Baron Fifth Avenue Growth Fund on Snowflake Inc.
Thesis
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 growth outlook from 27% to 31% as AI products contributed meaningful incremental growth. The Fund sees usage-based software businesses such as Snowflake benefiting as customer AI adoption accelerates and creates additional workloads. Snowflake remains a core long-term holding.
“Snowflake continue to be core long-term holdings in the Fund.”