Baron Fund, an investment management company, released its Q4 2025 letter for “Baron Small Cap Fund”. The market extended its positive trends in the fourth quarter. The Baron Small Cap Fund was down 1.56% in the quarter compared to 1.22% gain for the Russell 2000 Growth Index. The Fund returned (0.66)% in 2025, trailing the index by 13.67 percentage points. The yearly performance was weak both on an absolute and a relative basis. Large-cap growth stocks led the market for the third...
Baron Small Cap Fund’s Q4 2025 Investor Letter
