Baron Opportunity Fund (BIOPX)

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Fund Description

Baron Opportunity Fund invests in innovative high-growth companies.

    

  

Fund Resources

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Latest Fact Sheets

Standard Fact Sheet

Expanded Fact Sheet - Retail Shares

Expanded Fact Sheet - Institutional Shares

Facts & Characteristics as of December 31, 2014

Inception Date February 29, 2000
Net Assets (All share classes combined) $397.29 million
# of Equity Securities / % of Net Assets 50/100.1%
Turnover (3 Year Average) 70.60%
Median Market Cap $5.42 billion
Weighted Average Market Cap $21.58 billion
CUSIP 068278407
Expense Ratio (as of FYE 09/13)* 1.37%
EPS Growth (3-5 year forecast) 23.6%
Price/Earnings Ratio (trailing 12-month) 37.8
Price/Book Ratio 4.7
Price/Sales Ratio 4.3

Top Ten Holdings as of February 28, 2015

Download Attribution Analysis for Institutional Share Class
Holding Sector Percentage*
Guidewire Software, Inc. (GWRE) is a leading provider of core systems software to the global P&C insurance industry.
Information Technology 5.2%
Gartner, Inc. (IT) is the leading independent provider of research and analysis on the information technology industry.
Information Technology 4.0%
CoStar Group, Inc. (CSGP) is the leading provider of information and marketing services to the commercial real estate industry.
Information Technology 3.5%
Illumina, Inc. (ILMN) develops and commercializes tools and services for genetic analysis. The company is the recognized leader in next generation DNA sequencing platforms. 
Health Care 3.2%
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 3.1%
Red Hat, Inc. (RHT) develops and supports Linux and open source software solutions, including enterprise operating system platform Red Hat Enterprise Linux, enterprise middleware platform JBoss Enterprise Middleware, virtualization and cloud solutions, and other enterprise technologies.
Information Technology 2.9%
SBA Communications Corp. (SBAC) is the third largest independent owner of wireless towers in the U.S. and has a growing presence in Canada, Central America, and Brazil. SBA owns and operates approximately 20,000 towers in total.
Telecommunication Services 2.8%
Equinix, Inc. (EQIX) is a network neutral operator of state-of-the-art data centers across North America, Europe, and Asia-Pacific. It provides highly reliable facilities and offers low latency interconnection to and among business partners, networks, and cloud service providers, among others.  
Information Technology 2.8%
CarMax, Inc. (KMX) is the nation’s largest retailer of used cars with over $13 billion in annual sales and 131 superstores.
Consumer Discretionary 2.7%
ANSYS, Inc.
Information Technology 2.6%
Total 32.8%
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Portfolio Holdings as of December 31, 2014

Holding Sector Market Cap ($Bn) Percentage*
Gartner, Inc. Information Technology $7.413 4.8%
Guidewire Software, Inc. Information Technology $3.523 4.8%
Illumina, Inc. Health Care $26.210 4.0%
Red Hat, Inc. Information Technology $12.986 3.5%
CoStar Group, Inc. Information Technology $5.940 3.3%
SBA Communications Corp. Telecommunication Services $14.299 3.1%
Equinix, Inc. Information Technology $12.455 3.0%
Verisk Analytics, Inc. Industrials $10.563 3.0%
CarMax, Inc. Consumer Discretionary $14.341 2.8%
Shutterstock, Inc. Information Technology $2.449 2.8%
ANSYS, Inc. Information Technology $7.537 2.6%
Tesla Motors Inc. Consumer Discretionary $27.886 2.6%
Benefitfocus, Inc. Information Technology $0.839 2.5%
Concho Resources, Inc. Energy $11.273 2.4%
Facebook Inc. Information Technology $218.187 2.4%
DigitalGlobe, Inc. Industrials $2.328 2.2%
Manchester United plc Consumer Discretionary $2.604 2.2%
The Priceline Group, Inc. Consumer Discretionary $59.697 2.0%
Acxiom Corp. Information Technology $1.561 1.9%
Alibaba Group Holding Ltd. - ADR Information Technology $256.213 1.9%
athenahealth, Inc. Health Care $5.550 1.8%
Netflix, Inc. Consumer Discretionary $20.581 1.8%
The Middleby Corp. Industrials $5.675 1.8%
Medidata Solutions, Inc. Health Care $2.591 1.8%
Just Eat plc Information Technology $2.742 1.8%
salesforce.com, inc. Information Technology $37.425 1.7%
LinkedIn Corp. Information Technology $28.525 1.6%
HomeAway, Inc. Information Technology $2.809 1.6%
Workday, Inc. Information Technology $15.261 1.6%
AO World plc Consumer Discretionary $1.839 1.6%
SunEdison, Inc. Information Technology $5.287 1.6%
Mellanox Technologies Ltd. Information Technology $1.933 1.5%
comScore, Inc. Information Technology $1.588 1.5%
Zillow, Inc. Information Technology $4.306 1.5%
CaesarStone Sdot-Yam Ltd. Materials $2.100 1.5%
Cepheid Health Care $3.816 1.5%
Restoration Hardware Holdings, Inc. Consumer Discretionary $3.800 1.5%
Twitter, Inc. Information Technology $22.760 1.4%
Discovery Communications, Inc. Series C Consumer Discretionary $23.144 1.2%
The Spectranetics Corporation Health Care $1.450 1.2%
Qualys, Inc. Information Technology $1.258 1.2%
Flotek Industries, Inc. Materials $1.010 1.2%
Liberty Tripadvisor Holdings Inc. - Cl A Consumer Discretionary $1.981 1.2%
Amazon.com, Inc. Consumer Discretionary $143.694 1.1%
Pacira Pharmaceuticals, Inc. Health Care $3.197 1.1%
Under Armour, Inc. Consumer Discretionary $14.510 1.0%
Liberty Media Corp Cl C - Broadband Consumer Discretionary $12.050 1.0%
Golar LNG Ltd. Energy $3.402 0.8%
HealthEquity, Inc. Health Care $1.394 0.8%
TerraForm Power, Inc. - Cl A Utilities - 0.8%
TerraForm Power, Inc. Utilities $3.120 0.3%
Liberty Media Corp. - Cl A Consumer Discretionary $12.050 0.2%
Total 100.0%
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Sector Breakdown as of February 28, 2015

Sector Sub-Industry Percentage*
Cash & Cash Equivalents
0.4%
Consumer Discretionary
  • Internet Retail 9.0%
  • Automotive Retail 2.7%
  • Automobile Manufacturers 2.4%
  • Movies & Entertainment 2.1%
  • Homefurnishing Retail 1.4%
  • Apparel, Accessories & Luxury Goods 1.0%
18.7%
Energy
  • Oil & Gas Exploration & Production 2.6%
  • Oil & Gas Storage & Transportation 0.9%
3.5%
Financials
  • Investment Banking & Brokerage 0.2%
0.2%
Health Care
  • Health Care Technology 3.5%
  • Life Sciences Tools & Services 3.2%
  • Biotechnology 1.9%
  • Health Care Supplies 1.6%
  • Pharmaceuticals 1.5%
  • Managed Health Care 0.8%
12.6%
Industrials
  • Research & Consulting Services 3.1%
  • Aerospace & Defense 2.2%
  • Building Products 1.5%
  • Industrial Machinery 1.5%
8.2%
Information Technology
  • Internet Software & Services^ 21.7%
  • Application Software 10.9%
  • IT Consulting & Other Services^ 8.6%
  • Systems Software 4.8%
  • Data Processing and Outsourced Services 2.0%
  • Semiconductor Equipment 1.8%
  • Semiconductors 1.6%
51.3%
Materials
  • Specialty Chemicals 1.1%
1.1%
Telecommunication Services
  • Wireless Telecommunication Services 2.8%
2.8%
Utilities
  • Renewable Electricity 1.2%
1.2%
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Top Contributors & Detractors as of December 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
IT Consulting & Other Services^ 10.10% 1.44%
Systems Software 5.06% 1.25%
Automotive Retail 2.71% 1.03%
Life Sciences Tools & Services 4.78% 0.70%
Application Software 10.50% 0.60%
Top Detractors Average Weight Contribution
Oil & Gas Exploration & Production 2.79% -1.40%
Internet Retail 7.13% -0.77%
Oil & Gas Storage & Transportation 0.96% -0.61%
Specialty Chemicals 1.11% -0.38%
Automobile Manufacturers 2.47% -0.23%
By Holdings
Top Contributors Average Weight Contribution
CarMax, Inc. 2.71% 1.03%
Gartner, Inc. 5.18% 0.75%
Red Hat, Inc. 3.69% 0.72%
Illumina, Inc. 4.78% 0.70%
Guidewire Software, Inc. 4.39% 0.62%
Top Detractors Average Weight Contribution
Oasis Petroleum, Inc. 0.73% -0.98%
Golar LNG Ltd. 0.96% -0.61%
Twitter, Inc. 1.53% -0.58%
Netflix, Inc. 1.65% -0.50%
Concho Resources, Inc. 2.06% -0.42%

12 Months

By Sub-Industry
Top Contributors Average Weight Contribution
Life Sciences Tools & Services 4.76% 2.91%
Automotive Retail 2.35% 0.99%
Systems Software 4.96% 0.91%
Pharmaceuticals 1.18% 0.76%
Wireless Telecommunication Services 3.00% 0.70%
Top Detractors Average Weight Contribution
Internet Software & Services^ 18.16% -1.78%
Oil & Gas Exploration & Production 3.17% -1.27%
Movies & Entertainment 3.16% -1.25%
Asset Management & Custody Banks 0.61% -0.60%
Application Software 10.11% -0.58%
By Holdings
Top Contributors Average Weight Contribution
Illumina, Inc. 4.76% 2.91%
CarMax, Inc. 2.35% 0.99%
Gartner, Inc. 4.43% 0.90%
Qualys, Inc. 0.89% 0.85%
Equinix, Inc. 2.59% 0.80%
Top Detractors Average Weight Contribution
Acxiom Corp. 2.33% -1.76%
DreamWorks Animation SKG, Inc. 1.51% -1.24%
Oasis Petroleum, Inc. 1.21% -1.17%
Xoom Corporation 0.74% -0.98%
Benefitfocus, Inc. 1.86% -0.85%
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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.

On November 7, 2013, the Fund participated in the initial public offering of Twitter, Inc. common stock.