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How BCTK ETF Invests Across the AI Value Chain

BY | ETF Database
7:15 am ET 11/03/26 | 3 VIEWS
As leading technology companies expand their AI infrastructure investment plans, investors are looking beyond individual beneficiaries to strategies that provide exposure across the AI value chain. Baron Technology ETF BCTK takes an active approach by investing in technology-related growth companies across sectors, market capitalizations, and geographies.Key Takeaways Baron Technology ETF (BCTK) returned 23.52% on an NAV basis year to date through September 30, 2026 Michael Lippert and Ashim Mehra manage a focused portfolio of 40 holdings (as of September 30, 2026), seeking companies positioned to benefit from durable, technology-driven secular trends within and beyond the IT sector BCTK invests across the AI value chain, including compute infrastructure, semiconductor equipment, memory, networking, power, cloud platforms, systems software, digital media, and physical AI Investing Across the AI Value ChainAI infrastructure, cloud computing, and digital platforms are reshaping the technology opportunity set. Through fundamental research and active stock selection, BCTK seeks companies positioned to benefit from these transformative secular trends. Because the investment landscape is evolving rapidly, the team seeks balanced exposure across physical AI and digital AI. This provides exposure to both the infrastructure powering AI and the companies applying it through physical and digital products and services. Holdings across these areas include NVIDIA, TSMC, Micron, Tesla, and Shopify. Within AI infrastructure, BCTK invests across every critical layer, including processors, memory, semiconductor manufacturing equipment, and connectivity. This breadth expands the portfolio’s potential return drivers and reduces its reliance on any single part of the AI ecosystem. See More: Differentiated Growth: The Baron Risk Optimized Large Cap ETFCloud Platforms Broaden BCTK’s AI ExposureAlphabet (GOOG) and Amazon (AMZN) broaden BCTK’s exposure beyond AI hardware to digital platforms. Together, these holdings provide exposure to enterprise cloud adoption, digital advertising, and data-platform growth and rising demand for AI-enabled services.Digital Media Adds Another Growth DriverSpotify (SPOT) extends the portfolio into digital media, with growth opportunities tied to increased subscriptions, pricing, and margin expansion. Taken together, these holdings illustrate how BCTK invests across the technology economy, combining semiconductor infrastructure, cloud platforms, digital media, and emerging industrial technologies. That breadth reflects BCTK’s broader mandate to pursue technology-driven across sectors, market capitalizations, and geographies. Holdings span communication services, industrials, and consumer discretionary, with SpaceX (SPCX) representing one example of the portfolio’s approach. By investing across AI infrastructure, platforms, and applications, BCTK offers broad exposure to the technology-driven growth opportunities reshaping industries. To learn more about the active ETFs offered by Baron Capital, click here. For more news, information, and analysis, visit the Market Insights Content Hub.

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