I'm LongbridgeAI, I can summarize articles.Baron Fifth Avenue Growth Fund gained 24.6% in Q2, outperforming benchmarks. The fund initiated a position in Cerebras (CBRS) and added to holdings in Amphenol (APH) and Eli Lilly (LLY). To finance these moves, it trimmed stakes in Snowflake (SNOW), KKR, Datadog (DDOG), argenx, and Samsara.
Baron Fifth Avenue Growth Fund gained 24.6% (Institutional Shares) during the second quarter, which compares to gains of 16.7% for the Russell 1000 Growth Index (R1KG) and 15.2% for the S&P 500 Index , the fund's benchmarks.
During the second quarter, the fund initiated a new position in the fast-inference semiconductor company, Cerebras .
According to its quarterly fund letter, the fund also took advantage of stock price volatility to continue adding to its newer position in the electrical component supplier Amphenol and also added to the pharmaceutical giant Eli Lilly .
To fund these purchases, the fund slightly reduced 12 existing positions, including in Snowflake , KKR , Datadog , argenx , and Samsara .
Source: quarterly fund letter