{"entity_type":"fund","name":"Baron Real Estate Fund","identifiers":{"lei":"549300CF6DJFQ0S5V274","cik":"1217673","fund_id":"S000027257","fundkey":"baron-real-estate-fund"},"dates":{"reporting_period_start":"2025-12-31","reporting_period_end":"2025-12-31","filing_date":"2026-03-02"},"summary":{"total_positions":57,"total_value_usd":2651536651.84,"asset_categories":["EC","RA"],"by_asset_category":{"EC":{"positions":56,"total_value_usd":2602945204.99},"RA":{"positions":1,"total_value_usd":48591446.85}}},"holdings":[{"issuer_name":"Jones Lang LaSalle Inc","title":"Jones Lang LaSalle Inc","isin":"US48020Q1076","value_usd":171681125.74,"pct_val":7.383621254648,"balance":510242,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Welltower Inc","title":"Welltower Inc","isin":"US95040Q1040","value_usd":134810955.93,"pct_val":5.797917710952,"balance":726313,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":null,"inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Brookfield Corp","title":"Brookfield Corp","isin":"CA11271J1075","value_usd":129228534.5,"pct_val":5.557830250288,"balance":2816050,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"CBRE Group Inc","title":"CBRE Group Inc","isin":"US12504L1098","value_usd":128615599.42,"pct_val":5.531469283321,"balance":799898,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Toll Brothers Inc","title":"Toll Brothers Inc","isin":"US8894781033","value_usd":109501156,"pct_val":4.709399821123,"balance":809800,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Prologis Inc","title":"Prologis Inc","isin":"US74340W1036","value_usd":98387562,"pct_val":4.231428998645,"balance":770700,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":null,"inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"CRH PLC","title":"CRH PLC","isin":"IE0001827041","value_usd":92526720,"pct_val":3.97936729195,"balance":741400,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"IE","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Wynn Resorts Ltd","title":"Wynn Resorts Ltd","isin":"US9831341071","value_usd":78392347.74,"pct_val":3.371479552455,"balance":651478,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Hyatt Hotels Corp","title":"Hyatt Hotels Corp","isin":"US4485791028","value_usd":70941600,"pct_val":3.051039555693,"balance":442500,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"CoStar Group Inc","title":"CoStar Group Inc","isin":"US22160N1090","value_usd":68515072.12,"pct_val":2.946680018484,"balance":1018963,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Blackstone Inc","title":"Blackstone Inc","isin":"US09260D1072","value_usd":66573066,"pct_val":2.863158678544,"balance":431900,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Ventas Inc","title":"Ventas Inc","isin":"US92276F1003","value_usd":66005140,"pct_val":2.838733451446,"balance":853000,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":null,"inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Airbnb Inc","title":"Airbnb Inc","isin":"US0090661010","value_usd":64828829.52,"pct_val":2.78814296851,"balance":477666,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Hilton Worldwide Holdings Inc","title":"Hilton Worldwide Holdings Inc","isin":"US43300A2033","value_usd":62879025,"pct_val":2.704286236826,"balance":218900,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Champion Homes Inc","title":"Champion Homes Inc","isin":"US8308301055","value_usd":60342633,"pct_val":2.595201689526,"balance":714114,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Vulcan Materials Co","title":"Vulcan Materials Co","isin":"US9291601097","value_usd":60208515.9,"pct_val":2.589433613007,"balance":211095,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"SiteOne Landscape Supply Inc","title":"SiteOne Landscape Supply Inc","isin":"US82982L1035","value_usd":58485279.6,"pct_val":2.515321073748,"balance":469535,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Equinix Inc","title":"Equinix Inc","isin":"US29444U7000","value_usd":54370544.4,"pct_val":2.338355515367,"balance":70965,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":null,"inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Louisiana-Pacific Corp","title":"Louisiana-Pacific Corp","isin":"US5463471053","value_usd":53919575.52,"pct_val":2.318960352427,"balance":667652,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Lowe's Cos Inc","title":"Lowe's Cos Inc","isin":"US5486611073","value_usd":52685260.56,"pct_val":2.265875226532,"balance":218466,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Fixed Income Clearing Corp","title":"FIXED INC CLEARING CORP.REPO","isin":null,"value_usd":48591446.85,"pct_val":2.277544751184,"balance":48591446.85,"units":"PA","currency":"USD","asset_cat":"RA","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Vornado Realty Trust","title":"Vornado Realty Trust","isin":"US9290421091","value_usd":47947597.95,"pct_val":2.031495717056,"balance":1183015,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":null,"inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Brookfield Asset Management Ltd","title":"Brookfield Asset Management Ltd","isin":"CA1130041058","value_usd":46163972.4,"pct_val":1.985409207578,"balance":881160,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Macerich Co/The","title":"Macerich Co/The","isin":"US5543821012","value_usd":45642608.44,"pct_val":1.962986509685,"balance":2472514,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":null,"inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Advanced Drainage Systems Inc","title":"Advanced Drainage Systems Inc","isin":"US00790R1041","value_usd":42000700,"pct_val":1.806356172779,"balance":290000,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Red Rock Resorts Inc","title":"Red Rock Resorts Inc","isin":"US75700L1089","value_usd":40636040.55,"pct_val":1.747665221884,"balance":655949,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"American Tower Corp","title":"American Tower Corp","isin":"US03027X1000","value_usd":35128923.45,"pct_val":1.510816432035,"balance":200085,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":null,"inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"GDS Holdings Ltd","title":"GDS Holdings Ltd","isin":"US36165L1089","value_usd":34117367.5,"pct_val":1.467311672962,"balance":977575,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Las Vegas Sands Corp","title":"Las Vegas Sands Corp","isin":"US5178341070","value_usd":33924908,"pct_val":1.459034420301,"balance":521200,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Goodman Group","title":"Goodman Group","isin":"AU000000GMG2","value_usd":33433337.7,"pct_val":1.437893081091,"balance":1624700,"units":"NS","currency":null,"asset_cat":"EC","issuer_cat":null,"inv_country":"AU","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"DR Horton Inc","title":"DR Horton Inc","isin":"US23331A1097","value_usd":33317802,"pct_val":1.411644690424,"balance":196600,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Equity Residential","title":"Equity Residential","isin":"US29476L1070","value_usd":33114912,"pct_val":1.424198303891,"balance":525300,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":null,"inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Fortune Brands Innovations Inc","title":"Fortune Brands Innovations Inc","isin":"US34964C1062","value_usd":33101435.28,"pct_val":1.423618700304,"balance":661764,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Simon Property Group Inc","title":"Simon Property Group Inc","isin":"US8288061091","value_usd":29367701.5,"pct_val":1.263039160891,"balance":158650,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":null,"inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Blackstone Mortgage Trust Inc","title":"Blackstone Mortgage Trust Inc","isin":"US09257W1009","value_usd":28657696.5,"pct_val":1.232503433762,"balance":1498050,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":null,"inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Iron Mountain Inc","title":"Iron Mountain Inc","isin":"US46284V1017","value_usd":28424643.78,"pct_val":1.204326067765,"balance":278837,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":null,"inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Rocket Cos Inc","title":"Rocket Cos Inc","isin":"US77311W1018","value_usd":26645168,"pct_val":1.14594908398,"balance":1376300,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"AvalonBay Communities Inc","title":"AvalonBay Communities Inc","isin":"US0534841012","value_usd":26412210.3,"pct_val":1.280235622118,"balance":123065,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":null,"inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AAON Inc","title":"AAON Inc","isin":"US0003602069","value_usd":25959312.5,"pct_val":1.116451972835,"balance":340450,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"American Homes 4 Rent","title":"American Homes 4 Rent","isin":"US02665T3068","value_usd":24091054.75,"pct_val":1.020715878093,"balance":724543,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":null,"inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Extra Space Storage Inc","title":"Extra Space Storage Inc","isin":"US30225T1025","value_usd":23721277.5,"pct_val":1.149802463054,"balance":159750,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":null,"inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Taylor Morrison Home Corp","title":"Taylor Morrison Home Corp","isin":"US87724P1066","value_usd":23200667,"pct_val":0.997808799568,"balance":394100,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Churchill Downs Inc","title":"Churchill Downs Inc","isin":"US1714841087","value_usd":22788120.83,"pct_val":1.10457109482,"balance":205169,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Cushman & Wakefield Ltd","title":"Cushman & Wakefield Ltd","isin":"BMG2717C1064","value_usd":22489302.34,"pct_val":0.967214596503,"balance":1389086,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Installed Building Products Inc","title":"Installed Building Products Inc","isin":"US45780R1014","value_usd":21707570.93,"pct_val":0.933594076895,"balance":83687,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Cavco Industries Inc","title":"Cavco Industries Inc","isin":"US1495681074","value_usd":21562010,"pct_val":0.927333826841,"balance":36500,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Lennar Corp","title":"Lennar Corp","isin":"US5260571048","value_usd":20895584.22,"pct_val":1.012837280923,"balance":182049,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Trex Co Inc","title":"Trex Co Inc","isin":"US89531P1057","value_usd":19050729,"pct_val":0.807161902263,"balance":368700,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Expedia Group Inc","title":"Expedia Group Inc","isin":"US30212P3038","value_usd":18364925,"pct_val":0.890172799454,"balance":109250,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Kilroy Realty Corp","title":"Kilroy Realty Corp","isin":"US49427F1084","value_usd":18037656,"pct_val":0.87430962757,"balance":550600,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":null,"inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Floor & Decor Holdings Inc","title":"Floor & Decor Holdings Inc","isin":"US3397501012","value_usd":16954685,"pct_val":0.71835444181,"balance":230050,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Digital Realty Trust Inc","title":"Digital Realty Trust Inc","isin":"US2538681030","value_usd":12632226.21,"pct_val":0.543283797421,"balance":81651,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":null,"inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"BXP Inc","title":"BXP Inc","isin":"US1011211018","value_usd":11586316,"pct_val":0.498301538459,"balance":171700,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":null,"inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Builders FirstSource Inc","title":"Builders FirstSource Inc","isin":"US12008R1077","value_usd":6826375,"pct_val":0.289227243249,"balance":56300,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Legence Corp","title":"Legence Corp","isin":"US52476L1098","value_usd":6166814.24,"pct_val":0.265220888432,"balance":143281,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Millrose Properties Inc","title":"Millrose Properties Inc","isin":"US6011371027","value_usd":4813172.24,"pct_val":0.225599686413,"balance":168824,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":null,"inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Independence Realty Trust Inc","title":"Independence Realty Trust Inc","isin":"US45378A1060","value_usd":1161837.93,"pct_val":0.049226006716,"balance":70887,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":null,"inv_country":"US","fair_val_level":"1","payoff_profile":"Long"}],"source_documents":[{"label":"SEC NPORT-P Filings","url":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1217673&type=NPORT&dateb=&owner=exclude&count=40"}],"dataset":{"json":"https://dealcharts.org/llm/facts/fund/baron-real-estate-fund.json","page":"https://dealcharts.org/capitalmarkets/funds/baron-real-estate-fund/"},"provenance":{"curator":"CMD+RVL","curator_url":"https://cmdrvl.com","platform":"Dealcharts","platform_url":"https://dealcharts.org/","source":"SEC NPORT-P Public Filings","license":"CC-BY 4.0","license_url":"https://creativecommons.org/licenses/by/4.0/","attribution":"Data curated by CMD+RVL from SEC NPORT-P public filings"},"citation":"Fund: Baron Real Estate Fund | LEI: 549300CF6DJFQ0S5V274 | 57 positions totaling $2,651,536,652 across EC, RA | Filing: Sun Mar 01 2026 19:00:00 GMT-0500 (Eastern Standard Time) | Source: SEC NPORT-P via Dealcharts.org","updated_at":"2026-03-02"}