Baron Partners Fund
Actively managed U.S. stock fund
The investment goal of Baron Partners Fund (the Fund) is capital appreciation.
The fund is a non-diversified fund that invests primarily in equity securities of U.S. growth companies across all market capitalizations, selecting businesses the adviser believes offer significant growth opportunities, sustainable competitive advantages, exceptional management, and attractive valuations. The fund may borrow up to one-third of its total assets to leverage its investments. Because the fund is non-diversified, it may hold a small number of issuers, which concentrates its returns in those holdings.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
34.96% | $6.31B | 36.9M | $170.86 | |
TSLATesla Inc | 15.04% | $2.71B | 6.5M | $420.60 |
4.30% | $775.68M | 4.0M | $193.84 | |
4.26% | $768.77M | 8.3M | $92.27 | |
MSCIMSCI Inc | 4.18% | $755.14M | 1.3M | $560.04 |
SHOPShopify Inc | 3.96% | $714.27M | 6.3M | $114.18 |
Arch Capital Group Ltd | 3.49% | $630.11M | 6.5M | $97.06 |
Spotify Technology SA | 3.26% | $588.10M | 1.3M | $459.13 |
2.74% | $494.45M | 2.1M | $230.08 | |
2.64% | $476.94M | 3.7M | $129.62 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
All 31 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 106.66% |
| Cash & short-term | 0.22% |
These positions come to 106.88% of the fund's net assets. This counts only what the fund reported holding — the holdings disclosure covers assets, not liabilities such as borrowings — so it is not expected to reconcile to 100%.
By sector
- Information Technology
- 41.6%
- Consumer Discretionary
- 25.3%
- Financials
- 17.0%
- International
- 6.5%
- 5 other sectors
- 9.6%
- Information Technology
- 41.6%
- Consumer Discretionary
- 25.3%
- Financials
- 17.0%
- International
- 6.5%
- Health Care
- 3.3%
- Industrials
- 2.8%
- Real Estate
- 2.7%
- Communication Services
- 0.6%
- Cash
- 0.2%
How it has done
BPTRX share class · total returns with dividends reinvested
Volatility over the last 12 months: 25.78%. Past returns are a record, not a forecast.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 3 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 1.91% | +41.55% | +97.58% | +61.80% | -19.26% | |
| 1.65% | +41.92% | +99.11% | +63.94% | -19.22% | |
| 1.65% | +41.92% | +99.07% | +63.84% | -19.22% |
These classes hold the same portfolio, so the 2.15pp spread over 5 years is the cost difference between them — roughly 0.43pp a year — not a difference in what they own.
Fees & fund details
Baron Partners Fund is an actively managed U.S. equity fund.
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Features
- Non-diversified
- Expense ratio, by class
- 1.65% – 1.91%· BPTRX 1.91%
- Portfolio turnover
- 5.00% a year · as of 2026 Q2
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
7 new
3 exited
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