Shares of LKQ Corp. (LKQ, Financial), a seller and distributor of alternative vehicle parts, fell in the first quarter after a critical report recommended investors sell the security. The report made assertions which we believe are untrue. LKQ continues to take share in the growing domestic alternative parts market and enter ancillary lines of business with existing customers. Additionally, it is gaining traction in providing these same services internationally. Baron Growth Fund has earned about four times its money in the past seven years. (Michael Baron
From Baron Funds' first quarter 2014 letter to investors.
