Baron Asset Fund’s Top Contributor: Gartner (IT)
Baron Funds, an investment management company, released its “Baron Asset Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund (institutional shares) declined 2.07% compared to a 0.65% decline for the Russell Midcap Growth Index. Differences in sector weights led to the underperformance of the fund in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Baron Funds discussed stocks like Gartner, Inc. (NYSE:IT) in the Q3 2022 investor letter. Headquartered in Stamford, Connecticut, Gartner, Inc. (NYSE:IT) is a research and advisory company. On October 21, 2022, Gartner, Inc. (NYSE:IT) stock closed at $289.75 per share. One-month return of Gartner, Inc. (NYSE:IT) was 4.96% and its shares lost 10.71% of their value over the last 52 weeks. Gartner, Inc. (NYSE:IT) has a market capitalization of $22.917 billion.
Baron Funds made the following comment about Gartner, Inc. (NYSE:IT) in its Q3 2022 investor letter:
“Shares of Gartner, Inc. (NYSE:IT), which sells syndicated research to corporations largely through annual subscription contracts, was the largest positive contributor. Business conditions remained strong, with Gartner’s research segment continuing to compound revenues at double-digit levels. We expect sustained revenue growth, driven partly by price increases, and ongoing cost control efforts to drive continued margin expansion and enhanced free cash flow generation. The company’s balance sheet remains in excellent shape, and we expect further share repurchases”
Research, Investment, Finance
Gartner, Inc. (NYSE:IT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 38 hedge fund portfolios held Gartner, Inc. (NYSE:IT) at the end of the second quarter, which was 35 in the previous quarter.
We discussed Gartner, Inc. (NYSE:IT) in another article and shared Baron Funds' views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
