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 March 31, 2015

Inception Date September 30, 2013
Net Assets (All share classes combined) $94.10 million
# of Equity Securities / % of Net Assets 56/93.5%
Turnover (1 Year) 114.08%
Median Market Cap $0.94 billion
Weighted Average Market Cap $1.40 billion
CUSIP 068278860
Gross Expense Ratio (as of 09/14) 2.16%
Less: Reimbursement of Expenses by Adviser (as of 09/14) (0.81)%
Net Expense Ratio (as of 09/14) 1.35%
EPS Growth (3-5 year forecast) 22.6%
Price/Earnings Ratio (trailing 12-month) 28.0
Price/Book Ratio 3.3
Price/Sales Ratio 1.7

Top Ten Holdings as of March 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 4.1%
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 3.6%
DigitalGlobe, Inc.
Industrials 3.1%
Amber Road, Inc. (AMBR) is a SaaS-based software company that streamlines the processes behind the import and export of goods. The software is powered by a proprietary database that includes constantly updated information regarding shipping schedules, trade agreements, and tariffs from around the world.
Information Technology 3.0%
Just Eat plc (je.ln) is the #1 online/mobile restaurant delivery aggregator/platform in the UK, Denmark, Ireland France, Spain, Switzerland, Norway, and Canada with a nascent position in Italy. The company generates a 10-13% commission on gross food sales ordered via its websites and mobile apps.
Information Technology 2.9%
ExamWorks Group, Inc.
Health Care 2.9%
Strategic Hotels & Resorts, Inc.
Financials 2.9%
CaesarStone Sdot-Yam Ltd.
Industrials 2.6%
Rexford Industrial Realty, Inc.
Financials 2.5%
Intersect ENT, Inc.
Health Care 2.4%
Total 30.0%
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Portfolio Holdings as of March 31, 2015

Holding Sector Market Cap ($Bn) Percentage*
PRINCIPAL CASH Cash & Cash Equivalents - 6.5%
Foundation Medicine, Inc. Health Care $1.402 4.1%
The Spectranetics Corporation Health Care $1.466 3.6%
DigitalGlobe, Inc. Industrials $2.472 3.1%
Amber Road, Inc. Information Technology $0.241 3.0%
Strategic Hotels & Resorts, Inc. Financials $3.422 2.9%
Just Eat plc Information Technology $3.677 2.9%
ExamWorks Group, Inc. Health Care $1.713 2.9%
CaesarStone Sdot-Yam Ltd. Industrials $2.131 2.6%
Rexford Industrial Realty, Inc. Financials $0.875 2.5%
Intersect ENT, Inc. Health Care $0.607 2.4%
Westlake Chemical Partners LP Materials $0.726 2.4%
Esperion Therapeutics, Inc. Health Care $2.054 2.4%
Fiesta Restaurant Group, Inc. Consumer Discretionary $1.636 2.3%
Inogen, Inc. Health Care $0.596 2.2%
Fidelity National Financial Inc. - FNFV Group Financials $1.311 2.2%
Barracuda Networks, Inc. Information Technology $2.020 2.1%
Pinnacle Entertainment, Inc. Consumer Discretionary $2.174 2.0%
Envestnet, Inc. Information Technology $1.937 2.0%
Qualys, Inc. Information Technology $1.576 2.0%
Varonis Systems, Inc. Information Technology $0.635 2.0%
Chuy's Holdings Inc. Consumer Discretionary $0.370 2.0%
INC Research Holdings, Inc. Health Care $2.020 1.9%
HealthEquity, Inc. Health Care $1.376 1.8%
Mattress Firm Holding Corp. Consumer Discretionary $2.439 1.7%
BioScrip, Inc. Health Care $0.304 1.7%
Coherent, Inc. Information Technology $1.607 1.6%
Flotek Industries, Inc. Materials $0.805 1.6%
Sientra, Inc. Health Care $0.286 1.6%
Mercury Systems, Inc. Information Technology $0.531 1.5%
TherapeuticsMD, Inc. Health Care $1.039 1.5%
Aerie Pharmaceuticals, Inc. Health Care $0.754 1.5%
Boot Barn Holdings, Inc. Consumer Discretionary $0.615 1.5%
The KEYW Holding Corp. Industrials $0.309 1.4%
Pacira Pharmaceuticals, Inc. Health Care $3.220 1.4%
Benefitfocus, Inc. Information Technology $1.047 1.4%
NN, Inc. Industrials $0.476 1.4%
MA-COM Technology Solutions Holdings, Inc. Information Technology $1.948 1.3%
Unifi, Inc. Consumer Discretionary $0.656 1.3%
Valero Energy Partners LP Energy $2.787 1.2%
ClubCorp Holdings, Inc. Consumer Discretionary $1.251 1.2%
AAC Holings, Inc. Health Care $0.666 1.1%
Novadaq Technologies Inc. Health Care $0.907 1.0%
Inventure Foods, Inc. Consumer Staples $0.219 1.0%
Unilife Corporation Health Care $0.517 1.0%
Coupons.com Incorporated Information Technology $0.971 0.9%
American Assets Trust, Inc. Financials $1.886 0.8%
Zoe's Kitchen, Inc. Consumer Discretionary $0.642 0.8%
Revance Therapeutics, Inc. Health Care $0.496 0.7%
Cerus Corporation Health Care $0.397 0.6%
Trex Company, Inc. Industrials $1.749 0.5%
Tumi Holdings, Inc. Consumer Discretionary $1.660 0.5%
Del Frisco's Restaurant Group, Inc. Consumer Discretionary $0.472 0.5%
The Container Store Group, Inc. Consumer Discretionary $0.914 0.5%
Genfit SA Health Care $0.886 0.5%
Atlas Energy Group, LLC Energy $0.156 0.5%
Barfresh Food Group, Inc. Restricted Consumer Staples - 0.4%
Barfresh Food Group, Inc.-Series F Warrants Consumer Staples $0.047 0.1%
Total 100.0%
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Sector Breakdown as of March 31, 2015

Sector Sub-Industry Percentage*
Cash & Cash Equivalents
6.5%
Consumer Discretionary
  • Restaurants 5.6%
  • Casinos & Gaming 2.0%
  • Homefurnishing Retail 1.7%
  • Apparel Retail 1.5%
  • Textiles 1.3%
  • Leisure Facilities 1.2%
  • Apparel, Accessories & Luxury Goods 0.5%
  • Specialty Stores 0.5%
14.4%
Consumer Staples
  • Packaged Foods & Meats 1.4%
1.4%
Energy
  • Oil & Gas Storage & Transportation 1.2%
  • Oil & Gas Exploration & Production 0.5%
1.7%
Financials
  • Hotel & Resort REITs 2.9%
  • Industrial REITs 2.5%
  • Multi-Sector Holdings 2.2%
  • Diversified REITs 0.8%
8.5%
Health Care
  • Pharmaceuticals 7.5%
  • Health Care Supplies 6.9%
  • Biotechnology 6.6%
  • Health Care Services 4.7%
  • Health Care Equipment 3.2%
  • Life Sciences Tools & Services 2.4%
  • Managed Health Care 1.8%
  • Health Care Facilities 1.1%
34.2%
Industrials
  • Aerospace & Defense 4.5%
  • Building Products 3.1%
  • Industrial Machinery 1.4%
8.9%
Information Technology
  • Internet Software & Services 10.1%
  • Systems Software 6.1%
  • Electronic Equipment & Instruments 1.6%
  • Electronic Manufacturing Services 1.4%
  • Semiconductors 1.3%
20.5%
Materials
  • Commodity Chemicals 2.4%
  • Specialty Chemicals 1.6%
3.9%
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Top Contributors & Detractors as of March 31, 2015

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

3 Months

By Sub-Industry
Top Contributors Average Weight Contribution
Biotechnology 6.48% 5.22%
Pharmaceuticals 7.65% 1.48%
Casinos & Gaming 1.96% 1.36%
Internet Software & Services 10.05% 0.49%
Apparel Retail 1.55% 0.46%
Top Detractors Average Weight Contribution
Health Care Services 5.20% -1.16%
Specialty Chemicals 1.57% -0.46%
Internet Retail 0.47% -0.33%
Specialized Consumer Services 0.68% -0.29%
Hotel & Resort REITs 3.68% -0.26%
By Holdings
Top Contributors Average Weight Contribution
Foundation Medicine, Inc. 4.28% 3.19%
Esperion Therapeutics, Inc. 2.18% 2.01%
Pinnacle Entertainment, Inc. 1.96% 1.36%
Intersect ENT, Inc. 2.52% 0.85%
Just Eat plc 2.24% 0.72%
Top Detractors Average Weight Contribution
BioScrip, Inc. 2.33% -1.13%
Coupons.com Incorporated 1.21% -0.60%
Varonis Systems, Inc. 2.76% -0.55%
Flotek Industries, Inc. 1.57% -0.46%
E2open, Inc. 0.93% -0.31%

12 Months

By Sub-Industry
Top Contributors Average Weight Contribution
Biotechnology 3.82% 5.55%
Restaurants 4.18% 3.91%
Pharmaceuticals 8.12% 3.28%
Oil & Gas Storage & Transportation 5.60% 1.82%
Systems Software 5.95% 1.81%
Top Detractors Average Weight Contribution
Internet Software & Services 9.53% -2.19%
Specialty Chemicals 3.18% -1.88%
Insurance Brokers 0.71% -1.78%
Heavy Electrical Equipment 0.21% -1.71%
Internet Retail 0.94% -1.51%
By Holdings
Top Contributors Average Weight Contribution
Esperion Therapeutics, Inc. 0.85% 2.98%
Foundation Medicine, Inc. 2.97% 2.55%
Pacira Pharmaceuticals, Inc. 2.77% 2.14%
Intersect ENT, Inc. 1.47% 2.01%
Zoe's Kitchen, Inc. 0.92% 1.79%
Top Detractors Average Weight Contribution
Flotek Industries, Inc. 3.18% -1.88%
E2open, Inc. 1.53% -1.83%
eHealth, Inc. 0.71% -1.78%
PowerSecure International, Inc. 0.21% -1.71%
BioScrip, Inc. 2.85% -1.04%
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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.