Refreshed Shareholder Letter: Q1 2025 Baron Fifth Avenue Growth Fund
Top Performers and Underperformers in Baron Fifth Avenue Growth Fund Q1 2025
Here's a rundown of the big dogs that leveled up our game in Q1 2025!
Game Changers: The Heavy Hitters
Table II.
Our MVPs for the quarter ended March 31, 2025
| Quarter End Market Cap($ billions) | Contribution |
Our trio of preferred shares, X.AI Holdings Corp., MercadoLibre, Inc., and Veeva Systems Inc., stole the show during Q1. These rockstars have been instrumental in our march towards success, although, it's worth highlighting that we didn't quite reach the finishing line as we wished. We found ourselves trailing behind the Russell 1000 Growth Index.
Now, let's get to know these champions better:
- X.AI Holdings Corp.: This hard-hitting player is making waves with its cutting-edge AI advancements and tactical acquisitions. Sadly, as of our latest find, X.AI Holdings Corp.'s market cap specifics remain a mystery. Still, you can bet your bottom dollar that this puppy's on the rise!
- MercadoLibre, Inc.: You may have heard about this badass, given its stellar revenue and margin growth. It reigns supreme as a powerhouse in the e-commerce scene, particularly in Latin America. As it stands, MercadoLibre boasts a whopping market cap of around $70 billion USD.
- Veeva Systems Inc.: This underdog from the life sciences biz is charging full speed ahead with its cloud-based software solutions. With a market cap of roughly $28 billion USD, Veeva's an unstoppable force to be reckoned with!
To stay on top of market cap figures for our key players, keep a watchful eye on their latest financials and market data. Go team!
Contribution
Engaging in strategic investments, we've recognized the remarkable potential of X.AI Holdings Corp., MercadoLibre, Inc., and Veeva Systems Inc. Over the course of Q1 2025, these businesses fortified our portfolio tremendously, with X.AI making waves through groundbreaking AI advancements, MercadoLibre dominating the e-commerce sector, particularly in Latin America, and Veeva Systems establishing itself as an unstoppable power in the life sciences industry through its innovative cloud-based software solutions.
