Destinations Multi Strategy Alternatives 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.
Employing a multi-manager approach, the Fund currently allocates assets among the following sub-advisers:
- Avenue Capital Group II, L.P. is the sub-adviser of Avenue Credit Strategies which employs a total return, event driven approach supported by in-depth bottom up credit research, resulting in a focused portfolio diversified across capital structure and geography.
- Driehaus Capital Management LLC is the sub-adviser of Driehaus Event Driven which seeks asymmetric payoff profiles in directional long, directional short and relative value arbitrage strategies, focusing on liquid credit, equity and derivative securities.
- The JPMorgan Strategic Income Opportunities Fund is an absolute return oriented strategy that invests flexibly across traditional, alternative and private fixed income, seeking to provide uncorrelated, low volatility returns across market environments.
- RiverNorth Capital Management, LLC is the sub-adviser of RiverNorth Opportunities which seeks to exploit the anomaly of closed-end fund discounts in the secondary market through investing in equity, fixed income and hybrid closed-end funds.
- LMCG Investments, LLC is the sub-adviser of the LMCG Serenitas Relative Value Credit Strategy which employs a quantitative approach based on proprietary analytics to exploit pricing inefficiencies in structured credit markets.
I Share Fund performance as of 9/30/2019 | ||||||||||||||
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MTD | QTD | YTD | 1 Year | 3 Years | 5 Years | Since Inception |
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HFRX Global Hedge Fund Index |
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Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. Performance data current to the most recent month-end may be obtained by calling 1-877-771-7979.
*Effective June 30, 2019, the Fund’s adviser, Brinker Capital, Inc. (“Brinker” or the “Adviser”), has contractually agreed to waive a portion of its management fee for a period of one year as necessary to keep the Fund’s management fee from exceeding 0.39% more than the total amount of sub-advisory fees paid by the Adviser. This contractual waiver will only apply if the Fund’s total management fees exceed the total amount of sub-advisory fees paid by the Adviser plus 0.39%, and will not affect the Fund’s total management fees if they are less than such amount. This fee waiver and reimbursement agreement shall remain in effect until June 30, 2020. The agreement may be amended or terminated only with the consent of the Board of Trustees.
HFRX Global Hedge Fund Index Definition: An asset weighted index comprised of all eligible hedge fund strategies, designed to be representative of the overall composition of the hedge fund universe. One cannot invest directly in an index.
An investment in the Destinations Multi Strategy Alternatives Fund is subject to risk, including the possible loss of principal amount invested.
Derivatives, such as futures, involve risks different from, or possibly greater than, risks associated with investing directly in securities and other traditional investments. Specific risk issues include tax issues, increased potential for losses and/or costs to the Fund, and a potential reduction in gains to the Fund.
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 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.
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.
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.
The risk that debt instruments quality are predominantly speculative. Known as ‘junk bonds,’ these have a higher degree of default risk and may be less liquid than higher-rated bonds, may be subject to greater price volatility.
Liquidity risk refers to the possibility that securities cannot be readily sold within seven days at approximately the price at which the Fund has valued them.
Mid-capitalization companies may be newer or less established than large-capitalization companies, and may have limited resources, products and markets, can be more volatile and may be less liquid. Stocks of smaller companies may be subject to more abrupt or erratic market movements than stocks of larger, more established companies and typically are traded in lower volume, are less liquid. These risks may be heightened with respect to micro-cap companies.
Real estate investment trusts (REITs) are trusts that invest primarily in commercial real estate or real estate-related loans. 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.
With 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.
Short sale risk involve 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. Theoretically the potential loss resulting from short sales is unlimited.
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.
- Ticker: DMSFX
- CUSIP: 10964R871
- Benchmark: HFRX Global Hedge Fund Index
- Inception date: 03/20/2017
- Gross expense ratio: 2.07%
- Net expense ratio: 1.59%*
Daily NAV | Date: | 12/04/2019 |
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NAV: $9.52 -
NAV change: $0.02 -
Total assets ($m): $865.4
Management team
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Jeffrey W. Raupp Chief Investment Officer
Jeffrey W. Raupp, CFA, MBA, is Chief Investment Officer at Brinker Capital with portfolio management responsibilities for the Destinations program. He also serves as chair of Brinker Capital’s asset allocation committee. Mr. Raupp joined Brinker Capital in 1996 as an operations manager and has been a portfolio manager for the Destinations program since 2001. Prior to joining Brinker Capital, Mr. Raupp was an electronic engineer and project manager for a small electronics firm. He also served as an officer in the United States Army. Mr. Raupp has a B.S. in Mechanical Engineering from the University of Delaware and a MBA in Finance from Villanova University.
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Amy L. Magnotta Senior Vice President
Amy L. Magnotta, CFA, is a Senior Vice President at Brinker Capital with portfolio management responsibilities for the Destinations program. Ms. Magnotta joined Brinker Capital in 2006 as a senior analyst and has been portfolio manager for the Destinations program since 2007. Prior to joining Brinker Capital, Ms. Magnotta was an associate at Franklin Park Associates from 2004 to 2006 and an associate at BlackRock from 2001 to 2004. Ms. Magnotta has a B.S. in Finance from Lehigh University.
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Leigh A. Lowman Investment Manager
Leigh A. Lowman, CFA is an Investment Manager at Brinker Capital with portfolio management responsibilities for the Destinations program. Prior to joining Brinker Capital in 2015, Ms. Lowman was an outreach analyst for The Investment Fund for Foundations (TIFF) and a senior associate for Mondrian Investment Partners. Ms. Lowman was previously at Brinker Capital from 2004 to 2010 as an investment associate and operations analyst. Ms. Lowman has a B.A. in Economics from Wittenberg University.
Performance
I Share Fund performance as of 9/30/2019 | ||||||||||||||||||||
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Annualized | ||||||||||||||||||||
MTD | QTD | YTD | 1 Year | 3 Years | 5 Years | Since Inception |
Inception Date |
Gross expense ratio |
Net expense ratio* |
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Destinations Multi Strategy Alternatives |
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HFRX Global Hedge Fund Index |
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Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. Performance data current to the most recent month-end may be obtained by calling 1-877-771-7979.
*Effective June 30, 2019, the Fund’s adviser, Brinker Capital, Inc. (“Brinker” or the “Adviser”), has contractually agreed to waive a portion of its management fee for a period of one year as necessary to keep the Fund’s management fee from exceeding 0.39% more than the total amount of sub-advisory fees paid by the Adviser. This contractual waiver will only apply if the Fund’s total management fees exceed the total amount of sub-advisory fees paid by the Adviser plus 0.39%, and will not affect the Fund’s total management fees if they are less than such amount. This fee waiver and reimbursement agreement shall remain in effect until June 30, 2020. The agreement may be amended or terminated only with the consent of the Board of Trustees.
HFRX Global Hedge Fund Index Definition: An asset weighted index comprised of all eligible hedge fund strategies, designed to be representative of the overall composition of the hedge fund universe. One cannot invest directly in an index.
Holdings
Security Description | Ticker Symbol | Security ID | Security Type Description | Quantity | Base Market Value | Percent TNA |
---|---|---|---|---|---|---|
CANADIAN DOLLAR | CASHCAD | CURRENCY | .0500 | .04 | .00 | |
EURO | CASHEUR | CURRENCY | -1.9000 | -2.09 | -.00 | |
BRITISH POUNDS | CASHGBP | CURRENCY | .0100 | .01 | .00 | |
US DOLLARS | CASHUSD | CURRENCY | 155,296,844.6000 | 155,296,844.60 | 17.20 | |
BELLUS HEALTH INC | 07987C204 | COMMON STOCK | 106,009.0000 | 742,063.00 | .08 | |
ULTRA PETROLE WT EX 7/14/25 | 903914117 | WARRANTS | 190,596.0000 | 1,905.96 | .00 | |
HERBALIFE NUTRITION LTD | HLF | B0539H3 | COMMON STOCK | -10,117.0000 | -461,436.37 | -.05 |
FGL HOLDINGS | FG | BD063H6 | COMMON STOCK | 1,162,479.0000 | 10,613,433.27 | 1.18 |
TWELVE SEAS INVESTMENT CO | BROG | BF1H7N6 | COMMON STOCK | 18,561.0000 | 190,807.08 | .02 |
ANDINA ACQUISITION CORP III | ANDAU | BGK43L5 | OTHER EQUITY | 42,105.0000 | 418,944.75 | .05 |
ACT II GLOBAL ACQUISITION CO | ACTTU | BJK4CL9 | OTHER EQUITY | 42,677.0000 | 433,171.55 | .05 |
FELLAZO INC | FLLCU | BK5CXY5 | OTHER EQUITY | 37,048.0000 | 373,443.84 | .04 |
ALUSSA ENERGY ACQUISITION CO | ALUS/U | BL1GTJ5 | OTHER EQUITY | 87,675.0000 | 877,626.75 | .10 |
TWELVE SEAS INVESTMENT CO WT EX 07/13/23 | G9145A115 | WARRANTS | 18,561.0000 | 10,392.30 | .00 | |
TWELVE SEAS INVESTMENT COMPANY RTS 12/31/49 | G9145A131 | RIGHTS | 18,561.0000 | 11,693.43 | .00 | |
ASCENDIS PHARMA A/S - ADR | ASND | 04351P101 | COMMON STOCK | 40,341.0000 | 4,646,476.38 | .51 |
ALLERGAN PLC | AGN | G0177J108 | COMMON STOCK | 51,621.0000 | 9,546,787.74 | 1.06 |
ARGENX SE - ADR | ARGX | 04016X101 | COMMON STOCK | 75,274.0000 | 11,144,315.70 | 1.23 |
MERUS NV | MRUS | BZBY005 | COMMON STOCK | 362,083.0000 | 5,967,127.84 | .66 |
ORCHARD THERAPEUTICS PLC | ORTX | 68570P101 | COMMON STOCK | 445,158.0000 | 5,070,349.62 | .56 |
ABBVIE INC | ABBV | 00287Y109 | COMMON STOCK | -44,703.0000 | -3,921,794.19 | -.43 |
ABERDEEN EM MRKT EQTY INC | AEF | 00301W105 | POOLED INVESTMENTS | 289,680.0000 | 2,054,120.88 | .23 |
ABERDEEN TTL DYN DIVID | AOD | 00326L100 | POOLED INVESTMENTS | 726,879.0000 | 6,265,696.98 | .69 |
ALLIANZGI NFJ DIVIDEND INTER | XNFJX | 01883A107 | POOLED INVESTMENTS | 407,910.0000 | 5,217,168.90 | .58 |
ALPHATEC HOLDINGS INC | 02081G201 | COMMON STOCK | 340,962.0000 | 2,403,782.10 | .27 | |
AMPLITUDE HEALTHCARE ACQUISI | 03212A204 | OTHER EQUITY | 62,007.0000 | 618,829.86 | .07 | |
B RILEY PRINCIPAL MERGER COR | BRPM/U | 05586Y205 | OTHER EQUITY | 36,775.0000 | 375,105.00 | .04 |
BARINGS BDC INC | BBDC | 06759L103 | COMMON STOCK | 621,187.0000 | 6,466,556.67 | .72 |
BIG ROCK PARTNERS ACQUISITIO | BRPA | 089482103 | COMMON STOCK | 50,724.0000 | 532,602.00 | .06 |
BIG ROCK PARTNERS ACQUITITIO WT EX 12/1/22 | 089482111 | WARRANTS | 25,362.0000 | 3,933.65 | .00 | |
BIG ROCK PARTNERS ACQUISITION CORP RTS 12/31/49 | 089482129 | RIGHTS | 50,724.0000 | 12,681.00 | .00 | |
BIG ROCK PARTNERS ACQUISITIO | BRPAU | 089482202 | OTHER EQUITY | 1.0000 | 10.65 | .00 |
BIOMX INC WT EX 10/28/24 | 09090D111 | WARRANTS | 32,931.0000 | 15,477.57 | .00 | |
BLACKROCK CALIFOR MUNI IN TR | BFZ | 09248E102 | POOLED INVESTMENTS | 36,863.0000 | 495,807.35 | .05 |
BLACKROCK NEW YORK MUNICIPAL | BSE | 09249U105 | POOLED INVESTMENTS | 135,474.0000 | 1,845,440.38 | .20 |
BLACKROCK DEBT STRATEGIES FD | 09255R202 | POOLED INVESTMENTS | 628,413.0000 | 6,855,985.83 | .76 | |
BLACKROCK RESOURCES & COMMOD | BCX | 09257A108 | POOLED INVESTMENTS | 170,255.0000 | 1,304,153.30 | .14 |
BLUEPRINT MEDICINES CORP | BPMC | 09627Y109 | COMMON STOCK | 24,433.0000 | 2,004,483.32 | .22 |
BOXWOOD MERGER CORP-CLASS A | BWMC | 10319T101 | COMMON STOCK | 33,529.0000 | 337,972.32 | .04 |
BRANDYWINEGLOBAL GLOBAL INCO | 10537L104 | POOLED INVESTMENTS | 572,845.0000 | 7,023,079.70 | .78 | |
CF FINANCE ACQUISITION CORP | CFFAU | 12528N206 | OTHER EQUITY | 24,648.0000 | 258,064.56 | .03 |
CAPITAL SOUTHWEST CORP /PFD/ | CSWCL | 140501206 | PREFERRED STOCK | 21,207.0000 | 551,382.00 | .06 |
CHASERG TECHNOLOGY ACQUISI-A | CTAC | 16166A103 | COMMON STOCK | 28,503.0000 | 312,107.85 | .03 |
CHASERG TECHNOLOGY WT EX 09/30/2023 | CTACW | 16166A111 | WARRANTS | 14,251.0000 | 28,502.00 | .00 |
CHURCHILL CAPITAL CORP II | CCX/U | 17143G205 | OTHER EQUITY | 18,907.0000 | 204,195.60 | .02 |
CLEAR CHANNEL OUTDOOR HOLDINGS | CCO | 18453H106 | COMMON STOCK | 947,028.0000 | 2,348,629.44 | .26 |
CLOUGH GLOBAL EQUITY FUND | GLQ | 18914C100 | POOLED INVESTMENTS | 194,244.0000 | 2,328,985.56 | .26 |
CLOUGH GLBL OPPORTUNITIES FD | GLO | 18914E106 | POOLED INVESTMENTS | 439,455.0000 | 4,126,482.45 | .46 |
CONSOLIDATED COMMUNICATIONS | CNSL | 209034107 | COMMON STOCK | 664,737.0000 | 2,412,995.31 | .27 |
CORNERSTONE STRATEGIC VALUE | CLM | 21924B302 | POOLED INVESTMENTS | 107,605.0000 | 1,212,708.35 | .13 |
CYTOKINETICS INC | 23282W605 | COMMON STOCK | 624,303.0000 | 6,037,010.01 | .67 | |
DELAWARE ENHANCED GLOBAL DIV | DEX | 246060107 | POOLED INVESTMENTS | 306,785.0000 | 3,104,664.20 | .34 |
DIAMOND EAGLE ACQUISITION CO | 25258L208 | OTHER EQUITY | 483,000.0000 | 5,071,500.00 | .56 | |
DUFF & PHELPS UTIL & CORP BD | DUC | 26432K108 | POOLED INVESTMENTS | 74,660.0000 | 677,912.80 | .08 |
EATON VANCE SENIOR INCOME TR | EVF | 27826S103 | POOLED INVESTMENTS | 268,807.0000 | 1,677,355.68 | .19 |
EATON VANCE FLOATING-RATE IN | EFF | 278284104 | POOLED INVESTMENTS | 64,525.0000 | 1,006,590.00 | .11 |
EATON VANCE LTD DURATION FND | EVV | 27828H105 | POOLED INVESTMENTS | 781,133.0000 | 10,076,615.70 | 1.12 |
EATON VANCE TAX-MGD B/W STR | EXD | 27829M103 | POOLED INVESTMENTS | 162,438.0000 | 1,647,121.32 | .18 |
EDTECHX HOLDINGS ACQUISITION | EDTXU | 28138X202 | OTHER EQUITY | 28,503.0000 | 293,580.90 | .03 |
FAR POINT ACQUISITION CORP-A | FPAC | 30734W109 | COMMON STOCK | 16,206.0000 | 166,111.50 | .02 |
FAR PT ACQUISITIO WT EX 6/1/25 | FPACWS | 30734W117 | WARRANTS | 5,402.0000 | 6,590.44 | .00 |
FAR POINT ACQUISITION CORP | FPAC/U | 30734W208 | OTHER EQUITY | 2.0000 | 21.44 | .00 |
FINTECH ACQUISITION CORP III | FTACU | 31811A309 | OTHER EQUITY | 25,081.0000 | 268,366.70 | .03 |
GDL FUND/THE | GDL | 361570104 | POOLED INVESTMENTS | 40,366.0000 | 372,457.08 | .04 |
GABELLI DIVIDEND & INCOME TR | GDV | 36242H104 | POOLED INVESTMENTS | 25,016.0000 | 526,836.96 | .06 |
GABELLI DIVIDEND & INCOME TR | 36242H120 | POOLED INVESTMENTS | 7.0000 | .00 | .00 | |
GX ACQUISITION CORP | GXGXU | 36251A206 | OTHER EQUITY | 35,473.0000 | 366,436.09 | .04 |
GARRISON CAPITAL INC | GARS | 366554103 | COMMON STOCK | 243,548.0000 | 1,473,465.40 | .16 |
GENERAL AMERICAN INVEST PREFERRED SERIES B | GAM PRB | 368802401 | POOLED INVESTMENTS | 24,494.0000 | 665,991.86 | .07 |
GIGCAPITAL2 INC | GIX/U | 375036209 | OTHER EQUITY | 38,120.0000 | 396,066.80 | .04 |
GORDON POINTE ACQUISITION CO | GPAQ | 382788107 | COMMON STOCK | 16,736.0000 | 176,062.72 | .02 |
GORDON POINTE ACQUISITION CORP WT EX 07/29/24 | GPAQW | 382788115 | WARRANTS | 16,736.0000 | 5,275.19 | .00 |
GRAF INDUSTRIAL CORP | GRAF/U | 384278206 | OTHER EQUITY | 43,099.0000 | 453,401.48 | .05 |
GREENVISION ACQUISITION CORP | GRNVU | 39678G202 | OTHER EQUITY | 85,388.0000 | 856,441.64 | .09 |
HC2 HOLDINGS INC | HCHC | 404139107 | COMMON STOCK | 199,938.0000 | 427,867.32 | .05 |
JOHN HANCOCK TAX-ADVANTAGED | HTY | 41013P749 | POOLED INVESTMENTS | 89,742.0000 | 623,706.90 | .07 |
HARBORONE BANCORP INC | HONE | 41165Y100 | COMMON STOCK | 506,355.0000 | 5,372,426.55 | .60 |
HAYMAKER ACQUISITION CORP II | 42087L200 | OTHER EQUITY | 26,238.0000 | 273,924.72 | .03 | |
HEALTH SCIENCES ACQUISITIONS | HSAC | 42227C102 | COMMON STOCK | 22,488.0000 | 235,674.24 | .03 |
HEALTH SCIENCES WT EX 04/01/24 | 42227C110 | WARRANTS | 22,488.0000 | 20,617.00 | .00 | |
HENNESSY CAPITAL ACQUISITION | HCACU | 42589C203 | OTHER EQUITY | 32,628.0000 | 352,056.12 | .04 |
HIGHLAND INCOME FUND | HFRO | 43010E404 | POOLED INVESTMENTS | 216,194.0000 | 2,501,364.58 | .28 |
HIGHLAND GLOBAL ALLOCATION | HGLB | 43010T104 | POOLED INVESTMENTS | 55,357.0000 | 488,802.31 | .05 |
IDEAYA BIOSCIENCES INC | IDYA | 45166A102 | COMMON STOCK | 23,446.0000 | 179,361.90 | .02 |
INDIA FUND INC | IFN | 454089103 | POOLED INVESTMENTS | 46,015.0000 | 946,068.40 | .10 |
INSPIRE MEDICAL SYSTEMS INC | INSP | 457730109 | COMMON STOCK | 50,769.0000 | 3,602,568.24 | .40 |
INSURANCE ACQUISITION CORP | INSUU | 457867307 | OTHER EQUITY | 40,972.0000 | 422,421.32 | .05 |
INVESCO HIGH INCOME TRUST II | VLT | 46131F101 | POOLED INVESTMENTS | 243,396.0000 | 3,478,128.84 | .39 |
INVESCO SENIOR INCOME TRUST | VVR | 46131H107 | POOLED INVESTMENTS | 928,440.0000 | 3,890,163.60 | .43 |
INVESCO MUNICIPAL OPPORTUNI | VMO | 46132C107 | POOLED INVESTMENTS | 33,529.0000 | 416,094.89 | .05 |
INVESCO DYNAMIC CREDIT OPP | VTA | 46132R104 | POOLED INVESTMENTS | 523,561.0000 | 5,827,233.93 | .65 |
INVESCO SENIOR LOAN ETF | 46138G508 | POOLED INVESTMENTS | -202,997.0000 | -4,559,312.62 | -.51 | |
ISHARES NASDAQ BIOTECHNOLOGY | IBB | 464287556 | POOLED INVESTMENTS | -87,693.0000 | -10,492,467.45 | -1.16 |
ISHARES IBOXX HIGH YLD CORP | HYG | 464288513 | POOLED INVESTMENTS | -118,400.0000 | -10,293,696.00 | -1.14 |
JPMORGAN STRAT INC OPP-R6 | JSOZX | 48121L114 | POOLED INVESTMENTS | 14,852,423.9120 | 170,357,302.27 | 18.87 |
JUNIPER INDUSTRIAL HOLDINGS | JIH/U | 48205G205 | OTHER EQUITY | 1,676.0000 | 16,793.52 | .00 |
KAYNE ANDERSON MLP/MIDSTREAM | KYN | 486606106 | POOLED INVESTMENTS | 245,676.0000 | 3,083,233.80 | .34 |
KCAP FINANCIAL INC PREFERRED | KCAPL | 48668E309 | PREFERRED STOCK | 19,935.0000 | 504,754.20 | .06 |
KEARNY FINANCIAL CORP/MD | KRNY | 48716P108 | COMMON STOCK | 410,186.0000 | 5,783,622.60 | .64 |
LF CAPITAL ACQUISITION COR-A | LFAC | 50200K108 | COMMON STOCK | 2,813.0000 | 28,805.12 | .00 |
LF CAP ACQUISITI WT EX 6/27/23 | LFACW | 50200K116 | WARRANTS | 2,813.0000 | 984.55 | .00 |
LANDCADIA HOLDINGS II INC | 51476X204 | OTHER EQUITY | 48,677.0000 | 489,203.85 | .05 | |
LAZARD WORLD DIVIDEND & INCO | LOR | 521076109 | POOLED INVESTMENTS | 74,313.0000 | 724,551.75 | .08 |
LEGACY ACQUISITION CORP WT EX 11/21/24 | LGCWS | 524643111 | WARRANTS | 42,092.0000 | 18,099.56 | .00 |
LEISURE ACQUISITION CORP | LACQ | 52539T107 | COMMON STOCK | 61,709.0000 | 636,836.88 | .07 |
LEISURE ACQUISITION CORP WT EXP 12/28/2022 | 52539T115 | WARRANTS | 30,854.0000 | 18,564.85 | .00 | |
LEISURE ACQUISITION CORP | LACQU | 52539T206 | OTHER EQUITY | 1.0000 | 10.61 | .00 |
MEDICINES COMPANY | MDCO | 584688105 | COMMON STOCK | 65,000.0000 | 5,473,000.00 | .61 |
MERIDA MERGER CORP I | 58953M205 | OTHER EQUITY | 101,645.0000 | 1,013,400.65 | .11 | |
MONOCLE ACQUISITION CORP | MNCLU | 609754205 | OTHER EQUITY | 10,785.0000 | 108,389.25 | .01 |
MYOKARDIA INC | MYOK | 62857M105 | COMMON STOCK | 137,251.0000 | 8,941,902.65 | .99 |
NEUBERGER BERMAN CA MUNI | NBW | 64123C101 | POOLED INVESTMENTS | 8,101.0000 | 111,064.71 | .01 |
NEUBERGER BERMAN NY MUNI | NBO | 64124K102 | POOLED INVESTMENTS | 63,887.0000 | 789,643.32 | .09 |
NEUBERGER BERMAN HIGH YIELD | NHS | 64128C106 | POOLED INVESTMENTS | 56,956.0000 | 685,750.24 | .08 |
NEXPOINT STRATEGIC OPPORTUNI | 65340G205 | POOLED INVESTMENTS | 153,606.0000 | 2,586,725.04 | .29 | |
NUVEEN AMT-FREE QTY MUN INC FD | NEA | 670657105 | POOLED INVESTMENTS | 121,126.0000 | 1,707,876.60 | .19 |
NUVEEN INT DUR QU MUN TRM FD | NIQ | 670677103 | POOLED INVESTMENTS | 73,723.0000 | 1,013,484.83 | .11 |
NUVEEN AMT-FR MUNI CREDIT FD | NVG | 67071L106 | POOLED INVESTMENTS | 295,005.0000 | 4,764,330.75 | .53 |
NUVEEN GA QUAL MUNI INC FD | NKG | 67072B107 | POOLED INVESTMENTS | 163,102.0000 | 2,033,881.94 | .23 |
NUVEEN CREDIT STRAT INCM | JQC | 67073D102 | POOLED INVESTMENTS | 719,182.0000 | 5,336,330.44 | .59 |
NUVEEN MRTG OPPRT TRM 2 | JMT | 67074R100 | POOLED INVESTMENTS | 25,219.0000 | 556,583.33 | .06 |
NUVEEN OH QUAL MUNI INC FD | NUO | 670980101 | POOLED INVESTMENTS | 32,861.0000 | 513,946.04 | .06 |
OCEANFIRST FINANCIAL CORP | OCFC | 675234108 | COMMON STOCK | 102,249.0000 | 2,451,931.02 | .27 |
ODONATE THERAPEUTICS INC | ODT | 676079106 | COMMON STOCK | 108,781.0000 | 3,739,890.78 | .41 |
OPES ACQUISITION CORP | OPES | 68373P100 | COMMON STOCK | 18,239.0000 | 190,779.94 | .02 |
OPES ACQUISITION CORP WT EX 1/15/23 | OPESW | 68373P118 | WARRANTS | 18,239.0000 | 2,265.28 | .00 |
OSPREY TECHNOLOGY ACQUISITIO | SFTW/U | 68839R401 | OTHER EQUITY | 49,581.0000 | 496,305.81 | .05 |
OXFORD SQUARE CAP CORP /PFD/ | OXSQL | 69181V206 | PREFERRED STOCK | 11,832.0000 | 295,918.32 | .03 |
OXFORD SQUARE CAPITAL CO /PFD/ | 69181V305 | PREFERRED STOCK | 32,706.0000 | 805,875.84 | .09 | |
PGIM HIGH YIELD BOND FUND | 69346H100 | POOLED INVESTMENTS | 150,257.0000 | 2,246,342.15 | .25 | |
PGIM GLOBAL HIGH YIELD FUND | GHY | 69346J106 | POOLED INVESTMENTS | 632,568.0000 | 9,191,213.04 | 1.02 |
PIMCO ENRGY & TACT CRDT | NRGX | 69346N107 | POOLED INVESTMENTS | 130,367.0000 | 2,058,494.93 | .23 |
PENNANTPARK INVESTMENT C /PFD/ | PNNTG | 708062401 | PREFERRED STOCK | 60,018.0000 | 1,500,450.00 | .17 |
PENSARE ACQUI WT EX 8/8/22 | 70957E113 | WARRANTS | 36,319.0000 | 8,135.46 | .00 | |
PENSARE ACQUISITION CORP RTS 12/31/49 | 70957E121 | RIGHTS | 72,639.0000 | 20,121.00 | .00 | |
PIVOTAL ACQUISITION CORP-A | PVT | 72583A101 | COMMON STOCK | 14,462.0000 | 146,355.44 | .02 |
PIVOTAL ACQUISITION CORP WT EX 03/25/2024 | PVTWS | 72583A119 | WARRANTS | 14,462.0000 | 11,135.74 | .00 |
PROFICIENT ALPHA ACQUISITION | 74317H204 | OTHER EQUITY | 95,271.0000 | 952,710.00 | .11 | |
PROPTECH ACQUISITION CORPORA | PTACU | 74349F200 | OTHER EQUITY | 32,032.0000 | 324,804.48 | .04 |
PURE ACQUISITION CORP | PACQ | 74621Q106 | COMMON STOCK | 30,656.0000 | 316,676.48 | .04 |
PURE ACQUISITIO CORP WT EX 04/17/23 | PACQW | 74621Q114 | WARRANTS | 15,328.0000 | 16,094.40 | .00 |
PURE ACQUISITION CORP | PACQU | 74621Q205 | OTHER EQUITY | 1.0000 | 10.65 | .00 |
PUTNAM MUNI OPPORTUNITIES TR | PMO | 746922103 | POOLED INVESTMENTS | 145,757.0000 | 1,931,280.25 | .21 |
RA PHARMACEUTICALS INC | RARX | 74933V108 | COMMON STOCK | -52,768.0000 | -2,465,848.64 | -.27 |
ROYCE MICRO-CAP TRUST INC | RMT | 780915104 | POOLED INVESTMENTS | 269,917.0000 | 2,234,912.76 | .25 |
SPDR S&P REGIONAL BANKING ETF_ | KRE | 78464A698 | POOLED INVESTMENTS | -137,460.0000 | -7,728,001.20 | -.86 |
SPDR S&P BIOTECH ETF | XBI | 78464A870 | POOLED INVESTMENTS | -263,905.0000 | -24,714,703.25 | -2.74 |
SPDR BBG BARC ST HIGH YIELD | SJNK | 78468R408 | POOLED INVESTMENTS | -103,000.0000 | -2,749,070.00 | -.30 |
SCHULTZE SPECIAL PURPOSE ACQ | SAMAU | 80821R208 | OTHER EQUITY | 43,473.0000 | 452,119.20 | .05 |
SI-BONE INC | 825704109 | COMMON STOCK | 253,708.0000 | 4,513,465.32 | .50 | |
SOURCE CAPITAL INC | SOR | 836144105 | POOLED INVESTMENTS | 54,596.0000 | 2,076,285.88 | .23 |
SOUTH MOUNTAIN MERGER CORP | SMMCU | 838884203 | OTHER EQUITY | 51,279.0000 | 520,481.85 | .06 |
SPECIAL OPPORTUNITIES FUND | XXPIFXX | 84741T104 | POOLED INVESTMENTS | 106,401.0000 | 1,529,056.85 | .17 |
STABLE ROAD ACQUISITION CORP | SRACU | 85236Q208 | OTHER EQUITY | 16,858.0000 | 169,760.06 | .02 |
SUTRO BIOPHARMA INC | STRO | 869367102 | COMMON STOCK | 63,596.0000 | 704,643.68 | .08 |
SWISS HELVETIA FUND | SWZ | 870875101 | POOLED INVESTMENTS | 141,430.0000 | 1,148,425.74 | .13 |
THL CREDIT INC /PFD/ | TCRW | 872438403 | PREFERRED STOCK | 34,533.0000 | 899,957.61 | .10 |
TEMPLETON GLOBAL INCOME FUND | GIM | 880198106 | POOLED INVESTMENTS | 1,109,063.0000 | 6,521,290.44 | .72 |
TIBERIUS ACQUISITION CORP | TIBR | 88633A107 | COMMON STOCK | 8,304.0000 | 86,444.64 | .01 |
TIBERIUS ACQUISITION CORP WT EX 04/10/23 | TIBRW | 88633A115 | WARRANTS | 8,304.0000 | 9,632.64 | .00 |
TORTOISE MIDSTREAM ENERGY | NTG | 89148B101 | POOLED INVESTMENTS | 62,891.0000 | 621,363.08 | .07 |
TREVI THERAPEUTICS INC | TRVI | 89532M101 | COMMON STOCK | 101,038.0000 | 355,653.76 | .04 |
TRIDENT ACQUISITIONS CORP | TDAC | 89615T106 | COMMON STOCK | 4,232.0000 | 44,647.60 | .00 |
TRIDENT ACQUISITIONS CORP WT EX 06/13/2021 | TDACW | 89615T114 | WARRANTS | 4,232.0000 | 323.32 | .00 |
TRIPLEPOINT VENTURE GROW/PFD/ | TPVY | 89677Y308 | PREFERRED STOCK | 28,346.0000 | 729,892.49 | .08 |
TUSCAN HOLDINGS CORP | 90069K203 | OTHER EQUITY | 32,225.0000 | 335,140.00 | .04 | |
VAPOTHERM INC | VAPO | 922107107 | COMMON STOCK | 97,259.0000 | 1,075,684.54 | .12 |
VECTOR GROUP LTD | VGR | 92240M108 | COMMON STOCK | -21,722.0000 | -291,943.68 | -.03 |
VECTOIQ ACQUISITION CORP | VTIQ | 92243N103 | COMMON STOCK | 17,313.0000 | 177,804.51 | .02 |
VECTOIQ ACQUISITION CORP WT EX 06/11/2023 | VTIQW | 92243N111 | WARRANTS | 17,313.0000 | 9,425.20 | .00 |
VOYA EMRG MRKTS HI INC DVD | IHD | 92912P108 | POOLED INVESTMENTS | 123,590.0000 | 935,576.30 | .10 |
VOYA GLBL EQTY DVD & PRM OPP | IGD | 92912T100 | POOLED INVESTMENTS | 2,448.0000 | 15,006.24 | .00 |
VOYA PRIME RATE TRUST | 92913A100 | POOLED INVESTMENTS | 1,122,686.0000 | 5,422,573.38 | .60 | |
VOYA NATURAL RESOURCES EQUIT | IRR | 92913C106 | POOLED INVESTMENTS | 113,981.0000 | 429,708.37 | .05 |
WESTERN ASSET GLOBAL HIGH IN | EHI | 95766B109 | POOLED INVESTMENTS | 305,810.0000 | 2,960,240.80 | .33 |
WESTERN ASSET HI INC OPPORT | HIO | 95766K109 | POOLED INVESTMENTS | 595,886.0000 | 2,979,430.00 | .33 |
WESTERN ASSET CORPORATE LOAN | TLI | 95790J102 | POOLED INVESTMENTS | 6,596.0000 | 63,321.60 | .01 |
X4 PHARMACEUTICALS INC WT EX 4/12/24 | XFORW | 98420X111 | WARRANTS | 23,299.0000 | 81,546.50 | .01 |
ZAYO GROUP HOLDINGS INC | ZAYO | 98919V105 | COMMON STOCK | 260,750.0000 | 8,928,080.00 | .99 |
BOXWOOD MERGER WT EX 11/26/25 | BHXKPH7 | WARRANTS | 33,529.0000 | 23,470.30 | .00 | |
WEALTHBRIDGE ACQUISITION LTD | HHHH | BGMHQ57 | COMMON STOCK | 32,363.0000 | 327,189.93 | .04 |
WEALTHBRIDGE ACQUISITION LTD WT EX 3/1/24 | BGMHQ68 | WARRANTS | 32,363.0000 | 2,912.67 | .00 | |
WEALTHBRIDGE ACQUISITION LTD RTS 12/31/2099 | BGMHQ79 | RIGHTS | 32,363.0000 | 9,890.13 | .00 | |
ALBERTON ACQUISITION CORP | ALACU | BGT0TJ4 | OTHER EQUITY | 41,641.0000 | 439,312.55 | .05 |
DD3 ACQUISITION CORP | DDMX | BGT3SG3 | COMMON STOCK | 43,875.0000 | 445,331.25 | .05 |
DD3 ACQUISITION CORP WT EX 10/12/25 | BGT3SH4 | WARRANTS | 43,875.0000 | 18,019.46 | .00 | |
8I ENTERPRISES ACQUISITION C | JFK | BJVJNF4 | COMMON STOCK | 76,557.0000 | 767,101.14 | .08 |
8I ENTERPRISES ACQUISITION C WT EX 10/1/25 | BJVJNH6 | WARRANTS | 76,557.0000 | 28,326.09 | .00 | |
8I ENTERPRIS ACQUISITI RTS 12/31/49 | BJVJNL0 | RIGHTS | 76,557.0000 | 27,560.52 | .00 | |
AGBA ACQUISITION LTD | AGBAU | BK5NCD0 | OTHER EQUITY | 100,702.0000 | 1,023,132.32 | .11 |
ENDO DAC/FIN LLC/F 6% 02/01/25 | 29273EAA6 | CORPORATE BONDS | 5,238,000.0000 | 3,260,655.00 | .36 | |
AMERICAN ENERGY P 12% 10/01/24 | 02563LAJ7 | CORPORATE BONDS | 2,252,000.0000 | 1,384,980.00 | .15 | |
ARROW BIDCO LLC 9.5% 03/15/24 | 042728AA3 | CORPORATE BONDS | 6,715,000.0000 | 6,362,462.50 | .70 | |
AVON PRODUCTS I 8.95% 03/15/43 | AVP43 | 054303AZ5 | CORPORATE BONDS | 8,000,000.0000 | 9,920,000.00 | 1.10 |
BALTA 2004-8 1A V/R 09/25/34 | 07386HKS9 | ASSET BACKED | 1,527,787.9800 | 1,527,644.22 | .17 | |
BEAVER CNTY PA IN V/R 04/01/35 | 074876HH9 | MUNICIPAL BONDS | 10,000.0000 | 8,825.00 | .00 | |
BEAVER CNTY PA IN V/R 04/01/41 | 074876HL0 | MUNICIPAL BONDS | 10,000.0000 | 8,825.00 | .00 | |
BLACKROCK CAPITAL 5% 06/15/22 | 092533AC2 | CORPORATE BONDS | 1,000,000.0000 | 998,331.00 | .11 | |
CEC ENTERTAINMENT 8% 02/15/22 | 125137AB5 | CORPORATE BONDS | 4,000,000.0000 | 3,880,000.00 | .43 | |
CALIFORNIA RESOURC 8% 12/15/22 | 13057QAG2 | CORPORATE BONDS | 13,375,000.0000 | 3,343,750.00 | .37 | |
CONSOLIDATED COM 6.5% 10/01/22 | 20903XAE3 | CORPORATE BONDS | 14,773,000.0000 | 12,667,847.50 | 1.40 | |
CYTOKINETICS INC 4% 11/15/26 | 23282WAA8 | CORPORATE BONDS | 2,800,000.0000 | 3,122,693.42 | .35 | |
EIG INVESTORS 10.875% 02/01/24 | 26854XAB5 | CORPORATE BONDS | 7,400,000.0000 | 7,270,500.00 | .81 | |
EP ENER/EVEREST 7.75% 09/01/22 | 268787AB4 | CORPORATE BONDS | 1,660,000.0000 | 4,150.00 | .00 | |
EP ENER/EVERES 6.375% 06/15/23 | 268787AD0 | CORPORATE BONDS | 11,951,000.0000 | 29,877.50 | .00 | |
EP ENER/EVEREST AC 8% 11/29/24 | 268787AE8 | CORPORATE BONDS | 12,619,000.0000 | 4,921,410.00 | .55 | |
EP ENER/EVERES 9.375% 05/01/24 | 268787AH1 | CORPORATE BONDS | 11,986,000.0000 | 149,825.00 | .02 | |
ELAT 2007-1 M1 V/R 05/25/37 | 288542AF0 | ASSET BACKED | 470,962.0000 | 403,907.94 | .04 | |
ELAT 2007-2 M1A V/R 05/25/37 | 288547AF9 | ASSET BACKED | 1,565,000.0000 | 1,329,467.50 | .15 | |
EP ENER/EVERES 9.375% 05/01/20 | EPE/20 | 29977HAB6 | CORPORATE BONDS | 1,340,000.0000 | 3,350.00 | .00 |
CAS 2014-C04 2M2 V/R 11/25/24 | 30711XAR5 | ASSET BACKED | 2,117,982.6500 | 2,264,631.77 | .25 | |
CAS 2015-C01 1M2 V/R 02/25/25 | 30711XAT1 | ASSET BACKED | 3,285,309.1900 | 3,501,468.74 | .39 | |
CAS 2016-C01 2M2 V/R 08/25/28 | 30711XBU7 | ASSET BACKED | 5,573,352.4800 | 6,046,275.96 | .67 | |
CAS 2016-C03 1M2 V/R 10/25/28 | 30711XCL6 | ASSET BACKED | 5,000,000.0000 | 5,410,566.00 | .60 | |
CAS 2016-C03 2M2 V/R 10/25/28 | 30711XCT9 | ASSET BACKED | 8,286,720.0900 | 8,938,094.41 | .99 | |
CAS 2016-C05 2M2 V/R 01/25/29 | 30711XDK7 | ASSET BACKED | 11,359,658.9000 | 11,954,724.41 | 1.32 | |
CAS 2016-C07 2M2 V/R 05/25/29 | 30711XEC4 | ASSET BACKED | 19,088,043.4500 | 20,049,769.70 | 2.22 | |
CAS 2017-C01 1M2 V/R 07/25/29 | 30711XEP5 | ASSET BACKED | 12,480,000.0000 | 13,119,623.71 | 1.45 | |
CAS 2017-C02 2M2 V/R 09/25/29 | 30711XGP3 | ASSET BACKED | 14,600,000.0000 | 15,443,957.38 | 1.71 | |
CAS 2017-C03 1M2 V/R 10/25/29 | 30711XJX3 | ASSET BACKED | 5,812,875.0000 | 6,051,333.66 | .67 | |
CAS 2017-C04 2M2 V/R 11/25/29 | 30711XLT9 | ASSET BACKED | 836,000.0000 | 865,772.05 | .10 | |
CAS 2017-C05 1M2 V/R 01/25/30 | 30711XNX8 | ASSET BACKED | 21,261,000.0000 | 21,530,936.03 | 2.39 | |
CAS 2017-C06 1M2 V/R 02/25/30 | 30711XQX5 | ASSET BACKED | 11,695,000.0000 | 12,030,714.33 | 1.33 | |
CAS 2017-C07 1M2 V/R 05/25/30 | 30711XUX0 | ASSET BACKED | 19,180,000.0000 | 19,472,272.51 | 2.16 | |
CAS 2018-C01 1M2 V/R 07/25/30 | 30711XYX6 | ASSET BACKED | 21,299,000.0000 | 21,510,910.14 | 2.38 | |
STACR 2017-HQA1 V/R 08/25/29 | 3137G0NE5 | ASSET BACKED | 10,258,000.0000 | 10,762,148.90 | 1.19 | |
STACR 2017-HQA2 V/R 12/25/29 | 3137G0PU7 | ASSET BACKED | 10,075,000.0000 | 10,327,812.98 | 1.14 | |
FINA 2004-2 M7 V/R 08/25/34 | 317350BK1 | ASSET BACKED | 602,382.8400 | 548,309.10 | .06 | |
FFML 2006-FF17 A V/R 12/25/36 | 32028KAE6 | ASSET BACKED | 2,572,524.8500 | 2,254,624.58 | .25 | |
GSAMP 2006-HE5 A V/R 08/25/36 | 362437AD7 | ASSET BACKED | 2,814,807.9800 | 2,748,151.36 | .30 | |
GENWORTH HOLDING 7.7% 06/15/20 | GNW20A | 37247DAM8 | CORPORATE BONDS | 7,253,000.0000 | 7,361,795.00 | .82 |
GOGO INC 6% 05/15/22 | 38046CAC3 | CORPORATE BONDS | 2,240,000.0000 | 2,388,350.90 | .26 | |
HLF FIN SARL LL 7.25% 08/15/26 | 40390DAA3 | CORPORATE BONDS | 4,799,000.0000 | 5,014,955.00 | .56 | |
HC2 HOLDINGS IN 11.5% 12/01/21 | 404139AD9 | CORPORATE BONDS | 10,877,500.0000 | 10,007,300.00 | 1.11 | |
HADRIAN MERGER S 8.5% 05/01/26 | 42239PAA7 | CORPORATE BONDS | -4,164,000.0000 | -4,150,696.02 | -.46 | |
ILFC E-CAPITAL TR V/R 12/21/65 | 44965TAA5 | CORPORATE BONDS | 11,600,000.0000 | 9,019,000.00 | 1.00 | |
MARM 2004-9 M2 V/R 11/25/34 | 576433RU2 | ASSET BACKED | 1,240,134.6700 | 1,230,774.51 | .14 | |
OHIO ST AIR QUALI V/R 03/01/23 | 677525VP9 | MUNICIPAL BONDS | 14,650.0000 | 12,928.63 | .00 | |
POPLR 2005-3 AV1 V/R 07/25/35 | 73316PDZ0 | ASSET BACKED | 1,584,350.0300 | 1,583,882.65 | .18 | |
RAMC 2005-3 M1 V/R 11/25/35 | 75970NBH9 | ASSET BACKED | 4,447,000.0000 | 2,187,520.66 | .24 | |
REVLON CONSUMER 5.75% 02/15/21 | 761519BD8 | CORPORATE BONDS | 3,778,000.0000 | 3,041,290.00 | .34 | |
SANCHEZ ENERGY 7.75% 06/15/21 | 79970YAB1 | CORPORATE BONDS | 36,976,000.0000 | 1,294,160.00 | .14 | |
SANCHEZ ENERGY 6.125% 01/15/23 | SN23 | 79970YAD7 | CORPORATE BONDS | 430,000.0000 | 15,050.00 | .00 |
USB REALTY V/R /PERP/ | 903312AA4 | CORPORATE BONDS | 11,142,000.0000 | 9,623,902.50 | 1.07 | |
ULTRA RESOURCES I 11% 07/12/24 | 90400GAE1 | CORPORATE BONDS | 6,085,271.0000 | 973,643.36 | .11 | |
VECTOR GROUP L 6.125% 02/01/25 | 92240MBF4 | CORPORATE BONDS | 8,899,000.0000 | 8,509,668.75 | .94 | |
T/L ASURION LLC 0% 8/4/2025 | LX167087 | LOAN | 9,200,000.0000 | 9,266,148.00 | 1.03 | |
T/L GENWORTH FINAN 0% 03/07/23 | LX171577 | LOAN | .2300 | .23 | .00 | |
T/L CERENCE INC 0% 10/01/24 | LX182674 | LOAN | 8,000,000.0000 | 7,500,000.00 | .83 | |
T/L FOSSIL GROUP 0% 08/26/26 | LX183032 | LOAN | 8,000,000.0000 | 7,546,640.00 | .84 | |
CXT 2I65BYBD6 01.000 SP 12/20/2023 A3 - E7 GOLDNY SHORT | SCCDS1095 | SWAPS | -20,000,000.0000 | -20,000,000.00 | -2.22 | |
CXT 2I65BYBD6 01.000 SP 12/20/2023 A3 - E7 GOLDNY LONG | SCCDS1095 | SWAPS | 20,000,000.0000 | 19,683,687.80 | 2.18 | |
CXT 2I65BYBD6 01.000 SP 12/20/2023 A3 - E7 GOLDNY LONG | SCCDS1137 | SWAPS | 10,000,000.0000 | 9,841,843.90 | 1.09 | |
CXT 2I65BYBD6 01.000 SP 12/20/2023 A3 - E7 GOLDNY SHORT | SCCDS1137 | SWAPS | -10,000,000.0000 | -10,000,000.00 | -1.11 | |
CXT 2I65BYDV4 01.000 SP A3 - E7 12/20/2024 GOLDNY LONG | SCCDS1356 | SWAPS | 10,000,000.0000 | 9,384,212.10 | 1.04 | |
CXT 2I65BYDV4 01.000 SP A3 - E7 12/20/2024 GOLDNY SHORT | SCCDS1356 | SWAPS | -10,000,000.0000 | -10,000,000.00 | -1.11 |
As of 11/29/2019.
Distributions
Fund Name | Fund Cusip | Distribution Type | Amount per Share | Ex Date | Reinvest Date | Reinvest Price |
---|---|---|---|---|---|---|
Destinations Multi Strategy Alternatives Fund | 10964R871 | Dividend | 0.090809 | 9/26/2019 | 9/26/2019 | $9.47 |
Destinations Multi Strategy Alternatives Fund | 10964R871 | Dividend | 0.125101 | 6/27/2019 | 6/27/2019 | $9.66 |
Destinations Multi Strategy Alternatives Fund | 10964R871 | Dividend | 0.040985 | 3/28/2019 | 3/28/2019 | $9.69 |
Destinations Multi Strategy Alternatives Fund | 10964R871 | Dividend | 0.128265 | 12/27/2018 | 12/27/2018 | $9.13 |
Destinations Multi Strategy Alternatives Fund | 10964R871 | Short-Term Capital Gains | 0.033439 | 12/17/2018 | 12/17/2018 | $9.40 |
Destinations Multi Strategy Alternatives Fund | 10964R871 | Long-Term Capital Gains | 0.139370 | 12/17/2018 | 12/17/2018 | $9.40 |
Destinations Multi Strategy Alternatives Fund | 10964R871 | Dividend | 0.112707 | 9/27/2018 | 9/27/2018 | $10.19 |
Destinations Multi Strategy Alternatives Fund | 10964R871 | Dividend | 0.078010 | 6/28/2018 | 6/28/2018 | $10.16 |
Destinations Multi Strategy Alternatives Fund | 10964R871 | Dividend | 0.032931 | 3/28/2018 | 3/28/2018 | $10.13 |
Destinations Multi Strategy Alternatives Fund | 10964R871 | Dividend | 0.089683 | 12/28/2017 | 12/28/2017 | $10.09 |
Destinations Multi Strategy Alternatives Fund | 10964R871 | Dividend | 0.066462 | 9/28/2017 | 9/28/2017 | $10.09 |
Destinations Multi Strategy Alternatives Fund | 10964R871 | Dividend | 0.044799 | 6/29/2017 | 6/29/2017 | $10.11 |
Fees and expenses
Type | Amount |
---|---|
Management Fees | 1.35% |
Distribution and Service (12b-1) Fees | None |
Other Expenses | 0.36% |
AFFE | 0.36% |
Total Annual Fund Operating Expenses | 2.07% |
Fee waivers and expense reimbursements | (0.48%) |
Total Annual Fund Operating Expenses Less Fee Waivers and Expense Reimbursements | 1.59%* |
*Effective June 30, 2019, the Fund’s adviser, Brinker Capital, Inc. (“Brinker” or the “Adviser”), has contractually agreed to waive a portion of its management fee for a period of one year as necessary to keep the Fund’s management fee from exceeding 0.39% more than the total amount of sub-advisory fees paid by the Adviser. This contractual waiver will only apply if the Fund’s total management fees exceed the total amount of sub-advisory fees paid by the Adviser plus 0.39%, and will not affect the Fund’s total management fees if they are less than such amount. This fee waiver and reimbursement agreement shall remain in effect until June 30, 2020. The agreement may be amended or terminated only with the consent of the Board of Trustees.
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.
Employing a multi-manager approach, the Fund currently allocates assets among the following sub-advisers:
- Avenue Capital Group II, L.P. is the sub-adviser of Avenue Credit Strategies which employs a total return, event driven approach supported by in-depth bottom up credit research, resulting in a focused portfolio diversified across capital structure and geography.
- Driehaus Capital Management LLC is the sub-adviser of Driehaus Event Driven which seeks asymmetric payoff profiles in directional long, directional short and relative value arbitrage strategies, focusing on liquid credit, equity and derivative securities.
- The JPMorgan Strategic Income Opportunities Fund is an absolute return oriented strategy that invests flexibly across traditional, alternative and private fixed income, seeking to provide uncorrelated, low volatility returns across market environments.
- RiverNorth Capital Management, LLC is the sub-adviser of RiverNorth Opportunities which seeks to exploit the anomaly of closed-end fund discounts in the secondary market through investing in equity, fixed income and hybrid closed-end funds.
- LMCG Investments, LLC is the sub-adviser of the LMCG Serenitas Relative Value Credit Strategy which employs a quantitative approach based on proprietary analytics to exploit pricing inefficiencies in structured credit markets.
Z Share Fund performance as of 9/30/2019 | ||||||||||||||
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Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. Performance data current to the most recent month-end may be obtained by calling 1-877-771-7979.
*Effective June 30, 2019, the Fund’s adviser, Brinker Capital, Inc. (“Brinker” or the “Adviser”), has contractually agreed to waive a portion of its management fee for a period of one year as necessary to keep the Fund’s management fee from exceeding 0.39% more than the total amount of sub-advisory fees paid by the Adviser. This contractual waiver will only apply if the Fund’s total management fees exceed the total amount of sub-advisory fees paid by the Adviser plus 0.39%, and will not affect the Fund’s total management fees if they are less than such amount. This fee waiver and reimbursement agreement shall remain in effect until June 30, 2020. The agreement may be amended or terminated only with the consent of the Board of Trustees.
HFRX Global Hedge Fund Index Definition: An asset weighted index comprised of all eligible hedge fund strategies, designed to be representative of the overall composition of the hedge fund universe. One cannot invest directly in an index.
An investment in the Destinations Multi Strategy Alternatives Fund is subject to risk, including the possible loss of principal amount invested.
Derivatives, such as futures, involve risks different from, or possibly greater than, risks associated with investing directly in securities and other traditional investments. Specific risk issues include tax issues, increased potential for losses and/or costs to the Fund, and a potential reduction in gains to the Fund.
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 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.
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.
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.
The risk that debt instruments quality are predominantly speculative. Known as ‘junk bonds,’ these have a higher degree of default risk and may be less liquid than higher-rated bonds, may be subject to greater price volatility.
Liquidity risk refers to the possibility that securities cannot be readily sold within seven days at approximately the price at which the Fund has valued them.
Mid-capitalization companies may be newer or less established than large-capitalization companies, and may have limited resources, products and markets, can be more volatile and may be less liquid. Stocks of smaller companies may be subject to more abrupt or erratic market movements than stocks of larger, more established companies and typically are traded in lower volume, are less liquid. These risks may be heightened with respect to micro-cap companies.
Real estate investment trusts (REITs) are trusts that invest primarily in commercial real estate or real estate-related loans. 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.
With 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.
Short sale risk involve 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. Theoretically the potential loss resulting from short sales is unlimited.
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.
- Ticker: DMSZX
- CUSIP: 10964R772
- Benchmark: HFRX Global Hedge Fund Index
- Inception date: 07/16/2018
- Gross expense ratio: 1.92%
- Net expense ratio: 1.44%*
Daily NAV | Date: | 12/04/2019 |
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NAV: $9.29 -
NAV change: $0.01 -
Total assets ($m): $39.0
Management team
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Jeffrey W. Raupp Chief Investment Officer
Jeffrey W. Raupp, CFA, MBA, is Chief Investment Officer at Brinker Capital with portfolio management responsibilities for the Destinations program. He also serves as chair of Brinker Capital’s asset allocation committee. Mr. Raupp joined Brinker Capital in 1996 as an operations manager and has been a portfolio manager for the Destinations program since 2001. Prior to joining Brinker Capital, Mr. Raupp was an electronic engineer and project manager for a small electronics firm. He also served as an officer in the United States Army. Mr. Raupp has a B.S. in Mechanical Engineering from the University of Delaware and a MBA in Finance from Villanova University.
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Amy L. Magnotta Senior Vice President
Amy L. Magnotta, CFA, is a Senior Vice President at Brinker Capital with portfolio management responsibilities for the Destinations program. Ms. Magnotta joined Brinker Capital in 2006 as a senior analyst and has been portfolio manager for the Destinations program since 2007. Prior to joining Brinker Capital, Ms. Magnotta was an associate at Franklin Park Associates from 2004 to 2006 and an associate at BlackRock from 2001 to 2004. Ms. Magnotta has a B.S. in Finance from Lehigh University.
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Leigh A. Lowman Investment Manager
Leigh A. Lowman, CFA is an Investment Manager at Brinker Capital with portfolio management responsibilities for the Destinations program. Prior to joining Brinker Capital in 2015, Ms. Lowman was an outreach analyst for The Investment Fund for Foundations (TIFF) and a senior associate for Mondrian Investment Partners. Ms. Lowman was previously at Brinker Capital from 2004 to 2010 as an investment associate and operations analyst. Ms. Lowman has a B.A. in Economics from Wittenberg University.
Performance
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HFRX Global Hedge Fund Index |
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Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. Performance data current to the most recent month-end may be obtained by calling 1-877-771-7979.
*Effective June 30, 2019, the Fund’s adviser, Brinker Capital, Inc. (“Brinker” or the “Adviser”), has contractually agreed to waive a portion of its management fee for a period of one year as necessary to keep the Fund’s management fee from exceeding 0.39% more than the total amount of sub-advisory fees paid by the Adviser. This contractual waiver will only apply if the Fund’s total management fees exceed the total amount of sub-advisory fees paid by the Adviser plus 0.39%, and will not affect the Fund’s total management fees if they are less than such amount. This fee waiver and reimbursement agreement shall remain in effect until June 30, 2020. The agreement may be amended or terminated only with the consent of the Board of Trustees.
HFRX Global Hedge Fund Index Definition: An asset weighted index comprised of all eligible hedge fund strategies, designed to be representative of the overall composition of the hedge fund universe. One cannot invest directly in an index.
Holdings
Security Description | Ticker Symbol | Security ID | Security Type Description | Quantity | Base Market Value | Percent TNA |
---|---|---|---|---|---|---|
CANADIAN DOLLAR | CASHCAD | CURRENCY | .0500 | .04 | .00 | |
EURO | CASHEUR | CURRENCY | -1.9000 | -2.09 | -.00 | |
BRITISH POUNDS | CASHGBP | CURRENCY | .0100 | .01 | .00 | |
US DOLLARS | CASHUSD | CURRENCY | 155,296,844.6000 | 155,296,844.60 | 17.20 | |
BELLUS HEALTH INC | 07987C204 | COMMON STOCK | 106,009.0000 | 742,063.00 | .08 | |
ULTRA PETROLE WT EX 7/14/25 | 903914117 | WARRANTS | 190,596.0000 | 1,905.96 | .00 | |
HERBALIFE NUTRITION LTD | HLF | B0539H3 | COMMON STOCK | -10,117.0000 | -461,436.37 | -.05 |
FGL HOLDINGS | FG | BD063H6 | COMMON STOCK | 1,162,479.0000 | 10,613,433.27 | 1.18 |
TWELVE SEAS INVESTMENT CO | BROG | BF1H7N6 | COMMON STOCK | 18,561.0000 | 190,807.08 | .02 |
ANDINA ACQUISITION CORP III | ANDAU | BGK43L5 | OTHER EQUITY | 42,105.0000 | 418,944.75 | .05 |
ACT II GLOBAL ACQUISITION CO | ACTTU | BJK4CL9 | OTHER EQUITY | 42,677.0000 | 433,171.55 | .05 |
FELLAZO INC | FLLCU | BK5CXY5 | OTHER EQUITY | 37,048.0000 | 373,443.84 | .04 |
ALUSSA ENERGY ACQUISITION CO | ALUS/U | BL1GTJ5 | OTHER EQUITY | 87,675.0000 | 877,626.75 | .10 |
TWELVE SEAS INVESTMENT CO WT EX 07/13/23 | G9145A115 | WARRANTS | 18,561.0000 | 10,392.30 | .00 | |
TWELVE SEAS INVESTMENT COMPANY RTS 12/31/49 | G9145A131 | RIGHTS | 18,561.0000 | 11,693.43 | .00 | |
ASCENDIS PHARMA A/S - ADR | ASND | 04351P101 | COMMON STOCK | 40,341.0000 | 4,646,476.38 | .51 |
ALLERGAN PLC | AGN | G0177J108 | COMMON STOCK | 51,621.0000 | 9,546,787.74 | 1.06 |
ARGENX SE - ADR | ARGX | 04016X101 | COMMON STOCK | 75,274.0000 | 11,144,315.70 | 1.23 |
MERUS NV | MRUS | BZBY005 | COMMON STOCK | 362,083.0000 | 5,967,127.84 | .66 |
ORCHARD THERAPEUTICS PLC | ORTX | 68570P101 | COMMON STOCK | 445,158.0000 | 5,070,349.62 | .56 |
ABBVIE INC | ABBV | 00287Y109 | COMMON STOCK | -44,703.0000 | -3,921,794.19 | -.43 |
ABERDEEN EM MRKT EQTY INC | AEF | 00301W105 | POOLED INVESTMENTS | 289,680.0000 | 2,054,120.88 | .23 |
ABERDEEN TTL DYN DIVID | AOD | 00326L100 | POOLED INVESTMENTS | 726,879.0000 | 6,265,696.98 | .69 |
ALLIANZGI NFJ DIVIDEND INTER | XNFJX | 01883A107 | POOLED INVESTMENTS | 407,910.0000 | 5,217,168.90 | .58 |
ALPHATEC HOLDINGS INC | 02081G201 | COMMON STOCK | 340,962.0000 | 2,403,782.10 | .27 | |
AMPLITUDE HEALTHCARE ACQUISI | 03212A204 | OTHER EQUITY | 62,007.0000 | 618,829.86 | .07 | |
B RILEY PRINCIPAL MERGER COR | BRPM/U | 05586Y205 | OTHER EQUITY | 36,775.0000 | 375,105.00 | .04 |
BARINGS BDC INC | BBDC | 06759L103 | COMMON STOCK | 621,187.0000 | 6,466,556.67 | .72 |
BIG ROCK PARTNERS ACQUISITIO | BRPA | 089482103 | COMMON STOCK | 50,724.0000 | 532,602.00 | .06 |
BIG ROCK PARTNERS ACQUITITIO WT EX 12/1/22 | 089482111 | WARRANTS | 25,362.0000 | 3,933.65 | .00 | |
BIG ROCK PARTNERS ACQUISITION CORP RTS 12/31/49 | 089482129 | RIGHTS | 50,724.0000 | 12,681.00 | .00 | |
BIG ROCK PARTNERS ACQUISITIO | BRPAU | 089482202 | OTHER EQUITY | 1.0000 | 10.65 | .00 |
BIOMX INC WT EX 10/28/24 | 09090D111 | WARRANTS | 32,931.0000 | 15,477.57 | .00 | |
BLACKROCK CALIFOR MUNI IN TR | BFZ | 09248E102 | POOLED INVESTMENTS | 36,863.0000 | 495,807.35 | .05 |
BLACKROCK NEW YORK MUNICIPAL | BSE | 09249U105 | POOLED INVESTMENTS | 135,474.0000 | 1,845,440.38 | .20 |
BLACKROCK DEBT STRATEGIES FD | 09255R202 | POOLED INVESTMENTS | 628,413.0000 | 6,855,985.83 | .76 | |
BLACKROCK RESOURCES & COMMOD | BCX | 09257A108 | POOLED INVESTMENTS | 170,255.0000 | 1,304,153.30 | .14 |
BLUEPRINT MEDICINES CORP | BPMC | 09627Y109 | COMMON STOCK | 24,433.0000 | 2,004,483.32 | .22 |
BOXWOOD MERGER CORP-CLASS A | BWMC | 10319T101 | COMMON STOCK | 33,529.0000 | 337,972.32 | .04 |
BRANDYWINEGLOBAL GLOBAL INCO | 10537L104 | POOLED INVESTMENTS | 572,845.0000 | 7,023,079.70 | .78 | |
CF FINANCE ACQUISITION CORP | CFFAU | 12528N206 | OTHER EQUITY | 24,648.0000 | 258,064.56 | .03 |
CAPITAL SOUTHWEST CORP /PFD/ | CSWCL | 140501206 | PREFERRED STOCK | 21,207.0000 | 551,382.00 | .06 |
CHASERG TECHNOLOGY ACQUISI-A | CTAC | 16166A103 | COMMON STOCK | 28,503.0000 | 312,107.85 | .03 |
CHASERG TECHNOLOGY WT EX 09/30/2023 | CTACW | 16166A111 | WARRANTS | 14,251.0000 | 28,502.00 | .00 |
CHURCHILL CAPITAL CORP II | CCX/U | 17143G205 | OTHER EQUITY | 18,907.0000 | 204,195.60 | .02 |
CLEAR CHANNEL OUTDOOR HOLDINGS | CCO | 18453H106 | COMMON STOCK | 947,028.0000 | 2,348,629.44 | .26 |
CLOUGH GLOBAL EQUITY FUND | GLQ | 18914C100 | POOLED INVESTMENTS | 194,244.0000 | 2,328,985.56 | .26 |
CLOUGH GLBL OPPORTUNITIES FD | GLO | 18914E106 | POOLED INVESTMENTS | 439,455.0000 | 4,126,482.45 | .46 |
CONSOLIDATED COMMUNICATIONS | CNSL | 209034107 | COMMON STOCK | 664,737.0000 | 2,412,995.31 | .27 |
CORNERSTONE STRATEGIC VALUE | CLM | 21924B302 | POOLED INVESTMENTS | 107,605.0000 | 1,212,708.35 | .13 |
CYTOKINETICS INC | 23282W605 | COMMON STOCK | 624,303.0000 | 6,037,010.01 | .67 | |
DELAWARE ENHANCED GLOBAL DIV | DEX | 246060107 | POOLED INVESTMENTS | 306,785.0000 | 3,104,664.20 | .34 |
DIAMOND EAGLE ACQUISITION CO | 25258L208 | OTHER EQUITY | 483,000.0000 | 5,071,500.00 | .56 | |
DUFF & PHELPS UTIL & CORP BD | DUC | 26432K108 | POOLED INVESTMENTS | 74,660.0000 | 677,912.80 | .08 |
EATON VANCE SENIOR INCOME TR | EVF | 27826S103 | POOLED INVESTMENTS | 268,807.0000 | 1,677,355.68 | .19 |
EATON VANCE FLOATING-RATE IN | EFF | 278284104 | POOLED INVESTMENTS | 64,525.0000 | 1,006,590.00 | .11 |
EATON VANCE LTD DURATION FND | EVV | 27828H105 | POOLED INVESTMENTS | 781,133.0000 | 10,076,615.70 | 1.12 |
EATON VANCE TAX-MGD B/W STR | EXD | 27829M103 | POOLED INVESTMENTS | 162,438.0000 | 1,647,121.32 | .18 |
EDTECHX HOLDINGS ACQUISITION | EDTXU | 28138X202 | OTHER EQUITY | 28,503.0000 | 293,580.90 | .03 |
FAR POINT ACQUISITION CORP-A | FPAC | 30734W109 | COMMON STOCK | 16,206.0000 | 166,111.50 | .02 |
FAR PT ACQUISITIO WT EX 6/1/25 | FPACWS | 30734W117 | WARRANTS | 5,402.0000 | 6,590.44 | .00 |
FAR POINT ACQUISITION CORP | FPAC/U | 30734W208 | OTHER EQUITY | 2.0000 | 21.44 | .00 |
FINTECH ACQUISITION CORP III | FTACU | 31811A309 | OTHER EQUITY | 25,081.0000 | 268,366.70 | .03 |
GDL FUND/THE | GDL | 361570104 | POOLED INVESTMENTS | 40,366.0000 | 372,457.08 | .04 |
GABELLI DIVIDEND & INCOME TR | GDV | 36242H104 | POOLED INVESTMENTS | 25,016.0000 | 526,836.96 | .06 |
GABELLI DIVIDEND & INCOME TR | 36242H120 | POOLED INVESTMENTS | 7.0000 | .00 | .00 | |
GX ACQUISITION CORP | GXGXU | 36251A206 | OTHER EQUITY | 35,473.0000 | 366,436.09 | .04 |
GARRISON CAPITAL INC | GARS | 366554103 | COMMON STOCK | 243,548.0000 | 1,473,465.40 | .16 |
GENERAL AMERICAN INVEST PREFERRED SERIES B | GAM PRB | 368802401 | POOLED INVESTMENTS | 24,494.0000 | 665,991.86 | .07 |
GIGCAPITAL2 INC | GIX/U | 375036209 | OTHER EQUITY | 38,120.0000 | 396,066.80 | .04 |
GORDON POINTE ACQUISITION CO | GPAQ | 382788107 | COMMON STOCK | 16,736.0000 | 176,062.72 | .02 |
GORDON POINTE ACQUISITION CORP WT EX 07/29/24 | GPAQW | 382788115 | WARRANTS | 16,736.0000 | 5,275.19 | .00 |
GRAF INDUSTRIAL CORP | GRAF/U | 384278206 | OTHER EQUITY | 43,099.0000 | 453,401.48 | .05 |
GREENVISION ACQUISITION CORP | GRNVU | 39678G202 | OTHER EQUITY | 85,388.0000 | 856,441.64 | .09 |
HC2 HOLDINGS INC | HCHC | 404139107 | COMMON STOCK | 199,938.0000 | 427,867.32 | .05 |
JOHN HANCOCK TAX-ADVANTAGED | HTY | 41013P749 | POOLED INVESTMENTS | 89,742.0000 | 623,706.90 | .07 |
HARBORONE BANCORP INC | HONE | 41165Y100 | COMMON STOCK | 506,355.0000 | 5,372,426.55 | .60 |
HAYMAKER ACQUISITION CORP II | 42087L200 | OTHER EQUITY | 26,238.0000 | 273,924.72 | .03 | |
HEALTH SCIENCES ACQUISITIONS | HSAC | 42227C102 | COMMON STOCK | 22,488.0000 | 235,674.24 | .03 |
HEALTH SCIENCES WT EX 04/01/24 | 42227C110 | WARRANTS | 22,488.0000 | 20,617.00 | .00 | |
HENNESSY CAPITAL ACQUISITION | HCACU | 42589C203 | OTHER EQUITY | 32,628.0000 | 352,056.12 | .04 |
HIGHLAND INCOME FUND | HFRO | 43010E404 | POOLED INVESTMENTS | 216,194.0000 | 2,501,364.58 | .28 |
HIGHLAND GLOBAL ALLOCATION | HGLB | 43010T104 | POOLED INVESTMENTS | 55,357.0000 | 488,802.31 | .05 |
IDEAYA BIOSCIENCES INC | IDYA | 45166A102 | COMMON STOCK | 23,446.0000 | 179,361.90 | .02 |
INDIA FUND INC | IFN | 454089103 | POOLED INVESTMENTS | 46,015.0000 | 946,068.40 | .10 |
INSPIRE MEDICAL SYSTEMS INC | INSP | 457730109 | COMMON STOCK | 50,769.0000 | 3,602,568.24 | .40 |
INSURANCE ACQUISITION CORP | INSUU | 457867307 | OTHER EQUITY | 40,972.0000 | 422,421.32 | .05 |
INVESCO HIGH INCOME TRUST II | VLT | 46131F101 | POOLED INVESTMENTS | 243,396.0000 | 3,478,128.84 | .39 |
INVESCO SENIOR INCOME TRUST | VVR | 46131H107 | POOLED INVESTMENTS | 928,440.0000 | 3,890,163.60 | .43 |
INVESCO MUNICIPAL OPPORTUNI | VMO | 46132C107 | POOLED INVESTMENTS | 33,529.0000 | 416,094.89 | .05 |
INVESCO DYNAMIC CREDIT OPP | VTA | 46132R104 | POOLED INVESTMENTS | 523,561.0000 | 5,827,233.93 | .65 |
INVESCO SENIOR LOAN ETF | 46138G508 | POOLED INVESTMENTS | -202,997.0000 | -4,559,312.62 | -.51 | |
ISHARES NASDAQ BIOTECHNOLOGY | IBB | 464287556 | POOLED INVESTMENTS | -87,693.0000 | -10,492,467.45 | -1.16 |
ISHARES IBOXX HIGH YLD CORP | HYG | 464288513 | POOLED INVESTMENTS | -118,400.0000 | -10,293,696.00 | -1.14 |
JPMORGAN STRAT INC OPP-R6 | JSOZX | 48121L114 | POOLED INVESTMENTS | 14,852,423.9120 | 170,357,302.27 | 18.87 |
JUNIPER INDUSTRIAL HOLDINGS | JIH/U | 48205G205 | OTHER EQUITY | 1,676.0000 | 16,793.52 | .00 |
KAYNE ANDERSON MLP/MIDSTREAM | KYN | 486606106 | POOLED INVESTMENTS | 245,676.0000 | 3,083,233.80 | .34 |
KCAP FINANCIAL INC PREFERRED | KCAPL | 48668E309 | PREFERRED STOCK | 19,935.0000 | 504,754.20 | .06 |
KEARNY FINANCIAL CORP/MD | KRNY | 48716P108 | COMMON STOCK | 410,186.0000 | 5,783,622.60 | .64 |
LF CAPITAL ACQUISITION COR-A | LFAC | 50200K108 | COMMON STOCK | 2,813.0000 | 28,805.12 | .00 |
LF CAP ACQUISITI WT EX 6/27/23 | LFACW | 50200K116 | WARRANTS | 2,813.0000 | 984.55 | .00 |
LANDCADIA HOLDINGS II INC | 51476X204 | OTHER EQUITY | 48,677.0000 | 489,203.85 | .05 | |
LAZARD WORLD DIVIDEND & INCO | LOR | 521076109 | POOLED INVESTMENTS | 74,313.0000 | 724,551.75 | .08 |
LEGACY ACQUISITION CORP WT EX 11/21/24 | LGCWS | 524643111 | WARRANTS | 42,092.0000 | 18,099.56 | .00 |
LEISURE ACQUISITION CORP | LACQ | 52539T107 | COMMON STOCK | 61,709.0000 | 636,836.88 | .07 |
LEISURE ACQUISITION CORP WT EXP 12/28/2022 | 52539T115 | WARRANTS | 30,854.0000 | 18,564.85 | .00 | |
LEISURE ACQUISITION CORP | LACQU | 52539T206 | OTHER EQUITY | 1.0000 | 10.61 | .00 |
MEDICINES COMPANY | MDCO | 584688105 | COMMON STOCK | 65,000.0000 | 5,473,000.00 | .61 |
MERIDA MERGER CORP I | 58953M205 | OTHER EQUITY | 101,645.0000 | 1,013,400.65 | .11 | |
MONOCLE ACQUISITION CORP | MNCLU | 609754205 | OTHER EQUITY | 10,785.0000 | 108,389.25 | .01 |
MYOKARDIA INC | MYOK | 62857M105 | COMMON STOCK | 137,251.0000 | 8,941,902.65 | .99 |
NEUBERGER BERMAN CA MUNI | NBW | 64123C101 | POOLED INVESTMENTS | 8,101.0000 | 111,064.71 | .01 |
NEUBERGER BERMAN NY MUNI | NBO | 64124K102 | POOLED INVESTMENTS | 63,887.0000 | 789,643.32 | .09 |
NEUBERGER BERMAN HIGH YIELD | NHS | 64128C106 | POOLED INVESTMENTS | 56,956.0000 | 685,750.24 | .08 |
NEXPOINT STRATEGIC OPPORTUNI | 65340G205 | POOLED INVESTMENTS | 153,606.0000 | 2,586,725.04 | .29 | |
NUVEEN AMT-FREE QTY MUN INC FD | NEA | 670657105 | POOLED INVESTMENTS | 121,126.0000 | 1,707,876.60 | .19 |
NUVEEN INT DUR QU MUN TRM FD | NIQ | 670677103 | POOLED INVESTMENTS | 73,723.0000 | 1,013,484.83 | .11 |
NUVEEN AMT-FR MUNI CREDIT FD | NVG | 67071L106 | POOLED INVESTMENTS | 295,005.0000 | 4,764,330.75 | .53 |
NUVEEN GA QUAL MUNI INC FD | NKG | 67072B107 | POOLED INVESTMENTS | 163,102.0000 | 2,033,881.94 | .23 |
NUVEEN CREDIT STRAT INCM | JQC | 67073D102 | POOLED INVESTMENTS | 719,182.0000 | 5,336,330.44 | .59 |
NUVEEN MRTG OPPRT TRM 2 | JMT | 67074R100 | POOLED INVESTMENTS | 25,219.0000 | 556,583.33 | .06 |
NUVEEN OH QUAL MUNI INC FD | NUO | 670980101 | POOLED INVESTMENTS | 32,861.0000 | 513,946.04 | .06 |
OCEANFIRST FINANCIAL CORP | OCFC | 675234108 | COMMON STOCK | 102,249.0000 | 2,451,931.02 | .27 |
ODONATE THERAPEUTICS INC | ODT | 676079106 | COMMON STOCK | 108,781.0000 | 3,739,890.78 | .41 |
OPES ACQUISITION CORP | OPES | 68373P100 | COMMON STOCK | 18,239.0000 | 190,779.94 | .02 |
OPES ACQUISITION CORP WT EX 1/15/23 | OPESW | 68373P118 | WARRANTS | 18,239.0000 | 2,265.28 | .00 |
OSPREY TECHNOLOGY ACQUISITIO | SFTW/U | 68839R401 | OTHER EQUITY | 49,581.0000 | 496,305.81 | .05 |
OXFORD SQUARE CAP CORP /PFD/ | OXSQL | 69181V206 | PREFERRED STOCK | 11,832.0000 | 295,918.32 | .03 |
OXFORD SQUARE CAPITAL CO /PFD/ | 69181V305 | PREFERRED STOCK | 32,706.0000 | 805,875.84 | .09 | |
PGIM HIGH YIELD BOND FUND | 69346H100 | POOLED INVESTMENTS | 150,257.0000 | 2,246,342.15 | .25 | |
PGIM GLOBAL HIGH YIELD FUND | GHY | 69346J106 | POOLED INVESTMENTS | 632,568.0000 | 9,191,213.04 | 1.02 |
PIMCO ENRGY & TACT CRDT | NRGX | 69346N107 | POOLED INVESTMENTS | 130,367.0000 | 2,058,494.93 | .23 |
PENNANTPARK INVESTMENT C /PFD/ | PNNTG | 708062401 | PREFERRED STOCK | 60,018.0000 | 1,500,450.00 | .17 |
PENSARE ACQUI WT EX 8/8/22 | 70957E113 | WARRANTS | 36,319.0000 | 8,135.46 | .00 | |
PENSARE ACQUISITION CORP RTS 12/31/49 | 70957E121 | RIGHTS | 72,639.0000 | 20,121.00 | .00 | |
PIVOTAL ACQUISITION CORP-A | PVT | 72583A101 | COMMON STOCK | 14,462.0000 | 146,355.44 | .02 |
PIVOTAL ACQUISITION CORP WT EX 03/25/2024 | PVTWS | 72583A119 | WARRANTS | 14,462.0000 | 11,135.74 | .00 |
PROFICIENT ALPHA ACQUISITION | 74317H204 | OTHER EQUITY | 95,271.0000 | 952,710.00 | .11 | |
PROPTECH ACQUISITION CORPORA | PTACU | 74349F200 | OTHER EQUITY | 32,032.0000 | 324,804.48 | .04 |
PURE ACQUISITION CORP | PACQ | 74621Q106 | COMMON STOCK | 30,656.0000 | 316,676.48 | .04 |
PURE ACQUISITIO CORP WT EX 04/17/23 | PACQW | 74621Q114 | WARRANTS | 15,328.0000 | 16,094.40 | .00 |
PURE ACQUISITION CORP | PACQU | 74621Q205 | OTHER EQUITY | 1.0000 | 10.65 | .00 |
PUTNAM MUNI OPPORTUNITIES TR | PMO | 746922103 | POOLED INVESTMENTS | 145,757.0000 | 1,931,280.25 | .21 |
RA PHARMACEUTICALS INC | RARX | 74933V108 | COMMON STOCK | -52,768.0000 | -2,465,848.64 | -.27 |
ROYCE MICRO-CAP TRUST INC | RMT | 780915104 | POOLED INVESTMENTS | 269,917.0000 | 2,234,912.76 | .25 |
SPDR S&P REGIONAL BANKING ETF_ | KRE | 78464A698 | POOLED INVESTMENTS | -137,460.0000 | -7,728,001.20 | -.86 |
SPDR S&P BIOTECH ETF | XBI | 78464A870 | POOLED INVESTMENTS | -263,905.0000 | -24,714,703.25 | -2.74 |
SPDR BBG BARC ST HIGH YIELD | SJNK | 78468R408 | POOLED INVESTMENTS | -103,000.0000 | -2,749,070.00 | -.30 |
SCHULTZE SPECIAL PURPOSE ACQ | SAMAU | 80821R208 | OTHER EQUITY | 43,473.0000 | 452,119.20 | .05 |
SI-BONE INC | 825704109 | COMMON STOCK | 253,708.0000 | 4,513,465.32 | .50 | |
SOURCE CAPITAL INC | SOR | 836144105 | POOLED INVESTMENTS | 54,596.0000 | 2,076,285.88 | .23 |
SOUTH MOUNTAIN MERGER CORP | SMMCU | 838884203 | OTHER EQUITY | 51,279.0000 | 520,481.85 | .06 |
SPECIAL OPPORTUNITIES FUND | XXPIFXX | 84741T104 | POOLED INVESTMENTS | 106,401.0000 | 1,529,056.85 | .17 |
STABLE ROAD ACQUISITION CORP | SRACU | 85236Q208 | OTHER EQUITY | 16,858.0000 | 169,760.06 | .02 |
SUTRO BIOPHARMA INC | STRO | 869367102 | COMMON STOCK | 63,596.0000 | 704,643.68 | .08 |
SWISS HELVETIA FUND | SWZ | 870875101 | POOLED INVESTMENTS | 141,430.0000 | 1,148,425.74 | .13 |
THL CREDIT INC /PFD/ | TCRW | 872438403 | PREFERRED STOCK | 34,533.0000 | 899,957.61 | .10 |
TEMPLETON GLOBAL INCOME FUND | GIM | 880198106 | POOLED INVESTMENTS | 1,109,063.0000 | 6,521,290.44 | .72 |
TIBERIUS ACQUISITION CORP | TIBR | 88633A107 | COMMON STOCK | 8,304.0000 | 86,444.64 | .01 |
TIBERIUS ACQUISITION CORP WT EX 04/10/23 | TIBRW | 88633A115 | WARRANTS | 8,304.0000 | 9,632.64 | .00 |
TORTOISE MIDSTREAM ENERGY | NTG | 89148B101 | POOLED INVESTMENTS | 62,891.0000 | 621,363.08 | .07 |
TREVI THERAPEUTICS INC | TRVI | 89532M101 | COMMON STOCK | 101,038.0000 | 355,653.76 | .04 |
TRIDENT ACQUISITIONS CORP | TDAC | 89615T106 | COMMON STOCK | 4,232.0000 | 44,647.60 | .00 |
TRIDENT ACQUISITIONS CORP WT EX 06/13/2021 | TDACW | 89615T114 | WARRANTS | 4,232.0000 | 323.32 | .00 |
TRIPLEPOINT VENTURE GROW/PFD/ | TPVY | 89677Y308 | PREFERRED STOCK | 28,346.0000 | 729,892.49 | .08 |
TUSCAN HOLDINGS CORP | 90069K203 | OTHER EQUITY | 32,225.0000 | 335,140.00 | .04 | |
VAPOTHERM INC | VAPO | 922107107 | COMMON STOCK | 97,259.0000 | 1,075,684.54 | .12 |
VECTOR GROUP LTD | VGR | 92240M108 | COMMON STOCK | -21,722.0000 | -291,943.68 | -.03 |
VECTOIQ ACQUISITION CORP | VTIQ | 92243N103 | COMMON STOCK | 17,313.0000 | 177,804.51 | .02 |
VECTOIQ ACQUISITION CORP WT EX 06/11/2023 | VTIQW | 92243N111 | WARRANTS | 17,313.0000 | 9,425.20 | .00 |
VOYA EMRG MRKTS HI INC DVD | IHD | 92912P108 | POOLED INVESTMENTS | 123,590.0000 | 935,576.30 | .10 |
VOYA GLBL EQTY DVD & PRM OPP | IGD | 92912T100 | POOLED INVESTMENTS | 2,448.0000 | 15,006.24 | .00 |
VOYA PRIME RATE TRUST | 92913A100 | POOLED INVESTMENTS | 1,122,686.0000 | 5,422,573.38 | .60 | |
VOYA NATURAL RESOURCES EQUIT | IRR | 92913C106 | POOLED INVESTMENTS | 113,981.0000 | 429,708.37 | .05 |
WESTERN ASSET GLOBAL HIGH IN | EHI | 95766B109 | POOLED INVESTMENTS | 305,810.0000 | 2,960,240.80 | .33 |
WESTERN ASSET HI INC OPPORT | HIO | 95766K109 | POOLED INVESTMENTS | 595,886.0000 | 2,979,430.00 | .33 |
WESTERN ASSET CORPORATE LOAN | TLI | 95790J102 | POOLED INVESTMENTS | 6,596.0000 | 63,321.60 | .01 |
X4 PHARMACEUTICALS INC WT EX 4/12/24 | XFORW | 98420X111 | WARRANTS | 23,299.0000 | 81,546.50 | .01 |
ZAYO GROUP HOLDINGS INC | ZAYO | 98919V105 | COMMON STOCK | 260,750.0000 | 8,928,080.00 | .99 |
BOXWOOD MERGER WT EX 11/26/25 | BHXKPH7 | WARRANTS | 33,529.0000 | 23,470.30 | .00 | |
WEALTHBRIDGE ACQUISITION LTD | HHHH | BGMHQ57 | COMMON STOCK | 32,363.0000 | 327,189.93 | .04 |
WEALTHBRIDGE ACQUISITION LTD WT EX 3/1/24 | BGMHQ68 | WARRANTS | 32,363.0000 | 2,912.67 | .00 | |
WEALTHBRIDGE ACQUISITION LTD RTS 12/31/2099 | BGMHQ79 | RIGHTS | 32,363.0000 | 9,890.13 | .00 | |
ALBERTON ACQUISITION CORP | ALACU | BGT0TJ4 | OTHER EQUITY | 41,641.0000 | 439,312.55 | .05 |
DD3 ACQUISITION CORP | DDMX | BGT3SG3 | COMMON STOCK | 43,875.0000 | 445,331.25 | .05 |
DD3 ACQUISITION CORP WT EX 10/12/25 | BGT3SH4 | WARRANTS | 43,875.0000 | 18,019.46 | .00 | |
8I ENTERPRISES ACQUISITION C | JFK | BJVJNF4 | COMMON STOCK | 76,557.0000 | 767,101.14 | .08 |
8I ENTERPRISES ACQUISITION C WT EX 10/1/25 | BJVJNH6 | WARRANTS | 76,557.0000 | 28,326.09 | .00 | |
8I ENTERPRIS ACQUISITI RTS 12/31/49 | BJVJNL0 | RIGHTS | 76,557.0000 | 27,560.52 | .00 | |
AGBA ACQUISITION LTD | AGBAU | BK5NCD0 | OTHER EQUITY | 100,702.0000 | 1,023,132.32 | .11 |
ENDO DAC/FIN LLC/F 6% 02/01/25 | 29273EAA6 | CORPORATE BONDS | 5,238,000.0000 | 3,260,655.00 | .36 | |
AMERICAN ENERGY P 12% 10/01/24 | 02563LAJ7 | CORPORATE BONDS | 2,252,000.0000 | 1,384,980.00 | .15 | |
ARROW BIDCO LLC 9.5% 03/15/24 | 042728AA3 | CORPORATE BONDS | 6,715,000.0000 | 6,362,462.50 | .70 | |
AVON PRODUCTS I 8.95% 03/15/43 | AVP43 | 054303AZ5 | CORPORATE BONDS | 8,000,000.0000 | 9,920,000.00 | 1.10 |
BALTA 2004-8 1A V/R 09/25/34 | 07386HKS9 | ASSET BACKED | 1,527,787.9800 | 1,527,644.22 | .17 | |
BEAVER CNTY PA IN V/R 04/01/35 | 074876HH9 | MUNICIPAL BONDS | 10,000.0000 | 8,825.00 | .00 | |
BEAVER CNTY PA IN V/R 04/01/41 | 074876HL0 | MUNICIPAL BONDS | 10,000.0000 | 8,825.00 | .00 | |
BLACKROCK CAPITAL 5% 06/15/22 | 092533AC2 | CORPORATE BONDS | 1,000,000.0000 | 998,331.00 | .11 | |
CEC ENTERTAINMENT 8% 02/15/22 | 125137AB5 | CORPORATE BONDS | 4,000,000.0000 | 3,880,000.00 | .43 | |
CALIFORNIA RESOURC 8% 12/15/22 | 13057QAG2 | CORPORATE BONDS | 13,375,000.0000 | 3,343,750.00 | .37 | |
CONSOLIDATED COM 6.5% 10/01/22 | 20903XAE3 | CORPORATE BONDS | 14,773,000.0000 | 12,667,847.50 | 1.40 | |
CYTOKINETICS INC 4% 11/15/26 | 23282WAA8 | CORPORATE BONDS | 2,800,000.0000 | 3,122,693.42 | .35 | |
EIG INVESTORS 10.875% 02/01/24 | 26854XAB5 | CORPORATE BONDS | 7,400,000.0000 | 7,270,500.00 | .81 | |
EP ENER/EVEREST 7.75% 09/01/22 | 268787AB4 | CORPORATE BONDS | 1,660,000.0000 | 4,150.00 | .00 | |
EP ENER/EVERES 6.375% 06/15/23 | 268787AD0 | CORPORATE BONDS | 11,951,000.0000 | 29,877.50 | .00 | |
EP ENER/EVEREST AC 8% 11/29/24 | 268787AE8 | CORPORATE BONDS | 12,619,000.0000 | 4,921,410.00 | .55 | |
EP ENER/EVERES 9.375% 05/01/24 | 268787AH1 | CORPORATE BONDS | 11,986,000.0000 | 149,825.00 | .02 | |
ELAT 2007-1 M1 V/R 05/25/37 | 288542AF0 | ASSET BACKED | 470,962.0000 | 403,907.94 | .04 | |
ELAT 2007-2 M1A V/R 05/25/37 | 288547AF9 | ASSET BACKED | 1,565,000.0000 | 1,329,467.50 | .15 | |
EP ENER/EVERES 9.375% 05/01/20 | EPE/20 | 29977HAB6 | CORPORATE BONDS | 1,340,000.0000 | 3,350.00 | .00 |
CAS 2014-C04 2M2 V/R 11/25/24 | 30711XAR5 | ASSET BACKED | 2,117,982.6500 | 2,264,631.77 | .25 | |
CAS 2015-C01 1M2 V/R 02/25/25 | 30711XAT1 | ASSET BACKED | 3,285,309.1900 | 3,501,468.74 | .39 | |
CAS 2016-C01 2M2 V/R 08/25/28 | 30711XBU7 | ASSET BACKED | 5,573,352.4800 | 6,046,275.96 | .67 | |
CAS 2016-C03 1M2 V/R 10/25/28 | 30711XCL6 | ASSET BACKED | 5,000,000.0000 | 5,410,566.00 | .60 | |
CAS 2016-C03 2M2 V/R 10/25/28 | 30711XCT9 | ASSET BACKED | 8,286,720.0900 | 8,938,094.41 | .99 | |
CAS 2016-C05 2M2 V/R 01/25/29 | 30711XDK7 | ASSET BACKED | 11,359,658.9000 | 11,954,724.41 | 1.32 | |
CAS 2016-C07 2M2 V/R 05/25/29 | 30711XEC4 | ASSET BACKED | 19,088,043.4500 | 20,049,769.70 | 2.22 | |
CAS 2017-C01 1M2 V/R 07/25/29 | 30711XEP5 | ASSET BACKED | 12,480,000.0000 | 13,119,623.71 | 1.45 | |
CAS 2017-C02 2M2 V/R 09/25/29 | 30711XGP3 | ASSET BACKED | 14,600,000.0000 | 15,443,957.38 | 1.71 | |
CAS 2017-C03 1M2 V/R 10/25/29 | 30711XJX3 | ASSET BACKED | 5,812,875.0000 | 6,051,333.66 | .67 | |
CAS 2017-C04 2M2 V/R 11/25/29 | 30711XLT9 | ASSET BACKED | 836,000.0000 | 865,772.05 | .10 | |
CAS 2017-C05 1M2 V/R 01/25/30 | 30711XNX8 | ASSET BACKED | 21,261,000.0000 | 21,530,936.03 | 2.39 | |
CAS 2017-C06 1M2 V/R 02/25/30 | 30711XQX5 | ASSET BACKED | 11,695,000.0000 | 12,030,714.33 | 1.33 | |
CAS 2017-C07 1M2 V/R 05/25/30 | 30711XUX0 | ASSET BACKED | 19,180,000.0000 | 19,472,272.51 | 2.16 | |
CAS 2018-C01 1M2 V/R 07/25/30 | 30711XYX6 | ASSET BACKED | 21,299,000.0000 | 21,510,910.14 | 2.38 | |
STACR 2017-HQA1 V/R 08/25/29 | 3137G0NE5 | ASSET BACKED | 10,258,000.0000 | 10,762,148.90 | 1.19 | |
STACR 2017-HQA2 V/R 12/25/29 | 3137G0PU7 | ASSET BACKED | 10,075,000.0000 | 10,327,812.98 | 1.14 | |
FINA 2004-2 M7 V/R 08/25/34 | 317350BK1 | ASSET BACKED | 602,382.8400 | 548,309.10 | .06 | |
FFML 2006-FF17 A V/R 12/25/36 | 32028KAE6 | ASSET BACKED | 2,572,524.8500 | 2,254,624.58 | .25 | |
GSAMP 2006-HE5 A V/R 08/25/36 | 362437AD7 | ASSET BACKED | 2,814,807.9800 | 2,748,151.36 | .30 | |
GENWORTH HOLDING 7.7% 06/15/20 | GNW20A | 37247DAM8 | CORPORATE BONDS | 7,253,000.0000 | 7,361,795.00 | .82 |
GOGO INC 6% 05/15/22 | 38046CAC3 | CORPORATE BONDS | 2,240,000.0000 | 2,388,350.90 | .26 | |
HLF FIN SARL LL 7.25% 08/15/26 | 40390DAA3 | CORPORATE BONDS | 4,799,000.0000 | 5,014,955.00 | .56 | |
HC2 HOLDINGS IN 11.5% 12/01/21 | 404139AD9 | CORPORATE BONDS | 10,877,500.0000 | 10,007,300.00 | 1.11 | |
HADRIAN MERGER S 8.5% 05/01/26 | 42239PAA7 | CORPORATE BONDS | -4,164,000.0000 | -4,150,696.02 | -.46 | |
ILFC E-CAPITAL TR V/R 12/21/65 | 44965TAA5 | CORPORATE BONDS | 11,600,000.0000 | 9,019,000.00 | 1.00 | |
MARM 2004-9 M2 V/R 11/25/34 | 576433RU2 | ASSET BACKED | 1,240,134.6700 | 1,230,774.51 | .14 | |
OHIO ST AIR QUALI V/R 03/01/23 | 677525VP9 | MUNICIPAL BONDS | 14,650.0000 | 12,928.63 | .00 | |
POPLR 2005-3 AV1 V/R 07/25/35 | 73316PDZ0 | ASSET BACKED | 1,584,350.0300 | 1,583,882.65 | .18 | |
RAMC 2005-3 M1 V/R 11/25/35 | 75970NBH9 | ASSET BACKED | 4,447,000.0000 | 2,187,520.66 | .24 | |
REVLON CONSUMER 5.75% 02/15/21 | 761519BD8 | CORPORATE BONDS | 3,778,000.0000 | 3,041,290.00 | .34 | |
SANCHEZ ENERGY 7.75% 06/15/21 | 79970YAB1 | CORPORATE BONDS | 36,976,000.0000 | 1,294,160.00 | .14 | |
SANCHEZ ENERGY 6.125% 01/15/23 | SN23 | 79970YAD7 | CORPORATE BONDS | 430,000.0000 | 15,050.00 | .00 |
USB REALTY V/R /PERP/ | 903312AA4 | CORPORATE BONDS | 11,142,000.0000 | 9,623,902.50 | 1.07 | |
ULTRA RESOURCES I 11% 07/12/24 | 90400GAE1 | CORPORATE BONDS | 6,085,271.0000 | 973,643.36 | .11 | |
VECTOR GROUP L 6.125% 02/01/25 | 92240MBF4 | CORPORATE BONDS | 8,899,000.0000 | 8,509,668.75 | .94 | |
T/L ASURION LLC 0% 8/4/2025 | LX167087 | LOAN | 9,200,000.0000 | 9,266,148.00 | 1.03 | |
T/L GENWORTH FINAN 0% 03/07/23 | LX171577 | LOAN | .2300 | .23 | .00 | |
T/L CERENCE INC 0% 10/01/24 | LX182674 | LOAN | 8,000,000.0000 | 7,500,000.00 | .83 | |
T/L FOSSIL GROUP 0% 08/26/26 | LX183032 | LOAN | 8,000,000.0000 | 7,546,640.00 | .84 | |
CXT 2I65BYBD6 01.000 SP 12/20/2023 A3 - E7 GOLDNY SHORT | SCCDS1095 | SWAPS | -20,000,000.0000 | -20,000,000.00 | -2.22 | |
CXT 2I65BYBD6 01.000 SP 12/20/2023 A3 - E7 GOLDNY LONG | SCCDS1095 | SWAPS | 20,000,000.0000 | 19,683,687.80 | 2.18 | |
CXT 2I65BYBD6 01.000 SP 12/20/2023 A3 - E7 GOLDNY LONG | SCCDS1137 | SWAPS | 10,000,000.0000 | 9,841,843.90 | 1.09 | |
CXT 2I65BYBD6 01.000 SP 12/20/2023 A3 - E7 GOLDNY SHORT | SCCDS1137 | SWAPS | -10,000,000.0000 | -10,000,000.00 | -1.11 | |
CXT 2I65BYDV4 01.000 SP A3 - E7 12/20/2024 GOLDNY LONG | SCCDS1356 | SWAPS | 10,000,000.0000 | 9,384,212.10 | 1.04 | |
CXT 2I65BYDV4 01.000 SP A3 - E7 12/20/2024 GOLDNY SHORT | SCCDS1356 | SWAPS | -10,000,000.0000 | -10,000,000.00 | -1.11 |
As of 11/29/2019.
Distributions
Fund Name | Fund Cusip | Distribution Type | Amount per Share | Ex Date | Reinvest Date | Reinvest Price |
---|---|---|---|---|---|---|
Destinations Multi Strategy Alternatives Fund | 10964R772 | Dividend | 0.094430 | 9/26/2019 | 9/26/2019 | $9.25 |
Destinations Multi Strategy Alternatives Fund | 10964R772 | Dividend | 0.128731 | 6/27/2019 | 6/27/2019 | $9.43 |
Destinations Multi Strategy Alternatives Fund | 10964R772 | Dividend | 0.042222 | 3/28/2019 | 3/28/2019 | $9.47 |
Destinations Multi Strategy Alternatives Fund | 10964R772 | Dividend | 0.131949 | 12/27/2018 | 12/27/2018 | $8.92 |
Destinations Multi Strategy Alternatives Fund | 10964R772 | Short-Term Capital Gains | 0.033439 | 12/17/2018 | 12/17/2018 | $9.18 |
Destinations Multi Strategy Alternatives Fund | 10964R772 | Long-Term Capital Gains | 0.139370 | 12/17/2018 | 12/17/2018 | $9.18 |
Destinations Multi Strategy Alternatives Fund | 10964R772 | Dividend | 0.117220 | 9/27/2018 | 9/27/2018 | $9.97 |
Fees and expenses
Type | Amount |
---|---|
Management Fees1.35 | 1.35% |
Distribution and Service (12b-1) Fees | None |
Other Expenses | 0.21% |
AFFE | 0.36% |
Total Annual Fund Operating Expenses | 1.92% |
Fee waivers and expense reimbursements | (0.48%) |
Total Annual Fund Operating Expenses Less Fee Waivers and Expense Reimbursements | 1.44%* |
*Effective June 30, 2019, the Fund’s adviser, Brinker Capital, Inc. (“Brinker” or the “Adviser”), has contractually agreed to waive a portion of its management fee for a period of one year as necessary to keep the Fund’s management fee from exceeding 0.39% more than the total amount of sub-advisory fees paid by the Adviser. This contractual waiver will only apply if the Fund’s total management fees exceed the total amount of sub-advisory fees paid by the Adviser plus 0.39%, and will not affect the Fund’s total management fees if they are less than such amount. This fee waiver and reimbursement agreement shall remain in effect until June 30, 2020. The agreement may be amended or terminated only with the consent of the Board of Trustees.

1-877-771-7979
Monday – Friday 8:30 am – 5:00 pm EST
Brinker Capital Destinations Funds
P.O. Box 2175
Milwaukee, WI 53201
Brinker Capital Destinations Funds
235 W. Galena Street
Milwaukee, WI 53212
Brinker Capital, Inc.
1055 Westlakes Drive, Suite 250
Berwyn, PA 19312
www.brinkercapital.com
Foreside Fund Services, LLC
Three Canal Plaza, Suite 100
Portland, ME 04101
www.foreside.com
marketingmembers@brinkercapital.com
Mutual fund investing involves risk. The value of your investment in a Fund could go down. Multi-investment management styles may lead to overlapping securities transactions and higher transaction expenses compared to single investment management styles. Outcomes depend on the skill of the sub-advisers and adviser and the allocation of assets amongst them, as well as market fluctuations and industry/economic trends etc.
Before investing you should consider the Destinations Funds’ investment objectives, risks, charges and expenses carefully. The prospectus contains this and other information about the Funds. You may obtain a copy of the prospectus by calling 1-877-771-7979. The prospectus should be read carefully before investing.
Any tax or legal information provided is not an exhaustive interpretation of some of the current income tax regulations. Investors must consult their tax advisor or legal counsel for advice and information concerning their particular situation. Neither the Funds nor any of their representatives may give legal or tax advice.
The Destinations Funds are distributed by Foreside Fund Services, LLC.