NPORT-EX 2 ultrashort.htm

CrossingBridge Ultra-Short Duration Fund
 
Schedule of Investments
 
June 30, 2024 (Unaudited)
 
   
CORPORATE BONDS - 58.5%
 
Par
   
Value
 
Administrative and Support and Waste Management and Remediation Services - 2.5%
 
Expedia Group, Inc., 6.25%, 05/01/2025 (a)
   
$
3,261,000
   
$
3,268,744
 
                   
Finance and Insurance - 3.6%
 
American Express Co., 2.50%, 07/30/2024
     
1,032,000
     
1,032,000
 
BAT Capital Corp., 3.22%, 08/15/2024
     
651,000
     
648,584
 
Icahn Enterprises LP / Icahn Enterprises Finance Corp., 6.25%, 05/15/2026
     
2,142,000
     
2,127,021
 
Novedo Holding AB, 10.27% (3 Month Stockholm Interbank Offered Rates + 6.50%), 11/26/2024
SEK
   
7,500,000
     
698,769
 
       
4,506,374
 
                   
Information – 12.0%
 
Cadence Design Systems, Inc., 4.38%, 10/15/2024
     
637,000
     
634,052
 
Calligo UK Ltd., 10.72% (3 mo. EURIBOR + 7.00%), 12/29/2028
EUR
   
414,077
     
272,725
 
Cox Communications, Inc., 3.15%, 08/15/2024 (a)
     
1,090,000
     
1,085,874
 
Discovery Communications LLC, 3.90%, 11/15/2024
     
2,065,000
     
2,049,187
 
Fiserv, Inc., 2.75%, 07/01/2024
     
1,580,000
     
1,580,000
 
Lithium Midco II Ltd., 10.47% (3 mo. EURIBOR + 6.75%), 07/09/2025
EUR
   
1,417,000
     
1,517,537
 
OpNet S.p.A.
 
10.89% (3 mo. EURIBOR + 7.00%), 02/09/2026 (a)
EUR
   
2,108,000
     
2,259,246
 
10.91% (3 mo. EURIBOR + 7.00%), 02/09/2026
EUR
   
1,000,000
     
1,068,273
 
PayPal Holdings, Inc., 1.65%, 06/01/2025
     
482,000
     
465,233
 
TD SYNNEX Corp., 1.25%, 08/09/2024
     
3,793,000
     
3,772,881
 
Warnermedia Holdings, Inc., 3.79%, 03/15/2025
     
545,000
     
537,162
 
       
15,242,170
 
                   
Management of Companies and Enterprises - 1.0%
 
Genpact Luxembourg Sarl, 3.38%, 12/01/2024
     
1,327,000
     
1,310,423
 
                   
Manufacturing - 21.7%
 
Cannabist Co. Holdings, Inc., 9.50%, 02/03/2026
     
2,016,000
     
1,703,520
 
Dell International LLC / EMC Corp., 4.00%, 07/15/2024
     
4,976,000
     
4,972,611
 
Elkem ASA, 6.26% (Norway Interbank Offered Rate Fixing 3 Month + 1.55%), 08/31/2028
NOK
   
25,000,000
     
2,369,455
 
Mangrove Luxco III Sarl, 7.78% (9.00% PIK), 10/09/2025
EUR
   
3,738,713
     
3,996,719
 
Microchip Technology, Inc., 0.98%, 09/01/2024
     
4,005,000
     
3,971,330
 
Mondelez International Holdings Netherlands BV, 0.75%, 09/24/2024 (a)
     
200,000
     
197,678
 
Qorvo, Inc., 1.75%, 12/15/2024
     
1,700,000
     
1,666,890
 
Revvity, Inc., 0.85%, 09/15/2024
     
1,106,000
     
1,093,760
 
SC Johnson & Son, Inc., 3.35%, 09/30/2024 (a)
     
3,120,000
     
3,099,415
 
Sonoco Products Co., 1.80%, 02/01/2025
     
1,452,000
     
1,417,486
 
Tapestry, Inc., 7.05%, 11/27/2025
     
2,000,000
     
2,034,023
 
Tyson Foods, Inc., 3.95%, 08/15/2024
     
1,000,000
     
997,456
 
       
27,520,343
 
                   
Mining, Quarrying, and Oil and Gas Extraction - 1.8%
 
CrownRock LP / CrownRock Finance, Inc., 5.63%, 10/15/2025 (a)
     
1,604,000
     
1,601,274
 
Mime Petroleum AS, 9.75%, 09/17/2026
     
730,553
     
706,810
 
       
2,308,084
 
                   
Professional, Scientific, and Technical Services - 4.2%
 
Getty Images, Inc., 9.75%, 03/01/2027 (a)
     
827,000
     
829,450
 
Infor, Inc., 1.75%, 07/15/2025 (a)
     
1,165,000
     
1,117,368
 
VMware LLC, 1.00%, 08/15/2024
     
3,395,000
     
3,374,432
 
       
5,321,250
 
                   
Real Estate and Rental and Leasing - 2.4%
 
Crown Castle, Inc., 3.20%, 09/01/2024
     
2,500,000
     
2,487,565
 
REX - Real Estate Exchange, Inc., 6.00%, 03/15/2025 (a)
     
562,499
     
556,706
 
       
3,044,271
 
                   
Retail Trade - 1.8%
 
CVS Health Corp., 2.63%, 08/15/2024
     
2,320,000
     
2,310,766
 
                   
Utilities - 4.7%
 
NextEra Energy Capital Holdings, Inc., 4.26%, 09/01/2024
     
3,315,000
     
3,304,586
 
Vistra Operations Co. LLC, 3.55%, 07/15/2024 (a)
     
2,615,000
     
2,612,148
 
       
5,916,734
 
                   
Wholesale Trade - 2.8%
 
Arrow Electronics, Inc., 3.25%, 09/08/2024
     
3,625,000
     
3,604,411
 
TOTAL CORPORATE BONDS (Cost $74,918,075)
     
74,353,570
 
                   
MORTGAGE-BACKED SECURITIES - 8.7%
 
Par
   
Value
 
Finance and Insurance - 8.7%
 
BX Trust
 
Series 2021-SOAR, Class B, 6.31% (1 mo. Term SOFR + 0.98%), 06/15/2038 (a)
     
1,152,033
     
1,137,804
 
Series 2021-VINO, Class A, 6.10% (1 mo. Term SOFR + 0.77%), 05/15/2038 (a)
     
500,340
     
494,487
 
Series 2021-VOLT, Class C, 6.54% (1 mo. Term SOFR + 1.21%), 09/15/2036 (a)
     
2,424,000
     
2,376,696
 
Series 2024-KING, Class A, 6.87% (1 mo. Term SOFR + 1.54%), 05/15/2034 (a)
     
2,216,000
     
2,220,918
 
CAMB Commercial Mortgage Trust
 
Series 2019-LIFE, Class C, 7.08% (1 mo. Term SOFR + 1.75%), 12/15/2037 (a)
     
930,000
     
929,141
 
Series 2019-LIFE, Class D, 7.38% (1 mo. Term SOFR + 2.05%), 12/15/2037 (a)
     
250,000
     
250,249
 
Cold Storage Trust, Series 2020-ICE5, Class D, 7.54% (1 mo. Term SOFR + 2.21%), 11/15/2037 (a)
     
1,058,681
     
1,055,550
 
Life Mortgage Trust US, Series 2021-BMR, Class A, 6.14% (1 mo. Term SOFR + 0.81%), 03/15/2038 (a)
     
442,337
     
434,664
 
Merit 2020, Series 2022-MHIL, Class A, 6.14% (1 mo. Term SOFR + 0.81%), 01/15/2027 (a)
     
2,227,984
     
2,199,159
 
TOTAL MORTGAGE-BACKED SECURITIES (Cost $11,022,737)
     
11,098,668
 
                   
BANK LOANS - 7.7%
 
Par
   
Value
 
Arts, Entertainment, and Recreation - 2.6%
 
NAI Entertainment Holdings LLC, 10.96% (1 mo. Term SOFR + 5.00%), 05/08/2025
     
3,268,432
     
3,269,249
 
                   
Information - 1.4%
 
Clear Channel International First Lien, 7.50%, 08/15/2027
     
1,783,000
     
1,742,883
 
                   
Manufacturing - 1.5%
 
Forum Energy Technologies, Inc., 11.00%, 12/08/2026 (b)
     
1,980,000
     
1,900,800
 
                   
Real Estate and Rental and Leasing - 2.2%
 
Micromont, 8.00%, 11/15/2026 (b)
     
2,800,000
     
2,800,000
 
TOTAL BANK LOANS (Cost $9,691,416)
     
9,712,932
 
                   
ASSET-BACKED SECURITIES - 7.0%
 
Par
   
Value
 
Finance and Insurance - 4.8%
 
Alterna Funding LLC, Series 2024-1A, Class A, 6.26%, 05/16/2039 (a)
     
1,105,000
     
1,107,481
 
Coinstar Funding LLC, Series 2017-1A, Class A2, 5.22%, 04/25/2047 (a)
     
2,763,960
     
2,420,275
 
HTS Fund LLC, Series 2021-1, Class A, 1.41%, 08/25/2036 (a)
     
1,628,278
     
1,294,760
 
Lendingpoint Asset Securitization Trust, Series 2022-B, Class A, 4.77%, 10/15/2029 (a)
     
74,925
     
74,635
 
RAM 2024-1 LLC, Series 2024-1, Class A, 6.67%, 02/15/2039 (a)
     
1,158,300
     
1,154,608
 
       
6,051,759
 
                   
Transportation and Warehousing - 1.1%
 
LAD Auto Receivables Trust
 
Series 2023-1A, Class A2, 5.68%, 10/15/2026 (a)
     
243,056
     
243,025
 
Series 2023-3A, Class A2, 6.09%, 06/15/2026 (a)
     
1,167,838
     
1,169,781
 
       
1,412,806
 
                   
Wholesale Trade - 1.1%
 
PVOne LLC, Series 2023-1A, Class A, 7.25%, 07/16/2035 (a)
     
1,465,992
     
1,453,594
 
TOTAL ASSET-BACKED SECURITIES (Cost $9,120,600)
     
8,918,159
 
                   
CONVERTIBLE BONDS - 6.4%
 
Par
   
Value
 
Information - 1.8%
 
Leafly Holdings, Inc., 8.00%, 01/31/2025 (b)
     
1,089,000
     
925,650
 
Liberty TripAdvisor Holdings, Inc., 0.50%, 06/30/2051 (a)
     
1,500,000
     
1,407,474
 
       
2,333,124
 
                   
Manufacturing - 2.1%
 
Forum Energy Technologies, Inc., 9.00% (includes 9.00% PIK), 08/04/2025
     
2,637,966
     
2,636,647
 
                   
Professional, Scientific, and Technical Services - 2.5%
 
BlackLine, Inc., 0.13%, 08/01/2024
     
3,153,000
     
3,143,541
 
TOTAL CONVERTIBLE BONDS (Cost $8,271,477)
     
8,113,312
 
                   
WARRANTS - 0.0%(c)
   
Contracts
   
Value
 
Information - 0.0%(c)
         
Leafly Holdings, Inc., Expires 11/07/2026, Exercise Price $11.50 (d)
     
5,553
     
86
 
TOTAL WARRANTS (Cost $0)
     
86
 
                   
SPECIAL PURPOSE ACQUISITION COMPANIES (SPACS) - 0.0%(c)
   
Shares
   
Value
 
Berenson Acquisition Corp. Founder Shares (b)(d)
     
1,827
     
0
 
TOTAL SPECIAL PURPOSE ACQUISITION COMPANIES (SPACS) (Cost $7)
     
0
 
                   
SHORT-TERM INVESTMENTS - 10.2%
               
Commercial Paper - 8.8%
   
Par
         
Consumer Staples — 3.0%
                 
Conagra Brands, Inc., 5.60%, 07/02/2024 (e)
     
1,349,000
     
1,348,153
 
Dollarama, Inc., 5.71%, 07/11/2024 (e)
     
2,534,000
     
2,528,902
 
               
3,877,055
 
                   
Energy — 1.2%
                 
Targa Resources Corp., 6.11%, 07/23/2024 (e)
     
1,502,000
     
1,495,815
 
                   
Manufacturing — 2.9%
                 
VF Corp., 6.57%, 07/24/2024 (e)
     
1,025,000
     
1,020,972
 
Whirlpool Corp., 5.76%, 07/12/2024 (e)
     
2,713,000
     
2,706,788
 
               
3,727,760
 
                   
Materials — 1.7%
                 
FMC Corp., 6.16%, 07/19/2024 (e)
     
2,112,000
     
2,104,488
 
Total Commercial Paper (Cost $11,209,895)
             
11,205,118
 
                   
Money Market Funds - 1.4%
   
Shares
         
First American Treasury Obligations Fund - Class X, 5.20% (f)
     
1,776,443
     
1,776,443
 
Total Money Market Funds (Cost $1,776,443)
             
1,776,443
 
TOTAL SHORT-TERM INVESTMENTS (Cost $12,986,338)
     
12,981,561
 
                   
TOTAL INVESTMENTS - 98.5% (Cost $126,010,650)
     
125,178,288
 
Other Assets in Excess of Liabilities - 1.5%
     
1,842,088
 
TOTAL NET ASSETS - 100.0%
           
$
127,020,376
 
           

Percentages are stated as a percent of net assets.
 
   
Par amount is in U.S.Dollar unless otherwise indicated.
 

ASA - Advanced Subscription Agreement
PIK - Payment in Kind
SOFR - Secured Overnight Financing Rate
 
EUR - Euro
NOK - Norwegian Krone
SEK - Swedish Krona

(a)
Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of June 30, 2024, the value of these securities total $38,052,204 or 30.0% of the Fund’s net assets.
(b)
Fair value determined using significant unobservable inputs in accordance with procedures established by and under the supervision of the Adviser, acting as Valuation Designee. These securities represented $5,626,450 or 4.4% of net assets as of June 30, 2024.
(c)
Represents less than 0.05% of net assets.
(d)
Non-income producing security.
(e)
The rate shown is the effective yield as of June 30, 2024.
(f)
The rate shown represents the 7-day effective yield as of June 30, 2024.

CrossingBridge Ultra-Short Duration Fund
Schedule of Forward Currency Contracts
June 30, 2024 (Unaudited)

Settlement Date
 
Currency Purchased
 
Currency Sold
 
Counterparty
 
Unrealized
Appreciation
(Depreciation)
 
                           
07/15/2024
 
USD
   
9,280,196
 
EUR
 
8,570,000
 
U.S. Bancorp Investments, Inc.
 
$
94,666
 
07/15/2024
 
USD
   
2,413,731
 
NOK
 
25,370,000
 
U.S. Bancorp Investments, Inc.
   
36,516
 
07/15/2024
 
USD
   
712,458
 
SEK
 
7,350,000
 
U.S. Bancorp Investments, Inc.
   
18,404
 
Total Unrealized Appreciation (Depreciation)
                        $
149,586
 
                 
EUR - Euro
           
NOK - Norwegian Krone
           
SEK - Swedish Krona
           
USD - United States Dollar
           

Organization
       
Trust for Professional Managers (the “Trust”) was organized as a Delaware statutory trust under a Declaration of Trust dated May 29, 2001. The Trust is registered
under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The CrossingBridge Funds (the
“Funds”) are comprised of the CrossingBridge Low Duration High Yield Fund, the CrossingBridge Responsible Credit Fund, the CrossingBridge Ultra-Short Duration
Fund and the RiverPark Strategic Income Fund (collectively, the “Mutual Funds”) and the CrossingBridge Pre-Merger SPAC ETF (the “ETF”), each representing a
distinct diversified series with its own investment objective and policies within the Trust.  The investment objective of the CrossingBridge Low Duration High Yield
Fund is to seek high current income and capital appreciation consistent with the preservation of capital. The investment objective of the CrossingBridge Responsible
Credit Fund is to seek high current income and capital appreciation consistent with the preservation of capital. The investment objective of the CrossingBridge
Ultra-Short Duration Fund is to offer a higher yield than cash instruments while maintaining a low duration. The investment objective of the RiverPark Strategic
Income Fund is seek high current income and capital appreciation with the preservation of capital.  The CrossingBridge Low Duration High Yield Fund commenced
investment operations on February 1, 2018. The Fund has registered both an Investor Class and Institutional Class of shares. During the fiscal quarter ended
December 31, 2023, only the Institutional Class was operational. Both the CrossingBridge Responsible Credit Fund and CrossingBridge Ultra-Short Duration Fund
commenced investment operations on June 30, 2021. Both Funds registered only an Institutional Class of shares.  The RiverPark Strategic Income Fund commenced
investment operations on September 30, 2013.  From commencement date through May 12, 2023, the RiverPark Strategic Income was a series of the RiverPark Funds
Trust.  On May 13, 2023, the Fund reorganized into the Trust.  The Fund has registered and currently offers both an Institutional Class and Retail Class of shares. The
investment objective of the CrossingBridge Pre-Merger SPAC ETF is to provide total returns consistent with the preservation of capital. The ETF commenced
investment operations on September 20, 2021. Costs incurred by the Funds in connection with the organization, registration and the initial public offering of shares
were paid by CrossingBridge Advisors, LLC (“the Adviser”), the Funds’ investment adviser. The Trust may issue an unlimited number of shares of beneficial interest
at $0.001 par value. The Funds are investment companies and accordingly follow the investment company accounting and reporting guidance of the Financial
Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946 “Financial Services – Investment Companies.”
 
         
Significant Accounting Policies
       
The following is a summary of significant accounting policies consistently followed by the Fund in the preparation of the financial statements. These policies are in
conformity with generally accepted accounting principles in the United States of America (“GAAP”).
   
         
Investment Valuation
       
Each security owned by the Fund that is listed on a securities exchange, including Special Purpose Acquisition Companies ("SPACs"), is valued at its last sale price on that
exchange on the date as of which assets are valued. Bank loans are valued at prices supplied by an approved independent pricing service (“Pricing Service”), if available,
and otherwise will be valued at the most recent bid quotations or evaluated prices, as applicable, based on quotations or prices obtained from one or more broker-dealers
known to follow the issue.
       
         
If the security is listed on more than one exchange, the Fund will use the price of the exchange that the Fund generally considers to be the principal exchange on
which the security is traded. Portfolio securities listed on the NASDAQ Stock Market, LLC (“NASDAQ”) will be valued at the NASDAQ Official Closing Price, which may
not necessarily represent the last sale price. If there has been no sale on such exchange or on NASDAQ on such day, the security is valued at the mean between the
most recent bid and asked prices on such day or the security shall be valued at the latest sales price on the “composite market” for the day such security is being
valued. The composite market is defined as a consolidation of the trade information provided by national securities and foreign exchanges and over-the-counter
markets as published by a Pricing Service.
       
         
Foreign securities will be priced in their local currencies as of the close of their primary exchange or market or as of the time the Fund calculates its NAV, whichever
is earlier. Foreign securities, currencies and other assets denominated in foreign currencies are then translated into U.S. dollars at the exchange rate of such
 
currencies against the U.S. dollar, as provided by an approved Pricing Service or reporting agency. All assets denominated in foreign currencies will be converted
into U.S. dollars using the applicable currency exchange rates as of the close of the New York Stock Exchange (“NYSE”), generally 4:00 p.m. Eastern Time.
 
         
Debt securities, including corporate bonds, bank loans, commercial paper, and short-term debt instruments having a maturity of 60 days or less, are valued at the
mean in accordance with prices supplied by an approved Pricing Service. Pricing Services may use various valuation methodologies such as the mean between the
bid and the asked prices, matrix pricing and other analytical pricing models as well as market transactions and dealer quotations. If a price is not available from a
Pricing Service, the most recent quotation obtained from one or more broker-dealers known to follow the issue will be obtained. Quotations will be valued at the
mean between the bid and the offer. Any discount or premium is accreted or amortized using constant yield method over the life of the security.
 
         
Money market funds are valued at cost. If cost does not represent current market value the securities will be priced at fair value.
 
         
SPAC Founders Shares, received as part of the initial public offering process, will be valued initially in line with the publicly traded warrants, which typically have no value
prior to the warrants being separated from the SPAC common shares. Upon a de-SPAC transaction, the valuation of the Founders Shares may be updated to reflect
more current circumstances and inputs, including the value of the publicly traded warrants or the value of the publicly traded common shares, and may include a
discount to reflect any restrictions associated with the Founders Shares.
     
         
Redeemable securities issued by open-end, registered investment companies are valued at the NAVs of such companies for purchase and/or redemption orders
placed on that day. All exchange-traded funds are valued at the last reported sale price on the exchange on which the security is principally traded.
 
 
If market quotations are not readily available, a security or other asset will be valued at its fair value in accordance with Rule 2a-5 of the 1940 Act as determined under the
Adviser’s fair value pricing procedures, subject to oversight by the Board of Trustees. These fair value pricing procedures will also be used to price a security when
corporate events, events in the securities market and/or world events cause the Adviser to believe that a security’s last sale price may not reflect its actual fair market value.
The intended effect of using fair value pricing procedures is to ensure that the Fund is accurately priced. The Board of Trustees will regularly evaluate whether the Fund’s
fair value pricing procedures continue to be appropriate in light of the specific circumstances of the Fund and the quality of prices obtained through the application of such
procedures by the Adviser.
       
 
FASB Accounting Standards Codification, “Fair Value Measurements and Disclosures” Topic 820 (“ASC 820”), establishes an authoritative definition of fair value and
sets out a hierarchy for measuring fair value. ASC 820 requires an entity to evaluate certain factors to determine whether there has been a significant decrease in
volume and level of activity for the security such that recent transactions and quoted prices may not be determinative of fair value and further analysis and
 
adjustment may be necessary to estimate fair value. ASC 820 also requires enhanced disclosure regarding the inputs and valuation techniques used to measure fair
value in those instances as well as expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below:
         
Level 1 – Quoted prices in active markets for identical securities.
     
Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
 
Level 3 – Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
 
         
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
 
         
The following is a summary of the inputs used to value the Funds investments carried at fair value as of June 30, 2024:
   

CrossingBridge Ultra-Short Duration Fund
 
Level 1
   
Level 2
   
Level 3
   
Total
 
Assets(1):
                       
   Corporate Bonds
 
$
-
   
$
74,353,570
   
$
-
   
$
74,353,570
 
Mortgage-Backed Securities
   
-
     
11,098,668
     
-
     
11,098,668
 
   Bank Loans
   
-
     
5,012,132
     
4,700,800
     
9,712,932
 
   Asset-Backed Securities
   
-
     
8,918,159
     
-
     
8,918,159
 
   Convertible Bonds
   
-
     
7,187,662
     
925,650
     
8,113,312
 
   Warrants
   
86
     
-
     
-
     
86
 
Special Purpose Acquisition Companies
   
-
     
-
     
-
     
-
 
   Short-Term Investments
   
1,776,443
     
11,205,118
     
-
     
12,981,561
 
Total Assets
 
$
1,776,529
   
$
117,775,309
   
$
5,626,450
   
$
125,178,288
 
                                 
Other Financial Instruments(2):
                               
   Forward Currency Exchange Contracts
 
$
-
   
$
149,586
   
$
-
   
$
149,586
 
Total Other Financial Instruments
 
$
-
   
$
149,586
   
$
-
   
$
149,586
 
                                 

(1) See the Fund's Schedule of Investments for industry classifications.
                         
(2) Other financial instruments are forward currency exchange contracts not included in the Schedule of Investments, which are reflected at the net unrealized
 
    appreciation (depreciation) on the instrument.
                               
                                 
The following is a reconciliation of Level 3 assets in the Funds for which significant unobservable inputs were used to determine fair value:
         

CrossingBridge Ultra-Short Duration Fund
                 
   
Bank Loans
   
Convertible Bonds
   
Special Purpose
Acquisition
Companies
 
Beginning Balance - October 1, 2023
 
$
-
   
$
925,650
   
$
-
 
Purchases
   
4,737,925
     
-
     
-
 
Sales
   
-
     
-
     
-
 
Accretion/Amorization
   
2,793
     
-
     
-
 
Realized gains (losses)
   
-
     
-
     
-
 
Change in unrealized appreciation (depreciation)
   
(39,918
)
   
-
     
-
 
Transfer in/(out) of Level 3
   
-
     
-
     
-
 
Ending Balance - June 30, 2024
 
$
4,700,800
   
$
925,650
   
$
-
 

The following table represents additional information about valuation methodologies and inputs used for investments that are measured at fair value and
 
categorized within Level 3 as of June 30, 2024:
                       

CrossingBridge Ultra-Short Duration Fund
               
Description
 
Fair Value June 30, 2024
 
Valuation Methodologies
Unobservable Input
 
Range/Weighted
Average Unobservable
Input
 
Bank Loans
 
$
1,900,800
 
Vendor Pricing
Broker Quotes
 
$96 - 97.875
 
Bank Loans
 
$
2,800,000
 
Vendor Pricing
Broker Quotes
 
$100
 
Convertible Bonds
 
$
925,650
 
Liquidation analysis
Yield to maturity
 
21.60%

Special Purpose Acquisition Companies*
 
$
-
 
Market comparable
Market price of similar asset
 
$0
 
                     
* Table presents information for one security, which has been valued at $0.00 throughout the period.