BDFIX: Baron Discovery Institutional

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BDFIX Baron Discovery Institutional

  • Fund
  • BDFIX
  • Price as of: Oct 15, 2019
  • $19.79 + $0.23 + 1.18%

BDFIX - Profile

Vitals

  • YTD Return 15.8%
  • 3 Yr Annualized Return 16.3%
  • 5 Yr Annualized Return 13.2%
  • Net Assets $540 M
  • Holdings in Top 10 29.5%

52 WEEK LOW AND HIGH

$19.79
$15.87
$21.81

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.12%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 72.25%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000,000

IRA

$1,000,000

Fund Classification

PRIMARY CATEGORY

  • Fund Type Open End Mutual Fund
  • Investment Style Small Growth

Distributions

  • YTD Total Return 15.8%
  • 3 Yr Annualized Total Return 16.3%
  • 5 Yr Annualized Total Return 13.2%
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio 0.05%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name Baron Discovery Fund
  • Fund Family Name Baron Capital Group
  • Inception Date Sep 30, 2013
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Laird Bieger

Fund Description

The fund invests primarily in equity securities in the form of common stock of U.S. small-sized growth companies. The Adviser seeks to invest in businesses it believes have significant opportunities for growth, sustainable competitive advantages, exceptional management, and an attractive valuation.

BDFIX - Performance

Return Ranking - Trailing

Period BDFIX Return Category Return Low Category Return High Rank in Category (%)
YTD 15.8% -20.3% 420.0% 60.78%
1 Yr -11.7% -62.4% 420.0% 48.95%
3 Yr 16.3%* -45.3% 73.3% 4.95%
5 Yr 13.2%* -30.0% 39.1% 3.48%
10 Yr N/A* -14.3% 16.1% N/A

* Annualized


Return Ranking - Calendar

Period BDFIX Return Category Return Low Category Return High Rank in Category (%)
2018 -6.6% -67.3% 18.6% 7.59%
2017 35.6% -73.6% 36.1% 1.13%
2016 18.9% -54.1% 133.1% 5.99%
2015 -14.5% -70.7% 8.6% 72.54%
2014 13.8% -43.5% 76.2% 1.35%

Total Return Ranking - Trailing

Period BDFIX Return Category Return Low Category Return High Rank in Category (%)
YTD 15.8% -20.3% 420.0% 60.78%
1 Yr -11.7% -62.4% 420.0% 56.73%
3 Yr 16.3%* -27.9% 73.3% 12.09%
5 Yr 13.2%* -13.5% 39.1% 6.54%
10 Yr N/A* -4.2% 26.8% N/A

* Annualized


Total Return Ranking - Calendar

Period BDFIX Return Category Return Low Category Return High Rank in Category (%)
2018 -6.6% -67.1% 18.6% 26.14%
2017 35.8% -5.9% 42.0% 2.44%
2016 21.8% -16.4% 133.1% 4.19%
2015 -14.5% -59.6% 19.3% 87.42%
2014 13.8% -43.5% 76.2% 1.35%

NAV & Total Return History

BDFIX - Holdings

Concentration Analysis

BDFIX Category Low Category High BDFIX % Rank
Net Assets 540 M 5.44 M 23.8 B 51.20%
Number of Holdings 67 28 2017 84.21%
Net Assets in Top 10 159 M 492 K 2.54 B 38.44%
Weighting of Top 10 29.48% 5.3% 64.8% 13.56%

Top 10 Holdings

  1. Kinsale Capital Group Inc 3.81%

  2. Mercury Systems Inc 3.47%

  3. RIB Software SE 3.11%

  4. Americold Realty Trust 3.10%

  5. Floor & Decor Holdings Inc 3.08%

  6. Emergent BioSolutions Inc 2.81%

  7. SiteOne Landscape Supply Inc 2.75%

  8. TPI Composites Inc 2.46%

  9. Rexford Industrial Realty Inc 2.45%

  10. TherapeuticsMD Inc 2.45%


Asset Allocation

Weighting Return Low Return High BDFIX % Rank
Stocks
92.27% 86.31% 101.12% 95.69%
Cash
7.73% -2.03% 22.31% 3.03%
Preferred Stocks
0.00% 0.00% 2.39% 68.42%
Other
0.00% -18.74% 7.37% 72.25%
Convertible Bonds
0.00% 0.00% 0.02% 66.51%
Bonds
0.00% 0.00% 3.89% 68.26%

Stock Sector Breakdown

Weighting Return Low Return High BDFIX % Rank
Technology
29.17% 2.71% 74.36% 25.20%
Healthcare
23.25% 0.88% 44.97% 34.77%
Industrials
15.10% 1.78% 34.57% 67.46%
Consumer Cyclical
10.51% 0.00% 31.04% 81.34%
Real Estate
6.64% 0.00% 12.61% 11.32%
Financial Services
3.81% -0.71% 22.83% 82.93%
Basic Materials
2.36% 0.00% 12.23% 74.48%
Consumer Defense
1.08% 0.00% 15.42% 95.85%
Utilities
0.00% 0.00% 6.90% 77.67%
Energy
0.00% 0.00% 10.44% 93.94%
Communication Services
0.00% 0.00% 7.18% 83.57%

Stock Geographic Breakdown

Weighting Return Low Return High BDFIX % Rank
US
82.32% 81.71% 101.12% 99.68%
Non US
9.95% 0.00% 15.55% 2.39%

BDFIX - Expenses

Operational Fees

BDFIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.12% 0.06% 5.19% 61.40%
Management Fee 1.00% 0.05% 1.59% 89.00%
12b-1 Fee 0.00% 0.00% 1.00% 18.53%
Administrative Fee N/A 0.00% 0.40% N/A

Sales Fees

BDFIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 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

Turnover 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 72.25% 6.00% 474.00% 55.52%

BDFIX - Distributions

Dividend Yield Analysis

BDFIX Category Low Category High BDFIX % Rank
Dividend Yield 0.00% 0.00% 0.94% 70.18%

Dividend Distribution Analysis

BDFIX Category Low Category High Category Mode
Dividend Distribution Frequency Annually Annually Annually Annually

Dividend Payout History


Net Income Ratio Analysis

BDFIX Category Low Category High BDFIX % Rank
Net Income Ratio 0.05% -2.40% 0.96% 11.56%

Capital Gain Distribution Analysis

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

BDFIX - Managers

Laird Bieger

Manager

Start Date

Tenure

Tenure Rank

Sep 30, 2013

6.0

6.0%

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

Manager

Start Date

Tenure

Tenure Rank

Sep 30, 2013

6.0

6.0%

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

0.08

Category High

28.17

Category Average

7.55

Category Mode

2.58