Baron Partners Fund (BPTRX)
- Facts & Characteristics
- Top Ten Holdings
- Portfolio Holdings
- Sector Breakdown
- Top Contributors & Detractors
Fund Description
Baron Partners Fund invests in all-cap companies with significant growth opportunities.
Fund Resources
Ron Baron invests in people.
Latest Fact Sheets
Expanded Fact Sheet - Retail Shares
Facts & Characteristics as of March 31, 2013
| Inception Date | January 31, 1992 |
| Net Assets (All share classes combined as of 4/30/2013) | $1.06 billion |
| # of Equity Securities / % of Net Assets | 21/121.1% |
| Turnover (3 Year Average) | 15.04% |
| Median Market Cap | $5.82 billion |
| Weighted Average Market Cap | $7.71 billion |
| CUSIP | 06828M108 |
| Expense Ratio (as of FYE 12/11)* | 1.35% |
| Interest Expense Ratio (as of FYE 12/11) | 0.36% |
| Total Expense Ratio (as of FYE 12/11) | 1.71% |
| EPS Growth (3-5 year forecast)† | 14.0% |
| Price/Earnings Ratio (trailing 12-month)*† | 21.4 |
| Price/Book Ratio*† | 2.4 |
| Price/Sales Ratio*† | 1.8 |
Top Ten Holdings as of April 30, 2013
| Holding | Sector |
% of Long Positions † |
|---|---|---|
|
ITC Holdings Corp. (ITC) is the nation’s largest independent electric transmission company, serving an area of approximately 90,000 square miles in seven states.
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Utilities | 10.3% |
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Arch Capital Group Ltd. (ACGL) writes insurance and reinsurance (insurance purchased from other insurers) through operations in Bermuda, the U.S., Europe and Canada.
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Financials | 10.1% |
|
Hyatt Hotels Corp. (H) is a global hospitality company with 473 Hyatt branded properties representing 133,799 keys. The company’s brands include Park Hyatt, Grand Hyatt, Hyatt Regency, Hyatt, Hyatt Place, and Hyatt Summerfield Suites.
|
Consumer Discretionary | 8.1% |
|
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.
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Industrials | 7.7% |
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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.
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Industrials | 6.7% |
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Dick’s Sporting Goods, Inc. (DKS) is a full-line sporting goods retailer offering brand-name sporting goods equipment, apparel, and footwear in a specialty-store environment.
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Consumer Discretionary | 4.4% |
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FactSet Research Systems, Inc. (FDS) provides financial information to the global investment community.
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Information Technology | 4.4% |
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Penn National Gaming, Inc. (PENN) is the largest and most diversified regional casino operator of riverboat resorts in America with 19 facilities in 15 jurisdictions.
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Consumer Discretionary | 4.4% |
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CarMax, Inc. (KMX) is the nation’s largest retailer of used cars with over $10 billion in sales and 110 superstores.
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Consumer Discretionary | 4.4% |
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Vail Resorts, Inc. (MTN) is the largest operator of ski resorts in North America. It owns and operates seven world class ski resorts in Vail, Breckenridge, Keystone, and Beaver Creek in Colorado; and Heavenly, Northstar, and the Kirkland property in Lake Tahoe.
|
Consumer Discretionary | 4.2% |
| Total | 64.7% | |
Portfolio Holdings as of March 31, 2013
| Holding | Sector | Market Cap ($Bn) |
% of Long Positions † |
|---|---|---|---|
| Arch Capital Group Ltd. | Financials | $6.989 | 10.7% |
| ITC Holdings Corp. | Utilities | $4.666 | 10.6% |
| Hyatt Hotels Corp. | Consumer Discretionary | $7.006 | 8.7% |
| Verisk Analytics, Inc. | Industrials | $10.363 | 8.2% |
| Fastenal Co. | Industrials | $15.232 | 7.5% |
| Dick's Sporting Goods, Inc. | Consumer Discretionary | $5.818 | 6.2% |
| FactSet Research Systems, Inc. | Information Technology | $4.092 | 6.0% |
| Vail Resorts, Inc. | Consumer Discretionary | $2.238 | 5.5% |
| The Charles Schwab Corp. | Financials | $22.608 | 5.0% |
| CoStar Group, Inc. | Information Technology | $3.102 | 4.4% |
| Penn National Gaming, Inc. | Consumer Discretionary | $4.230 | 4.3% |
| CarMax, Inc. | Consumer Discretionary | $9.515 | 4.0% |
| The Carlyle Group | Financials | $1.308 | 4.0% |
| Discovery Communications, Inc. | Consumer Discretionary | $18.457 | 3.2% |
| Helmerich & Payne, Inc. | Energy | $6.451 | 2.4% |
| MSCI, Inc. | Financials | $4.079 | 2.1% |
| Windy City Investments Holdings, L.L.C. | Financials | - | 2.1% |
| C.H. Robinson Worldwide, Inc. | Industrials | $9.576 | 2.0% |
| Ryanair Holdings plc | Industrials | $12.038 | 1.3% |
| Oaktree Capital Group, LLC | Financials | $1.540 | 1.1% |
| Kerzner International Holdings Ltd. | Consumer Discretionary | - | 0.5% |
| Windy City Investments Holdings, L.L.C. | Financials | - | 0.2% |
| 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 |
| Property & Casualty Insurance | 13.43% | 2.55% |
| Electric Utilities | 13.49% | 2.22% |
| Research & Consulting Services | 10.32% | 2.15% |
| Asset Management & Custody Banks^ | 9.87% | 1.91% |
| Hotels, Resorts & Cruise Lines^ | 12.02% | 1.50% |
| Top Detractors | Average Weight | Contribution |
| Air Freight & Logistics | 2.90% | -0.18% |
| By Holdings | ||
|---|---|---|
| Top Contributors | Average Weight | Contribution |
| Arch Capital Group Ltd. | 13.43% | 2.55% |
| ITC Holdings Corp. | 13.49% | 2.22% |
| Verisk Analytics, Inc. | 10.32% | 2.15% |
| The Charles Schwab Corp. | 6.43% | 1.50% |
| Hyatt Hotels Corp. | 11.39% | 1.39% |
| Top Detractors | Average Weight | Contribution |
| C.H. Robinson Worldwide, Inc. | 2.90% | -0.18% |
12 Months
| By Sub-Industry | ||
|---|---|---|
| Top Contributors | Average Weight | Contribution |
| Property & Casualty Insurance | 7.89% | 4.18% |
| Research & Consulting Services | 9.89% | 3.16% |
| Asset Management & Custody Banks^ | 8.39% | 2.85% |
| Leisure Facilities | 6.50% | 2.85% |
| Electric Utilities | 13.05% | 2.69% |
| Top Detractors | Average Weight | Contribution |
| Internet Retail | 0.47% | -1.95% |
| Specialized Finance | 4.26% | -1.10% |
| Application Software | 9.75% | -1.06% |
| Air Freight & Logistics | 3.71% | -0.79% |
| Trading Companies & Distributors | 9.70% | -0.68% |
| By Holdings | ||
|---|---|---|
| Top Contributors | Average Weight | Contribution |
| Arch Capital Group Ltd. | 12.93% | 5.21% |
| Verisk Analytics, Inc. | 9.56% | 3.07% |
| Vail Resorts, Inc. | 6.50% | 2.85% |
| CoStar Group, Inc. | 4.82% | 2.75% |
| ITC Holdings Corp. | 13.05% | 2.69% |
| Top Detractors | Average Weight | Contribution |
| Netflix, Inc. | 0.47% | -1.95% |
| MSCI, Inc. | 4.26% | -1.10% |
| FactSet Research Systems, Inc. | 9.37% | -0.97% |
| C.H. Robinson Worldwide, Inc. | 3.71% | -0.79% |
| Fastenal Co. | 9.70% | -0.68% |
Price/Book Ratio and Price/Sales Ratio are calculated using the Weighted Harmonic Average. Source: FactSet PA. Internal valuation metrics may differ.
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† Top Ten Holdings, Sector Breakdown and Portfolio Holdings are based on long positions. Portfolio holdings may change over time. Positions smaller than 0.05% round to 0.0%. Excludes Cash and Cash Equivalents which was (21.1)% of Net Assets as of March 31, 2013. Long Equity Exposure as a percentage of March 31, 2013 Net Assets 121.1% |
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.