Baron Partners Fund
BARON SELECT FUNDS · Series S000000588 · 3 share classes
data updated 2026-09-08
Fund profile
As filed in the prospectus · 2026 Q2
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.
| Share class | Expense ratio |
|---|---|
| BPTRX | 1.91% |
| BPTIX | 1.65% |
| BPTUX | 1.65% |
Portfolio turnover 5.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| 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%.
Latest quarter
What changed since the fund's previous filing
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 |
|---|---|---|---|---|---|
| +41.55% | +97.58% | +61.80% | 25.78% | -19.26% | |
| +41.92% | +99.11% | +63.94% | 25.78% | -19.22% | |
| +41.92% | +99.07% | +63.84% | 25.78% | -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.
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 |
|---|---|---|---|---|---|
| SPCX | Space Exploration Technologies CorpSPCX | 34.96% | $170.86 | $6.31B | 36.9M |
| TSLA | Tesla IncTSLA | 15.04% | $420.60 | $2.71B | 6.5M |
| H | Hyatt Hotels CorpH | 4.30% | $193.84 | $775.68M | 4.0M |
| SCHW | The Charles Schwab CorpSCHW | 4.26% | $92.27 | $768.77M | 8.3M |
| MSCI | MSCI IncMSCI | 4.18% | $560.04 | $755.14M | 1.3M |
| SHOP | Shopify IncSHOP | 3.96% | $114.18 | $714.27M | 6.3M |
| — | Arch Capital Group Ltd | 3.49% | $97.06 | $630.11M | 6.5M |
| — | Spotify Technology SA | 3.26% | $459.13 | $588.10M | 1.3M |
| FDS | FactSet Research Systems IncFDS | 2.74% | $230.08 | $494.45M | 2.1M |
| IT | Gartner IncIT | 2.64% | $129.62 | $476.94M | 3.7M |
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 78.83% of net assets, top 25 105.27%, across 29 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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