Strong Results Lifted Wynn Resorts, Limited (WYNN) in Q3

Baron Funds, an investment management company, released its “Baron Real Estate Fund” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. The fund delivered strong results in the quarter. The fund appreciated 10.25% (Institutional Shares) compared to the MSCI US REIT Index’s (the REIT Index) 4.49% and the MSCI USA IMI Extended Real Estate Index’s 5.65%. In addition, please check the fund’s top five holdings to know its best picks in 2025.

In its third-quarter 2025 investor letter, Baron Real Estate Fund highlighted stocks such as Wynn Resorts, Limited (NASDAQ:WYNN). Wynn Resorts, Limited (NASDAQ:WYNN) owns and operates resorts that operates through Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor segments. The one-month return of Wynn Resorts, Limited (NASDAQ:WYNN) was 6.77%, and its shares gained 46.93% of their value over the last 52 weeks. On November 11, 2025, Wynn Resorts, Limited (NASDAQ:WYNN) stock closed at $126.07 per share, with a market capitalization of $13.108 billion.

Baron Real Estate Fund stated the following regarding Wynn Resorts, Limited (NASDAQ:WYNN) in its third quarter 2025 investor letter:

“Since the beginning of 2025, we have noted that the shares of Wynn Resorts, Limited (NASDAQ:WYNN), the pre-eminent luxury global owner and operator of integrated resorts (hotels and casino resorts), were, in our opinion, too cheap. In the most recent quarter, Wynn’s shares increased 37.3% following strong second quarter results and better-than-expected performance in both Macau and Las Vegas.

Wynn has developed “best-in-class” real estate assets in Las Vegas (Wynn and Encore), Boston (Encore Boston Harbor), and Macau (Wynn Macau and Wynn Palace). The company continues to invest in its hotel and casino assets to maintain its lead in each market.

Despite its strong year-to-date share price performance, we continue to believe that at its recent price of $116 per share, Wynn’s shares are attractively valued at only 9.3 times 2026 estimated cash flow or on a sum-of-the-parts valuation basis…” (Click here to read the full text)

Wynn Resorts (WYNN) Surges 8.8% on Macau Gaming Revenue Jump

Wynn Resorts, Limited (NASDAQ:WYNN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 52 hedge fund portfolios held Wynn Resorts, Limited (NASDAQ:WYNN) at the end of the second quarter, up from 48 in the previous quarter. While we acknowledge the risk and potential of Wynn Resorts, Limited (NASDAQ:WYNN) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than Wynn Resorts, Limited (NASDAQ:WYNN) and that has 10,000% upside potential, check out our report about this cheapest AI stock.

In another article, we covered Wynn Resorts, Limited (NASDAQ:WYNN) and shared the list of stocks Jim Cramer discussed. In addition, please check out our hedge fund investor letters Q3 2025 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.