Baron Global Advantage Fund (BGAIX)

Invest In Baron Funds Today

Fund Description

Baron Global Advantage Fund invests in growth companies of all sizes anywhere.

  

Facts & Characteristics as of December 31, 2015

Inception Date April 30, 2012
Net Assets (All share classes combined) $11.52 million
# of Equity Securities / % of Net Assets 38/99.2%
Turnover (3 Year Average) 60.72%
Median Market Cap $6.23 billion
Weighted Average Market Cap $115.34 billion
CUSIP 06828M835
Gross Expense Ratio (as of FYE 12/14) 2.92%
Less: Reimbursement of Expenses by Adviser (as of FYE 12/14) (1.67)%
Net Expense Ratio (as of FYE 12/14) 1.25%
EPS Growth (3-5 year forecast) 28.4%
Price/Earnings Ratio (trailing 12- month) 30.1
Price/Book Ratio 3.6
Price/Sales Ratio 4.2

Top Ten Holdings as of January 31, 2016

Holding Sector Percentage*
Alphabet, Inc. (GOOG) is the new name for Google, Inc., a company that focuses on improving the ways people connect with information. The company provides a variety of services and tools for advertisers, primarily for search and display advertising.
Information Technology 9.8%
Amazon.com, Inc. (AMZN) is an e-commerce pioneer, innovator, and market share leader, with relentless focus on providing customers value and convenience. It also operates the industry-leading cloud infrastructure business in Amazon Web Services.
Consumer Discretionary 9.1%
Facebook, Inc. (FB) is the world's largest social network with over 1.25 billion active monthly users, 950 million mobile users, and 750 million daily active users.
Information Technology 8.3%
TAL Education Group (XRS) is a leading K-12 after school tutoring provider in China that currently operates 300+ learning centers in 19 cities.
Consumer Discretionary 5.7%
Naspers Limited (NPN.SJ)  is a South Africa-based Internet and media platform operator, offering services in more than 120 countries. Its main operations are in e-commerce (classifieds, marketplaces, and online retail, services, and payments), pay-TV, and print media.
Consumer Discretionary 4.0%
Constellation Software, Inc. (CSU.CN) is a holding company that owns and operates over 250 small and medium-sized software businesses. These software businesses allow customers across a wide range of verticals to automate mission-critical activities, with the goal of saving labor costs.
Information Technology 4.0%
Mellanox Technologies Ltd. (MLNX) is a supplier of high-performance switch systems, adapters, cables, and software supporting InfiniBand and Ethernet networking technologies.
Information Technology 3.8%
Alibaba Group Holding Ltd. (BABA) is the largest e-commerce company in the world. Alibaba owns and operates the two largest online shopping platforms in China, Taobao and Tmall. It also participates in the profits of Ant Financial, which owns Alipay, the largest 3rd party online payment provider in China.
Information Technology 3.7%
Worldpay Group (wpg.ln) provides technology solutions to merchants to enable them to accept electronic payments.  The company serves a diverse set of 400,000 merchants primarily in the U.K. and U.S.
Information Technology 3.7%
Sarana Menara Nusantara Tbk PT (TOWR.IJ) is the largest independent owner of wireless telecommunication towers in Indonesia. Wireless operators sublease space on towers for their network equipment. Sarana Menara owns 12,300 towers, making it one of the largest tower operators in Southeast Asia.
Telecommunication Services 3.7%
Total 55.8%
Back to Top

Portfolio Holdings as of December 31, 2015

Holding Sector Market Cap ($Bn) Percentage*
Amazon.com, Inc. Consumer Discretionary $316.832 9.1%
Alphabet, Inc. - Cl C Information Technology $527.961 8.7%
Facebook, Inc. Information Technology $295.978 6.7%
TAL Education Group - ADR Consumer Discretionary $3.714 6.2%
JUST EAT plc Information Technology $4.916 4.6%
Alibaba Group Holding Limited - ADR Information Technology $201.217 3.9%
Naspers Limited Consumer Discretionary $60.123 3.8%
Constellation Software, Inc. Information Technology $8.835 3.4%
Illumina, Inc. Health Care $28.101 3.3%
Sarana Menara Nusantara Tbk PT Telecommunication Services $3.516 3.3%
Worldpay Group PLC Information Technology $9.060 3.3%
Mellanox Technologies Ltd. Information Technology $1.973 3.0%
Mobileye N.V. Information Technology $9.162 3.0%
Ctrip.com International, Ltd. Consumer Discretionary $17.620 2.9%
Check Point Software Technologies Ltd. Information Technology $14.718 2.8%
Baidu, Inc. Information Technology $65.337 2.5%
Brookfield Infrastructure Partners L.P. Utilities $6.204 2.0%
Cetip SA - Mercados Organizados Financials $2.493 1.9%
FireEye, Inc. Information Technology $3.330 1.9%
Acxiom Corp. Information Technology $1.629 1.7%
The Priceline Group, Inc. Consumer Discretionary $63.472 1.7%
Allergan Inc. Health Care $123.164 1.6%
ASML Holding N.V. Information Technology $38.467 1.5%
Epam Systems Inc Information Technology $3.929 1.5%
Benefitfocus, Inc. Information Technology $1.061 1.4%
Glaukos Corporation Health Care $0.793 1.4%
athenahealth, Inc. Health Care $6.251 1.3%
Tower Bersama Infrastructure Tbk PT Telecommunication Services $2.044 1.3%
ARM Holdings plc Information Technology $21.524 1.3%
Qunar Cayman Islands Ltd. - ADR Consumer Discretionary $6.950 1.3%
TerraForm Global, Inc. Cl - A-RESTRICTED Utilities $0.995 1.3%
ICICI Bank Limited - ADR Financials $22.755 1.2%
Smiles SA Consumer Discretionary $1.083 1.2%
Westlake Chemical Partners LP Materials $0.600 1.2%
PRINCIPAL CASH Cash & Cash Equivalents - 0.8%
Pacira Pharmaceuticals, Inc. Health Care $2.823 0.6%
Aerie Pharmaceuticals, Inc. Health Care $0.642 0.5%
Columbia Pipeline Partners LP Energy $1.759 0.5%
Just Dial Ltd. Information Technology $0.898 0.4%
Total 100.0%
Back to Top

Sector Breakdown as of January 31, 2016

Sector Sub-Industry Percentage*
Cash & Cash Equivalents
1.2%
Consumer Discretionary
  • Internet Retail 13.9%
  • Education Services 5.7%
  • Cable & Satellite 4.0%
23.6%
Energy
  • Oil & Gas Storage & Transportation 0.5%
0.5%
Financials
  • Asset Management & Custody Banks 2.3%
2.3%
Health Care
  • Pharmaceuticals 4.5%
  • Life Sciences Tools & Services 3.1%
  • Health Care Technology 1.6%
  • Health Care Equipment 1.1%
10.2%
Information Technology
  • Internet Software & Services 29.1%
  • Application Software 6.3%
  • Semiconductors 5.2%
  • Systems Software 4.7%
  • IT Consulting & Other Services 3.8%
  • Data Processing and Outsourced Services 3.7%
  • Semiconductor Equipment 1.7%
54.6%
Materials
  • Commodity Chemicals 1.2%
1.2%
Telecommunication Services
  • Wireless Telecommunication Services 5.2%
5.2%
Utilities
  • Renewable Electricity 1.2%
1.2%
Back to Top

Country Breakdown As of January 31, 2016

Country Breakdown
Developed % of Net Assets
Canada 4.0%
Israel 9.1%
Netherlands 1.8%
United Kingdom 8.4%
United States 48.7%
Country Breakdown
Developing % of Net Assets
Brazil 2.3%
China 15.0%
India 0.3%
Indonesia 5.2%
South Africa 4.0%
Back to Top

Top Contributors & Detractors as of December 31, 2015

3 Months | 12 Months

3 Months

By Sub-Industry
Top Contributors Average Weight Contribution
Internet Software & Services 26.87% 5.53%
Internet Retail 14.96% 4.84%
Education Services 5.41% 1.95%
Wireless Telecommunication Services 4.38% 0.68%
Data Processing and Outsourced Services 2.68% 0.62%
Top Detractors Average Weight Contribution
Systems Software 5.10% -0.93%
Semiconductor Equipment 2.41% -0.61%
Renewable Electricity 2.04% -0.21%
Oil & Gas Storage & Transportation 1.76% -0.20%
Application Software 6.65% -0.15%
By Holdings
Top Contributors Average Weight Contribution
Amazon.com, Inc. 8.46% 2.32%
TAL Education Group 5.41% 1.95%
Alphabet Inc. 8.17% 1.82%
Qunar Cayman Islands Ltd. 1.81% 1.49%
Alibaba Group Holding Limited 3.78% 1.17%
Top Detractors Average Weight Contribution
FireEye, Inc. 2.25% -1.01%
SunEdison, Inc. 0.92% -0.64%
Tallgrass Energy GP, LP 1.03% -0.26%
Mobileye N.V. 3.18% -0.17%
TerraForm Global, Inc. 1.41% -0.15%

12 Months

By Sub-Industry
Top Contributors Average Weight Contribution
Internet Retail 13.48% 7.84%
Internet Software & Services 23.27% 3.76%
Education Services 3.25% 2.22%
Data Processing and Outsourced Services 0.68% 0.62%
Semiconductors 4.77% 0.21%
Top Detractors Average Weight Contribution
Renewable Electricity 3.33% -3.52%
Semiconductor Equipment 5.06% -3.26%
Systems Software 3.61% -2.03%
Oil & Gas Storage & Transportation 4.74% -1.64%
Wireless Telecommunication Services 6.58% -1.27%
By Holdings
Top Contributors Average Weight Contribution
Amazon.com, Inc. 7.13% 5.33%
TAL Education Group 3.25% 2.22%
Alphabet Inc. 5.42% 2.13%
JUST EAT plc 4.35% 1.75%
Qunar Cayman Islands Ltd. 2.01% 1.68%
Top Detractors Average Weight Contribution
SunEdison, Inc. 3.52% -3.03%
TerraForm Global, Inc. 1.32% -2.37%
FireEye, Inc. 1.03% -2.07%
Tower Bersama Infrastructure Tbk PT 2.24% -1.20%
TerraForm Power, Inc. 2.01% -1.15%
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. 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.