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Baron First Principles ETF

Symbol RONBCUSIP: 06829D107
Symbol RONBCUSIP: 06829D107
A
All-Cap Growth

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$23.40

Daily Change $0.00 (0.01%)
As of 03/13/2026

Market Price

$23.40

Daily Change -$0.02 (-0.09%)
As of 03/13/2026

Net Assets

$70.86 M

As of 12/31/2025

Inception date

12/12/2025

Prices & Performance

PricesAs of 03/13/2026

As of 03/13/2026Daily Change ($)Daily Change (%)MTDQTDYTD
NAV$23.40$0.000.01%-3.74%-6.07%-6.07%
Market Price$23.40-$0.02-0.09%-3.78%-6.43%N/A
NAV
As of 03/13/2026$23.40
Daily Change ($)$0.00
Daily Change (%)0.01%
MTD-3.74%
QTD-6.07%
YTD-6.07%
Market Price
As of 03/13/2026$23.40
Daily Change ($)-$0.02
Daily Change (%)-0.09%
MTD-3.78%
QTD-6.43%
YTDN/A
Download Historical Prices

Trading CharacteristicsAs of 03/13/2026

Baron First Principles ETF
52-week High/Low$25.68/23.21
30 Day Average Trading Volume393,491
Volume (previous close)131,977
Premium / Discount-$0.00
Premium / Discount %-0.01%
30 Day Median Bid-Ask SpreadN/A
52-week High/Low
Baron First Principles ETF$25.68/23.21
30 Day Average Trading Volume
Baron First Principles ETF393,491
Volume (previous close)
Baron First Principles ETF131,977
Premium / Discount
Baron First Principles ETF-$0.00
Premium / Discount %
Baron First Principles ETF-0.01%
30 Day Median Bid-Ask Spread
Baron First Principles ETFN/A

PerformanceAs of 02/28/2026

Portfolio or IndexQTDYTD1 Year3 YearsSince Inception 12/12/2025
NAV-2.42%-2.42%---
Market Price-2.75%-2.75%---
Russell 3000 Growth Index-4.57%-4.57%---
Russell 3000 Index1.07%1.07%---

Premium/DiscountAs of 03/13/2026

Previous Year
2025		Current Year
Q4		Q3Q2Q1
Days at Discount10004
Days at Premium1100045
Days at Discount
Previous Year
2025		1
Current Year
Q4		0
Q30
Q20
Q14
Days at Premium
Previous Year
2025		11
Current Year
Q4		0
Q30
Q20
Q145

Historical Premium/DiscountAs of 03/13/2026

Holdings & Characteristics

HoldingsAs of 03/12/2026

Daily Holdings
Quarterly Holdings
Download Daily Holdings
HoldingTickerWeight (%)Market Value ($)QuantityCUSIPISINSEDOL
TESLA INCTSLA13.91%$46,773,134.10118,41088160R101US88160R1014B616C79
MSCI INCMSCI6.51%$21,900,779.5540,83355354G100US55354G1004B2972D2
SHOPIFY INC CLASS ASHOP5.28%$17,751,614.32140,69682509L107CA82509L1076BXDZ9Z0
SPACE EXPLORATION TECHNOLOGIES CLASS C4.71%$15,852,991.9530,105932LZY906
VERISK ANALYTICS INCVRSK4.56%$15,334,437.5877,62792345Y106US92345Y1064B4P9W92
SCHWAB (CHARLES) CORPSCHW4.48%$15,082,154.48165,302808513105US80851310552779397
HYATT HOTELS CORP CL AH4.47%$15,045,001.56104,814448579102US4485791028B5B82X4
SPOTIFY TECHNOLOGY SASPOT4.36%$14,651,731.6828,752L8681T102LU1778762911BFZ1K46
SPACE EXPLORATION TECHNOLOGIES CLASS A4.21%$14,163,164.6426,896931JQH909
FACTSET RESEARCH SYSTEMS INCFDS4.03%$13,558,131.2066,592303075105US30307510572329770
GUIDEWIRE SOFTWARE INCGWRE3.86%$12,982,564.4382,36140171V100US40171V1008B7JYSG3
RED ROCK RESORTS INC CLASS ARRR3.83%$12,877,120.85223,13575700L108US75700L1089BYY9947
GARTNER INCIT3.41%$11,482,987.9571,505366651107US36665110722372763
VAIL RESORTS INCMTN3.37%$11,325,176.3883,69891879Q109US91879Q10942954194
KINSALE CAPITAL GROUP INCKNSL3.08%$10,361,499.2428,63449714P108US49714P1084BD1MGQ3
INTERACTIVE BROKERS GRO CL AIBKR3.02%$10,144,737.40151,59545841N107US45841N1072B1WT4X2
COSTAR GROUP INCCSGP2.61%$8,778,405.44202,45422160N109US22160N10902262864
CHOICE HOTELS INTL INCCHH2.59%$8,712,962.6190,959169905106US16990510662106780
ARCH CAPITAL GROUP LTDACGL2.24%$7,537,223.1279,996G0450A105BMG0450A10532740542
LIVE NATION ENTERTAINMENT INLYV2.02%$6,794,521.9242,381538034109US5380341090B0T7YX2
ON HOLDING AG CLASS AONON1.92%$6,472,977.16170,521H5919C104CH1134540470BPF0FP9
IDEXX LABORATORIES INCIDXX1.86%$6,257,605.5510,95545168D104US45168D10462459202
HEICO CORP CLASS AHEI.A1.81%$6,098,956.8727,341422806208US42280620832237561
FIGS INC CLASS AFIGS1.78%$6,000,000.00400,00030260D103US30260D1037BMXXBD9
AIRBNB INC CLASS AABNB1.69%$5,671,284.7044,411009066101US0090661010BMGYYH4
TOLL BROTHERS INCTOL1.29%$4,347,215.9431,497889478103US88947810332896092
MORNINGSTAR INCMORN1.23%$4,134,936.0022,850617700109US6177001095B081VR8
BIRKENSTOCK HOLDING PLCBIRK1.02%$3,432,422.2695,002M2029K104JE00BS44BN30BS44BN3
CASH AND FOREIGN CURRENCY0.89%$2,989,003.17
OTHER ASSETS AND LIABILITIES-NET-0.05%($162,232.02)
HoldingSector% of Net Assets
Tesla, Inc.
Consumer Discretionary10.3%
X.AI Holdings Corp. Series E Preferred Stock
Communication Services7.1%
MSCI Inc.
Financials5.5%
Shopify Inc.
Information Technology5.5%
Spotify Technology S.A.
Communication Services5.1%
Guidewire Software, Inc.
Information Technology4.7%
CoStar Group, Inc.
Real Estate4.2%
Interactive Brokers Group, Inc.
Financials4.1%
Hyatt Hotels Corporation
Consumer Discretionary4.0%
FactSet Research Systems Inc.
Financials4.0%
Red Rock Resorts, Inc. - Cl. A
Consumer Discretionary4.0%
Gartner, Inc.
Information Technology3.6%
Verisk Analytics, Inc.
Industrials3.6%
IDEXX Laboratories, Inc.
Health Care3.3%
The Charles Schwab Corporation
Financials3.1%
HEICO Corporation - Class A
Industrials3.1%
Kinsale Capital Group, Inc.
Financials3.0%
Arch Capital Group Ltd.
Financials2.8%
Choice Hotels International, Inc.
Consumer Discretionary2.6%
Live Nation Entertainment, Inc.
Communication Services2.6%
Morningstar, Inc.
Financials2.1%
Airbnb, Inc.
Consumer Discretionary2.1%
On Holding Ag
Consumer Discretionary1.9%
Vail Resorts, Inc.
Consumer Discretionary1.9%
Toll Brothers, Inc.
Consumer Discretionary1.9%
Samsara Inc.
Information Technology1.8%
Birkenstock Holding plc
Consumer Discretionary1.2%

GICS Sector BreakdownAs of 02/28/2026

Sector

Consumer Discretionary

32.3%

Financials

23.7%

Industrials

14.7%

Information Technology

10.5%

Cash & Cash Equivalents

8.0%

Communication Services

6.3%

Real Estate

2.5%

Health Care

2.1%

Sub-Industry

Automobile Manufacturers13.10%
Financial Exchanges & Data11.50%
Aerospace & Defense10.40%
Hotels, Resorts & Cruise Lines8.10%
Investment Banking & Brokerage7.00%
Movies & Entertainment6.30%
Property & Casualty Insurance5.30%
Research & Consulting Services4.30%
Internet Services & Infrastructure4.10%
Application Software3.50%
Leisure Facilities3.30%
Casinos & Gaming3.20%
IT Consulting & Other Services3.00%
Real Estate Services 2.50%
Health Care Equipment2.10%
02468101214
Automobile Manufacturers13.10%
Financial Exchanges & Data11.50%
Aerospace & Defense10.40%
Hotels, Resorts & Cruise Lines8.10%
Investment Banking & Brokerage7.00%
Movies & Entertainment6.30%
Property & Casualty Insurance5.30%
Research & Consulting Services4.30%
Internet Services & Infrastructure4.10%
Application Software3.50%
Leisure Facilities3.30%
Casinos & Gaming3.20%
IT Consulting & Other Services3.00%
Real Estate Services 2.50%
Health Care Equipment2.10%
02468101214

Portfolio CharacteristicsAs of 12/31/2025

DescriptionBaron First Principles ETFRussell 3000 Growth Index
Inception DateDecember 12, 2025
Net Assets$70.86 million
# of Equity Securities / % of Net Assets27/98.9%
As of FYE Current Expense Ratio Date12/5/2025
Management Fee1.00%
Total Expenses1.00%

Documents

Document Name
Summary Prospectus
Prospectus
Statement of Additional Information
Annual Financial Statements and Other Important Information