BTECX Performance — Baron Technology Fund, Institutional Shares
Data updated: 2025-11-26
BTECX returned +36.97% over one year to Sep 2025. The annualised 3-year return is +39.09%. The fund beat its Technology Equity category average: $100 invested three years ago grew to $269, against $228 for the category, and to $137 over one year, against $128. Volatility over the past three years was 23.48% a year. In the 12 months to Sep 2025 the fund took in a net $40.6M, and assets reached $103.07M.
BTECX Growth of $100
What $100 invested in Baron Technology Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Technology Equity category average over the same months.
| Period | BTECX | Category average |
|---|---|---|
| 1 year (Oct 2024 – Sep 2025) | $137 | $128 |
| 3 years (Oct 2022 – Sep 2025) | $269 | $228 |
| Since data start (Jan 2022 – Sep 2025) | $159 | $146 |
BTECX Trailing Returns
Total returns to Sep 2025, from SEC N-PORT.
| Period | Total return |
|---|---|
| 1 year | +36.97% |
| 3 years (annualised) | +39.09% |
BTECX Annual Returns
Calendar-year total returns of Baron Technology Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2025 (Jan–Sep) | +18.24% |
| 2024 | +47.80% |
| 2023 | +63.38% |
| 2022 | −44.31% |
BTECX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | +3.4% | −6.4% | −12.0% | +4.5% | +15.5% | +8.6% | +2.7% | −1.5% | +4.7% | — | — | — |
| 2024 | +3.5% | +9.0% | +1.7% | −5.5% | +4.4% | +8.5% | −2.4% | +1.7% | +4.7% | +2.6% | +10.5% | +2.2% |
| 2023 | +14.5% | +1.1% | +5.7% | −4.2% | +14.7% | +6.3% | +5.1% | −2.9% | −5.9% | −3.9% | +16.5% | +6.3% |
| 2022 | −12.5% | −4.7% | +0.2% | −15.3% | −4.1% | −8.8% | +11.9% | −2.9% | −12.2% | +2.4% | +1.0% | −8.8% |
BTECX Risk
Risk measures from monthly returns over Oct 2022 – Sep 2025.
- 3-year volatility (annualised): 23.48%
- 3-year Sharpe ratio: 1.47 (vs 4.5% risk-free rate)
- Best month: +16.46% (Nov 2023)
- Worst month: −11.98% (Mar 2025)
BTECX Fund Flows
Monthly money in and out of Baron Technology Fund, from SEC Form N-PORT.
- 12-month net flow: $40.6M
- 12-month gross sales (incl. reinvestments): $83.7M
- Sales ÷ redemptions: 1.94×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Sep 2025 | $5.7M | $13.1M | −$7.4M |
| Aug 2025 | $8.2M | $4.3M | $3.9M |
| Jul 2025 | $15.3M | $13.8M | $1.5M |
| Jun 2025 | $10.2M | $1.6M | $8.6M |
| May 2025 | $23.3M | $2.1M | $21.2M |
| Apr 2025 | $2.7M | $1.6M | $1.1M |
| Mar 2025 | $1.9M | $1.8M | $112K |
| Feb 2025 | $2.2M | $1.3M | $882K |
| Jan 2025 | $3.2M | $468K | $2.7M |
| Dec 2024 | $5.8M | $1.5M | $4.3M |
| Nov 2024 | $2.9M | $920K | $2.0M |
| Oct 2024 | $2.3M | $584K | $1.7M |
BTECX Assets Under Management
Net assets of Baron Technology Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2025-09-30 | $103.07M |
| 2025-06-30 | $99.66M |
| 2025-03-31 | $50.49M |
| 2024-12-31 | $55.59M |
| 2024-09-30 | $40.85M |
| 2024-06-30 | $35.15M |
| 2024-03-31 | $25.05M |
| 2023-12-31 | $9.03M |
| 2023-09-30 | $7.04M |
| 2023-06-30 | $5.56M |
| 2023-03-31 | $4.20M |
| 2022-12-31 | $3.31M |
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.