Increased Momentum in the Core Businesses Lifted Alphabet (GOOG) in Q3

Core Insights - The RiverPark Large Growth Fund reported strong performance in Q3 2025, with the S&P 500 Total Return Index rising 8.12% and the Russell 1000 Growth Index returning 10.51% [1] - The fund itself returned 4.73% during the same period, with market leadership concentrated among a few mega-cap tech and consumer companies driven by AI innovation [1] Company Performance - Alphabet Inc. (NASDAQ:GOOG) was highlighted as the top contributor to the fund's performance, benefiting from strong momentum in its Search and YouTube franchises, as well as renewed investor interest in its AI initiatives [3] - Alphabet Inc. achieved nearly $100 billion in revenue for the quarter, with double-digit growth in both advertising and cloud services [3] - The stock saw a one-month return of 13.63% and a 52-week gain of 59.04%, closing at $285.60 per share with a market capitalization of $3.448 trillion on November 17, 2025 [2] Market Trends - The sectors leading performance included Information Technology, Consumer Discretionary, and Communication Services, while Energy and Utilities lagged behind [1] - Alphabet Inc. ranked 7th among the 30 Most Popular Stocks Among Hedge Funds, with 178 hedge fund portfolios holding its stock at the end of Q2 2025, up from 164 in the previous quarter [4] - The easing of regulatory concerns and a favorable rotation into high-quality, cash-generative technology platforms contributed to the stock's performance [3]