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Baron First Principles ETF

Symbol RONBCUSIP: 06829D107
A
All-Cap Growth

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$24.01

Daily Change $0.21 (0.88%)
As of 02/10/2026

Market Price

$24.01

Daily Change $0.19 (0.80%)
As of 02/10/2026

Net Assets

$70.86 M

As of 12/31/2025

Inception date

12/12/2025

Prices & Performance

PricesAs of 02/10/2026

As of 02/10/2026Daily Change ($)Daily Change (%)MTDQTDYTD
NAV$24.01$0.210.88%-0.51%-3.64%-3.64%
Market Price$24.01$0.190.80%-0.74%-3.99%N/A
NAV
As of 02/10/2026$24.01
Daily Change ($)$0.21
Daily Change (%)0.88%
MTD-0.51%
QTD-3.64%
YTD-3.64%
Market Price
As of 02/10/2026$24.01
Daily Change ($)$0.19
Daily Change (%)0.80%
MTD-0.74%
QTD-3.99%
YTDN/A
Download Historical Prices

Trading CharacteristicsAs of 02/10/2026

Baron First Principles ETF
52-week High/Low$25.68/23.44
30 Day Average Trading Volume255,734
Volume (previous close)232,313
Premium / Discount$0.00
Premium / Discount %0.01%
30 Day Median Bid-Ask Spread0.12%
52-week High/Low
Baron First Principles ETF$25.68/23.44
30 Day Average Trading Volume
Baron First Principles ETF255,734
Volume (previous close)
Baron First Principles ETF232,313
Premium / Discount
Baron First Principles ETF$0.00
Premium / Discount %
Baron First Principles ETF0.01%
30 Day Median Bid-Ask Spread
Baron First Principles ETF0.12%

PerformanceAs of 01/31/2026

Portfolio or IndexQTDYTD1 Year3 YearsSince Inception 12/12/2025
NAV-3.14%-3.14%---
Market Price-3.27%-3.27%---
Russell 3000 Growth Index-1.27%-1.27%---
Russell 3000 Index1.55%1.55%---

Premium/DiscountAs of 02/10/2026

Previous Year
2025		Current Year
Q4		Q3Q2Q1
Days at Discount10001
Days at Premium1100026
Days at Discount
Previous Year
2025		1
Current Year
Q4		0
Q30
Q20
Q11
Days at Premium
Previous Year
2025		11
Current Year
Q4		0
Q30
Q20
Q126

Historical Premium/DiscountAs of 02/10/2026

Holdings & Characteristics

HoldingsAs of 02/09/2026

Daily Holdings
Quarterly Holdings
Download Daily Holdings
HoldingTickerWeight (%)Market Value ($)QuantityCUSIPISINSEDOL
TESLA INCTSLA13.47%$23,085,725.0855,31988160R101US88160R1014B616C79
SPACE EXPLORATION TECHNOLOGIES CLASS C9.25%$15,852,991.9530,105932LZY906
SPACE EXPLORATION TECHNOLOGIES CLASS A8.26%$14,163,164.6426,896931JQH909
MSCI INCMSCI5.55%$9,511,308.1717,00355354G100US55354G1004B2972D2
VERISK ANALYTICS INCVRSK3.60%$6,167,858.4034,61292345Y106US92345Y1064B4P9W92
INTERACTIVE BROKERS GRO CL AIBKR3.59%$6,161,851.5078,57545841N107US45841N1072B1WT4X2
VAIL RESORTS INCMTN3.57%$6,123,337.9243,39191879Q109US91879Q10942954194
SPOTIFY TECHNOLOGY SASPOT3.56%$6,101,051.8814,707L8681T102LU1778762911BFZ1K46
COSTAR GROUP INCCSGP3.37%$5,777,691.92113,37722160N109US22160N10902262864
SHOPIFY INC CLASS ASHOP3.33%$5,701,315.2048,15382509L107CA82509L1076BXDZ9Z0
KINSALE CAPITAL GROUP INCKNSL3.29%$5,647,960.3814,46649714P108US49714P1084BD1MGQ3
HYATT HOTELS CORP CL AH3.21%$5,502,605.7334,471448579102US4485791028B5B82X4
FACTSET RESEARCH SYSTEMS INCFDS3.20%$5,481,859.5026,975303075105US30307510572329770
SCHWAB (CHARLES) CORPSCHW2.97%$5,083,469.3647,416808513105US80851310552779397
RED ROCK RESORTS INC CLASS ARRR2.91%$4,980,332.2476,02475700L108US75700L1089BYY9947
CHOICE HOTELS INTL INCCHH2.78%$4,766,105.7544,233169905106US16990510662106780
GUIDEWIRE SOFTWARE INCGWRE2.54%$4,346,641.6034,55240171V100US40171V1008B7JYSG3
HEICO CORP CLASS AHEI.A2.07%$3,552,620.3814,317422806208US42280620832237561
IDEXX LABORATORIES INCIDXX2.06%$3,523,323.535,50745168D104US45168D10462459202
LIVE NATION ENTERTAINMENT INLYV1.89%$3,246,772.4121,951538034109US5380341090B0T7YX2
GARTNER INCIT1.87%$3,210,815.2520,099366651107US36665110722372763
ARCH CAPITAL GROUP LTDACGL1.86%$3,196,012.2633,271G0450A105BMG0450A10532740542
TOLL BROTHERS INCTOL1.46%$2,501,631.8016,430889478103US88947810332896092
ON HOLDING AG CLASS AONON1.33%$2,278,809.9651,394H5919C104CH1134540470BPF0FP9
AIRBNB INC CLASS AABNB1.24%$2,131,052.7717,567009066101US0090661010BMGYYH4
MORNINGSTAR INCMORN1.14%$1,955,560.2011,946617700109US6177001095B081VR8
CASH AND FOREIGN CURRENCY6.66%$11,421,461.85
OTHER ASSETS AND LIABILITIES-NET-0.02%($36,544.58)
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 01/31/2026

Sector

Consumer Discretionary

29.9%

Financials

21.5%

Industrials

19.5%

Communication Services

9.8%

Information Technology

9.3%

Real Estate

4.2%

Cash & Cash Equivalents

3.5%

Health Care

2.3%

Sub-Industry

Aerospace & Defense16.00%
Automobile Manufacturers13.40%
Financial Exchanges & Data9.60%
Hotels, Resorts & Cruise Lines7.40%
Investment Banking & Brokerage6.50%
Movies & Entertainment6.30%
Property & Casualty Insurance5.40%
Real Estate Services 4.20%
Internet Services & Infrastructure3.80%
Interactive Media & Services3.50%
Leisure Facilities3.50%
Research & Consulting Services3.50%
Casinos & Gaming2.90%
Application Software2.90%
IT Consulting & Other Services2.50%
0369121518
Aerospace & Defense16.00%
Automobile Manufacturers13.40%
Financial Exchanges & Data9.60%
Hotels, Resorts & Cruise Lines7.40%
Investment Banking & Brokerage6.50%
Movies & Entertainment6.30%
Property & Casualty Insurance5.40%
Real Estate Services 4.20%
Internet Services & Infrastructure3.80%
Interactive Media & Services3.50%
Leisure Facilities3.50%
Research & Consulting Services3.50%
Casinos & Gaming2.90%
Application Software2.90%
IT Consulting & Other Services2.50%
0369121518

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%
Estimated Ratio of Total Expenses1.00%

Documents

Document Name
Summary Prospectus
Prospectus
Statement of Additional Information