Baron Partners Fund R6 Shares 

The Baron Partners Fund aims for long-term capital growth, primarily concentrating its investments in the common shares of dynamic U.S. companies, irrespective of their size. The investment adviser actively seeks out businesses that possess substantial opportunities for expansion, durable competitive strengths, exceptional leadership, and attractive valuations. To capitalize on compelling opportunities, the fund may employ financial leverage, borrowing up to one-third of its total assets from banks; this includes any assets acquired with the borrowed funds. It is classified as a non-diversified fund.