4 days ago
2
Soumya Eswaran
Wed, November 12, 2025 astatine 7:40 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 AAON, Inc. (NASDAQ:AAON). AAON, Inc. (NASDAQ:AAON), with a marketplace capitalization of $8.482 billion, engages successful engineering, manufacturing, marketing, and organisation of aerial conditioning and heating equipment. The one-month instrumentality of AAON, Inc. (NASDAQ:AAON) was -0.35%, and its shares mislaid 22.83% of their worth implicit the past 52 weeks. On November 11, 2025, AAON, Inc. (NASDAQ:AAON) banal closed astatine $103.90 per share.
Baron Real Estate Fund stated the pursuing regarding AAON, Inc. (NASDAQ:AAON) successful its 3rd 4th 2025 capitalist letter:
"Following a 40% diminution from its highest stock terms earlier successful 2025, we began purchasing shares of AAON, Inc. (NASDAQ:AAON), a differentiated, champion in-class supplier of premium HVAC products, targeting the North American airy commercialized market, and information halfway cooling solutions done its BASX subsidiary. We judge the crisp diminution successful AAON’s stock terms was caused by an overreaction to the company’s Investor Day guidance and a impermanent hiccup owed to a caller Enterprise Resource Planning implementation successful the 2nd quarter.
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