Baron Asset Fund (BARIX)

Invest In Baron Funds Today

Fund Description

Baron Asset Fund invests primarily in mid-sized growth companies.

    

Facts & Characteristics as of March 31, 2014

Inception Date June 12, 1987
Net Assets (All share classes combined) $2.75 billion
# of Equity Securities / % of Net Assets 63/98.1%
Turnover (3 Year Average) 14.89%
Median Market Cap $7.71 billion
Weighted Average Market Cap $12.08 billion
CUSIP 068278605
Expense Ratio (as of FYE 09/13)* 1.05%
EPS Growth (3-5 year forecast) 16.7%
Price/Earnings Ratio (trailing 12-month) 26.5
Price/Book Ratio 3.9
Price/Sales Ratio 2.8

Top Ten Holdings as of March 31, 2014

Download Attribution Analysis
Holding Sector Percentage*
Gartner, Inc. (IT) is the leading independent provider of research and analysis on the information technology industry.
Information Technology 4.2%
IDEXX Laboratories, Inc. (IDXX) is the leading provider of diagnostics to the veterinary industry.
Health Care 3.8%
Illumina, Inc. (ILMN) develops and commercializes tools and services for genetic analysis. The company is the recognized leader in next generation DNA sequencing platforms. 
Health Care 3.2%
Arch Capital Group Ltd. (ACGL) is a specialty insurance and reinsurance company with operations in Bermuda, the U.S., Europe, and Canada.
Financials 3.0%
priceline.com, Inc. (PCLN) is a leading global online travel agent, with particular strength in international travel and hotel bookings. The company’s brands include priceline.com, Booking.com, CarRentals.com, and Agoda.com. 
Consumer Discretionary 3.0%
Wynn Resorts Ltd. (WYNN)  is a leading company in the gaming industry with properties in Las Vegas and a majority ownership of Wynn Macau Ltd., which is developing land on the Cotai Strip with an expected opening in early 2016.  
Consumer Discretionary 3.0%
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 3.0%
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 2.9%
SBA Communications Corp. (SBAC) is the third largest independent owner of wireless towers in the U.S. and has a growing presence in Canada, Central America, and Brazil. SBA owns and operates approximately 20,000 towers in total.
Telecommunication Services 2.8%
FleetCor Technologies, Inc. (FLT) provides payment products and services to vehicle fleets around the world. The company's services enable businesses to better manage and control employee spending.
Information Technology 2.7%
Total 31.6%
Back to Top

Portfolio Holdings as of March 31, 2014

Holding Sector Market Cap ($Bn) Percentage*
Gartner, Inc. Information Technology $6.386 4.2%
IDEXX Laboratories, Inc. Health Care $6.253 3.8%
Illumina, Inc. Health Care $19.058 3.2%
Arch Capital Group Ltd. Financials $7.713 3.0%
priceline.com, Inc. Consumer Discretionary $62.148 3.0%
Wynn Resorts Ltd. Consumer Discretionary $22.494 3.0%
Verisk Analytics, Inc. Industrials $10.004 3.0%
The Charles Schwab Corp. Financials $35.542 2.9%
SBA Communications Corp. Telecommunication Services $11.712 2.8%
FleetCor Technologies, Inc. Information Technology $9.493 2.7%
Colfax Corp. Industrials $8.810 2.5%
Vail Resorts, Inc. Consumer Discretionary $2.519 2.5%
Mettler-Toledo International, Inc. Health Care $6.909 2.4%
Nielsen Holdings N.V. Industrials $16.909 2.4%
CBRE Group, Inc. Financials $9.106 2.1%
Fastenal Co. Industrials $14.631 2.1%
FactSet Research Systems, Inc. Information Technology $4.571 2.1%
Discovery Communications, Inc. Consumer Discretionary $28.245 2.0%
Ralph Lauren Corp. Consumer Discretionary $14.539 2.0%
ANSYS, Inc. Information Technology $7.127 2.0%
Hyatt Hotels Corp. Consumer Discretionary $8.425 2.0%
Cash & Cash Equivalents Cash & Cash Equivalents - 1.9%
Helmerich & Payne, Inc. Energy $11.566 1.8%
Core Laboratories N.V. Energy $8.903 1.7%
Pall Corp. Industrials $9.822 1.7%
Dick's Sporting Goods, Inc. Consumer Discretionary $6.869 1.6%
Tiffany & Co. Consumer Discretionary $11.031 1.6%
Henry Schein, Inc. Health Care $10.199 1.5%
Tractor Supply Co. Consumer Discretionary $9.798 1.5%
The Middleby Corp. Industrials $5.085 1.4%
Roper Industries, Inc. Industrials $13.291 1.4%
HomeAway, Inc. Consumer Discretionary $3.481 1.4%
Choice Hotels International, Inc. Consumer Discretionary $2.682 1.3%
CarMax, Inc. Consumer Discretionary $10.447 1.3%
Guidewire Software, Inc. Information Technology $3.333 1.3%
Alexander's, Inc. Financials $1.843 1.2%
Verisign, Inc. Information Technology $7.206 1.2%
Westinghouse Air Brake Technologies Corporation Industrials $7.440 1.2%
Concho Resources, Inc. Energy $12.882 1.2%
LinkedIn Corp. Information Technology $22.083 1.2%
COOPER COMPANIES INC Health Care $6.574 1.1%
Universal Health Services, Inc. Health Care $8.087 1.1%
Equinix, Inc. Information Technology $9.132 1.0%
Stericycle, Inc. Industrials $9.676 1.0%
T. Rowe Price Group, Inc. Financials $21.624 1.0%
First Republic Bank Financials $7.393 0.9%
Windy City Investments Holdings, L.L.C. Financials - 0.8%
MRC Global, Inc. Industrials $2.755 0.8%
Artisan Partners Asset Management Inc. Financials $1.872 0.8%
Phillips 66 Partners LP Energy $3.421 0.8%
Airgas, Inc. Materials $7.878 0.7%
Fossil Group, Inc. Consumer Discretionary $6.296 0.7%
United Natural Foods, Inc. Consumer Staples $3.519 0.7%
Medidata Solutions, Inc. Health Care $2.944 0.6%
Norwegian Cruise Line Holdings, Ltd. Consumer Discretionary $6.621 0.6%
Quintiles Transnational Holdings, Inc. Health Care $6.596 0.6%
AO plc Consumer Discretionary $2.204 0.6%
Cerner Corp. Health Care $19.347 0.5%
Clean Harbors, Inc. Industrials $3.327 0.5%
DeVry Education Group Inc. Consumer Discretionary $2.685 0.5%
Oil States International, Inc. Energy $5.259 0.5%
Shutterstock, Inc. Information Technology $2.547 0.4%
Western Gas Equity Partners LP Energy $10.750 0.3%
Sprouts Farmers Markets, Inc. Consumer Staples $5.324 0.3%
Windy City Investments Holdings, L.L.C. Financials - 0.1%
Total 100.0%
Back to Top

Sector Breakdown as of March 31, 2014

Sector Sub-Industry Percentage*
Cash & Cash Equivalents
1.9%
Consumer Discretionary
  • Internet Retail 5.0%
  • Specialty Stores 4.7%
  • Hotels, Resorts & Cruise Lines 3.9%
  • Casinos & Gaming 3.0%
  • Apparel, Accessories & Luxury Goods 2.7%
  • Leisure Facilities 2.5%
  • Broadcasting 2.0%
  • Automotive Retail 1.3%
  • Education Services 0.5%
25.8%
Consumer Staples
  • Food Distributors 0.7%
  • Food Retail 0.3%
1.1%
Energy
  • Oil & Gas Equipment & Services 2.2%
  • Oil & Gas Drilling 1.8%
  • Oil & Gas Exploration & Production 1.2%
  • Oil & Gas Storage & Transportation 1.1%
6.3%
Financials
  • Property & Casualty Insurance 3.0%
  • Investment Banking & Brokerage 2.9%
  • Asset Management & Custody Banks 2.7%
  • Real Estate Services 2.2%
  • Office REITs^ 1.2%
  • Regional Banks 0.9%
12.8%
Health Care
  • Life Sciences Tools & Services 6.1%
  • Health Care Equipment 3.8%
  • Health Care Distributors 1.5%
  • Health Care Supplies 1.1%
  • Health Care Facilities 1.1%
  • Health Care Technology 1.1%
14.7%
Industrials
  • Industrial Machinery 5.6%
  • Research & Consulting Services 5.4%
  • Trading Companies & Distributors 2.9%
  • Environmental & Facilities Services 1.5%
  • Electrical Components & Equipment 1.4%
  • Construction Machinery & Heavy Trucks 1.2%
17.9%
Information Technology
  • Application Software 5.4%
  • IT Consulting & Other Services^ 5.2%
  • Internet Software & Services^ 2.8%
  • Data Processing and Outsourced Services 2.7%
16.0%
Materials
  • Industrial Gases 0.7%
0.7%
Telecommunication Services
  • Wireless Telecommunication Services 2.8%
2.8%
Back to Top

Top Contributors & Detractors as of March 31, 2014

3 Months | 12 Months Download Qtr-end GICS Sub-Industry Breakdown (Inst Shares)

3 Months

By Sub-Industry
Top Contributors Average Weight Contribution
Life Sciences Tools & Services 6.33% 0.96%
Health Care Equipment 3.67% 0.49%
Industrial Machinery 5.30% 0.49%
Casinos & Gaming 2.99% 0.42%
Oil & Gas Drilling 1.51% 0.39%
Top Detractors Average Weight Contribution
Internet Software & Services^ 3.11% -0.42%
Specialty Stores 4.70% -0.39%
Research & Consulting Services 5.55% -0.34%
Broadcasting 2.45% -0.31%
Application Software 5.40% -0.27%
By Holdings
Top Contributors Average Weight Contribution
Illumina, Inc. 3.34% 0.96%
IDEXX Laboratories, Inc. 3.67% 0.49%
Wynn Resorts Ltd. 2.99% 0.42%
Helmerich & Payne, Inc. 1.51% 0.39%
Colfax Corp. 2.30% 0.27%
Top Detractors Average Weight Contribution
Verisk Analytics, Inc. 3.14% -0.29%
ANSYS, Inc. 2.06% -0.25%
Discovery Communications, Inc. 2.24% -0.24%
Ralph Lauren Corp. 2.24% -0.23%
LinkedIn Corp. 1.35% -0.21%

12 Months

By Sub-Industry
Top Contributors Average Weight Contribution
Life Sciences Tools & Services 5.24% 3.01%
Internet Retail 4.39% 2.19%
Industrial Machinery 4.67% 2.11%
Casinos & Gaming 2.41% 1.63%
Investment Banking & Brokerage 2.90% 1.48%
Top Detractors Average Weight Contribution
Trading Companies & Distributors 3.43% -0.41%
Metal & Glass Containers 0.10% -0.07%
Air Freight & Logistics 0.89% -0.06%
By Holdings
Top Contributors Average Weight Contribution
Illumina, Inc. 2.38% 2.63%
priceline.com, Inc. 2.77% 1.64%
Wynn Resorts Ltd. 2.41% 1.63%
The Charles Schwab Corp. 2.90% 1.48%
FleetCor Technologies, Inc. 2.83% 1.31%
Top Detractors Average Weight Contribution
Equinix, Inc. 1.30% -0.32%
MRC Global, Inc. 1.10% -0.25%
Fastenal Co. 2.33% -0.16%
Intuitive Surgical, Inc. 0.28% -0.16%
ANSYS, Inc. 2.25% -0.11%
Back to Top

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 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 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.