BARON ETF TR

Ticker: BCFN CUSIP: 06829D404 Class: FINANCIALS ETF

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

New Positions (12)

Biltmore Family Office, LLC

Value ($000) $13,696 Shares 550,113

Sterling Investment Counsel, LLC

Value ($000) $763 Shares 30,666

Value ($000) $558 Shares 22,429

Value ($000) $22 Shares 873

SUSQUEHANNA INTERNATIONAL GROUP, LLP

Value ($000) $615 Shares 24,719

OSAIC HOLDINGS, INC.

Value ($000) $404 Shares 16,240

COMMONWEALTH EQUITY SERVICES, LLC

Value ($000) $285 Shares 11,456

LPL Financial LLC

Value ($000) $406 Shares 16,300

JANE STREET GROUP, LLC

Value ($000) $357 Shares 14,357

Value ($000) $93 Shares 3,749

Larson Financial Group LLC

Value ($000) $23 Shares 909

ROYAL BANK OF CANADA

Value ($000) $28 Shares 1,123

Institution	Shares	Value ($000)
Biltmore Family Office, LLC	550,113	$13,696
Sterling Investment Counsel, LLC	30,666	$763
Bank OZK	22,429	$558
Navalign, LLC	873	$22
SUSQUEHANNA INTERNATIONAL GROUP, LLP	24,719	$615
OSAIC HOLDINGS, INC.	16,240	$404
COMMONWEALTH EQUITY SERVICES, LLC	11,456	$285
LPL Financial LLC	16,300	$406
JANE STREET GROUP, LLC	14,357	$357
MORGAN STANLEY	3,749	$93
Larson Financial Group LLC	909	$23
ROYAL BANK OF CANADA	1,123	$28