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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q3 | Nov 8, 2025 | Baron Partners Fund | 13.1% | 4.7% | FDS, IDXX, IT, RRR, STUB, TSLA | AI, Autonomy, Data, disruption, Robotics | The fund emphasizes AI as a major driver of both market sentiment and company fundamentals, highlighted by Teslas rapid autonomous-driving progress and humanoid robotics roadmap. Several holdings faced investor fears of AI-driven disruption, especially in information services, though the manager views proprietary data moats as protective. AI remains central to both growth opportunities and perceived risks across the portfolio. | ANET |
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| 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 |
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| 2025 Q4 | Jan 28, 2026 | Prosper Stars & Stripes | 1.2% | 9.9% | ATI, EAT, GTLB, INOD, KTB, META, MSFT, PDFS, RVTY, SEAT, SITM, STUB, TKNO | AI, alpha, healthcare, Long/Short, semiconductors, small caps, value | AI investment cycle driving economic growth and market gains, with revenue per employee increasing at large AI companies. AI infrastructure spending not out of line with past tech investment expansions. GenAI reshaping software development and creating competitive pressures for traditional seat-based pricing models. Semiconductor industry experiencing high growth from normal demand plus AI buildout. Companies like PDF Solutions benefiting from increased need for yield improvement tools in 3-D semiconductor structures and supply chain data sharing as US builds denser semiconductor supply chains. Small caps getting strong start in 2026 supported by easing monetary conditions and constructive fiscal backdrop. Small caps more sensitive to economic cyclicality which is overdue for expansion. Expected to grow at better pace than large caps in 2026 after long period of underperformance. Healthcare industry positioned for catch-up growth after several years of below-trend performance. Government spending expected to increase relative to feared cuts, with companies signaling improvement in revenue growth. Focus on 'picks & shovels' businesses serving the industry. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Nov 29, 2025 | Fund Letters | Andrew Peck | StubHub Holdings, Inc. | Communication Services | Specialized Consumer Services | Bull | NYSE | IPO, marketplace, Networkeffects, Scalability, Tickets | View Pitch |
| Oct 17, 2025 | Seeking Alpha | Seeking Alpha | StubHub Holdings | Internet Content & Information | Bull | buy rating, Competitive Advantage, consumer demand, growth potential, live events, market share, Revenue Growth, secondary ticket marketplace, strategic initiatives, StubHub Holdings | 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. | ||||||||