Tesla(US:TSLA) 彭博Bloomberg·2026-03-03 06:07Core Viewpoint - The article discusses the significant investment in SpaceX by the Baron First Principles ETF (RONB), which has increased its allocation to SpaceX to 22%, marking the highest weight of private equity in an ETF. This ETF is positioned to become a leading player in the actively managed ETF space, providing substantial exposure to innovative companies under Elon Musk, including xAI and Tesla [1][4]. Group 1: RONB's Investment Strategy - RONB has notably increased its stake in SpaceX, achieving a 22% weight in its portfolio, which is unprecedented for any ETF regarding this company [4]. - The ETF also holds a 5.5% stake in xAI, making it the largest ETF with direct exposure to private equity, unlike others that use special purpose vehicles (SPVs) [4][6]. - The demand for ETFs with private equity exposure is evident, as shown by the recent influx of $1.1 billion into XOVR, which has a smaller allocation to SpaceX [4][6]. Group 2: Market Trends and Performance - XOVR's success highlights the strong investor interest in private equity within ETFs, with its assets surpassing $1 billion, making it one of the top ETFs in terms of inflows and trading volume [6]. - The valuation of xAI has reached $230 billion, nearly doubling in less than a year, with projected revenues of $500 million in 2025, reflecting a 400% year-over-year growth [10]. - RONB's asset size has approached $100 million within a month of its launch, indicating a growing trend of ETFs incorporating private equity, particularly in sectors like AI and healthcare [7][10].