Baron Growth Fund (BGRFX)

Invest In Baron Funds Today

Fund Description

Baron Growth Fund invests primarily in small growth companies.

   

  

Facts & Characteristics as of September 30, 2016

Inception Date December 31, 1994
Net Assets (All share classes combined) $5.96 billion
# of Equity Securities / % of Net Assets 61/99.8%
Turnover (3 Year Average) 8.26%
Median Market Cap $2.73 billion
Weighted Average Market Cap $5.79 billion
CUSIP 068278209
Expense Ratio (as of FYE 09/15)* 1.29%
EPS Growth (3-5 year forecast) 13.1%
Price/Earnings Ratio (trailing 12-month) 29.1
Price/Book Ratio 3.5
Price/Sales Ratio 2.2

Top Ten Holdings as of October 31, 2016

Holding Sector Percentage*
Vail Resorts, Inc. (MTN) is the largest operator of ski resorts in the U.S. It owns and operates 13 ski resorts in Vail, Breckenridge, Keystone, and Beaver Creek in Colorado; Canyons and Park City in Utah; Heavenly, Northstar, and Kirkland in Lake Tahoe, Perisher in Australia and three U.S. regional resorts.
Consumer Discretionary 6.2%
Arch Capital Group Ltd. (ACGL) is a specialty insurance and reinsurance company with operations in Bermuda, the U.S., Europe, and Canada.
Financials 5.4%
FactSet Research Systems, Inc. (FDS) provides financial information to the global investment community.
Financials 4.4%
Gartner, Inc. (IT) is the leading independent provider of research and analysis on the information technology industry.
Information Technology 4.3%
Under Armour, Inc. (UA) is a leading designer, developer, marketer, and distributor of athletic and performance apparel.
Consumer Discretionary 3.5%
IDEXX Laboratories, Inc. (IDXX) is the leading provider of diagnostics to the veterinary industry.
Health Care 3.4%
SS&C Technologies, Inc. (SSNC) is a leading provider of mission-critical software products and services for the financial services industry.
Information Technology 3.4%
CoStar Group, Inc. (CSGP) is the leading provider of information and marketing services to the commercial real estate industry.
Information Technology 3.3%
Gaming and Leisure Properties, Inc. (GLPI) holds all of the real property interests related to the gaming operations of Penn National Gaming and Pinnacle Entertainment, as well as the Casino Queen in Illinois. It also has full ownership of and operates Penn’s Baton Rouge and Maryland casinos.
Real Estate 3.3%
MSCI, Inc. (MSCI) provides investment-decision support tools to global investment institutions.
Financials 3.1%
Total 40.3%
Back to Top

Portfolio Holdings as of October 31, 2016

Holding Sector Market Cap ($Bn) Percentage*
Vail Resorts, Inc. Consumer Discretionary $5.786 6.2%
Arch Capital Group Ltd. Financials $9.557 5.4%
FactSet Research Systems, Inc. Financials $6.179 4.4%
Gartner, Inc. Information Technology $7.109 4.3%
IDEXX Laboratories, Inc. Health Care $9.593 3.4%
SS&C Technologies Holdings, Inc. Information Technology $6.422 3.4%
CoStar Group, Inc. Information Technology $6.099 3.3%
Gaming and Leisure Properties, Inc. Real Estate $6.734 3.3%
MSCI, Inc. Financials $7.548 3.1%
ANSYS, Inc. Information Technology $7.967 3.0%
MAXIMUS, Inc. Information Technology $3.378 2.8%
Choice Hotels International, Inc. Consumer Discretionary $2.718 2.6%
Bright Horizons Family Solutions, Inc. Consumer Discretionary $3.939 2.6%
Douglas Emmett, Inc. Real Estate $5.513 2.4%
The Middleby Corp. Industrials $6.451 2.4%
Primerica, Inc. Financials $2.542 2.4%
Church & Dwight Co., Inc. Consumer Staples $12.432 2.1%
Dick's Sporting Goods, Inc. Consumer Discretionary $6.284 2.0%
Under Armour, Inc. Consumer Discretionary $12.360 1.9%
Bio-Techne Corporation Health Care $3.879 1.8%
Marriott Vacations Worldwide Corp. Consumer Discretionary $1.717 1.8%
Mettler-Toledo International, Inc. Health Care $10.704 1.7%
Under Armour, Inc. CL C Consumer Discretionary $12.360 1.6%
Morningstar, Inc. Financials $3.041 1.5%
Panera Bread Co. Consumer Discretionary $4.429 1.5%
Manchester United plc Consumer Discretionary $2.510 1.5%
Masonite International Corp. Industrials $1.740 1.5%
Alexandria Real Estate Equities, Inc. Real Estate $8.406 1.4%
Cohen & Steers, Inc. Financials $1.706 1.4%
West Pharmaceutical Services, Inc. Health Care $5.564 1.4%
Caesarstone Ltd. Industrials $1.244 1.3%
Benefitfocus, Inc. Information Technology $0.964 1.3%
Inovalon Holdings, Inc. Cl A Health Care $2.073 1.3%
TreeHouse Foods, Inc. Consumer Staples $4.962 1.2%
Guidewire Software, Inc. Information Technology $4.223 1.2%
Financial Engines, Inc. Financials $1.708 1.1%
Iridium Communications Inc. Telecommunication Services $0.781 1.1%
Booz Allen Hamilton Holding Corp. Information Technology $4.526 1.1%
Trex Company, Inc. Industrials $1.579 1.1%
Oaktree Capital Group, LLC Financials $2.603 1.1%
Nord Anglia Education Inc. Consumer Discretionary $2.242 1.0%
Alexander's, Inc. Real Estate $1.962 0.9%
Penn National Gaming, Inc. Consumer Discretionary $1.078 0.9%
Littelfuse, Inc. Information Technology $3.132 0.7%
Pegasystems, Inc. Information Technology $2.357 0.7%
Smart & Final Stores, Inc. Consumer Staples $0.887 0.7%
Red Rock Resorts, Inc. Class A Consumer Discretionary $2.538 0.6%
Pinnacle Entertainment, Inc. Consumer Discretionary $0.677 0.6%
Performance Food Group Company Consumer Staples $2.482 0.5%
American Assets Trust, Inc. Real Estate $1.803 0.5%
Air Lease Corp. Industrials $3.112 0.5%
The Carlyle Group Financials $1.261 0.4%
AO World plc Consumer Discretionary $0.812 0.4%
Moelis & Company Financials $1.382 0.4%
Neogen Corp. Health Care $1.987 0.3%
Essent Group Ltd. Financials $2.462 0.2%
ClubCorp Holdings, Inc. Consumer Discretionary $0.757 0.2%
Iridium Communications Inc. - Pfd Telecommunication Services $0.781 0.2%
Virtu Financial, Inc. Class A Financials $1.791 0.2%
Juno Therapeutics, Inc. Health Care $2.569 0.1%
Hudson's Bay Co. Consumer Discretionary $2.239 0.1%
Windy City Investments Holdings, L.L.C. Financials - 0.0%
Windy City Investments Holdings, L.L.C.-2 Financials - 0.0%
Total 100.0%
Back to Top

Sector Breakdown as of October 31, 2016

Sector Sub-Industry Percentage*
Consumer Discretionary
  • Leisure Facilities 6.4%
  • Hotels, Resorts & Cruise Lines 4.4%
  • Education Services 3.6%
  • Apparel, Accessories & Luxury Goods 3.5%
  • Casinos & Gaming 2.1%
  • Specialty Stores 2.0%
  • Restaurants 1.5%
  • Movies & Entertainment 1.5%
  • Internet & Direct Marketing Retail 0.4%
  • Department Stores 0.1%
25.5%
Consumer Staples
  • Household Products 2.1%
  • Packaged Foods & Meats 1.2%
  • Food Retail 0.6%
  • Food Distributors 0.5%
4.4%
Financials
  • Financial Exchanges & Data 9.0%
  • Property & Casualty Insurance 5.4%
  • Asset Management & Custody Banks 4.0%
  • Life & Health Insurance 2.4%
  • Investment Banking & Brokerage 0.5%
  • Thrifts & Mortgage Finance 0.2%
21.6%
Health Care
  • Life Sciences Tools & Services 3.5%
  • Health Care Equipment 3.4%
  • Health Care Supplies 1.7%
  • Health Care Technology 1.3%
  • Biotechnology 0.1%
10.0%
Industrials
  • Building Products 3.9%
  • Industrial Machinery 2.4%
  • Trading Companies & Distributors 0.5%
6.8%
Information Technology
  • Application Software 8.4%
  • IT Consulting & Other Services 5.4%
  • Internet Software & Services 4.7%
  • Data Processing and Outsourced Services 2.8%
  • Electronic Components 0.7%
21.9%
Real Estate
  • Specialized REITs^ 4.7%
  • Office REITs^ 3.3%
  • Diversified REITs 0.5%
8.5%
Telecommunication Services
  • Alternative Carriers 1.3%
1.3%
Back to Top

Top Contributors & Detractors as of September 30, 2016

3 Months | 12 Months

3 Months

By Sub-Industry
Top Contributors Average Weight Contribution
Specialized Finance 6.33% 1.03%
Leisure Facilities 5.95% 0.87%
Health Care Equipment 3.09% 0.59%
Application Software 7.95% 0.49%
Property & Casualty Insurance 4.87% 0.44%
Top Detractors Average Weight Contribution
Financial Exchanges & Data 2.85% -0.79%
IT Consulting & Other Services 5.49% -0.32%
Health Care Technology 1.48% -0.29%
Apparel, Accessories & Luxury Goods 4.40% -0.22%
Packaged Foods & Meats 1.19% -0.18%
By Holdings
Top Contributors Average Weight Contribution
Vail Resorts, Inc. 5.13% 0.62%
IDEXX Laboratories, Inc. 3.09% 0.59%
Arch Capital Group Ltd. 4.87% 0.44%
SS&C Technologies Holdings, Inc. 3.14% 0.41%
Dick's Sporting Goods, Inc. 1.79% 0.38%
Top Detractors Average Weight Contribution
Gartner, Inc. 4.33% -0.40%
Inovalon Holdings, Inc. 1.48% -0.29%
Under Armour, Inc. 4.40% -0.22%
Primerica, Inc. 2.44% -0.18%
TreeHouse Foods, Inc. 1.19% -0.18%

12 Months

By Sub-Industry
Top Contributors Average Weight Contribution
Leisure Facilities 5.10% 1.98%
Specialized Finance 7.18% 1.43%
Life Sciences Tools & Services 3.40% 1.02%
Internet Software & Services 4.49% 0.93%
Building Products 3.72% 0.88%
Top Detractors Average Weight Contribution
Apparel, Accessories & Luxury Goods 4.62% -1.19%
Financial Exchanges & Data 0.72% -0.78%
Health Care Facilities 0.25% -0.74%
Health Care Technology 1.25% -0.35%
Food Distributors 0.81% -0.24%
By Holdings
Top Contributors Average Weight Contribution
Vail Resorts, Inc. 4.38% 1.85%
IDEXX Laboratories, Inc. 2.42% 1.21%
MSCI, Inc. 2.57% 0.91%
Mettler-Toledo International, Inc. 1.88% 0.69%
Cohen & Steers, Inc. 1.25% 0.65%
Top Detractors Average Weight Contribution
Under Armour, Inc. 4.62% -1.19%
Community Health Systems, Inc. 0.25% -0.74%
ConforMIS, Inc. 0.33% -0.62%
Inovalon Holdings, Inc. 1.25% -0.35%
United Natural Foods, Inc. 0.35% -0.35%
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. Portfolio holdings may change over time. Positions smaller than 0.05% round to 0.0%.

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 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.