Baron Funds, an investment management company, released its “Baron Real Estate Fund” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. The fund increased 12.46% (Institutional Shares) in the full year compared to a 7.49% return for the MSCI US REIT Index (the REIT Index) and a 12.70% return for the MSCI USA IMI Extended Real Estate Index (the MSCI Real Estate Index). The fund decreased 2.98% in the fourth quarter, outperforming 6.39% and 4.69% declines for the indexes for the same period. In addition, please check the fund’s top five holdings to know its best picks in 2024.
In its fourth quarter 2024 investor letter, Baron Real Estate Fund emphasized stocks such as Brookfield Corporation (NYSE:BN). Brookfield Corporation (NYSE:BN) is an alternative asset manager and REIT/Real Estate Investment Manager firm. The one-month return of Brookfield Corporation (NYSE:BN) was -8.35%, and its shares gained 37.80% of their value over the last 52 weeks. On February 27, 2025, Brookfield Corporation (NYSE:BN) stock closed at $56.87 per share with a market capitalization of $93.67 billion.
Baron Real Estate Fund stated the following regarding Brookfield Corporation (NYSE:BN) in its Q4 2024 investor letter:
“Leading real estate-focused asset managers Blackstone Inc. and Brookfield Corporation (NYSE:BN) have an opportunity to increase market share due to impressive investment track records and global scale advantages. They are positioned to benefit from a secular growth opportunity for alternative assets due to long track records of generating attractive relative and absolute returns with what is perceived, in some cases, as less volatility than several other investment options.”
A financial portfolio manager looking at data on a monitor while managing assets.
Brookfield Corporation (NYSE:BN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 37 hedge fund portfolios held Brookfield Corporation (NYSE:BN) at the end of the fourth quarter compared to 37 in the third quarter. Brookfield Corporation (NYSE:BN) had a strong year in 2024 with record financial results. Distributable earnings before realizations increased 15% to $4.9 billion, amounting to $3.07 per share for the year. Additionally, total distributable earnings rose 31% to $6.3 billion. While we acknowledge the potential of Brookfield Corporation (NYSE:BN) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Brookfield Corporation (NYSE:BN) and shared the list of best-performing Canadian Stocks in 2025. In addition, please check out our hedge fund investor letters Q4 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.