BPTRX Fees and Costs — Baron Partners Fund, Retail Shares
Data updated: 2026-08-28
The net expense ratio is 1.91%: a 1.00% management fee, a 0.25% 12b-1 fee plus 0.66% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $206K in broker commissions, 0.0027% of average net assets, and portfolio turnover was 5%.
BPTRX Fees and Expenses
Annual operating expenses and sales charges of BPTRX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.66% |
| Gross expense ratio | 1.91% |
| Fee waiver | — |
| Net expense ratio | 1.91% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
BPTRX Costs Over Time
On $10,000 invested in BPTRX, assuming 5% a year before costs, total costs come to $1,175 over 5 years, cutting the return by 2.01% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.91%) | $201 | $620 | $1,065 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $31 | $109 |
| Total costs | $201 | $652 | $1,175 |
| Value after costs | $10,299 | $10,925 | $11,588 |
| Impact on return, per year | 2.01% | 2.01% | 2.01% |
BPTRX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0027%
- Total broker commissions: $206K
- Bought from dealers (principal trades, not a cost): $79.6M
- Portfolio turnover (prospectus): 5%
- Securities on loan, average value: $0
- Net income from securities lending: $200K (0.003% of average net assets)
BPTRX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| State Street Global Markets, LLC | $34K | 20.88% |
| Goldman Sachs & Co. LLC | $32K | 19.82% |
| Morgan Stanley & Co. LLC | $31K | 18.79% |
| Jefferies LLC | $18K | 10.80% |
| UBS Securities LLC | $12K | 7.54% |
| William Blair & Company, L.L.C. | $10K | 6.19% |
| BofA Securities, Inc. | $9K | 5.48% |
| Stifel, Nicolaus & Company, Incorporated | $7K | 4.11% |
| Wells Fargo Securities, LLC | $5K | 3.31% |
| Raymond James & Associates, Inc. | $5K | 3.08% |
BPTRX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $63.9M | 80.25% |
| Morgan Stanley & Co. LLC | $15.7M | 19.75% |
Baron Partners Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| BPTIX | Institutional Shares | 1.65% | — |
| BPTUX | R6 Shares | 1.65% | — |
| BPTRX | Retail Shares | 1.91% | — |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.