Baron Asset Fund, an investment management company, recently released its second quarter 2023 investor letter, highlighting the market performance and its top holdings. The letter revealed that the U.S. equities market continued its upward trend for the second consecutive quarter, primarily driven by the notable performance of large technology companies. In line with this growth, the Baron Asset Fund observed a 3.63% increase (Institutional Shares) during the period, albeit trailing behind the Russell Midcap Growth Index’s returns of 6.23%.
However, the fund also experienced some underperformance due to certain stocks. As investors navigate the market, it becomes crucial to stay updated with the fund’s top holdings. One such highlighted stock is MarketAxess Holdings Inc. (NASDAQ:MKTX), an electronic trading platform operator based in New York.
On July 27, 2023, MarketAxess Holdings Inc. (NASDAQ:MKTX) closed at $269.50 per share. Over the past month, the stock recorded a return of 3.09%, though it experienced a 0.47% loss in value over the last 52 weeks. With a market capitalization of $10.152 billion, MarketAxess Holdings Inc. (NASDAQ:MKTX) remains a significant player in its industry.
The Baron Asset Fund emphasized MarketAxess Holdings Inc. (NASDAQ:MKTX) in its investor letter by mentioning its absence from the list of the 30 most popular stocks among hedge funds. However, according to the fund’s database, 29 hedge fund portfolios held shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by the end of the first quarter, compared to 22 in the prior quarter.
For more in-depth insights on MarketAxess Holdings Inc. (NASDAQ:MKTX), readers can refer to another article that discusses Baron FinTech Fund’s perspective on the company. Additionally, the hedge fund investor letters Q2 2023 page provides access to more investor letters from prominent investors and hedge funds.
Disclosure: None. This article was originally published at Insider Monkey.
