Fund Evaluator:
RiverPark Long/Short Opportunity Instl (RLSIX)
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Best Performing in Long-Short Equity Over the Last Year
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Fund Details
RiverPark Long/Short Opportunity Instl Overview
RiverPark Long/Short Opportunity Instl (RLSIX) is an actively managed Nontraditional Equity Long-Short Equity fund. RiverPark Funds launched the fund in 2012.
The investment seeks long-term capital appreciation while managing downside volatility. The fund 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. It 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.
About RiverPark Long/Short Opportunity Instl (RLSIX)
There are 1 members of the management team with an average tenure of 3.67 years: Conrad van Tienhoven (2022). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Morningstar Long/Short Equity Cat index with a weighting of 100%. RiverPark Long/Short Opportunity Instl has 109 securities in its portfolio. The top 10 holdings constitute 49.8% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
RiverPark Long/Short Opportunity Instl is part of the Equity global asset class and is within the Nontraditional Equity fund group. RiverPark Long/Short Opportunity Instl has 5.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 69.3%. There is 5.8% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). RiverPark Long/Short Opportunity Instl has 5.2% of the portfolio in cash.
Assets Under Management
The fund has $22 million in total assets, which is below the $352 million average for the Long-Short Equity category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
RLSIX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The RiverPark Long/Short Opportunity Instl expense ratio is high compared to funds in the Long-Short Equity category. RiverPark Long/Short Opportunity Instl has an expense ratio of 1.85%, which is 16% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. RiverPark Long/Short Opportunity Instl has a portfolio turnover rate of 20%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 287% for the Long-Short Equity category.
Recently, in the month of July 2026, RiverPark Long/Short Opportunity Instl returned 0.6%, which earned it a grade of C, as the Long-Short Equity category had an average return of 2.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
RiverPark Long/Short Opportunity Instl has a trailing yield of 0.00%, which is below the 1.15% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
RiverPark Long/Short Opportunity Instl Grades
Year to date, the fund has returned -2.3%, 9.7 percentage points worse than the category, which translates into a grade of F. The fund has returned 0.9% over the past year (grade of F), 10.0% over the past three years (grade of C) and -5.5% per year over the past five years (grade of F) and 6.5% per year over the past 10 years (grade of D).
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RLSIX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| RLSIX Return (NAV) | 0.6% | 0.6% | 0.9% | 10.0% | -5.5% | 6.5% |
| RLSIX Grade | C | F | F | C | F | D |
| +/- Category | -2.0% | -3.0% | -13.2% | -1.9% | -14.4% | -1.4% |
| Long-Short Equity Avg | 2.6% | 3.6% | 14.1% | 11.9% | 8.8% | 7.9% |
| RLSIX Tax Cost Ratio | na | na | 0.0% | 0.0% | 0.0% | 0.6% |
RLSIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| RLSIX Return (NAV) | -2.3% | 8.6% | 16.1% | 43.8% | -53.9% | 2.1% | 54.7% | 19.9% | -2.1% | 22.1% | -1.7% |
| RLSIX Grade | F | C | B | A | F | F | A | A | A | A | F |
| +/- Category | -9.7% | -2.9% | 2.7% | 30.8% | -50.1% | -19.1% | 48.9% | 6.6% | 5.9% | 10.5% | -9.0% |
| Long-Short Equity Avg | 7.5% | 11.4% | 13.4% | 13.0% | -3.8% | 21.2% | 5.8% | 13.3% | -7.9% | 11.6% | 7.3% |
| Risk Measures | |
| Standard Deviation: | 13.2% |
| Total Risk Index: | 1.08 - Above Average |
| Category Risk Index: | 1.24 - High |
| Category Risk Grade: | F (88% Rank) |
| Beta: | 0.89 |
| R-Squared: | 78% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $25 Mil |
| Fund Total Assets: | $ 22 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 20% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 3.7 years | |||
| Average Tenure: 3.7 years | |||
| Managers (Year): van Tienhoven Conrad (2022) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 109 |
| % in Top 10 Holdings: | 49.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 5.8% |
Portfolio Allocation |
|
| Domestic Stock: | 69.3% |
| Foreign Stock: | 5.8% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 19.7% |
| Cash: | 5.2% |
Purchase Information
| Fund Family: | RiverPark Funds |
| Phone Number: | 888-564-4517 |
| Website: | www.riverparkfunds.com |
| Status: | Open |
| Inception Date: | March 30, 2012 |
| Min. Initial Purchase: | $50,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 1.85% ( Rating : High ) |
| Category Average Expense Ratio (%): | 2.19% |
| Share Class: | RiverPark Long/Short Opportunity Instl |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
