| Cross Shore Discovery Fund | |||||||||||||||
| Schedule of Investments | |||||||||||||||
| December 31, 2021 | |||||||||||||||
| (Unaudited) | |||||||||||||||
| Next | |||||||||||||||
| Initial | Available | ||||||||||||||
| % of | Acquisition | Redemption | Redemption | ||||||||||||
| Portfolio Funds* | Net Assets | Cost(1) | Fair Value | Date | Frequency(2) | Date | |||||||||
| Long/Short Generalist: | |||||||||||||||
| Atika Offshore Fund, Ltd., Class A, Series 1 | 11.2% | $ 1,440,187 | $ 4,862,641 | 1/2/2015 | Quarterly | 3/31/2022 | |||||||||
| EVR Offshore Partners Fund, Ltd., Class B, Series 1121 | 4.2% | 1,750,000 | 1,816,545 | 11/1/2021 | Quarterly | 3/31/2022 | (3)(4) | ||||||||
| Hawk Ridge Partners Offshore, Ltd., Class A, Initial Series | 5.9% | 1,600,000 | 2,577,116 | 2/1/2018 | Quarterly | 3/31/2022 | |||||||||
| Hill City Capital Offshore Fund Ltd., Class A, Series 14 | 4.2% | 1,749,595 | 1,830,349 | 11/1/2021 | Quarterly | 3/31/2022 | (4)(7) | ||||||||
| Hill City Capital Offshore Fund Ltd., Class C, Series 14-SP5 | 0.0% | (5) | 405 | 350 | 11/1/2021 | N/A | (6) | ||||||||
| Total Hill City Capital Offshore Fund Ltd. | 4.2% | 1,750,000 | 1,830,699 | ||||||||||||
| Rip Road Offshore Fund Ltd., Class E-1A, Series I00015782 | 3.1% | 1,500,000 | 1,320,835 | 8/1/2020 | Quarterly | 3/31/2022 | (4) | ||||||||
| Rivulet Capital Offshore Fund, Ltd., Class A, Series 1 | 4.0% | 1,083,076 | 1,750,631 | 6/1/2015 | Quarterly | 3/31/2022 | (4) | ||||||||
| Stony Point Capital Partners Offshore Ltd., Founders Class, Series 2020-08 | 2.1% | 1,000,000 | 907,931 | 8/1/2020 | Quarterly | 3/31/2022 | (4) | ||||||||
| TCIM Offshore Fund, Ltd., Class A-33, Series 2019-12 | 5.6% | 1,756,890 | 2,435,949 | 12/1/2019 | Monthly | 1/31/2022 | |||||||||
| Thames Absolute Return Offshore Fund, Ltd., Class B-2, Series 1 | 6.6% | 1,550,000 | 2,850,371 | 11/1/2017 | Quarterly | 3/31/2022 | |||||||||
| Wolf Hill Offshore Fund, Ltd., Class A-OS, Series 2021-07 | 3.0% | 1,300,000 | 1,290,162 | 7/1/2021 | Quarterly | 3/31/2022 | |||||||||
| Total Long/Short Generalist | 49.9% | 14,730,153 | 21,642,880 | ||||||||||||
| Long/Short Sector: | |||||||||||||||
| Energy | |||||||||||||||
| Encompass Capital Fund Offshore, Ltd., Class A, Series 1 | 6.3% | 1,900,000 | 2,714,325 | 1/1/2020 | Quarterly | 3/31/2022 | |||||||||
| Financial Services | |||||||||||||||
| BHZ Consolidation Cayman Fund, LP, Class C | 5.1% | 1,950,000 | 2,198,956 | 5/1/2018 | Quarterly | 3/31/2022 | |||||||||
| Healthcare, Biotechnology | |||||||||||||||
| Avoro Life Sciences Offshore Fund, Ltd., Class A-1 | 10.0% | 1,200,000 | 4,353,288 | 5/1/2017 | Quarterly | 3/31/2022 | |||||||||
| Biomedical Offshore Value Fund, Ltd., Class I, Series 200199-1 | 6.8% | 2,100,000 | 2,929,142 | 1/1/2019 | Quarterly | 3/31/2022 | |||||||||
| Total Healthcare, Biotechnology | 16.8% | 3,300,000 | 7,282,430 | ||||||||||||
| Healthcare, Consumer | |||||||||||||||
| Armistice Capital Offshore Fund, Ltd., Class A, Series 2019-04B | 0.0% | (5) | 17,040 | 8,200 | 4/1/2019 | N/A | (6) | ||||||||
| Armistice Capital Offshore Fund, Ltd., Class A, Series 2015-09B | 0.0% | (5) | 4,503 | 3,714 | 9/1/2015 | N/A | (6) | ||||||||
| Armistice Capital Offshore Fund, Ltd., Class A, Series 2013-08B | 0.0% | (5) | 3,108 | 2,812 | 1/2/2015 | N/A | (6) | ||||||||
| Total Armistice Capital Offshore Fund, Ltd. | 0.0% | (5) | 24,651 | 14,726 | |||||||||||
| Technology, Media and Telecommunications | |||||||||||||||
| Atreides Foundation Fund, Ltd., Founders Class, Series F-2 | 6.4% | 1,585,524 | 2,779,163 | 5/15/2019 | Quarterly | 3/31/2022 | (4) | ||||||||
| Center Lake Capital, Ltd., Class A, Initial Series | 5.4% | 1,850,000 | 2,328,576 | 5/1/2019 | Semi-Annual | 6/30/2022 | |||||||||
| Whale Rock Flagship Fund, Ltd., Class A-1, Series I000157582 | 6.5% | 1,241,653 | 2,818,880 | 4/1/2015 | Quarterly | 3/31/2022 | |||||||||
| Total Technology, Media and Telecommunications | 18.3% | 4,677,177 | 7,926,619 | ||||||||||||
| Total Long/Short Sector | 46.5% | 11,851,828 | 20,137,056 | ||||||||||||
| Total Investments In Portfolio Funds | 96.4% | $ 26,581,981 | $ 41,779,936 | ||||||||||||
| % of | |||||||||||||||
| Money Market Funds | Net Assets | Cost | Fair Value | Shares | |||||||||||
| Federated Hermes Institutional Prime Obligations Fund, | |||||||||||||||
| Institutional Class, 0.05%(8) | 9.0% | $ 3,890,624 | $ 3,890,235 | 3,889,069 | |||||||||||
| Total Investments | 105.4% | $ 30,472,605 | $ 45,670,171 | ||||||||||||
| Liabilities in Excess of Other Assets | (5.4)% | $ (2,334,313) | |||||||||||||
| Net Assets | 100.0% | $ 43,335,858 | |||||||||||||
| * Non-income producing security. | |||||||||||||||
| (1) There were no unfunded capital commitments as of December 31, 2021. | |||||||||||||||
| (2) Certain redemptions may be subject to various restrictions and limitations such as redemption penalties on investments liquidated within a certain period subsequent to investment (e.g., a soft or hard lock-up), investor-level gates and/or Portfolio Fund-level gates. Redemption notice periods range from 30 to 120 days. | |||||||||||||||
| (3) Subject to hard lock through March 31, 2023. | |||||||||||||||
| (4) Subject to 25% investor level quarterly gate. | |||||||||||||||
| (5) Amount is less than 0.05%. | |||||||||||||||
| (6) Redemptions are not permitted until the underlying special investments are sold/liquidated. | |||||||||||||||
| (7) Subject to hard lock through December 31, 2022. | |||||||||||||||
| (8) Rate disclosed is the seven day effective yield as of December 31, 2021. | |||||||||||||||