Country Indices Flash Report – September 2025
The Federal Reserve cut its benchmark rate for the first time this year, joining other central banks in the global easing cycle. Gold surged to a record $3,800/oz, up 45% year to date, as rate cuts, political uncertainty, and rising debt levels bolster its appeal. [Read more…]
West Willows Technology Center
West Willows Technology Center is a three-building, two-story R&D and data center facility totaling 155,830 square feet, located in Redmond, WA. Fully leased to AT&T through August 2027, the Property sits on 8.86 acres directly south of the Sammamish Substation. The campus features robust infrastructure, advanced cooling and electrical systems, and multiple fiber providers with direct access to long-haul West Coast networks and trans-Pacific subsea cables.
Bailard Recognized Among Barron’s Top 100 RIA Firms
Independent firm stands alongside the nation’s largest wealth managers.
SEPTEMBER 30, 2025 – Bailard, Inc. has been named to Barron’s list of the Top 100 RIA Firms for 2025, marking our fourth appearance in five years.
Unlike rankings based only on assets under management, Barron’s evaluates firms on a wide range of factors, from client retention and advisors’ experience to technology resources and charitable work.
For an independent firm like Bailard, it’s more than just another list. It shows that independence and values-driven service can stand alongside the biggest names in the industry without sacrificing the personal, values-driven approach that defines us.
“Being included in Barron’s Top 100 RIAs highlights Bailard’s ability to compete nationally while keeping our focus where it belongs, on doing right by our clients,” said Mike Faust, CFA, Bailard’s President of Wealth Management.
You can view the full Barron’s list here: https://www.barrons.com/advisor/report/top-financial-advisors/ria?
Bailard offers comprehensive wealth and asset management, with the resources of a national firm and the agility of an independent one. For us, independence isn’t just a structure. It’s the freedom to put our clients first, always.
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About Bailard, Inc.:
Founded in 1969, Bailard is an independent, values-driven firm serving individuals, families, and institutions with comprehensive wealth management and investment strategies across public and private markets. Headquartered in the San Francisco Bay Area, the woman-led, majority employee-owned firm manages over $7 billion in assets as of September 30, 2025. A Certified B Corporation™ and signatory to the UN Principles for Responsible Investing, Bailard combines deep expertise with a long-standing commitment to putting clients first.
About the Barron's Top 100 RIA Firms: These achievements do not evaluate the quality of services provided to clients and are not indicative of Bailard’s future performance. There were no fees to enter. The Barron’s Top 100 RIA Firms was announced in September 2025, 2024, 2023, and 2021 by Barron’s. Bailard ranked 92 out of 100 on the 2025 list; 88 in 2024; 99 in 2023; and 98 in 2021. Advisors who wish to be ranked complete a 102-question survey; Barron’s then verifies that data and applies its rankings formula to generate a ranking. The formula features three major categories of calculations: assets, revenue, and quality of practice with multiple sub-calculations in each. Past performance is no indication of future results. All investments have the risk of loss.
Bailard Equity Strategies Ranked by Zephyr’s PSN
Industry recognition highlights Bailard during a volatile quarter.
SAN FRANCISCO – September 15, 2025: Bailard, Inc. announced that four of its equity strategies—International, Micro Cap Value, Technology, and Technology and Science—were recognized in Zephyr’s quarterly PSN rankings for Q2 2025. The list showcases strategies that delivered notable performance amid rapidly changing market conditions.
“For us, these rankings provide a snapshot of how our approach is designed to deliver over time,” said Dave Harrison Smith, CFA, Chief Investment Officer at Bailard. “They’re a reminder that discipline and patience matter, especially when markets are unpredictable.”
Bailard strategies earning recognition
Using proprietary screens, PSN identifies strategies that have outperformed peers over multiple time periods. Bailard’s strategies earned the following recognition for the period ending June 30, 2025. Among them, the Bailard International Strategy stood out with a 5-Star rating in the EAFE Universe (230 products)—placing it in a select group recognized for both performance and lower volatility compared to peers.
Bailard International Strategy
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- 5 Star: EAFE Universe (230 products)
Bailard Micro Cap Value Strategy
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- 3 Year: Micro Cap Universe (58 products)
- 4 Star: Micro Cap Universe (58 products)
- 1 Year: US Equity Socially Responsible Universe (150 products)
Bailard Technology Strategy
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- 3 Year: All Cap Universe (393 products)
- 3 Year: All Cap Growth Universe (78 products)
Bailard Technology and Science Strategy
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- 3 Year: All Cap Universe (393 products)
- 3 Year: All Cap Growth Universe (78 products)
Insight from PSN
Zephyr also commented on the challenges managers faced in achieving top recognition:
"Q2 2025 combined unprecedented volatility with surprising resilience, requiring managers to demonstrate conviction and agility," says PSN Product Manager Nick Williams. "PSN Top Guns managers excelled by navigating significant market leadership shifts, maintaining discipline during turbulence while capitalizing on opportunities. Their performance highlights the distinct value of active management in SMAs as markets responded to evolving economic conditions and policy changes."*
*This endorsement was provided by the program administrator of Zephyr’s PSN. The program is not a client of Bailard, Inc. No cash or non-cash compensation was provided in exchange for this endorsement. The program administrator has no material conflicts of interest with Bailard, Inc.
Recognition from independent evaluators like Zephyr affirms Bailard’s continued focus on delivering results with consistency. Explore our equity strategies and how they fit into a diversified portfolio at https://bailard.com/equity-strategies/.
About Bailard, Inc.:
Founded in 1969, Bailard is an independent, values-driven firm serving individuals, families, and institutions with comprehensive wealth management and investment strategies across public and private markets. Headquartered in the San Francisco Bay Area, the woman-led, majority employee-owned firm manages over $7 billion in assets as of June 30, 2025. A Certified B Corporation™ and signatory to the UN Principles for Responsible Investing, Bailard combines deep expertise with a long-standing commitment to putting clients first.
About the PSN rankings: Zephyr’s PSN database is one of the longest-running resources for investment professionals, covering 2,800 firms, 285 universes, and more than 21,000 products. Its robust 40-year performance database underpins the PSN Top Guns rankings, which highlights strategies that have outperformed peers over multiple time periods. The complete list and an overview of the methodology can be found here https://psn.fi.informais.com/PSNTopGuns/topguns_zephyr.asp
The rankings were announced in August 2025, and apply to the quarter ending June 30, 2025. There was no fee to enter. The recognition is based on PSN’s proprietary database and ranking methodology. PSN and its parent company, Informa Financial Intelligence, are independent of Bailard, Inc. The quote from product manager Nick Williams was provided by the program administrator of PSN, who is not a client of Bailard. Bailard did not provide any cash or non-cash compensation in exchange for this statement, and has no affiliation, ownership interest, or financial arrangement with PSN or its program administrator that would reasonably be considered a material conflict of interest. Rankings are based on gross-of-fee returns, the deduction of fees and expenses could have affected performance ratings.
- 1 Year Category: had one of the top 10 returns for the 1-year period in their respective strategy.
- 3 Year Category: had one of the top 10 returns for the 3-year period in their respective strategy.
- 4 Star Category: had an r-squared of 0.80 or greater relative to the style benchmark for the recent 5-year period. Moreover, the strategy’s returns exceeded the style benchmark for the 3 latest 3-year rolling periods. The top 10 returns for the latest 3-year period then become the 4-Star Top Guns.
- 5 Star Category: had an r-squared of 0.80 or greater relative to the style benchmark for the recent 5-year period. Moreover, the strategy’s returns exceeded the style benchmark for the 3 latest 3-year rolling periods. Products are then selected which have a standard deviation for the 5-year period equal or less than the median standard deviation for the peer group. The top 10 returns for the latest 3-year period then become the 5-Star Top Guns.
Important disclosures and key risks regarding Bailard’s strategies
Bailard International Strategy: In addition to the possible loss of investment value due to general market price movements, international investments might suffer losses due to unfavorable exchange rate movements or economic and/or political instability in foreign countries. In some cases, financial statement information might not be readily available or might not be reliable for certain foreign markets. International accounting standards might be different from U.S. accounting standards, and financial data might be subject to misinterpretation. Trading in international markets can be more expensive than trading in domestic markets. Stock markets of certain foreign countries, particularly emerging and frontier markets, may be illiquid, and settlements can be delayed. Emerging and frontier markets have greater risks and can have higher transaction costs than their developed market counterparts.
Bailard Micro Cap Value Strategy: The Bailard Micro Cap Value Strategy is not by itself a complete investment program and is best suited for investors who can accept the above average risk generally associated with micro cap stocks. These companies may face greater economic cycle risk, credit risk, geographic risk, product, and customer concentration risk than that faced by larger companies. Micro cap stocks are more volatile and less liquid than larger cap stocks and may be more difficult to trade. There are times when the micro cap value equity style underperforms other equity investment styles. The market value of an investment will fluctuate as the securities markets fluctuate. There can be no assurance that this or any investment strategy will achieve its investment objectives.
Bailard Technology Strategy: The Bailard Technology Composite is not by itself a complete investment program and is best suited for investors who can accept the above average risk generally associated with growth stocks and technology stocks. The strategy is primarily subject to the risk that the market value of investments will fluctuate as stock markets fluctuate plus the style and sector risks associated with a complete weighting in the technology sector, which may be more volatile than the overall stock market. The strategy is also subject to the size risks associated with investments in smaller market cap stocks in addition to its predominant tilt toward large cap stocks The strategy may invest in American Depository Receipts (ADRs) and Global Depository Receipts (GDRs) which are subject to the same risks as the foreign securities that they evidence or into which they may be converted (including political or economic instability, the impact of currency rate fluctuations and different accounting standards). The strategy may invest in derivative securities, which may be volatile and may increase investment leverage.
Bailard Technology and Science Strategy: The Technology and Science Strategy is not by itself a complete investment program and is best suited for investors who can accept the above average risk generally associated with growth stocks, technology stocks and health care stocks (including emerging life sciences stocks). The strategy is primarily subject to the risk that the market value of investments will fluctuate as stock markets fluctuate, and the style and sector risks associated with a heavy weighting in the technology and health care sectors, which may be more volatile than the overall stock market. The strategy is also subject to the size risks associated with investments in smaller market cap stocks in addition to its predominant tilt toward large cap stocks. The strategy may invest in American Depository Receipts (ADRs) and Global Depository Receipts (GDRs) which are subject to the same risks as the foreign securities that they evidence or into which they may be converted (including political or economic instability, the impact of currency rate fluctuations and different accounting standards). The strategy may invest in derivative securities, which may be volatile and may increase investment leverage.
Non-Financial Information: The use of screens based on non-financial information (NFI) as an input to the strategy may exclude certain investments and result in performance that differs from strategies not using such inputs. NFI assessments are inherently subjective, and investors may disagree on what constitutes favorable NFI characteristics. We rely on third-party NFI data, which may be incomplete or inconsistent, and our application of NFI criteria may not always align with an investor’s values. Our evaluation of NFI criteria may change over time.
There can be no assurance that Bailard will achieve its investment objectives. All investments have the risk of loss.
Country Indices Flash Report – August 2025
President Trump met President Putin in Alaska to discuss the Russia-Ukraine war, then later met in DC with Ukrainian President Zelenskyy and the leaders of several major European countries. Nothing definitive has emerged yet, with the attacks unrelenting. [Read more…]
El Dorado Self-Storage
El Dorado Self-Storage is a 227,327 SF to-be-built self-storage facility located in El Dorado Hills (Sacramento MSA), California. The Project consists of a single three-story, climate-controlled facility with 1,148 total units (138,277 SF) on the south side of the site, and four single-story buildings on the north-side of the site to accommodate 136 boat and RV storage units (89,050 SF).
Bailard Earns Global Recognition and National Ranking
Firm honored at the international Wealth for Good Awards and named to Financial Advisor Magazine’s 2025 Top RIA ranking.
SAN FRANCISCO – August 27, 2025 – Bailard, Inc. today announced it has received two honors this summer, reflecting both the firm’s values-driven commitment to its community and its continued standing among the nation’s independent RIAs. Bailard was awarded “Best Philanthropic Initiative (Americas)” at the global 2025 WealthBriefing Wealth for Good Awards and was also named to Financial Advisor Magazine’s 2025 Top RIA Ranking.
The Wealth for Good Awards are an international program recognizing wealth management firms worldwide that advance initiatives prioritizing purpose and impact. Bailard was recognized for the work of the Bailard Foundation, which has distributed more than $1.25 million in grants and donations since its inception in 2019, with over 90% of those funds benefiting the local Bay Area community. The Foundation focuses on affordable housing, homelessness and poverty, and financial literacy, while also supporting employee matching and volunteer initiatives.
“Giving back is central to who we are. Our employees dive in — through donations and hands-on volunteering — and often say it’s among the most rewarding aspects of being part of Bailard,” said Sonya Mughal, CFA, Chief Executive Officer of Bailard. “The Foundation channels that passion into real impact here in the Bay Area, and we’re honored that work has been recognized on a global stage.”
In addition, Bailard was recognized once again among Financial Advisor Magazine’s Top RIAs, marking the firm’s fifth consecutive year in the Top 100. The annual survey ranks independent registered investment advisors by assets under management as of December 31, 2024.
“Being named among the Top RIAs is a credit to our team and to the clients who put their trust in us,” said Mike Faust, CFA, President of Wealth Management at Bailard. “It’s their partnership that makes this recognition possible.”
Together, these recognitions honor what Bailard has done for decades: caring for clients while staying true to the firm’s values. With more than $7 billion in assets under management as of June 30, 2025, Bailard continues to combine independent wealth and asset management with a commitment to community and responsibility.
More on the Bailard Foundation’s work can be found at bailard.com/bailard-foundation.
About Bailard, Inc.
Founded in 1969, Bailard is an independent, values-driven firm serving individuals, families, and institutions with comprehensive wealth management and investment strategies across public and private markets. Headquartered in the San Francisco Bay Area, the woman-led, majority employee-owned firm manages over $7 billion in assets as of June 30, 2025. A Certified B Corporation™ and signatory to the UN Principles for Responsible Investing, Bailard combines deep expertise with a long-standing commitment to putting clients first.
About these recognitions
These achievements do not evaluate the quality of services provided to clients and are not indicative of Bailard’s future performance. There were no fees to enter. The 2025 WealthBriefing Wealth for Good Awards were given in June 2025 by ClearView Financial Media. This annual award gives an opportunity in the global wealth management industry to demonstrate their commitment to and pre-eminence in the crucially important areas of ESG, Impact, Diversity and Inclusion. The Judges Panel consisted of asset managers, banks, trust companies, law firms, family offices and independent consultants, each of whom has in-depth knowledge and experience with ESG, Impact, Diversity and Inclusion in the wealth management space. The Bailard Foundation has a board of directors that is led by chairwoman Terri Bailard, widow of firm co-founder Tom Bailard, and features both friends of Bailard, Inc. and its employees. The Financial Advisor Top RIAs ranking is published each July, and compiled through an annual survey that brings together independent RIAs across the country. To be eligible, firms must be independent registered investment advisors and file their own ADV statement with the SEC, and provide financial planning and related services to individual clients. Firms were recognized by their assets under management as of December 31, 2024; Bailard ranked #87 of 366 firms represented in the 2025 list. Bailard ranked #84 of 431 firms in 2024; #91 of 521 firms in 2023; #94 of 534 firms in 2022; #97 out of 607 in 2021; and #100 of 715 in 2020. Past performance is no indication of future results. All investments have the risk of loss.
750 Curtiss
750 Curtiss will be a six-story, mid-rise, podium-style apartment building totaling 138 units located in Downers Grove, a western suburb of Chicago, IL. The Project will be built on an 1.34-acre infill site a three-minute walk from the Downers Grove Metra Station (BNSF Line).
Why International Equities Deserve a Fresh Look in Today’s Market
Non-U.S. Stocks and U.S. stocks have alternated in powerful, long cycles of dominance. Multiple market drivers have shifted to give international time in the sun.
