Baron Asset Fund (BARAX)
- Facts & Characteristics
- Top Ten Holdings
- Portfolio Holdings
- Sector Breakdown
- Top Contributors & Detractors
Fund Description
Baron Asset Fund invests primarily in mid-sized growth companies.
Fund Resources
Andrew Peck discusses Baron Asset Fund
Other Videos:
Baron Asset Fund Investment Themes
Baron's Investment Approach
Importance of Research
Investment Process
Long-Term Investing
Latest Fact Sheets
Expanded Fact Sheet - Retail Shares
Facts & Characteristics as of March 31, 2013
| Inception Date | June 12, 1987 |
| Net Assets (All share classes combined as of 4/30/2013) | $2.34 billion |
| # of Equity Securities / % of Net Assets | 63/98.8% |
| Turnover (3 Year Average) | 15.69% |
| Median Market Cap | $6.99 billion |
| Weighted Average Market Cap | $9.38 billion |
| CUSIP | 068278100 |
| Expense Ratio (as of FYE 09/12)* | 1.33% |
| EPS Growth (3-5 year forecast)† | 16.6% |
| Price/Earnings Ratio (trailing 12-month)*† | 23.6 |
| Price/Book Ratio*† | 3.6 |
| Price/Sales Ratio*† | 2.6 |
Top Ten Holdings as of April 30, 2013
| Holding | Sector | Percentage* |
|---|---|---|
|
Gartner, Inc. (IT) is the leading independent provider of research and analysis on the information technology industry.
|
Information Technology | 4.3% |
|
Verisk Analytics, Inc. (VRSK) provides information about risk to companies in the insurance, healthcare, and mortgage industries. Verisk enables risk-bearing businesses to better understand and manage their risks.
|
Industrials | 3.9% |
|
SBA Communications Corp. (SBAC) is one of the largest owners of wireless towers in the U.S., and has a growing presence in Canada, Central America, and Brazil.
|
Telecommunication Services | 3.5% |
|
Arch Capital Group Ltd. (ACGL) writes insurance and reinsurance (insurance purchased from other insurers) through operations in Bermuda, the U.S., Europe and Canada.
|
Financials | 3.4% |
|
Ralph Lauren Corp. (RL) is a leading global lifestyle brand engaged in the design, marketing, and distribution of premium apparel and accessories.
|
Consumer Discretionary | 3.2% |
|
IDEXX Laboratories, Inc. (IDXX) is the leading provider of diagnostics to the veterinary industry.
|
Health Care | 3.1% |
|
Fastenal Co. (FAST) is a leading distributor of industrial supplies to manufacturers and contractors throughout North America. The company specializes in the sale of nuts, bolts, and threaded fasteners through a network of 2,600 branch based stores.
|
Industrials | 2.9% |
|
Discovery Communications, Inc. (DISCA) is a leading global cable network programming operator. Better known channels include Discovery Channel, Animal Planet, and The Learning Channel.
|
Consumer Discretionary | 2.8% |
|
The Charles Schwab Corp. (SCHW) is a premier discount brokerage firm offering securities brokerage and other financial services to individual investors directly as well as through independent financial advisors.
|
Financials | 2.7% |
|
Mettler-Toledo International, Inc. (MTD) is the world’s largest provider of weighing instruments for use in laboratory, industrial, and food retailing applications.
|
Health Care | 2.7% |
| Total | 32.5% | |
Portfolio Holdings as of March 31, 2013
| Holding | Sector | Market Cap ($Bn) | Percentage* |
|---|---|---|---|
| Gartner, Inc. | Information Technology | $5.080 | 4.1% |
| Verisk Analytics, Inc. | Industrials | $10.363 | 3.9% |
| SBA Communications Corp. | Telecommunication Services | $9.143 | 3.4% |
| Arch Capital Group Ltd. | Financials | $6.989 | 3.3% |
| IDEXX Laboratories, Inc. | Health Care | $5.043 | 3.2% |
| Fastenal Co. | Industrials | $15.232 | 3.1% |
| Ralph Lauren Corp. | Consumer Discretionary | $15.359 | 3.0% |
| Discovery Communications, Inc. | Consumer Discretionary | $18.457 | 2.9% |
| The Charles Schwab Corp. | Financials | $22.608 | 2.8% |
| Mettler-Toledo International, Inc. | Health Care | $6.462 | 2.7% |
| Vail Resorts, Inc. | Consumer Discretionary | $2.238 | 2.6% |
| ANSYS, Inc. | Information Technology | $7.567 | 2.5% |
| FleetCor Technologies, Inc. | Information Technology | $6.224 | 2.4% |
| Nielsen Holdings N.V. | Industrials | $12.998 | 2.4% |
| CBRE Group, Inc. | Financials | $8.349 | 2.3% |
| priceline.com, Inc. | Consumer Discretionary | $34.308 | 2.3% |
| Equinix, Inc. | Information Technology | $10.557 | 2.2% |
| FactSet Research Systems, Inc. | Information Technology | $4.092 | 2.1% |
| Wynn Resorts Ltd. | Consumer Discretionary | $12.639 | 2.0% |
| Colfax Corp. | Industrials | $4.378 | 1.9% |
| Hyatt Hotels Corp. | Consumer Discretionary | $7.006 | 1.9% |
| Roper Industries, Inc. | Industrials | $12.590 | 1.8% |
| LinkedIn Corp. | Information Technology | $19.200 | 1.6% |
| Airgas, Inc. | Materials | $7.528 | 1.5% |
| Dick's Sporting Goods, Inc. | Consumer Discretionary | $5.818 | 1.5% |
| Illumina, Inc. | Health Care | $6.698 | 1.5% |
| Stericycle, Inc. | Industrials | $9.141 | 1.5% |
| Tiffany & Co. | Consumer Discretionary | $8.816 | 1.5% |
| HomeAway, Inc. | Consumer Discretionary | $2.719 | 1.5% |
| Alexander's, Inc. | Financials | $1.683 | 1.4% |
| Choice Hotels International, Inc. | Consumer Discretionary | $2.471 | 1.4% |
| Core Laboratories N.V. | Energy | $6.376 | 1.4% |
| Henry Schein, Inc. | Health Care | $8.105 | 1.4% |
| CarMax, Inc. | Consumer Discretionary | $9.515 | 1.3% |
| Tractor Supply Co. | Consumer Discretionary | $7.207 | 1.3% |
| MRC Global, Inc. | Industrials | $3.345 | 1.3% |
| Cash & Cash Equivalents | Cash & Cash Equivalents | - | 1.2% |
| Helmerich & Payne, Inc. | Energy | $6.451 | 1.2% |
| MICROS Systems, Inc. | Information Technology | $3.611 | 1.2% |
| Pall Corp. | Industrials | $7.609 | 1.2% |
| C.H. Robinson Worldwide, Inc. | Industrials | $9.576 | 1.1% |
| Perrigo Co. | Health Care | $11.159 | 1.1% |
| VERISIGN, INC. | Information Technology | $7.213 | 1.1% |
| Concho Resources, Inc. | Energy | $10.198 | 1.1% |
| T. Rowe Price Group, Inc. | Financials | $19.305 | 1.0% |
| Windy City Investments Holdings, L.L.C. | Financials | - | 1.0% |
| IHS, Inc. | Industrials | $6.884 | 0.9% |
| Clean Harbors, Inc. | Industrials | $3.513 | 0.8% |
| Eaton Vance Corp. | Financials | $5.038 | 0.7% |
| Fossil, Inc. | Consumer Discretionary | $5.733 | 0.7% |
| First Republic Bank | Financials | $4.949 | 0.7% |
| Intuitive Surgical, Inc. | Health Care | $19.710 | 0.7% |
| United Natural Foods, Inc. | Consumer Staples | $2.426 | 0.6% |
| Norwegian Cruise Line Holdings, Ltd. | Consumer Discretionary | $6.049 | 0.6% |
| Liberty Media Corp. | Consumer Discretionary | $13.515 | 0.6% |
| Cerner Corp. | Health Care | $16.317 | 0.5% |
| Universal Health Services, Inc. | Health Care | $6.242 | 0.5% |
| Oil States International, Inc. | Energy | $4.476 | 0.5% |
| DeVry, Inc. | Consumer Discretionary | $2.006 | 0.4% |
| Kerzner International Holdings Ltd. | Consumer Discretionary | - | 0.4% |
| The Middleby Corp. | Industrials | $2.859 | 0.4% |
| Western Gas Equity Partners LP | Energy | $7.491 | 0.4% |
| Whiting Petroleum Corp. | Energy | $5.990 | 0.3% |
| Starz Liberty Capital, Inc. | Consumer Discretionary | $2.669 | 0.1% |
| Windy City Investments Holdings, L.L.C. | Financials | - | 0.1% |
| Total | 100.0% | ||
Sector Breakdown as of April 30, 2013
Back to TopTop Contributors & Detractors as of March 31, 2013
3 Months
| By Sub-Industry | ||
|---|---|---|
| Top Contributors | Average Weight | Contribution |
| Research & Consulting Services | 7.12% | 1.27% |
| IT Consulting & Other Services^ | 6.70% | 0.91% |
| Hotels, Resorts & Cruise Lines^ | 4.03% | 0.87% |
| Internet Retail | 3.84% | 0.86% |
| Data Processing and Outsourced Services | 2.08% | 0.78% |
| Top Detractors | Average Weight | Contribution |
| Air Freight & Logistics | 1.22% | -0.07% |
| Food Distributors | 0.31% | -0.05% |
| By Holdings | ||
|---|---|---|
| Top Contributors | Average Weight | Contribution |
| FleetCor Technologies, Inc. | 2.08% | 0.78% |
| Verisk Analytics, Inc. | 3.81% | 0.78% |
| Gartner, Inc. | 4.06% | 0.75% |
| Discovery Communications, Inc. | 2.82% | 0.65% |
| LinkedIn Corp. | 1.40% | 0.61% |
| Top Detractors | Average Weight | Contribution |
| Illumina, Inc. | 1.54% | -0.08% |
| C.H. Robinson Worldwide, Inc. | 1.22% | -0.07% |
| United Natural Foods, Inc. | 0.31% | -0.05% |
| Workday, Inc. | 0.03% | -0.01% |
12 Months
| By Sub-Industry | ||
|---|---|---|
| Top Contributors | Average Weight | Contribution |
| IT Consulting & Other Services^ | 7.68% | 2.58% |
| Research & Consulting Services | 6.19% | 1.67% |
| Broadcasting | 3.12% | 1.59% |
| Wireless Telecommunication Services | 3.70% | 1.58% |
| Data Processing and Outsourced Services | 1.53% | 1.36% |
| Top Detractors | Average Weight | Contribution |
| Oil & Gas Exploration & Production | 2.43% | -0.90% |
| Apparel, Accessories & Luxury Goods | 4.16% | -0.57% |
| Specialized Finance | 0.79% | -0.54% |
| Internet Retail | 4.10% | -0.46% |
| Oil & Gas Equipment & Services | 2.24% | -0.43% |
| By Holdings | ||
|---|---|---|
| Top Contributors | Average Weight | Contribution |
| SBA Communications Corp. | 3.70% | 1.58% |
| FleetCor Technologies, Inc. | 1.53% | 1.36% |
| Equinix, Inc. | 3.44% | 1.34% |
| Discovery Communications, Inc. | 2.53% | 1.30% |
| Gartner, Inc. | 4.24% | 1.24% |
| Top Detractors | Average Weight | Contribution |
| Netflix, Inc. | 0.23% | -0.62% |
| SM Energy Co. | 0.33% | -0.59% |
| MSCI, Inc. | 0.79% | -0.54% |
| CARBO Ceramics, Inc. | 0.27% | -0.44% |
| Fossil, Inc. | 1.11% | -0.42% |
Price/Book Ratio and Price/Sales Ratio are calculated using the Weighted Harmonic Average. Source: FactSet PA. Internal valuation metrics may differ.
*Top Ten Holdings, Portfolio Holdings, and Sector Breakdown based on net assets. Positions smaller than 0.05% round to 0.0%. Portfolio holdings may change over time.
Industry sector or sub-industry group levels are provided from the Global Industry Classification Standard ("GICS"), developed and exclusively owned by MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"), unless otherwise stated that they have been reclassified or classified by the Adviser. All GICS data is provided "as is" with no warranties.
^The Adviser has reclassified/classified certain securities in or out of this Sub-Industry. Such reclassifications/classifications are not supported by S&P or MSCI.
Top Contributors & Detractors Source: FactSet PA.
Definitions (provided by Baron Capital, Inc.): EPS Growth Rate (3-5 Year): indicates the long-term forecasted EPS growth of the companies in the portfolio, calculated using the weighted average of the available 3-to-5 year forecasted growth rates for each of the stocks in the portfolio provided by Factset Estimates. The EPS Growth rate does not forecast the Fund’s performance. Price/ Earnings Ratio (trailing 12-months): is is a valuation ratio of a company’s current share price compared to its actual earnings per share over the last twelve months. Price/Book Ratio: is a ratio used to compare a company’s stock price to its tangible assets, and it is calculated by dividing the current closing price of the stock by the latest quarter’s book value per share. Price/Sales Ratio: is a valuation ratio of a stock’s price relative to its past performance. It represents the amount an investor is willing to pay for a dollar generated from a particular company’s operations. Price/Sales is calculated by dividing a stock’s current price by its revenue per share for the last 12 months. Weighted Harmonic Average: is a calculation that reduces the impact of extreme observation on the aggregate calculation by weighting them based on their size in the fund.
One year turnover information to the most recent quarter and average market cap (unweighted) is available upon request.