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:
- 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.
- 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 12/31/2022 | ||||||||||||||
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Morningstar Broad 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.
*The Fund’s adviser, Brinker Capital Investments, LLC (“Brinker Capital” or the “Adviser”), has contractually agreed to waive a portion of its management fee 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 fee waiver and reimbursement agreement shall remain in effect until June 30, 2023 and may be amended or terminated only with the consent of the Board of Trustees.
Morningstar Broad Hedge Fund Index: A rules-based, asset-weighted index, comprised of a subset of Morningstar’s high-quality hedge fund database, that is designed to capture the performance and behavior of the most investable hedge funds. Russell 1000 Index: Measures the performance of the 1,000 largest US companies based on total market capitalization.
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: Morningstar Broad Hedge Fund Index
- Inception date: 03/20/2017
- Gross expense ratio: 1.86%
- Net expense ratio: 1.42%*
Daily NAV | Date: | 03/29/2023 |
NAV: $9.99 NAV change: $0.02 Total assets ($m): $725.3
Management team
- Brian Storey CFA, Head of Discretionary Portfolios, Brinker Capital Investments
Brian Storey is a senior portfolio manager at Brinker Capital Investments, a brand entity of Orion Advisor Solutions. In this role, he has portfolio management responsibilities for Brinker Capital’s Destinations program. Brian is involved in all aspects of the investment process for these multi-asset class portfolio solutions, including asset allocation, portfolio construction, manager research, and due diligence.
Prior to joining Brinker Capital, Brian was a Senior Portfolio Manager at First Citizens Bank where he oversaw portfolio construction for the globally-diversified investment strategies utilized by the firm’s private wealth and institutional clients. Previously, he served in various leadership and operational roles during his five years as an officer in the U.S. Coast Guard.
Brian graduated from the United States Coast Guard Academy with a Bachelor of Science in management and earned his Master of Business Administration from Duke University’s Fuqua School of Business where he graduated as a Fuqua scholar. Brian is a CFA® charterholder and holds the FINRA Series 65 designation. He is a member of the CFA® Institute and the CFA® Society North Carolina.
- Grant Engelbart CFA, CAIA, Senior Portfolio Manager, Brinker Capital Investments
Grant Engelbart is a senior portfolio manager at Brinker Capital Investments, a brand entity of Orion Advisor Solutions. In this role, he manages several ETF and mutual fund separate account strategies. He serves on several committees across Brinker Capital’s parent company, Orion Advisor Solutions. Grant first joined Orion in 2007 and returned to the company in 2009. He held several roles in trading and investment research before accepting the role of portfolio manager in 2013.
Prior to joining Brinker Capital Investments, Grant held positions at CLS Investments (which has since rebranded to Brinker Capital Investments), TD Ameritrade, and State Street Corporation. Grant received his Bachelor of Science in finance from the University of Nebraska at Lincoln. He is a CFA® charterholder, holds the Chartered Alternative Investment Analyst (CAIA) designation, and FINRA Series 65 license. He is a member of the CFA® Society of Nebraska and the CAIA Chicago chapter. In 2018, Grant was named one of the Top Ten Money Managers to Watch by Money Management Executive.
- Michael Hadden CFA, Portfolio Manager, Brinker Capital Investments
Michael Hadden is a portfolio manager at Brinker Capital Investments, a brand entity of Orion Advisor Solutions. In this role, he co-manages a variety of ETF and mutual fund asset allocation strategies, spending considerable time researching the ETF universe while closely monitoring the security selection within portfolios. Previously, he served as an investment analyst and associate portfolio manager for CLS Investments.
Michael joined CLS in 2017. He graduated with honors and high distinction from the University of Nebraska at Lincoln with a Bachelor of Science degree in finance and accounting. He is a CFA® charterholder and holds the FINRA Series 65 license. Michael is a member of the CFA® Society of Nebraska.
Performance
I Share Fund performance as of 12/31/2022 | ||||||||||||||||||||
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Annualized | ||||||||||||||||||||
MTD | QTD | YTD | 1 Year | 3 Years | 5 Years | Since Inception | Inception Date | Gross expense ratio | Net expense ratio* | |||||||||||
Destinations Multi Strategy Alternatives |
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Morningstar Broad 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.
*The Fund’s adviser, Brinker Capital Investments, LLC (“Brinker Capital” or the “Adviser”), has contractually agreed to waive a portion of its management fee 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 fee waiver and reimbursement agreement shall remain in effect until June 30, 2023 and may be amended or terminated only with the consent of the Board of Trustees.
Morningstar Broad Hedge Fund Index: A rules-based, asset-weighted index, comprised of a subset of Morningstar’s high-quality hedge fund database, that is designed to capture the performance and behavior of the most investable hedge funds. Russell 1000 Index: Measures the performance of the 1,000 largest US companies based on total market capitalization.
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 | -2.01 | -.00 | |
BRITISH POUNDS | CASHGBP | CURRENCY | .0100 | .01 | .00 | |
US DOLLARS | CASHUSD | CURRENCY | 144,951,636.0200 | 144,951,636.02 | 15.70 | |
XENON PHARMACEUTICALS INC | XENE | 98420N105 | COMMON STOCK | 255,592.0000 | 10,085,660.32 | 1.09 |
CORAZON CAP V838 MONOCEROS CORP WRT 3/26/25 | G24237128 | WARRANTS | 179,620.0000 | 2,640.41 | .00 | |
SCREAMING EAG WT EX 1/10/2027 | G79407121 | WARRANTS | 491,405.0000 | 122,851.25 | .01 | |
ASCENDIS PHARMA A/S - ADR | ASND | 04351P101 | COMMON STOCK | 36,667.0000 | 4,073,337.03 | .44 |
HORIZON THERAPEUTICS PLC | HZNP | BQPVQZ6 | COMMON STOCK | 98,213.0000 | 10,753,341.37 | 1.16 |
PAGAYA TECHNOL WT EX 06/22/27 | BQ5J6C7 | WARRANTS | 358,816.0000 | 35,845.72 | .00 | |
PLAYA HOTELS & RESORTS NV | PLYA | BD089F2 | COMMON STOCK | 494,972.0000 | 4,415,150.24 | .48 |
ACTIVISION BLIZZARD INC | ATVI | 00507V109 | COMMON STOCK | 84,468.0000 | 6,440,685.00 | .70 |
ALBERTSONS COS INC - CLASS A | ACI | 013091103 | COMMON STOCK | 224,458.0000 | 4,462,225.04 | .48 |
BERKSHIRE HILLS BANCORP INC | BHLB | 084680107 | COMMON STOCK | 305,498.0000 | 8,877,771.88 | .96 |
BLUE FOUNDRY BANCORP | BLFY | 09549B104 | COMMON STOCK | 942,569.0000 | 11,537,044.56 | 1.25 |
TOPGOLF CALLAWAY BRANDS CORP | MODG | 131193104 | COMMON STOCK | 212,424.0000 | 4,923,988.32 | .53 |
CRINETICS PHARMACEUTICALS IN | CRNX | 22663K107 | COMMON STOCK | 699,098.0000 | 13,730,284.72 | 1.49 |
DICE THERAPEUTICS INC | 23345J104 | COMMON STOCK | 199,689.0000 | 5,958,719.76 | .65 | |
EQRX INC WT EX 04/09/2028 | 26886C115 | WARRANTS | 88,320.0000 | 21,947.52 | .00 | |
FTAC ZEUS WT EX 11/23/2026 | 30320F114 | WARRANTS | 183,154.0000 | 9,157.70 | .00 | |
FIRST LIGHT ACQUI WRT 10/07/23 | 320703119 | WARRANTS | 556,875.0000 | 34,303.50 | .00 | |
FIRST LIGHT ACQUISITION GR-A | 34TVBK | POOLED INVESTMENTS | 70,340.0000 | .00 | .00 | |
GOLDEN ENTERTAINMENT INC | GDEN | 381013101 | COMMON STOCK | 467,947.0000 | 19,237,301.17 | 2.08 |
HARBORONE BANCORP INC | HONE | 41165Y100 | COMMON STOCK | 439,085.0000 | 6,002,291.95 | .65 |
HILLMAN SOLUTIONS CORP | HLMN | 431636109 | COMMON STOCK | 701,162.0000 | 6,233,330.18 | .68 |
INSPIRATO INC WT EX 12/15/27 | 45791E115 | WARRANTS | 131,807.0000 | 13,193.88 | .00 | |
JPMORGAN STRAT INC OPP-R6 | JSOZX | 48121L114 | POOLED INVESTMENTS | 20,190,022.7750 | 230,368,159.86 | 24.95 |
KEARNY FINANCIAL CORP/MD | KRNY | 48716P108 | COMMON STOCK | 1,221,238.0000 | 12,261,229.52 | 1.33 |
LIVE OAK MOBILITY WRT 03/04/28 | 538126111 | WARRANTS | 117,449.0000 | 16,442.86 | .00 | |
LOGISTICS INNOV WT EX 06/15/28 | 54141L118 | WARRANTS | 185,925.0000 | 18,611.09 | .00 | |
MGM RESORTS INTERNATIONAL | MGM | 552953101 | COMMON STOCK | 88,151.0000 | 3,791,374.51 | .41 |
RELAY THERAPEUTICS INC | RLAY | 75943R102 | COMMON STOCK | 341,650.0000 | 5,517,647.50 | .60 |
SPDR S&P REGIONAL BANKING ETF_ | KRE | 78464A698 | POOLED INVESTMENTS | -365,507.0000 | -22,500,610.92 | -2.44 |
SPDR S&P BIOTECH ETF | XBI | 78464A870 | POOLED INVESTMENTS | -263,417.0000 | -21,824,098.45 | -2.36 |
SENIOR CONNECT ACQUISITION CORP I WT EX 12/15/25 | 81723H116 | WARRANTS | 232,452.0000 | 9,135.36 | .00 | |
PALM VALLEY CAPITAL-INV | PVCMX | 81752T684 | POOLED INVESTMENTS | 1,897,743.1400 | 22,848,827.41 | 2.48 |
SOMALOGIC INC WRT 12/31/27 | 83444K113 | WARRANTS | 77,310.0000 | 27,066.23 | .00 | |
TELEPHONE & DATA SYS /PFD/ | TDSLL | 879433761 | PREFERRED STOCK | 264,254.0000 | 4,439,467.20 | .48 |
TELEPHONE & DATA SYS /PFD/ | 879433787 | PREFERRED STOCK | 25,001.0000 | 464,518.58 | .05 | |
VITESSE ENERGY INC | VTS WI | 92852X103 | COMMON STOCK | 41,751.0000 | 726,049.89 | .08 |
BRIDGER AEROSPACE WRT 01/25/28 | 96812F110 | WARRANTS | 468,723.0000 | 112,493.52 | .01 | |
WILLSCOT MOBILE MINI HOLDING | 971378104 | COMMON STOCK | 271,405.0000 | 13,950,217.00 | 1.51 | |
X4 PHARMACEUTICALS INC WT EX 4/12/24 | XFORW | 98420X111 | WARRANTS | 23,299.0000 | 25.63 | .00 |
ZEROFOX HLDGS WT EX 08/03/27 | 98955G111 | WARRANTS | 244,085.0000 | 26,873.76 | .00 | |
CFD CANNAE HOLDINGS INC | TRSBFMQPR2USD | SWAPS | 472,824.0000 | 10,676,365.92 | 1.16 | |
CFD GSCBGDEN | TRSGSCBGDENUSD | SWAPS | -102,686.0000 | -9,801,378.70 | -1.06 | |
CFD GSCNNED3 | TRSGSCNNED3USD | SWAPS | -477,835.0000 | -11,745,184.30 | -1.27 | |
BIOHAVEN LTD | BHVN-W | BPLZ7S5 | COMMON STOCK | 146,843.0000 | 2,243,761.04 | .24 |
HLM 9A-2016 A2R V/R 07/19/30 | 40436QAN2 | ASSET BACKED | 3,000,000.0000 | 2,932,746.30 | .32 | |
LONGF 2013-1A ER V/R 04/15/29 | 54303NAF7 | ASSET BACKED | 1,300,000.0000 | 1,230,803.21 | .13 | |
STCR 2016-1A ER V/R 06/15/31 | 85816TAF8 | ASSET BACKED | 380,000.0000 | 295,215.31 | .03 | |
STRAS 2021-2A A V/R 12/28/29 | 86315TAA3 | ASSET BACKED | 6,743,605.8400 | 6,667,591.91 | .72 | |
VENTR 2014-18A E V/R 10/15/29 | 92329HAH6 | ASSET BACKED | 1,030,000.0000 | 696,544.81 | .08 | |
VIBR 2018-8A A1B V/R 01/20/31 | 92558FAJ8 | ASSET BACKED | 1,291,000.0000 | 1,262,070.88 | .14 | |
T/L PLAYA HOTELS 0% 11/23/2028 | LX209422 | LOAN | 11,281,000.0000 | 11,243,434.27 | 1.22 | |
AMIT 2005-4 M3 V/R 10/25/35 | 00252FCV1 | ASSET BACKED | 2,010,471.4200 | 1,968,966.64 | .21 | |
ACCR 2006-2 M1 V/R 09/25/36 | 00437NAE2 | ASSET BACKED | 2,430,000.0000 | 2,218,939.68 | .24 | |
ARMT 2005-2 6M2 V/R 06/25/35 | 007036HA7 | ASSET BACKED | 2,125,608.3900 | 2,052,260.66 | .22 | |
ARROW BIDCO LLC 9.5% 03/15/24 | 042728AA3 | CORPORATE BONDS | 16,354,000.0000 | 16,333,384.47 | 1.77 | |
ABFC 2003-OPT1 A V/R 04/25/33 | 04542BDG4 | ASSET BACKED | 3,166,707.8200 | 2,925,944.92 | .32 | |
ABSHE 2007-HE1 A V/R 12/25/36 | 04544RAC9 | ASSET BACKED | 1,242,516.5500 | 1,197,447.24 | .13 | |
BALTA 2006-8 3A1 V/R 02/25/34 | 07387QAX8 | ASSET BACKED | 676,557.2700 | 592,859.96 | .06 | |
CWL 2004-2 M1 V/R 05/25/34 | 1266713Z7 | ASSET BACKED | 1,236,592.6100 | 1,217,058.40 | .13 | |
CWALT 2005-61 2A V/R 12/25/35 | 12668AVQ5 | ASSET BACKED | 2,013,211.1900 | 1,701,025.95 | .18 | |
CWL 2007-2 2A3 V/R 08/25/37 | 12668NAD9 | ASSET BACKED | 700,211.8400 | 687,521.76 | .07 | |
CWL 2007-12 2A3 V/R 09/25/35_ | 126697AE1 | ASSET BACKED | 273,408.0200 | 272,007.41 | .03 | |
CALUMET SPECIALTY 11% 04/15/25 | 131477AT8 | CORPORATE BONDS | 12,110,000.0000 | 12,556,253.50 | 1.36 | |
CARR 2006-NC3 A3 V/R 08/25/36 | 144528AC0 | ASSET BACKED | 2,418,351.7200 | 2,272,990.89 | .25 | |
CHEC 2004-1 A3 V/R 07/25/34 | 162765AC5 | ASSET BACKED | 2,187,425.4000 | 2,067,064.07 | .22 | |
CINEMARK USA IN 5.25% 07/15/28 | 172441BF3 | CORPORATE BONDS | 19,093,000.0000 | 16,042,893.25 | 1.74 | |
CAS 2019-R02 1B1 V/R 08/25/31 | 20753KAF9 | ASSET BACKED | 3,159,000.0000 | 3,226,030.19 | .35 | |
CAS 2019-R03 1B1 V/R 09/25/31 | 20753MAE8 | ASSET BACKED | 3,060,000.0000 | 3,129,399.58 | .34 | |
CAS 2019-R01 2B1 V/R 07/25/31 | 20754FAL6 | ASSET BACKED | 6,734,000.0000 | 6,953,048.27 | .75 | |
CAS 2019-HRP1 B1 V/R 11/25/39 | 20754PAD2 | ASSET BACKED | 8,873,000.0000 | 8,950,324.65 | .97 | |
DBALT 2007-OA5 A V/R 12/25/15 | 25150XAA0 | ASSET BACKED | 3,213,426.0200 | 2,812,436.73 | .30 | |
EMIR 2019-1 M1B V/R 04/25/29 | 269822AB8 | ASSET BACKED | 3,007,823.7800 | 3,007,821.07 | .33 | |
ELAT 2007-1 A1 V/R 05/25/37 | 288542AA1 | ASSET BACKED | 1,733,162.7400 | 1,657,380.89 | .18 | |
EMLT 2003-2 1A1 V/R 09/25/33 | 29445FAF5 | ASSET BACKED | 2,728,024.0900 | 2,611,111.89 | .28 | |
FNBA 2004-AR1 M2 V/R 08/19/34 | 30251YAE8 | ASSET BACKED | 2,665,570.0500 | 2,601,996.47 | .28 | |
CAS 2016-C01 1M2 V/R 08/25/28 | 30711XBM5 | ASSET BACKED | 1,062,156.7800 | 1,125,132.48 | .12 | |
CAS 2016-C01 1B V/R 08/25/28 | 30711XBQ6 | ASSET BACKED | 531,642.3600 | 600,532.79 | .07 | |
CAS 2016-C02 1B V/R 09/25/28 | 30711XCH5 | ASSET BACKED | 3,392,435.3500 | 3,845,828.23 | .42 | |
CAS 2016-C03 1B V/R 10/25/28 | 30711XCR3 | ASSET BACKED | 486,193.1000 | 546,081.30 | .06 | |
CAS 2016-C03 2M2 V/R 10/25/28 | 30711XCT9 | ASSET BACKED | 3,265,222.4100 | 3,458,761.28 | .37 | |
CAS 2016-C04 1B V/R 01/25/29 | 30711XDB7 | ASSET BACKED | 1,261,103.8900 | 1,368,765.97 | .15 | |
CAS 2016-C06 1B V/R 04/25/29 | 30711XDY7 | ASSET BACKED | 4,649,839.2900 | 4,925,290.19 | .53 | |
CAS 2017-C02 2B1 V/R 09/25/29 | 30711XGQ1 | ASSET BACKED | 5,234,000.0000 | 5,789,529.96 | .63 | |
CAS 2018-C03 1B1 V/R 10/25/30 | 30711XJ62 | ASSET BACKED | 6,845,000.0000 | 7,194,689.15 | .78 | |
STACR 2015-DNA2 V/R 12/25/27 | 3137G0FZ7 | ASSET BACKED | 5,532,428.2400 | 5,644,151.20 | .61 | |
STACR 2016-DNA1 V/R 07/25/28 | 3137G0HZ5 | ASSET BACKED | 1,911,457.5600 | 2,035,208.38 | .22 | |
STACR 2016-HQA3 V/R 03/25/29 | 3137G0LF4 | ASSET BACKED | 1,982,378.5600 | 2,059,311.30 | .22 | |
STACR 2016-DNA4 V/R 03/25/29 | 3137G0LK3 | ASSET BACKED | 1,067,674.5700 | 1,089,168.78 | .12 | |
STACR 2017-DNA2 V/R 10/25/29 | 3137G0PS2 | ASSET BACKED | 554,312.9500 | 570,406.76 | .06 | |
STACR 2017-DNA3 V/R 03/25/30 | 3137G0RJ0 | ASSET BACKED | 4,000,000.0000 | 4,242,140.80 | .46 | |
STACR 2017-HQA3 V/R 04/25/30 | 3137G0SE0 | ASSET BACKED | 4,290,000.0000 | 4,576,977.83 | .50 | |
STACR 2018-HRP1 V/R 04/25/43 | 3137G0VA4 | ASSET BACKED | 5,500,000.0000 | 5,555,298.65 | .60 | |
STACR 2018-HRP1 V/R 05/25/43 | 3137G0VB2 | ASSET BACKED | 4,772,753.8600 | 5,240,270.40 | .57 | |
STACR 2019-DNA1 V/R 01/25/49 | 35563KBD1 | ASSET BACKED | 5,000,000.0000 | 5,341,075.00 | .58 | |
STACR 2019-HQA1 V/R 02/25/49 | 35563MBD7 | ASSET BACKED | 5,620,000.0000 | 5,899,151.58 | .64 | |
STACR 2019-HQA1 V/R 02/25/49 | 35563MBE5 | ASSET BACKED | 4,030,000.0000 | 4,721,020.47 | .51 | |
STACR 2018-DNA2 V/R 12/25/30 | 35563TAV3 | ASSET BACKED | 6,494,000.0000 | 6,736,726.24 | .73 | |
STACR 2018-HQA2 V/R 10/25/48 | 35563XBD3 | ASSET BACKED | 5,310,000.0000 | 5,642,840.36 | .61 | |
STACR 2018-HRP2 V/R 02/25/47 | 35564ACB5 | ASSET BACKED | 1,440,000.0000 | 1,475,936.93 | .16 | |
STACR 2021-HQA1 V/R 08/25/33 | 35564KCP2 | ASSET BACKED | 2,601,000.0000 | 2,117,476.18 | .23 | |
STACR 2021-DNA2 V/R 08/25/33 | 35564KDY2 | ASSET BACKED | 1,280,000.0000 | 1,130,314.24 | .12 | |
STACR 2021-HQA2 V/R 12/25/33 | 35564KGS2 | ASSET BACKED | 2,990,000.0000 | 2,443,477.63 | .26 | |
STACR 2021-DNA5 V/R 01/25/34 | 35564KJB6 | ASSET BACKED | 3,060,000.0000 | 2,569,800.55 | .28 | |
STACR 2019-DNA2 V/R 03/25/49 | 35564LBD8 | ASSET BACKED | 5,000,000.0000 | 5,199,042.00 | .56 | |
STACR 2019-DNA2 V/R 03/25/49 | 35564LBE6 | ASSET BACKED | 5,000,000.0000 | 5,649,386.00 | .61 | |
STACR 2019-HQA2 V/R 04/25/49 | 35564MBD6 | ASSET BACKED | 5,500,000.0000 | 5,680,870.25 | .62 | |
STACR 2019-HQA2 V/R 04/25/49 | 35564MBE4 | ASSET BACKED | 3,930,000.0000 | 4,466,057.50 | .48 | |
STACR 2019-FTR1 V/R 01/25/48 | 35564PAC2 | ASSET BACKED | 5,800,000.0000 | 6,090,860.14 | .66 | |
STACR 2019-HRP1 V/R 02/25/49 | 35564RCC6 | ASSET BACKED | 5,000,000.0000 | 4,925,615.50 | .53 | |
STACR 2019-DNA3 V/R 07/25/49 | 35564TBE9 | ASSET BACKED | 4,870,000.0000 | 5,120,466.05 | .55 | |
STACR 2019-FTR2 V/R 11/25/48 | 35564WBE2 | ASSET BACKED | 4,920,000.0000 | 4,917,092.28 | .53 | |
STACR 2019-DNA4 V/R 10/25/49 | 35565ABE9 | ASSET BACKED | 4,588,000.0000 | 4,565,296.28 | .49 | |
STACR 2019-FTR4 V/R 11/25/47 | 35565GAE7 | ASSET BACKED | 4,349,000.0000 | 3,809,834.03 | .41 | |
STACR 2020-DNA1 V/R 01/25/50 | 35565HBE4 | ASSET BACKED | 5,438,000.0000 | 5,067,411.72 | .55 | |
STACR 2020-HQA3 V/R 07/25/50 | 35565MBD5 | ASSET BACKED | 3,432,102.6000 | 3,684,634.65 | .40 | |
STACR 2020-HQA3 V/R 07/25/50 | 35565MBE3 | ASSET BACKED | 1,280,000.0000 | 1,448,850.18 | .16 | |
STACR 2020-HQA4 V/R 09/25/50 | 35565RBE2 | ASSET BACKED | 1,260,000.0000 | 1,387,328.67 | .15 | |
STACR 2020-HQA5 V/R 11/25/50 | 35565TBE8 | ASSET BACKED | 2,130,000.0000 | 2,044,911.83 | .22 | |
STACR 2020-DNA4 V/R 08/25/50 | 35565XBD1 | ASSET BACKED | 8,570,501.9200 | 9,300,169.60 | 1.01 | |
STACR 2020-DNA5 V/R 10/25/50 | 35566ABE8 | ASSET BACKED | 3,780,000.0000 | 4,492,059.77 | .49 | |
STACR 2020-DNA6 V/R 12/25/50 | 35566CBE4 | ASSET BACKED | 5,600,000.0000 | 5,251,306.48 | .57 | |
FHLT 2003-A M1 V/R 08/25/33 | 35729PBL3 | ASSET BACKED | 4,825,354.8400 | 4,678,923.66 | .51 | |
FULL HOUSE RESO 8.25% 02/15/28 | 359678AC3 | CORPORATE BONDS | 3,049,000.0000 | 2,926,816.84 | .32 | |
GOLDEN ENTERTA 7.625% 04/15/26 | 381013AA9 | CORPORATE BONDS | 18,191,000.0000 | 18,241,570.98 | 1.98 | |
HEAT 2005-6 M5 V/R 12/25/35 | 437084NG7 | ASSET BACKED | 2,370,000.0000 | 2,196,189.65 | .24 | |
HMBT 2005-4 M3 V/R 10/25/35 | 43739EBW6 | ASSET BACKED | 2,448,030.0000 | 2,091,390.95 | .23 | |
INDX 2006-FLX1 A V/R 11/25/36 | 45667WAA6 | ASSET BACKED | 3,658,911.4200 | 3,368,989.16 | .36 | |
JPMAC 2007-CH4 A V/R 11/25/13 | 46630CAE4 | ASSET BACKED | 2,196,226.2400 | 2,176,533.12 | .24 | |
KOHL'S CORPORA 3.625% 05/01/31 | 500255AX2 | CORPORATE BONDS | 5,926,000.0000 | 4,166,570.60 | .45 | |
LBMLT 2004-4 M1 V/R 10/25/34 | 542514HT4 | ASSET BACKED | 2,500,722.0600 | 2,314,361.25 | .25 | |
MABS 2004-WMC1 M V/R 02/25/34 | 57643LCW4 | ASSET BACKED | 2,501,406.3700 | 2,478,948.74 | .27 | |
MLMI 2005-FM1 M1 V/R 05/25/36 | 59020UC29 | ASSET BACKED | 548,635.0900 | 538,764.27 | .06 | |
MLMI 2006-OPT1 A V/R 08/25/37 | 59022VAD3 | ASSET BACKED | 1,941,181.6800 | 1,809,287.31 | .20 | |
NSTR 2007-C 1AV1 V/R 06/25/37 | 63860KAA0 | ASSET BACKED | 1,816,864.6100 | 1,767,451.71 | .19 | |
NSTR 2007-C 1AV1 V/R 06/25/37 | 63860KAA0 | ASSET BACKED | -1,816,864.6100 | -1,767,451.71 | -.19 | |
NHEL 2006-1 A2C V/R 05/25/36 | 669884AD0 | ASSET BACKED | 1,423,649.1900 | 1,403,801.53 | .15 | |
OOMLT 2005-3 M2 V/R 08/25/35 | 68389FHT4 | ASSET BACKED | 137,803.8600 | 137,107.36 | .01 | |
PPSI 2005-WCH1 M V/R 01/25/36 | 70069FFM4 | ASSET BACKED | 3,600,000.0000 | 3,281,213.52 | .36 | |
PPSI 2005-WCW2 M V/R 07/25/35 | 70069FLH8 | ASSET BACKED | 1,081,362.2900 | 1,065,570.29 | .12 | |
WILLIAMS SCOTS 6.125% 06/15/25 | 71953LAA9 | CORPORATE BONDS | 596,000.0000 | 585,067.69 | .06 | |
RAMP 2004-RS8 MI V/R 08/25/34 | 76112BAN0 | ASSET BACKED | 2,555,626.2800 | 2,447,768.12 | .27 | |
SURF 2004-BC1 M1 V/R 02/25/35 | 84751PBZ1 | ASSET BACKED | 2,588,742.1400 | 2,480,766.22 | .27 | |
SASC 2005-WF4 M8 V/R 11/25/35 | 863576DN1 | ASSET BACKED | 2,600,000.0000 | 2,464,822.36 | .27 | |
SASC 2006-GEL1 M V/R 11/25/35 | 863576EH3 | ASSET BACKED | 1,338,753.5200 | 1,317,604.83 | .14 | |
STRUCTURED ASSET INV 2004-2 A4 20340325 FLT | 86358EGW0 | ASSET BACKED | 4,014,259.3600 | 3,778,143.43 | .41 | |
SASC 2006-BC6 A4 V/R 01/25/37 | 86362VAD4 | ASSET BACKED | 807,949.9600 | 790,856.73 | .09 | |
SASC 2007-BC3 2A V/R 06/25/13 | 86363WAG4 | ASSET BACKED | 925,929.0800 | 878,206.05 | .10 | |
TEGNA INC 5% 09/15/29 | 87901JAH8 | CORPORATE BONDS | 2,188,000.0000 | 1,941,193.60 | .21 | |
TEGNA INC 4.625% 03/15/28 | 87901JAJ4 | CORPORATE BONDS | 2,028,000.0000 | 1,804,920.00 | .20 | |
TMTS 2006-5 1A2C V/R 07/25/37 | 8815612G8 | ASSET BACKED | 6,738,000.0000 | 6,269,905.08 | .68 | |
TMTS 2006-7 1A2C V/R 07/25/37 | 88156PAD3 | ASSET BACKED | 2,465,000.0000 | 2,093,672.65 | .23 | |
VISTRA CORP V/R /PERP/ | 92840MAC6 | CORPORATE BONDS | 13,154,000.0000 | 12,303,330.82 | 1.33 | |
T/L TOPGOLF INTERN 0% 02/09/26 | LX177302 | LOAN | 9,651,005.1900 | 9,638,941.43 | 1.04 | |
CXT 2I65BRYO2 05.000 SP A15-E25 12/20/2025 MSCSNY SHORT | SCCDS2714 | SWAPS | -10,000,000.0000 | -10,000,000.00 | -1.08 | |
CXT 2I65BRYO2 05.000 SP A15-E25 12/20/2025 MSCSNY LONG | SCCDS2714 | SWAPS | 10,000,000.0000 | 10,541,943.60 | 1.14 | |
CXT 2I65BRZF0 05.000 SP A25 - E35 12/20/2026 MSCSNY LONG | SCCDS4217 | SWAPS | 20,000,000.0000 | 22,122,186.80 | 2.40 | |
CXT 2I65BRZF0 05.000 SP A25- E35 12/20/2026 MSCSNY SHORT | SCCDS4217 | SWAPS | -20,000,000.0000 | -20,000,000.00 | -2.17 | |
CXT 2I65BYEB7 01.000 SP 12/20/2027 A3 - E7 GOLDNY LONG | SCCDS4369 | SWAPS | 20,000,000.0000 | 17,808,617.40 | 1.93 | |
CXT 2I65BYEB7 01.000 SP 12/20/2027 A3 - E7 GOLDNY SHORT | SCCDS4369 | SWAPS | -20,000,000.0000 | -20,000,000.00 | -2.17 | |
CXT 2I65BYEB7 01.000 SP 12/20/2027 A3 - E7 MSCSNY SHORT | SCCDS4596 | SWAPS | -20,000,000.0000 | -20,000,000.00 | -2.17 | |
CXT 2I65BYEB7 01.000 SP 12/20/2027 A3- E7 MSCSNY LONG | SCCDS4596 | SWAPS | 20,000,000.0000 | 17,808,617.40 | 1.93 | |
CXT 2I65BRZD5 05.000 SP A15-E25 12/20/2025 MSCSNY SHORT | SCCDS4654 | SWAPS | -10,000,000.0000 | -10,000,000.00 | -1.08 | |
CXT 2I65BRZD5 05.000 SP A15-E25 12/20/2025 MSCSNY LONG | SCCDS4654 | SWAPS | 10,000,000.0000 | 10,541,943.60 | 1.14 | |
CXT 2I65BRZH6 05.000 SP A25-E35 12/20/2027 MSCSNY LONG | SCCDS4674 | SWAPS | 25,000,000.0000 | 26,754,502.25 | 2.90 | |
CXT 2I65BRZH6 05.000 SP A25-E35 12/20/2027 MSCSNY SHORT | SCCDS4674 | SWAPS | -25,000,000.0000 | -25,000,000.00 | -2.71 | |
CFD CANNAE HOLDINGS INC | TRSBFMQPR2USD | SWAPS | -11,177,559.3600 | -11,177,559.36 | -1.21 | |
CFD GSCBGDEN | TRSGSCBGDENUSD | SWAPS | 9,917,368.2900 | 9,917,368.29 | 1.07 | |
CFD GSCNNED3 | TRSGSCNNED3USD | SWAPS | 12,535,332.2600 | 12,535,332.26 | 1.36 |
As of 02/28/2023.
Distributions
Fund Name | Fund Cusip | Distribution Type | Amount per Share | Ex Date | Reinvest Date | Reinvest Price |
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Destinations Multi Strategy Alternatives Fund | 10964R871 | Dividend | 0.136602 | 12/29/2022 | 12/29/2022 | $9.76 |
Destinations Multi Strategy Alternatives Fund | 10964R871 | Long-Term Capital Gains | 0.027439 | 12/15/2022 | 12/15/2022 | $9.93 |
Destinations Multi Strategy Alternatives Fund | 10964R871 | Dividend | 0.070556 | 9/29/2022 | 9/29/2022 | $9.67 |
Destinations Multi Strategy Alternatives Fund | 10964R871 | Dividend | 0.047979 | 6/29/2022 | 6/29/2022 | $9.74 |
Destinations Multi Strategy Alternatives Fund | 10964R871 | Dividend | 0.015385 | 3/30/2022 | 3/30/2022 | $10.28 |
Destinations Multi Strategy Alternatives Fund | 10964R871 | Dividend | 0.167480 | 12/29/2021 | 12/29/2021 | $10.38 |
Destinations Multi Strategy Alternatives Fund | 10964R871 | Short-Term Capital Gains | 0.061257 | 12/16/2021 | 12/16/2021 | $10.49 |
Destinations Multi Strategy Alternatives Fund | 10964R871 | Long-Term Capital Gains | 0.203343 | 12/16/2021 | 12/16/2021 | $10.49 |
Destinations Multi Strategy Alternatives Fund | 10964R871 | Dividend | 0.020694 | 9/29/2021 | 9/29/2021 | $10.76 |
Destinations Multi Strategy Alternatives Fund | 10964R871 | Dividend | 0.025173 | 6/29/2021 | 6/29/2021 | $10.72 |
Destinations Multi Strategy Alternatives Fund | 10964R871 | Dividend | 0.009451 | 3/30/2021 | 3/30/2021 | $10.58 |
Destinations Multi Strategy Alternatives Fund | 10964R871 | Dividend | 0.032649 | 12/29/2020 | 12/29/2020 | $10.34 |
Destinations Multi Strategy Alternatives Fund | 10964R871 | Dividend | 0.041362 | 9/29/2020 | 9/29/2020 | $9.75 |
Destinations Multi Strategy Alternatives Fund | 10964R871 | Dividend | 0.056309 | 6/29/2020 | 6/29/2020 | $9.40 |
Destinations Multi Strategy Alternatives Fund | 10964R871 | Dividend | 0.023078 | 3/30/2020 | 3/30/2020 | $8.27 |
Destinations Multi Strategy Alternatives Fund | 10964R871 | Dividend | 0.155252 | 12/27/2019 | 12/27/2019 | $9.55 |
Destinations Multi Strategy Alternatives Fund | 10964R871 | Long-Term Capital Gains | 0.032460 | 12/16/2019 | 12/16/2019 | $9.60 |
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 | 0.40% |
AFFE | 0.11% |
Total Annual Fund Operating Expenses | 1.86% |
Fee waivers and expense reimbursements | (0.44%) |
Total Annual Fund Operating Expenses Less Fee Waivers and Expense Reimbursements | 1.42%* |
*The Fund’s adviser, Brinker Capital Investments, LLC (“Brinker Capital” or the “Adviser”), has contractually agreed to waive a portion of its management fee 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 fee waiver and reimbursement agreement shall remain in effect until June 30, 2023 and 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:
- 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.
- 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 12/31/2022 | ||||||||||||||
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MTD | QTD | YTD | 1 Year | 3 Years | 5 Years | Since Inception | ||||||||
Destinations Multi Strategy Alternatives |
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Morningstar Broad 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.
*The Fund’s adviser, Brinker Capital Investments, LLC (“Brinker Capital” or the “Adviser”), has contractually agreed to waive a portion of its management fee 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 fee waiver and reimbursement agreement shall remain in effect until June 30, 2023 and may be amended or terminated only with the consent of the Board of Trustees.
Morningstar Broad Hedge Fund Index: A rules-based, asset-weighted index, comprised of a subset of Morningstar’s high-quality hedge fund database, that is designed to capture the performance and behavior of the most investable hedge funds. Russell 1000 Index: Measures the performance of the 1,000 largest US companies based on total market capitalization.
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: Morningstar Broad Hedge Fund Index
- Inception date: 07/16/2018
- Gross expense ratio: 1.71%
- Net expense ratio: 1.27%*
Daily NAV | Date: | 03/29/2023 |
NAV: $9.74 NAV change: $0.03 Total assets ($m): $61.1
Management team
- Brian Storey CFA, Head of Discretionary Portfolios, Brinker Capital Investments
Brian Storey is a senior portfolio manager at Brinker Capital Investments, a brand entity of Orion Advisor Solutions. In this role, he has portfolio management responsibilities for Brinker Capital’s Destinations program. Brian is involved in all aspects of the investment process for these multi-asset class portfolio solutions, including asset allocation, portfolio construction, manager research, and due diligence.
Prior to joining Brinker Capital, Brian was a Senior Portfolio Manager at First Citizens Bank where he oversaw portfolio construction for the globally-diversified investment strategies utilized by the firm’s private wealth and institutional clients. Previously, he served in various leadership and operational roles during his five years as an officer in the U.S. Coast Guard.
Brian graduated from the United States Coast Guard Academy with a Bachelor of Science in management and earned his Master of Business Administration from Duke University’s Fuqua School of Business where he graduated as a Fuqua scholar. Brian is a CFA® charterholder and holds the FINRA Series 65 designation. He is a member of the CFA® Institute and the CFA® Society North Carolina.
- Grant Engelbart CFA, CAIA, Senior Portfolio Manager, Brinker Capital Investments
Grant Engelbart is a senior portfolio manager at Brinker Capital Investments, a brand entity of Orion Advisor Solutions. In this role, he manages several ETF and mutual fund separate account strategies. He serves on several committees across Brinker Capital’s parent company, Orion Advisor Solutions. Grant first joined Orion in 2007 and returned to the company in 2009. He held several roles in trading and investment research before accepting the role of portfolio manager in 2013.
Prior to joining Brinker Capital Investments, Grant held positions at CLS Investments (which has since rebranded to Brinker Capital Investments), TD Ameritrade, and State Street Corporation. Grant received his Bachelor of Science in finance from the University of Nebraska at Lincoln. He is a CFA® charterholder, holds the Chartered Alternative Investment Analyst (CAIA) designation, and FINRA Series 65 license. He is a member of the CFA® Society of Nebraska and the CAIA Chicago chapter. In 2018, Grant was named one of the Top Ten Money Managers to Watch by Money Management Executive.
- Michael Hadden CFA, Portfolio Manager, Brinker Capital Investments
Michael Hadden is a portfolio manager at Brinker Capital Investments, a brand entity of Orion Advisor Solutions. In this role, he co-manages a variety of ETF and mutual fund asset allocation strategies, spending considerable time researching the ETF universe while closely monitoring the security selection within portfolios. Previously, he served as an investment analyst and associate portfolio manager for CLS Investments.
Michael joined CLS in 2017. He graduated with honors and high distinction from the University of Nebraska at Lincoln with a Bachelor of Science degree in finance and accounting. He is a CFA® charterholder and holds the FINRA Series 65 license. Michael is a member of the CFA® Society of Nebraska.
Performance
Z Share Fund performance as of 12/31/2022 | ||||||||||||||||||||
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Annualized | ||||||||||||||||||||
MTD | QTD | YTD | 1 Year | 3 Years | 5 Years | Since Inception | Inception Date | Gross expense ratio | Net expense ratio* | |||||||||||
Destinations Multi Strategy Alternatives |
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Morningstar Broad Hedge Fund Index |
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|
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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.
*The Fund’s adviser, Brinker Capital Investments, LLC (“Brinker Capital” or the “Adviser”), has contractually agreed to waive a portion of its management fee 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 fee waiver and reimbursement agreement shall remain in effect until June 30, 2023 and may be amended or terminated only with the consent of the Board of Trustees.
Morningstar Broad Hedge Fund Index: A rules-based, asset-weighted index, comprised of a subset of Morningstar’s high-quality hedge fund database, that is designed to capture the performance and behavior of the most investable hedge funds. Russell 1000 Index: Measures the performance of the 1,000 largest US companies based on total market capitalization.
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 | -2.01 | -.00 | |
BRITISH POUNDS | CASHGBP | CURRENCY | .0100 | .01 | .00 | |
US DOLLARS | CASHUSD | CURRENCY | 144,951,636.0200 | 144,951,636.02 | 15.70 | |
XENON PHARMACEUTICALS INC | XENE | 98420N105 | COMMON STOCK | 255,592.0000 | 10,085,660.32 | 1.09 |
CORAZON CAP V838 MONOCEROS CORP WRT 3/26/25 | G24237128 | WARRANTS | 179,620.0000 | 2,640.41 | .00 | |
SCREAMING EAG WT EX 1/10/2027 | G79407121 | WARRANTS | 491,405.0000 | 122,851.25 | .01 | |
ASCENDIS PHARMA A/S - ADR | ASND | 04351P101 | COMMON STOCK | 36,667.0000 | 4,073,337.03 | .44 |
HORIZON THERAPEUTICS PLC | HZNP | BQPVQZ6 | COMMON STOCK | 98,213.0000 | 10,753,341.37 | 1.16 |
PAGAYA TECHNOL WT EX 06/22/27 | BQ5J6C7 | WARRANTS | 358,816.0000 | 35,845.72 | .00 | |
PLAYA HOTELS & RESORTS NV | PLYA | BD089F2 | COMMON STOCK | 494,972.0000 | 4,415,150.24 | .48 |
ACTIVISION BLIZZARD INC | ATVI | 00507V109 | COMMON STOCK | 84,468.0000 | 6,440,685.00 | .70 |
ALBERTSONS COS INC - CLASS A | ACI | 013091103 | COMMON STOCK | 224,458.0000 | 4,462,225.04 | .48 |
BERKSHIRE HILLS BANCORP INC | BHLB | 084680107 | COMMON STOCK | 305,498.0000 | 8,877,771.88 | .96 |
BLUE FOUNDRY BANCORP | BLFY | 09549B104 | COMMON STOCK | 942,569.0000 | 11,537,044.56 | 1.25 |
TOPGOLF CALLAWAY BRANDS CORP | MODG | 131193104 | COMMON STOCK | 212,424.0000 | 4,923,988.32 | .53 |
CRINETICS PHARMACEUTICALS IN | CRNX | 22663K107 | COMMON STOCK | 699,098.0000 | 13,730,284.72 | 1.49 |
DICE THERAPEUTICS INC | 23345J104 | COMMON STOCK | 199,689.0000 | 5,958,719.76 | .65 | |
EQRX INC WT EX 04/09/2028 | 26886C115 | WARRANTS | 88,320.0000 | 21,947.52 | .00 | |
FTAC ZEUS WT EX 11/23/2026 | 30320F114 | WARRANTS | 183,154.0000 | 9,157.70 | .00 | |
FIRST LIGHT ACQUI WRT 10/07/23 | 320703119 | WARRANTS | 556,875.0000 | 34,303.50 | .00 | |
FIRST LIGHT ACQUISITION GR-A | 34TVBK | POOLED INVESTMENTS | 70,340.0000 | .00 | .00 | |
GOLDEN ENTERTAINMENT INC | GDEN | 381013101 | COMMON STOCK | 467,947.0000 | 19,237,301.17 | 2.08 |
HARBORONE BANCORP INC | HONE | 41165Y100 | COMMON STOCK | 439,085.0000 | 6,002,291.95 | .65 |
HILLMAN SOLUTIONS CORP | HLMN | 431636109 | COMMON STOCK | 701,162.0000 | 6,233,330.18 | .68 |
INSPIRATO INC WT EX 12/15/27 | 45791E115 | WARRANTS | 131,807.0000 | 13,193.88 | .00 | |
JPMORGAN STRAT INC OPP-R6 | JSOZX | 48121L114 | POOLED INVESTMENTS | 20,190,022.7750 | 230,368,159.86 | 24.95 |
KEARNY FINANCIAL CORP/MD | KRNY | 48716P108 | COMMON STOCK | 1,221,238.0000 | 12,261,229.52 | 1.33 |
LIVE OAK MOBILITY WRT 03/04/28 | 538126111 | WARRANTS | 117,449.0000 | 16,442.86 | .00 | |
LOGISTICS INNOV WT EX 06/15/28 | 54141L118 | WARRANTS | 185,925.0000 | 18,611.09 | .00 | |
MGM RESORTS INTERNATIONAL | MGM | 552953101 | COMMON STOCK | 88,151.0000 | 3,791,374.51 | .41 |
RELAY THERAPEUTICS INC | RLAY | 75943R102 | COMMON STOCK | 341,650.0000 | 5,517,647.50 | .60 |
SPDR S&P REGIONAL BANKING ETF_ | KRE | 78464A698 | POOLED INVESTMENTS | -365,507.0000 | -22,500,610.92 | -2.44 |
SPDR S&P BIOTECH ETF | XBI | 78464A870 | POOLED INVESTMENTS | -263,417.0000 | -21,824,098.45 | -2.36 |
SENIOR CONNECT ACQUISITION CORP I WT EX 12/15/25 | 81723H116 | WARRANTS | 232,452.0000 | 9,135.36 | .00 | |
PALM VALLEY CAPITAL-INV | PVCMX | 81752T684 | POOLED INVESTMENTS | 1,897,743.1400 | 22,848,827.41 | 2.48 |
SOMALOGIC INC WRT 12/31/27 | 83444K113 | WARRANTS | 77,310.0000 | 27,066.23 | .00 | |
TELEPHONE & DATA SYS /PFD/ | TDSLL | 879433761 | PREFERRED STOCK | 264,254.0000 | 4,439,467.20 | .48 |
TELEPHONE & DATA SYS /PFD/ | 879433787 | PREFERRED STOCK | 25,001.0000 | 464,518.58 | .05 | |
VITESSE ENERGY INC | VTS WI | 92852X103 | COMMON STOCK | 41,751.0000 | 726,049.89 | .08 |
BRIDGER AEROSPACE WRT 01/25/28 | 96812F110 | WARRANTS | 468,723.0000 | 112,493.52 | .01 | |
WILLSCOT MOBILE MINI HOLDING | 971378104 | COMMON STOCK | 271,405.0000 | 13,950,217.00 | 1.51 | |
X4 PHARMACEUTICALS INC WT EX 4/12/24 | XFORW | 98420X111 | WARRANTS | 23,299.0000 | 25.63 | .00 |
ZEROFOX HLDGS WT EX 08/03/27 | 98955G111 | WARRANTS | 244,085.0000 | 26,873.76 | .00 | |
CFD CANNAE HOLDINGS INC | TRSBFMQPR2USD | SWAPS | 472,824.0000 | 10,676,365.92 | 1.16 | |
CFD GSCBGDEN | TRSGSCBGDENUSD | SWAPS | -102,686.0000 | -9,801,378.70 | -1.06 | |
CFD GSCNNED3 | TRSGSCNNED3USD | SWAPS | -477,835.0000 | -11,745,184.30 | -1.27 | |
BIOHAVEN LTD | BHVN-W | BPLZ7S5 | COMMON STOCK | 146,843.0000 | 2,243,761.04 | .24 |
HLM 9A-2016 A2R V/R 07/19/30 | 40436QAN2 | ASSET BACKED | 3,000,000.0000 | 2,932,746.30 | .32 | |
LONGF 2013-1A ER V/R 04/15/29 | 54303NAF7 | ASSET BACKED | 1,300,000.0000 | 1,230,803.21 | .13 | |
STCR 2016-1A ER V/R 06/15/31 | 85816TAF8 | ASSET BACKED | 380,000.0000 | 295,215.31 | .03 | |
STRAS 2021-2A A V/R 12/28/29 | 86315TAA3 | ASSET BACKED | 6,743,605.8400 | 6,667,591.91 | .72 | |
VENTR 2014-18A E V/R 10/15/29 | 92329HAH6 | ASSET BACKED | 1,030,000.0000 | 696,544.81 | .08 | |
VIBR 2018-8A A1B V/R 01/20/31 | 92558FAJ8 | ASSET BACKED | 1,291,000.0000 | 1,262,070.88 | .14 | |
T/L PLAYA HOTELS 0% 11/23/2028 | LX209422 | LOAN | 11,281,000.0000 | 11,243,434.27 | 1.22 | |
AMIT 2005-4 M3 V/R 10/25/35 | 00252FCV1 | ASSET BACKED | 2,010,471.4200 | 1,968,966.64 | .21 | |
ACCR 2006-2 M1 V/R 09/25/36 | 00437NAE2 | ASSET BACKED | 2,430,000.0000 | 2,218,939.68 | .24 | |
ARMT 2005-2 6M2 V/R 06/25/35 | 007036HA7 | ASSET BACKED | 2,125,608.3900 | 2,052,260.66 | .22 | |
ARROW BIDCO LLC 9.5% 03/15/24 | 042728AA3 | CORPORATE BONDS | 16,354,000.0000 | 16,333,384.47 | 1.77 | |
ABFC 2003-OPT1 A V/R 04/25/33 | 04542BDG4 | ASSET BACKED | 3,166,707.8200 | 2,925,944.92 | .32 | |
ABSHE 2007-HE1 A V/R 12/25/36 | 04544RAC9 | ASSET BACKED | 1,242,516.5500 | 1,197,447.24 | .13 | |
BALTA 2006-8 3A1 V/R 02/25/34 | 07387QAX8 | ASSET BACKED | 676,557.2700 | 592,859.96 | .06 | |
CWL 2004-2 M1 V/R 05/25/34 | 1266713Z7 | ASSET BACKED | 1,236,592.6100 | 1,217,058.40 | .13 | |
CWALT 2005-61 2A V/R 12/25/35 | 12668AVQ5 | ASSET BACKED | 2,013,211.1900 | 1,701,025.95 | .18 | |
CWL 2007-2 2A3 V/R 08/25/37 | 12668NAD9 | ASSET BACKED | 700,211.8400 | 687,521.76 | .07 | |
CWL 2007-12 2A3 V/R 09/25/35_ | 126697AE1 | ASSET BACKED | 273,408.0200 | 272,007.41 | .03 | |
CALUMET SPECIALTY 11% 04/15/25 | 131477AT8 | CORPORATE BONDS | 12,110,000.0000 | 12,556,253.50 | 1.36 | |
CARR 2006-NC3 A3 V/R 08/25/36 | 144528AC0 | ASSET BACKED | 2,418,351.7200 | 2,272,990.89 | .25 | |
CHEC 2004-1 A3 V/R 07/25/34 | 162765AC5 | ASSET BACKED | 2,187,425.4000 | 2,067,064.07 | .22 | |
CINEMARK USA IN 5.25% 07/15/28 | 172441BF3 | CORPORATE BONDS | 19,093,000.0000 | 16,042,893.25 | 1.74 | |
CAS 2019-R02 1B1 V/R 08/25/31 | 20753KAF9 | ASSET BACKED | 3,159,000.0000 | 3,226,030.19 | .35 | |
CAS 2019-R03 1B1 V/R 09/25/31 | 20753MAE8 | ASSET BACKED | 3,060,000.0000 | 3,129,399.58 | .34 | |
CAS 2019-R01 2B1 V/R 07/25/31 | 20754FAL6 | ASSET BACKED | 6,734,000.0000 | 6,953,048.27 | .75 | |
CAS 2019-HRP1 B1 V/R 11/25/39 | 20754PAD2 | ASSET BACKED | 8,873,000.0000 | 8,950,324.65 | .97 | |
DBALT 2007-OA5 A V/R 12/25/15 | 25150XAA0 | ASSET BACKED | 3,213,426.0200 | 2,812,436.73 | .30 | |
EMIR 2019-1 M1B V/R 04/25/29 | 269822AB8 | ASSET BACKED | 3,007,823.7800 | 3,007,821.07 | .33 | |
ELAT 2007-1 A1 V/R 05/25/37 | 288542AA1 | ASSET BACKED | 1,733,162.7400 | 1,657,380.89 | .18 | |
EMLT 2003-2 1A1 V/R 09/25/33 | 29445FAF5 | ASSET BACKED | 2,728,024.0900 | 2,611,111.89 | .28 | |
FNBA 2004-AR1 M2 V/R 08/19/34 | 30251YAE8 | ASSET BACKED | 2,665,570.0500 | 2,601,996.47 | .28 | |
CAS 2016-C01 1M2 V/R 08/25/28 | 30711XBM5 | ASSET BACKED | 1,062,156.7800 | 1,125,132.48 | .12 | |
CAS 2016-C01 1B V/R 08/25/28 | 30711XBQ6 | ASSET BACKED | 531,642.3600 | 600,532.79 | .07 | |
CAS 2016-C02 1B V/R 09/25/28 | 30711XCH5 | ASSET BACKED | 3,392,435.3500 | 3,845,828.23 | .42 | |
CAS 2016-C03 1B V/R 10/25/28 | 30711XCR3 | ASSET BACKED | 486,193.1000 | 546,081.30 | .06 | |
CAS 2016-C03 2M2 V/R 10/25/28 | 30711XCT9 | ASSET BACKED | 3,265,222.4100 | 3,458,761.28 | .37 | |
CAS 2016-C04 1B V/R 01/25/29 | 30711XDB7 | ASSET BACKED | 1,261,103.8900 | 1,368,765.97 | .15 | |
CAS 2016-C06 1B V/R 04/25/29 | 30711XDY7 | ASSET BACKED | 4,649,839.2900 | 4,925,290.19 | .53 | |
CAS 2017-C02 2B1 V/R 09/25/29 | 30711XGQ1 | ASSET BACKED | 5,234,000.0000 | 5,789,529.96 | .63 | |
CAS 2018-C03 1B1 V/R 10/25/30 | 30711XJ62 | ASSET BACKED | 6,845,000.0000 | 7,194,689.15 | .78 | |
STACR 2015-DNA2 V/R 12/25/27 | 3137G0FZ7 | ASSET BACKED | 5,532,428.2400 | 5,644,151.20 | .61 | |
STACR 2016-DNA1 V/R 07/25/28 | 3137G0HZ5 | ASSET BACKED | 1,911,457.5600 | 2,035,208.38 | .22 | |
STACR 2016-HQA3 V/R 03/25/29 | 3137G0LF4 | ASSET BACKED | 1,982,378.5600 | 2,059,311.30 | .22 | |
STACR 2016-DNA4 V/R 03/25/29 | 3137G0LK3 | ASSET BACKED | 1,067,674.5700 | 1,089,168.78 | .12 | |
STACR 2017-DNA2 V/R 10/25/29 | 3137G0PS2 | ASSET BACKED | 554,312.9500 | 570,406.76 | .06 | |
STACR 2017-DNA3 V/R 03/25/30 | 3137G0RJ0 | ASSET BACKED | 4,000,000.0000 | 4,242,140.80 | .46 | |
STACR 2017-HQA3 V/R 04/25/30 | 3137G0SE0 | ASSET BACKED | 4,290,000.0000 | 4,576,977.83 | .50 | |
STACR 2018-HRP1 V/R 04/25/43 | 3137G0VA4 | ASSET BACKED | 5,500,000.0000 | 5,555,298.65 | .60 | |
STACR 2018-HRP1 V/R 05/25/43 | 3137G0VB2 | ASSET BACKED | 4,772,753.8600 | 5,240,270.40 | .57 | |
STACR 2019-DNA1 V/R 01/25/49 | 35563KBD1 | ASSET BACKED | 5,000,000.0000 | 5,341,075.00 | .58 | |
STACR 2019-HQA1 V/R 02/25/49 | 35563MBD7 | ASSET BACKED | 5,620,000.0000 | 5,899,151.58 | .64 | |
STACR 2019-HQA1 V/R 02/25/49 | 35563MBE5 | ASSET BACKED | 4,030,000.0000 | 4,721,020.47 | .51 | |
STACR 2018-DNA2 V/R 12/25/30 | 35563TAV3 | ASSET BACKED | 6,494,000.0000 | 6,736,726.24 | .73 | |
STACR 2018-HQA2 V/R 10/25/48 | 35563XBD3 | ASSET BACKED | 5,310,000.0000 | 5,642,840.36 | .61 | |
STACR 2018-HRP2 V/R 02/25/47 | 35564ACB5 | ASSET BACKED | 1,440,000.0000 | 1,475,936.93 | .16 | |
STACR 2021-HQA1 V/R 08/25/33 | 35564KCP2 | ASSET BACKED | 2,601,000.0000 | 2,117,476.18 | .23 | |
STACR 2021-DNA2 V/R 08/25/33 | 35564KDY2 | ASSET BACKED | 1,280,000.0000 | 1,130,314.24 | .12 | |
STACR 2021-HQA2 V/R 12/25/33 | 35564KGS2 | ASSET BACKED | 2,990,000.0000 | 2,443,477.63 | .26 | |
STACR 2021-DNA5 V/R 01/25/34 | 35564KJB6 | ASSET BACKED | 3,060,000.0000 | 2,569,800.55 | .28 | |
STACR 2019-DNA2 V/R 03/25/49 | 35564LBD8 | ASSET BACKED | 5,000,000.0000 | 5,199,042.00 | .56 | |
STACR 2019-DNA2 V/R 03/25/49 | 35564LBE6 | ASSET BACKED | 5,000,000.0000 | 5,649,386.00 | .61 | |
STACR 2019-HQA2 V/R 04/25/49 | 35564MBD6 | ASSET BACKED | 5,500,000.0000 | 5,680,870.25 | .62 | |
STACR 2019-HQA2 V/R 04/25/49 | 35564MBE4 | ASSET BACKED | 3,930,000.0000 | 4,466,057.50 | .48 | |
STACR 2019-FTR1 V/R 01/25/48 | 35564PAC2 | ASSET BACKED | 5,800,000.0000 | 6,090,860.14 | .66 | |
STACR 2019-HRP1 V/R 02/25/49 | 35564RCC6 | ASSET BACKED | 5,000,000.0000 | 4,925,615.50 | .53 | |
STACR 2019-DNA3 V/R 07/25/49 | 35564TBE9 | ASSET BACKED | 4,870,000.0000 | 5,120,466.05 | .55 | |
STACR 2019-FTR2 V/R 11/25/48 | 35564WBE2 | ASSET BACKED | 4,920,000.0000 | 4,917,092.28 | .53 | |
STACR 2019-DNA4 V/R 10/25/49 | 35565ABE9 | ASSET BACKED | 4,588,000.0000 | 4,565,296.28 | .49 | |
STACR 2019-FTR4 V/R 11/25/47 | 35565GAE7 | ASSET BACKED | 4,349,000.0000 | 3,809,834.03 | .41 | |
STACR 2020-DNA1 V/R 01/25/50 | 35565HBE4 | ASSET BACKED | 5,438,000.0000 | 5,067,411.72 | .55 | |
STACR 2020-HQA3 V/R 07/25/50 | 35565MBD5 | ASSET BACKED | 3,432,102.6000 | 3,684,634.65 | .40 | |
STACR 2020-HQA3 V/R 07/25/50 | 35565MBE3 | ASSET BACKED | 1,280,000.0000 | 1,448,850.18 | .16 | |
STACR 2020-HQA4 V/R 09/25/50 | 35565RBE2 | ASSET BACKED | 1,260,000.0000 | 1,387,328.67 | .15 | |
STACR 2020-HQA5 V/R 11/25/50 | 35565TBE8 | ASSET BACKED | 2,130,000.0000 | 2,044,911.83 | .22 | |
STACR 2020-DNA4 V/R 08/25/50 | 35565XBD1 | ASSET BACKED | 8,570,501.9200 | 9,300,169.60 | 1.01 | |
STACR 2020-DNA5 V/R 10/25/50 | 35566ABE8 | ASSET BACKED | 3,780,000.0000 | 4,492,059.77 | .49 | |
STACR 2020-DNA6 V/R 12/25/50 | 35566CBE4 | ASSET BACKED | 5,600,000.0000 | 5,251,306.48 | .57 | |
FHLT 2003-A M1 V/R 08/25/33 | 35729PBL3 | ASSET BACKED | 4,825,354.8400 | 4,678,923.66 | .51 | |
FULL HOUSE RESO 8.25% 02/15/28 | 359678AC3 | CORPORATE BONDS | 3,049,000.0000 | 2,926,816.84 | .32 | |
GOLDEN ENTERTA 7.625% 04/15/26 | 381013AA9 | CORPORATE BONDS | 18,191,000.0000 | 18,241,570.98 | 1.98 | |
HEAT 2005-6 M5 V/R 12/25/35 | 437084NG7 | ASSET BACKED | 2,370,000.0000 | 2,196,189.65 | .24 | |
HMBT 2005-4 M3 V/R 10/25/35 | 43739EBW6 | ASSET BACKED | 2,448,030.0000 | 2,091,390.95 | .23 | |
INDX 2006-FLX1 A V/R 11/25/36 | 45667WAA6 | ASSET BACKED | 3,658,911.4200 | 3,368,989.16 | .36 | |
JPMAC 2007-CH4 A V/R 11/25/13 | 46630CAE4 | ASSET BACKED | 2,196,226.2400 | 2,176,533.12 | .24 | |
KOHL'S CORPORA 3.625% 05/01/31 | 500255AX2 | CORPORATE BONDS | 5,926,000.0000 | 4,166,570.60 | .45 | |
LBMLT 2004-4 M1 V/R 10/25/34 | 542514HT4 | ASSET BACKED | 2,500,722.0600 | 2,314,361.25 | .25 | |
MABS 2004-WMC1 M V/R 02/25/34 | 57643LCW4 | ASSET BACKED | 2,501,406.3700 | 2,478,948.74 | .27 | |
MLMI 2005-FM1 M1 V/R 05/25/36 | 59020UC29 | ASSET BACKED | 548,635.0900 | 538,764.27 | .06 | |
MLMI 2006-OPT1 A V/R 08/25/37 | 59022VAD3 | ASSET BACKED | 1,941,181.6800 | 1,809,287.31 | .20 | |
NSTR 2007-C 1AV1 V/R 06/25/37 | 63860KAA0 | ASSET BACKED | 1,816,864.6100 | 1,767,451.71 | .19 | |
NSTR 2007-C 1AV1 V/R 06/25/37 | 63860KAA0 | ASSET BACKED | -1,816,864.6100 | -1,767,451.71 | -.19 | |
NHEL 2006-1 A2C V/R 05/25/36 | 669884AD0 | ASSET BACKED | 1,423,649.1900 | 1,403,801.53 | .15 | |
OOMLT 2005-3 M2 V/R 08/25/35 | 68389FHT4 | ASSET BACKED | 137,803.8600 | 137,107.36 | .01 | |
PPSI 2005-WCH1 M V/R 01/25/36 | 70069FFM4 | ASSET BACKED | 3,600,000.0000 | 3,281,213.52 | .36 | |
PPSI 2005-WCW2 M V/R 07/25/35 | 70069FLH8 | ASSET BACKED | 1,081,362.2900 | 1,065,570.29 | .12 | |
WILLIAMS SCOTS 6.125% 06/15/25 | 71953LAA9 | CORPORATE BONDS | 596,000.0000 | 585,067.69 | .06 | |
RAMP 2004-RS8 MI V/R 08/25/34 | 76112BAN0 | ASSET BACKED | 2,555,626.2800 | 2,447,768.12 | .27 | |
SURF 2004-BC1 M1 V/R 02/25/35 | 84751PBZ1 | ASSET BACKED | 2,588,742.1400 | 2,480,766.22 | .27 | |
SASC 2005-WF4 M8 V/R 11/25/35 | 863576DN1 | ASSET BACKED | 2,600,000.0000 | 2,464,822.36 | .27 | |
SASC 2006-GEL1 M V/R 11/25/35 | 863576EH3 | ASSET BACKED | 1,338,753.5200 | 1,317,604.83 | .14 | |
STRUCTURED ASSET INV 2004-2 A4 20340325 FLT | 86358EGW0 | ASSET BACKED | 4,014,259.3600 | 3,778,143.43 | .41 | |
SASC 2006-BC6 A4 V/R 01/25/37 | 86362VAD4 | ASSET BACKED | 807,949.9600 | 790,856.73 | .09 | |
SASC 2007-BC3 2A V/R 06/25/13 | 86363WAG4 | ASSET BACKED | 925,929.0800 | 878,206.05 | .10 | |
TEGNA INC 5% 09/15/29 | 87901JAH8 | CORPORATE BONDS | 2,188,000.0000 | 1,941,193.60 | .21 | |
TEGNA INC 4.625% 03/15/28 | 87901JAJ4 | CORPORATE BONDS | 2,028,000.0000 | 1,804,920.00 | .20 | |
TMTS 2006-5 1A2C V/R 07/25/37 | 8815612G8 | ASSET BACKED | 6,738,000.0000 | 6,269,905.08 | .68 | |
TMTS 2006-7 1A2C V/R 07/25/37 | 88156PAD3 | ASSET BACKED | 2,465,000.0000 | 2,093,672.65 | .23 | |
VISTRA CORP V/R /PERP/ | 92840MAC6 | CORPORATE BONDS | 13,154,000.0000 | 12,303,330.82 | 1.33 | |
T/L TOPGOLF INTERN 0% 02/09/26 | LX177302 | LOAN | 9,651,005.1900 | 9,638,941.43 | 1.04 | |
CXT 2I65BRYO2 05.000 SP A15-E25 12/20/2025 MSCSNY SHORT | SCCDS2714 | SWAPS | -10,000,000.0000 | -10,000,000.00 | -1.08 | |
CXT 2I65BRYO2 05.000 SP A15-E25 12/20/2025 MSCSNY LONG | SCCDS2714 | SWAPS | 10,000,000.0000 | 10,541,943.60 | 1.14 | |
CXT 2I65BRZF0 05.000 SP A25 - E35 12/20/2026 MSCSNY LONG | SCCDS4217 | SWAPS | 20,000,000.0000 | 22,122,186.80 | 2.40 | |
CXT 2I65BRZF0 05.000 SP A25- E35 12/20/2026 MSCSNY SHORT | SCCDS4217 | SWAPS | -20,000,000.0000 | -20,000,000.00 | -2.17 | |
CXT 2I65BYEB7 01.000 SP 12/20/2027 A3 - E7 GOLDNY LONG | SCCDS4369 | SWAPS | 20,000,000.0000 | 17,808,617.40 | 1.93 | |
CXT 2I65BYEB7 01.000 SP 12/20/2027 A3 - E7 GOLDNY SHORT | SCCDS4369 | SWAPS | -20,000,000.0000 | -20,000,000.00 | -2.17 | |
CXT 2I65BYEB7 01.000 SP 12/20/2027 A3 - E7 MSCSNY SHORT | SCCDS4596 | SWAPS | -20,000,000.0000 | -20,000,000.00 | -2.17 | |
CXT 2I65BYEB7 01.000 SP 12/20/2027 A3- E7 MSCSNY LONG | SCCDS4596 | SWAPS | 20,000,000.0000 | 17,808,617.40 | 1.93 | |
CXT 2I65BRZD5 05.000 SP A15-E25 12/20/2025 MSCSNY SHORT | SCCDS4654 | SWAPS | -10,000,000.0000 | -10,000,000.00 | -1.08 | |
CXT 2I65BRZD5 05.000 SP A15-E25 12/20/2025 MSCSNY LONG | SCCDS4654 | SWAPS | 10,000,000.0000 | 10,541,943.60 | 1.14 | |
CXT 2I65BRZH6 05.000 SP A25-E35 12/20/2027 MSCSNY LONG | SCCDS4674 | SWAPS | 25,000,000.0000 | 26,754,502.25 | 2.90 | |
CXT 2I65BRZH6 05.000 SP A25-E35 12/20/2027 MSCSNY SHORT | SCCDS4674 | SWAPS | -25,000,000.0000 | -25,000,000.00 | -2.71 | |
CFD CANNAE HOLDINGS INC | TRSBFMQPR2USD | SWAPS | -11,177,559.3600 | -11,177,559.36 | -1.21 | |
CFD GSCBGDEN | TRSGSCBGDENUSD | SWAPS | 9,917,368.2900 | 9,917,368.29 | 1.07 | |
CFD GSCNNED3 | TRSGSCNNED3USD | SWAPS | 12,535,332.2600 | 12,535,332.26 | 1.36 |
As of 02/28/2023.
Distributions
Fund Name | Fund Cusip | Distribution Type | Amount per Share | Ex Date | Reinvest Date | Reinvest Price |
---|---|---|---|---|---|---|
Destinations Multi Strategy Alternatives Fund | 10964R772 | Dividend | 0.140779 | 12/29/2022 | 12/29/2022 | $9.51 |
Destinations Multi Strategy Alternatives Fund | 10964R772 | Long-Term Capital Gains | 0.027439 | 12/15/2022 | 12/15/2022 | $9.68 |
Destinations Multi Strategy Alternatives Fund | 10964R772 | Dividend | 0.074317 | 9/29/2022 | 9/29/2022 | $9.42 |
Destinations Multi Strategy Alternatives Fund | 10964R772 | Dividend | 0.051762 | 6/29/2022 | 6/29/2022 | $9.49 |
Destinations Multi Strategy Alternatives Fund | 10964R772 | Dividend | 0.016687 | 3/30/2022 | 3/30/2022 | $10.03 |
Destinations Multi Strategy Alternatives Fund | 10964R772 | Dividend | 0.171461 | 12/29/2021 | 12/29/2021 | $10.12 |
Destinations Multi Strategy Alternatives Fund | 10964R772 | Short-Term Capital Gains | 0.061257 | 12/16/2021 | 12/16/2021 | $10.23 |
Destinations Multi Strategy Alternatives Fund | 10964R772 | Long-Term Capital Gains | 0.203343 | 12/16/2021 | 12/16/2021 | $10.23 |
Destinations Multi Strategy Alternatives Fund | 10964R772 | Dividend | 0.024733 | 9/29/2021 | 9/29/2021 | $10.50 |
Destinations Multi Strategy Alternatives Fund | 10964R772 | Dividend | 0.029141 | 6/29/2021 | 6/29/2021 | $10.46 |
Destinations Multi Strategy Alternatives Fund | 10964R772 | Dividend | 0.010803 | 3/30/2021 | 3/30/2021 | $10.32 |
Destinations Multi Strategy Alternatives Fund | 10964R772 | Dividend | 0.036471 | 12/29/2020 | 12/29/2020 | $10.09 |
Destinations Multi Strategy Alternatives Fund | 10964R772 | Dividend | 0.045023 | 9/29/2020 | 9/29/2020 | $9.52 |
Destinations Multi Strategy Alternatives Fund | 10964R772 | Dividend | 0.059652 | 6/29/2020 | 6/29/2020 | $9.17 |
Destinations Multi Strategy Alternatives Fund | 10964R772 | Dividend | 0.024214 | 3/30/2020 | 3/30/2020 | $8.08 |
Destinations Multi Strategy Alternatives Fund | 10964R772 | Dividend | 0.158817 | 12/27/2019 | 12/27/2019 | $9.32 |
Destinations Multi Strategy Alternatives Fund | 10964R772 | Long-Term Capital Gains | 0.032460 | 12/16/2019 | 12/16/2019 | $9.37 |
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 | 0.25% |
AFFE | 0.11% |
Total Annual Fund Operating Expenses | 1.71% |
Fee waivers and expense reimbursements | (0.44%) |
Total Annual Fund Operating Expenses Less Fee Waivers and Expense Reimbursements | 1.27%* |
*The Fund’s adviser, Brinker Capital Investments, LLC (“Brinker Capital” or the “Adviser”), has contractually agreed to waive a portion of its management fee 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 fee waiver and reimbursement agreement shall remain in effect until June 30, 2023 and 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 Investments LLC
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.