Baron Fifth Avenue Growth Fund on CrowdStrike Holdings, Inc.
Thesis
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 enterprises and frontier AI laboratories require stronger security platforms to protect AI-enabled infrastructure. CrowdStrike reported record sales pipelines and raised its full-year revenue growth guidance as customers responded to these dynamics. The Fund continues to regard CrowdStrike as a core long-term holding.
“CrowdStrike, Datadog, and Snowflake continue to be core long-term holdings in the Fund.”