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Funds with concentrated positions in a single stock signal high conviction. This is exactly what Baron First Principles ETF (RONB) is communicating to investors with its over 30% allocation to SpaceX (as of August 4, 2026).
SpaceX (SPCX) captured investor attention once again this week as investors digested a series of rapid developments that are fundamentally reshaping the company's valuation story. What began as a pure-play commercial space giant is rapidly evolving into an artificial intelligence powerhouse, driven by the recent rollout of Grok 4.
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.
SpaceX's blockbuster IPO has given way to sharp volatility as valuation concerns, lockup risks and competition evaluate investor confidence.
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.
SpaceX's $60 billion acquisition of AI startup Cursor strengthens its AI ambitions, boosts shares and puts SpaceX-heavy ETFs in focus.
Several ETFs have added exposure to Space Exploration Technologies (SPCX) after the aerospace giant completed the largest initial public offering in market history. Trading on the Nasdaq, SpaceX surged 19% from its initial $135 offering price to close at $160.95 per share, notching a historic $2.1 trillion valuation.
Baron Capital continues to grow its active ETF lineup with today's introduction of Baron Risk Optimized Large Cap ETF™ (BROL). The ETF builds upon the firm's commitment to long-term growth investing with a targeted focus on U.S. large-cap companies that exhibit durable competitive advantages, significant growth opportunities, exceptional management teams, and compelling valuations.
SEC filings for RONB aren't indexed yet — common for recently launched funds. Browse the issuer's filings on SEC EDGAR directly.