Baron Funds, an investment management company, released the “Baron Focused Growth Fund” in the third quarter 2022 investor letter. A copy of it can be downloaded here. In the third quarter, the fund rose 2.18% (Institutional Shares), compared to a 0.12% decline for the Russell 2500 Growth Index and a 4.88% decline for the S&P 500 Index. In addition, please review the fund’s top five holdings to find out its best picks in 2022.
Baron Funds discussed stocks like Krispy Kreme, Inc. (NASDAQ:DNUT) in its Q3 2022 investor letter. Headquartered in Charlotte, North Carolina, Krispy Kreme, Inc. (NASDAQ:DNUT) has an omnichannel business model that serves donuts and coffee. On November 2, 2022, the stock of Krispy Kreme, Inc. (NASDAQ:DNUT) closed at $14.00 per share. The one month return of Krispy Kreme, Inc. (NASDAQ:DNUT) is 9.89% and its shares have gained 1.01% of their value over the past 52 weeks. Krispy Kreme, Inc. (NASDAQ:DNUT) has a market capitalization of $2.344 billion.
Baron Funds made the following comment about Krispy Kreme, Inc. (NASDAQ:DNUT) in its Q3 2022 investor letter:
“Krispy Kreme, Inc. (NASDAQ:DNUT) is a manufacturer and retailer of branded fresh donuts and packaged sweet treats sold through an omni-channel model in the US and internationally. Shares fell following earnings that missed consensus, driven by a challenging macroeconomic environment, negative UK consumer sentiment, and increased labor and commodity costs due to foreign exchange headwinds as a result of strong US dollars. We view these challenges as temporary and see opportunity for growth and margin expansion as Krispy Kreme expands its unique hub-and-spoke business model.”
Krispy Kreme, Inc. (NASDAQ:DNUT) was not on our list of the 30 Most Popular Stocks in Hedge Funds. According to our database, 12 hedge fund portfolios hold Krispy Kreme, Inc. (NASDAQ:DNUT) at the end of the second quarter was 11 in the previous quarter.
We discussed Krispy Kreme, Inc. (NASDAQ:DNUT) in another article and we shared Baron Funds’ views on the company. In addition, please see 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 was originally published on Insider Monkey.