Baron Funds, an investment management company, released its “Baron Opportunity Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund declined 4.54% (Institutional Shares) compared to a 2.31% return for the Russell 3000 Growth Index and a 7.56% return for the S&P 500 Index. For the one-year period, the fund fell sharply trailing both indexes. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Baron Opportunity Fund highlighted stocks like indie Semiconductor, Inc. (NASDAQ:INDI) in the Q4 2022 investor letter. Headquartered in Aliso Viejo, California, indie Semiconductor, Inc. (NASDAQ:INDI) is an automotive semiconductors and software solutions provider. On February 28, 2023, indie Semiconductor, Inc. (NASDAQ:INDI) stock closed at $10.46 per share. One-month return of indie Semiconductor, Inc. (NASDAQ:INDI) was 31.41%, and its shares gained 36.55% of their value over the last 52 weeks. indie Semiconductor, Inc. (NASDAQ:INDI) has a market capitalization of $1.319 billion.
Baron Opportunity Fund made the following comment about indie Semiconductor, Inc. (NASDAQ:INDI) in its Q4 2022 investor letter:
“indie Semiconductor, Inc. (NASDAQ:INDI) is a fabless designer, developer, and marketer of automotive semiconductors for advanced driver assistance systems and connected car, user experience, and electrification applications. We added to our position in the quarter, taking advantage of a sell-off in the stock when the company announced a capital raise to fund future acquisitions. We continue to believe that the automotive semiconductor vertical is attractive as silicon content in cars increases over time and that indie remains on track to deliver profitability by the end of this year while sustaining its rapid pace of growth. Given their track record, we also trust indie’s management to deploy its recently raised capital into an accretive acquisition that enhances the company’s long-term growth prospects.”
Photo by Yogesh Phuyal on Unsplash
indie Semiconductor, Inc. (NASDAQ:INDI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held indie Semiconductor, Inc. (NASDAQ:INDI) at the end of the fourth quarter which was 18 in the previous quarter.
We discussed indie Semiconductor, Inc. (NASDAQ:INDI) in another article and shared holdings of billionaire investor George Soros. In addition, please check out our hedge fund investor letters Q4 2022 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.
