RiverPark Q3 Letter Reports 4.73% Gain and Sets Shopify, Netflix Views in AI-Led Market

Overview

• RiverPark Advisors said U.S. stocks rose strongly in Q3 2025, with S&P 500 Total Return up 8.12% and Russell 1000 Growth up 10.51%, while its Large Growth Fund returned 4.73% as leadership concentrated in AI beneficiaries.
• The letter highlighted Shopify as a top contributor, citing roughly 31% revenue growth and a view that the company can sustain annual revenue growth above 20% while expanding margins.
• Insider Monkey reported Shopify closed at $139.93 on November 17 with a market value of $182.167 billion, and its database showed hedge-fund holders fell to 69 portfolios from 77 the prior quarter.
• RiverPark described Netflix’s recent results as mixed with higher content costs and margin pressure but maintained that the company can deliver double‑digit earnings growth over the medium term.
• Insider Monkey noted Netflix closed at $110.29 on November 17 with a $467.334 billion market cap, and hedge-fund ownership declined to 133 portfolios from 150; the letter also cited Alphabet as a top contributor on accelerating Search and YouTube and stronger AI momentum.