Baron Energy and Resources Fund (BENFX)

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Fund Description

Baron Energy and Resources Fund invests in securities of energy and resources companies and related companies of all sizes.
 

    

Facts & Characteristics as of March 31, 2015

Inception Date December 30, 2011
Net Assets (All share classes combined) $81.66 million
# of Equity Securities / % of Net Assets 54/94.1%
Turnover (3 Year Average) 29.89%
Median Market Cap $3.23 billion
Weighted Average Market Cap $8.31 billion
CUSIP 06828M868
Gross Expense Ratio (as of FYE 12/13) 2.25%
Less: Reimbursement of Expenses by Adviser (as of FYE 12/13) (0.90)%
Net Expense Ratio (as of FYE 12/13) 1.35%
EPS Growth (3-5 year forecast) 13.3%
Price/Earnings Ratio (trailing 12-month) 14.3
Price/Book Ratio 1.7
Price/Sales Ratio 1.3

Top Ten Holdings as of April 30, 2015

Download Attribution Analysis for Institutional Share Class
Holding Sector Percentage*
Concho Resources, Inc. (CXO) is an independent oil and natural gas company engaged in the acquisition, development, exploitation, and exploration of oil and natural gas properties focused on the Permian basin in West Texas and New Mexico.
Energy 4.1%
Newfield Exploration Co.
Energy 3.6%
Parsley Energy, Inc.
Energy 3.6%
SM Energy Co. (SM) is an independent oil and gas company engaged in the exploration, exploitation, development, acquisition, and production of natural gas and crude oil in North America.
Energy 3.4%
Halliburton Co. (HAL) is a leading provider of oilfield services and equipment to the global energy industry.
Energy 3.1%
SunEdison, Inc.
Information Technology 3.0%
Targa Resources Corp. (TRGP) owns LP units and is the General Partner of Targa Resources Partners, a growth oriented master limited partnership focused on gas and natural gas liquids gathering, processing, and fractionation.
Energy 3.0%
Bonanza Creek Energy, Inc. (BCEI) is an oil & gas exploration & production company with assets concentrated in the Rocky Mountain and Mid-Continent regions. The company is primarily focused on developing new resources in the Niobrara shale play in northeastern Colorado.
Energy 2.9%
Gulfport Energy Corp. (GPOR) is an independent exploration and production company based in the United States. The company primarily operates in Ohio, where it is active in the Utica Shale, and Louisiana, on more conventional fields. It also has a 25% stake in Grizzly Energy, a Canadian oil sands company.
Energy 2.9%
Laredo Petroleum Inc.
Energy 2.7%
Total 32.3%
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Portfolio Holdings as of March 31, 2015

Holding Sector Market Cap ($Bn) Percentage*
PRINCIPAL CASH Cash & Cash Equivalents - 5.9%
Concho Resources, Inc. Energy $13.911 4.2%
Newfield Exploration Co. Energy $5.709 3.6%
Parsley Energy, Inc. Energy $2.252 3.5%
SM Energy Co. Energy $3.487 3.4%
SunEdison, Inc. Information Technology $6.537 3.2%
Halliburton Co. Energy $37.284 3.1%
Targa Resources Corp. Energy $5.365 3.0%
Bonanza Creek Energy, Inc. Energy $1.217 2.9%
Gulfport Energy Corp. Energy $3.934 2.9%
Superior Energy Services, Inc. Energy $3.346 2.5%
Tallgrass Energy Partners, LP Energy $3.046 2.5%
Flotek Industries, Inc. Materials $0.805 2.5%
SemGroup Corporation - Cl A Energy $3.565 2.5%
Laredo Petroleum Inc. Energy $2.789 2.5%
Cabot Oil & Gas Corp. Energy $12.214 2.4%
RSP Permian, Inc. Energy $2.098 2.2%
TerraForm Power, Inc. Utilities $4.549 2.1%
Energy Transfer Equity, L.P. Energy $34.137 2.0%
Anadarko Petroleum Corporation Energy $42.687 1.9%
Western Refining Logistics, LP Energy $1.358 1.9%
Westlake Chemical Partners LP Materials $0.726 1.9%
Noble Energy, Inc. Energy $18.966 1.8%
Forum Energy Technologies, Inc. Energy $1.762 1.8%
Abengoa Yield plc Utilities $2.702 1.8%
Columbia Pipeline Partners LP Energy $2.787 1.8%
Globe Specialty Metals, Inc. Materials $1.395 1.7%
EOG Resources, Inc. Energy $50.289 1.7%
Marathon Petroleum Corp. Energy $27.951 1.7%
Shell Midstream Partners, L.P. Energy $5.262 1.7%
Helmerich & Payne, Inc. Energy $7.327 1.5%
Scorpio Tankers Inc. Energy $1.622 1.5%
Dominion Midstream Partners, L.P. Energy $2.655 1.5%
C & J Energy Services, Ltd. Energy $1.310 1.4%
Oasis Petroleum, Inc. Energy $1.980 1.3%
Golar LNG Ltd. Energy $3.104 1.3%
Phillips 66 Partners LP Energy $5.674 1.3%
Core Laboratories N.V. Energy $4.506 1.2%
Methanex Corporation Materials $4.918 1.2%
Rose Rock Midstream, L.P. Energy $1.748 1.0%
Valero Energy Partners LP Energy $2.787 1.0%
Western Gas Equity Partners LP Energy $13.135 0.9%
Flowserve Corp. Industrials $7.610 0.8%
Tesoro Logistics LP Energy $4.312 0.8%
Oil States International, Inc. Energy $2.043 0.8%
Western Gas Partners, LP Energy $8.569 0.8%
Tesco Corporation Energy $0.443 0.8%
RigNet, Inc. Energy $0.505 0.7%
MRC Global, Inc. Industrials $1.213 0.7%
Primoris Services Corp. Industrials $0.887 0.7%
Antero Resources Corporation Energy $9.719 0.7%
Whiting Petroleum Corp. Energy $6.319 0.5%
Lekoil, Ltd. Energy $0.127 0.5%
Atlas Energy Group, LLC Energy $0.156 0.4%
PBF Logistics LP Energy $0.746 0.1%
Total 100.0%
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Sector Breakdown as of April 30, 2015

Sector Sub-Industry Percentage*
Cash & Cash Equivalents
4.9%
Energy
  • Oil & Gas Exploration & Production 37.5%
  • Oil & Gas Storage & Transportation 24.6%
  • Oil & Gas Equipment & Services 13.8%
  • Oil & Gas Drilling 1.5%
  • Oil & Gas Refining & Marketing 1.5%
78.9%
Industrials
  • Construction & Engineering 0.8%
  • Industrial Machinery 0.7%
  • Trading Companies & Distributors 0.7%
2.2%
Information Technology
  • Semiconductor Equipment 3.0%
3.0%
Materials
  • Commodity Chemicals 3.1%
  • Specialty Chemicals 2.7%
  • Diversified Metals & Mining 1.6%
7.4%
Utilities
  • Renewable Electricity 3.6%
3.6%
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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
Oil & Gas Exploration & Production 33.32% 2.60%
Oil & Gas Storage & Transportation 27.39% 0.93%
Renewable Electricity 3.87% 0.82%
Semiconductor Equipment 2.89% 0.62%
Diversified Metals & Mining 1.22% 0.23%
Top Detractors Average Weight Contribution
Oil & Gas Equipment & Services 12.46% -1.32%
Specialty Chemicals 2.69% -0.66%
Construction & Engineering 1.20% -0.62%
Trading Companies & Distributors 0.77% -0.25%
Steel 0.80% -0.24%
By Holdings
Top Contributors Average Weight Contribution
SM Energy Co. 2.86% 0.92%
Concho Resources, Inc. 4.29% 0.75%
Newfield Exploration Co. 2.21% 0.62%
SunEdison, Inc. 2.89% 0.62%
Tallgrass Energy Partners, LP 3.07% 0.46%
Top Detractors Average Weight Contribution
Flotek Industries, Inc. 2.69% -0.66%
Primoris Services Corp. 0.98% -0.41%
Canyon Services Group Inc. 0.26% -0.34%
RigNet, Inc. 0.88% -0.33%
Tesco Corporation 1.22% -0.28%

12 Months

By Sub-Industry
Top Contributors Average Weight Contribution
Oil & Gas Storage & Transportation 25.85% 2.74%
Renewable Electricity 2.05% 0.70%
Semiconductor Equipment 2.02% 0.63%
Oil & Gas Refining & Marketing 1.65% 0.27%
Electrical Components & Equipment 0.42% 0.25%
Top Detractors Average Weight Contribution
Oil & Gas Equipment & Services 16.24% -7.23%
Oil & Gas Exploration & Production 32.17% -6.07%
Specialty Chemicals 3.17% -1.61%
Industrial Machinery 2.22% -1.31%
Construction & Engineering 2.08% -1.29%
By Holdings
Top Contributors Average Weight Contribution
Tallgrass Energy Partners, LP 2.96% 1.02%
Athlon Energy Inc. 1.26% 0.98%
Dominion Midstream Partners, L.P. 0.65% 0.83%
Shell Midstream Partners, L.P. 0.76% 0.68%
SunEdison, Inc. 2.02% 0.63%
Top Detractors Average Weight Contribution
Oasis Petroleum, Inc. 2.32% -1.83%
Bonanza Creek Energy, Inc. 3.56% -1.64%
Flotek Industries, Inc. 3.17% -1.61%
Forum Energy Technologies, Inc. 2.44% -1.12%
Tesco Corporation 1.92% -1.07%
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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.

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.