Baron Capital (BAMCO)
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Ron Baron's Baron Capital (BAMCO) reported 327 stock positions worth $36.9 billion. Its top holding was Tesla (TSLA) at 14.5% of the portfolio, followed by Arch Capital (ACGL, 4.7%) and MSCI (MSCI, 4.3%). Compared with Q3 2025, it opened 33 new positions, sold out of 36, added to 122 and reduced 122. The biggest buy was Factset Research Systems (FDS, shares +59%) and the biggest sale Vail Resorts (MTN, shares −16%).
- Most Recent 13F
- Q2 2026
- Notable People
- Ron Baron
- Location
- NEW YORK, NY
- CIK
- 0001017918
- Portfolio Value
- $36.9B (Q4 2025)
- SEC Filing
- 0001017918-26-000015 ↗ filed Feb 17, 2026
Holdings Value
Holdings 327 stocks · $36.9B
| TSLA Tesla Inc. | 14.53% | 11,927,475 | $5.4B | Reduce -0.2% |
| ACGL Arch Capital Group Ltd. | 4.67% | 17,987,505 | $1.7B | Reduce -4.1% |
| MSCI MSCI Inc. | 4.28% | 2,755,747 | $1.6B | Add +15.1% |
| CSGP Costar Group Inc. | 3.55% | 19,498,099 | $1.3B | Add +1.3% |
| IDXX Idexx Laboratories Inc. | 3.30% | 1,798,041 | $1.2B | Reduce -4.6% |
| IT Gartner Inc. | 2.88% | 4,212,957 | $1.1B | Reduce -2.5% |
| GWRE Guidewire Software Inc. | 2.80% | 5,147,550 | $1.0B | Reduce -0.4% |
| H Hyatt Hotels Corp. Class A | 2.65% | 6,106,485 | $979.0M | Reduce -0.2% |
| FDS Factset Research Systems Inc. | 2.27% | 2,888,845 | $838.3M | Add +58.8% |
| RRR Red Rock Resorts Inc. Class A | 2.10% | 12,519,892 | $775.6M | Add +2.0% |
| SCHW Schwab (charles) Corp. | 1.91% | 7,060,309 | $705.4M | Reduce -1.0% |
| CHH Choice Hotels Intl Inc. | 1.91% | 7,386,575 | $703.6M | Add +37.8% |
| KNSL Kinsale Capital Group Inc. | 1.89% | 1,781,201 | $696.7M | Reduce -0.4% |
| FIGS Figs Inc. Class A | 1.85% | 59,959,449 | $681.1M | Add +0.0% |
| MTN Vail Resorts Inc. | 1.73% | 4,809,928 | $638.8M | Reduce -15.7% |
| SPOT Spotify Technology SA | 1.57% | 997,291 | $579.1M | Add +0.9% |
| NVDA Nvidia Corp. | 1.51% | 2,988,943 | $557.4M | Add +0.1% |
| SHOP Shopify Inc. Class A | 1.00% | 2,288,270 | $368.3M | Add +0.1% |
| BIRK Birkenstock Holding PLC | 0.88% | 7,966,037 | $325.8M | Add +25.4% |
| IBKR Interactive Brokers Gro Class A | 0.81% | 4,643,376 | $298.6M | Add +0.7% |
| PRI Primerica Inc. | 0.79% | 1,132,544 | $292.6M | Reduce -19.6% |
| VRSK Verisk Analytics Inc. | 0.79% | 1,302,611 | $291.4M | Add +6.7% |
| AMZN Amazon.com Inc. | 0.77% | 1,225,159 | $282.8M | Add +13.6% |
| MORN Morningstar Inc. | 0.73% | 1,241,794 | $269.9M | Reduce -12.2% |
| SITE Siteone Landscape Supply Inc. | 0.68% | 2,028,366 | $252.7M | Add +3.1% |
| ONON On Holding AG Class A filed as ON HLDG AG | 0.68% | 5,405,486 | $251.2M | Add +13.9% |
| VRT Vertiv Holdings Co. Class A | 0.68% | 1,545,572 | $250.4M | Reduce -25.4% |
| WELL Welltower Inc. | 0.64% | 1,277,492 | $237.1M | Add +7.6% |
| APH Amphenol Corp. Class A | 0.63% | 1,710,742 | $231.2M | Reduce -9.5% |
| CBRE CBRE Group Inc. Class A | 0.59% | 1,359,332 | $218.6M | Reduce -0.3% |
| MTD Mettler-Toledo International | 0.55% | 146,334 | $204.0M | Reduce -30.8% |
| HLI Houlihan Lokey Inc. | 0.53% | 1,123,951 | $195.8M | Reduce -0.6% |
| TSM Taiwan Semiconductor-SP ADR | 0.52% | 634,652 | $192.9M | Add +4.7% |
| JLL Jones Lang Lasalle Inc. | 0.51% | 564,297 | $189.9M | Add +0.0% |
| CWAN Clearwater Analytics HDS-A | 0.51% | 7,816,447 | $188.5M | Add +1.8% |
| AVGO Broadcom Inc. | 0.50% | 537,840 | $186.1M | Add +8.1% |
| META Meta Platforms Inc. Class A | 0.48% | 270,126 | $178.3M | Add +1.9% |
| BN Brookfield Corp. | 0.45% | 3,635,917 | $166.9M | Add +0.9% |
| MSFT Microsoft Corp. | 0.45% | 341,758 | $165.3M | Add +1.9% |
| DKNG Draftkings Inc. Class A | 0.44% | 4,674,455 | $161.1M | Add +13.8% |
| TOL Toll Brothers Inc. | 0.43% | 1,166,270 | $157.7M | Add +0.8% |
| BABA Alibaba Group Holding-SP ADR | 0.43% | 1,071,647 | $157.1M | Add +6.8% |
| INTA Intapp Inc. | 0.41% | 3,327,989 | $152.5M | Add +15.5% |
| WYNN WYNN Resorts Ltd. | 0.40% | 1,219,590 | $146.8M | Reduce -8.8% |
| IOT Samsara Inc. Class A | 0.40% | 4,120,031 | $146.1M | Add +21.9% |
| LOAR Loar Holdings Inc. | 0.39% | 2,119,505 | $144.1M | Add +17.2% |
| PLD Prologis Inc. | 0.38% | 1,109,127 | $141.6M | Add +24.4% |
| KRMN Karman Holdings Inc. | 0.38% | 1,914,221 | $140.1M | Reduce -19.3% |
| PWR Quanta Services Inc. | 0.38% | 328,010 | $138.4M | Reduce -8.1% |
| RBC RBC Bearings Inc. | 0.37% | 303,110 | $135.9M | Reduce -7.5% |
| LLYVK Liberty Live Holdings Class C | 0.36% | 1,613,666 | $134.2M | Add +10.6% |
| GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD | 0.36% | 3,784,848 | $132.1M | Reduce -11.1% |
| ARGX Argenx SE - ADR | 0.35% | 153,719 | $129.3M | Reduce -8.3% |
| MELI MercadoLibre Inc. | 0.34% | 61,964 | $124.8M | Reduce -1.1% |
| PLNT Planet Fitness Inc. Class A | 0.34% | 1,150,028 | $124.7M | No change |
| ABNB Airbnb Inc. Class A | 0.32% | 880,076 | $119.4M | Add +52.1% |
| TTAN Servicetitan Inc. Class A | 0.32% | 1,096,931 | $116.8M | Add +13.9% |
| FICO Fair Isaac Corp. | 0.31% | 68,651 | $116.1M | Reduce -9.5% |
| NOVT Novanta Inc. | 0.30% | 936,962 | $111.5M | Add +49.4% |
| EQIX Equinix Inc. | 0.30% | 145,429 | $111.4M | Reduce -18.5% |
| PCOR Procore Technologies Inc. | 0.30% | 1,515,982 | $110.3M | Add +2.4% |
| IBP Installed Building Products | 0.30% | 423,182 | $109.8M | Reduce -7.6% |
| HEI.A Heico Corp. Class A | 0.30% | 434,342 | $109.6M | Add +2.3% |
| JBTM JBT Marel Corp. | 0.29% | 700,040 | $105.5M | No change |
| CRH CRH PLC | 0.29% | 844,634 | $105.4M | Add +0.2% |
| TDG Transdigm Group Inc. | 0.28% | 77,799 | $103.5M | Reduce -5.3% |
| BFAM Bright Horizons Family Solut | 0.28% | 1,013,488 | $102.8M | Add +7.9% |
| CPNG Coupang Inc. | 0.27% | 4,274,350 | $100.8M | Reduce -0.7% |
| LVS Las Vegas Sands Corp. | 0.26% | 1,497,892 | $97.5M | Add +23.0% |
| ICLR Icon PLC | 0.26% | 534,248 | $97.4M | Reduce -22.0% |
| EXAS Exact Sciences Corp. | 0.26% | 954,547 | $96.9M | Reduce -55.4% |
| VTR Ventas Inc. | 0.26% | 1,219,483 | $94.4M | Add +615.1% |
| FROG Jfrog Ltd. | 0.25% | 1,493,518 | $93.3M | Add +19.6% |
| LLY Eli Lilly & Co. | 0.25% | 86,476 | $92.9M | Add +1.0% |
| ROP Roper Technologies Inc. | 0.25% | 207,437 | $92.3M | Reduce -8.2% |
| KTOS Kratos Defense & Security | 0.25% | 1,209,773 | $91.8M | Reduce -37.4% |
| BX Blackstone Inc. | 0.24% | 580,010 | $89.4M | Reduce -5.9% |
| RGEN Repligen Corp. | 0.24% | 544,779 | $89.3M | Add +42.7% |
| FWONK Liberty Media Corp. Class C | 0.24% | 900,000 | $88.7M | No change |
| SNOW Snowflake Inc. | 0.23% | 381,878 | $83.8M | Add +2.3% |
| GLPI Gaming and Leisure Propertie | 0.23% | 1,858,796 | $83.1M | Reduce -63.9% |
| FND Floor & Decor Holdings Inc. Class A | 0.22% | 1,354,401 | $82.5M | Reduce -11.3% |
| BAP Credicorp Ltd. | 0.22% | 285,044 | $81.8M | Reduce -3.7% |
| NET Cloudflare Inc. Class A | 0.22% | 409,604 | $80.8M | Reduce -9.8% |
| HLT Hilton Worldwide Holdings Inc. | 0.21% | 267,703 | $76.9M | Add +1.2% |
| INDI Indie Semiconductor Inc. Class A | 0.21% | 21,705,742 | $76.6M | Add +0.7% |
| DRVN Driven Brands Holdings Inc. | 0.20% | 5,000,261 | $74.1M | No change |
| ROL Rollins Inc. | 0.20% | 1,208,539 | $72.5M | Reduce -5.6% |
| WST West Pharmaceutical Services | 0.20% | 263,189 | $72.4M | Reduce -12.5% |
| BWIN Baldwin Insurance Group Inc./ filed as THE BALDWIN INSURANCE GRP IN | 0.20% | 3,010,428 | $72.3M | Add +0.0% |
| TECH Bio-Techne Corp. | 0.19% | 1,207,499 | $71.0M | Reduce -51.6% |
| ESTA Establishment Labs Holdings | 0.19% | 961,226 | $70.1M | Reduce -18.7% |
| TRU Transunion | 0.19% | 813,353 | $69.7M | Reduce -1.1% |
| HQY Healthequity Inc. | 0.19% | 756,025 | $69.3M | Reduce -0.5% |
| ALKT Alkami Technology Inc. | 0.19% | 2,983,065 | $68.8M | Add +24.6% |
| CGNX Cognex Corp. | 0.19% | 1,900,166 | $68.4M | No change |
| HTFL Heartflow Inc. | 0.18% | 2,303,877 | $67.2M | Add +86.2% |
| DDOG Datadog Inc. Class A | 0.18% | 490,582 | $66.7M | Reduce -9.1% |
| DT Dynatrace Inc. | 0.18% | 1,499,500 | $65.0M | Add +8.8% |
| VMC Vulcan Materials Co. | 0.17% | 225,132 | $64.2M | Add +0.9% |
Portfolio Sells Q3 2025 → Q4 2025
| MTN Vail Resorts Inc. | Reduce -15.7% | 1.73% | −0.53 |
| GLPI Gaming and Leisure Propertie | Reduce -63.9% | 0.23% | −0.41 |
| GWRE Guidewire Software Inc. | Reduce -0.4% | 2.80% | −0.35 |
| CNS Cohen & Steers Inc. | Reduce -90.5% | 0.03% | −0.27 |
| PRI Primerica Inc. | Reduce -19.6% | 0.79% | −0.24 |
| KTOS Kratos Defense & Security | Reduce -37.4% | 0.25% | −0.22 |
| TREX Trex Company Inc. | Sold out | 0.00% | −0.22 |
| ITGR Integer Holdings Corp. | Sold out | 0.00% | −0.21 |
| DUOL Duolingo | Sold out | 0.00% | −0.21 |
| TTD Trade Desk Inc./the Class A | Reduce -72.2% | 0.05% | −0.18 |
| TECH Bio-Techne Corp. | Reduce -51.6% | 0.19% | −0.18 |
| VNO Vornado Realty Trust | Sold out | 0.00% | −0.15 |
| VRT Vertiv Holdings Co. Class A | Reduce -25.4% | 0.68% | −0.15 |
| AMT American Tower Corp. | Reduce -49.9% | 0.13% | −0.14 |
| MORN Morningstar Inc. | Reduce -12.2% | 0.73% | −0.14 |
| MTD Mettler-Toledo International | Reduce -30.8% | 0.55% | −0.14 |
| IT Gartner Inc. | Reduce -2.5% | 2.88% | −0.13 |
| KNSL Kinsale Capital Group Inc. | Reduce -0.4% | 1.89% | −0.13 |
| IRM Iron Mountain Inc. | Sold out | 0.00% | −0.12 |
| MRCY Mercury Systems Inc. | Reduce -35.5% | 0.17% | −0.10 |
| VEEV Veeva Systems Inc. Class A | Reduce -19.5% | 0.16% | −0.10 |
| TMHC Taylor Morrison Home Corp. | Reduce -56.6% | 0.06% | −0.10 |
| DAY Dayforce Inc. | Sold out | 0.00% | −0.10 |
| CPNG Coupang Inc. | Reduce -0.7% | 0.27% | −0.09 |
| DHI D.R. Horton Inc. | Sold out | 0.00% | −0.09 |
| BEKE Ke Holdings Inc.-ADR | Sold out | 0.00% | −0.09 |
| HLI Houlihan Lokey Inc. | Reduce -0.6% | 0.53% | −0.08 |
| PAR Par Technology Corp. | Reduce -41.3% | 0.10% | −0.08 |
| ODD Oddity Tech Ltd. Class A | Reduce -1.7% | 0.15% | −0.08 |
| AMH American Homes 4 Rent- A | Reduce -81.0% | 0.02% | −0.08 |
| GDS GDS Holdings Ltd. - ADR | Reduce -11.1% | 0.36% | −0.08 |
| DLR Digital Realty Trust Inc. | Reduce -52.8% | 0.06% | −0.08 |
| FND Floor & Decor Holdings Inc. Class A | Reduce -11.3% | 0.22% | −0.08 |
| KRMN Karman Holdings Inc. | Reduce -19.3% | 0.38% | −0.07 |
| JBI Janus International Group Inc. | Sold out | 0.00% | −0.07 |
| BXP BXP Inc. | Reduce -62.6% | 0.04% | −0.07 |
| DEI Douglas Emmett Inc. | Reduce -92.9% | 0.00% | −0.07 |
| EQIX Equinix Inc. | Reduce -18.5% | 0.30% | −0.07 |
| IRT Independence Realty Trust Inc. | Sold out | 0.00% | −0.06 |
| IEX Idex Corp. | Reduce -67.4% | 0.03% | −0.06 |
| WYNN WYNN Resorts Ltd. | Reduce -8.8% | 0.40% | −0.06 |
| METC Ramaco Resources Inc. Class A | Sold out | 0.00% | −0.05 |
| ICLR Icon PLC | Reduce -22.0% | 0.26% | −0.05 |
| MELI MercadoLibre Inc. | Reduce -1.1% | 0.34% | −0.05 |
| YMM Full Truck Alliance -SPN ADR | Reduce -8.6% | 0.17% | −0.05 |
| ROP Roper Technologies Inc. | Reduce -8.2% | 0.25% | −0.05 |
| EXAS Exact Sciences Corp. | Reduce -55.4% | 0.26% | −0.05 |
| VRSN Verisign Inc. | Reduce -68.3% | 0.02% | −0.05 |
| GTLB Gitlab Inc. Class A | Reduce -10.7% | 0.14% | −0.05 |
| GFI Gold Fields Ltd.-Spons ADR | Sold out | 0.00% | −0.04 |
Portfolio Buys Q3 2025 → Q4 2025
| FDS Factset Research Systems Inc. | Add +58.8% | 2.27% | +0.89 |
| FIGS Figs Inc. Class A | Add +0.0% | 1.85% | +0.78 |
| MSCI MSCI Inc. | Add +15.1% | 4.28% | +0.68 |
| CHH Choice Hotels Intl Inc. | Add +37.8% | 1.91% | +0.39 |
| VTR Ventas Inc. | Add +615.1% | 0.26% | +0.22 |
| SKY Champion Homes Inc. | New | 0.17% | +0.17 |
| ONON On Holding AG Class A | Add +13.9% | 0.68% | +0.15 |
| CWAN Clearwater Analytics HDS-A | Add +1.8% | 0.51% | +0.14 |
| AMZN Amazon.com Inc. | Add +13.6% | 0.77% | +0.14 |
| ABNB Airbnb Inc. Class A | Add +52.1% | 0.32% | +0.14 |
| NOVT Novanta Inc. | Add +49.4% | 0.30% | +0.14 |
| WAY Waystar Holding Corp. | New | 0.12% | +0.12 |
| BIRK Birkenstock Holding PLC | Add +25.4% | 0.88% | +0.12 |
| CWST Casella Waste Systems Inc. Class A | New | 0.12% | +0.12 |
| RRR Red Rock Resorts Inc. Class A | Add +2.0% | 2.10% | +0.11 |
| PLD Prologis Inc. | Add +24.4% | 0.38% | +0.11 |
| RGEN Repligen Corp. | Add +42.7% | 0.24% | +0.11 |
| FBIN Fortune Brands Innovations I | New | 0.10% | +0.10 |
| INTA Intapp Inc. | Add +15.5% | 0.41% | +0.10 |
| SHOP Shopify Inc. Class A | Add +0.1% | 1.00% | +0.10 |
| FROG Jfrog Ltd. | Add +19.6% | 0.25% | +0.10 |
| LVS Las Vegas Sands Corp. | Add +23.0% | 0.26% | +0.09 |
| WELL Welltower Inc. | Add +7.6% | 0.64% | +0.08 |
| LLY Eli Lilly & Co. | Add +1.0% | 0.25% | +0.08 |
| NU Nu Holdings Ltd./Cayman Isl-A | Add +91.8% | 0.15% | +0.08 |
| TSM Taiwan Semiconductor-SP ADR | Add +4.7% | 0.52% | +0.07 |
| RKT Rocket Cos Inc. Class A | New | 0.07% | +0.07 |
| HTFL Heartflow Inc. | Add +86.2% | 0.18% | +0.07 |
| AVGO Broadcom Inc. | Add +8.1% | 0.50% | +0.07 |
| GLIBK Liberty Capital Corp. Class C | New | 0.07% | +0.07 |
| JLL Jones Lang Lasalle Inc. | Add +0.0% | 0.51% | +0.07 |
| CWK Cushman & Wakefield Ltd. | New | 0.07% | +0.07 |
| IOT Samsara Inc. Class A | Add +21.9% | 0.40% | +0.06 |
| CVCO Cavco Industries Inc. | New | 0.06% | +0.06 |
| TTAN Servicetitan Inc. Class A | Add +13.9% | 0.32% | +0.06 |
| NP Neptune Insurance Holdi Class A | New | 0.06% | +0.06 |
| AXON Axon Enterprise Inc. | Add +86.0% | 0.16% | +0.05 |
| LGN Legence Corp. Class A | Add +0.2% | 0.16% | +0.05 |
| INSP Inspire Medical Systems Inc. | Add +77.6% | 0.08% | +0.05 |
| NVMI Nova Ltd. | Add +40.9% | 0.14% | +0.04 |
| MPWR Monolithic Power Systems Inc. | Add +35.3% | 0.16% | +0.04 |
| ARQT Arcutis Biotherapeutics Inc. | New | 0.04% | +0.04 |
| BLLN Billiontoone Inc. Class A | New | 0.04% | +0.04 |
| ANDG Andersen Group Inc. Class A | New | 0.04% | +0.04 |
| NVDA Nvidia Corp. | Add +0.1% | 1.51% | +0.03 |
| WING Wingstop Inc. | Add +34.7% | 0.14% | +0.03 |
| GOOGL Alphabet Inc. Class A | Add +0.0% | 0.13% | +0.03 |
| DKNG Draftkings Inc. Class A | Add +13.8% | 0.44% | +0.03 |
| ALKT Alkami Technology Inc. | Add +24.6% | 0.19% | +0.03 |
| COO The Cooper Cos Inc. | Add +0.1% | 0.15% | +0.03 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 345 | $66.6B | SPCX, TSLA, MSCI, ACGL, H |
| Q1 2026 | 326 | $33.1B | TSLA, ACGL, MSCI, GWRE, IT |
| Q4 2025 | 327 | $36.9B | TSLA, ACGL, MSCI, CSGP, IDXX |
| Q3 2025 | 330 | $37.7B | TSLA, ACGL, CSGP, MSCI, IDXX |
| Q2 2025 | 306 | $36.9B | TSLA, ACGL, CSGP, IT, GWRE |
| Q1 2025 | 314 | $34.0B | TSLA, ACGL, IT, CSGP, MSCI |
| Q4 2024 | 316 | $38.7B | TSLA, IT, ACGL, CSGP, MSCI |
| Q3 2024 | 328 | $37.7B | TSLA, ACGL, IT, CSGP, MSCI |
| Q2 2024 | 329 | $34.9B | TSLA, ACGL, IT, CSGP, FDS |
| Q1 2024 | 332 | $37.5B | TSLA, IT, ACGL, CSGP, MSCI |