Baird Mid Cap Growth Fund - Institutional Class
BMDIX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 777 East Wisconsin Avenue Milwaukee WI United States of America 53202
- IPO Date
- Dec 29, 2000
- CIK
- 0001282693
- Website
- bairdassetmanagement.com
- Similar Companies
- Business
- Baird Mid Cap Growth Fund - Institutional Class (BMDIX) is an open-end mutual fund that seeks long-term growth of capital by investing at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of U.S. and foreign mid-capitalization companies, principally common stocks, preferred stocks, securities convertible into common stocks, and American Depositary Receipts traded on major U.S. exchanges; up to 15% of total assets may be allocated to equity securities of foreign companies. The fund emphasizes risk control and a long-term perspective, targeting established companies with superior growth prospects, attractive margins, durable revenue growth, capable management, industry tailwinds, and favorable market expectations compared to peers, often favoring profitable, debt-light firms while considering valuations informed by Wall Street research. Managed within the mid-cap growth category against the Russell Midcap Growth Index, it maintains a concentrated portfolio of 45-55 stocks diversified across growth industries, with an average position size of 1%-3% (not exceeding 5%), a turnover rate of approximately 40%, a net expense ratio of 0.81%, total net assets of about $1.5 billion, and a minimum initial investment of $10,000 for the institutional class. Launched on December 29, 2000, and domiciled in the United States, the fund is part of Baird Funds managed by Baird Asset Management, a division of Robert W. Baird & Co. Incorporated, with headquarters in Milwaukee, Wisconsin. The portfolio has been consistently overseen since inception by a dedicated team averaging 20 years of mid-cap investment experience, led by Senior Portfolio Managers Charles F. Severson (since December 29, 2000), Kenneth M. Hemauer, CFA (since May 1, 2010), and Jonathan Good, MBA, alongside Director of Research Corbin Weyer, CFA, CPA, and other senior research analysts. The Institutional Class shares (BMDIX) hold a Bronze Morningstar Medalist Rating (analyst-driven 100%), while the Investor Class (BMDSX) received a Neutral rating, reflecting veteran leadership amid recent performance challenges. Recent portfolio adjustments in Q3 2024 included sales of Bentley Systems due to growth acceleration concerns and Lattice Semiconductor following a CEO departure and weaker fundamentals; additions encompassed Vertiv for its oligopolistic positions in mission-critical datacenter markets with AI-driven demand and medical/nuclear potential, Manhattan Associates, increased stakes in longtime holding EPAM Systems, and AAON following its BASX acquisition to expand into datacenter HVAC infrastructure amid rising AI needs. The fund distributed long-term capital gains of $0.970370 per share on December 17, 2024 (record date December 13, 2024). As of mid-2025, Morningstar updated its Medalist Rating methodology, affirming patience for the strategy despite trailing mid-cap growth peers over recent periods, with assets under management at approximately $1.42-$1.5 billion and top holdings including Monolithic Power Systems (3.00%), Live Nation Entertainment (2.90%), Veeva Systems (2.60%), Hilton Worldwide (2.60%), and Casey's General Stores (2.50%).