Baron
Baron Fifth Avenue Growth Fund
US Mega-cap Growth
Dec 2024 → Mar 2026
Our archive holds 5 letters from this strategy, behind 8 investment theses and positions in 8 companies. Every quote below is copied verbatim from the letter it came from.
5 letters in 3 years — follow all of Baron for every strategy.
Its investment theses
- Amphenol CorporationMar 2026Amphenol is a diversified interconnect leader with a strong culture, AI-driven growth acceleration, and a long runway for compounding.
- Meta Platforms, Inc.Dec 2025Meta Platforms is a dominant social network benefiting from AI-driven engagement and ad improvements with long-term monetization optionality despite elevated near-term AI spend.
- Broadcom Inc.Dec 2025Broadcom is a leading semiconductor and infrastructure software provider uniquely positioned to co-design custom AI accelerators and networking at scale with accelerating AI revenue and strong margins.
- Monolithic Power Systems, Inc.Dec 2025Monolithic Power Systems designs leading power management semiconductors poised to benefit from surging AI data center power density and automotive electrification.
- Alphabet Inc.Sep 2025Alphabet Inc. is well-positioned for long-term growth despite potential risks from generative AI, leveraging its extensive ecosystem, AI expertise, and diversified revenue streams to maintain a competitive advantage.
- CrowdStrike Holdings, Inc.Sep 2025CrowdStrike Holdings, Inc. is a leading cybersecurity platform experiencing reacceleration in revenue growth through strong product adoption and customer trust, making it a core long-term investment with robust margins and cash flow generation.
- KKRSep 2025KKR & Co. Inc. is a leading alternative asset manager poised for growth with a diversified business model and strong fundraising capabilities, targeting $1 trillion in assets under management.
- Mobileye Global Inc.Dec 2024Mobileye Global Inc. is a promising investment opportunity in the autonomous vehicle market, showing progress despite past challenges.