Ron Baron

Ron Baron

Last Update: 09-12-2016

Number of Stocks: 301
Number of New Stocks: 22

Total Value: $18,810 Mil
Q/Q Turnover: 5%

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

Ron Baron Watch

  • Baron Funds Comments on MonotaRO Co. Ltd.

    We currently own MonotaRO Co. Ltd. (TSE:3064) within the Industrials sector. Japan-based MonotaRO is an online distributor of machine tools, engine parts, and consumables for maintenance, repair, and operations (MRO) activity in Japan and is a strategic supply chain partner to Japanese businesses. U.S.-based W.W. Grainger is the company’s majority owner. Its online business model avoids the fixed costs of store-based competitors and allows it to pass on cost savings to its customers. We expect MonotaRO to continue to grow its share of the Japanese MRO segment and expand and compete in other large markets such as Korea.


    From Baron Funds' Second Quarter Insight: Finding Growth in Industrials.

      


  • Baron Funds Comments on SiteOne Landscape Supply

    We are also invested in SiteOne Landscape Supply, Inc. (NYSE:SITE), the largest wholesale distributor of landscape supplies in the U.S. The company operates a network of 477 branches in 44 states, offering a broad selection of products, including irrigation equipment, fertilizer, nursery goods, hardscapes and outdoor lighting. SiteOne is the market leader in an attractive industry with exposure to an improving market, and is also benefiting as increasing numbers of home owners treat outdoor space as an extension of their living space, with increasing investment in patios, decks and yards. The company is experiencing accelerated growth, yet with less than 10% of a fragmented market, we see significant potential for consolidation opportunities and accretive deals.


    Internationally, we favor distributors that we think are positioned to leverage the increasing globalization of the supply and distribution chain to their benefit. As this chain expands across countries and even continents, superior handling of the logistics can provide a key competitive advantage.

      


  • Baron Funds Comments on Fastenal Co.

    Fastenal Co. (NASDAQ:FAST) is a leading distributor of nuts, bolts, and threaded fasteners to manufacturers and contractors throughout North America. Since expanding its inventory mix over the last decade, Fastenal has taken market share from competitors as customers increasingly select the company as their exclusive supplier. Still, Fastenal has just 3% share of the large and fragmented industrial supplies space, leaving considerable room for expansion. The company’s recent vending initiative has grown to 50,000 automated machines directly embedded within customer facilities. These machines dispense frequently consumed products such as gloves and safety glasses directly at the point of use, an industry innovation that has helped Fastenal generate greater savings and accountability for customers, while driving industry-leading sales growth for itself.


    From Baron Funds' Second Quarter Insight: Finding Growth in Industrials.

      


  • Baron Funds Comments on Manitowoc Foodservice

    We invested in Manitowoc Foodservice, Inc. (NYSE:MFS), after its March 4, 2016 spinoff from its parent company, a restructuring designed to unlock the value of the parent’s less cyclical foodservice equipment business from its highly cyclical crane business. Like Middleby, Manitowoc is focused mainly on commercial and institutional foodservice operators, with leading positions in more than half of its brands. It manufactures and distributes an integrated portfolio of hot and cold category products and supplies. We believe the spinoff will allow Manitowoc’s new management team to focus exclusively on the core food equipment business and lift margins to industry levels through organic growth and restructuring. In addition, we think opportunity exists for Manitowoc to consolidate a fragmented industry.


    From Baron Funds' Second Quarter Insight: Finding Growth in Industrials.

      


  • Baron Funds Comments on The Middleby Corp

    We are invested in two foodservice equipment companies that we believe are well positioned to profit from the world’s evolving eating habits. The Middleby Corp. (NASDAQ:MIDD) manufactures cooking and warming equipment for commercial restaurants and institutional kitchens, as well as food processing and residential kitchen equipment. Middleby’s top-tier brands enjoy leading market positions. The company uses technological innovations to design and manufacture differentiated equipment for which customers are willing to pay a premium. It has a history of acquiring leading brands and technologies, including Viking Range, AGA Rangemaster Group plc, and most recently, Lynx Grills, and using its business expertise to improve their financial performance. Since 2001, Middleby has been led by Selim Bassoul, a passionate manager with a highly regarded leadership style who is widely credited with turning the company around.


    From Baron Funds' Second Quarter Insight: Finding Growth in Industrials.

      


  • Baron Funds Comments on Acuity Brands

    We are also invested in Acuity Brands, Inc. (NYSE:AYI), North America’s leading provider of innovative lighting systems. With solid brands and an extensive agency network, we believe Acuity stands to benefit from secular demand for more energy-efficient lighting, generated by government regulations and tax savings in the near term and significant cost savings in the long term. Acuity services the commercial real estate construction industry, and with lighting comprising 21% of energy use in commercial buildings, we see additional potential growth driven by the trend toward “smart” buildings and cities, and the retrofit opportunity for older, less efficient structures.


    From Baron Funds' Second Quarter Insight: Finding Growth in Industrials.

      


  • Baron Funds 2nd Quarter Insight: Finding Growth in Industrials

    In Modern Times, Charlie Chaplin’s masterful 1936 comedy, industrialization was depicted as synonymous with modernity, and, in many ways, at the time it was. In the years that followed, however, the U.S. economy gradually evolved. As seen in the chart below, manufacturing as a percentage of overall GDP has steadily declined over the decades, and currently stands at about 11% today.

      


  • Ron Baron Boosts Position in Inovalon

    Ron Baron (Trades, Portfolio) of Baron Funds further increased his position in Inovalon Holdings Inc. (NASDAQ:INOV) by 12.35% on Aug. 31.


    Baron founded Baron Capital Management in 1982 and serves as CEO, CIO and trustee. He is a co-portfolio manager of Baron Asset Funds and the portfolio manager of the Growth and Partners Funds. He likes to invest in companies with open-ended growth and defensible niches. He applies bottom-up company research, invests for the long term and purchases companies at what he believes are attractive prices. On average, Baron holds investments longer than five years.

      


  • Ron Baron Buys Under Armour in 2nd Quarter

    Ron Baron (Trades, Portfolio), founder of Baron Asset Management and co-portfolio manager of the Baron Partners Fund, invests in companies using a long-term investing approach.


    The fund seeks capital appreciation through focused research on the company’s management and long-term growth opportunities. During the second quarter, Baron took stakes in Under Armour Inc. (NYSE:UA.C), Red Rock Resorts Inc. (NASDAQ:RRR) and MGM Growth Properties LLC (NYSE:MGP). Additionally, the fund manager increased his position in Gaming and Leisure Properties Inc. (NASDAQ:GLPI).

      


  • Baron Funds Comments on BATS Global Markets

    BATS Global Markets, Inc. (BATS) operates financial exchanges and electronic marketplaces for trading equities, options, and foreign currency (“FX”) in the U.S. and Europe. We invested in the company during its IPO in April. We view BATS as a low-cost provider in an attractive industry with numerous growth opportunities.

      


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