Baron ETF Trust - Baron First Principles ETF
RONB
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ROIC.AI
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- Baron ETF Trust – Baron First Principles ETF is an actively managed, non-diversified exchange-traded fund that seeks long-term capital appreciation through investments primarily in equity securities, including depositary receipts, of U.S. growth companies across all market capitalizations. Trading on the New York Stock Exchange under the ticker RONB, the Fund applies a first-principles, fundamental-research investment process designed to identify businesses with durable competitive advantages, scalable growth prospects, innovative products or services, recurring revenue characteristics, pricing power and management teams viewed as capable capital allocators. The Fund offers investors publicly traded exposure to a concentrated, all-cap growth equity portfolio, with investments spanning consumer discretionary, financial services, technology, communication services, health care and industrial-related businesses; it may also invest in non-U.S. issuers and may borrow up to one-third of total assets when opportunities warrant. Portfolio holdings have included Space Exploration Technologies Corp., Tesla Inc., FIGS Inc., MSCI Inc., The Charles Schwab Corp., Interactive Brokers Group Inc., Shopify Inc., Hyatt Hotels Corp., Spotify Technology SA and FactSet Research Systems Inc. Baron First Principles ETF is managed by Ron Baron, Michael Baron and David Baron and is sponsored by Baron Capital, a New York-based growth-equity investment manager. The Fund was launched and began trading in December 2025 as part of Baron Capital’s strategic expansion into actively managed ETFs, alongside the Baron Global Durable Advantage ETF, Baron SMID Cap ETF, Baron Financials ETF and Baron Technology ETF; the launch extended Baron Capital’s fundamental, long-term growth-investing strategies into a liquid, exchange-traded vehicle for individual and institutional investors.