ABS Long/Short Strategies Fund
SCHEDULE OF INVESTMENTS
As of July 31, 2026 (Unaudited)
| Original Acquisition Date | Cost | Fair Value | Redemptions Permitted | Redemption Notice Period | ||||||||||
| INVESTMENTS IN PORTFOLIO FUNDS* a,b ‒ 98.0% | ||||||||||||||
| CHINA EQUITY LONG/SHORT ‒ 2.4% | ||||||||||||||
| IvyRock China Focus Feeder Fund - Class C | 4/1/2019 | $ | 3,201,831 | $ | 6,417,797 | Monthly | 30 Days f | |||||||
| CYCLICALS EQUITY LONG/SHORT ‒ 17.8% | ||||||||||||||
| Energy Dynamics Fund Limited - Class D | 4/1/2018 | 5,959,341 | 10,426,912 | Monthly | 90 Days d | |||||||||
| Forest Avenue Offshore Fund, Ltd. | 10/1/2022 | 6,439,046 | 14,934,629 | Quarterly | 60 Days e | |||||||||
| Incision Capital Master Fund L.P. | 7/1/2025 | 8,000,000 | 8,394,652 | Quarterly | 45 Days | |||||||||
| Riposte Global Opportunity Fund, L.P. Founders 2 | 2/1/2016 | 6,546,924 | 13,116,287 | Quarterly | 30 Days | |||||||||
| 26,945,311 | 46,872,480 | |||||||||||||
| EUROPEAN EQUITY LONG/SHORT ‒ 8.9% | ||||||||||||||
| Lancaster European LS Equity, Ltd.i | 2/1/2023 | 10,092,067 | 14,813,973 | Quarterly | 60 Days | |||||||||
| Lansdowne Developed Markets Long Only Fund, Ltd. | 3/1/2023 | 5,130,000 | 8,583,180 | Monthly | 30 Days c | |||||||||
| 15,222,067 | 23,397,153 | |||||||||||||
| EVENT DRIVEN EQUITY LONG/SHORT ‒ 4.0% | ||||||||||||||
| Hunters Moon Eclipse Fund, Ltd. | 2/1/2025 | 9,000,000 | 10,636,301 | Monthly | 30 Days d | |||||||||
| FINANCIAL EQUITY LONG/SHORT ‒ 8.5% | ||||||||||||||
| Azora Offshore Fund, Ltd. | 5/1/2018 | 7,122,458 | 13,088,332 | Quarterly | 45 Days | |||||||||
| Rhino Small-Cap Financial Fund, L.P. | 1/1/2023 | 6,700,000 | 9,358,392 | Quarterly | 60 Days | |||||||||
| 13,822,458 | 22,446,724 | |||||||||||||
| GLOBAL EQUITY LONG/SHORT ‒ 6.7% | ||||||||||||||
| 140 Summer Partners Offshore, Ltd. | 7/1/2020 | 8,208,656 | 13,763,847 | Quarterly | 60 Days e | |||||||||
| Vellichor Offshore Fund, Ltd. | 1/1/2026 | 5,500,000 | 4,092,431 | Quarterly | 45 Days | |||||||||
| 13,708,656 | 17,856,278 | |||||||||||||
| HEALTH CARE EQUITY LONG/SHORT ‒ 17.8% | ||||||||||||||
| Averill Fund, Ltd. | 11/1/2020 | 3,630,733 | 7,678,812 | Quarterly | 60 Days e | |||||||||
| BCM Scout International, Ltd. | 5/1/2022 | 9,000,000 | 13,203,403 | Quarterly | 45 Days e | |||||||||
| Janus Henderson Biotech Innovation Fund, Ltd. | 2/1/2022 | 2,202,159 | 9,431,176 | Quarterly | 60 Days | |||||||||
| Seligman Healthcare Spectrum Fund LLC | 5/1/2025 | 10,000,000 | 16,677,440 | Monthly | 30 Days | |||||||||
| 24,832,892 | 46,990,831 | |||||||||||||
| LATIN AMERICA ‒ 4.6% | ||||||||||||||
| Sagil Latin American Opportunities Fund - Class B | 4/1/2017 | 6,370,004 | 12,146,152 | Monthly | 90 Days | |||||||||
| TMT EQUITY LONG ‒ 6.9% | ||||||||||||||
| IPPE Liquid (Cayman), L.P. | 10/1/2023 | 3,917,697 | 8,317,684 | Monthly | 45 Days | |||||||||
| Islander Capital Fund, L.P. | 8/1/2025 | 10,000,000 | 9,962,555 | Quarterly | 45 Days g | |||||||||
| 13,917,697 | 18,280,239 | |||||||||||||
| TMT EQUITY LONG/SHORT ‒ 13.1% | ||||||||||||||
| Atreides 150/50 Technology Fund, Ltd. | 1/1/2026 | 3,500,000 | 4,487,752 | Quarterly | 60 Days h | |||||||||
| Atreides Foundation Fund, Ltd. | 12/1/2020 | 5,872,436 | 12,113,763 | Quarterly | 60 Days g,h | |||||||||
| Seligman Tech Spectrum Fund LLC | 1/1/2016 | 3,986,310 | 17,827,568 | Monthly | 30 Days | |||||||||
| 13,358,746 | 34,429,083 | |||||||||||||
| Original Acquisition Date | Cost | Fair Value | Redemptions Permitted | Redemption Notice Period | ||||||||||
| U.S. SMALL CAP ‒ 7.3% | ||||||||||||||
| Medina Value Partners I, L.P. | 8/1/2020 | 8,337,474 | 15,269,000 | Quarterly | 30 Days | |||||||||
| Voss Value-Oriented Special Situations Fund, L.P. | 8/1/2023 | 3,000,000 | 4,133,089 | Quarterly | 45 Days | |||||||||
| 11,337,474 | 19,402,089 | |||||||||||||
| TOTAL INVESTMENTS IN PORTFOLIO FUNDS ‒ 98.0% | 151,717,136 | 258,875,127 | ||||||||||||
| TOTAL INVESTMENTS ‒ 98.0% | 151,717,136 | 258,875,127 | ||||||||||||
| Other Assets in Excess of Liabilities ‒ 2.0% | 5,204,353 | |||||||||||||
| SHAREHOLDERS' CAPITAL ‒ 100.0% | $ | 264,079,480 | ||||||||||||
| * | All Portfolio Funds are non-income producing securities. |
| a | Portfolio Funds are issued in private placement transactions and as such are restricted as to resale. The total cost and fair value of these restricted investments as of July 31, 2026 was $151,717,136 and $258,875,127 respectively. |
| b | All Investments in Portfolio Funds are pledged as collateral for the Fund's Line of Credit. |
| c | The Portfolio Fund can institute a gate provision on redemptions at the fund level of 10% of the fair value of the investment in the Portfolio Fund. |
| d | The Portfolio Fund can institute a gate provision on redemptions at the fund level of 10-25% of the fair value of the investment in the Portfolio Fund. |
| e | The Portfolio Fund can institute a gate provision on redemptions at the investor level of 25%-33% of the fair value of the investment in the Portfolio Fund per quarter. |
| f | The Portfolio Fund can institute a gate provision on redemptions at the fund level of 30% of the fair value of the investment in the Portfolio Fund. |
| g | The Portfolio Fund can institute a gate provision on redemptions at the investor level of 50% of the fair value of the investment in the Portfolio Fund per quarter. |
| h | The Portfolio Fund can institute a gate provision on redemptions at the fund level of 50% of the fair value of the investment in the Portfolio Fund. |
| i | Affiliated investments for which ownership exceeds 5% of the investment’s capital. |