AppLovin (APP) Rallied Following the Robust Operating Results

Core Insights - Renaissance Investment Management's Q3 2025 "Large Cap Growth Strategy" letter indicates that stock prices rallied, with the S&P 500 reaching all-time highs in September, while the strategy underperformed its benchmarks [1] - AppLovin Corporation (NASDAQ:APP) was highlighted as a significant contributor to portfolio performance, driven by strong mobile gaming trends and growth in its e-commerce platform [3] Performance Summary - The S&P 500 returned 8.1% and the Russell 1000 Growth returned 10.5% in Q3 2025, but Renaissance's strategy did not match these returns [1] - AppLovin Corporation's stock experienced a one-month return of -9.72% but gained 286.98% over the last 52 weeks, closing at $643.10 with a market capitalization of $217.529 billion on October 27, 2025 [2] Company Highlights - AppLovin Corporation was noted for its solid operating results and momentum in e-commerce, with strong advertiser demand contributing to its performance [3] - In Q2 2025, AppLovin's revenue increased by 77% year-over-year to approximately $1.260 billion, with 109 hedge fund portfolios holding its stock at the end of the second quarter [4]