Baillie Gifford

Q3 2013 13F

As of: Sep 30, 2013
Filed: Nov 8, 2013
US stock: $39.5B · prev $33.0B
Positions: 209 · prev 187
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves176 since the prior filing

+2.4 pp in · −2.3 pp out

New 29 +1.11 pp
Added 101 +1.31 pp
Trimmed 39 −2.20 pp
Exited 7 −0.10 pp

The book

Focused · behaves like 29 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 19% a year, about 5.2 years per position

Low
Moderate
High

Top 5 positions32% of US stock

BIDU Baidu, Inc. trimmed+2.22 pp trimmed+2.2210.9%
AMZN Amazon.Com Inc trimmed−0.95 pp trimmed−0.959.0%
unresolved Google Inc. added−0.41 pp added−0.415.2%
EBAY eBay Inc trimmed−0.49 pp trimmed−0.494.0%
ILMN Illumina Inc trimmed−0.46 pp trimmed−0.463.3%

Positions209 in this filing · 7 exited


BIDUBaidu, Inc.	10.93%	27,849,452	$4.3B	trimmed−8%	+2.22 pp	2 q
AMZNAmazon.Com Inc	8.97%	11,336,771	$3.5B	trimmed−4%	−0.95 pp	2 q
unresolvedGoogle Inc.	5.22%	2,357,232	$2.1B	added+12%	−0.41 pp	2 q
EBAYeBay Inc	4.00%	28,339,305	$1.6B	trimmed−1%	−0.49 pp	2 q
ILMNIllumina Inc	3.26%	15,933,369	$1.3B	trimmed−3%	−0.46 pp	2 q
unresolvedWhole Foods Market	3.23%	21,842,579	$1.3B	trimmed−1%	−0.23 pp	2 q
METAMeta Platforms, Inc. Class A	2.99%	23,499,826	$1.2B	trimmed−1%	+1.20 pp	2 q
CRMSalesforce, Inc.	2.76%	20,983,241	$1.1B	trimmed−3%	+0.25 pp	2 q
AAPLApple Inc.	2.64%	2,187,791	$1.0B	trimmed−13%	−0.38 pp	2 q
ISRGIntuitive Surgical Inc.	2.21%	2,325,096	$875M	added+1%	−1.34 pp	2 q
TSLATesla, Inc.	2.11%	4,322,019	$836M	added+85%	+1.35 pp	2 q
TRIPTripAdvisor, Inc.	1.94%	10,104,922	$766M	added+4%	+0.15 pp	2 q
MELIMercado Libre, Inc	1.78%	5,227,761	$705M	trimmed−4%	+0.01 pp	2 q
unresolvedLinkedin Corp Cl A	1.67%	2,677,870	$659M	added+6%	+0.31 pp	2 q
DEDeere & Company	1.52%	7,359,464	$599M	trimmed−4%	−0.37 pp	2 q
HOGHarley-Davidson, Inc.	1.43%	8,782,186	$564M	added+39%	+0.38 pp	2 q
unresolvedNew Oriental Ed & Tech Grp I	1.37%	21,813,377	$543M	trimmed−4%	−0.15 pp	2 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	1.37%	31,929,846	$542M	added+6%	−0.31 pp	2 q
BAPCredicorp LTD	1.33%	4,097,297	$526M	added+1%	−0.25 pp	2 q
unresolvedRackspace Hosting Inc	1.25%	9,362,379	$494M	trimmed−4%	+0.13 pp	2 q
CTRPTrip.com Group Limited	1.14%	7,712,574	$451M	trimmed−5%	+0.33 pp	2 q
MAMastercard Incorporated	1.14%	670,110	$451M	added+10%	+0.08 pp	2 q
ITUBItau Unibanco Holding S.A.	1.13%	31,706,587	$448M	added+1%	−0.10 pp	2 q
EOGEOG Resources, Inc.	1.11%	2,580,636	$437M	added+8%	+0.15 pp	2 q
SGENSeagen Inc.	1.09%	9,811,312	$430M	added+87%	+0.59 pp	2 q
MKLMarkel Group Inc.	1.03%	788,669	$408M	added+16%	−0.06 pp	2 q
MCOMoody's Corporation	1.02%	5,710,010	$402M	added+11%	+0.07 pp	2 q
unresolvedRyanair Holdings PLC ADR	0.93%	7,375,819	$367M	added+10%	−0.12 pp	2 q
PEPPepsiCo, Inc.	0.92%	4,577,414	$364M	added+1%	−0.20 pp	2 q
FRCBFirst Republic Bk CA	0.88%	7,422,295	$346M	added+18%	+0.15 pp	2 q
MTBM&T Bank Corp.	0.83%	2,937,324	$329M	added×2.6	+0.44 pp	2 q
unresolvedMindray Medical International ADR	0.83%	8,405,970	$327M	added+6%	−0.07 pp	2 q
EMBJEmbraer S.A.	0.80%	9,680,045	$314M	added+35%	0.00 pp	2 q
KMXCarMax Inc.	0.77%	6,292,238	$305M	added+12%	−0.02 pp	2 q
XLNXXilinx Inc	0.76%	6,371,090	$299M	added+11%	+0.07 pp	2 q
DISThe Walt Disney Company	0.72%	4,384,250	$283M	added+9%	−0.05 pp	2 q
WATWaters Corp	0.72%	2,691,600	$286M	added+12%	−0.01 pp	2 q
AMTTd Ameritrade Holding Corp	0.71%	10,721,696	$281M	added+23%	+0.07 pp	2 q
UPLUltra Petroleum Corp	0.69%	13,205,979	$272M	added+8%	−0.04 pp	2 q
VVISA Inc.	0.68%	1,410,973	$270M	added+9%	−0.04 pp	2 q
FLIRFLIR Systems, Inc. (DE)	0.67%	8,430,164	$265M	added+9%	+0.04 pp	2 q
NYCBFlagstar Bank, National Association	0.65%	16,987,866	$257M	added+10%	−0.01 pp	2 q
RCLRoyal Caribbean Group	0.63%	6,525,637	$250M	added+10%	+0.03 pp	2 q
LECOLincoln Electric Holdings Inc	0.61%	3,605,918	$240M	added×2.0	+0.30 pp	2 q
PGRProgressive Corporation	0.59%	8,540,495	$233M	added+4%	−0.04 pp	2 q
DLBDolby Laboratories, Inc.Class A	0.58%	6,654,866	$230M	added+10%	−0.03 pp	2 q
MHKMohawk Industries, Inc.	0.57%	1,732,908	$226M	added+12%	+0.04 pp	2 q
RBARB Global, Inc.	0.55%	10,826,132	$218M	added+3%	−0.06 pp	2 q
AMXNAmerica Movil-spn ADR Cl L	0.53%	10,615,802	$210M	trimmed−44%	−0.73 pp	2 q
unresolvedWellpoint Inc	0.51%	2,388,915	$200M	added+17%	0.00 pp	2 q
unresolvedVale S.A. PFD	0.50%	13,884,400	$197M	trimmed−59%	−0.75 pp	2 q
CXCemex S.A.B. de C.V.	0.46%	16,362,166	$183M	added+32%	+0.06 pp	2 q
PXGBXPraxair Inc	0.46%	1,496,259	$180M	added+15%	+0.01 pp	2 q
NOVNOV Inc.	0.45%	2,277,584	$178M	added+8%	+0.01 pp	2 q
QCOMQualcomm Inc	0.42%	2,456,400	$165M	new	+0.42 pp	new
BRK.BBERKSHIRE HATHAWAY Class B	0.41%	1,438,247	$163M	added+32%	+0.04 pp	2 q
JNJJohnson & Johnson	0.40%	1,811,959	$157M	added+43%	+0.07 pp	2 q
unresolvedAltera Corp	0.39%	4,139,829	$154M	added+13%	+0.02 pp	2 q
BBYD20230930-DK-BUTTERFLY-1 Inc	0.38%	1,966,728	$152M	added+9%	−0.01 pp	2 q
unresolvedYouku Inc ADR	0.37%	5,317,416	$146M	trimmed−2%	+0.06 pp	2 q
PFEPfizer Inc.	0.35%	4,782,624	$137M	added+6%	−0.03 pp	2 q
TDCTeradata Corporation	0.34%	2,410,446	$134M	added+11%	+0.01 pp	2 q
ARCOArcos Dorados Holdings Inc.	0.33%	10,889,424	$129M	added+3%	−0.05 pp	2 q
ORLYO'Reilly Automotive, Inc.	0.32%	993,811	$127M	trimmed−15%	−0.08 pp	2 q
OMCOmnicom Group Inc.	0.31%	1,906,459	$121M	trimmed−73%	−1.02 pp	2 q
MTDMettler-Toledo International	0.29%	478,747	$115M	added+7%	+0.02 pp	2 q
PBRPetroleo Brasileiro S.a.-petrobras	0.29%	7,392,735	$115M	trimmed−5%	−0.03 pp	2 q
unresolvedQiagen N.V	0.29%	5,431,200	$116M	added+11%	0.00 pp	2 q
TERTeradyne, Inc.	0.28%	6,655,588	$110M	added+9%	−0.04 pp	2 q
PBR.APetroleo Brasileiro S.A.-Petrobras	0.27%	6,408,886	$107M	added+15%	+0.02 pp	2 q
USBU.S. Bancorp	0.26%	2,782,149	$102M	trimmed−4%	−0.06 pp	2 q
unresolvedKraft Foods Group Inc	0.24%	1,788,752	$94M	added+19%	−0.01 pp	2 q
IBNICICI Bank Limited	0.23%	2,964,100	$90M	added+38%	−0.02 pp	2 q
MYGNMyriad Genetics Inc	0.22%	3,663,400	$86M	new	+0.22 pp	new
PSMTPricesmart Inc	0.22%	930,388	$89M	added0%	−0.03 pp	2 q
BF.BBrown-Forman Corporation Class B	0.21%	1,209,149	$82M	added+7%	−0.02 pp	2 q
CVECenovus Energy Inc.	0.21%	2,713,344	$81M	trimmed−5%	−0.04 pp	2 q
unresolvedCoca Cola Enterprises Inc Ne	0.21%	2,082,871	$84M	added+21%	+0.03 pp	2 q
9990302DApache Corp	0.19%	863,382	$74M	added+9%	−0.01 pp	2 q
DHRDanaher Corporation	0.19%	1,099,944	$76M	added+75%	+0.07 pp	2 q
SOHUNSohu.com Inc	0.19%	950,983	$75M	added+1%	+0.01 pp	2 q
unresolvedWestport Innovations Inc US	0.19%	3,079,532	$75M	trimmed−0%	−0.12 pp	2 q
SQMSociedad Quimica y Minera de Chile SA	0.18%	2,372,468	$72M	trimmed−1%	−0.11 pp	2 q
WSOWatsco, Inc.	0.18%	747,442	$70M	added+23%	+0.03 pp	2 q
CLColgate-Palmolive Company	0.17%	1,152,638	$68M	trimmed−14%	−0.06 pp	2 q
WTWWillis Towers Watson Public Limited Company	0.16%	1,639,493	$61M	added+13%	−0.04 pp	2 q
UPSUnited Parcel Service, Inc. Class B	0.15%	627,861	$57M	added+3%	−0.01 pp	2 q
CPACopa Holdings, S.A.	0.15%	421,916	$59M	added+2%	−0.01 pp	2 q
LULUlululemon athletica inc.	0.14%	755,496	$55M	added+77%	+0.06 pp	2 q
ALNYAlnylam Pharmaceuticals, Inc.	0.12%	753,000	$48M	trimmed−16%	+0.04 pp	2 q
TJXTJX Companies, Inc. (The)	0.12%	848,347	$48M	added+12%	+0.01 pp	2 q
ADIAnalog Devices, Inc.	0.11%	929,557	$44M	added+3%	−0.01 pp	2 q
unresolvedCoca Cola Hbc ADR	0.10%	1,339,164	$40M	trimmed−8%	0.00 pp	2 q
unresolvedIHS Inc 'A'	0.10%	344,962	$39M	trimmed−2%	−0.01 pp	2 q
XOMExxon Mobil Corp	0.09%	427,308	$37M	added+27%	0.00 pp	2 q
unresolvedLinear Technology Group	0.09%	882,322	$35M	added+12%	0.00 pp	2 q
unresolvedMonsanto Co	0.09%	324,750	$34M	trimmed−52%	−0.11 pp	2 q
unresolvedPriceline Grp Inc	0.09%	33,703	$34M	trimmed−6%	0.00 pp	2 q
unresolvedSolera Holdings	0.09%	670,326	$35M	added+2%	−0.02 pp	2 q
SSYSStratasys Inc (ISRAEL)	0.09%	333,300	$34M	trimmed−5%	0.00 pp	2 q
IMAXImax Corp	0.08%	1,032,760	$31M	trimmed−11%	−0.01 pp	2 q
unresolvedLife Technologies Corp	0.08%	437,771	$33M	trimmed−58%	−0.15 pp	2 q
MCDMcDonald's Corporation	0.08%	340,604	$33M	trimmed−1%	−0.02 pp	2 q
ROKRockwell Automation, Inc.	0.08%	304,178	$33M	added+14%	+0.01 pp	2 q
MLMMartin Marietta Materials	0.07%	299,372	$29M	added+33%	0.00 pp	2 q
unresolvedZillow	0.07%	335,010	$28M	trimmed−0%	+0.01 pp	2 q
AIGAmerican International Group, Inc.	0.06%	483,000	$23M	held	—	2 q
unresolvedBeam Inc	0.06%	372,993	$24M	added+2%	−0.01 pp	2 q
unresolvedBurger King Worldwide Inc	0.06%	1,200,600	$23M	held	—	2 q
CCUCompania Cervecerias Unidas S.A.	0.06%	833,602	$22M	new	+0.06 pp	new
GHDXGenomic Health, Inc.	0.06%	835,566	$26M	added+56%	+0.01 pp	2 q
IRBTiRobot Corporation	0.06%	670,400	$25M	added+14%	−0.01 pp	2 q
PLXProtalix BioTherapeutics, Inc.	0.06%	5,548,351	$25M	added+16%	−0.01 pp	2 q
WDAYWorkday, Inc. Class A	0.06%	300,000	$24M	held	—	2 q
unresolvedAngie's List	0.05%	890,262	$20M	trimmed−16%	−0.04 pp	2 q
BMYBristol-Myers Squibb Co.	0.05%	389,220	$18M	added+4%	0.00 pp	2 q
FFIVF5, Inc.	0.05%	236,622	$20M	added×2.2	+0.03 pp	2 q
MSFTMicrosoft Corp	0.05%	608,082	$20M	added+76%	+0.01 pp	2 q
unresolvedOpentable	0.05%	297,600	$21M	added+2%	−0.01 pp	2 q
unresolvedPenn West Petroleum Ltd	0.05%	1,827,344	$20M	added+11%	0.00 pp	2 q
PMPhilip Morris International Inc.	0.05%	249,905	$22M	added+60%	+0.01 pp	2 q
AWRAmerican States Water Company	0.04%	520,000	$14M	new	+0.04 pp	new
AWKAmerican Water Works Company, Inc	0.04%	360,000	$15M	new	+0.04 pp	new
unresolvedAqua America	0.04%	587,500	$15M	new	+0.04 pp	new
CWTCalifornia Water Service	0.04%	730,000	$15M	new	+0.04 pp	new
unresolvedCuris	0.04%	3,338,800	$15M	added+1%	+0.01 pp	2 q
HDHome Depot, Inc.	0.04%	220,205	$17M	trimmed−58%	−0.08 pp	2 q
KSUKansas City Southern	0.04%	129,621	$14M	trimmed−1%	0.00 pp	2 q
unresolvedSilver Wheaton (Nys)	0.04%	638,400	$16M	held	—	2 q
HEIHEICO Corporation	0.03%	169,420	$11M	new	+0.03 pp	new
IDXXIdexx Laboratories Inc	0.03%	107,039	$11M	held	—	2 q
REGNRegeneron Pharmaceuticals Inc	0.03%	39,452	$12M	added×23.6	+0.03 pp	2 q
NLYAnnaly Capital Management. Inc.	0.02%	558,883	$6M	added×2.2	+0.01 pp	2 q
BBDBanco Bradesco S.A.	0.02%	607,902	$8M	held	—	2 q
DCIDonaldson Company, Inc.	0.02%	161,629	$6M	new	+0.02 pp	new
unresolvedEncana Corp	0.02%	503,000	$9M	held	—	2 q
unresolvedFEI Company	0.02%	84,700	$7M	added+19%	0.00 pp	2 q
FASTFastenal Co	0.02%	144,252	$7M	new	+0.02 pp	new
unresolvedGeneral Cable Corp	0.02%	208,376	$7M	added+9%	0.00 pp	2 q
ORCLOracle Corp	0.02%	275,261	$9M	new	+0.02 pp	new
PWRQuanta Services, Inc.	0.02%	261,320	$7M	added+9%	0.00 pp	2 q
SLBSLB Limited	0.02%	75,590	$7M	new	+0.02 pp	new
TYGTortoise Energy Infrastructure Corp.	0.02%	210,205	$10M	added+25%	0.00 pp	2 q
WMTWalmart Inc.	0.02%	112,340	$8M	new	+0.02 pp	new
AXPAmerican Express Company	0.01%	60,810	$5M	new	+0.01 pp	new
ADPAutomatic Data Processing	0.01%	80,089	$6M	new	+0.01 pp	new
BRK.ABerkshire Hathaway Inc.	0.01%	15	$3M	held	—	2 q
BBBlackBerry Limited	0.01%	646,302	$5M	new	+0.01 pp	new
CHRWC.H. Robinson Worldwide, Inc.	0.01%	62,687	$4M	new	+0.01 pp	new
ECLEcolab, Inc.	0.01%	48,551	$5M	new	+0.01 pp	new
EWZiShares MSCI Brazil ETF	0.01%	68,011	$3M	trimmed−1%	0.00 pp	2 q
ACWIiShares MSCI ACWI ETF	0.01%	70,000	$4M	new	+0.01 pp	new
unresolvedJohnson Controls	0.01%	89,979	$4M	new	+0.01 pp	new
MKTXMarketAxess Holdings Inc.	0.01%	46,600	$3M	added×2.5	+0.01 pp	2 q
MCHPMicrochip Technology Inc	0.01%	52,237	$2M	new	+0.01 pp	new
NDSNNordson Corp	0.01%	60,859	$4M	new	+0.01 pp	new
unresolvedNovadaq Technologies Inc	0.01%	148,000	$2M	added×4.8	+0.01 pp	2 q
unresolvedPactera Technology Intl Ltd Sp	0.01%	651,400	$4M	held	—	2 q
unresolvedReynolds American	0.01%	121,179	$6M	added+17%	−0.01 pp	2 q
SHWThe Sherwin-Williams Company	0.01%	26,821	$5M	new	+0.01 pp	new
TEVATeva Pharmaceutical Industries Limited	0.01%	69,350	$3M	held	—	2 q
TIFTiffany & Co.	0.01%	68,117	$5M	new	+0.01 pp	new
VARVarian Medical Systems, Inc.	0.01%	64,075	$5M	new	+0.01 pp	new
ACTGAcacia Research Corporation	0.00%	36,500	$842,000	added+20%	0.00 pp	2 q
AVAVAeroVironment, Inc.	0.00%	49,800	$1M	added×2.2	0.00 pp	2 q
AAgilent Technologies Inc.	0.00%	6,304	$323,000	held	—	2 q
AMEDAmedisys Inc	0.00%	19,129	$329,000	held	—	2 q
unresolvedApollo Group Inc Class A	0.00%	4,200	$87,000	held	—	2 q
unresolvedARIAD Pharms Inc	0.00%	5,327	$98,000	held	—	2 q
ADSKAutodesk Inc	0.00%	7,441	$306,000	held	—	2 q
unresolvedAutonavi Holdings ADR	0.00%	68,400	$1M	added+80%	0.00 pp	2 q
BMRNBioMarin Pharmaceuticals Inc	0.00%	5,949	$430,000	held	—	2 q
BTXBiotime Inc	0.00%	20,648	$78,000	held	—	2 q
CECOPerdoceo Education Corporation	0.00%	98,062	$271,000	held	—	2 q
CELGCelgene Corp	0.00%	3,483	$536,000	held	—	2 q
unresolvedCepheid	0.00%	5,367	$210,000	held	—	2 q
unresolvedCIA Cervecerias Rights	0.00%	133,474	$60,000	new	0.00 pp	new
DXCMDexCom, Inc.	0.00%	66,000	$2M	added×2.2	0.00 pp	2 q
unresolvedEllie Mae	0.00%	21,000	$672,000	new	0.00 pp	new
EMGAEmagin Corporation	0.00%	40,000	$120,000	held	—	2 q
EPAMEpam Systems, Inc.	0.00%	47,500	$2M	added×2.3	0.00 pp	2 q
EXELExelixis Inc	0.00%	15,912	$93,000	held	—	2 q
FAROFaro Technologies Inc	0.00%	23,900	$1M	added×2.0	0.00 pp	2 q
RAILFreightCar America, Inc.	0.00%	4,165	$86,000	held	—	2 q
HOLXHologic Inc	0.00%	12,045	$249,000	held	—	2 q
unresolvedHospira Inc	0.00%	7,191	$282,000	held	—	2 q
IPGPIPG Photonics Corporation	0.00%	31,900	$2M	added×2.2	0.00 pp	2 q
ESINQItt Educational Svcs Inc	0.00%	14,949	$463,000	held	—	2 q
unresolvedIntralinks Holdings	0.00%	33,000	$290,000	held	—	2 q
LPIVital Energy Inc	0.00%	10,000	$297,000	new	0.00 pp	new
unresolvedMedgenics	0.00%	47,855	$373,000	added×2.1	0.00 pp	2 q
unresolvedMedivation Inc	0.00%	3,148	$189,000	held	—	2 q
unresolvedNPS Pharmaceuticals	0.00%	25,173	$801,000	held	—	2 q
unresolvedNam Tai Property Inc	0.00%	11,700	$91,000	held	—	2 q
NOAHNoah Holdings Limited	0.00%	27,000	$460,000	held	—	2 q
unresolvedNovacopper Inc	0.00%	22,000	$42,000	held	—	2 q
unresolvedOnyx Pharmaceuticals Inc	0.00%	3,079	$384,000	held	—	2 q
POWIPower Integrations Inc	0.00%	15,500	$839,000	added+82%	0.00 pp	2 q
DGXQuest Diagnostics Inc.	0.00%	2,665	$165,000	held	—	2 q
RBCAARepublic Bancorp Inc/KY	0.00%	100	$3,000	trimmed−86%	0.00 pp	2 q
unresolvedSequenom	0.00%	41,194	$110,000	held	—	2 q
unresolvedShanda Games Adr 1:2 'A'	0.00%	46,300	$181,000	held	—	2 q
unresolvedSimcere Pharm.Gp.Adr 1:2	0.00%	24,400	$231,000	held	—	2 q
STMPStamps.com, Inc.	0.00%	38,600	$2M	added+93%	0.00 pp	2 q
unresolvedWsp Holdings Ltd-adr	0.00%	90,400	$187,000	held	—	2 q
unresolvedYongye International Inc	0.00%	19,400	$120,000	held	—	2 q
unresolvedXyratex Ltd	0.00%	17,456	$194,000	held	—	2 q
unresolvedGiven Imaging Ltd	0.00%	45,441	$874,000	added×2.6	0.00 pp	2 q
MMYTMakeMyTrip Limited	0.00%	73,800	$1M	new	0.00 pp	new
VALEVale S.a.	—	−1,492,235	—	exited	−0.06 pp	—
POTPotash Corp Of Saskatchewan	—	−170,125	—	exited	−0.02 pp	—
unresolvedResearch In Motion	—	−646,302	—	exited	−0.02 pp	—
unresolvedEldorado Gold (C$)	—	−96,400	—	exited	0.00 pp	—
unresolvedMemsic Inc	—	−10,100	—	exited	0.00 pp	—
unresolvedSprott Resource Lending	—	−60,000	—	exited	0.00 pp	—
unresolvedZhongpin Inc	—	−16,682	—	exited	0.00 pp	—