Mike Lippert's fund has returned 33% so far in 2023 by betting on AI stocks. He shares 3 companies in the industry he thinks will deliver the biggest returns over the next 5 years.
This year, the fund is up 33% thanks in large part to investor interest in AI.Around the end of 2022,Many of the high-growth stocks Lippert puts into the fund he has managed since 2006 — the Baron Opportunity Fund — were likely due for a turnaround at some point after the 2022 bear market largely brought down valuations.
Right around the same time, interest in artificial intelligence soared, and investors piled into those two names, among others. "When the market went back to being focused on, in a sense, digital transformation, maybe this AI theme, we were honestly just very, very well positioned," he continued."We came into the year with Microsoft as the largest position and if NVIDIA wasn't the second-biggest position, it was a very large position."
But success is nothing new for Lippert and the Baron Opportunity Fund. Over the last 5 years, it's beaten 96% of similar funds, and 92% over the last 10 years.
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