Investor Summary

Baron Growth Fund is co-managed by Neal Rosenberg and Ronald Baron, combining decades of investment experience and research expertise. Neal Rosenberg serves as Vice President and Co-Portfolio Manager since 2016, bringing 13+ years of research experience after joining BAMCO in 2006, with an MBA from the University of Pennsylvania's Wharton School specializing in Accounting and Finance. Ronald Baron, the firm's founder and CEO, has managed the fund since its inception in 1994 and brings over 52 years of research experience, having founded Baron Capital in 1982 with $100,000 and three employees and growing it into a global investment management firm with $45.0 billion in total assets under management. The management team's patient, conviction-based approach is reflected in the fund's very low portfolio turnover of 1% and high active share of 99.3%.

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Fund Strategy

Baron Growth Fund has remained laser-focused on investing in high-quality small-cap businesses with stable growth prospects, durable competitive advantages, and exceptional management teams for thirty years. The fund employs Baron Capital's disciplined investment process which includes idea generation primarily by portfolio managers and analysts, thorough research aimed at identifying above-average long-term returns, bottom-up portfolio construction based on conviction in future growth, and a strong risk management culture focused on avoiding permanent capital loss. The fund invests primarily in securities of small-sized growth companies seeking capital appreciation through long-term investments, with small-sized companies defined as those with market capitalizations up to the largest stock in the Russell 2000 Growth Index at reconstitution, or up to $2.5 billion.

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FUND PERFORMANCE AS OF 31st December 2025

ANNUALIZED SINCE INCEPTION QUARTERLY YTD
11.62% -2.8% -14.4%