Investor Ron Baron is making a killing on Tesla. Here's what else his fund is betting on

Published Thu, Feb 20 202010:19 AM ESTUpdated Thu, Feb 20 202011:23 AM EST

Billionaire investor Ron Baron is making a killing on his investment in Elon Musk's Tesla . Here's what else his firm is betting on to continue his winning streak, including some unusual names among its top picks. Baron's firm, Baron Capital, has a growth portfolio called the Baron Opportunity Fund and Tesla sits in its top 10 holdings. As of Tuesday, the fund, with about $438 million in net assets, is up 15.73% this year, beating the S & P 500 which is up about 4.7% in 2020 through Wednesday. Tesla is 5.7% of the net assets in the Opportunity Fund, as of Jan. 31. The electric-car market's 100% rally this year has certainly boosted the fund's performance. Earlier this month, Baron told CNBC that he believes Tesla's revenue could top $1 trillion in the next 10 years. Here are the top 10 holdings in the Baron Opportunity Fund. Microsoft is the top holding in the Baron Opportunity Fund, representing 7% of the fund's total assets. The software company has rallied nearly 75% in the last 12 months. E-commerce giant Amazon is the second largest position in the fund, representing a little more than 6% of the total assets. Despite heavy investment in one-day delivery and Amazon's cloud business Amazon Web Services, the stock has gained nearly 35% in the past year. Baron's growth fund also has major holdings in payment companies Mastercard and Visa, both of which have benefited from the strong U.S. consumer and the boom in electronic payments. Some of the more intriguing names on the list are Guidewire Software , Gartner and CoStar Group . Guidewire is a software platform for the insurance industry. Gartner is a global technology research and advisory firm. CoStar is a marketing and analytics firm for commercial real estate. The top 10 holdings make up about 35% of the fund's total holdings. The Opportunity Fund, which launched in 2000 and is managed by Michael Lippert, has returned about 8% annually in that time. The fund has had a volatile run losing nearly 40% in its first year but gaining more than 60% in 2009 and 40% in 2017. The fund has topped the S & P 500 12 of the past 20 years. The portfolio earned more than 40% in 2019. — With reporting from CNBC's Nate Rattner .

Ron Baron, Chairman & CEO of Baron Capital.

Adam Jeffery | CNBC

Baron's firm, Baron Capital, has a growth portfolio called the Baron Opportunity Fund and Tesla sits in its top 10 holdings. As of Tuesday, the fund, with about $438 million in net assets, is up 15.73% this year, beating the S&P 500 which is up about 4.7% in 2020 through Wednesday.

Tesla is 5.7% of the net assets in the Opportunity Fund, as of Jan. 31. The electric-car market's 100% rally this year has certainly boosted the fund's performance. Earlier this month, Baron told CNBC that he believes Tesla's revenue could top $1 trillion in the next 10 years.