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Name

As of 07/15/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

BARON DISCOVERY FUND

BDFIX | Fund

$37.35

$1.83 B

0.00%

1.05%

Vitals

YTD Return

3.3%

1 yr return

6.3%

3 Yr Avg Return

11.8%

5 Yr Avg Return

0.6%

Net Assets

$1.83 B

Holdings in Top 10

29.1%

52 WEEK LOW AND HIGH

$37.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.05%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 36.52%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 07/15/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

BARON DISCOVERY FUND

BDFIX | Fund

$37.35

$1.83 B

0.00%

1.05%

BDFIX - Profile

Distributions

  • YTD Total Return 3.3%
  • 3 Yr Annualized Total Return 11.8%
  • 5 Yr Annualized Total Return 0.6%
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio -0.94%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    BARON DISCOVERY FUND
  • Fund Family Name
    BARONFUNDS
  • Inception Date
    Sep 30, 2013
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Laird Bieger

Fund Description

The Fund is a diversified fund that, under normal circumstances, invests primarily in equity securities of U.S. small-sized growth companies. The Adviser defines small-sized companies as those, at the time of purchase, with market capitalizations up to the largest market cap stock in the Russell 2000 Growth Index at reconstitution, or companies with market capitalizations up to $2.5 billion, whichever is larger. The Adviser seeks to invest in businesses it believes have significant opportunities for growth, sustainable competitive advantages, exceptional management, and an attractive valuation. Because of its long-term approach, the Fund could have a significant percentage of its assets invested in securities that have appreciated beyond their market capitalizations at the time of the Fund’s investment.
Read More

BDFIX - Performance

Return Ranking - Trailing

Period BDFIX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.3% -22.7% 64.7% 95.77%
1 Yr 6.3% -20.0% 84.1% 89.72%
3 Yr 11.8%* -6.2% 30.9% 74.19%
5 Yr 0.6%* -9.2% 39.6% 83.44%
10 Yr 13.5%* 4.0% 27.0% 20.26%

* Annualized

Return Ranking - Calendar

Period BDFIX Return Category Return Low Category Return High Rank in Category (%)
2025 11.0% -58.0% 42.0% 19.35%
2024 16.3% -63.4% 62.9% 23.59%
2023 22.6% -20.5% 54.6% 7.09%
2022 -35.1% -82.1% 32.2% 74.64%
2021 1.2% -90.6% 300.1% 29.63%

Total Return Ranking - Trailing

Period BDFIX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.3% -22.7% 64.7% 95.77%
1 Yr 6.3% -20.0% 84.1% 89.72%
3 Yr 11.8%* -6.2% 30.9% 74.19%
5 Yr 0.6%* -9.2% 39.6% 83.44%
10 Yr 13.5%* 4.0% 27.0% 20.26%

* Annualized

Total Return Ranking - Calendar

Period BDFIX Return Category Return Low Category Return High Rank in Category (%)
2025 11.0% -23.5% 42.0% 33.47%
2024 16.3% -3.8% 68.8% 29.44%
2023 22.6% -19.0% 54.6% 8.10%
2022 -35.1% -59.9% 32.2% 82.82%
2021 4.9% -22.7% 411.9% 72.43%

NAV & Total Return History

BDFIX - Holdings

Concentration Analysis

BDFIX Category Low Category High BDFIX % Rank
Net Assets 1.83 B 5.7 M 47 B 34.68%
Number of Holdings 55 6 1218 85.69%
Net Assets in Top 10 475 M 509 K 3.7 B 31.85%
Weighting of Top 10 29.06% 9.6% 100.0% 30.51%

Top 10 Holdings

  1. Liberty Live Holdings Inc 3.82%
  2. Advanced Energy Industries Inc 3.79%
  3. Dynatrace Inc 3.64%
  4. Loar Holdings Inc 2.80%
  5. Guidewire Software Inc 2.74%
  6. CareDx Inc 2.54%
  7. Forgent Power Solutions Inc 2.46%
  8. SiteOne Landscape Supply Inc 2.44%
  9. Waystar Holding Corp 2.43%
  10. Establishment Labs Holdings Inc 2.39%

Asset Allocation

Weighting Return Low Return High BDFIX % Rank
Stocks 		92.61% 87.47% 107.71% 97.58%
Cash 		7.39% 0.00% 33.61% 7.86%
Preferred Stocks 		0.00% 0.00% 7.35% 60.08%
Other 		0.00% -0.55% 6.22% 63.10%
Convertible Bonds 		0.00% 0.00% 1.57% 55.44%
Bonds 		0.00% 0.00% 5.16% 55.85%

Stock Sector Breakdown

Weighting Return Low Return High BDFIX % Rank
Technology 		30.55% 2.91% 75.51% 16.53%
Healthcare 		21.48% 0.00% 47.90% 57.06%
Industrials 		18.79% 0.00% 36.64% 31.25%
Consumer Cyclical 		10.47% 0.00% 24.04% 72.38%
Real Estate 		5.35% 0.00% 15.31% 20.16%
Financial Services 		5.02% 0.00% 42.95% 70.16%
Consumer Defense 		4.48% 0.00% 13.56% 37.10%
Communication Services 		3.86% 0.00% 15.31% 24.19%
Utilities 		0.00% 0.00% 4.68% 67.54%
Energy 		0.00% 0.00% 55.49% 89.11%
Basic Materials 		0.00% 0.00% 9.24% 93.55%

Stock Geographic Breakdown

Weighting Return Low Return High BDFIX % Rank
US 		92.61% 8.03% 107.71% 92.34%
Non US 		0.00% 0.00% 86.99% 63.10%

BDFIX - Expenses

Operational Fees

BDFIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.05% 0.05% 7.92% 63.91%
Management Fee 1.00% 0.04% 1.62% 90.91%
12b-1 Fee 0.00% 0.00% 1.00% 10.61%
Administrative Fee N/A 0.01% 0.40% N/A

Sales Fees

BDFIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

BDFIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

BDFIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 36.52% 3.00% 264.00% 31.72%

BDFIX - Distributions

Dividend Yield Analysis

BDFIX Category Low Category High BDFIX % Rank
Dividend Yield 0.00% 0.00% 6.91% 61.90%

Dividend Distribution Analysis

BDFIX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Annual Annual

Net Income Ratio Analysis

BDFIX Category Low Category High BDFIX % Rank
Net Income Ratio -0.94% -2.47% 1.10% 69.59%

Capital Gain Distribution Analysis

BDFIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Semi-Annually Annually Annually Annually

Distributions History

View More +

BDFIX - Fund Manager Analysis

Managers

Laird Bieger

Start Date

Tenure

Tenure Rank

Sep 30, 2013

8.67

8.7%

Vice President, Portfolio Manager Laird joined Baron in 2000 as a research analyst and was named portfolio manager in 2013. He has 19 years of research experience. From 1999 to 2000, Laird worked at Water Street Capital as a research analyst. From 1992 to 1997, Laird worked at Ford Motor Company in various roles. Laird graduated from Vanderbilt University with a B.A. in Economics in 1992 and from Columbia Business School with an M.B.A. in 1999.

Randolph Gwirtzman

Start Date

Tenure

Tenure Rank

Sep 30, 2013

8.67

8.7%

Vice President, Portfolio Manager Randy joined Baron in 2002 as a research analyst and was named portfolio manager in 2013. He has 19 years of research experience. From 1997 to 2002, Randy was a research analyst at three firms; first at Tyndall Partners, then Goldman Sachs Asset Management and finally at ING Furman Selz.From 1992 to 1997, Randy worked at Salomon Green & Ostrow as a bankruptcy litigation attorney. Randy graduated from the University of Pennsylvania with a B.A. in Economics in 1989, cum laude from the Benjamin N. Cardozo School of Law with a J.D. in 1992 and from Columbia Business School with an M.B.A. in 1999.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 30.44 9.14 5.25

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