Baron Funds Portfolio
Baron Funds 13F filer (CIK 0001017918).
Q2 2023 · 335 positions · Total reported value $35.98B · Top-10 concentration 43.8%
Turnover: 60.5% · 49 new · 144 cut · 34 exited
Active Share (vs S&P 500): 87.8% · vs QQQ: 89.6% — share of the book that differs from index weights (higher = more active) · ranking
In its Q2 2023 13F filing, Baron Funds disclosed 335 equity positions with a combined reported value of $35.98B. The filing implies a moderately concentrated portfolio: its ten largest positions account for 43.8% of reported value. HoldingsHub classifies the profile as Large / High Turnover.
The largest disclosed positions as of Q2 2023 were TSLA ($4.63B), CSGP ($1.70B), IT ($1.65B). By sector, the heaviest allocations are Consumer Discretionary 28.1%, Financials 18.7%. Versus the prior quarter, allocation shifted toward Industrials (+1.4pp), Financials (+1.0pp) and away from Other (-0.7pp), Consumer Discretionary (-1.0pp).
Versus the prior quarter, Baron Funds opened 49 new positions, trimmed 144 and fully exited 34, a turnover rate of 60.5% of positions. The portfolio's overlap with the prior quarter was 90% of names.
Figures come from the fund's SEC Form 13F filing. 13F reports are filed within 45 days of quarter end and cover long positions of $100,000 or more; they exclude short positions and non-13F asset classes, so treat this page as a quarter-end snapshot rather than the fund's live book.
Sector Allocation
| # | Symbol | Company | Shares | Value | Weight | Change |
|---|---|---|---|---|---|---|
| 1 | TSLA | TESLA INC | 17.70M | $4.63B | 12.88% | Add |
| 2 | CSGP | COSTAR GROUP INC | 19.11M | $1.70B | 4.73% | Add |
| 3 | IT | GARTNER INC | 4.72M | $1.65B | 4.60% | Reduce |
| 4 | ACGL | ARCH CAP GROUP LTD | 21.30M | $1.59B | 4.43% | Hold |
| 5 | IDXX | IDEXX LABS INC | 2.38M | $1.19B | 3.32% | Add |
| 6 | MTN | VAIL RESORTS INC | 4.67M | $1.18B | 3.27% | Add |
| 7 | FDS | FACTSET RESH SYS INC | 2.74M | $1.10B | 3.06% | Add |
| 8 | MSCI | MSCI INC | 2.24M | $1.05B | 2.93% | Add |
| 9 | IRDM | IRIDIUM COMMUNICATIONS INC | 14.52M | $902.26M | 2.51% | Add |
| 10 | KNSL | KINSALE CAP GROUP INC | 2.06M | $769.36M | 2.14% | Reduce |
| 11 | ANSS | ANSYS INC | 1.99M | $657.55M | 1.83% | Add |
| 12 | H | HYATT HOTELS CORP | 5.32M | $609.96M | 1.70% | Add |
| 13 | CHH | CHOICE HOTELS INTL INC | 4.63M | $543.69M | 1.51% | Add |
| 14 | GWRE | GUIDEWIRE SOFTWARE INC | 6.20M | $471.85M | 1.31% | Add |
| 15 | SCHW | SCHWAB CHARLES CORP | 8.06M | $456.83M | 1.27% | Add |
| 16 | TECH | BIO-TECHNE CORP | 5.38M | $439.21M | 1.22% | Hold |
| 17 | MTD | METTLER TOLEDO INTERNATIONAL | 334.85K | $439.20M | 1.22% | Hold |
| 18 | RRR | RED ROCK RESORTS INC | 8.89M | $416.07M | 1.16% | Add |
| 19 | GLPI | GAMING & LEISURE P | 8.42M | $408.26M | 1.14% | Reduce |
| 20 | WST | WEST PHARMACEUTICAL SVSC INC | 1.06M | $405.63M | 1.13% | Hold |
| 21 | PRI | PRIMERICA INC | 1.95M | $384.98M | 1.07% | Hold |
| 22 | TSM | TAIWAN SEMICONDUCTOR MANUFAC | 3.64M | $367.70M | 1.02% | Reduce |
| 23 | VAC | MARRIOTT VACATIONS WORLDWIDE | 2.85M | $350.36M | 0.97% | Add |
| 24 | VRSK | VERISK ANALYTICS INC | 1.34M | $303.96M | 0.84% | Add |
| 25 | FND | FLOOR & DECOR HLDGS INC | 2.46M | $255.65M | 0.71% | Reduce |
| 26 | ICLR | ICON PLC | 987.76K | $247.14M | 0.69% | Hold |
| 27 | SITE | SITEONE LANDSCAPE SUPPLY INC | 1.45M | $242.79M | 0.68% | Reduce |
| 28 | MORN | MORNINGSTAR INC | 1.23M | $240.86M | 0.67% | Add |
| 29 | DAY | DAYFORCE INC | 3.51M | $235.17M | 0.65% | Add |
| 30 | NVDA | NVIDIA CORPORATION | 546.23K | $231.06M | 0.64% | Add |
| 31 | BABA | ALIBABA GROUP HLDG LTD | 2.71M | $225.89M | 0.63% | Add |
| 32 | BFAM | BRIGHT HORIZONS FAM SOL IN D | 2.22M | $204.82M | 0.57% | Reduce |
| 33 | FIGS | FIGS INC | 23.56M | $194.86M | 0.54% | Add |
| 34 | VRT | VERTIV HOLDINGS CO | 7.65M | $189.49M | 0.53% | Hold |
| 35 | TREX | TREX INC | 2.87M | $188.05M | 0.52% | Add |
| 36 | DXCM | DEXCOM INC | 1.43M | $183.38M | 0.51% | Reduce |
| 37 | PENN | PENN ENTERTAINMENT INC | 7.44M | $178.72M | 0.50% | Reduce |
| 38 | GTLS | CHART INDS INC | 1.05M | $167.77M | 0.47% | Add |
| 39 | ASGN | EVERFORTH INC | 2.21M | $167.15M | 0.47% | Add |
| 40 | MSFT | MICROSOFT CORP | 478.67K | $163.01M | 0.45% | Reduce |
| 41 | EQIX | EQUINIX INC | 200.64K | $157.29M | 0.44% | Add |
| 42 | BYD | BOYD GAMING CORP | 2.10M | $145.39M | 0.40% | Reduce |
| 43 | TTD | THE TRADE DESK INC | 1.86M | $143.75M | 0.40% | Add |
| 44 | CNS | COHEN & STEERS INC | 2.47M | $143.35M | 0.40% | Reduce |
| 45 | IBP | INSTALLED BLDG PRODS INC | 1.01M | $141.67M | 0.39% | Add |
| 46 | TOL | TOLL BROTHERS INC | 1.77M | $140.15M | 0.39% | Add |
| 47 | VRSN | VERISIGN INC | 614.95K | $138.96M | 0.39% | Reduce |
| 48 | ROP | ROPER TECHNOLOGIES INC | 283.61K | $136.36M | 0.38% | Hold |
| 49 | FICO | FAIR ISAAC CORP | 167.38K | $135.45M | 0.38% | Hold |
| 50 | DAVA | ENDAVA PLC | 2.61M | $134.97M | 0.38% | Add |