Baron Discovery Fund recently published its second-quarter commentary – a copy of which can be downloaded here. During the second quarter of 2021, the Baron Discovery Fund returned 6.07% (institutional shares). In comparison, the benchmark S&P 500 Index was up 8.55%, while the Russell 2000 Growth Index was up 3.92%. You should check out Baron Discovery Fund’s top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.
In the Q2 2021 Investor Letter, the fund highlighted a few stocks and Viant Technology Inc. (NASDAQ:DSP) is one of them. Viant Technology Inc. (NASDAQ:DSP) is a software company. In the last three months, Viant Technology Inc. (NASDAQ:DSP) stock lost 56%. Here is what the fund said:
“Viant Technology Inc. is a leading internet advertising demand-side platform, enabling advertising agencies to efficiently purchase digital advertising across PC, mobile, and online video channels. Viant underperformed during the quarter following recent announcements by Apple and Google to restrict the tracking of third-party cookies on which many advertisers rely on to target potential customers. While it has been known for some time that browsers would eventually restrict cookies, the announcement created uncertainty in investors’ minds on how Viant would navigate a new cookie-less environment. What we believe investors do not understand, however, is that Viant’s tracking capabilities are based on household level data rather than third-party cookies. We have dug deep into the company’s underlying technology with its CTO, CEO, and CFO, and we believe Viant can grow through this transition given its proprietary technology. We believe the intra-quarter stock weakness will dissipate as awareness improves around Viant’s household-level tracking abilities. We have not significantly changed our near-term financial forecasts and still believe longer term that Viant will be a prime beneficiary of the secular growth in digital advertising.”
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Baron Fund has been a long time Viant Technology Inc. (NASDAQ:DSP) bull. In May 2021, we shared Baron Fund DSP’s thesis in this article.
Our calculations showed that Viant Technology Inc. (NASDAQ:DSP) isn’t ranked among the 30 most popular stocks among hedge funds.
The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
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Disclosure: None. This article is originally published at Insider Monkey.
