Baron FinTech Fund
BFINX
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- Baron FinTech Fund (BFINX) is an open-end equity mutual fund that seeks capital appreciation by investing primarily in securities of companies engaged in developing, using, or relying on innovative technologies or services for financial sectors including banking, lending, capital markets, financial data analytics, insurance, payments, asset management, and wealth management. The fund allocates at least 80% of its net assets to such equities across all market capitalizations, with principal exposure to U.S. securities and up to 35% in non-U.S. securities; key holdings include Visa Inc., S&P Global Inc., Mastercard Incorporated, MercadoLibre Inc., Robinhood Markets Inc., Guidewire Software Inc., Interactive Brokers Group Inc., Intuit Inc., LPL Financial Holdings Inc., and KKR & Co. Inc., representing approximately 40.9% of the portfolio as of October 31, 2025. It operates within the technology and financial services sectors, targeting growth-oriented firms with sector weights of 69.3% financials, 17.6% information technology, 4.5% industrials, and 4.3% consumer discretionary as of October 31, 2025. Launched on December 31, 2019, and managed by BAMCO, Inc., a subsidiary of Baron Capital Group, Inc., the fund is headquartered in the United States with net assets of $71.05 million as of September 30, 2025; it maintains a diversified portfolio of 46 issuers comprising 98.5% of net assets, low turnover of 14.49% (three-year average), and an active share of 87.7%. In recent activity, the fund added one new position in the second quarter of 2025 amid performance that trailed the FactSet Global FinTech Index, while making minor portfolio adjustments; notable contributors included Robinhood Markets Inc., which announced new crypto-related products such as tokenized trading of U.S. stocks and private assets. The fund continues to emphasize long-term growth through holdings like Guidewire Software Inc., which benefits from ongoing cloud transition and M&A activity in vertical software, and Interactive Brokers Group Inc., expanding via international growth and advisor migrations. As of April 30, 2025, the net expense ratio stands at 1.6%, with performance since inception annualized at 10.84% through September 30, 2025, outperforming the FactSet Global FinTech Index.