Baron Asset Fund Adds Positions in Cerebras Systems and Edwards, Exits FICO and Franklin Electric
In Q2 2026, Baron Asset Fund's Institutional Shares returned 18.98%, outperforming both the Russell Midcap Growth Index by 443 basis points and the broader Russell 3000 Index by 354 basis points. The fund added new positions in Cerebras Systems (NASDAQ: CBRS) and Edwards, while exiting holdings in FICO (FICO) and Franklin Electric (FND). This strategic shift reflects a reallocation of capital toward emerging technology firms like Cerebras Systems. Cerebras is known for its advanced AI chip development, which could position the fund to benefit from growth in artificial intelligence infrastructure. Edwards likely refers to Edwards Lifesciences or another entity within that sector, though further clarification may be needed depending on context. The exit of FICO and Franklin Electric suggests a reassessment of these companies' long-term prospects by Baron Asset Fund. The performance highlights the fund's ability to generate strong returns through active stock selection in mid-cap growth sectors.
Topics: Baron Asset Fund Cerebras Systems Russell Midcap Growth Index