Bailard, Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 2, 2025), Bailard, Inc. reported 735 stock positions worth $3.9 billion. Its top holding was Apple (AAPL) at 5.0% of the portfolio, followed by Microsoft (MSFT, 4.2%) and SS SPDR S&P 500 ETF Trust-US (SPY, 2.9%). Compared with Q4 2024, it opened 133 new positions, sold out of 123, added to 293 and reduced 205. The biggest buy was a new position in Vanguard Total Bond Market (BND) and the biggest sale Invesco QQQ Trust Series 1 (QQQ, shares −64%).
- Most Recent 13F
- Q2 2026
- Location
- Foster City, CA
- CIK
- 0000750641
- Portfolio Value
- $3.9B (Q1 2025)
- SEC Filing
- 0001172661-25-001565 ↗ filed May 2, 2025
Holdings Value
Holdings 735 stocks · $3.9B
| AAPL Apple Inc. | 4.98% | 869,377 | $193.1M | Add +2.7% |
| MSFT Microsoft Corp. | 4.20% | 433,058 | $162.6M | Add +1.9% |
| SPY SS SPDR S&P 500 ETF Trust-US | 2.93% | 203,049 | $113.6M | Reduce -0.3% |
| NVDA Nvidia Corp. | 2.85% | 1,020,409 | $110.6M | Add +28.3% |
| EFA iShares MSCI Eafe ETF | 2.85% | 1,351,236 | $110.4M | Add +208.7% |
| GLD SPDR Gold Shares | 2.40% | 323,336 | $93.2M | Reduce -0.7% |
| BND Vanguard Total Bond Market | 2.02% | 1,064,649 | $78.2M | New |
| GILD Gilead Sciences Inc. | 1.93% | 666,108 | $74.6M | Reduce -1.0% |
| GOOGL Alphabet Inc. Class A | 1.88% | 470,990 | $72.8M | Add +0.3% |
| CMF iShares California Muni Bond | 1.67% | 1,152,134 | $64.8M | Add +8.4% |
| JMBS Janus Henderson Mortg Backed | 1.67% | 1,433,078 | $64.8M | Reduce -2.8% |
| VGT Vanguard Info Tech ETF | 1.56% | 111,687 | $60.6M | Reduce -1.8% |
| IEFA iShares Core MSCI Eafe ETF | 1.55% | 793,901 | $60.1M | Reduce -0.8% |
| VTI VG Morningstar TS MKT ETF-US | 1.51% | 213,498 | $58.7M | Reduce -3.6% |
| V Visa Inc. Class A | 1.48% | 164,116 | $57.5M | Add +2.3% |
| JMUB JPMorgan Municipal ETF | 1.41% | 1,095,717 | $54.8M | Add +48.9% |
| JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F | 1.36% | 1,036,968 | $52.7M | Add +20.8% |
| VOO Vanguard S&P 500 ETF | 1.30% | 97,847 | $50.3M | Add +9.0% |
| AMZN Amazon.com Inc. | 1.29% | 262,048 | $49.9M | Reduce -2.2% |
| META Meta Platforms Inc. Class A | 1.22% | 82,269 | $47.4M | Add +0.5% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 1.18% | 245,790 | $45.8M | Add +3.9% |
| QQQ Invesco QQQ Trust Series 1 | 1.12% | 92,434 | $43.3M | Reduce -63.7% |
| UNH Unitedhealth Group Inc. | 1.03% | 75,875 | $39.7M | Add +0.8% |
| IVV iShares Core S&P 500 ETF | 1.02% | 70,636 | $39.7M | Reduce -0.2% |
| COST Costco Wholesale Corp. | 0.98% | 40,187 | $38.0M | Add +3.3% |
| JPM JPMorgan Chase & Co. | 0.95% | 150,787 | $37.0M | Add +4.1% |
| HD Home Depot Inc. | 0.85% | 89,496 | $32.8M | Add +3.1% |
| GOVT iShares US Treasury Bond ETF | 0.82% | 1,384,013 | $31.8M | Add +48.6% |
| VEU Vanguard Ftse All-World Ex-U | 0.81% | 518,295 | $31.4M | Reduce -6.2% |
| IJS iShares S&P Small-Cap 600 Va | 0.72% | 287,942 | $28.1M | Reduce -5.9% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.70% | 223,879 | $27.3M | Add +3.4% |
| BLK BlackRock Inc. | 0.67% | 27,606 | $26.1M | Add +2.4% |
| IJH iShares Core S&P Midcap ETF | 0.65% | 434,628 | $25.4M | Add +5.4% |
| PG The Procter & Gamble Co. | 0.65% | 147,922 | $25.2M | Add +0.9% |
| MS Morgan Stanley | 0.65% | 214,325 | $25.0M | Add +0.1% |
| XLK SS Technology Select Sector | 0.62% | 116,630 | $24.1M | Reduce -0.4% |
| TSM Taiwan Semiconductor-SP ADR | 0.61% | 141,351 | $23.5M | Reduce -0.1% |
| JNJ Johnson & Johnson | 0.60% | 141,294 | $23.4M | Add +4.5% |
| VWO Vanguard Ftse Emerging Marke | 0.58% | 495,020 | $22.4M | Reduce -1.0% |
| SPOT Spotify Technology SA | 0.58% | 40,648 | $22.4M | No change |
| NFLX Netflix Inc. | 0.58% | 23,918 | $22.3M | Add +0.1% |
| UBER Uber Technologies Inc. | 0.56% | 297,988 | $21.7M | Add +1.9% |
| FISV Fiserv Inc. | 0.55% | 96,163 | $21.2M | Reduce -1.0% |
| BSX Boston Scientific Corp. | 0.53% | 205,262 | $20.7M | Add +0.6% |
| INTU Intuit Inc. | 0.52% | 32,525 | $20.0M | Add +71.3% |
| TT Trane Technologies PLC | 0.51% | 59,031 | $19.9M | Add +1.7% |
| WM Waste Management Inc. | 0.51% | 85,879 | $19.9M | Add +0.7% |
| COP Conocophillips | 0.51% | 189,021 | $19.9M | Add +2.9% |
| QCOM Qualcomm Inc. | 0.50% | 126,441 | $19.4M | Reduce -0.3% |
| CB Chubb Ltd. | 0.49% | 62,536 | $18.9M | Add +1.0% |
| VRTX Vertex Pharmaceuticals Inc. | 0.47% | 37,947 | $18.4M | Add +1.4% |
| ACN Accenture PLC Class A | 0.46% | 57,258 | $17.9M | Add +4.2% |
| CMI Cummins Inc. | 0.46% | 56,863 | $17.8M | Add +1.6% |
| ADBE Adobe Inc. | 0.43% | 43,891 | $16.8M | Reduce -5.9% |
| KLAC KLA Corp. | 0.43% | 24,601 | $16.7M | Reduce -6.0% |
| ETN Eaton Corp. PLC | 0.41% | 58,919 | $16.0M | Add +3.4% |
| DHR Danaher Corp. | 0.41% | 77,257 | $15.8M | Reduce -3.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.39% | 28,654 | $15.3M | Add +2.2% |
| SPGI S&P Global Inc. | 0.39% | 30,020 | $15.3M | Add +0.5% |
| IBTG iShares Ibonds Dec 2026 Term | 0.39% | 659,607 | $15.1M | Reduce -16.4% |
| GOOG Alphabet Inc. Class C | 0.38% | 94,724 | $14.8M | Reduce -3.6% |
| CVX Chevron Corp. | 0.38% | 87,286 | $14.6M | Add +3.6% |
| AMGN Amgen Inc. | 0.37% | 46,533 | $14.5M | Add +2.2% |
| VEA Vanguard Ftse Developed ETF | 0.36% | 278,160 | $14.1M | Add +0.9% |
| VNQ Vanguard Real Estate ETF | 0.36% | 152,656 | $13.8M | Reduce -0.4% |
| AGZ iShares Agency Bond ETF | 0.35% | 124,926 | $13.7M | New |
| IWM iShares Russell 2000 ETF | 0.34% | 65,810 | $13.1M | Add +0.1% |
| IJR iShares Core S&P Small-Cap E | 0.34% | 125,231 | $13.1M | Add +2.0% |
| TXN Texas Instruments Inc. | 0.32% | 69,056 | $12.4M | Add +1.1% |
| IGM iShares Expanded Tech Sector | 0.32% | 135,464 | $12.3M | Reduce -10.8% |
| NOW ServiceNow Inc. | 0.31% | 15,070 | $12.0M | Reduce -2.2% |
| IWR iShares Russell Mid-Cap ETF | 0.30% | 138,482 | $11.8M | Add +0.3% |
| ABT Abbott Laboratories | 0.30% | 88,074 | $11.7M | Add +15.2% |
| MCD McDonald's Corp. | 0.30% | 37,061 | $11.6M | Reduce -0.1% |
| ACWX iShares MSCI Acwi Ex US ETF | 0.29% | 206,094 | $11.4M | Reduce -14.6% |
| PLD Prologis Inc. | 0.29% | 102,183 | $11.4M | Add +2.7% |
| STLD Steel Dynamics Inc. | 0.29% | 90,731 | $11.3M | Add +0.2% |
| PANW Palo Alto Networks Inc. | 0.29% | 66,184 | $11.3M | Reduce -5.3% |
| PEP Pepsico Inc. | 0.29% | 73,876 | $11.1M | Add +2.9% |
| AZN Astrazeneca PLC-Spons ADR | 0.28% | 149,760 | $11.0M | Add +0.5% |
| AVGO Broadcom Inc. | 0.28% | 65,718 | $11.0M | Add +8.9% |
| LIN Linde PLC | 0.28% | 23,560 | $11.0M | Add +0.5% |
| ZTS Zoetis Inc. | 0.28% | 65,569 | $10.8M | Add +1.4% |
| LLY Eli Lilly & Co. | 0.28% | 13,067 | $10.8M | Add +0.2% |
| ORCL Oracle Corp. | 0.28% | 76,882 | $10.7M | Reduce -5.2% |
| EEM iShares MSCI Emerging Market | 0.28% | 245,722 | $10.7M | Add +2.5% |
| SYK Stryker Corp. | 0.27% | 27,703 | $10.3M | Add +8.6% |
| IWN iShares Russell 2000 Value E | 0.26% | 66,813 | $10.1M | Reduce -86.7% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.25% | 235,847 | $9.8M | Reduce -12.9% |
| KO The Coca-Cola Co. | 0.24% | 131,039 | $9.4M | Add +1.5% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.24% | 94,292 | $9.3M | Add +4.6% |
| PNC PNC Financial Services Group | 0.24% | 52,930 | $9.3M | Add +5.0% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.24% | 35,912 | $9.3M | Add +2.1% |
| RSP Invesco S&P 500 Equal Weight | 0.24% | 53,537 | $9.3M | Add +11.3% |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.24% | 175,638 | $9.2M | Add +917.5% |
| IGSB iShares 1-5Y Inv Grade Corp. | 0.22% | 166,072 | $8.7M | Reduce -8.8% |
| TGT Target Corp. | 0.22% | 82,753 | $8.6M | Add +2.0% |
| XJH Ishare ESG SS S&P Midcap ETF | 0.22% | 215,806 | $8.4M | Add +2.3% |
| AMD Advanced Micro Devices | 0.22% | 81,527 | $8.4M | Reduce -10.2% |
| VCR Vanguard Consumer Discre ETF | 0.21% | 25,487 | $8.3M | Reduce -5.7% |
Portfolio Sells Q4 2024 → Q1 2025
| QQQ Invesco QQQ Trust Series 1 | Reduce -63.7% | 1.12% | −2.21 |
| IWN iShares Russell 2000 Value E | Reduce -86.7% | 0.26% | −1.85 |
| QLTA iShares Aaa - A Rated Corpor | Reduce -93.8% | 0.04% | −0.51 |
| VGT Vanguard Info Tech ETF | Reduce -1.8% | 1.56% | −0.24 |
| SPTS SS SPDR P St Term TSY ETF | Reduce -53.8% | 0.21% | −0.24 |
| AMZN Amazon.com Inc. | Reduce -2.2% | 1.29% | −0.22 |
| REGN Regeneron Pharmaceuticals | Reduce -69.9% | 0.07% | −0.18 |
| MUNI PIMCO Intermediate Municipal | Reduce -39.0% | 0.20% | −0.13 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -3.6% | 1.51% | −0.13 |
| VGIT Vanguard Intermediate-Term T | Reduce -88.6% | 0.02% | −0.13 |
| IJS iShares S&P Small-Cap 600 Va | Reduce -5.9% | 0.72% | −0.12 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -0.3% | 2.93% | −0.12 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -0.1% | 0.61% | −0.11 |
| NOW ServiceNow Inc. | Reduce -2.2% | 0.31% | −0.11 |
| MUB iShares National Muni Bond E | Reduce -39.7% | 0.15% | −0.10 |
| GOOG Alphabet Inc. Class C | Reduce -3.6% | 0.38% | −0.10 |
| ADBE Adobe Inc. | Reduce -5.9% | 0.43% | −0.10 |
| OEF iShares S&P 100 ETF | Reduce -48.4% | 0.08% | −0.08 |
| IGM iShares Expanded Tech Sector | Reduce -10.8% | 0.32% | −0.08 |
| XLK SS Technology Select Sector | Reduce -0.4% | 0.62% | −0.07 |
| CCEP Coca-Cola Europacific Partne | Sold out | 0.00% | −0.07 |
| IBTG iShares Ibonds Dec 2026 Term | Reduce -16.4% | 0.39% | −0.07 |
| DDOG Datadog Inc. Class A | Reduce -11.0% | 0.11% | −0.07 |
| ORCL Oracle Corp. | Reduce -5.2% | 0.28% | −0.07 |
| P Everpure Inc. Class A | Reduce -7.4% | 0.14% | −0.07 |
| AMD Advanced Micro Devices | Reduce -10.2% | 0.22% | −0.06 |
| DHR Danaher Corp. | Reduce -3.2% | 0.41% | −0.06 |
| BAC Bank of America Corp. | Reduce -12.9% | 0.25% | −0.05 |
| VCR Vanguard Consumer Discre ETF | Reduce -5.7% | 0.21% | −0.05 |
| VTEB Vanguard Tax-Exempt Bond ETF | Reduce -36.6% | 0.08% | −0.04 |
| EMR Emerson Electric Co. | Reduce -23.4% | 0.09% | −0.04 |
| HUBS HubSpot Inc. | Reduce -1.8% | 0.18% | −0.04 |
| IVV iShares Core S&P 500 ETF | Reduce -0.2% | 1.02% | −0.04 |
| CRM Salesforce Inc. | Reduce -1.9% | 0.14% | −0.04 |
| PANW Palo Alto Networks Inc. | Reduce -5.3% | 0.29% | −0.03 |
| AZPN Aspen Technology Inc. | Sold out | 0.00% | −0.03 |
| ACWX iShares MSCI Acwi Ex US ETF | Reduce -14.6% | 0.29% | −0.03 |
| MNDY Monday.com Ltd. | Reduce -63.1% | 0.02% | −0.03 |
| SONY Sony Group Corp. - SP ADR | Reduce -41.6% | 0.06% | −0.03 |
| VST Vistra Corp. | Reduce -52.8% | 0.02% | −0.02 |
| VRNS Varonis Systems Inc. | Reduce -13.2% | 0.08% | −0.02 |
| IVT Inventrust Properties Corp. | Sold out | 0.00% | −0.02 |
| PRU Prudential Financial Inc. | Reduce -52.0% | 0.02% | −0.02 |
| LADR Ladder Capital Corp.-REIT | Sold out | 0.00% | −0.02 |
| M Macy's Inc. | Sold out | 0.00% | −0.02 |
| NRIM Northrim Bancorp Inc. | Sold out | 0.00% | −0.02 |
| UPS United Parcel Service Class B | Reduce -14.4% | 0.06% | −0.02 |
| DRH Diamondrock Hospitality Co. | Sold out | 0.00% | −0.02 |
| MRC MRC Global Inc. | Sold out | 0.00% | −0.02 |
| ESML iShares ESG Aware MSCI USA S | Reduce -1.6% | 0.18% | −0.02 |
Portfolio Buys Q4 2024 → Q1 2025
| BND Vanguard Total Bond Market | New | 2.02% | +2.02 |
| EFA iShares MSCI Eafe ETF | Add +208.7% | 2.85% | +2.00 |
| JMUB JPMorgan Municipal ETF | Add +48.9% | 1.41% | +0.47 |
| AGZ iShares Agency Bond ETF | New | 0.35% | +0.35 |
| GOVT iShares US Treasury Bond ETF | Add +48.6% | 0.82% | +0.27 |
| JMST JPM Ultra-Short Muni Income | Add +20.8% | 1.36% | +0.25 |
| IGIB iShares 5-10Y Inv Grade Corp. | Add +917.5% | 0.24% | +0.22 |
| INTU Intuit Inc. | Add +71.3% | 0.52% | +0.21 |
| V Visa Inc. Class A | Add +2.3% | 1.48% | +0.19 |
| NVDA Nvidia Corp. | Add +28.3% | 2.85% | +0.12 |
| CMF iShares California Muni Bond | Add +8.4% | 1.67% | +0.12 |
| UBER Uber Technologies Inc. | Add +1.9% | 0.56% | +0.11 |
| JNJ Johnson & Johnson | Add +4.5% | 0.60% | +0.10 |
| VRTX Vertex Pharmaceuticals Inc. | Add +1.4% | 0.47% | +0.09 |
| ABT Abbott Laboratories | Add +15.2% | 0.30% | +0.08 |
| WM Waste Management Inc. | Add +0.7% | 0.51% | +0.07 |
| AMGN Amgen Inc. | Add +2.2% | 0.37% | +0.07 |
| COST Costco Wholesale Corp. | Add +3.3% | 0.98% | +0.07 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +2.2% | 0.39% | +0.07 |
| BSX Boston Scientific Corp. | Add +0.6% | 0.53% | +0.07 |
| JPM JPMorgan Chase & Co. | Add +4.1% | 0.95% | +0.07 |
| CVX Chevron Corp. | Add +3.6% | 0.38% | +0.07 |
| VOO Vanguard S&P 500 ETF | Add +9.0% | 1.30% | +0.06 |
| SPTI SS SPDR P Int Term TSY ETF | Add +224.2% | 0.09% | +0.06 |
| UNH Unitedhealth Group Inc. | Add +0.8% | 1.03% | +0.05 |
| IAU iShares Gold Trust | New | 0.05% | +0.05 |
| CB Chubb Ltd. | Add +1.0% | 0.49% | +0.05 |
| SCHF Schwab Intl Equity ETF | Add +23.3% | 0.19% | +0.05 |
| SUB iShares Short-Term National | Add +62.4% | 0.12% | +0.05 |
| COP Conocophillips | Add +2.9% | 0.51% | +0.05 |
| CART Maplebear Inc. | Add +170.8% | 0.07% | +0.04 |
| IBM Intl Business Machines Corp. | Add +63.1% | 0.09% | +0.04 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +103.1% | 0.08% | +0.04 |
| SPTL SS SPDR PF LNG TRM TSY E-Usd | Add +62.1% | 0.10% | +0.04 |
| KO The Coca-Cola Co. | Add +1.5% | 0.24% | +0.04 |
| TJX TJX Companies Inc. | Add +3.4% | 0.70% | +0.04 |
| AZN Astrazeneca PLC-Spons ADR | Add +0.5% | 0.28% | +0.03 |
| LIN Linde PLC | Add +0.5% | 0.28% | +0.03 |
| NFLX Netflix Inc. | Add +0.1% | 0.58% | +0.03 |
| SYK Stryker Corp. | Add +8.6% | 0.27% | +0.03 |
| STLD Steel Dynamics Inc. | Add +0.2% | 0.29% | +0.03 |
| EFAX State Street SPDR MSCI Eafe | Add +10.4% | 0.17% | +0.03 |
| VEA Vanguard Ftse Developed ETF | Add +0.9% | 0.36% | +0.03 |
| KIM Kimco Realty Corp. | New | 0.03% | +0.03 |
| UNM Unum Group | New | 0.03% | +0.03 |
| PLD Prologis Inc. | Add +2.7% | 0.29% | +0.03 |
| CYBR Cyberark Software Ltd./Israel | New | 0.03% | +0.03 |
| NTAP Netapp Inc. | New | 0.02% | +0.02 |
| RSP Invesco S&P 500 Equal Weight | Add +11.3% | 0.24% | +0.02 |
| PG The Procter & Gamble Co. | Add +0.9% | 0.65% | +0.02 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 763 | $4.9B | AAPL, NVDA, GOOGL, MSFT, SPY |
| Q1 2026 | 736 | $4.4B | AAPL, NVDA, MSFT, SPY, GOOGL |
| Q4 2025 | 743 | $4.5B | AAPL, MSFT, NVDA, GOOGL, SPY |
| Q3 2025 | 776 | $4.6B | MSFT, AAPL, NVDA, SPY, QQQ |
| Q2 2025 | 753 | $4.3B | MSFT, AAPL, NVDA, SPY, EFA |
| Q1 2025 | 735 | $3.9B | AAPL, MSFT, SPY, NVDA, EFA |
| Q4 2024 | 725 | $3.9B | AAPL, MSFT, QQQ, SPY, NVDA |
| Q3 2024 | 734 | $3.8B | AAPL, MSFT, QQQ, SPY, NVDA |
| Q2 2024 | 722 | $3.6B | MSFT, AAPL, QQQ, SPY, EFA |
| Q1 2024 | 731 | $3.6B | MSFT, AAPL, QQQ, SPY, EFA |