X0201 N-CEN LIVE 0000810902 XXXXXXXX 811-05032 false false false N-1A S000042178 C000130960 C000174754 C000130959 S000000582 C000165210 C000077818 C000001635 S000000584 C000077820 C000165212 C000001637 S000000585 C000077821 C000001638 C000174753 S000000583 C000077819 C000165211 C000001636 S000000586 C000165213 C000077822 C000001639 S000060168 C000196921 C000196922 C000196923 BARON INVESTMENT FUNDS TRUST (f/k/a BARON ASSET FUND) 811-05032 0000810902 549300QG0RSSKFZ1ZK02 767 FIFTH AVE 49TH FL NEW YORK 10153 US-NY US 212-583-2000 State Street Bank and Trust Company 1 Lincoln Street Boston 02111 617-786-3000 Custody and Accounting Records. N N N-1A 7 N Norman S. Edelcup 000000000 N David A. Silverman, MD 000000000 N Ronald Baron 000013187 Y Harold W. Milner 000000000 N Linda S. Martinson 001139436 Y Raymond Noveck 000000000 N Anita Rosenberg 000000000 N Alex Yemenidjian 000000000 N Thomas J. Folliard 000000000 N Louis Beasley 003156061 767 Fifth Avenue New York 10153 XXXXXX N N N N N N N Baron Capital, Inc. 8-27533 000010538 00000000000000000000 Y N PricewaterhouseCoopers LLP 238 5493002GVO7EO8RNNS37 N N N 2018-11-02 Trigger treshold for use of fair value factors on international equity securieties. Equity-common Common Stocks Statutory N N N BARON FIFTH AVENUE GROWTH FUND S000000586 549300RUQIM7AB0VG234 N 3 0 0 N/A N N Y N State Street Bank and Trust Company 571474TGEMMWANRLN572 N N N/A N/A N/A N/A Y Y N N BAMCO, Inc. 801-29080 000110789 5493004E8ITXDW4ZG169 N DST Systems, Inc. 84-00448 21B7QCD05XOK0YTYOP98 N N N ICE Data Services, Inc. 13-3668779 Tax ID N Refinitiv US Holdings Inc. 549300NF240HXJO7N016 N Bloomberg L.P. 549300B56MD0ZC402L06 N N Bank Hapoalim B.M. B6ARUI4946ST4S7WOU88 IL N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) The Standard Bank of South Africa Limited QFC8ZCW3Q5PRXU1XTM60 ZA N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Citibank, National Association (Sao Paulo, Sao Paulo, BR, Branch) E57ODZWZ7FF32TWEFA76 BR N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) State Street Bank and Trust Company 571474TGEMMWANRLN572 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) Mizuho Bank, Ltd. (Minato ku, Tokyo, JP, Branch) RB0PEZSDGCO3JS6CEU02 JP N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) UBS Switzerland AG 549300WOIFUSNYH0FL22 CH N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) The Hongkong and Shanghai Banking Corporation Limited (Sydney, NSW, AU, Branch) 2HI3YI5320L3RW6NJ957 AU N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) State Street Bank and Trust Company (Edinburgh, GB, Branch) 571474TGEMMWANRLN572 GB N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Deutsche Bank Aktiengesellschaft (Mumbai, Maharashtra, IN, Branch) 7LTWFZYICNSX8D621K86 IN N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Standard Chartered Bank (Hong Kong) Limited X5AV1MBDXGRPX5UGMX13 HK N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Deutsche Bank Aktiengesellschaft (Paris, Paris, FR, Branch) 7LTWFZYICNSX8D621K86 FR N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Deutsche Bank Aktiengesellschaft (Eschborn, Hessen, DE, Branch) 7LTWFZYICNSX8D621K86 DE N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Deutsche Bank Aktiengesellschaft (Amsterdam, Noord Holland, NL, Branch) 7LTWFZYICNSX8D621K86 NL N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Deutsche Bank Aktiengesellschaft (Jongno-gu, Seoul, KR, Branch) 7LTWFZYICNSX8D621K86 KR N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) N DST Systems, Inc. 21B7QCD05XOK0YTYOP98 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 N N N Baron Capital, Inc. 8-27533 000010538 00000000000000000000 0 Merrill Lynch, Pierce, Fenner & Smith Incorporated 8-7221 000007691 8NAV47T0Y26Q87Y0QP81 2561.51 Goldman Sachs & Co. LLC 8-129 000000361 FOR8UP27PHTHYVLBNG30 2873.52 Cowen and Company, LLC 8-22522 000007616 549300WR155U7DVMIW58 1692.69 Piper Jaffray & Co. 8-15204 000000665 549300GRQCWQ3XGH0H10 1250.76 Sanford C. Bernstein & Co., LLC 8-52942 000104474 549300I7JYZHT7D5CO04 1397.33 Morgan Stanley & Co. LLC 8-15869 000008209 9R7GPTSO7KV3UQJZQ078 3200.49 Macquarie Capital (USA) Inc. 8-47198 000036368 549300670K07JRB5UQ40 2110.4 Investec Securities (Pty) Ltd N/A 000000000 378900CEE329BEA35C22 ZA 1314.37 JonesTrading Institutional Services LLC 8-26089 000006888 2138008JJ5PA8H5UIL69 3276.12 Jefferies LLC 8-15074 000002347 58PU97L1C0WSRCWADL48 7589.29 35873.28 Citigroup Global Markets Inc. 8-8177 000007059 MBNUM2BPBDO7JBLYG310 3706276.5 Morgan Stanley & Co. LLC 8-15869 000008209 9R7GPTSO7KV3UQJZQ078 3787749 Goldman Sachs & Co. LLC 8-129 000000361 FOR8UP27PHTHYVLBNG30 2121094 JPMorgan Chase & Co. N/A 000000000 8I5DZWZKVSZI1NUHU748 5184534 State Street Bank and Trust Company N/A 000000000 571474TGEMMWANRLN572 2572458932.32 Credit Suisse Securities (USA) LLC 8-422 000000816 1V8Y6QCX6YMJ2OELII46 457920 2587716505.82 N 290177536.74 Committed 100000000 N N N N BARON SMALL CAP FUND S000000584 549300J4GU34YVCWNB33 N 3 0 0 N/A N N Y N N State Street Bank and Trust Company 571474TGEMMWANRLN572 N N Cash collateral reinvestment fee Revenue sharing split 317950.44310000 146479.00000000 N/A N N N N BAMCO, Inc. 801-29080 000110789 5493004E8ITXDW4ZG169 N DST Systems, Inc. 84-00448 21B7QCD05XOK0YTYOP98 N N N Refinitiv US Holdings Inc. 549300NF240HXJO7N016 N ICE Data Services, Inc. 13-3668779 Tax ID N Bloomberg L.P. 549300B56MD0ZC402L06 N N Deutsche Bank Aktiengesellschaft (Eschborn, Hessen, DE, Branch) 7LTWFZYICNSX8D621K86 DE N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Citibank, National Association (Singapore, SG, Branch) E57ODZWZ7FF32TWEFA76 SG N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Citibank, National Association (Sao Paulo, Sao Paulo, BR, Branch) E57ODZWZ7FF32TWEFA76 BR N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Clearstream Banking S.A. 549300OL514RA0SXJJ44 LU N Y Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) State Street Bank and Trust Company (Edinburgh, GB, Branch) 571474TGEMMWANRLN572 GB N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) UniCredit Bank Austria AG D1HEB8VEU6D9M8ZUXG17 AT N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Deutsche Bank Aktiengesellschaft (Madrid, Madrid, ES, Branch) 7LTWFZYICNSX8D621K86 ES N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Skandinaviska Enskilda Banken AB (Helsinki, Uusimaa, FI, Branch) F3JS33DEI6XQ4ZBPTN86 FI N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Deutsche Bank Aktiengesellschaft (Jakarta, Jakarta, ID, Branch) 7LTWFZYICNSX8D621K86 ID N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) State Street Trust Company Canada 549300L71XG2CTQ2V827 CA N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Deutsche Bank Aktiengesellschaft (Paris, Paris, FR, Branch) 7LTWFZYICNSX8D621K86 FR N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) State Street Bank and Trust Company 571474TGEMMWANRLN572 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) Deutsche Bank Aktiengesellschaft (Amsterdam, Noord Holland, NL, Branch) 7LTWFZYICNSX8D621K86 NL N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) N DST Systems, Inc. 21B7QCD05XOK0YTYOP98 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 N N N Baron Capital, Inc. 8-27533 000010538 00000000000000000000 0 Goldman Sachs & Co. LLC 8-129 000000361 FOR8UP27PHTHYVLBNG30 44970.11 Cowen and Company, LLC 8-22522 000007616 549300WR155U7DVMIW58 36596.56 STIFEL NICOLAUS & CO INC. 8-1447 000000793 5WUVMA08EYG4KEUPW589 46723.65 JPMorgan Chase & Co. N/A 000000000 8I5DZWZKVSZI1NUHU748 44282.31 Morgan Stanley & Co. LLC 8-15869 000008209 9R7GPTSO7KV3UQJZQ078 49595.83 Cantor Fitzgerald & Co. 8-201 000000134 5493004J7H4GCPG6OB62 54956.26 Jefferies LLC 8-15074 000002347 58PU97L1C0WSRCWADL48 192743.11 William Blair & Company, L.L.C. 8-2698 000001252 549300J0P7XYE8BMZ775 54251.32 Citigroup Global Markets Inc. 8-8177 000007059 MBNUM2BPBDO7JBLYG310 82863.75 JonesTrading Institutional Services LLC 8-26089 000006888 2138008JJ5PA8H5UIL69 68727.71 1098048.78 UBS Securities LLC 8-22651 000007654 T6FIZBDPKLYJKFCRVK44 9635480 Wells Fargo Securities, LLC 8-65876 000126292 VYVVCKR63DVZZN70PB21 9150000 JPMorgan Chase & Co. N/A 000000000 8I5DZWZKVSZI1NUHU748 26550091 Credit Suisse Securities (USA) LLC 8-422 000000816 1V8Y6QCX6YMJ2OELII46 7242030 Morgan Stanley & Co. LLC 8-15869 000008209 9R7GPTSO7KV3UQJZQ078 11156250 Merrill Lynch, Pierce, Fenner & Smith Incorporated 8-7221 000007691 8NAV47T0Y26Q87Y0QP81 4462500 BTIG, LLC 8-65473 000122225 549300GTG9PL6WO3EC51 4800 Goldman Sachs & Co. LLC 8-129 000000361 FOR8UP27PHTHYVLBNG30 52022980 Citigroup Global Markets Inc. 8-8177 000007059 MBNUM2BPBDO7JBLYG310 8243724.5 State Street Bank and Trust Company N/A 000000000 571474TGEMMWANRLN572 25562256694.66 25696012663.16 N 4006053154.2 Committed 100000000 N N N N BARON DISCOVERY FUND S000042178 549300BBGGOLONVYLL69 N 3 0 0 N/A N N Y N N State Street Bank and Trust Company 571474TGEMMWANRLN572 N N Revenue sharing split Cash collateral reinvestment fee 40678.88000000 38961.00000000 N/A Y Y N N BAMCO, Inc. 801-29080 000110789 5493004E8ITXDW4ZG169 N DST Systems, Inc. 84-00448 21B7QCD05XOK0YTYOP98 N N N ICE Data Services, Inc. 13-3668779 Tax ID N Refinitiv US Holdings Inc. 549300NF240HXJO7N016 N Bloomberg L.P. 549300B56MD0ZC402L06 N N Citibank, National Association (Singapore, SG, Branch) E57ODZWZ7FF32TWEFA76 SG N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) State Street Bank and Trust Company (Edinburgh, GB, Branch) 571474TGEMMWANRLN572 GB N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Standard Chartered Bank (Hong Kong) Limited X5AV1MBDXGRPX5UGMX13 HK N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Deutsche Bank Aktiengesellschaft (Amsterdam, Noord Holland, NL, Branch) 7LTWFZYICNSX8D621K86 NL N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Deutsche Bank Aktiengesellschaft (Paris, Paris, FR, Branch) 7LTWFZYICNSX8D621K86 FR N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Deutsche Bank Aktiengesellschaft (Eschborn, Hessen, DE, Branch) 7LTWFZYICNSX8D621K86 DE N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) State Street Trust Company Canada 549300L71XG2CTQ2V827 CA N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) State Street Bank and Trust Company 571474TGEMMWANRLN572 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N DST Systems, Inc. 21B7QCD05XOK0YTYOP98 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 N N N Baron Capital, Inc. 8-27533 000010538 00000000000000000000 0 BTIG, LLC 8-65473 000122225 549300GTG9PL6WO3EC51 32877.85 Jefferies LLC 8-15074 000002347 58PU97L1C0WSRCWADL48 140493.9 William Blair & Company, L.L.C. 8-2698 000001252 549300J0P7XYE8BMZ775 38695.63 Cowen and Company, LLC 8-22522 000007616 549300WR155U7DVMIW58 29905.25 Piper Jaffray & Co. 8-15204 000000665 549300GRQCWQ3XGH0H10 86740.42 Needham & Company, LLC 8-33772 000016360 254900J2GFQ4J4NK1J89 25600.74 JonesTrading Institutional Services LLC 8-26089 000006888 2138008JJ5PA8H5UIL69 55097.37 Robert W. Baird & Co. Incorporated 8-497 000008158 549300772UJAHRD6LO53 28398.57 Goldman Sachs & Co. LLC 8-129 000000361 FOR8UP27PHTHYVLBNG30 29835.47 STIFEL NICOLAUS & CO INC. 8-1447 000000793 5WUVMA08EYG4KEUPW589 58076.38 820295.37 Deutsche Bank Securities Inc. 8-17822 000002525 9J6MBOOO7BECTDTUZW19 1875000 Morgan Stanley & Co. LLC 8-15869 000008209 9R7GPTSO7KV3UQJZQ078 5501792.5 Citigroup Global Markets Inc. 8-8177 000007059 MBNUM2BPBDO7JBLYG310 2920717 UBS Securities LLC 8-22651 000007654 T6FIZBDPKLYJKFCRVK44 1264760 Credit Suisse Securities (USA) LLC 8-422 000000816 1V8Y6QCX6YMJ2OELII46 948798 JPMorgan Chase & Co. N/A 000000000 8I5DZWZKVSZI1NUHU748 9689712 Goldman Sachs & Co. LLC 8-129 000000361 FOR8UP27PHTHYVLBNG30 9906560 State Street Bank and Trust Company N/A 000000000 571474TGEMMWANRLN572 9327981769.67 9360089109.17 N 468455128.51 Committed 100000000 N N N N BARON OPPORTUNITY FUND S000000585 549300LI07XXLQJOMB12 N 3 0 0 N/A N N Y N State Street Bank and Trust Company 571474TGEMMWANRLN572 N N N/A N/A N/A N/A Y N N N BAMCO, Inc. 801-29080 000110789 5493004E8ITXDW4ZG169 N DST Systems, Inc. 84-00448 21B7QCD05XOK0YTYOP98 N N N ICE Data Services, Inc. 13-3668779 Tax ID N Bloomberg L.P. 549300B56MD0ZC402L06 N Refinitiv US Holdings Inc. 549300NF240HXJO7N016 N N Standard Chartered Bank (Hong Kong) Limited X5AV1MBDXGRPX5UGMX13 HK N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Clearstream Banking S.A. 549300OL514RA0SXJJ44 LU N Y Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) State Street Bank and Trust Company 571474TGEMMWANRLN572 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) Skandinaviska Enskilda Banken AB (Oslo, Oslo, NO, Branch) F3JS33DEI6XQ4ZBPTN86 NO N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) State Street Bank and Trust Company (Edinburgh, GB, Branch) 571474TGEMMWANRLN572 GB N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Mizuho Bank, Ltd. (Minato ku, Tokyo, JP, Branch) RB0PEZSDGCO3JS6CEU02 JP N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Citibank, National Association (Sao Paulo, Sao Paulo, BR, Branch) E57ODZWZ7FF32TWEFA76 BR N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Deutsche Bank Aktiengesellschaft (Jakarta, Jakarta, ID, Branch) 7LTWFZYICNSX8D621K86 ID N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) State Street Trust Company Canada 549300L71XG2CTQ2V827 CA N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Deutsche Bank Aktiengesellschaft (Amsterdam, Noord Holland, NL, Branch) 7LTWFZYICNSX8D621K86 NL N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) N DST Systems, Inc. 21B7QCD05XOK0YTYOP98 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 N N N Baron Capital, Inc. 8-27533 000010538 00000000000000000000 0 JonesTrading Institutional Services LLC 8-26089 000006888 2138008JJ5PA8H5UIL69 11786.97 Merrill Lynch, Pierce, Fenner & Smith Incorporated 8-7221 000007691 8NAV47T0Y26Q87Y0QP81 7913.9 Piper Jaffray & Co. 8-15204 000000665 549300GRQCWQ3XGH0H10 8381.75 Barclays Capital Inc. 8-41342 000019714 AC28XWWI3WIBK2824319 9947.91 Goldman Sachs & Co. LLC 8-129 000000361 FOR8UP27PHTHYVLBNG30 11873.79 Needham & Company, LLC 8-33772 000016360 254900J2GFQ4J4NK1J89 14161.75 JPMorgan Chase & Co. N/A 000000000 8I5DZWZKVSZI1NUHU748 6140.57 Jefferies LLC 8-15074 000002347 58PU97L1C0WSRCWADL48 31309.59 Morgan Stanley & Co. LLC 8-15869 000008209 9R7GPTSO7KV3UQJZQ078 12028.24 William Blair & Company, L.L.C. 8-2698 000001252 549300J0P7XYE8BMZ775 5072.8 179803.29 Credit Suisse Securities (USA) LLC 8-422 000000816 1V8Y6QCX6YMJ2OELII46 1519596 UBS Securities LLC 8-22651 000007654 T6FIZBDPKLYJKFCRVK44 1099760 Citigroup Global Markets Inc. 8-8177 000007059 MBNUM2BPBDO7JBLYG310 6300188.25 State Street Bank and Trust Company N/A 000000000 571474TGEMMWANRLN572 3427917638.44 Goldman Sachs & Co. LLC 8-129 000000361 FOR8UP27PHTHYVLBNG30 9705107 Jefferies LLC 8-15074 000002347 58PU97L1C0WSRCWADL48 1837950 Morgan Stanley & Co. LLC 8-15869 000008209 9R7GPTSO7KV3UQJZQ078 8151862.5 JPMorgan Chase & Co. N/A 000000000 8I5DZWZKVSZI1NUHU748 20944934.18 3478323114.87 N 440285996.91 Committed 100000000 N N N Baron Durable Advantage Fund S000060168 549300IPOVB9Y5C8N774 N 3 0 0 N/A N N Y N State Street Bank and Trust Company 571474TGEMMWANRLN572 N N N/A N/A N/A N/A Y Y N N BAMCO, Inc. 801-29080 000110789 5493004E8ITXDW4ZG169 N DST Systems, Inc. 84-00448 21B7QCD05XOK0YTYOP98 N N N Bloomberg L.P. 549300B56MD0ZC402L06 N Refinitiv US Holdings Inc. 549300NF240HXJO7N016 N ICE Data Services, Inc. 13-3668779 Tax ID N N Deutsche Bank Aktiengesellschaft (Paris, Paris, FR, Branch) 7LTWFZYICNSX8D621K86 FR N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) State Street Bank and Trust Company (Edinburgh, GB, Branch) 571474TGEMMWANRLN572 GB N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) State Street Bank and Trust Company 571474TGEMMWANRLN572 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) Deutsche Bank Aktiengesellschaft (Mumbai, Maharashtra, IN, Branch) 7LTWFZYICNSX8D621K86 IN N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Bank Hapoalim B.M. B6ARUI4946ST4S7WOU88 IL N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Mizuho Bank, Ltd. (Minato ku, Tokyo, JP, Branch) RB0PEZSDGCO3JS6CEU02 JP N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) The Hongkong and Shanghai Banking Corporation Limited (Sydney, NSW, AU, Branch) 2HI3YI5320L3RW6NJ957 AU N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Citibank, National Association (Sao Paulo, Sao Paulo, BR, Branch) E57ODZWZ7FF32TWEFA76 BR N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Deutsche Bank Aktiengesellschaft (Eschborn, Hessen, DE, Branch) 7LTWFZYICNSX8D621K86 DE N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Standard Chartered Bank (Hong Kong) Limited X5AV1MBDXGRPX5UGMX13 HK N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Deutsche Bank Aktiengesellschaft (Jongno-gu, Seoul, KR, Branch) 7LTWFZYICNSX8D621K86 KR N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) UBS Switzerland AG 549300WOIFUSNYH0FL22 CH N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) The Standard Bank of South Africa Limited QFC8ZCW3Q5PRXU1XTM60 ZA N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) N DST Systems, Inc. 21B7QCD05XOK0YTYOP98 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 N N N Baron Capital, Inc. 8-27533 000010538 00000000000000000000 0 Wells Fargo Securities, LLC 8-65876 000126292 VYVVCKR63DVZZN70PB21 37.57 SG Americas Securities, LLC 8-66125 000128351 549300F35UE0BOM1WJ55 9.64 Goldman Sachs & Co. LLC 8-129 000000361 FOR8UP27PHTHYVLBNG30 1.72 Longbow Securities, LLC 8-66950 000135738 254900JCI5E9H1A2CH22 3.16 UBS Securities LLC 8-22651 000007654 T6FIZBDPKLYJKFCRVK44 1.35 Keefe, Bruyette & Woods Limited N/A 000000000 00000000000000000000 GB 7.32 Isi Financial Group Inc. 08-50678 000107356 00000000000000000000 20.56 Jefferies LLC 8-15074 000002347 58PU97L1C0WSRCWADL48 88.27 Merrill Lynch, Pierce, Fenner & Smith Incorporated 8-7221 000007691 8NAV47T0Y26Q87Y0QP81 31.37 Citation Group Ltd. 8-43632 000028305 00000000000000000000 136.59 338.73 State Street Bank and Trust Company N/A 000000000 571474TGEMMWANRLN572 79540139.14 79540139.14 N 4293652.04 Committed 100000000 N N N N BARON ASSET FUND S000000582 54930015OV8URGQ4FJ88 N 3 0 0 N/A N N Y N State Street Bank and Trust Company 571474TGEMMWANRLN572 N N N/A N/A N/A N/A N N N N BAMCO, Inc. 801-29080 000110789 5493004E8ITXDW4ZG169 N DST Systems, Inc. 84-00448 21B7QCD05XOK0YTYOP98 N N N Bloomberg L.P. 549300B56MD0ZC402L06 N Refinitiv US Holdings Inc. 549300NF240HXJO7N016 N ICE Data Services, Inc. 13-3668779 Tax ID N N State Street Trust Company Canada 549300L71XG2CTQ2V827 CA N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Standard Chartered Bank (Hong Kong) Limited X5AV1MBDXGRPX5UGMX13 HK N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Citibank, National Association (Sao Paulo, Sao Paulo, BR, Branch) E57ODZWZ7FF32TWEFA76 BR N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) State Street Bank and Trust Company 571474TGEMMWANRLN572 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) State Street Bank and Trust Company (Edinburgh, GB, Branch) 571474TGEMMWANRLN572 GB N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Clearstream Banking S.A. 549300OL514RA0SXJJ44 LU N Y Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) UBS Switzerland AG 549300WOIFUSNYH0FL22 CH N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) N DST Systems, Inc. 21B7QCD05XOK0YTYOP98 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 N N N Baron Capital, Inc. 8-27533 000010538 00000000000000000000 0 Goldman Sachs & Co. LLC 8-129 000000361 FOR8UP27PHTHYVLBNG30 20407.61 Morgan Stanley & Co. LLC 8-15869 000008209 9R7GPTSO7KV3UQJZQ078 14936.98 Citation Group Ltd. 8-43632 000028305 00000000000000000000 15154.4 UBS Securities LLC 8-22651 000007654 T6FIZBDPKLYJKFCRVK44 22417.52 Oppenheimer & Co. Inc. 8-4077 000000249 254900VH02JQR2L8XD64 32513.06 Raymond James & Associates, Inc. 8-10999 000000705 U4ONQX15J3RO8XCKE979 11448.13 William Blair & Company, L.L.C. 8-2698 000001252 549300J0P7XYE8BMZ775 32437.98 Piper Jaffray & Co. 8-15204 000000665 549300GRQCWQ3XGH0H10 12864.96 JonesTrading Institutional Services LLC 8-26089 000006888 2138008JJ5PA8H5UIL69 11950.6 Jefferies LLC 8-15074 000002347 58PU97L1C0WSRCWADL48 62502.01 385661.77 Citigroup Global Markets Inc. 8-8177 000007059 MBNUM2BPBDO7JBLYG310 32407584 JPMorgan Chase & Co. N/A 000000000 8I5DZWZKVSZI1NUHU748 48913787 Goldman Sachs & Co. LLC 8-129 000000361 FOR8UP27PHTHYVLBNG30 12373010 Morgan Stanley & Co. LLC 8-15869 000008209 9R7GPTSO7KV3UQJZQ078 8807103 State Street Bank and Trust Company N/A 000000000 571474TGEMMWANRLN572 23719207193.59 23821708677.59 N 3852879892.11 Committed 100000000 N N N N BARON GROWTH FUND S000000583 5493003RB1W6V2NH4T78 N 3 0 0 N/A N N Y N N State Street Bank and Trust Company 571474TGEMMWANRLN572 N N Revenue sharing split Cash collateral reinvestment fee 515466.08000000 349286.00000000 N/A N N N N BAMCO, Inc. 801-29080 000110789 5493004E8ITXDW4ZG169 N DST Systems, Inc. 84-00448 21B7QCD05XOK0YTYOP98 N N N Bloomberg L.P. 549300B56MD0ZC402L06 N Refinitiv US Holdings Inc. 549300NF240HXJO7N016 N ICE Data Services, Inc. 13-3668779 Tax ID N N Deutsche Bank Aktiengesellschaft (Paris, Paris, FR, Branch) 7LTWFZYICNSX8D621K86 FR N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) UniCredit Bank Austria AG D1HEB8VEU6D9M8ZUXG17 AT N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Deutsche Bank Aktiengesellschaft (Eschborn, Hessen, DE, Branch) 7LTWFZYICNSX8D621K86 DE N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Standard Chartered Bank (Hong Kong) Limited X5AV1MBDXGRPX5UGMX13 HK N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) State Street Trust Company Canada 549300L71XG2CTQ2V827 CA N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Skandinaviska Enskilda Banken AB (Oslo, Oslo, NO, Branch) F3JS33DEI6XQ4ZBPTN86 NO N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Deutsche Bank Aktiengesellschaft (Madrid, Madrid, ES, Branch) 7LTWFZYICNSX8D621K86 ES N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Citibank, National Association (Sao Paulo, Sao Paulo, BR, Branch) E57ODZWZ7FF32TWEFA76 BR N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Deutsche Bank Aktiengesellschaft (Amsterdam, Noord Holland, NL, Branch) 7LTWFZYICNSX8D621K86 NL N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) State Street Bank and Trust Company 571474TGEMMWANRLN572 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) Clearstream Banking S.A. 549300OL514RA0SXJJ44 LU N Y Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) Skandinaviska Enskilda Banken AB (Helsinki, Uusimaa, FI, Branch) F3JS33DEI6XQ4ZBPTN86 FI N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) State Street Bank and Trust Company (Edinburgh, GB, Branch) 571474TGEMMWANRLN572 GB N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) N DST Systems, Inc. 21B7QCD05XOK0YTYOP98 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 N N N Baron Capital, Inc. 8-27533 000010538 00000000000000000000 0 Stephens Inc. 8-1927 000003496 213800LH6T9XDYZCA534 16788.85 STIFEL NICOLAUS & CO INC. 8-1447 000000793 5WUVMA08EYG4KEUPW589 16396.26 Robert W. Baird & Co. Incorporated 8-497 000008158 549300772UJAHRD6LO53 21882.59 Goldman Sachs & Co. LLC 8-129 000000361 FOR8UP27PHTHYVLBNG30 24307.81 Jefferies LLC 8-15074 000002347 58PU97L1C0WSRCWADL48 83755.78 William Blair & Company, L.L.C. 8-2698 000001252 549300J0P7XYE8BMZ775 27937.49 Keefe, Bruyette & Woods Limited N/A 000000000 00000000000000000000 GB 19242.49 JonesTrading Institutional Services LLC 8-26089 000006888 2138008JJ5PA8H5UIL69 21054.9 KeyBanc Capital Markets Inc. 8-30177 000000566 2EQWV0180Z211YVAD813 17795.38 Barclays Capital Inc. 8-41342 000019714 AC28XWWI3WIBK2824319 47857.41 458483.19 State Street Bank and Trust Company N/A 000000000 571474TGEMMWANRLN572 7178651681.82 JPMorgan Chase & Co. N/A 000000000 8I5DZWZKVSZI1NUHU748 3308975 Goldman Sachs & Co. LLC 8-129 000000361 FOR8UP27PHTHYVLBNG30 8932640 Citigroup Global Markets Inc. 8-8177 000007059 MBNUM2BPBDO7JBLYG310 20108013.89 7211001310.71 N 6491718918.33 Committed 100000000 N N N true