B
aron Funds, a leading investment management company, has released its fourth quarter 2024 investor letter for the Baron Real Estate Fund. The fund's performance outpaced major real estate indexes in both the full year and the fourth quarter. In 2024, the Baron Real Estate Fund returned 12.46% (Institutional Shares), surpassing the MSCI US REIT Index's 7.49% return and the MSCI USA IMI Extended Real Estate Index's 12.70%. However, in Q4, the fund declined by 2.98%, a smaller drop than the 6.39% decline of the MSCI US REIT Index and the 4.69% decline of the MSCI USA IMI Extended Real Estate Index.

    The Baron Real Estate Fund highlighted Kilroy Realty Corporation (NYSE:KRC) as one of its key holdings in its Q4 2024 investor letter. As a leading U.S. landlord and developer, Kilroy Realty Corporation owns high-quality office properties on the West Coast, including San Francisco, Los Angeles, Seattle, and San Diego. The company also has a presence in Austin, Texas.

    In the fourth quarter, Baron Real Estate Fund initiated a position in Kilroy Realty Corporation (NYSE:KRC), citing its strong portfolio of office properties concentrated in key U.S. markets.