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Over more than four decades managing money, Ron Baron has heard all the advice. Diversify your bets. Cut losers. Let the valuation numbers guide you. He’s taken virtually none of it and in so doing has achieved a record of investment success that’s the envy of Wall Street. There is one rule he adheres to: buy a handful of stocks and hold them—almost no matter what.
It’s a style fraught with risk. But Baron has made the right picks, most notably placing early bets on Elon Musk’s companies—by far his top holdings. Having the nerve to stick with them has propelled his New York-based firm into the top 10% of US mutual fund managers by assets. The Baron Partners Fund was the sole actively managed mutual fund, out of almost 1,500, to outperform the tech-heavy Nasdaq-100 index over the five, 10 and 15 years through July 2023, according to Bloomberg Intelligence.
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