Baron's billionaire founder, Ron Baron, is known for long-term bets on companies and an optimistic world view.
Trump uses 11 Baron vehicles with different investment strategies, including small-cap stocks, real estate and emerging markets. Nine of the funds lost money in 2015, with one energy and resources vehicle falling nearly 32 percent, according to data compiled by Morningstar. Nine are down this year through March 22 with single-digit losses.
Baron's long-term track record is better. The firm's best-known Baron Growth Fund has gained an average of about 8.6 percent annually over the last five years.
Paulson's funds have produced a mixed performance in recent years. Led by New York billionaire John Paulson, the firm became famous for its prescient bet on the collapse of the subprime mortgage market leading up to the financial crisis.
But in 2015, the three Paulson funds used by Trump all fell, according to data provided by an investor to Reuters. One of the funds, the Paulson Advantage Plus fund, had declined an average of about 22 percent every year over the last five years, according to a confidential fund report seen by Reuters.
Trump's filing to the FEC lists myriad business ventures, including holdings in hotels and golf properties, as well as individual stocks such as Apple Inc, Goldman Sachs and Altria Group. (Click here for filing: https://www.scribd.com/doc/272297762/Donald-Trump-s-Financial-Disclosures)
Trump told Reuters his stock picks have done well recently.
"I bought them low and I sold them high," he said, referring to a series of sales in January 2014 that netted more than $27 million.
"It was very good timing," he added. "I hit the market exactly perfectly."