RiverPark Advisors, an investment advisory firm and sponsor of the RiverPark family of mutual funds released “The RiverPark/Next Century Growth Fund” Q4 2023 investor letter in partnership with Next Century Growth Investors, LLC. A copy of the same can be downloaded here. The fund returned 4.75% in the fourth quarter compared to a 12.75% return for the Russell 2000 Growth Total Return Index. The recent market rally highlights the significance of macroeconomic indicators and the Fed’s stance on interest rates. In addition, please check the fund’s top five holdings to know its best picks in 2023.
The RiverPark/Next Century Growth Fund featured stocks like Medpace Holdings, Inc. (NASDAQ:MEDP) in the fourth quarter 2023 investor letter. Based in Cincinnati, Ohio, Medpace Holdings, Inc. (NASDAQ:MEDP) is a clinical research-based drug and medical device development services provider. On April 4, 2024, Medpace Holdings, Inc. (NASDAQ:MEDP) stock closed at $389.20 per share. One-month return of Medpace Holdings, Inc. (NASDAQ:MEDP) was -4.06%, and its shares gained 103.84% of their value over the last 52 weeks. Medpace Holdings, Inc. (NASDAQ:MEDP) has a market capitalization of $11.972 billion.
The RiverPark/Next Century Growth Fund stated the following regarding Medpace Holdings, Inc. (NASDAQ:MEDP) in its fourth quarter 2023 investor letter:
“Medpace Holdings, Inc. (NASDAQ:MEDP) is a full service CRO (contract research organization) focused primarily on small and mid-sized biopharma companies (75-80% small biopharma, 15-20% mid-sized biopharma, 0-5% large pharma). The small biopharma CRO market typically grows faster than the mid/large pharma market, and MEDP has carved out a solid competitive position in this area. We believe MEDP is positioned to sustain strong growth, driven by a combination of market growth (biotech spending) and market share gains, while maintaining a healthy margin profile.”
A medical professional in a lab coat discussing with a colleague.
Medpace Holdings, Inc. (NASDAQ:MEDP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Medpace Holdings, Inc. (NASDAQ:MEDP) was held by 38 hedge fund portfolios, compared to 36 in the previous quarter, according to our database.
We discussed Medpace Holdings, Inc. (NASDAQ:MEDP) in another article and shared ClearBridge SMID Cap Growth Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- Top 26 Tax Friendly States for Retirees in 2024
- Following the Money Trail: Where are Hedge Funds Investing?
- 15 Fastest Growing African Economies in 2024
Disclosure: None. This article is originally published at Insider Monkey.
