Baird Financial Group, Inc. reports 73.01% decrease in ownership of CDNS / Cadence Design Systems, Inc.

Cadence Design Systems, Inc.

MX ˙ BMV ˙ US1273871087

Security	MX:CDNS / Cadence Design Systems, Inc.
Institution	Baird Financial Group, Inc.
Latest Disclosed Ownership	52,563 shares
Latest Disclosed Value	$ 14,605,681

On May 14, 2026 - Baird Financial Group, Inc. filed a 13F-HR form disclosing ownership of 52,563 shares of Cadence Design Systems, Inc. (MX:CDNS) valued at $14,605,681 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 13, 2026 disclosing 194,740 shares of Cadence Design Systems, Inc.. This represents a change in shares of -73.01% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)

File Date	Effective Date	Form	Security	Class	ID	Reported Shares	ΔShares	ΔShares (%)	Reported Value (x1000)	ΔValue (%)	Alloc (%)
2026-05-14	2026-03-31	13F	CADENCE DESIGN SYSTEM	COM	127387108	52,563	-142,177	-73.01	14,606	-76.01	0.0123
2026-02-13	2025-12-31	13F	CADENCE DESIGN SYSTEM INC COM	COMMON	127387108	194,740	1,842	0.95	60,872	-10.16	0.0949
2025-11-13	2025-09-30	13F	CADENCE DESIGN SYSTEM INC COM	COMMON	127387108	192,898	-2,289	-1.17	67,757	12.65	0.1090
2025-08-13	2025-06-30	13F	CADENCE DESIGN SYSTEM INC COM	COMMON	127387108	195,187	-4,423	-2.22	60,147	18.48	0.1055
2025-05-15	2025-03-31	13F	CADENCE DESIGN SYSTEM INC COM	COMMON	127387108	199,610	61,043	44.05	50,767	21.94	0.0977
2025-02-14	2024-12-31	13F	CADENCE DESIGNS SYS	COMMON	127387108	138,567	103,143	291.17	41,634	333.68	0.0796
2024-11-14	2024-09-30	13F	CADENCE DESIGNS SYS	COMMON	127387108	35,424	197	0.56	9,601	-11.45	0.0186
2024-08-14	2024-06-30	13F	CADENCE DESIGNS SYS	COMMON	127387108	35,227	6,125	21.05	10,841	19.68	0.0225
2024-05-14	2024-03-31	13F	CADENCE DESIGNS SYS	COMMON	127387108	29,102	3,732	14.71	9,059	31.09	0.0190
2024-02-14	2023-12-31	13F	CADENCE DESIGNS SYS	COMMON	127387108	25,370	839	3.42	6,910	20.24	0.0157
2023-11-13	2023-09-30	13F	CADENCE DESIGNS SYS	COMMON	127387108	24,531	2,263	10.16	5,748	10.05	0.0157
2023-08-11	2023-06-30	13F	CADENCE DESIGNS SYS	COMMON	127387108	22,268	-338,557	-93.83	5,222	-93.11	0.0138
2023-05-15	2023-03-31	13F	CADENCE DESIGNS SYS	COMMON	127387108	360,825	-129,980	-26.48	75,806	97,085.90	0.1870
2023-02-13	2022-12-31	13F	CADENCE DESIGNS SYS	COMMON	127387108	490,805	-2,338	-0.47	79	-99.90	0.2076
2022-11-15	2022-09-30	13F	CADENCE DESIGNS SYS	COMMON	127387108	493,143	22,691	4.82	80,594	14.18	0.2375
2022-08-08	2022-06-30	13F	CADENCE DESIGNS SYS	COMMON	127387108	470,452	-87,415	-15.67	70,583	-23.07	0.1959
2022-05-13	2022-03-31	13F	CADENCE DESIGNS SYS	COMMON	127387108	557,867	10,987	2.01	91,747	-9.97	0.2267
2022-02-09	2021-12-31	13F	CADENCE DESIGN SYSTEM INC COM	COMMON	127387108	546,880	-20,550	-3.62	101,911	18.59	0.2383
2021-11-12	2021-09-30	13F	CADENCE DESIGN SYSTEM INC COM	COMMON	127387108	567,430	264,391	87.25	85,932	107.25	0.2198
2021-08-11	2021-06-30	13F	CADENCE DESIGN SYSTEM INC COM	COMMON	127387108	303,039	293,897	3,214.80	41,462	3,211.66	0.1078
2021-05-13	2021-03-31	13F	CADENCE DESIGNS SYS	COMMON	127387108	9,142	1,486	19.41	1,252	19.81	0.0035
2021-02-11	2020-12-31	13F	CADENCE DESIGNS SYS	COMMON	127387108	7,656	3,455	82.24	1,045	133.26	0.0031
2020-11-12	2020-09-30	13F	CADENCE DESIGN SYS	COMMON	127387108	4,201	-21	-0.50	448	10.62	0.0015
2020-10-22	2020-06-30	13F/A-1	CADENCE DESIGN SYS	COMMON	127387108	4,222	-735	-14.83	405	23.85	0.0015
2020-05-14	2020-03-31	13F	CADENCE DESIGN SYS	COMMON	127387108	4,957	4,957		327		0.0015
2016-08-11	2016-06-30	13F	CADENCE DESIGNS SYS	COMMON	127387108	0	-14,741	-100.00	0	-100.00
2016-05-12	2016-03-31	13F	CADENCE DESIGNS SYS	COMMON	127387108	14,741	14,741		348		0.0033

Legend

Shares: The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value: The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price: The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class: This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred

Allocation (%): The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation: The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%): The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis: The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss: This is the market value of the position as of the effective date minus the cost basis.