Investment objective & strategy
As of April 30, 2025 · prospectusObjective. The investment goal of Baron Technology Fund (the Fund) is capital appreciation.
Strategy. The Fund is a non-diversified fund that, under normal circumstances, invests at least 80% of its net assets in equity securities of U.S. and non-U.S. technology companies of any market capitalization, selected for their durable growth potential from the development, advancement and use of technology, however, investments in non-U.S. securities are limited to 35% of the Funds total assets at the time of purchase. Technology companies may include those companies in the businesses of, among others: software, IT consulting, IT services, interactive home entertainment, interactive media and services, networking equipment, telecom services, communications equipment, technology hardware, storage and peripherals, electronic equipment, instruments and components, semiconductors and semiconductor equipment, and internet and direct marketing retail. Technology companies may be located anywhere … The Fund is a non-diversified fund that, under normal circumstances, invests at least 80% of its net assets in equity securities of U.S. and non-U.S. technology companies of any market capitalization, selected for their durable growth potential from the development, advancement and use of technology, however, investments in non-U.S. securities are limited to 35% of the Funds total assets at the time of purchase. Technology companies may include those companies in the businesses of, among others: software, IT consulting, IT services, interactive home entertainment, interactive media and services, networking equipment, telecom services, communications equipment, technology hardware, storage and peripherals, electronic equipment, instruments and components, semiconductors and semiconductor equipment, and internet and direct marketing retail. Technology companies may be located anywhere in the world, including developing countries. A developing country is a country included in the MSCI Emerging Markets (EM) Index and other countries determined by the Adviser to be developing countries based on classifications made by the International Monetary Fund or on country characteristics similar to those of the countries in the EM Index. BAMCO seeks to invest in businesses it believes have significant opportunities for growth, sustainable competitive advantages, exceptional management, and an attractive valuation.
Top holdings
As of Sept. 30, 2025 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| NVIDIA CORP | — | $14.57M | 14.14% |
| BROADCOM INC | — | $9.46M | 9.18% |
| AMAZON.COM INC | — | $7.22M | 7.01% |
| TAIWAN SEMIC MFG CO LTD SP ADR | — | $6.41M | 6.22% |
| TESLA INC | — | $5.35M | 5.19% |
| SPOTIFY TECHNOLOGY SA | — | $4.99M | 4.84% |
| MICROSOFT CORP | — | $4.61M | 4.47% |
| ZOMATO LTD | — | $2.99M | 2.90% |
| DUOLINGO INC | — | $2.76M | 2.67% |
| APPLE INC | — | $2.30M | 2.23% |
Portfolio moves
Jun 30, 2025 → Sep 30, 2025How 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 Technology ETF · BCTK | 66% | 0.75% |
| BARON OPPORTUNITY FUND · BIOPX, BIOIX, BIOUX | 59% | 1.04% |
| Goldman Sachs Technology Opportunities ETF · GTOP | 47% | 0.65% |
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 September 30, 2025, from the fund's N-PORT filing.
- Total return for calendar year 2024, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2024 (the latest prospectus does not yet chart this year).
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