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Baron First Principles ETF keeps SpaceX near a 19% stake

SpaceX makes up just under 19% of the Baron First Principles ETF portfolio as of June 12, 2026, according to ETF Trends.

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ETF Trends reports that SpaceX continues to be a prominent holding in the Baron First Principles ETF, even after the company began trading on the Nasdaq.

The outlet said the position is just under a 19% allocation as of June 12, 2026, describing the holding as part of the fund’s active, high conviction approach focused on founder led companies.

ETF Trends added that the fund’s managers aim to maintain exposure to long term growth opportunities, citing active selection advantages versus passive, index tracking vehicles that are constrained by market cap weighting and listing mechanics.

The article also notes that Baron First Principles ETF holds Tesla as well, and it frames the SpaceX thesis around the company’s evolution and multiple business lines, including Starlink and xAI, as potential future revenue drivers.

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