Baron Growth Fund (BGRFX)
- Facts & Characteristics
- Top Ten Holdings
- Portfolio Holdings
- Sector Breakdown
- Top Contributors & Detractors
Fund Description
Baron Growth Fund invests primarily in small growth companies.
Fund Resources
Review and Outlook
Ron Baron on investing in small companies.
Latest Fact Sheets
Expanded Fact Sheet - Retail Shares
Facts & Characteristics as of March 31, 2013
| Inception Date | December 31, 1994 |
| Net Assets (All share classes combined as of 4/30/2013) | $6.68 billion |
| # of Equity Securities / % of Net Assets | 100/95.9% |
| Turnover (3 Year Average) | 11.59% |
| Median Market Cap | $2.49 billion |
| Weighted Average Market Cap | $3.92 billion |
| CUSIP | 068278209 |
| Expense Ratio (as of FYE 09/12)* | 1.32% |
| EPS Growth (3-5 year forecast)† | 15.4% |
| Price/Earnings Ratio (trailing 12-month)*† | 22.4 |
| Price/Book Ratio*† | 2.9 |
| Price/Sales Ratio*† | 1.6 |
Top Ten Holdings as of April 30, 2013
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| Holding | Sector | Percentage* |
|---|---|---|
|
Arch Capital Group Ltd. (ACGL) writes insurance and reinsurance (insurance purchased from other insurers) through operations in Bermuda, the U.S., Europe and Canada.
|
Financials | 3.3% |
|
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 | 3.1% |
|
LKQ Corp. (LKQ) is the largest distributor of recycled and aftermarket vehicle parts in the U.S.
|
Consumer Discretionary | 3.0% |
|
Dick’s Sporting Goods, Inc. (DKS) is a full-line sporting goods retailer offering brand-name sporting goods equipment, apparel, and footwear in a specialty-store environment.
|
Consumer Discretionary | 3.0% |
|
Community Health Systems, Inc. (CYH) is one of the nation’s largest publicly traded hospital companies and a leading operator of general acute care facilities in non-urban and mid-sized markets.
|
Health Care | 2.7% |
|
ANSYS, Inc. (ANSS) is the market leader in simulation-driven product development.
|
Information Technology | 2.6% |
|
Genesee & Wyoming, Inc. (GWR) owns and operates short-line and regional freight railroads in the United States, Canada, Australia, and the Netherlands.
|
Industrials | 2.5% |
|
Gartner, Inc. (IT) is the leading independent provider of research and analysis on the information technology industry.
|
Information Technology | 2.5% |
|
Penn National Gaming, Inc. (PENN) is the largest and most diversified regional casino operator of riverboat resorts in America with 19 facilities in 15 jurisdictions.
|
Consumer Discretionary | 2.3% |
|
FactSet Research Systems, Inc. (FDS) provides financial information to the global investment community.
|
Information Technology | 2.3% |
| Total | 27.3% | |
Portfolio Holdings as of March 31, 2013
| Holding | Sector | Market Cap ($Bn) | Percentage* |
|---|---|---|---|
| Cash & Cash Equivalents | Cash & Cash Equivalents | - | 4.1% |
| Arch Capital Group Ltd. | Financials | $6.989 | 3.3% |
| ITC Holdings Corp. | Utilities | $4.666 | 3.0% |
| Community Health Systems, Inc. | Health Care | $4.368 | 2.9% |
| Dick's Sporting Goods, Inc. | Consumer Discretionary | $5.818 | 2.9% |
| Genesee & Wyoming, Inc. | Industrials | $4.384 | 2.8% |
| LKQ Corp. | Consumer Discretionary | $6.493 | 2.8% |
| ANSYS, Inc. | Information Technology | $7.567 | 2.6% |
| Gartner, Inc. | Information Technology | $5.080 | 2.3% |
| FactSet Research Systems, Inc. | Information Technology | $4.092 | 2.2% |
| Penn National Gaming, Inc. | Consumer Discretionary | $4.230 | 2.2% |
| Copart, Inc. | Industrials | $4.298 | 2.1% |
| The Middleby Corp. | Industrials | $2.859 | 2.0% |
| Choice Hotels International, Inc. | Consumer Discretionary | $2.471 | 1.9% |
| Vail Resorts, Inc. | Consumer Discretionary | $2.238 | 1.9% |
| Under Armour, Inc. | Consumer Discretionary | $5.364 | 1.9% |
| Mettler-Toledo International, Inc. | Health Care | $6.462 | 1.8% |
| Generac Holdings, Inc. | Industrials | $2.413 | 1.8% |
| MAXIMUS, Inc. | Information Technology | $2.726 | 1.8% |
| CoStar Group, Inc. | Information Technology | $3.102 | 1.7% |
| Colfax Corp. | Industrials | $4.378 | 1.6% |
| Core Laboratories N.V. | Energy | $6.376 | 1.6% |
| DeVry, Inc. | Consumer Discretionary | $2.006 | 1.6% |
| MSCI, Inc. | Financials | $4.079 | 1.6% |
| Church & Dwight Co., Inc. | Consumer Staples | $8.919 | 1.5% |
| United Natural Foods, Inc. | Consumer Staples | $2.426 | 1.5% |
| SS&C Technologies Holdings, Inc. | Information Technology | $2.376 | 1.4% |
| Douglas Emmett, Inc. | Financials | $3.552 | 1.3% |
| IDEXX Laboratories, Inc. | Health Care | $5.043 | 1.3% |
| Morningstar, Inc. | Consumer Discretionary | $3.246 | 1.3% |
| TreeHouse Foods, Inc. | Consumer Staples | $2.358 | 1.3% |
| Targa Resources Corp. | Energy | $2.877 | 1.3% |
| TOTVS SA | Information Technology | $3.313 | 1.2% |
| Lumber Liquidators Holdings, Inc. | Consumer Discretionary | $1.908 | 1.2% |
| Primerica, Inc. | Financials | $1.851 | 1.2% |
| Booz Allen Hamilton Holding Corp. | Information Technology | $1.960 | 1.2% |
| CFR Pharmaceuticals SA | Health Care | $2.169 | 1.2% |
| Cohen & Steers, Inc. | Financials | $1.595 | 1.1% |
| Panera Bread Co. | Consumer Discretionary | $4.886 | 1.1% |
| SEACOR Holdings, Inc. | Energy | $1.465 | 0.9% |
| Concur Technologies, Inc. | Information Technology | $3.819 | 0.9% |
| Cymer, Inc. | Information Technology | $3.021 | 0.9% |
| Eaton Vance Corp. | Financials | $5.038 | 0.9% |
| TECHNE Corp. | Health Care | $2.500 | 0.9% |
| Valmont Industries, Inc. | Industrials | $4.197 | 0.9% |
| Air Lease Corp. | Industrials | $2.969 | 0.9% |
| The Carlyle Group | Financials | $1.308 | 0.9% |
| Advent Software, Inc. | Information Technology | $1.412 | 0.8% |
| Alexandria Real Estate Equities, Inc. | Financials | $4.524 | 0.8% |
| Ameristar Casinos, Inc. | Consumer Discretionary | $0.865 | 0.8% |
| Helmerich & Payne, Inc. | Energy | $6.451 | 0.8% |
| Alexander's, Inc. | Financials | $1.683 | 0.7% |
| CARBO Ceramics, Inc. | Energy | $2.107 | 0.7% |
| SBA Communications Corp. | Telecommunication Services | $9.143 | 0.7% |
| Financial Engines, Inc. | Financials | $1.741 | 0.7% |
| Pegasystems, Inc. | Information Technology | $1.065 | 0.7% |
| Oaktree Capital Group, LLC | Financials | $1.540 | 0.7% |
| Manchester United plc | Consumer Discretionary | $2.742 | 0.7% |
| IHS, Inc. | Industrials | $6.884 | 0.6% |
| LaSalle Hotel Properties | Financials | $2.425 | 0.6% |
| MSC Industrial Direct Co., Inc. | Industrials | $5.417 | 0.6% |
| FEI Company | Information Technology | $2.487 | 0.6% |
| Interval Leisure Group, Inc. | Consumer Discretionary | $1.237 | 0.6% |
| Edwards Lifesciences Corp. | Health Care | $9.375 | 0.5% |
| Guidewire Software, Inc. | Information Technology | $2.170 | 0.5% |
| American Campus Communities, Inc. | Financials | $4.746 | 0.4% |
| Landstar System, Inc. | Industrials | $2.654 | 0.4% |
| Penske Automotive Group, Inc. | Consumer Discretionary | $3.013 | 0.4% |
| Tetra Tech, Inc. | Industrials | $1.967 | 0.4% |
| SM Energy Co. | Energy | $3.921 | 0.4% |
| Cia. Hering SA | Consumer Discretionary | $2.934 | 0.4% |
| RealPage, Inc. | Information Technology | $1.569 | 0.4% |
| Zillow, Inc. | Financials | $1.856 | 0.4% |
| CaesarStone Sdot-Yam Ltd. | Materials | $0.881 | 0.4% |
| Pinnacle Entertainment, Inc. | Consumer Discretionary | $0.854 | 0.3% |
| Whistler Blackcomb Holdings, Inc. | Consumer Discretionary | $0.502 | 0.3% |
| American Assets Trust, Inc. | Financials | $1.270 | 0.3% |
| LivePerson, Inc. | Information Technology | $0.758 | 0.2% |
| Leucadia National Corp. | Financials | $6.709 | 0.2% |
| Kerzner International Holdings Ltd. | Consumer Discretionary | - | 0.2% |
| Mistras Group, Inc. | Industrials | $0.682 | 0.2% |
| Brookdale Senior Living, Inc. | Health Care | $3.422 | 0.1% |
| IPC The Hospitalist Co., Inc. | Health Care | $0.745 | 0.1% |
| The Boston Beer Company, Inc. | Consumer Staples | $2.054 | 0.1% |
| Seaspan Corporation | Industrials | $1.264 | 0.1% |
| VCA Antech, Inc. | Health Care | $2.076 | 0.1% |
| Windy City Investments Holdings, L.L.C. | Financials | - | 0.1% |
| Neogen Corp. | Health Care | $1.183 | 0.1% |
| Denbury Resources, Inc. | Energy | $6.965 | 0.1% |
| Oasis Petroleum, Inc. | Energy | $3.564 | 0.1% |
| Intrepid Potash, Inc. | Materials | $1.417 | 0.1% |
| Agrinos AS | Materials | $0.168 | 0.1% |
| Manning & Napier, Inc. | Financials | $0.225 | 0.1% |
| Ceres, Inc. | Energy | $0.086 | 0.1% |
| Castlight Health Inc. | Health Care | - | 0.1% |
| Marriott Vacations Worldwide Corp. | Consumer Discretionary | $1.508 | 0.1% |
| MPLX LP | Energy | $2.768 | 0.1% |
| Bright Horizons Family Solutions, Inc. | Consumer Discretionary | $2.181 | 0.1% |
| Era Group Inc. | Energy | $0.417 | 0.1% |
| Myriad Genetics, Inc. | Health Care | $2.047 | 0.1% |
| Windy City Investments Holdings, L.L.C. | Financials | - | 0.0% |
| 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
|
12 Months
Download Qtr-end GICS Sub-Industry Breakdown (Inst Shares)
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3 Months
| By Sub-Industry | ||
|---|---|---|
| Top Contributors | Average Weight | Contribution |
| Application Software | 9.44% | 1.49% |
| Health Care Facilities | 2.77% | 1.17% |
| Asset Management & Custody Banks^ | 4.59% | 0.98% |
| Industrial Machinery | 4.56% | 0.75% |
| IT Consulting & Other Services | 4.79% | 0.68% |
| Top Detractors | Average Weight | Contribution |
| Food Distributors | 1.70% | -0.15% |
| Fertilizers & Agricultural Chemicals | 0.24% | -0.09% |
| Apparel Retail | 0.46% | -0.06% |
| Health Care Equipment | 1.92% | -0.05% |
| Coal & Consumable Fuels | 0.08% | -0.02% |
| By Holdings | ||
|---|---|---|
| Top Contributors | Average Weight | Contribution |
| Community Health Systems, Inc. | 2.56% | 1.14% |
| Genesee & Wyoming, Inc. | 2.79% | 0.60% |
| Arch Capital Group Ltd. | 3.18% | 0.59% |
| ANSYS, Inc. | 2.58% | 0.52% |
| ITC Holdings Corp. | 2.97% | 0.48% |
| Top Detractors | Average Weight | Contribution |
| United Natural Foods, Inc. | 1.70% | -0.15% |
| Agrinos AS | 0.13% | -0.08% |
| Cia. Hering SA | 0.46% | -0.06% |
| Edwards Lifesciences Corp. | 0.57% | -0.05% |
| Booz Allen Hamilton Holding Corp. | 1.32% | -0.04% |
12 Months
| By Sub-Industry | ||
|---|---|---|
| Top Contributors | Average Weight | Contribution |
| IT Consulting & Other Services^ | 5.82% | 2.52% |
| Health Care Facilities | 2.27% | 1.94% |
| Industrial Machinery | 3.95% | 1.68% |
| Asset Management & Custody Banks^ | 3.81% | 1.50% |
| Railroads | 2.30% | 1.48% |
| Top Detractors | Average Weight | Contribution |
| Education Services | 2.11% | -0.69% |
| Oil & Gas Equipment & Services | 3.84% | -0.56% |
| Oil & Gas Exploration & Production | 1.05% | -0.51% |
| Independent Power Producers & Energy Traders^ | 0.20% | -0.44% |
| Consumer Finance | 0.12% | -0.35% |
| By Holdings | ||
|---|---|---|
| Top Contributors | Average Weight | Contribution |
| Community Health Systems, Inc. | 2.09% | 1.91% |
| Genesee & Wyoming, Inc. | 2.30% | 1.48% |
| Cymer, Inc. | 1.42% | 1.34% |
| Arch Capital Group Ltd. | 2.98% | 1.17% |
| Generac Holdings, Inc. | 1.62% | 1.15% |
| Top Detractors | Average Weight | Contribution |
| CARBO Ceramics, Inc. | 0.88% | -0.53% |
| Better Place, Inc. | 0.20% | -0.44% |
| SM Energy Co. | 0.52% | -0.42% |
| Strayer Education, Inc. | 0.59% | -0.38% |
| Pegasystems, Inc. | 0.75% | -0.35% |
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 Hodings 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.