# EDGAR Filing Document

**Accession Number:** 0001217673
**File Stem:** 0001410368-26-021329
**Filing Date:** 2026-3
**Character Count:** 37043
**Document Hash:** df6c611000af5dd64474cfb7b4f6ed67
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-021329.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0001410368-26-021329

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260302

**DATE AS OF CHANGE**: 20260302

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BARON SELECT FUNDS
- **CENTRAL INDEX KEY:** 0001217673

**ORGANIZATION NAME:**
- **EIN:** 161651307
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21296
- **FILM NUMBER:** 26704672

**BUSINESS ADDRESS:**
- **STREET 1:** 767 FIFTH AVE
- **STREET 2:** 49TH FL
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10153
- **BUSINESS PHONE:** 2125832000

**MAIL ADDRESS:**
- **STREET 1:** 767 FIFTH AVE
- **STREET 2:** 49TH FL
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10153

## Series and Classes Contracts Data

### Baron International Growth Fund (Series ID: S000024707)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000073358 | Retail Shares        | BIGFX           |
| C000077807 | Institutional Shares | BINIX           |
| C000174762 | R6 Shares            | BIGUX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** BARON SELECT FUNDS

- **b. Investment Company Act file number:** 811-21296

- **c. CIK number of Registrant:** 0001217673

- **d. LEI of Registrant:** 549300U6KWVIU0PW2H88

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 767 FIFTH AVE

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10153

  - **Telephone number:** 212-583-2000

**Item A.2. Information about the Series.**

- **a. Name of Series:** Baron International Growth Fund

- **b. EDGAR series identifier (if any):** S000024707

- **c. LEI of Series:** 549300FU1GI99J4NKZ96

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $328165887.05

**Total Liabilities:** $1277990.17

**Net Assets:** $326887896.88

**Cash Not Reported:** $8027463.06

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000073358 | -1.31%               | -2.32%               | 0.61%                |
| Class ID C000077807 | -1.28%               | -2.30%               | 0.62%                |
| Class ID C000174762 | -1.28%               | -2.30%               | 0.59%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2146259.87              | $-7065954.57                               |
| Month 2  | $10016945.66             | $-17911935.15                              |
| Month 3  | $138714.49               | $1564493.06                                |

### Schedule of Portfolio Investments

| Name                                                | Title                                               | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Agilent Technologies Inc                            | Agilent Technologies Inc                            | CUSIP: 00846U101<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | EC               | CORP              | US        |     38777 | NS      | $5276386.39   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd                              | Agnico Eagle Mines Ltd                              | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |     14922 | NS      | $2529726.66   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd                           | Alibaba Group Holding Ltd                           | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |     25758 | NS      | $3775607.64   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| BAE Systems PLC                                     | BAE Systems PLC                                     | CUSIP: 000000000<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | EC               | CORP              | GB        |    151656 | NS      | $3490371.83   | 1.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Argenx SE                                           | Argenx SE                                           | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |     13049 | NS      | $10973556.55  | 3.36%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC                                     | AstraZeneca PLC                                     | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |     73025 | NS      | $6713188.25   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Software Inc/Canada                   | Constellation Software Inc/Canada                   | CUSIP: 21037X100<br>LEI: 549300B6PYHMCTDWQV29 | Long             | EC               | CORP              | CA        |      2238 | NS      | $5383070.34   | 1.65%             |  |  |  | Yes           |                  1 | On Loan: No      |
| CONSTELLATION SOFTWARE INC                          | CONSTELLATION SOFTWARE INC                          | CUSIP: 000000000<br>LEI: 549300B6PYHMCTDWQV29 | N/A              | DE               |  | CA        |      5029 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Coupang Inc                                         | Coupang Inc                                         | CUSIP: 22266T109<br>LEI: 549300XR4L1D80AK4W76 | Long             | EC               | CORP              | US        |     82449 | NS      | $1944971.91   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Full Truck Alliance Co Ltd                          | Full Truck Alliance Co Ltd                          | CUSIP: 35969L108<br>LEI: 984500884LB1DP8DAC57 | Long             | EC               | CORP              | KY        |    321012 | NS      | $3444458.76   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| GDS Holdings Ltd                                    | GDS Holdings Ltd                                    | CUSIP: 36165L108<br>LEI: 391200MGV8DDCHTN2R77 | Long             | EC               | CORP              | KY        |     50498 | NS      | $1762380.20   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbus SE                                           | Airbus SE                                           | CUSIP: 000000000<br>LEI: MINO79WLOO247M1IL051 | Long             | EC               | CORP              | NL        |     23266 | NS      | $5402918.34   | 1.65%             |  |  |  | No            |                  2 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitton SE                 | LVMH Moet Hennessy Louis Vuitton SE                 | CUSIP: 000000000<br>LEI: IOG4E947OATN0KJYSD45 | Long             | EC               | CORP              | FR        |      2411 | NS      | $1817256.71   | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Pernod Ricard SA                                    | Pernod Ricard SA                                    | CUSIP: 000000000<br>LEI: 52990097YFPX9J0H5D87 | Long             | EC               | CORP              | FR        |      8875 | NS      | $759933.31    | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Sberbank of Russia PJSC                             | Sberbank of Russia PJSC                             | CUSIP: 000000000<br>LEI: 549300WE6TAF5EEWQS81 | Long             | EC               | CORP              | RU        |    487800 | NS      | $357.06       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Lundin Mining Corp                                  | Lundin Mining Corp                                  | CUSIP: 550372106<br>LEI: 549300FQDIM6C8HTN269 | Long             | EC               | CORP              | CA        |    411795 | NS      | $8850644.79   | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Ajinomoto Co Inc                                    | Ajinomoto Co Inc                                    | CUSIP: 000000000<br>LEI: 353800UT0TLROREPIC92 | Long             | EC               | CORP              | JP        |    241280 | NS      | $5100656.33   | 1.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi UFJ Financial Group Inc                  | Mitsubishi UFJ Financial Group Inc                  | CUSIP: 606822104<br>LEI: 353800V2V8PUY9TK3E06 | Long             | EC               | CORP              | JP        |    422964 | NS      | $6708209.04   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Industries Ltd                             | Reliance Industries Ltd                             | CUSIP: 000000000<br>LEI: 5493003UOETFYRONLG31 | Long             | EC               | CORP              | IN        |    186781 | NS      | $3268408.82   | 1.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Lynas Rare Earths Ltd                               | Lynas Rare Earths Ltd                               | CUSIP: 000000000<br>LEI: 529900SGT9M1FJPXXI35 | Long             | EC               | CORP              | AU        |    548019 | NS      | $4494540.34   | 1.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Centum Electronics Ltd                              | Centum Electronics Ltd                              | CUSIP: 000000000<br>LEI: 3358005AAWQ82RBG3166 | Long             | EC               | CORP              | IN        |     93973 | NS      | $2440103.97   | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Kingdee International Software Group Co Ltd         | Kingdee International Software Group Co Ltd         | CUSIP: 000000000<br>LEI: 529900SWRZN94C5SZO63 | Long             | EC               | CORP              | KY        |   1147691 | NS      | $1967573.01   | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| JM Financial Ltd                                    | JM Financial Ltd                                    | CUSIP: 000000000<br>LEI: 254900XWK81ULQY0IE29 | Long             | EC               | CORP              | IN        |    966962 | NS      | $1615954.24   | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| HD Korea Shipbuilding & Offshore Engineering Co Ltd | HD Korea Shipbuilding & Offshore Engineering Co Ltd | CUSIP: 000000000<br>LEI: 988400DPTJ9KH5R6W540 | Long             | EC               | CORP              | KR        |     17967 | NS      | $5069777.11   | 1.55%             |  |  |  | No            |                  2 | On Loan: No      |
| SK hynix Inc                                        | SK hynix Inc                                        | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |      4426 | NS      | $2004437.22   | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Keyence Corp                                        | Keyence Corp                                        | CUSIP: 000000000<br>LEI: 529900M7PQBS7A89DZ11 | Long             | EC               | CORP              | JP        |     13439 | NS      | $4861218.39   | 1.49%             |  |  |  | No            |                  2 | On Loan: No      |
| BYD Co Ltd                                          | BYD Co Ltd                                          | CUSIP: 000000000<br>LEI: 5299005557VL7ULJ7A69 | Long             | EC               | CORP              | CN        |    120806 | NS      | $1476340.69   | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Financial Group Inc                 | Sumitomo Mitsui Financial Group Inc                 | CUSIP: 000000000<br>LEI: 35380028MYWPB6AUO129 | Long             | EC               | CORP              | JP        |    221370 | NS      | $7119571.92   | 2.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsui Fudosan Co Ltd                               | Mitsui Fudosan Co Ltd                               | CUSIP: 000000000<br>LEI: 353800ND4ZKNZDYKMF33 | Long             | EC               | CORP              | JP        |    197100 | NS      | $2239897.79   | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |
| Nomura Holdings Inc                                 | Nomura Holdings Inc                                 | CUSIP: 000000000<br>LEI: 549300B3CEAHYG7K8164 | Long             | EC               | CORP              | JP        |    725798 | NS      | $6046238.30   | 1.85%             |  |  |  | No            |                  2 | On Loan: No      |
| Novo Nordisk A/S                                    | Novo Nordisk A/S                                    | CUSIP: 670100205<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |     27426 | NS      | $1395434.88   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Exchange Group Inc                            | Japan Exchange Group Inc                            | CUSIP: 000000000<br>LEI: 353800578ADEGIJTVW07 | Long             | EC               | CORP              | JP        |    489104 | NS      | $5220478.06   | 1.60%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electronics Co Ltd                          | Samsung Electronics Co Ltd                          | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |     30233 | NS      | $2533975.57   | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd           | Taiwan Semiconductor Manufacturing Co Ltd           | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    290330 | NS      | $14271826.02  | 4.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Tokyo Electron Ltd                                  | Tokyo Electron Ltd                                  | CUSIP: 000000000<br>LEI: 549300H5LSF8DP3RIJ34 | Long             | EC               | CORP              | JP        |     27540 | NS      | $6133908.39   | 1.88%             |  |  |  | No            |                  2 | On Loan: No      |
| Nestle SA                                           | Nestle SA                                           | CUSIP: 000000000<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |     41363 | NS      | $4105654.98   | 1.26%             |  |  |  | No            |                  2 | On Loan: No      |
| EssilorLuxottica SA                                 | EssilorLuxottica SA                                 | CUSIP: 000000000<br>LEI: 549300M3VH1A3ER1TB49 | Long             | EC               | CORP              | FR        |      8770 | NS      | $2773054.76   | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                      | BNP Paribas SA                                      | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | EC               | CORP              | FR        |     94150 | NS      | $8907246.64   | 2.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Pony AI Inc                                         | Pony AI Inc                                         | CUSIP: 732908108<br>LEI: 9845006P7613D2A61368 | Long             | EC               | CORP              | KY        |    112885 | NS      | $1636832.50   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Sociedad Quimica y Minera de Chile SA               | Sociedad Quimica y Minera de Chile SA               | CUSIP: 833635105<br>LEI: TJ88LXZZW5PWIN93ZC81 | Long             | EC               | CORP              | CL        |     27224 | NS      | $1873011.20   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Holdings Ltd                                | Tencent Holdings Ltd                                | CUSIP: 88032Q109<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |     28886 | NS      | $2211223.30   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Music Entertainment Group                   | Tencent Music Entertainment Group                   | CUSIP: 88034P109<br>LEI: 213800XTZK2GOHQTYK41 | Long             | EC               | CORP              | KY        |     93663 | NS      | $1641912.39   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| GMR Power and Urban Infra Ltd                       | GMR Power and Urban Infra Ltd                       | CUSIP: 000000000<br>LEI: 335800T1CSFF6PNMGZ84 | Long             | EC               | CORP              | IN        |   1100621 | NS      | $1364588.95   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| REFUNDABLE DEPOSIT SHENZHEN                         | REFUNDABLE DEPOSIT SHENZHEN                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | CN        |      3020 | NS      | $432.22       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Zai Lab Ltd                                         | Zai Lab Ltd                                         | CUSIP: 98887Q104<br>LEI: 549300P2UYQ9U5LY1T58 | Long             | EC               | CORP              | KY        |     90659 | NS      | $1599224.76   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Brunello Cucinelli SpA                              | Brunello Cucinelli SpA                              | CUSIP: 000000000<br>LEI: 5493003CX2RZ0FOBH256 | Long             | EC               | CORP              | IT        |     19795 | NS      | $2270439.50   | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |
| Cie Financiere Richemont SA                         | Cie Financiere Richemont SA                         | CUSIP: 000000000<br>LEI: 549300YIPGJ6UX2QPS51 | Long             | EC               | CORP              | CH        |      9135 | NS      | $1969971.10   | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| Godrej Properties Ltd                               | Godrej Properties Ltd                               | CUSIP: 000000000<br>LEI: 335800KM3Y5NZWXOE183 | Long             | EC               | CORP              | IN        |     37690 | NS      | $840848.92    | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Industria de Diseno Textil SA                       | Industria de Diseno Textil SA                       | CUSIP: 000000000<br>LEI: 549300TTCXZOGZM2EY83 | Long             | EC               | CORP              | ES        |     50191 | NS      | $3310832.34   | 1.01%             |  |  |  | No            |                  2 | On Loan: No      |
| InterGlobe Aviation Ltd                             | InterGlobe Aviation Ltd                             | CUSIP: 000000000<br>LEI: 33580079R8SLLO23XD19 | Long             | EC               | CORP              | IN        |     45494 | NS      | $2566107.91   | 0.79%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Nippon Life India Asset Management Ltd              | Nippon Life India Asset Management Ltd              | CUSIP: 000000000<br>LEI: 335800ZQXV958RZSRU89 | Long             | EC               | CORP              | IN        |    198879 | NS      | $1948224.07   | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| Eternal Ltd                                         | Eternal Ltd                                         | CUSIP: 000000000<br>LEI: 335800T4VOF9ETHF8W59 | Long             | EC               | CORP              | IN        |    650563 | NS      | $2016083.01   | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| HD Hyundai Heavy Industries Co Ltd                  | HD Hyundai Heavy Industries Co Ltd                  | CUSIP: 000000000<br>LEI: 988400CAR8W9URQLGF30 | Long             | EC               | CORP              | KR        |      7287 | NS      | $2568295.70   | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Bharti Airtel Ltd                                   | Bharti Airtel Ltd                                   | CUSIP: 000000000<br>LEI: 335800KQ1FPKOQ84OR26 | Long             | EC               | CORP              | IN        |    226104 | NS      | $4256944.75   | 1.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Kaynes Technology India Ltd                         | Kaynes Technology India Ltd                         | CUSIP: 000000000<br>LEI: 335800BMPIF3PQ2IPI37 | Long             | EC               | CORP              | IN        |     26379 | NS      | $1177975.81   | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Linde PLC                                           | Linde PLC                                           | CUSIP: 000000000<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |     13926 | NS      | $5917903.56   | 1.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Jio Financial Services Ltd                          | Jio Financial Services Ltd                          | CUSIP: 000000000<br>LEI: 3358003O268Q1OGBQR42 | Long             | EC               | CORP              | IN        |    383174 | NS      | $1258472.46   | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Piraeus Bank SA                                     | Piraeus Bank SA                                     | CUSIP: 000000000<br>LEI: 213800OYHR1MPQ5VJL60 | Long             | EC               | CORP              | GR        |    394791 | NS      | $3152133.22   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Localiza Rent a Car SA                              | Localiza Rent a Car SA                              | CUSIP: 000000000<br>LEI: 984500C442A7E0CD4D11 | Long             | EC               | CORP              | BR        |    206958 | NS      | $1637979.31   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| TotalEnergies SE                                    | TotalEnergies SE                                    | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |     84919 | NS      | $5536548.07   | 1.69%             |  |  |  | No            |                  2 | On Loan: No      |
| Experian PLC                                        | Experian PLC                                        | CUSIP: 000000000<br>LEI: 635400RXXHHYT1JTSZ26 | Long             | EC               | CORP              | JE        |    129580 | NS      | $5842316.09   | 1.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Symrise AG                                          | Symrise AG                                          | CUSIP: 000000000<br>LEI: 529900D82I6R9601CF26 | Long             | EC               | CORP              | DE        |     28258 | NS      | $2289506.05   | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| AMG Critical Materials NV                           | AMG Critical Materials NV                           | CUSIP: 000000000<br>LEI: 5493006MN6OH67U2YI74 | Long             | EC               | CORP              | NL        |    128087 | NS      | $4267094.75   | 1.31%             |  |  |  | No            |                  2 | On Loan: No      |
| ISC Co Ltd                                          | ISC Co Ltd                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     25468 | NS      | $1967875.28   | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| SMS Co Ltd                                          | SMS Co Ltd                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    152700 | NS      | $1314965.32   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| eMemory Technology Inc                              | eMemory Technology Inc                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     20635 | NS      | $1133300.72   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Park Systems Corp                                   | Park Systems Corp                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     10589 | NS      | $1537686.94   | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of Ireland Group PLC                           | Bank of Ireland Group PLC                           | CUSIP: 000000000<br>LEI: 635400C8EK6DRI12LJ39 | Long             | EC               | CORP              | IE        |    421578 | NS      | $8062805.16   | 2.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Trent Ltd                                           | Trent Ltd                                           | CUSIP: 000000000<br>LEI: 335800IYA8EHI7MW7G59 | Long             | EC               | CORP              | IN        |     32443 | NS      | $1547233.92   | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Contemporary Amperex Technology Co Ltd              | Contemporary Amperex Technology Co Ltd              | CUSIP: 000000000<br>LEI: 300300KINDY1K0E9I032 | Long             | EC               | CORP              | CN        |     63774 | NS      | $3353398.63   | 1.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Prosus NV                                           | Prosus NV                                           | CUSIP: 000000000<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | EC               | CORP              | NL        |     41990 | NS      | $2599976.86   | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Kuaishou Technology                                 | Kuaishou Technology                                 | CUSIP: 000000000<br>LEI: 300300FCDZBE6UP9ED24 | Long             | EC               | CORP              | KY        |    236313 | NS      | $1953459.84   | 0.60%             |  |  |  | Yes           |                  2 | On Loan: No      |
| eDreams ODIGEO SA                                   | eDreams ODIGEO SA                                   | CUSIP: 000000000<br>LEI: 959800Y8LQ5MR2YZ4N96 | Long             | EC               | CORP              | ES        |    686780 | NS      | $3210714.80   | 0.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Max Healthcare Institute Ltd                        | Max Healthcare Institute Ltd                        | CUSIP: 000000000<br>LEI: 3358005LALYV4GZOYF67 | Long             | EC               | CORP              | IN        |    195730 | NS      | $2276617.78   | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| Epiroc AB                                           | Epiroc AB                                           | CUSIP: 000000000<br>LEI: 5493004Q73OEYW1SPE91 | Long             | EC               | CORP              | SE        |    239084 | NS      | $5389399.72   | 1.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Tencent Holdings Ltd                                | Tencent Holdings Ltd                                | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |     33822 | NS      | $2595619.73   | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| InPost SA                                           | InPost SA                                           | CUSIP: 000000000<br>LEI: 2221003M23QLERR89585 | Long             | EC               | CORP              | LU        |    281347 | NS      | $3457393.74   | 1.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Euronext NV                                         | Euronext NV                                         | CUSIP: 000000000<br>LEI: 724500QJ4QSZ3H9QU415 | Long             | EC               | CORP              | NL        |     21180 | NS      | $3181614.29   | 0.97%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Eurofins Scientific SE                              | Eurofins Scientific SE                              | CUSIP: 000000000<br>LEI: 529900JEHFM47DYY3S57 | Long             | EC               | CORP              | LU        |     65406 | NS      | $4783035.74   | 1.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Universal Music Group NV                            | Universal Music Group NV                            | CUSIP: 000000000<br>LEI: 724500GJBUL3D9TW9Y18 | Long             | EC               | CORP              | NL        |    199193 | NS      | $5192928.42   | 1.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Zhejiang Shuanghuan Driveline Co Ltd                | Zhejiang Shuanghuan Driveline Co Ltd                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    358930 | NS      | $2437168.83   | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Recruit Holdings Co Ltd                             | Recruit Holdings Co Ltd                             | CUSIP: 000000000<br>LEI: 353800R2LRSMVVC4I806 | Long             | EC               | CORP              | JP        |     16500 | NS      | $927160.63    | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Localiza Rent a Car SA                              | Localiza Rent a Car SA                              | CUSIP: 000000000<br>LEI: 984500C442A7E0CD4D11 | Long             | EP               | CORP              | BR        |      7959 | NS      | $60276.20     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| WiseTech Global Ltd                                 | WiseTech Global Ltd                                 | CUSIP: 000000000<br>LEI: 254900VE3AF301Q85K83 | Long             | EC               | CORP              | AU        |     48311 | NS      | $2196436.28   | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                    | Deutsche Bank AG                                    | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | EC               | CORP              | DE        |    202402 | NS      | $7804621.12   | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Afya Ltd                                            | Afya Ltd                                            | CUSIP: 000000000<br>LEI: 54930008Y7J8Z1BSDT57 | Long             | EC               | CORP              | KY        |     86059 | NS      | $1326169.19   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Arch Capital Group Ltd                              | Arch Capital Group Ltd                              | CUSIP: 000000000<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EC               | CORP              | BM        |     71655 | NS      | $6873147.60   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Credicorp Ltd                                       | Credicorp Ltd                                       | CUSIP: 000000000<br>LEI: 529900UYAEYQCQ2BKB17 | Long             | EC               | CORP              | BM        |     19865 | NS      | $5701255.00   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| XP Inc                                              | XP Inc                                              | CUSIP: 000000000<br>LEI: 5493008KDA8NBZRJST80 | Long             | EC               | CORP              | KY        |     54960 | NS      | $899695.20    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| On Holding AG                                       | On Holding AG                                       | CUSIP: 000000000<br>LEI: 506700FB3467B9W95526 | Long             | EC               | CORP              | CH        |     54377 | NS      | $2527442.96   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| CyberArk Software Ltd                               | CyberArk Software Ltd                               | CUSIP: 000000000<br>LEI: 529900YEXNDM894PWS93 | Long             | EC               | CORP              | IL        |      8105 | NS      | $3615316.30   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Oddity Tech Ltd                                     | Oddity Tech Ltd                                     | CUSIP: 000000000<br>LEI: 254900QH12XZS53G0V57 | Long             | EC               | CORP              | IL        |     85794 | NS      | $3447202.92   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Wix.com Ltd                                         | Wix.com Ltd                                         | CUSIP: 000000000<br>LEI: 5493008P6N29Q1AG9464 | Long             | EC               | CORP              | IL        |      8974 | NS      | $932308.86    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Stevanato Group SpA                                 | Stevanato Group SpA                                 | CUSIP: 000000000<br>LEI: 81560033F7E1CD477507 | Long             | EC               | CORP              | IT        |    115568 | NS      | $2325228.16   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-29

**Name of Applicant:** BARON SELECT FUNDS

**Signature:** Christopher Snively

**Name of Signer:** Christopher Snively

**Title:** Chief Financial Officer and Treasurer