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 and Driehaus Small Cap Growth, which focus on micro and small cap companies with company-specific growth inflection points.
Leeward Investments, LLC is the sub-adviser of the Leeward Small Cap Value Strategy which employs a classic value approach with an emphasis on purchasing high quality companies at a discount to intrinsic value.

I Share Fund performance as of 9/30/2022

Annualized

MTD

QTD

YTD

1 Year

3 Years

5 Years

Since
Inception

Destinations Small-Mid Cap Equity Fund

-8.24%

-0.27%

-25.33%

-19.43%

9.05%

8.20%

8.78%

Russell Mid Cap Index

-9.27%

-3.44%

-24.27%

-19.39%

5.19%

6.48%

6.99%

Russell 2000 Index

-9.58%

-2.19%

-25.10%

-23.50%

4.29%

3.55%

4.72%

Russell Mid Cap Index: A market cap weighted index that includes approximately the smallest 800 companies in the Russell 1000 Index.

Russell 2000 Index: A market cap weighted index that includes the smallest 2,000 companies in the Russell 3000 universe of US-based listed equities.

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 Mid Cap Index, Russell 2000 Index
Inception date: 03/20/2017
Gross expense ratio: 1.11%
Net expense ratio: 1.10%*

Daily NAV

Date:

11/30/2022

NAV:
$12.33
NAV change:
$0.30
Total assets ($m):
$1,076.2

Quick links

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 9/30/2022

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

-8.24%

-0.27%

-25.33%

-19.43%

9.05%

8.20%

8.78%

3/20/2017

1.11%

1.10%

Russell Mid Cap Index

-9.27%

-3.44%

-24.27%

-19.39%

5.19%

6.48%

6.99%

Russell 2000 Index

-9.58%

-2.19%

-25.10%

-23.50%

4.29%

3.55%

4.72%

Russell Mid Cap Index: A market cap weighted index that includes approximately the smallest 800 companies in the Russell 1000 Index.

Holdings

Security Description	Ticker Symbol	Security ID	Security Type Description	Quantity	Base Market Value	Percent TNA
US DOLLARS		CASHUSD	CURRENCY	42,033,261.8600	42,033,261.86	3.56
GOLAR LNG LTD	GLNG	2367963	COMMON STOCK	184,970.0000	4,637,197.90	.39
AXALTA COATING SYSTEMS LTD	AXTA	BSFWCF5	COMMON STOCK	110,748.0000	2,972,476.32	.25
JAMES RIVER GROUP HOLDINGS L	JRVR	BT8RWQ5	COMMON STOCK	48,010.0000	1,153,200.20	.10
RENAISSANCERE HOLDINGS LTD	RNR	G7496G103	COMMON STOCK	1,181.0000	223,102.71	.02
BELLUS HEALTH INC		07987C204	COMMON STOCK	69,060.0000	681,622.20	.06
CAMECO CORP	CCJ	13321L108	COMMON STOCK	12,583.0000	306,773.54	.03
ENERGY FUELS INC	UUUU	292671708	COMMON STOCK	186,966.0000	1,297,544.04	.11
MASONITE INTERNATIONAL CORP	DOOR	575385109	COMMON STOCK	40,273.0000	3,031,348.71	.26
RITCHIE BROS AUCTIONEERS	RBA	767744105	COMMON STOCK	2,482.0000	136,137.70	.01
SUNOPTA INC	STKL	8676EP108	COMMON STOCK	473,514.0000	4,427,355.90	.38
XENON PHARMACEUTICALS INC	XENE	98420N105	COMMON STOCK	218,427.0000	8,055,587.76	.68
FABRINET	FN	B4JSZL8	COMMON STOCK	2,604.0000	347,399.64	.03
AMBARELLA INC	AMBA	G037AX101	COMMON STOCK	1,465.0000	108,703.00	.01
EDAP TMS SA -ADR	EDAP	268311107	COMMON STOCK	149,073.0000	1,687,506.36	.14
WILLIS TOWERS WATSON PLC	WTW	BDB6Q21	COMMON STOCK	43,200.0000	10,634,112.00	.90
TRANE TECHNOLOGIES PLC	TT	BK9ZQ96	COMMON STOCK	25,700.0000	4,585,394.00	.39
PERION NETWORK LTD	PERI	B0XWL09	COMMON STOCK	120,822.0000	3,314,147.46	.28
CYBERARK SOFTWARE LTD/ISRAEL	CYBR	BQT3XY6	COMMON STOCK	2,500.0000	372,675.00	.03
PLAYA HOTELS & RESORTS NV	PLYA	BD089F2	COMMON STOCK	399,221.0000	2,455,209.15	.21
MERUS NV	MRUS	BZBY005	COMMON STOCK	133,134.0000	2,043,606.90	.17
MAXEON SOLAR TECHNOLOGIE	MAXN	BMH1V17	COMMON STOCK	68,282.0000	1,571,851.64	.13
VECTIVBIO HOLDING AG	VECT	BMHR7S4	COMMON STOCK	76,066.0000	637,433.08	.05
GATES INDUSTRIAL CORP PLC	GTES	BD9G2S1	COMMON STOCK	189,946.0000	2,207,172.52	.19
TECHNIPFMC PLC		BDSFG98	COMMON STOCK	16,119.0000	199,875.60	.02
AAON INC	AAON	000360206	COMMON STOCK	924.0000	73,236.24	.01
AMN HEALTHCARE SERVICES INC	AMN	001744101	COMMON STOCK	3,620.0000	447,794.00	.04
A10 NETWORKS INC		002121101	COMMON STOCK	151,127.0000	2,827,586.17	.24
ACUMEN PHARMACEUTICALS INC	ABOS	00509G209	COMMON STOCK	106,580.0000	605,374.40	.05
AEHR TEST SYSTEMS	AEHR	00760J108	COMMON STOCK	89,842.0000	2,342,180.94	.20
AGILYSYS INC	AGYS	00847J105	COMMON STOCK	77,742.0000	5,162,068.80	.44
AIR PRODUCTS & CHEMICALS INC	APD	009158106	COMMON STOCK	18,800.0000	5,831,008.00	.49
AIRSCULPT TECHNOLOGIES INC		009496100	COMMON STOCK	118,515.0000	424,283.70	.04
ALKAMI TECHNOLOGY INC		01644J108	COMMON STOCK	56,361.0000	708,457.77	.06
ATI INC	ATI	01741R102	COMMON STOCK	136,038.0000	4,150,519.38	.35
ALLEGRO MICROSYSTEMS INC	ALGM	01749D105	COMMON STOCK	5,199.0000	161,896.86	.01
ALLSTATE CORP	ALL	020002101	COMMON STOCK	63,800.0000	8,542,820.00	.72
ALPHATEC HOLDINGS INC		02081G201	COMMON STOCK	250,004.0000	2,565,041.04	.22
ALTRA INDUSTRIAL MOTION CORP	AIMC	02208R106	COMMON STOCK	87,814.0000	5,147,656.68	.44
ALTUS POWER INC	AMPS	02217A102	COMMON STOCK	158,364.0000	1,132,302.60	.10
AMEDISYS INC	AMED	023436108	COMMON STOCK	34,061.0000	3,102,616.49	.26
AMEREN CORPORATION	AEE	023608102	COMMON STOCK	118,000.0000	10,539,760.00	.89
AMERESCO INC-CL A	AMRC	02361E108	COMMON STOCK	2,927.0000	191,777.04	.02
AMERICAN EAGLE OUTFITTERS	AEO	02553E106	COMMON STOCK	175,716.0000	2,779,827.12	.24
AMERICAN HOMES 4 RENT- A	AMH	02665T306	REIT - Real Estate Invesment Trust	432,800.0000	14,312,696.00	1.21
APELLIS PHARMACEUTICALS INC	APLS	03753U106	COMMON STOCK	15,590.0000	778,408.70	.07
APPLIED INDUSTRIAL TECH INC	AIT	03820C105	COMMON STOCK	2,473.0000	327,647.77	.03
ARCOSA INC	ACA	039653100	COMMON STOCK	48,847.0000	2,984,551.70	.25
ARRAY TECHNOLOGIES INC	ARRY	04271T100	COMMON STOCK	6,139.0000	128,550.66	.01
ASPEN AEROGELS INC	ASPN	04523Y105	COMMON STOCK	98,518.0000	1,188,127.08	.10
ASTRIA THERAPEUTICS INC		04635X102	COMMON STOCK	91,916.0000	923,755.80	.08
AVIAT NETWORKS INC	AVNW	05366Y201	COMMON STOCK	59,429.0000	1,869,636.34	.16
AXCELIS TECHNOLOGIES INC	ACLS	054540208	COMMON STOCK	81,925.0000	6,542,530.50	.55
AXON ENTERPRISE INC	AXON	05464C101	COMMON STOCK	2,118.0000	389,775.54	.03
AXSOME THERAPEUTICS INC	AXSM	05464T104	COMMON STOCK	2,595.0000	187,592.55	.02
AXONICS INC	AXNX	05465P101	COMMON STOCK	4,967.0000	340,140.16	.03
AZEK CO INC/THE	AZEK	05478C105	COMMON STOCK	113,285.0000	2,190,931.90	.19
BRP GROUP INC-A	BRP	05589G102	COMMON STOCK	85,788.0000	2,577,071.52	.22
BWX TECHNOLOGIES INC	BWXT	05605H100	COMMON STOCK	67,725.0000	4,123,775.25	.35
BADGER METER INC	BMI	056525108	COMMON STOCK	2,345.0000	271,597.90	.02
BAKER HUGHES CO	BKR	05722G100	COMMON STOCK	256,100.0000	7,432,022.00	.63
BANKUNITED INC	BKU	06652K103	COMMON STOCK	164,160.0000	6,027,955.20	.51
BELDEN INC	BDC	077454106	COMMON STOCK	49,433.0000	3,976,390.52	.34
BELLRING BRANDS INC	BRBR	07831C103	COMMON STOCK	5,166.0000	128,685.06	.01
BEST BUY CO INC	BBY	086516101	COMMON STOCK	38,000.0000	3,241,400.00	.27
BIOMEA FUSION INC	BMEA	09077A106	COMMON STOCK	73,252.0000	526,681.88	.04
BLACK HILLS CORP	BKH	092113109	COMMON STOCK	46,766.0000	3,349,848.58	.28
AZENTA INC	AZTA	114340102	COMMON STOCK	208,700.0000	12,565,827.00	1.06
C4 THERAPEUTICS INC	CCCC	12529R107	COMMON STOCK	95,550.0000	818,863.50	.07
CMS ENERGY CORP	CMS	125896100	COMMON STOCK	165,500.0000	10,107,085.00	.86
CSX CORP	CSX	126408103	COMMON STOCK	182,900.0000	5,979,001.00	.51
CTS CORP	CTS	126501105	COMMON STOCK	23,644.0000	1,004,870.00	.09
CABOT CORP	CBT	127055101	COMMON STOCK	32,251.0000	2,374,318.62	.20
CACI INTERNATIONAL INC -CL A	CACI	127190304	COMMON STOCK	16,239.0000	5,071,439.70	.43
CACTUS INC - A	WHD	127203107	COMMON STOCK	78,519.0000	4,270,648.41	.36
CALERES INC		129500104	COMMON STOCK	79,322.0000	1,916,419.52	.16
CALIX INC	CALX	13100M509	COMMON STOCK	91,568.0000	6,528,798.40	.55
TOPGOLF CALLAWAY BRANDS CORP	MODG	131193104	COMMON STOCK	151,953.0000	3,183,415.35	.27
CAPITAL ONE FINANCIAL CORP	COF	14040H105	COMMON STOCK	67,000.0000	6,917,080.00	.59
CARLISLE COS INC	CSL	142339100	COMMON STOCK	18,400.0000	4,841,224.00	.41
CARTER'S INC	CRI	146229109	COMMON STOCK	17,063.0000	1,246,281.52	.11
CELSIUS HOLDINGS INC	CELH	15118V207	COMMON STOCK	23,335.0000	2,598,118.90	.22
CENTERPOINT ENERGY INC	CNP	15189T107	COMMON STOCK	331,600.0000	10,316,076.00	.87
CHAMPIONX CORP	CHX-W	15872M104	COMMON STOCK	139,737.0000	4,309,489.08	.37
CHART INDUSTRIES INC	GTLS	16115Q308	COMMON STOCK	3,143.0000	449,417.57	.04
CHEFS' WAREHOUSE INC/THE	CHEF	163086101	COMMON STOCK	60,051.0000	2,332,981.35	.20
CHESAPEAKE ENERGY CORP	CHK	165167735	COMMON STOCK	63,800.0000	6,603,300.00	.56
CHIMERA INVESTMENT CORP		16934Q208	REIT - Real Estate Invesment Trust	476,047.0000	3,260,921.95	.28
ADURO BIOTECH INC	KDNY	16961L106	COMMON STOCK	136,618.0000	3,094,397.70	.26
CINCOR PHARMA INC		17240Y109	COMMON STOCK	59,014.0000	696,365.20	.06
CIRCOR INTERNATIONAL INC	CIR	17273K109	COMMON STOCK	90,411.0000	2,490,823.05	.21
CITY HOLDING CO	CHCO	177835105	COMMON STOCK	16,438.0000	1,675,360.96	.14
CIVITAS RESOURCES INC		17888H103	COMMON STOCK	2,473.0000	166,581.28	.01
CLEAN HARBORS INC	CLH	184496107	COMMON STOCK	47,799.0000	5,735,880.00	.49
CLEAR SECURE INC -CLASS A		18467V109	COMMON STOCK	10,223.0000	317,730.84	.03
CLEARFIELD INC	CLFD	18482P103	COMMON STOCK	54,313.0000	7,148,677.06	.61
COMFORT SYSTEMS USA INC	FIX	199908104	COMMON STOCK	2,749.0000	348,463.24	.03
COOPER COS INC/THE	COO	216648402	COMMON STOCK	27,300.0000	8,636,355.00	.73
CORE & MAIN INC-CLASS A		21874C102	COMMON STOCK	8,566.0000	178,172.80	.02
CORPORATE OFFICE PROPERTIES	OFC	22002T108	REIT - Real Estate Invesment Trust	127,974.0000	3,553,837.98	.30
CRINETICS PHARMACEUTICALS IN	CRNX	22663K107	COMMON STOCK	275,758.0000	4,927,795.46	.42
CROCS INC	CROX	227046109	COMMON STOCK	945.0000	95,445.00	.01
CROSS COUNTRY HEALTHCARE INC	CCRN	227483104	COMMON STOCK	174,584.0000	6,246,615.52	.53
CUTERA INC	CUTR	232109108	COMMON STOCK	48,065.0000	2,286,932.70	.19
CYTOKINETICS INC		23282W605	COMMON STOCK	51,772.0000	2,200,310.00	.19
DICE THERAPEUTICS INC		23345J104	COMMON STOCK	122,758.0000	4,273,205.98	.36
DAVE & BUSTER'S ENTERTAINMEN	PLAY	238337109	COMMON STOCK	43,806.0000	1,737,345.96	.15
DAY ONE BIOPHARMACEUTICALS I	DAWN	23954D109	COMMON STOCK	91,019.0000	1,932,333.37	.16
DENBURY INC	DEN	24790A101	COMMON STOCK	1,727.0000	155,015.52	.01
DESIGNER BRANDS INC-CLASS A	DBI	250565108	COMMON STOCK	66,463.0000	1,016,883.90	.09
DIGI INTERNATIONAL INC	DGII	253798102	COMMON STOCK	122,074.0000	5,184,482.78	.44
DORMAN PRODUCTS INC	DORM	258278100	COMMON STOCK	26,332.0000	2,360,400.48	.20
DRIVEN BRANDS HOLDINGS INC	DRVN	26210V102	COMMON STOCK	9,288.0000	282,448.08	.02
DUCKHORN PORTFOLIO INC/THE		26414D106	COMMON STOCK	214,423.0000	3,443,633.38	.29
DYCOM INDUSTRIES INC	DY	267475101	COMMON STOCK	36,332.0000	3,311,298.48	.28
DYNAVAX TECHNOLOGIES CORP		268158201	COMMON STOCK	197,985.0000	2,456,993.85	.21
ELF BEAUTY INC	ELF	26856L103	COMMON STOCK	125,326.0000	6,887,916.96	.58
EQRX INC WT EX 04/09/2028		26886C115	WARRANTS	32,416.0000	19,125.44	.00
EASTMAN CHEMICAL CO	EMN	277432100	COMMON STOCK	69,200.0000	5,994,104.00	.51
EMCOR GROUP INC	EME	29084Q100	COMMON STOCK	29,316.0000	4,541,048.40	.38
ENCOMPASS HEALTH CORP	EHC	29261A100	COMMON STOCK	99,018.0000	5,790,572.64	.49
ENERGY RECOVERY INC	ERII	29270J100	COMMON STOCK	104,779.0000	2,428,777.22	.21
ENERPAC TOOL GROUP CORP	EPAC	292765104	COMMON STOCK	82,627.0000	2,068,980.08	.18
ENGAGESMART INC		29283F103	COMMON STOCK	11,796.0000	200,178.12	.02
ENPRO INDUSTRIES INC	NPO	29355X107	COMMON STOCK	38,167.0000	4,534,239.60	.38
ENTERGY CORP	ETR	29364G103	COMMON STOCK	87,700.0000	10,196,879.00	.86
ENVISTA HOLDINGS CORP	NVST	29415F104	COMMON STOCK	100,915.0000	3,443,219.80	.29
EUROPEAN WAX CENTER INC-A		29882P106	COMMON STOCK	69,956.0000	1,014,362.00	.09
EVERI HOLDINGS INC	EVRI	30034T103	COMMON STOCK	175,845.0000	2,940,128.40	.25
EVOQUA WATER TECHNOLOGIES CO	AQUA	30057T105	COMMON STOCK	6,819.0000	296,558.31	.03
EXCELERATE ENERGY INC-A	EE	30069T101	COMMON STOCK	5,574.0000	158,078.64	.01
EXLSERVICE HOLDINGS INC	EXLS	302081104	COMMON STOCK	26,566.0000	4,973,155.20	.42
EXPONENT INC	EXPO	30214U102	COMMON STOCK	14.0000	1,447.74	.00
EXTRA SPACE STORAGE INC	EXR	30225T102	REIT - Real Estate Invesment Trust	61,500.0000	9,882,435.00	.84
EXTREME NETWORKS INC	EXTR	30226D106	COMMON STOCK	260,368.0000	5,459,916.96	.46
FLYWIRE CORP-VOTING	FLYW	302492103	COMMON STOCK	73,506.0000	1,594,345.14	.14
FTI CONSULTING INC	FCN	302941109	COMMON STOCK	1,398.0000	241,602.36	.02
FEDERAL SIGNAL CORP	FSS	313855108	COMMON STOCK	79,331.0000	3,854,693.29	.33
FIRST INTERSTATE BANCSYS-A	FIBK	32055Y201	COMMON STOCK	180,800.0000	7,886,496.00	.67
FLUOR CORP	FLR	343412102	COMMON STOCK	8,415.0000	282,828.15	.02
FORTIVE CORP	FTV	34959J108	COMMON STOCK	87,500.0000	5,910,625.00	.50
FORWARD AIR CORP	FWRD	349853101	COMMON STOCK	31,011.0000	3,484,706.07	.30
FULL HOUSE RESORTS INC	FLL	359678109	COMMON STOCK	124,714.0000	954,062.10	.08
GENERAL DYNAMICS CORP	GD	369550108	COMMON STOCK	23,100.0000	5,830,209.00	.49
GENTEX CORP	GNTX	371901109	COMMON STOCK	280,900.0000	8,118,010.00	.69
GENTHERM INC	THRM	37253A103	COMMON STOCK	28,701.0000	2,054,704.59	.17
GLOBAL PAYMENTS INC	GPN	37940X102	COMMON STOCK	130,300.0000	13,522,534.00	1.15
GOODYEAR TIRE & RUBBER CO	GT	382550101	COMMON STOCK	175,943.0000	1,974,080.46	.17
GREEN PLAINS INC	GPRE	393222104	COMMON STOCK	58,409.0000	2,018,615.04	.17
GRID DYNAMICS HOLDINGS INC	GDYN	39813G109	COMMON STOCK	89,649.0000	1,142,128.26	.10
H&E EQUIPMENT SERVICES INC	HEES	404030108	COMMON STOCK	17,342.0000	727,150.06	.06
HAIN CELESTIAL GROUP INC	HAIN	405217100	COMMON STOCK	114,108.0000	2,138,383.92	.18
HALOZYME THERAPEUTICS INC	HALO	40637H109	COMMON STOCK	9,981.0000	571,512.06	.05
HANCOCK WHITNEY CORP	HWC	410120109	COMMON STOCK	3,403.0000	186,620.52	.02
HARMONIC INC	HLIT	413160102	COMMON STOCK	743,324.0000	11,402,590.16	.97
HARSCO CORP	HSC	415864107	COMMON STOCK	129,220.0000	966,565.60	.08
HARTFORD FINANCIAL SVCS GRP	HIG	416515104	COMMON STOCK	137,400.0000	10,493,238.00	.89
HEALTHCARE REALTY TRUST INC		42226K105	REIT - Real Estate Invesment Trust	571,900.0000	11,741,107.00	.99
HELMERICH & PAYNE	HP	423452101	COMMON STOCK	54,810.0000	2,799,694.80	.24
HERC HOLDINGS INC	HRI	42704L104	COMMON STOCK	30,600.0000	3,922,002.00	.33
HERITAGE FINANCIAL CORP	HFWA	42722X106	COMMON STOCK	32,387.0000	1,065,532.30	.09
HESS CORP	HES	42809H107	COMMON STOCK	59,200.0000	8,519,472.00	.72
HEXCEL CORP	HXL	428291108	COMMON STOCK	46,153.0000	2,766,872.35	.23
HILLENBRAND INC	HI	431571108	COMMON STOCK	32,024.0000	1,601,200.00	.14
HOSTESS BRANDS INC	TWNK	44109J106	COMMON STOCK	143,159.0000	3,779,397.60	.32
HOWMET AEROSPACE INC	HWM	443201108	COMMON STOCK	186,400.0000	7,021,688.00	.59
HURON CONSULTING GROUP INC	HURN	447462102	COMMON STOCK	142,701.0000	11,110,699.86	.94
ICF INTERNATIONAL INC	ICFI	44925C103	COMMON STOCK	12,508.0000	1,355,491.96	.11
ITT INC	ITT	45073V108	COMMON STOCK	53,869.0000	4,553,007.88	.39
IDACORP INC	IDA	451107106	COMMON STOCK	37,639.0000	4,160,238.67	.35
IMPINJ INC	PI	453204109	COMMON STOCK	68,828.0000	8,779,011.40	.74
INARI MEDICAL INC	NARI	45332Y109	COMMON STOCK	2,268.0000	166,879.44	.01
INDEPENDENT BANK CORP/MA	INDB	453836108	COMMON STOCK	55,031.0000	4,981,406.12	.42
INGEVITY CORP	NGVT	45688C107	COMMON STOCK	46,929.0000	3,673,132.83	.31
INGREDION INCORPORATED	INGR	457187102	COMMON STOCK	56,729.0000	5,557,740.13	.47
INNOSPEC INC	IOSP	45768S105	COMMON STOCK	23,860.0000	2,645,835.40	.22
INSPIRE MEDICAL SYSTEMS INC	INSP	457730109	COMMON STOCK	14,554.0000	3,515,809.78	.30
INTEGRA LIFESCIENCES HOLDING	IART	457985208	COMMON STOCK	87,538.0000	4,809,337.72	.41
INTERNATIONAL MONEY EXPRESS	IMXI	46005L101	COMMON STOCK	125,298.0000	2,721,472.56	.23
IRIDIUM COMMUNICATIONS INC	IRDM	46269C102	COMMON STOCK	5,292.0000	281,005.20	.02
ISHARES RUSSELL MID-CAP ETF	IWR	464287499	POOLED INVESTMENTS	44,294.0000	3,173,665.10	.27
ISHARES RUSSELL 2000 VALUE E	IWN	464287630	POOLED INVESTMENTS	70,021.0000	10,463,938.24	.89
ISHARES RUSSELL 2000 ETF	IWM	464287655	POOLED INVESTMENTS	256,810.0000	48,118,489.70	4.08
I3 VERTICALS INC-CLASS A	IIIV	46571Y107	COMMON STOCK	67,008.0000	1,761,640.32	.15
IVERIC BIO INC	ISEE	46583P102	COMMON STOCK	72,768.0000	1,718,780.16	.15
KBR INC	KBR	48242W106	COMMON STOCK	3,404.0000	175,884.68	.01
KALVISTA PHARMACEUTICALS INC	KALV	483497103	COMMON STOCK	108,860.0000	586,755.40	.05
KARAT PACKAGING INC	KRT	48563L101	COMMON STOCK	111,268.0000	1,537,723.76	.13
KARUNA THERAPEUTICS INC	KRTX	48576A100	COMMON STOCK	664.0000	156,245.84	.01
KELLY SERVICES INC -A	KELYA	488152208	COMMON STOCK	80,472.0000	1,367,219.28	.12
KINSALE CAPITAL GROUP INC	KNSL	49714P108	COMMON STOCK	2,426.0000	747,717.46	.06
KIRBY CORP	KEX	497266106	COMMON STOCK	1,795.0000	125,273.05	.01
KORN FERRY	KFY	500643200	COMMON STOCK	61,628.0000	3,514,644.84	.30
KURA SUSHI USA INC-CLASS A		501270102	COMMON STOCK	53,041.0000	3,484,793.70	.30
L3HARRIS TECHNOLOGIES INC	LHX	502431109	COMMON STOCK	30,600.0000	6,948,648.00	.59
LANCASTER COLONY CORP	LANC	513847103	COMMON STOCK	9,843.0000	2,038,879.02	.17
LANTHEUS HOLDINGS INC	LNTH	516544103	COMMON STOCK	33,085.0000	2,053,916.80	.17
LINDSAY CORP	LNN	535555106	COMMON STOCK	10,088.0000	1,780,431.12	.15
LIQUIDITY SERVICES INC	LQDT	53635B107	COMMON STOCK	98,572.0000	1,645,166.68	.14
LIVENT CORP	LTHM	53814L108	COMMON STOCK	161,486.0000	4,519,993.14	.38
LUMENTUM HOLDINGS INC	LITE	55024U109	COMMON STOCK	50,777.0000	2,789,688.38	.24
MGIC INVESTMENT CORP	MTG	552848103	COMMON STOCK	191,890.0000	2,634,649.70	.22
MGP INGREDIENTS INC	MGPI	55303J106	COMMON STOCK	73,469.0000	9,188,033.14	.78
MP MATERIALS CORP	MP	553368101	COMMON STOCK	4,322.0000	143,706.50	.01
MYR GROUP INC/DELAWARE	MYRG	55405W104	COMMON STOCK	20,265.0000	1,935,915.45	.16
MACOM TECHNOLOGY SOLUTIONS	MTSI	55405Y100	COMMON STOCK	35,861.0000	2,463,292.09	.21
STEVEN MADDEN LTD	SHOO	556269108	COMMON STOCK	85,923.0000	2,967,780.42	.25
MARTIN MARIETTA MATERIALS	MLM	573284106	COMMON STOCK	26,900.0000	9,858,312.00	.84
MATADOR RESOURCES CO	MTDR	576485205	COMMON STOCK	76,299.0000	5,063,201.64	.43
MCGRATH RENTCORP	MGRC	580589109	COMMON STOCK	26,495.0000	2,599,689.40	.22
METROPOLITAN BANK HOLDING CO	MCB	591774104	COMMON STOCK	12,993.0000	825,575.22	.07
MODINE MANUFACTURING CO	MOD	607828100	COMMON STOCK	40,790.0000	863,524.30	.07
MONTROSE ENVIRONMENTAL GROUP	MEG	615111101	COMMON STOCK	63,677.0000	2,939,330.32	.25
MORPHIC HOLDING INC	MORF	61775R105	COMMON STOCK	22,656.0000	623,493.12	.05
MOTOROLA SOLUTIONS INC	MSI	620076307	COMMON STOCK	39,100.0000	10,643,020.00	.90
MURPHY USA INC	MUSA	626755102	COMMON STOCK	19,123.0000	5,656,774.63	.48
NMI HOLDINGS INC-CLASS A	NMIH	629209305	COMMON STOCK	84,362.0000	1,816,313.86	.15
NV5 GLOBAL INC	NVEE	62945V109	COMMON STOCK	29,814.0000	4,308,421.14	.37
NATIONAL INSTRUMENTS CORP	NATI	636518102	COMMON STOCK	98,444.0000	4,038,172.88	.34
NATIONAL RETAIL PROPERTIES	NNN	637417106	REIT - Real Estate Invesment Trust	196,000.0000	9,086,560.00	.77
NATIONAL STORAGE AFFILIATES	NSA	637870106	REIT - Real Estate Invesment Trust	91,972.0000	3,661,405.32	.31
NEWMARK GROUP INC-CLASS A	NMRK	65158N102	COMMON STOCK	308,242.0000	2,613,892.16	.22
NUVALENT INC-A		670703107	COMMON STOCK	142,038.0000	4,670,209.44	.40
NUVASIVE INC	NUVA	670704105	COMMON STOCK	55,981.0000	2,174,302.04	.18
O-I GLASS INC	OI	67098H104	COMMON STOCK	260,945.0000	4,282,107.45	.36
OLD NATIONAL BANCORP	ONB	680033107	COMMON STOCK	218,139.0000	4,168,636.29	.35
OPTION CARE HEALTH INC	OPCH	68404L201	COMMON STOCK	2,274.0000	68,470.14	.01
OXFORD INDUSTRIES INC	OXM	691497309	COMMON STOCK	16,955.0000	1,913,541.30	.16
PDC ENERGY INC	PDCE	69327R101	COMMON STOCK	76,036.0000	5,650,995.52	.48
PNC FINANCIAL SERVICES GROUP	PNC	693475105	COMMON STOCK	31,800.0000	5,350,668.00	.45
PPG INDUSTRIES INC	PPG	693506107	COMMON STOCK	52,400.0000	7,085,528.00	.60
PPL CORP	PPL	69351T106	COMMON STOCK	350,300.0000	10,340,856.00	.88
PACWEST BANCORP	PACW	695263103	COMMON STOCK	110,152.0000	2,877,170.24	.24
PALOMAR HOLDINGS INC	PLMR	69753M105	COMMON STOCK	34,473.0000	2,162,836.02	.18
PARKER HANNIFIN CORP	PH	701094104	COMMON STOCK	15,400.0000	4,603,676.00	.39
PARSONS CORP	PSN	70202L102	COMMON STOCK	2,926.0000	144,837.00	.01
PATTERSON-UTI ENERGY INC	PTEN	703481101	COMMON STOCK	5,217.0000	93,645.15	.01
PAYLOCITY HOLDING CORP	PCTY	70438V106	COMMON STOCK	1,328.0000	289,278.24	.02
PAYONEER GLOBAL INC	PAYO	70451X104	COMMON STOCK	694,957.0000	3,752,767.80	.32
RANGER OIL CORP-A	ROCC	70788V102	COMMON STOCK	55,757.0000	2,429,332.49	.21
PERFORMANCE FOOD GROUP CO	PFGC	71377A103	COMMON STOCK	70,578.0000	4,303,846.44	.36
PERFORMANT FINANCIAL CORP	PFMT	71377E105	COMMON STOCK	262,160.0000	626,562.40	.05
PHOTRONICS INC	PLAB	719405102	COMMON STOCK	85,968.0000	1,616,198.40	.14
PHREESIA INC	PHR	71944F106	COMMON STOCK	58,425.0000	1,625,383.50	.14
PINNACLE FINANCIAL PARTNERS	PNFP	72346Q104	COMMON STOCK	65,954.0000	5,532,881.06	.47
PLEXUS CORP	PLXS	729132100	COMMON STOCK	18,213.0000	2,007,436.86	.17
PORTILLO'S INC-CL A		73642K106	COMMON STOCK	79,763.0000	1,610,414.97	.14
PORTLAND GENERAL ELECTRIC CO	POR	736508847	COMMON STOCK	129,209.0000	6,360,959.07	.54
PRESTIGE CONSUMER HEALTHCARE	PBH	74112D101	COMMON STOCK	128,884.0000	7,921,210.64	.67
PRIMERICA INC	PRI	74164M108	COMMON STOCK	25,484.0000	3,797,880.52	.32
PROCEPT BIOROBOTICS CORP	PRCT	74276L105	COMMON STOCK	91,787.0000	3,937,662.30	.33
PROFRAC HOLDING CORP-A	ACDC	74319N100	COMMON STOCK	7,670.0000	180,858.60	.02
QUANTA SERVICES INC	PWR	74762E102	COMMON STOCK	32,700.0000	4,901,076.00	.42
RAMBUS INC	RMBS	750917106	COMMON STOCK	2,823.0000	108,346.74	.01
REAL GOOD FOOD CO INC/THE		75601G109	COMMON STOCK	135,621.0000	969,690.15	.08
REGAL REXNORD CORP	RRX	758750103	COMMON STOCK	39,384.0000	5,163,636.24	.44
RELAY THERAPEUTICS INC	RLAY	75943R102	COMMON STOCK	104,932.0000	1,949,636.56	.17
REPUBLIC SERVICES INC	RSG	760759100	COMMON STOCK	37,200.0000	5,181,588.00	.44
REVOLUTION MEDICINES INC	RVMD	76155X100	COMMON STOCK	40,801.0000	962,495.59	.08
REXFORD INDUSTRIAL REALTY IN	REXR	76169C100	REIT - Real Estate Invesment Trust	195,400.0000	10,803,666.00	.92
ROPER TECHNOLOGIES INC	ROP	776696106	COMMON STOCK	19,100.0000	8,382,799.00	.71
RYMAN HOSPITALITY PROPERTIES	RHP	78377T107	REIT - Real Estate Invesment Trust	2,276.0000	208,322.28	.02
SBA COMMUNICATIONS CORP	SBAC	78410G104	REIT - Real Estate Invesment Trust	38,700.0000	11,582,910.00	.98
SPX TECHNOLOGIES INC	SPXC	78473E103	COMMON STOCK	3,797.0000	254,019.30	.02
SAIA INC	SAIA	78709Y105	COMMON STOCK	704.0000	171,487.36	.01
SELECT ENERGY SERVICES INC-A	WTTR	81617J301	COMMON STOCK	195,608.0000	1,602,029.52	.14
SHERWIN-WILLIAMS CO/THE	SHW	824348106	COMMON STOCK	27,400.0000	6,827,532.00	.58
SHOCKWAVE MEDICAL INC	SWAV	82489T104	COMMON STOCK	976.0000	247,513.60	.02
SHOALS TECHNOLOGIES GROUP -A	SHLS	82489W107	COMMON STOCK	12,843.0000	372,061.71	.03
SHYFT GROUP INC/THE	SHYF	825698103	COMMON STOCK	94,319.0000	2,313,645.07	.20
SIGNATURE BANK	SBNY	82669G104	COMMON STOCK	41,300.0000	5,761,350.00	.49
SILGAN HOLDINGS INC	SLGN	827048109	COMMON STOCK	37,476.0000	1,982,480.40	.17
SOVOS BRANDS INC	SOVO	84612U107	COMMON STOCK	241,487.0000	3,474,997.93	.29
SPIRE INC	SR	84857L101	COMMON STOCK	34,007.0000	2,519,918.70	.21
SPRINGWORKS THERAPEUTICS INC	SWTX	85205L107	COMMON STOCK	37,057.0000	896,038.26	.08
STAG INDUSTRIAL INC	STAG	85254J102	REIT - Real Estate Invesment Trust	148,777.0000	4,896,251.07	.41
STANDEX INTERNATIONAL CORP	SXI	854231107	COMMON STOCK	32,544.0000	3,418,747.20	.29
STERLING INFRASTRUCTURE INC	STRL	859241101	COMMON STOCK	4,319.0000	141,447.25	.01
STRIDE INC	LRN	86333M108	COMMON STOCK	76,453.0000	2,707,200.73	.23
SYSCO CORP	SYY	871829107	COMMON STOCK	36,300.0000	3,140,313.00	.27
TARGET CORP	TGT	87612E106	COMMON STOCK	46,400.0000	7,752,048.00	.66
TEGNA INC	TGNA	87901J105	COMMON STOCK	42,690.0000	842,700.60	.07
TELEFLEX INC	TFX	879369106	COMMON STOCK	39,100.0000	9,154,092.00	.78
TETRA TECH INC	TTEK	88162G103	COMMON STOCK	2,073.0000	320,465.07	.03
TEXAS ROADHOUSE INC	TXRH	882681109	COMMON STOCK	2,813.0000	279,387.16	.02
BEAUTY HEALTH CO/THE	SKIN	88331L108	COMMON STOCK	54,824.0000	589,358.00	.05
TITAN INTERNATIONAL INC	TWI	88830M102	COMMON STOCK	159,452.0000	2,284,947.16	.19
TOLL BROTHERS INC	TOL	889478103	COMMON STOCK	169,800.0000	8,135,118.00	.69
TRANSMEDICS GROUP INC	TMDX	89377M109	COMMON STOCK	107,658.0000	6,660,800.46	.56
TREACE MEDICAL CONCEPTS INC	TMCI	89455T109	COMMON STOCK	145,623.0000	3,371,172.45	.29
TREEHOUSE FOODS INC	THS	89469A104	COMMON STOCK	108,851.0000	5,380,504.93	.46
UDEMY INC	UDMY	902685106	COMMON STOCK	176,431.0000	2,503,555.89	.21
UMPQUA HOLDINGS CORP	UMPQ	904214103	COMMON STOCK	321,186.0000	6,510,440.22	.55
UNIVEST FINANCIAL CORP	UVSP	915271100	COMMON STOCK	111,431.0000	3,143,468.51	.27
URANIUM ENERGY CORP	UEC	916896103	COMMON STOCK	463,079.0000	1,796,746.52	.15
URBAN OUTFITTERS INC	URBN	917047102	COMMON STOCK	89,012.0000	2,576,007.28	.22
UTZ BRANDS INC	UTZ	918090101	COMMON STOCK	146,988.0000	2,801,591.28	.24
VALMONT INDUSTRIES	VMI	920253101	COMMON STOCK	15,462.0000	5,236,360.92	.44
VALVOLINE INC	VVV	92047W101	COMMON STOCK	113,382.0000	3,739,338.36	.32
VAXCYTE INC	PCVX	92243G108	COMMON STOCK	95,815.0000	4,413,238.90	.37
VENTYX BIOSCIENCES INC	VTYX	92332V107	COMMON STOCK	118,641.0000	3,439,402.59	.29
VERACYTE INC	VCYT	92337F107	COMMON STOCK	56,559.0000	1,568,946.66	.13
VERTEX ENERGY INC	VTNR	92534K107	COMMON STOCK	128,348.0000	1,064,004.92	.09
VIAVI SOLUTIONS INC	VIAV	925550105	COMMON STOCK	341,761.0000	3,872,152.13	.33
VIRIDIAN THERAPEUTICS INC	VRDN	92790C104	COMMON STOCK	48,776.0000	1,232,569.52	.10
VISTEON CORP	VC	92839U206	COMMON STOCK	3,601.0000	528,626.80	.04
VITA COCO CO INC/THE		92846Q107	COMMON STOCK	108,291.0000	1,282,165.44	.11
VITAL FARMS INC	VITL	92847W103	COMMON STOCK	197,873.0000	2,823,647.71	.24
WABASH NATIONAL CORP	WNC	929566107	COMMON STOCK	113,106.0000	2,835,567.42	.24
WESTERN ALLIANCE BANCORP	WAL	957638109	COMMON STOCK	86,400.0000	5,921,856.00	.50
WILLSCOT MOBILE MINI HOLDING		971378104	COMMON STOCK	13,172.0000	635,022.12	.05
WINGSTOP INC	WING	974155103	COMMON STOCK	2,884.0000	477,330.84	.04
WINTRUST FINANCIAL CORP	WTFC	97650W108	COMMON STOCK	76,058.0000	6,953,982.94	.59
WORLD WRESTLING ENTERTAIN-A	WWE	98156Q108	COMMON STOCK	2,877.0000	229,814.76	.02
XPEL INC	XPEL	98379L100	COMMON STOCK	47,963.0000	3,287,863.65	.28
XCEL ENERGY INC	XEL	98389B100	COMMON STOCK	147,300.0000	10,343,406.00	.88
XPONENTIAL FITNESS INC-A		98422X101	COMMON STOCK	218,961.0000	4,847,796.54	.41
XOMETRY INC-A		98423F109	COMMON STOCK	116,919.0000	4,937,489.37	.42
YETI HOLDINGS INC	YETI	98585X104	COMMON STOCK	34,267.0000	1,538,245.63	.13
ZIMMER BIOMET HOLDINGS INC	ZBH	98956P102	COMMON STOCK	138,900.0000	16,681,890.00	1.41
BIOHAVEN LTD	BHVN-W	BPLZ7S5	COMMON STOCK	81,410.0000	1,287,906.20	.11
ESTABLISHMENT LABS HOLDINGS		BYVR2D4	COMMON STOCK	28,338.0000	1,806,830.88	.15

As of 11/30/2022.

Distributions

Fund Name	Fund Cusip	Distribution Type	Amount per Share	Ex Date	Reinvest Date	Reinvest Price
Destinations Small-Mid Cap Equity Fund	10964R202	Short-Term Capital Gains	1.891249	12/16/2021	12/16/2021	$13.90
Destinations Small-Mid Cap Equity Fund	10964R202	Long-Term Capital Gains	2.110002	12/16/2021	12/16/2021	$13.90
Destinations Small-Mid Cap Equity Fund	10964R202	Dividend	0.004589	12/16/2020	12/16/2020	$14.35
Destinations Small-Mid Cap Equity Fund	10964R202	Short-Term Capital Gains	0.161806	12/16/2020	12/16/2020	$14.35
Destinations Small-Mid Cap Equity Fund	10964R202	Long-Term Capital Gains	0.138242	12/16/2020	12/16/2020	$14.35
Destinations Small-Mid Cap Equity Fund	10964R202	Dividend	0.062427	12/16/2019	12/16/2019	$12.03
Destinations Small-Mid Cap Equity Fund	10964R202	Short-Term Capital Gains	0.070163	12/16/2019	12/16/2019	$12.03
Destinations Small-Mid Cap Equity Fund	10964R202	Long-Term Capital Gains	0.361454	12/16/2019	12/16/2019	$12.03
Destinations Small-Mid Cap Equity Fund	10964R202	Dividend	0.054748	12/17/2018	12/17/2018	$9.92
Destinations Small-Mid Cap Equity Fund	10964R202	Short-Term Capital Gains	0.357012	12/17/2018	12/17/2018	$9.92
Destinations Small-Mid Cap Equity Fund	10964R202	Long-Term Capital Gains	0.167244	12/17/2018	12/17/2018	$9.92
Destinations Small-Mid Cap Equity Fund	10964R202	Dividend	0.043013	12/15/2017	12/15/2017	$11.02
Destinations Small-Mid Cap Equity Fund	10964R202	Short-Term Capital Gains	0.059872	12/15/2017	12/15/2017	$11.02

Fees and expenses

Type	Amount
Management Fees	0.90%
Distribution and Service (12b-1) Fees	None
Other Expenses	0.21%
AFFE	None
Total Annual Fund Operating Expenses	1.11%
Fee waivers and expense reimbursements	-0.01%
Total Annual Fund Operating Expenses Less Fee Waivers and Expense Reimbursements	1.10%*

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 and Driehaus Small Cap Growth, which focus on micro and small cap companies with company-specific growth inflection points.
Leeward Investments, LLC is the sub-adviser of the Leeward Small Cap Value Strategy which employs a classic value approach with an emphasis on purchasing high quality companies at a discount to intrinsic value.

Z Share Fund performance as of 9/30/2022

Annualized

MTD

QTD

YTD

1 Year

3 Years

5 Years

Since
Inception

Destinations Small-Mid Cap Equity Fund

-8.22%

-0.24%

-25.23%

-19.27%

9.23%

N/A

6.64%

Russell Mid Cap Index

-9.27%

-3.44%

-24.27%

-19.39%

5.19%

N/A

5.12%

Russell 2000 Index

-9.58%

-2.19%

-25.10%

-23.50%

4.29%

N/A

1.10%

Russell Mid Cap Index: A market cap weighted index that includes approximately the smallest 800 companies in the Russell 1000 Index.

Russell 2000 Index: A market cap weighted index that includes the smallest 2,000 companies in the Russell 3000 universe of US-based listed equities.

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

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.

Fund facts

Ticker: DSMZX
CUSIP: 10964R855
Benchmark: Russell Mid Cap Index, Russell 2000 Index
Inception date: 07/16/2018
Gross expense ratio: 0.96%
Net expense ratio: 0.95%*

Daily NAV

Date:

11/30/2022

NAV:
$9.21
NAV change:
$0.22
Total assets ($m):
$104.1

Quick links

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 9/30/2022

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

-8.22%

-0.24%

-25.23%

-19.27%

9.23%

N/A

6.64%

7/16/2018

0.96%

0.95%

Russell Mid Cap Index

-9.27%

-3.44%

-24.27%

-19.39%

5.19%

N/A

5.12%

Russell 2000 Index

-9.58%

-2.19%

-25.10%

-23.50%

4.29%

N/A

1.10%

Russell Mid Cap Index: A market cap weighted index that includes approximately the smallest 800 companies in the Russell 1000 Index.

Holdings

Security Description	Ticker Symbol	Security ID	Security Type Description	Quantity	Base Market Value	Percent TNA
US DOLLARS		CASHUSD	CURRENCY	42,033,261.8600	42,033,261.86	3.56
GOLAR LNG LTD	GLNG	2367963	COMMON STOCK	184,970.0000	4,637,197.90	.39
AXALTA COATING SYSTEMS LTD	AXTA	BSFWCF5	COMMON STOCK	110,748.0000	2,972,476.32	.25
JAMES RIVER GROUP HOLDINGS L	JRVR	BT8RWQ5	COMMON STOCK	48,010.0000	1,153,200.20	.10
RENAISSANCERE HOLDINGS LTD	RNR	G7496G103	COMMON STOCK	1,181.0000	223,102.71	.02
BELLUS HEALTH INC		07987C204	COMMON STOCK	69,060.0000	681,622.20	.06
CAMECO CORP	CCJ	13321L108	COMMON STOCK	12,583.0000	306,773.54	.03
ENERGY FUELS INC	UUUU	292671708	COMMON STOCK	186,966.0000	1,297,544.04	.11
MASONITE INTERNATIONAL CORP	DOOR	575385109	COMMON STOCK	40,273.0000	3,031,348.71	.26
RITCHIE BROS AUCTIONEERS	RBA	767744105	COMMON STOCK	2,482.0000	136,137.70	.01
SUNOPTA INC	STKL	8676EP108	COMMON STOCK	473,514.0000	4,427,355.90	.38
XENON PHARMACEUTICALS INC	XENE	98420N105	COMMON STOCK	218,427.0000	8,055,587.76	.68
FABRINET	FN	B4JSZL8	COMMON STOCK	2,604.0000	347,399.64	.03
AMBARELLA INC	AMBA	G037AX101	COMMON STOCK	1,465.0000	108,703.00	.01
EDAP TMS SA -ADR	EDAP	268311107	COMMON STOCK	149,073.0000	1,687,506.36	.14
WILLIS TOWERS WATSON PLC	WTW	BDB6Q21	COMMON STOCK	43,200.0000	10,634,112.00	.90
TRANE TECHNOLOGIES PLC	TT	BK9ZQ96	COMMON STOCK	25,700.0000	4,585,394.00	.39
PERION NETWORK LTD	PERI	B0XWL09	COMMON STOCK	120,822.0000	3,314,147.46	.28
CYBERARK SOFTWARE LTD/ISRAEL	CYBR	BQT3XY6	COMMON STOCK	2,500.0000	372,675.00	.03
PLAYA HOTELS & RESORTS NV	PLYA	BD089F2	COMMON STOCK	399,221.0000	2,455,209.15	.21
MERUS NV	MRUS	BZBY005	COMMON STOCK	133,134.0000	2,043,606.90	.17
MAXEON SOLAR TECHNOLOGIE	MAXN	BMH1V17	COMMON STOCK	68,282.0000	1,571,851.64	.13
VECTIVBIO HOLDING AG	VECT	BMHR7S4	COMMON STOCK	76,066.0000	637,433.08	.05
GATES INDUSTRIAL CORP PLC	GTES	BD9G2S1	COMMON STOCK	189,946.0000	2,207,172.52	.19
TECHNIPFMC PLC		BDSFG98	COMMON STOCK	16,119.0000	199,875.60	.02
AAON INC	AAON	000360206	COMMON STOCK	924.0000	73,236.24	.01
AMN HEALTHCARE SERVICES INC	AMN	001744101	COMMON STOCK	3,620.0000	447,794.00	.04
A10 NETWORKS INC		002121101	COMMON STOCK	151,127.0000	2,827,586.17	.24
ACUMEN PHARMACEUTICALS INC	ABOS	00509G209	COMMON STOCK	106,580.0000	605,374.40	.05
AEHR TEST SYSTEMS	AEHR	00760J108	COMMON STOCK	89,842.0000	2,342,180.94	.20
AGILYSYS INC	AGYS	00847J105	COMMON STOCK	77,742.0000	5,162,068.80	.44
AIR PRODUCTS & CHEMICALS INC	APD	009158106	COMMON STOCK	18,800.0000	5,831,008.00	.49
AIRSCULPT TECHNOLOGIES INC		009496100	COMMON STOCK	118,515.0000	424,283.70	.04
ALKAMI TECHNOLOGY INC		01644J108	COMMON STOCK	56,361.0000	708,457.77	.06
ATI INC	ATI	01741R102	COMMON STOCK	136,038.0000	4,150,519.38	.35
ALLEGRO MICROSYSTEMS INC	ALGM	01749D105	COMMON STOCK	5,199.0000	161,896.86	.01
ALLSTATE CORP	ALL	020002101	COMMON STOCK	63,800.0000	8,542,820.00	.72
ALPHATEC HOLDINGS INC		02081G201	COMMON STOCK	250,004.0000	2,565,041.04	.22
ALTRA INDUSTRIAL MOTION CORP	AIMC	02208R106	COMMON STOCK	87,814.0000	5,147,656.68	.44
ALTUS POWER INC	AMPS	02217A102	COMMON STOCK	158,364.0000	1,132,302.60	.10
AMEDISYS INC	AMED	023436108	COMMON STOCK	34,061.0000	3,102,616.49	.26
AMEREN CORPORATION	AEE	023608102	COMMON STOCK	118,000.0000	10,539,760.00	.89
AMERESCO INC-CL A	AMRC	02361E108	COMMON STOCK	2,927.0000	191,777.04	.02
AMERICAN EAGLE OUTFITTERS	AEO	02553E106	COMMON STOCK	175,716.0000	2,779,827.12	.24
AMERICAN HOMES 4 RENT- A	AMH	02665T306	REIT - Real Estate Invesment Trust	432,800.0000	14,312,696.00	1.21
APELLIS PHARMACEUTICALS INC	APLS	03753U106	COMMON STOCK	15,590.0000	778,408.70	.07
APPLIED INDUSTRIAL TECH INC	AIT	03820C105	COMMON STOCK	2,473.0000	327,647.77	.03
ARCOSA INC	ACA	039653100	COMMON STOCK	48,847.0000	2,984,551.70	.25
ARRAY TECHNOLOGIES INC	ARRY	04271T100	COMMON STOCK	6,139.0000	128,550.66	.01
ASPEN AEROGELS INC	ASPN	04523Y105	COMMON STOCK	98,518.0000	1,188,127.08	.10
ASTRIA THERAPEUTICS INC		04635X102	COMMON STOCK	91,916.0000	923,755.80	.08
AVIAT NETWORKS INC	AVNW	05366Y201	COMMON STOCK	59,429.0000	1,869,636.34	.16
AXCELIS TECHNOLOGIES INC	ACLS	054540208	COMMON STOCK	81,925.0000	6,542,530.50	.55
AXON ENTERPRISE INC	AXON	05464C101	COMMON STOCK	2,118.0000	389,775.54	.03
AXSOME THERAPEUTICS INC	AXSM	05464T104	COMMON STOCK	2,595.0000	187,592.55	.02
AXONICS INC	AXNX	05465P101	COMMON STOCK	4,967.0000	340,140.16	.03
AZEK CO INC/THE	AZEK	05478C105	COMMON STOCK	113,285.0000	2,190,931.90	.19
BRP GROUP INC-A	BRP	05589G102	COMMON STOCK	85,788.0000	2,577,071.52	.22
BWX TECHNOLOGIES INC	BWXT	05605H100	COMMON STOCK	67,725.0000	4,123,775.25	.35
BADGER METER INC	BMI	056525108	COMMON STOCK	2,345.0000	271,597.90	.02
BAKER HUGHES CO	BKR	05722G100	COMMON STOCK	256,100.0000	7,432,022.00	.63
BANKUNITED INC	BKU	06652K103	COMMON STOCK	164,160.0000	6,027,955.20	.51
BELDEN INC	BDC	077454106	COMMON STOCK	49,433.0000	3,976,390.52	.34
BELLRING BRANDS INC	BRBR	07831C103	COMMON STOCK	5,166.0000	128,685.06	.01
BEST BUY CO INC	BBY	086516101	COMMON STOCK	38,000.0000	3,241,400.00	.27
BIOMEA FUSION INC	BMEA	09077A106	COMMON STOCK	73,252.0000	526,681.88	.04
BLACK HILLS CORP	BKH	092113109	COMMON STOCK	46,766.0000	3,349,848.58	.28
AZENTA INC	AZTA	114340102	COMMON STOCK	208,700.0000	12,565,827.00	1.06
C4 THERAPEUTICS INC	CCCC	12529R107	COMMON STOCK	95,550.0000	818,863.50	.07
CMS ENERGY CORP	CMS	125896100	COMMON STOCK	165,500.0000	10,107,085.00	.86
CSX CORP	CSX	126408103	COMMON STOCK	182,900.0000	5,979,001.00	.51
CTS CORP	CTS	126501105	COMMON STOCK	23,644.0000	1,004,870.00	.09
CABOT CORP	CBT	127055101	COMMON STOCK	32,251.0000	2,374,318.62	.20
CACI INTERNATIONAL INC -CL A	CACI	127190304	COMMON STOCK	16,239.0000	5,071,439.70	.43
CACTUS INC - A	WHD	127203107	COMMON STOCK	78,519.0000	4,270,648.41	.36
CALERES INC		129500104	COMMON STOCK	79,322.0000	1,916,419.52	.16
CALIX INC	CALX	13100M509	COMMON STOCK	91,568.0000	6,528,798.40	.55
TOPGOLF CALLAWAY BRANDS CORP	MODG	131193104	COMMON STOCK	151,953.0000	3,183,415.35	.27
CAPITAL ONE FINANCIAL CORP	COF	14040H105	COMMON STOCK	67,000.0000	6,917,080.00	.59
CARLISLE COS INC	CSL	142339100	COMMON STOCK	18,400.0000	4,841,224.00	.41
CARTER'S INC	CRI	146229109	COMMON STOCK	17,063.0000	1,246,281.52	.11
CELSIUS HOLDINGS INC	CELH	15118V207	COMMON STOCK	23,335.0000	2,598,118.90	.22
CENTERPOINT ENERGY INC	CNP	15189T107	COMMON STOCK	331,600.0000	10,316,076.00	.87
CHAMPIONX CORP	CHX-W	15872M104	COMMON STOCK	139,737.0000	4,309,489.08	.37
CHART INDUSTRIES INC	GTLS	16115Q308	COMMON STOCK	3,143.0000	449,417.57	.04
CHEFS' WAREHOUSE INC/THE	CHEF	163086101	COMMON STOCK	60,051.0000	2,332,981.35	.20
CHESAPEAKE ENERGY CORP	CHK	165167735	COMMON STOCK	63,800.0000	6,603,300.00	.56
CHIMERA INVESTMENT CORP		16934Q208	REIT - Real Estate Invesment Trust	476,047.0000	3,260,921.95	.28
ADURO BIOTECH INC	KDNY	16961L106	COMMON STOCK	136,618.0000	3,094,397.70	.26
CINCOR PHARMA INC		17240Y109	COMMON STOCK	59,014.0000	696,365.20	.06
CIRCOR INTERNATIONAL INC	CIR	17273K109	COMMON STOCK	90,411.0000	2,490,823.05	.21
CITY HOLDING CO	CHCO	177835105	COMMON STOCK	16,438.0000	1,675,360.96	.14
CIVITAS RESOURCES INC		17888H103	COMMON STOCK	2,473.0000	166,581.28	.01
CLEAN HARBORS INC	CLH	184496107	COMMON STOCK	47,799.0000	5,735,880.00	.49
CLEAR SECURE INC -CLASS A		18467V109	COMMON STOCK	10,223.0000	317,730.84	.03
CLEARFIELD INC	CLFD	18482P103	COMMON STOCK	54,313.0000	7,148,677.06	.61
COMFORT SYSTEMS USA INC	FIX	199908104	COMMON STOCK	2,749.0000	348,463.24	.03
COOPER COS INC/THE	COO	216648402	COMMON STOCK	27,300.0000	8,636,355.00	.73
CORE & MAIN INC-CLASS A		21874C102	COMMON STOCK	8,566.0000	178,172.80	.02
CORPORATE OFFICE PROPERTIES	OFC	22002T108	REIT - Real Estate Invesment Trust	127,974.0000	3,553,837.98	.30
CRINETICS PHARMACEUTICALS IN	CRNX	22663K107	COMMON STOCK	275,758.0000	4,927,795.46	.42
CROCS INC	CROX	227046109	COMMON STOCK	945.0000	95,445.00	.01
CROSS COUNTRY HEALTHCARE INC	CCRN	227483104	COMMON STOCK	174,584.0000	6,246,615.52	.53
CUTERA INC	CUTR	232109108	COMMON STOCK	48,065.0000	2,286,932.70	.19
CYTOKINETICS INC		23282W605	COMMON STOCK	51,772.0000	2,200,310.00	.19
DICE THERAPEUTICS INC		23345J104	COMMON STOCK	122,758.0000	4,273,205.98	.36
DAVE & BUSTER'S ENTERTAINMEN	PLAY	238337109	COMMON STOCK	43,806.0000	1,737,345.96	.15
DAY ONE BIOPHARMACEUTICALS I	DAWN	23954D109	COMMON STOCK	91,019.0000	1,932,333.37	.16
DENBURY INC	DEN	24790A101	COMMON STOCK	1,727.0000	155,015.52	.01
DESIGNER BRANDS INC-CLASS A	DBI	250565108	COMMON STOCK	66,463.0000	1,016,883.90	.09
DIGI INTERNATIONAL INC	DGII	253798102	COMMON STOCK	122,074.0000	5,184,482.78	.44
DORMAN PRODUCTS INC	DORM	258278100	COMMON STOCK	26,332.0000	2,360,400.48	.20
DRIVEN BRANDS HOLDINGS INC	DRVN	26210V102	COMMON STOCK	9,288.0000	282,448.08	.02
DUCKHORN PORTFOLIO INC/THE		26414D106	COMMON STOCK	214,423.0000	3,443,633.38	.29
DYCOM INDUSTRIES INC	DY	267475101	COMMON STOCK	36,332.0000	3,311,298.48	.28
DYNAVAX TECHNOLOGIES CORP		268158201	COMMON STOCK	197,985.0000	2,456,993.85	.21
ELF BEAUTY INC	ELF	26856L103	COMMON STOCK	125,326.0000	6,887,916.96	.58
EQRX INC WT EX 04/09/2028		26886C115	WARRANTS	32,416.0000	19,125.44	.00
EASTMAN CHEMICAL CO	EMN	277432100	COMMON STOCK	69,200.0000	5,994,104.00	.51
EMCOR GROUP INC	EME	29084Q100	COMMON STOCK	29,316.0000	4,541,048.40	.38
ENCOMPASS HEALTH CORP	EHC	29261A100	COMMON STOCK	99,018.0000	5,790,572.64	.49
ENERGY RECOVERY INC	ERII	29270J100	COMMON STOCK	104,779.0000	2,428,777.22	.21
ENERPAC TOOL GROUP CORP	EPAC	292765104	COMMON STOCK	82,627.0000	2,068,980.08	.18
ENGAGESMART INC		29283F103	COMMON STOCK	11,796.0000	200,178.12	.02
ENPRO INDUSTRIES INC	NPO	29355X107	COMMON STOCK	38,167.0000	4,534,239.60	.38
ENTERGY CORP	ETR	29364G103	COMMON STOCK	87,700.0000	10,196,879.00	.86
ENVISTA HOLDINGS CORP	NVST	29415F104	COMMON STOCK	100,915.0000	3,443,219.80	.29
EUROPEAN WAX CENTER INC-A		29882P106	COMMON STOCK	69,956.0000	1,014,362.00	.09
EVERI HOLDINGS INC	EVRI	30034T103	COMMON STOCK	175,845.0000	2,940,128.40	.25
EVOQUA WATER TECHNOLOGIES CO	AQUA	30057T105	COMMON STOCK	6,819.0000	296,558.31	.03
EXCELERATE ENERGY INC-A	EE	30069T101	COMMON STOCK	5,574.0000	158,078.64	.01
EXLSERVICE HOLDINGS INC	EXLS	302081104	COMMON STOCK	26,566.0000	4,973,155.20	.42
EXPONENT INC	EXPO	30214U102	COMMON STOCK	14.0000	1,447.74	.00
EXTRA SPACE STORAGE INC	EXR	30225T102	REIT - Real Estate Invesment Trust	61,500.0000	9,882,435.00	.84
EXTREME NETWORKS INC	EXTR	30226D106	COMMON STOCK	260,368.0000	5,459,916.96	.46
FLYWIRE CORP-VOTING	FLYW	302492103	COMMON STOCK	73,506.0000	1,594,345.14	.14
FTI CONSULTING INC	FCN	302941109	COMMON STOCK	1,398.0000	241,602.36	.02
FEDERAL SIGNAL CORP	FSS	313855108	COMMON STOCK	79,331.0000	3,854,693.29	.33
FIRST INTERSTATE BANCSYS-A	FIBK	32055Y201	COMMON STOCK	180,800.0000	7,886,496.00	.67
FLUOR CORP	FLR	343412102	COMMON STOCK	8,415.0000	282,828.15	.02
FORTIVE CORP	FTV	34959J108	COMMON STOCK	87,500.0000	5,910,625.00	.50
FORWARD AIR CORP	FWRD	349853101	COMMON STOCK	31,011.0000	3,484,706.07	.30
FULL HOUSE RESORTS INC	FLL	359678109	COMMON STOCK	124,714.0000	954,062.10	.08
GENERAL DYNAMICS CORP	GD	369550108	COMMON STOCK	23,100.0000	5,830,209.00	.49
GENTEX CORP	GNTX	371901109	COMMON STOCK	280,900.0000	8,118,010.00	.69
GENTHERM INC	THRM	37253A103	COMMON STOCK	28,701.0000	2,054,704.59	.17
GLOBAL PAYMENTS INC	GPN	37940X102	COMMON STOCK	130,300.0000	13,522,534.00	1.15
GOODYEAR TIRE & RUBBER CO	GT	382550101	COMMON STOCK	175,943.0000	1,974,080.46	.17
GREEN PLAINS INC	GPRE	393222104	COMMON STOCK	58,409.0000	2,018,615.04	.17
GRID DYNAMICS HOLDINGS INC	GDYN	39813G109	COMMON STOCK	89,649.0000	1,142,128.26	.10
H&E EQUIPMENT SERVICES INC	HEES	404030108	COMMON STOCK	17,342.0000	727,150.06	.06
HAIN CELESTIAL GROUP INC	HAIN	405217100	COMMON STOCK	114,108.0000	2,138,383.92	.18
HALOZYME THERAPEUTICS INC	HALO	40637H109	COMMON STOCK	9,981.0000	571,512.06	.05
HANCOCK WHITNEY CORP	HWC	410120109	COMMON STOCK	3,403.0000	186,620.52	.02
HARMONIC INC	HLIT	413160102	COMMON STOCK	743,324.0000	11,402,590.16	.97
HARSCO CORP	HSC	415864107	COMMON STOCK	129,220.0000	966,565.60	.08
HARTFORD FINANCIAL SVCS GRP	HIG	416515104	COMMON STOCK	137,400.0000	10,493,238.00	.89
HEALTHCARE REALTY TRUST INC		42226K105	REIT - Real Estate Invesment Trust	571,900.0000	11,741,107.00	.99
HELMERICH & PAYNE	HP	423452101	COMMON STOCK	54,810.0000	2,799,694.80	.24
HERC HOLDINGS INC	HRI	42704L104	COMMON STOCK	30,600.0000	3,922,002.00	.33
HERITAGE FINANCIAL CORP	HFWA	42722X106	COMMON STOCK	32,387.0000	1,065,532.30	.09
HESS CORP	HES	42809H107	COMMON STOCK	59,200.0000	8,519,472.00	.72
HEXCEL CORP	HXL	428291108	COMMON STOCK	46,153.0000	2,766,872.35	.23
HILLENBRAND INC	HI	431571108	COMMON STOCK	32,024.0000	1,601,200.00	.14
HOSTESS BRANDS INC	TWNK	44109J106	COMMON STOCK	143,159.0000	3,779,397.60	.32
HOWMET AEROSPACE INC	HWM	443201108	COMMON STOCK	186,400.0000	7,021,688.00	.59
HURON CONSULTING GROUP INC	HURN	447462102	COMMON STOCK	142,701.0000	11,110,699.86	.94
ICF INTERNATIONAL INC	ICFI	44925C103	COMMON STOCK	12,508.0000	1,355,491.96	.11
ITT INC	ITT	45073V108	COMMON STOCK	53,869.0000	4,553,007.88	.39
IDACORP INC	IDA	451107106	COMMON STOCK	37,639.0000	4,160,238.67	.35
IMPINJ INC	PI	453204109	COMMON STOCK	68,828.0000	8,779,011.40	.74
INARI MEDICAL INC	NARI	45332Y109	COMMON STOCK	2,268.0000	166,879.44	.01
INDEPENDENT BANK CORP/MA	INDB	453836108	COMMON STOCK	55,031.0000	4,981,406.12	.42
INGEVITY CORP	NGVT	45688C107	COMMON STOCK	46,929.0000	3,673,132.83	.31
INGREDION INCORPORATED	INGR	457187102	COMMON STOCK	56,729.0000	5,557,740.13	.47
INNOSPEC INC	IOSP	45768S105	COMMON STOCK	23,860.0000	2,645,835.40	.22
INSPIRE MEDICAL SYSTEMS INC	INSP	457730109	COMMON STOCK	14,554.0000	3,515,809.78	.30
INTEGRA LIFESCIENCES HOLDING	IART	457985208	COMMON STOCK	87,538.0000	4,809,337.72	.41
INTERNATIONAL MONEY EXPRESS	IMXI	46005L101	COMMON STOCK	125,298.0000	2,721,472.56	.23
IRIDIUM COMMUNICATIONS INC	IRDM	46269C102	COMMON STOCK	5,292.0000	281,005.20	.02
ISHARES RUSSELL MID-CAP ETF	IWR	464287499	POOLED INVESTMENTS	44,294.0000	3,173,665.10	.27
ISHARES RUSSELL 2000 VALUE E	IWN	464287630	POOLED INVESTMENTS	70,021.0000	10,463,938.24	.89
ISHARES RUSSELL 2000 ETF	IWM	464287655	POOLED INVESTMENTS	256,810.0000	48,118,489.70	4.08
I3 VERTICALS INC-CLASS A	IIIV	46571Y107	COMMON STOCK	67,008.0000	1,761,640.32	.15
IVERIC BIO INC	ISEE	46583P102	COMMON STOCK	72,768.0000	1,718,780.16	.15
KBR INC	KBR	48242W106	COMMON STOCK	3,404.0000	175,884.68	.01
KALVISTA PHARMACEUTICALS INC	KALV	483497103	COMMON STOCK	108,860.0000	586,755.40	.05
KARAT PACKAGING INC	KRT	48563L101	COMMON STOCK	111,268.0000	1,537,723.76	.13
KARUNA THERAPEUTICS INC	KRTX	48576A100	COMMON STOCK	664.0000	156,245.84	.01
KELLY SERVICES INC -A	KELYA	488152208	COMMON STOCK	80,472.0000	1,367,219.28	.12
KINSALE CAPITAL GROUP INC	KNSL	49714P108	COMMON STOCK	2,426.0000	747,717.46	.06
KIRBY CORP	KEX	497266106	COMMON STOCK	1,795.0000	125,273.05	.01
KORN FERRY	KFY	500643200	COMMON STOCK	61,628.0000	3,514,644.84	.30
KURA SUSHI USA INC-CLASS A		501270102	COMMON STOCK	53,041.0000	3,484,793.70	.30
L3HARRIS TECHNOLOGIES INC	LHX	502431109	COMMON STOCK	30,600.0000	6,948,648.00	.59
LANCASTER COLONY CORP	LANC	513847103	COMMON STOCK	9,843.0000	2,038,879.02	.17
LANTHEUS HOLDINGS INC	LNTH	516544103	COMMON STOCK	33,085.0000	2,053,916.80	.17
LINDSAY CORP	LNN	535555106	COMMON STOCK	10,088.0000	1,780,431.12	.15
LIQUIDITY SERVICES INC	LQDT	53635B107	COMMON STOCK	98,572.0000	1,645,166.68	.14
LIVENT CORP	LTHM	53814L108	COMMON STOCK	161,486.0000	4,519,993.14	.38
LUMENTUM HOLDINGS INC	LITE	55024U109	COMMON STOCK	50,777.0000	2,789,688.38	.24
MGIC INVESTMENT CORP	MTG	552848103	COMMON STOCK	191,890.0000	2,634,649.70	.22
MGP INGREDIENTS INC	MGPI	55303J106	COMMON STOCK	73,469.0000	9,188,033.14	.78
MP MATERIALS CORP	MP	553368101	COMMON STOCK	4,322.0000	143,706.50	.01
MYR GROUP INC/DELAWARE	MYRG	55405W104	COMMON STOCK	20,265.0000	1,935,915.45	.16
MACOM TECHNOLOGY SOLUTIONS	MTSI	55405Y100	COMMON STOCK	35,861.0000	2,463,292.09	.21
STEVEN MADDEN LTD	SHOO	556269108	COMMON STOCK	85,923.0000	2,967,780.42	.25
MARTIN MARIETTA MATERIALS	MLM	573284106	COMMON STOCK	26,900.0000	9,858,312.00	.84
MATADOR RESOURCES CO	MTDR	576485205	COMMON STOCK	76,299.0000	5,063,201.64	.43
MCGRATH RENTCORP	MGRC	580589109	COMMON STOCK	26,495.0000	2,599,689.40	.22
METROPOLITAN BANK HOLDING CO	MCB	591774104	COMMON STOCK	12,993.0000	825,575.22	.07
MODINE MANUFACTURING CO	MOD	607828100	COMMON STOCK	40,790.0000	863,524.30	.07
MONTROSE ENVIRONMENTAL GROUP	MEG	615111101	COMMON STOCK	63,677.0000	2,939,330.32	.25
MORPHIC HOLDING INC	MORF	61775R105	COMMON STOCK	22,656.0000	623,493.12	.05
MOTOROLA SOLUTIONS INC	MSI	620076307	COMMON STOCK	39,100.0000	10,643,020.00	.90
MURPHY USA INC	MUSA	626755102	COMMON STOCK	19,123.0000	5,656,774.63	.48
NMI HOLDINGS INC-CLASS A	NMIH	629209305	COMMON STOCK	84,362.0000	1,816,313.86	.15
NV5 GLOBAL INC	NVEE	62945V109	COMMON STOCK	29,814.0000	4,308,421.14	.37
NATIONAL INSTRUMENTS CORP	NATI	636518102	COMMON STOCK	98,444.0000	4,038,172.88	.34
NATIONAL RETAIL PROPERTIES	NNN	637417106	REIT - Real Estate Invesment Trust	196,000.0000	9,086,560.00	.77
NATIONAL STORAGE AFFILIATES	NSA	637870106	REIT - Real Estate Invesment Trust	91,972.0000	3,661,405.32	.31
NEWMARK GROUP INC-CLASS A	NMRK	65158N102	COMMON STOCK	308,242.0000	2,613,892.16	.22
NUVALENT INC-A		670703107	COMMON STOCK	142,038.0000	4,670,209.44	.40
NUVASIVE INC	NUVA	670704105	COMMON STOCK	55,981.0000	2,174,302.04	.18
O-I GLASS INC	OI	67098H104	COMMON STOCK	260,945.0000	4,282,107.45	.36
OLD NATIONAL BANCORP	ONB	680033107	COMMON STOCK	218,139.0000	4,168,636.29	.35
OPTION CARE HEALTH INC	OPCH	68404L201	COMMON STOCK	2,274.0000	68,470.14	.01
OXFORD INDUSTRIES INC	OXM	691497309	COMMON STOCK	16,955.0000	1,913,541.30	.16
PDC ENERGY INC	PDCE	69327R101	COMMON STOCK	76,036.0000	5,650,995.52	.48
PNC FINANCIAL SERVICES GROUP	PNC	693475105	COMMON STOCK	31,800.0000	5,350,668.00	.45
PPG INDUSTRIES INC	PPG	693506107	COMMON STOCK	52,400.0000	7,085,528.00	.60
PPL CORP	PPL	69351T106	COMMON STOCK	350,300.0000	10,340,856.00	.88
PACWEST BANCORP	PACW	695263103	COMMON STOCK	110,152.0000	2,877,170.24	.24
PALOMAR HOLDINGS INC	PLMR	69753M105	COMMON STOCK	34,473.0000	2,162,836.02	.18
PARKER HANNIFIN CORP	PH	701094104	COMMON STOCK	15,400.0000	4,603,676.00	.39
PARSONS CORP	PSN	70202L102	COMMON STOCK	2,926.0000	144,837.00	.01
PATTERSON-UTI ENERGY INC	PTEN	703481101	COMMON STOCK	5,217.0000	93,645.15	.01
PAYLOCITY HOLDING CORP	PCTY	70438V106	COMMON STOCK	1,328.0000	289,278.24	.02
PAYONEER GLOBAL INC	PAYO	70451X104	COMMON STOCK	694,957.0000	3,752,767.80	.32
RANGER OIL CORP-A	ROCC	70788V102	COMMON STOCK	55,757.0000	2,429,332.49	.21
PERFORMANCE FOOD GROUP CO	PFGC	71377A103	COMMON STOCK	70,578.0000	4,303,846.44	.36
PERFORMANT FINANCIAL CORP	PFMT	71377E105	COMMON STOCK	262,160.0000	626,562.40	.05
PHOTRONICS INC	PLAB	719405102	COMMON STOCK	85,968.0000	1,616,198.40	.14
PHREESIA INC	PHR	71944F106	COMMON STOCK	58,425.0000	1,625,383.50	.14
PINNACLE FINANCIAL PARTNERS	PNFP	72346Q104	COMMON STOCK	65,954.0000	5,532,881.06	.47
PLEXUS CORP	PLXS	729132100	COMMON STOCK	18,213.0000	2,007,436.86	.17
PORTILLO'S INC-CL A		73642K106	COMMON STOCK	79,763.0000	1,610,414.97	.14
PORTLAND GENERAL ELECTRIC CO	POR	736508847	COMMON STOCK	129,209.0000	6,360,959.07	.54
PRESTIGE CONSUMER HEALTHCARE	PBH	74112D101	COMMON STOCK	128,884.0000	7,921,210.64	.67
PRIMERICA INC	PRI	74164M108	COMMON STOCK	25,484.0000	3,797,880.52	.32
PROCEPT BIOROBOTICS CORP	PRCT	74276L105	COMMON STOCK	91,787.0000	3,937,662.30	.33
PROFRAC HOLDING CORP-A	ACDC	74319N100	COMMON STOCK	7,670.0000	180,858.60	.02
QUANTA SERVICES INC	PWR	74762E102	COMMON STOCK	32,700.0000	4,901,076.00	.42
RAMBUS INC	RMBS	750917106	COMMON STOCK	2,823.0000	108,346.74	.01
REAL GOOD FOOD CO INC/THE		75601G109	COMMON STOCK	135,621.0000	969,690.15	.08
REGAL REXNORD CORP	RRX	758750103	COMMON STOCK	39,384.0000	5,163,636.24	.44
RELAY THERAPEUTICS INC	RLAY	75943R102	COMMON STOCK	104,932.0000	1,949,636.56	.17
REPUBLIC SERVICES INC	RSG	760759100	COMMON STOCK	37,200.0000	5,181,588.00	.44
REVOLUTION MEDICINES INC	RVMD	76155X100	COMMON STOCK	40,801.0000	962,495.59	.08
REXFORD INDUSTRIAL REALTY IN	REXR	76169C100	REIT - Real Estate Invesment Trust	195,400.0000	10,803,666.00	.92
ROPER TECHNOLOGIES INC	ROP	776696106	COMMON STOCK	19,100.0000	8,382,799.00	.71
RYMAN HOSPITALITY PROPERTIES	RHP	78377T107	REIT - Real Estate Invesment Trust	2,276.0000	208,322.28	.02
SBA COMMUNICATIONS CORP	SBAC	78410G104	REIT - Real Estate Invesment Trust	38,700.0000	11,582,910.00	.98
SPX TECHNOLOGIES INC	SPXC	78473E103	COMMON STOCK	3,797.0000	254,019.30	.02
SAIA INC	SAIA	78709Y105	COMMON STOCK	704.0000	171,487.36	.01
SELECT ENERGY SERVICES INC-A	WTTR	81617J301	COMMON STOCK	195,608.0000	1,602,029.52	.14
SHERWIN-WILLIAMS CO/THE	SHW	824348106	COMMON STOCK	27,400.0000	6,827,532.00	.58
SHOCKWAVE MEDICAL INC	SWAV	82489T104	COMMON STOCK	976.0000	247,513.60	.02
SHOALS TECHNOLOGIES GROUP -A	SHLS	82489W107	COMMON STOCK	12,843.0000	372,061.71	.03
SHYFT GROUP INC/THE	SHYF	825698103	COMMON STOCK	94,319.0000	2,313,645.07	.20
SIGNATURE BANK	SBNY	82669G104	COMMON STOCK	41,300.0000	5,761,350.00	.49
SILGAN HOLDINGS INC	SLGN	827048109	COMMON STOCK	37,476.0000	1,982,480.40	.17
SOVOS BRANDS INC	SOVO	84612U107	COMMON STOCK	241,487.0000	3,474,997.93	.29
SPIRE INC	SR	84857L101	COMMON STOCK	34,007.0000	2,519,918.70	.21
SPRINGWORKS THERAPEUTICS INC	SWTX	85205L107	COMMON STOCK	37,057.0000	896,038.26	.08
STAG INDUSTRIAL INC	STAG	85254J102	REIT - Real Estate Invesment Trust	148,777.0000	4,896,251.07	.41
STANDEX INTERNATIONAL CORP	SXI	854231107	COMMON STOCK	32,544.0000	3,418,747.20	.29
STERLING INFRASTRUCTURE INC	STRL	859241101	COMMON STOCK	4,319.0000	141,447.25	.01
STRIDE INC	LRN	86333M108	COMMON STOCK	76,453.0000	2,707,200.73	.23
SYSCO CORP	SYY	871829107	COMMON STOCK	36,300.0000	3,140,313.00	.27
TARGET CORP	TGT	87612E106	COMMON STOCK	46,400.0000	7,752,048.00	.66
TEGNA INC	TGNA	87901J105	COMMON STOCK	42,690.0000	842,700.60	.07
TELEFLEX INC	TFX	879369106	COMMON STOCK	39,100.0000	9,154,092.00	.78
TETRA TECH INC	TTEK	88162G103	COMMON STOCK	2,073.0000	320,465.07	.03
TEXAS ROADHOUSE INC	TXRH	882681109	COMMON STOCK	2,813.0000	279,387.16	.02
BEAUTY HEALTH CO/THE	SKIN	88331L108	COMMON STOCK	54,824.0000	589,358.00	.05
TITAN INTERNATIONAL INC	TWI	88830M102	COMMON STOCK	159,452.0000	2,284,947.16	.19
TOLL BROTHERS INC	TOL	889478103	COMMON STOCK	169,800.0000	8,135,118.00	.69
TRANSMEDICS GROUP INC	TMDX	89377M109	COMMON STOCK	107,658.0000	6,660,800.46	.56
TREACE MEDICAL CONCEPTS INC	TMCI	89455T109	COMMON STOCK	145,623.0000	3,371,172.45	.29
TREEHOUSE FOODS INC	THS	89469A104	COMMON STOCK	108,851.0000	5,380,504.93	.46
UDEMY INC	UDMY	902685106	COMMON STOCK	176,431.0000	2,503,555.89	.21
UMPQUA HOLDINGS CORP	UMPQ	904214103	COMMON STOCK	321,186.0000	6,510,440.22	.55
UNIVEST FINANCIAL CORP	UVSP	915271100	COMMON STOCK	111,431.0000	3,143,468.51	.27
URANIUM ENERGY CORP	UEC	916896103	COMMON STOCK	463,079.0000	1,796,746.52	.15
URBAN OUTFITTERS INC	URBN	917047102	COMMON STOCK	89,012.0000	2,576,007.28	.22
UTZ BRANDS INC	UTZ	918090101	COMMON STOCK	146,988.0000	2,801,591.28	.24
VALMONT INDUSTRIES	VMI	920253101	COMMON STOCK	15,462.0000	5,236,360.92	.44
VALVOLINE INC	VVV	92047W101	COMMON STOCK	113,382.0000	3,739,338.36	.32
VAXCYTE INC	PCVX	92243G108	COMMON STOCK	95,815.0000	4,413,238.90	.37
VENTYX BIOSCIENCES INC	VTYX	92332V107	COMMON STOCK	118,641.0000	3,439,402.59	.29
VERACYTE INC	VCYT	92337F107	COMMON STOCK	56,559.0000	1,568,946.66	.13
VERTEX ENERGY INC	VTNR	92534K107	COMMON STOCK	128,348.0000	1,064,004.92	.09
VIAVI SOLUTIONS INC	VIAV	925550105	COMMON STOCK	341,761.0000	3,872,152.13	.33
VIRIDIAN THERAPEUTICS INC	VRDN	92790C104	COMMON STOCK	48,776.0000	1,232,569.52	.10
VISTEON CORP	VC	92839U206	COMMON STOCK	3,601.0000	528,626.80	.04
VITA COCO CO INC/THE		92846Q107	COMMON STOCK	108,291.0000	1,282,165.44	.11
VITAL FARMS INC	VITL	92847W103	COMMON STOCK	197,873.0000	2,823,647.71	.24
WABASH NATIONAL CORP	WNC	929566107	COMMON STOCK	113,106.0000	2,835,567.42	.24
WESTERN ALLIANCE BANCORP	WAL	957638109	COMMON STOCK	86,400.0000	5,921,856.00	.50
WILLSCOT MOBILE MINI HOLDING		971378104	COMMON STOCK	13,172.0000	635,022.12	.05
WINGSTOP INC	WING	974155103	COMMON STOCK	2,884.0000	477,330.84	.04
WINTRUST FINANCIAL CORP	WTFC	97650W108	COMMON STOCK	76,058.0000	6,953,982.94	.59
WORLD WRESTLING ENTERTAIN-A	WWE	98156Q108	COMMON STOCK	2,877.0000	229,814.76	.02
XPEL INC	XPEL	98379L100	COMMON STOCK	47,963.0000	3,287,863.65	.28
XCEL ENERGY INC	XEL	98389B100	COMMON STOCK	147,300.0000	10,343,406.00	.88
XPONENTIAL FITNESS INC-A		98422X101	COMMON STOCK	218,961.0000	4,847,796.54	.41
XOMETRY INC-A		98423F109	COMMON STOCK	116,919.0000	4,937,489.37	.42
YETI HOLDINGS INC	YETI	98585X104	COMMON STOCK	34,267.0000	1,538,245.63	.13
ZIMMER BIOMET HOLDINGS INC	ZBH	98956P102	COMMON STOCK	138,900.0000	16,681,890.00	1.41
BIOHAVEN LTD	BHVN-W	BPLZ7S5	COMMON STOCK	81,410.0000	1,287,906.20	.11
ESTABLISHMENT LABS HOLDINGS		BYVR2D4	COMMON STOCK	28,338.0000	1,806,830.88	.15

As of 11/30/2022.

Distributions

Fund Name	Fund Cusip	Distribution Type	Amount per Share	Ex Date	Reinvest Date	Reinvest Price
Destinations Small-Mid Cap Equity Fund	10964R855	Short-Term Capital Gains	1.891249	12/16/2021	12/16/2021	$10.37
Destinations Small-Mid Cap Equity Fund	10964R855	Long-Term Capital Gains	2.110002	12/16/2021	12/16/2021	$10.37
Destinations Small-Mid Cap Equity Fund	10964R855	Dividend	0.021682	12/16/2020	12/16/2020	$11.50
Destinations Small-Mid Cap Equity Fund	10964R855	Short-Term Capital Gains	0.161806	12/16/2020	12/16/2020	$11.50
Destinations Small-Mid Cap Equity Fund	10964R855	Long-Term Capital Gains	0.138242	12/16/2020	12/16/2020	$11.50
Destinations Small-Mid Cap Equity Fund	10964R855	Dividend	0.079231	12/16/2019	12/16/2019	$9.69
Destinations Small-Mid Cap Equity Fund	10964R855	Short-Term Capital Gains	0.070163	12/16/2019	12/16/2019	$9.69
Destinations Small-Mid Cap Equity Fund	10964R855	Long-Term Capital Gains	0.361454	12/16/2019	12/16/2019	$9.69
Destinations Small-Mid Cap Equity Fund	10964R855	Dividend	0.068391	12/17/2018	12/17/2018	$8.06
Destinations Small-Mid Cap Equity Fund	10964R855	Short-Term Capital Gains	0.357012	12/17/2018	12/17/2018	$8.06
Destinations Small-Mid Cap Equity Fund	10964R855	Long-Term Capital Gains	0.167244	12/17/2018	12/17/2018	$8.06

Fees and expenses

Type	Amount
Management Fees	0.90%
Distribution and Service (12b-1) Fees	None
Other Expenses	0.06%
AFFE	None
Total Annual Fund Operating Expenses	0.96%
Fee waivers and expense reimbursements	-0.01%
Total Annual Fund Operating Expenses Less Fee Waivers and Expense Reimbursements	0.95%*

Contact

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 Investments LLC
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

Media Relations
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.