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. A copy of the letter can be downloaded here. 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.
In its fourth-quarter 2025 investor letter, RiverPark Large Growth Fund highlighted stocks like Netflix, Inc. (NASDAQ:NFLX). Netflix, Inc. (NASDAQ:NFLX) is a subscription-based streaming entertainment platform. On March 24, 2026, Netflix, Inc. (NASDAQ:NFLX) stock closed at $90.92 per share. One-month return of Netflix, Inc. (NASDAQ:NFLX) was 9.94%, and its shares declined 6.33% over the past twelve months. Netflix, Inc. (NASDAQ:NFLX) has a market capitalization of $390.98 billion.
RiverPark Large Growth Fund stated the following regarding Netflix, Inc. (NASDAQ:NFLX) in its fourth quarter 2025 investor letter:
“Netflix, Inc. (NASDAQ:NFLX): NFLX was the portfolio’s largest detractor in 4Q25 following investor concerns around near-term subscriber growth and rising content spending. While revenue grew approximately 10% year-over-year, management guided to slower net subscriber additions in North America and Europe after recent price increases, and margins were pressured by elevated investment in live sports and international content. Netflix’s proposed acquisition of Warner Bros. Discovery has also introduced several concerns, including the risk of Paramount’s competing bid potentially driving up the purchase price, concerns that regulators may not approve a deal of this magnitude, and integration challenges for a company that has never executed a transaction of this scale.
Despite these headwinds, we continue to view Netflix as the dominant global streaming platform with durable competitive advantages. Its unmatched content library, scalable technology infrastructure, and growing advertising business provide multiple monetization pillars. With over 280 million subscribers globally and strong free cash flow generation, Netflix remains well positioned to deliver durable long-term growth once industry consolidation uncertainty clears.”
