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 Sep 29, 2023
NAV | $36.86 |
---|---|
Daily Change ($) | $0.27 |
Daily Change (%) | 0.74% |
YTD | 33.99% |
Inception Date | 4/30/2004 |
Portfolio Manager
years of exp 30
years at baron 12
as of 09/29/23
NAV | Daily Change ($) | Daily Change (%) | MTD | QTD | YTD |
---|---|---|---|---|---|
$36.86 | $0.27 | 0.74% | -5.24% | -3.48% | 33.99% |
as of 08/31/23
QTD1 | YTD1 | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | Expense Ratio2 | ||
---|---|---|---|---|---|---|---|---|---|
Gross | Net | ||||||||
BFTIX - Baron Fifth Avenue Growth Fund - I | 1.86% | 41.40% | 16.54% | -6.30% | 5.36% | 11.83% | 8.74% | 0.76% | 0.75% |
Russell 1000 Growth Index | 2.44% | 32.17% | 21.94% | 8.25% | 13.81% | 15.63% | 11.28% | ||
S&P 500 Index | 1.57% | 18.73% | 15.94% | 10.52% | 11.12% | 12.81% | 9.69% |
1Not annualized.
2Expense ratios are as of the fiscal year ended 9/30/2022.
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, 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.
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 3-, 5- and 10-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 06/30/23
QTD1 | YTD1 | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | Expense Ratio2 | ||
---|---|---|---|---|---|---|---|---|---|
Gross | Net | ||||||||
BFTIX - Baron Fifth Avenue Growth Fund - I | 16.01% | 38.82% | 25.30% | -2.62% | 6.39% | 12.27% | 8.72% | 0.76% | 0.75% |
Russell 1000 Growth Index | 12.81% | 29.02% | 27.11% | 13.73% | 15.14% | 15.74% | 11.24% | ||
S&P 500 Index | 8.74% | 16.89% | 19.59% | 14.60% | 12.31% | 12.86% | 9.69% |
1Not annualized.
2Expense ratios are as of the fiscal year ended 9/30/2022.
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, 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.
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 3-, 5- and 10-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 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.
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 3-, 5- and 10-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 08/31/23
Year | Baron Fifth Avenue Growth Fund | Russell 1000 Growth Index | S&P 500 Index |
---|---|---|---|
2022 | -50.49% | -29.14% | -18.11% |
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 9/30/2022.
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, 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.
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 3-, 5- and 10-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 06/30/23
3 Years | 5 Years | 10 Years | |
---|---|---|---|
Standard Deviation (%) | 27.17 | 25.32 | 20.28 |
Sharpe Ratio | -0.15 | 0.19 | 0.56 |
Alpha (%) | -15.19 | -8.28 | -4.15 |
Beta | 1.14 | 1.10 | 1.11 |
R-Squared (%) | 83.26 | 84.35 | 83.37 |
Tracking Error (%) | 11.54 | 10.24 | 8.49 |
Information Ratio | -1.42 | -0.85 | -0.41 |
Upside Capture (%) | 79.59 | 88.91 | 98.87 |
Downside Capture (%) | 129.40 | 115.15 | 116.55 |
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 | $36.86 |
---|---|
Daily Change ($) | $0.27 |
Daily Change (%) | $0.27 |
MTD | -5.24% |
QTD | -3.48% |
YTD | 33.99% |
BFTIX - Baron Fifth Avenue Growth Fund - I | Russell 1000 Growth Index | S&P 500 Index | |
---|---|---|---|
QTD1 | 1.86% | 2.44% | 1.57% |
YTD1 | 41.40% | 32.17% | 18.73% |
1 Year | 16.54% | 21.94% | 15.94% |
3 Years | -6.30% | 8.25% | 10.52% |
5 Years | 5.36% | 13.81% | 11.12% |
10 Years | 11.83% | 15.63% | 12.81% |
Since Inception | 8.74% | 11.28% | 9.69% |
Expense Ratio2 - Gross | 0.76% | ||
Expense Ratio2 - Net | 0.75% |
*As of 08/31/23
*Annualized as of 08/31/23
1Not annualized.
2Expense ratios are as of the fiscal year ended 9/30/2022.
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, 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.
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 3-, 5- and 10-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 | |
---|---|---|---|
QTD1 | 16.01% | 12.81% | 8.74% |
YTD1 | 38.82% | 29.02% | 16.89% |
1 Year | 25.30% | 27.11% | 19.59% |
3 Years | -2.62% | 13.73% | 14.60% |
5 Years | 6.39% | 15.14% | 12.31% |
10 Years | 12.27% | 15.74% | 12.86% |
Since Inception | 8.72% | 11.24% | 9.69% |
Expense Ratio2 - Gross | 0.76% | ||
Expense Ratio2 - Net | 0.75% |
*As of 06/30/23
*Annualized as of 08/31/23
1Not annualized.
2Expense ratios are as of the fiscal year ended 9/30/2022.
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, 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.
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 3-, 5- and 10-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 06/30/23
3 Years | 5 Years | 10 Years | |
---|---|---|---|
Standard Deviation (%) | 27.17 | 25.32 | 20.28 |
Sharpe Ratio | -0.15 | 0.19 | 0.56 |
Alpha (%) | -15.19 | -8.28 | -4.15 |
Beta | 1.14 | 1.10 | 1.11 |
R-Squared (%) | 83.26 | 84.35 | 83.37 |
Tracking Error (%) | 11.54 | 10.24 | 8.49 |
Information Ratio | -1.42 | -0.85 | -0.41 |
Upside Capture (%) | 79.59 | 88.91 | 98.87 |
Downside Capture (%) | 129.40 | 115.15 | 116.55 |
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 08/31/23
Year | Baron Fifth Avenue Growth Fund | Russell 1000 Growth Index | S&P 500 Index |
---|---|---|---|
2022 | -50.49% | -29.14% | -18.11% |
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 9/30/2022.
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, 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.
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 3-, 5- and 10-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 06/30/23
Baron Fifth Avenue Growth Fund | Russell 1000 Growth Index | |
---|---|---|
Net Assets | $467.62 million | |
# of Issuers / % of Net Assets | 29 / 98.8% | |
Turnover (3 Year Average) | 21.17% | |
Active Share | 79.9% | |
Median Market Cap | $40.27 billion | $16.59 billion |
Weighted Average Market Cap | $365.22 billion | $1.05 trillion |
EPS Growth (3-5 year forecast) | 38.1% | 17.1% |
Price/Earnings Ratio (trailing 12-month) | 78.3 | 34.8 |
Price/Book Ratio | 8.0 | 8.7 |
Price/Sales Ratio | 7.5 | 4.0 |
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 08/31/23
Open All Close All | Holding | Sector | % of Net Assets |
---|---|---|---|
NVIDIA CorporationNVIDIA Corporation (NVDA) is a fabless semiconductor company and a leader in gaming and accelerated computing. NVIDIA is powering the growth of artificial intelligence from the data center to the edge. |
Information Technology | 11.3% | |
Amazon.com, Inc.Amazon.com, Inc. (AMZN) is an e-commerce pioneer, innovator, and market share leader with a relentless focus on providing value and convenience to its customers. Amazon also operates the industry-leading cloud infrastructure business Amazon Web Services. |
Consumer Discretionary | 8.1% | |
ServiceNow, Inc.ServiceNow, Inc. (NOW) provides cloud-based solutions for workflow management. Its core products support IT Service Management and IT Operations Management. It is expanding its reach to include business management, performance analytics, customer service management, and security. |
Information Technology | 6.5% | |
Meta Platforms, Inc.Meta Platforms, Inc. (META) owns Facebook, the world's largest social network, with over 2.9 billion monthly and over 1.9 billion daily active users. Instagram, Messenger, WhatsApp, and Oculus are also part of the Meta Platforms network, with over 3.7 billion total monthly unique users across Meta products. |
Communication Services | 5.5% | |
Shopify Inc.Shopify Inc. (SHOP) is a cloud-based software provider offering an operating system for multi-channel commerce. The company serves over two million merchants that processed $197 billion of gross merchandise volume in 2022, making Shopify the second largest ecommerce player in the U.S. |
Information Technology | 5.1% | |
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 is also ramping internal battery cell production, energy solutions, and software offerings such as full self-driving and insurance. |
Consumer Discretionary | 5.1% | |
Mastercard IncorporatedMastercard Incorporated (MA) is a leading global payment network. The company authorizes and facilitates electronic payments for consumers, merchants, and banks. |
Financials | 4.8% | |
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 | 4.7% | |
Snowflake Inc.Snowflake Inc. (SNOW) provides a cloud-native data platform with use cases across data analytics, data sharing, and recently added transactional workloads. It enables storage and computation across leading public cloud providers and simpler and cheaper deployments with high concurrency usage. |
Information Technology | 4.4% | |
Datadog, Inc.Datadog, Inc. (DDOG) offers a software-as-a-service-based data analytics platform and out-of-the-box solutions, including infrastructure, application performance monitoring, log management, and cloud security to provide visibility into and secure IT environments. |
Information Technology | 3.6% | |
Total |
59.1% |
Top Ten Fund Holdings based on net assets. Portfolio holdings may change over time.
as of 06/30/23
Name | Sector | % of Net Assets |
---|---|---|
NVIDIA Corporation |
Information Technology | 10.2% |
Amazon.com, Inc. |
Consumer Discretionary | 8.0% |
ServiceNow, Inc. |
Information Technology | 6.5% |
Meta Platforms, Inc. |
Communication Services | 5.6% |
Tesla, Inc. |
Consumer Discretionary | 5.4% |
Intuitive Surgical, Inc. |
Health Care | 5.4% |
Snowflake Inc. |
Information Technology | 5.0% |
Shopify Inc. |
Information Technology | 4.8% |
Mastercard Incorporated |
Financials | 4.8% |
Datadog, Inc. - Class A |
Information Technology | 3.9% |
CrowdStrike Holdings, Inc. |
Information Technology | 3.6% |
The Trade Desk |
Communication Services | 3.5% |
ASML Holding N.V. |
Information Technology | 3.0% |
MercadoLibre, Inc. |
Consumer Discretionary | 3.0% |
Cloudflare, Inc. |
Information Technology | 2.8% |
argenx SE ADR |
Health Care | 2.3% |
Adyen N.V. 144A |
Financials | 2.3% |
Veeva Systems Inc. Cl - A |
Health Care | 2.1% |
Illumina, Inc. |
Health Care | 1.9% |
Block, Inc. |
Financials | 1.9% |
ZoomInfo Technologies Inc. |
Communication Services | 1.9% |
Endava plc -ADR |
Information Technology | 1.8% |
EPAM Systems, Inc. |
Information Technology | 1.7% |
Mobileye Global Inc. |
Consumer Discretionary | 1.5% |
Atlassian Corporation Plc |
Information Technology | 1.3% |
GitLab Inc. |
Information Technology | 1.3% |
Rivian Automotive, Inc. |
Consumer Discretionary | 1.3% |
GM Cruise Holdings LLC - Class G Preferred |
Industrials | 0.7% |
Space Exploration Technologies Corporation - Cl - A |
Industrials | 0.7% |
RIVIAN AUTOMOTIVE, INC. - Series F Common |
Consumer Discretionary | 0.3% |
Space Exploration Technologies Corporation - Cl - C |
Industrials | 0.2% |
As of 08/31/23
As of 08/31/23
Colors of Sub-Industry bars correspond to the GICS sector chart.
Quarterly as of 06/30/23
Top Contributors | Average Weight | Contribution |
---|---|---|
NVIDIA Corporation | 8.84% | 4.26% |
Amazon.com, Inc. | 7.84% | 2.07% |
Meta Platforms, Inc. | 5.38% | 1.83% |
Intuitive Surgical, Inc. | 5.34% | 1.71% |
Shopify Inc. | 4.70% | 1.70% |
Quarterly as of 06/30/23
Top Detractors | Average Weight | Contribution |
---|---|---|
EPAM Systems, Inc. | 2.12% | -0.73% |
Endava plc | 1.86% | -0.66% |
Illumina, Inc. | 2.39% | -0.62% |
MercadoLibre, Inc. | 3.62% | -0.41% |
Mobileye Global Inc. | 1.60% | -0.21% |
Source: FactSet PA.
06/26/23
In a June 26, 2023 article from Trustnet, Alex Umansky shares his views on why investing in disruptive growth remains an attractive opportunity despite recent setbacks.
10/11/22
CEO Ron Baron’s September 14, 2021 Bloomberg Wealth interview with David Rubenstein is featured in David’s latest book, How to Invest: Masters on the Craft. In the interview, Ron discusses his early days on Wall Street, the investment principles behind Baron Capital’s growth from $100,000 AUM to tens of billions of dollars, and what convinced him to invest in Tesla years before the mainstream realized the company’s potential. Watch the full Bloomberg News video.
As of September 30, 2022, the following Baron Funds had holdings in Tesla, Inc.: Baron Partners Fund – 45.5%; Baron Focused Growth Fund – 22.3%; Baron Fifth Avenue Fund – 5.4%; Baron Opportunity Fund – 5.1%; Baron Technology Fund – 3.4%; Baron Global Advantage Fund – 3.3%.
Portfolio holdings are subject to change. Current and future portfolio holdings are subject to risk.
08/08/22
Citywire interviews CEO and Baron Partners Fund Portfolio Manager Ron Baron about his time-tested investment approach that led him to Tesla, Inc. in 2014, well before the mainstream. Read the August 2, 2022 article [subscription required to access].
As of June 30, 2022, the following Baron Funds had holdings in Tesla, Inc.: Baron Partners Fund – 46.3%; Baron Focused Growth Fund – 23.6%; Baron Fifth Avenue Fund – 5.0%; Baron Opportunity Fund – 5.0%; Baron Technology Fund – 3.1%.
Portfolio holdings are subject to change. Current and future portfolio holdings are subject to risk.
02/04/22
In a February 4, 2022 interview, Alex Umansky, described by Insider as “one of Wall Street's best stock pickers”, discusses the changes he’s making to emerge with a stronger portfolio and explains 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.
SAI | 01/27/23 |
---|---|
Prospectus | 01/27/23 |
Summary Prospectus | 01/27/23 |
Fact Sheet | 06/30/23 |
Baron Investment Funds Trust Annual Financial Report | 09/30/22 |
Baron Investment Funds Trust Semi- Annual Financial Report | 03/31/23 |
2Q23 BIFT NPORT | 06/30/23 |
4Q22 BIFT NPORT | 12/31/22 |
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 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.
GICS sector/industry group/industry/sub-industry levels are sourced from the Global Industry Classification Standard (GICS®), jointly developed and exclusively owned by MSCI Inc. and S&P Dow Jones Indices. All GICS data is provided “as is” with no warranties. All GICS structure changes that have occurred since 2016 have been applied retroactively in historical holdings-based analyses, including performance attribution. The Adviser may have reclassified/classified certain securities in or out of a sub-industry within a sector. 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).