Overview


The Baird Small/Mid Cap Growth Fund is a high conviction portfolio of 60-70 stocks, with a strong emphasis on fundamental, bottom-up research to discover unique, secular growth stories that we believe can drive above average sales and earnings growth. The team strongly believes in having a true “smid” portfolio invested in companies primarily between $500 million and $12 billion in market cap. The primary investment goal is to provide superior-to-market returns over a 3-5 year time horizon versus the Russell 2500 Growth Index. The team does this by finding companies for inclusion in the portfolio that have stronger growth, more favorable industry dynamics and competitive positioning, and the opportunity to expand profit margins.

Performance

ALL DATA AS OF 9/30/2021
1 Month 3 Month YTD 1 Year Since Inception
Small/Mid Cap Growth Fund -4.71 1.13 12.77 33.78 26.81
Russell 2500 Growth Index -3.80 -3.53 4.84 31.98 21.74
  • Disclosure

    Performance data quoted represents past performance. Past performance does not guarantee future results. Investment return and principal value of an investment in the fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. The funds' current performance may be lower or higher than the performance data quoted.

    The Fund focuses on growth-style stocks and therefore the performance of the Fund will typically be more volatile than the performance of funds that focus on types of stocks that have a broader investment style. The Fund may invest up to 15% of its total assets in U.S. dollar-denominated foreign securities and ADRs. Foreign investments involve additional risks such as currency rate fluctuations, political and economic instability, and different and sometimes less strict financial reporting standards and regulation. The Fund invests a substantial portion of its assets in the stocks of small- and mid-capitalization companies. Small- and mid-capitalization companies often are more volatile and face greater risks than larger, more established companies.

    The Net Expense Ratio is the Gross Expense Ratio minus any reimbursement from the advisor. The advisor has contractually agreed to waive its fees and/or reimburse expenses at least through April 30, 2022, to the extent necessary to ensure that the total operating expenses do not exceed 1.20% of the Investor Class's average daily net assets and 0.95% of the Institutional Class's average daily net assets. Investor class expense ratios include a 0.25% 12b-1 fee.

    The Russell 2500 Growth Index measures the performance of those Russell 2500 companies with above average price-to-book ratios and higher forecasted growth values. The stocks are also members of the Russell 1000 Growth Index. Indices are unmanaged and are not available for direct investment.

    Time periods greater than one year are annualized.

Distributions

Short-Term Capital Gains Long-Term Capital Gains Record Date Reinvest Date Payable Date Reinvest Price
0.17578 0.15486 12/16/2020 12/17/2020 12/18/2020 17.22
0.00000 0.00000 12/16/2019 12/17/2019 12/18/2019 12.11
0.00000 0.00000 12/24/2018 12/26/2018 12/27/2018 8.75

Portfolio Characteristics

ALL DATA AS OF 9/30/2021
Security % of Fund
Repligen Corporation 2.97%
Monolithic Power Systems, Inc. 2.93%
Pool Corporation 2.76%
Paylocity Holding Corp. 2.58%
SiteOne Landscape Supply, Inc. 2.42%
Five Below, Inc. 2.29%
Insulet Corporation 2.27%
Floor & Decor Holdings, Inc. Class A 2.25%
Catalent Inc 2.19%
ICON Plc 2.18%
  • Disclosure

    Profit Margin is a ratio of profitability calculated as net income divided by revenues, or net profits divided by sales. Debt/Capital Ratio is a measurement of a company’s financial leverage. Debt/Capital Ratio does not include outliers defined as companies with Debt/Capital greater than 500%. Revenue Growth is the total of operating revenues less various adjustments to gross sales. Revenue Growth does not include outliers defined as companies with Revenue Growth less than -50% and greater than 300%. P/E Ratio is a valuation of a company’s current share price compared to its expected per-share earnings. The holdings, characteristics and statistical measures used in this fact sheet are not a forecast of the fund’s future performance and subject to change. Specific securities identified do not represent all the securities purchased, sold or held and a reader should not assume these securities were or will be profitable.