We also added to our positions in Spotify Technology S.A. and Krispy Kreme, Inc. (DNUT, Financial). Both companies have large addressable markets with strong brands that should allow them to take significant market share over time. We believe they are both appropriately financed and should generate significant cash to continue investing in their businesses for further growth.
From Ron Baron (Trades, Portfolio)'s Baron Focused Growth Fund first-quarter 2022 letter.
