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 growth companies, has made significant changes to his portfolio in the second quarter of 2024. With a background in Chemistry from Bucknell University and law from George Washington University, Barons investment strategy emphasizes long-term holdings in small to mid-size companies with strong potential. His latest 13F filing reveals new buys, increased stakes, complete sell-outs, and reduced positions, providing a comprehensive view of his investment maneuvers during this period.

Warning! GuruFocus has detected 5 Warning Sign with TSLA. Ron Baron's Strategic Moves in Q2 2024: A Closer Look at Tesla's Position Adjustment

Summary of New Buys

Ron Baron (Trades, Portfolio) added a total of 22 stocks to his portfolio. Noteworthy new acquisitions include:

Ibotta Inc (NYSE:IBTA), with 517,112 shares, accounting for 0.11% of the portfolio and a total value of $38.87 million. Martin Marietta Materials Inc (NYSE:MLM), consisting of 69,085 shares, representing approximately 0.11% of the portfolio, with a total value of $37.43 million. Tempus AI Inc (NASDAQ:TEM), with 784,397 shares, accounting for 0.08% of the portfolio and a total value of $27.45 million.

Key Position Increases

Ron Baron (Trades, Portfolio) also increased stakes in a total of 100 stocks. Significant increases include:

Apple Inc (NASDAQ:AAPL), with an additional 298,283 shares, bringing the total to 300,300 shares. This adjustment represents a significant 14,788.45% increase in share count, a 0.18% impact on the current portfolio, and a total value of $63.25 million. AvalonBay Communities Inc (NYSE:AVB), with an additional 296,324 shares, bringing the total to 347,164. This adjustment represents a 582.86% increase in share count, with a total value of $71.82 million.

Summary of Sold Out Positions

Ron Baron (Trades, Portfolio) completely exited 25 holdings in the second quarter of 2024, including:

Axonics Inc (NASDAQ:AXNX): All 686,565 shares were sold, resulting in a -0.13% impact on the portfolio. Astera Labs Inc (NASDAQ:ALAB): All 500,000 shares were liquidated, causing a -0.1% impact on the portfolio.

Key Position Reductions

Significant reductions were made in 137 stocks, including:

Tesla Inc (NASDAQ:TSLA) was reduced by 1,701,359 shares, resulting in a -9.88% decrease in shares and a -0.8% impact on the portfolio. The stock traded at an average price of $174.77 during the quarter and has returned 13.42% over the past 3 months and -18.96% year-to-date. Boyd Gaming Corp (NYSE:BYD) was reduced by 1,791,381 shares, resulting in a -94.32% reduction in shares and a -0.32% impact on the portfolio. The stock traded at an average price of $57.08 during the quarter and has returned 2.74% over the past 3 months and -9.54% year-to-date.



Portfolio Overview

At the end of the second quarter of 2024, Ron Baron (Trades, Portfolio)'s portfolio included 329 stocks. The top holdings were 8.79% in Tesla Inc (NASDAQ:TSLA), 6.04% in Arch Capital Group Ltd (NASDAQ:ACGL), 5.38% in Gartner Inc (NYSE:IT), 4.09% in CoStar Group Inc (NASDAQ:CSGP), and 3.1% in FactSet Research Systems Inc (NYSE:FDS). The holdings are mainly concentrated in 10 of all the 11 industries: Consumer Cyclical, Technology, Financial Services, Healthcare, Real Estate, Industrials, Communication Services, Consumer Defensive, Basic Materials, and Utilities. Ron Baron's Strategic Moves in Q2 2024: A Closer Look at Tesla's Position Adjustment Ron Baron's Strategic Moves in Q2 2024: A Closer Look at Tesla's Position Adjustment

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.

This article first appeared on GuruFocus.