Sweater Cashmere Fund |
SCHEDULE OF INVESTMENTS |
June 30, 2023 (Unaudited) |
Fair Value | ||||
Convertible Debt in Portfolio Companies - 5.8% | ||||
Financial Technology - 1.9% | ||||
Trellis Technologies, Inc., Principal $250,000, 8.00%, due 11/3/241,3 | $ | 250,000 | ||
Healthcare - 3.9% | ||||
Cabinet Health P.B.C., Principal $500,000, 4.55%, due 2/3/251,3 | 500,000 | |||
Total Convertible Debt in Portfolio Companies (Cost $750,000) | 750,000 | |||
Equity Investments in Portfolio Companies - 23.1% | ||||
Consumer Goods and Retail - 4.3% | ||||
IQ Bar, Inc. Series B Preferred Stock, shares 41,5531,2,3 | 250,000 | |||
Nomadica Series Seed-6 Preferred Stock, shares 462,107 1,2,3 | 300,370 | |||
Total Consumer Goods and Retail | 550,370 | |||
Consumer Technology - 4.0% | ||||
GO, Inc., Series Seed-1 Preferred Stock, shares 400,1601,2,3 | 519,640 | |||
Human Resource Technology - 8.5% | ||||
IsoTalent, Inc. Series Seed-1 Preferred Stock, shares 764,2921,2,3 | 1,099,503 | |||
Property Technology - 6.3% | ||||
Eloit Street, Inc. dba Guest House Series C-2 Preferred Stock, shares 2,012,8821,2,3 | 300,000 | |||
Havenly, Inc. Series C-1 Preferred Stock, shares 63,8481,2,3 | 249,996 | |||
True Footage Inc. Series A Prime Preferred Stock, shares 38,8361,2,3 | 272,901 | |||
Total Property Technology | 822,897 | |||
Total Equity Investments in Portfolio Companies (Cost $2,799,996) | 2,992,410 | |||
Portfolio Funds - 3.5% | ||||
Private Investment Companies - 3.5% | ||||
Curate Capital Fund I, LP1,2,4 | 158,404 | |||
Ganas Ventures I, a series of Ganas Ventures, LP1,2,4,5 | 115,921 | |||
Impressionism Capital Fund I, L.P.1,2,4 | 25,000 | |||
Stonks Y Combinator Summer 2022 Access Fund, a Series of Stonks Funds, LP - Class A1,2,4,5 | 149,527 | |||
Total Portfolio Funds (Cost $470,000) | 448,852 | |||
Simple Agreements for Future Equity in Portfolio Companies - 39.6% | ||||
Consumer Goods and Retail - 7.6% | ||||
Drupely, Inc. dba Graza1,2,3 | 220,000 | |||
FEAT Socks, Inc.1,2,3 | 250,000 | |||
Frances Valentine, LLC1,2,3 | 500,000 | |||
Total Consumer Goods and Retail | 970,000 | |||
Consumer Technology - 9.0% | ||||
After Services, Inc. - Tranche 11,2,3 | 267,500 | |||
After Services, Inc. - Tranche 21,2,3 | 267,500 | |||
Hearth Display, Inc.1,2,3 | 250,000 | |||
SweatPals, Inc.1,2,3 | 125,000 | |||
The Last Gameboard, Inc.1,2,3 | 250,000 | |||
Total Consumer Technology | 1,160,000 | |||
Education Technology - 2.4% | ||||
EdInvent, Inc. dba Accredible1,2,3 | 312,500 | |||
Financial Technology - 4.0% | ||||
EarlyBird Central, Inc.1,2,3 | 410,000 | |||
Nada Holdings, Inc.1,2,3 | 108,000 | |||
Total Financial Technology | 518,000 | |||
Healthcare - 3.9% | ||||
Lazzaro Medical, Inc.1,2,3 | 262,500 | |||
Pear Suite, Inc.1,2,3 | 250,000 | |||
Total Healthcare | 512,500 | |||
Health Technology - 8.8% | ||||
Grapefruit Health, Inc.1,2,3 | 125,000 | |||
Parallel Health, Inc.1,2,3 | 262,500 | |||
Time Therapeutics Inc. (Hone Health)1,2,3 | 250,000 | |||
Wyndly Health, Inc.1,2,3 | 500,000 | |||
Total Digital Health | 1,137,500 | |||
Logistics Technology - 1.9% | ||||
Shappi, Inc.1,2,3 | 250,000 | |||
Property Technology - 2.0% | ||||
Cloud Apartments, Inc.1,2,3 | 250,000 | |||
Total Simple Agreements for Future Equity in Portfolio Companies (Cost $4,950,000) | 5,110,500 | |||
Warrants - 0.0% | ||||
Financial Technology - 0.0% | ||||
Trellis Technologies, Inc., shares 25,000, exercise price $0, expiration date 5/31/29 1,2,3 | - | |||
Property Technology - 0.0% | ||||
Havenly, Inc., shares 31,924, exercise price $2.1206, expiration date 2/17/2028 1,2,3 | - | |||
Total Warrants (Cost $0) | - | |||
Short-Term Investments - 31.0% | ||||
Goldman Sachs Financial Square Government Fund - Institutional Class, 5.14%, shares 4,004,3846 | $ | 4,004,384 | ||
Total Short-Term Investments (Cost $4,004,384) | 4,004,384 | |||
Total Investments (Cost $12,974,380) - 103.0% | 13,306,146 | |||
Liabilities in excess of other assets - (3.0%) | (386,170 | ) | ||
Net Assets - 100% | $ | 12,919,976 |
P.B.C. - Public Benefit Corporation
LP - Limited Partnership
LLC - Limited Liability Company
1 | Restricted security. The total value of these securities is $9,301,762, which represents 72.0% of Fund net assets. Please refer to Restricted Securities in the Notes to the Schedule of Investments. |
2 | Non-Income Producing |
3 | Level 3 securities fair valued using significant unobservable inputs. The total value of these securities is $8,852,910, which represents 68.5% of Fund net assets. |
4 | Investment valued using net asset value per share (or its equivalent) as a practical expedient. |
5 | Affiliated investment for which ownership exceeds 5% of the investment’s capital. |
6 | Rate disclosed represents the seven day yield as of period end. |
Sweater Cashmere Fund
Notes to the schedule of investments
JUNE 30, 2023 (unaudited)
Restricted Securities
Restricted securities include securities that have not been registered under the Securities Act of 1933, as amended, and securities that are subject to restrictions on resale. The Fund may invest in restricted securities that are consistent with the Fund’s investment objectives and investment strategies. Investments in restricted securities are valued at fair value as determined in good faith in accordance with procedures adopted by the Board of Trustees.
Additional information on each restricted investment held by the Fund on June 30, 2023 is as follows:
Initial | Fair | % of | ||||||||||||
Investments | Acquisition Date | Cost | Value | Net Assets | ||||||||||
After Services, Inc. - Tranche 1 | 6/6/2022 | $ | 250,000 | $ | 267,500 | 2.1 | % | |||||||
After Services, Inc. - Tranche 2 | 6/6/2022 | 250,000 | 267,500 | 2.1 | % | |||||||||
Cabinet Health P.B.C. | 2/14/2023 | 500,000 | 500,000 | 3.9 | % | |||||||||
Cloud Apartments, Inc. | 5/8/2023 | 250,000 | 250,000 | 1.9 | % | |||||||||
Curate Capital Fund I, LP | 7/1/2022 | 170,000 | 158,404 | 1.2 | % | |||||||||
Drupely, Inc. dba Graza | 6/17/2022 | 200,000 | 220,000 | 1.7 | % | |||||||||
EarlyBird Central, Inc. | 6/3/2022 | 400,000 | 410,000 | 3.1 | % | |||||||||
EdInvent, Inc. dba Accredible | 7/29/2022 | 250,000 | 312,500 | 2.4 | % | |||||||||
Eloit Street, Inc. dba Guest House Series C-2 Preferred Stock | 11/8/2022 | 300,000 | 300,000 | 2.3 | % | |||||||||
FEAT Socks, Inc. | 6/15/2022 | 250,000 | 250,000 | 1.9 | % | |||||||||
Frances Valentine, LLC | 11/18/2022 | 500,000 | 500,000 | 4.0 | % | |||||||||
Ganas Ventures I, a series of Ganas Ventures, LP | 7/1/2022 | 125,000 | 115,921 | 0.9 | % | |||||||||
GO, Inc. Series Seed-1 Preferred Stock | 11/18/2022 | 500,000 | 519,640 | 4.1 | % | |||||||||
Grapefruit Health, Inc. | 5/2/2023 | 125,000 | 125,000 | 1.0 | % | |||||||||
Havenly, Inc. Warrants | 2/10/2023 | - | - | 0.0 | % | |||||||||
Havenly, Inc., Series C-1 Preferred Stock | 2/10/2023 | 249,996 | 249,996 | 1.9 | % | |||||||||
Hearth Display, Inc. | 1/6/2023 | 250,000 | 250,000 | 1.9 | % | |||||||||
Time Therapeutics Inc. (Hone Health) | 5/25/2023 | 250,000 | 250,000 | 1.9 | % | |||||||||
Impressionism Capital Fund I, L.P. | 4/20/2023 | 25,000 | 25,000 | 0.2 | % | |||||||||
IQ Bar, Inc. Series B Preferred Stock | 8/12/2022 | 250,000 | 250,000 | 1.9 | % | |||||||||
IsoTalent, Inc. - Series Seed-1 Preferred Stock | 7/8/2022 | 1,000,000 | 1,099,503 | 8.5 | % | |||||||||
Lazzaro Medical, Inc. | 7/1/2022 | 250,000 | 262,500 | 2.0 | % | |||||||||
Nada Holdings, Inc. | 6/17/2022 | 100,000 | 108,000 | 0.9 | % | |||||||||
Nomadica Series Seed-6 Preferred Stock | 7/1/2022 | 250,000 | 300,370 | 2.4 | % | |||||||||
Parallel Health, Inc. | 6/28/2022 | 250,000 | 262,500 | 2.0 | % | |||||||||
Pear Suite, Inc. | 11/14/2022 | 250,000 | 250,000 | 1.9 | % | |||||||||
Shappi, Inc. | 9/16/2022 | 250,000 | 250,000 | 1.9 | % | |||||||||
Stonks Y Combinator Summer 2022 Access Fund, a Series of Stonks Funds, LP - Class A | 9/16/2022 | 150,000 | 149,527 | 1.2 | % | |||||||||
SweatPals, Inc. | 5/3/2023 | 125,000 | 125,000 | 1.0 | % | |||||||||
The Last Game Board, Inc. | 12/9/2022 | 250,000 | 250,000 | 1.9 | % | |||||||||
Trellis Technologies, Inc. | 6/1/2023 | 250,000 | 250,000 | 1.9 | % | |||||||||
Trellis Technologies, Inc. Warrants | 6/1/2023 | - | - | 0.0 | % | |||||||||
True Footage Inc. - Series A Prime Preferred Stock | 7/29/2022 | 250,000 | 272,901 | 2.1 | % | |||||||||
Wyndly Health, Inc. | 9/13/2022 | 500,000 | 500,000 | 3.9 | % | |||||||||
$ | 8,969,996 | $ | 9,301,762 | 72.0 | % |