Investment objective & strategy
As of Jan. 28, 2026 · prospectusObjective. The investment goal of Baron Small Cap Fund (the Fund) is capital appreciation through investments primarily in securities of small-sized growth companies.
Strategy. The Fund is a diversified fund that, under normal circumstances, invests at least 80% of its net assets in equity securities of U.S. small-sized growth companies. BAMCO, Inc. (BAMCO or the Adviser) defines small-sized companies as those, at the time of purchase, with market capitalizations up to the largest market cap stock in the Russell 2000 Growth Index at reconstitution, or companies with market capitalizations up to $2.5 billion, whichever is larger. The Adviser seeks to invest in businesses it believes have significant opportunities for growth, sustainable competitive advantages, exceptional management, and an attractive valuation. Because of its long-term approach, the Fund could have a significant percentage of its assets invested in securities that have appreciated beyond their market capitalizations … The Fund is a diversified fund that, under normal circumstances, invests at least 80% of its net assets in equity securities of U.S. small-sized growth companies. BAMCO, Inc. (BAMCO or the Adviser) defines small-sized companies as those, at the time of purchase, with market capitalizations up to the largest market cap stock in the Russell 2000 Growth Index at reconstitution, or companies with market capitalizations up to $2.5 billion, whichever is larger. The Adviser seeks to invest in businesses it believes have significant opportunities for growth, sustainable competitive advantages, exceptional management, and an attractive valuation. Because of its long-term approach, the Fund could have a significant percentage of its assets invested in securities that have appreciated beyond their market capitalizations at the time of the Funds investment.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| VERTIV HOLDINGS CO | — | $212.99M | 7.89% |
| RED ROCK RESORTS INC | — | $136.07M | 5.04% |
| SITEONE LANDSCAPE SUPPLY INC | — | $129.78M | 4.81% |
| KINSALE CAPITAL GROUP INC | — | $126.41M | 4.68% |
| GUIDEWIRE SOFTWARE INC | — | $112.17M | 4.15% |
| PLANET FITNESS INC CL A | — | $89.26M | 3.31% |
| COGNEX CORP | — | $85.24M | 3.16% |
| JOHN BEAN TECHNOLOGIES CORP | — | $84.39M | 3.13% |
| TRANSDIGM GROUP INC | — | $81.13M | 3.00% |
| RBC BEARINGS INC | — | $76.04M | 2.82% |
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. |
|---|---|---|
| LVIP Baron Growth Opportunities Fund | 26% | 0.89% |
| VY(R) BARON GROWTH PORTFOLIO · IBSAX, IBGIX, IBSSX, IBCGX, VYRBX | 26% | 0.98% |
| BARON DISCOVERY FUND · BDFFX, BDFIX, BDFUX | 19% | 1.05% |
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. As reported in the fund's prospectus performance bar chart.
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