only curious if this is in each fund or an aggregate amount in the funds of the firm?
"Schaja has invested more than USD 1 million in five of the six funds RiverPark offers"
If the answer is not known off hand, no need to look it up for me.
FYI only, Conrad evidently owns $100-500K of RLSFX.

RiverPark is known here for some of its subadvised funds (RPHIX, RSIIX) and those are in the news here. But the firm itself has had issues with turnovers & AUM losses.
M* on RLSFX
"Co-founder and co-chief investment officer Mitch Rubin departed the firm in November 2022 on the heels of weak performance across the firm’s equity strategies. Meanwhile, RiverPark’s assets under management has declined 35% since December 2020 as outflows across most of its products have been persistent in recent years. As of March 2023, the firm’s AUM was USD 2.4 billion, 70% of which was in its two subadvised funds, including its largest fund, RiverPark Short Term High Yield. According to CEO and co-founder Morty Schaja, the firm intends to draw upon the research resources of equity subadvisor Wedgewood, where the firm owns a roughly 2% minority interest. It will take some time to assess how this collaboration will work and what impact it may have.
Other attributes of the firm are mixed. Across the board, the firm’s mutual fund fees remain high, though that is in part a function of their comparatively small size. But Schaja has invested more than USD 1 million in five of the six funds RiverPark offers, and he has broadened ownership of the firm to include other employees, which often helps retain personnel. Indeed, the firm has shown stability in the investment analyst ranks."
https://www.morningstar.com/funds/xnas/rlsfx/parent

Was this an under-the-radar thing; when did it happen (I mean, it happened about a year ago, but I don't recall any press about it).
What a ride RLSFX has offered for the money, eh ?
FWIW, M* seems to have downgraded RiverPark as a parent. Anyone know the broader story there?

Not the kind ARKK and RLSFX do.

My fave fund, RLSFX is only down 40% YTD; so I guess I can count my lucky stars I don't own one of Wood's funds.

BIVRX pretty good too, but I could see it having the same problem as RLSFX in a different environment. When you get BOTH your L and S wrong, you're screwed!

RLSFX is not really a "market neutral" fund; be careful when dipping toes in such waters.
That is all.
R

hey all -- points taken; maybe this fund should be classified as "Beta-plus". never again.

Shakespeare said, “What’s in a name?”
Names don’t tell you much.

============================
RLSFX - RiverPark Long/Short Opportunity Fund Retail Class
Trying to NOT put salt in your wounds, BUT...
I think we should all be able to agree that no, it "is not really a market neutral fund."
You would think that the fund name alone would confirm that.
But if the name alone doesn't do it, M* has classified it as a Long/Short fund since its inception in March 2012.
Then there are its holdings that include 67% LCG and 21% MCG. No hint of "market neutral" there.
So is the "One 2022 Mutual Fund Lesson" maybe that we as investors should understand (or at least have some clue) what it is we are invested in?
If so, why would that be a "2022 Lesson"? Isn't that a lesson investors should have learned somewhere around the time of their very first investment? For me, that was 1980.
And no need to create a new "Beta-plus" category. Doesn't "long/short" in the name of the fund already imply that?

RLSFX is not really a "market neutral" fund; be careful when dipping toes in such waters.
That is all.
R

RLSFX fund manager has noted "most people don't use shorting and hedging ENOUGH..."

Here is the top holdings, long and short, for RLSFX as of 12/31/21:
https://www.riverparkfunds.com/longshort-opportunity-fund

Nasdaq site confirms it. L-S fund can be wrong on both "L" and "S".
https://www.nasdaq.com/market-activity/funds-and-etfs/rlsfx

Getting complicated. The U.S. 10 year rate did a U-Turn this morning and bounced much higher after the European Central Bank alluded to worsening inflation and indicated rates might rise. . At last glance, the U.S. 10 year was at 1.83%, up from 1.77% last night.
(Thanks @Yogibearbull for the correction.)
Story re ECB
10-Yr Treasury Yield
Here’s a recent thread on RLSFX. I noticed at the time that it had roughly 3.5% in Meta Platforms.

I wouldn't say shorting in this case makes the fund more risky than long funds, but it reduces some risks while increasing others. The thing to understand is that this fund buys value stocks on the long side and often bets against higher priced growth stocks on the short. When value is in favor, it should do well while when growth is in favor RLSFX makes more sense as it does the opposite--favors growth stocks over value. BIVIX, I would say, reduces market based risks while increasing individual stock selection risk. The most important thing to do with these kinds of funds I think is read up about them and understand their strategies and what the manager is doing and why as well as possible: https://invenomic.com/
This fund has a fact sheet, commentaries, annual reports, strategy descriptions. I would ignore the performance numbers as those are in the past and read the documents on its web site instead. If you think value beats growth going forward, it will probably work.

I'll note here that several smart and wise folks on this forum have stated -- some funds work great until they don't. RLSFX is a good example that has stumbled badly out of the gates in 2022. I invested in BLNDX despite my "rule" (ha) of not investing in funds less than 3 years old. Not a disaster yet but I'm watching it.
It started faltering after I bought (ha)

Bought a small chunk of RLSFX mid-last year. Feeling the "ouch" now.

RLSFX is a concentrated L-S fund. When things can go wrong on both sides, then it is like burning candle at both ends.

What a disaster 2022 has been for this MS 5 star Long-short fund that I own. Down nearly 20% ytd. Another great till it wasn't fund. Probably going to hold and hope for a bounce, but looking at BIVRX as a replacement in the same category. That one is up nearly 20% this year and has done well since inception. They guessed right this year (short U.S./ Long Int'l), it seems, while RLSFX seems to have stuck with its strategy (seemingly long growth short value) which has served it well up until now.

@carew, Thanks, I am aware. I had sold FSMEX recently, and was hoping to get back in a bit lower. But like your idea of a $1 placeholder in case it closes.
Been having fun with buying fractional shares now at FIDO as well (i.e. AMZN, SPY). Can nibble all you want just to keep small positions on your trading screen.
Just noticed that RLSFX is only $100 min at ETrade. That goes on the watch list again. WBALX is my current small add each trading day (also $100 min initial at ETr).
This market is no fun right now. Need a big dip, not just a few negative days. What's it gonna take?

RLSFX +.70%, HMEAX +.15%, CLMAX +.09%

Adding to MWFSX, HMEAX and TMSRX. Boring, but hopefully consistent.
Adding to CLIX as I shave down my RLSFX.