Baron Funds Comments on Clean Harbors Inc

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Jul 22, 2014

Clean Harbors, Inc. (CLH), and Waste Connections, Inc. (WCN), are two examples of classic growth stocks in the portfolio. Clean Harbors is a leading provider of environmental and hazardous waste management services. In addition to its market leadership position, it has many attributes we like, including a stable and recurring revenue base, and high barriers to entry created by permitting and regulatory hurdles and the high capital cost of waste management facilities. … We have held these two stocks for seven and five years, respectively, during which periods our investments have more than doubled.

From Baron Funds' Second Quarter 2014 Shareholder Letter.