The Fund holds companies of any market capitalization that the portfolio managers believe have durable growth potential from the development, advancement, and/or use of technology. The Fund has exposure to U.S. securities but may have up to 35% in non-U.S. securities. Non-diversified.
Institutional Investors
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Overview
Objective & Strategy
SCT
Fund Facts
BTECX Snapshot
As of Apr 17, 2024
| NAV | $9.99 |
|---|---|
| Daily Change ($) | -$0.19 |
| Daily Change (%) | -1.87% |
| YTD | 9.78% |
| Inception Date | 12/31/2021 |
Equity Style
Risk & Return
This information is not currently available.
BTECX Portfolio Management
Michael Lippert
Portfolio Manager
years of exp 23
years at baron 23
Ashim Mehra
Portfolio Manager
years of exp 25
years at baron 13
Prices & Performance: Baron Technology Fund (BTECX)
Prices
as of 04/17/24
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| NAV | Daily Change ($) | Daily Change (%) | MTD | QTD | YTD |
|---|---|---|---|---|---|
| $9.99 | -$0.19 | -1.87% | -4.31% | -4.31% | 9.78% |
Performance
Quarterly Returns
as of 03/31/24
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| YTD1 | 1 Year | Since Inception | Expense Ratio2 | ||
|---|---|---|---|---|---|
| Gross | Net | ||||
| BTECX - Baron Technology Fund - I | 14.73% | 53.08% | 1.93% | 5.04% | 0.95% |
| MSCI ACWI Information Technology Index | 12.05% | 40.52% | 7.08% | ||
| S&P 500 Index | 10.56% | 29.88% | 6.13% | ||
1Expense ratios are estimated for the current fiscal year.
2Expense ratios are based on fiscal year ended 12/31/21.
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 Fund expenses pursuant to a contract expiring on August 29, 2034, 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.
| NAV | $9.99 |
|---|---|
| Daily Change ($) | -$0.19 |
| Daily Change (%) | -$0.19 |
| MTD | -4.31% |
| QTD | -4.31% |
| YTD | 9.78% |
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| BTECX - Baron Technology Fund - I | MSCI ACWI Information Technology Index | S&P 500 Index | |
|---|---|---|---|
| YTD1 | 14.73% | 12.05% | 10.56% |
| 1 Year | 53.08% | 40.52% | 29.88% |
| Since Inception | 1.93% | 7.08% | 6.13% |
| Expense Ratio2 - Gross | 5.04% | ||
| Expense Ratio2 - Net | 0.95% |
*As of 03/31/24
*Annualized as of 03/31/24
1Expense ratios are estimated for the current fiscal year.
2Expense ratios are based on fiscal year ended 12/31/21.
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 Fund expenses pursuant to a contract expiring on August 29, 2034, 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.
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| BTECX - Baron Technology Fund - I | MSCI ACWI Information Technology Index | S&P 500 Index | |
|---|---|---|---|
| YTD1 | 14.73% | 12.05% | 10.56% |
| 1 Year | 53.08% | 40.52% | 29.88% |
| Since Inception | 1.93% | 7.08% | 6.13% |
| Expense Ratio2 - Gross | 5.04% | ||
| Expense Ratio2 - Net | 0.95% |
*As of 03/31/24
*Annualized as of 03/31/24
1Expense ratios are estimated for the current fiscal year.
2Expense ratios are based on fiscal year ended 12/31/21.
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 Fund expenses pursuant to a contract expiring on August 29, 2034, 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.
This information is not currently available.
as of 03/31/24
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| Year | Baron Technology Fund | MSCI ACWI Information Technology Index | S&P 500 Index |
|---|---|---|---|
| 2023 | 63.38% | 51.02% | 26.29% |
| 2022 | -44.30% | -31.07% | -18.11% |
1Expense ratios are estimated for the current fiscal year.
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 Fund expenses pursuant to a contract expiring on August 29, 2034, 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.
Portfolio Characteristics
as of 03/31/24
| Baron Technology Fund | MSCI ACWI Information Technology Index | |
|---|---|---|
| Net Assets | $25.22 million | |
| # of Issuers / % of Net Assets | 41 / 97.5% | |
| Turnover (2 Year) | 23.37% | |
| Active Share | 62.7% | |
| Median Market Cap | $54.01 billion | $11.10 billion |
| Weighted Average Market Cap | $930.74 billion | $1.34 trillion |
| EPS Growth (3-5 year forecast) | 22.9% | 17.7% |
| Price/Earnings Ratio (trailing 12-month) | 52.8 | 35.8 |
| Price/Book Ratio | 7.8 | 5.5 |
| Price/Sales Ratio | 7.3 | 5.1 |
Contributors/Detractors
Contributors
Quarterly as of 03/31/24
| Top Contributors | Average Weight | Contribution |
|---|---|---|
| NVIDIA Corporation | 9.88% | 6.46% |
| Amazon.com, Inc. | 9.48% | 1.85% |
| Microsoft Corporation | 9.81% | 1.27% |
| Meta Platforms, Inc. | 3.98% | 1.23% |
| Advanced Micro Devices, Inc. | 4.44% | 1.04% |
Insights & News: Baron Technology Fund (BTECX)
Documents
| SAI | 04/28/23 |
|---|---|
| Prospectus | 04/28/23 |
| Summary Prospectus | 04/28/23 |
| Fact Sheet | 03/31/24 |
| Baron Select Funds Annual Financial Report | 12/31/23 |
| Baron Select Funds Semi-Annual Financial Report | 06/30/23 |
| 1Q23 Baron Select Funds NPORT | 03/31/23 |
| 3Q23 Baron Select Funds NPORT | 09/30/23 |
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: In addition to general market conditions, technology companies, including internet-related and information technology companies, as well as companies propelled by new technologies, may present the risk of rapid change and product obsolescence, and their successes may be difficult to predict for the long term. Technology companies may also be adversely affected by changes in governmental policies, competitive pressures and changing demand. Non-U.S. investments may involve additional risks to those inherent in U.S. investments, including exchange-rate fluctuations, political or economic instability, the imposition of exchange controls, expropriation, limited disclosure and illiquid markets. The Fund is non-diversified, which means it may have a greater percentage of its assets in a single issuer than a diversified fund. The Fund invests in companies of all sizes, including small and medium sized companies whose securities may be thinly traded and more difficult to sell during market downturns.
The Fund may not achieve its objectives.