# EDGAR Filing Document

**Accession Number:** 0001217673
**File Stem:** 0001752724-25-209303
**Filing Date:** 2025-8
**Character Count:** 19244
**Document Hash:** 11f3cd9a3dd8a9cc95bbcf4632b20afc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-209303.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001752724-25-209303

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250827

**DATE AS OF CHANGE**: 20250827

**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:** 251264273

**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 Technology Fund (Series ID: S000074874)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000233226 | R6 Shares            | BTEUX           |
| C000233227 | Retail Shares        | BTEEX           |
| C000233228 | Institutional Shares | BTECX           |

## 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 Technology Fund

- **b. EDGAR series identifier (if any):** S000074874

- **c. LEI of Series:** 5493002ZYIB7E46EZU12

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

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

- **b. Date as of which information is reported:** 2025-06-30

**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:** $99743767.20

**Total Liabilities:** $79195.25

**Net Assets:** $99664571.95

**Cash Not Reported:** $54.16

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000233227 | 4.41%                | 15.53%               | 8.55%                |
| Class ID C000233228 | 4.45%                | 15.54%               | 8.60%                |
| Class ID C000233226 | 4.55%                | 15.48%               | 8.55%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-662082.30              | $3053910.60                                |
| Month 2  | $677301.80               | $7815930.49                                |
| Month 3  | $2565.74                 | $7497055.62                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Nova Ltd                                  | Nova Ltd                                  | CUSIP: 000000000<br>LEI: 529900B2DSWE5V3SC292 | Long             | EC               | CORP              | IL        |      4437 | NS      | $1221062.40   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| eMemory Technology Inc                    | eMemory Technology Inc                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     11210 | NS      | $907520.72    | 0.91%             |  |  |  | No            |                  2 | On Loan: No      |
| Eternal Ltd                               | Eternal Ltd                               | CUSIP: 000000000<br>LEI: 335800T4VOF9ETHF8W59 | Long             | EC               | CORP              | IN        |    592736 | NS      | $1825506.07   | 1.83%             |  |  |  | No            |                  2 | On Loan: No      |
| Atlassian Corp                            | Atlassian Corp                            | CUSIP: 049468101<br>LEI: 549300V7ZY5P02D2MY38 | Long             | EC               | CORP              | US        |      5866 | NS      | $1191325.94   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| HPSP Co Ltd                               | HPSP Co Ltd                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     49361 | NS      | $1010433.09   | 1.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Zscaler Inc                               | Zscaler Inc                               | CUSIP: 98980G102<br>LEI: 529900MZ0RTK1BWRNF46 | Long             | EC               | CORP              | US        |      7390 | NS      | $2320016.60   | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Cloudflare Inc                            | Cloudflare Inc                            | CUSIP: 18915M107<br>LEI: 5493007DY18BGNLDWU14 | Long             | EC               | CORP              | US        |      8330 | NS      | $1631263.90   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| GDS Holdings Ltd                          | GDS Holdings Ltd                          | CUSIP: 36165L108<br>LEI: 391200MGV8DDCHTN2R77 | Long             | EC               | CORP              | KY        |     33634 | NS      | $1028191.38   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Spotify Technology SA                     | Spotify Technology SA                     | CUSIP: 000000000<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | LU        |      7528 | NS      | $5776535.52   | 5.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsara Inc                               | Samsara Inc                               | CUSIP: 79589L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     38437 | NS      | $1529023.86   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp                             | Coherent Corp                             | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |      8578 | NS      | $765243.38    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp                         | Lam Research Corp                         | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |     14568 | NS      | $1418049.12   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                            | Microsoft Corp                            | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      9108 | NS      | $4530410.28   | 4.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Fixed Income Clearing Corp                | FIXED INC CLEARING CORP.REPO              | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        |   1362970 | PA      | $1362970.32   | 1.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Axon Enterprise Inc                       | Axon Enterprise Inc                       | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |      1233 | NS      | $1020850.02   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Trade Desk Inc/The                        | Trade Desk Inc/The                        | CUSIP: 88339J105<br>LEI: 549300GXPD31VT3E0P46 | Long             | EC               | CORP              | US        |     36482 | NS      | $2626339.18   | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                               | NVIDIA Corp                               | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     76723 | NS      | $12121466.77  | 12.16%            |  |  |  | No            |                  1 | On Loan: No      |
| Duolingo Inc                              | Duolingo Inc                              | CUSIP: 26603R106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4761 | NS      | $1952105.22   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| CyberArk Software Ltd                     | CyberArk Software Ltd                     | CUSIP: 000000000<br>LEI: 529900YEXNDM894PWS93 | Long             | EC               | CORP              | IL        |      4371 | NS      | $1778472.48   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanta Services Inc                       | Quanta Services Inc                       | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |      2448 | NS      | $925539.84    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Gartner Inc                               | Gartner Inc                               | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Long             | EC               | CORP              | US        |      1914 | NS      | $773677.08    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceTitan Inc                          | ServiceTitan Inc                          | CUSIP: 81764X103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4294 | NS      | $460230.92    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Hinge Health Inc                          | Hinge Health Inc                          | CUSIP: 433313103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27613 | NS      | $1428972.75   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Guidewire Software Inc                    | Guidewire Software Inc                    | CUSIP: 40171V100<br>LEI: 549300WXSG0J8IXZCK32 | Long             | EC               | CORP              | US        |      3192 | NS      | $751556.40    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| CoStar Group Inc                          | CoStar Group Inc                          | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Long             | EC               | CORP              | US        |     14588 | NS      | $1172875.20   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                              | Broadcom Inc                              | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     30513 | NS      | $8410908.45   | 8.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                                 | Tesla Inc                                 | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      9337 | NS      | $2965991.42   | 2.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Reddit Inc                                | Reddit Inc                                | CUSIP: 75734B100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8188 | NS      | $1232867.16   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Oddity Tech Ltd                           | Oddity Tech Ltd                           | CUSIP: 000000000<br>LEI: 254900QH12XZS53G0V57 | Long             | EC               | CORP              | IL        |     15573 | NS      | $1175294.31   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow Inc                            | ServiceNow Inc                            | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |      1019 | NS      | $1047613.52   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| DraftKings Inc                            | DraftKings Inc                            | CUSIP: 26142V105<br>LEI: 2549006G33IUL6IVOD83 | Long             | EC               | CORP              | US        |     23790 | NS      | $1020353.10   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Snowflake Inc                             | Snowflake Inc                             | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |      6113 | NS      | $1367906.01   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Gitlab Inc                                | Gitlab Inc                                | CUSIP: 37637K108<br>LEI: 9845004Y40FACG81ED49 | Long             | EC               | CORP              | US        |     11549 | NS      | $520975.39    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| MNTN Inc                                  | MNTN Inc                                  | CUSIP: 55318A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     70000 | NS      | $1530900.00   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| eDreams ODIGEO SA                         | eDreams ODIGEO SA                         | CUSIP: 000000000<br>LEI: 959800Y8LQ5MR2YZ4N96 | Long             | EC               | CORP              | ES        |     87577 | NS      | $802115.05    | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| LPL Financial Holdings Inc                | LPL Financial Holdings Inc                | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |      4371 | NS      | $1638993.87   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Park Systems Corp                         | Park Systems Corp                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      4669 | NS      | $983414.06    | 0.99%             |  |  |  | No            |                  2 | On Loan: No      |
| Datadog Inc                               | Datadog Inc                               | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               | CORP              | US        |     16242 | NS      | $2181787.86   | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Monolithic Power Systems Inc              | Monolithic Power Systems Inc              | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |      1229 | NS      | $898866.02    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Shopify Inc                               | Shopify Inc                               | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |     10428 | NS      | $1202869.80   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                                 | Apple Inc                                 | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     12471 | NS      | $2558675.07   | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd | Taiwan Semiconductor Manufacturing Co Ltd | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      7884 | NS      | $288312.73    | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd | Taiwan Semiconductor Manufacturing Co Ltd | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     19922 | NS      | $4512133.78   | 4.53%             |  |  |  | No            |                  1 | On Loan: No      |
| indie Semiconductor Inc                   | indie Semiconductor Inc                   | CUSIP: 45569U101<br>LEI: 254900L1MFXFYGB1PV53 | Long             | EC               | CORP              | US        |    394634 | NS      | $1404897.04   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                            | Amazon.com Inc                            | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     36212 | NS      | $7944550.68   | 7.97%             |  |  |  | No            |                  1 | On Loan: No      |
| PAR Technology Corp                       | PAR Technology Corp                       | CUSIP: 698884103<br>LEI: 549300HYPTHBJQINVG57 | Long             | EC               | CORP              | US        |     32005 | NS      | $2220186.85   | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-28

**Name of Applicant:** BARON SELECT FUNDS

**Signature:** Christopher Snively

**Name of Signer:** Christopher Snively

**Title:** Chief Financial Officer and Treasurer