Riverpark Advisors

Overview

RiverPark Focused Value seeks long-term capital appreciation by investing in large capitalization US equity securities that the Fund's Investment Advisor believes are trading at substantial discounts to intrinsic value. The Fund is a high conviction strategy and intends to be concentrated, with generally 20-25 investments.

The Fund’s investments will generally fall into two categories: high-quality businesses at reasonable prices and businesses impacted by temporary challenges. The Fund seeks to invest in businesses that are durable and predictable, run by shareholder-oriented management teams and where we believe our internally generated projections of future cash flows when combined with conservative valuation metrics can lead to expected returns in excess of 15% annually over a 3-5 year holding period.



Our Portfolio Manager


David Berkowitz

David joined RiverPark Capital in 2014 as Co-Chief Investment Officer, Portfolio Manager of the RiverPark Focused Value Fund and as a Principal in the firm. David graduated from the Massachusetts Institute of Technology with an SB in Chemical Engineering in 1984 and an SM in Chemical Engineering Practice in 1985. He worked as an engineer for Union Carbide Corporation and Amoco Corporation before receiving an MBA with distinction from Harvard Business School in 1992.In 1992, with a classmate from business school, David founded Gotham Partners, a value-oriented investment partnership. He co-managed Gotham from inception through 2002. In 2003, he joined the Jack Parker Corporation, a New York family office as Chief Investment Officer and managed a focused portfolio of public equities. In 2006, he formed Festina Lente Investment Management, a value-oriented investment partnership and managed that entity through 2008. In 2009 he joined Ziff Brothers Investments where he held numerous investment and managerial roles. Most recently he was Chief Risk and Strategy Officer and a Partner.

David Berkowitz
David Berkowitz

In-Depth Philosophy & Process

RiverPark Focused Value Fund

Performance

Returns as of TBD

NAV Daily YTD
RiverPark Focused Value Fund Institutional (RFVIX)
RiverPark Focused Value Fund Retail (RFVFX)

Returns as of April 30, 2017

MTD YTD 1 Year 3 Years* 5 Years* Since
Inception*
RFVIX - Inception Date: 3/31/2015
RFVFX - Inception Date: 3/31/2015

Returns as of Quarter Ending March 31, 2017

QTD YTD 1 Year 3 Years* 5 Years* Since
Inception*
RFVIX - Inception Date: 3/31/2015
RFVFX - Inception Date: 3/31/2015

* Returns presented for periods less than 1 year are cumulative, returns for periods greater than 1 year are annualized.

Expense Ratio (Gross): Institutional: 0.87%, Retail: 1.28% as of the most recent prospectus dated, January 25, 2018.

Expense Ratio (Net): Institutional: 0.91%, Retail: 1.25% as of the most recent prospectus dated, January 25, 2018.

The performance quoted herein represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost, and current performance may be higher or lower than the performance.

Full Holdings *

As of TBD

Security Ticker % of Total Portfolio

Holdings Subject to change.

*The positions reflected above are a list of the long equity positions held by the Fund. The position weightings are the result of the total market value of each long equity security over the total market value of the long equity securities and the settlement date basis cash balance(s) of the Fund.