|
RiverPark Large Growth Fund June 30, 2024 (Unaudited) |
| Description | Shares | Value (000) | ||||||
| Schedule of Investments | ||||||||
| Common Stock — 98.0%** | ||||||||
| Communication Services – 20.8% | ||||||||
| Alphabet, Cl A | 7,583 | $ | 1,381 | |||||
| Alphabet, Cl C | 7,464 | 1,369 | ||||||
| Meta Platforms, Cl A | 4,135 | 2,085 | ||||||
| Netflix * | 2,236 | 1,509 | ||||||
| Pinterest, Cl A * | 18,425 | 812 | ||||||
| Snap, Cl A * | 36,855 | 612 | ||||||
| Walt Disney | 12,788 | 1,270 | ||||||
| 9,038 | ||||||||
| Consumer Discretionary – 12.3% | ||||||||
| Amazon.com * | 11,102 | 2,145 | ||||||
| Booking Holdings | 324 | 1,283 | ||||||
| Lululemon Athletica * | 1,241 | 371 | ||||||
| McDonald's | 1,647 | 420 | ||||||
| NIKE, Cl B | 10,881 | 820 | ||||||
| Starbucks | 4,044 | 315 | ||||||
| 5,354 | ||||||||
| Consumer Staples – 3.0% | ||||||||
| Costco Wholesale | 1,003 | 852 | ||||||
| PepsiCo | 2,654 | 438 | ||||||
| 1,290 | ||||||||
| Financials – 14.7% | ||||||||
| Adyen ADR * | 59,854 | 710 | ||||||
| Blackstone | 9,893 | 1,225 | ||||||
| Charles Schwab | 14,923 | 1,100 | ||||||
| KKR | 10,623 | 1,118 | ||||||
| Mastercard, Cl A | 2,866 | 1,264 | ||||||
| Visa, Cl A | 3,635 | 954 | ||||||
| 6,371 | ||||||||
| Health Care – 9.8% | ||||||||
| Eli Lilly | 1,300 | 1,177 | ||||||
| GRAIL * | 577 | 9 | ||||||
| Illumina * | 4,043 | 422 | ||||||
| Intuitive Surgical * | 2,792 | 1,242 | ||||||
| UnitedHealth Group | 1,626 | 828 | ||||||
| Zoetis, Cl A | 3,326 | 577 | ||||||
| 4,255 | ||||||||
| Industrials – 4.5% | ||||||||
| Lockheed Martin | 785 | 367 | ||||||
| Uber Technologies * | 21,648 | 1,573 | ||||||
| 1,940 | ||||||||
| Information Technology – 32.4% | ||||||||
| Adobe * | 1,620 | 900 | ||||||
| Apple | 9,383 | 1,976 | ||||||
| Autodesk * | 2,695 | 667 | ||||||
| Datadog, Cl A * | 5,510 | 715 | ||||||
| Five9 * | 11,693 | 516 | ||||||
| Intuit | 1,561 | 1,026 | ||||||
| Microsoft | 5,488 | 2,453 | ||||||
| NVIDIA | 21,554 | 2,663 | ||||||
| ServiceNow * | 1,376 | 1,082 | ||||||
| Shopify, Cl A * | 20,348 | 1,344 | ||||||
| Workday, Cl A * | 3,288 | 735 | ||||||
| 14,077 | ||||||||
| Real Estate – 0.5% | ||||||||
| Equinix | 320 | 242 | ||||||
| Total Common Stock | ||||||||
| (Cost $20,623) (000) | 42,567 | |||||||
| Total Investments — 98.0% | ||||||||
| (Cost $20,623) (000) | $ | 42,567 | ||||||
| Percentages are based on Net Assets of $43,430 (000). | |
| ** | More narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting purposes. |
| * | Non-income producing security. |
| ADR — American Depositary Receipt |
| Cl — Class |
RPF-QH-001-2700
|
Wedgewood Fund June 30, 2024 (Unaudited) |
| Description | Shares | Value (000) | ||||||
| Schedule of Investments | ||||||||
| Common Stock — 94.1% | ||||||||
| Communication Services – 16.8% | ||||||||
| Alphabet, Cl A | 14,071 | $ | 2,563 | |||||
| Meta Platforms, Cl A | 4,484 | 2,261 | ||||||
| 4,824 | ||||||||
| Consumer Discretionary – 13.6% | ||||||||
| Booking Holdings | 333 | 1,319 | ||||||
| O'Reilly Automotive * | 484 | 511 | ||||||
| Pool | 1,906 | 586 | ||||||
| Tractor Supply | 5,507 | 1,487 | ||||||
| 3,903 | ||||||||
| Energy – 1.9% | ||||||||
| Texas Pacific Land | 737 | 541 | ||||||
| Financials – 14.5% | ||||||||
| PayPal Holdings * | 28,598 | 1,659 | ||||||
| S&P Global | 1,385 | 618 | ||||||
| Visa, Cl A | 7,131 | 1,872 | ||||||
| 4,149 | ||||||||
| Health Care – 10.2% | ||||||||
| Edwards Lifesciences * | 13,056 | 1,206 | ||||||
| UnitedHealth Group | 3,370 | 1,716 | ||||||
| 2,922 | ||||||||
| Industrials – 7.4% | ||||||||
| Copart * | 28,202 | 1,527 | ||||||
| Old Dominion Freight Line | 3,436 | 607 | ||||||
| 2,134 | ||||||||
| Information Technology – 29.7% | ||||||||
| Apple | 9,059 | 1,908 | ||||||
| CDW | 5,244 | 1,174 | ||||||
| Microsoft | 3,820 | 1,707 | ||||||
| Motorola Solutions | 4,017 | 1,551 | ||||||
| Taiwan Semiconductor Manufacturing ADR | 12,438 | 2,162 | ||||||
| 8,502 | ||||||||
| Total Common Stock | ||||||||
| (Cost $14,129) (000) | 26,975 | |||||||
| Total Investments — 94.1% | ||||||||
| (Cost $14,129) (000) | $ | 26,975 | ||||||
| Percentages are based on Net Assets of $28,676 (000). | |
| * | Non-income producing security. |
| ADR — American Depositary Receipt |
| Cl — Class |
RPF-QH-001-2700
|
RiverPark
Short Term High Yield Fund June 30, 2024 (Unaudited) |
| Description | Face Amount (000)‡ | Value (000) | ||||||
| Schedule of Investments | ||||||||
| Corporate Obligations — 59.5% | ||||||||
| Communication Services – 5.7% | ||||||||
| Connect Finco SARL | ||||||||
| 6.750%, 10/01/26 (a) | 6,100 | $ | 5,893 | |||||
| Getty Images | ||||||||
| 9.750%, 03/01/27 (a) | 7,500 | 7,522 | ||||||
| Opnet | ||||||||
| 10.722%, EUR003M + 7.000%, 02/09/26 (a) (b) | EUR 19,254 | 20,569 | ||||||
| TEGNA | ||||||||
| 4.750%, 03/15/26 (a) | 8,064 | 7,892 | ||||||
| TripAdvisor | ||||||||
| 7.000%, 07/15/25 (a) | 2,500 | 2,510 | ||||||
| 44,386 | ||||||||
| Consumer Discretionary – 8.8% | ||||||||
| Brinker International | ||||||||
| 5.000%, 10/01/24 (a) | 16,798 | 16,757 | ||||||
| Caesars Entertainment | ||||||||
| 6.250%, 07/01/25 (a) | 13,699 | 13,699 | ||||||
| CPI CG | ||||||||
| 8.625%, 03/15/26 (a) | 271 | 277 | ||||||
| Ford Motor Credit | ||||||||
| 3.664%, 09/08/24 | 3,135 | 3,120 | ||||||
| Michael Kors USA | ||||||||
| 4.250%, 11/01/24 (a) | 17,135 | 16,958 | ||||||
| Sizzling Platter | ||||||||
| 8.500%, 11/28/25 (a) | 18,231 | 18,395 | ||||||
| 69,206 | ||||||||
| Energy – 20.9% | ||||||||
| BLUENORD | ||||||||
| 9.000%, 06/17/26 (a) | 22,400 | 24,696 | ||||||
| CITGO Petroleum | ||||||||
| 7.000%, 06/15/25 (a) | 14,656 | 14,666 | ||||||
| CrownRock | ||||||||
| 5.625%, 10/15/25 (a) | 23,000 | 22,961 | ||||||
| EQM Midstream Partners | ||||||||
| 4.000%, 08/01/24 | 5,349 | 5,336 | ||||||
| Golar LNG | ||||||||
| 7.000%, 10/20/25 (a) | 1,500 | 1,494 | ||||||
| Matador Resources | ||||||||
| 5.875%, 09/15/26 | 19,024 | 19,006 | ||||||
| Northriver Midstream Finance | ||||||||
| 5.625%, 02/15/26 (a) | 57,353 | 57,415 | ||||||
| Petroleos Mexicanos | ||||||||
| 4.250%, 01/15/25 | 5,945 | 5,862 | ||||||
| Tallgrass Energy Partners | ||||||||
| 7.500%, 10/01/25 (a) | 10,648 | 10,701 | ||||||
| Tidewater | ||||||||
| 8.500%, 11/16/26 | 2,000 | 2,077 | ||||||
| 164,214 | ||||||||
| Financials – 5.0% | ||||||||
| Fiserv | ||||||||
| 2.750%, 07/01/24 | 9,821 | 9,821 | ||||||
| HAT Holdings I | ||||||||
| 6.000%, 04/15/25 (a) | 19,058 | 19,054 | ||||||
| Storskogen Group | ||||||||
| 6.753%, STIB3M + 3.000%, 12/01/25 (b) | SEK 108,750 | 10,305 | ||||||
| 39,180 | ||||||||
| Health Care – 6.3% | ||||||||
| Cannabist Holdings | ||||||||
| 9.500%, 02/03/26 (a) | 8,000 | 6,760 | ||||||
| ModivCare | ||||||||
| 5.875%, 11/15/25 (a) | 22,825 | 23,161 | ||||||
| Norlandia Health & Care Group | ||||||||
| 9.760%, STIB3M + 5.750%, 05/27/25 (b) | SEK 50,000 | 4,763 | ||||||
| Owens & Minor | ||||||||
| 4.375%, 12/15/24 | 3,955 | 3,933 | ||||||
| Perrigo Finance Unlimited | ||||||||
| 3.900%, 12/15/24 | 10,936 | 10,803 | ||||||
| 49,420 | ||||||||
| Industrials – 9.3% | ||||||||
| Brink's | ||||||||
| 5.500%, 07/15/25 (a) | 5,134 | 5,132 | ||||||
| Delta Air Lines | ||||||||
| 2.900%, 10/28/24 | 17,737 | 17,564 | ||||||
| Hawaiian Airlines Pass-Through Certificates, Ser 2013-1, Cl A | ||||||||
| 3.900%, 01/15/26 | 5,340 | 5,040 | ||||||
| Howmet Aerospace | ||||||||
| 5.125%, 10/01/24 | 809 | 809 | ||||||
| Icahn Enterprises | ||||||||
| 6.250%, 05/15/26 | 13,308 | 13,215 | ||||||
| Mangrove Luxco III SARL | ||||||||
| 7.775%, 10/09/25 | EUR 14,519 | 15,520 | ||||||
| Sensata Technologies BV | ||||||||
| 5.000%, 10/01/25 (a) | 6,855 | 6,915 | ||||||
|
RiverPark
Short Term High Yield Fund June 30, 2024 (Unaudited) |
| Description | Face Amount (000)‡ | Value (000) | ||||||
| Williams Scotsman | ||||||||
| 6.125%, 06/15/25 (a) | 8,227 | $ | 8,223 | |||||
| 72,418 | ||||||||
| Information Technology – 0.0% | ||||||||
| CDW | ||||||||
| 5.500%, 12/01/24 | 150 | 150 | ||||||
| Materials – 3.5% | ||||||||
| Graphic Packaging International | ||||||||
| 4.125%, 08/15/24 | 1,014 | 1,014 | ||||||
| Sealed Air | ||||||||
| 5.125%, 12/01/24 (a) | 26,069 | 26,025 | ||||||
| 27,039 | ||||||||
| Total Corporate Obligations | ||||||||
| (Cost $468,855) (000) | 466,013 | |||||||
| Commercial Paper — 21.4% | ||||||||
| Consumer Discretionary – 6.4% | ||||||||
| Dollarama | ||||||||
| 5.676%, 07/11/24 (c) | 16,345 | 16,312 | ||||||
| Mohawk Industries | ||||||||
| 5.459%, 07/02/24 (c) | 15,504 | 15,495 | ||||||
| Whirlpool | ||||||||
| 5.931%, 07/08/24 (c) | 18,350 | 18,320 | ||||||
| 50,127 | ||||||||
| Consumer Staples – 4.3% | ||||||||
| Conagra Brands | ||||||||
| 5.763%, 07/02/24 (c) | 8,386 | 8,381 | ||||||
| Constellation Brands | ||||||||
| 5.662%, 07/23/24 (c) | 10,000 | 9,960 | ||||||
| McCormick & Company | ||||||||
| 5.467%, 07/11/24 (c) | 15,504 | 15,473 | ||||||
| 33,814 | ||||||||
| Energy – 1.2% | ||||||||
| Targa Resources | ||||||||
| 6.035%, 07/23/24 (c) | 9,333 | 9,294 | ||||||
| Health Care – 2.1% | ||||||||
| Dentsply International | ||||||||
| 6.136%, 07/12/24 (c) | 16,000 | 15,963 | ||||||
| Industrials – 2.1% | ||||||||
| ITT | ||||||||
| 5.555%, 07/08/24 (c) | 16,771 | 16,745 | ||||||
| Materials – 3.1% | ||||||||
| FMC | ||||||||
| 6.086%, 07/19/24 (c) | 13,621 | 13,573 | ||||||
| Sherwin-Williams | ||||||||
| 5.476%, 07/22/24 (c) | 11,000 | 10,960 | ||||||
| 24,533 | ||||||||
| Real Estate – 2.2% | ||||||||
| Crown Castle International | ||||||||
| 5.857%, 08/01/24 (c) | 17,362 | 17,266 | ||||||
| Total Commercial Paper | ||||||||
| (Cost $167,822) (000) | 167,742 | |||||||
| Convertible Bonds — 12.6% | ||||||||
| Communication Services – 1.1% | ||||||||
| Liberty TripAdvisor Holdings | ||||||||
| 0.500%, 06/30/51(a) | 9,250 | 8,679 | ||||||
| Consumer Staples – 2.9% | ||||||||
| Turning Point Brands | ||||||||
| 2.500%, 07/15/24 | 22,815 | 22,973 | ||||||
| Energy – 1.1% | ||||||||
| Forum Energy Technologies | ||||||||
| 9.000%cash/0% PIK, 08/04/25 | 8,748 | 8,744 | ||||||
| Health Care – 5.0% | ||||||||
| BioMarin Pharmaceutical | ||||||||
| 0.599%, 08/01/24 | 16,188 | 16,096 | ||||||
| Jazz Investments I | ||||||||
| 1.500%, 08/15/24 | 22,872 | 22,757 | ||||||
| 38,853 | ||||||||
| Information Technology – 2.5% | ||||||||
| BlackLine | ||||||||
| 0.125%, 08/01/24 | 19,596 | 19,537 | ||||||
| Total Convertible Bonds | ||||||||
| (Cost $98,466) (000) | 98,786 | |||||||
| Bank Loan Obligations — 2.8% | ||||||||
| Business Equipment & Services – 1.9% | ||||||||
| William Morris Endeavor Entertainment, LLC, Term B-1 Loan (1st Lien) | ||||||||
| 8.194%, 05/18/25 (b) | 15,069 | 15,080 | ||||||
|
RiverPark
Short Term High Yield Fund June 30, 2024 (Unaudited) |
| Description | Face Amount (000)‡/Shares | Value (000) | ||||||
| Communication Services – 0.9% | ||||||||
| Univision Communications Inc., Term Loan, 1st Lien | ||||||||
| 8.694%, 03/15/26 (b) | 6,603 | $ | 6,603 | |||||
| Total Bank Loan Obligations | ||||||||
| (Cost $21,753) (000) | 21,683 | |||||||
| Preferred Stock — 0.2% | ||||||||
| Industrials – 0.2% | ||||||||
| Costamare | ||||||||
| 8.875% | 51,681 | 1,317 | ||||||
| Total Preferred Stock | ||||||||
| (Cost $1,316) (000) | 1,317 | |||||||
| Special Purpose Acquisition Company — 0.0% | ||||||||
| Common Stock– 0.0% | ||||||||
| Diversified Financials – 0.0% | ||||||||
| Plum Acquisition Corp III, Founder Shares * (d) (e) | 45,106 | 3 | ||||||
| Total Special Purpose Acquisition Company | ||||||||
| (Cost $–) (000) | 3 | |||||||
| Total Investments — 96.5% | ||||||||
| (Cost $758,212) (000) | $ | 755,544 | ||||||
| A list of the open forward foreign currency contracts held by the Fund at June 30, 2024, is as follows (000): | ||||||||||||||||||
| Counterparty | Maturity
Date | Currency
to Deliver | Currency
to Receive | Unrealized Appreciation (Depreciation) | ||||||||||||||
| Brown Brothers Harriman | 07/02/24 | SEK | 160,690 | USD | 15,364 | $ | 203 | |||||||||||
| Brown Brothers Harriman | 07/02/24 | USD | 1,905 | NOK | 20,084 | (24 | ) | |||||||||||
| Brown Brothers Harriman | 07/02/24 | NOK | 20,084 | USD | 1,899 | 18 | ||||||||||||
| Brown Brothers Harriman | 07/02/24 | EUR | 34,624 | USD | 37,705 | 625 | ||||||||||||
| $ | 822 | |||||||||||||||||
| Percentages are based on Net Assets of $783,221 (000). | |
| ‡ | In U.S. Dollar unless otherwise indicated. |
| * | Non-income producing security. |
| (a) | Securities sold within terms of a private placement memorandum, exempt from registration under Section 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other "accredited investors." These securities have been determined to be liquid under guidelines established by the Board of Trustees. At June 30, 2024, these securities amounted to $346,354 (000) or 44.2% of Net Assets. |
| (b) | Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates for certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates. |
| (c) | The rate reported on the Schedule of Investments is the effective yield at the time of purchase. |
| (d) | Level 3 security in accordance with fair value hierarchy. As of June 30, 2024, the total amount of Level 3 securities held by the Fund was $3 (000). |
| (e) | Security is fair valued. |
| Cl — Class |
| EUR — Euro |
| EUR003M — Three-Month Euribor |
| NOK — Norwegian Krone |
| SEK — Swedish krona |
| Ser — Series |
| STIB3M — Three-Month Stockholm Interbank Offered Rate |
| USD — United States Dollar |
Amounts designated as “—” are $0 or have been rounded to $0.
RPF-QH-001-2700
|
RiverPark
Long/Short Opportunity Fund June 30, 2024 (Unaudited) |
| Description | Shares | Value (000) | ||||||
| Schedule of Investments | ||||||||
| Common Stock — 85.0%** | ||||||||
| Communication Services – 19.2% | ||||||||
| Alphabet, Cl A | 6,604 | $ | 1,203 | |||||
| Alphabet, Cl C | 6,553 | 1,202 | ||||||
| Meta Platforms, Cl A | 3,761 | 1,896 | ||||||
| Netflix * | 2,073 | 1,399 | ||||||
| Pinterest, Cl A * | 17,611 | 776 | ||||||
| Snap, Cl A * | 32,368 | 538 | ||||||
| Walt Disney | 12,809 | 1,272 | ||||||
| 8,286 | ||||||||
| Consumer Discretionary – 11.6% | ||||||||
| Amazon.com * | 10,051 | 1,942 | ||||||
| Booking Holdings | 297 | 1,177 | ||||||
| Lululemon Athletica * | 1,216 | 363 | ||||||
| McDonald's | 1,682 | 429 | ||||||
| NIKE, Cl B | 10,845 | 817 | ||||||
| Starbucks | 3,291 | 256 | ||||||
| 4,984 | ||||||||
| Consumer Staples – 2.8% | ||||||||
| Costco Wholesale | 923 | 785 | ||||||
| PepsiCo | 2,668 | 440 | ||||||
| 1,225 | ||||||||
| Financials – 10.5% | ||||||||
| Adyen ADR * | 47,016 | 558 | ||||||
| Blackstone | 8,705 | 1,078 | ||||||
| KKR | 8,780 | 924 | ||||||
| Mastercard, Cl A (a) | 2,539 | 1,120 | ||||||
| Visa, Cl A | 3,313 | 869 | ||||||
| 4,549 | ||||||||
| Health Care – 8.9% | ||||||||
| Eli Lilly | 1,062 | 961 | ||||||
| GRAIL * | 572 | 9 | ||||||
| Illumina * | 4,022 | 420 | ||||||
| Intuitive Surgical * | 2,448 | 1,089 | ||||||
| UnitedHealth Group | 1,612 | 821 | ||||||
| Zoetis, Cl A | 3,159 | 548 | ||||||
| 3,848 | ||||||||
| Industrials – 4.9% | ||||||||
| Lockheed Martin | 750 | 350 | ||||||
| Lyft, Cl A * | 21,869 | 308 | ||||||
| Uber Technologies * | 19,987 | 1,453 | ||||||
| 2,111 | ||||||||
| Information Technology – 26.6% | ||||||||
| Adobe * | 1,544 | 858 | ||||||
| Apple | 9,958 | 2,097 | ||||||
| Autodesk * | 2,460 | 609 | ||||||
| Datadog, Cl A * | 5,071 | 658 | ||||||
| Five9 * | 10,169 | 449 | ||||||
| Intuit | 1,385 | 910 | ||||||
| Microsoft | 6,522 | 2,915 | ||||||
| NVIDIA (a) | 2,680 | 331 | ||||||
| ServiceNow * | 1,257 | 989 | ||||||
| Shopify, Cl A * | 20,823 | 1,375 | ||||||
| Workday, Cl A *(a) | 1,214 | 271 | ||||||
| 11,462 | ||||||||
| Real Estate – 0.5% | ||||||||
| Equinix | 306 | 232 | ||||||
| Total Common Stock | ||||||||
| (Cost $17,824) (000) | 36,697 | |||||||
| Total Investments — 85.0% | ||||||||
| (Cost $17,824) (000) | $ | 36,697 | ||||||
|
RiverPark
Long/Short Opportunity Fund June 30, 2024 (Unaudited) |
A list of open swap agreements held by the Fund at June 30, 2024 was as follows:
Long Exposure |
||||||||||||||||||||||
Company Reference |
Counterparty |
Fund Pays |
Payment |
Maturity |
Notional |
Value
|
Net
|
|||||||||||||||
Charles Schwab |
Goldman Sachs International |
USD-SOFR + 0.61% |
Maturity | 06/02/2025 | $ | 1,089 | $ | 1,069 | $ | (20 | ) | |||||||||||
Mastercard, Class A |
Goldman Sachs International |
USD-SOFR + 0.61% |
Maturity | 07/09/2024 | 104 | 118 | 14 | |||||||||||||||
NVIDIA |
Goldman Sachs International |
USD-SOFR + 0.61% |
Maturity | 05/29/2025 | 1,463 | 2,253 | 790 | |||||||||||||||
Workday, Class A |
Goldman Sachs International |
USD-SOFR + 0.61% |
Maturity | 10/30/2024 | 430 | 399 | (31 | ) | ||||||||||||||
| $ | 3,086 | $ | 3,839 | $ | 753 | |||||||||||||||||
| Short Exposure | ||||||||||||||||||||||||||
Company Reference |
Counterparty |
Fund
|
Fund
| Payment Frequency1 | Maturity
Date | Notional Amount (000) | Value
(000) | Net
| ||||||||||||||||||
| Airbnb, Class A | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 07/01/2025 | $ | (274 | ) | $ | (281 | ) | $ | (7 | ) | |||||||||||
| Ares Management, Class A | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 05/21/2025 | (248 | ) | (250 | ) | (2 | ) | ||||||||||||||
| Boston Properties | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 11/06/2024 | (209 | ) | (239 | ) | (30 | ) | ||||||||||||||
| Capital One Financial Corp | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 12/26/2024 | (243 | ) | (314 | ) | (71 | ) | ||||||||||||||
| Carmax | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 12/26/2024 | (317 | ) | (340 | ) | (23 | ) | ||||||||||||||
| Doordash, Class A | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 06/18/2025 | (286 | ) | (271 | ) | 15 | |||||||||||||||
| Fidelity National Information Services | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 11/06/2024 | (188 | ) | (261 | ) | (73 | ) | ||||||||||||||
| Hilton Worldwide Holdings | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 02/20/2025 | (199 | ) | (234 | ) | (35 | ) | ||||||||||||||
| Industrial Select Sector SPDR | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 05/14/2025 | (861 | ) | (846 | ) | 15 | |||||||||||||||
| Invesco QQQ Trust ETF | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 10/23/2024 | (793 | ) | (874 | ) | (81 | ) | ||||||||||||||
| Iron Mountain | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 11/06/2024 | (200 | ) | (300 | ) | (100 | ) | ||||||||||||||
| iShares Expanded Tech - Software Sector ETF | Goldman Sachs International | USD-SOFR | -0.74 | % | Maturity | 07/10/2024 | (659 | ) | (692 | ) | (33 | ) | ||||||||||||||
| Lyondellbasell Industries N.V., Class A | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 02/20/2025 | (313 | ) | (320 | ) | (7 | ) | ||||||||||||||
| Marriott International, Class A | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 02/20/2025 | (207 | ) | (218 | ) | (11 | ) | ||||||||||||||
| Match Group | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 06/18/2025 | (286 | ) | (275 | ) | 11 | |||||||||||||||
| Ralph Lauren Corp, Class A | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 02/12/2025 | (306 | ) | (365 | ) | (59 | ) | ||||||||||||||
| SPDR S&P Homebuilders ETF | Goldman Sachs International | USD-SOFR | -0.84 | % | Maturity | 08/15/2024 | (803 | ) | (825 | ) | (22 | ) | ||||||||||||||
| Synchrony Financial | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 10/30/2024 | (243 | ) | (372 | ) | (129 | ) | ||||||||||||||
| Ventas | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 11/06/2024 | (211 | ) | (266 | ) | (55 | ) | ||||||||||||||
| Wynn Resorts, Limited | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 11/06/2024 | (212 | ) | (201 | ) | 11 | |||||||||||||||
| $ | (7,058 | ) | $ | (7,744 | ) | $ | (686 | ) | ||||||||||||||||||
1 |
The payment frequency is the maturity date of each swap contract or the settlement date of a closing transaction, whichever comes first. |
† |
Inclusive of accrued dividends and interest related to Total Return Swaps. |
| Percentages are based on Net Assets of $43,166 (000). | |
| * | Non-income producing security. |
| ** | More narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting purposes. |
| (a) | Underlying security for a Total Return Swap. |
| ADR — American Depositary Receipt |
| Cl — Class |
| ETF — Exchange Traded Fund |
| SOFR — Secured Overnight Financing Rate |
| SPDR — Standard & Poor’s Depository Receipt |
| S&P — Standard & Poor’s |
| USD — United States Dollar |
RPF-QH-001-2700
|
RiverPark
Floating Rate CMBS Fund June 30, 2024 (Unaudited) |
| Description | Face
Amount (000) | Value (000) | ||||||
| Schedule of Investments | ||||||||
| Commercial Mortgage-Backed Securities — 98.9% | ||||||||
| Non-Agency Mortgage-Backed Obligations – 98.9% | ||||||||
| ARES Commercial Mortgage Trust, Ser 2024-IND, Cl B | ||||||||
| 7.361%, TSFR1M + 2.041%, 07/15/41 (a) (b) | $ | 2,000 | $ | 1,996 | ||||
| BLP Commercial Mortgage Trust, Ser 2024-IND2, Cl A | ||||||||
| 6.671%, TSFR1M + 1.342%, 03/15/41 (a) (b) | 1,000 | 993 | ||||||
| BX Commercial Mortgage Trust, Ser 2021-VOLT, Cl F | ||||||||
| 7.843%, TSFR1M + 2.514%, 09/15/36 (a) (b) | 500 | 491 | ||||||
| BX Commercial Mortgage Trust, Ser 2021-XL2, Cl F | ||||||||
| 7.688%, TSFR1M + 2.359%, 10/15/38 (a) (b) | 2,112 | 2,070 | ||||||
| BX Commercial Mortgage Trust, Ser 2021-SOAR, Cl E | ||||||||
| 7.244%, TSFR1M + 1.914%, 06/15/38 (a) (b) | 877 | 865 | ||||||
| BX Commercial Mortgage Trust, Ser 2021-CIP, Cl D | ||||||||
| 7.115%, TSFR1M + 1.785%, 12/15/38 (a) (b) | 1,500 | 1,474 | ||||||
| BX Commercial Mortgage Trust, Ser 2024-MDHS, Cl A | ||||||||
| 6.970%, TSFR1M + 1.641%, 05/15/41 (a) (b) | 2,000 | 1,995 | ||||||
| BX Commercial Mortgage Trust, Ser 2021-SOAR, Cl C | ||||||||
| 6.544%, TSFR1M + 1.214%, 06/15/38 (a) (b) | 403 | 398 | ||||||
| BX Commercial Mortgage Trust, Ser 2021-ACNT, Cl A | ||||||||
| 6.294%, TSFR1M + 0.964%, 11/15/38 (a) (b) | 1,377 | 1,361 | ||||||
| BX Commercial Mortgage Trust, Ser 2021-VINO, Cl A | ||||||||
| 6.096%, TSFR1M + 0.767%, 05/15/38 (a) (b) | 1,197 | 1,182 | ||||||
| BX Trust, Ser 2022-IND, Cl E | ||||||||
| 9.316%, TSFR1M + 3.987%, 04/15/37 (a) (b) | 1,482 | 1,452 | ||||||
| BX Trust, Ser 2019-MMP, Cl F | ||||||||
| 8.165%, TSFR1M + 2.836%, 08/15/36 (a) (b) | 2,985 | 2,800 | ||||||
| BX Trust, Ser 2022-PSB, Cl A | ||||||||
| 7.780%, TSFR1M + 2.451%, 08/15/39 (a) (b) | 1,688 | 1,685 | ||||||
| BX Trust, Ser 2021-MFM1, Cl E | ||||||||
| 7.694%, TSFR1M + 2.364%, 01/15/34 (a) (b) | 766 | 751 | ||||||
| BX Trust, Ser 2024-CNYN, Cl A | ||||||||
| 6.771%, TSFR1M + 1.442%, 04/15/29 (a) (b) | 1,987 | 1,988 | ||||||
| BX Trust, Ser 2021-RISE, Cl A | ||||||||
| 6.191%, TSFR1M + 0.862%, 11/15/36 (a) (b) | 1,834 | 1,812 | ||||||
| ILPT Commercial Mortgage Trust, Ser 2022-LPF2, Cl E | ||||||||
| 11.269%, TSFR1M + 5.940%, 10/15/39 (a) (b) | 1,000 | 954 | ||||||
| ILPT Commercial Mortgage Trust, Ser 2022-LPF2, Cl C | ||||||||
| 8.822%, TSFR1M + 3.493%, 10/15/39 (a) (b) | 2,000 | 1,945 | ||||||
| JP Morgan Chase Commercial Mortgage Securities Trust, Ser 2021-MHC, Cl E | ||||||||
| 8.144%, TSFR1M + 2.814%, 04/15/38 (a) (b) | 1,300 | 1,288 | ||||||
| MHC Trust, Ser 2021-MHC2, Cl B | ||||||||
| 6.544%, TSFR1M + 1.214%, 05/15/38 (a) (b) | 1,336 | 1,319 | ||||||
| MHP, Ser 2021-STOR, Cl F | ||||||||
| 7.644%, TSFR1M + 2.314%, 07/15/38 (a) (b) | 1,500 | 1,481 | ||||||
| OPG Trust, Ser 2021-PORT F | ||||||||
| 7.392%, TSFR1M + 2.062%, 10/15/36 (a) (b) | 650 | 641 | ||||||
| TTAN, Ser 2021-MHC, Cl D | ||||||||
| 7.194%, TSFR1M + 1.864%, 03/15/38 (a) (b) | 1,389 | 1,371 | ||||||
| Total Commercial Mortgage-Backed Securities | ||||||||
| (Cost $32,697) (000) | 32,312 | |||||||
| Total Investments — 98.9% | ||||||||
| (Cost $32,697) (000) | $ | 32,312 | ||||||
|
RiverPark
Floating Rate CMBS Fund June 30, 2024 (Unaudited) |
| Percentages are based on Net Assets of $32,665 (000). | |
| (a) | Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates for certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates. |
| (b) | Securities sold within terms of a private placement memorandum, exempt from registration under Section 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other "accredited investors." These securities have been determined to be liquid under guidelines established by the Board of Trustees. At June 30, 2024, these securities amounted to $32,312 (000) or 98.9% of Net Assets. |
| Cl — Class |
| Ser — Series |
| TSFR1M — Term Secured Overnight Finance Rate 1-Month |
RPF-QH-001-2700
|
RiverPark/Next
Century Growth Fund June 30, 2024 (Unaudited) |
| Description | Shares | Value (000) | ||||||
| Schedule of Investments | ||||||||
| Common Stock — 94.8%** | ||||||||
| Communication Services – 0.7% | ||||||||
| QuinStreet * | 5,845 | $ | 97 | |||||
| Consumer Discretionary – 5.9% | ||||||||
| Cava Group * | 1,518 | 141 | ||||||
| Dutch Bros, Cl A * | 3,982 | 165 | ||||||
| Floor & Decor Holdings, Cl A * | 662 | 66 | ||||||
| Global-e Online * | 2,451 | 89 | ||||||
| Kura Sushi USA, Cl A * | 1,184 | 75 | ||||||
| LGI Homes * | 1,457 | 130 | ||||||
| Smith Douglas Homes, Cl A * | 5,122 | 120 | ||||||
| Universal Technical Institute * | 2,703 | 42 | ||||||
| 828 | ||||||||
| Consumer Staples – 4.3% | ||||||||
| Celsius Holdings * | 4,933 | 282 | ||||||
| Freshpet * | 2,568 | 332 | ||||||
| 614 | ||||||||
| Energy – 0.6% | ||||||||
| Permian Resources, Cl A | 5,625 | 91 | ||||||
| Financials – 6.7% | ||||||||
| Flywire * | 16,142 | 265 | ||||||
| Kinsale Capital Group | 1,060 | 408 | ||||||
| Paymentus Holdings, Cl A * | 14,269 | 271 | ||||||
| 944 | ||||||||
| Health Care – 19.8% | ||||||||
| Alphatec Holdings * | 18,828 | 197 | ||||||
| Artivion * | 2,141 | 55 | ||||||
| Castle Biosciences * | 3,136 | 68 | ||||||
| Medpace Holdings * | 607 | 250 | ||||||
| Natera * | 3,235 | 350 | ||||||
| Penumbra * | 396 | 71 | ||||||
| PROCEPT BioRobotics * | 2,211 | 135 | ||||||
| Progyny * | 5,408 | 155 | ||||||
| RxSight * | 3,379 | 203 | ||||||
| SI-BONE * | 5,687 | 74 | ||||||
| Tandem Diabetes Care * | 11,130 | 448 | ||||||
| TransMedics Group * | 4,462 | 672 | ||||||
| Vericel * | 2,482 | 114 | ||||||
| 2,792 | ||||||||
| Industrials – 25.6% | ||||||||
| AAON | 886 | 77 | ||||||
| AeroVironment * | 1,960 | 357 | ||||||
| Astronics * | 29,379 | 589 | ||||||
| ExlService Holdings * | 8,131 | 255 | ||||||
| FTAI Aviation | 1,961 | 202 | ||||||
| Hexcel | 5,312 | 332 | ||||||
| Loar Holdings * | 2,901 | 155 | ||||||
| MYR Group * | 1,089 | 148 | ||||||
| Paylocity Holding * | 420 | 55 | ||||||
| RBC Bearings * | 993 | 268 | ||||||
| Saia * | 1,102 | 523 | ||||||
| Sterling Infrastructure * | 1,184 | 140 | ||||||
| Verra Mobility, Cl A * | 18,575 | 505 | ||||||
| 3,606 | ||||||||
| Information Technology – 31.2% | ||||||||
| Agilysys * | 1,936 | 202 | ||||||
| Appfolio, Cl A * | 867 | 212 | ||||||
| Clearwater Analytics Holdings, Cl A * | 7,140 | 132 | ||||||
| Coherent * | 3,818 | 277 | ||||||
| Credo Technology Group Holding * | 5,477 | 175 | ||||||
| CyberArk Software * | 1,092 | 299 | ||||||
| Enfusion, Cl A * | 8,008 | 68 | ||||||
| Five9 * | 2,527 | 111 | ||||||
| Guidewire Software * | 1,541 | 213 | ||||||
| JFrog * | 2,183 | 82 | ||||||
| Lattice Semiconductor * | 2,314 | 134 | ||||||
| MACOM Technology Solutions Holdings * | 4,827 | 538 | ||||||
| Monday.com * | 596 | 144 | ||||||
| Napco Security Technologies | 8,450 | 439 | ||||||
| PAR Technology * | 4,064 | 191 | ||||||
| Q2 Holdings * | 6,737 | 406 | ||||||
| SPS Commerce * | 1,808 | 340 | ||||||
| Vertex, Cl A * | 12,371 | 446 | ||||||
| 4,409 | ||||||||
| Total Common Stock | ||||||||
| (Cost $12,604) (000) | 13,381 | |||||||
| Total Investments — 94.8% | ||||||||
| (Cost $12,604) (000) | $ | 13,381 | ||||||
| Percentages are based on Net Assets of $14,112 (000). | |
| * | Non-income producing security. |
| ** | More narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting purposes. |
| Cl — Class |
RPF-QH-001-2700
|
RiverPark/Next Century Large Growth Fund June 30, 2024 (Unaudited) |
| Description | Shares | Value (000) | ||||||
| Schedule of Investments | ||||||||
| Common Stock — 97.1% | ||||||||
| Communication Services – 12.2% | ||||||||
| Alphabet, Cl A | 911 | $ | 166 | |||||
| Meta Platforms, Cl A | 197 | 99 | ||||||
| Netflix * | 63 | 43 | ||||||
| 308 | ||||||||
| Consumer Discretionary – 8.8% | ||||||||
| Amazon.com * | 814 | 157 | ||||||
| Chipotle Mexican Grill, Cl A * | 400 | 25 | ||||||
| DR Horton | 177 | 25 | ||||||
| Tesla * | 78 | 16 | ||||||
| 223 | ||||||||
| Consumer Staples – 3.9% | ||||||||
| Celsius Holdings * | 499 | 28 | ||||||
| Costco Wholesale | 82 | 70 | ||||||
| 98 | ||||||||
| Financials – 8.9% | ||||||||
| Goldman Sachs Group | 107 | 48 | ||||||
| Kinsale Capital Group | 79 | 31 | ||||||
| Mastercard, Cl A | 118 | 52 | ||||||
| Progressive | 183 | 38 | ||||||
| Visa, Cl A | 215 | 56 | ||||||
| 225 | ||||||||
| Health Care – 11.7% | ||||||||
| Boston Scientific * | 438 | 34 | ||||||
| Dexcom * | 397 | 45 | ||||||
| Eli Lilly | 93 | 84 | ||||||
| Intuitive Surgical * | 58 | 26 | ||||||
| Novo Nordisk ADR | 180 | 25 | ||||||
| UnitedHealth Group | 65 | 33 | ||||||
| Vertex Pharmaceuticals * | 104 | 49 | ||||||
| 296 | ||||||||
| Industrials – 8.9% | ||||||||
| Boeing * | 318 | 58 | ||||||
| Old Dominion Freight Line | 262 | 46 | ||||||
| Quanta Services | 179 | 46 | ||||||
| Symbotic, Cl A * | 823 | 29 | ||||||
| Vertiv Holdings, Cl A | 520 | 45 | ||||||
| 224 | ||||||||
| Information Technology – 41.6% | ||||||||
| Adobe * | 73 | 41 | ||||||
| Advanced Micro Devices * | 335 | 54 | ||||||
| Apple | 917 | 193 | ||||||
| ARM Holdings ADR * | 247 | 41 | ||||||
| Cadence Design Systems * | 82 | 25 | ||||||
| Crowdstrike Holdings, Cl A * | 127 | 49 | ||||||
| Microsoft | 578 | 258 | ||||||
| Monolithic Power Systems | 40 | 33 | ||||||
| NVIDIA | 1,800 | 222 | ||||||
| Palo Alto Networks * | 116 | 39 | ||||||
| ServiceNow * | 77 | 61 | ||||||
| Shopify, Cl A * | 246 | 16 | ||||||
| Workday, Cl A * | 80 | 18 | ||||||
| 1,050 | ||||||||
| Real Estate – 1.1% | ||||||||
| CoStar Group * | 387 | 29 | ||||||
| Total Common Stock | ||||||||
| (Cost $2,018) (000) | 2,453 | |||||||
| Total Investments — 97.1% | ||||||||
| (Cost $2,018) (000) | $ | 2,453 | ||||||
| Percentages are based on Net Assets of $2,525 (000). | |
| * | Non-income producing security. |
| ADR — American Depositary Receipt |
| Cl — Class |
RPF-QH-001-2700