Investment objective & strategy
As of Jan. 28, 2026 · prospectusObjective. The investment goal of the Baron Durable Advantage Fund (the Fund) is capital appreciation through investments primarily in securities of large-sized companies.
Strategy. The Fund is a diversified fund that, under normal circumstances, invests primarily in equity securities of U.S. large-sized companies. The Adviser defines large-sized companies as those, at the time of purchase, with market capitalizations no smaller than the top 90 th percentile by total market capitalization of the S&P 500 Index at June 30, or companies with market capitalizations above $10 billion, whichever is smaller. The Adviser seeks to invest primarily in what it believes are well-managed, competitively advantaged businesses that generate significant excess free cash flow that is consistently returned to shareholders in the form of stock buybacks and/or dividends. The Fund is a diversified fund that, under normal circumstances, invests primarily in equity securities of U.S. large-sized companies. The Adviser defines large-sized companies as those, at the time of purchase, with market capitalizations no smaller than the top 90 th percentile by total market capitalization of the S&P 500 Index at June 30, or companies with market capitalizations above $10 billion, whichever is smaller. The Adviser seeks to invest primarily in what it believes are well-managed, competitively advantaged businesses that generate significant excess free cash flow that is consistently returned to shareholders in the form of stock buybacks and/or dividends.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| NVIDIA CORP | — | $39.84M | 8.25% |
| TAIWAN SEMIC MFG CO LTD SP ADR | — | $38.51M | 7.97% |
| AMAZON.COM INC | — | $33.73M | 6.99% |
| ALPHABET INC CL C | — | $33.30M | 6.90% |
| META PLATFORMS INC CL A | — | $32.64M | 6.76% |
| MONOLITHIC POWER SYS INC | — | $24.35M | 5.04% |
| BROADCOM INC | — | $23.86M | 4.94% |
| MICROSOFT CORP | — | $23.55M | 4.88% |
| VISA INC-CLASS A | — | $19.64M | 4.07% |
| WELLTOWER INC | — | $15.92M | 3.30% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Baron Global Durable Advantage ETF · BCGD | 56% | 0.75% |
| AB Growth Fund · AGRFX, AGRCX, AGRYX, AGFIX | 53% | 0.85% |
| Fidelity Magellan ETF · FMAG | 49% | 0.57% |
Advisers
| Firm | Role |
|---|---|
| BAMCO, Inc. | Adviser |
Footnotes
- Expense ratio as of January 28, 2026, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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