Bailard Portfolio holdings
Bailard is an independent wealth and asset manager, started in 1969 by three alumni of the Stanford Graduate School of Business. In 1979 it brought out one of the earliest US mutual funds that invests in foreign stocks, and in 1990 it began serving pension funds, endowments and foundations and introduced a commercial real estate fund. Its equity portfolios mix model-based research, company analysis and judgment, and for clients who want their investments to reflect social and environmental values it builds sustainable and impact portfolios. It was formerly called Bailard, Biehl & Kaiser, and is a wholly owned subsidiary of the privately owned BB&K Holdings; Sonya Mughal became chief executive in 2021 after 27 years at the firm.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Invesco DB Commodity Index Tracking Fund
DBC
|
+$48M |
| 2 |
Vanguard Morningstar Total Stock Market ETF
VTI
|
+$37.2M |
| 3 |
Vanguard Consumer Staples ETF
VDC
|
+$5.33M |
| 4 |
Vanguard Information Technology ETF
VGT
|
+$4.68M |
| 5 |
Vanguard Consumer Discretionary ETF
VCR
|
+$4.57M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$50.7M |
| 2 |
iShares MSCI EAFE ETF
EFA
|
+$49.7M |
| 3 |
SPDR Gold Trust
GLD
|
+$3.06M |
| 4 |
Kimberly-Clark
KMB
|
+$2.84M |
| 5 |
DISH
DISH Network Corp.
DISH
|
+$2.61M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 68.45% |
| 2 | Technology | 6.31% |
| 3 | Healthcare | 4.74% |
| 4 | Industrials | 4.11% |
| 5 | Real Estate | 3.61% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Invesco QQQ Trust
QQQ
$469B
| $60.9M | 11.57% |
772,447
+36,981
| +5% | +$2.82M |
2013 Q2
1 quarter
|
|
2
iShares Russell 2000 Value ETF
IWN
$14.1B
| $57.1M | 10.84% |
622,981
+21,950
| +4% | +$1.98M |
2013 Q2
1 quarter
|
|
|
3
Invesco DB Commodity Index Tracking Fund
DBC
$1.84B
| $47.3M | 8.99% |
+1,837,601
| New | +$48M |
2013 Q3
0 quarters
|
|
|
4
Vanguard Morningstar Total Stock Market ETF
VTI
$694B
| $38.9M | 7.38% |
443,435
+428,461
| +2,861% | +$37.2M |
2013 Q2
1 quarter
|
|
5
iShares Core US Aggregate Bond ETF
AGG
$138B
| $32M | 6.08% |
298,824
+20,581
| +7% | +$2.19M |
2013 Q2
1 quarter
|
|
|
6
State Street SPDR S&P 500 ETF Trust
SPY
$805B
| $15.7M | 2.98% |
93,487
-302,561
| -76% | -$50.7M |
2013 Q2
1 quarter
|
|
7
State Street SPDR Nuveen ICE Short Term Municipal Bond ETF
SHM
$3.51B
| $15.4M | 2.93% |
318,153
+29,246
| +10% | +$1.41M |
2013 Q2
1 quarter
|
|
8
iShares National Muni Bond ETF
MUB
$55B
| $14.6M | 2.77% |
139,483
+1,111
| +0.8% | +$115K |
2013 Q2
1 quarter
|
|
9
State Street Financial Select Sector SPDR ETF
XLF
$55.2B
| $6.8M | 1.29% |
389,106
+12,302
| +3% | +$218K |
2013 Q2
1 quarter
|
|
10
iShares S&P Small-Cap 600 Value ETF
IJS
$7.76B
| $5.35M | 1.02% |
104,608
+1,500
| +1% | +$74.6K |
2013 Q2
1 quarter
|
|
11
IBM
IBM
$231B
| $5.28M | 1% |
29,796
-7,988
| -21% | -$1.45M |
2013 Q2
1 quarter
|
|
|
12
Vanguard Consumer Staples ETF
VDC
$8.25B
| $5.25M | 1% |
+50,670
| New | +$5.33M |
2013 Q3
0 quarters
|
|
|
13
Vanguard Information Technology ETF
VGT
$142B
| $4.8M | 0.91% |
+475,800
| New | +$4.68M |
2013 Q3
0 quarters
|
|
|
14
Vanguard Consumer Discretionary ETF
VCR
$6.19B
| $4.71M | 0.89% |
+47,640
| New | +$4.57M |
2013 Q3
0 quarters
|
|
15
Chevron
CVX
$415B
| $4.64M | 0.88% |
38,147
-14,453
| -27% | -$1.78M |
2013 Q2
1 quarter
|
|
16
Apple
AAPL
$5.15T
| $4.54M | 0.86% |
266,560
-123,620
| -32% | -$2.05M |
2013 Q2
1 quarter
|
|
17
ExxonMobil
XOM
$677B
| $4.38M | 0.83% |
50,914
-17,628
| -26% | -$1.59M |
2013 Q2
1 quarter
|
|
18
Vanguard Health Care ETF
VHT
$21.1B
| $4.3M | 0.82% |
+46,115
| New | +$4.23M |
2013 Q3
0 quarters
|
|
19
Microsoft
MSFT
$3.87T
| $4.28M | 0.81% |
128,517
-62,888
| -33% | -$2.07M |
2013 Q2
1 quarter
|
|
|
20
iShares MSCI EAFE ETF
EFA
$77.5B
| $4.27M | 0.81% |
66,967
-810,394
| -92% | -$49.7M |
2013 Q2
1 quarter
|
|
21
Vanguard Industrials ETF
VIS
$7.86B
| $4.19M | 0.8% |
+46,840
| New | +$4.06M |
2013 Q3
0 quarters
|
|
22
Johnson & Johnson
JNJ
$669B
| $3.93M | 0.75% |
45,285
-16,700
| -27% | -$1.5M |
2013 Q2
1 quarter
|
|
|
BT
23
DELISTED
BT Group plc (ADR)
BT
| $3.26M | 0.62% |
117,970
-11,976
| -9% | -$312K |
2013 Q2
1 quarter
|
|
24
Vanguard Energy ETF
VDE
$10.6B
| $3.11M | 0.59% |
+26,030
| New | +$3.07M |
2013 Q3
0 quarters
|
|
25
Enanta Pharmaceuticals
ENTA
$336M
| $2.99M | 0.57% |
+130,466
| New | +$2.49M |
2013 Q3
0 quarters
|
|
Similar funds
Bailard's Q3 2013 Portfolio in Review
As of Q3 2013, Bailard held 241 positions worth $527M, down 4.2% from $550M the previous quarter. Its ten largest holdings account for 56% of the portfolio.
Bailard withdrew a net $51M in Q3 2013, closing 27 positions and reducing 100 holdings. Its most notable exit was Ligand Pharmaceuticals, an estimated $2.43M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 68% of assets, up from 57% a quarter earlier, followed by Technology and Healthcare.
Against the trend, Bailard opened a new position in Invesco DB Commodity Index Tracking Fund worth $47.3M.
- Bailard's largest Q3 2013 buy was Invesco DB Commodity Index Tracking Fund: 1,837,601 shares worth $47.3M.
- Bailard added most to Vanguard Morningstar Total Stock Market ETF in Q3 2013, an estimated $37.2M increase.
- Bailard's biggest Q3 2013 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $50.7M.
- Bailard fully exited Ligand Pharmaceuticals in Q3 2013, selling an estimated $2.43M.
- Bailard's ten largest holdings make up 56% of its $527M portfolio in Q3 2013.
- Bailard opened 56 new positions and closed 27 in Q3 2013.
- Bailard's portfolio value fell 4.2% quarter-over-quarter to $527M.
Based on Bailard's 13F filing for Q3 2013, filed 28 Oct 2013.