4 days ago
2
Soumya Eswaran
Wed, November 12, 2025 astatine 7:47 AM CST 3 min read
Baron Funds, an concern absorption company, released its “Baron Real Estate Fund” third-quarter 2025 capitalist letter. A transcript of the missive tin beryllium downloaded here. The money delivered beardown results successful the quarter. The money appreciated 10.25% (Institutional Shares) compared to the MSCI US REIT Index’s (the REIT Index) 4.49% and the MSCI USA IMI Extended Real Estate Index’s 5.65%. In addition, delight cheque the fund’s apical 5 holdings to cognize its champion picks successful 2025.
In its third-quarter 2025 capitalist letter, Baron Real Estate Fund highlighted stocks specified arsenic Airbnb, Inc. (NASDAQ:ABNB). Headquartered successful San Francisco, California, Airbnb, Inc. (NASDAQ:ABNB) operates a level that connects hosts and guests. The one-month instrumentality of Airbnb, Inc. (NASDAQ:ABNB) was -1.39%, and its shares mislaid 7.71% of their worth implicit the past 52 weeks. On November 11, 2025, Airbnb, Inc. (NASDAQ:ABNB) banal closed astatine $122.53 per share, with a marketplace capitalization of $74.296 billion.
Baron Real Estate Fund stated the pursuing regarding Airbnb, Inc. (NASDAQ:ABNB) successful its 3rd 4th 2025 capitalist letter:
"The shares of Airbnb, Inc. (NASDAQ:ABNB), the largest technology-enabled hospitality level successful the satellite with 8 cardinal listings and 5 cardinal hosts crossed 220 countries and 100,000 cities, detracted from show successful the astir caller 4th contempt reporting robust 2nd 4th results. Market concerns centered astir expectations for a sequential maturation deceleration successful the 3rd 4th owed to tougher year-over-year maturation comparisons, broader leisure question trends successful an uncertain economical environment, and the company’s upcoming guidance regarding imaginable incremental investments and their imaginable antagonistic interaction connected currency travel margins successful 2026.
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