Riverbridge Growth Fund - Investor Class
RIVRX
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- Riverbridge Growth Fund - Investor Class (RIVRX) is a diversified open-end mutual fund that seeks long-term capital appreciation through investments in equity securities of high-quality growth companies across all market capitalization sizes, including small-, mid-, and large-cap firms; it typically holds 40-60 stocks, with a current portfolio of 44 holdings as of September 30, 2025, emphasizing firms demonstrating high returns on invested capital, consistent unit growth, and strong free cash flow generation. The fund offers Investor Class shares (ticker: RIVRX) with a minimum initial investment of $1,000, a net expense ratio of 1.21%, and a 1.00% redemption fee for shares redeemed within 90 days of purchase; an Institutional Class (RIVBX) is also available with lower fees and a higher minimum investment. Managed by the Riverbridge Investment Team at Riverbridge Partners, headquartered in Minneapolis, Minnesota, and established on December 31, 2012, the strategy mirrors the firm's flagship All Cap Growth separate account portfolio and primarily targets U.S. equities (approximately 96% allocation), with limited exposure to non-U.S. stocks via American Depositary Receipts (ADRs) and minor cash holdings. Top holdings as of September 30, 2025, include NVIDIA Corporation (10.35%), Microsoft Corporation (8.00%), HEICO Corporation (4.97%), Amazon.com, Inc. (4.42%), and Alphabet, Inc. (4.21%); sector weightings feature significant allocations to technology (leading sector), healthcare, industrials, consumer cyclical, and communication services. The fund maintains a low 5-year annual average turnover of 11.57%, a weighted average market cap of $1,125.44 billion, and an active share of 63.76% versus benchmarks like the Russell 3000 Growth Index. It operates exclusively for U.S. investors through prospectus offerings distributed by IMST Distributors, LLC, with geographic focus on U.S. markets and benchmarked against the Russell 3000 Growth and S&P 500 indices. Recent operational updates include an extension of the investment advisor's contractual fee waiver agreement through March 31, 2026, to cap net expense ratios; portfolio manager Ross Johnson, CFA, has led the Growth Fund since January 1, 2021, as Chief Investment Officer coordinating the team's security selection across sectors. The fund reported annualized returns through September 30, 2025, of 11.65% (1-year), 20.11% (3-year), and 7.67% (5-year) for the Investor Class at NAV before taxes, with total net assets approximating $202 million. No major acquisitions, partnerships, or structural reorganizations have been announced in the past 1-2 years, reflecting continuity in its time-tested investment philosophy since the firm's inception in 1987.