Hiroshi Watanabe/DigitalVision via Getty Images Dear Baron Fifth Avenue Growth Fund Shareholder: We had a great quarter. Baron Fifth Avenue Growth Fund® (the Fund) gained 24.9% (Institutional Shares) during the second quarter, which compares to gains of 17.8% for the Russell 1000 Growth Index (R1KG) and 10.9% for the S&P 500 Index (SPX), the Fund’s benchmarks. Year to date, the Fund is up 8.2%, compared to gains of 6.1% and 6.2% for the Fund’s benchmarks, respectively. Annualized performance (%) for per ...