The Fund invests primarily in high-growth businesses of any market capitalization benefiting from innovation through development of pioneering, transformative, or technologically advanced products and services. Diversified.
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The Fund invests primarily in high-growth businesses of any market capitalization benefiting from innovation through development of pioneering, transformative, or technologically advanced products and services. Diversified.
As of Mar 04, 2021
NAV | $41.65 |
---|---|
Daily Change ($) | -$1.94 |
Daily Change (%) | -4.45% |
YTD | -1.23% |
Inception Date | 2/29/2000 |
Overall (out of 1203 Funds)
Ratings based on risk-adjusted returns as of 01/31/2021
Category:US Fund Large Growth
Portfolio Manager
years of exp 20
years at baron 20
For the period ended 1/31/2021, the Baron Opportunity Fund received a 5-Star Overall Morningstar Rating™ and 5-Star 3-Year Rating. The Morningstar Ratings are based on the Morningstar Risk-Adjusted Return measures of 1203, and 1203 funds in the category, respectively. This Morningstar Rating is for the R6 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.
© 2020 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 03/04/21
NAV | Daily Change ($) | Daily Change (%) | MTD | QTD | YTD |
---|---|---|---|---|---|
$41.65 | -$1.94 | -4.45% | -7.53% | -1.23% | -1.23% |
as of 02/28/21
QTD1 | YTD1 | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | Expense Ratio2 | ||
---|---|---|---|---|---|---|---|---|---|
Gross | Net | ||||||||
BIOUX - Baron Opportunity Fund - R6 | 6.81% | 6.81% | 93.49% | 41.14% | 36.92% | 19.28% | 10.99% | 1.08% | 1.08% |
Russell 3000 Growth Index | -0.17% | -0.17% | 45.22% | 20.84% | 22.14% | 16.24% | 6.50% | ||
S&P 500 Index | 1.72% | 1.72% | 31.29% | 14.14% | 16.82% | 13.43% | 7.06% |
1Not annualized.
2Expense ratios are as of the fiscal year ended 9/30/2019
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, 2031, 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 12/31/20
1 Year | 3 Years | 5 Years | 10 Years | Since Inception | Expense Ratio2 | ||
---|---|---|---|---|---|---|---|
Gross | Net | ||||||
BIOUX - Baron Opportunity Fund - R6 | 89.34% | 42.36% | 31.15% | 19.10% | 10.73% | 1.08% | 1.08% |
Russell 3000 Growth Index | 38.26% | 22.50% | 20.67% | 16.93% | 6.57% | ||
S&P 500 Index | 18.40% | 14.18% | 15.22% | 13.88% | 7.03% |
1Not annualized.
2Expense ratios are as of the fiscal year ended 9/30/2019
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, 2031, 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.
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, 2031, 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 as of the fiscal year ended 9/30/2019
as of 02/28/21
Year | Baron Opportunity Fund | Russell 3000 Growth Index | S&P 500 Index |
---|---|---|---|
2020 | 89.34% | 38.26% | 18.40% |
2019 | 40.63% | 35.85% | 31.49% |
2018 | 8.34% | -2.12% | -4.38% |
2017 | 40.95% | 29.59% | 21.83% |
2016 | -4.56% | 7.39% | 11.96% |
2015 | 1.45% | 5.09% | 1.38% |
2014 | -1.40% | 12.44% | 13.69% |
2013 | 37.90% | 34.23% | 32.39% |
2012 | 14.04% | 15.21% | 16.00% |
2011 | -5.93% | 2.18% | 2.11% |
2010 | 25.74% | 17.64% | 15.06% |
2009 | 62.08% | 37.01% | 26.46% |
2008 | -46.06% | -38.44% | -37.00% |
2007 | 21.10% | 11.40% | 5.49% |
2006 | 12.14% | 9.46% | 15.79% |
2005 | 7.05% | 5.17% | 4.91% |
2004 | 25.59% | 6.93% | 10.88% |
2003 | 73.80% | 30.97% | 28.68% |
2002 | -29.01% | -28.03% | -22.06% |
2001 | -3.62% | -19.63% | -11.93% |
2000 | -38.98% | -23.60% | -2.45% |
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, 2031, 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.
2Expense ratios are as of the fiscal year ended 9/30/2019
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 |
---|---|---|---|---|---|---|---|---|---|
11/23/2020 | 11/24/2020 | 11/25/2020 | $0.0000 | $0.0000 | $0.1878 | $2.5970 | $2.7848 | $37.42 | |
11/25/2019 | 11/26/2019 | 11/27/2019 | $0.0000 | $0.0000 | $0.0000 | $1.6760 | $1.6760 | $23.49 | |
11/28/2018 | 11/29/2018 | 11/30/2018 | $0.0000 | $0.0000 | $0.0000 | $0.9258 | $0.9258 | $19.87 | 8.34% |
11/27/2017 | 11/28/2017 | 11/29/2017 | $0.0000 | $0.0000 | $0.0000 | $2.6493 | $2.6493 | $17.55 | 40.95% |
11/28/2016 | 11/29/2016 | 11/30/2016 | $0.0000 | $0.0000 | $0.0000 | $1.8905 | $1.8905 | $14.74 | -4.56% |
12/02/2015 | 12/03/2015 | 12/04/2015 | $0.0000 | $0.0000 | $0.0000 | $1.8170 | $1.8170 | $17.18 | 1.45% |
12/01/2014 | 12/02/2014 | 12/03/2014 | $0.0000 | $0.0000 | $0.0000 | $1.0304 | $1.0304 | $18.14 | -1.40% |
11/25/2013 | 11/26/2013 | 11/27/2013 | $0.0000 | $0.0000 | $0.5876 | $0.6148 | $1.2024 | $18.85 | 37.90% |
11/28/2012 | 11/29/2012 | 11/30/2012 | $0.0000 | $0.0000 | $0.0000 | $0.2400 | $0.2400 | $14.92 | 14.04% |
11/15/2000 | 11/16/2000 | 11/17/2000 | $0.0000 | $0.0000 | $0.0260 | $0.0000 | $0.0260 | $7.20 | -38.98% |
as of 12/31/20
3 Years | 5 Years | 10 Years | |
---|---|---|---|
Standard Deviation (%) | 22.27 | 19.47 | 17.93 |
Sharpe Ratio | 1.83 | 1.54 | 1.03 |
Alpha (%) | 16.00 | 7.71 | 0.73 |
Beta | 1.04 | 1.08 | 1.10 |
R-Squared (%) | 88.17 | 83.27 | 79.31 |
Tracking Error (%) | 7.69 | 8.06 | 8.29 |
Information Ratio | 2.58 | 1.30 | 0.26 |
Upside Capture (%) | 129.59 | 125.50 | 116.60 |
Downside Capture (%) | 81.30 | 98.17 | 121.55 |
Except for Standard Deviation and Sharpe Ratio, the performance based-characteristics above were calculated relative to the Baron Opportunity Fund's(BIOUX) benchmark Russell 3000 Growth Index. Performance statistics for additional periods will be provided on request. Source FactSet: SPAR.
NAV | $41.65 |
---|---|
Daily Change ($) | -$1.94 |
Daily Change (%) | -4.45% |
MTD | -7.53% |
QTD | -1.23% |
YTD | -1.23% |
BIOUX - Baron Opportunity Fund - R6 | Russell 3000 Growth Index | S&P 500 Index | |
---|---|---|---|
QTD1 | 6.81% | -0.17% | 1.72% |
YTD1 | 6.81% | -0.17% | 1.72% |
1 Year | 93.49% | 45.22% | 31.29% |
3 Years | 41.14% | 20.84% | 14.14% |
5 Years | 36.92% | 22.14% | 16.82% |
10 Years | 19.28% | 16.24% | 13.43% |
Since Inception | 10.99% | 6.50% | 7.06% |
Expense Ratio2 - Gross | 1.08% | ||
Expense Ratio2 - Net | 1.08% |
*As of 02/28/21
*Annualized as of 02/28/21
1Not annualized.
2Expense ratios are as of the fiscal year ended 9/30/2019
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, 2031, 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.
BIOUX - Baron Opportunity Fund - R6 | Russell 3000 Growth Index | S&P 500 Index | |
---|---|---|---|
1 Year | 89.34% | 38.26% | 18.40% |
3 Years | 42.36% | 22.50% | 14.18% |
5 Years | 31.15% | 20.67% | 15.22% |
10 Years | 19.10% | 16.93% | 13.88% |
Since Inception | 10.73% | 6.57% | 7.03% |
Expense Ratio2 - Gross | 1.08% | ||
Expense Ratio2 - Net | 1.08% |
*As of 12/31/20
*Annualized as of 02/28/21
1Not annualized.
2Expense ratios are as of the fiscal year ended 9/30/2019
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, 2031, 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 12/31/20
3 Years | 5 Years | 10 Years | |
---|---|---|---|
Standard Deviation (%) | 22.27 | 19.47 | 17.93 |
Sharpe Ratio | 1.83 | 1.54 | 1.03 |
Alpha (%) | 16.00 | 7.71 | 0.73 |
Beta | 1.04 | 1.08 | 1.10 |
R-Squared (%) | 88.17 | 83.27 | 79.31 |
Tracking Error (%) | 7.69 | 8.06 | 8.29 |
Information Ratio | 2.58 | 1.30 | 0.26 |
Upside Capture (%) | 129.59 | 125.50 | 116.60 |
Downside Capture (%) | 81.30 | 98.17 | 121.55 |
Except for Standard Deviation and Sharpe Ratio, the performance based-characteristics above were calculated relative to the Baron Opportunity Fund's(BIOUX) benchmark Russell 3000 Growth Index. Performance statistics for additional periods will be provided on request. Source FactSet: SPAR.
as of 02/28/21
Year | Baron Opportunity Fund | Russell 3000 Growth Index | S&P 500 Index |
---|---|---|---|
2020 | 89.34% | 38.26% | 18.40% |
2019 | 40.63% | 35.85% | 31.49% |
2018 | 8.34% | -2.12% | -4.38% |
2017 | 40.95% | 29.59% | 21.83% |
2016 | -4.56% | 7.39% | 11.96% |
2015 | 1.45% | 5.09% | 1.38% |
2014 | -1.40% | 12.44% | 13.69% |
2013 | 37.90% | 34.23% | 32.39% |
2012 | 14.04% | 15.21% | 16.00% |
2011 | -5.93% | 2.18% | 2.11% |
2010 | 25.74% | 17.64% | 15.06% |
2009 | 62.08% | 37.01% | 26.46% |
2008 | -46.06% | -38.44% | -37.00% |
2007 | 21.10% | 11.40% | 5.49% |
2006 | 12.14% | 9.46% | 15.79% |
2005 | 7.05% | 5.17% | 4.91% |
2004 | 25.59% | 6.93% | 10.88% |
2003 | 73.80% | 30.97% | 28.68% |
2002 | -29.01% | -28.03% | -22.06% |
2001 | -3.62% | -19.63% | -11.93% |
2000 | -38.98% | -23.60% | -2.45% |
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, 2031, 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.
2Expense ratios are as of the fiscal year ended 9/30/2019
Record Date | 11/23/2020 | 11/25/2019 | 11/28/2018 | 11/27/2017 | 11/28/2016 | 12/02/2015 | 12/01/2014 | 11/25/2013 | 11/28/2012 | 11/15/2000 |
---|---|---|---|---|---|---|---|---|---|---|
Ex Date | 11/24/2020 | 11/26/2019 | 11/29/2018 | 11/28/2017 | 11/29/2016 | 12/03/2015 | 12/02/2014 | 11/26/2013 | 11/29/2012 | 11/16/2000 |
Payable Date | 11/25/2020 | 11/27/2019 | 11/30/2018 | 11/29/2017 | 11/30/2016 | 12/04/2015 | 12/03/2014 | 11/27/2013 | 11/30/2012 | 11/17/2000 |
Income | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $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 | $0.0000 |
Short-Term Capital Gain | $0.1878 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.5876 | $0.0000 | $0.0260 |
Long-Term Capital Gain | $2.5970 | $1.6760 | $0.9258 | $2.6493 | $1.8905 | $1.8170 | $1.0304 | $0.6148 | $0.2400 | $0.0000 |
Total | $2.7848 | $1.6760 | $0.9258 | $2.6493 | $1.8905 | $1.8170 | $1.0304 | $1.2024 | $0.2400 | $0.0260 |
Re-Invest NAV | $37.42 | $23.49 | $19.87 | $17.55 | $14.74 | $17.18 | $18.14 | $18.85 | $14.92 | $7.20 |
Calendar-Yr Return | 8.34% | 40.95% | -4.56% | 1.45% | -1.40% | 37.90% | 14.04% | -38.98% |
as of 12/31/20
Baron Opportunity Fund | Russell 3000 Growth Index | |
---|---|---|
Net Assets | $1.41 billion | |
# of Equity Securities / % of Net Assets | 76 / 96.0% | |
Turnover (3 Year Average) | 31.39% | |
Active Share | 66.2% | |
Median Market Cap | $23.97 billion | $2.17 billion |
Weighted Average Market Cap | $363.08 billion | $675.58 billion |
EPS Growth (3-5 year forecast) | 22.0% | 17.7% |
Price/Earnings Ratio (trailing 12-month) | 48.7 | 37.4 |
Price/Book Ratio | 8.9 | 9.2 |
Price/Sales Ratio | 9.6 | 4.7 |
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 02/28/21
Open All Close All | Holding | Sector | % of Net Assets |
---|---|---|---|
Microsoft CorporationMicrosoft Corporation (MSFT) is a software company traditionally known for its Windows and Office products. Over the last five years, it has built a $60 billion cloud business. This includes its infrastructure-as-a-service Azure business, Office 365, and Dynamics 365 (Microsoft's CRM offering). |
Information Technology | 8.0% | |
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 | 4.8% | |
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 | 4.6% | |
Tripadvisor Inc |
Communication Services | 3.0% | |
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 offers energy generation solutions and battery-based energy storage and recently announced it will produce batteries as well. |
Consumer Discretionary | 2.8% | |
ZoomInfo Technologies Inc.ZoomInfo Technologies, Inc. (ZI) operates a cloud-based B2B intelligence platform that provides sales and marketing teams with data and analytics on 14 million companies and 120 million professionals, enabling sales professionals to identify and target prospects, shorten sales cycles, and increase win rates. |
Communication Services | 2.4% | |
Opendoor Technologies Inc.Opendoor Technologies Inc. (OPEN) operates the leading iBuying digital platform in the U.S., enabling consumers to buy and sell homes instantly. On Opendoor, buyers can tour properties virtually, make offers, and receive financing, while sellers can receive express cash offers with flexible close dates. |
Real Estate | 2.3% | |
Pinterest, Inc.Pinterest, Inc. (PINS) is an American image sharing, search, and social media platform where people discover, share, and save ideas. Users treat the site as a catalog of ideas that inspire DIY projects, recipes, home improvements, party décor, style inspiration, and many other activities. |
Communication Services | 2.2% | |
RingCentral, Inc.RingCentral, Inc. (RNG) provides global enterprise cloud communications and collaboration software, a unified solution across multiple locations and devices that allows for communications across multiple channels, including voice, video, collaboration, conferencing, online meetings, and fax. |
Information Technology | 2.2% | |
Zillow Group, Inc.Zillow Group, Inc. (ZG) operates the leading residential real estate websites in the U.S., including Zillow.com, Trulia.com, StreetEasy.com, and Hotpads.com. Zillow also operates a mortgage marketplace and the Zillow Offers home-buying business. |
Communication Services | 2.0% | |
Total |
34.3% |
Top Ten Fund Holdings based on net assets. Portfolio holdings may change over time.
as of 12/31/20
Name | Sector | % of Net Assets |
---|---|---|
Microsoft Corporation |
Information Technology | 6.7% |
Amazon.com, Inc. |
Consumer Discretionary | 5.5% |
Alphabet Inc. - Cl C |
Communication Services | 3.8% |
Tesla, Inc. |
Consumer Discretionary | 3.7% |
RingCentral, Inc. |
Information Technology | 2.5% |
ZoomInfo Technologies Inc. |
Communication Services | 2.5% |
Facebook, Inc. |
Communication Services | 2.4% |
Opendoor Technologies Inc. - Restricted |
Real Estate | 2.3% |
Pinterest, Inc. - Class A |
Communication Services | 2.1% |
Guidewire Software, Inc. |
Information Technology | 2.0% |
Snap Inc - a |
Communication Services | 2.0% |
Zillow Group, Inc. - Cl. C |
Communication Services | 1.9% |
Visa, Inc. |
Information Technology | 1.9% |
Alibaba Group Holding Limited - ADR |
Consumer Discretionary | 1.8% |
Arrowhead Pharmaceuticals, Inc. |
Health Care | 1.8% |
PayPal Holdings, Inc. |
Information Technology | 1.8% |
argenx SE - ADR |
Health Care | 1.7% |
Mastercard Incorporated |
Information Technology | 1.7% |
Gartner, Inc. |
Information Technology | 1.5% |
Splunk, Inc. |
Information Technology | 1.5% |
Pacific Biosciences of California, Inc. |
Health Care | 1.5% |
Acceleron Pharma Inc. |
Health Care | 1.5% |
Par Technology Corp/Del |
Information Technology | 1.3% |
GDS Holdings Limited - ADR |
Information Technology | 1.3% |
Ceridian HCM Holding Inc. |
Information Technology | 1.3% |
Kratos Defense & Security |
Industrials | 1.3% |
CoStar Group, Inc. |
Industrials | 1.3% |
Snowflake Inc. |
Information Technology | 1.2% |
Wix.com Ltd. |
Information Technology | 1.2% |
Farfetch Limited |
Consumer Discretionary | 1.2% |
QuantumScape Corporation - PIPE |
Industrials | 1.2% |
Purple Innovation, Inc. |
Consumer Discretionary | 1.2% |
CareDx, Inc. |
Health Care | 1.2% |
Endava plc -ADR |
Information Technology | 1.1% |
Shockwave Medical Inc |
Health Care | 1.1% |
Adobe, Inc. |
Information Technology | 1.1% |
NVIDIA Corporation |
Information Technology | 1.1% |
MercadoLibre, Inc. |
Consumer Discretionary | 1.0% |
ServiceNow, Inc. |
Information Technology | 1.0% |
Vroom, Inc. |
Consumer Discretionary | 1.0% |
CrowdStrike Holdings, Inc. |
Information Technology | 0.9% |
Electronic Arts Inc. |
Communication Services | 0.9% |
Intuitive Surgical, Inc. |
Health Care | 0.9% |
Netflix, Inc. |
Communication Services | 0.9% |
Take-Two Interactive Software, Inc. |
Communication Services | 0.9% |
Rexford Industrial Realty, Inc. |
Real Estate | 0.8% |
Stitch Fix, Inc. |
Consumer Discretionary | 0.8% |
Rivian Automotive, Inc.. - Series E Preferred Stock |
Consumer Discretionary | 0.8% |
PTC Therapeutics |
Health Care | 0.7% |
Schrodinger, Inc. |
Health Care | 0.7% |
Installed Building Products, Inc. |
Consumer Discretionary | 0.7% |
The Trade Desk |
Information Technology | 0.7% |
Vertex Pharmaceuticals Incorporated |
Health Care | 0.7% |
Equinix, Inc. |
Real Estate | 0.7% |
Edwards Lifesciences Corp. |
Health Care | 0.7% |
Illumina, Inc. |
Health Care | 0.6% |
Guardant Health, Inc. |
Health Care | 0.6% |
Desktop Metal, Inc. - Restricted |
Industrials | 0.6% |
Adyen N.V. |
Information Technology | 0.5% |
10X Genomics, Inc. |
Health Care | 0.5% |
Farmers Business Network, Inc. - Private |
Materials | 0.5% |
ION Acquisition Corp 1 Ltd. |
Unclassified | 0.5% |
Altimeter Growth Corp. |
Unclassified | 0.4% |
DoorDash Inc. |
Consumer Discretionary | 0.4% |
Space Exploration Technologies Corp. Series N Preferred Stock |
Industrials | 0.4% |
Dragoneer Growth Opportunities Corp. |
Unclassified | 0.4% |
Square, Inc. - Class a |
Information Technology | 0.4% |
Zoom Video Communications, Inc. |
Information Technology | 0.4% |
Alexandria Real Estate Equities, Inc. |
Real Estate | 0.4% |
MarketAxess Holdings Inc. |
Financials | 0.4% |
NEXTDC Limited |
Information Technology | 0.4% |
Certara, Inc. |
Health Care | 0.4% |
Veeva Systems Inc. Cl - A |
Health Care | 0.3% |
Arco Platform, Ltd. - Class a |
Consumer Discretionary | 0.3% |
Seer, Inc. - Class A |
Health Care | 0.3% |
Gds Holdings Limited - Local Cl A |
Information Technology | 0.3% |
Airbnb, Inc. |
Consumer Discretionary | 0.0% |
As of 02/28/21
As of 02/28/21
Colors of Sub-Industry bars correspond to the GICS sector chart.
Quarterly as of 12/31/20
Top Contributors | Average Weight | Contribution |
---|---|---|
Tesla, Inc. | 3.66% | 2.16% |
Pacific Biosciences of California, Inc. | 1.79% | 1.91% |
Snap Inc. | 1.93% | 1.35% |
Opendoor Technologies Inc. | 0.45% | 1.32% |
QuantumScape Corporation | 0.38% | 1.17% |
Quarterly as of 12/31/20
Top Detractors | Average Weight | Contribution |
---|---|---|
Alibaba Group Holding Limited | 2.17% | -0.50% |
Vroom, Inc. | 1.07% | -0.35% |
Splunk, Inc. | 1.66% | -0.21% |
Zoom Video Communications, Inc. | 0.64% | -0.19% |
Vertex Pharmaceuticals Incorporated | 0.69% | -0.13% |
Source: FactSet PA.
01/23/21
Baron Opportunity, Baron Partners, Baron Focused Growth, Baron Discovery, Baron WealthBuilder, Baron Global Advantage, and Baron Emerging Markets Funds were listed among Kiplinger’s top funds for 2020.
01/21/21
In a January 21, 2021, article in Fortune, “The overlooked tech portfolio: Great stocks that aren't big names,” Mike Lippert, portfolio manager of Baron Opportunity Fund, discusses some less-familiar technology stocks he believes are poised for strong growth.
07/31/20
In a July 31, 2020, appearance, Mike Lippert, Baron’s Head of Technology Research and Portfolio Manager of Baron Opportunity Fund, talks about tech earnings and the risks of regulation. (subscription required for access)
07/27/20
Mike Lippert, Head of Technology Research at Baron Capital and Portfolio Manager of Baron Opportunity Fund, joins Oliver Renick to talk about differentiating between short term blips and long-term secular trends that have accelerated due to the pandemic.
07/06/20
Mike Lippert, Head of Technology Research at Baron Capital and Portfolio Manager of Baron Opportunity Fund, discusses the impact of the COVID-19 pandemic on digital advertising stocks.
07/06/20
Mike Lippert, Baron Capital’s Head of Technology Research and Portfolio Manager of Baron Opportunity Fund, speaks about the importance of thinking about what the post-COVID-19 world will look like from an investment standpoint. (subscription required for access)
05/18/20
In a May 18, 2020 interview on the Gaining Perspective podcast, Baron Opportunity Fund Portfolio Manager Mike Lippert discusses how he finds companies poised to potentially benefit from long-term secular growth trends in a volatile and uncertain investment environment. Click here to listen to the podcast.
05/14/20
In a May 14, 2020, interview with veteran financial journalist Chuck Jaffe, Mike Lippert, portfolio manager of Baron Opportunity Fund, discusses investment opportunities in cloud computing and other technologies that stand to benefit from a more permanent, long-term shift to independent work spaces.
05/04/20
Mike Lippert, portfolio manager of Baron Opportunity Fund and Head of Technology Research, discusses digital transformation in the “new normal” world in a May 4, 2020, interview with Oliver Renick.
05/01/20
Baron Capital is pleased to announce that Mike Lippert has been named Head of Technology Research. In addition, Ishay Levin has been promoted to assistant portfolio manager of Baron Opportunity Fund and Guy Tartakovsky has been promoted to assistant portfolio manager of Baron Global Advantage Fund.
SAI | 01/28/21 |
---|---|
XBRL Filings | 01/28/20 |
Prospectus | 01/28/21 |
Summary Prospectus | 01/28/21 |
Fact Sheet | 12/31/20 |
Baron Investment Funds Trust Semi-Annual Financial Report | 03/31/20 |
Baron Investment Funds Trust Annual Financial Report | 09/30/20 |
Notice re: Tesla Shares | 02/08/21 |
2Q20 BIFT NPORT | 06/30/20 |
4Q20 BIFT NPORT | 12/31/20 |
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: Securities issued by small and medium sized companies may be thinly traded and may be more difficult to sell during market downturns. Companies propelled by innovation, including technology advances and new business models, may present the risk of rapid change and product obsolescence, and their success may be difficult to predict for the long term. 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.
The indexes are unmanaged. The Russell 3000® Growth Index measures the performance of the broad growth segment of the U.S. equity universe comprised of the largest 3000 U.S. companies representing approximately 98% of the investable U.S. equity market, the S&P 500 Index of 500 widely held large-cap U.S. companies. The indexes and the Fund are with dividends, which positively impact the performance results. Russell Investment Group is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell is a trademark of Russell Investment Group. 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 2021 All rights reserved
Disclosure
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 limited purpose broker-dealer registered with the SEC and member of the Financial Industry Regulatory Authority, Inc. (FINRA).