Baron Funds, an investment management company, released its “Baron Asset Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. The fund increased by 12.21% in the fourth quarter, outperforming the Russell Midcap Growth Index which returned 6.90%. Stock selection and underexposure to stocks with high measures of Residual Volatility and Beta led the fund to outperform in the quarter. For 2022, the fund fell 25.87% compared to a -26.72% return for the Russell Midcap Growth Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Baron Asset Fund highlighted stocks like Gartner, Inc. (NYSE:IT) in its Q4 2022 investor letter. Headquartered in Stamford, Connecticut, Gartner, Inc. (NYSE:IT) is a research and advisory company. On February 10, 2023, Gartner, Inc. (NYSE:IT) stock closed at $347.62 per share. One-month return of Gartner, Inc. (NYSE:IT) was 3.46%, and its shares gained 20.46% of their value over the last 52 weeks. Gartner, Inc. (NYSE:IT) has a market capitalization of $27.47 billion.
Baron Asset Fund made the following comment about Gartner, Inc. (NYSE:IT) in its Q4 2022 investor letter:
“Shares of Gartner, Inc. (NYSE:IT), which sells syndicated research, primarily about technology solutions and vendors, to corporations largely through annual subscription contracts, was the largest positive contributor. The company continued to benefit from the growing pervasiveness of technology in virtually all aspects of its corporate clients’ operations. Gartner’s business conditions remained strong, and the company’s research segment continued to compound its revenues at double-digit levels. We expect sustained revenue growth, driven partly by price increases, and ongoing cost control efforts to drive continued margin expansion and enhanced free-cash-flow generation. The company’s balance sheet remains in excellent shape, and we expect further share repurchases and the possibility of complementary, accretive acquisitions. The Fund reduced its position in long-time holding Gartner, Inc., a research firm focused primarily on IT, in order to manage its position size”
Research, Investment, Finance
Gartner, Inc. (NYSE:IT) is not our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 43 hedge fund portfolios held Gartner, Inc. (NYSE:IT) at the end of the third quarter, which was 38 in the previous quarter.
We discussed Gartner, Inc. (NYSE:IT) in another article and shared Conestoga Capital Advisors’ views on the company. 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.
