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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
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"The RiverPark Large Growth Fund posted a strong 15.01% gain in Q2 2025, buoyed by secular AI and cloud giants like NVIDIA and Microsoft, while maintaining strong conviction in high-quality core holdings despite temporary market volatility."
During Q2 2025, the RiverPark Large Growth Fund (Institutional Class) returned 15.01%, lagging the Russell 1000 Growth Index's 17.84% but outperforming the S&P 500's 10.94%. The quarter was marked by strong gains in growth-oriented sectors led by technology and communication services, with particular strength in AI-related platforms. Performance was driven by top contributors NVIDIA, Microsoft, Netflix, Meta, and Uber. Key detractors included UnitedHealth Group, Apple, and Eli Lilly, all of which the manager continues to hold with high multi-year conviction. The manager views macro and trade policy issues as temporary sources of volatility, reiterating that long-term performance is driven by secular innovation and margin expansion.
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Algorithmic conviction, macroeconomic posture, and risk appetite signals extracted from this quarterly letter with qualitative explanations.
Market Conviction
High-conviction positioning: The RiverPark Large Growth Fund posted a strong 15.01% gain in Q2 2025, buoyed by secular AI and cloud giants like NVIDIA and Microsoft, while maintaining strong conviction in high...
Growth Outlook
Market outlook remains above average conviction: The RiverPark Large Growth Fund posted a strong 15.01% gain in Q2 2025, buoyed by secular AI and cloud giants like NVIDIA and Microsoft, while maintaining strong conviction in high...
Risk Appetite
Risk appetite posture is above average conviction: The RiverPark Large Growth Fund posted a strong 15.01% gain in Q2 2025, buoyed by secular AI and cloud giants like NVIDIA and Microsoft, while maintaining strong conviction in high...
Capital Deployment
Manager actively deployed capital into high-conviction opportunities. The RiverPark Large Growth Fund posted a strong 15.01% gain in Q2 2025, buoyed by secular AI and cloud giants like NVIDIA and Microsoft, while maintaining strong conviction in high...
Forward Guidance
Forward guidance signal: The RiverPark Large Growth Fund posted a strong 15.01% gain in Q2 2025, buoyed by secular AI and cloud giants like NVIDIA and Microsoft, while maintaining strong conviction in high...
Language Signal
Tone analysis indicates above average conviction language: The RiverPark Large Growth Fund posted a strong 15.01% gain in Q2 2025, buoyed by secular AI and cloud giants like NVIDIA and Microsoft, while maintaining strong conviction in high...
Perceived Risk
Perceived risk level is evaluated as moderate conviction. The RiverPark Large Growth Fund posted a strong 15.01% gain in Q2 2025, buoyed by secular AI and cloud giants like NVIDIA and Microsoft, while maintaining strong conviction in high...
Opportunity Density
Opportunity density index indicates high conviction actionable entry points. The RiverPark Large Growth Fund posted a strong 15.01% gain in Q2 2025, buoyed by secular AI and cloud giants like NVIDIA and Microsoft, while maintaining strong conviction in high...
Time Horizon
Investment time horizon reflects a high conviction orientation. The RiverPark Large Growth Fund posted a strong 15.01% gain in Q2 2025, buoyed by secular AI and cloud giants like NVIDIA and Microsoft, while maintaining strong conviction in high...
