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 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$57M |
| 2 |
iShares MSCI EAFE ETF
EFA
|
+$55.3M |
| 3 |
State Street SPDR Nuveen ICE Short Term Municipal Bond ETF
SHM
|
+$16M |
| 4 |
State Street SPDR Nuveen ICE Municipal Bond ETF
TFI
|
+$6.44M |
| 5 |
iShares 1-5 Year Investment Grade Corporate Bond ETF
IGSB
|
+$4.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Invesco DB Commodity Index Tracking Fund
DBC
|
+$47.3M |
| 2 |
iShares National Muni Bond ETF
MUB
|
+$14.3M |
| 3 |
iShares Core US Aggregate Bond ETF
AGG
|
+$5.11M |
| 4 |
iShares Russell 2000 Value ETF
IWN
|
+$4.29M |
| 5 |
Sprott Physical Gold
PHYS
|
+$2.99M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 73.75% |
| 2 | Technology | 5.68% |
| 3 | Industrials | 4.16% |
| 4 | Healthcare | 3.92% |
| 5 | Financials | 2.51% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
State Street SPDR S&P 500 ETF Trust
SPY
$800B
| $76M | 12.25% |
415,333
+321,846
| +344% | +$57M |
2013 Q2
2 quarters
|
|
2
Invesco QQQ Trust
QQQ
$461B
| $67.7M | 10.92% |
777,678
+5,231
| +0.7% | +$436K |
2013 Q2
2 quarters
|
|
|
3
iShares MSCI EAFE ETF
EFA
$77.3B
| $60.6M | 9.76% |
912,963
+845,996
| +1,263% | +$55.3M |
2013 Q2
2 quarters
|
|
|
4
iShares Russell 2000 Value ETF
IWN
$14B
| $56.7M | 9.15% |
578,035
-44,946
| -7% | -$4.29M |
2013 Q2
2 quarters
|
|
5
Vanguard Morningstar Total Stock Market ETF
VTI
$689B
| $43.5M | 7.01% |
459,723
+16,288
| +4% | +$1.5M |
2013 Q2
2 quarters
|
|
|
6
iShares Core US Aggregate Bond ETF
AGG
$137B
| $26.5M | 4.27% |
251,129
-47,695
| -16% | -$5.11M |
2013 Q2
2 quarters
|
|
|
7
State Street SPDR Nuveen ICE Short Term Municipal Bond ETF
SHM
$3.5B
| $26.4M | 4.26% |
648,214
+330,061
| +104% | +$16M |
2013 Q2
2 quarters
|
|
8
State Street Financial Select Sector SPDR ETF
XLF
$55.6B
| $7.55M | 1.22% |
393,463
+4,357
| +1% | +$80.1K |
2013 Q2
2 quarters
|
|
9
iShares S&P Small-Cap 600 Value ETF
IJS
$7.7B
| $7.4M | 1.19% |
133,058
+28,450
| +27% | +$1.52M |
2013 Q2
2 quarters
|
|
|
10
State Street SPDR Nuveen ICE Municipal Bond ETF
TFI
$2.93B
| $6.24M | 1.01% |
+141,117
| New | +$6.44M |
2013 Q4
0 quarters
|
|
11
Vanguard Information Technology ETF
VGT
$138B
| $5.73M | 0.92% |
511,600
+35,800
| +8% | +$379K |
2013 Q3
1 quarter
|
|
12
Vanguard Consumer Discretionary ETF
VCR
$6.16B
| $5.65M | 0.91% |
52,275
+4,635
| +10% | +$479K |
2013 Q3
1 quarter
|
|
13
Vanguard Consumer Staples ETF
VDC
$8.41B
| $5.65M | 0.91% |
51,320
+650
| +1% | +$71.1K |
2013 Q3
1 quarter
|
|
|
14
iShares 1-5 Year Investment Grade Corporate Bond ETF
IGSB
$23.6B
| $5.33M | 0.86% |
103,662
+79,692
| +332% | +$4.2M |
2013 Q2
2 quarters
|
|
15
Apple
AAPL
$5.18T
| $5.31M | 0.86% |
265,188
-1,372
| -0.5% | -$25.9K |
2013 Q2
2 quarters
|
|
16
Vanguard Health Care ETF
VHT
$21.1B
| $5.28M | 0.85% |
52,220
+6,105
| +13% | +$598K |
2013 Q3
1 quarter
|
|
17
Vanguard Industrials ETF
VIS
$7.77B
| $4.97M | 0.8% |
49,705
+2,865
| +6% | +$271K |
2013 Q3
1 quarter
|
|
|
XNPT
18
DELISTED
XENOPORT, INC.
XNPT
| $4.92M | 0.79% |
197,000
| – | – |
2013 Q2
2 quarters
|
|
19
IBM
IBM
$234B
| $4.78M | 0.77% |
26,645
-3,151
| -11% | -$543K |
2013 Q2
2 quarters
|
|
20
ExxonMobil
XOM
$696B
| $4.73M | 0.76% |
46,746
-4,168
| -8% | -$385K |
2013 Q2
2 quarters
|
|
21
Microsoft
MSFT
$3.89T
| $4.4M | 0.71% |
117,515
-11,002
| -9% | -$400K |
2013 Q2
2 quarters
|
|
22
iShares California Muni Bond ETF
CMF
$5.41B
| $4.25M | 0.68% |
79,624
+25,274
| +47% | +$1.39M |
2013 Q2
2 quarters
|
|
23
Chevron
CVX
$429B
| $4.22M | 0.68% |
33,782
-4,365
| -11% | -$528K |
2013 Q2
2 quarters
|
|
|
BT
24
DELISTED
BT Group plc (ADR)
BT
| $3.66M | 0.59% |
116,006
-1,964
| -2% | -$58.6K |
2013 Q2
2 quarters
|
|
25
SPDR Gold Trust
GLD
$130B
| $3.64M | 0.59% |
31,358
+19,340
| +161% | +$2.37M |
2013 Q2
2 quarters
|
|
Similar funds
Bailard's Q4 2013 Portfolio in Review
As of Q4 2013, Bailard held 266 positions worth $620M, up 18% from $527M the previous quarter. Its ten largest holdings account for 61% of the portfolio.
Bailard deployed $58M of net new capital in Q4 2013, opening 52 new positions and adding to 52 existing holdings. Its largest new stake was State Street SPDR Nuveen ICE Municipal Bond ETF: 141,117 shares worth $6.24M.
By sector, the portfolio is most concentrated in Miscellaneous at 74% of assets, up from 68% a quarter earlier, followed by Technology and Industrials.
On the sell side, the largest reduction was iShares National Muni Bond ETF, an estimated $14.3M trimmed.
- Bailard's largest Q4 2013 buy was State Street SPDR Nuveen ICE Municipal Bond ETF: 141,117 shares worth $6.24M.
- Bailard added most to State Street SPDR S&P 500 ETF Trust in Q4 2013, an estimated $57M increase.
- Bailard's biggest Q4 2013 reduction was iShares National Muni Bond ETF, cutting an estimated $14.3M.
- Bailard fully exited Invesco DB Commodity Index Tracking Fund in Q4 2013, selling an estimated $47.3M.
- Bailard's ten largest holdings make up 61% of its $620M portfolio in Q4 2013.
- Bailard opened 52 new positions and closed 42 in Q4 2013.
- Bailard's portfolio value rose 18% quarter-over-quarter to $620M.
Based on Bailard's 13F filing for Q4 2013, filed 28 Jan 2014.