The Fund Grade · free · no account needed
What grade does BFGUX get?
Morningstar rates funds on what they returned. We grade them on where their money sits today: how much of the book overlaps with the converged buys of the top specialist stock pickers.
Fundprints Fund Grade · as of 2026-09-01
Baron Focused Growth Fund
#70 of 440 graded active funds · growth · mid segment peer group
The point · specialist footprint
BFGUX puts less of its book behind proven specialists than 64% of graded funds.
Bottom 20%
● Bottom 40%
Middle
Top 40%
Top 20%
That has mattered: over the past 2.7 years, funds with this little specialist backing trailed top-rung funds by about 3.8 points per quarter and beat the S&P in only 22% of fund-quarters. If it also charges an active fee, the higher-graded alternatives deserve a look.
2,825 graded funds · 2.7 years of filings, measured as they were published · evidence, not advice
The grade scores this fund's specialist share — the slice that overlaps what the top 1% of proven funds are building. We ignore index ballast and names outside our edge on purpose: that slice is small, and it's what decides the outcome.
Conviction exposure
10.3%
of the book in specialist-converged names
Late-stage weight
46.3%
of the book in Crowded or Fading names
Active share
98.6%
how far it strays from the index
The best grades have beaten the worst by about +5% a year since we began grading. The gap held in 9 out of 10 months. Measured on filings as they were published, no hindsight.
Inside the book — top names by stage · as of 2026-09-09
We email you the day it crosses 50% crowded, and where you stand every month.
Graded monthly from point-in-time filings. A description of where the money sits, not a recommendation. Evidence, not advice.
The read · what to do with it
Baron Focused Growth Fund earns an A grade and ranks 70 of 440 graded funds, with specialists building early positions in MTN, FDS, and IOT. The concern is that nearly a quarter of the portfolio sits in fading or crowded names like TSLA, MSCI, and IDXX, where proven specialists are walking away. At 46 percent late-stage weight, the early promise is real but the exit signals deserve attention.
→ Watch TSLA, MSCI, and IDXX closely, as specialists are actively leaving all three and combined they represent over 15 percent of the fund.
→ Note that MTN, FDS, and IOT are early-stage positions where specialists are still building, which is where the fund's A grade is being earned.
Support leaving these positions
Read from today's disclosed book. Evidence, not advice.
The evidence base updates this week.
The specialists — not the whales — are already positioned for what comes next. Stop finding out last.
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