Baron
Baron Financials ETF
Financial Services
Dec 2025 → Mar 2026
Our archive holds 3 letters from this strategy, behind 4 investment theses and positions in 4 companies. Every quote below is copied verbatim from the letter it came from.
3 letters in 2 years — follow all of Baron for every strategy.
Its investment theses
- Bank of America CorporationMar 2026Bank of America is a scale U.S. bank with durable low-cost deposits, leading digital capabilities, and multiple EPS growth and margin expansion drivers at an attractive valuation.
- Morgan StanleyDec 2025Morgan Stanley is a diversified wealth and investment banking leader with durable, capital-light growth, competitive advantages, and potential for 20%+ ROE.
- S&P Global Inc.Dec 2025S&P Global Inc. is a leading ratings and data provider with strong tailwinds from issuance and data demand, supporting sustained organic growth, margin expansion, and double-digit EPS growth.
- Neptune Insurance Holdings Inc.Dec 2025Neptune Insurance Holdings Inc. is a capital-efficient private flood insurance MGA with scalable advantages, large TAM, and 15–20% EBITDA growth potential.