Baron Funds, an investment management company, released its “Baron Discovery Fund” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. Year-to-date, the fund was up 10.75% (Institutional Shares), compared to a 11.65% return for the Russell 2000 Growth Index. The fund was up 2.85% in the third quarter, lagging behind the Index’s 12.19% return. In addition, please check the fund’s top five holdings to know its best picks in 2025.
In its third-quarter 2025 investor letter, Baron Discovery Fund highlighted stocks such as Primo Brands Corporation (NYSE:PRMB). Primo Brands Corporation (NYSE:PRMB) is a branded beverage company. The one-month return of Primo Brands Corporation (NYSE:PRMB) was -2.41%, and its shares lost 18.03% of their value over the last 52 weeks. On October 29, 2025, Primo Brands Corporation (NYSE:PRMB) stock closed at $21.50 per share, with a market capitalization of $8.031 billion.
Baron Discovery Fund stated the following regarding Primo Brands Corporation (NYSE:PRMB) in its third quarter 2025 investor letter:
“During the quarter, we established a new position in Primo Brands Corporation (NYSE:PRMB). Primo Brands owns the leading bottled spring water brands and the nation’s largest home and office water delivery service. The company was formed through the November 2024 combination of Primo Water and Blue Triton Brands. Primo Brands is fully vertically integrated. It owns or leases water supply (springs and municipal water sources), treats the water, bottles it, transports it to hubs, and distributes it last-mile to retail or the home. Primo Brands goes to market with 13 different brands. It has 7 brands that are over 100 years old, and 4 that date back to the 1800s. Primo Brands also owns high growth premium brands such as Saratoga and Mountain Valley Springs.
5 Highest Quality Bottled Water Brands in The US
Artem Varnitsin/Shutterstock.com
Primo Brands Corporation (NYSE:PRMB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 72 hedge fund…
..
