Baron First Principles ETF (RONB)
NYSE NYSE Primary 
SpaceX Occupies Top, High-Conviction Holding in RONB ETF
The aerospace sector has evolved from a speculative frontier into a foundational pillar of modern global infrastructure. At the forefront of this technological shift is SpaceX, which has redefined the economics of space travel.
From IPO to Core Holding: Why SpaceX Remains a RONB Cornerstone
Prior to the debut of SpaceX on the Nasdaq, one of the few ways to get exposure to this highly anticipated IPO was through Baron First Principles ETF (RONB) via publicly traded, transparent, liquid ETF shares. Just because it's now public doesn't mean the exposure stops.
Baron First Principles ETF Q1 2026 Commentary
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.
Leadership as an Investment Metric With Baron Capital
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.
Get Ahead of the SpaceX IPO With RONB ETF
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.
ETF Prime: Baron Capital Brings Growth Focus to Active ETFs
Nate Geraci explored active ETFs and sector investing on this week's ETF Prime, featuring Baron Capital's Matt Camuso and VanEck's Michael Cohick. Camuso, head of ETF solutions at Baron Capital, discussed the firm's recent entry into the ETF space.
RONB: With The SpaceX-xAI Merger, Musk Aims For The Stars But May Land In The Sun
Baron First Principles ETF is rated a Sell due to high expenses, underwhelming portfolio, and insufficient SpaceX exposure. The SpaceX-xAI merger, valuing SpaceX at $1T and xAI at $250B, introduces conflict-of-interest risks and diminishes SpaceX's standalone appeal. Orbital AI data centers, a key merger rationale, face prohibitive costs and technical barriers, making near-term feasibility highly questionable.
This Impressive ETF Has a Huge Stake in SpaceX
Perhaps 2026 is shaping up to be one of the biggest IPO years in a while, with Elon Musk's SpaceX reportedly poised to merge with AI firm xAI.
