Cross Shore Discovery Fund |
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Schedule of Investments |
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June 30, 2022 |
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(Unaudited) |
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Next |
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Initial |
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Available |
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% of |
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Acquisition |
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Redemption |
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Redemption |
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Portfolio Funds* |
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Net Assets |
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Cost(1) |
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Fair Value |
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Date |
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Frequency(2) |
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Date |
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Long/Short Generalist: |
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Atika Offshore Fund, Ltd., Class A, Series 1 |
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10.1% |
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$ 1,440,187 |
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$ 3,881,678 |
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1/2/2015 |
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Quarterly |
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9/30/2022 |
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EVR Offshore Partners Fund, Ltd., Class B, Series 1121 |
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4.8% |
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1,750,000 |
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1,838,111 |
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11/1/2021 |
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Quarterly |
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9/30/2022 |
(3)(4) |
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Hawk Ridge Partners Offshore, Ltd., Class A, Initial Series |
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6.3% |
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1,600,000 |
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2,445,561 |
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2/1/2018 |
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Quarterly |
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9/30/2022 |
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Hill City Capital Offshore Fund Ltd., Class A, Series 14 |
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5.0% |
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1,750,000 |
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1,925,963 |
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11/1/2021 |
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Quarterly |
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9/30/2022 |
(4)(7) |
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Rip Road Offshore Fund Ltd., Class E-1A, Series I00015782 |
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1.1% |
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750,000 |
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411,913 |
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8/1/2020 |
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Quarterly |
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9/30/2022 |
(4) |
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Rivulet Capital Offshore Fund, Ltd., Class A, Series 1 |
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1.3% |
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366,993 |
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518,338 |
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6/1/2015 |
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Quarterly |
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9/30/2022 |
(4) |
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Stony Point Capital Partners Offshore Ltd., Founders Class, Series 2020-08 |
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0.8% |
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500,000 |
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301,012 |
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8/1/2020 |
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Quarterly |
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9/30/2022 |
(4) |
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TCIM Offshore Fund Ltd., Class A-33, Series 2019-12 |
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6.0% |
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1,756,890 |
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2,317,513 |
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12/1/2019 |
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Monthly |
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7/31/2022 |
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Thames Absolute Return Offshore Fund, Ltd., Class B-2, Series 1 |
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5.5% |
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1,550,000 |
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2,130,652 |
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11/1/2017 |
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Quarterly |
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9/30/2022 |
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Wolf Hill Offshore Fund, Ltd., Class A-OS, Series 2021-07 |
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3.3% |
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1,300,000 |
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1,256,102 |
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7/1/2021 |
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Quarterly |
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9/30/2022 |
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Total Long/Short Generalist |
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44.2% |
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12,764,070 |
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17,026,843 |
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Long/Short Sector: |
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Energy |
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Encompass Capital Fund Offshore Ltd., Class A, Series 1 |
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8.3% |
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1,900,000 |
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3,201,300 |
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1/1/2020 |
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Quarterly |
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9/30/2022 |
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Financial Services |
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BHZ Consolidation Cayman Fund, LP, Class C |
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5.9% |
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1,950,000 |
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2,266,282 |
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5/1/2018 |
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Quarterly |
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9/30/2022 |
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Healthcare, Biotechnology |
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Avoro Life Sciences Offshore Fund Ltd., Class A-1 |
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9.3% |
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1,200,000 |
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3,589,916 |
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5/1/2017 |
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Quarterly |
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9/30/2022 |
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Biomedical Offshore Value Fund, Ltd., Class I, Series 200199-1 |
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7.1% |
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2,100,000 |
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2,726,905 |
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1/1/2019 |
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Quarterly |
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9/30/2022 |
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Total Healthcare, Biotechnology |
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16.4% |
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3,300,000 |
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6,316,821 |
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Healthcare, Consumer |
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Armistice Capital Offshore Fund Ltd., Class A, Series 2019-04B |
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0.0% |
(5) |
17,040 |
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4,579 |
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4/1/2019 |
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N/A |
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(6) |
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Armistice Capital Offshore Fund Ltd., Class A, Series 2015-09B |
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0.0% |
(5) |
4,503 |
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2,148 |
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9/1/2015 |
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N/A |
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(6) |
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Armistice Capital Offshore Fund Ltd., Class A, Series 2013-08B |
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0.0% |
(5) |
3,108 |
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1,627 |
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1/2/2015 |
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N/A |
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(6) |
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Total Armistice Capital Offshore Fund, Ltd. |
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0.0% |
(5) |
24,651 |
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8,354 |
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Technology, Media and Telecommunications |
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Atreides Foundation Fund, Ltd., Founders Class, Series F-2 |
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5.5% |
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1,585,524 |
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2,131,451 |
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5/15/2019 |
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Quarterly |
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9/30/2022 |
(4) |
Center Lake Capital, Ltd., Class A, Initial Series |
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4.3% |
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1,850,000 |
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1,648,422 |
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5/1/2019 |
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Semi-Annual |
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12/31/2022 |
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Total Technology, Media and Telecommunications |
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9.8% |
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3,435,524 |
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3,779,873 |
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Total Long/Short Sector |
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40.4% |
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10,610,175 |
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15,572,630 |
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Total Investments In Portfolio Funds |
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84.6% |
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$ 23,374,245 |
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$ 32,599,473 |
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% of |
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Money Market Funds |
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Net Assets |
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Cost |
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Fair Value |
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Shares |
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Federated Hermes Institutional Prime Obligations Fund, |
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Institutional Class, 1.44%(8) |
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9.1% |
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$ 3,505,718 |
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$ 3,504,199 |
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3,505,250 |
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Total Investments |
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93.7% |
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$ 26,879,963 |
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$ 36,103,672 |
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Other Assets in Excess of Liabilities |
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6.3% |
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$ 2,438,044 |
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Net Assets |
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100.0% |
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$ 38,541,716 |
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* Non-income producing security. |
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(1) There were no unfunded capital commitments as of June 30, 2022. |
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(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 or hard lock-up), investor-level gates and/or Portfolio Fund-level gates. Redemption notice periods range from 30 to 120 days. |
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(3) Subject to hard lock through March 31, 2023. |
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(4) Subject to 25% investor level quarterly gate. |
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(5) Amount is less than 0.05%. |
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(6) Redemptions are not permitted until the underlying special investments are sold/liquidated. |
(7) Subject to hard lock through December 31, 2022. |
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(8) Rate disclosed is the seven day effective yield as of June 30, 2022. |
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