LongDDOGJun 2026
Datadog, Inc.
The Fund believes Datadog is a structural beneficiary of AI adoption, cloud migration, faster application deployment, and increasingly complex technology infrastructure. Revenue…
Baron Fifth Avenue Growth Fund
Bottom-up large-cap growth investing focused on high-quality, competitively advantaged businesses benefiting from disruptive secular change.$803M AUM13 published ideas
Baron Fifth Avenue Growth Fund is a large-cap growth strategy managed by Baron Capital and portfolio manager Alex Umansky. The Fund emphasizes competitively advantaged, well-managed businesses with long-duration growth opportunities and evaluates investments through a disruptive-change lens. Portfolio construction is driven primarily by the quality of individual ideas and the manager's level of conviction.
Ideas from Baron Fifth Avenue Growth Fund
LongCRWDJun 2026
CrowdStrike Holdings, Inc.
The Fund believes increasingly capable AI models will increase rather than reduce structural demand for cybersecurity. More capable AI makes malicious actors more dangerous while…
LongSNOWJun 2026
Snowflake Inc.
The Fund believes Snowflake is benefiting simultaneously from strength in its core data platform and increasing demand for AI capabilities. Management raised its fiscal 2027…
LongISRGJun 2026
Intuitive Surgical, Inc.
The Fund believes the weakness in Intuitive Surgical shares reflects temporary concerns rather than deterioration in the company's long-term opportunity. Investors reacted…
LongSHOPJun 2026
Shopify Inc.
The Fund believes concerns that AI-driven applications will weaken Shopify's position in e-commerce are misplaced and instead sees the company as an AI beneficiary. Shopify…
LongTSMJun 2026
Taiwan Semiconductor Manufacturing Company Limited
The Fund views TSMC as the dominant manufacturer of advanced logic semiconductors required for modern AI accelerators. AI demand is driving exceptionally strong results…
LongNVDAJun 2026
NVIDIA Corporation
The Fund believes investors are underestimating the durability of NVIDIA's growth as AI infrastructure spending expands. Despite repeated concerns about custom ASICs and…
LongAVGOJun 2026
Broadcom Inc.
The Fund views Broadcom as another core beneficiary of sustained AI infrastructure demand and believes its valuation understates the strength of that opportunity. Semiconductor…
LongSPCXJun 2026
Space Exploration Technologies Corp.
The Fund views SpaceX as a unique company positioned at the intersection of AI and the emerging space economy, with competitive advantages it believes are exceptionally difficult…
LongCPNGJun 2026
Coupang, Inc.
The Fund believes Coupang remains a competitively advantaged e-commerce platform despite temporary margin pressure and lingering effects from its 2025 data breach. Capacity and…
LongCRBSJun 2026
Cerebras Systems Inc.
The Fund initiated Cerebras because it believes fast AI inference will become increasingly valuable as AI shifts toward reasoning and agentic workflows. Cerebras' wafer-scale…
LongAPHJun 2026
Amphenol Corporation
The Fund continued building its Amphenol position because it believes the market underestimates the company's ability to innovate and adapt as data-center architectures evolve…
LongLLYJun 2026
Eli Lilly and Company
The Fund added to Eli Lilly because it views the company as a compelling large-scale opportunity in the still-underpenetrated GLP-1 market. It expects GLP-1 drugs to become…
Letters covered
- Baron Fifth Avenue Growth Fund Quarterly LetterJune 30, 2026
Source PDFs are not republished here; only extracted ideas and quotes.