Baird Financial Group, Inc.

Private Equity

Baird Financial Group, Inc. is a Private Equity based in Milwaukee, WI led by Paul Lee Schultz, managing $62.1B across 1,784 long positions as of Q3 2025 with MSFT as the largest holding (5% allocation).

General CounselPaul Lee Schultz

Portfolio Value: $62.1B
Positions: 1,784
Top Holding: MSFT at 4.64%
Last Reported: Q3 2025

Address777 E. Wisconsin Avenue, Milwaukee, WI, 53202, United States

Top Holdings

Largest long holdings in Baird Financial Group, Inc.'s portfolio (25.9% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Microsoft MSFT	Software - Infrastructure Technology	$2.9B	4.64%	+$43.0M Bought	0.07% 5.6M shares	Q2 2015 Held for 10y 6m
2 Apple AAPL	Consumer Electronics Technology	$2.5B	3.99%	+$31.0M Bought	0.07% 9.7M shares	Q2 2015 Held for 10y 6m
3 JPMorgan Chase JPM	Banks - Diversified Financial Services	$2.0B	3.27%	+$55.4M Bought	0.23% 6.4M shares	Q2 2015 Held for 10y 6m
4 Alphabet Inc. GOOG	Internet Content & Information Communication Services	$1.6B	2.62%	+$30.3M Bought	0.06% 6.7M shares	Q2 2015 Held for 10y 6m
5 iShares Russell 1000 Growth IWF	ETF ETF	$1.3B	2.08%	+$14.7M Bought	— 2.8M shares	Q2 2015 Held for 10y 6m
6 Berkshire Hathaway BRK.B	Insurance - Diversified Financial Services	$1.3B	2.03%	+$35.2M Bought	0.12% 2.5M shares	Q4 2019 Held for 6 years
7 Meta Platforms, Inc. META	Internet Content & Information Communication Services	$1.2B	1.86%	+$33.5M Bought	0.06% 1.6M shares	Q2 2015 Held for 10y 6m
8 iShares Russell 1000 Value IWD	ETF ETF	$1.1B	1.84%	+$69.9M Bought	— 5.6M shares	Q2 2015 Held for 10y 6m
9 Home Depot HD	Home Improvement Consumer Cyclical	$1.1B	1.81%	+$34.7M Bought	0.28% 2.8M shares	Q2 2015 Held for 10y 6m
10 Vanguard FTSE Developed Markets VEA	ETF ETF	$1.1B	1.78%	+$78.1M Bought	— 18.5M shares	Q2 2015 Held for 10y 6m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Baird Financial Group, Inc.'s latest filing

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Market Value

$62.1B

Prior: $57.0B

Q/Q Change

+9.04%

+$5.1B

Net Flows % of MV

+1.29%

Turnover Ratio

3.44%

New Purchases

50 stocks

$51.6M

Added To

814 stocks

+$2.4B

Sold Out Of

80 stocks

$264.4M

Reduced Holdings

781 stocks

-$1.4B

Increased Positions

Position	Shares Δ	Change
1 ePlus PLUS	New	0 → 96.5K +$6.9M
2 Extreme Networks EXTR	New	0 → 229.7K +$4.7M
3 Joby Aviation JOBY	New	0 → 269.2K +$4.3M
4 JPIE JPMorgan Income JPIE	New	0 → 86.4K +$4.0M
5 Fidelity Enhanced Small Cap ETF FESM	New	0 → 107.7K +$3.9M

Decreased Positions

Position	Shares Δ	Change
1 Fiserv FI	Sold	820.8K → 0 −$141.5M
2 HubSpot HUBS	Sold	63.0K → 0 −$35.1M
3 Globant GLOB	Sold	253.8K → 0 −$23.1M
4 Alamos Gold Inc. AGI	Sold	212.8K → 0 −$5.7M
5 Universal Technical Institute UTI	Sold	140.8K → 0 −$4.8M

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Analytics

Portfolio insights and performance metrics for Baird Financial Group, Inc.

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Sector Allocation

ETF

27.30%

Technology

17.40%

Financial Services

13.20%

Industrials

9.60%

Consumer Cyclical

7.90%

Communication Services

7.40%

Healthcare

5.80%

Consumer Defensive

2.70%

Utilities

2.50%

Energy

1.30%

Basic Materials

1.20%

Real Estate

0.50%

Market Cap Distribution

Mega Cap (> $200B)

38.06%

Large Cap ($10B - $200B)

28.50%

Mid Cap ($2B - $10B)

2.45%

Small Cap ($300M - $2B)

0.16%

Micro Cap ($50M - $300M)

0.02%

Nano Cap (< $50M)

0.28%

N/A (ETF or Unknown)

30.52%

Portfolio Concentration

Top 10 Holdings %

25.92%

Top 20 Holdings %

39.68%

Top 50 Holdings %

60.22%

Top 100 Holdings %

72.3%