Cross Shore Discovery Fund | ||||||||||||
Schedule of Investments | ||||||||||||
June 30, 2021 | ||||||||||||
(Unaudited) | ||||||||||||
Next | ||||||||||||
Initial | Available | |||||||||||
% of | Acquisition | Redemption | Redemption | |||||||||
Portfolio Funds* | Net Assets | Cost(1) | Fair Value | Date | Frequency(2) | Date | ||||||
Long/Short Generalist: | ||||||||||||
Atika Offshore Fund, Ltd., Class A, Series 1 | 9.5% | $ 1,440,187 | $ 4,456,446 | 1/2/2015 | Quarterly | 9/30/2021 | ||||||
BBCM Offshore Fund, Ltd., Class A, Series 2019-02 | 1.4% | 591,586 | 633,451 | 2/1/2019 | Quarterly | 9/30/2021(3) | ||||||
BBCM Offshore Fund, Ltd., Class A, Series 2019-07 | 1.7% | 800,000 | 802,903 | 7/1/2019 | Quarterly | 9/30/2021(3) | ||||||
BBCM Offshore Fund, Ltd., Class A, Series 2020-01 | 1.1% | 500,000 | 493,418 | 1/1/2020 | Quarterly | 9/30/2021(3) | ||||||
Total BBCM Offshore Fund, Ltd. | 4.2% | 1,891,586 | 1,929,772 | |||||||||
Bishop Rock Opportunity Offshore, Ltd., Class 2-NR, Series 17 | 6.5% | 2,750,000 | 3,049,410 | 3/1/2019 | Quarterly | 9/30/2021 | ||||||
Hawk Ridge Partners Offshore, Ltd., Class A, Initial Series | 5.6% | 1,600,000 | 2,624,426 | 2/1/2018 | Quarterly | 9/30/2021 | ||||||
Rip Road Offshore Fund Ltd., Class E-1A, Series I00015782 | 3.7% | 1,500,000 | 1,717,480 | 8/1/2020 | Quarterly | 9/30/2021(4)(5) | ||||||
Rivulet Capital Offshore Fund, Ltd., Class A, Series 1 | 5.0% | 1,444,101 | 2,319,576 | 6/1/2015 | Quarterly | 9/30/2021(5) | ||||||
Stoney Point Capital Partners Offshore Ltd., Founders Class, Series 2020-08 | 2.2% | 1,000,000 | 1,021,970 | 8/1/2020 | Quarterly | 9/30/2021(5) | ||||||
TCIM Offshore Fund, Ltd., Class A-33, Series 2019-12 | 5.0% | 1,756,890 | 2,317,547 | 12/1/2019 | Monthly | 7/31/2021 | ||||||
Thames Absolute Return Offshore Fund, Ltd., Class B-2, Series 1 | 5.4% | 1,550,000 | 2,540,722 | 11/1/2017 | Quarterly | 9/30/2021 | ||||||
Total Long/Short Generalist | 47.1% | 14,932,764 | 21,977,349 | |||||||||
Long/Short Sector: | ||||||||||||
Energy | ||||||||||||
Encompass Capital Fund Offshore, Ltd., Class A, Series 1 | 4.5% | 1,900,000 | 2,101,228 | 1/1/2020 | Quarterly | 9/30/2021 | ||||||
Financial Services | ||||||||||||
BHZ Consolidation Cayman Fund, LP, Class C | 3.5% | 1,750,000 | 1,642,227 | 5/1/2018 | Quarterly | 9/30/2021 | ||||||
BHZ Consolidation Cayman Fund, LP, Class C | 1.2% | 200,000 | 547,409 | 1/1/2020 | Quarterly | 9/30/2021 | ||||||
Total BHZ Consolidation Cayman Fund, LP | 4.7% | 1,950,000 | 2,189,636 | |||||||||
Healthcare, Biotechnology | ||||||||||||
Avoro Life Sciences Offshore Fund, Ltd., Class A-1 | 8.7% | 1,200,000 | 4,070,918 | 5/1/2017 | Quarterly | 9/30/2021 | ||||||
Biomedical Offshore Value Fund, Ltd., Class I, Series 200199-1 | 5.8% | 2,100,000 | 2,733,456 | 1/1/2019 | Quarterly | 9/30/2021 | ||||||
Total Healthcare, Biotechnology | 14.5% | 3,300,000 | 6,804,374 | |||||||||
Healthcare, Consumer | ||||||||||||
Armistice Capital Offshore Fund, Ltd., Class A, Series 2019-04B | 0.0% | (6) | 17,040 | 8,731 | 4/1/2019 | N/A | (7) | |||||
Armistice Capital Offshore Fund, Ltd., Class A, Series 2015-09B | 0.0% | (6) | 4,503 | 3,944 | 9/1/2015 | N/A | (7) | |||||
Armistice Capital Offshore Fund, Ltd., Class A, Series 2013-08B | 0.0% | (6) | 3,108 | 2,986 | 1/2/2015 | N/A | (7) | |||||
Total Armistice Capital Offshore Fund, Ltd. | 0.0% | (6) | 24,651 | 15,661 | ||||||||
Technology, Media and Telecommunications | ||||||||||||
Atreides Foundation Fund, Ltd., Founders Class, Series F-2 | 7.1% | 1,585,524 | 3,308,986 | 5/15/2019 | Quarterly | 9/30/2021(5) | ||||||
Center Lake Capital, Ltd., Class A, Initial Series | 5.1% | 1,850,000 | 2,384,616 | 5/1/2019 | Semi-Annual | 12/31/2021 | ||||||
Light Street Xenon, Ltd., Class A1, Series N | 6.5% | 1,541,962 | 3,029,680 | 1/2/2015 | Quarterly | 9/30/2021 | ||||||
Whale Rock Flagship Fund, Ltd., Class A-1, Series I000157582 | 6.7% | 1,241,653 | 3,147,819 | 4/1/2015 | Quarterly | 9/30/2021 | ||||||
Total Technology, Media and Telecommunications | 25.4% | 6,219,139 | 11,871,101 | |||||||||
Total Long/Short Sector | 49.1% | 13,393,790 | 22,982,000 | |||||||||
Total Investments In Portfolio Funds | 96.2% | $ 28,326,554 | $ 44,959,349 | |||||||||
% of | ||||||||||||
Money Market Funds | Net Assets | Cost | Fair Value | Shares | ||||||||
Federated Hermes Institutional Prime Obligations Fund, | ||||||||||||
Institutional Class, 0.03%(8) | 1.3% | 603,841 | $ 603,884 | 603,582 | ||||||||
Total Investments | 97.5% | $ 28,930,395 | $ 45,563,233 | |||||||||
Other Assets in Excess of Liabilities | 2.5% | $ 1,158,703 | ||||||||||
Net Assets | 100.0% | $ 46,721,936 | ||||||||||
* Non-income producing security. | ||||||||||||
(1) There were no unfunded capital commitments as of June 30, 2021. | ||||||||||||
(2) Certain redemptions may be subject to various restrictions and limitations such as redemption penalties on investments liquidated within a certain period subsequent to investment (e.g., a soft lock-up), investor-level gates and/or Portfolio Fund-level gates. Redemption notice periods range from 30 to 120 days. | ||||||||||||
(3) Subject to 50% investor level quarterly gate. | ||||||||||||
(4) Subject to 4% soft lock during the first year of investment. | ||||||||||||
(5) Subject to 25% investor level quarterly gate. | ||||||||||||
(6) Amount is less than 0.05%. | ||||||||||||
(7) Redemptions are not permitted until the underlying special investments are sold/liquidated. | ||||||||||||
(8) Rate disclosed is the seven day effective yield as of June 30, 2021. |