Baron Small Cap Fund Q4 2022 Quarterly Letter

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Summary

  • Baron is an asset management firm focused on delivering growth equity investment solutions known for a long-term, fundamental, active approach to growth investing.
  • Baron Small Cap Fund (the “Fund”) was up 4.24% (Institutional Shares) in the fourth quarter of 2022. For the year, the Fund was down 31.05%.
  • We must admit that the near-term outlook is murky and subject to change. If the economy is weaker than we expect or stays soft longer than we would expect then the recovery in stock prices will be delayed.

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December 31, 2022                                                                                                   Baron Small Cap Fund
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