RiverPark Large Growth Fund’s Q4 2025 Investor Letter

RiverPark Advisors, an investment advisory firm and sponsor of the RiverPark family of mutual funds, released its “RiverPark Large Growth Fund” Q4 2025 investor letter. The US stock market delivered modest gains in the quarter with the S&P 500 index (“S&P”) and the Russell 1000 Growth index (“RLG”) returning 2.6% and 1.1%, respectively. The Fund appreciated by 1.4% during the same period. For the full year, the Fund was up 13.3% vs. 17.4% and 18.6% gains, respectively, for the indexes. The performance in the Russell 1000 Growth Index was uneven.  Market leadership remains concentrated, but underlying divergence has deepened. Investors preferred companies with durable earnings and progress in monetizing growth, especially in health care and parts of the AI value chain. The Fund is optimistic that its portfolio consists of attractively valued companies benefiting from strong growth trends and expected to generate significant cash flow. Please review the Fund’s top five holdings to gain insights into their key selections for 2025.

A copy of RiverPark Large Growth Fund’s Q4 2025 investor letter can be downloaded here.