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RiverPark Advisors, an investment advisory firm and sponsor of the RiverPark family of mutual funds, released its “RiverPark Large Growth Fund” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. During the fourth quarter, the markets continued its strong rally with the Russell 1000 Growth Index (RLG) and the S&P 500 index returning 7.1% and 2.4% respectively and RPX returning 5.11%. In 2024, the S&P 500 index and the RLG returned 25.0% and 33.4%, respectively. RPX returned 22.6%. The solid performance of the U.S. stock market in the fourth quarter of 2024 was supported by a rising investor sentiment and solid fundamentals. In addition, please check the fund’s top five holdings to know its best picks in 2024.
In its fourth quarter 2024 investor letter, RiverPark Large Growth Fund emphasized stocks such as NVIDIA Corporation (NASDAQ:NVDA). NVIDIA Corporation (NASDAQ:NVDA) offers graphics and compute and networking solutions. The one-month return of NVIDIA Corporation (NASDAQ:NVDA) was -15.63%, and its shares gained 31.38% of their value over the last 52 weeks. On March 7, 2025, NVIDIA Corporation (NASDAQ:NVDA) stock closed at $112.69 per share with a market capitalization of $2.75 trillion.
RiverPark Large Growth Fund stated the following regarding NVIDIA Corporation (NASDAQ:NVDA) in its Q4 2024 investor letter:
"NVIDIA Corporation (NASDAQ:NVDA): NVDA was a top contributor in the fourth quarter following blowout 1Q results and guidance driven by strong data center sales (+427% year-over-year). The company reported revenue of $26 billion, up 262% year-over-year, and EPS of $6.12, up 462% year-over-year and 9% ahead of expectations. Revenue guidance for 2Q of $28 billion was 5% above very high expectations. The artificial intelligence arms race, kicked off by ChatGPT and Alphabet’s Bard, among others, has generated tremendous demand for Nvidia’s next generation graphic processors.