13F filer · CIK 1017918 ↗
Baron Capital
You are looking at Q4 2024. See the latest, Q2 2026 →
Reported value
$38.69B
+2.6% on the quarter before
Positions
316
18 new · 30 sold out
Top 10
44.3%
of the value
Est. gain
+$1.83B
on stocks held all quarter
Est. return
+5.1%
on those stocks since Q3 2024
Positions as of Dec 31, 2024, 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 Q3 2024. Striped tiles are options.
Largest buys
Since Q3 2024, 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.
- Expedia Group Inc~$80.2MNew · 0.0% → 0.2%+430,454 shares
- ServiceTitan~$70.4MNew · 0.0% → 0.2%+684,222 shares
- Macerich Co~$59.4MAdded · 0.1% → 0.2%+2,980,051 shares
- Kilroy Rlty Corp~$58.7MNew · 0.0% → 0.2%+1,452,331 shares
- Equinix~$46.6MAdded · 0.6% → 0.7%+49,454 shares
- Idexx Labs Inc~$34.0MAdded · 2.6% → 2.1%+82,264 shares
- Red Rock Resorts Inc~$33.9MAdded · 1.5% → 1.4%+732,917 shares
- Costar Group Inc~$29.9MAdded · 3.8% → 3.6%+418,128 shares
- Independence Rlty Tr Inc~$29.1MAdded · 0.0% → 0.1%+1,464,400 shares
- Equity Residential~$27.2MAdded · 0.1% → 0.2%+379,565 shares
Largest sells
Since Q3 2024, 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.
- Tesla~$141.2MCut · 10.4% → 15.2%−349,720 shares
- Vertiv~$90.9MCut · 0.9% → 0.8%−800,000 shares
- Altair Engr Inc~$78.6MCut · 0.3% → 0.2%−720,342 shares
- Rexford Indl Rlty Inc~$76.8MSold out · 0.2% → 0.0%−1,526,016 shares
- Ansys Inc~$66.1MCut · 1.4% → 1.2%−196,038 shares
- Caesars Entertainment Inc Ne~$61.9MSold out · 0.2% → 0.0%−1,482,755 shares
- Axon Enterprise Inc~$59.1MCut · 0.3% → 0.2%−99,491 shares
- FactSet~$58.8MCut · 3.0% → 2.9%−122,416 shares
- Aspen Technology Inc~$53.6MCut · 0.3% → 0.2%−214,797 shares
- Toll Brothers Inc~$53.3MCut · 0.4% → 0.2%−423,535 shares
Holdings
As of Dec 31, 2024. Changes are in shares against Sep 30, 2024, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| TeslaCOM · shares −2.3% · price +54.4% | 15.2% | $5.89B | +$2.07B | ||||||||
| GartnerCOM · shares −2.6% · price −4.4% | 4.9% | $1.90B | −$87.3M | ||||||||
| Arch Cap Group LtdORD · shares −1.3% · price −17.5% | 4.9% | $1.89B | −$399.6M | ||||||||
| Costar Group IncCOM · shares +2.2% · price −5.1% | 3.6% | $1.37B | −$72.3M | ||||||||
| Msci IncCL A · shares −1.2% · price +2.9% | 3.3% | $1.28B | +$36.4M | ||||||||
| FactSetCOM · shares −4.9% · price +4.4% | 2.9% | $1.13B | +$48.1M | ||||||||
| Guidewire SoftwareCOM · shares −1.5% · price −7.8% | 2.6% | $997.2M | −$84.9M | ||||||||
| Vail Resorts IncCOM · shares +2.0% · price +7.6% | 2.6% | $991.7M | +$68.2M | ||||||||
| Hyatt Hotels CorpCOM CL A · shares +1.2% · price +3.1% | 2.3% | $871.4M | +$26.2M | ||||||||
| Idexx Labs IncCOM · shares +4.3% · price −18.2% | 2.1% | $829.2M | −$176.5M | ||||||||
| Kinsale Cap Group IncCOM · shares −1.1% · price −0.1% | 2.1% | $803.1M | −$759,706 | ||||||||
| Choice Hotels Intl IncCOM · shares −0.7% · price +9.0% | 1.7% | $664.8M | +$54.7M | ||||||||
| Schwab Charles CorpCOM · shares −0.7% · price +14.2% | 1.4% | $534.2M | +$66.4M | ||||||||
| Red Rock Resorts IncCL A · shares +6.9% · price −15.1% | 1.4% | $525.1M | −$87.1M | ||||||||
| Ansys IncCOM · shares −12% · price +5.9% | 1.2% | $477.7M | +$26.5M | ||||||||
| Primerica IncCOM · shares −3.3% · price +2.4% | 1.2% | $449.3M | +$10.4M | ||||||||
| Morningstar IncCOM · shares −0.03% · price +5.5% | 1.1% | $439.5M | +$23.0M | ||||||||
| Spotify Technology S ASHS · shares +1.7% · price +21.4% | 1.0% | $401.4M | +$69.6M | ||||||||
| NvidiaCOM · shares −4.9% · price +10.6% | 0.99% | $382.3M | +$36.6M | ||||||||
| Gaming & Leisure Pptys IncCOM · shares −3.6% · price −6.4% | 0.97% | $376.5M | −$25.7M | ||||||||
| Verisk AnalyticsCL A · shares −1.3% · price +2.8% | 0.89% | $345.0M | +$9.4M | ||||||||
| Mettler Toledo InternationalCOM · shares −2.7% · price −18.4% | 0.89% | $343.8M | −$77.6M | ||||||||
| Iridium Communications IncCOM · shares −3.1% · price −4.7% | 0.81% | $312.5M | −$15.4M | ||||||||
| VertivCOM CL A · shares −23% · price +14.2% | 0.81% | $312.4M | +$38.8M | ||||||||
| Bio Techne CorpCOM · shares −6.9% · price −9.9% | 0.77% | $298.0M | −$32.7M | ||||||||
| Total · 316 positions | 100% | $38.69B | +$1.83B |
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 Q3 2024 to Q4 2024: 298 stocks held throughout, up $1.83B (+5.1%).
- Tesla+$2.07B+54%
- Spotify Technology S A+$69.6M+21%
- Vail Resorts Inc+$68.2M+8%
- Shopify Inc+$67.6M+33%
- Schwab Charles Corp+$66.4M+14%
- Guidewire Software−$84.9M−8%
- Red Rock Resorts Inc−$87.1M−15%
- Gartner−$87.3M−4%
- Idexx Labs Inc−$176.5M−18%
- Arch Cap Group Ltd−$399.6M−17%
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 ↗ |