While Baker said he could not give any specifics about what he has been doing to upgrade the portfolio, as he put it, he did sound confident about the long-term trajectory of his biggest bets.
On a recent plane ride to California, the Boston-based manager said he re-read earnings call transcripts to see if he was missing any fundamental changes among his favorite names.
"It's beyond absurd to rethink the five to 10 year outlook for e-commerce," Baker said. "Amazon had a great quarter. Macy's and Wal Mart are closing stores."
And he does not seem to be flinching about his holdings in software-as-a-service companies such as Salesforce.com Inc. The company accounted for 1.24 percent of Baker's portfolio at the end of December, fund disclosures show.
"Some of these names are down 35 percent to 50 percent," Baker said. "But those price movements feel very divorced from the underlying fundamentals of these companies."