Baron SMID Cap ETF Q2 2026 Report

Baron Capital released its second-quarter 2026 investor letter for its Baron SMID Cap ETF, gaining 15.62% NAV while underperforming the Russell 2500 Growth Index's 24.02% return.

Insulet Corporation Exit

Baron SMID Cap ETF sold its holdings in Insulet Corporation (NASDAQ:PODD), an American medical device company known for its Omnipod insulin delivery system.

Insulet Stock Performance

Insulet Corporation closed at $140.60 per share on September 16, 2026, down 4.27% over the past month and 57.84% over the past 52 weeks.

Insulet Market Position

Insulet Corporation has a market capitalization of $9.75 billion with shares trading between $126.40 and $354.88 over the past 52 weeks.

Insulet's Business

Insulet Corporation is the global leader in tubeless automated insulin delivery devices with over 600,000 active customers and $2.7 billion in 2025 revenues.

Baron's Reason for Exit

Baron SMID Cap ETF sold its position to reevaluate accelerating competitive landscape and safety issues affecting Insulet's AID production.

“Insulet Corporation (NASDAQ:PODD) is the global leader in tubeless automated insulin delivery (AID) devices. It has over 600,000 active global customers using its AID devices and had $2.7 billion in revenues in 2025 which is a fraction of the $19 billion worldwide type 1 diabetes market it predicts in 2028, and the additional $12 billion type 2 market in 2028. We sold our position in the quarter to re evaluate the accelerating competitive landscape and to assess a series of safety issues that have affected Insulet's AID production. We admire the company and its products and are keeping Insulet on our radar.”