Baron Funds, an investment management company, released its “Baron Opportunity Fund” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. The fund posted positive results in the third quarter, returning 5.44% (Institutional Shares), but lagged behind the Russell 3000 Growth Index’s (the Benchmark) 10.41% gain and the S&P 500 Index’s 8.12% return. The magnificent seven were the significant contributors to the performance of the benchmark in the second consecutive quarter. The relative underperformance was due to specific stocks, caused by a mix of...
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