Baron Durable Advantage Fund’s Q2 2025 Investor Letter

Baron Funds released its “Baron Durable Advantage Fund” second-quarter 2025 investor letter. The fund primarily focuses on investing in securities of large-sized companies. The fund increased 15.6% (Institutional Shares) in the second quarter compared to a 10.9% return for the S&P 500 Index (the Index). The Fund is up 7.5%, year to date, compared to the 6.2% gain for the Index. After two consecutive years of strong market recovery, there was a correction at the end of the first quarter and the early part of the second quarter. But later in the second quarter, the market rebounded meaningfully. For more information on the fund’s best picks in 2025, please check its top five holdings.

A copy of Baron Durable Advantage Fund’s Q2 2025 investor letter can be downloaded here.