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 MSCI Emerging Markets ETF
EEM
|
+$74.1M |
| 2 |
iShares Short-Term National Muni Bond ETF
SUB
|
+$15M |
| 3 |
JPMorgan Municipal ETF
JMUB
|
+$12.2M |
| 4 |
iShares California Muni Bond ETF
CMF
|
+$10.7M |
| 5 |
Broadcom
AVGO
|
+$10.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard Total Bond Market
BND
|
+$78.2M |
| 2 |
JPMorgan Ultra-Short Municipal Income ETF
JMST
|
+$18.1M |
| 3 |
iShares iBonds Dec 2026 Term Treasury ETF
IBTG
|
+$12.2M |
| 4 |
State Street SPDR Portfolio Short Term Treasury Index ETF
SPTS
|
+$5.93M |
| 5 |
Invesco S&P 500 Equal Weight ETF
RSP
|
+$5.55M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 40.68% |
| 2 | Technology | 22.99% |
| 3 | Financials | 8.01% |
| 4 | Healthcare | 6.98% |
| 5 | Communication Services | 5.95% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Microsoft
MSFT
$3.96T
| $217M | 5.05% |
435,572
+2,514
| +0.6% | +$1.09M |
2013 Q2
48 quarters
|
|
2
Apple
AAPL
$5.06T
| $181M | 4.21% |
881,294
+11,917
| +1% | +$2.41M |
2013 Q2
48 quarters
|
|
3
NVIDIA
NVDA
$4.08T
| $155M | 3.62% |
982,007
-38,402
| -4% | -$4.83M |
2017 Q4
30 quarters
|
|
4
State Street SPDR S&P 500 ETF Trust
SPY
$796B
| $128M | 2.98% |
206,654
+3,605
| +2% | +$2.06M |
2016 Q1
37 quarters
|
|
5
iShares MSCI EAFE ETF
EFA
$77.5B
| $124M | 2.89% |
1,386,025
+34,789
| +3% | +$2.97M |
2016 Q1
37 quarters
|
|
6
SPDR Gold Trust
GLD
$135B
| $96.7M | 2.25% |
317,261
-6,075
| -2% | -$1.84M |
2016 Q1
37 quarters
|
|
|
7
iShares MSCI Emerging Markets ETF
EEM
$28.1B
| $91.4M | 2.13% |
1,894,392
+1,648,670
| +671% | +$74.1M |
2016 Q1
37 quarters
|
|
8
Alphabet (Google) Class A
GOOGL
$3.53T
| $84M | 1.96% |
476,402
+5,412
| +1% | +$886K |
2015 Q4
38 quarters
|
|
9
Vanguard Information Technology ETF
VGT
$137B
| $77M | 1.79% |
928,416
+34,920
| +4% | +$2.54M |
2016 Q1
37 quarters
|
|
|
10
iShares California Muni Bond ETF
CMF
$5.45B
| $75M | 1.75% |
1,344,831
+192,697
| +17% | +$10.7M |
2016 Q1
37 quarters
|
|
11
Gilead Sciences
GILD
$212B
| $73.8M | 1.72% |
666,045
-63
| -0% | -$6.7K |
2015 Q3
39 quarters
|
|
12
iShares Core MSCI EAFE ETF
IEFA
$192B
| $68.6M | 1.6% |
821,334
+27,433
| +3% | +$2.18M |
2018 Q4
26 quarters
|
|
|
13
JPMorgan Municipal ETF
JMUB
$9.21B
| $66.6M | 1.55% |
1,341,884
+246,167
| +22% | +$12.2M |
2024 Q4
2 quarters
|
|
14
Janus Henderson Mortgage-Backed Securities ETF
JMBS
$6.27B
| $63.9M | 1.49% |
1,418,951
-14,127
| -1% | -$629K |
2020 Q4
18 quarters
|
|
15
Vanguard Morningstar Total Stock Market ETF
VTI
$686B
| $61.6M | 1.44% |
202,693
-10,805
| -5% | -$3.04M |
2016 Q1
37 quarters
|
|
16
Meta Platforms (Facebook)
META
$1.64T
| $60.7M | 1.41% |
82,225
-44
| -0.1% | -$27.2K |
2015 Q3
39 quarters
|
|
17
Amazon
AMZN
$2.93T
| $58M | 1.35% |
264,471
+2,423
| +0.9% | +$479K |
2013 Q3
47 quarters
|
|
18
Visa
V
$789B
| $57.4M | 1.34% |
161,755
-2,361
| -1% | -$823K |
2016 Q2
36 quarters
|
|
19
Vanguard S&P 500 ETF
VOO
$1.04T
| $55.9M | 1.3% |
98,445
+598
| +0.6% | +$314K |
2018 Q2
28 quarters
|
|
20
Invesco QQQ Trust
QQQ
$458B
| $48.7M | 1.14% |
88,279
-4,155
| -4% | -$2.07M |
2016 Q1
37 quarters
|
|
21
Vanguard Morningstar Small-Cap Value ETF
VBR
$37.7B
| $48.1M | 1.12% |
246,697
+907
| +0.4% | +$168K |
2013 Q4
46 quarters
|
|
22
JPMorgan Chase
JPM
$908B
| $47.3M | 1.1% |
163,323
+12,536
| +8% | +$3.2M |
2016 Q2
36 quarters
|
|
23
iShares Core S&P 500 ETF
IVV
$870B
| $44.2M | 1.03% |
71,189
+553
| +0.8% | +$318K |
2016 Q1
37 quarters
|
|
24
Costco
COST
$472B
| $40.6M | 0.95% |
41,017
+830
| +2% | +$825K |
2016 Q2
36 quarters
|
|
|
25
JPMorgan Ultra-Short Municipal Income ETF
JMST
$8.42B
| $34.7M | 0.81% |
680,488
-356,480
| -34% | -$18.1M |
2024 Q4
2 quarters
|
|
Similar funds
Bailard's Q2 2025 Portfolio in Review
As of Q2 2025, Bailard held 861 positions worth $4.29B, up 11% from $3.87B the previous quarter. Its ten largest holdings account for 29% of the portfolio.
Bailard's Q2 2025 filing shows 126 new, 252 increased, 282 reduced and 107 closed positions. Its largest new stake was iShares ESG Advanced MSCI EAFE ETF: 70,823 shares worth $5.27M. The largest sale was Vanguard Total Bond Market, an estimated $78.2M.
By sector, the portfolio is most concentrated in Miscellaneous at 41% of assets, down from 42% a quarter earlier, followed by Technology and Financials.
- Bailard's largest Q2 2025 buy was iShares ESG Advanced MSCI EAFE ETF: 70,823 shares worth $5.27M.
- Bailard added most to iShares MSCI Emerging Markets ETF in Q2 2025, an estimated $74.1M increase.
- Bailard's biggest Q2 2025 reduction was JPMorgan Ultra-Short Municipal Income ETF, cutting an estimated $18.1M.
- Bailard fully exited Vanguard Total Bond Market in Q2 2025, selling an estimated $78.2M.
- Bailard's ten largest holdings make up 29% of its $4.29B portfolio in Q2 2025.
- Bailard opened 126 new positions and closed 107 in Q2 2025.
- Bailard's portfolio value rose 11% quarter-over-quarter to $4.29B.
Based on Bailard's 13F filing for Q2 2025, filed 8 Aug 2025.