FORM 24F-2 FOR THE PERIOD ENDED SEPTEMBER 30, 2010

                       UNITED STATES                    OMB APPROVAL
              SECURITIES AND EXCHANGE COMMISSION        OMB Number: 3235-0456
                   WASHINGTON, D.C. 20549               Expires: March 31, 2012
                                                        Estimated average burden
                                                        hours per response... 2

                         FORM 24F-2
              Annual Notice of Securities Sold
                   Pursuant to Rule 24f-2

        Read instructions at end of Form before preparing Form.


1.   Name and address of issuer:

          Baron Investment Funds Trust

          767 Fifth Avenue, 49th Floor
          New York, NY 10153



2.   The name of each series or class of securities for which this Form is filed
     (If the Form is being filed for all series and classes of securities of the
     issuer, check the box but do not list series or classes):  [X]



3.   Investment Company Act File Number:811-5032

          Securities Act File Number:   33-12112



4.(a) Last day of fiscal year for which this notice is filed:

          September 30, 2010

4.(b)[ ] Check box if this Form is being filed late (i.e., more than 90 calendar
     days after the end of the issuer's fiscal year). (See Instruction A.2)

     Note:  If the  Form  is  being  filed  late,  interest  must be paid on the
     registration fee due.



4.(c)[ ] Check box if this is the last time the issuer will be filing this Form.


5.   Calculation of registration fee:



                                                                          

     (i)  Aggregate sale price of securities sold
          during the fiscal year pursuant to
          section 24(f):                                                           $2,667,718,590

     (ii) Aggregate price of securities redeemed
          or repurchased during the fiscal year:      $3,404,069,385

     (iii)Aggregate price of securities redeemed
          or repurchased during any prior fiscal
          year ending no earlier than October 11,
          1995 that were not previously used to
          reduce registration fees payable to the
          Commission:                                 $            0.00

    (iv)  Total available redemption credits [add
          Items 5(ii) and 5(iii)]:                                              $3,404,069,385
                                                                                 -------------------
    (v)   Net sales - - if Item 5(i) is greater
          than Item 5(iv) [subtract Item 5(iv)
          from Item 5(i)]:                                                         $0.00

    (vi)  Redemption credits available for use in     $736,350,795
          future years - - if Item 5(i) is less       -----------------
          than Item 5(iv) [subtract Item 5(iv)
          from Item 5(i)]:

    (vii) Multiplier for determining registration
          fee (See Instruction C.9):                                            x     0.0000713
                                                                                -------------------
    (viii)Registration fee due [multiply Item
          5(v) by Item 5(vii)] (enter "0" if no
          fee is due):                                                              $ 0.00
                                                                                ===================



6.   Prepaid Shares

     If the  response  to Item 5(i) was  determined  by  deducting  an amount of
     securities that were  registered  under the Securities Act of 1933 pursuant
     to rule 24e-2 as in effect before October 11, 1997,  then report the amount
     of securities (number of shares or other units) deducted here:  ----------.
     If there is a number of shares or other units that were registered pursuant
     to rule 24e-2 remaining unsold at the end of the fiscal year for which this
     form is filed that are  available  for use by the  issuer in future  fiscal
     years, then state that number here: ------------.



7.   Interest  due - - if this Form is being  filed  more than 90 days after the
     end of the issuer's fiscal year (see Instruction D):   $0



8.   Total of the amount of the registration fee due plus any interest due [line
     5(viii) plus line 7]: =        $ 0.00



9.   Date  the  registration  fee  and  any  interest  payment  was  sent to the
     Commission's lockbox depository: N/A

          Method of Delivery:

              [ ] Wire Transfer

              [ ] Mail or other means



                                  SIGNATURES

This  report has been  signed  below by the  following  persons on behalf of the
issuer and in the capacities and on the dates indicated.



By: (Signature and Title)     * /s/ Patrick M. Patalino
                                -----------------------------
                                    Patrick M. Patalino
                             Vice President and General Counsel

Date:     December 2, 2010

*Please print the name and title of the signing officer below the signature.