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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
|---|---|---|---|---|---|---|---|
Buyside Digest is not affiliated with, and does not endorse, RiverPark Large Growth Fund. This analysis is provided for institutional research purposes only and is not investment advice.
"Lagging behind major indexes due to a narrow market tape, but remains highly committed to secular AI and software leaders."
During the third quarter of 2025, the RiverPark Large Growth Fund (Institutional Class) returned 4.73%, underperforming the S&P 500 Total Return Index (8.12%) and the Russell 1000 Growth Total Return Index (10.51%). Market leadership remained narrow, dominated by a handful of mega-cap technology and consumer businesses benefiting from AI enthusiasm. Macroeconomic indicators remained strong with GDP rising 3.8% annualized and the Fed executing its first rate cut of 2025. Top performance contributors included Alphabet, Apple, and NVIDIA, while detractors included Intuitive Surgical, Netflix, and Intuit. The fund maintains high concentration in its top holdings (49.8% in top ten) and key secular themes such as AI/Cloud Computing (17.2%) and Internet Media (13.3%).
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Algorithmic conviction, macroeconomic posture, and risk appetite signals extracted from this quarterly letter with qualitative explanations.
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Growth Outlook
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