13F filer · CIK 1017918 ↗
Baron Capital
You are looking at Q1 2023. See the latest, Q2 2026 →
Reported value
$33.31B
+12% on the quarter before
Positions
360
16 new · 31 sold out
Top 10
42.4%
of the value
Est. gain
+$3.55B
on stocks held all quarter
Est. return
+12.4%
on those stocks since Q4 2022
Positions as of Mar 31, 2023, from Baron Capital's 13F filing with the SEC. A 13F lists a manager's US-listed stocks and options at a quarter end and is filed up to 45 days later, so the fund may hold something else today. It leaves out short positions, cash and holdings outside the US.
Portfolio at a glance
- New
- Added
- Cut
- Same
- Options
The 24 largest positions, 61% of the reported value, each sized by its share, colored by what the fund did with it since Q4 2022. Striped tiles are options.
Largest buys
Since Q4 2022, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.
- Schwab Charles Corp New~$47.9MAdded · 1.9% → 1.2%+915,388 shares
- Wynn Resorts Ltd~$46.9MNew · 0.0% → 0.1%+419,413 shares
- Caesars Entertainment Inc Ne~$40.7MNew · 0.0% → 0.1%+833,301 shares
- TSMC~$40.3MAdded · 1.0% → 1.2%+433,498 shares
- Quanta Services~$36.1MNew · 0.0% → 0.1%+216,686 shares
- Repligen Corp~$35.8MAdded · 0.0% → 0.1%+212,374 shares
- Douglas Emmett Inc~$35.6MAdded · 0.3% → 0.3%+2,885,603 shares
- Coupang Inc~$33.4MAdded · 0.2% → 0.3%+2,087,031 shares
- Mgm Resorts International~$33.2MAdded · 0.1% → 0.2%+746,504 shares
- Welltower Inc~$32.6MAdded · 0.0% → 0.1%+454,453 shares
Largest sells
Since Q4 2022, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.
- Baidu~$62.5MCut · 0.3% → 0.1%−414,157 shares
- Installed Bldg Prods Inc~$51.2MCut · 0.4% → 0.3%−449,262 shares
- Sba Communications Corp~$49.8MCut · 0.7% → 0.4%−190,805 shares
- Argenx Se~$43.0MCut · 0.5% → 0.3%−115,331 shares
- Shopify Inc~$39.5MCut · 0.3% → 0.3%−824,371 shares
- Trex Co Inc~$38.5MCut · 0.5% → 0.4%−790,063 shares
- Progyny Inc~$36.3MSold out · 0.1% → 0.0%−1,163,928 shares
- Alphabet~$34.8MCut · 0.2% → 0.1%−334,360 shares
- Gartner~$33.3MCut · 5.5% → 4.7%−102,330 shares
- Teleflex Inc~$30.9MCut · 0.1% → 0.0%−121,896 shares
Holdings
As of Mar 31, 2023. Changes are in shares against Dec 31, 2022, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| TeslaCOM · shares +0.5% · price +68.4% | 11.0% | $3.65B | +$1.48B | ||||||||
| GartnerCOM · shares −2.1% · price −3.1% | 4.7% | $1.56B | −$49.7M | ||||||||
| Arch Cap Group LtdORD · shares −0.6% · price +8.1% | 4.3% | $1.45B | +$108.4M | ||||||||
| Costar Group IncCOM · shares −0.7% · price −10.9% | 3.9% | $1.31B | −$159.9M | ||||||||
| Msci IncCL A · shares −0.06% · price +20.3% | 3.7% | $1.22B | +$205.4M | ||||||||
| Idexx Labs IncCOM · shares −0.7% · price +22.6% | 3.5% | $1.18B | +$217.1M | ||||||||
| FactSetCOM · shares +0.7% · price +3.5% | 3.4% | $1.12B | +$37.2M | ||||||||
| Vail Resorts IncCOM · shares +0.8% · price −2.0% | 3.2% | $1.08B | −$21.4M | ||||||||
| Iridium Communications IncCOM · shares −0.5% · price +20.5% | 2.7% | $894.3M | +$152.1M | ||||||||
| Ansys IncCOM · shares +0.5% · price +37.8% | 2.0% | $653.0M | +$178.1M | ||||||||
| Kinsale Cap Group IncCOM · shares −0.1% · price +14.8% | 1.9% | $622.7M | +$80.1M | ||||||||
| Hyatt Hotels CorpCOM CL A · shares −0.2% · price +23.6% | 1.7% | $575.6M | +$109.9M | ||||||||
| Choice Hotels Intl IncCOM · shares −0.06% · price +4.0% | 1.6% | $536.0M | +$20.8M | ||||||||
| Mettler Toledo InternationalCOM · shares −1.9% · price +5.9% | 1.5% | $512.7M | +$28.4M | ||||||||
| Guidewire SoftwareCOM · shares +3.9% · price +31.2% | 1.5% | $501.0M | +$114.6M | ||||||||
| Gaming & Leisure Pptys IncCOM · shares −4.7% · price −0.1% | 1.3% | $441.0M | −$254,107 | ||||||||
| Schwab Charles Corp NewCOM · shares +14% · price −37.1% | 1.2% | $399.7M | −$207.3M | ||||||||
| Bio Techne CorpCOM · shares −2.5% · price −10.5% | 1.2% | $399.1M | −$46.7M | ||||||||
| TSMCSPONSORED ADR · shares +11% · price +24.9% | 1.2% | $398.2M | +$71.3M | ||||||||
| Red Rock Resorts IncCL A · shares +3.7% · price +11.4% | 1.1% | $377.5M | +$37.2M | ||||||||
| Marriott Vacations Worldwide CCOM · shares +3.8% · price +0.2% | 1.1% | $375.6M | +$724,650 | ||||||||
| West Pharmaceutical Svsc IncCOM · shares −1.0% · price +47.2% | 1.1% | $369.0M | +$118.4M | ||||||||
| Primerica IncCOM · shares −0.2% · price +21.4% | 1.0% | $335.4M | +$59.2M | ||||||||
| Ceridian Hcm Hldg IncCOM · shares −0.6% · price +14.1% | 0.76% | $253.9M | +$31.5M | ||||||||
| Floor & Decor Hldgs IncCL A · shares −6.3% · price +41.1% | 0.76% | $253.4M | +$73.7M | ||||||||
| Total · 360 positions | 100% | $33.31B | +$3.55B |
Price is a stock's reported value over its shares at the quarter end. The estimated gain is the shares held at both quarter ends times the change in that price: shares bought or sold during the quarter add nothing, options are left out, and a stock split is read into the earlier share count and price.
What made money
From Q4 2022 to Q1 2023: 344 stocks held throughout, up $3.55B (+12.4%).
- Tesla+$1.48B+68%
- Idexx Labs Inc+$217.1M+23%
- Msci Inc+$205.4M+20%
- Ansys Inc+$178.1M+38%
- Iridium Communications Inc+$152.1M+20%
- Alexandria Real Estate Eq In−$25.1M−14%
- Bio Techne Corp−$46.7M−10%
- Gartner−$49.7M−3%
- Costar Group Inc−$159.9M−11%
- Schwab Charles Corp New−$207.3M−37%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out.
Reported value by quarter
The total value of each quarter's 13F at that quarter end. It moves with prices as well as with buying and selling. Pick a quarter to see what the fund held then.
Every quarter's filing
| Quarter | Reported value | Filing | |
|---|---|---|---|
| Q2 2026 | Aug 14, 2026 | $66.64B+101% | SEC ↗ |
| Q1 2026 | May 15, 2026 | $33.13B−10% | SEC ↗ |
| Q4 2025 | Feb 17, 2026 | $36.91B−2% | SEC ↗ |
| Q3 2025 | Nov 14, 2025 | $37.71B+2% | SEC ↗ |
| Q2 2025 | Aug 14, 2025 | $36.89B+8% | SEC ↗ |
| Q1 2025 | May 15, 2025 | $34.05B−12% | SEC ↗ |
| Q4 2024 | Feb 14, 2025 | $38.69B+3% | SEC ↗ |
| Q3 2024 | Nov 14, 2024 | $37.70B+8% | SEC ↗ |
| Q2 2024 | Aug 14, 2024 | $34.92B−7% | SEC ↗ |
| Q1 2024 | May 15, 2024 | $37.52B−0% | SEC ↗ |
| Q4 2023 | Feb 14, 2024 | $37.55B+9% | SEC ↗ |
| Q3 2023 | Nov 14, 2023 | $34.42B−5% | SEC ↗ |
| Q2 2023 | Aug 14, 2023 | $36.11B+8% | SEC ↗ |
| Q1 2023 | May 15, 2023 | $33.31B+12% | SEC ↗ |
| Q4 2022 | Feb 14, 2023 | $29.78B−4% | SEC ↗ |
| Q3 2022 | Nov 14, 2022 | $30.95B−1% | SEC ↗ |
| Q2 2022 | Aug 15, 2022 | $31.14B−24% | SEC ↗ |
| Q1 2022 | May 13, 2022 | $40.75B−14% | SEC ↗ |
| Q4 2021 | Feb 14, 2022 | $47.14B+7% | SEC ↗ |
| Q3 2021 | Nov 12, 2021 | $44.15B+1% | SEC ↗ |
| Q2 2021 | Aug 13, 2021 | $43.68B+8% | SEC ↗ |
| Q1 2021 | May 19, 2021 | $40.57B+0% | SEC ↗ |
| Q4 2020 | Feb 12, 2021 | $40.42B+24% | SEC ↗ |
| Q3 2020 | Nov 13, 2020 | $32.58B+18% | SEC ↗ |
| Q2 2020 | Aug 14, 2020 | $27.66B+36% | SEC ↗ |
| Q1 2020 | May 15, 2020 | $20.41B−22% | SEC ↗ |
| Q4 2019 | Feb 18, 2020 | $26.19B+8% | SEC ↗ |
| Q3 2019 | Nov 14, 2019 | $24.31B−3% | SEC ↗ |
| Q2 2019 | Aug 15, 2019 | $24.94B+6% | SEC ↗ |
| Q1 2019 | May 15, 2019 | $23.59B+19% | SEC ↗ |
| Q4 2018 | Feb 14, 2019 | $19.76B−18% | SEC ↗ |
| Q3 2018 | Nov 14, 2018 | $24.14B+6% | SEC ↗ |
| Q2 2018 | Aug 14, 2018 | $22.88B+5% | SEC ↗ |
| Q1 2018 | May 9, 2018 | $21.73B+0% | SEC ↗ |
| Q4 2017 | Feb 14, 2018 | $21.69B+3% | SEC ↗ |
| Q3 2017 | Nov 15, 2017 | $21.07B+8% | SEC ↗ |
| Q2 2017 | Aug 14, 2017 | $19.58B+4% | SEC ↗ |
| Q1 2017 | May 15, 2017 | $18.88B+6% | SEC ↗ |
| Q4 2016 | Feb 14, 2017 | $17.76B−6% | SEC ↗ |
| Q3 2016 | Nov 15, 2016 (amended) | $18.86B+0% | SEC ↗ |
| Q2 2016 | Aug 15, 2016 | $18.81B−0% | SEC ↗ |
| Q1 2016 | May 16, 2016 | $18.90B | SEC ↗ |