Baird Financial Group, Inc.

New 13F: Q3 2026

Baird Financial Group, Inc. filed its 13F for the quarter ended Sep 30, 2026 on Nov 13, 2026: $20.4B in AI and semiconductor stocks; $432.4M bought and $549.5M sold against its previous quarter, at the quarter's prices.

• trimmed Apple (AAPL): -$223.7M at the quarter's price
• added to Microsoft (MSFT): +$84.9M at the quarter's price
• added to Lumentum (LITE): +$31.8M at the quarter's price
• added to Palantir (PLTR): +$27.7M at the quarter's price
• trimmed Broadcom (AVGO): -$21.8M at the quarter's price
• added to Bloom Energy (BE): +$21.7M at the quarter's price
• added to Tempus AI (TEM): +$21.4M at the quarter's price
• added to ServiceNow (NOW): +$20.7M at the quarter's price
• added to CrowdStrike (CRWD): +$20.4M at the quarter's price
• added to Applied Optoelectronics (AAOI): +$19.7M at the quarter's price

Baird Financial Group, Inc. declares $19.6B in 147 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 27.0% of its $72.7B 13F portfolio. Largest positions: Apple (0.07% of the company) and Alphabet (0.07% of the company). It is a private wealth platform: it holds shares for many client accounts, so its trades are left out of the quarter's moves on /holders. Over time: $19.6B in 147 of these companies for Q2 2026, against $4.8B in 82 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $510.6M and sold $547.0M of these stocks, at the quarter's prices: a net sale of $36.4M; 20 new positions.

Performance of its AI picks

The AI-stock portfolio Baird Financial Group, Inc. declared for Q2 2026 (Form 13F), held unchanged, returned +4.9% in Q3 2026 (SMH -7.1%). Over the last 12 months, quarter after quarter: +26.3% (SMH +87.2%). Over three years, quarter after quarter: +136.2% (SMH +325.8%). Over five years, quarter after quarter: +147.4% (SMH +389.8%). Trades made during a quarter are not visible in 13F filings: this measures its declared picks, not the return of its funds.

Largest positions

1. Apple (AAPL): $2.9B, 10.2M shares, 0.07% of the company, 4.0% of its portfolio (added this quarter); held since Q4 2019 or earlier
2. Alphabet (GOOGL): $2.9B, 8.2M shares, 0.07% of the company, 4.0% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
3. Microsoft (MSFT): $2.2B, 5.8M shares, 0.08% of the company, 3.0% of its portfolio (added this quarter); held since Q4 2019 or earlier
4. GE Vernova (GEV): $1.6B, 1.4M shares, 0.53% of the company, 2.3% of its portfolio (added this quarter); held since Q2 2024
5. Amazon (AMZN): $1.4B, 5.7M shares, 0.05% of the company, 1.9% of its portfolio (added this quarter); held since Q4 2019 or earlier
6. NVIDIA (NVDA): $1.0B, 5.0M shares, 0.02% of the company, 1.4% of its portfolio (added this quarter); held since Q4 2019 or earlier
7. Meta Platforms (META): $958.3M, 1.7M shares, 0.07% of the company, 1.3% of its portfolio (added this quarter); held since Q4 2019 or earlier
8. Broadcom (AVGO): $760.8M, 2.0M shares, 0.04% of the company, 1.0% of its portfolio (added this quarter); held since Q4 2019 or earlier
9. TE Connectivity (TEL): $652.8M, 3.2M shares, 1.1% of the company, 0.90% of its portfolio (added this quarter); held since Q4 2019 or earlier
10. TSMC (TSM): $451.4M, 945,101 shares, 0.02% of the company, 0.62% of its portfolio (added this quarter); held since Q4 2019 or earlier
11. Caterpillar (CAT): $319.9M, 300,443 shares, 0.07% of the company, 0.44% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
12. Cisco (CSCO): $310.4M, 2.6M shares, 0.07% of the company, 0.43% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
13. Amphenol (APH): $255.1M, 2.9M shares, 0.12% of the company, 0.35% of its portfolio (added this quarter); held since Q3 2020
14. Micron (MU): $252.5M, 218,749 shares, 0.02% of the company, 0.35% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
15. ASML (ASML): $251.6M, 126,484 shares, 0.03% of the company, 0.35% of its portfolio (added this quarter); held since Q4 2019 or earlier

By sector

• Cloud & AI giants: $10.4B, 53% of its AI holdings, 6 companies
• Chips & compute: $3.0B, 15% of its AI holdings, 20 companies
• Power, electrical & cooling: $2.9B, 15% of its AI holdings, 41 companies
• Interconnect: $1.3B, 7% of its AI holdings, 9 companies
• Equipment & test: $755.9M, 4% of its AI holdings, 15 companies
• AI software: $550.5M, 3% of its AI holdings, 22 companies
• Memory & storage: $314.4M, 2% of its AI holdings, 6 companies
• Servers & systems: $228.4M, 1% of its AI holdings, 10 companies
• Optics: $111.8M, 1% of its AI holdings, 6 companies
• Neoclouds & data centers: $78.5M, 0% of its AI holdings, 12 companies

Biggest changes this quarter

• trimmed Alphabet (GOOGL): -$173.2M at the quarter's price
• trimmed Micron (MU): -$62.6M at the quarter's price
• added to Amazon (AMZN): +$58.8M at the quarter's price
• added to Apple (AAPL): +$46.9M at the quarter's price
• added to Amphenol (APH): +$45.8M at the quarter's price
• trimmed Qualcomm (QCOM): -$39.2M at the quarter's price
• trimmed AMD (AMD): -$37.5M at the quarter's price
• added to GE Vernova (GEV): +$35.6M at the quarter's price
• added to Corning (GLW): +$34.1M at the quarter's price
• trimmed Amkor (AMKR): -$33.1M at the quarter's price

Other holders of this size

• Allspring Global Investments Holdings, LLC: $19.5B in 168 of these companies
• Point72: $19.6B in 128 of these companies
• Situational Awareness LP: $19.5B in 18 of these companies
• Bank Julius Baer & Co. Ltd, Zurich: $19.8B in 108 of these companies
• Rockefeller Capital Management L.P.: $19.4B in 217 of these companies
• Chevy Chase Trust Holdings, LLC: $19.8B in 98 of these companies
• STATE OF WISCONSIN INVESTMENT BOARD: $19.2B in 198 of these companies
• Cerity Partners LLC: $19.9B in 190 of these companies

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