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Baron Technology Fund’s Q3 2025 Investor Letter

Baron Funds, an investment management company, released its “Baron Technology Fund” third-quarter 2025 investor letter. US equities rallied in the third quarter following the previous quarter. In the third quarter, the fund returned 5.89% (Institutional Shares) but underperformed the MSCI ACWI Information Technology Index's (the Benchmark) 12.76% return, Invesco QQQ Trust's (the QQQ) 8.94% return, and the S&P 500 index's 8.12% return. In addition, please check the fund’s top five holdings to know its best picks in 2025.

A copy of Baron Technology Fund’s Q3 2025 investor letter can...