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 |
Grupo Cibest SA
CIB
|
+$6.62M |
| 2 |
Ecopetrol
EC
|
+$4.96M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$4.4M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$4.28M |
| 5 |
Meta Platforms (Facebook)
META
|
+$4.11M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares 20+ Year Treasury Bond ETF
TLT
|
+$60.9M |
| 2 |
iShares 1-3 Year Treasury Bond ETF
SHY
|
+$59.4M |
| 3 |
Vanguard Total Bond Market
BND
|
+$59.4M |
| 4 |
Vanguard Morningstar Total Stock Market ETF
VTI
|
+$43.9M |
| 5 |
iShares Core US Aggregate Bond ETF
AGG
|
+$39.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 37.89% |
| 2 | Financials | 15.3% |
| 3 | Healthcare | 8.93% |
| 4 | Communication Services | 8.92% |
| 5 | Industrials | 7.09% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Teva Pharmaceutical Industries Limited
TEVA
$49.7B
| $9.8M | 4.33% |
150,000
-65,300
| -30% | -$4.04M |
2014 Q2
6 quarters
|
|
2
Apple
AAPL
$4.98T
| $6.25M | 2.75% |
237,580
-148,948
| -39% | -$4.26M |
2013 Q2
10 quarters
|
|
|
3
Grupo Cibest SA
CIB
$21.8B
| $6.02M | 2.65% |
225,000
+210,000
| +1,400% | +$6.62M |
2015 Q3
1 quarter
|
|
|
4
Alphabet (Google) Class A
GOOGL
$3.5T
| $4.63M | 2.04% |
+119,000
| New | +$4.4M |
2015 Q4
0 quarters
|
|
5
Microsoft
MSFT
$3.94T
| $4.55M | 2% |
82,000
-3,791
| -4% | -$199K |
2013 Q2
10 quarters
|
|
|
6
Alphabet (Google) Class C
GOOG
$3.49T
| $4.53M | 1.99% |
+119,320
| New | +$4.28M |
2015 Q4
0 quarters
|
|
|
7
Meta Platforms (Facebook)
META
$1.56T
| $4.48M | 1.97% |
42,765
+39,969
| +1,430% | +$4.11M |
2015 Q3
1 quarter
|
|
8
NetEase
NTES
$82.9B
| $4.44M | 1.95% |
122,500
+92,500
| +308% | +$2.88M |
2015 Q2
2 quarters
|
|
|
9
Ecopetrol
EC
$32B
| $4.03M | 1.77% |
+575,000
| New | +$4.96M |
2015 Q4
0 quarters
|
|
10
Ryanair
RYAAY
$30.7B
| $3.37M | 1.48% |
+97,500
| New | +$3.18M |
2015 Q4
0 quarters
|
|
11
Cisco
CSCO
$370B
| $3.18M | 1.4% |
117,170
+33,568
| +40% | +$926K |
2013 Q2
10 quarters
|
|
|
XL
12
DELISTED
XL Group Ltd.
XL
| $3.13M | 1.38% |
80,000
-40,050
| -33% | -$1.52M |
2015 Q2
2 quarters
|
|
|
ATVI
13
DELISTED
Activision Blizzard
ATVI
| $3.05M | 1.34% |
78,805
+70,817
| +887% | +$2.55M |
2015 Q3
1 quarter
|
|
14
TSMC
TSM
$1.95T
| $2.96M | 1.3% |
130,000
+64,637
| +99% | +$1.45M |
2014 Q4
4 quarters
|
|
|
RSX
15
DELISTED
VanEck Russia ETF
RSX
| $2.93M | 1.29% |
200,000
+179,860
| +893% | +$2.94M |
2015 Q1
3 quarters
|
|
16
NXP Semiconductors
NXPI
$62.6B
| $2.76M | 1.21% |
+32,740
| New | +$2.8M |
2015 Q4
0 quarters
|
|
17
Cognizant
CTSH
$28.9B
| $2.4M | 1.05% |
39,915
+36,205
| +976% | +$2.33M |
2015 Q3
1 quarter
|
|
18
Infosys
INFY
$50.6B
| $2.26M | 0.99% |
270,000
+9,760
| +4% | +$84.6K |
2014 Q1
7 quarters
|
|
19
Euronet Worldwide
EEFT
$2.65B
| $2.24M | 0.99% |
+31,000
| New | +$2.37M |
2015 Q4
0 quarters
|
|
20
Vanguard Morningstar Small-Cap Value ETF
VBR
$36.8B
| $2.21M | 0.97% |
22,400
-2,333
| -9% | -$238K |
2013 Q4
8 quarters
|
|
21
DELISTED
Premier Financial Corp. Common Stock
PFC
| $2.21M | 0.97% |
+117,050
| New | +$2.29M |
2015 Q4
0 quarters
|
|
|
MSFG
22
DELISTED
MainSource Financial Group Inc
MSFG
| $2.12M | 0.93% |
+92,669
| New | +$2.08M |
2015 Q4
0 quarters
|
|
23
United Fire Group
UFCS
$1.23B
| $2.12M | 0.93% |
+55,324
| New | +$2.1M |
2015 Q4
0 quarters
|
|
24
Lam Research
LRCX
$251B
| $1.94M | 0.86% |
+244,900
| New | +$1.84M |
2015 Q4
0 quarters
|
|
25
Insight Enterprises
NSIT
$4.64B
| $1.89M | 0.83% |
+75,300
| New | +$1.98M |
2015 Q4
0 quarters
|
|
Similar funds
Bailard's Q4 2015 Portfolio in Review
As of Q4 2015, Bailard held 405 positions worth $227M, down 64% from $640M the previous quarter. Its ten largest holdings account for 23% of the portfolio.
Bailard withdrew a net $413M in Q4 2015, closing 203 positions and reducing 23 holdings. Its most notable exit was iShares 20+ Year Treasury Bond ETF, an estimated $60.9M position sold in full.
By sector, the portfolio is most concentrated in Technology at 38% of assets, up from 6.4% a quarter earlier, followed by Financials and Healthcare.
Against the trend, Bailard opened a new position in Ecopetrol worth $4.03M.
- Bailard's largest Q4 2015 buy was Ecopetrol: 575,000 shares worth $4.03M.
- Bailard added most to Grupo Cibest SA in Q4 2015, an estimated $6.62M increase.
- Bailard's biggest Q4 2015 reduction was Apple, cutting an estimated $4.26M.
- Bailard fully exited iShares 20+ Year Treasury Bond ETF in Q4 2015, selling an estimated $60.9M.
- Bailard's ten largest holdings make up 23% of its $227M portfolio in Q4 2015.
- Bailard opened 159 new positions and closed 203 in Q4 2015.
- Bailard's portfolio value fell 64% quarter-over-quarter to $227M.
Based on Bailard's 13F filing for Q4 2015, filed 10 Feb 2016.