RiverPark Long/Short Opportunity Fund Q2 2024 Portfolio Review

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The following segment was excerpted from this fund letter.


We started the second quarter 92.74% long, 22.26% short, and 70.47% net. We ended the quarter with slightly less gross exposure and more net exposure at 94.25% long, 18.13% short, and 76.11% net.

Top Contributors to Performance for the Quarter Ended June 30, 2024

Percent Impact

Nvidia Corp. (long)

1.68%

Alphabet (long)

1.07%

Apple, Inc. (long)

0.92%

Portfolio Attribution is produced by RiverPark Advisors, LLC (RiverPark), the Fund’s adviser. Although RiverPark believes that its attribution methodology adheres to generally accepted standards in the industry, attribution analysis is not an exact science and different methodologies may produce different results.

Performance Attribution is shown gross of fees. Holdings are subject

Top Detractors From Performance for the Quarter Ended June 30, 2024

Percent Impact

Walt Disney Company (long)

-0.65%

Adyen N.V. (long)

-0.59%

Five, Inc. (long)

-0.49%

Portfolio Attribution is produced by RiverPark Advisors, LLC (RiverPark), the Fund’s adviser. Although RiverPark believes that its attribution methodology adheres to generally accepted standards in the industry, attribution analysis is not an exact science and different methodologies may produce different results.

Performance Attribution is shown gross of fees. Holdings are subject to change.

Holdings

Percent of Net Assets

Microsoft Corp.

6.8%

Nvidia Corp.

6.0%

Alphabet Inc.

5.6%

Apple Inc.

4.9%

Amazon.com, Inc.

4.5%

Meta Platforms, Inc.

4.4%

Uber Technologies, Inc.

3.4%

Netflix, Inc.

3.2%

Shopify Inc.

3.2%

The Walt Disney Co.

3.0%

44.9%

Holdings subject to change.

Long Portfolio Themes

Short Portfolio Themes

AI/Cloud Computing

16.6%

Alternative Asset Managers

0.6%

Internet Media

13.0%

Consumer Discretionary

0.9%

E-Commerce

7.7%

Consumer Lending

2.4%

Application Software

7.1%

Travel Services

0.7%

Payments

6.2%

Cyclical Industrial

2.7%

Content Streaming

6.2%

Residential Real Estate

1.9%

Mobile Compute

4.9%

Travel and Leisure

1.5%

Alternative Asset Managers

4.6%

Flawed Technology

0.6%

Rides/Delivery

4.1%

Legacy Business Services

1.3%

Healthcare Technology

3.5%

Market Indexes

3.7%

This is a representative (non-exhaustive) list of our largest current long and short themes. Holdings subject to change.

Read the full article here

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