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Form N-PX · fund registrantSEC filer no. 1217673

BARON SELECT FUNDS

fund voting report

Vote records reported
5,314year to 30 June 2026
Against management
9.6%471 of 4,916 marked votes
Say-on-pay support
84.2%for, of for + against + abstain
Shareholder-proposal support
38.7%for, of for + against + abstain
89.1% for8.6% against2.3% other9.6% against management4,959 votes

foragainstabstain, withhold or otheramber tick: the portion cast against management

For the year to 30 June 2026, BARON SELECT FUNDS reported 5,314 vote records on Form N-PX. 471 of the 4,916 votes that were marked for or against management went against management: 9.6%, 3.4 percentage points above the median fund registrant (6.2%).

Weighted by the number of shares voted, the against-management share is 10.7%. The two figures differ when the votes against management fall on larger or smaller holdings than the rest.

On pay and on shareholder proposals: it voted for 84.2% of the section 14A say-on-pay items it reported (the median fund registrant: 91.6%) and it voted for 38.7% of the proposals put forward by security holders (the median fund registrant: 27.5%).

By category, votes against management were most frequent in COMPENSATION (22.0% of 523), CAPITAL STRUCTURE (15.9% of 496) and CORPORATE GOVERNANCE (15.6% of 944).

It reported 182,460 shares out on loan at record dates, 0.00% of the shares it held or had lent across the meetings it reported. Shares on loan are not voted.

Compared with other filers

Each rate is defined once, in the methodology. The median is taken over 1,241 fund registrants with at least 25 vote records in the season.

year to 30 June 2026This filerMedian fund registrantAll filers pooled
Against-management share9.6%6.2%10.6%
Say-on-pay support rate84.2%91.6%86.0%
Shareholder-proposal support rate38.7%27.5%33.9%
Shares on loan, share of shares held0.00%0.00%3.12%
Largest families, year to 30 June 2026Against managementSay-on-pay supportShareholder-proposal support
Vanguard20.1%94.1%42.0%
BlackRock and iShares7.5%88.3%11.9%
Fidelity6.0%94.7%27.6%
Dimensional16.4%78.9%57.4%
State Street and SPDR16.9%77.1%50.4%

Of the 5,314 vote records in this filing, 385 carry something the form does not expect: a missing vote source or category, a record with no vote line, a meeting date that cannot be read, or a security identifier this site could not use. They are counted as filed. What is checked

Votes by category

Filers choose one or more categories for each vote, so a vote can appear in more than one row. Category names are printed as Form N-PX defines them.

Category (as the form names it)VotesForAgainstAgainst managementSplit
DIRECTOR ELECTIONS2,4172,329463.6%
SECTION 14A SAY-ON-PAY VOTES2051603014.6%
AUDIT-RELATED41240292.4%
SHAREHOLDER RIGHTS AND DEFENSES2019052.6%
EXTRAORDINARY TRANSACTIONS383537.9%
CAPITAL STRUCTURE4964187815.9%
COMPENSATION52440311722.0%
CORPORATE GOVERNANCE96679811015.6%
ENVIRONMENT OR CLIMATE307230.0%
HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE189911.1%
DIVERSITY, EQUITY, AND INCLUSION197120.0%
OTHER SOCIAL ISSUES4311320.0%
OTHER312926.7%

By season

SeasonVote recordsAgainst managementSay-on-pay supportShareholder-proposal supportSplit
year to 30 June 20246,28010.7%83.4%49.7%
year to 30 June 20255,6469.1%82.9%33.6%
year to 30 June 20265,3149.6%84.2%38.7%

Say-on-pay votes against management

Counting one say-on-pay item per company meeting, BARON SELECT FUNDS voted against management on 20 of the 136 it marked either way (14.7%) in the year to 30 June 2026.

Shareholder proposals it supported

Of 74 proposals from security holders that could be told apart in the filings and on which it cast a vote, BARON SELECT FUNDS voted for 28 (37.8%). Titles are the most common wording among filers; where a wording could name a person, the SEC category is printed instead.

CompanyMeetingProposal
Microsoft Corporation5 Dec 2025Report on Human Rights Due Diligence
Microsoft Corporation5 Dec 2025Report on Data Operations in Human Rights Hotspots
NVIDIA Corporation24 Jun 2026Approval of a non-binding stockholder proposal requesting the replacement of supermajority voting...
Visa Inc.27 Jan 2026Shareholder proposal on shareholder right to act by written consent.
Tesla, Inc.6 Nov 2025Declassify the Board of Directors
Tesla, Inc.6 Nov 2025Shareholder proposal: CORPORATE GOVERNANCE
Micron Technology, Inc.15 Jan 2026Reduce Ownership Threshold for Shareholders to Call Special Meeting
Lam Research Corporation4 Nov 2025Stockholder proposal titled "Realistic Shareholder Ability to Call for a Special Shareholder Meeting,"
Boston Scientific Corporation30 Apr 2026Stockholder proposal titled "Give Shareholders the Ability to Call for a Special Shareholder Meeting."
Vertex Pharmaceuticals Incorporated13 May 2026Shareholder proposal, if properly presented at the meeting, regarding shareholder right to act by written...
The Sherwin-Williams Company22 Apr 2026Shareholder Proposal Regarding Shareholder Ability to Call a Special Meeting
Snowflake Inc.29 Jun 2026To consider and vote on, if properly presented at the meeting, a non-binding stockholder proposal...
Equinix, Inc.13 May 2026Consideration and vote upon a stockholder proposal, if properly presented at the Annual Meeting, related...
Airbnb, Inc.5 Jun 2026Dual-class sunset; and
CBRE Group, Inc.21 May 2026Stockholder proposal regarding our stockholders' ability to call special stockholder meetings.
Datadog, Inc.15 Jun 2026The stockholder proposal, if properly presented at the Annual Meeting, requesting the adoption of a simple...
Verisk Analytics, Inc.19 May 2026Shareholder Proposal - Shareholder Right to Act by Written Consent.
Zscaler, Inc.12 Jan 2026To vote on a non-binding stockholder proposal requesting the declassification of our board of directors.
Jack Henry & Associates, Inc.12 Nov 2025Stockholder proposal titled "Improved Shareholder Ability to Call for a Special Shareholder Meeting"
Fortune Brands Innovations, Inc.5 May 2026Advisory vote to approve named executive officer compensation
PENN Entertainment, Inc.16 Jun 2026Declassify the board of directors
Contemporary Amperex Technology Co., Ltd.25 Dec 2025Shareholder proposal: CAPITAL STRUCTURE
Brunello Cucinelli SpA23 Apr 2026Shareholder proposal: AUDIT-RELATED
Brunello Cucinelli SpA23 Apr 2026Shareholder proposal: CORPORATE GOVERNANCE
Brunello Cucinelli SpA23 Apr 2026Shareholder proposal: CORPORATE GOVERNANCE
Brunello Cucinelli SpA23 Apr 2026Fix Board Terms for Directors
Brunello Cucinelli SpA23 Apr 2026Fix Number of Directors
Brunello Cucinelli SpA23 Apr 2026Shareholder proposal: AUDIT-RELATED

Shares on loan

BARON SELECT FUNDS reported 182,460 shares on loan at record dates against 4.81 billion shares voted: 0.00% of the two together. Median fund registrant: 0.00%. Shares lent out at the record date cannot be voted by the lender, which is why Form N-PX asks for the figure. More on lending and votes.

Fund series in this filing

11 series reported votes. A vote record can list several series. Series with 500 or more vote records have their own page.

SeriesVote recordsAgainst managementSay-on-pay supportShareholder-proposal support
Baron International Growth Fund1,24313.4%not reported70.0%
Baron Emerging Markets Fund1,11411.8%not reportednot reported
Baron Health Care Fund4658.2%85.0%14.3%
BARON INDIA FUND4516.9%not reportednot reported
Baron Real Estate Fund4393.4%83.3%42.9%
Baron Real Estate Income Fund3782.9%77.4%not reported
Baron Global Opportunity Fund33718.4%70.6%28.6%
Baron Focused Growth Fund3285.5%90.9%25.0%
Baron Partners Fund2835.3%83.3%25.0%
Baron Technology Fund16413.6%100.0%41.2%
Baron FinTech Fund1129.8%100.0%33.3%

The filings

These figures are read from the filer's own Form N-PX. If a vote on this page looks wrong, the filing is the record: a dispute about a filed vote is a matter for the filer, and an error in how this site read the filing is a matter for corrections.

Questions

How did BARON SELECT FUNDS vote on executive pay?

In the year to 30 June 2026 BARON SELECT FUNDS reported 190 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 160 were for (84.2%), 30 against and 0 abstentions. Counting one item per company meeting, it voted against management on 20 of the 136 say-on-pay items it marked either way.

How often does BARON SELECT FUNDS vote against management?

9.6% of the time in the year to 30 June 2026: 471 of the 4,916 votes it marked as for or against management. Form N-PX asks each filer to state, vote by vote, whether the vote was for or against management's recommendation; this figure counts those marks.

Did BARON SELECT FUNDS support shareholder proposals on climate?

In the category ENVIRONMENT OR CLIMATE it reported 23 votes on proposals from security holders in the year to 30 June 2026 and voted for 0 of them (0.0%). Across every category it voted for 38.7% of security-holder proposals. Filers choose the category for each vote, so the same proposal can sit in different categories in different filings.

Is this the result of the meetings?

No. Form N-PX shows how this filer voted the shares it held. It does not show how other shareholders voted or whether a proposal was approved. Companies report certified results separately, on Form 8-K.

Where does the data come from?

From the Form N-PX filings of this filer on the SEC's EDGAR system, read as filed. The SEC does not verify the contents. Amended filings (N-PX/A) replace the filings they amend. Data on this page runs through 23 Sep 2026.

Provenance: SEC EDGAR, Form N-PX and N-PX/A filings by BARON SELECT FUNDS (filer no. 1217673), read as filed and not verified by the SEC. Amended filings replace the filings they amend. Filings read through 23 Sep 2026; page built 26 Sep 2026.