Baron SMID Cap ETF exits Wynn Resorts stake in third quarter
Baron Capital’s Baron SMID Cap ETF sold its Wynn Resorts holding during the third quarter, according to a letter to investors by portfolio managers Laird Bieger and Randy Gwirtzman. The managers did not explain the sale; the ETF held no gaming stocks after the exit, while Baron’s Baron First Principles ETF retained a 2.27% position in Red Rock Resorts as of 30 September.
The sale changes one fund’s casino exposure, while Baron retains a separate holding in Red Rock Resorts.