In This Article:
RiverPark Advisors, an investment advisory firm, and sponsor of the RiverPark family of mutual funds released its “RiverPark Large Growth Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. The fund outperformed in the first quarter by returning 16.59%. The market also performed well with the S&P 500 index returning 7.50% and the Russell 1000 Growth index returning 14.37% in the same period. In addition, please check the fund’s top five holdings to know its best picks in 2023.
RiverPark Large Growth Fund highlighted stocks like UnitedHealth Group Incorporated (NYSE:UNH) in the first quarter 2023 investor letter. Headquartered in Minnetonka, Minnesota, UnitedHealth Group Incorporated (NYSE:UNH) is a diversified healthcare company that operates through UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx segments. On May 9, 2023, UnitedHealth Group Incorporated (NYSE:UNH) stock closed at $490.38 per share. One-month return of UnitedHealth Group Incorporated (NYSE:UNH) was -5.87%, and its shares gained 0.49% of their value over the last 52 weeks. UnitedHealth Group Incorporated (NYSE:UNH) has a market capitalization of $456.559 billion.
RiverPark Large Growth Fund made the following comment about UnitedHealth Group Incorporated (NYSE:UNH) in its Q1 2023 investor letter:
"UnitedHealth Group Incorporated (NYSE:UNH): We re-initiated a position in UnitedHealthcare, a position we last held in January of 2022. The company’s stock price had fallen roughly 17% from its peak in October 2021 on fears about Medicare reimbursement rates, and we used this dislocation to start purchasing shares of what we believe to be the most dominant and complete managed care company in the industry.