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Baron

Dec 2024 → Jun 2026 · Publishes quarterly · 22 funds

Our archive holds 103 letters from Baron, behind 371 investment theses and positions in 183 companies. Every quote below is copied verbatim from the letter it came from.

Baron’s own letters page
103
Letters
183
Companies
99
Moves
371
Theses

What they bought and sold · 99 moves

  • New positionRubrik, Inc.
    June 2026
    “We initiated a position in Rubrik, Inc. , a subscription software company focused on automating backup, storage, and recovery of corporate data, as well as creating resilience to cyberattacks on that data.”
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  • New positionCurbline Properties Corp.
    June 2026
    “In the second quarter, we acquired shares in Curbline Properties Corp., a shopping center REIT that owns a portfolio exclusively concentrated on convenience properties located on the curbline of well-tracked intersections and vehicular corridors in highly desirable markets.”
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  • New positionRasan Information Technology Company
    June 2026
    “During the quarter, adding to our digitization theme, we accumulated a position in Rasan Information Technology Company , the leading digital insurance and financial services marketplace in Saudi Arabia.”
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  • New positionSartorius Stedim Biotech S.A.
    June 2026
    “We established a new position in Sartorius Stedim Biotech S.A. , which supplies equipment and reagents to biopharmaceutical companies for the production of biologic drugs.”
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  • AddedBXP, Inc.
    June 2026
    “In the second quarter, we reacquired shares in BXP, Inc. (formerly known as Boston Properties), a blue-chip office REIT that owns a portfolio of premier office properties in coastal U.S. markets including Boston, New York City, San Francisco, Washington, D.C., Los Angeles, and Seattle, following a share price correction in the first quarter.”
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  • AddedWelltower Inc.
    June 2026
    “During the quarter, we added to our position in Welltower Inc. , which owns and operates senior housing communities in the U.S. and internationally.”
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  • AddedMettler-Toledo International Inc.
    June 2026
    “We added to our position in Mettler-Toledo International Inc ., a company we have owned in the Fund since inception.”
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  • TrimmedDatadog, Inc.
    June 2026
    “We trimmed our Datadog, Inc. position to a lower portfolio weight after the stock rose 121% in the second quarter.”
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  • ExitedPark Systems Corporation
    June 2026
    “Disposals included InPost S.A. , Bharti Airtel Limited , HD Korea Shipbuilding & Offshore Engineering Co., Ltd. , Park Systems Corporation , Reliance Industries Limited , Kaynes Technology India Limited , and Kuaishou Technology .”
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  • AddedIndustria de Diseno Textil, S.A.
    June 2026
    “Lastly, we increased our exposure to several existing positions during the quarter, including Industria de Diseno Textil, S.A. , Alibaba Group Holding Limited , Symrise AG , SK hynix Inc. , JSW Energy Limited , On Holding AG , and SMS Co., Ltd.”
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  • AddedUDR, Inc.
    June 2026
    “In the second quarter of 2026, we increased exposure to multi-family REITs Equity Residential, Essex Property Trust, Inc., and UDR, Inc.”
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  • TrimmedEquinix, Inc.
    June 2026
    “Following a 40% increase in the shares of Equinix, Inc. , a leading global operator of data centers, we trimmed the Strategy's large position in the company but remain bullish about the company’s long-term business prospects.”
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  • AddedAcutaas Chemicals Limited
    June 2026
    “Finally, we added to several of our existing positions during the quarter, most notably InterGlobe Aviation Limited , Bajaj Finance Limited , JSW Energy Limited , Acutaas Chemicals Limited , Nuvama Wealth Management Limited , Divi's Laboratories Limited , and Trent Limited .”
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  • TrimmedMonolithic Power Systems, Inc.
    June 2026

    Listed in Baron’s reported holdings.

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  • New positionINOX India Limited
    June 2026
    “We were active in adding to our Make in India/supply chain diversification theme by initiating positions in INOX India Limited (INOXCVA) and KSH International Limited .”
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  • AddedInterGlobe Aviation Limited
    June 2026
    “Finally, we added to several of our existing positions during the quarter, most notably InterGlobe Aviation Limited , Bajaj Finance Limited , JSW Energy Limited , Acutaas Chemicals Limited , Nuvama Wealth Management Limited , Divi's Laboratories Limited , and Trent Limited .”
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  • AddedEquity Residential
    June 2026
    “In the second quarter of 2026, we increased exposure to multi-family REITs Equity Residential, Essex Property Trust, Inc., and UDR, Inc.”
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  • ExitedKuaishou Technology
    June 2026
    “Disposals included InPost S.A. , Bharti Airtel Limited , HD Korea Shipbuilding & Offshore Engineering Co., Ltd. , Park Systems Corporation , Reliance Industries Limited , Kaynes Technology India Limited , and Kuaishou Technology .”
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  • Addedd'Alba Global Co., Ltd.
    June 2026
    “We added to several of our existing positions during the quarter, including JSW Energy Limited , Grupo Mexico, S.A.B. de C.V. , SK hynix Inc. , Alibaba Group Holding Limited , Nu Holdings Ltd. , Power Grid Corporation of India Limited , Contemporary Amperex Technology Co., Limited , d'Alba Global Co., Ltd. , and Pony AI Inc.”
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  • ExitedHD Korea Shipbuilding & Offshore Engineering Co., Ltd.
    June 2026
    “During the quarter, we also exited several positions including InPost S.A. , HD Korea Shipbuilding & Offshore Engineering Co., Ltd. , Kuaishou Technology , Park Systems Corporation , Kaynes Technology India Limited , WuXi Biologics (Cayman) Inc. , and HDFC Bank Limited , as we continue our endeavor to allocate capital to our highest conviction ideas.”
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  • ExitedHDFC Bank Limited
    June 2026
    “During the quarter, we also exited several positions including InPost S.A. , HD Korea Shipbuilding & Offshore Engineering Co., Ltd. , Kuaishou Technology , Park Systems Corporation , Kaynes Technology India Limited , WuXi Biologics (Cayman) Inc. , and HDFC Bank Limited , as we continue our endeavor to allocate capital to our highest conviction ideas.”
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  • TrimmedGDS Holdings Limited
    June 2026
    “we trimmed our position and reallocated capital to companies where we have a higher degree of visibility and lower exogenous risks such as the current geopolitical environment.”
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  • New positionWingstop Inc.
    June 2026
    “Wingstop Inc. was a previous successful investment that remains a best-in-class franchisor with stellar unit economics and long growth runway.”
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  • TrimmedVail Resorts, Inc.
    June 2026

    Listed in Baron’s reported holdings.

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  • ExitedTaylor Morrison Home Corporation
    June 2026
    “Following the announcement of Berkshire Hathaway’s agreement to acquire Taylor Morrison Home Corporation , a leading national homebuilder, we exited the Strategy's investment in the company.”
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  • ExitedServiceNow, Inc.
    June 2026
    “We exited our position in ServiceNow, Inc. , which was a successful long-term investment for the Fund, and redeployed the capital into the software and digital services names discussed in the Review and Outlook section above.”
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  • ExitedEssential Properties Realty Trust, Inc.
    June 2026
    “We exited the Strategy’s position in Essential Properties Realty Trust, Inc. and reallocated to the proceeds to other REITs that we believe may offer superior return potential.”
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  • TrimmedSiTime Corporation
    June 2026

    Listed in Baron’s reported holdings.

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  • AddedShake Shack Inc.
    June 2026
    “During the quarter we purchased Shake Shack Inc. , a premium fast-casual burger chain.”
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  • ExitedKaynes Technology India Limited
    June 2026
    “Disposals included InPost S.A. , Bharti Airtel Limited , HD Korea Shipbuilding & Offshore Engineering Co., Ltd. , Park Systems Corporation , Reliance Industries Limited , Kaynes Technology India Limited , and Kuaishou Technology .”
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Showing the 30 most recent of 99 recorded moves.

Companies held · 183

Every company Baron has disclosed a position in across our archive, with the letter that last mentioned it.

Theses · 371

Showing the 48 most recent of 371 theses. Browse them by company to see the rest.

Letter archive · 103

2026

2025

2024

Funds · 22

  • Baron Health Care Fund8
  • Baron Discovery Fund7
  • Baron India Fund7
  • Baron International Growth Fund7
  • Baron Real Estate Income Strategy7
  • Baron Real Estate Strategy7
  • Baron Emerging Markets Fund6
  • Baron Focused Growth Fund6
  • Baron Opportunity Fund6
  • Baron Small Cap Fund6
  • Baron Asset Fund5
  • Baron Durable Advantage Fund5
  • Baron Fifth Avenue Growth Fund5
  • Baron Partners Fund4
  • Baron Financials ETF3
  • Baron Global Opportunity Fund3
  • Baron Growth Fund3
  • Baron Global Advantage Fund2
  • Baron SMID Cap ETF2
  • Baron Technology Fund2
  • Baron FinTech Fund1
  • Baron First Principles ETF1

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