5 days ago
5
Soumya Eswaran
Mon, November 10, 2025 astatine 8:29 AM CST 3 min read
Baron Funds, an concern absorption company, released its “Baron Technology Fund” third-quarter 2025 capitalist letter. A transcript of the missive tin beryllium downloaded here. US equities rallied successful the 3rd 4th pursuing the erstwhile quarter. In the 3rd quarter, the money returned 5.89% (Institutional Shares) but underperformed the MSCI ACWI Information Technology Index's (the Benchmark) 12.76% return, Invesco QQQ Trust's (the QQQ) 8.94% return, and the S&P 500 index's 8.12% return. 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 Technology Fund highlighted stocks specified arsenic NVIDIA Corporation (NASDAQ:NVDA). NVIDIA Corporation (NASDAQ:NVDA) offers graphics, compute, and networking solutions. The one-month instrumentality of NVIDIA Corporation (NASDAQ:NVDA) was -0.09%, and its shares gained 29.53% of their worth implicit the past 52 weeks. On November 7, 2025, NVIDIA Corporation (NASDAQ:NVDA) banal closed astatine $188.15 per share, with a marketplace capitalization of $4.581 trillion.
Baron Technology Fund stated the pursuing regarding NVIDIA Corporation (NASDAQ:NVDA) successful its 3rd 4th 2025 capitalist letter:
"NVIDIA Corporation (NASDAQ:NVDA) is simply a semiconductor and systems institution specializing successful compute and networking platforms for accelerated computing. NVIDIA has captured a ascendant presumption successful AI infrastructure with a broad portfolio spanning semiconductor accelerators, networking solutions, modular and rack-scale systems, and software. Shares roseate during the 4th arsenic capitalist assurance successful AI infrastructure enlargement grew. For its July 2025 quarter, NVIDIA reported 56% full and information halfway gross growth. Looking forward, NVIDIA disclosed near-term visibility of tens of GWs successful AI buildouts, including the 10 GW statement with OpenAI, with each GW representing an estimated $35 cardinal full addressable marketplace (TAM). During its August net call, NVIDIA’s absorption declared: “We are astatine the opening of an concern gyration that volition alteration each industry. We spot $3 trillion to $4 trillion successful AI infrastructure walk by the extremity of the decade.” As AI infrastructure concern accelerates, NVIDIA’s enactment continues to fortify done durable moats crossed compute silicon, networking, systems, software, and proviso chain. We stay assured successful AI’s imaginable to alteration the planetary system and successful NVIDIA’s pivotal relation arsenic the starring enabler of that transformation, positioning it to seizure important semipermanent worth successful the AI era."
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