Baron Growth Fund (BGRFX)

Invest In Baron Funds Today

Fund Description

Baron Growth Fund invests primarily in small growth companies.

   

  

Facts & Characteristics as of March 31, 2014

Inception Date December 31, 1994
Net Assets (All share classes combined) $8.47 billion
# of Equity Securities / % of Net Assets 103/95.7%
Turnover (3 Year Average) 10.60%
Median Market Cap $3.04 billion
Weighted Average Market Cap $4.68 billion
CUSIP 068278209
Expense Ratio (as of FYE 09/13)* 1.30%
EPS Growth (3-5 year forecast) 15.0%
Price/Earnings Ratio (trailing 12-month) 23.9
Price/Book Ratio 3.4
Price/Sales Ratio 1.9

Top Ten Holdings as of March 31, 2014

Download Attribution Analysis for Institutional Share Class
Holding Sector Percentage*
Under Armour, Inc. (UA) is a leading designer, developer, marketer, and distributor of athletic and performance apparel.
Consumer Discretionary 3.0%
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 3.0%
Arch Capital Group Ltd. (ACGL) is a specialty insurance and reinsurance company with operations in Bermuda, the U.S., Europe, and Canada.
Financials 2.8%
The Middleby Corp. (MIDD) designs, manufactures, markets, and services a broad line of equipment for use in cooking and preparing food. The products are used in residential, commercial, and industrial kitchens around the world.
Industrials 2.6%
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 2.6%
Gartner, Inc. (IT) is the leading independent provider of research and analysis on the information technology industry.
Information Technology 2.3%
Genesee & Wyoming, Inc. (GWR) owns and operates short-line and regional freight railroads in the United States, Canada, Australia, and the Netherlands. It owns and operates over 100 rail properties representing 15,000 miles of track. It is the only public short-line railroad in the U.S.
Industrials 2.3%
Generac Holdings, Inc. (GNRC) is a leading designer and manufacturer of standby generators for the residential, industrial, and commercial markets.
Industrials 2.3%
CoStar Group, Inc. (CSGP) is the leading provider of information and marketing services to the commercial real estate industry.
Information Technology 2.2%
FactSet Research Systems, Inc. (FDS) provides financial information to the global investment community.
Information Technology 2.0%
Total 25.1%
Back to Top

Portfolio Holdings as of March 31, 2014

Holding Sector Market Cap ($Bn) Percentage*
Cash & Cash Equivalents Cash & Cash Equivalents - 4.3%
ITC Holdings Corp. Utilities $5.885 3.0%
Under Armour, Inc. Consumer Discretionary $12.132 3.0%
Arch Capital Group Ltd. Financials $7.713 2.8%
Dick's Sporting Goods, Inc. Consumer Discretionary $6.869 2.6%
The Middleby Corp. Industrials $5.085 2.6%
Genesee & Wyoming, Inc. Industrials $5.205 2.3%
Gartner, Inc. Information Technology $6.386 2.3%
Generac Holdings, Inc. Industrials $4.056 2.3%
CoStar Group, Inc. Information Technology $5.388 2.2%
FactSet Research Systems, Inc. Information Technology $4.571 2.0%
Colfax Corp. Industrials $8.810 1.9%
United Natural Foods, Inc. Consumer Staples $3.519 1.9%
Core Laboratories N.V. Energy $8.903 1.8%
Community Health Systems, Inc. Health Care $4.443 1.8%
LKQ Corp. Consumer Discretionary $7.952 1.8%
ANSYS, Inc. Information Technology $7.127 1.8%
Copart, Inc. Industrials $4.580 1.7%
Vail Resorts, Inc. Consumer Discretionary $2.519 1.7%
Choice Hotels International, Inc. Consumer Discretionary $2.682 1.6%
MSCI, Inc. Financials $5.019 1.6%
Booz Allen Hamilton Holding Corp. Information Technology $3.278 1.6%
MAXIMUS, Inc. Information Technology $3.044 1.6%
Mettler-Toledo International, Inc. Health Care $6.909 1.5%
SS&C Technologies Holdings, Inc. Information Technology $3.399 1.5%
TreeHouse Foods, Inc. Consumer Staples $2.629 1.5%
Primerica, Inc. Financials $2.590 1.5%
Gaming and Leisure Properties, Inc. Financials $4.044 1.5%
Targa Resources Corp. Energy $4.186 1.4%
IDEXX Laboratories, Inc. Health Care $6.253 1.3%
Lumber Liquidators Holdings, Inc. Consumer Discretionary $2.577 1.3%
Church & Dwight Co., Inc. Consumer Staples $9.481 1.2%
Douglas Emmett, Inc. Financials $3.886 1.1%
Helmerich & Payne, Inc. Energy $11.566 1.1%
Morningstar, Inc. Consumer Discretionary $3.532 1.1%
CaesarStone Sdot-Yam Ltd. Materials $1.889 1.1%
Manchester United plc Consumer Discretionary $2.824 1.1%
Concur Technologies, Inc. Information Technology $5.610 1.0%
Cohen & Steers, Inc. Financials $1.783 1.0%
DeVry Education Group Inc. Consumer Discretionary $2.685 1.0%
CFR Pharmaceuticals SA Health Care $1.690 1.0%
Bright Horizons Family Solutions, Inc. Consumer Discretionary $2.571 1.0%
DreamWorks Animation SKG, Inc. Consumer Discretionary $2.225 0.9%
Panera Bread Co. Consumer Discretionary $4.893 0.9%
TECHNE Corp. Health Care $3.150 0.9%
Air Lease Corp. Industrials $3.800 0.9%
Interval Leisure Group, Inc. Consumer Discretionary $1.501 0.9%
Pinnacle Entertainment, Inc. Consumer Discretionary $1.403 0.8%
FEI Company Information Technology $4.352 0.8%
Oaktree Capital Group, LLC Financials $2.528 0.8%
The Carlyle Group Financials $2.252 0.8%
Advent Software, Inc. Information Technology $1.509 0.7%
Alexandria Real Estate Equities, Inc. Financials $5.198 0.7%
SEACOR Holdings, Inc. Energy $1.762 0.7%
Valmont Industries, Inc. Industrials $3.996 0.7%
Financial Engines, Inc. Financials $2.590 0.7%
Pegasystems, Inc. Information Technology $1.347 0.7%
The Container Store Group, Inc. Consumer Discretionary $1.627 0.7%
AO plc Consumer Discretionary $2.204 0.7%
Alexander's, Inc. Financials $1.843 0.6%
Eaton Vance Corp. Financials $4.684 0.6%
LaSalle Hotel Properties Financials $3.256 0.6%
Penn National Gaming, Inc. Consumer Discretionary $0.963 0.6%
The Boston Beer Company, Inc. Consumer Staples $3.140 0.6%
West Pharmaceutical Services, Inc. Health Care $3.114 0.6%
Guidewire Software, Inc. Information Technology $3.333 0.6%
Benefitfocus, Inc. Information Technology $1.152 0.6%
CARBO Ceramics, Inc. Energy $3.188 0.5%
Bottomline Technologies (de), Inc. Information Technology $1.373 0.5%
IHS, Inc. Industrials $8.269 0.5%
MSC Industrial Direct Co., Inc. Industrials $5.376 0.5%
Marriott Vacations Worldwide Corp. Consumer Discretionary $1.944 0.5%
The Advisory Board Company Industrials $2.322 0.4%
Penske Automotive Group, Inc. Consumer Discretionary $3.872 0.4%
RSP Permian, Inc. Energy $2.095 0.4%
American Campus Communities, Inc. Financials $3.918 0.3%
Edwards Lifesciences Corp. Health Care $7.792 0.3%
Imax Corp. Consumer Discretionary $1.856 0.3%
Landstar System, Inc. Industrials $2.695 0.3%
Atlas Energy, L.P. Energy $2.215 0.3%
SM Energy Co. Energy $4.781 0.3%
American Assets Trust, Inc. Financials $1.363 0.3%
TOTVS SA Information Technology $2.565 0.2%
Mistras Group, Inc. Industrials $0.646 0.2%
Neogen Corp. Health Care $1.645 0.2%
Whistler Blackcomb Holdings, Inc. Consumer Discretionary $0.522 0.2%
Castlight Health Inc. Health Care - 0.2%
Shutterstock, Inc. Information Technology $2.547 0.2%
Brookdale Senior Living, Inc. Health Care $4.167 0.1%
IPC The Hospitalist Co., Inc. Health Care $0.837 0.1%
Tetra Tech, Inc. Industrials $1.922 0.1%
VCA Antech, Inc. Health Care $2.883 0.1%
Windy City Investments Holdings, L.L.C. Financials - 0.1%
Oasis Petroleum, Inc. Energy $4.223 0.1%
Trex Company, Inc. Industrials $1.226 0.1%
Agrinos AS Materials $0.065 0.1%
BRP, Inc. Consumer Discretionary $3.094 0.1%
Diamond Resorts International, Inc. Consumer Discretionary $1.279 0.1%
Foundation Medicine, Inc. Health Care $0.896 0.1%
Acadia Pharmaceuticals Inc. Health Care $2.372 0.1%
Castlight Health Inc. Health Care $1.837 0.1%
Badger Daylighting Ltd. Industrials $1.392 0.1%
Nord Anglia Education Inc. Consumer Discretionary $1.819 0.1%
Windy City Investments Holdings, L.L.C. Financials - 0.0%
MPLX LP Energy $3.621 0.0%
ClubCorp Holdings, Inc. Consumer Discretionary $1.210 0.0%
Agrinos AS Materials $0.065 0.0%
Total 100.0%
Back to Top

Sector Breakdown as of March 31, 2014

Sector Sub-Industry Percentage*
Cash & Cash Equivalents
4.3%
Consumer Discretionary
  • Specialty Stores 3.3%
  • Hotels, Resorts & Cruise Lines 3.1%
  • Apparel, Accessories & Luxury Goods 3.0%
  • Movies & Entertainment 2.2%
  • Education Services 2.1%
  • Leisure Facilities 1.9%
  • Distributors 1.8%
  • Casinos & Gaming 1.4%
  • Home Improvement Retail 1.3%
  • Publishing 1.1%
  • Restaurants 0.9%
  • Internet Retail 0.7%
  • Automotive Retail 0.4%
  • Leisure Products 0.1%
23.3%
Consumer Staples
  • Food Distributors 1.9%
  • Packaged Foods & Meats 1.5%
  • Household Products 1.2%
  • Brewers 0.6%
5.3%
Energy
  • Oil & Gas Equipment & Services 3.0%
  • Oil & Gas Storage & Transportation 1.7%
  • Oil & Gas Drilling 1.1%
  • Oil & Gas Exploration & Production 0.9%
6.7%
Financials
  • Asset Management & Custody Banks 4.1%
  • Property & Casualty Insurance 2.8%
  • Specialized REITs^ 2.2%
  • Office REITs^ 1.7%
  • Specialized Finance 1.6%
  • Life & Health Insurance 1.5%
  • Hotel & Resort REITs 0.6%
  • Diversified REITs 0.3%
  • Residential REITs 0.3%
15.0%
Health Care
  • Life Sciences Tools & Services 2.4%
  • Health Care Facilities 2.0%
  • Health Care Equipment 1.6%
  • Pharmaceuticals 1.0%
  • Health Care Supplies 0.7%
  • Health Care Technology^ 0.3%
  • Health Care Services 0.1%
  • Biotechnology 0.1%
8.3%
Industrials
  • Industrial Machinery 5.3%
  • Electrical Components & Equipment 2.3%
  • Railroads 2.3%
  • Diversified Support Services 1.7%
  • Trading Companies & Distributors 1.4%
  • Research & Consulting Services 1.1%
  • Trucking 0.3%
  • Building Products 0.1%
  • Construction & Engineering 0.1%
  • Environmental & Facilities Services 0.1%
14.7%
Information Technology
  • Application Software 8.8%
  • IT Consulting & Other Services 3.9%
  • Internet Software & Services 3.0%
  • Data Processing and Outsourced Services 1.6%
  • Electronic Equipment & Instruments 0.8%
  • Systems Software 0.2%
18.3%
Materials
  • Construction Materials 1.1%
  • Fertilizers & Agricultural Chemicals 0.1%
1.1%
Utilities
  • Electric Utilities 3.0%
3.0%
Back to Top

Top Contributors & Detractors as of March 31, 2014

3 Months | 12 Months Download Qtr-end GICS Sub-Industry Breakdown (Inst Shares)

3 Months

By Sub-Industry
Top Contributors Average Weight Contribution
Apparel, Accessories & Luxury Goods 2.92% 0.85%
Industrial Machinery 5.25% 0.47%
Electric Utilities 2.76% 0.45%
Oil & Gas Drilling 1.00% 0.26%
Office REITs^ 1.62% 0.23%
Top Detractors Average Weight Contribution
Application Software 9.75% -0.98%
Distributors 2.17% -0.60%
Asset Management & Custody Banks^ 4.43% -0.37%
Hotels, Resorts & Cruise Lines^ 3.25% -0.22%
Specialty Stores 2.91% -0.21%
By Holdings
Top Contributors Average Weight Contribution
Under Armour, Inc. 2.92% 0.85%
ITC Holdings Corp. 2.76% 0.45%
Booz Allen Hamilton Holding Corp. 1.44% 0.29%
Helmerich & Payne, Inc. 1.00% 0.26%
The Middleby Corp. 2.68% 0.25%
Top Detractors Average Weight Contribution
LKQ Corp. 2.17% -0.60%
DreamWorks Animation SKG, Inc. 0.99% -0.27%
Financial Engines, Inc. 0.88% -0.27%
Pegasystems, Inc. 0.84% -0.26%
ANSYS, Inc. 2.05% -0.25%

12 Months

By Sub-Industry
Top Contributors Average Weight Contribution
Apparel, Accessories & Luxury Goods 2.44% 2.22%
Application Software 10.05% 2.15%
Industrial Machinery 4.81% 2.11%
IT Consulting & Other Services 3.82% 1.62%
Electrical Components & Equipment 1.99% 1.39%
Top Detractors Average Weight Contribution
Health Care Facilities 2.45% -0.44%
Systems Software 0.70% -0.38%
Pharmaceuticals^ 1.13% -0.30%
Fertilizers & Agricultural Chemicals 0.10% -0.11%
Environmental & Facilities Services 0.18% -0.08%
By Holdings
Top Contributors Average Weight Contribution
Under Armour, Inc. 2.44% 2.22%
Generac Holdings, Inc. 1.99% 1.39%
The Middleby Corp. 2.32% 1.39%
CoStar Group, Inc. 2.07% 1.20%
Booz Allen Hamilton Holding Corp. 1.48% 1.01%
Top Detractors Average Weight Contribution
Community Health Systems, Inc. 2.27% -0.49%
TOTVS SA 0.70% -0.38%
CFR Pharmaceuticals SA 1.13% -0.30%
Agrinos AS 0.08% -0.11%
ANSYS, Inc. 2.29% -0.11%
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 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.