Agrinos AS (AALYF, Financial) declined 46.3% in the quarter. Agrinos is a green technology company with a unique, microbial product that enhances crop yields. The company's stock price performance in the quarter was weak because a delay in receivables collection led to a change in accounting policy, with no revenue booked for Mexico in the fourth quarter. We continue to believe Agrinos has disruptive technology and exciting long-term growth prospects. (Catherine Chen)
From Baron Funds’ first quarter 2013 letter.
From Baron Funds’ first quarter 2013 letter.
