Baron Health Care Fund increased 5.39% in Q3 2025, compared with the 5.05% gain for the Russell 3000 Health Care Index and the 8.18% gain for the Russell 3000 Index.
The fund outperformed by 9.30% on a YoY basis, compared with the 8.68% gain for the benchmark and the 14.48% gain for the index.
In the quarter, the fund initiated new positions in AbbVie (NYSE:ABBV), UnitedHealth Group (NYSE:UNH), Roivant Science (NASDAQ:ROIV), Cidara Therapeutics (NASDAQ:CDTX), and Thermo Fisher Scientific (NYSE:TMO).
During Q3, the fund exited Waters (NYSE:WAT) and The Cooper Companies (NASDAQ:COO). The fund reduced its position in argenx SE (NASDAQ:ARGX), Eli Lilly and Company (NYSE:LLY), and Masimo (NASDAQ:MASI).
