Baron Small Cap Fund’s Q3 2026 Investor Letter

Baron Capital, an investment management company, released its Q3 2026 investor letter for the “Baron Small Cap Fund.” In Q3, the Baron Small Cap Fund declined 7.69% (Institutional Shares), outperforming the Russell 2000 Growth Index, which fell 9.39%. Year to date, the Fund is down 4.30%, while the Index is up 10.71%. The Fund’s initial strength in July and August was followed by a September sell-off driven by rising interest rates, inflation concerns, and geopolitical tensions,...