Baird Portfolio holdings

AUM $9.78B

1-Year Est. Return 11.39%

2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2

This Quarter Est. Return

1 Year Est. Return

+11.39%

3 Year Est. Return

5 Year Est. Return

10 Year Est. Return

AUM

$9.4B

AUM Growth

+$2.27B (+32%)

Cap. Flow

Cap. Flow % of AUM

Top 10 Holdings % Top 10 Hldgs %

Holding

1,361

New

Increased

Reduced

Closed

Top Buys

1		+$77.5M
2		+$45.5M
3		+$39.6M
4	AbbVie ABBV	+$38.6M
5	Digital Realty Trust DLR	+$38M

Top Sells

1		+$37.5M
2		+$32.4M
3		+$31.8M
4	Microchip Technology MCHP	+$31.1M
5	IBM IBM	+$27.8M

Sector Composition

1	Technology	12.37%
2	Industrials	12.28%
3	Healthcare	11.51%
4	Consumer Discretionary	10.17%
5	Financials	9.87%

Communication Services

Advertising Agencies

Broadcasting

Electronic Gaming & Multimedia

Entertainment

Internet Content & Information

Publishing

Telecom Services

Consumer Discretionary

Apparel Manufacturing

Apparel Retail

Auto Manufacturers

Auto Parts

Auto & Truck Dealerships

Department Stores

Footwear & Accessories

Furnishings, Fixtures & Appliances

Gambling

Home Improvement Retail

Internet Retail

Leisure

Lodging

Luxury Goods

Packaging & Containers

Personal Services

Recreational Vehicles

Residential Construction

Resorts & Casinos

Restaurants

Specialty Retail

Textile Manufacturing

Travel Services

Consumer Staples

Beverages - Brewers

Beverages - Non-Alcoholic

Beverages - Wineries & Distilleries

Confectioners

Discount Stores

Education & Training Services

Farm Products

Food Distribution

Grocery Stores

Household & Personal Products

Packaged Foods

Tobacco

Energy

Oil & Gas Drilling

Oil & Gas Equipment & Services

Oil & Gas Exploration & Production

Oil & Gas Integrated

Oil & Gas Midstream

Oil & Gas Refining & Marketing

Thermal Coal

Uranium

Financials

Asset Management

Banks - Diversified

Banks - Regional

Capital Markets

Credit Services

Diversified Insurance

Financial Conglomerates

Financial Data & Stock Exchanges

Insurance Brokers

Life Insurance

Mortgage Finance

Property & Casualty Insurance

Reinsurance

Shell Companies

Specialty - Insurance

Healthcare

Biotechnology

Diagnostics & Research

Drug Manufacturers - General

Drug Manufacturers - Specialty & Generic

Healthcare Plans

Health Information Services

Medical Care Facilities

Medical Devices

Medical Distribution

Medical Instruments & Supplies

Pharmaceutical Retailers

Industrials

Aerospace & Defense

Airlines

Airports & Air Services

Building Products & Equipment

Business Equipment & Supplies

Conglomerates

Consulting Services

Electrical Equipment & Parts

Engineering & Construction

Farm & Heavy Construction Machinery

Industrial Distribution

Infrastructure Operations

Integrated Freight & Logistics

Marine Shipping

Metal Fabrication

Pollution & Treatment Controls

Railroads

Rental & Leasing Services

Security & Protection Services

Specialty Business Services

Specialty Industrial Machinery

Staffing & Employment Services

Tools & Accessories

Trucking

Waste Management

Materials

Agricultural Inputs

Aluminum

Building Materials

Chemicals

Coking Coal

Copper

Gold

Lumber & Wood Production

Other Industrial Metals & Mining

Other Precious Metals & Mining

Paper & Paper Products

Silver

Specialty Chemicals

Steel

Real Estate

Diversified REIT

Healthcare Facilities REIT

Hotel & Motel REIT

Industrial REIT

Mortgage REIT

Office REIT

Real Estate Development

Real Estate Diversified

Real Estate Services

Residential REIT

Retail REIT

Specialty REIT

Technology

Communication Equipment

Computer Hardware

Consumer Electronics

Electronic Components

Electronics & Computer Distribution

Information Technology Services

Scientific & Technical Instruments

Semiconductor Equipment & Materials

Semiconductors

Software - Application

Software - Infrastructure

Solar

Utilities

Diversified Utilities

Electric Utilities

Gas Utilities

Independent Power Producers

Renewable Electricity

Water Utilities

#	Name	Market Value	Portfolio Weight	Shares or Principal
176	176 Industrial Select Sector SPDR Fund XLI $23.7B	$14.3M	0.15%	251,848 +220,847
177	177 Qualcomm QCOM $180B	$14.1M	0.15%	189,948 +30,051
178	178 Amgen AMGN $163B	$14.1M	0.15%	88,308 -30,460
179	179 CVS Health CVS $105B	$14M	0.15%	145,611 +34,192
180	ABB 180 DELISTED ABB Ltd ABB	$13.5M	0.14%	638,523 +531,881
181	GG 181 DELISTED Goldcorp Inc GG	$13.4M	0.14%	722,542 +696,917
182	182 Utilities Select Sector SPDR Fund XLU $22.5B	$13.3M	0.14%	281,263 +112,647
183	183 Core Laboratories CLB $556M	$13.2M	0.14%	109,897 +2,920
184	184 Xylem XYL $35.7B	$13.1M	0.14%	343,070 +302,965
185	RDS.B 185 DELISTED Royal Dutch Shell PLC ADS Class B RDS.B	$12.9M	0.14%	184,748 +146,563
186	186 Novo Nordisk NVO $248B	$12.8M	0.14%	604,076 +594,726
187	187 Norfolk Southern NSC $65.3B	$12.8M	0.14%	116,345 +60,218
188	188 Illinois Tool Works ITW $73.6B	$12.4M	0.13%	131,392 +7,243
189	189 Weyerhaeuser WY $16.8B	$12.4M	0.13%	+346,047
190	190 American Tower AMT $90.4B	$12.4M	0.13%	125,551 +1,516
191	191 VF Corp VFC $5.64B	$12.3M	0.13%	173,722 -1,923
192	192 Exact Sciences EXAS $11.9B	$12.1M	0.13%	442,233 +67,654
193	193 Ecolab ECL $79.5B	$12.1M	0.13%	115,806 -4,773
194	194 Comcast CMCSA $109B	$11.8M	0.13%	408,538 +109,394
195	195 Meta Platforms (Facebook) META $1.84T	$11.8M	0.13%	151,801 +49,985
196	196 Salesforce CRM $242B	$11.8M	0.13%	198,952 +28,008
197	197 Accenture ACN $150B	$11.8M	0.13%	132,110 +5,282
198	198 DuPont de Nemours DD $33.9B	$11.8M	0.13%	127,878 +26,439
199	199 General Mills GIS $26B	$11.4M	0.12%	214,674 +5,064
200	200 GSK GSK $88.7B	$11.4M	0.12%	213,338 +167,410