# EDGAR Filing Document

**Accession Number:** 0001217673
**File Stem:** 0001752724-23-049947
**Filing Date:** 2023-3
**Character Count:** 32211
**Document Hash:** d1ebbccd6de0f766f128ae54a1bc9f1b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-049947.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001752724-23-049947

**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:** 23691973

**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 New Asia Fund (Series ID: S000071635)

| Class ID   | Class Name            | Ticker Symbol   |
|:---|:---|:---|
| C000227028 | R6 Shares             | BNAUX           |
| C000227029 | Retail Shares         | BNAFX           |
| C000227030 | Instituitional Shares | BNAIX           |

## 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 New Asia Fund

- **b. EDGAR series identifier (if any):** S000071635

- **c. LEI of Series:** 549300U7KTHAZZ8FEI02

**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:** $3741179.59

**Total Liabilities:** $49623.21

**Net Assets:** $3691556.38

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000227028 | -5.01%               | 15.23%               | -2.75%               |
| Class ID C000227029 | -4.89%               | 15.13%               | -2.76%               |
| Class ID C000227030 | -4.88%               | 15.23%               | -2.75%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-107512.24              | $-59578.97                                 |
| Month 2  | $-65825.03               | $562795.02                                 |
| Month 3  | $-24603.16               | $-77020.05                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Hong Kong Exchanges & Clearing Ltd                   | Hong Kong Exchanges & Clearing Ltd                   | CUSIP: 000000000<br>LEI: 213800YTVSXYQN17BW16 | Long             | EC               | CORP              | HK        |      1065 | NS      | $45763.30     | 1.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Yum China Holdings Inc                               | Yum China Holdings Inc                               | CUSIP: 98850P109<br>LEI: 529900DO9BYZ7VA3K502 | Long             | EC               | CORP              | US        |      1421 | NS      | $79348.48     | 2.15%             |  |  |  | No            |                  2 | On Loan: No      |
| ACM Research Inc                                     | ACM Research Inc                                     | CUSIP: 00108J109<br>LEI: 549300MCTENUWL2GJL61 | Long             | EC               | CORP              | US        |       359 | NS      | $2767.89      | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Zomato Ltd                                           | Zomato Ltd                                           | CUSIP: 000000000<br>LEI: 335800T4VOF9ETHF8W59 | Long             | EC               | CORP              | IN        |     39712 | NS      | $28468.70     | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Dixon Technologies India Ltd                         | Dixon Technologies India Ltd                         | CUSIP: 000000000<br>LEI: 335800D7XO7AVXXJ8575 | Long             | EC               | CORP              | IN        |       527 | NS      | $24821.83     | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Hyundai Heavy Industries Co Ltd                      | Hyundai Heavy Industries Co Ltd                      | CUSIP: 000000000<br>LEI: 988400CAR8W9URQLGF30 | Long             | EC               | CORP              | KR        |       624 | NS      | $57509.82     | 1.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Midea Group Co Ltd                                   | Midea Group Co Ltd                                   | CUSIP: 000000000<br>LEI: 3003003TRPHLHZD2IF61 | Long             | EC               | CORP              | CN        |      7824 | NS      | $58064.16     | 1.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Tencent Holdings Ltd                                 | Tencent Holdings Ltd                                 | CUSIP: 88032Q109<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |      3002 | NS      | $127164.72    | 3.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Kingsoft Corp Ltd                                    | Kingsoft Corp Ltd                                    | CUSIP: 000000000<br>LEI: 529900UVT35D3Q7YQY41 | Long             | EC               | CORP              | KY        |     14454 | NS      | $47901.39     | 1.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Beijing Oriental Yuhong Waterproof Technology Co Ltd | Beijing Oriental Yuhong Waterproof Technology Co Ltd | CUSIP: 000000000<br>LEI: 300300XMIXB7STDZWT60 | Long             | EC               | CORP              | CN        |      5952 | NS      | $28596.49     | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Neogen Chemicals Ltd                                 | Neogen Chemicals Ltd                                 | CUSIP: 000000000<br>LEI: 335800PFY9B77Z2GOK22 | Long             | EC               | CORP              | IN        |      1853 | NS      | $27915.56     | 0.76%             |  |  |  | No            |                  2 | On Loan: No      |
| Full Truck Alliance Co Ltd                           | Full Truck Alliance Co Ltd                           | CUSIP: 35969L108<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      7747 | NS      | $61976.00     | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Godrej Consumer Products Ltd                         | Godrej Consumer Products Ltd                         | CUSIP: 000000000<br>LEI: 335800P4GUWLGZFK2D63 | Long             | EC               | CORP              | IN        |      5035 | NS      | $53122.89     | 1.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Apollo Hospitals Enterprise Ltd                      | Apollo Hospitals Enterprise Ltd                      | CUSIP: 000000000<br>LEI: 3358005YT7JQCWYLTG43 | Long             | EC               | CORP              | IN        |       662 | NS      | $35773.24     | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| China Tourism Group Duty Free Corp Ltd               | China Tourism Group Duty Free Corp Ltd               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |      1399 | NS      | $43304.17     | 1.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electronics Co Ltd                           | Samsung Electronics Co Ltd                           | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |      3182 | NS      | $139668.30    | 3.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Amber Enterprises India Ltd                          | Amber Enterprises India Ltd                          | CUSIP: 000000000<br>LEI: 3358009JZU4XT3666G06 | Long             | EC               | CORP              | IN        |       702 | NS      | $16006.71     | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Fixed Income Clearing Corp                           | FIXED INC CLEARING CORP.REPO                         | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        |    230950 | PA      | $230950.07    | 6.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Reliance Industries Ltd                              | Reliance Industries Ltd                              | CUSIP: 000000000<br>LEI: 5493003UOETFYRONLG31 | Long             | EC               | CORP              | IN        |      3642 | NS      | $111811.62    | 3.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Tokyo Electron Ltd                                   | Tokyo Electron Ltd                                   | CUSIP: 000000000<br>LEI: 549300H5LSF8DP3RIJ34 | Long             | EC               | CORP              | JP        |        80 | NS      | $23506.30     | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| Aarti Industries Ltd                                 | Aarti Industries Ltd                                 | CUSIP: 000000000<br>LEI: 335800JBE5SD89NHB831 | Long             | EC               | CORP              | IN        |      3293 | NS      | $24237.59     | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Divi's Laboratories Ltd                              | Divi's Laboratories Ltd                              | CUSIP: 000000000<br>LEI: 335800C1DHFG1C9T1M03 | Long             | EC               | CORP              | IN        |       633 | NS      | $26072.47     | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| Alibaba Group Holding Ltd                            | Alibaba Group Holding Ltd                            | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |      1294 | NS      | $113988.46    | 3.09%             |  |  |  | No            |                  1 | On Loan: No      |
| JM Financial Ltd                                     | JM Financial Ltd                                     | CUSIP: 000000000<br>LEI: 254900XWK81ULQY0IE29 | Long             | EC               | CORP              | IN        |     20005 | NS      | $17245.38     | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| MediaTek Inc                                         | MediaTek Inc                                         | CUSIP: 000000000<br>LEI: 254900UEGBK1I4DM4E14 | Long             | EC               | CORP              | TW        |      1003 | NS      | $20279.58     | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Yunnan Baiyao Group Co Ltd                           | Yunnan Baiyao Group Co Ltd                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |      4594 | NS      | $35871.55     | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Energy Absolute PCL                                  | Energy Absolute PCL                                  | CUSIP: 000000000<br>LEI: 549300YNVU2DM30XBZ14 | Long             | EC               | CORP              | TH        |     19300 | NS      | $53608.71     | 1.45%             |  |  |  | No            |                  2 | On Loan: No      |
| WuXi AppTec Co Ltd                                   | WuXi AppTec Co Ltd                                   | CUSIP: 000000000<br>LEI: 254900OEPQLZSPLN9175 | Long             | EC               | CORP              | CN        |      1915 | NS      | $20093.15     | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Godrej Properties Ltd                                | Godrej Properties Ltd                                | CUSIP: 000000000<br>LEI: 335800KM3Y5NZWXOE183 | Long             | EC               | CORP              | IN        |      2069 | NS      | $30581.47     | 0.83%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Rakyat Indonesia Persero Tbk PT                 | Bank Rakyat Indonesia Persero Tbk PT                 | CUSIP: 000000000<br>LEI: 254900HB6S4B12GBNP64 | Long             | EC               | CORP              | ID        |    216700 | NS      | $68704.76     | 1.86%             |  |  |  | No            |                  2 | On Loan: No      |
| HDFC Bank Ltd                                        | HDFC Bank Ltd                                        | CUSIP: 000000000<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |      4483 | NS      | $87927.54     | 2.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Coupang Inc                                          | Coupang Inc                                          | CUSIP: 22266T109<br>LEI: 549300XR4L1D80AK4W76 | Long             | EC               | CORP              | US        |      1291 | NS      | $18990.61     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Korea Shipbuilding & Offshore Engineering Co Ltd     | Korea Shipbuilding & Offshore Engineering Co Ltd     | CUSIP: 000000000<br>LEI: 988400DPTJ9KH5R6W540 | Long             | EC               | CORP              | KR        |       707 | NS      | $39756.04     | 1.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Wuxi Biologics Cayman Inc                            | Wuxi Biologics Cayman Inc                            | CUSIP: 000000000<br>LEI: 5493001TD2TH6VDTJU11 | Long             | EC               | CORP              | KY        |      3445 | NS      | $26092.10     | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| Techtronic Industries Co Ltd                         | Techtronic Industries Co Ltd                         | CUSIP: 000000000<br>LEI: 549300HZW2SBE758OK89 | Long             | EC               | CORP              | HK        |      3748 | NS      | $41628.42     | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| China Mengniu Dairy Co Ltd                           | China Mengniu Dairy Co Ltd                           | CUSIP: 000000000<br>LEI: 2549005Q343BSJ8RSS21 | Long             | EC               | CORP              | KY        |     12894 | NS      | $58140.47     | 1.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Tata Consumer Products Ltd                           | Tata Consumer Products Ltd                           | CUSIP: 000000000<br>LEI: 335800LOXFWU8ZQJMD12 | Long             | EC               | CORP              | IN        |      5532 | NS      | $51198.40     | 1.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Galaxy Entertainment Group Ltd                       | Galaxy Entertainment Group Ltd                       | CUSIP: 000000000<br>LEI: 549300ZSEBV3HR826S10 | Long             | EC               | CORP              | HK        |      6712 | NS      | $44129.06     | 1.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Keyence Corp                                         | Keyence Corp                                         | CUSIP: 000000000<br>LEI: 529900M7PQBS7A89DZ11 | Long             | EC               | CORP              | JP        |       160 | NS      | $62119.12     | 1.68%             |  |  |  | No            |                  2 | On Loan: No      |
| PI Industries Ltd                                    | PI Industries Ltd                                    | CUSIP: 000000000<br>LEI: 335800PEGP94E4CC1D11 | Long             | EC               | CORP              | IN        |       767 | NS      | $31676.22     | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| Hua Hong Semiconductor Ltd                           | Hua Hong Semiconductor Ltd                           | CUSIP: 000000000<br>LEI: 529900OXH3ZYLIMGB907 | Long             | EC               | CORP              | HK        |      2322 | NS      | $8046.20      | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Baidu Inc                                            | Baidu Inc                                            | CUSIP: 000000000<br>LEI: 254900AL64IANZYI1E02 | Long             | EC               | CORP              | KY        |      1100 | NS      | $15686.80     | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Zhejiang Dingli Machinery Co Ltd                     | Zhejiang Dingli Machinery Co Ltd                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |      2011 | NS      | $13799.62     | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Bharti Airtel Ltd                                    | Bharti Airtel Ltd                                    | CUSIP: 000000000<br>LEI: 335800KQ1FPKOQ84OR26 | Long             | EC               | CORP              | IN        |      8265 | NS      | $80378.07     | 2.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Hangzhou Tigermed Consulting Co Ltd                  | Hangzhou Tigermed Consulting Co Ltd                  | CUSIP: 000000000<br>LEI: 300300CP4N8WDF6DOO67 | Long             | EC               | CORP              | CN        |      1580 | NS      | $23741.11     | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| Lufax Holding Ltd                                    | Lufax Holding Ltd                                    | CUSIP: 54975P102<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      5191 | NS      | $10070.54     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| NARI Technology Co Ltd                               | NARI Technology Co Ltd                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |      8970 | NS      | $31348.24     | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| Bajaj Finance Ltd                                    | Bajaj Finance Ltd                                    | CUSIP: 000000000<br>LEI: 335800YTEXC3DO4Z6F68 | Long             | EC               | CORP              | IN        |      1332 | NS      | $105514.04    | 2.86%             |  |  |  | No            |                  2 | On Loan: No      |
| Aarti Pharmalabs Ltd                                 | Aarti Pharmalabs Ltd                                 | CUSIP: 000000000<br>LEI: 335800TTAKRBNDK5P363 | Long             | EC               | CORP              | IN        |      1105 | NS      | $5070.20      | 0.14%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Kingdee International Software Group Co Ltd          | Kingdee International Software Group Co Ltd          | CUSIP: 000000000<br>LEI: 529900SWRZN94C5SZO63 | Long             | EC               | CORP              | KY        |     20101 | NS      | $42656.24     | 1.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Bharti Airtel Ltd                                    | Bharti Airtel Ltd                                    | CUSIP: 000000000<br>LEI: 335800KQ1FPKOQ84OR26 | Long             | EC               | CORP              | IN        |       582 | NS      | $3043.97      | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| China Conch Venture Holdings Ltd                     | China Conch Venture Holdings Ltd                     | CUSIP: 000000000<br>LEI: 836800AA0Q4R3O6ZDB17 | Long             | EC               | CORP              | KY        |      5186 | NS      | $11250.13     | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Max Financial Services Ltd                           | Max Financial Services Ltd                           | CUSIP: 000000000<br>LEI: 335800Y9FX8XGFB64S40 | Long             | EC               | CORP              | IN        |      2998 | NS      | $24480.05     | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Budweiser Brewing Co APAC Ltd                        | Budweiser Brewing Co APAC Ltd                        | CUSIP: 000000000<br>LEI: 549300YF1MR4GTF18132 | Long             | EC               | CORP              | KY        |     17702 | NS      | $55336.38     | 1.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Tube Investments of India Ltd                        | Tube Investments of India Ltd                        | CUSIP: 000000000<br>LEI: 335800Z8CKZ11SGVKE64 | Long             | EC               | CORP              | IN        |       363 | NS      | $12175.03     | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Jubilant Foodworks Ltd                               | Jubilant Foodworks Ltd                               | CUSIP: 000000000<br>LEI: 9845000D3B99893F5B14 | Long             | EC               | CORP              | IN        |      5189 | NS      | $31991.69     | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Negara Indonesia Persero Tbk PT                 | Bank Negara Indonesia Persero Tbk PT                 | CUSIP: 000000000<br>LEI: 549300HZ8J3MLVXQ8F85 | Long             | EC               | CORP              | ID        |     51300 | NS      | $30393.58     | 0.82%             |  |  |  | No            |                  2 | On Loan: No      |
| Delta Electronics Inc                                | Delta Electronics Inc                                | CUSIP: 000000000<br>LEI: 529900UVZWNWGDLJSM52 | Long             | EC               | CORP              | TW        |      5077 | NS      | $47063.72     | 1.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Glodon Co Ltd                                        | Glodon Co Ltd                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |      4223 | NS      | $36343.72     | 0.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Venustech Group Inc                                  | Venustech Group Inc                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |      8536 | NS      | $31971.65     | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| Silergy Corp                                         | Silergy Corp                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      1691 | NS      | $23885.23     | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Hoya Corp                                            | Hoya Corp                                            | CUSIP: 000000000<br>LEI: 353800X4VR3BHEUCJB42 | Long             | EC               | CORP              | JP        |       421 | NS      | $40322.75     | 1.09%             |  |  |  | No            |                  2 | On Loan: No      |
| JD.com Inc                                           | JD.com Inc                                           | CUSIP: 47215P106<br>LEI: 549300HVTWB0GJZ16V92 | Long             | EC               | CORP              | KY        |       906 | NS      | $50853.78     | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Baidu Inc                                            | Baidu Inc                                            | CUSIP: 056752108<br>LEI: 254900AL64IANZYI1E02 | Long             | EC               | CORP              | KY        |       394 | NS      | $45065.72     | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Zai Lab Ltd                                          | Zai Lab Ltd                                          | CUSIP: 98887Q104<br>LEI: 549300P2UYQ9U5LY1T58 | Long             | EC               | CORP              | KY        |       861 | NS      | $26432.70     | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Estun Automation Co Ltd                              | Estun Automation Co Ltd                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     15658 | NS      | $48752.75     | 1.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Tata Communications Ltd                              | Tata Communications Ltd                              | CUSIP: 000000000<br>LEI: 3358004PBWAYF65RLI81 | Long             | EC               | CORP              | IN        |      2208 | NS      | $33964.12     | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| IIFL Wealth Management Ltd                           | IIFL Wealth Management Ltd                           | CUSIP: 000000000<br>LEI: 335800DDYMCDBO5OLL32 | Long             | EC               | CORP              | IN        |       758 | NS      | $16235.25     | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Asian Paints Ltd                                     | Asian Paints Ltd                                     | CUSIP: 000000000<br>LEI: 335800HEHXGYRUNERD75 | Long             | EC               | CORP              | IN        |       556 | NS      | $20669.94     | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| SBI Life Insurance Co Ltd                            | SBI Life Insurance Co Ltd                            | CUSIP: 000000000<br>LEI: 335800WMVIESQUO95586 | Long             | EC               | CORP              | IN        |      5278 | NS      | $78336.36     | 2.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Han's Laser Technology Industry Group Co Ltd         | Han's Laser Technology Industry Group Co Ltd         | CUSIP: 000000000<br>LEI: 300300MZXZR87BGKOZ23 | Long             | EC               | CORP              | CN        |      3093 | NS      | $11369.17     | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd            | Taiwan Semiconductor Manufacturing Co Ltd            | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      2642 | NS      | $196802.58    | 5.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Jiangsu Hengli Hydraulic Co Ltd                      | Jiangsu Hengli Hydraulic Co Ltd                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |      6376 | NS      | $57816.25     | 1.57%             |  |  |  | No            |                  2 | On Loan: No      |
| ICICI Bank Ltd                                       | ICICI Bank Ltd                                       | CUSIP: 000000000<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |      9475 | NS      | $101910.90    | 2.76%             |  |  |  | No            |                  2 | On Loan: No      |
| Airtac International Group                           | Airtac International Group                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |       603 | NS      | $18205.44     | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| AIA Group Ltd                                        | AIA Group Ltd                                        | CUSIP: 000000000<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |      6127 | NS      | $67662.80     | 1.83%             |  |  |  | No            |                  2 | On Loan: No      |
| Shenzhen Mindray Bio-Medical Electronics Co Ltd      | Shenzhen Mindray Bio-Medical Electronics Co Ltd      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |       963 | NS      | $43669.88     | 1.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Merdeka Copper Gold Tbk PT                           | Merdeka Copper Gold Tbk PT                           | CUSIP: 000000000<br>LEI: 894500DF5TJXCOE26L58 | Long             | EC               | CORP              | ID        |     93362 | NS      | $24665.58     | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Titan Co Ltd                                         | Titan Co Ltd                                         | CUSIP: 000000000<br>LEI: 549300RO9VJWPK37FE54 | Long             | EC               | CORP              | IN        |      1972 | NS      | $61874.02     | 1.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Korea Aerospace Industries Ltd                       | Korea Aerospace Industries Ltd                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |       832 | NS      | $33625.32     | 0.91%             |  |  |  | No            |                  2 | 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