RiverPark Large Growth Fund December 31, 2023 (Unaudited) |
Description | Shares | Value (000) | ||||||
Schedule of Investments | ||||||||
Common Stock — 95.9%** | ||||||||
Communication Services – 19.6% | ||||||||
Alphabet, Cl A * | 8,023 | $ | 1,121 | |||||
Alphabet, Cl C * | 7,988 | 1,126 | ||||||
Meta Platforms, Cl A * | 4,865 | 1,722 | ||||||
Netflix * | 2,960 | 1,441 | ||||||
Pinterest, Cl A * | 23,542 | 872 | ||||||
Snap, Cl A * | 44,854 | 759 | ||||||
Walt Disney | 14,097 | 1,273 | ||||||
8,314 | ||||||||
Consumer Discretionary – 12.7% | ||||||||
Amazon.com * | 12,136 | 1,844 | ||||||
Booking Holdings * | 355 | 1,259 | ||||||
Lululemon Athletica * | 960 | 491 | ||||||
McDonald's | 1,290 | 382 | ||||||
NIKE, Cl B | 9,825 | 1,067 | ||||||
Starbucks | 3,239 | 311 | ||||||
5,354 | ||||||||
Consumer Staples – 2.6% | ||||||||
Costco Wholesale | 1,003 | 662 | ||||||
PepsiCo | 2,524 | 429 | ||||||
1,091 | ||||||||
Financials – 15.9% | ||||||||
Adyen ADR * | 61,589 | 793 | ||||||
Blackstone, Cl A | 10,457 | 1,369 | ||||||
Charles Schwab | 18,630 | 1,282 | ||||||
KKR | 11,579 | 959 | ||||||
Mastercard, Cl A | 3,163 | 1,349 | ||||||
Visa, Cl A | 3,809 | 992 | ||||||
6,744 | ||||||||
Health Care – 8.5% | ||||||||
Eli Lilly | 1,092 | 637 | ||||||
Illumina * | 3,740 | 521 | ||||||
Intuitive Surgical * | 3,417 | 1,153 | ||||||
UnitedHealth Group | 1,359 | 715 | ||||||
Zoetis, Cl A | 2,939 | 580 | ||||||
3,606 | ||||||||
Industrials – 4.6% | ||||||||
Lockheed Martin | 708 | 321 | ||||||
Uber Technologies * | 26,403 | 1,625 | ||||||
1,946 | ||||||||
Information Technology – 31.5% | ||||||||
Adobe * | 1,524 | 909 | ||||||
Apple | 9,383 | 1,807 | ||||||
Autodesk * | 3,732 | 909 |
Description | Shares | Value (000) | ||||||
Datadog, Cl A * | 5,982 | $ | 726 | |||||
Five9 * | 10,425 | 820 | ||||||
Intuit | 1,709 | 1,068 | ||||||
Microsoft | 5,750 | 2,162 | ||||||
NVIDIA | 2,380 | 1,179 | ||||||
RingCentral, Cl A * | 12,554 | 426 | ||||||
ServiceNow * | 1,451 | 1,025 | ||||||
Shopify, Cl A * | 18,291 | 1,425 | ||||||
Workday, Cl A * | 3,111 | 859 | ||||||
13,315 | ||||||||
Real Estate – 0.5% | ||||||||
Equinix | 257 | 207 | ||||||
Total Common Stock | ||||||||
(Cost $21,964) (000) | 40,577 | |||||||
Total Investments — 95.9% | ||||||||
(Cost $21,964) (000) | $ | 40,577 |
Percentages are based on Net Assets of $42,327 (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 |
RPF-QH-001-2600
Wedgewood Fund December 31, 2023 (Unaudited) |
Description | Shares | Value (000) | ||||||
Schedule of Investments | ||||||||
Common Stock — 97.4%** | ||||||||
Communication Services – 16.6% | ||||||||
Alphabet, Cl A * | 16,786 | $ | 2,345 | |||||
Meta Platforms, Cl A * | 6,837 | 2,420 | ||||||
4,765 | ||||||||
Consumer Discretionary – 14.7% | ||||||||
Booking Holdings * | 401 | 1,422 | ||||||
O'Reilly Automotive * | 589 | 560 | ||||||
Pool | 2,156 | 860 | ||||||
Tractor Supply | 6,432 | 1,383 | ||||||
4,225 | ||||||||
Energy – 1.6% | ||||||||
Texas Pacific Land | 299 | 470 | ||||||
Financials – 16.6% | ||||||||
PayPal Holdings * | 31,248 | 1,919 | ||||||
S&P Global | 1,615 | 711 | ||||||
Visa, Cl A | 8,231 | 2,143 | ||||||
4,773 | ||||||||
Health Care – 9.7% | ||||||||
Edwards Lifesciences * | 15,711 | 1,198 | ||||||
UnitedHealth Group | 3,008 | 1,584 | ||||||
2,782 | ||||||||
Industrials – 8.6% | ||||||||
Copart * | 34,202 | 1,676 | ||||||
Old Dominion Freight Line | 1,958 | 793 | ||||||
2,469 | ||||||||
Information Technology – 29.6% | ||||||||
Apple | 11,009 | 2,119 | ||||||
CDW | 6,334 | 1,440 | ||||||
Microsoft | 4,500 | 1,692 | ||||||
Motorola Solutions | 5,017 | 1,571 | ||||||
Taiwan Semiconductor Manufacturing ADR | 15,950 | 1,659 | ||||||
8,481 | ||||||||
Total Common Stock | ||||||||
(Cost $16,927) (000) | 27,965 | |||||||
Total Investments — 97.4% | ||||||||
(Cost $16,927) (000) | $ | 27,965 |
Percentages are based on Net Assets of $28,712 (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 |
RPF-QH-001-2600
RiverPark Short Term High Yield Fund December 31, 2023 (Unaudited) |
Description | Face Amount (000)‡ | Value (000) | ||||||||||
Schedule of Investments | ||||||||||||
Corporate Obligations — 68.2% | ||||||||||||
Communication Services – 9.5% | ||||||||||||
Charter Communications Operating | ||||||||||||
7.289%, TSFR3M + 1.912%, 02/01/24 (a) | 3,146 | $ | 3,146 | |||||||||
4.500%, 02/01/24 | 20,910 | 20,877 | ||||||||||
Opnet | ||||||||||||
10.925%, EUR003M + 7.000%, 02/09/26 (a) (b) | EUR | 19,254 | 21,388 | |||||||||
TEGNA | ||||||||||||
4.750%, 03/15/26 (b) | 11,464 | 11,167 | ||||||||||
Videotron | ||||||||||||
5.375%, 06/15/24 (b) | 18,136 | 18,057 | ||||||||||
74,635 | ||||||||||||
Consumer Discretionary – 11.1% | ||||||||||||
Brinker International | ||||||||||||
5.000%, 10/01/24 (b) | 1,600 | 1,587 | ||||||||||
Ford Motor Credit | ||||||||||||
3.810%, 01/09/24 | 27,111 | 27,099 | ||||||||||
Las Vegas Sands | ||||||||||||
3.200%, 08/08/24 | 15,620 | 15,328 | ||||||||||
Michael Kors USA | ||||||||||||
4.250%, 11/01/24 (b) | 1,107 | 1,083 | ||||||||||
Travel + Leisure | ||||||||||||
5.650%, 04/01/24 | 106 | 106 | ||||||||||
TRI Pointe Group | ||||||||||||
5.875%, 06/15/24 | 16,585 | 16,604 | ||||||||||
Valvoline | ||||||||||||
4.250%, 02/15/30 (b) | 25,331 | 25,161 | ||||||||||
86,968 | ||||||||||||
Consumer Staples – 6.5% | ||||||||||||
Chobani | ||||||||||||
7.500%, 04/15/25 (b) | 19,515 | 19,434 | ||||||||||
Coty | ||||||||||||
6.500%, 04/15/26 (b) | 8,464 | 8,462 | ||||||||||
Performance Food Group | ||||||||||||
6.875%, 05/01/25 (b) | 22,480 | 22,589 | ||||||||||
50,485 | ||||||||||||
Energy – 19.1% | ||||||||||||
Calumet Specialty Products Partners | ||||||||||||
9.250%, 07/15/24 (b) | 435 | 437 | ||||||||||
CrownRock | ||||||||||||
5.625%, 10/15/25 (b) | 23,000 | 22,984 |
Description | Face Amount (000)‡ | Value (000) | ||||||||||
CVR Energy | ||||||||||||
5.250%, 02/15/25 (b) | 21,537 | $ | 21,518 | |||||||||
NGL Energy Partners | ||||||||||||
6.125%, 03/01/25 | 20,109 | 20,085 | ||||||||||
PDC Energy | ||||||||||||
5.750%, 05/15/26 | 35,760 | 35,720 | ||||||||||
Vital Energy | ||||||||||||
9.500%, 01/15/25 | 47,893 | 47,943 | ||||||||||
148,687 | ||||||||||||
Financials – 8.1% | ||||||||||||
Brookfield Finance | ||||||||||||
4.000%, 04/01/24 | 983 | 979 | ||||||||||
Enova International | ||||||||||||
8.500%, 09/01/24 (b) | 12,731 | 12,731 | ||||||||||
Fairfax US | ||||||||||||
4.875%, 08/13/24 (b) | 3,055 | 3,050 | ||||||||||
Kistefos | ||||||||||||
10.370%, NIBOR3M + 5.750%, 09/11/24 (a) (b) | NOK | 19,600 | 1,953 | |||||||||
StoneX Group | ||||||||||||
8.625%, 06/15/25 (b) | 9,105 | 9,239 | ||||||||||
UBS Group | ||||||||||||
7.000%, USSW5 + 4.344%, 07/31/72 (a) (b) | 35,625 | 35,637 | ||||||||||
63,589 | ||||||||||||
Health Care – 1.3% | ||||||||||||
Cannabist Holdings | ||||||||||||
13.000%, 05/14/24 | 3,088 | 3,082 | ||||||||||
9.500%, 02/03/26 (b) | 8,000 | 6,760 | ||||||||||
9,842 | ||||||||||||
Industrials – 8.7% | ||||||||||||
Delta Air Lines 2019-1 Class AA Pass Through Trust | ||||||||||||
3.204%, 04/25/24 | 3,644 | 3,615 | ||||||||||
Hawaiian Airlines Pass-Through Certificates, Ser 2013-1, Cl A | ||||||||||||
3.900%, 01/15/26 | 4,964 | 4,686 | ||||||||||
Icahn Enterprises | ||||||||||||
4.750%, 09/15/24 | 49,836 | 49,562 | ||||||||||
IEA Energy Services | ||||||||||||
6.625%, 08/15/29 (b) | 8,025 | 7,432 | ||||||||||
United Airlines Holdings | ||||||||||||
5.000%, 02/01/24 | 2,756 | 2,761 | ||||||||||
68,056 |
RiverPark Short Term High Yield Fund December 31, 2023 (Unaudited) |
Description | Face Amount (000)‡ | Value (000) | ||||||
Information Technology – 1.6% | ||||||||
Broadcom | ||||||||
3.625%, 01/15/24 | 12,569 | $ | 12,558 | |||||
Materials – 2.3% | ||||||||
Eastman Chemical | ||||||||
7.250%, 01/15/24 | 17,831 | 17,839 | ||||||
Total Corporate Obligations | ||||||||
(Cost $534,277) (000) | 532,659 | |||||||
Commercial Paper — 21.0% | ||||||||
Communication Services – 4.0% | ||||||||
Rogers Communications | ||||||||
5.934%, 02/01/24 (c) | 10,000 | 9,947 | ||||||
5.920%, 01/18/24 (c) | 6,600 | 6,580 | ||||||
Walt Disney | ||||||||
5.600%, 02/01/24 (c) | 15,000 | 14,922 | ||||||
31,449 | ||||||||
Consumer Discretionary – 3.4% | ||||||||
Bacardi Martini | ||||||||
5.991%, 01/17/24 (c) | 9,000 | 8,972 | ||||||
General Motors Financials | ||||||||
5.764%, 02/14/24 (c) | 8,000 | 7,940 | ||||||
5.707%, 01/10/24 (c) | 9,500 | 9,483 | ||||||
26,395 | ||||||||
Consumer Staples – 4.1% | ||||||||
Conagra Brands | ||||||||
5.903%, 02/01/24 (c) | 16,000 | 15,910 | ||||||
Walgreens Boots Alliance | ||||||||
6.291%, 01/10/24 (c) | 15,588 | 15,557 | ||||||
31,467 | ||||||||
Industrials – 1.8% | ||||||||
L3Harris Technologies | ||||||||
5.774%, 02/12/24 (c) | 14,250 | 14,150 | ||||||
Information Technology – 2.4% | ||||||||
Fidelity | ||||||||
5.674%, 01/08/24 (c) | 10,633 | 10,617 | ||||||
Global Payments | ||||||||
6.011%, 01/05/24 (c) | 1,350 | 1,348 | ||||||
Microchip Technology | ||||||||
5.627%, 01/12/24 (c) | 6,991 | 6,976 | ||||||
18,941 | ||||||||
Materials – 5.3% | ||||||||
Albemarle | ||||||||
6.022%, 01/05/24 (c) | 15,455 | 15,437 |
Description | Face Amount (000)‡/ Shares | Value (000) | ||||||
FMC | ||||||||
6.132%, 01/12/24 (c) | 11,886 | $ | 11,858 | |||||
Glencore Funding | ||||||||
5.836%, 01/19/24 (c) | 14,000 | 13,954 | ||||||
41,249 | ||||||||
Total Commercial Paper | ||||||||
(Cost $163,722) (000) | 163,651 | |||||||
Convertible Bonds — 8.7% | ||||||||
Health Care – 2.1% | ||||||||
Intercept Pharmaceuticals | ||||||||
2.000%, 05/15/26 | 2,505 | 2,511 | ||||||
Jazz Investments I | ||||||||
1.500%, 08/15/24 | 14,552 | 14,185 | ||||||
16,696 | ||||||||
Information Technology – 6.6% | ||||||||
Alteryx | ||||||||
0.500%, 08/01/24 | 5,250 | 5,122 | ||||||
DocuSign | ||||||||
0.000%, 01/15/24(d) | 46,122 | 46,123 | ||||||
51,245 | ||||||||
Total Convertible Bonds | ||||||||
(Cost $67,756) (000) | 67,941 | |||||||
Special Purpose Acquisition Company — 0.0% | ||||||||
Common Stock– 0.0% | ||||||||
Diversified Financials – 0.0% | ||||||||
Alpha Partners Technology Merger Founder Shares, Cl A * (e) (f) | 45,106 | 3 | ||||||
Total Special Purpose Acquisition Company | ||||||||
(Cost $–) (000) | 3 | |||||||
Total Investments — 97.9% | ||||||||
(Cost $765,755) (000) | $ | 764,254 |
RiverPark Short Term High Yield Fund December 31, 2023 (Unaudited) |
A list of the open forward foreign currency contracts held by the Fund at December 31, 2023, is as follows (000): | ||||||||||||||||||
Counterparty | Maturity Date | Currency to Deliver | Currency to Receive | Unrealized Appreciation (Depreciation) | ||||||||||||||
Brown Brothers Harriman | 01/04/24 | EUR | 19,768 | USD | 21,412 | $ | (411 | ) | ||||||||||
Brown Brothers Harriman | 01/04/24 | NOK | 20,331 | USD | 1,871 | (131 | ) | |||||||||||
$ | (542 | ) | ||||||||||||||||
Percentages are based on Net Assets of $780,513 (000). | |
‡ | In U.S. Dollar unless otherwise indicated. |
* | Non-income producing security. |
(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, 2023, these securities amounted to $250,670 (000) or 32.1% of Net Assets. |
(c) | The rate reported on the Schedule of Investments is the effective yield at the time of purchase. |
(d) | Zero coupon security. |
(e) | Level 3 security in accordance with fair value hierarchy. As of December 31, 2023, the total amount of Level 3 securities held by the Fund was $3 (000). |
(f) | Security is fair valued. |
Cl — Class |
EUR — Euro |
EUR003M — Three-Month Euribor |
NIBOR — Norwegian Interbank Offered Rate |
NOK — Norwegian Krone |
Ser — Series |
TSFR3M — Three-Month Secured Overnight Finance Rate |
Amounts designated as “—” are $0 or have been rounded to $0.
RPF-QH-001-2600
RiverPark Long/Short Opportunity Fund December 31, 2023 (Unaudited) |
Description | Shares | Value (000) | ||||||
Schedule of Investments | ||||||||
Common Stock — 81.7%** | ||||||||
Communication Services – 18.6% | ||||||||
Alphabet, Cl A * | 8,867 | $ | 1,239 | |||||
Alphabet, Cl C * | 8,769 | 1,236 | ||||||
Meta Platforms, Cl A *(a) | 5,537 | 1,960 | ||||||
Netflix * | 3,063 | 1,491 | ||||||
Pinterest, Cl A * | 24,549 | 909 | ||||||
Snap, Cl A * | 45,540 | 771 | ||||||
Walt Disney | 14,203 | 1,282 | ||||||
8,888 | ||||||||
Consumer Discretionary – 11.8% | ||||||||
Amazon.com * | 11,922 | 1,811 | ||||||
Booking Holdings * | 371 | 1,316 | ||||||
Lululemon Athletica * | 1,097 | 561 | ||||||
McDonald's | 1,536 | 455 | ||||||
NIKE, Cl B | 10,643 | 1,156 | ||||||
Starbucks | 3,291 | 316 | ||||||
5,615 | ||||||||
Consumer Staples – 2.4% | ||||||||
Costco Wholesale | 1,075 | 710 | ||||||
PepsiCo | 2,710 | 460 | ||||||
1,170 | ||||||||
Financials – 11.4% | ||||||||
Adyen ADR * | 61,475 | 792 | ||||||
Blackstone, Cl A | 10,977 | 1,437 | ||||||
KKR | 12,693 | 1,052 | ||||||
Mastercard, Cl A (a) | 2,539 | 1,083 | ||||||
Visa, Cl A | 4,130 | 1,075 | ||||||
5,439 | ||||||||
Health Care – 7.7% | ||||||||
Eli Lilly | 919 | 536 | ||||||
Illumina * | 3,972 | 553 | ||||||
Intuitive Surgical * | 3,437 | 1,159 | ||||||
UnitedHealth Group | 1,514 | 797 | ||||||
Zoetis, Cl A | 3,327 | 657 | ||||||
3,702 | ||||||||
Industrials – 4.3% | ||||||||
Lockheed Martin | 750 | 340 | ||||||
Uber Technologies * | 27,930 | 1,720 | ||||||
2,060 | ||||||||
Information Technology – 25.0% | ||||||||
Adobe * | 1,592 | 950 | ||||||
Apple | 9,958 | 1,917 | ||||||
Autodesk * | 3,834 | 934 | ||||||
Datadog, Cl A * | 5,992 | 727 |
Description | Shares | Value (000) | ||||||
Five9 * | 10,828 | $ | 852 | |||||
Intuit | 1,757 | 1,098 | ||||||
Microsoft | 6,522 | 2,453 | ||||||
NVIDIA (a) | 268 | 133 | ||||||
ServiceNow * | 1,484 | 1,048 | ||||||
Shopify, Cl A * | 19,786 | 1,541 | ||||||
Workday, Cl A *(a) | 980 | 271 | ||||||
11,924 | ||||||||
Real Estate – 0.5% | ||||||||
Equinix | 306 | 246 | ||||||
Total Common Stock | ||||||||
(Cost $20,113) (000) | 39,044 | |||||||
Total Investments — 81.7% | ||||||||
(Cost $20,113) (000) | $ | 39,044 |
RiverPark Long/Short Opportunity Fund December 31, 2023 (Unaudited) |
A list of open swap agreements held by the Fund at December 31, 2023 was as follows: | ||||||||||||||
Long Exposure | ||||||||||||||
Net | ||||||||||||||
Unrealized | ||||||||||||||
Notional | Apprecation/ | |||||||||||||
Payment | Maturity | Amount | Value | (Depreciation) | ||||||||||
Company Reference | Counterparty | Fund Pays | Frequency1 | Date | (000) | (000) | (000)† | |||||||
Charles Schwab | Goldman Sachs International | USD-SOFR + 0.61% | Maturity | 05/01/2024 | $ 1,131 | $ 1,410 | $ 279 | |||||||
Mastercard, Class A | Goldman Sachs International | USD-SOFR + 0.61% | Maturity | 07/09/2024 | 398 | 445 | 47 | |||||||
NVIDIA | Goldman Sachs International | USD-SOFR + 0.61% | Maturity | 04/26/2024 | 492 | 886 | 394 | |||||||
Ringcentral | Goldman Sachs International | USD-SOFR + 0.61% | Maturity | 02/22/2024 | 538 | 471 | (67) | |||||||
Workday, Class A | Goldman Sachs International | USD-SOFR + 0.61% | Maturity | 10/30/2024 | 541 | 644 | 103 | |||||||
$ 3,100 | $ 3,856 | $ 756 |
Short Exposure | ||||||||||||||||||||||||||||||
Company Reference | Counterparty | Fund Receives | Fund Pays | Payment Frequency1 | Maturity Date | Notional Amount (000 | ) | Value (000 | ) | Net Unrealized Apprecation/ (Depreciation) (000 | )† | |||||||||||||||||||
Ares Management, Class A | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 04/19/2024 | $ | (271 | ) | $ | (394 | ) | $ | (123 | ) | |||||||||||||||
Block Class A | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 01/02/2025 | (241 | ) | (292 | ) | (51 | ) | ||||||||||||||||||
Boston Properties | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 11/06/2024 | (209 | ) | (269 | ) | (60 | ) | ||||||||||||||||||
Capital One Financial Corp | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 12/26/2024 | (360 | ) | (444 | ) | (84 | ) | ||||||||||||||||||
Carmax | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 12/26/2024 | (320 | ) | (380 | ) | (60 | ) | ||||||||||||||||||
Entegris | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 11/06/2024 | (276 | ) | (360 | ) | (84 | ) | ||||||||||||||||||
Exact Sciences | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 11/06/2024 | (278 | ) | (313 | ) | (35 | ) | ||||||||||||||||||
Expedia Group | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 01/02/2025 | (240 | ) | (268 | ) | (28 | ) | ||||||||||||||||||
Fidelity Natl Info Svcs | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 11/06/2024 | (284 | ) | (318 | ) | (34 | ) | ||||||||||||||||||
Flex Ltd. | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 05/14/2024 | (182 | ) | (251 | ) | (69 | ) | ||||||||||||||||||
Hilton Worldwide Holdings | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 01/18/2024 | (386 | ) | (515 | ) | (129 | ) | ||||||||||||||||||
Invesco QQQ Trust ETF | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 10/23/2024 | (1,150 | ) | (1,260 | ) | (110 | ) | ||||||||||||||||||
Iron Mountain Incorporated | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 11/06/2024 | (338 | ) | (402 | ) | (64 | ) | ||||||||||||||||||
Ishares Expanded Tech - Software Sector ETF | Goldman Sachs International | USD-SOFR | -0.60 | % | Maturity | 07/10/2024 | (675 | ) | (745 | ) | (70 | ) | ||||||||||||||||||
Lyondellbasell Industries N.V., Class A | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 01/18/2024 | (335 | ) | (392 | ) | (57 | ) | ||||||||||||||||||
Marriott International, Class A | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 01/18/2024 | (350 | ) | (487 | ) | (137 | ) | ||||||||||||||||||
Planet Fitness, Class A | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 01/02/2025 | (241 | ) | (259 | ) | (18 | ) | ||||||||||||||||||
Ralph Lauren Corp, Class A | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 01/10/2024 | (326 | ) | (439 | ) | (113 | ) | ||||||||||||||||||
Smartsheet, Class A | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 11/06/2024 | (217 | ) | (256 | ) | (39 | ) | ||||||||||||||||||
SPDR S&P Homebuilders ETF | Goldman Sachs International | USD-SOFR | -0.72 | % | Maturity | 08/15/2024 | (229 | ) | (259 | ) | (30 | ) | ||||||||||||||||||
Squarespace | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 06/24/2024 | (334 | ) | (374 | ) | (40 | ) | ||||||||||||||||||
Surgery Partners | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 11/06/2024 | (286 | ) | (337 | ) | (51 | ) | ||||||||||||||||||
Synchrony Financial | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 10/30/2024 | (299 | ) | (375 | ) | (76 | ) | ||||||||||||||||||
Twilio, Class A | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 11/06/2024 | (284 | ) | (383 | ) | (99 | ) | ||||||||||||||||||
Ventas | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 11/06/2024 | (211 | ) | (261 | ) | (50 | ) | ||||||||||||||||||
Wynn Resorts, Limited | Goldman Sachs International | USD-SOFR | -0.50 | % | Maturity | 11/06/2024 | (212 | ) | (208 | ) | 4 | |||||||||||||||||||
$ | (8,534 | ) | $ | (10,241 | ) | $ | (1,707 | ) |
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 $47,794 (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 |
Ltd. — Limited |
SOFR — Secured Overnight Financing Rate |
SPDR — Standard & Poor’s Depository Receipt |
S&P — Standard & Poor’s |
USD — United States Dollar |
RPF-QH-001-2600
RiverPark/Next Century Growth Fund December 31, 2023 (Unaudited) |
Description | Shares | Value (000) | ||||||
Schedule of Investments | ||||||||
Common Stock — 97.5% | ||||||||
Consumer Discretionary – 6.6% | ||||||||
Floor & Decor Holdings, Cl A * | 131 | $ | 15 | |||||
Global-e Online * | 792 | 31 | ||||||
Kura Sushi USA, Cl A * | 369 | 28 | ||||||
LGI Homes * | 739 | 98 | ||||||
172 | ||||||||
Consumer Staples – 4.8% | ||||||||
Celsius Holdings * | 1,620 | 88 | ||||||
Freshpet * | 413 | 36 | ||||||
124 | ||||||||
Energy – 1.0% | ||||||||
Patterson-UTI Energy | 1,103 | 12 | ||||||
Permian Resources, Cl A | 1,113 | 15 | ||||||
27 | ||||||||
Financials – 7.6% | ||||||||
Flywire * | 3,195 | 74 | ||||||
Kinsale Capital Group | 296 | 99 | ||||||
Ryan Specialty Holdings, Cl A * | 602 | 26 | ||||||
199 | ||||||||
Health Care – 23.0% | ||||||||
Alphatec Holdings * | 5,033 | 76 | ||||||
Axonics * | 1,185 | 74 | ||||||
Castle Biosciences * | 619 | 13 | ||||||
Inspire Medical Systems * | 168 | 34 | ||||||
Medpace Holdings * | 86 | 26 | ||||||
Natera * | 433 | 27 | ||||||
OrthoPediatrics * | 968 | 32 | ||||||
Penumbra * | 110 | 28 | ||||||
Progyny * | 1,067 | 40 | ||||||
RxSight * | 668 | 27 | ||||||
SI-BONE * | 3,151 | 66 | ||||||
Tactile Systems Technology * | 954 | 14 | ||||||
Tandem Diabetes Care * | 916 | 27 | ||||||
TransMedics Group * | 1,319 | 104 | ||||||
Treace Medical Concepts * | 1,041 | 13 | ||||||
601 | ||||||||
Industrials – 25.6% | ||||||||
AeroVironment * | 388 | 49 | ||||||
AerSale * | 1,569 | 20 | ||||||
Astronics * | 5,815 | 101 | ||||||
ExlService Holdings * | 1,274 | 39 | ||||||
Hexcel | 1,078 | 79 | ||||||
Knight-Swift Transportation Holdings, Cl A | 447 | 26 |
Description | Shares | Value (000) | ||||||
MYR Group * | 194 | $ | 28 | |||||
Paylocity Holding * | 152 | 25 | ||||||
Quanta Services | 138 | 30 | ||||||
RBC Bearings * | 196 | 56 | ||||||
Saia * | 232 | 102 | ||||||
Verra Mobility, Cl A * | 4,899 | 113 | ||||||
668 | ||||||||
Information Technology – 28.9% | ||||||||
Aehr Test Systems * | 449 | 12 | ||||||
Agilysys * | 383 | 32 | ||||||
Appfolio, Cl A * | 183 | 32 | ||||||
Braze, Cl A * | 391 | 21 | ||||||
Clearwater Analytics Holdings, Cl A * | 1,164 | 23 | ||||||
Credo Technology Group Holding * | 1,583 | 31 | ||||||
Endava ADR * | 192 | 15 | ||||||
Five9 * | 538 | 42 | ||||||
Guidewire Software * | 251 | 27 | ||||||
Lattice Semiconductor * | 821 | 57 | ||||||
MACOM Technology Solutions Holdings * | 923 | 86 | ||||||
Napco Security Technologies | 1,671 | 57 | ||||||
Q2 Holdings * | 1,332 | 58 | ||||||
Sprout Social, Cl A * | 1,247 | 77 | ||||||
SPS Commerce * | 354 | 69 | ||||||
Vertex, Cl A * | 3,319 | 89 | ||||||
Workiva, Cl A * | 247 | 25 | ||||||
753 | ||||||||
Total Common Stock | ||||||||
(Cost $2,404) (000) | 2,544 | |||||||
Total Investments — 97.5% | ||||||||
(Cost $2,404) (000) | $ | 2,544 |
Percentages are based on Net Assets of $2,610 (000). | |
* | Non-income producing security. |
ADR — American Depositary Receipt |
Cl — Class |
RPF-QH-001-2600
RiverPark Floating Rate CMBS Fund December 31, 2023 (Unaudited) |
Description | Face Amount (000) | Value (000) | ||||||
Schedule of Investments | ||||||||
Commercial Mortgage-Backed Securities — 94.5% | ||||||||
Non-Agency Mortgage-Backed Obligation – 94.5% | ||||||||
BX Commercial Mortgage Trust, Ser 2021-VOLT, Cl F | ||||||||
7.876%, TSFR1M + 2.514%, 09/15/36 (a) (b) | $ | 500 | $ | 477 | ||||
BX Commercial Mortgage Trust, Ser 2021-SOAR, Cl F | ||||||||
7.827%, TSFR1M + 2.464%, 06/15/38 (a) (b) | 1,857 | 1,778 | ||||||
BX Commercial Mortgage Trust, Ser 2021-XL2, Cl F | ||||||||
7.721%, TSFR1M + 2.359%, 10/15/38 (a) (b) | 2,346 | 2,237 | ||||||
BX Commercial Mortgage Trust, Ser 2021-SOAR, Cl E | ||||||||
7.277%, TSFR1M + 1.914%, 06/15/38 (a) (b) | 928 | 906 | ||||||
BX Commercial Mortgage Trust, Ser 2021-CIP, Cl D | ||||||||
7.148%, TSFR1M + 1.785%, 12/15/38 (a) (b) | 1,500 | 1,446 | ||||||
BX Commercial Mortgage Trust, Ser 2021-SOAR, Cl C | ||||||||
6.577%, TSFR1M + 1.214%, 06/15/38 (a) (b) | 427 | 418 | ||||||
BX Commercial Mortgage Trust, Ser 2021-ACNT, Cl A | ||||||||
6.327%, TSFR1M + 0.964%, 11/15/38 (a) (b) | 1,460 | 1,439 | ||||||
BX Trust, Ser 2022-IND, Cl E | ||||||||
9.349%, TSFR1M + 3.987%, 04/15/37 (a) (b) | 1,546 | 1,502 | ||||||
BX Trust, Ser 2019-MMP, Cl F | ||||||||
8.198%, TSFR1M + 2.836%, 08/15/36 (a) (b) | 2,985 | 2,770 | ||||||
BX Trust, Ser 2022-PSB, Cl A | ||||||||
7.813%, TSFR1M + 2.451%, 08/15/39 (a) (b) | 1,873 | 1,878 | ||||||
BX Trust, Ser 2021-MFM1, Cl E | ||||||||
7.727%, TSFR1M + 2.364%, 01/15/34 (a) (b) | 766 | 740 | ||||||
BX Trust, Ser 2021-RISE, Cl A | ||||||||
6.224%, TSFR1M + 0.862%, 11/15/36 (a) (b) | 1,834 | 1,804 |
Description | Face Amount (000) | Value (000) | ||||||
ILPT Commercial Mortgage Trust, Ser 2022-LPF2, Cl E | ||||||||
11.302%, TSFR1M + 5.940%, 10/15/39 (a) (b) | $ | 1,000 | $ | 948 | ||||
ILPT Commercial Mortgage Trust, Ser 2022-LPF2, Cl C | ||||||||
8.855%, TSFR1M + 3.493%, 10/15/39 (a) (b) | 2,000 | 1,957 | ||||||
JP Morgan Chase Commercial Mortgage Securities Trust, Ser 2021-MHC, Cl E | ||||||||
7.927%, TSFR1M + 2.564%, 04/15/38 (a) (b) | 1,300 | 1,258 | ||||||
KNDL Mortgage Trust, Ser 2019-KNSQ, Cl A | ||||||||
6.358%, TSFR1M + 0.996%, 05/15/36 (a) (b) | 1,000 | 996 | ||||||
MHC Trust, Ser 2021-MHC2, Cl B | ||||||||
6.577%, TSFR1M + 1.214%, 05/15/38 (a) (b) | 1,336 | 1,313 | ||||||
MHP, Ser 2022-MHIL, Cl E | ||||||||
7.972%, TSFR1M + 2.611%, 01/15/27 (a) (b) | 912 | 865 | ||||||
MHP, Ser 2021-STOR, Cl F | ||||||||
7.677%, TSFR1M + 2.314%, 07/15/38 (a) (b) | 1,500 | 1,432 | ||||||
OPG Trust, Ser 2021-PORT F | ||||||||
7.425%, TSFR1M + 2.062%, 10/15/36 (a) (b) | 658 | 629 | ||||||
TTAN, Ser 2021-MHC, Cl D | ||||||||
7.227%, TSFR1M + 1.864%, 03/15/38 (a) (b) | 1,544 | 1,511 | ||||||
Total Commercial Mortgage-Backed Securities | ||||||||
(Cost $29,026) (000) | 28,304 | |||||||
Total Investments — 94.5% | ||||||||
(Cost $29,026) (000) | $ | 28,304 | ||||||
RiverPark Floating Rate CMBS Fund December 31, 2023 (Unaudited) |
Percentages are based on Net Assets of $29,951 (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, 2023, these securities amounted to $28,304 (000) or 94.5% of Net Assets. |
Cl — Class |
Ser — Series |
TSFR1M — Term Secured Overnight Finance Rate 1-Month |
RPF-QH-001-2600