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Trending ETFs

Name

As of 03/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$13.16

$42.3 M

0.00%

$0.00

1.89%

Vitals

YTD Return

7.3%

1 yr return

37.7%

3 Yr Avg Return

-9.1%

5 Yr Avg Return

4.0%

Net Assets

$42.3 M

Holdings in Top 10

50.9%

52 WEEK LOW AND HIGH

$13.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.89%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 33.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$50,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$13.16

$42.3 M

0.00%

$0.00

1.89%

RLSIX - Profile

Distributions

  • YTD Total Return 7.3%
  • 3 Yr Annualized Total Return -9.1%
  • 5 Yr Annualized Total Return 4.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -1.29%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    RiverPark Long/Short Opportunity Fund
  • Fund Family Name
    RiverPark Funds
  • Inception Date
    Sep 30, 2009
  • Shares Outstanding
    14890223
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Mitchell Rubin

Fund Description

RiverPark Long/Short seeks long-term capital appreciation while managing downside volatility by investing long in equity securities that RiverPark believes have above-average growth prospects and selling short equity securities the Adviser believes are competitively disadvantaged over the long term. The Fund invests primarily in the securities of U.S. companies, but it may also invest outside the U.S. The Fund limits its investments in the securities of foreign issuers to no more than 15% of its assets. The equity securities in which the Fund invests are primarily common stocks. The Fund may invest in the equity securities of issuers with small, medium or large market capitalizations.

The Fund is an opportunistic long/short investment fund. The Fund’s investment goal is to achieve above average rates of return with less volatility and less downside risk as compared to U.S. equity markets. The Fund seeks to accomplish its objective through in-depth, long-term, fundamental research. The Fund focuses its research on what the Adviser believes to be the dominant secular, economic and demographic changes in society. The Adviser seeks to identify the industries and companies most affected, positively or negatively, by these changes. On the long side, the Adviser seeks to identify those companies that the Adviser believes have strong growth prospects, best in class management teams, strong pricing power, large market opportunities and high returns on capital. The Adviser uses fundamental research to identify those industries and companies with the strongest growth prospects for revenue, earnings and/or cash flow over the medium and long term and seeks to buy stock in companies at attractive valuations. In addition, on the short side, the Adviser seeks to identify those companies that the Adviser believes have low quality management teams, a history of poor capital allocation, are losing competitive and pricing advantage and may have contracting earnings for the foreseeable future. The Adviser then employs a value discipline in constructing the Fund’s portfolio and seeks to purchase and/or sell short securities if and only if the Adviser believes that the current price does not properly reflect the company’s long-term prospects and risks.

Individual company derivatives may be used to enhance the risk return profile of specific investment opportunities, and market index derivatives may be employed to manage market and industry exposure. The types of derivatives in which the Fund may invest include call options, put options and swap contracts. The Fund will primarily use options, calls and puts, to make investments that have less downside risk as compared to investment directly in the equities underlying the option. The Fund does not intend to use options for the purpose of gaining leverage to any material degree. Examples of strategies that the Fund may pursue using options include: (i) selling calls on existing positions, (ii) selling puts in cases where a decline in the value of a stock would trigger the Adviser’s decision to purchase the stock pursuant to the Fund’s strategy, (iii) purchasing calls where the Adviser perceives there to be significant downside risk associated with the underlying stock, and (iv) purchasing puts to hedge existing long positions. The Fund may also use swaps when the Adviser determines such contracts to be a cost effective and more efficient manner to gain exposure to securities as compared to direct investment in the underlying security.

The Fund may sell securities short so long as, as a result of that sale, the current value of securities sold short by the Fund does not exceed 50% of the value of its gross assets (including the amounts borrowed) and 100% of the value of its net assets. The amount of shorts in the portfolio at any given time will be dependent on finding attractively priced short ideas and the desire to manage the overall net market exposure of the Fund. Additionally, the Fund’s principal investment strategy may include borrowing so long as the Fund limits its borrowing to no more than 30% of its total assets (including the amounts borrowed). Selling securities short and borrowing are considered forms of leverage.

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RLSIX - Performance

Return Ranking - Trailing

Period RLSIX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.3% -10.3% 17.3% 38.01%
1 Yr 37.7% -13.1% 44.0% 5.26%
3 Yr -9.1%* -21.2% 30.6% 98.68%
5 Yr 4.0%* -4.2% 25.2% 73.91%
10 Yr 4.5%* -4.2% 9.9% 59.09%

* Annualized

Return Ranking - Calendar

Period RLSIX Return Category Return Low Category Return High Rank in Category (%)
2023 43.8% -17.3% 43.8% 0.58%
2022 -53.9% -54.0% 17.4% 99.36%
2021 2.1% -40.0% 54.1% 63.33%
2020 54.7% -47.6% 88.4% 1.39%
2019 6.9% -20.3% 62.6% 68.38%

Total Return Ranking - Trailing

Period RLSIX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.3% -10.3% 17.3% 38.01%
1 Yr 37.7% -13.1% 44.0% 5.26%
3 Yr -9.1%* -21.2% 30.6% 98.68%
5 Yr 4.0%* -4.2% 25.2% 73.91%
10 Yr 4.5%* -4.2% 9.9% 59.09%

* Annualized

Total Return Ranking - Calendar

Period RLSIX Return Category Return Low Category Return High Rank in Category (%)
2023 43.8% -14.5% 43.8% 0.58%
2022 -53.9% -54.0% 50.3% 99.36%
2021 2.1% -40.0% 61.6% 77.33%
2020 54.7% -29.9% 91.0% 1.39%
2019 18.7% -17.9% 79.4% 16.91%

NAV & Total Return History


RLSIX - Holdings

Concentration Analysis

RLSIX Category Low Category High RLSIX % Rank
Net Assets 42.3 M 1.04 M 6.15 B 72.09%
Number of Holdings 93 2 1788 57.99%
Net Assets in Top 10 24.3 M 474 K 1.98 B 69.82%
Weighting of Top 10 50.86% 0.4% 101.9% 40.24%

Top 10 Holdings

  1. BROWN BROTHERS HARRIMAN SWEEP INTEREST 18.13%
  2. MICROSOFT CORP COMMON STOCK 5.13%
  3. META PLATFORMS INC COMMON STOCK 4.10%
  4. APPLE INC COMMON STOCK 4.01%
  5. AMAZON.COM INC COMMON STOCK 3.79%
  6. UBER TECHNOLOGIES INC COMMON STOCK 3.60%
  7. SHOPIFY INC - CLASS A COMMON STOCK 3.22%
  8. NETFLIX INC COMMON STOCK 3.12%
  9. BLACKSTONE INC COMMON STOCK 3.01%
  10. BOOKING HOLDINGS INC COMMON STOCK 2.75%

Asset Allocation

Weighting Return Low Return High RLSIX % Rank
Stocks
81.69% 0.00% 102.24% 27.81%
Cash
20.14% 0.00% 102.08% 57.99%
Preferred Stocks
0.00% 0.00% 8.72% 79.29%
Convertible Bonds
0.00% -0.02% 4.48% 74.23%
Bonds
0.00% 0.00% 95.60% 79.29%
Other
-1.83% -45.12% 99.51% 93.49%

Stock Sector Breakdown

Weighting Return Low Return High RLSIX % Rank
Technology
35.93% 0.00% 43.24% 3.52%
Communication Services
28.21% 0.00% 32.32% 2.82%
Financial Services
21.05% 0.00% 83.83% 23.24%
Healthcare
7.58% 0.00% 100.00% 83.80%
Consumer Cyclical
7.23% 0.00% 88.83% 79.58%
Utilities
0.00% 0.00% 21.71% 93.66%
Real Estate
0.00% 0.00% 10.93% 95.77%
Industrials
0.00% 0.00% 31.93% 98.59%
Energy
0.00% 0.00% 32.57% 97.18%
Consumer Defense
0.00% 0.00% 33.38% 98.59%
Basic Materials
0.00% 0.00% 28.58% 98.59%

Stock Geographic Breakdown

Weighting Return Low Return High RLSIX % Rank
US
81.69% 0.00% 102.24% 26.63%
Non US
0.00% -3.09% 67.69% 78.70%

RLSIX - Expenses

Operational Fees

RLSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.89% 0.42% 8.51% 59.88%
Management Fee 1.50% 0.00% 2.50% 85.47%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.09% 0.03% 1.54% 25.64%

Sales Fees

RLSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

RLSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

RLSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 33.00% 0.00% 479.00% 22.96%

RLSIX - Distributions

Dividend Yield Analysis

RLSIX Category Low Category High RLSIX % Rank
Dividend Yield 0.00% 0.00% 26.99% 92.98%

Dividend Distribution Analysis

RLSIX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Quarterly Annual

Net Income Ratio Analysis

RLSIX Category Low Category High RLSIX % Rank
Net Income Ratio -1.29% -3.33% 2.16% 72.94%

Capital Gain Distribution Analysis

RLSIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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RLSIX - Fund Manager Analysis

Managers

Mitchell Rubin


Start Date

Tenure

Tenure Rank

Mar 30, 2012

10.18

10.2%

Mr. Rubin is the Co-Chief Investment Officer of RiverPark. Mr. Rubin received a BA in Economics and Political Science from the University of Michigan in 1988 and a JD from Harvard Law School in 1991. From 1991 to 1994, he was an associate at Latham & Watkins specializing in corporate finance transactions. From 1994 until joining Baron Capital in November of 1995, Mr. Rubin was an equity research analyst for Smith Barney, focusing on emerging growth stocks. In 1995, he joined Baron Capital as a research analyst covering consumer/retail, gaming/leisure/lodging and real estate. In 1999, he was co-portfolio manager for Baron Growth Fund. He served as portfolio manager for the Baron iOpportunity Fund, a technology-focused mutual fund, from the fund’s inception in March 2000 through March 2006, and was also the portfolio manager of Baron Fifth Avenue Growth Fund, a large-cap growth mutual fund, from the fund’s inception in May 2004 through March 2006. From June 2006 to June 2008, he was a managing general partner of RiverPark Partners, a long/short equity fund. From its inception on October 2, 2009, Mr. Rubin was the portfolio manager for the RiverPark Growth ETF and the leader of the team that managed the RiverPark Financials ETF.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 23.55 6.05 7.93