Baron Funds, an investment management company, released its “Baron Partners Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The fund was up 8.39% (institutional Shares) in the fourth quarter, trailing the Fund’s primary benchmark, the Russell Midcap Growth Index’s 14.55%, and the S&P 500 Index’s 11.69% returns. The Morningstar Large Growth Category Average (the Peer Group) increased 13.83% during the period. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Baron Partners Fund featured stocks like The Charles Schwab Corporation (NYSE:SCHW) in the fourth quarter 2023 investor letter. Headquartered in Westlake, Texas, The Charles Schwab Corporation (NYSE:SCHW) is a savings and loan holding company. On February 27, 2024, The Charles Schwab Corporation (NYSE:SCHW) stock closed at $65.35 per share. One-month return of The Charles Schwab Corporation (NYSE:SCHW) was 3.86%, and its shares lost 15.58% of their value over the last 52 weeks. The Charles Schwab Corporation (NYSE:SCHW) has a market capitalization of $119.223 billion.
Baron Partners Fund stated the following regarding The Charles Schwab Corporation (NYSE:SCHW) in its fourth quarter 2023 investor letter:
“Few holdings impacted the Fund negatively in the period. The Fund held considerably more winners than losers. Fifteen holdings had double-digit returns in the quarter. Leaders from our diverse investment categories included top 10 positions Gartner, Inc., The Charles Schwab Corporation (NYSE:SCHW), and Space Exploration Technologies Corp. (SpaceX). Schwab’s organic growth has continued. Peaking interest rates should ease clients’ cash movement towards money market funds. This will allow the company to earn more net interest income.”
A corporate finance professional studying a financial performance chart.
The Charles Schwab Corporation (NYSE:SCHW) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, The Charles Schwab Corporation (NYSE:SCHW) was held by 81 hedge fund portfolios, up from 77 in the previous quarter, according to our database.
We discussed The Charles Schwab Corporation (NYSE:SCHW) in another article and shared The London Company Large Cap Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
