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 |
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
|
+$63.6M |
| 2 |
iShares 20+ Year Treasury Bond ETF
TLT
|
+$58.2M |
| 3 |
iShares National Muni Bond ETF
MUB
|
+$11M |
| 4 |
iShares MBS ETF
MBB
|
+$9.7M |
| 5 |
NXP Semiconductors
NXPI
|
+$8.31M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Invesco QQQ Trust
QQQ
|
+$59.9M |
| 2 |
Vanguard Total Bond Market
BND
|
+$57.1M |
| 3 |
State Street SPDR Nuveen ICE Short Term Municipal Bond ETF
SHM
|
+$12.6M |
| 4 |
DXC Technology
DXC
|
+$8.83M |
| 5 |
iShares Core US Aggregate Bond ETF
AGG
|
+$7.62M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 54.71% |
| 2 | Technology | 14.32% |
| 3 | Healthcare | 7.2% |
| 4 | Financials | 4.95% |
| 5 | Communication Services | 4.83% |
| 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
| $78.2M | 4.73% |
263,395
-4,932
| -2% | -$1.46M |
2016 Q1
14 quarters
|
|
2
Vanguard Morningstar Total Stock Market ETF
VTI
$689B
| $74.8M | 4.52% |
495,415
-8,664
| -2% | -$1.31M |
2016 Q1
14 quarters
|
|
|
3
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$32.2B
| $64.4M | 3.89% |
+504,999
| New | +$63.6M |
2019 Q3
0 quarters
|
|
4
iShares US Real Estate ETF
IYR
$3.98B
| $62.4M | 3.77% |
666,640
-405
| -0.1% | -$36.9K |
2016 Q1
14 quarters
|
|
|
5
iShares 20+ Year Treasury Bond ETF
TLT
$47.6B
| $60M | 3.63% |
+419,054
| New | +$58.2M |
2019 Q3
0 quarters
|
|
6
Microsoft
MSFT
$3.88T
| $49.9M | 3.02% |
358,767
-1,332
| -0.4% | -$183K |
2013 Q2
25 quarters
|
|
7
Apple
AAPL
$5.16T
| $41.6M | 2.52% |
743,828
+49,632
| +7% | +$2.59M |
2013 Q2
25 quarters
|
|
8
State Street SPDR Portfolio Short Term Corporate Bond Index ETF
SPSB
$11B
| $36.5M | 2.2% |
1,181,762
-54,585
| -4% | -$1.68M |
2016 Q1
14 quarters
|
|
9
iShares S&P Small-Cap 600 Value ETF
IJS
$7.7B
| $29.8M | 1.8% |
397,208
+7,892
| +2% | +$580K |
2016 Q1
14 quarters
|
|
10
Vanguard FTSE All-World ex-US ETF
VEU
$66.6B
| $28.2M | 1.71% |
565,439
+164,145
| +41% | +$8.18M |
2016 Q1
14 quarters
|
|
11
Vanguard Information Technology ETF
VGT
$138B
| $25.3M | 1.53% |
938,568
-3,752
| -0.4% | -$101K |
2016 Q1
14 quarters
|
|
|
12
iShares National Muni Bond ETF
MUB
$54.4B
| $24.4M | 1.48% |
213,965
+96,534
| +82% | +$11M |
2016 Q4
11 quarters
|
|
13
iShares California Muni Bond ETF
CMF
$5.41B
| $24M | 1.45% |
391,875
+41,048
| +12% | +$2.51M |
2016 Q1
14 quarters
|
|
14
iShares Core S&P 500 ETF
IVV
$875B
| $23.1M | 1.39% |
77,263
+23,064
| +43% | +$6.86M |
2016 Q1
14 quarters
|
|
15
Alphabet (Google) Class A
GOOGL
$3.67T
| $22.7M | 1.37% |
371,320
+3,520
| +1% | +$208K |
2015 Q4
15 quarters
|
|
|
16
iShares MBS ETF
MBB
$35.3B
| $21.2M | 1.28% |
195,826
+90,076
| +85% | +$9.7M |
2019 Q2
1 quarter
|
|
17
Meta Platforms (Facebook)
META
$1.59T
| $20.5M | 1.24% |
115,131
-11,170
| -9% | -$2.12M |
2015 Q3
16 quarters
|
|
18
iShares US Treasury Bond ETF
GOVT
$42.6B
| $19.2M | 1.16% |
728,607
-14,101
| -2% | -$368K |
2019 Q1
2 quarters
|
|
19
Vanguard Morningstar Small-Cap Value ETF
VBR
$37.5B
| $18.7M | 1.13% |
145,440
+8,526
| +6% | +$1.09M |
2013 Q4
23 quarters
|
|
20
Cisco
CSCO
$402B
| $18.3M | 1.11% |
370,766
-11,765
| -3% | -$611K |
2013 Q2
25 quarters
|
|
21
Home Depot
HD
$347B
| $13.6M | 0.83% |
58,802
+7,616
| +15% | +$1.66M |
2016 Q1
14 quarters
|
|
22
iShares 5-10 Year Investment Grade Corporate Bond ETF
IGIB
$19.3B
| $13.5M | 0.82% |
233,566
+69,611
| +42% | +$4M |
2019 Q2
1 quarter
|
|
|
23
Invesco QQQ Trust
QQQ
$461B
| $12.4M | 0.75% |
65,936
-315,962
| -83% | -$59.9M |
2016 Q1
14 quarters
|
|
24
Vanguard Real Estate ETF
VNQ
$38.6B
| $12.3M | 0.74% |
131,960
+1,088
| +0.8% | +$98.8K |
2016 Q1
14 quarters
|
|
25
Johnson & Johnson
JNJ
$683B
| $11.8M | 0.72% |
91,593
-1,471
| -2% | -$194K |
2016 Q1
14 quarters
|
|
Similar funds
Bailard's Q3 2019 Portfolio in Review
As of Q3 2019, Bailard held 624 positions worth $1.65B, up 1.1% from $1.64B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Bailard's Q3 2019 filing shows 85 new, 145 increased, 196 reduced and 96 closed positions. Its largest new stake was iShares iBoxx $ Investment Grade Corporate Bond ETF: 504,999 shares worth $64.4M. The largest sale was Invesco QQQ Trust, an estimated $59.9M.
By sector, the portfolio is most concentrated in Miscellaneous at 55% of assets, down from 55% a quarter earlier, followed by Technology and Healthcare.
- Bailard's largest Q3 2019 buy was iShares iBoxx $ Investment Grade Corporate Bond ETF: 504,999 shares worth $64.4M.
- Bailard added most to iShares National Muni Bond ETF in Q3 2019, an estimated $11M increase.
- Bailard's biggest Q3 2019 reduction was Invesco QQQ Trust, cutting an estimated $59.9M.
- Bailard fully exited Vanguard Total Bond Market in Q3 2019, selling an estimated $57.1M.
- Bailard's ten largest holdings make up 32% of its $1.65B portfolio in Q3 2019.
- Bailard opened 85 new positions and closed 96 in Q3 2019.
- Bailard's portfolio value rose 1.1% quarter-over-quarter to $1.65B.
Based on Bailard's 13F filing for Q3 2019, filed 18 Oct 2019.