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Baron Discovery Fund Sold Ichor Holdings, Ltd. (ICHR) in Q1

Baron Funds, an investment management company, released its “Baron Discovery Fund” first quarter 2024 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund (Institutional Shares) returned 4.57% underperforming the 7.58% return for the Russell 2000 Growth Index. The firm is optimistic about the Fund’s prospects for 2024. In addition, please check the fund’s top five holdings to know its best picks in 2024.

Baron Discovery Fund featured stocks like Ichor Holdings, Ltd. (NASDAQ:ICHR) in the first quarter 2024 investor letter. Incorporated in 1999, Ichor Holdings, Ltd. (NASDAQ:ICHR) designs and manufactures fluid delivery subsystems for semiconductor capital equipment. On May 14, 2024, Ichor Holdings, Ltd. (NASDAQ:ICHR) stock closed at $37.38 per share. One-month return of Ichor Holdings, Ltd. (NASDAQ:ICHR) was -0.55%, and its shares gained 27.78% of their value over the last 52 weeks. Ichor Holdings, Ltd. (NASDAQ:ICHR)  has a market capitalization of $1.279 billion.

Baron Discovery Fund stated the following regarding Ichor Holdings, Ltd. (NASDAQ:ICHR) in its first quarter 2024 investor letter:

"We sold the remaining portion of our position in Ichor Holdings, Ltd. (NASDAQ:ICHR), which manufactures semiconductor capital equipment components, as we felt the stock’s valuation was already embedding a relatively strong upcycle in wafer fabrication equipment spending and to make room for other positions with more long-term upside."

A close-up of a precision machined component of a fluid delivery subsystem.

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Ichor Holdings, Ltd. (NASDAQ:ICHR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 10 hedge fund portfolios held Ichor Holdings, Ltd. (NASDAQ:ICHR) at the end of the fourth quarter which was 9 in the previous quarter.

In another article we discussed Ichor Holdings, Ltd. (NASDAQ:ICHR) and shared Baron Discovery Fund's views on the company in the previous quarter. The fund sold some of its holdings in Ichor Holdings, Ltd. (NASDAQ:ICHR) in the previous quarter to use the capital for better opportunities. In addition, please check out our hedge fund investor letters Q1 2024 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.