Insights from the Latest 13F Filing Reveal a Significant New Position
Ron Baron (Trades, Portfolio), the esteemed founder of Baron Capital Management and a seasoned investor known for his long-term growth strategy, has revealed his latest investment moves in the fourth quarter of 2023 through the 13F filing. Baron, a graduate of Bucknell University and George Washington University Law School, is renowned for his focus on small to mid-size growth companies with strong market niches. His investment philosophy centers on in-depth, bottom-up research and a value-oriented purchase discipline, often holding investments for an average of over five years.
Summary of New Buys
Ron Baron (Trades, Portfolio)'s portfolio welcomed 16 new stocks in the latest quarter, with notable additions including:
- Birkenstock Holding PLC (BIRK, Financial), with 2,934,001 shares, making up 0.38% of the portfolio and valued at $142.97 million.
- PDD Holdings Inc (PDD, Financial), comprising 504,774 shares, or approximately 0.2% of the portfolio, with a total value of $73.85 million.
- AAON Inc (AAON, Financial), with 192,699 shares, accounting for 0.04% of the portfolio and a total value of $14.23 million.
Key Position Increases
Baron also significantly increased his stakes in 127 stocks, with the most substantial increases in:
- American Tower Corp (AMT, Financial), adding 243,853 shares for a total of 292,913 shares, marking a 497.05% increase in share count and a 0.14% impact on the current portfolio, valued at $63.23 million.
- Fox Factory Holding Corp (FOXF, Financial), with an additional 625,000 shares for a total of 900,000 shares, representing a 227.27% increase in share count and a total value of $60.73 million.
Summary of Sold Out Positions
Exiting 21 positions entirely, Ron Baron (Trades, Portfolio)'s notable sell-offs include:
- The Beauty Health Co (SKIN, Financial), where all 5,318,352 shares were sold, impacting the portfolio by -0.09%.
- E2open Parent Holdings Inc (ETWO, Financial), with a complete liquidation of 6,000,000 shares, causing a -0.08% impact on the portfolio.
Key Position Reductions
Baron's portfolio saw a reduction in 134 stocks, with significant decreases in:
- Marriott Vacations Worldwide Corp (VAC, Financial), reduced by 1,281,447 shares, resulting in a -46.96% decrease in shares and a -0.38% impact on the portfolio. The stock traded at an average price of $85.33 during the quarter and has returned 6.20% over the past 3 months and 0.05% year-to-date.
- Alibaba Group Holding Ltd (BABA, Financial), reduced by 1,055,759 shares, leading to a -39.02% reduction in shares and a -0.27% impact on the portfolio. The stock traded at an average price of $79.68 during the quarter and has seen a -11.48% return over the past 3 months and -5.48% year-to-date.
Portfolio Overview
As of the fourth quarter of 2023, Ron Baron (Trades, Portfolio)'s portfolio is composed of 330 stocks. The top holdings include 11.72% in Tesla Inc (TSLA, Financial), 5.32% in Gartner Inc (IT, Financial), 4.51% in CoStar Group Inc (CSGP, Financial), 4.21% in Arch Capital Group Ltd (ACGL, Financial), and 3.53% in FactSet Research Systems Inc (FDS, Financial). The investments span across 10 of the 11 industries, with a primary focus on Consumer Cyclical, Technology, Financial Services, 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.
