BARON SMALL CAP 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 SMALL CAP FUND is an actively managed U.S. equity fund. 46% of BSCFX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 83% 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 Q2
The investment goal of Baron Small Cap Fund (the Fund) is capital appreciation through investments primarily in securities of small-sized growth companies.
The fund invests at least 80% of assets in equity securities of U.S. small-cap growth companies, defined as those with market capitalizations up to the largest cap in the Russell 2000 Growth Index or the bottom 25% of the U.S. equity market, whichever is larger. The adviser selects securities based on its assessment of growth opportunity, competitive advantage, management quality, and valuation rather than index tracking. The fund may hold up to 20% of assets in securities that have appreciated beyond their original market-cap thresholds.
| Share class | Expense ratio | As of |
|---|---|---|
| BSCFX | 1.32% | 2026 Q1 |
| BSFIX | 1.06% | 2026 Q1 |
| BSCUX | 1.06% | 2026 Q1 |
Portfolio turnover 13.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 98.77% |
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Industrials | 33.9% |
| Consumer Discretionary | 20.0% |
| Information Technology | 15.1% |
| Financials | 10.4% |
| 7 smaller | 20.5% |
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
New: BXDC, AADX, SHAK, WING, CWST
Exited: FND, Accelerant Holdings, PAR
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 |
|---|---|---|---|---|---|
| +6.93% | +26.15% | -1.05% | 13.02% | -17.81% | |
| +7.20% | +27.10% | +0.24% | 13.00% | -17.71% | |
| +7.24% | +27.11% | +0.24% | 13.02% | -17.71% |
These classes hold the same portfolio, so the 1.29pp spread over 5 years is the cost difference between them — roughly 0.26pp 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 |
|---|---|---|---|---|---|
| VRT | Vertiv Holdings CoVRT | 7.64% | $334.82 | $217.63M | 650.0K |
| RRR | Red Rock Resorts IncRRR | 5.08% | $65.06 | $144.76M | 2.2M |
| KNSL | Kinsale Capital Group IncKNSL | 4.05% | $329.81 | $115.43M | 350.0K |
| SITE | SiteOne Landscape Supply IncSITE | 3.69% | $114.41 | $105.20M | 919.5K |
| JBTM | JBT Marel CorpJBTM | 3.36% | $145.00 | $95.70M | 660.0K |
| TDG | TransDigm Group IncTDG | 3.27% | $1,332.04 | $93.24M | 70.0K |
| CGNX | Cognex CorpCGNX | 3.18% | $72.42 | $90.53M | 1.3M |
| GWRE | Guidewire Software IncGWRE | 3.02% | $123.05 | $86.14M | 700.0K |
| — | Liberty Media Corp-Liberty Formula One | 2.67% | $95.14 | $76.11M | 800.0K |
| BWIN | The Baldwin Insurance Group IncBWIN | 2.52% | $26.58 | $71.77M | 2.7M |
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 38.50% of net assets, top 25 70.84%, across 55 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.
Sign in free