Baron Funds, an investment management company, released its “Baron Discovery Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In 2023, the fund (Institutional Shares) returned 22.58% outperforming the 18.66% return for the Russell 2000 Growth Index. In Q4, the fund returned 12.44% compared to a 12.75% return for the index. Since its inception, investors in the fund have earned an annualized return of 12.42%, resulting in a more than tripled investment. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Baron Discovery Fund featured stocks such as Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) in the fourth quarter 2023 investor letter. Headquartered in San Diego, California, Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) is a life sciences company. On February 6, 2024, Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) stock closed at $5.54 per share. One-month return of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) was -18.53%, and its shares lost 61.10% of their value over the last 52 weeks. Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) has a market capitalization of $1.392 billion.
Baron Discovery Fund stated the following regarding Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) in its fourth quarter 2023 investor letter:
“While Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) remains a relatively small position in the Fund, we believe that better days are ahead for this mRNA-oriented drug development technology company. We think that over the coming years its pipeline will start to bear fruit, and we can be patient as it is already cash-flow positive with net cash on its balance sheet.”
A research scientist in a lab wearing safety glasses, surrounded by laboratory equipment testing life science samples.
Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) at the end of third quarter which was 26 in the previous quarter.
We discussed Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) in another article and shared the list of cheap biotechnology stocks that smart investors are piling into. In addition, please check out our hedge fund investor letters Q4 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.
