# EDGAR Filing Document

**Accession Number:** 0001217673
**File Stem:** 0001410368-26-021327
**Filing Date:** 2026-3
**Character Count:** 12843
**Document Hash:** acdcb9fbfa3ae06246fd56e4cc08bb9d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-021327.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0001410368-26-021327

**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:** 26704670

**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 Partners Fund (Series ID: S000000588)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000001642 | Retail Shares        | BPTRX           |
| C000077805 | Institutional Shares | BPTIX           |
| C000174760 | R6 Shares            | BPTUX           |

## 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 Partners Fund

- **b. EDGAR series identifier (if any):** S000000588

- **c. LEI of Series:** 5493002YV1IT31ORPG23

**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:** $10889863900.63

**Total Liabilities:** $1207687989.61

**Net Assets:** $9682175911.02

**Cash Not Reported:** $254228.13

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000001642 | -1.83%               | 0.31%                | 20.84%               |
| Class ID C000077805 | -1.81%               | 0.33%                | 20.87%               |
| Class ID C000174760 | -1.81%               | 0.33%                | 20.87%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $66933400.54             | $-207239503.95                             |
| Month 2  | $0.00                    | $31917929.80                               |
| Month 3  | $0.00                    | $1665807614.01                             |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Choice Hotels International Inc   | Choice Hotels International Inc   | CUSIP: 169905106<br>LEI: 5493003CYRY5RFGTIR97 | Long             | EC               | CORP              | US        |   2055000 | NS      | $195759300.00  | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CoStar Group Inc                  | CoStar Group Inc                  | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Long             | EC               | CORP              | US        |   6865000 | NS      | $461602600.00  | 4.77%             |  |  |  | No            |                  1 | On Loan: No      |
| FactSet Research Systems Inc      | FactSet Research Systems Inc      | CUSIP: 303075105<br>LEI: 549300ZSJE7NBK6K9P30 | Long             | EC               | CORP              | US        |   1300000 | NS      | $377247000.00  | 3.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Figma Inc                         | Figma Inc                         | CUSIP: 316841105<br>LEI: 254900273Q0J4Z65HU28 | Long             | EC               | CORP              | US        |    476412 | NS      | $17803516.44   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties Inc | Gaming and Leisure Properties Inc | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               |  | US        |   1775000 | NS      | $79324750.00   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Gartner Inc                       | Gartner Inc                       | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Long             | EC               | CORP              | US        |   1230000 | NS      | $310304400.00  | 3.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Guidewire Software Inc            | Guidewire Software Inc            | CUSIP: 40171V100<br>LEI: 549300WXSG0J8IXZCK32 | Long             | EC               | CORP              | US        |    880000 | NS      | $176888800.00  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| HEICO Corp                        | HEICO Corp                        | CUSIP: 422806109<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |    125625 | NS      | $40650993.75   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| HEICO Corp                        | HEICO Corp                        | CUSIP: 422806208<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |    116875 | NS      | $29502756.25   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Hyatt Hotels Corp                 | Hyatt Hotels Corp                 | CUSIP: 448579102<br>LEI: T27JQIMTYSH41TCD5186 | Long             | EC               | CORP              | US        |   3310000 | NS      | $530659200.00  | 5.48%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories Inc            | IDEXX Laboratories Inc            | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |    620000 | NS      | $419448600.00  | 4.33%             |  |  |  | No            |                  1 | On Loan: No      |
| MSCI Inc                          | MSCI Inc                          | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               | CORP              | US        |    800000 | NS      | $458984000.00  | 4.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Red Rock Resorts Inc              | Red Rock Resorts Inc              | CUSIP: 75700L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2000000 | NS      | $123900000.00  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp/The           | Charles Schwab Corp/The           | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |   4400000 | NS      | $439604000.00  | 4.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                         | Tesla Inc                         | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |   6455000 | NS      | $2902942600.00 | 29.98%            |  |  |  | No            |                  1 | On Loan: No      |
| Vail Resorts Inc                  | Vail Resorts Inc                  | CUSIP: 91879Q109<br>LEI: 529900PSZHRNU9HKH870 | Long             | EC               | CORP              | US        |   1560000 | NS      | $207168000.00  | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Space Exploration Technologies    | SPACE EXPLORATION TECHNOLOGIES    | CUSIP: 000000000<br>LEI: 549300B9WLO96RQCXP87 | Long             | EC               | CORP              | US        |   2216310 | NS      | $933066510.00  | 9.64%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Space Exploration Technologies    | SPACE EXPLORATION TECHNOLOGIES    | CUSIP: 000000000<br>LEI: 549300B9WLO96RQCXP87 | Long             | EC               | CORP              | US        |    302210 | NS      | $127230410.00  | 1.31%             |  |  |  | Yes           |                  3 | On Loan: No      |
| NORTHVOLT AB                      | NORTHVOLT AB                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |  21213656 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| STUBHUB, HOLDINGS INC.            | STUBHUB, HOLDINGS INC.            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    988065 | NS      | $13368519.45   | 0.14%             |  |  |  | Yes           |                  1 | On Loan: No      |
| X.AI HOLDINGS CLASS A COMMON      | X.AI HOLDINGS CLASS A COMMON      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1665754 | NS      | $125697796.84  | 1.30%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Space Exploration Technologies    | SPACE EXPLORATION TECHNOLOGIES    | CUSIP: 000000000<br>LEI: 549300B9WLO96RQCXP87 | Long             | EP               | CORP              | US        |    311111 | NS      | $1309777310.00 | 13.53%            |  |  |  | Yes           |                  3 | On Loan: No      |
| Space Exploration Technologies    | SPACE EXPLORATION TECHNOLOGIES    | CUSIP: 000000000<br>LEI: 549300B9WLO96RQCXP87 | Long             | EP               | CORP              | US        |    131657 | NS      | $554275970.00  | 5.72%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SPACE EXPLORATION TECH CORP       | SPACE EXPLORATION TECH CORP       | CUSIP: 000000000<br>LEI: 549300B9WLO96RQCXP87 | Long             | EP               | CORP              | US        |     44146 | NS      | $185854660.00  | 1.92%             |  |  |  | Yes           |                  3 | On Loan: No      |
| X.AI HOLDINGS CORP.               | X.AI HOLDINGS CORP.               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    331301 | NS      | $24999973.46   | 0.26%             |  |  |  | No            |                  3 | On Loan: No      |
| Arch Capital Group Ltd            | Arch Capital Group Ltd            | CUSIP: 000000000<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EC               | CORP              | BM        |   6175000 | NS      | $592306000.00  | 6.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Spotify Technology SA             | Spotify Technology SA             | CUSIP: 000000000<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | LU        |    225000 | NS      | $130659750.00  | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Birkenstock Holding Plc           | Birkenstock Holding Plc           | CUSIP: 000000000<br>LEI: 529900CQ8LQKQ7LIT631 | Long             | EC               | CORP              | JE        |   2575000 | NS      | $105317500.00  | 1.09%             |  |  |  | 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