Baron International Growth Fund Q1 2025 Top Contributors And Detractors

Apr. 29, 2025 9:30 AM ET, , , , , , , , , , , , ,
Baron Capital
286 Followers
(7min)

Summary

  • BNP Paribas shares rose due to positive EU growth outlook and defense spending, benefiting from Capital Markets Union and strong financial services franchise.
  • Alibaba's shares increased with investments in generative AI and cloud infrastructure, showing core market stabilization and potential profitability despite competitive concerns.
  • Agnico Eagle Mines benefited from a 20% gold price increase, driven by economic uncertainty and U.S. dollar weakness, with strong positions in key mining jurisdictions.
  • Waga Energy, Trent Limited, and Kaynes Technology faced share declines due to U.S. renewable energy policy, soft consumer spending, and delayed industrial orders, respectively, but retain growth potential.

Global Connection Lines - Global Business, Data Exchange, Travel Routes - Multi Colored

DKosig

The following segment was excerpted from the Baron International Growth Fund Q1 2025 Shareholder Letter.


Top Contributors to Performance

Table II.

Top contributors to performance for the quarter ended March 31, 2025

Contribution to Return %
BNP

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Baron is an asset management firm focused on delivering growth equity investment solutions. Founded in 1982, Baron has become known for its long-term, fundamental, active approach to growth investing. Baron was founded as an equity research firm, and research has remained at the core of its business. Note: This account is not managed or monitored by Baron Capital, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use Baron Capital's official channels.

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AEM--
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