The Charles Schwab Corp. (SCHW, Financial), a brokerage company, contributed to performance in the quarter. With over $600 billion of interest-earning assets, investors expect interest rate increases to lead to higher profits for Schwab. Additionally, Schwab continues to take market share and grow organically. We also think it will be able to cross-sell newly acquired products and drive synergistic cost reductions from its mid-2020 acquisition of TD Ameritrade. We believe Schwab will become more profitable and have a stickier customer base as it continues to expand its offerings.
From Ron Baron (Trades, Portfolio)'s Baron Partners Fund first-quarter 2022 commentary.
