Baron Discovery Fund Retail Shares
BDFFX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 767 Fifth Ave New York NY United States of America 10153
- IPO Date
- Oct 3, 2013
- CIK
- 0000810902
- Website
- baroncapitalgroup.com
- Similar Companies
- Business
- Baron Discovery Fund Retail Shares (BDFFX) is an actively managed open-end mutual fund that seeks long-term capital appreciation through investments primarily in equity securities of small-sized U.S. growth companies, generally with market capitalizations under $8 billion at acquisition and in early stages of their life cycles; the fund maintains a concentrated portfolio of 50 to 60 high-conviction holdings with a high active share of approximately 95% relative to the Russell 2000 Growth Index benchmark. Core offerings include retail shares (BDFFX) with a net expense ratio of 1.32%, alongside institutional shares (BDFIX), targeting institutions, financial advisors, and individual investors with a minimum initial investment of $2,000; the portfolio emphasizes sectors such as information technology (31.6%), health care (24.0%), industrials (16.4%), and consumer discretionary (13.9%), with top holdings encompassing Exact Sciences Corporation (cancer diagnostics), Liberty Media Corporation (live entertainment exposure), DraftKings Inc. (online sports betting and gaming), Loar Holdings Inc. (aerospace components), and Dynatrace, Inc. (application performance monitoring). Managed since inception by Laird Bieger and Randolph Gwirtzman, who together bring over 50 years of investment experience, the fund was launched on September 30, 2013, by Baron Capital Management, Inc., headquartered at 767 Fifth Avenue, New York, New York, with total net assets of approximately $1.90 billion as of late 2025. In recent portfolio activity during 2025, the fund established new positions in Primo Brands Corporation, Birkenstock Holdings plc, Netskope, Inc., Badger Meter, Inc., AAON, Inc., and Wynn Resorts, Limited, while trimming holdings in CyberArk Software Ltd. and Kratos Defense & Security Solutions, Inc., reflecting strategic adjustments amid strong sector tailwinds in applied AI, cybersecurity, unmanned aerospace, and advanced diagnostics; year-to-date through Q3 2025, BDFFX delivered a 10.56% return, closely tracking the Russell 2000 Growth benchmark, supported by contributors like Kratos Defense, Mercury Systems, and Karman Holdings. On a broader firm level, Baron Capital marked the fund's 10-year anniversary in early 2025 and launched five active ETFs in December 2025, including Baron Technology ETF (BCTK), extending its growth equity strategies beyond mutual funds, though these do not directly impact BDFFX operations. The fund operates exclusively in U.S. markets, with minor non-U.S. stock exposure (5.26%), and focuses on long-term compounding through businesses exhibiting sustainable competitive advantages and robust earnings growth forecasts of 19.3% over 3-5 years.