Baron Focused Growth Fund (BFGIX)
- Facts & Characteristics
- Top Ten Holdings
- Portfolio Holdings
- Sector Breakdown
- Top Contributors & Detractors
Fund Description
Baron Focused Growth Fund invests in a focused portfolio of small and mid-size growth companies.
Fund Resources
Ron Baron on focused investing
Latest Fact Sheets
Facts & Characteristics as of March 31, 2013
| Inception Date | May 31, 1996 |
| Net Assets (All share classes combined as of 4/30/2013) | $146.56 million |
| # of Equity Securities / % of Net Assets | 28/94.0% |
| Turnover (3 Year Average) | 34.56% |
| Median Market Cap | $4.89 billion |
| Weighted Average Market Cap | $5.92 billion |
| CUSIP | 06828M504 |
| Gross Expense Ratio (as of FYE 12/11)* | 1.18% |
| Less: Reimbursement of Expenses by Adviser (as of FYE 12/11) | (0.08)% |
| Net Expense Ratio (as of FYE 12/11) | 1.10% |
| EPS Growth (3-5 year forecast)† | 14.2% |
| Price/Earnings Ratio (trailing 12-month)*† | 21.5 |
| Price/Book Ratio*† | 2.8 |
| Price/Sales Ratio*† | 1.7 |
Top Ten Holdings as of April 30, 2013
| Holding | Sector | Percentage* |
|---|---|---|
|
Hyatt Hotels Corp. (H) is a global hospitality company with 473 Hyatt branded properties representing 133,799 keys. The company’s brands include Park Hyatt, Grand Hyatt, Hyatt Regency, Hyatt, Hyatt Place, and Hyatt Summerfield Suites.
|
Consumer Discretionary | 7.0% |
|
ITC Holdings Corp. (ITC) is the nation’s largest independent electric transmission company, serving an area of approximately 90,000 square miles in seven states.
|
Utilities | 6.0% |
|
Genesee & Wyoming, Inc. (GWR) owns and operates short-line and regional freight railroads in the United States, Canada, Australia, and the Netherlands.
|
Industrials | 5.8% |
|
FactSet Research Systems, Inc. (FDS) provides financial information to the global investment community.
|
Information Technology | 5.8% |
|
Vail Resorts, Inc. (MTN) is the largest operator of ski resorts in North America. It owns and operates seven world class ski resorts in Vail, Breckenridge, Keystone, and Beaver Creek in Colorado; and Heavenly, Northstar, and the Kirkland property in Lake Tahoe.
|
Consumer Discretionary | 5.5% |
|
Verisk Analytics, Inc. (VRSK) provides information about risk to companies in the insurance, healthcare, and mortgage industries. Verisk enables risk-bearing businesses to better understand and manage their risks.
|
Industrials | 5.4% |
|
Colfax Corp. (CFX) is a diversified global industrial manufacturing and engineering company that provides gas- and fluid-handling products, and fabrication technology products.
|
Industrials | 5.0% |
|
CarMax, Inc. (KMX) is the nation’s largest retailer of used cars with over $10 billion in sales and 110 superstores.
|
Consumer Discretionary | 5.0% |
|
Manchester United plc (MANU), is an English Premier League professional sports team. The team generates revenue from broadcasting, sponsorship, and licensing.
|
Consumer Discretionary | 4.2% |
|
Fastenal Co. (FAST) is a leading distributor of industrial supplies to manufacturers and contractors throughout North America. The company specializes in the sale of nuts, bolts, and threaded fasteners through a network of 2,600 branch based stores.
|
Industrials | 4.0% |
| Total | 53.7% | |
Portfolio Holdings as of April 30, 2013
| Holding | Sector | Market Cap ($Bn) | Percentage* |
|---|---|---|---|
| Hyatt Hotels Corp. | Consumer Discretionary | $6.917 | 7.0% |
| ITC Holdings Corp. | Utilities | $4.826 | 6.0% |
| FactSet Research Systems, Inc. | Information Technology | $4.137 | 5.8% |
| Genesee & Wyoming, Inc. | Industrials | $4.012 | 5.8% |
| Vail Resorts, Inc. | Consumer Discretionary | $2.165 | 5.5% |
| Verisk Analytics, Inc. | Industrials | $10.305 | 5.4% |
| Colfax Corp. | Industrials | $4.393 | 5.0% |
| CarMax, Inc. | Consumer Discretionary | $10.336 | 5.0% |
| Manchester United plc | Consumer Discretionary | $2.943 | 4.2% |
| Airgas, Inc. | Materials | $7.337 | 4.0% |
| Choice Hotels International, Inc. | Consumer Discretionary | $2.281 | 4.0% |
| Fastenal Co. | Industrials | $14.553 | 4.0% |
| Dick's Sporting Goods, Inc. | Consumer Discretionary | $5.917 | 3.9% |
| American Campus Communities, Inc. | Financials | $4.672 | 3.7% |
| Arch Capital Group Ltd. | Financials | $7.055 | 3.6% |
| MSCI, Inc. | Financials | $4.100 | 3.5% |
| The Carlyle Group | Financials | $1.405 | 3.3% |
| Helmerich & Payne, Inc. | Energy | $6.230 | 3.0% |
| Eaton Vance Corp. | Financials | $4.804 | 2.7% |
| Penn National Gaming, Inc. | Consumer Discretionary | $4.550 | 2.5% |
| Pinnacle Entertainment, Inc. | Consumer Discretionary | $1.113 | 2.5% |
| Church & Dwight Co., Inc. | Consumer Staples | $8.817 | 2.2% |
| Henry Schein, Inc. | Health Care | $7.917 | 2.1% |
| Mettler-Toledo International, Inc. | Health Care | $6.333 | 2.1% |
| ANSYS, Inc. | Information Technology | $7.515 | 1.4% |
| C.H. Robinson Worldwide, Inc. | Industrials | $9.565 | 1.2% |
| Agrinos AS | Materials | $0.155 | 0.5% |
| Cash & Cash Equivalents | Cash & Cash Equivalents | - | 0.1% |
| 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 |
| Hotels, Resorts & Cruise Lines | 11.06% | 1.83% |
| Railroads | 6.53% | 1.39% |
| Asset Management & Custody Banks | 5.85% | 1.32% |
| Research & Consulting Services | 5.43% | 1.09% |
| Electric Utilities | 5.29% | 0.85% |
| Top Detractors | Average Weight | Contribution |
| Fertilizers & Agricultural Chemicals | 0.91% | -0.54% |
| IT Consulting & Other Services | 3.09% | -0.19% |
| Air Freight & Logistics | 1.39% | -0.08% |
| Residential REITs | 3.53% | -0.01% |
| By Holdings | ||
|---|---|---|
| Top Contributors | Average Weight | Contribution |
| Genesee & Wyoming, Inc. | 6.53% | 1.39% |
| Verisk Analytics, Inc. | 5.43% | 1.09% |
| Choice Hotels International, Inc. | 4.21% | 1.03% |
| ITC Holdings Corp. | 5.29% | 0.85% |
| Hyatt Hotels Corp. | 6.85% | 0.79% |
| Top Detractors | Average Weight | Contribution |
| Agrinos AS | 0.91% | -0.54% |
| Booz Allen Hamilton Holding Corp. | 3.09% | -0.19% |
| C.H. Robinson Worldwide, Inc. | 1.39% | -0.08% |
| American Campus Communities, Inc. | 3.53% | -0.01% |
12 Months
| By Sub-Industry | ||
|---|---|---|
| Top Contributors | Average Weight | Contribution |
| Railroads | 5.97% | 3.79% |
| Industrial Machinery | 3.59% | 3.13% |
| Semiconductor Equipment | 2.28% | 2.74% |
| Asset Management & Custody Banks | 4.60% | 2.51% |
| Hotels, Resorts & Cruise Lines | 10.97% | 2.24% |
| Top Detractors | Average Weight | Contribution |
| Internet Retail | 1.08% | -1.22% |
| Application Software | 5.99% | -1.11% |
| Systems Software | 2.10% | -1.04% |
| Oil & Gas Exploration & Production | 0.43% | -1.00% |
| Coal & Consumable Fuels | 0.45% | -0.94% |
| By Holdings | ||
|---|---|---|
| Top Contributors | Average Weight | Contribution |
| Genesee & Wyoming, Inc. | 5.97% | 3.79% |
| Colfax Corp. | 3.59% | 3.13% |
| Cymer, Inc. | 2.28% | 2.74% |
| Choice Hotels International, Inc. | 4.52% | 2.22% |
| AMERIGROUP Corp. | 1.34% | 2.13% |
| Top Detractors | Average Weight | Contribution |
| Netflix, Inc. | 1.08% | -1.22% |
| Pegasystems, Inc. | 1.12% | -1.19% |
| MICROS Systems, Inc. | 2.10% | -1.04% |
| SM Energy Co. | 0.43% | -1.00% |
| Ceres, Inc. | 0.45% | -0.94% |
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.