BGRIX / Baron Investment Funds Trust - Baron Growth Fund Institutional - Arquivamentos da SEC, Relatório Anual, Declaração de Procuração

APP NTC

SECURITIES AND EXCHANGE COMMISSION Investment Company Act Release No. 35834 Multi-Class ETF Fund Exemptive Relief under the Investment Company Act of 1940 December 17, 2025 AGENCY: Securities and Exchange Commission (“Commission” or “SEC”). ACTION: Notice. Notice of applications under section 6(c) of the Investment Company Act of 1940 (“Act”), each for an exemption from sections 2(a)(32), 5(a)(1),

APP ORDR

UNITED STATES OF AMERICA BEFORE THE SECURITIES AND EXCHANGE COMMISSION INVESTMENT COMPANY ACT OF 1940 Release No.

July 5, 2024

July 5, 2024 VIA ELECTRONIC FILING U.S. Securities and Exchange Commission Division of Investment Management – Office of the Chief Accountant 100 F Street, NE Washington, DC 20549 Attention: Ms. Shandy Pumphrey Re: Baron Investment Funds Trust and Baron Select Fund’s Forms N-CSR for the fiscal years ended September 30, 2023 and December 31, 2023, respectively. File Nos. 811-05032; 811-21296. Dear

See Notes to Schedules of Investments.

Baron Asset Fund SCHEDULE OF INVESTMENTS JUNE 30, 2022 (UNAUDITED) Shares Cost Value Common Stocks (97.

See Notes to Schedules of Investments.

Baron Asset Fund SCHEDULE OF INVESTMENTS JUNE 30, 2022 (UNAUDITED) Shares Cost Value Common Stocks (97.

See Notes to Schedules of Investments.

Baron Asset Fund SCHEDULE OF INVESTMENTS JUNE 30, 2022 (UNAUDITED) Shares Cost Value Common Stocks (97.

See Notes to Schedules of Investments.

Baron Asset Fund SCHEDULE OF INVESTMENTS JUNE 30, 2022 (UNAUDITED) Shares Cost Value Common Stocks (97.

See Notes to Schedules of Investments.

Baron Asset Fund SCHEDULE OF INVESTMENTS JUNE 30, 2022 (UNAUDITED) Shares Cost Value Common Stocks (97.

See Notes to Schedules of Investments.

Baron Asset Fund SCHEDULE OF INVESTMENTS JUNE 30, 2022 (UNAUDITED) Shares Cost Value Common Stocks (97.

See Notes to Schedules of Investments.

Baron Asset Fund SCHEDULE OF INVESTMENTS JUNE 30, 2022 (UNAUDITED) Shares Cost Value Common Stocks (97.

See Notes to Schedules of Investments.

Baron Asset Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2021 (UNAUDITED) Shares Cost Value Common Stocks (98.

See Notes to Schedules of Investments.

Baron Asset Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2021 (UNAUDITED) Shares Cost Value Common Stocks (98.

See Notes to Schedules of Investments.

Baron Asset Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2021 (UNAUDITED) Shares Cost Value Common Stocks (98.

See Notes to Schedules of Investments.

Baron Asset Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2021 (UNAUDITED) Shares Cost Value Common Stocks (98.

See Notes to Schedules of Investments.

Baron Asset Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2021 (UNAUDITED) Shares Cost Value Common Stocks (98.

See Notes to Schedules of Investments.

Baron Asset Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2021 (UNAUDITED) Shares Cost Value Common Stocks (98.

See Notes to Schedules of Investments.

Baron Asset Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2021 (UNAUDITED) Shares Cost Value Common Stocks (98.

See Notes to Schedules of Investments.

Baron Asset Fund SCHEDULE OF INVESTMENTS JUNE 30, 2021 (UNAUDITED) Shares Cost Value Common Stocks (98.

See Notes to Schedules of Investments.

Baron Asset Fund SCHEDULE OF INVESTMENTS JUNE 30, 2021 (UNAUDITED) Shares Cost Value Common Stocks (98.

See Notes to Schedules of Investments.

Baron Asset Fund SCHEDULE OF INVESTMENTS JUNE 30, 2021 (UNAUDITED) Shares Cost Value Common Stocks (98.

See Notes to Schedules of Investments.

Baron Asset Fund SCHEDULE OF INVESTMENTS JUNE 30, 2021 (UNAUDITED) Shares Cost Value Common Stocks (98.

See Notes to Schedules of Investments.

Baron Asset Fund SCHEDULE OF INVESTMENTS JUNE 30, 2021 (UNAUDITED) Shares Cost Value Common Stocks (98.

See Notes to Schedules of Investments.

Baron Asset Fund SCHEDULE OF INVESTMENTS JUNE 30, 2021 (UNAUDITED) Shares Cost Value Common Stocks (98.

See Notes to Schedules of Investments.

Baron Asset Fund SCHEDULE OF INVESTMENTS JUNE 30, 2021 (UNAUDITED) Shares Cost Value Common Stocks (98.

June 8, 2021

June 8, 2021 VIA ELECTRONIC FILING U.S. Securities and Exchange Commission Division of Investment Management – Office of the Chief Accountant 100 F Street, NE Washington, DC 20549 Attention: Mr. Tony Burak Re: Baron Investment Funds Trust and Baron Select Fund’s Forms N-CSR for the fiscal years ended September 30, 2020 and December 31, 2020, respectively. File Nos. 811-05032; 811-21296. Dear Mr. B

See Notes to Schedules of Investments.

Baron Asset Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2020 (UNAUDITED) Shares Cost Value Common Stocks (99.

See Notes to Schedules of Investments.

Baron Asset Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2020 (UNAUDITED) Shares Cost Value Common Stocks (99.

See Notes to Schedules of Investments.

Baron Asset Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2020 (UNAUDITED) Shares Cost Value Common Stocks (99.

See Notes to Schedules of Investments.

Baron Asset Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2020 (UNAUDITED) Shares Cost Value Common Stocks (99.

See Notes to Schedules of Investments.

Baron Asset Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2020 (UNAUDITED) Shares Cost Value Common Stocks (99.

See Notes to Schedules of Investments.

Baron Asset Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2020 (UNAUDITED) Shares Cost Value Common Stocks (99.

See Notes to Schedules of Investments.

Baron Asset Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2020 (UNAUDITED) Shares Cost Value Common Stocks (99.

See Notes to Schedules of Investments.

HTML Baron Asset Fund SCHEDULE OF INVESTMENTS JUNE 30, 2020 (UNAUDITED) Shares Cost Value Common Stocks (98.

See Notes to Schedules of Investments.

HTML Baron Asset Fund SCHEDULE OF INVESTMENTS JUNE 30, 2020 (UNAUDITED) Shares Cost Value Common Stocks (98.

See Notes to Schedules of Investments.

HTML Baron Asset Fund SCHEDULE OF INVESTMENTS JUNE 30, 2020 (UNAUDITED) Shares Cost Value Common Stocks (98.

See Notes to Schedules of Investments.

HTML Baron Asset Fund SCHEDULE OF INVESTMENTS JUNE 30, 2020 (UNAUDITED) Shares Cost Value Common Stocks (98.

See Notes to Schedules of Investments.

HTML Baron Asset Fund SCHEDULE OF INVESTMENTS JUNE 30, 2020 (UNAUDITED) Shares Cost Value Common Stocks (98.

See Notes to Schedules of Investments.

HTML Baron Asset Fund SCHEDULE OF INVESTMENTS JUNE 30, 2020 (UNAUDITED) Shares Cost Value Common Stocks (98.

See Notes to Schedules of Investments.

HTML Baron Asset Fund SCHEDULE OF INVESTMENTS JUNE 30, 2020 (UNAUDITED) Shares Cost Value Common Stocks (98.

BARAX / BARON ASSET FUND DEF 14A - - BIFT & BSF PROXY STATEMENT

BIFT & BSF Proxy Statement UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.

See Notes to Schedules of Investments.

[862435.TX]1 Item 1. Schedule of Investments Baron Asset Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2019 (UNAUDITED) Shares Cost Value Common Stocks (98.31%) Communication Services (3.36%) Cable & Satellite (1.16%) 425,000 Liberty Broadband Corporation, Cl C 1 $ 32,000,689 $ 53,443,750 Interactive Media & Services (2.20%) 220,000 IAC/InterActiveCorp. 1 48,083,119 54,804,200 1,003,374 Zillow Group,

See Notes to Schedules of Investments.

[862435.TX]1 Item 1. Schedule of Investments Baron Asset Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2019 (UNAUDITED) Shares Cost Value Common Stocks (98.31%) Communication Services (3.36%) Cable & Satellite (1.16%) 425,000 Liberty Broadband Corporation, Cl C 1 $ 32,000,689 $ 53,443,750 Interactive Media & Services (2.20%) 220,000 IAC/InterActiveCorp. 1 48,083,119 54,804,200 1,003,374 Zillow Group,

See Notes to Schedules of Investments.

[862435.TX]1 Item 1. Schedule of Investments Baron Asset Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2019 (UNAUDITED) Shares Cost Value Common Stocks (98.31%) Communication Services (3.36%) Cable & Satellite (1.16%) 425,000 Liberty Broadband Corporation, Cl C 1 $ 32,000,689 $ 53,443,750 Interactive Media & Services (2.20%) 220,000 IAC/InterActiveCorp. 1 48,083,119 54,804,200 1,003,374 Zillow Group,

See Notes to Schedules of Investments.

[862435.TX]1 Item 1. Schedule of Investments Baron Asset Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2019 (UNAUDITED) Shares Cost Value Common Stocks (98.31%) Communication Services (3.36%) Cable & Satellite (1.16%) 425,000 Liberty Broadband Corporation, Cl C 1 $ 32,000,689 $ 53,443,750 Interactive Media & Services (2.20%) 220,000 IAC/InterActiveCorp. 1 48,083,119 54,804,200 1,003,374 Zillow Group,

See Notes to Schedules of Investments.

[862435.TX]1 Item 1. Schedule of Investments Baron Asset Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2019 (UNAUDITED) Shares Cost Value Common Stocks (98.31%) Communication Services (3.36%) Cable & Satellite (1.16%) 425,000 Liberty Broadband Corporation, Cl C 1 $ 32,000,689 $ 53,443,750 Interactive Media & Services (2.20%) 220,000 IAC/InterActiveCorp. 1 48,083,119 54,804,200 1,003,374 Zillow Group,

See Notes to Schedules of Investments.

[862435.TX]1 Item 1. Schedule of Investments Baron Asset Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2019 (UNAUDITED) Shares Cost Value Common Stocks (98.31%) Communication Services (3.36%) Cable & Satellite (1.16%) 425,000 Liberty Broadband Corporation, Cl C 1 $ 32,000,689 $ 53,443,750 Interactive Media & Services (2.20%) 220,000 IAC/InterActiveCorp. 1 48,083,119 54,804,200 1,003,374 Zillow Group,

See Notes to Schedules of Investments.

[862435.TX]1 Item 1. Schedule of Investments Baron Asset Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2019 (UNAUDITED) Shares Cost Value Common Stocks (98.31%) Communication Services (3.36%) Cable & Satellite (1.16%) 425,000 Liberty Broadband Corporation, Cl C 1 $ 32,000,689 $ 53,443,750 Interactive Media & Services (2.20%) 220,000 IAC/InterActiveCorp. 1 48,083,119 54,804,200 1,003,374 Zillow Group,

Baron Investment Funds Trust (f/k/a Baron Asset Fund) NPORT-EX - -

NPORT-EX 1 NPORT8677445543646440.htm Item 1. Schedule of Investments Baron Asset Fund SCHEDULE OF INVESTMENTS JUNE 30, 2019 (UNAUDITED) Shares Cost Value Common Stocks (97.65%) Communication Services (3.34%) Cable & Satellite (1.00%) 425,000 Liberty Broadband Corporation, Cl C 1 $ 32,000,689 $ 44,293,500 Interactive Media & Services (2.34%) 1,305,000 ANGI Homeservices, Inc., Cl A 1 21,459,729 16,9

Baron Investment Funds Trust (f/k/a Baron Asset Fund) NPORT-EX - -

HTML Item 1. Schedule of Investments Baron Asset Fund SCHEDULE OF INVESTMENTS JUNE 30, 2019 (UNAUDITED) Shares Cost Value Common Stocks (97.65%) Communication Services (3.34%) Cable & Satellite (1.00%) 425,000 Liberty Broadband Corporation, Cl C 1 $ 32,000,689 $ 44,293,500 Interactive Media & Services (2.34%) 1,305,000 ANGI Homeservices, Inc., Cl A 1 21,459,729 16,978,050 203,000 IAC/InterActiveCo

Baron Investment Funds Trust (f/k/a Baron Asset Fund) NPORT-EX - -

HTML Item 1. Schedule of Investments Baron Asset Fund SCHEDULE OF INVESTMENTS JUNE 30, 2019 (UNAUDITED) Shares Cost Value Common Stocks (97.65%) Communication Services (3.34%) Cable & Satellite (1.00%) 425,000 Liberty Broadband Corporation, Cl C 1 $ 32,000,689 $ 44,293,500 Interactive Media & Services (2.34%) 1,305,000 ANGI Homeservices, Inc., Cl A 1 21,459,729 16,978,050 203,000 IAC/InterActiveCo

Baron Investment Funds Trust (f/k/a Baron Asset Fund) NPORT-EX - -

Item 1. Schedule of Investments Baron Asset Fund SCHEDULE OF INVESTMENTS JUNE 30, 2019 (UNAUDITED) Shares Cost Value Common Stocks (97.65%) Communication Services (3.34%) Cable & Satellite (1.00%) 425,000 Liberty Broadband Corporation, Cl C 1 $ 32,000,689 $ 44,293,500 Interactive Media & Services (2.34%) 1,305,000 ANGI Homeservices, Inc., Cl A 1 21,459,729 16,978,050 203,000 IAC/InterActiveCorp. 1

Baron Investment Funds Trust (f/k/a Baron Asset Fund) NPORT-EX - -

HTML Item 1. Schedule of Investments Baron Asset Fund SCHEDULE OF INVESTMENTS JUNE 30, 2019 (UNAUDITED) Shares Cost Value Common Stocks (97.65%) Communication Services (3.34%) Cable & Satellite (1.00%) 425,000 Liberty Broadband Corporation, Cl C 1 $ 32,000,689 $ 44,293,500 Interactive Media & Services (2.34%) 1,305,000 ANGI Homeservices, Inc., Cl A 1 21,459,729 16,978,050 203,000 IAC/InterActiveCo

Baron Investment Funds Trust (f/k/a Baron Asset Fund) NPORT-EX - -

HTML Item 1. Schedule of Investments Baron Asset Fund SCHEDULE OF INVESTMENTS JUNE 30, 2019 (UNAUDITED) Shares Cost Value Common Stocks (97.65%) Communication Services (3.34%) Cable & Satellite (1.00%) 425,000 Liberty Broadband Corporation, Cl C 1 $ 32,000,689 $ 44,293,500 Interactive Media & Services (2.34%) 1,305,000 ANGI Homeservices, Inc., Cl A 1 21,459,729 16,978,050 203,000 IAC/InterActiveCo

Baron Investment Funds Trust (f/k/a Baron Asset Fund) NPORT-EX - -

HTML Item 1. Schedule of Investments Baron Asset Fund SCHEDULE OF INVESTMENTS JUNE 30, 2019 (UNAUDITED) Shares Cost Value Common Stocks (97.65%) Communication Services (3.34%) Cable & Satellite (1.00%) 425,000 Liberty Broadband Corporation, Cl C 1 $ 32,000,689 $ 44,293,500 Interactive Media & Services (2.34%) 1,305,000 ANGI Homeservices, Inc., Cl A 1 21,459,729 16,978,050 203,000 IAC/InterActiveCo

CERTIFICATIONS

Certifications CERTIFICATIONS I, Ronald Baron, certify that: 1. I have reviewed this report on Form N-Q of Baron Investment Funds Trust; 2. Based on my knowledge, this report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect t

Baron Investment Funds Trust (f/k/a Baron Asset Fund) - BARON INVESTMENT FUNDS TRUST

Baron Investment Funds Trust OMB APPROVAL OMB Number: 3235-0578 Expires: March 31, 2019 Estimated average burden Hours per response.

Baron Investment Funds Trust (f/k/a Baron Asset Fund) BARON INVESTMENT FUNDS TRUST (Quarterly Schedule of Portfolio Holdings)

Baron Investment Funds Trust OMB APPROVAL OMB Number: 3235-0578 Expires: March 31, 2019 Estimated average burden Hours per response.

CERTIFICATIONS

Certifications CERTIFICATIONS I, Ronald Baron, certify that: 1. I have reviewed this report on Form N-Q of Baron Investment Funds Trust; 2. Based on my knowledge, this report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect t

Baron Investment Funds Trust (f/k/a Baron Asset Fund) BARON INVESTMENT FUNDS TRUST (Quarterly Schedule of Portfolio Holdings)

N-Q 1 d534414dnq.htm BARON INVESTMENT FUNDS TRUST OMB APPROVAL OMB Number: 3235-0578 Expires: March 31, 2019 Estimated average burden Hours per response......... 10.5 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM N-Q QUARTERLY SCHEDULE OF PORFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANIES Investment Company Act file number: 811-5032 BARON INVESTMENT FUNDS

CERTIFICATIONS

Certifications CERTIFICATIONS I, Ronald Baron, certify that: 1. I have reviewed this report on Form N-Q of Baron Investment Funds Trust; 2. Based on my knowledge, this report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect t

Baron Investment Funds Trust

Baron Investment Funds Trust 767 Fifth Avenue, 49th Floor New York, NY 10153 Tel: 212.

Baron Investment Funds Trust (f/k/a Baron Asset Fund) CORRESP

Baron Durable Advantage Fund December 5, 2017 VIA ELECTRONIC TRANSMISSION Samantha Brutlag U.

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October 13, 2017

October 13, 2017 Deborah O?Neal Johnson U.S. Securities and Exchange Commission Division of Investment Management 100 F Street, NE Washington, D.C. 20549 Re: Baron Investment Funds Trust ? (File Nos. 033-12112 and 811-05032) Dear Ms. O?Neal Johnson: Enclosed please find a courtesy copy of the 485APOS amendment to the Registration Statement for Baron Investment Funds Trust (the ?Registrant?) as fil

Baron Investment Funds Trust

Baron Investment Funds Trust 767 Fifth Avenue, 49th Floor New York, NY 10153 Tel: 212.

Baron Investment Funds Trust (f/k/a Baron Asset Fund) - BARON INVESTMENT FUNDS TRUST

OMB APPROVAL OMB Number: 3235-0578 Expires: March 31, 2019 Estimated average burden Hours per response.

CERTIFICATIONS

Certifications CERTIFICATIONS I, Ronald Baron, certify that: 1. I have reviewed this report on Form N-Q of Baron Investment Funds Trust; 2. Based on my knowledge, this report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect t

Baron Investment Funds Trust (f/k/a Baron Asset Fund) - BARON INVESTMENT FUNDS TRUST

N-Q 1 d339694dnq.htm BARON INVESTMENT FUNDS TRUST OMB APPROVAL OMB Number: 3235-0578 Expires: March 31, 2019 Estimated average burden Hours per response . . . . . . . . . 10.5 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM N-Q QUARTERLY SCHEDULE OF PORFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANIES Investment Company Act file number: 811-5032 BARON INVESTME

CERTIFICATIONS

EX-99.CERT 2 d339694dex99cert.htm CERTIFICATIONS CERTIFICATIONS I, Ronald Baron, certify that: 1. I have reviewed this report on Form N-Q of Baron Investment Funds Trust; 2. Based on my knowledge, this report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were m

Baron Investment Funds Trust (f/k/a Baron Asset Fund) - BARON INVESTMENT FUNDS TRUST

Baron Investment Funds Trust OMB APPROVAL OMB Number: 3235-0578 Expires: March 31, 2019 Estimated average burden Hours per response.

CERTIFICATIONS

Certifications CERTIFICATIONS I, Ronald Baron, certify that: 1. I have reviewed this report on Form N-Q of Baron Investment Funds Trust; 2. Based on my knowledge, this report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect t

CERTIFICATIONS

Certifications CERTIFICATIONS I, Ronald Baron, certify that: 1. I have reviewed this report on Form N-Q of Baron Investment Funds Trust; 2. Based on my knowledge, this report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect t

Baron Investment Funds Trust (f/k/a Baron Asset Fund) - BARON INVESTMENT FUNDS TRUST

Baron Investment Funds Trust OMB APPROVAL OMB Number: 3235-0578 Expires: March 31, 2019 Estimated average burden Hours per response.

Baron Investment Funds Trust (f/k/a Baron Asset Fund)

OMB APPROVAL OMB Number: 3235-0578 Expires: February 29, 2016 Estimated average burden Hours per response .

CERTIFICATIONS

CERTIFICATIONS I, Ronald Baron, certify that: 1. I have reviewed this report on Form N-Q of Baron Investment Funds Trust; 2. Based on my knowledge, this report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period co

1

February 8, 2016 VIA ELECTRONIC FILING U.S. Securities and Exchange Commission Division of Investment Management ? Office of the Chief Accountant 100 F Street, NE Washington, DC 20549 Attention: Mr. Tony Burak Re: Baron Investment Funds Trust?s Form N-CSR for the fiscal year ended September 30, 2015, File Nos. 033-12112; 811-05032 Dear Mr. Burak: This letter is in response to comments that Baron I

1

January 14, 2016 VIA ELECTRONIC TRANSMISSION Deborah O?Neal Johnson U.S. Securities and Exchange Commission Division of Investment Management 100 F Street, NE Washington, DC 20549 Re: Baron Investment Funds Trust and Baron Select Funds (each, a ?Registrant,? and collectively, the ?Registrants?)?U.S. Securities and Exchange Commission (?SEC? or the ?Staff?) Review of Post-Effective Amendment Nos. 5

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Baron Investment Funds Trust

SEC TRANSMITTAL LETTER Baron Investment Funds Trust 767 Fifth Avenue, 49th Floor New York, NY 10153 Tel: 212.

November 17, 2015

November 17, 2015 Deborah O?Neal Johnson U.S. Securities and Exchange Commission Division of Investment Management 100 F Street, NE Washington, D.C. 20549 Re: Baron Investment Funds Trust ? (File Nos. 033-12112 and 811-05032) Dear Ms. O?Neal Johnson: Enclosed please find a courtesy copy of the 485APOS amendment to the Registration Statement for Baron Investment Funds Trust (the ?Registrant?) as fi

Baron Investment Funds Trust

Baron Investment Funds Trust 767 Fifth Avenue, 49th Floor New York, NY 10153 Tel: 212.

CERTIFICATIONS

CERTIFICATIONS I, Ronald Baron, certify that: 1. I have reviewed this report on Form N-Q of Baron Investment Funds Trust; 2. Based on my knowledge, this report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period co

Baron Investment Funds Trust (f/k/a Baron Asset Fund)

OMB APPROVAL OMB Number: 3235-0578 Expires: January 31, 2016 Estimated average burden Hours per response .

Baron Investment Funds Trust (f/k/a Baron Asset Fund)

OMB APPROVAL OMB Number: 3235-0578 Expires: January 31, 2016 Estimated average burden Hours per response .

CERTIFICATIONS

CERTIFICATIONS I, Ronald Baron, certify that: 1. I have reviewed this report on Form N-Q of Baron Investment Funds Trust; 2. Based on my knowledge, this report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period co

BARAX / BARON ASSET FUND N-Q - Quarterly Schedule of Portfolio Holdings -

OMB APPROVAL OMB Number: 3235-0578 Expires: January 31, 2016 Estimated average burden Hours per response .

CERTIFICATIONS

CERTIFICATIONS I, Ronald Baron, certify that: 1. I have reviewed this report on Form N-Q of Baron Investment Funds Trust; 2. Based on my knowledge, this report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period co

BGRIX / Baron Growth Instl CORRESP - -

SEC Correspondence Letter July 25, 2014 Laura Hatch Staff Accountant U.S. Securities and Exchange Commission Division of Investment Management 100 F Street, NE Washington, DC 20549 Re: Baron Investment Funds Trust & Baron Select Funds (the “Registrants”)—U.S. Securities and Exchange Commission (“SEC” or the “Staff”) Sarbanes-Oxley Act Accounting Review, File Nos. 033-12112; 811-05032 & File Nos. 3

Quarterly Schedule of Portfolio Holdings -

OMB APPROVAL OMB Number: 3235-0578 Expires: January 31, 2016 Estimated average burden Hours per response .

CERTIFICATIONS

CERTIFICATIONS I, Ronald Baron, certify that: 1. I have reviewed this report on Form N-Q of Baron Investment Funds Trust; 2. Based on my knowledge, this report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period co

Quarterly Schedule of Portfolio Holdings -

OMB APPROVAL OMB Number: 3235-0578 Expires: April 30, Estimated average burden Hours per response.

CERTIFICATIONS

CERTIFICATIONS I, Ronald Baron, certify that: 1. I have reviewed this report on Form N-Q of Baron Investment Funds Trust; 2. Based on my knowledge, this report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period co

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CORRESPONDENCE LETTER July 15, 2013 Howie Hallock U.S. Securities and Exchange Commission Division of Investment Management 100 F Street, NE Washington, D.C. 20549 Re: Baron Investment Funds Trust – (File Nos. 033-12112 and 811-05032) Dear Mr. Hallock: Enclosed please find a courtesy copy of the 485APOS amendment to the Registration Statement for Baron Investment Funds Trust (the “Registrant”) as

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SEC TRANSMITTAL LETTER Baron Investment Funds Trust 767 Fifth Avenue, 49th Floor New York, NY 10153 Tel: 212.

CERTIFICATIONS

CERTIFICATIONS I, Ronald Baron, certify that: 1. I have reviewed this report on Form N-Q of Baron Investment Funds Trust; 2. Based on my knowledge, this report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period co

Quarterly Schedule of Portfolio Holdings -

OMB APPROVAL OMB Number: 3235-0578 Expires: April 30, Estimated average burden Hours per response.

CERTIFICATIONS

CERTIFICATIONS I, Ronald Baron, certify that: 1. I have reviewed this report on Form N-Q of Baron Investment Funds Trust; 2. Based on my knowledge, this report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period co

Quarterly Schedule of Portfolio Holdings -

OMB APPROVAL OMB Number: 3235-0578 Expires: April 30, 2013 Estimated average burden Hours per response .

CERTIFICATIONS

EX-99.CERT CERTIFICATIONS I, Ronald Baron, certify that: 1. I have reviewed this report on Form N-Q of Baron Investment Funds Trust; 2. Based on my knowledge, this report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to th

Quarterly Schedule of Portfolio Holdings -

N-Q 1 e84576.htm UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number: 811-5032 BARON INVESTMENT FUNDS TRUST (Exact name of registrant as specified in charter) 767 Fifth Avenue, 49th Floor, New York, NY 10153 (Address of Principal Executive Offices) (Zip

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number: 811-5032 BARON INVESTMENT FUNDS TRUST (Exact name

Baron Investment Fund Trust OMB APPROVAL OMB Number: 3235-0578 Expires: April 30, 2013 Estimated average burden hours per response.

CERTIFICATIONS

CERTIFICATIONS I, Ronald Baron, certify that: 1. I have reviewed this report on Form N-Q of Baron Investment Funds Trust; 2. Based on my knowledge, this report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period co

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number: 811-5032 BARON INVESTMENT FUNDS TRUST (Exact name

OMB APPROVAL OMB Number: 3235-0578 Expires: April 30, 2013 Estimated average burden hours per response.

CERTIFICATIONS

Certifications CERTIFICATIONS I, Ronald Baron, certify that: 1. I have reviewed this report on Form N-Q of Baron Investment Funds Trust; 2. Based on my knowledge, this report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect t

CERTIFICATIONS

Certifications CERTIFICATIONS I, Ronald Baron, certify that: 1. I have reviewed this report on Form N-Q of Baron Investment Funds Trust; 2. Based on my knowledge, this report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect t

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number: 811-5032 BARON INVESTMENT FUNDS TRUST (Exact name

OMB APPROVAL OMB Number: 3235-0578 Expires: April 30, 2013 Estimated average burden hours per response.

CERTIFICATIONS

Certifications (302) CERTIFICATIONS I, Ronald Baron, certify that: 1. I have reviewed this report on Form N-Q of Baron Investment Funds Trust; 2. Based on my knowledge, this report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with res

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number: 811-5032 BARON INVESTMENT FUNDS TRUST (Exact name

OMB APPROVAL OMB Number: 3235-0578 Expires: April 30, 2010 Estimated average burden hours per response.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number: 811-5032 BARON INVESTMENT FUNDS TRUST (Exact name

Baron Investment Funds Trust-5 Fund-BAF,BGF,BSCF,BIOP,BFAVE-N-Q OMB APPROVAL OMB Number: 3235-0578 Expires: April 30, 2010 Estimated average burden hours per response.

OMB Number: 3235 -0578 Expires: April 30, 2010 Estimated average burden hours per response... 10.5

OMB APPROVAL OMB Number: 3235 -0578 Expires: April 30, 2010 Estimated average burden hours per response.

Ronald Baron

CERTIFICATIONS I, Ronald Baron, certify that: 1. I have reviewed this report on Form N-Q of Baron Investment Funds Trust; 2. Based on my knowledge, this report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period co

OMB Number: 3235 -0578 Expires: April 30, 2010 Estimated average burden hours per response... 10.5

OMB APPROVAL OMB Number: 3235 -0578 Expires: April 30, 2010 Estimated average burden hours per response.

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Baron Investment Funds Trust June 9, 2008 VIA ELECTRONIC FILING U.S. Securities and Exchange Commission Division of Investment Management 100 F Street, NE Washington, DC 20549 Attention: Ms. Patsy Mengiste Re: Baron Investment Funds Trust Form N-CSR for the fiscal year ended September 30, 2007, File Nos. 033-12112; 811-5032 Dear Ms. Mengiste: Below please find responses to the comments received fr

N-Q

UNITED STATES - SECURITIES AND EXCHANGE COMMISSION | OMB APPROVAL | Washington, DC 20549 |-| |OMB Number: 3235 -0578 | |Expires: May 31, 2008| |Estimated average burden | |hours per response.

EX-99.CERT

I, RONALD BARON, certify that: 1. I have reviewed this report on Form N-Q of Baron Investment Funds Trust; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this

N-Q

UNITED STATES - SECURITIES AND EXCHANGE COMMISSION | OMB APPROVAL | Washington, DC 20549 |-| |OMB Number: 3235 -0578 | |Expires: May 31, 2008| |Estimated average burden | |hours per response.

EX-99.CERT

I, RONALD BARON, certify that: 1. I have reviewed this report on Form N-Q of Baron Investment Funds Trust; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this

EX-99

I, RONALD BARON, certify that: 1. I have reviewed this report on Form N-Q of Baron Investment Funds Trust; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this

N-Q

UNITED STATES - SECURITIES AND EXCHANGE COMMISSION | OMB APPROVAL | Washington, DC 20549 |-| |OMB Number: 3235 -0578 | |Expires: May 31, 2007| |Estimated average burden | |hours per response.

DEF 14A

UNITED STATES - SECURITIES AND EXCHANGE COMMISSION | OMB APPROVAL | Washington, DC 20549 |-| |OMB Number: 3235-0059 | |Expires: January 21, 2008| |Estimated average burden | |hours per response.

DEF 14A

UNITED STATES - SECURITIES AND EXCHANGE COMMISSION | OMB APPROVAL | Washington, DC 20549 |-| |OMB Number: 3235-0059 | |Expires: January 21, 2008| |Estimated average burden | |hours per response.

DEF 14A

UNITED STATES - SECURITIES AND EXCHANGE COMMISSION | OMB APPROVAL | Washington, DC 20549 |-| |OMB Number: 3235-0059 | |Expires: January 21, 2008| |Estimated average burden | |hours per response.

DEF 14A

UNITED STATES - SECURITIES AND EXCHANGE COMMISSION | OMB APPROVAL | Washington, DC 20549 |-| |OMB Number: 3235-0059 | |Expires: January 21, 2008| |Estimated average burden | |hours per response.

DEF 14A

UNITED STATES - SECURITIES AND EXCHANGE COMMISSION | OMB APPROVAL | Washington, DC 20549 |-| |OMB Number: 3235-0059 | |Expires: January 21, 2008| |Estimated average burden | |hours per response.

DEF 14A

UNITED STATES - SECURITIES AND EXCHANGE COMMISSION | OMB APPROVAL | Washington, DC 20549 |-| |OMB Number: 3235-0059 | |Expires: January 21, 2008| |Estimated average burden | |hours per response.

PRE 14A

UNITED STATES - SECURITIES AND EXCHANGE COMMISSION | OMB APPROVAL | Washington, DC 20549 |-| |OMB Number: 3235-0059 | |Expires: January 21, 2008| |Estimated average burden | |hours per response.

EX-99.CERT

I, RONALD BARON, certify that: 1. I have reviewed this report on Form N-Q of Baron Investment Funds Trust; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this

N-Q

UNITED STATES - SECURITIES AND EXCHANGE COMMISSION | OMB APPROVAL | Washington, DC 20549 |-| |OMB Number: 3235 -0578 | |Expires: May 31, 2007| |Estimated average burden | |hours per response.

EX-99.CERT

I, RONALD BARON, certify that: 1. I have reviewed this report on Form N-Q of Baron Investment Funds Trust; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this

N-Q

UNITED STATES - SECURITIES AND EXCHANGE COMMISSION | OMB APPROVAL | Washington, DC 20549 |-| |OMB Number: 3235 -0578 | |Expires: May 31, 2007| |Estimated average burden | |hours per response.

EX-99.CERT

I, RONALD BARON, certify that: 1. I have reviewed this report on Form N-Q of Baron Investment Funds Trust; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this

N-Q

UNITED STATES - SECURITIES AND EXCHANGE COMMISSION | OMB APPROVAL | Washington, DC 20549 |-| |OMB Number: 3235 -0578 | |Expires: February 28, 2006| |Estimated average burden | |hours per response.

EX-99.CERT

I, RONALD BARON, certify that: 1. I have reviewed this report on Form N-Q of Baron Investment Funds Trust; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this

N-Q

UNITED STATES - SECURITIES AND EXCHANGE COMMISSION | OMB APPROVAL | Washington, DC 20549 |-| |OMB Number: 3235 -0578 | |Expires: February 28, 2006| |Estimated average burden | |hours per response.

DEF 14A

DEF 14A 1 additionaldefmaterials.txt DEFINITIVE ADDITIONAL MATERIAL TO THE BARON ASSET FUND PROXY STATEMENT - OMB APPROVAL - OMB Number: 3235-0059 UNITED STATES Expires: February 28, 2006 SECURITIES AND EXCHANGE COMMISSION Estimated average burden hours per response...... 12.75 - Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE SECURITIES EXCHANGE ACT OF 1934 (A

DEF 14A

DEF 14A 1 defproxy0904.txt DEFINITIVE PROXY MATERIALS FOR BARON ASSET FUND - OMB APPROVAL - OMB Number: 3235-0059 UNITED STATES Expires: February 28, 2006 SECURITIES AND EXCHANGE COMMISSION Estimated average burden hours per response...... 12.75 - Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. ) Filed by the Regis

PRE 14A

- OMB APPROVAL - OMB Number: 3235-0059 UNITED STATES Expires: February 28, 2006 SECURITIES AND EXCHANGE COMMISSION Estimated average burden hours per response.

NSAR-A

NSAR-A 1 answer.fil BARON ASSET FUND N-SAR REPORT PAGE 1 000 A000000 03/31/2003 000 C000000 0000810902 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 6.1 000 J000000 A 001 A000000 BARON ASSET FUND 001 B000000 811-5032 001 C000000 2125832000 002 A000000 767 FIFTH AVENUE, 49TH FLOOR 002 B000000 NEW YORK 002 C000000 NY 002 D010000 10153 003 000000 N 004 000000 N 00

EX-99

EX-99 4 certificationpw.txt CERTIFICATION LETTER BARON FUNDS 767 Fifth Avenue New York, NY 10153 I, PEGGY WONG, certify that: 1. I have reviewed this report on Form N-SAR of Baron Asset Fund; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which

EX-99

EX-99 5 certificationrb.txt CERTIFICATION LETTER BARON FUNDS 767 Fifth Avenue New York, NY 10153 I, RONALD BARON, certify that: 1. I have reviewed this report on Form N-SAR of Baron Asset Fund; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under whi

NSAR-B

PAGE 1 000 B000000 09/30/2002 000 C000000 0000810902 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 6.

144

144 1 bioform144.txt FORM 144 FOR BARON IOPPORTUNITY FUND UNITED STATES OMB APPROVAL SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OMB Number: 3235-0101 Expires:August 31, 2003 FORM 144 Estimated average burden hours per response.....2.0 NOTICE OF PROPOSED SALE OF SECURITIES SEC USE ONLY PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933 Document Sequence No. ATTENTION: Transmit for

144

144 1 bafform144.txt FORM 144 FOR BARON ASSET FUND UNITED STATES OMB APPROVAL SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OMB Number: 3235-0101 Expires:August 31, 2003 FORM 144 Estimated average burden hours per response.....2.0 NOTICE OF PROPOSED SALE OF SECURITIES SEC USE ONLY PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933 Document Sequence No. ATTENTION: Transmit for filing

NSAR-A

PAGE 1 000 A000000 03/31/2001 000 C000000 0000810902 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 6.

EX-27

6 0000810902 BARON ASSET FUND 3 BARON SMALL CAP FUND 12-MOS SEP-30-2000 OCT-01-1999 SEP-30-2000 616,554,078 872,144,309 15,535,055 593,670 0 888,273,034 5,384,385 0 3,358,770 8,743,155 0 607,137,509 54,807,115 53,530,434 0 0 16,802,139 0 255,590,231 879,529,879 223,693 3,915,730 0 12,958,438 (8,819,015) 73,341,042 88,905,189 153,427,216 0 0 0 0 28,848,269 (27,571,588) 0 163,846,747 0 (55,944,421) 0 0 9,766,731 0 12,958,438 976,465,703 13.

EX-27

6 0000810902 BARON ASSET FUND 3 BARON SMALL CAP FUND 6-MOS SEP-30-2000 OCT-01-1999 MAR-31-2000 694,424,539 1,078,521,350 11,045,047 416,778 0 1,089,983,175 3,610,257 0 747,701 4,357,958 0 717,293,300 60,863,986 53,530,434 (3,910,668) 0 (11,854,226) 0 384,096,811 1,085,625,217 114,562 2,433,282 0 6,458,512 (3,910,668) 44,090,195 217,411,769 257,591,296 0 0 0 0 20,975,818 (13,642,266) 0 369,942,085 0 (55,944,421) 0 0 4,845,633 0 6,458,512 970,947,622 13.

NSAR-A

PAGE 1 000 A000000 03/31/2000 000 C000000 0000810902 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 6.

EX-27

6 0000810902 BARON ASSET FUND 2 BARON GROWTH FUND 6-MOS SEP-30-2000 OCT-01-1999 MAR-31-2000 420,160,813 629,396,690 11,212,200 9,849 0 640,618,739 2,645,908 0 533,219 3,179,127 0 395,252,778 18,668,970 15,121,926 (2,288,988) 0 35,239,945 0 209,235,877 637,439,612 908,407 653,693 0 3,851,088 (2,288,988) 36,051,709 91,347,358 125,110,079 0 0 (29,536,361) 0 6,964,829 (4,447,491) 1,029,706 198,014,828 0 28,724,597 0 0 2,822,947 8,997 3,851,088 566,156,165 29.

EX-27

6 0000810902 BARON ASSET FUND 1 BARON ASSET FUND 6-MOS SEP-30-2000 OCT-01-1999 MAR-31-2000 3,455,862,191 5,695,588,166 77,241,127 248,899 0 5,773,078,192 3,283,915 0 21,642,262 24,926,177 0 3,217,043,428 88,721,475 113,687,936 (33,490,245) 0 324,872,857 0 2,239,725,975 5,748,152,015 5,669,863 150,611 0 39,310,719 (33,490,245) 375,007,902 967,038,908 1,308,556,565 0 0 0 0 11,016,028 (35,982,489) 0 (114,973,000) 0 (50,135,045) 0 0 29,096,788 1,083,845 39,310,719 5,807,882,429 51.

EX-27

6 0000810902 BARON ASSET FUND 4 BARON IOPPORTUNITY FUND 6-MOS SEP-30-2000 FEB-29-2000 MAR-31-2000 250,174,737 244,292,799 1,263,314 811,025 0 246,367,138 16,299,208 0 366,749 16,635,957 0 233,169,298 23,297,726 0 476,883 0 1,966,938 0 (5,881,938) 229,731,181 0 765,232 0 288,349 476,883 1,966,938 (5,881,938) (3,438,117) 0 0 0 0 24,159,302 (861,576) 0 229,731,181 0 0 0 0 192,363 0 366,901 227,307,654 10.