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 |
PIMCO Enhanced Short Maturity Active Exchange-Traded Fund
MINT
|
+$56.8M |
| 2 |
iShares 0-1 Year Treasury Bond ETF
SHV
|
+$56.7M |
| 3 |
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
|
+$37.1M |
| 4 |
iShares Gold Trust
IAU
|
+$28M |
| 5 |
iShares Core MSCI EAFE ETF
IEFA
|
+$23.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Invesco QQQ Trust
QQQ
|
+$55M |
| 2 |
iShares Russell 2000 Value ETF
IWN
|
+$53.1M |
| 3 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$36.1M |
| 4 |
SPDR Gold Trust
GLD
|
+$34.3M |
| 5 |
State Street SPDR Nuveen ICE Short Term Municipal Bond ETF
SHM
|
+$5.59M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 55.39% |
| 2 | Technology | 13.74% |
| 3 | Healthcare | 6.48% |
| 4 | Communication Services | 5.24% |
| 5 | Financials | 5% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Vanguard Morningstar Total Stock Market ETF
VTI
$688B
| $63.6M | 4.3% |
498,593
+16,690
| +3% | +$2.3M |
2016 Q1
11 quarters
|
|
|
2
PIMCO Enhanced Short Maturity Active Exchange-Traded Fund
MINT
$18.3B
| $56.9M | 3.84% |
563,216
+560,851
| +23,715% | +$56.8M |
2018 Q2
2 quarters
|
|
|
3
iShares 0-1 Year Treasury Bond ETF
SHV
$21.3B
| $56.7M | 3.83% |
+513,630
| New | +$56.7M |
2018 Q4
0 quarters
|
|
4
iShares Core US Aggregate Bond ETF
AGG
$137B
| $49.7M | 3.36% |
466,894
-2,918
| -0.6% | -$306K |
2016 Q1
11 quarters
|
|
5
Microsoft
MSFT
$3.9T
| $40.3M | 2.73% |
396,986
-8,596
| -2% | -$921K |
2013 Q2
22 quarters
|
|
|
6
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
$48.4B
| $38.5M | 2.6% |
420,815
+405,385
| +2,627% | +$37.1M |
2018 Q2
2 quarters
|
|
|
7
State Street SPDR Nuveen ICE Short Term Municipal Bond ETF
SHM
$3.5B
| $36.9M | 2.49% |
767,856
-117,259
| -13% | -$5.59M |
2016 Q1
11 quarters
|
|
|
8
State Street SPDR S&P 500 ETF Trust
SPY
$799B
| $35.9M | 2.42% |
143,517
-133,753
| -48% | -$36.1M |
2016 Q1
11 quarters
|
|
9
State Street SPDR Nuveen ICE Municipal Bond ETF
TFI
$2.93B
| $30M | 2.03% |
623,451
-71,843
| -10% | -$3.4M |
2016 Q1
11 quarters
|
|
|
10
iShares Gold Trust
IAU
$57.4B
| $29.2M | 1.97% |
+1,188,255
| New | +$28M |
2018 Q4
0 quarters
|
|
11
Apple
AAPL
$5.2T
| $28.6M | 1.93% |
724,496
-27,864
| -4% | -$1.35M |
2013 Q2
22 quarters
|
|
12
Meta Platforms (Facebook)
META
$1.64T
| $24M | 1.62% |
182,775
-18,417
| -9% | -$2.67M |
2015 Q3
13 quarters
|
|
13
iShares S&P Small-Cap 600 Value ETF
IJS
$7.7B
| $23.2M | 1.57% |
351,826
+69,376
| +25% | +$5.15M |
2016 Q1
11 quarters
|
|
|
14
iShares Core MSCI EAFE ETF
IEFA
$191B
| $22.2M | 1.5% |
+404,259
| New | +$23.7M |
2018 Q4
0 quarters
|
|
|
15
SPDR Gold Trust
GLD
$130B
| $21.3M | 1.44% |
175,523
-295,040
| -63% | -$34.3M |
2016 Q1
11 quarters
|
|
16
Alphabet (Google) Class A
GOOGL
$3.63T
| $19.8M | 1.34% |
379,040
-10,220
| -3% | -$552K |
2015 Q4
12 quarters
|
|
17
iShares California Muni Bond ETF
CMF
$5.41B
| $19.2M | 1.3% |
328,987
-13,161
| -4% | -$758K |
2016 Q1
11 quarters
|
|
18
Vanguard Information Technology ETF
VGT
$138B
| $19M | 1.29% |
913,184
+90,736
| +11% | +$2.06M |
2016 Q1
11 quarters
|
|
19
Vanguard FTSE All-World ex-US ETF
VEU
$66.5B
| $18.8M | 1.27% |
412,580
+113,713
| +38% | +$5.46M |
2016 Q1
11 quarters
|
|
20
Cisco
CSCO
$378B
| $16.9M | 1.14% |
389,052
+1,321
| +0.3% | +$60.4K |
2013 Q2
22 quarters
|
|
21
iShares Core S&P 500 ETF
IVV
$873B
| $14.6M | 0.99% |
58,206
+7,003
| +14% | +$1.9M |
2016 Q1
11 quarters
|
|
22
Vanguard Morningstar Small-Cap Value ETF
VBR
$37.4B
| $13.9M | 0.94% |
122,176
+37,985
| +45% | +$4.81M |
2013 Q4
20 quarters
|
|
23
Johnson & Johnson
JNJ
$689B
| $12.5M | 0.85% |
97,016
+241
| +0.2% | +$33.6K |
2016 Q1
11 quarters
|
|
24
State Street SPDR Bloomberg Investment Grade Floating Rate ETF
FLRN
$3.21B
| $11.5M | 0.78% |
379,505
-67,063
| -15% | -$2.05M |
2017 Q4
4 quarters
|
|
25
Sprott Physical Gold
PHYS
$14.2B
| $11.3M | 0.76% |
1,097,374
+561,084
| +105% | +$5.53M |
2016 Q1
11 quarters
|
|
Similar funds
Bailard's Q4 2018 Portfolio in Review
As of Q4 2018, Bailard held 596 positions worth $1.48B, down 14% from $1.71B the previous quarter. Its ten largest holdings account for 30% of the portfolio.
Bailard's Q4 2018 filing shows 70 new, 138 increased, 203 reduced and 108 closed positions. Its largest new stake was iShares 0-1 Year Treasury Bond ETF: 513,630 shares worth $56.7M. The largest sale was Invesco QQQ Trust, an estimated $55M.
By sector, the portfolio is most concentrated in Miscellaneous at 55% of assets, up from 49% a quarter earlier, followed by Technology and Healthcare.
- Bailard's largest Q4 2018 buy was iShares 0-1 Year Treasury Bond ETF: 513,630 shares worth $56.7M.
- Bailard added most to PIMCO Enhanced Short Maturity Active Exchange-Traded Fund in Q4 2018, an estimated $56.8M increase.
- Bailard's biggest Q4 2018 reduction was Invesco QQQ Trust, cutting an estimated $55M.
- Bailard fully exited Reliance Steel & Aluminium in Q4 2018, selling an estimated $2.95M.
- Bailard's ten largest holdings make up 30% of its $1.48B portfolio in Q4 2018.
- Bailard opened 70 new positions and closed 108 in Q4 2018.
- Bailard's portfolio value fell 14% quarter-over-quarter to $1.48B.
Based on Bailard's 13F filing for Q4 2018, filed 5 Feb 2019.