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Ron Baron

Baron Capital

Baron Capital, Ron Baron's founder-led growth and long holding periods

Baron Capital is a useful case study in founder-led growth investing. Ron Baron's public letters and conference comments often explain why the firm holds businesses for many years while focusing on management, market opportunity, and reinvestment.

Sources Baron Capital official site SEC EDGAR profile
Growth / founder-led companies CIK 1017918
2026-03-31 Latest 13F 20 Current holdings 343 Last 2 periods Change 2 Public materials
Latest 13F snapshot 2026-03-31 · 326 disclosed positions · $33.1B Top five 28.4%: TSLA, ACGL, MSCI, GWRE, IT

Performance materials

  • Baron publishes fund reports and performance materials. Official fund materials are the performance source.

Firm and key people

  • Baron founded Baron Capital and built a reputation around long-term growth investing.
  • The firm frequently emphasizes founder-led companies, large addressable markets, and management quality.
  • Public materials provide detailed case studies for many long-held positions.

Investment style

  • Prefer companies with strong leaders, long runways, and the ability to reinvest.
  • Holding period is part of the edge when business value compounds over many years.
  • Valuation should be read against long-term earnings power and market opportunity.

Public materials

View timeline
Shareholder letters / memos 1
Interview 0
Public video 1
Public Q&A / speeches / presentations 0

Current holdings

13F period 2026-03-31 · Filed 2026-05-15
Stocks Shares Value Weight
TSLA 11,933,509 $4.4B 13.4%
ACGL 16,709,759 $1.6B 4.8%
MSCI 2,699,389 $1.5B 4.4%
GWRE 6,597,453 $986.7M 3.0%
IT 5,917,616 $937.0M 2.8%
IDXX 1,633,367 $917.8M 2.8%
H 6,341,673 $911.9M 2.8%
FIGS 59,959,449 $885.6M 2.7%
FDS 3,756,587 $815.1M 2.5%
CHH 7,690,494 $796.0M 2.4%
RRR 13,412,846 $715.7M 2.2%
SCHW 7,464,316 $701.5M 2.1%
KNSL 2,027,765 $692.8M 2.1%
CSGP 16,314,175 $658.1M 2.0%
MTN 5,043,533 $647.2M 2.0%
SPOT 1,319,525 $639.9M 1.9%
SHOP 4,718,230 $559.7M 1.7%
NVDA 2,919,758 $509.2M 1.5%
VRSK 2,511,976 $476.6M 1.4%
BIRK 9,366,068 $335.6M 1.0%

Last 2 quarters US 13F new / increased / reduced / sold-out positions

As of 13F 2026-03-31 · Filed 2026-05-15
Last 1 quarters Last 2 quarters Last 3 quarters Last 4 quarters
Stocks Action 13F period Current shares Previous shares Share change 13F value change
TSLA Minor increase 2026-03-31 Filed 2026-05-15 11,933,509 11,927,475 0.1% -$927.7M
CSGP Major reduction 2026-03-31 Filed 2026-05-15 16,314,175 19,498,099 -16.3% -$652.9M
IDXX Minor reduction 2026-03-31 Filed 2026-05-15 1,633,367 1,798,041 -9.2% -$298.7M
SHOP Major increase 2026-03-31 Filed 2026-05-15 4,718,230 2,288,270 106.2% +$191.3M
VRSK Major increase 2026-03-31 Filed 2026-05-15 2,511,976 1,302,611 92.8% +$185.3M
CWAN Major reduction 2026-03-31 Filed 2026-05-15 154,864 7,816,447 -98.0% -$184.9M
MORN Major reduction 2026-03-31 Filed 2026-05-15 759,515 1,241,794 -38.8% -$141.5M
MSFT Major reduction 2026-03-31 Filed 2026-05-15 73,753 341,758 -78.4% -$138.0M
FPS New 2026-03-31 Filed 2026-05-15 4,674,583 0 - +$136.8M
EQIX Major increase 2026-03-31 Filed 2026-05-15 243,975 145,429 67.8% +$127.7M
MSCI Minor reduction 2026-03-31 Filed 2026-05-15 2,699,389 2,755,747 -2.0% -$126.1M
IT Major increase 2026-03-31 Filed 2026-05-15 5,917,616 4,212,957 40.5% -$125.8M
ACGL Minor reduction 2026-03-31 Filed 2026-05-15 16,709,759 17,987,505 -7.1% -$121.4M
JLL Major reduction 2026-03-31 Filed 2026-05-15 241,208 564,297 -57.3% -$116.5M
INTA Major reduction 2026-03-31 Filed 2026-05-15 2,144,270 3,327,989 -35.6% -$97.4M
EXK Sold out 2026-03-31 Filed 2026-05-15 0 954,547 -100.0% -$96.9M
CHH Minor increase 2026-03-31 Filed 2026-05-15 7,690,494 7,386,575 4.1% +$92.3M
ONON Major increase 2026-03-31 Filed 2026-05-15 9,714,605 5,405,486 79.7% +$79.2M
BX Major reduction 2026-03-31 Filed 2026-05-15 94,599 580,010 -83.7% -$78.5M
BABA Major reduction 2026-03-31 Filed 2026-05-15 635,540 1,071,647 -40.7% -$77.3M
PRI Major reduction 2026-03-31 Filed 2026-05-15 860,026 1,132,544 -24.1% -$77.2M
CBRE Major reduction 2026-03-31 Filed 2026-05-15 1,074,451 1,359,332 -21.0% -$73.0M
PSA New 2026-03-31 Filed 2026-05-15 266,847 0 - +$72.3M
DKNG Minor reduction 2026-03-31 Filed 2026-05-15 4,218,766 4,674,455 -9.7% -$69.9M
H Minor increase 2026-03-31 Filed 2026-05-15 6,341,673 6,106,485 3.9% -$67.1M
DLR Major increase 2026-03-31 Filed 2026-05-15 484,763 138,178 250.8% +$66.0M
FROG Major reduction 2026-03-31 Filed 2026-05-15 620,313 1,493,518 -58.5% -$64.2M
ABNB Major increase 2026-03-31 Filed 2026-05-15 1,441,221 880,076 63.8% +$62.6M
GOOGL Major increase 2026-03-31 Filed 2026-05-15 382,577 157,498 142.9% +$60.7M
SPOT Major increase 2026-03-31 Filed 2026-05-15 1,319,525 997,291 32.3% +$60.7M
RRR Minor increase 2026-03-31 Filed 2026-05-15 13,412,846 12,519,892 7.1% -$59.9M
IBP Major reduction 2026-03-31 Filed 2026-05-15 198,216 423,182 -53.2% -$57.2M
LPX Sold out 2026-03-31 Filed 2026-05-15 0 674,577 -100.0% -$54.5M
FICO Major reduction 2026-03-31 Filed 2026-05-15 57,929 68,651 -15.6% -$54.2M
IRM New 2026-03-31 Filed 2026-05-15 525,270 0 - +$53.7M
ODD Major reduction 2026-03-31 Filed 2026-05-15 62,630 1,353,715 -95.4% -$53.6M
GTLB Sold out 2026-03-31 Filed 2026-05-15 0 1,426,527 -100.0% -$53.5M
GDS Major increase 2026-03-31 Filed 2026-05-15 4,597,246 3,784,848 21.5% +$53.1M
MELI Major reduction 2026-03-31 Filed 2026-05-15 42,793 61,964 -30.9% -$50.8M
ICLR Major reduction 2026-03-31 Filed 2026-05-15 426,805 534,248 -20.1% -$50.1M
BN Major reduction 2026-03-31 Filed 2026-05-15 2,905,510 3,635,917 -20.1% -$49.3M
MASI Sold out 2026-03-31 Filed 2026-05-15 0 373,899 -100.0% -$48.6M
NVDA Minor reduction 2026-03-31 Filed 2026-05-15 2,919,758 2,988,943 -2.3% -$48.2M
GWRE Major increase 2026-03-31 Filed 2026-05-15 6,597,453 5,147,550 28.2% -$48.0M
CPNG Major reduction 2026-03-31 Filed 2026-05-15 2,809,513 4,274,350 -34.3% -$47.8M
TTAN Minor increase 2026-03-31 Filed 2026-05-15 1,114,416 1,096,931 1.6% -$46.1M
VRT Major reduction 2026-03-31 Filed 2026-05-15 1,181,144 1,545,572 -23.6% +$45.6M
BLLN Major increase 2026-03-31 Filed 2026-05-15 741,485 170,000 336.2% +$44.6M
CZR New 2026-03-31 Filed 2026-05-15 1,643,199 0 - +$43.4M
HLI Minor reduction 2026-03-31 Filed 2026-05-15 1,061,403 1,123,951 -5.6% -$43.3M
AMT Major reduction 2026-03-31 Filed 2026-05-15 23,709 267,813 -91.1% -$42.9M
TECH Major reduction 2026-03-31 Filed 2026-05-15 561,441 1,207,499 -53.5% -$41.7M
KTOS Major reduction 2026-03-31 Filed 2026-05-15 715,395 1,209,773 -40.9% -$41.4M
PWR Minor reduction 2026-03-31 Filed 2026-05-15 325,840 328,010 -0.7% +$40.5M
VIST New 2026-03-31 Filed 2026-05-15 530,237 0 - +$40.0M
FBIN Sold out 2026-03-31 Filed 2026-05-15 0 773,799 -100.0% -$38.7M
KRMN Major reduction 2026-03-31 Filed 2026-05-15 1,279,093 1,914,221 -33.2% -$37.7M
RBC Major reduction 2026-03-31 Filed 2026-05-15 181,481 303,110 -40.1% -$37.4M
MGM New 2026-03-31 Filed 2026-05-15 996,534 0 - +$36.9M
BBD New 2026-03-31 Filed 2026-05-15 10,083,509 0 - +$36.8M
PLNT Minor increase 2026-03-31 Filed 2026-05-15 1,200,064 1,150,028 4.4% -$35.5M
MTD Minor reduction 2026-03-31 Filed 2026-05-15 133,639 146,334 -8.7% -$35.5M
NPO Major increase 2026-03-31 Filed 2026-05-15 391,730 298,850 31.1% +$34.2M
BAM Major reduction 2026-03-31 Filed 2026-05-15 398,072 984,871 -59.6% -$33.9M
ALKT Major reduction 2026-03-31 Filed 2026-05-15 2,308,036 2,983,065 -22.6% -$32.7M
META Minor reduction 2026-03-31 Filed 2026-05-15 256,700 270,126 -5.0% -$31.4M
LVS Major reduction 2026-03-31 Filed 2026-05-15 1,226,430 1,497,892 -18.1% -$31.4M
XP Major increase 2026-03-31 Filed 2026-05-15 2,674,571 1,195,477 123.7% +$31.4M
TOL Major reduction 2026-03-31 Filed 2026-05-15 932,031 1,166,270 -20.1% -$30.5M
WYNN Major increase 2026-03-31 Filed 2026-05-15 1,736,856 1,219,590 42.4% +$29.6M
VEEV Major reduction 2026-03-31 Filed 2026-05-15 168,126 262,070 -35.8% -$29.0M
WELL Minor increase 2026-03-31 Filed 2026-05-15 1,344,941 1,277,492 5.3% +$28.8M
ARGX Minor reduction 2026-03-31 Filed 2026-05-15 138,648 153,719 -9.8% -$28.0M
STUB Major reduction 2026-03-31 Filed 2026-05-15 1,931,317 2,953,213 -34.6% -$27.9M
CRH Minor reduction 2026-03-31 Filed 2026-05-15 739,176 844,634 -12.5% -$27.7M
YMM Major reduction 2026-03-31 Filed 2026-05-15 4,184,358 5,772,623 -27.5% -$27.2M
IBKR Minor reduction 2026-03-31 Filed 2026-05-15 4,047,376 4,643,376 -12.8% -$27.2M
ROP Minor reduction 2026-03-31 Filed 2026-05-15 186,159 207,437 -10.3% -$26.5M
SKY Major reduction 2026-03-31 Filed 2026-05-15 469,822 725,542 -35.2% -$26.4M
JEF Major increase 2026-03-31 Filed 2026-05-15 1,530,228 596,528 156.5% +$26.2M
HTFL Major increase 2026-03-31 Filed 2026-05-15 3,827,531 2,303,877 66.1% +$26.0M
LPLA Major reduction 2026-03-31 Filed 2026-05-15 121,778 175,245 -30.5% -$26.0M
TRU Major reduction 2026-03-31 Filed 2026-05-15 641,179 813,353 -21.2% -$25.4M
PCOR Minor reduction 2026-03-31 Filed 2026-05-15 1,499,091 1,515,982 -1.1% -$24.8M
NVMI Major reduction 2026-03-31 Filed 2026-05-15 59,858 154,511 -61.3% -$24.7M
RGEN Minor increase 2026-03-31 Filed 2026-05-15 548,346 544,779 0.7% -$24.7M
AVGO Minor reduction 2026-03-31 Filed 2026-05-15 523,219 537,840 -2.7% -$24.2M
AEIS Minor reduction 2026-03-31 Filed 2026-05-15 268,725 299,141 -10.2% +$24.1M
SNOW Minor increase 2026-03-31 Filed 2026-05-15 398,468 381,878 4.3% -$23.7M
NCNO Minor reduction 2026-03-31 Filed 2026-05-15 2,050,073 2,102,737 -2.5% -$23.2M
FDS Major increase 2026-03-31 Filed 2026-05-15 3,756,587 2,888,845 30.0% -$23.2M
WST Major reduction 2026-03-31 Filed 2026-05-15 199,750 263,189 -24.1% -$22.3M
VMC Major reduction 2026-03-31 Filed 2026-05-15 153,819 225,132 -31.7% -$22.3M
TSM Minor increase 2026-03-31 Filed 2026-05-15 636,267 634,652 0.3% +$22.2M
EFOR Major reduction 2026-03-31 Filed 2026-05-15 1,060,800 1,310,800 -19.1% -$22.1M
COO Major reduction 2026-03-31 Filed 2026-05-15 454,864 664,491 -31.5% -$21.9M
APH Minor reduction 2026-03-31 Filed 2026-05-15 1,659,690 1,710,742 -3.0% -$21.5M
SITE Minor increase 2026-03-31 Filed 2026-05-15 2,059,076 2,028,366 1.5% +$21.4M
HEI.A Minor reduction 2026-03-31 Filed 2026-05-15 419,407 434,342 -3.4% -$21.1M
JBTM Minor reduction 2026-03-31 Filed 2026-05-15 660,040 700,040 -5.7% -$21.1M
ASML Major increase 2026-03-31 Filed 2026-05-15 35,625 24,431 45.8% +$20.9M
FWONK Minor reduction 2026-03-31 Filed 2026-05-15 800,000 900,000 -11.1% -$20.6M
NTSK Major increase 2026-03-31 Filed 2026-05-15 3,824,078 2,981,743 28.2% -$19.8M
TEM Major increase 2026-03-31 Filed 2026-05-15 899,278 355,446 153.0% +$19.7M
ROL Major reduction 2026-03-31 Filed 2026-05-15 998,020 1,208,539 -17.4% -$19.2M
WING Minor reduction 2026-03-31 Filed 2026-05-15 207,987 215,231 -3.4% -$19.1M
ZS Minor reduction 2026-03-31 Filed 2026-05-15 173,025 190,968 -9.4% -$18.7M
FND Minor reduction 2026-03-31 Filed 2026-05-15 1,273,764 1,354,401 -6.0% -$17.8M
PONY Major reduction 2026-03-31 Filed 2026-05-15 2,125,643 2,586,581 -17.8% -$17.4M
DRVN Minor reduction 2026-03-31 Filed 2026-05-15 4,500,196 5,000,261 -10.0% -$17.4M
CGNX Minor reduction 2026-03-31 Filed 2026-05-15 1,740,166 1,900,166 -8.4% +$16.9M
MAC Major increase 2026-03-31 Filed 2026-05-15 4,084,693 3,286,261 24.3% +$16.5M
IOT Major increase 2026-03-31 Filed 2026-05-15 5,119,835 4,120,031 24.3% +$16.2M
SPG Major reduction 2026-03-31 Filed 2026-05-15 166,058 252,790 -34.3% -$15.8M
FIG Major increase 2026-03-31 Filed 2026-05-15 2,052,204 750,000 173.6% +$15.4M
ESTA Minor increase 2026-03-31 Filed 2026-05-15 964,167 961,226 0.3% -$15.3M
DT Major increase 2026-03-31 Filed 2026-05-15 2,159,694 1,499,500 44.0% +$14.9M
LLY Minor reduction 2026-03-31 Filed 2026-05-15 85,066 86,476 -1.6% -$14.7M
EQR Major reduction 2026-03-31 Filed 2026-05-15 473,496 675,281 -29.9% -$14.6M
MRCY Major reduction 2026-03-31 Filed 2026-05-15 645,066 835,823 -22.8% -$14.0M
VRNS Minor increase 2026-03-31 Filed 2026-05-15 1,239,294 1,226,240 1.1% -$13.6M
NET Minor increase 2026-03-31 Filed 2026-05-15 457,324 409,604 11.7% +$13.6M
AAON Minor increase 2026-03-31 Filed 2026-05-15 844,377 738,016 14.4% +$13.6M
S Major reduction 2026-03-31 Filed 2026-05-15 1,908,204 2,536,596 -24.8% -$13.5M
CWST Major increase 2026-03-31 Filed 2026-05-15 718,461 446,242 61.0% +$13.3M
RKT Major increase 2026-03-31 Filed 2026-05-15 2,828,334 1,398,360 102.3% +$13.2M
AMZN Minor increase 2026-03-31 Filed 2026-05-15 1,294,654 1,225,159 5.7% -$13.2M
BWIN Minor reduction 2026-03-31 Filed 2026-05-15 2,710,068 3,010,428 -10.0% -$12.9M
VTR Major reduction 2026-03-31 Filed 2026-05-15 998,339 1,219,483 -18.1% -$12.7M
TDG Minor increase 2026-03-31 Filed 2026-05-15 78,664 77,799 1.1% -$12.3M
BFAM Minor increase 2026-03-31 Filed 2026-05-15 1,102,308 1,013,488 8.8% -$12.2M
SSNC Minor reduction 2026-03-31 Filed 2026-05-15 572,451 578,673 -1.1% -$11.9M
HEI Minor reduction 2026-03-31 Filed 2026-05-15 167,976 177,633 -5.4% -$11.4M
WAY Major increase 2026-03-31 Filed 2026-05-15 2,325,569 1,393,634 66.9% +$10.4M
AXON Minor increase 2026-03-31 Filed 2026-05-15 117,942 106,441 10.8% -$10.4M
ISRG Minor reduction 2026-03-31 Filed 2026-05-15 97,297 97,334 -0.0% -$10.3M
LGN Minor reduction 2026-03-31 Filed 2026-05-15 1,245,682 1,395,682 -10.7% +$10.3M
BIRK Major increase 2026-03-31 Filed 2026-05-15 9,366,068 7,966,037 17.6% +$9.8M
MPWR Minor reduction 2026-03-31 Filed 2026-05-15 62,994 65,227 -3.4% +$9.8M
CRWD Major increase 2026-03-31 Filed 2026-05-15 110,588 71,721 54.2% +$9.6M
LLYVK Minor reduction 2026-03-31 Filed 2026-05-15 1,525,473 1,613,666 -5.5% +$9.4M
LOAR Minor increase 2026-03-31 Filed 2026-05-15 2,366,299 2,119,505 11.6% -$8.6M
MTN Minor increase 2026-03-31 Filed 2026-05-15 5,043,533 4,809,928 4.9% +$8.4M
CAKE Major reduction 2026-03-31 Filed 2026-05-15 1,000,037 1,250,037 -20.0% -$8.3M
BXMT Major reduction 2026-03-31 Filed 2026-05-15 1,568,430 2,000,621 -21.6% -$8.2M
NEOG Minor reduction 2026-03-31 Filed 2026-05-15 5,009,659 5,509,659 -9.1% +$8.0M
V Minor increase 2026-03-31 Filed 2026-05-15 180,092 177,148 1.7% -$7.7M
STEP Minor increase 2026-03-31 Filed 2026-05-15 830,574 730,557 13.7% -$7.2M
SQM Minor reduction 2026-03-31 Filed 2026-05-15 560,774 562,105 -0.2% +$6.7M
HQY Minor reduction 2026-03-31 Filed 2026-05-15 750,025 756,025 -0.8% -$6.6M
BAP Major reduction 2026-03-31 Filed 2026-05-15 222,224 285,044 -22.0% -$6.4M
ONT Minor increase 2026-03-31 Filed 2026-05-15 2,168,183 2,160,599 0.4% -$6.2M
STVN Major increase 2026-03-31 Filed 2026-05-15 2,500,438 2,001,724 24.9% -$5.9M
MA Minor reduction 2026-03-31 Filed 2026-05-15 79,754 79,958 -0.3% -$5.8M
LYV Minor increase 2026-03-31 Filed 2026-05-15 296,628 277,801 6.8% +$5.7M
NU Minor increase 2026-03-31 Filed 2026-05-15 3,529,651 3,335,290 5.8% -$5.1M
BMI Minor increase 2026-03-31 Filed 2026-05-15 312,213 300,046 4.1% -$4.8M
LOW Minor reduction 2026-03-31 Filed 2026-05-15 206,788 221,833 -6.8% -$4.6M
PRMB Minor reduction 2026-03-31 Filed 2026-05-15 2,186,585 2,252,512 -2.9% +$4.3M
SCHW Minor increase 2026-03-31 Filed 2026-05-15 7,464,316 7,060,309 5.7% -$3.9M
KNSL Minor increase 2026-03-31 Filed 2026-05-15 2,027,765 1,781,201 13.8% -$3.9M
HLT Minor reduction 2026-03-31 Filed 2026-05-15 265,363 267,703 -0.9% +$3.8M
NOVT Minor reduction 2026-03-31 Filed 2026-05-15 915,083 936,962 -2.3% -$3.4M
GOOG Major increase 2026-03-31 Filed 2026-05-15 139,018 117,784 18.0% +$2.9M
HNGE Minor increase 2026-03-31 Filed 2026-05-15 1,130,053 999,570 13.1% -$2.9M
WMS Minor reduction 2026-03-31 Filed 2026-05-15 291,152 294,678 -1.2% -$2.8M
DDOG Major increase 2026-03-31 Filed 2026-05-15 587,382 490,582 19.7% +$2.6M
TW Minor reduction 2026-03-31 Filed 2026-05-15 367,448 381,337 -3.6% +$2.2M
CDNA Minor increase 2026-03-31 Filed 2026-05-15 3,336,409 3,155,180 5.7% -$1.5M
INDI Minor increase 2026-03-31 Filed 2026-05-15 23,337,826 21,705,742 7.5% -$1.5M
MSGS Major reduction 2026-03-31 Filed 2026-05-15 165,015 200,015 -17.5% +$1.3M
GLPI Minor reduction 2026-03-31 Filed 2026-05-15 1,846,273 1,858,796 -0.7% -$1.2M
SITM Minor increase 2026-03-31 Filed 2026-05-15 116,961 116,493 0.4% -$751,682
PLD Minor reduction 2026-03-31 Filed 2026-05-15 1,065,747 1,109,127 -3.9% -$720,715
TXRH Minor increase 2026-03-31 Filed 2026-05-15 315,698 314,886 0.3% -$136,708
BAH Minor increase 2026-03-31 Filed 2026-05-15 507,649 469,264 8.2% +$24,740
FDS Major increase 2025-12-31 Filed 2026-02-17 2,888,845 1,819,059 58.8% +$317.2M
CSGP Minor increase 2025-12-31 Filed 2026-02-17 19,498,099 19,255,566 1.3% -$313.5M
FIGS Minor increase 2025-12-31 Filed 2026-02-17 59,959,449 59,934,448 0.0% +$280.2M
MSCI Major increase 2025-12-31 Filed 2026-02-17 2,755,747 2,394,117 15.1% +$222.6M
MTN Major reduction 2025-12-31 Filed 2026-02-17 4,809,928 5,702,692 -15.7% -$214.2M
GLPI Major reduction 2025-12-31 Filed 2026-02-17 1,858,796 5,143,996 -63.9% -$156.7M
GWRE Minor reduction 2025-12-31 Filed 2026-02-17 5,147,550 5,168,851 -0.4% -$153.4M
LLYVK* Sold out 2025-12-31 Filed 2026-02-17 0 1,458,910 -100.0% -$141.5M
LLYVK New 2025-12-31 Filed 2026-02-17 1,613,666 0 - +$134.2M
CHH Major increase 2025-12-31 Filed 2026-02-17 7,386,575 5,359,896 37.8% +$130.6M
SPOT Minor increase 2025-12-31 Filed 2026-02-17 997,291 988,695 0.9% -$111.0M
H Minor reduction 2025-12-31 Filed 2026-02-17 6,106,485 6,116,673 -0.2% +$110.9M
CNS Major reduction 2025-12-31 Filed 2026-02-17 165,076 1,728,387 -90.4% -$103.0M
PRI Major reduction 2025-12-31 Filed 2026-02-17 1,132,544 1,408,241 -19.6% -$98.3M
KTOS Major reduction 2025-12-31 Filed 2026-02-17 1,209,773 1,932,889 -37.4% -$84.8M
VTR Major increase 2025-12-31 Filed 2026-02-17 1,219,483 170,525 615.1% +$82.4M
TREX Sold out 2025-12-31 Filed 2026-02-17 0 1,589,735 -100.0% -$82.1M
ITGR Sold out 2025-12-31 Filed 2026-02-17 0 766,055 -100.0% -$79.2M
DUOL Sold out 2025-12-31 Filed 2026-02-17 0 243,708 -100.0% -$78.4M
IT Minor reduction 2025-12-31 Filed 2026-02-17 4,212,957 4,322,113 -2.5% -$73.3M
TTD Major reduction 2025-12-31 Filed 2026-02-17 500,036 1,798,634 -72.2% -$69.2M
TECH Major reduction 2025-12-31 Filed 2026-02-17 1,207,499 2,496,323 -51.6% -$67.9M
KNSL Minor reduction 2025-12-31 Filed 2026-02-17 1,781,201 1,788,590 -0.4% -$64.0M
VRT Major reduction 2025-12-31 Filed 2026-02-17 1,545,572 2,070,643 -25.4% -$62.0M
SKY New 2025-12-31 Filed 2026-02-17 725,542 0 - +$61.3M
MORN Minor reduction 2025-12-31 Filed 2026-02-17 1,241,794 1,414,305 -12.2% -$58.3M
VNO Sold out 2025-12-31 Filed 2026-02-17 0 1,408,487 -100.0% -$57.1M
AMT Major reduction 2025-12-31 Filed 2026-02-17 267,813 534,053 -49.9% -$55.7M
MTD Major reduction 2025-12-31 Filed 2026-02-17 146,334 211,352 -30.8% -$55.4M
TSLA Minor reduction 2025-12-31 Filed 2026-02-17 11,927,475 11,947,614 -0.2% +$50.7M
ONON Minor increase 2025-12-31 Filed 2026-02-17 5,405,486 4,746,553 13.9% +$50.2M
CWAN Minor increase 2025-12-31 Filed 2026-02-17 7,816,447 7,675,038 1.8% +$50.2M
ABNB Major increase 2025-12-31 Filed 2026-02-17 880,076 578,540 52.1% +$49.2M
NOVT Major increase 2025-12-31 Filed 2026-02-17 936,962 627,093 49.4% +$48.7M
AMZN Minor increase 2025-12-31 Filed 2026-02-17 1,225,159 1,078,312 13.6% +$46.0M
WAY New 2025-12-31 Filed 2026-02-17 1,393,634 0 - +$45.6M
IRM Sold out 2025-12-31 Filed 2026-02-17 0 436,831 -100.0% -$44.5M
CWST New 2025-12-31 Filed 2026-02-17 446,242 0 - +$43.7M
PLD Major increase 2025-12-31 Filed 2026-02-17 1,109,127 891,522 24.4% +$39.5M
MRCY Major reduction 2025-12-31 Filed 2026-02-17 835,823 1,295,284 -35.5% -$39.2M
FBIN New 2025-12-31 Filed 2026-02-17 773,799 0 - +$38.7M
VEEV Major reduction 2025-12-31 Filed 2026-02-17 262,070 325,650 -19.5% -$38.5M
BIRK Major increase 2025-12-31 Filed 2026-02-17 7,966,037 6,353,801 25.4% +$38.3M
RGEN Major increase 2025-12-31 Filed 2026-02-17 544,779 381,678 42.7% +$38.2M
CPNG Minor reduction 2025-12-31 Filed 2026-02-17 4,274,350 4,305,895 -0.7% -$37.8M
TMHC Major reduction 2025-12-31 Filed 2026-02-17 400,419 923,655 -56.6% -$37.4M
HLI Minor reduction 2025-12-31 Filed 2026-02-17 1,123,951 1,130,190 -0.6% -$36.3M
INTA Major increase 2025-12-31 Filed 2026-02-17 3,327,989 2,880,950 15.5% +$34.7M
FROG Major increase 2025-12-31 Filed 2026-02-17 1,493,518 1,249,068 19.6% +$34.2M
GDS Minor reduction 2025-12-31 Filed 2026-02-17 3,784,848 4,258,664 -11.1% -$32.7M
LVS Major increase 2025-12-31 Filed 2026-02-17 1,497,892 1,218,229 23.0% +$32.0M
ODD Minor reduction 2025-12-31 Filed 2026-02-17 1,353,715 1,376,781 -1.7% -$31.4M
PAR Major reduction 2025-12-31 Filed 2026-02-17 1,004,536 1,711,465 -41.3% -$31.3M
KRMN Major reduction 2025-12-31 Filed 2026-02-17 1,914,221 2,371,232 -19.3% -$31.1M
FND Minor reduction 2025-12-31 Filed 2026-02-17 1,354,401 1,527,395 -11.3% -$30.1M
DLR Major reduction 2025-12-31 Filed 2026-02-17 138,178 292,623 -52.8% -$29.2M
SHOP Minor increase 2025-12-31 Filed 2026-02-17 2,288,270 2,285,499 0.1% +$28.7M
EQIX Major reduction 2025-12-31 Filed 2026-02-17 145,429 178,348 -18.5% -$28.3M
NU Major increase 2025-12-31 Filed 2026-02-17 3,335,290 1,738,774 91.8% +$28.0M
LLY Minor increase 2025-12-31 Filed 2026-02-17 86,476 85,613 1.0% +$27.6M
BXP Major reduction 2025-12-31 Filed 2026-02-17 202,984 543,461 -62.6% -$26.7M
RRR Minor increase 2025-12-31 Filed 2026-02-17 12,519,892 12,269,167 2.0% +$26.5M
WELL Minor increase 2025-12-31 Filed 2026-02-17 1,277,492 1,186,934 7.6% +$25.7M
HTFL Major increase 2025-12-31 Filed 2026-02-17 2,303,877 1,237,506 86.2% +$25.5M
WYNN Minor reduction 2025-12-31 Filed 2026-02-17 1,219,590 1,337,858 -8.8% -$24.9M
SCHW Minor reduction 2025-12-31 Filed 2026-02-17 7,060,309 7,131,959 -1.0% +$24.5M
TSM Minor increase 2025-12-31 Filed 2026-02-17 634,652 605,912 4.7% +$23.6M
ACGL Minor reduction 2025-12-31 Filed 2026-02-17 17,987,505 18,759,655 -4.1% +$23.3M
ICLR Major reduction 2025-12-31 Filed 2026-02-17 534,248 684,941 -22.0% -$22.5M
BABA Minor increase 2025-12-31 Filed 2026-02-17 1,071,647 1,003,699 6.8% -$22.3M
AVGO Minor increase 2025-12-31 Filed 2026-02-17 537,840 497,399 8.1% +$22.0M
ESTA Major reduction 2025-12-31 Filed 2026-02-17 961,226 1,181,824 -18.7% +$21.6M
JLL Minor increase 2025-12-31 Filed 2026-02-17 564,297 564,097 0.0% +$21.6M
MELI Minor reduction 2025-12-31 Filed 2026-02-17 61,964 62,634 -1.1% -$21.6M
ZLAB Minor increase 2025-12-31 Filed 2026-02-17 1,418,005 1,371,243 3.4% -$21.5M
ROP Minor reduction 2025-12-31 Filed 2026-02-17 207,437 226,060 -8.2% -$20.4M
IOT Major increase 2025-12-31 Filed 2026-02-17 4,120,031 3,378,831 21.9% +$20.2M
EXK Major reduction 2025-12-31 Filed 2026-02-17 954,547 2,139,050 -55.4% -$20.1M
YMM Minor reduction 2025-12-31 Filed 2026-02-17 5,772,623 6,314,857 -8.6% -$20.0M
TTAN Minor increase 2025-12-31 Filed 2026-02-17 1,096,931 962,618 14.0% +$19.8M
AXON Major increase 2025-12-31 Filed 2026-02-17 106,441 57,242 85.9% +$19.4M
IBKR Minor increase 2025-12-31 Filed 2026-02-17 4,643,376 4,609,768 0.7% -$18.6M
GTLB Minor reduction 2025-12-31 Filed 2026-02-17 1,426,527 1,598,057 -10.7% -$18.5M
LGN Minor increase 2025-12-31 Filed 2026-02-17 1,395,682 1,392,531 0.2% +$17.2M
NET Minor reduction 2025-12-31 Filed 2026-02-17 409,604 454,234 -9.8% -$16.7M
META Minor increase 2025-12-31 Filed 2026-02-17 270,126 265,135 1.9% -$16.4M
BX Minor reduction 2025-12-31 Filed 2026-02-17 580,010 616,242 -5.9% -$15.9M
VRSK Minor increase 2025-12-31 Filed 2026-02-17 1,302,611 1,221,015 6.7% -$15.7M
NVMI Major increase 2025-12-31 Filed 2026-02-17 154,511 109,692 40.9% +$15.7M
PONY Minor increase 2025-12-31 Filed 2026-02-17 2,586,581 2,335,346 10.8% -$15.0M
MPWR Major increase 2025-12-31 Filed 2026-02-17 65,227 48,196 35.3% +$14.7M
SQM Minor reduction 2025-12-31 Filed 2026-02-17 562,105 600,938 -6.5% +$12.8M
IDXX Minor reduction 2025-12-31 Filed 2026-02-17 1,798,041 1,884,129 -4.6% +$12.7M
BWIN Minor increase 2025-12-31 Filed 2026-02-17 3,010,428 3,010,203 0.0% -$12.6M
SITM Major reduction 2025-12-31 Filed 2026-02-17 116,493 178,103 -34.6% -$12.5M
S Minor reduction 2025-12-31 Filed 2026-02-17 2,536,596 2,869,125 -11.6% -$12.5M
ZS Minor increase 2025-12-31 Filed 2026-02-17 190,968 183,773 3.9% -$12.1M
NOW Major increase 2025-12-31 Filed 2026-02-17 224,966 50,250 347.7% -$11.8M
AAON Minor increase 2025-12-31 Filed 2026-02-17 738,016 726,907 1.5% -$11.6M
WING Major increase 2025-12-31 Filed 2026-02-17 215,231 159,779 34.7% +$11.1M
INDI Minor increase 2025-12-31 Filed 2026-02-17 21,705,742 21,557,287 0.7% -$11.1M
GOOGL Minor increase 2025-12-31 Filed 2026-02-17 157,498 157,439 0.0% +$11.0M
ISRG Minor reduction 2025-12-31 Filed 2026-02-17 97,334 99,633 -2.3% +$10.6M
STVN Minor increase 2025-12-31 Filed 2026-02-17 2,001,724 1,973,759 1.4% -$10.5M
STUB Minor reduction 2025-12-31 Filed 2026-02-17 2,953,213 2,994,330 -1.4% -$10.5M
CDW Minor reduction 2025-12-31 Filed 2026-02-17 231,243 261,984 -11.7% -$10.2M
DDOG Minor reduction 2025-12-31 Filed 2026-02-17 490,582 539,443 -9.1% -$10.1M
PWR Minor reduction 2025-12-31 Filed 2026-02-17 328,010 356,846 -8.1% -$9.4M
ALKT Major increase 2025-12-31 Filed 2026-02-17 2,983,065 2,395,032 24.6% +$9.3M
COO Minor increase 2025-12-31 Filed 2026-02-17 664,491 663,738 0.1% +$9.0M
MASI Minor reduction 2025-12-31 Filed 2026-02-17 373,899 388,747 -3.8% -$8.7M
MSFT Minor increase 2025-12-31 Filed 2026-02-17 341,758 335,547 1.9% -$8.5M
GOOG Minor increase 2025-12-31 Filed 2026-02-17 117,784 117,250 0.5% +$8.4M
HLT Minor increase 2025-12-31 Filed 2026-02-17 267,703 264,417 1.2% +$8.3M
VRNS Major increase 2025-12-31 Filed 2026-02-17 1,226,240 559,250 119.3% +$8.1M
RBC Minor reduction 2025-12-31 Filed 2026-02-17 303,110 327,649 -7.5% +$8.0M
LPX Minor reduction 2025-12-31 Filed 2026-02-17 674,577 703,627 -4.1% -$8.0M
STEP Major increase 2025-12-31 Filed 2026-02-17 730,557 598,290 22.1% +$7.8M
MAC Minor increase 2025-12-31 Filed 2026-02-17 3,286,261 2,909,869 12.9% +$7.7M
DKNG Minor increase 2025-12-31 Filed 2026-02-17 4,674,455 4,105,968 13.8% +$7.5M
LOW Minor reduction 2025-12-31 Filed 2026-02-17 221,833 242,466 -8.5% -$7.4M
BXMT Major increase 2025-12-31 Filed 2026-02-17 2,000,621 1,696,314 17.9% +$7.0M
BMI Major increase 2025-12-31 Filed 2026-02-17 300,046 254,423 17.9% +$6.9M
EQR Major increase 2025-12-31 Filed 2026-02-17 675,281 551,275 22.5% +$6.9M
TME Minor increase 2025-12-31 Filed 2026-02-17 2,068,105 1,839,036 12.5% -$6.7M
BAH Major increase 2025-12-31 Filed 2026-02-17 469,264 329,787 42.3% +$6.6M
LPLA Major reduction 2025-12-31 Filed 2026-02-17 175,245 207,897 -15.7% -$6.6M
WST Minor reduction 2025-12-31 Filed 2026-02-17 263,189 300,931 -12.5% -$6.5M
ONT Minor increase 2025-12-31 Filed 2026-02-17 2,160,599 2,160,463 0.0% -$5.7M
ARGX Minor reduction 2025-12-31 Filed 2026-02-17 153,719 167,694 -8.3% +$5.6M
MA Minor reduction 2025-12-31 Filed 2026-02-17 79,958 89,466 -10.6% -$5.2M
TDG Minor reduction 2025-12-31 Filed 2026-02-17 77,799 82,149 -5.3% -$4.8M
VMC Minor increase 2025-12-31 Filed 2026-02-17 225,132 223,166 0.9% -$4.4M
CRH Minor increase 2025-12-31 Filed 2026-02-17 844,634 842,734 0.2% +$4.4M
TXRH Minor increase 2025-12-31 Filed 2026-02-17 314,886 288,439 9.2% +$4.3M
AEIS Major reduction 2025-12-31 Filed 2026-02-17 299,141 391,985 -23.7% -$4.1M
CBRE Minor reduction 2025-12-31 Filed 2026-02-17 1,359,332 1,362,985 -0.3% +$3.8M
LYV Minor increase 2025-12-31 Filed 2026-02-17 277,801 265,000 4.8% -$3.7M
IBP Minor reduction 2025-12-31 Filed 2026-02-17 423,182 458,182 -7.6% -$3.2M
BAP Minor reduction 2025-12-31 Filed 2026-02-17 285,044 295,922 -3.7% +$3.0M
JEF Minor increase 2025-12-31 Filed 2026-02-17 596,528 519,528 14.8% +$3.0M
HQY Minor reduction 2025-12-31 Filed 2026-02-17 756,025 759,525 -0.5% -$2.7M
ROL Minor reduction 2025-12-31 Filed 2026-02-17 1,208,539 1,279,912 -5.6% -$2.6M
APH Minor reduction 2025-12-31 Filed 2026-02-17 1,710,742 1,889,530 -9.5% -$2.6M
FICO Minor reduction 2025-12-31 Filed 2026-02-17 68,651 75,829 -9.5% +$2.6M
TW Minor reduction 2025-12-31 Filed 2026-02-17 381,337 392,110 -2.7% -$2.5M
PCOR Minor increase 2025-12-31 Filed 2026-02-17 1,515,982 1,480,776 2.4% +$2.3M
TOL Minor increase 2025-12-31 Filed 2026-02-17 1,166,270 1,156,885 0.8% -$2.1M
BN Major increase 2025-12-31 Filed 2026-02-17 3,635,917 2,402,280 51.4% +$2.1M
SPG Minor increase 2025-12-31 Filed 2026-02-17 252,790 239,755 5.4% +$1.8M
DT Minor increase 2025-12-31 Filed 2026-02-17 1,499,500 1,378,122 8.8% -$1.8M
NCNO Minor increase 2025-12-31 Filed 2026-02-17 2,102,737 2,053,712 2.4% -$1.8M
HEI.A Minor increase 2025-12-31 Filed 2026-02-17 434,342 424,729 2.3% +$1.7M
V Minor reduction 2025-12-31 Filed 2026-02-17 177,148 177,441 -0.2% +$1.6M
NPO Minor increase 2025-12-31 Filed 2026-02-17 298,850 289,391 3.3% -$1.4M
SSNC Minor reduction 2025-12-31 Filed 2026-02-17 578,673 582,489 -0.7% -$1.1M
TRU Minor reduction 2025-12-31 Filed 2026-02-17 813,353 822,483 -1.1% +$837,394
BFAM Minor increase 2025-12-31 Filed 2026-02-17 1,013,488 938,962 7.9% +$824,579
SITE Minor increase 2025-12-31 Filed 2026-02-17 2,028,366 1,966,876 3.1% -$680,360
MSGS Minor reduction 2025-12-31 Filed 2026-02-17 200,015 225,015 -11.1% +$655,475
NEOG Major reduction 2025-12-31 Filed 2026-02-17 5,509,659 6,852,218 -19.6% -$613,649
LOAR Major increase 2025-12-31 Filed 2026-02-17 2,119,505 1,809,099 17.2% -$601,580
NTSK Major increase 2025-12-31 Filed 2026-02-17 2,981,743 2,326,779 28.1% -$587,915
EFOR Minor reduction 2025-12-31 Filed 2026-02-17 1,310,800 1,321,680 -0.8% +$559,688
SNOW Minor increase 2025-12-31 Filed 2026-02-17 381,878 373,422 2.3% -$456,574
NVDA Minor increase 2025-12-31 Filed 2026-02-17 2,988,943 2,985,302 0.1% +$440,222
HNGE Minor increase 2025-12-31 Filed 2026-02-17 999,570 944,975 5.8% +$50,653

Public video / Interview / Shareholder letter / Public Q&A

2 reliable public materials
Shareholder letter / fund letter

Baron Funds Quarterly Reports and Shareholder Letters

The Baron Funds official quarterly report page provides Ron Baron team's shareholder letters, portfolio views and long-term growth company cases, and is the core entrance to track Baron's public materials.

  • Baron's public profiles typically emphasize founders, long-term market space, revenue growth, and multi-year compounding.
  • The quarterly report is appropriate to explain its long-term interest in Tesla, SpaceX ecosystem, hospitality, medical and growing consumer companies.
  • The official page has a stable source and can be tracked continuously.
  • It should be noted that the Baron style is sensitive to growth expectations and valuation, and the long-term view does not equal short-term safety.
  • This information connects Ron Baron's page to actual fund communications.
Public video

Ron Baron Annual Investment Conference Materials

Baron Investment Conference public materials and video portals show Ron Baron interacting with company management, founders, and long-term growth stories.

  • The Baron conference, which emphasizes long-term ownership and direct communication with corporate management, is an important public window for Ron Baron's style.
  • The conference materials help investors understand why Baron is willing to hold high-volatility growth companies for long periods of time.
  • Public videos and meeting materials retain full context better than media excerpts.
  • It is necessary to look at the company story in the meeting separately from the fund's actual positions and valuation risks.
  • This information is suitable to be placed in the public video category and can be updated with the annual meeting.