Baird Financial Group, Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Baird Financial Group, Inc. reported 1,760 stock positions worth $57.0 billion. Its top holding was Microsoft (MSFT) at 4.8% of the portfolio, followed by Apple (AAPL, 3.5%) and JPMorgan Chase (JPM, 3.2%). Compared with Q1 2025, it opened 113 new positions, sold out of 101, added to 777 and reduced 789. The biggest buy was Microsoft (MSFT, shares +0%) and the biggest sale Berkshire Hathaway Class B (BRK.B, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- MILWAUKEE, WI
- CIK
- 0001648711
- Portfolio Value
- $57.0B (Q2 2025)
- SEC Filing
- 0001083831-25-000011 ↗ filed Aug 13, 2025
Holdings Value
Holdings 1,760 stocks · $57.0B
| MSFT Microsoft Corp. | 4.79% | 5,488,964 | $2.7B | Add +0.2% |
| AAPL Apple Inc. | 3.46% | 9,620,363 | $2.0B | Add +0.2% |
| JPM JPMorgan Chase & Co. | 3.18% | 6,257,540 | $1.8B | Add +2.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.08% | 2,436,202 | $1.2B | Reduce -0.4% |
| GOOG Alphabet Inc. Class C | 2.04% | 6,571,131 | $1.2B | Add +2.5% |
| IWF iShares Russell 1000 Growth | 2.03% | 2,729,778 | $1.2B | Add +15.8% |
| META Meta Platforms Inc. Class A | 1.98% | 1,526,570 | $1.1B | Add +9.0% |
| IWD iShares Russell 1000 Value E | 1.80% | 5,275,282 | $1.0B | Add +12.7% |
| HD Home Depot Inc. | 1.73% | 2,683,753 | $984.0M | Add +3.2% |
| VEA Vanguard Ftse Developed ETF | 1.72% | 17,199,318 | $980.5M | Reduce -1.2% |
| PGR Progressive Corp. | 1.66% | 3,556,688 | $949.1M | Add +4.6% |
| AMZN Amazon.com Inc. | 1.56% | 4,043,391 | $887.1M | Add +55.9% |
| GE General Electric filed as GE AEROSPACE | 1.44% | 3,200,483 | $823.8M | Add +6.0% |
| GEV GE Vernova Inc. | 1.44% | 1,556,103 | $823.4M | Reduce -7.6% |
| NVDA Nvidia Corp. | 1.36% | 4,898,906 | $774.0M | Add +4.2% |
| IWR iShares Russell Mid-Cap ETF | 1.32% | 8,215,063 | $755.5M | Reduce -0.0% |
| SCHW Schwab (charles) Corp. | 1.17% | 7,294,943 | $665.6M | Add +5.7% |
| JNJ Johnson & Johnson | 1.11% | 4,161,588 | $635.7M | Add +1.6% |
| PH Parker Hannifin Corp. | 1.09% | 890,467 | $622.0M | Add +5.1% |
| FAST Fastenal Co. | 1.06% | 14,387,440 | $604.3M | Reduce -14.6% |
| IJR iShares Core S&P Small-Cap E | 1.05% | 5,478,695 | $598.8M | Reduce -3.3% |
| COST Costco Wholesale Corp. | 1.04% | 601,569 | $595.5M | Reduce -0.6% |
| AVGO Broadcom Inc. | 0.99% | 2,053,956 | $566.2M | Add +0.8% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.97% | 4,447,213 | $551.5M | Add +4.8% |
| ORLY O'reilly Automotive Inc. | 0.94% | 5,955,288 | $536.8M | Reduce -13.9% |
| IVV iShares Core S&P 500 ETF | 0.86% | 788,969 | $489.9M | Reduce -0.5% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.84% | 3,889,446 | $480.3M | Add +4.0% |
| VOO Vanguard S&P 500 ETF | 0.83% | 829,440 | $471.1M | Reduce -3.6% |
| TEL Te Connectivity PLC | 0.82% | 2,758,278 | $465.2M | Add +5.0% |
| IEFA iShares Core MSCI Eafe ETF | 0.79% | 5,407,908 | $451.5M | Reduce -6.0% |
| UNP Union Pacific Corp. | 0.77% | 1,911,517 | $439.8M | Reduce -3.7% |
| V Visa Inc. Class A | 0.69% | 1,114,236 | $395.6M | Add +0.5% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.67% | 621,677 | $384.1M | Add +0.8% |
| ABBV Abbvie Inc. | 0.65% | 1,987,340 | $368.9M | Reduce -1.8% |
| DHR Danaher Corp. | 0.64% | 1,847,491 | $365.0M | Add +28.1% |
| GOOGL Alphabet Inc. Class A | 0.60% | 1,937,680 | $341.5M | Reduce -5.9% |
| VGSH Vanguard Short-Term Treasury | 0.59% | 5,751,500 | $338.1M | Add +18.5% |
| VCIT Vanguard Int-Term Corporate | 0.56% | 3,869,651 | $320.9M | Add +18.2% |
| WFC Wells Fargo & Co. | 0.55% | 3,920,550 | $314.1M | Add +4.3% |
| MA Mastercard Inc. Class A | 0.54% | 547,981 | $307.9M | Add +1.6% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.52% | 6,298,901 | $298.1M | Reduce -1.1% |
| OMC Omnicom Group | 0.52% | 4,132,858 | $297.3M | Add +6.1% |
| BIV Vanguard Intermediate-Term B | 0.48% | 3,562,434 | $275.5M | Add +5.5% |
| ABT Abbott Laboratories | 0.48% | 1,992,050 | $270.9M | Add +0.6% |
| PG The Procter & Gamble Co. | 0.46% | 1,642,493 | $261.7M | Reduce -3.5% |
| VWO Vanguard Ftse Emerging Marke | 0.44% | 5,112,512 | $252.9M | Add +9.3% |
| IEF iShares 7-10 Year Treasury B | 0.44% | 2,634,983 | $252.4M | Add +4.1% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.44% | 1,426,340 | $252.1M | Add +0.8% |
| VTI VG Morningstar TS MKT ETF-US | 0.42% | 787,131 | $239.2M | Add +3.7% |
| CVX Chevron Corp. | 0.40% | 1,603,567 | $229.6M | Reduce -5.5% |
| KMX Carmax Inc. | 0.39% | 3,298,113 | $221.7M | Add +6.6% |
| EXPD Expeditors Intl Wash Inc. | 0.39% | 1,937,324 | $221.3M | Add +5.0% |
| WMT Walmart Inc. | 0.38% | 2,234,201 | $218.5M | Reduce -1.8% |
| IJH iShares Core S&P Midcap ETF | 0.38% | 3,473,705 | $215.4M | Add +2.6% |
| LLY Eli Lilly & Co. | 0.36% | 266,569 | $207.8M | Add +2.2% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.36% | 469,987 | $206.0M | Add +1.9% |
| CSCO Cisco Systems Inc. | 0.35% | 2,916,044 | $202.3M | Reduce -9.8% |
| QQQ Invesco QQQ Trust Series 1 | 0.34% | 353,995 | $195.3M | Reduce -2.7% |
| VEU Vanguard Ftse All-World Ex-U | 0.34% | 2,901,214 | $195.0M | Add +8.2% |
| TSM Taiwan Semiconductor-SP ADR | 0.34% | 856,067 | $193.9M | Add +16.2% |
| BLK BlackRock Inc. | 0.33% | 181,204 | $190.1M | Reduce -1.8% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.32% | 775,674 | $183.8M | Add +11.3% |
| EFV iShares MSCI Eafe Value ETF | 0.30% | 2,661,374 | $168.9M | Add +3.2% |
| DFAC Dimensional US Core Equity 2 | 0.29% | 4,582,188 | $164.2M | Reduce -0.2% |
| MCD McDonald's Corp. | 0.28% | 538,676 | $157.4M | Reduce -0.7% |
| ADP Automatic Data Processing | 0.27% | 491,903 | $151.7M | Add +0.1% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.26% | 538,132 | $150.6M | Add +0.8% |
| SPGI S&P Global Inc. | 0.26% | 279,820 | $147.5M | Add +5.6% |
| SYK Stryker Corp. | 0.26% | 371,769 | $147.1M | Add +3.4% |
| XOM Exxon Mobil Corp. | 0.25% | 1,337,738 | $144.2M | Reduce -2.1% |
| FISV Fiserv Inc. | 0.25% | 820,814 | $141.5M | Add +1.1% |
| IEMG iShares Core MSCI Emerging | 0.24% | 2,235,127 | $134.2M | Add +2.5% |
| VIG Vanguard Dividend Apprec ETF | 0.23% | 650,338 | $133.1M | Add +6.7% |
| IWM iShares Russell 2000 ETF | 0.23% | 615,948 | $132.9M | Add +6.4% |
| ETN Eaton Corp. PLC | 0.23% | 370,531 | $132.3M | Add +8.8% |
| ASML ASML Holding NV-NY Reg SHS | 0.22% | 157,808 | $126.5M | Add +16.8% |
| PEP Pepsico Inc. | 0.22% | 951,642 | $125.7M | Reduce -0.8% |
| SHW The Sherwin-Williams Co. | 0.22% | 360,669 | $123.8M | Add +2.6% |
| SCHD Schwab US DVD Equity ETF | 0.22% | 4,630,952 | $122.7M | Add +5.5% |
| CAT Caterpillar Inc. | 0.21% | 315,581 | $122.5M | Reduce -22.3% |
| PAYX Paychex Inc. | 0.21% | 834,655 | $121.4M | Reduce -2.7% |
| EFA iShares MSCI Eafe ETF | 0.21% | 1,342,139 | $120.0M | Add +0.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.21% | 398,650 | $117.5M | Reduce -19.8% |
| SBUX Starbucks Corp. | 0.20% | 1,256,252 | $115.1M | Reduce -6.8% |
| SPSB SS SPDR P St C Corp. ETF | 0.20% | 3,799,251 | $114.7M | Reduce -7.9% |
| TSLA Tesla Inc. | 0.20% | 359,602 | $114.2M | Reduce -5.4% |
| ADI Analog Devices Inc. | 0.20% | 471,077 | $112.1M | Add +0.7% |
| BR Broadridge Financial Solutio | 0.19% | 457,291 | $111.1M | Reduce -3.7% |
| RTX RTX Corp. | 0.19% | 758,970 | $110.8M | Reduce -1.1% |
| ORCL Oracle Corp. | 0.19% | 506,681 | $110.8M | Add +2.4% |
| WCN Waste Connections Inc. | 0.19% | 575,522 | $107.5M | Add +24.0% |
| CRM Salesforce Inc. | 0.19% | 390,765 | $106.6M | Add +1.1% |
| ACN Accenture PLC Class A | 0.19% | 355,268 | $106.2M | Reduce -1.7% |
| PANW Palo Alto Networks Inc. | 0.19% | 516,996 | $105.8M | Add +0.9% |
| QCOM Qualcomm Inc. | 0.18% | 660,035 | $105.1M | Reduce -13.8% |
| APH Amphenol Corp. Class A | 0.18% | 1,052,532 | $103.9M | Add +6.5% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.18% | 1,476,673 | $101.9M | Add +42.6% |
| IVW iShares S&P 500 Growth ETF | 0.18% | 914,023 | $100.6M | Add +0.7% |
| VZ Verizon Communications Inc. | 0.18% | 2,307,034 | $99.8M | Reduce -1.8% |
| MRK Merck & Co. Inc. | 0.17% | 1,247,166 | $98.7M | Reduce -13.3% |
Other holdings (5): bonds, preferreds, convertibles and warrants · $7.6M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 5,270 | $6.2M | Add +2.6% |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 871 | $1.1M | Add +2.1% |
| FLDDW Fold Holdings Inc. -23 | *W EXP 02/14/203 | 255,994 | $182K | Reduce -36.2% |
| ISLWF Israel Acquisitions Corp.-28 | *W EXP 99/99/999 | 500,000 | $111K | No change |
| ABLLW East Resources Acquis -CW27 | *W EXP 06/30/202 | 63,896 | $72K | Reduce -78.3% |
Total filed on the 13F, all lines: $57.0B.
Portfolio Sells Q1 2025 → Q2 2025
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.4% | 2.08% | −0.43 |
| UNH Unitedhealth Group Inc. | Reduce -60.6% | 0.09% | −0.35 |
| ORLY O'reilly Automotive Inc. | Reduce -13.9% | 0.94% | −0.33 |
| FAST Fastenal Co. | Reduce -14.6% | 1.06% | −0.20 |
| ABBV Abbvie Inc. | Reduce -1.8% | 0.65% | −0.17 |
| CVX Chevron Corp. | Reduce -5.5% | 0.40% | −0.14 |
| UNP Union Pacific Corp. | Reduce -3.7% | 0.77% | −0.13 |
| PG The Procter & Gamble Co. | Reduce -3.5% | 0.46% | −0.10 |
| IJR iShares Core S&P Small-Cap E | Reduce -3.3% | 1.05% | −0.09 |
| CPRT Copart Inc. | Reduce -27.4% | 0.12% | −0.09 |
| ITW Illinois Tool Works | Reduce -31.7% | 0.13% | −0.08 |
| MRK Merck & Co. Inc. | Reduce -13.3% | 0.17% | −0.08 |
| BF.A Brown-Forman Corp. Class A | Reduce -86.5% | 0.01% | −0.07 |
| MANH Manhattan Associates Inc. | Reduce -99.1% | 0.00% | −0.07 |
| USB US Bancorp | Reduce -26.5% | 0.17% | −0.07 |
| TMO Thermo Fisher Scientific Inc. | Reduce -6.1% | 0.14% | −0.06 |
| IAU iShares Gold Trust | Reduce -26.7% | 0.15% | −0.06 |
| XOM Exxon Mobil Corp. | Reduce -2.1% | 0.25% | −0.06 |
| TGT Target Corp. | Reduce -48.5% | 0.05% | −0.06 |
| COST Costco Wholesale Corp. | Reduce -0.6% | 1.04% | −0.06 |
| PEP Pepsico Inc. | Reduce -0.8% | 0.22% | −0.06 |
| FND Floor & Decor Holdings Inc. Class A | Reduce -98.6% | 0.00% | −0.05 |
| SBUX Starbucks Corp. | Reduce -6.8% | 0.20% | −0.05 |
| UPS United Parcel Service Class B | Reduce -19.3% | 0.11% | −0.05 |
| MCD McDonald's Corp. | Reduce -0.7% | 0.28% | −0.05 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -6.0% | 0.79% | −0.05 |
| AMGN Amgen Inc. | Reduce -8.0% | 0.14% | −0.05 |
| CAT Caterpillar Inc. | Reduce -22.3% | 0.21% | −0.04 |
| QCOM Qualcomm Inc. | Reduce -13.8% | 0.18% | −0.04 |
| PAYX Paychex Inc. | Reduce -2.7% | 0.21% | −0.04 |
| SPSB SS SPDR P St C Corp. ETF | Reduce -7.9% | 0.20% | −0.04 |
| MCHP Microchip Technology Inc. | Reduce -79.8% | 0.01% | −0.04 |
| PFE Pfizer Inc. | Reduce -14.5% | 0.10% | −0.03 |
| SGI Somnigroup International Inc. | Reduce -93.4% | 0.00% | −0.03 |
| EOG EOG Resources Inc. | Reduce -8.3% | 0.12% | −0.03 |
| IBM Intl Business Machines Corp. | Reduce -19.8% | 0.21% | −0.03 |
| COWZ Pacer US Cash Cows 100 ETF | Reduce -14.6% | 0.11% | −0.03 |
| ACN Accenture PLC Class A | Reduce -1.7% | 0.19% | −0.03 |
| VZ Verizon Communications Inc. | Reduce -1.8% | 0.18% | −0.03 |
| CSCO Cisco Systems Inc. | Reduce -9.8% | 0.35% | −0.03 |
| CHDN Churchill Downs Inc. | Reduce -6.1% | 0.10% | −0.03 |
| JAAA Janus Henderson Aaa Clo ETF | Reduce -35.5% | 0.04% | −0.03 |
| FANG Diamondback Energy Inc. | Reduce -9.8% | 0.07% | −0.03 |
| TSCO Tractor Supply Company | Reduce -13.3% | 0.09% | −0.03 |
| CMC Commercial Metals Co. | Reduce -93.8% | 0.00% | −0.03 |
| GLOB Globant SA | Reduce -15.5% | 0.04% | −0.03 |
| BR Broadridge Financial Solutio | Reduce -3.7% | 0.19% | −0.03 |
| DUK Duke Energy Corp. | Reduce -6.5% | 0.12% | −0.03 |
| IHDG Wisdomtree International Hed | Reduce -65.3% | 0.01% | −0.03 |
| VTEB Vanguard Tax-Exempt Bond ETF | Reduce -6.7% | 0.13% | −0.03 |
Portfolio Buys Q1 2025 → Q2 2025
| MSFT Microsoft Corp. | Add +0.2% | 4.79% | +0.83 |
| AMZN Amazon.com Inc. | Add +55.9% | 1.56% | +0.61 |
| META Meta Platforms Inc. Class A | Add +9.0% | 1.98% | +0.42 |
| IWF iShares Russell 1000 Growth | Add +15.8% | 2.03% | +0.39 |
| NVDA Nvidia Corp. | Add +4.2% | 1.36% | +0.38 |
| AVGO Broadcom Inc. | Add +0.8% | 0.99% | +0.34 |
| JPM JPMorgan Chase & Co. | Add +2.5% | 3.18% | +0.30 |
| GE General Electric | Add +6.0% | 1.44% | +0.28 |
| DIS The Walt Disney Co. | Add +4.8% | 0.97% | +0.16 |
| SCHW Schwab (charles) Corp. | Add +5.7% | 1.17% | +0.13 |
| GOOG Alphabet Inc. Class C | Add +2.5% | 2.04% | +0.12 |
| TSM Taiwan Semiconductor-SP ADR | Add +16.2% | 0.34% | +0.10 |
| TEL Te Connectivity PLC | Add +5.0% | 0.82% | +0.10 |
| IWD iShares Russell 1000 Value E | Add +12.7% | 1.80% | +0.10 |
| PH Parker Hannifin Corp. | Add +5.1% | 1.09% | +0.10 |
| HLT Hilton Worldwide Holdings Inc. | Add +12935.7% | 0.08% | +0.08 |
| DHR Danaher Corp. | Add +28.1% | 0.64% | +0.07 |
| CAVA Cava Group Inc. | Add +1209.8% | 0.07% | +0.07 |
| ELF Elf Beauty Inc. | New | 0.06% | +0.06 |
| RYAAY Ryanair Holdings PLC-SP ADR | Add +43.1% | 0.14% | +0.06 |
| ORCL Oracle Corp. | Add +2.4% | 0.19% | +0.06 |
| LYV Live Nation Entertainment Inc. | Add +127.8% | 0.10% | +0.06 |
| APH Amphenol Corp. Class A | Add +6.5% | 0.18% | +0.06 |
| CP Canadian Pacific Kansas City | Add +86.8% | 0.12% | +0.06 |
| ETN Eaton Corp. PLC | Add +8.8% | 0.23% | +0.05 |
| UBER Uber Technologies Inc. | Add +118.8% | 0.09% | +0.05 |
| ASML ASML Holding NV-NY Reg SHS | Add +16.8% | 0.22% | +0.05 |
| VCIT Vanguard Int-Term Corporate | Add +18.2% | 0.56% | +0.05 |
| PLTR Palantir Technologies Inc. Class A | Add +23.5% | 0.10% | +0.05 |
| VGSH Vanguard Short-Term Treasury | Add +18.5% | 0.59% | +0.04 |
| BEPC Brookfield Renewable Corp. | Add +30.3% | 0.15% | +0.04 |
| LRCX Lam Research Corp. | Add +28.6% | 0.11% | +0.04 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +42.6% | 0.18% | +0.04 |
| INTU Intuit Inc. | Add +14.8% | 0.15% | +0.04 |
| VWO Vanguard Ftse Emerging Marke | Add +9.3% | 0.44% | +0.04 |
| USHY iShares Broad Usd High Yield | Add +206.7% | 0.06% | +0.04 |
| SE Sea Ltd.-ADR | Add +14.4% | 0.16% | +0.03 |
| NFLX Netflix Inc. | Add +2.0% | 0.13% | +0.03 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +1.9% | 0.36% | +0.03 |
| SPOT Spotify Technology SA | Add +60.0% | 0.06% | +0.03 |
| WFC Wells Fargo & Co. | Add +4.3% | 0.55% | +0.03 |
| HDB HDFC Bank Ltd.-ADR | Add +17.9% | 0.16% | +0.03 |
| CGGR Cap Group Growth Equity | Add +21.7% | 0.13% | +0.03 |
| VRT Vertiv Holdings Co. Class A | Add +7.7% | 0.07% | +0.03 |
| VEU Vanguard Ftse All-World Ex-U | Add +8.2% | 0.34% | +0.03 |
| ISRG Intuitive Surgical Inc. | Add +35.6% | 0.11% | +0.03 |
| MSI Motorola Solutions Inc. | Add +81.3% | 0.08% | +0.03 |
| PVAL Putnam Focused LRG Cap Value | New | 0.03% | +0.03 |
| VB Vanguard Most SM-Cap ETF-Usd | Add +11.3% | 0.32% | +0.02 |
| MU Micron Technology Inc. | Add +42.2% | 0.05% | +0.02 |
Notes & Other Activity Q1 2025 → Q2 2025
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Add +2.6% | 5,270 | $6.2M |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Add +2.1% | 871 | $1.1M |
| FLDDW Fold Holdings Inc. -23 | *W EXP 02/14/203 | Reduce -36.2% | 255,994 | $182K |
| ABLLW East Resources Acquis -CW27 | *W EXP 06/30/202 | Reduce -78.3% | 63,896 | $72K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,918 | $72.7B | AAPL, JPM, GOOG, MSFT, GEV |
| Q1 2026 | 1,821 | $64.0B | AAPL, MSFT, JPM, GOOG, VEA |
| Q4 2025 | 1,782 | $64.1B | MSFT, AAPL, JPM, GOOG, BRK.B |
| Q3 2025 | 1,788 | $62.2B | MSFT, AAPL, JPM, GOOG, IWF |
| Q2 2025 | 1,760 | $57.0B | MSFT, AAPL, JPM, BRK.B, GOOG |
| Q1 2025 | 1,748 | $51.9B | AAPL, MSFT, JPM, BRK.B, GOOG |
| Q4 2024 | 1,743 | $52.3B | AAPL, MSFT, JPM, GOOG, BRK.B |
| Q3 2024 | 1,742 | $51.5B | MSFT, AAPL, JPM, BRK.B, GOOG |
| Q2 2024 | 1,749 | $48.2B | MSFT, AAPL, JPM, GOOG, BRK.B |
| Q1 2024 | 1,746 | $47.7B | MSFT, AAPL, JPM, BRK.B, HD |