0001752724-24-130770.txt : 20240611 0001752724-24-130770.hdr.sgml : 20240611 20240611145719 ACCESSION NUMBER: 0001752724-24-130770 CONFORMED SUBMISSION TYPE: N-CEN PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240331 FILED AS OF DATE: 20240611 DATE AS OF CHANGE: 20240611 EFFECTIVENESS DATE: 20240611 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CROSS SHORE DISCOVERY FUND CENTRAL INDEX KEY: 0001609706 ORGANIZATION NAME: IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: N-CEN SEC ACT: 1940 Act SEC FILE NUMBER: 811-22976 FILM NUMBER: 241035474 BUSINESS ADDRESS: STREET 1: ULTIMUS FUND SOLUTIONS, LLC STREET 2: 225 PICTORIA DRIVE, SUITE 450 CITY: CINCINNATI STATE: OH ZIP: 45246 BUSINESS PHONE: 513-587-3400 MAIL ADDRESS: STREET 1: ULTIMUS FUND SOLUTIONS, LLC STREET 2: 225 PICTORIA DRIVE, SUITE 450 CITY: CINCINNATI STATE: OH ZIP: 45246 FORMER COMPANY: FORMER CONFORMED NAME: Cross Shore Discovery Fund DATE OF NAME CHANGE: 20140602 N-CEN 1 primary_doc.xml X0404 N-CEN LIVE 0001609706 XXXXXXXX 811-22976 false false false N-2 Cross Shore Discovery Fund 811-22976 0001609706 549300FIOYAHZ5RDKV81 225 Pictoria Drive Suite 450 Cincinnati 45246 US-OH US 513-587-3400 Cross Shore Capital Management, LLC 111 Great Neck Road Suite 210 Great Neck 11021 516-684-4040 Books and records related to investment advisory services Ultimus Fund Distributors, LLC 225 Pictoria Drive Suite 450 Cincinnati 45246 513-587-3400 Books and records related to distribution services Ultimus Fund Solutions, LLC 225 Pictoria Drive Suite 450 Cincinnati 45246 513-587-3400 Books and records related to fund accounting, financial reporting, and transfer agency services Fifth Third Bank N.A. 38 Fountain Square Plaza Cincinnati 45202 513-699-5486 Books and records related to custody services N N N N-2 Y David J. Gruber N/A N Benjamin Bloomstone N/A Y Thomas E. Niehaus N/A N Martin Robert Dean 002500364 2 Easton Oval Suite 300 Columbus 43219 XXXXXX N N N N N N N Ultimus Fund Distributors, LLC 008-54623 000104177 N/A N N Cohen & Company, Ltd. 925 N/A N N N N N N Cross Shore Discovery Fund 549300FIOYAHZ5RDKV81 N 0 Fund of Funds Y N N N N/A N/A N/A Rule 12d1-1 (17 CFR 270.12d1-1) Y Y Y N Cross Shore Capital Management, LLC 801-65999 000136650 N/A N Ultimus Fund Solutions, LLC 084-05829 N/A N N N Intercontinental Exchange Inc. 5493000F4ZO33MV32P92 N N Fifth Third Bank, N.A. QFROUN1UWUYU0DVIWD51 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N Ultimus Fund Solutions, LLC 084-05829 SEC File Number N N N Ultimus Fund Solutions, LLC 084-05829 SEC File Number N N N 0 0 N 31415450.06 Other Shares of Beneficial Interest Shares of Beneficial Interest N N Other Units N N N 1.25 2.13 84.41 true INTERNAL CONTROL RPT 2 crossshore_ncen.htm

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders and Board of Trustees of Cross Shore Discovery Fund

In planning and performing our audit of the financial statements of Cross Shore Discovery Fund (the “Fund”) as of and for the year ended March 31, 2024, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Fund’s internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control over financial reporting. Accordingly, we express no such opinion.

The management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A fund’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles (GAAP). A fund’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the fund; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with GAAP, and that receipts and expenditures of the fund are being made only in accordance with authorizations of management and trustees of the fund; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a fund’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Fund’s annual or interim financial statements will not be prevented or detected on a timely basis.

Our consideration of the Fund’s internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Fund’s internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be a material weakness as defined above as of March 31, 2024.

This report is intended solely for the information and use of management and the Board of Trustees of the Fund and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.

/S/ COHEN & COMPANY, LTD.

COHEN & COMPANY, LTD.

Milwaukee, Wisconsin

May 28, 2024