Symmetry Panoramic Trust NCSR Certified annual shareholder report (management investment company)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

________

FORM N-CSR

________

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT

INVESTMENT COMPANIES

Investment Company Act File Number 811- 23334

Symmetry Panoramic Trust

(Exact name of registrant as specified in charter)

________

151 National Drive

Glastonbury, CT 06033

(Address of principal executive offices) (Zip code)

Timothy Richards

Symmetry Partners, LLC

151 National Drive

Glastonbury, CT 06033

(Name and address of agent for service)

Copy to:

Mark C. Amorosi, Esq.

K&L Gates LLP

1601 K Street NW

Washington, D.C. 20006

Registrant’s telephone number, including area code: (844) 796-3863

Date of fiscal year end: August 31, 2022

Date of reporting period: August 31, 2022

Item 1. Reports to Stockholders.

A copy of the report transmitted to stockholders pursuant to Rule 30e-1 under the Investment Company Act or 1940, as amended (the “1940 Act”) (17 CFR § 270.30e-1), is attached hereto.

Symmetry Panoramic Trust

Annual Report

AUGUST 31, 2022

Symmetry Panoramic US Equity Fund (SPUSX)
Symmetry Panoramic International Equity Fund (SPILX)
Symmetry Panoramic Global Equity Fund (SPGEX)
Symmetry Panoramic Tax-Managed Global Equity Fund (SPGTX)
Symmetry Panoramic US Fixed Income Fund (SPUBX)
Symmetry Panoramic Municipal Fixed Income Fund (SPMFX)
Symmetry Panoramic Global Fixed Income Fund (SPGBX)
Symmetry Panoramic Alternatives Fund (SPATX)

SYMMETRY PANORAMIC TRUST
AUGUST 31, 2022

Table of Contents

Shareholders’ Letter	1
Management Discussion of Fund Performance	6
Schedules of Investments	14
Statements of Assets and Liabilities	95
Statements of Operations	97
Statements of Changes in Net Assets	100
Financial Highlights	108
Notes to Financial Statements	116
Report of Independent Registered Public Accounting Firm	152
Trustees and Officers of the Trust	154
Disclosure of Fund Expenses	160
Advisory and Sub-Advisory Agreement Approval Disclosure	162
Notice to Shareholders	170

The Funds file their complete schedules of investments with the Securities and Exchange Commission (“SEC”) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT (Form N-Q for filings prior to March 31, 2020). The Funds’ Forms N-Q and N-PORT are available on the SEC’s website at http://www.sec.gov.

A description of the policies and procedures that the Funds use to determine how to vote proxies relating to fund securities, as well as information relating to how the Funds voted proxies relating to fund securities during the most recent 12-month period ended June 30, is available (i) without charge, upon request, by calling 1-844-796-3863; and (ii) on the SEC’s website at http://www.sec.gov.

SYMMETRY PANORAMIC TRUST
AUGUST 31, 2022
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Shareholders’ Letter

Dear Shareholders,

On behalf of the Symmetry Panoramic Trust, I am pleased to present you with the annual report for the year ending August 31, 2022. During this fiscal year, the Symmetry Panoramic Funds celebrated their third anniversary. We were proud to pause and celebrate having achieved our main goals of launching the Funds. The Panoramic Fund complex includes eight mutual funds that can be purchased individually or utilized to construct diversified, global, multi-factor, multi-asset-class portfolios. We believe that we still have a unique offering, combining a fund-of-funds structure with the ability to include sleeves within the Funds that may be managed by one or more subadvisors, which allows us to access our preferred implementation from many well-known managers.

Fiscal 2022 brought with it various unique challenges. While the severity of the global pandemic appeared to decline, other concerns emerged. As economies that had been aggressively stimulated during the pandemic returned to pre-pandemic levels of activity, indications of inflation quickly emerged. Early interpretations that this increase in general price levels was going to be transitory in nature quickly faded away as changes in the Consumer Price Index reached levels not seen in four decades⁽ⁱ⁾. Concerns about an impending global recession ensued and markets reflected these sentiments. The global equity⁽ⁱⁱ⁾ market was down more than 16% for the fiscal year, with the U.S. equity market⁽ⁱⁱⁱ⁾outperforming developed equities^(iv), which, in turn, outperformed Emerging Markets equities^(v).

One of our strongest-held beliefs is the power of diversification, which reduces the amount of risk that any individual holding, asset class, geography, or investing style, among other discrete exposures, may contribute to the portfolio. Many of the Funds saw the benefit during the fiscal year of diversification and intentional positioning of portfolios to favor specific investing styles, or factors. However, diversification does not remove systematic risk, or the risk inherent in investing in a market, from a portfolio. If an investor is exposed to the U.S. fixed-income market, for instance, the performance of that market will be largely captured by a diversified portfolio.

As a result, with global-equity and fixed-income markets being down, the Funds also registered losses. However, the good news is that several Panoramic Funds (the four Equity Funds and the Alternative Fund) registered stronger relative performance than broad markets, evidenced in their outperformance of their benchmarks. Value and Low Volatility were the equity factors that outperformed globally^(vi) for the fiscal year^(vii).Shareholders benefitted from these examples of relative outperformance, largely attributable to those Funds’ exposure to various factors which were in favor during the fiscal year.

Discussion among factor investors, for some time, has focused on an expected recovery in the equity Value factor, after having historically challenging performance leading up to and into the COVID pandemic. While we welcome the contribution to performance that the Value factor has provided in the recent past, we remain mindful that each style factor

SYMMETRY PANORAMIC TRUST
AUGUST 31, 2022
(Unaudited)

may be in or out of favor during short periods. Even if the equity Value factor continues to outperform as valuation spreads between value and growth stocks approach a level more consistent with historical averages, this factor may experience pullbacks along the way. Our investment philosophy is based on the evidence that style factors have the potential to outperform market capitalization weighted benchmarks over the long-term.

As summarized below, each of our four Equity Funds again outperformed that Fund’s benchmark during the fiscal year.

Symmetry Panoramic Equity Funds	2021-09-01 to 2022-08-31
Symmetry Panoramic US Equity (SPUSX)		-9.04	%
MSCI US Broad Market GR USD Index		-13.31	%
SPUSX- Benchmark		4.27	%
Symmetry Panoramic International Equity (SPILX)		-18.28	%
MSCI ACWI Ex USA IMI NR USD Index		-19.96	%
SPILX – Benchmark		1.68	%
Symmetry Panoramic Global Equity (SPGEX)		-12.63	%
Symmetry Panoramic Tax-Managed Global Equity (SPGTX)		-13.28	%
MSCI ACWI IMI NR USD Index		-16.24	%
SPGEX – Benchmark		3.61	%
SPGTX – Benchmark		2.96	%

During the fiscal-year-ended August 31, 2022, the U.S. Treasury yield curve shifted upward dramatically, especially for shorter maturities. During this period, corporate credit spreads increased, more dramatically for lower credit-qualities, exacerbating the impact of increasing yields on the prices of bonds and leading to negative returns. The Symmetry Panoramic fixed-income funds were impacted by this prevailing increase in yields. Their performance relative to benchmarks is summarized below.

Symmetry Panoramic Fixed-Income Funds	2021-09-01 to 2022-08-31
Symmetry Panoramic US Fixed Income (SPUBX)		-8.97	%
Bloomberg US Govt/Credit 1-5 Year TR USD Index		-5.84	%
SPUBX – Benchmark		-3.13	%
Symmetry Panoramic Global Fixed Income (SPGBX)		-11.66	%
Bloomberg Global Aggregate TR Hedged USD Index		-9.99	%
SPGBX – Benchmark		-1.67	%
Symmetry Panoramic Municipal Fixed Income (SPMFX)		-3.54	%
S&P S/T National AMT Free Muni TR USD Index		-2.82	%
SPMFX – Benchmark		-0.73	%

In the Alternative Fund, managed futures, or trend-following, strategies and long-short multi-factor strategies performed very strongly during the fiscal-year-ended August 31, 2022, while arbitrage strategies were slightly negative. This resulted in strong, positive performance for the Fund during a period when investors greatly benefited from having some diversification from traditional asset classes.

SYMMETRY PANORAMIC TRUST
AUGUST 31, 2022
(Unaudited)

Symmetry Panoramic Alternative Fund	2021-09-01 to 2022-08-31
Symmetry Panoramic Alternatives (SPATX)		11.84	%
HFRI FOF: Conservative Index		0.70	%
SPATX – Benchmark		11.14	%

Discussions of a global pandemic earlier in this fiscal year were quickly replaced by concern about war, inflation, and recession. Monetary and fiscal policies around the world are now being calibrated to offset the unprecedented level of stimulus that was implemented during the pandemic-induced economic shutdowns in various countries, resulting in a general decline in asset prices. We at Symmetry are still prioritizing the diversification of factors, and we remain focused on strategic investment priorities over a horizon that extends beyond immediate-term considerations. In order to capture returns of equity and fixed-income markets, one likely needs to remain invested even through uncertain times.

On behalf of all my colleagues at Symmetry Partners, I would like to thank you for the confidence that you have placed in our Panoramic Funds and their role in your financial future.

Sincerely,

Philip McDonald

President, Symmetry Panoramic Trust

Symmetry Partners, LLC is an investment advisory firm registered with the Securities and Exchange Commission. The firm only transacts business in states where it is properly registered, or excluded or exempt from registration requirements. Registration with the SEC or any state securities authority does not imply a certain level of skill or training. No one should assume that future performance of any specific investment, investment strategy, product, or non-investment related content made reference to directly or indirectly in this material will be profitable. As with any investment strategy, there is the possibility of profitability as well as loss. Due to various factors, including changing market conditions and/or applicable laws, the content may not be reflective of current opinions or positions. Diversification seeks to improve performance by spreading your investment dollars into various asset classes to add balance to your portfolio. Using this methodology, however, does not guarantee a profit or protection from loss in a declining market. Past performance does not guarantee future results.

Symmetry Partners’ investment approach seeks enhanced returns by overweighting assets that exhibit characteristics that tend to be in accordance with one or more “factors” identified in academic research as historically associated with higher returns. Please be advised that adding these factors may not ensure increased return over a market weighted investment and may lead to underperformance relative to the benchmark over the investor’s time horizon.

All indexes have certain limitations. Investors cannot invest directly in an index. Indexes do not have fees. Historical performance results for investment indexes generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment management fee, the incurrence of which would have the effect of decreasing historical performance results. Actual performance for client accounts may differ materially from the index portfolios. There is always the risk that an investor may lose money. Even a long-term investment approach cannot guarantee a profit. Economic, political, and issuer-specific events will cause the value of securities, and the portfolios that own them, to rise or fall. Indexes are referred to for comparative purposes only and do not represent similar asset classes in terms of components or risk exposure; thus, their returns may vary significantly.

© Morningstar 2022. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied, adapted or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information, except where such damages or losses cannot be limited or excluded by law in your jurisdiction.

SYMMETRY PANORAMIC TRUST
AUGUST 31, 2022
(Unaudited)

(i) Source: U.S. Bureau of Labor Statistics.

(ii) As represented by the MSCI ACWI IMI NR USD Index.

(iii) As represented by the MSCI US Broad Market GR USD Index.

(iv) As represented by the MSCI ACWI Ex USA IMI NR USD Index.

(v) As represented by the MSCI EM GR USD Index.

(vi) Compared to the performance of the MSCI ACWI IMI NR USD Index.

(vii) In addition, the Small and Quality factors also outperformed the MSCI EM GR USD Index in the Emerging Markets geography.

Description of the Funds’ Benchmarks

MSCI US Broad Market Index (Primary Benchmark for the Symmetry Panoramic US Equity Fund) captures broad US equity coverage. The index includes 3,053 constituents across large, mid, small and micro capitalizations, representing about 99% of the US equity universe.

MSCI ACWI ex USA Investable Market Index (net) (IMI) (Primary Benchmark for the Symmetry Panoramic International Equity Fund) captures large, mid and small cap representation across 22 of 23 Developed Markets (DM) countries (excluding the United States) and 27 Emerging Markets (EM) countries. With 6,750 constituents, the index covers approximately 99% of the global equity opportunities set outside of the US.

MSCI ACWI Investable Market Index (net) (IMI) (Primary Benchmark for the Symmetry Panoramic Global Equity Fund and Symmetry Panoramic Tax-Managed Global Equity Fund) captures large, mid and small representation across 23 Developed Markets (DM) and 27 Emerging Markets (EM) countries. With 9,226 constituents, the index is comprehensive, covering approximately 99% of the global equity investment opportunity set.

Bloomberg 1-5 Year US Government/Credit Index (Primary Benchmark for the Symmetry Panoramic US Fixed Income Fund) measures the performance of U.S. dollar-denominated U.S. Treasury, government related (i.e., U.S. and non-U.S. agencies, sovereign, quasi-sovereign, supranational and local authority debt) and investment grade U.S. corporate fixed rate bonds that have a remaining maturity of greater than or equal to one year and less than five years.

S&P Short Term National AMT-Free Municipal Bond Index (Primary Benchmark for the Symmetry Panoramic Municipal Fixed Income Fund) is a market-value weighted index that is designed to measure the performance of investment-grade tax-exempt U.S. municipal bonds with an effective maturities of 1 month to 5 years. Bonds issued by U.S. territories, including Puerto Rico, are excluded from this index.

Bloomberg Capital Global Aggregate Hedged USD Index (Primary Benchmark for the Symmetry Panoramic Global Fixed Income Fund) measures global investment grade debt

SYMMETRY PANORAMIC TRUST
AUGUST 31, 2022
(Unaudited)

from twenty-four local currency markets hedged to the U.S. dollar. The multi-currency benchmark includes treasury, government-related, corporate and securitized fixed-rate bonds from both developed and emerging markets issuers.

HFRI Fund of Funds Conservative Index (Primary Benchmark for the Symmetry Panoramic Alternatives Fund) measures the performance of funds of funds that exhibit one or more of the following characteristics: seeks consistent returns by primarily investing in funds that generally engage in more “conservative” strategies such as Equity Market Neutral, Fixed Income Arbitrage, and Convertible Arbitrage; exhibits a lower historical annual standard deviation than the HFRI Fund of Funds Composite Index. A fund in the HFRI Fund of Funds Conservative Index shows generally consistent performance regardless of market conditions.

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2022
(Unaudited)

Management Discussion of Fund Performance

Growth of a $10,000 Investment

	AVERAGE ANNUAL TOTAL RETURN FOR THE YEAR ENDED AUGUST 31, 2022
		One Year Return	Three Year Return	Annualized Inception to Date*
Symmetry Panoramic US Equity Fund, Class I		-9.04%	9.76%		9.35%
MSCI US Broad Market Index		-13.31%	12.06%		11.80%

* The Fund commenced operations on November 12, 2018.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that shares, when redeemed or sold in the market, may be worth more or less than their original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund’s returns, do not reflect any fees or expenses. If such fees and expenses were included in the Index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index.

There are no assurances that the Fund will meet its stated objectives.

Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

See definition of comparative indices on page 4.

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2022
(Unaudited)

Management Discussion of Fund Performance

Growth of a $10,000 Investment

	AVERAGE ANNUAL TOTAL RETURN FOR THE YEAR ENDED AUGUST 31, 2022
		One Year Return	Three Year Return	Annualized Inception to Date*
Symmetry Panoramic International Equity Fund, Class I		-18.28%	2.91%		3.07%
MSCI ACWI ex USA Investable Market Index (net)		-19.96%	3.18%		3.54%

* The Fund commenced operations on November 12, 2018.

There are no assurances that the Fund will meet its stated objectives.

Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

Net total return indexes reinvest dividends after the deduction of withholding taxes, using (for international indexes) a tax rate applicable to non-resident institutional investors who do not benefit from double taxation treaties.

See definition of comparative indices on page 4.

SYMMETRY GLOBAL EQUITY FUND
AUGUST 31, 2022
(Unaudited)

Management Discussion of Fund Performance

Growth of a $10,000 Investment

	AVERAGE ANNUAL TOTAL RETURN FOR THE YEAR ENDED AUGUST 31, 2022
		One Year Return	Three Year Return	Annualized Inception to Date*
Symmetry Panoramic Global Equity Fund, Class I		-12.63%	7.08%		6.90%
MSCI ACWI Investable Market Index (net)		-16.24%	7.95%		7.93%

* The Fund commenced operations on November 12, 2018.

There are no assurances that the Fund will meet its stated objectives.

Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

See definition of comparative indices on page 4.

SYMMETRY PANORAMIC TAX-MANAGED GLOBAL EQUITY FUND
AUGUST 31, 2022
(Unaudited)

Management Discussion of Fund Performance

Growth of a $10,000 Investment

	AVERAGE ANNUAL TOTAL RETURN FOR THE YEAR ENDED AUGUST 31, 2022
		One Year Return	Three Year Return	Annualized Inception to Date*
Symmetry Panoramic Tax-Managed Global Equity Fund, Class I		-13.28%	6.95%		6.86%
MSCI ACWI Investable Market Index (net)		-16.24%	7.95%		7.93%

* The Fund commenced operations on November 12, 2018.

There are no assurances that the Fund will meet its stated objectives.

Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

See definition of comparative indices on page 4.

SYMMETRY PANORAMIC US FIXED INCOME FUND
AUGUST 31, 2022
(Unaudited)

Management Discussion of Fund Performance

Growth of a $10,000 Investment

	AVERAGE ANNUAL TOTAL RETURN FOR THE YEAR ENDED AUGUST 31, 2022
		One Year Return	Three Year Return	Annualized Inception to Date*
Symmetry Panoramic US Fixed Income Fund, Class I		-8.97%	-1.53%		0.75%
Bloomberg 1-5 Year US Government/Credit Index		-5.84%	-0.36%		1.31%

* The Fund commenced operations on November 12, 2018.

There are no assurances that the Fund will meet its stated objectives.

Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

See definition of comparative indices on page 4.

SYMMETRY PANORAMIC MUNICIPAL FIXED INCOME FUND
AUGUST 31, 2022
(Unaudited)

Management Discussion of Fund Performance

Growth of a $10,000 Investment

	AVERAGE ANNUAL TOTAL RETURN FOR THE YEAR ENDED AUGUST 31, 2022
		One Year Return	Three Year Return	Annualized Inception to Date*
Symmetry Panoramic Municipal Fixed Income Fund, Class I		-3.54%	-0.67%		0.28%
S&P Short Term National AMT-Free Municipal Bond Index		-2.82%	0.13%		1.11%

* The Fund commenced operations on November 12, 2018.

There are no assurances that the Fund will meet its stated objectives.

Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

See definition of comparative indices on page 4.

SYMMETRY PANORAMIC GLOBAL FIXED INCOME FUND
AUGUST 31, 2022
(Unaudited)

Management Discussion of Fund Performance

Growth of a $10,000 Investment

	AVERAGE ANNUAL TOTAL RETURN FOR THE YEAR ENDED AUGUST 31, 2022
		One Year Return	Three Year Return	Annualized Inception to Date*
Symmetry Panoramic Global Fixed Income Fund, Class I		-11.66%	-3.03%		0.22%
Bloomberg Capital Global Aggregate Hedged USD Index		-9.99%	-2.16%		1.12%

* The Fund commenced operations on November 12, 2018.

There are no assurances that the Fund will meet its stated objectives.

Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

See definition of comparative indices on page 4.

SYMMETRY PANORAMIC ALTERNATIVES FUND
AUGUST 31, 2022
(Unaudited)

Management Discussion of Fund Performance

Growth of a $10,000 Investment

	AVERAGE ANNUAL TOTAL RETURN FOR THE YEAR ENDED AUGUST 31, 2022
		One Year Return	Three Year Return	Annualized Inception to Date*
Symmetry Panoramic Alternatives Fund, Class I		11.84%	5.99%		5.35%
HFRI Fund of Funds Conservative Index		0.70%	4.96%		N/A

* The Fund commenced operations on November 12, 2018.

There are no assurances that the Fund will meet its stated objectives.

Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

See definition of comparative indices on page 5.

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2022

SECTOR WEIGHTINGS^† (UNAUDITED)

^†	Percentages are based on total investments. Total investments do not include futures and swaps.

SCHEDULE OF INVESTMENTS
COMMON STOCK — 64.0%
	Shares		Value
CANADA — 0.0%
Brookfield Asset Management, Cl A		230	$	11,064

PERU — 0.0%
Southern Copper		1,684		79,266

PUERTO RICO — 0.1%
Popular		4,502		347,645

SWITZERLAND — 0.1%
TE Connectivity		1,704		215,062

UNITED KINGDOM — 0.1%
Linde		2,187		618,615

UNITED STATES — 63.7%
COMMUNICATION SERVICES — 3.3%
Activision Blizzard		3,284		257,761
Alphabet, Cl A *		43,620		4,720,556
Alphabet, Cl C *		27,880		3,043,102
AT&T		36,978		648,594
Cable One		252		286,020

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
COMMUNICATION SERVICES — continued
DISH Network, Cl A *		2,940	$	51,009
Electronic Arts		1,941		246,255
Fox, Cl A		3,472		118,673
Fox, Cl B		2,648		83,730
Interpublic Group		4,420		122,169
Liberty Broadband, Cl C *		1,573		159,974
Liberty Media -Liberty Formula One, Cl C *		2,990		190,403
Liberty Media -Liberty SiriusXM, Cl A *		1,491		61,936
Liberty Media -Liberty SiriusXM, Cl B *		2,176		89,999
Live Nation Entertainment *		1,417		128,040
Lumen Technologies		25,003		249,030
Match Group *		1,161		65,631
Meta Platforms, Cl A *		14,958		2,437,107
News, Cl A		5,717		96,732
News, Cl B		2,934		50,582
Omnicom Group		3,901		260,977
Paramount Global, Cl B		4,906		114,751
ROBLOX, Cl A *		977		38,211
Sirius XM Holdings		11,567		70,443
Take-Two Interactive Software *		966		118,393
T-Mobile US *		3,776		543,593
Twitter *		4,036		156,395
Verizon Communications		43,303		1,810,498
Walt Disney *		6,849		767,636
Warner Bros Discovery *		15,823		209,497
				17,197,697

CONSUMER DISCRETIONARY — 6.2%
Advance Auto Parts		894		150,764
Amazon.com *		39,200		4,969,384
Aptiv *		1,406		131,363
Aramark		3,598		128,485
AutoNation *		7,727		962,784
AutoZone *		436		923,976
Bath & Body Works		3,762		140,435
Best Buy		5,622		397,419
Booking Holdings *		164		307,633
BorgWarner		3,607		135,984
Brunswick		491		36,683
Caesars Entertainment *		1,927		83,092

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
CONSUMER DISCRETIONARY — continued
CarMax *		2,063	$	182,452
Carvana, Cl A *		134		4,421
Chipotle Mexican Grill, Cl A *		180		287,424
Choice Hotels International		751		86,147
Darden Restaurants		1,419		175,544
Deckers Outdoor *		227		72,996
Dick's Sporting Goods		5,516		586,737
Dollar General		5,285		1,254,765
Dollar Tree *		3,120		423,322
Domino's Pizza		573		213,076
DR Horton		12,623		898,126
eBay		6,332		279,431
Etsy *		692		73,082
Expedia Group *		668		68,570
Floor & Decor Holdings, Cl A *		2,416		196,566
Ford Motor		32,143		489,859
Garmin		4,843		428,557
General Motors		11,955		456,800
Gentex		8,426		229,946
Genuine Parts		1,331		207,649
Hasbro		2,120		167,098
Hilton Worldwide Holdings		1,877		239,055
Home Depot		5,159		1,487,959
Hyatt Hotels, Cl A *		425		38,088
Las Vegas Sands *		3,090		116,277
Lear		951		131,847
Lennar, Cl A		4,547		352,165
Lennar, Cl B		300		18,504
Lithia Motors, Cl A		125		33,180
LKQ		12,623		671,796
Lowe's		5,910		1,147,367
Lululemon Athletica *		1,350		404,946
Marriott International, Cl A		1,649		253,517
Mattel *		2,055		45,457
McDonald's		3,125		788,375
Mohawk Industries *		762		84,094
Newell Brands		9,043		161,417
NIKE, Cl B		7,708		820,517
NVR *		44		182,163
O'Reilly Automotive *		798		556,302
Penske Automotive Group		7,201		849,070

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
CONSUMER DISCRETIONARY — continued
Polaris		719	$	81,441
Pool		1,487		504,375
PulteGroup		11,215		456,002
Ross Stores		2,042		176,163
Service International		2,804		173,035
Starbucks		5,137		431,868
Tapestry		2,045		71,023
Target		9,869		1,582,396
Tesla *		7,947		2,190,273
TJX		8,117		506,095
Tractor Supply		3,585		663,763
Ulta Beauty *		980		411,473
Vail Resorts		505		113,463
Whirlpool		1,387		217,204
Williams-Sonoma		6,158		916,002
Wynn Resorts *		834		50,532
Yum! Brands		2,040		226,930
				32,304,704

CONSUMER STAPLES — 5.0%
Albertsons, Cl A		9,382		258,099
Altria Group		20,732		935,428
Archer-Daniels-Midland		4,946		434,704
BJ's Wholesale Club Holdings *		2,157		160,675
Brown-Forman, Cl A		359		25,335
Brown-Forman, Cl B		1,246		90,584
Bunge		3,658		362,764
Campbell Soup		4,409		222,125
Casey's General Stores		559		119,497
Celsius Holdings *		347		35,911
Church & Dwight		14,098		1,180,144
Clorox		280		40,415
Coca-Cola		58,055		3,582,574
Colgate-Palmolive		4,095		320,270
Conagra Brands		2,821		96,986
Constellation Brands, Cl A		769		189,212
Costco Wholesale		2,411		1,258,783
Darling Ingredients *		2,067		157,216
Estee Lauder, Cl A		2,398		610,003
General Mills		16,665		1,279,872

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
CONSUMER STAPLES — continued
Hershey		1,710	$	384,186
Hormel Foods		3,234		162,605
J M Smucker		1,221		170,928
Kellogg		25,341		1,843,304
Keurig Dr Pepper		3,589		136,813
Kimberly-Clark		8,307		1,059,309
Kraft Heinz		6,306		235,844
Kroger		14,468		693,596
Lamb Weston Holdings		2,277		181,090
McCormick		2,266		190,518
Molson Coors Beverage, Cl B		737		38,081
Mondelez International, Cl A		4,741		293,278
Monster Beverage *		2,083		185,033
PepsiCo		11,221		1,933,042
Philip Morris International		24,209		2,311,717
Procter & Gamble		13,495		1,861,500
Sysco		3,290		270,504
Tyson Foods, Cl A		10,455		788,098
Walgreens Boots Alliance		8,151		285,774
Walmart		13,631		1,806,789
				26,192,606

ENERGY — 6.1%
Antero Resources *		3,433		137,595
APA		12,477		487,975
Baker Hughes, Cl A		9,283		234,489
Cheniere Energy		2,027		324,685
Chesapeake Energy		9,923		997,162
Chevron		30,778		4,864,771
ConocoPhillips		25,809		2,824,795
Continental Resources		13,224		923,432
Coterra Energy		25,334		783,074
Devon Energy		30,992		2,188,655
Diamondback Energy		5,824		776,223
DT Midstream		650		35,886
EOG Resources		10,721		1,300,457
EQT		2,836		135,561
Exxon Mobil		66,931		6,397,934
Halliburton		11,488		346,133
Hess		4,410		532,640

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
ENERGY — continued
Kinder Morgan		19,697	$	360,849
Marathon Oil		74,635		1,909,910
Marathon Petroleum		8,069		812,952
Occidental Petroleum		26,848		1,906,208
ONEOK		6,358		389,300
Ovintiv		2,815		149,589
Phillips 66		3,800		339,948
Pioneer Natural Resources		3,707		938,687
Schlumberger		12,157		463,790
Targa Resources		3,556		242,626
Texas Pacific Land		64		117,789
Valero Energy		4,179		489,444
Williams		10,560		359,357
				31,771,916

FINANCIALS — 7.1%
Aflac		6,002		356,639
Alleghany *		71		59,724
Allstate		5,636		679,138
Ally Financial		5,697		189,140
American Express		4,955		753,160
American Financial Group		1,501		191,648
American International Group		4,577		236,860
Ameriprise Financial		4,343		1,163,967
Aon, Cl A		2,737		764,335
Apollo Global Management		2,331		129,557
Arch Capital Group *		4,148		189,647
Ares Management, Cl A		1,108		82,147
Arthur J Gallagher		1,666		302,496
Assurant		1,928		305,569
Assured Guaranty		9,721		496,451
Bank of America		34,239		1,150,773
Bank of New York Mellon		6,027		250,301
Bank OZK		3,480		141,044
Berkshire Hathaway, Cl B *		8,577		2,408,422
BlackRock, Cl A		881		587,090
Blackstone, Cl A		3,114		292,529
Brown & Brown		4,375		275,800
Capital One Financial		3,001		317,566
Cboe Global Markets		1,155		136,255

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
FINANCIALS — continued
Charles Schwab		6,282	$	445,708
Chubb		3,748		708,559
Cincinnati Financial		1,700		164,832
Citigroup		9,203		449,198
Citizens Financial Group		4,500		165,060
CME Group, Cl A		1,526		298,501
CNA Financial		896		34,460
Comerica		11,111		892,213
Commerce Bancshares		2,527		173,782
Cullen		300		38,988
Discover Financial Services		4,201		422,159
East West Bancorp		16,434		1,186,042
Equitable Holdings		8,532		253,827
Erie Indemnity, Cl A		557		119,716
Everest Re Group		587		157,932
FactSet Research Systems		625		270,837
Fidelity National Financial		10,150		396,865
Fifth Third Bancorp		6,198		211,662
First American Financial		1,494		79,929
First Citizens BancShares, Cl A		239		194,058
First Horizon		2,717		61,459
First Republic Bank		1,491		226,378
Franklin Resources		3,098		80,765
Globe Life		1,266		123,043
Goldman Sachs Group		1,605		533,935
Hanover Insurance Group		746		96,525
Hartford Financial Services Group		3,671		236,082
Huntington Bancshares		13,524		181,222
Interactive Brokers Group, Cl A		500		30,795
Intercontinental Exchange		1,852		186,774
Jefferies Financial Group		1,907		61,196
JPMorgan Chase		19,994		2,273,918
KeyCorp		10,707		189,407
KKR		2,812		142,175
Lincoln National		213		9,811
Loews		2,777		153,596
LPL Financial Holdings		893		197,648
M&T Bank		1,264		229,770
Markel *		120		143,293
Marsh & McLennan		3,198		516,061
MetLife		9,397		604,509

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
FINANCIALS — continued
Moody's		923	$	262,612
Morgan Stanley		22,346		1,904,326
Morningstar		512		116,731
MSCI, Cl A		498		223,721
Nasdaq		8,031		478,085
Northern Trust		2,133		202,827
PNC Financial Services Group		1,806		285,348
Principal Financial Group		2,833		211,795
Progressive		6,618		811,698
Prudential Financial		3,417		327,178
Raymond James Financial		2,739		285,869
Regions Financial		54,159		1,173,625
Robinhood Markets, Cl A *		7,751		74,022
S&P Global		1,645		579,336
SEI Investments		2,552		139,594
Signature Bank NY		937		163,375
State Street		3,066		209,561
SVB Financial Group *		1,699		690,677
Synchrony Financial		5,791		189,655
T Rowe Price Group		2,853		342,360
Tradeweb Markets, Cl A		940		65,415
Travelers		3,616		584,490
Truist Financial		5,733		268,534
US Bancorp		7,900		360,319
Webster Financial		2,566		120,730
Wells Fargo		18,155		793,555
Western Alliance Bancorp		15,311		1,174,660
Willis Towers Watson		967		200,005
WR Berkley		8,746		566,741
Zions Bancorp		2,333		128,385
				37,338,177

HEALTH CARE — 9.6%
Abbott Laboratories		7,399		759,507
AbbVie		27,368		3,679,901
ABIOMED *		362		93,859
Agilent Technologies		2,087		267,658
Alnylam Pharmaceuticals *		673		139,089
AmerisourceBergen, Cl A		2,566		376,073
Amgen		6,068		1,458,140

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
HEALTH CARE — continued
Avantor *		4,274	$	106,465
Becton Dickinson		973		245,605
Biogen *		1,555		303,816
BioMarin Pharmaceutical *		1,333		118,904
Bio-Rad Laboratories, Cl A *		711		344,863
Bio-Techne		521		172,873
Boston Scientific *		4,427		178,452
Bristol-Myers Squibb		15,074		1,016,138
Bruker		3,769		211,064
Cardinal Health		4,539		320,998
Catalent *		1,113		97,944
Centene *		3,902		350,166
Charles River Laboratories International *		789		161,942
Cigna		2,708		767,583
Cooper		384		110,377
CVS Health		11,311		1,110,175
Danaher		5,558		1,500,160
DaVita *		2,294		195,655
DexCom *		1,310		107,695
Edwards Lifesciences *		3,582		322,738
Elevance Health		3,147		1,526,641
Eli Lilly		11,239		3,385,524
Enovis *		895		45,332
Gilead Sciences		10,332		655,772
HCA Healthcare		4,997		988,756
Henry Schein *		2,209		162,163
Hologic *		3,662		247,405
Horizon Therapeutics *		9,608		568,890
Humana		1,491		718,334
IDEXX Laboratories *		883		306,948
Incyte *		1,459		102,757
Insulet *		201		51,350
Intuitive Surgical *		816		167,884
IQVIA Holdings *		1,118		237,754
Jazz Pharmaceuticals *		876		135,973
Johnson & Johnson		17,326		2,795,377
Laboratory Corp of America Holdings		1,179		265,593
McKesson		7,017		2,575,239
Medtronic		5,926		521,014
Merck		46,060		3,931,682
Mettler-Toledo International *		275		333,427

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
HEALTH CARE — continued
Moderna *		4,091	$	541,117
Molina Healthcare *		2,627		886,271
Neurocrine Biosciences *		980		102,537
Novocure *		472		38,765
Organon		1,389		39,628
PerkinElmer		1,253		169,230
Pfizer		62,084		2,808,059
Quest Diagnostics		3,134		392,721
Regeneron Pharmaceuticals *		627		364,325
Repligen *		508		111,440
ResMed		2,170		477,226
Royalty Pharma, Cl A		2,289		95,703
Seagen *		699		107,849
STERIS		934		188,089
Stryker		1,096		224,899
Thermo Fisher Scientific		2,307		1,258,053
United Therapeutics *		2,503		567,230
UnitedHealth Group		9,866		5,123,710
Universal Health Services, Cl B	��	1,352		132,280
Veeva Systems, Cl A *		939		187,162
Vertex Pharmaceuticals *		1,412		397,845
Waters *		629		187,819
West Pharmaceutical Services		1,832		543,536
Zimmer Biomet Holdings		1,802		191,589
Zoetis, Cl A		4,865		761,518
				50,140,256

INDUSTRIALS — 7.4%
3M		4,882		607,077
A O Smith		2,094		118,206
Advanced Drainage Systems		211		28,633
AECOM		3,086		225,741
AGCO		3,452		375,267
Air Lease, Cl A		1,766		64,212
Allegion		1,516		144,172
AMERCO *		274		144,034
American Airlines Group *		10,957		142,331
AMETEK		2,718		326,595
Armstrong World Industries		1,486		124,809
Avis Budget Group *		542		90,720

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
INDUSTRIALS — continued
Boeing *		2,431	$	389,568
Booz Allen Hamilton Holding, Cl A		6,481		620,232
Builders FirstSource *		16,462		964,838
Carlisle		1,424		421,020
Carrier Global		8,783		343,591
Caterpillar		4,256		786,126
CH Robinson Worldwide		546		62,326
Cintas		1,824		742,076
Copart *		4,309		515,572
CoStar Group *		2,280		158,779
CSX		18,285		578,720
Cummins		4,666		1,004,916
Deere		2,423		885,001
Delta Air Lines *		6,402		198,910
Dover		5,664		707,773
Eaton		7,093		969,188
Emerson Electric		9,100		743,834
Equifax		822		155,152
Esab		895		36,776
Expeditors International of Washington		3,414		351,266
Fastenal		14,853		747,551
FedEx		1,232		259,718
Fortive		2,477		156,868
Generac Holdings *		745		164,205
General Dynamics		1,499		343,166
General Electric		5,339		392,096
Graco		2,579		164,643
HEICO		933		142,096
HEICO, Cl A		711		87,154
Honeywell International		3,508		664,240
Howmet Aerospace		8,692		307,958
Hubbell, Cl B		2,808		579,290
Huntington Ingalls Industries		492		113,288
IDEX		1,364		274,450
Illinois Tool Works		1,870		364,332
Ingersoll Rand		8,696		411,930
ITT		3,419		247,980
Jacobs Solutions		4,060		505,795
JB Hunt Transport Services		2,083		362,484
Johnson Controls International		6,565		355,429
Knight-Swift Transportation Holdings, Cl A		943		47,631

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
INDUSTRIALS — continued
L3Harris Technologies		1,401	$	319,694
Landstar System		1,983		290,767
Leidos Holdings		1,976		187,819
Lennox International		518		124,382
Lockheed Martin		5,401		2,269,014
Masco		6,042		307,357
Middleby *		240		34,517
Nordson		1,091		247,842
Norfolk Southern		2,433		591,535
Northrop Grumman		951		454,568
Old Dominion Freight Line		3,488		946,678
Otis Worldwide		2,931		211,677
Owens Corning		4,149		339,098
PACCAR		3,854		337,264
Parker-Hannifin		3,277		868,405
Pentair		2,567		114,232
Plug Power *		2,429		68,109
Quanta Services		6,611		934,134
Raytheon Technologies		6,888		618,198
Regal Beloit		3,694		508,257
Republic Services, Cl A		2,432		347,095
Robert Half International		3,102		238,761
Rockwell Automation		1,009		239,072
Rollins		3,031		102,327
Snap-on		1,903		414,588
Southwest Airlines *		6,046		221,888
Stanley Black & Decker		1,173		103,341
Textron		2,354		146,843
Timken		1,532		96,501
Toro		1,660		137,664
Trane Technologies		5,971		919,952
TransDigm Group *		367		220,343
TransUnion		2,364		174,629
Uber Technologies *		1,759		50,589
Union Pacific		5,383		1,208,537
United Airlines Holdings *		3,592		125,756
United Parcel Service, Cl B		4,807		935,010
United Rentals *		4,229		1,235,037
Verisk Analytics, Cl A		2,096		392,287
Wabtec		1,985		173,985
Waste Management		2,552		431,365

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
INDUSTRIALS — continued
Watsco		933	$	253,804
WillScot Mobile Mini Holdings *		2,899		116,366
WW Grainger		1,402		778,026
XPO Logistics *		2,390		125,284
Xylem		3,101		282,501
				38,964,863

INFORMATION TECHNOLOGY — 13.9%
Accenture, Cl A		6,813		1,965,278
Advanced Micro Devices *		6,860		582,208
Akamai Technologies *		2,595		234,277
Amdocs		2,590		221,367
Amphenol, Cl A		5,770		424,268
Analog Devices		2,288		346,701
ANSYS *		1,182		293,491
Apple		120,374		18,925,200
Applied Materials		16,635		1,564,854
Arista Networks *		2,648		317,442
Arrow Electronics *		2,061		216,013
Aspen Technology *		407		85,714
Atlassian, Cl A *		245		60,677
Autodesk *		948		191,250
Automatic Data Processing		2,924		714,655
Black Knight *		530		35,065
Broadcom		3,217		1,605,637
Broadridge Financial Solutions		2,917		499,303
Cadence Design Systems *		3,559		618,447
CDW		4,332		739,472
Ceridian HCM Holding *		1,677		100,016
Ciena *		2,493		126,495
Cisco Systems		24,635		1,101,677
Cognizant Technology Solutions, Cl A		4,719		298,099
Corning		6,629		227,507
Crowdstrike Holdings, Cl A *		183		33,418
Datadog, Cl A *		214		22,459
Dell Technologies, Cl C		4,547		174,105
Dropbox, Cl A *		4,271		91,357
Dynatrace *		2,582		98,581
Enphase Energy *		893		255,791
Entegris		7,693		729,912

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
INFORMATION TECHNOLOGY — continued
EPAM Systems *		1,035	$	441,427
F5 *		554		87,011
Fair Isaac *		607		272,786
Fidelity National Information Services		2,170		198,273
First Solar *		1,335		170,279
Fiserv *		2,422		245,082
FleetCor Technologies *		1,056		224,432
Flex *		3,296		58,702
Fortinet *		11,750		572,108
Gartner *		1,553		443,102
Genpact		1,489		69,953
Global Payments		460		57,146
Globant *		400		84,308
GoDaddy, Cl A *		974		73,849
Hewlett Packard Enterprise		13,622		185,259
HP		15,450		443,570
HubSpot *		117		39,434
International Business Machines		10,660		1,369,277
Intuit		1,571		678,326
Jabil		2,317		139,715
Jack Henry & Associates		1,186		227,949
Juniper Networks		1,789		50,843
Keysight Technologies *		5,333		874,025
KLA		3,706		1,275,346
Lam Research		3,249		1,422,770
Manhattan Associates *		1,125		158,918
Marvell Technology		4,925		230,589
Mastercard, Cl A		5,094		1,652,341
Microchip Technology		3,340		217,935
Micron Technology		6,875		388,644
Microsoft		47,747		12,484,408
MongoDB, Cl A *		114		36,806
Monolithic Power Systems		476		215,714
Motorola Solutions		1,813		441,302
NetApp		1,536		110,792
NortonLifeLock		10,521		237,669
NVIDIA		15,338		2,315,118
NXP Semiconductors		1,309		215,435
ON Semiconductor *		6,356		437,102
Oracle		7,636		566,210
Palantir Technologies, Cl A *		6,790		52,419

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
INFORMATION TECHNOLOGY — continued
Palo Alto Networks *		186	$	103,567
Paychex		2,969		366,196
Paycom Software *		690		242,328
Paylocity Holding *		364		87,724
PTC *		1,123		129,021
QUALCOMM		10,916		1,443,859
Roper Technologies		445		179,148
Seagate Technology Holdings		4,495		300,985
ServiceNow *		478		207,748
Snowflake, Cl A *		322		58,266
SolarEdge Technologies *		411		113,424
SS&C Technologies Holdings		2,241		124,958
Synopsys *		2,506		867,126
TD SYNNEX		3,864		372,026
Teledyne Technologies *		1,397		514,599
Teradyne		8,658		732,813
Texas Instruments		7,238		1,195,790
Trade Desk, Cl A *		810		50,787
Trimble *		2,367		149,713
Tyler Technologies *		233		86,562
Ubiquiti		1,157		359,121
VeriSign *		777		141,585
Visa, Cl A		9,141		1,816,408
VMware, Cl A *		814		94,448
Western Digital *		3,634		153,573
Wolfspeed *		1,341		152,163
Zebra Technologies, Cl A *		1,254		378,257
Zendesk *		446		34,239
Zscaler *		722		114,971
				72,938,515

MATERIALS — 2.6%
Air Products & Chemicals		140		35,343
Albemarle		3,508		940,004
Alcoa		12,351		611,127
Amcor		13,649		163,924
AptarGroup		607		62,406
Avery Dennison		1,415		259,822
Ball		2,024		112,959
Berry Global Group *		600		32,598

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
MATERIALS — continued
Celanese, Cl A		1,553	$	172,166
CF Industries Holdings		8,382		867,202
Chemours		10,730		361,923
Cleveland-Cliffs *		12,368		213,595
Corteva		6,938		426,201
Crown Holdings		7,956		720,734
Dow		10,340		527,340
DuPont de Nemours		3,291		183,111
Eastman Chemical		4,980		453,180
Ecolab		1,007		164,977
Element Solutions		4,689		87,544
FMC		1,130		122,130
Freeport-McMoRan		16,365		484,404
Graphic Packaging Holding		5,617		125,091
International Flavors & Fragrances		2,108		232,892
International Paper		5,853		243,602
LyondellBasell Industries, Cl A		6,571		545,393
Martin Marietta Materials		531		184,634
Mosaic		6,865		369,818
Newmont		2,236		92,481
Nucor		7,375		980,432
Olin		9,158		500,576
Packaging Corp of America		3,028		414,594
PPG Industries		2,282		289,768
Reliance Steel & Aluminum		3,588		674,472
RPM International		3,968		369,659
Sealed Air		854		45,954
Sherwin-Williams		2,387		554,023
Steel Dynamics		8,184		660,612
Valvoline		3,495		101,600
Vulcan Materials		1,187		197,624
Westlake		1,500		147,945
Westrock		4,381		177,825
				13,911,685

REAL ESTATE — 0.1%
CBRE Group, Cl A *		6,825		538,902
Jones Lang LaSalle *		313		54,149
Life Storage ^‡		589		74,950

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
REAL ESTATE — continued
Welltower ^‡		811	$	62,163
				730,164

UTILITIES — 2.4%
AES		5,821		148,144
Alliant Energy		1,852		113,046
Ameren		5,849		541,734
American Electric Power		2,485		248,997
American Water Works		1,226		182,000
Atmos Energy		1,670		189,345
Avangrid		659		32,555
CenterPoint Energy		5,209		164,240
CMS Energy		1,938		130,893
Consolidated Edison		30,761		3,006,580
Constellation Energy		2,197		179,253
Dominion Energy		3,249		265,768
DTE Energy		6,978		909,513
Duke Energy		2,844		304,052
Edison International		1,730		117,242
Entergy		1,355		156,232
Essential Utilities		3,319		163,129
Evergy		1,983		135,895
Eversource Energy		2,319		207,991
Exelon		6,592		289,455
FirstEnergy		3,669		145,109
IDACORP		2,260		246,882
National Fuel Gas		3,472		247,449
NextEra Energy		10,148		863,189
NiSource		5,185		153,009
NRG Energy		5,389		222,458
OGE Energy		1,561		63,283
PG&E *		11,383		140,352
Pinnacle West Capital		1,393		104,963
PPL		5,203		151,303
Public Service Enterprise Group		3,423		220,304
Sempra Energy		1,958		323,011
Southern		4,088		315,062
UGI		1,967		77,697
Vistra		9,173		227,032
WEC Energy Group		13,250		1,366,605

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
UTILITIES — continued
Xcel Energy		1,933	$	143,525
				12,497,297

				333,987,880
Total Common Stock
(Cost $257,730,275)				335,259,532
REGISTERED INVESTMENT COMPANIES — 34.7%

EQUITY FUNDS — 34.7%
AQR Large Cap Defensive Style Fund, Cl R6		558,527		15,041,134
DFA Real Estate Securities Portfolio, Cl I		672,564		28,698,289
DFA US Small Cap Portfolio, Cl I		509,118		20,598,917
DFA US Small Cap Value Portfolio, Cl I		298,474		12,126,990
DFA US Targeted Value Portfolio, Cl I		1,376,021		38,583,618
iShares MSCI USA Min Vol Factor ETF		531,376		37,982,756
Vanguard Small Cap Value ETF		25,295		4,047,706
Vanguard U.S. Quality Factor ETF		68,307		7,133,095
Vanguard U.S. Value Factor ETF		183,402		17,918,375
Total Registered Investment Companies
(Cost $130,834,416)				182,130,880
SHORT-TERM INVESTMENT — 1.3%

DWS Government Money Market Series, Institutional Shares, 2.260% (A)
(Cost $6,707,440)		6,707,440		6,707,440

Total Investments — 100.0%
(Cost $395,272,131)			$	524,097,852

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2022

A list of open total return swap agreements held by the Fund at August 31, 2022, is as follows:

Counterparty

Reference
Entity/
Obligation

Fund
Pays

Fund
Receives

Payment Frequency

Termination Date

Currency

Notional
Amount

Value

Net Unrealized
Depreciation

ReFlow

SPUSX NAV

SOFR +25 BPS

SPUSX

Annually

03/10/2023

USD

4,881,911

(333,679

)

(333,679

)

A list of open futures contracts held by the Fund at August 31, 2022, is as follows:

Type of Contract	Number of Contracts		Expiration Date		Notional Amount		Value		Unrealized Depreciation
Long Contracts
S&P 500 Index E-MINI		8		Sep-2022	$	1,650,022	$	1,582,600	$	(67,422	)

Percentages are based on Net Assets of $524,022,834.

*	Non-income producing security.
^‡	Real Estate Investment Trust
(A)	The rate reported is the 7-day effective yield as of August 31, 2022.

BPS— Basis Points

Cl — Class

ETF — Exchange-Traded Fund

MIN — Minimum

MSCI — Morgan Stanley Capital International

NASDAQ – National Association of Securities Dealers and Automated Quotations

NAV — Net Asset Value

S&P— Standard & Poor's

SOFR — Secured Overnight Financing Rate

SPUSX — Symmetry Panoramic US Equity Fund

USD — U.S. Dollar

VOL — Volatility

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2022

The following is a summary of the level of inputs used as of August 31, 2022, in valuing the Fund’s investments and other financial instruments carried at value:

Investments in Securities	Level 1			Level 2			Level 3		Total
Common Stock	$	335,259,532		$	–		$	–	$	335,259,532
Registered Investment Companies		182,130,880			–			–		182,130,880
Short-Term Investment		6,707,440			–			–		6,707,440
Total Investments in Securities	$	524,097,852		$	–		$	–	$	524,097,852

Other Financial Instruments	Level 1			Level 2			Level 3		Total
Futures Contract^
Unrealized Depreciation	$	(67,422	)	$	–		$	–	$	(67,422	)
Total Return Swap^
Unrealized Depreciation		–			(333,679	)		–		(333,679	)
Total Other Financial Instruments	$	(67,422	)	$	(333,679	)	$	–	$	(401,101	)

^ Futures contracts and swap contracts are valued at the unrealized appreciation (depreciation) on the instrument.

Amounts designated as “—” are $0.

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in the Notes to Financial Statements.

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2022

SECTOR WEIGHTINGS^† (UNAUDITED)

^† Percentages are based on total investments. Total investments do not include futures and swaps.

SCHEDULE OF INVESTMENTS
REGISTERED INVESTMENT COMPANIES — 67.9%
	Shares		Value
EQUITY FUNDS — 67.9%
AQR International Defensive Style Fund, Cl R6		678,066	$	8,469,039
Avantis Emerging Markets Equity ETF		284,000		14,645,880
Avantis International Equity ETF		91,878		4,653,621
Avantis International Small Cap Value ETF		114,505		6,089,376
DFA Emerging Markets Portfolio, Cl I		1,064,547		28,231,778
DFA Emerging Markets Small Cap Portfolio, Cl I		601,759		12,799,417
DFA Emerging Markets Targeted Value Portfolio, Cl I		269,560		2,800,733
DFA International High Relative Profitability Portfolio, Cl I		1,326,983		14,158,913
DFA International Real Estate Securities, Cl I		2,317,281		8,782,496
DFA International Small Cap Growth Portfolio, Cl I		141,917		1,918,721
DFA International Small Cap Value Portfolio, Cl I		746,592		13,304,271
DFA International Value Portfolio, Cl I		843,851		14,176,703
DFA Large Cap International Portfolio, Cl I		1,212,619		26,798,890
Dimensional Emerging Markets High Profitability		17,922		410,586
iShares MSCI EAFE Min Vol Factor ETF		147,848		9,172,490
iShares MSCI Emerging Markets Min Vol Factor ETF		199,745		10,938,036

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2022

REGISTERED INVESTMENT COMPANIES — continued
	Shares		Value
EQUITY FUNDS — continued
Schwab International Small Cap Equity ETF		74,825	$	2,352,498
Total Registered Investment Companies
(Cost $166,966,918)				179,703,448
COMMON STOCK — 28.6%

AUSTRALIA — 1.1%
BlueScope Steel		2,357		26,445
Coles Group		9,757		116,784
Commonwealth Bank of Australia		18,955		1,252,593
CSL		288		57,605
Fortescue Metals Group		30,993		385,169
Glencore		54,740		299,293
Goodman Group ^‡		1,325		17,620
Macquarie Group		1,553		185,822
Mineral Resources		767		32,680
REA Group		1,089		93,914
Rio Tinto		1,396		77,073
Sonic Healthcare		4,916		113,683
Wesfarmers		1,889		60,427
Woodside Energy Group		8,781		203,970
Woolworths Group		4,135		101,940
				3,025,018

BELGIUM — 0.0%
Elia Group		483		70,166

BRAZIL — 0.7%
Banco do Brasil		38,700		310,722
BB Seguridade Participacoes		69,800		381,576
Cia de Saneamento Basico do Estado de Sao Paulo ADR *		9,379		87,787
CPFL Energia		28,000		189,613
Engie Brasil Energia		14,300		111,901
Petro Rio *		11,100		58,355
Telefonica Brasil		28,500		230,251
Vale ADR, Cl B		16,032		199,117
WEG		8,000		43,518
Wheaton Precious Metals		1,709		52,167
Yara International		1,419		60,020
				1,725,027

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
CANADA — 3.0%
Agnico Eagle Mines		400	$	16,495
Alimentation Couche-Tard		1,961		84,272
Bank of Montreal		5,263		485,886
BCE		527		25,432
Canadian Imperial Bank of Commerce		7,776		367,737
Canadian National Railway		132		15,698
Canadian Natural Resources		16,979		930,817
Canadian Pacific Railway		5,030		376,556
Canadian Tire, Cl A		1,592		187,243
Cenovus Energy		32,912		617,468
CGI, Cl A *		292		23,122
Constellation Software		28		42,149
Dollarama		803		48,901
Empire		1,696		48,310
Fairfax Financial Holdings		451		224,835
George Weston		1,015		116,041
Hydro One		1,413		38,258
Imperial Oil		9,043		443,836
Intact Financial		1,902		275,521
Loblaw		5,025		444,095
Magna International		471		27,209
National Bank of Canada		6,172		408,334
Nutrien		1,653		151,751
Open Text		420		13,230
Ritchie Bros Auctioneers		1,530		105,988
Royal Bank of Canada		7,548		701,898
Sun Life Financial		5,631		248,075
Suncor Energy		3,334		107,863
Teck Resources, Cl B		5,682		192,435
Toromont Industries		430		33,284
Toronto-Dominion Bank		4,037		259,707
Tourmaline Oil		6,979		412,624
West Fraser Timber		3,909		349,722
WSP Global		1,891		225,348
				8,050,140

CHILE — 0.0%
Antofagasta		7,299		92,871

CHINA — 3.7%
Agricultural Bank of China, Cl A		35,800		14,785

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
CHINA — continued
Agricultural Bank of China, Cl H		1,648,000	$	538,503
Airtac International Group		1,046		28,047
Anhui Conch Cement, Cl A		4,300		19,854
Bank of Beijing, Cl A		31,100		18,603
Bank of China, Cl A		32,800		14,447
Bank of Communications, Cl A		25,400		16,849
Bank of Communications, Cl H		553,000		315,082
Bank of Ningbo, Cl A		6,868		29,584
Bank of Shanghai, Cl A		15,700		13,435
Baoshan Iron & Steel, Cl A		58,500		45,102
BOE Technology Group, Cl A		66,100		35,358
Bosideng International Holdings		52,000		29,198
BYD, Cl A		1,100		45,592
BYD, Cl H		17,000		523,861
BYD Electronic International		14,000		36,990
China CITIC Bank, Cl H		381,000		163,339
China Coal Energy, Cl H		304,000		270,337
China Construction Bank, Cl H		764,000		472,292
China Everbright Bank, Cl A		35,600		14,793
China Hongqiao Group		119,000		115,390
China Longyuan Power Group, Cl H		127,000		205,126
China Merchants Bank, Cl A		7,100		35,930
China Merchants Bank, Cl H		54,500		278,719
China Merchants Port Holdings		28,000		42,036
China Merchants Securities, Cl A		9,800		18,786
China Merchants Shekou Industrial Zone Holdings, Cl A		16,600		35,097
China Minsheng Banking, Cl A		28,800		15,021
China National Building Material, Cl H		62,000		58,545
China Overseas Land & Investment		80,500		216,341
China Pacific Insurance Group, Cl A		7,600		23,021
China Petroleum & Chemical, Cl A		93,900		58,141
China Petroleum & Chemical, Cl H		638,000		300,017
China Resources Beer Holdings		2,000		13,942
China Resources Land		26,000		106,450
China Resources Power Holdings		62,000		123,277
China Shenhua Energy, Cl H		191,500		600,596
China State Construction Engineering, Cl A		42,200		31,402
China State Construction International Holdings		52,000		60,042
China Tourism Group Duty Free, Cl A		1,900		53,682
China Vanke, Cl A		7,800		18,788
China Yangtze Power, Cl A		31,100		107,921

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
CHINA — continued
CITIC		135,000	$	139,169
CITIC Securities, Cl A		12,650		35,656
COSCO SHIPPING Holdings, Cl H		159,700		238,410
ENN Energy Holdings		1,600		23,244
Foshan Haitian Flavouring & Food, Cl A		3,260		38,005
Great Wall Motor, Cl H		82,500		123,777
Greentown China Holdings		46,000		86,792
Guotai Junan Securities, Cl A		17,100		36,552
Haier Smart Home, Cl A		10,242		38,241
Haitong Securities, Cl A		21,000		28,772
Huatai Securities, Cl A		12,200		23,159
Huaxia Bank, Cl A		24,900		18,532
Industrial & Commercial Bank of China, Cl A		19,500		12,374
Industrial & Commercial Bank of China, Cl H		1,363,000		692,463
Industrial Bank, Cl A		7,500		18,537
Inner Mongolia Yili Industrial Group, Cl A		7,400		38,295
Jiangsu Hengrui Medicine, Cl A		5,904		29,589
Jiangsu Yanghe Brewery Joint-Stock, Cl A		1,200		28,521
Kweichow Moutai, Cl A		500		139,265
Li Ning		58,000		528,282
Longfor Group Holdings		9,500		30,835
Luxshare Precision Industry, Cl A		10,769		58,303
Luzhou Laojiao, Cl A		1,900		64,352
Midea Group, Cl A		2,800		21,483
NARI Technology, Cl A		10,224		40,499
New China Life Insurance, Cl A		3,200		13,325
People's Insurance Group of China, Cl H		234,000		72,321
PetroChina, Cl A		60,600		47,044
PetroChina, Cl H		1,006,000		467,808
PICC Property & Casualty, Cl H		258,000		279,061
Ping An Bank, Cl A		9,600		17,679
Ping An Insurance Group of China, Cl A		4,400		27,858
Poly Developments and Holdings Group, Cl A		15,100		37,805
Postal Savings Bank of China, Cl H		405,000		241,774
SAIC Motor, Cl A		9,100		20,328
Sany Heavy Industry, Cl A		13,100		29,802
Shanghai Pudong Development Bank, Cl A		12,100		12,734
Shenwan Hongyuan Group, Cl A		35,300		21,332
Tingyi Cayman Islands Holding		12,000		21,309
Tsingtao Brewery, Cl H		10,000		97,110
Wuliangye Yibin, Cl A		1,500		36,218
Yankuang Energy Group, Cl H		98,000		387,924

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
CHINA — continued
Zhongsheng Group Holdings		29,000	$	137,123
				9,665,983

DENMARK — 0.5%
AP Moller - Maersk, Cl B		91		218,323
Danske Bank *		7,431		99,225
DSV Panalpina		1,311		193,724
Novo Nordisk, Cl B		4,693		501,747
Orsted		161		15,714
Pandora		2,634		158,242
Vestas Wind Systems		2,465		61,677
				1,248,652

FINLAND — 0.4%
Elisa		6,364		340,337
Neste		972		47,956
Nokia		10,484		52,833
Nordea Bank Abp		38,019		352,507
Stora Enso, Cl R		10,404		154,874
UPM-Kymmene		1,778		60,406
				1,008,913

FRANCE — 1.0%
Air Liquide		1,166		146,115
Arkema		217		18,320
Capgemini		162		27,990
Cie de Saint-Gobain		316		12,728
Dassault Systemes		1,885		72,692
EssilorLuxottica		971		144,619
Hermes International		135		172,904
Kering		58		29,102
L'Oreal		162		55,638
LVMH Moet Hennessy Louis Vuitton		119		76,787
Orange		141,361		1,431,623
Sartorius Stedim Biotech		542		198,244
Teleperformance		348		99,113
TotalEnergies		5,786		292,945
				2,778,820

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
GERMANY — 0.3%
Brenntag		1,896	$	124,316
Carl Zeiss Meditec		1,014		126,202
Deutsche Boerse		408		68,983
Deutsche Post		1,233		45,004
GEA Group		2,509		87,280
Hannover Rueck		1,042		153,577
Merck KGaA		608		104,443
Puma		399		24,388
Siemens Energy		2,099		30,875
Volkswagen		132		24,416
				789,484

HONG KONG — 0.1%
Orient Overseas International		6,000		167,250
Techtronic Industries		6,000		70,765
Wharf Real Estate Investment		5,000		22,751
				260,766

HUNGARY — 0.1%
MOL Hungarian Oil & Gas		22,647		156,046

INDONESIA — 1.1%
Adaro Energy Indonesia		1,740,600		414,954
Astra International		58,900		27,637
Bank Central Asia		706,900		390,366
Bank Mandiri Persero		585,500		348,422
Bank Negara Indonesia Persero		368,200		211,187
Bank Rakyat Indonesia Persero		778,400		227,315
Indah Kiat Pulp & Paper		65,200		36,522
Indofood Sukses Makmur		412,100		172,882
Merdeka Copper Gold *		41,300		11,877
Sumber Alfaria Trijaya		867,100		127,257
Telkom Indonesia Persero		1,026,300		314,285
United Tractors		190,000		432,643
Vale Indonesia *		173,400		71,072
				2,786,419

ITALY — 0.1%
Ferrari		455		88,570

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
ITALY — continued
Prysmian		4,988	$	153,047
				241,617

JAPAN — 5.9%
Advantest		3,200		181,233
Ajinomoto		6,000		165,839
Bandai Namco Holdings		2,700		202,599
Bridgestone		1,900		72,911
Chiba Bank		34,200		184,743
Chugai Pharmaceutical		5,700		147,106
Concordia Financial Group		20,400		64,693
Daiichi Sankyo		5,700		171,295
Daikin Industries		1,200		209,481
Daito Trust Construction		500		49,189
Denso		1,500		81,871
Disco		300		72,843
ENEOS Holdings		116,900		441,757
Fuji Electric		600		25,921
FUJIFILM Holdings		3,700		187,837
Fujitsu		1,800		211,812
Hamamatsu Photonics		700		29,679
Hitachi		1,800		89,932
Hitachi Metals *		3,900		58,682
Honda Motor		9,100		242,263
Hoya		3,800		387,512
Idemitsu Kosan		600		15,820
Inpex		21,500		247,134
Isuzu Motors		2,600		32,291
ITOCHU		12,100		333,001
Japan Post Bank		46,800		341,146
Japan Post Holdings		38,700		266,983
Japan Post Insurance		28,900		442,679
Japan Tobacco		21,000		355,812
JFE Holdings		9,700		104,212
JSR		5,800		129,380
Kajima		2,800		29,463
KDDI		1,800		55,082
Kurita Water Industries		1,600		62,252
Marubeni		6,800		70,872
Medipal Holdings		2,300		31,468
Minebea Mitsumi		5,400		92,810
Mitsubishi		1,700		55,659

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
JAPAN — continued
Mitsubishi Estate		1,300	$	17,507
Mitsubishi Gas Chemical		1,300		19,323
Mitsubishi HC Capital		16,600		80,448
Mitsubishi Heavy Industries		1,400		53,971
Mitsubishi UFJ Financial Group		19,600		101,605
Mitsui		6,000		140,815
Mitsui Fudosan		6,400		129,540
MS&AD Insurance Group Holdings		2,900		86,524
Murata Manufacturing		4,600		247,694
NGK Insulators		4,100		58,538
Nintendo		300		122,804
Nippon Sanso Holdings		2,500		45,468
Nippon Steel		9,800		154,802
Nippon Telegraph & Telephone		13,400		363,197
Nippon Yusen		8,600		655,958
Nissin Foods Holdings		3,400		243,258
Nitto Denko		1,700		104,776
Nomura Real Estate Holdings		7,500		184,259
Nomura Research Institute		7,800		209,928
Obayashi		5,500		38,041
Olympus		1,700		36,205
Omron		2,000		105,253
Ono Pharmaceutical		5,600		133,673
Oriental Land		200		29,818
ORIX		15,600		256,423
Osaka Gas		30,200		508,671
Otsuka Holdings		1,200		39,195
Panasonic Holdings		7,900		64,104
Recruit Holdings		1,800		57,223
Renesas Electronics *		9,400		89,004
Resona Holdings		65,400		240,754
Rinnai		800		61,267
Rohm		300		22,445
Sekisui Chemical		2,300		31,357
Sekisui House		3,300		56,115
Seven & i Holdings		5,400		214,518
SG Holdings		2,400		39,808
Shimadzu		600		17,524
Shimano		200		35,382
Shin-Etsu Chemical		2,900		336,785
Shionogi		600		29,295
SMC		100		47,443

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
JAPAN — continued
Softbank		12,100	$	132,655
Sompo Holdings		1,100		47,164
Sony		4,500		357,765
Sumitomo Mitsui Financial Group		38,300		1,155,253
Sumitomo Mitsui Trust Holdings		3,100		96,420
Suntory Beverage & Food		8,900		325,087
Taisei		2,700		81,863
Takeda Pharmaceutical		5,500		152,020
TDK		3,300		115,375
Tokyo Electric Power Holdings *		6,600		25,776
Tokyo Electron		1,300		407,728
Tokyo Gas		28,000		525,314
Tosoh		1,200		15,516
Toyo Suisan Kaisha		2,400		98,447
Toyota Industries		400		22,357
Toyota Motor		29,400		439,973
Unicharm		600		20,851
Yakult Honsha		3,900		230,668
Z Holdings		12,400		36,454
				15,742,666

MALAYSIA — 0.5%
AMMB Holdings		107,800		100,195
CIMB Group Holdings		98,600		117,913
Hong Leong Bank		77,100		358,865
Hong Leong Financial Group		13,800		59,653
Malayan Banking		143,800		287,672
Petronas Gas		38,000		146,851
RHB Bank		173,500		221,695
Sime Darby Plantation		36,500		36,281
Telekom Malaysia		63,100		83,884
				1,413,009

MEXICO — 0.6%
America Movil ADR, Cl L		22,738		386,546
Arca Continental		28,200		190,870
Coca-Cola Femsa ADR		1,429		87,498
Gruma, Cl B		5,675		62,042
Grupo Aeroportuario del Pacifico, Cl B		3,200		45,732
Grupo Aeroportuario del Sureste ADR		334		70,631
Grupo Bimbo, Ser A		60,900		205,161

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
MEXICO — continued
Grupo Carso		32,200	$	110,522
Grupo Financiero Inbursa, Cl O *		153,100		239,835
Grupo Mexico		24,500		92,301
Wal-Mart de Mexico		41,600		136,323
				1,627,461

NETHERLANDS — 0.8%
ASML Holding		1,776		866,897
Koninklijke Ahold Delhaize		24,830		682,997
Koninklijke DSM		888		113,234
NN Group		6,213		255,343
Wolters Kluwer		1,621		158,523
				2,076,994

NORWAY — 0.8%
Equinor		44,232		1,716,673
Gjensidige Forsikring		3,062		62,135
Norsk Hydro		45,417		312,065
				2,090,873

PERU — 0.1%
Southern Copper		4,169		196,235

PHILIPPINES — 0.1%
Globe Telecom		1,435		53,542
Manila Electric		6,450		34,544
Metropolitan Bank & Trust		34,020		31,796
PLDT		4,250		126,683
				246,565

POLAND — 0.0%
Dino Polska *		283		20,646
Polskie Gornictwo Naftowe i Gazownictwo *		43,388		51,542
				72,188

PORTUGAL — 0.0%
Jeronimo Martins SGPS		1,645		36,473

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
RUSSIA — 0.0%
Evraz *⁽¹⁾		29,556	$	—

SINGAPORE — 0.1%
Singapore Telecommunications		66,300		124,469
STMicroelectronics		2,589		90,228
United Overseas Bank		1,100		21,449
Venture		1,400		18,291
				254,437

SOUTH AFRICA — 0.8%
Absa Group		27,154		281,238
Anglo American		9,271		297,918
Anglo American Platinum		2,463		171,941
Aspen Pharmacare Holdings		1,620		13,903
Bidvest Group		2,977		37,292
Capitec Bank Holdings		526		62,544
Clicks Group		1,125		19,560
Exxaro Resources		8,521		108,560
FirstRand		6,672		24,921
Gold Fields ADR		6,357		51,428
Impala Platinum Holdings		5,160		54,068
Kumba Iron Ore		407		9,011
MTN Group		29,789		215,614
Nedbank Group		11,236		132,624
Sasol		14,249		274,046
Shoprite Holdings		11,171		151,479
Sibanye Stillwater		68,981		154,105
Standard Bank Group		3,440		30,697
Vodacom Group		18,899		139,109
				2,230,058

SOUTH KOREA — 1.1%
DB Insurance		5,774		257,138
Hana Financial Group		1,957		57,040
Hyundai Glovis		210		27,516
Industrial Bank of Korea		69,778		496,842
Kakao		620		33,668
KB Financial Group		4,476		164,309
Kia		5,045		302,386
Korea Investment Holdings		498		20,998
Korea Zinc		321		160,573

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
SOUTH KOREA — continued
KT&G		1,701	$	105,662
Kumho Petrochemical		747		72,053
LG Electronics		128		9,578
LG Innotek		1,132		288,160
Meritz Financial Group		2,474		56,705
Meritz Fire & Marine Insurance		4,599		131,304
Meritz Securities		5,652		20,370
NAVER		866		153,669
Samsung Electronics		7,778		344,571
Samsung Engineering *		1,742		30,288
Samsung Securities		1,240		31,217
SK Telecom		3,396		131,753
Woori Financial Group		3,671		33,208
				2,929,008

SPAIN — 0.3%
CaixaBank		110,550		333,807
Enagas		1,186		21,657
Iberdrola		24,820		258,420
Repsol		21,489		279,102
				892,986

SWEDEN — 0.5%
Alfa Laval		4,917		131,124
Atlas Copco, Cl A		32,712		332,061
Epiroc, Cl A		4,036		61,754
EQT		1,898		42,511
Investor, Cl B		11,172		176,084
L E Lundbergforetagen, Cl B		1,472		60,795
Nibe Industrier, Cl B		25,240		236,366
Skandinaviska Enskilda Banken, Cl A		15,724		156,748
Svenska Cellulosa SCA, Cl B		2,539		38,043
Svenska Handelsbanken, Cl A		7,147		58,535
				1,294,021

SWITZERLAND — 0.5%
Chocoladefabriken Lindt & Spruengli		7		74,034
EMS-Chemie Holding		88		61,797
Kuehne + Nagel International		1,107		255,840
Lonza Group		195		103,997

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
SWITZERLAND — continued
Partners Group Holding		42	$	40,541
Sika		797		179,321
Sonova Holding		421		110,922
Straumann Holding		190		20,821
Swiss Life Holding		127		66,380
Zurich Insurance Group		1,088		482,963
				1,396,616

TAIWAN — 2.0%
Accton Technology		15,000		138,129
Acer		39,000		28,011
Advantech		9,898		105,592
ASE Technology Holding		20,000		55,640
Asia Cement		92,000		130,238
Asustek Computer		8,000		66,568
Cathay Financial Holding		67,000		97,473
Chailease Holding		26,496		170,123
Chunghwa Telecom		74,000		293,639
Compal Electronics		18,000		13,402
CTBC Financial Holding		75,000		57,447
Delta Electronics		8,000		68,493
E.Sun Financial Holding		250,953		231,231
Eva Airways		20,000		21,887
Evergreen Marine Taiwan		54,000		154,749
Far EasTone Telecommunications		70,000		171,679
Fubon Financial Holding		57,182		107,219
Hon Hai Precision Industry		81,000		288,423
Inventec		15,000		11,356
Lite-On Technology		70,000		150,642
MediaTek		7,000		151,457
Mega Financial Holding		55,350		64,921
Micro-Star International		32,000		119,796
Novatek Microelectronics		27,000		230,993
Quanta Computer		5,000		12,962
Realtek Semiconductor		22,000		247,207
SinoPac Financial Holdings		121,200		68,710
Synnex Technology International		54,000		98,430
Taishin Financial Holding		199,813		99,173
Taiwan Cement		128,166		164,987
Taiwan Cooperative Financial Holding		147,225		132,958
Taiwan Semiconductor Manufacturing ADR		9,091		757,735
United Microelectronics		310,000		412,445

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
TAIWAN — continued
Yuanta Financial Holding		183,175	$	121,591
Zhen Ding Technology Holding		36,000		133,603
				5,178,909

THAILAND — 0.3%
Advanced Info Service NVDR		10,300		54,190
Bumrungrad Hospital NVDR		21,000		124,346
Indorama Ventures NVDR		23,700		28,068
Krung Thai Bank NVDR		264,600		122,344
PTT Exploration & Production NVDR		99,400		459,728
				788,676

TURKEY — 0.2%
Eregli Demir ve Celik Fabrikalari		11,460		18,109
Ford Otomotiv Sanayi		4,511		81,965
Haci Omer Sabanci Holding		240,570		336,063
Turk Hava Yollari AO *		3,202		12,842
Turkiye Is Bankasi, Cl C		223,514		96,820
Turkiye Petrol Rafinerileri *		1,146		22,595
				568,394

UNITED KINGDOM — 1.5%
Ashtead Group		6,149		302,086
AstraZeneca		170		21,028
Auto Trader Group		4,696		35,458
BAE Systems		12,804		115,314
BP		112,727		576,025
British American Tobacco		21,156		847,353
Croda International		450		35,075
Experian		5,803		176,094
Halma		3,871		93,117
HSBC Holdings		13,051		79,961
Imperial Brands		10,683		234,938
JD Sports Fashion		74,930		98,010
Legal & General Group		75,485		221,100
Next		816		54,951
Shell		33,360		882,971
Spirax-Sarco Engineering		369		45,046
SSE		1,149		22,018

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED KINGDOM — continued
United Utilities Group		2,190	$	26,841
				3,867,386

UNITED STATES — 0.3%
CONSUMER STAPLES — 0.0%
JBS		19,500		110,911

ENERGY — 0.1%
Tenaris		11,856		162,185

INDUSTRIALS — 0.2%
Schneider Electric		4,005		476,026

				749,122
ZAMBIA — 0.1%
First Quantum Minerals		7,784		137,739

Total Common Stock
(Cost $62,336,703)				75,689,738
PREFERRED STOCK — 0.3%

BRAZIL — 0.3%
Cia Energetica de Minas Gerais⁽²⁾		44,249		103,427
Petroleo Brasileiro⁽²⁾		133,300		851,701

Total Preferred Stock
(Cost $722,106)				955,128
SHORT-TERM INVESTMENT — 3.0%

DWS Government Money Market Series, Institutional Shares, 2.260% (A)
(Cost $8,016,179)		8,016,179		8,016,179

Total Investments — 99.8%
(Cost $238,041,906)			$	264,364,493

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2022

A list of open futures contracts held by the Fund at August 31, 2022, is as follows:

Type of Contract	Number of Contracts		Expiration Date		Notional Amount		Value		Unrealized Depreciation
Long Contracts
MSCI EAFE Index		23		Sep-2022	$	2,136,631	$	2,101,165	$	(35,466	)
SGX Nifty 50		93		Sep-2022		3,272,530		3,256,860		(15,670	)
					$	5,409,161	$	5,358,025	$	(51,136	)

A list of open total return swap agreements held by the Fund at August 31, 2022, is as follows:

Counterparty

Reference
Entity/
Obligation

Fund
Pays

Fund
Receives

Payment Frequency

Termination Date

Currency

Notional
Amount

Value

Net Unrealized
Depreciation

ReFlow

SPILX NAV

SOFR +35 BPS

SPILX

Annually

03/10/2023

USD

2,982,202

(402,192

)

(402,192

)

Percentages are based on Net Assets of $264,784,660.

^‡	Real Estate Investment Trust
*	Non-income producing security.
(1)	Level 3 security in accordance with fair value hierarchy.
(2)	No Interest Rate Available.
(A)	The rate reported is the 7-day effective yield as of August 31, 2022.

ADR — American Depositary Receipt

BPS— Basis Points

Cl — Class

EAFE — Europe, Australasia and Far East

ETF — Exchange-Traded Fund

MIN — Minimum

MSCI — Morgan Stanley Capital International

NAV — Net Asset Value

NVDR — Non-Voting Depositary Receipt

Ser — Series

SGX — Singapore Exchange

SOFR — Secured Overnight Financing Rate

SPILX — Symmetry Panoramic International Equity Fund

USD — U.S. Dollar

VOL — Volatility

The following is a summary of the level of inputs used as of August 31, 2022, in valuing the Fund’s investments and other financial instruments carried at value:

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2022

Investments in Securities	Level 1			Level 2		Level 3			Total
Registered Investment Companies	$	179,703,448		$	–	$	–		$	179,703,448
Common Stock
Australia		–			3,025,018		–			3,025,018
Belgium		–			70,166		–			70,166
Brazil		1,665,007			60,020		–			1,725,027
Canada		8,050,140			–		–			8,050,140
Chile		–			92,871		–			92,871
China		–			9,665,983		–			9,665,983
Denmark		–			1,248,652		–			1,248,652
Finland		–			1,008,913		–			1,008,913
France		–			2,778,820		–			2,778,820
Germany		–			789,484		–			789,484
Hong Kong		–			260,766		–			260,766
Hungary		–			156,046		–			156,046
Indonesia		–			2,786,419		–			2,786,419
Italy		88,570			153,047		–			241,617
Japan		–			15,742,666		–			15,742,666
Malaysia		–			1,413,009		–			1,413,009
Mexico		1,627,461			–		–			1,627,461
Netherlands		–			2,076,994		–			2,076,994
Norway		–			2,090,873		–			2,090,873
Peru		196,235			–		–			196,235
Philippines		–			246,565		–			246,565
Poland		–			72,188		–			72,188
Portugal		–			36,473		–			36,473
Russia		–			–		–	⁽¹⁾		–
Singapore		–			254,437		–			254,437
South Africa		51,428			2,178,630		–			2,230,058
South Korea		–			2,929,008		–			2,929,008
Spain		–			892,986		–			892,986
Sweden		–			1,294,021		–			1,294,021
Switzerland		–			1,396,616		–			1,396,616
Taiwan		757,735			4,421,174		–			5,178,909
Thailand		–			788,676		–			788,676
Turkey		–			568,394		–			568,394
United Kingdom		–			3,867,386		–			3,867,386
United States		110,911			638,211		–			749,122
Zambia		137,739			–		–			137,739
Total Common Stock		12,685,226			63,004,512		–			75,689,738
Preferred Stock
Brazil		955,128			–		–			955,128
Short-Term Investment		8,016,179			–		–			8,016,179
Total Investments in Securities	$	201,359,981		$	63,004,512	$	–		$	264,364,493

Other Financial Instruments	Level 1			Level 2		Level 3			Total
Futures Contracts^
Unrealized Depreciation	$	(51,136	)	$	–	$	–		$	(51,136	)

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2022

Other Financial Instruments	Level 1			Level 2			Level 3		Total
Total Return Swap^
Unrealized Depreciation	$	–		$	(402,192	)	$	–	$	(402,192	)
Total Other Financial Instruments	$	(51,136	)	$	(402,192	)	$	–	$	(453,328	)

(1) For the year ended August 31, 2022, there were no significant changes into/out of Level 3. The transfer into Level 3 investments for the Fund was immaterial, although the unrealized appreciation/(depreciation) on this investment was $(196,996). This security was impacted by the invasion of Ukraine and sanctions on market conditions in Russia. From the start of the conflict in Ukraine until August 31, 2022, Russian-held investments were valued at an approximately 100 percent discount from their last traded prices.

^ Futures contracts and swap contracts are valued at the unrealized depreciation on the instrument.

Amounts designated as “—” are $0.

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in the Notes to Financial Statements.

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

SECTOR WEIGHTINGS^† (UNAUDITED)

^†	Percentages are based on total investments. Total investments do not include futures and swaps.

SCHEDULE OF INVESTMENTS
COMMON STOCK — 48.9%
	Shares		Value
AUSTRALIA — 0.5%
Ampol		475	$	11,165
BlueScope Steel		1,841		20,656
Coles Group		12,363		147,975
Commonwealth Bank of Australia		14,646		967,844
CSL		245		49,004
Fortescue Metals Group		24,313		302,152
Glencore		52,559		287,369
Macquarie Group		989		118,338
Mineral Resources		370		15,765
REA Group		734		63,299
Rio Tinto		1,058		58,412
Sonic Healthcare		2,856		66,045
Wesfarmers		1,077		34,452
Woodside Energy Group		8,737		202,948
Woolworths Group		2,634		64,936
				2,410,360

AUSTRIA — 0.0%
Verbund		222		21,214

BELGIUM — 0.0%
Elia Group		295		42,855

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
BRAZIL — 0.3%
Banco do Brasil		30,600	$	245,687
BB Seguridade Participacoes		48,500		265,135
Cia de Saneamento Basico do Estado de Sao Paulo *		6,800		64,244
CPFL Energia		17,800		120,539
Engie Brasil Energia		14,500		113,466
Petro Rio *		9,600		50,469
Telefonica Brasil		25,200		203,590
TIM *		6,600		15,109
Vale ADR, Cl B		13,257		164,652
Wheaton Precious Metals		1,224		37,363
Yara International		1,579		66,788
				1,347,042

CANADA — 1.3%
Agnico Eagle Mines		287		11,835
Alimentation Couche-Tard		1,195		51,354
Bank of Montreal		3,975		366,977
BCE		1,146		55,304
Canadian Imperial Bank of Commerce		5,854		276,843
Canadian Natural Resources		13,548		742,724
Canadian Pacific Railway		4,030		301,694
Canadian Tire, Cl A		1,305		153,488
Cenovus Energy		25,153		471,900
CGI, Cl A *		253		20,034
Constellation Software		22		33,117
Dollarama		718		43,725
Empire		1,438		40,961
Fairfax Financial Holdings		352		175,481
George Weston		578		66,080
Hydro One		1,426		38,610
Imperial Oil		6,944		340,816
Intact Financial		1,593		230,760
Loblaw		2,640		233,315
Magna International		271		15,655
National Bank of Canada		4,302		284,616
Nutrien		1,825		167,541
Pembina Pipeline		323		11,407
Ritchie Bros Auctioneers		1,078		74,677
Royal Bank of Canada		5,925		550,973
Sun Life Financial		4,065		179,085

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
CANADA — continued
Suncor Energy		2,174	$	70,334
Teck Resources, Cl B		5,069		171,675
Toromont Industries		171		13,236
Toronto-Dominion Bank		4,412		283,831
Tourmaline Oil		6,099		360,595
West Fraser Timber		2,048		183,226
WSP Global		1,366		162,784
				6,184,653

CHILE — 0.0%
Antofagasta		5,161		65,668

CHINA — 1.5%
Agricultural Bank of China, Cl A		44,800		18,502
Agricultural Bank of China, Cl H		1,219,000		398,323
Airtac International Group		1,046		28,047
Anhui Conch Cement, Cl A		3,288		15,182
Bank of Beijing, Cl A		26,800		16,031
Bank of China, Cl A		31,200		13,743
Bank of Communications, Cl A		23,300		15,456
Bank of Communications, Cl H		416,000		237,024
Bank of Ningbo, Cl A		4,340		18,695
Bank of Shanghai, Cl A		12,297		10,523
Baoshan Iron & Steel, Cl A		43,800		33,769
BOE Technology Group, Cl A		49,300		26,372
Bosideng International Holdings		46,000		25,829
BYD, Cl A		900		37,303
BYD, Cl H		12,500		385,192
BYD Electronic International		11,000		29,063
China CITIC Bank, Cl H		275,000		117,895
China Coal Energy, Cl H		215,000		191,193
China Construction Bank, Cl H		574,000		354,837
China Everbright Bank, Cl A		30,400		12,632
China Hongqiao Group		94,000		91,148
China Longyuan Power Group, Cl H		87,000		140,519
China Merchants Bank, Cl A		5,100		25,809
China Merchants Bank, Cl H		44,000		225,021
China Merchants Port Holdings		20,000		30,025
China Merchants Securities, Cl A		5,500		10,543
China Merchants Shekou Industrial Zone Holdings, Cl A		15,700		33,194

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
CHINA — continued
China Minsheng Banking, Cl A		24,100	$	12,570
China National Building Material, Cl H		42,000		39,659
China Overseas Land & Investment		61,000		163,936
China Pacific Insurance Group, Cl A		3,700		11,208
China Petroleum & Chemical, Cl A		89,300		55,293
China Petroleum & Chemical, Cl H		518,000		243,587
China Resources Beer Holdings		2,000		13,942
China Resources Land		18,000		73,696
China Resources Power Holdings		48,000		95,440
China Shenhua Energy, Cl H		151,000		473,577
China State Construction Engineering, Cl A		21,200		15,775
China State Construction International Holdings		44,000		50,805
China Tourism Group Duty Free, Cl A		1,400		39,555
China Vanke, Cl A		6,100		14,693
China Yangtze Power, Cl A		34,600		120,066
CITIC		104,000		107,211
CITIC Securities, Cl A		8,035		22,648
COSCO SHIPPING Holdings, Cl H		142,250		212,360
Dongyue Group		8,000		8,979
ENN Energy Holdings		800		11,622
Foshan Haitian Flavouring & Food, Cl A		2,574		30,007
Great Wall Motor, Cl H		60,500		90,770
Greentown China Holdings		34,000		64,151
Guotai Junan Securities, Cl A		7,677		16,410
Haier Smart Home, Cl A		7,541		28,156
Haitong Securities, Cl A		11,400		15,619
Huatai Securities, Cl A		7,100		13,478
Huaxia Bank, Cl A		20,800		15,481
Industrial & Commercial Bank of China, Cl A		16,300		10,344
Industrial & Commercial Bank of China, Cl H		1,033,000		524,809
Industrial Bank, Cl A		5,400		13,346
Inner Mongolia Yili Industrial Group, Cl A		4,100		21,217
Jiangsu Hengrui Medicine, Cl A		4,320		21,651
Jiangsu Yanghe Brewery Joint-Stock, Cl A		900		21,391
Kweichow Moutai, Cl A		400		111,412
Li Ning		44,500		405,320
Longfor Group Holdings		7,500		24,343
Luxshare Precision Industry, Cl A		5,815		31,482
Luzhou Laojiao, Cl A		1,700		57,578
Midea Group, Cl A		2,100		16,112
NARI Technology, Cl A		8,736		34,605
New China Life Insurance, Cl A		2,100		8,745

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
CHINA — continued
People's Insurance Group of China, Cl H		192,000	$	59,340
PetroChina, Cl A		39,500		30,664
PetroChina, Cl H		784,000		364,574
PICC Property & Casualty, Cl H		206,000		222,816
Ping An Bank, Cl A		7,000		12,891
Ping An Insurance Group of China, Cl A		3,200		20,261
Poly Developments and Holdings Group, Cl A		9,900		24,786
Postal Savings Bank of China, Cl H		304,000		181,479
SAIC Motor, Cl A		6,000		13,403
Sany Heavy Industry, Cl A		12,400		28,209
Shanghai Pudong Development Bank, Cl A		10,000		10,524
Shenwan Hongyuan Group, Cl A		19,600		11,844
Tingyi Cayman Islands Holding		12,000		21,309
Tsingtao Brewery, Cl H		8,000		77,688
Wuliangye Yibin, Cl A		600		14,487
Yankuang Energy Group, Cl H		70,000		277,089
Yonghui Superstores, Cl A		19,700		9,732
Zhongsheng Group Holdings		22,500		106,388
				7,392,403

DENMARK — 0.2%
AP Moller - Maersk, Cl B		78		187,134
Danske Bank *		7,177		95,834
DSV Panalpina		936		138,311
Novo Nordisk, Cl B		3,635		388,632
Orsted		235		22,936
Pandora		2,022		121,475
Vestas Wind Systems		1,900		47,540
				1,001,862

FINLAND — 0.1%
Elisa		989		52,890
Neste		639		31,527
Nokia		7,088		35,719
Nordea Bank Abp		30,772		285,313
Stora Enso, Cl R		7,622		113,462
UPM-Kymmene		1,783		60,576
				579,487

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
FRANCE — 0.4%
Air Liquide		812	$	101,754
Arkema		209		17,644
Dassault Systemes		1,220		47,047
EssilorLuxottica		589		87,725
Hermes International		98		125,516
Kering		49		24,586
L'Oreal		155		53,234
LVMH Moet Hennessy Louis Vuitton		89		57,429
Orange		119,127		1,206,450
Sartorius Stedim Biotech		458		167,520
Teleperformance		298		84,873
TotalEnergies		4,339		219,683
				2,193,461

GERMANY — 0.2%
Brenntag		2,543		166,739
Carl Zeiss Meditec		737		91,727
Deutsche Boerse		247		41,762
Deutsche Post		1,666		60,808
GEA Group		1,917		66,687
Hannover Rueck		1,175		173,179
Infineon Technologies		675		16,516
Merck KGaA		341		58,577
Puma		269		16,442
RWE		433		16,531
Siemens Energy		582		8,561
				717,529

HONG KONG — 0.0%
Orient Overseas International		4,500		125,437
Techtronic Industries		3,500		41,280
				166,717

HUNGARY — 0.0%
MOL Hungarian Oil & Gas		17,107		117,873

INDONESIA — 0.4%
Adaro Energy Indonesia		1,278,400		304,767
Astra International		42,800		20,082
Bank Central Asia		562,500		310,626

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
INDONESIA — continued
Bank Mandiri Persero		465,300	$	276,893
Bank Negara Indonesia Persero		296,900		170,292
Bank Rakyat Indonesia Persero		618,800		180,708
Indah Kiat Pulp & Paper		52,100		29,184
Indofood Sukses Makmur		339,400		142,383
Sumber Alfaria Trijaya		703,300		103,218
Telkom Indonesia Persero		867,200		265,563
United Tractors		139,500		317,651
Vale Indonesia *		160,600		65,825
				2,187,192

ITALY — 0.0%
Ferrari		239		46,524
Prysmian		4,171		127,978
				174,502

JAPAN — 2.5%
Advantest		2,500		141,588
Ajinomoto		4,800		132,671
Bandai Namco Holdings		1,900		142,570
Bridgestone		1,100		42,212
Canon		1,000		23,949
Chiba Bank		27,200		146,930
Chugai Pharmaceutical		3,600		92,909
Concordia Financial Group		13,700		43,446
Daiichi Sankyo		4,500		135,233
Daikin Industries		900		157,110
Daito Trust Construction		200		19,676
Denso		1,300		70,955
Disco		200		48,562
ENEOS Holdings		89,200		337,080
Fuji Electric		500		21,601
FUJIFILM Holdings		2,600		131,994
Fujitsu		1,400		164,743
Hamamatsu Photonics		500		21,199
Hitachi		500		24,981
Hitachi Metals *		2,600		39,122
Honda Motor		7,500		199,667
Hoya		2,900		295,733
Idemitsu Kosan		500		13,184
Inpex		16,500		189,661

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
JAPAN — continued
Isuzu Motors		2,200	$	27,323
ITOCHU		9,400		258,695
Japan Post Bank		37,700		274,812
Japan Post Holdings		36,700		253,185
Japan Post Insurance		23,100		353,837
Japan Tobacco		19,600		332,091
JFE Holdings		4,600		49,420
JSR		4,400		98,150
Kajima		2,800		29,463
KDDI		1,800		55,082
Kikkoman		300		18,345
Kurita Water Industries		1,400		54,470
Marubeni		7,200		75,040
Medipal Holdings		3,800		51,991
Minebea Mitsumi		4,100		70,467
Mitsubishi		1,100		36,015
Mitsubishi Estate		1,600		21,547
Mitsubishi Gas Chemical		1,700		25,268
Mitsubishi HC Capital		19,300		93,533
Mitsubishi Heavy Industries		1,100		42,406
Mitsubishi UFJ Financial Group		30,900		160,184
Mitsui		4,700		110,305
Mitsui Fudosan		5,100		103,227
Murata Manufacturing		3,600		193,847
NGK Insulators		3,400		48,544
Nintendo		300		122,804
Nippon Sanso Holdings		1,800		32,737
Nippon Steel		5,900		93,197
Nippon Telegraph & Telephone		8,800		238,518
Nippon Yusen		7,000		533,919
Nissin Foods Holdings		3,000		214,639
Nitto Denko		1,300		80,123
Nomura Real Estate Holdings		5,800		142,494
Nomura Research Institute		5,700		153,409
NTT Data		1,100		15,480
Obayashi		4,400		30,433
Obic		100		14,790
Olympus		1,900		40,465
Omron		1,600		84,202
Ono Pharmaceutical		4,900		116,964
Oriental Land		200		29,818
ORIX		7,500		123,280

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
JAPAN — continued
Osaka Gas		22,800	$	384,030
Otsuka Holdings		900		29,396
Panasonic Holdings		8,000		64,915
Recruit Holdings		1,300		41,328
Renesas Electronics *		6,900		65,333
Resona Holdings		53,200		195,842
Rinnai		600		45,950
Rohm		300		22,445
Secom		200		12,742
Sekisui Chemical		2,200		29,993
Sekisui House		3,300		56,115
Seven & i Holdings		400		15,890
SG Holdings		1,600		26,539
Shimadzu		700		20,444
Shimano		200		35,382
Shin-Etsu Chemical		2,400		278,719
Shionogi		600		29,295
SMC		200		94,886
Softbank		11,400		124,981
Sompo Holdings		1,000		42,876
Sony		3,700		294,162
Sumitomo Mitsui Financial Group		28,700		865,686
Sumitomo Mitsui Trust Holdings		2,600		80,868
Suntory Beverage & Food		7,200		262,992
Taisei		2,000		60,639
Takeda Pharmaceutical		4,900		135,436
TDK		1,800		62,932
Tokyo Electric Power Holdings *		4,300		16,794
Tokyo Electron		900		282,273
Tokyo Gas		21,500		403,366
Tosoh		900		11,637
Toyo Suisan Kaisha		2,100		86,141
Toyota Industries		200		11,179
Toyota Motor		29,800		445,959
Yakult Honsha		3,200		189,266
Z Holdings		10,000		29,399
				12,397,125

LUXEMBOURG — 0.0%
ArcelorMittal		1,459		34,628

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
MALAYSIA — 0.2%
AMMB Holdings		91,300	$	84,859
CIMB Group Holdings		6,000		7,175
Hong Leong Bank		57,200		266,240
Hong Leong Financial Group		10,500		45,388
Malayan Banking		206,800		413,703
Petronas Gas		17,200		66,470
Press Metal Aluminium Holdings		11,200		11,871
Public Bank		30,500		32,026
RHB Bank		68,400		87,400
Sime Darby Plantation		32,700		32,504
Telekom Malaysia		43,200		57,429
				1,105,065

MEXICO — 0.3%
America Movil ADR, Cl L		16,505		280,585
Arca Continental		20,500		138,753
Coca-Cola Femsa ADR		1,219		74,639
Gruma, Cl B		4,400		48,103
Grupo Aeroportuario del Pacifico, Cl B		2,700		38,587
Grupo Aeroportuario del Sureste ADR		275		58,154
Grupo Bimbo, Ser A		50,900		171,473
Grupo Carso		24,800		85,122
Grupo Financiero Inbursa, Cl O *		107,900		169,028
Grupo Mexico		18,400		69,320
Wal-Mart de Mexico		43,700		143,205
				1,276,969

NETHERLANDS — 0.3%
ASML Holding		1,245		607,706
Koninklijke Ahold Delhaize		19,787		544,280
Koninklijke DSM		639		81,483
NN Group		4,022		165,297
Wolters Kluwer		1,037		101,411
				1,500,177

NORWAY — 0.3%
Equinor		32,654		1,267,323
Gjensidige Forsikring		2,260		45,861

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
NORWAY — continued
Norsk Hydro		33,238	$	228,382
				1,541,566

PERU — 0.0%
Southern Copper		3,615		170,158

PHILIPPINES — 0.0%
Aboitiz Equity Ventures		33,250		33,163
Globe Telecom		1,275		47,572
Manila Electric		5,880		31,491
Metropolitan Bank & Trust		43,960		41,087
PLDT		225		6,707
				160,020

POLAND — 0.0%
Dino Polska *		183		13,350
Polskie Gornictwo Naftowe i Gazownictwo *		44,256		52,573
				65,923

PORTUGAL — 0.0%
Jeronimo Martins SGPS		1,070		23,724

PUERTO RICO — 0.1%
Popular		3,935		303,861

RUSSIA — 0.0%
Evraz *⁽¹⁾		16,851		—

SINGAPORE — 0.0%
Mapletree Pan Asia Commercial Trust ^‡		10,400		13,676
Singapore Telecommunications		48,700		91,427
STMicroelectronics		553		19,272
United Overseas Bank		600		11,700
Venture		1,400		18,291
				154,366

SOUTH AFRICA — 0.4%
Absa Group		19,658		203,601

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
SOUTH AFRICA — continued
African Rainbow Minerals		1,668	$	23,009
Anglo American		6,932		222,755
Anglo American Platinum		1,835		128,101
Aspen Pharmacare Holdings		1,196		10,264
Bidvest Group		3,142		39,359
Capitec Bank Holdings		688		81,807
Exxaro Resources		7,289		92,864
FirstRand		5,526		20,640
Gold Fields ADR		11,348		91,805
Impala Platinum Holdings		3,012		31,561
Kumba Iron Ore		310		6,863
MTN Group		23,590		170,745
Nedbank Group		7,510		88,644
Old Mutual		10,371		6,144
Sasol		10,906		209,752
Shoprite Holdings		9,194		124,671
Sibanye Stillwater		53,377		119,245
Standard Bank Group		732		6,532
Vodacom Group		8,154		60,019
				1,738,381

SOUTH KOREA — 0.4%
DB Insurance		4,292		191,139
Hana Financial Group		1,304		38,007
Hyundai Glovis		61		7,993
Industrial Bank of Korea		53,317		379,635
Kakao		370		20,092
KB Financial Group		2,990		109,760
Kia		3,952		236,874
Korea Investment Holdings		367		15,475
Korea Zinc		257		128,558
KT&G		2,606		161,878
Kumho Petrochemical		522		50,351
LG Electronics		297		22,225
LG Innotek		574		146,116
Meritz Financial Group		2,029		46,505
Meritz Fire & Marine Insurance		3,614		103,181
Meritz Securities		7,157		25,794
NAVER		604		107,178
Samsung Electronics		4,159		184,247
Samsung Engineering *		748		13,005
Samsung Securities		930		23,413

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
SOUTH KOREA — continued
SK Telecom		2,997	$	116,273
Woori Financial Group		2,800		25,329
Yuhan		500		21,145
				2,174,173

SPAIN — 0.1%
CaixaBank		86,144		260,113
Enagas		785		14,334
Iberdrola		18,507		192,690
Repsol		15,604		202,667
				669,804

SWEDEN — 0.3%
Alfa Laval		4,339		115,710
Atlas Copco, Cl A		30,936		314,032
Boliden		397		12,713
Epiroc, Cl A		3,719		56,904
EQT		1,484		33,238
Hexagon, Cl B		4,858		49,644
Investor, Cl B		11,913		187,763
L E Lundbergforetagen, Cl B		822		33,950
Nibe Industrier, Cl B		21,544		201,754
Skandinaviska Enskilda Banken, Cl A		15,786		157,366
Svenska Cellulosa SCA, Cl B		1,784		26,731
Svenska Handelsbanken, Cl A		2,498		20,459
				1,210,264

SWITZERLAND — 0.3%
Chocoladefabriken Lindt & Spruengli		6		63,458
EMS-Chemie Holding		77		54,072
Kuehne + Nagel International		809		186,969
Lonza Group		142		75,731
Partners Group Holding		76		73,359
Sika		541		121,722
Sonova Holding		280		73,773
Straumann Holding		350		38,354
Swiss Life Holding		60		31,361
TE Connectivity		1,365		172,277
UBS Group		1,015		16,084

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
SWITZERLAND — continued
Zurich Insurance Group		968	$	429,695
				1,336,855

TAIWAN — 0.8%
Accton Technology		11,000		101,295
Acer		42,000		30,165
Advantech		6,599		70,398
ASE Technology Holding		33,000		91,806
Asia Cement		71,000		100,510
Asustek Computer		6,000		49,926
Cathay Financial Holding		47,000		68,377
Chailease Holding		20,488		131,547
China Airlines		10,000		7,397
Chunghwa Telecom		76,000		301,575
Compal Electronics		17,000		12,658
Delta Electronics		9,000		77,055
E.Sun Financial Holding		199,782		184,081
Eclat Textile		1,000		14,484
Eva Airways		13,000		14,227
Evergreen Marine Taiwan		42,000		120,360
Far EasTone Telecommunications		19,000		46,599
Fubon Financial Holding		17,209		32,268
Giant Manufacturing		2,000		15,623
Hon Hai Precision Industry		65,000		231,451
Hua Nan Financial Holdings		18,713		14,203
Lite-On Technology		10,000		21,520
MediaTek		4,000		86,547
Mega Financial Holding		28,700		33,663
Micro-Star International		19,000		71,129
Novatek Microelectronics		21,000		179,661
Quanta Computer		4,000		10,370
Realtek Semiconductor		18,000		202,261
Shanghai Commercial & Savings Bank		15,000		24,416
SinoPac Financial Holdings		52,520		29,774
Synnex Technology International		32,000		58,329
Taishin Financial Holding		142,564		70,758
Taiwan Cement		102,720		132,230
Taiwan Cooperative Financial Holding		134,863		121,793
Taiwan Semiconductor Manufacturing ADR		8,517		709,892
United Microelectronics		202,000		268,754
Wan Hai Lines		16,560		46,673
Yuanta Financial Holding		159,608		105,947

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
TAIWAN — continued
Zhen Ding Technology Holding		26,000	$	96,491
				3,986,213

THAILAND — 0.1%
Advanced Info Service NVDR		1,300		6,839
Bumrungrad Hospital NVDR		20,900		123,754
Indorama Ventures NVDR		22,000		26,055
Krung Thai Bank NVDR		223,800		103,479
PTT Exploration & Production NVDR		68,500		316,815
				576,942

TURKEY — 0.1%
Ford Otomotiv Sanayi		4,074		74,025
Haci Omer Sabanci Holding		179,621		250,921
Turk Hava Yollari AO *		2,941		11,795
Turkiye Is Bankasi, Cl C		154,559		66,951
Turkiye Petrol Rafinerileri *		1,690		33,320
				437,012

UNITED KINGDOM — 0.7%
Ashtead Group		4,475		219,846
AstraZeneca		1,371		169,582
Auto Trader Group		3,946		29,795
BAE Systems		9,058		81,577
BP		87,195		445,559
British American Tobacco		15,780		632,030
Croda International		333		25,956
Experian		4,503		136,645
Halma		3,072		73,897
HSBC Holdings		1,691		10,360
Imperial Brands		7,434		163,487
JD Sports Fashion		55,840		73,040
Legal & General Group		52,042		152,434
Linde		1,018		287,951
Next		564		37,981
Shell		24,546		649,682
Spirax-Sarco Engineering		264		32,228
SSE		784		15,024
				3,237,074

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — 37.1%
COMMUNICATION SERVICES — 1.7%
Activision Blizzard		3,193	$	250,619
Alphabet, Cl A *		12,860		1,391,709
Alphabet, Cl C *		12,400		1,353,460
AT&T		20,459		358,851
Cable One		150		170,250
Charter Communications, Cl A *		453		186,921
Comcast, Cl A		17,933		648,995
DISH Network, Cl A *		2,713		47,070
Electronic Arts		1,103		139,938
Fox, Cl A		3,250		111,085
Fox, Cl B		2,469		78,070
Interpublic Group		1,298		35,877
Liberty Broadband, Cl A *		267		26,919
Liberty Broadband, Cl C *		570		57,969
Liberty Media -Liberty Formula One, Cl A *		600		34,878
Liberty Media -Liberty Formula One, Cl C *		946		60,241
Liberty Media -Liberty SiriusXM, Cl B *		2,196		90,826
Live Nation Entertainment *		922		83,312
Lumen Technologies		10,532		104,899
Meta Platforms, Cl A *		6,029		982,305
News, Cl B		1,712		29,515
Omnicom Group		2,187		146,310
Paramount Global, Cl A		193		5,099
Paramount Global, Cl B		3,853		90,122
Sirius XM Holdings		6,100		37,149
Take-Two Interactive Software *		921		112,878
T-Mobile US *		2,995		431,160
Twitter *		2,913		112,879
Verizon Communications		19,291		806,557
Walt Disney *		3,382		379,055
Warner Bros Discovery *		10,089		133,578
Warner Music Group, Cl A		700		18,739
				8,517,235

CONSUMER DISCRETIONARY — 3.5%
Advance Auto Parts		188		31,704
Amazon.com *		21,280		2,697,666
Aptiv *		1,032		96,420
AutoNation *		4,486		558,956
AutoZone *		192		406,888

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
CONSUMER DISCRETIONARY — continued
Best Buy		1,744	$	123,283
Booking Holdings *		80		150,065
Burlington Stores *		266		37,291
Caesars Entertainment *		615		26,519
CarMax *		1,199		106,040
Carnival *		6,565		62,105
Carvana, Cl A *		154		5,080
Chipotle Mexican Grill, Cl A *		107		170,858
Choice Hotels International		455		52,193
Darden Restaurants		1,179		145,854
Dick's Sporting Goods		2,654		282,306
Dollar General		4,094		971,997
Dollar Tree *		2,484		337,029
Domino's Pizza		448		166,593
DR Horton		5,390		383,498
eBay		4,160		183,581
Etsy *		503		53,122
Expedia Group *		193		19,811
Ford Motor		19,589		298,536
Garmin		2,933		259,541
General Motors		5,935		226,776
Gentex		2,549		69,562
Genuine Parts		797		124,340
H&R Block		933		41,985
Hasbro		399		31,449
Hilton Worldwide Holdings		1,360		173,210
Home Depot		3,264		941,403
Las Vegas Sands *		1,152		43,350
Lear		201		27,867
Lennar, Cl A		1,992		154,280
Lennar, Cl B		491		30,285
LKQ		5,913		314,690
Lowe's		3,499		679,296
Lululemon Athletica *		912		273,563
Marriott International, Cl A		1,358		208,779
McDonald's		1,732		436,949
MGM Resorts International		1,594		52,028
Newell Brands		3,089		55,139
NIKE, Cl B		2,660		283,157
NVR *		47		194,583
O'Reilly Automotive *		565		393,873

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
CONSUMER DISCRETIONARY — continued
Penske Automotive Group		3,074	$	362,455
Polaris		766		86,765
Pool		1,040		352,758
PulteGroup		3,466		140,928
Ross Stores		1,244		107,320
Royal Caribbean Cruises *		1,445		59,028
Service International		800		49,368
Starbucks		2,710		227,830
Target		6,802		1,090,633
Tesla *		2,730		752,415
TJX		5,597		348,973
Tractor Supply		1,656		306,608
Ulta Beauty *		510		214,134
Vail Resorts		154		34,601
VF		1,483		61,470
Whirlpool		909		142,349
Williams-Sonoma		2,959		440,151
Yum! Brands		1,479		164,524
				17,325,810

CONSUMER STAPLES — 2.9%
Albertsons, Cl A		1,463		40,247
Altria Group		13,988		631,139
Archer-Daniels-Midland		3,384		297,420
Brown-Forman, Cl A		439		30,980
Brown-Forman, Cl B		866		62,958
Bunge		2,352		233,248
Campbell Soup		2,158		108,720
Casey's General Stores		473		101,113
Church & Dwight		8,099		677,967
Clorox		278		40,127
Coca-Cola		22,172		1,368,234
Colgate-Palmolive		3,606		282,025
Conagra Brands		4,619		158,801
Constellation Brands, Cl A		601		147,876
Costco Wholesale		1,253		654,191
Darling Ingredients *		310		23,579
Estee Lauder, Cl A		1,075		273,459
Flowers Foods		751		20,502
General Mills		7,073		543,206

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
CONSUMER STAPLES — continued
Hershey		2,150	$	483,041
Hormel Foods		1,262		63,453
J M Smucker		1,154		161,548
JBS		9,800		55,740
Kellogg		10,327		751,186
Keurig Dr Pepper		3,013		114,856
Kimberly-Clark		5,708		727,884
Kraft Heinz		4,127		154,350
Kroger		9,976		478,250
McCormick		1,530		128,665
Molson Coors Beverage, Cl B		716		36,996
Mondelez International, Cl A		3,285		203,210
Monster Beverage *		1,405		124,806
PepsiCo		7,473		1,287,374
Philip Morris International		12,332		1,177,583
Pilgrim's Pride *		677		19,274
Procter & Gamble		6,351		876,057
Sysco		2,262		185,982
Tyson Foods, Cl A		7,140		538,213
Walgreens Boots Alliance		4,405		154,439
Walmart		7,026		931,296
				14,349,995

ENERGY — 3.5%
APA		1,175		45,954
Baker Hughes, Cl A		4,219		106,572
Cheniere Energy		1,146		183,566
Chesapeake Energy		3,292		330,813
Chevron		17,214		2,720,845
ConocoPhillips		8,075		883,809
Continental Resources		11,365		793,618
Coterra Energy		6,829		211,084
Devon Energy		39,493		2,788,996
Diamondback Energy		3,632		484,073
DT Midstream		477		26,335
EOG Resources		4,408		534,691
Equities		2,177		104,061
Exxon Mobil		30,555		2,920,752
Halliburton		7,941		239,262
Hess		1,646		198,804

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
ENERGY — continued
Kinder Morgan		11,398	$	208,811
Marathon Oil		40,287		1,030,944
Marathon Petroleum		4,056		408,642
Occidental Petroleum		11,074		786,254
ONEOK		3,454		211,489
Ovintiv		400		21,256
Phillips 66		2,374		212,378
Pioneer Natural Resources		1,597		404,392
Schlumberger		9,136		348,538
Targa Resources		6,427		438,514
Tenaris		10,560		144,456
Texas Pacific Land		14		25,767
Valero Energy		2,692		315,287
Williams		5,634		191,725
				17,321,688

FINANCIALS — 3.9%
Aflac		3,181		189,015
Allstate		3,084		371,622
Ally Financial		980		32,536
American Express		1,862		283,024
American Financial Group		105		13,406
American International Group		3,967		205,292
Ameriprise Financial		2,062		552,637
Aon, Cl A		1,552		433,412
Apollo Global Management		383		21,287
Arch Capital Group *		3,839		175,519
Ares Management, Cl A		500		37,070
Arthur J Gallagher		956		173,581
Assurant		1,057		167,524
Assured Guaranty		510		26,046
Axis Capital Holdings		2,709		143,983
Bank of America		17,196		577,957
Bank of New York Mellon		3,754		155,904
Bank OZK		2,910		117,942
Berkshire Hathaway, Cl B *		4,281		1,202,105
BlackRock, Cl A		436		290,546
Blackstone, Cl A		2,157		202,629
Brown & Brown		1,940		122,298
Capital One Financial		2,483		262,751

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
FINANCIALS — continued
Cboe Global Markets		418	$	49,311
Charles Schwab		3,684		261,380
Chubb		2,864		541,439
Cincinnati Financial		1,521		147,476
Citigroup		4,689		228,870
Citizens Financial Group		4,036		148,040
CME Group, Cl A		1,094		213,997
CNA Financial		873		33,576
Commerce Bancshares		451		31,015
Discover Financial Services		2,139		214,948
East West Bancorp		9,222		665,552
Equitable Holdings		1,214		36,117
Everest Re Group		353		94,975
FactSet Research Systems		295		127,835
Fidelity National Financial		3,034		118,629
Fifth Third Bancorp		3,609		123,247
First American Financial		1,333		71,315
First Citizens BancShares, Cl A		181		146,965
First Republic Bank		1,161		176,275
Franklin Resources		1,281		33,396
Goldman Sachs Group		1,243		413,509
Hanover Insurance Group		1,916		247,911
Hartford Financial Services Group		2,770		178,139
Huntington Bancshares		7,704		103,234
Interactive Brokers Group, Cl A		618		38,063
Intercontinental Exchange		2,316		233,569
Jefferies Financial Group		1,798		57,698
JPMorgan Chase		8,046		915,072
KeyCorp		9,229		163,261
KKR		2,096		105,974
Loews		807		44,635
LPL Financial Holdings		431		95,393
M&T Bank		1,213		220,499
Markel *		130		155,234
Marsh & McLennan		1,962		316,608
MetLife		6,802		437,573
Moody's		820		233,306
Morgan Stanley		10,213		870,352
Morningstar		165		37,618
MSCI, Cl A		350		157,234
Nasdaq		4,851		288,780

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
FINANCIALS — continued
Northern Trust		1,093	$	103,933
PNC Financial Services Group		1,285		203,030
Principal Financial Group		2,249		168,135
Progressive		5,373		658,998
Prudential Financial		1,966		188,245
Raymond James Financial		865		90,280
Regions Financial		32,427		702,693
S&P Global		826		290,901
SEI Investments		1,311		71,712
Signature Bank NY		562		97,990
State Street		2,158		147,499
SVB Financial Group *		892		362,616
Synchrony Financial		5,736		187,854
T Rowe Price Group		1,288		154,560
Tradeweb Markets, Cl A		588		40,919
Travelers		1,759		284,325
Truist Financial		3,399		159,209
US Bancorp		4,207		191,881
Wells Fargo		9,264		404,929
Western Alliance Bancorp		2,170		166,482
Willis Towers Watson		667		137,956
Wintrust Financial		2,786		234,971
WR Berkley		2,502		162,130
				19,747,354

HEALTH CARE — 5.6%
Abbott Laboratories		4,441		455,869
AbbVie		12,405		1,667,976
ABIOMED *		241		62,486
Agilent Technologies		1,063		136,330
Align Technology *		248		60,438
Alnylam Pharmaceuticals *		658		135,989
AmerisourceBergen, Cl A		1,573		230,539
Amgen		2,721		653,856
Avantor *		3,193		79,538
Baxter International		2,872		165,025
Becton Dickinson		1,061		267,818
Biogen *		723		141,260
BioMarin Pharmaceutical *		1,415		126,218
Bio-Rad Laboratories, Cl A *		351		170,249

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
HEALTH CARE — continued
Bio-Techne		269	$	89,257
Boston Scientific *		5,919		238,595
Bristol-Myers Squibb		6,749		454,950
Bruker		1,540		86,240
Cardinal Health		2,324		164,353
Catalent *		1,591		140,008
Centene *		3,137		281,514
Charles River Laboratories International *		375		76,969
Chemed		99		47,143
Cigna		1,914		542,523
Cooper		416		119,575
CVS Health		9,449		927,419
Danaher		2,975		802,982
DexCom *		572		47,024
Edwards Lifesciences *		3,828		344,903
Elevance Health		1,447		701,954
Eli Lilly		5,104		1,537,478
Enovis *		507		25,679
Gilead Sciences		5,680		360,510
HCA Healthcare		3,550		702,439
Hologic *		3,000		202,680
Horizon Therapeutics *		5,536		327,787
Humana		1,143		550,674
IDEXX Laboratories *		630		219,001
Illumina *		350		70,574
Incyte *		539		37,962
Insulet *		150		38,320
Intuitive Surgical *		516		106,162
IQVIA Holdings *		654		139,080
Johnson & Johnson		12,322		1,988,031
Laboratory Corp of America Holdings		1,096		246,896
McKesson		2,712		995,304
Medtronic		3,147		276,684
Merck		19,970		1,704,639
Mettler-Toledo International *		197		238,855
Moderna *		2,265		299,592
Molina Healthcare *		1,602		540,467
PerkinElmer		1,084		146,405
Pfizer		30,565		1,382,455
Quest Diagnostics		2,640		330,818
Regeneron Pharmaceuticals *		1,037		602,559

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
HEALTH CARE — continued
ResMed		1,060	$	233,115
Royalty Pharma, Cl A		1,078		45,071
Seagen *		452		69,739
STERIS		377		75,920
Stryker		644		132,149
Teleflex		363		82,132
Thermo Fisher Scientific		1,443		786,897
United Therapeutics *		1,019		230,926
UnitedHealth Group		4,859		2,523,424
Veeva Systems, Cl A *		496		98,863
Vertex Pharmaceuticals *		726		204,558
Viatris, Cl W *		3,810		36,385
Waters *		385		114,961
West Pharmaceutical Services		1,231		365,225
Zimmer Biomet Holdings		1,168		124,182
Zoetis, Cl A		3,324		520,306
				28,133,904

INDUSTRIALS — 4.5%
3M		2,694		334,999
AECOM		663		48,498
AGCO		1,515		164,696
Air Lease, Cl A		1,150		41,814
Allegion		314		29,861
AMERCO *		93		48,887
American Airlines Group *		2,284		29,669
AMETEK		1,729		207,757
Armstrong World Industries		345		28,977
Avis Budget Group *		468		78,334
Boeing *		1,331		213,293
Booz Allen Hamilton Holding, Cl A		3,566		341,266
Builders FirstSource *		8,235		482,653
Carlisle		593		175,326
Carrier Global		3,583		140,167
Caterpillar		1,427		263,581
CH Robinson Worldwide		926		105,703
Cintas		1,065		433,285
Copart *		2,043		244,445
CoStar Group *		1,630		113,513
CSX		11,600		367,140

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
INDUSTRIALS — continued
Cummins		2,393	$	515,380
Deere		1,253		457,658
Delta Air Lines *		3,939		122,385
Dover		2,936		366,883
Eaton		4,586		626,631
Emerson Electric		7,832		640,188
Equifax		903		170,441
Esab		506		20,792
Expeditors International of Washington		3,134		322,457
Fastenal		7,487		376,821
FedEx		1,415		298,296
Fortive		2,121		134,323
Fortune Brands Home & Security		1,168		71,750
Generac Holdings *		356		78,466
General Dynamics		1,556		356,215
General Electric		2,990		219,586
Graco		300		19,152
HEICO		516		78,587
HEICO, Cl A		651		79,800
Honeywell International		1,609		304,664
Howmet Aerospace		3,866		136,972
Hubbell, Cl B		1,115		230,025
IDEX		1,243		250,104
Illinois Tool Works		1,375		267,891
Ingersoll Rand		6,872		325,527
ITT		1,371		99,439
Jacobs Solutions		2,804		349,322
JB Hunt Transport Services		1,738		302,447
Johnson Controls International		3,316		179,528
L3Harris Technologies		935		213,358
Landstar System		1,364		200,003
Leidos Holdings		1,634		155,312
Lockheed Martin		2,730		1,146,900
Masco		2,179		110,846
Nordson		890		202,181
Norfolk Southern		1,198		291,270
Northrop Grumman		1,066		509,537
nVent Electric		1,352		44,562
Old Dominion Freight Line		1,981		537,663
Otis Worldwide		1,961		141,623
Owens Corning		1,141		93,254

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
INDUSTRIALS — continued
PACCAR		2,674	$	234,002
Parker-Hannifin		1,702		451,030
Plug Power *		2,715		76,129
Quanta Services		3,315		468,410
Raytheon Technologies		3,523		316,189
Regal Beloit		1,824		250,964
Republic Services, Cl A		1,669		238,200
Robert Half International		2,027		156,018
Rockwell Automation		581		137,662
Rollins		2,592		87,506
Schneider Electric		3,162		375,829
Snap-on		744		162,088
Southwest Airlines *		2,253		82,685
Stanley Black & Decker		966		85,105
Textron		596		37,178
Timken		1,565		98,579
Trane Technologies		3,992		615,047
TransDigm Group *		266		159,704
TransUnion		1,528		112,873
Uber Technologies *		1,520		43,715
Union Pacific		2,930		657,814
United Airlines Holdings *		933		32,664
United Parcel Service, Cl B		2,249		437,453
United Rentals *		2,289		668,480
Verisk Analytics, Cl A		1,230		230,207
Wabtec		1,800		157,770
Waste Management		2,420		409,053
Watsco		340		92,490
WW Grainger		784		435,073
XPO Logistics *		1,670		87,541
Xylem		849		77,344
				22,416,905

INFORMATION TECHNOLOGY — 8.4%
Accenture, Cl A		4,097		1,181,821
Adobe *		886		330,868
Advanced Micro Devices *		3,281		278,458
Akamai Technologies *		2,598		234,547
Amdocs		844		72,137
Amphenol, Cl A		3,386		248,973

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
INFORMATION TECHNOLOGY — continued
Analog Devices		1,906	$	288,816
ANSYS *		512		127,130
Apple		68,258		10,731,523
Applied Materials		4,020		378,161
Arista Networks *		1,795		215,185
Arrow Electronics *		1,279		134,052
Atlassian, Cl A *		212		52,504
Autodesk *		1,076		217,072
Automatic Data Processing		1,616		394,967
Bentley Systems, Cl B		1,002		36,843
Bill.com Holdings *		300		48,564
Block, Cl A *		1,113		76,697
Broadcom		1,416		706,740
Broadridge Financial Solutions		1,884		322,484
Cadence Design Systems *		2,020		351,015
CDW		2,462		420,263
Cisco Systems		10,643		475,955
Cloudflare, Cl A *		528		33,037
Cognizant Technology Solutions, Cl A		3,019		190,710
Corning		4,142		142,153
Crowdstrike Holdings, Cl A *		236		43,096
Datadog, Cl A *		325		34,109
Dell Technologies, Cl C		2,802		107,289
Dynatrace *		932		35,584
Enphase Energy *		452		129,471
Entegris		3,829		363,295
EPAM Systems *		688		293,432
F5 *		233		36,595
Fair Isaac *		339		152,347
Fidelity National Information Services		2,179		199,095
Fiserv *		2,223		224,945
FleetCor Technologies *		691		146,858
Fortinet *		7,105		345,942
Gartner *		751		214,275
Global Payments		252		31,306
GoDaddy, Cl A *		1,390		105,390
Hewlett Packard Enterprise		11,343		154,265
HP		10,060		288,823
HubSpot *		73		24,604
Intel		14,788		472,033
International Business Machines		5,259		675,519

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
INFORMATION TECHNOLOGY — continued
Intuit		787	$	339,811
Jabil		817		49,265
Jack Henry & Associates		343		65,925
Juniper Networks		1,278		36,321
Keysight Technologies *		3,125		512,156
KLA		2,049		705,122
Lam Research		1,725		755,395
Manhattan Associates *		333		47,040
Marvell Technology		3,339		156,332
Mastercard, Cl A		2,609		846,281
Microchip Technology		2,316		151,119
Micron Technology		4,893		276,601
Microsoft		30,221		7,901,885
MongoDB, Cl A *		27		8,717
Monolithic Power Systems		240		108,763
Motorola Solutions		1,249		304,019
NetApp		1,110		80,064
NortonLifeLock		6,433		145,321
NVIDIA		7,140		1,077,712
NXP Semiconductors		1,015		167,049
ON Semiconductor *		1,706		117,322
Oracle		3,908		289,778
Palo Alto Networks *		176		97,999
Paychex		1,916		236,319
Paycom Software *		173		60,758
PTC *		879		100,988
Qorvo *		1,222		109,711
QUALCOMM		4,792		633,838
Roper Technologies		433		174,317
Salesforce *		1,595		249,011
Seagate Technology Holdings		2,266		151,731
ServiceNow *		285		123,867
Skyworks Solutions		1,111		109,489
Snowflake, Cl A *		440		79,618
SolarEdge Technologies *		274		75,616
Splunk *		600		54,018
SS&C Technologies Holdings		2,984		166,388
Synopsys *		1,374		475,431
TD SYNNEX		1,634		157,321
Teledyne Technologies *		930		342,575
Teradyne		3,026		256,121

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
INFORMATION TECHNOLOGY — continued
Texas Instruments		2,972	$	491,004
Trade Desk, Cl A *		830		52,041
Trimble *		1,952		123,464
Tyler Technologies *		104		38,637
Ubiquiti		823		255,451
VeriSign *		563		102,590
Visa, Cl A		3,313		658,326
VMware, Cl A *		1,115		129,373
Western Digital *		2,861		120,906
Workday, Cl A *		241		39,659
Zebra Technologies, Cl A *		753		227,135
Zoom Video Communications, Cl A *		352		28,301
Zscaler *		219		34,874
				41,867,823

MATERIALS — 1.5%
Air Products & Chemicals		1,326		334,749
Albemarle		2,263		606,393
Alcoa		3,019		149,380
Amcor		15,203		182,588
Avery Dennison		562		103,194
Ball		3,075		171,616
Celanese, Cl A		897		99,441
CF Industries Holdings		4,689		485,124
Chemours		3,310		111,646
Cleveland-Cliffs *		3,148		54,366
Corteva		8,616		529,281
Crown Holdings		3,187		288,710
Dow		4,763		242,913
DuPont de Nemours		1,894		105,382
Eagle Materials		274		32,776
Eastman Chemical		425		38,675
Ecolab		912		149,413
Element Solutions		2,957		55,207
FMC		1,031		111,430
Freeport-McMoRan		12,316		364,554
Graphic Packaging Holding		1,659		36,946
International Flavors & Fragrances		1,296		143,182
International Paper		4,561		189,829
LyondellBasell Industries, Cl A		2,752		228,416

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
MATERIALS — continued
Martin Marietta Materials		636	$	221,143
Mosaic		4,231		227,924
Newmont		1,835		75,896
Nucor		4,540		603,548
Olin		3,385		185,024
Packaging Corp of America		955		130,759
PPG Industries		1,244		157,963
Reliance Steel & Aluminum		1,626		305,655
RPM International		1,535		143,001
Sherwin-Williams		748		173,611
Silgan Holdings		925		42,134
Steel Dynamics		3,487		281,471
Valvoline		1,746		50,756
Vulcan Materials		514		85,576
Westlake		200		19,726
Westrock		844		34,258
				7,553,656

REAL ESTATE — 0.1%
CBRE Group, Cl A *		3,991		315,129
Life Storage ^‡		346		44,029
Welltower ^‡		1,573		120,570
				479,728

UTILITIES — 1.5%
AES		5,543		141,069
Alliant Energy		2,080		126,963
Ameren		2,056		190,427
American Electric Power		2,434		243,887
American Water Works		889		131,972
Atmos Energy		1,028		116,555
Avangrid		928		45,843
CenterPoint Energy		2,026		63,880
CMS Energy		2,386		161,150
Consolidated Edison		15,132		1,479,002
Constellation Energy		1,592		129,891
Dominion Energy		2,310		188,958
DTE Energy		2,469		321,810
Duke Energy		1,937		207,085
Edison International		2,205		149,433

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
UTILITIES — continued
Entergy		1,668	$	192,320
Essential Utilities		800		39,320
Evergy		1,889		129,453
Eversource Energy		1,681		150,769
Exelon		13,579		596,254
FirstEnergy		4,518		178,687
IDACORP		1,897		207,228
National Fuel Gas		3,031		216,019
NextEra Energy		5,268		448,096
NiSource		547		16,142
OGE Energy		2,901		117,607
PG&E *		8,810		108,627
PPL		6,407		186,316
Public Service Enterprise Group		2,481		159,677
Sempra Energy		1,419		234,092
Southern		4,483		345,505
WEC Energy Group		3,078		317,465
Xcel Energy		631		46,852
				7,388,354

				185,102,452
ZAMBIA — 0.0%
First Quantum Minerals		6,725		119,000

Total Common Stock
(Cost $194,705,360)				243,924,570
REGISTERED INVESTMENT COMPANIES — 48.5%

EQUITY FUNDS — 48.5%
AQR International Defensive Style Fund, Cl R6		491,744		6,141,878
AQR Large Cap Defensive Style Fund, Cl R6		325,056		8,753,765
Avantis Emerging Markets Equity ETF		219,154		11,301,772
Avantis International Equity ETF		68,174		3,453,013
Avantis International Small Cap Value ETF		87,677		4,662,663
DFA Emerging Markets Portfolio, Cl I		776,017		20,579,979
DFA Emerging Markets Small Cap Portfolio, Cl I		474,616		10,095,078
DFA Emerging Markets Targeted Value Portfolio, Cl I		186,911		1,942,003

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

REGISTERED INVESTMENT COMPANIES — continued
	Shares		Value
EQUITY FUNDS — continued
DFA International High Relative Profitability Portfolio, Cl I		946,793	$	10,102,277
DFA International Real Estate Securities, Cl I		1,676,893		6,355,426
DFA International Small Cap Growth Portfolio, Cl I		113,213		1,530,645
DFA International Small Cap Value Portfolio, Cl I		581,936		10,370,097
DFA International Value Portfolio, Cl I		594,105		9,980,968
DFA Large Cap International Portfolio, Cl I		914,686		20,214,563
DFA Real Estate Securities Portfolio, Cl I		405,925		17,320,832
DFA US Small Cap Portfolio, Cl I		253,527		10,257,697
DFA US Small Cap Value Portfolio, Cl I		181,568		7,377,088
DFA US Targeted Value Portfolio, Cl I		821,593		23,037,481
Dimensional Emerging Markets High Profitability		14,078		322,521
iShares MSCI Global Min Vol Factor ETF		385,328		36,536,801
Schwab International Small Cap Equity ETF		60,162		1,891,493
Vanguard Small Cap Value ETF		36,894		5,903,778
Vanguard U.S. Quality Factor ETF		39,529		4,127,895
Vanguard U.S. Value Factor ETF		98,922		9,664,679
Total Registered Investment Companies
(Cost $202,153,693)				241,924,392
PREFERRED STOCK — 0.2%

BRAZIL — 0.2%
Cia Energetica de Minas Gerais⁽²⁾		43,679		102,094
Petroleo Brasileiro⁽²⁾		103,400		660,660

Total Preferred Stock
(Cost $586,909)				762,754
SHORT-TERM INVESTMENT — 2.2%

DWS Government Money Market Series, Institutional Shares, 2.260% (A)
(Cost $11,011,726)		11,011,726		11,011,726

Total Investments — 99.8%
(Cost $408,457,688)			$	497,623,442

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

A list of open total return swap agreements held by the Fund at August 31, 2022, is as follows:

Counterparty

Reference
Entity/
Obligation

Fund
Pays

Fund
Receives

Payment Frequency

Termination Date

Currency

Notional
Amount

Value

Net Unrealized
Depreciation

ReFlow

SPGEX NAV

SOFR + 35 BPS

SPGEX

Annually

03/10/2023

USD

6,148,984

(478,169

)

(478,169

)

A list of open futures contracts held by the Fund at August 31, 2022, is as follows:

Type of Contract	Number of Contracts		Expiration Date		Notional Amount		Value		Unrealized Depreciation
Long Contracts
MSCI EAFE Index		18		Sep-2022	$	1,723,344	$	1,644,390	$	(78,954	)
S&P 500 Index E-MINI		3		Sep-2022		622,800		593,475		(29,325	)
SGX Nifty 50		76		Sep-2022		2,674,273		2,661,520		(12,753	)
					$	5,020,417	$	4,899,385	$	(121,032	)

Percentages are based on Net Assets of $498,402,944.

*	Non-income producing security.
^‡	Real Estate Investment Trust
(1)	Level 3 security in accordance with fair value hierarchy.
(2)	No Interest Rate Available.
(A)	The rate reported is the 7-day effective yield as of August 31, 2022.

ADR — American Depositary Receipt

BPS— Basis Points

Cl — Class

EAFE — Europe, Australasia and Far East

ETF — Exchange-Traded Fund

MIN — Minimum

MSCI — Morgan Stanley Capital International

NASDAQ – National Association of Securities Dealers and Automated Quotations

NAV — Net Asset Value

NVDR — Non-Voting Depositary Receipt

S&P— Standard & Poor's

Ser — Series

SGX — Singapore Exchange

SOFR — Secured Overnight Financing Rate

SPGEX — Symmetry Panoramic Global Equity Fund

USD — U.S. Dollar

VOL — Volatility

The following table summarizes the inputs used as of August 31, 2022, in valuing the Fund’s investments and other financial instruments carried at value:

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

Investments in Securities	Level 1		Level 2		Level 3			Total
Common Stock
Australia	$	–	$	2,410,360	$	–		$	2,410,360
Austria		–		21,214		–			21,214
Belgium		–		42,855		–			42,855
Brazil		1,280,254		66,788		–			1,347,042
Canada		6,184,653		–		–			6,184,653
Chile		–		65,668		–			65,668
China		–		7,392,403		–			7,392,403
Denmark		–		1,001,862		–			1,001,862
Finland		–		579,487		–			579,487
France		–		2,193,461		–			2,193,461
Germany		–		717,529		–			717,529
Hong Kong		–		166,717		–			166,717
Hungary		–		117,873		–			117,873
Indonesia		–		2,187,192		–			2,187,192
Italy		46,524		127,978		–			174,502
Japan		–		12,397,125		–			12,397,125
Luxembourg		–		34,628		–			34,628
Malaysia		–		1,105,065		–			1,105,065
Mexico		1,276,969		–		–			1,276,969
Netherlands		–		1,500,177		–			1,500,177
Norway		–		1,541,566		–			1,541,566
Peru		170,158		–		–			170,158
Philippines		–		160,020		–			160,020
Poland		–		65,923		–			65,923
Portugal		–		23,724		–			23,724
Puerto Rico		303,861		–		–			303,861
Russia		–		–		–	⁽¹⁾		–
Singapore		–		154,366		–			154,366
South Africa		114,814		1,623,567		–			1,738,381
South Korea		–		2,174,173		–			2,174,173
Spain		–		669,804		–			669,804
Sweden		–		1,210,264		–			1,210,264
Switzerland		172,277		1,164,578		–			1,336,855
Taiwan		709,892		3,276,321		–			3,986,213
Thailand		–		576,942		–			576,942
Turkey		–		437,012		–			437,012
United Kingdom		287,951		2,949,123		–			3,237,074
United States		184,582,167		520,285		–			185,102,452
Zambia		119,000		–		–			119,000
Total Common Stock		195,248,520		48,676,050		–			243,924,570
Registered Investment Companies		241,924,392		–		–			241,924,392
Preferred Stock
Brazil		762,754		–		–			762,754
Short-Term Investment		11,011,726		–		–			11,011,726
Total Investments in Securities	$	448,947,392	$	48,676,050	$	–		$	497,623,442

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2022

Other Financial Instruments	Level 1			Level 2			Level 3		Total
Futures Contracts^
Unrealized Depreciation	$	(121,032	)	$	–		$	–	$	(121,032	)
Total Return Swap^
Unrealized Depreciation		–			(478,169	)		–		(478,169	)
Total Other Financial Instruments	$	(121,032	)	$	(478,169	)	$	–	$	(599,201	)

(1) For the year ended August 31, 2022, there were no significant changes into/out of Level 3. The transfer into Level 3 investments for the Fund was immaterial, although the unrealized appreciation/(depreciation) on this investment was $(113,989). This security was impacted by the invasion of Ukraine and sanctions on market conditions in Russia. From the start of the conflict in Ukraine until August 31, 2022, Russian-held investments were valued at an approximately 100 percent discount from their last traded prices.

^ Futures contracts and swap contracts are valued at the unrealized depreciation on the instrument.

Amounts designated as “—” are $0.

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in the Notes to Financial Statements.

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC TAX-MANAGED GLOBAL EQUITY FUND
AUGUST 31, 2022

SECTOR WEIGHTINGS^† (UNAUDITED)

^†	Percentages are based on total investments. Total investments do not include swaps.

SCHEDULE OF INVESTMENTS
REGISTERED INVESTMENT COMPANIES — 98.0%
	Shares		Value
EQUITY FUNDS — 98.0%
AQR Emerging Multi-Style II Fund, Cl R6		625,585	$	6,043,151
AQR International Defensive Style Fund, Cl R6		121,743		1,520,575
AQR International Multi-Style Fund, Cl R6		865,479		9,329,867
AQR Large Cap Defensive Style Fund, Cl R6		82,117		2,211,413
AQR Large Capital Multi-Style Fund, Cl R6		840,668		14,787,352
Avantis Emerging Markets Equity ETF		63,104		3,254,273
Avantis International Equity ETF		61,414		3,110,619
Avantis International Small Cap Value ETF		23,085		1,227,660
DFA Emerging Markets Portfolio, Cl I		151,617		4,020,879
DFA Emerging Markets Small Cap Portfolio, Cl I		106,096		2,256,652
DFA Emerging Markets Targeted Value Portfolio, Cl I		49,988		519,373
DFA International High Relative Profitability Portfolio, Cl I		257,140		2,743,684
DFA International Small Cap Growth Portfolio, Cl I		30,149		407,615
DFA International Small Cap Value Portfolio, Cl I		144,891		2,581,963
DFA Large Cap International Portfolio, Cl I		223,612		4,941,826
DFA Real Estate Securities Portfolio, Cl I		52,176		2,226,364
DFA US High Relative Profitability Portfolio, Cl I		383,633		6,586,977
Dimensional Emerging Markets High Profitability		68,000		1,557,853
Dimensional International Value ETF		90,524		2,589,892
Dimensional US Core Equity 2 ETF		184,656		4,529,612
Dimensional US Equity ETF		311,583		13,348,216
Dimensional US Marketwide Value ETF		198,615		6,486,766
Dimensional US Small Capital ETF		47,996		2,465,074
Dimensional US Targeted Value ETF		166,572		7,192,579
iShares MSCI Global Min Vol Factor ETF		89,394		8,476,339
Schwab International Small Cap Equity ETF		21,798		685,329
Vanguard Small Cap Value ETF		8,931		1,429,139

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC TAX-MANAGED GLOBAL EQUITY FUND
AUGUST 31, 2022

REGISTERED INVESTMENT COMPANIES — continued
	Shares		Value
EQUITY FUNDS — continued
Vanguard U.S. Quality Factor ETF		8,804	$	919,375
Vanguard U.S. Value Factor ETF		17,776		1,736,715
Total Registered Investment Companies
(Cost $105,021,452)				119,187,132
SHORT-TERM INVESTMENT — 3.4%

DWS Government Money Market Series, Institutional Shares, 2.260% (A)
(Cost $4,078,479)		4,078,479		4,078,479

Total Investments — 101.4%
(Cost $109,099,931)			$	123,265,611

A list of open total return swap agreements held by the Fund at August 31, 2022, is as follows:

Counterparty

Reference
Entity/
Obligation

Fund
Pays

Fund
Receives

Payment Frequency

Termination Date

Currency

Notional
Amount

Value

Net Unrealized
Depreciation

ReFlow

SPGTX NAV

SOFR + 35 BPS

SPGTX

Annually

03/10/2023

USD

2,529,642

(384,665

)

(384,665

)

Percentages are based on Net Assets of $121,582,056.

(A)	The rate reported is the 7-day effective yield as of August 31, 2022.

BPS— Basis Points

Cl — Class

ETF — Exchange-Traded Fund

MIN — Minimum

MSCI — Morgan Stanley Capital International

NAV — Net Asset Value

SOFR — Secured Overnight Financing Rate

SPGTX — Symmetry Panoramic Tax-Managed Global Equity Fund

USD — U.S. Dollar

VOL — Volatility

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC TAX-MANAGED GLOBAL EQUITY FUND
AUGUST 31, 2022

The following is a summary of the level of inputs used as of August 31, 2022, in valuing the Fund’s investments and other financial instruments carried at value:

Investments in Securities	Level 1		Level 2			Level 3		Total
Registered Investment Companies	$	119,187,132	$	–		$	–	$	119,187,132
Short-Term Investment		4,078,479		–			–		4,078,479
Total Investments in Securities	$	123,265,611	$	–		$	–	$	123,265,611

Other Financial Instruments	Level 1		Level 2			Level 3		Total
Total Return Swap^
Unrealized Depreciation		–		(384,665	)		–		(384,665	)
Total Other Financial Instruments	$	–	$	(384,665	)	$	–	$	(384,665	)

^ Swap contracts are valued at the unrealized depreciation on the instrument.

Amounts designated as “—” are $0.

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in the Notes to Financial Statements.

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC US FIXED INCOME FUND
AUGUST 31, 2022

SECTOR WEIGHTINGS^† (UNAUDITED)

^†	Percentages are based on total investments.

SCHEDULE OF INVESTMENTS
REGISTERED INVESTMENT COMPANIES — 98.8%
	Shares		Value
FIXED INCOME FUNDS — 98.8%
iShares Core 1-5 Year USD Bond ETF, Cl 5		696,312	$	32,817,185
JPMorgan U.S. Aggregate Bond ETF		601,693		28,646,603
Vanguard Short-Term Bond Index Fund, Cl Institutional Plus (A)		10,233,112		102,331,125
Vanguard Total Bond Market Index Fund, Cl Institutional Plus (A)		8,745,954		85,885,268
Total Registered Investment Companies
(Cost $262,321,260)				249,680,181
SHORT-TERM INVESTMENT — 0.8%

DWS Government Money Market Series, Institutional Shares, 2.260% (B)
(Cost $2,041,383)		2,041,383		2,041,383

Total Investments — 99.6%
(Cost $264,362,643)			$	251,721,564

Percentages are based on Net Assets of $252,715,092.

(A)	Represents greater than 25% of the Fund’s total investments. For further financial information, available upon request at no charge, please go to the Securities Exchange Commission’s website at http://www.sec.gov.
(B)	The rate reported is the 7-day effective yield as of August 31, 2022.

Cl — Class

ETF — Exchange-Traded Fund

USD — United States Dollar

As of August 31, 2022, all of the Fund’s investments in securities were considered Level 1, in accordance with the authoritative guidance on fair value measurement and disclosure under U.S. generally accepted accounting principles.

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in the Notes to Financial Statements.

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC MUNICIPAL FIXED INCOME FUND
AUGUST 31, 2022

SECTOR WEIGHTINGS^† (UNAUDITED)

^†	Percentages are based on total investments.

SCHEDULE OF INVESTMENTS
REGISTERED INVESTMENT COMPANIES — 97.9%
	Shares		Value
MUNICIPAL BOND FUNDS — 97.9%
DFA Intermediate-Term Municipal Bond Portfolio, Cl I		992,113	$	9,821,919
DFA Short-Term Municipal Bond Portfolio, Cl I (A)		1,880,619		18,900,225
iShares National Muni Bond ETF		21,284		2,250,570
iShares Short-Term National Muni Bond ETF		41,178		4,287,865
Vanguard Tax-Exempt Bond Index ETF		89,702		4,460,881
Total Registered Investment Companies
(Cost $41,148,722)				39,721,460
SHORT-TERM INVESTMENT — 2.3%

DWS Government Money Market Series, Institutional Shares, 2.260% (B)
(Cost $913,219)		913,219		913,219

Total Investments — 100.2%
(Cost $42,061,941)			$	40,634,679

Percentages are based on Net Assets of $40,552,053.

(A)	Represents greater than 25% of the Fund’s total investments. For further financial information, available upon request at no charge, please go to the Securities Exchange Commission’s website at http://www.sec.gov.
(B)	The rate reported is the 7-day effective yield as of August 31, 2022.

Cl — Class

ETF — Exchange-Traded Fund

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in the Notes to Financial Statements.

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC GLOBAL FIXED INCOME FUND
AUGUST 31, 2022

SECTOR WEIGHTINGS^† (UNAUDITED)

^†	Percentages are based on total investments.

SCHEDULE OF INVESTMENTS
REGISTERED INVESTMENT COMPANIES — 98.8%
	Shares		Value
FIXED INCOME FUNDS — 98.8%
DFA Five-Year Global Fixed Income Portfolio, Cl I		2,616,055	$	26,239,028
JPMorgan U.S. Aggregate Bond ETF		953,300		45,386,613
Vanguard Total Bond Market Index Fund, Cl Institutional Plus (A)		13,848,408		135,991,363
Vanguard Total International Bond Index Fund, Cl Institutional (A)		5,487,425		161,824,169
Total Registered Investment Companies
(Cost $402,108,084)				369,441,173
SHORT-TERM INVESTMENT — 1.0%

DWS Government Money Market Series, Institutional Shares, 2.260% (B)
(Cost $3,697,171)		3,697,171		3,697,171

Total Investments — 99.8%
(Cost $405,805,255)			$	373,138,344

Percentages are based on Net Assets of $373,972,420.

(A)	Represents greater than 25% of the Fund’s total investments. For further financial information, available upon request at no charge, please go to the Securities Exchange Commission’s website at http://www.sec.gov.
(B)	The rate reported is the 7-day effective yield as of August 31, 2022.

Cl — Class

ETF — Exchange-Traded Fund

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in the Notes to Financial Statements.

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC ALTERNATIVES FUND
AUGUST 31, 2022

SECTOR WEIGHTINGS^† (UNAUDITED)

^†	Percentages are based on total investments.

SCHEDULE OF INVESTMENTS
REGISTERED INVESTMENT COMPANIES — 96.2%
	Shares		Value
EQUITY FUNDS — 96.2%
AQR Alternative Risk Premia Fund, Cl R6		628,649	$	5,557,260
AQR Diversified Arbitrage Fund, Cl R6 (A)		923,373		10,960,439
AQR Managed Futures Strategy Fund, Cl R6 (A)		588,486		5,714,198
Total Registered Investment Companies
(Cost $21,625,689)				22,231,897
SHORT-TERM INVESTMENT — 1.0%

DWS Government Money Market Series, Institutional Shares, 2.260% (B)
(Cost $227,602)		227,602		227,602

Total Investments — 97.2%
(Cost $21,853,291)			$	22,459,499

Percentages are based on Net Assets of $23,114,020.

(A)	Represents greater than 25% of the Fund’s total investments. For further financial information, available upon request at no charge, please go to the Securities Exchange Commission’s website at http://www.sec.gov.
(B)	The rate reported is the 7-day effective yield as of August 31, 2022.

Cl — Class

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in the Notes to Financial Statements.

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC TRUST
AUGUST 31, 2022

Statements of Assets and Liabilities

	US Equity Fund		International Equity Fund		Global Equity Fund		Tax-Managed Global Equity Fund
Assets:
Investments, at Value ^†	$	524,097,852	$	264,364,493	$	497,623,442	$	123,265,611
Foreign Currency, at Value ^†^†		36		460,019		545,532		–
Dividends and Interest Receivable		647,240		304,757		583,238		123
Receivable for Capital Shares Sold		205,509		114,103		198,337		69,663
Cash Collateral on Futures Contracts		135,244		262,323		316,232		–
Reclaim Receivable		234		180,951		140,857		–
Receivable for Investment Securities Sold		–		–		–		3,995,000
Cash Collateral on Swap Contracts		–		300,000		540,000		280,000
Prepaid Expenses		12,790		8,538		12,616		5,947
Total Assets		525,098,905		265,995,184		499,960,254		127,616,344
Liabilities:
Unrealized Depreciation on Swap Contracts		333,679		402,192		478,169		384,665
Payable for Capital Shares Redeemed		330,444		121,653		277,874		119,313
Payable Due to Adviser		157,655		84,152		140,877		15,171
Shareholder Servicing Fees Payable		98,350		49,477		93,576		21,955
Unrealized Depreciation on Futures Contracts		67,422		51,136		121,032		–
Payable Due to Administrator		17,181		8,539		16,228		3,948
Audit Fees Payable		14,750		14,750		14,750		14,750
Trustees Fees Payable		5,531		5,531		5,531		5,531
Transfer Agent Fees Payable		4,758		4,303		4,724		3,949
Chief Compliance Officer Fees Payable		3,592		1,803		3,407		824
Payable for Investment Securities Purchased		–		408,559		320,929		5,456,108
Unrealized Depreciation on Spot Currency Contracts		–		89		69		–
Other Accrued Expenses		42,709		58,340		80,144		8,074
Total Liabilities		1,076,071		1,210,524		1,557,310		6,034,288
Net Assets	$	524,022,834	$	264,784,660	$	498,402,944	$	121,582,056
^† Cost of Investments	$	395,272,131	$	238,041,906	$	408,457,688	$	109,099,931
^†^† Cost of Foreign Currency		–		465,225		550,422		–
Net Assets Consist of:
Paid-in Capital	$	379,590,081	$	248,779,330	$	396,531,546	$	107,458,348
Total Distributable Earnings		144,432,753		16,005,330		101,871,398		14,123,708
Net Assets	$	524,022,834	$	264,784,660	$	498,402,944	$	121,582,056

Outstanding Shares of Beneficial Interest (unlimited authorization - no par value)		41,439,364		25,428,878		42,316,540		9,860,415
Class I Shares Net Asset Value, Offering and Redemption Price Per Share	$	12.65	$	10.41	$	11.78	$	12.33

Amounts designated as “—” are $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC TRUST
AUGUST 31, 2022

Statements of Assets and Liabilities

	US Fixed Income Fund			Municipal Fixed Income Fund			Global Fixed Income Fund			Alternatives Fund
Assets:
Investments, at Value ^†	$	251,721,564		$	40,634,679		$	373,138,344		$	22,459,499
Receivable for Capital Shares Sold		907,708			16,476			142,750			669,301
Dividends and Interest Receivable		313,946			22,865			468,084			10
Receivable for Investment Securities Sold		–			–			10,138,554			–
Receivable Due from Adviser		–			1,157			–			4,414
Prepaid Expenses		8,253			4,208			10,003			12,656
Total Assets		252,951,471			40,679,385			383,897,735			23,145,880
Liabilities:
Payable for Capital Shares Redeemed		116,199			68,762			199,818			2,130
Shareholder Servicing Fees Payable		46,874			7,181			69,880			3,397
Payable Due to Adviser		22,838			–			60,600			–
Audit Fees Payable		14,750			14,750			14,750			14,750
Payable Due to Administrator		7,994			1,278			11,951			691
Trustees Fees Payable		5,531			5,531			5,531			5,531
Transfer Agent Fees Payable		4,271			3,793			4,468			3,707
Chief Compliance Officer Fees Payable		1,716			274			2,574			145
Payable for Investment Securities Purchased		–			–			9,531,760			–
Custodian Fees Payable		–			22,826			–			–
Other Accrued Expenses		16,206			2,937			23,983			1,509
Total Liabilities		236,379			127,332			9,925,315			31,860
Net Assets	$	252,715,092		$	40,552,053		$	373,972,420		$	23,114,020
^† Cost of Investments	$	264,362,643		$	42,061,941		$	405,805,255		$	21,853,291
Net Assets Consist of:
Paid-in Capital	$	266,338,176		$	42,028,513		$	407,323,314		$	22,544,171
Total Distributable Earnings (Loss)		(13,623,084	)		(1,476,460	)		(33,350,894	)		569,849
Net Assets	$	252,715,092		$	40,552,053		$	373,972,420		$	23,114,020

Outstanding Shares of Beneficial Interest (unlimited authorization - no par value)		26,144,070			4,109,996			40,196,666			2,019,110
Class I Shares Net Asset Value, Offering and Redemption Price Per Share	$	9.67		$	9.87		$	9.30		$	11.45

Amounts designated as “—” are $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC TRUST
YEAR ENDED AUGUST 31, 2022

Statements of Operations

	US Equity Fund			International Equity Fund			Global Equity Fund			Tax-Managed Global Equity Fund
Investment Income:
Dividend Income	$	9,103,975		$	11,276,482		$	13,941,247		$	3,140,215
Less: Foreign Taxes Withheld		(7,839	)		(479,871	)		(371,027	)		–
Total Investment Income		9,096,136			10,796,611			13,570,220			3,140,215

Expenses:
Investment Advisory Fees		3,189,719			2,093,507			3,512,902			815,967
Shareholder Servicing Fees		700,115			360,905			672,568			151,152
Administration Fees		212,396			109,535			204,215			45,997
Chief Compliance Officer Fees		23,929			12,335			22,992			5,139
Trustees' Fees		21,875			21,875			21,875			21,875
Legal Fees		73,952			37,927			70,868			15,930
Custodian Fees		68,998			146,563			186,517			8,968
Printing Fees		42,107			30,242			39,220			8,387
Transfer Agent Fees		28,092			25,698			28,095			23,225
Registration Fees		23,886			21,924			23,846			18,926
Audit Fees		16,653			16,653			16,653			16,653
Insurance and Other Expenses		49,015			38,734			54,092			13,937

Total Expenses		4,450,737			2,915,898			4,853,843			1,146,156
Less:
Waiver of Investment Advisory Fees		(1,179,547	)		(986,469	)		(1,510,212	)		(489,579	)
Reimbursement by Investment Adviser		(90,197	)		–			(229,596	)		(130,780	)
Advisory Waiver Recapture		–			9,226			–			–
Net Expenses		3,180,993			1,938,655			3,114,035			525,797

Net Investment Income		5,915,143			8,857,956			10,456,185			2,614,418

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC TRUST
YEAR ENDED AUGUST 31, 2022

Statements of Operations- continued

	US Equity Fund			International Equity Fund			Global Equity Fund			Tax-Managed Global Equity Fund
Net Realized and Unrealized Gain (Loss) on Investments
Net Realized Gain (Loss) on Investments Sold	$	9,648,219		$	(2,749,242	)	$	4,576,483		$	(1,083,313	)
Net Realized Gain (Loss) on Futures Contracts		125,284			(507,220	)		(130,992	)		–
Net Realized Loss on Foreign Currency Transactions		–			(165,300	)		(150,265	)		–
Net Realized Gain Received on Distributions from Registered Investment Companies		5,424,765			1,805,318			4,662,122			1,822,694
Net Realized Gain (Loss) on Swap Contracts		660,133			(51,006	)		572,241			147,716
Net Change in Unrealized Depreciation on Investments		(72,291,679	)		(65,103,314	)		(90,892,271	)		(20,742,391	)
Net Change in Unrealized Depreciation on Futures Contracts		(236,242	)		(180,592	)		(389,451	)		–
Net Change in Unrealized Depreciation on Swap Contracts		(1,091,078	)		(546,185	)		(1,088,510	)		(625,358	)
Net Change in Unrealized Appreciation (Depreciation) on Foreign Currency Transactions and Translation of other Assets and Liabilities Denominated in Foreign Currencies		36			(38,670	)		(30,835	)		–
Net Realized and Unrealized Loss on Investments, Distributions from Registered Investment Companies, Swap Contracts, Futures Contracts, Foreign Currency Transactions and Translation of other Assets and Liabilities Denominated in Foreign Currencies		(57,760,562	)		(67,536,211	)		(82,871,478	)		(20,480,652	)
Net Decrease in Net Assets Resulting from Operations	$	(51,845,419	)	$	(58,678,255	)	$	(72,415,293	)	$	(17,866,234	)

Amounts designated as “—” are $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC TRUST
YEAR ENDED AUGUST 31, 2022

Statements of Operations

	US Fixed Income Fund			Municipal Fixed Income Fund			Global Fixed Income Fund			Alternatives Fund
Investment Income:
Dividend Income	$	4,214,950		$	313,332		$	9,587,895		$	46,280
Total Investment Income		4,214,950			313,332			9,587,895			46,280

Expenses:
Investment Advisory Fees		1,160,278			189,694			2,050,403			95,197
Shareholder Servicing Fees		315,896			47,809			476,472			9,266
Administration Fees		94,486			14,792			144,467			2,729
Trustees' Fees		21,875			21,875			21,875			21,875
Chief Compliance Officer Fees		10,596			1,650			16,229			295
Legal Fees		32,912			5,108			50,117			1,053
Printing Fees		26,496			4,501			32,630			1,177
Transfer Agent Fees		25,085			22,292			26,347			21,681
Registration Fees		21,189			18,015			22,595			18,883
Custodian Fees		17,934			2,828			27,306			359
Audit Fees		16,653			16,653			16,653			16,653
Insurance and Other Expenses		18,028			11,803			21,963			11,360
							��
Total Expenses		1,761,428			357,020			2,907,057			200,528
Less:
Waiver of Investment Advisory Fees		(515,682	)		(88,793	)		(1,064,636	)		(73,058	)
Reimbursement by Investment Adviser		(191,500	)		(103,204	)		(151,535	)		(90,656	)
Net Expenses		1,054,246			165,023			1,690,886			36,814

Net Investment Income		3,160,704			148,309			7,897,009			9,466

Net Realized and Unrealized Gain (Loss) on Investments
Net Realized Loss on Investments Sold		(1,552,455	)		(38,681	)		(2,179,160	)		(11,050	)
Net Realized Gain Received on Distributions from Registered Investment Companies		571,149			54			1,568,621			–
Net Change in Unrealized Appreciation (Depreciation) on Investments		(26,496,076	)		(1,591,198	)		(56,171,336	)		493,056
Net Realized and Unrealized Gain (Loss) on Investments and Distributions from Registered Investment Companies		(27,477,382	)		(1,629,825	)		(56,781,875	)		482,006
Net Increase (Decrease) in Net Assets Resulting from Operations	$	(24,316,678	)	$	(1,481,516	)	$	(48,884,866	)	$	491,472

Amounts designated as “—” are $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

SYMMETRY PANORAMIC TRUST

Statements of Changes in Net Assets

	US Equity Fund
	Year Ended August 31, 2022			Year Ended August 31, 2021
Operations:
Net Investment Income	$	5,915,143		$	5,608,275
Net Realized Gain on Investments, Futures Contracts, Foreign Currency Transactions and Swap Contracts		15,858,401			53,963,202
Net Change in Unrealized Appreciation (Depreciation) on Investments, Futures Contracts, Swap Contracts, and Foreign Currency Transactions and Translation of other Assets and Liabilities Denominated in Foreign Currencies		(73,618,963	)		120,743,169
Net Increase (Decrease) in Net Assets Resulting from Operations		(51,845,419	)		180,314,646

Distributions		(41,595,804	)		(6,274,118	)

Capital Share Transactions:
Class I Shares:
Issued		73,723,250			75,353,617
Reinvestment of Distributions		41,595,388			6,264,504
Redeemed		(134,098,423	)		(175,576,028	)
Net Class I Share Transactions		(18,779,785	)		(93,957,907	)
Net Decrease in Net Assets from Share Transactions		(18,779,785	)		(93,957,907	)
Total Increase (Decrease) in Net Assets		(112,221,008	)		80,082,621

Net Assets:
Beginning of Year		636,243,842			556,161,221
End of Year	$	524,022,834		$	636,243,842

Share Transactions:
Class I Shares:
Issued		5,374,229			5,851,594
Reinvestment of Distributions		2,916,337			513,063
Redeemed		(9,520,501	)		(13,942,573	)
Net Decrease in Shares Outstanding from Share Transactions		(1,229,935	)		(7,577,916	)

The accompanying notes are an integral part of the financial statements.

100

SYMMETRY PANORAMIC TRUST

Statements of Changes in Net Assets

	International Equity Fund
	Year Ended August 31, 2022			Year Ended August 31, 2021
Operations:
Net Investment Income	$	8,857,956		$	4,084,019
Net Realized Gain (Loss) on Investments, Futures Contracts, Foreign Currency Transactions and Swap Contracts		(1,667,450	)		8,859,847
Net Change in Unrealized Appreciation (Depreciation) on Investments, Futures Contracts, Swap Contracts, and Foreign Currency Transactions and Translation of other Assets and Liabilities Denominated in Foreign Currencies		(65,868,761	)		61,911,001
Net Increase (Decrease) in Net Assets Resulting from Operations		(58,678,255	)		74,854,867

Distributions		(7,382,351	)		(3,768,487	)

Capital Share Transactions:
Class I Shares:
Issued		41,173,972			39,414,019
Reinvestment of Distributions		7,381,696			3,762,883
Redeemed		(43,393,393	)		(79,581,029	)
Net Class I Share Transactions		5,162,275			(36,404,127	)
Net Increase (Decrease) in Net Assets from Share Transactions		5,162,275			(36,404,127	)
Total Increase (Decrease) in Net Assets		(60,898,331	)		34,682,253

Net Assets:
Beginning of Year		325,682,991			291,000,738
End of Year	$	264,784,660		$	325,682,991

Share Transactions:
Class I Shares:
Issued		3,495,297			3,294,255
Reinvestment of Distributions		585,849			319,430
Redeemed		(3,634,729	)		(6,807,957	)
Net Increase (Decrease) in Shares Outstanding from Share Transactions		446,417			(3,194,272	)

The accompanying notes are an integral part of the financial statements.

101

SYMMETRY PANORAMIC TRUST

Statements of Changes in Net Assets

	Global Equity Fund
	Year Ended August 31, 2022			Year Ended August 31, 2021
Operations:
Net Investment Income	$	10,456,185		$	6,434,816
Net Realized Gain on Investments, Futures Contracts, Foreign Currency Transactions and Swap Contracts		9,529,589			42,205,199
Net Change in Unrealized Appreciation (Depreciation) on Investments, Futures Contracts, Swap Contracts, and Foreign Currency Transactions and Translation of other Assets and Liabilities Denominated in Foreign Currencies		(92,401,067	)		110,494,540
Net Increase (Decrease) in Net Assets Resulting from Operations		(72,415,293	)		159,134,555

Distributions		(28,308,288	)		(6,625,431	)

Capital Share Transactions:
Class I Shares:
Issued		64,422,074			68,254,536
Reinvestment of Distributions		28,307,555			6,615,548
Redeemed		(100,343,997	)		(163,926,572	)
Net Class I Share Transactions		(7,614,368	)		(89,056,488	)
Net Decrease in Net Assets from Share Transactions		(7,614,368	)		(89,056,488	)
Total Increase (Decrease) in Net Assets		(108,337,949	)		63,452,636

Net Assets:
Beginning of Year		606,740,893			543,288,257
End of Year	$	498,402,944		$	606,740,893

Share Transactions:
Class I Shares:
Issued		4,967,378			5,470,050
Reinvestment of Distributions		2,066,454			549,008
Redeemed		(7,591,026	)		(13,468,529	)
Net Decrease in Shares Outstanding from Share Transactions		(557,194	)		(7,449,471	)

The accompanying notes are an integral part of the financial statements.

102

SYMMETRY PANORAMIC TRUST

Statements of Changes in Net Assets

	Tax-Managed Global Equity Fund
	Year Ended August 31, 2022			Year Ended August 31, 2021
Operations:
Net Investment Income	$	2,614,418		$	1,253,583
Net Realized Gain on Investments, Foreign Currency Transactions and Swap Contracts		887,097			959,364
Net Change in Unrealized Appreciation (Depreciation) on Investments, Swap Contracts, and Foreign Currency Transactions and Translation of other Assets and Liabilities Denominated in Foreign Currencies		(21,367,749	)		25,978,699
Net Increase (Decrease) in Net Assets Resulting from Operations		(17,866,234	)		28,191,646

Distributions		(2,015,323	)		(1,170,435	)

Capital Share Transactions:
Class I Shares:
Issued		34,373,790			31,934,415
Reinvestment of Distributions		2,015,323			1,167,237
Redeemed		(18,595,749	)		(20,910,387	)
Net Class I Share Transactions		17,793,364			12,191,265
Net Increase in Net Assets from Share Transactions		17,793,364			12,191,265
Total Increase (Decrease) in Net Assets		(2,088,193	)		39,212,476

Net Assets:
Beginning of Year		123,670,249			84,457,773
End of Year	$	121,582,056		$	123,670,249

Share Transactions:
Class I Shares:
Issued		2,533,794			2,452,418
Reinvestment of Distributions		138,988			94,666
Redeemed		(1,376,491	)		(1,626,612	)
Net Increase in Shares Outstanding from Share Transactions		1,296,291			920,472

The accompanying notes are an integral part of the financial statements.

103

SYMMETRY PANORAMIC TRUST

Statements of Changes in Net Assets

	US Fixed Income Fund
	Year Ended August 31, 2022			Year Ended August 31, 2021
Operations:
Net Investment Income	$	3,160,704		$	3,184,099
Net Realized Gain (Loss) on Investments, Futures Contracts, Foreign Currency Transactions and Swap Contracts		(981,306	)		398,682
Net Change in Unrealized Depreciation on Investments, Futures Contracts, Swap Contracts, and Foreign Currency Transactions and Translation of other Assets and Liabilities Denominated in Foreign Currencies		(26,496,076	)		(3,854,678	)
Net Decrease in Net Assets Resulting from Operations		(24,316,678	)		(271,897	)

Distributions		(3,310,752	)		(3,593,802	)

Capital Share Transactions:
Class I Shares:
Issued		82,933,629			63,180,394
Reinvestment of Distributions		3,309,761			3,577,411
Redeemed		(64,828,411	)		(61,410,502	)
Net Class I Share Transactions		21,414,979			5,347,303
Net Increase in Net Assets from Share Transactions		21,414,979			5,347,303
Total Increase (Decrease) in Net Assets		(6,212,451	)		1,481,604

Net Assets:
Beginning of Year		258,927,543			257,445,939
End of Year	$	252,715,092		$	258,927,543

Share Transactions:
Class I Shares:
Issued		8,160,493			5,853,887
Reinvestment of Distributions		326,392			330,931
Redeemed		(6,416,600	)		(5,673,566	)
Net Increase in Shares Outstanding from Share Transactions		2,070,285			511,252

Amounts designated as “—” are $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

104

SYMMETRY PANORAMIC TRUST

Statements of Changes in Net Assets

	Municipal Fixed Income Fund
	Year Ended August 31, 2022			Year Ended August 31, 2021
Operations:
Net Investment Income	$	148,309		$	123,056
Net Realized Loss on Investments		(38,627	)		(7,504	)
Net Change in Unrealized Depreciation on Investments		(1,591,198	)		(95,944	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(1,481,516	)		19,608

Distributions		(148,461	)		(123,054	)

Capital Share Transactions:
Class I Shares:
Issued		12,892,923			16,390,588
Reinvestment of Distributions		148,445			122,633
Redeemed		(9,224,313	)		(4,882,124	)
Net Class I Share Transactions		3,817,055			11,631,097
Net Increase in Net Assets from Share Transactions		3,817,055			11,631,097
Total Increase in Net Assets		2,187,078			11,527,651

Net Assets:
Beginning of Year		38,364,975			26,837,324
End of Year	$	40,552,053		$	38,364,975

Share Transactions:
Class I Shares:
Issued		1,280,769			1,594,315
Reinvestment of Distributions		14,849			11,934
Redeemed		(922,564	)		(474,782	)
Net Increase in Shares Outstanding from Share Transactions		373,054			1,131,467

The accompanying notes are an integral part of the financial statements.

105

SYMMETRY PANORAMIC TRUST

Statements of Changes in Net Assets

	Global Fixed Income Fund
	Year Ended August 31, 2022			Year Ended August 31, 2021
Operations:
Net Investment Income	$	7,897,009		$	3,641,568
Net Realized Gain (Loss) on Investments		(610,539	)		1,253,784
Net Change in Unrealized Depreciation on Investments		(56,171,336	)		(4,286,797	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(48,884,866	)		608,555

Distributions		(8,794,995	)		(4,540,290	)

Capital Share Transactions:
Class I Shares:
Issued		82,888,271			92,377,046
Reinvestment of Distributions		8,794,378			4,532,069
Redeemed		(63,065,011	)		(92,499,263	)
Net Class I Share Transactions		28,617,638			4,409,852
Net Increase in Net Assets from Share Transactions		28,617,638			4,409,852
Total Increase (Decrease) in Net Assets		(29,062,223	)		478,117

Net Assets:
Beginning of Year		403,034,643			402,556,526
End of Year	$	373,972,420		$	403,034,643

Share Transactions:
Class I Shares:
Issued		8,191,913			8,587,314
Reinvestment of Distributions		860,003			419,466
Redeemed		(6,322,378	)		(8,553,932	)
Net Increase in Shares Outstanding from Share Transactions		2,729,538			452,848

The accompanying notes are an integral part of the financial statements.

106

SYMMETRY PANORAMIC TRUST

Statements of Changes in Net Assets

	Alternatives Fund
	Year Ended August 31, 2022			Year Ended August 31, 2021
Operations:
Net Investment Income	$	9,466		$	26,707
Net Realized Gain (Loss) on Investments		(11,050	)		5,931
Net Change in Unrealized Appreciation on Investments		493,056			111,875
Net Increase in Net Assets Resulting from Operations		491,472			144,513

Distributions		(30,464	)		—

Capital Share Transactions:
Class I Shares:
Issued		22,015,358			414,148
Reinvestment of Distributions		30,464			—
Redeemed		(880,754	)		—
Net Class I Share Transactions		21,165,068			414,148
Net Increase in Net Assets from Share Transactions		21,165,068			414,148
Total Increase in Net Assets		21,626,076			558,661

Net Assets:
Beginning of Year		1,487,944			929,283
End of Year	$	23,114,020		$	1,487,944

Share Transactions:
Class I Shares:
Issued		1,952,182			43,637
Reinvestment of Distributions		2,943			—
Redeemed		(78,390	)		—
Net Increase in Shares Outstanding from Share Transactions		1,876,735			43,637

Amounts designated as “—” are $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

107

SYMMETRY PANORAMIC US EQUITY FUND

FINANCIAL HIGHLIGHTS

Selected Per Share Date & Ratios
For a Share Outstanding
Throughout the Year or Period

Class I Shares	Year Ended August 31, 2022			Year Ended August 31, 2021			Year Ended August 31, 2020			Period Ended August 31, 2019^*
Net Asset Value, Beginning of Year/Period	$	14.91		$	11.07		$	10.58		$	10.00
Income from Operations:
Net Investment Income⁽¹⁾		0.14			0.12			0.12			0.11
Net Realized and Unrealized Gain (Loss)		(1.38	)		3.86			0.59			0.51
Total from Operations		(1.24	)		3.98			0.71			0.62
Dividends and Distributions:
Net Investment Income		(0.11	)		(0.14	)		(0.12	)		(0.04	)
Net Realized Gain		(0.91	)		—			(0.10	)		—
Total Dividends and Distributions		(1.02	)		(0.14	)		(0.22	)		(0.04	)
Net Asset Value, End of Year/Period	$	12.65		$	14.91		$	11.07		$	10.58
Total Return^†		(9.04	)%		36.19	%		6.73	%		6.26	%
Ratios and Supplemental Data
Net Assets, End of Year/Period (Thousands)	$	524,023		$	636,244		$	556,161		$	506,766
Ratio of Expenses to Average Net Assets⁽²⁾		0.55	%		0.54	%^‡		0.48	%		0.48	%^**
Ratio of Expenses to Average Net Assets (Excluding Waivers)⁽²⁾		0.77	%		0.77	%		0.76	%		0.82	%^**
Ratio of Net Investment Income to Average Net Assets^{(2) (3)}		1.02	%		0.96	%		1.15	%		1.32	%^**
Portfolio Turnover Rate		26	%		65	%		83	%		22	%^***

(1)	Calculated using average shares.
(2)	The ratio of expenses to average net assets and net investment income (loss) to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.
(3)	Recognition of net investment income (loss) by the Fund is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.
*	Commenced operations on November 12, 2018.
**	Annualized.
***	Not Annualized.
^†	Total return is for the period indicated and has not been annualized. Total return would have been lower had certain expenses not been waived and assumed by the Adviser during the period. Return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
^‡	Ratio includes previously waived advisory fees recaptured. The net expense ratio would have been lower absent the impact of the recaptured fees.

Amounts designated as “—” are $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

108

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND

FINANCIAL HIGHLIGHTS

Selected Per Share Date & Ratios
For a Share Outstanding
Throughout the Year or Period

Class I Shares	Year Ended August 31, 2022			Year Ended August 31, 2021			Year Ended August 31, 2020			Period Ended August 31, 2019^*
Net Asset Value, Beginning of Year/Period	$	13.04		$	10.33		$	10.19		$	10.00
Income from Operations:
Net Investment Income⁽¹⁾		0.35			0.16			0.25			0.23
Net Realized and Unrealized Gain (Loss)		(2.68	)		2.69			0.22			0.06
Total from Operations		(2.33	)		2.85			0.47			0.29
Dividends and Distributions:
Net Investment Income		(0.30	)		(0.14	)		(0.33	)		(0.10	)
Total Dividends and Distributions		(0.30	)		(0.14	)		(0.33	)		(0.10	)
Net Asset Value, End of Year/Period	$	10.41		$	13.04		$	10.33		$	10.19
Total Return^†		(18.28	)%		27.78	%		4.38	%		2.93	%
Ratios and Supplemental Data
Net Assets, End of Year/Period (Thousands)	$	264,785		$	325,683		$	291,001		$	264,900
Ratio of Expenses to Average Net Assets⁽²⁾		0.65	%		0.65	%^‡		0.65	%		0.65	%^**
Ratio of Expenses to Average Net Assets (Excluding Waivers)⁽²⁾		0.97	%		0.96	%		1.00	%		1.04	%^**
Ratio of Net Investment Income to Average Net Assets^{(2) (3)}		2.96	%		1.31	%		2.51	%		2.72	%^**
Portfolio Turnover Rate		35	%		28	%		88	%		24	%^***

(1)	Calculated using average shares.
(2)	The ratio of expenses to average net assets and net investment income (loss) to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.
(3)	Recognition of net investment income (loss) by the Fund is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.
*	Commenced operations on November 12, 2018.
**	Annualized.
***	Not Annualized.
^†	Total return is for the period indicated and has not been annualized. Total return would have been lower had certain expenses not been waived and assumed by the Adviser during the period. Return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
^‡	Ratio includes previously waived advisory fees recaptured. The net expense ratio would have been lower absent the impact of the recaptured fees.

The accompanying notes are an integral part of the financial statements.

109

SYMMETRY PANORAMIC GLOBAL EQUITY FUND

FINANCIAL HIGHLIGHTS

Selected Per Share Date & Ratios
For a Share Outstanding
Throughout the Year or Period

Class I Shares	Year Ended August 31, 2022			Year Ended August 31, 2021			Year Ended August 31, 2020			Period Ended August 31, 2019^*
Net Asset Value, Beginning of Year/Period	$	14.15		$	10.80		$	10.43		$	10.00
Income from Operations:
Net Investment Income⁽¹⁾		0.25			0.14			0.17			0.16
Net Realized and Unrealized Gain (Loss)		(1.95	)		3.35			0.46			0.33
Total from Operations		(1.70	)		3.49			0.63			0.49
Dividends and Distributions:
Net Investment Income		(0.20	)		(0.14	)		(0.21	)		(0.06	)
Net Realized Gain		(0.47	)		—			(0.05	)		—
Total Dividends and Distributions		(0.67	)		(0.14	)		(0.26	)		(0.06	)
Net Asset Value, End of Year/Period	$	11.78		$	14.15		$	10.80		$	10.43
Total Return^†		(12.63	)%		32.59	%		5.97	%		4.99	%
Ratios and Supplemental Data
Net Assets, End of Year/Period (Thousands)	$	498,403		$	606,741		$	543,288		$	507,434
Ratio of Expenses to Average Net Assets⁽²⁾		0.56	%		0.56	%^‡		0.52	%		0.52	%^**
Ratio of Expenses to Average Net Assets (Excluding Waivers)⁽²⁾		0.87	%		0.87	%		0.88	%		0.93	%^**
Ratio of Net Investment Income to Average Net Assets^{(2) (3)}		1.88	%		1.13	%		1.70	%		1.92	%^**
Portfolio Turnover Rate		32	%		52	%		86	%		23	%^***

(1)	Calculated using average shares.
(2)	The ratio of expenses to average net assets and net investment income (loss) to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.
(3)	Recognition of net investment income (loss) by the Fund is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.
*	Commenced operations on November 12, 2018.
**	Annualized.
***	Not Annualized.
^†	Total return is for the period indicated and has not been annualized. Total return would have been lower had certain expenses not been waived and assumed by the Adviser during the period. Return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
^‡	Ratio includes previously waived advisory fees recaptured. The net expense ratio would have been lower absent the impact of the recaptured fees.

Amounts designated as “—” are $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

110

SYMMETRY PANORAMIC TAX-MANAGED GLOBAL EQUITY FUND

FINANCIAL HIGHLIGHTS

Selected Per Share Date & Ratios
For a Share Outstanding
Throughout the Year or Period

Class I Shares	Year Ended August 31, 2022			Year Ended August 31, 2021			Year Ended August 31, 2020			Period Ended August 31, 2019^*
Net Asset Value, Beginning of Year/Period	$	14.44		$	11.05		$	10.49		$	10.00
Income from Operations:
Net Investment Income⁽¹⁾		0.28			0.16			0.13			0.08
Net Realized and Unrealized Gain (Loss)		(2.16	)		3.38			0.57			0.44
Total from Operations		(1.88	)		3.54			0.70			0.52
Dividends and Distributions:
Net Investment Income		(0.23	)		(0.15	)		(0.14	)		(0.03	)
Total Dividends and Distributions		(0.23	)		(0.15	)		(0.14	)		(0.03	)
Net Asset Value, End of Year/Period	$	12.33		$	14.44		$	11.05		$	10.49
Total Return^†		(13.28	)%		32.28	%		6.64	%		5.20	%
Ratios and Supplemental Data
Net Assets, End of Year/Period (Thousands)	$	121,582		$	123,670		$	84,458		$	27,235
Ratio of Expenses to Average Net Assets⁽²⁾		0.42	%		0.42	%		0.42	%		0.42	%^**
Ratio of Expenses to Average Net Assets (Excluding Waivers)⁽²⁾		0.91	%		0.92	%		0.99	%		1.72	%^**
Ratio of Net Investment Income to Average Net Assets^{(2) (3)}		2.08	%		1.21	%		1.26	%		0.98	%^**
Portfolio Turnover Rate		7	%		39	%		65	%		11	%^***

(1)	Calculated using average shares.
(2)	The ratio of expenses to average net assets and net investment income (loss) to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.
(3)	Recognition of net investment income (loss) by the Fund is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.
*	Commenced operations on November 12, 2018.
**	Annualized.
***	Not Annualized.
^†	Total return is for the period indicated and has not been annualized. Total return would have been lower had certain expenses not been waived and assumed by the Adviser during the period. Return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

The accompanying notes are an integral part of the financial statements.

111

SYMMETRY PANORAMIC US FIXED INCOME FUND

FINANCIAL HIGHLIGHTS

Selected Per Share Date & Ratios
For a Share Outstanding
Throughout the Year or Period

Class I Shares	Year Ended August 31, 2022			Year Ended August 31, 2021			Year Ended August 31, 2020			Period Ended August 31, 2019^*
Net Asset Value, Beginning of Year/Period	$	10.76		$	10.93		$	10.61		$	10.00
Income from Operations:
Net Investment Income⁽¹⁾		0.13			0.14			0.20			0.18
Net Realized and Unrealized Gain (Loss)		(1.09	)		(0.15	)		0.33			0.59
Total from Operations		(0.96	)		(0.01	)		0.53			0.77
Dividends and Distributions:
Net Investment Income		(0.12	)		(0.14	)		(0.20	)		(0.16	)
Net Realized Gain		(0.01	)		(0.02	)		(0.01	)		—
Total Dividends and Distributions		(0.13	)		(0.16	)		(0.21	)		(0.16	)
Net Asset Value, End of Year/Period	$	9.67		$	10.76		$	10.93		$	10.61
Total Return^†		(8.97	)%		(0.13	)%		5.02	%		7.75	%
Ratios and Supplemental Data
Net Assets, End of Year/Period (Thousands)	$	252,715		$	258,928		$	257,446		$	201,574
Ratio of Expenses to Average Net Assets⁽²⁾		0.41	%		0.41	%		0.41	%		0.41	%^**
Ratio of Expenses to Average Net Assets (Excluding Waivers)⁽²⁾		0.68	%		0.69	%		0.68	%		0.75	%^**
Ratio of Net Investment Income to Average Net Assets^{(2) (3)}		1.23	%		1.27	%		1.84	%		2.15	%^**
Portfolio Turnover Rate		56	%		6	%		10	%		16	%^***

(1)	Calculated using average shares.
(2)	The ratio of expenses to average net assets and net investment income (loss) to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.
(3)	Recognition of net investment income (loss) by the Fund is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.
*	Commenced operations on November 12, 2018.
**	Annualized.
***	Not Annualized.
^†	Total return is for the period indicated and has not been annualized. Total return would have been lower had certain expenses not been waived and assumed by the Adviser during the period. Return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

Amounts designated as “—” are $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

112

SYMMETRY PANORAMIC MUNICIPAL FIXED INCOME FUND

FINANCIAL HIGHLIGHTS

Selected Per Share Date & Ratios
For a Share Outstanding
Throughout the Year or Period

Class I Shares	Year Ended August 31, 2022			Year Ended August 31, 2021			Year Ended August 31, 2020			Period Ended August 31, 2019^*
Net Asset Value, Beginning of Year/Period	$	10.27		$	10.30		$	10.23		$	10.00
Income from Operations:
Net Investment Income⁽¹⁾		0.04			0.04			0.08			0.09
Net Realized and Unrealized Gain (Loss)		(0.40	)		(0.03	)		0.07			0.22
Total from Operations		(0.36	)		0.01			0.15			0.31
Dividends and Distributions:
Net Investment Income		(0.04	)		(0.04	)		(0.08	)		(0.08	)
Total Dividends and Distributions		(0.04	)		(0.04	)		(0.08	)		(0.08	)
Net Asset Value, End of Year/Period	$	9.87		$	10.27		$	10.30		$	10.23
Total Return^†		(3.54	)%		0.10	%		1.51	%		3.10	%
Ratios and Supplemental Data
Net Assets, End of Year/Period (Thousands)	$	40,552		$	38,365		$	26,837		$	8,643
Ratio of Expenses to Average Net Assets⁽²⁾		0.41	%		0.41	%		0.41	%		0.41	%^**
Ratio of Expenses to Average Net Assets (Excluding Waivers)⁽²⁾		0.88	%		0.94	%		1.06	%		3.23	%^**
Ratio of Net Investment Income to Average Net Assets^{(2) (3)}		0.37	%		0.39	%		0.82	%		1.10	%^**
Portfolio Turnover Rate		5	%		8	%		8	%		9	%^***

(1)	Calculated using average shares.
(2)	The ratio of expenses to average net assets and net investment income (loss) to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.
(3)	Recognition of net investment income (loss) by the Fund is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.
*	Commenced operations on November 12, 2018.
**	Annualized.
***	Not Annualized.
^†	Total return is for the period indicated and has not been annualized. Total return would have been lower had certain expenses not been waived and assumed by the Adviser during the period. Return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

The accompanying notes are an integral part of the financial statements.

113

SYMMETRY PANORAMIC GLOBAL FIXED INCOME FUND

FINANCIAL HIGHLIGHTS

Selected Per Share Date & Ratios
For a Share Outstanding
Throughout the Year or Period

Class I Shares	Year Ended August 31, 2022			Year Ended August 31, 2021			Year Ended August 31, 2020			Period Ended August 31, 2019^*
Net Asset Value, Beginning of Year/Period	$	10.76		$	10.88		$	10.82		$	10.00
Income from Operations:
Net Investment Income⁽¹⁾		0.20			0.10			0.24			0.23
Net Realized and Unrealized Gain (Loss)		(1.44	)		(0.09	)		0.09			0.81
Total from Operations		(1.24	)		0.01			0.33			1.04
Dividends and Distributions:
Net Investment Income		(0.20	)		(0.10	)		(0.25	)		(0.22	)
Net Realized Gain		(0.02	)		(0.03	)		(0.02	)		—
Total Dividends and Distributions		(0.22	)		(0.13	)		(0.27	)		(0.22	)
Net Asset Value, End of Year/Period	$	9.30		$	10.76		$	10.88		$	10.82
Total Return^†		(11.66	)%		0.06	%		3.16	%		10.58	%
Ratios and Supplemental Data
Net Assets, End of Year/Period (Thousands)	$	373,972		$	403,035		$	402,557		$	368,586
Ratio of Expenses to Average Net Assets⁽²⁾		0.43	%		0.43	%		0.43	%		0.43	%^**
Ratio of Expenses to Average Net Assets (Excluding Waivers)⁽²⁾		0.74	%		0.74	%		0.74	%		0.79	%^**
Ratio of Net Investment Income to Average Net Assets^{(2) (3)}		2.00	%		0.93	%		2.26	%		2.75	%^**
Portfolio Turnover Rate		9	%		6	%		13	%		7	%^***

(1)	Calculated using average shares.
(2)	The ratio of expenses to average net assets and net investment income (loss) to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.
(3)	Recognition of net investment income (loss) by the Fund is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.
*	Commenced operations on November 12, 2018.
**	Annualized.
***	Not Annualized.
^†	Total return is for the period indicated and has not been annualized. Total return would have been lower had certain expenses not been waived and assumed by the Adviser during the period. Return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

Amounts designated as “—” are $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

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FINANCIAL HIGHLIGHTS

Selected Per Share Date & Ratios
For a Share Outstanding
Throughout the Year or Period

Class I Shares	Year Ended August 31, 2022			Year Ended August 31, 2021			Year Ended August 31, 2020			Period Ended August 31, 2019^*
Net Asset Value, Beginning of Year/Period	$	10.45		$	9.41		$	10.00		$	10.00
Income from Operations:
Net Investment Income⁽¹⁾		0.01			0.20			0.16			0.03
Net Realized and Unrealized Gain (Loss)		1.20			0.84			(0.57	)		0.20
Total from Operations		1.21			1.04			(0.41	)		0.23
Dividends and Distributions:
Net Investment Income		(0.21	)		—			(0.17	)		(0.23	)
Return of Capital		—			—			(0.01	)		—
Total Dividends and Distributions		(0.21	)		—			(0.18	)		(0.23	)
Net Asset Value, End of Year/Period	$	11.45		$	10.45		$	9.41		$	10.00
Total Return^†		11.84	%		11.05	%		(4.14	)%		2.39	%
Ratios and Supplemental Data
Net Assets, End of Year/Period (Thousands)	$	23,114		$	1,488		$	929		$	935
Ratio of Expenses to Average Net Assets⁽²⁾		0.50	%		0.50	%		0.50	%		0.50	%^**
Ratio of Expenses to Average Net Assets (Excluding Waivers)⁽²⁾		2.72	%		7.71	%		9.46	%		31.15	%^**
Ratio of Net Investment Income to Average Net Assets^{(2) (3)}		0.13	%		1.94	%		1.67	%		0.33	%^**
Portfolio Turnover Rate		5	%		7	%		37	%		15	%^***

(1)	Calculated using average shares.
(2)	The ratio of expenses to average net assets and net investment income (loss) to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.
(3)	Recognition of net investment income (loss) by the Fund is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.
*	Commenced operations on November 12, 2018.
**	Annualized.
***	Not Annualized.
^†	Total return is for the period indicated and has not been annualized. Total return would have been lower had certain expenses not been waived and assumed by the Adviser during the period. Return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

Amounts designated as “—” are $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

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Notes to Financial Statements

1. Organization:

The Symmetry Panoramic Trust (the “Trust”) is organized as a Delaware statutory trust under an Agreement and Declaration of Trust, dated April 3, 2018. The Trust is registered under the Investment Company Act of 1940, as amended, as an open-end management investment company currently consisting of eight separate portfolios. The financial statements herein are those of the Symmetry Panoramic US Equity Fund, Symmetry Panoramic International Equity Fund, Symmetry Panoramic Global Equity Fund, Symmetry Panoramic Tax-Managed Global Equity Fund, Symmetry Panoramic US Fixed Income Fund, Symmetry Panoramic Municipal Fixed Income Fund, Symmetry Panoramic Global Fixed Income Fund and Symmetry Panoramic Alternatives Fund (each a “Fund” and collectively, the “Funds”). The investment objective of each of Symmetry Panoramic US Equity Fund, Symmetry Panoramic International Equity Fund, Symmetry Panoramic Global Equity Fund, and Symmetry Panoramic Tax-Managed Global Equity Fund is to seek long-term capital appreciation. The investment objective of Symmetry Panoramic US Fixed Income Fund is to seek total return through exposure to US fixed income securities. The investment objective of Symmetry Panoramic Municipal Fixed Income Fund is to provide current income that is exempt from federal personal income tax. The investment objective of Symmetry Panoramic Global Fixed Income Fund is to seek total return through exposure to global fixed income securities. The investment objective of Symmetry Panoramic Alternatives Fund is to seek positive long-term absolute returns. An “absolute return” seeks to earn a positive total return over the long-term, regardless of market conditions or general market direction. The Funds are classified as diversified investment companies. The Symmetry Panoramic Tax-Managed Global Equity Fund, Symmetry Panoramic US Fixed Income Fund, Symmetry Panoramic Municipal Fixed Income Fund, Symmetry Panoramic Global Fixed Income Fund, and Symmetry Panoramic Alternatives Fund are “fund of funds” and offer shareholders the opportunity to invest in certain underlying investment companies, which are separately managed series of the following investment companies: Avantis Funds, SSGA Active ETF Trust, American Century ETF Trust, AQR Funds, Dimensional Fund Advisors LP (DFA), iShares Funds, JPMorgan Asset Management and Vanguard Funds. The Symmetry Panoramic US Equity Fund, Symmetry Panoramic Global Equity Fund and Symmetry Panoramic International Equity Fund also utilize a fund of funds structure by investing in certain underlying investment companies, but also utilize at least one sub-adviser and invest directly in securities and other instruments issued by operating companies and other issuers. Symmetry Partners, LLC serves as the Funds’ investment adviser (the “Adviser”), AQR Capital Management LLC provides sub-advisory services to each of the Symmetry Panoramic US Equity Fund, Symmetry Panoramic Global Equity Fund and Symmetry Panoramic International Equity Fund, and Dimensional Fund Advisors LP provides sub-advisory services to each of the Symmetry Panoramic US Equity Fund and Symmetry Panoramic Global Equity Fund. The Funds currently offer Class I Shares. The Funds commenced operations on November 12, 2018. The assets of each Fund are segregated, and a shareholder’s interest is limited to the Fund in which shares are held.

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2. Significant Accounting Policies:

The following are significant accounting policies, which are consistently followed in the preparation of the financial statements of the Funds. The Funds are investment companies that apply the accounting and reporting guidance issued in Topic 946 by the U.S. Financial Accounting Standards Board (“FASB”).

Use of Estimates — The preparation of financial statements in conformity with United States generally accepted accounting principles (“U.S. GAAP”) requires management to make estimates and assumptions that affect the fair value of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and such differences could be material.

Security Valuation — Securities listed on a securities exchange, market or automated quotation system for which quotations are readily available (except for securities traded on NASDAQ), including securities traded over the counter, are either fair valued or valued at the last quoted sale price on an exchange or market (foreign or domestic) on which they are traded on valuation date (or at approximately 4:00 pm Eastern Standard Time if a security’s primary exchange is normally open at that time), or, if there is no such reported sale on the valuation date, at the most recent quoted bid price. For securities traded on NASDAQ, the NASDAQ Official Closing Price will be used. If available, debt securities are priced based upon valuations provided by independent, third-party pricing agents. Such values generally reflect the last reported sales price if the security is actively traded. The third-party pricing agents may also value debt securities at an evaluated bid price by employing methodologies that utilize actual market transactions, broker supplied valuations, or other methodologies designed to identify the market value for such securities. Such methodologies generally consider such factors as security prices, yields, maturities, call features, ratings and developments relating to specific securities in arriving at valuations. On the first day a new debt security purchase is recorded, if a price is not available on the automated pricing feeds from our primary and secondary pricing vendors nor is it available from an independent broker, the security may be valued at its purchase price. Each day thereafter, the debt security will be valued according to the Trust’s fair value procedures until an independent source can be secured. Debt obligations with remaining maturities of sixty days or less may be valued at their amortized cost, which approximates fair market value provided that it is determined the amortized cost continues to approximate fair value. Should existing credit, liquidity or interest rate conditions in the relevant markets and issuer specific circumstances suggest that amortized cost does not approximate fair value, then the amortized cost method may not be used. The prices for foreign securities are reported in local currency and converted to U.S. dollars using currency exchange rates.

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Investments in open-end and closed-end registered investment companies that do not trade on an exchange are valued at the end of day net asset value per share. Investments in open-end and closed-end registered investment companies that trade on an exchange are valued at the last sales price or official closing price as of the close of the customary trading session on the exchange where the security is principally traded.

Securities for which market prices are not readily available are valued in accordance with fair value procedures established by the Funds’ Board of Trustees (the “Board”). The Funds’ fair value procedures are implemented through a Fair Value Committee (the “Committee”) designated by the Board. Some of the more common reasons that may necessitate that a security be valued using fair value procedures include: the security’s trading has been halted or suspended; the security has been de-listed from a national exchange; the security’s primary trading market is temporarily closed at a time when under normal conditions it would be open; the security has not been traded for an extended period of time; the security’s primary pricing source is not able or willing to provide a price; or trading of the security is subject to local government imposed restrictions. When a security is valued in accordance with the fair value procedures, the Committee will determine the value after taking into consideration relevant information reasonably available to the Committee.

Futures contracts that are traded on an exchange are valued at their last reported sales price as of the valuation date.

Swaps are marked-to-market daily based upon the outstanding value by contract and the resulting changes in market values, if any, are recorded as an unrealized gain or loss in the Statements of Operations.

For securities that principally trade on a foreign market or exchange, a significant gap in time can exist between the time of a particular security’s last trade and the time at which the Fund calculates its net asset value. The closing prices of such securities may no longer reflect their market value at the time the Fund calculates its net asset value if an event that could materially affect the value of those securities (a “Significant Event”) has occurred between the time of the security’s last close and the time that the Fund calculates net asset value. A Significant Event may relate to a single issuer or to an entire market sector. If the Adviser becomes aware of a Significant Event that has occurred with respect to a security or group of securities after the closing of the exchange or market on which the security or securities principally trade, but before the time at which the Fund calculates its net asset value, it may request that a Committee meeting be called.

The Funds use Intercontinental Exchange Data Pricing & Reference Data, LLC. (“ICE”) as a third party fair valuation vendor. ICE provides a fair value for foreign securities held by the Funds based on certain factors and methodologies (involving,

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generally, tracking valuation correlations between the U.S. market and each non-U.S. security) applied by ICE in the event that there is a movement in the U.S. market that exceeds a specific threshold established by the Committee. The Committee has established a “confidence interval” which is used to determine the level of correlation between the value of a foreign security and movements in the U.S. market before a particular security is fair valued when the threshold is exceeded. In the event that the threshold established by the Committee is exceeded on a specific day, the Funds value the non-U.S. securities that exceed the applicable “confidence interval” based upon the fair values provided by ICE. In such event, it is not necessary to hold a Committee meeting. In the event that the Adviser believes that the fair values provided by ICE are not reliable, the Adviser contacts SEI Investments Global Funds Services (the “Administrator”) and can request that a meeting of the Committee be held.

If a local market in which the Funds own securities is closed for one or more days, the Funds shall value all securities held in that corresponding currency based on the fair value prices provided by ICE using the predetermined confidence interval discussed above.

In accordance with U.S. GAAP, the Funds disclose fair value of their investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. The objective of a fair value measurement is to determine the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). Accordingly, the fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:

●

Level 1 — Unadjusted quoted prices in active markets for identical, unrestricted assets or liabilities that the Funds have the ability to access at the measurement date;

●

Level 2 — Other significant observable inputs (includes quoted prices for similar securities, interest rates, prepayment speeds, credit risk, referenced indices, quoted prices in inactive markets, adjusted quoted prices in active markets, adjusted quoted prices on foreign equity securities that were adjusted in accordance with pricing procedures approved by the Board, etc.); and

●

Level 3 — Prices, inputs or exotic modeling techniques which are both significant to the fair value measurement and unobservable (supported by little or no market activity).

Investments are classified within the level of the lowest significant input considered in determining fair value. Investments classified within Level 3 whose fair value

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measurement considers several inputs may include Level 1 or Level 2 inputs as components of the overall fair value measurement.

Industry classifications are summarized in the Funds’ Schedules of Investments.

Federal Income Taxes — It is each Fund’s intention to qualify as a regulated investment company for Federal income tax purposes by complying with the appropriate provisions of Subchapter M of the Internal Revenue Code of 1986 (the “Code”), as amended. Accordingly, no provisions for Federal income taxes have been made in the financial statements.

The Adviser has analyzed the Funds' tax positions taken on U.S. federal income tax returns for all open tax years (current and prior three tax years), and has concluded that no provision for U.S. federal income tax is required in the Funds' financial statements. The Funds' U.S. federal and state income and U.S. federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state departments of revenue. Furthermore, the Adviser of the Funds is also not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next 12 months.

As of and during the year ended August 31, 2022, the Funds did not have a liability for any unrecognized tax benefits. The Funds recognize interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the Statements of Operations. During the year ended August 31, 2022, the Funds did not incur any significant interest or penalties.

Security Transactions and Investment Income — Security transactions are accounted for on trade date for financial reporting purposes. Costs used in determining realized gains and losses on the sale of investment securities are based on the specific identification method. Dividend income is recorded on the ex-dividend date. Certain dividends from foreign securities will be recorded as soon as the Funds are informed of the dividend if such information is obtained subsequent to the ex-dividend date.

Foreign Taxes — The Symmetry Panoramic International Equity Fund, the Symmetry Panoramic Global Equity Fund, the Symmetry Panoramic Tax-Managed Global Equity Fund and the Symmetry Panoramic Global Fixed Income Fund may be subject to foreign withholding or other foreign income taxes with respect to dividends or interest received from (and, in some cases, gains recognized on shares of stock of) non-U.S. companies. The Funds accrue and apply such taxes to net investment income, net realized gains and net unrealized gains as income and/or capital gains are earned.

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Foreign Currency Translation — The books and records of the Funds are maintained in U.S. dollars. Investment securities and other assets and liabilities denominated in a foreign currency are translated into U.S. dollars on the date of valuation. The Funds do not isolate that portion of realized or unrealized gains and losses resulting from changes in the foreign exchange rate from fluctuations arising from changes in the market prices of the securities. These gains and losses are included in net realized gains and losses on investments and net change in unrealized appreciation (depreciation) on investments on the Statements of Operations. Net realized and unrealized gains and losses on foreign currency transactions represent net foreign exchange gains or losses from foreign currency exchange contracts, disposition of foreign currencies, currency gains or losses realized between trade and settlement dates on securities transactions and the difference between the amount of the investment income and foreign withholding taxes recorded on the Funds’ books and the U.S. dollar equivalent amounts actually received or paid.

Futures Contracts — Symmetry Panoramic US Equity Fund, Symmetry Panoramic International Equity Fund, and Symmetry Panoramic Global Equity Fund all utilized futures contracts during the year ended August 31, 2022. To the extent consistent with its investment objective and strategies, the Funds may use futures contracts for tactical hedging purposes as well as to enhance the Fund’s returns. Initial margin deposits of cash or securities are made upon entering into futures contracts. The futures contracts are valued at the settlement price established each day by the board of exchange on which they are traded. The futures contracts are marked-to-market daily and the resulting changes in value are accounted for as unrealized gains and losses. Variation margin payments are paid or received, depending upon whether unrealized gains or losses are incurred. When the futures contract is closed, the Funds record a realized gain or loss equal to the difference between the proceeds from (or cost of) the closing transaction and the amount invested in the futures contract.

Risks of entering into futures contracts include the possibility that there will be an imperfect price correlation between the futures and the underlying securities. Second, it is possible that a lack of liquidity for futures contracts could exist in the secondary market, resulting in an inability to close a position prior to its maturity date. Third, the futures contract involves the risk that a Fund could lose more than the original margin deposit required to initiate a futures transaction.

Finally, the risk exists that losses could exceed amounts disclosed on the Statements of Assets and Liabilities. Refer to the Fund’s Schedule of Investments for details regarding open futures contracts as of August 31, 2022.

For the year ended August 31, 2022, the average monthly notional amount of futures contracts held were as follows:

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Symmetry Panoramic US Equity Fund

Symmetry Panoramic International Equity Fund

Symmetry Panoramic Global Equity Fund

Average Monthly

Notional Balance Long

1,660,658

5,531,667

5,571,487

Swap Contracts — The Funds are authorized to enter into swap agreements, including total return swaps. Swaps are a two-party contract in which the seller (buyer) will pay to the buyer (seller) the difference between the current value of a security and its value at the time the contract was entered.

Total return swap agreements are contracts in which one party agrees to make periodic payments based on the change in market value of underlying assets, which may include a specified security, futures contract, basket of securities or futures contracts, defined portfolios of bonds, loans and mortgages, or securities indices during the specified period, in return for periodic payments based on a fixed or variable interest rate or the total return from other underlying assets. Total return swap agreements may be used to obtain exposure to a security, commodity or market without owning or taking physical custody of such security, commodity or market. The total return includes appreciation or depreciation on the underlying asset, plus any interest or dividend payments. Payments under the swap are based upon an agreed upon principal amount but, since the principal amount is not exchanged, it represents neither an asset nor a liability to either counterparty, and is referred to as notional. Total return swaps are marked-to-market daily using different sources, including quotations from counterparties, pricing services, brokers or market makers. The unrealized appreciation or depreciation related to the change in the valuation of the notional amount of the swap is combined with the amount due to the Fund at termination or settlement. The primary risks associated with total return swaps are credit risks (if the counterparty fails to meet its obligations) and market risk (if there is no liquid market for the swap or unfavorable changes occur to the underlying reference instrument).

Periodic payments made or received are recorded as realized gains or losses. At period end, the Statements of Assets and Liabilities reflect, if any, unrealized appreciation or depreciation and accrued periodic payments for swap contracts the Fund may have open at period end. Entering into swap contracts involves, to varying degrees, elements of credit, interest rate and market risk in excess of the amounts recognized on the Statements of Assets and Liabilities. Such risks involve the possibility that there will be no liquid market for these contracts, that the counterparty to the contract may default on its obligation to perform and that there may be unfavorable changes in market conditions or fluctuations in interest rates. Swap contracts outstanding at

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period end, if any, are listed on the Schedules of Investments. In connection with swap contracts, cash or securities may be segregated as collateral by the Funds’ custodian.

There is the risk that the counterparty refuses to continue to enter into swap agreements with the Funds in the future, or requires increased fees, which could impair the Funds’ ability to achieve its investment objective. A counterparty may also increase its collateral requirements, which may limit the Funds’ ability to use leverage and reduce investment returns. In addition, if the Funds cannot locate a counterparty willing to enter into transactions with the Funds, it will not be able to implement its investment strategy. As of August 31, 2022, Symmetry Panoramic US Equity Fund, Symmetry Panoramic International Equity Fund, Symmetry Panoramic Global Equity Fund, and Symmetry Panoramic Tax-Managed Global Equity Fund have swap agreements with one counterparty, ReFlow Fund, LLC (“ReFlow”).

The Funds may participate in a variety of liquidity programs offered by ReFlow. These include the ReFlow Redemption Service and ReFlow NAVswap. The ReFlow Redemption Service provides participating funds with a source of cash to meet net shareholder redemptions by standing ready each business day to purchase fund shares up to the value of the net shares redeemed from the fund, subject to certain limitations. Following purchases of fund shares, ReFlow then generally redeems those shares when the fund experiences net sales, at the end of a maximum holding period determined by ReFlow, or at other times at ReFlow’s discretion. In the event a Fund uses the ReFlow Redemption Service, the Fund will pay a fee to ReFlow each time ReFlow purchases Fund shares, calculated by multiplying the value of shares ReFlow purchases by a rate determined through an automated daily auction. In accordance with federal securities laws, ReFlow is prohibited from acquiring more than 3% of the outstanding voting securities of the Fund.

ReFlow NAVswap is an International Swaps and Derivatives Association governed total return swap in which a fund receives a return that corresponds to the daily change in the reference fund’s net asset value. In return, the fund pays Secured Overnight Financing Rate (SOFR) plus a spread. By participating in the ReFlow programs, a fund may maintain a cash balance to meet redemptions without suffering a significant cash drag. In an environment of declining market values, a fund participating in the ReFlow programs may experience a greater decrease in value than it would if it did not participate in the programs and instead maintained a higher cash balance.

For the year ended August 31, 2022, the monthly average balances of swap contracts held by the Funds was as follows:

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Symmetry Panoramic US Equity Fund

Symmetry Panoramic International Equity Fund

Symmetry Panoramic Global Equity Fund

Symmetry Panoramic Tax-Managed Global Equity Fund

Average Monthly

Notional Balance Long

7,671,753

3,270,036

6,108,991

2,622,988

For the year ended August 31, 2022, the Symmetry Panoramic US Equity Fund, Symmetry Panoramic International Equity Fund, Symmetry Panoramic Global Equity Fund, and Symmetry Panoramic Tax-Managed Global Equity Fund only held equity risk derivatives. Additional information can be found on the Schedules of Investments, Statements of Assets and Liabilities and the Statements of Operations.

Offsetting Assets and Liabilities — The Funds may be subject to various Master Netting Arrangements with various netting arrangements with select counterparties (“Master Agreements”). Master Agreements govern the terms of certain transactions, and reduce the counterparty risk associated with relevant transactions by specifying credit protection mechanisms and providing standardization that improves legal certainty.

Since different types of transactions have different mechanics and are sometimes traded out of different legal entities of a particular counterparty organization, each type of transaction may be covered by a different Master Agreement, resulting in the need for multiple agreements with a single counterparty. As the Master Agreements are specific to unique operations of different asset types, they allow a Fund to close out and net its total exposure to a specific counterparty entity in the event of a default with respect to all the transactions governed under a single agreement with a specific counterparty entity.

Master Agreements can also help limit counterparty risk by specifying collateral posting arrangements at pre-arranged exposure levels. Under the Master Agreements, collateral is routinely transferred if the total net exposure to certain transactions (net of existing collateral already in place) governed under the relevant Master Agreement with a counterparty in a given account exceeds a specified threshold, which typically ranges from zero to $450,000 depending on the counterparty and the type of Master Agreement. United States Treasury Securities and U.S. dollar cash are generally the preferred forms of collateral. Securities and cash pledged as collateral are reflected as assets on the Statements of Assets and Liabilities as either a component of investments at value (securities) or cash pledged as collateral for futures contracts and swap contracts (cash). The market value of any securities received as collateral is not reflected as a component of net asset value. A Fund’s overall exposure to counterparty risk can change substantially within a short period, as it is affected by each transaction subject to the relevant Master Agreement.

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Investments in Real Estate Investment Trusts (“REITs”) — Dividend income from REITs is recorded based on the income included in distributions received from the REIT investments using published REIT reclassifications, including some management estimates when actual amounts are not available. Distributions received in excess of this estimated amount are recorded as a reduction of the cost of investments or reclassified to capital gains. The actual amounts of income, return of capital, and capital gains are only determined by each REIT after its fiscal year-end, and may differ from the estimated amounts.

Expenses — Most expenses of the Trust can be directly attributed to a particular Fund. Expenses which cannot be directly attributed to a particular Fund are apportioned among the Funds evenly and/or based on relative net assets.

Cash Equivalents — Idle cash and currency balances may be swept into various overnight sweep accounts and is classified as cash on the Statements of Assets and Liabilities. Funds maintain cash in bank deposit accounts which, at times, may exceed United States federally insured limits. Amounts swept are available on the next business day.

Dividends and Distributions to Shareholders — Income dividends are derived from net investment income (i.e., interest and other income, less any related expenses) a Fund earns from its portfolio securities and other investments. Capital gain distributions are derived from gains realized when a Fund sells a portfolio security. Long-term capital gains are derived from gains realized when a Fund sells a portfolio security it has owned for more than one year, and short-term capital gains are derived from gains realized when a portfolio security was owned for one year or less. Distributions received from underlying funds can be classified as either ordinary income, return of capital, or long-term capital gains.

Dividends from net investment income and distributable net realized capital gains, if any, are declared and distributed annually by the Funds. Dividends from net investment income and distributions from net realized gains are recorded on the ex-dividend date and are determined in accordance with federal income tax regulations, which may differ from GAAP. These “book/tax” differences are considered either temporary (e.g., deferred losses, capital loss carryforwards) or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the composition of net assets based on their Federal tax-basis treatment; and temporary differences do not require reclassification. Any such reclassifications will have no effect on net assets, results of operations or net asset values per share of each Fund.

The Symmetry Panoramic US Equity Fund, the Symmetry Panoramic International Equity Fund, the Symmetry Panoramic Global Equity Fund, the Symmetry Panoramic Tax-Managed Global Equity Fund, and the Symmetry Panoramic Alternatives Fund

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each intend to distribute substantially all of their net investment income and net capital gains, if any, at least annually, or more frequently as determined to be appropriate by the Adviser. The Symmetry Panoramic US Fixed Income Fund, the Symmetry Panoramic Municipal Fixed Income Fund, and the Symmetry Panoramic Global Fixed Income Fund each intend to distribute substantially all of their net investment income and net capital gains, if any, monthly.

Interfund Lending — The Funds have entered into an interfund lending and borrowing facility, pursuant to which: (i) each Fund could lend money directly to and borrow money directly from other Funds within the Trust for temporary defensive purposes, namely to cover unanticipated cash shortfalls, such as unanticipated redemptions or sales fails; and (ii) the Funds will not borrow under the facility for leverage purposes and the loans’ duration will be no more than 7 days. This interfund lending facility is intended to provide a borrowing Fund with a source of liquidity at a rate lower than the bank borrowing rate at times when the cash position of the Fund is insufficient to meet temporary cash requirements. In addition, Funds making short-term cash loans directly to other Funds would earn interest at a rate higher than these Funds otherwise could obtain from investing the Funds’ cash in repurchase agreements or certain other short term money market instruments. Thus, this interfund lending facility is expected to benefit both borrowing and lending Funds. For the year ending August 31, 2022, the Symmetry US Fixed Income Fund borrowed $550,000 at a rate of 1.81% on May 3, 2022 from the Symmetry Global Fixed Income Fund. For the year ending August 31, 2022, the Symmetry Alternatives Fund borrowed $275,000 at a rate of 2.31% on May 16, 2022 from the Symmetry Global Fixed Income Fund. There were no outstanding loan balances as of August 31, 2022.

3. Transactions with Affiliates:

Certain officers of the Trust are also employees of the Administrator, a wholly-owned subsidiary of SEI Investments Company, SEI Investments Distribution Co. (the “Distributor”) and/or Atlantic Consulting Services, LLC (now part of the Apex Group Ltd.) (“Atlantic Consulting”). Such officers are paid no fees directly by the Trust for serving as officers of the Trust.

The services provided by the Chief Compliance Officer (“CCO”) and the CCO’s staff, who are employees of Atlantic Consulting are paid for by the Trust as incurred pursuant to a Compliance Services Agreement between the Trust and Atlantic Fund Services. The services include regulatory oversight of the Trust’s Adviser and other service providers as required by SEC regulations. The CCO’s services and fees have been approved by and are reviewed by the Board.

4. Administration, Distribution, Shareholder Servicing, Custodian and Transfer Agent Agreements:

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The Funds and the Administrator are parties to an Administration Agreement under which the Administrator provides administration services to the Funds. For these services, the Administrator is paid an asset based fee, which will vary depending on the number of share classes and the average daily net assets of the Funds. For the year ended August 31, 2022, the Funds were charged as follows for these services:

Fund	Administration Fee
Symmetry Panoramic US Equity Fund	$	212,396
Symmetry Panoramic International Equity Fund		109,535
Symmetry Panoramic Global Equity Fund		204,215
Symmetry Panoramic Tax-Managed Global Equity Fund		45,997
Symmetry Panoramic US Fixed Income Fund		94,486
Symmetry Panoramic Municipal Fixed Income Fund		14,792
Symmetry Panoramic Global Fixed Income Fund		144,467
Symmetry Panoramic Alternatives Fund		2,729

The Distributor serves as each Fund’s Distributor pursuant to a Distribution Agreement with the Trust.

The Bank of New York Mellon acts as custodian (the “Custodian”) for the Funds. The Custodian plays no role in determining the investment policies of the Funds or which securities are to be purchased or sold by the Funds.

Apex Fund Services serves as the transfer agent and dividend disbursing agent for the Funds under a transfer agency agreement with the Trust.

5. Investment Advisory Agreement:

The Adviser has entered into an investment advisory agreement with each Fund. For its services to the Funds, the Adviser is entitled to a fee, which is calculated daily and paid monthly, at an annual rate disclosed below based on the average daily net assets of each of the Funds. Subject to general oversight by the Board of Trustees, the Adviser manages and supervises the investment operations and business affairs of the Funds. The Adviser may select, contract with and compensate one or more sub-advisers to manage all or a portion of a Fund’s portfolio assets, subject to oversight by the Adviser. In this role, the Adviser has supervisory responsibility for managing the investment and reinvestment of each Fund’s portfolio assets through proactive oversight and monitoring of each sub-adviser and the Fund, as described in further detail below. The Adviser is responsible for

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developing overall investment strategies for the Funds and overseeing and implementing each Fund’s continuous investment programs and provides a variety of advisory oversight and investment research services. The Adviser also provides management and transition services associated with certain fund events (e.g., strategy, portfolio manager or sub-adviser changes) and coordinates and oversees services provided under other agreements. The Adviser has ultimate responsibility to oversee a sub-adviser and recommend to the Board of Trustees its hiring, termination, and replacement. In this capacity, the Adviser, among other things: (i) monitors on a daily basis the compliance of the sub-adviser with the investment objectives and related policies of the Fund; (ii) monitors significant changes that may impact the sub-adviser’s overall business and regularly performs due diligence reviews of the sub-adviser; (iii) reviews the performance of the sub-adviser; and (iv) reports periodically on such performance to the Board of Trustees. The Adviser employs a team of investment professionals who provide these ongoing research and monitoring services.

In addition to investment advisory fees, each Fund pays other expenses including costs incurred in connection with the maintenance of its securities law registration, printing and mailing prospectuses and statements of additional information to shareholders, certain financial accounting services, taxes or governmental fees, custodial, transfer and shareholder servicing agent costs, expenses of outside counsel and independent accountants, preparation of shareholder reports and expenses of trustee and shareholders meetings.

The Adviser has agreed to limit each Fund’s current Operating Expenses to an annual rate, expressed as a percentage of the Fund’s average daily net assets for the month, to the amounts listed in the below table until at least December 31, 2022 (the “Expense Limitation”). For purposes of the Expense Limitation, the term “Operating Expenses” with respect to the Funds is defined to include all expenses necessary or appropriate for the operation of a Fund and including the Adviser’s investment advisory fee detailed in the advisory agreement, any Rule 12b-l fees and/or shareholder services fees and other expenses described in the advisory agreement, but does not include: (i) any front-end or contingent deferred loads; (ii) brokerage fees and commissions, (iii) acquired fund fees and expenses; (iv) borrowing costs (such as interest and dividend expense on securities sold short); (v) taxes; and (vi) extraordinary expenses, such as litigation expenses (which may include indemnification of a Fund’s officers and Trustees, and contractual indemnification of an affected Fund’s service providers (other than the Adviser)).

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	Expense Limitation
Symmetry Panoramic US Equity Fund		0.55%
Symmetry Panoramic International Equity Fund		0.65%
Symmetry Panoramic Global Equity Fund		0.56%
Symmetry Panoramic Tax-Managed Global Equity Fund		0.42%
Symmetry Panoramic US Fixed Income Fund		0.41%
Symmetry Panoramic Municipal Fixed Income Fund		0.41%
Symmetry Panoramic Global Fixed Income Fund		0.43%
Symmetry Panoramic Alternatives Fund		0.50%

The Adviser also has contractually agreed to waive its advisory fee for each of the Funds until at least December 31, 2022 (“Fee Waiver”) so that the aggregate annual advisory fee retained by the Adviser with respect to each of the Funds after payment of sub-advisory fees does not exceed the amount shown under the “Fee Waiver” column in the following table:

	Advisory Fee Before Fee Waiver		Fee Waiver
Symmetry Panoramic US Equity Fund		0.55%		0.25%
Symmetry Panoramic International Equity Fund		0.70%		0.25%
Symmetry Panoramic Global Equity Fund		0.63%		0.25%
Symmetry Panoramic Tax-Managed Global Equity Fund		0.65%		0.26%
Symmetry Panoramic US Fixed Income Fund		0.45%		0.25%
Symmetry Panoramic Municipal Fixed Income Fund		0.47%		0.25%
Symmetry Panoramic Global Fixed Income Fund		0.52%		0.25%
Symmetry Panoramic Alternatives Fund		1.29%		0.30%

The Adviser may recover all or a portion of the Expense Limitation within a three-year rolling period from the year in which it reduced its fee or reimbursed expenses if a Fund’s total annual operating expenses are below the Expense Limitation that was in place at the time of such fee reductions or expense reimbursements. The Expense Limitation and Fee Waiver agreements may be terminated by the Board of Trustees without penalty on 60 days’ written notice to the Adviser. The Expense Limitation and Fee Waiver agreements shall terminate automatically in the event of assignment of the investment advisory agreement.

For the year ended August 31, 2022, the Adviser recaptured previously waived fees of $9,226 for the Symmetry Panoramic International Equity Fund.

As of August 31, 2022, the amounts of waivers/reimbursements subject to recoupment are as follows:

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	Amount expiring in 2023		Amount expiring in 2024		Amount expiring in 2025
Symmetry Panoramic US Equity Fund	$	249,142	$	108,126	$	90,197
Symmetry Panoramic International Equity Fund		89,518		22,628		—
Symmetry Panoramic Global Equity Fund		412,180		247,654		229,596
Symmetry Panoramic Tax-Managed Global Equity Fund		93,220		113,110		130,780
Symmetry Panoramic US Fixed Income Fund		166,041		201,285		191,500
Symmetry Panoramic Municipal Fixed Income Fund		77,251		97,750		103,204
Symmetry Panoramic Global Fixed Income Fund		142,780		152,426		151,535
Symmetry Panoramic Alternatives Fund		72,901		85,801		90,656

The Adviser has engaged AQR Capital Management, LLC (“AQR”) and Dimensional Fund Advisors LP (“DFA”) to provide sub-advisory services to each of the Symmetry Panoramic US Equity Fund, Symmetry Panoramic International Equity Fund and Symmetry Panoramic Global Equity Fund (together, the “Sub-Advised Funds”). The Adviser, however, has not yet allocated any assets of the Symmetry Panoramic International Equity Fund to DFA. The Adviser pays AQR and DFA a portion of its fee, calculated daily and paid monthly. The Sub-Advised Funds are not responsible for the payment of the sub-advisory fees.

A Trustee and certain Officers are also employees/officers of the Adviser.

6. Investment Transactions:

The cost of security purchases and the proceeds from security sales other than short-term securities, for the year ended August 31, 2022, were as follows:

		Purchases		Sales and Maturities
Symmetry Panoramic US Equity Fund	$	148,913,768	$	183,684,503
Symmetry Panoramic International Equity Fund		110,298,725		101,286,239
Symmetry Panoramic Global Equity Fund		176,095,833		195,536,561
Symmetry Panoramic Tax-Managed Global Equity Fund		31,879,020		8,002,730
Symmetry Panoramic US Fixed Income Fund		165,224,631		143,952,172
Symmetry Panoramic Municipal Fixed Income Fund		5,728,814		2,029,117
Symmetry Panoramic Global Fixed Income Fund		75,361,131		35,875,635

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			Purchases				Sales and Maturities
Symmetry Panoramic Alternatives Fund		$	20,672,716			$	397,252

7. Federal Tax Information:

The amount and character of income and capital gain distributions to be paid, if any, are determined in accordance with Federal income tax regulations, which may differ from U.S. GAAP. These book/tax differences may be temporary or permanent. To the extent these differences are permanent in nature, they are charged or credited to paid-in capital or distributable earnings, as appropriate, in the period that the differences arise. The permanent differences relate to tax adjustments for gains on redemption in-kind and equalization. The following permanent differences were credited or charged to Paid-in Capital or Distributable Earnings as of August 31, 2022:

	Distributable Earnings			Paid in Capital
Symmetry Panoramic US Equity Fund	$	(6,171,007	)	$	6,171,007
Symmetry Panoramic Global Equity Fund		(1,261,530	)		1,261,530
Symmetry Panoramic Municipal Fixed Income Fund		3			(3	)
Symmetry Panoramic Alternatives Fund		1,230			(1,230	)

The tax character of dividends and distributions declared during the fiscal years ended August 31, 2022 and 2021 were as follows:

	Ordinary Income		Long-Term Capital Gain		Tax Exempt Income		Total
Symmetry Panoramic US Equity Fund
2022	$	29,786,484	$	11,809,320	$	—	$	41,595,804
2021		6,274,118		—		—		6,274,118
Symmetry Panoramic International Equity Fund
2022		7,382,351		—		—		7,382,351
2021		3,768,487		—		—		3,768,487

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	Ordinary Income		Long-Term Capital Gain		Tax Exempt Income		Total
Symmetry Panoramic Global Equity Fund
2022	$	25,758,968	$	2,549,320	$	—	$	28,308,288
2021		6,625,431		—		—		6,625,431
Symmetry Panoramic Tax-Managed Global Equity Fund
2022		2,015,323		—		—		2,015,323
2021		1,170,435		—		—		1,170,435
Symmetry Panoramic US Fixed Income Fund
2022		3,147,380		163,372		—		3,310,752
2021		3,535,314		58,488		—		3,593,802
Symmetry Panoramic Municipal Fixed Income Fund
2022		—		—		148,461		148,461
2021		—		—		123,054		123,054
Symmetry Panoramic Global Fixed Income Fund
2022		7,996,330		798,665		—		8,794,995
2021		4,540,290		—		—		4,540,290
Symmetry Panoramic Alternatives Fund
2022		30,464		—		—		30,464
2021		—		—		—		—

As of August 31, 2022, the components of Distributable Earnings on a tax basis were as follows:

	Symmetry Panoramic US Equity Fund			Symmetry Panoramic International Equity Fund			Symmetry Panoramic Global Equity Fund			Symmetry Panoramic Tax-Managed Global Equity Fund
Undistributed Ordinary Income	$	16,624,300		$	3,601,039		$	12,991,344		$	913,379
Undistributed Long-Term Capital Gain		–			–			710,387			–
Undistributed Tax-Exempt Income		–			–			–			–
Post-October Losses		–			(1,533,531	)		–			–
Late-Year Loss Deferral		–			–			–			–
Capital Loss Carryforwards		–			(11,598,140	)		–			(533,003	)
Unrealized Appreciation		127,808,454			25,535,964			88,169,671			13,743,334
Other Temporary Differences		(1	)		(2	)		(4	)		(2	)
Total Distributable Earnings	$	144,432,753		$	16,005,330		$	101,871,398		$	14,123,708

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	Symmetry Panoramic US Fixed Income Fund			Symmetry Panoramic Municipal Fixed Income Fund			Symmetry Panoramic Global Fixed Income Fund			Symmetry Panoramic Alternatives Fund
Undistributed Ordinary Income	$	13,551		$	–		$	18,431		$	4,836
Undistributed Tax-Exempt Income		–			319			–			–
Post-October Losses		(616,378	)		(36,607	)		(548,258	)		(1,668	)
Late-Year Loss Deferral		–			–			–			–
Capital Loss Carryforwards		(32,407	)		(7,439	)		–			(28,634	)
Unrealized Appreciation/(Depreciation)		(12,987,849	)		(1,432,736	)		(32,821,067	)		595,315
Other Temporary Differences		(1	)		3			–			–
Total Distributable Earnings (Accumulated Losses)	$	(13,623,084	)	$	(1,476,460	)	$	(33,350,894	)	$	569,849

Post-October losses represent losses realized on investment transactions from November 1, 2021 through August 31, 2022, that, in accordance with Federal income tax regulations, the Funds elect to defer and treat as having arisen in the following fiscal year.

Deferred late-year losses represent ordinary losses realized on investment transactions from January 1, 2022 through August 31, 2022 and specified losses realized on investment transactions from November 1, 2021 through August 31, 2022.

The Symmetry Panoramic International Equity Fund, Symmetry Panoramic US Fixed Income Fund, Symmetry Panoramic Municipal Fixed Income Fund, Symmetry Panoramic Global Fixed Income Fund and Symmetry Panoramic Alternatives Fund had Post-October losses of $1,533,531, $616,378, $36,607, $548,258 and $1,668, respectively. The funds elect to treat each as having arisen in the following fiscal year.

For Federal income tax purposes, capital loss carryforwards may be carried forward and indefinitely applied against all future capital gains. The Funds have capital losses carried forward as follows:

	Short-Term Loss		Long-Term Loss		Total
Symmetry Panoramic International Equity Fund	$	5,705,729	$	5,892,411	$	11,598,140
Symmetry Panoramic Tax-Managed Global Equity Fund		533,003		—		533,003
Symmetry Panoramic US Fixed Income Fund		32,407		—		32,407
Symmetry Panoramic Municipal Fixed Income Fund		7,439		—		7,439
Symmetry Panoramic Alternatives Fund		22,807		5,827		28,634

For federal income tax purposes, the cost of securities owned at August 31, 2022, and the net realized gains or losses on securities sold for the period, were different from amounts reported for financial reporting purposes primarily due to wash sales and Passive Foreign Investment Company adjustments, which cannot be used for Federal income tax purposes in the current year and have been deferred for use in future years.

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The Federal tax cost and aggregate gross unrealized appreciation and depreciation for the investments held by the Funds at August 31, 2022, were as follows:

	Federal Tax Cost		Aggregate Gross Unrealized Appreciation		Aggregate Gross Unrealized Depreciation			Net Unrealized Appreciation (Depreciation)
Symmetry Panoramic US Equity Fund	$	395,955,755	$	134,956,855	$	(7,148,401	)	$	127,808,454
Symmetry Panoramic International Equity Fund		238,379,951		30,398,808		(4,862,844	)		25,535,964
Symmetry Panoramic Global Equity Fund		408,938,271		96,347,202		(8,177,531	)		88,169,671
Symmetry Panoramic Tax-Managed Global Equity Fund		109,137,613		14,699,482		(956,148	)		13,743,334
Symmetry Panoramic US Fixed Income Fund		264,709,413		—		(12,987,849	)		(12,987,849	)
Symmetry Panoramic Municipal Fixed Income Fund		42,067,415		—		(1,432,736	)		(1,432,736	)
Symmetry Panoramic Global Fixed Income Fund		405,959,411		—		(32,821,067	)		(32,821,067	)
Symmetry Panoramic Alternatives Fund		21,864,184		606,208		(10,893	)		595,315

8. In-Kind Transfer:

During the year ended August 31, 2022, the Symmetry Panoramic US Equity Fund had an investor accept securities in lieu of cash.

	Shares Redeemed		Value of Securities			Cash	Total		Realized Gain
Symmetry Panoramic US Equity Fund		279,260	$	3,692,593	$	122,100	$	3,814,693	$	1,890,797

9. Concentration of Risks:

As with all mutual funds, there is no guarantee that any of the Funds will achieve the Fund’s investment objective. You could lose money by investing in the Funds. A Fund share is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (the “FDIC”) or any other government agency. The principal risk factors affecting shareholder investments in the Funds are described below.

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Please note that each of the Funds primarily will invest in shares of registered, open-end investment companies and exchange-traded funds (“ETFs”) (collectively, “Underlying Funds”), or directly in securities or other instruments. Therefore, the risks described below for each Fund are in reference to either the Underlying Funds, direct purchases of the Funds, or both unless otherwise noted.

General Risks of Investing in Underlying Funds — Because each Fund invests in Underlying Funds that invest directly in securities and other instruments, the Fund’s shareholders will be affected by the investment policies of the Underlying Funds in direct proportion to the amount of assets the Fund allocates to those Underlying Funds. Certain of the Funds also may invest in Underlying Funds that in turn invest in foreign issuers and thus are subject to additional risks, including changes in foreign currency exchange rates and country risk. Foreign investments of the Underlying Funds may include securities of issuers located in emerging countries in Asia, Latin America, Eastern Europe and Africa. The Funds also may invest in Underlying Funds that invest in mid-, small-, and micro-capitalization stocks, which may be riskier than investing in larger, more established companies.

A Fund’s investment in Underlying Funds that invest in fixed-income securities will be subject to, among other things, credit (or default) risk and interest rate/maturity risk. Credit (or default) risk is the risk that an issuer or guarantor of a security or a counterparty to a transaction may default on its payment obligations or experience a decline in credit quality. Interest rate/maturity risk is the risk that increases in prevailing interest rates will cause fixed-income securities held by the Fund to decline in value. The magnitude of this decline will often be greater for longer-term fixed-income securities than shorter-term fixed-income securities.

The Underlying Funds will also be subject to prepayment (or call) risk (the risk that an issuer will exercise its right to pay principal on an obligation held by a Fund earlier than expected) and debt extension risk (the risk that an issuer will exercise its right to pay principal on an obligation held by the Fund later than expected).

The Funds may invest in Underlying Funds that invest in asset-backed and structured investment securities, which may involve a greater chance of default during periods of economic downturn than other securities, and may be less liquid and more difficult to value and liquidate. Underlying Funds may also invest in real estate securities, commodity-related securities and money market investments.

The risks described below for each Fund are in reference to either the Underlying Funds, direct purchases of the Funds, or both unless otherwise noted.

Currency Risk — The risk for Funds with international exposures that foreign currencies will increase in value relative to the U.S. dollar and adversely affect the dollar value of the Fund’s investments in foreign (non-U.S.) currencies or in securities that trade in, and

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receive revenues in, or in derivatives that provide exposure to, foreign (non-U.S.) currencies. Currency risk may be particularly high to the extent that the Fund invests in foreign (non-U.S.) currencies or engages in foreign currency transactions that are economically tied to emerging market countries. Conversely, in strategies where currency risk is hedged, the risk is that a decline in the value of the local currency relative to the U.S. dollar will not be earned by the Fund investor.

Cybersecurity Risk — With the increased use of the Internet and because information technology systems and digital data underlie most of the Fund’s operations, the Fund and its Adviser, any Sub-Advisers, custodian, transfer agent, distributor and other service providers and the financial intermediaries (collectively “Service Providers”), is exposed to the risk that its operations and data may be compromised as a result of internal and external cyber-failures, breaches or attacks. This could occur as a result of malicious or criminal cyber-attacks. Cyber-attacks include actions taken to: (i) steal or corrupt data maintained online or digitally, (ii) gain unauthorized access to or release confidential information, (iii) shut down the Fund or Service Provider website through denial-of-service attacks, or (iv) otherwise disrupt normal business operations. However, events arising from human error, faulty or inadequately implemented policies and procedures or other systems failures unrelated to any external cyber-threat may have effects similar to those caused by deliberate cyber-attacks.

Emerging Markets Risk — A Fund with international exposure’s investments in emerging market countries are subject to all of the risks of foreign investing generally, and have additional heightened risks due to a lack of established legal, political, business and social frameworks to support securities markets. These risks include less social, political and economic stability; smaller securities markets with low or nonexistent trading volume and greater illiquidity and price volatility; more restrictive national policies on foreign investment, including restrictions on investment in issuers or industries deemed sensitive to national interests; less transparent and established taxation policies; less developed regulatory or legal structures governing private and foreign investment; more pervasiveness of corruption and crime; less financial sophistication, creditworthiness and/or resources possessed by, and less government regulation of, the financial institutions and issuers with which the Fund transacts; less government supervision and regulation of business and industry practices, stock exchanges, brokers and listed companies than in the U.S.; greater concentration in a few industries resulting in greater vulnerability to regional and global trade conditions; higher rates of inflation and more rapid and extreme fluctuations in inflation rates; greater sensitivity to interest rate changes; increased volatility in currency exchange rates and potential for currency devaluations and/or currency controls; greater debt burdens relative to the size of the economy; more delays in settling portfolio transactions and heightened risk of loss from share registration and custody practices; and less assurance that recent favorable economic developments will not be slowed or reversed by unanticipated economic, political or social events in such countries.

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Because of these risk factors, the Fund’s investments in developing market countries are subject to greater price volatility and illiquidity than investments in developed markets. Governments of emerging market and frontier market countries may own or control parts of the private sector. Accordingly, government actions could have a significant impact on economic conditions. Certain emerging market and frontier market countries require governmental approval prior to investments by foreign persons, limit the amount of investment by foreign persons in a particular sector and/or company, limit the investment by foreign persons to a specific class of securities of an issuer that may have less advantageous rights than a domestically available class, require foreign investors to maintain a trading account with only one licensed securities company in the relevant market and/or impose additional taxes on foreign investors. These may contribute to the illiquidity of the relevant securities market, as well as create inflexibility and uncertainty as to the trading environment.

Equity Risk — For Funds that invest in equity securities, such securities are susceptible to general market fluctuations and volatile increases and decreases in value as market confidence in and perceptions of their issuers change.

Financial Sector Risk — The financial sector can be significantly affected by changes in interest rates, government regulation, the rate of defaults on corporate, consumer and government debt, the availability and cost of capital, and the impact of more stringent capital requirements. The Fund may be adversely affected by events or developments negatively impacting the financial sector.

Fixed Income Securities Risk — Fixed income securities held by the Fund are subject to interest rate risk, call risk, prepayment and extension risk, credit risk, and liquidity risk, which are more fully described below. In addition, current market conditions may pose heightened risks for fixed income securities. Current interest rates are at or near historic lows, and as the Federal Reserve Board has begun tapering its quantitative easing program and in December of 2015 began raising the federal funds rate, there is a risk that interest rates will rise. Future increases in interest rates could result in less liquidity and greater volatility of fixed income securities. The Fund may lose money if short-term or long-term interest rates rise sharply. Moreover, new regulations applicable to and changing business practices of financial intermediaries restricting their market marking activities for certain fixed income securities, which may reduce the liquidity and increase the volatility for such fixed income securities.

●

Call Risk. During periods of declining interest rates, a bond issuer may “call,” or repay, its high yielding bonds before their maturity dates. The Fund would then be forced to invest the unanticipated proceeds at lower interest rates, resulting in a decline in its income.

●

Credit Risk. Fixed income securities are generally subject to the risk that the issuer may be unable to make principal and interest payments when they are due.

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There is also the risk that the securities could lose value because of a loss of confidence in the ability of the borrower to pay back debt. Lower rated fixed income securities involve greater credit risk, including the possibility of default or bankruptcy.

●

Interest Rate Risk. Fixed income securities are subject to the risk that the securities could lose value because of interest rate changes. For example, bonds tend to decrease in value if interest rates rise. Fixed income securities with longer maturities sometimes offer higher yields, but are subject to greater price shifts as a result of interest rate changes than fixed income securities with shorter maturities.

●

Liquidity Risk. Trading opportunities are more limited for fixed income securities that have not received any credit ratings, have received ratings below investment grade or are not widely held. These features make it more difficult to sell or buy a security at a favorable price or time. Consequently, the Fund may have to accept a lower price to sell a security, sell other securities to raise cash or give up an investment opportunity, any of which could have a negative effect on its performance. Infrequent trading of securities may also lead to an increase in their price volatility. Liquidity risk also refers to the possibility that the Fund may not be able to sell a security or close out an investment contract when it wants to. If this happens, the Fund will be required to hold the security or keep the position open, and it could incur losses.

●

Prepayment and Extension Risk. Many types of fixed income securities are subject to prepayment risk. Prepayment occurs when the issuer of a fixed income security can repay principal prior to the security’s maturity. Fixed income securities subject to prepayment can offer less potential for gains during a declining interest rate environment and similar or greater potential for loss in a rising interest rate environment. In addition, the potential impact of prepayment features on the price of a fixed income security can be difficult to predict and result in greater volatility. On the other hand, rising interest rates could cause prepayments of the obligations to decrease, extending the life of mortgage- and asset-backed securities with lower payment rates. This is known as extension risk and may increase the Fund’s sensitivity to rising rates and its potential for price declines.

●

Variable and Floating Rate Securities. Variable and floating rate securities generally are less sensitive to interest changes but may decline in value if their interest rates do not rise as much, or as quickly, as interest rates in general. Floating rate securities will not generally increase in value if interest rates decline.

Special Risks of Foreign Securities — Foreign securities involve special risks and costs, which are considered by the investment adviser in evaluating the creditworthiness of issuers and making investment decisions for the Fund. Foreign securities fluctuate in price

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because of political, financial, social and economic events in foreign countries (including, for example, military confrontations, war and terrorism). A foreign security could also lose value because of more or less stringent foreign securities regulations and less stringent accounting and disclosure standards. In addition, foreign markets may have greater volatility than domestic markets and foreign securities may be less liquid and harder to value than domestic securities.

Foreign securities, and in particular foreign debt securities, are sensitive to changes in interest rates. In addition, investment in the securities of foreign governments involves the risk that foreign governments may default on their obligations or may otherwise not respect the integrity of their obligations. The performance of investments in securities denominated in a foreign currency also will depend, in part, on the strength of the foreign currency against the U.S. dollar and the interest rate environment in the country issuing the currency. Absent other events which otherwise could affect the value of a foreign security (such as a change in the political climate or an issuer’s credit quality), appreciation in the value of the foreign currency generally results in an increase in value of a foreign currency-denominated security in terms of U.S. dollars. A decline in the value of the foreign currency relative to the U.S. dollar generally results in a decrease in value of a foreign currency-denominated security. Additionally, many countries throughout the world are dependent on a healthy U.S. economy and are adversely affected when the U.S. economy weakens or its markets decline.

Investment in foreign securities may involve higher costs than investment in U.S. securities, including higher transaction and custody costs as well as the imposition of additional taxes by foreign governments. Foreign investments also may involve risks associated with the level of currency exchange rates, less complete financial information about the issuers, less market liquidity, more market volatility and political instability. Future political and economic developments, the possible imposition of withholding taxes on dividend income, the possible seizure or nationalization of foreign holdings, the possible establishment of exchange controls or freezes on the convertibility of currency, trade restrictions (including tariffs) or the adoption of other governmental restrictions might adversely affect an investment in foreign securities. Additionally, foreign banks and foreign branches of domestic banks may be subject to less stringent reserve requirements and to different accounting, auditing and recordkeeping requirements.

Futures Contract Risk — The successful use of futures contracts draws upon the Adviser’s or Sub-Adviser’s skill and experience with respect to such instruments and are subject to special risk considerations. The primary risks associated with the use of futures contracts, which may adversely affect the Fund’s net asset value and total return, are (a) the imperfect correlation between the change in market value of the instruments held by the Fund and the price of the futures contract; (b) possible lack of a liquid secondary market for a futures contract and the resulting inability to close a futures contract when desired; (c) losses caused by unanticipated market movements, which are potentially unlimited; (d) the Adviser’s or Sub-Adviser’s inability to predict correctly the direction of securities prices, interest rates,

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currency exchange rates and other economic factors; (e) the possibility that the counterparty will default in the performance of its obligations; and (f) if the Fund has insufficient cash, it may have to sell securities from its portfolio to meet daily variation margin requirements, and the Fund may have to sell securities at a time when it may be disadvantageous to do so.

Geographic and Sector Risk — The risk that if a Fund invests a significant portion of its total assets in certain issuers within the same geographic region or economic sector, an adverse economic, business or political development affecting that region or sector may affect the value of the Fund’s investments more than if the Fund’s investments were not so focused. While the Funds may not concentrate in any one industry, a Fund may invest without limitation in a particular country or market sector.

The Adviser determines the appropriate country and industry categories and assigns issuers to them based on a variety of considerations, including relevant third party categorization and classification systems. Country and industry categories and issuer assignments may change over time as industry sectors and issuers evolve. The Adviser and sub-advisers may use a variety of classification methodologies when performing day-to-day management of the funds. Country classifications shown in this shareholder report generally represent Country of Risk.

Investment Companies and Exchange-Traded Funds Risk — When a Fund invests in other investment companies, including ETFs, it will bear additional expenses based on its pro rata share of the other investment company’s or ETF’s operating expenses, including the management fees of the Underlying Fund in addition to those paid by the Fund. The risk of owning an Underlying Fund generally reflects the risks of owning the underlying investments the Underlying Fund holds. The Fund also will incur brokerage costs when it purchases and sells ETFs.

Investment Style Risk — The risk that different investment styles (e.g., “growth,” “value,” or “quantitative”) tend to shift in and out of favor, depending on market and economic conditions as well as investor sentiment. The Fund may outperform or underperform other funds that employ a different investment style.

Momentum Style Risk. Investing in or having exposure to securities with positive momentum entails investing in securities that have had above-average recent returns. These securities may be more volatile than a broad cross-section of securities. In addition, there may be periods when the momentum style is out of favor, and during which the investment performance of a Fund using a momentum strategy may suffer.

Value Investing Risk is the risk that the market will not recognize a security’s inherent value for a long time, or that a stock judged to be undervalued by the

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Fund’s adviser may actually be appropriately priced or overvalued. Value oriented funds will typically underperform when growth investing is in favor.

Quantitative Investing Risk is the risk that the value of securities or other investments selected using quantitative analysis can perform differently from the market as a whole or from their expected performance. This may be as a result of the factors used in building the multifactor quantitative model, the weights placed on each factor, the accuracy of historical data supplied by third parties, and changing sources of market returns.

Profitability Investment Risk is the risk that high relative profitability stocks may perform differently from the market as a whole and an investment strategy purchasing these securities may cause the Fund to at times underperform equity funds that use other investment strategies.

Certain Sub-Advisers may rely heavily on quantitative models and information and data supplied by third parties (“Models and Data”). Models and Data are used to construct sets of transactions and investments, to provide risk management insights, and to assist in hedging investments.

When Models and Data prove to be incorrect or incomplete, any decisions made in reliance thereon expose the Fund to potential risks. Similarly, any hedging based on faulty Models and Data may prove to be unsuccessful. Some of the models used for the Fund are predictive in nature. The use of predictive models has inherent risks. Because predictive models are usually constructed based on historical data supplied by third parties, the success of relying on such models may depend heavily on the accuracy and reliability of the supplied historical data. The Fund bears the risk that the quantitative models used will not be successful in selecting companies for investment or in determining the weighting of investment positions that will enable the Fund to achieve its investment objective.

All models rely on correct market data inputs. If incorrect market data is entered into even a well-founded model, the resulting information will be incorrect. However, even if market data is input correctly, “model prices” will often differ substantially from market prices, especially for instruments with complex characteristics, such as derivative instruments.

Liquidity Risk — There is risk that a Fund may not be able to pay redemption proceeds within the time periods described in this Prospectus because of unusual market conditions, an unusually high volume of redemption requests, legal restrictions impairing its ability to sell particular securities or close derivative positions at an advantageous market price or other reasons. Certain portfolio securities may be less liquid than others, which may make them difficult or impossible to sell at the time and the price that a Fund would like

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or difficult to value. A Fund may have to lower the price, sell other securities instead or forgo an investment opportunity. Any of these events could have a negative effect on Fund management or performance. Funds with principal investment strategies that involve investments in securities of companies with smaller market capitalizations, foreign securities, Rule 144A securities, derivatives or securities with substantial market and/or credit risk tend to have the greatest exposure to liquidity risk.

Litigation and Enforcement Risk — Companies involved in significant restructuring tend to involve increased litigation risk, including for investors in these companies. This risk may be greater in the event a Fund takes a large position or is otherwise prominently involved. The expense of defending against (or asserting) claims and paying any amounts pursuant to settlements or judgments would be borne by the Fund (directly if it were directly involved or indirectly in the case of claims by or against an underlying company or settlements or judgments paid by an underlying company). Further, ownership of companies over certain threshold levels involves additional filing requirements and substantive regulation on such owners, and if the Fund fails to comply with all of these requirements, the Fund may be forced to disgorge profits, pay fines or otherwise bear losses or other costs from such failure to comply.

In addition, there have been a number of widely reported instances of violations of securities laws through the misuse of confidential information. Such violations may result in substantial liabilities for damages caused to others, for the disgorgement of profits realized and for penalties. Investigations and enforcement proceedings may be charged with involvement in such violations. Furthermore, if persons associated with a company in which the Fund invested engages in such violations, that Fund could be exposed to losses.

Management Risk — The net asset value of the Fund changes daily based on the performance of the securities and derivatives in which it invests. The Adviser’s judgments about the attractiveness, value and potential appreciation of particular securities or derivatives in which the Fund invests may prove to be incorrect and may not produce the desired results. Additionally, the Adviser may have conflicts of interest that could interfere with its management of the Fund’s portfolio. For example, the Adviser or its affiliates may manage other investment funds or have other clients that may be similar to, or overlap with, the investment objective and strategy of the Fund, creating potential conflicts of interest when making decisions regarding which investments may be appropriate for the Fund and other clients. Further information regarding conflicts of interest is available in the SAI.

Market Capitalization Risk — Stocks fall into the following broad market capitalization categories—large, medium, small and micro. A Fund that invests primarily in one of these categories carries the risk that due to current market conditions that category may be out of favor with investors. If valuations of large capitalization companies appear to be greatly out of proportion to the valuations of micro, small or medium capitalization companies, investors may migrate to the stocks of micro, small and medium-sized companies. Larger,

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more established companies may also be unable to respond quickly to new competitive challenges such as changes in technology and consumer tastes. Many larger companies also may not be able to attain the high growth rate of successful smaller companies, especially during extended periods of economic expansion.

Investing in medium, small, and micro capitalization companies may be subject to special risks associated with narrower product lines, more limited financial resources, fewer experienced managers, dependence on a few key employees, and a more limited trading market for their stocks, as compared with larger companies. In addition, securities of these companies are subject to the risk that, during certain periods, the liquidity of particular issuers or industries will shrink or disappear with little forewarning as a result of adverse economic or market conditions, or adverse investor perceptions, whether or not accurate. Securities of medium, small and micro capitalization issuers may therefore be subject to greater price volatility and may decline more significantly in market downturns than securities of larger companies.

Micro, small and medium capitalization issuers may also require substantial additional capital to support their operations, to finance expansion or to maintain their competitive position; and such issuers may have substantial borrowings or may otherwise have a weak financial condition, and may be susceptible to bankruptcy. Transaction costs for these investments are often higher than those of larger capitalization companies. There is typically less publicly available information about small and micro capitalization companies. Generally, the smaller the company size, the greater the risk.

Some micro, small, and medium capitalization companies also may be relatively new issuers, which carries risks in addition to the risks of other medium, small and micro capitalization companies. New issuers may be more speculative because such companies are relatively unseasoned. These companies will often be involved in the development or marketing of a new product with no established market, which could lead to significant losses.

Market Risk — Overall market risk may affect the value of individual instruments in which the Fund invests. Factors such as domestic and foreign (non-U.S.) economic growth and market conditions, real or perceived adverse economic or political conditions, inflation, changes in interest rate levels, lack of liquidity in the bond markets, volatility in the equities market or adverse investor sentiment affect the securities markets. When the value of the Fund’s investments goes down, your investment in the Fund decreases in value and you could lose money.

Financial markets are subject to periods of high volatility, depressed valuations, decreased liquidity and heightened uncertainty, such as what was experienced during the financial crisis that occurred in and around 2008 and more recently in connection with the coronavirus disease 2019 (COVID-19) pandemic. Market conditions such as this are an inevitable part of investing in capital markets and may continue, recur, worsen or spread. Markets may be

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volatile and values of individual securities and other investments may decline significantly in response to adverse issuer, political, regulatory, market, economic, public health, or other developments that may cause broad changes in market value, public perceptions concerning these developments, and adverse investor sentiment or publicity. Changes in the financial condition of a single issuer may impact a market as a whole. Changes in value may be temporary or may last for extended periods. Geopolitical risks, including terrorism, tensions or open conflict between nations, or political or economic dysfunction within some nations that are major players on the world stage or major producers of oil, may lead to overall instability in world economies and markets generally and have led, and may in the future lead, to increased market volatility and may have adverse long-term effects. Similarly, environmental and public health risks, such as natural disasters or epidemics (such as COVID-19), or widespread fear that such events may occur, may impact markets adversely and cause market volatility in both the short- and long-term. Governments and central banks may take steps to support financial markets, including by keeping interest rates at historically low levels. This and other governmental intervention may not work as intended, particularly if the efforts are perceived by investors as being unlikely to achieve the desired results. Governments and central banks also may reduce market support activities. Such reduction, including interest rate increases, could negatively affect financial markets generally, increase market volatility and reduce the value and liquidity of securities in which the Fund invests. Governmental policy and legislative changes also may contribute to decreased liquidity and increased volatility in the financial markets.

The outbreak of the COVID-19 respiratory disease was first detected in China in late 2019 and subsequently spread globally. The impact of the outbreak has been rapidly evolving, and cases of the virus have been identified in most developed and emerging countries throughout the world. The transmission of COVID-19 and efforts to contain its spread have resulted in significant disruptions to business operations, supply chains and customer activity, widespread business closures and layoffs, international, national and local border closings, extended quarantines and stay-at-home orders, event cancellations, service cancellations, reductions and other changes, significant challenges in healthcare service preparation and delivery, as well as general concern and uncertainty that has negatively affected the global economy. These circumstances are evolving, and further developments could result in additional disruptions and uncertainty. These circumstances also have caused significant volatility, declines in global financial markets, and losses for investors, which may recur or worsen. The impact of the COVID-19 pandemic may last for an extended period of time and could result in a substantial economic downturn or recession.

Health crises caused by pandemics, such as the COVID-19 pandemic, may exacerbate other pre-existing political, social, economic, and financial risks. The impact of the COVID-19 pandemic, and other epidemics and pandemics that may arise in the future, could result in a general decline in the global economy, and negatively affect the performance of individual countries, industries, sectors or companies in significant and unforeseen ways. Deteriorating economic fundamentals may in turn increase the risk of default or insolvency

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of particular companies, negatively impact market values, increase market volatility, cause credit spreads to widen, and reduce liquidity. All of these risks may have a material adverse effect on the performance and financial condition of the securities in which a Fund invests, and on the overall performance of the Fund.

Governments and central banks around the world have taken a variety of unprecedented actions to stimulate the economy and calm the financial markets. For example, in March 2020, the U.S. government adopted the largest economic stimulus package in recent history, estimated at $2 trillion, which is aimed at supporting American workers and businesses adversely affected by economic upheaval stemming from the COVID-19 pandemic. The law provides for loans and other disbursements to a wide swath of the economy, including direct payments to Americans and loans to large and small companies, as well as expanding unemployment insurance. The ultimate effect of these efforts is not yet known, and they may not be successful.

In the future, governments may take actions that could affect the overall economy as well as the securities in which the Funds invest, the markets in which they trade, or the issuers of such securities, in ways that are unforeseen. Governmental and quasi-governmental authorities and regulators throughout the world, such as the U.S. Federal Reserve (the “Fed”), have in the past responded to major economic disruptions with a variety of significant fiscal and monetary policy changes, including but not limited to, direct capital infusions into companies, new monetary programs, and dramatically lower interest rates. Certain of those policy changes have been or are being implemented or considered in response to the COVID-19 pandemic. The Fed has spent hundreds of billions of dollars to keep credit flowing through short-term money markets since mid-September 2019 when a shortage of liquidity caused a spike in overnight borrowing rates, and again in 2020 with large stimulus initiatives intended to respond to economic stresses stemming from the COVID-19 pandemic. The Fed has signaled that it plans to maintain its interventions at an elevated level. Changes in government policies or central banks could negatively affect the value and liquidity of a Fund’s investments and cause it to lose money, and there can be no assurance that the initiatives undertaken by governments and central banks will be successful.

The COVID-19 pandemic, and future pandemics, could also impair the information technology and other operational systems upon which the Adviser or a sub-adviser relies, and could otherwise disrupt the ability of a Fund’s service providers to perform essential tasks. Such impacts could impair a Fund’s ability to maintain operational standards (such as with respect to satisfying redemption requests), disrupt the operations of a Fund’s service providers, and negatively impact a Fund’s performance. In certain cases, an exchange or market may close or issue trading halts on either specific securities or even the entire market, which may result in a Fund being, among other things, unable to buy or sell certain securities or financial instruments or accurately value its investments.

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Markets generally and the energy sector specifically also have been adversely impacted by reduced demand for oil and other energy commodities as a result of the slowdown in economic activity resulting from the spread of the coronavirus and by price competition among key oil producing countries.

Global economies and financial markets are increasingly interconnected, which increases the possibilities that conditions in one country or region might adversely impact issuers in, or foreign exchange rates with, a different country or region. The rise in protectionist trade policies, and changes to some major international trade agreements and the potential for changes to others, could affect the economies of many countries in ways that cannot necessarily be foreseen at the present time. Political and diplomatic events within the U.S. and abroad may affect investor and consumer confidence and may adversely impact financial markets and the broader economy, perhaps suddenly and to a significant degree. Financial markets in the United States and China have been sensitive to the outlook for resolving ongoing U.S.-China trade disputes.

High public debt in the U.S. and other countries creates ongoing systemic and market risks and policymaking uncertainty. Interest rates have been unusually low in recent years in the U.S. and abroad, and central banks have reduced rates further in an effort to combat the economic effects of the COVID-19 pandemic. Because there is little precedent for this situation, it is difficult to predict the impact on various markets of a significant rate change or other significant policy initiatives, whether brought about by U.S. policy makers or by dislocations in world markets. Extremely low or negative interest rates may become more prevalent. To the extent a Fund has a bank deposit or holds a debt instrument with a negative interest rate to maturity, the Fund would generate a negative return on that investment. Similarly, negative rates on investments by a fund that is a money market fund would make it difficult for the fund to maintain stability in its share price without financial support from the fund’s adviser or other persons. There is no assurance that such support would be provided, which could lead to losses on investments in the fund, including on investments by a Fund that uses the fund as an investment option for the Fund’s uninvested cash. While negative yields may reduce the demand, liquidity and valuation of fixed income investments, investors may be willing to continue to purchase such investments for a number of reasons, including, but not limited to, price insensitivity, arbitrage opportunities across fixed income markets or rules-based investment strategies. If negative interest rates become more prevalent, investors may over time seek to reallocate assets to other income-producing assets or equity investments that pay a dividend, which may cause the price of such instruments to rise while triggering a corresponding decrease in yield and the value of debt instruments over time. Over the longer term, rising interest rates may present a greater risk than has historically been the case due to the current period of low rates and the effect of government fiscal policy initiatives and potential market reaction to those initiatives.

Some countries, including the United States, are adopting more protectionist trade policies and moving away from the tighter financial industry regulations that followed the 2008

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financial crisis. The United States is also said to be considering significant new investments in infrastructure, national defense and other spending priorities which, coupled with lower federal tax rates, could lead to sharply increased government borrowing and higher interest rates. The exact shape of these policies is still being worked out through the political process, but the equity and debt markets may react strongly to expectations, which could increase volatility, especially if the market’s expectations for changes in government policies are not borne out.

The implementation and the resulting impact of the United Kingdom’s January 31, 2020 departure from the European Union (the “EU”), commonly referred to as “Brexit,” remain uncertain. The effect on the economies of the United Kingdom and the EU will likely depend on the nature of trade relations between the United Kingdom and the EU and other major economies following Brexit, which are subject to negotiation. During a transition period that was extended to December 2020, the United Kingdom will have access to the EU single market and be subject to EU regulation. The outcomes may cause increased volatility and have a significant adverse impact on world financial markets, other international trade agreements, and the United Kingdom and European economies.

In addition, global climate change may have an adverse effect on the value of securities and other assets, such as real estate. A rise in sea levels, an increase in powerful windstorms and/or a storm-driven increase in flooding could cause coastal properties to lose value or become unmarketable altogether. Large wildfires such as those driven by high winds and prolonged drought may devastate entire communities and may be very costly to any business found to be responsible for the fire or conducting business or operations in affected areas. These losses could adversely affect corporate issuers and borrowers as well as mortgage lenders, the value of securities of companies and other issuers affected by these developments (such as mortgage-backed securities), the bonds of municipalities that depend on tax revenues and tourist dollars generated by properties in affected areas, and insurers of the property and/or of corporate, municipal or mortgage backed securities. Since property and security values are driven largely by buyers’ perceptions, it is difficult to know the time period over which these effects might unfold. Economists warn that, unlike previous declines in the real estate market, properties in affected coastal zones may never recover their value. Similarly, efforts to address climate change, including increased environmental regulation, may adversely impact individual companies, industries or sectors of the economy, such as energy and manufacturing companies, which could lead to declines in the value of securities and other instruments issued by such companies.

Russia's military invasion of Ukraine in February 2022, the resulting responses by the United States and other countries, and the potential for wider conflict have had, and could continue to have, severe adverse effects on regional and global economies and could further increase volatility and uncertainty in the financial markets. The United States and other countries have imposed broad-ranging economic sanctions on Russia and certain Russian individuals, banking entities and corporations as a response to its invasion of Ukraine.

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The United States and other countries have also imposed economic sanctions on Belarus and may impose sanctions on other countries that provide military or economic support to Russia. These sanctions, as well as any other economic consequences related to the invasion, such as additional sanctions, boycotts or changes in consumer or purchaser preferences or cyberattacks on governments, companies or individuals, may further decrease the value and liquidity of certain Russian securities and securities of issuers in other countries that are subject to economic sanctions related to the invasion. To the extent that a Fund has exposure to Russian investments or investments in countries affected by the invasion, the Fund's ability to price, buy, sell, receive or deliver such investments may be impaired. In addition, any exposure that a Fund may have to counterparties in Russia or in countries affected by the invasion could negatively impact the Fund's investments. The extent and duration of military actions and the repercussions of such actions (including any retaliatory actions or countermeasures that may be taken by those subject to sanctions) are impossible to predict. These events have resulted in, and could continue to result in, significant market disruptions, including in certain industries or sectors such as the oil and natural gas markets, and may further strain global supply chains and negatively affect inflation and global growth. These and any related events could significantly impact a Fund's performance and the value of an investment in a Fund beyond any direct exposure a Fund may have to Russian issuers or issuers in other countries affected by the invasion.

Municipal Bond Risk — The Funds that invest in municipal bonds may be affected significantly by the economic, regulatory or political developments affecting the ability of issuers of municipal bonds to pay interest or repay principal. In addition, the ability of an issuer to make payments or repay interest may be affected by litigation or bankruptcy. In the event of bankruptcy of such an issuer, a Fund investing in the issuer’s securities could experience delays in collecting principal and interest, and the Fund may not, in all circumstances, be able to collect all principal and interest to which it is entitled. To enforce its rights in the event of a default in the payment of interest or repayment of principal, or both, a Fund may, in some instances, take possession of, and manage, the assets securing the issuer’s obligations on such securities, which may increase the Fund’s operating expenses. Any income derived from the Fund’s ownership or operation of such assets may not be tax-exempt. Municipal bonds are generally subject to interest rate, credit and market risk.

Because many municipal bonds are issued to finance similar projects (such as those relating to education, health care, housing, transportation, and utilities), conditions in those sectors may affect the overall municipal securities market. In addition, changes in the financial condition of an individual municipal issuer can affect the overall municipal market. Municipal bonds backed by current or anticipated revenues from a specific project or specific assets can be negatively affected by the discontinuance of the supporting taxation or the inability to collect revenues for the specific project or specific assets. Municipal bonds are subject to the risk that the Internal Revenue Service (the “IRS”) may determine that an issuer has not complied with applicable tax requirements and that interest from

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the municipal bond is taxable, which may result in a significant decline in the value of the security.

Municipal bonds may be less liquid than taxable bonds and there may be less publicly available information on the financial condition of municipal bond issuers than for issuers of other securities, and the investment performance of a fund investing in municipal bonds may therefore be more dependent on the analytical abilities of the Adviser than if the fund held other types of investments such as stocks or taxable bonds. The secondary market for municipal bonds also tends to be less well-developed or liquid than many other securities markets, a by-product of lower capital commitments to the asset class by the dealer community, which may adversely affect a fund’s ability to sell municipal bonds it holds at attractive prices or value municipal bonds.

Operational Risk - Operational risks include human error, changes in personnel, system changes, faults in communication, and failures in systems, technology, or processes. Various operational events or circumstances are outside the Adviser’s and the Sub-Advisers’ control, including instances at third parties. The Fund, the Adviser and the Sub-Advisers seek to reduce these operational risks through control and procedures. However, these measures do not address every possible risk and may be inadequate to address these risk.

ReFlow Liquidity Program — The Fund may participate in a variety of liquidity programs offered by ReFlow Fund, LLC. These include the ReFlow Redemption Service and ReFlow NAVswap, both of which are designed to provide alternative sources of liquidity to funds experiencing net redemptions of their shares. The ReFlow Redemption Service provides participating funds with a source of cash to meet net shareholder redemptions by standing ready each business day to purchase fund shares up to the value of the net shares redeemed from the fund and settling the next business day, subject to certain limitations. Following purchases of fund shares, ReFlow then generally redeems those shares when the fund experiences net sales, at the end of a maximum holding period determined by ReFlow, or at other times at ReFlow’s discretion. In the event the Fund uses the ReFlow Redemption Service, the Fund will pay a fee to ReFlow each time ReFlow purchases Fund shares, calculated by multiplying the value of shares ReFlow purchases by a rate determined through an automated daily auction. In accordance with federal securities laws, ReFlow is prohibited from acquiring more than 3% of the outstanding voting securities of the Fund. ReFlow NAVswap also provides participating funds with a source of cash to meet net shareholder redemptions. ReFlow NAVswap is an International Swaps and Derivatives Association governed total return swap in which a fund receives a return that corresponds to the daily change in the fund’s net asset value. In return, the fund pays one-month Secured Overnight Financing Rate (SOFR) plus a spread. By participating in the ReFlow programs, the Fund may maintain a lower cash balance than might otherwise be required. In an environment of declining market values, a fund participating in the ReFlow programs may experience a greater decrease in value than it would if it did not participate in the programs and instead maintained a higher cash balance.

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REIT Risk — There is risk that investments in real estate investment trusts (REITs) will make a Fund more susceptible to risks associated with the ownership of real estate and with the real estate industry in general. REITs may be less diversified than other pools of securities, may have lower trading volumes and may be subject to more abrupt or erratic price movements than the overall securities markets.

Small Fund Risk — Symmetry Panoramic Municipal Fixed Income Fund and Symmetry Panoramic Alternative Fund currently have fewer assets than larger funds. Thus, like other small funds, inflows and outflows may impact its market exposure. In addition, if a Fund does not attract additional assets, the Fund’s fixed costs will continue to be spread over a small asset base, which could result in increased shareholder expenses (if the Fund were not subject to an expense cap) or force the Fund to liquidate.

Swap Risk — Swap agreements are subject to the risk that the counterparty to the swap will default on its obligation to pay a Fund and the risk that a Fund will not be able to meet its obligations to pay the counterparty to the swap. In addition, there is the risk that a swap may be terminated by a Fund or the counterparty in accordance with its terms. If a swap were to terminate, a Fund may be unable to implement its investment strategies and a Fund may not be able to seek to achieve its investment objective.

U.S. Government Securities Risk — Treasury obligations may differ in their interest rates, maturities, times of issuance and other characteristics. Obligations of U.S. Government agencies and authorities are supported by varying degrees of credit but generally are not backed by the full faith and credit of the U.S. Government. No assurance can be given that the U.S. Government will provide financial support to its agencies and authorities if it is not obligated by law to do so. In addition, the value of U.S. Government securities may be affected by changes in the credit rating of the U.S. Government.

Valuation Risk — The sale price the Fund could receive for a security may differ from the Fund’s valuation of the security, particularly for securities that trade in low volume or volatile markets, or that are valued using a fair value methodology. Because portfolio securities of the Fund may be traded on non-U.S. exchanges, and non-U.S. exchanges may be open on days when the Fund does not price its shares, the value of the securities in the Fund’s portfolio may change on days when shareholders will not be able to purchase or sell the Fund’s shares.

10. Other:

As of August 31, 2022, the percentage of total shares outstanding held by shareholders of the Funds, which are comprised of individual shareholders and omnibus accounts that are held on behalf of various individual shareholders owning 10% or greater of the aggregate total shares outstanding for each fund, were as follows:

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	No. of Shareholders		% Ownership
Symmetry Panoramic US Equity Fund		2	85.83%
Symmetry Panoramic International Equity Fund		2	86.43%
Symmetry Panoramic Global Equity Fund		2	86.97%
Symmetry Panoramic Tax-Managed Global Equity Fund		3	82.54%
Symmetry Panoramic US Fixed Income Fund		3	91.25%
Symmetry Panoramic Municipal Fixed Income Fund		3	81.43%
Symmetry Panoramic Global Fixed Income Fund		2	85.96%
Symmetry Panoramic Alternatives Fund		3	85.53%

In the normal course of business, the Funds enter into contracts that provide general indemnifications. The Funds’ maximum exposure under these arrangements is dependent on future claims that may be made against the Funds and, therefore, cannot be established; however, based on experience, the risk of loss from such claim is considered remote.

11. Subsequent Events:

The Funds have evaluated the need for additional disclosures and/or adjustments resulting from subsequent events through the date the financial statements were issued. Based on this evaluation, no additional disclosures and/or adjustments were required to the financial statements as of August 31, 2022.

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Report of Independent Registered Public Accounting Firm

To the Shareholders and Board of Trustees of

Symmetry Panoramic Trust

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of Symmetry Panoramic US Equity Fund, Symmetry Panoramic International Equity Fund, Symmetry Panoramic Global Equity Fund, Symmetry Panoramic Tax-Managed Global Equity Fund, Symmetry Panoramic US Fixed Income Fund, Symmetry Panoramic Municipal Fixed Income Fund, Symmetry Panoramic Global Fixed Income Fund, and Symmetry Panoramic Alternatives Fund (the “Funds”), each a series of Symmetry Panoramic Trust, as of August 31, 2022, the related statements of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the related notes, and the financial highlights for each of the four periods in the period then ended (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of August 31, 2022, the results of their operations for the year then ended, the changes in net assets for each of the two years in the period then ended, and the financial highlights for each of the four periods in the period then ended, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of August 31, 2022, by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

We have served as the Funds’ auditor since 2018.

COHEN & COMPANY, LTD.

Cleveland, Ohio

October 28, 2022

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TRUSTEES AND OFFICERS OF THE TRUST (Unaudited)

Set forth below are the names, year of birth, position with the Trust, length of term of office, and the principal occupations for the last five years of each of the persons currently serving as Trustees and Officers of the Trust. Unless otherwise noted, the business address of each Trustee is Symmetry Partners, LLC, 151 National Drive, Glastonbury, Connecticut 06033. Trustees who are deemed not to be “interested persons” of the Trust are referred

Name and

Year of Birth

Position(s) Held

with the Trust

Term of Office and Length of

Time Served

INTERESTED

TRUSTEE

John McDermott

(1962)

Chairman,

Trustee

(Since 2018)

INDEPENDENT

TRUSTEES

Tracie Ahern

(1968)

Trustee

(Since 2018)

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TRUSTEES AND OFFICERS OF THE TRUST (Unaudited)

to as “Independent Trustees.” The Trust’s Statement of Additional Information (“SAI”) includes additional information about the Trustees and Officers. The SAI may be obtained without charge by calling 1-844-796-3863. The following chart lists Trustees and Officers as of August 31, 2022:

Principal

Occupation(s)

During the Past 5 Years

Number of Portfolios in Fund Complex

Overseen By Trustee

Other Directorships Held in the Past Five Years

Consultant, Chief Investment Strategist, Symmetry Partners, LLC (2005-present); Chair, Department of Finance, Fairfield University School of Business (2014-present).

Qualifications: Dr. McDermott’s experience

includes research on hedging, market liquidity, and index reconstitution, which has been published in notable financial journals including the Journal of Banking and Finance, Journal of Financial Markets, Journal of Futures Market, and Journal of Index Investing. Dr. McDermott also serves as a member of the Index Committee for Janus Index and Calculation Services.

None.

Chief Financial Officer, PineBridge Investments (April 2019 - Present); Principal, Danesmead Partners (July 2016- April 2019).

Qualifications: Ms. Ahern’s experience includes serving as an Independent Trustee on the boards of mutual funds and private equity/hedge funds. She also has served on several executive committees for several institutions, including Brightwood Capital Advisors LLC. Ms. Ahern is a Certified Public Accountant and has significant experience with SEC Regulatory Reporting including Public Company Financial Reporting.

None.

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TRUSTEES AND OFFICERS OF THE TRUST (Unaudited)

Name and

Year of Birth

Position(s) Held with the Trust

Term of Office

and Length of

Time Served

INDEPENDENT

TRUSTEES (Continued)

Jack Jennings

(1957)

Trustee

(Since 2018)

Thomas P. Lemke

(1954)

Trustee

(Since 2018)

Fred Naddaff

(1958)

Trustee

(Since 2018)

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TRUSTEES AND OFFICERS OF THE TRUST (Unaudited)

Principal Occupation(s) During the Past 5 Years	Number of Portfolios in Fund Complex Overseen By Trustee	Other Directorships Held in the Past 5 Years
Executive Dean for Administration, Harvard Graduate School of Education (2008- present). Qualifications: Mr. Jennings has 32 years of financial planning and management experience. He also has more than 20 years of experience directing, developing, and implementing strategic plans and organizational change. Mr. Jennings also has 18 years of experience in higher education, including 4 years of experience as undergraduate management professor.	8	None.
Retired (2013-present). Qualifications: Mr. Lemke’s experience includes serving as an Independent Trustee on boards of mutual funds. He serves as Chair of a Board Governance Committee. Mr. Lemke also is a former co-chair of the Investment Management Group at Morgan, Lewis & Bockius, LLP. In addition, Mr. Lemke’s experience includes serving as General Counsel and Head of Governance at Legg Mason, Inc.	8	Independent Director, J.P. Morgan Exchange Traded Funds; Independent Director, SEI Advisors Inner Circle Fund III.
Retired; Chief Operating Officer of Transfer Agency and Investor Services, FIS Global Asset Management (2012-2018). Qualifications: Mr. Naddaff’s experience includes a 40 year career in the financial services industry. He has experience in all aspects of mutual fund operations, fund accounting, administration, regulatory and compliance. In addition to FIS Global, he has held senior management positions at Citi Fund Services, BISYS Fund Services and First Data Investor Services Group.	8	None.

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TRUSTEES AND OFFICERS OF THE TRUST (Unaudited)

Name and

Year of Birth

Position(s) Held with the Trust

OFFICERS

Philip McDonald

(1976)

President

Andrew Metzger

(1980)

Treasurer, Principal

Financial Officer

Carlyn Edgar

(1963)

Chief Compliance Officer

Rebecca Cioban

(1984)

Vice President

Timothy Richards

(1973)

Chief Legal Officer,

Secretary

Zachary Tackett

(1988)

Anti-Money Laundering Compliance Officer and Identity Theft

Prevention Officer

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TRUSTEES AND OFFICERS OF THE TRUST (Unaudited)

Principal Occupation(s) During the Past 5 Years	Number of Portfolios in Fund Complex Overseen By Trustee	Other Directorships Held by Trustee
Director of Investments, Symmetry Partners, LLC (December 2017-present); Director of Fixed Income and Alternatives, Symmetry Partners, LLC (June 2016-November 2017.	8	None.
Director of Fund Accounting, SEI Investments, (2020-present); Senior Director, Embark (2019-2020); Senior Manager, PricewaterhouseCoopers LLP (2002-2019).	8	None.
Senior Vice President, Apex Group Ltd. (2008- present).	8	None.
Associate Director (January 2020-present); Senior Research Associate, Symmetry Partners, LLC (December 2016-December 2019).	8	None.
Chief Compliance Officer, Symmetry Partners, LLC (December 2019-present); Chief Compliance Officer, Apella Capital, LLC (June 2018-present); Chief Compliance Officer, USQ Core Real Estate Fund (2017); Director, Chenery Compliance Group (2017-2018) Chief Compliance Officer, Quaker Investment Trust and Quaker Funds, Inc. (2002- 2017).	8	None.
Counsel, Apex Group Ltd. (2014-present).	8	None.

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Disclosure of Fund Expenses (Unaudited)

All mutual funds have operating expenses. As a shareholder of a mutual fund, your investment is affected by these ongoing costs, which include (among others) costs for Fund management, administrative services, and shareholder reports like this one. It is important for you to understand the impact of these costs on your investment returns.

Operating expenses such as these are deducted from the mutual fund’s gross income and directly reduce your final investment return. These expenses are expressed as a percentage of the mutual fund’s average net assets; this percentage is known as the mutual fund’s expense ratio.

The following examples use the expense ratio and are intended to help you understand the ongoing costs (in dollars) of investing in your Fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period from March 1, 2022 to August 31, 2022.

The table on the next page illustrates your Fund’s costs in two ways:

□ Actual Fund Return. This section helps you to estimate the actual expenses after fee waivers that your Fund incurred over the period. The “Expenses Paid During Period” column shows the actual dollar expense cost incurred by a $1,000 investment in the Fund, and the “Ending Account Value” number is derived from deducting that expense cost from the Fund’s gross investment return.

You can use this information, together with the actual amount you invested in the Fund, to estimate the expenses you paid over that period. Simply divide your actual account value by $1,000 to arrive at a ratio (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply that ratio by the number shown for your Fund under “Expenses Paid During Period.”

□ Hypothetical 5% Return. This section helps you compare your Fund’s costs with those of other mutual funds. It assumes that the Fund had an annual 5% return before expenses during the year, but that the expense ratio (Column 3) for the period is unchanged. This example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to make this 5% calculation. You can assess your Fund’s comparative cost by comparing the hypothetical result for your Fund in the “Expenses Paid During Period” column with those that appear in the same charts in the shareholder reports for other mutual funds.

Note: Because the return is set at 5% for comparison purposes — NOT your Fund’s actual return — the account values shown may not apply to your specific investment.

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Disclosure of Fund Expenses (Unaudited) - continued

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as wire transfers, redemption fees, or returned checks. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

	Beginning Account Value 3/1/22		Ending Account Value 8/31/22		Annualized Expense Ratios			Expenses Paid During Period*
Symmetry Panoramic US Equity Fund
Class I Shares
Actual Fund Return	$	1,000.00	$	926.70		0.55	%	$	2.67
Hypothetical 5% Return	$	1,000.00	$	1,022.43		0.55	%	$	2.80
Symmetry Panoramic International Equity Fund
Class I Shares
Actual Fund Return	$	1,000.00	$	861.00		0.65	%	$	3.05
Hypothetical 5% Return	$	1,000.00	$	1,021.93		0.65	%	$	3.31
Symmetry Panoramic Global Equity Fund
Class I Shares
Actual Fund Return	$	1,000.00	$	899.90		0.56	%	$	2.68
Hypothetical 5% Return	$	1,000.00	$	1,022.38		0.56	%	$	2.85
Symmetry Panoramic Tax-Managed Global Equity Fund
Class I Shares
Actual Fund Return	$	1,000.00	$	897.40		0.42	%	$	2.01
Hypothetical 5% Return	$	1,000.00	$	1,023.09		0.42	%	$	2.14
Symmetry Panoramic US Fixed Income Fund
Class I Shares
Actual Fund Return	$	1,000.00	$	944.60		0.41	%	$	2.01
Hypothetical 5% Return	$	1,000.00	$	1,023.14		0.41	%	$	2.09
Symmetry Panoramic Municipal Fixed Income Fund
Class I Shares
Actual Fund Return	$	1,000.00	$	980.80		0.41	%	$	2.05
Hypothetical 5% Return	$	1,000.00	$	1,023.14		0.41	%	$	2.09
Symmetry Panoramic Global Fixed Income Fund
Class I Shares
Actual Fund Return	$	1,000.00	$	923.30		0.43	%	$	2.08
Hypothetical 5% Return	$	1,000.00	$	1,023.04		0.43	%	$	2.19
Symmetry Panoramic Alternatives Fund
Class I Shares
Actual Fund Return	$	1,000.00	$	1,072.10		0.50	%	$	2.61
Hypothetical 5% Return	$	1,000.00	$	1,022.69		0.50	%	$	2.55

* Expenses are equal to the Fund’s annualized expense ratio multiplied by the average account value over the period, multiplied by 184/365 (to reflect one-half year period).

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BOARD CONSIDERATION OF THE CONTINUANCE OF THE INVESTMENT ADVISORY AND SUB-ADVISORY AGREEMENTS (Unaudited)

Symmetry Panoramic U.S. Equity Fund

Symmetry Panoramic US Fixed Income Fund

Symmetry Panoramic International Equity Fund

Symmetry Panoramic Municipal Fixed Income Fund

Symmetry Panoramic Global Equity Fun

Symmetry Panoramic Global Fixed Income Fund

Symmetry Panoramic Tax-Managed Global Equity Fund

Symmetry Panoramic Alternatives Fund

(collectively, the “Funds”)

At a meeting of the Board of Trustees (the “Trustees” or the “Board”) of Symmetry Panoramic Trust (the “Trust”) held on April 26, 2022 (the “Meeting”), the Trustees, including those Trustees who are not “interested persons” (as defined in the Investment Company Act of 1940) of the Trust (the “Independent Trustees”), approved the continuance for an additional year of:

(1) the investment advisory agreement (the “Advisory Agreement”) between Symmetry Partners, LLC (“Symmetry”) and the Trust, on behalf of the Funds, pursuant to which Symmetry provides the Funds with investment advisory services;

(2) an investment sub-advisory agreement between Symmetry and AQR Capital Management, LLC (“AQR”), pursuant to which AQR provides investment sub-advisory services to the Symmetry Panoramic U.S. Equity Fund, Symmetry Panoramic International Equity Fund, and Symmetry Panoramic Global Equity Fund (the “AQR Sub-Advised Funds”); and

(3) an investment sub-advisory agreement between Symmetry and Dimensional Fund Advisors LP (“DFA” and, with AQR, each a “Sub-Adviser” and, together, the “Sub-Advisers”), pursuant to which DFA provides investment sub-advisory services to the Symmetry Panoramic U.S. Equity Fund, Symmetry Panoramic International Equity Fund, and Symmetry Panoramic Global Equity Fund (the “DFA Sub-Advised Funds”)(the AQR Sub-Advised Funds and the DFA Sub-Advised Funds referred herein individually as a “Sub-Advised Fund” and collectively as the “Sub-Advised Funds”).

In response to requests made on behalf of the Independent Trustees by independent legal counsel, the Board received and reviewed prior to the Meeting materials specifically prepared for the Board’s annual review of the Advisory Agreement from Symmetry, the Board’s annual review of the investment sub-advisory agreement with AQR and the investment sub-advisory agreement with DFA (each a “Sub-Advisory Agreement” and, together, the “Sub-Advisory Agreements”) from AQR and DFA, respectively, and from Broadridge Financial Solutions, Inc. (“Broadridge”), an independent provider of investment company data. The materials provided in connection with the annual review covered a breadth of subject matter including, but not limited to, a description of the nature,

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extent, and quality of services provided by Symmetry and the Sub-Advisers; an analysis of fund performance in absolute terms and as compared to the performance of certain peer funds and benchmarks; an analysis of the fees and expense ratios of the Funds in absolute terms and as compared to those of certain peer funds; a description of the profitability of Symmetry and the Sub-Advisers; and a description of indirect benefits received by Symmetry and the Sub-Advisers as a result of their relationships with the Funds.

The information prepared specifically for the annual review of the Advisory Agreement and the Sub-Advisory Agreements (collectively, the “Agreements”) supplemented the information provided to the Board throughout the year. The Board met regularly during the year and the information provided and topics discussed at such meetings were relevant to the review of the Agreements. Some of these reports and other data included, among other things, materials that outlined the investment performance of the Funds; compliance, regulatory, and risk management matters; the trading practices of Symmetry and the Sub-Advisers; valuation of securities; fund expenses; and overall market and regulatory developments. The Independent Trustees considered the review of the Agreements to be an ongoing process and employed the accumulated information, knowledge, and experience they had gained during their tenure on the Board governing the Funds and working with Symmetry and the Sub-Advisers in their review of the Agreements. Symmetry and the Sub-Advisers provided all information requested on behalf of the Board and the Board reasonably believes that it received such information as may reasonably be necessary to evaluate the terms of the Advisory Agreement and the Sub-Advisory Agreements.

The Independent Trustees were advised by independent legal counsel during the annual review process as well as throughout the year, including meeting in executive sessions with such counsel without representatives from Symmetry and the Sub-Advisers present. In connection with their annual review, the Independent Trustees also received a memorandum from independent legal counsel outlining their fiduciary duties and legal standards in reviewing the Agreements.

In deciding to continue the Agreements, the Independent Trustees did not identify a particular factor or information as determinative or controlling to its evaluation; rather, the decision reflected the comprehensive consideration of all the information provided, and each Trustee may have attributed different levels of importance to the various factors and information considered in connection with the approval process. The following summarizes the principal factors and information the Board considered in deciding to continue the Agreements and its conclusions.

The nature, extent, and quality of the services provided. The Board considered the nature, extent, and quality of the services provided by Symmetry to the Funds and by the Sub-Advisers to the Sub-Advised Funds. The Board considered the investment strategies of each Fund and Symmetry and each Sub-Adviser’s expertise with respect to such strategies; the experience, capability, and integrity of Symmetry and each Sub-Adviser’s respective senior

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management; the financial resources of Symmetry and the Sub-Advisers; the continuous and regular management and services provided by Symmetry and the Sub-Advisers and the risks assumed and borne; and the professional qualifications of the portfolio management teams of Symmetry and the Sub-Advisers.

The Board considered that each Fund is managed as a multi-factor fund providing exposure to different managers that, in Symmetry’s view, are best able to deliver certain factor exposures as identified by Symmetry, and that Symmetry accesses these investment managers on behalf of the Funds either through investment in other registered investment companies or by entering into a sub-advisory relationship with one or more investment managers pursuant to which the sub-adviser is responsible for advising an allocated portion of a Fund’s assets. The Board noted that, in implementing each Fund’s investment strategy, Symmetry combines the Fund’s investments in other registered investment companies with any sub-advised positions to gain a more complete set of market and factor exposures for the Fund and manages investment and sub-adviser rebalances and transitions within the Fund’s portfolio. The Board noted that Symmetry’s advisory fee serves as compensation for these services as well as other services it provides to the Funds, including: development, implementation and monitoring of each Fund’s investment program, assessing each Fund’s investment objectives and policies, composition, investment style and investment process, and development and evaluation of strategic initiatives with respect to the Funds; as a “manager of managers,” selecting sub-advisers for the Funds and monitoring such sub-advisers’ implementation of and adherence to each Fund’s investment objectives, policies, and restrictions; providing a continuous investment program for each Fund and making determinations with respect to the investment of a Fund’s assets, including day-to-day management of the Fund or portions thereof; reviewing brokerage matters; generally overseeing compliance by the Trust; carrying out directives of the Board as they relate to each Fund; and making its employees available to serve as trustees and officers of the Trust. The Board further noted the services Symmetry provides to the Funds in the form of oversight of the services provided by the Funds’ custodian, administrator, transfer agent, independent accountant and legal counsel and supervision of the performance of recordkeeping and shareholder relations functions of the Funds. The Board considered that Symmetry’s management services also include, among other things, the provision of supervisory, compliance, and administrative services to each Fund.

With respect to its consideration of each Sub-Advisory Agreement, the Board considered Symmetry’s reasons for recommending that each Sub-Adviser continue to serve as a sub-adviser to each of the Sub-Advised Funds, including Symmetry’s due diligence concerning and previous and ongoing experience with each Sub-Adviser. The Board noted that under each Sub-Advisory Agreement, each Sub-Adviser, subject to the oversight of the Trustees and the supervision of Symmetry, is responsible for, among other things: making investment decisions on behalf of each Sub-Advised Fund with respect to its allocated portion of such Sub-Advised Fund, placing orders with brokers or dealers for the purchase and sale of investments, and performing other related functions.

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The Board also considered the compliance and operational resources of Symmetry and the Sub-Advisers. The Board considered Symmetry and each Sub-Adviser’s commitment to compliance with applicable laws and regulations and the Trust’s compliance policies and procedures, including recent and ongoing implementation of various enhancements to their compliance programs. The Trustees also considered Symmetry and each Sub-Adviser’s operational infrastructure, including their risk management, technology and cybersecurity controls and systems. In this regard, the Trustees noted the continued ability of Symmetry and the Sub-Advisers’ personnel to provide services from remote work environments, as well as their successful establishment of long-term remote operations to service the Funds, in connection with the COVID-19 pandemic. Further, the Board considered the financial position of Symmetry and the Sub-Advisers in evaluating their ability to continue to meet their obligations to the Funds and provide a high level of services to the Funds under the Agreements.

Based on the factors discussed above, as well as those discussed below, the Board concluded that it was satisfied with the nature, extent, and quality of the services provided to the Funds by Symmetry and the Sub-Advisers.

Performance. The Board considered the performance of each Fund in light of its investment objective. The Board reviewed reports prepared by Broadridge, which included information comparing each Fund’s performance with the performance of a group of comparable funds (the “Performance Group”) and with a broader group of funds (the “Performance Universe”), as well as Symmetry’s similarly managed accounts. The Board noted that Broadridge ranks funds in quartiles, ranging from first to fourth, where first is the most desirable quartile position and fourth is the least desirable. The Board noted that the Symmetry Municipal Fixed Income Fund and the Symmetry Panoramic U.S. Fixed Income Fund had performance that ranked in the fourth quartile of their respective Performance Group or Performance Universe for the one-year, three-year and since inception periods. Additionally, the Board noted that the Symmetry Panoramic International Equity Fund and the Symmetry Panoramic U.S. Equity Fund had performance that ranked in the fourth quartile of their respective Performance Group or Performance Universe for the three-year and since inception periods, but that the Panoramic International Equity Fund had moved up to the third quartile and the Panoramic U.S. Equity Fund had moved up to the second quartile for the one-year period, respectively. The Board also noted that the Panoramic Symmetry Global Equity Fund and the Panoramic Symmetry Tax-Managed Global Equity Fund had moved up from the third to the second quartile, and the Panoramic Symmetry Global Fixed Income Fund from the third to the first quartile, of their respective Performance Group or Performance Universe for the one-year period. The Board further noted that the Panoramic Symmetry Alternatives Fund’s overall performance was in line with its Performance Group or Performance Universe for the periods shown. Symmetry reviewed with the Board the factors that contributed to and detracted from each Fund’s performance and the Board noted Symmetry’s views that the performance of each Fund generally was in line with

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tolerances accepted by Symmetry over longer periods and that the Board regularly had been updated on each Fund’s performance through the performance information provided by Symmetry and each Sub-Adviser at each of the Board’s quarterly meetings. In reviewing the Funds’ performance, the Board noted that while Symmetry may not have outperformed Symmetry’s respective benchmarks for the Funds for the periods under evaluation, Symmetry’s strategies are not index-based and, thus, the Funds are not designed to track an index and Symmetry uses the Funds’ respective benchmarks as a reference point, rather than as a strict comparison. The Board further took into account Symmetry’s view that each Fund was providing the multi-factor exposure it was designed to provide. The Board also took into account the Funds’ performance in the context of the performance of the equity and bond markets, and the ongoing impact of the COVID-19 coronavirus on domestic and international markets. The Board noted that the Funds have had relatively short operating histories over which to evaluate Symmetry and each Sub-Adviser’s performance and that the Board would continue to monitor each Fund’s performance in the coming year, noting that it receives regular reports regarding the Funds’ performance at its quarterly meetings. The Board further noted that the usefulness of performance comparisons may be affected by a number of factors, including that the investment limitations and policies applicable to a Fund may be different than those applicable to the funds included in a Fund’s Performance Group and Performance Universe. The Board also recognized that the performance data reflects a snapshot of a period as of a particular date and that selecting a different performance period could produce significantly different results.

Advisory fees, sub-advisory fees, and expense ratios. The Board considered the advisory and sub-advisory fees and expense ratios of each Fund. The Board reviewed reports prepared by Broadridge, which included information comparing each Fund’s advisory fee and net expense ratio with those of a group of comparable funds (the “Expense Group”) and with a broader group of funds (the “Expense Universe”). The Board noted that the contractual advisory fees for the Symmetry Panoramic Alternatives Fund, the Symmetry Panoramic Municipal Fixed Income Fund and the Symmetry Panoramic U.S. Fixed Income Fund were at the high end of the range for the Expense Group and Expense Universe but that, due to Symmetry’s commitment to waive a portion of its advisory fee and otherwise limit the Funds’ expenses, the overall net expense ratios for these Funds were, respectively, well below the median of and generally in line with their Expense Groups and Expense Universes. The Board also noted that the contractual advisory fees for the Symmetry Panoramic Global Equity Fund, the Symmetry Panoramic Global Fixed Income Fund, the Symmetry Panoramic International Equity Fund, the Symmetry Panoramic Tax-Managed Global Equity Fund, and the Symmetry Panoramic U.S. Equity Fund were in line with their Expense Groups and Expense Universes and, after fee waivers and expense limitations, the overall net expense ratios for the Funds were, respectively, well below the median of their Expense Groups and Expense Universes. The Board took into account Symmetry’s explanation that the strategy for the Symmetry Panoramic Alternatives Fund is unique and that its Expense Group and Expense Universe do not necessarily reflect appropriate comparisons, and, further, that these Funds have not yet experienced the same

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levels of inflows as the other Funds and that Symmetry is continuing to subsidize each Fund’s expenses to a significant extent.

The Board noted that, consistent with their investment strategies, the Funds make investments in other registered investment companies and, as a result, would bear their pro rata share of the fees and expenses of such other companies. The Board further noted that the Funds’ advisory fees are based on services that Symmetry provides to the Funds that are in addition to, not duplicative of, the services provided to the underlying investment companies by their investment advisers. The Board noted that, with respect to each Fund, Symmetry contractually agreed to waive its management fee so as to cap the aggregate management fee retained by Symmetry with respect to each Fund after payment of sub-advisory fees and, separately, contractually agreed to reduce each Fund’s fees and absorb expenses of each Fund so as to limit total annual Fund operating expenses, in each case through at least December 31, 2022. The Board considered that the net advisory fees for the Symmetry Panoramic Tax-Managed Global Equity Fund and Symmetry Panoramic Alternatives Fund are higher than the net advisory fees of the other Funds, and that such difference was in recognition of the additional tax management services and additional due diligence and monitoring services, respectively, provided to those Funds. The Board noted that Symmetry’s commitment of resources to the Funds resulted in it assuming entrepreneurial and other risks, for which it may reasonably seek to be compensated.

With respect to Symmetry’s oversight of the Sub-Advisers, the Board noted that Symmetry, as a “manager of managers,” must select, oversee and monitor each Sub-Adviser, as well as negotiate a sub-advisory fee rate for each Sub-Advised Fund. In reviewing the fairness of each Sub-Advised Fund’s sub-advisory fee rate, the Board observed that Symmetry pays the fee directly out of its management fee and, as a result, the sub-advisory fee rate materially impacts Symmetry’s profitability with respect to the Sub-Advised Funds. Accordingly, the Board reasoned that Symmetry would have negotiated at arm’s length for a competitive rate. With respect to AQR, the Board noted the breakpoint structure for each Sub-Advised Fund’s sub-advisory fee. With respect to DFA, the Board noted the breakpoint structure for the Symmetry Panoramic US Equity Fund and the Symmetry Panoramic Global Equity Fund. With respect to the Symmetry Panoramic International Equity Fund, the Board noted that, while DFA has been approved as a sub-adviser for the Fund, no assets of the Fund had been allocated to it for management to date. The Board also noted that, to date, DFA manages only U.S. equities within its allocated portion of the Symmetry Panoramic Global Equity Fund. The Board considered the sub-advisory fees paid to each Sub-Adviser in relation to the fees paid to Symmetry by the Sub-Advised Funds and the respective services provided by the Sub-Advisers and Symmetry. The Board considered the meaningful differences in the services that Symmetry provides to the Sub-Advised Funds as compared to the services provided by the Sub-Advisers.

On the basis of these and other considerations, the Board determined that the advisory fee rate paid by each Fund to Symmetry, including, with respect to the Sub-Advised Funds, as portioned between Symmetry and each of the Sub-Advisers under

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the Agreements, was reasonable in light of the services provided and the risks borne by Symmetry and each Sub-Adviser, respectively.

Profitability. With respect to the profitability of the Funds to Symmetry, the Board reviewed aggregate and per Fund profitability data, including the management fees earned by Symmetry and the expenses paid by Symmetry out of such management fees. In discussing the fee arrangements between Symmetry and each Sub-Adviser, the Board noted that Symmetry pays each Sub-Adviser out of the advisory fee it receives from the Sub-Advised Funds. The Board also reviewed information comparing each Fund’s fee to the fees paid by comparable funds. The Board also considered Symmetry’s contractual arrangement to waive its advisory fee and/or reimburse expenses in an effort to control the expense ratios of the Funds. As part of this discussion, the Board recognized the competitiveness of the mutual fund industry and the importance of an investment adviser’s long-term profitability, including for maintaining management stability and accountability. The Board further recognized the difficulty in evaluating an investment adviser’s profitability with respect to the funds that the adviser manages in the context of an adviser with multiple lines of business, and noted that profitability methodologies vary across the industry and that court decisions have permitted investment advisers and their affiliates to use a wide variety of approaches in allocating costs and calculating profitability and have not prescribed any particular methodology. Based on its review, in the context of its full deliberations, the Board concluded the profitability to Symmetry from each Fund is not unreasonable or excessive.

Whether fee levels reflect economies of scale and the extent to which economies of scale would be realized as the Funds grow. The Board considered for each Fund whether economies of scale were realized, noting the fees waived and expenses reimbursed by Symmetry during the period. Based on its consideration of the factors above, the Board determined that there was a reasonable sharing of any realized economies of scale under the advisory and sub-advisory fee schedules at the present time. The Board determined to continue to assess on an ongoing basis whether the aggregate advisory fee for each Fund appropriately takes into account any economies of scale that had been realized as a result of any significant asset growth of a Fund.

Benefits to Symmetry, the Sub-Advisers, and their affiliates from their relationships with the Funds. The Board considered other benefits derived by Symmetry, the Sub-Advisers, and their affiliates from their relationships with the Funds. The Board noted that, although Symmetry and each Sub-Adviser has the ability to realize soft dollar benefits from its relationship with the Funds, none currently do so. The Board also considered the potential benefits flowing to Symmetry from sponsoring its own family of mutual funds and how the Funds may be used in delivering investment advisory services to Symmetry’s other clients. Based on its review, the Board determined that any “fall-out” benefits and other types of benefits that may accrue to Symmetry and the Sub-Advisers are fair and reasonable. The Board noted that it would have the opportunity to review the appropriateness of these benefits over time.

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Other considerations. The Board considered the investment objective and strategy of each Fund and noted that Symmetry believed the Funds enhance Symmetry’s product offerings. The Board noted that Symmetry had made a substantial commitment to the development of the strategy represented by each Fund and to the recruitment and retention of high quality personnel, and maintained the financial, compliance, and operational resources reasonably necessary to manage each Fund in a professional manner that is consistent with the best interests of each Fund and its respective shareholders. In this regard, the Board favorably considered Symmetry’s procedures and policies to enforce compliance with applicable laws and regulations and, with respect to the Sub-Advised Funds, oversee the sub-advisory activities of the Sub-Advisers. The Board also noted that Symmetry had made a significant entrepreneurial commitment to the development, management, and success of the Funds and assumed commensurate risk.

Conclusion. After consideration of the factors described above, as well as other factors, the Board, including all of the Independent Trustees, concluded that the terms of the Agreements evidenced substantial due diligence, arm’s length negotiation, and were consistent with the interests of the Funds and investors.

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Notice to Shareholders (Unaudited)

For shareholders that do not have an August 31, 2022 tax year end, this notice is for informational purposes only. For shareholders with an August 31, 2022 tax year end, please consult your tax advisor as to the pertinence of this notice. For the fiscal period ended August 31, 2022, the Fund is designating the following items with regard to distributions paid during the period:

	Return of Capital		Long Term Capital Gain Distributions		Ordinary Income Distributions		Tax-Exempt Income Distributions⁽⁶⁾		Total Distributions
Symmetry Panoramic US Equity Fund		0.00%		28.39%		71.61%		0.00%		100.00%
Symmetry Panoramic International Equity Fund		0.00%		0.00%		100.00%		0.00%		100.00%
Symmetry Panoramic Global Equity Fund		0.00%		9.01%		90.99%		0.00%		100.00%
Symmetry Panoramic Tax-Managed Global Equity Fund		0.00%		0.00%		100.00%		0.00%		100.00%
Symmetry Panoramic US Fixed Income Fund		0.00%		4.93%		95.07%		0.00%		100.00%
Symmetry Panoramic Municipal Fixed Income Fund		0.00%		0.00%		0.00%		100.00%		100.00%
Symmetry Panoramic Global Fixed Income Fund		0.00%		9.05%		90.95%		0.00%		100.00%
Symmetry Panoramic Alternatives Fund		0.00%		0.00%		100.00%		0.00%		100.00%

	Dividends Qualifying for Corporate Dividend Received Deduction⁽¹⁾		Qualifying Dividend Income⁽²⁾		U.S. Government Interest⁽³⁾		Interest Related Dividends⁽⁴⁾		Qualified Short-Term Capital Gain⁽⁵⁾
Symmetry Panoramic US Equity Fund		23.02%		25.32%		0.00%		0.00%		100.00%
Symmetry Panoramic International Equity Fund		12.98%		78.42%		0.00%		0.00%		0.00%
Symmetry Panoramic Global Equity Fund		21.66%		32.03%		0.00%		0.00%		100.00%
Symmetry Panoramic Tax-Managed Global Equity Fund		37.50%		73.35%		0.00%		0.00%		0.00%
Symmetry Panoramic US Fixed Income Fund		0.00%		0.00%		0.00%		0.00%		0.00%
Symmetry Panoramic Municipal Fixed Income Fund		0.00%		0.00%		0.00%		0.00%		0.00%
Symmetry Panoramic Global Fixed Income Fund		0.00%		0.00%		0.00%		0.00%		100.00%
Symmetry Panoramic Alternatives Fund		34.67%		42.21%		0.00%		0.00%		0.00%

The Funds intend to pass through foreign tax credit to shareholders. For the fiscal year ended August 31, 2022, the total amounts of foreign source income for the Symmetry Panoramic International Equity Fund, Symmetry Panoramic Tax-Managed Global Equity Fund and Symmetry Panoramic Global Fixed Income Fund were $7,360,614, $987,952 and $1,482,278, respectively. The total amounts of foreign taxes paid for the Symmetry Panoramic International Equity Fund, Symmetry Panoramic Tax-Managed Global Equity Fund and Symmetry Panoramic Global Fixed Income Fund were $351,788, $57,871 and $32,951, respectively.

(1)	Qualifying dividends represent dividends which qualify for the corporate dividends received deduction and are reflected as a percentage of ordinary income distributions (the total of short term capital gain and net investment income distributions).

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(2)

The percentage in this column represents the amount of “Qualifying Dividend Income” as created by the Jobs and Growth Tax Relief Reconciliation Act of 2003 and is reflected as a percentage of ordinary income distributions (the total of short term capital gain and net investment income distributions). It is the intention of the Fund to designate the maximum amount permitted by law.

(3)	“U.S. Government Interest” represents the amount of interest that was derived from direct U.S. Government obligations and distributed during the fiscal year. This amount is reflected as a percentage of ordinary income.

(4)	The percentage in this column represents the amount of “Interest Related Dividend” and is reflected as a percentage of ordinary income distributions. Interest related dividends are exempted from U.S. withholding tax when paid to foreign investors.

(5)	The percentage in this column represents the amount of “Short-Term Capital Gain Dividends” and is reflected as a percentage of short term capital gain distributions that is exempted from U.S. withholding tax when paid to foreign investors.

(6)

“Tax-exempt income distributions” represents the amount of interest that was derived from state exempt obligations and distributed during the fiscal year. This amount is reflected as a percentage of total distributions. Generally, interest from state obligations is exempt from state income tax. However, for shareholders of the Symmetry Panoramic Municipal Fixed Income Fund who are residents of California, Connecticut and New York, the statutory threshold requirements were not satisfied to permit exemption of these amounts from state income.

The information reported herein may differ from the information and distributions taxable to the shareholders for the calendar year ending December 31, 2022. Complete information will be computed and reported in conjunction with your 2022 Form 1099-DIV.

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Symmetry Panoramic Funds

P.O. Box 588

Portland, ME 04112

1-844-796-3863

Investment Adviser:

Symmetry Partners, LLC

151 National Drive

Glastonbury, CT 06033

Administrator:

SEI Investments Global Funds Services

One Freedom Valley Drive

Oaks, PA 19456

Distributor:

SEI Investments Distribution Co.

One Freedom Valley Drive

Oaks, PA 19456

Legal Counsel:

K&L Gates LLP

1601 K Street, NW

Washington, DC 20006-1600

Independent Registered Public Accounting Firm:

Cohen & Company, Ltd.

1350 Euclid Avenue, Suite 800

Cleveland, OH 44115

This report is not authorized for distribution to prospective investors in the Funds unless preceded or accompanied by an effective prospectus.

SYM-AR-001-0200

Item 2. Code of Ethics.

The Registrant has adopted a code of ethics that applies to the Registrant's principal executive officer, principal financial officer, comptroller or principal accounting officer or any person who performs a similar function.

Item 3. Audit Committee Financial Expert.

(a) (1) The Registrant’s Board of Trustees has determined that the Registrant has an audit committee financial expert serving on the audit committee.

(a) (2) The audit committee financial expert Tracie Ahern is an independent trustee as defined in Form N-CSR Item 3 (a) (2).

Item 4. Principal Accountant Fees and Services.

Fees billed by Cohen & Company, Ltd (Cohen) related to the Registrant.

Cohen billed the Registrant aggregate fees for services rendered to the Registrant for the last two fiscal years as follows:

		2022			2021
		All fees and services to the Trust that were pre-approved	All fees and services to service affiliates that were pre-approved	All other fees and services to service affiliates that did not require pre-approval	All fees and services to the Trust that were pre-approved	All fees and services to service affiliates that were pre-approved	All other fees and services to service affiliates that did not require pre-approval
(a)	Audit Fees	$101,500	N/A	N/A	$95,500	N/A	N/A
(b)	Audit-Related Fees	N/A	N/A	N/A	N/A	N/A	N/A
(c)	Tax Fees	$26,750	N/A	N/A	$24,750	N/A	N/A
(d)	All Other Fees	N/A	N/A	N/A	N/A	N/A	N/A

(e)(1) The Trust’s Audit Committee has adopted, and the Board of Trustees has ratified, the Charter of the Audit Committee, which sets forth, at Section 3(A) of the Charter, the procedures and the conditions pursuant to which services proposed to be performed by the independent auditor of the Trust may be pre-approved.

(e)(2) Percentage of fees billed applicable to non-audit services pursuant to waiver of pre-approval requirement were as follows:

	2022	2021
Audit-Related Fees	0%	0%
Tax Fees	0%	0%
All Other Fees	0%	0%

(f) Not Applicable.

(g) The aggregate non-audit fees and services billed by Cohen for the fiscal years 2022 and 2021 were $26,750 and $24,750, respectively.

(h) During the past fiscal year, all non-audit services provided by the Registrant’s principal accountant either to the Registrant’s investment adviser or to any entity controlling, controlled by, or under common control with the Registrant’s investment adviser that provides ongoing services to the Registrant, were pre-approved by the audit committee of the Registrant’s Board of Trustees. Included in the audit committee’s pre-approval was the review and consideration as to whether the provision of these non-audit services is compatible with maintaining the principal accountant’s independence.

(i) Not Applicable. The Registrant has not retained, for the preparation of the audit report on the financial statements included in the Form N-CSR, a registered public accounting firm that has a branch or office that is located in a foreign jurisdiction and that the Public Company Accounting Oversight Board (the “PCAOB”) has determined that the PCAOB is unable to inspect or investigate completely because of a position taken by an authority in the foreign jurisdiction.

(j) Not Applicable. The Registrant is not a “foreign issuer,” as defined in 17 CFR § 240.3b-4.

Item 5. Audit Committee of Listed Registrants.

Not applicable to open-end management investment companies.

Item 6. Investments

The Schedules of Investments are included as part of the report to shareholders filed under Item 1 of this form.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable to open-end management investment companies.

Item 8. Portfolio Managers of Closed-End Management Investment Companies

Not applicable to open-end management investment companies.

Item 9. Purchases of Equity Securities by Closed-End Management Company and Affiliated Purchasers.

Not applicable to open-end management investment companies.

Item 10. Submission of Matters to a Vote of Security Holders.

The Registrant currently does not have in place procedures by which shareholders may recommend nominees to the Registrant’s Board of Trustees.

Item 11. Controls and Procedures.

(a) The Registrant's principal executive and principal financial officers, or persons performing similar functions have concluded that the Registrant’s disclosure controls and procedures, as defined in Rule 30a-3(c) under the Act (17 CFR § 270.30a-3(c)) as of a date within 90 days of the filing date of the report, are effective based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the Act (17 CFR § 270.30a-3(b)) and Rule 13a-15(b) or Rule 15d-15(b) under the Exchange Act (17 CFR § 270.30a-15(b) or § 240.15d-15(b)).

(b) There has been no change in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR § 270.3a-3(d)) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable to open-end management investment companies.

Item 13. Exhibits.

(a)(1) Code of Ethics attached hereto.

(a)(2) A separate certification of each principal executive officer and principal financial officer of the Registrant, as required by Rule 30a-2(a) under the 1940 Act (17 CFR § 270.30a-2(a)), are filed herewith.

(b) Officer certifications as required by Rule 30a-2(b) under the 1940 Act (17 CFR § 270.30a-2(b)) also accompany this filing as an exhibit.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Symmetry Panoramic Trust

By	/s/ Philip R. McDonald
	Philip R. McDonald
	President

Date: November 8, 2022

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By	/s/ Philip R. McDonald
	Philip R. McDonald
	President

Date: November 8, 2022

By	/s/ Andrew Metzger
	Andrew Metzger
	Treasurer & Principal Financial Officer

Date: November 8, 2022

Symmetry Panoramic Trust N-CSRCertified annual shareholder report (management investment company)