Baron Capital has launched five new actively managed ETFs and revealed that its investment in SpaceX now stands at approximately $10 billion, surpassing its stake in Tesla to become the firm's largest position.
- Baron Capital launched five active ETFs in December 2025.
- SpaceX is now the firm’s largest investment with $10 billion allocated.
- The $10 billion stake in SpaceX surpasses the firm’s investment in Tesla.
- The ETFs target disruptive technologies including space infrastructure and AI.
- Baron Capital manages approximately $28 billion in assets under management.
- The firm’s strategy emphasizes active management and long-term conviction in high-growth private companies.
Baron Capital has officially launched five new actively managed exchange-traded funds, marking a strategic expansion into the ETF space with a focus on innovation-driven growth sectors. The firm disclosed that its investment in SpaceX has reached roughly $10 billion, making it the single largest holding across its portfolio. This milestone signifies a shift in the firm’s strategic priorities, as SpaceX now exceeds its previously largest position in Tesla in both valuation and portfolio weight. The $10 billion allocation to SpaceX reflects Baron Capital’s confidence in the aerospace and satellite communications industry, particularly as the company continues advancing its Starlink broadband network and Starship launch vehicle program. The firm’s move underscores a growing appetite for high-growth, technology-centric private companies with scalable business models and international reach. The ETFs launched are designed to capture exposure to disruptive technologies, including space infrastructure, artificial intelligence, and next-generation computing. This development comes amid a broader trend of institutional investors increasing allocations to private technology ventures through public vehicle structures. The launch of these ETFs allows retail and institutional investors alike to gain indirect exposure to high-conviction private assets, with Baron Capital managing approximately $28 billion in assets under management across its suite of funds. The firm’s active management approach is central to its strategy, emphasizing deep research and long-term conviction in core holdings. Investors in the new ETFs are now positioned to benefit from the growth potential of entities like SpaceX, while also gaining diversification across sectors such as clean energy, healthcare innovation, and digital infrastructure. Market analysts note the move could signal a deeper institutional endorsement of private tech ventures as viable long-term investments.