Baron Opportunity Fund Q2 2026 Adds And Trims

The median market cap of the Fund was $90.4 billion, and the weighted-average market cap was $1.7 trillion. Near-term supply constraints and the resulting price increases are constructive for Micron's financials, but what interests us more is the structural evolution of the business itself. We believe that as Fervo proves out its first commercial plant, it will see accelerating contracting and deployment activity over the next decade.