Destinations Small-Mid Cap Equity Fund

Overview

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

Employing a multi-manager approach, the Fund currently allocates assets among the following sub-advisers:

  • Ceredex Value Advisors LLC is the sub-adviser of Ceredex Mid-Cap Value which employes a disciplined and methodical bottom-up stock selection process with an emphasis on dividends, valuation and fundamentals.
  • Driehaus Capital Management LLC is the sub-adviser of Driehaus Micro Cap Growth which focuses on micro and small cap companies with company-specific growth inflection points.
  • LMCG Investments, LLC is the sub-adviser of the LMCG Small Cap Value Strategy which employs a classic value approach with an emphasis on purchasing high quality companies at a discount to intrinsic value.
Fund performance as of 9/30/17
Annualized
MTD QTD YTD 1 Year 3 Years 5 Years Since
Inception
Destinations Small-Mid Cap Equity Fund
4.36%
2.97%
N/A
N/A
N/A
N/A
7.60%
Russell 2500 Index
4.54%
4.74%
N/A
N/A
N/A
N/A
6.52%

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. Year-to-date (YTD) returns are not listed for the Funds as a full year of performance does not yet exist.

*Effective March 20, 2017, 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, 2018. The agreement may be amended or terminated only with the consent of the Board of Trustees.

Russell 2500 Index Definition: A market cap weighted index that includes the smallest 2,500 companies covered in the Russell 3000 universe of United States-based listed equities. One cannot invest directly in an index.

An investment in the Destinations Small-Mid Cap Equity Fund is subject to risk, including the possible loss of principal amount invested.

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.

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.

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.

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.

Fund facts
  • Ticker: DSMFX
  • CUSIP: 10964R202
  • Benchmark: Russell 2500 Index
  • Inception date: 03/20/2017
  • Gross expense ratio: 1.15%
  • Net expense ratio: 1.02%*
Daily NAV Date: 12/11/2017

Management team

  • Jeffrey W. Raupp
    Jeffrey W. Raupp Director of Investments

    Jeffrey W. Raupp, CFA, MBA, is Director of Investments 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.

  • Amy L. Magnotta
    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.

  • Leigh A. Lowman
    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

Fund performance as of 9/30/17
Annualized
MTD QTD YTD 1 Year 3 Years 5 Years Since
Inception
Inception
Date
Gross
expense
ratio
Net
expense
ratio*
Destinations Small-Mid Cap Equity Fund
4.36%
2.97%
N/A
N/A
N/A
N/A
7.60%
3/20/2017
1.15%
1.02%
Russell 2500 Index
4.54%
4.74%
N/A
N/A
N/A
N/A
6.52%

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. Year-to-date (YTD) returns are not listed for the Funds as a full year of performance does not yet exist.

*Effective March 20, 2017, 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, 2018. The agreement may be amended or terminated only with the consent of the Board of Trustees.

Russell 2500 Index Definition: A market cap weighted index that includes the smallest 2,500 companies covered in the Russell 3000 universe of United States-based listed equities. One cannot invest directly in an index.

Holdings

Security DescriptionTicker SymbolSecurity IDSecurity Type DescriptionQuantityBase Market ValuePercent TNA
US DOLLARSCASHUSDCURRENCY23,384,230.850023,384,230.853.79
MATERIALISE NV-ADRMTLS57667T100COMMON STOCK40,358.0000589,226.80.10
VALIDUS HOLDINGS LTDVRB23HRW2COMMON STOCK21,706.00001,067,501.08.17
BANK OF NT BUTTERFIELD & SONNTBBD8FF02COMMON STOCK30,381.00001,208,556.18.20
CLEMENTIA PHARMACEUTICALS INCMTA185575107COMMON STOCK57,226.0000909,321.14.15
MASONITE INTERNATIONAL CORPDOOR575385109COMMON STOCK11,382.0000838,284.30.14
ICHOR HOLDINGS LTDICHRBD2B5Y0COMMON STOCK58,242.00001,654,655.22.27
SMART GLOBAL HOLDINGS INCSGHBYPBTG4COMMON STOCK69,092.00002,072,069.08.34
TALEND SA - ADRTLND874224207COMMON STOCK18,399.0000735,408.03.12
PERRIGO COMPANY PLCPRGOG97822103COMMON STOCK57,200.00004,988,412.00.81
RADCOM LTDRDCM2117124COMMON STOCK36,495.0000731,724.75.12
NOVA MEASURING INSTRUMENTSNVMI2577740COMMON STOCK23,314.0000648,362.34.11
FOAMIX PHARMACEUTICALS LTDFOMXBQRB1Q0COMMON STOCK76,977.0000437,999.13.07
SILICOM LTDSILCM84116108COMMON STOCK12,464.0000905,135.68.15
SODASTREAM INTERNATIONAL LTDSODAM9068E105COMMON STOCK13,853.0000974,974.14.16
MIMECAST LTDMIMEBYT5JK6COMMON STOCK64,523.00001,961,499.20.32
CORE LABORATORIES N.V.CLBN22717107COMMON STOCK27,400.00002,760,550.00.45
AXT INCAXTI00246W103COMMON STOCK115,316.00001,112,799.40.18
ACLARIS THERAPEUTICS INCACRS00461U105COMMON STOCK22,796.0000540,493.16.09
ACTUANT CORP-AATU00508X203COMMON STOCK31,800.0000839,520.00.14
ACUITY BRANDS INCAYI00508Y102COMMON STOCK25,300.00004,336,926.00.70
ADAMAS PHARMACEUTICALS INCADMS00548A106COMMON STOCK30,952.00001,149,866.80.19
ADESTO TECHNOLOGIES CORPIOTS00687D101COMMON STOCK124,513.00001,021,006.60.17
AERIE PHARMACEUTICALS INCAERI00771V108COMMON STOCK11,590.0000744,657.50.12
ADVANSIX INCASIX00773T101COMMON STOCK14,632.0000629,907.60.10
AFFILIATED MANAGERS GROUPAMG008252108COMMON STOCK18,700.00003,715,129.00.60
AIR PRODUCTS & CHEMICALS INCAPD009158106COMMON STOCK14,300.00002,331,472.00.38
AIR TRANSPORT SERVICES GROUPATSG00922R105COMMON STOCK49,883.00001,209,662.75.20
ALASKA AIR GROUP INCALK011659109COMMON STOCK61,500.00004,253,955.00.69
ALLEGHENY TECHNOLOGIES INCATI01741R102COMMON STOCK41,563.0000946,389.51.15
ALTAIR ENGINEERING INC - AALTR021369103COMMON STOCK37,207.0000833,064.73.13
ALTERYX INC - CLASS AAYX02156B103COMMON STOCK11,128.0000277,754.88.04
ALTRA INDUSTRIAL MOTION CORPAIMC02208R106COMMON STOCK29,553.00001,436,275.80.23
AMERICAN CAMPUS COMMUNITIESACC024835100REIT - Real Estate Invesment Trust142,000.00006,017,960.00.97
AMERICAN HOMES 4 RENT- AAMH02665T306REIT - Real Estate Invesment Trust222,800.00004,785,744.00.78
AMERISOURCEBERGEN CORPABC03073E105COMMON STOCK77,000.00006,531,140.001.06
AMTECH SYSTEMS INCASYS032332504COMMON STOCK60,334.0000596,099.92.10
ANADARKO PETROLEUM CORPAPC032511107COMMON STOCK72,700.00003,496,143.00.57
ANALOG DEVICES INCADI032654105COMMON STOCK42,700.00003,676,897.00.60
ARRAY BIOPHARMA INCARRY04269X105COMMON STOCK189,795.00002,135,193.75.35
ASURE SOFTWARE INCASUR04649U102COMMON STOCK39,444.0000566,415.84.09
ATLAS AIR WORLDWIDE HOLDINGSAAWW049164205COMMON STOCK13,209.0000762,819.75.12
AUDENTES THERAPEUTICS INCBOLD05070R104COMMON STOCK26,851.0000774,919.86.13
AXCELIS TECHNOLOGIES INCACLS054540208COMMON STOCK30,958.0000990,656.00.16
AXOGEN INCAXGN05463X106COMMON STOCK84,625.00002,259,487.50.37
B&G FOODS INCBGS05508R106COMMON STOCK20,855.0000807,088.50.13
BANC OF CALIFORNIA INCBANC05990K106COMMON STOCK22,490.0000507,149.50.08
BANKUNITED INCBKU06652K103COMMON STOCK48,781.00001,816,116.63.29
BLACKHAWK NETWORK HOLDINGS I09238E104COMMON STOCK21,297.0000782,664.75.13
BLACKSTONE MORTGAGE TRU-CL ABXMT09257W100REIT - Real Estate Invesment Trust59,573.00001,949,228.56.32
BLUEPRINT MEDICINES CORPBPMC09627Y109COMMON STOCK16,401.00001,231,059.06.20
BLUEGREEN VACATIONS CORPBXG09629F108COMMON STOCK42,898.0000709,103.94.11
BOINGO WIRELESS INCWIFI09739C102COMMON STOCK63,170.00001,560,299.00.25
BOOT BARN HOLDINGS INCBOOT099406100COMMON STOCK29,543.0000437,531.83.07
BROADSOFT INCBSFT11133B409COMMON STOCK9,569.0000526,295.00.09
BUFFALO WILD WINGS INCBWLD119848109COMMON STOCK5,312.0000828,406.40.13
CMS ENERGY CORPCMS125896100COMMON STOCK53,700.00002,679,630.00.43
CSRA INCCSRA12650T104COMMON STOCK53,883.00001,558,835.19.25
CABOT OIL & GAS CORPCOG127097103COMMON STOCK147,400.00004,267,230.00.69
CACI INTERNATIONAL INC -CL ACACI127190304COMMON STOCK6,949.0000916,920.55.15
CALAVO GROWERS INCCVGW128246105COMMON STOCK8,046.0000614,714.40.10
CALLAWAY GOLF COMPANYELY131193104COMMON STOCK132,427.00001,921,515.77.31
CALLON PETROLEUM COCPE13123X102COMMON STOCK73,971.0000816,639.84.13
CAREER EDUCATION CORPCECO141665109COMMON STOCK17,436.0000231,375.72.04
CARRIZO OIL & GAS INCCRZO144577103COMMON STOCK50,817.0000982,292.61.16
CASELLA WASTE SYSTEMS INC-ACWST147448104COMMON STOCK43,311.0000923,390.52.15
CATALYST PHARMACEUTICALS INCCPRX14888U101COMMON STOCK149,419.0000642,501.70.10
CENTURY CASINOS INCCNTY156492100COMMON STOCK93,618.0000847,242.90.14
CEVA INCCEVA157210105COMMON STOCK13,137.0000624,007.50.10
CHARLES RIVER LABORATORIESCRL159864107COMMON STOCK13,026.00001,357,309.20.22
CHEGG INCCHGG163092109COMMON STOCK79,207.00001,204,738.47.20
CHEMICAL FINANCIAL CORPCHFC163731102COMMON STOCK25,343.00001,429,091.77.23
CLEAN HARBORS INCCLH184496107COMMON STOCK18,792.00001,012,137.12.16
COGENT COMMUNICATIONS HOLDINCCOI19239V302COMMON STOCK15,622.0000731,890.70.12
COLUMBIA PROPERTY TRUST INC198287203REIT - Real Estate Invesment Trust59,231.00001,348,689.87.22
COLUMBUS MCKINNON CORP/NYCMCO199333105COMMON STOCK19,569.0000781,585.86.13
CONAGRA BRANDS INCCAG205887102COMMON STOCK65,500.00002,445,115.00.40
CONN'S INCCONN208242107COMMON STOCK41,520.00001,282,968.00.21
CONTROL4 CORPCTRL21240D107COMMON STOCK22,936.0000762,392.64.12
CORPORATE OFFICE PROPERTIESOFC22002T108REIT - Real Estate Invesment Trust44,148.00001,339,450.32.22
COUSINS PROPERTIES INCCUZ222795106REIT - Real Estate Invesment Trust402,800.00003,613,116.00.59
CROCS INCCROX227046109COMMON STOCK91,560.00001,000,750.80.16
CRYOLIFE INCCRY228903100COMMON STOCK31,693.0000644,952.55.10
CYPRESS SEMICONDUCTOR CORPCY232806109COMMON STOCK206,300.00003,302,863.00.54
DARLING INGREDIENTS INCDAR237266101COMMON STOCK66,183.00001,187,984.85.19
DIEBOLD NIXDORF INCDBD253651103COMMON STOCK44,986.0000863,731.20.14
DR PEPPER SNAPPLE GROUP INCDPS26138E109COMMON STOCK68,600.00006,187,034.001.00
EDISON INTERNATIONALEIX281020107COMMON STOCK38,500.00003,128,895.00.51
EDUCATION REALTY TRUST INC28140H203REIT - Real Estate Invesment Trust30,010.00001,097,465.70.18
ELDORADO RESORTS INCERI28470R102COMMON STOCK56,449.00001,727,339.40.28
EMCOR GROUP INCEME29084Q100COMMON STOCK18,156.00001,466,460.12.24
ENERGY RECOVERY INCERII29270J100COMMON STOCK85,042.0000955,021.66.15
ENERGIZER HOLDINGS INCENR29272W109COMMON STOCK108,400.00004,978,812.00.81
ENPRO INDUSTRIES INCNPO29355X107COMMON STOCK20,764.00001,793,386.68.29
ENVISION HEALTHCARE CORPEVHC29414D100COMMON STOCK44,334.00001,415,584.62.23
EVERBRIDGE INCEVBG29978A104COMMON STOCK60,799.00001,611,173.50.26
EVERI HOLDINGS INCEVRI30034T103COMMON STOCK170,774.00001,391,808.10.23
EXPRESS INCEXPR30219E103COMMON STOCK20,062.0000195,403.88.03
EXTERRAN CORPEXTN30227H106COMMON STOCK25,695.0000787,294.80.13
FNB CORPFNB302520101COMMON STOCK151,811.00002,154,198.09.35
FEDERAL SIGNAL CORPFSS313855108COMMON STOCK43,071.0000926,026.50.15
FEDERATED INVESTORS INC-CL BFII314211103COMMON STOCK13,958.0000468,430.48.08
FERRO CORPFOE315405100COMMON STOCK47,027.00001,192,134.45.19
FIRST HORIZON NATIONAL CORPFHN320517105COMMON STOCK84,194.00001,632,521.66.26
FIRST REPUBLIC BANK/CAFRC33616C100COMMON STOCK65,600.00006,267,424.001.02
FIRSTENERGY CORPFE337932107COMMON STOCK116,200.00003,967,068.00.64
FIVE9 INCFIVN338307101COMMON STOCK93,965.00002,303,082.15.37
FORESCOUT TECHNOLOGIES INCFSCT34553D101COMMON STOCK26,815.0000646,777.80.10
FOUNDATION BUILDING MATERIALFBM350392106COMMON STOCK63,376.0000963,948.96.16
FRESHPET INCFRPT358039105COMMON STOCK80,058.00001,521,102.00.25
H.B. FULLER CO.FUL359694106COMMON STOCK18,376.00001,039,530.32.17
FUNKO INC-CLASS AFNKO361008105COMMON STOCK44,275.0000393,162.00.06
GTT COMMUNICATIONS INCGTT362393100COMMON STOCK57,317.00002,318,472.65.38
GMS INCGMS36251C103COMMON STOCK25,571.0000954,054.01.15
GENERAC HOLDINGS INCGNRC368736104COMMON STOCK17,970.0000883,584.90.14
GLOBAL BLOOD THERAPEUTICS INGBT37890U108COMMON STOCK23,939.0000944,393.55.15
GOLDEN ENTERTAINMENT INCGDEN381013101COMMON STOCK24,757.0000849,660.24.14
WR GRACE & COGRA38388F108COMMON STOCK12,775.0000936,535.25.15
GREAT PLAINS ENERGY INCGXP391164100COMMON STOCK135,126.00004,636,173.06.75
H&E EQUIPMENT SERVICES INCHEES404030108COMMON STOCK38,668.00001,438,062.92.23
HAIN CELESTIAL GROUP INCHAIN405217100COMMON STOCK36,223.00001,488,765.30.24
HANCOCK HOLDING COHBHC410120109COMMON STOCK18,676.0000959,012.60.16
HANOVER INSURANCE GROUP INC/THG410867105COMMON STOCK15,298.00001,646,064.80.27
HARRIS CORPHRS413875105COMMON STOCK8,200.00001,184,900.00.19
HARTFORD FINANCIAL SVCS GRPHIG416515104COMMON STOCK72,200.00004,147,168.00.67
HAWAIIAN ELECTRIC INDSHE419870100COMMON STOCK18,847.0000722,782.45.12
HEALTHSOUTH CORPHLS421924309COMMON STOCK33,335.00001,665,083.25.27
HERCULES CAPITAL INCHTGC427096508COMMON STOCK85,594.00001,149,527.42.19
HEXCEL CORPHXL428291108COMMON STOCK20,554.00001,274,348.00.21
HORACE MANN EDUCATORSHMN440327104COMMON STOCK29,443.00001,374,988.10.22
HORMEL FOODS CORPHRL440452100COMMON STOCK88,600.00003,229,470.00.52
HORIZON GLOBAL CORPHZN44052W104COMMON STOCK59,237.0000835,241.70.14
HOSTESS BRANDS INCTWNK44109J106COMMON STOCK62,607.0000880,254.42.14
HUBBELL INCHUBB443510607COMMON STOCK19,300.00002,427,747.00.39
HUMANA INCHUM444859102COMMON STOCK26,000.00006,782,360.001.10
HURON CONSULTING GROUP INCHURN447462102COMMON STOCK27,225.00001,113,502.50.18
IRHYTHM TECHNOLOGIES INCIRTC450056106COMMON STOCK28,982.00001,608,501.00.26
ITT INCITT45073V108COMMON STOCK26,870.00001,456,354.00.24
IBERIABANK CORPIBKC450828108COMMON STOCK23,874.00001,856,203.50.30
IDACORP INCIDA451107106COMMON STOCK10,016.0000989,680.96.16
IMMUNOMEDICS INCIMMU452907108COMMON STOCK55,561.0000603,392.46.10
INFINITY PROPERTY & CASUALTYIPCC45665Q103COMMON STOCK11,524.00001,242,287.20.20
INGEVITY CORPNGVT45688C107COMMON STOCK10,884.0000866,257.56.14
INOGEN INCINGN45780L104COMMON STOCK14,595.00001,878,960.30.30
INTERNAP CORP45885A409COMMON STOCK45,609.0000812,296.29.13
INTERPUBLIC GROUP OF COS INCIPG460690100COMMON STOCK143,700.00002,842,386.00.46
INTERSECT ENT INCXENT46071F103COMMON STOCK16,993.0000519,136.15.08
ISHARES S&P MID-CAP ETFIJH464287507POOLED INVESTMENTS433,262.000082,224,462.3613.32
ISHARES RUSSELL 2000 VALUE EIWN464287630POOLED INVESTMENTS1,661.0000212,242.58.03
ISHARES CORE S&P SMALL-CAP EIJR464287804POOLED INVESTMENTS757,178.000058,666,151.449.50
JACK IN THE BOX INCJACK466367109COMMON STOCK9,400.0000972,994.00.16
KMG CHEMICALS INCKMG482564101COMMON STOCK16,875.0000917,831.25.15
KADANT INCKAI48282T104COMMON STOCK9,126.0000933,589.80.15
KEMET CORPKEM488360207COMMON STOCK35,061.0000540,640.62.09
KINSALE CAPITAL GROUP INCKNSL49714P108COMMON STOCK16,038.0000715,134.42.12
KORN/FERRY INTERNATIONALKFY500643200COMMON STOCK41,179.00001,805,287.36.29
KRATOS DEFENSE & SECURITYKTOS50077B207COMMON STOCK59,540.0000621,002.20.10
LEMAITRE VASCULAR INCLMAT525558201COMMON STOCK15,899.0000523,554.07.08
LEXINGTON REALTY TRUST REITLXP529043101REIT - Real Estate Invesment Trust73,605.0000769,908.30.12
LIFE STORAGE INCLSI53223X107REIT - Real Estate Invesment Trust12,400.00001,113,644.00.18
LIVE OAK BANCSHARES INCLOB53803X105COMMON STOCK67,350.00001,734,262.50.28
LOXO ONCOLOGY INCLOXO548862101COMMON STOCK25,142.00001,929,648.50.31
LUMBER LIQUIDATORS HOLDINGSLL55003T107COMMON STOCK15,643.0000443,479.05.07
WILLIAM LYON HOMES-CL AWLH552074700COMMON STOCK22,314.0000665,849.76.11
MB FINANCIAL INCMBFI55264U108COMMON STOCK160,227.00007,458,566.851.21
MCBC HOLDINGS INCMCFT55276F107COMMON STOCK38,021.0000897,295.60.15
MGP INGREDIENTS INCMGPI55303J106COMMON STOCK13,290.0000988,111.50.16
MACOM TECHNOLOGY SOLUTIONSMTSI55405Y100COMMON STOCK44,545.00001,451,721.55.24
MACQUARIE INFRASTRUCTURE CORMIC55608B105COMMON STOCK91,500.00006,110,370.00.99
STEVEN MADDEN LTDSHOO556269108COMMON STOCK21,883.0000935,498.25.15
MAGNACHIP SEMICONDUCTMX55933J203COMMON STOCK69,752.0000854,462.00.14
MALIBU BOATS INC - AMBUU56117J100COMMON STOCK50,838.00001,589,195.88.26
MARTIN MARIETTA MATERIALSMLM573284106COMMON STOCK36,100.00007,522,879.001.22
MATTHEWS INTL CORP-CLASS AMATW577128101COMMON STOCK14,982.0000848,730.30.14
MAXIMUS INCMMS577933104COMMON STOCK35,600.00002,459,248.00.40
MEDICAL PROPERTIES TRUST INCMPW58463J304REIT - Real Estate Invesment Trust303,700.00004,157,653.00.67
MEDIFAST INCMED58470H101COMMON STOCK6,697.0000458,945.41.07
MERCURY SYSTEMS INCMRCY589378108COMMON STOCK23,084.00001,204,753.96.20
META FINANCIAL GROUP INCCASH59100U108COMMON STOCK10,646.00001,000,191.70.16
MICHAELS COS INC/THEMIK59408Q106COMMON STOCK21,414.0000462,542.40.07
MILACRON HOLDINGS CORPMCRN59870L106COMMON STOCK66,875.00001,179,006.25.19
MITEK SYSTEMS INCMITK606710200COMMON STOCK54,517.0000490,653.00.08
MODINE MANUFACTURING COMOD607828100COMMON STOCK63,639.00001,457,333.10.24
MONARCH CASINO & RESORT INCMCRI609027107COMMON STOCK8,978.0000421,337.54.07
MONMOUTH REAL ESTATE INV CORMNR609720107REIT - Real Estate Invesment Trust54,754.0000977,906.44.16
MOTOROLA SOLUTIONS INCMSI620076307COMMON STOCK66,300.00006,239,493.001.01
MURPHY USA INCMUSA626755102COMMON STOCK32,683.00002,577,054.55.42
MYOKARDIA INCMYOK62857M105COMMON STOCK22,026.0000809,455.50.13
NMI HOLDINGS INC-CLASS ANMIH629209305COMMON STOCK69,127.00001,178,615.35.19
NN INCNNBR629337106COMMON STOCK21,597.0000603,636.15.10
NV5 GLOBAL INCNVEE62945V109COMMON STOCK10,406.0000577,012.70.09
NATERA INCNTRA632307104COMMON STOCK75,249.0000732,172.77.12
NATIONAL GENERAL HLDGSNGHC636220303COMMON STOCK61,044.00001,289,859.72.21
NATIONAL RETAIL PROPERTIESNNN637417106REIT - Real Estate Invesment Trust92,600.00003,803,082.00.62
NEXSTAR MEDIA GROUP INC-CL ANXST65336K103COMMON STOCK23,902.00001,622,945.80.26
NOBLE ENERGY INCNBL655044105COMMON STOCK185,500.00004,878,650.00.79
OLIN CORPOLN680665205COMMON STOCK21,571.0000768,790.44.12
OPTINOSE INCOPTN68404V100COMMON STOCK32,580.0000621,952.20.10
ORTHOPEDIATRICS CORPKIDS68752L100COMMON STOCK56,798.00001,129,712.22.18
OVID THERAPEUTICS INCOVID690469101COMMON STOCK37,925.0000466,856.75.08
OXFORD INDUSTRIES INCOXM691497309COMMON STOCK10,961.0000756,309.00.12
PGT INNOVATIONS INCPGTI69336V101COMMON STOCK53,658.0000877,308.30.14
PPL CORPPPL69351T106COMMON STOCK110,200.00004,041,034.00.65
PACWEST BANCORPPACW695263103COMMON STOCK53,100.00002,530,746.00.41
PATRICK INDUSTRIES INCPATK703343103COMMON STOCK16,610.00001,680,932.00.27
PATTERSON COS INCPDCO703395103COMMON STOCK33,898.00001,238,971.90.20
PERFORMANCE FOOD GROUP COPFGC71377A103COMMON STOCK24,677.0000731,673.05.12
PINNACLE FINANCIAL PARTNERSPNFP72346Q104COMMON STOCK55,700.00003,823,805.00.62
PINNACLE FOODS INCPF72348P104COMMON STOCK42,200.00002,457,306.00.40
PORTLAND GENERAL ELECTRIC COPOR736508847COMMON STOCK34,458.00001,710,495.12.28
PREFERRED BK LOS ANGELES CA COM NEWPFBC740367404COMMON STOCK26,393.00001,652,201.80.27
PROGRESSIVE CORPPGR743315103COMMON STOCK88,800.00004,722,384.00.76
PROPETRO HOLDING CORPPUMP74347M108COMMON STOCK35,883.0000673,523.91.11
Q2 HOLDINGS INCQTWO74736L109COMMON STOCK22,351.0000935,389.35.15
QUINSTREET INCQNST74874Q100COMMON STOCK67,555.0000722,162.95.12
RPM INTERNATIONAL INCRPM749685103COMMON STOCK82,300.00004,359,431.00.71
REGAL BELOIT CORPRBC758750103COMMON STOCK17,348.00001,334,928.60.22
REGAL ENTERTAINMENT GROUP-ARGC758766109COMMON STOCK201,900.00004,080,399.00.66
REPUBLIC SERVICES INCRSG760759100COMMON STOCK47,000.00003,052,180.00.49
RETAIL OPPORTUNITY INVESTMENROIC76131N101REIT - Real Estate Invesment Trust231,900.00004,538,283.00.74
RING ENERGY INCREI76680V108COMMON STOCK47,123.0000668,204.14.11
SLM CORPSLM78442P106COMMON STOCK159,818.00001,849,094.26.30
SRC ENERGY INCSRCI78470V108COMMON STOCK105,451.0000923,750.76.15
SAIA INCSAIA78709Y105COMMON STOCK21,345.00001,404,501.00.23
SCANA CORPSCG80589M102COMMON STOCK84,400.00003,643,548.00.59
SCHNEIDER NATIONAL INC-CL BSNDR80689H102COMMON STOCK106,000.00002,780,380.00.45
SEACOAST BANKING CORP/FLSBCF811707801COMMON STOCK12,583.0000327,535.49.05
SEALED AIR CORPSEE81211K100COMMON STOCK58,300.00002,801,315.00.45
SELECT ENERGY SERVICES INC-AWTTR81617J301COMMON STOCK31,610.0000520,932.80.08
SEMTECH CORPSMTC816850101COMMON STOCK15,348.0000522,599.40.08
SIENTRA INCSIEN82621J105COMMON STOCK43,387.0000617,830.88.10
SILGAN HOLDINGS INCSLGN827048109COMMON STOCK28,215.0000814,849.20.13
SITEONE LANDSCAPE SUPPLY INCSITE82982L103COMMON STOCK9,588.0000716,990.64.12
SNYDERS-LANCE INCLNCE833551104COMMON STOCK23,304.0000901,398.72.15
SOLAREDGE TECHNOLOGIES INCSEDG83417M104COMMON STOCK48,751.00001,774,536.40.29
SOLARIS OILFIELD INFRAST-ASOI83418M103COMMON STOCK70,984.00001,149,940.80.19
SONOCO PRODUCTS COSON835495102COMMON STOCK14,808.0000792,376.08.13
SPARTAN MOTORS INCSPAR846819100COMMON STOCK23,521.0000375,159.95.06
STANDEX INTERNATIONAL CORPSXI854231107COMMON STOCK13,898.00001,487,086.00.24
STERLING BANCORP/DE85917A100COMMON STOCK96,920.00002,456,922.00.40
STERLING BANCORP INC/MISBT85917W102COMMON STOCK57,143.0000708,573.20.11
STERLING CONSTRUCTION COSTRL859241101COMMON STOCK56,819.0000974,445.85.16
STONERIDGE INCSRI86183P102COMMON STOCK35,764.0000816,134.48.13
SYNCHRONY FINANCIALSYF87165B103COMMON STOCK117,800.00004,227,842.00.68
TCF FINANCIAL CORPTCF872275102COMMON STOCK68,493.00001,391,092.83.23
TACTILE SYSTEMS TECHNOLOGY ITCMD87357P100COMMON STOCK72,635.00002,166,702.05.35
TAILORED BRANDS INCTLRD87403A107COMMON STOCK20,745.0000349,760.70.06
TAUBMAN CENTERS INCTCO876664103REIT - Real Estate Invesment Trust83,100.00004,877,139.00.79
TEAM INCTISI878155100COMMON STOCK86,551.00001,190,076.25.19
TELADOC INCTDOC87918A105COMMON STOCK20,478.0000759,733.80.12
TETRA TECH INCTTEK88162G103COMMON STOCK11,647.0000582,350.00.09
TIVITY HEALTH INCTVTY88870R102COMMON STOCK18,359.0000675,611.20.11
TREEHOUSE FOODS INCTHS89469A104COMMON STOCK18,835.0000866,786.70.14
TRIMAS CORPTRS896215209COMMON STOCK44,677.00001,157,134.30.19
TRISTATE CAPITAL HLDGS INCTSC89678F100COMMON STOCK21,848.0000528,721.60.09
TRIUMPH BANCORP INCTBK89679E300COMMON STOCK20,249.0000673,279.25.11
TRIUMPH GROUP INCTGI896818101COMMON STOCK21,724.0000671,271.60.11
UNIVEST CORP OF PENNSYLVANIAUVSP915271100COMMON STOCK48,904.00001,374,202.40.22
UPLAND SOFTWARE INCUPLD91544A109COMMON STOCK33,799.0000792,248.56.13
VALVOLINE INCVVV92047W101COMMON STOCK151,471.00003,735,274.86.61
VARONIS SYSTEMS INCVRNS922280102COMMON STOCK36,273.00001,824,531.90.30
VIAVI SOLUTIONS INCVIAV925550105COMMON STOCK69,504.0000651,252.48.11
VIRTUSA CORPVRTU92827P102COMMON STOCK52,392.00002,428,369.20.39
VOCERA COMMUNICATIONS INCVCRA92857F107COMMON STOCK27,579.0000808,064.70.13
WEYERHAEUSER COWY962166104REIT - Real Estate Invesment Trust67,300.00002,381,074.00.39
WILLIAMS COS INCWMB969457100COMMON STOCK191,200.00005,554,360.00.90
WINNEBAGO INDUSTRIESWGO974637100COMMON STOCK35,229.00001,928,787.75.31
WORLD FUEL SERVICES CORPINT981475106COMMON STOCK20,015.0000561,821.05.09
XCEL ENERGY INCXEL98389B100COMMON STOCK47,500.00002,451,475.00.40
XYLEM INCXYL98419M100COMMON STOCK36,400.00002,523,976.00.41
ZAGG INCZAGG98884U108COMMON STOCK31,939.0000653,152.55.11
ZIMMER BIOMET HOLDINGS INCZBH98956P102COMMON STOCK64,800.00007,588,080.001.23
ZOGENIX INCZGNX98978L204COMMON STOCK18,133.0000704,467.05.11

As of 11/30/2017.

Distributions

Fund NameFund CusipDistribution TypeAmount per ShareEx DateReinvest DateReinvest Price

Fees and expenses

Type Amount
Management fee 0.90%
Distribution and service (12b-1) fee None
Other expenses 0.23%
Acquired Fund Fees and Expenses (AFFE) 0.02%
Total annual fund operating expense 1.15%
Fee waivers and expense reimbursements (0.13%)
Total annual fund operating expenses less fee waivers and expense reimbursements 1.02%*

*Effective March 20, 2017, 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, 2018. The agreement may be amended or terminated only with the consent of the Board of Trustees.

Individual Investor Contact Information
1-877-771-7979
Monday – Friday 8:30 am – 5:00 pm EST

 

Or write to the Funds at:
Brinker Capital Destinations Funds
P.O. Box 2175
Milwaukee, WI 53201

 

Overnight/Certified Mail:
Brinker Capital Destinations Funds
235 W. Galena Street
Milwaukee, WI 53212
Investment Adviser
Brinker Capital, Inc.
1055 Westlakes Drive, Suite 250
Berwyn, PA 19312
www.brinkercapital.com

 

Distributor
Foreside Fund Services, LLC
Three Canal Plaza, Suite 100
Portland, ME 04101
www.foreside.com

 

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.

Copyright © 2017 Brinker Capital Destinations Trust. All rights reserved.

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