Baron Funds, an investment management company, released its “Baron Real Estate Fund” first quarter 2025 investor letter. A copy of the letter can be downloaded here. In Q1 2025, stocks were sold due to economic growth slowdown, inflation, and policymaking issues, including Baron Real Estate Fund®, without considering value. The fund declined 6.69% (Institutional Shares) in the quarter compared to a 3.11% decline for the MSCI USA IMI Extended Real Estate Index (the MSCI Real Estate Index) and a 0.76% gain for the MSCI US REIT Index (the REIT Index). In addition, please check the fund’s top five holdings to know its best picks in 2025.

In its first-quarter 2025 investor letter, Baron Real Estate Fund highlighted stocks such as Wynn Resorts, Limited (NASDAQ:WYNN). Wynn Resorts, Limited (NASDAQ:WYNN) owns and operates resorts that operates through Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor segments. The one-month return of Wynn Resorts, Limited (NASDAQ:WYNN) was 30.39%, and its shares gained 0.39% of their value over the last 52 weeks. On May 14, 2025, Wynn Resorts, Limited (NASDAQ:WYNN) stock closed at $97.49 per share with a market capitalization of $10.19 billion.

Baron Real Estate Fund stated the following regarding Wynn Resorts, Limited (NASDAQ:WYNN) in its Q1 2025 investor letter:

“Wynn Resorts, Limited (NASDAQ:WYNN) is the preeminent luxury global owner and operator of integrated resorts (hotels and casino resorts). We are bullish on the prospects for the company’s development of the Wynn Al Marjan Island in the UAE (expected to open early in 2027). We believe the UAE is the most exciting new market for integrated resort developments in decades.