Baron Small Cap Fund’s Q1 2023 Investor Letter

Baron Funds, an investment management company, released its “Baron Small Cap Fund” first-quarter 2023 investor letter. A copy of the same can be downloaded here. The fund was 9.44% up in the first quarter outperforming the Russell 2000 Growth Index and the S&P 500 Index which returned 6.07% and 7.50% respectively. During the quarter, the fund benefitted from positive stock selection in almost all sectors on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2023.