LETTERS

Baron Small Cap Fund 2025 Q4 Letter

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Fund:

Baron Small Cap Fund

Key Person: Cliff Greenberg

Tickers in this letter

CGNX, CWA, FROG, GWRE, HLI, ICLR, IT, JBT, KNSL, KTOS, MTD, NEPT, NOVT, ODD, PLNT, RBC, RRR, SITE, TDG, VRT

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