Shares of CoStar Group, Inc. (CSGP, Financial), a real estate information and marketing services company, contributed to performance as markets rallied and financial results were better than investors feared. CoStar has seen an acceleration in its digital marketplace businesses as traditionally offline activities are increasingly shifting online. This growth was partially offset by slower trends in its commercial real estate data licensing businesses. We believe CoStar’s revenue streams are well diversified, its contracts are sticky, and its competitors are under-managed and under-capitalized.
From Ron Baron (Trades, Portfolio)'s Baron Focused Growth Fund second-quarter 2020 shareholder letter.
Also check out:
