RiverPark Large Growth Fund Q2’18 Investor Letter

RiverPark recently published investor letters to discuss the performance of its funds – River Park Focused Value, River Park Growth Fund, River Park High Yield Fund, and River Park Opportunity Fund – during the second quarter of 2018.

The total return for the RiverPark Large Growth Fund (RPX) for the quarter was 5.4%. During the same period, the S&P 500 index returned 3.4%, the Russell 1000 Growth index returned 5.8%, and while the Russell 1000 Value index returned 1.2%.

“For our portfolio, stock performance and earnings reports were strong with particularly notable contributions coming from our high growth technology and medical technology holdings, such as Amazon, Facebook and Align Technology (increasing 17%, 22%, and 36%, respectively) as well as our growth retailers (CarMax and Ulta Beauty) and one of our energy holdings (EOG), which responded to both higher commodity prices and strong fundamentals. Despite the increased late quarter volatility, only four of our long holdings were down more than five percent during the quarter and they were across a range of industries including internet (eBay), retail (Dollar Tree), leisure (Adidas) and defense (Northrop),” according to the letter.

You can download a copy of the Large Growth Fund Q2 investor letter here.