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Baron Small Cap Fund says Vertiv is key to its Q2 tech transition view
The fund gained 12.6% in Q2 2026, and Vertiv Holdings contributed 2.66% to that performance, with Vertiv shares up 114.9% over 52 weeks.
Baron Small Cap Fund reported Q2 2026 performance in an investor letter, saying the fund gained 12.57% in the quarter on institutional shares, versus 25.71% for the Russell 2000 Growth Index.
The letter highlighted that U.S. equities rebounded after a March selloff tied to the U.S.-Iran conflict, with AI infrastructure, semiconductors, and other technology stocks driving much of the market’s gains. It said small caps outperformed large caps, but results remained concentrated in high-beta and momentum areas where the fund has historically had less exposure.
Baron Small Cap Fund said Vertiv Holdings Co, NYSE: VRT, contributed 2.66% to performance during the quarter. It described Vertiv as a provider of critical infrastructure solutions for data centers, communication networks, and commercial and industrial environments, noting Vertiv closed at $292.43 a share on August 17, 2026.
According to the investor letter, Vertiv has a market capitalization of $112.58 billion, with a one-month return of -8.92% and a 114.91% gain over the past 52 weeks. It added that Vertiv’s shares rose in the quarter after the company reported strong Q1 results, including an 83% year-over-year increase in adjusted earnings per share, and said Vertiv increased fiscal-year guidance alongside organic sales growth of around 30%.
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