The Fund is an equity allocation strategy that invests exclusively in other Baron Funds. The Fund enables investors to obtain growth equity exposures across market caps, geographies, and sectors.
The information contained on this site is intended for institutional investors only, and is published strictly for informational purposes only without regard to the investment objective, financial situation or specific needs of any particular investor. The information is not intended for use by institutional investors in a jurisdiction where distribution or purchase is not authorized.
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Past performance is not a guarantee of future performance. Investment results and principal value will fluctuate so shares, when redeemed, may be worth more or less than their original cost. Investors should be aware of the additional risks associated with investments in non-diversification, undervalued or overlooked companies and investments in specific industries. Additional risks may include those associated with investing in foreign securities, emerging markets, and companies with relatively small market capitalizations.
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The Fund is an equity allocation strategy that invests exclusively in other Baron Funds. The Fund enables investors to obtain growth equity exposures across market caps, geographies, and sectors.
As of Jun 05, 2023
NAV | $15.81 |
---|---|
Daily Change ($) | -$0.03 |
Daily Change (%) | -0.19% |
YTD | 12.61% |
Inception Date | 12/29/2017 |
Overall (out of 182 Funds)
Ratings based on risk-adjusted returns as of 04/30/2023
Category:US Fund Aggressive Allocation
Portfolio Manager
years of exp 53
years at baron 41
Portfolio Manager
years of exp 20
years at baron 19
Morningstar classifies funds as being large-cap, mid-cap, or small-cap based on the market capitalization of the fund’s stock holdings; and as value, blend, or growth based on the value-growth orientation of the stock holdings. The nine possible combinations of these characteristics correspond to the nine squares of the Morningstar Style Box–size is displayed along the vertical axis and style is displayed along the horizontal axis. Please note that the style boxes indicate the Fund’s equity style, not necessarily its Morningstar Category.
For the period ended 3/31/2023, the Baron WealthBuilder Fund received a 5-Star Overall Morningstar Rating™, 4-Star 3-Year Rating, and 5-Star 5-Year Rating. The Morningstar Ratings are based on the Morningstar Risk-Adjusted Return measures of 192, 192, and 185 funds in the category, respectively. This Morningstar Rating is for the Retail share class only; other classes may have different performance characteristics.
© 2023 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
as of 06/05/23
NAV | Daily Change ($) | Daily Change (%) | MTD | QTD | YTD |
---|---|---|---|---|---|
$15.81 | -$0.03 | -0.19% | 2.73% | 2.07% | 12.61% |
as of 05/31/23
QTD1 | YTD1 | 1 Year | 3 Years | 5 Years | Since Inception | Expense Ratio2 | ||
---|---|---|---|---|---|---|---|---|
Gross3 | Net | |||||||
BWBFX - Baron WealthBuilder Fund | -0.65% | 9.62% | 1.04% | 10.17% | 10.83% | 11.17% | 1.40% | 1.36% |
S&P 500 Index | 2.00% | 9.65% | 2.92% | 12.92% | 11.01% | 10.53% | ||
MSCI ACWI Index | 0.35% | 7.68% | 0.85% | 10.07% | 6.77% | 6.26% |
1Not annualized.
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 Baron Fund expenses pursuant to a contract expiring on August 29, 2033, 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.
as of 03/31/23
YTD1 | 1 Year | 3 Years | 5 Years | Since Inception | Expense Ratio2 | ||
---|---|---|---|---|---|---|---|
Gross3 | Net | ||||||
BWBFX - Baron WealthBuilder Fund | 10.33% | -14.28% | 19.84% | 11.77% | 11.68% | 1.33% | 1.30% |
S&P 500 Index | 7.50% | -7.73% | 18.60% | 11.19% | 10.47% | ||
MSCI ACWI Index | 7.31% | -7.44% | 15.36% | 6.93% | 6.39% |
1Not annualized.
2Expense ratios are based on fiscal year ended 12/31/21.
3Includes Acquired Fund Fees and Expenses, which are indirect fees and expenses that the Fund incurs from investing in the securities of a select number of Baron mutual funds.
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, 2033, 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.
as of 05/31/23
Year | Baron WealthBuilder Fund | S&P 500 Index | MSCI ACWI Index |
---|---|---|---|
2022 | -32.75% | -18.11% | -18.36% |
2021 | 16.42% | 28.71% | 18.54% |
2020 | 62.45% | 18.40% | 16.25% |
2019 | 36.24% | 31.49% | 26.60% |
2018 | -6.58% | -4.38% | -9.42% |
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 |
---|---|---|---|---|---|---|---|---|---|
09/26/2022 | 09/27/2022 | 09/28/2022 | $0.0818 | $0.0000 | $0.0025 | $0.3713 | $0.4556 | $13.94 | -32.75% |
12/01/2021 | 12/02/2021 | 12/03/2021 | $0.0000 | $0.0000 | $0.0000 | $0.8164 | $0.8164 | $21.14 | 16.42% |
10/04/2021 | 10/05/2021 | 10/06/2021 | $0.0000 | $0.0000 | $0.0030 | $0.3684 | $0.3714 | $21.24 | 16.42% |
11/30/2020 | 12/01/2020 | 12/02/2020 | $0.0000 | $0.0000 | $0.0000 | $0.0780 | $0.0780 | $18.19 | 62.45% |
09/23/2020 | 09/24/2020 | 09/25/2020 | $0.0000 | $0.0000 | $0.0000 | $0.1654 | $0.1654 | $15.23 | 62.45% |
09/26/2019 | 09/27/2019 | 09/30/2019 | $0.0052 | $0.0000 | $0.0001 | $0.4263 | $0.4316 | $10.97 | 36.24% |
12/03/2018 | 12/04/2018 | 12/05/2018 | $0.0000 | $0.0000 | $0.0000 | $0.0134 | $0.0134 | $10.14 | -6.58% |
as of 03/31/23
3 Years | 5 Years | Since Inception | |
---|---|---|---|
Standard Deviation (%) | 25.96 | 24.17 | 23.80 |
Sharpe Ratio | 0.73 | 0.43 | 0.43 |
Alpha (%) | -1.74 | -0.69 | 0.06 |
Beta | 1.22 | 1.19 | 1.18 |
R-Squared (%) | 82.15 | 84.44 | 84.41 |
Tracking Error (%) | 11.79 | 10.19 | 9.99 |
Information Ratio | 0.11 | 0.06 | 0.12 |
Upside Capture (%) | 113.43 | 110.27 | 110.37 |
Downside Capture (%) | 118.35 | 112.19 | 109.49 |
NAV | $15.81 |
---|---|
Daily Change ($) | -$0.03 |
Daily Change (%) | -$0.03 |
MTD | 2.73% |
QTD | 2.07% |
YTD | 12.61% |
BWBFX - Baron WealthBuilder Fund | S&P 500 Index | MSCI ACWI Index | |
---|---|---|---|
QTD1 | -0.65% | 2.00% | 0.35% |
YTD1 | 9.62% | 9.65% | 7.68% |
1 Year | 1.04% | 2.92% | 0.85% |
3 Years | 10.17% | 12.92% | 10.07% |
5 Years | 10.83% | 11.01% | 6.77% |
Since Inception | 11.17% | 10.53% | 6.26% |
Expense Ratio2 - Gross3 | 1.40% | ||
Expense Ratio2 - Net | 1.36% |
*As of 05/31/23
*Annualized as of 05/31/23
1Not annualized.
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 Baron Fund expenses pursuant to a contract expiring on August 29, 2033, 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.
BWBFX - Baron WealthBuilder Fund | S&P 500 Index | MSCI ACWI Index | |
---|---|---|---|
YTD1 | 10.33% | 7.50% | 7.31% |
1 Year | -14.28% | -7.73% | -7.44% |
3 Years | 19.84% | 18.60% | 15.36% |
5 Years | 11.77% | 11.19% | 6.93% |
Since Inception | 11.68% | 10.47% | 6.39% |
Expense Ratio2 - Gross3 | 1.33% | ||
Expense Ratio2 - Net | 1.30% |
*As of 03/31/23
*Annualized as of 05/31/23
1Not annualized.
2Expense ratios are based on fiscal year ended 12/31/21.
3Includes Acquired Fund Fees and Expenses, which are indirect fees and expenses that the Fund incurs from investing in the securities of a select number of Baron mutual funds.
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, 2033, 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.
as of 03/31/23
3 Years | 5 Years | Since Inception | |
---|---|---|---|
Standard Deviation (%) | 25.96 | 24.17 | 23.80 |
Sharpe Ratio | 0.73 | 0.43 | 0.43 |
Alpha (%) | -1.74 | -0.69 | 0.06 |
Beta | 1.22 | 1.19 | 1.18 |
R-Squared (%) | 82.15 | 84.44 | 84.41 |
Tracking Error (%) | 11.79 | 10.19 | 9.99 |
Information Ratio | 0.11 | 0.06 | 0.12 |
Upside Capture (%) | 113.43 | 110.27 | 110.37 |
Downside Capture (%) | 118.35 | 112.19 | 109.49 |
as of 05/31/23
Year | Baron WealthBuilder Fund | S&P 500 Index | MSCI ACWI Index |
---|---|---|---|
2022 | -32.75% | -18.11% | -18.36% |
2021 | 16.42% | 28.71% | 18.54% |
2020 | 62.45% | 18.40% | 16.25% |
2019 | 36.24% | 31.49% | 26.60% |
2018 | -6.58% | -4.38% | -9.42% |
Record Date | 09/26/2022 | 12/01/2021 | 10/04/2021 | 11/30/2020 | 09/23/2020 | 09/26/2019 | 12/03/2018 |
---|---|---|---|---|---|---|---|
Ex Date | 09/27/2022 | 12/02/2021 | 10/05/2021 | 12/01/2020 | 09/24/2020 | 09/27/2019 | 12/04/2018 |
Payable Date | 09/28/2022 | 12/03/2021 | 10/06/2021 | 12/02/2020 | 09/25/2020 | 09/30/2019 | 12/05/2018 |
Income | $0.0818 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0052 | $0.0000 |
Return of Capital | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 |
Short-Term Capital Gain | $0.0025 | $0.0000 | $0.0030 | $0.0000 | $0.0000 | $0.0001 | $0.0000 |
Long-Term Capital Gain | $0.3713 | $0.8164 | $0.3684 | $0.0780 | $0.1654 | $0.4263 | $0.0134 |
Total | $0.4556 | $0.8164 | $0.3714 | $0.0780 | $0.1654 | $0.4316 | $0.0134 |
Re-Invest NAV | $13.94 | $21.14 | $21.24 | $18.19 | $15.23 | $10.97 | $10.14 |
Calendar-Yr Return | -32.75% | 16.42% | 16.42% | 62.45% | 62.45% | 36.24% | -6.58% |
as of 03/31/23
Baron WealthBuilder Fund | S&P 500 Index | |
---|---|---|
Net Assets | $471.78 million | |
# of Underlying Issuers | 436 | |
# of Mutual Funds Held | 16 | |
Turnover (3-Year Average) | 9.32% | |
Active Share | 85.7% | |
Median Market Cap | $11.96 billion | $29.87 billion |
Weighted Average Market Cap | $120.11 billion | $542.05 billion |
EPS Growth (3-5 year forecast) | 21.4% | 12.2% |
Price/Earnings Ratio (trailing 12-month) | 27.3 | 19.7 |
Price/Book Ratio | 3.7 | 3.3 |
Price/Sales Ratio | 3.3 | 2.3 |
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 03/31/23
Name | Asset Class | % of Long Positions |
---|---|---|
Baron Growth Fund- Institutional Shares |
Small-Cap Growth | 15.5% |
Baron Partners Fund - Institutional Shares |
All-Cap Growth | 13.8% |
Baron Asset Fund- Institutional Shares |
Mid-Cap Growth | 13.2% |
Baron Small Cap Fund- Institutional Shares |
Small-Cap Growth | 12.8% |
Baron Focused Growth Fund - Institutional Shares |
Small- to Mid-Cap Growth | 6.4% |
Baron Real Estate Fund - Institutional Shares |
Sector | 5.9% |
Baron Discovery Fund- Institutional Shares |
Small-Cap Growth | 4.8% |
Baron Opportunity Fund- Institutional Shares |
All-Cap Growth | 4.0% |
Baron Fifth Avenue Growth Fund- Institutional Shares |
Large-Cap Growth | 3.9% |
Baron Global Advantage Fund - Institutional Shares |
International | 3.5% |
Baron International Growth Fund - Institutional Shares |
International | 3.2% |
Baron Emerging Markets Fund - Institutional Shares |
International | 2.9% |
Baron Health Care Fund - Institutional Shares |
Sector | 2.8% |
Baron Durable Advantage Fund- Institutional Shares |
Large-Cap Growth | 2.6% |
Baron FinTech Fund- Institutional Shares |
Sector | 2.4% |
Baron Real Estate Income Fund - Institutional Shares |
Sector | 2.2% |
Portfolio holdings may change over time.
02/08/23
In a February 7, 2023 interview, Baron Capital CEO Ron Baron discusses investing for the long term in a volatile market.
12/12/22
Forbes interviews Baron Capital CEO Ron Baron about his time-tested approach to long-term investing in growth stocks.
08/23/22
In an August 25, 2022 appearance, Baron Capital CEO Ron Baron broke down potential buying opportunities he is seeing now.
06/22/22
In a June 22, 2022 interview with Kiplinger, Ron Baron, chairman, CEO, and portfolio manager at Baron Capital, breaks down what he looks for in growth companies, what he emphasizes to his portfolio managers and analysts, and his top stocks for the long run. Read the full Kiplinger article.
06/22/22
Kiplinger columnist Andrew Tanzer speaks with our executive team on our long-term, fundamental, active approach to growth investing. Read the full article on Kiplinger.
04/06/22
In an April 7, 2022 interview on CNBC Squawk Box, CEO Ron Baron explains why he is still a fan of Elon Musk and his companies, and why he plans to stay invested in his top holdings in Baron Partners Fund and Baron Focused Growth 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.)
05/06/21
In a May 6, 2021, interview on Money Life with Chuck Jaffe, Michael Baron, portfolio manager of Baron WealthBuilder Fund and Baron Partners Fund, Michael Baron discusses the drivers of Baron Partners Fund’s 15-year+ run of success and what they're doing to avoid regressing to the mean in the future.
04/17/21
In an April 17, 2021 cover article, “This Billionaire Investor Thinks Elon Musk will be a ‘Trillion Dollar Man’” Forbes profiled Baron Capital founder and CEO Ron Baron, including investment recommendations from Ron and his two sons, David Baron, who co-manages Baron Focused Growth Fund, and Michael Baron, who co-manages Baron Partners Fund and Baron WealthBuilder Fund with Ron.
03/22/21
In a profile of Baron Partners Fund, managed by Ron Baron and Michael Baron, who also manage Baron WealthBuilder Fund, Investor’s Business Daily describes Baron Partners Fund as “among the elite of the best mutual funds in 2021 in part because it buys stocks not just for today, but for the long term.” Read the full article.
SAI | 04/28/23 |
---|---|
Prospectus | 04/28/23 |
Summary Prospectus | 04/28/23 |
Fact Sheet | 03/31/23 |
Baron WealthBuilder Fund Annual Financial Report | 12/31/22 |
Baron WealthBuilder Fund Semi-Annual Financial Report | 06/30/22 |
1Q23 Baron WealthBuilder Fund NPORT | 03/31/23 |
3Q22 Baron WealthBuilder Fund NPORT | 09/30/22 |
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 is a non-diversified fund because it invests, at any given time, in the securities of a select number of Baron mutual funds (the “Underlying Funds”), representing specific investment strategies. The Fund can invest in funds holding U.S. and international stocks; small-cap, small to mid-cap, large-cap, all-cap stocks; and specialty stocks. Each of the Underlying Funds has its own investment risks, and those risks can affect the value of the Fund’s investments and therefore the value of the Fund’s shares. To the extent that the Fund invests more of its assets in one Underlying Fund than in another, it will have greater exposure to the risks of that Underlying Fund. For further information regarding the
investment risks of the Underlying Funds, please refer to the Underlying Funds’ prospectus.
The Fund may not achieve its objectives.
Definitions (provided by BAMCO, Inc.): The indexes are unmanaged. The MSCI ACWI Index measures the equity market performance of large and midcap securities across developed and emerging markets, including the United States. The S&P 500 Index measures the performance of 500 widely held large-cap U.S. companies. The indexes and the Fund are with dividends, which positively impact the performance results. All rights in the FTSE Russell Index (the “Index”) vest in the relevant LSE Group company which owns the Index. Russell® is a trade mark of the relevant LSE Group company and is used by any other LSE Group company under license. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. Index performance is not fund performance. Investors cannot invest directly in an index.
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 2023 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).