LongSPCXJun 2026
Space Exploration Technologies Corp.
SpaceX became the Fund's dominant contributor after completing its public offering, and Baron remains extremely positive on its long-term prospects. The IPO raised more than $85…
Baron Asset Fund
Long-term mid-cap growth investing in competitively advantaged companies benefiting from secular growth trends and led by strong management teams.$4B AUM9 published ideas
Baron Asset Fund is a mid-cap growth fund that typically owns competitively advantaged businesses for long periods and can establish significant positions where the manager has the greatest conviction. Its portfolio combines secular growth companies across technology, communication services, industrials, financials and healthcare, with SpaceX representing an unusually large position at quarter end.
Ideas from Baron Asset Fund
LongAPHJun 2026
Amphenol Corporation
Amphenol's shares recovered after previously selling off on concerns that copper interconnect products could eventually be displaced by optical technologies. Baron believes…
LongPWRJun 2026
Quanta Services
Quanta provides infrastructure solutions across electric and gas utilities, renewable energy, communications, pipelines and other energy markets. Shares benefited from enthusiasm…
LongACGLJun 2026
Arch Capital Group
Arch underperformed as investors rotated away from resilient insurance stocks and property insurance pricing softened. Baron views this pricing cyclicality as normal rather than…
LongCSGPJun 2026
CoStar Group
CoStar's shares fell as fears about AI disruption caused significant multiple compression despite little evidence of a fundamental impact on the business. Baron continues to own…
LongGWREJun 2026
Guidewire Software
Guidewire declined after several new sales moved from the fiscal third quarter into the fourth quarter, which Baron views as a timing issue because those deals subsequently…
LongITJun 2026
Gartner
Gartner detracted as increasing fears about AI disruption caused its valuation multiple to compress. Baron continues to own the company because of its large addressable market…
LongCBRSJun 2026
Cerebras Systems
Baron initiated Cerebras following its IPO because it believes the company has developed one of the most differentiated architectures for fast AI inference. Demand for tokens per…
LongEWJun 2026
Edwards Lifesciences Corporation
Baron initiated Edwards Lifesciences because of its leadership in transcatheter aortic valve replacement and its emerging mitral and tricuspid valve therapies. The team believes…
Letters covered
- Baron Asset Fund Quarterly LetterJune 30, 2026
Source PDFs are not republished here; only extracted ideas and quotes.