RiverPark Large Growth Fund
Name
As of 04/16/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
5.3%
1 yr return
36.4%
3 Yr Avg Return
-5.5%
5 Yr Avg Return
9.7%
Net Assets
$36.2 M
Holdings in Top 10
38.9%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.01%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 36.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$50,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/16/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
RPXIX - Profile
Distributions
- YTD Total Return 5.3%
- 3 Yr Annualized Total Return -5.5%
- 5 Yr Annualized Total Return 9.7%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.46%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameRiverPark Large Growth Fund
-
Fund Family NameRiverPark Funds
-
Inception DateSep 30, 2010
-
Shares Outstanding1247888
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMitchell Rubin
Fund Description
RiverPark Growth seeks long-term capital appreciation by investing in equity securities of large capitalization companies that RiverPark believes have above-average growth prospects. Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in the securities of large capitalization companies. The Fund invests primarily in common stocks. The Fund considers companies with market capitalizations in excess of $5 billion to be large capitalization companies. RiverPark 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 those companies at attractive valuations. The Fund invests primarily in the securities of U.S. companies, but it may also invest outside the U.S.
The Fund invests in industries that RiverPark believes are the beneficiaries of long-term secular changes in the global economy and companies within those industries that are gaining market share and have, what RiverPark believes to be, long-term sustainable competitive advantages and positions protected by strong barriers to entry. RiverPark seeks companies with latent pricing power, expanding free cash flow and a high return on invested capital. RiverPark also looks for companies with strong and experienced management teams with clear business objectives. RiverPark believes it can gain an investment advantage not only through its primary research and by developing conviction in business models, but also because it invests with a long-term time horizon.
RiverPark’s investment process includes several well-defined steps. First, RiverPark frames the investment opportunity by analyzing the investment characteristics of both the industry and the specific company with a focus on the medium- and long-term secular and structural dynamics involved, such as sustainable competitive advantages, barriers to entry, technological innovation, changes in government regulation and demographic trends. The next step includes fundamental research, including company visits and primary research of competitors, customers and suppliers, as RiverPark seeks to gain conviction in both the competitive dynamics within the industry and the reputation, skill and drive of the management team. Finally, RiverPark creates and maintains detailed, proprietary financial models of the revenues, earnings and cash flows of each potential investment and establishes price targets that encompass its view of the company’s future enterprise value. RiverPark’s purchase and sell disciplines are driven by combining its own proprietary projections of the future fundamentals of a business with what it believes are conservative valuation metrics. Generally, a security will be sold from the portfolio when RiverPark believes its assessment of the security’s intrinsic value has been realized, when the security is underperforming, or when its risk management or industry concentration guidelines suggest reducing the position.
RiverPark’s goal is to invest only when it can firmly establish conviction in the business prospects of the company and when it believes valuations are compelling. RiverPark looks for the opportunity to invest in its high conviction ideas at times when it believes a company’s prospects are misunderstood by other investors or analysts, the markets react to short-term events, and/or business models change.
RPXIX - Performance
Return Ranking - Trailing
Period | RPXIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 5.3% | -15.5% | 20.9% | 81.95% |
1 Yr | 36.4% | -22.1% | 61.0% | 30.90% |
3 Yr | -5.5%* | -31.0% | 22.5% | 94.73% |
5 Yr | 9.7%* | -16.4% | 29.0% | 90.44% |
10 Yr | 9.8%* | -5.7% | 18.8% | 90.48% |
* Annualized
Return Ranking - Calendar
Period | RPXIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 51.6% | -74.1% | 72.4% | 4.39% |
2022 | -47.4% | -85.9% | 4.7% | 92.31% |
2021 | -2.4% | -52.4% | 60.5% | 78.25% |
2020 | 45.3% | -34.3% | 145.0% | 12.09% |
2019 | 18.2% | -21.8% | 49.4% | 83.65% |
Total Return Ranking - Trailing
Period | RPXIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 5.3% | -15.5% | 20.9% | 81.95% |
1 Yr | 36.4% | -22.1% | 61.0% | 30.90% |
3 Yr | -5.5%* | -31.0% | 22.5% | 94.73% |
5 Yr | 9.7%* | -16.4% | 29.0% | 90.44% |
10 Yr | 9.8%* | -5.7% | 18.8% | 90.48% |
* Annualized
Total Return Ranking - Calendar
Period | RPXIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 51.6% | -4.6% | 72.4% | 7.14% |
2022 | -47.4% | -61.7% | 5.6% | 95.37% |
2021 | 10.7% | -39.8% | 118.1% | 88.06% |
2020 | 55.3% | 2.8% | 149.2% | 11.90% |
2019 | 30.8% | -5.2% | 49.4% | 68.85% |
NAV & Total Return History
RPXIX - Holdings
Concentration Analysis
RPXIX | Category Low | Category High | RPXIX % Rank | |
---|---|---|---|---|
Net Assets | 36.2 M | 242 K | 269 B | 94.70% |
Number of Holdings | 42 | 1 | 3217 | 76.12% |
Net Assets in Top 10 | 16.5 M | 104 K | 111 B | 94.94% |
Weighting of Top 10 | 38.93% | 0.7% | 205.0% | 83.16% |
Top 10 Holdings
- MICROSOFT CORP COMMON STOCK 5.11%
- AMAZON.COM INC COMMON STOCK 4.36%
- APPLE INC COMMON STOCK 4.27%
- BROWN BROTHERS HARRIMAN SWEEP INTEREST 4.09%
- META PLATFORMS INC COMMON STOCK 4.07%
- UBER TECHNOLOGIES INC COMMON STOCK 3.84%
- NETFLIX INC COMMON STOCK 3.40%
- SHOPIFY INC - CLASS A COMMON STOCK 3.37%
- BLACKSTONE INC COMMON STOCK 3.23%
- MASTERCARD INC - A COMMON STOCK 3.19%
Asset Allocation
Weighting | Return Low | Return High | RPXIX % Rank | |
---|---|---|---|---|
Stocks | 95.86% | 0.00% | 130.05% | 91.73% |
Cash | 4.14% | -1.50% | 173.52% | 8.10% |
Preferred Stocks | 0.00% | 0.00% | 7.84% | 91.98% |
Other | 0.00% | -43.49% | 50.04% | 86.33% |
Convertible Bonds | 0.00% | 0.00% | 1.94% | 89.69% |
Bonds | 0.00% | 0.00% | 104.15% | 90.55% |
Stock Sector Breakdown
Weighting | Return Low | Return High | RPXIX % Rank | |
---|---|---|---|---|
Technology | 34.70% | 0.00% | 65.70% | 54.61% |
Communication Services | 29.21% | 0.00% | 66.40% | 0.34% |
Financial Services | 21.18% | 0.00% | 43.06% | 3.97% |
Healthcare | 7.56% | 0.00% | 39.76% | 91.80% |
Consumer Cyclical | 7.35% | 0.00% | 62.57% | 94.42% |
Utilities | 0.00% | 0.00% | 16.07% | 93.41% |
Real Estate | 0.00% | 0.00% | 16.05% | 96.53% |
Industrials | 0.00% | 0.00% | 30.65% | 99.75% |
Energy | 0.00% | 0.00% | 41.09% | 95.94% |
Consumer Defense | 0.00% | 0.00% | 25.50% | 98.99% |
Basic Materials | 0.00% | 0.00% | 18.91% | 97.97% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | RPXIX % Rank | |
---|---|---|---|---|
US | 95.86% | 0.00% | 130.05% | 77.64% |
Non US | 0.00% | 0.00% | 78.10% | 93.67% |
RPXIX - Expenses
Operational Fees
RPXIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.01% | 0.01% | 19.54% | 45.18% |
Management Fee | 0.65% | 0.00% | 1.50% | 61.86% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | 0.09% | 0.01% | 1.02% | 43.28% |
Sales Fees
RPXIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.25% | 8.50% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
RPXIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 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.
RPXIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 36.00% | 0.00% | 316.74% | 55.44% |
RPXIX - Distributions
Dividend Yield Analysis
RPXIX | Category Low | Category High | RPXIX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 28.10% | 96.62% |
Dividend Distribution Analysis
RPXIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annually | Annual | Annual |
Net Income Ratio Analysis
RPXIX | Category Low | Category High | RPXIX % Rank | |
---|---|---|---|---|
Net Income Ratio | -0.46% | -6.13% | 3.48% | 61.95% |
Capital Gain Distribution Analysis
RPXIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 30, 2022 | $0.001 | OrdinaryDividend |
Dec 16, 2021 | $4.083 | OrdinaryDividend |
Dec 17, 2019 | $2.554 | OrdinaryDividend |
Dec 29, 2017 | $0.008 | OrdinaryDividend |
Dec 30, 2016 | $0.099 | OrdinaryDividend |
Dec 31, 2015 | $0.003 | OrdinaryDividend |
Dec 31, 2013 | $0.036 | OrdinaryDividend |
Dec 31, 2012 | $0.024 | OrdinaryDividend |
Dec 31, 2010 | $0.059 | OrdinaryDividend |
RPXIX - Fund Manager Analysis
Managers
Mitchell Rubin
Start Date
Tenure
Tenure Rank
Sep 30, 2010
11.67
11.7%
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 |
---|---|---|---|
0.04 | 54.45 | 8.2 | 2.92 |