Insights into Baron Capital Management's Latest 13F Filing
Ron Baron (Trades, Portfolio), the founder of Baron Capital Management and a seasoned investor known for his focus on small to mid-size growth companies, has made significant portfolio adjustments in the first quarter of 2024. With a philosophy centered on long-term investments and a keen eye for companies with strong growth potential, Baron's recent 13F filing reveals intriguing shifts in his investment strategies, including new buys, position increases, and notable reductions.
Summary of New Buys
Ron Baron (Trades, Portfolio) added a total of 16 stocks to his portfolio this quarter. Noteworthy new additions include:
- Intapp Inc (INTA, Financial), with 2,583,231 shares, making up 0.24% of the portfolio and valued at $88.6 million.
- Masimo Corp (MASI, Financial), comprising 345,800 shares, which represent approximately 0.14% of the portfolio, with a total value of $50.8 million.
- Tencent Music Entertainment Group (TME, Financial), with 3,651,224 shares, accounting for 0.11% of the portfolio and a total value of $40.9 million.
Key Position Increases
Ron Baron (Trades, Portfolio) also increased his stakes in a total of 102 stocks. Significant increases include:
- Spotify Technology SA (SPOT, Financial), with an additional 190,931 shares, bringing the total to 864,584 shares. This adjustment represents a significant 28.34% increase in share count, impacting the current portfolio by 0.13%, with a total value of $228.2 million.
- Procore Technologies Inc (PCOR, Financial), with an additional 441,256 shares, bringing the total to 499,559. This adjustment represents a significant 756.83% increase in share count, with a total value of $41.0 million.
Summary of Sold Out Positions
Ron Baron (Trades, Portfolio) completely exited 14 holdings in the first quarter of 2024, including:
- MarketAxess Holdings Inc (MKTX, Financial): All 67,596 shares were sold, resulting in a -0.05% impact on the portfolio.
- Clarivate PLC (CLVT, Financial): All 2,000,000 shares were liquidated, causing a -0.05% impact on the portfolio.
Key Position Reductions
Significant reductions were made in 152 stocks, including:
- PENN Entertainment Inc (PENN, Financial), where 4,789,345 shares were reduced, resulting in a -93.13% decrease in shares and a -0.34% impact on the portfolio. The stock traded at an average price of $20.65 during the quarter and has returned -17.98% over the past three months and -38.89% year-to-date.
- Tesla Inc (TSLA, Financial), with a reduction of 490,694 shares, resulting in a -2.77% reduction in shares and a -0.32% impact on the portfolio. The stock traded at an average price of $195.37 during the quarter and has returned -13.19% over the past three months and -29.97% year-to-date.
Portfolio Overview
As of the first quarter of 2024, Ron Baron (Trades, Portfolio)'s portfolio included 332 stocks. The top holdings included 8.07% in Tesla Inc (TSLA), 5.4% in Gartner Inc (IT, Financial), 5.18% in Arch Capital Group Ltd (ACGL, Financial), 4.98% in CoStar Group Inc (CSGP, Financial), and 3.37% in MSCI Inc (MSCI, Financial). The holdings are mainly concentrated in 10 of all the 11 industries: Consumer Cyclical, Financial Services, Technology, Healthcare, Real Estate, Industrials, Communication Services, Consumer Defensive, Basic Materials, and Utilities.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
