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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Aug 2, 2025 | Baron Global Advantage Fund | 22.6% | 11.0% | ARGX BB, DAVA, DDOG, GLOB, ILMN, LOAR, MELI, NET, NU, NVDA, TSM | alpha, fundamentals, Global Growth, long-term, volatility | The letter focuses on exploiting volatility by maintaining conviction in long-term global growth winners despite sharp drawdowns. Management stresses separating signal from noise and prioritizing fundamentals over short-term sentiment. Volatility is viewed as the price paid for long-term alpha generation. | View | |
| 2025 Q3 | Nov 8, 2025 | Baron Asset Fund | -4.3% | 0.1% | APH, CHH, CSKD, IDXX, IT, LOAR, ONON, STUB, VRSK | AI, Earnings Quality, Mega Caps, Research, Valuations | The letter highlights that optimism around AI helped drive broader market gains, especially through mega-cap technology leaders. However, the funds high-quality bias lagged as lower-quality, high-volatility stocks surged, creating a challenging backdrop. AI-related concerns weighed on holdings like Gartner and FactSet, though the manager argues AI should ultimately be a tailwind for research-based businesses. | STUB |
View |
| 2025 Q3 | Oct 21, 2025 | Artisan Partners Small Cap Fund | 8.7% | 4.8% | 4350 JP, ALAB, ASND, CGNX, CWAN, IBP, INSM, LOAR, LSCC, MDGL, MOD, MTSI, SN, WAY, WING | AI, Biotech, Health Care, industrials, small caps | The fund posted strong absolute but weaker relative returns as speculative small-cap stocks led markets. Managers emphasized profit-cycle investing, focusing on companies with durable growth such as Modine, Lattice Semiconductor, and Insmed. Key themes include AI-related infrastructure, biotech innovation, and cyclical recovery in housing and industrials. | OLLI CGNX MTSI TWST INSM MOD LSCC OLLI CGNX MTSI TWST INSM MOD LSCC |
View |
| 2025 Q4 | Jan 26, 2026 | Baron Discovery Fund | 0.2% | 11.0% | ALKT, CWAN, CWST, DKNG, DT, ESTA, EXAS, FROG, GCI, GTLB, INDIE, LLYVA, LOAR, MRCY, PRMB, RGEN, S, SITM, TREX, VRNS, WAY | AI, defense, growth, healthcare, Quality, small caps, software | The fund discusses AI as a transformative force requiring careful alignment of goals with humanity's interests. They view AI advancement as creating massive capital investment opportunities, particularly in datacenter buildout, while acknowledging concerns about AI's impact on software competitive advantages. The fund maintains significant exposure to enterprise software companies, particularly cybersecurity and systems software. They believe complexity of enterprise integration protects established players from AI disruption, with companies like Dynatrace, Varonis, and SentinelOne offering defensive moats through proven resilience and security. The fund focuses on innovative healthcare companies including molecular diagnostics (Exact Sciences), medical devices (Establishment Labs), and healthcare IT (Waystar). They see opportunities in companies improving patient outcomes through technology and automation in healthcare processes. The fund holds defense companies benefiting from increased defense budgets, including allocations for unmanned vehicles and missile defense systems. They trimmed positions after meaningful valuation increases but maintain defense as a core holding area. | CWST GLIBA PRMB LLYVA VRNS INDI FROG CAS WAY CWAN ESTA EXAS |
View |
| 2024 Q3 | Sep 30, 2024 | TimesSquare Capital Management U.S. Small Cap Growth Strategy | 6.2% | 0.0% | BJ, BOOT, CERT, CWAN, FORM, LOAR, MODG, MTDR, MYRG, OS, PCVX, WH, WHD | - | View | ||
| 2024 Q3 | Sep 30, 2024 | Baron Small Cap Fund | 9.6% | 14.5% | BRP, DAVA, DXCM, EWCZ, GCMG, GTLS, GWRE, IBTA, ICON, LOAR, VRT | - | View | ||
| 2024 Q2 | Jul 27, 2024 | Baron Small Cap Fund | 9.6% | 14.5% | BWIN, GWRE, IBP, IBTA, KNSL, LOAR, PLNT, SITE, VRT | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Nov 29, 2025 | Fund Letters | Alex Umansky | Loar Holdings Inc. | Industrials | Aerospace & Defense | Bull | NYSE | Aerospace, aftermarket, compounding, M&A, Pricingpower | View Pitch |
| 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. | ||||||||