
	Ron Baron 13F
	Baron Funds

	Last update 2024-11-14	328 Stocks (18 new)
	Value $37.70 Bil	Turnover 3 %
	Countries: Top Holdings: TSLA(10.36%)ACGL(6.15%)IT(5.41%)CSGP(3.76%)MSCI(3.34%) Portfolio Report

Ron Baron Profile

Ron Baron is the founder of Baron Capital Management. He is Co-Portfolio Manager of Baron Asset Fund and remains Portfolio Manager of the Growth and Partners Funds. Baron graduated from Bucknell University with a B.A. in Chemistry, and later attended George Washington University Law School in the evenings.

Ron Baron Investing Philosophy

Ron Baron invests primarily in small and mid-size growth companies. He likes companies with open-ended growth opportunities and defensible niches. He applies a bottom-up company research, invests for the long-term, and tries to purchase companies at what he believes are attractive prices. He invests in growth companies using a value-oriented purchase discipline. Baron ignores short-term market fluctuations when he believes the fundamental reasons for purchasing a company have not changed. He holds investments for longer than five years on average.

Ron Baron Portfolio and Latest Trades

Ticker
Ticker
TSLA
SPOT
BIRK
VAC
PENN
TSLA
BYD
TSLA
TSM
TSM
VAC
IDXX
BABA
NVDA
WST
TOL
IT
INTA
VRT
IT
IRDM
VRT
ANSS
IT
IT
VNO
PDD
PDD
GTLS
FDS
AMT
AXNX
GDS
TSM
AVB
AAPL
SBAC
AMZN
LVS
ONON
BIDU
EQR
IDXX
WYNN
CZR
ZI
ARGX
KNSL
NVDA
CRWD
WYNN
PLD
WST
SCHW
EQR
MASI
AMT
SPOT
SSNC
IBP
DXCM
MRNA
AXNX
FND
MRNA
MTN
NVDA
SCHW
PGNY
FND
DNUT
IT
EQIX
TOL
TSM
TRU
CZR
AMT
MTN
DEI
SBAC
BN
MLM
IBTA
TME
RRR
FIS
TREX
FOXF
MGM
NEOG
PWR
RGEN
BABA
VRSN
VMC
CSGP
BLDR
BN
ILMN

Ticker	Company	Date	Action	Impact %	Price Range	Price	Price Change from Avrg%	Comment	Current Shares	Share Change
Ticker	Company	Date	Action	Impact %	Price Range	Price	Price Change from Avrg%	Comment	Current Shares	Share Change
TSLA	Tesla Inc	2024-06-30	Reduce	-0.80%	● 142.05 ($174.77) 197.88	$345.16	97.49%	Reduce -9.88%	15,516,436	-1,701,359
SPOT	Spotify Technology SA	2022-12-31	Reduce	-0.39%	● 71.05 ($80.65) 97.05	$476.96	491.39%	Reduce -79.92%	352,982	-1,404,901
BIRK	Birkenstock Holding PLC	2023-12-31	New Buy	+0.38%	● 36.38 ($43.3) 50.06	$51.66	19.31%	New holding	2,934,001	2,934,001
VAC	Marriott Vacations Worldwide Corp	2023-12-31	Reduce	-0.38%	● 72.9 ($85.33) 99.12	$99.25	16.31%	Reduce -46.96%	1,447,205	-1,281,447
PENN	PENN Entertainment Inc	2024-03-31	Reduce	-0.34%	● 16.6 ($20.65) 25.95	$21.59	4.55%	Reduce -93.13%	353,399	-4,789,345
TSLA	Tesla Inc	2024-09-30	Reduce	-0.33%	● 191.76 ($228.05) 263.26	$345.16	51.35%	Reduce -3.79%	14,928,529	-587,907
BYD	Boyd Gaming Corp	2024-06-30	Reduce	-0.32%	● 50.36 ($57.08) 67.67	$73.85	29.38%	Reduce -94.32%	107,963	-1,791,381
TSLA	Tesla Inc	2024-03-31	Reduce	-0.32%	● 162.5 ($195.37) 248.42	$345.16	76.67%	Reduce -2.77%	17,217,795	-490,694
TSM	Taiwan Semiconductor Manufacturing Co Ltd	2023-09-30	Reduce	-0.30%	● 84.29 ($94.56) 105.57	$184.66	95.28%	Reduce -29.46%	2,569,980	-1,073,460
TSM	Taiwan Semiconductor Manufacturing Co Ltd	2024-03-31	Reduce	-0.30%	● 99.13 ($124.2) 149.2	$184.66	48.68%	Reduce -50.71%	1,066,264	-1,096,791
VAC	Marriott Vacations Worldwide Corp	2024-03-31	Reduce	-0.30%	● 81.79 ($90.3) 107.73	$99.25	9.91%	Reduce -90.22%	141,526	-1,305,679
IDXX	IDEXX Laboratories Inc	2024-03-31	Reduce	-0.29%	● 515.08 ($546.49) 576.87	$421.75	-22.83%	Reduce -8.48%	2,104,951	-195,066
BABA	Alibaba Group Holding Ltd	2023-12-31	Reduce	-0.27%	● 71.37 ($79.68) 87.78	$87.37	9.65%	Reduce -39.02%	1,649,689	-1,055,759
NVDA	NVIDIA Corp	2024-06-30	Reduce	-0.27%	● 76.2 ($101.1) 135.58	$138.25	36.75%	Reduce -24.86%	3,352,471	-1,109,189
WST	West Pharmaceutical Services Inc	2024-09-30	Reduce	-0.26%	● 277.16 ($306.25) 333.3	$325.68	6.34%	Reduce -36.6%	483,842	-279,326
TOL	Toll Brothers Inc	2024-06-30	Reduce	-0.25%	● 112.21 ($121.04) 134.92	$165.17	36.46%	Reduce -39.91%	1,077,864	-715,926
IT	Gartner Inc	2022-12-31	Reduce	-0.24%	● 278.33 ($322.72) 356.27	$517.93	60.49%	Reduce -5.28%	4,898,788	-273,037
INTA	Intapp Inc	2024-03-31	New Buy	+0.24%	● 33.18 ($39.29) 45.09	$62.55	59.20%	New holding	2,583,231	2,583,231
VRT	Vertiv Holdings Co	2024-03-31	Reduce	-0.24%	● 45.57 ($62.83) 82.67	$127.60	103.09%	Reduce -28.15%	4,850,000	-1,900,000
IT	Gartner Inc	2023-12-31	Reduce	-0.23%	● 325.76 ($399.48) 466.05	$517.93	29.65%	Reduce -4.94%	4,426,192	-230,195
IRDM	Iridium Communications Inc	2024-03-31	Reduce	-0.23%	● 25.59 ($32.53) 40.58	$29.72	-8.64%	Reduce -15.09%	11,925,775	-2,120,000
VRT	Vertiv Holdings Co	2024-06-30	Reduce	-0.23%	● 75.01 ($91.04) 106.17	$127.60	40.16%	Reduce -21.65%	3,800,000	-1,050,000
ANSS	Ansys Inc	2024-03-31	Reduce	-0.22%	● 327.42 ($338.5) 357.79	$351.10	3.72%	Reduce -11.62%	1,756,370	-231,030
IT	Gartner Inc	2024-03-31	Reduce	-0.21%	● 425.37 ($460.24) 483.11	$517.93	12.53%	Reduce -3.96%	4,250,733	-175,459
IT	Gartner Inc	2024-09-30	Reduce	-0.21%	● 441.32 ($480.74) 516.47	$517.93	7.74%	Reduce -3.86%	4,022,384	-161,535
VNO	Vornado Realty Trust	2024-09-30	New Buy	+0.20%	● 25.5 ($32.17) 39.4	$43.05	33.82%	New holding	1,912,359	1,912,359
PDD	PDD Holdings Inc	2024-09-30	Reduce	-0.20%	● 89.17 ($122.88) 151.11	$96.56	-21.42%	Reduce -73.75%	185,362	-520,740
PDD	PDD Holdings Inc	2023-12-31	New Buy	+0.20%	● 97.9 ($121.27) 150.09	$96.56	-20.38%	New holding	504,774	504,774
GTLS	Chart Industries Inc	2022-12-31	Add	+0.20%	● 109.04 ($160.62) 239.47	$193.25	20.32%	Add 127.28%	909,214	509,177
FDS	FactSet Research Systems Inc	2024-09-30	Reduce	-0.20%	● 397.04 ($424.67) 469.48	$490.67	15.54%	Reduce -6.58%	2,478,027	-174,443
AMT	American Tower Corp	2024-09-30	Reduce	-0.19%	● 192.27 ($221.73) 242.83	$209.00	-5.74%	Reduce -64.48%	192,717	-349,770
AXNX	Axonics Inc	2024-03-31	Reduce	-0.19%	● 56.67 ($67.47) 69.36	$70.98	5.20%	Reduce -61.81%	686,565	-1,111,398
GDS	GDS Holdings Ltd	2024-09-30	Add	+0.19%	● 9.3 ($14.14) 21.53	$19.69	39.25%	Add 128.55%	6,040,555	3,397,592
TSM	Taiwan Semiconductor Manufacturing Co Ltd	2023-06-30	Reduce	-0.18%	● 82.25 ($93.07) 107.41	$184.66	98.41%	Reduce -14.89%	3,643,440	-637,463
AVB	AvalonBay Communities Inc	2024-06-30	Add	+0.18%	● 178.98 ($193.33) 206.89	$235.35	21.73%	Add 582.86%	347,164	296,324
AAPL	Apple Inc	2024-06-30	Add	+0.18%	● 165 ($186.49) 216.67	$237.33	27.26%	Add 14788.45%	300,300	298,283
SBAC	SBA Communications Corp	2023-03-31	Reduce	-0.18%	● 240.12 ($275.19) 308.09	$226.25	-17.78%	Reduce -25.4%	560,491	-190,805
AMZN	Amazon.com Inc	2022-12-31	Reduce	-0.17%	● 81.82 ($98.78) 121.09	$207.89	110.46%	Reduce -33.54%	955,485	-482,114
LVS	Las Vegas Sands Corp	2022-12-31	Reduce	-0.17%	● 34.77 ($42.43) 48.75	$53.06	25.05%	Reduce -82.93%	282,807	-1,374,112
ONON	On Holding AG	2023-09-30	Add	+0.17%	● 26.06 ($31.65) 36.51	$58.33	84.30%	Add 243.04%	3,028,002	2,145,318
BIDU	Baidu Inc	2023-03-31	Reduce	-0.16%	● 119.13 ($141.83) 160.22	$85.05	-40.03%	Reduce -56.01%	325,255	-414,157
EQR	Equity Residential	2024-06-30	Add	+0.16%	● 59.68 ($65.07) 69.34	$76.66	17.81%	Add 143.05%	1,416,757	833,839
IDXX	IDEXX Laboratories Inc	2024-09-30	Reduce	-0.16%	● 455.08 ($485.8) 517.06	$421.75	-13.18%	Reduce -5.51%	1,923,258	-112,079
WYNN	Wynn Resorts Ltd	2024-09-30	Reduce	-0.16%	● 73.55 ($80.39) 97.62	$94.38	17.40%	Reduce -86.07%	102,516	-633,296
CZR	Caesars Entertainment Inc	2024-09-30	New Buy	+0.16%	● 33.2 ($37.5) 41.74	$38.49	2.64%	New holding	1,482,755	1,482,755
ZI	ZoomInfo Technologies Inc	2023-09-30	Reduce	-0.15%	● 15.73 ($20.44) 28.95	$10.94	-46.48%	Reduce -66.44%	1,065,834	-2,110,236
ARGX	argenx SE	2023-03-31	Reduce	-0.15%	● 334.23 ($370.17) 403.65	$616.55	66.56%	Reduce -31.66%	248,955	-115,331
KNSL	Kinsale Capital Group Inc	2024-06-30	Reduce	-0.15%	● 358 ($405.98) 512.65	$508.44	25.24%	Reduce -5.46%	1,816,122	-104,798
NVDA	NVIDIA Corp	2024-03-31	Reduce	-0.15%	● 47.57 ($72.48) 95	$138.25	90.74%	Reduce -19.88%	4,461,660	-110,715
CRWD	CrowdStrike Holdings Inc	2024-09-30	Reduce	-0.15%	● 217.89 ($284.07) 392.15	$345.97	21.79%	Reduce -50.37%	133,345	-135,352
WYNN	Wynn Resorts Ltd	2023-03-31	New Buy	+0.14%	● 85.61 ($104.59) 115.83	$94.38	-9.76%	New holding	419,413	419,413
PLD	Prologis Inc	2024-06-30	Reduce	-0.14%	● 101.88 ($110.77) 127.92	$116.78	5.43%	Reduce -44.85%	497,301	-404,359
WST	West Pharmaceutical Services Inc	2024-06-30	Reduce	-0.14%	● 314.68 ($353.4) 395.94	$325.68	-7.84%	Reduce -14.44%	763,168	-128,777
SCHW	Charles Schwab Corp	2023-03-31	Add	+0.14%	● 51.91 ($73.23) 85.62	$82.76	13.01%	Add 13.63%	7,630,034	915,388
EQR	Equity Residential	2024-09-30	Reduce	-0.14%	● 67.19 ($72.22) 78.08	$76.66	6.15%	Reduce -51.42%	688,198	-728,559
MASI	Masimo Corp	2024-03-31	New Buy	+0.14%	● 109.17 ($129.12) 146.85	$172.54	33.63%	New holding	345,800	345,800
AMT	American Tower Corp	2023-12-31	Add	+0.14%	● 157.68 ($188.99) 217.16	$209.00	10.59%	Add 497.05%	292,913	243,853
SPOT	Spotify Technology SA	2024-03-31	Add	+0.13%	● 187.94 ($234.88) 270.35	$476.96	103.07%	Add 28.34%	864,584	190,931
SSNC	SS&C Technologies Holdings Inc	2022-12-31	Reduce	-0.13%	● 46.46 ($50.68) 54.12	$77.34	52.60%	Reduce -42.17%	1,198,769	-874,150
IBP	Installed Building Products Inc	2023-03-31	Reduce	-0.13%	● 87.76 ($107.74) 120.83	$228.74	112.31%	Reduce -35.31%	823,210	-449,262
DXCM	DexCom Inc	2024-09-30	Reduce	-0.13%	● 64 ($82.12) 116.06	$77.99	-5.03%	Reduce -41.56%	564,854	-401,618
MRNA	Moderna Inc	2023-09-30	Add	+0.13%	● 96.41 ($111.55) 126.61	$43.06	-61.40%	Add 4863.59%	426,869	418,269
AXNX	Axonics Inc	2024-06-30	Sold Out	-0.13%	● 66.47 ($67.36) 69.65	$70.98	5.37%	Sold Out	0	-686,565
FND	Floor & Decor Holdings Inc	2024-03-31	Reduce	-0.13%	● 100.56 ($113.54) 133.75	$112.21	-1.17%	Reduce -18.84%	1,832,533	-425,360
MRNA	Moderna Inc	2023-12-31	Reduce	-0.13%	● 69.51 ($84.11) 104.43	$43.06	-48.81%	Reduce -98.24%	7,500	-419,369
MTN	Vail Resorts Inc	2024-06-30	Add	+0.13%	● 173.94 ($198.87) 232.25	$179.24	-9.87%	Add 5.29%	5,048,808	253,521
NVDA	NVIDIA Corp	2024-09-30	Reduce	-0.13%	● 98.91 ($118.12) 134.91	$138.25	17.04%	Reduce -10.71%	2,993,580	-358,891
SCHW	Charles Schwab Corp	2024-03-31	Reduce	-0.13%	● 61.89 ($65.86) 72.38	$82.76	25.66%	Reduce -8.56%	7,432,213	-695,325
PGNY	Progyny Inc	2023-03-31	Sold Out	-0.12%	● 28.16 ($33.03) 38.23	$15.57	-52.86%	Sold Out	0	-1,163,928
FND	Floor & Decor Holdings Inc	2024-09-30	Reduce	-0.12%	● 89.87 ($103.96) 124.17	$112.21	7.94%	Reduce -25.36%	1,252,755	-425,729
DNUT	Krispy Kreme Inc	2023-09-30	Add	+0.12%	● 12.35 ($13.97) 15.95	$11.02	-21.12%	Add 59.5%	9,221,657	3,439,948
IT	Gartner Inc	2023-03-31	Reduce	-0.12%	● 302.49 ($330.57) 352.89	$517.93	56.68%	Reduce -2.09%	4,796,458	-102,330
EQIX	Equinix Inc	2024-09-30	Add	+0.12%	● 749 ($819.02) 890.01	$981.48	19.84%	Add 26.63%	242,133	50,913
TOL	Toll Brothers Inc	2022-12-31	Add	+0.12%	● 40.28 ($45.99) 51.38	$165.17	259.14%	Add 128.41%	1,264,403	710,826
TSM	Taiwan Semiconductor Manufacturing Co Ltd	2023-03-31	Add	+0.12%	● 74.03 ($89.76) 97.96	$184.66	105.73%	Add 11.27%	4,280,903	433,498
TRU	TransUnion	2023-12-31	Reduce	-0.12%	● 43.3 ($60.89) 72.01	$101.50	66.69%	Reduce -36.66%	1,002,672	-580,254
CZR	Caesars Entertainment Inc	2023-03-31	New Buy	+0.12%	● 42.09 ($49.01) 54.99	$38.49	-21.47%	New holding	833,301	833,301
AMT	American Tower Corp	2024-06-30	Add	+0.12%	● 171 ($186.91) 200.41	$209.00	11.82%	Add 66.49%	542,487	216,655
MTN	Vail Resorts Inc	2023-12-31	Add	+0.11%	● 206.52 ($219.12) 230.16	$179.24	-18.20%	Add 4.21%	4,920,015	198,801
DEI	Douglas Emmett Inc	2023-03-31	Add	+0.11%	● 10.84 ($14.51) 17.7	$19.36	33.43%	Add 53.57%	8,272,165	2,885,603
SBAC	SBA Communications Corp	2023-12-31	Reduce	-0.11%	● 189.44 ($224.52) 254.25	$226.25	0.77%	Reduce -53.62%	165,459	-191,257
BN	Brookfield Corp	2023-09-30	Reduce	-0.11%	● 31.27 ($33.79) 36.1	$61.39	81.68%	Reduce -35.87%	2,128,697	-1,190,644
MLM	Martin Marietta Materials Inc	2024-06-30	New Buy	+0.11%	● 534.99 ($581.17) 621.53	$600.00	3.24%	New holding	69,085	69,085
IBTA	Ibotta Inc	2024-06-30	New Buy	+0.11%	● 66.57 ($93.18) 109.9	$73.14	-21.51%	New holding	517,112	517,112
TME	Tencent Music Entertainment Group	2024-03-31	New Buy	+0.11%	● 8.42 ($9.81) 11.69	$11.41	16.31%	New holding	3,651,224	3,651,224
RRR	Red Rock Resorts Inc	2023-09-30	Add	+0.11%	● 40.23 ($45.21) 50.83	$50.09	10.79%	Add 10.83%	9,856,963	962,841
FIS	Fidelity National Information Services Inc	2023-03-31	Reduce	-0.11%	● 49.7 ($65.09) 77.81	$85.30	31.05%	Reduce -89.35%	56,972	-477,935
TREX	Trex Co Inc	2023-03-31	Reduce	-0.11%	● 43.7 ($50.58) 57.56	$75.03	48.34%	Reduce -22.49%	2,722,862	-790,063
FOXF	Fox Factory Holding Corp	2023-12-31	Add	+0.11%	● 55.02 ($72.96) 97.8	$32.48	-55.48%	Add 227.27%	900,000	625,000
MGM	MGM Resorts International	2024-06-30	Reduce	-0.11%	● 38.53 ($41.8) 47.78	$38.34	-8.28%	Reduce -40.68%	1,246,347	-854,718
NEOG	Neogen Corp	2022-12-31	Add	+0.11%	● 10.79 ($14.24) 16.56	$14.18	-0.42%	Add 132.32%	3,968,412	2,260,278
PWR	Quanta Services Inc	2023-03-31	New Buy	+0.11%	● 135.57 ($153.75) 166.64	$344.52	124.08%	New holding	216,686	216,686
RGEN	Repligen Corp	2023-03-31	Add	+0.11%	● 154.26 ($178.42) 198.1	$150.54	-15.63%	Add 2469.47%	220,974	212,374
BABA	Alibaba Group Holding Ltd	2023-06-30	Add	+0.11%	● 78.67 ($87.76) 102.74	$87.37	-0.44%	Add 20.36%	2,710,165	458,517
VRSN	VeriSign Inc	2024-03-31	Reduce	-0.10%	● 187.1 ($196.51) 206.35	$187.18	-4.75%	Reduce -32.72%	386,380	-187,894
VMC	Vulcan Materials Co	2024-06-30	Add	+0.10%	● 244.64 ($258.41) 272.07	$288.13	11.50%	Add 109.29%	264,703	138,229
CSGP	CoStar Group Inc	2024-09-30	Reduce	-0.10%	● 71.59 ($75.84) 79.61	$81.34	7.25%	Reduce -2.52%	18,785,436	-485,562
BLDR	Builders FirstSource Inc	2024-09-30	New Buy	+0.10%	● 132.6 ($165.82) 201.83	$186.47	12.45%	New holding	187,444	187,444
BN	Brookfield Corp	2024-09-30	Add	+0.10%	● 40.93 ($47.34) 53.42	$61.39	29.68%	Add 62.63%	1,949,472	750,726
ILMN	Illumina Inc	2023-09-30	Reduce	-0.10%	● 128.91 ($169.02) 192.44	$144.15	-14.71%	Reduce -48.87%	210,010	-200,733

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