Baron Real Estate Fund’s Q2 2025 Investor Letter

Baron Funds, an investment management company, released its “Baron Real Estate Fund” second-quarter 2025 investor letter. The fund rose 3.61% (Institutional Shares) in the quarter compared to a 1.46% decline for the MSCI US REIT Index (the REIT Index) and a 6.13% gain for the MSCI USA IMI Extended Real Estate Index (the MSCI Real Estate Index). In addition, please check the fund’s top five holdings to know its best picks in 2025.

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