Ron Baron

Ron Baron

Last Update: 05-15-2015

Number of Stocks: 359
Number of New Stocks: 23

Total Value: $25,847 Mil
Q/Q Turnover: 4%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Ron Baron Watch

  • Sterne Agee Analyst Sees 20% upside for CarMax

    Sterne Agee analyst Ali Faghri recently initiated coverage on CarMax (KMX) with a Buy rating and a price target of $87.00, which implies 20% upside from the current levels. Calling CarMax "only game in town," analyst Ali Faghri wrote,


  • Ron Baron's Baron Funds 1st Quarter Commentary

    “Nothing is written.” Peter O’Toole. Lawrence of Arabia. 1962.



  • Guru Stocks at 52-Week Lows: PG, BABA, AXP, DEO, RBS

    According to GuruFocus list of 52-week lows, these Guru stocks have reached their 52-week lows.

    Procter & Gamble Co reached the 52-week low of $80.35


  • Weekly Guru Bargains Highlights: SBUX, BABA, PBR.A, EC, NOV

    According to GuruFocus updates, these stocks have declined the most since Gurus have bought.

    Starbucks Corp: Down 35% since Jim Simons (Trades, Portfolio) bought in the quarter ended on 2014-12-31


  • Weekly 3-Year Low Highlights: SNH, SSYS, GOV, LL

    According to GuruFocus list of 3-year lows, Senior Housing Properties Trust, Stratasys Ltd, Government Properties Income Trust, and Lumber Liquidators Holdings Inc. have all reached their 3-year lows.

    Senior Housing Properties Trust (SNH) Reached $20.50


  • Ron Baron Bought 2.52% of Inovalon Holding Inc.

    Ron Baron (Trades, Portfolio) 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.

    His portfolio is composed of 361 stocks with a total value of $24,949 million and a 3% Q/Q turnover.


  • Fossil: Catching a Break, or Catching a Knife?

    It’s a fine company with a once-impressive string of earnings reports; earnings that not only grew, but grew consistently. And, its watches look good, too!

    Fossil Group, Inc. (FOSL) has fallen on harder times lately, most recently in February 2015 when it warned earnings for this year and next year would fail to match the level of those in 2014. To make the future even more interesting, Apple (AAPL) has finally brought out its Watch, which some say could be a category killer (although they’ve been vague on which category).


  • CarMax: Secular Growth to Continue

    Carmax (KMX) recently reported strong Q4 results with its EPS of $0.67 coming well ahead of consensus estimates. Summarizing the results Stifel’s analyst James Albertine highlighted the following key metrics:


  • Vanguard Health Care Fund's Undervalued Stocks

    Vanguard Health Care Fund is managed by Edward Owens that has worked in investment management for over 30 years. He has managed the Vanguard Health Care Fund (Trades, Portfolio) since its inception in May 1984. Owens received a B.A. from the University of Virginia and an M.B.A from Harvard Business School.

    Owens invests primarily in health care companies (94.6% of Stocks are from that sector). His strategy is characterized by a long-term focus and careful attention to valuations.


  • Analyzing Ron Baron's Top Picks: Dick's Sporting Goods

    Ron Baron (Trades, Portfolio) 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 (Trades, Portfolio) 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.


  • John Griffin Acquires Stake in Mobileye

    Mobileye (MBLY), a technology company that is based in the Netherlands with a research and development center in Jerusalem, is something of an enigma for investors.

    Mobileye specializes in cutting-edge automotive technology. Its products are designed to help prevent auto collisions or lessen their severity when they can’t be avoided. The nature of the business means the products it chooses to promote tend to be big hits or big misses. Sometimes they pay off. Sometimes they don’t. The stock price fluctuates – it is up one quarter, down the next.


  • Baron Opportunity Fund Fourth Quarter 2014 Commentary

    Baron Opportunity Fund had a modest fourth quarter, gaining 3.56%, but trailing both the Russell Midcap Growth Index, which rose 5.84%, and the large-cap S&P 500 Index, which increased 4.93%.

    Review & Outlook As I’ve written in past letters, 2014 was a challenging year for the Baron Opportunity Fund. Performance was not up to our (and my) historical standards. When the market turned in mid-March, we were a top decile fund against our peer group for the prior 5- and 10-year periods (according to Morningstar data).* But the Fund trailed the market averages materially last year. As I detailed throughout the year, the market environment presented a significant headwind to the Fund’s consistent strategy of investing in high growth, innovative businesses, and, with the clarity of 20/20 hindsight, we made some missteps of our own. For those investors who continue to place their trust in us, I want to personally thank you for your support and patience. It is our aim to prove 2014 the anomaly I believe it was.


  • Baron Funds Comments on TerraForm Power Inc

    During the quarter, we re-initiated a position in TerraForm Power, Inc. (TERP), a dividend growth-oriented company formed to own and operate contracted clean power generation assets acquired from parent company SunEdison, the third largest worldwide solar energy developer. The company is a part of a new class of investments, known as a “yieldcos,” which are similar to traditional energy master limited partnerships. These “yieldco” businesses are comprised of long-lived assets contracted with creditworthy counterparties, stable cash flows, favorable tax attributes, and predictable growth driven by assets “dropped down” by the parent company due to the yieldco’s lower cost of capital. During the quarter, the companies announced a transformational acquisition to acquire First Wind for $2.4 billion, which serves to diversify the platform into wind energy as well as accelerate its growth. With 24% CAGR in dividend per share now expected through 2019, we think TerraForm is an attractive total return investment in the rapidly growing global renewable energy sector. (Rebecca Ellin)

    From Ron Baron (Trades, Portfolio)’s Baron Focused Growth Fund Q4 2014 Quarterly Report.  

  • Baron Funds Comments on Financial Engines Inc

    Shares of Financial Engines, Inc. (FNGN), a service provider to defined contribution plans and individual investors, have declined by approximately 50% from their peak in early 2014.The Fund took advantage of low share prices to add to the position it established in the previous quarter. The stock remained weak in the fourth quarter following an unexpected management change. The new CEO has substantial operating and marketing experience, and has worked for Financial Engines since 2001. Accordingly, we think this change could be a positive and our long-term investment premise still holds. Financial Engines is the dominant player in a $5 trillion defined contribution retirement market. The company currently has contracts encompassing approximately $1 trillion in plan assets and manages over $100 billion. We believe there is significant potential to increase both figures through increased sales to plan sponsors, improved marketing to plan participants and broadened product offerings. Additionally, we believe the company can eventually use its expertise to service the IRA and defined benefit market, each with an additional $5 trillion in assets. We believe Financial Engines’ essential advice offering and plan connectivity advantage should result in significant client growth and a profitable recurring revenue stream. (Michael Baron)

    From Ron Baron (Trades, Portfolio)’s Baron Focused Growth Fund Q4 2014 Quarterly Report.  

  • Baron Funds Comments on Pinnacle Entertainment Inc

    Shares of Pinnacle Entertainment, Inc. (PNK), a regional casino company, declined in the fourth quarter after the company announced it would start the process of converting to a REIT and spinning off its real estate assets. Investors grew cautious ahead of a proposed equity offering that Pinnacle is planning for mid-2015 to help reduce its debt. The Fund exited its position in Pinnacle. (David Baron)

    From Ron Baron (Trades, Portfolio)’s Baron Focused Growth Fund Q4 2014 Quarterly Report.  

  • Baron Funds Comments on Colfax Corp

    Shares of global industrial machinery company Colfax Corp. (CFX) fell in the fourth quarter on reports of weaker-than-expected third quarter earnings and below-consensus 2015 guidance. Shares also declined as the market rotated out of companies such as Colfax with exposure to falling oil and gas pricing, slowing international markets, and headwinds from foreign exchange exposure. We believe Colfax will use its proven business system to improve operations of acquired companies, which we believe will generate substantial shareholder value over time. (Rebecca Ellin)

    From Ron Baron (Trades, Portfolio)’s Baron Focused Growth Fund Q4 2014 Quarterly Report.  

  • Baron Funds Comments on CaesarStone Sdot-Yam Ltd

    CaesarStone Sdot-Yam Ltd. (CSTE) saw its stock price rise in the fourth quarter. CaesarStone is a leading global manufacturer of quartz surfaces for kitchens and bathrooms. Performance was driven by a strong earnings beat for the third quarter and management’s rosy outlook, as earnings growth continues to accelerate from successful new product launches and quartz market share gains vs. other countertop materials, such as granite and marble. (David Kirshenbaum)

    From Ron Baron (Trades, Portfolio)’s Baron Focused Growth Fund Q4 2014 Quarterly Report.  

  • Ron Baron’s Baron Focused Growth Fund Q4 2014 Quarterly Report

    Dear Baron Focused Growth Fund Shareholder:



  • Baron Funds Comments on Zillow Inc

    We initiated a position in Zillow Inc. (Z) in the quarter. Zillow is the leading online real estate site in the U.S., offering information on homes for sale and rent, in addition to the Zillow Mortgage Marketplace. The company also owns and operates Street Easy, the leading real estate site for New York City. Zillow continues to invest in its brand as the leader in an $8 billion real estate advertising market. The company is merging with number two player Trulia, pending FTC approval. With the transition to online and mobile, we believe Zillow is well positioned to grow meaningfully from the 4% share it has today, and will generate meaningfully more revenue, cash flow, and shareholder value over the next several years. (Ashim Mehra)

    From Ron Baron (Trades, Portfolio)'s Baron Partners Fund Fourth Quarter 2014 Commentary.  

  • Baron Funds Comments on Air Lease Corp

    Air Lease Corp. (AL) leases commercial aircraft to airlines around the world. Air Lease owns 221 planes, with 372 new planes worth about $29 billion on order. This is in anticipation of increased demand from U.S. and European airlines for more fuel-efficient models to replace their aging fleets, and the need for more lift in emerging markets. Aircraft demand remains strong, led by passenger traffic growth (up 5.8% through November 2014) and healthy customer profit margins. Revenues (+24% through the third quarter of 2014) and EPS (+41%) are growing as its fleet builds. Air Lease has greater than 65% of leases placed through 2016, providing predictable cash flows, and a well-capitalized balance sheet to generate a long “runway” of profitable growth. We believe Air Lease is trading cheaply compared to its potential earnings power. (David Goldsmith)

    From Ron Baron (Trades, Portfolio)'s Baron Partners Fund Fourth Quarter 2014 Commentary.  

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