Bailard, Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 30, 2025), Bailard, Inc. reported 776 stock positions worth $4.6 billion. Its top holding was Microsoft (MSFT) at 4.9% of the portfolio, followed by Apple (AAPL, 4.7%) and Nvidia (NVDA, 4.0%). Compared with Q2 2025, it opened 135 new positions, sold out of 112, added to 240 and reduced 273. The biggest buy was Invesco QQQ Trust Series 1 (QQQ, shares +157%) and the biggest sale iShares MSCI Emerging Market (EEM, shares −87%).
- Most Recent 13F
- Q2 2026
- Location
- Foster City, CA
- CIK
- 0000750641
- Portfolio Value
- $4.6B (Q3 2025)
- SEC Filing
- 0001172661-25-004491 ↗ filed Oct 30, 2025
Holdings Value
Holdings 776 stocks · $4.6B
| MSFT Microsoft Corp. | 4.85% | 430,923 | $223.2M | Reduce -1.1% |
| AAPL Apple Inc. | 4.69% | 847,956 | $215.9M | Reduce -3.8% |
| NVDA Nvidia Corp. | 4.04% | 996,295 | $185.9M | Add +1.4% |
| SPY SS SPDR S&P 500 ETF Trust-US | 2.97% | 205,032 | $136.6M | Reduce -0.8% |
| QQQ Invesco QQQ Trust Series 1 | 2.97% | 227,269 | $136.4M | Add +157.4% |
| EFA iShares MSCI Eafe ETF | 2.90% | 1,427,316 | $133.3M | Add +3.0% |
| GOOGL Alphabet Inc. Class A | 2.48% | 468,592 | $113.9M | Reduce -1.6% |
| GLD SPDR Gold Shares | 2.44% | 315,457 | $112.1M | Reduce -0.6% |
| VGT Vanguard Info Tech ETF | 1.84% | 113,704 | $84.9M | Reduce -2.0% |
| CMF iShares California Muni Bond | 1.78% | 1,434,753 | $81.8M | Add +6.7% |
| GILD Gilead Sciences Inc. | 1.61% | 669,001 | $74.3M | Add +0.4% |
| IBTG iShares Ibonds Dec 2026 Term | 1.54% | 3,095,899 | $71.1M | Add +2375.2% |
| IEFA iShares Core MSCI Eafe ETF | 1.51% | 794,632 | $69.4M | Reduce -3.3% |
| VTI VG Morningstar TS MKT ETF-US | 1.47% | 205,904 | $67.6M | Add +1.6% |
| JMTG Mortgage-Backed Securities filed as J P MORGAN EXCHANGE TRADED F | 1.44% | 1,300,137 | $66.3M | New |
| VOO Vanguard S&P 500 ETF | 1.34% | 100,487 | $61.5M | Add +2.1% |
| META Meta Platforms Inc. Class A | 1.31% | 82,361 | $60.5M | Add +0.2% |
| AMZN Amazon.com Inc. | 1.30% | 271,838 | $59.7M | Add +2.8% |
| V Visa Inc. Class A | 1.20% | 161,431 | $55.1M | Reduce -0.2% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 1.12% | 247,841 | $51.7M | Add +0.5% |
| JPM JPMorgan Chase & Co. | 1.11% | 162,108 | $51.1M | Reduce -0.7% |
| IVV iShares Core S&P 500 ETF | 1.03% | 70,542 | $47.2M | Reduce -0.9% |
| TSM Taiwan Semiconductor-SP ADR | 0.85% | 140,129 | $39.1M | Reduce -0.5% |
| JMUB JPMorgan Municipal ETF | 0.84% | 762,659 | $38.5M | Reduce -43.2% |
| HD Home Depot Inc. | 0.82% | 93,382 | $37.8M | Reduce -0.1% |
| AVGO Broadcom Inc. | 0.82% | 114,374 | $37.7M | Add +2.1% |
| COST Costco Wholesale Corp. | 0.81% | 40,108 | $37.1M | Reduce -2.2% |
| VEU Vanguard Ftse All-World Ex-U | 0.81% | 520,027 | $37.1M | Add +1.4% |
| GOVT iShares US Treasury Bond ETF | 0.78% | 1,559,396 | $36.1M | Add +14.7% |
| XLK SS Technology Select Sector | 0.72% | 118,100 | $33.3M | Reduce -0.5% |
| BLK BlackRock Inc. | 0.70% | 27,700 | $32.3M | Reduce -2.3% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.68% | 215,563 | $31.2M | Reduce -3.4% |
| MS Morgan Stanley | 0.68% | 195,419 | $31.1M | Reduce -8.6% |
| IJS iShares S&P Small-Cap 600 Va | 0.66% | 273,214 | $30.2M | Reduce -1.2% |
| NFLX Netflix Inc. | 0.65% | 24,927 | $29.9M | Add +4.8% |
| IJH iShares Core S&P Midcap ETF | 0.64% | 452,535 | $29.5M | Reduce -2.0% |
| JNJ Johnson & Johnson | 0.61% | 152,544 | $28.3M | Reduce -1.1% |
| UBER Uber Technologies Inc. | 0.59% | 277,473 | $27.2M | Reduce -1.1% |
| VWO Vanguard Ftse Emerging Marke | 0.58% | 495,433 | $26.8M | Add +2.2% |
| CMI Cummins Inc. | 0.55% | 59,830 | $25.3M | Add +7.2% |
| TT Trane Technologies PLC | 0.55% | 59,829 | $25.2M | Add +2.3% |
| KLAC KLA Corp. | 0.54% | 23,132 | $25.0M | Reduce -5.1% |
| GOOG Alphabet Inc. Class C | 0.53% | 100,373 | $24.4M | Reduce -3.6% |
| SPOT Spotify Technology SA | 0.52% | 33,985 | $23.7M | Add +0.1% |
| PG The Procter & Gamble Co. | 0.51% | 153,953 | $23.7M | Reduce -2.5% |
| ORCL Oracle Corp. | 0.51% | 83,991 | $23.6M | Add +3.7% |
| INTU Intuit Inc. | 0.49% | 32,777 | $22.4M | Add +1.0% |
| PANW Palo Alto Networks Inc. | 0.48% | 109,440 | $22.3M | Add +76.2% |
| UNH Unitedhealth Group Inc. | 0.48% | 63,909 | $22.1M | Reduce -14.2% |
| QCOM Qualcomm Inc. | 0.48% | 132,559 | $22.1M | Reduce -1.8% |
| ETN Eaton Corp. PLC | 0.48% | 58,744 | $22.0M | Reduce -0.0% |
| BSX Boston Scientific Corp. | 0.43% | 203,447 | $19.9M | Reduce -1.0% |
| WM Waste Management Inc. | 0.40% | 83,152 | $18.4M | Reduce -2.8% |
| CVX Chevron Corp. | 0.39% | 114,967 | $17.9M | Add +16.3% |
| VEA Vanguard Ftse Developed ETF | 0.38% | 291,725 | $17.5M | Add +5.5% |
| IGM iShares Expanded Tech Sector | 0.38% | 137,638 | $17.3M | Add +1.1% |
| CB Chubb Ltd. | 0.38% | 61,379 | $17.3M | Reduce -1.7% |
| VNQ Vanguard Real Estate ETF | 0.37% | 184,063 | $16.8M | Add +19.8% |
| COP Conocophillips | 0.36% | 176,603 | $16.7M | Reduce -8.4% |
| IWM iShares Russell 2000 ETF | 0.33% | 63,649 | $15.4M | Add +0.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.33% | 30,596 | $15.4M | Reduce -0.6% |
| SPGI S&P Global Inc. | 0.33% | 31,372 | $15.3M | Add +2.3% |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.32% | 272,834 | $14.8M | Add +33.6% |
| AMD Advanced Micro Devices | 0.32% | 90,923 | $14.7M | Add +12.6% |
| IJR iShares Core S&P Small-Cap E | 0.32% | 122,519 | $14.6M | Reduce -1.3% |
| STLD Steel Dynamics Inc. | 0.31% | 101,166 | $14.1M | Add +12.0% |
| NOW ServiceNow Inc. | 0.30% | 15,175 | $14.0M | Reduce -0.4% |
| DHR Danaher Corp. | 0.30% | 70,097 | $13.9M | Reduce -7.8% |
| AMGN Amgen Inc. | 0.30% | 48,209 | $13.6M | Reduce -2.5% |
| VRTX Vertex Pharmaceuticals Inc. | 0.29% | 34,639 | $13.6M | Reduce -9.2% |
| ACWX iShares MSCI Acwi Ex US ETF | 0.29% | 206,804 | $13.4M | Add +0.4% |
| ACN Accenture PLC Class A | 0.29% | 54,421 | $13.4M | Reduce -13.6% |
| ABT Abbott Laboratories | 0.29% | 99,858 | $13.4M | Add +0.1% |
| EEM iShares MSCI Emerging Market | 0.29% | 247,725 | $13.2M | Reduce -86.9% |
| ADBE Adobe Inc. | 0.28% | 37,035 | $13.1M | Reduce -4.6% |
| SUB iShares Short-Term National | 0.28% | 122,291 | $13.1M | Reduce -34.2% |
| IWR iShares Russell Mid-Cap ETF | 0.27% | 129,876 | $12.5M | Reduce -1.2% |
| MUNI PIMCO Intermediate Municipal | 0.27% | 234,205 | $12.2M | Reduce -2.8% |
| SE Sea Ltd.-ADR | 0.26% | 68,086 | $12.2M | Add +11.5% |
| AGZ iShares Agency Bond ETF | 0.26% | 110,249 | $12.2M | Reduce -13.3% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.26% | 40,017 | $11.8M | Add +1.9% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.25% | 227,180 | $11.7M | Reduce -1.4% |
| IGSB iShares 1-5Y Inv Grade Corp. | 0.25% | 220,146 | $11.7M | Add +2.3% |
| IWN iShares Russell 2000 Value E | 0.25% | 65,905 | $11.7M | Reduce -1.1% |
| AZN Astrazeneca PLC-Spons ADR | 0.25% | 149,412 | $11.5M | Add +4.2% |
| MCD McDonald's Corp. | 0.25% | 37,281 | $11.3M | Reduce -0.7% |
| TXN Texas Instruments Inc. | 0.25% | 61,428 | $11.3M | Reduce -1.0% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.24% | 98,279 | $11.3M | Reduce -3.0% |
| PLD Prologis Inc. | 0.24% | 97,450 | $11.2M | Reduce -2.5% |
| PEP Pepsico Inc. | 0.24% | 78,609 | $11.0M | Reduce -0.0% |
| FISV Fiserv Inc. | 0.24% | 85,199 | $11.0M | Reduce -15.3% |
| COF Capital One Financial Corp. | 0.23% | 50,742 | $10.8M | Reduce -2.1% |
| LIN Linde PLC | 0.23% | 22,613 | $10.7M | Reduce -4.0% |
| CSCO Cisco Systems Inc. | 0.23% | 156,167 | $10.7M | Add +0.1% |
| ABBV Abbvie Inc. | 0.23% | 45,353 | $10.5M | Add +54.8% |
| LLY Eli Lilly & Co. | 0.22% | 13,406 | $10.2M | Add +3.2% |
| PNC PNC Financial Services Group | 0.22% | 50,552 | $10.2M | Reduce -4.1% |
| P Everpure Inc. Class A filed as PURE STORAGE INC | 0.22% | 120,554 | $10.1M | Reduce -1.8% |
| KO The Coca-Cola Co. | 0.22% | 151,831 | $10.1M | Add +4.5% |
| SYK Stryker Corp. | 0.22% | 26,783 | $9.9M | Reduce -3.4% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $290K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 235 | $290K | No change |
Total filed on the 13F, all lines: $4.6B.
Portfolio Sells Q2 2025 → Q3 2025
| EEM iShares MSCI Emerging Market | Reduce -86.9% | 0.29% | −1.84 |
| JMBS Janus Henderson Mortg Backed | Reduce -94.8% | 0.07% | −1.42 |
| JMST JPM Ultra-Short Muni Income | Reduce -91.2% | 0.07% | −0.74 |
| JMUB JPMorgan Municipal ETF | Reduce -43.2% | 0.84% | −0.72 |
| MSFT Microsoft Corp. | Reduce -1.1% | 4.85% | −0.20 |
| SUB iShares Short-Term National | Reduce -34.2% | 0.28% | −0.18 |
| FISV Fiserv Inc. | Reduce -15.3% | 0.24% | −0.17 |
| ACN Accenture PLC Class A | Reduce -13.6% | 0.29% | −0.15 |
| V Visa Inc. Class A | Reduce -0.2% | 1.20% | −0.14 |
| COST Costco Wholesale Corp. | Reduce -2.2% | 0.81% | −0.14 |
| CHKP Check Point Software Tech | Sold out | 0.00% | −0.13 |
| PHYS Sprott Physical Gold Trust | Reduce -66.7% | 0.06% | −0.11 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -9.2% | 0.29% | −0.10 |
| MUB iShares National Muni Bond E | Reduce -59.6% | 0.06% | −0.10 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -3.3% | 1.51% | −0.09 |
| BSX Boston Scientific Corp. | Reduce -1.0% | 0.43% | −0.08 |
| PG The Procter & Gamble Co. | Reduce -2.5% | 0.51% | −0.07 |
| TEAM Atlassian Corp. Class A | Reduce -84.6% | 0.01% | −0.07 |
| TEVA Teva Pharmaceutical-SP ADR | Sold out | 0.00% | −0.07 |
| ADBE Adobe Inc. | Reduce -4.6% | 0.28% | −0.07 |
| ICSH iShares Ultra Short Duration | Sold out | 0.00% | −0.06 |
| UNH Unitedhealth Group Inc. | Reduce -14.2% | 0.48% | −0.06 |
| NOW ServiceNow Inc. | Reduce -0.4% | 0.30% | −0.06 |
| AGZ iShares Agency Bond ETF | Reduce -13.3% | 0.26% | −0.06 |
| WM Waste Management Inc. | Reduce -2.8% | 0.40% | −0.06 |
| CART Maplebear Inc. | Reduce -90.1% | 0.00% | −0.06 |
| MRK Merck & Co. Inc. | Reduce -50.8% | 0.05% | −0.06 |
| TXN Texas Instruments Inc. | Reduce -1.0% | 0.25% | −0.06 |
| HES Hess Corp. | Sold out | 0.00% | −0.05 |
| MMSI Merit Medical Systems Inc. | Sold out | 0.00% | −0.05 |
| WAY Waystar Holding Corp. | Reduce -78.5% | 0.01% | −0.05 |
| DIS The Walt Disney Co. | Reduce -3.0% | 0.24% | −0.05 |
| DHR Danaher Corp. | Reduce -7.8% | 0.30% | −0.05 |
| TFC Truist Financial Corp. | Reduce -88.5% | 0.01% | −0.05 |
| AVY Avery Dennison Corp. | Sold out | 0.00% | −0.05 |
| TTD Trade Desk Inc./the Class A | Sold out | 0.00% | −0.05 |
| CB Chubb Ltd. | Reduce -1.7% | 0.38% | −0.05 |
| UPS United Parcel Service Class B | Reduce -78.7% | 0.01% | −0.04 |
| BALL Ball Corp. | Sold out | 0.00% | −0.04 |
| SYK Stryker Corp. | Reduce -3.4% | 0.22% | −0.04 |
| COP Conocophillips | Reduce -8.4% | 0.36% | −0.04 |
| DXCM Dexcom Inc. | Reduce -2.3% | 0.08% | −0.04 |
| HUBS HubSpot Inc. | Reduce -4.4% | 0.10% | −0.03 |
| BE Bloom Energy Corp. Class A | Sold out | 0.00% | −0.03 |
| CMCSA Comcast Corp. Class A | Reduce -4.6% | 0.11% | −0.03 |
| VZ Verizon Communications Inc. | Reduce -32.1% | 0.05% | −0.03 |
| MS Morgan Stanley | Reduce -8.6% | 0.68% | −0.03 |
| AMGN Amgen Inc. | Reduce -2.5% | 0.30% | −0.03 |
| IJH iShares Core S&P Midcap ETF | Reduce -2.0% | 0.64% | −0.03 |
| LIN Linde PLC | Reduce -4.0% | 0.23% | −0.02 |
Portfolio Buys Q2 2025 → Q3 2025
| QQQ Invesco QQQ Trust Series 1 | Add +157.4% | 2.97% | +1.83 |
| IBTG iShares Ibonds Dec 2026 Term | Add +2375.2% | 1.54% | +1.48 |
| JMTG Mortgage-Backed Securities | New | 1.44% | +1.44 |
| NVDA Nvidia Corp. | Add +1.4% | 4.04% | +0.42 |
| PANW Palo Alto Networks Inc. | Add +76.2% | 0.48% | +0.19 |
| CMI Cummins Inc. | Add +7.2% | 0.55% | +0.12 |
| NTNX Nutanix Inc. Class A | New | 0.11% | +0.11 |
| ABBV Abbvie Inc. | Add +54.8% | 0.23% | +0.10 |
| ORCL Oracle Corp. | Add +3.7% | 0.51% | +0.10 |
| AVGO Broadcom Inc. | Add +2.1% | 0.82% | +0.10 |
| IGIB iShares 5-10Y Inv Grade Corp. | Add +33.6% | 0.32% | +0.07 |
| TTWO Take-Two Interactive Softwre | New | 0.06% | +0.06 |
| LNG Cheniere Energy Inc. | Add +187.6% | 0.10% | +0.06 |
| CVX Chevron Corp. | Add +16.3% | 0.39% | +0.06 |
| GOVT iShares US Treasury Bond ETF | Add +14.7% | 0.78% | +0.06 |
| AMD Advanced Micro Devices | Add +12.6% | 0.32% | +0.05 |
| VNQ Vanguard Real Estate ETF | Add +19.8% | 0.37% | +0.05 |
| VT Vanguard Tot World STK ETF | Add +343.2% | 0.06% | +0.04 |
| CCEP Coca-Cola Europacific Partne | New | 0.04% | +0.04 |
| ANET Arista Networks Inc. | Add +21.6% | 0.11% | +0.04 |
| LRCX Lam Research Corp. | Add +0.0% | 0.17% | +0.04 |
| STLD Steel Dynamics Inc. | Add +12.0% | 0.31% | +0.04 |
| SE Sea Ltd.-ADR | Add +11.5% | 0.26% | +0.04 |
| VOO Vanguard S&P 500 ETF | Add +2.1% | 1.34% | +0.03 |
| VTI VG Morningstar TS MKT ETF-US | Add +1.6% | 1.47% | +0.03 |
| CMF iShares California Muni Bond | Add +6.7% | 1.78% | +0.03 |
| FAST Fastenal Co. | Add +317.8% | 0.04% | +0.03 |
| ITUB Itau Unibanco H-Spon PRF ADR | New | 0.03% | +0.03 |
| VYM Vanguard High DVD Yield ETF | Add +125.6% | 0.05% | +0.03 |
| TSLA Tesla Inc. | Add +0.8% | 0.11% | +0.03 |
| JOBY Joby Aviation Inc. | New | 0.03% | +0.03 |
| PRU Prudential Financial Inc. | Add +215.6% | 0.04% | +0.03 |
| SHOP Shopify Inc. Class A | Add +2.6% | 0.14% | +0.03 |
| ASML ASML Holding NV-NY Reg SHS | Add +5.5% | 0.17% | +0.03 |
| VWO Vanguard Ftse Emerging Marke | Add +2.2% | 0.58% | +0.02 |
| BNY Bank of New York Mellon Corp. | Add +25.7% | 0.09% | +0.02 |
| CDNS Cadence Design SYS Inc. | Add +12.5% | 0.14% | +0.02 |
| SON Sonoco Products Co. | New | 0.02% | +0.02 |
| AMX America Movil Sab DE CV | New | 0.02% | +0.02 |
| INTC Intel Corp. | Add +5.2% | 0.07% | +0.02 |
| IAU iShares Gold Trust | Add +33.2% | 0.07% | +0.02 |
| C Citigroup Inc. | Add +5.7% | 0.15% | +0.02 |
| CMG Chipotle Mexican Grill Inc. | Add +349.2% | 0.03% | +0.02 |
| IGM iShares Expanded Tech Sector | Add +1.1% | 0.38% | +0.02 |
| MFG Mizuho Financial Group-ADR | New | 0.02% | +0.02 |
| NYF iShares New York Muni Bond E | Add +47.4% | 0.07% | +0.02 |
| TGNA Tegna Inc. | New | 0.02% | +0.02 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +36.3% | 0.09% | +0.02 |
| CAH Cardinal Health Inc. | Add +106.4% | 0.04% | +0.02 |
| ILPT Industrial Logistics Propert | New | 0.02% | +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 |