META - Baron Durable Advantage Fund Q1 2024 Shareholder Letter
2024-05-10 00:30:00 ET
Summary
- Baron is an asset management firm focused on delivering growth equity investment solutions known for a long-term, fundamental, active approach to growth investing.
- Baron Durable Advantage Fund gained 10.9% in Q1 2024, slightly outperforming the S&P 500 Index.
- The fund's performance was driven by a robust US economy and the strong performance of companies like Nvidia, Amazon, and Meta.
- The portfolio structure is focused on high-quality, competitively advantaged companies with durable growth characteristics.
Dear Baron Durable Advantage Fund Shareholder:
Performance
It was another strong quarter.
Baron Durable Advantage Fund® ( BDAIX, the Fund) gained 10.9% (Institutional Shares) during the first quarter, slightly ahead of the 10.6% gain for the S&P 500 Index ( SP500 , SPX , the Index), the Fund's benchmark.
Table I. Performance Annualized for periods ended March 31, 2024
| Baron Durable Advantage Fund Retail Shares 1,2 |
| Baron Durable Advantage Fund Institutional Shares 1,2 |
| S&P 500 Index 1 |
| Three Months 3 |
| 10.83% |
| 10.86% |
| 10.56% |
| One Year |
| 38.68% |
| 39.01% |
| 29.88% |
| Three Years |
| 15.61% |
| 15.89% |
| 11.49% |
| Five Years |
| 18.56% |
| 18.84% |
| 15.05% |
| Since Inception (December 29, 2017) |
| 15.70% |
| 15.97% |
| 13.37% |