Baron Funds released its “Baron Real Estate Fund” second-quarter 2025 investor letter, with a 3.61% rise in the quarter for Institutional Shares compared to MSCI US REIT Index’s 1.46% decline and MSCI USA IMI Extended Real Estate Index’s 6.13% gain. Download the letter for the fund’s top five holdings for 2025.

In its second-quarter 2025 investor letter, Baron Real Estate Fund highlighted American Tower Corporation (NYSE: AMT), a leading independent multitenant communications real estate operator. AMT’s one-month return was -4.35%, and its stock closed at $212.10 on August 1, 2025, with a market cap of $99.316 billion.

Baron Real Estate Fund stated in its letter that American Tower Corporation (NYSE: AMT) was one of the top purchases early in the first quarter, with optimism for its long-term growth prospects. The company owns 150,000 wireless tower communication sites, emphasizing developed markets and future growth opportunities in mobile data usage, 5G deployment, edge computing, and Internet of Things devices.

American Tower Corporation (AMT) is seen as a strong buy in 2025 due to its dividend strength and valuation. While 73 hedge fund portfolios held AMT at the end of the first quarter, some believe other AI stocks offer greater upside potential and less downside risk. Investors seeking an undervalued AI stock can explore a free report on the best short-term AI stock.

Read more at Yahoo Finance: Baron Real Estate Fund Trimmed American Tower Corporation (AMT) to Manage the Position Size