Baron Opportunity Fund (BIOPX)
- Facts & Characteristics
- Top Ten Holdings
- Portfolio Holdings
- Sector Breakdown
- Top Contributors & Detractors
Fund Description
Baron Opportunity Fund invests in innovative high-growth companies.
Fund Resources
Michael Lippert discusses how he invests in innovative companies
Latest Fact Sheets
Facts & Characteristics as of March 31, 2013
| Inception Date | February 29, 2000 |
| Net Assets (All share classes combined as of 4/30/2013) | $397.35 million |
| # of Equity Securities / % of Net Assets | 61/99.6% |
| Turnover (3 Year Average) | 78.43% |
| Median Market Cap | $2.97 billion |
| Weighted Average Market Cap | $6.15 billion |
| CUSIP | 068278407 |
| Expense Ratio (as of FYE 09/12)* | 1.39% |
| EPS Growth (3-5 year forecast)† | 20.4% |
| Price/Earnings Ratio (trailing 12-month)*† | 26.9 |
| Price/Book Ratio*† | 4.1 |
| Price/Sales Ratio*† | 3.2 |
Top Ten Holdings as of April 30, 2013
| Holding | Sector | Percentage* |
|---|---|---|
|
Gartner, Inc. (IT) is the leading independent provider of research and analysis on the information technology industry.
|
Information Technology | 3.7% |
|
Equinix, Inc. (EQIX) is a network neutral operator of state-of-the-art data centers across North America, Europe, and Asia-Pacific. The company offers both collocation and interconnection services.
|
Information Technology | 3.3% |
|
Guidewire Software, Inc. (GWRE) is a leading provider of core systems software to the global P&C insurance industry.
|
Information Technology | 3.3% |
|
ANSYS, Inc. (ANSS) is the market leader in simulation-driven product development.
|
Information Technology | 3.1% |
|
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 | 3.0% |
|
SBA Communications Corp. (SBAC) is one of the largest owners of wireless towers in the U.S., and has a growing presence in Canada, Central America, and Brazil.
|
Telecommunication Services | 3.0% |
|
RealPage, Inc. (RP) markets a comprehensive suite of property management software and analytical tools for the rental housing industry. The company provides its systems on a Software as a Service basis.
|
Information Technology | 2.8% |
|
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 | 2.6% |
|
HomeAway, Inc. (AWAY) is the #1 player in the online vacation rentals space with over 700,000 paid rental listings. It owns multiple web properties, including HomeAway.com, VRBO.com, and Homelidays.com.
|
Consumer Discretionary | 2.6% |
|
Discovery Communications, Inc. (DISCA) is a leading global cable network programming operator. Better known channels include Discovery Channel, Animal Planet, and The Learning Channel.
|
Consumer Discretionary | 2.4% |
| Total | 29.8% | |
Portfolio Holdings as of April 30, 2013
| Holding | Sector | Market Cap ($Bn) | Percentage* |
|---|---|---|---|
| Gartner, Inc. | Information Technology | $5.401 | 3.7% |
| Equinix, Inc. | Information Technology | $10.564 | 3.3% |
| Guidewire Software, Inc. | Information Technology | $2.263 | 3.3% |
| ANSYS, Inc. | Information Technology | $7.515 | 3.1% |
| SBA Communications Corp. | Telecommunication Services | $10.028 | 3.0% |
| Verisk Analytics, Inc. | Industrials | $10.305 | 3.0% |
| RealPage, Inc. | Information Technology | $1.545 | 2.8% |
| Illumina, Inc. | Health Care | $8.024 | 2.6% |
| HomeAway, Inc. | Consumer Discretionary | $2.595 | 2.6% |
| IHS, Inc. | Industrials | $6.404 | 2.4% |
| Discovery Communications, Inc. | Consumer Discretionary | $18.588 | 2.4% |
| Acxiom Corp. | Information Technology | $1.468 | 2.3% |
| Berry Plastics Group, Inc. | Materials | $2.148 | 2.3% |
| CarMax, Inc. | Consumer Discretionary | $10.336 | 2.2% |
| Citrix Systems, Inc. | Information Technology | $11.589 | 2.1% |
| Angie's List, Inc. | Information Technology | $1.405 | 2.1% |
| CBRE Group, Inc. | Financials | $8.008 | 2.0% |
| Masimo Corp. | Health Care | $1.131 | 2.0% |
| Shutterfly, Inc. | Consumer Discretionary | $1.618 | 2.0% |
| Tesoro Logistics LP | Energy | $2.713 | 2.0% |
| Red Hat, Inc. | Information Technology | $9.260 | 2.0% |
| Liberty Media Corp. | Consumer Discretionary | $13.878 | 2.0% |
| CoStar Group, Inc. | Information Technology | $3.072 | 1.9% |
| Polypore International, Inc. | Industrials | $1.955 | 1.9% |
| lululemon athletica, inc. | Consumer Discretionary | $10.996 | 1.7% |
| DigitalGlobe, Inc. | Industrials | $2.150 | 1.7% |
| The ExOne Company | Industrials | $0.510 | 1.7% |
| Shutterstock, Inc. | Consumer Discretionary | $1.398 | 1.6% |
| Myriad Genetics, Inc. | Health Care | $2.244 | 1.6% |
| salesforce.com, inc. | Information Technology | $24.074 | 1.5% |
| FactSet Research Systems, Inc. | Information Technology | $4.137 | 1.5% |
| Golar LNG Ltd. | Energy | $2.690 | 1.5% |
| CARBO Ceramics, Inc. | Energy | $1.635 | 1.4% |
| priceline.com, Inc. | Consumer Discretionary | $34.710 | 1.4% |
| Xoom Corporation | Information Technology | $0.577 | 1.4% |
| Fortinet, Inc. | Information Technology | $2.903 | 1.3% |
| Manchester United plc | Consumer Discretionary | $2.943 | 1.3% |
| Starwood Hotels & Resorts Worldwide, Inc. | Consumer Discretionary | $12.499 | 1.2% |
| Helmerich & Payne, Inc. | Energy | $6.230 | 1.2% |
| ITC Holdings Corp. | Utilities | $4.826 | 1.2% |
| Under Armour, Inc. | Consumer Discretionary | $5.980 | 1.2% |
| CaesarStone Sdot-Yam Ltd. | Materials | $0.806 | 1.2% |
| Tumi Holdings, Inc. | Consumer Discretionary | $1.563 | 1.2% |
| Radware Ltd. | Information Technology | $0.672 | 1.2% |
| Cepheid | Health Care | $2.548 | 1.2% |
| Artisan Partners Asset Management Inc. | Financials | $0.474 | 1.2% |
| Ryanair Holdings plc | Industrials | $12.488 | 1.1% |
| LivePerson, Inc. | Information Technology | $0.716 | 1.1% |
| Imperva, Inc. | Information Technology | $0.955 | 1.1% |
| Fossil, Inc. | Consumer Discretionary | $5.823 | 1.0% |
| The Middleby Corp. | Industrials | $2.811 | 1.0% |
| Tesla Motors Inc. | Consumer Discretionary | $6.183 | 1.0% |
| Whole Foods Market, Inc. | Consumer Staples | $16.369 | 0.9% |
| Oasis Petroleum, Inc. | Energy | $3.204 | 0.9% |
| Halcon Resources Corp. | Energy | $2.400 | 0.9% |
| Cash & Cash Equivalents | Cash & Cash Equivalents | - | 0.6% |
| Agrinos AS | Materials | $0.155 | 0.6% |
| Castlight Health Inc. | Health Care | - | 0.4% |
| 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
| By Sub-Industry | ||
|---|---|---|
| Top Contributors | Average Weight | Contribution |
| Internet Retail | 7.49% | 1.83% |
| Application Software | 14.84% | 1.58% |
| IT Consulting & Other Services^ | 8.72% | 1.16% |
| Research & Consulting Services | 5.47% | 0.86% |
| Industrial Machinery | 1.89% | 0.77% |
| Top Detractors | Average Weight | Contribution |
| Fertilizers & Agricultural Chemicals | 1.02% | -0.63% |
| Electrical Components & Equipment | 2.19% | -0.43% |
| Health Care Equipment | 4.58% | -0.24% |
| Life Sciences Tools & Services | 2.27% | -0.12% |
| Apparel, Accessories & Luxury Goods | 4.96% | -0.11% |
| By Holdings | ||
|---|---|---|
| Top Contributors | Average Weight | Contribution |
| HomeAway, Inc. | 2.28% | 0.95% |
| Shutterfly, Inc. | 2.12% | 0.80% |
| Guidewire Software, Inc. | 2.95% | 0.79% |
| The ExOne Company | 0.75% | 0.70% |
| Gartner, Inc. | 3.90% | 0.68% |
| Top Detractors | Average Weight | Contribution |
| Agrinos AS | 1.02% | -0.63% |
| Liquidity Services Inc. | 1.26% | -0.53% |
| Polypore International, Inc. | 2.19% | -0.43% |
| Rackspace Hosting, Inc. | 1.09% | -0.36% |
| lululemon athletica, inc. | 1.48% | -0.31% |
12 Months
| By Sub-Industry | ||
|---|---|---|
| Top Contributors | Average Weight | Contribution |
| IT Consulting & Other Services^ | 8.79% | 3.11% |
| Broadcasting | 5.00% | 2.16% |
| Application Software | 13.38% | 1.64% |
| Research & Consulting Services | 3.64% | 1.22% |
| Semiconductors | 1.26% | 1.19% |
| Top Detractors | Average Weight | Contribution |
| Internet Software & Services^ | 10.12% | -3.71% |
| Communications Equipment | 0.61% | -1.71% |
| Systems Software | 4.44% | -0.89% |
| Consumer Finance | 0.30% | -0.73% |
| Independent Power Producers & Energy Traders^ | 0.37% | -0.69% |
| By Holdings | ||
|---|---|---|
| Top Contributors | Average Weight | Contribution |
| Equinix, Inc. | 3.98% | 1.70% |
| SBA Communications Corp. | 3.85% | 1.59% |
| Mellanox Technologies Ltd. | 1.23% | 1.47% |
| CoStar Group, Inc. | 2.13% | 1.21% |
| Starz Liberty Capital, Inc. | 2.12% | 1.11% |
| Top Detractors | Average Weight | Contribution |
| Velti plc | 0.94% | -2.28% |
| Bazaarvoice, Inc. | 1.35% | -1.43% |
| Ubiquiti Networks, Inc. | 0.36% | -1.22% |
| Netflix, Inc. | 0.66% | -1.01% |
| Synchronoss Technologies, Inc. | 0.64% | -0.96% |
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.