13F filer · CIK 1017918 ↗
Baron Capital
You are looking at Q3 2023. See the latest, Q2 2026 →
Reported value
$34.42B
−4.7% on the quarter before
Positions
334
12 new · 21 sold out
Top 10
43.9%
of the value
Est. gain
−$1.51B
on stocks held all quarter
Est. return
−4.3%
on those stocks since Q2 2023
Positions as of Sep 30, 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 Q2 2023. Striped tiles are options.
Largest buys
Since Q2 2023, 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.
- Liberty Media Corp Del~$74.8MNew · 0.0% → 0.2%+1,200,000 shares
- On Hldg Ag~$59.7MAdded · 0.1% → 0.2%+2,145,318 shares
- Moderna Inc~$43.2MAdded · 0.0% → 0.1%+418,269 shares
- Krispy Kreme Inc~$42.9MAdded · 0.2% → 0.3%+3,439,948 shares
- Red Rock Resorts Inc~$39.5MAdded · 1.2% → 1.2%+962,841 shares
- Indie Semiconductor Inc~$32.7MAdded · 0.2% → 0.2%+5,193,775 shares
- Nvidia~$30.7MAdded · 0.6% → 0.8%+70,597 shares
- Spotify Technology S A~$30.6MAdded · 0.2% → 0.3%+197,571 shares
- Nu Hldgs Ltd~$30.4MAdded · 0.0% → 0.1%+4,190,135 shares
- SentinelOne~$29.3MNew · 0.0% → 0.1%+1,735,000 shares
Largest sells
Since Q2 2023, 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.
- TSMC~$93.3MCut · 1.0% → 0.6%−1,073,460 shares
- Liberty Media Corp Delaware~$90.3MSold out · 0.3% → 0.0%−1,200,000 shares
- Brookfield Corp~$37.2MCut · 0.3% → 0.2%−1,190,644 shares
- ZoomInfo~$34.6MCut · 0.2% → 0.1%−2,110,236 shares
- Penn Entertainment Inc~$29.8MCut · 0.5% → 0.4%−1,298,955 shares
- Kinsale Cap Group Inc~$29.4MCut · 2.1% → 2.4%−70,911 shares
- Jd.Com Inc~$29.2MCut · 0.2% → 0.1%−1,002,052 shares
- Sba Communications Corp~$28.4MCut · 0.3% → 0.2%−141,974 shares
- CrowdStrike~$27.8MCut · 0.2% → 0.2%−165,901 shares
- Illumina Inc~$27.6MCut · 0.2% → 0.1%−200,733 shares
Holdings
As of Sep 30, 2023. Changes are in shares against Jun 30, 2023, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| TeslaCOM · shares −0.2% · price −4.4% | 12.8% | $4.42B | −$204.1M | ||||||||
| Arch Cap Group LtdORD · shares −0.3% · price +6.5% | 4.9% | $1.69B | +$103.1M | ||||||||
| GartnerCOM · shares −1.3% · price −1.9% | 4.6% | $1.60B | −$31.2M | ||||||||
| Costar Group IncCOM · shares +0.5% · price −13.6% | 4.3% | $1.48B | −$231.4M | ||||||||
| FactSetCOM · shares +0.3% · price +9.1% | 3.5% | $1.20B | +$100.4M | ||||||||
| Msci IncCL A · shares +0.7% · price +9.3% | 3.4% | $1.16B | +$98.3M | ||||||||
| Vail Resorts IncCOM · shares +1.1% · price −11.9% | 3.0% | $1.05B | −$139.5M | ||||||||
| Idexx Labs IncCOM · shares −1.7% · price −12.9% | 3.0% | $1.02B | −$151.8M | ||||||||
| Kinsale Cap Group IncCOM · shares −3.4% · price +10.7% | 2.4% | $822.1M | +$79.3M | ||||||||
| Iridium Communications IncCOM · shares +0.4% · price −26.8% | 1.9% | $663.4M | −$241.5M | ||||||||
| Ansys IncCOM · shares +0.6% · price −9.9% | 1.7% | $595.9M | −$65.1M | ||||||||
| Choice Hotels Intl IncCOM · shares +0.2% · price +4.2% | 1.6% | $567.7M | +$23.1M | ||||||||
| Hyatt Hotels CorpCOM CL A · shares +0.07% · price −7.4% | 1.6% | $565.1M | −$45.2M | ||||||||
| Guidewire SoftwareCOM · shares +0.6% · price +18.3% | 1.6% | $561.5M | +$86.3M | ||||||||
| Schwab Charles CorpCOM · shares +0.5% · price −3.1% | 1.3% | $444.8M | −$14.3M | ||||||||
| Red Rock Resorts IncCL A · shares +11% · price −12.4% | 1.2% | $404.1M | −$51.4M | ||||||||
| West Pharmaceutical Svsc IncCOM · shares −1.0% · price −1.9% | 1.1% | $394.0M | −$7.6M | ||||||||
| Gaming & Leisure Pptys IncCOM · shares −0.07% · price −6.0% | 1.1% | $383.5M | −$24.5M | ||||||||
| Primerica IncCOM · shares −1.1% · price −1.9% | 1.1% | $373.6M | −$7.2M | ||||||||
| Mettler Toledo InternationalCOM · shares −0.6% · price −15.5% | 1.1% | $368.9M | −$67.8M | ||||||||
| Bio Techne CorpCOM · shares −0.08% · price −16.6% | 1.1% | $365.9M | −$72.9M | ||||||||
| Verisk AnalyticsCL A · shares +0.10% · price +4.5% | 0.92% | $318.0M | +$13.7M | ||||||||
| Morningstar IncCOM · shares +8.0% · price +19.5% | 0.90% | $310.7M | +$46.9M | ||||||||
| Marriott Vacations WorldwideCOM · shares −4.4% · price −18.0% | 0.80% | $274.6M | −$60.3M | ||||||||
| NvidiaCOM · shares +13% · price +2.8% | 0.78% | $268.3M | +$6.5M | ||||||||
| Total · 334 positions | 100% | $34.42B | −$1.51B |
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 Q2 2023 to Q3 2023: 322 stocks held throughout, down $1.51B (−4.3%).
- Arch Cap Group Ltd+$103.1M+6%
- FactSet+$100.4M+9%
- Msci Inc+$98.3M+9%
- Vertiv+$88.3M+50%
- Guidewire Software+$86.3M+18%
- Vail Resorts Inc−$139.5M−12%
- Idexx Labs Inc−$151.8M−13%
- Tesla−$204.1M−4%
- Costar Group Inc−$231.4M−14%
- Iridium Communications Inc−$241.5M−27%
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 ↗ |