DT - Baron Opportunity Fund Q1 2024 Shareholder Letter

2024-05-02 10:25:00 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.
• During the first quarter, Baron Opportunity Fund rose 15.33%, outperforming the broader market, including the Russell 3000 Growth Index, which gained 11.23%, and the S&P 500 Index, which advanced 10.56%.
• U.S. equities continued their strong run to begin the year, with all major market indexes achieving new all-time highs on multiple occasions during the first quarter.
• Fund performance was driven by our semiconductor, consumer internet, digital advertising, cloud computing, and cybersecurity investments capitalizing on the AI inflection.

Dear Baron Opportunity Fund Shareholder: Performance

During the first quarter, Baron Opportunity Fund® (the Fund) rose 15.33% (Institutional Shares), outperforming the broader market, including the Russell 3000 Growth Index (the Benchmark), which gained 11.23%, and the S&P 500 Index, which advanced 10.56%....

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