RiverPark Large Growth Fund
December 31, 2022 (Unaudited)
Description | Shares | Value (000) | ||||||
Schedule of Investments | ||||||||
Common Stock — 98.2%** | ||||||||
Communication Services – 21.5% | ||||||||
Alphabet, Cl A * | 9,285 | $ | 819 | |||||
Alphabet, Cl C * | 9,251 | 821 | ||||||
Meta Platforms, Cl A * | 9,208 | 1,108 | ||||||
Netflix * | 4,256 | 1,255 | ||||||
Pinterest, Cl A * | 46,336 | 1,125 | ||||||
Snap, Cl A * | 102,373 | 916 | ||||||
Walt Disney * | 11,895 | 1,034 | ||||||
7,078 | ||||||||
Consumer Discretionary – 10.3% | ||||||||
Amazon.com * | 15,512 | 1,303 | ||||||
Booking Holdings * | 479 | 966 | ||||||
Nike, Cl B | 9,454 | 1,106 | ||||||
3,375 | ||||||||
Financials – 10.5% | ||||||||
Blackstone, Cl A | 15,208 | 1,128 | ||||||
Charles Schwab | 18,681 | 1,556 | ||||||
KKR | 16,437 | 763 | ||||||
3,447 | ||||||||
Health Care – 5.7% | ||||||||
Illumina * | 3,181 | 643 | ||||||
Intuitive Surgical * | 4,594 | 1,219 | ||||||
1,862 | ||||||||
Industrials – 4.2% | ||||||||
Uber Technologies * | 55,939 | 1,383 | ||||||
Information Technology – 46.0% | ||||||||
Adobe * | 1,996 | 672 | ||||||
Adyen ADR * | 66,133 | 912 | ||||||
Apple | 11,383 | 1,479 | ||||||
Autodesk * | 5,323 | 995 | ||||||
Datadog, Cl A * | 9,262 | 681 | ||||||
Five9 * | 11,367 | 771 | ||||||
Intuit | 2,173 | 846 | ||||||
Mastercard, Cl A | 3,611 | 1,256 | ||||||
Microsoft | 6,854 | 1,644 | ||||||
NVIDIA | 4,867 | 711 | ||||||
PayPal Holdings * | 13,835 | 985 | ||||||
RingCentral, Cl A * | 20,899 | 740 | ||||||
ServiceNow * | 2,213 | 859 | ||||||
Shopify, Cl A * | 29,551 | 1,026 | ||||||
Visa, Cl A | 3,922 | 815 |
Description | Shares | Value (000) | ||||||
Workday, Cl A * | 4,377 | $ | 732 | |||||
15,124 | ||||||||
Total Common Stock | ||||||||
(Cost $26,281) (000) | 32,269 | |||||||
Total Investments — 98.2% | ||||||||
(Cost $26,281) (000) | $ | 32,269 |
Percentages are based on Net Assets of $32,871 (000). | |
* | Non-income producing security. |
** | More Narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting purposes. |
ADR — American Depositary Receipt |
Cl — Class |
For information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual or annual financial statements.
RPF-QH-001-2400
Wedgewood Fund
December 31, 2022 (Unaudited)
Description | Shares | Value (000) | ||||||
Schedule of Investments | ||||||||
Common Stock — 98.9%** | ||||||||
Communication Services – 10.8% | ||||||||
Alphabet, Cl A * | 16,735 | $ | 1,476 | |||||
Meta Platforms, Cl A * | 10,584 | 1,274 | ||||||
2,750 | ||||||||
Consumer Discretionary – 12.6% | ||||||||
Booking Holdings * | 441 | 889 | ||||||
Pool | 1,736 | 525 | ||||||
Tractor Supply | 7,944 | 1,787 | ||||||
3,201 | ||||||||
Energy – 3.6% | ||||||||
Texas Pacific Land | 388 | 910 | ||||||
Financials – 10.0% | ||||||||
First Republic Bank | 9,318 | 1,136 | ||||||
Progressive | 6,328 | 821 | ||||||
S&P Global | 1,790 | 599 | ||||||
2,556 | ||||||||
Health Care – 10.2% | ||||||||
Edwards Lifesciences * | 13,675 | 1,020 | ||||||
UnitedHealth Group | 3,007 | 1,594 | ||||||
2,614 | ||||||||
Industrials – 8.5% | ||||||||
Copart * | 20,071 | 1,222 | ||||||
Old Dominion Freight Line | 3,307 | 939 | ||||||
2,161 | ||||||||
Information Technology – 43.2% | ||||||||
Apple | 12,905 | 1,677 | ||||||
CDW | 9,336 | 1,667 | ||||||
Microsoft | 5,912 | 1,418 | ||||||
Motorola Solutions | 7,599 | 1,959 | ||||||
PayPal Holdings * | 16,515 | 1,176 | ||||||
Taiwan Semiconductor Manufacturing ADR | 18,569 | 1,383 | ||||||
Visa, Cl A | 8,251 | 1,714 | ||||||
10,994 | ||||||||
Total Common Stock | ||||||||
(Cost $20,048) (000) | 25,186 | |||||||
Total Investments — 98.9% | ||||||||
(Cost $20,048) (000) | $ | 25,186 |
Percentages are based on Net Assets of $25,456 (000). | |
* | Non-income producing security. |
** | More Narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting purposes. |
ADR — American Depositary Receipt |
Cl — Class |
For information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual or annual financial statements.
RPF-QH-001-2400
RiverPark Short Term High Yield Fund
December 31, 2022 (Unaudited)
Description | Face Amount (000)‡ | Value (000) | ||||||||||
Schedule of Investments | ||||||||||||
Corporate Obligations — 50.7% | ||||||||||||
Communication Services – 9.6% | ||||||||||||
CCO Holdings | ||||||||||||
4.000%, 03/01/23 (a) | 32,463 | $ | 32,342 | |||||||||
Linkem | ||||||||||||
8.702%, Euribor 3 Month + 6.500%, 02/09/23 (a) (b) | EUR | 18,796 | 20,070 | |||||||||
Quebecor Media | ||||||||||||
5.750%, 01/15/23 | 21,766 | 21,747 | ||||||||||
TEGNA | ||||||||||||
4.750%, 03/15/26 (a) | 16,239 | 15,774 | ||||||||||
89,933 | ||||||||||||
Consumer Discretionary – 6.8% | ||||||||||||
Ford Motor Credit | ||||||||||||
5.841%, ICE LIBOR USD 3 Month +1.235%, 02/15/23 (b) | 2,352 | 2,350 | ||||||||||
3.087%, 01/09/23 | 25,729 | 25,742 | ||||||||||
Marriott Ownership Resorts | ||||||||||||
6.125%, 09/15/25 (a) | 33,050 | 34,062 | ||||||||||
Toll Brothers Finance | ||||||||||||
4.375%, 04/15/23 | 1,090 | 1,085 | ||||||||||
63,239 | ||||||||||||
Consumer Staples – 4.7% | ||||||||||||
Albertsons | ||||||||||||
3.500%, 02/15/23 (a) | 31,112 | 30,964 | ||||||||||
Chobani | ||||||||||||
7.500%, 04/15/25 (a) | 13,656 | 13,319 | ||||||||||
44,283 | ||||||||||||
Energy – 12.4% | ||||||||||||
Cheniere Corpus Christi Holdings | ||||||||||||
7.000%, 06/30/24 | 19,894 | 20,154 | ||||||||||
DCP Midstream Operating | ||||||||||||
3.875%, 03/15/23 | 23,801 | 23,705 | ||||||||||
PBF Logistics | ||||||||||||
6.875%, 05/15/23 | 24,947 | 24,961 | ||||||||||
Talen Energy Supply | ||||||||||||
7.625%, 06/01/28 (a) (c) | 13,031 | 13,609 | ||||||||||
7.250%, 05/15/27 (a) (c) | 14,227 | 14,791 | ||||||||||
6.625%, 01/15/28 (a) (c) | 3,764 | 3,854 |
Description | Face Amount (000)‡ | Value (000) | ||||||||||
Transocean Sentry | ||||||||||||
5.375%, 05/15/23 (a) | 8,092 | $ | 8,020 | |||||||||
W&T Offshore | ||||||||||||
9.750%, 11/01/23 (a) | 6,812 | 6,716 | ||||||||||
115,810 | ||||||||||||
Financials – 0.5% | ||||||||||||
Stockwik Forvaltning | ||||||||||||
9.495%, STIBOR SEK 3-Month +7.000%, 09/03/23 (b) | SEK | 10,000 | 924 | |||||||||
StoneX Group | ||||||||||||
8.625%, 06/15/25 (a) | 3,842 | 3,887 | ||||||||||
4,811 | ||||||||||||
Health Care – 4.4% | ||||||||||||
Columbia Care | ||||||||||||
13.000%, 05/14/23 | 9,870 | 9,771 | ||||||||||
9.500%, 02/03/26 (a) | 8,000 | 7,855 | ||||||||||
Trulieve Cannabis | ||||||||||||
9.750%, 06/18/24 | 23,842 | 22,948 | ||||||||||
40,574 | ||||||||||||
Industrials – 7.3% | ||||||||||||
Ahern Rentals | ||||||||||||
7.375%, 05/15/23 (a) | 35,795 | 35,795 | ||||||||||
Cytec Industries | ||||||||||||
3.500%, 04/01/23 | 580 | 580 | ||||||||||
EnerSys | ||||||||||||
5.000%, 04/30/23 (a) | 10,253 | 10,247 | ||||||||||
IEA Energy Services | ||||||||||||
6.625%, 08/15/29 (a) | 8,025 | 7,583 | ||||||||||
Seaspan | ||||||||||||
6.500%, 02/05/24 (a) | 12,900 | 12,900 | ||||||||||
67,105 | ||||||||||||
Information Technology – 2.0% | ||||||||||||
Sprint | ||||||||||||
7.875%, 09/15/23 | 18,782 | 19,088 | ||||||||||
Materials – 1.9% | ||||||||||||
Freeport-McMoRan | ||||||||||||
3.875%, 03/15/23 | 15,352 | 15,335 | ||||||||||
Reliance Steel & Aluminum | ||||||||||||
4.500%, 04/15/23 | 2,367 | 2,367 | ||||||||||
17,702 |
RiverPark Short Term High Yield Fund
December 31, 2022 (Unaudited)
Description | Face Amount (000)‡ | Value (000) | ||||||||||
Utilities – 1.1% | ||||||||||||
Southern | ||||||||||||
8.399%, ICE LIBOR USD 3 Month +3.630%, 03/15/57 (b) | 10,117 | $ | 10,117 | |||||||||
Total Corporate Obligations | ||||||||||||
(Cost $477,587) (000) | 472,662 | |||||||||||
Commercial Paper — 22.5% | ||||||||||||
Consumer Discretionary – 2.1% | ||||||||||||
General Motors | ||||||||||||
4.989%, 01/26/23 (d) | 10,000 | 9,963 | ||||||||||
4.834%, 01/10/23 (d) | 9,985 | |||||||||||
10,000 | 19,948 | |||||||||||
Consumer Staples – 4.7% | ||||||||||||
Constellation Brands | ||||||||||||
5.155%, 02/07/23 (d) | 17,901 | |||||||||||
Walgreens | 18,000 | |||||||||||
5.065%, 02/13/23 (d) | 25,609 | 25,454 | ||||||||||
43,355 | ||||||||||||
Energy – 1.6% | ||||||||||||
Targa Resources | ||||||||||||
5.052%, 01/03/23 (d) | 15,000 | 14,993 | ||||||||||
— | ||||||||||||
Health Care – 2.0% | ||||||||||||
Humana | ||||||||||||
4.882%, 01/11/23 (d) | 18,708 | |||||||||||
18,737 | — | |||||||||||
Industrials – 2.1% | ||||||||||||
Dover | ||||||||||||
4.558%, 01/10/23 (d) | 19,817 | 19,789 | ||||||||||
— | ||||||||||||
Information Technology – 7.0% | ||||||||||||
HP | ||||||||||||
4.800%, 01/23/23 (d) | 24,449 | 24,373 | ||||||||||
Jabil | ||||||||||||
5.321%, 01/13/23 (d) | 14,071 | 14,043 | ||||||||||
5.263%, 01/17/23 (d) | 7,000 | 6,982 | ||||||||||
Oracle | ||||||||||||
4.607%, 01/13/23 (d) | 19,817 | 19,785 | ||||||||||
65,183 | ||||||||||||
Materials – 1.9% | ||||||||||||
Shermin Williams | ||||||||||||
4.526%, 01/17/23 (d) | 18,000 | 17,960 |
Description | Face Amount (000)‡/ Shares | Value (000) | ||||||||||
Real Estate – 1.1% | ||||||||||||
Crown Castle | ||||||||||||
5.084%, 01/17/23 (d) | 9,800 | $ | 9,776 | |||||||||
— | ||||||||||||
Total Commercial Paper | ||||||||||||
(Cost $209,752) (000) | 209,712 | |||||||||||
Special Purpose Acquisition Companies — 11.9% | ||||||||||||
Common Stock– 11.9% | ||||||||||||
Diversified Financials – 11.9% | ||||||||||||
Alpha Partners Technology Merger, Cl A * | 211,450 | 2,125 | ||||||||||
Alpha Partners Technology Merger Founder Shares *(e) | 45,106 | 4 | ||||||||||
Anzu Special Acquisition I, Cl A * | 98,738 | 997 | ||||||||||
Apollo Strategic Growth Capital II, Cl A * | 200,000 | 2,004 | ||||||||||
ARYA Sciences Acquisition V, Cl A * | 381,152 | 3,808 | ||||||||||
Atlantic Coastal Acquisition, Cl A * | 179,019 | 1,794 | ||||||||||
Ault Disruptive Technologies * | 255,000 | 2,614 | ||||||||||
AxonPrime Infrastructure Acquisition Founder Shares *(e) | 22,000 | 1 | ||||||||||
Biotech Acquisition, Cl A * | 799,001 | 8,070 | ||||||||||
Catalyst Partners Acquisition, Cl A * | 150,000 | 1,512 | ||||||||||
Crescera Capital Acquisition, Cl A * | 200,000 | 2,044 | ||||||||||
Crown PropTech Acquisitions, Cl A * | 822,131 | 8,312 | ||||||||||
Direct Selling Acquisition, Cl A * | 300,443 | 3,092 | ||||||||||
Elliott Opportunity II, Cl A * | 195,208 | 1,968 | ||||||||||
G Squared Ascend I, Cl A * | 110,000 | 1,112 | ||||||||||
G Squared Ascend II, Cl A * | 50,000 | 507 | ||||||||||
Global Partner Acquisition II, Cl A * | 504,706 | 5,103 | ||||||||||
GP Bullhound Acquisition I, Cl A * | EUR | 274,873 | 2,928 |
RiverPark Short Term High Yield Fund
December 31, 2022 (Unaudited)
Description | Shares/ Number of Rights | Value (000) | ||||||||||
Hambro Perks Acquisition, Cl A * | GBP | 494,686 | $ | 6,040 | ||||||||
HCM ACQUISITION CORP, Cl A * | 255,000 | 2,616 | ||||||||||
Iconic Sports Acquisition, Cl A * | 404,195 | 4,179 | ||||||||||
InFinT Acquisition, Cl A * | 200,000 | 2,072 | ||||||||||
Innovative International Acquisition, Cl A * | 142,500 | 1,468 | ||||||||||
Investcorp Europe Acquisition I, Cl A * | 340,000 | 3,502 | ||||||||||
Kairos Acquisition, Cl A | 350,000 | 3,528 | ||||||||||
Kismet Acquisition Two, Cl A * | 50,000 | 505 | ||||||||||
Learn CW Investment, Cl A * | 209,050 | 2,111 | ||||||||||
Liberty Resources Acquisition, Cl A * | 50,000 | 510 | ||||||||||
M3-Brigade Acquisition II, Cl A * | 143,007 | 1,433 | ||||||||||
M3-Brigade Acquisition III, Cl A * | 358,543 | 3,636 | ||||||||||
Mercato Partners Acquisition, Cl A * | 400,000 | 4,108 | ||||||||||
North Atlantic Acquisition, Cl A * | 300,000 | 3,033 | ||||||||||
Onyx Acquisition I, Cl A * | 70,000 | 721 | ||||||||||
Pontem, Cl A * | 369,859 | 3,739 | ||||||||||
Semper Paratus Acquisition, Cl A * | 175,000 | 1,808 | ||||||||||
Silver Spike Acquisition II, Cl A * | 80,000 | 807 | ||||||||||
Sizzle Acquisition * | 75,000 | 766 | ||||||||||
Spree Acquisition 1 * | 702,000 | 7,231 | ||||||||||
Tristar Acquisition I, Cl A * | 40,000 | 404 | ||||||||||
TZP Strategies Acquisition, Cl A * | 200,000 | 2,020 | ||||||||||
Vision Sensing Acquisition, Cl A * | 487,960 | 5,050 | ||||||||||
Western Acquisition Ventures * | 157,143 | 1,600 | ||||||||||
110,882 | ||||||||||||
Rights– 0.0% | ||||||||||||
Diversified Financials – 0.0% | ||||||||||||
AIB Acquisition | 350,000 | 39 |
Description | Number of Rights/Warrants/ Face Amount (000)‡ | Value (000) | ||||||||||
Broad Capital Acquisition | 350,000 | $ | 35 | |||||||||
Kairous Acquisition ltd * | 89,501 | 13 | ||||||||||
Mountain Crest Acquisition V * | 47,909 | 10 | ||||||||||
97 | ||||||||||||
Warrants– 0.0% | ||||||||||||
Diversified Financials – 0.0% | ||||||||||||
GP Bullhound Acquisition I | ||||||||||||
Expires 03/11/2027, Strike Price 11.50 * | EUR | 137,504 | 48 | |||||||||
Hambro Perks Acquisition | ||||||||||||
Expires 06/30/2024, Strike Price 11.50 * | GBP | 309,843 | 30 | |||||||||
78 | ||||||||||||
Total Special Purpose Acquisition Companies | ||||||||||||
(Cost $109,140) (000) | 111,057 | |||||||||||
Convertible Bond — 6.8% | ||||||||||||
Information Technology – 6.8% | ||||||||||||
Zendesk | ||||||||||||
0.625%, 06/15/25 | 63,509 | 63,395 | ||||||||||
Total Convertible Bond | ||||||||||||
(Cost $63,159) (000) | 63,395 | |||||||||||
Bank Loan Obligations — 4.5% | ||||||||||||
Communication Services – 2.3% | ||||||||||||
Gray Television | ||||||||||||
6.869%, 02/07/24 (f) | 6,211 | 6,197 | ||||||||||
Univision Communications, 1st Lien | ||||||||||||
7.134%, 03/15/24 (f) | 15,328 | 15,293 | ||||||||||
21,490 | ||||||||||||
Helath Care – 1.6% | ||||||||||||
WP City Bidco | ||||||||||||
7.634%, 12/22/28 | 14,846 | 14,810 |
RiverPark Short Term High Yield Fund
December 31, 2022 (Unaudited)
Description | Face Amount (000)‡ | Value (000) | ||||||
Information Technology – 0.6% | ||||||||
MoneyGram Payment, 1st Lien | ||||||||
8.884%, 07/14/26 | 5,238 | $ | 5,213 | |||||
Total Bank Loan Obligations | ||||||||
(Cost $41,501) (000) | 41,513 | |||||||
Total Investments — 96.4% | ||||||||
(Cost $901,139) (000) | $ | 898,339 |
A list of the open forward foreign currency contracts held by the Fund at December 31, 2022, is as follows (000): | ||||||||||||||||||
Counterparty | Maturity Date | Currency to Deliver | Currency to Receive | Unrealized Appreciation (Depreciation) | ||||||||||||||
Brown Brothers Harriman | 01/05/23 | SEK | 9,752 | USD | 945 | $ | 10 | |||||||||||
Brown Brothers Harriman | 01/05/23 | GBP | 4,996 | USD | 6,090 | 50 | ||||||||||||
Brown Brothers Harriman | 01/05/23 | EUR | 21,756 | USD | 22,896 | (394 | ) | |||||||||||
| $ | (334 | ) |
Percentages are based on Net Assets of $931,605 (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 December 31, 2022, these securities amounted to $271,788 (000) or 29.2% 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) | Security in default on interest payments. |
(d) | Zero coupon security. The rate reported on the Schedule of Investments is the effective yield at the time of purchase. |
(e) | Level 3 security in accordance with fair value hierarchy. As of December 31, 2022, the total amount of Level 3 securities held by the Fund was $5 (000). |
(f) | Unsettled bank loan. Interest rate may not be available. |
Cl — Class |
EUR — Euro |
EURIBOR— Euro London Interbank Offered Rate |
GBP— Great British Pound Sterling |
ICE— Intercontinental Exchange |
LIBOR— London Interbank Offered Rate |
SEK — Swedish Krona |
STIBOR — Stockholm Interbank Offered Rate |
USD — U.S. Dollar |
Amounts designated as “—” are $0 or have been rounded to $0.
For information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual or annual financial statements.
RPF-QH-001-2400
RiverPark Long/Short Opportunity Fund
December 31, 2022 (Unaudited)
Description | Shares | Value (000) | ||||||
Schedule of Investments | ||||||||
Common Stock — 93.3%** | ||||||||
Communication Services – 23.4% | ||||||||
Alphabet, Cl A * | 15,027 | $ | 1,326 | |||||
Alphabet, Cl C * | 14,994 | 1,330 | ||||||
Meta Platforms, Cl A *(a) | 10,029 | 1,207 | ||||||
Netflix * | 6,808 | 2,008 | ||||||
Pinterest, Cl A * | 69,337 | 1,684 | ||||||
Snap, Cl A * | 196,704 | 1,760 | ||||||
Walt Disney * | 22,392 | 1,945 | ||||||
11,260 | ||||||||
Consumer Discretionary – 11.0% | ||||||||
Amazon.com * | 24,724 | 2,077 | ||||||
Booking Holdings * | 718 | 1,447 | ||||||
Nike, Cl B | 14,909 | 1,745 | ||||||
5,269 | ||||||||
Financials – 6.3% | ||||||||
Blackstone, Cl A (b) | 23,514 | 1,745 | ||||||
KKR | 27,455 | 1,274 | ||||||
3,019 | ||||||||
Health Care – 6.1% | ||||||||
Illumina * | 5,853 | 1,183 | ||||||
Intuitive Surgical * | 6,530 | 1,733 | ||||||
2,916 | ||||||||
Industrials – 4.5% | ||||||||
Uber Technologies * | 87,064 | 2,153 | ||||||
Information Technology – 42.0% | ||||||||
Adobe * | 3,202 | 1,078 | ||||||
Adyen ADR | 101,752 | 1,404 | ||||||
Apple | 17,599 | 2,287 | ||||||
Autodesk *(a) | 7,438 | 1,390 | ||||||
Datadog, Cl A * | 16,614 | 1,221 | ||||||
Five9 * | 19,378 | 1,315 | ||||||
Intuit | 3,957 | 1,540 | ||||||
Mastercard, Cl A (a) | 3,107 | 1,080 | ||||||
Microsoft | 10,646 | 2,553 | ||||||
NVIDIA (a) | 268 | 39 | ||||||
PayPal Holdings * | 24,009 | 1,710 | ||||||
ServiceNow * | 3,670 | 1,425 | ||||||
Shopify, Cl A * | 50,353 | 1,748 | ||||||
Visa, Cl A | 5,834 | 1,212 |
Description | Shares | Value (000) | ||||||
Workday, Cl A *(a) | 980 | $ | 164 | |||||
20,166 | ||||||||
Total Common Stock | ||||||||
(Cost $40,157) (000) | 44,783 | |||||||
Total Investments — 93.3% | ||||||||
(Cost $40,157) (000) | $ | 44,783 |
RiverPark Long/Short Opportunity Fund
December 31, 2022 (Unaudited)
A list of open swap agreements held by the Fund at December 31, 2022 was as follows:
Long Exposure
Company Reference | Counterparty | Fund Pays | Payment Frequency1 | Maturity Date | Notional Amount (000) | Value (000) † | Net Unrealized Appreciation/ (Depreciation) (000)† | ||||||||||||||||
Autodesk | Goldman Sachs International | USD-SOFR + 0.61% | Maturity | 01/31/2024 | $ | 61 | $ | 61 | $ | — | |||||||||||||
Charles Schwab | Goldman Sachs International | USD-SOFR + 0.61% | Maturity | 03/30/2023 | 2,124 | 2,163 | 39 | ||||||||||||||||
MasterCard, Inc., Class A | Goldman Sachs International | USD-SOFR + 0.61% | Maturity | 06/07/2023 | 862 | 837 | (25 | ) | |||||||||||||||
Meta Platforms, Class A | Goldman Sachs International | USD-SOFR + 0.61% | Maturity | 10/30/2023 | 930 | 812 | (118 | ) | |||||||||||||||
Nvidia | Goldman Sachs International | USD-SOFR + 0.61% | Maturity | 03/28/2023 | 1,516 | 986 | (530 | ) | |||||||||||||||
RingCentral | Goldman Sachs International | USD-SOFR + 0.61% | Maturity | 01/19/2023 | 6,451 | 1,132 | (5,319 | ) | |||||||||||||||
Workday Class A | Goldman Sachs International | USD-SOFR + 0.61% | Maturity | 09/28/2023 | 959 | 950 | (9 | ) | |||||||||||||||
$ | 12,903 | $ | 6,941 | $ | (5,962 | ) |
Short Exposure
Company Reference | Counterparty | Fund Receives | Fund Pays | Payment Frequency1 | Maturity Date | Notional Amount (000) | Value (000) † | Net Unrealized Appreciation/ (Depreciation) (000)† | ||||||||||||||||||||||
Airbnb, Class A | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 01/10/2024 | $ | (335 | ) | $(311) | $24 | |||||||||||||||||||
Amcor PLC | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 01/18/2024 | (306 | ) | (298) | 8 | ||||||||||||||||||||
Capital One Financial Corp | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 11/24/2023 | (323 | ) | (316) | 7 | ||||||||||||||||||||
Carmax | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 11/24/2023 | (415 | ) | (429) | (14) | ||||||||||||||||||||
Clorox Co. | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 03/27/2023 | (265 | ) | (255) | 10 | ||||||||||||||||||||
Cogent Communications | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 11/15/2023 | (416 | ) | (494) | (78) | ||||||||||||||||||||
Conagra Brands | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 02/07/2023 | (236 | ) | (280) | (44) | ||||||||||||||||||||
Delta Air Lines | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 01/10/2024 | (333 | ) | (314) | 19 | ||||||||||||||||||||
Discover Financial Services | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 11/24/2023 | (370 | ) | (382) | (12) | ||||||||||||||||||||
Flex Ltd. | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 04/12/2023 | (369 | ) | (513) | (144) | ||||||||||||||||||||
Harley-Davidson | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 09/07/2023 | (418 | ) | (434) | (16) | ||||||||||||||||||||
Hilton Worldwide Holdings | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 01/18/2024 | (312 | ) | (302) | 10 | ||||||||||||||||||||
Huntsman | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 01/18/2024 | (303 | ) | (309) | (6) | ||||||||||||||||||||
Industrial Select Sector SPDR | Goldman Sachs International | USD-SOFR | -0.65 | % | Maturity | 06/22/2023 | (1,833 | ) | (1,870) | (37) | ||||||||||||||||||||
IShares MSCI Eurozone ETF | Goldman Sachs International | USD-SOFR | -0.76 | % | Maturity | 09/12/2023 | (2,161 | ) | (2,222) | (61) |
RiverPark Long/Short Opportunity Fund
December 31, 2022 (Unaudited)
Short Exposure (continued)
Company Reference | Counterparty | Fund Receives | Fund Pays | Payment Frequency1 | Maturity Date | Notional Amount (000) | Value (000) † | Net Unrealized Appreciation/ (Depreciation) (000)† | ||||||||||||||||||||||
Kimberly-Clark | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 06/22/2023 | $ | (251 | ) | $ | (274 | ) | $(23) | |||||||||||||||||
Las Vegas Sands Corp. | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 01/10/2024 | (318 | ) | (323 | ) | (5) | |||||||||||||||||||
Lyondellbasell Industries N.V., Class A | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 01/18/2024 | (217 | ) | (221 | ) | (4) | |||||||||||||||||||
Marriott International, Class A | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 01/18/2024 | (311 | ) | (304 | ) | 7 | |||||||||||||||||||
Mondelez International | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 01/12/2023 | (247 | ) | (271 | ) | (24) | |||||||||||||||||||
Ralph Lauren Corp, Class A | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 01/10/2024 | (326 | ) | (316 | ) | 10 | |||||||||||||||||||
RH | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 10/17/2023 | (454 | ) | (455 | ) | (1) | |||||||||||||||||||
SPDR S&P Homebuilders ETF | Goldman Sachs International | USD-SOFR | -1.20 | % | Maturity | 07/17/2023 | (1,562 | ) | (1,496 | ) | 66 | |||||||||||||||||||
Squarespace | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 08/16/2023 | (334 | ) | (353 | ) | (19) | |||||||||||||||||||
Synchrony Financial | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 11/24/2023 | (374 | ) | (385 | ) | (11) | |||||||||||||||||||
United Airlines Holdings | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 01/18/2024 | (275 | ) | (261 | ) | 14 | |||||||||||||||||||
Wynn Resorts, Limited | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 01/10/2024 | (324 | ) | (313 | ) | 11 | |||||||||||||||||||
Zoom Video Communications, Class A | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 09/28/2023 | (265 | ) | (218 | ) | 47 | |||||||||||||||||||
$ | (13,653 | ) | $ | (13,919 | ) | $(266) |
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 $47,985 (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. |
(b) | This security or a partial position of this security has been committed as collateral for Total Return Swaps. The aggregate market value of the cash collateral as of December 31, 2022 was $6,410 (000). |
Cl — Class |
ETF — Exchange Traded Fund |
Ltd. — Limited |
MSCI — Morgan Stanley Capital International |
PLC — Public Limited Company |
SOFR — Secured Overnight Financing Rate |
S&P — Standard & Poor's |
SPDR — Standard & Poor's Depository Receipt |
USD — United States Dollar |
Amounts designated as “—” are $0 or have been rounded to $0.
For information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual or annual financial statements.
RPF-QH-001-2400
RiverPark Strategic Income Fund
December 31, 2022 (Unaudited)
Description | Face Amount (000)‡ | Value (000) | ||||||||||
Schedule of Investments | ||||||||||||
Corporate Obligations — 44.1% | ||||||||||||
Communication Services – 6.3% | ||||||||||||
CCO Holdings | ||||||||||||
4.000%, 03/01/23 (a) | 1,674 | $ | 1,667 | |||||||||
Clear Channel International BV | ||||||||||||
6.625%, 08/01/25 (a) | 2,090 | 1,997 | ||||||||||
6.625%, 08/01/25 (a) | 2,489 | 2,379 | ||||||||||
Connect Finco SARL | ||||||||||||
6.750%, 10/01/26 (a) | 2,422 | 2,250 | ||||||||||
Getty Images | ||||||||||||
9.750%, 03/01/27 (a) | 2,568 | 2,539 | ||||||||||
Go North Group | ||||||||||||
13.763%, STIBOR SEK 3-Month + 12.000%, 07/15/25 (b) | SEK | 5,000 | 479 | |||||||||
Linkem | ||||||||||||
8.702%, Euribor 3 Month + 6.500%, 02/09/23 (a) (b) | EUR | 3,400 | 3,630 | |||||||||
14,941 | ||||||||||||
Consumer Discretionary – 4.3% | ||||||||||||
99 Escrow Issuer | ||||||||||||
7.500%, 01/15/26 (a) | 4,193 | 2,144 | ||||||||||
Anagram International | ||||||||||||
15.000%cash/0% PIK, 08/15/25 (a) | 1,592 | 1,523 | ||||||||||
Georg Jensen | ||||||||||||
7.762%, Euribor 3 Month + 6.000%, 05/15/23 (b) | EUR | 1,100 | 1,169 | |||||||||
G-III Apparel Group | ||||||||||||
7.875%, 08/15/25 (a) | 1,376 | 1,286 | ||||||||||
Hercules Achievement | ||||||||||||
12.754%, ICE LIBOR USD 3 Month + 8.000%, 12/22/24 (a) (b) | 554 | 531 | ||||||||||
Jacktel | ||||||||||||
10.000%, 12/04/23 (a) | 820 | 759 | ||||||||||
10.000%, 12/04/23 | 200 | 200 | ||||||||||
Lifefit Group Midco GmbH | ||||||||||||
9.678%, Euribor 3 Month + 7.500%, 01/26/25 (b) | EUR | 1,160 | 1,239 | |||||||||
MHH Holding BV | ||||||||||||
11.592%, ICE LIBOR USD 3 Month + 7.000%, 02/10/25 (b) | 1,292 | 1,311 | ||||||||||
10,162 |
Description | Face Amount (000)‡ | Value (000) | ||||||||||
Consumer Staples – 1.2% | ||||||||||||
Chobani | ||||||||||||
7.500%, 04/15/25 (a) (c) | 2,591 | $ | 2,527 | |||||||||
United Natural Foods | ||||||||||||
6.750%, 10/15/28 (a) | 250 | 241 | ||||||||||
2,768 | ||||||||||||
Energy – 9.7% | ||||||||||||
Golar LNG | ||||||||||||
7.000%, 10/20/25 (a) | 1,962 | 1,947 | ||||||||||
Greenfire Resources | ||||||||||||
12.000%, 08/15/25 (a) | 1,330 | 1,424 | ||||||||||
International Petroleum | ||||||||||||
7.250%, 02/01/27 (a) | 3,132 | 2,913 | ||||||||||
Martin Midstream Partners | ||||||||||||
11.500%, 02/28/25 (a) | 1,838 | 1,841 | ||||||||||
10.000%, 02/29/24 (a) | 3,457 | 3,473 | ||||||||||
Mime Petroleum | ||||||||||||
10.250%, 11/10/26 | 550 | 499 | ||||||||||
Talen Energy Supply | ||||||||||||
7.625%, 06/01/28 (a) (d) | 3,376 | 3,526 | ||||||||||
7.250%, 05/15/27 (a) (d) | 1,358 | 1,412 | ||||||||||
6.625%, 01/15/28 (a) (d) | 3,863 | 3,956 | ||||||||||
Transocean | ||||||||||||
7.500%, 04/15/31 | 1,008 | 677 | ||||||||||
W&T Offshore | ||||||||||||
9.750%, 11/01/23 (a) | 1,566 | 1,544 | ||||||||||
23,212 | ||||||||||||
Financials – 3.6% | ||||||||||||
Aker Horizons | ||||||||||||
6.610%, NIBOR 3 Month + 3.250%, 08/15/25 (b) | NOK | 8,500 | 819 | |||||||||
LR Global Holding GmbH | ||||||||||||
9.204%, Euribor 3 Month + 7.250%, 02/03/25 (b) | EUR | 2,129 | 1,914 | |||||||||
StoneX Group | ||||||||||||
8.625%, 06/15/25 (a) (c) | 5,685 | 5,752 | ||||||||||
8,485 | ||||||||||||
Health Care – 2.6% | ||||||||||||
Columbia Care | ||||||||||||
9.500%, 02/03/26 (a) | 5,068 | 4,976 | ||||||||||
Prosomnus Holdings | ||||||||||||
Prime Rate + 6.500%, 04/06/26 (f) | 1,513 | 1,300 | ||||||||||
6,276 | ||||||||||||
Industrials – 10.1% | ||||||||||||
Altera Shuttle Tankers | ||||||||||||
9.500%, 12/15/25 | 1,200 | 1,025 |
RiverPark Strategic Income Fund
December 31, 2022 (Unaudited)
Description | Face Amount (000)‡ | Value (000) | ||||||||||
FXI Holdings | ||||||||||||
12.250%, 11/15/26 (a) | 2,331 | $ | 1,940 | |||||||||
Hawaiian Airlines Pass-Through Certificates, Ser 2013-1, Cl A | ||||||||||||
3.900%, 01/15/26 | 5,240 | 4,496 | ||||||||||
Icahn Enterprises | ||||||||||||
4.750%, 09/15/24 | 3,870 | 3,719 | ||||||||||
IEA Energy Services | ||||||||||||
6.625%, 08/15/29 (a) | 6,723 | 6,353 | ||||||||||
Innovate | ||||||||||||
8.500%, 02/01/26 (a) (c) | 7,002 | 5,037 | ||||||||||
XPO CNW | ||||||||||||
6.700%, 05/01/34 | 1,835 | 1,633 | ||||||||||
24,203 | ||||||||||||
Information Technology – 1.2% | ||||||||||||
Azerion Holding BV | ||||||||||||
7.250%, 04/28/24 | EUR | 500 | 522 | |||||||||
Diebold Nixdorf | ||||||||||||
8.500%, 10/15/26 (a) | 869 | 522 | ||||||||||
Duett Software Group | ||||||||||||
8.080%, NIBOR 3 Month + 5.000%, 04/12/26 (b) | NOK | 4,589 | 445 | |||||||||
DXC Technology | ||||||||||||
2.375%, 09/15/28 | 672 | 568 | ||||||||||
LINK Mobility Group Holding | ||||||||||||
3.375%, 12/15/25 | EUR | 800 | 729 | |||||||||
2,786 | ||||||||||||
Materials – 5.1% | ||||||||||||
Copper Mountain Mining | ||||||||||||
8.000%, 04/09/26 (a) | 4,021 | 3,845 | ||||||||||
Impala BondCo | ||||||||||||
10.757%, STIBOR SEK 3-Month + 9.000%, 10/20/24 (b) | SEK | 7,500 | 676 | |||||||||
Infrabuild Australia Pty | ||||||||||||
12.000%, 10/01/24 (a) | 4,766 | 4,630 | ||||||||||
Tacora Resources | ||||||||||||
8.250%, 05/15/26 (a) | 4,367 | 3,169 | ||||||||||
12,320 | ||||||||||||
Total Corporate Obligations | ||||||||||||
(Cost $112,780) (000) | 105,153 |
Description | Face Amount (000)‡ | Value (000) | ||||||||||
Commercial Paper — 21.2% | ||||||||||||
Consumer Discretionary – 1.3% | ||||||||||||
General Motors | ||||||||||||
4.834%, 01/10/23 (e) | $ | 3,061 | ||||||||||
3,065 | ||||||||||||
Consumer Staples – 6.7% | ||||||||||||
Conagara Brands | ||||||||||||
5.017%, 01/09/23 (e) | 4,000 | 3,995 | ||||||||||
Constellation Brands | ||||||||||||
5.022%, 01/12/23 (e) | 5,400 | 5,390 | ||||||||||
5.020%, 01/10/23 (e) | 250 | 250 | ||||||||||
Walgreens | ||||||||||||
5.067%, 02/13/23 (e) | 6,364 | 6,325 | ||||||||||
15,960 | ||||||||||||
Health Care – 1.7% | ||||||||||||
Humana | ||||||||||||
4.986%, 02/06/23 (e) | 4,000 | 3,980 | ||||||||||
Industrials – 3.0% | ||||||||||||
Dover | ||||||||||||
4.684%, 01/05/23 (e) | 3,953 | 3,950 | ||||||||||
ITT | ||||||||||||
4.730%, 01/11/23 (e) | 3,275 | 3,270 | ||||||||||
7,220 | ||||||||||||
Information Technology – 3.1% | ||||||||||||
Jabil | ||||||||||||
5.323%, 01/13/23 (e) | 4,000 | 3,992 | ||||||||||
Oracle | ||||||||||||
4.562%, 01/13/23 (e) | 3,371 | 3,366 | ||||||||||
7,358 | ||||||||||||
Materials – 1.9% | ||||||||||||
Eastman Chemical | ||||||||||||
4.832%, 01/10/23 (e) | 4,675 | 4,668 | ||||||||||
Real Estate – 1.7% | ||||||||||||
Crown Castle | ||||||||||||
5.085%, 01/17/23 (e) | 4,040 | 4,030 | ||||||||||
Utilities – 1.8% | ||||||||||||
Brookfield Infrastructure | ||||||||||||
4.988%, 01/24/23 (e) | 4,325 | 4,311 | ||||||||||
Total Commercial Paper | ||||||||||||
(Cost $50,596) (000) | 50,588 |
RiverPark Strategic Income Fund
December 31, 2022 (Unaudited)
Description | �� | Face Amount (000)‡ | Value (000) | |||||
Bank Loan Obligations — 11.2% | ||||||||
Communication Services – 1.0% | ||||||||
Getty Images, Inc., Initial Dollar Term Loan, 1st Lien | ||||||||
8.938%, LIBOR + 4.500%, 02/19/26 (b) | 2,382 | $ | 2,376 | |||||
Consumer Discretionary – 6.9% | ||||||||
Cengage Learning, Inc., Term B Loan, 1st Lien | ||||||||
7.814%, LIBOR + 4.750%, 07/14/26 (b) | 2,000 | 1,794 | ||||||
Chefs' Warehouse, Inc., The, 2022 Term Loan, 1st Lien | ||||||||
9.173%, CME Term SOFR + 4.750%, 08/17/29 | 542 | 536 | ||||||
Crocs, Inc., Term Loan, 1st Lien | ||||||||
8.481%, CME Term SOFR + 3.500%, 02/20/29 (b) | 3,061 | 2,996 | ||||||
First Brands Group, LLC, 2021 Term Loan, 1st Lien | ||||||||
8.369%, CME Term SOFR + 5.000%, 03/30/27 | 182 | 172 | ||||||
First Brands Group, LLC, Initial Term Loan, 2nd Lien | ||||||||
11.871%, LIBOR + 8.500%, 03/30/28 | 3,393 | 3,043 | ||||||
Fogo de Chao Inc., 2018 Refinancing Term Loan, 1st Lien | ||||||||
8.634%, LIBOR + 4.250%, 07/04/25 | 876 | 823 | ||||||
Monitronics International, Inc., Loan, 1st Lien | ||||||||
11.915%, LIBOR + 0.065%, 03/29/24 | 3,301 | 2,175 | ||||||
Mountaineer Merger Corporation, Initial Term Loan, 1st Lien | ||||||||
11.440%, 10/26/28 (b) | 6,071 | 3,896 | ||||||
Rising Tide Holdings, Inc., Initial Term Loan, 2nd Lien | ||||||||
12.985%, LIBOR + 8.250%, 06/01/29 (b) | 2,786 | 975 | ||||||
16,410 |
Description | Face Amount (000)‡ | Value (000) | ||||||
Energy – 0.5% | ||||||||
QuarterNorth Energy Holding Inc., Initial New Loan, 2nd Lien | ||||||||
12.384%, LIBOR + 8.000%, 08/27/26 | 1,284 | $ | 1,276 | |||||
Health Care – 2.0% | ||||||||
GemmaCert, Term Loan | ||||||||
9.000%, 05/19/24 (f) | 459 | 322 | ||||||
Inotiv Inc., Delayed Draw, Term Loan, 1st Lien | ||||||||
11.460%, 11/05/26 (g) | 1,258 | 1,201 | ||||||
Inotiv Inc., Term Loan, 1st Lien | ||||||||
11.460%, 11/05/26 (b) | 3,010 | 2,875 | ||||||
Inotiv Inc., Tranche 1, Term Loan, 1st Lien | ||||||||
11.178%, 11/05/26 (b) | 486 | 464 | ||||||
4,862 | ||||||||
Materials – 0.8% | ||||||||
Elevate Textiles, Inc., Initial Term Loan, 1st Lien | ||||||||
8.743%, 05/01/24 (b) | 1,110 | 768 | ||||||
Real Alloy Holding, Term Loan, 1st Lien | ||||||||
14.730%, LIBOR + 0.000%, 12/31/49 (f) | 1,098 | 1,098 | ||||||
1,866 | ||||||||
Total Bank Loan Obligations | ||||||||
(Cost $31,109) (000) | 26,790 | |||||||
Convertible Bonds — 3.7% | ||||||||
Communication Services – 3.1% | ||||||||
BuzzFeed | ||||||||
8.500%, 12/03/26 (a) (f) | 5,400 | 3,591 | ||||||
Leafly Holdings | ||||||||
8.000%, 01/31/25 (f) | 4,163 | 3,871 | ||||||
7,462 | ||||||||
Health Care – 0.6% | ||||||||
UpHealth | ||||||||
6.250%, 06/15/26 (a) | 4,592 | 1,352 | ||||||
Total Convertible Bonds | ||||||||
(Cost $14,124) (000) | 8,814 |
RiverPark Strategic Income Fund
December 31, 2022 (Unaudited)
Description | Shares/ Number of Warrants | Value (000) | ||||||||||
Special Purpose Acquisition Companies — 3.3% | ||||||||||||
Common Stock– 3.3% | ||||||||||||
Diversified Financials – 3.3% | ||||||||||||
Alpha Partners Technology Merger Founder Shares * (f) | 8,594 | $ | 1 | |||||||||
AxonPrime Infrastructure Acquisition Founder Shares * (f) | 4,000 | — | ||||||||||
Berenson Acquisition Founder Shares * (f) | 12,570 | — | ||||||||||
Biote Founder Shares, Cl A * | 187,945 | 701 | ||||||||||
ESM Acquisition, Cl A * | 53,973 | 545 | ||||||||||
Financials Acquisition, Cl A * | GBP | 64,486 | 781 | |||||||||
Frontier Acquisition, Cl A * | 175,000 | 1,764 | ||||||||||
Iconic Sports Acquisition, Cl A * | 91,450 | 946 | ||||||||||
Mason Industrial Technology, Cl A * | 277,191 | 2,770 | ||||||||||
Parabellum Acquisition Founder Shares * (f) | 19,671 | 1 | ||||||||||
Revelstone Capital Acquisition Founder Shares * (f) | 5,925 | 1 | ||||||||||
Trine II Acquisition, Cl A * | 15,733 | 162 | ||||||||||
Vector Acquisition II, Cl A * | 35,637 | 360 | ||||||||||
8,032 | ||||||||||||
Warrant– 0.0% | ||||||||||||
Diversified Financials – 0.0% | ||||||||||||
Financials Acquisition Corp (DI) | ||||||||||||
Expires 04/04/2027, Strike Price 11.50 | GBP | 33,086 | 2 | |||||||||
Total Special Purpose Acquisition Companies | ||||||||||||
(Cost $7,205) (000) | 8,034 | |||||||||||
Common Stock — 1.7% | ||||||||||||
Communication Services – 0.2% | ||||||||||||
KORE Group Holdings * | 32,156 | 40 | ||||||||||
Verizon Communications | 8,423 | 332 | ||||||||||
372 | ||||||||||||
Energy – 0.1% | ||||||||||||
QuarterNorth Energy * | 1,821 | 246 | ||||||||||
Health Care – 0.1% | ||||||||||||
Biote, Cl A * | 41,085 | 153 | ||||||||||
Prosomnus Holdings (f) | 33,418 | 140 | ||||||||||
293 |
Description | Shares/ Number of Warrants | Value (000) | ||||||
Industrials – 0.0% | ||||||||
Monitronics International * | 208,000 | $ | 31 | |||||
Information Technology – 0.0% | ||||||||
Diebold Nixdorf * | 35,400 | 50 | ||||||
MarketWise * | 1,779 | 3 | ||||||
53 | ||||||||
Materials – 0.9% | ||||||||
RA Parent * (f) | 33 | 2,131 | ||||||
Real Estate – 0.4% | ||||||||
Alpine Income Property Trust | 15,492 | 295 | ||||||
CTO Realty Growth | 31,324 | 573 | ||||||
868 | ||||||||
Total Common Stock | ||||||||
(Cost $4,219) (000) | 3,994 | |||||||
Preferred Stock — 1.4% | ||||||||
Consumer Discretionary – 0.9% | ||||||||
Fossil Group, 7.000% | 138,797 | 2,200 | ||||||
Garrett Motion, 11.000%* | 11,292 | 98 | ||||||
2,298 | ||||||||
Financials – 0.5% | ||||||||
Argo Blockchain, 8.750% | 39,644 | 121 | ||||||
Saratoga Investment. 6.000% | 40,765 | 936 | ||||||
1,057 | ||||||||
Total Preferred Stock | ||||||||
(Cost $5,515) (000) | 3,355 | |||||||
Warrants — 0.0% | ||||||||
Communication Services – 0.0% | ||||||||
Leafly Holdings * | ||||||||
Expires 11/07/2026, Strike Price $11.50 | 21,228 | 1 | ||||||
Energy – 0.0% | ||||||||
Mcdermott International * (f) | ||||||||
Expires 6/30/2027, Strike Price $12.33 | 258,269 | — |
RiverPark Strategic Income Fund
December 31, 2022 (Unaudited)
Description | Number of Warrants/ Shares | Value (000) | ||||||
Mcdermott International * (f) | ||||||||
Expires 6/30/2027, Strike Price $15.98 | 286,965 | $ | — | |||||
— | ||||||||
Health Care – 0.0% | ||||||||
GemmaCert Preferred A-2 (f) | ||||||||
Expires 5/18/2026, Strike Price $7.608 | 21,135 | — | ||||||
Prosomnus Holdings (f) | ||||||||
Expires 04/20/2028, Strike Price $11.50 | 151,260 | 12 | ||||||
12 | ||||||||
Total Warrants | ||||||||
(Cost $153) (000) | 13 | |||||||
Total Investments — 86.6% | ||||||||
(Cost $225,701) (000) | $ | 206,741 |
Description | Face Amount (000)‡/ Shares | Value (000) | ||||||
Schedule of Securities Sold Short, Not Yet Purchased | ||||||||
Corporate Obligations — (0.9)% | ||||||||
Consumer Staples – (0.4)% | ||||||||
Conagra Brands | ||||||||
7.125%, 10/01/26 | (1,000) | (1,055 | ) | |||||
Financials – (0.5)% | ||||||||
FS Energy and Power Fund | ||||||||
7.500%, 08/15/23 (a) | (1,060) | (1,064 | ) | |||||
Total Corporate Obligations | ||||||||
(Proceeds $2,346) (000) | (2,119 | ) | ||||||
Common Stock — 0.0% | ||||||||
Information Technology – 0.0% | ||||||||
Diebold Nixdorf* | (35,400 | ) | (50 | ) | ||||
Total Common Stock | ||||||||
(Proceeds $77) (000) | (50 | ) | ||||||
Total Securities Sold Short, Not Yet Purchased | ||||||||
(Proceeds $2,423) (000) | $ | (2,169 | ) | |||||
Written Options — 0.0% | ||||||||
Total Written Options | ||||||||
(Premiums Received $72) (000) | $ | (40 | ) |
A list of the open forward foreign currency contracts held by the Fund at December 31, 2022, is as follows (000): | ||||||||||||||||||
Counterparty | Maturity Date | Currency to Deliver | Currency to Receive | Unrealized Appreciation (Depreciation) | ||||||||||||||
Brown Brothers Harriman | 01/05/23 | EUR | 8,667 | USD | 9,122 | $ | (156 | ) | ||||||||||
Brown Brothers Harriman | 01/05/23 | SEK | 12,394 | USD | 1,198 | 10 | ||||||||||||
Brown Brothers Harriman | 01/05/23 | GBP | 645 | USD | 786 | 6 | ||||||||||||
Brown Brothers Harriman | 01/05/23 | NOK | 12,471 | USD | 1,249 | (24 | ) | |||||||||||
$ | (164 | ) |
A list of the open option contracts held by the Fund at December 31, 2022 is as follows (000):
Description | Number of Contracts | Notional Amount | Exercise Price | Expiration Date | Value (000) | |||||||||||||
WRITTEN OPTIONS — 0.0% | ||||||||||||||||||
Put Options | ||||||||||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF* | (196 | ) | $ | (1,443 | ) | $ | 72.00 | 03/18/23 | $ | (27 | ) | |||||||
Call Options | ||||||||||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF* | (196 | ) | $ | (1,443 | ) | $ | 75.00 | 01/21/23 | $ | (6 | ) | |||||||
iShares iBoxx $ High Yield Corporate Bond ETF* | (196 | ) | (1,443 | ) | $ | 77.00 | 03/18/23 | (7 | ) | |||||||||
(2,886 | ) | (13 | ) | |||||||||||||||
Total Written Options | ||||||||||||||||||
(Premiums Received $72) (000) | $ | (4,329 | ) | $ | (40 | ) | ||||||||||||
Percentages are based on Net Assets of $238,604 (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 December 31, 2022, these securities amounted to $85,613 (000) or 35.9% 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. |
RiverPark Strategic Income Fund
December 31, 2022 (Unaudited)
(c) | This security or partial position of this security has been committed as collateral for open short positions and option contracts. The aggregate market value of the collateral as of December 31, 2022 was $9,723 (000). |
(d) | Security in default on interest payments. |
(e) | Zero coupon security. The rate reported on the Schedule of Investments is the effective yield at the time purchase. |
(f) | Level 3 security in accordance with fair value hierarchy. As of December 31, 2022, the total amount of Level 3 securities held by the Fund was $12,468 (000). |
(g) | Unsettled bank loan. Interest rate may not be available. |
Cl — Class |
CME — Chicago Mercantile Exchange |
ETF — Exchange Traded Fund |
EUR — Euro |
EURIBOR— Euro London Interbank Offered Rate |
GBP — British Pound Sterling |
ICE— Intercontinental Exchange |
LIBOR— London Interbank Offered Rate |
LLC — Limited Liability Company |
LP — Limited Partnership |
NIBOR — Norwegian Interbank Offered Rate |
NOK — Norway |
PIK — Paid-in-Kind |
SEK — Swedish Krona |
Ser — Series |
STIBOR — Stockholm Interbank Offered Rate |
USD — United States Dollar |
Amounts designated as “—” are $0 or have been rounded to $0.
For information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual or annual financial statements.
RPF-QH-001-2400
RiverPark Floating Rate CMBS Fund
December 31, 2022 (Unaudited)
Description | Face Amount (000) | Value (000) | ||||||
Schedule of Investments | ||||||||
Commercial Mortgage-Backed Securities — 93.5% | ||||||||
Non-Agency Mortgage-Backed Obligation – 93.5% | ||||||||
BX Commercial Mortgage Trust, Ser 2022-IND, Cl E | ||||||||
8.313%, TSFR1M + 3.987%, 04/15/37 (a) (b) | $ | 1,867 | $ | 1,754 | ||||
BX Commercial Mortgage Trust, Ser 2021-MFM1, Cl G | ||||||||
8.218%, ICE LIBOR USD 1 Month + 3.900%, 01/15/34 (a) (b) | 250 | 228 | ||||||
BX Commercial Mortgage Trust, Ser 2020-VKNG, Cl G | ||||||||
7.700%, TSFR1M + 3.364%, 10/15/37 (a) (b) | 1,190 | 1,094 | ||||||
BX Commercial Mortgage Trust, Ser 2021-MFM1, Cl F | ||||||||
7.318%, ICE LIBOR USD 1 Month + 3.000%, 01/15/34 (a) (b) | 1,000 | 920 | ||||||
BX Commercial Mortgage Trust, Ser 2019-XL, Cl G | ||||||||
6.750%, TSFR1M + 2.414%, 10/15/36 (a) (b) | 876 | 838 | ||||||
BX Commercial Mortgage Trust, Ser 2021-VOLT, Cl F | ||||||||
6.718%, ICE LIBOR USD 1 Month + 2.400%, 09/15/36 (a) (b) | 1,500 | 1,380 | ||||||
BX Commercial Mortgage Trust, Ser 2021-SOAR, Cl F | ||||||||
6.668%, ICE LIBOR USD 1 Month + 2.350%, 06/15/38 (a) (b) | 1,985 | 1,843 | ||||||
BX Commercial Mortgage Trust, Ser 2021-MFM1, Cl E | ||||||||
6.568%, ICE LIBOR USD 1 Month + 2.250%, 01/15/34 (a) (b) | 1,000 | 930 | ||||||
BX Commercial Mortgage Trust, Ser 2021-XL2, Cl F | ||||||||
6.562%, ICE LIBOR USD 1 Month + 2.244%, 10/15/38 (a) (b) | 1,853 | 1,730 | ||||||
BX Commercial Mortgage Trust, Ser 2021-VINO, Cl E | ||||||||
6.270%, ICE LIBOR USD 1 Month + 1.952%, 05/15/38 (a) (b) | 1,500 | 1,400 | ||||||
BX Commercial Mortgage Trust, Ser 2021-ACNT, Cl D | ||||||||
6.168%, ICE LIBOR USD 1 Month + 1.850%, 11/15/38 (a) (b) | 2,000 | 1,890 | ||||||
BX Trust, Ser 2019-MMP, Cl F | ||||||||
7.110%, ICE LIBOR USD 1 Month + 2.792%, 08/15/36 (a) (b) | 2,985 | 2,813 |
Description | Face Amount (000) | Value (000) | ||||||
CAMB Commercial Mortgage Trust, Ser 2019-LIFE, Cl G | ||||||||
7.568%, ICE LIBOR USD 1 Month + 3.250%, 12/15/37 (a) (b) | $ | 2,660 | $ | 2,476 | ||||
Cold Storage Trust, Ser 2020-ICE5, Cl F | ||||||||
7.810%, ICE LIBOR USD 1 Month + 3.492%, 11/15/37 (a) (b) | 2,949 | 2,810 | ||||||
Credit Suisse Mortgage Capital Certificates, Ser 2019-ICE4, Cl F | ||||||||
6.968%, ICE LIBOR USD 1 Month + 2.650%, 05/15/36 (a) (b) | 3,780 | 3,612 | ||||||
ILPT Commercial Mortgage Trust, Ser 2022-LPF2, Cl C | ||||||||
7.829%, TSFR1M + 3.493%, 10/15/39 (a) (b) | 2,000 | 1,975 | ||||||
JP Morgan Chase Commercial Mortgage Securities, Ser 2021-MHC, Cl E | ||||||||
6.768%, ICE LIBOR USD 1 Month + 2.450%, 04/15/38 (a) (b) | 1,300 | 1,231 | ||||||
KKR Industrial Portfolio Trust, Ser 2021-KDIP, Cl F | ||||||||
6.368%, ICE LIBOR USD 1 Month + 2.050%, 12/15/37 (a) (b) | 975 | 899 | ||||||
MHP, Ser 2021-STOR, Cl F | ||||||||
6.518%, ICE LIBOR USD 1 Month + 2.200%, 07/15/38 (a) (b) | 1,500 | 1,396 | ||||||
MSCG Trust, Ser 2018-SELF, Cl D | ||||||||
5.968%, ICE LIBOR USD 1 Month + 1.650%, 10/15/37 (a) (b) | 1,828 | 1,750 | ||||||
OPG, Ser 2021-PORT F | ||||||||
6.266%, ICE LIBOR USD 1 Month + 1.948%, 10/15/36 (a) (b) | 685 | 634 | ||||||
Total Commercial Mortgage-Backed Securities | ||||||||
(Cost $35,374) (000) | 33,603 | |||||||
Total Investments — 93.5% | ||||||||
(Cost $35,374) (000) | $ | 33,603 |
RiverPark Strategic Income Fund
December 31, 2022 (Unaudited)
Percentages are based on Net Assets of $35,948 (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 December 31, 2022, these securities amounted to $33,603 (000) or 93.5% of Net Assets. |
Cl — Class |
ICE— Intercontinental Exchange |
LIBOR— London Interbank Offered Rate |
Ser — Series |
USD — United States Dollar |
For information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual or annual financial statements.
RPF-QH-001-2400