ITC Holdings Corp. (ITCC, Financial) is the nation’s largest independent transmission company. Shares rose due to the relatively strong performance of the electric utility sub-industry as investors rotated away from risk in the broader stock market. We believe ITC has robust prospects for growth and will continue to execute on its growth strategy. The primary drivers for transmission investment, reliability and connection of new generation (including renewables), remain intact, and we believe ITC is well positioned to benefit from these trends. (Rebecca Ellin)
From Baron Funds' Baron Partners Fund shareholder letter for Q3 2015.
