Baron Focused Growth Fund (BFGIX)

Invest In Baron Funds Today

Fund Description

Baron Focused Growth Fund invests in a focused portfolio of small and mid-size growth companies.

    

  

Facts & Characteristics as of March 31, 2016

Inception Date May 31, 1996
Net Assets (All share classes combined) $178.38 million
# of Equity Securities / % of Net Assets 20/93.0%
Turnover (3 Year Average) 27.82%
Median Market Cap $4.39 billion
Weighted Average Market Cap $8.30 billion
CUSIP 06828M504
Expense Ratio (as of FYE 12/14)* 1.09%
EPS Growth (3-5 year forecast) 21.0%
Price/Earnings Ratio (trailing 12-month) 26.5
Price/Book Ratio 2.8
Price/Sales Ratio 3.1

Top Ten Holdings as of May 31, 2016

Holding Sector Percentage*
Tesla Motors, Inc. (TSLA) manufactures luxury automobiles powered by purely electric drivetrains. It offers a sedan, Model S, and its recently launched CUV, Model X; in March 2016 it unveiled its lower cost Model 3 planned for production in 2017. It also commercializes battery-based energy storage solutions.
Consumer Discretionary 11.3%
Vail Resorts, Inc. (MTN) is the largest operator of ski resorts in the U.S. It owns and operates 13 ski resorts in Vail, Breckenridge, Keystone, and Beaver Creek in Colorado; Canyons and Park City in Utah; Heavenly, Northstar, and Kirkland in Lake Tahoe, Perisher in Australia and three U.S. regional resorts.
Consumer Discretionary 10.0%
Hyatt Hotels Corp. (H) is a global hospitality company with 599 Hyatt-branded properties representing 159,336 keys. The company’s brands include Park Hyatt, Grand Hyatt, Hyatt Regency, Hyatt, Hyatt Place, and Hyatt Summerfield Suite.
Consumer Discretionary 8.8%
CoStar Group, Inc. (CSGP) is the leading provider of information and marketing services to the commercial real estate industry.
Information Technology 8.7%
FactSet Research Systems, Inc. (FDS) provides financial information to the global investment community.
Financials 6.7%
Manchester United plc (MANU) is an English Premier League professional sports team. The team generates revenue from broadcasting, sponsorship, and licensing.
Consumer Discretionary 5.3%
Benefitfocus, Inc. (BNFT) is a leading provider of cloud-based benefits software for consumers, employers, insurance carriers, and brokers. The company offers an integrated suite of solutions to help customers more efficiently shop, enroll, manage, and exchange benefits information.
Information Technology 4.6%
Arch Capital Group Ltd. (ACGL) is a specialty insurance and reinsurance company with operations in Bermuda, the U.S., Europe, and Canada.
Financials 4.1%
Inovalon Holdings, Inc. (INOV) is a health care data and analytics company. The company combines advanced analytics with data-driven intervention platforms to achieve meaningful insight and improvement in clinical and quality outcomes, utilization, and financial performance across the health care landscape.
Health Care 4.1%
Iridium Communications Inc. (IRDM) provides mobile voice and data communications services to businesses, U.S. and foreign governments, non-governmental organizations, and consumers using a constellation of low-earth orbiting satellites.
Telecommunication Services 4.0%
Total 67.6%
Back to Top

Portfolio Holdings as of March 31, 2016

Holding Sector Market Cap ($Bn) Percentage*
Tesla Motors, Inc. Consumer Discretionary $30.343 11.6%
Vail Resorts, Inc. Consumer Discretionary $4.847 10.2%
Hyatt Hotels Corp. Consumer Discretionary $6.713 9.4%
CoStar Group, Inc. Information Technology $6.118 7.9%
PRINCIPAL CASH Cash & Cash Equivalents - 7.0%
FactSet Research Systems, Inc. Financials $6.242 6.4%
Choice Hotels International, Inc. Consumer Discretionary $3.047 4.5%
Manchester United plc Consumer Discretionary $2.366 4.5%
Benefitfocus, Inc. Information Technology $0.974 4.2%
Arch Capital Group Ltd. Financials $8.680 4.0%
Iridium Communications Inc. - Pfd Telecommunication Services $0.752 3.7%
Inovalon Holdings, Inc. Cl A Health Care $2.810 3.6%
Financial Engines, Inc. Financials $1.936 3.5%
Guidewire Software, Inc. Information Technology $3.926 3.1%
CaesarStone Sdot-Yam Ltd. Industrials $1.209 3.1%
Fastenal Co. Industrials $14.138 2.7%
Verisk Analytics, Inc. Industrials $13.429 2.7%
Church & Dwight Co., Inc. Consumer Staples $11.823 2.6%
The Carlyle Group Financials $1.373 2.5%
Dick's Sporting Goods, Inc. Consumer Discretionary $5.373 1.6%
Virtu Financial, Inc. Class A Financials $3.069 1.2%
Total 100.0%
Back to Top

Sector Breakdown as of May 31, 2016

Sector Sub-Industry Percentage*
Cash & Cash Equivalents
7.6%
Consumer Discretionary
  • Hotels, Resorts & Cruise Lines 12.6%
  • Automobile Manufacturers 11.3%
  • Leisure Facilities 10.0%
  • Movies & Entertainment 5.3%
39.2%
Consumer Staples
  • Household Products 2.8%
2.8%
Financials
  • Specialized Finance 6.7%
  • Asset Management & Custody Banks 5.1%
  • Property & Casualty Insurance 4.1%
  • Investment Banking & Brokerage 1.0%
16.8%
Health Care
  • Health Care Technology 4.1%
4.1%
Industrials
  • Building Products 3.5%
  • Research & Consulting Services 2.7%
  • Trading Companies & Distributors 2.6%
8.8%
Information Technology
  • Internet Software & Services 13.3%
  • Application Software 3.3%
16.7%
Telecommunication Services
  • Alternative Carriers 4.0%
4.0%
Back to Top

Top Contributors & Detractors as of March 31, 2016

3 Months | 12 Months

3 Months

By Sub-Industry
Top Contributors Average Weight Contribution
Hotels, Resorts & Cruise Lines 12.82% 1.61%
Leisure Facilities 10.17% 0.68%
Specialty Stores 1.88% 0.63%
Trading Companies & Distributors 2.59% 0.58%
Health Care Technology 3.09% 0.33%
Top Detractors Average Weight Contribution
Internet Software & Services 11.98% -1.27%
Movies & Entertainment 4.90% -1.14%
Application Software 3.32% -0.67%
Building Products 3.12% -0.65%
Specialized Finance 6.70% -0.44%
By Holdings
Top Contributors Average Weight Contribution
Hyatt Hotels Corp. 8.53% 1.11%
Vail Resorts, Inc. 10.17% 0.68%
Dick's Sporting Goods, Inc. 1.88% 0.63%
Fastenal Co. 2.59% 0.58%
Choice Hotels International, Inc. 4.29% 0.50%
Top Detractors Average Weight Contribution
Manchester United plc 4.90% -1.14%
CoStar Group, Inc. 7.97% -0.85%
CaesarStone Sdot-Yam Ltd. 3.12% -0.65%
FactSet Research Systems, Inc. 6.70% -0.44%
Guidewire Software, Inc. 3.19% -0.44%

12 Months

By Sub-Industry
Top Contributors Average Weight Contribution
Leisure Facilities 8.38% 2.54%
Automobile Manufacturers 10.14% 1.34%
Trading Companies & Distributors 2.29% 0.63%
Industrial Gases 1.00% 0.54%
Property & Casualty Insurance 3.72% 0.47%
Top Detractors Average Weight Contribution
Asset Management & Custody Banks 6.66% -2.14%
Building Products 3.12% -1.71%
Railroads 1.77% -1.24%
Internet Software & Services 11.94% -0.97%
Automotive Retail 3.05% -0.95%
By Holdings
Top Contributors Average Weight Contribution
Vail Resorts, Inc. 8.38% 2.54%
Tesla Motors, Inc. 10.14% 1.34%
Fastenal Co. 2.29% 0.63%
Airgas, Inc. 1.00% 0.54%
Arch Capital Group Ltd. 3.72% 0.47%
Top Detractors Average Weight Contribution
CaesarStone Sdot-Yam Ltd. 3.12% -1.71%
Genesee & Wyoming, Inc. 1.77% -1.24%
Financial Engines, Inc. 3.74% -1.18%
Mobileye N.V. 1.43% -1.18%
The Carlyle Group 2.92% -0.96%
Back to Top

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.