CrossingBridge Responsible Credit Fund
|
|||||||||
Schedule of Investments
|
|||||||||
June 30, 2024 (Unaudited)
|
|||||||||
CORPORATE BONDS - 44.1%
|
Par
|
Value
|
|||||||
Construction - 0.5%
|
|||||||||
Five Point Operating Co. LP / Five Point Capital Corp., 10.50%, 01/15/2028 (a)(b)
|
$
|
175,474
|
$
|
180,052
|
|||||
Finance and Insurance - 8.3%
|
|||||||||
Esmaeilzadeh Holding AB, 11.40% (3 Month Stockholm Interbank Offered Rates + 7.50%),
01/26/2025
|
SEK
|
5,000,000
|
469,860
|
||||||
Icahn Enterprises LP / Icahn Enterprises Finance Corp., 9.75%, 01/15/2029 (a)
|
546,000
|
566,340
|
|||||||
Novedo Holding AB, 10.27% (3 Month Stockholm Interbank Offered Rates + 6.50%), 11/26/2024
|
SEK
|
2,500,000
|
232,923
|
||||||
Stockwik Forvaltning AB, 11.72% (3 Month Stockholm Interbank Offered Rates + 8.00%),
03/20/2026
|
SEK
|
8,750,000
|
837,933
|
||||||
StoneX Group, Inc., 7.88%, 03/01/2031 (a)
|
827,000
|
853,650
|
|||||||
2,960,706
|
|||||||||
Health Care and Social Assistance - 1.7%
|
|||||||||
Orexo AB, 10.22% (3 Month Stockholm Interbank Offered Rates + 6.50%), 03/28/2028
|
SEK
|
6,250,000
|
604,736
|
||||||
Information - 15.3%
|
|||||||||
Cabonline Group Holding AB
|
|||||||||
14.00%, 03/19/2026
|
SEK
|
6,292,000
|
619,700
|
||||||
14.00%, 03/19/2026
|
SEK
|
3,364,000
|
321,325
|
||||||
Calligo UK Ltd., 10.72% (3 mo. EURIBOR + 7.00%), 12/29/2028
|
EUR
|
103,520
|
68,182
|
||||||
Go North Group AB
|
|||||||||
0.00%, 02/09/2026
|
22,611
|
12,436
|
|||||||
11.12% (SOFR + 5.76%), 02/09/2026
|
320,394
|
272,335
|
|||||||
15.12%, 02/09/2026
|
162,585
|
89,422
|
|||||||
15.00%, 02/02/2028 (c)
|
SEK
|
222,749
|
0
|
||||||
INNOVATE Corp., 8.50%, 02/01/2026 (a)
|
460,000
|
347,300
|
|||||||
Inteno Group AB, 11.27% (3 mo. EURIBOR + 7.50%), 09/06/2026
|
EUR
|
500,000
|
423,025
|
||||||
Lithium Midco II Ltd., 10.47% (3 mo. EURIBOR + 6.75%), 07/09/2025
|
EUR
|
401,000
|
429,451
|
||||||
OpNet S.p.A.
|
|||||||||
10.89% (3 mo. EURIBOR + 7.00%), 02/09/2026 (a)
|
EUR
|
553,000
|
592,677
|
||||||
10.91% (3 mo. EURIBOR + 7.00%), 02/09/2026
|
EUR
|
1,000,000
|
1,068,273
|
||||||
Warnermedia Holdings, Inc., 6.41%, 03/15/2026
|
900,000
|
900,037
|
|||||||
Ziff Davis, Inc., 4.63%, 10/15/2030 (a)
|
378,000
|
342,170
|
|||||||
5,486,333
|
|||||||||
Manufacturing - 10.4%
|
|||||||||
Infrabuild Australia Pty Ltd., 14.50%, 11/15/2028 (a)
|
1,048,000
|
1,084,785
|
|||||||
Mangrove Luxco III Sarl, 7.78% (9.00% PIK), 10/09/2025
|
EUR
|
2,148,038
|
2,296,272
|
||||||
Secop Group Holding GmbH, 12.12% (3 mo. EURIBOR + 8.40%), 12/29/2026
|
EUR
|
150,000
|
164,257
|
||||||
SLR Group GmbH, 10.89% (3 mo. EURIBOR + 7.00%), 10/09/2027
|
EUR
|
163,000
|
179,006
|
||||||
3,724,320
|
|||||||||
Mining, Quarrying, and Oil and Gas Extraction - 1.1%
|
|||||||||
Tacora Resources, Inc., 13.00%, 09/30/2024 (a)(c)
|
757,525
|
378,762
|
|||||||
Professional, Scientific, and Technical Services - 0.8%
|
|||||||||
Getty Images, Inc., 9.75%, 03/01/2027 (a)
|
290,000
|
290,859
|
|||||||
Transportation and Warehousing – 6.0%
|
|||||||||
Uber Technologies, Inc., 8.00%, 11/01/2026 (a)
|
1,489,000
|
1,503,313
|
|||||||
XPO, Inc., 6.25%, 06/01/2028 (a)
|
650,000
|
654,502
|
|||||||
2,157,815
|
|||||||||
TOTAL CORPORATE BONDS (Cost
$16,260,433)
|
15,783,583
|
||||||||
BANK LOANS - 26.3%
|
Par
|
Value
|
|||||||
Arts, Entertainment, and Recreation - 2.8%
|
|||||||||
NAI Entertainment Holdings LLC, 10.96% (1 mo. Term SOFR + 5.00%), 05/08/2025
|
994,605
|
994,853
|
|||||||
Information - 4.5%
|
|||||||||
CBS Radio, 0.00%, 11/18/2024
|
163,000
|
78,240
|
|||||||
Cengage Learning, Inc. First Lien, 9.54% (6 mo. Term SOFR + 4.75%), 07/14/2026
|
506,000
|
508,057
|
|||||||
Clear Channel International First Lien, 7.50%, 08/15/2027
|
537,000
|
524,918
|
|||||||
Lions Gate Capital Holdings LLC First Lien, 7.69% (1 mo. Term SOFR + 2.25%), 03/24/2025
|
205,893
|
205,944
|
|||||||
Magnite, Inc., 9.84% (1 mo. Term SOFR + 4.50%), 02/06/2031
|
286,000
|
287,371
|
|||||||
1,604,530
|
|||||||||
Manufacturing - 14.2%
|
|||||||||
Chobani LLC, 8.71% (1 mo. Term SOFR + 3.50%), 10/23/2027
|
493,606
|
495,919
|
|||||||
Chobani LLC First Lien, 9.08% (1 mo. Term SOFR + 3.75%), 10/25/2027
|
682,570
|
686,515
|
|||||||
Elevate Textiles, Inc., 13.95% (3 mo. Term SOFR + 8.65%), 09/30/2027
|
769,230
|
757,053
|
|||||||
First Brands Group LLC First Lien, 10.59% (3 mo. Term SOFR + 5.00%), 03/30/2027
|
511,958
|
509,718
|
|||||||
Forum Energy Technologies, Inc., 11.00%, 12/08/2026 (c)
|
1,939,027
|
1,861,466
|
|||||||
Trulite, 11.34% (1 mo. Term SOFR + 6.00%), 02/15/2030
|
795,000
|
773,138
|
|||||||
5,083,809
|
|||||||||
Real Estate and Rental and Leasing - 2.4%
|
|||||||||
Micromont, 8.00%, 11/15/2026 (c)
|
875,000
|
875,000
|
|||||||
Retail Trade - 2.4%
|
|||||||||
Mountaineer Merger Corp., 12.59% (3 Month LIBOR + 7.00%), 10/22/2028
|
467,532
|
374,318
|
|||||||
The Container Store, Inc., 10.60% (3 Month LIBOR + 4.75%), 01/31/2026
|
736,446
|
487,895
|
|||||||
862,213
|
|||||||||
TOTAL BANK LOANS (Cost
$9,679,906)
|
9,420,405
|
||||||||
ASSET-BACKED SECURITIES - 2.5%
|
Par
|
Value
|
|||||||
Transportation and Warehousing - 2.5%
|
|||||||||
Hawaiian Airlines 2013-1 Class A Pass Through Certificates, Series 2013-1, 3.90%,
01/15/2026
|
932,588
|
880,130
|
|||||||
TOTAL ASSET-BACKED SECURITIES
(Cost $873,746)
|
880,130
|
||||||||
CONVERTIBLE BONDS - 2.3%
|
Par
|
Value
|
|||||||
Professional, Scientific, and Technical Services - 0.7%
|
|||||||||
UpHealth, Inc., 14.33% (SOFR + 9.00%), 12/15/2025 (a)
|
237,000
|
235,699
|
|||||||
Transportation and Warehousing - 1.6%
|
|||||||||
Delivery Hero SE
|
|||||||||
1.50%, 01/15/2028
|
EUR
|
100,000
|
83,011
|
||||||
2.13%, 03/10/2029
|
EUR
|
600,000
|
485,808
|
||||||
568,819
|
|||||||||
TOTAL CONVERTIBLE BONDS (Cost
$760,930)
|
804,518
|
||||||||
REAL ESTATE INVESTMENT TRUSTS - 1.4%
|
Shares
|
Value
|
|||||||
Real Estate and Rental and Leasing - 1.0%
|
|||||||||
CTO Realty Growth, Inc.
|
20,000
|
349,200
|
|||||||
CTO Realty Growth, Inc. Series A, 6.38%, Perpetual
|
7,334
|
147,633
|
|||||||
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $491,206)
|
496,833
|
||||||||
PREFERRED STOCKS - 1.3%
|
Shares
|
Value
|
|||||||
Wholesale Trade - 1.3%
|
|||||||||
NGL Energy Partners LP Series B, 12.81% (3 mo. Term SOFR + 7.47%), Perpetual
|
19,446
|
482,261
|
|||||||
TOTAL PREFERRED STOCKS (Cost $341,683)
|
482,261
|
||||||||
COMMON STOCKS - 0.4%
|
Shares
|
Value
|
|||||||
Manufacturing - 0.4%
|
|||||||||
RA PARENT, Inc. (c)(d)
|
3
|
147,600
|
|||||||
TOTAL COMMON STOCKS (Cost $177,000)
|
147,600
|
||||||||
SHORT-TERM INVESTMENTS - 21.9%
|
|||||||||
Commercial Paper - 13.1%
|
Par
|
||||||||
Consumer Staples — 3.2%
|
|||||||||
Conagra Brands, Inc., 5.60%, 07/02/2024 (e)
|
388,000
|
387,757
|
|||||||
Dollarama, Inc., 5.71%, 07/11/2024 (e)
|
757,000
|
755,477
|
|||||||
1,143,234
|
|||||||||
Industrials — 2.2%
|
|||||||||
ITT, Inc., 5.46%, 07/08/2024 (e)
|
776,000
|
774,827
|
|||||||
Manufacturing — 3.1%
|
|||||||||
VF Corp., 6.57%, 07/24/2024 (e)
|
312,000
|
310,774
|
|||||||
Whirlpool Corp., 5.76%, 07/12/2024 (e)
|
810,000
|
808,145
|
|||||||
1,118,919
|
|||||||||
Materials — 1.7%
|
|||||||||
FMC Corp., 6.16%, 07/19/2024 (e)
|
630,000
|
627,759
|
|||||||
Real Estate and Rental and Leasing — 0.9%
|
|||||||||
Crown Castle, Inc., 5.75%, 08/01/2024 (e)
|
341,000
|
339,123
|
|||||||
Wholesale Trade — 2.0%
|
|||||||||
Genuine Parts Co., 5.07%, 07/23/2024 (e)
|
709,000
|
706,604
|
|||||||
Total Commercial Paper (Cost
$4,712,193)
|
4,710,466
|
||||||||
Money Market Funds - 8.8%
|
Shares
|
||||||||
First American Government Obligations Fund - Class X, 5.23% (f)
|
1,571,505
|
1,571,505
|
|||||||
First American Treasury Obligations Fund - Class X, 5.20% (f)
|
1,571,505
|
1,571,505
|
|||||||
Total Money Market Funds (Cost
$3,143,010)
|
3,143,010
|
||||||||
TOTAL SHORT-TERM INVESTMENTS
(Cost $7,855,203)
|
7,853,476
|
||||||||
TOTAL INVESTMENTS - 100.2% (Cost
$36,440,107)
|
35,868,806
|
||||||||
Liabilities in Excess of Other Assets - (0.2)%
|
(88,328
|
)
|
|||||||
TOTAL NET ASSETS - 100.0%
|
$
|
35,780,478
|
|||||||
Percentages are stated as a percent of net assets.
|
|
Par amount is in U.S. Dollar unless otherwise indicated.
|
PIK - Payment in Kind
|
SOFR - Secured Overnight Financing Rate
|
EUR - Euro
|
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 $7,030,107 or 19.65% of the Fund’s net assets.
|
(b)
|
Step coupon bond. The rate disclosed is as of June 30, 2024.
|
(c)
|
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 $3,262,828 or 9.1% of net assets as of June 30, 2024.
|
(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 Responsible Credit Fund
Schedule of Forward Currency Contracts |
June 30, 2024 (Unaudited)
|
Settlement Date
|
Currency Purchased
|
Currency Sold
|
Counterparty
|
Unrealized
Appreciation
(Depreciation)
|
||||||||||||
07/15/2024
|
USD
|
5,885,398
|
EUR
|
5,435,000
|
U.S. Bancorp Investments, Inc.
|
$
|
60,036
|
|||||||||
07/15/2024
|
USD
|
3,188,612
|
SEK
|
32,895,000
|
U.S. Bancorp Investments, Inc.
|
82,367
|
||||||||||
Total Unrealized Appreciation (Depreciation)
|
$
|
142,403
|
||||||||||||||
EUR - Euro
|
||||
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 Responsible Credit Fund
|
Level 1
|
Level 2
|
Level 3
|
Total
|
||||||||||||
Assets(1):
|
||||||||||||||||
Corporate Bonds
|
$
|
-
|
$
|
15,404,821
|
$
|
378,762
|
$
|
15,783,583
|
||||||||
Bank Loans
|
-
|
6,683,939
|
2,736,466
|
9,420,405
|
||||||||||||
Asset-Backed Securities
|
-
|
880,130
|
-
|
880,130
|
||||||||||||
Convertible Bonds
|
-
|
804,518
|
-
|
804,518
|
||||||||||||
Real Estate Investment Trusts
|
496,833
|
-
|
-
|
496,833
|
||||||||||||
Preferred Stocks
|
482,261
|
-
|
-
|
482,261
|
||||||||||||
Common Stocks
|
-
|
-
|
147,600
|
147,600
|
||||||||||||
Short-Term Investments
|
3,143,010
|
4,710,466
|
-
|
7,853,476
|
||||||||||||
Total Assets
|
$
|
4,122,104
|
$
|
28,483,874
|
$
|
3,262,828
|
$
|
35,868,806
|
||||||||
Other Financial Instruments(2):
|
||||||||||||||||
Forward Currency Exchange Contracts
|
$
|
-
|
$
|
142,403
|
$
|
-
|
$
|
142,403
|
||||||||
Total Other Financial Instruments
|
$
|
-
|
$
|
142,403
|
$
|
-
|
$
|
142,403
|
||||||||
(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 Responsible Credit Fund
|
||||||||||||
Bank Loans
|
Corporate Bonds
|
Common Stocks
|
||||||||||
Beginning Balance - October 1, 2023
|
$
|
-
|
$
|
755,008
|
$
|
177,600
|
||||||
Purchases
|
2,759,274
|
2,518
|
-
|
|||||||||
Sales
|
-
|
-
|
-
|
|||||||||
Accretion
|
2,226
|
-
|
-
|
|||||||||
Realized gains
|
-
|
-
|
-
|
|||||||||
Realized losses
|
-
|
-
|
-
|
|||||||||
Change in unrealized appreciation (depreciation)
|
(25,034
|
)
|
(378,764
|
)
|
(30,000
|
)
|
||||||
Transfer in/(out) of Level 3
|
-
|
-
|
-
|
|||||||||
Ending Balance - June 30, 2024
|
$
|
2,736,466
|
$
|
378,762
|
$
|
147,600
|
||||||
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 Responsible Credit Fund
|
||||||||||
Description
|
Fair Value June 30, 2024
|
Valuation Methodologies
|
Unobservable Input
|
Range/Weighted
Average Unobservable
Input
|
||||||
Bank Loans
|
$
|
1,861,466
|
Vendor Pricing
|
Broker Quotes
|
$96 - 97.875
|
|||||
Bank Loans
|
$
|
875,000
|
Vendor Pricing
|
Broker Quotes
|
$100
|
|||||
Corporate Bonds
|
$
|
378,762
|
Liquidation analysis
|
Transaction price
|
N/A
|
|||||
Common Stocks
|
$
|
147,600
|
Market comparable
|
Transaction price
|
N/A
|
|||||