Mobileye N.V. develops vision-based advanced driver assistance systems (ADAS). The shares declined 7% during the fourth quarter after short sellers publicly questioned the sustainability of the company’s competitive advantages. We believe Mobileye has a dominant market position due to its superior technology which is supported by the fact that it has design wins with 75% of the top car manufacturers in the world. We believe that time is on our side as more ADAS features become standard and Mobileye rolls out new autonomous capabilities, and we think Mobileye’s competitive advantages and its extremely attractive value proposition will become more apparent.
From Baron Funds' Global Advantage Fund letter for the fourth quarter 2015.
