Fund Evaluator:
RiverPark/Next Century Lg Gr Inst (RPNLX)
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Best Performing in Large Growth Over the Last Year
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Fund Details
RiverPark/Next Century Lg Gr Inst Overview
RiverPark/Next Century Lg Gr Inst (RPNLX) is an actively managed U.S. Equity Large Growth fund. RiverPark Funds launched the fund in 2023.
The investment seeks long-term capital appreciation through investments primarily in securities of large-cap companies. Under normal market conditions, invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of large cap companies. The advisor defines large cap companies as those with market capitalizations, at the time of initial investment, of greater than $7.5 billion. The fund does not target any particular sector, and individual sectors are generally limited to the greater of 15% or 2.5x the weighting of such sector in the Russell 1000® Growth Index. The fund is non-diversified.
About RiverPark/Next Century Lg Gr Inst (RPNLX)
There are 5 members of the management team with an average tenure of 2.59 years: Peter Capouch (2023), Kaj Doerring (2023), Thomas Dignard (2023), Thomas Press (2023), Robert Scott (2023). 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 Russell 1000 Growth TR USD index with a weighting of 100%. RiverPark/Next Century Lg Gr Inst has 41 securities in its portfolio. The top 10 holdings constitute 49.7% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
RiverPark/Next Century Lg Gr Inst is part of the Equity global asset class and is within the U.S. Equity fund group. RiverPark/Next Century Lg Gr Inst has 3.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 92.4%. There is 3.0% 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/Next Century Lg Gr Inst has 4.6% of the portfolio in cash.
Assets Under Management
The fund has $3 million in total assets, which is below the $2 billion average for the Large Growth 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.
RPNLX 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/Next Century Lg Gr Inst expense ratio is high compared to funds in the Large Growth category. RiverPark/Next Century Lg Gr Inst has an expense ratio of 1.00%, which is 4% higher than its category average, making the fund expense ratio grade a D. 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/Next Century Lg Gr Inst has a portfolio turnover rate of 75%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 54% for the Large Growth category.
Recently, in the month of July 2026, RiverPark/Next Century Lg Gr Inst returned -5.4%, which earned it a grade of D, as the Large Growth category had an average return of -3.1%. 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/Next Century Lg Gr Inst has a trailing yield of 0.00%, which is below the 0.06% 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/Next Century Lg Gr Inst Grades
Year to date, the fund has returned 8.4%, 4.6 percentage points better than the category, which translates into a grade of A. The fund has returned 15.6% over the past year (grade of A).
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RPNLX 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 |
|
| RPNLX Return (NAV) | -5.4% | 4.2% | 15.6% | na | na | na |
| RPNLX Grade | D | A | A | na | na | na |
| +/- Category | -2.3% | 2.5% | 6.6% | na | na | na |
| Large Growth Avg | -3.1% | 1.7% | 9.1% | 18.1% | 8.7% | 15.4% |
| RPNLX Tax Cost Ratio | na | na | 1.3% | na | na | na |
RPNLX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| RPNLX Return (NAV) | 8.4% | 14.8% | 27.1% | na | na | na | na | na | na | na | na |
| RPNLX Grade | A | C | D | na | na | na | na | na | na | na | na |
| +/- Category | 4.6% | -0.9% | -2.6% | na | na | na | na | na | na | na | na |
| Large Growth Avg | 3.7% | 15.7% | 29.7% | 38.9% | -32.1% | 20.4% | 42.3% | 33.2% | -0.7% | 29.8% | 2.7% |
| Risk Measures | |
| Standard Deviation: | na |
| Total Risk Index: | na |
| Category Risk Index: | na |
| Category Risk Grade: | |
| Beta: | na |
| R-Squared: | na |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $3 Mil |
| Fund Total Assets: | $ 4 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 75% |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 2.6 years | |||
| Average Tenure: 2.6 years | |||
| Managers (Year): Capouch Peter (2023), Doerring Kaj (2023), Dignard Thomas (2023), Press Thomas (2023), Scott Robert (2023) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 41 |
| % in Top 10 Holdings: | 49.7% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 3.0% |
Portfolio Allocation |
|
| Domestic Stock: | 92.4% |
| Foreign Stock: | 3.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 4.6% |
Purchase Information
| Fund Family: | RiverPark Funds |
| Phone Number: | 888-564-4517 |
| Website: | www.riverparkfunds.com |
| Status: | Open |
| Inception Date: | December 29, 2023 |
| 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 (%): | 1.00% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.96% |
| Share Class: | RiverPark/Next Century Lg Gr Inst |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
