Baron Discovery Fund (BDFFX)

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Fund Description

Baron Discovery Fund invests primarily in small growth companies.
 

Fund Resources

Latest Fact Sheets
  Standard Fact Sheet

Facts & Characteristics as of December 31, 2014

Inception Date September 30, 2013
Net Assets (All share classes combined) $81.45 million
# of Equity Securities / % of Net Assets 60/96.8%
Turnover (1 Year) 118.48%
Median Market Cap $0.97 billion
Weighted Average Market Cap $1.26 billion
CUSIP 068278860
Estimated Gross Expense Ratio 3.25%
Less: Estimated Reimbursement of Expenses by Adviser (1.90)%
Net Expense Ratio 1.35%
EPS Growth (3-5 year forecast) 20.2%
Price/Earnings Ratio (trailing 12-month) 10.6
Price/Book Ratio 3.7
Price/Sales Ratio 1.9

Top Ten Holdings as of January 31, 2015

Download Attribution Analysis for Institutional Share Class
Holding Sector Percentage*
Foundation Medicine, Inc. (FMI) offers a molecular information platform that provides genomic information about a patient's individual cancer, enabling physicians to optimize treatment in clinical practice and enabling biopharmaceutical companies to develop targeted oncology therapies more effectively.
Health Care 4.9%
The Spectranetics Corporation (SPNC) develops laser-based devices for interventional cardiovascular therapy. It specializes in vascular intervention (clearing blockages in leg arteries in particular) and lead management (removal of old pacemaker/defibrillator leads).
Health Care 4.1%
Varonis Systems, Inc.
Information Technology 3.1%
ExamWorks Group, Inc.
Health Care 2.8%
Intersect ENT, Inc.
Health Care 2.7%
Fiesta Restaurant Group, Inc.
Consumer Discretionary 2.6%
CaesarStone Sdot-Yam Ltd.
Materials 2.6%
Inogen, Inc.
Health Care 2.6%
BioScrip, Inc. (BIOS) is a health care services company that provides Infusion Products/Services and Pharmacy Benefit Management Services. It has 40 infusion pharmacies and 33 nursing locations specializing in chronic care management.
Health Care 2.5%
Rexford Industrial Realty, Inc.
Financials 2.5%
Total 30.4%
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Portfolio Holdings as of December 31, 2014

Holding Sector Market Cap ($Bn) Percentage*
The Spectranetics Corporation Health Care $1.450 4.3%
PRINCIPAL CASH Cash & Cash Equivalents - 3.2%
BioScrip, Inc. Health Care $0.480 3.0%
Varonis Systems, Inc. Information Technology $0.807 3.0%
ExamWorks Group, Inc. Health Care $1.666 3.0%
DigitalGlobe, Inc. Industrials $2.328 2.8%
Fiesta Restaurant Group, Inc. Consumer Discretionary $1.628 2.6%
Foundation Medicine, Inc. Health Care $0.629 2.6%
Westlake Chemical Partners LP Materials $0.785 2.6%
Barracuda Networks, Inc. Information Technology $1.862 2.5%
Inogen, Inc. Health Care $0.584 2.5%
Strategic Hotels & Resorts, Inc. Financials $3.538 2.4%
E2open, Inc. Information Technology $0.281 2.4%
CaesarStone Sdot-Yam Ltd. Materials $2.100 2.3%
Intersect ENT, Inc. Health Care $0.434 2.2%
Amber Road, Inc. Information Technology $0.260 2.1%
Flotek Industries, Inc. Materials $1.010 2.0%
Qualys, Inc. Information Technology $1.258 1.9%
Just Eat plc Information Technology $2.742 1.9%
AAC Holings, Inc. Health Care $0.652 1.9%
Chesapeake Lodging Trust Financials $2.042 1.8%
Tallgrass Energy Partners, LP Energy $2.191 1.8%
Envestnet, Inc. Information Technology $1.688 1.8%
HealthEquity, Inc. Health Care $1.394 1.8%
INC Research Holdings, Inc. Health Care $1.586 1.8%
Atlas Energy, L.P. Energy $1.618 1.7%
Coherent, Inc. Information Technology $1.525 1.7%
Esperion Therapeutics, Inc. Health Care $0.823 1.7%
Polypore International, Inc. Industrials $2.101 1.6%
Inventure Foods, Inc. Consumer Staples $0.249 1.6%
American Assets Trust, Inc. Financials $1.736 1.5%
Del Frisco's Restaurant Group, Inc. Consumer Discretionary $0.556 1.5%
Pinnacle Entertainment, Inc. Consumer Discretionary $1.335 1.4%
Benefitfocus, Inc. Information Technology $0.839 1.4%
Aerie Pharmaceuticals, Inc. Health Care $0.700 1.4%
Sientra, Inc. Health Care $0.250 1.4%
Rexford Industrial Realty, Inc. Financials $0.683 1.4%
Mattress Firm Holding Corp. Consumer Discretionary $2.034 1.3%
TherapeuticsMD, Inc. Health Care $0.695 1.3%
Coupons.com Incorporated Consumer Discretionary $1.419 1.3%
Boot Barn Holdings, Inc. Consumer Discretionary $0.468 1.3%
Capital Senior Living Corp. Health Care $0.725 1.2%
Novadaq Technologies Inc. Health Care $0.924 1.2%
The KEYW Holding Corp. Industrials $0.390 1.1%
ClubCorp Holdings, Inc. Consumer Discretionary $1.156 1.1%
comScore, Inc. Information Technology $1.588 1.0%
Tumi Holdings, Inc. Consumer Discretionary $1.611 1.0%
Primoris Services Corp. Industrials $1.198 1.0%
Pacira Pharmaceuticals, Inc. Health Care $3.197 1.0%
Power Integrations, Inc. Information Technology $1.528 0.9%
Iridium Communications Inc. Telecommunication Services $0.914 0.9%
Park-Ohio Holdings Corp. Industrials $0.789 0.9%
Revance Therapeutics, Inc. Health Care $0.402 0.9%
LifeLock, Inc Consumer Discretionary $1.732 0.6%
Unilife Corporation Health Care $0.372 0.6%
Habit Restaurants, Inc. Consumer Discretionary $0.817 0.6%
Genfit SA Health Care $1.092 0.6%
The Container Store Group, Inc. Consumer Discretionary $0.918 0.5%
Zoe's Kitchen, Inc. Consumer Discretionary $0.576 0.5%
Liberty Tax, Inc. Cl - A Consumer Discretionary $0.421 0.5%
Cerus Corporation Health Care $0.488 0.2%
Total 100.0%
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Sector Breakdown as of January 31, 2015

Sector Sub-Industry Percentage*
Cash & Cash Equivalents
6.3%
Consumer Discretionary
  • Restaurants 5.2%
  • Casinos & Gaming 1.6%
  • Apparel Retail 1.6%
  • Homefurnishing Retail 1.5%
  • Specialized Consumer Services 1.3%
  • Leisure Facilities 1.1%
  • Apparel, Accessories & Luxury Goods 1.0%
  • Specialty Stores 0.6%
13.8%
Consumer Staples
  • Packaged Foods & Meats 1.3%
1.3%
Energy
  • Oil & Gas Storage & Transportation 2.8%
2.8%
Financials
  • Hotel & Resort REITs 4.1%
  • Industrial REITs 2.5%
  • Diversified REITs 1.0%
7.6%
Health Care
  • Pharmaceuticals 8.0%
  • Health Care Supplies 7.2%
  • Biotechnology 7.0%
  • Health Care Services 5.3%
  • Health Care Equipment 3.6%
  • Life Sciences Tools & Services 2.2%
  • Health Care Facilities 1.6%
  • Managed Health Care 1.5%
36.6%
Industrials
  • Aerospace & Defense 3.5%
  • Electrical Components & Equipment 1.6%
5.1%
Information Technology
  • Internet Software & Services 10.9%
  • Systems Software 7.3%
  • Electronic Equipment & Instruments 1.8%
20.0%
Materials
  • Construction Materials 2.6%
  • Commodity Chemicals 2.0%
  • Specialty Chemicals 1.5%
6.0%
Telecommunication Services
  • Alternative Carriers 0.5%
0.5%
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Top Contributors & Detractors as of December 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
Systems Software 7.16% 2.99%
Health Care Supplies 6.21% 1.73%
Restaurants 5.22% 1.65%
Health Care Facilities 2.86% 1.45%
Biotechnology 3.98% 1.34%
Top Detractors Average Weight Contribution
Specialty Chemicals 2.24% -1.06%
Oil & Gas Storage & Transportation 3.55% -0.46%
Consumer Finance 0.34% -0.38%
Construction & Engineering 1.29% -0.16%
Industrial Machinery 0.06% -0.13%
By Holdings
Top Contributors Average Weight Contribution
The Spectranetics Corporation 4.90% 1.48%
AAC Holings, Inc. 1.71% 1.25%
Varonis Systems, Inc. 2.22% 1.15%
Inogen, Inc. 2.07% 0.99%
Barracuda Networks, Inc. 2.52% 0.92%
Top Detractors Average Weight Contribution
Flotek Industries, Inc. 2.24% -1.06%
Amber Road, Inc. 1.68% -0.91%
Regional Management Corp. 0.34% -0.38%
PBF Logistics LP 0.27% -0.26%
Ascent Capital Group, Inc. 1.12% -0.23%

12 Months

By Sub-Industry
Top Contributors Average Weight Contribution
Pharmaceuticals 7.90% 3.81%
Restaurants 3.42% 3.78%
Oil & Gas Storage & Transportation 6.38% 3.07%
Systems Software 5.70% 2.35%
Health Care Supplies 4.32% 2.02%
Top Detractors Average Weight Contribution
Internet Software & Services 10.31% -1.74%
Insurance Brokers 1.06% -1.63%
Semiconductor Equipment 1.45% -1.39%
Heavy Electrical Equipment 0.54% -1.32%
Specialty Stores 1.18% -1.16%
By Holdings
Top Contributors Average Weight Contribution
Pacira Pharmaceuticals, Inc. 3.12% 2.87%
The Spectranetics Corporation 3.99% 1.77%
Zoe's Kitchen, Inc. 0.76% 1.61%
Qualys, Inc. 2.33% 1.47%
Inogen, Inc. 1.60% 1.46%
Top Detractors Average Weight Contribution
eHealth, Inc. 1.06% -1.63%
PDF Solutions, Inc. 1.45% -1.39%
E2open, Inc. 1.85% -1.38%
PowerSecure International, Inc. 0.54% -1.32%
Ascent Capital Group, Inc. 2.07% -1.22%
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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. As of 3/12/2014, Baron Discovery Fund no longer owns shares of Mandarin Oriental International.

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.

One year turnover information to the most recent quarter and average market cap (unweighted) is available upon request.