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Baron Funds, an investment management company, released its “Baron Real Estate Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund rose 7.07% (Institutional Shares) compared to a 2.39% return for the MSCI US REIT Index (the “REIT Index”) and a 4.73% return for the MSCI USA IMI Extended Real Estate Index (the “MSCI Real Estate Index”). The firm is optimistic about the prospects for the stock market, public real estate securities, and the fund. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Baron Real Estate Fund highlighted stocks like Wynn Resorts, Limited (NASDAQ:WYNN) in the first quarter 2023 investor letter. Headquartered in Las Vegas, Nevada, Wynn Resorts, Limited (NASDAQ:WYNN) designs, develops and operates destination casino resorts. On June 27, 2023, Wynn Resorts, Limited (NASDAQ:WYNN) stock closed at $105.76 per share. One-month return of Wynn Resorts, Limited (NASDAQ:WYNN) was 7.15%, and its shares gained 82.34% of their value over the last 52 weeks. Wynn Resorts, Limited (NASDAQ:WYNN) has a market capitalization of $12.035 billion.
Baron Real Estate Fund made the following comment about Wynn Resorts, Limited (NASDAQ:WYNN) in its first quarter 2023 investor letter:
"In the first quarter of 2023, we re-acquired shares in Macau-centric casino gaming companies Wynn Resorts, Limited (NASDAQ:WYNN) and Las Vegas Sands Corporation with the following considerations in mind: