&nbsp; 4.950% due 5/19/50 | 211706  |
| 20000 | Radiate Holdco LLC/Radiate Finance Inc., Senior Secured Notes, 4.500% due 9/15/26<sup>(c)</sup> | 19700  |
| 125000 | Sirius XM Radio LLC, Company Guaranteed Notes, 5.500% due 7/1/29<sup>(c)</sup> | 125126  |
| 75000 | SV RNO Property Owner 1 LLC, Senior Secured Notes, 5.875% due 3/1/31<sup>(c)</sup> | 75336  |
| 142000 | TELUS Corp., Junior Subordinated Notes, 7.000% (5-Year CMT Index + 2.709%) due 10/15/55<sup>(d)</sup> | 149846  |
|  | T-Mobile USA Inc., Company Guaranteed Notes:<br>|  |
| 295000 | &nbsp;&nbsp;&nbsp; 3.875% due 4/15/30 | 292732  |
| 580000 | &nbsp;&nbsp;&nbsp; 2.550% due 2/15/31 | 536899  |
| 4701000 | &nbsp;&nbsp;&nbsp; 2.875% due 2/15/31 | 4414045  |
| 150000 | &nbsp;&nbsp;&nbsp; 4.700% due 1/15/35 | 149184  |
| 358000 | &nbsp;&nbsp;&nbsp; 5.500% due 1/15/55 | 341440  |

---

See Notes to Financial Statements.

159<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Communications – (continued)**  | **Communications – (continued)**  | **Communications – (continued)**  |
|  | Uber Technologies Inc., Senior Unsecured Notes:<br>|  |
| $277000 | &nbsp;&nbsp;&nbsp; 4.800% due 9/15/34 | $277803  |
| 300000 | &nbsp;&nbsp;&nbsp; 4.800% due 9/15/35 | 298629  |
| 55000 | Uniti Group LP/Uniti Group Finance 2019 Inc./CSL Capital LLC, Company Guaranteed Notes, 8.625% due 6/15/32<sup>(c)</sup> | 55781  |
| 60000 | Uniti Services LLC, Senior Secured Notes, 7.500% due 10/15/33<sup>(c)</sup> | 62426  |
| 90000 | Univision Communications Inc., Senior Secured Notes, 8.500% due 7/31/31<sup>(c)</sup> | 92107  |
| 176000 | VeriSign Inc., Senior Unsecured Notes, 5.250% due 6/1/32 | 180144  |
|  | Verizon Communications Inc., Senior Unsecured Notes:<br>|  |
| 3956000 | &nbsp;&nbsp;&nbsp; 1.750% due 1/20/31 | 3537559  |
| 178000 | &nbsp;&nbsp;&nbsp; 5.750% due 11/30/45 | 179936  |
| 141000 | Videotron Ltd., Company Guaranteed Notes, 5.700% due 1/15/35<sup>(c)</sup> | 145760  |
|  | Wayfair LLC, Senior Secured Notes:<br>|  |
| 50000 | &nbsp;&nbsp;&nbsp; 7.250% due 10/31/29<sup>(c)</sup> | 51672  |
| 60000 | &nbsp;&nbsp;&nbsp; 6.750% due 11/15/32<sup>(c)</sup> | 61152  |
| 65000 | Windstream Services LLC/Windstream Escrow Finance Corp., Senior Secured Notes, 8.250% due 10/1/31<sup>(c)</sup> | 68434  |
| 40000 | WULF Compute LLC, Senior Secured Notes, 7.750% due 10/15/30<sup>(c)</sup> | 42361  |
|  | Total Communications | 35107332  |
| **Consumer Cyclical – 0.4%**  | **Consumer Cyclical – 0.4%**  | **Consumer Cyclical – 0.4%**  |
| 90000 | Academy Ltd., Senior Secured Notes, 6.000% due 11/15/27<sup>(c)</sup> | 90342  |
| 95000 | Acushnet Co., Company Guaranteed Notes, 5.625% due 12/1/33<sup>(c)</sup> | 96688  |
| 25000 | Advance Auto Parts Inc., Company Guaranteed Notes, 7.375% due 8/1/33<sup>(c)</sup> | 25620  |
|  | American Axle & Manufacturing Inc., Company Guaranteed Notes:<br>|  |
| 60000 | &nbsp;&nbsp;&nbsp; 5.000% due 10/1/29 | 58617  |
| 35000 | &nbsp;&nbsp;&nbsp; 7.750% due 10/15/33<sup>(c)</sup> | 35572  |
| 40000 | American Axle & Manufacturing Inc., Senior Secured Notes, 6.375% due 10/15/32<sup>(c)</sup> | 40709  |
| 60000 | Ashton Woods USA LLC/Ashton Woods Finance Co., Senior Unsecured Notes, 4.625% due 4/1/30<sup>(c)</sup> | 57313  |
| 141000 | AutoZone Inc., Senior Unsecured Notes, 5.125% due 6/15/30 | 146143  |
| 45000 | Caesars Entertainment Inc., Company Guaranteed Notes, 6.000% due 10/15/32<sup>(c)</sup> | 43988  |
|  | Carnival Corp., Company Guaranteed Notes:<br>|  |
| 49000 | &nbsp;&nbsp;&nbsp; 5.125% due 5/1/29<sup>(c)</sup> | 49703  |
| 45000 | &nbsp;&nbsp;&nbsp; 5.750% due 8/1/32<sup>(c)</sup> | 46701  |
| 50000 | &nbsp;&nbsp;&nbsp; 6.125% due 2/15/33<sup>(c)</sup> | 51763  |
| 100000 | Clarios Global LP/Clarios US Finance Co., Company Guaranteed Notes, 6.750% due 9/15/32<sup>(c)</sup> | 103802  |
|  | Clarios Global LP/Clarios US Finance Co., Senior Secured Notes:<br>|  |
| 140000 | &nbsp;&nbsp;&nbsp; 6.750% due 5/15/28<sup>(c)</sup> | 143200  |
| 90000 | &nbsp;&nbsp;&nbsp; 6.750% due 2/15/30<sup>(c)</sup> | 94271  |
| 50000 | Cougar JV Subsidiary LLC, Senior Unsecured Notes, 8.000% due 5/15/32<sup>(c)</sup> | 53252  |

---

See Notes to Financial Statements.

160<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Consumer Cyclical – (continued)**  | **Consumer Cyclical – (continued)**  | **Consumer Cyclical – (continued)**  |
| $90000 | Dealer Tire LLC/DT Issuer LLC, Senior Unsecured Notes, 8.000% due 2/1/28<sup>(c)</sup> | $89101  |
|  | Discovery Global Holdings Inc., Company Guaranteed Notes:<br>|  |
| 75000 | &nbsp;&nbsp;&nbsp; 4.054% due 3/15/29 | 74203  |
| 35000 | &nbsp;&nbsp;&nbsp; 4.279% due 3/15/32 | 32156  |
| 55000 | &nbsp;&nbsp;&nbsp; 5.050% due 3/15/42 | 38638  |
| 45000 | Dornoch Debt Merger Sub Inc., Senior Unsecured Notes, 6.625% due 10/15/29<sup>(c)</sup> | 40652  |
| 40000 | Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc., Company Guaranteed Notes, 6.750% due 1/15/30<sup>(c)</sup> | 37725  |
| 40000 | Full House Resorts Inc., Senior Secured Notes, 8.250% due 2/15/28<sup>(c)</sup> | 34700  |
| 70000 | Gates Corp., Company Guaranteed Notes, 6.875% due 7/1/29<sup>(c)</sup> | 72628  |
| 150000 | General Motors Financial Co., Inc., Senior Unsecured Notes, 4.600% due 1/8/31 | 151374  |
| 55000 | Goodyear Tire & Rubber Co., Company Guaranteed Notes, 5.250% due 7/15/31 | 52476  |
| 70000 | Group 1 Automotive Inc., Company Guaranteed Notes, 6.375% due 1/15/30<sup>(c)</sup> | 71756  |
| 236000 | Hyundai Capital America, Senior Unsecured Notes, 5.300% due 1/8/29<sup>(c)</sup> | 243534  |
| 200000 | InRetail Consumer, Senior Secured Notes, 3.250% due 3/22/28 | 195088  |
| 20000 | Installed Building Products Inc., Company Guaranteed Notes, 5.625% due 2/1/34<sup>(c)</sup> | 20265  |
| 30000 | JetBlue Airways Corp./JetBlue Loyalty LP, Senior Secured Notes, 9.875% due 9/20/31<sup>(c)</sup> | 30487  |
| 40000 | K Hovnanian Enterprises Inc., Company Guaranteed Notes, 8.000% due 4/1/31<sup>(c)</sup> | 41139  |
| 20000 | LBM Acquisition LLC, Company Guaranteed Notes, 6.250% due 1/15/29<sup>(c)</sup> | 15248  |
| 30000 | LBM Acquisition LLC, Senior Secured Notes, 9.500% due 6/15/31<sup>(c)</sup> | 27981  |
| 105000 | Life Time Inc., Senior Secured Notes, 6.000% due 11/15/31<sup>(c)</sup> | 108151  |
|  | Light & Wonder International Inc., Company Guaranteed Notes:<br>|  |
| 65000 | &nbsp;&nbsp;&nbsp; 7.250% due 11/15/29<sup>(c)</sup> | 66626  |
| 50000 | &nbsp;&nbsp;&nbsp; 6.250% due 10/1/33<sup>(c)</sup> | 50216  |
| 60000 | Lindblad Expeditions LLC, Senior Secured Notes, 7.000% due 9/15/30<sup>(c)</sup> | 62942  |
| 72000 | Lowe's Cos., Inc., Senior Unsecured Notes, 5.625% due 4/15/53 | 70916  |
|  | Marriott International Inc., Senior Unsecured Notes:<br>|  |
| 146000 | &nbsp;&nbsp;&nbsp; 4.500% due 10/15/31 | 147527  |
| 142000 | &nbsp;&nbsp;&nbsp; 5.350% due 3/15/35 | 147514  |
| 80000 | Mattamy Group Corp., Senior Unsecured Notes, 4.625% due 3/1/30<sup>(c)</sup> | 78102  |
| 59000 | Mattel Inc., Senior Unsecured Notes, 5.000% due 11/17/30 | 59906  |
| 139000 | McDonald's Corp., Senior Unsecured Notes, 5.450% due 8/14/53 | 137096  |
|  | Michaels Cos., Inc., Senior Secured Notes:<br>|  |
| 45000 | &nbsp;&nbsp;&nbsp; 5.250% due 5/1/28<sup>(c)</sup> | 44980  |
| 35000 | &nbsp;&nbsp;&nbsp; 8.500% due 3/15/33<sup>(c)</sup> | 34045  |

---

See Notes to Financial Statements.

161<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Consumer Cyclical – (continued)**  | **Consumer Cyclical – (continued)**  | **Consumer Cyclical – (continued)**  |
| $100000 | Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp., Senior Secured Notes, 4.875% due 5/1/29<sup>(c)</sup> | $98247  |
|  | NCL Corp., Ltd, Senior Unsecured Notes:<br>|  |
| 30000 | &nbsp;&nbsp;&nbsp; 5.875% due 1/15/31<sup>(c)</sup> | 30316  |
| 30000 | &nbsp;&nbsp;&nbsp; 6.250% due 9/15/33<sup>(c)</sup> | 30280  |
| 55000 | Newell Brands Inc., Senior Unsecured Notes, 6.375% due 5/15/30 | 55169  |
| 45000 | Nissan Motor Acceptance Co. LLC, Senior Unsecured Notes, 5.625% due 9/29/28<sup>(c)</sup> | 45290  |
| 130000 | Ontario Gaming GTA LP/OTG Co.-Issuer Inc., Senior Secured Notes, 8.000% due 8/1/30<sup>(c)</sup> | 125659  |
|  | O'Reilly Automotive Inc., Senior Unsecured Notes:<br>|  |
| 64000 | &nbsp;&nbsp;&nbsp; 5.750% due 11/20/26 | 64752  |
| 152000 | &nbsp;&nbsp;&nbsp; 5.000% due 8/19/34 | 154544  |
| 40000 | Qnity Electronics Inc., Company Guaranteed Notes, 6.250% due 8/15/33<sup>(c)</sup> | 41532  |
| 35000 | QXO Building Products Inc., Senior Secured Notes, 6.750% due 4/30/32<sup>(c)</sup> | 36250  |
| 50000 | Rivers Enterprise Borrower LLC, Senior Secured Notes, 6.250% due 10/15/30<sup>(c)</sup> | 51089  |
| 145000 | Rivers Enterprise Borrower LLC/Rivers Enterprise Finance Corp., Senior Secured Notes, 6.625% due 2/1/33<sup>(c)</sup> | 148807  |
|  | Royal Caribbean Cruises Ltd., Senior Unsecured Notes:<br>|  |
| 72000 | &nbsp;&nbsp;&nbsp; 5.375% due 7/15/27<sup>(c)</sup> | 72549  |
| 62000 | &nbsp;&nbsp;&nbsp; 5.375% due 1/15/36 | 63325  |
|  | Sabre GLBL Inc., Senior Secured Notes:<br>|  |
| 17000 | &nbsp;&nbsp;&nbsp; 10.750% due 11/15/29<sup>(c)</sup> | 12400  |
| 23000 | &nbsp;&nbsp;&nbsp; 10.750% due 3/15/30<sup>(c)</sup> | 16675  |
| 60000 | Staples Inc., Senior Secured Notes, 10.750% due 9/1/29<sup>(c)</sup> | 55054  |
| 20000 | Starz Capital Holdings LLC, Company Guaranteed Notes, 5.500% due 4/15/29<sup>(c)</sup> | 15800  |
| 55000 | Station Casinos LLC, Company Guaranteed Notes, 6.625% due 3/15/32<sup>(c)</sup> | 56305  |
| 65000 | Suburban Propane Partners LP/Suburban Energy Finance Corp., Senior Unsecured Notes, 5.000% due 6/1/31<sup>(c)</sup> | 62599  |
| 20000 | SWF Holdings I Corp., Senior Unsecured Notes, 6.500% due 10/1/29<sup>(c)</sup> | 4700  |
|  | Tapestry Inc., Senior Unsecured Notes:<br>|  |
| 150000 | &nbsp;&nbsp;&nbsp; 5.100% due 3/11/30 | 154874  |
| 110000 | &nbsp;&nbsp;&nbsp; 5.500% due 3/11/35 | 114099  |
| 100000 | Taylor Morrison Communities Inc., Company Guaranteed Notes, 5.750% due 11/15/32<sup>(c)</sup> | 103329  |
|  | United Airlines Holdings Inc., Company Guaranteed Notes:<br>|  |
| 58000 | &nbsp;&nbsp;&nbsp; 4.875% due 3/1/29 | 58418  |
| 242000 | &nbsp;&nbsp;&nbsp; 5.375% due 3/1/31 | 246733  |
| 149000 | United Airlines Inc., Senior Secured Notes, 4.625% due 4/15/29<sup>(c)</sup> | 148888  |
| 45000 | Vail Resorts Inc., Company Guaranteed Notes, 6.500% due 5/15/32<sup>(c)</sup> | 46606  |
| 125000 | Victra Holdings LLC/Victra Finance Corp., Senior Secured Notes, 8.750% due 9/15/29<sup>(c)</sup> | 131362  |

---

See Notes to Financial Statements.

162<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Consumer Cyclical – (continued)**  | **Consumer Cyclical – (continued)**  | **Consumer Cyclical – (continued)**  |
| $180000 | Viking Cruises Ltd., Senior Unsecured Notes, 5.875% due 10/15/33<sup>(c)</sup> | $183629  |
| 50000 | Voyager Parent LLC, Senior Secured Notes, 9.250% due 7/1/32<sup>(c)</sup> | 53391  |
| 45000 | Whirlpool Corp., Senior Unsecured Notes, 6.500% due 6/15/33<sup>(g)</sup> | 44908  |
| 155000 | Wyndham Hotels & Resorts Inc., Company Guaranteed Notes, 4.375% due 8/15/28<sup>(c)</sup> | 153905  |
|  | Total Consumer Cyclical | 6096340  |
| **Consumer Non-cyclical – 1.5%**  | **Consumer Non-cyclical – 1.5%**  | **Consumer Non-cyclical – 1.5%**  |
| 200000 | 1261229 BC Ltd., Senior Secured Notes, 10.000% due 4/15/32<sup>(c)</sup> | 206827  |
|  | AbbVie Inc., Senior Unsecured Notes:<br>|  |
| 335000 | &nbsp;&nbsp;&nbsp; 4.125% due 3/15/31 | 336065  |
| 145000 | &nbsp;&nbsp;&nbsp; 5.500% due 3/15/64 | 142649  |
| 229500 | Adani International Container Terminal Pvt Ltd., Senior Secured Notes, 3.000% due 2/16/31<sup>(c)</sup> | 214649  |
| 200000 | Adani Ports & Special Economic Zone Ltd., Senior Unsecured Notes, 3.100% due 2/2/31 | 182208  |
| 35000 | AdaptHealth LLC, Company Guaranteed Notes, 5.125% due 3/1/30<sup>(c)</sup> | 33725  |
| 140000 | Allied Universal Holdco LLC, Senior Secured Notes, 7.875% due 2/15/31<sup>(c)</sup> | 147911  |
| 208000 | Amgen Inc., Senior Unsecured Notes, 5.750% due 3/2/63 | 206170  |
| 490000 | Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide Inc., Company Guaranteed Notes, 4.900% due 2/1/46 | 460892  |
| 179000 | Bacardi Ltd./Bacardi-Martini BV, Senior Unsecured Notes, 5.400% due 6/15/33<sup>(c)</sup> | 182101  |
|  | BAT Capital Corp., Company Guaranteed Notes:<br>|  |
| 160000 | &nbsp;&nbsp;&nbsp; 5.834% due 2/20/31 | 171121  |
| 144000 | &nbsp;&nbsp;&nbsp; 5.625% due 8/15/35 | 151859  |
| 165000 | &nbsp;&nbsp;&nbsp; 4.540% due 8/15/47 | 139267  |
| 170000 | Bausch + Lomb Corp., Senior Secured Notes, 8.375% due 10/1/28<sup>(c)</sup> | 176162  |
| 20000 | Bausch Health Americas Inc., Company Guaranteed Notes, 8.500% due 1/31/27<sup>(c)</sup> | 19820  |
| 35000 | Bausch Health Cos., Inc., Company Guaranteed Notes, 5.250% due 1/30/30<sup>(c)(g)</sup> | 24500  |
| 284000 | Biogen Inc., Senior Unsecured Notes, 5.050% due 1/15/31 | 294764  |
| 311000 | Block Financial LLC, Company Guaranteed Notes, 5.375% due 9/15/32 | 305736  |
| 166000 | Bunge Ltd. Finance Corp., Company Guaranteed Notes, 4.650% due 9/17/34 | 165319  |
| 66000 | Campbell's Co., Senior Unsecured Notes, 5.400% due 3/21/34 | 67450  |
|  | Cardinal Health Inc., Senior Unsecured Notes:<br>|  |
| 390000 | &nbsp;&nbsp;&nbsp; 5.000% due 11/15/29 | 402048  |
| 530000 | &nbsp;&nbsp;&nbsp; 4.500% due 9/15/30 | 537667  |
| 308000 | &nbsp;&nbsp;&nbsp; 4.900% due 9/15/45 | 282542  |
| 130000 | Cencora Inc., Senior Unsecured Notes, 4.250% due 11/15/30 | 130493  |
| 300000 | Cencosud SA, Company Guaranteed Notes, 4.375% due 7/17/27 | 300382  |
|  | Centene Corp., Senior Unsecured Notes:<br>|  |
| 145000 | &nbsp;&nbsp;&nbsp; 2.500% due 3/1/31 | 125843  |
| 280000 | &nbsp;&nbsp;&nbsp; 2.625% due 8/1/31 | 242557  |

---

See Notes to Financial Statements.

163<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Consumer Non-cyclical – (continued)**  | **Consumer Non-cyclical – (continued)**  | **Consumer Non-cyclical – (continued)**  |
| $35000 | CHS/Community Health Systems Inc., Secured Notes, 6.875% due 4/15/29<sup>(c)</sup> | $33810  |
|  | CHS/Community Health Systems Inc., Senior Secured Notes:<br>|  |
| 70000 | &nbsp;&nbsp;&nbsp; 6.000% due 1/15/29<sup>(c)</sup> | 69733  |
| 45000 | &nbsp;&nbsp;&nbsp; 4.750% due 2/15/31<sup>(c)</sup> | 41287  |
| 30000 | Cigna Group, Senior Unsecured Notes, 4.875% due 9/15/32 | 30688  |
|  | CVS Health Corp., Senior Unsecured Notes:<br>|  |
| 30000 | &nbsp;&nbsp;&nbsp; 3.750% due 4/1/30 | 29532  |
| 210000 | &nbsp;&nbsp;&nbsp; 1.750% due 8/21/30 | 188772  |
| 220000 | &nbsp;&nbsp;&nbsp; 2.125% due 9/15/31 | 195174  |
| 60000 | Dcli Bidco LLC, 2nd Mortgage Notes, 7.750% due 11/15/29<sup>(c)</sup> | 61539  |
|  | Element Fleet Management Corp., Senior Unsecured Notes:<br>|  |
| 145000 | &nbsp;&nbsp;&nbsp; 5.037% due 3/25/30<sup>(c)</sup> | 148635  |
| 425000 | &nbsp;&nbsp;&nbsp; 4.641% due 11/24/30<sup>(c)</sup> | 429194  |
| 271000 | Elevance Health Inc., Senior Unsecured Notes, 5.125% due 2/15/53 | 246672  |
| 149020 | Fideicomiso PA Pacifico Tres, Senior Secured Notes, 8.250% due 1/15/35 | 155651  |
| 80000 | Garda World Security Corp., Senior Secured Notes, 6.500% due 1/15/31<sup>(c)</sup> | 82189  |
| 90000 | Garda World Security Corp., Senior Unsecured Notes, 8.250% due 8/1/32<sup>(c)</sup> | 91992  |
|  | GE HealthCare Technologies Inc., Senior Unsecured Notes:<br>|  |
| 143000 | &nbsp;&nbsp;&nbsp; 4.800% due 1/15/31 | 146543  |
| 95000 | &nbsp;&nbsp;&nbsp; 5.500% due 6/15/35 | 99491  |
| 72000 | Global Payments Inc., Senior Unsecured Notes, 5.550% due 11/15/35 | 71619  |
| 145000 | Graham Holdings Co., Company Guaranteed Notes, 5.625% due 12/1/33<sup>(c)</sup> | 144998  |
|  | Herc Holdings Inc., Company Guaranteed Notes:<br>|  |
| 50000 | &nbsp;&nbsp;&nbsp; 7.000% due 6/15/30<sup>(c)</sup> | 52396  |
| 30000 | &nbsp;&nbsp;&nbsp; 5.750% due 3/15/31<sup>(c)</sup> | 30412  |
| 30000 | &nbsp;&nbsp;&nbsp; 6.000% due 3/15/34<sup>(c)</sup> | 30160  |
|  | Humana Inc., Senior Unsecured Notes:<br>|  |
| 70000 | &nbsp;&nbsp;&nbsp; 5.950% due 3/15/34 | 73418  |
| 125000 | &nbsp;&nbsp;&nbsp; 5.550% due 5/1/35 | 127198  |
|  | Icon Investments Six DAC, Senior Secured Notes:<br>|  |
| 400000 | &nbsp;&nbsp;&nbsp; 5.849% due 5/8/29<sup>(g)</sup> | 409573  |
| 200000 | &nbsp;&nbsp;&nbsp; 6.000% due 5/8/34 | 205231  |
| 119000 | Illumina Inc., Senior Unsecured Notes, 4.750% due 12/12/30 | 120894  |
| 35000 | Industrial F&B Investments III Inc., Senior Secured Notes, 7.750% due 2/11/33<sup>(c)</sup> | 35922  |
| 60000 | IQVIA Inc., Company Guaranteed Notes, 6.250% due 6/1/32<sup>(c)</sup> | 61721  |
|  | JBS NV/JBS USA Foods Group Holdings Inc./JBS USA Food Co. Holdings, Senior Unsecured Notes:<br>|  |
| 185000 | &nbsp;&nbsp;&nbsp; 6.750% due 3/15/34 | 206250  |
| 305000 | &nbsp;&nbsp;&nbsp; 5.500% due 1/15/36 | 312988  |
| 115000 | &nbsp;&nbsp;&nbsp; 7.250% due 11/15/53 | 131490  |
| 200000 | &nbsp;&nbsp;&nbsp; 6.250% due 3/1/56 | 204223  |
| 560000 | &nbsp;&nbsp;&nbsp; 6.375% due 4/15/66 | 570002  |

---

See Notes to Financial Statements.

164<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Consumer Non-cyclical – (continued)**  | **Consumer Non-cyclical – (continued)**  | **Consumer Non-cyclical – (continued)**  |
|  | Kenvue Inc., Senior Unsecured Notes:<br>|  |
| $215000 | &nbsp;&nbsp;&nbsp; 4.850% due 5/22/32 | $222208  |
| 115000 | &nbsp;&nbsp;&nbsp; 5.050% due 3/22/53 | 107247  |
|  | Keurig Dr Pepper Inc., Company Guaranteed Notes:<br>|  |
| 155000 | &nbsp;&nbsp;&nbsp; 3.950% due 4/15/29 | 154129  |
| 12000 | &nbsp;&nbsp;&nbsp; 3.200% due 5/1/30 | 11496  |
| 225000 | &nbsp;&nbsp;&nbsp; 4.600% due 5/15/30 | 227252  |
| 431000 | &nbsp;&nbsp;&nbsp; 2.250% due 3/15/31 | 388916  |
| 123000 | &nbsp;&nbsp;&nbsp; 5.200% due 3/15/31 | 127090  |
| 235000 | &nbsp;&nbsp;&nbsp; 4.050% due 4/15/32 | 228800  |
| 229000 | &nbsp;&nbsp;&nbsp; 5.300% due 3/15/34 | 235623  |
| 60000 | &nbsp;&nbsp;&nbsp; 5.150% due 5/15/35 | 60796  |
| 145000 | Kroger Co., Senior Unsecured Notes, 5.650% due 9/15/64 | 140154  |
| 289000 | Laboratory Corp. of America Holdings, Company Guaranteed Notes, 4.800% due 10/1/34 | 289877  |
| 45000 | LifePoint Health Inc., Senior Unsecured Notes, 10.000% due 6/1/32<sup>(c)</sup> | 46935  |
|  | Mars Inc., Senior Unsecured Notes:<br>|  |
| 130000 | &nbsp;&nbsp;&nbsp; 4.600% due 3/1/28<sup>(c)</sup> | 131886  |
| 115000 | &nbsp;&nbsp;&nbsp; 5.000% due 3/1/32<sup>(c)</sup> | 119124  |
| 2700000 | &nbsp;&nbsp;&nbsp; 5.200% due 3/1/35<sup>(c)</sup> | 2795749  |
| 815000 | &nbsp;&nbsp;&nbsp; 5.650% due 5/1/45<sup>(c)</sup> | 834058  |
| 145000 | &nbsp;&nbsp;&nbsp; 5.700% due 5/1/55<sup>(c)</sup> | 147038  |
| 45000 | &nbsp;&nbsp;&nbsp; 5.800% due 5/1/65<sup>(c)</sup> | 46090  |
| 35000 | Mavis Tire Express Services Topco Corp., Senior Unsecured Notes, 6.500% due 5/15/29<sup>(c)</sup> | 34967  |
|  | McGraw-Hill Education Inc., Senior Secured Notes:<br>|  |
| 60000 | &nbsp;&nbsp;&nbsp; 5.750% due 8/1/28<sup>(c)</sup> | 59905  |
| 50000 | &nbsp;&nbsp;&nbsp; 7.375% due 9/1/31<sup>(c)</sup> | 51092  |
| 254000 | Medline Borrower LP, Company Guaranteed Notes, 5.250% due 10/1/29<sup>(c)</sup> | 253980  |
| 179000 | Merck & Co., Inc., Company Guaranteed Notes, 5.700% due 9/15/55 | 183063  |
| 100000 | Merck & Co., Inc., Senior Unsecured Notes, 5.700% due 12/4/65 | 100393  |
| 35000 | Performance Food Group Inc., Company Guaranteed Notes, 5.625% due 3/1/34<sup>(c)</sup> | 35117  |
|  | Philip Morris International Inc., Senior Unsecured Notes:<br>|  |
| 425000 | &nbsp;&nbsp;&nbsp; 4.375% due 11/1/27 | 429225  |
| 220000 | &nbsp;&nbsp;&nbsp; 5.125% due 2/15/30 | 228577  |
| 275000 | &nbsp;&nbsp;&nbsp; 5.125% due 2/13/31 | 286884  |
| 180000 | &nbsp;&nbsp;&nbsp; 4.750% due 11/1/31 | 185118  |
| 495000 | &nbsp;&nbsp;&nbsp; 5.375% due 2/15/33 | 522671  |
| 131000 | &nbsp;&nbsp;&nbsp; 5.250% due 2/13/34 | 137217  |
| 85000 | Post Holdings Inc., Company Guaranteed Notes, 6.375% due 3/1/33<sup>(c)</sup> | 86520  |
| 85000 | Primo Water Holdings Inc./Triton Water Holdings Inc., Company Guaranteed Notes, 6.250% due 4/1/29<sup>(c)</sup> | 84985  |

---

See Notes to Financial Statements.

165<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Consumer Non-cyclical – (continued)**  | **Consumer Non-cyclical – (continued)**  | **Consumer Non-cyclical – (continued)**  |
| $196116 | Prumo Participacoes e Investimentos S/A, Senior Secured Notes, 7.500% due 12/31/31 | $199994  |
| 214000 | Quanta Services Inc., Senior Unsecured Notes, 5.250% due 8/9/34 | 221734  |
| 135000 | Quest Diagnostics Inc., Senior Unsecured Notes, 5.000% due 12/15/34 | 138285  |
| 31664 | Radiology Partners Inc., Secured Notes, 9.781% due 2/15/30<sup>(c)(h)</sup> | 29606  |
| 75000 | Radiology Partners Inc., Senior Secured Notes, 8.500% due 7/15/32<sup>(c)</sup> | 77226  |
| 146000 | Rollins Inc., Company Guaranteed Notes, 5.250% due 2/24/35 | 150075  |
|  | Royalty Pharma PLC, Company Guaranteed Notes:<br>|  |
| 290000 | &nbsp;&nbsp;&nbsp; 5.200% due 9/25/35 | 294712  |
| 88000 | &nbsp;&nbsp;&nbsp; 5.950% due 9/25/55 | 89076  |
| 293333 | Rutas 2 & 7 Finance Ltd., Senior Secured Notes, zero coupon, due 9/30/36 | 226808  |
| 50000 | Select Medical Corp., Company Guaranteed Notes, 6.250% due 12/1/32<sup>(c)</sup> | 48776  |
| 51000 | Solventum Corp., Senior Unsecured Notes, 5.400% due 3/1/29 | 52887  |
|  | Tenet Healthcare Corp., Senior Secured Notes:<br>|  |
| 120000 | &nbsp;&nbsp;&nbsp; 6.125% due 6/15/30 | 122393  |
| 15000 | &nbsp;&nbsp;&nbsp; 5.500% due 11/15/32<sup>(c)</sup> | 15186  |
| 15000 | Tenet Healthcare Corp., Senior Unsecured Notes, 6.000% due 11/15/33<sup>(c)</sup> | 15501  |
| 660000 | Thermo Fisher Scientific Inc., Senior Unsecured Notes, 4.473% due 10/7/32 | 667461  |
|  | Triton Container International Ltd./TAL International Container Corp., Company Guaranteed Notes:<br>|  |
| 153000 | &nbsp;&nbsp;&nbsp; 3.250% due 3/15/32 | 141844  |
| 75000 | &nbsp;&nbsp;&nbsp; 5.150% due 2/15/33 | 74991  |
| 227000 | United Natural Foods Inc., Company Guaranteed Notes, 6.750% due 10/15/28<sup>(c)</sup> | 227407  |
| 60000 | United Rentals North America Inc., Company Guaranteed Notes, 5.375% due 11/15/33<sup>(c)</sup> | 60489  |
| 45000 | Upbound Group Inc., Company Guaranteed Notes, 6.375% due 2/15/29<sup>(c)</sup> | 44547  |
| 145000 | US Foods Inc., Company Guaranteed Notes, 5.750% due 4/15/33<sup>(c)</sup> | 147904  |
| 139000 | Verisk Analytics Inc., Senior Unsecured Notes, 5.250% due 6/5/34 | 141568  |
| 50000 | Veritiv Operating Co., Senior Secured Notes, 10.500% due 11/30/30<sup>(c)</sup> | 53498  |
| 275000 | Viatris Inc., Company Guaranteed Notes, 4.000% due 6/22/50 | 188332  |
| 53000 | VSP Optical Group Inc., Company Guaranteed Notes, 5.450% due 12/1/35<sup>(c)</sup> | 53914  |
| 40000 | VT Topco Inc., Senior Secured Notes, 8.500% due 8/15/30<sup>(c)</sup> | 39737  |
| 80000 | Wand NewCo 3 Inc., Senior Secured Notes, 7.625% due 1/30/32<sup>(c)</sup> | 83477  |
|  | Zoetis Inc., Senior Unsecured Notes:<br>|  |
| 145000 | &nbsp;&nbsp;&nbsp; 4.150% due 8/17/28 | 146104  |
| 59000 | &nbsp;&nbsp;&nbsp; 4.700% due 2/1/43 | 54875  |
|  | Total Consumer Non-cyclical | 23292713  |
| **Energy – 2.7%**  | **Energy – 2.7%**  | **Energy – 2.7%**  |
| 164250 | Adani Renewable Energy RJ Ltd./Kodangal Solar Parks Pvt Ltd./Wardha Solar Maharash, Senior Secured Notes, 4.625% due 10/15/39 | 138140  |
| 105000 | Aethon United BR LP/Aethon United Finance Corp., Senior Unsecured Notes, 7.500% due 10/1/29<sup>(c)</sup> | 110459  |

---

See Notes to Financial Statements.

166<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Energy – (continued)**  | **Energy – (continued)**  | **Energy – (continued)**  |
|  | Aker BP ASA, Senior Unsecured Notes:<br>|  |
| $150000 | &nbsp;&nbsp;&nbsp; 4.000% due 1/15/31<sup>(c)</sup> | $146801  |
| 150000 | &nbsp;&nbsp;&nbsp; 5.250% due 10/30/35<sup>(c)</sup> | 149537  |
| 230000 | &nbsp;&nbsp;&nbsp; 5.800% due 10/1/54<sup>(c)</sup> | 216024  |
| 147916 | Al Candelaria - spain- SA, Senior Secured Notes, 7.500% due 12/15/28 | 150135  |
| 54000 | Antero Midstream Partners LP/Antero Midstream Finance Corp., Company Guaranteed Notes, 5.750% due 7/1/34<sup>(c)</sup> | 54844  |
| 74000 | APA Corp., Company Guaranteed Notes, 6.100% due 2/15/35 | 77495  |
| 105000 | Archrock Partners LP/Archrock Partners Finance Corp., Company Guaranteed Notes, 6.625% due 9/1/32<sup>(c)</sup> | 109267  |
|  | BP Capital Markets America Inc., Company Guaranteed Notes:<br>|  |
| 2790000 | &nbsp;&nbsp;&nbsp; 4.812% due 2/13/33 | 2859747  |
| 2690000 | &nbsp;&nbsp;&nbsp; 4.893% due 9/11/33 | 2764936  |
| 200000 | BPRL International Singapore Pte Ltd., Company Guaranteed Notes, 4.375% due 1/18/27 | 200321  |
| 90000 | Buckeye Partners LP, Senior Unsecured Notes, 6.875% due 7/1/29<sup>(c)</sup> | 93377  |
| 265000 | Cenovus Energy Inc., Senior Unsecured Notes, 5.400% due 3/20/36 | 269933  |
|  | Cheniere Energy Inc., Senior Unsecured Notes:<br>|  |
| 246000 | &nbsp;&nbsp;&nbsp; 4.625% due 10/15/28 | 245912  |
| 142000 | &nbsp;&nbsp;&nbsp; 5.650% due 4/15/34 | 149321  |
|  | Chord Energy Corp., Company Guaranteed Notes:<br>|  |
| 35000 | &nbsp;&nbsp;&nbsp; 6.000% due 10/1/30<sup>(c)</sup> | 35753  |
| 60000 | &nbsp;&nbsp;&nbsp; 6.750% due 3/15/33<sup>(c)</sup> | 62316  |
| 125000 | CNX Midstream Partners LP, Company Guaranteed Notes, 4.750% due 4/15/30<sup>(c)</sup> | 121908  |
|  | CNX Resources Corp., Company Guaranteed Notes:<br>|  |
| 70000 | &nbsp;&nbsp;&nbsp; 6.000% due 1/15/29<sup>(c)</sup> | 71095  |
| 50000 | &nbsp;&nbsp;&nbsp; 5.875% due 3/1/34<sup>(c)</sup> | 50091  |
| 87000 | Colonial Enterprises Inc., Company Guaranteed Notes, 5.627% due 11/15/35<sup>(c)</sup> | 89412  |
|  | Columbia Pipelines Holding Co. LLC, Senior Unsecured Notes:<br>|  |
| 120000 | &nbsp;&nbsp;&nbsp; 5.097% due 10/1/31<sup>(c)</sup> | 123450  |
| 280000 | &nbsp;&nbsp;&nbsp; 4.999% due 11/17/32<sup>(c)</sup> | 285644  |
|  | ConocoPhillips Co., Company Guaranteed Notes:<br>|  |
| 326000 | &nbsp;&nbsp;&nbsp; 3.800% due 3/15/52 | 246398  |
| 245000 | &nbsp;&nbsp;&nbsp; 4.025% due 3/15/62 | 182313  |
| 130000 | &nbsp;&nbsp;&nbsp; 5.700% due 9/15/63 | 129345  |
| 300000 | Cosan Overseas Ltd., Company Guaranteed Notes, 8.250%<sup>(i)</sup> | 295050  |
| 20000 | Crescent Energy Finance LLC, Company Guaranteed Notes, 7.875% due 4/15/32<sup>(c)</sup> | 20375  |
|  | Diamondback Energy Inc., Company Guaranteed Notes:<br>|  |
| 300000 | &nbsp;&nbsp;&nbsp; 5.400% due 4/18/34 | 311965  |
| 65000 | &nbsp;&nbsp;&nbsp; 6.250% due 3/15/53 | 67682  |

---

See Notes to Financial Statements.

167<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Energy – (continued)**  | **Energy – (continued)**  | **Energy – (continued)**  |
| $45000 | &nbsp;&nbsp;&nbsp; 5.750% due 4/18/54 | $43920  |
| 280000 | &nbsp;&nbsp;&nbsp; 5.900% due 4/18/64 | 274689  |
|  | DT Midstream Inc., Company Guaranteed Notes:<br>|  |
| 75000 | &nbsp;&nbsp;&nbsp; 4.125% due 6/15/29<sup>(c)</sup> | 74473  |
| 240000 | &nbsp;&nbsp;&nbsp; 5.800% due 12/15/34<sup>(c)</sup> | 253028  |
| 147000 | Eastern Energy Gas Holdings LLC, Senior Unsecured Notes, 5.650% due 10/15/54 | 145215  |
| 300000 | Ecopetrol SA, Senior Unsecured Notes, 5.875% due 11/2/51 | 216576  |
| 72000 | &nbsp;&nbsp;&nbsp; Energy Transfer LP, Junior Subordinated Notes, 7.125% <br>(5-Year CMT Index + 5.306%)<sup>(d)(i)</sup> | 74689  |
|  | Energy Transfer LP, Senior Unsecured Notes:<br>|  |
| 20000 | &nbsp;&nbsp;&nbsp; 6.400% due 12/1/30 | 21781  |
| 3354000 | &nbsp;&nbsp;&nbsp; 4.900% due 3/15/35 | 3347094  |
| 125000 | &nbsp;&nbsp;&nbsp; 5.350% due 1/15/36 | 127087  |
| 1683000 | &nbsp;&nbsp;&nbsp; 5.950% due 10/1/43 | 1696079  |
| 211000 | &nbsp;&nbsp;&nbsp; 5.000% due 5/15/50 | 180345  |
|  | Enterprise Products Operating LLC, Company Guaranteed Notes:<br>|  |
| 95000 | &nbsp;&nbsp;&nbsp; 4.600% due 1/15/31 | 97129  |
| 185000 | &nbsp;&nbsp;&nbsp; 5.200% due 1/15/36 | 190727  |
| 70000 | &nbsp;&nbsp;&nbsp; 3.300% due 2/15/53 | 47731  |
| 140000 | &nbsp;&nbsp;&nbsp; 5.550% due 2/16/55 | 138549  |
| 180000 | Equinor ASA, Company Guaranteed Notes, 3.700% due 4/6/50 | 139479  |
|  | Expand Energy Corp., Company Guaranteed Notes:<br>|  |
| 55000 | &nbsp;&nbsp;&nbsp; 6.750% due 4/15/29<sup>(c)</sup> | 55160  |
| 72000 | &nbsp;&nbsp;&nbsp; 4.750% due 2/1/32 | 71881  |
| 60000 | Florida Gas Transmission Co. LLC, Senior Unsecured Notes, 5.750% due 7/15/35<sup>(c)</sup> | 63283  |
| 82400 | GNL Quintero SA, Senior Unsecured Notes, 4.634% due 7/31/29 | 82831  |
| 147330 | Guara Norte SARL, Senior Secured Notes, 5.198% due 6/15/34 | 145110  |
| 105000 | Gulfport Energy Operating Corp., Company Guaranteed Notes, 6.750% due 9/1/29<sup>(c)</sup> | 108734  |
| 100000 | Harvest Midstream I LP, Senior Unsecured Notes, 7.500% due 5/15/32<sup>(c)</sup> | 103798  |
| 40000 | Hilcorp Energy I LP/Hilcorp Finance Co., Senior Unsecured Notes, 7.250% due 2/15/35<sup>(c)</sup> | 39617  |
| 65000 | Kinder Morgan Energy Partners LP, Company Guaranteed Notes, 6.950% due 1/15/38 | 74887  |
|  | Kodiak Gas Services LLC, Company Guaranteed Notes:<br>|  |
| 125000 | &nbsp;&nbsp;&nbsp; 7.250% due 2/15/29<sup>(c)</sup> | 129616  |
| 25000 | &nbsp;&nbsp;&nbsp; 6.500% due 10/1/33<sup>(c)</sup> | 25781  |
| 25000 | &nbsp;&nbsp;&nbsp; 6.750% due 10/1/35<sup>(c)</sup> | 26122  |
| 90000 | Matador Resources Co., Company Guaranteed Notes, 6.500% due 4/15/32<sup>(c)</sup> | 91913  |
| 60000 | Matador Resources Co., Senior Unsecured Notes, 6.000% due 4/15/34<sup>(c)</sup> | 59928  |

---

See Notes to Financial Statements.

168<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Energy – (continued)**  | **Energy – (continued)**  | **Energy – (continued)**  |
|  | MPLX LP, Senior Unsecured Notes:<br>|  |
| $345000 | &nbsp;&nbsp;&nbsp; 4.800% due 2/15/31 | $352199  |
| 2980000 | &nbsp;&nbsp;&nbsp; 5.000% due 1/15/33 | 3028446  |
| 390000 | &nbsp;&nbsp;&nbsp; 5.500% due 6/1/34 | 404262  |
| 76000 | &nbsp;&nbsp;&nbsp; 5.300% due 4/1/36 | 76684  |
|  | Nabors Industries Inc., Company Guaranteed Notes:<br>|  |
| 50000 | &nbsp;&nbsp;&nbsp; 9.125% due 1/31/30<sup>(c)</sup> | 52577  |
| 65000 | &nbsp;&nbsp;&nbsp; 7.625% due 11/15/32<sup>(c)</sup> | 66962  |
| 30000 | NGL Energy Operating LLC/NGL Energy Finance Corp., Senior Secured Notes, 8.125% due 2/15/29<sup>(c)</sup> | 31091  |
| 152000 | NGPL PipeCo LLC, Senior Unsecured Notes, 3.250% due 7/15/31<sup>(c)</sup> | 142561  |
| 71000 | Occidental Petroleum Corp., Senior Unsecured Notes, 6.450% due 9/15/36 | 77337  |
|  | ONEOK Inc., Company Guaranteed Notes:<br>|  |
| 110000 | &nbsp;&nbsp;&nbsp; 4.750% due 10/15/31 | 111579  |
| 125000 | &nbsp;&nbsp;&nbsp; 6.050% due 9/1/33 | 134216  |
| 610000 | &nbsp;&nbsp;&nbsp; 5.050% due 11/1/34 | 612224  |
| 190000 | &nbsp;&nbsp;&nbsp; 5.400% due 10/15/35 | 193986  |
| 40000 | &nbsp;&nbsp;&nbsp; 6.625% due 9/1/53 | 42394  |
| 200000 | ONGC Videsh Vankorneft Pte Ltd., Company Guaranteed Notes, 3.750% due 7/27/26 | 199655  |
| 25000 | PBF Holding Co. LLC/PBF Finance Corp., Company Guaranteed Notes, 6.000% due 2/15/28 | 24896  |
| 130000 | Permian Resources Operating LLC, Company Guaranteed Notes, 6.250% due 2/1/33<sup>(c)</sup> | 134613  |
| 150020 | Peru LNG Srl, Senior Unsecured Notes, 5.375% due 3/22/30 | 146091  |
| 100000 | Petrobras Global Finance BV, Company Guaranteed Notes, 5.125% due 9/10/30 | 99550  |
| 225000 | Plains All American Pipeline LP/PAA Finance Corp., Senior Unsecured Notes, 5.600% due 1/15/36 | 230665  |
| 200000 | Raizen Fuels Finance SA, Company Guaranteed Notes, 6.700% due 2/25/37<sup>(g)</sup> | 89750  |
|  | Saudi Arabian Oil Co., Senior Unsecured Notes:<br>|  |
| 285000 | &nbsp;&nbsp;&nbsp; 5.000% due 2/2/36<sup>(c)</sup> | 285385  |
| 400000 | &nbsp;&nbsp;&nbsp; 6.375% due 6/2/55<sup>(c)</sup> | 421545  |
| 200000 | &nbsp;&nbsp;&nbsp; 6.000% due 2/2/56<sup>(c)</sup> | 200702  |
| 65000 | SM Energy Co., Senior Unsecured Notes, 7.000% due 8/1/32<sup>(c)(g)</sup> | 66191  |
| 37000 | Southern Natural Gas Co. LLC, Senior Unsecured Notes, 5.450% due 8/1/35<sup>(c)</sup> | 38427  |
| 55000 | SunCoke Energy Inc., Senior Secured Notes, 4.875% due 6/30/29<sup>(c)</sup> | 50240  |
| 55000 | Sunoco LP/Sunoco Finance Corp., Company Guaranteed Notes, 6.000% due 4/15/27 | 55025  |
| 25000 | Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., Company Guaranteed Notes, 6.750% due 3/15/34<sup>(c)</sup> | 25693  |

---

See Notes to Financial Statements.

169<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Energy – (continued)**  | **Energy – (continued)**  | **Energy – (continued)**  |
| $65000 | Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., Senior Unsecured Notes, 7.375% due 2/15/29<sup>(c)</sup> | $67386  |
|  | Targa Resources Corp., Company Guaranteed Notes:<br>|  |
| 130000 | &nbsp;&nbsp;&nbsp; 4.350% due 4/15/31 | 130010  |
| 320000 | &nbsp;&nbsp;&nbsp; 5.400% due 7/30/36 | 325907  |
| 225000 | Targa Resources Partners LP/Targa Resources Partners Finance Corp., Company Guaranteed Notes, 4.000% due 1/15/32 | 218304  |
| 6275000 | Tennessee Gas Pipeline Co. LLC, Company Guaranteed Notes, 2.900% due 3/1/30<sup>(c)</sup> | 5999341  |
|  | TotalEnergies Capital SA, Company Guaranteed Notes:<br>|  |
| 255000 | &nbsp;&nbsp;&nbsp; 5.638% due 4/5/64 | 252615  |
| 150000 | &nbsp;&nbsp;&nbsp; 5.425% due 9/10/64 | 143319  |
| 135000 | TotalEnergies Capital USA LLC, Company Guaranteed Notes, 4.569% due 1/13/33 | 136684  |
| 20000 | Transocean International Ltd., Senior Secured Notes, 7.875% due 10/15/32<sup>(c)</sup> | 21474  |
| 200000 | Var Energi ASA, Senior Unsecured Notes, 5.875% due 5/22/30<sup>(c)</sup> | 209991  |
| 215000 | Variable Energi ASA, Senior Unsecured Notes, 6.500% due 5/22/35<sup>(c)</sup> | 232044  |
|  | Venture Global LNG Inc., Senior Secured Notes:<br>|  |
| 95000 | &nbsp;&nbsp;&nbsp; 8.125% due 6/1/28<sup>(c)</sup> | 97478  |
| 50000 | &nbsp;&nbsp;&nbsp; 8.375% due 6/1/31<sup>(c)</sup> | 51202  |
| 30000 | &nbsp;&nbsp;&nbsp; 9.875% due 2/1/32<sup>(c)</sup> | 31783  |
|  | Venture Global Plaquemines LNG LLC, Senior Secured Notes:<br>|  |
| 50000 | &nbsp;&nbsp;&nbsp; 6.125% due 12/15/30<sup>(c)</sup> | 51940  |
| 15000 | &nbsp;&nbsp;&nbsp; 7.500% due 5/1/33<sup>(c)</sup> | 16640  |
| 50000 | &nbsp;&nbsp;&nbsp; 6.500% due 1/15/34<sup>(c)</sup> | 52621  |
| 102000 | Viper Energy Partners LLC, Company Guaranteed Notes, 4.900% due 8/1/30 | 104066  |
| 80000 | WBI Operating LLC, Senior Unsecured Notes, 6.500% due 10/15/33<sup>(c)</sup> | 81300  |
| 90000 | Weatherford International Ltd., Company Guaranteed Notes, 6.750% due 10/15/33<sup>(c)</sup> | 94094  |
| 3175000 | Western Midstream Operating LP, Company Guaranteed Notes, 7.250% due 4/1/30<sup>(c)</sup> | 3365430  |
| 106000 | Whistler Pipeline LLC, Senior Unsecured Notes, 5.700% due 9/30/31<sup>(c)</sup> | 111201  |
|  | Williams Cos., Inc., Senior Unsecured Notes:<br>|  |
| 2800000 | &nbsp;&nbsp;&nbsp; 5.650% due 3/15/33 | 2962867  |
| 185000 | &nbsp;&nbsp;&nbsp; 5.150% due 3/15/36 | 187170  |
| 146000 | &nbsp;&nbsp;&nbsp; 5.950% due 3/15/56 | 148218  |
|  | Total Energy | 40464329  |
| **Financial – 6.4%**  | **Financial – 6.4%**  | **Financial – 6.4%**  |
| 75000 | Acrisure LLC/Acrisure Finance Inc., Senior Secured Notes, 6.750% due 7/1/32<sup>(c)</sup> | 73556  |
| 35000 | Acrisure LLC/Acrisure Finance Inc., Senior Unsecured Notes, 6.000% due 8/1/29<sup>(c)</sup> | 32666  |
| 96000 | Agree LP, Company Guaranteed Notes, 5.625% due 6/15/34 | 101321  |

---

See Notes to Financial Statements.

170<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Financial – (continued)**  | **Financial – (continued)**  | **Financial – (continued)**  |
| $65000 | Alliant Holdings Intermediate LLC/Alliant Holdings Co.-Issuer, Senior Secured Notes, 6.500% due 10/1/31<sup>(c)</sup> | $65357  |
| 100000 | Alliant Holdings Intermediate LLC/Alliant Holdings Co.-Issuer, Senior Unsecured Notes, 6.750% due 10/15/27<sup>(c)</sup> | 99971  |
|  | American Express Co., Senior Unsecured Notes:<br>|  |
| 280000 | &nbsp;&nbsp;&nbsp; 5.085% (SOFRRATE + 1.020%) due 1/30/31<sup>(d)</sup> | 289287  |
| 290000 | &nbsp;&nbsp;&nbsp; 5.016% (SOFRRATE + 1.440%) due 4/25/31<sup>(d)</sup> | 299636  |
| 184000 | &nbsp;&nbsp;&nbsp; American Express Co., Subordinated Notes, 5.412% <br>(5-Year CMT Index + 1.150%) due 2/8/41<sup>(d)</sup> | 188022  |
|  | American Tower Corp., Senior Unsecured Notes:<br>|  |
| 1680000 | &nbsp;&nbsp;&nbsp; 3.950% due 3/15/29 | 1674606  |
| 2618000 | &nbsp;&nbsp;&nbsp; 2.100% due 6/15/30 | 2403799  |
| 225000 | &nbsp;&nbsp;&nbsp; 2.300% due 9/15/31 | 202315  |
| 148000 | &nbsp;&nbsp;&nbsp; 4.700% due 12/15/32 | 149703  |
| 51000 | &nbsp;&nbsp;&nbsp; 3.700% due 10/15/49 | 38492  |
| 100000 | AmWINS Group Inc., Senior Unsecured Notes, 4.875% due 6/30/29<sup>(c)</sup> | 97089  |
| 50000 | Anywhere Real Estate Group LLC/Anywhere Co.-Issuer Corp., Secured Notes, 7.000% due 4/15/30<sup>(c)</sup> | 50542  |
| 35000 | Anywhere Real Estate Group LLC/Realogy Co.-Issuer Corp., Company Guaranteed Notes, 5.250% due 4/15/30<sup>(c)</sup> | 33106  |
| 85000 | APH Somerset Investor 2 LLC/APH2 Somerset Investor 2 LLC/APH3 Somerset Inves, Senior Unsecured Notes, 7.875% due 11/1/29<sup>(c)</sup> | 82350  |
|  | Ares Strategic Income Fund, Senior Unsecured Notes:<br>|  |
| 265000 | &nbsp;&nbsp;&nbsp; 5.800% due 9/9/30<sup>(c)</sup> | 263194  |
| 420000 | &nbsp;&nbsp;&nbsp; 5.150% due 1/15/31<sup>(c)</sup> | 406861  |
| 365000 | &nbsp;&nbsp;&nbsp; 5.550% due 4/15/31<sup>(c)</sup> | 358424  |
| 79000 | Arthur J Gallagher & Co., Senior Unsecured Notes, 4.850% due 12/15/29 | 80937  |
|  | Asurion LLC & Asurion Co.-Issuer Inc., Senior Secured Notes:<br>|  |
| 25000 | &nbsp;&nbsp;&nbsp; 8.000% due 12/31/32<sup>(c)</sup> | 26258  |
| 20000 | &nbsp;&nbsp;&nbsp; 8.375% due 2/1/34<sup>(c)</sup> | 19903  |
|  | Athene Global Funding, Secured Notes:<br>|  |
| 435000 | &nbsp;&nbsp;&nbsp; 4.721% due 10/8/29<sup>(c)</sup> | 435231  |
| 84000 | &nbsp;&nbsp;&nbsp; 5.033% due 7/17/30<sup>(c)</sup> | 84479  |
| 92000 | Aviation Capital Group LLC, Senior Unsecured Notes, 5.375% due 7/15/29<sup>(c)</sup> | 95034  |
|  | Avolon Holdings Funding Ltd., Company Guaranteed Notes:<br>|  |
| 238000 | &nbsp;&nbsp;&nbsp; 5.750% due 3/1/29<sup>(c)</sup> | 247600  |
| 44000 | &nbsp;&nbsp;&nbsp; 4.700% due 1/30/31<sup>(c)</sup> | 44154  |
|  | Azorra Finance Ltd., Company Guaranteed Notes:<br>|  |
| 55000 | &nbsp;&nbsp;&nbsp; 7.750% due 4/15/30<sup>(c)</sup> | 57765  |
| 70000 | &nbsp;&nbsp;&nbsp; 7.250% due 1/15/31<sup>(c)</sup> | 73058  |
| 200000 | &nbsp;&nbsp;&nbsp; Banco BBVA Peru SA, Subordinated Notes, 6.200% <br>(5-Year CMT Index + 2.002%) due 6/7/34<sup>(d)</sup> | 208273  |

---

See Notes to Financial Statements.

171<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Financial – (continued)**  | **Financial – (continued)**  | **Financial – (continued)**  |
| $200000 | &nbsp;&nbsp;&nbsp; Banco Davivienda SA, Subordinated Notes, 8.125% <br>(5-Year CMT Index + 4.588%) due 7/2/35<sup>(c)(d)</sup> | $206200  |
| 450000 | &nbsp;&nbsp;&nbsp; Banco de Credito del Peru SA, Subordinated Notes, 3.250% <br>(5-Year CMT Index + 2.450%) due 9/30/31<sup>(d)</sup> | 444785  |
| 200000 | Banco Internacional del Peru SAA Interbank, Subordinated Notes, 6.397% (5-Year CMT Index + 2.067%) due 4/30/35<sup>(d)</sup> | 207610  |
| 150000 | Banco Santander Chile, Senior Unsecured Notes, 4.550% due 11/20/30<sup>(c)</sup> | 151018  |
| 71000 | &nbsp;&nbsp;&nbsp; Bank of America Corp., Junior Subordinated Notes, 6.625% <br>(5-Year CMT Index + 2.684%)<sup>(d)(i)</sup> | 74331  |
|  | Bank of America Corp., Senior Unsecured Notes:<br>|  |
| 100000 | &nbsp;&nbsp;&nbsp; 3.974% (3-Month TSFR + 1.472%) due 2/7/30<sup>(d)</sup> | 99911  |
| 4925000 | &nbsp;&nbsp;&nbsp; 1.922% (SOFRRATE + 1.370%) due 10/24/31<sup>(d)</sup> | 4443914  |
| 2615000 | &nbsp;&nbsp;&nbsp; 2.687% (SOFRRATE + 1.320%) due 4/22/32<sup>(d)</sup> | 2421285  |
| 280000 | &nbsp;&nbsp;&nbsp; 2.972% (SOFRRATE + 1.330%) due 2/4/33<sup>(d)</sup> | 258832  |
| 104000 | &nbsp;&nbsp;&nbsp; 5.468% (SOFRRATE + 1.650%) due 1/23/35<sup>(d)</sup> | 108992  |
| 121000 | Bank of America Corp., Subordinated Notes, 5.744% (SOFRRATE + 1.697%) due 2/12/36<sup>(d)</sup> | 126459  |
| 127000 | &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp., Junior Subordinated Notes, 5.625% <br>(5-Year CMT Index + 2.034%)<sup>(d)(i)</sup> | 126975  |
|  | Bank of New York Mellon Corp., Senior Unsecured Notes:<br>|  |
| 440000 | &nbsp;&nbsp;&nbsp; 4.026% (SOFRRATE + 0.634%) due 1/22/30<sup>(d)</sup> | 440730  |
| 110000 | &nbsp;&nbsp;&nbsp; 5.060% (SOFRRATE + 1.230%) due 7/22/32<sup>(d)</sup> | 114455  |
| 2996000 | &nbsp;&nbsp;&nbsp; Bank of Nova Scotia, Senior Unsecured Notes, 4.813% <br>(SOFRRATE + 1.045%) due 2/2/34<sup>(d)</sup> | 3030535  |
| 5000000 | &nbsp;&nbsp;&nbsp; Barclays PLC, Senior Unsecured Notes, 4.972% <br>(3-Month USD-SOFR + 1.902%) due 5/16/29<sup>(d)</sup> | 5089039  |
| 300000 | BBVA Mexico SA Institucion de Banca Multiple Grupo Financiero BBVA Mexico, Subordinated Notes, 5.125% (5-Year CMT Index + 2.650%) due 1/18/33<sup>(d)</sup> | 298848  |
|  | BPCE SA, Senior Non-Preferred Notes:<br>|  |
| 250000 | &nbsp;&nbsp;&nbsp; 4.625% due 9/12/28<sup>(c)</sup> | 252882  |
| 300000 | &nbsp;&nbsp;&nbsp; 5.876% (SOFRRATE + 1.680%) due 1/14/31<sup>(c)(d)</sup> | 315414  |
| 385000 | &nbsp;&nbsp;&nbsp; 5.389% (SOFRRATE + 1.581%) due 5/28/31<sup>(c)(d)</sup> | 398291  |
| 61000 | Brown & Brown Inc., Senior Unsecured Notes, 6.250% due 6/23/55 | 62297  |
| 495000 | &nbsp;&nbsp;&nbsp; Capital One Financial Corp., Senior Unsecured Notes, 7.624% <br>(SOFRRATE + 3.070%) due 10/30/31<sup>(d)</sup> | 557939  |
| 74000 | &nbsp;&nbsp;&nbsp; Citigroup Inc., Junior Subordinated Notes, 6.875% <br>(5-Year CMT Index + 2.890%)<sup>(d)(i)</sup> | 75874  |
|  | Citigroup Inc., Senior Unsecured Notes:<br>|  |
| 412000 | &nbsp;&nbsp;&nbsp; 4.952% (SOFRRATE + 1.463%) due 5/7/31<sup>(d)</sup> | 422539  |
| 706000 | &nbsp;&nbsp;&nbsp; 4.503% (SOFRRATE + 1.171%) due 9/11/31<sup>(d)</sup> | 711389  |
| 6930000 | &nbsp;&nbsp;&nbsp; 2.520% (SOFRRATE + 1.177%) due 11/3/32<sup>(d)</sup> | 6268990  |
| 68000 | Citigroup Inc., Subordinated Notes, 6.174% (SOFRRATE + 2.661%) due 5/25/34<sup>(d)</sup> | 72592  |

---

See Notes to Financial Statements.

172<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Financial – (continued)**  | **Financial – (continued)**  | **Financial – (continued)**  |
| $565000 | Credit Agricole SA, Senior Non-Preferred Notes, 5.222% (SOFRRATE + 1.460%) due 5/27/31<sup>(c)(d)</sup> | $584209  |
| 200000 | &nbsp;&nbsp;&nbsp; DBS Group Holdings Ltd., Subordinated Notes, 1.822% <br>(5-Year CMT Index + 1.100%) due 3/10/31<sup>(d)</sup> | 199812  |
|  | Equinix Inc., Senior Unsecured Notes:<br>|  |
| 142000 | &nbsp;&nbsp;&nbsp; 3.900% due 4/15/32 | 137527  |
| 250000 | &nbsp;&nbsp;&nbsp; 2.950% due 9/15/51 | 158371  |
| 230000 | Equitable America Global Funding, Secured Notes, 4.700% due 9/15/32<sup>(c)</sup> | 228862  |
| 27000 | Equitable Holdings Inc., Senior Unsecured Notes, 4.350% due 4/20/28 | 27136  |
| 150000 | Essential Properties LP, Company Guaranteed Notes, 5.400% due 12/1/35 | 152885  |
|  | Extra Space Storage LP, Company Guaranteed Notes:<br>|  |
| 72000 | &nbsp;&nbsp;&nbsp; 4.950% due 1/15/33 | 73150  |
| 132000 | &nbsp;&nbsp;&nbsp; 5.400% due 2/1/34 | 136165  |
| 187000 | First Industrial LP, Company Guaranteed Notes, 5.250% due 1/15/31 | 192286  |
| 40000 | Freedom Mortgage Holdings LLC, Senior Unsecured Notes, 8.375% due 4/1/32<sup>(c)</sup> | 40300  |
| 105000 | GGAM Finance Ltd., Company Guaranteed Notes, 6.875% due 4/15/29<sup>(c)</sup> | 108158  |
| 285000 | Global Aircraft Leasing Co., Ltd., Senior Secured Notes, 8.750% due 9/1/27<sup>(c)</sup> | 293764  |
| 126000 | GLP Capital LP/GLP Financing II Inc., Company Guaranteed Notes, 5.625% due 3/1/36 | 125986  |
| 68000 | &nbsp;&nbsp;&nbsp; Goldman Sachs Group Inc., Junior Subordinated Notes, 6.850% <br>(5-Year CMT Index + 2.461%)<sup>(d)(i)</sup> | 71209  |
|  | Goldman Sachs Group Inc., Senior Unsecured Notes:<br>|  |
| 140000 | &nbsp;&nbsp;&nbsp; 5.049% (SOFRRATE + 1.210%) due 7/23/30<sup>(d)</sup> | 143624  |
| 435000 | &nbsp;&nbsp;&nbsp; 4.692% (SOFRRATE + 1.135%) due 10/23/30<sup>(d)</sup> | 442082  |
| 245000 | &nbsp;&nbsp;&nbsp; 5.207% (SOFRRATE + 1.078%) due 1/28/31<sup>(d)</sup> | 253873  |
| 190000 | &nbsp;&nbsp;&nbsp; 5.218% (SOFRRATE + 1.580%) due 4/23/31<sup>(d)</sup> | 196690  |
| 149000 | &nbsp;&nbsp;&nbsp; 4.369% (SOFRRATE + 1.060%) due 10/21/31<sup>(d)</sup> | 149096  |
| 23000 | &nbsp;&nbsp;&nbsp; 4.516% (SOFRRATE + 0.960%) due 1/21/32<sup>(d)</sup> | 23142  |
| 55000 | &nbsp;&nbsp;&nbsp; 2.615% (SOFRRATE + 1.281%) due 4/22/32<sup>(d)</sup> | 50511  |
| 139000 | &nbsp;&nbsp;&nbsp; 5.330% (SOFRRATE + 1.550%) due 7/23/35<sup>(d)</sup> | 143481  |
| 570000 | &nbsp;&nbsp;&nbsp; 5.065% (SOFRRATE + 1.190%) due 1/21/37<sup>(d)</sup> | 574009  |
| 127000 | Guardian Life Global Funding, Secured Notes, 4.798% due 4/28/30<sup>(c)</sup> | 130263  |
| 65000 | Hightower Holding LLC, Company Guaranteed Notes, 6.750% due 4/15/29<sup>(c)</sup> | 64449  |
|  | HSBC Holdings PLC, Senior Unsecured Notes:<br>|  |
| 200000 | &nbsp;&nbsp;&nbsp; 5.240% (SOFRRATE + 1.570%) due 5/13/31<sup>(d)</sup> | 207193  |
| 200000 | &nbsp;&nbsp;&nbsp; 2.848% (SOFRRATE + 2.387%) due 6/4/31<sup>(d)</sup> | 188862  |
| 205000 | &nbsp;&nbsp;&nbsp; 4.619% (SOFRRATE + 1.190%) due 11/6/31<sup>(d)</sup> | 207349  |
| 65000 | HUB International Ltd., Senior Secured Notes, 7.250% due 6/15/30<sup>(c)</sup> | 67045  |
| 178000 | &nbsp;&nbsp;&nbsp; Huntington Bancshares Inc., Subordinated Notes, 2.487% <br>(5-Year CMT Index + 1.170%) due 8/15/36<sup>(d)</sup> | 157240  |

---

See Notes to Financial Statements.

173<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Financial – (continued)**  | **Financial – (continued)**  | **Financial – (continued)**  |
| $415000 | Intercontinental Exchange Inc., Senior Unsecured Notes, 2.650% due 9/15/40 | $309309  |
| 80000 | Iron Mountain Inc., Company Guaranteed Notes, 7.000% due 2/15/29<sup>(c)</sup> | 82106  |
|  | JPMorgan Chase & Co., Senior Unsecured Notes:<br>|  |
| 330000 | &nbsp;&nbsp;&nbsp; 4.505% (SOFRRATE + 0.860%) due 10/22/28<sup>(d)</sup> | 332900  |
| 340000 | &nbsp;&nbsp;&nbsp; 5.299% (SOFRRATE + 1.450%) due 7/24/29<sup>(d)</sup> | 349959  |
| 355000 | &nbsp;&nbsp;&nbsp; 5.581% (SOFRRATE + 1.160%) due 4/22/30<sup>(d)</sup> | 370765  |
| 565000 | &nbsp;&nbsp;&nbsp; 4.995% (SOFRRATE + 1.125%) due 7/22/30<sup>(d)</sup> | 582023  |
| 305000 | &nbsp;&nbsp;&nbsp; 5.140% (SOFRRATE + 1.010%) due 1/24/31<sup>(d)</sup> | 316495  |
| 636000 | &nbsp;&nbsp;&nbsp; 5.103% (SOFRRATE + 1.435%) due 4/22/31<sup>(d)</sup> | 659575  |
| 345000 | &nbsp;&nbsp;&nbsp; 4.255% (SOFRRATE + 0.930%) due 10/22/31<sup>(d)</sup> | 346031  |
| 5000000 | &nbsp;&nbsp;&nbsp; 2.545% (SOFRRATE + 1.180%) due 11/8/32<sup>(d)</sup> | 4553830  |
| 1975000 | &nbsp;&nbsp;&nbsp; 5.336% (SOFRRATE + 1.620%) due 1/23/35<sup>(d)</sup> | 2058383  |
| 257000 | &nbsp;&nbsp;&nbsp; 5.294% (SOFRRATE + 1.460%) due 7/22/35<sup>(d)</sup> | 266876  |
| 75000 | &nbsp;&nbsp;&nbsp; 4.946% (SOFRRATE + 1.340%) due 10/22/35<sup>(d)</sup> | 76165  |
| 292000 | JPMorgan Chase & Co., Subordinated Notes, 5.576% (SOFRRATE + 1.635%) due 7/23/36<sup>(d)</sup> | 303679  |
| 45000 | LFS Topco LLC, Senior Unsecured Notes, 8.750% due 7/15/30<sup>(c)</sup> | 43536  |
| 235000 | Lincoln National Corp., Senior Unsecured Notes, 5.350% due 11/15/35 | 229433  |
| 144000 | Lineage OP LP, Company Guaranteed Notes, 5.250% due 7/15/30 | 146953  |
|  | Macquarie Airfinance Holdings Ltd., Senior Unsecured Notes:<br>|  |
| 73000 | &nbsp;&nbsp;&nbsp; 5.200% due 3/27/28<sup>(c)</sup> | 74222  |
| 74000 | &nbsp;&nbsp;&nbsp; 5.150% due 3/17/30<sup>(c)</sup> | 75611  |
| 148000 | Marsh & McLennan Cos., Inc., Senior Unsecured Notes, 4.950% due 3/15/36 | 149316  |
| 120000 | MetLife Inc., Subordinated Notes, 6.350% (5-Year CMT Index + 2.078%) due 3/15/55<sup>(d)</sup> | 124638  |
| 560000 | Morgan Stanley Private Bank N.A., Senior Unsecured Notes, 4.213% (SOFRRATE + 0.762%) due 2/8/30<sup>(d)</sup> | 562663  |
|  | Morgan Stanley, Senior Unsecured Notes:<br>|  |
| 35000 | &nbsp;&nbsp;&nbsp; 5.449% (SOFRRATE + 1.630%) due 7/20/29<sup>(d)</sup> | 36091  |
| 460000 | &nbsp;&nbsp;&nbsp; 4.238% (SOFRRATE + 0.800%) due 1/9/30<sup>(d)</sup> | 461609  |
| 190000 | &nbsp;&nbsp;&nbsp; 4.654% (SOFRRATE + 1.100%) due 10/18/30<sup>(d)</sup> | 193101  |
| 15000 | &nbsp;&nbsp;&nbsp; 5.230% (SOFRRATE + 1.108%) due 1/15/31<sup>(d)</sup> | 15534  |
| 1180000 | &nbsp;&nbsp;&nbsp; 2.699% (SOFRRATE + 1.143%) due 1/22/31<sup>(d)</sup> | 1116538  |
| 149000 | &nbsp;&nbsp;&nbsp; 4.356% (SOFRRATE + 1.074%) due 10/22/31<sup>(d)</sup> | 149350  |
| 95000 | &nbsp;&nbsp;&nbsp; 5.466% (SOFRRATE + 1.730%) due 1/18/35<sup>(d)</sup> | 99447  |
| 3485000 | &nbsp;&nbsp;&nbsp; 5.831% (SOFRRATE + 1.580%) due 4/19/35<sup>(d)</sup> | 3724114  |
| 3055000 | &nbsp;&nbsp;&nbsp; 5.320% (SOFRRATE + 1.555%) due 7/19/35<sup>(d)</sup> | 3163300  |
| 86000 | &nbsp;&nbsp;&nbsp; 5.073% (SOFRRATE + 1.184%) due 1/30/37<sup>(d)</sup> | 86733  |
|  | Morgan Stanley, Subordinated Notes:<br>|  |
| 70000 | &nbsp;&nbsp;&nbsp; 5.948% (5-Year CMT Index + 2.430%) due 1/19/38<sup>(d)</sup> | 73761  |
| 137000 | &nbsp;&nbsp;&nbsp; 5.942% (5-Year CMT Index + 1.800%) due 2/7/39<sup>(d)</sup> | 144389  |

---

See Notes to Financial Statements.

174<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Financial – (continued)**  | **Financial – (continued)**  | **Financial – (continued)**  |
|  | Navient Corp., Senior Unsecured Notes:<br>|  |
| $30000 | &nbsp;&nbsp;&nbsp; 5.000% due 3/15/27 | $29546  |
| 30000 | &nbsp;&nbsp;&nbsp; 7.875% due 6/15/32 | 27906  |
| 66000 | New York Life Insurance Co., Subordinated Notes, 6.750% due 11/15/39<sup>(c)</sup> | 75940  |
|  | Omega Healthcare Investors Inc., Company Guaranteed Notes:<br>|  |
| 78000 | &nbsp;&nbsp;&nbsp; 3.375% due 2/1/31 | 73609  |
| 83000 | &nbsp;&nbsp;&nbsp; 3.250% due 4/15/33 | 74947  |
|  | OneMain Finance Corp., Company Guaranteed Notes:<br>|  |
| 45000 | &nbsp;&nbsp;&nbsp; 7.500% due 5/15/31 | 46463  |
| 65000 | &nbsp;&nbsp;&nbsp; 6.500% due 3/15/33 | 64408  |
| 1320000 | Ontario Teachers' Cadillac Fairview Properties Trust, Senior Unsecured Notes, 2.500% due 10/15/31<sup>(c)</sup> | 1198340  |
| 200000 | &nbsp;&nbsp;&nbsp; Oversea-Chinese Banking Corp., Ltd, Subordinated Notes, 4.602% <br>(5-Year CMT Index + 1.575%) due 6/15/32<sup>(d)</sup> | 201084  |
| 90000 | Panther Escrow Issuer LLC, Senior Secured Notes, 7.125% due 6/1/31<sup>(c)</sup> | 91561  |
| 75000 | Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co.-Issuer, Company Guaranteed Notes, 7.000% due 2/1/30<sup>(c)</sup> | 77653  |
|  | PennyMac Financial Services Inc., Company Guaranteed Notes:<br>|  |
| 45000 | &nbsp;&nbsp;&nbsp; 4.250% due 2/15/29<sup>(c)</sup> | 43261  |
| 80000 | &nbsp;&nbsp;&nbsp; 7.875% due 12/15/29<sup>(c)</sup> | 83995  |
| 35000 | &nbsp;&nbsp;&nbsp; 6.875% due 5/15/32<sup>(c)</sup> | 35200  |
| 143000 | Phillips Edison Grocery Center Operating Partnership I LP, Company Guaranteed Notes, 5.750% due 7/15/34 | 151384  |
|  | PNC Financial Services Group Inc., Senior Unsecured Notes:<br>|  |
| 3610000 | &nbsp;&nbsp;&nbsp; 5.068% (SOFRRATE + 1.933%) due 1/24/34<sup>(d)</sup> | 3730533  |
| 96000 | &nbsp;&nbsp;&nbsp; 5.373% (SOFRRATE + 1.417%) due 7/21/36<sup>(d)</sup> | 99531  |
| 63000 | &nbsp;&nbsp;&nbsp; PNC Financial Services Group Inc., Subordinated Notes, 5.423% <br>(5-Year CMT Index + 1.170%) due 1/25/41<sup>(d)</sup> | 63690  |
|  | Prologis Targeted US Logistics Fund LP, Company Guaranteed Notes:<br>|  |
| 135000 | &nbsp;&nbsp;&nbsp; 4.250% due 1/15/31<sup>(c)</sup> | 135203  |
| 375000 | &nbsp;&nbsp;&nbsp; 4.750% due 1/15/36<sup>(c)</sup> | 370756  |
|  | Realty Income Corp., Senior Unsecured Notes:<br>|  |
| 535000 | &nbsp;&nbsp;&nbsp; 4.500% due 2/1/33 | 536098  |
| 180000 | &nbsp;&nbsp;&nbsp; 5.125% due 4/15/35 | 185189  |
|  | RHP Hotel Properties LP/RHP Finance Corp., Company Guaranteed Notes:<br>|  |
| 80000 | &nbsp;&nbsp;&nbsp; 6.500% due 6/15/33<sup>(c)</sup> | 83103  |
| 60000 | &nbsp;&nbsp;&nbsp; 5.750% due 3/15/34<sup>(c)</sup> | 60438  |
| 45000 | Rocket Cos., Inc., Company Guaranteed Notes, 6.375% due 8/1/33<sup>(c)</sup> | 46508  |
| 298000 | &nbsp;&nbsp;&nbsp; Royal Bank of Canada, Senior Unsecured Notes, 4.305% <br>(SOFRRATE + 0.980%) due 11/3/31<sup>(d)</sup> | 299922  |
| 3415000 | SBA Tower Trust, Asset Backed, 1.631% due 11/15/26<sup>(c)</sup> | 3356634  |
|  | Service Properties Trust, Company Guaranteed Notes:<br>|  |
| 25000 | &nbsp;&nbsp;&nbsp; 5.500% due 12/15/27 | 25053  |
| 40000 | &nbsp;&nbsp;&nbsp; 8.875% due 6/15/32 | 40150  |

---

See Notes to Financial Statements.

175<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Financial – (continued)**  | **Financial – (continued)**  | **Financial – (continued)**  |
| $60000 | Service Properties Trust, Senior Secured Notes, zero coupon, due 9/30/27<sup>(c)</sup> | $54725  |
| 75000 | Starwood Property Trust Inc., Company Guaranteed Notes, 5.250% due 10/15/28<sup>(c)</sup> | 75361  |
|  | Starwood Property Trust Inc., Senior Unsecured Notes:<br>|  |
| 70000 | &nbsp;&nbsp;&nbsp; 7.250% due 4/1/29<sup>(c)</sup> | 73350  |
| 35000 | &nbsp;&nbsp;&nbsp; 6.000% due 4/15/30<sup>(c)</sup> | 35811  |
| 27000 | Store Capital LLC, Senior Unsecured Notes, 4.950% due 2/11/31<sup>(c)</sup> | 27240  |
|  | Synchrony Financial, Senior Unsecured Notes:<br>|  |
| 435000 | &nbsp;&nbsp;&nbsp; 5.450% (SOFRRATE + 1.680%) due 3/6/31<sup>(d)</sup> | 444308  |
| 90000 | &nbsp;&nbsp;&nbsp; 4.947% (SOFRRATE + 1.530%) due 2/25/32<sup>(d)</sup> | 89469  |
| 380000 | &nbsp;&nbsp;&nbsp; 6.000% (SOFRRATE + 2.070%) due 7/29/36<sup>(d)</sup> | 387269  |
| 74000 | Toronto-Dominion Bank, Senior Unsecured Notes, 4.928% due 10/15/35 | 74608  |
| 82000 | Travelers Cos., Inc., Senior Unsecured Notes, 4.600% due 8/1/43 | 75604  |
|  | Truist Financial Corp., Senior Unsecured Notes:<br>|  |
| 60000 | &nbsp;&nbsp;&nbsp; 7.161% (SOFRRATE + 2.446%) due 10/30/29<sup>(d)</sup> | 64592  |
| 132000 | &nbsp;&nbsp;&nbsp; 5.153% (SOFRRATE + 1.571%) due 8/5/32<sup>(d)</sup> | 137108  |
| 3295000 | &nbsp;&nbsp;&nbsp; 5.122% (SOFRRATE + 1.852%) due 1/26/34<sup>(d)</sup> | 3379698  |
|  | UBS Group AG, Senior Unsecured Notes:<br>|  |
| 3400000 | &nbsp;&nbsp;&nbsp; 3.091% (SOFRRATE + 1.730%) due 5/14/32<sup>(c)(d)</sup> | 3181609  |
| 1850000 | &nbsp;&nbsp;&nbsp; 2.746% (1-Year CMT Index + 1.100%) due 2/11/33<sup>(c)(d)</sup> | 1673793  |
| 5160000 | UDR Inc., Company Guaranteed Notes, 3.200% due 1/15/30 | 5008213  |
| 200000 | &nbsp;&nbsp;&nbsp; United Overseas Bank Ltd., Subordinated Notes, 2.000% <br>(5-Year CMT Index + 1.230%) due 10/14/31<sup>(d)</sup> | 197344  |
| 1145000 | US Bancorp, Senior Unsecured Notes, 4.839% (SOFRRATE + 1.600%) due 2/1/34<sup>(d)</sup> | 1161874  |
| 287000 | VICI Properties LP/VICI Note Co., Inc., Company Guaranteed Notes, 4.625% due 12/1/29<sup>(c)</sup> | 286714  |
| 60000 | Walker & Dunlop Inc., Company Guaranteed Notes, 6.625% due 4/1/33<sup>(c)</sup> | 59305  |
|  | Wells Fargo & Co., Senior Unsecured Notes:<br>|  |
| 160000 | &nbsp;&nbsp;&nbsp; 3.000% due 4/22/26 | 159793  |
| 95000 | &nbsp;&nbsp;&nbsp; 2.572% (3-Month TSFR + 1.262%) due 2/11/31<sup>(d)</sup> | 89414  |
| 337000 | &nbsp;&nbsp;&nbsp; 5.150% (SOFRRATE + 1.500%) due 4/23/31<sup>(d)</sup> | 348874  |
| 425000 | &nbsp;&nbsp;&nbsp; 3.350% (SOFRRATE + 1.500%) due 3/2/33<sup>(d)</sup> | 399103  |
| 5845000 | &nbsp;&nbsp;&nbsp; 5.389% (SOFRRATE + 2.020%) due 4/24/34<sup>(d)</sup> | 6091102  |
| 306000 | &nbsp;&nbsp;&nbsp; 4.892% (SOFRRATE + 1.340%) due 9/15/36<sup>(d)</sup> | 306890  |
| 45000 | &nbsp;&nbsp;&nbsp; 5.013% (3-Month TSFR + 4.502%) due 4/4/51<sup>(d)</sup> | 41168  |
| 83000 | Willis North America Inc., Company Guaranteed Notes, 4.550% due 3/15/31 | 83059  |
| 135000 | XHR LP, Company Guaranteed Notes, 6.625% due 5/15/30<sup>(c)</sup> | 139987  |
|  | Total Financial | 97327769  |
| **Industrial – 1.0%**  | **Industrial – 1.0%**  | **Industrial – 1.0%**  |
| 70000 | AAR Escrow Issuer LLC, Company Guaranteed Notes, 6.750% due 3/15/29<sup>(c)</sup> | 72167  |
| 45000 | Advanced Drainage Systems Inc., Senior Unsecured Notes, 5.375% due 3/1/34<sup>(c)</sup> | 45343  |

---

See Notes to Financial Statements.

176<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Industrial – (continued)**  | **Industrial – (continued)**  | **Industrial – (continued)**  |
| $213000 | Amphenol Corp., Senior Unsecured Notes, 5.300% due 11/15/55 | $206256  |
| 62000 | Amrize Finance US LLC, Company Guaranteed Notes, 4.950% due 4/7/30 | 63787  |
| 148000 | Arrow Electronics Inc., Senior Unsecured Notes, 5.150% due 8/21/29 | 151843  |
| 15000 | Artera Services LLC, Senior Secured Notes, 8.500% due 2/15/31<sup>(c)</sup> | 12540  |
| 269000 | Avnet Inc., Senior Unsecured Notes, 6.250% due 3/15/28 | 278997  |
| 385000 | BAE Systems PLC, Senior Unsecured Notes, 5.125% due 3/26/29<sup>(c)</sup> | 398823  |
| 310093 | Bioceanico Sovereign Certificate Ltd., Senior Secured Notes, zero coupon, due 6/5/34 | 257229  |
|  | Boeing Co., Senior Unsecured Notes:<br>|  |
| 125000 | &nbsp;&nbsp;&nbsp; 3.200% due 3/1/29 | 122136  |
| 101000 | &nbsp;&nbsp;&nbsp; 2.950% due 2/1/30 | 96868  |
| 600000 | &nbsp;&nbsp;&nbsp; 5.150% due 5/1/30 | 621444  |
| 110000 | &nbsp;&nbsp;&nbsp; 6.388% due 5/1/31 | 120238  |
| 415000 | &nbsp;&nbsp;&nbsp; 5.705% due 5/1/40 | 431781  |
|  | Builders FirstSource Inc., Company Guaranteed Notes:<br>|  |
| 65000 | &nbsp;&nbsp;&nbsp; 6.375% due 3/1/34<sup>(c)</sup> | 66951  |
| 50000 | &nbsp;&nbsp;&nbsp; 6.750% due 5/15/35<sup>(c)</sup> | 52178  |
| 131000 | Burlington Northern Santa Fe LLC, Senior Unsecured Notes, 5.500% due 3/15/55 | 130835  |
| 155000 | CCL Industries Inc., Senior Unsecured Notes, 3.050% due 6/1/30<sup>(c)</sup> | 146852  |
| 200000 | &nbsp;&nbsp;&nbsp; Cemex SAB de CV, Subordinated Notes, 5.125% <br>(5-Year CMT Index + 4.534%)<sup>(d)(i)</sup> | 199676  |
| 95000 | Clydesdale Acquisition Holdings Inc., Senior Secured Notes, 6.750% due 4/15/32<sup>(c)</sup> | 95717  |
| 154000 | CNH Industrial Capital LLC, Company Guaranteed Notes, 4.375% due 3/7/31 | 153900  |
| 90000 | Columbus McKinnon Corp., Senior Secured Notes, 7.125% due 2/1/33<sup>(c)</sup> | 92525  |
| 35000 | Cornerstone Building Brands Inc., Senior Secured Notes, 9.500% due 8/15/29<sup>(c)</sup> | 25440  |
| 149000 | CRH America Finance Inc., Company Guaranteed Notes, 4.400% due 2/9/31 | 150111  |
|  | CSX Corp., Senior Unsecured Notes:<br>|  |
| 405000 | &nbsp;&nbsp;&nbsp; 5.050% due 6/15/35 | 417748  |
| 331000 | &nbsp;&nbsp;&nbsp; 3.350% due 9/15/49 | 238218  |
| 115000 | Danaos Corp., Company Guaranteed Notes, 6.875% due 10/15/32<sup>(c)</sup> | 118602  |
| 115000 | EMRLD Borrower LP/Emerald Co.-Issuer Inc., Senior Secured Notes, 6.625% due 12/15/30<sup>(c)</sup> | 119024  |
| 55000 | Energizer Holdings Inc., Company Guaranteed Notes, 6.000% due 9/15/33<sup>(c)</sup> | 53696  |
|  | Fedex Freight Holding Co., Inc., Company Guaranteed Notes:<br>|  |
| 200000 | &nbsp;&nbsp;&nbsp; 4.650% due 3/15/31<sup>(c)</sup> | 201098  |
| 131000 | &nbsp;&nbsp;&nbsp; 4.950% due 3/15/33<sup>(c)</sup> | 130996  |
| 73000 | Flex Ltd., Senior Unsecured Notes, 5.375% due 11/13/35 | 73800  |
|  | GATX Corp., Senior Unsecured Notes:<br>|  |
| 83000 | &nbsp;&nbsp;&nbsp; 5.500% due 6/15/35 | 86244  |
| 78000 | &nbsp;&nbsp;&nbsp; 5.200% due 3/15/44 | 75146  |

---

See Notes to Financial Statements.

177<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Industrial – (continued)**  | **Industrial – (continued)**  | **Industrial – (continued)**  |
| $49000 | GE Vernova Inc., Senior Unsecured Notes, 5.500% due 2/4/56 | $48614  |
| 210000 | Genesee & Wyoming Inc., Senior Secured Notes, 6.250% due 4/15/32<sup>(c)</sup> | 216455  |
| 95000 | GFL Environmental Holdings US Inc., Company Guaranteed Notes, 5.500% due 2/1/34<sup>(c)</sup> | 95342  |
| 55000 | Goat Holdco LLC, Senior Secured Notes, 6.750% due 2/1/32<sup>(c)</sup> | 56837  |
| 30000 | GrafTech Finance Inc., Secured Notes, 4.625% due 12/23/29<sup>(c)</sup> | 14550  |
| 115000 | Griffon Corp., Company Guaranteed Notes, 5.750% due 3/1/28 | 114940  |
| 84000 | Hubbell Inc., Senior Unsecured Notes, 4.800% due 11/15/35 | 84500  |
| 62000 | Jabil Inc., Senior Unsecured Notes, 4.750% due 2/1/33 | 61773  |
| 250000 | Jacobs Solutions Inc., Company Guaranteed Notes, 5.375% due 3/3/36 | 250042  |
| 223678 | Lima Metro Line 2 Finance Ltd., Senior Secured Notes, 5.875% due 7/5/34 | 231816  |
| 144000 | Lockheed Martin Corp., Senior Unsecured Notes, 5.000% due 8/15/35 | 148816  |
| 145000 | Madison IAQ LLC, Senior Unsecured Notes, 5.875% due 6/30/29<sup>(c)</sup> | 144653  |
| 138000 | MasTec Inc., Senior Unsecured Notes, 5.900% due 6/15/29 | 144843  |
| 105000 | Miter Brands Acquisition Holdco Inc./MIWD Borrower LLC, Senior Secured Notes, 6.750% due 4/1/32<sup>(c)</sup> | 105872  |
| 157000 | Molex Electronic Technologies LLC, Senior Unsecured Notes, 5.250% due 4/30/32<sup>(c)</sup> | 162882  |
| 138806 | MV24 Capital BV, Senior Secured Notes, 6.748% due 6/1/34 | 142012  |
|  | Northrop Grumman Corp., Senior Unsecured Notes:<br>|  |
| 120000 | &nbsp;&nbsp;&nbsp; 4.650% due 7/15/30 | 122879  |
| 240000 | &nbsp;&nbsp;&nbsp; 5.150% due 5/1/40 | 242853  |
| 89000 | &nbsp;&nbsp;&nbsp; 4.030% due 10/15/47 | 73013  |
| 241000 | &nbsp;&nbsp;&nbsp; 5.200% due 6/1/54 | 230025  |
| 72000 | nVent Finance SARL, Company Guaranteed Notes, 5.650% due 5/15/33 | 76089  |
| 130000 | Owens Corning, Senior Unsecured Notes, 5.700% due 6/15/34 | 137903  |
|  | Penske Truck Leasing Co. LP/PTL Finance Corp., Senior Unsecured Notes:<br>|  |
| 35000 | &nbsp;&nbsp;&nbsp; 5.750% due 5/24/26<sup>(c)</sup> | 35083  |
| 125000 | &nbsp;&nbsp;&nbsp; 6.050% due 8/1/28<sup>(c)</sup> | 130309  |
| 282000 | &nbsp;&nbsp;&nbsp; 5.250% due 2/1/30<sup>(c)</sup> | 292058  |
| 125000 | &nbsp;&nbsp;&nbsp; 4.550% due 1/15/31<sup>(c)</sup> | 125790  |
| 85000 | Quikrete Holdings Inc., Senior Unsecured Notes, 6.750% due 3/1/33<sup>(c)</sup> | 88354  |
| 138000 | Republic Services Inc., Senior Unsecured Notes, 5.150% due 3/15/35 | 144166  |
| 95000 | Seaspan Corp., Senior Unsecured Notes, 5.500% due 8/1/29<sup>(c)</sup> | 90995  |
| 305000 | Simpar Europe SA, Company Guaranteed Notes, 5.200% due 1/26/31 | 254889  |
| 38000 | Sonoco Products Co., Senior Unsecured Notes, 4.600% due 9/1/29 | 38529  |
| 57000 | Spirit AeroSystems Inc., Company Guaranteed Notes, 4.600% due 6/15/28 | 57483  |
| 65000 | Standard Building Solutions Inc., Company Guaranteed Notes, 5.875% due 3/15/34<sup>(c)</sup> | 64842  |
| 50000 | Standard Building Solutions Inc., Senior Unsecured Notes, 6.500% due 8/15/32<sup>(c)</sup> | 51467  |
| 20000 | Star Leasing Co. LLC, Secured Notes, 7.625% due 2/15/30<sup>(c)</sup> | 19019  |
| 137000 | Textron Inc., Senior Unsecured Notes, 5.500% due 5/15/35 | 144142  |
| 90000 | TransDigm Inc., Company Guaranteed Notes, 6.375% due 5/31/33<sup>(c)</sup> | 91857  |

---

See Notes to Financial Statements.

178<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Industrial – (continued)**  | **Industrial – (continued)**  | **Industrial – (continued)**  |
|  | TransDigm Inc., Senior Secured Notes:<br>|  |
| $135000 | &nbsp;&nbsp;&nbsp; 6.875% due 12/15/30<sup>(c)</sup> | $140502  |
| 5000 | &nbsp;&nbsp;&nbsp; 6.250% due 1/31/34<sup>(c)</sup> | 5172  |
| 10000 | TransDigm Inc., Senior Subordinated Notes, 6.750% due 1/31/34<sup>(c)</sup> | 10378  |
| 30000 | Trident TPI Holdings Inc., Company Guaranteed Notes, 12.750% due 12/31/28<sup>(c)</sup> | 30777  |
|  | Veralto Corp., Company Guaranteed Notes:<br>|  |
| 95000 | &nbsp;&nbsp;&nbsp; 5.500% due 9/18/26 | 95655  |
| 47000 | &nbsp;&nbsp;&nbsp; 5.350% due 9/18/28 | 48537  |
| 73000 | &nbsp;&nbsp;&nbsp; 5.450% due 9/18/33 | 76927  |
| 181000 | Vertiv Group Corp., Senior Secured Notes, 4.125% due 11/15/28<sup>(c)</sup> | 180269  |
| 109000 | Vertiv Holdings Co., Senior Unsecured Notes, 5.800% due 3/15/56 | 109182  |
| 119000 | Waste Connections Inc., Senior Unsecured Notes, 5.250% due 9/1/35 | 124564  |
| 110000 | Watco Cos LLC/Watco Finance Corp., Senior Unsecured Notes, 7.125% due 8/1/32<sup>(c)</sup> | 115742  |
|  | WESCO Distribution Inc., Company Guaranteed Notes:<br>|  |
| 35000 | &nbsp;&nbsp;&nbsp; 6.375% due 3/15/33<sup>(c)</sup> | 36492  |
| 50000 | &nbsp;&nbsp;&nbsp; 5.500% due 4/15/34<sup>(c)</sup> | 50388  |
|  | Westinghouse Air Brake Technologies Corp., Company Guaranteed Notes:<br>|  |
| 500000 | &nbsp;&nbsp;&nbsp; 4.900% due 5/29/30 | 515017  |
| 310000 | &nbsp;&nbsp;&nbsp; 5.611% due 3/11/34 | 328736  |
| 2400000 | WRKCo Inc., Company Guaranteed Notes, 3.900% due 6/1/28 | 2397842  |
| 170000 | XPO Inc., Company Guaranteed Notes, 7.125% due 6/1/31<sup>(c)</sup> | 176649  |
| 197340 | Yinson Bergenia Production BV, Senior Secured Notes, 8.498% due 1/31/45<sup>(c)</sup> | 209591  |
|  | Total Industrial | 14696321  |
| **Technology – 0.6%**  | **Technology – 0.6%**  | **Technology – 0.6%**  |
| 40000 | Amentum Holdings Inc., Company Guaranteed Notes, 7.250% due 8/1/32<sup>(c)</sup> | 41913  |
| 85000 | AthenaHealth Group Inc., Senior Unsecured Notes, 6.500% due 2/15/30<sup>(c)</sup> | 79923  |
| 90000 | Atlassian Corp., Senior Unsecured Notes, 5.250% due 5/15/29 | 91589  |
| 367000 | Broadcom Inc., Company Guaranteed Notes, 3.500% due 2/15/41 | 304017  |
|  | Broadcom Inc., Senior Unsecured Notes:<br>|  |
| 95000 | &nbsp;&nbsp;&nbsp; 5.050% due 7/12/29 | 98295  |
| 520000 | &nbsp;&nbsp;&nbsp; 4.200% due 10/15/30 | 522916  |
| 190000 | &nbsp;&nbsp;&nbsp; 5.200% due 7/15/35 | 196367  |
| 35000 | CACI International Inc., Company Guaranteed Notes, 6.375% due 6/15/33<sup>(c)</sup> | 36032  |
| 50000 | Cloud Software Group Inc., Secured Notes, 9.000% due 9/30/29<sup>(c)</sup> | 48962  |
|  | Cloud Software Group Inc., Senior Secured Notes:<br>|  |
| 65000 | &nbsp;&nbsp;&nbsp; 6.500% due 3/31/29<sup>(c)</sup> | 63744  |
| 35000 | &nbsp;&nbsp;&nbsp; 6.625% due 8/15/33<sup>(c)</sup> | 33033  |
| 55000 | CoreWeave Inc., Company Guaranteed Notes, 9.250% due 6/1/30<sup>(c)</sup> | 53870  |
| 67000 | Dell Inc., Senior Unsecured Notes, 6.500% due 4/15/38 | 72635  |
| 95000 | Ellucian Holdings Inc., Senior Secured Notes, 6.500% due 12/1/29<sup>(c)</sup> | 93159  |
| 147000 | Fiserv Inc., Senior Unsecured Notes, 4.550% due 2/15/31 | 146537  |

---

See Notes to Financial Statements.

179<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Technology – (continued)**  | **Technology – (continued)**  | **Technology – (continued)**  |
| $795000 | Foundry JV Holdco LLC, Senior Secured Notes, 6.150% due 1/25/32<sup>(c)</sup> | $852773  |
|  | Intel Corp., Senior Unsecured Notes:<br>|  |
| 40000 | &nbsp;&nbsp;&nbsp; 5.200% due 2/10/33 | 41242  |
| 130000 | &nbsp;&nbsp;&nbsp; 4.100% due 5/11/47 | 100409  |
| 370000 | &nbsp;&nbsp;&nbsp; 3.734% due 12/8/47 | 267864  |
| 260000 | &nbsp;&nbsp;&nbsp; 3.250% due 11/15/49 | 170221  |
| 125000 | &nbsp;&nbsp;&nbsp; 4.750% due 3/25/50 | 104415  |
| 125000 | &nbsp;&nbsp;&nbsp; 5.050% due 8/5/62 | 104045  |
| 279000 | Kyndryl Holdings Inc., Senior Unsecured Notes, 4.100% due 10/15/41 | 200115  |
| 262000 | Marvell Technology Inc., Senior Unsecured Notes, 5.950% due 9/15/33 | 281474  |
| 25000 | McAfee Corp., Senior Unsecured Notes, 7.375% due 2/15/30<sup>(c)</sup> | 20455  |
| 250000 | Micron Technology Inc., Senior Unsecured Notes, 5.650% due 11/1/32 | 266476  |
| 68000 | NetApp Inc., Senior Unsecured Notes, 5.500% due 3/17/32 | 70878  |
|  | NVIDIA Corp., Senior Unsecured Notes:<br>|  |
| 100000 | &nbsp;&nbsp;&nbsp; 2.850% due 4/1/30 | 96196  |
| 490000 | &nbsp;&nbsp;&nbsp; 3.500% due 4/1/40 | 422502  |
| 117000 | NXP BV/NXP Funding LLC/NXP USA Inc., Company Guaranteed Notes, 4.850% due 8/19/32 | 119028  |
|  | Oracle Corp., Senior Unsecured Notes:<br>|  |
| 975000 | &nbsp;&nbsp;&nbsp; 4.800% due 9/26/32 | 952697  |
| 50000 | &nbsp;&nbsp;&nbsp; 4.900% due 2/6/33 | 48880  |
| 360000 | &nbsp;&nbsp;&nbsp; 5.350% due 5/4/33 | 361214  |
| 106000 | &nbsp;&nbsp;&nbsp; 4.300% due 7/8/34 | 97185  |
| 330000 | &nbsp;&nbsp;&nbsp; 4.700% due 9/27/34 | 310120  |
| 250000 | &nbsp;&nbsp;&nbsp; 3.800% due 11/15/37 | 205604  |
| 874000 | &nbsp;&nbsp;&nbsp; 3.600% due 4/1/50 | 546711  |
| 115000 | &nbsp;&nbsp;&nbsp; 3.950% due 3/25/51 | 76125  |
| 229000 | &nbsp;&nbsp;&nbsp; 5.550% due 2/6/53 | 190436  |
| 166000 | &nbsp;&nbsp;&nbsp; 5.375% due 9/27/54 | 134395  |
| 115000 | &nbsp;&nbsp;&nbsp; 6.000% due 8/3/55 | 101304  |
| 55000 | &nbsp;&nbsp;&nbsp; 5.500% due 9/27/64 | 43496  |
| 170000 | &nbsp;&nbsp;&nbsp; 6.850% due 2/4/66 | 162862  |
| 283000 | Paychex Inc., Senior Unsecured Notes, 5.350% due 4/15/32 | 290231  |
| 96000 | Qorvo Inc., Company Guaranteed Notes, 3.375% due 4/1/31<sup>(c)</sup> | 88476  |
| 88000 | Roper Technologies Inc., Senior Unsecured Notes, 4.250% due 9/15/28 | 88396  |
| 105000 | UKG Inc., Senior Secured Notes, 6.875% due 2/1/31<sup>(c)</sup> | 101866  |
| 72000 | Workday Inc., Senior Unsecured Notes, 3.800% due 4/1/32 | 68297  |
|  | Total Technology | 8869380  |
| **Utilities – 2.5%**  | **Utilities – 2.5%**  | **Utilities – 2.5%**  |
| 200000 | Adani Electricity Mumbai Ltd., Senior Secured Notes, 3.949% due 2/12/30 | 189672  |
| 266000 | Adani Transmission Step-One Ltd., Senior Secured Notes, 4.250% due 5/21/36 | 242467  |
| 76000 | AEP Texas Inc., Senior Unsecured Notes, 5.450% due 5/15/29 | 79245  |

---

See Notes to Financial Statements.

180<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Utilities – (continued)**  | **Utilities – (continued)**  | **Utilities – (continued)**  |
|  | Alabama Power Co., Senior Unsecured Notes:<br>|  |
| $465000 | &nbsp;&nbsp;&nbsp; 4.300% due 3/15/31 | $469949  |
| 175000 | &nbsp;&nbsp;&nbsp; 3.450% due 10/1/49 | 127517  |
| 74000 | Alliant Energy Corp., Junior Subordinated Notes, 5.750% (5-Year CMT Index + 2.077%) due 4/1/56<sup>(d)</sup> | 73761  |
|  | Arizona Public Service Co., Senior Unsecured Notes:<br>|  |
| 190000 | &nbsp;&nbsp;&nbsp; 5.700% due 8/15/34 | 201430  |
| 297000 | &nbsp;&nbsp;&nbsp; 5.900% due 8/15/55 | 305609  |
| 1100000 | Berkshire Hathaway Energy Co., Senior Unsecured Notes, 5.950% due 5/15/37 | 1198831  |
| 135000 | Black Hills Corp., Senior Unsecured Notes, 6.000% due 1/15/35 | 145377  |
| 215000 | Brooklyn Union Gas Co., Senior Unsecured Notes, 4.866% due 8/5/32<sup>(c)</sup> | 216738  |
| 198268 | Buffalo Energy Mexico Holdings/Buffalo Energy Infrastructure/Buffalo Energy, Senior Secured Notes, 7.875% due 2/15/39<sup>(c)</sup> | 216996  |
| 50000 | CenterPoint Energy Houston Electric LLC, General Refunding Mortgage Notes, 4.850% due 4/1/36 | 50155  |
| 292000 | CenterPoint Energy Inc., Senior Unsecured Notes, 5.400% due 6/1/29 | 303779  |
| 87000 | CenterPoint Energy Resources Corp., Senior Unsecured Notes, 1.750% due 10/1/30 | 78456  |
| 194174 | Chile Electricity Lux Mpc II SARL, Government Guaranteed Notes, 5.672% due 10/20/35<sup>(c)</sup> | 201567  |
| 172000 | Chile Electricity Lux MPC SARL, Government Guaranteed Notes, 6.010% due 1/20/33 | 180799  |
| 148053 | Chile Electricity PEC SpA, Senior Secured Notes, zero coupon, due 1/25/28<sup>(c)</sup> | 134506  |
| 100000 | Cleco Corporate Holdings LLC, Senior Unsecured Notes, 3.375% due 9/15/29 | 95219  |
| 71000 | &nbsp;&nbsp;&nbsp; CMS Energy Corp., Junior Subordinated Notes, 6.500% <br>(5-Year CMT Index + 1.961%) due 6/1/55<sup>(d)</sup> | 74201  |
| 200000 | Comision Federal de Electricidad, Company Guaranteed Notes, 6.450% due 1/24/35<sup>(c)</sup> | 207208  |
| 291000 | Commonwealth Edison Co., 1st Mortgage Notes, 5.950% due 6/1/55 | 304086  |
|  | Consolidated Edison Co. of New York Inc., Senior Unsecured Notes:<br>|  |
| 250000 | &nbsp;&nbsp;&nbsp; 3.200% due 12/1/51 | 168860  |
| 185000 | &nbsp;&nbsp;&nbsp; 5.500% due 3/15/55 | 181514  |
| 185000 | &nbsp;&nbsp;&nbsp; 5.750% due 11/15/55 | 187745  |
| 122000 | Constellation Energy Generation LLC, Senior Unsecured Notes, 4.400% due 1/15/31 | 122833  |
| 86000 | Consumers Energy Co., 1st Mortgage Notes, 4.500% due 1/15/31 | 87757  |
| 3025000 | Dominion Energy Inc., Senior Unsecured Notes, 3.375% due 4/1/30 | 2942655  |
| 192000 | DTE Energy Co., Senior Unsecured Notes, 5.850% due 6/1/34 | 206515  |
| 245000 | Duke Energy Carolinas LLC, 1st Mortgage Notes, 5.300% due 2/15/40 | 250344  |

---

See Notes to Financial Statements.

181<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Utilities – (continued)**  | **Utilities – (continued)**  | **Utilities – (continued)**  |
|  | Duke Energy Corp., Senior Unsecured Notes:<br>|  |
| $585000 | &nbsp;&nbsp;&nbsp; 2.550% due 6/15/31 | $538349  |
| 85000 | &nbsp;&nbsp;&nbsp; 5.450% due 6/15/34 | 89200  |
| 570000 | &nbsp;&nbsp;&nbsp; 4.950% due 9/15/35 | 571130  |
| 45000 | &nbsp;&nbsp;&nbsp; 5.000% due 8/15/52 | 39879  |
| 247000 | &nbsp;&nbsp;&nbsp; 5.800% due 6/15/54 | 244915  |
| 65000 | Duke Energy Ohio Inc., 1st Mortgage Notes, 5.550% due 3/15/54 | 64636  |
|  | Duke Energy Progress LLC, 1st Mortgage Notes:<br>|  |
| 395000 | &nbsp;&nbsp;&nbsp; 5.050% due 3/15/35 | 405357  |
| 140000 | &nbsp;&nbsp;&nbsp; 5.550% due 3/15/55 | 139618  |
|  | Edison International, Senior Unsecured Notes:<br>|  |
| 210000 | &nbsp;&nbsp;&nbsp; 6.250% due 3/15/30 | 222114  |
| 250000 | &nbsp;&nbsp;&nbsp; 4.800% due 3/15/31 | 249850  |
| 76000 | &nbsp;&nbsp;&nbsp; 5.250% due 3/15/32 | 77395  |
| 46400 | Empresa Electrica Cochrane SpA, Senior Secured Notes, 5.500% due 5/14/27 | 46394  |
| 200000 | Empresas Publicas de Medellin ESP, Senior Unsecured Notes, 4.375% due 2/15/31 | 184173  |
| 73000 | Entergy Arkansas LLC, 1st Mortgage Notes, 5.750% due 6/1/54 | 73593  |
| 137000 | &nbsp;&nbsp;&nbsp; Entergy Corp., Junior Subordinated Notes, 7.125% <br>(5-Year CMT Index + 2.670%) due 12/1/54<sup>(d)</sup> | 143330  |
| 100000 | Entergy Louisiana LLC, 1st Mortgage Notes, 4.750% due 9/15/52 | 87987  |
| 149000 | Evergy Kansas Central Inc., 1st Mortgage Notes, 5.700% due 3/15/53 | 151926  |
|  | Eversource Energy, Senior Unsecured Notes:<br>|  |
| 135000 | &nbsp;&nbsp;&nbsp; 4.450% due 12/15/30 | 135765  |
| 335000 | &nbsp;&nbsp;&nbsp; 5.125% due 5/15/33 | 342327  |
| 85000 | FirstEnergy Corp., Senior Unsecured Notes, 3.900% due 7/15/27 | 85351  |
|  | Georgia Power Co., Senior Unsecured Notes:<br>|  |
| 250000 | &nbsp;&nbsp;&nbsp; 4.000% due 10/1/28 | 251423  |
| 235000 | &nbsp;&nbsp;&nbsp; 4.550% due 3/15/30 | 239780  |
| 80000 | Jersey Central Power & Light Co., Senior Unsecured Notes, 5.100% due 1/15/35 | 82164  |
| 278000 | JSW Hydro Energy Ltd., Senior Secured Notes, 4.125% due 5/18/31 | 262637  |
| 60000 | Kentucky Utilities Co., 1st Mortgage Notes, 5.850% due 8/15/55 | 61718  |
| 207848 | Mexico Generadora de Energia S de rl, Senior Secured Notes, 5.500% due 12/6/32 | 210609  |
| 129800 | Minejesa Capital BV, Senior Secured Notes, 4.625% due 8/10/30 | 129843  |
| 144845 | Mong Duong Finance Holdings BV, Senior Secured Notes, 5.125% due 5/7/29 | 144191  |
| 30000 | Monongahela Power Co., 1st Mortgage Notes, 5.850% due 2/15/34<sup>(c)</sup> | 32304  |
| 60000 | National Fuel Gas Co., Senior Unsecured Notes, 5.950% due 3/15/35 | 63921  |
| 2960000 | National Rural Utilities Cooperative Finance Corp., Collateral Trust, 5.000% due 8/15/34 | 3055033  |

---

See Notes to Financial Statements.

182<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Utilities – (continued)**  | **Utilities – (continued)**  | **Utilities – (continued)**  |
| $143000 | NextEra Energy Capital Holdings Inc., Company Guaranteed Notes, 5.900% due 3/15/55 | $145400  |
| 66000 | &nbsp;&nbsp;&nbsp; NiSource Inc., Junior Subordinated Notes, 6.950% <br>(5-Year CMT Index + 2.451%) due 11/30/54<sup>(d)</sup> | 68959  |
|  | NiSource Inc., Senior Unsecured Notes:<br>|  |
| 259000 | &nbsp;&nbsp;&nbsp; 3.600% due 5/1/30 | 254061  |
| 215000 | &nbsp;&nbsp;&nbsp; 5.350% due 4/1/34 | 224428  |
| 465000 | &nbsp;&nbsp;&nbsp; 5.350% due 7/15/35 | 480095  |
| 120000 | &nbsp;&nbsp;&nbsp; 5.850% due 4/1/55 | 121033  |
| 60000 | NRG Energy Inc., Company Guaranteed Notes, 6.000% due 2/1/33<sup>(c)</sup> | 61453  |
| 20000 | NRG Energy Inc., Senior Unsecured Notes, 5.750% due 1/15/34<sup>(c)</sup> | 20274  |
|  | NSTAR Electric Co., Senior Unsecured Notes:<br>|  |
| 75000 | &nbsp;&nbsp;&nbsp; 5.400% due 6/1/34 | 78433  |
| 230000 | &nbsp;&nbsp;&nbsp; 5.200% due 3/1/35 | 236774  |
| 85000 | Oglethorpe Power Corp., 1st Mortgage Notes, 5.050% due 10/1/48 | 77423  |
|  | Ohio Edison Co., Senior Unsecured Notes:<br>|  |
| 125000 | &nbsp;&nbsp;&nbsp; 4.950% due 12/15/29<sup>(c)</sup> | 128441  |
| 70000 | &nbsp;&nbsp;&nbsp; 5.500% due 1/15/33<sup>(c)</sup> | 73439  |
| 400000 | Ohio Power Co., Senior Unsecured Notes, 5.000% due 6/1/33 | 408739  |
|  | Pacific Gas & Electric Co., 1st Mortgage Notes:<br>|  |
| 190000 | &nbsp;&nbsp;&nbsp; 4.550% due 7/1/30 | 190898  |
| 785000 | &nbsp;&nbsp;&nbsp; 2.500% due 2/1/31 | 717718  |
| 340000 | &nbsp;&nbsp;&nbsp; 6.150% due 1/15/33 | 365351  |
| 135000 | &nbsp;&nbsp;&nbsp; 6.950% due 3/15/34 | 151953  |
| 480000 | &nbsp;&nbsp;&nbsp; 5.800% due 5/15/34 | 506440  |
| 45000 | &nbsp;&nbsp;&nbsp; 5.200% due 5/1/36 | 45149  |
| 112000 | &nbsp;&nbsp;&nbsp; 3.300% due 8/1/40 | 86964  |
| 44000 | &nbsp;&nbsp;&nbsp; 4.600% due 6/15/43 | 37646  |
| 95000 | &nbsp;&nbsp;&nbsp; 4.750% due 2/15/44 | 82518  |
| 104000 | &nbsp;&nbsp;&nbsp; 4.300% due 3/15/45 | 84195  |
| 85000 | &nbsp;&nbsp;&nbsp; 3.500% due 8/1/50 | 58696  |
| 188000 | &nbsp;&nbsp;&nbsp; 6.750% due 1/15/53 | 203146  |
| 36000 | &nbsp;&nbsp;&nbsp; 6.150% due 3/1/55 | 36252  |
| 25000 | &nbsp;&nbsp;&nbsp; 6.100% due 10/15/55 | 25052  |
| 280000 | Pacific Gas & Electric Co., Senior Secured Notes, 3.250% due 6/1/31 | 263948  |
|  | PacifiCorp, 1st Mortgage Notes:<br>|  |
| 125000 | &nbsp;&nbsp;&nbsp; 4.250% due 3/15/29 | 125846  |
| 23000 | &nbsp;&nbsp;&nbsp; 6.250% due 10/15/37 | 24477  |
| 21000 | &nbsp;&nbsp;&nbsp; 4.125% due 1/15/49 | 16009  |
| 315000 | &nbsp;&nbsp;&nbsp; 5.350% due 12/1/53 | 282574  |
| 171000 | &nbsp;&nbsp;&nbsp; 5.500% due 5/15/54 | 156740  |
| 30000 | &nbsp;&nbsp;&nbsp; 5.800% due 1/15/55 | 28576  |
| 200000 | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, Senior Unsecured Notes, 4.125% due 5/15/27 | 199642  |

---

See Notes to Financial Statements.

183<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Utilities – (continued)**  | **Utilities – (continued)**  | **Utilities – (continued)**  |
|  | Pinnacle West Capital Corp., Senior Unsecured Notes:<br>|  |
| $118000 | &nbsp;&nbsp;&nbsp; 4.900% due 5/15/28 | $120291  |
| 212000 | &nbsp;&nbsp;&nbsp; 5.150% due 5/15/30 | 219642  |
| 99000 | PSEG Power LLC, Senior Unsecured Notes, 5.200% due 5/15/30<sup>(c)</sup> | 102165  |
| 450000 | Public Service Co. of Oklahoma, Senior Unsecured Notes, 5.200% due 1/15/35 | 459577  |
|  | Public Service Enterprise Group Inc., Senior Unsecured Notes:<br>|  |
| 40000 | &nbsp;&nbsp;&nbsp; 6.125% due 10/15/33 | 43342  |
| 620000 | &nbsp;&nbsp;&nbsp; 5.400% due 3/15/35 | 643176  |
| 655000 | Puget Energy Inc., Senior Secured Notes, 5.725% due 3/15/35 | 677709  |
| 200000 | Saavi Energia SARL, Senior Unsecured Notes, 8.875% due 2/10/35<sup>(c)</sup> | 220800  |
|  | Southern California Edison Co., 1st Mortgage Notes:<br>|  |
| 290000 | &nbsp;&nbsp;&nbsp; 5.150% due 6/1/29 | 298327  |
| 85000 | &nbsp;&nbsp;&nbsp; 4.800% due 3/15/33 | 85376  |
| 85000 | &nbsp;&nbsp;&nbsp; 6.000% due 1/15/34 | 90688  |
| 340000 | &nbsp;&nbsp;&nbsp; 5.200% due 6/1/34 | 345641  |
| 55000 | &nbsp;&nbsp;&nbsp; 5.450% due 3/1/35 | 56591  |
| 52000 | &nbsp;&nbsp;&nbsp; 3.900% due 3/15/43 | 41023  |
| 130000 | &nbsp;&nbsp;&nbsp; 4.650% due 10/1/43 | 112689  |
| 29000 | &nbsp;&nbsp;&nbsp; 4.000% due 4/1/47 | 22324  |
| 638000 | &nbsp;&nbsp;&nbsp; 4.125% due 3/1/48 | 499343  |
| 181000 | &nbsp;&nbsp;&nbsp; 5.450% due 6/1/52 | 165987  |
| 233000 | &nbsp;&nbsp;&nbsp; 5.700% due 3/1/53 | 221897  |
| 75000 | &nbsp;&nbsp;&nbsp; 5.875% due 12/1/53 | 73686  |
|  | Southern California Gas Co., 1st Mortgage Notes:<br>|  |
| 4315000 | &nbsp;&nbsp;&nbsp; 5.750% due 6/1/53 | 4334769  |
| 210000 | &nbsp;&nbsp;&nbsp; 6.000% due 6/15/55 | 217890  |
|  | Southern Co. Gas Capital Corp., Company Guaranteed Notes:<br>|  |
| 49000 | &nbsp;&nbsp;&nbsp; 4.050% due 9/15/28 | 49143  |
| 410000 | &nbsp;&nbsp;&nbsp; 5.100% due 9/15/35 | 417571  |
| 47000 | Southern Co., Junior Subordinated Notes, 6.375% (5-Year CMT Index + 2.069%) due 3/15/55<sup>(d)</sup> | 49172  |
|  | Southern Co., Senior Unsecured Notes:<br>|  |
| 30000 | &nbsp;&nbsp;&nbsp; 4.850% due 6/15/28 | 30600  |
| 130000 | &nbsp;&nbsp;&nbsp; 4.850% due 3/15/35 | 129764  |
| 370000 | Southern Power Co., Senior Unsecured Notes, 4.900% due 10/1/35 | 368662  |
| 90000 | Southwestern Electric Power Co., Senior Unsecured Notes, 5.300% due 4/1/33 | 93318  |
| 255000 | Star Energy Geothermal Wayang Windu Ltd., Senior Secured Notes, 6.750% due 4/24/33 | 262400  |
| 40000 | Talen Energy Supply LLC, Company Guaranteed Notes, 6.250% due 2/1/34<sup>(c)</sup> | 40704  |
| 282000 | Trans-Allegheny Interstate Line Co., Senior Unsecured Notes, 5.000% due 1/15/31<sup>(c)</sup> | 291472  |

---

See Notes to Financial Statements.

184<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Utilities – (continued)**  | **Utilities – (continued)**  | **Utilities – (continued)**  |
|  | Virginia Electric & Power Co., Senior Unsecured Notes:<br>|  |
| $415000 | &nbsp;&nbsp;&nbsp; 5.000% due 1/15/34 | $423398  |
| 145000 | &nbsp;&nbsp;&nbsp; 5.050% due 8/15/34 | 147879  |
| 450000 | &nbsp;&nbsp;&nbsp; 4.900% due 9/15/35 | 451353  |
| 595000 | &nbsp;&nbsp;&nbsp; 4.950% due 3/15/36 | 594029  |
| 25000 | &nbsp;&nbsp;&nbsp; 4.200% due 5/15/45 | 20948  |
| 64000 | &nbsp;&nbsp;&nbsp; 5.550% due 8/15/54 | 62251  |
| 120000 | &nbsp;&nbsp;&nbsp; 5.650% due 3/15/55 | 118150  |
| 74000 | &nbsp;&nbsp;&nbsp; 5.600% due 9/15/55 | 72521  |
| 150000 | Vistra Operations Co. LLC, Company Guaranteed Notes, 4.375% due 5/1/29<sup>(c)</sup> | 148402  |
| 50000 | VoltaGrid LLC, Secured Notes, 7.375% due 11/1/30<sup>(c)</sup> | 52210  |
| 103000 | &nbsp;&nbsp;&nbsp; WEC Energy Group Inc., Junior Subordinated Notes, 5.625% <br>(5-Year CMT Index + 1.905%) due 5/15/56<sup>(d)</sup> | 103650  |
| 275000 | WEC Energy Group Inc., Senior Unsecured Notes, 4.750% due 1/15/28 | 279186  |
| 115000 | Wisconsin Power & Light Co., Senior Unsecured Notes, 5.375% due 3/30/34 | 119592  |
|  | Xcel Energy Inc., Senior Unsecured Notes:<br>|  |
| 110000 | &nbsp;&nbsp;&nbsp; 4.600% due 6/1/32 | 110818  |
| 340000 | &nbsp;&nbsp;&nbsp; 5.600% due 4/15/35 | 355387  |
|  | Total Utilities | 37586958  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL CORPORATE BONDS & NOTES** <br>**(Cost – $266,569,173)** | **267891965**  |
| **ASSET-BACKED SECURITIES – 9.7%**  | **ASSET-BACKED SECURITIES – 9.7%**  | **ASSET-BACKED SECURITIES – 9.7%**  |
| **Automobile ABS – 2.1%**  | **Automobile ABS – 2.1%**  | **Automobile ABS – 2.1%**  |
| 1000000 | Chase Auto Owner Trust, Series 2024-5A, Class A4, 4.150% due 3/25/30<sup>(c)</sup> | 1009116  |
| 1148096 | Enterprise Fleet Financing LLC, Series 2024-3, Class A2, 5.310% due 4/20/27<sup>(c)</sup> | 1151555  |
|  | Ford Credit Auto Lease Trust:<br>|  |
| 5365787 | &nbsp;&nbsp;&nbsp; Series 2024-B, Class A3, 4.990% due 12/15/27 | 5389519  |
| 1565000 | &nbsp;&nbsp;&nbsp; Series 2026-A, Class B, 4.200% due 2/15/30 | 1576201  |
|  | Ford Credit Auto Owner Trust:<br>|  |
| 3350000 | &nbsp;&nbsp;&nbsp; Series 2023-B, Class B, 5.560% due 3/15/29 | 3406901  |
| 2405000 | &nbsp;&nbsp;&nbsp; Series 2023-B, Class C, 5.710% due 12/15/30 | 2443918  |
| 4330000 | &nbsp;&nbsp;&nbsp; Series 2024-B, Class B, 5.230% due 5/15/30 | 4446221  |
|  | GM Financial Consumer Automobile Receivables Trust:<br>|  |
| 2455000 | &nbsp;&nbsp;&nbsp; Series 2023-2, Class B, 4.820% due 10/16/28 | 2476119  |
| 1500000 | &nbsp;&nbsp;&nbsp; Series 2023-2, Class C, 5.210% due 12/18/28 | 1518411  |
| 1555000 | &nbsp;&nbsp;&nbsp; Series 2023-3, Class B, 5.720% due 1/16/29 | 1582298  |
| 2290000 | &nbsp;&nbsp;&nbsp; Series 2023-3, Class C, 5.920% due 2/16/29 | 2332573  |
| 425000 | Stellantis Financial Underwritten Enhanced Lease Trust, Series 2025-CA, Class C, 4.440% due 8/20/30<sup>(c)</sup> | 427424  |
| 4197958 | Wheels Fleet Lease Funding 1 LLC, Series 2024-2A, Class A1, 4.870% due 6/21/39<sup>(c)</sup> | 4241191  |
|  | Total Automobile ABS | 32001447  |

---

See Notes to Financial Statements.

185<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **ASSET-BACKED SECURITIES – (continued)**  | **ASSET-BACKED SECURITIES – (continued)**  | **ASSET-BACKED SECURITIES – (continued)**  |
| **Credit Card ABS – 0.1%**  | **Credit Card ABS – 0.1%**  | **Credit Card ABS – 0.1%**  |
| $1430000 | Synchrony Card Funding LLC, Series 2023-A2, Class A, 5.740% due 10/15/29 | $1446336  |
| **Home Equity ABS – 1.1%**  | **Home Equity ABS – 1.1%**  | **Home Equity ABS – 1.1%**  |
| 1234311 | Asset Backed Securities Corp. Home Equity Loan Trust, Series 2007-HE2, Class A4, 4.018% (1-Month TSFR + 0.344%) due 5/25/37<sup>(d)</sup> | 896523  |
| 4001231 | C-BASS Trust, Series 2006-CB9, Class A4, 4.248% (1-Month TSFR + 0.574%) due 11/25/36<sup>(d)</sup> | 1859374  |
| 198741 | COOPR Residential Mortgage Trust, Series 2026-CES1, step bond to yield, Class A1A, 4.874% due 1/1/61<sup>(c)</sup> | 199446  |
| 3809760 | Credit-Based Asset Servicing & Securitization LLC, Series 2006-CB4, Class AV4, 2.979% (1-Month TSFR + 0.594%) due 5/25/36<sup>(d)</sup> | 2657436  |
| 160983 | FIGRE Trust, Series 2026-HE1, Class A, 4.982% due 1/25/56<sup>(c)(d)</sup> | 161733  |
| 6792493 | Merrill Lynch Mortgage Investors Trust, Series 2006-HE6, Class A1, 3.969% (1-Month TSFR + 0.394%) due 11/25/37<sup>(d)</sup> | 3296352  |
| 4000000 | New Century Home Equity Loan Trust, Series 2005-B, Class M2, 4.523% (1-Month TSFR + 0.849%) due 10/25/35<sup>(d)</sup> | 3613981  |
| 8644483 | Structured Asset Investment Loan Trust, Series 2006-4, Class A5, 4.408% (1-Month TSFR + 0.734%) due 7/25/36<sup>(d)</sup> | 3219670  |
|  | Total Home Equity ABS | 15904515  |
| **Other ABS – 5.7%**  | **Other ABS – 5.7%**  | **Other ABS – 5.7%**  |
| 2392000 | AMSR Trust, Series 2024-SFR1, Class B, step bond to yield, 4.290% due 7/17/41<sup>(c)</sup> | 2370172  |
| 440000 | Auxilior Term Funding LLC, Series 2024-1A, Class A3, 5.490% due 7/15/31<sup>(c)</sup> | 447025  |
| 750000 | Avant Loans Funding Trust, Series 2024-REV1, Class A, 5.920% due 10/15/33<sup>(c)</sup> | 752326  |
| 259692 | BHG Securitization Trust, Series 2021-B, Class B, 1.670% due 10/17/34<sup>(c)</sup> | 257986  |
| 126287 | Blue Owl Asset Leasing Trust LLC, Series 2024-1A, Class A2, 5.050% due 3/15/29<sup>(c)</sup> | 126760  |
|  | CF Hippolyta Issuer LLC:<br>|  |
| 280525 | &nbsp;&nbsp;&nbsp; Series 2020-1, Class A1, 1.690% due 7/15/60<sup>(c)</sup> | 237729  |
| 120499 | &nbsp;&nbsp;&nbsp; Series 2021-1A, Class A1, 1.530% due 3/15/61<sup>(c)</sup> | 98542  |
| 108381 | &nbsp;&nbsp;&nbsp; Series 2021-1A, Class B1, 1.980% due 3/15/61<sup>(c)</sup> | 66591  |
| 180672 | &nbsp;&nbsp;&nbsp; Series 2022-1A, Class A1, 5.970% due 8/15/62<sup>(c)</sup> | 179189  |
|  | CNH Equipment Trust:<br>|  |
| 581780 | &nbsp;&nbsp;&nbsp; Series 2024-C, Class A2A, 4.300% due 2/18/28 | 582154  |
| 2670000 | &nbsp;&nbsp;&nbsp; Series 2024-C, Class A3, 4.030% due 1/15/30 | 2679248  |
| 2335000 | &nbsp;&nbsp;&nbsp; Series 2026-A, Class A4, 4.140% due 7/15/33 | 2367753  |
| 198273 | Commercial Equipment Finance LLC, Series 2024-1A, Class A, 5.970% due 7/16/29<sup>(c)</sup> | 199733  |
|  | Compass Datacenters Issuer II LLC:<br>|  |
| 1600000 | &nbsp;&nbsp;&nbsp; Series 2024-1A, Class A1, 5.250% due 2/25/49<sup>(c)</sup> | 1610913  |
| 1210000 | &nbsp;&nbsp;&nbsp; Series 2025-2A, Class A1, 4.926% due 11/25/50<sup>(c)</sup> | 1219017  |
| 250000 | CyrusOne Data Centers Issuer I LLC, Series 2024-2A, Class A2, 4.500% due 5/20/49<sup>(c)</sup> | 246936  |

---

See Notes to Financial Statements.

186<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **ASSET-BACKED SECURITIES – (continued)**  | **ASSET-BACKED SECURITIES – (continued)**  | **ASSET-BACKED SECURITIES – (continued)**  |
| **Other ABS – (continued)**  | **Other ABS – (continued)**  | **Other ABS – (continued)**  |
| $319805 | DB Master Finance LLC, Series 2021-1A, Class A23, 2.791% due 11/20/51<sup>(c)</sup> | $290636  |
|  | Domino's Pizza Master Issuer LLC:<br>|  |
| 974400 | &nbsp;&nbsp;&nbsp; Series 2019-1A, Class A2, 3.668% due 10/25/49<sup>(c)</sup> | 953030  |
| 1248690 | &nbsp;&nbsp;&nbsp; Series 2021-1A, Class A2I, 2.662% due 4/25/51<sup>(c)</sup> | 1198920  |
| 500000 | ExteNet Issuer LLC, Series 2024-1A, Class B, 6.150% due 7/25/54<sup>(c)</sup> | 507810  |
| 1357279 | GoodLeap Sustainable Home Solutions Trust, Series 2021-5CS, Class C, 3.500% due 10/20/48<sup>(c)</sup> | 433462  |
| 368518 | Hilton Grand Vacations Trust, Series 2025-3EXT, Class B, 4.900% due 10/25/44<sup>(c)</sup> | 372187  |
|  | Home Partners of America Trust:<br>|  |
| 1575720 | &nbsp;&nbsp;&nbsp; Series 2021-1, Class D, 2.477% due 9/17/41<sup>(c)</sup> | 1446774  |
| 719773 | &nbsp;&nbsp;&nbsp; Series 2021-1, Class E, 2.577% due 9/17/41<sup>(c)</sup> | 658987  |
| 829199 | &nbsp;&nbsp;&nbsp; Series 2021-1, Class F, 3.325% due 9/17/41<sup>(c)</sup> | 757879  |
| 2324497 | Horizon Aircraft Finance III Ltd., Series 2019-2, Class A, 3.425% due 11/15/39<sup>(c)</sup> | 2277963  |
| 464600 | Horizon Aircraft Finance IV Ltd., Series 2024-1, Class A, 5.375% due 9/15/49<sup>(c)</sup> | 473758  |
|  | HPEFS Equipment Trust:<br>|  |
| 581705 | &nbsp;&nbsp;&nbsp; Series 2024-1A, Class A3, 5.180% due 5/20/31<sup>(c)</sup> | 582379  |
| 1725000 | &nbsp;&nbsp;&nbsp; Series 2024-2A, Class B, 5.350% due 10/20/31<sup>(c)</sup> | 1741190  |
|  | John Deere Owner Trust:<br>|  |
| 1950000 | &nbsp;&nbsp;&nbsp; Series 2023-B, Class A4, 5.110% due 5/15/30 | 1972338  |
| 2400000 | &nbsp;&nbsp;&nbsp; Series 2023-C, Class A4, 5.390% due 8/15/30 | 2441999  |
| 6900000 | &nbsp;&nbsp;&nbsp; Series 2024-A, Class A4, 4.910% due 2/18/31 | 7023013  |
| 3253030 | Kubota Credit Owner Trust, Series 2024-1A, Class A3, 5.190% due 7/17/28<sup>(c)</sup> | 3287454  |
| 2915000 | PFS Financing Corp., Series 2023-C, Class A, 5.520% due 10/15/28<sup>(c)</sup> | 2942702  |
| 500000 | Phantom Aviation, Series 2026-1A, Class A, 5.240% due 1/15/51<sup>(c)</sup> | 508704  |
|  | Progress Residential Trust:<br>|  |
| 233903 | &nbsp;&nbsp;&nbsp; Series 2022-SFR5, Class A, 4.451% due 6/17/39<sup>(c)</sup> | 233840  |
| 1052527 | &nbsp;&nbsp;&nbsp; Series 2022-SFR6, Class A, 4.451% due 7/20/39<sup>(c)</sup> | 1053441  |
| 539258 | &nbsp;&nbsp;&nbsp; Series 2023-SFR1, Class A, 4.300% due 3/17/40<sup>(c)</sup> | 540082  |
| 464644 | &nbsp;&nbsp;&nbsp; Series 2024-SFR2, Class A, 3.300% due 4/17/41<sup>(c)</sup> | 451819  |
| 750000 | &nbsp;&nbsp;&nbsp; Series 2025-SFR4, Class A, 4.300% due 8/17/42<sup>(c)</sup> | 749517  |
| 295000 | &nbsp;&nbsp;&nbsp; Series 2026-SFR1, Class B, 4.000% due 2/17/43<sup>(c)</sup> | 286289  |
|  | Retained Vantage Data Centers Issuer LLC:<br>|  |
| 1040000 | &nbsp;&nbsp;&nbsp; Series 2023-1A, Class A2A, 5.000% due 9/15/48<sup>(c)</sup> | 1041897  |
| 500000 | &nbsp;&nbsp;&nbsp; Series 2023-1A, Class B, 5.750% due 9/15/48<sup>(c)</sup> | 500555  |
| 560000 | &nbsp;&nbsp;&nbsp; Series 2024-1A, Class A2, 4.992% due 9/15/49<sup>(c)</sup> | 560938  |
| 165000 | Sabey Data Center Issuer LLC, Series 2024-1, Class A2, 6.000% due 4/20/49<sup>(c)</sup> | 166722  |
| 285000 | SCF Equipment Leasing LLC, Series 2024-1A, Class A3, 5.520% due 1/20/32<sup>(c)</sup> | 290932  |

---

See Notes to Financial Statements.

187<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **ASSET-BACKED SECURITIES – (continued)**  | **ASSET-BACKED SECURITIES – (continued)**  | **ASSET-BACKED SECURITIES – (continued)**  |
| **Other ABS – (continued)**  | **Other ABS – (continued)**  | **Other ABS – (continued)**  |
|  | Stack Infrastructure Issuer LLC:<br>|  |
| $590000 | &nbsp;&nbsp;&nbsp; Series 2023-2A, Class A2, 5.900% due 7/25/48<sup>(c)</sup> | $592021  |
| 320000 | &nbsp;&nbsp;&nbsp; Series 2024-1A, Class A2, 5.900% due 3/25/49<sup>(c)</sup> | 323858  |
| 3500000 | STAR Trust, Series 2021-SFR1, Class G, 6.974% (1-Month TSFR + 3.314%) due 4/17/38<sup>(c)(d)</sup> | 3501463  |
| 493750 | Subway Funding LLC, Series 2024-1A, Class A23, 6.505% due 7/30/54<sup>(c)</sup> | 511307  |
| 1554225 | Sunrun Demeter Issuer LLC, Series 2021-2A, Class A, 2.270% due 1/30/57<sup>(c)</sup> | 1427597  |
| 1000000 | Switch ABS Issuer LLC, Series 2024-2A, Class B, 6.200% due 6/25/54<sup>(c)</sup> | 1005035  |
| 1473750 | Taco Bell Funding LLC, Series 2021-1A, Class A23, 2.542% due 8/25/51<sup>(c)</sup> | 1317903  |
|  | T-Mobile US Trust:<br>|  |
| 2300000 | &nbsp;&nbsp;&nbsp; Series 2024-1A, Class A, 5.050% due 9/20/29<sup>(c)</sup> | 2310009  |
| 6000000 | &nbsp;&nbsp;&nbsp; Series 2024-2A, Class A, 4.250% due 5/21/29<sup>(c)</sup> | 6030187  |
|  | Tricon Residential Trust:<br>|  |
| 891538 | &nbsp;&nbsp;&nbsp; Series 2025-SFR2, Class A, 5.200% due 8/17/44<sup>(c)</sup> | 913245  |
| 555000 | &nbsp;&nbsp;&nbsp; Series 2026-SFR1, Class A, 4.771% (1-Month TSFR + 1.100%) due 2/17/43<sup>(c)(d)</sup> | 555693  |
| 425000 | Upstart Securitization Trust, Series 2025-4, Class A2, 4.560% due 11/20/35<sup>(c)</sup> | 425754  |
| 670000 | VB-S1 Issuer LLC - VBTEL, Series 2024-1A, Class C2, 5.590% due 5/15/54<sup>(c)</sup> | 677795  |
|  | Verizon Master Trust:<br>|  |
| 2915000 | &nbsp;&nbsp;&nbsp; Series 2024-7, Class B, 4.600% due 8/20/32<sup>(c)</sup> | 2963586  |
| 2695000 | &nbsp;&nbsp;&nbsp; Series 2024-8, Class B, 4.820% due 11/20/30 | 2739436  |
| 1055000 | &nbsp;&nbsp;&nbsp; Series 2024-8, Class C, 4.990% due 11/20/30 | 1072789  |
| 1970000 | &nbsp;&nbsp;&nbsp; Series 2025-1, Class B, 4.940% due 1/21/31 | 2005062  |
| 5834000 | &nbsp;&nbsp;&nbsp; Series 2025-9, Class B, 4.240% due 10/21/30 | 5859028  |
| 936050 | Wendy's Funding LLC, Series 2022-1A, Class A2I, 4.236% due 3/15/52<sup>(c)</sup> | 931223  |
| 985000 | Wingstop Funding LLC, Series 2020-1A, Class A2, 2.841% due 12/5/50<sup>(c)</sup> | 958386  |
| 685000 | Zayo Issuer LLC, Series 2025-1A, Class A2, 5.648% due 3/20/55<sup>(c)</sup> | 700538  |
|  | Total Other ABS | 86011206  |
| **Student Loan ABS – 0.1%**  | **Student Loan ABS – 0.1%**  | **Student Loan ABS – 0.1%**  |
|  | Navient Private Education Refi Loan Trust:<br>|  |
| 254225 | &nbsp;&nbsp;&nbsp; Series 2021-EA, Class A, 0.970% due 12/16/69<sup>(c)</sup> | 232191  |
| 403385 | &nbsp;&nbsp;&nbsp; Series 2021-FA, Class A, 1.110% due 2/18/70<sup>(c)</sup> | 366152  |
| 941145 | Sofi Professional Loan Program Trust, Series 2018-B, Class BFX, 3.830% due 8/25/47<sup>(c)</sup> | 920843  |
|  | Total Student Loan ABS | 1519186  |
| **WL Collateral CMO – 0.6%**  | **WL Collateral CMO – 0.6%**  | **WL Collateral CMO – 0.6%**  |
| 4697666 | &nbsp;&nbsp;&nbsp; First Franklin Mortgage Loan Trust, Series 2007-FF2, Class A1, 4.068% <br>(1-Month TSFR + 0.394%) due 3/25/37<sup>(d)</sup> | 2528805  |

---

See Notes to Financial Statements.

188<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **ASSET-BACKED SECURITIES – (continued)**  | **ASSET-BACKED SECURITIES – (continued)**  | **ASSET-BACKED SECURITIES – (continued)**  |
| **WL Collateral CMO – (continued)**  | **WL Collateral CMO – (continued)**  | **WL Collateral CMO – (continued)**  |
|  | PRET LLC:<br>|  |
| $1229089 | &nbsp;&nbsp;&nbsp; Series 2025-NPL11, Class A1, step bond to yield, 5.193% due 10/25/55<sup>(c)</sup> | $1231609  |
| 623269 | &nbsp;&nbsp;&nbsp; Series 2025-NPL14, Class A1, step bond to yield, 5.265% due 12/25/55<sup>(c)</sup> | 617160  |
| 993962 | &nbsp;&nbsp;&nbsp; Series 2025-NPL6, Class A1, step bond to yield, 5.744% due 6/25/55<sup>(c)</sup> | 997076  |
| 1552664 | &nbsp;&nbsp;&nbsp; Series 2025-NPL7, Class A1, step bond to yield, 5.657% due 7/25/55<sup>(c)</sup> | 1558131  |
| 606133 | &nbsp;&nbsp;&nbsp; Series 2025-NPL8, Class A1, step bond to yield, 5.732% due 8/25/55<sup>(c)</sup> | 608404  |
| 222713 | &nbsp;&nbsp;&nbsp; Series 2026-NPL1, Class A1, step bond to yield, 5.180% due 1/25/56<sup>(c)</sup> | 222759  |
| 1175000 | &nbsp;&nbsp;&nbsp; Series 2026-NPL2, Class A1, step bond to yield, 5.151% due 2/25/56<sup>(c)</sup> | 1175662  |
| 103118 | VOLT CII LLC, Series 2021-NP11, Class A1, step bond to yield, 5.868% due 8/25/51<sup>(c)</sup> | 103141  |
| 28788 | VOLT XCV LLC, Series 2021-NPL4, Class A1, step bond to yield, 6.240% due 3/27/51<sup>(c)</sup> | 28798  |
|  | Total WL Collateral CMO | 9071545  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL ASSET-BACKED SECURITIES** <br>**(Cost – $154,326,658)** | **145954235**  |
| **COLLATERALIZED LOAN OBLIGATIONS – 1.7%**  | **COLLATERALIZED LOAN OBLIGATIONS – 1.7%**  | **COLLATERALIZED LOAN OBLIGATIONS – 1.7%**  |
| **Commercial MBS – 0.4%**  | **Commercial MBS – 0.4%**  | **Commercial MBS – 0.4%**  |
| 350000 | Acore Issuer LLC, Series 2026-FL1, Class A, 5.150% (1-Month TSFR + 1.450%) due 8/20/43<sup>(c)(d)</sup> | 350335  |
| 190000 | ACRES LLC, Series 2025-FL3, Class A, 5.283% (1-Month TSFR + 1.619%) due 8/18/40<sup>(c)(d)</sup> | 190702  |
| 260000 | Arbor Realty Commercial Real Estate Notes LLC, Series 2025-FL1, Class A, 5.021% (1-Month TSFR + 1.354%) due 1/20/43<sup>(c)(d)</sup> | 260023  |
| 640000 | AREIT, Series 2025-CRE11, Class A, 5.210% (1-Month TSFR + 1.550%) due 7/25/43<sup>(c)(d)</sup> | 641264  |
| 21091 | AREIT Ltd., Series 2024-CRE9, Class A, 5.346% (1-Month TSFR + 1.686%) due 5/17/41<sup>(c)(d)</sup> | 21143  |
| 360000 | BDS LLC, Series 2024-FL13, Class A, 5.242% (1-Month TSFR + 1.576%) due 9/19/39<sup>(c)(d)</sup> | 361131  |
|  | BRSP Ltd.:<br>|  |
| 357000 | &nbsp;&nbsp;&nbsp; Series 2024-FL2, Class A, 5.612% (1-Month TSFR + 1.945%) due 8/19/37<sup>(c)(d)</sup> | 357447  |
| 410000 | &nbsp;&nbsp;&nbsp; Series 2026-FL3, Class A, 5.150% (1-Month TSFR + 1.450%) due 8/19/43<sup>(c)(d)</sup> | 410227  |
| 410000 | BXMT Ltd., Series 2026-FL6, Class A, 5.150% (1-Month TSFR + 1.450%) due 8/19/43<sup>(c)(d)</sup> | 410256  |
| 150947 | FS Rialto, Series 2021-FL2, Class A, 4.994% (1-Month TSFR + 1.334%) due 5/16/38<sup>(c)(d)</sup> | 151537  |
| 390000 | &nbsp;&nbsp;&nbsp; FS Rialto Issuer LLC, Series 2026-FL11, Class A, 0.000% <br>(1-Month TSFR + 1.450%) due 1/19/44<sup>#(c)(d)</sup> | 391341  |
| 298716 | GPMT Ltd., Series 2021-FL4, Class A, 5.138% (1-Month TSFR + 1.464%) due 12/15/36<sup>(c)(d)</sup> | 297994  |
| 31588 | &nbsp;&nbsp;&nbsp; Greystone CRE Notes Ltd., Series 2021-FL3, Class A, 4.799% <br>(1-Month TSFR + 1.134%) due 7/15/39<sup>(c)(d)</sup> | 31571  |

---

See Notes to Financial Statements.

189<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **COLLATERALIZED LOAN OBLIGATIONS – (continued)**  | **COLLATERALIZED LOAN OBLIGATIONS – (continued)**  | **COLLATERALIZED LOAN OBLIGATIONS – (continued)**  |
| **Commercial MBS – (continued)**  | **Commercial MBS – (continued)**  | **Commercial MBS – (continued)**  |
| $89153 | KREF Ltd., Series 2021-FL2, Class A, 4.849% (1-Month TSFR + 1.184%) due 2/15/39<sup>(c)(d)</sup> | $89127  |
| 320000 | LoanCore 2025 Issuer LLC, Series 2025-CRE8, Class A, 5.045% (1-Month TSFR + 1.385%) due 8/17/42<sup>(c)(d)</sup> | 320629  |
| 360000 | MF1, Series 2024-FL15, Class A, 5.352% (1-Month TSFR + 1.688%) due 8/18/41<sup>(c)(d)</sup> | 361335  |
|  | MF1 LLC:<br>|  |
| 211822 | &nbsp;&nbsp;&nbsp; Series 2022-FL9, Class A, 5.817% (1-Month TSFR + 2.150%) due 6/19/37<sup>(c)(d)</sup> | 211821  |
| 320000 | &nbsp;&nbsp;&nbsp; Series 2025-FL17, Class A, 4.984% (1-Month TSFR + 1.320%) due 2/18/40<sup>(c)(d)</sup> | 320178  |
| 420000 | &nbsp;&nbsp;&nbsp; Series 2026-FL21, Class ASFX, 5.123% due 2/18/41<sup>(c)</sup> | 425517  |
|  | MF1 Ltd.:<br>|  |
| 70098 | &nbsp;&nbsp;&nbsp; Series 2021-FL7, Class A, 4.861% (1-Month TSFR + 1.194%) due 10/16/36<sup>(c)(d)</sup> | 70057  |
| 53396 | &nbsp;&nbsp;&nbsp; Series 2022-FL8, Class A, 5.017% (1-Month TSFR + 1.350%) due 2/19/37<sup>(c)(d)</sup> | 53385  |
| 410000 | PFP Ltd., Series 2026-13, Class A, 5.166% (1-Month TSFR + 1.500%) due 8/18/43<sup>(c)(d)</sup> | 411667  |
| 243290 | STWD Ltd., Series 2021-FL2, Class A, 4.981% (1-Month TSFR + 1.314%) due 4/18/38<sup>(c)(d)</sup> | 241335  |
| 183454 | TRTX Issuer Ltd., Series 2022-FL5, Class A, 5.314% (1-Month TSFR + 1.650%) due 2/15/39<sup>(c)(d)</sup> | 182804  |
|  | Total Commercial MBS | 6562826  |
| **Other ABS – 1.3%**  | **Other ABS – 1.3%**  | **Other ABS – 1.3%**  |
| 500000 | Apidos CLO XXXIX Ltd., Series 2022-39A, Class A1R, 4.900% (3-Month TSFR + 1.230%) due 10/21/38<sup>(c)(d)</sup> | 500496  |
| 500000 | Balboa Bay Loan Funding Ltd., Series 2025-2A, Class A1, 4.981% (3-Month TSFR + 1.250%) due 1/20/39<sup>(c)(d)</sup> | 499751  |
| 835000 | Barings CLO Ltd., Series 2024-1A, Class B, 5.768% (3-Month TSFR + 2.100%) due 1/20/37<sup>(c)(d)</sup> | 838358  |
| 500000 | Benefit Street Partners CLO XXXII Ltd., Series 2023-32A, Class AR, 4.878% (3-Month TSFR + 1.210%) due 10/25/38<sup>(c)(d)</sup> | 500497  |
| 500000 | &nbsp;&nbsp;&nbsp; Brant Point CLO Ltd., Series 2024-5A, Class D1, 6.768% <br>(3-Month TSFR + 3.100%) due 10/20/37<sup>(c)(d)</sup> | 502689  |
| 500000 | &nbsp;&nbsp;&nbsp; Carlyle US CLO, Series 2024-4A, Class D, 6.868% <br>(3-Month TSFR + 3.200%) due 7/20/37<sup>(c)(d)</sup> | 502597  |
| 500000 | &nbsp;&nbsp;&nbsp; Carlyle US CLO Ltd., Series 2018-4A, Class D1R, 6.768% <br>(3-Month TSFR + 3.100%) due 10/17/37<sup>(c)(d)</sup> | 502691  |
| 1495000 | CBAM Ltd., Series 2017-2A, Class BR, 5.779% (3-Month TSFR + 2.112%) due 7/17/34<sup>(c)(d)</sup> | 1498737  |
| 1000000 | &nbsp;&nbsp;&nbsp; Cedar Funding XIX CLO Ltd., Series 2024-19A, Class D1, 6.671% <br>(3-Month TSFR + 3.000%) due 1/23/38<sup>(c)(d)</sup> | 999975  |
| 500000 | &nbsp;&nbsp;&nbsp; CIFC Funding Ltd., Series 2018-2A, Class D1R, 6.718% <br>(3-Month TSFR + 3.050%) due 10/20/37<sup>(c)(d)</sup> | 504069  |

---

See Notes to Financial Statements.

190<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **COLLATERALIZED LOAN OBLIGATIONS – (continued)**  | **COLLATERALIZED LOAN OBLIGATIONS – (continued)**  | **COLLATERALIZED LOAN OBLIGATIONS – (continued)**  |
| **Other ABS – (continued)**  | **Other ABS – (continued)**  | **Other ABS – (continued)**  |
|  | Clover CLO LLC:<br>|  |
| $500000 | &nbsp;&nbsp;&nbsp; Series 2018-1A, Class A1RR, 5.198% (3-Month TSFR + 1.530%) due 4/20/37<sup>(c)(d)</sup> | $502255  |
| 500000 | &nbsp;&nbsp;&nbsp; Series 2021-3A, Class DR, 6.218% (3-Month TSFR + 2.550%) due 1/25/35<sup>(c)(d)</sup> | 494082  |
| 500000 | Eldridge CLO Ltd., Series 2025-1A, Class A1, 5.250% (3-Month TSFR + 1.330%) due 10/20/38<sup>(c)(d)</sup> | 501042  |
| 655000 | &nbsp;&nbsp;&nbsp; Elmwood CLO 23 Ltd., Series 2023-2A, Class BR, 5.421% <br>(3-Month TSFR + 1.750%) due 4/16/36<sup>(c)(d)</sup> | 656164  |
| 500000 | &nbsp;&nbsp;&nbsp; Empower CLO Ltd., Series 2023-2A, Class AR, 4.992% <br>(3-Month TSFR + 1.320%) due 10/15/38<sup>(c)(d)</sup> | 501263  |
| 500000 | &nbsp;&nbsp;&nbsp; Jamestown CLO XII Ltd., Series 2019-1A, Class ARR, 5.038% <br>(3-Month TSFR + 1.370%) due 3/20/38<sup>(c)(d)</sup> | 501778  |
| 364191 | LCM XV LP, Series 15A, Class DR, 7.629% (3-Month TSFR + 3.962%) due 7/20/30<sup>(c)(d)</sup> | 365285  |
| 500000 | &nbsp;&nbsp;&nbsp; Magnetite XXIII Ltd., Series 2019-23A, Class AR2, 4.637% <br>(3-Month TSFR + 0.990%) due 1/25/35<sup>(c)(d)</sup> | 500123  |
| 500000 | &nbsp;&nbsp;&nbsp; Magnetite XXXV Ltd., Series 2022-35A, Class A1RR, 4.918% <br>(3-Month TSFR + 1.200%) due 1/25/39<sup>(c)(d)</sup> | 499650  |
| 500000 | Octagon Investment Partners 51 Ltd., Series 2021-1A, Class AR, 4.658% (3-Month TSFR + 0.990%) due 7/20/34<sup>(c)(d)</sup> | 499750  |
| 1000000 | &nbsp;&nbsp;&nbsp; OHA Credit Funding 2 Ltd., Series 2019-2A, Class D1R2, 6.370% <br>(3-Month TSFR + 2.700%) due 1/21/38<sup>(c)(d)</sup> | 996776  |
|  | Palmer Square Loan Funding Ltd.:<br>|  |
| 870000 | &nbsp;&nbsp;&nbsp; Series 2024-1A, Class A2R, 4.810% (3-Month TSFR + 1.150%) due 10/15/32<sup>(c)(d)</sup> | 870155  |
| 893000 | &nbsp;&nbsp;&nbsp; Series 2025-3A, Class A1, 4.660% (3-Month TSFR + 0.950%) due 1/15/34<sup>(c)(d)</sup> | 892632  |
| 500000 | &nbsp;&nbsp;&nbsp; Point Au Roche Park CLO Ltd., Series 2021-1A, Class AR, 4.829% <br>(3-Month TSFR + 1.170%) due 1/20/39<sup>(c)(d)</sup> | 499458  |
| 500000 | &nbsp;&nbsp;&nbsp; Shackleton CLO Ltd., Series 2013-3A, Class DR, 6.954% <br>(3-Month TSFR + 3.282%) due 7/15/30<sup>(c)(d)</sup> | 500534  |
| 500000 | &nbsp;&nbsp;&nbsp; Sound Point CLO VI-R Ltd., Series 2014-2RA, Class B, 5.729% <br>(3-Month TSFR + 2.062%) due 10/20/31<sup>(c)(d)</sup> | 502038  |
| 1000000 | &nbsp;&nbsp;&nbsp; Trestles CLO IV Ltd., Series 2021-4A, Class AR1, 5.071% <br>(3-Month TSFR + 1.280%) due 10/30/38<sup>(c)(d)</sup> | 1001933  |
| 1710000 | &nbsp;&nbsp;&nbsp; Venture 42 CLO Ltd., Series 2021-42A, Class A1A, 5.064% <br>(3-Month TSFR + 1.392%) due 4/15/34<sup>(c)(d)</sup> | 1711945  |
| 500000 | &nbsp;&nbsp;&nbsp; Voya CLO Ltd., Series 2023-1A, Class A1R, 4.878% <br>(3-Month TSFR + 1.210%) due 1/20/39<sup>(c)(d)</sup> | 502651  |
|  | Total Other ABS | 19349374  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL COLLATERALIZED LOAN OBLIGATIONS** <br>**(Cost – $25,852,899)** | **25912200**  |

---

See Notes to Financial Statements.

191<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **SOVEREIGN BONDS – 0.7%**  | **SOVEREIGN BONDS – 0.7%**  | **SOVEREIGN BONDS – 0.7%**  |
| **Bermuda – 0.1%**  | **Bermuda – 0.1%**  | **Bermuda – 0.1%**  |
| $890000 | Bermuda Government International Bond, 2.375% due 8/20/30 | $815818  |
| **Brazil – 0.0%**  | **Brazil – 0.0%**  | **Brazil – 0.0%**  |
| 200000 | Brazilian Government International Bond, 4.750% due 1/14/50 | 149770  |
| **Canada – 0.1%**  | **Canada – 0.1%**  | **Canada – 0.1%**  |
| 1845000 | Province of Ontario Canada, 4.450% due 11/20/35 | 1877528  |
| **Colombia – 0.0%**  | **Colombia – 0.0%**  | **Colombia – 0.0%**  |
| 200000 | Colombia Government International Bond, 4.125% due 5/15/51 | 124909  |
| **Dominican Republic – 0.0%**  | **Dominican Republic – 0.0%**  | **Dominican Republic – 0.0%**  |
| 150000 | Dominican Republic International Bond, 5.750% due 3/17/34<sup>(c)</sup> | 149925  |
| **Hungary – 0.0%**  | **Hungary – 0.0%**  | **Hungary – 0.0%**  |
| 435000 | Hungary Government International Bond, 5.500% due 3/26/36<sup>(c)</sup> | 441168  |
| **Israel – 0.1%**  | **Israel – 0.1%**  | **Israel – 0.1%**  |
|  | Israel Government International Bond:<br>|  |
| 280000 | &nbsp;&nbsp;&nbsp; 5.375% due 3/12/29 | 288406  |
| 300000 | &nbsp;&nbsp;&nbsp; 5.375% due 2/19/30 | 310420  |
| 200000 | &nbsp;&nbsp;&nbsp; 2.750% due 7/3/30 | 187023  |
| 200000 | State of Israel, 3.800% due 5/13/60 | 137389  |
|  | Total Israel | 923238  |
| **Mexico – 0.2%**  | **Mexico – 0.2%**  | **Mexico – 0.2%**  |
|  | Mexico Government International Bond:<br>|  |
| 1135000 | &nbsp;&nbsp;&nbsp; 5.375% due 3/22/33 | 1133922  |
| 340000 | &nbsp;&nbsp;&nbsp; 5.625% due 2/9/34 | 342968  |
| 210000 | &nbsp;&nbsp;&nbsp; 3.500% due 2/12/34 | 183414  |
| 425000 | &nbsp;&nbsp;&nbsp; 5.625% due 9/22/35 | 423725  |
| 555000 | &nbsp;&nbsp;&nbsp; 6.000% due 5/7/36 | 568181  |
| 355000 | &nbsp;&nbsp;&nbsp; 6.875% due 5/13/37 | 382601  |
| 300000 | &nbsp;&nbsp;&nbsp; 6.338% due 5/4/53 | 290970  |
|  | Total Mexico | 3325781  |
| **Morocco – 0.0%**  | **Morocco – 0.0%**  | **Morocco – 0.0%**  |
| 200000 | Morocco Government International Bond, 4.000% due 12/15/50 | 147119  |
| **Panama – 0.0%**  | **Panama – 0.0%**  | **Panama – 0.0%**  |
| 250000 | Panama Government International Bond, 2.252% due 9/29/32 | 210237  |
| **Romania – 0.1%**  | **Romania – 0.1%**  | **Romania – 0.1%**  |
|  | Romanian Government International Bond:<br>|  |
| 300000 | &nbsp;&nbsp;&nbsp; 5.875% due 1/30/29<sup>(c)</sup> | 311434  |
| 1130000 | &nbsp;&nbsp;&nbsp; 3.625% due 3/27/32 | 1049793  |
|  | Total Romania | 1361227  |
| **Saudi Arabia – 0.1%**  | **Saudi Arabia – 0.1%**  | **Saudi Arabia – 0.1%**  |
| 500000 | Saudi Government International Bond, 5.875% due 1/12/56<sup>(c)</sup> | 502191  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL SOVEREIGN BONDS** <br>**(Cost – $9,901,368)** | **10028911**  |

---

See Notes to Financial Statements.

192<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **SENIOR LOANS<sup>(d)</sup> – 0.3%**  | **SENIOR LOANS<sup>(d)</sup> – 0.3%**  | **SENIOR LOANS<sup>(d)</sup> – 0.3%**  |
| **Canada – 0.0%**  | **Canada – 0.0%**  | **Canada – 0.0%**  |
| $9950 | 1261229 BC Ltd., 9.923% (1-Month USD-SOFR + 0.625%) due 10/8/30 | $9679  |
| 84600 | Bausch + Lomb Corp., 7.423% (1-Month USD-SOFR + 0.375%) due 1/15/31 | 84558  |
| 80000 | Green Infrastructure Partners Inc., 6.422% (3-Month USD-SOFR + 0.275%) due 9/24/32 | 79850  |
| 21380 | Ontario Gaming GTA LP, 7.922% (3-Month USD-SOFR + 0.425%) due 8/1/30 | 20108  |
|  | Total Canada | 194195  |
| **Cayman Islands – 0.0%**  | **Cayman Islands – 0.0%**  | **Cayman Islands – 0.0%**  |
| 34738 | AAdvantage Loyality IP Ltd., 6.418% (3-Month USD-SOFR + 0.275%) due 5/28/32 | 34727  |
| **Denmark – 0.0%**  | **Denmark – 0.0%**  | **Denmark – 0.0%**  |
| 25000 | Genmab AS, 6.733% (3-Month USD-SOFR + 0.300%) due 12/10/32 | 25090  |
| **France – 0.0%**  | **France – 0.0%**  | **France – 0.0%**  |
| 44876 | Altice France SA, 10.547% (3-Month USD-SOFR + 0.688%) due 5/31/31 | 44921  |
| **Germany – 0.0%**  | **Germany – 0.0%**  | **Germany – 0.0%**  |
| 24875 | MV Holding GmbH, 5.673% (1-Month USD-SOFR + 0.200%) due 3/17/32 | 24875  |
| **Netherlands – 0.0%**  | **Netherlands – 0.0%**  | **Netherlands – 0.0%**  |
| 54500 | GBT US III LLC, 5.668% (3-Month USD-SOFR + 0.200%) due 7/25/31 | 51993  |
| 25000 | Lavender Dutch BorrowerCo BV, 6.935% (3-Month USD-SOFR + 0.325%) due 12/30/32 | 24937  |
|  | Total Netherlands | 76930  |
| **United Kingdom – 0.0%**  | **United Kingdom – 0.0%**  | **United Kingdom – 0.0%**  |
| 44663 | Ardonagh Midco 3 Ltd., 6.373% (6-Month USD-SOFR + 0.275%) due 2/15/31 | 43658  |
| 60000 | EG Finco Ltd., due 2/10/31<sup>(j)</sup> | 59865  |
| 70000 | Froneri International Ltd., 5.877% (6-Month USD-SOFR + 0.225%) due 9/30/32 | 68318  |
| 9676 | Ineos Quattro Holdings UK Ltd., 7.923% (1-Month USD-SOFR + 0.425%) due 10/7/31 | 7370  |
| 19950 | Motion Acquisition Ltd., 7.172% (3-Month USD-SOFR + 0.350%) due 11/12/29 | 16778  |
| 15000 | Project Aurora Holdco 1 Ltd., 6.490% (3-Month USD-SOFR + 0.275%) due 12/6/32 | 15009  |
|  | Total United Kingdom | 210998  |
| **United States – 0.3%**  | **United States – 0.3%**  | **United States – 0.3%**  |
| 94761 | Acrisure LLC, 6.673% (1-Month USD-SOFR + 0.300%) due 11/6/30 | 91610  |
| 27893 | ADMI Corp., 7.537% (1-Month USD-SOFR + 0.375%) due 12/23/27 | 26498  |
| 34913 | Alera Group Inc., 6.423% (1-Month USD-SOFR + 0.275%) due 5/30/32 | 33162  |
| 25000 | Alkermes Inc., 6.423% (1-Month USD-SOFR + 0.275%) due 8/12/31 | 24938  |
| 34913 | Allied Universal Holdco LLC, 6.923% (1-Month USD-SOFR + 0.325%) due 8/20/32 | 34891  |
| 20000 | Alterra Mountain Co., 6.173% (1-Month USD-SOFR + 0.250%) due 8/17/28 | 19983  |

---

See Notes to Financial Statements.

193<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **SENIOR LOANS<sup>(d)</sup> – (continued)**  | **SENIOR LOANS<sup>(d)</sup> – (continued)**  | **SENIOR LOANS<sup>(d)</sup> – (continued)**  |
| **United States – (continued)**  | **United States – (continued)**  | **United States – (continued)**  |
| $25000 | &nbsp;&nbsp;&nbsp; American Axle & Manufacturing Inc., 6.910% (1-Month USD-SOFR + 0.325%) <br>due 2/3/33 | $24860  |
| 9950 | AmWINS Group Inc., 5.673% (1-Month USD-SOFR + 0.200%) due 1/30/32 | 9834  |
| 20000 | Applied Systems Inc., 8.172% (3-Month USD-SOFR + 0.450%) due 2/23/32 | 19675  |
| 43875 | Apro LLC, 7.410% (1-Month USD-SOFR + 0.375%) due 7/9/31 | 43996  |
| 24300 | Aspire Bakeries Holdings LLC, 6.673% (1-Month USD-SOFR + 0.300%) due 12/23/30 | 24330  |
|  | Asurion LLC:<br>|  |
| 3925 | &nbsp;&nbsp;&nbsp; 9.037% (1-Month USD-SOFR + 0.525%) due 1/20/29 | 3923  |
| 19937 | &nbsp;&nbsp;&nbsp; 7.923% (1-Month USD-SOFR + 0.425%) due 9/19/30 | 19873  |
| 20000 | athenahealth Group Inc., due 2/15/29<sup>(j)</sup> | 19450  |
| 34913 | Aveanna Healthcare LLC, 7.423% (1-Month USD-SOFR + 0.375%) due 9/17/32 | 34758  |
| 35000 | Azuria Water Solutions Inc., due 1/27/33<sup>(j)</sup> | 34497  |
| 30000 | Biomarin Pharmaceutical Inc., due 1/28/33<sup>(j)</sup> | 29938  |
| 29925 | Blackfin Pipeline LLC, 6.688% (1-Month USD-SOFR + 0.300%) due 9/29/32 | 30047  |
| 30000 | Boots Group Finco LP, 6.956% (3-Month USD-SOFR + 0.325%) due 8/30/32 | 30013  |
| 40000 | BradyPLUS Holdings LLC, 7.190% (3-Month USD-SOFR + 0.350%) due 12/29/32 | 39625  |
| 89886 | Caesars Entertainment Inc., 5.923% (1-Month USD-SOFR + 0.225%) due 2/6/31 | 88942  |
| 20000 | Camelot US Acquisition LLC, 6.423% (1-Month USD-SOFR + 0.275%) due 1/31/31 | 16833  |
| 44327 | Cengage Learning Inc., 6.671% (1-Month USD-SOFR + 0.300%) due 3/24/31 | 43153  |
| 40000 | Chariot Buyer LLC, due 9/8/32<sup>(j)</sup> | 39836  |
| 9975 | Cloud Software Group Inc., due 8/13/32<sup>(j)</sup> | 9232  |
| 45000 | Columbus McKinnon Corp., 7.160% (3-Month USD-SOFR + 0.350%) due 2/3/33 | 44831  |
| 15000 | CompoSecure Holdings LLC, 5.910% (1-Month USD-SOFR + 0.225%) due 1/14/33 | 14906  |
| 19800 | &nbsp;&nbsp;&nbsp; Corpay Technologies Operating Co. LLC, 5.423% <br>(1-Month USD-SOFR + 0.175%) due 4/28/28 | 19768  |
| 44738 | Cotiviti Inc., 6.421% (1-Month USD-SOFR + 0.275%) due 3/26/32 | 39523  |
| 4987 | CPI Holdco B LLC, 5.673% (1-Month USD-SOFR + 0.200%) due 5/17/31 | 4929  |
| 44626 | Crown Finance US Inc., 8.171% (1-Month USD-SOFR + 0.450%) due 12/2/31 | 43295  |
| 8210 | CSC Holdings LLC, 8.250% (3-Month Prime Rate + 0.150%) due 4/15/27 | 7081  |
| 27565 | Cyxtera DC Holdings, Inc, 0.000% (3-Month USD-SOFR + 0.300%) due 6/12/25<sup>#(k)</sup> | —  |
| 95000 | Dayforce Bidco LLC, due 2/4/33<sup>(j)</sup> | 87333  |
| 45000 | &nbsp;&nbsp;&nbsp; DG Investment Intermediate Holdings 2 Inc., 6.923% <br>(1-Month USD-SOFR + 0.325%) due 7/9/32 | 44916  |

---

See Notes to Financial Statements.

194<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **SENIOR LOANS<sup>(d)</sup> – (continued)**  | **SENIOR LOANS<sup>(d)</sup> – (continued)**  | **SENIOR LOANS<sup>(d)</sup> – (continued)**  |
| **United States – (continued)**  | **United States – (continued)**  | **United States – (continued)**  |
| $3730 | DIRECTV Financing LLC, 8.928% (3-Month USD-SOFR + 0.500%) due 8/2/27 | $3730  |
| 5000 | Dycom Industries Inc., 5.420% (3-Month USD-SOFR + 0.175%) due 1/27/33 | 5019  |
| 53639 | Eagle Parent Corp., 7.922% (3-Month USD-SOFR + 0.425%) due 4/2/29 | 53584  |
| 10000 | &nbsp;&nbsp;&nbsp; Edelman Financial Engines Center LLC, 8.923% <br>(1-Month USD-SOFR + 0.525%) due 10/6/28 | 9892  |
| 25000 | Eisner Advisory Group LLC, 7.673% (1-Month USD-SOFR + 0.400%) due 2/28/31 | 24208  |
| 24688 | EMRLD Borrower LP, 6.122% (6-Month USD-SOFR + 0.225%) due 8/4/31 | 24572  |
| 14822 | First Advantage Holdings LLC, due 10/31/31<sup>(j)</sup> | 14163  |
| 64925 | Focus Financial Partners LLC, 6.173% (1-Month USD-SOFR + 0.250%) due 9/15/31 | 61110  |
| 50000 | Freeport LNG investments LLLP, 6.893% (3-Month USD-SOFR + 0.325%) due 2/11/33 | 49594  |
| 77404 | Gainwell Acquisition Corp., 7.772% (3-Month USD-SOFR + 0.400%) due 10/1/27 | 73244  |
| 9937 | Golden State Foods LLC, 7.171% (3-Month USD-SOFR + 0.350%) due 12/4/31 | 9932  |
| 89913 | Grant Thornton Advisors LLC, 6.423% (1-Month USD-SOFR + 0.275%) due 6/2/31 | 83233  |
| 15000 | Herc Holdings Inc., 5.410% (1-Month USD-SOFR + 0.175%) due 6/2/32 | 15019  |
| 24755 | Hexion Inc., 7.677% (1-Month USD-SOFR + 0.400%) due 3/15/29 | 24256  |
| 54725 | HighTower Holding LLC, 6.413% (3-Month USD-SOFR + 0.275%) due 2/3/32 | 53870  |
| 90000 | Hologic Inc., due 1/14/33<sup>(j)</sup> | 88875  |
| 4987 | Ineos US Finance LLC, 6.673% (1-Month USD-SOFR + 0.300%) due 2/7/31 | 4214  |
| 55000 | ION Platform Finance US Inc., 7.422% (3-Month USD-SOFR + 0.375%) due 10/7/32 | 45014  |
|  | Kaman Corp.:<br>|  |
| 760 | &nbsp;&nbsp;&nbsp; 2.007% (3-Month + 0.250%) due 2/26/32 | 759  |
| 41010 | &nbsp;&nbsp;&nbsp; 6.173% (1-Month USD-SOFR + 0.250%) due 2/26/32 | 40935  |
| 10719 | LBM Acquisition LLC, 7.527% (1-Month USD-SOFR + 0.375%) due 6/6/31 | 8822  |
| 64348 | LC Ahab US Bidco LLC, 6.173% (1-Month USD-SOFR + 0.250%) due 5/1/31 | 64188  |
| 55598 | LifePoint Health Inc., 7.422% (3-Month USD-SOFR + 0.375%) due 5/17/31 | 55614  |
| 35000 | Live Nation Entertainment Inc., 5.677% (1-Month USD-SOFR + 0.200%) due 10/21/32 | 34956  |
| 47742 | Madison IAQ LLC, 6.378% (6-Month USD-SOFR + 0.275%) due 11/8/32 | 47808  |
| 37200 | Madison Safety & Flow LLC, 6.173% (1-Month USD-SOFR + 0.250%) due 9/26/31 | 37162  |
| 12101 | McAfee Corp., 6.673% (1-Month USD-SOFR + 0.300%) due 3/1/29 | 10498  |
| 30000 | Meade Pipeline Co LLC, 5.695% (3-Month USD-SOFR + 0.200%) due 9/22/32 | 29963  |

---

See Notes to Financial Statements.

195<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **SENIOR LOANS<sup>(d)</sup> – (continued)**  | **SENIOR LOANS<sup>(d)</sup> – (continued)**  | **SENIOR LOANS<sup>(d)</sup> – (continued)**  |
| **United States – (continued)**  | **United States – (continued)**  | **United States – (continued)**  |
| $52662 | MH Sub I LLC, 7.923% (1-Month USD-SOFR + 0.425%) due 12/31/31 | $35679  |
| 34737 | MI Windows and Doors LLC, 6.423% (1-Month USD-SOFR + 0.275%) due 3/28/31 | 34451  |
|  | Mitchell International Inc.:<br>|  |
| 49391 | &nbsp;&nbsp;&nbsp; 6.673% (1-Month USD-SOFR + 0.300%) due 6/17/31 | 45409  |
| 10000 | &nbsp;&nbsp;&nbsp; 8.923% (1-Month USD-SOFR + 0.525%) due 6/17/32 | 9190  |
| 11292 | NEP Group Inc., 8.173% (1-Month USD-SOFR + 0.450%) due 10/17/31 | 10282  |
| 10000 | Neptune BidCo US Inc., 8.760% (3-Month USD-SOFR + 0.500%) due 2/3/33 | 9403  |
| 34825 | Nexstar Media Inc., 6.173% (1-Month USD-SOFR + 0.250%) due 6/28/32 | 34781  |
| 35000 | OPENLANE Inc., 6.140% (3-Month USD-SOFR + 0.250%) due 10/8/32 | 34935  |
| 84785 | OVG Business Services LLC, 6.673% (1-Month USD-SOFR + 0.300%) due 6/25/31 | 84467  |
| 19950 | Pacific Dental Services LLC, 6.167% (1-Month USD-SOFR + 0.250%) due 3/15/31 | 19922  |
| 25000 | PetSmart LLC, 7.677% (1-Month USD-SOFR + 0.400%) due 8/18/32 | 24833  |
| 12549 | Pinnacle Buyer LLC, 6.161% (3-Month USD-SOFR + 0.250%) due 10/1/32 | 12554  |
| 37367 | Polaris Newco LLC, 7.678% (3-Month USD-SOFR + 0.375%) due 6/2/28 | 31735  |
| 8700 | Pye-Barker Fire & Safety LLC, 6.206% (3-Month USD-SOFR + 0.250%) due 12/16/32 | 8703  |
| 54863 | Radiology Partners Inc., 8.172% (3-Month USD-SOFR + 0.450%) due 6/30/32 | 54222  |
|  | RealPage Inc.:<br>|  |
| 14961 | &nbsp;&nbsp;&nbsp; 6.934% (3-Month USD-SOFR + 0.300%) due 4/24/28 | 13789  |
| 34738 | &nbsp;&nbsp;&nbsp; 7.422% (3-Month USD-SOFR + 0.375%) due 4/24/28 | 32343  |
| 14538 | Sabre GLBL Inc., 9.773% (1-Month USD-SOFR + 0.600%) due 11/15/29 | 10031  |
| 63646 | Savor Acquisition Inc., 6.667% (3-Month USD-SOFR + 0.300%) due 2/19/32 | 63672  |
| 90000 | Southern Veterinary Partners LLC, 6.176% (1-Month USD-SOFR + 0.250%) due 12/4/31 | 89770  |
| 14887 | Staples Inc., 9.414% (3-Month USD-SOFR + 0.575%) due 9/4/29 | 13286  |
| 10660 | Stubhub Holdco Sub LLC, 8.423% (1-Month USD-SOFR + 0.475%) due 3/15/30 | 10296  |
| 35000 | Sunrise Financing Partnership, due 2/15/32<sup>(j)</sup> | 34621  |
| 29850 | Team Health Holdings Inc., 7.661% (3-Month USD-SOFR + 0.400%) due 6/30/28 | 29791  |
| 79600 | Tecta America Corp., 6.423% (1-Month USD-SOFR + 0.275%) due 2/18/32 | 79587  |
| 14925 | TKO Worldwide Holdings LLC, 5.664% (3-Month USD-SOFR + 0.200%) due 11/21/31 | 14928  |
| 15000 | TransDigm Inc., 6.160% (1-Month USD-SOFR + 0.250%) due 2/13/33 | 15011  |
| 19950 | Trident TPI Holdings Inc., 7.422% (3-Month USD-SOFR + 0.375%) due 9/15/28 | 19231  |
| 44888 | Trucordia Insurance Holdings LLC, 6.923% (1-Month USD-SOFR + 0.325%) due 6/17/32 | 42980  |
| 40000 | UKG Inc., due 2/10/31<sup>(j)</sup> | 37780  |

---

See Notes to Financial Statements.

196<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | | |
|:---|:---|:---|:---|
| **Face Amount/Units** |  | **Security** | **Value**  |
| **SENIOR LOANS<sup>(d)</sup> – (continued)**  | **SENIOR LOANS<sup>(d)</sup> – (continued)**  | **SENIOR LOANS<sup>(d)</sup> – (continued)**  | **SENIOR LOANS<sup>(d)</sup> – (continued)**  |
| **United States – (continued)**  | **United States – (continued)**  | **United States – (continued)**  | **United States – (continued)**  |
| $54861 |  | Univision Communications Inc., 7.287% (1-Month USD-SOFR + 0.350%) due 1/31/29 | $54678  |
| 19750 |  | Verde Purchaser LLC, 7.672% (3-Month USD-SOFR + 0.400%) due 11/30/30 | 19562  |
| 37987 |  | Vestis Corp., 5.923% (3-Month USD-SOFR + 0.225%) due 2/22/31 | 36246  |
| 9975 |  | Victory Capital Holdings Inc., 5.672% (3-Month USD-SOFR + 0.200%) due 9/23/32 | 9965  |
| 87025 |  | Victra Holdings LLC, 7.422% (3-Month USD-SOFR + 0.375%) due 3/29/29 | 86645  |
| 40000 |  | Virgin Media Bristol LLC, 7.052% (6-Month USD-SOFR + 0.318%) due 3/31/31 | 37267  |
| 59850 |  | Voyager Parent LLC, 7.911% (3-Month USD-SOFR + 0.425%) due 7/1/32 | 59579  |
| 24302 |  | White Cap Supply Holdings LLC, 6.923% (1-Month USD-SOFR + 0.325%) due 10/19/29 | 23993  |
| 19975 |  | &nbsp;&nbsp;&nbsp; WhiteWater Matterhorn Holdings LLC, 5.417% <br>(3-Month USD-SOFR + 0.175%) due 6/16/32 | 19921  |
|  |  | X Corp.:<br>|  |
| 45000 |  | &nbsp;&nbsp;&nbsp; 9.500% (6-Month USD-SOFR + 0.950%) due 10/26/29 | 47183  |
| 69705 |  | &nbsp;&nbsp;&nbsp; 10.448% (6-Month USD-SOFR + 0.650%) due 10/26/29 | 69850  |
| 38405 |  | Zayo Group Holdings Inc., 6.787% (1-Month USD-SOFR + 0.300%) due 3/11/30 | 36917  |
| 48374 |  | Zelis Cost Management Buyer Inc., 6.923% (1-Month USD-SOFR + 0.325%) due 11/26/31 | 45592  |
|  |  | Total United States | 3579793  |
|  |  | &nbsp;&nbsp;&nbsp; **TOTAL SENIOR LOANS** <br>**(Cost – $4,326,551)** | **4191529**  |
|  | **Rating<sup>††</sup>** |  |  |
| **MUNICIPAL BONDS – 0.0%**  | **MUNICIPAL BONDS – 0.0%**  | **MUNICIPAL BONDS – 0.0%**  | **MUNICIPAL BONDS – 0.0%**  |
| **California – 0.0%**  | **California – 0.0%**  | **California – 0.0%**  | **California – 0.0%**  |
| 20000 | AA- | Regents of the University of California Medical Center Pooled Revenue, Revenue Bonds, 6.548% due 5/15/48 | 21872  |
| **New York – 0.0%**  | **New York – 0.0%**  | **New York – 0.0%**  | **New York – 0.0%**  |
| 580000 | A+ | New York Transportation Development Corp., Revenue Bonds, 4.248% due 9/1/35 | 578125  |
|  |  | &nbsp;&nbsp;&nbsp; **TOTAL MUNICIPAL BONDS** <br>**(Cost – $615,321)** | **599997**  |
| **Shares/Units** |  |  |  |
| **EXCHANGE TRADED FUND (ETF) – 1.8%**  | **EXCHANGE TRADED FUND (ETF) – 1.8%**  | **EXCHANGE TRADED FUND (ETF) – 1.8%**  | **EXCHANGE TRADED FUND (ETF) – 1.8%**  |
| 264155 |  | &nbsp;&nbsp;&nbsp; iShares Core U.S. Aggregate Bond <br>(Cost – $26,067,031) | 26785317 |

---

See Notes to Financial Statements.

197<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units**  | **Security**  | **Value**  |
| **COMMON STOCK – 0.0%** | **COMMON STOCK – 0.0%** | **COMMON STOCK – 0.0%** |
| **INDUSTRIAL – 0.0%**  | **INDUSTRIAL – 0.0%**  | **INDUSTRIAL – 0.0%**  |
| **Machinery-Diversified – 0.0%**  | **Machinery-Diversified – 0.0%**  | **Machinery-Diversified – 0.0%**  |
| 266 | &nbsp;&nbsp;&nbsp; Mangrove Luxco III SARL<sup>\*(k)(l)</sup> <br>(Cost – $4,765) | $4990  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS** <br>**(Cost – $1,622,427,417)** | **1535816359** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Face Amount†** |  |  |  |
| **SHORT-TERM INVESTMENTS – 2.5%**  | **SHORT-TERM INVESTMENTS – 2.5%**  | **SHORT-TERM INVESTMENTS – 2.5%**  | **SHORT-TERM INVESTMENTS – 2.5%**  |
| **TIME DEPOSITS – 2.5%**  | **TIME DEPOSITS – 2.5%**  | **TIME DEPOSITS – 2.5%**  | **TIME DEPOSITS – 2.5%**  |
| 59 | <sup>EUR</sup> | Citibank - London, 0.880% due 3/2/26 | 70  |
| 6370912 |  | Citibank - New York, 2.980% due 3/2/26 | 6370912  |
| 8800046 |  | JPMorgan Chase & Co. - New York, 2.980% due 3/2/26 | 8800046  |
| 22777000 |  | Royal Bank of Canada - Toronto, 2.980% due 3/2/26 | 22777000  |
|  |  | &nbsp;&nbsp;&nbsp; **TOTAL TIME DEPOSITS** <br>**(Cost – $37,948,028)** | **37948028**  |
| **Shares/Units** |  |  |  |
| **INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 0.0%**  | **INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 0.0%**  | **INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 0.0%**  | **INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 0.0%**  |
| **MONEY MARKET FUND – 0.0%**  | **MONEY MARKET FUND – 0.0%**  | **MONEY MARKET FUND – 0.0%**  | **MONEY MARKET FUND – 0.0%**  |
| 618657 |  | &nbsp;&nbsp;&nbsp; Federated Government Obligations Fund, Premier Class, 3.593%<sup>(m)</sup> <br>(Cost – $618,657) | 618657  |
|  |  | &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS – 104.2%** <br>**(Cost – $1,660,994,102)** | **1574383044**  |
|  |  | Liabilities in Excess of Other Assets – (4.2)% | (63222989)  |
|  |  | **TOTAL NET ASSETS – 100.0%** | **$1511160055** |

---

&nbsp;&nbsp;&nbsp;&nbsp;† Face amount denominated in U.S. dollars, unless
 otherwise noted.

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

# Security issued with zero coupon. Income is recognized through accretion of discount.

\* Non-income producing security.

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

&nbsp;&nbsp;&nbsp;&nbsp;(b) This security is traded on a TBA basis (See Note 5).

&nbsp;&nbsp;&nbsp;&nbsp;(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 February 28, 2026, amounts to $272,769,257 and represents 18.05% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Variable rate security. Interest rate disclosed
 is that which was in effect at February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Interest only security.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Principal only security.

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

&nbsp;&nbsp;&nbsp;&nbsp;(h) Payment in-kind security for which part of
 the income earned may be paid as additional principal. At the option of the issuer.

&nbsp;&nbsp;&nbsp;&nbsp;(i) Security is perpetual in nature and has no stated
 maturity date.

&nbsp;&nbsp;&nbsp;&nbsp;(j) 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.

See Notes to Financial Statements.

198<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

&nbsp;&nbsp;&nbsp;&nbsp;(k) Illiquid security. The aggregate value of illiquid
 holdings at February 28, 2026, amounts to $4,990 and represents 0.00% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(l) Security is valued in good faith at fair value
 by or under the direction of the Board of Trustees using significant unobservable inputs.

&nbsp;&nbsp;&nbsp;&nbsp;(m) Represents investment of collateral received from
 securities lending transactions.

<u>Abbreviations used in this schedule:</u>

CBT — Chicago Board of Trade

CLO — Collateralized Loan Obligation

CMT — Constant Maturity Treasury Index

LLC — Limited Liability Company

LP — Limited Partnership

MFA — Mortgage Finance Authority

PLC — Public Limited Company

REMICS — Real Estate Mortgage Investment Conduit

SARL — Société à Responsabilité Limitée

SOFR — Secured Overnight Financing Rate

STRIPS — Separate Trading of Registered Interest and Principals

TSFR — CME Term SOFR Reference Rate

**<u>Summary of Investments by Security Type^</u>** 

---

| | |
|:---|:---|
| U.S. Government Agencies & Obligations | 27.7%  |
| Mortgage-Backed Securities | 21.6  |
| Collateralized Mortgage Obligations | 17.7  |
| Corporate Bonds & Notes | 17.0  |
| Asset-Backed Securities | 9.3  |
| Exchange Traded Fund (ETF) | 1.7  |
| Collateralized Loan Obligations | 1.7  |
| Sovereign Bonds | 0.6  |
| Senior Loans | 0.3  |
| Municipal Bonds | 0.0<sup>\*</sup>  |
| Common Stock | 0.0<sup>\*</sup>  |
| Short-Term Investments | 2.4  |
| Money Market Fund | 0.0<sup>\*</sup>  |
|  | 100.0% |

---

---

| | |
|:---|:---|
| ^<br>| As a percentage of total investments.<br>|

---

\* Position represents less than 0.05%.

At February 28, 2026, Destinations Core Fixed Income Fund had open exchange traded futures contracts as described below.

See Notes to Financial Statements.

199<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (continued)** 

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Open Futures Contracts** | **Number of**<br>**Contracts** | **Expiration**<br>**Date (Month/Year)** | **Notional**<br>**Amounts** | **Market Value** | **Unrealized Appreciation**<br>(Depreciation)  |
| **Contracts to Buy:**<br>|  |  |  |  |  |
| U.S. 10 Year Note (CBT) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6/26 | $9860875 | $9901688 | &nbsp;&nbsp;&nbsp; $40813  |
| U.S. 10 Year Ultra | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6/26 | 2319375 | 2334688 | &nbsp;&nbsp;&nbsp; 15313  |
| U.S. 2 Year Note (CBT) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6/26 | 25926078 | 25949906 | &nbsp;&nbsp;&nbsp; 23828  |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp; $79954  |
| **Contracts to Sell:**<br>|  |  |  |  |  |
| U.S. 5 Year Note (CBT) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6/26 | $(2194734) | $2202812 | &nbsp;&nbsp;&nbsp; $(8078)  |
| U.S. Long Bond (CBT) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6/26 | (6349219) | 6397313 | &nbsp;&nbsp;&nbsp; (48094)  |
| U.S. Ultra Long Bond (CBT) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6/26 | (2533453) | 2553469 | &nbsp;&nbsp;&nbsp; (20016)  |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp; $(76188)  |
| Net Unrealized Appreciation on Open Exchange Traded Futures Contracts | Net Unrealized Appreciation on Open Exchange Traded Futures Contracts | Net Unrealized Appreciation on Open Exchange Traded Futures Contracts | Net Unrealized Appreciation on Open Exchange Traded Futures Contracts | Net Unrealized Appreciation on Open Exchange Traded Futures Contracts | &nbsp;&nbsp;&nbsp; $3766 |

---

At February 28, 2026, Destinations Core Fixed Income Fund had deposited cash of $18,685 with a broker or brokers as margin collateral on open exchange traded futures contracts.

At February 28, 2026, Destinations Core Fixed Income Fund held the following Centrally Cleared Interest Rate Swap Contracts:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive Floating Rate** | **Floating** <br>**Rate** <br>**Index** | **Fixed** <br>**Rate** | **Maturity**<br>**Date** | **Notional**<br>**Amounts** | **Notional**<br>**Amounts** | **Market Value** | **Upfront** <br>**Premiums** <br>**Paid/** <br>(Received) | **Unrealized**<br>**Appreciation** <br>(Depreciation)  |
| Receive | 1D SOFTR | 4.160% | 3/19/45 | USD | 7445000 | $(291003) | $(14326) | $(276677)  |
| Receive | 1D SOFTR | 3.595% | 11/15/32 | USD | 1675000 | (26674) |  | (26674)  |
| Receive | 1D SOFTR | 3.378% | 5/31/30 | USD | 2500000 | (19080) |  | (19080)  |
| Receive | 1D SOFTR | 3.590% | 9/20/53 | USD | 1175000 | 65908 | 5065 | 60843  |
| Receive | 1D SOFTR | 3.250% | 6/21/53 | USD | 620000 | 73234 | (7296) | 80530  |
| Receive | 1D SOFTR | 2.970% | 3/15/53 | USD | 2025000 | 345859 | 6559 | 339300  |
|  |  |  |  |  |  | **$148244** | **$(9998)** | **$158242** |

---

**Centrally Cleared - Credit Default Swaps on Corporate and Sovereign Issues - Sell Protection<sup>(1)</sup>**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Obligation** | **Fixed** <br>**Deal**<br>**Receive** <br>**Rate** | **Maturity** <br>**Date** | **Payment**<br>**Frequency** | **Implied**<br>**Credit**<br>**Spread at**<br>**2/28/26<sup>(2)</sup>** | **Notional**<br>**Amounts<sup>(3)</sup>** | **Notional**<br>**Amounts<sup>(3)</sup>** | **Market Value** | **Upfront** <br>**Premiums**<br>**Paid/** <br>(Received) | **Unrealized**<br>**Depreciation**  |
| Oracle Corp. | 1.000% | 12/20/30 | 3-Month | &nbsp;&nbsp; 1.628% | USD | 1065000 | &nbsp;&nbsp; $(26563) | $(11855) | $(14708) |

---

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(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

See Notes to Financial Statements.

200<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations Core Fixed Income Fund (concluded)** 

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.

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

**Schedule of Forward Sale Commitments** 

---

| | | |
|:---|:---|:---|
| **Face Amounts** | **Security** | **Value**  |
|  | Federal National Mortgage Association:<br>|  |
| $300000 | &nbsp;&nbsp;&nbsp; 2.000% due 3/1/41<sup>(a)</sup> (Proceeds – $278,016) | $(279494)  |
| 405000 | &nbsp;&nbsp;&nbsp; 5.000% due 3/1/42<sup>(a)</sup> (Proceeds – $406,218) | (406817)  |
| 125000 | &nbsp;&nbsp;&nbsp; 2.000% due 3/1/56<sup>(a)</sup> (Proceeds – $101,431) | (103529)  |
| 5516000 | &nbsp;&nbsp;&nbsp; 2.500% due 3/1/56<sup>(a)</sup> (Proceeds – $4,692,241) | (4778467)  |
| 661000 | &nbsp;&nbsp;&nbsp; 3.500% due 3/1/56<sup>(a)</sup> (Proceeds – $610,854) | (622848)  |
| 356000 | &nbsp;&nbsp;&nbsp; 4.500% due 3/1/56<sup>(a)</sup> (Proceeds – $351,759) | (352031)  |
| 5515000 | &nbsp;&nbsp;&nbsp; 2.500% due 4/1/56<sup>(a)</sup> (Proceeds – $4,753,862) | (4777816)  |
| 1700000 | &nbsp;&nbsp;&nbsp; 4.000% due 4/1/56<sup>(a)</sup> (Proceeds – $1,640,434) | (1647235)  |
| 2065000 | &nbsp;&nbsp;&nbsp; 4.500% due 4/1/56<sup>(a)</sup> (Proceeds – $2,036,122) | (2040362)  |
|  | Government National Mortgage Association:<br>|  |
| 275000 | &nbsp;&nbsp;&nbsp; 3.000% due 3/1/56<sup>(a)</sup> (Proceeds – $250,057) | (252197)  |
| 1840000 | &nbsp;&nbsp;&nbsp; 4.000% due 3/1/56<sup>(a)</sup> (Proceeds – $1,763,973) | (1769847)  |
| 350000 | &nbsp;&nbsp;&nbsp; 4.500% due 3/1/56<sup>(a)</sup> (Proceeds – $344,575) | (345871)  |
| 250000 | &nbsp;&nbsp;&nbsp; 3.000% due 4/1/56<sup>(a)</sup> (Proceeds – $228,066) | (229211)  |
| 1800000 | &nbsp;&nbsp;&nbsp; 4.000% due 4/1/56<sup>(a)</sup> (Proceeds – $1,725,609) | (1730669)  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL OPEN FORWARD SALE COMMITMENTS** <br>**(Proceeds – $19,183,217)** | **$(19336394)** |

---

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

<u>Currency Abbreviations used in this schedule:</u>

---

| | |
|:---|:---|
| EUR<br>| — Euro<br>|

---

See Notes to Financial Statements.

201<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations Low Duration Fixed Income Fund** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – 35.0%**  | **CORPORATE BONDS & NOTES – 35.0%**  | **CORPORATE BONDS & NOTES – 35.0%**  |
| **Basic Materials – 0.4%**  | **Basic Materials – 0.4%**  | **Basic Materials – 0.4%**  |
| 200000 | Corp. Nacional del Cobre de Chile, Senior Unsecured Notes, 3.000% due 9/30/29 | $191673  |
| 200000 | Freeport Indonesia PT, Senior Unsecured Notes, 4.763% due 4/14/27<sup>(a)</sup> | 200521  |
| 200000 | Freeport-McMoRan Inc., Company Guaranteed Notes, 4.125% due 3/1/28 | 200010  |
| 200000 | Gold Fields Orogen Holdings BVI Ltd., Company Guaranteed Notes, 6.125% due 5/15/29 | 210206  |
| 200000 | OCP SA, Senior Unsecured Notes, 6.100% due 4/30/30 | 209000  |
| 108000 | Rio Tinto Finance USA PLC, Company Guaranteed Notes, 4.875% due 3/14/30 | 111542  |
|  | Total Basic Materials | 1122952  |
| **Communications – 5.7%**  | **Communications – 5.7%**  | **Communications – 5.7%**  |
| 1750000 | Airbnb Inc., Senior Unsecured Notes, zero coupon, due 3/15/26 | 1741250  |
| 98000 | AppLovin Corp., Senior Unsecured Notes, 5.125% due 12/1/29 | 100082  |
| 1701000 | GCI LLC, Company Guaranteed Notes, 4.750% due 10/15/28<sup>(a)</sup> | 1671344  |
| 2350000 | Gen Digital Inc., Company Guaranteed Notes, 6.750% due 9/30/27<sup>(a)</sup> | 2367886  |
| 721000 | Getty Images Inc., Company Guaranteed Notes, 14.000% due 3/1/28<sup>(a)(b)</sup> | 666024  |
| 2169000 | Getty Images Inc., Senior Secured Notes, 11.250% due 2/21/30<sup>(a)</sup> | 1919376  |
| 1841000 | Go Daddy Operating Co. LLC/GD Finance Co., Inc, Company Guaranteed Notes, 5.250% due 12/1/27<sup>(a)</sup> | 1831283  |
| 1193803 | Go North Group AB, Senior Secured Notes, 9.446% (SOFRRATE + 5.762%) due 1/22/30<sup>(c)(d)</sup> | 1193803  |
| 3565490 | GrubHub Holdings Inc., Senior Secured Notes, 13.000% due 7/31/30<sup>(a)(b)(e)</sup> | 2384668  |
| 180000 | Millicom International Cellular SA, Senior Unsecured Notes, 5.125% due 1/15/28 | 179558  |
| 200000 | Telefonica Celular del Paraguay SA, Senior Unsecured Notes, 5.875% due 4/15/27 | 199500  |
| 324000 | T-Mobile USA Inc., Company Guaranteed Notes, 3.500% due 4/15/31 | 313005  |
| 87000 | Uber Technologies Inc., Senior Unsecured Notes, 4.150% due 1/15/31 | 86659  |
| 1027000 | Ziff Davis Inc., Senior Unsecured Notes, 1.750% due 11/1/26<sup>(b)</sup> | 1001325  |
|  | Total Communications | 15655763  |
| **Consumer Cyclical – 1.1%**  | **Consumer Cyclical – 1.1%**  | **Consumer Cyclical – 1.1%**  |
| 48000 | Darden Restaurants Inc., Senior Unsecured Notes, 4.350% due 10/15/27 | 48329  |
| 159000 | Delta Air Lines Inc., Senior Unsecured Notes, 4.950% due 7/10/28 | 161643  |
| 1400000<sup>EUR</sup> | European Entertainment Intressenter BidCo AB, Senior Secured Notes, 9.283% (3-Month EURIBOR + 7.250%) due 9/29/30<sup>(c)</sup> | 1604776 |
|  | Hyundai Capital America, Senior Unsecured Notes:<br>|  |
| 114000 | &nbsp;&nbsp;&nbsp; 4.550% due 9/26/29<sup>(a)</sup> | 115624  |
| 150000 | &nbsp;&nbsp;&nbsp; 5.400% due 6/24/31<sup>(a)</sup> | 157219  |
| 106000 | Marriott International Inc., Senior Unsecured Notes, 4.800% due 3/15/30 | 108852  |
| 77000 | Meritage Homes Corp., Company Guaranteed Notes, 5.125% due 6/6/27 | 77508  |
| 659000<sup>EUR</sup> | Secop Group Holding GmbH, Senior Secured Notes, 10.422% (3-Month EURIBOR + 8.400%) due 12/29/26<sup>(c)</sup> | 786463  |
|  | Total Consumer Cyclical | 3060414  |
| **Consumer Non-cyclical – 9.5%**  | **Consumer Non-cyclical – 9.5%**  | **Consumer Non-cyclical – 9.5%**  |
| 890000 | AbbVie Inc., Senior Unsecured Notes, 2.950% due 11/21/26 | 884348  |
|  | Altria Group Inc., Company Guaranteed Notes:<br>|  |
| 28000 | &nbsp;&nbsp;&nbsp; 6.200% due 11/1/28 | 29546  |
| 47000 | &nbsp;&nbsp;&nbsp; 4.500% due 8/6/30 | 47819  |

---

See Notes to Financial Statements.

202<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Low Duration Fixed Income Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Consumer Non-cyclical – (continued)**  | **Consumer Non-cyclical – (continued)**  | **Consumer Non-cyclical – (continued)**  |
| 17000 | Avery Dennison Corp., Senior Unsecured Notes, 4.875% due 12/6/28 | $17332  |
| 7000 | BAT Capital Corp., Company Guaranteed Notes, 4.906% due 4/2/30 | 7193  |
| 75000 | BAT International Finance PLC, Company Guaranteed Notes, 5.931% due 2/2/29 | 79008  |
| 159000 | Biogen Inc., Senior Unsecured Notes, 5.050% due 1/15/31 | 165026  |
| 200000 | BRF GmbH, Company Guaranteed Notes, 4.350% due 9/29/26 | 198022  |
| 79000 | Bunge Ltd. Finance Corp., Company Guaranteed Notes, 4.200% due 9/17/29 | 79512  |
| 9071000 | Cannabist Co. Holdings Inc., Senior Secured Notes, 9.250% due 12/31/28 | 4694204  |
| 78000 | Cardinal Health Inc., Senior Unsecured Notes, 5.125% due 2/15/29 | 80450  |
| 826000 | Charles River Laboratories International Inc., Company Guaranteed Notes, 4.250% due 5/1/28<sup>(a)</sup> | 815012  |
|  | Element Fleet Management Corp., Senior Unsecured Notes:<br>|  |
| 266000 | &nbsp;&nbsp;&nbsp; 5.037% due 3/25/30<sup>(a)</sup> | 272668  |
| 30000 | &nbsp;&nbsp;&nbsp; 4.641% due 11/24/30<sup>(a)</sup> | 30296  |
| 112000 | Equifax Inc., Senior Unsecured Notes, 4.800% due 9/15/29 | 114019  |
| 572000 | Euronet Worldwide Inc., Senior Unsecured Notes, 0.625% due 10/1/30<sup>(a)</sup> | 508365  |
| 1199000<sup>EUR</sup> | Formycon AG, Company Guaranteed Notes, 9.032% (3-Month EURIBOR + 7.000%) due 7/9/29<sup>(c)</sup> | 1360079  |
|  | GE HealthCare Technologies Inc., Senior Unsecured Notes:<br>|  |
| 80000 | &nbsp;&nbsp;&nbsp; 4.150% due 12/15/28 | 80420  |
| 208000 | &nbsp;&nbsp;&nbsp; 4.800% due 8/14/29 | 213302  |
|  | Global Payments Inc., Senior Unsecured Notes:<br>|  |
| 40000 | &nbsp;&nbsp;&nbsp; 5.300% due 8/15/29 | 41090  |
| 79000 | &nbsp;&nbsp;&nbsp; 4.875% due 11/15/30 | 78907  |
| 1550000 | HCA Inc., Company Guaranteed Notes, 5.250% due 6/15/26 | 1551024  |
| 1200000 | Hologic Inc., Company Guaranteed Notes, 3.250% due 2/15/29<sup>(a)</sup> | 1193774  |
| 70000 | Illumina Inc., Senior Unsecured Notes, 4.650% due 9/9/26 | 70233  |
| 301000 | &nbsp;&nbsp;&nbsp; Imperial Brands Finance PLC, Company Guaranteed Notes, 5.500% <br>due 2/1/30<sup>(a)</sup> | 314417  |
| 200000 | Indofood CBP Sukses Makmur Tbk PT, Senior Unsecured Notes, 3.398% due 6/9/31 | 188025  |
| 200000 | JSW Infrastructure Ltd., Senior Secured Notes, 4.950% due 1/21/29 | 200499  |
| 114000 | Laboratory Corp. of America Holdings, Company Guaranteed Notes, 4.350% due 4/1/30 | 114942  |
| 6897000 | Leafly Holdings Inc., Senior Unsecured Notes, 8.000% due 7/1/25<sup>@(d)(f)</sup> | 5862450  |
| 11250000<sup>SEK</sup> | &nbsp;&nbsp;&nbsp; Magle Chemoswed Holding AB, Senior Secured Notes, 8.458% <br>(3-Month SEK-STIBOR + 6.500%) due 7/4/28<sup>(c)(f)</sup> | 1208746  |
| 185000 | Mars Inc., Senior Unsecured Notes, 4.800% due 3/1/30<sup>(a)</sup> | 190179  |
| 200000 | NBM US Holdings Inc., Company Guaranteed Notes, 7.000% due 5/14/26 | 199479  |
| 2300000<sup>EUR</sup> | OP Holdco GmbH, Senior Secured Notes, 8.529% (3-Month EURIBOR + 6.500%) due 6/5/29<sup>(a)(c)</sup> | 2581827  |
| 429000 | Pfizer Inc., Senior Unsecured Notes, 4.200% due 11/15/30 | 433384  |
| 102000 | Prime Security Services Borrower LLC/Prime Finance Inc., Senior Secured Notes, 5.750% due 4/15/26<sup>(a)</sup> | 102204  |

---

See Notes to Financial Statements.

203<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Low Duration Fixed Income Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Consumer Non-cyclical – (continued)**  | **Consumer Non-cyclical – (continued)**  | **Consumer Non-cyclical – (continued)**  |
| 130744 | Prumo Participacoes e Investimentos S/A, Senior Secured Notes, 7.500% due 12/31/31 | $133330  |
| 81000 | Quanta Services Inc., Senior Unsecured Notes, 4.500% due 1/15/31 | 81958  |
| 93000 | Quest Diagnostics Inc., Senior Unsecured Notes, 4.200% due 6/30/29 | 93682  |
| 146667 | Rutas 2 & 7 Finance Ltd., Senior Secured Notes, zero coupon, due 9/30/36 | 113404  |
| 81000 | Sysco Corp., Company Guaranteed Notes, 5.100% due 9/23/30 | 84086  |
| 257000 | Triton Container International Ltd., Company Guaranteed Notes, 3.150% due 6/15/31<sup>(a)</sup> | 237746  |
| 28000 | Verisk Analytics Inc., Senior Unsecured Notes, 4.450% due 3/15/31 | 28136  |
| 1370000 | Williams Scotsman Inc., Senior Secured Notes, 4.625% due 8/15/28<sup>(a)</sup> | 1362265  |
|  | Total Consumer Non-cyclical | 26142408  |
| **Energy – 1.6%**  |  |  |
| 147916 | AI Candelaria - spain- SA, Senior Secured Notes, 7.500% due 12/15/28 | 150135  |
| 55000 | Boardwalk Pipelines LP, Company Guaranteed Notes, 4.450% due 7/15/27 | 55236  |
| 133000 | Cheniere Energy Partners LP, Company Guaranteed Notes, 4.500% due 10/1/29 | 133791  |
| 24000 | DCP Midstream Operating LP, Company Guaranteed Notes, 5.125% due 5/15/29 | 24682  |
| 27000 | Devon Energy Corp., Senior Unsecured Notes, 5.250% due 10/15/27 | 27000  |
| 28000 | DT Midstream Inc., Company Guaranteed Notes, 4.125% due 6/15/29<sup>(a)</sup> | 27803  |
| 44000 | Enbridge Inc., Company Guaranteed Notes, 6.000% due 11/15/28 | 46352  |
| 183000 | Energy Transfer LP, Senior Unsecured Notes, 6.050% due 12/1/26 | 185438  |
| 2400000 | Forum Energy Technologies Inc., Senior Secured Notes, 10.500% due 11/7/29 | 2476686  |
| 82400 | GNL Quintero SA, Senior Unsecured Notes, 4.634% due 7/31/29 | 82831  |
| 76000 | Kinder Morgan Inc., Company Guaranteed Notes, 5.000% due 2/1/29 | 78293  |
| 158000 | MPLX LP, Senior Unsecured Notes, 4.800% due 2/15/29 | 161056  |
| 123000 | NGPL PipeCo LLC, Senior Unsecured Notes, 4.875% due 8/15/27<sup>(a)</sup> | 123857  |
|  | Petrobras Global Finance BV, Company Guaranteed Notes:<br>|  |
| 100000 | &nbsp;&nbsp;&nbsp; 7.375% due 1/17/27 | 102450  |
| 50000 | &nbsp;&nbsp;&nbsp; 5.999% due 1/27/28 | 50991  |
| 187000 | Targa Resources Corp., Company Guaranteed Notes, 4.350% due 4/15/31 | 187015  |
| 117000 | Targa Resources Partners LP/Targa Resources Partners Finance Corp., Company Guaranteed Notes, 5.500% due 3/1/30 | 119114  |
| 200000 | Ultrapar International SA, Company Guaranteed Notes, 5.250% due 6/6/29 | 201224  |
|  | Western Midstream Operating LP, Senior Unsecured Notes:<br>|  |
| 16000 | &nbsp;&nbsp;&nbsp; 6.350% due 1/15/29 | 16908  |
| 100000 | &nbsp;&nbsp;&nbsp; 4.050% due 2/1/30 | 98784  |
| 109000 | Williams Cos., Inc., Senior Unsecured Notes, 4.800% due 11/15/29 | 111721  |
|  | Total Energy | 4461367  |
| **Financial – 5.8%**  | **Financial – 5.8%**  | **Financial – 5.8%**  |
| 258000 | AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Company Guaranteed Notes, 5.750% due 6/6/28 | 267189  |
| 84000 | Agree LP, Company Guaranteed Notes, 2.900% due 10/1/30 | 79428  |
| 256000 | American Express Co., Senior Unsecured Notes, 4.731% (SOFRRATE + 1.260%) due 4/25/29<sup>(c)</sup> | 260240  |

---

See Notes to Financial Statements.

204<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Low Duration Fixed Income Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Financial – (continued)**  | **Financial – (continued)**  | **Financial – (continued)**  |
| 92000 | &nbsp;&nbsp;&nbsp; American National Global Funding, Senior Secured Notes, 4.875% due <br>1/23/31<sup>(a)</sup> | $91958  |
| 288000 | American Tower Corp., Senior Unsecured Notes, 4.900% due 3/15/30 | 295957  |
|  | Athene Global Funding, Secured Notes:<br>|  |
| 107000 | &nbsp;&nbsp;&nbsp; 4.721% due 10/8/29<sup>(a)</sup> | 107057  |
| 181000 | &nbsp;&nbsp;&nbsp; 5.033% due 7/17/30<sup>(a)</sup> | 182032  |
|  | Aviation Capital Group LLC, Senior Unsecured Notes:<br>|  |
| 16000 | &nbsp;&nbsp;&nbsp; 6.250% due 4/15/28<sup>(a)</sup> | 16627  |
| 189000 | &nbsp;&nbsp;&nbsp; 4.800% due 10/24/30<sup>(a)</sup> | 190959  |
|  | Avolon Holdings Funding Ltd., Company Guaranteed Notes:<br>|  |
| 75000 | &nbsp;&nbsp;&nbsp; 6.375% due 5/4/28<sup>(a)</sup> | 78168  |
| 174000 | &nbsp;&nbsp;&nbsp; 5.375% due 5/30/30<sup>(a)</sup> | 179969  |
| 200000 | &nbsp;&nbsp;&nbsp; Banco de Credito del Peru SA, Subordinated Notes, 3.250% <br>(5-Year CMT Index + 2.450%) due 9/30/31<sup>(c)</sup> | 197682  |
| 150000 | &nbsp;&nbsp;&nbsp; Banco Internacional del Peru SAA Interbank, Subordinated Notes, 6.397% <br>(5-Year CMT Index + 2.067%) due 4/30/35<sup>(c)</sup> | 155708  |
| 150000 | Banco Santander Chile, Senior Unsecured Notes, 4.550% due 11/20/30<sup>(a)</sup> | 151018  |
| 200000 | 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<sup>(c)</sup> | 213420  |
|  | Bank of America Corp., Senior Unsecured Notes:<br>|  |
| 58000 | &nbsp;&nbsp;&nbsp; 3.559% (3-Month TSFR + 1.322%) due 4/23/27<sup>(c)</sup> | 57958  |
| 157000 | &nbsp;&nbsp;&nbsp; 4.979% (SOFRRATE + 0.830%) due 1/24/29<sup>(c)</sup> | 159805  |
| 1142000 | Braemar Hotels & Resorts Inc., Senior Unsecured Notes, 4.500% due 6/1/26 | 1116876  |
|  | Brown & Brown Inc., Senior Unsecured Notes:<br>|  |
| 25000 | &nbsp;&nbsp;&nbsp; 4.700% due 6/23/28 | 25236  |
| 26000 | &nbsp;&nbsp;&nbsp; 4.500% due 3/15/29 | 26116  |
| 247000 | Canadian Imperial Bank of Commerce, Senior Unsecured Notes, 4.243% (SOFRRATE + 0.600%) due 9/8/28<sup>(c)</sup> | 248112  |
|  | Citigroup Inc., Senior Unsecured Notes:<br>|  |
| 95000 | &nbsp;&nbsp;&nbsp; 4.786% (SOFRRATE + 0.870%) due 3/4/29<sup>(c)</sup> | 96428  |
| 201000 | &nbsp;&nbsp;&nbsp; 4.542% (SOFRRATE + 1.338%) due 9/19/30<sup>(c)</sup> | 203372  |
| 3307424 | Compass Group Diversified Holdings LLC, Company Guaranteed Notes, 5.250% due 4/15/29<sup>(a)</sup> | 3095913  |
| 312000 | CubeSmart LP, Company Guaranteed Notes, 4.375% due 2/15/29 | 314388  |
| 200000 | DBS Group Holdings Ltd., Subordinated Notes, 1.822% (5-Year CMT Index + 1.100%) due 3/10/31<sup>(c)</sup> | 199812  |
| 159000 | Equinix Europe 2 Financing Corp. LLC, Company Guaranteed Notes, 4.600% due 11/15/30 | 160894  |
| 171000 | Essential Properties LP, Company Guaranteed Notes, 2.950% due 7/15/31 | 157831  |
| 313000 | Extra Space Storage LP, Company Guaranteed Notes, 5.500% due 7/1/30 | 327463  |
| 78000 | &nbsp;&nbsp;&nbsp; Goldman Sachs Bank USA, Senior Unsecured Notes, 4.461% <br>(SOFRRATE + 0.770%) due 3/18/27<sup>(c)</sup> | 78015  |

---

See Notes to Financial Statements.

205<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Low Duration Fixed Income Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Financial – (continued)**  | **Financial – (continued)**  | **Financial – (continued)**  |
|  | Goldman Sachs Group Inc., Senior Unsecured Notes:<br>|  |
| 81000 | &nbsp;&nbsp;&nbsp; 4.153% (SOFRRATE + 0.900%) due 10/21/29<sup>(c)</sup> | $81025  |
| 39000 | &nbsp;&nbsp;&nbsp; 4.516% (SOFRRATE + 0.960%) due 1/21/32<sup>(c)</sup> | 39241  |
| 2734000 | Icahn Enterprises LP/Icahn Enterprises Finance Corp., Senior Secured Notes, 5.250% due 5/15/27 | 2692854  |
|  | JPMorgan Chase & Co., Senior Unsecured Notes:<br>|  |
| 182000 | &nbsp;&nbsp;&nbsp; 4.602% (SOFRRATE + 0.920%) due 4/22/28<sup>(c)</sup> | 182964  |
| 127000 | &nbsp;&nbsp;&nbsp; 4.915% (SOFRRATE + 0.800%) due 1/24/29<sup>(c)</sup> | 129319  |
| 110000 | LPL Holdings Inc., Company Guaranteed Notes, 4.625% due 11/15/27<sup>(a)</sup> | 109933  |
| 53000 | M&T Bank Corp., Senior Unsecured Notes, 4.833% (SOFRRATE + 0.930%) due 1/16/29<sup>(c)</sup> | 53861  |
| 2500000<sup>SEK</sup> | Novedo Holding AB, Senior Secured Notes, 8.842% (3-Month SEK-STIBOR + 7.000%) due 9/23/27<sup>(c)</sup> | 246457  |
| 573000 | Oaktree Strategic Credit Fund, Senior Unsecured Notes, 6.190% due 7/15/30<sup>(a)</sup> | 568890  |
| 75000 | Omega Healthcare Investors Inc., Company Guaranteed Notes, 4.750% due 1/15/28 | 75723  |
| 200000 | &nbsp;&nbsp;&nbsp; Oversea-Chinese Banking Corp., Ltd, Subordinated Notes, 4.602% <br>(5-Year CMT Index + 1.575%) due 6/15/32<sup>(c)</sup> | 201084  |
| 1270000 | PennantPark Floating Rate Capital Ltd., Senior Unsecured Notes, 4.250% due 4/1/26 | 1267872  |
| 173000 | Phillips Edison Grocery Center Operating Partnership I LP, Company Guaranteed Notes, 2.625% due 11/15/31 | 157150  |
| 77000 | Royal Bank of Canada, Senior Unsecured Notes, 4.542% (SOFRRATE + 0.860%) due 10/18/28<sup>(c)</sup> | 77258  |
| 155000 | Store Capital LLC, Senior Unsecured Notes, 4.950% due 2/11/31<sup>(a)</sup> | 156380  |
| 264000 | Truist Financial Corp., Senior Unsecured Notes, 7.161% (SOFRRATE + 2.446%) due 10/30/29<sup>(c)</sup> | 284207  |
| 200000 | United Overseas Bank Ltd., Subordinated Notes, 2.000% (5-Year CMT Index + 1.230%) due 10/14/31<sup>(c)</sup> | 197344  |
| 225000 | VICI Properties LP/VICI Note Co., Inc., Company Guaranteed Notes, 4.250% due 12/1/26<sup>(a)</sup> | 224652  |
|  | Wells Fargo & Co., Senior Unsecured Notes:<br>|  |
| 77000 | &nbsp;&nbsp;&nbsp; 4.752% (SOFRRATE + 1.070%) due 4/22/28<sup>(c)</sup> | 77476  |
| 76000 | &nbsp;&nbsp;&nbsp; 6.303% (SOFRRATE + 1.790%) due 10/23/29<sup>(c)</sup> | 80151  |
| 150000 | &nbsp;&nbsp;&nbsp; 5.150% (SOFRRATE + 1.500%) due 4/23/31<sup>(c)</sup> | 155285  |
|  | Total Financial | 15794757  |
| **Industrial – 4.6%**  | **Industrial – 4.6%**  | **Industrial – 4.6%**  |
| 174000<sup>EUR</sup> | Alltub Group SAS, Senior Secured Notes, 8.499% (3-Month EURIBOR + 6.500%) due 4/30/30<sup>(c)</sup> | 213826  |
| 90000 | Amrize Finance US LLC, Company Guaranteed Notes, 4.700% due 4/7/28 | 91393  |
| 128000 | Arrow Electronics Inc., Senior Unsecured Notes, 5.150% due 8/21/29 | 131324  |
| 206729 | Bioceanico Sovereign Certificate Ltd., Senior Secured Notes, zero coupon, due 6/5/34 | 171486  |
| 15590000<sup>SEK</sup> | Cabonline Group Holding AB, Senior Secured Notes, 10.000% due 3/19/28 | 1631882  |
| 185000 | Canadian Pacific Railway Co., Company Guaranteed Notes, 4.800% due 3/30/30 | 190437  |

---

See Notes to Financial Statements.

206<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Low Duration Fixed Income Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Industrial – (continued)**  | **Industrial – (continued)**  | **Industrial – (continued)**  |
| 200000 | Cemex SAB de CV, Subordinated Notes, 5.125% (5-Year CMT Index + 4.534%)<sup>(c)(g)</sup> | $199676  |
| 4000000<sup>NOK</sup> | Eqva ASA, Senior Secured Notes, 11.860% (3-Month NIBOR + 7.750%) due 2/4/30<sup>(a)(c)</sup> | 420696  |
|  | GATX Corp., Senior Unsecured Notes:<br>|  |
| 81000 | &nbsp;&nbsp;&nbsp; 4.700% due 4/1/29 | 82500  |
| 5000 | &nbsp;&nbsp;&nbsp; 4.000% due 6/30/30 | 4967  |
| 2845000 | Imola Merger Corp., Senior Secured Notes, 4.750% due 5/15/29<sup>(a)</sup> | 2796792  |
| 1530000 | Itron Inc., Senior Unsecured Notes, zero coupon, due 3/15/26 | 1516995  |
| 91000 | Jacobs Solutions Inc., Company Guaranteed Notes, 4.750% due 3/3/31 | 91139  |
| 111839 | Lima Metro Line 2 Finance Ltd., Senior Secured Notes, 5.875% due 7/5/34 | 115908  |
| 1050000 | LSB Industries Inc., Senior Secured Notes, 6.250% due 10/15/28<sup>(a)</sup> | 1055496  |
| 165000 | MasTec Inc., Company Guaranteed Notes, 4.500% due 8/15/28<sup>(a)</sup> | 164931  |
| 200000 | Mexico City Airport Trust, Senior Secured Notes, 3.875% due 4/30/28 | 197945  |
| 200000 | MISC Capital Two Labuan Ltd., Company Guaranteed Notes, 3.750% due 4/6/27 | 199327  |
| 67000 | Molex Electronic Technologies LLC, Senior Unsecured Notes, 4.750% due 4/30/28<sup>(a)</sup> | 67913  |
| 214000 | New Enterprise Stone & Lime Co., Inc., Senior Unsecured Notes, 9.750% due 7/15/28<sup>(a)</sup> | 215605  |
| 148000 | Northrop Grumman Corp., Senior Unsecured Notes, 4.650% due 7/15/30 | 151550  |
| 132000 | Northrop Grumman Systems Corp., Company Guaranteed Notes, 7.750% due 2/15/31 | 153289  |
| 159000 | Penske Truck Leasing Co. LP/PTL Finance Corp., Senior Unsecured Notes, 5.250% due 2/1/30<sup>(a)</sup> | 164671  |
| 157000 | Republic Services Inc., Senior Unsecured Notes, 4.750% due 7/15/30 | 161392  |
| 63000 | Ryder System Inc., Senior Unsecured Notes, 4.300% due 12/1/30 | 63272  |
| 63000 | Sonoco Products Co., Senior Unsecured Notes, 4.450% due 9/1/26 | 63121  |
| 35000 | Textron Inc., Senior Unsecured Notes, 3.900% due 9/17/29 | 34784  |
| 2077000 | XPO Inc., Senior Secured Notes, 6.250% due 6/1/28<sup>(a)</sup> | 2110392  |
|  | Total Industrial | 12462709  |
| **Technology – 5.3%**  | **Technology – 5.3%**  | **Technology – 5.3%**  |
| 76000 | Atlassian Corp., Senior Unsecured Notes, 5.250% due 5/15/29 | 77342  |
| 1400000<sup>EUR</sup> | Azerion Group NV, Senior Secured Notes, 7.516% (3-Month EURIBOR + 5.500%) due 10/2/29<sup>(c)</sup> | 1571534  |
| 67000 | Broadcom Inc., Senior Unsecured Notes, 4.350% due 2/15/30 | 67832  |
| 486000 | Dayforce Inc., Senior Unsecured Notes, 0.250% due 3/15/26 | 485028  |
| 155000 | Dell International LLC/EMC Corp., Company Guaranteed Notes, 4.500% due 2/15/31 | 155753  |
| 1216000 | Dropbox Inc., Senior Unsecured Notes, zero coupon, due 3/1/26 | 1214784  |
| 1115000 | Fair Isaac Corp., Senior Unsecured Notes, 5.250% due 5/15/26<sup>(a)</sup> | 1115127  |
| 252000 | Fiserv Inc., Senior Unsecured Notes, 4.750% due 3/15/30 | 253971  |
|  | Hewlett Packard Enterprise Co., Senior Unsecured Notes:<br>|  |
| 141000 | &nbsp;&nbsp;&nbsp; 4.050% due 9/15/27 | 141252  |
| 213000 | &nbsp;&nbsp;&nbsp; 4.550% due 10/15/29 | 215547  |

---

See Notes to Financial Statements.

207<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Low Duration Fixed Income Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Technology – (continued)**  | **Technology – (continued)**  | **Technology – (continued)**  |
| 18018500<sup>SEK</sup> | Impala BondCo PLC, Senior Secured Notes, 12.000% due 10/30/27<sup>(h)</sup> | $1197514  |
| 81000 | Marvell Technology Inc., Company Guaranteed Notes, 4.750% due 7/15/30 | 82579  |
| 63000 | Marvell Technology Inc., Senior Unsecured Notes, 5.750% due 2/15/29 | 65835  |
| 121000 | NXP BV/NXP Funding LLC/NXP USA Inc., Company Guaranteed Notes, 4.300% due 8/19/28 | 121810  |
|  | Oracle Corp., Senior Unsecured Notes:<br>|  |
| 1831000 | &nbsp;&nbsp;&nbsp; 2.650% due 7/15/26 | 1820036  |
| 1182000 | &nbsp;&nbsp;&nbsp; 3.250% due 11/15/27 | 1160675  |
| 75000 | Paychex Inc., Senior Unsecured Notes, 5.100% due 4/15/30 | 76594  |
| 49000 | Roper Technologies Inc., Senior Unsecured Notes, 4.250% due 9/15/28 | 49221  |
| 2653000 | SS&C Technologies Inc., Company Guaranteed Notes, 5.500% due 9/30/27<sup>(a)</sup> | 2649010  |
| 1800000<sup>EUR</sup> | Trustly AB, Senior Secured Notes, 8.776% (3-Month EURIBOR + 6.750%) due 10/8/30<sup>(c)</sup> | 1978008  |
|  | Total Technology | 14499452  |
| **Utilities – 1.0%**  | **Utilities – 1.0%**  | **Utilities – 1.0%**  |
| 147000 | American Electric Power Co., Inc., Senior Unsecured Notes, 5.200% due 1/15/29 | 152002  |
| 156000 | Black Hills Corp., Senior Unsecured Notes, 4.550% due 1/31/31 | 157561  |
| 50000 | CenterPoint Energy Inc., Senior Unsecured Notes, 5.400% due 6/1/29 | 52017  |
| 172000 | Chile Electricity Lux MPC SARL, Government Guaranteed Notes, 6.010% due 1/20/33 | 180799  |
| 222080 | Chile Electricity PEC SpA, Senior Secured Notes, zero coupon, due 1/25/28 | 201759  |
| 136000 | Constellation Energy Generation LLC, Senior Unsecured Notes, 3.900% due 1/8/28 | 136057  |
| 92000 | Dominion Energy Inc., Senior Unsecured Notes, 5.000% due 6/15/30 | 94847  |
| 95000 | DTE Energy Co., Senior Unsecured Notes, 5.200% due 4/1/30 | 98781  |
|  | Essential Utilities Inc., Senior Unsecured Notes:<br>|  |
| 63000 | &nbsp;&nbsp;&nbsp; 4.800% due 8/15/27 | 63669  |
| 4000 | &nbsp;&nbsp;&nbsp; 3.566% due 5/1/29 | 3939  |
| 157000 | Evergy Kansas Central Inc., Senior Unsecured Notes, 4.700% due 3/13/28 | 159307  |
| 98000 | Exelon Corp., Senior Unsecured Notes, 5.150% due 3/15/29 | 101301  |
| 4000 | FirstEnergy Transmission LLC, Senior Unsecured Notes, 4.550% due 1/15/30 | 4060  |
| 139000 | JSW Hydro Energy Ltd., Senior Secured Notes, 4.125% due 5/18/31 | 131319  |
| 207848 | Mexico Generadora de Energia S de rl, Senior Secured Notes, 5.500% due 12/6/32 | 210609  |
| 129800 | Minejesa Capital BV, Senior Secured Notes, 4.625% due 8/10/30 | 129843  |
| 78000 | National Fuel Gas Co., Senior Unsecured Notes, 5.500% due 3/15/30 | 81171  |
| 160000 | Niagara Mohawk Power Corp., Senior Unsecured Notes, 4.647% due 10/3/30<sup>(a)</sup> | 162504  |
| 159000 | NiSource Inc., Senior Unsecured Notes, 5.200% due 7/1/29 | 164647  |
| 200000 | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, Senior Unsecured Notes, 4.125% due 5/15/27 | 199642  |
| 44000 | Pinnacle West Capital Corp., Senior Unsecured Notes, 4.900% due 5/15/28 | 44854  |
| 150000 | Public Service Enterprise Group Inc., Senior Unsecured Notes, 5.875% due 10/15/28 | 156716  |

---

See Notes to Financial Statements.

208<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Low Duration Fixed Income Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Utilities – (continued)**  | **Utilities – (continued)**  | **Utilities – (continued)**  |
| 27000 | Southern Co. Gas Capital Corp., Company Guaranteed Notes, 4.050% due 9/15/28 | $27079  |
| 66000 | Southern Power Co., Senior Unsecured Notes, 4.250% due 10/1/30 | 66327  |
|  | Total Utilities | 2780810  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL CORPORATE BONDS & NOTES**<br>**(Cost – $102,715,555)** | **95980632**  |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 12.1%**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – 12.1%**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – 12.1%**  |
| **Mortgage Securities – 12.1%**  | **Mortgage Securities – 12.1%**  | **Mortgage Securities – 12.1%**  |
| 120000 | 1211 Avenue of the Americas Trust, Series 2015-1211, Class A1A1, 3.901% due 8/10/35<sup>(a)</sup> | 115200  |
| 200000 | &nbsp;&nbsp;&nbsp; 280 Park Avenue Mortgage Trust, Series 2017-280P, Class A, 4.849% <br>(1-Month TSFR + 1.180%) due 9/15/34<sup>(a)(c)</sup> | 199250  |
| 130350 | Angel Oak Mortgage Trust, Series 2020-6, Class A1, 1.261% due 5/25/65<sup>(a)(c)</sup> | 122291  |
| 183000 | Arbor Multifamily Mortgage Securities Trust, Series 2021-MF2, Class A2, 2.023% due 6/15/54<sup>(a)</sup> | 181447  |
| 120000 | ARDN Mortgage Trust, Series 2025-ARCP, Class A, 5.410% (1-Month TSFR + 1.750%) due 6/15/35<sup>(a)(c)</sup> | 120288  |
|  | BANK:<br>|  |
| 1202273 | &nbsp;&nbsp;&nbsp; Series 2017-BNK4, Class XA, 1.323% due 5/15/50<sup>(c)(i)</sup> | 12194  |
| 1372666 | &nbsp;&nbsp;&nbsp; Series 2017-BNK6, Class XA, 0.755% due 7/15/60<sup>(c)(i)</sup> | 9486  |
| 220000 | &nbsp;&nbsp;&nbsp; Series 2021-BN33, Class ASB, 2.218% due 5/15/64 | 210726  |
|  | BANK5:<br>|  |
| 206944 | &nbsp;&nbsp;&nbsp; Series 2024-5YR5, Class A3, 5.702% due 2/15/29 | 215181  |
| 229639 | &nbsp;&nbsp;&nbsp; Series 2024-5YR8, Class A1, 5.188% due 8/15/57 | 233550  |
| 4739750 | &nbsp;&nbsp;&nbsp; Series 2025-5YR19, Class XA, 1.127% due 12/15/58<sup>(c)(i)</sup> | 232697  |
| 652218 | Barclays Mortgage Loan Trust, Series 2025-NQM3, Class A3, step bond to yield, 5.945% due 5/25/65<sup>(a)</sup> | 660433  |
|  | BBCMS Mortgage Trust:<br>|  |
| 161459 | &nbsp;&nbsp;&nbsp; Series 2024-C24, Class A1, 5.229% due 2/15/57 | 163042  |
| 235554 | &nbsp;&nbsp;&nbsp; Series 2025-5C33, Class A1, 4.971% due 3/15/58 | 239422  |
|  | Benchmark Mortgage Trust:<br>|  |
| 9163160 | &nbsp;&nbsp;&nbsp; Series 2018-B4, Class XA, 0.461% due 7/15/51<sup>(c)(i)</sup> | 96022  |
| 147656 | &nbsp;&nbsp;&nbsp; Series 2019-B14, Class A2, 2.915% due 12/15/62 | 143548  |
| 3538693 | &nbsp;&nbsp;&nbsp; Series 2020-B16, Class XA, 0.910% due 2/15/53<sup>(c)(i)</sup> | 96431  |
| 235000 | &nbsp;&nbsp;&nbsp; Series 2024-V5, Class A3, 5.805% due 1/10/57 | 245104  |
| 227104 | &nbsp;&nbsp;&nbsp; Series 2024-V8, Class A1, 5.514% due 7/15/57 | 231424  |
| 280128 | &nbsp;&nbsp;&nbsp; Series 2025-V16, Class A1, 4.653% due 8/15/58 | 282236  |
| 4900000 | &nbsp;&nbsp;&nbsp; Series 2025-V19, Class XA, 1.105% due 1/15/58<sup>(c)(i)</sup> | 232760  |
| 325000 | &nbsp;&nbsp;&nbsp; Series 2026-B42, Class A1, 4.216% due 3/15/59 | 325280  |
| 150000 | BFLD Mortgage Trust, Series 2024-VICT, Class A, 5.550% (1-Month TSFR + 1.890%) due 7/15/41<sup>(a)(c)</sup> | 150188  |
| 274130 | &nbsp;&nbsp;&nbsp; BLP Commercial Mortgage Trust, Series 2024-IND2, Class A, 5.002% <br>(1-Month TSFR + 1.342%) due 3/15/41<sup>(a)(c)</sup> | 274130  |

---

See Notes to Financial Statements.

209<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Low Duration Fixed Income Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  |
| **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  |
|  | BMO Mortgage Trust:<br>|  |
| 106064 | &nbsp;&nbsp;&nbsp; Series 2023-C5, Class A1, 5.740% due 6/15/56 | $106960  |
| 228647 | &nbsp;&nbsp;&nbsp; Series 2024-5C4, Class A1, 6.017% due 5/15/57 | 234282  |
| 241000 | &nbsp;&nbsp;&nbsp; Series 2024-5C6, Class A2, 4.869% due 9/15/57 | 245890  |
| 240773 | &nbsp;&nbsp;&nbsp; Series 2024-C9, Class A1, 5.478% due 7/15/57 | 244877  |
|  | BRAVO Residential Funding Trust:<br>|  |
| 661262 | &nbsp;&nbsp;&nbsp; Series 2022-RPL1, Class A1, 2.750% due 9/25/61<sup>(a)(c)</sup> | 616416  |
| 332446 | &nbsp;&nbsp;&nbsp; Series 2023-NQM5, Class A1, step bond to yield, 6.505% due 6/25/63<sup>(a)</sup> | 333626  |
|  | BX Commercial Mortgage Trust:<br>|  |
| 62181 | &nbsp;&nbsp;&nbsp; Series 2021-21M, Class A, 4.504% (1-Month TSFR + 0.844%) due 10/15/36<sup>(a)(c)</sup> | 62162  |
| 104587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-ACNT, Class B, 5.024% (1-Month TSFR + 1.364%) due <br>11/15/38<sup>(a)(c)</sup> | 104555  |
| 86935 | &nbsp;&nbsp;&nbsp; Series 2021-XL2, Class A, 4.463% (1-Month TSFR + 0.803%) due 10/15/38<sup>(a)(c)</sup> | 86908  |
| 77000 | &nbsp;&nbsp;&nbsp; Series 2021-XL2, Class B, 4.772% (1-Month TSFR + 1.112%) due 10/15/38<sup>(a)(c)</sup> | 76976  |
| 24243 | &nbsp;&nbsp;&nbsp; Series 2022-LP2, Class A, 4.673% (1-Month TSFR + 1.013%) due 2/15/39<sup>(a)(c)</sup> | 24236  |
| 114994 | &nbsp;&nbsp;&nbsp; Series 2025-BCAT, Class A, 5.040% (1-Month TSFR + 1.380%) due 8/15/42<sup>(a)(c)</sup> | 115030  |
| 120000 | &nbsp;&nbsp;&nbsp; Series 2026-CSMO, Class A, 5.067% (1-Month TSFR + 1.400%) due 2/15/42<sup>(a)(c)</sup> | 120000  |
| 130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-XL6, Class A, 4.870% (1-Month TSFR + 1.200%) <br>due 3/15/43<sup>(a)(c)</sup> | 130082  |
| 160000 | BX Mortgage Trust, Series 2021-PAC, Class A, 4.464% (1-Month TSFR + 0.804%) due 10/15/36<sup>(a)(c)</sup> | 159700  |
|  | BX Trust:<br>|  |
| 160000 | &nbsp;&nbsp;&nbsp; Series 2021-LGCY, Class B, 4.629% (1-Month TSFR + 0.969%) due 10/15/36<sup>(a)(c)</sup> | 159900  |
| 160613 | &nbsp;&nbsp;&nbsp; Series 2021-RISE, Class A, 4.522% (1-Month TSFR + 0.862%) due 11/15/36<sup>(a)(c)</sup> | 160586  |
| 111357 | &nbsp;&nbsp;&nbsp; Series 2021-SDMF, Class B, 4.512% (1-Month TSFR + 0.852%) due 9/15/34<sup>(a)(c)</sup> | 111288  |
| 160000 | &nbsp;&nbsp;&nbsp; Series 2022-LBA6, Class A, 4.660% (1-Month TSFR + 1.000%) due 1/15/39<sup>(a)(c)</sup> | 160087  |
| 1546655 | &nbsp;&nbsp;&nbsp; Series 2025-LUNR, Class A, 5.160% (1-Month TSFR + 1.500%) due 6/15/40<sup>(a)(c)</sup> | 1548587  |
| 100000 | BXP Trust, Series 2017-GM, Class A, 3.379% due 6/13/39<sup>(a)</sup> | 98598  |
| 156581 | Cantor Commercial Real Estate Lending, Series 2019-CF1, Class A2, 3.623% due 5/15/52 | 154902  |
| 1209078 | CD Mortgage Trust, Series 2017-CD4, Class XA, 1.204% due 5/10/50<sup>(c)(i)</sup> | 9692  |
| 287000 | CFCRE Commercial Mortgage Trust, Series 2017-C8, Class XB, 0.864% due 6/15/50<sup>(c)(i)</sup> | 2508  |
|  | Citigroup Commercial Mortgage Trust:<br>|  |
| 187194 | &nbsp;&nbsp;&nbsp; Series 2016-P3, Class A4, 3.329% due 4/15/49 | 186420  |
| 200000 | &nbsp;&nbsp;&nbsp; Series 2016-P4, Class A4, 2.902% due 7/10/49 | 198966  |
| 231365 | &nbsp;&nbsp;&nbsp; Series 2017-P7, Class A3, 3.442% due 4/14/50 | 229870  |

---

See Notes to Financial Statements.

210<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Low Duration Fixed Income Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  |
| **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  |
| 73837 | COLT Mortgage Pass-Through Certificates, Series 2021-1R, Class A1, 0.857% due 5/25/65<sup>(a)(c)</sup> | $68083  |
| 494803 | COLT Trust, Series 2021-RPL1, Class A1, 1.665% due 9/25/61<sup>(a)(c)</sup> | 462478  |
| 227000 | &nbsp;&nbsp;&nbsp; Commercial Mortgage Trust, Series 2018-HCLV, Class A, 4.956% <br>(1-Month TSFR + 1.296%) due 9/15/33<sup>(a)(c)</sup> | 209359  |
| 362527 | Connecticut Avenue Securities Trust, Series 2024-R01, Class 1M1, 4.717% (SOFR30A + 1.050%) due 1/25/44<sup>(a)(c)</sup> | 362639  |
|  | Cross Mortgage Trust:<br>|  |
| 438217 | &nbsp;&nbsp;&nbsp; Series 2024-H1, Class A1, step bond to yield, 6.085% due 12/25/68<sup>(a)</sup> | 441635  |
| 526694 | &nbsp;&nbsp;&nbsp; Series 2024-H5, Class A1, step bond to yield, 5.854% due 8/26/69<sup>(a)</sup> | 532336  |
|  | CSAIL Commercial Mortgage Trust:<br>|  |
| 549525 | &nbsp;&nbsp;&nbsp; Series 2017-C8, Class XA, 1.050% due 6/15/50<sup>(c)(i)</sup> | 4456  |
| 3343838 | &nbsp;&nbsp;&nbsp; Series 2017-CX10, Class XA, 0.836% due 11/15/50<sup>(c)(i)</sup> | 39129  |
| 2915481 | &nbsp;&nbsp;&nbsp; Series 2018-CX12, Class XA, 0.545% due 8/15/51<sup>(c)(i)</sup> | 31760  |
|  | DBJPM Mortgage Trust:<br>|  |
| 200000 | &nbsp;&nbsp;&nbsp; Series 2016-C3, Class A5, 2.890% due 8/10/49 | 198933  |
| 15023 | &nbsp;&nbsp;&nbsp; Series 2020-C9, Class A2, 1.900% due 8/15/53 | 14994  |
| 170000 | Del Amo Fashion Center Trust, Series 2017-AMO, Class A, 3.636% due 6/5/35<sup>(a)(c)</sup> | 165801  |
| 904464 | Ellington Financial Mortgage Trust, Series 2022-3, Class A1, step bond to yield, 5.000% due 8/25/67<sup>(a)</sup> | 901708  |
| 166121 | EQUS Mortgage Trust, Series 2021-EQAZ, Class A, 4.679% (1-Month TSFR + 1.019%) due 10/15/38<sup>(a)(c)</sup> | 166121  |
|  | Federal Home Loan Mortgage Corp. (FHLMC), REMICS:<br>|  |
| 997072 | &nbsp;&nbsp;&nbsp; Series 4987, Class BF, 4.182% (SOFR30A + 0.514%) due 6/25/50<sup>(c)</sup> | 985696  |
| 362690 | &nbsp;&nbsp;&nbsp; Series 5475, Class FG, 4.817% (SOFR30A + 1.150%) due 11/25/54<sup>(c)</sup> | 365108  |
| 692714 | &nbsp;&nbsp;&nbsp; Series 5512, Class FA, 4.567% (SOFR30A + 0.900%) due 3/25/55<sup>(c)</sup> | 692738  |
| 195138 | &nbsp;&nbsp;&nbsp; Series 5524, Class AF, 4.867% (SOFR30A + 1.200%) due 4/25/55<sup>(c)</sup> | 196617  |
| 566123 | &nbsp;&nbsp;&nbsp; Series 5596, Class FH, 4.867% (SOFR30A + 1.200%) due 11/25/55<sup>(c)</sup> | 569074  |
| 331000 | &nbsp;&nbsp;&nbsp; Series 5638, Class AF, 4.679% (SOFR30A + 1.000%) due 3/25/56<sup>(c)</sup> | 331642  |
|  | Federal National Mortgage Association (FNMA), Aces:<br>|  |
| 875026 | &nbsp;&nbsp;&nbsp; Series 2020-M49, Class 1A1, 1.255% due 11/25/30<sup>(c)</sup> | 826641  |
| 122047 | &nbsp;&nbsp;&nbsp; Series 2021-M7, Class A1, 1.708% due 3/25/31<sup>(c)</sup> | 118213  |
| 897347 | Government National Mortgage Association (GNMA), Series 2025-211, Class FD, 4.762% (SOFR30A + 1.100%) due 12/20/55<sup>(c)</sup> | 902138  |
| 150000 | Great Wolf Trust, Series 2024-WOLF, Class A, 5.202% (1-Month TSFR + 1.542%) due 3/15/39<sup>(a)(c)</sup> | 150047  |
| 250000 | GS Mortgage Securities Corp. Trust, Series 2023-SHIP, Class A, 4.322% due 9/10/38<sup>(a)(c)</sup> | 249686  |
|  | GS Mortgage Securities Trust:<br>|  |
| 3250880 | &nbsp;&nbsp;&nbsp; Series 2016-GS4, Class XA, 0.499% due 11/10/49<sup>(c)(i)</sup> | 2996  |
| 1632953 | &nbsp;&nbsp;&nbsp; Series 2017-GS6, Class XA, 0.993% due 5/10/50<sup>(c)(i)</sup> | 14371  |
| 3092368 | &nbsp;&nbsp;&nbsp; Series 2017-GS8, Class XA, 0.925% due 11/10/50<sup>(c)(i)</sup> | 31970  |

---

See Notes to Financial Statements.

211<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Low Duration Fixed Income Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  |
| **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  |
| 273411 | JP Morgan Chase Commercial Mortgage Securities Trust, Series 2016-JP2, Class A4, 2.822% due 8/15/49 | $272107  |
| 277558 | JPMBB Commercial Mortgage Securities Trust, Series 2015-C32, Class XA, 1.097% due 11/15/48<sup>(c)(i)</sup> | 23  |
| 276388 | Legacy Mortgage Asset Trust, Series 2021-GS4, Class A1, step bond to yield, 5.650% due 11/25/60<sup>(a)</sup> | 276647  |
| 100000 | LEX Trust, Series 2026-450, Class A, 5.000% (1-Month TSFR + 1.350%) due 3/15/43<sup>(a)(c)</sup> | 99969  |
|  | MFA Trust:<br>|  |
| 379566 | &nbsp;&nbsp;&nbsp; Series 2023-NQM3, Class A1, step bond to yield, 6.617% due 7/25/68<sup>(a)</sup> | 381387  |
| 1130600 | &nbsp;&nbsp;&nbsp; Series 2025-NQM4, Class A3, step bond to yield, 5.685% due 8/25/70<sup>(a)</sup> | 1137718  |
|  | Morgan Stanley Capital I Trust:<br>|  |
| 786094 | &nbsp;&nbsp;&nbsp; Series 2016-UB11, Class XA, 1.390% due 8/15/49<sup>(c)(i)</sup> | 1239  |
| 3153513 | &nbsp;&nbsp;&nbsp; Series 2016-UB12, Class XA, 0.639% due 12/15/49<sup>(c)(i)</sup> | 4890  |
| 759474 | &nbsp;&nbsp;&nbsp; Series 2017-H1, Class XA, 1.295% due 6/15/50<sup>(c)(i)</sup> | 8709  |
| 121328 | &nbsp;&nbsp;&nbsp; Series 2021-L6, Class A2, 2.126% due 6/15/54<sup>(c)</sup> | 119195  |
| 145860 | &nbsp;&nbsp;&nbsp; Series 2024-NSTB, Class A, 3.900% due 9/24/57<sup>(a)(c)</sup> | 144007  |
|  | New Residential Mortgage Loan Trust:<br>|  |
| 645815 | &nbsp;&nbsp;&nbsp; Series 2019-RPL3, Class A1, 2.750% due 7/25/59<sup>(a)(c)</sup> | 629233  |
| 99747 | &nbsp;&nbsp;&nbsp; Series 2020-NQM1, Class A2, 2.718% due 1/26/60<sup>(a)(c)</sup> | 95438  |
| 1000333 | &nbsp;&nbsp;&nbsp; Series 2024-NQM1, Class A1, step bond to yield, 6.129% due 3/25/64<sup>(a)</sup> | 1009626  |
| 120000 | NJ, Series 2025-WBRK, Class A, 5.867% due 3/5/35<sup>(a)(c)</sup> | 125674  |
|  | OBX Trust:<br>|  |
| 490056 | &nbsp;&nbsp;&nbsp; Series 2022-NQM1, Class A1, 2.305% due 11/25/61<sup>(a)(c)</sup> | 452390  |
| 604275 | &nbsp;&nbsp;&nbsp; Series 2023-NQM1, Class A1, 6.120% due 11/25/62<sup>(a)(c)</sup> | 605068  |
| 520872 | &nbsp;&nbsp;&nbsp; Series 2024-NQM5, Class A1, step bond to yield, 5.988% due 1/25/64<sup>(a)</sup> | 525722  |
| 549082 | &nbsp;&nbsp;&nbsp; Series 2024-NQM7, Class A1, step bond to yield, 6.243% due 3/25/64<sup>(a)</sup> | 555743  |
| 503935 | &nbsp;&nbsp;&nbsp; Series 2025-NQM14, Class A3, step bond to yield, 5.618% due 7/25/65<sup>(a)</sup> | 507274  |
| 752804 | &nbsp;&nbsp;&nbsp; Series 2025-NQM7, Class A1, step bond to yield, 5.560% due 5/25/55<sup>(a)</sup> | 761357  |
| 100000 | &nbsp;&nbsp;&nbsp; PLYM Commercial Mortgage Trust, Series 2026-IND, Class A, 4.900% <br>(1-Month TSFR + 1.250%) due 3/15/43<sup>(a)(c)</sup> | 100000  |
| 708924 | PRPM Trust, Series 2025-NQM2, Class A1, step bond to yield, 5.688% due 4/25/70<sup>(a)</sup> | 716112  |
| 330000 | &nbsp;&nbsp;&nbsp; SDR Commercial Mortgage Trust, Series 2024-DSNY, Class A, 5.051% <br>(1-Month TSFR + 1.392%) due 5/15/39<sup>(a)(c)</sup> | 329794  |
|  | SREIT Trust:<br>|  |
| 176157 | &nbsp;&nbsp;&nbsp; Series 2021-MFP, Class A, 4.505% (1-Month TSFR + 0.845%) due 11/15/38<sup>(a)(c)</sup> | 176102  |
| 120000 | &nbsp;&nbsp;&nbsp; Series 2021-MFP2, Class A, 4.596% (1-Month TSFR + 0.936%) due 11/15/36<sup>(a)(c)</sup> | 119962  |
| 691337 | UBS Commercial Mortgage Trust, Series 2017-C1, Class XA, 1.457% due 6/15/50<sup>(c)(i)</sup> | 7287  |

---

See Notes to Financial Statements.

212<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Low Duration Fixed Income Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  |
| **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  |
|  | Velocity Commercial Capital Loan Trust:<br>|  |
| 676433 | &nbsp;&nbsp;&nbsp; Series 2021-2, Class A, 1.520% due 8/25/51<sup>(a)(c)</sup> | $588658  |
| 264464 | &nbsp;&nbsp;&nbsp; Series 2021-2, Class M1, 1.820% due 8/25/51<sup>(a)(c)</sup> | 220292  |
| 696811 | &nbsp;&nbsp;&nbsp; Series 2024-5, Class A, 5.490% due 10/25/54<sup>(a)(c)</sup> | 703362  |
| 851857 | &nbsp;&nbsp;&nbsp; Series 2025-4, Class A, 5.190% due 9/25/55<sup>(a)(c)</sup> | 860458  |
|  | Verus Securitization Trust:<br>|  |
| 406143 | &nbsp;&nbsp;&nbsp; Series 2021-7, Class A1, step bond to yield, 2.829% due 10/25/66<sup>(a)</sup> | 381053  |
| 59118 | &nbsp;&nbsp;&nbsp; Series 2021-R1, Class A2, 1.057% due 10/25/63<sup>(a)(c)</sup> | 57569  |
| 381344 | &nbsp;&nbsp;&nbsp; Series 2023-INV2, Class A1, step bond to yield, 6.443% due 8/25/68<sup>(a)</sup> | 382584  |
| 337492 | &nbsp;&nbsp;&nbsp; Series 2024-1, Class A1, step bond to yield, 5.712% due 1/25/69<sup>(a)</sup> | 339334  |
| 704699 | &nbsp;&nbsp;&nbsp; Series 2024-2, Class A1, step bond to yield, 6.095% due 2/25/69<sup>(a)</sup> | 711037  |
| 35025 | Vista Point Securitization Trust, Series 2020-2, Class A1, 1.475% due 4/25/65<sup>(a)(c)</sup> | 34148  |
|  | Wells Fargo Commercial Mortgage Trust:<br>|  |
| 169672 | &nbsp;&nbsp;&nbsp; Series 2015-NXS2, Class XA, 0.000% due 7/15/58<sup>#(c)(i)</sup> | 2  |
| 164932 | &nbsp;&nbsp;&nbsp; Series 2021-C60, Class A2, 2.042% due 8/15/54 | 163198  |
| 14850 | &nbsp;&nbsp;&nbsp; Series 2021-SAVE, Class A, 5.274% (1-Month TSFR + 1.614%) due 2/15/40<sup>(a)(c)</sup> | 14813  |
|  | Total Mortgage Securities | 33130984  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS**<br>**(Cost – $35,408,520)** | **33130984**  |
| **U.S. GOVERNMENT AGENCIES & OBLIGATIONS – 10.4%**  | **U.S. GOVERNMENT AGENCIES & OBLIGATIONS – 10.4%**  | **U.S. GOVERNMENT AGENCIES & OBLIGATIONS – 10.4%**  |
| **U.S. GOVERNMENT OBLIGATIONS – 10.4%**  | **U.S. GOVERNMENT OBLIGATIONS – 10.4%**  | **U.S. GOVERNMENT OBLIGATIONS – 10.4%**  |
| 241035 | U.S. Treasury Inflation Indexed Bonds, 2.375% due 1/15/27 | 244506  |
|  | U.S. Treasury Inflation Indexed Notes:<br>|  |
| 367270 | &nbsp;&nbsp;&nbsp; 0.125% due 4/15/27 | 364198  |
| 185968 | &nbsp;&nbsp;&nbsp; 1.625% due 10/15/27 | 188974  |
|  | U.S. Treasury Notes:<br>|  |
| 4450000 | &nbsp;&nbsp;&nbsp; 0.500% due 6/30/27 | 4279996  |
| 2500000 | &nbsp;&nbsp;&nbsp; 3.500% due 10/31/27 | 2502832  |
| 11300000 | &nbsp;&nbsp;&nbsp; 0.750% due 1/31/28 | 10751332  |
| 5500000 | &nbsp;&nbsp;&nbsp; 3.500% due 11/15/28 | 5515684  |
| 2299000 | &nbsp;&nbsp;&nbsp; 3.500% due 1/15/29 | 2306005  |
| 2800000 | &nbsp;&nbsp;&nbsp; 0.875% due 11/15/30 | 2482484  |
|  | **TOTAL U.S. GOVERNMENT OBLIGATIONS** | **28636011**  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL U.S. GOVERNMENT AGENCIES & OBLIGATIONS**<br>**(Cost – $28,512,318)** | **28636011**  |
| **COLLATERALIZED LOAN OBLIGATIONS – 5.8%**  | **COLLATERALIZED LOAN OBLIGATIONS – 5.8%**  | **COLLATERALIZED LOAN OBLIGATIONS – 5.8%**  |
| **Commercial MBS – 1.9%**  | **Commercial MBS – 1.9%**  | **Commercial MBS – 1.9%**  |
| 180000 | ACREC LLC, Series 2026-FL4, Class A, 5.114% (1-Month TSFR + 1.450%) due 1/18/43<sup>(a)(c)</sup> | 180225  |
| 88988 | ACREC Ltd., Series 2021-FL1, Class AS, 5.281% (1-Month TSFR + 1.614%) due 10/16/36<sup>(a)(c)</sup> | 88996  |
| 210000 | Arbor Realty Commercial Real Estate Notes LLC, Series 2025-FL1, Class A, 5.021% (1-Month TSFR + 1.354%) due 1/20/43<sup>(a)(c)</sup> | 210019  |

---

See Notes to Financial Statements.

213<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Low Duration Fixed Income Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **COLLATERALIZED LOAN OBLIGATIONS – (continued)**  | **COLLATERALIZED LOAN OBLIGATIONS – (continued)**  | **COLLATERALIZED LOAN OBLIGATIONS – (continued)**  |
| **Commercial MBS – (continued)**  | **Commercial MBS – (continued)**  | **Commercial MBS – (continued)**  |
| 111480 | Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL4, Class A, 5.124% (1-Month TSFR + 1.464%) due 11/15/36<sup>(a)(c)</sup> | $111491  |
| 190000 | AREIT, Series 2025-CRE11, Class A, 5.210% (1-Month TSFR + 1.550%) due 7/25/43<sup>(a)(c)</sup> | 190375  |
| 52154 | BDS Ltd., Series 2021-FL10, Class A, 5.131% (1-Month TSFR + 1.464%) due 12/16/36<sup>(a)(c)</sup> | 52160  |
|  | BRSP Ltd:<br>|  |
| 240000 | &nbsp;&nbsp;&nbsp; Series 2026-FL3, Class A, 5.150% (1-Month TSFR + 1.450%) due 8/19/43<sup>(a)(c)</sup> | 240133  |
| 277000 | &nbsp;&nbsp;&nbsp; Series 2024-FL2, Class A, 5.612% (1-Month TSFR + 1.945%) due 8/19/37<sup>(a)(c)</sup> | 277347  |
| 150000 | BSPDF Issuer LLC, Series 2026-FL3, Class A, 5.100% (1-Month TSFR + 1.450%) due 9/18/43<sup>(a)(c)</sup> | 150000  |
|  | BSPRT Issuer Ltd.:<br>|  |
| 9900 | &nbsp;&nbsp;&nbsp; Series 2022-FL8, Class A, 5.158% (SOFR30A + 1.500%) due 2/15/37<sup>(a)(c)</sup> | 9874  |
| 200465 | &nbsp;&nbsp;&nbsp; Series 2023-FL10, Class A, 5.919% (1-Month TSFR + 2.259%) due 9/15/35<sup>(a)(c)</sup> | 200324  |
| 240000 | BXMT Ltd., Series 2026-FL6, Class A, 5.150% (1-Month TSFR + 1.450%) due 8/19/43<sup>(a)(c)</sup> | 240150  |
|  | FS Rialto:<br>|  |
| 159285 | &nbsp;&nbsp;&nbsp; Series 2021-FL3, Class A, 5.024% (1-Month TSFR + 1.364%) due 11/16/36<sup>(a)(c)</sup> | 158974  |
| 118601 | &nbsp;&nbsp;&nbsp; Series 2021-FL2, Class A, 4.994% (1-Month TSFR + 1.334%) due 5/16/38<sup>(a)(c)</sup> | 119065  |
| 230000 | FS Rialto Issuer LLC, Series 2026-FL11, Class A, 0.000% (1-Month TSFR + 1.450%) due 1/19/44<sup>#(a)(c)</sup> | 230791  |
|  | GPMT Ltd.:<br>|  |
| 108763 | &nbsp;&nbsp;&nbsp; Series 2021-FL3, Class AS, 5.631% (1-Month TSFR + 1.964%) due 7/16/35<sup>(a)(c)</sup> | 108493  |
| 172142 | &nbsp;&nbsp;&nbsp; Series 2021-FL4, Class A, 5.138% (1-Month TSFR + 1.464%) due 12/15/36<sup>(a)(c)</sup> | 171725  |
| 39801 | &nbsp;&nbsp;&nbsp; Greystone CRE Notes Ltd., Series 2021-FL3, Class A, 4.799% <br>(1-Month TSFR + 1.134%) due 7/15/39<sup>(a)(c)</sup> | 39780  |
| 250000 | INCREF LLC, Series 2025-FL1, Class A, 5.394% (1-Month TSFR + 1.728%) due 10/19/42<sup>(a)(c)</sup> | 250730  |
|  | KREF Ltd.:<br>|  |
| 81724 | &nbsp;&nbsp;&nbsp; Series 2021-FL2, Class A, 4.849% (1-Month TSFR + 1.184%) due 2/15/39<sup>(a)(c)</sup> | 81700  |
| 220000 | &nbsp;&nbsp;&nbsp; Series 2021-FL2, Class B, 5.429% (1-Month TSFR + 1.764%) due 2/15/39<sup>(a)(c)</sup> | 218097  |
| 250000 | LMNT CRE LLC, Series 2025-FL3, Class A, 5.227% (1-Month TSFR + 1.550%) due 7/21/43<sup>(a)(c)</sup> | 250779  |
| 230000 | &nbsp;&nbsp;&nbsp; LoanCore Issuer LLC, Series 2025-CRE9, Class A, 5.114% (1-Month TSFR + 1.450%) <br>due 8/18/42<sup>(a)(c)</sup> | 230269  |
| 53904 | LoanCore Issuer Ltd., Series 2021-CRE6, Class A, 5.074% (1-Month TSFR + 1.414%) due 11/15/38<sup>(a)(c)</sup> | 53859  |
| 250000 | MF1, Series 2024-FL15, Class A, 5.352% (1-Month TSFR + 1.688%) due 8/18/41<sup>(a)(c)</sup> | 250927  |
| 240000 | MF1 LLC, Series 2026-FL21, Class A, 5.014% (1-Month TSFR + 1.350%) due 2/18/41<sup>(a)(c)</sup> | 240004  |
|  | MF1 Ltd.:<br>|  |
| 330000 | &nbsp;&nbsp;&nbsp; Series 2021-FL7, Class AS, 5.231% (1-Month TSFR + 1.564%) due 10/16/36<sup>(a)(c)</sup> | 329552  |
| 38140 | &nbsp;&nbsp;&nbsp; Series 2022-FL8, Class A, 5.017% (1-Month TSFR + 1.350%) due 2/19/37<sup>(a)(c)</sup> | 38132  |

---

See Notes to Financial Statements.

214<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Low Duration Fixed Income Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **COLLATERALIZED LOAN OBLIGATIONS – (continued)**  | **COLLATERALIZED LOAN OBLIGATIONS – (continued)**  | **COLLATERALIZED LOAN OBLIGATIONS – (continued)**  |
| **Commercial MBS – (continued)**  | **Commercial MBS – (continued)**  | **Commercial MBS – (continued)**  |
| 160000 | PFP Ltd., Series 2026-13, Class A, 5.166% (1-Month TSFR + 1.500%) due 8/18/43<sup>(a)(c)</sup> | $160650  |
| 81097 | STWD Ltd., Series 2021-FL2, Class A, 4.981% (1-Month TSFR + 1.314%) due 4/18/38<sup>(a)(c)</sup> | 80445  |
| 163070 | TRTX Issuer Ltd., Series 2022-FL5, Class A, 5.314% (1-Month TSFR + 1.650%) due 2/15/39<sup>(a)(c)</sup> | 162493  |
|  | Total Commercial MBS | 5127559  |
| **Other ABS – 3.9%**  | **Other ABS – 3.9%**  | **Other ABS – 3.9%**  |
| 500000 | &nbsp;&nbsp;&nbsp; Bain Capital Credit CLO Ltd., Series 2022-6A, Class A1R, 5.039% <br>(3-Month TSFR + 1.370%) due 1/22/38<sup>(a)(c)</sup> | 501622  |
| 500000 | &nbsp;&nbsp;&nbsp; Benefit Street Partners CLO 46 Ltd., Series 2025-46A, Class A, 4.881% <br>(3-Month TSFR + 1.210%) due 1/25/39<sup>(a)(c)</sup> | 500185  |
|  | Carlyle US CLO Ltd.:<br>|  |
| 1000000 | &nbsp;&nbsp;&nbsp; Series 2019-4A, Class A11R, 4.992% (3-Month TSFR + 1.320%) due 4/15/35<sup>(a)(c)</sup> | 1002223  |
| 1000000 | &nbsp;&nbsp;&nbsp; Series 2023-3A, Class A1R, 4.902% (3-Month TSFR + 1.230%) due 10/15/38<sup>(a)(c)</sup> | 1000983  |
| 500000 | CarVal CLO IX-C Ltd., Series 2024-1A, Class A, 5.348% (3-Month TSFR + 1.680%) due 4/20/37<sup>(a)(c)</sup> | 501647  |
| 1421000 | &nbsp;&nbsp;&nbsp; Flatiron RR CLO 22 LLC, Series 2021-2A, Class AR, 4.582% <br>(3-Month TSFR + 0.910%) due 10/15/34<sup>(a)(c)</sup> | 1421841  |
| 500000 | &nbsp;&nbsp;&nbsp; Franklin Park Place CLO I LLC, Series 2022-1A, Class AR, 4.917% <br>(3-Month TSFR + 1.250%) due 4/14/38<sup>(a)(c)(f)</sup> | 500713  |
| 1962 | Greywolf CLO VII Ltd., Series 2018-2A, Class A1, 5.109% (3-Month TSFR + 1.442%) due 10/20/31<sup>(a)(c)</sup> | 1964  |
| 500000 | &nbsp;&nbsp;&nbsp; Halseypoint CLO 5 Ltd., Series 2021-5A, Class A1A, 5.138% <br>(3-Month TSFR + 1.472%) due 1/30/35<sup>(a)(c)</sup> | 501137  |
| 1000000 | &nbsp;&nbsp;&nbsp; Madison Park Funding LXIII Ltd., Series 2023-63A, Class A1R, 5.070% <br>(3-Month TSFR + 1.400%) due 7/21/38<sup>(a)(c)</sup> | 1004457  |
| 1000000 | OCP CLO Ltd., Series 2024-31A, Class AR, 0.000% (3-Month TSFR + 1.150%) due 4/20/39<sup>#(a)(c)(f)</sup> | 999995  |
| 1000000 | &nbsp;&nbsp;&nbsp; Octagon Investment Partners 51 Ltd., Series 2021-1A, Class AR, 4.658% <br>(3-Month TSFR + 0.990%) due 7/20/34<sup>(a)(c)</sup> | 999500  |
| 1000000 | &nbsp;&nbsp;&nbsp; Rockford Tower CLO Ltd., Series 2024-1A, Class A1, 5.278% <br>(3-Month TSFR + 1.610%) due 4/20/37<sup>(a)(c)</sup> | 1003230  |
| 269178 | &nbsp;&nbsp;&nbsp; Sound Point CLO VI-R Ltd., Series 2014-2RA, Class A, 5.179% <br>(3-Month TSFR + 1.512%) due 10/20/31<sup>(a)(c)</sup> | 269766  |
| 9201 | Steele Creek CLO Ltd., Series 2018-2A, Class A, 5.117% (3-Month TSFR + 1.462%) due 8/18/31<sup>(a)(c)</sup> | 9210  |
| 500000 | &nbsp;&nbsp;&nbsp; Unity-Peace Park CLO Ltd., Series 2022-1A, Class A1R, 4.723% <br>(3-Month TSFR + 1.060%) due 4/20/35<sup>(a)(c)</sup> | 500348  |
|  | Total Other ABS | 10718821  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL COLLATERALIZED LOAN OBLIGATIONS**<br>**(Cost – $15,789,156)** | **15846380**  |

---

See Notes to Financial Statements.

215<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Low Duration Fixed Income Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **ASSET-BACKED SECURITIES – 3.9%**  | **ASSET-BACKED SECURITIES – 3.9%**  | **ASSET-BACKED SECURITIES – 3.9%**  |
| **Automobile ABS – 0.7%**  | **Automobile ABS – 0.7%**  | **Automobile ABS – 0.7%**  |
| 175000 | CarMax Auto Owner Trust, Series 2026-1, Class A2A, 3.870% due 4/16/29 | $175202  |
| 300000 | Carvana Auto Receivables Trust, Series 2024-P3, Class A4, 4.310% due 9/10/30 | 303260  |
| 245850 | GLS Auto Select Receivables Trust, Series 2024-3A, Class A2, 5.590% due 10/15/29<sup>(a)</sup> | 248433  |
| 992000 | Hertz Vehicle Financing III LLC, Series 2025-1A, Class A, 4.910% due 9/25/29<sup>(a)</sup> | 1009984  |
| 250000 | Santander Drive Auto Receivables Trust, Series 2024-5, Class C, 4.780% due 1/15/31 | 252544  |
|  | Total Automobile ABS | 1989423  |
| **Other ABS – 2.9%**  | **Other ABS – 2.9%**  | **Other ABS – 2.9%**  |
|  | Affirm Asset Securitization Trust:<br>|  |
| 56583 | &nbsp;&nbsp;&nbsp; Series 2025-X1, Class A, 5.080% due 4/15/30<sup>(a)</sup> | 56656  |
| 152634 | &nbsp;&nbsp;&nbsp; Series 2025-X2, Class A, 4.450% due 10/15/30<sup>(a)</sup> | 152809  |
| 10951 | Aqua Finance Trust, Series 2020-AA, Class A, 1.900% due 7/17/46<sup>(a)</sup> | 10426  |
| 500000 | Avant Loans Funding Trust, Series 2024-REV1, Class A, 5.920% due 10/15/33<sup>(a)</sup> | 501550  |
| 268021 | CAL Funding IV Ltd., Series 2020-1A, Class A, 2.220% due 9/25/45<sup>(a)</sup> | 258242  |
| 500000 | DataBank Issuer, Series 2023-1A, Class A2, 5.116% due 2/25/53<sup>(a)</sup> | 499843  |
| 470000 | Domino's Pizza Master Issuer LLC, Series 2017-1A, Class A23, 4.118% due 7/25/47<sup>(a)</sup> | 468802  |
| 173164 | GreenSky Home Improvement Issuer Trust, Series 2025-3A, Class A1, 4.340% due 12/27/60<sup>(a)</sup> | 173494  |
| 72114 | Hilton Grand Vacations Trust, Series 2020-AA, Class A, 2.740% due 2/25/39<sup>(a)</sup> | 71050  |
| 321907 | Lunar Structured Aircraft Portfolio Notes, Series 2021-1, Class A, 2.636% due 10/15/46<sup>(a)</sup> | 309546  |
| 798353 | Lyra Music Assets Delaware LP, Series 2025-1A, Class A2, 5.604% due 9/20/65<sup>(a)</sup> | 809612  |
| 250000 | Mariner Finance Issuance Trust, Series 2025-AA, Class A, 4.980% due 5/20/38<sup>(a)</sup> | 254399  |
| 200000 | Marlette Funding Trust, Series 2025-1A, Class B, 4.950% due 7/16/35<sup>(a)</sup> | 200919  |
|  | Pagaya AI Debt Grantor Trust:<br>|  |
| 249974 | &nbsp;&nbsp;&nbsp; Series 2025-2, Class B, 5.329% due 10/15/32<sup>(a)</sup> | 250916  |
| 368258 | &nbsp;&nbsp;&nbsp; Series 2025-3, Class A2, 5.365% due 12/15/32<sup>(a)</sup> | 372586  |
|  | RCKTL:<br>|  |
| 175895 | &nbsp;&nbsp;&nbsp; Series 2025-2A, Class A, 4.480% due 11/27/34<sup>(a)</sup> | 176069  |
| 250000 | &nbsp;&nbsp;&nbsp; Series 2025-2A, Class C, 4.950% due 11/27/34<sup>(a)</sup> | 251008  |
| 159213 | Reach ABS Trust, Series 2025-2A, Class A, 4.930% due 8/18/32<sup>(a)</sup> | 159937  |
| 317945 | Slam Ltd., Series 2024-1A, Class A, 5.335% due 9/15/49<sup>(a)</sup> | 324746  |
|  | SoFi Consumer Loan Program Trust:<br>|  |
| 182240 | &nbsp;&nbsp;&nbsp; Series 2025-1, Class A, 4.800% due 2/27/34<sup>(a)</sup> | 183159  |
| 250000 | Series 2025-2, Class B, 4.970% due 6/25/34<sup>(a)</sup> | 253896  |
| 125852 | &nbsp;&nbsp;&nbsp; Series 2025-3, Class A, 4.470% due 8/15/34<sup>(a)</sup> | 126202  |
| 149013 | &nbsp;&nbsp;&nbsp; Series 2025-4, Class A, 4.240% due 8/25/35<sup>(a)</sup> | 149295  |
| 475000 | &nbsp;&nbsp;&nbsp; Series 2026-1, Class A, 4.060% due 12/26/35<sup>(a)</sup> | 475255  |
| 427762 | Tesla Sustainable Energy Trust, Series 2024-1A, Class A2, 5.080% due 6/21/50<sup>(a)</sup> | 429769  |
| 229706 | Upgrade Master Pass-Thru Trust, Series 2025-ST7, Class A, 4.546% due 11/15/32<sup>(a)</sup> | 229952  |

---

See Notes to Financial Statements.

216<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Low Duration Fixed Income Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **ASSET-BACKED SECURITIES – (continued)**  | **ASSET-BACKED SECURITIES – (continued)**  | **ASSET-BACKED SECURITIES – (continued)**  |
| **Other ABS – (continued)**  | **Other ABS – (continued)**  | **Other ABS – (continued)**  |
|  | Upstart Securitization Trust:<br>|  |
| 86243 | &nbsp;&nbsp;&nbsp; Series 2024-1, Class A, 5.330% due 11/20/34<sup>(a)</sup> | $86601  |
| 134037 | &nbsp;&nbsp;&nbsp; Series 2025-1, Class A, 5.450% due 4/20/35<sup>(a)</sup> | 135171  |
| 242440 | &nbsp;&nbsp;&nbsp; Series 2025-3, Class A2, 4.600% due 9/20/35<sup>(a)</sup> | 242841  |
| 98593 | &nbsp;&nbsp;&nbsp; Series 2025-4, Class A1, 4.344% due 11/20/26<sup>(a)</sup> | 98616  |
| 205000 | Vantage Data Centers Issuer LLC, Series 2021-1A, Class A2, 2.165% due 10/15/46<sup>(a)</sup> | 201474  |
|  | Total Other ABS | 7914841  |
| **Student Loan ABS – 0.1%**  | **Student Loan ABS – 0.1%**  | **Student Loan ABS – 0.1%**  |
| 98323 | Commonbond Student Loan Trust, Series 2020-AGS, Class A, 1.980% due 8/25/50<sup>(a)</sup> | 89398  |
|  | Navient Private Education Refi Loan Trust:<br>|  |
| 34438 | &nbsp;&nbsp;&nbsp; Series 2020-GA, Class A, 1.170% due 9/16/69<sup>(a)</sup> | 32615  |
| 217881 | &nbsp;&nbsp;&nbsp; Series 2022-A, Class A, 2.230% due 7/15/70<sup>(a)</sup> | 202101  |
|  | Total Student Loan ABS | 324114  |
| **WL Collateral CMO – 0.2%** | **WL Collateral CMO – 0.2%** | **WL Collateral CMO – 0.2%** |
| 488045 | &nbsp;&nbsp;&nbsp; First Franklin Mortgage Loan Trust, Series 2003-FF2, Class M1, 5.586% <br>(1-Month TSFR + 1.914%) due 7/25/33<sup>(c)</sup> | 484789  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL ASSET-BACKED SECURITIES**<br>**(Cost – $10,595,581)** | **10713167**  |
| **SENIOR LOANS – 3.4%** | **SENIOR LOANS – 3.4%** | **SENIOR LOANS – 3.4%** |
| **United Kingdom – 0.5%**  | **United Kingdom – 0.5%**  | **United Kingdom – 0.5%**  |
| 1569502 | 888 Holdings PLC, due 7/3/28<sup>(j)</sup> | 1465522  |
| **United States – 2.9%**  | **United States – 2.9%**  | **United States – 2.9%**  |
| 2047374 | DISH DBS Issuer LLC, 11.250% (1-Month USD-SOFR + 1.125%) due 6/29/29 | 2055563  |
| 2851239 | K&N Parent Inc., 11.787% (1-Month USD-SOFR + 0.800%) due 2/3/27<sup>(d)(f)</sup> | 2836984  |
| 2922113 | Marelli North America Inc., due 3/13/26<sup>(j)</sup> | 2980555  |
|  | Total United States | 7873102  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL SENIOR LOANS** <br>**(Cost – $9,331,915)** | **9338624**  |
| **MORTGAGE-BACKED SECURITIES – 1.3%**  | **MORTGAGE-BACKED SECURITIES – 1.3%**  | **MORTGAGE-BACKED SECURITIES – 1.3%**  |
| **FHLMC – 0.7%**  | **FHLMC – 0.7%**  | **FHLMC – 0.7%**  |
|  | Freddie Mac Pool:<br>|  |
| 804603 | &nbsp;&nbsp;&nbsp; 5.000% due 6/1/53 | 812439  |
| 276996 | &nbsp;&nbsp;&nbsp; 5.500% due 7/1/53 | 282495  |
| 397350 | &nbsp;&nbsp;&nbsp; 5.500% due 2/1/55 | 408785  |
| 407634 | &nbsp;&nbsp;&nbsp; 6.000% due 4/1/54 | 423573  |
|  | **TOTAL FHLMC** | **1927292**  |
| **FNMA – 0.6%**  | **FNMA – 0.6%**  | **FNMA – 0.6%**  |
|  | Federal National Mortgage Association (FNMA) Pool:<br>|  |
| 367527 | &nbsp;&nbsp;&nbsp; 5.000% due 8/1/43 | 372801  |
| 379799 | &nbsp;&nbsp;&nbsp; 5.500% due 8/1/45 | 388181  |
| 401099 | &nbsp;&nbsp;&nbsp; 5.500% due 2/1/55 | 413163  |

---

See Notes to Financial Statements.

217<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Low Duration Fixed Income Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **MORTGAGE-BACKED SECURITIES – (continued)**  | **MORTGAGE-BACKED SECURITIES – (continued)**  | **MORTGAGE-BACKED SECURITIES – (continued)**  |
| **FNMA – (continued)**  | **FNMA – (continued)**  | **FNMA – (continued)**  |
| 319665 | &nbsp;&nbsp;&nbsp; 5.500% due 4/1/55 | $325268  |
| 267141 | &nbsp;&nbsp;&nbsp; 6.000% due 10/1/53 | 276621  |
|  | **TOTAL FNMA** | **1776034**  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL MORTGAGE-BACKED SECURITIES**<br>**(Cost – $3,631,560)** | **3703326**  |
| **SOVEREIGN BONDS – 0.1%**  | **SOVEREIGN BONDS – 0.1%**  | **SOVEREIGN BONDS – 0.1%**  |
| **Guatemala – 0.1%**  | **Guatemala – 0.1%**  | **Guatemala – 0.1%**  |
| 200000 | Guatemala Government Bond, 4.500% due 5/3/26 | 200072  |
| **Paraguay – 0.0%**  | **Paraguay – 0.0%**  |  |
| 50000 | Paraguay Government International Bond, 5.000% due 4/15/26 | 50044  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL SOVEREIGN BONDS**<br>**(Cost – $249,518)** | **250116**  |
| **Shares/Units** |  |  |
| **EXCHANGE TRADED FUND (ETF) – 13.1%**  | **EXCHANGE TRADED FUND (ETF) – 13.1%**  | **EXCHANGE TRADED FUND (ETF) – 13.1%**  |
| 733822 | iShares Core 1-5 Year USD Bond<br>|  |
|  | &nbsp;&nbsp;&nbsp; (Cost – $34,075,973) | 35971955  |
| **COMMON STOCKS – 6.3%**  | **COMMON STOCKS – 6.3%**  | **COMMON STOCKS – 6.3%**  |
| **COMMUNICATIONS – 0.0%**  | **COMMUNICATIONS – 0.0%**  | **COMMUNICATIONS – 0.0%**  |
| **Internet – 0.0%**  |  |  |
| 438406339 | Go North Group AB<sup>\*(d)(f)</sup> |  |
| **CONSUMER NON-CYCLICAL – 0.4%**  | **CONSUMER NON-CYCLICAL – 0.4%**  | **CONSUMER NON-CYCLICAL – 0.4%**  |
| **Commercial Services – 0.0%**  | **Commercial Services – 0.0%**  | **Commercial Services – 0.0%**  |
| 393 | Euronet Worldwide Inc.<sup>\*</sup> | 27333  |
| **Healthcare-Products – 0.3%**  | **Healthcare-Products – 0.3%**  | **Healthcare-Products – 0.3%**  |
| 833981 | ProSomnus Sleep Technologies Inc.<sup>\*@(d)(f)</sup> | 833981  |
| **Healthcare-Services – 0.0%**  | **Healthcare-Services – 0.0%**  | **Healthcare-Services – 0.0%**  |
| 161689 | UpHealth Inc.<sup>\*(d)(f)</sup> | —  |
| **Pharmaceuticals – 0.1%**  | **Pharmaceuticals – 0.1%**  | **Pharmaceuticals – 0.1%**  |
| 6449526 | Cannabist Co. Holdings Inc.<sup>\*(f)</sup> | 94547  |
|  | **TOTAL CONSUMER NON-CYCLICAL** | **955861**  |
| **DIVERSIFIED – 5.9%**  | **DIVERSIFIED – 5.9%**  | **DIVERSIFIED – 5.9%**  |
| **Holding Companies-Diversified – 5.9%**  | **Holding Companies-Diversified – 5.9%**  | **Holding Companies-Diversified – 5.9%**  |
| 62000 | Agriculture & Natural Solutions Acquisition Corp.<sup>\*</sup> | 696880  |
| 18800 | AI Infrastructure Acquisition Corp., Class A Shares<sup>\*</sup> | 188376  |
| 34000 | APEX Tech Acquisition Inc.<sup>\*</sup> | 340000  |
| 26300 | Apex Treasury Corp., Class A Shares<sup>\*</sup> | 260896  |
| 30000 | Armada Acquisition Corp. III<sup>\*</sup> | 299100  |
| 8000 | Blueport Acquisition Ltd., Class A Shares<sup>\*(f)</sup> | 79760  |
| 18800 | Cal Redwood Acquisition Corp., Class A Shares<sup>\*(f)</sup> | 191008  |
| 30783 | Cantor Equity Partners I Inc., Class A Shares<sup>\*</sup> | 322298  |
| 52635 | Crown Reserve Acquisition Corp. I, Class A Shares<sup>\*</sup> | 526350  |
| 26300 | Drugs Made In America Acquisition II Corp.<sup>\*</sup> | 262474  |
| 35000 | Harvard Ave Acquisition Corp., Class A Shares<sup>\*</sup> | 350350 |

---

See Notes to Financial Statements.

218<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Low Duration Fixed Income Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security**  | **Value**  |
| **COMMON STOCKS – (continued)** | **COMMON STOCKS – (continued)** | **COMMON STOCKS – (continued)** |
| **DIVERSIFIED – (continued)** | **DIVERSIFIED – (continued)** | **DIVERSIFIED – (continued)** |
| **Holding Companies-Diversified – (continued)** | **Holding Companies-Diversified – (continued)** | **Holding Companies-Diversified – (continued)** |
| 102102 | Jackson Acquisition Co. II, Class A Shares<sup>\*</sup> | $1073092  |
| 17000 | K2 Capital Acquisition Corp.<sup>\*</sup> | 171020  |
| 60817 | M3-Brigade Acquisition V Corp., Class A Shares<sup>\*</sup> | 649526  |
| 140700 | Mercer Park Opportunities Corp.<sup>\*(f)</sup> | 1470315  |
| 24961 | Mountain Lake Acquisition Corp., Class A Shares<sup>\*</sup> | 261841  |
| 26500 | NMP Acquisition Corp., Class A Shares<sup>\*(f)</sup> | 268445  |
| 39246 | OTG Acquisition Corp. I, Class A Shares<sup>\*</sup> | 394422  |
| 15000 | Paloma Acquisition Corp. I<sup>\*</sup> | 149775  |
| 63658 | Republic Digital Acquisition Co., Class A Shares<sup>\*</sup> | 651221  |
| 137200 | Roman DBDR Acquisition Corp. II<sup>\*</sup> | 1430996  |
| 135000 | Siddhi Acquisition Corp., Class A Shares<sup>\*</sup> | 1388475  |
| 93797 | Sizzle Acquisition Corp. II, Class A Shares<sup>\*</sup> | 960481  |
| 63760 | Solarius Capital Acquisition Corp., Class A Shares<sup>\*</sup> | 646527  |
| 129696 | Titan Acquisition Corp., Class A Shares<sup>\*</sup> | 1333275  |
| 21800 | Translational Development Acquisition Corp.<sup>\*</sup> | 229554  |
| 65883 | Wen Acquisition Corp., Class A Shares<sup>\*</sup> | 670030  |
| 13500 | Westin Acquisition Corp., Class A Shares<sup>\*</sup> | 134325  |
| 19000 | White Pearl Acquisition Corp.<sup>\*</sup> | 191710  |
| 11000 | White Pearl Acquisition Corp., Class A Shares<sup>\*</sup> | 108570  |
| 34000 | XFLH Capital Corp.<sup>\*(f)</sup> | 338640  |
| 29000 | Xsolla SPAC 1<sup>\*</sup> | 287100  |
|  | Total Holding Companies-Diversified | 16326832  |
|  | **TOTAL DIVERSIFIED** | **16326832**  |
| **FINANCIAL – 0.0%**  | **FINANCIAL – 0.0%**  | **FINANCIAL – 0.0%**  |
| **Financial Services – 0.0%**  | **Financial Services – 0.0%**  |  |
| 16305 | Alpha Partners Technology<sup>\*(d)(f)</sup> | —  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>**(Cost – $17,122,685)** | **17282693**  |
| **PREFERRED STOCK – 0.5%**  | **PREFERRED STOCK – 0.5%**  | **PREFERRED STOCK – 0.5%**  |
| **FINANCIAL – 0.5%**  | **FINANCIAL – 0.5%**  | **FINANCIAL – 0.5%**  |
| **Diversified Financial Services – 0.5%**  | **Diversified Financial Services – 0.5%**  | **Diversified Financial Services – 0.5%**  |
| 56213 | &nbsp;&nbsp;&nbsp; SWK Holdings Corp., 9.000% <br>(Cost – $1,405,325) | 1450295  |
| **WARRANT – 0.0%**  | **WARRANT – 0.0%**  | **WARRANT – 0.0%**  |
| **DIVERSIFIED – 0.0%**  | **DIVERSIFIED – 0.0%**  | **DIVERSIFIED – 0.0%**  |
| **Holding Companies-Diversified – 0.0%**  | **Holding Companies-Diversified – 0.0%**  | **Holding Companies-Diversified – 0.0%**  |
| 43327 | &nbsp;&nbsp;&nbsp; Leafly Holdings Inc.<sup>\*@(d)(f)</sup> <br>(Cost – $0) | —  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS**<br>**(Cost – $258,838,106)** | **252304183** |

---

See Notes to Financial Statements.

219<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Low Duration Fixed Income Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount**  | **Security**  | **Value** |
| **SHORT-TERM INVESTMENTS – 11.5%**  | **SHORT-TERM INVESTMENTS – 11.5%**  | **SHORT-TERM INVESTMENTS – 11.5%**  |
| **COMMERCIAL PAPERS – 3.4%**  | **COMMERCIAL PAPERS – 3.4%**  | **COMMERCIAL PAPERS – 3.4%**  |
| $1003000 | Crown Castle Inc., 4.101% due 3/19/26<sup>(a)(k)</sup> | $1000668  |
| 2296000 | Fidelity National Information Services Inc., 3.865% due 3/2/26<sup>(a)(k)</sup> | 2295275  |
| 2429000 | Genuine Parts Co., 4.214% due 3/10/26<sup>(a)(k)</sup> | 2425981  |
| 1391000 | HCA Inc., 4.089% due 3/2/26<sup>(a)(k)</sup> | 1390535  |
| 2080000 | Stanley Black & Decker Inc., 3.882% due 3/18/26<sup>(a)(k)</sup> | 2075659  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL COMMERCIAL PAPERS** <br>**(Cost – $9,190,193)** | **9188118**  |
| **CORPORATE NOTE – 0.6%**  | **CORPORATE NOTE – 0.6%**  | **CORPORATE NOTE – 0.6%**  |
| 1642106 | &nbsp;&nbsp;&nbsp; Go North Group AB, 9.583% due 3/17/26<sup>(c)(d)(f)</sup> <br>(Cost – $1,628,219) | 1642106  |
| **TIME DEPOSITS – 7.5%**  | **TIME DEPOSITS – 7.5%**  | **TIME DEPOSITS – 7.5%**  |
| 12034112 | Citibank - New York, 2.980% due 3/2/26 | 12034112  |
| 8681716 | JPMorgan Chase & Co. - New York, 2.980% due 3/2/26 | 8681716  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL TIME DEPOSITS** <br>**(Cost – $20,715,828)** | **20715828**  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL SHORT-TERM INVESTMENTS** <br>**(Cost – $31,534,240)** | **31546052**  |
| **Shares/Units** |  |  |
| **INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 1.5%**  | **INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 1.5%**  | **INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 1.5%**  |
| **MONEY MARKET FUND – 1.5%**  | **MONEY MARKET FUND – 1.5%**  | **MONEY MARKET FUND – 1.5%**  |
| 4109478 | &nbsp;&nbsp;&nbsp; Federated Government Obligations Fund, Premier Class, 3.593%<sup>(l)</sup> <br>(Cost – $4,109,478) | 4109478  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS – 104.9%** <br>**(Cost – $294,481,824)** | **287959713**  |
|  | Liabilities in Excess of Other Assets – (4.9)% | (13402814)  |
|  | **TOTAL NET ASSETS – 100.0%** | **$274556899** |

---

&nbsp;&nbsp;&nbsp;&nbsp;† Face amount denominated in U.S. dollars, unless
 otherwise noted.

# Security issued with zero coupon. Income is recognized through accretion of discount.

\* Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(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 February 28, 2026, amounts to $92,327,309 and represents 33.63% of net assets.

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

&nbsp;&nbsp;&nbsp;&nbsp;(c) Variable rate security. Interest rate disclosed
 is that which was in effect at February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Security is valued in good faith at fair value
 by or under the direction of the Board of Trustees using significant unobservable inputs.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Payment in-kind security for which part of
 the income earned may be paid as additional principal. At the option of the issuer.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Illiquid security. The aggregate value of illiquid
 holdings at February 28, 2026, amounts to $16,327,689 and represents 5.95% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Security is perpetual in nature and has no stated
 maturity date.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Security is currently in default.

See Notes to Financial Statements.

220<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations Low Duration Fixed Income Fund(continued)** 

&nbsp;&nbsp;&nbsp;&nbsp;(i) Interest only security.

&nbsp;&nbsp;&nbsp;&nbsp;(j) 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.

&nbsp;&nbsp;&nbsp;&nbsp;(k) Rate shown represents yield-to-maturity.

&nbsp;&nbsp;&nbsp;&nbsp;(l) 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** <br>**Acquisition** <br>**Date** | **First** <br>**Acquisition** <br>**Cost** | **Market**<br>**Value** | **Percent of**<br>**Net Assets**  |
| Leafly Holdings Inc. | 2/7/2022 | $— | $— | &nbsp;&nbsp;&nbsp; 0.00%<sup>\*</sup>  |
| Leafly Holdings Inc., Senior Unsecured Notes, 8.000% due 7/1/25 | 2/4/2022 | 8497000 | 5862450 | &nbsp;&nbsp;&nbsp; 2.14%  |
| ProSomnus Sleep Technologies Inc. | 8/6/2024 | 728853 | 833981 | &nbsp;&nbsp;&nbsp;&nbsp;0.30%  |
|  |  |  | **$6696431** | &nbsp;&nbsp;&nbsp;&nbsp;2.44% |

---

<u>Abbreviations used in this schedule:</u>

CLO — Collateralized Loan Obligation

CMT — Constant Maturity Treasury Index

EURIBOR — Euro 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

SARL — Société à Responsabilité Limitée

SOFR — Secured Overnight Financing Rate

STIBOR — Stockholm Interbank Offered Rate

TSFR — CME Term SOFR Reference Rate

See Notes to Financial Statements.

221<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations Low Duration Fixed Income Fund(concluded)** 

**<u>Summary of Investments by Security Type^</u>** 

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 33.3%  |
| Exchange Traded Fund (ETF) | 12.5  |
| Collateralized Mortgage Obligations | 11.5  |
| U.S. Government Agencies & Obligations | 10.0  |
| Common Stocks | 6.0  |
| Collateralized Loan Obligations | 5.5  |
| Asset-Backed Securities | 3.7  |
| Senior Loans | 3.2  |
| Mortgage-Backed Securities | 1.3  |
| Preferred Stock | 0.5  |
| Sovereign Bonds | 0.1  |
| Warrant | 0.0<sup>\*</sup>  |
| Short-Term Investments | 11.0  |
| Money Market Fund | 1.4  |
|  | 100.0% |

---

---

| | |
|:---|:---|
| ^<br>| As a percentage of total investments. |

---

\* Position represents less than 0.05%. 

At February 28, 2026, Destinations Low Duration Fixed Income Fund had open forward foreign currency contracts as described below.

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Foreign Currency** | **Local** <br>**Currency** | **Market**<br>**Value** | **Settlement** <br>**Date** | **Unrealized** <br>**Appreciation** | **Unrealized** <br>(Depreciation) |
| **Contracts to Buy:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Euro | 32500<br> &nbsp;&nbsp;&nbsp;&nbsp; BBH | $38428 | &nbsp;&nbsp;&nbsp; 3/16/26 | &nbsp;&nbsp; $— | $(288) |
| **Contracts to Sell:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Euro | 8170000<br> &nbsp;&nbsp;&nbsp;&nbsp; BBH | 9660316 | &nbsp;&nbsp;&nbsp; 3/16/26 | &nbsp;&nbsp; $— | $(109121) |
| &nbsp;&nbsp;&nbsp; Norwegian Krone | 4000000<br> &nbsp;&nbsp;&nbsp;&nbsp; BBH | 420609 | &nbsp;&nbsp;&nbsp; 3/16/26 | &nbsp;&nbsp; — | (7011) |
| &nbsp;&nbsp;&nbsp; Swedish Krona | 38715000<br> &nbsp;&nbsp;&nbsp;&nbsp; BBH | 4291578 | &nbsp;&nbsp;&nbsp; 3/16/26 | &nbsp;&nbsp; — | (72940) |
|  |  |  |  | &nbsp;&nbsp; $— | $(189072) |
| Net Unrealized Depreciation on Open Forward Foreign Currency Contracts  | Net Unrealized Depreciation on Open Forward Foreign Currency Contracts  | Net Unrealized Depreciation on Open Forward Foreign Currency Contracts  | Net Unrealized Depreciation on Open Forward Foreign Currency Contracts  | &nbsp;&nbsp; $— | $(189360) |

---

<u>Counterparty Abbreviations used in this schedule:</u>

BBH — Brown Brothers Harriman & Co.

<u>Currency Abbreviations used in this schedule:</u>

---

| | |
|:---|:---|
| EUR<br>| — Euro |

---

NOK — Norwegian Krone

SEK — Swedish Krona

See Notes to Financial Statements.

222<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Global Fixed Income Opportunities Fund** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – 77.6%**  | **CORPORATE BONDS & NOTES – 77.6%**  | **CORPORATE BONDS & NOTES – 77.6%**  |
| **Argentina – 0.1%**  | **Argentina – 0.1%**  | **Argentina – 0.1%**  |
| 650000 | Banco Macro SA, Senior Unsecured Notes, 8.000% due 1/28/31<sup>(a)</sup>  | $664203  |
| 200000 | Vista Energy Argentina SAU, Senior Unsecured Notes, 8.500% due 6/10/33<sup>(a)</sup>  | 210000  |
|  | Total Argentina | 874203  |
| **Australia – 0.1%**  | **Australia – 0.1%**  | **Australia – 0.1%**  |
| 350000 | Fortescue Treasury Pty Ltd., Senior Unsecured Notes, 6.125% due 4/15/32<sup>(a)</sup>  | 366523  |
| 300000 | Hillgrove Mines Pty Ltd., Senior Secured Notes, 12.000% due 8/1/29  | 312937  |
| 324000 | Mineral Resources Ltd., Senior Unsecured Notes, 9.250% due 10/1/28<sup>(a)</sup>  | 339342  |
|  | Total Australia | 1018802  |
| **Austria – 0.1%**  | **Austria – 0.1%**  | **Austria – 0.1%**  |
| 700000<sup>EUR</sup> | &nbsp;&nbsp;&nbsp; Lenzing AG, Subordinated Notes, 9.000% (3-Year EURIBOR ICE Swap <br>Rate + 12.105%)<sup>(b)(c)</sup>  | 824807  |
| **Bermuda – 1.0%**  | **Bermuda – 1.0%**  | **Bermuda – 1.0%**  |
| 125000<sup>EUR</sup> | Aegon Ltd., Subordinated Notes, 0.496% (10-Year Netherlands Government Bond Yield + 0.850%)<sup>(b)(c)</sup>  | 106344  |
| 255020 | Digicel Group Holdings Ltd., Senior Secured Notes, zero coupon, due 12/31/30<sup>(a)</sup>  | 9688  |
| 5261000 | Golar LNG Ltd., Senior Unsecured Notes, 7.500% due 10/2/30<sup>(a)</sup>  | 5293666  |
| 875000 | SP Cruises Intermediate Ltd., Senior Secured Notes, 11.500% due 3/14/30<sup>(a)</sup>  | 879956  |
| 250000 | Valaris Ltd., Secured Notes, 8.375% due 4/30/30<sup>(a)</sup>  | 262178  |
| 650000 | Viking Cruises Ltd., Company Guaranteed Notes, 9.125% due 7/15/31<sup>(a)</sup>  | 691564  |
| 100000 | Weatherford International Ltd., Company Guaranteed Notes, 6.750% due 10/15/33<sup>(a)</sup>  | 104548  |
|  | Total Bermuda | 7347944  |
| **Brazil – 0.5%**  | **Brazil – 0.5%**  | **Brazil – 0.5%**  |
| 422000 | Banco BTG Pactual SA, Senior Unsecured Notes, 5.500% due 1/27/31<sup>(a)</sup>  | 421979  |
| 2941734 | Prumo Participacoes e Investimentos S/A, Senior Secured Notes, 7.500% due 12/31/31  | 2999915  |
|  | Total Brazil | 3421894  |
| **British Virgin Islands – 0.3%**  | **British Virgin Islands – 0.3%**  | **British Virgin Islands – 0.3%**  |
| 1400000 | Gold Fields Orogen Holdings BVI Ltd., Company Guaranteed Notes, 6.125% due 5/15/29  | 1471441  |
| 828750 | Star Energy Geothermal Wayang Windu Ltd., Senior Secured Notes, 6.750% due 4/24/33  | 852800  |
|  | Total British Virgin Islands | 2324241  |
| **Canada – 2.4%**  | **Canada – 2.4%**  | **Canada – 2.4%**  |
| 2100000 | Aris Mining Corp., Company Guaranteed Notes, 8.000% due 10/31/29<sup>(a)</sup>  | 2200338  |
| 1793000 | Brookfield Residential Properties Inc./Brookfield Residential US LLC, Company Guaranteed Notes, 4.875% due 2/15/30<sup>(a)</sup>  | 1685262  |
| 6647000 | Cannabist Co. Holdings Inc., Senior Secured Notes, 9.250% due 12/31/28  | 3439794  |
| 2566000<sup>EUR</sup> | CI Financial Corp., Company Guaranteed Notes, 4.625% due 12/12/31  | 3118449  |
| 2500000 | Polaris Renewable Energy Inc., Senior Secured Notes, 9.500% due 12/3/29  | 2595000  |
| 2486000 | Trulieve Cannabis Corp., Senior Secured Notes, 10.500% due 12/17/30<sup>(a)(d)</sup>  | 2490181  |
| 875000 | Trulieve Cannabis Corp., Senior Secured Notes, 10.500% due 12/17/30<sup>(a)</sup>  | 875000  |
| 350000 | Vermilion Energy Inc., Senior Unsecured Notes, 7.250% due 2/15/33<sup>(a)</sup>  | 342335  |
|  | Total Canada | 16746359  |

---

See Notes to Financial Statements.

223<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Global Fixed Income Opportunities Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Cayman Islands – 2.2%**  | **Cayman Islands – 2.2%**  | **Cayman Islands – 2.2%**  |
| 4582492 | Bioceanico Sovereign Certificate Ltd., Senior Secured Notes, zero coupon, due 6/5/34  | $3801269  |
| 848000 | C&W Senior Finance Ltd., Company Guaranteed Notes, 9.000% due 1/15/33<sup>(a)</sup>  | 877450  |
| 1441000 | CHC Group LLC, Senior Secured Notes, 11.750% due 9/1/30<sup>(a)</sup>  | 1415446  |
| 1900000 | Cosan Overseas Ltd., Company Guaranteed Notes, 8.250%<sup>(c)</sup>  | 1868650  |
| 390000 | Ittihad International II Ltd., Company Guaranteed Notes, 7.375% due 11/13/30<sup>(a)</sup>  | 402629  |
| 2982368 | Lima Metro Line 2 Finance Ltd., Senior Secured Notes, 5.875% due 7/5/34  | 3090882  |
| 1927200 | Rutas 2 & 7 Finance Ltd., Senior Secured Notes, zero coupon, due 9/30/36<sup>(e)</sup>  | 1490130  |
| 2507000 | Sable International Finance Ltd., Senior Secured Notes, 7.125% due 10/15/32<sup>(a)</sup>  | 2538267  |
|  | Total Cayman Islands | 15484723  |
| **Chile – 1.9%**  | **Chile – 1.9%**  | **Chile – 1.9%**  |
| 150000 | Agrosuper SA, Senior Unsecured Notes, 4.600% due 1/20/32  | 146455  |
| 1400000 | Banco Santander Chile, Senior Unsecured Notes, 4.550% due 11/20/30<sup>(a)</sup>  | 1409506  |
| 3700000 | CAP SA, Senior Unsecured Notes, 3.900% due 4/27/31  | 3081843  |
| 800000 | Cencosud SA, Company Guaranteed Notes, 4.375% due 7/17/27  | 801018  |
| 2516903 | Chile Electricity PEC SpA, Senior Secured Notes, zero coupon, due 1/25/28<sup>(a)</sup>  | 2286607  |
| 1500000 | Corp. Nacional del Cobre de Chile, Senior Unsecured Notes, 3.000% due 9/30/29  | 1437552  |
| 212800 | Empresa Electrica Angamos SA, Senior Secured Notes, 4.875% due 5/25/29  | 193767  |
| 788800 | Empresa Electrica Cochrane SpA, Senior Secured Notes, 5.500% due 5/14/27  | 788700  |
| 1524400 | GNL Quintero SA, Senior Unsecured Notes, 4.634% due 7/31/29  | 1532375  |
|  | WOM Chile Holdco SpA, Unsecured Notes:<br>|  |
| 1696073 | &nbsp;&nbsp;&nbsp; 5.000% due 4/1/32<sup>(a)(f)</sup>  | 1554027  |
| 91344 | &nbsp;&nbsp;&nbsp; 5.000% due 4/1/32<sup>(f)</sup>  | 83694  |
|  | Total Chile | 13315544  |
| **Colombia – 0.5%**  | **Colombia – 0.5%**  | **Colombia – 0.5%**  |
| 1700000 | Banco Davivienda SA, Subordinated Notes, 8.125% (5-Year CMT Index + 4.588%) due 7/2/35<sup>(a)(b)</sup>  | 1752700  |
| 150000 | Banco GNB Sudameris SA, Subordinated Notes, 7.500% (5-Year CMT Index + 6.660%) due 4/16/31<sup>(b)</sup>  | 149614  |
| 1300000 | &nbsp;&nbsp;&nbsp; Empresas Publicas de Medellin ESP, Senior Unsecured Notes, 4.375% due <br>2/15/31  | 1197122  |
| 596080 | Fideicomiso PA Pacifico Tres, Senior Secured Notes, 8.250% due 1/15/35  | 622606  |
|  | Total Colombia | 3722042  |
| **Czech Republic – 0.1%**  | **Czech Republic – 0.1%**  | **Czech Republic – 0.1%**  |
| 731000<sup>EUR</sup> | Energo-Pro AS, Local Government Guaranteed Notes, 8.000% due 5/27/30<sup>(a)</sup>  | 916608  |
| **France – 0.7%**  | **France – 0.7%**  | **France – 0.7%**  |
| 700000<sup>EUR</sup> | CAB SELAS, Senior Secured Notes, 3.375% due 2/1/28  | 817184  |
| 1216000<sup>EUR</sup> | Emeria SASU, Senior Secured Notes, 7.750% due 3/31/28  | 1218594  |
|  | Goldstory SAS, Senior Secured Notes:<br>|  |
| 200000<sup>EUR</sup> | &nbsp;&nbsp;&nbsp; 6.020% (3-Month EURIBOR + 4.000%) due 2/1/30<sup>(b)</sup>  | 230915  |
| 100000<sup>EUR</sup> | &nbsp;&nbsp;&nbsp; 6.750% due 2/1/30  | 117900  |
| 687000<sup>EUR</sup> | Laboratoire Eimer SELAS, Company Guaranteed Notes, 5.000% due 2/1/29  | 769472  |

---

See Notes to Financial Statements.

224<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Global Fixed Income Opportunities Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **France – (continued)**  | **France – (continued)**  | **France – (continued)**  |
|  | Viridien, Senior Secured Notes:<br>|  |
| 628426<sup>EUR</sup> | &nbsp;&nbsp;&nbsp; 8.500% due 10/15/30<sup>(a)</sup>  | $793381  |
| 573000 | &nbsp;&nbsp;&nbsp; 10.000% due 10/15/30<sup>(a)</sup>  | 614438  |
|  | Total France | 4561884  |
| **Germany – 2.9%**  | **Germany – 2.9%**  | **Germany – 2.9%**  |
| 1800000 | Cerdia Finanz GmbH, Senior Secured Notes, 9.375% due 10/3/31<sup>(a)</sup>  | 1836000  |
| 859000<sup>EUR</sup> | Cidron Atrium SE, Senior Secured Notes, 5.647% (3-Month EURIBOR + 3.625%) due 2/15/33<sup>(b)</sup>  | 1014451  |
| 3068000<sup>EUR</sup> | Duran Life Science Holding GmbH, Senior Secured Notes, 8.513% (3-Month EURIBOR + 6.500%) due 5/31/30<sup>(b)</sup>  | 3661450  |
|  | IHO Verwaltungs GmbH, Senior Secured Notes:<br>|  |
| 400000 | &nbsp;&nbsp;&nbsp; 7.750% due 11/15/30<sup>(a)(f)</sup>  | 420410  |
| 500000 | &nbsp;&nbsp;&nbsp; 8.000% due 11/15/32<sup>(a)(f)</sup>  | 533358  |
| 2253000<sup>EUR</sup> | JDC Group AG, Senior Secured Notes, 6.513% (3-Month EURIBOR + 4.500%) due 8/28/29<sup>(a)(b)</sup>  | 2675473  |
| 1000000<sup>EUR</sup> | Kolibri Beteiligungsgesellschaft mbH & Co. KGaA, Senior Secured Notes, 8.994% (3-Month EURIBOR + 7.000%) due 2/13/29<sup>(a)(b)</sup>  | 1210313  |
| 1305000<sup>EUR</sup> | &nbsp;&nbsp;&nbsp; LifeFit Group MidCo GmbH, Senior Secured Notes, 9.011% <br>(3-Month EURIBOR + 7.000%) due 8/29/29<sup>(b)</sup>  | 1630333  |
| 1700000<sup>EUR</sup> | &nbsp;&nbsp;&nbsp; Muehlhan Holding GmbH, Senior Secured Notes, 7.916% <br>(3-Month EURIBOR + 5.900%) due 5/15/30<sup>(a)(b)</sup>  | 2060316  |
| 3061000<sup>EUR</sup> | Platform Group SE & Co. KGaA, Company Guaranteed Notes, 8.875% due 7/11/28  | 2985826  |
| 1487000<sup>EUR</sup> | &nbsp;&nbsp;&nbsp; Secop Group Holding GmbH, Senior Secured Notes, 10.422% <br>(3-Month EURIBOR + 8.400%) due 12/29/26<sup>(b)</sup>  | 1774613  |
| 443000<sup>EUR</sup> | smava GmbH, Senior Secured Notes, 9.024% (3-Month EURIBOR + 7.000%) due 5/22/29<sup>(b)</sup>  | 544020  |
|  | Total Germany | 20346563  |
| **Gibraltar – 1.7%**  | **Gibraltar – 1.7%**  | **Gibraltar – 1.7%**  |
|  | 888 Acquisitions Ltd., Senior Secured Notes:<br>|  |
| 868000<sup>EUR</sup> | &nbsp;&nbsp;&nbsp; 7.516% (3-Month EURIBOR + 5.500%) due 7/15/28<sup>(b)</sup>  | 978208  |
| 7914000<sup>GBP</sup> | &nbsp;&nbsp;&nbsp; 10.750% due 5/15/30  | 9878558  |
| 1370000<sup>EUR</sup> | &nbsp;&nbsp;&nbsp; 8.000% due 9/30/31<sup>(a)</sup>  | 1437660  |
|  | Total Gibraltar | 12294426  |
| **Guatemala – 0.1%**  | **Guatemala – 0.1%**  | **Guatemala – 0.1%**  |
| 400000 | &nbsp;&nbsp;&nbsp; Industrial Subordinated Trust 2 0, Subordinated Notes, 6.550% <br>(5-Year CMT Index + 2.864%) due 4/15/36<sup>(a)(b)</sup>  | 411140  |
| **India – 1.7%**  | **India – 1.7%**  | **India – 1.7%**  |
|  | Adani Electricity Mumbai Ltd., Senior Secured Notes:<br>|  |
| 2000000 | &nbsp;&nbsp;&nbsp; 3.949% due 2/12/30  | 1896721  |
| 600000 | &nbsp;&nbsp;&nbsp; 3.867% due 7/22/31  | 554990  |
| 1797750 | Adani International Container Terminal Pvt Ltd., Senior Secured Notes, 3.000% due 2/16/31  | 1681414  |

---

See Notes to Financial Statements.

225<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Global Fixed Income Opportunities Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **India – (continued)**  | **India – (continued)**  | **India – (continued)**  |
|  | Adani Ports & Special Economic Zone Ltd., Senior Unsecured Notes:<br>|  |
| 400000 | &nbsp;&nbsp;&nbsp; 4.375% due 7/3/29  | $392304  |
| 200000 | &nbsp;&nbsp;&nbsp; 3.100% due 2/2/31  | 182209  |
| 739125 | Adani Renewable Energy RJ Ltd./Kodangal Solar Parks Pvt Ltd./Wardha Solar Maharash, Senior Secured Notes, 4.625% due 10/15/39  | 621628  |
|  | Adani Transmission Step-One Ltd., Senior Secured Notes:<br>|  |
| 1000000 | &nbsp;&nbsp;&nbsp; 4.000% due 8/3/26  | 997156  |
| 1729000 | &nbsp;&nbsp;&nbsp; 4.250% due 5/21/36  | 1576037  |
| 2849500 | JSW Hydro Energy Ltd., Senior Secured Notes, 4.125% due 5/18/31  | 2692030  |
| 900000 | JSW Infrastructure Ltd., Senior Secured Notes, 4.950% due 1/21/29  | 902244  |
| 750000 | Reliance Industries Ltd., Senior Unsecured Notes, 3.667% due 11/30/27  | 745381  |
|  | Total India | 12242114  |
| **Indonesia – 0.8%**  | **Indonesia – 0.8%**  | **Indonesia – 0.8%**  |
| 200000 | Freeport Indonesia PT, Senior Unsecured Notes, 4.763% due 4/14/27  | 200521  |
| 500000 | Indofood CBP Sukses Makmur Tbk PT, Senior Unsecured Notes, 3.398% due 6/9/31  | 470063  |
|  | Pertamina Persero PT, Senior Unsecured Notes:<br>|  |
| 1400000 | &nbsp;&nbsp;&nbsp; 3.650% due 7/30/29  | 1368455  |
| 200000 | &nbsp;&nbsp;&nbsp; 2.300% due 2/9/31  | 179503  |
|  | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, Senior Unsecured Notes:<br>|  |
| 3000000 | &nbsp;&nbsp;&nbsp; 4.125% due 5/15/27  | 2994638  |
| 200000 | &nbsp;&nbsp;&nbsp; 3.875% due 7/17/29  | 195784  |
|  | Total Indonesia | 5408964  |
| **Ireland – 0.5%**  | **Ireland – 0.5%**  | **Ireland – 0.5%**  |
| 2202696 | Priority 1 Issuer Logistics DAC, Senior Secured Notes, 13.625% due 11/19/27<sup>(f)</sup> | 2093433  |
| 1133000<sup>EUR</sup> | Virgin Media O2 Vendor Financing Notes VII DAC, Senior Secured Notes, 7.500% due 7/15/33<sup>(a)</sup>  | 1285278  |
|  | Total Ireland | 3378711  |
| **Isle of Man – 0.4%**  | **Isle of Man – 0.4%**  | **Isle of Man – 0.4%**  |
| 2700000 | AngloGold Ashanti Holdings PLC, Company Guaranteed Notes, 3.375% due 11/1/28  | 2628038  |
| **Italy – 0.9%**  | **Italy – 0.9%**  | **Italy – 0.9%**  |
| 1009000<sup>EUR</sup> | Almaviva-The Italian Innovation Co. SpA, Senior Secured Notes, 5.000% due 10/30/30  | 1155938  |
| 201000<sup>EUR</sup> | Conceria Pasubio SpA, Senior Secured Notes, 6.518% (3-Month EURIBOR + 4.500%) due 9/30/28<sup>(b)</sup>  | 219814  |
| 1600000<sup>EUR</sup> | EVOCA SpA, Senior Secured Notes, 7.282% (3-Month EURIBOR + 5.250%) due 4/9/29<sup>(b)</sup>  | 1732190  |
| 926000<sup>EUR</sup> | Gruppo San Donato SpA, Senior Secured Notes, 6.500% due 10/31/31<sup>(a)</sup>  | 1113692  |
| 543000<sup>EUR</sup> | &nbsp;&nbsp;&nbsp; Italmatch Chemicals SpA, Senior Secured Notes, 6.154% <br>(3-Month EURIBOR + 4.125%) due 2/5/31<sup>(b)</sup>  | 644107  |

---

See Notes to Financial Statements.

226<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Global Fixed Income Opportunities Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Italy – (continued)**  | **Italy – (continued)**  | **Italy – (continued)**  |
| 1436000<sup>EUR</sup> | Maticmind SpA, Senior Secured Notes, 7.299% (3-Month EURIBOR + 5.250%) due 12/31/32<sup>(b)</sup>  | $1654487  |
|  | Total Italy | 6520228  |
| **Japan – 0.3%**  | **Japan – 0.3%**  | **Japan – 0.3%**  |
| 450000 | Nissan Motor Co., Ltd., Senior Unsecured Notes, 4.810% due 9/17/30<sup>(a)</sup>  | 427643  |
|  | Rakuten Group Inc., Senior Unsecured Notes:<br>|  |
| 1150000 | &nbsp;&nbsp;&nbsp; 11.250% due 2/15/27<sup>(a)</sup>  | 1210962  |
| 300000 | &nbsp;&nbsp;&nbsp; 9.750% due 4/15/29<sup>(a)</sup>  | 332748  |
|  | Total Japan | 1971353  |
| **Jersey, Channel Islands – 0.5%**  | **Jersey, Channel Islands – 0.5%**  | **Jersey, Channel Islands – 0.5%**  |
| 1100000 | &nbsp;&nbsp;&nbsp; Aptiv Swiss Holdings Ltd., Company Guaranteed Notes, 6.875% <br>(5-Year CMT Index + 3.385%) due 12/15/54<sup>(b)</sup>  | 1146822  |
| 909000<sup>GBP</sup> | TVL Finance PLC, Senior Secured Notes, 10.250% due 4/28/28  | 1216173  |
| 1087552<sup>GBP</sup> | Wheel Bidco Ltd., Senior Secured Notes, 9.875% due 9/15/29  | 1315202  |
|  | Total Jersey, Channel Islands | 3678197  |
| **Kazakhstan – 0.2%**  | **Kazakhstan – 0.2%**  | **Kazakhstan – 0.2%**  |
|  | ForteBank JSC, Junior Subordinated Notes:<br>|  |
| 900000 | &nbsp;&nbsp;&nbsp; 9.750% (5-Year CMT Index + 6.188%)<sup>(b)(c)(d)</sup>  | 913950  |
| 411000 | &nbsp;&nbsp;&nbsp; 9.750% (5-Year CMT Index + 6.188%)<sup>(a)(b)(c)(d)</sup>  | 417371  |
|  | Total Kazakhstan | 1331321  |
| **Luxembourg – 3.7%**  | **Luxembourg – 3.7%**  | **Luxembourg – 3.7%**  |
| 1307638 | Acu Petroleo Luxembourg SARL, Senior Secured Notes, 7.500% due 1/13/32  | 1349329  |
| 900000 | Albion Financing 1 SARL/Aggreko Holdings Inc., Senior Secured Notes, 7.000% due 5/21/30<sup>(a)</sup>  | 942528  |
| 2720000 | Auna SA/Oncosalud SAC, Senior Secured Notes, 8.750% due 11/6/32<sup>(a)</sup>  | 2781588  |
| 260000<sup>GBP</sup> | B&M European Value Retail SA, Senior Secured Notes, 8.125% due 11/15/30  | 367468  |
|  | Chile Electricity Lux Mpc II SARL, Government Guaranteed Notes:<br>|  |
| 970871 | &nbsp;&nbsp;&nbsp; 5.672% due 10/20/35<sup>(a)</sup>  | 1007834  |
| 485436 | &nbsp;&nbsp;&nbsp; 5.672% due 10/20/35  | 503917  |
| 1565200 | Chile Electricity Lux MPC SARL, Government Guaranteed Notes, 6.010% due 1/20/33  | 1645273  |
| 1800000 | CSN Resources SA, Company Guaranteed Notes, 5.875% due 4/8/32  | 1281321  |
| 1134231<sup>EUR</sup> | Cullinan Holdco Scsp, Senior Secured Notes, 8.500% due 10/15/29  | 1180234  |
| 1637000<sup>EUR</sup> | Flamingo Lux II SCA, Senior Unsecured Notes, 5.000% due 3/31/29  | 697230  |
| 500000 | FS Luxembourg SARL, Company Guaranteed Notes, 8.125% due 2/11/36<sup>(a)(e)</sup>  | 469475  |
| 2711000<sup>EUR</sup> | GTC Aurora Luxembourg SA, Company Guaranteed Notes, 2.250% due 6/23/26 | 3184055  |
| 147330 | Guara Norte SARL, Senior Secured Notes, 5.198% due 6/15/34  | 145110  |
| 1198000 | Herens Holdco SARL, Senior Secured Notes, 4.750% due 5/15/28<sup>(a)</sup>  | 1053930  |
| 333000 | MHP Lux SA, Company Guaranteed Notes, 10.500% due 7/28/29<sup>(a)</sup>  | 345474  |
|  | Millicom International Cellular SA, Senior Unsecured Notes:<br>|  |
| 900000 | &nbsp;&nbsp;&nbsp; 5.125% due 1/15/28  | 897789  |
| 270000 | &nbsp;&nbsp;&nbsp; 6.250% due 3/25/29  | 271640  |
| 200000 | &nbsp;&nbsp;&nbsp; 4.500% due 4/27/31  | 186729  |

---

See Notes to Financial Statements.

227<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Global Fixed Income Opportunities Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Luxembourg – (continued)**  | **Luxembourg – (continued)**  | **Luxembourg – (continued)**  |
| 1400000 | Movida Europe SA, Company Guaranteed Notes, 7.850% due 4/11/29<sup>(e)</sup>  | $1370859  |
| 1750000 | Newco Holding Eur 29 SARL, Senior Secured Notes, 11.000% due 2/20/30<sup>(a)</sup>  | 1725620  |
| 500000 | Nexa Resources SA, Company Guaranteed Notes, 6.500% due 1/18/28  | 511836  |
|  | Raizen Fuels Finance SA, Company Guaranteed Notes:<br>|  |
| 300000 | &nbsp;&nbsp;&nbsp; 6.450% due 3/5/34  | 133125  |
| 1100000 | &nbsp;&nbsp;&nbsp; 5.700% due 1/17/35<sup>(e)</sup>  | 482350  |
| 200000 | &nbsp;&nbsp;&nbsp; 6.700% due 2/25/37  | 89750  |
| 600000 | Saavi Energia SARL, Senior Unsecured Notes, 8.875% due 2/10/35<sup>(a)</sup>  | 662400  |
| 200000 | Simpar Europe SA, Company Guaranteed Notes, 5.200% due 1/26/31  | 167140  |
| 1450000 | Telecom Italia Capital SA, Company Guaranteed Notes, 7.200% due 7/18/36  | 1606558  |
| 421711 | Tierra Mojada Luxembourg II SARL, Senior Secured Notes, 5.750% due 12/1/40  | 415174  |
| 550595<sup>EUR</sup> | Vivion Investments SARL, Senior Secured Notes, 8.250% due 8/31/28<sup>(f)</sup>  | 653998  |
|  | Total Luxembourg | 26129734  |
| **Malaysia – 0.1%**  | **Malaysia – 0.1%**  | **Malaysia – 0.1%**  |
| 400000 | MISC Capital Two Labuan Ltd., Company Guaranteed Notes, 3.750% due 4/6/27  | 398654  |
| **Marshall Islands – 0.2%**  | **Marshall Islands – 0.2%**  | **Marshall Islands – 0.2%**  |
| 1200000 | Navios South American Logistics Inc., Senior Secured Notes, 8.875% due 7/14/30<sup>(a)</sup>  | 1249611  |
| **Mexico – 3.5%**  | **Mexico – 3.5%**  | **Mexico – 3.5%**  |
| 900000 | &nbsp;&nbsp;&nbsp; Banco Mercantil del Norte SA, Junior Subordinated Notes, 8.375% <br>(5-Year CMT Index + 4.072%)<sup>(a)(b)(c)</sup>  | 961875  |
| 200000 | Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand, Senior Unsecured Notes, 5.621% due 12/10/29  | 208900  |
|  | BBVA Mexico SA Institucion de Banca Multiple Grupo Financiero BBVA Mexico, Subordinated Notes:<br>|  |
| 800000 | &nbsp;&nbsp;&nbsp; 5.125% (5-Year CMT Index + 2.650%) due 1/18/33<sup>(b)</sup>  | 796928  |
| 2400000 | &nbsp;&nbsp;&nbsp; 5.875% (5-Year CMT Index + 4.308%) due 9/13/34<sup>(b)</sup>  | 2426575  |
| 1090474 | Buffalo Energy Mexico Holdings/Buffalo Energy Infrastructure/Buffalo Energy, Senior Secured Notes, 7.875% due 2/15/39<sup>(a)</sup>  | 1193478  |
| 3600000 | Cemex SAB de CV, Subordinated Notes, 5.125% (5-Year CMT Index + 4.534%)<sup>(b)(c)</sup> | 3594172  |
| 882000 | Cometa Energia SA de CV, Senior Secured Notes, 6.375% due 4/24/35  | 925080  |
|  | Comision Federal de Electricidad, Company Guaranteed Notes:<br>|  |
| 600000 | &nbsp;&nbsp;&nbsp; 3.348% due 2/9/31  | 551581  |
| 1200000 | &nbsp;&nbsp;&nbsp; 6.450% due 1/24/35<sup>(a)</sup>  | 1243250  |
| 229000 | &nbsp;&nbsp;&nbsp; Comision Federal de Electricidad, Senior Unsecured Notes, 6.500% due <br>1/28/51<sup>(a)</sup>  | 231805  |
| 1676523 | Fermaca Enterprises S de RL de CV, Senior Secured Notes, 6.375% due 3/30/38 | 1718436  |
|  | FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple, Senior Secured Notes:<br>|  |
| 693355 | &nbsp;&nbsp;&nbsp; 7.250% due 1/31/41  | 722767  |
| 396203 | &nbsp;&nbsp;&nbsp; 7.250% due 1/31/41<sup>(a)</sup>  | 413010  |

---

See Notes to Financial Statements.

228<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Global Fixed Income Opportunities Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Mexico – (continued)**  | **Mexico – (continued)**  | **Mexico – (continued)**  |
|  | Grupo Aeromexico SAB de CV, Senior Secured Notes:<br>|  |
| 1820000 | &nbsp;&nbsp;&nbsp; 8.250% due 11/15/29  | $1863225  |
| 1717000 | &nbsp;&nbsp;&nbsp; 8.625% due 11/15/31  | 1762071  |
| 3065758 | &nbsp;&nbsp;&nbsp; Mexico Generadora de Energia S de rl, Senior Secured Notes, 5.500% due <br>12/6/32  | 3106488  |
|  | Orbia Advance Corp. SAB de CV, Company Guaranteed Notes:<br>|  |
| 600000 | &nbsp;&nbsp;&nbsp; 6.750% due 9/19/42  | 526914  |
| 200000 | &nbsp;&nbsp;&nbsp; 5.875% due 9/17/44  | 162028  |
|  | Total Play Telecomunicaciones SA de CV, Senior Secured Notes:<br>|  |
| 1267000 | &nbsp;&nbsp;&nbsp; 10.500% due 12/31/28  | 1242788  |
| 1300000 | &nbsp;&nbsp;&nbsp; 11.125% due 12/31/32<sup>(a)</sup>  | 1236300  |
|  | Total Mexico | 24887671  |
| **Morocco – 0.3%**  | **Morocco – 0.3%**  | **Morocco – 0.3%**  |
| 1900000 | OCP SA, Senior Unsecured Notes, 6.750% due 5/2/34  | 2058582  |
| **Multinational – 0.4%**  | **Multinational – 0.4%**  | **Multinational – 0.4%**  |
| 500000 | Cascades Inc./Cascades USA Inc., Company Guaranteed Notes, 5.375% due 1/15/28<sup>(a)</sup>  | 498904  |
| 1200000 | Connect Finco SARL/Connect US Finco LLC, Senior Secured Notes, 9.000% due 9/15/29<sup>(a)</sup>  | 1273408  |
| 1150000 | Digicel International Finance Ltd./Difl US LLC, Senior Secured Notes, 8.625% due 8/1/32<sup>(a)</sup>  | 1194745  |
|  | Total Multinational | 2967057  |
| **Netherlands – 1.6%**  | **Netherlands – 1.6%**  | **Netherlands – 1.6%**  |
| 1604000 | Ardshinbank CJSC Via Dilijan Finance BV, Senior Unsecured Notes, 6.600% due 1/22/31<sup>(a)</sup>  | 1624007  |
| 1600000<sup>EUR</sup> | Arles I BV, Senior Secured Notes, 8.522% (3-Month EURIBOR + 6.500%) due 11/4/30<sup>(a)(b)</sup>  | 1928371  |
| 209000<sup>EUR</sup> | Centrient Holding BV, Senior Secured Notes, 6.750% due 5/30/30  | 221431  |
| 1557600 | Minejesa Capital BV, Senior Secured Notes, 4.625% due 8/10/30  | 1558112  |
| 1593297 | Mong Duong Finance Holdings BV, Senior Secured Notes, 5.125% due 5/7/29  | 1586105  |
| 2012687 | MV24 Capital BV, Senior Secured Notes, 6.748% due 6/1/34  | 2059168  |
| 500000 | Petrobras Global Finance BV, Company Guaranteed Notes, 5.125% due 9/10/30  | 497750  |
|  | Yinson Bergenia Production BV, Senior Secured Notes:<br>|  |
| 493350 | &nbsp;&nbsp;&nbsp; 8.498% due 1/31/45<sup>(a)</sup>  | 523978  |
| 394680 | &nbsp;&nbsp;&nbsp; 8.498% due 1/31/45  | 419182  |
| 700000 | Ziggo Bond Co. BV, Company Guaranteed Notes, 5.125% due 2/28/30<sup>(a)</sup>  | 607373  |
|  | Total Netherlands | 11025477  |
| **Norway – 1.2%**  | **Norway – 1.2%**  | **Norway – 1.2%**  |
| 17500000<sup>NOK</sup> | Bonheur ASA, Senior Unsecured Notes, 6.490% (3-Month NIBOR + 2.350%) due 10/9/29<sup>(a)(b)</sup>  | 1854096  |
| 1231000 | DNO ASA, Senior Unsecured Notes, 8.500% due 3/27/30<sup>(a)</sup>  | 1284500  |
| 1800000 | DNO ASA, Subordinated Notes, step bond to yield, 10.750% due 6/17/85<sup>(a)</sup>  | 1913415  |
| 1500000 | NES Fircroft Bondco AS, Senior Secured Notes, 8.000% due 9/30/29<sup>(a)</sup>  | 1531117  |

---

See Notes to Financial Statements.

229<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Global Fixed Income Opportunities Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Norway – (continued)**  | **Norway – (continued)**  | **Norway – (continued)**  |
| 17000000<sup>NOK</sup> | Nord-troendelag Elektrisitetsverk AS, Senior Unsecured Notes, 4.858% due 9/10/32  | $1775004  |
| 340000 | Twma Finance AS, Senior Secured Notes, 12.250% due 2/10/29<sup>(a)</sup>  | 345100  |
|  | Total Norway | 8703232  |
| **Panama – 0.2%**  | **Panama – 0.2%**  | **Panama – 0.2%**  |
| 1300000 | Intercorp Financial Services Inc., Senior Unsecured Notes, 4.125% due 10/19/27  | 1296790  |
| **Paraguay – 0.1%**  | **Paraguay – 0.1%**  | **Paraguay – 0.1%**  |
| 300000 | Frigorifico Concepcion SA, Senior Secured Notes, 7.700% due 7/21/28<sup>(e)</sup>  | 164154  |
| 200000 | Telefonica Celular del Paraguay SA, Senior Unsecured Notes, 5.875% due 4/15/27  | 199500  |
|  | Total Paraguay | 363654  |
| **Peru – 1.9%**  | **Peru – 1.9%**  | **Peru – 1.9%**  |
| 200000 | &nbsp;&nbsp;&nbsp; Banco BBVA Peru SA, Subordinated Notes, 6.200% (5-Year CMT Index + 2.002%) <br>due 6/7/34<sup>(b)</sup>  | 208273  |
| 3550000 | &nbsp;&nbsp;&nbsp; Banco de Credito del Peru SA, Subordinated Notes, 3.250% <br>(5-Year CMT Index + 2.450%) due 9/30/31<sup>(b)</sup>  | 3508861  |
| 950000 | Banco Internacional del Peru SAA Interbank, Senior Unsecured Notes, 4.800% due 7/15/31<sup>(a)</sup>  | 952470  |
| 2500000 | &nbsp;&nbsp;&nbsp; Banco Internacional del Peru SAA Interbank, Subordinated Notes, 6.397% <br>(5-Year CMT Index + 2.067%) due 4/30/35<sup>(b)</sup>  | 2595125  |
| 2100000 | InRetail Consumer, Senior Secured Notes, 3.250% due 3/22/28  | 2048427  |
| 200000 | Marcobre SAC, Senior Unsecured Notes, 5.750% due 1/22/36<sup>(a)</sup>  | 201500  |
| 2506000 | Minsur SA, Senior Unsecured Notes, 4.500% due 10/28/31  | 2431280  |
| 375050 | Peru LNG Srl, Senior Unsecured Notes, 5.375% due 3/22/30  | 365228  |
| 500000 | Scotiabank Peru SAA, Subordinated Notes, 6.100% (1-Year CMT Index + 2.309%) due 10/1/35<sup>(a)(b)(e)</sup>  | 519595  |
| 600000 | Volcan Compania Minera SAA, Senior Secured Notes, 8.500% due 10/28/32<sup>(a)</sup>  | 627426  |
|  | Total Peru | 13458185  |
| **Portugal – 0.0%**  | **Portugal – 0.0%**  | **Portugal – 0.0%**  |
| 70068 | Invepar, zero coupon, due 12/30/28<sup>(d)</sup>  | —  |
| **Singapore – 2.5%**  | **Singapore – 2.5%**  | **Singapore – 2.5%**  |
| 2500000 | BPRL International Singapore Pte Ltd., Company Guaranteed Notes, 4.375% due 1/18/27  | 2504008  |
| 2900000 | DBS Group Holdings Ltd., Subordinated Notes, 1.822% (5-Year CMT Index + 1.100%) due 3/10/31<sup>(b)</sup>  | 2897280  |
| 800000 | Medco Laurel Tree Pte Ltd., Company Guaranteed Notes, 6.950% due 11/12/28  | 803609  |
| 3000000 | ONGC Videsh Vankorneft Pte Ltd., Company Guaranteed Notes, 3.750% due 7/27/26  | 2994823  |
|  | Oversea-Chinese Banking Corp., Ltd, Subordinated Notes:<br>|  |
| 2900000 | &nbsp;&nbsp;&nbsp; 4.602% (5-Year CMT Index + 1.575%) due 6/15/32<sup>(b)</sup>  | 2915712  |
| 400000 | &nbsp;&nbsp;&nbsp; 4.550% (5-Year CMT Index + 0.800%) due 9/8/35<sup>(b)</sup>  | 402074  |
|  | Seagate Data Storage Technology Pte Ltd., Company Guaranteed Notes:<br>|  |
| 500000 | &nbsp;&nbsp;&nbsp; 5.875% due 7/15/30<sup>(a)</sup>  | 514577  |
| 1433000 | &nbsp;&nbsp;&nbsp; 5.750% due 12/1/34<sup>(a)</sup>  | 1465995  |

---

See Notes to Financial Statements.

230<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Global Fixed Income Opportunities Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **Singapore – (continued)**  | **Singapore – (continued)**  | **Singapore – (continued)**  |
|  | United Overseas Bank Ltd., Subordinated Notes:<br>|  |
| 1600000 | &nbsp;&nbsp;&nbsp; 1.750% (5-Year CMT Index + 1.520%) due 3/16/31<sup>(b)</sup>  | $1598678  |
| 1800000 | &nbsp;&nbsp;&nbsp; 2.000% (5-Year CMT Index + 1.230%) due 10/14/31<sup>(b)</sup>  | 1776094  |
|  | Total Singapore | 17872850  |
| **Spain – 0.5%**  | **Spain – 0.5%**  | **Spain – 0.5%**  |
|  | AI Candelaria - spain- SA, Senior Secured Notes:<br>|  |
| 591667 | &nbsp;&nbsp;&nbsp; 7.500% due 12/15/28  | 600542  |
| 3050000 | &nbsp;&nbsp;&nbsp; 5.750% due 6/15/33<sup>(e)</sup>  | 2717550  |
| 200000 | Termocandelaria Power SA, Company Guaranteed Notes, 7.750% due 9/17/31<sup>(a)</sup> | 208300  |
|  | Total Spain | 3526392  |
| **Sweden – 3.3%**  | **Sweden – 3.3%**  | **Sweden – 3.3%**  |
| 16250000<sup>SEK</sup> | Amwood AB, Senior Secured Notes, 8.244% (3-Month SEK-STIBOR + 6.250%) due 10/25/27<sup>(b)</sup>  | 1896392  |
| 8200000<sup>EUR</sup> | European Entertainment Intressenter BidCo AB, Senior Secured Notes, 9.283% (3-Month EURIBOR + 7.250%) due 9/29/30<sup>(b)</sup>  | 9399401  |
| 1200000<sup>EUR</sup> | &nbsp;&nbsp;&nbsp; Genexis International AB, Senior Secured Notes, 9.555% <br>(3-Month EURIBOR + 7.500%) due 9/6/26<sup>(b)</sup>  | 878373  |
| 483000<sup>EUR</sup> | Geveko AB, Senior Secured Notes, 6.518% (3-Month EURIBOR + 4.500%) due 12/26/28<sup>(b)</sup>  | 577852  |
| 2046920 | Go North Group AB, Senior Secured Notes, 9.446% (SOFRRATE + 5.762%) due 1/22/30<sup>(b)(g)</sup>  | 2046920  |
| 7500000<sup>SEK</sup> | &nbsp;&nbsp;&nbsp; Goldcup 100865 AB, Senior Secured Notes, 7.447% <br>(3-Month SEK-STIBOR + 5.500%) due 7/11/28<sup>(b)</sup>  | 847368  |
| 7000000<sup>SEK</sup> | Novedo Holding AB, Senior Secured Notes, 12.000% due 9/18/28<sup>(f)</sup>  | 670695  |
| 2250000 | Nynas AB, Senior Secured Notes, 11.750% due 6/17/28<sup>(a)</sup>  | 2371598  |
| 3800000<sup>EUR</sup> | Trustly AB, Senior Secured Notes, 8.776% (3-Month EURIBOR + 6.750%) due 10/8/30<sup>(b)</sup>  | 4175794  |
|  | Total Sweden | 22864393  |
| **United Kingdom – 5.1%**  | **United Kingdom – 5.1%**  | **United Kingdom – 5.1%**  |
| 1500000 | 3t Global Bidco PLC, Senior Secured Notes, 11.250% due 5/22/28  | 1481214  |
| 1451000<sup>GBP</sup> | Arqiva Broadcast Finance PLC, Senior Secured Notes, 8.625% due 7/1/30  | 1630930  |
| 830000 | Avianca Midco 2 PLC, Senior Secured Notes, 9.500% due 1/28/31<sup>(a)</sup>  | 838300  |
|  | Azule Energy Finance PLC, Company Guaranteed Notes:<br>|  |
| 2029000 | &nbsp;&nbsp;&nbsp; 8.125% due 1/23/30<sup>(a)</sup>  | 2057893  |
| 1096000 | &nbsp;&nbsp;&nbsp; 8.250% due 1/22/31<sup>(a)</sup>  | 1107551  |
| 1019000 | &nbsp;&nbsp;&nbsp; 8.625% due 1/22/33<sup>(a)</sup>  | 1024916  |
| 6007000<sup>GBP</sup> | Bellis Acquisition Co. PLC, Senior Secured Notes, 8.125% due 5/14/30  | 7448683  |
| 760000 | EnQuest PLC, Company Guaranteed Notes, 11.625% due 11/1/27  | 771067  |
| 1653000<sup>GBP</sup> | Future PLC, Company Guaranteed Notes, 6.750% due 7/10/30  | 2094235  |
| 16380454<sup>SEK</sup> | Impala BondCo PLC, Senior Secured Notes, 12.000% due 10/30/27<sup>(h)</sup>  | 1088649  |
| 200000 | INEOS Finance PLC, Senior Secured Notes, 7.500% due 4/15/29<sup>(a)</sup>  | 178570  |
| 250000 | Ithaca Energy North Sea PLC, Senior Unsecured Notes, 8.125% due 10/15/29<sup>(a)</sup>  | 263172  |

---

See Notes to Financial Statements.

231<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Global Fixed Income Opportunities Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **United Kingdom – (continued)**  | **United Kingdom – (continued)**  | **United Kingdom – (continued)**  |
|  | Jerrold Finco PLC, Senior Secured Notes:<br>|  |
| 2600000<sup>GBP</sup> | &nbsp;&nbsp;&nbsp; 7.875% due 4/15/30  | $3618323  |
| 1095000<sup>GBP</sup> | &nbsp;&nbsp;&nbsp; 7.500% due 6/15/31<sup>(a)</sup>  | 1523467  |
| 1100000 | MARB BondCo PLC, Company Guaranteed Notes, 3.950% due 1/29/31  | 1002677  |
| 650000 | Marks & Spencer PLC, Senior Unsecured Notes, 7.125% due 12/1/37<sup>(a)</sup>  | 728167  |
|  | Mobico Group PLC, Company Guaranteed Notes:<br>|  |
| 318000<sup>GBP</sup> | &nbsp;&nbsp;&nbsp; 3.625% due 11/20/28  | 399081  |
| 601000<sup>EUR</sup> | &nbsp;&nbsp;&nbsp; 4.875% due 9/26/31  | 605992  |
| 1920000<sup>EUR</sup> | PCC Global PLC, Senior Secured Notes, 8.250% due 11/15/30  | 1972647  |
| 208000<sup>EUR</sup> | Project Grand UK PLC, Senior Secured Notes, 9.000% due 6/1/29  | 254457  |
| 2700000<sup>GBP</sup> | RAC Bond Co. PLC, Senior Secured Notes, 5.250% due 11/4/27  | 3629119  |
| 1000000 | Trident Energy Finance PLC, Company Guaranteed Notes, 12.500% due 11/30/29  | 1048433  |
| 202000 | WE Soda Investments Holding PLC, Senior Secured Notes, 9.375% due 2/14/31 | 207432  |
| 380000<sup>GBP</sup> | Zopa Group PLC, Subordinated Notes, 14.400% (5-Year UK Government Note Generic Bid Yield + 9.740%) due 11/25/33<sup>(b)</sup>  | 588093  |
|  | Total United Kingdom | 35563068  |
| **United States – 33.1%**  | **United States – 33.1%**  | **United States – 33.1%**  |
|  | AES Corp., Junior Subordinated Notes:<br>|  |
| 50000 | &nbsp;&nbsp;&nbsp; 7.600% (5-Year CMT Index + 3.201%) due 1/15/55<sup>(b)</sup>  | 50257  |
| 150000 | &nbsp;&nbsp;&nbsp; 6.950% (5-Year CMT Index + 2.890%) due 7/15/55<sup>(b)</sup>  | 144976  |
| 86000 | Allegiant Travel Co., Senior Secured Notes, 7.250% due 8/15/27<sup>(a)</sup>  | 86798  |
| 1300000 | Alliance Resource Operating Partners LP/Alliance Resource Finance Corp., Company Guaranteed Notes, 8.625% due 6/15/29<sup>(a)</sup>  | 1368622  |
| 50000 | Ally Financial Inc., Subordinated Notes, 6.646% (5-Year CMT Index + 2.450%) due 1/17/40<sup>(b)</sup>  | 49883  |
|  | AMC Networks Inc., Senior Secured Notes:<br>|  |
| 1440000 | &nbsp;&nbsp;&nbsp; 10.250% due 1/15/29<sup>(a)</sup>  | 1544404  |
| 50000 | &nbsp;&nbsp;&nbsp; 10.500% due 7/15/32<sup>(a)</sup>  | 51219  |
| 1250000 | American Axle & Manufacturing Inc., Company Guaranteed Notes, 7.750% due 10/15/33<sup>(a)</sup>  | 1270426  |
|  | AmeriGas Partners LP/AmeriGas Finance Corp., Senior Unsecured Notes:<br>|  |
| 1100000 | &nbsp;&nbsp;&nbsp; 9.375% due 6/1/28<sup>(a)</sup>  | 1136943  |
| 200000 | &nbsp;&nbsp;&nbsp; 9.500% due 6/1/30<sup>(a)</sup>  | 214074  |
| 772000 | ANGI Group LLC, Company Guaranteed Notes, 3.875% due 8/15/28<sup>(a)</sup>  | 692877  |
| 1050000 | Anywhere Real Estate Group LLC/Realogy Co.-Issuer Corp., Secured Notes, 9.750% due 4/15/30<sup>(a)</sup>  | 1131387  |
| 1750000 | APLD ComputeCo LLC, Senior Secured Notes, 9.250% due 12/15/30<sup>(a)</sup>  | 1836786  |
| 1200000 | Arsenal AIC Parent LLC, Unsecured Notes, 11.500% due 10/1/31<sup>(a)</sup>  | 1323391  |
| 608000 | AutoNation Inc., Senior Unsecured Notes, 2.400% due 8/1/31  | 546360  |
| 529000 | Azul Secured Finance LLP, Senior Secured Notes, 9.875% due 2/15/31<sup>(a)</sup>  | 532306  |
| 1719000 | BCPE Flavor Debt Merger Sub LLC & BCPE Flavor Issuer Inc., Senior Secured Notes, 9.500% due 7/1/32<sup>(a)</sup>  | 1583414  |
| 50000 | &nbsp;&nbsp;&nbsp; Bread Financial Holdings Inc., Company Guaranteed Notes, 6.750% due <br>5/15/31<sup>(a)</sup>  | 50942  |

---

See Notes to Financial Statements.

232<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Global Fixed Income Opportunities Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **United States – (continued)**  | **United States – (continued)**  | **United States – (continued)**  |
| 450000 | &nbsp;&nbsp;&nbsp; Bread Financial Holdings Inc., Subordinated Notes, 8.375% <br>(5-Year CMT Index + 4.300%) due 6/15/35<sup>(a)(b)</sup>  | &nbsp;&nbsp; $458727  |
| 50000 | Brinker International Inc., Company Guaranteed Notes, 8.250% due 7/15/30<sup>(a)</sup>  | &nbsp;&nbsp; 52669  |
|  | Brink's Co., Company Guaranteed Notes:<br>|  |
| 150000 | &nbsp;&nbsp;&nbsp; 6.500% due 6/15/29<sup>(a)</sup>  | &nbsp;&nbsp; 154470  |
| 50000 | &nbsp;&nbsp;&nbsp; 6.750% due 6/15/32<sup>(a)</sup>  | &nbsp;&nbsp; 51745  |
| 626000 | Bristow Group Inc., Senior Secured Notes, 6.750% due 2/1/33<sup>(a)</sup>  | &nbsp;&nbsp; 635187  |
| 245000 | Brookfield Property REIT Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LL, Senior Secured Notes, 4.500% due 4/1/27<sup>(a)</sup>  | &nbsp;&nbsp; 241755  |
| 896000 | Brundage-Bone Concrete Pumping Holdings Inc., Senior Secured Notes, 7.500% due 2/1/32<sup>(a)</sup>  | &nbsp;&nbsp; 912726  |
| 813000 | Burford Capital Global Finance LLC, Company Guaranteed Notes, 8.500% due 1/15/34<sup>(a)</sup>  | &nbsp;&nbsp; 796890  |
| 1756000 | Cable One Inc., Company Guaranteed Notes, 4.000% due 11/15/30<sup>(a)(e)</sup>  | &nbsp;&nbsp; 1215640  |
| 150000 | California Resources Corp., Company Guaranteed Notes, 7.000% due 1/15/34<sup>(a)</sup> | &nbsp;&nbsp; 152745  |
| 915500 | Carvana Co., Senior Secured Notes, 9.000% due 6/1/31<sup>(a)(f)</sup>  | &nbsp;&nbsp; 1004059  |
| 200000 | CCO Holdings LLC/CCO Holdings Capital Corp., Senior Unsecured Notes, 5.000% due 2/1/28<sup>(a)</sup>  | &nbsp;&nbsp; 199569  |
| 1113000 | Celanese US Holdings LLC, Company Guaranteed Notes, 7.379% due 7/15/32  | &nbsp;&nbsp; 1173344  |
|  | Charles River Laboratories International Inc., Company Guaranteed Notes:<br>|  |
| 350000 | &nbsp;&nbsp;&nbsp; 3.750% due 3/15/29<sup>(a)</sup>  | &nbsp;&nbsp; 336860  |
| 3324000 | &nbsp;&nbsp;&nbsp; 4.000% due 3/15/31<sup>(a)</sup>  | &nbsp;&nbsp; 3138361  |
| 960000 | CHS/Community Health Systems Inc., Senior Secured Notes, 10.875% due 1/15/32<sup>(a)</sup>  | &nbsp;&nbsp; 1040377  |
| 500000 | Cipher Compute LLC, Senior Secured Notes, 7.125% due 11/15/30<sup>(a)</sup>  | &nbsp;&nbsp; 521172  |
| 250000 | Clearway Energy Operating LLC, Company Guaranteed Notes, 4.750% due 3/15/28<sup>(a)</sup>  | &nbsp;&nbsp; 249184  |
| 150000 | Clydesdale Acquisition Holdings Inc., Company Guaranteed Notes, 8.750% due 4/15/30<sup>(a)</sup>  | &nbsp;&nbsp; 149339  |
| 300000 | Clydesdale Acquisition Holdings Inc., Senior Secured Notes, 6.750% due 4/15/32<sup>(a)</sup>  | &nbsp;&nbsp; 302265  |
| 6433314 | Compass Group Diversified Holdings LLC, Company Guaranteed Notes, 5.250% due 4/15/29<sup>(a)</sup>  | &nbsp;&nbsp; 6021902  |
| 2533000 | Compass Inc., Company Guaranteed Notes, 0.250% due 4/15/31<sup>(a)</sup>  | &nbsp;&nbsp; 2416078  |
| 1650000 | Compass Minerals International Inc., Company Guaranteed Notes, 8.000% due 7/1/30<sup>(a)</sup>  | &nbsp;&nbsp; 1740832  |
|  | Comstock Resources Inc., Company Guaranteed Notes:<br>|  |
| 50000 | &nbsp;&nbsp;&nbsp; 6.750% due 3/1/29<sup>(a)</sup>  | &nbsp;&nbsp; 49807  |
| 350000 | &nbsp;&nbsp;&nbsp; 5.875% due 1/15/30<sup>(a)</sup>  | &nbsp;&nbsp; 337310  |
| 1463000 | Concentrix Corp., Senior Unsecured Notes, 6.500% due 3/1/29  | &nbsp;&nbsp; 1445996  |
|  | Cooper-Standard Automotive Inc., Senior Secured Notes:<br>|  |
| 4848000 | &nbsp;&nbsp;&nbsp; 13.500% due 3/31/27<sup>(a)(f)</sup>  | &nbsp;&nbsp; 4956091  |
| 1733000 | &nbsp;&nbsp;&nbsp; 9.250% due 3/1/31<sup>(a)</sup>  | &nbsp;&nbsp; 1737887  |
| 1300000 | CoreCivic Inc., Company Guaranteed Notes, 8.250% due 4/15/29  | &nbsp;&nbsp; 1351800  |

---

See Notes to Financial Statements.

233<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Global Fixed Income Opportunities Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **United States – (continued)**  | **United States – (continued)**  | **United States – (continued)**  |
| 1150000 | Covista Inc., Senior Secured Notes, 5.500% due 3/1/28<sup>(a)</sup>  | $1150000  |
|  | Crescent Energy Finance LLC, Company Guaranteed Notes:<br>|  |
| 200000 | &nbsp;&nbsp;&nbsp; 7.625% due 4/1/32<sup>(a)</sup>  | 202282  |
| 150000 | &nbsp;&nbsp;&nbsp; 7.875% due 4/15/32<sup>(a)</sup>  | 152810  |
| 100000 | &nbsp;&nbsp;&nbsp; 7.375% due 1/15/33<sup>(a)</sup>  | 99346  |
| 6101000 | Crocs Inc., Company Guaranteed Notes, 4.125% due 8/15/31<sup>(a)</sup>  | 5689172  |
| 436000 | CVR Energy Inc., Company Guaranteed Notes, 5.750% due 2/15/28<sup>(a)</sup>  | 435217  |
| 700000 | Delek Logistics Partners LP/Delek Logistics Finance Corp., Company Guaranteed Notes, 7.375% due 6/30/33<sup>(a)</sup>  | 724011  |
| 400000 | Deluxe Corp., Senior Secured Notes, 8.125% due 9/15/29<sup>(a)</sup>  | 419569  |
| 450000 | Directv Financing LLC, Senior Secured Notes, 8.875% due 2/1/30<sup>(a)</sup>  | 450519  |
| 779000 | Directv Financing LLC/Directv Financing Co.-Obligor Inc., Senior Secured Notes, 5.875% due 8/15/27<sup>(a)</sup>  | 779905  |
|  | Discovery Global Holdings Inc., Company Guaranteed Notes:<br>|  |
| 1600000 | &nbsp;&nbsp;&nbsp; 4.279% due 3/15/32  | 1470000  |
| 1450000 | &nbsp;&nbsp;&nbsp; 5.141% due 3/15/52  | 949750  |
|  | Diversified Gas & Oil Corp., Senior Secured Notes:<br>|  |
| 1625000 | &nbsp;&nbsp;&nbsp; 9.750% due 4/9/29<sup>(a)</sup>  | 1617435  |
| 1125000 | &nbsp;&nbsp;&nbsp; 9.750% due 4/9/29  | 1091301  |
| 100000 | EnerSys, Company Guaranteed Notes, 6.625% due 1/15/32<sup>(a)</sup>  | 103148  |
| 1200000 | Enova International Inc., Company Guaranteed Notes, 11.250% due 12/15/28<sup>(a)</sup>  | 1267458  |
| 200000 | Esab Corp., Company Guaranteed Notes, 6.250% due 4/15/29<sup>(a)</sup>  | 205012  |
| 568000<sup>EUR</sup> | Euronet Worldwide Inc., Senior Unsecured Notes, 1.375% due 5/22/26  | 668804  |
| 618000 | EZCORP Inc., Company Guaranteed Notes, 7.375% due 4/1/32<sup>(a)</sup>  | 661840  |
| 1550000 | Ferrellgas LP/Ferrellgas Finance Corp., Company Guaranteed Notes, 9.250% due 1/15/31<sup>(a)</sup>  | 1608185  |
| 150000 | Ferrellgas LP/Ferrellgas Finance Corp., Senior Unsecured Notes, 5.875% due 4/1/29<sup>(a)</sup>  | 145006  |
| 100000 | FirstCash Inc., Company Guaranteed Notes, 6.875% due 3/1/32<sup>(a)</sup>  | 103200  |
| 1238000 | Five Point Operating Co. LP, Company Guaranteed Notes, 8.000% due 10/1/30<sup>(a)</sup>  | 1282023  |
| 300000 | Fortrea Holdings Inc., Senior Secured Notes, 7.500% due 7/1/30<sup>(a)</sup>  | 286250  |
| 10650000 | Forum Energy Technologies Inc., Senior Secured Notes, 10.500% due 11/7/29  | 10990292  |
| 200000 | Garrett Motion Holdings Inc./Garrett LX I SARL, Company Guaranteed Notes, 7.750% due 5/31/32<sup>(a)</sup>  | 211364  |
| 577000 | &nbsp;&nbsp;&nbsp; Gee Automotive Holdings LLC, Company Guaranteed Notes, 7.250% due <br>3/1/31<sup>(a)</sup>  | 586494  |
| 1000000 | Genesis Energy LP/Genesis Energy Finance Corp., Company Guaranteed Notes, 8.000% due 5/15/33  | 1057275  |
|  | Genworth Holdings Inc., Company Guaranteed Notes:<br>|  |
| 911000 | &nbsp;&nbsp;&nbsp; 6.500% due 6/15/34  | 935278  |
| 1080000 | &nbsp;&nbsp;&nbsp; 5.917% (3-Month TSFR + 2.264%) due 11/15/36<sup>(b)</sup>  | 879290  |
| 1250000 | GEO Group Inc., Company Guaranteed Notes, 10.250% due 4/15/31  | 1342158  |
| 150000 | GEO Group Inc., Senior Secured Notes, 8.625% due 4/15/29  | 156077  |
| 1447000 | Getty Images Inc., Company Guaranteed Notes, 14.000% due 3/1/28<sup>(a)(e)</sup>  | 1336666  |

---

See Notes to Financial Statements.

234<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Global Fixed Income Opportunities Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **United States – (continued)**  | **United States – (continued)**  | **United States – (continued)**  |
| 4148000 | Getty Images Inc., Senior Secured Notes, 11.250% due 2/21/30<sup>(a)</sup>  | $3670619  |
| 3698000 | Go Daddy Operating Co. LLC/GD Finance Co. Inc., Company Guaranteed Notes, 5.250% due 12/1/27<sup>(a)</sup>  | 3678482  |
| 450000 | Goat Holdco LLC, Senior Secured Notes, 6.750% due 2/1/32<sup>(a)</sup>  | 465027  |
| 6933460 | GrubHub Holdings Inc., Senior Secured Notes, 13.000% due 7/31/30<sup>(a)(e)(f)</sup>  | 4637230  |
|  | HA Sustainable Infrastructure Capital Inc., Company Guaranteed Notes:<br>|  |
| 50000 | &nbsp;&nbsp;&nbsp; 6.375% due 7/1/34  | 51704  |
| 1000000 | &nbsp;&nbsp;&nbsp; 8.000% (5-Year CMT Index + 4.301%) due 6/1/56<sup>(b)</sup>  | 1053370  |
| 989000 | Harrow Inc., Company Guaranteed Notes, 8.625% due 9/15/30<sup>(a)</sup>  | 1039726  |
|  | Hilcorp Energy I LP/Hilcorp Finance Co., Senior Unsecured Notes:<br>|  |
| 100000 | &nbsp;&nbsp;&nbsp; 6.875% due 5/15/34<sup>(a)</sup>  | 97903  |
| 300000 | &nbsp;&nbsp;&nbsp; 7.250% due 2/15/35<sup>(a)</sup>  | 297130  |
| 100000 | Hillenbrand Inc., Company Guaranteed Notes, 6.250% due 2/15/29  | 98771  |
| 1300000 | HLF Financing SARL LLC/Herbalife International Inc., Senior Secured Notes, 12.250% due 4/15/29<sup>(a)</sup>  | 1388643  |
| 50000 | HNI Corp., Senior Secured Notes, 5.125% due 1/18/29<sup>(a)</sup>  | 49259  |
|  | Howard Hughes Corp., Company Guaranteed Notes:<br>|  |
| 600000 | &nbsp;&nbsp;&nbsp; 4.125% due 2/1/29<sup>(a)</sup>  | 580947  |
| 900000 | &nbsp;&nbsp;&nbsp; 4.375% due 2/1/31<sup>(a)</sup>  | 856001  |
| 1715000 | Huntsman International LLC, Senior Unsecured Notes, 5.700% due 10/15/34  | 1640530  |
| 1469000 | Icahn Enterprises LP/Icahn Enterprises Finance Corp., Senior Secured Notes, 10.000% due 11/15/29<sup>(a)</sup>  | 1450549  |
| 5157000 | Imola Merger Corp., Senior Secured Notes, 4.750% due 5/15/29<sup>(a)</sup>  | 5069616  |
| 577000 | Industrial F&B Investments III Inc., Senior Secured Notes, 7.750% due 2/11/33<sup>(a)</sup>  | 592195  |
| 950000 | Iron Mountain Inc., Company Guaranteed Notes, 4.500% due 2/15/31<sup>(a)</sup>  | 916289  |
| 150000 | Iron Mountain Information Management Services Inc., Company Guaranteed Notes, 5.000% due 7/15/32<sup>(a)</sup>  | 145133  |
| 3297000 | Jane Street Group/JSG Finance Inc., Senior Secured Notes, 6.125% due 11/1/32<sup>(a)</sup>  | 3316686  |
| 1900000 | Jefferies Finance LLC/JFIN Co.-Issuer Corp., Senior Unsecured Notes, 5.000% due 8/15/28<sup>(a)</sup>  | 1806551  |
| 403000 | Jefferson Capital Holdings LLC, Company Guaranteed Notes, 8.250% due 5/15/30<sup>(a)</sup>  | 422220  |
| 500000 | Karoon USA Finance Inc., Senior Secured Notes, 10.500% due 5/14/29<sup>(a)</sup>  | 518750  |
| 150000 | Kinetik Holdings LP, Senior Unsecured Notes, 6.625% due 12/15/28<sup>(a)</sup>  | 154638  |
| 150000 | Knife River Corp., Company Guaranteed Notes, 7.750% due 5/1/31<sup>(a)</sup>  | 156379  |
| 350000 | Kodiak Gas Services LLC, Company Guaranteed Notes, 7.250% due 2/15/29<sup>(a)</sup>  | 362926  |
|  | Kohl's Corp., Senior Unsecured Notes:<br>|  |
| 1700000 | &nbsp;&nbsp;&nbsp; 5.125% due 5/1/31  | 1438726  |
| 350000 | &nbsp;&nbsp;&nbsp; 5.550% due 7/17/45  | 229275  |
| 100000 | Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., Company Guaranteed Notes, 4.250% due 2/1/27<sup>(a)</sup>  | 99300  |
| 600000 | Lamar Media Corp., Company Guaranteed Notes, 3.750% due 2/15/28  | 589990  |
| 5752000 | Leafly Holdings Inc., Senior Unsecured Notes, 8.000% due 7/1/25<sup>@(d)(g)</sup>  | 4889200  |
| 200000 | M/I Homes Inc., Company Guaranteed Notes, 4.950% due 2/1/28  | 199314  |

---

See Notes to Financial Statements.

235<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Global Fixed Income Opportunities Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **United States – (continued)**  | **United States – (continued)**  | **United States – (continued)**  |
|  | Macy's Retail Holdings LLC, Company Guaranteed Notes:<br>|  |
| 600000 | &nbsp;&nbsp;&nbsp; 7.375% due 8/1/33<sup>(a)</sup>  | $628579  |
| 850000 | &nbsp;&nbsp;&nbsp; 5.125% due 1/15/42  | 706133  |
| 550000 | Manitowoc Co., Inc., Secured Notes, 9.250% due 10/1/31<sup>(a)</sup>  | 597860  |
| 400000 | Match Group Holdings II LLC, Senior Unsecured Notes, 5.625% due 2/15/29<sup>(a)</sup>  | 399314  |
| 460000 | Michaels Cos., Inc., Secured Notes, 11.000% due 3/15/34<sup>(a)</sup>  | 429945  |
| 1665000 | Michaels Cos., Inc., Senior Secured Notes, 8.500% due 3/15/33<sup>(a)</sup>  | 1619554  |
| 400000 | Midcap Financial Issuer Trust, Senior Unsecured Notes, 6.500% due 5/1/28<sup>(a)</sup>  | 397029  |
|  | Molina Healthcare Inc., Senior Unsecured Notes:<br>|  |
| 650000 | &nbsp;&nbsp;&nbsp; 4.375% due 6/15/28<sup>(a)</sup>  | 638681  |
| 450000 | &nbsp;&nbsp;&nbsp; 6.500% due 2/15/31<sup>(a)</sup>  | 451438  |
| 50000 | &nbsp;&nbsp;&nbsp; 6.250% due 1/15/33<sup>(a)</sup>  | 49186  |
| 750000 | Moog Inc., Company Guaranteed Notes, 4.250% due 12/15/27<sup>(a)</sup>  | 747917  |
| 700000 | Moss Creek Resources Holdings Inc., Senior Unsecured Notes, 8.250% due 9/1/31<sup>(a)</sup>  | 689812  |
| 4319000<sup>GBP</sup> | MPT Operating Partnership LP/MPT Finance Corp., Company Guaranteed Notes, 3.692% due 6/5/28  | 5246732  |
|  | Nabors Industries Inc., Company Guaranteed Notes:<br>|  |
| 600000 | &nbsp;&nbsp;&nbsp; 8.875% due 8/15/31<sup>(a)</sup>  | 621588  |
| 1200000 | &nbsp;&nbsp;&nbsp; 7.625% due 11/15/32<sup>(a)</sup>  | 1236222  |
| 940000 | Nassau Cos. of New York, Senior Unsecured Notes, 7.875% due 7/15/30<sup>(a)</sup>  | 873440  |
| 2800000 | National Mentor Holdings Inc., Senior Secured Notes, 10.500% due 12/15/30<sup>(a)</sup>  | 2789677  |
| 500000 | NBM US Holdings Inc., Company Guaranteed Notes, 6.625% due 8/6/29  | 505035  |
| 750000 | NCR Atleos Corp., Senior Secured Notes, 9.500% due 4/1/29<sup>(a)</sup>  | 805427  |
| 1750000 | NGL Energy Operating LLC/NGL Energy Finance Corp., Senior Secured Notes, 8.375% due 2/15/32<sup>(a)</sup>  | 1835578  |
|  | Nordstrom Inc., Senior Secured Notes:<br>|  |
| 450000 | &nbsp;&nbsp;&nbsp; 4.375% due 4/1/30  | 433278  |
| 100000 | &nbsp;&nbsp;&nbsp; 4.250% due 8/1/31  | 93184  |
| 1900000 | &nbsp;&nbsp;&nbsp; 5.000% due 1/15/44  | 1447187  |
| 1256000 | Northern Oil & Gas Inc., Senior Unsecured Notes, 7.875% due 10/15/33<sup>(a)</sup>  | 1284035  |
|  | Novelis Corp., Company Guaranteed Notes:<br>|  |
| 1050000 | &nbsp;&nbsp;&nbsp; 4.750% due 1/30/30<sup>(a)</sup>  | 1017560  |
| 1100000 | &nbsp;&nbsp;&nbsp; 3.875% due 8/15/31<sup>(a)</sup>  | 1005289  |
| 50000 | ON Semiconductor Corp., Company Guaranteed Notes, 3.875% due 9/1/28<sup>(a)</sup>  | 48945  |
|  | OneMain Finance Corp., Company Guaranteed Notes:<br>|  |
| 50000 | &nbsp;&nbsp;&nbsp; 7.875% due 3/15/30  | 52298  |
| 300000 | &nbsp;&nbsp;&nbsp; 6.750% due 3/15/32  | 302329  |
| 250000 | &nbsp;&nbsp;&nbsp; 7.125% due 9/15/32  | 255664  |
|  | Oracle Corp., Senior Unsecured Notes:<br>|  |
| 3690000 | &nbsp;&nbsp;&nbsp; 2.650% due 7/15/26  | 3667904  |
| 2662000 | &nbsp;&nbsp;&nbsp; 4.450% due 9/26/30  | 2610766  |
| 750000 | PacifiCorp, Junior Subordinated Notes, 7.375% (5-Year CMT Index + 3.319%) due 9/15/55<sup>(b)</sup>  | 759579  |

---

See Notes to Financial Statements.

236<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Global Fixed Income Opportunities Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **United States – (continued)**  | **United States – (continued)**  | **United States – (continued)**  |
| 2498000 | Paradigm Parent LLC & Paradigm Parent CO-Issuer Inc., Senior Secured Notes, 8.750% due 4/17/32<sup>(a)</sup>  | $2160770  |
| 1300000 | Park-Ohio Industries Inc., Senior Secured Notes, 8.500% due 8/1/30<sup>(a)</sup>  | 1349695  |
|  | PBF Holding Co. LLC/PBF Finance Corp., Company Guaranteed Notes:<br>|  |
| 1250000 | &nbsp;&nbsp;&nbsp; 9.875% due 3/15/30<sup>(a)</sup>  | 1326724  |
| 450000 | &nbsp;&nbsp;&nbsp; 7.875% due 9/15/30<sup>(a)</sup>  | 451560  |
| 150000 | Pediatrix Medical Group Inc., Company Guaranteed Notes, 5.375% due 2/15/30<sup>(a)</sup>  | 149030  |
| 200000 | Phinia Inc., Senior Secured Notes, 6.750% due 4/15/29<sup>(a)</sup>  | 206708  |
| 4826000 | Prime Healthcare Services Inc., Senior Secured Notes, 9.375% due 9/1/29<sup>(a)</sup>  | 5040914  |
| 150000 | Prospect Capital Corp., Senior Unsecured Notes, 3.437% due 10/15/28  | 132665  |
| 250000 | Rain Carbon Inc., Senior Secured Notes, 12.250% due 9/1/29<sup>(a)</sup>  | 266222  |
| 550000 | Rand Parent LLC, Senior Secured Notes, 8.500% due 2/15/30<sup>(a)</sup>  | 573717  |
|  | Resorts World Las Vegas LLC/RWLV Capital Inc., Company Guaranteed Notes:<br>|  |
| 400000 | &nbsp;&nbsp;&nbsp; 4.625% due 4/16/29<sup>(a)</sup>  | 364590  |
| 1200000 | &nbsp;&nbsp;&nbsp; 8.450% due 7/27/30<sup>(a)</sup>  | 1223042  |
|  | Rithm Capital Corp., Senior Unsecured Notes:<br>|  |
| 1400000 | &nbsp;&nbsp;&nbsp; 8.000% due 4/1/29<sup>(a)</sup>  | 1408882  |
| 300000 | &nbsp;&nbsp;&nbsp; 8.000% due 7/15/30<sup>(a)</sup>  | 301383  |
| 737000 | RR Donnelley & Sons Co., Secured Notes, 10.875% due 8/1/29<sup>(a)</sup>  | 754346  |
| 2624000 | RR Donnelley & Sons Co., Senior Secured Notes, 9.500% due 8/1/29<sup>(a)</sup>  | 2703846  |
| 891000 | Sabre Financial Borrower LLC, Senior Secured Notes, 11.125% due 6/15/29<sup>(a)</sup>  | 858506  |
| 2164000 | Sabre GLBL Inc., Senior Secured Notes, 11.125% due 7/15/30<sup>(a)</sup>  | 1568900  |
| 100000 | Scientific Games Holdings LP/Scientific Games US FinCo Inc., Senior Unsecured Notes, 6.625% due 3/1/30<sup>(a)</sup>  | 90624  |
| 100000 | Sealed Air Corp./Sealed Air Corp. US, Company Guaranteed Notes, 6.125% due 2/1/28<sup>(a)</sup>  | 101389  |
| 1150000 | SES AMERICOM Inc., Company Guaranteed Notes, 5.300% due 3/25/44<sup>(a)</sup>  | 940389  |
| 1432000 | SierraCol Energy Andina LLC/SierraCol Energy Arauca/Colombia Energy Development, Company Guaranteed Notes, 9.000% due 11/14/30<sup>(a)</sup>  | 1455270  |
| 1450000 | Sotheby's, Senior Secured Notes, 7.375% due 10/15/27<sup>(a)</sup>  | 1441164  |
| 286000 | Staples Inc., Senior Secured Notes, 10.750% due 9/1/29<sup>(a)</sup>  | 262423  |
| 2010000 | Stonex Escrow Issuer LLC, Secured Notes, 6.875% due 7/15/32<sup>(a)</sup>  | 2085839  |
| 200000 | StoneX Group Inc., Secured Notes, 7.875% due 3/1/31<sup>(a)</sup>  | 212076  |
| 4518000 | Summit Midstream Holdings LLC, Senior Secured Notes, 8.625% due 10/31/29<sup>(a)</sup>  | 4728629  |
| 1621000 | SunCoke Energy Inc., Senior Secured Notes, 4.875% due 6/30/29<sup>(a)</sup>  | 1480712  |
| 1250000 | Synchrony Financial, Subordinated Notes, 7.250% due 2/2/33  | 1318174  |
| 1550000 | Talos Production Inc., Secured Notes, 9.375% due 2/1/31<sup>(a)</sup>  | 1649220  |
| 350000 | Taylor Morrison Communities Inc., Company Guaranteed Notes, 5.750% due 1/15/28<sup>(a)</sup>  | 356997  |
| 1626000 | TEAM Services Holding Inc., Senior Secured Notes, 9.000% due 2/15/33<sup>(a)</sup>  | 1590488  |
| 50000 | TerraForm Power Operating LLC, Company Guaranteed Notes, 4.750% due 1/15/30<sup>(a)</sup>  | 48882  |
| 300000 | Tidewater Inc., Company Guaranteed Notes, 9.125% due 7/15/30<sup>(a)</sup>  | 324541  |
| 1219000 | TKC Holdings Inc., Secured Notes, 12.000% due 2/15/31<sup>(a)</sup>  | 1281268  |

---

See Notes to Financial Statements.

237<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Global Fixed Income Opportunities Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  | **CORPORATE BONDS & NOTES – (continued)**  |
| **United States – (continued)**  | **United States – (continued)**  | **United States – (continued)**  |
| 859000 | TKC Holdings Inc., Senior Secured Notes, 8.500% due 8/15/30<sup>(a)</sup>  | $879006  |
| 50000 | TransDigm Inc., Senior Secured Notes, 6.375% due 3/1/29<sup>(a)</sup>  | 51359  |
| 500000 | Travel + Leisure Co., Senior Secured Notes, 6.000% due 4/1/27  | 506161  |
| 350000 | TTM Technologies Inc., Company Guaranteed Notes, 4.000% due 3/1/29<sup>(a)</sup>  | 339658  |
| 1700000 | Turning Point Brands Inc., Senior Secured Notes, 7.625% due 3/15/32<sup>(a)</sup>  | 1823010  |
| 4375000 | Uber Technologies Inc., Company Guaranteed Notes, 4.500% due 8/15/29<sup>(a)</sup>  | 4378474  |
| 2437000 | Unisys Corp., Senior Secured Notes, 10.625% due 1/15/31<sup>(a)</sup>  | 2053233  |
| 50000 | United Rentals North America Inc., Company Guaranteed Notes, 4.875% due 1/15/28  | 49971  |
| 800000 | Univision Communications Inc., Senior Secured Notes, 8.500% due 7/31/31<sup>(a)</sup>  | 818725  |
| 50000 | Venture Global LNG Inc., Senior Secured Notes, 9.875% due 2/1/32<sup>(a)</sup>  | 52972  |
| 3576000 | Viking Baked Goods Acquisition Corp., Senior Secured Notes, 8.625% due 11/1/31<sup>(a)</sup>  | 3619978  |
| 450000 | W&T Offshore Inc., Secured Notes, 10.750% due 2/1/29<sup>(a)</sup>  | 449558  |
| 200000 | Wabash National Corp., Company Guaranteed Notes, 4.500% due 10/15/28<sup>(a)</sup>  | 184234  |
| 1200000 | Whirlpool Corp., Senior Unsecured Notes, 5.500% due 3/1/33  | 1146202  |
| 500000 | William Carter Co., Company Guaranteed Notes, 7.375% due 2/15/31<sup>(a)</sup>  | 514966  |
| 1000000 | Wipro IT Services LLC, Company Guaranteed Notes, 1.500% due 6/23/26  | 992047  |
| 1450000 | WULF Compute LLC, Senior Secured Notes, 7.750% due 10/15/30<sup>(a)</sup>  | 1535570  |
| 150000 | Wyndham Hotels & Resorts Inc., Company Guaranteed Notes, 4.375% due 8/15/28<sup>(a)</sup>  | 148940  |
|  | XPLR Infrastructure Operating Partners LP, Company Guaranteed Notes:<br>|  |
| 1050000 | &nbsp;&nbsp;&nbsp; 4.500% due 9/15/27<sup>(a)</sup>  | 1045508  |
| 100000 | &nbsp;&nbsp;&nbsp; 8.375% due 1/15/31<sup>(a)</sup>  | 105885  |
| 100000 | &nbsp;&nbsp;&nbsp; 8.625% due 3/15/33<sup>(a)</sup>  | 105849  |
| 850000 | XPLR Infrastructure Operating Partners LP, Senior Unsecured Notes, 7.250% due 1/15/29<sup>(a)</sup>  | 882258  |
| 5394000 | XPO Inc., Senior Secured Notes, 6.250% due 6/1/28<sup>(a)</sup>  | 5480719  |
| 500000 | &nbsp;&nbsp;&nbsp; ZF North America Capital Inc., Company Guaranteed Notes, 6.875% due <br>4/14/28<sup>(a)</sup>  | 516805  |
| 3715000 | Ziff Davis Inc., Company Guaranteed Notes, 4.625% due 10/15/30<sup>(a)</sup>  | 3338857  |
|  | Total United States | 232956763  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL CORPORATE BONDS & NOTES** <br>**(Cost – $545,506,576)** | **546092219**  |
| **SENIOR LOANS<sup>(b)</sup> – 4.9%**  | **SENIOR LOANS<sup>(b)</sup> – 4.9%**  | **SENIOR LOANS<sup>(b)</sup> – 4.9%**  |
| **United States – 4.9%**  | **United States – 4.9%**  | **United States – 4.9%**  |
| 4537674 | Audacy Capital LLC, 9.787% (1-Month USD-SOFR + 0.600%) due 10/1/29 | 3400034  |
| 3256110 | &nbsp;&nbsp;&nbsp; Charter Communications Operating LLC, 5.911% (3-Month USD-SOFR + 0.225%) <br>due 12/15/31 | 3252854  |
| 7484529 | CMG Media Corp., 7.272% (3-Month USD-SOFR + 0.350%) due 6/18/29 | 7061653  |
|  | Container Store Inc.:<br>|  |
| 1751633 | &nbsp;&nbsp;&nbsp; 0.000% (1-Month USD-SOFR + 0.650%) due 4/30/29<sup>#@</sup> | 1751633  |
| 187219 | &nbsp;&nbsp;&nbsp; 0.000% (6-Month USD-SOFR + 0.500%) due 7/30/29<sup>#@</sup> | 37444  |
| 1566348 | &nbsp;&nbsp;&nbsp; 4.673% (1-Month USD-SOFR + 0.550%) due 7/30/29<sup>@</sup> | 1331396  |

---

See Notes to Financial Statements.

238<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Global Fixed Income Opportunities Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **SENIOR LOANS<sup>(b)</sup> – (continued)**  | **SENIOR LOANS<sup>(b)</sup> – (continued)**  | **SENIOR LOANS<sup>(b)</sup> – (continued)**  |
| **United States – (continued)**  | **United States – (continued)**  | **United States – (continued)**  |
| 3944009 | DISH DBS Issuer LLC, 11.250% (1-Month USD-SOFR + 1.125%) due 6/29/29 | $3959785  |
| 329093 | Elevate Textiles Inc., 12.311% (3-Month USD-SOFR + 0.850%) due 9/30/27 | 329301  |
| 7999726 | Inotiv Inc., 10.499% (3-Month USD-SOFR + 0.650%) due 11/5/26<sup>@</sup> | 6824806  |
|  | Mountaineer Merger Corp.:<br>|  |
| 101600 | &nbsp;&nbsp;&nbsp; 4.672% (3-Month USD-SOFR + 0.700%) due 6/14/30<sup>(g)</sup> | 101600  |
| 165251 | &nbsp;&nbsp;&nbsp; 11.659% (3-Month USD-SOFR + 0.800%) due 6/14/30<sup>(g)</sup> | 165251  |
| 244763 | &nbsp;&nbsp;&nbsp; 11.667% (3-Month USD-SOFR + 0.800%) due 6/14/30<sup>(g)</sup> | 244763  |
| 585000 | Sweetwater Borrower LLC, 7.660% (1-Month USD-SOFR + 0.400%) due 2/17/33 | 585731  |
| 5607032 | TPC Group Inc., 9.386% (6-Month USD-SOFR + 0.575%) due 12/16/31 | 5006631  |
|  | Total United States | 34052882  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL SENIOR LOANS** <br>**(Cost – $36,545,313)** | **34052882**  |
| **SOVEREIGN BONDS – 1.5%**  | **SOVEREIGN BONDS – 1.5%**  | **SOVEREIGN BONDS – 1.5%**  |
| **Argentina – 0.2%**  | **Argentina – 0.2%**  | **Argentina – 0.2%**  |
| 1771000 | Provincia de Cordoba, 8.600% due 2/3/35<sup>(a)</sup>  | 1724010  |
| **Brazil – 0.1%**  | **Brazil – 0.1%**  | **Brazil – 0.1%**  |
| 700000 | Brazilian Government International Bond, 4.750% due 1/14/50  | 524195  |
| **Dominican Republic – 0.3%**  | **Dominican Republic – 0.3%**  | **Dominican Republic – 0.3%**  |
|  | Dominican Republic International Bond:<br>|  |
| 500000 | &nbsp;&nbsp;&nbsp; 5.950% due 1/25/27  | 505610  |
| 1200000 | &nbsp;&nbsp;&nbsp; 5.500% due 2/22/29  | 1221180  |
| 200000 | &nbsp;&nbsp;&nbsp; 4.500% due 1/30/30  | 195280  |
| 350000 | &nbsp;&nbsp;&nbsp; 5.750% due 3/17/34<sup>(a)</sup>  | 349825  |
|  | Total Dominican Republic | 2271895  |
| **Guatemala – 0.3%**  | **Guatemala – 0.3%**  | **Guatemala – 0.3%**  |
| 1800000 | Guatemala Government Bond, 5.250% due 8/10/29  | 1832976  |
| **Mexico – 0.1%**  | **Mexico – 0.1%**  | **Mexico – 0.1%**  |
|  | Mexico Government International Bond:<br>|  |
| 450000 | &nbsp;&nbsp;&nbsp; 4.500% due 4/22/29  | 450900  |
| 226000<sup>EUR</sup> | &nbsp;&nbsp;&nbsp; 5.375% due 5/16/40  | 270179  |
|  | Total Mexico | 721079  |
| **Morocco – 0.2%**  | **Morocco – 0.2%**  | **Morocco – 0.2%**  |
|  | Morocco Government International Bond:<br>|  |
| 800000 | &nbsp;&nbsp;&nbsp; 2.375% due 12/15/27  | 773974  |
| 500000 | &nbsp;&nbsp;&nbsp; 4.000% due 12/15/50  | 367796  |
|  | Total Morocco | 1141770  |
| **Paraguay – 0.2%**  | **Paraguay – 0.2%**  | **Paraguay – 0.2%**  |
| 1400000 | Paraguay Government International Bond, 4.700% due 3/27/27  | 1413944  |
| **Trinidad – 0.1%**  | **Trinidad – 0.1%**  | **Trinidad – 0.1%**  |
| 700000 | Trinidad & Tobago Government International Bond, 6.500% due 1/28/36<sup>(a)</sup>  | 707350  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL SOVEREIGN BONDS** <br>**(Cost – $10,180,995)** | **10337219**  |

---

See Notes to Financial Statements.

239<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Global Fixed Income Opportunities Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units†** | **Security** | **Value**  |
| **U.S. GOVERNMENT AGENCY & OBLIGATION – 0.7%** | **U.S. GOVERNMENT AGENCY & OBLIGATION – 0.7%** | **U.S. GOVERNMENT AGENCY & OBLIGATION – 0.7%** |
| **U.S. GOVERNMENT OBLIGATION – 0.7%**  | **U.S. GOVERNMENT OBLIGATION – 0.7%**  | **U.S. GOVERNMENT OBLIGATION – 0.7%**  |
| 4899715 | &nbsp;&nbsp;&nbsp; U.S. Treasury Inflation Indexed Notes, 1.875% due 7/15/35 <br>(Cost – $4,990,856) | $5002388  |
| **ASSET-BACKED SECURITIES – 0.3%**  | **ASSET-BACKED SECURITIES – 0.3%**  | **ASSET-BACKED SECURITIES – 0.3%**  |
| **Forest Products & Paper – 0.1%**  | **Forest Products & Paper – 0.1%**  | **Forest Products & Paper – 0.1%**  |
| 1053065<sup>EUR</sup> | Fiber Midco SpA, 10.750% due 6/15/29<sup>(f)</sup>  | 923837  |
| **Real Estate – 0.2%**  | **Real Estate – 0.2%**  | **Real Estate – 0.2%**  |
| 1213634<sup>EUR</sup> | Vivion Investments SARL, 6.500% due 2/28/29<sup>(f)</sup>  | 1441281  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL ASSET-BACKED SECURITIES** <br>**(Cost – $2,467,323)** | **2365118**  |
| **Shares/Units** |  |  |
| **COMMON STOCKS – 4.6%**  | **COMMON STOCKS – 4.6%**  | **COMMON STOCKS – 4.6%**  |
| **Australia – 0.0%**  | **Australia – 0.0%**  | **Australia – 0.0%**  |
| 14360 | Champion Iron Ltd., Class Common S Shares  | 54943  |
| **Canada – 0.0%**  | **Canada – 0.0%**  | **Canada – 0.0%**  |
| 2362767 | Cannabist Co. Holdings Inc.<sup>\*</sup>  | —  |
| **Mexico – 0.2%**  | **Mexico – 0.2%**  | **Mexico – 0.2%**  |
| 115382 | Globa Terra Acquisition Corp., Class A Shares<sup>\*</sup>  | 1173435  |
| **Sweden – 0.0%**  | **Sweden – 0.0%**  | **Sweden – 0.0%**  |
| 751700798 | Go North Group AB<sup>\*(d)(g)</sup>  | —  |
| **United Kingdom – 0.3%**  | **United Kingdom – 0.3%**  | **United Kingdom – 0.3%**  |
| 204000 | Axiom Intelligence Acquisition Corp. 1, Class A Shares<sup>\*(d)</sup>  | 2070600  |
| **United States – 4.1%**  | **United States – 4.1%**  | **United States – 4.1%**  |
| 278000 | Agriculture & Natural Solutions Acquisition Corp.<sup>\*(d)</sup>  | 3124720  |
| 15560 | Alpha Partners Technology<sup>\*(g)(d)</sup>  | —  |
| 136697 | Andretti Acquisition Corp. II, Class A Shares<sup>\*</sup>  | 1447621  |
| 250000 | Berto Acquisition Corp.<sup>\*</sup>  | 2552500  |
| 2362767 | Cannabist Co. Holdings Inc.<sup>\*(d)</sup>  | 69274  |
| 219000 | Churchill Capital Corp. IX<sup>\*</sup>  | 2332350  |
| 28570 | Euronet Worldwide Inc.<sup>\*</sup>  | 1987044  |
| 73113 | GCI Liberty Inc., Class C Shares<sup>\*</sup>  | 2876997  |
| 100000 | Inflection Point Acquisition Corp. III, Class A Shares<sup>\*</sup>  | 1020000  |
| 34451 | Ingram Micro Holding Corp.  | 712791  |
| 146385 | M3-Brigade Acquisition V Corp., Class A Shares<sup>\*</sup>  | 1563392  |
| 4826099 | Mountaineer Merger Corp.<sup>\*(d)(g)</sup>  | —  |
| 2735078 | ProSomnus Sleep Technologies Inc.<sup>\*@(d)(g)</sup>  | 2735078  |
| 57 | Real Alloy Holding Inc.<sup>\*(d)(g)</sup>  | 3023120  |
| 175600 | Roman DBDR Acquisition Corp. II<sup>\*</sup>  | 1831508  |
| 73000 | Silverbox Corp. IV, Class A Shares<sup>\*</sup>  | 780370  |
| 50600 | SIM Acquisition Corp. I, Class A Shares<sup>\*</sup>  | 541420  |
| 238311 | UpHealth Inc.<sup>\*(d)(g)</sup>  |  |

---

See Notes to Financial Statements.

240<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Global Fixed Income Opportunities Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units**  | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **United States – (continued)**  | **United States – (continued)**  | **United States – (continued)**  |
| 147000 | Vendome Acquisition Corp. I, Class A Shares<sup>\*</sup>  | $1481760  |
| 21453 | Versant Media Group Inc.<sup>\*</sup>  | 714814  |
|  | Total United States | 28794759  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>**(Cost – $33,242,364)** | **32093737**  |
| **EXCHANGE TRADED FUND (ETF) – 2.2%**  | **EXCHANGE TRADED FUND (ETF) – 2.2%**  | **EXCHANGE TRADED FUND (ETF) – 2.2%**  |
| **United States – 2.2%**  | **United States – 2.2%**  | **United States – 2.2%**  |
| 422265 | &nbsp;&nbsp;&nbsp; Xtrackers $ High Yield Corporate Bond <br>(Cost – $15,265,302) | 15590024  |
| **PREFERRED STOCKS – 1.1%**  | **PREFERRED STOCKS – 1.1%**  | **PREFERRED STOCKS – 1.1%**  |
| **United States – 1.1%**  | **United States – 1.1%**  | **United States – 1.1%**  |
| 71733 | CTO Realty Growth Inc., 6.375%<sup>(c)</sup>  | 1504241  |
| 4866198 | Mountaineer Merger Corp., 0.000%<sup>#\*(d)(g)</sup>  | 512615  |
| 196289 | NGL Energy Partners LP, 11.147% (3-Month TSFR + 7.475%)<sup>(b)(c)</sup>  | 4807118  |
| 43599 | Saratoga Investment Corp., 6.000%  | 1079075  |
|  | Total United States | 7903049  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL PREFERRED STOCKS** <br>**(Cost – $11,217,288)** | **7903049**  |
| **LIMITED PARTNERSHIP – 0.1%**  | **LIMITED PARTNERSHIP – 0.1%**  | **LIMITED PARTNERSHIP – 0.1%**  |
| **United States – 0.1%**  | **United States – 0.1%**  | **United States – 0.1%**  |
| 25893 | &nbsp;&nbsp;&nbsp; Star Group LP <br>(Cost – $314,851) | 332725  |
| **CONVERTIBLE PREFERRED STOCK – 0.0%**  | **CONVERTIBLE PREFERRED STOCK – 0.0%**  | **CONVERTIBLE PREFERRED STOCK – 0.0%**  |
| 5849 | &nbsp;&nbsp;&nbsp; Oracle Corp., 6.500%<sup>\*</sup> <br>(Cost – $292,450) | 268996  |
| **WARRANTS – 0.0%**  | **WARRANTS – 0.0%**  | **WARRANTS – 0.0%**  |
| **United States – 0.0%**  | **United States – 0.0%**  | **United States – 0.0%**  |
| 14538 | Audacity Capital Management<sup>\*(g)</sup>  | 43614  |
| 36249 | Leafly Holdings Inc.<sup>\*@(g)(d)</sup>  | —  |
| 1061473 | Mcdermott International Ltd.<sup>\*(d)(g)</sup>  | —  |
|  | Total United States | 43614  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL WARRANTS** <br>**(Cost – $868,011)** | **43614**  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS** <br>**(Cost – $660,891,329)** | **654081971** |

---

See Notes to Financial Statements.

241<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Global Fixed Income Opportunities Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount†** | **Security** | **Value**  |
| **SHORT-TERM INVESTMENTS – 5.5%**  | **SHORT-TERM INVESTMENTS – 5.5%**  | **SHORT-TERM INVESTMENTS – 5.5%**  |
| **COMMERCIAL PAPERS – 2.6%**  | **COMMERCIAL PAPERS – 2.6%**  | **COMMERCIAL PAPERS – 2.6%**  |
| 2464000 | Bacardi-Martini BV, 4.004% due 3/5/26<sup>(a)(i)</sup>  | $2462339  |
| 2013000 | Crown Castle Inc., 4.101% due 3/19/26<sup>(a)(i)</sup>  | 2008321  |
| 4465000 | Genuine Parts Co., 4.217% due 3/19/26<sup>(a)(i)</sup>  | 4454813  |
| 4660000 | HCA Inc., 4.103% due 3/10/26<sup>(a)(i)</sup>  | 4654180  |
| 4865000 | Stanley Black & Decker Inc., 3.958% due 3/18/26<sup>(a)(i)</sup>  | 4854846  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL COMMERCIAL PAPERS** <br>**(Cost – $18,438,584)** | **18434499**  |
| **CORPORATE NOTE – 0.4%**  | **CORPORATE NOTE – 0.4%**  | **CORPORATE NOTE – 0.4%**  |
| 2815588 | &nbsp;&nbsp;&nbsp; Go North Group AB, 27.896% due 3/17/26<sup>(d)(g)(i)</sup> <br>(Cost – $2,791,777) | 2815588  |
| **TIME DEPOSITS – 2.5%**  | **TIME DEPOSITS – 2.5%**  | **TIME DEPOSITS – 2.5%**  |
|  | Citibank – London:<br>|  |
| 2198290<sup>EUR</sup> | &nbsp;&nbsp;&nbsp; 0.880% due 3/2/26  | 2597500  |
| 969160<sup>GBP</sup> | &nbsp;&nbsp;&nbsp; 2.680% due 3/2/26  | 1306088  |
| 4760624 | Citibank – New York, 2.980% due 3/2/26  | 4760624  |
| 1675934 | JPMorgan Chase & Co. – New York, 2.980% due 3/2/26  | 1675934  |
| 3990674 | Royal Bank of Canada – Toronto, 2.980% due 3/2/26  | 3990674  |
|  | Skandinaviska Enskilda Banken AB – Stockholm:<br>|  |
| 391958<sup>SEK</sup> | &nbsp;&nbsp;&nbsp; 0.670% due 3/2/26  | 43416  |
| 3214451 | &nbsp;&nbsp;&nbsp; 2.980% due 3/2/26  | 3214451  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL TIME DEPOSITS** <br>**(Cost – $17,588,687)** | **17588687**  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL SHORT-TERM INVESTMENTS** <br>**(Cost – $38,819,048)** | **38838774**  |
| **Shares/Units** |  |  |
| **INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 1.9%**  | **INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 1.9%**  | **INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 1.9%**  |
| **MONEY MARKET FUND – 1.9%**  | **MONEY MARKET FUND – 1.9%**  | **MONEY MARKET FUND – 1.9%**  |
| 13699494 | &nbsp;&nbsp;&nbsp; Federated Government Obligations Fund, Premier Class, 3.593%<sup>(j)</sup> <br>(Cost – $13,699,494) | 13699494  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS – 100.4%** <br>**(Cost – $713,409,871)** | **706620239**  |
|  | Liabilities in Excess of Other Assets – (0.4)% | (2752701)  |
|  | **TOTAL NET ASSETS – 100.0%** | **$703867538**  |

---

&nbsp;&nbsp;&nbsp;&nbsp;† Face amount denominated in U.S. dollars, unless
 otherwise noted.

# Security issued with zero coupon. Income is recognized through accretion of discount.

\* Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(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 February 28, 2026, amounts to $290,904,292 and represents 41.33% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Variable rate security. Interest rate disclosed
 is that which was in effect at February 28, 2026.

See Notes to Financial Statements.

242<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Global Fixed Income Opportunities Fund(continued)** 

&nbsp;&nbsp;&nbsp;&nbsp;(c) Security is perpetual in nature and has no stated
 maturity date.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Illiquid security. The aggregate value of illiquid
 holdings at February 28, 2026, amounts to $23,061,697 and represents 3.28% of net assets.

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

&nbsp;&nbsp;&nbsp;&nbsp;(f) Payment in-kind security for which part of
 the income earned may be paid as additional principal. At the option of the issuer.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Security is valued in good faith at fair value
 by or under the direction of the Board of Trustees using significant unobservable inputs.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Security is currently in default.

&nbsp;&nbsp;&nbsp;&nbsp;(i) Rate shown represents yield-to-maturity.

&nbsp;&nbsp;&nbsp;&nbsp;(j) Represents investment of collateral received from
 securities lending transactions.

@ Restricted security – Investment in security not registered under the Securities Act of 1933. The investment is deemed to not be liquid and may be sold only to qualified buyers.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Security** | **First** <br>**Acquisition** <br>**Date** | **First** <br>**Acquisition** <br>**Cost** | **Market**<br>**Value** | **Percent of**<br>**Net Assets**  |
| Container Store Inc.:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; 0.000% (1-Month USD-SOFR + 0.650%) due 4/30/29 | 9/12/2025 | $1495828 | $1751633 | &nbsp;&nbsp;&nbsp; 0.25%  |
| &nbsp;&nbsp;&nbsp; 4.673% (1-Month USD-SOFR + 0.550%) due 7/30/29 | 9/15/2025 | 1319808 | 1331396 | &nbsp;&nbsp;&nbsp; 0.19%  |
| &nbsp;&nbsp;&nbsp; 0.000% (6-Month USD-SOFR + 0.500%) due 7/30/29 | 1/28/2025 | 1052761 | 37444 | &nbsp;&nbsp;&nbsp; 0.01%  |
| Inotiv Inc., 10.499% (3-Month USD-SOFR + 0.650%) due 11/5/26 | 9/21/2021 | 4204200 | 6824806 | &nbsp;&nbsp;&nbsp; 0.97%  |
| Leafly Holdings Inc., Senior Unsecured Notes, 8.000% due 7/1/25 | 2/4/2022 | 7109000 | 4889200 | &nbsp;&nbsp;&nbsp; 0.69%  |
| Leafly Holdings Inc. | 2/7/2022 |  |  | &nbsp;&nbsp;&nbsp; 0.00%<sup>\*</sup>  |
| ProSomnus Sleep Technologies Inc. | 8/6/2024 | 4003437 | 2735078 | &nbsp;&nbsp;&nbsp;&nbsp;0.39%  |
|  |  |  | **$17569557** | &nbsp;&nbsp;&nbsp; **2.50%** |

---

<u>Abbreviations used in this schedule:</u>

CMT — Constant Maturity Treasury Index

EURIBOR — Euro Interbank Offered Rate

ICE — Intercontinental Exchange

LLC — Limited Liability Company

LP — Limited Partnership

NIBOR — Norwegian Interbank Offered Rate

PLC — Public Limited Company

REIT — Real Estate Investment Trust

SARL — Société à Responsabilité Limitée

SOFR — Secured Overnight Financing Rate

STIBOR — Stockholm Interbank Offered Rate

TSFR — CME Term SOFR Reference Rate

See Notes to Financial Statements.

243<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Global Fixed Income Opportunities Fund(continued)** 

**<u>Summary of Investments by Security Type^</u>** 

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 77.3%  |
| Senior Loans | 4.8  |
| Common Stocks | 4.5  |
| Exchange Traded Fund (ETF) | 2.2  |
| Sovereign Bonds | 1.5  |
| Preferred Stocks | 1.1  |
| U.S. Government Agency & Obligation | 0.7  |
| Asset-Backed Securities | 0.3  |
| Limited Partnership | 0.1  |
| Convertible Preferred Stock | 0.0<sup>\*</sup>  |
| Warrants | 0.0<sup>\*</sup>  |
| Short-Term Investments | 5.5  |
| Money Market Fund | 2.0  |
|  | 100.0% |

---

---

| | |
|:---|:---|
| ^<br>| As a percentage of total investments.  |

---

\* Position represents less than 0.05%. 

**Schedule of Options Contracts Written**

**Equity Options** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number of** <br>**Contracts** | **Notional** <br>**Amount** | **Security Name** | **Counterparty** | **Expiration** <br>**Date** | **Exercise** <br>**Rate** | **Value**  |
| 175 | $688625 | GCI Liberty Inc., Put | &nbsp;&nbsp;&nbsp;&nbsp; BNP | 4/17/26 | $30.00 | $(3500)  |
| 292 | 1149020 | GCI Liberty Inc., Call | &nbsp;&nbsp;&nbsp;&nbsp; BNP | 4/17/26 | 35.00 | (154760)  |
| 175 | 688625 | GCI Liberty Inc., Call | &nbsp;&nbsp;&nbsp;&nbsp; BNP | 4/17/26 | 40.00 | (33250)  |
|  |  | &nbsp;&nbsp;&nbsp; **TOTAL OPTIONS CONTRACTS WRITTEN**<br>**(Premiums received — $224,860)** |  |  |  | **$(191510)** |

---

See Notes to Financial Statements.

244<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Global Fixed Income Opportunities Fund(continued)** 

At February 28, 2026, Destinations Global Fixed Income Opportunities Fund had open forward foreign currency contracts as described below.

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Foreign Currency** | **Local** <br>**Currency** | **Market** <br>**Value** | **Settlement** <br>**Date** | **Unrealized** <br>**Appreciation** | **Unrealized** <br>(Depreciation) | **Unrealized** <br>**Appreciation** <br>(Depreciation)  |
| **Contracts to Buy:**<br>|  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; British Pound | 1246277<br> &nbsp;&nbsp;&nbsp;&nbsp; BBH | $1679555 | 3/12/26 | $— | $(8117) | $(8117)  |
| **Contracts to Sell:**<br>|  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; British Pound | 1511693<br> &nbsp;&nbsp;&nbsp;&nbsp; BBH | 2037245 | 3/12/26 | 27575 |  | 27575  |
| &nbsp;&nbsp;&nbsp; British Pound | 25858953<br> &nbsp;&nbsp;&nbsp;&nbsp; BBH | 34849026 | 3/12/26 | 555268 |  | 555268  |
| &nbsp;&nbsp;&nbsp; British Pound | 289107<br> &nbsp;&nbsp;&nbsp;&nbsp; BBH | 389617 | 3/12/26 | 2911 |  | 2911  |
| &nbsp;&nbsp;&nbsp; British Pound | 120850<br> &nbsp;&nbsp;&nbsp;&nbsp; BBH | 162867 | 3/16/26 | 1320 |  | 1320  |
| &nbsp;&nbsp;&nbsp; British Pound | 820000<br> &nbsp;&nbsp;&nbsp;&nbsp; BBH | 1105099 | 3/16/26 | 28405 |  | 28405  |
| &nbsp;&nbsp;&nbsp; British Pound | 3615000<br> &nbsp;&nbsp;&nbsp;&nbsp; BBH | 4871869 | 3/16/26 | 97588 |  | 97588  |
| &nbsp;&nbsp;&nbsp; Canadian Dollar | 40400<br> &nbsp;&nbsp;&nbsp;&nbsp; BBH | 29629 | 3/16/26 |  | (469) | (469)  |
| &nbsp;&nbsp;&nbsp; Canadian Dollar | 37000<br> &nbsp;&nbsp;&nbsp;&nbsp; BBH | 27135 | 3/16/26 | 45 |  | 45  |
| &nbsp;&nbsp;&nbsp; Euro | 39757973<br> &nbsp;&nbsp;&nbsp;&nbsp; BBH | 46999407 | 3/12/26 | 439131 |  | 439131  |
| &nbsp;&nbsp;&nbsp; Euro | 192985<br> &nbsp;&nbsp;&nbsp;&nbsp; BBH | 228135 | 3/12/26 | 1122 |  | 1122  |
| &nbsp;&nbsp;&nbsp; Euro | 1534095<br> &nbsp;&nbsp;&nbsp;&nbsp; BBH | 1813512 | 3/12/26 | 10842 |  | 10842  |
| &nbsp;&nbsp;&nbsp; Euro | 14960000<br> &nbsp;&nbsp;&nbsp;&nbsp; BBH | 17688902 | 3/16/26 |  | (199810) | (199810)  |
| &nbsp;&nbsp;&nbsp; Norwegian Krone | 33025000<br> &nbsp;&nbsp;&nbsp;&nbsp; BBH | 3472655 | 3/16/26 |  | (196376) | (196376)  |
| &nbsp;&nbsp;&nbsp; Swedish Krona | 2515000<br> &nbsp;&nbsp;&nbsp;&nbsp; BBH | 278789 | 3/16/26 |  | (1568) | (1568)  |
| &nbsp;&nbsp;&nbsp; Swedish Krona | 16325000<br> &nbsp;&nbsp;&nbsp;&nbsp; BBH | 1809635 | 3/16/26 |  | (30757) | (30757)  |
| &nbsp;&nbsp;&nbsp; Swedish Krona | 7855000<br> &nbsp;&nbsp;&nbsp;&nbsp; BBH | 870731 | 3/16/26 |  | (18446) | (18446)  |
| &nbsp;&nbsp;&nbsp; Swedish Krona | 815000<br> &nbsp;&nbsp;&nbsp;&nbsp; BBH | 90343 | 3/16/26 |  | (279) | (279)  |
|  |  |  |  | $1164207 | $(447705) | $716502  |
| Net Unrealized Appreciation on Open Forward Foreign Currency Contracts | Net Unrealized Appreciation on Open Forward Foreign Currency Contracts | Net Unrealized Appreciation on Open Forward Foreign Currency Contracts | Net Unrealized Appreciation on Open Forward Foreign Currency Contracts | $1164207 | $(455822) | $708385  |

---

<u>Currency Abbreviations used in this schedule:</u>

EUR — Euro

GBP — British Pound

NOK — Norwegian Krone

SEK — Swedish Krona

<u>Counterparty Abbreviations used in this schedule:</u>

BBH — Brown Brothers Harriman & Co.

BNP — BNP Paribas SA

See Notes to Financial Statements.

245<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Global Fixed Income Opportunities Fund(concluded)** 

---

| | | |
|:---|:---|:---|
| **Face Amount** | **Security** | **Value**  |
| **SECURITIES SOLD SHORT – 0.7%**  | **SECURITIES SOLD SHORT – 0.7%**  | **SECURITIES SOLD SHORT – 0.7%**  |
| **CORPORATE BOND & NOTES – 0.5%**  | **CORPORATE BOND & NOTES – 0.5%**  | **CORPORATE BOND & NOTES – 0.5%**  |
| **Basic Materials – 0.1%**  | **Basic Materials – 0.1%**  | **Basic Materials – 0.1%**  |
| $583000 | Champion Iron Canada Inc., Company Guaranteed Notes, 7.875% due 7/15/32<sup>(a)</sup> | $620071  |
| **Communications – 0.1%**  | **Communications – 0.1%**  | **Communications – 0.1%**  |
| 1000000 | Arches Buyer Inc., Senior Unsecured Notes, 6.125% due 12/1/28<sup>(a)</sup>  | 943765  |
| **Consumer Non-cyclical – 0.3%** | **Consumer Non-cyclical – 0.3%** | **Consumer Non-cyclical – 0.3%** |
|  | General Mills Inc., Senior Unsecured Notes:<br>|  |
| 304000 | &nbsp;&nbsp;&nbsp; 4.875% due 1/30/30  | 311875  |
| 304000 | &nbsp;&nbsp;&nbsp; 4.950% due 3/29/33  | 310854  |
| 1519000 | PepsiCo Inc., Senior Unsecured Notes, 5.000% due 2/7/35  | 1573125  |
|  | Total Consumer Non-cyclical | 2195854  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL CORPORATE BONDS & NOTES**<br>**(Proceeds – $3,685,754)** | **3759690**  |
| **Shares/Units**<br>|  |  |
| **EXCHANGE TRADED FUND (ETF) – 0.2%**  | **EXCHANGE TRADED FUND (ETF) – 0.2%**  | **EXCHANGE TRADED FUND (ETF) – 0.2%**  |
| 14610 | &nbsp;&nbsp;&nbsp; iShares iBoxx $ High Yield Corporate Bond <br>(Proceeds – $1,168,474) | 1179319  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL SECURITIES SOLD SHORT – 0.7%**<br>**(Proceeds – $4,854,228)** | **$4939009** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Restricted security that may be repurchased
 from "qualified institutional buyers" pursuant to the conditions of Rule 144Aunder 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 February 28, 2026, amounts to $1,563,836 and represents 0.22% of net assets.

See Notes to Financial Statements.

246<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Municipal Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face Amount/Units** | **Rating††** | **Security** | **Value**  |
| **MUNICIPAL BONDS – 90.0%**  | **MUNICIPAL BONDS – 90.0%**  | **MUNICIPAL BONDS – 90.0%**  | **MUNICIPAL BONDS – 90.0%**  |
| **Alabama – 1.7%**  | **Alabama – 1.7%**  | **Alabama – 1.7%**  | **Alabama – 1.7%**  |
| $550000 | AA | City of Gadsden AL, GO, Series A, 5.000% due 10/1/35 | $652614  |
| 1500000 | AA+ | County of Jefferson AL, Revenue Bonds, 5.000% due 9/15/35 | 1535538  |
| 1500000 | BB+ | Hoover Industrial Development Board, Revenue Bonds, 5.750% due 10/1/49<sup>(a)</sup>  | 1521283  |
| 1500000 | BBB | &nbsp;&nbsp;&nbsp; Mobile County Industrial Development Authority, Revenue Bonds, <br>Series A, 5.000% due 6/1/54<sup>(a)</sup> | 1486279  |
|  |  | Southeast Energy Authority A Cooperative District, Revenue Bonds: <br>|  |
| 3050000 | Aa3<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; Series E, 5.000% due 10/1/30 | 3323955  |
| 1000000 | A1<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; Series H, 5.000% due 11/1/35 | 1097708  |
| 1000000 | NR | Tuscaloosa County Industrial Development Authority, Revenue Bonds, Series A, 5.250% due 5/1/44<sup>(c)</sup> | 1013030  |
|  |  | Total Alabama | 10630407  |
| **Arizona – 1.9%**  | **Arizona – 1.9%**  | **Arizona – 1.9%**  | **Arizona – 1.9%**  |
| 1695000 | BB- | Arizona Industrial Development Authority, Revenue Bonds, 5.000% due 7/1/49<sup>(c)</sup> | 1535052  |
| 2000000 | AAA | City of Phoenix Civic Improvement Corp., Revenue Bonds, Series B, 4.000% due 7/1/29 | 2004873  |
|  |  | Maricopa County Industrial Development Authority, Revenue Bonds: <br>|  |
| 1000000 | NR | &nbsp;&nbsp;&nbsp; Series A, 6.250% due 7/1/44<sup>(c)</sup> | 1039905  |
| 1000000 | A2<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; Series D, 5.000% due 12/1/41 | 1110627  |
| 800000 | AA- | &nbsp;&nbsp;&nbsp; Series D, 5.000% due 1/1/46<sup>(d)</sup> | 804355  |
| 1350000 | Aa3<sup>(b)</sup> | Maricopa County Special Health Care District, GO, Series D, 4.000% due 7/1/35 | 1425732  |
| 2500000 | AA+ | Salt River Project Agricultural Improvement & Power District, Revenue Bonds, Series C, 5.000% due 1/1/51 | 2654158  |
|  |  | Sierra Vista Industrial Development Authority, Revenue Bonds: <br>|  |
| 1000000 | NR | &nbsp;&nbsp;&nbsp; 5.000% due 6/15/64<sup>(c)</sup> | 851388  |
| 1000000 | NR | &nbsp;&nbsp;&nbsp; 5.750% due 6/15/58<sup>(c)</sup> | 975012  |
|  |  | Total Arizona | 12401102  |
| **Arkansas – 0.4%**  | **Arkansas – 0.4%**  | **Arkansas – 0.4%**  | **Arkansas – 0.4%**  |
| 1150000 | BB+ | Arkansas Development Finance Authority, Revenue Bonds, 5.700% due 5/1/53<sup>(a)</sup> | 1175377  |
| 1000000 | NR | City of Osceola AR, Revenue Bonds, 5.500% due 4/1/36<sup>(a)(d)</sup> | 1004779  |
| 500000 | NR | Clarksville Public Educational Facilities Board, Revenue Bonds, Series B, 6.250% due 8/1/49 | 515858  |
|  |  | Total Arkansas | 2696014  |
| **California – 3.7%**  | **California – 3.7%**  | **California – 3.7%**  | **California – 3.7%**  |
| 1000000 | Aa1<sup>(b)</sup> | California Community Choice Financing Authority, Revenue Bonds, Series G, 5.000% due 12/1/35 | 1126164  |
| 1000000 | NR | California Community Housing Agency, Revenue Bonds, Series A2, 4.000% due 2/1/50<sup>(c)</sup> | 754636  |
| 1000000 | BBB+ | California Health Facilities Financing Authority, Revenue Bonds, Series A, 5.000% due 12/1/32 | 1127482  |
| 940000 | NR | California Infrastructure & Economic Development Bank, Revenue Bonds, Series B, 12.000% due 1/1/65<sup>(a)(c)(d)</sup> | 507600  |

---

See Notes to Financial Statements.

247<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Municipal Fixed Income Fund(continued)** 

---

| | | | |
|:---|:---|:---|:---|
| **Face Amount/Units** | **Rating††** | **Security** | **Value**  |
| **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  |
| **California – (continued)**  | **California – (continued)**  | **California – (continued)**  | **California – (continued)**  |
| $300000 | BB | California Municipal Finance Authority, Revenue Bonds, 6.375% due 6/15/64<sup>(c)</sup>. | $316983  |
|  |  | California Public Finance Authority, Revenue Bonds: <br>|  |
| 1000000 | NR | &nbsp;&nbsp;&nbsp; Series A, 6.375% due 6/1/59<sup>(c)</sup> | 948655  |
| 990000 | NR | &nbsp;&nbsp;&nbsp; Series A1, 6.750% due 7/1/65<sup>(c)</sup> | 1066992  |
|  |  | California Statewide Communities Development Authority, Revenue Bonds: <br>|  |
| 2525000 | BB+ | &nbsp;&nbsp;&nbsp; 5.500% due 12/1/54 | 2528499  |
| 1000000 | BB+ | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 12/1/46<sup>(c)</sup> | 1000747  |
| 1105000 | NR | CMFA Special Finance Agency VII, Revenue Bonds, Series A1, 3.000% due 8/1/56<sup>(c)</sup> | 778694  |
| 1000000 | NR | CMFA Special Finance Agency, Revenue Bonds, Series A, 4.000% due 12/1/45<sup>(c)</sup> | 777307  |
|  |  | CSCDA Community Improvement Authority, Revenue Bonds: <br>|  |
| 1500000 | NR | &nbsp;&nbsp;&nbsp; 3.000% due 6/1/47<sup>(c)</sup> | 1087073  |
| 1000000 | NR | &nbsp;&nbsp;&nbsp; 3.000% due 12/1/56<sup>(c)</sup> | 706997  |
| 1000000 | NR | Fairfield Community Facilities District, Special Tax, Series A, 5.000% due 9/1/54 | 1010902  |
| 1260000 | A | Los Angeles Department of Water & Power, Revenue Bonds, Series B, 5.000% due 7/1/34 | 1342437  |
| 2000000 | WD<sup>(e)</sup> | Silicon Valley Tobacco Securitization Authority, Revenue Bonds, Series A, zero coupon, due 6/1/41 | 760867  |
| 1345000 | Aa2<sup>(b)</sup> | Southern California Public Power Authority, Revenue Bonds, Series 2, 5.000% due 7/1/53<sup>(d)</sup> | 1429777  |
|  |  | State of California, GO: <br>|  |
| 760000 | AA- | &nbsp;&nbsp;&nbsp; 4.000% due 3/1/26 | 760000  |
| 2250000 | AA- | &nbsp;&nbsp;&nbsp; 5.000% due 9/1/26 | 2283507  |
| 435000 | AA- | &nbsp;&nbsp;&nbsp; Series B, 5.000% due 8/1/26 | 440378  |
| 205000 | AA- | &nbsp;&nbsp;&nbsp; Series C, 5.000% due 8/1/29 | 207545  |
| 2000000 | AA | University of California, Revenue Bonds, Series CA, 5.000% due 5/15/39 | 2331522  |
|  |  | Total California | 23294764  |
| **Colorado – 2.8%**  | **Colorado – 2.8%**  | **Colorado – 2.8%**  | **Colorado – 2.8%**  |
| 1000000 | AA | Board of Governors of Colorado State University System, Revenue Bonds, Series A, 5.000% due 3/1/43 | 1174528  |
|  |  | Boulder Larimer & Weld Counties St Vrain Valley School District Re1J, GO: <br>|  |
| 650000 | AA+ | &nbsp;&nbsp;&nbsp; 5.000% due 12/15/29 | 719267  |
| 775000 | AA+ | &nbsp;&nbsp;&nbsp; 5.000% due 12/15/38 | 897471  |
|  |  | City & County of Denver CO Airport System Revenue, Revenue Bonds: <br>|  |
| 315000 | A+ | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 12/1/26<sup>(a)</sup> | 320856  |
| 195000 | AA- | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 11/15/28<sup>(a)</sup> | 202946  |
| 455000 | AA- | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 11/15/29<sup>(a)</sup> | 473482  |
| 115000 | AA- | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 11/15/30<sup>(a)</sup> | 119597  |
| 1000000 | A+ | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 12/1/37<sup>(a)</sup> | 1051715  |
| 3400000 | AA- | &nbsp;&nbsp;&nbsp; Series D, 5.500% due 11/15/30<sup>(a)</sup> | 3858992  |

---

See Notes to Financial Statements.

248<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Municipal Fixed Income Fund(continued)** 

---

| | | | |
|:---|:---|:---|:---|
| **Face Amount/Units** | **Rating††** | **Security** | **Value**  |
| **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  |
| **Colorado – (continued)**  | **Colorado – (continued)**  | **Colorado – (continued)**  | **Colorado – (continued)**  |
|  |  | Colorado Bridge & Tunnel Enterprise, Revenue Bonds, AGM-Insured: <br>|  |
| $500000 | AA | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 12/1/41 | $564923  |
| 1200000 | AA | &nbsp;&nbsp;&nbsp; Series A, 5.250% due 12/1/54 | 1277692  |
| 1000000 | AA | &nbsp;&nbsp;&nbsp; Series A, 5.500% due 12/1/54 | 1080410  |
| 600000 | BB | Colorado Educational & Cultural Facilities Authority, Revenue Bonds, 5.800% due 4/1/54<sup>(c)</sup> | 602058  |
|  |  | Colorado Health Facilities Authority, Revenue Bonds: <br>|  |
| 2910000 | A- | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 8/1/44 | 2991928  |
| 60000 | NR | &nbsp;&nbsp;&nbsp; Series Prerefunded 11/19/26 @ 100, 5.000% due 11/15/49<sup>(d)(f)</sup> | 61193  |
| 500000 | NR | Legacy Community Authority, Revenue Bonds, Series A, 6.750% due 12/1/55 | 510405  |
| 1750000 | NR | Village Metropolitan District, GO, 5.000% due 12/1/49 | 1695537  |
|  |  | Total Colorado | 17603000  |
| **Connecticut – 0.9%**  | **Connecticut – 0.9%**  | **Connecticut – 0.9%**  | **Connecticut – 0.9%**  |
| 1500000 | AAA | &nbsp;&nbsp;&nbsp; Connecticut State Health & Educational Facilities Authority, Revenue Bonds, <br>Series B2, 5.000% due 7/1/64<sup>(d)</sup> | 1725319  |
| 1000000 | AA | State of Connecticut Special Tax Revenue, Revenue Bonds, Series A, 5.000% due 7/1/44 | 1116981  |
|  |  | State of Connecticut, GO: <br>|  |
| 375000 | AA- | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 4/15/26 | 376283  |
| 150000 | AA- | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 4/15/30 | 162829  |
| 170000 | AA- | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 4/15/34 | 182971  |
| 1150000 | AA- | &nbsp;&nbsp;&nbsp; Series D, 5.000% due 8/15/30 | 1287628  |
| 100000 | AA- | &nbsp;&nbsp;&nbsp; Series E, 5.000% due 10/15/26 | 101796  |
| 150000 | AA- | &nbsp;&nbsp;&nbsp; Series E, 5.000% due 10/15/29 | 152545  |
| 330000 | AA- | University of Connecticut, Revenue Bonds, Series A, 5.000% due 11/1/27 | 345422  |
|  |  | Total Connecticut | 5451774  |
| **District of Columbia – 1.0%**  | **District of Columbia – 1.0%**  | **District of Columbia – 1.0%**  | **District of Columbia – 1.0%**  |
|  |  | Metropolitan Washington Airports Authority Aviation Revenue, Revenue Bonds: <br>|  |
| 1820000 | AA- | &nbsp;&nbsp;&nbsp; 5.000% due 10/1/36<sup>(a)</sup> | 1873521  |
| 2000000 | AA- | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 10/1/35<sup>(a)</sup> | 2272741  |
|  |  | Washington Metropolitan Area Transit Authority Dedicated Revenue, Revenue Bonds: <br>|  |
| 1000000 | AA | &nbsp;&nbsp;&nbsp; 5.000% due 7/15/37 | 1134944  |
| 1000000 | AA | &nbsp;&nbsp;&nbsp; 5.000% due 7/15/38 | 1126906  |
|  |  | Total District of Columbia | 6408112  |
| **Florida – 5.2%**  | **Florida – 5.2%**  | **Florida – 5.2%**  | **Florida – 5.2%**  |
| 985000 | NR | Cabot Citrus Farms Community Development District, Special Assessment, 5.250% due 3/1/29 | 999459  |
|  |  | Capital Trust Agency Inc., Revenue Bonds: <br>|  |
| 500000 | BB | &nbsp;&nbsp;&nbsp; 6.375% due 5/1/53<sup>(c)</sup> | 518468  |
| 250000 | NR | &nbsp;&nbsp;&nbsp; Series A, 4.000% due 6/15/29<sup>(c)</sup> | 248928  |
| 1000000 | NR | &nbsp;&nbsp;&nbsp; Series A1, 5.000% due 7/1/56<sup>(c)</sup> | 887144  |

---

See Notes to Financial Statements.

249<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Municipal Fixed Income Fund(continued)** 

---

| | | | |
|:---|:---|:---|:---|
| **Face Amount/Units** | **Rating††** | **Security** | **Value**  |
| **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  |
| **Florida – (continued)**  | **Florida – (continued)**  | **Florida – (continued)**  | **Florida – (continued)**  |
| $1200000 | BB | Capital Trust Authority, Revenue Bonds, Series A, 5.250% due 7/1/55<sup>(c)</sup> | $1171118  |
| 1000000 | AA- | Central Florida Expressway Authority, Revenue Bonds, Series B, 4.000% due 7/1/36 | 1003019  |
| 2535000 | AA | City of Jacksonville FL, Revenue Bonds, 5.000% due 10/1/37 | 2980476  |
| 1500000 | AA- | City Of South Miami Health Facilities Authority Inc., Revenue Bonds, 5.000% due 8/15/42 | 1533625  |
| 1000000 | A+ | County of Broward FL Airport System Revenue, Revenue Bonds, Series B, 5.000% due 10/1/29<sup>(a)</sup> | 1082829  |
| 500000 | A2<sup>(b)</sup> | County of Lee FL Airport Revenue, Revenue Bonds, Series A1, 5.250% due 10/1/43<sup>(a)</sup> | 555059  |
|  |  | County of Miami-Dade FL Water & Sewer System Revenue, Revenue Bonds: <br>|  |
| 4335000 | AA | &nbsp;&nbsp;&nbsp; Series B, 4.000% due 10/1/38 | 4386649  |
| 3500000 | AA | &nbsp;&nbsp;&nbsp; Series B, 5.000% due 10/1/44 | 3686809  |
| 600000 | NR | Florida Development Finance Corp., Revenue Bonds, Series A, 6.750% due 6/15/53<sup>(c)</sup> | 634911  |
|  |  | Florida Higher Educational Facilities Financing Authority, Revenue Bonds: <br>|  |
| 1600000 | NR | &nbsp;&nbsp;&nbsp; 5.000% due 6/1/48<sup>(c)</sup> | 1444597  |
| 1000000 | BB+ | &nbsp;&nbsp;&nbsp; 6.250% due 7/1/55<sup>(c)</sup> | 1017172  |
|  |  | Hillsborough County Port District, Revenue Bonds: <br>|  |
| 850000 | A+<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; Series B, 5.000% due 6/1/33<sup>(a)</sup> | 896121  |
| 185000 | A+<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; Series B, 5.000% due 6/1/38<sup>(a)</sup> | 193256  |
| 750000 | NR | Hobe-St Lucie Conservancy District, Special Assessment, 5.875% due 5/1/55 | 769349  |
| 500000 | NR | Lakewood Ranch Stewardship District, Special Assessment, 6.300% due 5/1/54 | 527784  |
|  |  | Lee County Industrial Development Authority, Revenue Bonds: <br>|  |
| 580000 | A+ | &nbsp;&nbsp;&nbsp; Series 2019A1, 5.000% due 4/1/33 | 617809  |
| 515000 | A+ | &nbsp;&nbsp;&nbsp; Series 2019A1, 5.000% due 4/1/35 | 544585  |
| 755000 | A+ | &nbsp;&nbsp;&nbsp; Series 2019A2, 5.000% due 4/1/33<sup>(d)</sup> | 755170  |
|  |  | Marion County School Board, COP, AGM-Insured: <br>|  |
| 1950000 | AA | &nbsp;&nbsp;&nbsp; 5.000% due 6/1/31 | 2200347  |
| 2000000 | AA | &nbsp;&nbsp;&nbsp; 5.000% due 6/1/37 | 2292927  |
|  |  | School Board of Miami-Dade County, COP: <br>|  |
| 570000 | A+ | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 5/1/31 | 572431  |
| 220000 | A+ | &nbsp;&nbsp;&nbsp; Series B, 5.000% due 8/1/27 | 222467  |
| 115000 | A+ | &nbsp;&nbsp;&nbsp; Series D, 5.000% due 2/1/29 | 115243  |
| 190000 | A+ | &nbsp;&nbsp;&nbsp; Series D, 5.000% due 2/1/30 | 190399  |
| 985000 | NR | Village Community Development District No 12, Special Assessment, 4.250% due 5/1/43 | 985416  |
|  |  | Total Florida | 33033567  |
| **Georgia – 2.2%**  | **Georgia – 2.2%**  | **Georgia – 2.2%**  | **Georgia – 2.2%**  |
|  |  | City of Atlanta GA Water & Wastewater Revenue, Revenue Bonds: <br>|  |
| 30000 | AA- | &nbsp;&nbsp;&nbsp; 5.000% due 11/1/27 | 30200  |
| 70000 | AA- | &nbsp;&nbsp;&nbsp; 5.000% due 11/1/29 | 70466  |

---

See Notes to Financial Statements.

250<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Municipal Fixed Income Fund(continued)** 

---

| | | | |
|:---|:---|:---|:---|
| **Face Amount/Units** | **Rating††** | **Security** | **Value**  |
| **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  |
| **Georgia – (continued)**  | **Georgia – (continued)**  | **Georgia – (continued)**  | **Georgia – (continued)**  |
| $2000000 | AA- | &nbsp;&nbsp;&nbsp; 5.000% due 11/1/40 | $2006162  |
| 335000 | BBB<sup>(e)</sup> | Fayette County Development Authority, Revenue Bonds, 5.000% due 10/1/30 | 364081  |
| 5040000 | AAA | Forsyth County School District, GO, 5.000% due 2/1/28 | 5319167  |
| 1500000 | Aa1<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; Main Street Natural Gas Inc., Revenue Bonds, Series C, 5.000% due <br>9/1/53<sup>(d)</sup> | 1619393  |
| 4000000 | AAA | Metropolitan Atlanta Rapid Transit Authority, Revenue Bonds, Series B, 5.000% due 7/1/33 | 4726557  |
|  |  | Total Georgia | 14136026  |
| **Hawaii – 0.8%**  | **Hawaii – 0.8%**  | **Hawaii – 0.8%**  | **Hawaii – 0.8%**  |
| 5000000 | Aa2<sup>(b)</sup> | City & County of Honolulu HI, GO, Series C, 4.000% due 10/1/32 | 5037282  |
| **Idaho – 0.4%**  | **Idaho – 0.4%**  | **Idaho – 0.4%**  | **Idaho – 0.4%**  |
| 1500000 | NR | Idaho Falls Auditorium District, COP, 5.250% due 5/15/51<sup>(c)</sup> | 1477041  |
| 1000000 | NR | Idaho Health Facilities Authority, Revenue Bonds, 7.125% due 11/1/57 | 1067646  |
|  |  | Total Idaho | 2544687  |
| **Illinois – 5.1%**  | **Illinois – 5.1%**  | **Illinois – 5.1%**  | **Illinois – 5.1%**  |
|  |  | Chicago Board of Education, GO: <br>|  |
| 1180000 | BB+ | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 12/1/47 | 1108408  |
| 1500000 | BB+ | &nbsp;&nbsp;&nbsp; Series A, 5.750% due 12/1/50 | 1535502  |
|  |  | Chicago O'Hare International Airport, Revenue Bonds: <br>|  |
| 3025000 | A+ | &nbsp;&nbsp;&nbsp; Series D, 5.000% due 1/1/39 | 3503709  |
| 1000000 | A+ | &nbsp;&nbsp;&nbsp; Series D, 5.250% due 1/1/42 | 1015526  |
| 1000000 | AA | City of Aurora IL, GO, Series C, 5.000% due 12/30/42 | 1088256  |
| 1100000 | BBB | City of Chicago IL, GO, Series E, 6.000% due 1/1/42 | 1238998  |
|  |  | County of Cook IL Sales Tax Revenue, Revenue Bonds: <br>|  |
| 980000 | AA- | &nbsp;&nbsp;&nbsp; 5.000% due 11/15/41 | 1068677  |
| 980000 | AA- | &nbsp;&nbsp;&nbsp; 5.000% due 11/15/42 | 1058410  |
| 675000 | AA+ | DuPage & Cook Counties Community Unit School District No 205 Elmhurst, GO, Series B, 5.000% due 1/1/28 | 706784  |
| 5000 | NR | Grundy & Will Counties Community Unit School District No 1 Coal City, GO, Series Prerefunded 2/1/27 @ 100, 5.000% due 2/1/29<sup>(f)</sup> | 5123  |
|  |  | Illinois Finance Authority, Revenue Bonds: <br>|  |
| 1000000 | A | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 11/15/45 | 1001705  |
| 870000 | AA- | &nbsp;&nbsp;&nbsp; Series A, Prerefunded 1/1/28 @ 100, 5.000% due 1/1/38<sup>(f)</sup> | 914153  |
| 1300000 | AA- | &nbsp;&nbsp;&nbsp; Series A, Prerefunded 1/1/28 @ 100, 5.000% due 1/1/44<sup>(f)</sup> | 1365976  |
| 255000 | Aa3<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; Series A, Prerefunded 7/1/26 @ 100, 5.000% due 7/1/36<sup>(f)</sup> | 257352  |
| 95000 | WD<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; Series A, Prerefunded 8/15/26 @ 100, 5.000% due 8/15/33<sup>(f)</sup> | 96196  |
| 20000 | NR | &nbsp;&nbsp;&nbsp; Series C, Prerefunded 2/15/27 @ 100, 4.000% due 2/15/41<sup>(f)</sup> | 20344  |
| 170000 | AA- | &nbsp;&nbsp;&nbsp; Series Prerefunded 1/1/27 @ 100, 5.000% due 1/1/36<sup>(f)</sup> | 173939  |
|  |  | Illinois State Toll Highway Authority, Revenue Bonds: <br>|  |
| 1535000 | AA- | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 1/1/42 | 1584553  |
| 1500000 | AA- | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 1/1/45 | 1571789  |
| 2000000 | AA- | &nbsp;&nbsp;&nbsp; Series B, 5.000% due 1/1/40 | 2004956  |

---

See Notes to Financial Statements.

251<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Municipal Fixed Income Fund(continued)** 

---

| | | | |
|:---|:---|:---|:---|
| **Face Amount/Units** | **Rating††** | **Security** | **Value**  |
| **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  |
| **Illinois – (continued)**  | **Illinois – (continued)**  | **Illinois – (continued)**  | **Illinois – (continued)**  |
| $2880000 | A | State of Illinois Sales Tax Revenue, Revenue Bonds, Series A, 5.000% due 6/15/28 | $3050576  |
|  |  | State of Illinois, GO: <br>|  |
| 195000 | A- | &nbsp;&nbsp;&nbsp; 5.000% due 2/1/27 | 199625  |
| 180000 | A- | &nbsp;&nbsp;&nbsp; 5.000% due 2/1/28 | 184241  |
| 1825000 | A- | &nbsp;&nbsp;&nbsp; Series B, 4.000% due 11/1/36 | 1849362  |
| 2980000 | A- | &nbsp;&nbsp;&nbsp; Series B, 5.000% due 5/1/32 | 3377461  |
| 390000 | A- | &nbsp;&nbsp;&nbsp; Series D, 5.000% due 11/1/26 | 396733  |
| 1500000 | A- | &nbsp;&nbsp;&nbsp; Series D, 5.000% due 7/1/32 | 1703383  |
| 165000 | AA | Will County Community Unit School District No 365-U Valley View, GO, Series B, AGM-Insured, zero coupon, due 11/1/26 | 162418  |
|  |  | Total Illinois | 32244155  |
| **Indiana – 2.0%**  | **Indiana – 2.0%**  | **Indiana – 2.0%**  | **Indiana – 2.0%**  |
| 3750000 | AA | Carmel Redevelopment Authority, Revenue Bonds, Series B, 5.000% due 7/15/35 | 4220241  |
|  |  | Indianapolis Local Public Improvement Bond Bank, Revenue Bonds: <br>|  |
| 550000 | A1<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 5.000% due 1/1/35<sup>(a)</sup> | 609570  |
| 550000 | A1<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 5.250% due 1/1/36<sup>(a)</sup> | 613373  |
| 600000 | A1<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 5.250% due 1/1/37<sup>(a)</sup> | 663945  |
| 1250000 | A1<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 5.250% due 1/1/38<sup>(a)</sup> | 1375375  |
| 1895000 | Aa1<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; Series 202, 6.000% due 1/15/41 | 2185881  |
| 2115000 | AA+ | Peru Multi-School Building Corp., Revenue Bonds, 5.000% due 7/15/43 | 2307361  |
| 580000 | AA | Warrick County Industrial Building Corp., Revenue Bonds, 5.000% due 8/1/32 | 654015  |
|  |  | Total Indiana | 12629761  |
| **Iowa – 1.3%**  | **Iowa – 1.3%**  | **Iowa – 1.3%**  | **Iowa – 1.3%**  |
| 1000000 | Aa1<sup>(b)</sup> | City of Cedar Rapids IA, GO, Series A, 5.000% due 6/1/40 | 1090339  |
| 1000000 | AAA | County of Polk IA, GO, Series A, 5.000% due 6/1/38<sup>(a)</sup> | 1099452  |
| 1000000 | BBB+ | Iowa Finance Authority, Revenue Bonds, 4.750% due 8/1/42 | 1000337  |
| 5000000 | A3<sup>(b)</sup> | PEFA Inc., Revenue Bonds, 5.000% due 9/1/49<sup>(d)</sup> | 5057907  |
|  |  | Total Iowa | 8248035  |
| **Kansas – 0.2%**  | **Kansas – 0.2%**  | **Kansas – 0.2%**  | **Kansas – 0.2%**  |
| 1000000 | NR | City of Colby KS, Revenue Bonds, 5.500% due 7/1/26 | 997970  |
| 250000 | NR | City of Garden City KS, Revenue Bonds, 5.375% due 6/1/39<sup>(c)</sup> | 255803  |
| 20000 | SP-1+ | City of Maize KS, GO, Series B, 4.000% due 10/1/26 | 20005  |
|  |  | Total Kansas | 1273778  |
| **Kentucky – 1.1%**  | **Kentucky – 1.1%**  | **Kentucky – 1.1%**  | **Kentucky – 1.1%**  |
| 2200000 | AA- | Fayette County School District Finance Corp., Revenue Bonds, 5.000% due 6/1/43 | 2334350  |
| 500000 | Baa2<sup>(b)</sup> | Kentucky Public Energy Authority, Revenue Bonds, Series B, 5.000% due 12/1/33 | 532790  |
| 160000 | A | &nbsp;&nbsp;&nbsp; Kentucky State Property & Building Commission, Revenue Bonds: <br>5.000% due 4/1/27 | 164901  |

---

See Notes to Financial Statements.

252<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Municipal Fixed Income Fund(continued)** 

---

| | | | |
|:---|:---|:---|:---|
| **Face Amount/Units** | **Rating††** | **Security** | **Value**  |
| **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  |
| **Kentucky – (continued)**  | **Kentucky – (continued)**  | **Kentucky – (continued)**  | **Kentucky – (continued)**  |
| $145000 | A | &nbsp;&nbsp;&nbsp; 5.000% due 5/1/28 | $153613  |
| 1795000 | A | &nbsp;&nbsp;&nbsp; Series B, 5.000% due 11/1/26 | 1828712  |
| 2000000 | AA | Louisville & Jefferson County Metropolitan Sewer District, Revenue Bonds, Series A, 3.000% due 5/15/44 | 1683954  |
|  |  | Total Kentucky | 6698320  |
| **Louisiana – 3.1%**  | **Louisiana – 3.1%**  | **Louisiana – 3.1%**  | **Louisiana – 3.1%**  |
| 2505000 | AA | City of Lafayette LA Utilities Revenue, Revenue Bonds, AGM-Insured, 5.000% due 11/1/42 | 2745335  |
|  |  | Louisiana Local Government Environmental Facilities & Community Development Authority, Revenue Bonds: <br>|  |
| 1500000 | AA | &nbsp;&nbsp;&nbsp; 5.000% due 10/1/26 | 1523850  |
| 2800000 | A1<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 5.000% due 8/15/37 | 2861862  |
| 1000000 | NR | &nbsp;&nbsp;&nbsp; Louisiana Public Facilities Authority, Revenue Bonds, 6.000% due <br>6/15/59<sup>(c)</sup>  | 1012002  |
| 1000000 | A2<sup>(b)</sup> | St John the Baptist Parish School District No 1, GO, 5.250% due 3/1/37 | 1132169  |
|  |  | State of Louisiana, GO: <br>|  |
| 3350000 | AA | &nbsp;&nbsp;&nbsp; Series E, 5.000% due 9/1/31 | 3827050  |
| 4835000 | AA | &nbsp;&nbsp;&nbsp; Series E, 5.000% due 9/1/33 | 5687726  |
| 1165000 | A | Terrebonne Parish Hospital Service District No 1, Revenue Bonds, 5.000% due 4/1/45 | 1238481  |
|  |  | Total Louisiana | 20028475  |
| **Maine – 0.4%**  | **Maine – 0.4%**  | **Maine – 0.4%**  | **Maine – 0.4%**  |
| 2500000 | AA+ | Maine State Housing Authority, Revenue Bonds, Series B, 3.150% due 11/15/39 | 2360841  |
| **Maryland – 1.6%**  | **Maryland – 1.6%**  | **Maryland – 1.6%**  | **Maryland – 1.6%**  |
| 4000000 | AAA | County of Prince George's MD, GO, Series A, 5.000% due 7/15/29 | 4271169  |
|  |  | Maryland Community Development Administration, Revenue Bonds: <br>|  |
| 95000 | Aa1<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; Series B, 4.000% due 9/1/49 | 96907  |
| 95000 | Aa1<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; Series C, 3.500% due 3/1/50 | 95226  |
| 2000000 | NR | Maryland Economic Development Corp., Special Tax, 4.000% due 9/1/50 | 1692113  |
| 1000000 | A | Maryland Health & Higher Educational Facilities Authority, Revenue Bonds, Series B, 5.000% due 8/15/56<sup>(d)</sup> | 1155681  |
| 3000000 | AAA | State of Maryland Department of Transportation, Revenue Bonds, 3.500% due 10/1/33 | 3009859  |
|  |  | Total Maryland | 10320955  |
| **Massachusetts – 2.3%**  | **Massachusetts – 2.3%**  | **Massachusetts – 2.3%**  | **Massachusetts – 2.3%**  |
|  |  | Commonwealth of Massachusetts, GO: <br>|  |
| 1250000 | AA+ | &nbsp;&nbsp;&nbsp; Series E, 5.000% due 8/1/41 | 1443075  |
| 1500000 | AA+ | &nbsp;&nbsp;&nbsp; Series E, 5.000% due 11/1/45 | 1614248  |
| 2665000 | AA+ | Massachusetts Bay Transportation Authority Sales Tax Revenue, Revenue Bonds, Series B, 5.000% due 7/1/38 | 3157582  |
|  |  | Massachusetts Development Finance Agency, Revenue Bonds: <br>|  |
| 1500000 | AA- | &nbsp;&nbsp;&nbsp; 4.000% due 4/1/41 | 1503823  |
| 1000000 | AA- | &nbsp;&nbsp;&nbsp; 5.000% due 7/1/35 | 1007933  |

---

See Notes to Financial Statements.

253<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Municipal Fixed Income Fund(continued)** 

---

| | | | |
|:---|:---|:---|:---|
| **Face Amount/Units** | **Rating††** | **Security** | **Value**  |
| **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  |
| **Massachusetts – (continued)**  | **Massachusetts – (continued)**  | **Massachusetts – (continued)**  | **Massachusetts – (continued)**  |
| $1290000 | AAA | &nbsp;&nbsp;&nbsp; Series A, 4.000% due 7/15/36 | $1291379  |
| 500000 | AA+ | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 11/1/55<sup>(d)</sup> | 604176  |
| 1000000 | AA+ | &nbsp;&nbsp;&nbsp; Series N, 5.000% due 7/1/42 | 1144653  |
| 500000 | AA | &nbsp;&nbsp;&nbsp; Massachusetts Port Authority, Revenue Bonds, Series E, 5.000% due <br>7/1/31<sup>(a)</sup>  | 557695  |
| 250000 | AA | Massachusetts School Building Authority, Revenue Bonds, Series B, 5.000% due 2/15/38 | 308533  |
| 1700000 | AA+ | Massachusetts Water Resources Authority, Revenue Bonds, AGM-Insured, Series B, 5.250% due 8/1/38 | 2154860  |
|  |  | Total Massachusetts | 14787957  |
| **Michigan – 1.5%**  | **Michigan – 1.5%**  | **Michigan – 1.5%**  | **Michigan – 1.5%**  |
| 160000 | AA | City of Detroit MI Sewage Disposal System Revenue, Revenue Bonds, Series D, AGM-Insured, 3.228% due 7/1/32<sup>(d)</sup> | 159854  |
| 500000 | AA | Lincoln Consolidated School District, GO, 5.000% due 5/1/29 | 539466  |
| 495000 | AA- | Michigan State Building Authority, Revenue Bonds, Series I, 5.000% due 10/15/34 | 502815  |
| 1000000 | A1<sup>(b)</sup> | Michigan State Hospital Finance Authority, Revenue Bonds, Series A, 5.000% due 5/15/35 | 1163399  |
| 4870000 | AA+ | Michigan State Housing Development Authority, Revenue Bonds, Series A, 3.700% due 4/1/30 | 4871796  |
| 1295000 | Aa1<sup>(b)</sup> | Thornapple Kellogg School District, GO, 5.000% due 5/1/43 | 1365176  |
| 700000 | A+ | Wayne County Airport Authority, Revenue Bonds, Series D, 5.000% due 12/1/32<sup>(a)</sup> | 791453  |
|  |  | Total Michigan | 9393959  |
| **Minnesota – 2.0%**  | **Minnesota – 2.0%**  | **Minnesota – 2.0%**  | **Minnesota – 2.0%**  |
|  |  | Metropolitan Council, GO: <br>|  |
| 2000000 | AAA | &nbsp;&nbsp;&nbsp; Series C, 5.000% due 12/1/27 | 2100505  |
| 2500000 | AAA | &nbsp;&nbsp;&nbsp; Series I, 3.000% due 3/1/27 | 2501187  |
| 5000000 | AAA | State of Minnesota, GO, Series A, 5.000% due 8/1/37 | 5268246  |
| 2850000 | Aa1<sup>(b)</sup> | Willmar Independent School District No 347, GO, Series A, 5.000% due 2/1/28 | 2998453  |
|  |  | Total Minnesota | 12868391  |
| **Mississippi – 0.7%**  | **Mississippi – 0.7%**  | **Mississippi – 0.7%**  | **Mississippi – 0.7%**  |
|  |  | State of Mississippi, GO: <br>|  |
| 160000 | AA | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 10/1/30 | 167082  |
| 4000000 | AA | &nbsp;&nbsp;&nbsp; Series C, 5.000% due 10/1/35 | 4246754  |
|  |  | Total Mississippi | 4413836  |
| **Missouri – 1.1%**  | **Missouri – 1.1%**  | **Missouri – 1.1%**  | **Missouri – 1.1%**  |
| 1000000 | AA+ | Grain Valley No R-V School District, GO, Series A, 5.000% due 3/1/35 | 1049563  |
| 350000 | NR | Kansas City Industrial Development Authority, Revenue Bonds, Series A1, 5.000% due 6/1/54<sup>(c)</sup> | 343038  |
| 2500000 | AAA | Metropolitan St Louis Sewer District, Revenue Bonds, Series A, 5.000% due 5/1/37 | 2561815  |

---

See Notes to Financial Statements.

254<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Municipal Fixed Income Fund(continued)** 

---

| | | | |
|:---|:---|:---|:---|
| **Face Amount/Units** | **Rating††** | **Security** | **Value**  |
| **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  |
| **Missouri – (continued)**  | **Missouri – (continued)**  | **Missouri – (continued)**  | **Missouri – (continued)**  |
| $2100000 | AA- | Missouri Development Finance Board, Revenue Bonds, 5.500% due 5/1/41 | $2340990  |
| 525000 | AA+ | Missouri Housing Development Commission, Revenue Bonds, Series F, 3.650% due 11/1/33 | 539708  |
|  |  | Total Missouri | 6835114  |
| **Montana – 0.4%**  | **Montana – 0.4%**  | **Montana – 0.4%**  | **Montana – 0.4%**  |
| 1000000 | AA | Lewis & Clark County High School District No 1 Helena, GO, 5.000% due 7/1/43 | 1112795  |
| 1390000 | AA | Yellowstone & Carbon Counties School District No 7-70 Laurel, GO, 5.000% due 7/1/42 | 1516948  |
|  |  | Total Montana | 2629743  |
| **Nebraska – 1.1%**  | **Nebraska – 1.1%**  | **Nebraska – 1.1%**  | **Nebraska – 1.1%**  |
| 1500000 | BBB+ | Central Plains Energy Project, Revenue Bonds, Series A, 5.000% due 9/1/42 | 1632226  |
| 340000 | A | Douglas County Hospital Authority No 3, Revenue Bonds, 5.250% due 11/1/43 | 375527  |
|  |  | Public Power Generation Agency, Revenue Bonds: <br>|  |
| 1815000 | A2<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 5.000% due 1/1/41 | 1825479  |
| 1885000 | A2<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 1/1/27 | 1927902  |
| 1000000 | Aa3<sup>(b)</sup> | Ralston Public Schools, GO, 5.000% due 12/15/43 | 1072077  |
|  |  | Total Nebraska | 6833211  |
| **Nevada – 1.0%**  | **Nevada – 1.0%**  | **Nevada – 1.0%**  | **Nevada – 1.0%**  |
| 1520000 | AAA | Clark County Water Reclamation District, GO, 4.000% due 7/1/35 | 1521163  |
|  |  | County of Clark NV, GO: <br>|  |
| 2750000 | AAA | &nbsp;&nbsp;&nbsp; Series B, 4.000% due 11/1/34 | 2771329  |
| 2000000 | AAA | &nbsp;&nbsp;&nbsp; Series B, 4.000% due 12/1/39 | 2040393  |
|  |  | Total Nevada | 6332885  |
| **New Hampshire – 0.1%**  | **New Hampshire – 0.1%**  | **New Hampshire – 0.1%**  | **New Hampshire – 0.1%**  |
| 1000000 | B- | New Hampshire Business Finance Authority, Revenue Bonds, Series B, 4.625% due 11/1/42<sup>(c)</sup> | 912326  |
| **New Jersey – 1.6%**  | **New Jersey – 1.6%**  | **New Jersey – 1.6%**  | **New Jersey – 1.6%**  |
| 1000000 | A | New Jersey Economic Development Authority, Revenue Bonds, Series EEE, 5.000% due 6/15/30 | 1075867  |
|  |  | New Jersey Educational Facilities Authority, Revenue Bonds: <br>|  |
| 1000000 | AAA | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 7/1/64<sup>(d)</sup> | 1124107  |
| 1315000 | AAA | &nbsp;&nbsp;&nbsp; Series C, 5.000% due 3/1/28 | 1391245  |
|  |  | New Jersey Transportation Trust Fund Authority, Revenue Bonds: <br>|  |
| 1320000 | A | &nbsp;&nbsp;&nbsp; 5.000% due 12/15/28 | 1419906  |
| 870000 | A | &nbsp;&nbsp;&nbsp; Series A, zero coupon, due 12/15/27 | 833293  |
| 195000 | A | &nbsp;&nbsp;&nbsp; Series A, zero coupon, due 12/15/28 | 182088  |
| 895000 | A | &nbsp;&nbsp;&nbsp; Series A, 4.000% due 6/15/39 | 920899  |
| 220000 | A | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 12/15/33 | 234957  |
| 1050000 | A | &nbsp;&nbsp;&nbsp; Series AA, 5.000% due 6/15/40 | 1130360  |
| 1770000 | A | &nbsp;&nbsp;&nbsp; Series BB, 5.000% due 6/15/44 | 1827929  |
|  |  | Total New Jersey | 10140651  |

---

See Notes to Financial Statements.

255<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Municipal Fixed Income Fund(continued)** 

---

| | | | |
|:---|:---|:---|:---|
| **Face Amount/Units** | **Rating††** | **Security** | **Value**  |
| **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  |
| **New York – 11.0%**  | **New York – 11.0%**  | **New York – 11.0%**  | **New York – 11.0%**  |
| $2010000 | Aaa<sup>(b)</sup> | Battery Park City Authority, Revenue Bonds, 5.000% due 11/1/50 | $2140375  |
|  |  | Build NYC Resource Corp., Revenue Bonds: <br>|  |
| 1650000 | BBB+ | &nbsp;&nbsp;&nbsp; 5.500% due 7/1/55<sup>(a)</sup> | 1728154  |
| 1000000 | NR | &nbsp;&nbsp;&nbsp; Series A, 7.000% due 12/15/65<sup>(c)</sup> | 1003304  |
|  |  | City of New York NY, GO: <br>|  |
| 2500000 | AA | &nbsp;&nbsp;&nbsp; Series B1, 5.000% due 12/1/41 | 2533256  |
| 500000 | AA | &nbsp;&nbsp;&nbsp; Series B1, 5.250% due 10/1/41 | 556746  |
| 2000000 | AA | &nbsp;&nbsp;&nbsp; Series C1, 5.000% due 8/1/31 | 2224856  |
| 3425000 | AA | &nbsp;&nbsp;&nbsp; Series D1, 5.000% due 12/1/34 | 3656079  |
| 1000000 | AA | &nbsp;&nbsp;&nbsp; Series F1, 5.000% due 4/1/43 | 1031611  |
|  |  | Empire State Development Corp., Revenue Bonds: <br>|  |
| 1000000 | AA+ | &nbsp;&nbsp;&nbsp; Series A, 3.000% due 3/15/50 | 746220  |
| 3500000 | AA+ | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 3/15/38 | 3577280  |
| 1780000 | AA | Metropolitan Transportation Authority Dedicated Tax Fund, Revenue Bonds, Series A, 5.250% due 11/15/27 | 1816832  |
|  |  | Metropolitan Transportation Authority, Revenue Bonds: <br>|  |
| 245000 | A | &nbsp;&nbsp;&nbsp; Series A2, 5.000% due 11/15/29 | 251633  |
| 270000 | A | &nbsp;&nbsp;&nbsp; Series B, 5.000% due 11/15/30 | 274565  |
| 290000 | A | &nbsp;&nbsp;&nbsp; Series C1, 5.000% due 11/15/27 | 295008  |
| 300000 | A | &nbsp;&nbsp;&nbsp; Series C1, 5.000% due 11/15/31 | 316033  |
| 370000 | A3<sup>(b)</sup> | MTA Hudson Rail Yards Trust Obligations, Revenue Bonds, Series A, 5.000% due 11/15/51 | 370001  |
| 250000 | CC | Nassau County Tobacco Settlement Corp., Revenue Bonds, Series A3, 5.000% due 6/1/35 | 197694  |
|  |  | New York City Municipal Water Finance Authority, Revenue Bonds: <br>|  |
| 1000000 | AA+ | &nbsp;&nbsp;&nbsp; 5.000% due 6/15/41 | 1079293  |
| 2430000 | AA+ | &nbsp;&nbsp;&nbsp; Series DD, 5.000% due 6/15/28 | 2592767  |
| 1945000 | AA+ | &nbsp;&nbsp;&nbsp; Series EE, 5.000% due 6/15/45 | 2006824  |
| 1500000 | AA | &nbsp;&nbsp;&nbsp; New York City Transitional Finance Authority Building Aid Revenue, Revenue Bonds, <br>Series S2, 5.000% due 7/15/37 | 1792246  |
|  |  | New York City Transitional Finance Authority Future Tax Secured Revenue, Revenue Bonds: <br>|  |
| 3200000 | AAA | &nbsp;&nbsp;&nbsp; Series A1, 5.000% due 8/1/41 | 3528977  |
| 2185000 | AAA | &nbsp;&nbsp;&nbsp; Series A1, 5.000% due 8/1/43 | 2362765  |
| 1100000 | AAA | &nbsp;&nbsp;&nbsp; Series B1, 4.000% due 11/1/43 | 1092271  |
| 275000 | AAA | &nbsp;&nbsp;&nbsp; Series C2, 5.000% due 5/1/32 | 290407  |
| 1000000 | AAA | &nbsp;&nbsp;&nbsp; Series C3, 5.000% due 5/1/41 | 1042363  |
| 1000000 | AAA | &nbsp;&nbsp;&nbsp; Series D1, 5.000% due 11/1/36 | 1190836  |
| 1600000 | AAA | &nbsp;&nbsp;&nbsp; Series F1, 5.000% due 2/1/41 | 1759979  |
| 1000000 | NR | New York Liberty Development Corp., Revenue Bonds, 5.000% due 11/15/44<sup>(c)</sup>  | 1001641  |

---

See Notes to Financial Statements.

256<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Municipal Fixed Income Fund(continued)** 

---

| | | | |
|:---|:---|:---|:---|
| **Face Amount/Units** | **Rating††** | **Security** | **Value**  |
| **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  |
| **New York – (continued)**  | **New York – (continued)**  | **New York – (continued)**  | **New York – (continued)**  |
|  |  | New York State Dormitory Authority, Revenue Bonds: <br>|  |
| $1000000 | B | &nbsp;&nbsp;&nbsp; 4.000% due 7/1/45 | $822981  |
| 3000000 | Aa1<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; Series A, 5.250% due 3/15/38 | 3181613  |
| 1000000 | AA | &nbsp;&nbsp;&nbsp; Series K, 3.000% due 10/1/31 | 997003  |
| 1000000 | AAA | New York State Environmental Facilities Corp., Revenue Bonds, Series C, 5.250% due 6/15/43 | 1153031  |
|  |  | New York State Housing Finance Agency, Revenue Bonds: <br>|  |
| 925000 | Aa2<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; Series B2, 3.600% due 11/1/64<sup>(d)</sup> | 934419  |
| 1225000 | Aa2<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; Series D2, 3.375% due 5/1/65<sup>(d)</sup> | 1240627  |
|  |  | New York Transportation Development Corp., Revenue Bonds: <br>|  |
| 2000000 | Baa1<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 5.000% due 12/1/36<sup>(a)</sup> | 2183864  |
| 2500000 | Baa1<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 5.000% due 12/1/37<sup>(a)</sup> | 2712026  |
| 1500000 | BBB- | &nbsp;&nbsp;&nbsp; 5.625% due 4/1/40<sup>(a)</sup> | 1605453  |
| 1500000 | BBB- | &nbsp;&nbsp;&nbsp; 6.000% due 4/1/35<sup>(a)</sup> | 1673849  |
| 1585000 | Baa3<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 6.000% due 6/30/50<sup>(a)</sup> | 1712040  |
| 1500000 | B- | Niagara Area Development Corp., Revenue Bonds, Series A, 4.750% due 11/1/42<sup>(a)(c)</sup> | 1388875  |
|  |  | Port Authority of New York & New Jersey, Revenue Bonds: <br>|  |
| 4000000 | AA- | &nbsp;&nbsp;&nbsp; Series 249, 5.000% due 10/15/29<sup>(a)</sup> | 4350838  |
| 2250000 | AA- | &nbsp;&nbsp;&nbsp; Series 249, 5.000% due 10/15/31<sup>(a)</sup> | 2532474  |
| 1500000 | NR | TSASC Inc., Revenue Bonds, 5.000% due 6/1/48 | 1380469  |
|  |  | Total New York | 70329578  |
| **North Carolina – 0.9%**  | **North Carolina – 0.9%**  | **North Carolina – 0.9%**  | **North Carolina – 0.9%**  |
| 615000 | Aa3<sup>(b)</sup> | City of Charlotte NC Airport Revenue, Revenue Bonds, Series B, 5.000% due 7/1/34<sup>(a)</sup> | 709078  |
| 2310000 | AA | City of Fayetteville NC Public Works Commission Revenue, Revenue Bonds, 4.000% due 3/1/55 | 2216352  |
|  |  | County of Wake NC, Revenue Bonds: <br>|  |
| 1210000 | AA+ | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 5/1/28 | 1284280  |
| 1470000 | AA+ | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 5/1/41 | 1683733  |
| 105000 | Aa3<sup>(b)</sup> | Raleigh Durham Airport Authority, Revenue Bonds, Series A, 5.000% due 5/1/29<sup>(a)</sup> | 112839  |
|  |  | Total North Carolina | 6006282  |
| **Ohio – 2.7%**  | **Ohio – 2.7%**  | **Ohio – 2.7%**  | **Ohio – 2.7%**  |
| 3945000 | NR | Buckeye Tobacco Settlement Financing Authority, Revenue Bonds, Series B2, 5.000% due 6/1/55 | 3257442  |
| 1000000 | BB+ | Cleveland-Cuyahoga County Port Authority, Revenue Bonds, 5.500% due 12/1/43 | 1020511  |
| 5000 | NR | Columbus City School District, GO, Series Prerefunded 6/1/26 @ 100, 5.000% due 12/1/32<sup>(f)</sup> | 5034  |
| 1000000 | Aa2<sup>(b)</sup> | County of Franklin OH, Revenue Bonds, Series A, 5.250% due 11/1/55 | 1056462  |
| 140000 | BB+ | County of Muskingum OH, Revenue Bonds, 5.000% due 2/15/44 | 140017  |
| 1000000 | NR | County of Washington OH, Revenue Bonds, 6.625% due 12/1/42 | 1081056  |

---

See Notes to Financial Statements.

257<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Municipal Fixed Income Fund(continued)** 

---

| | | | |
|:---|:---|:---|:---|
| **Face Amount/Units** | **Rating††** | **Security** | **Value**  |
| **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  |
| **Ohio – (continued)**  | **Ohio – (continued)**  | **Ohio – (continued)**  | **Ohio – (continued)**  |
|  |  | Jefferson County Port Authority, Revenue Bonds: <br>|  |
| $1000000 | Ba1<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 3.500% due 12/1/51<sup>(a)(c)</sup> | $850590  |
| 1000000 | Ba1<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 5.000% due 12/1/53<sup>(a)(c)(d)</sup> | 1025648  |
| 1250000 | CCC+ | Ohio Air Quality Development Authority, Revenue Bonds, 5.000% due 7/1/49<sup>(a)(c)</sup> | 1164220  |
|  |  | State of Ohio, GO: <br>|  |
| 4510000 | AAA | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 3/1/30 | 5004771  |
| 1500000 | AAA | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 3/1/43 | 1701056  |
| 1000000 | A | State of Ohio, Revenue Bonds, Series A, 5.000% due 1/15/29 | 1066835  |
|  |  | Total Ohio | 17373642  |
| **Oklahoma – 1.9%**  | **Oklahoma – 1.9%**  | **Oklahoma – 1.9%**  | **Oklahoma – 1.9%**  |
|  |  | Creek County Educational Facilities Authority, Revenue Bonds: <br>|  |
| 850000 | AA | &nbsp;&nbsp;&nbsp; 5.000% due 9/1/38 | 960975  |
| 800000 | AA | &nbsp;&nbsp;&nbsp; 5.000% due 9/1/39 | 897365  |
| 1150000 | AA | &nbsp;&nbsp;&nbsp; 5.000% due 9/1/40 | 1272722  |
| 1000000 | Aa3<sup>(b)</sup> | Oklahoma County Independent School District No 52 Midwest City-Del City, GO, 4.000% due 7/1/28 | 1038500  |
| 2500000 | AA | Oklahoma County Independent School District No 89 Oklahoma City, GO, Series A, 1.250% due 7/1/26 | 2491759  |
|  |  | Oklahoma Development Finance Authority, Revenue Bonds: <br>|  |
| 2000000 | BB+ | &nbsp;&nbsp;&nbsp; Series B, 5.500% due 8/15/52 | 2005685  |
| 1170000 | BB+ | &nbsp;&nbsp;&nbsp; Series B, 5.500% due 8/15/57 | 1171967  |
| 2155000 | AAA | Oklahoma Water Resources Board, Revenue Bonds, 5.000% due 4/1/38 | 2509936  |
|  |  | Total Oklahoma | 12348909  |
| **Oregon – 0.4%**  | **Oregon – 0.4%**  | **Oregon – 0.4%**  | **Oregon – 0.4%**  |
| 750000 | AA | City of Tigard OR Water Revenue, Revenue Bonds, 5.000% due 8/1/43 | 838541  |
|  |  | Port of Portland OR Airport Revenue, Revenue Bonds: <br>|  |
| 300000 | AA- | &nbsp;&nbsp;&nbsp; 5.000% due 7/1/28<sup>(a)</sup> | 317575  |
| 165000 | AA- | &nbsp;&nbsp;&nbsp; 5.000% due 7/1/29 | 174607  |
| 205000 | AA- | &nbsp;&nbsp;&nbsp; Series 24B, 5.000% due 7/1/32<sup>(a)</sup> | 208886  |
| 1275000 | Aa2<sup>(b)</sup> | State of Oregon Housing & Community Services Department, Revenue Bonds, Series D, 3.800% due 7/1/34 | 1285105  |
|  |  | Total Oregon | 2824714  |
| **Pennsylvania – 3.8%**  | **Pennsylvania – 3.8%**  | **Pennsylvania – 3.8%**  | **Pennsylvania – 3.8%**  |
|  |  | City of Philadelphia PA, GO: <br>|  |
| 3000000 | A+ | &nbsp;&nbsp;&nbsp; Series C, 5.000% due 8/1/30 | 3334885  |
| 6795000 | A+ | &nbsp;&nbsp;&nbsp; Series C, 5.000% due 8/1/32 | 7820002  |
| 500000 | AA- | City of Pittsburgh PA, GO, 5.000% due 9/1/40 | 551150  |
| 1010000 | A | Commonwealth Financing Authority, Revenue Bonds, Series A, 5.000% due 6/1/28 | 1068120  |
|  |  | Commonwealth of Pennsylvania, GO: <br>|  |
| 2705000 | A+ | &nbsp;&nbsp;&nbsp; Series First, 5.000% due 4/1/33 | 3141705  |
| 1000000 | A+ | &nbsp;&nbsp;&nbsp; Series Second, 4.000% due 9/15/34 | 1007485  |

---

See Notes to Financial Statements.

258<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Municipal Fixed Income Fund(continued)** 

---

| | | | |
|:---|:---|:---|:---|
| **Face Amount/Units** | **Rating††** | **Security** | **Value**  |
| **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  |
| **Pennsylvania – (continued)**  | **Pennsylvania – (continued)**  | **Pennsylvania – (continued)**  | **Pennsylvania – (continued)**  |
| $810000 | A+ | &nbsp;&nbsp;&nbsp; Series Second, 5.000% due 9/15/29 | $821846  |
| 750000 | AA- | Dallastown Area School District, GO, 5.000% due 3/15/44<sup>(g)</sup> | 808732  |
| 1500000 | A+ | Delaware Valley Regional Finance Authority, Revenue Bonds, Series A, 4.000% due 12/1/37 | 1612508  |
| 1000000 | Baa2<sup>(b)</sup> | Pennsylvania Economic Development Financing Authority, Revenue Bonds, 5.500% due 6/30/37<sup>(a)</sup> | 1121868  |
| 1000000 | AA | Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Series C, 4.000% due 8/15/41 | 1000272  |
| 450000 | BBB-<sup>(e)</sup> | Philadelphia Authority for Industrial Development, Revenue Bonds, Series A, 5.750% due 6/1/50 | 457108  |
| 1500000 | Aa2<sup>(b)</sup> | West Shore School District, GO, 5.000% due 11/15/43 | 1521191  |
|  |  | Total Pennsylvania | 24266872  |
| **Puerto Rico – 1.0%**  | **Puerto Rico – 1.0%**  | **Puerto Rico – 1.0%**  | **Puerto Rico – 1.0%**  |
|  |  | Commonwealth of Puerto Rico, GO: <br>|  |
| 1000000 | NR | &nbsp;&nbsp;&nbsp; Series A1, 4.000% due 7/1/41 | 969258  |
| 1000000 | NR | &nbsp;&nbsp;&nbsp; Series A1, 4.000% due 7/1/46 | 901542  |
|  |  | Puerto Rico Commonwealth Aqueduct & Sewer Authority, Revenue Bonds: <br>|  |
| 1000000 | NR | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 7/1/47<sup>(c)</sup> | 1001791  |
| 1000000 | NR | &nbsp;&nbsp;&nbsp; Series B, 4.000% due 7/1/47<sup>(c)</sup> | 901082  |
|  |  | Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, Revenue Bonds: <br>|  |
| 1500000 | NR | &nbsp;&nbsp;&nbsp; Series A1, 4.750% due 7/1/53 | 1459715  |
| 1000000 | NR | &nbsp;&nbsp;&nbsp; Series A1, 5.000% due 7/1/58 | 979438  |
|  |  | Total Puerto Rico | 6212826  |
| **Rhode Island – 0.7%**  | **Rhode Island – 0.7%**  | **Rhode Island – 0.7%**  | **Rhode Island – 0.7%**  |
|  |  | Providence Public Building Authority, Revenue Bonds, AGM-Insured: <br>|  |
| 400000 | AA | &nbsp;&nbsp;&nbsp; Series A, 5.250% due 9/15/41 | 450724  |
| 410000 | AA | &nbsp;&nbsp;&nbsp; Series A, 5.250% due 9/15/43 | 451714  |
|  |  | Rhode Island Health & Educational Building Corp., Revenue Bonds: <br>|  |
| 1000000 | AA- | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 5/15/42 | 1087367  |
| 1000000 | AA- | &nbsp;&nbsp;&nbsp; Series H, 5.000% due 5/15/36 | 1182847  |
|  |  | Rhode Island Student Loan Authority, Revenue Bonds: <br>|  |
| 55000 | AA | &nbsp;&nbsp;&nbsp; Series A, 3.500% due 12/1/34<sup>(a)</sup> | 55005  |
| 1125000 | AA | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 12/1/26<sup>(a)</sup> | 1145427  |
|  |  | Total Rhode Island | 4373084  |
| **South Carolina – 1.3%**  | **South Carolina – 1.3%**  | **South Carolina – 1.3%**  | **South Carolina – 1.3%**  |
| 1000000 | A1<sup>(b)</sup> | Patriots Energy Group Financing Agency, Revenue Bonds, Series A1, 5.250% due 10/1/54<sup>(d)</sup> | 1099122  |
|  |  | South Carolina Jobs-Economic Development Authority, Revenue Bonds: <br>|  |
| 1000000 | NR | &nbsp;&nbsp;&nbsp; 7.500% due 11/15/53 | 1066883  |
| 1000000 | NR | &nbsp;&nbsp;&nbsp; 7.750% due 11/15/58 | 1074382  |
| 1600000 | A+ | &nbsp;&nbsp;&nbsp; Series A, 5.250% due 11/1/41 | 1805295  |
| 2500000 | NR | &nbsp;&nbsp;&nbsp; Series A1, 6.750% due 10/15/60<sup>(c)</sup> | 2530756  |

---

See Notes to Financial Statements.

259<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Municipal Fixed Income Fund(continued)** 

---

| | | | |
|:---|:---|:---|:---|
| **Face Amount/Units** | **Rating††** | **Security** | **Value**  |
| **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  |
| **South Carolina – (continued)**  | **South Carolina – (continued)**  | **South Carolina – (continued)**  | **South Carolina – (continued)**  |
|  |  | South Carolina Public Service Authority, Revenue Bonds: <br>|  |
| $185000 | A- | &nbsp;&nbsp;&nbsp; Series B, 5.000% due 12/1/35 | $188012  |
| 275000 | A- | &nbsp;&nbsp;&nbsp; Series B, 5.000% due 12/1/36 | 279225  |
|  |  | Total South Carolina | 8043675  |
| **Tennessee – 0.7%**  | **Tennessee – 0.7%**  | **Tennessee – 0.7%**  | **Tennessee – 0.7%**  |
| 1000000 | A | Chattanooga Health Educational & Housing Facility Board, Revenue Bonds, 5.000% due 12/1/34 | 1165685  |
| 1000000 | AA+ | County of Shelby TN, GO, Series A, 4.000% due 4/1/37 | 1026170  |
| 1125000 | A1<sup>(b)</sup> | Metropolitan Nashville Airport Authority, Revenue Bonds, Series B, 5.250% due 7/1/33<sup>(a)</sup> | 1281008  |
| 1000000 | AA+ | Tennessee State School Bond Authority, Revenue Bonds, 5.000% due 11/1/42 | 1061873  |
|  |  | Total Tennessee | 4534736  |
| **Texas – 10.8%**  | **Texas – 10.8%**  | **Texas – 10.8%**  | **Texas – 10.8%**  |
| 1765000 | AAA | Academy Independent School District, GO, PSF-GTD-Insured, 5.000% due 8/15/43 | 1900808  |
| 1500000 | AAA | Aldine Independent School District, GO, PSF-GTD-Insured, Series B, 5.000% due 2/15/33 | 1744512  |
| 1000000 | Aaa<sup>(b)</sup> | Argyle Independent School District, GO, PSF-GTD-Insured, Series B1, 4.000% due 8/15/57<sup>(d)</sup> | 1021841  |
| 1000000 | AAA | Arlington Higher Education Finance Corp., Revenue Bonds, PSF-GTD-Insured, 5.000% due 8/15/48 | 1044718  |
| 1500000 | Aaa<sup>(b)</sup> | Brazosport Independent School District, GO, PSF-GTD-Insured, 4.000% due 2/15/33 | 1517270  |
| 1000000 | Aaa<sup>(b)</sup> | Burleson Independent School District, GO, PSF-GTD-Insured, 5.000% due 8/1/28 | 1067122  |
|  |  | Central Texas Regional Mobility Authority, Revenue Bonds: <br>|  |
| 600000 | A+ | &nbsp;&nbsp;&nbsp; Series B, 4.000% due 1/1/41 | 605578  |
| 375000 | A+ | &nbsp;&nbsp;&nbsp; Series B, 5.000% due 1/1/29 | 402079  |
| 1800000 | A+ | &nbsp;&nbsp;&nbsp; Series E, 5.000% due 1/1/38 | 1925140  |
| 405000 | AA | City of Bryan TX Electric System Revenue, Revenue Bonds, 5.000% due 7/1/41 | 435010  |
|  |  | City of Houston TX Airport System Revenue, Revenue Bonds: <br>|  |
| 360000 | A1<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; Series B, 5.000% due 7/1/29 | 383186  |
| 800000 | Ba2<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; Series B, 5.500% due 7/15/37<sup>(a)</sup> | 884722  |
| 2330000 | A1<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; Series D, 5.000% due 7/1/26 | 2350576  |
|  |  | City of Houston TX Combined Utility System Revenue, Revenue Bonds: <br>|  |
| 1000000 | Aa2<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 11/15/41 | 1117091  |
| 3000000 | Aa2<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; Series B, 4.000% due 11/15/31 | 3026141  |
| 500000 | A+ | City of San Antonio TX Electric & Gas Systems Revenue, Revenue Bonds, 4.000% due 2/1/43 | 506417  |
| 2345000 | AAA | Community Independent School District, GO, PSF-GTD-Insured, 5.000% due 2/15/41 | 2577586  |

---

See Notes to Financial Statements.

260<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Municipal Fixed Income Fund(continued)** 

---

| | | | |
|:---|:---|:---|:---|
| **Face Amount/Units** | **Rating††** | **Security** | **Value**  |
| **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  |
| **Texas – (continued)**  | **Texas – (continued)**  | **Texas – (continued)**  | **Texas – (continued)**  |
| $700000 | NR | County of Denton TX, Special Assessment, 6.125% due 12/31/55<sup>(c)</sup> | $724539  |
| 1490000 | AAA | County of Travis TX, GO, Series A, 5.000% due 3/1/38 | 1574855  |
| 1000000 | Aaa<sup>(b)</sup> | Eagle Mountain & Saginaw Independent School District, GO, PSF-GTD-Insured, 5.000% due 8/15/30 | 1119767  |
|  |  | Georgetown Independent School District, GO, PSF-GTD-Insured: <br>|  |
| 1000000 | AAA | &nbsp;&nbsp;&nbsp; 3.750% due 8/15/41 | 1015846  |
| 1000000 | AAA | &nbsp;&nbsp;&nbsp; 3.875% due 8/15/44 | 995433  |
|  |  | Grand Parkway Transportation Corp., Revenue Bonds: <br>|  |
| 150000 | AA+ | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 10/1/31 | 158211  |
| 125000 | AA+ | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 10/1/32 | 131665  |
| 190000 | AA+ | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 10/1/33 | 199790  |
| 145000 | AA+ | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 10/1/34 | 152182  |
| 1500000 | AA- | Harris County Cultural Education Facilities Finance Corp., Revenue Bonds, 5.000% due 7/1/39 | 1508509  |
| 325000 | AA+ | Houston Independent School District, GO, Series A, 5.000% due 7/15/45<sup>(d)</sup> | 343334  |
| 800000 | AAA | Hutto Independent School District, GO, PSF-GTD-Insured, 5.000% due 8/1/35 | 956458  |
| 5050000 | AAA | Lamar Consolidated Independent School District, GO, PSF-GTD-Insured, 5.000% due 2/15/34 | 5174431  |
| 1180000 | AAA | Lovejoy Independent School District, GO, PSF-GTD-Insured, 5.000% due 2/15/34 | 1391761  |
| 1200000 | NR | New Hope Cultural Education Facilities Finance Corp., Revenue Bonds, Series A, 6.500% due 7/1/56<sup>(c)</sup> | 1199227  |
| 1000000 | Aaa<sup>(b)</sup> | North East Independent School District, GO, PSF-GTD-Insured, Series A, 4.000% due 8/1/41 | 1027309  |
| 1000000 | NR | North Parkway Municipal Management District No 1, Special Assessment, 5.000% due 9/15/51<sup>(c)</sup> | 964814  |
| 1000000 | A+ | North Texas Tollway Authority, Revenue Bonds, 4.000% due 1/1/38 | 1010530  |
| 2000000 | Aaa<sup>(b)</sup> | Northside Independent School District, GO, PSF-GTD-Insured, 3.450% due 8/15/37 | 2000582  |
| 1000000 | AAA | Pecos Barstow Toyah Independent School District, GO, PSF-GTD-Insured, 5.000% due 2/15/38 | 1001045  |
|  |  | Permanent University Fund - University of Texas System, Revenue Bonds: <br>|  |
| 4335000 | AAA | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 7/1/39 | 5252025  |
| 3025000 | AAA | &nbsp;&nbsp;&nbsp; Series B, 5.000% due 7/1/36 | 3654958  |
| 1000000 | NR | Port of Beaumont Navigation District, Revenue Bonds, Series A, 5.250% due 1/1/54<sup>(a)(c)</sup> | 963537  |
|  |  | State of Texas, GO: <br>|  |
| 150000 | AAA | &nbsp;&nbsp;&nbsp; 5.000% due 8/1/26<sup>(a)</sup> | 150281  |
| 500000 | AAA | &nbsp;&nbsp;&nbsp; 5.000% due 8/1/35<sup>(a)</sup> | 580325  |
| 1375000 | Aaa<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 5.000% due 10/1/43 | 1543794  |
| 200000 | AAA | &nbsp;&nbsp;&nbsp; 5.500% due 8/1/26<sup>(a)</sup> | 202412  |
| 1000000 | A2<sup>(b)</sup> | Tarrant County Cultural Education Facilities Finance Corp., Revenue Bonds, Series A, 5.000% due 7/1/32 | 1125356  |

---

See Notes to Financial Statements.

261<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Municipal Fixed Income Fund(continued)** 

---

| | | | |
|:---|:---|:---|:---|
| **Face Amount/Units** | **Rating††** | **Security** | **Value**  |
| **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  |
| **Texas – (continued)**  | **Texas – (continued)**  | **Texas – (continued)**  | **Texas – (continued)**  |
| $381366 | Aa1<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; Texas Department of Housing & Community Affairs, Revenue Bonds: <br>2.950% due 7/1/36 | $360972  |
| 180000 | AA+ | &nbsp;&nbsp;&nbsp; Series A, 4.000% due 3/1/50 | 183720  |
| 2640000 | A1<sup>(b)</sup> | Texas Municipal Gas Acquisition & Supply Corp. V, Revenue Bonds, 5.000% due 1/1/33 | 2903623  |
| 600000 | AA+ | Texas Public Finance Authority, Revenue Bonds, 5.000% due 2/1/28 | 632202  |
|  |  | Texas Water Development Board, Revenue Bonds: <br>|  |
| 2000000 | AAA | &nbsp;&nbsp;&nbsp; 4.650% due 10/15/40 | 2150917  |
| 2000000 | AAA | &nbsp;&nbsp;&nbsp; 5.000% due 4/15/34 | 2377950  |
| 125000 | AAA | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 4/15/26 | 125432  |
| 190000 | AAA | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 4/15/29 | 198747  |
| 1500000 | AAA | Tomball Independent School District, GO, PSF-GTD-Insured, 4.000% due 2/15/50 | 1396838  |
|  |  | Total Texas | 68963174  |
| **Utah – 1.4%**  | **Utah – 1.4%**  | **Utah – 1.4%**  | **Utah – 1.4%**  |
| 600000 | NR | Black Desert Public Infrastructure District, Special Assessment, 5.625% due 12/1/53<sup>(c)</sup> | 607435  |
| 1000000 | NR | Black Ridge Infrastructure Financing District, Special Assessment, 6.250% due 12/1/54 | 1010244  |
|  |  | City of Salt Lake City UT Airport Revenue, Revenue Bonds: <br>|  |
| 115000 | A+ | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 7/1/28<sup>(a)</sup> | 118584  |
| 155000 | A+ | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 7/1/30<sup>(a)</sup> | 163192  |
| 625000 | A+ | &nbsp;&nbsp;&nbsp; Series A, 5.250% due 7/1/36<sup>(a)</sup> | 711315  |
| 1250000 | AA | City of Vineyard UT Water & Sewer Revenue, Revenue Bonds, 5.000% due 5/1/43 | 1343468  |
| 1400000 | A2<sup>(b)</sup> | Duchesne County School District, Revenue Bonds, 5.000% due 6/1/37 | 1475170  |
| 500000 | NR | Grapevine Wash Local District, Special Assessment, Series A2, 5.250% due 12/1/44<sup>(c)</sup> | 500689  |
| 1165000 | NR | Mida Mountain Village Public Infrastructure District, Special Assessment, 4.000% due 8/1/50<sup>(c)</sup> | 1009030  |
| 500000 | NR | Mida Mountain Village Public Infrastructure District, Special Tax, Series 2, 6.000% due 6/15/54<sup>(c)</sup> | 515468  |
| 1000000 | NR | Verk Industrial Regional Public Infrastructure District, Special Tax, 6.625% due 9/1/47<sup>(c)</sup> | 1062983  |
| 700000 | NR | Wolf Creek Infrastructure Financing District No 1, Special Assessment, 5.750% due 12/1/44 | 727550  |
|  |  | Total Utah | 9245128  |
| **Vermont – 0.2%**  | **Vermont – 0.2%**  | **Vermont – 0.2%**  | **Vermont – 0.2%**  |
|  |  | Vermont Student Assistance Corp., Revenue Bonds: <br>|  |
| 750000 | A | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 6/15/29<sup>(a)</sup> | 782439  |
| 675000 | A | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 6/15/30<sup>(a)</sup> | 716766  |
|  |  | Total Vermont | 1499205  |

---

See Notes to Financial Statements.

262<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Municipal Fixed Income Fund(continued)** 

---

| | | | |
|:---|:---|:---|:---|
| **Face Amount/Units** | **Rating††** | **Security** | **Value**  |
| **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  |
| **Virginia – 0.8%**  | **Virginia – 0.8%**  | **Virginia – 0.8%**  | **Virginia – 0.8%**  |
| $1000000 | AA | Hampton Roads Transportation Accountability Commission, Revenue Bonds, Series A, Prerefunded 1/1/28 @ 100, 5.000% due 7/1/35<sup>(f)</sup> | $1051674  |
| 1700000 | NR | Peninsula Town Center Community Development Authority, Special Assessment, 4.500% due 9/1/45<sup>(c)</sup> | 1626279  |
| 1000000 | B- | Tobacco Settlement Financing Corp., Revenue Bonds, Series B1, 5.000% due 6/1/47 | 847870  |
|  |  | Virginia College Building Authority, Revenue Bonds: <br>|  |
| 265000 | AA+ | &nbsp;&nbsp;&nbsp; Series E, 5.000% due 2/1/30 | 278673  |
| 305000 | AA+ | &nbsp;&nbsp;&nbsp; Series E, 5.000% due 2/1/31 | 320645  |
| 300000 | AAA | Virginia Housing Development Authority, Revenue Bonds, Series F3, 3.600% due 1/1/33 | 307237  |
| 500000 | AAA | Virginia Resources Authority, Revenue Bonds, Series C, 5.000% due 11/1/29 | 551468  |
|  |  | Total Virginia | 4983846  |
| **Washington – 3.4%**  | **Washington – 3.4%**  | **Washington – 3.4%**  | **Washington – 3.4%**  |
| 1070000 | AA | City of Seattle WA Municipal Light & Power Revenue, Revenue Bonds, 5.000% due 2/1/34 | 1266495  |
| 1000000 | BB+ | Grays Harbor County Public Hospital District No 1, Revenue Bonds, 6.875% due 12/1/53 | 1101865  |
|  |  | Port of Seattle WA, Revenue Bonds: <br>|  |
| 1245000 | AA- | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 5/1/36<sup>(a)</sup> | 1272016  |
| 1000000 | AA | &nbsp;&nbsp;&nbsp; Series B, 5.000% due 10/1/26<sup>(a)</sup> | 1001796  |
| 980000 | AA | &nbsp;&nbsp;&nbsp; Series B, 5.000% due 10/1/27<sup>(a)</sup> | 981663  |
| 135000 | AA | &nbsp;&nbsp;&nbsp; Series B, 5.000% due 10/1/29<sup>(a)</sup> | 135235  |
| 575000 | Baa3<sup>(b)</sup> | Skagit County Public Hospital District No 1, Revenue Bonds, 5.500% due 12/1/54 | 590672  |
|  |  | State of Washington, GO: <br>|  |
| 430000 | AA+ | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 8/1/32 | 447117  |
| 4000000 | AA+ | &nbsp;&nbsp;&nbsp; Series A3, 5.000% due 8/1/45 | 4295561  |
| 2500000 | AA+ | &nbsp;&nbsp;&nbsp; Series B, 5.000% due 6/1/44 | 2714079  |
| 355000 | AA+ | &nbsp;&nbsp;&nbsp; Series R2018C, 5.000% due 8/1/30 | 369587  |
| 640000 | AA+ | &nbsp;&nbsp;&nbsp; Series R2018D, 5.000% due 8/1/33 | 664839  |
| 1375000 | AA+ | &nbsp;&nbsp;&nbsp; Series R2024C, 5.000% due 8/1/37 | 1598884  |
| 1800000 | AA+ | &nbsp;&nbsp;&nbsp; Series R2025B, 5.000% due 7/1/29 | 1967409  |
| 1000000 | BBB- | Washington State Convention Center Public Facilities District, Revenue Bonds, Series B, 3.000% due 7/1/48 | 745488  |
|  |  | Washington State Housing Finance Commission, Revenue Bonds: <br>|  |
| 1000000 | BBB- | &nbsp;&nbsp;&nbsp; 5.500% due 7/1/59 | 997821  |
| 500000 | BBB | &nbsp;&nbsp;&nbsp; 6.250% due 7/1/59<sup>(c)</sup> | 534417  |
| 1000000 | AA | &nbsp;&nbsp;&nbsp; Series A, 5.250% due 7/1/55<sup>(c)</sup> | 1027284  |
|  |  | Total Washington | 21712228  |
| **Wisconsin – 1.4%**  | **Wisconsin – 1.4%**  | **Wisconsin – 1.4%**  | **Wisconsin – 1.4%**  |
| 680000 | Aa2<sup>(b)</sup> | City of Appleton WI Storm Water System Revenue, Revenue Bonds, 5.000% due 4/1/33 | 784060  |
| 1000000 | AA | Oshkosh Area School District, GO, 4.750% due 3/1/44 | 1038633  |

---

See Notes to Financial Statements.

263<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Municipal Fixed Income Fund(continued)** 

---

| | | | |
|:---|:---|:---|:---|
| **Face Amount/Units** | **Rating††** | **Security** | **Value**  |
| **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  | **MUNICIPAL BONDS – (continued)**  |
| **Wisconsin – (continued)**  | **Wisconsin – (continued)**  | **Wisconsin – (continued)**  | **Wisconsin – (continued)**  |
|  |  | Public Finance Authority, Revenue Bonds: <br>|  |
| $900000 | NR | &nbsp;&nbsp;&nbsp; zero coupon, due 12/15/39<sup>(c)</sup> | $375519  |
| 1000000 | NR | &nbsp;&nbsp;&nbsp; 4.250% due 7/1/54<sup>(a)</sup> | 854890  |
| 500000 | A-<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; 5.000% due 12/1/39<sup>(g)</sup> | 542815  |
| 1500000 | Baa3<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 5.750% due 12/31/65<sup>(a)</sup> | 1568733  |
| 500000 | NR | &nbsp;&nbsp;&nbsp; Series A, 5.000% due 6/1/36<sup>(c)</sup> | 500652  |
| 1000000 | BBB- | &nbsp;&nbsp;&nbsp; Series A, 5.750% due 7/1/53<sup>(c)</sup> | 996505  |
| 250000 | NR | &nbsp;&nbsp;&nbsp; Series A, 6.250% due 9/1/46<sup>(a)(c)</sup> | 259391  |
| 1000000 | NR | Public Finance Authority, Special Tax, Series A, 5.000% due 6/1/41<sup>(c)</sup> | 1022738  |
| 1000000 | AA | Wisconsin Health & Educational Facilities Authority, Revenue Bonds, 4.000% due 4/1/39 | 1002356  |
|  |  | Total Wisconsin | 8946292  |
|  |  | &nbsp;&nbsp;&nbsp; **TOTAL MUNICIPAL BONDS** <br>**(Cost – $562,745,015)** | **573853319**  |
| **Shares/Units** <br>|  |  |  |
| **EXCHANGE TRADED FUND (ETF) – 2.0%**  | **EXCHANGE TRADED FUND (ETF) – 2.0%**  | **EXCHANGE TRADED FUND (ETF) – 2.0%**  | **EXCHANGE TRADED FUND (ETF) – 2.0%**  |
| 256671 |  | &nbsp;&nbsp;&nbsp; Vanguard Tax-Exempt Bond Index<sup>(h)</sup><br>(Cost – $12,920,437) | 13128722  |
| **WARRANT – 0.0%**  | **WARRANT – 0.0%**  | **WARRANT – 0.0%**  | **WARRANT – 0.0%**  |
| **DIVERSIFIED – 0.0%**  | **DIVERSIFIED – 0.0%**  | **DIVERSIFIED – 0.0%**  | **DIVERSIFIED – 0.0%**  |
| **SPACs – 0.0%**  | **SPACs – 0.0%**  | **SPACs – 0.0%**  | **SPACs – 0.0%**  |
| 7808 |  | &nbsp;&nbsp;&nbsp; BL Train Holdings West LLC<sup>\*(i)(j)</sup><br>(Cost – $0) | 13664  |
|  |  | &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS** <br>**(Cost – $575,665,452)** | **586995705**  |
| **Face Amount** <br>|  |  |  |
| **SHORT-TERM INVESTMENTS – 7.9%**  | **SHORT-TERM INVESTMENTS – 7.9%**  | **SHORT-TERM INVESTMENTS – 7.9%**  | **SHORT-TERM INVESTMENTS – 7.9%**  |
| **MUNICIPAL BONDS – 0.6%**  | **MUNICIPAL BONDS – 0.6%**  | **MUNICIPAL BONDS – 0.6%**  | **MUNICIPAL BONDS – 0.6%**  |
| $1500000 |  | Monmouth County Improvement Authority, Revenue Notes, 4.000% due 3/12/27 | 1526094  |
| 2000000 |  | PMA Levy & Aid Anticipation Notes Program, Revenue Notes, Series A, 5.000% due 9/24/26 | 2026177  |
|  |  | &nbsp;&nbsp;&nbsp; **TOTAL MUNICIPAL BONDS** <br>**(Cost – $3,552,718)** | **3552271**  |
| **TIME DEPOSITS – 7.3%**  | **TIME DEPOSITS – 7.3%**  | **TIME DEPOSITS – 7.3%**  | **TIME DEPOSITS – 7.3%**  |
| 26774108 |  | JPMorgan Chase & Co. - New York, 2.980% due 3/2/26 | 26774108  |
| 765245 |  | Skandinaviska Enskilda Banken AB - Stockholm, 2.980% due 3/2/26 | 765245  |
| 19049601 |  | Sumitomo Mitsui Banking Corp. - Tokyo, 2.980% due 3/2/26 | 19049601  |
|  |  | &nbsp;&nbsp;&nbsp; **TOTAL TIME DEPOSITS** <br>**(Cost – $46,588,954)** | **46588954**  |
|  |  | &nbsp;&nbsp;&nbsp; **TOTAL SHORT-TERM INVESTMENTS** <br>**(Cost – $50,141,672)** | **50141225** |

---

See Notes to Financial Statements.

264<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Municipal Fixed Income Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units**  | **Security** | **Value** |
| **INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 2.1%**  | **INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 2.1%**  | **INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 2.1%**  |
| **MONEY MARKET FUND – 2.1%**  | **MONEY MARKET FUND – 2.1%**  | **MONEY MARKET FUND – 2.1%**  |
| 13214025 | &nbsp;&nbsp;&nbsp; Federated Government Obligations Fund, Premier Class, 3.593%<sup>(k)</sup> <br>(Cost – $13,214,025) | $13214025  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS – 102.0%** <br>**(Cost – $639,021,149)** | **650350955**  |
|  | Liabilities in Excess of Other Assets – (2.0)% | (12484977)  |
|  | **TOTAL NET ASSETS – 100.0%** | **$637865978**  |

---

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

\* Non-income producing security.

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

&nbsp;&nbsp;&nbsp;&nbsp;(b) Rating by Moody's Investors Service. All
 ratings are unaudited.

&nbsp;&nbsp;&nbsp;&nbsp;(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 February 28, 2026, amounts to $48,643,091 and represents 7.63% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Variable rate security. Interest rate disclosed
 is that which was in effect at February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Rating by Fitch Ratings Service. All ratings are
 unaudited.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Pre-refunded bonds are escrowed with government
 obligations and/or government agency securities and are considered by the Manager to be triple-A rated even if the issuer has not applied
 for new ratings.

&nbsp;&nbsp;&nbsp;&nbsp;(g) When-Issued or delayed delivery security.

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

&nbsp;&nbsp;&nbsp;&nbsp;(i) Illiquid security. The aggregate value of illiquid
 holdings at February 28, 2026, amounts to $13,664 and represents 0.00% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(j) Security is valued in good faith at fair value
 by or under the direction of the Board of Trustees using significant unobservable inputs.

&nbsp;&nbsp;&nbsp;&nbsp;(k) Represents investment of collateral received from
 securities lending transactions.

<u>Abbreviations used in this schedule:</u>

AGM — Assured Guaranty Municipal Corporation

COP — Certificate of Participation

GO — General Obligation

LLC — Limited Liability Company

MTA — Metropolitan Transportation Authority

PSF-GTD — Permanent School Fund Guaranteed

See Notes to Financial Statements.

265<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Municipal Fixed Income Fund(concluded)** 

**<u>Summary of Investments by Security Industry^</u>** 

---

| | |
|:---|:---|
| General Obligation | 35.3%  |
| Education | 14.5  |
| Water and Sewer | 6.6  |
| Health Care Providers & Services | 6.4  |
| Airport | 6.2  |
| Development | 5.3  |
| Transportation | 4.2  |
| Multifamily Housing | 1.9  |
| Power | 1.6  |
| Nursing Homes | 1.2  |
| Utilities | 1.0  |
| Tobacco Settlement | 1.0  |
| Bond Bank | 0.8  |
| Housing | 0.8  |
| Single Family Housing | 0.8  |
| Student Loan | 0.4  |
| Mello-Roos | 0.2  |
| Facilities | 0.1  |
| Exchange Traded Fund (ETF) | 2.0  |
| Warrant | 0.0<sup>\*</sup>  |
| Short-Term Investments | 7.7  |
| Money Market Fund | 2.0  |
|  | 100.0% |

---

---

| | |
|:---|:---|
| ^<br>| As a percentage of total investments.<br>|

---

\* Position represents less than 0.05%.

See Notes to Financial Statements.

266<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Multi Strategy Alternatives Fund** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 22.0%**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – 22.0%**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – 22.0%**  |
| **Mortgage Securities – 22.0%**  | **Mortgage Securities – 22.0%**  | **Mortgage Securities – 22.0%**  |
| $624529 | &nbsp;&nbsp;&nbsp; Adjustable Rate Mortgage Trust, Series 2005-2, Class 6M2, 4.768% <br>(1-Month TSFR + 1.094%) due 6/25/35<sup>(a)</sup> | $631789  |
| 305755 | Bear Stearns ALT-A Trust, Series 2006-8, Class 3A1, 4.108% (1-Month TSFR + 0.434%) due 2/25/34<sup>(a)</sup> | 292032  |
|  | Citigroup Commercial Mortgage Trust:<br>|  |
| 5890000 | &nbsp;&nbsp;&nbsp; Series 2015-GC35, Class AS, 4.072% due 11/10/48<sup>(a)</sup> | 5576116  |
| 5000000 | &nbsp;&nbsp;&nbsp; Series 2017-P8, Class AS, 3.789% due 9/15/50<sup>(a)</sup> | 4745545  |
| 7534847 | Connecticut Avenue Securities Trust, Series 2019-HRP1, Class B1, 13.032% (SOFR30A + 9.364%) due 11/25/39<sup>(a)(b)</sup> | 7919401  |
| 7728558 | CSAIL Commercial Mortgage Trust, Series 2017-CX10, Class AS, 3.670% due 11/15/50<sup>(a)</sup> | 7480662  |
| 2924174 | Deutsche Alternative-A Securities Mortgage Loan Trust, Series 2007-OA5, Class A1A, 4.188% (1-Month TSFR + 0.514%) due 8/25/47<sup>(a)</sup> | 2741110  |
|  | Federal National Mortgage Association (FNMA), Connecticut Avenue Securities:<br>|  |
| 3375330 | &nbsp;&nbsp;&nbsp; Series 2016-C02, Class 1B, 16.032% (SOFR30A + 12.364%) due 9/25/28<sup>@(a)</sup> | 3400129  |
| 687944 | &nbsp;&nbsp;&nbsp; Series 2016-C03, Class 2M2, 9.682% (SOFR30A + 6.014%) due 10/25/28<sup>@(a)</sup> | 691271  |
| 1253359 | &nbsp;&nbsp;&nbsp; Series 2016-C04, Class 1B, 14.032% (SOFR30A + 10.364%) due 1/25/29<sup>@(a)</sup> | 1294959  |
| 4613154 | &nbsp;&nbsp;&nbsp; Series 2016-C06, Class 1B, 13.032% (SOFR30A + 9.364%) due 4/25/29<sup>@(a)</sup> | 4826594  |
| 1841656 | &nbsp;&nbsp;&nbsp; FNBA Mortgage Loan Trust, Series 2004-AR1, Class M2, 5.431% <br>(1-Month TSFR + 1.764%) due 8/19/34<sup>(a)</sup> | 2076540  |
|  | Freddie Mac STACR REMIC Trust:<br>|  |
| 5438000 | &nbsp;&nbsp;&nbsp; Series 2020-DNA1, Class B2, 9.032% (SOFR30A + 5.364%) due 1/25/50<sup>(a)(b)</sup> | 6091749  |
| 1500000 | &nbsp;&nbsp;&nbsp; Series 2020-DNA6, Class B2, 9.317% (SOFR30A + 5.650%) due 12/25/50<sup>(a)(b)</sup> | 1747571  |
| 1280000 | &nbsp;&nbsp;&nbsp; Series 2020-HQA3, Class B2, 13.782% (SOFR30A + 10.114%) due 7/25/50<sup>(a)(b)</sup> | 1691200  |
| 1260000 | &nbsp;&nbsp;&nbsp; Series 2020-HQA4, Class B2, 13.182% (SOFR30A + 9.514%) due 9/25/50<sup>(a)(b)</sup> | 1645094  |
|  | Freddie Mac STACR Trust:<br>|  |
| 4870000 | &nbsp;&nbsp;&nbsp; Series 2019-DNA3, Class B2, 11.932% (SOFR30A + 8.264%) due 7/25/49<sup>(a)(b)</sup> | 5474287  |
| 4588000 | &nbsp;&nbsp;&nbsp; Series 2019-DNA4, Class B2, 10.032% (SOFR30A + 6.364%) due 10/25/49<sup>(a)(b)</sup> | 5069815  |
| 5800000 | &nbsp;&nbsp;&nbsp; Series 2019-FTR1, Class B2, 12.132% (SOFR30A + 8.464%) due 1/25/48<sup>(a)(b)</sup> | 6918144  |
| 4030000 | &nbsp;&nbsp;&nbsp; Series 2019-HQA1, Class B2, 16.032% (SOFR30A + 12.364%) due 2/25/49<sup>(a)(b)</sup> | 4900228  |
| 3100000 | &nbsp;&nbsp;&nbsp; Series 2019-HRP1, Class B1, 7.832% (SOFR30A + 4.164%) due 2/25/49<sup>(a)(b)</sup> | 3375143  |
| 4290000 | Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2017-HQA3, Class B1, 8.232% (SOFR30A + 4.564%) due 4/25/30<sup>@(a)</sup> | 4536675  |
| 1993000 | JP Morgan Chase Commercial Mortgage Securities Trust, Series 2016-JP2, Class AS, 3.056% due 8/15/49 | 1937422  |
|  | JPMBB Commercial Mortgage Securities Trust:<br>|  |
| 1390000 | &nbsp;&nbsp;&nbsp; Series 2014-C25, Class AS, 4.065% due 11/15/47 | 1348314  |
| 9209944 | &nbsp;&nbsp;&nbsp; Series 2015-C32, Class AS, 3.984% due 11/15/48 | 8353419  |
| 3000000 | SG Commercial Mortgage Securities Trust, Series 2016-C5, Class AM, 3.379% due 10/10/48 | 2939995  |
|  | STACR Trust:<br>|  |
| 2772556 | &nbsp;&nbsp;&nbsp; Series 2018-HRP1, Class B1, 7.532% (SOFR30A + 3.864%) due 4/25/43<sup>(a)(b)</sup> | 2862440  |
| 4672814 | &nbsp;&nbsp;&nbsp; Series 2018-HRP1, Class B2, 15.532% (SOFR30A + 11.864%) due 5/25/43<sup>(a)(b)</sup> | 5480935  |

---

See Notes to Financial Statements.

267<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Multi Strategy Alternatives Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  | **COLLATERALIZED MORTGAGE OBLIGATIONS – (continued)**  |
| **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  | **Mortgage Securities – (continued)**  |
| $8098000 | Wells Fargo Commercial Mortgage Trust, Series 2017-RB1, Class A5, 3.635% due 3/15/50 | $7959110  |
| 3266523 | WFRBS Commercial Mortgage Trust, Series 2014-C22, Class AS, 4.069% due 9/15/57<sup>(a)</sup> | 3119366  |
|  | Total Mortgage Securities | 117127055  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS**<br>**(Cost – $112,778,620)** | **117127055**  |
| **ASSET-BACKED SECURITIES – 11.3%**  | **ASSET-BACKED SECURITIES – 11.3%**  | **ASSET-BACKED SECURITIES – 11.3%**  |
| **Automobile ABS – 6.7%**  | **Automobile ABS – 6.7%**  | **Automobile ABS – 6.7%**  |
| 1839860 | BMW Vehicle Owner Trust, Series 2025-A, Class A2A, 4.430% due 10/25/27 | 1842233  |
| 1435805 | Carmax Auto Owner Trust, Series 2025-1, Class A2A, 4.630% due 3/15/28 | 1438545  |
| 89846 | Exeter Automobile Receivables Trust, Series 2023-5A, Class B, 6.580% due 4/17/28 | 89956  |
| 1175943 | Ford Credit Auto Owner Trust, Series 2023-B, Class A3, 5.230% due 5/15/28 | 1182027  |
|  | GM Financial Consumer Automobile Receivables Trust:<br>|  |
| 1414018 | &nbsp;&nbsp;&nbsp; Series 2023-1, Class A3, 4.660% due 2/16/28 | 1417400  |
| 939238 | &nbsp;&nbsp;&nbsp; Series 2025-1, Class A2A, 4.440% due 1/18/28 | 940301  |
|  | Honda Auto Receivables Owner Trust:<br>|  |
| 729775 | &nbsp;&nbsp;&nbsp; Series 2024-1, Class A3, 5.210% due 8/15/28 | 735883  |
| 14000000 | &nbsp;&nbsp;&nbsp; Series 2026-1, Class A2A, 3.710% due 9/21/28 | 13991590  |
| 1935459 | Hyundai Auto Receivables Trust, Series 2023-B, Class A3, 5.480% due 4/17/28 | 1947648  |
| 1587011 | Mercedes-Benz Auto Receivables Trust, Series 2024-1, Class A3, 4.800% due 4/16/29 | 1597192  |
| 1317725 | Toyota Auto Receivables Owner Trust, Series 2022-A, Class A4, 1.540% due 5/17/27 | 1315981  |
|  | World Omni Auto Receivables Trust:<br>|  |
| 966810 | &nbsp;&nbsp;&nbsp; Series 2025-A, Class A2A, 4.490% due 4/17/28 | 967952  |
| 8000000 | &nbsp;&nbsp;&nbsp; Series 2025-D, Class A2A, 3.910% due 2/15/29 | 8006040  |
|  | Total Automobile ABS | 35472748  |
| **Home Equity ABS – 3.9%**  | **Home Equity ABS – 3.9%**  | **Home Equity ABS – 3.9%**  |
| 473343 | &nbsp;&nbsp;&nbsp; Aames Mortgage Investment Trust, Series 2005-4, Class M3, 4.568% <br>(1-Month TSFR + 0.894%) due 10/25/35<sup>(a)</sup> | 471570  |
| 3173956 | ABFC Trust, Series 2003-OPT1, Class A3, 4.468% (1-Month TSFR + 0.794%) due 4/25/33<sup>(a)</sup> | 3194763  |
| 541259 | Asset Backed Securities Corp. Home Equity Loan Trust, Series 2007-HE1, Class A4, 3.684% (1-Month TSFR + 0.394%) due 12/25/36<sup>(a)</sup> | 537017  |
| 959430 | &nbsp;&nbsp;&nbsp; Ellington Loan Acquisition Trust, Series 2007-1, Class A1, 4.888% <br>(1-Month TSFR + 1.214%) due 5/25/37<sup>(a)(b)</sup> | 947369  |
| 2008352 | &nbsp;&nbsp;&nbsp; EquiFirst Mortgage Loan Trust, Series 2003-2, Class 1A1, 4.899% <br>(1-Month TSFR + 1.239%) due 9/25/33<sup>(a)</sup> | 2004461  |
| 3211553 | &nbsp;&nbsp;&nbsp; Fremont Home Loan Trust, Series 2003-A, Class M1, 4.763% <br>(1-Month TSFR + 1.089%) due 8/25/33<sup>(a)</sup> | 3562426  |
| 1014582 | &nbsp;&nbsp;&nbsp; Mastr Asset Backed Securities Trust, Series 2004-WMC1, Class M1, 4.568% <br>(1-Month TSFR + 0.894%) due 2/25/34<sup>(a)</sup> | 1098421  |

---

See Notes to Financial Statements.

268<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Multi Strategy Alternatives Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Face Amount/Units** | **Security** | **Value**  |
| **ASSET-BACKED SECURITIES – (continued)**  | **ASSET-BACKED SECURITIES – (continued)**  | **ASSET-BACKED SECURITIES – (continued)**  |
| **Home Equity ABS – (continued)**  | **Home Equity ABS – (continued)**  | **Home Equity ABS – (continued)**  |
| $960639 | Merrill Lynch Mortgage Investors Trust, Series 2006-OPT1, Class A2C, 4.088% (1-Month TSFR + 0.414%) due 8/25/37<sup>(a)</sup> | $929378  |
| 3256825 | Park Place Securities Inc. Asset-Backed Pass-Through Certificates, Series 2005-WCH1, Class M5, 5.108% (1-Month TSFR + 1.434%) due 1/25/36<sup>(a)</sup> | 3169839  |
| 2117002 | &nbsp;&nbsp;&nbsp; Structured Asset Investment Loan Trust, Series 2004-2, Class A4, 4.493% <br>(1-Month TSFR + 0.819%) due 3/25/34<sup>(a)</sup> | 2269350  |
| 364081 | Structured Asset Securities Corp. Mortgage Loan Trust, Series 2007-BC3, Class 2A3, 3.968% (1-Month TSFR + 0.294%) due 5/25/47<sup>(a)</sup> | 359581  |
| 2465000 | Terwin Mortgage Trust, Series 2006-7, Class 1A2C, 4.328% (1-Month TSFR + 0.654%) due 7/25/37<sup>(a)(b)</sup> | 2298648  |
|  | Total Home Equity ABS | 20842823  |
| **WL Collateral CMO – 0.7%**  | **WL Collateral CMO – 0.7%**  | **WL Collateral CMO – 0.7%**  |
| 1597888 | Ramp Trust, Series 2004-RS8, Class MII2, 5.257% (1-Month TSFR + 1.839%) due 8/25/34<sup>(a)</sup> | 1619929  |
| 1899049 | Specialty Underwriting & Residential Finance Trust, Series 2004-BC1, Class M1, 4.553% (1-Month TSFR + 0.879%) due 2/25/35<sup>(a)</sup> | 2023555  |
|  | Total WL Collateral CMO | 3643484  |
|  | **TOTAL ASSET-BACKED SECURITIES**<br>|  |
|  | &nbsp;&nbsp;&nbsp; (Cost – $59,041,018) | **59959055**  |
| **COLLATERALIZED LOAN OBLIGATIONS – 1.1%**  | **COLLATERALIZED LOAN OBLIGATIONS – 1.1%**  | **COLLATERALIZED LOAN OBLIGATIONS – 1.1%**  |
| **Other ABS – 1.1%**  | **Other ABS – 1.1%**  | **Other ABS – 1.1%**  |
| 5000000 | &nbsp;&nbsp;&nbsp; Anchorage Capital CLO 18 Ltd., Series 2021-18A, Class A1, 5.084% <br>(3-Month TSFR + 1.412%) due 4/15/34<sup>(a)(b)</sup> | 5006246  |
| 380000 | &nbsp;&nbsp;&nbsp; Steele Creek CLO Ltd., Series 2016-1A, Class ER, 9.735% (3-Month TSFR + 6.012%) <br>due 6/15/31<sup>(a)(b)</sup> | 211500  |
| 1066684 | &nbsp;&nbsp;&nbsp; Venture XVIII CLO Ltd., Series 2014-18A, Class ER, 10.524% <br>(3-Month TSFR + 6.852%) due 10/15/29<sup>(a)(b)</sup> | 474954  |
|  | Total Other ABS | 5692700  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL COLLATERALIZED LOAN OBLIGATIONS**<br>**(Cost – $6,154,205)** | **5692700**  |
| **Shares/Units**<br>|  |  |
| **COMMON STOCKS – 16.6%**  | **COMMON STOCKS – 16.6%**  | **COMMON STOCKS – 16.6%**  |
| **CONSUMER CYCLICAL – 0.8%**  | **CONSUMER CYCLICAL – 0.8%**  | **CONSUMER CYCLICAL – 0.8%**  |
| **Entertainment – 0.8%**  | **Entertainment – 0.8%**  | **Entertainment – 0.8%**  |
| 64905 | Golden Entertainment Inc. | 1875754  |
| 161554 | Penn Entertainment Inc.<sup>\*</sup> | 2526705  |
|  | Total Entertainment | 4402459  |
|  | **TOTAL CONSUMER CYCLICAL** | **4402459** |

---

See Notes to Financial Statements.

269<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Multi Strategy Alternatives Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units**  | **Security**  | **Value**  |
| **CONSUMER NON-CYCLICAL – 2.9%**  | **CONSUMER NON-CYCLICAL – 2.9%**  | **CONSUMER NON-CYCLICAL – 2.9%**  |
| **Biotechnology – 2.0%**  | **Biotechnology – 2.0%**  | **Biotechnology – 2.0%**  |
| 2200 | Apogee Therapeutics Inc.<sup>\*</sup> | $154000  |
| 15416 | Crinetics Pharmaceuticals Inc.<sup>\*</sup> | 633598  |
| 14085 | Septerna Inc.<sup>\*</sup> | 408747  |
| 7098 | Viridian Therapeutics Inc.<sup>\*</sup> | 208539  |
| 205562 | Xenon Pharmaceuticals Inc.<sup>\*</sup> | 8886445  |
|  | Total Biotechnology | 10291329  |
| **Commercial Services – 0.9%**  | **Commercial Services – 0.9%**  | **Commercial Services – 0.9%**  |
| 227395 | WillScot Holdings Corp. | 4914006  |
|  | **TOTAL CONSUMER NON-CYCLICAL** | **15205335**  |
| **DIVERSIFIED – 8.5%**  | **DIVERSIFIED – 8.5%**  | **DIVERSIFIED – 8.5%**  |
| **SPACs – 8.5%** <br>|  |  |
| 174682 | Apex Treasury Corp., Class A Shares<sup>\*</sup> | 1732845  |
| 406488 | Archimedes Tech SPAC Partners II Co.<sup>\*</sup> | 4280319  |
| 474136 | Bold Eagle Acquisition Corp., Class A Shares<sup>\*</sup> | 4987911  |
| 70586 | BTC Development Corp., Class A Shares<sup>\*</sup> | 707978  |
| 63886 | Cantor Equity Partners III Inc., Class A Shares<sup>\*</sup> | 654831  |
| 35001 | Cantor Equity Partners V Inc., Class A Shares<sup>\*</sup> | 355260  |
| 15608 | Churchill Capital Corp. XI<sup>\*</sup> | 160294  |
| 208042 | Daedalus Special Acquisition Corp.\*<sup>(c)</sup> | 2099144  |
| 209974 | Dynamix Corp. III, Class A Shares<sup>\*</sup> | 2082942  |
| 138902 | Galata Acquisition Corp. II, Class A Shares\*<sup>(c)</sup> | 1391798  |
| 213051 | Gesher Acquisition Corp. II, Class A Shares\*<sup>(c)</sup> | 2209339  |
| 33162 | HCM III Acquisition Corp., Class A Shares<sup>\*</sup> | 336263  |
| 332626 | Highview Merger Corp., Class A Shares<sup>\*</sup> | 3352870  |
| 34952 | Insight Digital Partners II, Class A Shares<sup>\*</sup> | 347423  |
| 511975 | K&F Growth Acquisition Corp. II, Class A Shares<sup>\*(c)</sup> | 5319420  |
| 258430 | Legato Merger Corp. IV<sup>\*</sup> | 2586884  |
| 265063 | NewHold Investment Corp. III, Class A Shares<sup>\*</sup> | 2756655  |
| 479838 | Oaktree Acquisition Corp. III Life Sciences, Class A Shares\*<sup>(c)</sup> | 5071888  |
| 210105 | OneIM Acquisition Corp.<sup>\*</sup> | 2124162  |
| 222075 | Willow Lane Acquisition Corp., Class A Shares<sup>\*</sup> | 2369540  |
|  | Total SPACs | 44927766  |
|  | **TOTAL DIVERSIFIED** | **44927766**  |
| **FINANCIAL – 2.2%**  | **FINANCIAL – 2.2%**  | **FINANCIAL – 2.2%**  |
| **Banks – 0.6%**  | **Banks – 0.6%**  | **Banks – 0.6%**  |
| 256100 | Blue Foundry Bancorp<sup>\*</sup> | 3375398  |
| **Diversified Financial Services – 0.9%**  | **Diversified Financial Services – 0.9%**  | **Diversified Financial Services – 0.9%**  |
| 242691 | Jefferson Capital Inc. | 5006715  |
| **Investment Companies – 0.7%**  | **Investment Companies – 0.7%**  | **Investment Companies – 0.7%**  |
| 290604 | Cannae Holdings Inc. | 3545369  |
|  | **TOTAL FINANCIAL** | **11927482**  |

---

See Notes to Financial Statements.

270<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Multi Strategy Alternatives Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units**  | **Security**  | **Value**  |
| **INDUSTRIAL – 1.9%**  | **INDUSTRIAL – 1.9%**  | **INDUSTRIAL – 1.9%**  |
| **Metal Fabricate/Hardware – 1.0%**  | **Metal Fabricate/Hardware – 1.0%**  | **Metal Fabricate/Hardware – 1.0%**  |
| 658377 | Hillman Solutions Corp.<sup>\*</sup> | $5398692  |
| **Transportation – 0.9%**  | **Transportation – 0.9%**  | **Transportation – 0.9%**  |
| 72946 | GXO Logistics Inc.<sup>\*</sup> | 4583197  |
|  | **TOTAL INDUSTRIAL** | **9981889**  |
| **TECHNOLOGY – 0.3%**  | **TECHNOLOGY – 0.3%**  | **TECHNOLOGY – 0.3%**  |
| **Software – 0.3%** <br>|  |  |
| 205250 | Porch Group Inc.<sup>\*</sup> | 1685102  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS**<br>**(Cost – $87,303,186)** | **88130033**  |
| **OPEN-END FUND – 14.1%**  | **OPEN-END FUND – 14.1%**  | **OPEN-END FUND – 14.1%**  |
| 6534718 | &nbsp;&nbsp;&nbsp; JPMorgan Strategic Income Opportunities Fund, Class R6 Shares<br>(Cost – $74,544,504) | 74757171  |
| **EXCHANGE TRADED FUND (ETF) – 4.3%**  | **EXCHANGE TRADED FUND (ETF) – 4.3%**  | **EXCHANGE TRADED FUND (ETF) – 4.3%**  |
| 837887 | &nbsp;&nbsp;&nbsp; Franklin Systematic Style Premia<br>(Cost – $22,974,862) | 23167575  |
| **WARRANTS – 0.2%**  | **WARRANTS – 0.2%**  | **WARRANTS – 0.2%**  |
| **DIVERSIFIED – 0.2%**  | **DIVERSIFIED – 0.2%**  | **DIVERSIFIED – 0.2%**  |
| **SPACs – 0.2%** <br>|  |  |
| 87341 | Apex Treasury Corp.<sup>\*(c)</sup> | 20962  |
| 203244 | Archimedes Tech SPAC Partners II Co.<sup>\*(c)</sup> | 115991  |
| 133619 | Berto Acquisition Corp.<sup>\*(c)</sup> | 41422  |
| 468723 | Bridger Aerospace Group Holdings Inc.<sup>\*(c)</sup> | 234127  |
| 17646 | BTC Development Corp.<sup>\*(c)</sup> | 7291  |
| 556875 | Calidi Biotherapeutics Inc.<sup>\*(c)</sup> | 3341  |
| 104987 | Dynamix Corp. III<sup>\*(c)</sup> | 34646  |
| 46300 | Galata Acquisition Corp. II<sup>\*(c)</sup> | 14821  |
| 106525 | Gesher Acquisition Corp. II<sup>\*(c)</sup> | 27803  |
| 146171 | Haymaker Acquisition Corp. 4<sup>\*(c)</sup> | 211948  |
| 11054 | HCM III Acquisition Corp.<sup>\*(c)</sup> | 6743  |
| 166313 | Highview Merger Corp.<sup>\*(c)</sup> | 39965  |
| 17476 | Insight Digital Partners II<sup>\*(c)</sup> | 5208  |
| 131807 | Inspirato Inc.<sup>\*(d)</sup> | 870  |
| 132531 | NewHold Investment Corp. III<sup>\*(c)</sup> | 57359  |
| 100093 | Oaktree Acquisition Corp. III Life Sciences<sup>\*(c)</sup> | 50057  |
| 358816 | Pagaya Technologies Ltd.<sup>\*(c)</sup> | 41264  |
| 77310 | SomaLogic Inc.<sup>\*(c)(d)</sup> | 7808  |
|  | Total SPACs | 921626  |
|  | **TOTAL DIVERSIFIED** | **921626**  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL WARRANTS**<br>**(Cost – $1,626,883)** | **921626**  |

---

See Notes to Financial Statements.

271<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Multi Strategy Alternatives Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units**  | **Security**  | **Value**  |
| **RIGHTS – 0.0%** <br>|  |  |
| 667287 | Bold Eagle Acquisition Corp.<sup>\*(c)</sup> | $193513  |
| 611174 | K&F Growth Acquisition Corp. II<sup>\*(c)</sup> | 110012  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL RIGHTS**<br>**(Cost – $232,027)** | **303525**  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS**<br>**(Cost – $364,655,305).** | **370058740**  |
| **Face Amount**<br>|  |  |
| **SHORT-TERM INVESTMENTS – 26.0%**  | **SHORT-TERM INVESTMENTS – 26.0%**  | **SHORT-TERM INVESTMENTS – 26.0%**  |
| **TIME DEPOSITS – 26.0%**  | **TIME DEPOSITS – 26.0%**  | **TIME DEPOSITS – 26.0%**  |
| $79205643 | Citibank – New York, 2.980% due 3/2/26 | 79205643  |
| 58877282 | JPMorgan Chase & Co. – New York, 2.980% due 3/2/26 | 58877282  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL TIME DEPOSITS**<br>**(Cost – $138,082,925)** | **138082925**  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS – 95.6%**<br>**(Cost – $502,738,230)** | **508141665**  |
|  | Other Assets in Excess of Liabilities – 4.4% | 23489059  |
|  | **TOTAL NET ASSETS – 100.0%** | **$531630724** |

---

\* Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(a) Variable rate security. Interest rate disclosed
 is that which was in effect at February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(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 February 28, 2026, amounts to $62,114,724 and represents 11.68% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Illiquid security. The aggregate value of illiquid
 holdings at February 28, 2026, amounts to $17,315,870 and represents 3.26% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Security is valued in good faith at fair value
 by or under the direction of the Board of Trustees using significant unobservable inputs.

@ Restricted security – Investment in security not registered under the Securities Act of 1933. The investment is deemed to not be liquid and may be sold only to qualified buyers.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Security**  | **First** <br>**Acquisition** <br>**Date**  | **First** <br>**Acquisition** <br>**Cost**  | **Market** <br>**Value**  | **Percent of** <br>**Net Assets**  |
|  Federal National Mortgage Association (FNMA), Connecticut Avenue Securities: <br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016-C02, Class 1B, 16.032% (SOFR30A + 12.364%) due 9/25/28 | 8/10/2021 | $537977 | $3400129 | &nbsp;&nbsp;&nbsp; 0.64%  |
| &nbsp;&nbsp;&nbsp; Series 2016-C03, Class 2M2, 9.682% (SOFR30A + 6.014%) due 10/25/28 | 3/17/2020 | 2941204 | 691271 | &nbsp;&nbsp;&nbsp; 0.13%  |
| &nbsp;&nbsp;&nbsp; Series 2016-C04, Class 1B, 14.032% (SOFR30A + 10.364%) due 1/25/29 | 4/13/2022 | 1355446 | 1294959 | &nbsp;&nbsp;&nbsp; 0.24%  |
| &nbsp;&nbsp;&nbsp; Series 2016-C06, Class 1B, 13.032% (SOFR30A + 9.364%) due 4/25/29 | 3/11/2022 | 2850909 | 4826594 | &nbsp;&nbsp;&nbsp; 0.91%  |
| &nbsp;&nbsp;&nbsp; Freddie Mac Structured Agency Credit Risk Debt Notes: <br>Series 2017-HQA3, Class B1, 8.232% (SOFR30A + 4.564%) due 4/25/30 | 4/29/2021 | 4504500 | 4536675 | &nbsp;&nbsp;&nbsp;&nbsp;0.85%  |
|  |  |  | **$14749628** | &nbsp;&nbsp;&nbsp;&nbsp;2.77% |

---

See Notes to Financial Statements.

272<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Multi Strategy Alternatives Fund(continued)** 

<u>Abbreviations used in this schedule:</u>

CLO — Collateralized Loan Obligation

LLC — Limited Liability Company

LP — Limited Partnership

PLC — Public Limited Company

REMIC — Real Estate Mortgage Investment Conduit

SOFR — Secured Overnight Financing Rate

SPACs — Special Purpose Acquisition Companies

TSFR — CME Term SOFR Reference Rate

**<u>Summary of Investments by Security Industry^</u>** 

---

| | |
|:---|:---|
| Collateralized Mortgage Obligations | 23.0%  |
| Common Stocks | 17.3  |
| Open-End Fund | 14.7  |
| Asset-Backed Securities | 11.8  |
| Exchange Traded Fund (ETF) | 4.6  |
| Collateralized Loan Obligations | 1.1  |
| Warrants | 0.2  |
| Rights | 0.1  |
| Short-Term Investments | 27.2  |
|  | 100.0% |

---

---

| | |
|:---|:---|
| ^<br>| As a percentage of total investments.<br>|

---

**OTC Total Return Swaps** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Currency** | **Notional** <br>**Amount** | **Maturity** <br>**Date** | **Counterparty** | **Payment** <br>**Frequency** | **Pay** | **Receive** | **Unrealized** <br>**Appreciation** <br>(Depreciation) |
| USD | 4739877 | 5/4/2026 | &nbsp;&nbsp;&nbsp; MSCS | &nbsp;&nbsp;&nbsp; 1-Month | &nbsp;&nbsp;&nbsp; USD-Federal Funds-H.15 - 36 bps | &nbsp;&nbsp;&nbsp; MSHEWSC Basket<sup>\*</sup> | &nbsp;&nbsp;&nbsp; $(28506)  |
| USD | 8834454 | 4/22/2026 | &nbsp;&nbsp;&nbsp; GSC | &nbsp;&nbsp;&nbsp; 3-month | &nbsp;&nbsp;&nbsp; USD-Federal Funds-H.15 - 115 bps | &nbsp;&nbsp;&nbsp; GSUCDHY1 Basket<sup>\*\*</sup> | &nbsp;&nbsp;&nbsp; (34546)  |
| USD | 2694563 | 5/4/2026 | &nbsp;&nbsp;&nbsp; MSCS | &nbsp;&nbsp;&nbsp; 1-Month | &nbsp;&nbsp;&nbsp; USD-Federal Funds-H.15 - 35 bps | &nbsp;&nbsp;&nbsp; MSDRCASI Basket<sup>\*\*\*</sup> | &nbsp;&nbsp;&nbsp; 73625  |
| USD | 21354474 | 5/4/2026 | &nbsp;&nbsp;&nbsp; MSCS | &nbsp;&nbsp;&nbsp; 1-Month | &nbsp;&nbsp;&nbsp; USD-Federal Funds-H.15 - 102 bps | &nbsp;&nbsp;&nbsp; MSXXBIOH Basket<sup>\*\*\*\*</sup> | &nbsp;&nbsp;&nbsp; 171183  |
|  |  |  |  |  |  |  | &nbsp;&nbsp;&nbsp; **$181756** |

---

\* MSHEWSC Basket consists of a portfolio of:

---

| | | | |
|:---|:---|:---|:---|
| **Security** | **Shares** | **Value as of** <br>**February 28, 2026** | **% of the Basket** |
| Comfort Systems USA Inc. | 1082 | &nbsp;&nbsp;&nbsp;&nbsp; $(2878) | &nbsp;&nbsp;&nbsp;&nbsp; 10.10%  |
| API Group Corp. | 24072 | &nbsp;&nbsp;&nbsp;&nbsp; (1990) | &nbsp;&nbsp;&nbsp;&nbsp; 6.98%  |
| United Rentals Inc. | 1226 | &nbsp;&nbsp;&nbsp;&nbsp; (1915) | &nbsp;&nbsp;&nbsp;&nbsp; 6.72%  |
| Ferguson Enterprises Inc. | 3835 | &nbsp;&nbsp;&nbsp;&nbsp; (1859) | &nbsp;&nbsp;&nbsp;&nbsp; 6.52%  |
| MasTec Inc. | 3292 | &nbsp;&nbsp;&nbsp;&nbsp; (1825) | &nbsp;&nbsp;&nbsp;&nbsp; 6.40%  |
| Ryder System Inc. | 3808 | &nbsp;&nbsp;&nbsp;&nbsp; (1569) | &nbsp;&nbsp;&nbsp;&nbsp; 5.50%  |
| SiteOne Landscape Supply Inc. | 5829 | &nbsp;&nbsp;&nbsp;&nbsp; (1549) | &nbsp;&nbsp;&nbsp;&nbsp; 5.43%  |
| Quanta Services Inc. | 1473 | &nbsp;&nbsp;&nbsp;&nbsp; (1542) | &nbsp;&nbsp;&nbsp;&nbsp; 5.41%  |
| McGrath RentCorp. | 6888 | &nbsp;&nbsp;&nbsp;&nbsp; (1421) | &nbsp;&nbsp;&nbsp;&nbsp; 4.99%  |
| AECOM | 6253 | &nbsp;&nbsp;&nbsp;&nbsp; (1139) | &nbsp;&nbsp;&nbsp;&nbsp; 4.00%  |
| MSC Industrial Direct Co., Inc. | 6203 | &nbsp;&nbsp;&nbsp;&nbsp; (1082) | &nbsp;&nbsp;&nbsp;&nbsp; 3.80%  |

---

See Notes to Financial Statements.

273<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Multi Strategy Alternatives Fund(continued)** 

---

| | | | |
|:---|:---|:---|:---|
| **Security** | **Shares** | **Value as of** <br>**February 28, 2026** | **% of the Basket** |
| Air Lease Corp. | 7787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(939) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.29%  |
| Genuine Parts Co. | 4010 | &nbsp;&nbsp;&nbsp;&nbsp;(889) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.12%  |
| Advanced Drainage Systems Inc. | 2741 | &nbsp;&nbsp;&nbsp;&nbsp;(873) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.06%  |
| Primoris Services Corp. | 2926 | &nbsp;&nbsp;&nbsp;&nbsp;(820) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%  |
| Pitney Bowes Inc. | 37435 | &nbsp;&nbsp;&nbsp;&nbsp;(747) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.62%  |
| Construction Partners Inc. | 2898 | &nbsp;&nbsp;&nbsp;&nbsp;(724) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.54%  |
| Sensata Technologies Holding PLC | 10134 | &nbsp;&nbsp;&nbsp;&nbsp;(704) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.47%  |
| Fluor Corp. | 6927 | &nbsp;&nbsp;&nbsp;&nbsp;(674) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.36%  |
| Core & Main Inc. | 5806 | &nbsp;&nbsp;&nbsp;&nbsp;(585) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.05%  |
| Fastenal Co. | 6406 | &nbsp;&nbsp;&nbsp;&nbsp;(548) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.92%  |
| AerCap Holdings NV | 1788 | &nbsp;&nbsp;&nbsp;&nbsp;(497) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.74%  |
| Terex Corp. | 3872 | &nbsp;&nbsp;&nbsp;&nbsp;(495) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.74%  |
| Stanley Black & Decker Inc. | 2340 | &nbsp;&nbsp;&nbsp;&nbsp;(376) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.32%  |
| Atkore Inc. | 2740 | &nbsp;&nbsp;&nbsp;&nbsp;(330) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.16%  |
| nVent Electric PLC | 1152 | &nbsp;&nbsp;&nbsp;&nbsp;(254) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.89%  |
| Builders FirstSource Inc. | 736 | &nbsp;&nbsp;&nbsp;&nbsp;(143) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.50%  |
| Trex Co., Inc. | 1802 | &nbsp;&nbsp;&nbsp;&nbsp;(139) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.49% |

---

\*\* GSUCDHY1 Basket consists of a portfolio of:

---

| | | | |
|:---|:---|:---|:---|
| **Security**  | **Shares**  | **Value as of** <br>**February 28, 2026**  | **% of the Basket**  |
| Asbury Automotive Group Inc. | 373426 | &nbsp;&nbsp;&nbsp;&nbsp; $(1437) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.17%  |
| Ardagh Metal Packaging Finance USA LLC | 373426 | &nbsp;&nbsp;&nbsp;&nbsp; (1437) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.17%  |
| Aramark Services Inc. | 373426 | &nbsp;&nbsp;&nbsp;&nbsp; (1437) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.17%  |
| Ball Corporation | 373426 | &nbsp;&nbsp;&nbsp;&nbsp; (1437) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.17%  |
| Bath & BodyWorks Inc. | 373426 | &nbsp;&nbsp;&nbsp;&nbsp; (1437) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.16%  |
| 1011778 B.C. Unlimited Liability Company | 373426 | &nbsp;&nbsp;&nbsp;&nbsp; (1437) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.16%  |
| Builders FirstSource Inc. | 373426 | &nbsp;&nbsp;&nbsp;&nbsp; (1437) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.16%  |
| Standard Building Solutions Inc. | 373426 | &nbsp;&nbsp;&nbsp;&nbsp; (1437) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.16%  |
| EMRLD Borrower LP | 373426 | &nbsp;&nbsp;&nbsp;&nbsp; (1437) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.16%  |
| Fertitta Entertainment LLC | 373426 | &nbsp;&nbsp;&nbsp;&nbsp; (1438) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.16%  |
| GFL Environment Inc. | 373426 | &nbsp;&nbsp;&nbsp;&nbsp; (1438) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.16%  |
| Chart Industries Inc. | 373426 | &nbsp;&nbsp;&nbsp;&nbsp; (1438) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.16%  |
| Hilton Domestic Operating Company Inc. | 373426 | &nbsp;&nbsp;&nbsp;&nbsp; (1438) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.16%  |
| Imola Merger Corp. | 373426 | &nbsp;&nbsp;&nbsp;&nbsp; (1438) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.16%  |
| Las Vegas Sands Corp. | 373426 | &nbsp;&nbsp;&nbsp;&nbsp; (1438) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.16%  |
| MGM Resorts International | 373426 | &nbsp;&nbsp;&nbsp;&nbsp; (1438) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.16%  |
| NCL Corporation Ltd. | 373426 | &nbsp;&nbsp;&nbsp;&nbsp; (1438) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.16%  |
| Rolls-Royce PLC | 373426 | &nbsp;&nbsp;&nbsp;&nbsp; (1438) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.16%  |
| Sensata Technologies BV | 373426 | &nbsp;&nbsp;&nbsp;&nbsp; (1438) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.16%  |
| Transdigm Inc. | 373426 | &nbsp;&nbsp;&nbsp;&nbsp; (1438) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.16%  |
| Viking Cruises Ltd. | 373425 | &nbsp;&nbsp;&nbsp;&nbsp; (1438) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.16%  |
| Wesco Distribution Inc. | 373425 | &nbsp;&nbsp;&nbsp;&nbsp; (1438) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.16%  |
| Wynn Las Vegas LLC | 373425 | &nbsp;&nbsp;&nbsp;&nbsp; (1438) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.16%  |
| Yum! Brands Inc. | 373425 | &nbsp;&nbsp;&nbsp;&nbsp; (1438) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.16%  |
| Weatherford International Ltd. | 11192 | &nbsp;&nbsp;&nbsp;&nbsp;(43) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.12% |

---

\*\*\* MSDRCASI Basket consists of a portfolio of:

See Notes to Financial Statements.

274<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Multi Strategy Alternatives Fund(continued)** 

---

| | | | |
|:---|:---|:---|:---|
| **Security**  | **Shares**  | **Value as of** <br>**February 28, 2026**  | **% of the Basket**  |
| Boyd Gaming Corp. | 15712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $8657 | &nbsp;&nbsp;&nbsp;&nbsp; 11.76%  |
| Travel + Leisure Co. | 13167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6424 | &nbsp;&nbsp;&nbsp;&nbsp; 8.73%  |
| Red Rock Resorts Inc. | 14691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5889 | &nbsp;&nbsp;&nbsp;&nbsp; 8.00%  |
| Wyndham Hotels & Resorts Inc. | 9981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5405 | &nbsp;&nbsp;&nbsp;&nbsp; 7.34%  |
| MGM Resorts International | 19457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4748 | &nbsp;&nbsp;&nbsp;&nbsp; 6.45%  |
| Carnival Corp. | 21926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4579 | &nbsp;&nbsp;&nbsp;&nbsp; 6.22%  |
| Marriott International Inc/MD | 1794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4059 | &nbsp;&nbsp;&nbsp;&nbsp; 5.51%  |
| Marriott Vacations Worldwide Corp. | 8063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3470 | &nbsp;&nbsp;&nbsp;&nbsp; 4.71%  |
| Norwegian Cruise Line Holdings Ltd. | 20471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3359 | &nbsp;&nbsp;&nbsp;&nbsp; 4.56%  |
| Las Vegas Sands Corp. | 8325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3126 | &nbsp;&nbsp;&nbsp;&nbsp; 4.25%  |
| Brightstar Lottery PLC | 33083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2970 | &nbsp;&nbsp;&nbsp;&nbsp; 4.03%  |
| Wynn Resorts Ltd. | 3958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2834 | &nbsp;&nbsp;&nbsp;&nbsp; 3.85%  |
| Vail Resorts Inc. | 2840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2553 | &nbsp;&nbsp;&nbsp;&nbsp; 3.47%  |
| Callaway Golf Co. | 24907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2318 | &nbsp;&nbsp;&nbsp;&nbsp; 3.15%  |
| Hyatt Hotels Corp. | 2150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2299 | &nbsp;&nbsp;&nbsp;&nbsp; 3.12%  |
| Monarch Casino & Resort Inc. | 3573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2273 | &nbsp;&nbsp;&nbsp;&nbsp; 3.09%  |
| Dine Brands Global Inc. | 9481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1943 | &nbsp;&nbsp;&nbsp;&nbsp; 2.64%  |
| Airbnb Inc. | 2136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1910 | &nbsp;&nbsp;&nbsp;&nbsp; 2.59%  |
| Churchill Downs Inc. | 2178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1326 | &nbsp;&nbsp;&nbsp;&nbsp; 1.80%  |
| Portillo's Inc. | 36175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1279 | &nbsp;&nbsp;&nbsp;&nbsp; 1.74%  |
| DraftKings Inc. | 8037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1268 | &nbsp;&nbsp;&nbsp;&nbsp; 1.72%  |
| Bloomin' Brands Inc. | 23095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 936 | &nbsp;&nbsp;&nbsp;&nbsp; 1.27% |

---

\*\*\*\* MSXXBIOH Basket consists of a portfolio of:

---

| | | | |
|:---|:---|:---|:---|
| **Security**  | **Shares**  | **Value as of** <br>**February 28, 2026**  | **% of the Basket**  |
| ImmunityBio Inc. | 16776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.06%  |
| Iovance Biotherapeutics Inc. | 42164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.05%  |
| BioCryst Pharmaceuticals Inc. | 16673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.94%  |
| Erasca Inc. | 10544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.92%  |
| Roivant Sciences Ltd. | 4954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.92%  |
| Moderna Inc. | 2597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.89%  |
| SELLAS Life Sciences Group Inc. | 27371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.86%  |
| Novavax Inc. | 13191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.85%  |
| Kymera Therapeutics Inc. | 1431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.84%  |
| Palvella Therapeutics Inc. | 964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.83%  |
| CRISPR Therapeutics AG | 2140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.82%  |
| Legend Biotech Corp. | 6717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.81%  |
| Capricor Therapeutics Inc. | 4552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.81%  |
| Viking Therapeutics Inc. | 3716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.80%  |
| Amgen Inc. | 324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.80%  |
| CG oncology Inc. | 2134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.80%  |
| Summit Therapeutics Inc. | 7527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.80%  |
| Agios Pharmaceuticals Inc. | 4046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.78%  |
| Vaxcyte Inc. | 1980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.78%  |
| MoonLake Immunotherapeutics | 6890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.77%  |
| Praxis Precision Medicines Inc. | 357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.77%  |
| BioMarin Pharmaceutical Inc. | 1943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.77%  |
| Protagonist Therapeutics Inc. | 1295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.76%  |
| Revolution Medicines Inc. | 1167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.76%  |
| United Therapeutics Corp. | 236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.76%  |

---

See Notes to Financial Statements.

275<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Multi Strategy Alternatives Fund(continued)** 

---

| | | | |
|:---|:---|:---|:---|
| **Security**  | **Shares**  | **Value as of** <br>**February 28, 2026**  | **% of the Basket**  |
| Biogen Inc. | 614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.75%  |
| Centessa Pharmaceuticals PLC | 4382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.75%  |
| Vertex Pharmaceuticals Inc. | 237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.75%  |
| Intellia Therapeutics Inc. | 8514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.75%  |
| Immunovant Inc. | 4221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.75%  |
| Beam Therapeutics Inc. | 3971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.72%  |
| Celcuity Inc. | 1010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.72%  |
| ACADIA Pharmaceuticals Inc. | 4566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.72%  |
| Biohaven Ltd. | 9713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.71%  |
| Syndax Pharmaceuticals Inc. | 5152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.71%  |
| TG Therapeutics Inc. | 3711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.71%  |
| Kiniksa Pharmaceuticals International PLC | 2499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.71%  |
| Incyte Corp. | 1089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.70%  |
| Krystal Biotech Inc. | 397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.70%  |
| Denali Therapeutics Inc. | 5134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.69%  |
| Insmed Inc. | 728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.69%  |
| Cytokinetics Inc. | 1730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.69%  |
| Olema Pharmaceuticals Inc. | 4412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.68%  |
| Alnylam Pharmaceuticals Inc. | 321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.68%  |
| Neurocrine Biosciences Inc. | 806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.68%  |
| Ionis Pharmaceuticals Inc. | 1309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.68%  |
| Nuvalent Inc. | 1038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.68%  |
| Ideaya Biosciences Inc. | 3252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.67%  |
| ORIC Pharmaceuticals Inc. | 7773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.67%  |
| Ultragenyx Pharmaceutical Inc. | 4463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.67%  |
| Viridian Therapeutics Inc. | 3546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.67%  |
| Scholar Rock Holding Corp. | 2317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.65%  |
| Catalyst Pharmaceuticals Inc. | 4439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.65%  |
| Mineralys Therapeutics Inc. | 3499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.65%  |
| Spyre Therapeutics Inc. | 2361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.65%  |
| Vera Therapeutics Inc. | 2485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.65%  |
| Travere Therapeutics Inc. | 3397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.65%  |
| Halozyme Therapeutics Inc. | 1449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.64%  |
| Arrowhead Pharmaceuticals Inc. | 1585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.64%  |
| Tango Therapeutics Inc. | 8980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.64%  |
| ADMA Biologics Inc. | 6419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.64%  |
| Madrigal Pharmaceuticals Inc. | 231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.64%  |
| PTC Therapeutics Inc. | 1463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.64%  |
| Apellis Pharmaceuticals Inc. | 4751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.64%  |
| Recursion Pharmaceuticals Inc. | 27037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.63%  |
| Stoke Therapeutics Inc. | 2687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.62%  |
| Mirum Pharmaceuticals Inc. | 1058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.62%  |
| Rhythm Pharmaceuticals Inc. | 1043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.62%  |
| Caris Life Sciences Inc. | 4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.62%  |
| Bridgebio Pharma Inc. | 1454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.62%  |
| Alkermes PLC | 3205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.62%  |
| Arcus Biosciences Inc. | 4736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.62%  |
| Monte Rosa Therapeutics Inc. | 5416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.61%  |
| Soleno Therapeutics Inc. | 2459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.61%  |
| Disc Medicine Inc. | 1418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.60%  |
| Corvus Pharmaceuticals Inc. | 5168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.60%  |
| Nurix Therapeutics Inc. | 5859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.60%  |

---

See Notes to Financial Statements.

276<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Multi Strategy Alternatives Fund(continued)** 

---

| | | | |
|:---|:---|:---|:---|
| **Security**  | **Shares**  | **Value as of** <br>**February 28, 2026**  | **% of the Basket**  |
| Ardelyx Inc. | 14174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.59%  |
| Newamsterdam Pharma Co., NV | 2611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.59%  |
| Sarepta Therapeutics Inc. | 5486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.59%  |
| Dyne Therapeutics Inc. | 5836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.58%  |
| Immunome Inc. | 4169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.58%  |
| XOMA Royalty Corp. | 3565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.58%  |
| Day One Biopharmaceuticals Inc. | 8578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.58%  |
| AnaptysBio Inc. | 1644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.58%  |
| Relay Therapeutics Inc. | 8551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.56%  |
| Zenas Biopharma Inc. | 3284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.55%  |
| Altimmune Inc. | 19988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.55%  |
| Janux Therapeutics Inc. | 6310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.55%  |
| Celldex Therapeutics Inc. | 2817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.54%  |
| Kodiak Sciences Inc. | 3119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.53%  |
| Tyra Biosciences Inc. | 2441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.52%  |
| Vir Biotechnology Inc. | 8419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.49%  |
| Zymeworks Inc. | 3191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.47%  |
| Vericel Corp. | 2069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.47%  |
| Allogene Therapeutics Inc. | 26234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.47% |
| Geron Corp. | 43118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.46%  |
| Monopar Therapeutics Inc. | 1303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.46%  |
| Oruka Therapeutics Inc. | 1958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.43%  |
| Aurinia Pharmaceuticals Inc. | 4660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.42%  |
| Immunocore Holdings PLC | 2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.42%  |
| Vor BioPharma Inc. | 4184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.41%  |
| uniQure NV | 4045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.40%  |
| Inhibrx Biosciences Inc. | 842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.40%  |
| UroGen Pharma Ltd. | 2827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.39%  |
| KalVista Pharmaceuticals Inc. | 3744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.39%  |
| Compass Therapeutics Inc. | 10678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.39%  |
| Zai Lab Ltd. | 3104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.38%  |
| Prime Medicine Inc. | 12700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.37%  |
| Annexon Inc. | 10384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.37%  |
| Precigen Inc. | 15335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.37%  |
| MannKind Corp. | 17689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.37%  |
| GRAIL Inc. | 1054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.36%  |
| ARS Pharmaceuticals Inc. | 5815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.34%  |
| Rigel Pharmaceuticals Inc. | 1549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.34%  |
| CytomX Therapeutics Inc. | 9955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.34%  |
| Rezolute Inc. | 15782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.32%  |
| Taysha Gene Therapies Inc. | 10858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.31%  |
| Kura Oncology Inc. | 5311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.30%  |
| Verastem Inc. | 7893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.29%  |
| Sana Biotechnology Inc. | 10330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.28%  |
| Rocket Pharmaceuticals Inc. | 8525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.27%  |
| Palisade Bio Inc. | 24070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.27%  |
| Evommune Inc. | 1627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.27%  |
| Cullinan Therapeutics Inc. | 2709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.27%  |
| ArriVent Biopharma Inc. | 1798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.26%  |
| Sionna Therapeutics Inc. | 1115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.26%  |
| Ocugen Inc. | 21709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.25%  |
| Ironwood Pharmaceuticals Inc. | 11417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.25%  |

---

See Notes to Financial Statements.

277<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Multi Strategy Alternatives Fund(continued)** 

---

| | | | |
|:---|:---|:---|:---|
| **Security**  | **Shares**  | **Value as of** <br>**February 28, 2026**  | **% of the Basket**  |
| Absci Corp. | 13787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.24%  |
| Compass Pathways PLC | 5449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.24%  |
| Cabaletta Bio Inc. | 11063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.23%  |
| Immuneering Corp. | 7360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.23%  |
| Vanda Pharmaceuticals Inc. | 4103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.23%  |
| Replimune Group Inc. | 4618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.23%  |
| Xencor Inc. | 2730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.22%  |
| Immix Biopharma Inc. | 4071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.21%  |
| Protara Therapeutics Inc. | 5081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.21%  |
| REGENXBIO Inc. | 3564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.21%  |
| Savara Inc. | 5278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.20%  |
| Kyverna Therapeutics Inc. | 3853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.20%  |
| 4D Molecular Therapeutics Inc. | 3258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.20%  |
| Bicara Therapeutics Inc. | 1836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.20%  |
| Forte Biosciences Inc. | 974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.19%  |
| Lexeo Therapeutics Inc. | 3903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.18%  |
| Perspective Therapeutics Inc. | 5132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.18%  |
| Anavex Life Sciences Corp. | 6159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.17%  |
| Abeona Therapeutics Inc. | 5162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.17%  |
| Aktis Oncology Inc. | 1305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.17%  |
| Avalo Therapeutics Inc. | 1418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.16%  |
| Tonix Pharmaceuticals Holding Corp. | 1764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.16%  |
| Solid Biosciences Inc. | 3762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.15%  |
| Invivyd Inc. | 13503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.15%  |
| Tectonic Therapeutic Inc. | 939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.14%  |
| Upstream Bio Inc. | 2847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.14%  |
| Century Therapeutics Inc. | 9370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.14%  |
| MiMedx Group Inc. | 4329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.14%  |
| Arbutus Biopharma Corp. | 4372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.13%  |
| Cibus Inc. | 5481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.13%  |
| Larimar Therapeutics Inc. | 3761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.13%  |
| Opus Genetics Inc. | 4776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.13%  |
| Humacyte Inc. | 17607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.13%  |
| Keros Therapeutics Inc. | 1370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.12%  |
| Myriad Genetics Inc. | 3976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.12%  |
| Climb Bio Inc. | 2504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.11%  |
| Elicio Therapeutics Inc. | 1370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.11%  |
| Karyopharm Therapeutics Inc. | 1886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.11%  |
| Aldeyra Therapeutics Inc. | 3230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.11%  |
| Immunic Inc. | 17186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.11%  |
| Prothena Corp. PLC | 2020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.11%  |
| Unicycive Therapeutics Inc. | 2503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.11%  |
| Gain Therapeutics Inc. | 6500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.11%  |
| Editas Medicine Inc. | 7541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.11%  |
| iBio Inc. | 5775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.10%  |
| Sutro Biopharma Inc. | 795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.10%  |
| Anika Therapeutics Inc. | 1125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.10%  |
| Arcturus Therapeutics Holdings Inc. | 1940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.10%  |
| Immatics NV | 1537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.10%  |
| Jade Biosciences Inc. | 1058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.10%  |
| C4 Therapeutics Inc. | 5707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.10%  |
| Neurogene Inc. | 653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.10%  |

---

See Notes to Financial Statements.

278<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Multi Strategy Alternatives Fund(continued)** 

---

| | | | |
|:---|:---|:---|:---|
| **Security**  | **Shares**  | **Value as of** <br>**February 28, 2026**  | **% of the Basket**  |
| Candel Therapeutics Inc. | 2889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.10%  |
| PepGen Inc. | 2422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.10%  |
| Inhibikase Therapeutics Inc. | 7322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.10%  |
| Oncolytics Biotech Inc. | 13145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.09%  |
| Crescent Biopharma Inc. | 1226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.09%  |
| Achieve Life Sciences Inc. | 3243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.09%  |
| Akebia Therapeutics Inc. | 11242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.09%  |
| Zura Bio Ltd. | 2219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.09%  |
| Equillium Inc. | 8018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.09%  |
| Autolus Therapeutics PLC | 8348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.09%  |
| Alector Inc. | 5868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.09%  |
| Fate Therapeutics Inc. | 9611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.09%  |
| Biomea Fusion Inc. | 10269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.09%  |
| Acumen Pharmaceuticals Inc. | 4479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.09%  |
| Sagimet Biosciences Inc. | 2461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.09%  |
| MeiraGTx Holdings PLC | 1853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.09%  |
| Nkarta Inc. | 5181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.09%  |
| Caribou Biosciences Inc. | 7349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.09%  |
| Avita Medical Inc. | 2743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.09%  |
| Surrozen Inc. | 492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.09%  |
| MapLight Therapeutics Inc. | 784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.09%  |
| Cardiff Oncology Inc. | 6868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.09%  |
| Agenus Inc. | 4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.09%  |
| Prelude Therapeutics Inc. | 4791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.08%  |
| Genelux Corp. | 4423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.08%  |
| Enanta Pharmaceuticals Inc. | 918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.08%  |
| MAIA Biotechnology Inc. | 5780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.08% |
| Eledon Pharmaceuticals Inc. | 4931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.08%  |
| Silence Therapeutics PLC | 2366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.08%  |
| MacroGenics Inc. | 6396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.08%  |
| Lineage Cell Therapeutics Inc. | 6612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.08%  |
| Coherus Oncology Inc. | 7544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.08%  |
| ADC Therapeutics SA | 3071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.08%  |
| ProKidney Corp. | 5590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.08%  |
| Assembly Biosciences Inc. | 419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.08%  |
| Precision BioSciences Inc. | 2968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.08%  |
| Inovio Pharmaceuticals Inc. | 6847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.08%  |
| Pyxis Oncology Inc. | 8409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.08%  |
| Engene Holdings Inc. | 1218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.08%  |
| Cartesian Therapeutics Inc. | 1616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.08%  |
| Annovis Bio Inc. | 4530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.08%  |
| Voyager Therapeutics Inc. | 2954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.08%  |
| Corbus Pharmaceuticals Holding Inc. | 1405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.08%  |
| OS Therapies Inc. | 8166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.08%  |
| Entrada Therapeutics Inc. | 1005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.08%  |
| Protalix BioTherapeutics Inc. | 4126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.08%  |
| vTv Therapeutics Inc. | 307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07%  |
| BridgeBio Oncology Therapeutic Inc. | 1164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07%  |
| Ovid therapeutics Inc. | 7142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07%  |
| ProQR Therapeutics NV | 7306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07%  |
| Korro Bio Inc. | 949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07%  |
| Shattuck Labs Inc. | 2934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07%  |

---

See Notes to Financial Statements.

279<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Multi Strategy Alternatives Fund(continued)** 

---

| | | | |
|:---|:---|:---|:---|
| **Security**  | **Shares**  | **Value as of** <br>**February 28, 2026**  | **% of the Basket**  |
| Design Therapeutics Inc. | 1098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07%  |
| Coya Therapeutics Inc. | 2306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07%  |
| Exagen Inc. | 3153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07%  |
| Jasper Therapeutics Inc. | 8221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07%  |
| Black Diamond Therapeutics Inc. | 4584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07%  |
| Foghorn Therapeutics Inc. | 1961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07%  |
| Aura Biosciences Inc. | 1874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07%  |
| Bicycle Therapeutics PLC | 1880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07%  |
| Canton Strategic Holdings Inc. | 2121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07%  |
| DiaMedica Therapeutics Inc. | 1352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07%  |
| Adicet Bio Inc. | 1482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07%  |
| Lyell Immunopharma Inc. | 448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07%  |
| Cypherpunk Technologies Inc. | 17117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07%  |
| Forum Markets Inc. | 3026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07%  |
| aTyr Pharma Inc. | 11086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07%  |
| Galectin Therapeutics Inc. | 3552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07%  |
| Amarin Corp. PLC | 759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07%  |
| NovaBridge Biosciences | 3180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07%  |
| Zentalis Pharmaceuticals Inc. | 4343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07%  |
| Passage Bio Inc. | 1132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07%  |
| Coeptis Therapeutics Holdings | 856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07%  |
| X4 Pharmaceuticals Inc. | 2976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07%  |
| AC Immune SA | 3405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.06%  |
| Acrivon Therapeutics Inc. | 6594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.06%  |
| Benitec Biopharma Inc. | 909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.06%  |
| Heron Therapeutics Inc. | 8262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.06%  |
| Marker Therapeutics Inc. | 6406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.06%  |
| Organogenesis Holdings Inc. | 2880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.06%  |
| Puma Biotechnology Inc. | 1618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.06%  |
| Gossamer Bio Inc. | 20323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.06%  |
| Alvotech SA | 2152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.05%  |
| Tenaya Therapeutics Inc. | 13974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.05%  |
| Spruce Biosciences Inc. | 136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.05% |

---

At February 28, 2026, Destinations Multi Strategy Alternatives Fund held the following OTC and Centrally Cleared Credit Default Swap Contracts:

**OTC Credit Default Swaps on Indexes - Sell Protection<sup>(1)</sup>**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference** <br>**Obligation** | **Fixed** <br>**Deal** <br>**Receive** <br>**Rate** | **Maturity** <br>**Date** | **Payment** <br>**Frequency** | **Counterparty** | **Implied** <br>**Credit** <br>**Spread at** <br>**2/28/26<sup>(2)</sup>** | **Notional**<br>**Amounts<sup>(3)</sup>** | **Notional**<br>**Amounts<sup>(3)</sup>** | **Market** <br>**Value** | **Upfront** <br>**Premiums** <br>**Paid/** <br>(Received) | **Unrealized** <br>**Appreciation** <br>(Depreciation)  |
| CDX.NA.HY.37 | 5.000% | 12/20/26 | 3-month | &nbsp;&nbsp;&nbsp; GSC | &nbsp;&nbsp; 0.196% | USD | 15000000 | $728608 | $1228500 | &nbsp;&nbsp; $(499892)  |
| CDX.NA.HY.39 | 5.000% | 12/20/27 | 3-month | &nbsp;&nbsp;&nbsp; GSC | &nbsp;&nbsp; 0.803% | USD | 20000000 | 1673793 | 1725000 | &nbsp;&nbsp; (51207)  |
| CDX.NA.HY.41 | 5.000% | 12/20/28 | 3-month | &nbsp;&nbsp;&nbsp; GSC | &nbsp;&nbsp; 0.593% | USD | 15000000 | 1930110 | 1945500 | &nbsp;&nbsp; (15390)  |
| CDX.NA.HY.45 | 5.000% | 12/20/30 | 3-month | &nbsp;&nbsp;&nbsp; MSCS | &nbsp;&nbsp; 1.916% | USD | 30000000 | 4358048 | 4245900 | &nbsp;&nbsp; 112148  |
| CDX.NA.IG.45 | 1.000% | 12/20/30 | 3-month | &nbsp;&nbsp;&nbsp; MSCS | &nbsp;&nbsp; 2.186% | USD | 20000000 | (995857) | (954000) | &nbsp;&nbsp; (41857)  |
| CDX.NA.IG.45 | 1.000% | 12/20/30 | 3-month | &nbsp;&nbsp;&nbsp; GSC | &nbsp;&nbsp; 4.372% | USD | 40000000 | (1991716) | (2000000) | &nbsp;&nbsp; 8284  |
| CDX.NA.IG.45 | 1.000% | 12/20/30 | 3-month | &nbsp;&nbsp;&nbsp; GSC | &nbsp;&nbsp; 2.186% | USD | 20000000 | (995858) | (964000) | &nbsp;&nbsp; (31858)  |
|  |  |  |  |  |  |  |  | **$4707128** | **$5226900** | &nbsp;&nbsp; **$(519772)** |

---

See Notes to Financial Statements.

280<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Multi Strategy Alternatives Fund(concluded)** 

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(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.

<u>Counterparty Abbreviations used in this schedule:</u>

GSC — Goldman Sachs & Co.

MSCS — Morgan Stanley Capital Services LLC

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **SECURITIES SOLD SHORT – 1.4%**  | **SECURITIES SOLD SHORT – 1.4%**  | **SECURITIES SOLD SHORT – 1.4%**  |
| **COMMON STOCKS – 1.4%**  | **COMMON STOCKS – 1.4%**  | **COMMON STOCKS – 1.4%**  |
| **FINANCIAL – 1.4%**  | **FINANCIAL – 1.4%**  | **FINANCIAL – 1.4%**  |
| **Banks – 0.6%** <br>|  |  |
| 166000 | Fulton Financial Corp. | $3394700  |
| **Equity Real Estate Investment Trusts (REITs) – 0.8%**  | **Equity Real Estate Investment Trusts (REITs) – 0.8%**  | **Equity Real Estate Investment Trusts (REITs) – 0.8%**  |
| 130705 | VICI Properties Inc., Class A Shares | 3948598  |
|  | **TOTAL FINANCIAL** | **7343298**  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>**(Proceeds – $6,902,963)** | **7343298**  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL SECURITIES SOLD SHORT – 1.4%** <br>**(Proceeds – $6,902,963)** | **$7343298**  |

---

See Notes to Financial Statements.

281<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Shelter Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – 97.8%**  | **COMMON STOCKS – 97.8%**  | **COMMON STOCKS – 97.8%**  |
| **BASIC MATERIALS – 1.7%**  | **BASIC MATERIALS – 1.7%**  | **BASIC MATERIALS – 1.7%**  |
| **Chemicals – 1.2%**  | **Chemicals – 1.2%**  | **Chemicals – 1.2%**  |
| 7209 | Dow Inc.  | $221533  |
| 1139  | Linde PLC  | 578703  |
| 2677  | LyondellBasell Industries NV, Class A Shares  | 153981  |
| 1318  | RPM International Inc.  | 150410  |
|  | Total Chemicals | 1104627  |
| **Iron/Steel – 0.1%**  | **Iron/Steel – 0.1%**  | **Iron/Steel – 0.1%**  |
| 3110  | Vale SA, Class B Shares, ADR  | 53430  |
| **Mining – 0.4%**  | **Mining – 0.4%**  | **Mining – 0.4%**  |
| 1461  | Barrick Mining Corp.  | 74131  |
| 3660  | Freeport-McMoRan Inc.  | 249173  |
| 420  | Southern Copper Corp.  | 91686  |
|  | Total Mining | 414990  |
|  | **TOTAL BASIC MATERIALS** | **1573047**  |
| **COMMUNICATIONS – 17.0%**  | **COMMUNICATIONS – 17.0%**  | **COMMUNICATIONS – 17.0%**  |
| **Internet – 15.1%**  | **Internet – 15.1%**  | **Internet – 15.1%**  |
| 801  | Alphabet Inc., Class A Shares<sup>(a)</sup>  | 249720  |
| 17870  | Alphabet Inc., Class C Shares<sup>(a)</sup>  | 5565254  |
| 16588  | Amazon.com Inc.<sup>\*(a)</sup>  | 3483480  |
| 234  | AppLovin Corp., Class A Shares<sup>\*</sup>  | 101736  |
| 88  | Booking Holdings Inc.  | 373063  |
| 11  | MercadoLibre Inc.<sup>\*</sup>  | 19333  |
| 4097  | Meta Platforms Inc., Class A Shares<sup>(a)</sup>  | 2655593  |
| 9400  | Netflix Inc.<sup>\*(a)</sup>  | 904656  |
| 728  | Palo Alto Networks Inc.<sup>\*</sup>  | 108414  |
| 653  | Roku Inc., Class A Shares<sup>\*</sup>  | 64262  |
| 586  | Shopify Inc., Class A Shares<sup>\*</sup>  | 70748  |
| 3026  | Uber Technologies Inc.<sup>\*</sup>  | 228221  |
|  | Total Internet | 13824480  |
| **Media – 0.8%**  | **Media – 0.8%**  | **Media – 0.8%**  |
| 767  | Charter Communications Inc., Class A Shares<sup>\*</sup>  | 179961  |
| 10587  | Comcast Corp., Class A Shares  | 327774  |
| 253  | New York Times Co., Class A Shares  | 20187  |
| 2285  | Walt Disney Co.<sup>(a)</sup>  | 242301  |
|  | Total Media | 770223  |
| **Telecommunications – 1.1%**  | **Telecommunications – 1.1%**  | **Telecommunications – 1.1%**  |
| 805  | Arista Networks Inc.<sup>\*</sup>  | 107467  |
| 7852  | Cisco Systems Inc.<sup>(a)</sup>  | 623920  |
| 13618  | Telefonaktiebolaget LM Ericsson, ADR  | 157969  |
| 7403  | Vodafone Group PLC, ADR  | 113710  |
|  | Total Telecommunications | 1003066  |
|  | **TOTAL COMMUNICATIONS** | **15597769**  |

---

See Notes to Financial Statements.

282<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Shelter Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER CYCLICAL – 8.1%**  | **CONSUMER CYCLICAL – 8.1%**  | **CONSUMER CYCLICAL – 8.1%**  |
| **Airlines – 0.3%**  | **Airlines – 0.3%**  | **Airlines – 0.3%**  |
| 4554  | Delta Air Lines Inc.  | $299198  |
| **Apparel – 0.1%**  | **Apparel – 0.1%**  | **Apparel – 0.1%**  |
| 2089  | NIKE Inc., Class B Shares  | 129894  |
| **Auto Manufacturers – 2.1%**  | **Auto Manufacturers – 2.1%**  | **Auto Manufacturers – 2.1%**  |
| 4759  | Tesla Inc.<sup>\*(a)</sup>  | 1915545  |
| **Auto Parts & Equipment – 0.2%**  | **Auto Parts & Equipment – 0.2%**  | **Auto Parts & Equipment – 0.2%**  |
| 630  | Autoliv Inc.  | 74668  |
| 1368  | Magna International Inc.  | 86252  |
|  | Total Auto Parts & Equipment | 160920  |
| **Distribution/Wholesale – 0.4%**  | **Distribution/Wholesale – 0.4%**  | **Distribution/Wholesale – 0.4%**  |
| 307  | WW Grainger Inc.  | 351432  |
| **Food Service – 0.0%**  | **Food Service – 0.0%**  | **Food Service – 0.0%**  |
| 1163  | Aramark  | 48672  |
| **Home Builders – 0.4%**  | **Home Builders – 0.4%**  | **Home Builders – 0.4%**  |
| 2377  | Toll Brothers Inc.  | 373760  |
| **Leisure Time – 0.0%**  | **Leisure Time – 0.0%**  | **Leisure Time – 0.0%**  |
| 223  | Planet Fitness Inc., Class A Shares<sup>\*</sup>  | 18319  |
| **Lodging – 0.1%**  | **Lodging – 0.1%**  | **Lodging – 0.1%**  |
| 1245  | Las Vegas Sands Corp.  | 70616  |
| **Retail – 4.5%**  | **Retail – 4.5%**  | **Retail – 4.5%**  |
| 80  | Burlington Stores Inc.<sup>\*</sup>  | 24550  |
| 874  | Costco Wholesale Corp.  | 883431  |
| 192  | Dick's Sporting Goods Inc.  | 39097  |
| 1045  | Home Depot Inc.<sup>(a)</sup>  | 397852  |
| 1426  | McDonald's Corp.  | 486352  |
| 831  | Restaurant Brands International Inc.  | 59591  |
| 3664  | TJX Cos., Inc.  | 592322  |
| 11892  | Walmart Inc.<sup>(a)</sup>  | 1521581  |
| 482  | Williams-Sonoma Inc.  | 99123  |
|  | Total Retail | 4103899  |
|  | **TOTAL CONSUMER CYCLICAL** | **7472255**  |
| **CONSUMER NON-CYCLICAL – 12.1%**  | **CONSUMER NON-CYCLICAL – 12.1%**  | **CONSUMER NON-CYCLICAL – 12.1%**  |
| **Agriculture – 1.1%**  | **Agriculture – 1.1%**  | **Agriculture – 1.1%**  |
| 2467  | British American Tobacco PLC, ADR  | 154558  |
| 4598  | Philip Morris International Inc.  | 859044  |
|  | Total Agriculture | 1013602  |
| **Beverages – 1.2%**  | **Beverages – 1.2%**  | **Beverages – 1.2%**  |
| 4469  | Brown-Forman Corp., Class B Shares  | 128975  |
| 287  | Coca-Cola Europacific Partners PLC  | 31694  |
| 1097  | Constellation Brands Inc., Class A Shares  | 173173  |
| 5815  | Keurig Dr Pepper Inc.  | 176078  |

---

See Notes to Financial Statements.

283<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Shelter Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  |
| **Beverages – (continued)**  | **Beverages – (continued)**  | **Beverages – (continued)**  |
| 5072  | Molson Coors Beverage Co., Class B Shares  | $248477  |
| 3491  | Monster Beverage Corp.<sup>\*</sup>  | 297782  |
|  | Total Beverages | 1056179  |
| **Biotechnology – 1.0%**  | **Biotechnology – 1.0%**  | **Biotechnology – 1.0%**  |
| 185  | Alnylam Pharmaceuticals Inc.<sup>\*</sup>  | 61590  |
| 1432  | Amgen Inc.  | 555845  |
| 203  | Biogen Inc.<sup>\*</sup>  | 38939  |
| 415  | Illumina Inc.<sup>\*</sup>  | 55801  |
| 152  | Regeneron Pharmaceuticals Inc.  | 118814  |
| 182  | United Therapeutics Corp.<sup>\*</sup>  | 91710  |
|  | Total Biotechnology | 922699  |
| **Commercial Services – 0.0%**  | **Commercial Services – 0.0%**  | **Commercial Services – 0.0%**  |
| 509  | Booz Allen Hamilton Holding Corp., Class A Shares  | 40124  |
| **Cosmetics/Personal Care – 0.2%**  | **Cosmetics/Personal Care – 0.2%**  | **Cosmetics/Personal Care – 0.2%**  |
| 769  | Estee Lauder Cos., Inc., Class A Shares  | 84182  |
| 6156  | Kenvue Inc.  | 117703  |
|  | Total Cosmetics/Personal Care | 201885  |
| **Food – 0.4%**  | **Food – 0.4%**  | **Food – 0.4%**  |
| 6632  | Conagra Brands Inc.  | 127666  |
| 4610  | General Mills Inc.  | 208510  |
| 737  | US Foods Holding Corp.<sup>\*</sup>  | 71202  |
|  | Total Food | 407378  |
| **Healthcare-Products – 1.8%**  | **Healthcare-Products – 1.8%**  | **Healthcare-Products – 1.8%**  |
| 1127  | Abbott Laboratories  | 131127  |
| 1138  | Alcon AG  | 99211  |
| 6365  | Baxter International Inc.  | 129655  |
| 373  | Exact Sciences Corp.<sup>\*</sup>  | 38561  |
| 1694  | GE HealthCare Technologies Inc.  | 142753  |
| 849  | Intuitive Surgical Inc.<sup>\*</sup>  | 427480  |
| 3244  | Revvity Inc.  | 318918  |
| 512  | Thermo Fisher Scientific Inc.  | 266808  |
| 201  | Waters Corp.<sup>\*</sup>  | 64195  |
|  | Total Healthcare-Products | 1618708  |
| **Healthcare-Services – 1.3%**  | **Healthcare-Services – 1.3%**  | **Healthcare-Services – 1.3%**  |
| 3644  | Centene Corp.<sup>\*</sup>  | 163543  |
| 1135  | Cigna Group  | 328945  |
| 703  | Elevance Health Inc.  | 224960  |
| 1544  | UnitedHealth Group Inc.  | 452809  |
|  | Total Healthcare-Services | 1170257  |
| **Household Products/Wares – 0.4%**  | **Household Products/Wares – 0.4%**  | **Household Products/Wares – 0.4%**  |
| 3036  | Kimberly-Clark Corp.  | 338332  |

---

See Notes to Financial Statements.

284<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Shelter Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  | **CONSUMER NON-CYCLICAL – (continued)**  |
| **Pharmaceuticals – 4.7%**  | **Pharmaceuticals – 4.7%**  | **Pharmaceuticals – 4.7%**  |
| 3399  | AbbVie Inc.  | $788840  |
| 558  | AstraZeneca PLC  | 116315  |
| 622  | DexCom Inc.<sup>\*</sup>  | 45674  |
| 1358  | Eli Lilly & Co.  | 1428602  |
| 238  | Jazz Pharmaceuticals PLC<sup>\*</sup>  | 45225  |
| 3878  | Johnson & Johnson<sup>(a)</sup>  | 963412  |
| 4803  | Merck & Co., Inc.  | 594707  |
| 183  | Novartis AG, ADR  | 30857  |
| 9278  | Pfizer Inc.  | 256537  |
| 2538  | Teva Pharmaceutical Industries Ltd., ADR<sup>\*</sup>  | 85937  |
|  | Total Pharmaceuticals | 4356106  |
|  | **TOTAL CONSUMER NON-CYCLICAL** | **11125270**  |
| **ENERGY – 3.6%**  | **ENERGY – 3.6%**  | **ENERGY – 3.6%**  |
| **Oil & Gas – 3.2%**  | **Oil & Gas – 3.2%**  | **Oil & Gas – 3.2%**  |
| 3338  | Canadian Natural Resources Ltd.  | 146104  |
| 1579  | Cenovus Energy Inc.  | 35227  |
| 2580  | Chevron Corp.  | 481841  |
| 10298  | Exxon Mobil Corp.<sup>(a)</sup>  | 1570445  |
| 982  | HF Sinclair Corp.  | 49110  |
| 3501  | Occidental Petroleum Corp.  | 185833  |
| 561  | Ovintiv Inc.  | 28381  |
| 1469  | Phillips 66  | 226711  |
| 629  | Range Resources Corp.  | 25965  |
| 2703  | Suncor Energy Inc.  | 152774  |
|  | Total Oil & Gas | 2902391  |
| **Pipelines – 0.4%**  | **Pipelines – 0.4%**  | **Pipelines – 0.4%**  |
| 217  | Enbridge Inc.  | 11531  |
| 1562  | Targa Resources Corp.  | 368320  |
| 257  | TC Energy Corp.  | 16543  |
|  | Total Pipelines | 396394  |
|  | **TOTAL ENERGY** | **3298785**  |
| **FINANCIAL – 14.8%**  | **FINANCIAL – 14.8%**  | **FINANCIAL – 14.8%**  |
| **Banks – 4.6%**  | **Banks – 4.6%**  | **Banks – 4.6%**  |
| 2682  | Banco Bradesco SA, ADR  | 10969  |
| 7616  | Bank of America Corp.<sup>(a)</sup>  | 379505  |
| 60  | Bank of Montreal  | 8636  |
| 1227  | East West Bancorp Inc.  | 134295  |
| 2100  | First Horizon Corp.  | 49959  |
| 1067  | Goldman Sachs Group Inc.  | 917161  |
| 554  | ICICI Bank Ltd., ADR  | 16903  |
| 4939  | Itau Unibanco Holding SA, ADR  | 44698  |

---

See Notes to Financial Statements.

285<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Schedules of Investments** 

**February 28, 2026** 

**Destinations Shelter Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  | **FINANCIAL – (continued)**  |
| **Banks – (continued)**  | **Banks – (continued)**  | **Banks – (continued)**  |
| 6735  | JPMorgan Chase & Co.<sup>(a)</sup>  | $2022521  |
| 7560  | Wells Fargo & Co.  | 615762  |
|  | Total Banks | 4200409  |
| **Diversified Financial Services – 4.5%**  | **Diversified Financial Services – 4.5%**  | **Diversified Financial Services – 4.5%**  |
| 1996  | American Express Co.  | 616564  |
| 940  | Ameriprise Financial Inc.  | 441913  |
| 470  | Brookfield Asset Management Ltd., Class A Shares  | 21972  |
| 684  | Evercore Inc., Class A Shares  | 211247  |
| 1682  | Jefferies Financial Group Inc.  | 74681  |
| 2305  | Mastercard Inc., Class A Shares<sup>(a)</sup>  | 1192169  |
| 2501  | Nasdaq Inc.  | 219038  |
| 4380  | Visa Inc., Class A Shares<sup>(a)</sup>  | 1402213  |
| 249  | Voya Financial Inc.  | 16653  |
|  | Total Diversified Financial Services | 4196450  |
| **Equity Real Estate Investment Trusts (REITs) – 1.6%**  | **Equity Real Estate Investment Trusts (REITs) – 1.6%**  | **Equity Real Estate Investment Trusts (REITs) – 1.6%**  |
| 1721  | Alexandria Real Estate Equities Inc.  | 93003  |
| 1118  | American Tower Corp.  | 214499  |
| 2670  | Crown Castle Inc.  | 239072  |
| 8447  | Realty Income Corp.  | 565949  |
| 7200  | VICI Properties Inc., Class A Shares  | 217512  |
| 1569  | WP Carey Inc.  | 117126  |
|  | Total Equity Real Estate Investment Trusts (REITs) | 1447161  |
| **Insurance – 3.6%**  | **Insurance – 3.6%**  | **Insurance – 3.6%**  |
| 3161  | Aflac Inc.  | 356972  |
| 569  | Aon PLC, Class A Shares  | 190882  |
| 1059  | Arthur J Gallagher & Co.  | 241664  |
| 2947  | Berkshire Hathaway Inc., Class B Shares<sup>\*</sup>  | 1488088  |
| 2817  | Brown & Brown Inc.  | 202317  |
| 1093  | Fidelity National Financial Inc.  | 57798  |
| 5545  | Manulife Financial Corp.  | 197069  |
| 104  | Markel Group Inc.<sup>\*</sup>  | 215537  |
| 187  | RenaissanceRe Holdings Ltd.  | 56560  |
| 1618  | Unum Group  | 116059  |
| 2545  | WR Berkley Corp.  | 182476  |
|  | Total Insurance | 3305422  |
| **Private Equity – 0.3%**  | **Private Equity – 0.3%**  | **Private Equity – 0.3%**  |
| 6280  | Brookfield Corp.  | 275315  |
| **Real Estate – 0.2%**  | **Real Estate – 0.2%**  | **Real Estate – 0.2%**  |
| 508  | Jones Lang LaSalle Inc.<sup>\*</sup>  | 160299  |
|  | **TOTAL FINANCIAL** | **13585056**  |

---

See Notes to Financial Statements.

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations Shelter Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **INDUSTRIAL – 8.8%**  | **INDUSTRIAL – 8.8%**  | **INDUSTRIAL – 8.8%**  |
| **Aerospace/Defense – 2.1%**  | **Aerospace/Defense – 2.1%**  | **Aerospace/Defense – 2.1%**  |
| 1185  | Boeing Co.<sup>\*</sup>  | $269623  |
| 1276  | General Dynamics Corp.  | 455596  |
| 2659  | General Electric Co.  | 910070  |
| 842  | HEICO Corp.  | 268985  |
|  | Total Aerospace/Defense | 1904274  |
| **Building Materials – 0.4%**  | **Building Materials – 0.4%**  | **Building Materials – 0.4%**  |
| 330  | Carlisle Cos., Inc.  | 130274  |
| 315  | Lennox International Inc.  | 179531  |
| 249  | Louisiana-Pacific Corp.  | 21100  |
|  | Total Building Materials | 330905  |
| **Electrical Components & Equipment – 0.5%**  | **Electrical Components & Equipment – 0.5%**  | **Electrical Components & Equipment – 0.5%**  |
| 359  | Acuity Inc.  | 108271  |
| 1651  | AMETEK Inc.  | 394952  |
|  | Total Electrical Components & Equipment | 503223  |
| **Electronics – 0.5%**  | **Electronics – 0.5%**  | **Electronics – 0.5%**  |
| 3344  | Amphenol Corp., Class A Shares  | 488425  |
| **Engineering & Construction – 0.1%**  | **Engineering & Construction – 0.1%**  | **Engineering & Construction – 0.1%**  |
| 694  | AECOM  | 67998  |
| **Environmental Control – 0.5%**  | **Environmental Control – 0.5%**  | **Environmental Control – 0.5%**  |
| 1466  | Republic Services Inc., Class A Shares  | 335714  |
| 806  | Waste Connections Inc.  | 138737  |
|  | Total Environmental Control | 474451  |
| **Hand/Machine Tools – 0.0%**  | **Hand/Machine Tools – 0.0%**  | **Hand/Machine Tools – 0.0%**  |
| 148  | Lincoln Electric Holdings Inc.  | 42483  |
| **Machinery-Construction & Mining – 1.8%**  | **Machinery-Construction & Mining – 1.8%**  | **Machinery-Construction & Mining – 1.8%**  |
| 1045  | BWX Technologies Inc.  | 215249  |
| 1300  | Caterpillar Inc.  | 965679  |
| 587  | GE Vernova Inc.  | 512803  |
|  | Total Machinery-Construction & Mining | 1693731  |
| **Machinery-Diversified – 1.1%**  | **Machinery-Diversified – 1.1%**  | **Machinery-Diversified – 1.1%**  |
| 863  | Deere & Co.  | 543440  |
| 1956  | Graco Inc.  | 183707  |
| 200  | Rockwell Automation Inc.  | 81490  |
| 1580  | Xylem Inc.  | 204705  |
|  | Total Machinery-Diversified | 1013342  |
| **Miscellaneous Manufacturers – 0.7%**  | **Miscellaneous Manufacturers – 0.7%**  | **Miscellaneous Manufacturers – 0.7%**  |
| 2170  | 3M Co.  | 358744  |
| 682  | Entegris Inc.  | 90331  |
| 1487  | Textron Inc.  | 146693  |
|  | Total Miscellaneous Manufacturers | 595768  |

---

See Notes to Financial Statements.

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations Shelter Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **INDUSTRIAL – (continued)**  | **INDUSTRIAL – (continued)**  | **INDUSTRIAL – (continued)**  |
| **Packaging & Containers – 0.3%**  | **Packaging & Containers – 0.3%**  | **Packaging & Containers – 0.3%**  |
| 393  | Crown Holdings Inc.  | $45038  |
| 906  | Packaging Corp. of America  | 210319  |
|  | Total Packaging & Containers | 255357  |
| **Transportation – 0.8%**  | **Transportation – 0.8%**  | **Transportation – 0.8%**  |
| 1263  | Canadian National Railway Co.  | 141696  |
| 294  | Canadian Pacific Kansas City Ltd.  | 25751  |
| 1275  | Old Dominion Freight Line Inc.  | 258889  |
| 2011  | United Parcel Service Inc., Class B Shares  | 233196  |
| 441  | XPO Inc.<sup>\*</sup>  | 92817  |
|  | Total Transportation | 752349  |
|  | **TOTAL INDUSTRIAL** | **8122306**  |
| **TECHNOLOGY – 29.1%**  | **TECHNOLOGY – 29.1%**  | **TECHNOLOGY – 29.1%**  |
| **Computers – 7.9%**  | **Computers – 7.9%**  | **Computers – 7.9%**  |
| 24535  | Apple Inc.<sup>(a)</sup>  | 6481657  |
| 484  | Check Point Software Technologies Ltd.<sup>\*</sup>  | 73602  |
| 614  | Dell Technologies Inc., Class C Shares  | 90921  |
| 1944  | International Business Machines Corp.  | 466968  |
| 198  | Sandisk Corp.<sup>\*</sup>  | 125801  |
| 20  | Super Micro Computer Inc.<sup>\*</sup>  | 648  |
|  | Total Computers | 7239597  |
| **Semiconductors – 14.3%**  | **Semiconductors – 14.3%**  | **Semiconductors – 14.3%**  |
| 2716  | Advanced Micro Devices Inc.<sup>\*</sup>  | 543770  |
| 556  | Applied Materials Inc.  | 206999  |
| 44  | ASML Holding NV, Class NY Registered Shares, ADR  | 63825  |
| 8936  | Broadcom Inc.<sup>(a)</sup>  | 2855499  |
| 272  | Cirrus Logic Inc.<sup>\*</sup>  | 38385  |
| 7458  | Intel Corp.<sup>\*</sup>  | 340159  |
| 2356  | Lam Research Corp.  | 551045  |
| 832  | Marvell Technology Inc.  | 67966  |
| 1855  | Micron Technology Inc.  | 764946  |
| 42264  | NVIDIA Corp.<sup>(a)</sup>  | 7488758  |
| 781  | ON Semiconductor Corp.<sup>\*</sup>  | 51921  |
| 477  | Silicon Laboratories Inc.<sup>\*</sup>  | 97561  |
| 95  | Taiwan Semiconductor Manufacturing Co., Ltd., ADR  | 35585  |
|  | Total Semiconductors | 13106419  |
| **Software – 6.9%**  | **Software – 6.9%**  | **Software – 6.9%**  |
| 12621  | Microsoft Corp.<sup>(a)</sup>  | 4956771  |
| 3009  | Oracle Corp.  | 437509  |
| 3775  | Palantir Technologies Inc., Class A Shares<sup>\*</sup>  | 517892  |
| 601  | Salesforce Inc.<sup>(a)</sup>  | 117069  |
| 470  | SAP SE, ADR  | 94719  |
| 797  | ServiceNow Inc.<sup>\*</sup>  | 86084  |

---

See Notes to Financial Statements.

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations Shelter Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **TECHNOLOGY – (continued)**  | **TECHNOLOGY – (continued)**  | **TECHNOLOGY – (continued)**  |
| **Software – (continued)**  | **Software – (continued)**  | **Software – (continued)**  |
| 223  | Synopsys Inc.<sup>\*</sup>  | $92322  |
| 546  | Zoom Communications Inc., Class A Shares<sup>\*</sup>  | 40371  |
|  | Total Software | 6342737  |
|  | **TOTAL TECHNOLOGY** | **26688753**  |
| **UTILITIES – 2.6%**  | **UTILITIES – 2.6%**  | **UTILITIES – 2.6%**  |
| **Electric – 2.6%**  | **Electric – 2.6%**  | **Electric – 2.6%**  |
| 4555  | Ameren Corp.  | 515990  |
| 3696  | American Electric Power Co., Inc.  | 494599  |
| 3809  | Consolidated Edison Inc.  | 428589  |
| 11604  | PPL Corp.  | 452324  |
| 5435  | Xcel Energy Inc.  | 453061  |
|  | Total Electric | 2344563  |
| **Water – 0.0%**  | **Water – 0.0%**  | **Water – 0.0%**  |
| 1077  | Essential Utilities Inc.  | 43048  |
|  | **TOTAL UTILITIES** | **2387611**  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS**<br>**(Cost – $47,900,466)** | **89850852** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Number of**<br>**Contracts** | **Notional**<br>**Amounts** |  |  |
| **PURCHASED OPTIONS – 1.2%**  | **PURCHASED OPTIONS – 1.2%**  | **PURCHASED OPTIONS – 1.2%**  | **PURCHASED OPTIONS – 1.2%**  |
| **Index Option – 1.2%**  | **Index Option – 1.2%**  | **Index Option – 1.2%**  | **Index Option – 1.2%**  |
| 43 | $29579184  | S&P 500 Index Options, Put, @ $6,525.00, expires 03/31/2026, Counterparty: MSC  | 213710  |
| 43 | 29579184  | S&P 500 Index Options, Put, @ $6,575.00, expires 04/30/2026, Counterparty: MSC  | 413660  |
| 43 | 29579184  | S&P 500 Index Options, Put, @ $6,525.00, expires 05/29/2026, Counterparty: MSC  | 504175  |
|  |  | &nbsp;&nbsp;&nbsp; **TOTAL PURCHASED OPTIONS**<br>**(Cost – $1,341,165)** | **1131545**  |
|  |  | &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS**<br>**(Cost – $49,241,631)** | **90982397** |

---

---

| | | |
|:---|:---|:---|
| **Face Amount** |  |  |
| **SHORT-TERM INVESTMENTS – 1.9%**  | **SHORT-TERM INVESTMENTS – 1.9%**  | **SHORT-TERM INVESTMENTS – 1.9%**  |
| **TIME DEPOSITS – 1.9%**  | **TIME DEPOSITS – 1.9%**  | **TIME DEPOSITS – 1.9%**  |
| 430662 | Citibank – New York, 2.980% due 3/2/26  | 430662  |
| 1272185 | JPMorgan Chase & Co. – New York, 2.980% due 3/2/26  | 1272185  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL TIME DEPOSITS**<br>**(Cost – $1,702,847)** | **1702847**  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS – 100.9%**<br>**(Cost – $50,944,478)** | **92685244**  |
|  | Other Assets in Excess of Liabilities – (0.9)% | (871841)  |
|  | **TOTAL NET ASSETS – 100.0%** | **$91813403** |

---

See Notes to Financial Statements.

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations Shelter Fund(concluded)** 

\* Non-income producing security.

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

<u>Abbreviations used in this schedule:</u>

ADR — American Depositary Receipts

PLC — Public Limited Company

REIT — Real Estate Investment Trust

**<u>Summary of Investments by Security Sector^</u>** 

---

| | |
|:---|:---|
| Technology | 28.8%  |
| Communications | 16.8  |
| Financial | 14.7  |
| Consumer Non-cyclical | 12.0  |
| Industrial | 8.8  |
| Consumer Cyclical | 8.1  |
| Energy | 3.5  |
| Utilities | 2.6  |
| Basic Materials | 1.7  |
| Purchased Options | 1.2  |
| Short-Term Investments | 1.8  |
|  | 100.0% |

---

---

| | |
|:---|:---|
| ^<br>| As a percentage of total investments. |

---

**Schedule of Options Contracts Written**

**Equity Options** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number of** <br>**Contracts** | **Notional** <br>**Amount** | **Security Name** | **Counterparty** | **Expiration** <br>**Date** | **Exercise** <br>**Rate** | **Value**  |
| 43 | $29579184 | S&P 500 Index Options, Put | &nbsp;&nbsp;&nbsp;&nbsp; MSC | 3/31/26 | $5500.00 | $(25155)  |
| 22 | 15133536 | S&P 500 Index Options, Call | &nbsp;&nbsp;&nbsp;&nbsp; MSC | 3/31/26 | 7150.00 | (31570)  |
| 43 | 29579184 | S&P 500 Index Options, Put | &nbsp;&nbsp;&nbsp;&nbsp; MSC | 4/30/26 | 5550.00 | (82775)  |
| 22 | 15133536 | S&P 500 Index Options, Call | &nbsp;&nbsp;&nbsp;&nbsp; MSC | 4/30/26 | 7250.00 | (66550)  |
| 43 | 29579184 | S&P 500 Index Options, Put | &nbsp;&nbsp;&nbsp;&nbsp; MSC | 5/29/26 | 5500.00 | (130075)  |
| 21 | 14445648 | S&P 500 Index Options, Call | &nbsp;&nbsp;&nbsp;&nbsp; MSC | 5/29/26 | 7170.00 | (194040)  |
|  |  | &nbsp;&nbsp;&nbsp; **TOTAL OPTIONS CONTRACTS WRITTEN**<br>**(Premiums received – $827,594)** |  |  |  | **$(530165)**  |

---

<u>Counterparty Abbreviations used in this schedule:</u>

MSC — Morgan Stanley

See Notes to Financial Statements.

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations Real Assets Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – 87.5%**  | **COMMON STOCKS – 87.5%**  | **COMMON STOCKS – 87.5%**  |
| **Australia – 3.7%**  | **Australia – 3.7%**  | **Australia – 3.7%**  |
| 352640 | Atlas Arteria Ltd.  | $1204528  |
| 67780 | Charter Hall Group  | 1063183  |
| 57613 | Dalrymple Bay Infrastructure Ltd.  | 211430  |
| 194278 | Goodman Group  | 3992665  |
| 87270 | HMC Capital Ltd.  | 172472  |
| 136074 | Ingenia Communities Group  | 441061  |
| 39735 | Lifestyle Communities Ltd.<sup>\*</sup>  | 140423  |
| 163794 | NEXTDC Ltd.<sup>\*</sup>  | 1600330  |
| 349974 | Qube Holdings Ltd.  | 1246308  |
| 311135 | Scentre Group  | 846562  |
| 286882 | Stockland  | 1042715  |
| 290382 | Transurban Group  | 2961590  |
|  | Total Australia | 14923267  |
| **Belgium – 0.5%**  | **Belgium – 0.5%**  | **Belgium – 0.5%**  |
| 4035 | Elia Group SA, Class B Shares  | 642890  |
| 7643 | Titan SA  | 475226  |
| 2729 | VGP NV  | 354801  |
| 13015 | Warehouses De Pauw CVA  | 400228  |
|  | Total Belgium | 1873145  |
| **Canada – 8.6%**  | **Canada – 8.6%**  | **Canada – 8.6%**  |
| 11896 | Agnico Eagle Mines Ltd.  | 2993034  |
| 19480 | Alamos Gold Inc., Class A Shares  | 1055621  |
| 13503 | AltaGas Ltd.  | 458843  |
| 51868 | ARC Resources Ltd.  | 961856  |
| 17505 | Barrick Mining Corp.  | 888204  |
| 3620 | Cameco Corp.  | 428608  |
| 7213 | Canadian National Railway Co.  | 809275  |
| 31042 | Canadian Natural Resources Ltd.  | 1357675  |
| 3847 | Canadian Pacific Kansas City Ltd.  | 336959  |
| 43259 | Canfor Corp.<sup>\*</sup>  | 435983  |
| 43202 | Capstone Copper Corp.<sup>\*</sup>  | 446808  |
| 38032 | Chartwell Retirement Residences  | 619417  |
| 8411 | Dream Industrial Real Estate Investment Trust  | 81872  |
| 9877 | Eldorado Gold Corp.  | 458490  |
| 122709 | Enbridge Inc.  | 6518918  |
| 21260 | First Capital Real Estate Investment Trust  | 333322  |
| 12552 | GFL Environmental Inc.  | 554673  |
| 67548 | Gibson Energy Inc.  | 1451170  |
| 77308 | Hudbay Minerals Inc.  | 2190136  |
| 23467 | Ivanhoe Mines Ltd., Class A Shares<sup>\*</sup>  | 268332  |
| 37517 | Methanex Corp.  | 1895734  |
| 27380 | Nutrien Ltd.  | 2055417  |
| 6844 | Pan American Silver Corp.  | 470183  |

---

See Notes to Financial Statements.

291<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations Real Assets Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Canada – (continued)**  | **Canada – (continued)**  | **Canada – (continued)**  |
| 16527 | Pembina Pipeline Corp.  | $726229  |
| 39722 | Primaris Real Estate Investment Trust  | 531645  |
| 7501 | Rockpoint Gas Storage Inc., Class A Shares  | 155925  |
| 27249 | Sienna Senior Living Inc.  | 468963  |
| 30351 | Suncor Energy Inc.  | 1715438  |
| 10520 | TC Energy Corp.  | 675862  |
| 24635 | Teck Resources Ltd., Class B Shares  | 1448075  |
| 4223 | Waste Connections Inc.  | 726905  |
| 16771 | West Fraser Timber Co., Ltd.  | 1113232  |
|  | Total Canada | 34632804  |
| **China – 0.2%**  | **China – 0.2%**  | **China – 0.2%**  |
| 524307 | China Tower Corp., Ltd, Class H Shares<sup>(a)</sup>  | 746705  |
| **France – 1.8%**  | **France – 1.8%**  | **France – 1.8%**  |
| 22660 | Aeroports de Paris SA  | 3181627  |
| 11706 | Carmila SA  | 255736  |
| 29576 | Engie SA  | 1011378  |
| 28728 | Getlink SE  | 625127  |
| 13454 | Unibail-Rodamco-Westfield  | 1686197  |
| 13649 | Veolia Environnement SA  | 578581  |
|  | Total France | 7338646  |
| **Germany – 1.1%**  | **Germany – 1.1%**  | **Germany – 1.1%**  |
| 57574 | E.ON SE  | 1338400  |
| 5723 | Fraport AG Frankfurt Airport Services Worldwide<sup>\*</sup>  | 562892  |
| 6664 | LEG Immobilien SE  | 557449  |
| 3326 | RWE AG  | 214278  |
| 343421 | Sirius Real Estate Ltd., REIT  | 517538  |
| 57220 | TAG Immobilien AG  | 1118209  |
|  | Total Germany | 4308766  |
| **Greece – 0.3%**  | **Greece – 0.3%**  | **Greece – 0.3%**  |
| 53275 | Athens International Airport SA  | 720362  |
| 7470 | GEK TERNA SA  | 318612  |
|  | Total Greece | 1038974  |
| **Hong Kong – 1.9%**  | **Hong Kong – 1.9%**  | **Hong Kong – 1.9%**  |
| 611000 | China Gas Holdings Ltd.  | 631803  |
| 151500 | CLP Holdings Ltd.  | 1435359  |
| 38000 | Henderson Land Development Co., Ltd.  | 171874  |
| 426000 | HK Electric Investments & HK Electric Investments Ltd.  | 381510  |
| 167416 | Hongkong Land Holdings Ltd.  | 1451299  |
| 144184 | Link REIT  | 716695  |
| 98810 | Sun Hung Kai Properties Ltd.  | 1852922  |
| 243095 | Swire Properties Ltd.  | 838450  |
|  | Total Hong Kong | 7479912  |

---

See Notes to Financial Statements.

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations Real Assets Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **Ireland – 0.4%**  | **Ireland – 0.4%**  | **Ireland – 0.4%**  |
| 10172 | CRH PLC  | $1203782  |
| 9770 | Smurfit Westrock PLC  | 459288  |
|  | Total Ireland | 1663070  |
| **Italy – 1.7%**  | **Italy – 1.7%**  | **Italy – 1.7%**  |
| 358146 | Enav SpA  | 2326520  |
| 170728 | Enel SpA  | 2056980  |
| 41567 | ERG SpA  | 1225042  |
| 32255 | Infrastrutture Wireless Italiane SpA  | 342838  |
| 83358 | Terna – Rete Elettrica Nazionale  | 1004818  |
|  | Total Italy | 6956198  |
| **Japan – 2.9%**  | **Japan – 2.9%**  | **Japan – 2.9%**  |
| 54139 | Arealink Co., Ltd.  | 443790  |
| 671 | Invincible Investment Corp.  | 284738  |
| 566 | Japan Prime Realty Investment Corp.  | 386202  |
| 394 | Japan Real Estate Investment Corp.  | 328156  |
| 166 | KDX Realty Investment Corp., Class A Shares  | 180664  |
| 252 | LaSalle Logiport REIT  | 248479  |
| 51747 | Mitsubishi Estate Co., Ltd.  | 1749370  |
| 530 | Mitsui Fudosan Accommodations Fund Inc., Class A Shares  | 467812  |
| 190621 | Mitsui Fudosan Co., Ltd.  | 2564134  |
| 515 | Nippon Building Fund Inc.  | 478813  |
| 723 | Nippon Prologis REIT Inc.  | 424187  |
| 384 | Nomura Real Estate Master Fund Inc.  | 410127  |
| 4691 | Open House Group Co., Ltd.  | 347094  |
| 747 | Orix JREIT Inc.  | 497911  |
| 298 | Star Asia Investment Corp.  | 115954  |
| 76857 | Sumitomo Realty & Development Co., Ltd.  | 2595496  |
| 322 | United Urban Investment Corp.  | 382135  |
|  | Total Japan | 11905062  |
| **Luxembourg – 0.4%**  | **Luxembourg – 0.4%**  | **Luxembourg – 0.4%**  |
| 27228 | ArcelorMittal SA  | 1774176  |
| **Mexico – 1.0%**  | **Mexico – 1.0%**  | **Mexico – 1.0%**  |
| 8587 | Grupo Aeroportuario del Centro Norte SAB de CV, ADR  | 1048988  |
| 3159 | Grupo Aeroportuario del Pacifico SAB de CV, ADR  | 823741  |
| 6290 | Grupo Aeroportuario del Sureste SAB de CV, ADR  | 2262324  |
|  | Total Mexico | 4135053  |
| **Netherlands – 0.6%**  | **Netherlands – 0.6%**  | **Netherlands – 0.6%**  |
| 28695 | CTP NV  | 609520  |
| 4378 | Ferrovial SE  | 328246  |
| 24579 | Koninklijke Vopak NV  | 1351320  |
|  | Total Netherlands | 2289086  |

---

See Notes to Financial Statements.

293<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations Real Assets Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **New Zealand – 0.9%**  | **New Zealand – 0.9%**  | **New Zealand – 0.9%**  |
| 641041 | Auckland International Airport Ltd.  | $3521483  |
| 37012 | Infratil Ltd.  | 248613  |
|  | Total New Zealand | 3770096  |
| **Norway – 0.2%**  | **Norway – 0.2%**  | **Norway – 0.2%**  |
| 67298 | Norsk Hydro ASA  | 624962  |
| **Philippines – 0.1%**  | **Philippines – 0.1%**  | **Philippines – 0.1%**  |
| 36743 | International Container Terminal Services Inc.  | 456995  |
| **Singapore – 0.8%**  | **Singapore – 0.8%**  | **Singapore – 0.8%**  |
| 319561 | CapitaLand Ascendas REIT  | 679018  |
| 503377 | CapitaLand Integrated Commercial Trust  | 973940  |
| 321400 | Centurion Accommodation Reit<sup>\*</sup>  | 291878  |
| 271133 | Frasers Centrepoint Trust  | 490653  |
| 47390 | Keppel DC REIT  | 86469  |
| 232460 | NTT DC REIT<sup>\*</sup>  | 231200  |
| 99140 | Sembcorp Industries Ltd.<sup>(b)</sup>  | 479084  |
| 16286 | UOL Group Ltd.  | 145222  |
|  | Total Singapore | 3377464  |
| **South Africa – 0.4%**  | **South Africa – 0.4%**  | **South Africa – 0.4%**  |
| 20574 | Impala Platinum Holdings Ltd., ADR<sup>(b)</sup>  | 455508  |
| 10884 | Valterra Platinum Ltd.  | 1252805  |
|  | Total South Africa | 1708313  |
| **Spain – 3.7%**  | **Spain – 3.7%**  | **Spain – 3.7%**  |
| 91638 | Aena SME SA<sup>(c)</sup>  | 2892954  |
| 100212 | Cellnex Telecom SA<sup>(c)</sup>  | 3801957  |
| 129669 | EDP Renovaveis SA  | 2045872  |
| 78061 | Iberdrola SA  | 1849377  |
| 60601 | Merlin Properties Socimi SA  | 1071745  |
| 10956 | Neinor Homes SA<sup>\*</sup>  | 245865  |
| 59911 | Redeia Corp. SA  | 1113882  |
| 379885 | Sacyr SA  | 2045167  |
|  | Total Spain | 15066819  |
| **Sweden – 0.7%**  | **Sweden – 0.7%**  | **Sweden – 0.7%**  |
| 9707 | Catena AB  | 535539  |
| 16454 | Cibus Nordic Real Estate AB publ  | 278795  |
| 54368 | Dios Fastigheter AB  | 422999  |
| 166303 | Fastighets AB Balder, Class B Shares<sup>\*</sup>  | 1250676  |
| 15598 | Wihlborgs Fastigheter AB  | 165360  |
|  | Total Sweden | 2653369  |
| **Thailand – 0.1%**  | **Thailand – 0.1%**  | **Thailand – 0.1%**  |
| 295800 | Airports of Thailand PCL<sup>(d)</sup>  | 518697  |
| **United Kingdom – 6.4%**  | **United Kingdom – 6.4%**  | **United Kingdom – 6.4%**  |
| 51835 | Anglo American PLC  | 2579515  |
| 10643 | Big Yellow Group PLC  | 148696  |

---

See Notes to Financial Statements.

294<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations Real Assets Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **United Kingdom – (continued)**  | **United Kingdom – (continued)**  | **United Kingdom – (continued)**  |
| 327315 | BP PLC  | $2116393  |
| 23711 | BP PLC, ADR  | 921409  |
| 72191 | CNH Industrial NV  | 887949  |
| 5978 | Derwent London PLC  | 146127  |
| 128227 | Helios Towers PLC<sup>\*</sup>  | 346437  |
| 59197 | Land Securities Group PLC  | 513696  |
| 308977 | LondonMetric Property PLC  | 893226  |
| 247220 | National Grid PLC  | 4634112  |
| 225981 | Pennon Group PLC  | 1821864  |
| 19259 | Rio Tinto PLC  | 1914547  |
| 22268 | Segro PLC  | 252190  |
| 11550 | Severn Trent PLC  | 510463  |
| 268162 | Shaftesbury Capital PLC  | 558295  |
| 44363 | Shell PLC  | 1844874  |
| 36441 | SSE PLC  | 1321376  |
| 338199 | Tritax Big Box REIT PLC  | 782668  |
| 42401 | UNITE Group PLC  | 287758  |
| 173191 | United Utilities Group PLC  | 3253316  |
|  | Total United Kingdom | 25734911  |
| **United States – 49.1%**  | **United States – 49.1%**  | **United States – 49.1%**  |
| 30009 | Acadia Realty Trust  | 627788  |
| 14954 | Agree Realty Corp.  | 1203498  |
| 27017 | Alcoa Corp.  | 1677215  |
| 17468 | Alliant Energy Corp.  | 1263635  |
| 9584 | Ameren Corp.  | 1085676  |
| 39911 | American Electric Power Co., Inc.  | 5340890  |
| 17926 | American Healthcare REIT Inc.  | 936454  |
| 23627 | American Homes 4 Rent, Class A Shares  | 708810  |
| 7129 | American Tower Corp.  | 1367770  |
| 30156 | Antero Resources Corp.<sup>\*</sup>  | 1110042  |
| 14911 | Archer-Daniels-Midland Co.  | 1029455  |
| 7160 | Arcosa Inc.  | 769557  |
| 10431 | AvalonBay Communities Inc.  | 1848686  |
| 15402 | Black Hills Corp.  | 1134511  |
| 23214 | Brixmor Property Group Inc.  | 702688  |
| 29259 | Broadstone Net Lease Inc., Class A Shares  | 567332  |
| 19034 | Bunge Global SA  | 2296452  |
| 3521 | BXP Inc.  | 202739  |
| 4479 | Camden Property Trust  | 485255  |
| 27334 | CareTrust REIT Inc.  | 1110307  |
| 724 | Casella Waste Systems Inc., Class A Shares<sup>\*</sup>  | 67448  |
| 912 | Caterpillar Inc.  | 677461  |
| 2743 | CBRE Group Inc., Class A Shares<sup>\*</sup>  | 405031  |

---

See Notes to Financial Statements.

295<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations Real Assets Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **United States – (continued)**  | **United States – (continued)**  | **United States – (continued)**  |
| 31644 | CenterPoint Energy Inc.  | $1376514  |
| 17793 | CF Industries Holdings Inc.  | 1771115  |
| 17363 | Cheniere Energy Inc.  | 4092980  |
| 4608 | Chord Energy Corp.  | 499369  |
| 30329 | CMS Energy Corp.  | 2367785  |
| 54306 | Coeur Mining Inc.<sup>\*</sup>  | 1474408  |
| 31633 | ConocoPhillips  | 3589080  |
| 1082 | Constellation Energy Corp.  | 356930  |
| 13217 | Core Natural Resources Inc.  | 1084851  |
| 26361 | Corteva Inc.  | 2112043  |
| 3459 | Cousins Properties Inc.  | 80110  |
| 35328 | Crescent Energy Co., Class A Shares  | 411925  |
| 25999 | Crown Castle Inc.  | 2327951  |
| 29623 | CSX Corp.  | 1264606  |
| 11542 | CubeSmart  | 474838  |
| 11779 | Curbline Properties Corp.  | 327574  |
| 19085 | Darling Ingredients Inc.<sup>\*</sup>  | 1014559  |
| 765 | Deere & Co.  | 481728  |
| 20807 | Diamondback Energy Inc.  | 3622083  |
| 12440 | Digital Realty Trust Inc.  | 2204368  |
| 28869 | Dominion Energy Inc.  | 1822789  |
| 8379 | Douglas Emmett Inc.  | 82868  |
| 2367 | DT Midstream Inc.  | 328634  |
| 5650 | EastGroup Properties Inc.  | 1109152  |
| 12168 | Empire State Realty Trust Inc., Class A Shares  | 71548  |
| 33265 | Entergy Corp.  | 3563014  |
| 1207 | EPR Properties  | 71708  |
| 8220 | Equinix Inc.  | 8008417  |
| 6170 | Equity LifeStyle Properties Inc.  | 414377  |
| 16727 | Equity Residential  | 1057314  |
| 23706 | Essential Properties Realty Trust Inc.  | 804582  |
| 59169 | Essential Utilities Inc.  | 2364985  |
| 6531 | Essex Property Trust Inc.  | 1666123  |
| 11243 | Evergy Inc.  | 940589  |
| 48099 | Exelon Corp.  | 2379458  |
| 16688 | Expand Energy Corp.  | 1800969  |
| 5306 | Extra Space Storage Inc.  | 801365  |
| 13397 | Exxon Mobil Corp.  | 2043043  |
| 5905 | Federal Realty Investment Trust  | 642287  |
| 26209 | First Industrial Realty Trust Inc.  | 1654836  |
| 8604 | Four Corners Property Trust Inc.  | 219574  |
| 31704 | Freeport-McMoRan Inc.  | 2158408  |
| 20474 | Gaming & Leisure Properties Inc.  | 1001383  |

---

See Notes to Financial Statements.

296<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations Real Assets Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **United States – (continued)**  | **United States – (continued)**  | **United States – (continued)**  |
| 36699 | GO Residential Real Estate Investment Trust  | $389743  |
| 31874 | Helmerich & Payne Inc.  | 1122602  |
| 11084 | Highwoods Properties Inc.  | 249279  |
| 3252 | Hyatt Hotels Corp., Class A Shares  | 525198  |
| 2203 | IDACORP Inc.  | 317166  |
| 64514 | International Paper Co.  | 2809585  |
| 50925 | Invitation Homes Inc.  | 1341365  |
| 24257 | Iron Mountain Inc.  | 2627761  |
| 387 | Jones Lang LaSalle Inc.<sup>\*</sup>  | 122118  |
| 16100 | Kilroy Realty Corp.  | 480102  |
| 64591 | Kimbell Royalty Partners LP  | 926235  |
| 24171 | Kimco Realty Corp.  | 569227  |
| 80556 | Kinder Morgan Inc.  | 2680098  |
| 2364 | Lamar Advertising Co., Class A Shares  | 325617  |
| 2472 | Lineage Inc.  | 100165  |
| 6355 | Louisiana-Pacific Corp.  | 538523  |
| 3337 | LXP Industrial Trust  | 165382  |
| 57276 | Macerich Co.  | 1172440  |
| 6620 | Marathon Petroleum Corp.  | 1312150  |
| 2130 | Mid-America Apartment Communities Inc.  | 285122  |
| 533 | Millrose Properties Inc.  | 16715  |
| 32681 | Mosaic Co.  | 909839  |
| 69239 | NETSTREIT Corp.  | 1438094  |
| 32887 | Newmont Corp.  | 4275310  |
| 61769 | NextEra Energy Inc.  | 5792079  |
| 55860 | NiSource Inc.  | 2642178  |
| 3924 | NNN REIT Inc.  | 177836  |
| 4162 | NRG Energy Inc.  | 744832  |
| 3436 | Nucor Corp.  | 607760  |
| 33621 | ONEOK Inc.  | 2782810  |
| 9134 | Ovintiv Inc.  | 462089  |
| 5748 | Packaging Corp. of America  | 1334341  |
| 25692 | Peabody Energy Corp.  | 810326  |
| 121412 | Permian Resources Corp., Class A Shares  | 2220626  |
| 141791 | PG&E Corp.  | 2694029  |
| 9575 | Phillips 66  | 1477710  |
| 42241 | Prologis Inc.  | 6022299  |
| 9905 | Public Storage  | 3041429  |
| 7439 | Realty Income Corp.  | 498413  |
| 1348 | Republic Services Inc., Class A Shares  | 308692  |
| 26157 | Rexford Industrial Realty Inc.  | 980103  |
| 4814 | Royal Gold Inc.  | 1443189  |
| 5166 | Ryman Hospitality Properties Inc.  | 510143  |

---

See Notes to Financial Statements.

297<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations Real Assets Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  | **COMMON STOCKS – (continued)**  |
| **United States – (continued)**  | **United States – (continued)**  | **United States – (continued)**  |
| 7953 | Sabra Health Care REIT Inc.  | $163434  |
| 50393 | Sempra  | 4851334  |
| 19993 | Simon Property Group Inc.  | 4075573  |
| 9628 | SL Green Realty Corp.  | 354792  |
| 47552 | SLB Ltd.  | 2441320  |
| 4118 | Smartstop Self Storage REIT Inc.  | 137335  |
| 4240 | Spire Inc.  | 388426  |
| 24596 | SSR Mining Inc.<sup>\*</sup>  | 790901  |
| 5461 | STAG Industrial Inc.  | 214180  |
| 8941 | Steel Dynamics Inc.  | 1726775  |
| 7241 | Sun Communities Inc.  | 988107  |
| 19158 | Sunstone Hotel Investors Inc.  | 177786  |
| 4187 | Targa Resources Corp.  | 987295  |
| 2186 | Union Pacific Corp.  | 579246  |
| 15910 | Unit Corp.<sup>(d)</sup>  | 537917  |
| 17945 | Urban Edge Properties  | 381331  |
| 6583 | Valero Energy Corp.  | 1347145  |
| 47862 | Ventas Inc.  | 4123790  |
| 10788 | Veris Residential Inc.  | 203354  |
| 87543 | VICI Properties Inc., Class A Shares  | 2644674  |
| 2697 | Vistra Corp.  | 468981  |
| 4353 | Waste Management Inc.  | 1048377  |
| 4647 | Weatherford International PLC  | 490073  |
| 1315 | WEC Energy Group Inc.  | 153802  |
| 43797 | Welltower Inc.  | 9071235  |
| 12994 | Weyerhaeuser Co.  | 318743  |
| 25514 | Williams Cos., Inc.  | 1906406  |
| 13372 | WP Carey Inc.  | 998220  |
| 6028 | Wyndham Hotels & Resorts Inc.  | 493090  |
| 53924 | Xcel Energy Inc.  | 4495105  |
|  | Total United States | 198370407  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>**(Cost – $289,085,484)** | **353346897**  |
| **EXCHANGE TRADED FUNDS (ETFs) – 10.7%** | **EXCHANGE TRADED FUNDS (ETFs) – 10.7%** | **EXCHANGE TRADED FUNDS (ETFs) – 10.7%** |
| **United States – 10.7%**  | **United States – 10.7%**  | **United States – 10.7%**  |
| 830564 | Pimco Commodity Strategy Active Exchange-Traded Fund  | 24684362  |
| 102898 | SPDR Gold MiniShares Trust<sup>\*</sup>  | 10715798  |
| 67947 | VanEck Gold Miners  | 7870980  |
|  | Total United States | 43271140  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL EXCHANGE TRADED FUNDS (ETFs)** <br>**(Cost – $35,711,289)** | **43271140**  |

---

See Notes to Financial Statements.

298<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations Real Assets Fund(continued)** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value**  |
| **LIMITED PARTNERSHIP – 0.1%**  | **LIMITED PARTNERSHIP – 0.1%**  | **LIMITED PARTNERSHIP – 0.1%**  |
| **United States – 0.1%**  | **United States – 0.1%**  | **United States – 0.1%**  |
| 29677 | &nbsp;&nbsp;&nbsp; Energy Transfer LP <br>(Cost – $529,925) | $559115  |
| **CLOSED-END FUND – 0.1%**  | **CLOSED-END FUND – 0.1%**  | **CLOSED-END FUND – 0.1%**  |
| **Jersey, Channel Islands – 0.1%**  | **Jersey, Channel Islands – 0.1%**  | **Jersey, Channel Islands – 0.1%**  |
| 34167 | &nbsp;&nbsp;&nbsp; 3i Infrastructure PLC <br>(Cost – $143,541) | 165638  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS** <br>**(Cost – $325,470,239)** | **397342790**  |
| **Face Amount†** |  |  |
| **SHORT-TERM INVESTMENTS – 1.6%**  | **SHORT-TERM INVESTMENTS – 1.6%**  | **SHORT-TERM INVESTMENTS – 1.6%**  |
| **TIME DEPOSITS – 1.6%**  | **TIME DEPOSITS – 1.6%**  | **TIME DEPOSITS – 1.6%**  |
|  | ANZ National Bank – Hong Kong:<br>|  |
| 243<sup>HKD</sup> | &nbsp;&nbsp;&nbsp; 0.660% due 3/2/26  | 31  |
| 36215<sup>AUD</sup> | &nbsp;&nbsp;&nbsp; 2.500% due 3/2/26  | 25770  |
|  | Brown Brothers Harriman – Grand Cayman:<br>|  |
| 68<sup>CAD</sup> | &nbsp;&nbsp;&nbsp; 1.100% due 3/2/26  | 50  |
| 23<sup>NZD</sup> | &nbsp;&nbsp;&nbsp; 1.400% due 3/2/26  | 13  |
| 106<sup>NOK</sup> | &nbsp;&nbsp;&nbsp; 2.700% due 3/2/26  | 11  |
|  | Citibank – London:<br>|  |
| 154<sup>EUR</sup> | &nbsp;&nbsp;&nbsp; 0.880% due 3/2/26  | 182  |
| 196<sup>GBP</sup> | &nbsp;&nbsp;&nbsp; 2.680% due 3/2/26  | 264  |
| 5636719 | Citibank – New York, 2.980% due 3/2/26  | 5636719  |
| 5<sup>SGD</sup> | Hong Kong & Shanghai Bank – Singapore, 0.280% due 3/2/26  | 4  |
| 768603 | JPMorgan Chase & Co. – New York, 2.980% due 3/2/26  | 768603  |
| 90<sup>SEK</sup> | Skandinaviska Enskilda Banken AB – Stockholm, 0.670% due 3/2/26  | 10  |
| 1649<sup>JPY</sup> | Sumitomo Mitsui Banking Corp. – Tokyo, 0.200% due 3/2/26  | 11  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL TIME DEPOSITS** <br>**(Cost – $6,431,668)** | **6431668**  |
| **Shares/Units** |  |  |
| **INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 0.1%**  | **INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 0.1%**  | **INVESTMENTS PURCHASED WITH CASH PROCEEDS FROM SECURITIES LENDING – 0.1%**  |
| **MONEY MARKET FUND – 0.1%**  | **MONEY MARKET FUND – 0.1%**  | **MONEY MARKET FUND – 0.1%**  |
| 477874 | &nbsp;&nbsp;&nbsp; Federated Government Obligations Fund, Premier Class, 3.593%<sup>(e)</sup> <br>(Cost – $477,874) | 477874  |
|  | &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS – 100.1%** <br>**(Cost – $332,379,781)** | **404252332**  |
|  | Liabilities in Excess of Other Assets – (0.1)% | (235404)  |
|  | **TOTAL NET ASSETS – 100.0%** | **$404016928** |

---

&nbsp;&nbsp;&nbsp;&nbsp;† Face amount denominated in U.S. dollars, unless
 otherwise noted.

\* Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(a) Security trades on the Hong Kong exchange.

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

See Notes to Financial Statements.

299<br>

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**Schedules of Investments** 

**February 28, 2026** 

**Destinations Real Assets Fund(concluded)** 

&nbsp;&nbsp;&nbsp;&nbsp;(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 February 28, 2026, amounts to $6,694,911 and represents 1.66% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Illiquid security. The aggregate value of illiquid
 holdings at February 28, 2026, amounts to $1,056,614 and represents 0.26% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Represents investment of collateral received from
 securities lending transactions.

<u>Abbreviations used in this schedule:</u>

ADR — American Depositary Receipts

LP — Limited Partnership

PCL — Public Company Limited

PLC — Public Limited Company

REIT — Real Estate Investment Trust

SPDR — Standard & Poor's Depository Receipts

**<u>Summary of Investments by Security Sector^</u>** 

---

| | |
|:---|:---|
| Financial  | 29.4%  |
| Utilities  | 18.2  |
| Energy  | 15.3  |
| Basic Materials  | 10.7  |
| Industrial  | 10.2  |
| Consumer Non-cyclical  | 3.0  |
| Communications  | 0.4  |
| Consumer Cyclical  | 0.4  |
| Exchange Traded Funds (ETFs) | 10.7  |
| Closed-End Fund | 0.0<sup>\*</sup>  |
| Short-Term Investments | 1.6  |
| Money Market Fund | 0.1  |
|  | 100.0% |

---

---

| | |
|:---|:---|
| ^<br>| As a percentage of total investments. |

---

\* Position represents less than 0.05%.

<u>Currency Abbreviations used in this schedule:</u>

AUD

— Australian Dollar

CAD

— Canadian Dollar

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

See Notes to Financial Statements.

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**Ratings (unaudited)** 

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

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

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

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

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

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

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

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

P — Preliminary rating.

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

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

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

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

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

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

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

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

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

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.

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**[**TABLE OF CONTENTS**](#TOC)**

**Ratings (unaudited)(concluded)** 

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.

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.

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**[**TABLE OF CONTENTS**](#TOC)**

**Statements of Assets and Liabilities** 

**February 28, 2026** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Destinations** <br>**Large Cap** <br>**Equity** <br>**Fund** | **Destinations** <br>**Small-Mid** <br>**Cap Equity** <br>**Fund** | **Destinations** <br>**International** <br>**Equity Fund** | **Destinations** <br>**Equity Income** <br>**Fund** | **Destinations** <br>**Core Fixed** <br>**Income** <br>**Fund**  |
| **ASSETS:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments, at value<sup>(1),(2)</sup> | $3481658360 | $753314916 | $2193207496  | &nbsp;&nbsp; $521246931 | $1574383044  |
| &nbsp;&nbsp;&nbsp; Foreign currency, at value<sup>(3)</sup> | 77 |  | 2367997 | &nbsp;&nbsp; 71 | —  |
| &nbsp;&nbsp;&nbsp; Cash |  |  |  | &nbsp;&nbsp; — | 99  |
| &nbsp;&nbsp;&nbsp; Receivable for securities sold | 29010120 | 3736687 | 10285347 | &nbsp;&nbsp; 492928 | 55760965  |
| &nbsp;&nbsp;&nbsp; Dividends and interest receivable | 3131704 | 457872 | 8995818 | &nbsp;&nbsp; 1781290 | 9440830  |
| &nbsp;&nbsp;&nbsp; Receivable for Fund shares sold | 556618 | 128024 | 317224 | &nbsp;&nbsp; 52831 | 310636  |
| &nbsp;&nbsp;&nbsp; Variation margin on open future contracts (Note 4) |  |  |  | &nbsp;&nbsp; — | 22451  |
| &nbsp;&nbsp;&nbsp; Cash held at Broker | 319503<sup>(4)</sup> | 144950<sup>(4)</sup> | 186870<sup>(4)</sup> | &nbsp;&nbsp; — | 1784474<sup>(7)</sup>  |
| &nbsp;&nbsp;&nbsp; Prepaid expenses |  |  | 10337 | &nbsp;&nbsp; 1920 | —  |
| &nbsp;&nbsp;&nbsp; **Total Assets** | **3514676382** | **757782449** | **2215371089**  | &nbsp;&nbsp; **523575971** | **1641702499**  |
| **LIABILITIES:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Payable for collateral received from securities on loan |  | 5692844 | 15763800 | &nbsp;&nbsp; 5423 | 618657  |
| &nbsp;&nbsp;&nbsp; Payable for Fund shares repurchased | 2098426 | 411813 | 1228850 | &nbsp;&nbsp; 194344 | 1056449  |
| &nbsp;&nbsp;&nbsp; Payable for securities purchased | 16083607 | 3769780 | 9744181  | &nbsp;&nbsp; 5390013 | 106118458  |
| &nbsp;&nbsp;&nbsp; Investment management fee payable | 1621011 | 425004 | 1151898 | &nbsp;&nbsp; 281872 | 674315  |
| &nbsp;&nbsp;&nbsp; Transfer agent fees payable | 812163 | 181679 | 447933 | &nbsp;&nbsp; 109689 | 366036  |
| &nbsp;&nbsp;&nbsp; Custody fee payable | 112879 | 59995 | 199403 | &nbsp;&nbsp; 29446 | 113975  |
| &nbsp;&nbsp;&nbsp; Trustees' fees payable | 2018 | 372 | 1056 | &nbsp;&nbsp; 258 | 869  |
| &nbsp;&nbsp;&nbsp; Registration fees payable | 10201 | 13292 | 2657 | &nbsp;&nbsp; 16908 | 14732  |
| &nbsp;&nbsp;&nbsp; Shareholder services | 18318 | 33348 | 4232 | &nbsp;&nbsp; 26675 | 15405  |
| &nbsp;&nbsp;&nbsp; Variation margin on open future contracts (Note 4) | 18749 | 24799 | 14171 | &nbsp;&nbsp; — | —  |
| &nbsp;&nbsp;&nbsp; Variation margin on open swap contracts (Note 4) |  |  |  | &nbsp;&nbsp; — | 1940921  |
| &nbsp;&nbsp;&nbsp; Unrealized depreciation on unfunded loan commitments |  |  |  | &nbsp;&nbsp; — | 26  |
| &nbsp;&nbsp;&nbsp; Forward sale commitments<sup>(5)</sup> (Note 5) |  |  |  | &nbsp;&nbsp; — | 19336394  |
| &nbsp;&nbsp;&nbsp; Due to custodian | 471 | 82 | 265 | &nbsp;&nbsp; 101 | —  |
| &nbsp;&nbsp;&nbsp; Options contracts written, at value<sup>(6)</sup> (Note 4) |  |  |  | &nbsp;&nbsp; 43469 | —  |
| &nbsp;&nbsp;&nbsp; Foreign capital gains tax payable |  |  | 2708864 | &nbsp;&nbsp; — | —  |
| &nbsp;&nbsp;&nbsp; Accrued Chief Compliance Officer expenses | 4993 | 1940 | 1331 | &nbsp;&nbsp; 532 | 727  |
| &nbsp;&nbsp;&nbsp; Accrued expenses | 336599 | 63681 | 369194  | &nbsp;&nbsp; 30766 | 285480  |
| &nbsp;&nbsp;&nbsp; **Total Liabilities** | **21119435** | **10678629** | **31637835**  | &nbsp;&nbsp; **6129496** | **130542444**  |
| **Total Net Assets** | **$3493556947** | **$747103820** | **$2183733254**  | &nbsp;&nbsp; **$517446475** | **$1511160055**  |
| **NET ASSETS:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Par value | $224212 | $49442 | $133702 | &nbsp;&nbsp; $34382 | $174851  |
| &nbsp;&nbsp;&nbsp; Paid-in capital in excess of par value | 2724467581 | 556760120 | 1430347342 | &nbsp;&nbsp; 369651009 | 1838632324  |
| &nbsp;&nbsp;&nbsp; Total distributable earnings (losses) | 768865154 | 190294258 | 753252210  | &nbsp;&nbsp; 147761084 | (327647120)  |
| **Total Net Assets** | **$3493556947** | **$747103820** | **$2183733254**  | &nbsp;&nbsp; **$517446475** | **$1511160055**  |
| **Total Net Assets Class I** | **$3160918078** | **$676973013** | **$1970203361**  | &nbsp;&nbsp; **$475585352** | **$1373310139**  |
| **Total Net Assets Class Z** | **$332638869** | **$70130807** | **$213529893**  | &nbsp;&nbsp; **$41861123** | **$137849916**  |
| **Shares Outstanding Class I** | **194499927** | **43041123** | **118415401** | &nbsp;&nbsp; **31497538** | **159353710**  |
| **Shares Outstanding Class Z** | **29711576** | **6400974** | **15287098** | &nbsp;&nbsp; **2884220** | **15497300**  |
| **Net Asset Value Class I** | **$16.25** | **$15.73** | **$16.64** | &nbsp;&nbsp; **$15.10** | **$8.62**  |
| **Net Asset Value Class Z** | **$11.20** | **$10.96** | **$13.97** | &nbsp;&nbsp; **$14.51** | **$8.90**  |
| (1) Investments, at cost | $2738698058 | $574186615 | $1472504341  | &nbsp;&nbsp; $388053395 | $1660994102  |
| (2) Includes securities on loan | $— | $5003965 | $15224715 | &nbsp;&nbsp; $5360 | $596054  |
| (3) Foreign currency, at cost | $70 | $— | $2372990 | &nbsp;&nbsp; $72 | $—  |
| (4) Related to futures contracts | $319503 | $144950 | $186870 | &nbsp;&nbsp; $— | $—  |
| (5) Proceeds received | $— | $— | $— | &nbsp;&nbsp; $— | $19183217  |
| (6) Premiums received | $— | $— | $— | &nbsp;&nbsp; $20260 | $—  |
| (7) Related to swap contracts | $— | $— | $— | &nbsp;&nbsp; $— | $1784474  |
| (8) Related to securities sold short | $— | $— | $— | &nbsp;&nbsp; $— | $— |

---

See Notes to Financial Statements.

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**[**TABLE OF CONTENTS**](#TOC)**

**Statements of Assets and Liabilities** 

**February 28, 2026(concluded)** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Destinations** <br>**Low Duration** <br>**Fixed Income** <br>**Fund** | **Destinations** <br>**Global Fixed** <br>**Income** <br>**Opportunities** <br>**Fund** | **Destinations** <br>**Municipal** <br>**Fixed Income** <br>**Fund** | **Destinations** <br>**Multi Strategy** <br>**Alternatives** <br>**Fund** | **Destinations** <br>**Shelter** <br>**Fund** | **Destinations** <br>**Real Assets** <br>**Fund**  |
| **ASSETS:** <br>|  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments, at value<sup>(1),(2)</sup> | $287959713 | $706620239 | $650350955 | $508141665 | $92685244 | $404252332  |
| &nbsp;&nbsp;&nbsp; Foreign currency, at value<sup>(3)</sup> |  | 1600 |  |  |  | 97  |
| &nbsp;&nbsp;&nbsp; Cash  | —  | —  | —  | —  | —  | 105324 |
| &nbsp;&nbsp;&nbsp; Receivable for securities sold | 176878 | 5559734 |  |  | 321950 | 1366000  |
| &nbsp;&nbsp;&nbsp; Dividends and interest receivable | 1834020 | 10542666 | 6674244 | 363293 | 87102 | 758803  |
| &nbsp;&nbsp;&nbsp; Receivable for Fund shares sold | 140236 | 302083 | 79010 | 135431 | 3265 | 71747  |
| &nbsp;&nbsp;&nbsp; Unrealized appreciation on open forward foreign currency contracts (Note 4) |  | 1164207 |  |  |  | —  |
| &nbsp;&nbsp;&nbsp; Unrealized appreciation on swap contracts (Note 4) |  |  |  | 365240 |  | —  |
| &nbsp;&nbsp;&nbsp; Upfront premiums paid on swap contracts |  |  |  | 9144900 |  | —  |
| &nbsp;&nbsp;&nbsp; Deposits with counterparty |  | 3487500<sup>(8)</sup> |  | 10663778<sup>(7)</sup> |  | —  |
| &nbsp;&nbsp;&nbsp; Cash held at Broker |  | 7325203<sup>(8)</sup> |  | 15805622<sup>(8)</sup> |  | —  |
| &nbsp;&nbsp;&nbsp; Prepaid expenses |  |  |  |  | 38 | 142  |
| &nbsp;&nbsp;&nbsp; **Total Assets** | **290110847** | **735003232** | **657104209** | **544619929** | **93097599** | **406554445**  |
| **LIABILITIES:**<br>|  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Payable for collateral received from securities on loan | 4109478 | 13699494 | 13214025 |  |  | 477874  |
| &nbsp;&nbsp;&nbsp; Payable for Fund shares repurchased | 148497 | 419685 | 287765 | 301978 | 21659 | 215977  |
| &nbsp;&nbsp;&nbsp; Payable for securities purchased | 10787690 | 10598752 | 5169124 |  | 517304 | 1509146  |
| &nbsp;&nbsp;&nbsp; Investment management fee payable | 81809 | 431658 | 309076 | 455272 | 53615 | 215008  |
| &nbsp;&nbsp;&nbsp; Transfer agent fees payable | 95183 | 171321 | 136222 | 143792 | 51524 | 53153  |
| &nbsp;&nbsp;&nbsp; Custody fee payable | 34082 | 50775 | 41394 | 31361 | 12154 | 49500  |
| &nbsp;&nbsp;&nbsp; Trustees' fees payable | 160 | 389 | 368 | 311 | 53 | 189  |
| &nbsp;&nbsp;&nbsp; Registration fees payable | 10835 | 7972 | 10502 | 32309 | 71936 | —  |
| &nbsp;&nbsp;&nbsp; Shareholder services | 33734 | 73626 | 9274 | 31775 |  | —  |
| &nbsp;&nbsp;&nbsp; Upfront premiums received on swap contracts |  |  |  | 3918000 |  | —  |
| &nbsp;&nbsp;&nbsp; Unrealized depreciation on swap contracts (Note 4) |  |  |  | 703256 |  | —  |
| &nbsp;&nbsp;&nbsp; Securities sold short<sup>(5)</sup> (Note 5) |  | 4939009 |  | 7343298 |  | —  |
| &nbsp;&nbsp;&nbsp; Due to custodian | 151 | 308 | 4387 |  | 171 |  |
| &nbsp;&nbsp;&nbsp; Options contracts written, at value<sup>(6)</sup> (Note 4) |  | 191510 |  |  | 530165 | —  |
| &nbsp;&nbsp;&nbsp; Unrealized depreciation on open forward foreign currency contracts (Note 4) | 189360 | 455822 |  |  |  | —  |
| &nbsp;&nbsp;&nbsp; Investment interest payable on securities sold short |  | 33872 |  |  |  | —  |
| &nbsp;&nbsp;&nbsp; Accrued Chief Compliance Officer expenses | 131 | 326 | 300 | 424 | 43 | 209  |
| &nbsp;&nbsp;&nbsp; Accrued expenses | 62838 | 61175 | 55794 | 27429 | 25572 | 16461  |
| &nbsp;&nbsp;&nbsp; **Total Liabilities** | **15553948** | **31135694** | **19238231** | **12989205** | **1284196** | **2537517**  |
| **Total Net Assets** | **$274556899** | **$703867538** | **$637865978** | **$531630724** | **$91813403** | **$404016928**  |
| **NET ASSETS:**<br>|  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Par value | $29254 | $74329 | $65181 | $51919 | $7020 | $144512  |
| &nbsp;&nbsp;&nbsp; Paid-in capital in excess of par value | 303259874 | 749789058 | 666068329 | 525490805 | 66799829 | 328191238  |
| &nbsp;&nbsp;&nbsp; Total distributable earnings (losses) | (28732229) | (45995849) | (28267532) | 6088000 | 25006554 | 75681178  |
| **Total Net Assets** | **$274556899** | **$703867538** | **$637865978** | **$531630724** | **$91813403** | **$404016928**  |
| **Total Net Assets Class I** | **$252499818** | **$649035884** | **$596878623** | **$488256800** | **$89918449** | **$369884112**  |
| **Total Net Assets Class Z** | **$22057081** | **$54831654**  | **$40987355** | **$43373924** | **$1894954** | **$34132816**  |
| **Shares Outstanding Class I** | **26966679** | **68664901** | **61012605** | **47563799** | **6873142** | **130866063**  |
| **Shares Outstanding Class Z** | **2287320** | **5664589** | **4168052** | **4355694** | **146604** | **13646077**  |
| **Net Asset Value Class I** | **$9.36** | **$9.45** | **$9.78** | **$10.27** | **$13.08** | **$2.83**  |
| **Net Asset Value Class Z** | **$9.64** | **$9.68** | **$9.83** | **$9.96** | **$12.93** | **$2.50**  |
| (1) Investments, at cost | $294481824 | $713409871 | $639021149 | $502738230 | $50944478 | $332379781  |
| (2) Includes securities on loan | $3348499 | $12004496 | $12935835 | $— | $— | $477918  |
| (3) Foreign currency, at cost | $— | $1653 | $— | $— | $— | $97  |
| (4) Related to futures contracts | $— | $— | $— | $— | $— | $—  |
| (5) Proceeds received | $— | $4854228 | $— | $6902963 | $— | $—  |
| (6) Premiums received | $— | $224860 | $— | $— | $827594 | $—  |
| (7) Related to swap contracts | $— | $— | $— | $10663778 | $— | $—  |
| (8) Related to securities sold short | $— | $10812703 | $— | $15805622 | $— | $— |

---

See Notes to Financial Statements.

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**[**TABLE OF CONTENTS**](#TOC)**

**Statements of Operations** 

**For the Year Ended February 28, 2026** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Destinations** <br>**Large Cap** <br>**Equity** <br>**Fund** | **Destinations** <br>**Small-Mid** <br>**Cap Equity** <br>**Fund** | **Destinations** <br>**International** <br>**Equity** <br>**Fund** | **Destinations** <br>**Equity** <br>**Income** <br>**Fund** | **Destinations** <br>**Core Fixed** <br>**Income** <br>**Fund**  |
| **INVESTMENT INCOME:** <br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends | $39174580 | $7920142 | $56771064 | $15686881 | $1153894  |
| &nbsp;&nbsp;&nbsp; Interest | 1373074 | 521828 | 1160926 | 396510 | 75354646  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income from securities lending (net of any rebate or fees paid to <br>borrowers) | 21064 | 117617 | 131340 | 25861 | 1347  |
| &nbsp;&nbsp;&nbsp; Less: Foreign taxes withheld (Note 5) | (540516) | (10060) | (5733965) | (596874) | —  |
| &nbsp;&nbsp;&nbsp; **Total Investment Income** | **40028202** | **8549527** | **52329365** | **15512378** | **76509887**  |
| **EXPENSES:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investment management fee (Note 7) | 26949711 | 6167141 | 19608395 | 3843205 | 10223479  |
| &nbsp;&nbsp;&nbsp; Transfer agent fees | 4978603 | 982011 | 2734468 | 709895 | 2207373  |
| &nbsp;&nbsp;&nbsp; Custody fees | 705828 | 344374 | 1285437 | 183944 | 684054  |
| &nbsp;&nbsp;&nbsp; Trustees' fees | 401216 | 75546 | 214958 | 52309 | 172130  |
| &nbsp;&nbsp;&nbsp; Insurance | 106634 | 20931 | 50277 | 13045 | 46298  |
| &nbsp;&nbsp;&nbsp; Audit and tax | 70926 | 42119 | 41847 | 56270 | 53692  |
| &nbsp;&nbsp;&nbsp; Legal expense | 384446 | 75605 | 174124 | 49945 | 167094  |
| &nbsp;&nbsp;&nbsp; Printing expense | 162 |  |  |  | —  |
| &nbsp;&nbsp;&nbsp; Chief Compliance Officer expense | 308011 | 59515 | 158802 | 39263 | 135702  |
| &nbsp;&nbsp;&nbsp; Shareholder reports fees | 156 | 51 | 51 | 153 | 156  |
| &nbsp;&nbsp;&nbsp; Shareholder services | 149189 | 77993 | 5946 | 70580 | 76734  |
| &nbsp;&nbsp;&nbsp; Registration fees | 91614 | 54899 | 62157 | 60095 | 75104  |
| &nbsp;&nbsp;&nbsp; Miscellaneous expense | 1298799 | 217228 | 495941 | 75319 | 153060  |
| &nbsp;&nbsp;&nbsp; Interest and dividend expense | 15765 | 9210 | 26139 | 5822 | 20409  |
| &nbsp;&nbsp;&nbsp; **Total Expenses** | **35461060** | **8126623** | **24858542** | **5159845** | **14015285**  |
| &nbsp;&nbsp;&nbsp; Less: Fee waivers and/or expense reimbursement (Note 7) | (5281393) | (632999) | (4242706) | (541714) | (543987)  |
| &nbsp;&nbsp;&nbsp; **Net Expenses** | **30179667** | **7493624** | **20615836** | **4618131** | **13471298**  |
| **Net Investment Income (Loss)** | **$9848535** | **$1055903** | **$31713529** | **$10894247** | **$63038589**  |
|  **REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES CONTRACTS, UNFUNDED LOAN COMMITMENTS, OPTIONS CONTRACTS WRITTEN, FORWARD SALE COMMITMENTS, SECURITIES SHORT SOLD, SWAP CONTRACTS, FORWARD FOREIGN CURRENCY CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS (NOTES 4 AND 5):**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net Realized Gain (Loss) From:<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments<sup>(a)</sup> | $711764858 | $111773350 | $240719407<sup>\*</sup> | $64910113 | $(8137783)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures contracts | 212419 | 93015 | 834825 |  | (974896)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Options contracts written |  |  | 62865 | 405883 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Securities sold short |  | 4044 |  |  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward sale commitments |  |  |  |  | (1064868)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swap contracts |  |  | 174103 |  | 430409  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency transactions |  |  | (43448) | (39645) | 99  |
| &nbsp;&nbsp;&nbsp; **Realized Gain (Loss)** | **711977277** | **111870409** | **241747752**  | **65276351** | **(9747039)**  |
| &nbsp;&nbsp;&nbsp; Change in Net Unrealized Appreciation (Depreciation) From:<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments | (317431149) | 57497528 | 363498686<sup>\*\*</sup> | 25929215 | 29492304  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures contracts | 28359 | 162054 | 414261 |  | 141650  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Options contracts written |  |  | (12567) | (22509) | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unfunded loan commitments |  |  |  |  | (26)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward sale commitments |  |  |  |  | 419221  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swap contracts |  |  | 3897575 |  | (369151)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency transactions | 14278 |  | 900837  | 112677 | 4  |
| **Change in Net Unrealized Appreciation (Depreciation)** | **(317388512)** | **57659582** | **368698792**  | **26019383** | **29684002**  |
| &nbsp;&nbsp;&nbsp; **Net Gain (Loss) on Investments, Futures Contracts, Options Contracts Written, Forward Sale Commitments, Securities Short Sold, Swap Contracts, Forward Foreign Currency Contracts and Foreign Currency Transactions** | **394588765** | **169529991** | **610446544**  | **91295734** | **19936963**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payment from Sub-adviser (Note 7) |  |  | 698616 |  | —  |
| **Total Increase (Decrease) in Net Assets from Operations** | **$404437300** | **$170585894** | **$642858689**  | **$102189981** | **$82975552** |

---

\* Includes foreign capital gains tax of $(130986) for Destinations International Equity Fund. 

\*\* Includes accrued foreign capital gains tax of $198,637 for Destinations International Equity Fund.

&nbsp;&nbsp;&nbsp;&nbsp;(a) Includes realized gain on ReFlow and In-Kind
 transactions of $613,063,042, $82,419,633, $56,689,695 and $33,490,832 for Destinations Large Cap Equity Fund, Destinations Small-Mid
 Cap Equity Fund, Destinations International Equity Fund and Destinations Equity Income Fund, respectively. See Note 11 and Note 12.

See Notes to Financial Statements.

305<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Statements of Operations** 

**For the Year Ended February 28, 2026(continued)** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Destinations** <br>**Low Duration** <br>**Fixed Income** <br>**Fund** | **Destinations** <br>**Global Fixed Income** <br>**Opportunities** <br>**Fund** | **Destinations** <br>**Municipal** <br>**Fixed Income** <br>**Fund** | **Destinations** <br>**Multi Strategy** <br>**Alternatives** <br>**Fund** | **Destinations** <br>**Shelter** <br>**Fund**  |
| **INVESTMENT INCOME:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends | &nbsp;&nbsp; $1735276 | &nbsp;&nbsp;&nbsp;&nbsp; $2224213 | $347968 | &nbsp;&nbsp; $4089064 | $1161169  |
| &nbsp;&nbsp;&nbsp; Interest | &nbsp;&nbsp; 14819462 | &nbsp;&nbsp;&nbsp;&nbsp; 53085641 | 24705084 | &nbsp;&nbsp; 22222506 | 38929  |
| &nbsp;&nbsp;&nbsp; Income from non-cash interest | &nbsp;&nbsp; 1240117 | &nbsp;&nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp; — | —  |
| &nbsp;&nbsp;&nbsp; Income from securities lending (net of any rebate or fees paid to borrowers) | &nbsp;&nbsp; 92172 | &nbsp;&nbsp;&nbsp;&nbsp; 206432 | 39882 | &nbsp;&nbsp; 259638 | —  |
| &nbsp;&nbsp;&nbsp; Less: Foreign taxes withheld (Note 5) | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp; — | (8333)  |
| &nbsp;&nbsp;&nbsp; **Total Investment Income** | &nbsp;&nbsp; **17887027** | &nbsp;&nbsp;&nbsp;&nbsp; **55516286** | **25092934** | &nbsp;&nbsp; **26571208** | **1191765**  |
| **EXPENSES:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investment management fee (Note 7) | &nbsp;&nbsp; 2027553 | &nbsp;&nbsp;&nbsp;&nbsp; 5995662 | 4630023 | &nbsp;&nbsp; 7445245 | 808568  |
| &nbsp;&nbsp;&nbsp; Transfer agent fees | &nbsp;&nbsp; 442498 | &nbsp;&nbsp;&nbsp;&nbsp; 1027231 | 969164 | &nbsp;&nbsp; 809020 | 152740  |
| &nbsp;&nbsp;&nbsp; Custody fees | &nbsp;&nbsp; 200264 | &nbsp;&nbsp;&nbsp;&nbsp; 313824 | 251558 | &nbsp;&nbsp; 93079 | 81063  |
| &nbsp;&nbsp;&nbsp; Trustees' fees | &nbsp;&nbsp; 31569 | &nbsp;&nbsp;&nbsp;&nbsp; 77506 | 73025 | &nbsp;&nbsp; 61655 | 10550  |
| &nbsp;&nbsp;&nbsp; Insurance | &nbsp;&nbsp; 8682 | &nbsp;&nbsp;&nbsp;&nbsp; 19579 | 20154 | &nbsp;&nbsp; 16048 | 2556  |
| &nbsp;&nbsp;&nbsp; Audit and tax | &nbsp;&nbsp; 63543 | &nbsp;&nbsp;&nbsp;&nbsp; 63150 | 59769 | &nbsp;&nbsp; 52943 | 58072  |
| &nbsp;&nbsp;&nbsp; Legal expense | &nbsp;&nbsp; 30318 | &nbsp;&nbsp;&nbsp;&nbsp; 86675 | 78098 | &nbsp;&nbsp; 41406 | 9817  |
| &nbsp;&nbsp;&nbsp; Printing expense | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 26 |  | &nbsp;&nbsp; 43 | —  |
| &nbsp;&nbsp;&nbsp; Chief Compliance Officer expense | &nbsp;&nbsp; 24435 | &nbsp;&nbsp;&nbsp;&nbsp; 61121 | 56112 | &nbsp;&nbsp; 45962 | 8338  |
| &nbsp;&nbsp;&nbsp; Shareholder reports fees | &nbsp;&nbsp; 582 | &nbsp;&nbsp;&nbsp;&nbsp; 816 |  | &nbsp;&nbsp; — | —  |
| &nbsp;&nbsp;&nbsp; Shareholder services | &nbsp;&nbsp; 75691 | &nbsp;&nbsp;&nbsp;&nbsp; 146432 | 20666 | &nbsp;&nbsp; 77925 | 950  |
| &nbsp;&nbsp;&nbsp; Registration fees | &nbsp;&nbsp; 51093 | &nbsp;&nbsp;&nbsp;&nbsp; 57906 | 54096 | &nbsp;&nbsp; 58146 | 39001  |
| &nbsp;&nbsp;&nbsp; Miscellaneous expense | &nbsp;&nbsp; 21034 | &nbsp;&nbsp;&nbsp;&nbsp; 51085 | 30075 | &nbsp;&nbsp; 15196 | 10849  |
| &nbsp;&nbsp;&nbsp; Interest and dividend expense | &nbsp;&nbsp; 3068 | &nbsp;&nbsp;&nbsp;&nbsp; 234410 | 13032 | &nbsp;&nbsp; 157777 | 3591  |
| &nbsp;&nbsp;&nbsp; **Total Expenses** | &nbsp;&nbsp; **2980330** | &nbsp;&nbsp;&nbsp;&nbsp; **8135423** | **6255772** | &nbsp;&nbsp; **8874445** | **1186095**  |
| &nbsp;&nbsp;&nbsp; Less: Fee waivers and/or expense reimbursement (Note 7) | &nbsp;&nbsp; (134572) | &nbsp;&nbsp;&nbsp;&nbsp; (577553) | (732482) | &nbsp;&nbsp; (1994203) | (52482)  |
| &nbsp;&nbsp;&nbsp; **Net Expenses** | &nbsp;&nbsp; **2845758** | &nbsp;&nbsp;&nbsp;&nbsp; **7557870** | **5523290** | &nbsp;&nbsp; **6880242** | **1133613**  |
| **Net Investment Income (Loss)** | &nbsp;&nbsp; **$15041269** | &nbsp;&nbsp;&nbsp;&nbsp; **$47958416** | **$19569644** | &nbsp;&nbsp; **$19690966** | **$58152**  |
|  **REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES CONTRACTS, UNFUNDED LOAN COMMITMENTS, OPTIONS CONTRACTS WRITTEN, FORWARD SALE COMMITMENTS, SECURITIES SHORT SOLD, SWAP CONTRACTS, FORWARD FOREIGN CURRENCY CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS (NOTES 4 AND 5):**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net Realized Gain (Loss) From:<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments<sup>(a)</sup> | &nbsp;&nbsp; $(2283775) | &nbsp;&nbsp;&nbsp;&nbsp; $5842068 | $(3302326) | &nbsp;&nbsp; $17425154 | $(895000)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Options contracts written | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 234984 |  | &nbsp;&nbsp; — | (547165)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Securities sold short | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (581785) |  | &nbsp;&nbsp; 94578 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swap contracts | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp; 3378371 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward foreign currency contracts | &nbsp;&nbsp; (1320941) | &nbsp;&nbsp;&nbsp;&nbsp; (14037948) |  | &nbsp;&nbsp; — | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency transactions | &nbsp;&nbsp; 85537 | &nbsp;&nbsp;&nbsp;&nbsp; 579058 |  | &nbsp;&nbsp; — | —  |
| &nbsp;&nbsp;&nbsp; **Realized Gain (Loss)** | &nbsp;&nbsp; **(3519179)** | &nbsp;&nbsp;&nbsp;&nbsp; **(7963623)** | **(3302326)** | &nbsp;&nbsp; **20898103** | **(1442165)**  |
| &nbsp;&nbsp;&nbsp; Change in Net Unrealized Appreciation (Depreciation) From:<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments | &nbsp;&nbsp; 6567056 | &nbsp;&nbsp;&nbsp;&nbsp; 5612686 | 8128145 | &nbsp;&nbsp; (7942973) | 9898120  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Options contracts written | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 173920 |  | &nbsp;&nbsp; — | 42693  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Securities sold short | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 233942 |  | &nbsp;&nbsp; (529591) | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swap contracts | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp; (5556105) | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward foreign currency contracts | &nbsp;&nbsp; (108610) | &nbsp;&nbsp;&nbsp;&nbsp; 1560532 |  | &nbsp;&nbsp; — | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency transactions | &nbsp;&nbsp; (411) | &nbsp;&nbsp;&nbsp;&nbsp; 39369 |  | &nbsp;&nbsp; — | —  |
| **Change in Net Unrealized Appreciation (Depreciation)** | &nbsp;&nbsp; **6458035** | &nbsp;&nbsp;&nbsp;&nbsp; **7620449** | **8128145** | &nbsp;&nbsp; **(14028669)** | **9940813**  |
| &nbsp;&nbsp;&nbsp; **Net Gain (Loss) on Investments, Futures Contracts, Options Contracts Written, Forward Sale Commitments, Securities Short Sold, Swap Contracts, Forward Foreign Currency Contracts and Foreign Currency Transactions** | &nbsp;&nbsp; **2938856** | &nbsp;&nbsp;&nbsp;&nbsp; **(343174)** | **4825819** | &nbsp;&nbsp; **6869434** | **8498648**  |
| **Total Increase (Decrease) in Net Assets from Operations** | &nbsp;&nbsp; **$17980125** | &nbsp;&nbsp;&nbsp;&nbsp; **$47615242** | **$24395463** | &nbsp;&nbsp; **$26560400** | **$8556800** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Includes realized gain on In-Kind transactions
 of $13,080,770 for Destinations Multi Strategy Alternatives Fund. See Note 12.

See Notes to Financial Statements.

306<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Statements of Operations** 

**For the Year Ended February 28, 2026(concluded)** 

---

| | |
|:---|:---|
|  | **Destinations Real** <br>**Assets Fund**  |
| **INVESTMENT INCOME:**<br>|  |
| &nbsp;&nbsp;&nbsp; Dividends | $10793632  |
| &nbsp;&nbsp;&nbsp; Interest | 220593  |
| &nbsp;&nbsp;&nbsp; Income from securities lending (net of any rebate or fees paid to borrowers) | 31444  |
| &nbsp;&nbsp;&nbsp; Less: Foreign taxes withheld (Note 5) | (459286)  |
| &nbsp;&nbsp;&nbsp; **Total Investment Income** | **10586383**  |
| **EXPENSES:**<br>|  |
| &nbsp;&nbsp;&nbsp; Investment management fee (Note 7) | 3300895  |
| &nbsp;&nbsp;&nbsp; Transfer agent fees | 479280  |
| &nbsp;&nbsp;&nbsp; Custody fees | 417287  |
| &nbsp;&nbsp;&nbsp; Trustees' fees | 38941  |
| &nbsp;&nbsp;&nbsp; Insurance | 8169  |
| &nbsp;&nbsp;&nbsp; Audit and tax | 52500  |
| &nbsp;&nbsp;&nbsp; Legal expense | 26549  |
| &nbsp;&nbsp;&nbsp; Chief Compliance Officer expense | 27057  |
| &nbsp;&nbsp;&nbsp; Shareholder services | 76765  |
| &nbsp;&nbsp;&nbsp; Registration fees | 113586  |
| &nbsp;&nbsp;&nbsp; Miscellaneous expense | 14199  |
| &nbsp;&nbsp;&nbsp; Interest and dividend expense | 3199  |
| &nbsp;&nbsp;&nbsp; **Total Expenses** | **4558427**  |
| &nbsp;&nbsp;&nbsp; Less: Fee waivers and/or expense reimbursement (Note 7) | (826572)  |
| &nbsp;&nbsp;&nbsp; **Net Expenses** | **3731855**  |
| **Net Investment Income (Loss)** | **$6854528**  |
|  **REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES CONTRACTS, UNFUNDED LOAN COMMITMENTS, OPTIONS CONTRACTS WRITTEN, FORWARD SALE COMMITMENTS, SECURITIES SHORT SOLD, SWAP CONTRACTS, FORWARD FOREIGN CURRENCY CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS (NOTES 4 AND 5):**<br>|  |
| &nbsp;&nbsp;&nbsp; Net Realized Gain (Loss) From:<br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments<sup>(a)</sup> | $15474030  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency transactions | (70754)  |
| &nbsp;&nbsp;&nbsp; **Realized Gain (Loss)** | **15403276**  |
| &nbsp;&nbsp;&nbsp; Change in Net Unrealized Appreciation (Depreciation) From:<br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments | 78125398  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency transactions | 2385  |
| **Change in Net Unrealized Appreciation (Depreciation)** | **78127783**  |
| &nbsp;&nbsp;&nbsp; **Net Gain (Loss) on Investments, Futures Contracts, Options Contracts Written, Forward Sale Commitments, Securities Short Sold, Swap Contracts, Forward Foreign Currency Contracts and Foreign Currency Transactions** | **93531058**  |
| **Total Increase (Decrease) in Net Assets from Operations** | **$100385586** |

---

<sup>(a)</sup> Includes realized gain on In-Kind transactions of $5,489,540 for Destinations Real Assets Fund. See Note 12. 

See Notes to Financial Statements.

307<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Statements of Changes in Net Assets** 

**For the Year Ended February 28, 2026 and Year Ended February 28, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Destinations** <br>**Large Cap Equity Fund** | **Destinations** <br>**Large Cap Equity Fund** | **Destinations** <br>**Small-Mid Cap Equity Fund** | **Destinations** <br>**Small-Mid Cap Equity Fund** | **Destinations** <br>**International Equity Fund**  | **Destinations** <br>**International Equity Fund**  |
|  | **February 28,** <br>**2026** | **February 28,** <br>**2025** | **February 28,** <br>**2026** | **February 28,** <br>**2025** | **February 28,** <br>**2026** | **February 28,** <br>**2025**  |
| **OPERATIONS:** <br>|  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | $9848535 | $15951097 | $1055903 | $2251534 | $31713529 | $36590347  |
| &nbsp;&nbsp;&nbsp; Net realized gain (loss) | 711977277 | 814176233 | 111870409 | 117006604 | 241747752  | 183044664  |
| &nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (317388512) | (212638944) | 57659582 | (53453118) | 368698792  | (45982350)  |
| &nbsp;&nbsp;&nbsp; Payment from Sub-adviser (Note 7) |  |  |  |  | 698616 | —  |
| &nbsp;&nbsp;&nbsp; **Increase (Decrease) in Net Assets From Operations** | **404437300** | **617488386** | **170585894** | **65805020** | **642858689**  | **173652661**  |
| **DISTRIBUTIONS TO SHAREHOLDERS (NOTE 5):** | **DISTRIBUTIONS TO SHAREHOLDERS (NOTE 5):** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; From net investment income/realized gains:<br>|  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | (221591026) | (503104051) | (42310084) | (53432050) | (166681925) | (62537296)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class Z | (32494969) | (60404106) | (5929280) | (6447275) | (20492890) | (6844464)  |
| &nbsp;&nbsp;&nbsp; **Decrease in Net Assets From Distributions to Shareholders** | **(254085995)** | **(563508157)** | **(48239364)** | **(59879325)** | **(187174815)** | **(69381760)**  |
| **FUND SHARE TRANSACTIONS:**<br>|  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net proceeds from sale of shares:<br>|  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | 678007746 | 776617278 | 43881480 | 117602808 | 117662626 | 169733065  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class Z | 648383392 | 206973040 | 191688284 | 47988892 | 219616076 | 28673039  |
| &nbsp;&nbsp;&nbsp; Reinvestment of distributions:<br>|  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | 218392931 | 497842444 | 41714294 | 52902360 | 164264031 | 61888659  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class Z | 32376479 | 59297429 | 5900460 | 6321522 | 20403047 | 6715166  |
| &nbsp;&nbsp;&nbsp; Cost of shares repurchased:<br>|  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | (1528952979) | (1486366178) | (208386522) | (262615321) | (513731760) | (762847638)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class Z | (693338534) | (335806573) | (201301952) | (75164227) | (230338986) | (120464003)  |
|  **Increase (Decrease) in Net Assets From Fund Share Transactions** | **(645130965)** | **(281442560)** | **(126503956)** | **(112963966)** | **(222124966)** | **(616301712)**  |
| **Increase (Decrease) in Net Assets** | **(494779660)** | **(227462331)** | **(4157426)** | **(107038271)** | **233558908** | **(512030811)**  |
| **NET ASSETS:**<br>|  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Beginning of period | 3988336607 | 4215798938 | 751261246 | 858299517 | 1950174346 | 2462205157  |
| &nbsp;&nbsp;&nbsp; **End of period** | **$3493556947** | **$3988336607** | **$747103820** | **$751261246** | **$2183733254**  | **$1950174346** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Destinations** <br>**Equity Income Fund** | **Destinations** <br>**Equity Income Fund** | **Destinations** <br>**Core Fixed Income Fund**  | **Destinations** <br>**Core Fixed Income Fund**  |
|  | **February 28,** <br>**2026** | **February 28,** <br>**2025** | **February 28,** <br>**2026** | **February 28,** <br>**2025**  |
| **OPERATIONS:**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | $10894247 | $15585955 | $63038589 | $73491277  |
| &nbsp;&nbsp;&nbsp; Net realized gain (loss) | 65276351 | 41729332 | (9747039) | (28149505)  |
| &nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 26019383 | 43869868 | 29684002 | 71414361  |
| &nbsp;&nbsp;&nbsp; **Increase (Decrease) in Net Assets From Operations** | **102189981** | **101185155** | **82975552** | **116756133**  |
| **DISTRIBUTIONS TO SHAREHOLDERS (NOTE 5):**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; From net investment income/realized gains:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | (37475650) | (14248022) | (56481249) | (66261451)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class Z | (3375201) | (1366858) | (5380353) | (6673219)  |
| &nbsp;&nbsp;&nbsp; **Decrease in Net Assets From Distributions to Shareholders** | **(40850851)** | **(15614880)** | **(61861602)** | **(72934670)**  |
| **FUND SHARE TRANSACTIONS:**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net proceeds from sale of shares:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | 39241896 | 56725520 | 113204352 | 185304812  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class Z | 95709116 | 22428274 | 21753511 | 25602213  |
| &nbsp;&nbsp;&nbsp; Reinvestment of distributions:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | 37014549 | 14115335 | 55665503 | 65558012  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class Z | 3291246 | 1321557 | 5329303 | 6558623  |
| &nbsp;&nbsp;&nbsp; Cost of shares repurchased:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | (132564488) | (223795561) | (426313178) | (499257354)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class Z | (97707522) | (50402428) | (33271494) | (86894652)  |
| **Increase (Decrease) in Net Assets From Fund Share Transactions** | **(55015203)** | **(179607303)** | **(263632003)** | **(303128346)**  |
| **Increase (Decrease) in Net Assets** | **6323927** | **(94037028)** | **(242518053)** | **(259306883)**  |
| **NET ASSETS:**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Beginning of period | 511122548 | 605159576 | 1753678108 | 2012984991  |
| &nbsp;&nbsp;&nbsp; **End of period** | **$517446475** | **$511122548** | **$1511160055** | **$1753678108** |

---

See Notes to Financial Statements.

308<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Statements of Changes in Net Assets** 

**For the Year Ended February 28, 2026 and Year Ended February 28, 2025(continued)** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Destinations Low Duration** <br>**Fixed Income Fund** | **Destinations Low Duration** <br>**Fixed Income Fund** | **Destinations Global Fixed** <br>**Income Opportunities Fund** | **Destinations Global Fixed** <br>**Income Opportunities Fund** | **Destinations Municipal** <br>**Fixed Income Fund**  | **Destinations Municipal** <br>**Fixed Income Fund**  |
|  | **February 28,** <br>**2026** | **February 28,** <br>**2025** | **February 28,** <br>**2026** | **February 28,** <br>**2025** | **February 28,** <br>**2026** | **February 28,** <br>**2025**  |
| **OPERATIONS:**<br>|  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | $15041269 | $19659275 | $47958416  | $52011048 | $19569644 | $22614838  |
| &nbsp;&nbsp;&nbsp; Net realized gain (loss) | (3519179) | (911181) | (7963623) | 8836122 | (3302326) | 155360  |
| &nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 6458035 | 2800775 | 7620449 | 613542 | 8128145 | 1746882  |
| &nbsp;&nbsp;&nbsp; **Increase (Decrease) in Net Assets From Operations** | **17980125** | **21548869** | **47615242** | **61460712** | **24395463** | **24517080**  |
| **DISTRIBUTIONS TO SHAREHOLDERS (NOTE 5):** | **DISTRIBUTIONS TO SHAREHOLDERS (NOTE 5):** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; From net investment income/realized gains:<br>|  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | (15880502) | (18238753) | (43407921) | (47216425) | (18921560) | (23023763)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class Z | (1304266) | (1540006) | (3483766) | (4177705) | (1205799) | (1334811)  |
| &nbsp;&nbsp;&nbsp; **Decrease in Net Assets From Distributions to Shareholders** | **(17184768)** | **(19778759)** | **(46891687)** | **(51394130)** | **(20127359)** | **(24358574)**  |
| **FUND SHARE TRANSACTIONS:**<br>|  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net proceeds from sale of shares:<br>|  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | 34965506 | 61812158 | 116644552 | 112672168 | 51086630 | 70782590  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class Z | 5085578 | 7601425 | 11394295 | 12610023 | 13522634 | 13772481  |
| &nbsp;&nbsp;&nbsp; Reinvestment of distributions:<br>|  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | 15663939 | 18055182 | 42825245 | 46714270 | 18628052 | 22732761  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class Z | 1295341 | 1515513 | 3443355 | 4084374 | 1185500 | 1291099  |
| &nbsp;&nbsp;&nbsp; Cost of shares repurchased:<br>|  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | (97733224) | (153152676) | (198180906) | (233835397) | (191981624) | (190744803)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class Z | (7408022) | (20015299) | (12357959) | (35708821) | (12121798) | (25744203)  |
|  **Increase (Decrease) in Net Assets From Fund Share Transactions** | **(48130882)** | **(84183697)** | **(36231418)** | **(93463383)** | **(119680606)** | **(107910075)**  |
| **Increase (Decrease) in Net Assets** | **(47335525)** | **(82413587)** | **(35507863)** | **(83396801)** | **(115412502)** | **(107751569)**  |
| **NET ASSETS:**<br>|  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Beginning of period | 321892424 | 404306011 | 739375401 | 822772202 | 753278480 | 861030049  |
| &nbsp;&nbsp;&nbsp; **End of period** | **$274556899** | **$321892424** | **$703867538** | **$739375401** | **$637865978** | **$753278480** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Destinations Multi Strategy** <br>**Alternatives Fund** | **Destinations Multi Strategy** <br>**Alternatives Fund** | **Destinations** <br>**Shelter Fund**  | **Destinations** <br>**Shelter Fund**  |
|  | **February 28,** <br>**2026** | **February 28,** <br>**2025** | **February 28,** <br>**2026** | **February 28,** <br>**2025**  |
| **OPERATIONS:**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | $19690966 | $33364267 | $58152 | $183387  |
| &nbsp;&nbsp;&nbsp; Net realized gain (loss) | 20898103 | 29356971 | (1442165) | (2770746)  |
| &nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (14028669) | (28811903) | 9940813 | 16103937  |
| &nbsp;&nbsp;&nbsp; **Increase (Decrease) in Net Assets From Operations** | **26560400** | **33909335** | **8556800** | **13516578**  |
| **DISTRIBUTIONS TO SHAREHOLDERS (NOTE 5):**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; From net investment income/realized gains:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | (25819010) | (37824480) | (86538) | (321053)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class Z | (2274729) | (3445373) | (4363) | (10762)  |
| &nbsp;&nbsp;&nbsp; **Decrease in Net Assets From Distributions to Shareholders** | **(28093739)** | **(41269853)** | **(90901)** | **(331815)**  |
| **FUND SHARE TRANSACTIONS:**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net proceeds from sale of shares:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | 95228667 | 55251873 | 8477493 | 9101952  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class Z | 9385558 | 8103661 | 190873 | 203245  |
| &nbsp;&nbsp;&nbsp; Reinvestment of distributions:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | 25454291 | 37412072 | 86538 | 321053  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class Z | 2256729 | 3378198 | 4363 | 10762  |
| &nbsp;&nbsp;&nbsp; Cost of shares repurchased:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | (177006367) | (279173481) | (22625117) | (24385545)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class Z | (9993778) | (36003559) | (674608) | (473000)  |
| **Increase (Decrease) in Net Assets From Fund Share Transactions** | **(54674900)** | **(211031236)** | **(14540458)** | **(15221533)**  |
| **Increase (Decrease) in Net Assets** | **(56208239)** | **(218391754)** | **(6074559)** | **(2036770)**  |
| **NET ASSETS:**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Beginning of period | 587838963 | 806230717 | 97887962 | 99924732  |
| &nbsp;&nbsp;&nbsp; **End of period** | **$531630724** | **$587838963** | **$91813403** | **$97887962** |

---

See Notes to Financial Statements.

309<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Statements of Changes in Net Assets** 

**For the Year Ended February 28, 2026 and Period Ended February 28, 2025 (concluded)** 

---

| | | |
|:---|:---|:---|
|  | **Destinations** <br>**Real Assets Fund<sup>\*</sup>**  | **Destinations** <br>**Real Assets Fund<sup>\*</sup>**  |
|  | **February 28,** <br>**2026** | **February 28,** <br>**2025**  |
| **OPERATIONS:**<br>|  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | $6854528 | $1654800  |
| &nbsp;&nbsp;&nbsp; Net realized gain (loss) | 15403276 | (1415897)  |
| &nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 78127782 | (6252993)  |
| &nbsp;&nbsp;&nbsp; **Increase (Decrease) in Net Assets From Operations** | **100385586** | **(6014090)**  |
| **DISTRIBUTIONS TO SHAREHOLDERS (NOTE 5):**<br>|  |  |
| &nbsp;&nbsp;&nbsp; From net investment income/realized gains:<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | (10732748) | (737152)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class Z | (1195324) | (59487)  |
| &nbsp;&nbsp;&nbsp; **Decrease in Net Assets From Distributions to Shareholders** | **(11928072)** | **(796639)**  |
| **FUND SHARE TRANSACTIONS:**<br>|  |  |
| &nbsp;&nbsp;&nbsp; Net proceeds from sale of shares:<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | 79231054 | 322781590  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class Z | 8405730 | 25169195  |
| &nbsp;&nbsp;&nbsp; Reinvestment of distributions:<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | 10560057 | 728474  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class Z | 1194774 | 57605  |
| &nbsp;&nbsp;&nbsp; Cost of shares repurchased:<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | (93083626) | (25285541)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class Z | (5892513) | (1496656)  |
| **Increase (Decrease) in Net Assets From Fund Share Transactions** | **415476** | **321954667**  |
| **Increase (Decrease) in Net Assets** | **88872990** | **315143938**  |
| **NET ASSETS:**<br>|  |  |
| &nbsp;&nbsp;&nbsp; Beginning of period | 315143938 | —  |
| &nbsp;&nbsp;&nbsp; **End of period** | **$404016928** | **$315143938** |

---

\* The Fund reopened on November 14, 2024 (Note 1).

See Notes to Financial Statements.

310<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Financial Highlights** 

**Destinations Large Cap Equity Fund** 

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2024), unless otherwise noted:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class I**  | **Class I**  | **Class I**  | **Class I**  | **Class I**  |
|  | **2026** | **2025** | **2024** | **2023** | **2022**  |
| **Net asset value, Beginning of Period** | $15.51 | $15.53 | $12.69 | $14.44 | $15.84  |
| **Income (Loss) from Operations:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(1)</sup> | 0.04 | 0.06 | 0.07 | 0.08 | 0.04  |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | 1.89 | 2.25 | 3.45 | (1.14) | 1.33  |
| Total Income (Loss) from Operations | 1.93 | 2.31 | 3.52 | (1.06) | 1.37  |
| **Less Distributions From:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income | (0.04) | (0.07) | (0.07) | (0.07) | (0.10)  |
| &nbsp;&nbsp;&nbsp; Net realized gain | (1.15) | (2.26) | (0.61) | (0.62) | (2.67)  |
| Total Distributions | (1.19) | (2.33) | (0.68) | (0.69) | (2.77)  |
| **Net Asset Value, End of Period** | $16.25 | $15.51 | $15.53 | $12.69 | $14.44  |
| **Total Return<sup>(2)</sup>** | 12.49% | 15.06% | 28.18% | (7.21)% | 7.48%  |
| **Net Assets, End of Period (millions)** | $3161 | $3650 | $3810 | $3992 | $4783  |
| **Ratios to Average Net Assets:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Gross expenses<sup>(3)</sup> | 1.00% | 0.96% | 0.95% | 0.96% | 0.95%  |
| &nbsp;&nbsp;&nbsp; Net expenses<sup>(3)(4)</sup> | 0.85% | 0.81% | 0.80% | 0.82% | 0.80%  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(3)(4)</sup> | 0.26% | 0.35% | 0.50% | 0.64% | 0.21%  |
| **Portfolio Turnover Rate<sup>(5)(6)</sup>** | 98% | 90% | 95% | 71% | 83% |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Per share amounts have been calculated using the
 average shares method.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Performance figures may reflect fee waivers
 and/or expense reimbursements and assume reinvestment of dividend distributions. In the absence of fee waivers and/or expense reimbursements,
 the total return would have been lower. Past performance is no guarantee of future results.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Does not reflect the proportionate share of expenses
 and income of the underlying fund in which the Fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Reflects fee waivers and/or expense reimbursements.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Reflects the rate for the Fund as a whole; not
 on a share class basis.

&nbsp;&nbsp;&nbsp;&nbsp;(6) In-kind transactions are not included in portfolio
 turnover calculations.

See Notes to Financial Statements.

311<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Financial Highlights(continued)** 

**Destinations Large Cap Equity Fund** 

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2024), unless otherwise noted:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class Z**  | **Class Z**  | **Class Z**  | **Class Z**  | **Class Z**  |
|  | **2026** | **2025** | **2024** | **2023** | **2022**  |
| **Net asset value, Beginning of Period** | $11.02 | $11.64 | $9.65 | $11.18 | $12.81  |
| **Income (Loss) from Operations:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(1)</sup> | 0.05 | 0.06 | 0.07 | 0.08 | 0.05  |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | 1.34 | 1.67 | 2.63 | (0.90) | 1.12  |
| Total Income (Loss) from Operations | 1.39 | 1.73 | 2.70 | (0.82) | 1.17  |
| **Less Distributions From:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income | (0.07) | (0.09) | (0.10) | (0.09) | (0.13)  |
| &nbsp;&nbsp;&nbsp; Net realized gain | (1.14) | (2.26) | (0.61) | (0.62) | (2.67)  |
| Total Distributions | (1.21) | (2.35) | (0.71) | (0.71) | (2.80)  |
| **Net Asset Value, End of Period** | $11.20 | $11.02 | $11.64 | $9.65 | $11.18  |
| **Total Return<sup>(2)</sup>** | 12.73% | 15.18% | 28.50% | (7.16)% | 7.65%  |
| **Net Assets, End of Period (millions)** | $333 | $338 | $406 | $397 | $506  |
| **Ratios to Average Net Assets:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Gross expenses<sup>(3)</sup> | 0.85% | 0.81% | 0.80% | 0.81% | 0.80%  |
| &nbsp;&nbsp;&nbsp; Net expenses<sup>(3)(4)</sup> | 0.70% | 0.66% | 0.65% | 0.67% | 0.65%  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(3)(4)</sup> | 0.41% | 0.51% | 0.65% | 0.79% | 0.36%  |
| **Portfolio Turnover Rate<sup>(5)(6)</sup>** | 98% | 90% | 95% | 71% | 83% |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Per share amounts have been calculated using the
 average shares method.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Performance figures may reflect fee waivers
 and/or expense reimbursements and assume reinvestment of dividend distributions. In the absence of fee waivers and/or expense reimbursements,
 the total return would have been lower. Past performance is no guarantee of future results.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Does not reflect the proportionate share of expenses
 and income of the underlying fund in which the Fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Reflects fee waivers and/or expense reimbursements.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Reflects the rate for the Fund as a whole; not
 on a share class basis.

&nbsp;&nbsp;&nbsp;&nbsp;(6) In-kind transactions are not included in portfolio
 turnover calculations.

See Notes to Financial Statements.

312<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Financial Highlights(continued)** 

**Destinations Small-Mid Cap Equity** 

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2024), unless otherwise noted:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class I**  | **Class I**  | **Class I**  | **Class I**  | **Class I**  |
|  | **2026** | **2025** | **2024** | **2023** | **2022**  |
| **Net asset value, Beginning of Period** | $13.09 | $13.17 | $11.79 | $12.97 | $16.43  |
| **Income (Loss) from Operations:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss)<sup>(1)</sup> | 0.02 | 0.03 | 0.04 | 0.04 | (0.01)  |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | 3.64 | 0.93 | 1.37 | (0.82) | 0.55  |
| Total Income (Loss) from Operations | 3.66 | 0.96 | 1.41 | (0.78) | 0.54  |
| **Less Distributions From:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income |  | (0.22) | (0.03) |  | —  |
| &nbsp;&nbsp;&nbsp; Net realized gain | (1.02) | (0.82) |  | (0.40) | (4.00)  |
| Total Distributions | (1.02) | (1.04) | (0.03) | (0.40) | (4.00)  |
| **Net Asset Value, End of Period** | $15.73 | $13.09 | $13.17 | $11.79 | $12.97  |
| **Total Return<sup>(2)</sup>** | 28.81%<sup>\*</sup> | 7.07% | 12.00% | (5.86)% | 1.66%  |
| **Net Assets, End of Period (millions)** | $677 | $688 | $775 | $1036 | $1198  |
| **Ratios to Average Net Assets:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Gross expenses<sup>(3)</sup> | 1.20% | 1.15% | 1.15% | 1.13% | 1.11%  |
| &nbsp;&nbsp;&nbsp; Net expenses<sup>(3)(4)</sup> | 1.11% | 1.05% | 1.11% | 1.12% | 1.10%  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss)<sup>(3)(4)</sup> | 0.14% | 0.25% | 0.38% | 0.36% | (0.05)%  |
| **Portfolio Turnover Rate<sup>(5)(6)</sup>** | 124% | 129% | 115% | 125% | 111% |

---

\* Includes the impact of proceeds received and credited to the Fund resulting from class action settlements, which enhanced the Fund's performance for the year ended February 28, 2026 by 0.03%.

&nbsp;&nbsp;&nbsp;&nbsp;(1) Per share amounts have been calculated using the
 average shares method.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Performance figures may reflect fee waivers
 and/or expense reimbursements and assume reinvestment of dividend distributions. In the absence of fee waivers and/or expense reimbursements,
 the total return would have been lower. Past performance is no guarantee of future results.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Does not reflect the proportionate share of expenses
 and income of the underlying fund in which the Fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Reflects fee waivers and/or expense reimbursements.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Reflects the rate for the Fund as a whole; not
 on a share class basis.

&nbsp;&nbsp;&nbsp;&nbsp;(6) In-kind transactions are not included in portfolio
 turnover calculations.

See Notes to Financial Statements.

313<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Financial Highlights(continued)** 

**Destinations Small-Mid Cap Equity** 

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2024), unless otherwise noted:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class Z**  | **Class Z**  | **Class Z**  | **Class Z**  | **Class Z**  |
|  | **2026** | **2025** | **2024** | **2023** | **2022**  |
| **Net asset value, Beginning of Period** | $9.37 | $9.71 | $8.70 | $9.68 | $13.17  |
| **Income (Loss) from Operations:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(1)</sup> | 0.03 | 0.04 | 0.05 | 0.05 | 0.01  |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | 2.58 | 0.68 | 1.01 | (0.63) | 0.50  |
| Total Income (Loss) from Operations | 2.61 | 0.72 | 1.06 | (0.58) | 0.51  |
| **Less Distributions From:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income |  | (0.24) | (0.05) |  | —  |
| &nbsp;&nbsp;&nbsp; Net realized gain | (1.02) | (0.82) |  | (0.40) | (4.00)  |
| Total Distributions | (1.02) | (1.06) | (0.05) | (0.40) | (4.00)  |
| **Net Asset Value, End of Period** | $10.96 | $9.37 | $9.71 | $8.70 | $9.68  |
| **Total Return<sup>(2)</sup>** | 29.04%<sup>\*</sup> | 7.13% | 12.25% | (5.78)% | 1.86%  |
| **Net Assets, End of Period (millions)** | $70 | $63 | $83 | $101 | $126  |
| **Ratios to Average Net Assets:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Gross expenses<sup>(3)</sup> | 1.05% | 1.00% | 1.00% | 0.98% | 0.96%  |
| &nbsp;&nbsp;&nbsp; Net expenses<sup>(3)(4)</sup> | 0.96% | 0.90% | 0.96% | 0.97% | 0.95%  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(3)(4)</sup> | 0.29% | 0.40% | 0.53% | 0.51% | 0.10%  |
| **Portfolio Turnover Rate<sup>(5)(6)</sup>** | 124% | 129% | 115% | 125% | 111% |

---

\* Includes the impact of proceeds received and credited to the Fund resulting from class action settlements, which enhanced the Fund's performance for the year ended February 28, 2026 by 0.03%.

&nbsp;&nbsp;&nbsp;&nbsp;(1) Per share amounts have been calculated using the
 average shares method.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Performance figures may reflect fee waivers
 and/or expense reimbursements and assume reinvestment of dividend distributions. In the absence of fee waivers and/or expense reimbursements,
 the total return would have been lower. Past performance is no guarantee of future results.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Does not reflect the proportionate share of expenses
 and income of the underlying fund in which the Fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Reflects fee waivers and/or expense reimbursements.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Reflects the rate for the Fund as a whole; not
 on a share class basis.

&nbsp;&nbsp;&nbsp;&nbsp;(6) In-kind transactions are not included in portfolio
 turnover calculations.

See Notes to Financial Statements.

314<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Financial Highlights(continued)** 

**Destinations International Equity Fund** 

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2024), unless otherwise noted:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class I**  | **Class I**  | **Class I**  | **Class I**  | **Class I**  |
|  | **2026** | **2025** | **2024** | **2023** | **2022**  |
| **Net asset value, Beginning of Period** | $13.28 | $12.75 | $11.72 | $13.24 | $15.11  |
| **Income (Loss) from Operations:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(1)</sup> | 0.24 | 0.22 | 0.21 | 0.12 | 0.01  |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | 4.61 | 0.77 | 1.06 | (1.33) | (1.22)  |
| &nbsp;&nbsp;&nbsp; Payment from Sub-adviser (Note 7) | 0.01 |  |  |  | —  |
| Total Income (Loss) from Operations | 4.86 | 0.99 | 1.27 | (1.21) | (1.21)  |
| **Less Distributions From:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income | (0.27) | (0.32) | (0.24) | (0.20) | (0.03)  |
| &nbsp;&nbsp;&nbsp; Net realized gain | (1.23) | (0.14) |  | (0.11) | (0.63)  |
| Total Distributions | (1.50) | (0.46) | (0.24) | (0.31) | (0.66)  |
| **Net Asset Value, End of Period** | $16.64 | $13.28 | $12.75 | $11.72 | $13.24  |
| **Total Return<sup>(2)</sup>** | 38.30%\* | 7.95% | 10.84% | (9.07)% | (8.36)%  |
| **Net Assets, End of Period (millions)** | $1970 | $1785 | $2222 | $1840 | $2419  |
| **Ratios to Average Net Assets:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Gross expenses<sup>(3)</sup> | 1.28% | 1.27% | 1.25% | 1.26% | 1.24%  |
| &nbsp;&nbsp;&nbsp; Net expenses<sup>(3)(4)</sup> | 1.07% | 1.06% | 1.05% | 1.16% | 1.20%  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(3)(4)</sup> | 1.61% | 1.67% | 1.73% | 1.02% | 0.05%  |
| **Portfolio Turnover Rate<sup>(5)(6)</sup>** | 54% | 62% | 69% | 66% | 48% |

---

\* Includes the impact of payment from Sub-adviser, which enhanced the Fund's performance for the year ended February 28, 2026 by 0.03%.

&nbsp;&nbsp;&nbsp;&nbsp;(1) Per share amounts have been calculated using the
 average shares method.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Performance figures may reflect fee waivers
 and/or expense reimbursements and assume reinvestment of dividend distributions. In the absence of fee waivers and/or expense reimbursements,
 the total return would have been lower. Past performance is no guarantee of future results.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Does not reflect the proportionate share of expenses
 and income of the underlying fund in which the Fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Reflects fee waivers and/or expense reimbursements.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Reflects the rate for the Fund as a whole; not
 on a share class basis.

&nbsp;&nbsp;&nbsp;&nbsp;(6) In-kind transactions are not included in portfolio
 turnover calculations.

See Notes to Financial Statements.

315<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Financial Highlights(continued)** 

**Destinations International Equity Fund** 

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2024), unless otherwise noted:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class Z**  | **Class Z**  | **Class Z**  | **Class Z**  | **Class Z**  |
|  | **2026** | **2025** | **2024** | **2023** | **2022**  |
| **Net asset value, Beginning of Period** | $11.35 | $10.97 | $10.11 | $11.48 | $13.18  |
| **Income (Loss) from Operations:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(1)</sup> | 0.22 | 0.21 | 0.19 | 0.12 | 0.02  |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | 3.93 | 0.65 | 0.92 | (1.16) | (1.05)  |
| &nbsp;&nbsp;&nbsp; Payment from Sub-adviser (Note 7) | 0.00<sup>\*</sup> |  |  |  | —  |
| Total Income (Loss) from Operations | 4.15 | 0.86 | 1.11 | (1.04) | (1.03)  |
| **Less Distributions From:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income | (0.30) | (0.34) | (0.25) | (0.22) | (0.04)  |
| &nbsp;&nbsp;&nbsp; Net realized gain | (1.23) | (0.14) |  | (0.11) | (0.63)  |
| Total Distributions | (1.53) | (0.48) | (0.25) | (0.33) | (0.67)  |
| **Net Asset Value, End of Period** | $13.97 | $11.35 | $10.97 | $10.11 | $11.48  |
| **Total Return<sup>(2)</sup>** | 38.52%\*\* | 8.07% | 11.06% | (8.98)% | (8.16)%  |
| **Net Assets, End of Period (millions)** | $214 | $165 | $240 | $184 | $253  |
| **Ratios to Average Net Assets:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Gross expenses<sup>(3)</sup> | 1.13% | 1.13% | 1.10% | 1.11% | 1.09%  |
| &nbsp;&nbsp;&nbsp; Net expenses<sup>(3)(4)</sup> | 0.91% | 0.91% | 0.90% | 1.01% | 1.05%  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(3)(4)</sup> | 1.72% | 1.85% | 1.84% | 1.18% | 0.13%  |
| **Portfolio Turnover Rate<sup>(5)(6)</sup>** | 54% | 62% | 69% | 66% | 48% |

---

\* Amount is less than $0.005 per share.

\*\* Includes the impact of payment from Sub-adviser, which enhanced the Fund's performance for the year ended February 28, 2026 by 0.03%.

&nbsp;&nbsp;&nbsp;&nbsp;(1) Per share amounts have been calculated using the
 average shares method.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Performance figures may reflect fee waivers
 and/or expense reimbursements and assume reinvestment of dividend distributions. In the absence of fee waivers and/or expense reimbursements,
 the total return would have been lower. Past performance is no guarantee of future results.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Does not reflect the proportionate share of expenses
 and income of the underlying fund in which the Fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Reflects fee waivers and/or expense reimbursements.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Reflects the rate for the Fund as a whole; not
 on a share class basis.

&nbsp;&nbsp;&nbsp;&nbsp;(6) In-kind transactions are not included in portfolio
 turnover calculations.

See Notes to Financial Statements.

316<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Financial Highlights(continued)** 

**Destinations Equity Income Fund** 

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2024), unless otherwise noted:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class I**  | **Class I**  | **Class I**  | **Class I**  | **Class I**  |
|  | **2026** | **2025** | **2024** | **2023** | **2022**  |
| **Net asset value, Beginning of Period** | $13.31 | $11.49 | $11.27 | $11.91 | $10.26  |
| **Income (Loss) from Operations:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(1)</sup> | 0.31 | 0.34 | 0.34 | 0.36 | 0.34  |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | 2.70 | 1.82 | 0.32 | (0.47) | 1.65  |
| Total Income (Loss) from Operations | 3.01 | 2.16 | 0.66 | (0.11) | 1.99  |
| **Less Distributions From:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income | (0.28) | (0.34) | (0.39) | (0.34) | (0.34)  |
| &nbsp;&nbsp;&nbsp; Net realized gain | (0.94) |  | (0.05) | (0.19) | —  |
| Total Distributions | (1.22) | (0.34) | (0.44) | (0.53) | (0.34)  |
| **Net Asset Value, End of Period** | $15.10 | $13.31 | $11.49 | $11.27 | $11.91  |
| **Total Return<sup>(2)</sup>** | 23.72%<sup>\*</sup> | 19.07% | 6.09% | (0.83)% | 19.68%  |
| **Net Assets, End of Period (millions)** | $475 | $475 | $550 | $652 | $469  |
| **Ratios to Average Net Assets:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Gross expenses<sup>(3)</sup> | 1.09% | 1.05% | 1.06% | 1.04% | 1.04%  |
| &nbsp;&nbsp;&nbsp; Net expenses<sup>(3)(4)</sup> | 0.97% | 0.93% | 0.96% | 0.94% | 0.92%  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(3)(4)</sup> | 2.26% | 2.72% | 3.10% | 3.10% | 2.94%  |
| **Portfolio Turnover Rate<sup>(5)(6)</sup>** | 62% | 45% | 51% | 46% | 58% |

---

\* Includes the impact of proceeds received and credited to the Fund resulting from class action settlements, which enhanced the Fund's performance for the year ended February 28, 2026 by 0.01%.

&nbsp;&nbsp;&nbsp;&nbsp;(1) Per share amounts have been calculated using the
 average shares method.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Performance figures may reflect fee waivers
 and/or expense reimbursements and assume reinvestment of dividend distributions. In the absence of fee waivers and/or expense reimbursements,
 the total return would have been lower. Past performance is no guarantee of future results.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Does not reflect the proportionate share of expenses
 and income of the underlying fund in which the Fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Reflects fee waivers and/or expense reimbursements.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Reflects the rate for the Fund as a whole; not
 on a share class basis.

&nbsp;&nbsp;&nbsp;&nbsp;(6) In-kind transactions are not included in portfolio
 turnover calculations.

See Notes to Financial Statements.

317<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Financial Highlights(continued)** 

**Destinations Equity Income Fund** 

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2024), unless otherwise noted:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class Z**  | **Class Z**  | **Class Z**  | **Class Z**  | **Class Z**  |
|  | **2026** | **2025** | **2024** | **2023** | **2022**  |
| **Net asset value, Beginning of Period** | $12.83 | $11.08 | $10.89 | $11.52 | $9.94  |
| **Income (Loss) from Operations:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(1)</sup> | 0.32 | 0.35 | 0.34 | 0.36 | 0.35  |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | 2.59 | 1.76 | 0.30 | (0.45) | 1.59  |
| Total Income (Loss) from Operations | 2.91 | 2.11 | 0.64 | (0.09) | 1.94  |
| **Less Distributions From:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income | (0.30) | (0.36) | (0.40) | (0.35) | (0.36)  |
| &nbsp;&nbsp;&nbsp; Net realized gain | (0.93) |  | (0.05) | (0.19) | —  |
| Total Distributions | (1.23) | (0.36) | (0.45) | (0.54) | (0.36)  |
| **Net Asset Value, End of Period** | $14.51 | $12.83 | $11.08 | $10.89 | $11.52  |
| **Total Return<sup>(2)</sup>** | 23.91%<sup>\*</sup> | 19.30% | 6.17% | (0.65)% | 19.71%  |
| **Net Assets, End of Period (millions)** | $42 | $36 | $55 | $60 | $44  |
| **Ratios to Average Net Assets:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Gross expenses<sup>(3)</sup> | 0.94% | 0.90% | 0.91% | 0.89% | 0.89%  |
| &nbsp;&nbsp;&nbsp; Net expenses<sup>(3)(4)</sup> | 0.82% | 0.78% | 0.81% | 0.79% | 0.77%  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(3)(4)</sup> | 2.39% | 2.93% | 3.23% | 3.24% | 3.09%  |
| **Portfolio Turnover Rate<sup>(5)(6)</sup>** | 62% | 45% | 51% | 46% | 58% |

---

\* Includes the impact of proceeds received and credited to the Fund resulting from class action settlements, which enhanced the Fund's performance for the year ended February 28, 2026 by 0.01%.

&nbsp;&nbsp;&nbsp;&nbsp;(1) Per share amounts have been calculated using the
 average shares method.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Performance figures may reflect fee waivers
 and/or expense reimbursements and assume reinvestment of dividend distributions. In the absence of fee waivers and/or expense reimbursements,
 the total return would have been lower. Past performance is no guarantee of future results.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Does not reflect the proportionate share of expenses
 and income of the underlying fund in which the Fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Reflects fee waivers and/or expense reimbursements.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Reflects the rate for the Fund as a whole; not
 on a share class basis.

&nbsp;&nbsp;&nbsp;&nbsp;(6) In-kind transactions are not included in portfolio
 turnover calculations.

See Notes to Financial Statements.

318<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Financial Highlights(continued)** 

**Destinations Core Fixed Income Fund** 

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2024), unless otherwise noted:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class I**  | **Class I**  | **Class I**  | **Class I**  | **Class I**  |
|  | **2026** | **2025** | **2024** | **2023** | **2022**  |
| **Net asset value, Beginning of Period** | $8.49 | $8.30 | $8.31 | $9.52 | $10.19  |
| **Income (Loss) from Operations:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(1)</sup> | 0.34 | 0.32 | 0.26 | 0.24 | 0.12  |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | 0.13 | 0.19 | 0.02 | (1.21) | (0.38)  |
| Total Income (Loss) from Operations | 0.47 | 0.51 | 0.28 | (0.97) | (0.26)  |
| **Less Distributions From:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income | (0.34) | (0.32) | (0.27) | (0.24) | (0.13)  |
| &nbsp;&nbsp;&nbsp; Net realized gain |  |  |  |  | (0.28)  |
| &nbsp;&nbsp;&nbsp; Return of capital |  |  | (0.02) |  | —  |
| Total Distributions | (0.34) | (0.32) | (0.29) | (0.24) | (0.41)  |
| **Net Asset Value, End of Period** | $8.62 | $8.49 | $8.30 | $8.31 | $9.52  |
| **Total Return<sup>(2)</sup>** | 5.62% | 6.30% | 3.42% | (10.19)% | (2.72)%  |
| **Net Assets, End of Period (millions)** | $1373 | $1612 | $1821 | $1793 | $2002  |
| **Ratios to Average Net Assets:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Gross expenses<sup>(3)</sup> | 0.90% | 0.89% | 0.88% | 0.89% | 0.87%  |
| &nbsp;&nbsp;&nbsp; Net expenses<sup>(3)(4)</sup> | 0.87% | 0.84% | 0.80% | 0.81% | 0.79%  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(3)(4)</sup> | 4.00% | 3.84% | 3.14% | 2.82% | 1.18%  |
| **Portfolio Turnover Rate<sup>(5)(6)</sup>** | 167% | 168% | 181% | 198% | 240% |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Per share amounts have been calculated using the
 average shares method.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Performance figures may reflect fee waivers
 and/or expense reimbursements and assume reinvestment of dividend distributions. In the absence of fee waivers and/or expense reimbursements,
 the total return would have been lower. Past performance is no guarantee of future results.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Does not reflect the proportionate share of expenses
 and income of the underlying fund in which the Fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Reflects fee waivers and/or expense reimbursements.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Reflects the rate for the Fund as a whole; not
 on a share class basis.

&nbsp;&nbsp;&nbsp;&nbsp;(6) In-kind transactions are not included in portfolio
 turnover calculations.

See Notes to Financial Statements.

319<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Financial Highlights(continued)** 

**Destinations Core Fixed Income Fund** 

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2024), unless otherwise noted:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class Z**  | **Class Z**  | **Class Z**  | **Class Z**  | **Class Z**  |
|  | **2026** | **2025** | **2024** | **2023** | **2022**  |
| **Net asset value, Beginning of Period** | $8.75 | $8.54 | $8.55 | $9.79 | $10.46  |
| **Income (Loss) from Operations:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(1)</sup> | 0.36 | 0.34 | 0.28 | 0.26 | 0.14  |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | 0.13 | 0.21 | 0.01 | (1.24) | (0.39)  |
| Total Income (Loss) from Operations | 0.49 | 0.55 | 0.29 | (0.98) | (0.25)  |
| **Less Distributions From:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income | (0.34) | (0.34) | (0.28) | (0.26) | (0.14)  |
| &nbsp;&nbsp;&nbsp; Net realized gain |  |  |  |  | (0.28)  |
| &nbsp;&nbsp;&nbsp; Return of capital |  |  | (0.02) |  | —  |
| Total Distributions | (0.34) | (0.34) | (0.30) | (0.26) | (0.42)  |
| **Net Asset Value, End of Period** | $8.90 | $8.75 | $8.54 | $8.55 | $9.79  |
| **Total Return<sup>(2)</sup>** | 5.84% | 6.51% | 3.45% | (10.08)% | (2.50)%  |
| **Net Assets, End of Period (millions)** | $138 | $142 | $192 | $170 | $202  |
| **Ratios to Average Net Assets:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Gross expenses<sup>(3)</sup> | 0.75% | 0.74% | 0.73% | 0.74% | 0.72%  |
| &nbsp;&nbsp;&nbsp; Net expenses<sup>(3)(4)</sup> | 0.72% | 0.69% | 0.65% | 0.66% | 0.64%  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(3)(4)</sup> | 4.14% | 3.98% | 3.28% | 2.96% | 1.36%  |
| **Portfolio Turnover Rate<sup>(5)(6)</sup>** | 167% | 168% | 181% | 198% | 240% |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Per share amounts have been calculated using the
 average shares method.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Performance figures may reflect fee waivers
 and/or expense reimbursements and assume reinvestment of dividend distributions. In the absence of fee waivers and/or expense reimbursements,
 the total return would have been lower. Past performance is no guarantee of future results.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Does not reflect the proportionate share of expenses
 and income of the underlying fund in which the Fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Reflects fee waivers and/or expense reimbursements.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Reflects the rate for the Fund as a whole; not
 on a share class basis.

&nbsp;&nbsp;&nbsp;&nbsp;(6) In-kind transactions are not included in portfolio
 turnover calculations.

See Notes to Financial Statements.

320<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Financial Highlights(continued)** 

**Destinations Low Duration Fixed Income Fund** 

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2024), unless otherwise noted:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class I**  | **Class I**  | **Class I**  | **Class I**  | **Class I**  |
|  | **2026** | **2025** | **2024** | **2023** | **2022**  |
| **Net asset value, Beginning of Period** | $9.34 | $9.30 | $9.19 | $9.68 | $9.73  |
| **Income (Loss) from Operations:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(1)</sup> | 0.48 | 0.49 | 0.55 | 0.42 | 0.30  |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | 0.10 | 0.05 | 0.12 | (0.39) | 0.03  |
| Total Income from Operations | 0.58 | 0.54 | 0.67 | 0.03 | 0.33  |
| **Less Distributions From:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income | (0.56) | (0.50) | (0.56) | (0.51) | (0.37)  |
| &nbsp;&nbsp;&nbsp; Net realized gain |  |  |  | (0.01) | (0.01)  |
| Total Distributions | (0.56) | (0.50) | (0.56) | (0.52) | (0.38)  |
| **Net Asset Value, End of Period** | $9.36 | $9.34 | $9.30 | $9.19 | $9.68  |
| **Total Return<sup>(2)</sup>** | 6.46%<sup>\*</sup> | 5.87% | 7.55% | 0.37% | 3.40%  |
| **Net Assets, End of Period (millions)** | $253 | $299 | $371 | $451 | $539  |
| **Ratios to Average Net Assets:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Gross expenses<sup>(3)</sup> | 1.04% | 0.99% | 0.99% | 0.96% | 0.93%  |
| &nbsp;&nbsp;&nbsp; Net expenses<sup>(3)(4)</sup> | 0.99% | 0.93% | 0.95% | 0.94% | 0.93%  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(3)(4)</sup> | 5.18% | 5.19% | 5.98% | 4.51% | 3.09%  |
| **Portfolio Turnover Rate<sup>(5)(6)</sup>** | 76% | 87% | 98% | 98% | 107% |

---

\* The net asset value and total return include adjustments in accordance with accounting principles generally accepted in the United States of America for financial reporting purposes. As such, the net asset value and total return for shareholder transactions may differ from financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;(1) Per share amounts have been calculated using the
 average shares method.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Performance figures may reflect fee waivers
 and/or expense reimbursements and assume reinvestment of dividend distributions. In the absence of fee waivers and/or expense reimbursements,
 the total return would have been lower. Past performance is no guarantee of future results.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Does not reflect the proportionate share of expenses
 and income of the underlying fund in which the Fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Reflects fee waivers and/or expense reimbursements.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Reflects the rate for the Fund as a whole; not
 on a share class basis.

&nbsp;&nbsp;&nbsp;&nbsp;(6) In-kind transactions are not included in portfolio
 turnover calculations.

See Notes to Financial Statements.

321<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Financial Highlights(continued)** 

**Destinations Low Duration Fixed Income Fund** 

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2024), unless otherwise noted:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class Z**  | **Class Z**  | **Class Z**  | **Class Z**  | **Class Z**  |
|  | **2026** | **2025** | **2024** | **2023** | **2022**  |
| **Net asset value, Beginning of Period** | $9.60 | $9.53 | $9.40 | $9.89 | $9.93  |
| **Income (Loss) from Operations:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(1)</sup> | 0.51 | 0.51 | 0.58 | 0.44 | 0.33  |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | 0.11 | 0.05 | 0.12 | (0.40) | 0.02  |
| Total Income from Operations | 0.62 | 0.56 | 0.70 | 0.04 | 0.35  |
| **Less Distributions From:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income | (0.58) | (0.49) | (0.57) | (0.52) | (0.38)  |
| &nbsp;&nbsp;&nbsp; Net realized gain |  |  |  | (0.01) | (0.01)  |
| Total Distributions | (0.58) | (0.49) | (0.57) | (0.53) | (0.39)  |
| **Net Asset Value, End of Period** | $9.64 | $9.60 | $9.53 | $9.40 | $9.89  |
| **Total Return<sup>(2)</sup>** | 6.63%<sup>\*</sup> | 6.03% | 7.74% | 0.49% | 3.56%  |
| **Net Assets, End of Period (millions)** | $22 | $23 | $34 | $37 | $49  |
| **Ratios to Average Net Assets:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Gross expenses<sup>(3)</sup> | 0.89% | 0.84% | 0.84% | 0.80% | 0.78%  |
| &nbsp;&nbsp;&nbsp; Net expenses<sup>(3)(4)</sup> | 0.84% | 0.78% | 0.80% | 0.79% | 0.78%  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(3)(4)</sup> | 5.33% | 5.35% | 6.13% | 4.63% | 3.28%  |
| **Portfolio Turnover Rate<sup>(5)(6)</sup>** | 76% | 87% | 98% | 98% | 107% |

---

\* The net asset value and total return include adjustments in accordance with accounting principles generally accepted in the United States of America for financial reporting purposes. As such, the net asset value and total return for shareholder transactions may differ from financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;(1) Per share amounts have been calculated using the
 average shares method.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Performance figures may reflect fee waivers
 and/or expense reimbursements and assume reinvestment of dividend distributions. In the absence of fee waivers and/or expense reimbursements,
 the total return would have been lower. Past performance is no guarantee of future results.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Does not reflect the proportionate share of expenses
 and income of the underlying fund in which the Fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Reflects fee waivers and/or expense reimbursements.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Reflects the rate for the Fund as a whole; not
 on a share class basis.

&nbsp;&nbsp;&nbsp;&nbsp;(6) In-kind transactions are not included in portfolio
 turnover calculations.

See Notes to Financial Statements.

322<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Financial Highlights(continued)** 

**Destinations Global Fixed Income Opportunities Fund** 

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2024), unless otherwise noted:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class I**  | **Class I**  | **Class I**  | **Class I**  | **Class I**  |
|  | **2026** | **2025** | **2024** | **2023** | **2022**  |
| **Net asset value, Beginning of Period** | $9.44 | $9.32 | $9.12 | $9.76 | $10.02  |
| **Income (Loss) from Operations:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(1)</sup> | 0.64 | 0.60 | 0.58 | 0.44 | 0.32  |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) |  | 0.12 | 0.21 | (0.65) | (0.17)  |
| Total Income (Loss) from Operations | 0.64 | 0.72 | 0.79 | (0.21) | 0.15  |
| **Less Distributions From:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income | (0.63) | (0.60) | (0.59) | (0.43) | (0.41)  |
| Total Distributions | (0.63) | (0.60) | (0.59) | (0.43) | (0.41)  |
| **Net Asset Value, End of Period** | $9.45 | $9.44 | $9.32 | $9.12 | $9.76  |
| **Total Return<sup>(2)</sup>** | 7.01%<sup>\*</sup> | 7.98% | 8.98% | (2.09)% | 1.49%  |
| **Net Assets, End of Period (millions)** | $649 | $687 | $752 | $622 | $699  |
| **Ratios to Average Net Assets:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Gross expenses<sup>(3)(4)</sup> | 1.16% | 1.15% | 1.15% | 1.14% | 1.19%  |
| &nbsp;&nbsp;&nbsp; Net expenses<sup>(3)(4)(5)</sup> | 1.08% | 1.03% | 1.02% | 1.03% | 1.08%  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(4)(5)</sup> | 6.79% | 6.44% | 6.42% | 4.70% | 3.17%  |
| **Portfolio Turnover Rate<sup>(6)(7)</sup>** | 104% | 112% | 83% | 58% | 90% |

---

\* The net asset value and total return include adjustments in accordance with accounting principles generally accepted in the United States of America for financial reporting purposes. As such, the net asset value and total return for shareholder transactions may differ from financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;(1) Per share amounts have been calculated using the
 average shares method.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Performance figures may reflect fee waivers
 and/or expense reimbursements and assume reinvestment of dividend distributions. In the absence of fee waivers and/or expense reimbursements,
 the total return would have been lower. Past performance is no guarantee of future results.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Ratios include interest and dividend expense
 on short sales which represent 0.03%, 0.05%, 0.05%, 0.04% and 0.09% for the year ended February 28, 2026, for the year ended February 28,
 2025, for the year ended February 29, 2024, for the year ended February 28, 2023 and for the year ended February 28, 2022,
 respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Does not reflect the proportionate share of expenses
 and income of the underlying fund in which the Fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Reflects fee waivers and/or expense reimbursements.

&nbsp;&nbsp;&nbsp;&nbsp;(6) Reflects the rate for the Fund as a whole; not
 on a share class basis.

&nbsp;&nbsp;&nbsp;&nbsp;(7) In-kind transactions are not included in portfolio
 turnover calculations.

See Notes to Financial Statements.

323<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Financial Highlights(continued)** 

**Destinations Global Fixed Income Opportunities Fund** 

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2024), unless otherwise noted:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class Z**  | **Class Z**  | **Class Z**  | **Class Z**  | **Class Z**  |
|  | **2026** | **2025** | **2024** | **2023** | **2022**  |
| **Net asset value, Beginning of Period** | $9.65 | $9.51 | $9.30 | $9.94 | $10.19  |
| **Income (Loss) from Operations:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(1)</sup> | 0.67 | 0.63 | 0.61 | 0.46 | 0.34  |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) |  | 0.12 | 0.20 | (0.66) | (0.17)  |
| Total Income (Loss) from Operations | 0.67 | 0.75 | 0.81 | (0.20) | 0.17  |
| **Less Distributions From:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income | (0.64) | (0.61) | (0.60) | (0.44) | (0.42)  |
| Total Distributions | (0.64) | (0.61) | (0.60) | (0.44) | (0.42)  |
| **Net Asset Value, End of Period** | $9.68 | $9.65 | $9.51 | $9.30 | $9.94  |
| **Total Return<sup>(2)</sup>** | 7.21%<sup>\*</sup> | 8.18% | 9.06% | (1.91)% | 1.67%  |
| **Net Assets, End of Period (millions)** | $55 | $52 | $70 | $57 | $66  |
| **Ratios to Average Net Assets:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Gross expenses<sup>(3)(4)</sup> | 1.01% | 1.00% | 1.00% | 0.99% | 1.04%  |
| &nbsp;&nbsp;&nbsp; Net expenses<sup>(3)(4)(5)</sup> | 0.93% | 0.88% | 0.87% | 0.88% | 0.93%  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(4)(5)</sup> | 6.94% | 6.60% | 6.58% | 4.83% | 3.30%  |
| **Portfolio Turnover Rate<sup>(6)(7)</sup>** | 104% | 112% | 83% | 58% | 90% |

---

\* The net asset value and total return include adjustments in accordance with accounting principles generally accepted in the United States of America for financial reporting purposes. As such, the net asset value and total return for shareholder transactions may differ from financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;(1) Per share amounts have been calculated using the
 average shares method.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Performance figures may reflect fee waivers
 and/or expense reimbursements and assume reinvestment of dividend distributions. In the absence of fee waivers and/or expense reimbursements,
 the total return would have been lower. Past performance is no guarantee of future results.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Ratios include interest and dividend expense
 on short sales which represent 0.03%, 0.05%, 0.05%, 0.04% and 0.09% for the year ended February 28, 2026, for the year ended February 28,
 2025, for the year ended February 29, 2024, for the year ended February 28, 2023 and for the year ended February 28, 2022,
 respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Does not reflect the proportionate share of expenses
 and income of the underlying fund in which the Fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Reflects fee waivers and/or expense reimbursements.

&nbsp;&nbsp;&nbsp;&nbsp;(6) Reflects the rate for the Fund as a whole; not
 on a share class basis.

&nbsp;&nbsp;&nbsp;&nbsp;(7) In-kind transactions are not included in portfolio
 turnover calculations.

See Notes to Financial Statements.

324<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Financial Highlights(continued)** 

**Destinations Municipal Fixed Income Fund** 

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2024), unless otherwise noted:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class I**  | **Class I**  | **Class I**  | **Class I**  | **Class I**  |
|  | **2026** | **2025** | **2024** | **2023** | **2022**  |
| **Net asset value, Beginning of Period** | $9.69 | $9.68 | $9.54 | $10.07 | $10.38  |
| **Income (Loss) from Operations:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(1)</sup> | 0.28 | 0.27 | 0.25 | 0.16 | 0.10  |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | 0.10 | 0.03 | 0.16 | (0.50) | (0.26)  |
| Total Income (Loss) from Operations | 0.38 | 0.30 | 0.41 | (0.34) | (0.16)  |
| **Less Distributions From:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income | (0.29) | (0.29) | (0.27) | (0.19) | (0.13)  |
| &nbsp;&nbsp;&nbsp; Net realized gain |  |  |  |  | (0.02)  |
| Total Distributions | (0.29) | (0.29) | (0.27) | (0.19) | (0.15)  |
| **Net Asset Value, End of Period** | $9.78 | $9.69 | $9.68 | $9.54 | $10.07  |
| **Total Return<sup>(2)</sup>** | 4.06% | 3.16% | 4.42% | (3.37)% | (1.53)%  |
| **Net Assets, End of Period (millions)** | $597 | $715 | $812 | $819 | $887  |
| **Ratios to Average Net Assets:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Gross expenses<sup>(3)</sup> | 0.95% | 0.94% | 0.94% | 0.94% | 0.93%  |
| &nbsp;&nbsp;&nbsp; Net expenses<sup>(3)(4)</sup> | 0.84% | 0.81% | 0.78% | 0.78% | 0.76%  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(3)(4)</sup> | 2.95% | 2.77% | 2.59% | 1.62% | 0.97%  |
| **Portfolio Turnover Rate<sup>(5)(6)</sup>** | 48% | 42% | 58% | 48% | 41% |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Per share amounts have been calculated using the
 average shares method.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Performance figures may reflect fee waivers
 and/or expense reimbursements and assume reinvestment of dividend distributions. In the absence of fee waivers and/or expense reimbursements,
 the total return would have been lower. Past performance is no guarantee of future results.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Does not reflect the proportionate share of expenses
 and income of the underlying fund in which the Fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Reflects fee waivers and/or expense reimbursements.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Reflects the rate for the Fund as a whole; not
 on a share class basis.

&nbsp;&nbsp;&nbsp;&nbsp;(6) In-kind transactions are not included in portfolio
 turnover calculations.

See Notes to Financial Statements.

325<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Financial Highlights(continued)** 

**Destinations Municipal Fixed Income Fund** 

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2024), unless otherwise noted:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class Z**  | **Class Z**  | **Class Z**  | **Class Z**  | **Class Z**  |
|  | **2026** | **2025** | **2024** | **2023** | **2022**  |
| **Net asset value, Beginning of Period** | $9.74 | $9.71 | $9.57 | $10.10 | $10.40  |
| **Income (Loss) from Operations:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(1)</sup> | 0.30 | 0.29 | 0.26 | 0.17 | 0.12  |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | 0.10 | 0.03 | 0.17 | (0.50) | (0.25)  |
| Total Income (Loss) from Operations | 0.40 | 0.32 | 0.43 | (0.33) | (0.13)  |
| **Less Distributions From:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income | (0.31) | (0.29) | (0.29) | (0.20) | (0.15)  |
| &nbsp;&nbsp;&nbsp; Net realized gain |  |  |  |  | (0.02)  |
| Total Distributions | (0.31) | (0.29) | (0.29) | (0.20) | (0.17)  |
| **Net Asset Value, End of Period** | $9.83 | $9.74 | $9.71 | $9.57 | $10.10  |
| **Total Return<sup>(2)</sup>** | 4.20% | 3.34% | 4.56% | (3.21)% | (1.29)%  |
| **Net Assets, End of Period (millions)** | $41 | $38 | $49 | $44 | $45  |
| **Ratios to Average Net Assets:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Gross expenses<sup>(3)</sup> | 0.81% | 0.79% | 0.79% | 0.79% | 0.78%  |
| &nbsp;&nbsp;&nbsp; Net expenses<sup>(3)(4)</sup> | 0.69% | 0.66% | 0.63% | 0.63% | 0.61%  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(3)(4)</sup> | 3.10% | 2.94% | 2.74% | 1.77% | 1.14%  |
| **Portfolio Turnover Rate<sup>(5)(6)</sup>** | 48% | 42% | 58% | 48% | 41% |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Per share amounts have been calculated using the
 average shares method.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Performance figures may reflect fee waivers
 and/or expense reimbursements and assume reinvestment of dividend distributions. In the absence of fee waivers and/or expense reimbursements,
 the total return would have been lower. Past performance is no guarantee of future results.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Does not reflect the proportionate share of expenses
 and income of the underlying fund in which the Fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Reflects fee waivers and/or expense reimbursements.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Reflects the rate for the Fund as a whole; not
 on a share class basis.

&nbsp;&nbsp;&nbsp;&nbsp;(6) In-kind transactions are not included in portfolio
 turnover calculations.

See Notes to Financial Statements.

326<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Financial Highlights(continued)** 

**Destinations Multi Strategy Alternatives Fund** 

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2024), unless otherwise noted:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class I**  | **Class I**  | **Class I**  | **Class I**  | **Class I**  |
|  | **2026** | **2025** | **2024** | **2023** | **2022**  |
| **Net asset value, Beginning of Period** | $10.29 | $10.45 | $10.10 | $10.22 | $10.57  |
| **Income (Loss) from Operations:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(1)</sup> | 0.37 | 0.50 | 0.53 | 0.31 | 0.10  |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | 0.14 | (0.02) | 0.50 | (0.13) | 0.03  |
| Total Income from Operations | 0.51 | 0.48 | 1.03 | 0.18 | 0.13  |
| **Less Distributions From:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income | (0.42) | (0.63) | (0.68) | (0.27) | (0.22)  |
| &nbsp;&nbsp;&nbsp; Net realized gain | (0.11) | (0.01) |  | (0.03) | (0.26)  |
| Total Distributions | (0.53) | (0.64) | (0.68) | (0.30) | (0.48)  |
| **Net Asset Value, End of Period** | $10.27 | $10.29 | $10.45 | $10.10 | $10.22  |
| **Total Return<sup>(2)</sup>** | 5.00%<sup>\*</sup> | 4.71% | 10.51% | 1.87% | 1.25%  |
| **Net Assets, End of Period (millions)** | $488 | $546 | $739 | $851 | $1165  |
| **Ratios to Average Net Assets:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Gross expenses<sup>(3)(4)</sup> | 1.62% | 1.63% | 1.67% | 1.75% | 1.75%  |
| &nbsp;&nbsp;&nbsp; Net expenses<sup>(3)(4)(5)</sup> | 1.26% | 1.22% | 1.23% | 1.30% | 1.31%  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(4)(5)</sup> | 3.56% | 4.75% | 5.20% | 3.13% | 0.93%  |
| **Portfolio Turnover Rate<sup>(6)(7)</sup>** | 55% | 58% | 79% | 70% | 90% |

---

\* Includes the impact of proceeds received and credited to the Fund resulting from class action settlements, which enhanced the Fund's performance for the year ended February 28, 2026 by 0.01%.

&nbsp;&nbsp;&nbsp;&nbsp;(1) Per share amounts have been calculated using the
 average shares method.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Performance figures may reflect fee waivers
 and/or expense reimbursements and assume reinvestment of dividend distributions. In the absence of fee waivers and/or expense reimbursements,
 the total return would have been lower. Past performance is no guarantee of future results.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Ratios include interest and dividend expense
 on short sales which represent 0.03%, 0.03%, 0.08%, 0.15% and 0.19% for the year ended February 28, 2026, for the year ended February 28,
 2025, for the year ended February 29, 2024, for the year ended February 28, 2023 and for the year ended February 28, 2022,
 respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Does not reflect the proportionate share of expenses
 and income of the underlying fund in which the Fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Reflects fee waivers and/or expense reimbursements.

&nbsp;&nbsp;&nbsp;&nbsp;(6) Reflects the rate for the Fund as a whole; not
 on a share class basis.

&nbsp;&nbsp;&nbsp;&nbsp;(7) In-kind transactions are not included in portfolio
 turnover calculations.

See Notes to Financial Statements.

327<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Financial Highlights(continued)** 

**Destinations Multi Strategy Alternatives Fund** 

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2024), unless otherwise noted:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class Z**  | **Class Z**  | **Class Z**  | **Class Z**  | **Class Z**  |
|  | **2026** | **2025** | **2024** | **2023** | **2022**  |
| **Net asset value, Beginning of Period** | $9.99 | $10.16 | $9.85 | $9.96 | $10.32  |
| **Income (Loss) from Operations:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(1)</sup> | 0.37 | 0.51 | 0.54 | 0.32 | 0.11  |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | 0.14 | (0.02) | 0.47 | (0.12) | 0.03  |
| Total Income from Operations | 0.51 | 0.49 | 1.01 | 0.20 | 0.14  |
| **Less Distributions From:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income | (0.44) | (0.64) | (0.70) | (0.28) | (0.24)  |
| &nbsp;&nbsp;&nbsp; Net realized gain | (0.10) | (0.02) |  | (0.03) | (0.26)  |
| Total Distributions | (0.54) | (0.66) | (0.70) | (0.31) | (0.50)  |
| **Net Asset Value, End of Period** | $9.96 | $9.99 | $10.16 | $9.85 | $9.96  |
| **Total Return<sup>(2)</sup>** | 5.18%<sup>\*</sup> | 4.88% | 10.50% | 2.16% | 1.31%  |
| **Net Assets, End of Period (millions)** | $44 | $42 | $67 | $72 | $108  |
| **Ratios to Average Net Assets:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Gross expenses<sup>(3)(4)</sup> | 1.47% | 1.48% | 1.52% | 1.60% | 1.60%  |
| &nbsp;&nbsp;&nbsp; Net expenses<sup>(3)(4)(5)</sup> | 1.11% | 1.08% | 1.08% | 1.15% | 1.16%  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(4)(5)</sup> | 3.69% | 4.96% | 5.36% | 3.24% | 1.10%  |
| **Portfolio Turnover Rate<sup>(6)(7)</sup>** | 55% | 58% | 79% | 70% | 90% |

---

\* Includes the impact of proceeds received and credited to the Fund resulting from class action settlements, which enhanced the Fund's performance for the year ended February 28, 2026 by 0.01%.

&nbsp;&nbsp;&nbsp;&nbsp;(1) Per share amounts have been calculated using the
 average shares method.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Performance figures may reflect fee waivers
 and/or expense reimbursements and assume reinvestment of dividend distributions. In the absence of fee waivers and/or expense reimbursements,
 the total return would have been lower. Past performance is no guarantee of future results.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Ratios include interest and dividend expense
 on short sales which represent 0.03%, 0.03%, 0.08%, 0.15% and 0.19% for the year ended February 28, 2026, for the year ended February 28,
 2025, for the year ended February 29, 2024, for the year ended February 28, 2023 and for the year ended February 28, 2022,
 respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Does not reflect the proportionate share of expenses
 and income of the underlying fund in which the Fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Reflects fee waivers and/or expense reimbursements.

&nbsp;&nbsp;&nbsp;&nbsp;(6) Reflects the rate for the Fund as a whole; not
 on a share class basis.

&nbsp;&nbsp;&nbsp;&nbsp;(7) In-kind transactions are not included in portfolio
 turnover calculations.

See Notes to Financial Statements.

328<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Financial Highlights(continued)** 

**Destinations Shelter Fund** 

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2024), unless otherwise noted:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class I**  | **Class I**  | **Class I**  | **Class I**  | **Class I**  |
|  | **2026** | **2025** | **2024** | **2023** | **2022<sup>(1)</sup>**  |
| **Net asset value, Beginning of Period** | $11.98 | $10.48 | $8.70 | $9.56 | $10.00  |
| **Income (Loss) from Operations:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(2)</sup> | 0.01 | 0.02 | 0.04 | 0.03 | 0.01  |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | 1.10 | 1.52 | 1.78 | (0.85) | (0.44)  |
| Total Income (Loss) from Operations | 1.11 | 1.54 | 1.82 | (0.82) | (0.43)  |
| **Less Distributions From:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income | (0.01) | (0.04) | (0.04) | (0.02) | (0.01)  |
| &nbsp;&nbsp;&nbsp; Net realized gain |  |  |  | (0.02) | —  |
| Total Distributions | (0.01) | (0.04) | (0.04) | (0.04) | (0.01)  |
| **Net Asset Value, End of Period** | $13.08 | $11.98 | $10.48 | $8.70 | $9.56  |
| **Total Return<sup>(3)</sup>** | 9.28% | 14.70% | 20.91% | (8.56)% | (4.33)%<sup>(4)</sup>  |
| **Net Assets, End of Period (millions)** | $90 | $96 | $98 | $99 | $123  |
| **Ratios to Average Net Assets:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Gross expenses | 1.25% | 1.22% | 1.31% | 1.40% | 1.40%<sup>(5)</sup>  |
| &nbsp;&nbsp;&nbsp; Net expenses<sup>(6)</sup> | 1.19% | 1.16% | 1.19% | 1.29% | 1.27%<sup>(5)</sup>  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(6)</sup> | 0.06% | 0.18% | 0.47% | 0.33% | 0.27%<sup>(5)</sup>  |
| **Portfolio Turnover Rate<sup>(7)(8)</sup>** | 12% | 9% | 5% | 5% | 2%<sup>(4)</sup> |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Figures are for the period from Class inception
 (October 26, 2021) through the period ended February 28, 2022.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Per share amounts have been calculated using the
 average shares method.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Performance figures may reflect fee waivers
 and/or expense reimbursements and assume reinvestment of dividend distributions. In the absence of fee waivers and/or expense reimbursements,
 the total return would have been lower. Past performance is no guarantee of future results.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Not annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(6) Reflects fee waivers and/or expense reimbursements.

&nbsp;&nbsp;&nbsp;&nbsp;(7) Reflects the rate for the Fund as a whole; not
 on a share class basis.

&nbsp;&nbsp;&nbsp;&nbsp;(8) In-kind transactions are not included in portfolio
 turnover calculations.

See Notes to Financial Statements.

329<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Financial Highlights(continued)** 

**Destinations Shelter Fund** 

For a share of beneficial interest outstanding throughout each year ended February 28 (or February 29 for 2024), unless otherwise noted:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class Z**  | **Class Z**  | **Class Z**  | **Class Z**  | **Class Z**  |
|  | **2026** | **2025** | **2024** | **2023** | **2022<sup>(1)</sup>**  |
| **Net asset value, Beginning of Period** | $11.83 | $10.35 | $8.60 | $9.44 | $10.00  |
| **Income (Loss) from Operations:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(2)</sup> | 0.03 | 0.04 | 0.06 | 0.04 | 0.01  |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | 1.10 | 1.49 | 1.74 | (0.83) | (0.56)  |
| Total Income (Loss) from Operations | 1.13 | 1.53 | 1.80 | (0.79) | (0.55)  |
| **Less Distributions From:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income | (0.03) | (0.05) | (0.05) | (0.03) | (0.01)  |
| &nbsp;&nbsp;&nbsp; Net realized gain |  |  |  | (0.02) | —  |
| Total Distributions | (0.03) | (0.05) | (0.05) | (0.05) | (0.01)  |
| **Net Asset Value, End of Period** | $12.93 | $11.83 | $10.35 | $8.60 | $9.44  |
| **Total Return<sup>(3)</sup>** | 9.54% | 14.93% | 20.95% | (8.33)% | 5.51%<sup>(4)</sup>  |
| **Net Assets, End of Period (millions)** | $2 | $2 | $2 | $2 | $2  |
| **Ratios to Average Net Assets:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Gross expenses | 1.10% | 1.06% | 1.15% | 1.25% | 1.22%<sup>(5)</sup>  |
| &nbsp;&nbsp;&nbsp; Net expenses<sup>(6)</sup> | 1.04% | 1.00% | 1.04% | 1.14% | 1.04%<sup>(5)</sup>  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(6)</sup> | 0.21% | 0.33% | 0.63% | 0.48% | 0.30%<sup>(5)</sup>  |
| **Portfolio Turnover Rate<sup>(7)(8)</sup>** | 12% | 9% | 5% | 5% | 2%<sup>(4)</sup> |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Figures are for the period from Class inception
 (November 3, 2021) through the period ended February 28, 2022.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Per share amounts have been calculated using the
 average shares method.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Performance figures may reflect fee waivers
 and/or expense reimbursements and assume reinvestment of dividend distributions. In the absence of fee waivers and/or expense reimbursements,
 the total return would have been lower. Past performance is no guarantee of future results.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Not annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(6) Reflects fee waivers and/or expense reimbursements.

&nbsp;&nbsp;&nbsp;&nbsp;(7) Reflects the rate for the Fund as a whole; not
 on a share class basis.

&nbsp;&nbsp;&nbsp;&nbsp;(8) In-kind transactions are not included in portfolio
 turnover calculations.

See Notes to Financial Statements.

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**Financial Highlights(continued)** 

**Destinations Real Assets Fund** 

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

---

| | | |
|:---|:---|:---|
|  | **Class I**  | **Class I**  |
|  | **2026** | **2025<sup>(1)</sup>**  |
| **Net asset value, Beginning of Period** | $2.20 | $2.24<sup>(2</sup><sup>)</sup>  |
| **Income (Loss) from Operations:**<br>|  |  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(3)</sup> | 0.05 | 0.01  |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | 0.67 | (0.05)  |
| Total Income (Loss) from Operations | 0.72 | (0.04)  |
| **Less Distributions From:**<br>|  |  |
| &nbsp;&nbsp;&nbsp; Net investment income | (0.06) | (0.00)<sup>(4)</sup>  |
| &nbsp;&nbsp;&nbsp; Net realized gain | (0.03) | —  |
| Total Distributions | (0.09) | (0.00)<sup>(4)</sup>  |
| **Net Asset Value, End of Period** | $2.83 | $2.20  |
| **Total Return<sup>(5)</sup>** | 33.29% | (1.54)%<sup>(6)</sup>  |
| **Net Assets, End of Period (millions)** | $370 | $292  |
| **Ratios to Average Net Assets:**<br>|  |  |
| &nbsp;&nbsp;&nbsp; Gross expenses<sup>(7)</sup> | 1.39% | 1.49%<sup>(8)</sup>  |
| &nbsp;&nbsp;&nbsp; Net expenses<sup>(7)(9)</sup> | 1.14% | 1.24%<sup>(8)</sup>  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(7)(9)</sup> | 2.07% | 1.86%<sup>(8)</sup>  |
| **Portfolio Turnover Rate<sup>(10)(11)</sup>** | 92% | 27%<sup>(6)</sup> |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) The information is for the period from November 14,
 2024, when the Fund reopened, through the period ended February 28, 2025 (Note 1).

&nbsp;&nbsp;&nbsp;&nbsp;(2) Reflects opening NAV on November 14, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Per share amounts have been calculated using the
 average shares method.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Amounts represent less than 0.01.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Performance figures may reflect fee waivers
 and/or expense reimbursements and assume reinvestment of dividend distributions. In the absence of fee waivers and/or expense reimbursements,
 the total return would have been lower. Past performance is no guarantee of future results.

&nbsp;&nbsp;&nbsp;&nbsp;(6) Not annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(7) Does not reflect the proportionate share of expenses
 and income of the underlying fund in which the Fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(8) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(9) Reflects fee waivers and/or expense reimbursements.

&nbsp;&nbsp;&nbsp;&nbsp;(10) Reflects the rate for the Fund as a whole; not
 on a share class basis.

&nbsp;&nbsp;&nbsp;&nbsp;(11) In-kind transactions are not included in portfolio
 turnover calculations.

See Notes to Financial Statements.

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**[**TABLE OF CONTENTS**](#TOC)**

**Financial Highlights(concluded)** 

**Destinations Real Assets Fund** 

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

---

| | | |
|:---|:---|:---|
|  | **Class Z**  | **Class Z**  |
|  | **2026** | **2025<sup>(1)</sup>**  |
| **Net asset value, Beginning of Period** | $1.95 | $1.99<sup>(2</sup><sup>)</sup>  |
| **Income (Loss) from Operations:**<br>|  |  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(3)</sup> | 0.05 | 0.01  |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | 0.59 | (0.04)  |
| Total Income (Loss) from Operations | 0.64 | (0.03)  |
| **Less Distributions From:**<br>|  |  |
| &nbsp;&nbsp;&nbsp; Net investment income | (0.06) | (0.01)  |
| &nbsp;&nbsp;&nbsp; Net realized gain | (0.03) | —  |
| Total Distributions | (0.09) | (0.01)  |
| **Net Asset Value, End of Period** | $2.50 | $1.95  |
| **Total Return<sup>(4)</sup>** | 33.66% | (1.71)%<sup>(5)</sup>  |
| **Net Assets, End of Period (millions)** | $34 | $23  |
| **Ratios to Average Net Assets:**<br>|  |  |
| &nbsp;&nbsp;&nbsp; Gross expenses<sup>(6)</sup> | 1.24% | 1.39%<sup>(7)</sup>  |
| &nbsp;&nbsp;&nbsp; Net expenses<sup>(6)(8)</sup> | 0.99% | 1.13%<sup>(7)</sup>  |
| &nbsp;&nbsp;&nbsp; Net investment income<sup>(6)(8)</sup> | 2.20% | 1.88%<sup>(7)</sup>  |
| **Portfolio Turnover Rate<sup>(9)(10)</sup>** | 92% | 27%<sup>(5)</sup> |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) The information is for the period from November 14,
 2024, when the Fund reopened, through the period ended February 28, 2025 (Note 1).

&nbsp;&nbsp;&nbsp;&nbsp;(2) Reflects opening NAV on November 14, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Per share amounts have been calculated using the
 average shares method.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Performance figures may reflect fee waivers
 and/or expense reimbursements and assume reinvestment of dividend distributions. In the absence of fee waivers and/or expense reimbursements,
 the total return would have been lower. Past performance is no guarantee of future results.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Not annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(6) Does not reflect the proportionate share of expenses
 and income of the underlying fund in which the Fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(7) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(8) Reflects fee waivers and/or expense reimbursements.

&nbsp;&nbsp;&nbsp;&nbsp;(9) Reflects the rate for the Fund as a whole; not
 on a share class basis.

&nbsp;&nbsp;&nbsp;&nbsp;(10) In-kind transactions are not included in portfolio
 turnover calculations.

See Notes to Financial Statements.

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**Notes to Financial Statements** 

**February 28, 2026** 

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, Destinations Shelter Fund and Destinations Real Assets Fund (reopened on November 14, 2024) (individually, a "Fund" and collectively, the "Funds"). The Destinations Funds are used to implement certain model-based advisory programs.

Client assets from such advisory programs were reallocated into the Destinations Real Assets Fund as of November 14, 2024, and, accordingly, audited financial statements have only been provided for the period from November 14, 2024 until the Fund's fiscal year end on February 28, 2025. Because the Fund was not an active component in those advisory programs during its 2022, 2023 and 2024 fiscal years, there were no audited financial statements for the Fund during those fiscal years. For the Fund's 2022, 2023 and 2024 fiscal years, the Adviser was the sole beneficial owner of the Fund, and the Fund had only de minimis assets, which consisted entirely of cash. Because the Fund was not obligated to conduct an audit for the fiscal years ended 2022, 2023 and 2024, unaudited financial statements for those time periods have not been included within this report.

Each Fund currently offers two classes of shares designated as Class I and Class Z shares.

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

2. Accounting Policies

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

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

3. Investment valuation

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

Futures contracts are valued at the last posted 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 the last reported net asset value per share.

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

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**Notes to Financial Statements** 

**February 28, 2026(continued)** 

3. Investment valuation (continued)

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. Pursuant to the requirements of the 1940 Act and Rule 2a-5, the Board designated a committee of persons at the investment adviser as the "Valuation Designee" to perform fair value determinations and approved revised policies and procedures for the Trust. The Valuation Designee is subject to the Board's oversight and certain reporting and other requirements intended to ensure that the Board receives the information it needs to oversee the Valuation Designee's fair value determinations. When market quotations are not readily available or are determined to be unreliable, investments are valued at fair value as determined in good faith by the valuation committee established by the Adviser in accordance with such procedures under the oversight of the Board. Circumstances that may indicate that market quotations are not readily available or are unreliable include, but are not limited to, such instances when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, and before the applicable Fund calculates its Net Asset Value ("NAV").

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

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

Level 1 — unadjusted quoted prices in active markets for identical securities.

Level 2 — significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

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

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

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

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

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**Notes to Financial Statements** 

**February 28, 2026(continued)** 

3. Investment valuation (continued)

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

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

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

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

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

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

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.

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**Notes to Financial Statements** 

**February 28, 2026(continued)** 

3. Investment valuation (continued)

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total Fair Value at**<br>**February 28, 2026** | **Unadjusted Quoted** <br>**Prices in Active** <br>**Markets for Identical** <br>**Investments**<br>**(Level 1)** | **Significant** <br>**Observable**<br>**Inputs**<br>**(Level 2)** | **Significant**<br>**Unobservable**<br>**Inputs**<br>**(Level 3)**  |
| **Destinations Large Cap Equity Fund**  | **Destinations Large Cap Equity Fund**  | **Destinations Large Cap Equity Fund**  | **Destinations Large Cap Equity Fund**  | **Destinations Large Cap Equity Fund**  |
| Investments, at value<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Basic Materials  | $53598502 | &nbsp;&nbsp; $53598502 | $— | $—  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communications  | 474112823 | &nbsp;&nbsp; 474112823 |  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Cyclical  | 321961861 | &nbsp;&nbsp; 321961861 |  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Non-cyclical  | 434990621 | &nbsp;&nbsp; 434990621 |  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy  | 123890437 | &nbsp;&nbsp; 123890437 |  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial  | 586001343 | &nbsp;&nbsp; 586001343 |  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrial  | 326274147 | &nbsp;&nbsp; 326274147 |  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology  | 881240629 | &nbsp;&nbsp; 881237857 |  | 2772  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities  | 37835565 | &nbsp;&nbsp; 37835565 |  | —  |
| &nbsp;&nbsp;&nbsp; Exchange Traded Funds (ETFs) | 203689622 | &nbsp;&nbsp; 203689622 |  | —  |
| &nbsp;&nbsp;&nbsp; Preferred Stocks | 767329 | &nbsp;&nbsp; — |  | 767329  |
| &nbsp;&nbsp;&nbsp; Short-Term Investments:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | 37295481 | &nbsp;&nbsp; — | 37295481 | —  |
| **Total Investments, at value** | **$3481658360** | &nbsp;&nbsp; **$3443592778** | **$37295481** | **$770101**  |
| **Other Financial Instruments – Liabilities**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts | $(35704) | &nbsp;&nbsp; $(35704) | $— | $—  |
| &nbsp;&nbsp;&nbsp; **Total Other Financial Instruments –** <br>**Liabilities** | **$(35704)** | &nbsp;&nbsp; **$(35704)** | **$—** | **$—**  |
| **Destinations Small-Mid Cap Equity Fund** | **Destinations Small-Mid Cap Equity Fund** | **Destinations Small-Mid Cap Equity Fund** | **Destinations Small-Mid Cap Equity Fund** | **Destinations Small-Mid Cap Equity Fund** |
| Investments, at value<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Basic Materials  | $42359234 | &nbsp;&nbsp; $42359234 | $— | $—  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communications  | 26938153 | &nbsp;&nbsp; 26938153 |  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Cyclical  | 84237432 | &nbsp;&nbsp; 84237432 |  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Non-cyclical  | 139485126 | &nbsp;&nbsp; 139287433 |  | 197693  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy  | 37491563 | &nbsp;&nbsp; 37491563 |  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial  | 111789508 | &nbsp;&nbsp; 111789508 |  | —<sup>\*</sup>  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government  | 34821 | &nbsp;&nbsp; 34821 |  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrial  | 165636520 | &nbsp;&nbsp; 165636520 |  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology  | 68083721 | &nbsp;&nbsp; 68083721 |  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities  | 25044512 | &nbsp;&nbsp; 25044512 |  | —  |
| &nbsp;&nbsp;&nbsp; Exchange Traded Funds (ETFs) | 32806406 | &nbsp;&nbsp; 32806406 |  | —  |
| &nbsp;&nbsp;&nbsp; Limited Partnership | 13025 | &nbsp;&nbsp; 13025 |  | —  |
| &nbsp;&nbsp;&nbsp; Closed-End Fund | 3026 | &nbsp;&nbsp; 3026 |  | —  |
| &nbsp;&nbsp;&nbsp; Warrant | 232 | &nbsp;&nbsp; 232 |  | —  |
| &nbsp;&nbsp;&nbsp; Right | 5 | &nbsp;&nbsp; 5 |  | —  |
| &nbsp;&nbsp;&nbsp; Short-Term Investments:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | 13698788 | &nbsp;&nbsp; — | 13698788 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Fund | 5692844 | &nbsp;&nbsp; 5692844 |  | —  |
| **Total Investments, at value** | **$753314916** | &nbsp;&nbsp; **$739418435** | **$13698788** | **$197693**  |
| **Other Financial Instruments – Assets**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts | $44047 | &nbsp;&nbsp; $44047 | $— | $—  |
| **Total Other Financial Instruments – Assets** | **$44047** | &nbsp;&nbsp; **$44047** | **$—** | **$—**  |

---

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**Notes to Financial Statements** 

**February 28, 2026(continued)** 

3. Investment valuation (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total Fair Value at**<br>**February 28, 2026** | **Unadjusted Quoted** <br>**Prices in Active** <br>**Markets for Identical** <br>**Investments**<br>**(Level 1)** | **Significant** <br>**Observable**<br>**Inputs**<br>**(Level 2)** | **Significant**<br>**Unobservable**<br>**Inputs**<br>**(Level 3)**  |
| **Destinations International Equity Fund** | **Destinations International Equity Fund** | **Destinations International Equity Fund** | **Destinations International Equity Fund** | **Destinations International Equity Fund** |
| Investments, at value | Investments, at value | Investments, at value | Investments, at value | Investments, at value |
| &nbsp;&nbsp;&nbsp; Common Stocks: | &nbsp;&nbsp;&nbsp; Common Stocks: | &nbsp;&nbsp;&nbsp; Common Stocks: | &nbsp;&nbsp;&nbsp; Common Stocks: | &nbsp;&nbsp;&nbsp; Common Stocks: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Australia | $55974804 | &nbsp;&nbsp; $469739 | $55505065 | $—  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Austria | 1203670 | &nbsp;&nbsp; — | 1203670 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Belgium | 4273152 | &nbsp;&nbsp; 297292 | 3975860 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bermuda | 2366558 | &nbsp;&nbsp; 210559 | 2155999 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brazil | 19455925 | &nbsp;&nbsp; 9533677 | 9922248 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canada | 145096655 | &nbsp;&nbsp; 145096655 |  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chile | 2545684 | &nbsp;&nbsp; 2206901 | 338783 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; China | 59978921 | &nbsp;&nbsp; 15098926 | 44879995 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Czech Republic | 81426 | &nbsp;&nbsp; — | 81426 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Denmark | 28457591 | &nbsp;&nbsp; 2045781 | 26411810 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finland | 39791730 | &nbsp;&nbsp; — | 39791730 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; France | 135790782 | &nbsp;&nbsp; — | 135790782 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Germany | 114578829 | &nbsp;&nbsp; — | 114578829 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Greece | 6656828  | &nbsp;&nbsp; — | 6656828  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hong Kong | 40609642 | &nbsp;&nbsp; 8563016 | 32046626 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; India | 72407922 | &nbsp;&nbsp; — | 72407922 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indonesia | 21438294 | &nbsp;&nbsp; — | 21438294 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ireland | 31635871 | &nbsp;&nbsp; 8644661 | 22991210 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Israel | 12432387 | &nbsp;&nbsp; 6635408 | 5796979 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Italy | 62447461 | &nbsp;&nbsp; — | 62447461 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Japan | 317007441 | &nbsp;&nbsp; — | 317007441 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Luxembourg | 12684692 | &nbsp;&nbsp; 2077802 | 10606890 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Macau | 118722 | &nbsp;&nbsp; — | 118722 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Malaysia | 2189377 | &nbsp;&nbsp; — | 2189377 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mexico | 18649338 | &nbsp;&nbsp; — | 18649338 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Netherlands | 77325420 | &nbsp;&nbsp; 1375088 | 75950332 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Zealand | 1053845 | &nbsp;&nbsp; — | 1053845 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Norway | 29067332 | &nbsp;&nbsp; — | 29067332 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Peru | 4009002 | &nbsp;&nbsp; 4009002 |  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Philippines | 2691228 | &nbsp;&nbsp; — | 2691228 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Poland | 5230655 | &nbsp;&nbsp; — | 5230655 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Portugal | 4693099 | &nbsp;&nbsp; — | 4693099 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Russia | 845 | &nbsp;&nbsp; — |  | 845  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Saudi Arabia | 2692437 | &nbsp;&nbsp; — | 2692437 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Singapore | 11645087 | &nbsp;&nbsp; 4853402 | 6791685 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South Africa | 6012032 | &nbsp;&nbsp; 141434 | 5870598 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South Korea | 117336369 | &nbsp;&nbsp; 127466 | 117208903 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spain | 31334800 | &nbsp;&nbsp; — | 31334800 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sweden | 55779464 | &nbsp;&nbsp; 3211681 | 52567783 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Switzerland | 106150431 | &nbsp;&nbsp; 13950119 | 92200312 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Taiwan | 92567364 | &nbsp;&nbsp; 621428 | 91945936 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Thailand | 2869979 | &nbsp;&nbsp; — | 2869979 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Turkey | 506520 | &nbsp;&nbsp; — | 506520 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Arab Emirates | 463710  | &nbsp;&nbsp; — | 463710  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Kingdom | 203862472 | &nbsp;&nbsp; 17261994 | 186444762 | 155716  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States | 23447000 | &nbsp;&nbsp; 22194552 | 396496 | 855952  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uruguay | 3151341 | &nbsp;&nbsp; 3151341 |  | —  |

---

337<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Notes to Financial Statements** 

**February 28, 2026(continued)** 

3. Investment valuation (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total Fair Value at**<br>**February 28, 2026** | **Unadjusted Quoted** <br>**Prices in Active** <br>**Markets for Identical** <br>**Investments**<br>**(Level 1)** | **Significant** <br>**Observable**<br>**Inputs**<br>**(Level 2)** | **Significant**<br>**Unobservable**<br>**Inputs**<br>**(Level 3)**  |
| **Destinations International Equity Fund (continued)** | **Destinations International Equity Fund (continued)** | **Destinations International Equity Fund (continued)** | **Destinations International Equity Fund (continued)** | **Destinations International Equity Fund (continued)** |
| Investments, at value (continued) | Investments, at value (continued) | Investments, at value (continued) | Investments, at value (continued) | Investments, at value (continued) |
| &nbsp;&nbsp;&nbsp; Common Stocks: (continued) | &nbsp;&nbsp;&nbsp; Common Stocks: (continued) | &nbsp;&nbsp;&nbsp; Common Stocks: (continued) | &nbsp;&nbsp;&nbsp; Common Stocks: (continued) | &nbsp;&nbsp;&nbsp; Common Stocks: (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vietnam | $2266446 | &nbsp;&nbsp; $— | $2266446 | $—  |
| &nbsp;&nbsp;&nbsp; Exchange Traded Funds (ETFs) | 151218913 | &nbsp;&nbsp; 151218913 |  | —  |
| &nbsp;&nbsp;&nbsp; Preferred Stocks:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Germany | 6576336 | &nbsp;&nbsp; — | 6576336 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States | 47885 | &nbsp;&nbsp; — |  | 47885  |
| &nbsp;&nbsp;&nbsp; Warrants:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canada | —<sup>\*</sup> | &nbsp;&nbsp; — |  | —<sup>\*</sup>  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States | 568 | &nbsp;&nbsp; 568 |  | —  |
| &nbsp;&nbsp;&nbsp; Short-Term Investments:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | 16300504 | &nbsp;&nbsp; — | 16300504 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Government Agency | 11268910 | &nbsp;&nbsp; — | 11268910 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Fund | 15763800 | &nbsp;&nbsp; 15763800 |  | —  |
| **Total Investments, at value** | **$2193207496**  | &nbsp;&nbsp; **$438761205** | **$1753385893**  | **$1060398**  |
| **Other Financial Instruments – Assets**<br>|  |  |  |  |
| Futures Contracts | $460059 | &nbsp;&nbsp; $460059 | $— | $—  |
| **Total Other Financial Instruments – Assets** | **$460059** | &nbsp;&nbsp; **$460059** | **$—** | **$—**  |
| **Destinations Equity Income Fund**  | **Destinations Equity Income Fund**  | **Destinations Equity Income Fund**  | **Destinations Equity Income Fund**  | **Destinations Equity Income Fund**  |
| Investments, at value <br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Basic Materials  | $18592406 | &nbsp;&nbsp; $9790558 | $8801848 | $—  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communications  | 32317166 | &nbsp;&nbsp; 23406788 | 8910378 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Cyclical  | 21501476 | &nbsp;&nbsp; 15746443 | 5755033 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Non-cyclical  | 88948553 | &nbsp;&nbsp; 61896845 | 27051708 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy  | 48905600 | &nbsp;&nbsp; 39103264 | 9802336 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial  | 103295316 | &nbsp;&nbsp; 73871622 | 29423694 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrial  | 41676599 | &nbsp;&nbsp; 21533635 | 20142964 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology  | 20936735 | &nbsp;&nbsp; 17550204 | 3386531 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities  | 53697289 | &nbsp;&nbsp; 43661813 | 10035476 | —  |
| &nbsp;&nbsp;&nbsp; Exchange Traded Funds (ETFs) | 68573485 | &nbsp;&nbsp; 68573485 |  | —  |
| &nbsp;&nbsp;&nbsp; Limited Partnership | 2477758 | &nbsp;&nbsp; 2477758 |  | —  |
| &nbsp;&nbsp;&nbsp; Convertible Preferred Stock | 2362932 | &nbsp;&nbsp; 2362932 |  | —  |
| &nbsp;&nbsp;&nbsp; Short-Term Investments:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Notes | 6966337 | &nbsp;&nbsp; — | 6966337 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | 10989856 | &nbsp;&nbsp; — | 10989856 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Fund | 5423 | &nbsp;&nbsp; 5423 |  | —  |
| **Total Investments, at value** | **$521246931** | &nbsp;&nbsp; **$379980770** | **$141266161** | **$—**  |
| **Other Financial Instruments – Liabilities**<br>|  |  |  |  |
| Options Contracts Written | $(43469) | &nbsp;&nbsp; $(43469) | $— | $—  |
| &nbsp;&nbsp;&nbsp; **Total Other Financial Instruments –** <br>**Liabilities** | **$(43469)** | &nbsp;&nbsp; **$(43469)** | **$—** | **$—**  |

---

338<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Notes to Financial Statements** 

**February 28, 2026(continued)** 

3. Investment valuation (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total Fair Value at**<br>**February 28, 2026** | **Unadjusted Quoted** <br>**Prices in Active** <br>**Markets for Identical** <br>**Investments**<br>**(Level 1)** | **Significant** <br>**Observable**<br>**Inputs**<br>**(Level 2)** | **Significant**<br>**Unobservable**<br>**Inputs**<br>**(Level 3)**  |
| **Destinations Core Fixed Income Fund** | **Destinations Core Fixed Income Fund** | **Destinations Core Fixed Income Fund** | **Destinations Core Fixed Income Fund** | **Destinations Core Fixed Income Fund** |
| Investments, at value<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.S. Government Agencies & Obligations | $436323442 | &nbsp;&nbsp; $— | $436323442 | $—  |
| &nbsp;&nbsp;&nbsp; Mortgage-Backed Securities | 339124810 | &nbsp;&nbsp; — | 339124810 | —  |
| &nbsp;&nbsp;&nbsp; Collateralized Mortgage Obligations | 278998963 | &nbsp;&nbsp; — | 278998963 | —  |
| &nbsp;&nbsp;&nbsp; Corporate Bonds & Notes | 267891965 | &nbsp;&nbsp; — | 267891965 | —  |
| &nbsp;&nbsp;&nbsp; Asset-Backed Securities | 145954235 | &nbsp;&nbsp; — | 145954235 | —  |
| &nbsp;&nbsp;&nbsp; Collateralized Loan Obligations | 25912200 | &nbsp;&nbsp; — | 25912200 | —  |
| &nbsp;&nbsp;&nbsp; Sovereign Bonds | 10028911 | &nbsp;&nbsp; — | 10028911 | —  |
| &nbsp;&nbsp;&nbsp; Senior Loans | 4191529 | &nbsp;&nbsp; — | 4191529 | —  |
| &nbsp;&nbsp;&nbsp; Municipal Bonds | 599997 | &nbsp;&nbsp; — | 599997 | —  |
| &nbsp;&nbsp;&nbsp; Exchange Traded Fund (ETF) | 26785317 | &nbsp;&nbsp; 26785317 |  | —  |
| &nbsp;&nbsp;&nbsp; Common Stock | 4990 | &nbsp;&nbsp; — |  | 4990  |
| &nbsp;&nbsp;&nbsp; Short-Term Investments:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | 37948028 | &nbsp;&nbsp; — | 37948028 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Fund | 618657 | &nbsp;&nbsp; 618657 |  | —  |
| **Total Investments, at value** | **$1574383044** | &nbsp;&nbsp; **$27403974** | **$1546974080** | **$4990**  |
| **Other Financial Instruments – Assets**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts | $79954 | &nbsp;&nbsp; $79954 | $— | $—  |
| &nbsp;&nbsp;&nbsp; Centrally Cleared Interest Rate Swaps Contracts | 480673 | &nbsp;&nbsp; — | 480673 | —  |
| **Total Other Financial Instruments – Assets** | **$560627** | &nbsp;&nbsp; **$79954** | **$480673** | **$—**  |
| **Other Financial Instruments – Liabilities**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts | $(76188) | &nbsp;&nbsp; $(76188) | $— | $—  |
| &nbsp;&nbsp;&nbsp; Centrally Cleared Interest Rate Swaps Contracts | (322431) | &nbsp;&nbsp; — | (322431) | —  |
| &nbsp;&nbsp;&nbsp; Centrally Cleared Credit Default Swap  | (14708) | &nbsp;&nbsp; — | (14708) | —  |
| &nbsp;&nbsp;&nbsp; Forward Sale Commitments | (19336394) | &nbsp;&nbsp; — | (19336394) | —  |
| &nbsp;&nbsp;&nbsp; **Total Other Financial Instruments –** <br>**Liabilities** | **$(19749721)** | &nbsp;&nbsp; **$(76188)** | **$(19673533)** | **$—**  |
| **Destinations Low Duration Fixed Income Fund** | **Destinations Low Duration Fixed Income Fund** | **Destinations Low Duration Fixed Income Fund** | **Destinations Low Duration Fixed Income Fund** | **Destinations Low Duration Fixed Income Fund** |
| Investments, at value  | Investments, at value  | Investments, at value  | Investments, at value  | Investments, at value  |
| &nbsp;&nbsp;&nbsp; Corporate Bonds & Notes:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Basic Materials | $1122952 | &nbsp;&nbsp; $—  | $1122952 | $—  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communications | 15655763 | &nbsp;&nbsp; — | 14461960 | 1193803  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Cyclical | 3060414 | &nbsp;&nbsp; — | 3060414 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Non-cyclical | 26142408 | &nbsp;&nbsp; — | 20279958 | 5862450  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | 4461367 | &nbsp;&nbsp; — | 4461367 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial | 15794757 | &nbsp;&nbsp; — | 15794757 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrial | 12462709 | &nbsp;&nbsp; — | 12462709 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology | 14499452 | &nbsp;&nbsp; — | 14499452 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities | 2780810 | &nbsp;&nbsp; — | 2780810 | —  |
| &nbsp;&nbsp;&nbsp; Collateralized Mortgage Obligations | 33130984 | &nbsp;&nbsp; — | 33130984 | —  |
| &nbsp;&nbsp;&nbsp; U.S. Government Agencies & Obligations | 28636011 | &nbsp;&nbsp; — | 28636011 | —  |
| &nbsp;&nbsp;&nbsp; Collateralized Loan Obligations | 15846380 | &nbsp;&nbsp; — | 15846380 | —  |
| &nbsp;&nbsp;&nbsp; Asset-Backed Securities | 10713167 | &nbsp;&nbsp; — | 10713167 | —  |

---

339<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Notes to Financial Statements** 

**February 28, 2026(continued)** 

3. Investment valuation (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total Fair Value at**<br>**February 28, 2026** | **Unadjusted Quoted** <br>**Prices in Active** <br>**Markets for Identical** <br>**Investments**<br>**(Level 1)** | **Significant** <br>**Observable**<br>**Inputs**<br>**(Level 2)** | **Significant**<br>**Unobservable**<br>**Inputs**<br>**(Level 3)**  |
| **Destinations Low Duration Fixed Income Fund (continued)** | **Destinations Low Duration Fixed Income Fund (continued)** | **Destinations Low Duration Fixed Income Fund (continued)** | **Destinations Low Duration Fixed Income Fund (continued)** | **Destinations Low Duration Fixed Income Fund (continued)** |
| Investments, at value (continued)  | Investments, at value (continued)  | Investments, at value (continued)  | Investments, at value (continued)  | Investments, at value (continued)  |
| &nbsp;&nbsp;&nbsp; Senior Loans:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Kingdom | $1465522 | &nbsp;&nbsp; $— | $1465522 | $—  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States | 7873102 | &nbsp;&nbsp; — | 5036118 | 2836984  |
| &nbsp;&nbsp;&nbsp; Mortgage-Backed Securities | 3703326 | &nbsp;&nbsp; — | 3703326 | —  |
| &nbsp;&nbsp;&nbsp; Sovereign Bonds | 250116 | &nbsp;&nbsp; — | 250116 | —  |
| &nbsp;&nbsp;&nbsp; Exchange Traded Fund (ETF) | 35971955 | &nbsp;&nbsp; 35971955 |  | —  |
| &nbsp;&nbsp;&nbsp; Common Stocks:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communications  | —<sup>\*</sup> | &nbsp;&nbsp; — |  | —<sup>\*</sup>  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Non-cyclical  | 955861 | &nbsp;&nbsp; 121880 | —<sup>\*</sup> | 833981  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diversified  | 16326832 | &nbsp;&nbsp; 16326832 |  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial  | —<sup>\*</sup> | &nbsp;&nbsp; — |  | —<sup>\*</sup>  |
| &nbsp;&nbsp;&nbsp; Preferred Stock | 1450295 | &nbsp;&nbsp; 1450295 |  | —  |
| &nbsp;&nbsp;&nbsp; Warrant | —<sup>\*</sup> | &nbsp;&nbsp; — |  | —<sup>\*</sup>  |
| &nbsp;&nbsp;&nbsp; Short-Term Investments:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commercial Papers | 9188118 | &nbsp;&nbsp; — | 9188118 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Note | 1642106 | &nbsp;&nbsp; — |  | 1642106  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | 20715828 | &nbsp;&nbsp; — | 20715828 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Fund | 4109478 | &nbsp;&nbsp; 4109478 |  | —  |
| **Total Investments, at value** | **$287959713** | &nbsp;&nbsp; **$57980440** | **$217609949** | **$12369324**  |
| **Other Financial Instruments – Liabilities**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts | $(189360) | &nbsp;&nbsp; $— | $(189360) | $—  |
| &nbsp;&nbsp;&nbsp; **Total Other Financial Instruments –** <br>**Liabilities** | **$(189360)** | &nbsp;&nbsp; **$—** | **$(189360)** | **$—**  |
| **Destinations Global Fixed Income Opportunities Fund** | **Destinations Global Fixed Income Opportunities Fund** | **Destinations Global Fixed Income Opportunities Fund** | **Destinations Global Fixed Income Opportunities Fund** | **Destinations Global Fixed Income Opportunities Fund** |
| Investments, at value | Investments, at value | Investments, at value | Investments, at value | Investments, at value |
| &nbsp;&nbsp;&nbsp; Corporate Bonds & Notes: | &nbsp;&nbsp;&nbsp; Corporate Bonds & Notes: | &nbsp;&nbsp;&nbsp; Corporate Bonds & Notes: | &nbsp;&nbsp;&nbsp; Corporate Bonds & Notes: | &nbsp;&nbsp;&nbsp; Corporate Bonds & Notes: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Argentina | $874203 | &nbsp;&nbsp; $—  | $874203 | $—  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Australia | 1018802 | &nbsp;&nbsp; — | 1018802 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Austria | 824807 | &nbsp;&nbsp; — | 824807 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bermuda | 7347944 | &nbsp;&nbsp; — | 7347944 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brazil | 3421894 | &nbsp;&nbsp; — | 3421894 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; British Virgin Islands | 2324241 | &nbsp;&nbsp; — | 2324241 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canada | 16746359 | &nbsp;&nbsp; — | 16746359 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cayman Islands | 15484723 | &nbsp;&nbsp; — | 15484723 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chile | 13315544 | &nbsp;&nbsp; — | 13315544 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colombia | 3722042 | &nbsp;&nbsp; — | 3722042 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Czech Republic | 916608 | &nbsp;&nbsp; — | 916608 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; France | 4561884 | &nbsp;&nbsp; — | 4561884 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Germany | 20346563 | &nbsp;&nbsp; — | 20346563 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gibraltar | 12294426 | &nbsp;&nbsp; — | 12294426 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Guatemala | 411140 | &nbsp;&nbsp; — | 411140 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; India | 12242114 | &nbsp;&nbsp; — | 12242114 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indonesia | 5408964 | &nbsp;&nbsp; — | 5408964 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ireland | 3378711 | &nbsp;&nbsp; — | 3378711 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Isle of Man | 2628038 | &nbsp;&nbsp; — | 2628038 | —  |

---

340<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Notes to Financial Statements** 

**February 28, 2026(continued)** 

3. Investment valuation (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total Fair Value at**<br>**February 28, 2026** | **Unadjusted Quoted** <br>**Prices in Active** <br>**Markets for Identical** <br>**Investments**<br>**(Level 1)** | **Significant** <br>**Observable**<br>**Inputs**<br>**(Level 2)** | **Significant**<br>**Unobservable**<br>**Inputs**<br>**(Level 3)**  |
| **Destinations Global Fixed Income Opportunities Fund (continued)** | **Destinations Global Fixed Income Opportunities Fund (continued)** | **Destinations Global Fixed Income Opportunities Fund (continued)** | **Destinations Global Fixed Income Opportunities Fund (continued)** | **Destinations Global Fixed Income Opportunities Fund (continued)** |
| Investments, at value (continued) | Investments, at value (continued) | Investments, at value (continued) | Investments, at value (continued) | Investments, at value (continued) |
| &nbsp;&nbsp;&nbsp; Corporate Bonds & Notes: (continued) | &nbsp;&nbsp;&nbsp; Corporate Bonds & Notes: (continued) | &nbsp;&nbsp;&nbsp; Corporate Bonds & Notes: (continued) | &nbsp;&nbsp;&nbsp; Corporate Bonds & Notes: (continued) | &nbsp;&nbsp;&nbsp; Corporate Bonds & Notes: (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Italy | $6520228 | &nbsp;&nbsp; $— | $6520228 | $—  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Japan | 1971353 | &nbsp;&nbsp; — | 1971353 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jersey, Channel Islands | 3678197 | &nbsp;&nbsp; — | 3678197 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kazakhstan | 1331321 | &nbsp;&nbsp; — | 1331321 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Luxembourg | 26129734 | &nbsp;&nbsp; — | 26129734 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Malaysia | 398654 | &nbsp;&nbsp; — | 398654 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marshall Islands | 1249611 | &nbsp;&nbsp; — | 1249611 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mexico | 24887671 | &nbsp;&nbsp; — | 24887671 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morocco | 2058582 | &nbsp;&nbsp; — | 2058582 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Multinational | 2967057 | &nbsp;&nbsp; — | 2967057 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Netherlands | 11025477 | &nbsp;&nbsp; — | 11025477 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Norway | 8703232 | &nbsp;&nbsp; — | 8703232 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Panama | 1296790 | &nbsp;&nbsp; — | 1296790 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Paraguay | 363654 | &nbsp;&nbsp; — | 363654 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Peru | 13458185 | &nbsp;&nbsp; — | 13458185 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Portugal | —<sup>\*</sup> | &nbsp;&nbsp; — | —<sup>\*</sup> | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Singapore | 17872850 | &nbsp;&nbsp; — | 17872850 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spain | 3526392 | &nbsp;&nbsp; — | 3526392 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sweden | 22864393 | &nbsp;&nbsp; — | 20817473 | 2046920  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Kingdom | 35563068 | &nbsp;&nbsp; — | 35563068 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States | 232956763 | &nbsp;&nbsp; — | 228067563 | 4889200  |
| &nbsp;&nbsp;&nbsp; Senior Loans:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States | 34052882 | &nbsp;&nbsp; — | 33541268 | 511614  |
| &nbsp;&nbsp;&nbsp; Sovereign Bonds | 10337219 | &nbsp;&nbsp; — | 10337219 | —  |
| &nbsp;&nbsp;&nbsp; U.S. Government Agency & Obligation | 5002388 | &nbsp;&nbsp; — | 5002388 | —  |
| &nbsp;&nbsp;&nbsp; Asset-Backed Securities | 2365118 | &nbsp;&nbsp; — | 2365118 | —  |
| &nbsp;&nbsp;&nbsp; Common Stocks:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Australia | 54943 | &nbsp;&nbsp; 54943 |  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canada | —<sup>\*</sup> | &nbsp;&nbsp; — | —<sup>\*</sup> | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mexico | 1173435 | &nbsp;&nbsp; 1173435 |  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sweden | —<sup>\*</sup> | &nbsp;&nbsp; — |  | —<sup>\*</sup>  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Kingdom | 2070600 | &nbsp;&nbsp; 2070600 |  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States | 28794759 | &nbsp;&nbsp; 23036561 |  | 5758198  |
| &nbsp;&nbsp;&nbsp; Exchange Traded Fund (ETF) | 15590024 | &nbsp;&nbsp; 15590024 |  | —  |
| &nbsp;&nbsp;&nbsp; Preferred Stocks | 7903049 | &nbsp;&nbsp; 7390434 |  | 512615  |
| &nbsp;&nbsp;&nbsp; Limited Partnership | 332725 | &nbsp;&nbsp; 332725 |  | —  |
| &nbsp;&nbsp;&nbsp; Convertible Preferred Stock | 268996 | &nbsp;&nbsp; 268996 |  | —  |
| &nbsp;&nbsp;&nbsp; Warrants | 43614 | &nbsp;&nbsp; — |  | 43614  |
| &nbsp;&nbsp;&nbsp; Short-Term Investments:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commercial Papers | 18434499 | &nbsp;&nbsp; — | 18434499 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Note | 2815588 | &nbsp;&nbsp; — |  | 2815588  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | 17588687 | &nbsp;&nbsp; — | 17588687 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Fund | 13699494 | &nbsp;&nbsp; 13699494 |  | —  |
| **Total Investments, at value** | **$706620239** | &nbsp;&nbsp; **$63617212** | **$626425278** | **$16577749** |

---

341<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Notes to Financial Statements** 

**February 28, 2026(continued)** 

3. Investment valuation (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total Fair Value at** <br>**February 28, 2026**  | **Unadjusted Quoted** <br>**Prices in Active** <br>**Markets for Identical** <br>**Investments** <br>**(Level 1)**  | **Significant** <br>**Observable** <br>**Inputs** <br>**(Level 2)**  | **Significant** <br>**Unobservable** <br>**Inputs** <br>**(Level 3)**  |
| **Destinations Global Fixed Income Opportunities Fund (continued)** | **Destinations Global Fixed Income Opportunities Fund (continued)** | **Destinations Global Fixed Income Opportunities Fund (continued)** | **Destinations Global Fixed Income Opportunities Fund (continued)** | **Destinations Global Fixed Income Opportunities Fund (continued)** |
| **Other Financial Instruments – Assets**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts | $1164207 | &nbsp;&nbsp; $— | $1164207 | $—  |
| **Total Other Financial Instruments – Assets** | **$1164207** | &nbsp;&nbsp; **$—** | **$1164207** | **$—**  |
| **Other Financial Instruments – Liabilities**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Options Contracts Written | $(191510) | &nbsp;&nbsp; $(191510) | $— | $—  |
| &nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts | (455822) | &nbsp;&nbsp; — | (455822) | —  |
| **Securities Sold Short:**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Corporate Bond & Notes | (3759690) | &nbsp;&nbsp; — | (3759690) | —  |
| &nbsp;&nbsp;&nbsp; Exchange Traded Fund (ETF) | (1179319) | &nbsp;&nbsp; (1179319) |  | —  |
| &nbsp;&nbsp;&nbsp; **Total Other Financial Instruments –** <br>**Liabilities** | **$(5586341)** | &nbsp;&nbsp; **$(1370829)** | **$(4215512)** | **$—**  |
| **Destinations Municipal Fixed Income Fund** | **Destinations Municipal Fixed Income Fund** | **Destinations Municipal Fixed Income Fund** | **Destinations Municipal Fixed Income Fund** | **Destinations Municipal Fixed Income Fund** |
| Investments, at value<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Municipal Bonds | $573853319 | &nbsp;&nbsp; $— | $573853319 | $—  |
| &nbsp;&nbsp;&nbsp; Exchange Traded Fund (ETF) | 13128722 | &nbsp;&nbsp; 13128722 |  | —  |
| &nbsp;&nbsp;&nbsp; Warrant | 13664 | &nbsp;&nbsp; — |  | 13664  |
| &nbsp;&nbsp;&nbsp; Short-Term Investments:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds | 3552271 | &nbsp;&nbsp; — | 3552271 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | 46588954 | &nbsp;&nbsp; — | 46588954 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Fund | 13214025 | &nbsp;&nbsp; 13214025 |  | —  |
| **Total Investments, at value** | **$650350955** | &nbsp;&nbsp; **$26342747** | **$623994544** | **$13664**  |
| **Destinations Multi Strategy Alternatives Fund**  | **Destinations Multi Strategy Alternatives Fund**  | **Destinations Multi Strategy Alternatives Fund**  | **Destinations Multi Strategy Alternatives Fund**  | **Destinations Multi Strategy Alternatives Fund**  |
| Investments, at value  | Investments, at value  | Investments, at value  | Investments, at value  | Investments, at value  |
| &nbsp;&nbsp;&nbsp; Collateralized Mortgage Obligations | $117127055 | &nbsp;&nbsp; $— | $117127055 | $—  |
| &nbsp;&nbsp;&nbsp; Asset-Backed Securities | 59959055 | &nbsp;&nbsp; — | 59959055 | —  |
| &nbsp;&nbsp;&nbsp; Collateralized Loan Obligations | 5692700 | &nbsp;&nbsp; — | 5692700 | —  |
| &nbsp;&nbsp;&nbsp; Common Stocks | 88130033 | &nbsp;&nbsp; 88130033 |  | —  |
| &nbsp;&nbsp;&nbsp; Open-End Fund | 74757171 | &nbsp;&nbsp; — | 74757171 | —  |
| &nbsp;&nbsp;&nbsp; Exchange Traded Fund (ETF) | 23167575 | &nbsp;&nbsp; 23167575 |  | —  |
| &nbsp;&nbsp;&nbsp; Warrants:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diversified  | 921626 | &nbsp;&nbsp; 912948 |  | 8678  |
| &nbsp;&nbsp;&nbsp; Rights | 303525 | &nbsp;&nbsp; 303525 |  | —  |
| &nbsp;&nbsp;&nbsp; Short-Term Investments:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | 138082925 | &nbsp;&nbsp; — | 138082925 | —  |
| **Total Investments, at value** | **$508141665** | &nbsp;&nbsp; **$112514081** | **$395618906** | **$8678**  |
| **Other Financial Instruments – Assets**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; OTC Credit Default Swaps | $120432 | &nbsp;&nbsp; $— | $120432 | $—  |
| &nbsp;&nbsp;&nbsp; OTC Total Return Swaps | 244808 | &nbsp;&nbsp; — | 244808 | —  |
| **Total Other Financial Instruments – Assets** | **$365240** | &nbsp;&nbsp; **$—** | **$365240** | **$—** |

---

342<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Notes to Financial Statements** 

**February 28, 2026(continued)** 

3. Investment valuation (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total Fair Value at** <br>**February 28, 2026**  | **Unadjusted Quoted** <br>**Prices in Active** <br>**Markets for Identical** <br>**Investments** <br>**(Level 1)**  | **Significant** <br>**Observable** <br>**Inputs** <br>**(Level 2)**  | **Significant** <br>**Unobservable** <br>**Inputs** <br>**(Level 3)**  |
| **Destinations Multi Strategy Alternatives Fund (continued)** | **Destinations Multi Strategy Alternatives Fund (continued)** | **Destinations Multi Strategy Alternatives Fund (continued)** | **Destinations Multi Strategy Alternatives Fund (continued)** | **Destinations Multi Strategy Alternatives Fund (continued)** |
| **Other Financial Instruments – Liabilities**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; OTC Credit Default Swaps | $(640204) | &nbsp;&nbsp; $— | $(640204) | $—  |
| &nbsp;&nbsp;&nbsp; OTC Total Return Swaps | (63052) | &nbsp;&nbsp; — | (63052) | —  |
| **Securities Sold Short:**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks | (7343298) | &nbsp;&nbsp; (7343298) |  | —  |
| &nbsp;&nbsp;&nbsp; **Total Other Financial Instruments –** <br>**Liabilities** | **$(8046554)** | &nbsp;&nbsp; **$(7343298)** | **$(703256)** | **$—**  |
| **Destinations Shelter Fund** | **Destinations Shelter Fund** | **Destinations Shelter Fund** | **Destinations Shelter Fund** | **Destinations Shelter Fund** |
| Investments, at value<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks | $89850852 | &nbsp;&nbsp; $89850852 | $— | $—  |
| &nbsp;&nbsp;&nbsp; Purchased Options | 1131545 | &nbsp;&nbsp; 1131545 |  | —  |
| &nbsp;&nbsp;&nbsp; Short-Term Investments:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | 1702847 | &nbsp;&nbsp; — | 1702847 | —  |
| **Total Investments, at value** | **$92685244** | &nbsp;&nbsp; **$90982397** | **$1702847** | **$—**  |
| **Other Financial Instruments – Liabilities**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Options Contracts Written | $(530165) | &nbsp;&nbsp; $(530165) | $— | $—  |
| &nbsp;&nbsp;&nbsp; **Total Other Financial Instruments –** <br>**Liabilities** | **$(530165)** | &nbsp;&nbsp; **$(530165)** | **$—** | **$—**  |
| **Destinations Real Assets Fund**  | **Destinations Real Assets Fund**  | **Destinations Real Assets Fund**  | **Destinations Real Assets Fund**  | **Destinations Real Assets Fund**  |
| Investments, at value  | Investments, at value  | Investments, at value  | Investments, at value  | Investments, at value  |
| &nbsp;&nbsp;&nbsp; Common Stocks:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Australia | $14923267 | &nbsp;&nbsp; $— | $14923267 | $—  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Belgium | 1873145 | &nbsp;&nbsp; — | 1873145 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canada | 34632804 | &nbsp;&nbsp; 34632804 |  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; China | 746705 | &nbsp;&nbsp; — | 746705 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; France | 7338646 | &nbsp;&nbsp; — | 7338646 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Germany | 4308766 | &nbsp;&nbsp; — | 4308766 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Greece | 1038974 | &nbsp;&nbsp; — | 1038974 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hong Kong | 7479912 | &nbsp;&nbsp; — | 7479912 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ireland | 1663070 | &nbsp;&nbsp; 459288 | 1203782 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Italy | 6956198 | &nbsp;&nbsp; — | 6956198 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Japan | 11905062 | &nbsp;&nbsp; — | 11905062 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Luxembourg | 1774176 | &nbsp;&nbsp; 1774176 |  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mexico | 4135053 | &nbsp;&nbsp; 4135053 |  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Netherlands | 2289086 | &nbsp;&nbsp; — | 2289086 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Zealand | 3770096 | &nbsp;&nbsp; — | 3770096 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Norway | 624962 | &nbsp;&nbsp; — | 624962 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Philippines | 456995 | &nbsp;&nbsp; — | 456995 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Singapore | 3377464 | &nbsp;&nbsp; — | 3377464 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South Africa | 1708313 | &nbsp;&nbsp; 455508 | 1252805 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spain | 15066819 | &nbsp;&nbsp; — | 15066819 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sweden | 2653369 | &nbsp;&nbsp; — | 2653369 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Thailand | 518697 | &nbsp;&nbsp; — | 518697 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Kingdom | 25734911 | &nbsp;&nbsp; 1809358 | 23925553 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States | 198370407 | &nbsp;&nbsp; 198370407 |  | —  |

---

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**Notes to Financial Statements** 

**February 28, 2026(continued)** 

3. Investment valuation (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total Fair Value at** <br>**February 28, 2026**  | **Unadjusted Quoted** <br>**Prices in Active** <br>**Markets for Identical** <br>**Investments** <br>**(Level 1)**  | **Significant** <br>**Observable** <br>**Inputs** <br>**(Level 2)**  | **Significant** <br>**Unobservable** <br>**Inputs** <br>**(Level 3)**  |
| **Destinations Real Assets Fund (continued)**  | **Destinations Real Assets Fund (continued)**  | **Destinations Real Assets Fund (continued)**  | **Destinations Real Assets Fund (continued)**  | **Destinations Real Assets Fund (continued)**  |
| Investments, at value (continued)  | Investments, at value (continued)  | Investments, at value (continued)  | Investments, at value (continued)  | Investments, at value (continued)  |
| &nbsp;&nbsp;&nbsp; Exchange Traded Funds (ETFs) | $43271140 | &nbsp;&nbsp; $43271140 | $— | $—  |
| &nbsp;&nbsp;&nbsp; Limited Partnership | 559115 | &nbsp;&nbsp; 559115 |  | —  |
| &nbsp;&nbsp;&nbsp; Closed-End Fund | 165638 | &nbsp;&nbsp; — | 165638 | —  |
| &nbsp;&nbsp;&nbsp; Short-Term Investments:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | 6431668 | &nbsp;&nbsp; — | 6431668 | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Fund | 477874 | &nbsp;&nbsp; 477874 |  | —  |
| **Total Investments, at value** | **$404252332** | &nbsp;&nbsp; **$285944723** | **$118307609** | **$—** |

---

\* Includes securities that are fair valued at $0.

\*\* The following table summarizes the valuation technique used and unobservable input approved by the Valuation Committee to determine the fair value of certain, material Level 3 investments.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Fair Value at** <br>**February 28, 2026** | **Valuation Technique** | **Unobservable Input** | **Range** | **Weighted** <br>**Average**  |
| **Destinations Low Duration Fixed Income Fund**<br>|  |  |  |  |  |
| Senior Loans | &nbsp;&nbsp;&nbsp;&nbsp; $2836984  | Prior Transaction Analysis | Transaction Price | 99.50  | 99.50  |
| Common Stock | &nbsp;&nbsp;&nbsp;&nbsp; $833981  | Prior Transaction Analysis  | Transaction Price  | 1.00  | 1.00  |
| Corporate Bond | &nbsp;&nbsp;&nbsp;&nbsp; $5862450  | Asset-Based Valuation | Discounted Price Share 15% | 85.00  | 85.00  |
| Corporate Bond  | &nbsp;&nbsp;&nbsp;&nbsp; $2835909 | Market Comparables | Enterprise Value/EBITA Multiples | 4.00X  | 4.00X  |
| &nbsp;&nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp;&nbsp; **$12369324**  |  |  |  |  |
|  **Destinations Global Fixed Income Opportunities Fund**<br>|  |  |  |  |  |
| Senior Loans | &nbsp;&nbsp;&nbsp;&nbsp; $266851  | Prior Transaction Analysis | Transaction Price | 100.00  | 100.00  |
| Senior Loans  | &nbsp;&nbsp;&nbsp;&nbsp; $244763  | Market Comparables | Enterprise Value/EBITA Multiples | 8.00X | 8.00X |
| Preferred Stock  | &nbsp;&nbsp;&nbsp;&nbsp; $512615  | Market Comparables | Enterprise Value/EBITA Multiples | 8.00X | 8.00X  |
| Common Stock  | &nbsp;&nbsp;&nbsp;&nbsp; $5801812  | Prior Transaction Analysis | Transaction Price  | 1 - 53000  | 27617.00  |
| Corporate Bond  | &nbsp;&nbsp;&nbsp;&nbsp; $4889200  | Asset-Based Valuation  | Discounted Price Share 15%  | 85.00  | 85.00  |
| Corporate Bond | &nbsp;&nbsp;&nbsp;&nbsp; $4862508  | Market Comparables  | Enterprise Value/EBITA Multiples  | 4.00X  | 4.00X  |
| &nbsp;&nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp;&nbsp; **$16577749**  |  |  |  |  |

---

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 year ended February 28, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Total** | **Corporate** <br>**Bonds &** <br>**Notes** | **Senior** <br>**Loans** | **Common** <br>**Stocks** | **Warrants** | **Short** <br>**Terms**  |
| **Destinations Low Duration Fixed Income Fund** <br>|  |  |  |  |  |  |
| Balance as of February 28, 2025 | $17914916 | $10711118 | $5562972 | $1347134 | $— | $293692  |
| &nbsp;&nbsp;&nbsp; Purchases | 1949642 | 350044 | 86356 |  |  | 1513242  |
| &nbsp;&nbsp;&nbsp; (Sales/Paydowns) | (9503621) | (6607970) | (2275955) | (587677) |  | (32019)  |
| &nbsp;&nbsp;&nbsp; Total realized gain (loss) | (3749555) | 323076 | (2950359) | 314339 |  | (1436611)  |
| &nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 4484519 | 878930 | 2656579 | (239815) |  | 1188825  |
| &nbsp;&nbsp;&nbsp; Accrued discounts (premiums) | 79620 | 207252 | (242609) |  |  | 114977  |
| &nbsp;&nbsp;&nbsp; Transfers In\*\* | 1193803 | 1193803 |  |  |  | —  |
| &nbsp;&nbsp;&nbsp; Transfers Out |  |  |  |  |  | —  |
| Balance as of February 28, 2026 | $12369324 | $7056253 | $2836984 | $833981<sup>\*</sup> | $—<sup>\*</sup> | $1642106  |
|  Change in unrealized appreciation (depreciation) from Investments held as of February 28, 2026 | $(92625) | $80850 | $(15881) | $(171481) | $— | $13887 |

---

344<br>

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**Notes to Financial Statements** 

**February 28, 2026(continued)** 

3. Investment valuation (continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Total** | **Corporate** <br>**Bonds &** <br>**Notes** | **Senior** <br>**Loans** | **Common** <br>**Stocks** | **Warrants** | **PREFERRED** <br>**STOCKS** | **Short** <br>**Terms**  |
| **Destinations Global Fixed Income Opportunities Fund** | **Destinations Global Fixed Income Opportunities Fund** | **Destinations Global Fixed Income Opportunities Fund** | **Destinations Global Fixed Income Opportunities Fund** | **Destinations Global Fixed Income Opportunities Fund** | **Destinations Global Fixed Income Opportunities Fund** | **Destinations Global Fixed Income Opportunities Fund** | **Destinations Global Fixed Income Opportunities Fund** |
| Balance as of February 28, 2025 | $15634693 | $6537468 | $1280084 | $7180584 | $203532<sup>\*</sup> | $— | $433025 |
| &nbsp;&nbsp;&nbsp; Purchases | 6781843 |  | 518763 | 1 |  | 3668445  | 2594634 |
| &nbsp;&nbsp;&nbsp; (Sales/Paydowns) | (2089678) | (1814025) | (128443) | (100000) |  |  | (47210)  |
| &nbsp;&nbsp;&nbsp; Total realized gain (loss) | (3119330) | 62014 | (959708) | (103133) |  |  | (2118503)  |
| &nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (2057881) | 75985 | 644637 | (1219254) | (159918) | (3155830) | 1756499  |
| &nbsp;&nbsp;&nbsp; Accrued discounts (premiums) | 283806 | 27758 | 58905 |  |  |  | 197143  |
| &nbsp;&nbsp;&nbsp; Transfers In\*\* | 2046920 | 2046920 |  |  |  |  | —  |
| &nbsp;&nbsp;&nbsp; Transfers Out\*\*\* | (902624) |  | (902624) |  |  |  | —  |
| Balance as of February 28, 2026 | $16577749 | $6936120 | $511614 | $5758198<sup>\*</sup> | $43614<sup>\*</sup> | $512615  | $2815588  |
|  Change in unrealized appreciation (depreciation) from Investments held as of February 28, 2026 | $(4367175) | $70200 | $73816 | $(1219254) | $(159918) | $(3155830) | $23811 |

---

\* Includes securities that are fair valued at $0.

\*\* Amounts were transferred into Level 3 as the observability of price inputs has decreased during the reporting period.

\*\*\* Amounts were transferred out of Level 3 as the observability of price inputs has increased during the reporting period. 

Level 3 investments held during and at the end of the year ended February 28, 2026 in relation to net assets of the Destinations Large Cap Equity Fund, Destinations Small-Mid Cap Equity Fund, Destinations International Equity Fund, Destinations Core Fixed Income Fund, Destinations Multi Strategy Alternatives Fund and Destinations Municipal Fixed Income Fund were not significant (0.02%, 0.03%, 0.05%, 0.00%, 0.00% and 0.00% of total net assets, respectively) and accordingly, a reconciliation of Level 3 assets for the year ended February 28, 2026 is not presented.

4. Accounting for Derivative Instruments

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

&nbsp;&nbsp;&nbsp;&nbsp;(a) **Futures Contracts. Certain Funds enter into futures contracts, to the extent permitted by their investment policies and objectives, for bonafide hedging and other permissible risk management purposes including protecting against anticipated changes in the value of securities a Fund intends to purchase. Upon entering into a futures contract, a Fund is required to deposit cash or securities as initial margin. Additional securities are also segregated as collateral up to the current market value of the futures contracts. Subsequent payments, known as variation margin, are made or received by the Fund, depending on the fluctuation in the value of the underlying financial instruments. The Fund recognizes an unrealized gain or loss equal to the variation margin. When futures contracts are closed, a realized gain or loss is recognized which is equal to the difference between the proceeds from (or cost of) the closing transactions and the Fund's basis in the contracts.** 

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

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

345<br>

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**Notes to Financial Statements** 

**February 28, 2026(continued)** 

4. Accounting for Derivative Instruments (continued)

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

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

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

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

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

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

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

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

When a Fund writes a swaption, the premium received is recorded as a liability in the Statements of Assets and Liabilities and is subsequently adjusted to the current market value of the swaption. Changes in the value of the swaption are reported as unrealized gains or losses in the Statements of Operations. A gain or loss is recognized when the swaption

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**Notes to Financial Statements** 

**February 28, 2026(continued)** 

4. Accounting for Derivative Instruments (continued)

contract expires or is closed. Premiums received from writing swaptions that expire or are exercised are treated by the Fund as realized gains from investments. The difference between the premium and the amount paid on effecting a closing purchase transaction is also treated as a realized gain or, if the premium received is less than the amount paid for the closing purchase, as a realized loss.

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

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

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

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

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

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

Entering into credit default swaps involves, to varying degrees, elements of credit and market risk in excess of the related amounts recognized on the Statements of Assets and Liabilities. Such risks involve the possibility that there will be no liquid market for these agreements, that the counterparty to the agreements may default on its obligation

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**Notes to Financial Statements** 

**February 28, 2026(continued)** 

4. Accounting for Derivative Instruments (continued)

to perform or disagree as to the meaning of the contractual terms in the agreements, and that there will be unfavorable changes in net interest rates. As privately negotiated transactions, swaps may involve risk, which is the risk that the swap contracts fail to contemplate a particular outcome or that the parties disagree about the proper interpretation of a transaction term.

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;iv. **Total Return Swaps. Certain Funds enter into total return swaps to gain exposure and benefit from reference asset (single asset, or a basket of assets) without actually having to own it. Total return swaps are agreements where the total return of a reference asset is paid in exchange for periodic cash flows, either fixed or variable, and typically a floating rate such as LIBOR +/- a basis point spread. The deal is structured such that the total return (asset income plus capital appreciation/depreciation) is exchanged, in the cash flows. Periodic payments received or made by the Fund are recorded as realized gain or loss from swap contracts on the Statement of Operations.** 

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

The following is a summary of the fair valuations of the Funds' derivative instruments categorized by risk exposure at February 28, 2026:

**Destinations Large Cap Equity Fund** 

Fair Values of Derivative Instruments on the Statements of Assets and Liabilities as of February 28, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Location** | **Interest**<br>**rate risk** | **Foreign**<br>**exchange**<br>**risk** | **Credit**<br>**risk** | **Equity**<br>**risk** | **Total**  |
| **Liability derivatives**<br>|  |  |  |  |  |
| Unrealized depreciation on open futures contracts<sup>(a)</sup> | $— | $— | $— | $35704 | $35704  |
|  | $— | $— | $— | $35704 | $35704 |

---

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**[**TABLE OF CONTENTS**](#TOC)**

**Notes to Financial Statements** 

**February 28, 2026(continued)** 

4. Accounting for Derivative Instruments (continued)

Effect of Derivative Instruments on the Statements of Operations of February 28, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Location** | **Interest**<br>**rate risk** | **Foreign**<br>**exchange**<br>**risk** | **Credit**<br>**risk** | **Equity**<br>**risk** | **Total**  |
|  **Realized gain/(loss) on derivatives recognized in income<sup>(b)</sup>**<br>|  |  |  |  |  |
| Net realized gain (loss) on futures contracts | $— | $— | $— | $212419 | $212419  |
|  | $— | $— | $— | $212419 | $212419  |
|  **Change in unrealized appreciation (depreciation) on derivatives recognized in income<sup>(c)</sup>**<br>|  |  |  |  |  |
|  Net change in unrealized appreciation (depreciation) on futures contracts | $— | $— | $— | $28359 | $28359  |
|  | $— | $— | $— | $28359 | $28359 |

---

**Destinations Small-Mid Cap Equity Fund** 

Fair Values of Derivative Instruments on the Statements of Assets and Liabilities as of February 28, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Location** | **Interest**<br>**rate risk** | **Foreign**<br>**exchange**<br>**risk** | **Credit**<br>**risk** | **Equity**<br>**risk** | **Total**  |
| **Asset derivatives**<br>|  |  |  |  |  |
| Unrealized appreciation on open futures contracts<sup>(a)</sup> | $— | $— | $— | $44047 | $44047  |
|  | $— | $— | $— | $44047 | $44047 |

---

Effect of Derivative Instruments on the Statements of Operations of February 28, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Location** | **Interest**<br>**rate risk** | **Foreign**<br>**exchange**<br>**risk** | **Credit**<br>**risk** | **Equity**<br>**risk** | **Total**  |
|  **Realized gain/(loss) on derivatives recognized in income<sup>(b)</sup>**<br>|  |  |  |  |  |
| Net realized gain (loss) on futures contracts | $— | $— | $— | $93015 | $93015  |
|  | $— | $— | $— | $93015 | $93015  |
|  **Change in unrealized appreciation (depreciation) on derivatives recognized in income<sup>(c)</sup>**<br>|  |  |  |  |  |
|  Net change in unrealized appreciation (depreciation) on futures contracts | $— | $— | $— | $162054 | $162054  |
|  | $— | $— | $— | $162054 | $162054 |

---

**Destinations International Equity Fund** 

Fair Values of Derivative Instruments on the Statements of Assets and Liabilities as of February 28, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Location** | **Interest**<br>**rate risk** | **Foreign**<br>**exchange**<br>**risk** | **Credit**<br>**risk** | **Equity**<br>**risk** | **Total**  |
| **Asset derivatives**<br>|  |  |  |  |  |
| Unrealized appreciation on open futures contracts<sup>(a)</sup> | $— | $— | $— | $460059 | $460059  |
|  | $— | $— | $— | $460059 | $460059 |

---

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**Notes to Financial Statements** 

**February 28, 2026(continued)** 

4. Accounting for Derivative Instruments (continued)

Effect of Derivative Instruments on the Statements of Operations of February 28, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Location** | **Interest**<br>**rate risk** | **Foreign**<br>**exchange**<br>**risk** | **Credit**<br>**risk** | **Equity**<br>**risk** | **Total**  |
|  **Realized gain/(loss) on derivatives recognized in income<sup>(b)</sup>**<br>|  |  |  |  |  |
| Net realized gain (loss) on futures contracts | $— | $— | $— | $834825 | $834825  |
| Net realized gain (loss) on options contracts written |  |  |  | 62865 | 62865  |
| Net realized gain (loss) on swaps contracts |  |  |  | 174103 | 174103  |
|  | $— | $— | $— | $1071793 | $1071793  |
|  **Change in unrealized appreciation (depreciation) on derivatives recognized in income<sup>(c)</sup>**<br>|  |  |  |  |  |
|  Net change in unrealized appreciation (depreciation) on futures contracts | $— | $— | $— | $414261 | $414261  |
|  Net change in unrealized appreciation (depreciation) on options contracts written |  |  |  | (12567) | (12567)  |
|  Net change in unrealized appreciation (depreciation) on swaps contracts |  |  |  | 3897575 | 3897575  |
|  | $— | $— | $— | $4299269 | $4299269 |

---

**Destinations Equity Income Fund** 

Fair Values of Derivative Instruments on the Statements of Assets and Liabilities as of February 28, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Location** | **Interest**<br>**rate risk** | **Foreign**<br>**exchange**<br>**risk** | **Credit**<br>**risk** | **Equity**<br>**risk** | **Total**  |
| **Liability derivatives**<br>|  |  |  |  |  |
| Options contracts written outstanding<sup>(d)</sup> | $— | $— | $— | $43469 | $43469  |
|  | $— | $— | $— | $43469 | $43469 |

---

Effect of Derivative Instruments on the Statements of Operations of February 28, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Location** | **Interest**<br>**rate risk** | **Foreign**<br>**exchange**<br>**risk** | **Credit**<br>**risk** | **Equity**<br>**risk** | **Total**  |
|  **Realized gain/(loss) on derivatives recognized in income<sup>(b)</sup>**<br>|  |  |  |  |  |
| Net realized gain (loss) on options contracts written | $— | $— | $— | $405883 | $405883  |
|  | $— | $— | $— | $405883 | $405883  |
|  **Change in unrealized appreciation (depreciation) on derivatives recognized in income<sup>(c)</sup>**<br>|  |  |  |  |  |
|  Net change in unrealized appreciation (depreciation) on options contracts written | $— | $— | $— | $(22509) | $(22509)  |
|  | $— | $— | $— | $(22509) | $(22509) |

---

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**Notes to Financial Statements** 

**February 28, 2026(continued)** 

4. Accounting for Derivative Instruments (continued)

**Destinations Core Fixed Income Fund** 

Fair Values of Derivative Instruments on the Statements of Assets and Liabilities as of February 28, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Location** | **Interest**<br>**rate risk** | **Foreign**<br>**exchange**<br>**risk** | **Credit**<br>**risk** | **Equity**<br>**risk** | **Total**  |
| **Asset derivatives**<br>|  |  |  |  |  |
| Unrealized appreciation on open futures contracts<sup>(a)</sup> | $79954 | $— | $— | $— | $79954  |
| Unrealized appreciation on swaps contracts<sup>(e)</sup> | 480673 |  |  |  | 480673  |
|  | $560627 | $— | $— | $— | $560627  |
| **Liability derivatives**<br>|  |  |  |  |  |
| Unrealized depreciation on open futures contracts<sup>(a)</sup> | $76188 | $— | $— | $— | $76188  |
| Unrealized depreciation on swaps contracts<sup>(f)</sup> | 322431 |  | 14708 |  | 337139  |
|  | $398619 | $— | $14708 | $— | $413327 |

---

Effect of Derivative Instruments on the Statements of Operations of February 28, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Location** | **Interest**<br>**rate risk** | **Foreign**<br>**exchange**<br>**risk** | **Credit**<br>**risk** | **Equity**<br>**risk** | **Total**  |
|  **Realized gain/(loss) on derivatives recognized in income<sup>(b)</sup>**<br>|  |  |  |  |  |
| Net realized gain (loss) on futures contracts | $(974896) | $— | $— | $— | $(974896)  |
| Net realized gain (loss) on swaps contracts | 431833 |  | (1424) |  | 430409  |
|  | $(543063) | $— | $(1424) | $— | $(544487)  |
|  **Change in unrealized appreciation (depreciation) on derivatives recognized in income<sup>(c)</sup>**<br>|  |  |  |  |  |
|  Net change in unrealized appreciation (depreciation) on futures contracts | $141650 | $— | $— | $— | $141650  |
|  Net change in unrealized appreciation (depreciation) on swaps contracts | (354443) |  | (14708) |  | (369151)  |
|  | $(212793) | $— | $(14708) | $— | $(227501) |

---

**Destinations Low Duration Fixed Income Fund** 

Fair Values of Derivative Instruments on the Statements of Assets and Liabilities as of February 28, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Location** | **Interest**<br>**rate risk** | **Foreign**<br>**exchange**<br>**risk** | **Credit**<br>**risk** | **Equity**<br>**risk** | **Total**  |
| **Liability derivatives**<br>|  |  |  |  |  |
|  Unrealized depreciation on forward currency contracts<sup>(g)</sup> | $— | $189360 | $— | $— | $189360  |
|  | $— | $189360 | $— | $— | $189360 |

---

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**[**TABLE OF CONTENTS**](#TOC)**

**Notes to Financial Statements** 

**February 28, 2026(continued)** 

4. Accounting for Derivative Instruments (continued)

Effect of Derivative Instruments on the Statements of Operations of February 28, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Location** | **Interest**<br>**rate risk** | **Foreign**<br>**exchange**<br>**risk** | **Credit**<br>**risk** | **Equity**<br>**risk** | **Total**  |
|  **Realized gain/(loss) on derivatives recognized in income<sup>(b)</sup>**<br>|  |  |  |  |  |
|  Net realized gain (loss) on forward foreign currency contracts | $— | $(1320941) | $— | $— | $(1320941)  |
|  | $— | $(1320941) | $— | $— | $(1320941)  |
|  **Change in unrealized appreciation (depreciation) on derivatives recognized in income<sup>(c)</sup>**<br>|  |  |  |  |  |
|  Net change in unrealized appreciation (depreciation) on forward foreign currency contracts | $— | $(108610) | $— | $— | $(108610)  |
|  | $— | $(108610) | $— | $— | $(108610) |

---

**Destinations Global Fixed Income Opportunities Fund** 

Fair Values of Derivative Instruments on the Statements of Assets and Liabilities as of February 28, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Location** | **Interest**<br>**rate risk** | **Foreign**<br>**exchange**<br>**risk** | **Credit**<br>**risk** | **Equity**<br>**risk** | **Total**  |
| **Asset derivatives**<br>|  |  |  |  |  |
|  Unrealized appreciation on forward currency contracts<sup>(h)</sup> | $— | $1164207 | $— | $— | $1164207  |
|  | $— | $1164207 | $— | $— | $1164207  |
| **Liability derivatives**<br>|  |  |  |  |  |
| Options contracts written outstanding<sup>(d)</sup> | $— | $— | $— | $191510 | $191510  |
| &nbsp;&nbsp;&nbsp; Unrealized depreciation on forward currency <br>contracts<sup>(g)</sup> |  | 455822 |  |  | 455822  |
|  | $— | $455822 | $— | $191510 | $647332 |

---

Effect of Derivative Instruments on the Statements of Operations of February 28, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Location** | **Interest**<br>**rate risk** | **Foreign**<br>**exchange**<br>**risk** | **Credit**<br>**risk** | **Equity**<br>**risk** | **Total**  |
|  **Realized gain/(loss) on derivatives recognized in income<sup>(b)</sup>**<br>|  |  |  |  |  |
| Net realized gain (loss) on options contracts written | $— | $— | $— | $234984 | $234984  |
| &nbsp;&nbsp;&nbsp; Net realized gain (loss) on forward foreign currency <br>contracts |  | (14037948) |  |  | (14037948)  |
|  | $— | $(14037948) | $— | $234984 | $(13802964)  |
| &nbsp;&nbsp;&nbsp; **Change in unrealized appreciation (depreciation)** <br>**on derivatives recognized in income<sup>(c)</sup>**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) <br>on options contracts written | $— | $— | $— | $173920 | $173920  |
| &nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) <br>on forward foreign currency contracts |  | 1560532 |  |  | 1560532  |
|  | $— | $1560532 | $— | $173920 | $1734452 |

---

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**[**TABLE OF CONTENTS**](#TOC)**

**Notes to Financial Statements** 

**February 28, 2026(continued)** 

4. Accounting for Derivative Instruments (continued)

**Destinations Multi Strategy Alternatives Fund** 

Fair Values of Derivative Instruments on the Statements of Assets and Liabilities as of February 28, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Location** | **Interest**<br>**rate risk** | **Foreign**<br>**exchange**<br>**risk** | **Credit**<br>**risk** | **Equity**<br>**risk** | **Total**  |
| **Asset derivatives**<br>|  |  |  |  |  |
| Unrealized appreciation on swaps contracts<sup>(e)</sup> | $— | $— | $120432 | $244808 | $365240  |
|  | $— | $— | $120432 | $244808 | $365240  |
| **Liability derivatives**<br>|  |  |  |  |  |
| Unrealized depreciation on swaps contracts<sup>(f)</sup> | $— | $— | $640204 | $63052 | $703256  |
|  | $— | $— | $640204 | $63052 | $703256 |

---

Effect of Derivative Instruments on the Statements of Operations of February 28, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Location** | **Interest**<br>**rate risk** | **Foreign**<br>**exchange**<br>**risk** | **Credit**<br>**risk** | **Equity**<br>**risk** | **Total**  |
|  **Realized gain/(loss) on derivatives recognized in income<sup>(a)</sup>**<br>|  |  |  |  |  |
| Net realized gain (loss) on swaps contracts | $— | $— | $(1086436) | $4464807 | $3378371  |
|  | $— | $— | $(1086436) | $4464807 | $3378371  |
|  **Change in unrealized appreciation (depreciation) on derivatives recognized in income<sup>(b)</sup>**<br>|  |  |  |  |  |
|  Net change in unrealized appreciation (depreciation) on swaps contracts | $— | $— | $(5586869) | $30764 | $(5556105)  |
|  | $— | $— | $(5586869) | $30764 | $(5556105) |

---

**Destinations Shelter Fund** 

Fair Values of Derivative Instruments on the Statements of Assets and Liabilities as of February 28, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Location** | **Interest**<br>**rate risk** | **Foreign**<br>**exchange**<br>**risk** | **Credit**<br>**risk** | **Equity**<br>**risk** | **Total**  |
| **Asset derivatives**<br>|  |  |  |  |  |
| Purchased options<sup>(i)</sup> | $— | $— | $— | $1131545 | $1131545  |
|  | $— | $— | $— | $1131545 | $1131545  |
| **Liability derivatives**<br>|  |  |  |  |  |
| Options contracts written outstanding<sup>(d)</sup> | $— | $— | $— | $530165 | $530165  |
|  | $— | $— | $— | $530165 | $530165 |

---

Effect of Derivative Instruments on the Statements of Operations of February 28, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Location** | **Interest**<br>**rate risk** | **Foreign**<br>**exchange**<br>**risk** | **Credit**<br>**risk** | **Equity**<br>**risk** | **Total**  |
|  **Realized gain/(loss) on derivatives recognized in income<sup>(b)</sup>**<br>|  |  |  |  |  |
| Net realized gain (loss) on purchased options | $— | $— | $— | $(4729431) | $(4729431)  |
| Net realized gain (loss) on options contracts written |  |  |  | (547165) | (547165)  |
|  | $— | $— | $— | $(5276596) | $(5276596)  |

---

353<br>

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**Notes to Financial Statements** 

**February 28, 2026(continued)** 

4. Accounting for Derivative Instruments (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Location** | **Interest**<br>**rate risk** | **Foreign**<br>**exchange**<br>**risk** | **Credit**<br>**risk** | **Equity**<br>**risk** | **Total**  |
|  **Change in unrealized appreciation (depreciation) on derivatives recognized in income<sup>(c)</sup>**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation)<br>on purchased options | $— | $— | $— | $56282 | $56282  |
|  Net change in unrealized appreciation (depreciation) on options contracts written |  |  |  | 42693 | 42693  |
|  | $— | $— | $— | $98975 | $98975 |

---

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;(d) Statements of Assets and Liabilities location:
 Options contracts written, at value.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Statements of Assets and Liabilities location:
 Unrealized appreciation on swap contracts.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Statements of Assets and Liabilities location:
 Unrealized depreciation on swap contracts.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Statements of Assets and Liabilities location:
 Unrealized depreciation on open forward foreign currency contracts.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Statements of Assets and Liabilities location:
 Unrealized appreciation on open forward foreign currency contracts.

&nbsp;&nbsp;&nbsp;&nbsp;(i) Statements of Assets and Liabilities location:
 Investments, at value.

The average notional amounts of futures contracts, swaps contracts, forward foreign currency contracts, and the average market value of purchased options and options contracts written during the year ended February 28, 2026 were as follows:

**Destinations Large Cap Equity Fund** 

---

| | |
|:---|:---|
|  | **Average notional amounts**  |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $2606433 |

---

**Destinations Small-Mid Cap Equity Fund** 

---

| | |
|:---|:---|
|  | **Average notional amounts**  |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1510533 |

---

**Destinations International Equity Fund** 

---

| | |
|:---|:---|
|  | **Average notional amounts**  |
| Options contracts written | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $9581<sup>(a)</sup>  |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $3988555  |
| Swaps contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $9475097<sup>(b)</sup> |

---

**Destinations Equity Income Fund** 

---

| | |
|:---|:---|
|  | **Average notional amounts**  |
| Purchased options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $84000<sup>(c)</sup>  |
| Options contracts written | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $82267 |

---

**Destinations Core Fixed Income Fund** 

---

| | |
|:---|:---|
|  | **Average notional amounts**  |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $46847133  |
| Swaps contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $14154615 |

---

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**Notes to Financial Statements** 

**February 28, 2026(continued)** 

4. Accounting for Derivative Instruments (continued)

**Destinations Low Duration Fixed Income Fund** 

---

| | |
|:---|:---|
|  | **Average notional amounts**  |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $13224117 |

---

**Destinations Global Fixed Income Opportunities Fund** 

---

| | |
|:---|:---|
|  | **Average notional amounts**  |
| Purchased options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $4516<sup>(c)</sup>  |
| Options contracts written | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $117610  |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $120508280 |

---

**Destinations Multi Strategy Alternatives Fund** 

---

| | |
|:---|:---|
|  | **Average notional amounts**  |
| Swaps contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $209006738 |

---

**Destinations Shelter Fund** 

---

| | |
|:---|:---|
|  | **Average notional amounts**  |
| Purchased options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $783783  |
| Options contracts written | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $848234 |

---

**Destinations Real Assets Fund** 

Forward foreign currency contracts<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $349895<sup>(c)</sup><br>

&nbsp;&nbsp;&nbsp;&nbsp;(a) Positions were open for seven months during the
 year.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Positions were open for nine months during the
 year.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Positions were open for one month during the year.

5. Accounting for Other Instruments

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

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

&nbsp;&nbsp;&nbsp;&nbsp;(c) **Lending of Portfolio Securities. The Trust has an agreement with its custodian, whereby the custodian, as agent, may lend securities owned by the Funds to brokers, dealers and other financial organizations that have been approved as borrowers by the Funds. The custodian enters into agreements with the borrowers. Loans of securities by a Fund are collateralized by cash, U.S. government securities or irrevocable performance letters of credit issued by banks approved by the Funds. Cash collateral received by the Funds as a result of securities lending activities is invested in an unaffiliated registered money market fund, and is recorded as Payable for collateral received from securities on loan within the Statements of Assets and Liabilities. Securities lending income represents the income earned on investing cash collateral plus any premium payments that may be received on the loan of certain types of securities, less fees and expenses** 

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**Notes to Financial Statements** 

**February 28, 2026(continued)** 

5. Accounting for Other Instruments (continued)

associated with the loan. Each Fund maintains the risk of any market loss on its securities on loan as well as the potential loss on investments purchased with cash collateral received from its securities lending. The custodian has the right under its agreement with the borrowers to recover any loaned securities from the borrower on demand. Additionally, the Funds are exposed to risks that a borrower may not provide additional collateral when required or return loaned securities when due. If the borrower fails to return the securities, the custodian will use the collateral to purchase replacement securities. The custodian is responsible for any shortfall in collateral value under certain circumstances. See Note 5(o).

The following table presents securities on loan that are subject to enforceable netting arrangements as of February 28, 2026.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Gross Amounts Not Offset in the Statements of Assets and Liabilities**  | **Gross Amounts Not Offset in the Statements of Assets and Liabilities**  | **Gross Amounts Not Offset in the Statements of Assets and Liabilities**  | **Gross Amounts Not Offset in the Statements of Assets and Liabilities**  | **Gross Amounts Not Offset in the Statements of Assets and Liabilities**  |
|  | **Gross Asset**<br>**Amount**<br>**Presented in**<br>**Statements of** <br>**Assets and**<br>**Liabilities<sup>(a)</sup>** | **Financial**<br>**Instrument** | **Collateral**<br>**Received<sup>(b)(c)</sup>** | **Net**<br>**Amount**<br>**(Not Less**<br>**than $0)**  |
| Destinations Small-Mid Cap Equity Fund | $5003965 | $— | $(5003965) | $—  |
| Destinations International Equity Fund | 15224715 |  | (15224715) | —  |
| Destinations Equity Income Fund | 5360 |  | (5360) | —  |
| Destinations Core Fixed Income Fund | 596054 |  | (596054) | —  |
| Destinations Low Duration Fixed Income Fund | 3348499 |  | (3348499) | —  |
| Destinations Global Fixed Income Opportunities Fund | 12004496 |  | (12004496) | —  |
| Destinations Municipal Fixed Income Fund | 12935835 |  | (12935835) | —  |
| Destinations Real Assets Fund | 477918 |  | (477874) | 44<sup>\*</sup> |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Represents market value of securities on loan
 at period end.

&nbsp;&nbsp;&nbsp;&nbsp;(b) The Funds received cash collateral of $5,692,844,
 $15,763,800, $5,423, $618,657, $4,109,478, $13,699,494, $13,214,025 and $477,874, respectively, which was subsequently invested in Federated
 Government Obligations Fund as reported in the Schedules of Investments.

&nbsp;&nbsp;&nbsp;&nbsp;(c) The actual collateral received could be greater
 than the amount shown here due to overcollateralization.

\* The collateral will be adjusted the next business day to maintain the required collateral amount. 

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

356<br>

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**Notes to Financial Statements** 

**February 28, 2026(continued)** 

5. Accounting for Other Instruments (continued)

The table below represents the disaggregation at February 28, 2026 of the gross amount of recognized liabilities for securities lending transactions. As the securities loaned are subject to termination by the Funds or the borrower at any time, the remaining contractual maturities of the transactions presented below are considered to be overnight and continuous.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Remaining Contractual Maturity of the Agreements** <br>**As of February 28, 2026**  | **Remaining Contractual Maturity of the Agreements** <br>**As of February 28, 2026**  | **Remaining Contractual Maturity of the Agreements** <br>**As of February 28, 2026**  | **Remaining Contractual Maturity of the Agreements** <br>**As of February 28, 2026**  | **Remaining Contractual Maturity of the Agreements** <br>**As of February 28, 2026**  |
|  | **Overnight**<br>**and**<br>**Continuous** | **< 30 days** | **Between**<br>**30 & 90**<br>**days** | **> 90 days** | **Total**  |
|  **Destinations Small-Mid Cap Equity Fund Securities Lending Transactions**<br>|  |  |  |  |  |
| Common Stocks | $5692844 | $— | $— | $— | $5692844  |
| **Total Borrowings** | $5692844 | $— | $— | $— | $5692844  |
|  Gross amount of recognized liabilities for securities lending transactions |  |  |  |  | $5692844  |
|  **Destinations International Equity Fund Securities Lending Transactions**<br>|  |  |  |  |  |
| Common Stocks | $15763800 | $— | $— | $— | $15763800  |
| **Total Borrowings** | $15763800 | $— | $— | $— | $15763800  |
|  Gross amount of recognized liabilities for securities lending transactions |  |  |  |  | $15763800  |
|  **Destinations Equity Income Fund Securities Lending Transactions**<br>|  |  |  |  |  |
| Common Stocks | $5423 | $— | $— | $— | $5423  |
| **Total Borrowings** | $5423 | $— | $— | $— | $5423  |
|  Gross amount of recognized liabilities for securities lending transactions |  |  |  |  | $5423  |
|  **Destinations Core Fixed Income Fund Securities Lending Transactions**<br>|  |  |  |  |  |
| Corporate Bonds | $618657 | $— | $— | $— | $618657  |
| **Total Borrowings** | $618657 | $— | $— | $— | $618657  |
|  Gross amount of recognized liabilities for securities lending transactions |  |  |  |  | $618657  |
|  **Destinations Low Duration Fixed Income Fund Securities Lending Transactions**<br>|  |  |  |  |  |
| Corporate Bonds | $4109478 | $— | $— | $— | $4109478  |
| **Total Borrowings** | $4109478 | $— | $— | $— | $4109478  |
|  Gross amount of recognized liabilities for securities lending transactions |  |  |  |  | $4109478  |
|  **Destinations Global Fixed Income Opportunities Fund Securities Lending Transactions**<br>|  |  |  |  |  |
| Corporate Bonds | $13699494 | $— | $— | $— | $13699494  |
| **Total Borrowings** | $13699494 | $— | $— | $— | $13699494  |
|  Gross amount of recognized liabilities for securities lending transactions |  |  |  |  | $13699494  |

---

357<br>

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**Notes to Financial Statements** 

**February 28, 2026(continued)** 

5. Accounting for Other Instruments (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Remaining Contractual Maturity of the Agreements** <br>**As of February 28, 2026**  | **Remaining Contractual Maturity of the Agreements** <br>**As of February 28, 2026**  | **Remaining Contractual Maturity of the Agreements** <br>**As of February 28, 2026**  | **Remaining Contractual Maturity of the Agreements** <br>**As of February 28, 2026**  | **Remaining Contractual Maturity of the Agreements** <br>**As of February 28, 2026**  |
|  | **Overnight**<br>**and**<br>**Continuous** | **< 30 days** | **Between**<br>**30 & 90**<br>**days** | **> 90 days** | **Total**  |
|  **Destinations Municipal Fixed Income Fund Securities Lending Transactions**<br>|  |  |  |  |  |
| Common Stocks | $13214025 | $— | $— | $— | $13214025  |
| **Total Borrowings** | $13214025 | $— | $— | $— | $13214025  |
|  Gross amount of recognized liabilities for securities lending transactions |  |  |  |  | $13214025  |
| &nbsp;&nbsp;&nbsp; **Destinations Real Assets Fund**<br>**Securities Lending Transactions**<br>|  |  |  |  |  |
| Common Stocks | $477874 | $— | $— | $— | $477874  |
| **Total Borrowings** | $477874 | $— | $— | $— | $477874  |
|  Gross amount of recognized liabilities for securities lending transactions |  |  |  |  | $477874 |

---

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

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

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

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

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

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**Notes to Financial Statements** 

**February 28, 2026(continued)** 

5. Accounting for Other Instruments (continued)

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

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

&nbsp;&nbsp;&nbsp;&nbsp;(g) **Security Transactions and Investment Income. Security transactions are accounted for on a trade date basis. Interest income, adjusted for amortization of premium and accretion of discount, is recorded on an accrual basis. Dividend income is recorded on the ex-dividend date. Foreign dividend income is recorded on the ex-dividend date or as soon as practical after a Fund determines the existence of a dividend declaration after exercising reasonable due diligence. Non-cash dividends received in the form of stock, if any, are recognized on the ex-dividend date and recorded as income from non-cash dividends at fair value. Interest and dividend income payable by delivery of additional shares is reclassified as PIK (payment-in-kind) income upon receipt, if any, and is included in interest and income from non-cash interest or dividends and income from non-cash dividends, respectively. Withholding taxes on foreign dividends, if applicable, are paid (a portion of which may be reclaimable) or provided for in accordance with the applicable country's tax rules and rates and are disclosed in the Statement of Operations. Withholding tax reclaims are filed in certain countries to recover a portion of the amounts previously withheld. The Fund records a reclaim receivable based on a number of factors, including a jurisdiction's legal obligation to pay reclaims as well as payment history and market convention. The cost of investments sold is determined by use of the specific identification method. To the extent any issuer defaults on an expected interest payment, the Trust's policy is to generally halt any additional "interest income accruals and accretion" and consider the Fund's ability to realize interest accrued up to the date of default.** 

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

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

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**Notes to Financial Statements** 

**February 28, 2026(continued)** 

5. Accounting for Other Instruments (continued)

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

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;(k) **All distributions will be paid in cash. Generally, distributions are taxable events for shareholders whether the distributions are received in cash or reinvested.** 

&nbsp;&nbsp;&nbsp;&nbsp;(l) **Taxes. The Trust's policy is to comply with the requirements of the Internal Revenue Code, as amended, which are applicable to regulated investment companies, and to distribute all of its taxable income to its shareholders.** 

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

The Trust has reviewed the tax positions for the open tax years as of February 28, 2026 and has determined that no provision for income tax and/or uncertain tax positions is required in the Trust's financial statements.

The Trust's federal tax returns for the prior three fiscal years remain open subject to examinations by the Internal Revenue Service.

During the reporting period, the Funds adopted the Financial Accounting Standards Board (FASB) Accounting Standards Update 2023-09-Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The adoption of this new standard impacted financial statement disclosures only and did not affect the Funds' financial positions or results of their operations. The Funds did not pay any federal or state and local income taxes. There were no significant amounts of income taxes paid in foreign jurisdictions by the Funds during the year ended February 28, 2026.

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

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

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**Notes to Financial Statements** 

**February 28, 2026(continued)** 

5. Accounting for Other Instruments (continued)

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

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

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

The following table summarizes the Funds' unfunded loans positions as of February 28, 2026.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Principal** | **Unfunded**<br>**Bank Loan**<br>**Interest**<br>(Cost) | **Value of**<br>**Underlying**<br>**Bank Loan**<br>**Interest**<br>(Value) | **Unrealized**<br>**Appreciation** <br>(Depreciation)  |
| **Destinations Core Fixed Income Fund**<br>|  |  |  |  |
| Kaman Corp. | &nbsp;&nbsp;&nbsp; $3126 | &nbsp;&nbsp;&nbsp; $3130 | &nbsp;&nbsp;&nbsp; $3121 | &nbsp;&nbsp;&nbsp;&nbsp; $(9)  |
| Pinnacle Buyer LLC | &nbsp;&nbsp;&nbsp; 2419 | &nbsp;&nbsp;&nbsp; 2419 | &nbsp;&nbsp;&nbsp; 2420 | &nbsp;&nbsp;&nbsp;&nbsp; 1  |
| Pye-Barker Fire & Safety LLC | &nbsp;&nbsp;&nbsp; 1300 | &nbsp;&nbsp;&nbsp; 1300 | &nbsp;&nbsp;&nbsp; 1300 | &nbsp;&nbsp;&nbsp;&nbsp; 0\*  |
| Savor Acquisition Inc. | &nbsp;&nbsp;&nbsp; 6034 | &nbsp;&nbsp;&nbsp; 6055 | &nbsp;&nbsp;&nbsp; 6037 | &nbsp;&nbsp;&nbsp;&nbsp; (18)  |
|  | &nbsp;&nbsp;&nbsp; $12879 | &nbsp;&nbsp;&nbsp; $12904 | &nbsp;&nbsp;&nbsp; $12878 | &nbsp;&nbsp;&nbsp;&nbsp; $(26) |

---

\* Amount is less than $0.5.

&nbsp;&nbsp;&nbsp;&nbsp;(q) **Segment Information. An operating segment is defined in Topic 280 as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity's chief operating decision maker ("CODM") to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available. The President and Chief Operating Officer, Chief Compliance Officer and Assistant Secretary of the Trust, collectively act as the Fund Administration Team, which is deemed to be the CODM of the Funds. Each of the Funds is considered to be a single operating segment and is not part of a consolidated reporting entity. The objective and strategy of each Fund is used by the Adviser to make investment decisions, and the results of the operations is the information used for the day-to-day management of the Funds. The operating results are consistent with, but not limited to, the information presented in the Funds' Statements of Assets and Liabilities, Statements of Operations, Statements of Changes in Net Assets and Financial Highlights.** 

&nbsp;&nbsp;&nbsp;&nbsp;(r) **Disclosure about Offsetting Assets and Liabilities. In order to better define contractual rights under derivative contracts and to secure rights that will help the Funds mitigate their counterparty risk, a sub-adviser may, on behalf of** 

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5. Accounting for Other Instruments (continued)

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

Cash collateral that has been received or pledged to cover obligations under derivative contracts, if any, will be reported separately in the Statements of Assets and Liabilities. Generally the amount of collateral due from or to a counterparty is subject to a minimum transfer threshold amount before a transfer is required, which may vary by counterparty. Collateral pledged for the benefit of a Fund and/or counterparty is held in segregated accounts by the Fund's custodian and cannot be sold, re-pledged, assigned or otherwise used while pledged. The portion of such collateral representing cash, if any, is reflected as deposits with counterparties and, in the case of cash pledged by a counterparty for the benefit of a Fund, a corresponding liability in the Statements of Assets and Liabilities. Securities pledged by a Fund as collateral, if any, are identified as such in the Schedule of Investments. The carrying amount of such deposits due to brokers at February 28, 2026 approximated their fair value. If measured at fair value, such deposits would have been considered as Level 2 in the fair value hierarchy (see Note 3).

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

The following table presents the Funds' gross and net amounts of assets and liabilities, by derivative type, available for offset under a master netting agreement, or similar agreement as of February 28, 2026.

---

| | | |
|:---|:---|:---|
| | **Assets** | **Liabilities**  |
| <br>**Derivative Instruments<sup>(a)</sup>** | **Gross Amounts of**<br>**Recognized Assets**<br>**Presented in the**<br>**Statements of**<br>**Assets and Liabilities** | **Gross Amounts of**<br>**Recognized Liabilities**<br>**Presented in the**<br>**Statements of**<br>**Assets and Liabilities**  |
| **Destinations Low Duration Fixed Income Fund**<br>|  |  |
| &nbsp;&nbsp;&nbsp; Forward foreign currency contracts  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $189360  |
|  **Total Derivative Instruments, subject to master netting arrangement or similar arrangement**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $189360  |
| **Destinations Global Fixed Income Opportunities Fund**<br>|  |  |
| &nbsp;&nbsp;&nbsp; Forward foreign currency contracts  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1164207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $455822  |
|  **Total Derivative Instruments, subject to master netting arrangement or similar arrangement**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1164207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $455822  |
| **Destinations Multi Strategy Alternatives Fund**<br>|  |  |
| &nbsp;&nbsp;&nbsp; Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $365240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $703256  |
|  **Total Derivative Instruments, subject to master netting arrangement or similar arrangement**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $365240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $703256 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Excludes exchange-traded derivatives.

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**Notes to Financial Statements** 

**February 28, 2026(continued)** 

5. Accounting for Other Instruments (continued)

The following table presents the Funds' derivative assets and liabilities by counterparty net of amounts available for offset under master netting or similar agreements, and net of related collateral received or pledged as of February 28, 2026.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Counterparty** | **Gross Amounts** <br>**of Recognized Liabilities**<br>**Presented in the**<br>**Statements of**<br>**Assets and Liabilities** | **Financial**<br>**Instruments**<br>**Available for**<br>**Offset<sup>(a)</sup>** | **Other Cash**<br>**Collateral<sup>(b)</sup>** | **Net**<br>**Amount<sup>(c)</sup>**  |
|  **Destinations Low Duration Fixed Income Fund**<br>|  |  |  |  |
| **Over-the-counter**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Brown Brothers Harriman & Co. | &nbsp;&nbsp;&nbsp; $189360 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $189360  |
|  **Total Over-the-counter derivative instruments** | &nbsp;&nbsp;&nbsp; **$189360** | &nbsp;&nbsp;&nbsp; **$—** | &nbsp;&nbsp;&nbsp; **$—** | &nbsp;&nbsp;&nbsp;&nbsp; **$189360** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Counterparty** | **Gross Amounts** <br>**of Recognized Assets**<br>**Presented in the**<br>**Statements of**<br>**Assets and Liabilities** | **Financial**<br>**Instruments**<br>**Available for**<br>**Offset<sup>(d)</sup>** | **Other Cash**<br>**Collateral<sup>(b)</sup>** | **Net**<br>**Amount<sup>(e)</sup>**  |
|  **Destinations Global Fixed Income Opportunities Fund**<br>|  |  |  |  |
| **Over-the-counter**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Brown Brothers Harriman & Co. | &nbsp;&nbsp;&nbsp; $1164207 | &nbsp;&nbsp;&nbsp; $(455822) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $708385  |
|  **Total Over-the-counter derivative instruments** | &nbsp;&nbsp;&nbsp; **$1164207** | &nbsp;&nbsp;&nbsp; **$(455822)** | &nbsp;&nbsp;&nbsp; **$—** | &nbsp;&nbsp;&nbsp;&nbsp; **$708385** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Counterparty** | **Gross Amounts** <br>**of Recognized Liabilities**<br>**Presented in the**<br>**Statements of**<br>**Assets and Liabilities** | **Financial**<br>**Instruments**<br>**Available for**<br>**Offset<sup>(a)</sup>** | **Other Cash**<br>**Collateral<sup>(b)</sup>** | **Net**<br>**Amount<sup>(c)</sup>**  |
|  **Destinations Global Fixed Income Opportunities Fund**<br>|  |  |  |  |
| **Over-the-counter**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Brown Brothers Harriman & Co.  | &nbsp;&nbsp;&nbsp; $455822 | &nbsp;&nbsp;&nbsp; $(455822) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $—  |
|  **Total Over-the-counter derivative instruments** | &nbsp;&nbsp;&nbsp; **$455822** | &nbsp;&nbsp;&nbsp; **$(455822)** | &nbsp;&nbsp;&nbsp; **$—** | &nbsp;&nbsp;&nbsp;&nbsp; **$—** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Counterparty** | **Gross Amounts** <br>**of Recognized Assets**<br>**Presented in the**<br>**Statements of**<br>**Assets and Liabilities** | **Financial**<br>**Instruments**<br>**Available for**<br>**Offset<sup>(d)</sup>** | **Other Cash**<br>**Collateral<sup>(b)</sup>** | **Net**<br>**Amount<sup>(e)</sup>**  |
| **Destinations Multi Strategy Alternatives Fund**<br>|  |  |  |  |
| **Over-the-counter**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Goldman Sachs & Co. | &nbsp;&nbsp;&nbsp; $8284 | &nbsp;&nbsp;&nbsp; $(8284) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $—  |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Capital Services LLC  | &nbsp;&nbsp;&nbsp; $356956 | &nbsp;&nbsp;&nbsp; $(70363) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $286593  |
|  **Total Over-the-counter derivative instruments** | &nbsp;&nbsp;&nbsp; **$365240** | &nbsp;&nbsp;&nbsp; **$(78647)** | &nbsp;&nbsp;&nbsp; **$—** | &nbsp;&nbsp;&nbsp;&nbsp; **$286593** |

---

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**Notes to Financial Statements** 

**February 28, 2026(continued)** 

5. Accounting for Other Instruments (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Counterparty** | **Gross Amounts** <br>**of Recognized Liabilities**<br>**Presented in the**<br>**Statements of**<br>**Assets and Liabilities** | **Financial**<br>**Instruments**<br>**Available for**<br>**Offset<sup>(a)</sup>** | **Other Cash**<br>**Collateral<sup>(b)</sup>** | **Net**<br>**Amount<sup>(c)</sup>**  |
| **Destinations Multi Strategy Alternatives Fund**<br>|  |  |  |  |
| **Over-the-counter**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Goldman Sachs & Co. | &nbsp;&nbsp;&nbsp; $632893 | &nbsp;&nbsp;&nbsp; $(8284) | &nbsp;&nbsp;&nbsp; $(624609) | &nbsp;&nbsp;&nbsp; $—  |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Capital Services LLC  | &nbsp;&nbsp;&nbsp; $70363 | &nbsp;&nbsp;&nbsp; $(70363) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $—  |
|  **Total Over-the-counter derivative instruments** | &nbsp;&nbsp;&nbsp; **$703256** | &nbsp;&nbsp;&nbsp; **$(78647)** | &nbsp;&nbsp;&nbsp; **$(624609)** | &nbsp;&nbsp;&nbsp; **$—** |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;(b) In some instances, the actual collateral received
 and/or pledged may be more than the amount shown here due to overcollateralization.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Net amount represents the net amount payable to
 the counterparty in the event of default.

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

&nbsp;&nbsp;&nbsp;&nbsp;(e) Net amount represents the net amount receivable
 from the counterparty in the event of default.

6. Significant Risks and Uncertainties

&nbsp;&nbsp;&nbsp;&nbsp;(a) **Active Management Risk. Due to the active management investment strategies used by the Fund's Sub-advisers, the Fund could underperform its benchmark index and/or other Funds with similar investment objectives and/or strategies. The Sub-advisers' judgments about the attractiveness, value, or potential appreciation of the Fund's investments may prove to be incorrect.** 

&nbsp;&nbsp;&nbsp;&nbsp;(b) **Asia Region Risk. Many Asian economies have at various times been negatively affected by inflation, currency devaluations, an over-reliance on international trade and exports, political and social instability, and less developed financial systems and securities trading markets. Trade restrictions, unexpected decreases in exports, changes in government policies, expropriation and/or nationalization of assets, confiscatory taxation, or natural disasters could have a significant impact on companies doing business in Asia. The Asian region may be significantly affected by political unrest, military conflict, economic sanctions, and less demand for Asian products and services.** 

&nbsp;&nbsp;&nbsp;&nbsp;(c) **Asset-Backed Securities Risk. The risk that borrowers may default on the obligations that underlie the asset-backed security and that, during periods of falling interest rates, asset-backed securities may be called or prepaid, which may result in the Fund having to reinvest proceeds in other investments at a lower interest rate, and the risk that the impairment of the value of the collateral underlying a security in which the Fund invests (due, for example, to non-payment of loans) will result in a reduction in the value of the security.** 

&nbsp;&nbsp;&nbsp;&nbsp;(d) **Bank Loans Risk. The market for corporate loans may be subject to irregular trading activity and wide bid/ask spreads. In addition, transactions in corporate loans may settle on a delayed basis. As a result, the proceeds from the sale of corporate loans may not be readily available to make additional investments or to meet the Fund's redemption obligations. To the extent the extended settlement process gives rise to short-term liquidity needs, the Fund may hold additional cash, sell investments or temporarily borrow from banks and other lenders.** 

&nbsp;&nbsp;&nbsp;&nbsp;(e) **Call Risk. If, during periods of falling interest rates, an issuer calls higher-yielding debt securities held by the Strategy, the Strategy may have to reinvest in securities with lower yields or higher risk of default, which may adversely impact the Strategy's performance.** 

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**February 28, 2026(continued)** 

6. Significant Risks and Uncertainties (continued)

&nbsp;&nbsp;&nbsp;&nbsp;(f) **Cash Position Risk. To the extent the Fund holds assets in cash and cash equivalents, the ability of the Fund to meet its objective may be limited.** 

&nbsp;&nbsp;&nbsp;&nbsp;(g) **Collateralized Loan Obligations (CLOs) Risk. CLOs are securities backed by an underlying portfolio of loan obligations. CLOs issue classes or "tranches" that vary in risk and yield and may experience substantial losses due to actual defaults, decrease in market value due to collateral defaults and removal of subordinate tranches, market anticipation of defaults and investor aversion to CLO securities as a class. The risks of investing in CLOs depend largely on the tranche invested in and the type of the underlying debts and loans in the tranche of the CLO in which the Fund invests. CLOs also carry risks including, but not limited to, interest rate risk and credit risk, which are described below. For example, a liquidity crisis in the global credit markets could cause substantial fluctuations in prices for leveraged loans and limited liquidity for such instruments. When the Fund invests in CLOs, in addition to directly bearing the expenses associated with its own operations, it may bear a pro rata portion of the CLO's expenses.** 

&nbsp;&nbsp;&nbsp;&nbsp;(h) **Commercial Paper Risk. Commercial paper is a short-term obligation with a maturity generally ranging from one to 270 days and is issued by U.S. or foreign companies or other entities in order to finance their current operations. Such investments are unsecured and usually discounted from their value at maturity. The value of commercial paper may be affected by changes in the credit rating or financial condition of the issuing entities and will tend to fall when interest rates rise and rise when interest rates fall.** 

&nbsp;&nbsp;&nbsp;&nbsp;(i) **Commodity Investments Risk. The market price of commodity investments may be volatile due to fluctuating demand, supply disruption, speculation, and other factors. Certain commodity investments may have no active trading market at times. The value of commodities investments will generally be affected by overall market movements and factors specific to a particular industry or commodity, which may include weather, pandemics, epidemics, embargoes, tariffs, and health, political, international and regulatory developments. Economic and other events (whether real or perceived) can reduce the demand for commodities, which may reduce market prices and cause the value of shares of the Fund to fall. Exposure to commodities and commodities markets may subject the fund to greater volatility than investments in traditional securities.** 

&nbsp;&nbsp;&nbsp;&nbsp;(j) **Concentration Risk. Issuers in a single industry, sector, country or region can react similarly to market, economic, political, regulatory, geopolitical, and other conditions. The Fund's performance will be affected by the conditions in the industries, sectors, countries and regions to which the Fund is exposed.** 

&nbsp;&nbsp;&nbsp;&nbsp;(k) **Contingent Capital Security Risk. Contingent capital securities (sometimes referred to as "CoCos") have loss absorption mechanisms benefitting the issuer built into their terms. Upon the occurrence of a specified trigger or event, CoCos may be subject to automatic conversion into the issuer's common stock, which likely will have declined in value and which will be subordinate to the issuer's other classes of securities, or to an automatic write-down of the principal amount of the securities, potentially to zero, which could result in the Strategy losing a portion or all of its investment in such securities. CoCos are often rated below investment grade and are subject to the risks of high yield securities.** 

&nbsp;&nbsp;&nbsp;&nbsp;(l) **Convertible Securities Risk. The value of a convertible security, which is a form of hybrid security (i.e., a security with both debt and equity characteristics), typically increases or decreases with the price of the underlying common stock. In general, a convertible security is subject to the market risks of stocks when the underlying stock's price is high relative to the conversion price and is subject to the market risks of debt securities when the underlying stock's price is low relative to the conversion price. The general market risks of debt securities that are common to convertible securities include, but are not limited to, interest rate risk and credit risk — that is, the value of convertible securities will move in the direction opposite to movements in interest rates; they are subject to the risk that the issuer will not be able to pay interest or dividends when due; and their market value may change based on changes in the issuer's credit rating or the market's perception of the issuer's creditworthiness. Many convertible securities have credit ratings that are below investment grade and are subject to the same risks as an investment in lower-rated debt securities (commonly known as "junk bonds"). Lower-rated debt securities may fluctuate more widely in price and yield than investment grade debt securities and may fall in price during times when the economy is weak or is expected to become weak. To the extent the Fund invests in convertible securities issued by small- or mid-cap companies, it will be subject to the risks of investing in such companies.** 

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**Notes to Financial Statements** 

**February 28, 2026(continued)** 

6. Significant Risks and Uncertainties (continued)

&nbsp;&nbsp;&nbsp;&nbsp;(m) **Credit Risk. Credit risk refers to the possibility that the issuer of a debt security (i.e., the borrower) will not be able to make principal and interest payments when due. Changes in an issuer's credit rating or the market's perception of an issuer's creditworthiness may also affect the value of the Fund's investment in that issuer. The degree of credit risk depends on the issuer's financial condition and on the terms of the securities. Credit spread risk is the risk that economic and market conditions or any actual or perceived credit deterioration may lead to an increase in the credit spreads (i.e., the difference in yield between two securities of similar maturity but different credit quality) and a decline in price of the issuer's securities.** 

&nbsp;&nbsp;&nbsp;&nbsp;(n) **Currency Risk. Exchange rates for currencies fluctuate daily. Accordingly, the Fund may experience volatility with respect to the value of its shares and its returns as a result of its exposure to foreign currencies through direct holdings of such currencies or holdings in non-U.S. dollar denominated securities.** 

&nbsp;&nbsp;&nbsp;&nbsp;(o) **Depositary Receipts Risk. Because the Fund may invest in depositary receipts, to include American Depositary Receipts (ADRs), Global Depositary Receipts (GDRs), European Depositary Receipts (EDRs), and other domestically-traded securities of foreign companies, the Fund's share price may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.** 

&nbsp;&nbsp;&nbsp;&nbsp;(p) **Derivatives Risk. Derivatives, such as forwards, futures, options and swaps, involve risks different from, or possibly greater than, risks associated with investing directly in securities and other traditional investments. Specific risk issues related to the use of such derivatives include valuation and tax issues, increased potential for losses and/or costs to the Fund, and a potential reduction in gains to the Fund. Each of these issues is described in greater detail in the Fund's prospectus. Derivatives may also involve other risks described in the Fund's prospectus or the Fund's Statement of Additional Information (SAI), such as market, interest rate, credit, counterparty, currency, liquidity and leverage risks.** 

&nbsp;&nbsp;&nbsp;&nbsp;(q) **Dividend Income Risk. There is no guarantee that the issuers of the stocks held by the Fund will declare dividends in the future or that, if dividends are declared, they will remain at their current levels or increase over time.** 

&nbsp;&nbsp;&nbsp;&nbsp;(r) **Equity Securities Risk. The Fund is subject to the risk that stock prices will fall over short or extended periods of time. Individual companies may report poor results or be negatively affected by industry and/or economic trends and developments. The prices of securities issued by these companies may decline in response to such developments, which could result in a decline in the value of the Fund's shares.** 

&nbsp;&nbsp;&nbsp;&nbsp;(s) **Europe and United Kingdom Risk. The European financial markets have experienced increased volatility due to concerns about economic downturns, political unrest, war, military conflict, economic sanctions, rising government debt levels, energy crises, and public pandemics, and these events may continue to significantly affect all of Europe. European economies could be significantly affected by, among other things, rising unemployment, the imposition or unexpected elimination of fiscal and monetary controls by member countries of the European Economic and Monetary Union, uncertainty surrounding the euro, the success of governmental actions to reduce budget deficits, and ongoing uncertainties surrounding Brexit, the formal withdrawal by the United Kingdom from the European Union. In addition, acts of war may amplify already existing geopolitical tensions and could increase volatility and uncertainty in the financial markets and adversely affect regional and global economies.** 

&nbsp;&nbsp;&nbsp;&nbsp;(t) **Event-Driven Risk. Event-driven opportunities may not occur as anticipated, resulting in potentially reduced returns or losses to the Fund as it unwinds trades where those opportunities do not materialize as anticipated.** 

&nbsp;&nbsp;&nbsp;&nbsp;(u) **Exchange-Traded Notes (ETNs) Risk. The Fund may invest in ETNs, which are notes representing unsecured debt of the issuer. ETNs are typically linked to the performance of an index plus a specified rate of interest that could be earned on cash collateral. The value of an ETN may be influenced by time to maturity, level of supply and demand for the ETN, volatility and lack of liquidity in underlying markets, changes in the applicable interest rates, changes in the issuer's credit rating and economic, legal, political or geographic events that affect the referenced index.** 

&nbsp;&nbsp;&nbsp;&nbsp;(v) **Extension Risk. When interest rates rise, certain obligations will be paid off by the obligor more slowly than anticipated, causing the value of these obligations to fall.** 

&nbsp;&nbsp;&nbsp;&nbsp;(w) **Fixed Income Market Risk. The prices of the Fund's fixed income securities respond to economic developments, particularly interest rate changes, as well as to perceptions about the creditworthiness of individual issuers, including** 

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**February 28, 2026(continued)** 

6. Significant Risks and Uncertainties (continued)

governments and their agencies. Generally, the Fund's fixed income securities will decrease in value if interest rates rise and vice versa. In a low interest rate environment, risks associated with rising rates are heightened. Declines in dealer market-making capacity as a result of structural or regulatory changes could decrease liquidity and/or increase volatility in the fixed income markets. In the case of foreign securities, price fluctuations will reflect international economic and political events, as well as changes in currency valuations relative to the U.S. dollar. In response to these events, the Fund's value may fluctuate and/or the Fund may experience increased redemptions from shareholders, which may impact the Fund's liquidity or force the Fund to sell securities into a declining or illiquid market.

&nbsp;&nbsp;&nbsp;&nbsp;(x) **Foreign and Emerging Markets Securities Risk. Foreign securities subject the Fund to the risks associated with investing in the particular country of an issuer, including the political, regulatory, economic, social, diplomatic and other conditions or events, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies. The performance of the Fund may also be negatively impacted by fluctuations in a foreign currency's strength or weakness relative to the U.S. dollar. Risks of foreign investment tend to be greater in emerging markets, which tend to be more likely to experience political turmoil or rapid change to market or economic conditions. Investments in emerging markets can involve additional and greater risks than the risks associated with investments in developed foreign markets. Emerging markets can have less developed markets, greater custody and operational risk, less developed legal, regulatory, and accounting systems, and greater political, social, and economic instability than developed markets. Frontier markets, considered by the Fund to be a subset of emerging markets, generally have smaller economies and less mature capital markets than emerging markets. As a result, the risks of investing in emerging market countries are magnified in frontier market countries.** 

&nbsp;&nbsp;&nbsp;&nbsp;(y) **Growth Stock Risk. Growth stocks are typically priced higher than other stocks, in relation to earnings and other measures, because investors believe they have more growth potential. This potential may or may not be realized and, if it is not realized, may result in a loss to the Fund. Growth stock prices also tend to be more volatile than the overall market.** 

&nbsp;&nbsp;&nbsp;&nbsp;(z) **Hedging Risk. Hedges are sometimes subject to imperfect matching between the derivative and the underlying security, and there can be no assurance that the Fund's hedging transactions will be effective. In addition, the use of hedging may result in certain adverse tax consequences.** 

&nbsp;&nbsp;&nbsp;&nbsp;(aa) **High Yield (Junk Bonds) Risk. The risk that debt instruments rated below investment grade or debt instruments that are unrated and determined by the Sub-advisers to be of comparable quality are predominantly speculative. These instruments commonly known as 'junk bonds,' have a higher degree of default risk and may be less liquid than higher-rated bonds. These instruments may be subject to greater price volatility due to such factors as specific corporate developments, interest rate sensitivity, negative perceptions of high yield investments generally, and less secondary market liquidity.** 

&nbsp;&nbsp;&nbsp;&nbsp;(ab) **Indian Market and India Region Risk. Government actions, bureaucratic obstacles and inconsistent economic and tax reform policies within the Indian government have had a significant effect on the economy and could adversely affect market conditions, deter economic growth and reduce the profitability of private enterprises. Global factors and foreign actions may inhibit the flow of foreign capital on which India is dependent to sustain its growth. Large portions of many Indian companies remain in the hands of their founders (including members of their families). Family-controlled companies may have weaker and less transparent corporate governance, which increases the potential for loss and unequal treatment of investors. India experiences many of the market risks associated with developing economies, including relatively low levels of liquidity, which may result in extreme volatility in the prices of Indian securities. Religious, cultural and military disputes persist in India, and between India and Pakistan (as well as sectarian groups within each country). The threat of aggression in the region could hinder development of the Indian economy, and escalating tensions could impact the broader region, including China. Because the Fund may invest a large percentage of its assets in India, the value of the Fund's shares may be affected by events that adversely affect India and may fluctuate more than the value of a less concentrated fund's shares.** 

&nbsp;&nbsp;&nbsp;&nbsp;(ac) **Interest Rate Risk. The risk that debt instruments will change in value because of changes in interest rates. Generally, the value of the Fund's fixed income securities will vary inversely with the direction of prevailing interest rates. Changing interest rates may have unpredictable effects on the markets and may affect the value and liquidity of instruments held by the Fund.** 

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**February 28, 2026(continued)** 

6. Significant Risks and Uncertainties (continued)

&nbsp;&nbsp;&nbsp;&nbsp;(ad) **Investment Company and Exchange-Traded Funds (ETFs) Risk. When the Fund invests in an investment company, including closed-end funds and ETFs, in addition to directly bearing the expenses associated with its own operations, it will bear a pro rata portion of the investment company's expenses. Further, while the risks of owning shares of an investment company generally reflect the risks of owning the underlying investments of the investment company, the Fund may be subject to additional or different risks than if the Fund had invested directly in the underlying investments.** 

&nbsp;&nbsp;&nbsp;&nbsp;(ae) **Investment Style Risk. Different investment styles tend to shift in and out of favor depending on market conditions and investor sentiment. A Sub-adviser's approach to investing could cause it to underperform other managers that employ a different investment style.** 

&nbsp;&nbsp;&nbsp;&nbsp;(af) **Liquidity Risk. The risk that certain securities may be difficult or impossible to sell at the time and the price that the seller would like. The seller may have to lower the price of the security, sell other securities instead or forego an investment opportunity, any of which could have a negative effect on Fund management or performance.** 

&nbsp;&nbsp;&nbsp;&nbsp;(ag) **Loan Assignment/Loan Participation Risk. If a bank loan is acquired through an assignment or a participation, the Fund will be exposed to the credit risk of both the borrower or the institution selling the participation.** 

&nbsp;&nbsp;&nbsp;&nbsp;(ah) **Management Risk. Securities held by the Fund may underperform those held by other funds investing in the same asset class or benchmarks that are representative of the asset class because of the Sub-advisers' choice of securities.** 

&nbsp;&nbsp;&nbsp;&nbsp;(ai) **Market Risk. Market values of securities or other investments that the Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. Returns from the securities in which the Fund invests may underperform returns from the general securities markets or other types of securities. Markets may decline significantly in response to adverse issuer, political, regulatory, market, economic or other developments that may cause broad changes in market value, public perceptions concerning these developments, and adverse investor sentiment or publicity. Similarly, environmental and public health risks, such as natural disasters, epidemics, pandemics or widespread fear that such events may occur, may impact markets adversely and cause market volatility in both the short- and long-term.** 

&nbsp;&nbsp;&nbsp;&nbsp;(aj) **Mid-Cap Securities Risk. Mid-capitalization stocks tend to perform differently from other segments of the equity market or the equity market as a whole and can be more volatile than stocks of large-capitalization companies. Mid-capitalization companies may be newer or less established, and may have limited resources, products and markets, and may be less liquid.** 

&nbsp;&nbsp;&nbsp;&nbsp;(ak) **MLP Risk. MLPs often own several properties or businesses (or own interests) that are related to oil and gas industries or other natural resources, but they also may finance other projects. To the extent that an MLP's interests are all in a particular industry, the MLP will be negatively impacted by economic events adversely impacting the industry. Additional risks of investing in an MLP also include those involved in investing in a partnership as opposed to a corporation, such as limited control of management, limited voting rights and tax risks.** 

&nbsp;&nbsp;&nbsp;&nbsp;(al) **Mortgage-Backed Securities Risk. The risk that borrowers may default on their mortgage obligations or the guarantees underlying the mortgage-backed securities will default or otherwise fail and that, during periods of falling interest rates, mortgage-backed securities will be called or prepaid, which may result in the Fund having to reinvest proceeds in other investments at a lower interest rate. During periods of rising interest rates, the average life of a mortgage-backed security may extend, which may lock in a below-market interest rate, increase the security's duration, and reduce the value of the security. Enforcing rights against the underlying assets or collateral may be difficult, or the underlying assets or collateral may be insufficient if the issuer defaults. The values of certain types of mortgage-backed securities, such as inverse floaters and interest-only and principal-only securities, may be extremely sensitive to changes in interest rates and prepayment rates.** 

&nbsp;&nbsp;&nbsp;&nbsp;(am) **Multi-Manager Risk. The Adviser may be unable to identify and retain Sub-advisers who achieve superior investment returns relative to other similar Sub-advisers. In addition, the investment styles of the Sub-advisers may not complement each other as expected by the Adviser. The Fund may experience a higher portfolio turnover rate, which can increase the Fund's transaction costs and more taxable short-term gains for shareholders.** 

&nbsp;&nbsp;&nbsp;&nbsp;(an) **Municipal Securities Risk. The risk that municipal securities may be subject to credit/default risk, interest rate risk and certain additional risks. The Fund may be more sensitive to adverse economic, business or political developments if it** 

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6. Significant Risks and Uncertainties (continued)

invests more than 25% of its assets in the debt securities of similar projects (such as those relating to education, healthcare, housing, transportation, and utilities), industrial development bonds, or in particular types of municipal securities (such as general obligation bonds, private activity bonds and moral obligation bonds).

&nbsp;&nbsp;&nbsp;&nbsp;(ao) **Natural Resources Investment Risk. Investment in companies in natural resources industries can be significantly affected by (often rapid) changes in supply of, or demand for, various natural resources.** 

&nbsp;&nbsp;&nbsp;&nbsp;(ap) **Non-Diversified Risk. As a non-diversified fund, the Fund may invest a larger portion of its assets in a smaller number of issuers. This could make the Fund more susceptible to economic or credit risks than a diversified fund.** 

&nbsp;&nbsp;&nbsp;&nbsp;(aq) **Portfolio Turnover Risk. Frequent buying and selling of investments may involve higher trading costs and other expenses and may affect the Fund's performance over time.** 

&nbsp;&nbsp;&nbsp;&nbsp;(ar) **Preferred Securities Risk. The risk that: (i) certain preferred stocks contain provisions that allow an issuer under certain conditions to skip or defer distributions; (ii) preferred stocks may be subject to redemption, including at the issuer's call, and, in the event of redemption, the Fund may not be able to reinvest the proceeds at comparable or favorable rates of return; (iii) preferred stocks are generally subordinated to bonds and other debt securities in an issuer's capital structure in terms of priority for corporate income and liquidation payments; and (iv) preferred stocks may trade less frequently and in a more limited volume and may be subject to more abrupt or erratic price movements than many other securities.** 

&nbsp;&nbsp;&nbsp;&nbsp;(as) **Prepayment Risk. When interest rates fall, certain obligations will be paid off by the obligor more quickly than originally anticipated, and the Fund may have to invest the proceeds in securities with lower yields.** 

&nbsp;&nbsp;&nbsp;&nbsp;(at) **Private Placement Risk. A private placement involves the sale of securities that have not been registered under U.S. or foreign securities laws to certain institutional and qualified individual purchasers. In addition to the general risks to which all securities are subject, securities received in a private placement generally are subject to strict restrictions on resale, and there may be no liquid secondary market or ready purchaser for such securities. Securities sold through private placements are not publicly traded and, therefore, are less liquid. Companies seeking private placement investments tend to be in earlier stages of development and have not yet been fully tested in the public marketplace.** 

&nbsp;&nbsp;&nbsp;&nbsp;(au) **Puerto Rico Investments Risk. To the extent the Fund invests in Puerto Rico municipal securities, the Fund's performance will be affected by the fiscal and economic health of the Commonwealth of Puerto Rico, its political subdivisions, municipalities, agencies and authorities and political and regulatory developments affecting Puerto Rico municipal issuers. Developments in Puerto Rico may adversely affect the securities held by the Fund. Unfavorable developments in any economic sector may have far-reaching ramifications on the overall Puerto Rico municipal market.** 

&nbsp;&nbsp;&nbsp;&nbsp;(av) **Real Assets Risk. Investments in the energy, materials, industrials, utilities and real estate sectors involve a high degree of risk, including significant financial, operating, and competitive risks. Investments in REITs and MLPs expose the Fund to adverse macroeconomic conditions, such as changes and volatility in commodity prices, a rise in interest rates or a downturn in the economy in which the asset is located, elevating the risk of loss.** 

&nbsp;&nbsp;&nbsp;&nbsp;(aw) **Real Estate Investment Trusts (REITs) Risk. REITs are trusts that invest primarily in commercial real estate or real estaterelated loans. The Fund's investments in REITs will be subject to the risks associated with the direct ownership of real estate. Risks commonly associated with the direct ownership of real estate include fluctuations in the value of underlying properties, defaults by borrowers or tenants, changes in interest rates and risks related to general or local economic conditions. Some REITs may have limited diversification and may be subject to risks inherent in financing a limited number of properties.** 

&nbsp;&nbsp;&nbsp;&nbsp;(ax) **Sector Risk. Companies with similar characteristics may be grouped together in broad categories called sectors. Sector risk is the possibility that a certain sector may underperform other sectors or the market as a whole. To the extent the Fund invests more heavily in particular sectors of the economy, its performance will be more susceptible to any economic, business or other developments which generally affect that sector.** 

&nbsp;&nbsp;&nbsp;&nbsp;(ay) **Securities Lending Risk. The Fund may lose money from securities lending if, for example, it is delayed in or prevented from selling the collateral after the loan is made or recovering the securities loaned or if it incurs losses on the reinvestment of cash collateral.** 

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6. Significant Risks and Uncertainties (continued)

&nbsp;&nbsp;&nbsp;&nbsp;(az) **Senior Loans Risk. Senior loans are business loans made to borrowers that may be corporations, partnerships or other entities. Investing in senior loans involves investment risk and some borrowers default on their senior loan repayments. The risks associated with senior loans are similar to the risks of junk bonds, although senior loans typically are senior and secured, whereas junk bonds often are subordinated and unsecured. An economic downturn generally leads to a higher non-payment rate, and a senior loan may lose significant value before a default occurs. No active trading market may exist for certain senior loans, which may impair the ability of the Fund to realize full value in the event of the need to sell a senior loan and which may make it difficult to value senior loans. Senior loans are subject to the risk that when sold, such sale may not settle in a timely manner, resulting in a settlement date that may be much later than the trade date. Delayed settlement interferes with the Fund's ability to realize the proceeds of senior loan sales in a timely way.** 

&nbsp;&nbsp;&nbsp;&nbsp;(ba) **Short Sale Risk. Positions in shorted securities are speculative and more risky than long positions (purchases) in securities. Short selling will also result in higher transaction costs (such as interest and dividends), and may result in higher taxes, which reduce the Fund's return. Generally, the short sales in which the Fund may invest will not be "against the box," meaning the Fund will not own the shorted security, so theoretically the potential loss resulting from short sales is unlimited.** 

&nbsp;&nbsp;&nbsp;&nbsp;(bb) **Small-Cap and Micro-Cap Securities Risk. Small capitalization stocks may underperform other types of stocks or the equity market as a whole. Stocks of smaller companies may be subject to more abrupt or erratic market movements than stocks of larger, more established companies. Small companies may have limited product lines or financial resources or may be dependent upon a small or inexperienced management group. In addition, small-cap stocks typically are traded in lower volume, are less liquid, and their issuers typically are subject to greater degrees of changes in their earnings and prospects. These risks may be heightened with respect to micro-cap companies.** 

&nbsp;&nbsp;&nbsp;&nbsp;(bc) **Sovereign Obligation Risk. The issuer of the sovereign debt or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay principal or interest when due, and the underlying funds may have limited recourse in the event of a default.** 

&nbsp;&nbsp;&nbsp;&nbsp;(bd) **Special Purpose Acquisition Companies Risks. The Fund may, to the extent permitted by the 1940 Act, as amended, and its investment policies, invest in special purpose acquisition companies ("SPACs"). Unless and until an acquisition is completed, a SPAC generally invests its assets (less an amount to cover expenses) in U.S. Government securities, money market fund securities and cash. SPACs and similar entities may be blank check companies with no operating history or ongoing business other than to seek a potential acquisition. Accordingly, the value of their securities is particularly dependent on the ability of the entity's management to identify and complete a profitable acquisition. Certain SPACs may seek acquisitions only in limited industries or regions, which may increase the volatility of their prices. Investments in SPACs may be illiquid and/or be subject to restrictions on resale. To the extent the SPAC is invested in cash or similar securities, this may impact a Fund's ability to meet its investment objective.** 

&nbsp;&nbsp;&nbsp;&nbsp;(be) **Structured Notes Risk. The Fund may invest in structured notes, which are derivative debt securities, the interest rate or principal of which is determined by an unrelated indicator. Indexed securities include structured notes as well as securities other than debt securities, the interest rate or principal of which is determined by an unrelated indicator. Indexed securities may include a multiplier that multiplies the indexed element by a specified factor and, therefore, the value of such securities may be very volatile.** 

&nbsp;&nbsp;&nbsp;&nbsp;(bf) **Tax Risk. The risk that future legislative or administrative changes or court decisions may materially affect the value of municipal instruments or the ability of the Fund to pay tax-exempt dividends. The Fund may rely on the opinion of issuers' bond counsel on the tax-exempt status of interest on municipal bond obligations. In such instances, neither the Fund nor the Sub-adviser will independently review the bases for those tax opinions, which may ultimately be determined to be incorrect and subject the Fund and its shareholders to substantial tax liabilities. Some of the Fund's income distributions may be, and distributions of the Fund's gains may be, subject to federal taxation. The Fund may realize taxable gains on the sale of its securities or other transactions, and some of the Fund's income distributions may be subject to the AMT tax applicable to non-corporate shareholders. This may result in a lower tax-adjusted return. Additionally, distributions of the Fund's income and gains generally will be subject to state taxation.** 

&nbsp;&nbsp;&nbsp;&nbsp;(bg) **TBA and When-Issued Transaction Risk. TBA and When-Issued securities involve risk that a security the Fund buys will lose value prior to its delivery. There is also risk that the security will not be issued or that the other party to the** 

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6. Significant Risks and Uncertainties (continued)

transaction will not meet its obligations. If this occurs, the Fund loses both the investment opportunity for the assets it set aside to pay for the security and any gain in the security's price.

&nbsp;&nbsp;&nbsp;&nbsp;(bh) **U.S. Government Securities Risk. Certain securities in which the Fund may invest, including securities issued by certain U.S. Government agencies and U.S. Government sponsored enterprises, are not guaranteed by the U.S. Government or supported by the full faith and credit of the United States.** 

&nbsp;&nbsp;&nbsp;&nbsp;(bi) **Value Stocks Risk. The risk that the Fund will underperform when value investing is out of favor or that the Fund's investments will not appreciate in value as anticipated.** 

&nbsp;&nbsp;&nbsp;&nbsp;(bj) **Warrants Risk. Warrants are instruments that entitle the holder to buy an equity security at a specific price for a specific period of time. Warrants may be more speculative than other types of investments. The price of a warrant may be more volatile than the price of its underlying security, and a warrant may offer greater potential for capital appreciation as well as capital loss. A warrant ceases to have value if it is not exercised prior to its expiration date.** 

7. Investment Management Agreement

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

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

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | **Sub-advisory** <br>**Fee** | **Brinker** <br>**Capital** <br>**Investments,** <br>**LLC** <br>**Fee** | **Maximum** <br>**Allowable** <br>**Annual** <br>**Management** <br>**Fee**  |
| Destinations Large Cap Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.16% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.44% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.75%  |
| Destinations Small-Mid Cap Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.36% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.44% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.90%  |
| Destinations International Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.34% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.44% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.00%  |
| Destinations Equity Income Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.24% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.44% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.80%  |
| Destinations Core Fixed Income Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.17% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.44% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.65%  |
| Destinations Low Duration Fixed Income Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.21% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.44% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.70%  |
| Destinations Global Fixed Income Opportunities Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.32% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.44% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.85%  |
| Destinations Municipal Fixed Income Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.15% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.44% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.70%  |
| Destinations Multi Strategy Alternatives Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.54% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.44% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.35%  |
| Destinations Shelter Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.35% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.44% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.85%  |
| Destinations Real Assets Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.31% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.44% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.00% |

---

Each Fund's actual advisory fees may be less than the amounts set forth above due to the effect of additional voluntary fee waivers. During the year ended February 28, 2026, no additional amounts were voluntary waived. In addition, since March 20, 2017, Brinker Capital has contractually waived a portion of its advisory fee with respect to any Fund in order to keep the Fund's management fees from exceeding 0.39% more than the total amount of sub-advisory fees paid by Brinker Capital with respect to such Fund. At a meeting in December 2023, in connection with an initiative to reduce overall expenses borne by the investors, the Board approved changes to Brinker Capital's contractual fee waiver such that effective as of April 1, 2024, Brinker Capital will now waive management fees in excess of 0.444% more than the total amount of sub-advisory fees paid by Brinker Capital with respect to each Fund. This adjustment was made to partially offset the effect on Brinker Capital of eliminating other revenues paid to it by investors outside of the Funds. The contractual fee waiver agreement may be amended or terminated only with the consent of the Board of Trustees.

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**February 28, 2026(continued)** 

7. Investment Management Agreement (continued)

For the year ended February 28, 2026, the amounts waived by the Adviser, which are not recoupable, were as follows:

---

| | |
|:---|:---|
| **Fund**<br>|  |
| Destinations Large Cap Equity Fund | $5281393  |
| Destinations Small-Mid Cap Equity Fund | 632999  |
| Destinations International Equity Fund | 4242706  |
| Destinations Equity Income Fund | 541714  |
| Destinations Core Fixed Income Fund | 543987  |
| Destinations Low Duration Fixed Income Fund | 134572  |
| Destinations Global Fixed Income Opportunities Fund | 577553  |
| Destinations Municipal Fixed Income Fund | 732482  |
| Destinations Multi Strategy Alternatives Fund | 1994203  |
| Destinations Shelter Fund | 52482  |
| Destinations Real Assets Fund | 826572 |

---

During the year ended February 28, 2026, a Sub-adviser of Destinations International Equity Fund reimbursed the Fund $698,616 for trading losses incurred due to trade entry errors.

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

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

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | **Purchases** | **Sales** | **Realized** <br>**Gain/(Loss)**  |
| Destinations International Equity Fund | &nbsp;&nbsp;&nbsp; $— | $541380 | $(308633) |

---

8. Class Specific Expenses

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

Shares of different classes are available to different eligible investors.

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

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

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**Notes to Financial Statements** 

**February 28, 2026(continued)** 

8. Class Specific Expenses (continued)

For the year ended February 28, 2026, class specific expenses were as follows:

---

| | |
|:---|:---|
| | **Sub-Transfer** <br>**Agent Fees**  |
| <br>**Fund** | **Class I**  |
| Destinations Large Cap Equity Fund | &nbsp;&nbsp; $4902766  |
| Destinations Small-Mid Cap Equity Fund | &nbsp;&nbsp; 934557  |
| Destinations International Equity Fund | &nbsp;&nbsp; 2672604  |
| Destinations Equity Income Fund | &nbsp;&nbsp; 665476  |
| Destinations Core Fixed Income Fund | &nbsp;&nbsp; 2155889  |
| Destinations Low Duration Fixed Income Fund | &nbsp;&nbsp; 401613  |
| Destinations Global Fixed Income Opportunities Fund | &nbsp;&nbsp; 979431  |
| Destinations Municipal Fixed Income Fund | &nbsp;&nbsp; 935638  |
| Destinations Multi Strategy Alternatives Fund | &nbsp;&nbsp; 764283  |
| Destinations Shelter Fund | &nbsp;&nbsp; 139788  |
| Destinations Real Assets Fund | &nbsp;&nbsp; 454351 |

---

9. Investments

During the year ended February 28, 2026, the aggregate cost of purchases and proceeds from sales of investments (excluding short-term investments and in-kind transactions) for each Fund were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Investments** | **Investments** | **U.S. Government &** <br>**Agency Obligations**  | **U.S. Government &** <br>**Agency Obligations**  |
| <br>**Fund** | **Purchases** | **Sales** | **Purchases** | **Sales**  |
| Destinations Large Cap Equity Fund | $3495866204 | $3517261351 | $— | $—  |
| Destinations Small-Mid Cap Equity Fund | 840293092 | 864154403 |  | —  |
| Destinations International Equity Fund | 1049727843 | 1248693889 |  | —  |
| Destinations Equity Income Fund | 294953251 | 316045401 |  | —  |
| Destinations Core Fixed Income Fund | 2165605362 | 2423479448 | 1712674540 | 1840409396  |
| Destinations Low Duration Fixed Income Fund | 204525565 | 259513501 | 19214357 | 18591167  |
|  Destinations Global Fixed Income Opportunities Fund | 666204535 | 715631421 | 4988728 | 9723703  |
| Destinations Municipal Fixed Income Fund | 300600806 | 439261943 |  | —  |
| Destinations Multi Strategy Alternatives Fund | 238246988 | 382385871 |  | —  |
| Destinations Shelter Fund | 11478630 | 32206653 |  | —  |
| Destinations Real Assets Fund | 300537801 | 307068433 |  |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Investments** | **Investments** | **U.S. Government & Agency**<br>**Obligations**  | **U.S. Government & Agency**<br>**Obligations**  |
| <br>**Fund** | **Securities**<br>**Sold Short** | **Covers on**<br>**Securities**<br>**Sold Short** | **Securities**<br>**Sold Short** | **Covers on**<br>**Securities**<br>**Sold Short**  |
| Destinations Large Cap Equity Fund | $— | $— | $— | $—  |
| Destinations Small-Mid Cap Equity Fund | 2495731 | 2499775 |  | —  |
| Destinations International Equity Fund |  |  |  | —  |
| Destinations Equity Income Fund |  |  |  | —  |
| Destinations Core Fixed Income Fund | 469086284 | 456569615 | 469086284 | 456569615  |
| Destinations Low Duration Fixed Income Fund |  |  |  | —  |
| Destinations Global Fixed Income Opportunities Fund | 16517001 | 15779435 |  | —  |
| Destinations Municipal Fixed Income Fund |  |  |  | —  |
| Destinations Multi Strategy Alternatives Fund | 5611170 | 10863868 | 3793438 | 3799345  |
| Destinations Shelter Fund |  |  |  | —  |
| Destinations Real Assets Fund | 8857 | 8785 |  |  |

---

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**Notes to Financial Statements** 

**February 28, 2026(continued)** 

9. Investments (continued)

At February 28, 2026, the aggregate gross unrealized appreciation and depreciation of investments for federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Aggregate Cost** <br>**For Federal Income** <br>**Tax Purposes** | **Gross** <br>**Unrealized** <br>**Appreciation** | **Gross** <br>**Unrealized** <br>(Depreciation) | **Net Unrealized** <br>**Appreciation** <br>(Depreciation)  |
| Destinations Large Cap Equity Fund  | $2772405383  | $792492743  | $(83275470)  | $709217273  |
| Destinations Small-Mid Cap Equity Fund  | 581872333  | 200363891  | (28877261)  | 171486630  |
| Destinations International Equity Fund  | 1520597278  | 782524544  | (109454267)  | 673070277  |
| Destinations Equity Income Fund  | 391040617  | 138714422  | (8551577)  | 130162845  |
| Destinations Core Fixed Income Fund  | 1645579591  | 22978118  | (113363759) | (90385641) |
| Destinations Low Duration Fixed Income Fund  | 294960798  | 5707767  | (12898212)  | (7190445) |
|  Destinations Global Fixed Income Opportunities Fund  | 708288015  | 21208526  | (27298436) | (6089910) |
| Destinations Municipal Fixed Income Fund  | 642936802  | 18307926  | (10893773) | 7414153  |
| Destinations Multi Strategy Alternatives Fund  | 498934256  | 18207991  | (16681896)  | 1526095  |
| Destinations Shelter Fund  | 50188371  | 42370459  | (403751)  | 41966708  |
| Destinations Real Assets Fund  | 337682285  | 76706382  | (10136335)  | 66570047 |

---

10. Shares of Beneficial Interest

At February 28, 2026, the Trust had an unlimited number of units of beneficial interest (shares) authorized with a par value of $0.001 per share. At February 28, 2026, Trustees and executive officers of the Trust as a group owned of record less than 1% of the outstanding shares of the Trust.

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Year ended**<br>**28 February, 2026** | **Year ended**<br>**28 February, 2026** | **Year ended**<br>**28 February, 2026** | **Year ended**<br>**28 February, 2026** | **Year ended**<br>**28 February, 2025** | **Year ended**<br>**28 February, 2025** | **Year ended**<br>**28 February, 2025**  | **Year ended**<br>**28 February, 2025**  |
|  | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount**  |
|  | **Class I** | **Class I** | **Class Z** | **Class Z** | **Class I** | **Class I** | **Class Z** | **Class Z**  |
|  **Destinations Large Cap Equity Fund**<br>|  |  |  |  |  |  |  |  |
| Shares sold | 42649931 | $678007746 | 58573259 | $648383392 | 47936226 | $776617278 | 18123352 | $206973040  |
|  Shares issued on reinvestment | 13556358 | 218392931 | 2916800 | 32376479 | 32581312 | 497842444 | 5465201 | 59297429  |
| Shares repurchased | (96964991) | (1528952979) | (62490198) | (693338534) | (90555445) | (1486366178) | (27754971) | (335806573)  |
| Net Decrease | **(40758702)** | **$(632552302)** | **(1000139)** | **$(12578663)** | **(10037907)** | **$(211906456)** | **(4166418)** | **$(69536104)**  |
|  **Destinations Small-Mid Cap Equity Fund**<br>|  |  |  |  |  |  |  |  |
| Shares sold | 3173805 | $43881480 | 20046417 | $191688284 | 8475286 | $117602808 | 4984628 | $47988892  |
|  Shares issued on reinvestment | 2937626 | 41714294 | 596609 | 5900460 | 3939119 | 52902360 | 657807 | 6321522  |
| Shares repurchased | (15632210) | (208386522) | (21012873) | (201301952) | (18713154) | (262615321) | (7416958) | (75164227)  |
| Net Decrease | **(9520779)** | **$(122790748)** | **(369847)** | **$(3713208)** | **(6298749)** | **$(92110153)** | **(1774523)** | **$(20853813)**  |
|  **Destinations International Equity Fund**<br>|  |  |  |  |  |  |  |  |
| Shares sold | 7885503 | $117662626 | 17090554 | $219616076 | 12798432 | $169733065 | 2515401 | $28673039  |
|  Shares issued on reinvestment | 11320746 | 164264031 | 1675127 | 20403047 | 4931367 | 61888659 | 625831 | 6715166  |
| Shares repurchased | (35217911) | (513731760) | (17978104) | (230338986) | (57581642) | (762847638) | (10564096) | (120464003)  |
| Net Increase/(Decrease) | **(16011662)** | **$(231805103)** | **787577** | **$9680137** | **(39851843)** | **$(531225914)** | **(7422864)** | **$(85075798)**  |
|  **Destinations Equity Income Fund**<br>|  |  |  |  |  |  |  |  |
| Shares sold | 2854109 | $39241896 | 7255848 | $95709116 | 4563391 | $56725520 | 1799693 | $22428274  |
|  Shares issued on reinvestment | 2706000 | 37014549 | 250107 | 3291246 | 1149834 | 14115335 | 111768 | 1321557  |
| Shares repurchased | (9774660) | (132564488) | (7405398) | (97707522) | (17895047) | (223795561) | (4099653) | (50402428)  |
| Net Increase/(Decrease) | **(4214551)** | **$(56308043)** | **100557** | **$1292840** | **(12181822)** | **$(152954706)** | **(2188192)** | **$(26652597)**  |

---

374<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Notes to Financial Statements** 

**February 28, 2026(continued)** 

10. Shares of Beneficial Interest (continued)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Year ended**<br>**28 February, 2026** | **Year ended**<br>**28 February, 2026** | **Year ended**<br>**28 February, 2026** | **Year ended**<br>**28 February, 2026** | **Year ended**<br>**28 February, 2025** | **Year ended**<br>**28 February, 2025** | **Year ended**<br>**28 February, 2025**  | **Year ended**<br>**28 February, 2025**  |
|  | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount**  |
|  | **Class I** | **Class I** | **Class Z** | **Class Z** | **Class I** | **Class I** | **Class Z** | **Class Z**  |
|  **Destinations Core Fixed Income Fund**<br>|  |  |  |  |  |  |  |  |
| Shares sold | 13371578 | $113204352 | 2484471 | $21753511 | 22071426 | $185304812 | 2961846 | $25602213  |
|  Shares issued on reinvestment | 6568880 | 55665503 | 609596 | 5329303 | 7816163 | 65558012 | 759086 | 6558623  |
| Shares repurchased | (50502788) | (426313178) | (3816140) | (33271494) | (59385723) | (499257354) | (10019343) | (86894652)  |
| Net Decrease | **(30562330)** | **$(257443323)** | **(722073)** | **$(6188680)** | **(29498134)** | **$(248394530)** | **(6298411)** | **$(54733816)**  |
|  **Destinations Low Duration Fixed Income Fund**<br>|  |  |  |  |  |  |  |  |
| Shares sold | 3747102 | $34965506 | 529530 | $5085578 | 6608538 | $61812158 | 791820 | $7601425  |
|  Shares issued on reinvestment | 1687215 | 15663939 | 135648 | 1295341 | 1935803 | 18055182 | 158218 | 1515513  |
| Shares repurchased | (10476154) | (97733224) | (771975) | (7408022) | (16386201) | (153152676) | (2086269) | (20015299)  |
| Net Decrease | **(5041837)** | **$(47103779)** | **(106797)** | **$(1027103)** | **(7841860)** | **$(73285336)** | **(1136231)** | **$(10898361)**  |
|  **Destinations Global Fixed Income Opportunities Fund**<br>|  |  |  |  |  |  |  |  |
| Shares sold | 12398190 | $116644552 | 1182810 | $11394295 | 11998520 | $112672168 | 1316276 | $12610023  |
|  Shares issued on reinvestment | 4563644 | 42825245 | 358620 | 3443355 | 4998004 | 46714270 | 427746 | 4084374  |
| Shares repurchased | (21117962) | (198180906) | (1284570) | (12357959) | (24901718) | (233835397) | (3722078) | (35708821)  |
| Net Increase/(Decrease) | **(4156128)** | **$(38711109)** | **256860** | **$2479691** | **(7905194)** | **$(74448959)** | **(1978056)** | **$(19014424)**  |
|  **Destinations Municipal Fixed Income Fund**<br>|  |  |  |  |  |  |  |  |
| Shares sold | 5352459 | $51086630 | 1403866 | $13522634 | 7322867 | $70782590 | 1421209 | $13772481  |
|  Shares issued on reinvestment | 1949833 | 18628052 | 123382 | 1185500 | 2358382 | 22732761 | 133259 | 1291099  |
| Shares repurchased | (20130393) | (191981624) | (1259922) | (12121798) | (19744435) | (190744803) | (2651132) | (25744203)  |
| Net Increase/(Decrease) | **(12828101)** | **$(122266942)** | **267326** | **$2586336** | **(10063186)** | **$(97229452)** | **(1096664)** | **$(10680623)**  |
|  **Destinations Multi Strategy Alternatives Fund**<br>|  |  |  |  |  |  |  |  |
| Shares sold | 9245426 | $95228667 | 934139 | $9385558 | 5248885 | $55251873 | 794428 | $8103661  |
|  Shares issued on reinvestment | 2467225 | 25454291 | 225372 | 2256729 | 3605145 | 37412072 | 334755 | 3378198  |
| Shares repurchased | (17222191) | (177006367) | (999834) | (9993778) | (26562859) | (279173481) | (3511921) | (36003559)  |
| Net Increase/(Decrease) | **(5509540)** | **$(56323409)** | **159677** | **$1648509** | **(17708829)** | **$(186509536)** | **(2382738)** | **$(24521700)**  |
| **Destinations Shelter Fund**<br>|  |  |  |  |  |  |  |  |
| Shares sold | 706319 | $8477493 | 15763 | $190873 | 787554 | $9101952 | 18043 | $203245  |
|  Shares issued on reinvestment | 7291 | 86538 | 361 | 4363 | 27724 | 321053 | 944 | 10762  |
| Shares repurchased | (1825371) | (22625117) | (57536) | (674608) | (2156683) | (24385545) | (41153) | (473000)  |
| Net Decrease | **(1111761)** | **$(14061086)** | **(41412)** | **$(479372)** | **(1341405)** | **$(14962540)** | **(22166)** | **$(258993)**  |
|  **Destinations Real Assets Fund**<br>|  |  |  |  |  |  |  |  |
| Shares sold | 32758979 | $79231054 | 3975479 | $8405730 | 144171965 | $322781590 | 12623123 | $25169195  |
|  Shares issued on reinvestment | 4327892 | 10560057 | 553136 | 1194774 | 342007 | 728474 | 30318 | 57605  |
| Shares repurchased | (39221498) | (93083626) | (2767698) | (5892513) | (11513282) | (25285541) | (768281) | (1496656)  |
| Net Increase/(Decrease) | **(2134627)** | **$(3292515)** | **1760917** | **$3707991** | **133000690** | **$298224523** | **11885160** | **$23730144** |

---

11. ReFlow Liquidity Program

The Funds may participate in one or more optional liquidity programs, which are designed to provide an alternative liquidity source for mutual funds when conducting normal business activities. Pursuant to the programs, a third-party purchases shares of a fund that settle the next business day and the fund has the ability to use incoming cash to meet net shareholder redemptions, as necessary. A Fund is not guaranteed to receive cash under the program on any given day. Following purchases of fund shares, the

375<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Notes to Financial Statements** 

**February 28, 2026(continued)** 

11. ReFlow Liquidity Program (continued)

third-party then generally expects to redeem those shares when the fund experiences net sales or at other times at the third-party's discretion, subject to the third-party's independent decision making. While the third-party holds fund shares, it will have the same rights and privileges with respect to those shares as any other shareholder. The third-party could redeem its entire share position in the Fund and may request that such redemption be met in-kind in accordance with the Fund's redemption in-kind policies.

For use of the liquidity program, a Fund may pay a fee to the third-party each time it purchases shares of such Fund. Fees associated with the use of the liquidity program are included within the miscellaneous expense on the Fund's Statement of Operations. Purchases of a Fund's shares through the liquidity program are made on an investment-blind basis without regard to such Fund's objective, policies, or anticipated performance. In accordance with federal securities laws, the third-party is prohibited from acquiring more than 3% of the outstanding voting securities of a Fund. The third-party will purchase shares of the Fund at net asset value and will not be subject to any investment minimum applicable to such shares.

The following table presents ReFlow activity during the year ended February 28, 2026:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Fund** | **Shares** <br>**Purchased** | **Value of** <br>**Shares** <br>**Purchased** | **Shares** <br>**Redeemed** | **Value of Cash** <br>**and Securities** <br>**Sold** | **In-kind Gain** <br>**of Securities** <br>**Sold**  |
| Destinations Large Cap Equity Fund | 53693304 | $592019076 | 54620666 | $604970990 | $312904442  |
| Destinations Small-Mid Cap Equity Fund | 10500383 | $98601380 | 10705497 | $101135356 | $37793414  |
| Destinations International Equity Fund | 12314008 | $157664602 | 12060823 | $154726613 | $45636197  |
| Destinations Equity Income Fund | 2458192 | $32544592 | 2458192 | $32546917 | $9682133 |

---

12. In-Kind Transactions

During the year ended February 28, 2026, Destinations Large Cap Equity Fund, Destinations Small-Mid Cap Equity Fund, Destinations International Equity Fund, Destinations Equity Income Fund, Destinations Multi Strategy Alternatives Fund and Destinations Real Assets Fund redeemed shares of beneficial interest in exchange for securities. These securities were transferred at their current value on the date of such transactions.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Fund** | **Transaction** <br>**Dates** | **Shares** <br>**Redeemed** | **Securities at** <br>**Value** | **Cash** | **Total** <br>**Assets** | **Realized** <br>**Gain**  |
|  Destinations Large Cap Equity Fund  | 27-Mar-25 | 6935271 | $100672073 | $2871520 | $103543593 | $82560055  |
|  Destinations Small-Mid Cap Equity Fund  | 27-Mar-25 | 1653804 | $14153873 | $548442 | $14702315 | $6623019  |
|  Destinations Equity Income Fund | 27-Mar-25 | 787402 | $9669564 | $322562 | $9992126 | $4845377  |
|  Destinations Large Cap Equity Fund | 9-May-25 | 7118644 | $102462082 | $3178596 | $105640678 | $75363624  |
|  Destinations Small-Mid Cap Equity Fund  | 9-May-25 | 2283105 | $19590839 | $660303 | $20251142 | $10367382  |
|  Destinations Equity Income Fund | 9-May-25 | 1117318 | $13534088 | $465912 | $14000000 | $2231625  |
|  Destinations Large Cap Equity Fund | 14-Aug-25 | 6257449 | $102636284 | $2676588 | $105312872 | $71827700  |
|  Destinations Small-Mid Cap Equity Fund  | 14-Aug-25 | 1998002 | $19316293 | $723667 | $20039960 | $11142552  |
|  Destinations International Equity Fund  | 14-Aug-25 | 2298851 | $29047811 | $1021155 | $30068966 | $11053498  |
|  Destinations Equity Income Fund | 14-Aug-25 | 1120239 | $14708574 | $381045 | $15089619 | $8357538  |
|  Destinations Large Cap Equity Fund  | 28-Jan-26 | 6650544 | $107288189 | $2645305 | $109933494 | $48015616  |
|  Destinations Small-Mid Cap Equity Fund  | 28-Jan-26 | 2614379 | $27374176 | $678112 | $28052288 | $16493266  |

---

376<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Notes to Financial Statements** 

**February 28, 2026(continued)** 

12. In-Kind Transactions (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Fund** | **Transaction** <br>**Dates** | **Shares** <br>**Redeemed** | **Securities at** <br>**Value** | **Cash** | **Total** <br>**Assets** | **Realized** <br>**Gain**  |
|  Destinations Equity Income Fund | 28-Jan-26 | 1315789 | $17388655 | $677134 | $18065789 | $8374159  |
| &nbsp;&nbsp;&nbsp; Destinations Real Assets <br>Fund  | 28-Jan-26 | 4214559 | $11048472 | $120110 | $11168582 | $5489540  |
|  Destinations Large Cap Equity Fund  | 26-Feb-26 | 3407683 | $53213278 | $2604566 | $55817844 | $22391605  |
|  Destinations Multi Strategy Alternatives Fund | 26-Feb-26 | 2534113 | $24760070 | $1265271 | $26025341 | $13080770 |

---

13. Dividend and Tax Components of Capital

The tax character of distributions paid during the fiscal year ended February 28, 2026, were as follows:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Destinations** <br>**Large Cap** <br>**Equity Fund** | **Destinations** <br>**Small-Mid** <br>**Cap Equity** <br>**Fund** | **Destinations** <br>**International** <br>**Equity Fund** | **Destinations** <br>**Equity** <br>**Income** <br>**Fund** | **Destinations** <br>**Core Fixed** <br>**Income** <br>**Fund** | **Destinations** <br>**Low** <br>**Duration** <br>**Fixed** <br>**Income** <br>**Fund** | **Destinations** <br>**Global Fixed** <br>**Income** <br>**Opportunities** <br>**Fund** | **Destinations** <br>**Municipal** <br>**Fixed** <br>**Income** <br>**Fund** | **Destinations** <br>**Multi** <br>**Strategy** <br>**Alternatives** <br>**Fund** | **Destinations** <br>**Shelter** <br>**Fund** | **Destinations** <br>**Real Assets** <br>**Fund**  |
| Distributions paid from:<br>|  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Tax Exempt | $— | $— | $— | $— | $— | $— | $— | $20042993  | $— | &nbsp;&nbsp; $— | $— |
| &nbsp;&nbsp;&nbsp; Ordinary Income | 24756914  | 11134739  | 55714749  | 13952362  | 61861602  | 17184768  | 46891687  | 84366  | 28093739  | &nbsp;&nbsp; 90901  | 11928072  |
| &nbsp;&nbsp;&nbsp; Net Long-term Capital Gains | 229329081  | 37104625  | 131460066  | 26898489  |  |  |  |  |  | &nbsp;&nbsp; — |  |
| &nbsp;&nbsp;&nbsp; Total Distributions <br>Paid | $254085995  | $48239364  | $187174815  | $40850851  | $61861602  | $17184768  | $46891687  | $20127359  | $28093739  | &nbsp;&nbsp; $90901  | $11928072 |

---

The tax character of distributions paid during the fiscal year ended February 28, 2025, were as follows:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Destinations** <br>**Large Cap** <br>**Equity Fund** | **Destinations** <br>**Small-Mid** <br>**Cap Equity** <br>**Fund** | **Destinations** <br>**International** <br>**Equity Fund** | **Destinations** <br>**Equity** <br>**Income** <br>**Fund** | **Destinations** <br>**Core Fixed** <br>**Income** <br>**Fund** | **Destinations** <br>**Low** <br>**Duration** <br>**Fixed** <br>**Income** <br>**Fund** | **Destinations** <br>**Global Fixed** <br>**Income** <br>**Opportunities** <br>**Fund** | **Destinations** <br>**Municipal** <br>**Fixed** <br>**Income** <br>**Fund** | **Destinations** <br>**Multi** <br>**Strategy** <br>**Alternatives** <br>**Fund** | **Destinations** <br>**Shelter** <br>**Fund** | **Destinations** <br>**Real Assets** <br>**Fund**  |
| Distributions paid from:<br>|  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Tax Exempt  | $— | $— | $— | $— | $— | $— | $— | $24279528 | $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $—  |
| &nbsp;&nbsp;&nbsp; Ordinary Income | 159616383 | 22389009 | 48824656 | 15614880 | 72934670 | 19778759 | 51394130 | 79046 | 41269853 | &nbsp;&nbsp; 331815 | &nbsp;&nbsp; 796639  |
| &nbsp;&nbsp;&nbsp; Net Long-term Capital Gains  | 403891774 | 37490316 | 20557104 |  |  |  |  |  |  | &nbsp;&nbsp; — | &nbsp;&nbsp; —  |
| &nbsp;&nbsp;&nbsp; Total Distributions <br>Paid  | $563508157 | $59879325 | $69381760 | $15614880 | $72934670 | $19778759 | $51394130 | $24358574 | $41269853 | &nbsp;&nbsp; $331815 | &nbsp;&nbsp; $796639 |

---

377<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Notes to Financial Statements** 

**February 28, 2026(continued)** 

13. Dividend and Tax Components of Capital (continued)

As of February 28, 2026, the components of accumulated earnings on a tax basis were as follows:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Destinations** <br>**Large Cap** <br>**Equity Fund** | **Destinations** <br>**Small-Mid** <br>**Cap Equity** <br>**Fund** | **Destinations** <br>**International** <br>**Equity Fund** | **Destinations** <br>**Equity** <br>**Income** <br>**Fund** | **Destinations** <br>**Core Fixed** <br>**Income** <br>**Fund** | **Destinations** <br>**Low** <br>**Duration** <br>**Fixed** <br>**Income** <br>**Fund** | **Destinations** <br>**Global Fixed** <br>**Income** <br>**Opportunities** <br>**Fund** | **Destinations** <br>**Municipal** <br>**Fixed** <br>**Income** <br>**Fund** | **Destinations** <br>**Multi** <br>**Strategy** <br>**Alternatives** <br>**Fund** | **Destinations** <br>**Shelter** <br>**Fund** | **Destinations** <br>**Real Assets** <br>**Fund**  |
|  Undistributed ordinary income – net  | $313409  | $2180174  | $11664855  | $3764850  | $1818634  | $3175578  | $9253172  | $—  | $5883945  | $—  | $5893066  |
|  Undistributed long-term capital gains – net | 59323545  | 16627454  | 69581159  | 13744966  | —  | —  | —  | —  | —  | —  | 3215828  |
|  Undistributed tax-exempt income – net |  |  |  |  |  |  |  | 1301075  |  |  |  |
|  Total Undistributed earnings | 59636954  | 18807628  | 81246014  | 17509816  | 1818634  | 3175578  | 9253172  | 1301075  | 5883945  | —  | 9108894  |
|  Capital Loss Carryforward |  |  |  |  | (239080091)  | (24717861)  | (49180265)  | (36982760)  | (1322041)  | (16926715) | —  |
|  Current Year Late Year Loss Deferral |  |  |  |  |  |  |  |  |  | (33439)  |  |
|  Unrealized appreciation (depreciation)<sup>(a)</sup> | 709228200  | 171486630  | 672006196  | 130251268  | (90385663)  | (7189946)  | (6068756)  | 7414153  | 1526096  | 41966708  | 66572284  |
|  Total accumulated earnings/(losses) – net | $768865154  | $190294258  | $753252210  | $147761084  | $(327647120)  | $(28732229)  | $(45995849)  | $(28267532)  | $6088000  | $25006554  | $75681178 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) The differences between book-basis and tax-basis
 unrealized appreciation (depreciation) is attributable to the tax deferral of losses on wash sales, tax cost adjustments related to partnerships,
 forwards, futures, ROC dividends received, real estate investments, foreign currency, the difference between book and tax amortization
 methods, and the realization for tax purposes of unrealized gains on investments in passive foreign investment companies.

**Reclassification: GAAP requires that certain components of net assets be reclassified to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or net asset value per share. During the current period, the following reclassifications have been made:** 

---

| | | |
|:---|:---|:---|
|  | **Total**<br>**distributable**<br>**earnings (losses)** | **Paid-in capital**  |
| Destinations Large Cap Equity Fund<sup>(a)</sup> | $(632454244)  | $632454244  |
| Destinations Small-Mid Cap Equity Fund<sup>(a)</sup> | (86297257)  | 86297257  |
| Destinations International Equity Fund<sup>(a)</sup>  | (65126958)  | 65126958  |
| Destinations Equity Income Fund<sup>(a)</sup> | (34439847)  | 34439847  |
| Destinations Global Fixed Income Opportunities<sup>(a)</sup> | (5)  | 5  |
| Destinations Multi Strategy Alternatives Fund<sup>(a)</sup>  | (12853132)  | 12853132  |
| Destinations Shelter Fund<sup>(b)</sup>  | 12002  | (12002)  |
| Destinations Real Assets Fund<sup>(a)</sup> | (5965607)  | 5965607 |

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&nbsp;&nbsp;&nbsp;&nbsp;(a) Reclassifications are due to permanent differences
 primarily related to redemptions in-kind.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Reclassifications are due to permanent differences
 primarily from net operating losses.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

14. Capital Loss Carry Forward

As of February 28, 2026, the Funds had the following net capital loss carryforwards remaining:

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| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Year of Expiration** | **Destinations** <br>**Large Cap** <br>**Equity Fund** | **Destinations** <br>**Small-Mid** <br>**Cap Equity** <br>**Fund** | **Destinations** <br>**International** <br>**Equity Fund** | **Destinations** <br>**Equity** <br>**Income** <br>**Fund** | **Destinations** <br>**Core Fixed** <br>**Income** <br>**Fund** | **Destinations** <br>**Low** <br>**Duration** <br>**Fixed** <br>**Income** <br>**Fund** | **Destinations** <br>**Global Fixed** <br>**Income** <br>**Opportunities** <br>**Fund** | **Destinations** <br>**Municipal** <br>**Fixed** <br>**Income** <br>**Fund** | **Destinations** <br>**Multi** <br>**Strategy** <br>**Alternatives** <br>**Fund** | **Destinations** <br>**Shelter** <br>**Fund** | **Destinations** <br>**Real Assets** <br>**Fund**  |
| Short-Term  | $— | $— | $— | $— | $92159603  | $7301183  | $—  | $8699175  | $1322041  | $9633578  | $—  |
| Long-Term |  |  |  |  | 146920488  | 17416678  | 49180265  | 28283585  | —  | 7293137  | —  |
|  | $— | $— | $— | $— | $239080091  | $24717861  | $49180265  | $36982760  | $1322041  | $16926715  | $— |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

15. Subsequent Events

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

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**Report of Independent Registered Public Accounting Firm** 

To the Shareholders of the Funds and Board of Trustees

Brinker Capital Destinations Trust:

**Opinion on the Financial Statements**

We have audited the accompanying statements of assets and liabilities of Brinker Capital Destinations Trust, comprised of the 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, Destinations Shelter Fund, and Destinations Real Assets Fund (collectively, the Funds), including the schedules of investments, as of February 28, 2026, the related statements of operations for the year then ended, the statements of changes in net assets for each of the years or periods in the two-year period then ended, and the related notes (collectively, the financial statements) and the financial highlights for each of the years or periods in the four-year period then ended. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Funds as of February 28, 2026, the results of their operations for the year then ended, the changes in their net assets for each of the years or periods in the two-year period then ended, and the financial highlights for each of the years or periods in the four-year period then ended, in conformity with U.S. generally accepted accounting principles. The financial highlights for the year ended February 28, 2022 were audited by other independent registered public accountants whose report, dated April 29, 2022, expressed an unqualified opinion on those financial highlights.

**Basis for Opinion** 

These financial statements and financial highlights are the responsibility of the Funds' management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Such procedures also included confirmation of securities owned as of February 28, 2026, by correspondence with the custodian, agent banks and brokers; when replies were not received from agent banks and brokers, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. We believe that our audits provide a reasonable basis for our opinion.

/s/ KPMG LLP

We have served as the auditor of one or more Brinker Capital Destinations Trust investment companies since 2022.

Philadelphia, Pennsylvania

April 27, 2026

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

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

Section 15 of the Investment Company Act of 1940, as amended (the "Investment Company Act") requires that the initial approval of a Fund's investment advisory agreement be specifically approved by the vote of a majority of the outstanding shareholders of the Fund and the vote of a majority of the Trustees who are not "interested persons" (as defined in the Investment Company Act) of any party to the Agreements (the "Independent Trustees") cast in person (or otherwise, as consistent with applicable laws, regulations and related guidance and relief) at a meeting called for such purpose. In addition, the Investment Company Act requires that the continuation or renewal of any investment advisory agreement be approved at least annually (after an initial period of up to two years), which requires the vote of a majority of the Board of Trustees (the "Board"), including a majority of the Independent Trustees. In the case of the initial approval of a Sub-Advisory Agreement, only the approval of a majority of the Board, including a majority of the Independent Trustees, is required because of an exemptive order that was granted to the Trust by the U.S. Securities and Exchange Commission ("SEC"). In addition, as a result of the impact of the coronavirus and COVID-19 pandemic, the SEC issued three Orders in 2020 that conditionally exempt registered investment companies and their investment advisers, as well as principal underwriters from in-person voting requirements. The relief provided by those Orders has not yet been withdrawn by the SEC Staff, and the Trust remains able to rely on that relief under certain circumstances.

**Board Considerations of the Advisory Agreement** 

At the December 9-10, 2025, meeting of the Board (the "December Meeting"), the Board, including a majority of the Independent Trustees, approved the renewal of the Advisory Agreement between the Adviser and the Trust for an additional one-year period. The Board considered the performance of the Adviser in delivering services to the Funds under the Advisory Agreement throughout the year, including, specifically in the context of assessing whether to renew the Advisory Agreement, at a Governance Committee meeting held on November 21, 2025 and at the December Meeting. Throughout the course of the year, and particularly during the November 2025 Governance Committee meeting and December Meeting, the Board requested and received information from the Adviser that they deemed reasonably necessary for their review of the Advisory Agreement and the performance of the Adviser thereunder. Additionally, the Board received a memorandum from counsel regarding the responsibilities of the Board in connection with its consideration of whether to renew the Trust's Advisory Agreement. The Board was also assisted in its review by both Fund counsel and Board counsel and met in an executive session separate from representatives of the Adviser.

**Nature, Extent and Quality of the Adviser's Advisory Services** 

The Board considered the nature, extent and quality of the advisory services that the Adviser has provided and will continue to provide to the Funds, and the resources dedicated to the Funds. In this regard, the Board evaluated, among other things, the Adviser's personnel, experience and track record. The Board considered the terms of the Advisory Agreements and the range of services provided by the Adviser. The Board also evaluated the Adviser's ongoing oversight of the Sub-Advisers, which includes continuous analysis of, and regular discussions with each Sub-Adviser about, among other things, the investment strategies, performance and trading operations of the portion of a Fund's assets managed by a particular Sub-Adviser, and periodic on-site or virtual and other meetings with the Sub-Advisers. In addition, the Board considered the Adviser's ongoing assessment of the durability and financial condition of the Sub-Advisers. The Board also took into account the Adviser's oversight of the Funds' operations and the Funds' other service providers. Following evaluation, the Board concluded that, within the context of its full deliberations, the nature, extent and quality of services provided by the Adviser to the Funds and the resources of the Adviser to the Funds were sufficient to support the renewal of the Advisory Agreement. Additionally, the Board reviewed information received from the Adviser and the Trust's Chief Compliance Officer regarding the Trust's compliance policies and procedures established pursuant to Rule 38a-1 under the Investment Company Act and those of the Adviser.

**Performance** 

In determining whether to renew the Advisory Agreement, the Board considered the performance of the Adviser in selecting and evaluating Sub-Advisers, allocating Fund assets among Sub-Advisers, and determining relative passive- and active-investment exposures within the Funds. The Board also considered the Funds' performance relative to their peer groups and appropriate

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indexes/benchmarks. The Board reviewed performance information for each Fund, noting that they receive performance reports that permit them to monitor each Fund's performance at Board meetings throughout the year. Based on the materials considered and discussed at the meetings, the Board found Fund performance satisfactory, or, where performance was significantly below the benchmark and/or peer group, the Board was satisfied with the reasons provided to explain such performance. Following evaluation, the Board concluded that, within the context of its full deliberations, the performance of the Funds was sufficient to support the renewal of the Advisory Agreement.

**Management Fees and Expense Ratios** 

As to each Fund, the Board reviewed and considered the management fees payable by the Fund to the Adviser in light of the nature, extent and quality of the advisory services provided by the Adviser. The Board also reviewed and considered the fee waivers and/or expense reimbursement arrangements in place for the Funds and considered the actual fee rate (after taking any such waivers and reimbursements into account), and whether any fee waivers and expense reimbursements could be discontinued. Further, the Board considered that, as a result of the contractual advisory fee waivers, the total amount of advisory fees that may be retained by the Adviser is limited to 44.4 basis points of each Fund's assets. The Board also reviewed with management the scope of services provided to the Funds by the Adviser and that the Adviser coordinates and oversees the provision of services to each Fund by other fund service providers, including the Sub-Advisers. Additionally, the Board received and considered information comparing each Funds' advisory fees with those of a group of funds selected by Broadridge.

The Board determined, in the context of its full deliberations, that, as to each Fund, the advisory fees paid by the Fund to the Adviser, taking into effect the impact of the proposed changes to the contractual fee waivers going forward, are reasonable in light of comparative performance and expense information and the nature, extent and quality of the services provided to the Fund under the Agreements.

**Profitability** 

The Board considered the profits realized by the Adviser in connection with the operation of the Funds, and whether the amount of profit was a fair entrepreneurial profit for the management of the Funds. In particular, the Board considered that the Adviser retains a limited amount of compensation (as a percentage of Fund assets) from each Fund as a result of the contractual fee waivers. The Board also considered the profitability of the Adviser for providing advisory services to the Funds as an overall complex, noting that the Adviser implemented its model-based investment advice through allocations of assets among the Funds and that, because of the investor base of the Funds, the amount of compensation paid to the Adviser must be equal across each Fund such that the Adviser does not have an incentive to favor allocating client assets to one Fund over another Fund. As to each Fund, the Board concluded, in the context of its full deliberations, that the Adviser's level of profitability was reasonable and supported renewal of the Advisory Agreement.

**Economies of Scale** 

As to each Fund, the Board considered information regarding whether there have been economies of scale with respect to the management of the Fund, whether the Fund has appropriately benefited from any economies of scale and whether there is potential for realization of any further economies of scale. The Board considered the various ways economies of scale could be realized and shared with Fund investors, and whether economies of scale in the provision of services to the Fund were being passed along to the shareholders. As to each Fund, the Board also noted that to the extent the Fund's assets increase over time, the Fund and its shareholders should realize economies of scale as certain expenses, such as fixed fund fees, become a smaller percentage of overall assets. In assessing the potential for economies of scale, the Board also took into account current and recent trends in Fund inflows and outflows, as well as recent market trends for mutual funds overall.

**Other Benefits to the Adviser** 

As to each Fund, the Board considered other benefits received or that could be expected to be received by the Adviser and its affiliates as a result of their relationship with the Funds, including soft dollar arrangements, receipt of brokerage and the opportunity to offer additional products and services to Fund shareholders. In light of the Adviser's costs of providing investment management and other services to the Funds and the Adviser's ongoing commitment to the Funds and each Sub-Adviser's day-to-day management of the portion of the respective Fund's assets allocated to it, the Board determined that the profits and ancillary benefits that the Adviser and its affiliates receive through their management of the Funds are reasonable.

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**Board Considerations of the Sub-Advisory Agreements** 

During the period covered by this Annual Report, the Board considered the renewal of certain Sub-Advisory Agreements with existing Sub-Advisers and the approval of new Sub-Advisory Agreements. In particular, at a meeting of the Board held on September 9-10, 2025 (the "September Meeting"), the Adviser recommended and the Board, including all of the Independent Trustees, approved a new Sub-Advisory Agreement for the management of the Destinations Real Assets Fund by Nomura Investments Fund Advisers ("NIFA"), a series of Nomura Investment Management Business Trust ("NIMBT"). Previously, Delaware Investments Funds Advisers ("DFIA"), a series of Macquarie Investment Management Business Trust, served as a Sub-Adviser to the Destinations Real Assets Fund. The approval of NIFA was in anticipation of Nomura Holdings America Inc. acquiring Macquarie Asset Management's U.S. and European public investments business, which included DIFA and resulted in a change of control in DIFA and, as result of the change of control, in the automatic termination of the Sub-Advisory Agreement between the Adviser and DIFA.

Also at the September Meeting, the Adviser recommended and the Board, including all of the Independent Trustees, approved the renewal of the existing Sub-Advisory Agreements for the management of the: (i) Destinations Small-Mid Cap Equity Fund by Ceredex Value Advisors LLC, Driehaus Capital Management, LLC ("Driehaus") and Leeward Investments, LLC; (ii) Destinations Equity Income Fund by Federated Equity Management Company of Pennsylvania, Neuberger Berman Investment Advisors, LLC and Nuveen Asset Management; and (iii) Destinations Multi Strategy Alternatives Fund by Driehaus and LMCG Investments, LLC.

Further, at a meeting of the Board held on December 9-10, 2025 (the "December Meeting"), the Adviser recommended and the Board, including all of the Independent Trustees, approved a new Sub-Advisory Agreement for the management of the Destinations Multi Strategy Alternatives Fund by Numeric Investors LLC ("Numeric"). Also at the December Meeting, the Adviser recommended and the Board, including all of the Independent Trustees, approved the renewal of the existing Sub-Advisory Agreements for the management of the: (i) Destinations Core Fixed Income Fund by DoubleLine Capital LP ("DoubleLine"), Merganser Capital Management LLC and Wellington Capital Management Capital LLP; (ii) Destinations Low Duration Fixed Income Fund by CrossingBridge Advisors, LLC ("CrossingBridge") and DoubleLine; (iii) Destinations Global Fixed Income Opportunities Fund by CrossingBridge, DoubleLine, GLG Partners, LP and Numeric Investors LLC; and (iv) Destinations Municipal Fixed Income Fund by Lord, Abbett & Co. LLC, Northern Trust Investments, Inc. and Seix Investment Advisers.

For these meetings, the Board requested and received information from the Adviser and the Sub-Advisers that it deemed reasonably necessary for its review of the Sub-Advisory Agreements and to evaluate the relevant performance of each Sub-Adviser, with respect to the Funds. This information was provided in addition to the detailed information about the Funds that the Board reviews during the course of each year, including information that relates to Fund operations and Fund performance. Finally, the Independent Trustees received advice from independent counsel to the Independent Trustees, met in executive sessions outside the presence of Fund management and participated in question and answer sessions with representatives of the Adviser and the Sub-Advisers.

Specifically, during the course of the Trust's fiscal year, the Board requested and received written materials from the Adviser and the Sub-Advisers regarding: (i) the quality of the Sub-Advisers' investment management and other services; (ii) the Sub-Advisers' investment management personnel; (iii) the Sub-Advisers' operations and financial condition; (iv) the Sub-Advisers' brokerage practices (including any soft dollar arrangements) and investment strategies; (v) the level of the sub-advisory fees that the Adviser pays the Sub-Advisers, compared with fees charged to comparable accounts; (vi) the Sub-Advisers' profitability; (vii) the Sub-Advisers' compliance program, including a description of material compliance matters and material compliance violations; (viii) the Sub-Advisers' expertise and resources in domestic and/or international financial markets; and (ix) the Funds' performance over various periods of time compared with peer groups of mutual funds or the Funds' benchmark indexes.

In voting to renew or approve the Sub-Advisory Agreements, as applicable, the Board considered whether the renewal or the approval of the Sub-Advisory Agreements would be in the best interests of the respective Fund and its shareholders, including an evaluation based on several factors, some of which are listed below.

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

The Board received and considered information regarding the nature, extent and quality of services that will continue to be provided (or will be provided) to the Funds by the Sub-Advisers under the Sub-Advisory Agreements. The Board considered information regarding the process by which the Adviser selected and recommended the Sub-Advisers to the Board for renewal or approval, and the supervisory activities over the Sub-Advisers performed by the Adviser, including monitoring the Sub-Advisers' compliance with the investment objectives, policies, and restrictions of the allocated assets of each applicable Fund. The Board considered the Sub-Advisers' specific responsibilities in all aspects of the day-to-day management of the portion of the Funds'

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assets allocated to them, as well as the qualifications, experience and responsibilities of the persons serving as the portfolio managers for the Funds' assets to be managed by the Sub-Adviser and of other key personnel of the Sub-Adviser. The Board discussed the terms of the Sub-Advisory Agreements and considered the Adviser's favorable assessment of the nature and quality of the Sub-Advisers' services expected to continue to be provided (or expected to be provided) to the Funds. The Board also reviewed information received from the Sub-Adviser regarding each Sub-Adviser compliance policies and procedures established pursuant to Rule 38a-1 under the Investment Company Act.

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

**Performance** 

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

**Management Fees and Expense Ratios** 

As to each Fund, the Board noted that it had reviewed and considered at the September 2025 Board Meeting, November 2025 Governance Committee meeting and the December 2025 Board Meeting, and in conversations at meetings throughout the year, the contractual management fees payable by the Adviser to the Sub-Advisers in light of the nature, extent and quality of the sub-advisory services provided by the Sub-Advisers. The Board also reviewed and considered whether any fee waiver and/or expense reimbursement arrangements were in place for a Fund and considered the actual fee rate (after taking any such waivers and reimbursements into account) ("Actual Management Fee"), noting in particular the existence of an ongoing contractual fee waiver that limits the total amount of advisory fees that may be retained by the Adviser to 44.4 basis points of each Fund's assets. The Board noted that the sub-advisory fees were the product of arms-length negotiations between the Adviser and each Sub-Adviser, whereby the Adviser has no incentive to not vigorously negotiate the sub-advisory fees, given that the Adviser is required to retain a level fee across the Funds and is not permitted to increase the total advisory fee without a shareholder vote, and given that a lower total advisory fee will make the Funds more competitive in the marketplace, generally. The Board also noted that the Actual Management Fee for each of the Funds was lower than the contractual management fee. Additionally, the Board considered and discussed information about the Sub-Advisers' fees and comparable information for other sub-advised funds and accounts managed by the Sub-Advisers.

**Profitability** 

For certain Sub-Advisers, the Board considered whether the levels of compensation and profitability realized by each Sub-Adviser were reasonable in connection with its management of the Funds. For other Sub-Advisers, that were unwilling to provide account-specific profitability due to confidentiality concerns, the Board determined that the absence of such information was not determinative to the Board's decision to renew or approve the Sub-Advisory Agreement. Further, in those cases where Sub-Advisers were willing and able to provide account-specific profitability information, the Board took into consideration that calculating an investment adviser's performance on the basis of a single account (in particular a single sub-advised account) may not be an accurate reflection of the profitability of that investment adviser at the firm level or at the level of an investment strategy. As with the fee levels, when considering the profitability of the Sub-Advisers, the Board took into account the fact that compensation with respect to each Sub-Adviser reflects an arms-length negotiation between the Sub-Adviser and the Adviser.

**Economies of Scale** 

As to each Sub-Advisory Agreement, the Board considered and discussed whether the size of the assets allocated to the Sub-Adviser and, if applicable, the size of the Sub-Adviser's investment strategy as a whole, warranted consideration of whether sufficient economies of scale could be realized by the Sub-Adviser with respect to its management of the Fund, such that the

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implementation of a breakpoint fee or a fee reduction might be appropriate. As part of this assessment, the Board took into consideration inflow and outflow trends across the Fund complex, in general, in recent years, as well as recent market trends for mutual funds overall. As to each Fund, the Board also noted that to the extent the Fund's assets increase over time, the Fund and its shareholders, in general, should realize economies of scale as certain expenses, such as fixed fees, become a smaller percentage of overall assets.

**Other Benefits** 

As to each Fund, the Board considered other benefits received or that could be expected to be received by each Sub-Adviser and its affiliates as a result of their relationship with the Funds, including soft dollar arrangements, receipt of brokerage, the opportunity to offer additional products and services to Fund shareholders, or other benefits that could accrue to the Sub-Advisers in terms of increased visibility or reputation within the industry (so-called "fall-out benefits"). In light of each Sub-Adviser's day-to-day management of the portion of the respective Fund's assets allocated to it, the Board determined that any such ancillary benefits that the Sub-Adviser and its affiliates receive through their management of the Funds are reasonable.

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

**Distributor Approval** 

At the December Meeting, the Board, including a majority of the Independent Trustees approved a renewal of the distribution agreement between the Funds and Foreside Fund Services, LLC ("Foreside").

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**Additional Information (unaudited)** 

**TRUSTEES AND OFFICERS OF THE TRUST** 

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

Orion Portfolio Solutions, LLC d.b.a. Brinker Capital Investments (the "Adviser"), serves as the investment adviser for the Funds. The Funds employ a "multi-manager" strategy. The Adviser selects and oversees professional money managers (each a "Sub-adviser") who are responsible for investing the assets of the Funds allocated to them. In addition to investment advisory services, the Adviser monitors and supervises the services provided to the Trust by its administrator. The Adviser also is responsible for conducting all operations of the Trust, except those operations contracted to the Sub-advisers, the custodian, the transfer agent and the administrator.

The names of the Trustees and officers of the Trust, their addresses, and years of birth, together with information as to their principal business occupations and, for the Trustees, other board memberships they have held during the past five years, are set forth below. There is no stated term of office for the Trustees of the Trust. However, a Trustee must retire from the Board by the end of the calendar year in which the Trustee turns 80. Unless otherwise noted, the business address of each Trustee is 1055 Westlakes Drive, Suite 250, Berwyn, PA 19312.

The executive officers of the Trust are employees of organizations that provide services to the Funds. Unless otherwise noted, the business address of each officer is 1055 Westlakes Drive, Suite 250, Berwyn, PA 19312.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name, Address and** <br>**Date of Birth** | **Position(s)** <br>**Held with**<br>**Trust** | **Term of** <br>**Office and** <br>**Length of**<br>**Time Served\*** | **Principal Occupation(s) During** <br> **Past Five Years** | **Number of** <br>**Funds** <br>**in Fund** <br>**Complex** <br>**Overseen**<br>**by Trustee** | **Other Board Memberships** <br>**Held During Past Five Years** <br>**by Trustee**  |
| **INDEPENDENT TRUSTEES\***  | **INDEPENDENT TRUSTEES\***  | **INDEPENDENT TRUSTEES\***  | **INDEPENDENT TRUSTEES\***  | **INDEPENDENT TRUSTEES\***  | **INDEPENDENT TRUSTEES\***  |
| J. Scott Coleman, CFA<br>Birth Year: 1960 | Trustee | Since 2017 | President and Managing Partner of Woodland Park Consulting, LLC since 2017.<br>President and CEO of<br>Optimum Fund Trust from<br>2011 to 2015. President of<br>Delaware Distributors from<br>2008 to 2015. Executive<br>Vice President, Head of<br>Distribution and Marketing,<br>Delaware Investments 2008<br>to 2015. In addition, Head<br>of Macquarie Investment<br>Management EMEA<br>Distribution from 2012 to<br>2015. Managing Director at<br>Goldman Sachs & Co. from<br>2001 to 2008. | 11 | Osterweis Capital Management since May 2022, Optimum Fund Trust from 2011 to 2015.  |
| Nicholas Marsini, Jr.<br>Birth Year: 1955 | Trustee, Chair<br>of Audit Committee | Since 2017 | Retired since 2016. Regional President of PNC Delaware from 2011 to 2016. Executive Vice President and Chief<br>Financial Officer of PNC Global Investment Servicing from 1997 to 2010. | 11 | FundVantage Trust, Third Avenue Trust, Third Avenue Variable Series Trust, Polen Credit Opportunities Fund and Sidara Group (advisory board).  |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name, Address and** <br>**Date of Birth** | **Position(s)** <br>**Held with**<br>**Trust** | **Term of** <br>**Office and** <br>**Length of**<br>**Time Served\*** | **Principal Occupation(s) During** <br> **Past Five Years** | **Number of** <br>**Funds** <br>**in Fund** <br>**Complex** <br>**Overseen**<br>**by Trustee** | **Other Board Memberships** <br>**Held During Past Five Years** <br>**by Trustee**  |
| Gregory E. McGowan<br>Birth Year: 1949 | Trustee | Since 2017 | President and CEO, GEMPENN Global Consultancy, Inc. since 2016. Senior Strategic Advisor, Franklin Templeton Investments in 2016. Executive Vice President, Director and General Counsel of Templeton International, Inc. from 1992 to 2016. Executive Vice President, Secretary and General Counsel of Templeton Global Advisors Limited (a Bahamian corporation) from 1992 to 2016. | 11 | Lifestar Holdings (Formerly Global Capital PLC a Malta Public Company), Franklin Templeton Sealand Fund Management Co. Ltd., China Life Franklin Asset Management Company Limited, Templeton Investment Counsel LLC, Franklin Templeton Trustee Services Private Limited (India), Franklin Templeton International Services S.A. (Luxembourg), Franklin Templeton Investments (Asia) Limited, Franklin Templeton Investments Japan Ltd., Templeton Asset Management Ltd. (Singapore), Franklin Templeton Holding Limited (Mauritius), Franklin Templeton Investment Services<br>Mexico, S. de R. L., Templeton Global Growth Fund Ltd (Australia), Franklin Liberty Shares ICAV (Ireland), Franklin Emerging Markets Debt Fund PLC (Ireland), Franklin Floating Rate Fund PLC (Ireland), The Dar Group (sub-advisory board), Hammerspace Inc. (sub-advisory board). |

---

<sup>\*</sup> Each Trustee remains in office until he or she resigns, retires or is removed.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name, Address and Date of Birth** | **Position(s)**<br>**Held with** <br>**Trust** | **Term of** <br>**Office and** <br>**Length of** <br>**Time Served\*** | **Principal Occupation(s) During** <br>**Past Five Years** | **Number of**<br>**Funds** <br>**in Fund** <br>**Complex** <br>**Overseen** <br>**by Trustee** | **Other Board Memberships** <br>**Held During Past Five Years** <br>**by Trustee**  |
| **INTERESTED TRUSTEES\***  | **INTERESTED TRUSTEES\***  | **INTERESTED TRUSTEES\***  | **INTERESTED TRUSTEES\***  | **INTERESTED TRUSTEES\***  | **INTERESTED TRUSTEES\***  |
| Joseph V. Del Raso\*\*<br>Birth Year: 1952 | Trustee | Since 2017 (Chair of the Board until April 1, 2018). | Partner at Troutman Pepper Hamilton LLP (law firm) since 1998. | 11 | Lifestar Holdings (Formerly Global Capital PLC a Malta Public Company).  |
| Noreen D. Beaman<br>Birth Year: 1964 | Chair of the Board of Trustees  | Since 2018 | Executive Coach at East Bay Merchant Partners since 2023. President of Brinker Capital Investments, LLC from 2020 until 2022. Chief Executive Officer of Brinker Capital, Inc. from 2012 to 2020. President of Brinker Capital Holdings, LLC from 2020 to 2022. President and CEO of Brinker Capital Securities, LLC from 2014 to 2022. President of Orion Advisor Solutions, Inc. from 2021 to 2022 (EVP in 2020). President of Orion Advisor Technology, LLC from 2021 to 2022 (EVP in 2020). President of Orion Portfolio Solutions, LLC from 2021 to 2022. | 11 | Advisory Council to the Adviser since 2025. Board of Directors/Managers for following entities from 2020 to 2025 and Vice Chair from 2022 to 2025: GT Polaris GP, LLC, GT Polaris Holdings, Inc., GT Polaris Midco, Inc., Orion Advisor Solutions, Inc., Commonwealth Financial Network, Advisory Board from May 2023 to May 2025. |

---

<sup>\*</sup> Each Trustee remains in office until he or she resigns, retires or is removed.

---

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

---

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---

| | | | |
|:---|:---|:---|:---|
| **Name, Address and Date of Birth** | **Position(s)** <br>**Held with Trust** | **Term of Office and**<br>**Length of Time Served** | **Principal Occupation(s)** <br>**During Past Five Years**  |
| **OFFICERS\*\*\*** |  |  |  |
| Brian Ferko<br>Birth Year: 1971 | President & Chief Operating Officer  | Since March 2024 and September 2023 <br>respectively | Chief Compliance Officer of Brinker Capital Investments from 2015 to 2023; Chief Compliance Officer of Brinker Capital Investments, LLC contracted through Cipperman Compliance Services from 2010 to 2015; Chief Operating Officer of Cipperman Compliance Services from 2012 to 2015.  |
| Kevin Fustos <br>Birth Year: 1980 | Chief Financial Officer & Treasurer | Since December 2020 | Vice President of Financial Planning and Analysis, Orion Advisor Solutions, since 2016; Omaha Public Power District from 2004 to 2016.  |
| Peter Townsend<br>Birth Year: 1977 | Secretary,<br>Chief Compliance Officer &<br>Anti Money Laundering Officer | Since January 2017 and March 2024 respectively | Deputy Funds Chief Compliance Officer of Brinker Capital Investments since 2017; Director of Compliance of Penn Capital Management Company, Inc. from 2015 to 2017; Director of Compliance of Cipperman Compliance Services from 2013 to 2015; Associate of J.P. Morgan Chase & Co. from 2008 to 2013.  |
| Toni Gretsky, IACCP<sup>®</sup> <br>Birth Year: 1976 | Assistant Secretary | Since June 2024 | Senior Compliance and Fund Operations Manager of Brinker Capital Investments since 2023; Senior Compliance Associate at Orion Portfolio Solutions from 2020-2023; Compliance Coordinator at Brinker Capital from 2008-2020: Administrative Assistant/Supervisor for Brinker Capital from 2004-2008.  |
| Kylee Beach<br>Birth Year: 1984 | Assistant Secretary | Since March 2024 | General Counsel and Secretary, Orion Advisor Solutions, Inc., since 2019; Orion Advisor Technology, LLC, since 2014; Brinker Capital Investments, since 2020 and also General Counsel for CLS Investments, LLC, now part of Brinker Capital Investments, LLC, since 2014; GT Polaris Holdings Inc., since 2020; GT Polaris Midco, Inc., since 2020; Brinker Capital Securities, LLC, since 2020; Advizr, Inc., since 2019; Orion Portfolio Solutions, LLC, since 2018; BasisCode Compliance, LLC, since 2021; Redtail Technology Inc., since 2022; TownSquare Capital, LLC, since 2022; Associate General Counsel, NorthStar Financial Services Group, LLC from 2012 to 2018.  |

---

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| | | | |
|:---|:---|:---|:---|
| **Name, Address and Date of Birth** | **Position(s)** <br>**Held with Trust** | **Term of Office and**<br>**Length of Time Served** | **Principal Occupation(s)** <br>**During Past Five Years**  |
| Brian Storey, CFA<br>Birth Year: 1974 | Investment Officer | Since June 2022 | Head of Multi-Asset Strategies at Brinker Capital Investments since 2024; Deputy Chief Investment Officer - Destinations Portfolios at Brinker Capital Investments from 2023 to 2024; Senior Portfolio Manager at Brinker Capital Investments from 2022 to 2023; Senior Vice President and Senior Portfolio Manager at First Citizens Bank & Trust from 2016 to 2021.  |
| Andrew Goins, CFA <br>Birth Year: 1984 | Investment Officer | Since June 2023 | Senior Portfolio Manager at Brinker Capital Investments since 2023; Director of SMA and Mutual Fund Due Diligence at Brinker Capital Investments from 2021 to 2023; Investment Manager at Brinker Capital Investments from 2015 to 2021.  |
| Timothy Holland, CFA <br>Birth Year: 1969 | Investment Officer | Since June 2022 | Chief Investment Officer of Brinker Capital Investments since September 2024 and from 2020 to 2023; Chief Investment Officer of TownSquare Capital, LLC, an Orion Company, since 2023; Portfolio Manager of Brinker Capital Investments since 2017; Senior Vice President and Global Investment Strategist of Brinker Capital Investments, LLC from 2017 to 2020; Co-Head US Sub Advisory of Pictet Asset Management in 2016; Portfolio Manager and Partner of TAMRO Capital Partners from 2005 to 2016.  |
| Patrick Amerson <br>Birth Year: 1994 | Investment Officer | Since December 2021 | Investment Analyst at Brinker Capital Investments since 2021; Client Service Representative at Brinker Capital Investments, LLC from 2019 to 2021; Operations Associate at Brinker Capital Investments, LLC from 2017-2019. |

---

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

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**Important Tax Information (unaudited)** 

The following information is provided with respect to the distributions paid during the taxable year ended February 28, 2026:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Destinations** <br>**Large Cap**<br>**Equity Fund** | **Destinations**<br>**Small-Mid Cap**<br>**Equity Fund** | **Destinations**<br>**International**<br>**Equity Fund** | **Destinations**<br>**Equity Income**<br>**Fund** | **Destinations**<br>**Core Fixed Income**<br>**Fund**  |
| Ordinary Income:<br>|  |  |  |  |  |
| Qualified Dividend Income for Individuals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 27.66% | 74.98% | &nbsp;&nbsp;&nbsp;&nbsp; 100% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —  |
| &nbsp;&nbsp;&nbsp; Dividends Qualifying for the Dividends Received <br>Deduction for Corporations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 27.59% | 5.51% | &nbsp;&nbsp;&nbsp;&nbsp; 61.90% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —  |
| Foreign Taxes Paid | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | $6170025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —  |
| Foreign Source Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | $52778697 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —  |
| Foreign Tax Paid Per Share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | 0.05 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —  |
| Foreign Source Income Per Share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | 0.39 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Destinations** <br>**Low Duration** <br>**Fixed Income** <br>**Fund** | **Destinations** <br>**Global Fixed** <br>**Income** <br>**Opportunities Fund** | **Destinations** <br>**Municipal** <br>**Fixed Income** <br>**Fund** | **Destinations** <br>**Multi Strategy** <br>**Alternatives** <br>**Fund** | **Destinations** <br>**Shelter Fund** | **Destinations** <br>**Real Assets** <br>**Fund**  |
| Ordinary Income:<br>|  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Qualified Dividend Income for<br>Individuals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14.72% | &nbsp;&nbsp;&nbsp; 100.00% | &nbsp;&nbsp;&nbsp; 65.05%  |
| &nbsp;&nbsp;&nbsp; Dividends Qualifying for the<br>Dividends Received<br>Deduction for Corporations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14.92% | &nbsp;&nbsp;&nbsp; 100.00% | &nbsp;&nbsp;&nbsp; 24.98%  |
| &nbsp;&nbsp;&nbsp; Interest from Tax-Exempt<br>Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 99.58% | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; —  |
| Long-Term Capital Gain Dividend | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |

---

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![](brinker_logo_efp-18167.jpg)

Brinker Capital Destinations Trust

**Investment Adviser** 

**Orion Portfolio Solutions, LLC d.b.a. Brinker Capital Investments** 

**1055 Westlakes Drive, Suite 250** 

**Berwyn, PA 19312** 

**www.brinkercapital.com**

**Distributor** 

**Foreside Fund Services, LLC** 

**Three Canal Plaza, Suite 100** 

**Portland, ME 04101** 

**www.foreside.com**

**Legal Counsel** 

**Morgan, Lewis & Bockius LLP** 

**2222 Market Street** 

**Philadelphia, PA 19103-3007** 

**www.morganlewis.com**

**Independent Registered Public Accounting Firm** 

**KPMG LLP** 

**1735 Market Street** 

**Philadelphia, PA 19103** 

**www.kpmg.us**

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

Visit <u>www.destinationsfunds.com</u> for more information.

DSA_AR

**Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.** 

There were no changes in and/or disagreements with Accountants during the period covered by this report.

**Item 9. Proxy Disclosures for Open-End Management Companies.** 

There were no matters submitted to a vote of shareholders during the period covered by this report.

**Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Companies.** 

The aggregate renumeration paid to all Trustees and Officers is included within the financial statements under Item 7 of this Form N-CSR.

**Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.** 

The basis for approval of the Investment Advisory Contracts is included within the financial statements under Item 7 of this Form N-CSR.

**Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.**

Not applicable.

**Item 13. Portfolio Managers of Closed-End Management Investment Companies.**

Not applicable.

**Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.**

Not applicable.

**Item 15. Submission of Matters to a Vote of Security Holders.**

There have been no material changes to the procedures by which the shareholders may recommend nominees to the Registrant's Board of Trustees since the Registrant last provided disclosure as to such procedures in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K or this Item.

**Item 16. Controls and Procedures.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Registrant's principal executive and principal financial
 officers, or persons performing similar functions, regarding the effectiveness of the registrant's disclosure controls and procedures
 (as defined in Rule 30a-3(c) under the Act (17 CFR 270.30a-3(c))) as of a date within 90 days of the filing date of the report that includes
 the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the
 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Exchange Act (17 CFR 240.13a-15(b) or 240.15d-15(b)) under the
 Securities Exchange Act of 1934, as amended (the "Exchange Act").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) There were no changes in the Registrant's internal control
 over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the Registrant's
 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 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.**

Not applicable.

**Item 18. Recovery of Erroneously Awarded Compensation.** 

Not Applicable.

**Item 19. Exhibits.**

(a)(1) <u>[Code of ethics, or any amendment thereto, that is the subject of disclosure required by Item 2 is attached hereto.](bcdt-efp24744_ex99code.htm)</u> <br> (a)(2) Not Applicable.

(a)(3) <u>[Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940, as amended (17 CFR 270.30a-2(a)) are attached hereto.](bcdt-efp24744_ex99cert.htm)</u>

(a)(4) Not Applicable.

(a)(5) There has been no change to the Registrant's independent public accountant during the reporting period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>[Certifications pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto.](bcdt-efp24744_ex99906cert.htm)</u> 

**SIGNATURES**

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

---

| | |
|:---|:---|
| **Brinker Capital Destinations Trust** | **Brinker Capital Destinations Trust** |
| By: | (Signature and Title) |
| /s/ Brian Ferko | /s/ Brian Ferko |
| Brian Ferko | Brian Ferko |
| Title: | President<br> (Principal Executive Officer) |
| Date: | April 27, 2026 |

---

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) | By: (Signature and Title) |
| /s/ Brian Ferko | /s/ Brian Ferko |
| Brian Ferko | Brian Ferko |
| Title: | President<br> (Principal Executive Officer) |
| Date: | April 27, 2026 |
| By: | (Signature and Title) |
| /s/ Kevin Fustos | /s/ Kevin Fustos |
| Kevin Fustos | Kevin Fustos |
| Title: | Chief Financial Officer and Treasurer<br> (Principal Financial Officer) |
| Date: | April 27, 2026 |

---

## Ex-99.Codeeth

**Exhibit 99.CODEETH**

BRINKER CAPITAL DESTINATIONS TRUST

**CODE OF ETHICS**

------------

Adopted Under Rule 17j-1

While affirming its confidence in the integrity and good faith of all of its officers and trustees, Brinker Capital Destinations Trust (the "Trust"), recognizes that the knowledge of present or future portfolio transactions and, in certain instances, the power to influence portfolio transactions which may be possessed by certain of its officers, employees and trustees could place such individuals, if they engage in personal transactions in securities which are eligible for investment by the Trust, in a position where their personal interest may conflict with that of the Trust.

In view of the foregoing and of the prohibitions of Rule 17j-1(b) under the Investment Company Act of 1940 (the "1940 Act"), the Trust has determined to adopt this Code of Ethics to specify and prohibit certain types of transactions deemed to create conflicts of interest (or at least the potential for or the appearance of such a conflict), and to establish reporting requirements and enforcement procedures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I. Statement
 of General Principles.

In recognition of the trust and confidence placed in the Trust by its shareholders, and to give effect to the Trust's belief that its operations should be directed to the benefit of its shareholders, the Trust hereby adopts the following general principles to guide the actions of its trustees, officers and employees.

(1) The interests of the Trust's shareholders are paramount, and all of the Trust's personnel must conduct themselves and their operations to give maximum effect to this tenet by assiduously placing the interests of the shareholders before their own.

(2) All personal transactions in securities by the Trust's personnel must be accomplished so as to avoid even the appearance of a conflict of interest on the part of such personnel with the interests of the Trust and its shareholders.

(3) All of the Trust's personnel must avoid actions or activities that allow (or appear to allow) a person to profit or benefit from his or her position with respect to the Trust, or that otherwise bring into question the person's independence or judgment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;II. Definitions.

(1) "Access Person" shall mean (i) each trustee or officer of the Trust or its investment adviser or sub-advisers, (ii) each employee of the Trust or its investment adviser or sub-advisers (or of any company in a control relationship to the Trust) who, in connection with his or her regular functions or duties, makes, participates in, or obtains information regarding the purchase or sale of a security by the Trust or any series thereof (each a "Fund"), or whose functions relate to the making of any recommendations with respect to such purchases or sales, (iii) any natural person in a control relationship to the Trust or its investment adviser or sub-advisers who obtains information concerning recommendations made to or by the Trust with respect to the purchase or sale of a security by any Fund, or whose functions relate to the making of any recommendations with respect to such purchases or sales; (iv) each director, officer or general partner of any principal underwriter for the Trust, but only where such person in the ordinary course either makes, participates in, or obtains information regarding the purchase or sale of securities by the Fund(s), or whose functions relate to the making of recommendations regarding securities to the Fund(s); and (v) any natural person in a control relationship with a Fund or any of the Funds' advisers or sub-advisers who obtain information concerning recommendations made to the Funds with regard to the purchase or sale of a security.

(2) "Beneficial ownership" of a security is to be determined in the same manner as it is for purposes of Section 16 of the Securities Exchange Act of 1934. This means that a person should generally consider himself the beneficial owner of any securities in which he has a direct or indirect pecuniary interest. In addition, a person should consider himself the beneficial owner of securities held by his spouse, his minor children, a relative who shares his home, or other persons by reason of any contract, arrangement, understanding or relationship that provides him with sole or shared voting or investment power.

(3) "Control" shall have the same meaning as that set forth in Section 2(a)(9) of the 1940 Act. Section 2(a)(9) provides that "control" means the power to exercise a controlling influence over the management or policies of a company, unless such power is solely the result of an official position with such company. Ownership of 25% or more of a company's outstanding voting securities is presumed to give the holder thereof control over the company. Such presumption may be countered by the facts and circumstances of a given situation.

(4) "Independent Trustee" means a Trustee of the Trust who is not an "interested person" of the Trust within the meaning of Section 2(a)(19) of the 1940 Act.

(5) "Initial Public Offering" ("IPO") means an offering of Securities registered under the Securities Act of 1933, the issuer of which, immediately before registration, was not subject to the reporting requirements of Section 13 or Section 15(d) of the Securities Exchange Act of 1934.

(6) "Portfolio Manager" means an individual who is involved in making the purchase or sale decisions of securities for a Fund.

(7) "Private Placement" means an offering that is exempt from registration under the Securities Act of 1933 pursuant to Section 4(2) or Section 4(6) of the Securities Act of 1933 or pursuant to Rules 504, 505 or 506 under the Securities Act of 1933.

(8) "Special Purpose Investment Personnel" means each Access Person who, in connection with his or her regular functions (including, where appropriate, attendance at Board meetings and other meetings at which the official business of the Trust or any Fund thereof is discussed or carried on), obtains contemporaneous information regarding the purchase or sale of a security by a Fund. Special Purpose Investment Personnel shall occupy this status only with respect to those securities as to which he or she obtains such contemporaneous information.

(9) Purchase or sale of a security" includes, among other things, the writing of an option to purchase or sell a security.

(10) "Review Officer" means the officer of the Trust or the adviser designated from time to time to receive and review reports of purchases and sales by Access Persons. It is recognized that a different Review Officer may be designated with respect to the Trust and the CCO of the adviser and sub-advisers.

(11) Security" shall have the same meaning as that set forth in Section 2(a)(36) of the 1940 Act, except that it shall not include direct obligations of the Government of the United States, bankers' acceptances, bank certificates of deposit, commercial paper, shares issued by registered, open-end mutual funds (other than ETFs) and high quality short-term debt instruments, including repurchase agreements.

(12) A Security "held or to be acquired" by the Trust or any Fund means (A) any Security which, within the most recent fifteen days, (i) is or has been held by the Trust or any Fund thereof, or (ii) is being or has been considered by a Fund's investment adviser or sub-adviser for purchase by a Fund; (B) and any option to purchase or sell and any Security convertible into or exchangeable for any Security described in (A) above.

(13) A Security is "being purchased or sold" by the Trust from the time when a purchase or sale program has been communicated to the person who places the buy and sell orders for the Trust until the time when such program has been fully completed or terminated.

III. Prohibited Purchases and Sales of Securities.

(1) No Access Person shall, in connection with the purchase or sale, directly or indirectly, by such person of a Security held or to be acquired by any Fund of the Trust:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) employ
 any device, scheme or artifice to defraud such Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) make
 to such Fund any untrue statement of a material fact or omit to state to such Fund a material fact necessary in order to make the
 statements made, in light of the circumstances under which they are made, not misleading;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) engage
 in any act, practice or course of business which would operate as a fraud or deceit upon
 such Fund; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) engage
 in any manipulative practice with respect to Fund.

(2) No Portfolio Manager may purchase or sell, directly or indirectly, any Security as to which such person is a Portfolio Manager in which he had (or by reason of such transaction acquires) any Beneficial Ownership at any time within 7 calendar days before or after the time that the same (or a related) Security is being purchased or sold by any Fund.

(3) No Special Purpose Investment Personnel may *profit* in the purchase and sale, or sale and purchase of a Security as to which he or she is a Special Purpose Investment Personnel within 60 days of acquiring Beneficial Ownership of that Security.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IV. Additional
 Restrictions and Requirements

(1) Pre-approval of Private Placements – Investment Personnel must obtain approval from the Review Officer before acquiring beneficial ownership of any securities offered in connection with an IPO or a Private Placement.

(2) Investment Personnel may not purchase Initial Public Offerings (IPO's)

(3) No Access Person shall accept or receive any gift of more than de minimis value from any person or entity that does business with or on behalf of the Trust.

(4) Each Access Person (other than the Trust's Independent Trustees and its Trustees and officers who are not currently affiliated with or employed by the Trust's investment adviser or principal underwriter) who is not required to provide such information under the terms of a code of ethics described in Section VII hereof must provide to the Review Officer a complete listing of all securities owned by such person as of the end of a calendar quarter. The initial listing must be submitted no later than 10 days of the date upon which such person first becomes an Access Person of the Trust, and each update thereafter must be provided no later than 30 days after the start of the subsequent year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;V. Reporting
 Obligations.

(1) Each Access Person (other than the Trust's Independent Trustees) shall report all transactions in Securities in which the person has, or by reason of such transaction acquires, any direct or indirect Beneficial Ownership. Reports shall be filed with the Review Officer quarterly. The Review Officer shall submit confidential quarterly reports with respect to his or her own personal securities transactions to an officer designated to receive his or her reports ("Alternate Review Officer"), who shall act in all respects in the manner prescribed herein for the Review Officer.

(2) Every report shall be made not later than 30 days after the end of the calendar quarter in which the transaction to which the report relates was effected, and shall contain the following information:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) The
 date of the transaction, the title and the number of shares or the principal amount of each
 security involved;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) The
 nature of the transaction (i.e., purchase, sale or any other type of acquisition or disposition);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) The
 price at which the transaction was effected;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) The
 name of the broker, dealer or bank with or through whom the transaction was effected; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E) The
 date the report was submitted by the Access Person.

(3) In the event no reportable transactions occurred during the quarter, the report should be so noted and returned signed and dated.

(4) An Access Person who would otherwise be required to report his or her transactions under this Code shall not be required to file reports pursuant to this Section V where such person is required to file reports pursuant to a code of ethics described in Section VII, hereof.

(5) An Independent Trustee shall report transactions in Securities only if the Trustee knew at the time of the transaction or, in the ordinary course of fulfilling his or her official duties as a trustee, should have known, that during the 15 day period immediately preceding or following the date of the transaction, such security was purchased or sold, or was being considered for purchase or sale, by the Trust. (The "should have known" standard implies no duty of inquiry, does not presume there should have been any deduction or extrapolation from discussions or memoranda dealing with tactics to be employed meeting a Fund's investment objectives, or that any knowledge is to be imputed because of prior knowledge of the Fund's portfolio holdings, market considerations, or the Fund's investment policies, objectives and restrictions.)

(6) Any such report may contain a statement that the report shall not be construed as an admission by the person making such report that he has any direct or indirect beneficial ownership in the security to which the report relates.

(7) Each Independent Trustee shall report the name of any publicly-owned company (or any company anticipating a public offering of its equity securities) and the total number of its shares beneficially owned by him or her if such total ownership is more than 1/2 of 1% of the company's outstanding shares. Such report shall be made promptly after the date on which the Trustee's ownership interest equaled or exceeded 1/2 of 1%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VI. Review
 and Enforcement.

(1) The Review Officer shall compare all reported personal securities transactions with completed portfolio transactions of the Trust and a list of securities being considered for purchase or sale by the Trust's adviser(s) and sub-adviser(s) to determine whether a violation of this Code may have occurred. Before making any determination that a violation has been committed by any person, the Review Officer shall give such person an opportunity to supply additional explanatory material.

(2) If the Review Officer determines that a violation of this Code may have occurred, he shall submit his written determination, together with the confidential monthly report and any additional explanatory material provided by the individual, to the President of the Trust and outside counsel, who shall make an independent determination as to whether a violation has occurred.

(3) If the President and outside counsel find that a violation has occurred, the President shall impose upon the individual such sanctions as he or she deems appropriate and shall report the violation and the sanction imposed to the Board of Trustees of the Trust.

(4) No person shall participate in a determination of whether he has committed a violation of the Code or of the imposition of any sanction against himself. If a securities transaction of the President is under consideration, any Vice President shall act in all respects in the manner prescribed herein for the President.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VII. Investment
 Adviser's, or Principal Underwriter's Code of Ethics.

Each investment adviser (including, where applicable, any sub-adviser), and principal underwriter (where applicable) of the Trust shall:

(1) Submit to the Board of Trustees of the Trust a copy of its code of ethics adopted pursuant to Rule 17j-1;

(2) Promptly report to the appropriate Trust in writing any material amendments to such code of ethics;

(3) Promptly furnish to the Trust upon request copies of any reports made pursuant to such Code by any person who is an Access Person as to the Trust; and

(4) Shall immediately furnish to the Trust, without request, all material information regarding any violation of such Code by any person who is an Access Person as to the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VIII. Annual
 Written Report to the Board.

At least once a year, the Review Officer will provide the Board of Trustees a written report that includes:

(1) Issues Arising Under the Code - The Report will describe any issue(s) that arose during the previous year under the Code, including any material Code violations, and any resulting sanction(s).

(2) Certification - The Report will certify to the Board of Trustees that the Trust has adopted measures reasonably necessary to prevent its personnel from violating the Code currently and in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IX. Records.

The Trust shall maintain records in the manner and to the extent set forth below, which records may be maintained under the conditions described in Rule 31a-2 under the Investment Company Act and shall be available for examination by representatives of the Securities and Exchange Commission.

(1) A copy of this Code and any other code which is, or at any time within the past five years has been, in effect shall be preserved in an easily accessible place;

(2) A record of any violation of this Code and of any action taken as a result of such violation shall be preserved in an easily accessible place for a period of not less than five years following the end of the fiscal year in which the violation occurs;

(3) A copy of each report made by an Access Person pursuant to this Code shall be preserved for a period of not less than five years from the end of the fiscal year in which it is made, the first two years in an easily accessible place; and

(4) A list of all persons who are, or within the past five years have been, required to make reports pursuant to this Code shall be maintained in an easily accessible place.

(5) A copy of each annual report to the Board of Trustees will be maintained for at least five years from the end of the fiscal year in which it is made, the first two years in an easily accessible place; and

(6) A record of any decision, and the reasons supporting the decision, to approve the acquisition of Securities in an IPO or a Private Placement, shall be preserved for at least five years after the end of the fiscal year in which the approval is granted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;X. Miscellaneous

(1) Confidentiality. All reports of securities transactions and any other information filed with the Trust pursuant to this Code shall be treated as confidential.

(2) Interpretation of Provisions. The Board of Trustees may from time to time adopt such interpretations of this Code as it deems appropriate.

(3) Periodic Review and Reporting. The President of the Trust shall report to the Board of Trustees at least annually as to the operation of this Code and shall address in any such report the need (if any) for further changes or modifications to this Code.

## Ex-99.Cert

**EXHIBIT 99.CERT** 

**CERTIFICATION**

I, Kevin Fustos, certify that:

1. I have reviewed this report on Form N-CSR of Brinker Capital Destinations Trust (the "Registrant");

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:

(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;

(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;

(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

(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.

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):

(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

(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: April 27, 2026 | /s/ Kevin Fustos |
|  | Kevin Fustos |
|  | Chief Financial Officer and Treasurer<br> (Principal Financial Officer) |

---

**CERTIFICATION**

I, Brian Ferko, certify that:

1. I have reviewed this report on Form N-CSR of Brinker Capital Destinations Trust (the "Registrant");

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:

(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;

(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;

(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

(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.

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):

(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

(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: April 27, 2026 | /s/ Brian Ferko |
|  | Brian Ferko |
|  | President<br> (Principal Executive Officer) |

---

## Exhibit 99.906

**EXHIBIT 99.906CERT** 

CERTIFICATION PURSUANT TO 18 U.S.C. Section 1350 AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES OXLEY ACT OF 2002

I, Kevin Fustos, Chief Financial Officer of Brinker Capital Destinations Trust (the "Registrant"), certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;1. The
 Form N-CSR of the Registrant for the annual year ended February 28, 2026, as filed with the
 Securities and Exchange Commission on the date hereof (the "Report"), fully complies
 with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as
 amended; and

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

---

| | |
|:---|:---|
| Date: April 27, 2026 | /s/ Kevin Fustos |
|  | Kevin Fustos, Chief Financial Officer and Treasurer<br> (Principal Financial Officer) |

---

CERTIFICATION PURSUANT TO 18 U.S.C. Section 1350 AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES OXLEY ACT OF 2002

I, Brian Ferko, President of Brinker Capital Destinations Trust (the "Registrant"), certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;1. The
 Form N-CSR of the Registrant for the annual year ended February 28, 2026, as filed with the
 Securities and Exchange Commission on the date hereof (the "Report"), fully complies
 with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as
 amended; and

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

---

| | |
|:---|:---|
| Date: April 27, 2026 | /s/ Brian Ferko |
|  | Brian Ferko, President<br> (Principal Executive Officer) |

---