Investment objective & strategy
As of April 30, 2025 · prospectusObjective. The investment goal of Baron Real Estate Income Fund (the Fund) is a combination of capital appreciation and current income.
Strategy. The Fund is a non-diversified fund that, under normal circumstances, invests at least 80% of its net assets in equity securities, real estate income-producing securities and other real estate securities of any market capitalization, debt securities, non-U.S. real estate income-producing securities, and any other real estate-related yield securities. Investments in non-U.S. securities are limited to 35% of the Funds total assets at the time of purchase. The Fund may invest in debt securities that have a rating of, or equivalent to, at least BBB by S&P Global Ratings or Baa by Moodys Investors Services, Inc., or if unrated, are judged by the Adviser to be of comparable quality. The Fund may invest up to 35% of its total assets in … The Fund is a non-diversified fund that, under normal circumstances, invests at least 80% of its net assets in equity securities, real estate income-producing securities and other real estate securities of any market capitalization, debt securities, non-U.S. real estate income-producing securities, and any other real estate-related yield securities. Investments in non-U.S. securities are limited to 35% of the Funds total assets at the time of purchase. The Fund may invest in debt securities that have a rating of, or equivalent to, at least BBB by S&P Global Ratings or Baa by Moodys Investors Services, Inc., or if unrated, are judged by the Adviser to be of comparable quality. The Fund may invest up to 35% of its total assets in such securities. Some debt securities purchased by the Fund may have very long maturities. The length of time remaining until maturity is one factor that the Adviser considers in purchasing a particular debt security. The Fund is likely to maintain a significant portion of its assets in real estate investment trusts (REITs). REITs pool money to invest in properties (equity REITs) or mortgages (mortgage REITs), and their revenue primarily consists of rent derived from owned, income producing real estate properties, and capital gains from the sale of such properties. The Fund generally invests in equity REITs. The Adviser seeks to invest in businesses it believes have sustainable competitive advantages, exceptional management, opportunities for growth, and an attractive valuation.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| EQUINIX INC | — | $26.11M | 9.87% |
| WELLTOWER INC | — | $26.10M | 9.87% |
| PROLOGIS INC REIT | — | $24.86M | 9.40% |
| VENTAS INC REIT | — | $14.98M | 5.66% |
| EASTGROUP PROP | — | $10.45M | 3.95% |
| MACERICH COMPANY | — | $10.43M | 3.94% |
| DIGITAL REALTY TRUST INC | — | $9.68M | 3.66% |
| HOST HOTELS & RE | — | $8.86M | 3.35% |
| ESSENTIAL PROPERTIES REALTY TRUST INC | — | $8.78M | 3.32% |
| PUBLIC STORAGE | — | $7.28M | 2.75% |
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. |
|---|---|---|
| Columbia Real Estate Equity Fund · CREAX, CREEX, CRRVX, CREYX, CREHX | 58% | 0.86% |
| Virtus Duff & Phelps Real Estate Securities Series | 57% | 0.85% |
| VY(R) CBRE Real Estate Portfolio · ICRPX, IVRIX, IVRSX, IVRTX | 57% | 0.75% |
Advisers
| Firm | Role |
|---|---|
| BAMCO, Inc. | Adviser |
Footnotes
- Expense ratio as of April 30, 2025, 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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