Investment objective & strategy
As of April 30, 2025 · prospectusObjective. The investment objective of the LVIP Baron Growth Opportunities Fund (the Fund) is to seek capital appreciation through long-term investments in securities of small-sized companies with undervalued assets or favorable growth prospects.
Strategy. BAMCO, Inc. (the Sub-Adviser) serves as the Funds sub-adviser. The Sub-Adviser is responsible for the day-to-day management of the Funds assets. The Fund, under normal circumstances, invests primarily by purchasing equity securities issued by U.S. growth companies that, at the time of purchase, are small-sized companies. The Sub-Adviser defines small-sized companies as those 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 Fund may continue to hold investments after their issuers exceed these market cap limits, so securities of mid-sized companies may constitute a substantial portion of the Funds portfolio. The Sub-Adviser seeks to invest in businesses it … BAMCO, Inc. (the Sub-Adviser) serves as the Funds sub-adviser. The Sub-Adviser is responsible for the day-to-day management of the Funds assets. The Fund, under normal circumstances, invests primarily by purchasing equity securities issued by U.S. growth companies that, at the time of purchase, are small-sized companies. The Sub-Adviser defines small-sized companies as those 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 Fund may continue to hold investments after their issuers exceed these market cap limits, so securities of mid-sized companies may constitute a substantial portion of the Funds portfolio. The Sub-Adviser 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 March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| MSCI INC | — | $59.77M | 9.38% |
| ARCH CAPITAL GROUP LTD | — | $52.73M | 8.27% |
| IDEXX LABS INC | — | $36.65M | 5.75% |
| KINSALE CAPITAL GROUP INC | — | $35.41M | 5.56% |
| PRIMERICA INC | — | $35.01M | 5.49% |
| FIGS INC-CLASS A | — | $34.28M | 5.38% |
| GUIDEWIRE SOFTWARE INC | — | $33.05M | 5.19% |
| COSTAR GROUP INC | — | $25.37M | 3.98% |
| GARTNER INC | — | $24.49M | 3.84% |
| VAIL RESORTS INC | — | $24.00M | 3.77% |
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. |
|---|---|---|
| VY(R) BARON GROWTH PORTFOLIO · IBSAX, IBGIX, IBSSX, IBCGX, VYRBX | 89% | 0.98% |
| BARON GROWTH FUND · BGRFX, BGRIX, BGRUX | 62% | 1.34% |
| Baron First Principles ETF · RONB | 35% | 1.00% |
Advisers
| Firm | Role |
|---|---|
| Lincoln Financial Investments Corporation | Adviser |
| BAMCO, Inc. | Sub-adviser |
Footnotes
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
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