Baron Funds, an investment management company, has recently released its “Baron Discovery Fund” investor letter for the third quarter of 2023. If you would like to access a copy of the letter, it can be downloaded here. The fund celebrated its 10-year anniversary on September 30, 2023. Since its inception, the fund has seen a cumulative return of up to 195.3% (Institutional Shares) compared to the Russell 2000 Growth Index’s 91.6% return. During the quarter, the fund returned -5.36% (Institutional Shares) compared to the benchmark’s -7.32% return. The bond market has emerged as the latest challenge to stock market performance for the quarter.
Baron Discovery Fund showcased specific stocks in its third quarter 2023 investor letter, such as Montrose Environmental Group, Inc. (NYSE: MEG). Based in North Little Rock, Arkansas, Montrose Environmental Group, Inc. is an environmental services company. On November 10, 2023, the stock of Montrose Environmental Group, Inc. closed at $25.77 per share. For the one-month return, the stock showed a 3.20% gain, while over the last 52 weeks, its shares lost 46.20% of their value. Montrose Environmental Group, Inc. has a market capitalization of $777.95 million.
In the Q3 2023 investor letter, Baron Discovery Fund issued a comment regarding Montrose Environmental Group, Inc. The company emphasized Montrose’s unique position to benefit from the extensive upcoming government and industry spending on the clean-up of PFAS as well as its ability to capitalize on methane emissions monitoring and detection. The fund expressed confidence in the long-term opportunities presented by Montrose.
Montrose Environmental Group, Inc. (NYSE: MEG) is not listed among the 30 Most Popular Stocks Among Hedge Funds. This could change, as our database indicates that 10 hedge fund portfolios held Montrose Environmental Group, Inc. at the end of the second quarter, which was an increase from the 12 hedge funds holding it in the previous quarter. To learn more about Montrose, please refer to another article discussing the company and a list of the best waste management stocks to buy. You can also visit our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
– None. This article is originally published on the Insider Money website.
