ARGNF - Baron Fifth Avenue Growth Fund 1Q23 Quarterly Letter

2023-05-10 04:56:00 ET

Summary

• Baron Fifth Avenue Growth Fund gained 19.7% during the first quarter, which compares to gains of 14.4% for the Russell 1000 Growth Index and 7.5% for the S&P 500 Index, the Fund’s benchmarks.
• The Fund is constructed on a bottom-up basis with the quality of ideas and level of conviction playing the most significant role in determining the size of each investment.
• We are optimistic about the long-term prospects of the companies in which we are invested and continue to search for new ideas and investment opportunities while remaining patient and investing only when we believe target companies are trading at attractive prices relative to their intrinsic values.

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