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Investment management company Baron Funds has announced the fourth quarter 2023 investor letter for the Baron Fifth Avenue Growth Fund. You can download a copy of the same here. The fund rose 17.6% (institutional stocks) in the fourth quarter, compared to the Russell 1000 Growth Index’s 14.2% gain and the S&P 500’s 11.7% gain. For the full year, the fund rose 57.6%, compared to index returns of 42.7% and 26.3%, respectively. Plus, check out the fund’s top 5 holdings to find out the best stocks for 2023.
Baron Fifth Avenue Growth Fund featured stocks like Coupang (NYSE:CPNG) in its Q4 2023 Investor Letter. Coupang, Inc. (NYSE:CPNG), based in Seattle, Washington, owns and operates electronic commerce businesses. On February 22, 2024, Coupang, Inc. (NYSE: CPNG) stock closed at $16.24 per share. Coupang, Inc. (NYSE: CPNG)’s 1-month return is his 11.85%, and the company’s stock has increased his 7.69% in value over the past 52 weeks. Coupang, Inc. (NYSE:CPNG) has a market capitalization of $29.034 billion.
Baron Fifth Avenue Growth Fund said the following about Coupang, Inc. (NYSE:CPNG) in its Q4 2023 investor letter:
“We are also taking advantage of stock price fluctuations to promote the Korean e-commerce platform, Coupang Co., Ltd. (NYSE:CPNG) saw a correction in its stock price during the quarter following a missed EBITDA margin, which we believe is not structural. The company continues to gain market share while maintaining a significant competitive advantage thanks to its robust delivery network. ”
A woman wearing a graphic T-shirt and holding a laptop casually checks e-commerce orders.
Coupang, Inc. (NYSE:CPNG) isn’t on the list of 30 most popular stocks among hedge funds. According to our database, Coupang Inc. (NYSE:CPNG)’s hedge fund portfolio was held in 53 companies at the end of the fourth quarter, down from 55 companies in the prior quarter.
We talked about Coupang, Inc. (NYSE:CPNG) in another article and shared a list of fastest growing e-commerce companies in 2024. Additionally, for other investor letters from hedge funds and investors, please visit our Hedge Fund Investor Letters Q4 2023 page. Other major investors.
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Disclosure: None. This article was originally published on Insider Monkey.
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