Madison Air Solutions was added to the Baron SMID Cap ETF's portfolio. This records the fund's choice, not a change in Madison Air's business.
The disclosure says what the fund chose to own, but reports no change to Madison Air's sales, costs, products, or operations. It adds no new information about how the company is doing.
Spotify was named among the ETF's other new holdings. The report gives no change to Spotify's business.
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