Baron Funds Reduced its Clarivate (CLVT) Stake, Here’s Why

Baron Funds, an asset management firm, published its “Baron Asset Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. Baron Asset Fund (the “Fund”) fell 14.52% (Institutional Shares), while the Russell Midcap Growth Index (the “Index”) fell 12.58%. The S&P 500 Index, which comprises both growths and value-oriented large-cap stocks, fell 4.60%. Try to spend some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Baron Asset Fund mentioned Clarivate Plc (NYSE:CLVT) and explained its insights for the company. Founded in 2016, Clarivate Plc (NYSE:CLVT) is a London, United Kingdom-based publicly-traded analytics company with a $9.6 billion market capitalization. Clarivate Plc (NYSE:CLVT) delivered a -39.29% return since the beginning of the year, while its 12-month returns are down by -49.91%. The stock closed at $14.28 per share on May 16, 2022.

Here is what Baron Asset Fund has to say about Clarivate Plc (NYSE:CLVT) in its Q1 2022 investor letter:

“We reduced our stake in Clarivate Plc (NYSE:CLVT), an information services company focused on the scientific and academic markets, after the company reported particularly disappointing fourth quarter earnings results.”

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Our calculations show that Clarivate Plc (NYSE:CLVT) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Clarivate Plc (NYSE:CLVT) was in 42 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 32 funds in the previous quarter. Clarivate Plc (NYSE:CLVT) delivered a -13.24% return in the past 3 months.

In January 2022, we also shared another hedge fund’s views on Clarivate Plc (NYSE:CLVT) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.