Baron Capital Announces 32nd Annual Baron Investment Conference: “Changing Lives”
NEW YORK, NY – October 23, 2025 – Baron Capital, a growth equity investment Firm with a 43-year track record of long-term, fundamental, research-driven investing, today announced the agenda for its 32nd Annual Baron Investment Conference, to be held on Friday, November 14, 2025, at Lincoln Center’s Metropolitan Opera House in New York City.
Renowned as one of the premier gatherings in the asset management industry, the Conference unites more than 5,000 investors from around the world, including Baron Funds shareholders, financial advisors, and institutional clients, for a day of visionary ideas, investment inspiration, and world-class entertainment.
The 2025 conference theme, “Changing Lives,” reflects Baron Capital’s enduring mission: to create wealth that delivers more than financial returns. “At Baron Capital, our mission is simple—to change lives by creating freedom and security,” said Ron Baron, Founder, Chairman, and CEO of Baron Capital. “Wealth is not just numbers on a page, it is education funded, retirements secured, families supported, and communities strengthened. This year’s Conference celebrates that purpose, our values, and the extraordinary leaders with whom we invest who share our belief.”
A High-Powered Agenda:
Attendees will hear directly from the visionary leaders behind some of Baron Capital’s most compelling investments, including:
- A Virtual Fireside Chat with “Starman” Elon Musk and Ron Baron - A candid conversation detailing his vision for the future, space exploration, artificial intelligence, and the next wave of transformative technologies shaping our world.
- Harley Finkelstein, President, Shopify Inc.
- Joe Mansueto, Founder, Former Chairman and CEO, Morningstar, Inc.
- Eugene Hall, Chief Executive Officer, Gartner, Inc.
- Martin Hoffmann, Chief Executive Officer, On Holding AG
In addition, Baron Capital portfolio managers will present updates and perspectives on growth opportunities across real estate, technology, small caps, emerging markets, and more underscoring the Firm’s unique approach to research and long-term investment philosophy.
True to tradition, the day will include surprise lunchtime performances in country pop music, stand-up comedy, and Broadway variety, and will culminate with a surprise musical performance ensuring a memorable close to an event that continues to inspire Baron Capital investors.
All expenses associated with this Conference are paid by Baron Capital. No Conference expenses are paid by Baron Funds’ shareholders. Tesla door prizes are provided by and paid for by Baron Capital.
Learn More About the Conference
Follow Baron Capital on X and LinkedIn for Conference updates.
About Baron Capital
Baron Capital is a research and asset management Firm focused exclusively on delivering growth equity investment solutions to institutions, financial advisors, and individual investors. Since its founding in 1982, Baron Capital has been united under one style of investing with a single objective–to be long-term investors in secular growth businesses with durable competitive advantages, run by great management teams. With $45 billion in assets under management (as of 9/30/2025) across 20 strategies, Baron Capital prides itself on delivering top performance with 96.1% of Baron Funds AUM outperforming their respective benchmarks since inception.
Media Contact
Prosek Partners
(646) 807-9906
[email protected]
Investors should consider the investment objectives, risks, charges, and expenses of the Baron Funds carefully before investing. The prospectus and summary prospectus contain this and other information about Baron Funds. You may obtain them from its distributor, Baron Capital, Inc., by calling 1-800-99-BARON or visiting baroncapitalgroup.com. Please read it carefully before investing.
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Adviser waives and/or reimburses or may waive or reimburse certain Funds expenses pursuant to a contract expiring on August 29, 2036, unless renewed for another 11-year term and the Funds' transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted. For performance information current to the most recent month end, visit BaronCapitalGroup.com or call 1-800-99-BARON.
As of 9/30/2025
Average Annualized Returns % | ||||||||
|---|---|---|---|---|---|---|---|---|
| Fund/Benchmark | Inception Date | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | Annual Expense Ratio | Net Assets |
| Small Cap | ||||||||
| Baron Discovery Fund® | 9/30/2013 | 17.61% | 16.52% | 6.16% | 14.36% | 12.87% | 1.05% (6) | $1.90 billion |
| Russell 2000 Growth Index | 13.56% | 16.68% | 8.41% | 9.91% | 8.88% | |||
| Baron Growth Fund® | 12/31/1994 | (13.95)% | 6.03% | 3.75% | 9.51% | 11.82% | 1.08% (6)(7) | $4.95 billion |
| Russell 2000 Growth Index | 13.56% | 16.68% | 8.41% | 9.91% | 8.10% | |||
| Baron Small Cap Fund® | 9/30/1997 | (0.09)% | 14.98% | 6.49% | 11.62% | 10.05% | 1.05% (6) | $3.76 billion |
| Russell 2000 Growth Index | 13.56% | 16.68% | 8.41% | 9.91% | 6.68% | |||
| Small/Mid Cap | ||||||||
| Baron Focused Growth Fund® 1 | 5/31/1996 | 24.61% | 19.91% | 15.40% | 20.30% | 13.84% | 1.05% (8) | $2.81 billion |
| Russell 2500 Growth Index | 12.62% | 15.97% | 7.76% | 10.93% | 8.37% | |||
| Mid Cap | ||||||||
| Baron Asset Fund® | 6/12/1987 | 0.26% | 13.52% | 4.93% | 11.11% | 11.13% | 1.04% (6) | $3.79 billion |
| Russell Midcap Growth Index 2 | 22.02% | 22.85% | 11.26% | 13.37% | 10.63% | |||
| Large Cap | ||||||||
| Baron Durable Advantage Fund® | 12/29/2017 | 17.12% | 30.03% | 17.58% | 16.60% | 0.77%/0.70% (6)(9) | $525.30 million | |
| S&P 500 Index | 17.60% | 24.94% | 16.47% | 14.44% | ||||
| Baron Fifth Avenue Growth Fund® | 4/30/2004 | 27.76% | 32.13% | 8.13% | 15.57% | 10.73% | 0.76%/0.75% (6)(10) | $762.72 million |
| Russell 1000 Growth Index | 25.53% | 31.61% | 17.58% | 18.83% | 12.85% | |||
| All Cap | ||||||||
| Baron Opportunity Fund® | 2/29/2000 | 28.07% | 31.96% | 13.71% | 20.50% | 10.52% | 1.05% (6) | $1.76 billion |
| Russell 3000 Growth Index | 24.79% | 30.76% | 17.03% | 18.26% | 8.11% | |||
| Baron Partners Fund®3,4 | 1/31/1992 | 33.23% | 17.03% | 16.76% | 22.56% | 15.46% | 1.99% (8)(11) | $8.12 billion |
| Russell Midcap Growth Index | 22.02% | 22.85% | 11.26% | 13.37% | 10.42% | |||
| Non-U.S./Global | ||||||||
| Baron Emerging Markets Fund® | 12/31/2010 | 22.11% | 18.69% | 5.27% | 7.35% | 5.28% | 1.11% (8) | $3.72 billion |
| MSCI Emerging Markets Index | 17.32% | 18.21% | 7.02% | 7.99% | 3.56% | |||
| MSCI Emerging Markets IMI Growth Index | 19.42% | 18.34% | 5.03% | 8.51% | 4.45% | |||
| Baron Global Opportunity Fund™ | 4/30/2012 | 33.91% | 20.07% | 1.73% | 14.71% | 12.53% | 0.96%/0.91% (8)(12) | $666.27 million |
| MSCI ACWI Index | 17.27% | 23.12% | 13.54% | 11.91% | 10.56% | |||
| MSCI ACWI Growth Index | 22.21% | 27.54% | 13.25% | 14.34% | 12.61% | |||
| Baron India Fund® | 7/30/2021 | (6.72)% | 9.63% | (2.02)% | 6.86%/1.20% (8)(13) | $21.48 million | ||
| MSCI AC Asia ex Japan/India Linked Index | (13.15)% | 5.35% | (4.74)% | |||||
| MSCI India Index | (13.15)% | 10.30% | 7.45% | |||||
| MSCI Emerging Markets Index | 17.32% | 18.21% | 3.84% | |||||
| Baron International Growth Fund® | 12/31/2008 | 17.48% | 17.20% | 5.84% | 8.56% | 9.69% | 1.04%/0.96% (8)(14) | $365.63 million |
| MSCI ACWI ex USA Index | 16.45% | 20.67% | 10.26% | 8.23% | 7.84% | |||
| MSCI ACWI ex USA IMI Growth Index | 13.18% | 18.26% | 6.32% | 8.15% | 8.30% | |||
| Sector | ||||||||
| Baron FinTech Fund® | 12/31/2019 | 8.66% | 19.31% | 7.19% | 11.10% | 1.13%/0.95% (8)(15) | $71.05 million | |
| FactSet Global FinTech Index | 7.74% | 14.79% | 2.44% | 4.00% | ||||
| Baron Health Care Fund® | 4/30/2018 | (11.83)% | 4.75% | 3.48% | 9.30% | 0.87%/0.85% (8)(16) | $135.29 million | |
| Russell 3000 Health Care Index | (7.62)% | 6.71% | 5.96% | 8.68% | ||||
| Baron Real Estate Fund® | 12/31/2009 | 3.42% | 16.75% | 9.27% | 11.41% | 13.44% | 1.05% (8) | $2.36 billion |
| MSCI USA IMI Extended Real Estate Index | 3.54% | 17.89% | 11.58% | 9.92% | 11.20% | |||
| Baron Real Estate Income Fund® | 12/29/2017 | 5.15% | 12.97% | 8.70% | 9.16% | 0.90%/0.80% (8)(17) | $262.44 million | |
| MSCI US REIT Index | (2.88)% | 9.51% | 8.04% | 4.58% | ||||
| Baron Technology Fund® | 12/31/2021 | 36.99% | 39.10% | 13.17% | 1.35%/0.95% (8)(18) | $103.19 million | ||
| MSCI ACWI Information Technology Index | 28.09% | 37.19% | 14.88% | |||||
| Equity Allocation | ||||||||
| Baron WealthBuilder Fund® | 12/29/2017 | 10.81% | 16.60% | 8.71% | 12.93% | 1.21%/1.18% (8)(19) | $555.55 million | |
| S&P 500 Index | 17.60% | 24.94% | 16.47% | 14.44% | ||||
| Broad-Based Benchmarks5 | ||||||||
| Russell 3000 Index | 17.41% | 24.12% | 15.74% | 14.71% | ||||
| S&P 500 Index | 17.60% | 24.94% | 16.47% | 15.30% | ||||
| MSCI ACWI Index | 17.27% | 23.12% | 13.54% | 11.91% | ||||
| MSCI ACWI ex USA Index | 16.45% | 20.67% | 10.26% | 8.23% | ||||
| MSCI Emerging Markets Index | 17.32% | 18.21% | 7.02% | 7.99% | ||||
1Performance reflects the actual fees and expenses that were charged when the Fund was a partnership. The predecessor partnership charged a 15% performance fee through 2003 after reaching a certain performance benchmark. If the annual returns for the Fund did not reflect the performance fee for the years the predecessor partnership charged a performance fee, returns would be higher. The Fund's shareholders will not be charged a performance fee. The predecessor partnership's performance is only for periods before the Fund's registration statement was effective, which was June 30, 2008. During those periods, the predecessor partnership was not registered under the Investment Company Act of 1940 and was not subject to its requirements or the requirements of the Internal Revenue Code relating to registered investment companies, which, if it were, might have adversely impacted its performance. 2The since inception date for Russell Midcap Growth Index is 6/30/1987.
3Performance reflects the actual fees and expenses that were charged when the Fund was a partnership. The predecessor partnership charged a 20% performance after reaching a certain performance benchmark. If the annual returns for the Fund did not reflect the performance fee for the years the predecessor partnership charged a performance fee, returns would be higher. The Fund's shareholders will not be charged a performance fee. The predecessor partnership's performance is only for periods before the Fund's registration statement was effective, which was April 30, 2003. During those periods, the predecessor partnership was not registered under the Investment Company Act of 1940 and was not subject to its requirements or the requirements of the Internal Revenue Code relating to registered investment companies, which, if it were, might have adversely impacted its performance. 4While the Fund may invest in securities of any market capitalization, 45.8% of the Fund’s long holdings were invested in SMID, Mid and Mid/Large-Cap securities (as defined by Russell, Inc.) as of 9/30/2025 (SMID represents 10.5% of the portfolio and has market capitalizations between $5.4 – $16.8 billion; Mid represents 28.0% and has market capitalizations between $16.8 – $58.2 billion; Mid /Large represents 7.4% and has market capitalizations between $58.2 – $202.7 billion). 5The Broad-Based Benchmark for Baron Discovery Fund, Baron Growth Fund, Baron Small Cap Fund, Baron Focused Growth Fund, Baron Asset Fund, Baron Partners Fund, and Baron Health Care Fund is Russell 3000 Index. The Broad-Based Benchmark for Baron Durable Advantage Fund, Baron Fifth Avenue Growth Fund, Baron Opportunity Fund, Baron FinTech Fund, Baron Real Estate Fund, Baron Real Estate Income Fund, Baron Technology Fund, and Baron WealthBuilder Fund is S&P 500 Index. The Broad- Based Benchmark for Baron Emerging Markets Fund is MSCI Emerging Markets Index. The Broad-Based Benchmark for Baron International Growth Fund is MSCI ACWI ex USA Index. The Broad-Based Benchmark for Baron Global Opportunity Fund, Baron FinTech Fund, Baron Technology Fund, and Baron WealthBuilder Fund is MSCI ACWI Index.
6As of 1/28/2025. 7Comprised of operating expenses of 1.03% and interest expense of 0.05%. 8As of 4/30/2025. 9Gross annual expense ratio was 0.77%, but the net annual expense ratio was 0.70% (net of Adviser’s fee waivers). 10Gross annual expense ratio was 0.76%, but the net annual expense ratio was 0.75% (net of Adviser’s fee waivers). 11Comprised of operating expenses of 1.05% and interest expense of 0.94%. 12Gross annual expense ratio was 0.96%, but the net annual expense ratio was 0.91% (net of Adviser’s fee waivers, including interest expense of 0.01%). 13Gross annual expense ratio was 6.86%, but the net annual expense ratio was 1.20% (net of Adviser’s fee waivers and expense reimbursements). 14Gross annual expense ratio was 1.04%, but the net annual expense ratio was 0.96% (net of Adviser’s fee waivers). 15Gross annual expense ratio was 1.13%, but the net annual expense ratio was 0.95% (net of Adviser’s fee waivers). 16Gross annual expense ratio was 0.87%, but the net annual expense ratio was 0.85% (net of Adviser’s fee waivers). 17Gross annual expense ratio was 0.90%, but the net annual expense ratio was 0.80% (net of Adviser’s fee waivers). 18Gross annual expense ratio was 1.35%, but the net annual expense ratio was 0.95% (net of Adviser’s fee waivers and expense reimbursements). 19Gross annual expense ratio was 1.21%, but the net annual expense ratio was 1.18% (includes acquired fund fees and expenses, net of the expense reimbursements).
If a Fund’s historical performance was impacted by gains from IPOs there is no guarantee that these results can be repeated or that the Funds' level of participation in IPOs will be the same in the future.
† As stated within the Supplement to the Summary Prospectus, Prospectus and Statement of Additional Information dated April 30, 2025, effective October 1, 2025, Baron Global Advantage Fund® has changed its name to Baron Global Opportunity Fund™. For additional information please refer to the Supplement.
Risks: All investments are subject to risk and may lose value.
Portfolio holdings as a percentage of net assets as of September 30, 2025 for securities mentioned are as follows: Shopify Inc. - Baron Fifth Avenue Growth Fund (5.2%), Baron FinTech Fund (2.5%), Baron Focused Growth Fund (3.6%), Baron Opportunity Fund (1.7%), Baron Technology Fund (1.3%), Morningstar, Inc. - Baron Asset Fund (1.0%), Baron FinTech Fund (1.7%), Baron Growth Fund (4.3%), Gartner, Inc. - Baron Asset Fund (4.7%), Baron Growth Fund (6.4%), Baron Opportunity Fund (1.6%), Baron Partners Fund (3.7%*), Baron Small Cap Fund (3.0%), Baron Technology Fund (1.1%), On Holding Ag - Baron Asset Fund (1.3%), Baron Discovery Fund (0.8%), Baron Focused Growth Fund (4.4%), Baron International Growth Fund (0.7%).
Portfolio holdings are subject to change. Current and future portfolio holdings are subject to risk.
The discussion of market trends is not intended as advice to any person regarding the advisability of investing in any particular security. The views expressed in this document reflect those of the respective writer. Some of our comments are based on management expectations and are considered “forward-looking statements.” Actual future results, however, may prove to be different from our expectations. Our views reflect our best judgment at the time and are subject to change at any time based on market and other conditions and Baron Capital has no obligation to update them.
BAMCO, Inc. is an investment adviser registered with the U.S. Securities and Exchange Commission (SEC). Baron Capital, Inc. is a broker-dealer registered with the SEC and member of the Financial Industry Regulatory Authority, Inc. (FINRA).