Group 1: Fund Performance - Baron Fifth Avenue Growth Fund gained 5.7% in Q3 2025, underperforming the Russell 1000 Growth Index's 10.5% gain and the S&P 500 Index's 8.1% return [1] - Year-to-date, the fund is up 14.4%, compared to 17.2% for the Russell 1000 Growth Index and 14.8% for the S&P 500 Index [1] Group 2: Figma, Inc. Overview - Figma, Inc. is a leading technology company that provides a browser-based tool for designing user interfaces, with a market capitalization of $17.688 billion as of December 1, 2025 [2] - The stock experienced a one-month return of -22.09% and a three-month decline of 45.57% [2] Group 3: Investment Position in Figma, Inc. - The fund initiated a small position in Figma, Inc., which offers a collaborative platform for both designers and non-designers to enhance user interface design and overall customer satisfaction [3] - Figma's revenue for Q3 2025 was $274 million, reflecting a 38% increase from Q3 2024 [4] - Despite recognizing Figma's potential, the fund suggests that certain AI stocks may offer greater upside potential and lower downside risk [4] Group 4: Hedge Fund Interest - Figma, Inc. was held by 38 hedge fund portfolios at the end of Q3 2025, a significant increase from zero in the previous quarter [4]
What Makes Figma (FIG) a Good Investment Choice?