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Tracking Ron Baron's BAMCO Portfolio - Q1 2020 Update

John Vincent profile picture
John Vincent


  • BAMCO’s 13F portfolio decreased from $26.19B to $20.41B this quarter.
  • Ron Baron increased GDS Holdings while reducing Zillow.
  • Their top five positions are at ~21% of the overall portfolio.

This article is part of a series that provides an ongoing analysis of the changes made to BAMCO Inc.’s 13F stock portfolio on a quarterly basis. It is based on Ron Baron’s regulatory 13F Form filed on 05/15/2020. The 13F portfolio value decreased ~22% from $26.19B to $20.41B this quarter. The holdings are diversified with recent 13F reports showing around 350 positions. There are 54 securities that are significantly large (more than ~0.5% of the portfolio each) and they are the focus of this article. The largest five stakes are CoStar Group, IDEXX Labs, Tesla Motors, FactSet Research, and Vail Resorts. They add up to 20.50% of the portfolio. Please visit our Tracking Ron Baron’s BAMCO Portfolio series to get an idea of their investment philosophy and the fund’s moves during Q4 2019.

Baron Capital currently has ~$30B under management. The assets are distributed among several mutual funds with the common theme of long-term research-driven growth investment solutions. Their flag ship mutual funds are Barron Asset Fund (MUTF:BARIX) incepted in 1987 and Baron Partners Fund (MUTF:BPTIX) incepted in 1992. Both funds have produced significant alpha over their lifetimes – 11.17% annualized for Baron Asset Fund compared to 9.52% & 9.17% respectively for the Russell Midcap Growth & S&P 500 Indexes respectively and 12.34% annualized for Baron Partners Fund compared to 9.09% & 8.95% respectively for the Russell Midcap Growth & S&P 500 Indexes. The other funds in the group are Baron Discovery Fund (BDFIX), Baron Growth Fund (BGRIX), Baron Small Cap Fund (BSFIX), Baron Focused Growth Fund (BFGIX), Baron Durable Advantage Fund (BDAIX), Baron Fifth Avenue Growth Fund (BFTIX), Baron Opportunity Fund (BIOIX), Baron Emerging Markets Fund (BEXIX), Baron Global Advantage

This article was written by

John Vincent profile picture
Focused on analyzing 13F reports & building tools to help DIY investors generate absolute returns through exploiting inefficiency, volatility, and momentum.

Analyst’s Disclosure: I am/we are long AMZN. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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