Baron Growth Fund’s Q1 2023 Investor Letter

Baron Funds, an investment management company, released its “Baron Growth Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund gained 7.88% (Institutional Shares) which exceeded the primary benchmark the Russell 2000 Growth Index’s 6.07% return. It also outperformed the S&P 500 Index’s 7.50% return. The sudden bank failures raised concerns about the health of the US regional banking system. The fund doesn’t own any investments in banks for the past 11 years. The company is focused on investing in businesses with durable competitive advantages. In addition, please check the fund’s top five holdings to know its best picks in 2023.