Baron Discovery Fund Sold Ichor Holdings, Ltd. (ICHR) for Better Opportunities
Baron Funds, an investment management company, released its “Baron Discovery Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In 2023, the fund (Institutional Shares) returned 22.58% outperforming the 18.66% return for the Russell 2000 Growth Index. In Q4, the fund returned 12.44% compared to a 12.75% return for the index. Since its inception, investors in the fund have earned an annualized return of 12.42%, resulting in a more than tripled investment. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Baron Discovery Fund featured stocks such as Ichor Holdings, Ltd. (NASDAQ:ICHR) in the fourth quarter 2023 investor letter. Headquartered in Fremont, California, Ichor Holdings, Ltd. (NASDAQ:ICHR) designs and manufactures fluid delivery subsystems for semiconductor capital equipment. On February 6, 2024, Ichor Holdings, Ltd. (NASDAQ:ICHR) stock closed at $37.67 per share. One-month return of Ichor Holdings, Ltd. (NASDAQ:ICHR) was 15.77%, and its shares gained 1.43% of their value over the last 52 weeks. Ichor Holdings, Ltd. (NASDAQ:ICHR) has a market capitalization of $1.107 billion.
Baron Discovery Fund stated the following regarding Ichor Holdings, Ltd. (NASDAQ:ICHR) in its fourth quarter 2023 investor letter:
"We sold some of our position in Ichor Holdings, Ltd. (NASDAQ:ICHR), which is a manufacturer of semiconductor capital equipment. We like Ichor and its management team, but as we await the turnaround of the equipment cycle broadly, we believed there were better opportunities to deploy capital within the IT sector."
A close-up of a precision machined component of a fluid delivery subsystem.
Ichor Holdings, Ltd. (NASDAQ:ICHR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 9 hedge fund portfolios held Ichor Holdings, Ltd. (NASDAQ:ICHR) at the end of third quarter which was 12 in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 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.
