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Baron Opportunity Fund Reentered Snowflake (SNOW) on a Dip

Baron Funds, an investment management company, released its “Baron Opportunity Fund” first quarter 2025 investor letter. A copy of the letter can be downloaded here. In the first quarter, the fund fell 11.97% (Institutional Shares), underperforming the Russell 3000 Growth Index, which fell 10.00%, and the S&P 500 Index, which declined 4.27%. The market is a confidence game. January saw a strong performance for the Fund, driven by investor optimism in technological innovation, particularly AI. Expectations of the Trump administration’s policies also fueled hopes for economic growth....