# EDGAR Filing Document

**Accession Number:** 0001217673
**File Stem:** 0001752724-23-049935
**Filing Date:** 2023-3
**Character Count:** 21231
**Document Hash:** e6a673d18673bff55d49b10157d1bb60
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-049935.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001752724-23-049935

**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:** 23691955

**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 Global Advantage Fund (Series ID: S000036767)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000112440 | Retail Shares        | BGAFX           |
| C000112441 | Institutional Shares | BGAIX           |
| C000174764 | R6 Shares            | BGLUX           |

## 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 Global Advantage Fund

- **b. EDGAR series identifier (if any):** S000036767

- **c. LEI of Series:** 549300H23AWQ1PSUDU58

**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:** $799965736.25

**Total Liabilities:** $26312868.21

**Net Assets:** $773652868.04

**Cash Not Reported:** $42618.66

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000174764 | 2.03%                | -1.53%               | -9.32%               |
| Class ID C000112440 | 2.04%                | -1.57%               | -9.36%               |
| Class ID C000112441 | 2.07%                | -1.57%               | -9.33%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-14261002.22            | $33713057.82                               |
| Month 2  | $-3043266.42             | $-11184951.57                              |
| Month 3  | $-14001250.73            | $-70688298.98                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| EPAM Systems Inc                              | EPAM Systems Inc                              | CUSIP: 29414B104<br>LEI: 549300XCR4R530HJP604 | Long             | EC               | CORP              | US        |     61116 | NS      | $20030157.84  | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| RIVIAN AUTOMOTIVE, INC.                       | RIVIAN AUTOMOTIVE, INC.                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    484183 | NS      | $8923492.69   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Codere Online Luxembourg, S.A. Forward Shares | Codere Online Luxembourg, S.A. Forward Shares | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    584567 | NS      | $1508182.86   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Zomato Ltd                                    | Zomato Ltd                                    | CUSIP: 000000000<br>LEI: 335800T4VOF9ETHF8W59 | Long             | EC               | CORP              | IN        |   7379067 | NS      | $5289899.27   | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Dlocal Ltd/Uruguay                            | Dlocal Ltd/Uruguay                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    735783 | NS      | $11456141.31  | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                               | ASML Holding NV                               | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |     38227 | NS      | $20843334.29  | 2.69%             |  |  |  | No            |                  2 | On Loan: No      |
| Fiverr International Ltd                      | Fiverr International Ltd                      | CUSIP: 000000000<br>LEI: 549300Z8OREY6THCPF67 | Long             | EC               | CORP              | IL        |    313039 | NS      | $9121956.46   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovid Corp                                  | Innovid Corp                                  | CUSIP: 457679108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   3375264 | NS      | $5771701.44   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Zscaler Inc                                   | Zscaler Inc                                   | CUSIP: 98980G102<br>LEI: 529900MZ0RTK1BWRNF46 | Long             | EC               | CORP              | US        |    110828 | NS      | $12401653.20  | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Cloudflare Inc                                | Cloudflare Inc                                | CUSIP: 18915M107<br>LEI: 5493007DY18BGNLDWU14 | Long             | EC               | CORP              | US        |    371841 | NS      | $16810931.61  | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| RIVIAN AUTOMOTIVE, INC.                       | RIVIAN AUTOMOTIVE, INC.                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    176391 | NS      | $3250886.13   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Codere Online Luxembourg SA                   | Codere Online Luxembourg SA                   | CUSIP: 000000000<br>LEI: 222100ZJU57ZQLLYNO89 | Long             | EC               | CORP              | LU        |    996069 | NS      | $2569858.02   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Bill.com Holdings Inc                         | Bill.com Holdings Inc                         | CUSIP: 090043100<br>LEI: 549300IBF9VZZIGOZW63 | Long             | EC               | CORP              | US        |    141583 | NS      | $15426883.68  | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| GM CRUISE HOLDINGS LLC                        | GM CRUISE HOLDINGS LLC                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    461004 | NS      | $11087146.20  | 1.43%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ZoomInfo Technologies Inc                     | ZoomInfo Technologies Inc                     | CUSIP: 98980F104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    799449 | NS      | $24071409.39  | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Globant SA                                    | Globant SA                                    | CUSIP: 000000000<br>LEI: 2221008DCMSPYS42DS88 | Long             | EC               | CORP              | LU        |     73496 | NS      | $12359087.36  | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Taboola.com Ltd                               | Taboola.com Ltd                               | CUSIP: 000000000<br>LEI: 984500F5945AFAFFCB30 | Long             | EC               | CORP              | IL        |   2753705 | NS      | $8481411.40   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| CODERE ONLINE LUXEMBOURG, S.A.                | CODERE ONLINE LUXEMBOURG, S.A.                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | US        |      4326 | NS      | $574.93       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Block Inc                                     | Block Inc                                     | CUSIP: 852234103<br>LEI: 549300OHIIUWSTIZME52 | Long             | EC               | CORP              | US        |    204952 | NS      | $12879183.68  | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeva Systems Inc                             | Veeva Systems Inc                             | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |    132883 | NS      | $21444658.54  | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| THINK + LEARN PRIVATE LIMITED                 | THINK + LEARN PRIVATE LIMITED                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | IN        |      9201 | NS      | $44144183.67  | 5.71%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Coupang Inc                                   | Coupang Inc                                   | CUSIP: 22266T109<br>LEI: 549300XR4L1D80AK4W76 | Long             | EC               | CORP              | US        |   1778267 | NS      | $26158307.57  | 3.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Adyen NV                                      | Adyen NV                                      | CUSIP: 000000000<br>LEI: 724500973ODKK3IFQ447 | Long             | EC               | CORP              | NL        |     16186 | NS      | $22470197.37  | 2.90%             |  |  |  | No            |                  2 | On Loan: No      |
| NVIDIA Corp                                   | NVIDIA Corp                                   | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    146664 | NS      | $21433476.96  | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Codere Online Luxembourg SA                   | Codere Online Luxembourg SA                   | CUSIP: 000000000<br>LEI: 222100ZJU57ZQLLYNO89 | N/A              | DE               |  | LU        |    498034 | NS      | $66188.72     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CODERE ONLINE LUXEMBOURG, S.A                 | CODERE ONLINE LUXEMBOURG, S.A                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    116913 | NS      | $292282.50    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Illumina Inc                                  | Illumina Inc                                  | CUSIP: 452327109<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | EC               | CORP              | US        |     93454 | NS      | $18896398.80  | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Afya Ltd                                      | Afya Ltd                                      | CUSIP: 000000000<br>LEI: 54930008Y7J8Z1BSDT57 | Long             | EC               | CORP              | KY        |   1159220 | NS      | $18107016.40  | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| FARMERS BUSINESS NETWORK , INC                | FARMERS BUSINESS NETWORK , INC                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     80440 | NS      | $5297778.40   | 0.68%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Guardant Health Inc                           | Guardant Health Inc                           | CUSIP: 40131M109<br>LEI: 254900M8C3E5VC8BR186 | Long             | EC               | CORP              | US        |    195308 | NS      | $5312377.60   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovid Corp                                  | Innovid Corp                                  | CUSIP: 457679116<br>LEI: N/A                  | N/A              | DE               |  | US        |     68986 | NS      | $27594.40     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Bajaj Finance Ltd                             | Bajaj Finance Ltd                             | CUSIP: 000000000<br>LEI: 335800YTEXC3DO4Z6F68 | Long             | EC               | CORP              | IN        |    475005 | NS      | $37627401.29  | 4.86%             |  |  |  | No            |                  2 | On Loan: No      |
| Tesla Inc                                     | Tesla Inc                                     | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |    120215 | NS      | $14808083.70  | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Space Exploration Technologies                | SPACE EXPLORATION TECHNOLOGIES                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     75250 | NS      | $5535611.99   | 0.72%             |  |  |  | Yes           |                  3 | On Loan: No      |
| FARMERS BUSINESS NETWORK                      | FARMERS BUSINESS NETWORK                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    219321 | NS      | $7875817.11   | 1.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Taboola.com Ltd                               | Taboola.com Ltd                               | CUSIP: 000000000<br>LEI: 984500F5945AFAFFCB30 | N/A              | DE               |  | IL        |    228748 | NS      | $112086.52    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Snowflake Inc                                 | Snowflake Inc                                 | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |    241005 | NS      | $34593857.70  | 4.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Endava PLC                                    | Endava PLC                                    | CUSIP: 29260V105<br>LEI: 213800JJ6CRPCWCQVZ25 | Long             | EC               | CORP              | GB        |    671911 | NS      | $51401191.50  | 6.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Argenx SE                                     | Argenx SE                                     | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |     94837 | NS      | $35927100.71  | 4.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings Inc                      | Crowdstrike Holdings Inc                      | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |    289151 | NS      | $30444708.79  | 3.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Schrodinger Inc/United States                 | Schrodinger Inc/United States                 | CUSIP: 80810D103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    438425 | NS      | $8194163.25   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Datadog Inc                                   | Datadog Inc                                   | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               | CORP              | US        |    358515 | NS      | $26350852.50  | 3.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Space Exploration Technologies                | SPACE EXPLORATION TECHNOLOGIES                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    252130 | NS      | $18547426.58  | 2.40%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CODERE ONLINE LUXEMBOURG, S.A.                | CODERE ONLINE LUXEMBOURG, S.A.                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8652 | NS      | $22322.16     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Shopify Inc                                   | Shopify Inc                                   | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |    727369 | NS      | $25246977.99  | 3.26%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre Inc                              | MercadoLibre Inc                              | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |     51109 | NS      | $43250480.16  | 5.59%             |  |  |  | No            |                  1 | On Loan: No      |
| RESIDENT HOME INC.                            | RESIDENT HOME INC.                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     69926 | NS      | $1165666.42   | 0.15%             |  |  |  | Yes           |                  3 | On Loan: No      |
| InPost SA                                     | InPost SA                                     | CUSIP: 000000000<br>LEI: 2221003M23QLERR89585 | Long             | EC               | CORP              | LU        |   1782866 | NS      | $15062995.95  | 1.95%             |  |  |  | No            |                  2 | On Loan: No      |
| Wix.com Ltd                                   | Wix.com Ltd                                   | CUSIP: 000000000<br>LEI: 5493008P6N29Q1AG9464 | Long             | EC               | CORP              | IL        |     92553 | NS      | $7110846.99   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| MaxCyte Inc                                   | MaxCyte Inc                                   | CUSIP: 57777K106<br>LEI: 54930053YHXULRFCU991 | Long             | EC               | CORP              | US        |   1732760 | NS      | $9460869.60   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Meituan                                       | Meituan                                       | CUSIP: 000000000<br>LEI: 21380033K525E5JLIA77 | Long             | EC               | CORP              | KY        |    959865 | NS      | $21266606.34  | 2.75%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-26

**Name of Applicant:** BARON SELECT FUNDS

**Signature:** Peggy Wong

**Name of Signer:** Peggy Wong

**Title:** Chief Financial Officer and Treasurer