The fund sold TECH amid concerns over artificial intelligence’s potential impact on life sciences, citing sector overexposure in Q1 2026.
Baron Asset Fund exited its position in Bio-Techne Corporation (NASDAQ:TECH) during Q1 2026, citing concerns over AI-driven disruption in the life sciences sector. The fund’s institutional shares fell 7.81% for the quarter, underperforming the Russell Midcap Growth Index’s 6.35% decline.
Performance was pressured by overexposure to software and services, alongside underexposure to energy. TECH shares closed at $44.89 on May 13, 2026, down 21.74% over the past month and 6.94% over 52 weeks, with a market capitalization of $7.03 billion.
The fund remains optimistic about its high-quality holdings but adjusted positions to mitigate perceived AI threats to the sector.