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Stock impact report

Baron Focused Growth Fund Q4 2025 Commentary [Seeking Alpha]

On Holding AG (ONON) 
Company Research Source: Seeking Alpha
Despite recent gains, a significant portion of the stocks in the portfolio continue to trade at multiples below historical levels. SpaceX is generating significant value with the rapid expansion of its Starlink broadband service, reporting substantial growth in active users, and regularly deploying new hardware technology. While there will always be market volatility, we believe we can reduce that volatility via this portfolio that is approximately 80% as volatile as the market. We believe Guidewire will be the critical software vendor for the global P&C insurance industry, capturing 30% to 50% of its $15 billion to $30 billion total addressable market. Marcus Millo/iStock via Getty Images Dear Baron Focused Growth Fund Shareholder, Performance Baron Focused Growth Fund® (the Fund) finished the last quarter of 2025 strongly, with a gain of 12.34% (Institutional Shares) compared with a 0.33% increase for the Russell 2500 Growth Index (the Benchmark). This brought This Show less Read more
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