The Fund invests mainly in large-sized U.S. companies with significant growth potential and competitive advantages. Diversified.
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L
The Fund invests mainly in large-sized U.S. companies with significant growth potential and competitive advantages. Diversified.
As of Jun 30, 2022
NAV | $30.48 |
---|---|
Daily Change ($) | -$0.70 |
Daily Change (%) | -2.25% |
YTD | -45.15% |
Inception Date | 4/30/2004 |
Portfolio Manager
years of exp 29
years at baron 11
For the period ended 5/31/2022, the Baron Fifth Avenue Growth Fund received a 1-Star Overall Morningstar Rating™, 1-Star 3-Year Rating, 1-Star 5-Year Rating, and 1-Star 10-Year Rating. The Morningstar Ratings are based on the Morningstar Risk-Adjusted Return measures of 1142, 1142, 1054, and 777 funds in the category, respectively. This Morningstar Rating is for the Institutional share class only; other classes may have different performance characteristics.
The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10- year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
Morningstar classifies funds as being large-cap, mid-cap, or small-cap based on the market capitalization of the fund’s stock holdings; and as value, blend, or growth based on the value-growth orientation of the stock holdings. The nine possible combinations of these characteristics correspond to the nine squares of the Morningstar Style Box–size is displayed along the vertical axis and style is displayed along the horizontal axis. Please note that the style boxes indicate the Fund’s equity style, not necessarily its Morningstar Category.
© 2022 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
as of 06/30/22
NAV | Daily Change ($) | Daily Change (%) | MTD | QTD | YTD |
---|---|---|---|---|---|
$30.48 | -$0.70 | -2.25% | -8.03% | -30.55% | -45.15% |
as of 05/31/22
QTD1 | YTD1 | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | Expense Ratio2 | ||
---|---|---|---|---|---|---|---|---|---|
Gross | Net | ||||||||
BFTIX - Baron Fifth Avenue Growth Fund - I | -24.49% | -40.36% | -35.52% | 4.24% | 9.05% | 12.43% | 8.41% | 0.75% | 0.75% |
Russell 1000 Growth Index | -14.12% | -21.88% | -6.25% | 18.31% | 16.13% | 16.06% | 10.99% | ||
S&P 500 Index | -8.55% | -12.76% | -0.30% | 16.44% | 13.38% | 14.40% | 9.73% |
1Not annualized.
2Expense ratios are as of the fiscal year ended 9/30/2020
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Adviser reimburses certain Baron Fund expenses pursuant to a contract expiring on August 29, 2032, unless renewed for another 11-year term and the Fund's transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Performance for the Institutional Shares prior to 5/29/2009, is based on the performance of the Retail Shares, which have a distribution fee. The Institutional Shares do not have a distribution fee. If the annual returns prior to 5/29/2009, did not reflect this fee, the returns would be higher.
The Fund's 4Q 2021 and 1-year historical performance was impacted by gains from IPOs and there is no guarantee that these results can be repeated or that the Fund’s level of participation in IPOs will be the same in the future.
as of 03/31/22
YTD1 | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | Expense Ratio2 | ||
---|---|---|---|---|---|---|---|---|
Gross | Net | |||||||
BFTIX - Baron Fifth Avenue Growth Fund - I | -21.02% | -10.75% | 14.43% | 17.15% | 14.48% | 10.21% | 0.75% | 0.75% |
Russell 1000 Growth Index | -9.04% | 14.98% | 23.60% | 20.88% | 17.04% | 12.04% | ||
S&P 500 Index | -4.60% | 15.65% | 18.92% | 15.99% | 14.64% | 10.38% |
1Not annualized.
2Expense ratios are as of the fiscal year ended 9/30/2020
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Adviser reimburses certain Baron Fund expenses pursuant to a contract expiring on August 29, 2032, unless renewed for another 11-year term and the Fund's transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Performance for the Institutional Shares prior to 5/29/2009, is based on the performance of the Retail Shares, which have a distribution fee. The Institutional Shares do not have a distribution fee. If the annual returns prior to 5/29/2009, did not reflect this fee, the returns would be higher.
The Fund's 4Q 2021 and 1-year historical performance was impacted by gains from IPOs and there is no guarantee that these results can be repeated or that the Fund’s level of participation in IPOs will be the same in the future.
1Not annualized.
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Adviser reimburses certain Baron Fund expenses pursuant to a contract expiring on August 29, 2032, unless renewed for another 11-year term and the Fund's transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Expense ratios are based on fiscal year ended 9/30/16, restated to reflect current expense waivers.
Performance for the Institutional Shares prior to 5/29/2009, is based on the performance of the Retail Shares, which have a distribution fee. The Institutional Shares do not have a distribution fee. If the annual returns prior to 5/29/2009, did not reflect this fee, the returns would be higher.
The Fund's 4Q 2021 and 1-year historical performance was impacted by gains from IPOs and there is no guarantee that these results can be repeated or that the Fund’s level of participation in IPOs will be the same in the future.
as of 05/31/22
Year | Baron Fifth Avenue Growth Fund | Russell 1000 Growth Index | S&P 500 Index |
---|---|---|---|
2021 | 11.22% | 27.60% | 28.71% |
2020 | 50.81% | 38.49% | 18.40% |
2019 | 34.25% | 36.39% | 31.49% |
2018 | 1.39% | -1.51% | -4.38% |
2017 | 40.97% | 30.21% | 21.83% |
2016 | -1.76% | 7.08% | 11.96% |
2015 | 6.61% | 5.67% | 1.38% |
2014 | 8.34% | 13.05% | 13.69% |
2013 | 35.73% | 33.48% | 32.39% |
2012 | 21.20% | 15.26% | 16.00% |
2011 | -2.28% | 2.64% | 2.11% |
2010 | 10.67% | 16.71% | 15.06% |
2009 | 31.43% | 37.21% | 26.46% |
2008 | -38.92% | -38.44% | -37.00% |
2007 | 5.64% | 11.81% | 5.49% |
2006 | 10.17% | 9.07% | 15.79% |
2005 | 8.48% | 5.26% | 4.91% |
2004 | 9.70% | 6.71% | 10.77% |
1Not annualized.
2Expense ratios are as of the fiscal year ended 9/30/2020
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Adviser reimburses certain Baron Fund expenses pursuant to a contract expiring on August 29, 2032, unless renewed for another 11-year term and the Fund's transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Performance for the Institutional Shares prior to 5/29/2009, is based on the performance of the Retail Shares, which have a distribution fee. The Institutional Shares do not have a distribution fee. If the annual returns prior to 5/29/2009, did not reflect this fee, the returns would be higher.
The Fund's 4Q 2021 and 1-year historical performance was impacted by gains from IPOs and there is no guarantee that these results can be repeated or that the Fund’s level of participation in IPOs will be the same in the future.
Record Date | Ex Date | Payable Date | Income | Return of Capital | Short-Term Capital Gain | Long-Term Capital Gain | Total | Re-Invest NAV | Calendar-Yr Return |
---|---|---|---|---|---|---|---|---|---|
11/22/2021 | 11/23/2021 | 11/24/2021 | $0.0000 | $0.0000 | $0.0000 | $1.7220 | $1.7220 | $57.84 | 11.22% |
11/23/2020 | 11/24/2020 | 11/25/2020 | $0.0000 | $0.0000 | $0.0000 | $0.1804 | $0.1804 | $48.57 | 50.81% |
07/29/2020 | 07/30/2020 | 07/31/2020 | $0.0363 | $0.0000 | $0.0000 | $0.0000 | $0.0363 | $45.87 | 50.81% |
11/25/2019 | 11/26/2019 | 11/27/2019 | $0.0000 | $0.0000 | $0.0000 | $0.9879 | $0.9879 | $33.96 | |
12/01/2014 | 12/02/2014 | 12/03/2014 | $0.0231 | $0.0000 | $0.0000 | $0.0000 | $0.0231 | $17.71 | 8.34% |
06/25/2010 | 06/28/2010 | 06/29/2010 | $0.0500 | $0.0000 | $0.0000 | $0.0000 | $0.0500 | $8.67 | 10.67% |
05/27/2009 | 05/28/2009 | 05/29/2009 | $0.0100 | $0.0000 | $0.0000 | $0.1740 | $0.1840 | $7.42 | 31.43% |
12/19/2008 | 12/22/2008 | 12/23/2008 | $0.0000 | $0.0000 | $0.0000 | $0.5980 | $0.5980 | $6.91 | -38.92% |
12/19/2007 | 12/20/2007 | 12/21/2007 | $0.0000 | $0.0000 | $0.0000 | $1.1200 | $1.1200 | $12.61 | 5.64% |
as of 03/31/22
3 Years | 5 Years | 10 Years | |
---|---|---|---|
Standard Deviation (%) | 22.22 | 19.90 | 17.06 |
Sharpe Ratio | 0.61 | 0.81 | 0.81 |
Alpha (%) | -7.59 | -3.52 | -3.05 |
Beta | 1.03 | 1.04 | 1.08 |
R-Squared (%) | 80.99 | 83.22 | 82.52 |
Tracking Error (%) | 9.70 | 8.18 | 7.22 |
Information Ratio | -0.94 | -0.46 | -0.36 |
Upside Capture (%) | 83.12 | 91.64 | 97.55 |
Downside Capture (%) | 106.56 | 101.83 | 112.13 |
Except for Standard Deviation and Sharpe Ratio, the performance based-characteristics above were calculated relative to the Baron Fifth Avenue Growth Fund's(BFTIX) benchmark (Russell 1000 Growth Index). Performance statistics for additional periods will be provided on request. Source FactSet: SPAR.
NAV | $30.48 |
---|---|
Daily Change ($) | -$0.70 |
Daily Change (%) | -$0.70 |
MTD | -8.03% |
QTD | -30.55% |
YTD | -45.15% |
BFTIX - Baron Fifth Avenue Growth Fund - I | Russell 1000 Growth Index | S&P 500 Index | |
---|---|---|---|
QTD1 | -24.49% | -14.12% | -8.55% |
YTD1 | -40.36% | -21.88% | -12.76% |
1 Year | -35.52% | -6.25% | -0.30% |
3 Years | 4.24% | 18.31% | 16.44% |
5 Years | 9.05% | 16.13% | 13.38% |
10 Years | 12.43% | 16.06% | 14.40% |
Since Inception | 8.41% | 10.99% | 9.73% |
Expense Ratio2 - Gross | 0.75% | ||
Expense Ratio2 - Net | 0.75% |
*As of 05/31/22
*Annualized as of 05/31/22
1Not annualized.
2Expense ratios are as of the fiscal year ended 9/30/2020
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Adviser reimburses certain Baron Fund expenses pursuant to a contract expiring on August 29, 2032, unless renewed for another 11-year term and the Fund's transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Performance for the Institutional Shares prior to 5/29/2009, is based on the performance of the Retail Shares, which have a distribution fee. The Institutional Shares do not have a distribution fee. If the annual returns prior to 5/29/2009, did not reflect this fee, the returns would be higher.
The Fund's 4Q 2021 and 1-year historical performance was impacted by gains from IPOs and there is no guarantee that these results can be repeated or that the Fund’s level of participation in IPOs will be the same in the future.
BFTIX - Baron Fifth Avenue Growth Fund - I | Russell 1000 Growth Index | S&P 500 Index | |
---|---|---|---|
YTD1 | -21.02% | -9.04% | -4.60% |
1 Year | -10.75% | 14.98% | 15.65% |
3 Years | 14.43% | 23.60% | 18.92% |
5 Years | 17.15% | 20.88% | 15.99% |
10 Years | 14.48% | 17.04% | 14.64% |
Since Inception | 10.21% | 12.04% | 10.38% |
Expense Ratio2 - Gross | 0.75% | ||
Expense Ratio2 - Net | 0.75% |
*As of 03/31/22
*Annualized as of 05/31/22
1Not annualized.
2Expense ratios are as of the fiscal year ended 9/30/2020
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Adviser reimburses certain Baron Fund expenses pursuant to a contract expiring on August 29, 2032, unless renewed for another 11-year term and the Fund's transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Performance for the Institutional Shares prior to 5/29/2009, is based on the performance of the Retail Shares, which have a distribution fee. The Institutional Shares do not have a distribution fee. If the annual returns prior to 5/29/2009, did not reflect this fee, the returns would be higher.
The Fund's 4Q 2021 and 1-year historical performance was impacted by gains from IPOs and there is no guarantee that these results can be repeated or that the Fund’s level of participation in IPOs will be the same in the future.
as of 03/31/22
3 Years | 5 Years | 10 Years | |
---|---|---|---|
Standard Deviation (%) | 22.22 | 19.90 | 17.06 |
Sharpe Ratio | 0.61 | 0.81 | 0.81 |
Alpha (%) | -7.59 | -3.52 | -3.05 |
Beta | 1.03 | 1.04 | 1.08 |
R-Squared (%) | 80.99 | 83.22 | 82.52 |
Tracking Error (%) | 9.70 | 8.18 | 7.22 |
Information Ratio | -0.94 | -0.46 | -0.36 |
Upside Capture (%) | 83.12 | 91.64 | 97.55 |
Downside Capture (%) | 106.56 | 101.83 | 112.13 |
Except for Standard Deviation and Sharpe Ratio, the performance based-characteristics above were calculated relative to the Baron Fifth Avenue Growth Fund's(BFTIX) benchmark (Russell 1000 Growth Index). Performance statistics for additional periods will be provided on request. Source FactSet: SPAR.
as of 05/31/22
Year | Baron Fifth Avenue Growth Fund | Russell 1000 Growth Index | S&P 500 Index |
---|---|---|---|
2021 | 11.22% | 27.60% | 28.71% |
2020 | 50.81% | 38.49% | 18.40% |
2019 | 34.25% | 36.39% | 31.49% |
2018 | 1.39% | -1.51% | -4.38% |
2017 | 40.97% | 30.21% | 21.83% |
2016 | -1.76% | 7.08% | 11.96% |
2015 | 6.61% | 5.67% | 1.38% |
2014 | 8.34% | 13.05% | 13.69% |
2013 | 35.73% | 33.48% | 32.39% |
2012 | 21.20% | 15.26% | 16.00% |
2011 | -2.28% | 2.64% | 2.11% |
2010 | 10.67% | 16.71% | 15.06% |
2009 | 31.43% | 37.21% | 26.46% |
2008 | -38.92% | -38.44% | -37.00% |
2007 | 5.64% | 11.81% | 5.49% |
2006 | 10.17% | 9.07% | 15.79% |
2005 | 8.48% | 5.26% | 4.91% |
2004 | 9.70% | 6.71% | 10.77% |
1Not annualized.
2Expense ratios are as of the fiscal year ended 9/30/2020
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Adviser reimburses certain Baron Fund expenses pursuant to a contract expiring on August 29, 2032, unless renewed for another 11-year term and the Fund's transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Performance for the Institutional Shares prior to 5/29/2009, is based on the performance of the Retail Shares, which have a distribution fee. The Institutional Shares do not have a distribution fee. If the annual returns prior to 5/29/2009, did not reflect this fee, the returns would be higher.
The Fund's 4Q 2021 and 1-year historical performance was impacted by gains from IPOs and there is no guarantee that these results can be repeated or that the Fund’s level of participation in IPOs will be the same in the future.
Record Date | 11/22/2021 | 11/23/2020 | 07/29/2020 | 11/25/2019 | 12/01/2014 | 06/25/2010 | 05/27/2009 | 12/19/2008 | 12/19/2007 |
---|---|---|---|---|---|---|---|---|---|
Ex Date | 11/23/2021 | 11/24/2020 | 07/30/2020 | 11/26/2019 | 12/02/2014 | 06/28/2010 | 05/28/2009 | 12/22/2008 | 12/20/2007 |
Payable Date | 11/24/2021 | 11/25/2020 | 07/31/2020 | 11/27/2019 | 12/03/2014 | 06/29/2010 | 05/29/2009 | 12/23/2008 | 12/21/2007 |
Income | $0.0000 | $0.0000 | $0.0363 | $0.0000 | $0.0231 | $0.0500 | $0.0100 | $0.0000 | $0.0000 |
Return of Capital | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 |
Short-Term Capital Gain | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 |
Long-Term Capital Gain | $1.7220 | $0.1804 | $0.0000 | $0.9879 | $0.0000 | $0.0000 | $0.1740 | $0.5980 | $1.1200 |
Total | $1.7220 | $0.1804 | $0.0363 | $0.9879 | $0.0231 | $0.0500 | $0.1840 | $0.5980 | $1.1200 |
Re-Invest NAV | $57.84 | $48.57 | $45.87 | $33.96 | $17.71 | $8.67 | $7.42 | $6.91 | $12.61 |
Calendar-Yr Return | 11.22% | 50.81% | 50.81% | 8.34% | 10.67% | 31.43% | -38.92% | 5.64% |
as of 03/31/22
Baron Fifth Avenue Growth Fund | Russell 1000 Growth Index | |
---|---|---|
Net Assets | $575.35 million | |
# of Issuers / % of Net Assets | 30 / 99.8% | |
Turnover (3 Year Average) | 20.41% | |
Active Share | 72.9% | |
Median Market Cap | $60.59 billion | $16.76 billion |
Weighted Average Market Cap | $464.14 billion | $989.48 billion |
EPS Growth (3-5 year forecast) | 33.0% | 17.1% |
Price/Earnings Ratio (trailing 12-month) | 51.4 | 30.4 |
Price/Book Ratio | 8.8 | 11.2 |
Price/Sales Ratio | 8.7 | 4.9 |
The Net Assets include all share classes combined.
Price/Book Ratio and Price/Sales Ratio are calculated using the Weighted Harmonic Average. Source: FactSet PA. Internal valuation metrics may differ.
as of 05/31/22
Open All Close All | Holding | Sector | % of Net Assets |
---|---|---|---|
Amazon.com, Inc.Amazon.com, Inc. (AMZN) is an e-commerce pioneer, innovator, and market share leader, with relentless focus on providing value and convenience to its customers. It also operates the industry-leading cloud infrastructure business Amazon Web Services. |
Consumer Discretionary | 8.9% | |
Alphabet Inc.Alphabet Inc. (GOOG) is the world's most dominant online search provider and offers a variety of other services and products including display advertising, Android, Chrome, Google Cloud, Google Maps, Google Play, and YouTube. Its Other Bets segment consists of businesses such as CapitalG, GV, and Verily. |
Communication Services | 8.4% | |
Mastercard IncorporatedMastercard Incorporated (MA) is a leading global payment network. The company authorizes and facilitates electronic payments for consumers, merchants, and banks. |
Information Technology | 6.6% | |
ServiceNow, Inc.ServiceNow, Inc. (NOW) provides cloud-based solutions for workflow management. ServiceNow's core products support IT Service Management (ITSM), and IT Operations Management (ITOM). It is expanding its reach to include business management, performance analytics, customer service management, and security. |
Information Technology | 6.0% | |
NVIDIA CorporationNVIDIA Corporation (NVDA) is a fabless semiconductor company and a leader in gaming cards and accelerated computing chips. NVIDIA is powering the growth of artificial intelligence from the data center to the edge. |
Information Technology | 5.4% | |
Tesla, Inc.Tesla, Inc. (TSLA) manufactures electric vehicles, including a luxury sedan and CUV (S/X), a mid-sized luxury sedan and hatchback (3/Y), and soon pickup and semi-trucks. It also ramping internal battery cell production, energy solutions, and software offerings such as full self driving and insurance. |
Consumer Discretionary | 4.3% | |
CrowdStrike, Inc.CrowdStrike, Inc. (CRWD) is a cloud-architected SaaS cybersecurity vendor offering endpoint security, threat intelligence, and cyberattack response services. |
Information Technology | 4.3% | |
Intuitive Surgical, Inc.Intuitive Surgical, Inc. (ISRG) manufactures and markets the da Vinci Surgical System, a robotic surgical system used for minimally invasive surgical procedures. |
Health Care | 3.9% | |
Adobe Inc.Adobe Systems Incorporated (ADBE) is a leading software company targeting two main markets: Digital Media and Digital Experience. Adobe offers its creative and document cloud solutions for the digital media market and its marketing, advertising, and analytics cloud solutions for the digital experience market. |
Information Technology | 3.8% | |
Rivian Automotive, Inc.Rivian Automotive, Inc. (RIVN) designs and manufactures electric vehicles (EVs). The company is operating in both the B2C and B2B segments, both sharing a similar underlining architecture. We expect the company to leverage its partners and technology to successfully penetrate the growing EV opportunity. |
Consumer Discretionary | 3.6% | |
Total |
55.2% |
Top Ten Fund Holdings based on net assets. Portfolio holdings may change over time.
as of 03/31/22
Name | Sector | % of Net Assets |
---|---|---|
Amazon.com, Inc. |
Consumer Discretionary | 9.2% |
NVIDIA Corporation |
Information Technology | 5.9% |
Alphabet Inc. - Cl A |
Communication Services | 5.6% |
ServiceNow, Inc. |
Information Technology | 5.5% |
Mastercard Incorporated |
Information Technology | 5.3% |
CrowdStrike Holdings, Inc. |
Information Technology | 4.5% |
Snowflake Inc. |
Information Technology | 4.1% |
Tesla, Inc. |
Consumer Discretionary | 4.0% |
Shopify Inc. |
Information Technology | 4.0% |
Intuitive Surgical, Inc. |
Health Care | 3.8% |
Rivian Automotive, Inc. |
Consumer Discretionary | 3.8% |
Adobe Inc. |
Information Technology | 3.7% |
ZoomInfo Technologies Inc. |
Communication Services | 3.6% |
Datadog, Inc. - Class A |
Information Technology | 3.0% |
Veeva Systems Inc. Cl - A |
Health Care | 2.9% |
Block, Inc. |
Information Technology | 2.8% |
Twilio Inc. (Class A Shares) |
Information Technology | 2.6% |
EPAM Systems, Inc. |
Information Technology | 2.5% |
Illumina, Inc. |
Health Care | 2.5% |
ASML Holding N.V. |
Information Technology | 2.4% |
Alphabet Inc. - Cl C |
Communication Services | 2.4% |
MercadoLibre, Inc. |
Consumer Discretionary | 2.3% |
argenx SE ADR |
Health Care | 2.2% |
Adyen N.V. |
Information Technology | 2.1% |
Meta Platforms, Inc. |
Communication Services | 2.1% |
Endava plc -ADR |
Information Technology | 2.0% |
Cloudflare, Inc. |
Information Technology | 1.7% |
10X Genomics, Inc. |
Health Care | 1.0% |
Rivian Automotive, Inc.. - Series F Common Restricted |
Consumer Discretionary | 0.7% |
GitLab Inc. |
Information Technology | 0.6% |
GM Cruise Holdings LLC - Class G Preferred |
Industrials | 0.5% |
Space Exploration Technologies Corporation - Cl - A |
Industrials | 0.4% |
Space Exploration Technologies Corporation - Cl - C |
Industrials | 0.1% |
As of 05/31/22
As of 05/31/22
Colors of Sub-Industry bars correspond to the GICS sector chart.
Quarterly as of 03/31/22
Top Contributors | Average Weight | Contribution |
---|---|---|
Tesla, Inc. | 2.06% | 0.86% |
CrowdStrike, Inc. | 3.37% | 0.79% |
Endava plc | 0.41% | 0.25% |
ZoomInfo Technologies Inc. | 2.99% | 0.13% |
Cloudflare, Inc. | 0.62% | 0.12% |
Quarterly as of 03/31/22
Top Detractors | Average Weight | Contribution |
---|---|---|
Rivian Automotive, Inc. | 5.49% | -4.41% |
EPAM Systems, Inc. | 3.57% | -2.85% |
Shopify Inc. | 4.07% | -2.52% |
PayPal Holdings, Inc. | 1.60% | -1.44% |
Meta Platforms, Inc. | 2.92% | -1.33% |
Source: FactSet PA.
02/04/22
In a February 4, 2022 interview, Alex Umansky, described by Insider as “Alex thrived as one of Wall Street's best stock pickers — then came the tech rout.” Alex discusses changes he’s made in the wake of the tech rout while staying true to his approach to growth investing. Alex told us the changes he's making to emerge with a stronger portfolio, and explained why value stocks are like 'a melting ice cube.'
Alex manages Baron Global Advantage Fund, Baron Fifth Avenue Growth Fund, and Baron Durable Advantage Fund.
09/02/21
Business Insider featured Baron Capital Founder and CEO Ron Baron and portfolio manager Alex Umansky in a September 2, 2021, article, “A complete guide to the world's best stock pickers, their mutual fund strategies, and their most lucrative bets.” Read the full article on Business Insider.(Subscription required outside the U.S.)
10/02/20
Alex Umansky, portfolio manager of Baron Fifth Avenue Growth Fund, discusses the Fund’s winning formula: Investing in Big Ideas. Read the full article on Investor's Business Daily, "How 'Big Ideas' Drive Baron Fifth Avenue Growth Fund".
05/04/20
The Wall Street Journal's monthly review of mutual funds and ETFs, Baron Fifth Avenue Growth Fund ranked among the top performing funds in its peer group for year-to-date total returns through April 30, 2020, according to Lipper.
Lipper Funds Category Average is not weighted and represents the straight average of annualized returns of each of the funds in the category.
02/07/20
Watch Baron Global Advantage Fund Portfolio Manager Alex Umansky talk about “big idea” companies in his February 7 appearance on PBS’s “Consuelo Mack’s “WealthTrack.”
12/13/19
Zacks Investment Research profiled Baron Fifth Avenue Growth Fund, noting its strong performance and lower fees and calling the Fund a “good potential choice for investors right now.” To view the full article, visit www.zacks.com.
04/29/19
In an article recognizing Baron Fifth Avenue Growth Fund as one of the “IBD Best Mutual Funds of 2019,” Investor’s Business Daily profiled portfolio manager Alex Umansky, highlighting his focus on companies with big ideas and his impressive performance over the last 10 years.
04/26/19
In an Investor’s Business Daily article published April 25th, 2019, Baron Fifth Avenue Growth Fund Portfolio Manager Alex Umansky discussed his investment process, including his focus on companies with big ideas and sustainable growth. To read the full article, click here.
12/14/18
In a December 14 Barron’s article, Alex Umansky, portfolio manager of Baron Global Advantage Fund and Baron Fifth Avenue Growth Fund, discussed several emerging market stocks he likes heading into 2019. To read the full article. (Subscription required to access).
09/10/18
In the September edition of "The Journal Report," The Wall Street Journal's monthly review of mutual funds and ETFs, Baron Fifth Avenue Growth Fund and Baron Opportunity Fund ranked among the top performing funds in their respective peer groups for year-to-date total return through August 31, according to Lipper.
Lipper Funds Category Average is not weighted and represents the straight average of annualized returns of each of the funds in the category.
SAI | 01/28/22 |
---|---|
XBRL Filings | 01/28/20 |
Prospectus | 01/28/22 |
Summary Prospectus | 01/28/22 |
Fact Sheet | 03/31/22 |
Baron Investment Funds Trust Semi- Annual Financial Report | 03/31/22 |
Baron Investment Funds Trust Annual Financial Report | 09/30/21 |
4Q21 BIFT NPORT | 12/31/21 |
2Q21 BIFT NPORT | 06/30/21 |
Investors should consider the investment objectives, risks, and charges and expenses of the investment carefully before investing. The prospectus and summary prospectuses contain this and other information about the Funds. You may obtain them from the Funds’ distributor, Baron Capital, Inc., by calling 1-800-99BARON or visiting www.BaronFunds.com. Please read them carefully before investing.
Risks: The Fund invests primarily in equity securities, which are subject to price fluctuations in the stock market. Even though the Fund is diversified, it may establish significant positions where the Adviser has the greatest conviction. This could increase volatility of the Fund’s returns.
The Fund may not achieve its objectives.
Definitions (provided by BAMCO, Inc.): The indexes are unmanaged. The S&P 500 Index measures the performance of 500 widely held large-cap U.S. companies. The Russell 1000® Growth Index measures the performance of large-sized U.S. companies that are classified as growth. The indexes and the Fund are with dividends, which positively impact the performance results. The indexes and the Fund are with dividends, which positively impact the performance results. Index performance is not fund performance. Investors cannot invest directly in an index.
Definitions (provided by BAMCO, Inc.): Standard Deviation: measures the degree to which a fund’s performance has varied from its average performance over a particular time period. The greater the standard deviation, the greater a fund’s volatility (risk). Sharpe Ratio: is a risk-adjusted performance statistic that measures reward per unit of risk. The higher the Sharpe ratio, the better a fund’s risk adjusted performance. Alpha: measures the difference between a fund’s actual returns and its expected performance, given its level of risk as measured by beta. Beta: measures a fund’s sensitivity to market movements. The beta of the market is 1.00 by definition. R-Squared: measures how closely a fund’s performance correlates to the performance of the benchmark index, and thus is a measurement of what portion of its performance can be explained by the performance of the index. Values for R-Squared range from 0 to 100, where 0 indicates no correlation and 100 indicates perfect correlation. Tracking Error: measures how closely a fund’s return follows the benchmark index returns. It is calculated as the annualized standard deviation of the difference between the fund and the index returns. Information Ratio: measures the excess return of a fund divided by the amount of risk the fund takes relative to the benchmark index. The higher the information ratio, the higher the excess return expected of the fund, given the amount of risk involved. Upside Capture: explains how well a fund performs in time periods where the benchmark’s returns are greater than zero. Downside Capture: explains how well a fund performs in time periods where the benchmark’s returns are less than zero
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. Active Share is a term used to describe the share of a portfolio’s holdings that differ from that portfolio’s benchmark index. It is calculated by comparing the weight of each holding in the Fund to that holding’s weight in the benchmark. Positions with either a positive or negative weighting versus the benchmark have Active Share. An Active Share of 100% implies zero overlap with the benchmark. Active Share was introduced in 2006 in a study by Yale academics, M. Cremers and A. Petajisto, as a measure of active portfolio management.
One year turnover information to the most recent quarter and average market cap (unweighted) is available upon request.
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”). All GICS data is provided “as is” with no warranties. The Adviser may have reclassified/classified certain securities in or out of a sub-industry. Such reclassifications are not supported by S&P or MSCI.
© Baron 2022 All rights reserved
Investment Products: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED
BAMCO, Inc. is an investment adviser registered with the U.S. Securities and Exchange Commission (SEC). Baron Capital, Inc. is a broker-dealer registered with the SEC and member of the Financial Industry Regulatory Authority, Inc. (FINRA).