Baron Fifth Avenue Growth Fund (BFTIX)
- Facts & Characteristics
- Top Ten Holdings
- Portfolio Holdings
- Sector Breakdown
- Top Contributors & Detractors
Fund Description
Baron Fifth Avenue Growth Fund invests in large growth companies.
Facts & Characteristics as of March 31, 2013
| Inception Date | April 30, 2004 |
| Net Assets (All share classes combined as of 4/30/2013) | $67.56 million |
| # of Equity Securities / % of Net Assets | 36/99.9% |
| Turnover (3 Year Average) | 64.91% |
| Median Market Cap | $25.44 billion |
| Weighted Average Market Cap | $73.93 billion |
| CUSIP | 068278878 |
| Gross Expense Ratio (as of FYE 09/12) | 1.26% |
| Less: Reimbursement of Expenses by Adviser (as of FYE 09/12) | (0.21)% |
| Net Expense Ratio (as of FYE 09/12) | 1.05% |
| EPS Growth (3-5 year forecast)† | 19.1% |
| Price/Earnings Ratio (trailing 12-month)*† | 22.6 |
| Price/Book Ratio*† | 3.5 |
| Price/Sales Ratio*† | 3.1 |
Top Ten Holdings as of April 30, 2013
| Holding | Sector | Percentage* |
|---|---|---|
|
Google, Inc. (GOOG) is a global technology company that provides Internet search, software, and advertising technologies. Google generates revenue by providing advertisers with the opportunity to deliver online advertising relevant to a user’s search or preferences.
|
Information Technology | 6.1% |
|
Apple, Inc. (AAPL) designs, manufactures, and markets personal computers and related personal computing and mobile communication devices. It is engaged in the designing of Mac laptops, iPods, iPhones, iPads along with OS X, iLife, iWork and professional software.
|
Information Technology | 5.2% |
|
Visa, Inc. (V) is a payment network that authorizes and facilitates payments for consumers, merchants, and financial institutions around the world.
|
Information Technology | 4.5% |
|
Wynn Resorts, Ltd. (WYNN) is a leading company in the gaming industry with properties in Macau in the East and Las Vegas in the West. The company also owns land on the Cotai Strip which it is developing.
|
Consumer Discretionary | 4.4% |
|
Facebook, Inc. (FB) is the world's largest social networking website. It aims is to make the world more open and connected.
|
Information Technology | 4.2% |
|
Monsanto Co. (MON) produces agricultural products for farmers that include genetically modified seeds and crop protection chemicals.
|
Materials | 4.1% |
|
Illumina, Inc. (ILMN) develops and commercializes tools and services for genetic analysis. The company is the recognized leader in next generation DNA sequencing platforms.
|
Health Care | 4.1% |
|
Amazon.com, Inc. (AMZN) is an e-commerce pioneer, innovator and market share leader, with relentless focus on providing customers value and convenience. It is the world's largest online retail merchant.
|
Consumer Discretionary | 4.0% |
|
Brookfield Asset Management, Inc. (BAM) invests in property, renewable power, and infrastructure assets worldwide. It has more than $100 billion under management.
|
Financials | 4.0% |
|
priceline.com, Inc. (PCLN) is a leading global online travel agent, with particular strength in international travel and hotel bookings. The company’s brands include priceline.com, Booking.com, CarRentals.com, and Agoda.com.
|
Consumer Discretionary | 3.8% |
| Total | 44.4% | |
Portfolio Holdings as of March 31, 2013
| Holding | Sector | Market Cap ($Bn) | Percentage* |
|---|---|---|---|
| Google, Inc. | Information Technology | $261.763 | 5.9% |
| Apple, Inc. | Information Technology | $415.655 | 5.2% |
| Visa, Inc. | Information Technology | $136.451 | 4.6% |
| Amazon.com, Inc. | Consumer Discretionary | $121.133 | 4.3% |
| Monsanto Co. | Materials | $56.598 | 4.1% |
| Wynn Resorts Ltd. | Consumer Discretionary | $12.639 | 4.0% |
| Brookfield Asset Management, Inc. | Financials | $22.816 | 3.8% |
| priceline.com, Inc. | Consumer Discretionary | $34.308 | 3.7% |
| Equinix, Inc. | Information Technology | $10.557 | 3.5% |
| Illumina, Inc. | Health Care | $6.698 | 3.4% |
| YUM! Brands, Inc. | Consumer Discretionary | $32.426 | 3.4% |
| CME Group, Inc. | Financials | $20.479 | 3.3% |
| Las Vegas Sands Corp. | Consumer Discretionary | $46.456 | 3.3% |
| Ralph Lauren Corp. | Consumer Discretionary | $15.359 | 3.3% |
| MasterCard, Inc. | Information Technology | $66.435 | 3.2% |
| eBay, Inc. | Information Technology | $70.297 | 3.0% |
| Liberty Media Corp. | Consumer Discretionary | $13.515 | 3.0% |
| Verisk Analytics, Inc. | Industrials | $10.363 | 2.8% |
| Starbucks Corp. | Consumer Discretionary | $42.680 | 2.7% |
| Citrix Systems, Inc. | Information Technology | $13.451 | 2.7% |
| Fastenal Co. | Industrials | $15.232 | 2.6% |
| BM&FBOVESPA SA | Financials | $13.365 | 2.4% |
| QUALCOMM, Inc. | Information Technology | $115.029 | 2.4% |
| Facebook Inc. | Information Technology | $60.935 | 2.3% |
| BASF SE | Materials | $80.437 | 1.9% |
| Red Hat, Inc. | Information Technology | $9.768 | 1.8% |
| Golar LNG Ltd. | Energy | $2.968 | 1.7% |
| ASML Holding N.V. | Information Technology | $28.554 | 1.7% |
| Costco Wholesale Corp. | Consumer Staples | $46.303 | 1.6% |
| Omnicom Group, Inc. | Consumer Discretionary | $15.397 | 1.5% |
| Cetip SA - Mercados Organizados | Financials | $3.017 | 1.5% |
| ICICI Bank Limited | Financials | $24.706 | 1.5% |
| Precision Castparts Corp. | Industrials | $27.770 | 1.4% |
| LinkedIn Corp. | Information Technology | $19.200 | 1.4% |
| salesforce.com, inc. | Information Technology | $26.181 | 1.0% |
| Cash & Cash Equivalents | Cash & Cash Equivalents | - | 0.1% |
| Better Place, Inc. | Utilities | - | 0.0% |
| 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 |
| Data Processing and Outsourced Services | 7.46% | 0.83% |
| Internet Retail | 8.08% | 0.70% |
| Casinos & Gaming | 5.57% | 0.68% |
| Specialized Finance | 5.56% | 0.57% |
| Research & Consulting Services | 2.57% | 0.50% |
| Top Detractors | Average Weight | Contribution |
| Computer Hardware | 5.45% | -1.04% |
| Education Services | 0.87% | -0.17% |
| Diversified Chemicals | 2.09% | -0.16% |
| Life Sciences Tools & Services | 3.31% | -0.11% |
| Systems Software | 1.71% | -0.07% |
| By Holdings | ||
|---|---|---|
| Top Contributors | Average Weight | Contribution |
| Google, Inc. | 5.83% | 0.65% |
| CME Group, Inc. | 3.19% | 0.62% |
| Visa, Inc. | 4.31% | 0.51% |
| LinkedIn Corp. | 1.22% | 0.50% |
| Verisk Analytics, Inc. | 2.57% | 0.50% |
| Top Detractors | Average Weight | Contribution |
| Apple, Inc. | 5.45% | -1.04% |
| Rackspace Hosting, Inc. | 1.16% | -0.48% |
| Millennial Media, Inc. | 0.57% | -0.26% |
| New Oriental Education & Technology Group | 0.87% | -0.17% |
| BASF SE | 2.09% | -0.16% |
12 Months
| By Sub-Industry | ||
|---|---|---|
| Top Contributors | Average Weight | Contribution |
| Data Processing and Outsourced Services | 6.95% | 2.44% |
| Internet Retail | 8.03% | 1.36% |
| Broadcasting | 3.05% | 1.30% |
| Fertilizers & Agricultural Chemicals | 3.45% | 1.10% |
| IT Consulting & Other Services^ | 3.84% | 0.93% |
| Top Detractors | Average Weight | Contribution |
| Diversified Metals & Mining | 0.58% | -1.73% |
| Computer Hardware | 7.37% | -1.58% |
| Education Services | 1.92% | -1.31% |
| Asset Management & Custody Banks | 1.77% | -0.93% |
| Independent Power Producers & Energy Traders^ | 0.40% | -0.73% |
| By Holdings | ||
|---|---|---|
| Top Contributors | Average Weight | Contribution |
| Visa, Inc. | 3.91% | 1.61% |
| Amazon.com, Inc. | 4.91% | 1.54% |
| Equinix, Inc. | 3.62% | 1.39% |
| Starz Liberty Capital, Inc. | 2.47% | 1.30% |
| Google, Inc. | 5.48% | 1.26% |
| Top Detractors | Average Weight | Contribution |
| Molycorp, Inc. | 0.58% | -1.73% |
| Apple, Inc. | 7.37% | -1.58% |
| Millennial Media, Inc. | 1.14% | -1.32% |
| New Oriental Education & Technology Group | 1.92% | -1.31% |
| Baidu, Inc. | 1.48% | -0.85% |
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.