13F filer · CIK 1017918 ↗
Baron Capital
You are looking at Q1 2026. See the latest, Q2 2026 →
Reported value
$33.13B
−10% on the quarter before
Positions
326
36 new · 37 sold out
Top 10
41.5%
of the value
Est. gain
−$4.02B
on stocks held all quarter
Est. return
−12.0%
on those stocks since Q4 2025
Positions as of Mar 31, 2026, 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, 63% of the reported value, each sized by its share, colored by what the fund did with it since Q4 2025. Striped tiles are options.
Largest buys
Since Q4 2025, 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.
- Shopify~$288.2MAdded · 1.0% → 1.7%+2,429,960 shares
- Gartner~$269.9MAdded · 2.9% → 2.8%+1,704,659 shares
- Verisk Analytics~$229.5MAdded · 0.8% → 1.4%+1,209,365 shares
- Guidewire Software~$216.8MAdded · 2.8% → 3.0%+1,449,903 shares
- FactSet~$188.3MAdded · 2.3% → 2.5%+867,742 shares
- Spotify~$156.3MAdded · 1.6% → 1.9%+322,234 shares
- On Hldg Ag~$146.6MAdded · 0.7% → 1.0%+4,309,119 shares
- Forgent Power Solutions Inc~$136.8MNew · 0.0% → 0.4%+4,674,583 shares
- Equinix~$96.6MAdded · 0.3% → 0.7%+98,546 shares
- Kinsale Cap Group Inc~$84.2MAdded · 1.9% → 2.1%+246,564 shares
Largest sells
Since Q4 2025, 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.
- Clearwater Analytics Hldgs I~$181.2MCut · 0.5% → 0.0%−7,661,583 shares
- CoStar Group~$128.4MCut · 3.6% → 2.0%−3,183,924 shares
- Arch Capital Group~$122.7MCut · 4.7% → 4.8%−1,277,746 shares
- Microsoft~$99.2MCut · 0.4% → 0.1%−268,005 shares
- Jones Lang Lasalle Inc~$98.3MCut · 0.5% → 0.2%−323,089 shares
- Exact Sciences Corp~$96.9MSold out · 0.3% → 0.0%−954,547 shares
- Idexx Laboratories~$92.5MCut · 3.3% → 2.8%−164,674 shares
- Vertiv~$91.3MCut · 0.7% → 0.9%−364,428 shares
- Morningstar Inc~$81.5MCut · 0.7% → 0.4%−482,279 shares
- Primerica Inc~$68.3MCut · 0.8% → 0.7%−272,518 shares
Holdings
As of Mar 31, 2026. Changes are in shares against Dec 31, 2025, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| TeslaCOM · shares +0.05% · price −17.3% | 13.4% | $4.44B | −$930.0M | ||||||||
| Arch Capital GroupORD · shares −7.1% · price +0.1% | 4.8% | $1.60B | +$1.2M | ||||||||
| MSCICOM · shares −2.0% · price −6.1% | 4.4% | $1.45B | −$93.7M | ||||||||
| Guidewire SoftwareCOM · shares +28% · price −25.6% | 3.0% | $986.7M | −$264.8M | ||||||||
| GartnerCOM · shares +40% · price −37.2% | 2.8% | $937.0M | −$395.8M | ||||||||
| Idexx LaboratoriesCOM · shares −9.2% · price −16.9% | 2.8% | $917.8M | −$187.2M | ||||||||
| Hyatt Hotels CorpCOM CL A · shares +3.9% · price −10.3% | 2.8% | $911.9M | −$100.9M | ||||||||
| Figs IncCL A · shares 0% · price +30.0% | 2.7% | $885.6M | +$204.5M | ||||||||
| FactSetCOM · shares +30% · price −25.2% | 2.5% | $815.1M | −$211.5M | ||||||||
| Choice Hotels Intl IncCOM · shares +4.1% · price +8.7% | 2.4% | $796.0M | +$60.9M | ||||||||
| Red Rock Resorts IncCL A · shares +7.1% · price −13.9% | 2.2% | $715.7M | −$107.5M | ||||||||
| Charles Schwab CorporationCOM · shares +5.7% · price −5.9% | 2.1% | $701.5M | −$41.9M | ||||||||
| Kinsale Cap Group IncCOM · shares +14% · price −12.6% | 2.1% | $692.8M | −$88.1M | ||||||||
| CoStar GroupCOM · shares −16% · price −40.0% | 2.0% | $658.1M | −$438.9M | ||||||||
| Vail Resorts IncCOM · shares +4.9% · price −3.4% | 2.0% | $647.2M | −$21.5M | ||||||||
| SpotifySHS · shares +32% · price −16.5% | 1.9% | $639.9M | −$95.5M | ||||||||
| ShopifyCL A SUB VTG SHS · shares +106% · price −26.3% | 1.7% | $559.7M | −$96.9M | ||||||||
| NvidiaCOM · shares −2.3% · price −6.5% | 1.5% | $509.2M | −$35.3M | ||||||||
| Verisk AnalyticsCOM · shares +93% · price −15.2% | 1.4% | $476.6M | −$44.2M | ||||||||
| Birkenstock Holding PlcCOM SHS · shares +18% · price −12.4% | 1.0% | $335.6M | −$40.4M | ||||||||
| On Hldg AgNAMEN AKT A · shares +80% · price −26.8% | 1.00% | $330.5M | −$67.4M | ||||||||
| VertivCOM CL A · shares −24% · price +54.7% | 0.89% | $296.0M | +$104.6M | ||||||||
| Siteone Landscape Supply IncCOM · shares +1.5% · price +6.9% | 0.83% | $274.1M | +$17.3M | ||||||||
| Interactive BrokersCOM CL A · shares −13% · price +4.3% | 0.82% | $271.5M | +$11.2M | ||||||||
| AmazonCOM · shares +5.7% · price −9.8% | 0.81% | $269.6M | −$27.6M | ||||||||
| Total · 326 positions | 100% | $33.13B | −$4.02B |
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 2025 to Q1 2026: 290 stocks held throughout, down $4.02B (−12.0%).
- Figs Inc+$204.5M+30%
- Vertiv+$104.6M+55%
- Choice Hotels Intl Inc+$60.9M+9%
- Quanta Services+$41.4M+30%
- Equinix+$31.1M+28%
- FactSet−$211.5M−25%
- Guidewire Software−$264.8M−26%
- Gartner−$395.8M−37%
- CoStar Group−$438.9M−40%
- Tesla−$930.0M−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 ↗ |