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, 2023

Date of reporting period: August 31, 2023

Item 1. Reports to Stockholders.

(a)

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, 2023

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, 2023

Table of Contents

Shareholders’ Letter	1
Management Discussion of Fund Performance	6
Schedules of Investments	14
Statements of Assets and Liabilities	93
Statements of Operations	95
Statements of Changes in Net Assets	98
Financial Highlights	106
Notes to Financial Statements	114
Report of Independent Registered Public Accounting Firm	151
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, 2023
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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, 2023 (the “fiscal year” or “period”). During this fiscal year, the Symmetry Panoramic Funds celebrated their fourth anniversary. The Symmetry Panoramic Fund complex includes eight mutual funds that can be purchased individually or used to construct diversified, global, multi-factor, multi-asset-class portfolios. We believe we have a unique offering, combining a fund-of-funds structure with the ability to include sub-accounts, that allows us to access our preferred implementation from many well-known investment managers.

Fiscal year 2023 brought various unique challenges. While the severity of the global pandemic has declined, other economic concerns emerged. As economies that had been aggressively stimulated during the pandemic returned to normal levels of activity, inflation emerged as a concerning development. Early interpretations that this spike in inflation was only transitory quickly faded as the Consumer Price Index (“CPI”) reached levels not seen in four decades⁽ⁱ⁾. The U.S. Federal Reserve Board (the “Fed”) responded with a series of increases in the Federal Funds rate to combat inflation and the US inflation data suggest the Fed’s actions to tame inflation have been effective. U.S. inflation as measured by year over year CPI change decreased from 8.2% to 3.7% over Fiscal 2023⁽ⁱⁱ⁾. Despite the concerns of heightened inflation and the impact of the Fed’s actions on output, equity markets were hopeful for a “soft landing,” as returns were resilient globally. The global equity market⁽ⁱⁱⁱ⁾ was up more than 13% for the fiscal year, with non-U.S. developed equities^(iv) outperforming the U.S. equity market^(v) which, in turn, outperformed emerging markets equities^(vi).

Two of our strongest held beliefs are that (1) the power of diversification, which typically reduces the amount of risk that any individual holding, asset class, geography, or investing style, among other exposures, may contribute to the portfolio and (2) multi-factor (investment style) investing that emphasizes small, value, profitable, low volatility, and positive momentum styles in our strategies provides the potential to outperform markets over time. The Symmetry Panoramic equity funds turned in strong performance for the fiscal year with returns ranging from 10.1% to 11.9%, while trailing their respective benchmarks in part due to our broad diversification and multi-factor positioning. This was especially true in the U.S. equity markets as their rise was to a great extent concentrated in a handful of large-growth technology stocks. Small, value, low volatility, and momentum stocks generally trailed the broad market benchmarks in the U.S. Only higher quality (including higher profitability) companies outperformed the broad U.S. market. Style factors fared better outside the U.S. with value and quality outperforming in non-U.S. developed markets, and size, value, and low volatility outperforming in emerging markets^(vii). As a result, all four equity funds underperformed their benchmarks in fiscal year 2023 with the underperformance more pronounced in the U.S. equity fund. However, when looking at trailing 3-year performance through the end of fiscal year 2023, all of the Symmetry Panoramic equity funds have outperformed their respective benchmarks largely due to the

SYMMETRY PANORAMIC TRUST
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strong performance of value stocks in fiscal year 2022. The performance of the four equity funds relative to their respective benchmarks for fiscal year 2023 is summarized below.

Symmetry Panoramic Equity Funds		2022-09-01 to 2023-08-31
Symmetry Panoramic US Equity I		10.48%
MSCI US Broad Market USD		14.96%
SPUSX- Benchmark		-4.48%
Symmetry Panoramic International Equity I		10.52%
MSCI ACWI Ex USA IMI NR USD		11.62%
SPILX – Benchmark		-1.10%
Symmetry Panoramic Global Equity I		10.09%
Symmetry Panoramic Tax-Managed Glb Eq I		11.91%
MSCI ACWI IMI NR USD		13.33%
SPGEX – Benchmark		-3.24%
SPGTX – Benchmark		-1.42%

Many factor investors have for some time focused on an expected recovery in the equity value factor, after having historically challenging times leading up to and into the COVID pandemic and again in fiscal year 2023. While we welcome the contribution to performance that the value factor has provided in the past three years, we remain aware that each style factor may be in or out of favor at any given time and over different time periods. Our investment philosophy is based on extensive research demonstrating that style factors have the potential to outperform market capitalization weighted benchmarks over the long-term. We expect the style factors to contribute to long-term relative performance. This is likely to be especially true with respect to value stocks in market conditions where they return to a valuation spread with growth stocks that is more in line with historical averages.

During the fiscal year, the U.S. Treasury yield curve shifted upward, especially for shorter maturities. The market yield on the 10-Year Constant Maturity U.S. Treasury rose nearly 1% (i.e., from 3.26% to 4.09%) over the fiscal year^(viii), while the market yield on the 1-Year Constant Maturity U.S. Treasury rose nearly 2% (i.e., from 3.51% to 5.37%) over the same period^(ix). The yield on long bonds generally also rose globally. For example, the yield on the 10-Year Germany Government Bond also rose over 1.50% (i.e., from 1.03% to 2.55%) over the fiscal year^(x). Corporate credit spreads in the U.S. varied during the year but ended lower at the end of the period as compared to the beginning of the fiscal year for both investment grade^(xi) and high-yield debt^(xii). The returns of the Symmetry Panoramic fixed income funds were negatively impacted by the prevailing increase in yields. Their performance for fiscal year 2023 relative to their respective benchmarks is summarized below.

Symmetry Panoramic Fixed-Income Funds		2022-09-01 to 2023-08-31
Symmetry Panoramic US Fixed Income I		-0.22%
Bloomberg US Govt/Credit 1-5 Year USD		1.19%
SPUBX – Benchmark		-1.41%

SYMMETRY PANORAMIC TRUST
AUGUST 31, 2023
(Unaudited)

Symmetry Panoramic Fixed-Income Funds		2022-09-01 to 2023-08-31
Symmetry Panoramic Global Fixed Income I		-0.26%
Bloomberg Global Aggregate Hedged USD		0.55%
SPGBX – Benchmark		-0.81%
Symmetry Panoramic Municipal Fixed Income I		1.25%
S&P S/T National AMT Free Muni USD		1.60%
SPMFX – Benchmark		-0.35%

Our alternatives fund has three main themes. Specifically, managed futures, long-short styles across asset classes, and diversified arbitrage strategies. The long-short style theme resulted in strong, positive performance for the Symmetry Panoramic Alternative Fund relative to benchmark, while managed futures returned benchmark-like performance and diversified arbitrage trailed the benchmark for the period. We believe investors can benefit from having additional diversification to alternative asset classes as compared to portfolios with exposure only to traditional asset classes such as equity and fixed income. The Symmetry Alternatives Fund performance for fiscal year 2023 relative to its benchmark is summarized below.

Symmetry Panoramic Alternative Fund		2022-09-01 to 2023-08-31
Symmetry Panoramic Alternatives I		5.76%
HFRI FOF: Conservative Index		4.00%
SPATX – Benchmark		1.76%

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. We at Symmetry are still prioritizing diversification and multi-factor investment strategies, and we remain focused on strategic investment priorities over a horizon that extends beyond near-term considerations. In order to capture the returns of capital markets, one likely needs to remain invested even through uncertain times.

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

Sincerely,

John McDermott, Ph. D.

President

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 U.S. Securities and Exchange Commission 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 positive investment returns as well as loss. Due to various factors, including changing market conditions and/or applicable laws, the content herein 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

SYMMETRY PANORAMIC TRUST
AUGUST 31, 2023
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methodology, however, does not guarantee positive investment returns or protection from loss in a declining market. Past performance does not guarantee future results.

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 performance of an index or index-based portfolios. There is always the risk that an investor may lose money. Even a long-term investment approach cannot guarantee positive investment returns. 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 necessarily represent similar asset classes as represented in client portfolios in terms of components or risk exposure; thus, the returns of indexes and the returns of actual client portfolios may vary significantly.

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

(ii) Source: FactSet

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

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

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

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

(vii) Source: Ken French Data Library at https://mba.tuck.dartmouth.edu/pages/faculty/ken.french/data_library.html

(viii) Source: Board of Governors of the Federal Reserve System (US), Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity, Quoted on an Investment Basis [DGS10], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/DGS10, October 6, 2023.

(ix) Source: Board of Governors of the Federal Reserve System (US), Market Yield on U.S. Treasury Securities at 1-Year Constant Maturity, Quoted on an Investment Basis [DGS1], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/DGS1, October 6, 2023.

(x) Source: Organization for Economic Co-operation and Development, Interest Rates: Long-Term Government Bond Yields: 10-Year: Main (Including Benchmark) for Germany [IRLTLT01DEM156N], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/IRLTLT01DEM156N, October 6, 2023.

(xi) Source: Ice Data Indices, LLC, ICE BofA Single-A US Corporate Index Option-Adjusted Spread [BAMLC0A3CA], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/BAMLC0A3CA, October 7, 2023.

(xii) Source: Ice Data Indices, LLC, ICE BofA BB US High Yield Index Option-Adjusted Spread [BAMLH0A1HYBB], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/BAMLH0A1HYBB, October 7, 2023.

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

SYMMETRY PANORAMIC TRUST
AUGUST 31, 2023
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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 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, 2023
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Management Discussion of Fund Performance

Growth of a $10,000 Investment

	AVERAGE ANNUAL TOTAL RETURN FOR THE YEAR ENDED AUGUST 31, 2023
		One Year Return	Three Year Return	Annualized Inception to Date*
Symmetry Panoramic US Equity Fund, Class I		10.48%	11.03%	9.59%
MSCI US Broad Market Index		14.96%	10.03%	12.45%

* 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 description of comparative indices on page 5.

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2023
(Unaudited)

Management Discussion of Fund Performance

Growth of a $10,000 Investment

	AVERAGE ANNUAL TOTAL RETURN FOR THE YEAR ENDED AUGUST 31, 2023
		One Year Return	Three Year Return	Annualized Inception to Date*
Symmetry Panoramic International Equity Fund, Class I		10.52%	4.89%	4.58%
MSCI ACWI ex USA Investable Market Index (net)		11.62%	4.10%	5.17%

* 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 description of comparative indices on page 5.

SYMMETRY GLOBAL EQUITY FUND
AUGUST 31, 2023
(Unaudited)

Management Discussion of Fund Performance

Growth of a $10,000 Investment

	AVERAGE ANNUAL TOTAL RETURN FOR THE YEAR ENDED AUGUST 31, 2023
		One Year Return	Three Year Return	Annualized Inception to Date*
Symmetry Panoramic Global Equity Fund, Class I		10.09%	8.45%	7.56%
MSCI ACWI Investable Market Index (net)		13.33%	7.29%	9.03%

* 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 description of comparative indices on page 5.

SYMMETRY PANORAMIC TAX-MANAGED GLOBAL EQUITY FUND
AUGUST 31, 2023
(Unaudited)

Management Discussion of Fund Performance

Growth of a $10,000 Investment

	AVERAGE ANNUAL TOTAL RETURN FOR THE YEAR ENDED AUGUST 31, 2023
		One Year Return	Three Year Return	Annualized Inception to Date*
Symmetry Panoramic Tax-Managed Global Equity Fund, Class I		11.91%	8.68%	7.89%
MSCI ACWI Investable Market Index (net)		13.33%	7.29%	9.03%

* 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 description of comparative indices on page 5.

SYMMETRY PANORAMIC US FIXED INCOME FUND
AUGUST 31, 2023
(Unaudited)

Management Discussion of Fund Performance

Growth of a $10,000 Investment

	AVERAGE ANNUAL TOTAL RETURN FOR THE YEAR ENDED AUGUST 31, 2023
		One Year Return	Three Year Return	Annualized Inception to Date*
Symmetry Panoramic US Fixed Income Fund, Class I		-0.22%	-3.20%	0.54%
Bloomberg 1-5 Year US Government/Credit Index		1.19%	-1.49%	1.28%

* 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 description of comparative indices on page 5.

SYMMETRY PANORAMIC MUNICIPAL FIXED INCOME FUND
AUGUST 31, 2023
(Unaudited)

Management Discussion of Fund Performance

Growth of a $10,000 Investment

	AVERAGE ANNUAL TOTAL RETURN FOR THE YEAR ENDED AUGUST 31, 2023
		One Year Return	Three Year Return	Annualized Inception to Date*
Symmetry Panoramic Municipal Fixed Income Fund, Class I		1.25%	-0.75%	0.48%
S&P Short Term National AMT-Free Municipal Bond Index		1.60%	-0.12%	1.21%

* 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 description of comparative indices on page 5.

SYMMETRY PANORAMIC GLOBAL FIXED INCOME FUND
AUGUST 31, 2023
(Unaudited)

Management Discussion of Fund Performance

Growth of a $10,000 Investment

	AVERAGE ANNUAL TOTAL RETURN FOR THE YEAR ENDED AUGUST 31, 2023
		One Year Return	Three Year Return	Annualized Inception to Date*
Symmetry Panoramic Global Fixed Income Fund, Class I		-0.26%	-4.12%	0.12%
Bloomberg Capital Global Aggregate Hedged USD Index		0.55%	-3.03%	1.00%

* 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 description of comparative indices on page 5.

SYMMETRY PANORAMIC ALTERNATIVES FUND
AUGUST 31, 2023
(Unaudited)

Management Discussion of Fund Performance

Growth of a $10,000 Investment

	AVERAGE ANNUAL TOTAL RETURN FOR THE YEAR ENDED AUGUST 31, 2023
		One Year Return	Three Year Return	Annualized Inception to Date*
Symmetry Panoramic Alternatives Fund, Class I		5.76%	9.52%	5.43%
HFRI Fund of Funds Conservative Index		4.13%	5.53%	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 description of comparative indices on page 5.

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2023

SECTOR WEIGHTINGS^† (UNAUDITED)

^†	Percentages are based on total investments. Total investments does not include futures.

SCHEDULE OF INVESTMENTS
COMMON STOCK — 64.1%
	Shares		Value
BERMUDA — 0.0%
RenaissanceRe Holdings		287	$	53,924

CHINA — 0.0%
NXP Semiconductors		1,309		269,288

MEXICO — 0.0%
Southern Copper		787		63,479

SWEDEN — 0.0%
Autoliv		517		50,459

UNITED STATES — 64.1%
COMMUNICATION SERVICES — 3.5%
Activision Blizzard		3,284		302,095
Alphabet, Cl A *		21,970		2,991,655
Alphabet, Cl C *		19,195		2,636,433
Atlanta Braves Holdings, Cl C *		87		3,190
Charter Communications, Cl A *		404		177,001
Comcast, Cl A		34,500		1,613,220
Endeavor Group Holdings, Cl A		1,794		39,271
Fox, Cl A		3,472		114,784
Fox, Cl B		2,648		80,817

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

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
COMMUNICATION SERVICES — continued
GCI Liberty *		1,489	$	—
Interpublic Group		4,420		144,136
Liberty Broadband, Cl C *		1,858		173,835
Liberty Media -Liberty Formula One, Cl C *		2,990		205,682
Liberty Media -Liberty SiriusXM *		2,176		53,181
Liberty Media -Liberty SiriusXM, Cl A *		1,491		35,829
Live Nation Entertainment *		1,417		119,779
Meta Platforms, Cl A *		22,679		6,710,489
Netflix *		2,463		1,068,154
News, Cl A		5,717		122,858
News, Cl B		2,934		64,548
Omnicom Group		3,901		316,020
Pinterest, Cl A *		1,763		48,465
ROBLOX, Cl A *		977		27,639
Roku, Cl A *		656		53,267
Sirius XM Holdings		6,667		29,335
Snap, Cl A *		4,654		48,169
Spotify Technology *		279		42,958
T-Mobile US *		5,608		764,090
Trade Desk, Cl A *		4,688		375,181
Warner Bros Discovery *		13,288		174,604
				18,536,685

CONSUMER DISCRETIONARY — 5.7%
Airbnb, Cl A *		1,134		149,178
Amazon.com *		5,954		821,711
Aptiv *		1,406		142,639
Aramark		3,598		133,774
AutoNation *		7,727		1,213,834
AutoZone *		394		997,344
Bath & Body Works		3,762		138,705
Best Buy		1,307		99,920
Booking Holdings *		164		509,225
BorgWarner		7,978		325,103
Burlington Stores *		229		37,158
Caesars Entertainment *		2,917		161,193
Carnival *		5,725		90,569
Chipotle Mexican Grill, Cl A *		180		346,795
Choice Hotels International		751		95,302
Churchill Downs		655		82,058

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

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
CONSUMER DISCRETIONARY — continued
Columbia Sportswear		510	$	37,403
Darden Restaurants		1,419		220,669
Deckers Outdoor *		1,308		692,050
Dick's Sporting Goods		6,194		720,610
Domino's Pizza		573		221,980
DoorDash, Cl A *		805		67,725
DR Horton		7,345		874,202
DraftKings, Cl A *		1,540		45,661
Expedia Group *		668		72,405
Five Below *		508		87,356
Floor & Decor Holdings, Cl A *		2,348		234,096
Ford Motor		32,143		389,895
Garmin		2,036		215,857
General Motors		10,175		340,964
Gentex		7,467		243,872
Genuine Parts		1,331		204,615
H&R Block		1,278		51,094
Hilton Worldwide Holdings		1,877		279,016
Home Depot		5,159		1,704,018
Hyatt Hotels, Cl A		425		47,774
Las Vegas Sands		3,090		169,517
Lear		1,493		215,126
Lennar, Cl A		5,805		691,317
Lennar, Cl B		300		31,998
LKQ		12,623		663,086
Lowe's		5,107		1,177,061
Lululemon Athletica *		1,350		514,701
Marriott International, Cl A		1,649		335,588
McDonald's		3,961		1,113,635
MGM Resorts International *		3,975		174,821
NVR *		62		395,394
Ollie's Bargain Outlet Holdings *		831		64,053
O'Reilly Automotive *		717		673,765
Penske Automotive Group		7,265		1,193,640
Phinia		721		20,055
Polaris		1,662		186,294
Pool		1,364		498,678
PulteGroup		14,710		1,207,103
PVH		1,809		151,232
Ralph Lauren, Cl A		644		75,110
Rivian Automotive, Cl A *		3,071		69,804

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

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
CONSUMER DISCRETIONARY — continued
Ross Stores		2,898	$	353,005
Royal Caribbean Cruises *		2,591		256,354
Service International		2,804		176,960
Skechers USA, Cl A *		1,186		59,668
Starbucks		5,137		500,549
Tapestry		8,475		282,387
Tesla *		9,973		2,573,832
TJX		10,611		981,305
Toll Brothers		8,635		707,466
TopBuild *		516		149,681
Tractor Supply		3,585		783,323
Ulta Beauty *		706		293,011
Vail Resorts		505		114,292
Williams-Sonoma		4,629		653,615
Wynn Resorts		834		84,551
Yum! Brands		2,040		263,935
				29,951,682

CONSUMER STAPLES — 3.8%
Altria Group		9,338		412,926
Archer-Daniels-Midland		3,138		248,843
BJ's Wholesale Club Holdings *		791		53,305
Brown-Forman, Cl A		359		24,136
Brown-Forman, Cl B		1,246		82,398
Bunge		1,742		199,145
Campbell Soup		4,409		183,855
Casey's General Stores		678		165,710
Celsius Holdings *		347		68,026
Church & Dwight		2,027		196,153
Clorox		280		43,806
Coca-Cola		18,080		1,081,726
Colgate-Palmolive		4,095		300,860
Constellation Brands, Cl A		769		200,371
Costco Wholesale		1,797		987,056
Coty, Cl A *		12,953		149,737
Darling Ingredients *		2,717		167,802
Dollar General		3,693		511,480
Dollar Tree *		3,120		381,763
Estee Lauder, Cl A		1,087		174,496
General Mills		3,402		230,179

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

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
CONSUMER STAPLES — continued
Hershey		969	$	208,199
J M Smucker		7,319		1,060,889
Kellogg		4,310		262,996
Kenvue		27,454		632,815
Keurig Dr Pepper		3,589		120,770
Kimberly-Clark		637		82,065
Kraft Heinz		3,975		131,533
Kroger		16,235		753,142
Lamb Weston Holdings		2,341		228,037
McCormick		1,686		138,404
Molson Coors Beverage, Cl B		1,922		122,028
Mondelez International, Cl A		11,963		852,483
Monster Beverage *		2,824		162,126
PepsiCo		12,293		2,187,170
Performance Food Group *		1,576		97,917
Philip Morris International		6,507		625,063
Procter & Gamble		11,235		1,734,010
Sysco		3,290		229,148
Target		5,959		754,112
US Foods Holding *		5,439		219,899
Walmart		23,357		3,798,082
				20,264,661

ENERGY — 5.6%
APA		12,477		546,992
Baker Hughes, Cl A		9,283		335,952
Cheniere Energy		1,815		296,208
Chesapeake Energy		3,575		315,351
Chevron		28,587		4,605,366
ConocoPhillips		22,826		2,716,979
Coterra Energy		8,475		238,910
Devon Energy		16,520		844,007
Diamondback Energy		5,824		883,967
EOG Resources		12,221		1,571,865
EQT		2,836		122,572
Exxon Mobil		74,069		8,235,732
Halliburton		11,488		443,666
Hess		2,620		404,790
HF Sinclair		2,800		154,252
Kinder Morgan		12,238		210,738

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

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
ENERGY — continued
Marathon Oil		74,648	$	1,966,975
Marathon Petroleum		8,069		1,152,011
Occidental Petroleum		14,200		891,618
ONEOK		6,358		414,542
Ovintiv		3,729		175,114
Phillips 66		3,800		433,808
Pioneer Natural Resources		1,684		400,674
Range Resources		1,508		48,829
Schlumberger		7,561		445,796
Targa Resources		3,612		311,535
Texas Pacific Land		64		120,624
Valero Energy		9,355		1,215,214
Vitesse Energy		141		3,288
Williams		6,566		226,724
				29,734,099

FINANCIALS — 8.1%
Aflac		6,300		469,791
Allstate		5,636		607,617
Ally Financial		5,697		157,750
American Express		3,969		627,062
American Financial Group		1,501		173,996
American International Group		4,577		267,846
Ameriprise Financial		4,223		1,425,600
Aon, Cl A		2,189		729,791
Apollo Global Management		2,331		203,590
Arch Capital Group *		12,590		967,667
Ares Management, Cl A		1,108		114,612
Arthur J Gallagher		1,311		302,159
Assurant		1,374		191,439
Assured Guaranty		9,901		582,575
Bank of America		30,969		887,881
Bank of New York Mellon		6,027		270,431
Bank OZK		3,480		139,792
Berkshire Hathaway, Cl B *		7,873		2,835,855
BlackRock, Cl A		553		387,399
Blackstone, Cl A		3,114		331,236
Brown & Brown		4,375		324,187
Capital One Financial		3,001		307,272
Carlyle Group		4,228		136,776

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

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
FINANCIALS — continued
Cboe Global Markets		1,155	$	172,915
Charles Schwab		6,282		371,580
Chubb		1,920		385,670
Cincinnati Financial		1,700		179,843
Citigroup		9,203		379,992
Citizens Financial Group		4,500		126,585
CME Group, Cl A		1,526		309,290
CNA Financial		896		35,240
Coinbase Global, Cl A *		732		58,267
Discover Financial Services		3,734		336,321
East West Bancorp		15,842		876,696
Equitable Holdings		7,205		207,504
Erie Indemnity, Cl A		557		155,253
Everest Group		1,103		397,830
F&G Annuities & Life		412		11,664
FactSet Research Systems		625		272,756
Fidelity National Financial		10,150		420,210
Fifth Third Bancorp		6,198		164,557
First American Financial		1,494		92,150
First Citizens BancShares, Cl A		239		325,136
Fiserv *		2,422		294,007
FleetCor Technologies *		1,056		286,947
Franklin Resources		3,098		82,841
Global Payments		308		39,021
Globe Life		1,644		183,421
Goldman Sachs Group		2,179		714,080
Hartford Financial Services Group		6,201		445,356
Huntington Bancshares		13,524		149,981
Interactive Brokers Group, Cl A		500		45,540
Intercontinental Exchange		1,852		218,518
Invesco		2,348		37,380
Jack Henry & Associates		1,075		168,539
Jefferies Financial Group		3,109		110,960
JPMorgan Chase		41,849		6,123,764
KKR		2,812		176,622
Loews		2,777		172,424
LPL Financial Holdings		893		205,917
M&T Bank		1,264		158,063
Markel Group *		120		177,470
MarketAxess Holdings		273		65,774
Marsh & McLennan		3,015		587,895

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

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
FINANCIALS — continued
Mastercard, Cl A		4,779	$	1,972,007
MetLife		2,575		163,101
Moody's		923		310,866
Morgan Stanley		20,347		1,732,547
Morningstar		512		119,127
MSCI, Cl A		498		270,723
Nasdaq		8,031		421,467
New York Community Bancorp		23,104		283,717
Northern Trust		2,133		162,257
Old Republic International		3,920		107,212
PNC Financial Services Group		1,806		218,038
Primerica		441		88,623
Principal Financial Group		2,833		220,153
Progressive		5,413		722,473
Prudential Financial		3,417		323,487
Raymond James Financial		2,739		286,472
Regions Financial		54,159		993,276
Reinsurance Group of America, Cl A		1,003		139,036
Robinhood Markets, Cl A *		7,751		84,408
S&P Global		1,257		491,311
SEI Investments		2,552		158,377
State Street		3,066		210,757
Synchrony Financial		31,809		1,026,795
Tradeweb Markets, Cl A		940		81,244
Travelers		3,002		484,012
Unum Group		7,090		348,757
US Bancorp		5,768		210,705
Visa, Cl A		7,633		1,875,275
Wells Fargo		19,284		796,236
Willis Towers Watson		967		199,937
WR Berkley		4,953		306,393
				42,975,092

HEALTH CARE — 8.6%
Abbott Laboratories		6,781		697,765
AbbVie		12,338		1,813,193
Agilent Technologies		2,087		252,673
agilon health *		2,031		35,989
Align Technology *		224		82,911
Alnylam Pharmaceuticals *		673		133,133

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

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
HEALTH CARE — continued
Amgen		2,879	$	738,003
Baxter International		4,013		162,928
Becton Dickinson		973		271,905
Biogen *		884		236,346
BioMarin Pharmaceutical *		1,333		121,810
Bio-Rad Laboratories, Cl A *		276		110,455
Bio-Techne		1,597		125,205
Boston Scientific *		4,427		238,792
Bristol-Myers Squibb		9,589		591,162
Bruker		600		39,360
Cardinal Health		3,324		290,285
Cencora, Cl A		5,419		953,636
Centene *		3,902		240,558
Charles River Laboratories International *		201		41,571
Cigna Group		2,708		748,112
Cooper		384		142,076
CVS Health		9,497		618,920
Danaher		5,558		1,472,870
DaVita *		2,294		234,951
DENTSPLY SIRONA		1,306		48,440
DexCom *		1,310		132,284
Edwards Lifesciences *		1,683		128,699
Elevance Health		2,174		960,930
Eli Lilly		10,845		6,010,299
Exact Sciences *		561		46,939
Fortrea Holdings *		905		24,933
GE HealthCare Technologies		1,824		128,524
Gilead Sciences		15,684		1,199,512
HCA Healthcare		4,997		1,385,668
Henry Schein *		2,209		169,077
Hologic *		3,662		273,698
Horizon Therapeutics *		1,876		211,500
Humana		1,491		688,290
IDEXX Laboratories *		883		451,575
Insulet *		201		38,534
Intuitive Surgical *		816		255,147
IQVIA Holdings *		1,590		353,982
Jazz Pharmaceuticals *		876		125,583
Johnson & Johnson		12,136		1,962,148
Laboratory Corp of America Holdings		1,179		245,350
McKesson		5,097		2,101,595

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

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
HEALTH CARE — continued
Medtronic		4,394	$	358,111
Merck		54,742		5,965,783
Mettler-Toledo International *		275		333,707
Moderna *		2,248		254,181
Molina Healthcare *		2,627		814,685
Neurocrine Biosciences *		980		106,712
Penumbra *		60		15,870
Pfizer		46,814		1,656,279
Quest Diagnostics		3,134		412,121
Regeneron Pharmaceuticals *		627		518,209
Repligen *		751		130,606
ResMed		1,703		271,782
Revvity		1,253		146,639
Royalty Pharma, Cl A		2,289		68,258
Sarepta Therapeutics *		356		43,080
Seagen *		699		144,043
Shockwave Medical *		137		30,193
STERIS		725		166,453
Stryker		1,096		310,771
Teleflex		95		20,210
Thermo Fisher Scientific		2,241		1,248,461
United Therapeutics *		2,503		561,573
UnitedHealth Group		4,458		2,124,594
Universal Health Services, Cl B		1,352		182,114
Veeva Systems, Cl A *		468		97,672
Vertex Pharmaceuticals *		1,838		640,249
Viatris, Cl W		2,200		23,650
Waters *		629		176,623
West Pharmaceutical Services		357		145,263
Zimmer Biomet Holdings		1,614		192,260
Zoetis, Cl A		4,192		798,618
				45,296,086

INDUSTRIALS — 9.6%
A O Smith		3,236		234,610
Acuity Brands		270		43,546
Advanced Drainage Systems		211		27,042
AECOM		3,086		270,796
AGCO		3,452		447,138
Air Lease, Cl A		1,766		71,982

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

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
		Shares		Value
UNITED STATES — continued
INDUSTRIALS — continued
Allegion			1,516	$	172,536
Allison Transmission Holdings			3,317		200,513
American Airlines Group *			10,957		161,397
AMETEK			2,718		433,548
Automatic Data Processing			2,924		744,480
Axon Enterprise *			153		32,575
Boeing *			2,431		544,617
Booz Allen Hamilton Holding, Cl A			6,510		737,648
Broadridge Financial Solutions			2,422		451,001
Builders FirstSource *			12,903		1,871,451
Carlisle			1,518		399,264
Carrier Global			4,546		261,168
Caterpillar			2,913		818,932
Ceridian HCM Holding *			626		45,397
CH Robinson Worldwide			955		86,361
Cintas			1,601		807,176
Clean Harbors *			603		102,112
Copart *			17,236		772,690
Core & Main, Cl A *			1,408		46,239
CSX			18,285		552,207
Cummins			4,666		1,073,367
Deere			2,423		995,708
Delta Air Lines			6,402		274,518
Donaldson			679		43,368
Dover			5,954		882,978
Eaton	��		7,093		1,634,014
EMCOR Group			202		45,298
Emerson Electric			4,893		480,737
Equifax			822		169,907
Esab			3,333		240,543
Expeditors International of Washington			3,414		398,448
Fastenal			13,458		774,912
FedEx			1,424		371,692
Ferguson			1,083		174,969
Fortive			6,075		479,014
Fortune Brands Innovations			4,849		334,678
FTI Consulting *			854		158,690
General Dynamics			1,226		277,861
General Electric			9,383		1,073,940
Graco			2,579		203,586
HEICO			933		157,406

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

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
INDUSTRIALS — continued
HEICO, Cl A		711	$	96,291
Honeywell International		2,962		556,678
Howmet Aerospace		8,692		429,993
Hubbell, Cl B		2,810		916,200
Huntington Ingalls Industries		492		108,397
IDEX		1,449		328,054
Illinois Tool Works		2,042		505,089
Ingersoll Rand		10,738		747,472
ITT		5,213		533,186
Jacobs Solutions		4,060		547,369
JB Hunt Transport Services		2,083		391,354
Johnson Controls International		6,565		387,729
Knight-Swift Transportation Holdings, Cl A		1,320		72,362
L3Harris Technologies		984		175,241
Landstar System		1,983		376,393
Leidos Holdings		1,976		192,680
Lennox International		1,596		601,389
Lincoln Electric Holdings		923		177,641
Lockheed Martin		1,729		775,197
Masco		2,793		164,815
MDU Resources Group		1,775		36,139
Middleby *		240		34,942
MSC Industrial Direct, Cl A		423		43,171
Nordson		1,091		266,357
Norfolk Southern		2,433		498,789
Northrop Grumman		637		275,878
nVent Electric		1,044		59,028
Old Dominion Freight Line		3,240		1,384,679
Otis Worldwide		2,931		250,747
Owens Corning		5,907		850,076
PACCAR		10,036		825,862
Parker-Hannifin		2,716		1,132,300
Paychex		1,698		207,547
Paycom Software		453		133,562
Paylocity Holding *		364		72,982
Pentair		5,747		403,784
Quanta Services		6,618		1,388,920
Regal Beloit		3,788		614,376
Republic Services, Cl A		2,432		350,524
Robert Half		510		37,720
Rockwell Automation		1,009		314,889

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

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
INDUSTRIALS — continued
Rollins		3,031	$	119,937
RTX		6,888		592,643
Ryder System		524		52,767
Saia *		113		48,161
Snap-on		2,088		560,837
Tetra Tech		304		47,834
Textron		2,959		229,944
Timken		1,532		117,075
Toro		2,042		208,937
Trane Technologies		6,331		1,299,501
TransDigm Group *		367		331,713
Uber Technologies *		1,759		83,078
U-Haul Holding *		274		15,610
U-Haul Holding, Cl B		2,466		131,290
Union Pacific		4,705		1,037,782
United Airlines Holdings *		32,811		1,634,316
United Parcel Service, Cl B		6,527		1,105,674
United Rentals		4,251		2,025,771
Verisk Analytics, Cl A		2,096		507,693
Vertiv Holdings, Cl A		3,671		144,601
Waste Management		3,097		485,548
Watsco		1,090		397,359
Westinghouse Air Brake Technologies		3,148		354,213
WillScot Mobile Mini Holdings *		2,899		118,917
WW Grainger		1,402		1,001,224
XPO *		2,390		178,366
Xylem		3,101		321,077
				50,999,730

INFORMATION TECHNOLOGY — 15.6%
Accenture, Cl A		6,813		2,205,845
Adobe *		2,061		1,152,800
Advanced Micro Devices *		6,860		725,239
Akamai Technologies *		2,595		272,709
Amdocs		2,590		231,028
Amphenol, Cl A		5,271		465,851
Analog Devices		1,887		343,019
ANSYS *		498		158,797
Apple		84,221		15,822,599
Applied Materials		4,950		756,162

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

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
INFORMATION TECHNOLOGY — continued
AppLovin, Cl A *		2,547	$	110,081
Arista Networks *		1,632		318,615
Arrow Electronics *		2,061		274,999
Aspen Technology *		407		78,958
Atlassian, Cl A *		245		49,995
Autodesk *		696		154,470
Avnet		860		43,645
BILL Holdings *		931		107,344
Black Knight *		1,347		102,049
Broadcom		5,579		5,148,803
Cadence Design Systems *		3,228		776,140
CDW		4,332		914,702
Cirrus Logic *		1,136		93,198
Cisco Systems		21,543		1,235,491
Cognex		373		17,561
Cognizant Technology Solutions, Cl A		4,719		337,928
Confluent, Cl A *		1,189		39,344
Corning		6,629		217,564
Crowdstrike Holdings, Cl A *		183		29,835
Datadog, Cl A *		214		20,647
Dell Technologies, Cl C		1,924		108,206
Dropbox, Cl A *		4,271		118,691
Dynatrace *		2,582		124,452
Enphase Energy *		893		112,991
Entegris		1,557		157,677
EPAM Systems *		657		170,157
Fair Isaac *		608		549,991
First Solar *		2,695		509,679
Flex *		5,048		139,274
Fortinet *		8,271		497,997
Gartner *		1,457		509,484
Gen Digital		10,521		213,050
GLOBALFOUNDRIES *		236		13,039
GoDaddy, Cl A *		974		70,625
Hewlett Packard Enterprise		22,176		376,770
HP		9,296		276,184
HubSpot *		117		63,943
Intel		10,886		382,534
International Business Machines		9,045		1,328,077
Intuit		750		406,358
Jabil		7,481		855,976

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

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
INFORMATION TECHNOLOGY — continued
Juniper Networks		4,413	$	128,507
Keysight Technologies *		5,333		710,889
KLA		3,019		1,515,146
Lam Research		2,639		1,853,634
Lattice Semiconductor *		5,505		535,416
Manhattan Associates *		800		162,096
Marvell Technology		4,925		286,881
Microchip Technology		4,354		356,331
Micron Technology		7,726		540,356
Microsoft		46,020		15,083,515
MongoDB, Cl A *		114		43,468
Monolithic Power Systems		232		120,921
Motorola Solutions		3,324		942,587
NetApp		1,536		117,811
Nutanix, Cl A *		3,981		123,809
NVIDIA		20,875		10,302,856
Okta, Cl A *		1,432		119,586
ON Semiconductor *		16,319		1,606,769
Oracle		7,002		842,971
Palantir Technologies, Cl A *		6,790		101,714
Palo Alto Networks *		558		135,761
Procore Technologies *		637		43,029
PTC *		1,123		165,272
Pure Storage, Cl A *		1,082		39,590
Qorvo *		1,046		112,330
QUALCOMM		8,911		1,020,577
Roper Technologies		445		222,082
Salesforce *		2,215		490,534
Seagate Technology Holdings		3,865		273,603
ServiceNow *		215		126,599
Skyworks Solutions		2,441		265,434
Splunk *		213		25,828
Super Micro Computer *		363		99,854
Synopsys *		2,033		932,923
TD SYNNEX		3,915		398,351
TE Connectivity		1,704		225,593
Teledyne Technologies *		1,397		584,365
Teradyne		4,998		539,134
Texas Instruments		5,074		852,737
Trimble *		2,367		129,688
Twilio, Cl A *		1,416		90,213

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

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
INFORMATION TECHNOLOGY — continued
Tyler Technologies *		233	$	92,834
Ubiquiti		839		146,850
VeriSign *		777		161,453
VMware, Cl A *		814		137,387
Western Digital *		3,634		163,530
Workday, Cl A *		187		45,722
Zebra Technologies, Cl A *		712		195,807
Zoom Video Communications, Cl A *		352		25,003
Zscaler *		223		34,799
				82,462,718

MATERIALS — 2.4%
Air Products & Chemicals		312		92,193
Albemarle		3,508		697,075
Amcor		11,449		111,513
AptarGroup		607		80,464
Avery Dennison		1,415		266,558
Ball		300		16,335
Berry Global Group		2,198		143,617
Celanese, Cl A		1,553		196,237
CF Industries Holdings		999		76,993
Chemours		10,730		365,035
Corteva		4,158		210,021
Crown Holdings		3,489		323,291
Dow		10,340		564,150
DuPont de Nemours		3,291		253,045
Eagle Materials		1,088		205,980
Eastman Chemical		2,034		172,910
Element Solutions		4,689		96,687
FMC		1,361		117,359
Freeport-McMoRan		16,365		653,127
Graphic Packaging Holding		5,617		124,922
International Paper		3,582		125,083
Linde		2,187		846,456
LyondellBasell Industries, Cl A		6,571		649,018
Martin Marietta Materials		531		237,044
Mosaic		7,447		289,316
Nucor		7,329		1,261,321
Olin		7,245		420,355
Packaging Corp of America		3,028		451,475

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

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
MATERIALS — continued
PPG Industries		2,282	$	323,496
Reliance Steel & Aluminum		3,598		1,025,286
RPM International		4,289		427,785
Sherwin-Williams		1,439		391,005
Steel Dynamics		8,184		872,333
Vulcan Materials		1,380		301,185
Westlake		1,500		196,470
				12,585,140

REAL ESTATE — 0.1%
CBRE Group, Cl A *		6,825		580,466
Zillow Group, Cl A *		875		44,555
Zillow Group, Cl C *		2,176		113,500
				738,521

UTILITIES — 1.1%
AES		5,821		104,371
Alliant Energy		1,852		92,915
Ameren		1,670		132,381
American Electric Power		2,485		194,824
American Water Works		1,226		170,095
Atmos Energy		3,484		403,970
Avangrid		659		22,735
Brookfield Renewable, Cl A		1,389		38,823
CenterPoint Energy		5,209		145,279
CMS Energy		1,584		89,005
Consolidated Edison		2,264		201,405
Constellation Energy		2,197		228,839
Dominion Energy		2,595		125,961
DTE Energy		1,300		134,394
Duke Energy		2,844		252,547
Edison International		1,730		119,110
Entergy		1,355		129,064
Essential Utilities		3,319		122,471
Evergy		1,983		109,005
Exelon		7,674		307,881
FirstEnergy		3,669		132,341
NextEra Energy		10,148		677,886
NiSource		5,185		138,751
NRG Energy		2,500		93,875

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

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
UTILITIES — continued
PG&E *		18,170	$	296,171
Pinnacle West Capital		2,395		185,062
PPL		5,203		129,659
Public Service Enterprise Group		3,423		209,077
Sempra		3,916		274,982
Southern		4,088		276,880
Vistra		9,173		288,216
				5,827,975

				339,372,389
Total Common Stock
(Cost $225,500,931)				339,809,539
REGISTERED INVESTMENT COMPANIES — 35.3%

EQUITY FUNDS — 35.3%
AQR Large Cap Defensive Style Fund, Cl R6		371,473		9,717,746
DFA Real Estate Securities Portfolio, Cl I		904,424		33,373,258
DFA US Small Cap Portfolio, Cl I		518,206		21,759,461
DFA US Small Cap Value Portfolio, Cl I		255,003		10,745,839
DFA US Targeted Value Portfolio, Cl I		1,343,266		39,962,166
iShares MSCI USA Min Vol Factor ETF		371,836		27,843,080
iShares MSCI USA Momentum Factor ETF		91,300		13,439,360
Vanguard Small Cap Value ETF		33,831		5,698,832
Vanguard U.S. Quality Factor ETF		54,607		6,393,846
Vanguard U.S. Value Factor ETF		120,502		12,478,934
Vanguard US Momentum Factor ETF		44,900		5,425,168
Total Registered Investment Companies
(Cost $140,169,756)				186,837,690
RIGHTS — 0.0%
		Number of Rights
Abiomed⁽¹⁾		362		5,651

Total Rights (Cost $–)				5,651

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

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2023

SHORT-TERM INVESTMENT — 0.7%
	Shares		Value
DWS Government Money Market Series, Institutional Shares, 5.420% (A)
(Cost $3,591,204)		3,591,204	$	3,591,204

Total Investments — 100.1%
(Cost $369,261,891)			$	530,244,084

A list of open futures contracts held by the Fund at August 31, 2023, is as follows:

Type of Contract	Number of Contracts		Expiration Date		Notional Amount		Value		Unrealized Appreciation
Long Contracts
S&P 500 Index E-MINI		6		Sep-2023	$	1,302,695	$	1,354,800	$	52,105

Percentages are based on Net Assets of $529,617,097.

*	Non-income producing security.
(1)	Level 3 security in accordance with fair value hierarchy.
(A)	The rate reported is the 7-day effective yield as of August 31, 2023.

Cl — Class

ETF — Exchange-Traded Fund

MSCI — Morgan Stanley Capital International

S&P— Standard & Poor's

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

SYMMETRY PANORAMIC US EQUITY FUND
AUGUST 31, 2023

The following is a summary of the level of inputs used as of August 31, 2023, 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	$	339,809,539	$	–	$	–	$	339,809,539
Registered Investment Companies		186,837,690		–		–		186,837,690
Rights		–		–		5,651		5,651
Short-Term Investment		3,591,204		–		–		3,591,204
Total Investments in Securities	$	530,238,433	$	–	$	5,651	$	530,244,084

Other Financial Instruments	Level 1		Level 2		Level 3		Total
Futures Contract^
Unrealized Appreciation	$	52,105	$	–	$	–	$	52,105
Total Other Financial Instruments	$	52,105	$	–	$	–	$	52,105

#	A reconciliation of Level 3 investments is presented when the Fund has a significant amount of Level 3 investments at the end of the period in relation to net assets. Management has concluded that Level 3 investments are not material in relation to net assets.

^	Futures contracts are valued at the unrealized appreciation 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, 2023

SECTOR WEIGHTINGS^† (UNAUDITED)

^† Percentages are based on total investments. Total investments does not include futures.

SCHEDULE OF INVESTMENTS
REGISTERED INVESTMENT COMPANIES — 67.6%
	Shares		Value
EQUITY FUNDS — 67.6%
AQR International Defensive Style Fund, Cl R6		635,176	$	8,638,392
Avantis Emerging Markets Equity ETF		284,000		15,358,720
Avantis International Equity ETF		91,878		5,279,310
Avantis International Small Cap Value ETF		114,505		6,776,406
DFA Emerging Markets Portfolio, Cl I		798,379		21,356,634
DFA Emerging Markets Small Cap Portfolio, Cl I		601,630		13,356,188
DFA Emerging Markets Targeted Value Portfolio, Cl I		233,481		2,537,940
DFA International High Relative Profitability Portfolio, Cl I		1,223,676		14,745,296
DFA International Real Estate Securities, Cl I		2,411,698		8,754,463
DFA International Small Cap Growth Portfolio, Cl I		141,917		2,045,028
DFA International Small Cap Value Portfolio, Cl I		668,422		13,669,228
DFA International Value Portfolio, Cl I		762,365		14,828,000
DFA Large Cap International Portfolio, Cl I		1,105,571		27,794,047
Dimensional Emerging Markets High Profitability		313,410		7,354,354
iShares MSCI EAFE Min Vol Factor ETF		128,472		8,625,610
iShares MSCI Emerging Markets Min Vol Factor ETF		188,371		10,234,196

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

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2023

REGISTERED INVESTMENT COMPANIES — continued
	Shares		Value
EQUITY FUNDS — continued
Schwab International Small-Cap Equity ETF		74,825	$	2,545,546
Total Registered Investment Companies
(Cost $156,835,704)				183,899,358
COMMON STOCK — 29.9%

AUSTRALIA — 0.7%
AngloGold Ashanti ADR		16,978		288,626
BHP Group		562		16,156
BlueScope Steel		2,357		31,866
Brambles		5,144		49,814
Coles Group		26,878		282,798
Fortescue Metals Group		30,993		426,693
Glencore		54,740		291,501
Mineral Resources		767		35,207
Pilbara Minerals		40,302		120,826
REA Group		1,089		116,107
Rio Tinto		542		33,379
Sonic Healthcare		956		19,870
Wesfarmers		1,889		65,745
WiseTech Global		306		13,727
Woodside Energy Group		689		16,448
Woolworths Group		4,135		101,898
				1,910,661

AUSTRIA — 0.0%
Erste Group Bank		2,598		92,681

BELGIUM — 0.1%
KBC Group		2,206		144,736
Solvay		207		23,970
				168,706

BRAZIL — 0.9%
Banco do Brasil		52,000		497,838
BB Seguridade Participacoes		70,400		433,172
Cia de Saneamento Basico do Estado de Sao Paulo ADR		20,217		234,517
CPFL Energia		31,800		220,196
Itau Unibanco Holding ADR		53,504		294,272
PRIO *		28,800		271,422
TIM		31,000		90,645

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

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
BRAZIL — continued
Ultrapar Participacoes		5,900	$	21,660
Vale ADR, Cl B		11,172		147,135
WEG		8,600		62,155
Wheaton Precious Metals		1,709		74,548
				2,347,560

CANADA — 2.0%
Agnico Eagle Mines		400		19,423
Canadian Natural Resources		16,979		1,098,508
Canadian Pacific Kansas City		5,030		399,288
Canadian Tire, Cl A		1,258		149,243
Cenovus Energy		32,912		656,194
CGI, Cl A *		292		30,449
Constellation Software		28		57,514
Dollarama		865		56,085
Empire		1,696		44,182
George Weston		887		98,370
Hydro One		1,413		36,726
Imperial Oil		9,043		513,521
Intact Financial		1,902		268,155
Magna International		471		27,705
National Bank of Canada		6,172		430,149
RB Global		1,530		94,617
Restaurant Brands International		812		56,399
Royal Bank of Canada		6,818		614,286
Sun Life Financial		5,631		274,674
Teck Resources, Cl B		5,682		234,984
Tourmaline Oil		3,025		155,123
WSP Global		1,891		264,869
				5,580,464

CHILE — 0.0%
Antofagasta		7,299		133,673

CHINA — 3.3%
AAC Technologies Holdings		76,500		148,184
Agricultural Bank of China, Cl A		35,800		16,986
Agricultural Bank of China, Cl H		1,071,000		367,090
Airtac International Group		1,046		30,131
Alibaba Group Holding *		18,800		218,196
Anhui Conch Cement, Cl A		4,300		15,162

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

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
CHINA — continued
ANTA Sports Products		13,400	$	151,061
Baidu, Cl A *		16,200		289,320
Bank of Beijing, Cl A		31,100		19,065
Bank of China, Cl A		32,800		16,867
Bank of China, Cl H		1,913,000		648,348
Bank of Communications, Cl A		25,400		19,346
Bank of Ningbo, Cl A		6,868		24,647
Bank of Shanghai, Cl A		15,700		12,813
Baoshan Iron & Steel, Cl A		58,500		48,625
Beijing Enterprises Holdings		6,000		22,479
BOE Technology Group, Cl A		110,400		60,694
BYD, Cl A		1,200		41,087
BYD, Cl H		4,500		141,348
BYD Electronic International		75,000		347,363
C&D International Investment Group		10,000		25,413
China CITIC Bank, Cl H		381,000		169,571
China Coal Energy, Cl H		72,000		49,117
China Communications Services, Cl H		22,000		9,905
China Everbright Bank, Cl A		35,600		14,699
China Galaxy Securities, Cl H		98,000		52,721
China Hongqiao Group		75,500		75,155
China Longyuan Power Group, Cl H		127,000		100,533
China Merchants Bank, Cl A		7,100		30,787
China Merchants Securities, Cl A		9,800		19,122
China Merchants Shekou Industrial Zone Holdings, Cl A		16,600		31,153
China Minsheng Banking, Cl A		28,800		14,926
China Pacific Insurance Group, Cl A		7,600		28,932
China Petroleum & Chemical, Cl A		93,900		78,170
China Petroleum & Chemical, Cl H		676,000		395,262
China Railway Group, Cl H		38,000		20,103
China Resources Beer Holdings		2,000		11,743
China Resources Power Holdings		16,000		31,325
China Shenhua Energy, Cl H		116,000		337,620
China State Construction Engineering, Cl A		42,200		32,582
China State Construction International Holdings		92,000		102,326
China Tourism Group Duty Free, Cl A		1,900		28,436
China Vanke, Cl A		7,800		14,602
China Yangtze Power, Cl A		31,100		94,161
CITIC Securities, Cl A		16,650		50,793
COSCO SHIPPING Holdings, Cl H		118,700		121,725
Dongyue Group		15,000		12,871

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

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
CHINA — continued
ENN Energy Holdings		1,600	$	12,553
Foshan Haitian Flavouring & Food, Cl A		3,912		21,023
Geely Automobile Holdings		60,000		74,483
Great Wall Motor, Cl H		82,500		97,746
Guotai Junan Securities, Cl A		17,100		34,183
Haidilao International Holding		60,000		163,189
Haier Smart Home, Cl A		10,242		33,021
Haier Smart Home, Cl H		31,800		98,494
Haitong Securities, Cl A		21,000		28,338
Huatai Securities, Cl A		13,000		28,365
Huaxia Bank, Cl A		24,900		18,922
Industrial & Commercial Bank of China, Cl A		19,500		12,357
Industrial Bank, Cl A		7,500		16,274
Inner Mongolia Yili Industrial Group, Cl A		7,400		26,413
Jiangsu Hengrui Pharmaceuticals, Cl A		6,404		36,754
Jiangsu Yanghe Brewery Joint-Stock, Cl A		1,300		23,909
Kingsoft		14,800		58,992
Kunlun Energy		54,000		39,532
Kweichow Moutai, Cl A		500		126,883
Lenovo Group		122,000		137,900
Li Ning		55,500		262,310
Luxshare Precision Industry, Cl A		12,169		55,036
Luzhou Laojiao, Cl A		1,900		60,574
Midea Group, Cl A		2,800		21,708
Minth Group		4,000		11,874
NARI Technology, Cl A		12,269		40,045
New China Life Insurance, Cl A		3,200		17,796
New China Life Insurance, Cl H		10,300		25,768
People's Insurance Group of China, Cl H		234,000		79,650
PetroChina, Cl A		60,600		64,483
PetroChina, Cl H		998,000		719,924
PICC Property & Casualty, Cl H		222,000		255,291
Ping An Bank, Cl A		9,600		14,656
Ping An Insurance Group of China, Cl A		4,400		29,491
Poly Developments and Holdings Group, Cl A		15,100		29,027
Postal Savings Bank of China, Cl H		410,000		202,224
SAIC Motor, Cl A		9,100		17,945
Sany Heavy Equipment International Holdings		95,000		148,028
Sany Heavy Industry, Cl A		16,600		35,307
Shanghai Pudong Development Bank, Cl A		12,100		11,594
Shenwan Hongyuan Group, Cl A		35,300		21,113
Sinopharm Group, Cl H		37,600		109,112

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

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
CHINA — continued
Tencent Holdings		12,300	$	509,716
Tingyi Cayman Islands Holding		12,000		17,620
Tongcheng Travel Holdings *		60,400		135,360
Topsports International Holdings		34,000		27,689
TravelSky Technology, Cl H		6,000		10,743
Tsingtao Brewery, Cl H		10,000		83,156
Wuliangye Yibin, Cl A		2,200		47,051
Yankuang Energy Group, Cl H		93,000		146,000
Yuexiu Property		18,000		22,302
ZTE, Cl H		46,000		148,047
				9,062,536

DENMARK — 1.1%
AP Moller - Maersk, Cl B		91		165,198
Danske Bank		7,431		166,799
DSV Panalpina		1,311		248,958
Novo Nordisk, Cl B		10,671		1,968,306
Pandora		2,566		265,731
Vestas Wind Systems		2,465		56,954
				2,871,946

FINLAND — 0.2%
Elisa		1,640		80,510
Neste		972		35,559
Nordea Bank Abp		38,396		420,638
UPM-Kymmene		1,778		60,848
Wartsila Abp		2,228		28,275
				625,830

FRANCE — 1.4%
Air Liquide		1,166		210,669
Capgemini		162		30,233
Cie de Saint-Gobain		1,838		119,566
Dassault Aviation		360		70,690
Dassault Systemes		1,885		74,703
EssilorLuxottica		971		182,506
Hermes International SCA		284		584,099
L'Oreal		162		71,156
LVMH Moet Hennessy Louis Vuitton		602		509,087
Renault		9,718		392,114

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

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
FRANCE — continued
Safran		678	$	108,660
Sartorius Stedim Biotech		542		153,717
Societe Generale		20,818		589,997
Thales		1,345		196,141
TotalEnergies		5,786		362,950
Valeo		4,102		79,736
				3,736,024

GERMANY — 1.7%
Bayerische Motoren Werke		3,490		367,076
Brenntag		1,896		153,357
Commerzbank		24,137		265,205
Continental		2,965		219,939
Deutsche Boerse		408		72,430
Deutsche Telekom		30,186		646,088
GEA Group		2,509		98,938
Hannover Rueck		1,228		261,169
Heidelberg Materials		1,143		91,905
Infineon Technologies		11,120		397,381
Mercedes-Benz Group		7,352		537,982
Muenchener Rueckversicherungs-Gesellschaft in Muenchen		2,081		807,760
SAP		365		50,919
Siemens		4,536		681,448
Siemens Energy		2,099		29,873
				4,681,470

HONG KONG — 0.0%
Techtronic Industries		6,000		59,176
Wharf Real Estate Investment		5,000		20,838
				80,014

INDONESIA — 0.8%
Adaro Energy Indonesia		1,498,700		262,552
Astra International		146,300		61,900
Bank Central Asia		706,900		425,558
Bank Mandiri Persero		1,171,000		463,058
Bank Negara Indonesia Persero		199,200		119,959
Bank Rakyat Indonesia Persero		1,213,100		441,928
Indofood Sukses Makmur		23,400		10,903

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

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
INDONESIA — continued
Sumber Alfaria Trijaya		945,800	$	180,240
United Tractors		114,800		195,885
Vale Indonesia		66,300		25,660
				2,187,643

ITALY — 0.7%
Ferrari		455		144,572
Intesa Sanpaolo		375,784		1,003,495
Moncler		1,895		128,395
Prysmian		4,988		203,793
UniCredit		14,035		341,937
				1,822,192

JAPAN — 6.0%
Advantest		3,200		400,546
Ajinomoto		10,100		427,865
Bandai Namco Holdings		8,100		187,898
Bridgestone		2,700		104,829
Chiba Bank		60,100		429,138
Chugai Pharmaceutical		3,300		100,590
Daiichi Sankyo		5,700		167,886
Daikin Industries		1,200		207,430
Daito Trust Construction		500		55,142
Denso		1,500		102,379
Disco		1,100		217,409
Fast Retailing		300		68,823
Fuji Electric		600		28,272
FUJIFILM Holdings		3,700		218,657
Fujitsu		1,800		224,986
Hamamatsu Photonics		700		32,388
Hitachi		3,100		206,033
Hitachi Construction Machinery		2,600		80,845
Hoya		3,800		421,614
Iida Group Holdings		16,400		268,581
Isuzu Motors		2,600		33,284
ITOCHU		12,900		484,129
Japan Post Bank		51,300		411,634
Japan Tobacco		28,300		619,665
JFE Holdings		10,900		172,199
KDDI		700		20,809
Kurita Water Industries		1,600		62,328

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

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
JAPAN — continued
Marubeni		15,500	$	253,248
Mazda Motor		22,800		237,551
Mitsubishi HC Capital		106,300		690,616
Mitsubishi Heavy Industries		500		28,316
Mitsubishi UFJ Financial Group		19,500		155,565
Mitsui		9,700		361,280
Mizuho Financial Group		70,200		1,156,828
Nintendo		3,000		128,631
Nippon Sanso Holdings		2,500		60,280
Nippon Steel		21,900		517,899
Nippon Telegraph & Telephone		177,500		204,948
Nippon Yusen		25,800		686,393
Nissin Foods Holdings		2,400		209,598
Nitto Denko		800		54,578
Nomura Real Estate Holdings		12,200		306,994
Nomura Research Institute		3,800		109,209
Obayashi		17,900		162,116
Oriental Land		1,000		36,021
ORIX		15,600		290,857
Otsuka		1,400		62,395
Pan Pacific International Holdings		7,800		155,417
Panasonic Holdings		7,900		90,930
Renesas Electronics *		9,400		156,601
Resona Holdings		30,600		162,104
Rohm		300		25,022
Sekisui Chemical		14,500		222,392
Sekisui House		3,300		67,252
Shimadzu		600		17,632
Shin-Etsu Chemical		9,500		302,801
Sompo Holdings		1,100		47,869
Sony		4,500		374,366
Sumitomo		3,300		67,869
Sumitomo Electric Industries		20,000		244,846
Sumitomo Mitsui Financial Group		5,000		228,582
Sumitomo Mitsui Trust Holdings		14,000		524,424
Taisei		7,100		238,958
Takeda Pharmaceutical		4,200		129,801
TDK		3,300		120,111
Tokio Marine Holdings		16,800		370,751
Tokyo Electron		3,900		579,250
Tokyo Gas		13,500		312,398
Toyota Motor		9,500		163,677

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

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
JAPAN — continued
Toyota Tsusho		1,700	$	101,199
Unicharm		600		23,936
				16,196,870

MALAYSIA — 0.0%
Gamuda		24,600		23,882
Telekom Malaysia		63,100		69,404
				93,286

MEXICO — 1.2%
America Movil ADR		8,887		170,364
Arca Continental		40,700		397,440
Cemex ADR *		39,419		314,169
Coca-Cola Femsa ADR		1,429		121,094
Fibra Uno Administracion ^‡		84,500		122,707
Grupo Aeroportuario del Pacifico, Cl B		4,600		84,114
Grupo Aeroportuario del Sureste ADR		1,606		437,282
Grupo Bimbo, Ser A		61,400		302,094
Grupo Carso		24,400		192,876
Grupo Financiero Banorte, Cl O		12,100		102,709
Grupo Financiero Inbursa, Cl O *		94,500		211,718
Grupo Mexico		24,500		117,108
Promotora y Operadora de Infraestructura		11,580		110,587
Southern Copper		4,391		354,178
Wal-Mart de Mexico		41,600		164,004
				3,202,444

NETHERLANDS — 1.1%
ASML Holding		1,776		1,167,772
Koninklijke Ahold Delhaize		24,891		814,186
Shell		22,895		700,021
Wolters Kluwer		1,641		197,725
				2,879,704

NORWAY — 0.0%
Norsk Hydro		21,362		118,194

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

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
PHILIPPINES — 0.0%
Metropolitan Bank & Trust		17,500	$	17,055

POLAND — 0.1%
Bank Polska Kasa Opieki		1,915		49,993
Dino Polska *		283		25,952
mBank *		248		25,757
Powszechny Zaklad Ubezpieczen		6,276		62,853
Santander Bank Polska *		179		16,104
				180,659

PORTUGAL — 0.0%
Jeronimo Martins SGPS		830		21,158

RUSSIA — 0.0%
Evraz *⁽¹⁾		29,556		—

SINGAPORE — 0.1%
STMicroelectronics		2,589		122,187
United Overseas Bank		8,400		176,462
				298,649

SOUTH AFRICA — 0.2%
Anglo American		8,070		214,595
Anglo American Platinum		2,412		84,117
Aspen Pharmacare Holdings		2,683		24,479
FirstRand		6,672		25,923
Gold Fields ADR		6,476		81,792
Shoprite Holdings		2,080		29,029
Sibanye Stillwater		68,981		104,081
				564,016

SOUTH KOREA — 1.6%
CJ		607		32,251
DB Insurance		1,519		93,809
Doosan Bobcat		4,115		167,215
Hana Financial Group		2,351		70,254
Hankook Tire & Technology		3,690		108,011
HD Hyundai		3,485		155,679
HYBE *		52		9,929

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

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
SOUTH KOREA — continued
Hyundai Mobis		310	$	54,122
Kakao		620		22,501
KB Financial Group		4,476		182,335
Kia		5,045		305,798
Korea Zinc		321		127,807
KT&G		4,058		266,616
Kumho Petrochemical		747		70,432
LG Electronics		653		48,597
LG Innotek		754		153,722
Meritz Financial Group		2,356		97,362
Orion		893		82,243
POSCO Holdings		567		247,917
Posco International		2,920		174,845
Samsung Electronics		35,571		1,799,048
Samsung Engineering *		2,635		67,690
Samsung Securities		1,142		32,232
				4,370,415

SPAIN — 0.6%
Banco Bilbao Vizcaya Argentaria		35,047		276,517
Banco Santander		122,982		480,075
CaixaBank		110,550		447,755
Iberdrola		24,820		294,433
Repsol		13,592		210,080
				1,708,860

SWEDEN — 0.5%
Alfa Laval		4,917		172,636
Atlas Copco, Cl A		32,712		432,493
Epiroc, Cl A		4,036		77,432
H & M Hennes & Mauritz, Cl B		5,323		81,271
Investor, Cl B		11,172		215,037
Nibe Industrier, Cl B		25,240		188,923
Skandinaviska Enskilda Banken, Cl A		15,724		182,298
				1,350,090

SWITZERLAND — 0.6%
Chocoladefabriken Lindt & Spruengli		7		83,669
Dufry *		792		35,190
Kuehne + Nagel International		1,107		332,593

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

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
SWITZERLAND — continued
Lonza Group		161	$	88,806
Partners Group Holding		42		45,272
Sika		797		225,218
Sonova Holding		199		52,582
Straumann Holding		190		28,726
Swatch Group		436		122,403
Swiss Life Holding		127		79,536
Zurich Insurance Group		1,136		532,663
				1,626,658

TAIWAN — 2.0%
Accton Technology		15,000		223,715
Acer		63,000		72,235
Advantech		5,387		57,973
ASE Technology Holding		90,000		333,114
Asia Cement		58,000		72,653
Catcher Technology		22,000		124,475
Chailease Holding		27,026		150,654
Compal Electronics		82,000		81,873
CTBC Financial Holding		75,000		56,057
Delta Electronics		8,000		86,455
E.Sun Financial Holding		271,405		208,143
Evergreen Marine Taiwan		14,600		48,757
Fubon Financial Holding		60,041		119,732
Global Unichip		1,000		45,513
Hon Hai Precision Industry		81,000		270,438
Inventec		78,000		137,409
Lite-On Technology		70,000		299,254
MediaTek		8,000		176,428
Mega Financial Holding		55,793		62,790
Micro-Star International		29,000		145,016
Novatek Microelectronics		25,000		312,523
Quanta Computer		28,000		221,949
Realtek Semiconductor		21,000		274,435
SinoPac Financial Holdings		54,974		29,507
Synnex Technology International		54,000		103,500
Taishin Financial Holding		208,205		116,241
Taiwan Cooperative Financial Holding		154,586		127,393
Taiwan Semiconductor Manufacturing ADR		3,958		370,350
United Microelectronics		310,000		442,602
Vanguard International Semiconductor		73,000		156,083
Wistron		48,000		175,481

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

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
TAIWAN — continued
Wiwynn *		2,000	$	97,469
Yuanta Financial Holding		185,923		142,263
Zhen Ding Technology Holding		36,000		108,985
				5,451,465

THAILAND — 0.4%
Advanced Info Service NVDR		20,700		127,616
Bumrungrad Hospital NVDR		21,000		155,243
Central Retail NVDR		25,000		29,410
Delta Electronics Thailand NVDR		55,000		170,216
Krung Thai Bank NVDR		417,800		230,156
PTT Exploration & Production NVDR		79,400		359,462
				1,072,103

TURKEY — 0.9%
Akbank		192,509		207,091
Ford Otomotiv Sanayi		7,407		238,987
Haci Omer Sabanci Holding		171,711		383,929
KOC Holding		43,225		229,359
Pegasus Hava Tasimaciligi *		6,787		222,029
Tofas Turk Otomobil Fabrikasi		7,502		75,709
Turk Hava Yollari AO *		27,372		250,749
Turkcell Iletisim Hizmetleri		86,166		179,693
Turkiye Is Bankasi, Cl C		223,514		175,961
Turkiye Petrol Rafinerileri		30,534		161,147
Turkiye Sise ve Cam Fabrikalari		6,316		12,100
Yapi ve Kredi Bankasi		314,311		186,677
				2,323,431

UNITED KINGDOM — 1.1%
Ashtead Group		6,149		428,944
AstraZeneca		170		22,835
Auto Trader Group		3,155		24,194
BAE Systems		17,152		218,307
BP		112,727		696,573
Burberry Group		5,781		159,612
HSBC Holdings		105,981		781,845
JD Sports Fashion		74,755		137,213
Legal & General Group		75,485		208,558
Next		430		38,003

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

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED KINGDOM — continued
Rolls-Royce Holdings *		35,375	$	99,238
Spirax-Sarco Engineering		369		47,286
SSE		1,149		23,611
Standard Chartered		10,917		98,228
United Utilities Group		2,190		26,225
				3,010,672

UNITED STATES — 0.5%
CONSUMER DISCRETIONARY — 0.1%
Stellantis		11,999		222,741

CONSUMER STAPLES — 0.0%
JBS		15,200		56,846

ENERGY — 0.1%
Tenaris		11,856		189,339

HEALTH CARE — 0.0%
CSL		288		50,860

INDUSTRIALS — 0.3%
Experian		5,803		202,662
Schneider Electric		4,005		686,491
				889,153

MATERIALS — 0.0%
Holcim Ltd.		261		17,260

				1,426,199
ZAMBIA — 0.1%
First Quantum Minerals		7,784		209,117

Total Common Stock
(Cost $59,451,989)				81,422,445

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

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2023

PREFERRED STOCK — 0.2%
	Shares		Value
BRAZIL — 0.2%
Cia Energetica de Minas Gerais⁽²⁾		117,149	$	291,687
Petroleo Brasileiro⁽²⁾		52,200		337,420

Total Preferred Stock
(Cost $481,802)				629,107
RIGHTS — 0.0%
		Number of Rights
Constellation Software*		28		16

(Cost $–)				16
WARRANTS — 0.0%
		Number of Warrants
Constellation Software, Expires 08/22/28*⁽¹⁾		28		—

(Cost $–)				—
SHORT-TERM INVESTMENT — 2.2%
	Shares
DWS Government Money Market Series, Institutional Shares, 5.420% (A)
(Cost $5,870,744)		5,870,744		5,870,744

Total Investments — 99.9%
(Cost $222,640,239)			$	271,821,670

A list of open futures contracts held by the Fund at August 31, 2023, is as follows:

Type of Contract	Number of Contracts		Expiration Date		Notional Amount		Value		Unrealized (Depreciation)
Long Contracts
IFSC Nifty50 Index		139		Sep-2023	$	5,412,394	$	5,406,822	$	(5,572	)

Percentages are based on Net Assets of $272,166,828.

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

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2023

*	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, 2023.

ADR — American Depositary Receipt

Cl — Class

EAFE — Europe, Australasia and Far East

ETF — Exchange-Traded Fund

IFSC— International Financial Service Centre

Ltd. — Limited

MSCI — Morgan Stanley Capital International

NVDR — Non-Voting Depositary Receipt

Ser — Series

Vol — Volatility

The following is a summary of the level of inputs used as of August 31, 2023, 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	$	183,899,358	$	–	$	–		$	183,899,358
Common Stock
Australia		288,626		1,622,035		–			1,910,661
Austria		–		92,681		–			92,681
Belgium		–		168,706		–			168,706
Brazil		2,347,560		–		–			2,347,560
Canada		5,580,464		–		–			5,580,464
Chile		–		133,673		–			133,673
China		–		9,062,536		–			9,062,536
Denmark		–		2,871,946		–			2,871,946
Finland		–		625,830		–			625,830
France		–		3,736,024		–			3,736,024
Germany		–		4,681,470		–			4,681,470
Hong Kong		–		80,014		–			80,014
Indonesia		–		2,187,643		–			2,187,643
Italy		144,572		1,677,620		–			1,822,192
Japan		–		16,196,870		–			16,196,870
Malaysia		–		93,286		–			93,286
Mexico		3,202,444		–		–			3,202,444
Netherlands		–		2,879,704		–			2,879,704
Norway		–		118,194		–			118,194
Philippines		–		17,055		–			17,055
Poland		–		180,659		–			180,659
Portugal		–		21,158		–			21,158
Russia		–		–		–	⁽¹⁾		–	⁽¹⁾
Singapore		–		298,649		–			298,649
South Africa		81,792		482,224		–			564,016
South Korea		–		4,370,415		–			4,370,415
Spain		–		1,708,860		–			1,708,860
Sweden		–		1,350,090		–			1,350,090

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

SYMMETRY PANORAMIC INTERNATIONAL EQUITY FUND
AUGUST 31, 2023

Investments in Securities	Level 1			Level 2		Level 3^#			Total
Switzerland	$	–		$	1,626,658	$	–		$	1,626,658
Taiwan		370,350			5,081,115		–			5,451,465
Thailand		–			1,072,103		–			1,072,103
Turkey		–			2,323,431		–			2,323,431
United Kingdom		–			3,010,672		–			3,010,672
United States		56,846			1,369,353		–			1,426,199
Zambia		209,117			–		–			209,117
Total Common Stock		12,281,771			69,140,674		–	⁽¹⁾		81,422,445
Preferred Stock
Brazil		629,107			–		–			629,107
Rights		16			–		–			16
Warrants		–			–		–	⁽¹⁾		–	⁽¹⁾
Short-Term Investment		5,870,744			–		–			5,870,744
Total Investments in Securities	$	202,680,996		$	69,140,674	$	–	⁽¹⁾	$	271,821,670

Other Financial Instruments	Level 1			Level 2		Level 3			Total
Futures Contract^
Unrealized Depreciation	$	(5,572	)	$	–	$	–		$	(5,572	)
Total Other Financial Instruments	$	(5,572	)	$	–	$	–		$	(5,572	)

# A reconciliation of Level 3 investments is presented when the Fund has a significant amount of Level 3 investments at the end of the period in relation to net assets. Management has concluded that Level 3 investments are not material in relation to net assets.

(1) Includes securities valued at zero.

^ Futures 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, 2023

SECTOR WEIGHTINGS^† (UNAUDITED)

^†	Percentages are based on total investments. Total investments does not include futures.

SCHEDULE OF INVESTMENTS
COMMON STOCK — 49.9%
	Shares		Value
AUSTRALIA — 0.3%
AngloGold Ashanti ADR		12,583	$	213,911
BHP Group		434		12,477
BlueScope Steel		1,841		24,890
Brambles		6,239		60,418
Coles Group		3,910		41,139
Fortescue Metals Group		24,313		334,726
Glencore		52,559		279,887
Mineral Resources		370		16,984
Pilbara Minerals		30,206		90,558
REA Group		734		78,258
Rio Tinto		279		17,182
Sonic Healthcare		729		15,152
Wesfarmers		1,077		37,484
WiseTech Global		720		32,298
Woodside Energy Group		3,954		94,391
Woolworths Group		2,634		64,909
				1,414,664

AUSTRIA — 0.0%
Erste Group Bank		919		32,785
Verbund		222		18,168
				50,953

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
BELGIUM — 0.0%
KBC Group		1,189	$	78,011

BRAZIL — 0.4%
Banco do Brasil		40,700		389,654
BB Seguridade Participacoes		52,000		319,956
Cia de Saneamento Basico do Estado de Sao Paulo SABESP *		14,200		166,086
CPFL Energia		28,400		196,653
Itau Unibanco Holding ADR *		24,573		135,152
PRIO *		21,300		200,739
Raia Drogasil		1,768		9,929
TIM		31,500		92,107
Ultrapar Participacoes		5,700		20,926
Vale ADR, Cl B		11,734		154,537
WEG		3,800		27,464
Wheaton Precious Metals		1,224		53,391
				1,766,594

CANADA — 0.8%
Canadian Natural Resources		11,419		738,787
Canadian Pacific Kansas City		4,030		319,907
Canadian Tire, Cl A		931		110,450
Cenovus Energy		25,153		501,496
CGI, Cl A *		253		26,382
Constellation Software		22		45,190
Dollarama		718		46,554
Empire		1,438		37,461
George Weston		512		56,782
Hydro One		1,426		37,064
Imperial Oil		6,944		394,326
Intact Financial		1,593		224,590
Magna International		271		15,941
National Bank of Canada		4,302		299,822
RB Global		1,078		66,665
Restaurant Brands International		442		30,700
Royal Bank of Canada		5,306		478,058
Sun Life Financial		4,065		198,286
Teck Resources, Cl B		5,069		209,633
Tourmaline Oil		615		31,537

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
CANADA — continued
WSP Global		1,366	$	191,333
				4,060,964

CHILE — 0.0%
Antofagasta		5,161		94,518

CHINA — 1.4%
3SBio		8,000		6,690
AAC Technologies Holdings		23,500		45,521
Agricultural Bank of China, Cl A		44,800		21,257
Agricultural Bank of China, Cl H		831,000		284,829
Airtac International Group		1,046		30,131
Alibaba Group Holding *		12,500		145,077
Anhui Conch Cement, Cl A		3,288		11,594
ANTA Sports Products		6,400		72,149
Baidu, Cl A *		11,500		205,381
Bank of Beijing, Cl A		26,800		16,429
Bank of China, Cl A		31,200		16,044
Bank of China, Cl H		1,536,000		520,577
Bank of Communications, Cl A		23,300		17,747
Bank of Ningbo, Cl A		4,440		15,934
Bank of Shanghai, Cl A		12,297		10,036
Baoshan Iron & Steel, Cl A		43,800		36,406
Beijing Enterprises Holdings		5,000		18,732
BOE Technology Group, Cl A		72,900		40,078
BYD, Cl A		900		30,815
BYD, Cl H		3,500		109,937
BYD Electronic International		58,500		270,943
C&D International Investment Group		9,000		22,872
China CITIC Bank, Cl H		275,000		122,394
China Coal Energy, Cl H		84,000		57,303
China Communications Services, Cl H		22,000		9,905
China Everbright Bank, Cl A		30,400		12,552
China Galaxy Securities, Cl H		70,500		37,926
China Hongqiao Group		48,500		48,278
China Longyuan Power Group, Cl H		87,000		68,869
China Merchants Bank, Cl A		5,100		22,115
China Merchants Securities, Cl A		5,500		10,732
China Merchants Shekou Industrial Zone Holdings, Cl A		15,700		29,464
China Minsheng Banking, Cl A		24,100		12,490

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
CHINA — continued
China Pacific Insurance Group, Cl A		3,700	$	14,085
China Petroleum & Chemical, Cl A		89,300		74,340
China Petroleum & Chemical, Cl H		472,000		275,982
China Railway Group, Cl H		26,000		13,755
China Resources Beer Holdings		2,000		11,743
China Resources Land		2,000		8,453
China Resources Power Holdings		12,000		23,494
China Shenhua Energy, Cl H		100,500		292,507
China State Construction Engineering, Cl A		21,200		16,368
China State Construction International Holdings		64,000		71,184
China Tourism Group Duty Free, Cl A		1,400		20,953
China Vanke, Cl A		6,100		11,419
China Yangtze Power, Cl A		30,400		92,042
CITIC Securities, Cl A		9,535		29,087
COSCO SHIPPING Holdings, Cl H		96,250		98,703
Dongyue Group		16,000		13,730
ENN Energy Holdings		800		6,276
Foshan Haitian Flavouring & Food, Cl A		3,089		16,599
Geely Automobile Holdings		60,000		74,483
Great Wall Motor, Cl H		60,500		71,680
Guotai Junan Securities, Cl A		7,677		15,346
Haidilao International Holding		49,000		133,271
Haier Smart Home, Cl A		7,541		24,313
Haier Smart Home, Cl H		30,200		93,538
Haitong Securities, Cl A		11,400		15,383
Huatai Securities, Cl A		8,200		17,892
Huaxia Bank, Cl A		20,800		15,807
Industrial & Commercial Bank of China, Cl A		16,300		10,329
Industrial Bank, Cl A		5,400		11,717
Inner Mongolia Yili Industrial Group, Cl A		4,100		14,634
Jiangsu Hengrui Pharmaceuticals, Cl A		4,320		24,793
Jiangsu Yanghe Brewery Joint-Stock, Cl A		900		16,552
Kingsoft		9,800		39,062
Kweichow Moutai, Cl A		400		101,507
Lenovo Group		102,000		115,293
Li Ning		41,500		196,142
Luxshare Precision Industry, Cl A		9,015		40,772
Luzhou Laojiao, Cl A		1,700		54,197
Midea Group, Cl A		2,100		16,281
Minth Group		4,000		11,874
NARI Technology, Cl A		10,483		34,217
New China Life Insurance, Cl A		2,100		11,679

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
CHINA — continued
New China Life Insurance, Cl H		20,900	$	52,286
NXP Semiconductors		1,605		330,181
People's Insurance Group of China, Cl H		192,000		65,354
PetroChina, Cl A		39,500		42,031
PetroChina, Cl H		748,000		539,582
PICC Property & Casualty, Cl H		168,000		193,193
Ping An Bank, Cl A		7,000		10,687
Ping An Insurance Group of China, Cl A		3,200		21,448
Ping An Insurance Group of China, Cl H		11,500		68,852
Poly Developments and Holdings Group, Cl A		9,900		19,031
SAIC Motor, Cl A		6,000		11,832
Sany Heavy Equipment International Holdings		69,000		107,515
Sany Heavy Industry, Cl A		12,400		26,374
Shanghai Pudong Development Bank, Cl A		10,000		9,582
Shenwan Hongyuan Group, Cl A		19,800		11,843
Sinopharm Group, Cl H		24,000		69,646
Tencent Holdings		8,300		343,955
Tingyi Cayman Islands Holding		8,000		11,746
Tongcheng Travel Holdings *		54,000		121,017
Topsports International Holdings		26,000		21,174
Tsingtao Brewery, Cl H		8,000		66,525
Uni-President China Holdings		12,000		8,874
Wuliangye Yibin, Cl A		800		17,109
Yankuang Energy Group, Cl H		81,000		127,161
Yonghui Superstores, Cl A *		19,700		8,703
Yuexiu Property		18,000		22,302
ZTE, Cl H		35,400		113,932
				7,074,624

DENMARK — 0.4%
AP Moller - Maersk, Cl B		56		101,660
Danske Bank		7,177		161,097
DSV Panalpina		936		177,746
Novo Nordisk, Cl B		5,588		1,030,728
Pandora		2,068		214,159
Vestas Wind Systems *		1,900		43,900
				1,729,290

FINLAND — 0.1%
Elisa		901		44,231
Neste		639		23,377

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
FINLAND — continued
Nordea Bank Abp		30,772	$	337,115
UPM-Kymmene		1,783		61,019
Wartsila Abp		3,842		48,758
				514,500

FRANCE — 0.5%
Air Liquide		812		146,709
Cie de Saint-Gobain		2,632		171,218
Dassault Aviation		220		43,199
Dassault Systemes		1,220		48,349
EssilorLuxottica		589		110,707
Hermes International SCA		179		368,147
L'Oreal		155		68,081
LVMH Moet Hennessy Louis Vuitton		325		274,839
Publicis Groupe		156		12,172
Renault		7,915		319,365
Safran		787		126,129
Sartorius Stedim Biotech		458		129,894
Societe Generale		9,614		272,680
Thales		937		136,643
TotalEnergies		4,339		272,181
Valeo		3,746		72,816
				2,573,129

GERMANY — 0.7%
Bayerische Motoren Werke		1,645		173,020
Brenntag		1,520		122,944
Commerzbank		17,132		188,238
Continental		1,322		98,064
Deutsche Boerse		247		43,848
Deutsche Telekom		18,443		394,746
GEA Group		1,917		75,594
Hannover Rueck		1,226		260,744
Heidelberg Materials		792		63,682
Infineon Technologies		11,012		393,522
Mercedes-Benz Group		4,837		353,947
Muenchener Rueckversicherungs-Gesellschaft in Muenchen		1,286		499,173
RWE		433		17,829
SAP		289		40,317
Siemens		3,318		498,467

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
GERMANY — continued
Siemens Energy *		582	$	8,283
				3,232,418

HONG KONG — 0.0%
Techtronic Industries		3,500		34,519

INDONESIA — 0.3%
Adaro Energy Indonesia		1,134,000		198,662
Bank Central Asia		562,500		338,628
Bank Mandiri Persero		930,600		367,995
Bank Negara Indonesia Persero		174,100		104,844
Bank Rakyat Indonesia Persero		618,800		225,426
Indofood Sukses Makmur		38,300		17,845
Sumber Alfaria Trijaya		798,900		152,245
United Tractors		74,800		127,633
Vale Indonesia		97,100		37,580
				1,570,858

ITALY — 0.3%
Ferrari		239		75,940
Intesa Sanpaolo		227,211		606,745
Moncler		1,411		95,602
Prysmian		4,171		170,412
UniCredit		11,655		283,953
				1,232,652

JAPAN — 2.4%
Advantest		2,500		312,927
Ajinomoto		7,700		326,194
Bandai Namco Holdings		5,700		132,225
Bridgestone		2,900		112,595
Chiba Bank		52,300		373,443
Chugai Pharmaceutical		2,100		64,012
Daiichi Sankyo		4,500		132,541
Daikin Industries		900		155,573
Daito Trust Construction		200		22,057
Denso		1,300		88,728
Disco		600		118,587
Fast Retailing		100		22,941
Fuji Electric		500		23,560

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
JAPAN — continued
FUJIFILM Holdings		2,600	$	153,651
Fujitsu		1,400		174,989
Hamamatsu Photonics		500		23,134
Hitachi		1,100		73,108
Hitachi Construction Machinery		3,900		121,267
Hoya		2,900		321,758
Iida Group Holdings		9,600		157,218
Inpex		1,600		22,406
Isuzu Motors		2,200		28,163
ITOCHU		9,400		352,776
Japan Post Bank		35,700		286,459
Japan Post Holdings		13,200		101,200
Japan Tobacco		22,500		492,666
JFE Holdings		9,400		148,502
KDDI		1,000		29,727
Kurita Water Industries		1,400		54,537
Marubeni		13,200		215,670
Mazda Motor		25,500		265,682
Mitsubishi		3,000		147,975
Mitsubishi HC Capital		82,700		537,290
Mitsubishi UFJ Financial Group		15,200		121,261
Mitsui		10,200		379,902
Mitsui OSK Lines		5,000		138,455
Mizuho Financial Group		54,800		903,051
Nintendo		3,000		128,631
NIPPON EXPRESS HOLDINGS INC		300		15,579
Nippon Sanso Holdings		1,800		43,402
Nippon Steel		14,000		331,077
Nippon Telegraph & Telephone		150,000		173,195
Nippon Yusen		21,000		558,692
Nissin Foods Holdings		1,800		157,198
Nitto Denko		600		40,934
Nomura Real Estate Holdings		2,400		60,392
Nomura Research Institute		2,400		68,974
Obayashi		8,900		80,605
Obic		100		17,387
Oriental Land		1,000		36,021
ORIX		7,500		139,835
Pan Pacific International Holdings		6,300		125,529
Panasonic Holdings		8,000		92,080
Renesas Electronics *		6,900		114,952
Resona Holdings		32,300		171,110

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
JAPAN — continued
Rohm		300	$	25,022
Sekisui Chemical		5,500		84,356
Sekisui House		7,800		158,959
Seven & i Holdings		1,900		77,959
Shimadzu		700		20,571
Shin-Etsu Chemical		9,000		286,864
Sompo Holdings		1,000		43,518
Sony		3,700		307,812
Sumitomo		700		14,397
Sumitomo Electric Industries		13,400		164,047
Sumitomo Mitsui Financial Group		2,900		132,578
Sumitomo Mitsui Trust Holdings		10,600		397,064
Taisei		4,300		144,721
Takeda Pharmaceutical		1,900		58,720
TDK		1,800		65,515
Tokio Marine Holdings		1,400		30,896
Tokyo Electron		2,700		401,019
Tokyo Gas		3,700		85,620
Toyota Tsusho		2,000		119,057
Yamaha Motor		500		12,938
				12,123,456

MALAYSIA — 0.0%
Gamuda		35,000		33,979
RHB Bank		7,400		8,945
Telekom Malaysia		43,500		47,846
				90,770

MEXICO — 0.5%
America Movil ADR		4,455		85,402
Arca Continental		27,900		272,447
Cemex ADR *		30,442		242,623
Coca-Cola Femsa ADR		4,480		379,635
Fibra Uno Administracion ^‡		43,500		63,169
Grupo Aeroportuario del Pacifico, Cl B		2,700		49,371
Grupo Aeroportuario del Sureste ADR		1,052		286,439
Grupo Bimbo, Ser A		50,900		250,433
Grupo Carso		17,100		135,171
Grupo Financiero Banorte, Cl O		6,600		56,023
Grupo Financiero Inbursa, Cl O *		67,800		151,899
Grupo Mexico		14,300		68,353

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
MEXICO — continued
Promotora y Operadora de Infraestructura		10,290	$	98,268
Southern Copper		4,144		334,255
Wal-Mart de Mexico		43,700		172,283
				2,645,771

NETHERLANDS — 0.4%
ABN AMRO Bank		15,804		232,476
ASML Holding		1,245		818,624
Koninklijke Ahold Delhaize		19,787		647,233
Shell		10,219		312,449
Wolters Kluwer		1,037		124,949
				2,135,731

NORWAY — 0.0%
Norsk Hydro		18,938		104,782

PHILIPPINES — 0.0%
Metropolitan Bank & Trust		35,300		34,401

POLAND — 0.0%
Bank Polska Kasa Opieki		1,282		33,468
Dino Polska *		183		16,782
mBank *		125		12,982
Powszechny Zaklad Ubezpieczen		4,409		44,155
Santander Bank Polska *		90		8,097
				115,484

PORTUGAL — 0.0%
Jeronimo Martins SGPS		565		14,403

RUSSIA — 0.0%
Evraz *⁽¹⁾		16,851		—

SINGAPORE — 0.0%
STMicroelectronics		553		26,099
United Overseas Bank		5,600		117,641
				143,740

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
SOUTH AFRICA — 0.1%
Anglo American		4,644	$	123,492
Anglo American Platinum		1,835		63,994
Aspen Pharmacare Holdings		1,947		17,764
FirstRand		5,526		21,471
Gold Fields ADR		4,748		59,967
MTN Group		1,466		9,323
Shoprite Holdings		2,772		38,687
Sibanye Stillwater		53,377		80,537
				415,235

SOUTH KOREA — 0.7%
CJ		663		35,227
DB Insurance		1,142		70,527
Doosan Bobcat		3,191		129,668
Hana Financial Group		3,467		103,603
Hankook Tire & Technology		3,250		95,131
HD Hyundai		1,238		55,303
HYBE *		70		13,366
Hyundai Mobis		144		25,140
Kakao		370		13,428
KB Financial Group		2,990		121,801
Kia		3,952		239,547
Korea Zinc		257		102,325
KT&G		1,403		92,179
Kumho Petrochemical		346		32,623
LG Electronics		576		42,867
LG Innotek		574		117,024
Meritz Financial Group		1,869		77,237
Orion		672		61,889
POSCO Holdings		421		184,080
Posco International		2,234		133,769
Samsung Electronics		26,882		1,359,591
Samsung Engineering *		2,188		56,207
Samsung Securities		930		26,248
				3,188,780

SPAIN — 0.2%
Banco Bilbao Vizcaya Argentaria		17,512		138,168
Banco Santander		70,225		274,132
CaixaBank		86,144		348,904
Iberdrola		18,507		219,544

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
SPAIN — continued
Repsol		12,355	$	190,960
				1,171,708

SWEDEN — 0.2%
Alfa Laval		4,339		152,343
Atlas Copco, Cl A		25,804		341,160
Epiroc, Cl A		3,719		71,351
H & M Hennes & Mauritz, Cl B		2,599		39,682
Investor, Cl B		10,944		210,648
Nibe Industrier, Cl B		21,544		161,258
Skandinaviska Enskilda Banken, Cl A		15,002		173,927
				1,150,369

SWITZERLAND — 0.5%
Chocoladefabriken Lindt & Spruengli		6		71,717
Dufry *		328		14,574
Kuehne + Nagel International		809		243,060
Novartis		11,626		1,170,061
Partners Group Holding		76		81,921
Sika		379		107,099
Sonova Holding		131		34,614
Straumann Holding		350		52,916
Swatch Group		214		60,078
Swiss Life Holding		60		37,576
UBS Group		1,015		26,884
Zurich Insurance Group		847		397,153
				2,297,653

TAIWAN — 0.8%
Accton Technology		11,000		164,058
Acer		57,000		65,355
Advantech		5,058		54,434
ASE Technology Holding		74,000		273,894
Asia Cement		40,000		50,106
Asustek Computer		2,000		25,198
Catcher Technology		22,000		124,475
Chailease Holding		20,898		116,493
Compal Electronics		100,000		99,845
Delta Electronics		9,000		97,262
E.Sun Financial Holding		216,064		165,702

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
TAIWAN — continued
Eclat Textile		1,000	$	15,932
Evergreen Marine Taiwan		16,800		56,104
Fubon Financial Holding		18,069		36,033
Global Unichip		1,000		45,513
Hon Hai Precision Industry		59,000		196,986
Hua Nan Financial Holdings		18,713		12,041
Inventec		67,000		118,031
Lite-On Technology		16,000		68,401
MediaTek		6,000		132,321
Mega Financial Holding		28,930		32,558
Micro-Star International		18,000		90,010
Novatek Microelectronics		19,000		237,517
Quanta Computer		23,000		182,315
Realtek Semiconductor		15,000		196,025
SinoPac Financial Holdings		26,327		14,131
Synnex Technology International		32,000		61,333
Taishin Financial Holding		148,552		82,936
Taiwan Cooperative Financial Holding		141,606		116,696
Taiwan Semiconductor Manufacturing ADR		2,893		270,698
United Microelectronics		202,000		288,405
Vanguard International Semiconductor		57,000		121,873
Wistron		39,000		142,578
Wiwynn		2,000		97,469
Yuanta Financial Holding		162,002		123,960
Zhen Ding Technology Holding		26,000		78,711
				4,055,399

THAILAND — 0.2%
Bumrungrad Hospital NVDR		20,900		154,504
Central Retail NVDR		10,300		12,117
Delta Electronics Thailand NVDR		45,000		139,268
Krung Thai Bank NVDR		280,000		154,245
PTT Exploration & Production NVDR		60,500		273,897
				734,031

TURKEY — 0.4%
Akbank		113,253		121,832
BIM Birlesik Magazalar		10,804		101,983
Ford Otomotiv Sanayi		3,836		123,769
Haci Omer Sabanci Holding		132,610		296,503
KOC Holding		62,845		333,465

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
TURKEY — continued
Pegasus Hava Tasimaciligi *		4,759	$	155,685
Tofas Turk Otomobil Fabrikasi		3,882		39,177
Turk Hava Yollari AO *		18,352		168,119
Turkcell Iletisim Hizmetleri		58,311		121,603
Turkiye Is Bankasi, Cl C		154,559		121,676
Turkiye Petrol Rafinerileri		13,652		72,050
Yapi ve Kredi Bankasi		223,345		132,650
				1,788,512

UNITED KINGDOM — 0.5%
Ashtead Group		4,475		312,169
AstraZeneca		1,371		184,156
BAE Systems		12,198		155,253
Barratt Developments		3,805		21,812
BP		87,195		538,803
Burberry Group		6,518		179,960
HSBC Holdings		82,919		611,712
JD Sports Fashion		39,370		72,264
Legal & General Group		52,042		143,787
Next		390		34,468
Rolls-Royce Holdings *		25,511		71,567
Spirax-Sarco Engineering		264		33,831
SSE		784		16,110
Standard Chartered		14,903		134,093
				2,509,985

UNITED STATES — 37.8%
COMMUNICATION SERVICES — 2.4%
Activision Blizzard		3,193		293,724
Alphabet, Cl A *		12,922		1,759,589
Alphabet, Cl C *		12,400		1,703,140
AT&T		20,459		302,589
Atlanta Braves Holdings, Cl C *		45		1,649
Charter Communications, Cl A *		223		97,701
Comcast, Cl A		18,958		886,476
Electronic Arts		1,103		132,338
Fox, Cl A		3,250		107,445
Fox, Cl B		2,469		75,354
Interpublic Group		1,698		55,372
Liberty Broadband, Cl A *		267		25,002
Liberty Broadband, Cl C *		570		53,329

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
COMMUNICATION SERVICES — continued
Liberty Media -Liberty Formula One, Cl A *		600	$	36,390
Liberty Media -Liberty Formula One, Cl C *		946		65,075
Live Nation Entertainment *		922		77,937
Meta Platforms, Cl A *		12,487		3,694,778
Netflix *		1,355		587,636
News, Cl B		1,712		37,664
Omnicom Group		2,187		177,169
Paramount Global, Cl A		193		3,544
Pinterest, Cl A *		1,730		47,558
ROBLOX, Cl A *		808		22,858
Sirius XM Holdings		6,100		26,840
Spotify Technology *		591		90,996
Take-Two Interactive Software *		447		63,563
T-Mobile US *		2,143		291,984
Trade Desk, Cl A *		2,715		217,281
Verizon Communications		19,291		674,799
Walt Disney *		3,382		283,006
Warner Bros Discovery *		10,089		132,570
Warner Music Group, Cl A		700		23,310
				12,048,666

CONSUMER DISCRETIONARY — 3.3%
Airbnb, Cl A *		496		65,249
Amazon.com *		9,041		1,247,748
Aptiv *		1,032		104,696
AutoNation *		4,486		704,706
AutoZone *		158		399,950
Best Buy		1,744		133,329
Booking Holdings *		120		372,604
BorgWarner		725		29,544
Caesars Entertainment *		615		33,985
CarMax *		1,199		97,934
Carnival *		6,565		103,858
Chipotle Mexican Grill, Cl A *		107		206,150
Choice Hotels International		455		57,739
Columbia Sportswear		288		21,122
Darden Restaurants		1,179		183,346
Deckers Outdoor *		514		271,952
Dick's Sporting Goods		2,978		346,461
Domino's Pizza		262		101,499

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
CONSUMER DISCRETIONARY — continued
DoorDash, Cl A *		1,118	$	94,057
DR Horton		5,420		645,088
eBay		2,133		95,516
Etsy *		503		37,006
Expedia Group *		550		59,614
Floor & Decor Holdings, Cl A *		788		78,564
Ford Motor		19,589		237,615
Garmin		1,013		107,398
General Motors		5,935		198,882
Gentex		1,373		44,842
Genuine Parts		797		122,523
Hilton Worldwide Holdings		1,360		202,164
Home Depot		2,944		972,403
Las Vegas Sands		1,152		63,199
Lennar, Cl A		1,992		237,227
Lennar, Cl B		77		8,213
LKQ		5,913		310,610
Lowe's		2,454		565,598
Lululemon Athletica *		912		347,709
Marriott International, Cl A		1,358		276,367
McDonald's		1,545		434,377
MGM Resorts International *		4,396		193,336
NIKE, Cl B		2,660		270,549
NVR *		39		248,716
Ollie's Bargain Outlet Holdings *		500		38,540
O'Reilly Automotive *		548		514,956
Penske Automotive Group		3,179		522,310
Phinia		145		4,031
Polaris		1,333		149,416
Pool		769		281,146
PulteGroup		9,406		771,856
PVH		2,014		168,370
Ralph Lauren, Cl A		503		58,665
Rivian Automotive, Cl A *		1,593		36,209
Ross Stores		1,244		151,532
Royal Caribbean Cruises *		2,980		294,841
Skechers U.S.A., Cl A *		899		45,229
Starbucks		2,710		264,062
Stellantis		13,961		259,162
Tesla *		2,677		690,880
TJX		4,444		410,981

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
CONSUMER DISCRETIONARY — continued
Toll Brothers		6,992	$	572,854
Tractor Supply		1,454		317,699
Ulta Beauty *		320		132,810
Vail Resorts		154		34,853
Williams-Sonoma		2,208		311,770
Yum! Brands		1,015		131,321
				16,496,938

CONSUMER STAPLES — 2.6%
Albertsons, Cl A		2,549		57,098
Altria Group		3,770		166,709
Archer-Daniels-Midland		2,684		212,841
Brown-Forman, Cl A		439		29,514
Brown-Forman, Cl B		866		57,269
Bunge		500		57,160
Campbell Soup		1,734		72,308
Casey's General Stores		473		115,606
Church & Dwight		1,050		101,609
Clorox		278		43,493
Coca-Cola		27,834		1,665,308
Colgate-Palmolive		1,867		137,168
Conagra Brands		2,189		65,407
Constellation Brands, Cl A		601		156,597
Costco Wholesale		1,074		589,927
Coty, Cl A *		1,972		22,796
Darling Ingredients *		310		19,146
Dollar General		4,094		567,019
Dollar Tree *		923		112,938
Estee Lauder, Cl A		451		72,399
General Mills		2,434		164,684
Hershey		1,385		297,581
Hormel Foods		1,262		48,701
J M Smucker		3,972		575,741
JBS		9,800		36,651
Kellogg		2,394		146,082
Kenvue		23,173		534,138
Keurig Dr Pepper		3,013		101,387
Kimberly-Clark		1,325		170,700
Kraft Heinz		4,127		136,562
Kroger		11,890		551,577

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
CONSUMER STAPLES — continued
Lamb Weston Holdings		523	$	50,945
McCormick		760		62,424
Molson Coors Beverage, Cl B		1,122		71,236
Mondelez International, Cl A		2,561		182,497
Monster Beverage *		1,746		100,238
PepsiCo		5,768		1,026,243
Philip Morris International		3,081		295,961
Procter & Gamble		4,936		761,822
Sysco		2,262		157,548
Target		5,890		745,380
Tyson Foods, Cl A		2,089		111,281
Walgreens Boots Alliance		2,274		57,555
Walmart		13,266		2,157,184
				12,866,430

ENERGY — 3.3%
APA		1,175		51,512
Baker Hughes, Cl A		4,219		152,686
Cheniere Energy		1,146		187,027
Chesapeake Energy		702		61,923
Chevron		16,966		2,733,222
ConocoPhillips		9,703		1,154,948
Coterra Energy		6,460		182,107
Devon Energy		26,974		1,378,102
Diamondback Energy		3,995		606,361
EOG Resources		4,304		553,581
EQT		4,301		185,889
Exxon Mobil		30,273		3,366,055
Halliburton		4,879		188,427
Hess		2,314		357,513
HF Sinclair		601		33,109
Kinder Morgan		8,942		153,981
Marathon Oil		40,287		1,061,562
Marathon Petroleum		4,908		700,715
Occidental Petroleum		8,900		558,831
ONEOK		3,454		225,201
Ovintiv		1,213		56,963
Phillips 66		2,765		315,652
Pioneer Natural Resources		1,593		379,023
Schlumberger		5,145		303,349

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
ENERGY — continued
Targa Resources		7,200	$	621,000
Tenaris		10,560		168,642
Texas Pacific Land		14		26,387
Valero Energy		4,768		619,363
Williams		5,634		194,542
				16,577,673

FINANCIALS — 4.6%
Aflac		3,450		257,266
Allstate		2,878		310,277
American Express		1,862		294,177
American Financial Group		105		12,172
American International Group		8,351		488,701
Ameriprise Financial		2,062		696,090
Aon, Cl A		1,345		448,410
Apollo Global Management		786		68,649
Arch Capital Group *		6,548		503,279
Ares Management, Cl A		500		51,720
Arthur J Gallagher		956		220,339
Assurant		1,057		147,272
Assured Guaranty		510		30,008
Axis Capital Holdings		1,862		102,149
Bank of America		15,404		441,633
Bank of New York Mellon		3,754		168,442
Bank OZK		2,910		116,895
Berkshire Hathaway, Cl B *		4,115		1,482,223
BlackRock, Cl A		261		182,841
Blackstone, Cl A		897		95,414
Block, Cl A *		1,113		64,164
Brown & Brown		1,940		143,754
Capital One Financial		2,053		210,207
Carlyle Group		1,244		40,243
Cboe Global Markets		418		62,579
Charles Schwab		3,684		217,909
Chubb		975		195,848
Cincinnati Financial		1,095		115,840
Citigroup		2,537		104,753
Citizens Financial Group		2,164		60,873
CME Group, Cl A		722		146,335
CNA Financial		873		34,335

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
FINANCIALS — continued
Discover Financial Services		2,139	$	192,660
East West Bancorp		9,222		510,345
Equitable Holdings		1,214		34,963
Erie Indemnity, Cl A		189		52,680
Everest Group		766		276,281
Eversource Energy		830		52,971
F&G Annuities & Life		40		1,132
FactSet Research Systems		295		128,741
Fidelity National Financial		3,034		125,608
Fidelity National Information Services		2,179		121,719
Fifth Third Bancorp		3,609		95,819
First American Financial		1,333		82,219
First Citizens BancShares, Cl A		181		246,232
Fiserv *		1,223		148,460
FleetCor Technologies *		691		187,765
Franklin Resources		1,281		34,254
Global Payments		459		58,151
Globe Life		426		47,529
Goldman Sachs Group		1,243		407,343
Hartford Financial Services Group		3,803		273,131
Huntington Bancshares		7,704		85,437
Interactive Brokers Group, Cl A		618		56,287
Intercontinental Exchange		2,316		273,265
Jack Henry & Associates		485		76,038
Jefferies Financial Group		1,798		64,171
JPMorgan Chase		18,902		2,765,930
KKR		2,096		131,650
Loews		807		50,107
LPL Financial Holdings		431		99,384
M&T Bank		1,213		151,686
Markel Group *		93		137,540
Marsh & McLennan		1,584		308,864
Mastercard, Cl A		1,982		817,852
MetLife		3,415		216,306
Moody's		820		276,176
Morgan Stanley		8,918		759,368
Morningstar		165		38,391
MSCI, Cl A		350		190,267
Nasdaq		4,851		254,580
New York Community Bancorp		12,061		148,109
Northern Trust		1,093		83,144

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
FINANCIALS — continued
Old Republic International		4,320	$	118,152
PayPal Holdings *		2,554		159,651
PNC Financial Services Group		1,285		155,138
Primerica		147		29,541
Principal Financial Group		2,249		174,770
Progressive		2,923		390,133
Prudential Financial		2,161		204,582
Raymond James Financial		865		90,470
Regions Financial		32,427		594,711
S&P Global		546		213,410
State Street		2,158		148,341
Synchrony Financial		14,189		458,021
T Rowe Price Group		1,288		144,552
Tradeweb Markets, Cl A		588		50,821
Travelers		1,759		283,604
Truist Financial		4,534		138,514
Unum Group		4,228		207,975
US Bancorp		4,207		153,682
Visa, Cl A		3,092		759,643
Wells Fargo		9,264		382,510
Willis Towers Watson		667		137,909
WR Berkley		2,502		154,774
				22,728,256

HEALTH CARE — 4.8%
Abbott Laboratories		2,286		235,229
AbbVie		5,593		821,947
Agilent Technologies		1,063		128,697
Align Technology *		248		91,795
Alnylam Pharmaceuticals *		658		130,166
Amgen		1,106		283,512
Avantor *		3,193		69,128
Baxter International		2,872		116,603
Becton Dickinson		582		162,640
Biogen *		409		109,350
BioMarin Pharmaceutical *		1,415		129,303
Bio-Rad Laboratories, Cl A *		108		43,222
Bio-Techne		492		38,573
Boston Scientific *		3,716		200,441
Bristol-Myers Squibb		9,439		581,914

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
HEALTH CARE — continued
Cardinal Health		2,324	$	202,955
Cencora, Cl A		2,726		479,721
Centene *		2,173		133,965
Chemed		99		50,633
Cigna Group		1,265		349,469
Cooper		416		153,916
CSL		245		43,267
CVS Health		4,921		320,702
Danaher		2,890		765,850
DexCom *		572		57,761
Edwards Lifesciences *		1,770		135,352
Elevance Health		1,369		605,112
Eli Lilly		5,104		2,828,637
Exact Sciences *		581		48,612
Fortrea Holdings *		887		24,437
GE HealthCare Technologies		996		70,168
Gilead Sciences		5,944		454,597
HCA Healthcare		2,855		791,692
Hologic *		2,693		201,275
Horizon Therapeutics *		915		103,157
Humana		1,033		476,864
IDEXX Laboratories *		630		322,188
Illumina *		350		57,827
Incyte *		539		34,782
Insulet *		150		28,756
Intuitive Surgical *		307		95,993
IQVIA Holdings *		654		145,600
Johnson & Johnson		9,953		1,609,201
Laboratory Corp of America Holdings		1,096		228,078
McKesson		2,358		972,251
Medtronic		2,869		233,823
Merck		23,505		2,561,575
Mettler-Toledo International *		197		239,056
Moderna *		2,376		268,654
Molina Healthcare *		1,602		496,812
Neurocrine Biosciences *		250		27,222
Pfizer		26,408		934,315
Quest Diagnostics		2,038		267,997
Regeneron Pharmaceuticals *		593		490,109
ResMed		1,060		169,165
Revvity		501		58,632

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
HEALTH CARE — continued
Royalty Pharma, Cl A		1,078	$	32,146
Seagen *		452		93,144
STERIS		377		86,555
Stryker		644		182,606
Thermo Fisher Scientific		911		507,518
United Therapeutics *		1,119		251,059
UnitedHealth Group		1,848		880,720
Veeva Systems, Cl A *		496		103,515
Vertex Pharmaceuticals *		1,035		360,532
Viatris, Cl W		3,810		40,958
Waters *		385		108,108
West Pharmaceutical Services		206		83,821
Zimmer Biomet Holdings		951		113,283
Zoetis, Cl A		2,587		492,849
				24,019,512

INDUSTRIALS — 5.8%
3M		2,023		215,793
A O Smith		331		23,998
Acuity Brands		141		22,740
AECOM		1,348		118,287
AGCO		1,515		196,238
Air Lease, Cl A		1,150		46,874
Allegion		314		35,736
Allison Transmission Holdings		2,427		146,712
American Airlines Group *		2,284		33,643
AMETEK		1,350		215,338
Automatic Data Processing		1,188		302,477
Axon Enterprise *		200		42,582
Boeing *		1,137		254,722
Booz Allen Hamilton Holding, Cl A		3,837		434,770
Broadridge Financial Solutions		1,442		268,515
Builders FirstSource *		5,904		856,316
Carlisle		693		182,273
Carrier Global		3,583		205,843
Caterpillar		1,605		451,214
Cintas		1,065		536,941
Copart *		8,172		366,351
Core & Main, Cl A *		793		26,042
Crane		415		37,815

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
INDUSTRIALS — continued
CSX		11,600	$	350,320
Cummins		2,291		527,022
Deere		1,394		572,850
Delta Air Lines		5,204		223,148
Donaldson		386		24,654
Dover		2,945		436,743
Eaton		4,155		957,187
Emerson Electric		3,927		385,828
Equifax		514		106,244
Esab		1,850		133,515
Expeditors International of Washington		2,457		286,756
Experian		4,503		157,261
Fastenal		7,132		410,661
FedEx		1,334		348,201
Ferguson		1,049		169,476
Fortive		3,962		312,404
Fortune Brands Innovations		2,696		186,078
FTI Consulting *		154		28,616
General Dynamics		1,285		291,232
General Electric		6,729		770,201
Graco		300		23,682
HEICO		516		87,054
HEICO, Cl A		651		88,165
Honeywell International		1,177		221,205
Howmet Aerospace		4,905		242,650
Hubbell, Cl B		1,296		422,561
IDEX		1,052		238,173
Illinois Tool Works		1,178		291,378
Ingersoll Rand		8,685		604,563
ITT		1,371		140,226
Jacobs Solutions		2,452		330,579
JB Hunt Transport Services		1,400		263,032
Johnson Controls International		3,316		195,843
L3Harris Technologies		542		96,525
Landstar System		1,364		258,901
Leidos Holdings		1,402		136,709
Lennox International		704		265,274
Lincoln Electric Holdings		189		36,375
Lockheed Martin		808		362,267
Masco		908		53,581
Nordson		890		217,285

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
INDUSTRIALS — continued
Norfolk Southern		1,198	$	245,602
Northrop Grumman		509		220,443
nVent Electric		2,244		126,876
Old Dominion Freight Line		1,981		846,620
Otis Worldwide		1,961		167,764
Owens Corning		2,436		350,565
PACCAR		6,179		508,470
Parker-Hannifin		1,745		727,490
Paychex		1,916		234,193
Paycom Software		173		51,007
Paylocity Holding *		162		32,481
Pentair		2,623		184,292
Quanta Services		3,323		697,398
Regal Beloit		1,681		272,641
Republic Services, Cl A		927		133,609
Rockwell Automation		581		181,318
Rollins		2,592		102,565
RTX		2,921		251,323
Ryder System		349		35,144
Schneider Electric		3,162		541,994
Snap-on		918		246,575
Southwest Airlines		2,253		71,195
SS&C Technologies Holdings		1,137		65,287
Stanley Black & Decker		966		91,171
Textron		596		46,315
Timken		1,565		119,597
Toro		245		25,068
Trane Technologies		3,992		819,398
TransDigm Group *		266		240,424
TransUnion		731		59,372
Uber Technologies *		1,520		71,790
U-Haul Holding *		93		5,298
Union Pacific		2,930		646,270
United Airlines Holdings *		16,794		836,509
United Parcel Service, Cl B		2,420		409,948
United Rentals		2,289		1,090,800
Verisk Analytics, Cl A		1,230		297,931
Vertiv Holdings, Cl A		745		29,346
Waste Management		2,256		353,696
Watsco		398		145,091
Westinghouse Air Brake Technologies		2,149		241,805

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
INDUSTRIALS — continued
WW Grainger		784	$	559,886
XPO *		1,012		75,526
Xylem		849		87,905
				28,823,643

INFORMATION TECHNOLOGY — 8.7%
Accenture, Cl A		3,613		1,169,781
Adobe *		716		400,487
Advanced Micro Devices *		3,281		346,867
Akamai Technologies *		1,533		161,103
Amdocs		1,283		114,444
Amphenol, Cl A		3,386		299,255
Analog Devices		1,276		231,951
ANSYS *		174		55,483
Apple		45,877		8,618,912
Applied Materials		1,922		293,605
Arista Networks *		1,320		257,704
Arrow Electronics *		1,279		170,657
Atlassian, Cl A *		212		43,261
Autodesk *		970		215,282
Avnet		1,696		86,072
Bentley Systems, Cl B		1,002		50,010
BILL Holdings *		377		43,468
Broadcom		2,937		2,710,528
Cadence Design Systems *		2,020		485,689
CDW		2,462		519,851
Cirrus Logic *		1,018		83,517
Cisco Systems		8,177		468,951
Cloudflare, Cl A *		528		34,336
Cognizant Technology Solutions, Cl A		3,019		216,191
Corning		4,142		135,940
Crowdstrike Holdings, Cl A *		236		38,475
Datadog, Cl A *		325		31,356
Dell Technologies, Cl C		1,214		68,275
DocuSign, Cl A *		653		32,846
Dynatrace *		932		44,922
Enphase Energy *		452		57,192
Entegris		400		40,508
EPAM Systems *		688		178,185
Fair Isaac *		436		394,401

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
INFORMATION TECHNOLOGY — continued
First Solar *		1,162	$	219,757
Flex *		1,608		44,365
Fortinet *		5,815		350,121
Gartner *		747		261,211
Gen Digital		6,433		130,268
GoDaddy, Cl A *		1,390		100,789
Hewlett Packard Enterprise		15,022		255,224
HP		4,159		123,564
HubSpot *		73		39,896
Intel		5,517		193,867
International Business Machines		3,886		570,581
Intuit		289		156,583
Jabil		3,680		421,066
Juniper Networks		1,278		37,215
Keysight Technologies *		2,743		365,642
KLA		1,907		957,066
Lam Research		1,154		810,570
Lattice Semiconductor *		2,520		245,095
Manhattan Associates *		333		67,473
Marvell Technology		3,339		194,497
Microchip Technology		2,316		189,541
Micron Technology		3,688		257,939
Microsoft		21,581		7,073,388
MongoDB, Cl A *		27		10,295
Monolithic Power Systems		140		72,969
Motorola Solutions		2,195		622,436
NetApp		1,110		85,137
Nutanix, Cl A *		1,727		53,710
NVIDIA		10,705		5,283,453
Okta, Cl A *		294		24,552
ON Semiconductor *		9,324		918,041
Oracle		3,908		470,484
Palantir Technologies, Cl A *		5,170		77,447
Palo Alto Networks *		528		128,462
PTC *		719		105,815
QUALCOMM		5,201		595,670
Roper Technologies		433		216,093
Salesforce *		1,182		261,766
Seagate Technology Holdings		1,276		90,328
ServiceNow *		117		68,893
Skyworks Solutions		1,111		120,810

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
INFORMATION TECHNOLOGY — continued
Snowflake, Cl A *		440	$	69,014
Splunk *		600		72,756
Synopsys *		1,374		630,515
TD SYNNEX		1,634		166,260
TE Connectivity		1,365		180,712
Teledyne Technologies *		930		389,019
Teradyne		2,561		276,255
Texas Instruments		2,972		499,474
Trimble *		1,952		106,950
Tyler Technologies *		104		41,437
Ubiquiti		503		88,040
VeriSign *		563		116,986
VMware, Cl A *		1,115		188,190
Western Digital *		2,861		128,745
Workday, Cl A *		241		58,925
Zebra Technologies, Cl A *		408		112,204
Zoom Video Communications, Cl A *		780		55,403
Zscaler *		219		34,175
				43,586,644

MATERIALS — 1.4%
Air Products & Chemicals		894		264,168
Albemarle		2,263		449,681
Amcor		15,203		148,077
Avery Dennison		562		105,870
Ball		1,853		100,896
Berry Global Group		648		42,340
Celanese, Cl A		897		113,345
CF Industries Holdings		1,501		115,682
Chemours		3,310		112,606
Corteva		4,090		206,586
Crown Holdings		819		75,889
Dow		3,898		212,675
DuPont de Nemours		1,894		145,630
Eagle Materials		1,112		210,524
Eastman Chemical		425		36,129
Ecolab		470		86,391
Element Solutions		2,957		60,973
FMC		1,016		87,610
Freeport-McMoRan		12,316		491,532

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
MATERIALS — continued
Graphic Packaging Holding		1,659	$	36,896
International Flavors & Fragrances		1,296		91,303
International Paper		3,545		123,791
Linde		799		309,245
LyondellBasell Industries, Cl A		2,752		271,815
Martin Marietta Materials		509		227,223
Mosaic		4,747		184,421
Newmont		1,835		72,336
Nucor		4,540		781,334
Olin		3,385		196,398
Packaging Corp of America		1,155		172,210
PPG Industries		1,244		176,349
Reliance Steel & Aluminum		1,913		545,128
RPM International		1,535		153,101
Sherwin-Williams		748		203,247
Silgan Holdings		925		41,745
Steel Dynamics		3,905		416,234
Vulcan Materials		514		112,180
Westlake		200		26,196
				7,207,756

REAL ESTATE — 0.1%
CBRE Group, Cl A *		3,991		339,435
CoStar Group *		819		67,150
Zillow Group, Cl C *		796		41,519
				448,104

UTILITIES — 0.8%
AES		2,704		48,483
Alliant Energy		1,020		51,173
Ameren		950		75,306
American Electric Power		2,079		162,994
American Water Works		463		64,237
Atmos Energy		1,028		119,197
Avangrid		928		32,016
CenterPoint Energy		2,026		56,505
CMS Energy		1,972		110,807
Consolidated Edison		1,641		145,983
Constellation Energy		1,592		165,823
Dominion Energy		2,310		112,127

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

COMMON STOCK — continued
	Shares		Value
UNITED STATES — continued
UTILITIES — continued
DTE Energy		954	$	98,625
Duke Energy		1,937		172,006
Edison International		1,913		131,710
Entergy		1,668		158,877
Essential Utilities		800		29,520
Evergy		1,889		103,838
Exelon		4,778		191,693
FirstEnergy		4,518		162,964
NextEra Energy		2,637		176,152
NiSource		547		14,638
PG&E *		11,835		192,910
Pinnacle West Capital		6,603		510,214
PPL		2,976		74,162
Public Service Enterprise Group		2,481		151,539
Sempra		2,838		199,284
Southern		2,768		187,477
WEC Energy Group		243		20,441
Xcel Energy		931		53,188
				3,773,889

				188,577,511
ZAMBIA — 0.0%
First Quantum Minerals		6,725		180,667

Total Common Stock
(Cost $176,000,160)				248,906,082
REGISTERED INVESTMENT COMPANIES — 48.7%

EQUITY FUNDS — 48.7%
AQR International Defensive Style Fund, Cl R6		478,459		6,507,045
AQR Large Cap Defensive Style Fund, Cl R6		239,014		6,252,615
Avantis Emerging Markets Equity ETF		203,954		11,029,832
Avantis International Equity ETF		68,174		3,917,278
Avantis International Small Cap Value ETF		87,677		5,188,725
DFA Emerging Markets Portfolio, Cl I		610,223		16,323,468
DFA Emerging Markets Small Cap Portfolio, Cl I		408,988		9,079,529
DFA Emerging Markets Targeted Value Portfolio, Cl I		186,911		2,031,720

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

REGISTERED INVESTMENT COMPANIES — continued
	Shares		Value
EQUITY FUNDS — continued
DFA International High Relative Profitability Portfolio, Cl I		920,371	$	11,090,467
DFA International Real Estate Securities, Cl I		1,941,000		7,045,830
DFA International Small Cap Growth Portfolio, Cl I		113,213		1,631,405
DFA International Small Cap Value Portfolio, Cl I		435,335		8,902,611
DFA International Value Portfolio, Cl I		536,629		10,437,441
DFA Large Cap International Portfolio, Cl I		841,619		21,158,311
DFA Real Estate Securities Portfolio, Cl I		410,252		15,138,290
DFA US Small Cap Portfolio, Cl I		221,192		9,287,863
DFA US Small Cap Value Portfolio, Cl I		161,679		6,813,149
DFA US Targeted Value Portfolio, Cl I		778,747		23,167,737
Dimensional Emerging Markets High Profitability		249,078		5,844,765
iShares MSCI Global Min Vol Factor ETF		301,828		29,437,285
iShares MSCI USA Momentum Factor ETF		50,000		7,360,000
Schwab International Small-Cap Equity ETF		70,162		2,386,911
Vanguard Small Cap Value ETF		36,894		6,214,794
Vanguard U.S. Quality Factor ETF		39,529		4,628,387
Vanguard U.S. Value Factor ETF		84,522		8,752,921
Vanguard US Momentum Factor ETF		25,450		3,075,068
Total Registered Investment Companies
(Cost $194,235,475)				242,703,447
PREFERRED STOCK — 0.1%

BRAZIL — 0.1%
Cia Energetica de Minas Gerais⁽²⁾		24,479		60,949
Petroleo Brasileiro⁽²⁾		43,300		279,891

Total Preferred Stock
(Cost $248,772)				340,840
RIGHTS — 0.0%
		Number of Rights
Abiomed⁽¹⁾		241		3,762
Constellation Software*		22		12

Total Rights
(Cost $–)				3,774

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

WARRANTS — 0.0%
		Number of Warrants	Value
Constellation Software, Expires 08/22/28⁽¹⁾		22	$	—

Total Warrants (Cost $–)				—
SHORT-TERM INVESTMENT — 1.3%
	Shares
DWS Government Money Market Series, Institutional Shares, 5.420% (A)
(Cost $6,608,380)		6,608,380		6,608,380

Total Investments — 100.0%
(Cost $377,092,787)			$	498,562,523

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

A list of open futures contracts held by the Fund at August 31, 2023, is as follows:

Type of Contract	Number of Contracts		Expiration Date		Notional Amount		Value		Unrealized Appreciation/ (Depreciation)
Long Contracts
IFSC Nifty50 Index		101		Sep-2023	$	3,932,764	$	3,928,698	$	(4,066	)
MSCI EAFE Index		5		Sep-2023		535,328		527,325		(8,003	)
S&P 500 Index E-MINI		4		Sep-2023		889,518		903,200		13,682
					$	5,357,610	$	5,359,223	$	1,613

Percentages are based on Net Assets of $498,514,955.

*	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, 2023.

ADR — American Depositary Receipt

Cl — Class

EAFE — Europe, Australasia and Far East

ETF — Exchange-Traded Fund

MSCI — Morgan Stanley Capital International

NVDR — Non-Voting Depositary Receipt

S&P— Standard & Poor's

Ser — Series

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

The following table summarizes the inputs used as of August 31, 2023, 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
Australia	$	213,911	$	1,200,753	$	–		$	1,414,664
Austria		–		50,953		–			50,953
Belgium		–		78,011		–			78,011
Brazil		1,766,594		–		–			1,766,594
Canada		4,060,964		–		–			4,060,964
Chile		–		94,518		–			94,518
China		330,181		6,744,443		–			7,074,624
Denmark		–		1,729,290		–			1,729,290
Finland		–		514,500		–			514,500
France		–		2,573,129		–			2,573,129
Germany		–		3,232,418		–			3,232,418
Hong Kong		–		34,519		–			34,519
Indonesia		–		1,570,858		–			1,570,858
Italy		75,940		1,156,712		–			1,232,652
Japan		–		12,123,456		–			12,123,456
Malaysia		–		90,770		–			90,770
Mexico		2,645,771		–		–			2,645,771
Netherlands		–		2,135,731		–			2,135,731
Norway		–		104,782		–			104,782
Philippines		–		34,401		–			34,401
Poland		–		115,484		–			115,484
Portugal		–		14,403		–			14,403
Russia		–		–		–	⁽¹⁾		–	⁽¹⁾
Singapore		–		143,740		–			143,740
South Africa		59,967		355,268		–			415,235
South Korea		–		3,188,780		–			3,188,780
Spain		–		1,171,708		–			1,171,708
Sweden		–		1,150,369		–			1,150,369
Switzerland		–		2,297,653		–			2,297,653
Taiwan		270,698		3,784,701		–			4,055,399
Thailand		–		734,031		–			734,031
Turkey		–		1,788,512		–			1,788,512
United Kingdom		–		2,509,985		–			2,509,985
United States		187,407,185		1,170,326		–			188,577,511
Zambia		180,667		–		–			180,667
Total Common Stock		197,011,878		51,894,204		–	⁽¹⁾		248,906,082
Registered Investment Companies		242,703,447		–		–			242,703,447
Preferred Stock
Brazil		340,840		–		–			340,840
Rights		12		–		3,762			3,774
Warrants		–		–		–	⁽¹⁾		–	⁽¹⁾
Short-Term Investment		6,608,380		–		–			6,608,380
Total Investments in Securities	$	446,664,557	$	51,894,204	$	3,762		$	498,562,523

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

SYMMETRY PANORAMIC GLOBAL EQUITY FUND
AUGUST 31, 2023

Other Financial Instruments	Level 1			Level 2		Level 3		Total
Futures Contracts^
Unrealized Appreciation	$	13,682		$	–	$	–	$	13,682
Unrealized Depreciation		(12,069	)		–		–		(12,069	)
Total Other Financial Instruments	$	1,613		$	–	$	–	$	1,613

A reconciliation of Level 3 investments is presented when the Fund has a significant amount of Level 3 investments at the end of the period in relation to net assets. Management has concluded that Level 3 investments are not material in relation to net assets.

(1)

Includes security valued at zero.

Futures 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 TAX-MANAGED GLOBAL EQUITY FUND
AUGUST 31, 2023

SECTOR WEIGHTINGS^† (UNAUDITED)

^†	Percentages are based on total investments.

SCHEDULE OF INVESTMENTS
REGISTERED INVESTMENT COMPANIES — 99.1%
	Shares		Value
EQUITY FUNDS — 99.1%
AQR Emerging Multi-Style II Fund, Cl R6		623,122	$	5,907,200
AQR International Defensive Style Fund, Cl R6		88,209		1,199,639
AQR International Multi-Style Fund, Cl R6		1,038,391		12,803,356
AQR Large Cap Defensive Style Fund, Cl R6		63,556		1,662,634
AQR Large Capital Multi-Style Fund, Cl R6		1,086,127		19,724,061
Avantis Emerging Markets Equity ETF		51,424		2,781,010
Avantis International Equity ETF		54,414		3,126,628
Avantis International Small Cap Value ETF		23,085		1,366,170
DFA Emerging Markets Core Equity Portfolio, Cl I		63,656		1,380,701
DFA Emerging Markets Portfolio, Cl I		125,208		3,349,313
DFA Emerging Markets Small Cap Portfolio, Cl I		90,126		2,000,804
DFA Emerging Markets Targeted Value Portfolio, Cl I		49,988		543,367
DFA International High Relative Profitability Portfolio, Cl I		255,518		3,078,990
DFA International Small Cap Growth Portfolio, Cl I		30,149		434,448
DFA International Small Cap Value Portfolio, Cl I		155,222		3,174,296
DFA Large Cap International Portfolio, Cl I		232,133		5,835,815
DFA Real Estate Securities Portfolio, Cl I		61,710		2,277,105
DFA US High Relative Profitability Portfolio, Cl I		412,431		8,054,769
Dimensional Emerging Markets High Profitability		126,770		2,974,734
Dimensional International Value ETF		91,494		3,047,665
Dimensional US Core Equity 2 ETF		145,685		4,016,536
Dimensional US Equity ETF		311,583		15,264,451
Dimensional US Marketwide Value ETF		218,573		7,689,398
Dimensional US Small Cap ETF		47,433		2,635,852
Dimensional US Targeted Value ETF		177,534		8,521,632
iShares MSCI Global Min Vol Factor ETF		88,678		8,648,765

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

SYMMETRY PANORAMIC TAX-MANAGED GLOBAL EQUITY FUND
AUGUST 31, 2023

REGISTERED INVESTMENT COMPANIES — continued
	Shares		Value
EQUITY FUNDS — continued
iShares MSCI USA Momentum Factor ETF		4,736	$	697,139
Schwab International Small-Cap Equity ETF		21,798		741,568
Vanguard Small Cap Value ETF		8,931		1,504,427
Vanguard U.S. Quality Factor ETF		8,804		1,030,846
Vanguard U.S. Value Factor ETF		17,776		1,840,845
Vanguard US Momentum Factor ETF		2,889		349,072
Total Registered Investment Companies
(Cost $111,396,113)				137,663,236
SHORT-TERM INVESTMENT — 3.0%

DWS Government Money Market Series, Institutional Shares, 5.420% (A)
(Cost $4,224,349)		4,224,349		4,224,349

Total Investments — 102.1%
(Cost $115,620,462)			$	141,887,585

Percentages are based on Net Assets of $138,970,720.

(A)

The rate reported is the 7-day effective yield as of August 31, 2023.

Cl — Class

ETF — Exchange-Traded Fund

Min — Minimum

MSCI — Morgan Stanley Capital International

Vol — Volatility

As of August 31, 2023, 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 US FIXED INCOME FUND
AUGUST 31, 2023

SECTOR WEIGHTINGS^† (UNAUDITED)

^†	Percentages are based on total investments.

SCHEDULE OF INVESTMENTS
REGISTERED INVESTMENT COMPANIES — 98.9%
	Shares		Value
FIXED INCOME FUNDS — 98.9%
iShares Core 1-5 Year USD Bond ETF, Cl 5		646,812	$	30,231,993
JPMorgan BetaBuilders US Agg		558,422		25,464,043
Vanguard Short-Term Bond Index Fund, Cl Institutional Plus (A)		9,096,624		90,056,580
Vanguard Total Bond Market Index Fund, Cl Institutional Plus (A)		8,035,711		75,857,112
Total Registered Investment Companies
(Cost $237,541,608)				221,609,728
SHORT-TERM INVESTMENT — 0.7%

DWS Government Money Market Series, Institutional Shares, 5.420% (B)
(Cost $1,596,210)		1,596,210		1,596,210

Total Investments — 99.6%
(Cost $239,137,818)			$	223,205,938

Percentages are based on Net Assets of $224,127,852.

(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, 2023.

Cl — Class

ETF — Exchange-Traded Fund

USD — U.S. Dollar

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, 2023

SECTOR WEIGHTINGS^† (UNAUDITED)

^†	Percentages are based on total investments.

SCHEDULE OF INVESTMENTS
REGISTERED INVESTMENT COMPANIES — 99.0%
	Shares		Value
MUNICIPAL BOND FUNDS — 99.0%
DFA Intermediate-Term Municipal Bond Portfolio, Cl I		998,279	$	9,823,063
DFA Short-Term Municipal Bond Portfolio, Cl I (A)		1,875,401		18,941,553
iShares National Muni Bond ETF		19,834		2,091,694
iShares Short-Term National Muni Bond ETF		43,533		4,517,855
Vanguard Tax-Exempt Bond Index ETF		84,350		4,173,638
Total Registered Investment Companies
(Cost $40,718,922)				39,547,803
SHORT-TERM INVESTMENT — 1.3%

DWS Government Money Market Series, Institutional Shares, 5.420% (B)
(Cost $523,443)		523,443		523,443

Total Investments — 100.3%
(Cost $41,242,365)			$	40,071,246

Percentages are based on Net Assets of $39,940,670.

(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, 2023.

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, 2023

SECTOR WEIGHTINGS^† (UNAUDITED)

^†	Percentages are based on total investments.

SCHEDULE OF INVESTMENTS
REGISTERED INVESTMENT COMPANIES — 99.1%
	Shares		Value
FIXED INCOME FUNDS — 99.1%
DFA Five-Year Global Fixed Income Portfolio, Cl I		2,463,675	$	24,981,668
JPMorgan BetaBuilders US Agg		950,146		43,326,658
Vanguard Total Bond Market Index Fund, Cl Institutional Plus (A)		13,661,117		128,960,940
Vanguard Total International Bond Index Fund, Cl Institutional (A)		5,292,621		154,491,616
Total Registered Investment Companies
(Cost $390,393,710)				351,760,882
SHORT-TERM INVESTMENT — 0.9%

DWS Government Money Market Series, Institutional Shares, 5.420% (B)
(Cost $3,358,461)		3,358,461		3,358,461

Total Investments — 100.0%
(Cost $393,752,171)			$	355,119,343

Percentages are based on Net Assets of $354,956,896.

(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, 2023.

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 ALTERNATIVES FUND
AUGUST 31, 2023

SECTOR WEIGHTINGS^† (UNAUDITED)

^†	Percentages are based on total investments.

SCHEDULE OF INVESTMENTS
REGISTERED INVESTMENT COMPANIES — 95.7%
	Shares		Value
EQUITY FUNDS — 95.7%
AQR Alternative Risk Premia Fund, Cl R6		47,747	$	490,841
AQR Diversified Arbitrage Fund, Cl R6 (A)		431,075		5,172,903
AQR Managed Futures Strategy Fund, Cl R6		293,534		2,624,198
AQR Style Premia Alternative Fund, Cl R6		266,440		2,203,456
Total Registered Investment Companies
(Cost $9,680,075)				10,491,398
SHORT-TERM INVESTMENT — 4.4%

DWS Government Money Market Series, Institutional Shares, 5.420% (B)
(Cost $482,645)		482,645		482,645

Total Investments — 100.1%
(Cost $10,162,720)			$	10,974,043

Percentages are based on Net Assets of $10,961,148.

(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, 2023.

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, 2023

Statements of Assets and Liabilities

	US Equity Fund		International Equity Fund		Global Equity Fund		Tax-Managed Global Equity Fund
Assets:
Investments, at Value ^†	$	530,244,084	$	271,821,670	$	498,562,523	$	141,887,585
Foreign Currency, at Value ^†^†		36		371,182		404,035		–
Dividends and Interest Receivable		607,619		190,211		491,524		65
Receivable for Capital Shares Sold		158,857		84,894		150,377		54,409
Receivable for Investment Securities Sold		90,483		–		54,673		1,057,105
Unrealized Appreciation on Futures Contracts		52,105		–		13,682		–
Cash Collateral on Futures Contracts		12,621		295,879		267,050		–
Reclaim Receivable		1,197		172,040		133,556		–
Unrealized Appreciation on Spot Currency Contracts		–		–		2		–
Prepaid Expenses		9,843		6,109		9,543		4,087
Total Assets		531,176,845		272,941,985		500,086,965		143,003,251
Liabilities:
Payable for Capital Shares Redeemed		1,091,830		536,108		1,062,550		112,299
Payable for Investment Securities Purchased		135,750		–		145,584		3,835,794
Shareholder Servicing Fees Payable		123,479		64,727		117,533		31,754
Payable Due to Adviser		114,287		68,220		105,365		13,286
Audit Fees Payable		15,884		15,884		15,884		15,884
Payable Due to Administrator		12,276		6,347		11,596		3,208
Trustees Fees Payable		5,337		5,337		5,337		5,337
Transfer Agent Fees Payable		4,798		4,332		4,747		3,998
Chief Compliance Officer Fees Payable		3,678		1,896		3,472		959
Unrealized Depreciation on Futures Contracts		–		5,572		12,069		–
Other Accrued Expenses		52,429		66,734		87,873		10,012
Total Liabilities		1,559,748		775,157		1,572,010		4,032,531
Net Assets	$	529,617,097	$	272,166,828	$	498,514,955	$	138,970,720
^† Cost of Investments	$	369,261,891	$	222,640,239	$	377,092,787	$	115,620,462
^†^† Cost of Foreign Currency		–		359,829		391,425		–
Net Assets Consist of:
Paid-in Capital	$	351,869,631	$	235,444,945	$	366,268,530	$	111,964,177
Total Distributable Earnings		177,747,466		36,721,883		132,246,425		27,006,543
Net Assets	$	529,617,097	$	272,166,828	$	498,514,955	$	138,970,720

Outstanding Shares of Beneficial Interest (unlimited authorization - no par value)		39,371,701		24,232,577		39,862,001		10,248,232
Class I Shares Net Asset Value, Offering and Redemption Price Per Share	$	13.45	$	11.23	$	12.51	$	13.56

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, 2023

Statements of Assets and Liabilities

	US Fixed Income Fund			Municipal Fixed Income Fund			Global Fixed Income Fund			Alternatives Fund
Assets:
Investments, at Value ^†	$	223,205,938		$	40,071,246		$	355,119,343		$	10,974,043
Receivable for Investment Securities Sold		715,509			–			–			–
Dividends and Interest Receivable		416,081			49,913			608,901			23
Receivable for Capital Shares Sold		38,831			23,343			100,627			4,468
Receivable Due from Adviser		–			2,645			–			8,215
Prepaid Expenses		5,782			2,476			7,328			3,663
Total Assets		224,382,141			40,149,623			355,836,199			10,990,412
Liabilities:
Payable for Capital Shares Redeemed		141,600			18,803			692,177			–
Shareholder Servicing Fees Payable		51,151			9,155			81,195			2,342
Audit Fees Payable		15,884			15,884			15,884			15,884
Payable Due to Adviser		12,622			–			43,386			–
Trustees Fees Payable		5,337			5,337			5,337			5,337
Payable Due to Administrator		5,202			941			8,243			253
Transfer Agent Fees Payable		4,253			3,825			4,482			3,744
Chief Compliance Officer Fees Payable		1,537			281			2,436			74
Payable for Investment Securities Purchased		–			151,709			–			–
Other Accrued Expenses		16,703			3,018			26,163			1,630
Total Liabilities		254,289			208,953			879,303			29,264
Net Assets	$	224,127,852		$	39,940,670		$	354,956,896		$	10,961,148
^† Cost of Investments	$	239,137,818		$	41,242,365		$	393,752,171		$	10,162,720
Net Assets Consist of:
Paid-in Capital	$	243,455,802		$	41,430,509		$	396,869,591		$	12,026,515
Total Accumulated Loss		(19,327,950	)		(1,489,839	)		(41,912,695	)		(1,065,367	)
Net Assets	$	224,127,852		$	39,940,670		$	354,956,896		$	10,961,148

Outstanding Shares of Beneficial Interest (unlimited authorization - no par value)		23,737,358			4,049,531			39,042,954			961,894
Class I Shares Net Asset Value, Offering and Redemption Price Per Share	$	9.44		$	9.86		$	9.09		$	11.40

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, 2023

Statements of Operations

	US Equity Fund			International Equity Fund			Global Equity Fund			Tax-Managed Global Equity Fund
Investment Income:
Dividend Income	$	10,195,521		$	9,676,648		$	13,105,084		$	2,920,143
Less: Foreign Taxes Withheld		(1,166	)		(587,020	)		(456,851	)		–
Total Investment Income		10,194,355			9,089,628			12,648,233			2,920,143

Expenses:
Investment Advisory Fees		2,863,699			1,899,873			3,133,618			846,509
Shareholder Servicing Fees		627,120			328,186			600,804			148,086
Administration Fees		158,766			82,396			151,519			39,416
Trustees' Fees		21,927			21,927			21,927			21,927
Chief Compliance Officer Fees		21,485			11,189			20,518			5,377
Legal Fees		109,858			56,812			104,825			26,993
Custodian Fees		59,442			114,628			137,836			8,095
Printing Fees		37,641			28,184			37,459			8,885
Registration Fees		29,300			27,152			28,983			25,135
Transfer Agent Fees		29,009			26,113			28,675			24,181
Audit Fees		17,166			17,166			17,166			17,166
Insurance and Other Expenses		41,534			39,593			55,958			18,065

Total Expenses		4,016,947			2,653,219			4,339,288			1,189,835
Less:
Waiver of Investment Advisory Fees		(1,038,937	)		(884,312	)		(1,333,700	)		(507,904	)
Reimbursement by Investment Adviser		(122,104	)		(32,119	)		(227,722	)		(136,173	)
Advisory Waiver Recapture		–			22,573			–			–
Net Expenses		2,855,906			1,759,361			2,777,866			545,758

Net Investment Income		7,338,449			7,330,267			9,870,367			2,374,385

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

SYMMETRY PANORAMIC TRUST
YEAR ENDED AUGUST 31, 2023

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	$	8,346,488		$	(3,690,182	)	$	2,723,341		$	(1,166,025	)
Net Realized Gain (Loss) on Futures Contracts		(39,201	)		172,483			(34,214	)		–
Net Realized Loss on Foreign Currency Transactions		–			(89,601	)		(72,578	)		–
Net Realized Gain Received on Distributions from Registered Investment Companies		4,603,476			342,385			2,974,833			1,711,238
Net Realized Loss on Swap Contracts		(312,742	)		(297,937	)		(599,066	)		(371,733	)
Net Change in Unrealized Appreciation on Investments		32,156,472			22,858,844			32,303,982			12,101,443
Net Change in Unrealized Appreciation on Futures Contracts		119,527			45,564			122,645			–
Net Change in Unrealized Appreciation on Swap Contracts		333,679			402,192			478,169			384,665
Net Change in Unrealized Appreciation on Foreign Currency Transactions and Translation of other Assets and Liabilities Denominated in Foreign Currencies		–			40,321			36,577			–
Net Realized and Unrealized Gain		45,207,699			19,784,069			37,933,689			12,659,588
Net Increase in Net Assets Resulting from Operations	$	52,546,148		$	27,114,336		$	47,804,056		$	15,033,973

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, 2023

Statements of Operations

	US Fixed Income Fund			Municipal Fixed Income Fund			Global Fixed Income Fund			Alternatives Fund
Investment Income:
Dividend Income	$	6,053,066		$	720,041		$	8,856,037		$	2,318,932
Total Investment Income		6,053,066			720,041			8,856,037			2,318,932

Expenses:
Investment Advisory Fees		1,059,941			192,314			1,888,557			332,717
Shareholder Servicing Fees		285,649			46,076			435,821			29,723
Administration Fees		72,168			12,475			110,873			8,101
Trustees' Fees		21,927			21,927			21,927			21,927
Chief Compliance Officer Fees		9,715			1,690			14,960			1,067
Legal Fees		51,027			8,735			77,692			5,529
Registration Fees		30,263			22,854			27,940			35,259
Transfer Agent Fees		25,786			23,192			27,097			22,838
Printing Fees		21,322			5,116			25,751			5,643
Audit Fees		17,166			17,166			17,166			17,166
Custodian Fees		15,176			2,735			23,081			2,607
Insurance and Other Expenses		21,938			14,379			26,931			14,138

Total Expenses		1,632,078			368,659			2,697,796			496,715
Less:
Waiver of Investment Advisory Fees		(471,088	)		(90,019	)		(980,601	)		(255,341	)
Reimbursement by Investment Adviser		(197,914	)		(111,215	)		(159,780	)		(112,249	)
Net Expenses		963,076			167,425			1,557,415			129,125

Net Investment Income		5,089,990			552,616			7,298,622			2,189,807

Net Realized and Unrealized Gain (Loss) on Investments
Net Realized Loss		(2,413,835	)		(269,663	)		(2,594,911	)		(1,774,990	)
Net Change in Unrealized Appreciation (Depreciation)		(3,290,801	)		256,143			(5,965,917	)		205,115
Net Realized and Unrealized Loss		(5,704,636	)		(13,520	)		(8,560,828	)		(1,569,875	)
Net Increase (Decrease) in Net Assets Resulting from Operations	$	(614,646	)	$	539,096		$	(1,262,206	)	$	619,932

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, 2023			Year Ended August 31, 2022
Operations:
Net Investment Income	$	7,338,449		$	5,915,143
Net Realized Gain		12,598,021			15,858,401
Net Change in Unrealized Appreciation (Depreciation)		32,609,678			(73,618,963	)
Net Increase (Decrease) in Net Assets Resulting from Operations		52,546,148			(51,845,419	)

Distributions		(19,231,435	)		(41,595,804	)

Capital Share Transactions:
Class I Shares:
Issued		67,822,988			73,723,250
Reinvestment of Distributions		19,231,434			41,595,388
Redeemed		(114,774,872	)		(134,098,423	)
Net Class I Share Transactions		(27,720,450	)		(18,779,785	)
Net Decrease in Net Assets from Share Transactions		(27,720,450	)		(18,779,785	)
Total Increase (Decrease) in Net Assets		5,594,263			(112,221,008	)

Net Assets:
Beginning of Year		524,022,834			636,243,842
End of Year	$	529,617,097		$	524,022,834

Share Transactions:
Class I Shares:
Issued		5,363,487			5,374,229
Reinvestment of Distributions		1,572,441			2,916,337
Redeemed		(9,003,591	)		(9,520,501	)
Net Decrease in Shares Outstanding from Share Transactions		(2,067,663	)		(1,229,935	)

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

SYMMETRY PANORAMIC TRUST

Statements of Changes in Net Assets

	International Equity Fund
	Year Ended August 31, 2023			Year Ended August 31, 2022
Operations:
Net Investment Income	$	7,330,267		$	8,857,956
Net Realized Loss		(3,562,852	)		(1,667,450	)
Net Change in Unrealized Appreciation (Depreciation)		23,346,921			(65,868,761	)
Net Increase (Decrease) in Net Assets Resulting from Operations		27,114,336			(58,678,255	)

Distributions		(6,397,783	)		(7,382,351	)

Capital Share Transactions:
Class I Shares:
Issued		36,698,445			41,173,972
Reinvestment of Distributions		6,397,782			7,381,696
Redeemed		(56,430,612	)		(43,393,393	)
Net Class I Share Transactions		(13,334,385	)		5,162,275
Net Increase (Decrease) in Net Assets from Share Transactions		(13,334,385	)		5,162,275
Total Increase (Decrease) in Net Assets		7,382,168			(60,898,331	)

Net Assets:
Beginning of Year		264,784,660			325,682,991
End of Year	$	272,166,828		$	264,784,660

Share Transactions:
Class I Shares:
Issued		3,404,507			3,495,297
Reinvestment of Distributions		613,991			585,849
Redeemed		(5,214,799	)		(3,634,729	)
Net Increase (Decrease) in Shares Outstanding from Share Transactions		(1,196,301	)		446,417

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

SYMMETRY PANORAMIC TRUST

Statements of Changes in Net Assets

	Global Equity Fund
	Year Ended August 31, 2023			Year Ended August 31, 2022
Operations:
Net Investment Income	$	9,870,367		$	10,456,185
Net Realized Gain		4,992,316			9,529,589
Net Change in Unrealized Appreciation (Depreciation)		32,941,373			(92,401,067	)
Net Increase (Decrease) in Net Assets Resulting from Operations		47,804,056			(72,415,293	)

Distributions		(17,429,029	)		(28,308,288	)

Capital Share Transactions:
Class I Shares:
Issued		62,326,832			64,422,074
Reinvestment of Distributions		17,429,029			28,307,555
Redeemed		(110,018,877	)		(100,343,997	)
Net Class I Share Transactions		(30,263,016	)		(7,614,368	)
Net Decrease in Net Assets from Share Transactions		(30,263,016	)		(7,614,368	)
Total Increase (Decrease) in Net Assets		112,011			(108,337,949	)

Net Assets:
Beginning of Year		498,402,944			606,740,893
End of Year	$	498,514,955		$	498,402,944

Share Transactions:
Class I Shares:
Issued		5,225,995			4,967,378
Reinvestment of Distributions		1,510,249			2,066,454
Redeemed		(9,190,783	)		(7,591,026	)
Net Decrease in Shares Outstanding from Share Transactions		(2,454,539	)		(557,194	)

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

100

SYMMETRY PANORAMIC TRUST

Statements of Changes in Net Assets

	Tax-Managed Global Equity Fund
	Year Ended August 31, 2023			Year Ended August 31, 2022
Operations:
Net Investment Income	$	2,374,385		$	2,614,418
Net Realized Gain		173,480			887,097
Net Change in Unrealized Appreciation (Depreciation)		12,486,108			(21,367,749	)
Net Increase (Decrease) in Net Assets Resulting from Operations		15,033,973			(17,866,234	)

Distributions		(2,151,138	)		(2,015,323	)

Capital Share Transactions:
Class I Shares:
Issued		34,733,767			34,373,790
Reinvestment of Distributions		2,151,137			2,015,323
Redeemed		(32,379,075	)		(18,595,749	)
Net Class I Share Transactions		4,505,829			17,793,364
Net Increase in Net Assets from Share Transactions		4,505,829			17,793,364
Total Increase (Decrease) in Net Assets		17,388,664			(2,088,193	)

Net Assets:
Beginning of Year		121,582,056			123,670,249
End of Year	$	138,970,720		$	121,582,056

Share Transactions:
Class I Shares:
Issued		2,754,399			2,533,794
Reinvestment of Distributions		175,746			138,988
Redeemed		(2,542,328	)		(1,376,491	)
Net Increase in Shares Outstanding from Share Transactions		387,817			1,296,291

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

101

SYMMETRY PANORAMIC TRUST

Statements of Changes in Net Assets

	US Fixed Income Fund
	Year Ended August 31, 2023			Year Ended August 31, 2022
Operations:
Net Investment Income	$	5,089,990		$	3,160,704
Net Realized Loss		(2,413,835	)		(981,306	)
Net Change in Unrealized Depreciation		(3,290,801	)		(26,496,076	)
Net Decrease in Net Assets Resulting from Operations		(614,646	)		(24,316,678	)

Distributions		(5,090,220	)		(3,310,752	)

Capital Share Transactions:
Class I Shares:
Issued		46,864,599			82,933,629
Reinvestment of Distributions		5,089,799			3,309,761
Redeemed		(74,836,772	)		(64,828,411	)
Net Class I Share Transactions		(22,882,374	)		21,414,979
Net Increase (Decrease) in Net Assets from Share Transactions		(22,882,374	)		21,414,979
Total Decrease in Net Assets		(28,587,240	)		(6,212,451	)

Net Assets:
Beginning of Year		252,715,092			258,927,543
End of Year	$	224,127,852		$	252,715,092

Share Transactions:
Class I Shares:
Issued		4,923,441			8,160,493
Reinvestment of Distributions		536,361			326,392
Redeemed		(7,866,514	)		(6,416,600	)
Net Increase (Decrease) in Shares Outstanding from Share Transactions		(2,406,712	)		2,070,285

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

102

SYMMETRY PANORAMIC TRUST

Statements of Changes in Net Assets

	Municipal Fixed Income Fund
	Year Ended August 31, 2023			Year Ended August 31, 2022
Operations:
Net Investment Income	$	552,616		$	148,309
Net Realized Loss		(269,663	)		(38,627	)
Net Change in Unrealized Appreciation (Depreciation)		256,143			(1,591,198	)
Net Increase (Decrease) in Net Assets Resulting from Operations		539,096			(1,481,516	)

Distributions		(552,474	)		(148,461	)

Capital Share Transactions:
Class I Shares:
Issued		14,828,693			12,892,923
Reinvestment of Distributions		552,474			148,445
Redeemed		(15,979,172	)		(9,224,313	)
Net Class I Share Transactions		(598,005	)		3,817,055
Net Increase (Decrease) in Net Assets from Share Transactions		(598,005	)		3,817,055
Total Increase (Decrease) in Net Assets		(611,383	)		2,187,078

Net Assets:
Beginning of Year		40,552,053			38,364,975
End of Year	$	39,940,670		$	40,552,053

Share Transactions:
Class I Shares:
Issued		1,501,208			1,280,769
Reinvestment of Distributions		55,940			14,849
Redeemed		(1,617,613	)		(922,564	)
Net Increase (Decrease) in Shares Outstanding from Share Transactions		(60,465	)		373,054

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

103

SYMMETRY PANORAMIC TRUST

Statements of Changes in Net Assets

	Global Fixed Income Fund
	Year Ended August 31, 2023			Year Ended August 31, 2022
Operations:
Net Investment Income	$	7,298,622		$	7,897,009
Net Realized Loss		(2,594,911	)		(610,539	)
Net Change in Unrealized Depreciation		(5,965,917	)		(56,171,336	)
Net Decrease in Net Assets Resulting from Operations		(1,262,206	)		(48,884,866	)

Distributions		(7,299,595	)		(8,794,995	)

Capital Share Transactions:
Class I Shares:
Issued		58,510,649			82,888,271
Reinvestment of Distributions		7,299,528			8,794,378
Redeemed		(76,263,900	)		(63,065,011	)
Net Class I Share Transactions		(10,453,723	)		28,617,638
Net Increase (Decrease) in Net Assets from Share Transactions		(10,453,723	)		28,617,638
Total Decrease in Net Assets		(19,015,524	)		(29,062,223	)

Net Assets:
Beginning of Year		373,972,420			403,034,643
End of Year	$	354,956,896		$	373,972,420

Share Transactions:
Class I Shares:
Issued		6,403,132			8,191,913
Reinvestment of Distributions		802,728			860,003
Redeemed		(8,359,572	)		(6,322,378	)
Net Increase (Decrease) in Shares Outstanding from Share Transactions		(1,153,712	)		2,729,538

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

104

SYMMETRY PANORAMIC TRUST

Statements of Changes in Net Assets

	Alternatives Fund
	Year Ended August 31, 2023			Year Ended August 31, 2022
Operations:
Net Investment Income	$	2,189,807		$	9,466
Net Realized Loss		(1,774,990	)		(11,050	)
Net Change in Unrealized Appreciation		205,115			493,056
Net Increase in Net Assets Resulting from Operations		619,932			491,472

Distributions		(2,255,407	)		(30,464	)

Capital Share Transactions:
Class I Shares:
Issued		21,128,771			22,015,358
Reinvestment of Distributions		2,255,407			30,464
Redeemed		(33,901,575	)		(880,754	)
Net Class I Share Transactions		(10,517,397	)		21,165,068
Net Increase (Decrease) in Net Assets from Share Transactions		(10,517,397	)		21,165,068
Total Increase (Decrease) in Net Assets		(12,152,872	)		21,626,076

Net Assets:
Beginning of Year		23,114,020			1,487,944
End of Year	$	10,961,148		$	23,114,020

Share Transactions:
Class I Shares:
Issued		1,830,741			1,952,182
Reinvestment of Distributions		205,223			2,943
Redeemed		(3,093,180	)		(78,390	)
Net Increase (Decrease) in Shares Outstanding from Share Transactions		(1,057,216	)		1,876,735

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

105

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, 2023			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	$	12.65		$	14.91		$	11.07		$	10.58		$	10.00
Income from Operations:
Net Investment Income⁽¹⁾		0.18			0.14			0.12			0.12			0.11
Net Realized and Unrealized Gain (Loss)		1.09			(1.38	)		3.86			0.59			0.51
Total from Operations		1.27			(1.24	)		3.98			0.71			0.62
Dividends and Distributions:
Net Investment Income		(0.15	)		(0.11	)		(0.14	)		(0.12	)		(0.04	)
Net Realized Gain		(0.32	)		(0.91	)		—			(0.10	)		—
Total Dividends and Distributions		(0.47	)		(1.02	)		(0.14	)		(0.22	)		(0.04	)
Net Asset Value, End of Year/Period	$	13.45		$	12.65		$	14.91		$	11.07		$	10.58
Total Return^†		10.48	%		(9.04	)%		36.19	%		6.73	%		6.26	%
Ratios and Supplemental Data
Net Assets, End of Year/Period (Thousands)	$	529,617		$	524,023		$	636,244		$	556,161		$	506,766
Ratio of Expenses to Average Net Assets⁽²⁾		0.55	%		0.55	%		0.54	%^‡		0.48	%		0.48	%^**
Ratio of Expenses to Average Net Assets (Excluding Waivers)⁽²⁾		0.77	%		0.77	%		0.77	%		0.76	%		0.82	%^**
Ratio of Net Investment Income to Average Net Assets^{(2) (3)}		1.41	%		1.02	%		0.96	%		1.15	%		1.32	%^**
Portfolio Turnover Rate		35	%		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.

106

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, 2023			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	$	10.41		$	13.04		$	10.33		$	10.19		$	10.00
Income from Operations:
Net Investment Income⁽¹⁾		0.29			0.35			0.16			0.25			0.23
Net Realized and Unrealized Gain (Loss)		0.79			(2.68	)		2.69			0.22			0.06
Total from Operations		1.08			(2.33	)		2.85			0.47			0.29
Dividends and Distributions:
Net Investment Income		(0.26	)		(0.30	)		(0.14	)		(0.33	)		(0.10	)
Total Dividends and Distributions		(0.26	)		(0.30	)		(0.14	)		(0.33	)		(0.10	)
Net Asset Value, End of Year/Period	$	11.23		$	10.41		$	13.04		$	10.33		$	10.19
Total Return^†		10.52	%		(18.28	)%		27.78	%		4.38	%		2.93	%
Ratios and Supplemental Data
Net Assets, End of Year/Period (Thousands)	$	272,167		$	264,785		$	325,683		$	291,001		$	264,900
Ratio of Expenses to Average Net Assets⁽²⁾		0.65	%		0.65	%		0.65	%^‡		0.65	%		0.65	%^**
Ratio of Expenses to Average Net Assets (Excluding Waivers)⁽²⁾		0.98	%		0.97	%		0.96	%		1.00	%		1.04	%^**
Ratio of Net Investment Income to Average Net Assets^{(2) (3)}		2.70	%		2.96	%		1.31	%		2.51	%		2.72	%^**
Portfolio Turnover Rate		40	%		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.

107

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, 2023			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	$	11.78		$	14.15		$	10.80		$	10.43		$	10.00
Income from Operations:
Net Investment Income⁽¹⁾		0.24			0.25			0.14			0.17			0.16
Net Realized and Unrealized Gain (Loss)		0.90			(1.95	)		3.35			0.46			0.33
Total from Operations		1.14			(1.70	)		3.49			0.63			0.49
Dividends and Distributions:
Net Investment Income		(0.20	)		(0.20	)		(0.14	)		(0.21	)		(0.06	)
Net Realized Gain		(0.21	)		(0.47	)		—			(0.05	)		—
Total Dividends and Distributions		(0.41	)		(0.67	)		(0.14	)		(0.26	)		(0.06	)
Net Asset Value, End of Year/Period	$	12.51		$	11.78		$	14.15		$	10.80		$	10.43
Total Return^†		10.09	%		(12.63	)%		32.59	%		5.97	%		4.99	%
Ratios and Supplemental Data
Net Assets, End of Year/Period (Thousands)	$	498,515		$	498,403		$	606,741		$	543,288		$	507,434
Ratio of Expenses to Average Net Assets⁽²⁾		0.56	%		0.56	%		0.56	%^‡		0.52	%		0.52	%^**
Ratio of Expenses to Average Net Assets (Excluding Waivers)⁽²⁾		0.89	%		0.87	%		0.87	%		0.88	%		0.93	%^**
Ratio of Net Investment Income to Average Net Assets^{(2) (3)}		1.98	%		1.88	%		1.13	%		1.70	%		1.92	%^**
Portfolio Turnover Rate		35	%		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.

108

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, 2023			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	$	12.33		$	14.44		$	11.05		$	10.49		$	10.00
Income from Operations:
Net Investment Income⁽¹⁾		0.23			0.28			0.16			0.13			0.08
Net Realized and Unrealized Gain (Loss)		1.22			(2.16	)		3.38			0.57			0.44
Total from Operations		1.45			(1.88	)		3.54			0.70			0.52
Dividends and Distributions:
Net Investment Income		(0.22	)		(0.23	)		(0.15	)		(0.14	)		(0.03	)
Total Dividends and Distributions		(0.22	)		(0.23	)		(0.15	)		(0.14	)		(0.03	)
Net Asset Value, End of Year/Period	$	13.56		$	12.33		$	14.44		$	11.05		$	10.49
Total Return^†		11.91	%		(13.28	)%		32.28	%		6.64	%		5.20	%
Ratios and Supplemental Data
Net Assets, End of Year/Period (Thousands)	$	138,971		$	121,582		$	123,670		$	84,458		$	27,235
Ratio of Expenses to Average Net Assets^{(2) (4)}		0.42	%		0.42	%		0.42	%		0.42	%		0.42	%^**
Ratio of Expenses to Average Net Assets (Excluding Waivers)⁽²⁾		0.91	%		0.91	%		0.92	%		0.99	%		1.72	%^**
Ratio of Net Investment Income to Average Net Assets^{(2) (3) (4)}		1.82	%		2.08	%		1.21	%		1.26	%		0.98	%^**
Portfolio Turnover Rate		12	%		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.
(4)	The interest expense has a 0.00% effect on the ratio of expenses to average net assets.
*	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.

109

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, 2023			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	$	9.67		$	10.76		$	10.93		$	10.61		$	10.00
Income from Operations:
Net Investment Income⁽¹⁾		0.21			0.13			0.14			0.20			0.18
Net Realized and Unrealized Gain (Loss)		(0.23	)		(1.09	)		(0.15	)		0.33			0.59
Total from Operations		(0.02	)		(0.96	)		(0.01	)		0.53			0.77
Dividends and Distributions:
Net Investment Income		(0.21	)		(0.12	)		(0.14	)		(0.20	)		(0.16	)
Net Realized Gain		—			(0.01	)		(0.02	)		(0.01	)		—
Total Dividends and Distributions		(0.21	)		(0.13	)		(0.16	)		(0.21	)		(0.16	)
Net Asset Value, End of Year/Period	$	9.44		$	9.67		$	10.76		$	10.93		$	10.61
Total Return^†		(0.22	)%		(8.97	)%		(0.13	)%		5.02	%		7.75	%
Ratios and Supplemental Data
Net Assets, End of Year/Period (Thousands)	$	224,128		$	252,715		$	258,928		$	257,446		$	201,574
Ratio of Expenses to Average Net Assets⁽²⁾		0.41	%		0.41	%		0.41	%		0.41	%		0.41	%^**
Ratio of Expenses to Average Net Assets (Excluding Waivers)⁽²⁾		0.69	%		0.68	%		0.69	%		0.68	%		0.75	%^**
Ratio of Net Investment Income to Average Net Assets^{(2) (3)}		2.16	%		1.23	%		1.27	%		1.84	%		2.15	%^**
Portfolio Turnover Rate		2	%		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.

110

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, 2023			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	$	9.87		$	10.27		$	10.30		$	10.23		$	10.00
Income from Operations:
Net Investment Income⁽¹⁾		0.13			0.04			0.04			0.08			0.09
Net Realized and Unrealized Gain (Loss)		(0.01	)		(0.40	)		(0.03	)		0.07			0.22
Total from Operations		0.12			(0.36	)		0.01			0.15			0.31
Dividends and Distributions:
Net Investment Income		(0.13	)		(0.04	)		(0.04	)		(0.08	)		(0.08	)
Total Dividends and Distributions		(0.13	)		(0.04	)		(0.04	)		(0.08	)		(0.08	)
Net Asset Value, End of Year/Period	$	9.86		$	9.87		$	10.27		$	10.30		$	10.23
Total Return^†		1.25	%		(3.54	)%		0.10	%		1.51	%		3.10	%
Ratios and Supplemental Data
Net Assets, End of Year/Period (Thousands)	$	39,941		$	40,552		$	38,365		$	26,837		$	8,643
Ratio of Expenses to Average Net Assets^{(2) (4)}		0.41	%		0.41	%		0.41	%		0.41	%		0.41	%^**
Ratio of Expenses to Average Net Assets (Excluding Waivers)⁽²⁾		0.90	%		0.88	%		0.94	%		1.06	%		3.23	%^**
Ratio of Net Investment Income to Average Net Assets^{(2) (3) (4)}		1.35	%		0.37	%		0.39	%		0.82	%		1.10	%^**
Portfolio Turnover Rate		18	%		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.
(4)	The interest expense has a 0.00% effect on the ratio of expenses to average net assets.
*	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 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, 2023			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	$	9.30		$	10.76		$	10.88		$	10.82		$	10.00
Income from Operations:
Net Investment Income⁽¹⁾		0.18			0.20			0.10			0.24			0.23
Net Realized and Unrealized Gain (Loss)		(0.21	)		(1.44	)		(0.09	)		0.09			0.81
Total from Operations		(0.03	)		(1.24	)		0.01			0.33			1.04
Dividends and Distributions:
Net Investment Income		(0.18	)		(0.20	)		(0.10	)		(0.25	)		(0.22	)
Net Realized Gain		—			(0.02	)		(0.03	)		(0.02	)		—
Total Dividends and Distributions		(0.18	)		(0.22	)		(0.13	)		(0.27	)		(0.22	)
Net Asset Value, End of Year/Period	$	9.09		$	9.30		$	10.76		$	10.88		$	10.82
Total Return^†		(0.26	)%		(11.66	)%		0.06	%		3.16	%		10.58	%
Ratios and Supplemental Data
Net Assets, End of Year/Period (Thousands)	$	354,957		$	373,972		$	403,035		$	402,557		$	368,586
Ratio of Expenses to Average Net Assets⁽²⁾		0.43	%		0.43	%		0.43	%		0.43	%		0.43	%^**
Ratio of Expenses to Average Net Assets (Excluding Waivers)⁽²⁾		0.74	%		0.74	%		0.74	%		0.74	%		0.79	%^**
Ratio of Net Investment Income to Average Net Assets^{(2) (3)}		2.01	%		2.00	%		0.93	%		2.26	%		2.75	%^**
Portfolio Turnover Rate		2	%		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.

112

SYMMETRY PANORAMIC ALTERNATIVES FUND

FINANCIAL HIGHLIGHTS

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

Class I Shares	Year Ended August 31, 2023			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	$	11.45		$	10.45		$	9.41		$	10.00		$	10.00
Income from Operations:
Net Investment Income⁽¹⁾		0.96			0.01			0.20			0.16			0.03
Net Realized and Unrealized Gain (Loss)		(0.33	)		1.20			0.84			(0.57	)		0.20
Total from Operations		0.63			1.21			1.04			(0.41	)		0.23
Dividends and Distributions:
Net Investment Income		(0.68	)		(0.21	)		—			(0.17	)		(0.23	)
Return of Capital		—			—			—			(0.01	)		—
Total Dividends and Distributions		(0.68	)		(0.21	)		—			(0.18	)		(0.23	)
Net Asset Value, End of Year/Period	$	11.40		$	11.45		$	10.45		$	9.41		$	10.00
Total Return^†		5.76	%		11.84	%		11.05	%		(4.14	)%		2.39	%
Ratios and Supplemental Data
Net Assets, End of Year/Period (Thousands)	$	10,961		$	23,114		$	1,488		$	929		$	935
Ratio of Expenses to Average Net Assets^{(2) (4)}		0.50	%		0.50	%		0.50	%		0.50	%		0.50	%^**
Ratio of Expenses to Average Net Assets (Excluding Waivers)⁽²⁾		1.93	%		2.72	%		7.71	%		9.46	%		31.15	%^**
Ratio of Net Investment Income to Average Net Assets^{(2) (3) (4)}		8.49	%		0.13	%		1.94	%		1.67	%		0.33	%^**
Portfolio Turnover Rate		100	%		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.
(4)	The interest expense has a 0.00% effect on the ratio of expenses to average net assets.
*	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 (the “1940 Act”), 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, Symmetry Panoramic Global Equity Fund and Symmetry Panoramic International 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 Financial Services-Investment Companies, 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 increases and decreases in net assets resulting from operations 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 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

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prices for foreign securities are reported in local currency and converted to U.S. dollars using currency exchange rates.

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.

In December 2020, the SEC adopted Rule 2a-5 under the 1940 Act, establishing requirements to determine fair value in good faith for purposes of the 1940 Act. The rule permits fund boards to designate a fund’s investment adviser to perform fair value determinations, subject to board oversight and certain other conditions. The rule also defines when market quotations are “readily available” for purposes of the 1940 Act and requires a fund to fair value a portfolio investment when a market quotation is not readily available. The SEC also adopted new Rule 31a-4 under the 1940 Act, which sets forth recordkeeping requirements associated with fair value determinations. The compliance date for Rule 2a-5 and Rule 31a-4 was September 8, 2022.

Effective September 8, 2022, and pursuant to the requirements of Rule 2a-5, the Trust’s Board of Trustees (the “Board” or “Trustees”) designated the Adviser as the Board’s valuation designee (the “Valuation Designee”) to perform fair value determinations for the Funds through a Valuation Committee (the “Committee”) established by the Adviser and approved a new Adviser and Trust Valuation and Error Correction Policy for the Funds. Prior to September 8, 2022, fair value determinations were performed in accordance with the Trust’s Valuation and Error Correction Policy established by the Trust’s Board and were implemented through a Valuation 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. Generally, when fair valuing a security held by a Fund, the Adviser will take into account all reasonably available information that may be relevant to a particular valuation.

Futures contracts that are traded on an exchange are valued at the end of day settlement value reported from the exchange or board of trade on which the contract is primarily traded.

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Swap agreements and other derivatives are generally valued daily based upon quotations from market makers or by a pricing service in accordance with the valuation procedures established by the Valuation Designee.

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, among others, a single issuer or to an entire market sector. If the Valuation Designee 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, the security will be valued at its fair market value by the Valuation Designee, subject to Board oversight.

The Funds use Intercontinental Exchange Data Pricing & Reference Data, LLC. (“ICE”) as a third party fair valuation vendor. ICE provides a fair value factor which is applied to the local market close price for foreign securities held by the Funds based on certain factors and methodologies (involving, 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 Valuation Designee. The Valuation Designee 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 Valuation Designee is exceeded on a specific day, the Funds value the non-U.S. securities that exceed the applicable “confidence interval” based upon the fair value factors 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 Valuation Designee and Committee holds a meeting to consider the matter and coordinates with SEI Investments Global Funds Services (the “Administrator”).

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 factors 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

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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 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.

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As of and during the year ended August 31, 2023, 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, 2023, 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 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 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.

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, 2023. 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

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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, 2023.

For the year ended August 31, 2023, the average monthly notional amount of futures contracts held were as follows:

Symmetry Panoramic US Equity Fund

Symmetry Panoramic International Equity Fund

Symmetry Panoramic Global Equity Fund

Average Monthly

Notional Balance Long

1,291,645

5,801,145

5,498,494

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

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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 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. During the year ended August 31, 2023, 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”). As of August 31, 2023, the Funds no longer held the swap agreements.

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

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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, 2023, the monthly average balances of swap contracts held by the Funds was as follows:

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

2,224,998

1,187,674

2,234,437

1,047,480

For the year ended August 31, 2023, 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

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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.

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

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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 U.S. 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 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 ended August 31, 2023, the following interfund lending facilities occurred:

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Borrowing Fund

Lending Fund

Amount Borrowed

/Lent

Rate

(%)

Date Borrowed

Date Repaid

Symmetry Panoramic Alternatives Fund

Symmetry
Panoramic U.S. Fixed Income Fund

125,000

3.825

9/7/2022

9/8/2022

Symmetry Panoramic Alternatives Fund

Symmetry
Panoramic U.S. Fixed Income Fund

775,000

5.280

11/8/2022

11/9/2022

Symmetry
Panoramic Municipal Fixed Income Fund

Symmetry
Panoramic Global Fixed Income Fund

300,000

5.325

11/16/2022

11/17/2022

Symmetry Panoramic Alternatives Fund

Symmetry Panoramic U.S. Equity Fund

1,610,000

6.365

3/29/2023

3/30/2023

Symmetry Panoramic Alternatives Fund

Symmetry
Panoramic Global Fixed Income Fund

486,000

6.380

4/5/2023

4/6/2023

Symmetry
Panoramic Municipal Fixed Income Fund

Symmetry
Panoramic U.S. Fixed Income Fund

435,000

6.335

4/18/2023

4/19/2023

Symmetry
Panoramic Tax-Managed Global Equity Fund

Symmetry
Panoramic Global Fixed Income Fund

1,565,000

6.335

4/18/2023

4/19/2023

Symmetry Panoramic Alternatives Fund

Symmetry
Panoramic Global Fixed Income Fund

45,500

6.590

5/15/2023

5/17/2023

Symmetry Panoramic Alternatives Fund

Symmetry
Panoramic Global Fixed Income Fund

37,000

6.595

5/16/2023

5/17/2023

Symmetry Panoramic Alternatives Fund

Symmetry
Panoramic Global Fixed Income Fund

36,700

6.585

5/26/2023

5/30/2023

The amounts disclosed above represent maximum and average borrowings. There were no outstanding loan balances as of August 31, 2023.

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 Shareholder Services LLC.

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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:

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, 2023, the Funds were charged as follows for these services:

Fund	Administration Fee
Symmetry Panoramic US Equity Fund	$	158,766
Symmetry Panoramic International Equity Fund		82,396
Symmetry Panoramic Global Equity Fund		151,519
Symmetry Panoramic Tax-Managed Global Equity Fund		39,416
Symmetry Panoramic US Fixed Income Fund		72,168
Symmetry Panoramic Municipal Fixed Income Fund		12,475
Symmetry Panoramic Global Fixed Income Fund		110,873
Symmetry Panoramic Alternatives Fund		8,101

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 and Subadvisory Agreements:

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, the Adviser manages and

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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 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 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. 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, 2023 (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, 2023 (“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 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, 2023, the Adviser recaptured previously waived fees of $22,573 for the Symmetry Panoramic International Equity Fund.

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As of August 31, 2023, the following amounts of waivers/reimbursements are subject to recoupment:

	Amount expiring in 2024		Amount expiring in 2025		Amount expiring in 2026
Symmetry Panoramic US Equity Fund	$	108,126	$	90,197	$	122,104
Symmetry Panoramic International Equity Fund		22,628		12,718		32,119
Symmetry Panoramic Global Equity Fund		247,654		229,596		227,722
Symmetry Panoramic Tax-Managed Global Equity Fund		113,110		130,780		136,173
Symmetry Panoramic US Fixed Income Fund		201,285		191,500		197,914
Symmetry Panoramic Municipal Fixed Income Fund		97,750		103,204		111,215
Symmetry Panoramic Global Fixed Income Fund		152,426		151,535		159,780
Symmetry Panoramic Alternatives Fund		85,801		90,656		112,249

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, 2023, were as follows:

		Purchases		Sales and Maturities
Symmetry Panoramic US Equity Fund	$	179,119,214	$	210,357,752
Symmetry Panoramic International Equity Fund		105,205,902		114,772,098
Symmetry Panoramic Global Equity Fund		171,730,027		201,414,505
Symmetry Panoramic Tax-Managed Global Equity Fund		23,059,783		15,519,096
Symmetry Panoramic US Fixed Income Fund		5,824,660		28,190,478

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		Purchases		Sales and Maturities
Symmetry Panoramic Municipal Fixed Income Fund	$	7,204,133	$	7,364,268
Symmetry Panoramic Global Fixed Income Fund		8,273,262		17,392,726
Symmetry Panoramic Alternatives Fund		24,452,316		34,622,940

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 distributions in excess. The following permanent differences were credited or charged to Paid-in Capital or Distributable Earnings as of August 31, 2023:

		Distributable Earnings				Paid in Capital
Symmetry Panoramic Alternatives Fund		$	259			$	(259	)

The tax character of dividends and distributions declared during the fiscal years ended August 31, 2023 and 2022 were as follows:

	Ordinary Income		Long-Term Capital Gain		Tax Exempt Income		Total
Symmetry Panoramic US Equity Fund
2023	$	6,205,201	$	13,026,234	$	—	$	19,231,435
2022		29,786,484		11,809,320		—		41,595,804
Symmetry Panoramic International Equity Fund
2023		6,397,783		—		—		6,397,783
2022		7,382,351		—		—		7,382,351
Symmetry Panoramic Global Equity Fund
2023		8,575,235		8,853,794		—		17,429,029
2022		25,758,968		2,549,320		—		28,308,288
Symmetry Panoramic Tax-Managed Global Equity Fund
2023		2,151,138		—		—		2,151,138
2022		2,015,323		—		—		2,015,323
Symmetry Panoramic US Fixed Income Fund
2023		5,090,220		—		—		5,090,220
2022		3,147,380		163,372		—		3,310,752

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	Ordinary Income		Long-Term Capital Gain		Tax Exempt Income		Total
Symmetry Panoramic Municipal Fixed Income Fund
2023	$	12,820	$	—	$	539,654	$	552,474
2022		—		—		148,461		148,461
Symmetry Panoramic Global Fixed Income Fund
2023		7,299,595		—		—		7,299,595
2022		7,996,330		798,665		—		8,794,995
Symmetry Panoramic Alternatives Fund
2023		2,255,407		—		—		2,255,407
2022		30,464		—		—		30,464

As of August 31, 2023, 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	$	4,727,812		$	5,445,162		$	6,956,089		$	1,136,625
Undistributed Long-Term Capital Gain		12,339,324			–			5,089,275			156,762
Post-October Losses		–			(80,492	)		–			–
Capital Loss Carryforwards		–			(16,134,597	)		–			–
Unrealized Appreciation		160,680,331			47,491,811			120,201,065			25,713,155
Other Temporary Differences		(1	)		(1	)		(4	)		1
Total Distributable Earnings	$	177,747,466		$	36,721,883		$	132,246,425		$	27,006,543

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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	$	13,321		$	4		$	17,458		$	–
Undistributed Tax-Exempt Income		–			456			–			–
Post-October Losses		(1,944,895	)		(138,197	)		(2,097,330	)		(1,738,884	)
Late-Year Loss Deferral		–			–			–			(60,506	)
Capital Loss Carryforwards		(799,186	)		(44,046	)		(787,335	)		(75,883	)
Unrealized Appreciation/(Depreciation)		(16,597,189	)		(1,308,059	)		(39,045,487	)		809,905
Other Temporary Differences		(1	)		3			(1	)		1
Total (Accumulated Losses)	$	(19,327,950	)	$	(1,489,839	)	$	(41,912,695	)	$	(1,065,367	)

Post-October losses represent losses realized on investment transactions from November 1, 2022 through August 31, 2023, 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, 2023 through August 31, 2023 and specified losses realized on investment transactions from November 1, 2022 through August 31, 2023.

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 $80,492, $1,944,895, $138,197, $2,097,330 and $1,738,884, respectively. The funds elect to treat each as having arisen in the following fiscal year.

During the year ended September 30, 2023, the Symmetry Panoramic Tax-Managed Global Equity Fund utilized capital loss carryforwards of $533,003 to offset capital gains.

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	$	13,778,317	$	2,356,280	$	16,134,597
Symmetry Panoramic US Fixed Income Fund		598,030		201,156		799,186
Symmetry Panoramic Municipal Fixed Income Fund		44,046		—		44,046
Symmetry Panoramic Global Fixed Income Fund		787,335		—		787,335
Symmetry Panoramic Alternatives Fund		68,009		7,874		75,883

For federal income tax purposes, the cost of securities owned at August 31, 2023, 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

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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.

The Federal tax cost and aggregate gross unrealized appreciation and depreciation for the investments held by the Funds at August 31, 2023, were as follows:

	Federal Tax Cost		Aggregate Gross Unrealized Appreciation		Aggregate Gross Unrealized Depreciation			Net Unrealized Appreciation (Depreciation)
Symmetry Panoramic US Equity Fund	$	369,563,789	$	162,232,732	$	(1,552,401	)	$	160,680,331
Symmetry Panoramic International Equity Fund		224,333,893		51,277,008		(3,785,197	)		47,491,811
Symmetry Panoramic Global Equity Fund		378,369,392		125,691,833		(5,490,768	)		120,201,065
Symmetry Panoramic Tax-Managed Global Equity Fund		116,174,430		26,358,804		(645,649	)		25,713,155
Symmetry Panoramic US Fixed Income Fund		239,803,127		—		(16,597,189	)		(16,597,189	)
Symmetry Panoramic Municipal Fixed Income Fund		41,379,305		—		(1,308,059	)		(1,308,059	)
Symmetry Panoramic Global Fixed Income Fund		394,164,830		—		(39,045,487	)		(39,045,487	)
Symmetry Panoramic Alternatives Fund		10,164,138		809,905		—			809,905

8. 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.

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.

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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 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.

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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”), are 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.

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

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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. 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

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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 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.

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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, 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

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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 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

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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 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.

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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, 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

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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 capital market risk may affect the value of individual instruments in which the Fund invests. Factors such as domestic and foreign economic growth and market conditions, interest rate levels, and political events 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 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

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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 COVID-19 pandemic and efforts to contain its spread have resulted, and may continue to result, in significant disruptions to business operations, supply chains and customer activity, widespread business closures and layoffs, travel restrictions, international, national and local border closings, extended quarantines and stay-at-home orders, event cancellations, service cancellations, reductions and other changes, labor shortages, and significant challenges in healthcare service preparation and delivery, as well as general concern, uncertainty, and social unrest. Global financial markets have experienced, and may continue to experience, significant volatility and severe losses, and the pandemic has resulted in an economic slowdown, which may continue for an extended period of time. The pandemic has accelerated trends toward working remotely and shopping on-line, which may negatively affect the value of office and commercial real estate and the value of investments in other companies and industries that historically have relied on higher concentrations of people working in traditional office and commercial environments. The travel, hospitality, and public transit industries, among others, may suffer long-term negative effects from the pandemic and resulting changes to public behavior. In addition, companies and industries may lose the services of key personnel on a temporary or long-term basis due to illness or other reasons. Although promising COVID-19 vaccines have been released and many global economies have begun to re-open, some countries, including countries with limited access to vaccines, have struggled to control the spread of the virus and re-open their economies. The prevalence of new COVID-19 variants, a failure to achieve herd immunity, or other unforeseen circumstances may result in the continued spread of the virus throughout unvaccinated populations or a resurgence in infections among vaccinated individuals.

Public health crises caused by pandemics, such as the COVID-19 pandemic, may exacerbate other pre-existing political, social, economic, and financial risks. 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. Other outbreaks of infectious diseases or other public health issues that may arise in the future may have similar or worse effects. The impact of infectious diseases may be greater in countries that do not

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move effectively to control them or that have limited access to vaccines, which may occur because of a lack of health care or economic resources or for political or other reasons.

Governments, including the U.S. federal government, and central banks around the world have taken extraordinary and unprecedented actions to support local and global economies and the financial markets and may continue to do so, but the ultimate impact of these efforts is uncertain, and they may not be successful. Governments’ efforts to limit potential negative economic effects of the COVID-19 pandemic may be altered, delayed, or eliminated at inopportune times for political, policy or other reasons. Central banks may increase their short-term policy rates or begin phasing out, or “tapering,” accommodative monetary policy facilities in the future. The timing, coordination, magnitude and effect of such policy changes on various markets are uncertain, and such changes in monetary policy may adversely affect the value of a Fund’s investments.

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, 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 were implemented or considered in response to the COVID-19 pandemic. 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.

Global economies and financial markets are highly interconnected, which increases the possibility 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, including the current contentious domestic political environment and changes

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in the U.S. presidential administration and Congress, may affect investor and consumer confidence and may adversely impact financial markets and the broader economy, perhaps suddenly and to a significant degree. The United States has developed increasingly strained relations with a number of foreign countries. If relations with certain countries deteriorate, it could adversely affect U.S. issuers as well as non-U.S. issuers that rely on the United States for trade. Financial markets in the United States and China have been sensitive to the outlook for resolving ongoing U.S.-China trade disputes.

On January 31, 2020, the United Kingdom (“UK”) officially withdrew from the EU, commonly referred to as “Brexit.” Following a transition period, the UK’s post-Brexit trade agreement with the EU went into effect on January 1, 2021. The full impact of Brexit and the nature of the future relationship between the UK and the EU remains uncertain. The effects of Brexit on the UK and EU economies and the broader global economy could be significant, resulting in negative impacts, such as business and trade disruptions, increased volatility and illiquidity, and potentially lower economic growth of markets in the UK, EU and globally, which could negatively impact the value of a Fund’s investments.

High public debt in the U.S. and other countries creates ongoing systemic and market risks and policymaking uncertainty, and there has been a significant increase in the amount of debt due to the economic effects of COVID-19 pandemic and ensuing economic relief and public health measures Economic, political and other developments may result in a further increase in the amount of public debt, including in the United States. The long-term consequences of high public debt are not known.

Interest rates have been unusually low in recent years in the United States and abroad, and central banks 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 increase or other significant policy changes. However, over the last year, due to concerns regarding rising inflation in many sectors of the U.S. and global economy, the U.S. and many foreign governments and monetary authorities have raised interest rates and implemented other policy initiatives that are intended to contain the impacts of rising inflation. Rising interest rates may present a particularly greater risk than has historically been the case due to the current period of relatively low rates and the effect of government fiscal and monetary policy initiatives and potential market reaction to those initiatives, or their alteration or cessation. Inflation risk is the uncertainty over the future real value (after inflation) of an investment. A Fund’s investments may not keep pace with inflation, and the value of an investment in a Fund may be eroded over time by inflation.

Extremely low or negative interest rates may persist or 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

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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 persist or 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.

Funds and their advisers, as well as many of the companies in which they invest, are subject to regulation by the federal government. There is a potential for materially increased regulation in the future, as well as higher taxes or taxes restructured to incentivize different activities. These changes, should they occur, may impose added costs on a Fund and its service providers, and affect the businesses of various portfolio companies, in ways that cannot necessarily be foreseen at the present time.

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 have devastated, and in the future 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. The current U.S. administration may focus regulatory and public works projects around climate change concerns. Regulatory changes and divestment movements tied to concerns about climate change could adversely affect the value of certain land and the viability of industries whose activities or products are seen as accelerating climate change. Losses related to climate change could adversely affect corporate borrowers and mortgage lenders, the value of mortgage-backed securities, the bonds of municipalities that depend on tax revenues and tourist dollars generated by such properties, 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

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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. 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

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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 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

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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.

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.

9. Concentration of Shareholders:

As of August 31, 2023, the percentage of total shares outstanding held by shareholders of the Funds, which are comprised of individual shareholders and omnibus accounts that are

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held on behalf of various individual shareholders owning 10% or greater of the aggregate total shares outstanding for each Fund, were as follows:

	No. of Shareholders		% Ownership
Symmetry Panoramic US Equity Fund		2	84%
Symmetry Panoramic International Equity Fund		2	85%
Symmetry Panoramic Global Equity Fund		2	85%
Symmetry Panoramic Tax-Managed Global Equity Fund		2	73%
Symmetry Panoramic US Fixed Income Fund		3	90%
Symmetry Panoramic Municipal Fixed Income Fund		4	90%
Symmetry Panoramic Global Fixed Income Fund		2	84%
Symmetry Panoramic Alternatives Fund		4	91%

10. Indemnifications:

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, 2023, except the following:

As part of the overall strategic plan by the Adviser (“Symmetry”) regarding the Funds advised by Symmetry, Symmetry is proposing to transition the Funds (the “Transition”) to the SEI Advisors’ Inner Circle mutual fund platform (the “SEI Platform”). In order to effect the Transition, the shareholders of the Funds, as of an October 16, 2023 record date, were asked to elect six new members of the Board of Trustees of the Trust (the “Proposal”). If elected, these six new Trustees (the “Nominee Trustees”) would replace the current members of the Board of Trustees of the Trust. Shareholders of all Funds will vote together as a single class on the Proposal with respect to each of the following six Nominee Trustees: William M. Doran; Jon C. Hunt; Thomas P. Lemke; Nichelle Maynard-Elliott; Jay C. Nadel; and Randall S. Yanker. The Proposal was approved by the Trust’s current Board of Trustees on October 24, 2023, and a Definitive Proxy Statement on Schedule 14A to solicit the approval of the Proposal by the Shareholders of the Funds was filed with the Securities & Exchange Commission on October 25, 2023. The Special Meeting of the Shareholders of the Funds is scheduled to be held on December 26, 2023, and, if the Proposal is approved by the shareholders of the Funds at this Special Meeting of the Shareholders, then the election of the six new Trustees will be effective immediately thereafter on December 26, 2023.

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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, 2023, 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 five years or 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, 2023, 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 five years or 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, 2023, 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.

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Report of Independent Registered Public Accounting Firm

COHEN & COMPANY, LTD.

Cleveland, Ohio

October 30, 2023

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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 and President

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, 2023:

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); Professor, Department of Finance, Fairfield University School of Business (2005-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-Henderson Index and Calculation Services. Dr. McDermott earned a BS (Engineering) from the US Coast Guard Academy, MBA (Finance) from Columbia University, and PhD. (Finance) from the University of Connecticut.	8	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.	8	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

John McDermott

(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

Consultant, Chief Investment Strategist, Symmetry Partners, LLC (2005-present); Professor, Department of Finance, Fairfield University School of Business (2005-present).	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 Fund Services (2008- present).	8	None.
Associate Director (January 2020-present); Senior Research Associate, Symmetry Partners, LLC (2017-2020).	8	None.
Chief Compliance Officer, Symmetry Partners, LLC (December 2019-present); Chief Compliance Officer, Apella Capital, LLC (June 2018-present); Director, Chenery Compliance Group (2017-2018)	8	None.
Senior Counsel, Apex Fund Services (2019-present); Counsel, Atlantic Fund Services (2014-2019).	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, 2023 to August 31, 2023.

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 3/1/23		Ending Account Value 8/31/23		Annualized Expense Ratios			Expenses Paid During Period*
Symmetry Panoramic US Equity Fund
Class I Shares
Actual Fund Return	$	1,000.00	$	1,070.00		0.55	%	$	2.87
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	$	1,043.70		0.65	%	$	3.35
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	$	1,058.40		0.56	%	$	2.91
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	$	1,066.00		0.42	%	$	2.19
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	$	1,012.20		0.41	%	$	2.08
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	$	1,008.80		0.41	%	$	2.08
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	$	1,016.60		0.43	%	$	2.19
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	$	1,013.30		0.50	%	$	2.54
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

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 Fund	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 25, 2023 (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) the 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 US Equity Fund, Symmetry Panoramic International Equity Fund, and Symmetry Panoramic Global Equity Fund (the “AQR Sub-Advised Funds”); and

(3) the 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 US 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, and the Board’s annual review of each investment sub-advisory agreement with AQR and 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, extent, and quality of services provided by Symmetry and the

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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 Board also received oral presentations at the Meeting from representatives of Symmetry, the Sub-Advisers and Broadridge on the materials and other information that each had provided to the Board.

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

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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 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. The Board noted that Symmetry has continued to commit significant resources toward the fund complex and has made substantial investments to improve the services offered by Symmetry, which benefit Fund shareholders.

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

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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.

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 to the Funds from remote work environments, as necessary, 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”) for various periods ended December 31, 2022. The Broadridge reports provided to the Board described the methodology used to select the Performance Group and the Broadridge representatives discussed that methodology with the Trustees at the Meeting. The Board noted that Broadridge ranks funds against their Performance Group and Performance Universe 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 total return performance of the Funds was variously above, at and below the relevant Performance Group and Performance Universe medians for the time periods measured. 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 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

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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 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 and the Symmetry Panoramic Municipal Fixed Income Fund were toward 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, the Symmetry Panoramic US Equity Fund, and the Symmetry Panoramic US Fixed Income 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. With respect to the Symmetry Panoramic Alternatives Fund, the Board took into account Symmetry’s explanation that the Fund’s strategy is unique and that its Expense Group and Expense Universe do not necessarily reflect appropriate comparisons, and, further, that the Fund has not yet experienced the same levels of inflows as the other Funds. The Board further took into account 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

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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, 2023. 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 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-

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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.

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

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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, 2023 tax year end, this notice is for informational purposes only. For shareholders with an August 31, 2023 tax year end, please consult your tax advisor as to the pertinence of this notice. For the fiscal period ended August 31, 2023, 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%		67.73%		32.27%		0.00%		100.00%
Symmetry Panoramic International Equity Fund		0.00%		0.00%		100.00%		0.00%		0.00%
Symmetry Panoramic Global Equity Fund		0.00%		50.80%		49.20%		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%		0.00%		100.00%		0.00%		100.00%
Symmetry Panoramic Municipal Fixed Income Fund		0.00%		0.00%		2.32%		97.68%		100.00%
Symmetry Panoramic Global Fixed Income Fund		0.00%		0.00%		100.00%		0.00%		100.00%
Symmetry Panoramic Alternatives Fund		0.00%		0.00%		100%		0.00%		100%

	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		63.24%		66.03%		0.00%		0.00%		0.00%
Symmetry Panoramic International Equity Fund		0.19%		72.62%		0.00%		0.00%		0.00%
Symmetry Panoramic Global Equity Fund		30.56%		71.67%		0.00%		0.00%		0.00%
Symmetry Panoramic Tax-Managed Global Equity Fund		36.57%		77.85%		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%		0.00%
Symmetry Panoramic Alternatives Fund		0.14%		0.85%		0.00%		0.00%		0.00%

The Funds intend to pass through foreign tax credit to shareholders. For the fiscal year ended August 31, 2023, 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 $7,054,953, $2,474,252 and $2,163,934, 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 $394,295, $99,867 and $47,392, 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, 2023. Complete information will be computed and reported in conjunction with your 2023 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-001-0300

(b)

Not applicable.

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:

		2023			2022
		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	$110,000	N/A	N/A	$101,500	N/A	N/A
(b)	Audit-Related Fees	N/A	N/A	N/A	N/A	N/A	N/A
(c)	Tax Fees	$28,750	N/A	N/A	$26,750	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 must pre-approve all audit and non-audit services provided by the Trust’s independent registered public accounting firm (the "Auditor") relating to the operations or financial reporting of the funds. The Trust’s Audit Committee has adopted, and the Board of Trustees has ratified, an Audit and Non-Audit Services Pre-Approval Policy (the “Policy”), which sets forth the Audit Committee’s considerations of audit-related and non-audit services provided by the Auditor. As a general matter, the Policy requires that the Audit Committee shall pre-approve all audit services and permissible non-audit services rendered to a fund or to the Adviser or its Affiliated Persons that provide ongoing services to the Funds if such engagement relates to the operations and financial reporting of the Trust.

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

	2023	2022
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 2023 and 2022 were $28,750 and $26,750, 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/ John McDermott
	John McDermott
	President
Date: November 8, 2023

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/ John McDermott
	John McDermott
	President
Date: November 8, 2023

By	/s/ Andrew Metzger
	Andrew Metzger
	Treasurer & Principal Financial Officer
Date: November 8, 2023

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