Baron Funds, an investment management company, released its “Baron Asset Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. The market rally that was driven by technology this year came to a halt in the third quarter. Against this backdrop, the Baron Asset Fund declined 4.42% (Institutional Shares) in the third quarter outperforming the Russell Midcap Growth Index’s -5.22% return. Positive stock selection and tailwinds from its style biases drove the outperformance in the quarter. The Fund’s underexposure to higher beta stocks, which performed poorly during the market reversal was another notable factor. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Baron Asset Fund highlighted stocks like Verisk Analytics, Inc. (NASDAQ:VRSK) in the third quarter 2023 investor letter. Based in Jersey City, New Jersey, Verisk Analytics, Inc. (NASDAQ:VRSK) offers data analytics solutions to the insurance markets. On November 10, 2023, Verisk Analytics, Inc. (NASDAQ:VRSK) stock closed at $237.93 per share. One-month return of Verisk Analytics, Inc. (NASDAQ:VRSK) was -3.91%, and its shares gained 33.47% of their value over the last 52 weeks. Verisk Analytics, Inc. (NASDAQ:VRSK) has a market capitalization of $34.497 billion.
Baron Asset Fund made the following comment about Verisk Analytics, Inc. (NASDAQ:VRSK) in its Q3 2023 investor letter:
“Favorable stock selection in Communication Services and Industrials was driven by gains from, respectively, StubHub Holdings, Inc., a private company that operates a marketplace for secondary ticket sales, and Verisk Analytics, Inc. (NASDAQ:VRSK), a data and analytics vendor for the insurance industry. Verisk’s shares appreciated after the company raised guidance for fiscal year 2023 and reported strong quarterly earnings, with solid results across its business segments.”
An engineer using the latest predictive analytics software to formulate solutions.
Verisk Analytics, Inc. (NASDAQ:VRSK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 46 hedge fund portfolios held Verisk Analytics, Inc. (NASDAQ:VRSK) at the end of second quarter which was 37 in the previous quarter.
We discussed Verisk Analytics, Inc. (NASDAQ:VRSK) in another article and shared the list of low-risk high reward stocks set to triple by 2027. In addition, please check out our hedge fund investor letters Q3 2023 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.
