BI
Bailard, Inc. — 13F Portfolio Report & Top Holdings (Q3 2026)
Bailard, Inc.CIK: 0000750641
Diversified strategyMomentum followerSector-focused
Total reported value
$4.9B
Reporting period: 2026-09-30 · Number of holdings: 746
BAILARD, INC. disclosed 746 holdings in its latest 13F filing for the period ending 2026-09-30, with total reported value of $4.9B and a quarterly turnover rate of 19.4%.
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Personality snowflake
- Concentration
- 6.34
- Portfolio Stability
- 19.43
- Momentum
- 100
- Sector conviction
- 69.84
- Diversification
- 100
- Sizing Uniformity
- 67.09
Bailard, Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.016 — mathematically equivalent to about 63 equally-sized positions, well below its 746 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 3.29), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 57% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd SPY
+47.5% $77.4M
Trim QQQ
-60.2% -$75.3M
Add MSFT
-0.2% $58.5M
Add TFLO
+903.3% $47.7M
Trim JMST
-75.4% -$44.2M
Add AAPL
-1.1% $33.2M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 746 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | AAPL | Apple Inc | Stock-Tech | 5.51% | +0.64% | -1.06% | |
| 2 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 4.66% | +1.55% | +47.55% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 4.37% | +1.17% | -0.20% | |
| 4 | NVDA | Nvidia CORP | Stock-Tech | 4.19% | +0.62% | +3.51% | |
| 5 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 3.10% | -0.15% | -0.28% | |
| 6 | EFA | Ishares Msci Eafe ETF | ETF-Other | 2.78% | +0.07% | +3.05% | |
| 7 | VGT | Vanguard Info Tech ETF | ETF-Tech | 2.23% | +0.01% | -3.81% | |
| 8 | GILD | Gilead Sciences Inc | Stock-Healthcare | 2.22% | +0.33% | +0.01% | |
| 9 | IWN | Ishares Russell 2000 Value E | ETF-Small Cap | 2.09% | -0.10% | +1.43% | |
| 10 | IEFA | Ishares Core Msci Eafe ETF | ETF-Other | 1.60% | +0.01% | +0.66% | |
| 11 | JMTG | Mortgage-backed Securities | ETF-Other | 1.50% | -0.06% | +1.35% | |
| 12 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 1.48% | +0.01% | -0.45% | |
| 13 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 1.36% | +0.07% | +1.59% | |
| 14 | VBR | Vanguard Small-cap Value ETF | ETF-Other | 1.21% | -0.06% | +0.77% | |
| 15 | V | Visa Inc-class A Shares | Stock-Financials | 1.13% | +0.07% | +2.21% | |
| 16 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 1.08% | -0.07% | -0.68% | |
| 17 | CMF | Ishares California Muni Bond | ETF-Other | 1.08% | -0.34% | -18.81% | |
| 18 | TFLO | Ishares Treasury Floating Ra | ETF-Gov Bonds | 1.07% | +0.96% | +903.31% | |
| 19 | PANW | Palo Alto Networks Inc | Stock-Tech | 1.05% | +0.16% | +2.26% | |
| 20 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 1.03% | -0.02% | -3.35% | |
| 21 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 1.02% | -1.54% | -60.20% | |
| 22 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.01% | — | +0.05% | |
| 23 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 0.93% | +0.01% | +0.32% | |
| 24 | VEU | Vanguard Ftse All-world Ex-u | ETF-Other | 0.92% | -0.01% | +0.34% | |
| 25 | AVGO | Broadcom Inc | Stock-Tech | 0.91% | -0.07% | +1.11% | |
| 26 | XLK | Ss Technology Select Sector | ETF-Tech | 0.90% | — | -2.14% | |
| 27 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.86% | +0.18% | -0.87% | |
| 28 | GOVT | Ishares US Treasury Bond ETF | ETF-Gov Bonds | 0.81% | -0.01% | +3.32% | |
| 29 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.79% | +0.03% | -0.61% | |
| 30 | KLAC | Kla CORP | Stock-Tech | 0.75% | -0.44% | -1.66% | |
| 31 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.73% | -0.03% | -0.67% | |
| 32 | MS | Morgan Stanley | Stock-Financials | 0.71% | -0.10% | -0.99% | |
| 33 | JMUB | Jpmorgan Municipal ETF | ETF-Other | 0.70% | +0.03% | +11.19% | |
| 34 | IJS | Ishares S&p Small-cap 600 Va | ETF-Other | 0.68% | -0.06% | -1.15% | |
| 35 | GLD | Spdr Gold Shares | ETF-Commodities | 0.67% | -0.13% | -18.60% | |
| 36 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.64% | -0.04% | -0.95% | |
| 37 | CMI | Cummins Inc | Stock-Industrials | 0.60% | -0.24% | -0.18% | |
| 38 | BLK | Blackrock Inc | Stock-Financials | 0.56% | +0.04% | +0.01% | |
| 39 | TT | Trane Technologies plc | Stock-Industrials | 0.55% | -0.05% | +0.14% | |
| 40 | TJX | Tjx Companies Inc | Stock-Consumer Disc | 0.53% | -0.09% | -1.08% | |
| 41 | HD | Home Depot Inc | Stock-Consumer Disc | 0.51% | -0.13% | -0.22% | |
| 42 | STLD | Steel Dynamics Inc | Stock-Materials | 0.51% | -0.03% | -1.59% | |
| 43 | AMD | Advanced Micro Devices | Stock-Tech | 0.50% | +0.04% | +4.67% | |
| 44 | ETN | Eaton Corporation plc | Stock-Industrials | 0.49% | -0.01% | -0.61% | |
| 45 | P | Everpure Inc-a | Stock-Tech | 0.49% | +0.19% | -1.09% | |
| 46 | CVX | Chevron CORP | Stock-Energy | 0.48% | +0.09% | -0.79% | |
| 47 | MU | Micron Technology Inc | Stock-Tech | 0.45% | -0.04% | -1.18% | |
| 48 | IGM | Ishares Expanded Tech Sector | ETF-Tech | 0.44% | — | -1.82% | |
| 49 | IJH | Ishares Core S&p Midcap ETF | ETF-Other | 0.44% | -0.04% | -0.68% | |
| 50 | VEA | Vanguard Ftse Developed ETF | ETF-Other | 0.44% | -0.01% | -1.51% |
1–50 of 200
Portfolio Performance
Performance for Q4 2026
+3.5%
Performance Last 4 Quarters
+14.3%
- Stdev
- +10.8%
- Beta
- +0.87
- Alpha
- -0.9%
- Max Drawdown
- -6.5%
- Annualized Perf
- +20.1%
- Batting Avg vs S&P
- +33.3%
- Sortino
- +3.73
- Stutzer
- +0.51
- Treynor
- +0.22
- Sterling
- +1.32
- Calmar
- +3.07
- Information Ratio
- -1.45
- Tracking Error
- +2.7%
- Stdev Down
- +5.1%
- Winning Months %
- +75%
- Losing Months %
- +25%
- Best 12 Months
- +28.3%
- Worst 12 Months
- +4.9%
- Efficiency Ratio
- +0.73
- Sharpe
- +1.76
- Stdev Sectors
- +11.4%
- Skewness
- -0.03
- Kurtosis
- +0.3
- Upside Potential
- +5.14
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q3 | 746 | $4.9B | 19 | ||
| 2026 Q2 | 763 | $4.9B | 29 | ||
| 2026 Q1 | 736 | $4.4B | 21 | ||
| 2025 Q4 | 744 | $4.5B | 15 | ||
| 2025 Q3 | 777 | $4.6B | 35 | ||
| 2025 Q2 | 754 | $4.3B | 0 | ||
| 2025 Q1 | 735 | $3.9B | 100 | ||
| 2024 Q4 | 725 | $3.9B | 0 | ||
| 2024 Q3 | 734 | $3.8B | 0 | ||
| 2024 Q2 | 722 | $3.6B | 0 | ||
| 2024 Q1 | 731 | $3.6B | 0 | ||
| 2023 Q4 | 703 | $3.4B | 0 | ||
| 2023 Q3 | 694 | $3.0B | 0 | ||
| 2023 Q2 | 683 | $2.9B | 0 | ||
| 2023 Q1 | 710 | $2.8B | 0 | ||
| 2022 Q4 | 701 | $2.6B | 0 | ||
| 2022 Q3 | 660 | $2.4B | 0 | ||
| 2022 Q2 | 678 | $2.5B | 0 | ||
| 2022 Q1 | 715 | $3.0B | 0 | ||
| 2021 Q4 | 712 | $3.1B | 0 | ||
| 2021 Q3 | 698 | $2.9B | 0 | ||
| 2021 Q2 | 700 | $2.9B | 96 | ||
| 2021 Q1 | 687 | $2.7B | 28 | ||
| 2020 Q4 | 623 | $2.2B | 26 | ||
| 2020 Q3 | 550 | $1.9B | 23 | ||
| 2020 Q2 | 500 | $1.8B | 31 | ||
| 2020 Q1 | 446 | $1.4B | 59 | ||
| 2019 Q4 | 537 | $1.8B | 35 | ||
| 2019 Q3 | 528 | $1.7B | 33 | ||
| 2019 Q2 | 539 | $1.6B | 33 | ||
| 2019 Q1 | 539 | $1.6B | 36 | ||
| 2018 Q4 | 488 | $1.5B | 51 | ||
| 2018 Q3 | 526 | $1.7B | 27 | ||
| 2018 Q2 | 510 | $1.7B | 33 | ||
| 2018 Q1 | 475 | $1.6B | 29 | ||
| 2017 Q4 | 429 | $1.6B | 100 | ||
| 2017 Q3 | 298 | $1.3B | 0 | ||
| 2017 Q2 | 270 | $1.2B | 0 | ||
| 2017 Q1 | 290 | $1.2B | 0 | ||
| 2016 Q4 | 297 | $1.1B | 0 | ||
| 2016 Q3 | 313 | $1.1B | 0 | ||
| 2016 Q2 | 294 | $839.2M | 0 | ||
| 2016 Q1 | 248 | $715.9M | 100 | ||
| 2015 Q4 | 199 | $226.0M | 0 | ||
| 2015 Q3 | 239 | $636.4M | 99 | ||
| 2015 Q2 | 239 | $645.9M | 0 | ||
| 2015 Q1 | 233 | $720.2M | 0 | ||
| 2014 Q4 | 231 | $706.5M | 41 | ||
| 2014 Q3 | 233 | $651.7M | 58 | ||
| 2014 Q2 | 235 | $650.1M | 54 | ||
| 2014 Q1 | 215 | $630.5M | 52 | ||
| 2013 Q4 | 224 | $620.2M | 55 | ||
| 2013 Q3 | 214 | $526.5M | 76 | ||
| 2013 Q2 | 185 | $549.6M | 0 |
Holding changes this quarter
Bailard, Inc.'s most significant position changes for 2026-09-30: New buy: ; Sold out: Exxon Mobil CORP (XOM); Sold out: Sunbelt Rentals Holdings Inc (SUNB); Sold out: Janus Henderson Group plc (JHG); Sold out: Nutrien LTD (NTR).
Showing top 200 changes by size (of 860 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SPY | Ss Spdr S&p 500 ETF Trust-us | +1.6% | +47.55% | Add |
| 2 | MSFT | Microsoft CORP | +1.2% | -0.20% | Trim |
| 3 | TFLO | Ishares Treasury Floating Ra | +1% | +903.31% | Add |
| 4 | AAPL | Apple Inc | +0.6% | -1.06% | Trim |
| 5 | NVDA | Nvidia CORP | +0.6% | +3.51% | Add |
| 6 | GILD | Gilead Sciences Inc | +0.3% | +0.01% | Add |
| 7 | VTEC | Vanguard Ca Tax-ex Bond | +0.3% | +686.56% | Add |
| 8 | IEF | Ishares 7-10 Year Treasury B | +0.2% | +146.25% | Add |
| 9 | P | Everpure Inc-a | +0.2% | -1.09% | Trim |
| 10 | META | Meta Platforms Inc-class A | +0.2% | -0.87% | Trim |
| 11 | PANW | Palo Alto Networks Inc | +0.2% | +2.26% | Add |
| 12 | ✓ | +0.1% | NEW | New buy | |
| 13 | VLO | Valero Energy CORP | +0.1% | -2.30% | Trim |
| 14 | MUNI | Pimco Intermediate Municipal | +0.1% | +70.36% | Add |
| 15 | NOW | Servicenow Inc | +0.1% | -1.46% | Trim |
| 16 | SPTI | Ss Spdr P Int Term Tsy ETF | +0.1% | +102.64% | Add |
| 17 | CVX | Chevron CORP | +0.1% | -0.79% | Trim |
| 18 | ACN | Accenture plc | +0.1% | +8.86% | Add |
| 19 | EFA | Ishares Msci Eafe ETF | +0.1% | +3.05% | Add |
| 20 | AMZN | Amazon.com Inc | +0.1% | +1.59% | Add |
| 21 | CALI | Ishrs Sh-trm Ca Muni Act ETF | +0.1% | +128.94% | Add |
| 22 | V | Visa Inc-class A Shares | +0.1% | +2.21% | Add |
| 23 | COP | Conocophillips | +0.1% | -0.50% | Trim |
| 24 | CRWD | Crowdstrike Holdings Inc - A | +0.1% | +280.18% | Add |
| 25 | ANET | Arista Networks Inc | +0.1% | +2.77% | Add |
| 26 | SPOT | Spotify Technology S.A. | +0.1% | +15.47% | Add |
| 27 | TEAM | Atlassian Corp-cl A | +0.1% | +414.28% | Add |
| 28 | AMGN | Amgen Inc | +0.1% | -0.83% | Trim |
| 29 | AIZ | Assurant Inc | +0.1% | NEW | New buy |
| 30 | BLK | Blackrock Inc | 0% | +0.01% | Add |
| 31 | TMUS | T-mobile US Inc | 0% | +762.94% | Add |
| 32 | AMD | Advanced Micro Devices | 0% | +4.67% | Add |
| 33 | CRM | Salesforce Inc | 0% | +22.52% | Add |
| 34 | BWA | Borgwarner Inc | 0% | +224.80% | Add |
| 35 | ADP | Automatic Data Processing | 0% | +19.27% | Add |
| 36 | DHR | Danaher CORP | 0% | -3.07% | Trim |
| 37 | KO | The Coca-Cola Company | 0% | +73.12% | Add |
| 38 | BIL | Ss Spdr Bb 1-3m T-bill ETF | 0% | +44.14% | Add |
| 39 | GEV | GE Vernova Inc | 0% | +130.37% | Add |
| 40 | NSIT | Insight Enterprises Inc | 0% | +59.26% | Add |
| 41 | MPC | Marathon Petroleum CORP | 0% | -1.69% | Trim |
| 42 | JMUB | Jpmorgan Municipal ETF | 0% | +11.19% | Add |
| 43 | JNJ | Johnson & Johnson | 0% | -0.61% | Trim |
| 44 | SHOP | Shopify Inc - Class A | 0% | — | Unchanged |
| 45 | IBTH | Ishares Ibonds Dec 2027 Term | 0% | NEW | New buy |
| 46 | TMO | Thermo Fisher Scientific Inc | 0% | +1.69% | Add |
| 47 | GTX | Garrett Motion Inc | 0% | NEW | New buy |
| 48 | SBRA | Sabra Health Care Reit Inc | 0% | NEW | New buy |
| 49 | FSLR | First Solar Inc | 0% | NEW | New buy |
| 50 | SAP | Sap Se-sponsored Adr | 0% | +8.90% | Add |
1–50 of 200
Filing History
FAQ
What is Bailard, Inc. and what type of investor is it?
Bailard, Inc. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-09-30), the firm manages a tracked equity portfolio valued at approximately $4.9B, spread across 746 disclosed positions.
What are Bailard, Inc.'s largest equity positions?
Based on the latest 13F filing, Bailard, Inc.'s top holdings by market value are:
1. Apple Inc (AAPL) — $272.3M (5.5%)
2. Ss Spdr S&p 500 ETF Trust-us (SPY) — $230.1M (4.7%)
3. Microsoft CORP (MSFT) — $215.8M (4.4%)
4. Nvidia CORP (NVDA) — $207.1M (4.2%)
5. Alphabet Inc-cl A (GOOGL) — $153.3M (3.1%)
What changes did Bailard, Inc. make in its most recent portfolio filing?
In the latest reported quarter, Bailard, Inc. made 197 notable position adjustments: 17 new positions were initiated, 59 existing holdings were added to, 86 positions were partially reduced, and 35 were completely exited. The largest of these moves: New buy: ; Sold out: Exxon Mobil CORP (XOM); Sold out: Sunbelt Rentals Holdings Inc (SUNB); Sold out: Janus Henderson Group plc (JHG); Sold out: Nutrien LTD (NTR)
What sectors does Bailard, Inc. focus on?
Bailard, Inc. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 42.9%
• Health Care: 11.6%
• Financials: 11.4%
• Communication Services: 10.2%
• Industrials: 7.1%
• Consumer Discretionary: 6.4%
Investment Profile
Bailard, Inc. returned an annualized 20.1% over the trailing 36 months — underperforming the S&P 500 by 0.9 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.87 (less volatile than the market) and a 33% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding, with 42.9% of the portfolio concentrated in Information Technology.
Its turnover score has fallen from 35 to 19 over the past 4 quarters — a shift toward longer holding periods.
It has added to its SPY position over the past two quarters (+$99.0M, now $230.1M), while trimming GLD over the same stretch (-$93.8M, still holding $33.2M).
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Developer Access
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