Baillie Gifford

Q3 2014 13F

As of: Sep 30, 2014
Filed: Nov 7, 2014
US stock: $45.6B · prev $46.3B
Positions: 206 · prev 204
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%

Moves145 since the prior filing

+6.1 pp in · −6.0 pp out

New 10 +2.32 pp
Added 63 +3.76 pp
Trimmed 64 −5.57 pp
Exited 8 −0.41 pp

The book

Focused · behaves like 32 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 24% a year, about 4.1 years per position

Low
Moderate
High

Top 5 positions30% of US stock

BIDU Baidu, Inc. trimmed+0.95 pp trimmed+0.9511.6%
AMZN Amazon.Com Inc trimmed−0.12 pp trimmed−0.127.3%
ILMN Illumina Inc trimmed−0.53 pp trimmed−0.534.4%
GOOG Alphabet Inc. Class C added+0.61 pp added+0.613.5%
META Meta Platforms, Inc. Class A trimmed+0.45 pp trimmed+0.453.3%

Positions206 in this filing · 8 exited


BIDUBaidu, Inc.	11.63%	24,314,435	$5.3B	trimmed−8%	+0.95 pp	6 q
AMZNAmazon.Com Inc	7.32%	10,354,816	$3.3B	trimmed−2%	−0.12 pp	6 q
ILMNIllumina Inc	4.39%	12,226,545	$2.0B	trimmed−4%	−0.53 pp	6 q
GOOGAlphabet Inc. Class C	3.46%	2,737,156	$1.6B	added+19%	+0.61 pp	2 q
METAMeta Platforms, Inc. Class A	3.33%	19,246,299	$1.5B	trimmed−3%	+0.45 pp	6 q
TSLATesla, Inc.	2.76%	5,190,295	$1.3B	trimmed−3%	0.00 pp	6 q
ISRGIntuitive Surgical Inc.	2.47%	2,440,028	$1.1B	trimmed−4%	+0.22 pp	6 q
BABAAlibaba Group Holding Limited	2.08%	10,664,987	$948M	new	+2.08 pp	new
unresolvedGoogle Inc.	2.08%	1,615,593	$951M	trimmed−27%	−0.71 pp	6 q
CRMSalesforce, Inc.	2.00%	15,852,372	$912M	trimmed−7%	−0.15 pp	6 q
RCLRoyal Caribbean Group	2.00%	13,539,065	$911M	added+3%	+0.42 pp	6 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	1.85%	41,912,710	$846M	trimmed−4%	−0.16 pp	6 q
TRIPTripAdvisor, Inc.	1.66%	8,294,980	$758M	trimmed−2%	−0.32 pp	6 q
MELIMercado Libre, Inc	1.59%	6,657,721	$723M	added+1%	+0.23 pp	6 q
unresolvedWhole Foods Market	1.58%	18,876,706	$719M	trimmed−3%	−0.05 pp	6 q
unresolvedLinkedin Corp Cl A	1.52%	3,336,359	$693M	trimmed−4%	+0.23 pp	6 q
AMTTd Ameritrade Holding Corp	1.43%	19,543,471	$652M	added+6%	+0.18 pp	6 q
CTRPTrip.com Group Limited	1.40%	11,272,630	$640M	trimmed−4%	−0.23 pp	6 q
unresolvedWellpoint Inc	1.39%	5,292,251	$633M	added+2%	+0.18 pp	6 q
MCOMoody's Corporation	1.29%	6,211,896	$587M	added+1%	+0.13 pp	6 q
HOGHarley-Davidson, Inc.	1.26%	9,906,735	$577M	added+1%	−0.22 pp	6 q
MKLMarkel Group Inc.	1.23%	879,294	$559M	added+1%	−0.01 pp	6 q
FRCBFirst Republic Bk CA	1.22%	11,241,758	$555M	added+3%	−0.08 pp	6 q
MTBM&T Bank Corp.	1.22%	4,520,805	$557M	added+1%	+0.02 pp	6 q
SGENSeagen Inc.	1.20%	14,703,706	$547M	added+12%	+0.12 pp	6 q
BAPCredicorp LTD	1.16%	3,448,748	$529M	trimmed−1%	−0.01 pp	6 q
unresolvedNew Oriental Ed & Tech Grp I	1.15%	22,555,147	$523M	trimmed−3%	−0.18 pp	6 q
EOGEOG Resources, Inc.	1.11%	5,117,037	$507M	trimmed−4%	−0.23 pp	6 q
EBAYeBay Inc	1.06%	8,513,426	$482M	trimmed−65%	−1.56 pp	6 q
SSYSStratasys Inc (ISRAEL)	1.01%	3,817,027	$461M	added0%	+0.07 pp	6 q
EMBJEmbraer S.A.	0.97%	11,241,747	$441M	trimmed−1%	+0.07 pp	6 q
unresolvedRyanair Holdings PLC ADR	0.97%	7,875,523	$444M	added+5%	+0.06 pp	6 q
SPLKSplunk Inc	0.95%	7,850,071	$435M	added+34%	+0.25 pp	4 q
TWTRTwitter, Inc.	0.95%	8,426,676	$435M	added+35%	+0.40 pp	4 q
MLMMartin Marietta Materials	0.92%	3,253,511	$420M	added+42%	+0.27 pp	6 q
WDAYWorkday, Inc. Class A	0.90%	4,990,842	$412M	added+35%	+0.18 pp	6 q
AAPLApple Inc.	0.85%	3,857,665	$389M	trimmed−55%	−0.88 pp	6 q
AXPAmerican Express Company	0.79%	4,111,467	$360M	added+1%	−0.04 pp	5 q
MYGNMyriad Genetics Inc	0.76%	8,983,903	$347M	added+2%	+0.02 pp	5 q
UPLUltra Petroleum Corp	0.75%	14,701,834	$342M	added+2%	−0.17 pp	6 q
CLColgate-Palmolive Company	0.74%	5,195,102	$339M	trimmed−4%	−0.06 pp	6 q
ITUBItau Unibanco Holding S.A.	0.73%	23,952,649	$332M	trimmed−34%	−0.39 pp	6 q
VVISA Inc.	0.71%	1,517,733	$324M	added+2%	+0.03 pp	6 q
KMXCarMax Inc.	0.69%	6,813,010	$316M	added+2%	−0.06 pp	6 q
DNOWDNOW Inc.	0.69%	10,333,485	$314M	added×3.9	+0.48 pp	2 q
DLBDolby Laboratories, Inc.Class A	0.68%	7,387,647	$309M	added+2%	+0.01 pp	6 q
FLIRFLIR Systems, Inc. (DE)	0.66%	9,564,174	$300M	added+3%	−0.04 pp	6 q
MAMastercard Incorporated	0.66%	4,083,127	$302M	added+3%	+0.03 pp	6 q
NYCBFlagstar Bank, National Association	0.65%	18,718,004	$297M	added+2%	+0.02 pp	6 q
JDJD.com, Inc.	0.62%	11,038,300	$285M	added×3.5	+0.43 pp	2 q
LECOLincoln Electric Holdings Inc	0.62%	4,068,554	$281M	added+3%	+0.03 pp	6 q
WATWaters Corp	0.62%	2,851,683	$283M	added+2%	−0.01 pp	6 q
unresolvedMindray Medical International ADR	0.61%	9,224,049	$278M	added+3%	0.00 pp	6 q
XLNXXilinx Inc	0.60%	6,502,473	$275M	added+2%	−0.05 pp	6 q
QCOMQualcomm Inc	0.58%	3,532,016	$264M	added+3%	−0.01 pp	5 q
TERTeradyne, Inc.	0.58%	13,547,198	$263M	added+3%	+0.02 pp	6 q
CXCemex S.A.B. de C.V.	0.55%	19,146,898	$250M	trimmed−5%	−0.03 pp	6 q
RBARB Global, Inc.	0.55%	11,260,569	$252M	added+2%	−0.04 pp	6 q
PXGBXPraxair Inc	0.48%	1,705,449	$220M	added+1%	−0.01 pp	6 q
JNJJohnson & Johnson	0.42%	1,792,528	$191M	trimmed−15%	−0.06 pp	6 q
BRK.BBERKSHIRE HATHAWAY Class B	0.37%	1,226,153	$169M	trimmed−27%	−0.09 pp	6 q
HHCThe Howard Hughes Corporation	0.31%	949,500	$142M	added+2%	−0.01 pp	3 q
MTDMettler-Toledo International	0.31%	543,839	$139M	added+5%	+0.03 pp	6 q
SQMSociedad Quimica y Minera de Chile SA	0.31%	5,329,018	$139M	added+1%	−0.02 pp	6 q
unresolvedQiagen N.V	0.30%	5,930,588	$135M	added+2%	−0.01 pp	6 q
NBISNebius Group N.V. Class A	0.28%	4,623,400	$129M	added×2.6	+0.14 pp	3 q
unresolvedCoca Cola Enterprises Inc Ne	0.27%	2,746,240	$122M	added+10%	+0.01 pp	6 q
IBNICICI Bank Limited	0.27%	2,541,120	$125M	added+3%	0.00 pp	6 q
unresolvedKraft Foods Group Inc	0.27%	2,144,554	$121M	trimmed−8%	−0.03 pp	6 q
UPSUnited Parcel Service, Inc. Class B	0.27%	1,263,257	$124M	trimmed−8%	−0.03 pp	6 q
unresolvedVale S.A. PFD	0.25%	11,790,300	$114M	added+1%	−0.05 pp	6 q
unresolvedYouku Inc ADR	0.24%	6,087,099	$109M	trimmed−9%	−0.11 pp	6 q
PSMTPricesmart Inc	0.23%	1,219,773	$104M	added+49%	+0.08 pp	6 q
USBU.S. Bancorp	0.22%	2,419,332	$101M	trimmed−22%	−0.07 pp	6 q
AMXNAmerica Movil-spn ADR Cl L	0.21%	3,755,904	$95M	trimmed−14%	+0.01 pp	6 q
TDCTeradata Corporation	0.21%	2,235,659	$94M	added+3%	+0.02 pp	6 q
ALNYAlnylam Pharmaceuticals, Inc.	0.20%	1,190,930	$93M	held	—	6 q
BF.BBrown-Forman Corporation Class B	0.20%	1,007,247	$91M	trimmed−18%	−0.05 pp	6 q
WSOWatsco, Inc.	0.19%	984,748	$85M	trimmed−3%	−0.04 pp	6 q
MKTXMarketAxess Holdings Inc.	0.18%	1,342,776	$83M	added0%	+0.02 pp	6 q
ORCLOracle Corp	0.18%	2,149,419	$82M	added+46%	+0.05 pp	5 q
CVECenovus Energy Inc.	0.17%	2,848,140	$77M	added+5%	−0.02 pp	6 q
PGRProgressive Corporation	0.17%	3,153,183	$80M	trimmed−8%	−0.02 pp	6 q
9990302DApache Corp	0.15%	716,074	$67M	trimmed−35%	−0.09 pp	6 q
DHRDanaher Corporation	0.15%	908,895	$69M	trimmed−24%	−0.05 pp	6 q
PEPPepsiCo, Inc.	0.15%	753,927	$70M	trimmed−0%	0.00 pp	6 q
MOAltria Group, Inc.	0.13%	1,276,390	$59M	new	+0.13 pp	new
unresolvedMonsanto Co	0.13%	523,084	$59M	trimmed−3%	−0.02 pp	6 q
ORLYO'Reilly Automotive, Inc.	0.13%	383,552	$58M	added×2.8	+0.09 pp	6 q
GHDXGenomic Health, Inc.	0.12%	1,864,206	$53M	added+34%	+0.04 pp	6 q
ARCOArcos Dorados Holdings Inc.	0.11%	8,318,074	$50M	added+1%	−0.09 pp	6 q
SOHUNSohu.com Inc	0.10%	879,397	$44M	trimmed−21%	−0.04 pp	6 q
MCDMcDonald's Corporation	0.09%	411,464	$39M	held	—	6 q
unresolvedPriceline Grp Inc	0.09%	36,658	$42M	added+32%	+0.02 pp	6 q
TJXTJX Companies, Inc. (The)	0.09%	707,714	$42M	trimmed−15%	−0.01 pp	6 q
unresolvedZillow	0.09%	351,396	$41M	trimmed−1%	−0.02 pp	6 q
CPACopa Holdings, S.A.	0.09%	365,882	$39M	trimmed−11%	−0.04 pp	6 q
unresolvedIHS Inc 'A'	0.08%	277,831	$35M	trimmed−7%	−0.01 pp	6 q
LTMLATAM Airlines Group S.A.	0.08%	3,359,444	$38M	trimmed−12%	−0.03 pp	3 q
unresolvedBurger King Worldwide Inc	0.07%	1,150,900	$34M	held	—	6 q
MSFTMicrosoft Corp	0.07%	732,754	$34M	trimmed−0%	0.00 pp	6 q
JFRNuveen Floating Rate Income Fund	0.07%	2,750,000	$31M	held	—	4 q
ROKRockwell Automation, Inc.	0.07%	270,638	$30M	trimmed−19%	−0.02 pp	6 q
AMATApplied Materials Inc	0.06%	1,244,157	$27M	added+22%	+0.01 pp	4 q
BXKBancolombia S.a.-spons ADR	0.06%	452,683	$26M	trimmed−33%	−0.02 pp	3 q
CCUCompania Cervecerias Unidas S.A.	0.06%	1,140,808	$25M	trimmed−11%	0.00 pp	5 q
EFTEaton Vance Floating-Rate Income Trust	0.06%	1,872,000	$27M	held	—	4 q
IMAXImax Corp	0.06%	961,610	$26M	held	—	6 q
INFYInfosys Limited	0.06%	443,400	$27M	added+8%	+0.01 pp	3 q
AWRAmerican States Water Company	0.05%	710,000	$22M	held	—	5 q
AWKAmerican Water Works Company, Inc	0.05%	500,000	$24M	held	—	5 q
unresolvedAqua America	0.05%	907,500	$21M	held	—	5 q
CWTCalifornia Water Service	0.05%	970,000	$22M	held	—	5 q
CSLTCastlight Health, Inc.	0.05%	1,794,820	$23M	held	—	3 q
unresolvedFinancial Engines	0.05%	709,900	$24M	added+8%	−0.01 pp	3 q
INGRIngredion Incorporated	0.05%	282,100	$21M	new	+0.05 pp	new
IRBTiRobot Corporation	0.05%	823,100	$25M	held	—	6 q
PMPhilip Morris International Inc.	0.05%	272,709	$23M	held	—	6 q
VMCVulcan Materials Company(Holding Company)	0.05%	393,870	$24M	added+30%	+0.01 pp	2 q
unresolvedZulily Inc	0.05%	572,100	$22M	held	—	4 q
ADIAnalog Devices, Inc.	0.04%	371,218	$18M	trimmed−58%	−0.06 pp	6 q
KOCoca-Cola Company	0.04%	422,420	$18M	held	—	3 q
IDXXIdexx Laboratories Inc	0.04%	145,848	$17M	trimmed−54%	−0.05 pp	6 q
unresolvedLinear Technology Group	0.04%	457,077	$20M	trimmed−59%	−0.07 pp	6 q
unresolvedSolarCity Corp	0.04%	312,900	$19M	held	—	2 q
unresolvedNorth Atlantic Drilling	0.04%	2,688,128	$18M	trimmed−6%	−0.03 pp	3 q
unresolvedApollo Senior Floating Rate Fund Inc	0.03%	760,000	$13M	held	—	4 q
BGTBlackRock Floating Rate Income Trust	0.03%	1,150,000	$16M	held	—	4 q
EVFEaton Vance Senior Income Trust	0.03%	1,885,000	$12M	held	—	4 q
XOMExxon Mobil Corp	0.03%	141,581	$13M	held	—	6 q
unresolvedNuveen Senior Income Fund	0.03%	1,915,000	$13M	held	—	4 q
PLXProtalix BioTherapeutics, Inc.	0.03%	6,510,158	$16M	added+2%	−0.02 pp	6 q
unresolvedReynolds American	0.03%	197,540	$12M	held	—	6 q
SLBSLB Limited	0.03%	119,127	$12M	held	—	5 q
unresolvedSilver Wheaton (Nys)	0.03%	596,900	$12M	held	—	6 q
WMTWalmart Inc.	0.03%	176,055	$13M	held	—	5 q
AVAVAeroVironment, Inc.	0.02%	263,710	$8M	trimmed−8%	0.00 pp	6 q
unresolvedAltera Corp	0.02%	251,353	$9M	trimmed−5%	0.00 pp	6 q
ADPAutomatic Data Processing	0.02%	125,473	$10M	held	—	5 q
2663134DBitauto Holdings Ltd-adr	0.02%	103,990	$8M	trimmed−43%	0.00 pp	4 q
DXCMDexCom, Inc.	0.02%	279,760	$11M	trimmed−13%	−0.01 pp	6 q
DCIDonaldson Company, Inc.	0.02%	253,959	$10M	held	—	5 q
EPAMEpam Systems, Inc.	0.02%	189,900	$8M	held	—	6 q
FAROFaro Technologies Inc	0.02%	139,080	$7M	held	—	6 q
FASTFastenal Co	0.02%	226,762	$10M	held	—	5 q
FFIVF5, Inc.	0.02%	86,348	$10M	trimmed−54%	−0.02 pp	6 q
GSGoldman Sachs Group Inc.	0.02%	58,882	$11M	new	+0.02 pp	new
HEIHEICO Corporation	0.02%	206,575	$10M	added0%	0.00 pp	5 q
HDHome Depot, Inc.	0.02%	107,953	$10M	held	—	6 q
IPGPIPG Photonics Corporation	0.02%	153,740	$11M	held	—	6 q
unresolvedNovadaq Technologies Inc	0.02%	664,480	$8M	held	—	6 q
OCNOnity Group Inc.	0.02%	405,300	$11M	held	—	4 q
PFEPfizer Inc.	0.02%	340,673	$10M	trimmed−88%	−0.16 pp	6 q
XPHDXPioneer Floating Rate Fund	0.02%	850,000	$10M	held	—	4 q
PWRQuanta Services, Inc.	0.02%	262,040	$10M	held	—	6 q
unresolvedQunar ADR	0.02%	372,000	$10M	trimmed−3%	0.00 pp	4 q
REGNRegeneron Pharmaceuticals Inc	0.02%	20,600	$7M	trimmed−44%	0.00 pp	6 q
SHWThe Sherwin-Williams Company	0.02%	41,972	$9M	held	—	5 q
TIFTiffany & Co.	0.02%	106,715	$10M	held	—	5 q
unresolvedU S G Corp	0.02%	373,600	$10M	held	—	2 q
VARVarian Medical Systems, Inc.	0.02%	100,667	$8M	held	—	5 q
BCRHBlue Capital Reinsurance Hol	0.02%	629,438	$11M	held	—	4 q
ACTGAcacia Research Corporation	0.01%	365,820	$6M	added+20%	0.00 pp	6 q
unresolvedArm Hdg.Spn.Adr	0.01%	71,451	$3M	new	+0.01 pp	new
BBDBanco Bradesco S.A.	0.01%	262,350	$4M	trimmed−57%	−0.01 pp	6 q
BRK.ABerkshire Hathaway Inc.	0.01%	15	$3M	held	—	6 q
BMYBristol-Myers Squibb Co.	0.01%	126,707	$6M	trimmed−5%	0.00 pp	6 q
CHRWC.H. Robinson Worldwide, Inc.	0.01%	97,968	$6M	held	—	5 q
DISThe Walt Disney Company	0.01%	68,900	$6M	trimmed−98%	−0.61 pp	6 q
unresolvedExa Corp	0.01%	369,630	$4M	held	—	4 q
unresolvedFEI Company	0.01%	43,700	$3M	trimmed−32%	0.00 pp	6 q
unresolvedFoundation Medicine	0.01%	165,000	$3M	new	+0.01 pp	new
unresolvedGeneral Cable Corp	0.01%	208,376	$3M	held	—	6 q
unresolvedIntralinks Holdings	0.01%	407,220	$3M	added+8%	0.00 pp	6 q
unresolvedJohnson Controls	0.01%	107,771	$5M	held	—	5 q
JMEINJumei International-adr	0.01%	149,740	$4M	added×7.5	+0.01 pp	2 q
MCHPMicrochip Technology Inc	0.01%	82,660	$4M	held	—	5 q
POWIPower Integrations Inc	0.01%	62,680	$3M	held	—	6 q
RIORio Tinto plc	0.01%	70,626	$3M	new	+0.01 pp	new
unresolvedSenomyx	0.01%	578,000	$5M	new	+0.01 pp	new
STMPStamps.com, Inc.	0.01%	194,150	$6M	held	—	6 q
TEVATeva Pharmaceutical Industries Limited	0.01%	69,350	$4M	held	—	6 q
TYGTortoise Energy Infrastructure Corp.	0.01%	122,894	$6M	trimmed−42%	−0.01 pp	6 q
TRQTurquoise Hill Resources Ltd	0.01%	1,703,810	$6M	held	—	4 q
unresolvedWestport Innovations Inc US	0.01%	593,789	$6M	held	—	6 q
HLFHerbalife Ltd.	0.01%	83,000	$4M	trimmed−50%	−0.01 pp	3 q
MMYTMakeMyTrip Limited	0.01%	202,748	$6M	held	—	5 q
AMEDAmedisys Inc	0.00%	19,129	$386,000	held	—	6 q
AIGAmerican International Group, Inc.	0.00%	1,700	$92,000	held	—	6 q
unresolvedApollo Group Inc Class A	0.00%	4,200	$106,000	held	—	6 q
BBBlackBerry Limited	0.00%	38,502	$385,000	held	—	5 q
unresolvedBlyth Inc	0.00%	9,000	$73,000	held	—	3 q
CECOPerdoceo Education Corporation	0.00%	98,062	$498,000	held	—	6 q
unresolvedEllie Mae	0.00%	21,000	$685,000	held	—	5 q
RAILFreightCar America, Inc.	0.00%	4,165	$139,000	held	—	6 q
ESINQItt Educational Svcs Inc	0.00%	40,202	$172,000	added×2.4	0.00 pp	6 q
ACWIiShares MSCI ACWI ETF	0.00%	29,353	$2M	held	—	5 q
unresolvedMedgenics	0.00%	360,650	$2M	held	—	6 q
NOAHNoah Holdings Limited	0.00%	140,150	$2M	held	—	6 q
unresolvedNovacopper Inc	0.00%	47,000	$44,000	held	—	6 q
QNSTQuinStreet, Inc.	0.00%	7,500	$31,000	new	0.00 pp	new
RBCAARepublic Bancorp Inc/KY	0.00%	100	$2,000	held	—	6 q
SKMSK Telecom Co., Ltd.	0.00%	37,080	$1M	held	—	4 q
unresolvedShanda Games Adr 1:2 'A'	0.00%	46,300	$303,000	held	—	6 q
unresolvedWuxi Pharmatech Adr	0.00%	2,433	$85,000	new	0.00 pp	new
NTPIFNam Tai Property Inc	0.00%	11,700	$71,000	held	—	2 q
DEDeere & Company	—	−1,799,561	—	exited	−0.35 pp	—
unresolvedOpentable	—	−70,400	—	exited	−0.02 pp	—
unresolvedAngie's List	—	−477,930	—	exited	−0.01 pp	—
unresolvedAutonavi Holdings ADR	—	−310,380	—	exited	−0.01 pp	—
unresolvedCuris	—	−3,154,100	—	exited	−0.01 pp	—
NDSNNordson Corp	—	−60,000	—	exited	−0.01 pp	—
unresolvedWsp Holdings Ltd-adr	—	−90,400	—	exited	0.00 pp	—
unresolvedYongye International Inc	—	−28,400	—	exited	0.00 pp	—