Baron First Principles ETF had a disappointing start to 2026, with a decline of 8.51% (NAV) compared with a 9.54% loss for the Russell 3000 Growth Index. Baron First Principles ETF increased its positions in many stocks while adding a couple of new names during the quarter. FIGS, Inc. revenue expanded 33% to $201.9 million, reflecting broad-based momentum across categories and geographies and exceeding expectations.
For Baron Capital, identifying a strong company through a “First Principles” analysis goes beyond balance sheets or income statements. In ETFs such as Baron First Principles ETF (RONB), they use leadership as one of their prime metrics to separate long-term, durable companies from temporary market darlings.
In 2026, the financial world is bracing for what could be one of the biggest IPOs to date: Space Exploration Technologies (SpaceX). With a potential valuation of approximately $1.75 trillion and a possible listing date as early as June 2026, pre-IPO demand is increasing.
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| BC Brian Clay Clay Northam Wealth Management LLC | 73,618 | $1.68M | $1.82M | $132,512.4 | 7.87% |
Nathan Edwards IMG Wealth Management, Inc. | 248 | $5,672 | $6,118.16 | $446.16 | 7.87% |
| NYSE Exchange | US Country |