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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>indie Semiconductor Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Inspire Medical Systems Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Karman Holdings Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Kinsale Capital Group Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Kratos Defense &amp; Security Solutions Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Liberty Live Holdings Inc</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Liberty Media Corp-Liberty Formula One</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Loar Holdings Inc</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Mercury Systems Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Montrose Environmental Group Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Netskope Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Novanta Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Primo Brands Corp</name>
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        <name>Procore Technologies Inc</name>
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        <name>RBC Bearings Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Repligen Corp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>SentinelOne Inc</name>
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        <name>ServiceTitan Inc</name>
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        <name>ARS Pharmaceuticals Inc</name>
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        <name>SiteOne Landscape Supply Inc</name>
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        <name>SiTime Corp</name>
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        <name>StepStone Group Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>TWFG Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Tempus AI Inc</name>
        <lei>2549009LA0KWRAGQBX50</lei>
        <title>Tempus AI Inc</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Texas Roadhouse Inc</name>
        <lei>5299002Y1CNRPDGXTQ75</lei>
        <title>Texas Roadhouse Inc</title>
        <cusip>882681109</cusip>
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          <isin value="US8826811098"/>
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        <balance>205000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>33853700.00000000</valUSD>
        <pctVal>2.069021987720</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Varonis Systems Inc</name>
        <lei>549300SHIVNRRH7STS26</lei>
        <title>Varonis Systems Inc</title>
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        <valUSD>19022420.00000000</valUSD>
        <pctVal>1.162585042097</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
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      <invstOrSec>
        <name>Veracyte Inc</name>
        <lei>529900ESWZRHXOW27Z37</lei>
        <title>Veracyte Inc</title>
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        <balance>468790.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Waystar Holding Corp</name>
        <lei>529900QJLKXDYU36MH89</lei>
        <title>Waystar Holding Corp</title>
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          <isin value="US9467841055"/>
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        <balance>1650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>39781500.00000000</valUSD>
        <pctVal>2.431308784696</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Wingstop Inc</name>
        <lei>549300SSH3F8HPIM3Q47</lei>
        <title>Wingstop Inc</title>
        <cusip>974155103</cusip>
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          <isin value="US9741551033"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>23245500.00000000</valUSD>
        <pctVal>1.420685201781</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wynn Resorts Ltd</name>
        <lei>254900CEKKWIHTEAB172</lei>
        <title>Wynn Resorts Ltd</title>
        <cusip>983134107</cusip>
        <identifiers>
          <isin value="US9831341071"/>
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        <balance>350000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>35542500.00000000</valUSD>
        <pctVal>2.172235649236</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Establishment Labs Holdings Inc</name>
        <lei>549300BCBQ714JNJ7V58</lei>
        <title>Establishment Labs Holdings Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="VGG312491084"/>
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        <balance>689845.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>39169399.10000000</valUSD>
        <pctVal>2.393899277883</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VG</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>On Holding AG</name>
        <lei>506700FB3467B9W95526</lei>
        <title>On Holding AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH1134540470"/>
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        <balance>425000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14458500.00000000</valUSD>
        <pctVal>0.883653911077</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Birkenstock Holding Plc</name>
        <lei>529900CQ8LQKQ7LIT631</lei>
        <title>Birkenstock Holding Plc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JE00BS44BN30"/>
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        <balance>850000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>30455500.00000000</valUSD>
        <pctVal>1.861335663369</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nova Ltd</name>
        <lei>529900B2DSWE5V3SC292</lei>
        <title>Nova Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0010845571"/>
        </identifiers>
        <balance>50329.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21856878.12000000</valUSD>
        <pctVal>1.335817397011</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Stevanato Group SpA</name>
        <lei>81560033F7E1CD477507</lei>
        <title>Stevanato Group SpA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0005452658"/>
        </identifiers>
        <balance>1681429.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23119648.75000000</valUSD>
        <pctVal>1.412993605192</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-04-22</ncom:dateSigned>
      <ncom:nameOfApplicant>BARON INVESTMENT FUNDS TRUST (f/k/a BARON ASSET FUND)</ncom:nameOfApplicant>
      <ncom:signature>Christopher Snively</ncom:signature>
      <ncom:signerName>Christopher Snively</ncom:signerName>
      <ncom:title>Chief Financial Officer and Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
