ASGN

ASGN

ASGN

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Aug 5, 2025	Baron Small Cap Fund	10.3%	0.3%	ASGN, BWIN, CAKE, CWA, DKNG, DXCM, ENS, FROG, GDYN, GWRE, HH, HLLY, ICLR, IDXX, INSM, IT, KNSL, KTOS, LLYVA, NCNO, NEOG, ODD, PLNT, RRR, SEMI, SIZE, TDG, UTZ, VRT	AI, defense, growth, small caps, technology, value	AI remains the dominant and most compelling market theme. Vertiv Holdings, the fund's largest position, is a direct play on AI infrastructure buildout for data centers. The market became increasingly confident in the durability and longevity of AI growth during the quarter.		View
2025 Q2	Jul 22, 2025	Aristotle Small/Mid Cap Equity	4.6%	-	ACIW, AENE, ALIT, ASGN, BHLB, CHE, CIEN, CMCO, DLB, DY, FTAI, HOOD, IPAR, ITRI, JBGS, MMSI, MTSI, PRGO, SMG, VRRM	growth, industrials, positioning, SMID Cap, technology, value, volatility	MACOM Technology Solutions benefited from exposure to growing demand from Data Center and 5G end market applications. The company surpassed analyst expectations and raised forward guidance, with meaningful exposure to these growing markets along with domestic manufacturing footprint expected to drive additional shareholder value.	VRRM SMG PRGO IPAR FTAI DLB ALIT CHE ACIW MTSI DY CHE	View
2024 Q1	Apr 15, 2024	Aristotle Small Cap Equity Fund	7.3%	9.4%	ACHC, AER, ASC, ASGN, ATNI, AZEK, CPLP, DY, HURN, ITRI, MATW, MCRB, MMSI, MODV, MTSI, PWSC, QDEL, SP	Construction, healthcare, industrials, small caps, technology, value	Manager remains optimistic about long-term potential for small cap segment despite strong recent performance. Valuations of small versus large cap equities remain near multi-decade lows with 16.0x P/E for Russell 2000 versus 21.8x for Russell 1000. Small caps are better positioned to benefit from reshoring of U.S. manufacturing, CHIPS Act, and infrastructure projects.	PWSC QDEL MODV ITRI AZEK	View
2024 Q1	Apr 15, 2024	Baron Small Cap Fund	9.6%	14.5%	ASGN, BFAM, BRP, CHI, DKNG, ENDV, GWRE, HQY, IBP, ICLR, IT, KNSL, RPAY, RRR, SITE, TDG, TREX, TTD, VRT, WEX	Concentration, growth, industrials, Long Term, Outperformance, small cap, technology	Vertiv Holdings Co, the leading provider of cooling solutions to data centers, continued strong performance with 70% of revenue from data center end market. The company benefits from rising demand for data center capacity and increasing adoption of generative AI, as GenAI-related servers have higher energy density requiring more sophisticated cooling solutions.	EXPO INTC	View
2025 Q1	Mar 31, 2025	Aristotle Small Cap Equity Fund	-7.6%	-7.6%	ADC, AER, AGI, ASGN, B, CDMO, CHE, CHH, CMCO, DBI, FFIC, HURN, MMSI, MODV, MTSI, ONB, SUM, VECO, VVV, WWE	gold, healthcare, industrials, REITs, semiconductors, small cap, technology, value	Fund focuses on small-cap segment with compelling valuations relative to large caps, trading near multi-decade lows on a relative basis. Potential tailwinds include deregulation, lower corporate tax rates, increased M&A activity, and continued reshoring of U.S. manufacturing.		View
2025 Q1	Mar 31, 2025	Baron Small Cap Fund	-9.1%	-9.1%	ASGN, BFAM, CAKE, FA, GDYN, GTLS, GWRE, IBTA, INDI, IT, KNSL, KTOS, NEOG, RDNT, RPAY, RRR, TDG, TTD, VRT, WCN	AI, growth, insurance, small caps, tariffs, technology, Trade Policy	The introduction of Chinese AI app DeepSeek disrupted expectations for AI infrastructure rollout, causing significant declines in AI-benefiting tech stocks. This raised investor concerns about reduced need for data center capital expenditures and slower growth for companies like Vertiv. Despite the disruption, the manager believes the complex roadmap for new chip introductions will still drive demand for advanced cooling solutions.	PAR RADNQ	View
2025 Q1	Mar 31, 2025	Aristotle Small/Mid Cap Equity	-6.2%	-6.2%	ACIW, ADC, AER, AGI, ASGN, BDC, CHE, CIEN, CII, DBI, DY, HURN, ITRI, MMSI, MTSI, NDAQ, ONB, RRC, VVV, WWW	Consulting, gold, healthcare, Regional Banks, semiconductors, small caps, technology, value	The fund maintains exposure to semiconductor companies like MACOM Technology Solutions despite sector weakness during the quarter. The manager believes in meaningful exposure to growing demand from data center and 5G end-market applications, with recent acquisitions expected to drive additional shareholder value.		View
2024 Q4	Dec 31, 2024	Baron Small Cap Fund	-1.1%	13.3%	ALTR, ASGN, AZPN, BFAM, BLD, CAKE, DRVN, FOXF, FROG, GDYN, GTLS, GWRE, HLI, HQY, IBP, ICLR, INTA, IT, JBT, KNSL, NEOG, NPO, PLNT, RRR, TDG, VRT	AI, Data centers, growth, industrials, long-term, small caps, technology	AI-related data center buildout is driving extraordinary demand for Vertiv's power and cooling solutions. The company raised organic sales guidance to 12-14% CAGR for the next five years, benefiting from enormous capital investment in data centers to enable AI applications. JFrog is also positioned to benefit as generative AI adoption accelerates, driving the need to manage new binary types and increasing overall application complexity.		View
2022 Q4	Dec 31, 2022	Baron Small Cap Fund	9.6%	14.5%	ASGN, DXCM, EWCZ, GDYN, GTLS, INSP, IT, NEOG, PLNT, TTD, VRT	-			View
2024 Q3	Sep 30, 2024	Baron Small Cap Fund	9.6%	14.5%	ASGN, AZPN, BFAM, BWIN, CHRT, CWT, DXCM, FA, FND, GWRE, IBP, ICLR, INSP, INTA, IT, JANUS, KNSL, RRR, SIMO, SITE, TDG, VRT	AI, Data centers, financials, growth, industrials, Rate Cuts, small cap, technology	Vertiv Holdings leads data center equipment with significant share in power and cooling applications. The stock rebounded as investors gained confidence in massive AI data center buildout globally. Strong relationship with chip manufacturers and involvement in technology roadmap for increasing energy density solutions were catalysts.		View
2023 Q3	Sep 30, 2023	Baron Small Cap Fund	9.6%	14.5%	ASGN, AZPN, CGNX, CLVT, DXCM, FND, FOXF, GTLS, GWRE, ICON, INDI, INSP, IT, KNSL, LBRDA, PLNT, RRR, SITE, VRT, WASH	Automation, consumer discretionary, Data centers, healthcare, industrials, small cap, Specialty Insurance, technology	Vertiv Holdings, the fund's largest position, benefits from AI-driven growth in data center infrastructure. The company provides critical thermal management solutions for increasingly energy-dense data centers required for artificial intelligence applications.		View
2024 Q2	Jul 27, 2024	Baron Small Cap Fund	9.6%	14.5%	ASGN, BWIN, CHRT, DAY, DKNG, ENDV, EWCZ, EXPO, FND, GDOT, GWRE, IBP, INSP, KNSL, LOAR, PLNT, SITE, SPT, TREX, VRT	Cloud, consumer discretionary, Data centers, healthcare, industrials, Rotation, small cap, technology	Vertiv Holdings Co, a leading provider of critical digital infrastructure for data centers, is positioned to benefit from AI-driven growth in data center spend. The company reported very strong results with orders up 60%, highlighting strong demand for its products in data center cooling and power management.		View
2022 Q2	Jun 30, 2022	Baron Discovery Fund	13.5%	9.3%	ALKT, ASGN, CDAY, CWAN, DAVA, DH, ESTA, GTLB, GWRE, MEG, PGNY, REXR, SAIL	-			View
2022 Q2	Jun 30, 2022	Baron Small Cap Fund	9.6%	14.5%	ASGN, CGNX, COLD, DRVN, GDYN, GTLS, IT, SHLS, SPT	-			View
2023 Q4	Jan 27, 2024	Baron Small Cap Fund	9.6%	14.5%	ALTR, ASGN, CLVT, DPHC, DXCM, ENDV, ETWO, EWC, FND, FOXF, GTLS, GWRE, IBP, ICLR, IDXX, IT, KNSL, KTOS, NCNO, NEOG, ODD, PLNT, RRR, SBA, SHLS, SITE, SKIN, TDG, TREX, TTD, VRT	AI, consumer discretionary, Data centers, growth, industrials, rates, small caps, technology	Vertiv Holdings benefits from robust demand for data center cooling solutions, particularly as AI-related servers require more sophisticated cooling. The company held its first Analyst Day introducing long-term growth targets and margin expansion plans.		View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
No pitches found.

BSD Shareholders of ASGN

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

Manager Name	Fund Name	Fund AUM	Invested Value	Portfolio Weight	Shares Owned	Shares Bought / Sold During Quarter	% Bought / Sold During Quarter	% of Shares Outstanding Owned
No investor data available.

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