# EDGAR Filing Document

**Accession Number:** 0001217673
**File Stem:** 0001752724-23-049943
**Filing Date:** 2023-3
**Character Count:** 8916
**Document Hash:** 460bc2322857a85bfa2f12190bf827cb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-049943.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001752724-23-049943

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230301

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BARON SELECT FUNDS
- **CENTRAL INDEX KEY:** 0001217673
- **IRS NUMBER:** 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:** 23691967

**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 WealthBuilder Fund (Series ID: S000060172)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000196932 | Retail Shares        | BWBFX           |
| C000196933 | Institutional Shares | BWBIX           |
| C000198571 | TA Shares            | BWBTX           |

## 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 WealthBuilder Fund

- **b. EDGAR series identifier (if any):** S000060172

- **c. LEI of Series:** 549300732T8U7TCS9Y43

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

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $427105050.28

**Total Liabilities:** $165286.35

**Net Assets:** $426939763.93

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000198571 | 5.91%                | 3.63%                | -7.85%               |
| Class ID C000196933 | 5.98%                | 3.56%                | -7.85%               |
| Class ID C000196932 | 5.90%                | 3.60%                | -7.87%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-304235.53              | $25549574.28                               |
| Month 2  | $-610131.49              | $16893112.91                               |
| Month 3  | $-1979668.57             | $-41170841.40                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Baron Discovery Fund            | Baron Discovery Fund            | CUSIP: 068278852<br>LEI: 549300BBGGOLONVYLL69 | Long             | EC               | RF                | US        |    896713 | NS      | $20489893.58  | 4.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Baron Real Estate Income Fund   | Baron Real Estate Income Fund   | CUSIP: 06828M736<br>LEI: 549300EWYY8GKC701E67 | Long             | EC               | RF                | US        |    779345 | NS      | $10014584.92  | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Baron Small Cap Fund            | Baron Small Cap Fund            | CUSIP: 068278803<br>LEI: 549300J4GU34YVCWNB33 | Long             | EC               | RF                | US        |   2081898 | NS      | $55128671.99  | 12.91%            |  |  |  | No            |                  1 | On Loan: No      |
| Baron Partners Fund             | Baron Partners Fund             | CUSIP: 06828M405<br>LEI: 5493002YV1IT31ORPG23 | Long             | EC               | RF                | US        |    453616 | NS      | $52551420.44  | 12.31%            |  |  |  | No            |                  1 | On Loan: No      |
| Baron Growth Fund               | Baron Growth Fund               | CUSIP: 068278704<br>LEI: 5493003RB1W6V2NH4T78 | Long             | EC               | RF                | US        |    754708 | NS      | $67538775.07  | 15.82%            |  |  |  | No            |                  1 | On Loan: No      |
| Baron International Growth Fund | Baron International Growth Fund | CUSIP: 06828M603<br>LEI: 549300FU1GI99J4NKZ96 | Long             | EC               | RF                | US        |    603813 | NS      | $14666606.06  | 3.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Baron Global Advantage Fund     | Baron Global Advantage Fund     | CUSIP: 06828M835<br>LEI: 549300H23AWQ1PSUDU58 | Long             | EC               | RF                | US        |    599756 | NS      | $15041885.70  | 3.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Baron Asset Fund                | Baron Asset Fund                | CUSIP: 068278605<br>LEI: 54930015OV8URGQ4FJ88 | Long             | EC               | RF                | US        |    641691 | NS      | $58836667.69  | 13.78%            |  |  |  | No            |                  1 | On Loan: No      |
| Baron Real Estate Fund          | Baron Real Estate Fund          | CUSIP: 06828M801<br>LEI: 549300CF6DJFQ0S5V274 | Long             | EC               | RF                | US        |    904922 | NS      | $25998416.01  | 6.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Baron Fifth Avenue Growth Fund  | Baron Fifth Avenue Growth Fund  | CUSIP: 068278878<br>LEI: 549300RUQIM7AB0VG234 | Long             | EC               | RF                | US        |    563068 | NS      | $15490013.61  | 3.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Baron Durable Advantage Fund    | Baron Durable Advantage Fund    | CUSIP: 068278761<br>LEI: 549300IPOVB9Y5C8N774 | Long             | EC               | RF                | US        |    691881 | NS      | $10737995.46  | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Baron Focused Growth Fund       | Baron Focused Growth Fund       | CUSIP: 06828M504<br>LEI: 549300GVW8GCMDR04865 | Long             | EC               | RF                | US        |    885488 | NS      | $26396407.27  | 6.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Baron Health Care Fund          | Baron Health Care Fund          | CUSIP: 06828M660<br>LEI: 549300NWPB2QRJSADM21 | Long             | EC               | RF                | US        |    776867 | NS      | $13905922.93  | 3.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Baron Opportunity Fund          | Baron Opportunity Fund          | CUSIP: 068278886<br>LEI: 549300LI07XXLQJOMB12 | Long             | EC               | RF                | US        |    633456 | NS      | $15868080.26  | 3.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Baron Emerging Markets Fund     | Baron Emerging Markets Fund     | CUSIP: 06828M876<br>LEI: 549300K626NYG7JN7Q83 | Long             | EC               | RF                | US        |   1022156 | NS      | $13328919.61  | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Baron FinTech Fund              | Baron FinTech Fund              | CUSIP: 06828M637<br>LEI: 549300GJT2F1VTB1XT98 | Long             | EC               | RF                | US        |    983442 | NS      | $10985050.42  | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-20

**Name of Applicant:** BARON SELECT FUNDS

**Signature:** Peggy Wong

**Name of Signer:** Peggy Wong

**Title:** Chief Financial Officer and Treasurer