Baron Generational Growth Fund
BARON INVESTMENT FUNDS TRUST (f/k/a BARON ASSET FUND) · 3 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Baron Generational Growth Fund is an actively managed U.S. equity fund. 14% of BGRFX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 82% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
Fund profile
As filed in the prospectus · 2026 Q1
The investment goal of Baron Growth Fund (the Fund) is capital appreciation through long-term investments primarily in securities of small-sized growth companies.
The fund invests primarily in equity securities of U.S. small-sized growth companies, defined as those with market capitalizations up to the largest Russell 2000 Growth Index constituent or $2.5 billion, whichever is larger, selected for significant growth opportunities, sustainable competitive advantages, exceptional management, and attractive valuation. Because the fund takes a long-term approach, a substantial portion of its assets may be invested in securities that have appreciated well beyond their original market capitalizations at purchase.
| Share class | Expense ratio |
|---|---|
| BGRFX | 1.60% |
| BGRIX | 1.34% |
| BGRUX | 1.34% |
Portfolio turnover 1.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 119.73% |
These positions come to 119.73% 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%.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Financials | 61.3% |
| Consumer Discretionary | 25.8% |
| Information Technology | 8.8% |
| Health Care | 4.1% |
| Other | 0.0% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Portfolio growth profile
How much of the fund’s stock holdings are in fast-growing companies · as of 2026 Q2
Share of the fund’s equity (by value) in companies whose trailing five-year revenue — or net-income — growth ranks in the top 25% of U.S. public companies. Foreign and newly-listed holdings are excluded, so the figure covers only part of the book. From SEC filings — not investment advice. How we measure this.
Latest quarter
What changed since the fund's previous filing
Exited: CSGP, NORTHVOLT AB
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| -16.86% | -16.41% | -21.99% | 11.56% | -28.98% | |
| -16.64% | -15.78% | -21.01% | 11.56% | -28.74% | |
| -16.64% | -15.77% | -21.00% | 11.57% | -28.75% |
These classes hold the same portfolio, so the 0.98pp spread over 5 years is the cost difference between them — roughly 0.20pp a year — not a difference in what they own.
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.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| — | Arch Capital Group Ltd | 21.80% | $97.06 | $459.14M | 4.7M |
| MSCI | MSCI IncMSCI | 19.46% | $560.04 | $409.94M | 732.0K |
| KNSL | Kinsale Capital Group IncKNSL | 13.53% | $329.81 | $284.92M | 863.9K |
| CHH | Choice Hotels International IncCHH | 13.38% | $110.27 | $281.81M | 2.6M |
| RRR | Red Rock Resorts IncRRR | 7.25% | $65.06 | $152.75M | 2.3M |
| FDS | FactSet Research Systems IncFDS | 6.53% | $230.08 | $137.61M | 598.1K |
| PRI | Primerica IncPRI | 6.12% | $284.20 | $128.81M | 453.2K |
| IT | Gartner IncIT | 6.11% | $129.62 | $128.71M | 992.9K |
| FIGS | Figs IncFIGS | 6.01% | $10.23 | $126.53M | 12.4M |
| IDXX | IDEXX Laboratories IncIDXX | 4.91% | $526.44 | $103.45M | 196.5K |
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.
Top 10 positions are 105.09% of net assets, top 25 119.73%, across 15 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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