3 days ago
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Soumya Eswaran
Thu, February 12, 2026 astatine 7:45 AM CST 4 min read
Baron Fund, an concern absorption company, released its Q4 2025 missive for “Baron Durable Advantage Fund”. A transcript of the missive tin be downloaded here. The Fund returned 2.6% successful the 4th quarter, which mirrored the S&P 500 Index’s 2.7% return. The Fund returned 16.6% successful 2025, compared to 17.9% for the Index and 16.1% summation for the Peer Group, Morningstar Large Growth Category average. Moving to 2026, successful an situation dominated by geopolitics, changing regulatory trends, and artificial intelligence, the Fund focuses connected investing successful high-quality, large-cap companies with coagulated competitory advantages, proven way record, and accordant shareholder returns. Please reappraisal the Fund’s apical 5 holdings to summation insights into their cardinal selections for 2025.
In its fourth-quarter 2025 capitalist letter, Baron Durable Advantage Fund highlighted stocks similar Quanta Services, Inc. (NYSE:PWR). Quanta Services, Inc. (NYSE:PWR) is simply a starring specialized declaration services institution that provides infrastructure solutions for electrical and state utilities, renewable energy, communications, pipeline, and vigor industries. On February 11, 2026, Quanta Services, Inc. (NYSE:PWR) banal closed astatine $523.96 per share. One-month instrumentality of Quanta Services, Inc. (NYSE:PWR) was 17.05%, and its shares are up 80.14% implicit the past 12 months. Quanta Services, Inc. (NYSE:PWR) has a marketplace capitalization of $78.131 billion.
Baron Durable Advantage Fund stated the pursuing regarding Quanta Services, Inc. (NYSE:PWR) successful its 4th fourth 2025 capitalist letter:
"During the quarter, we initiated a caller presumption successful Quanta Services, Inc. (NYSE:PWR), a starring specialty contracting institution that provides broad engineering, procurement, operation and repair, and attraction services for electrical and state utilities, renewable vigor projects, telecom projects, and different types of infrastructure. We invested successful Quanta owed to the company’s satellite people way record, compounding revenues and EPS astatine 14% and 18% CAGR implicit the past 15 years, respectively. What makes this adjacent much awesome is that Quanta has achieved that effect successful a comparatively level electrical load situation (power demand) driven by worldly marketplace stock gains. Going forward, we judge that Quanta volition progressively payment from secular maturation tailwinds for energy-related infrastructure. We besides similar the company’s starring competitory position, which is derived from its estimation and acquisition completing large-scale infrastructure projects and its quality to utilize its 68,000 idiosyncratic craft-skilled labour unit to aforesaid execute projects, ensuring they are completed on-time and connected budget. We judge Quanta tin reliably turn its net astatine a mid teens cadence oregon amended for the foreseeable aboriginal and that the institution has the close absorption squad successful spot to execute connected the accidental successful beforehand of it.
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