Baillie Gifford

Q2 2015 13F

As of: Jun 30, 2015
Filed: Jul 28, 2015
US stock: $55.6B · prev $52.8B
Positions: 206 · prev 207
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%

Moves159 since the prior filing

+3.1 pp in · −3.1 pp out

New 11 +0.40 pp
Added 69 +2.72 pp
Trimmed 67 −2.60 pp
Exited 12 −0.46 pp

The book

Focused · behaves like 33 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 11% a year, about 8.9 years per position

Low
Moderate
High

Top 5 positions31% of US stock

BIDU Baidu, Inc. added−0.23 pp added−0.238.5%
AMZN Amazon.Com Inc trimmed+0.69 pp trimmed+0.698.4%
ILMN Illumina Inc trimmed+0.52 pp trimmed+0.525.2%
BABA Alibaba Group Holding Limited added+0.76 pp added+0.765.0%
META Meta Platforms, Inc. Class A trimmed−0.08 pp trimmed−0.083.7%

Positions206 in this filing · 12 exited


BIDUBaidu, Inc.	8.50%	23,738,446	$4.7B	added+7%	−0.23 pp	9 q
AMZNAmazon.Com Inc	8.45%	10,823,110	$4.7B	trimmed−2%	+0.69 pp	9 q
ILMNIllumina Inc	5.19%	13,218,816	$2.9B	trimmed−1%	+0.52 pp	9 q
BABAAlibaba Group Holding Limited	4.96%	33,551,048	$2.8B	added+26%	+0.76 pp	4 q
METAMeta Platforms, Inc. Class A	3.74%	24,241,559	$2.1B	trimmed−1%	−0.08 pp	9 q
GOOGAlphabet Inc. Class C	3.60%	3,843,130	$2.0B	added0%	−0.38 pp	5 q
TSLATesla, Inc.	3.60%	7,458,630	$2.0B	added+6%	+1.09 pp	9 q
unresolvedFiat Chrysler Automobiles NV s	3.19%	121,253,853	$1.8B	trimmed−2%	−0.63 pp	3 q
ISRGIntuitive Surgical Inc.	2.09%	2,400,713	$1.2B	trimmed−0%	−0.21 pp	9 q
RCLRoyal Caribbean Group	2.07%	14,655,537	$1.2B	trimmed−1%	−0.22 pp	9 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	1.84%	44,951,687	$1.0B	added+5%	−0.06 pp	9 q
MELIMercado Libre, Inc	1.67%	6,571,841	$931M	trimmed−0%	+0.14 pp	9 q
ELVElevance Health, Inc.	1.57%	5,307,974	$871M	trimmed−9%	−0.14 pp	3 q
CTRPTrip.com Group Limited	1.50%	11,452,919	$832M	trimmed−0%	+0.23 pp	9 q
TRIPTripAdvisor, Inc.	1.50%	9,541,798	$831M	added+4%	+0.05 pp	9 q
MKLMarkel Group Inc.	1.41%	978,353	$783M	added+3%	+0.03 pp	9 q
AMTTd Ameritrade Holding Corp	1.37%	20,703,330	$762M	added+2%	−0.07 pp	9 q
SGENSeagen Inc.	1.32%	15,161,292	$734M	trimmed−1%	+0.30 pp	9 q
FRCBFirst Republic Bk CA	1.29%	11,421,293	$720M	trimmed−0%	+0.05 pp	9 q
unresolvedLinkedin Corp Cl A	1.22%	3,284,137	$679M	trimmed−0%	−0.34 pp	9 q
MTBM&T Bank Corp.	1.14%	5,091,681	$636M	added+2%	−0.06 pp	9 q
unresolvedBluebird Bio Inc	1.12%	3,697,412	$623M	added×2.9	+0.83 pp	2 q
CRMSalesforce, Inc.	1.09%	8,708,571	$606M	trimmed−1%	−0.02 pp	9 q
unresolvedRyanair Holdings PLC ADR	1.08%	8,430,996	$602M	added0%	+0.02 pp	9 q
JDJD.com, Inc.	1.05%	17,133,420	$584M	added+17%	+0.23 pp	5 q
MAMastercard Incorporated	1.01%	6,010,063	$562M	added+6%	+0.09 pp	9 q
MCOMoody's Corporation	1.00%	5,138,543	$555M	added+3%	+0.02 pp	9 q
EBAYeBay Inc	0.99%	9,116,879	$549M	added+2%	+0.02 pp	9 q
HOGHarley-Davidson, Inc.	0.99%	9,769,625	$551M	trimmed−7%	−0.22 pp	9 q
SPLKSplunk Inc	0.98%	7,816,039	$544M	trimmed−0%	+0.10 pp	7 q
KMXCarMax Inc.	0.96%	8,049,077	$533M	added+4%	−0.05 pp	9 q
unresolvedWhole Foods Market	0.94%	13,295,725	$524M	trimmed−22%	−0.75 pp	9 q
WATWaters Corp	0.87%	3,774,829	$485M	added+20%	+0.13 pp	9 q
MLMMartin Marietta Materials	0.86%	3,389,973	$480M	added+1%	−0.03 pp	9 q
BAPCredicorp LTD	0.85%	3,386,077	$470M	trimmed−0%	−0.05 pp	9 q
EOGEOG Resources, Inc.	0.84%	5,349,493	$468M	added+3%	−0.06 pp	9 q
NFLXNetFlix Inc	0.80%	675,840	$444M	added+8%	+0.31 pp	2 q
VVISA Inc.	0.77%	6,361,844	$427M	trimmed−1%	−0.03 pp	9 q
WDAYWorkday, Inc. Class A	0.70%	5,086,360	$389M	added+1%	−0.10 pp	9 q
LCHappen, Inc.	0.68%	25,532,527	$377M	added×2.1	+0.23 pp	3 q
CLColgate-Palmolive Company	0.67%	5,701,027	$373M	added+3%	−0.06 pp	9 q
EMBJEmbraer S.A.	0.67%	12,328,806	$373M	added0%	−0.05 pp	9 q
MYGNMyriad Genetics Inc	0.63%	10,375,758	$353M	added+5%	−0.04 pp	8 q
AXPAmerican Express Company	0.62%	4,445,698	$346M	added+1%	−0.03 pp	8 q
CHRWC.H. Robinson Worldwide, Inc.	0.62%	5,504,058	$343M	added+47%	+0.10 pp	8 q
unresolvedMonsanto Co	0.60%	3,123,060	$333M	trimmed−0%	−0.07 pp	9 q
DLBDolby Laboratories, Inc.Class A	0.59%	8,269,867	$328M	added+4%	+0.01 pp	9 q
RBARB Global, Inc.	0.58%	11,500,353	$321M	trimmed−3%	+0.02 pp	9 q
TWTRTwitter, Inc.	0.58%	8,895,503	$322M	added+1%	−0.26 pp	7 q
XLNXXilinx Inc	0.58%	7,323,226	$323M	added+2%	+0.01 pp	9 q
CXCemex S.A.B. de C.V.	0.54%	32,961,557	$302M	added0%	−0.03 pp	9 q
TERTeradyne, Inc.	0.53%	15,282,996	$295M	added+3%	0.00 pp	9 q
unresolvedMindray Medical International ADR	0.52%	10,224,614	$291M	added+3%	+0.01 pp	9 q
FLIRFLIR Systems, Inc. (DE)	0.51%	9,241,239	$285M	trimmed−11%	−0.11 pp	9 q
LECOLincoln Electric Holdings Inc	0.51%	4,680,031	$285M	added+4%	−0.05 pp	9 q
QCOMQualcomm Inc	0.50%	4,398,403	$275M	added+9%	−0.03 pp	8 q
DNOWDNOW Inc.	0.49%	13,665,152	$272M	trimmed−1%	−0.08 pp	5 q
ITUBItau Unibanco Holding S.A.	0.48%	24,607,256	$269M	added+4%	−0.01 pp	9 q
unresolvedNew Oriental Ed & Tech Grp I	0.46%	10,390,598	$255M	trimmed−53%	−0.47 pp	9 q
PXGBXPraxair Inc	0.42%	1,955,178	$234M	added+4%	−0.01 pp	9 q
CPACopa Holdings, S.A.	0.40%	2,662,770	$220M	trimmed−5%	−0.13 pp	9 q
unresolvedFinancial Engines	0.39%	5,086,351	$216M	added+7%	+0.01 pp	6 q
UPLUltra Petroleum Corp	0.38%	17,097,051	$214M	added+9%	−0.08 pp	9 q
MTDMettler-Toledo International	0.36%	582,926	$199M	added+13%	+0.04 pp	9 q
SSYSStratasys Inc (ISRAEL)	0.32%	5,061,990	$177M	added0%	−0.19 pp	9 q
unresolvedQiagen N.V	0.31%	6,945,272	$172M	added+7%	0.00 pp	9 q
unresolvedLeucadia National	0.30%	6,906,825	$168M	added+2%	+0.02 pp	3 q
HHCThe Howard Hughes Corporation	0.29%	1,110,091	$159M	added+7%	−0.02 pp	6 q
QSRRestaurant Brands International Inc.	0.29%	4,146,432	$159M	added×4.5	+0.22 pp	3 q
ZGZillow Group Inc Class A	0.29%	1,847,951	$160M	trimmed−2%	−0.07 pp	2 q
IBNICICI Bank Limited	0.28%	14,805,064	$154M	added+2%	−0.01 pp	9 q
MKTXMarketAxess Holdings Inc.	0.27%	1,642,688	$152M	added+10%	+0.04 pp	9 q
AAPLApple Inc.	0.26%	1,157,929	$145M	held	—	9 q
WSOWatsco, Inc.	0.25%	1,104,055	$137M	trimmed−2%	−0.02 pp	9 q
unresolvedCoca Cola Enterprises Inc Ne	0.24%	3,058,337	$133M	added+25%	+0.04 pp	9 q
PSMTPricesmart Inc	0.23%	1,422,267	$130M	added+1%	0.00 pp	9 q
unresolvedYouku Inc ADR	0.23%	5,119,492	$126M	added0%	+0.11 pp	9 q
BRK.BBERKSHIRE HATHAWAY Class B	0.22%	884,268	$120M	trimmed−6%	−0.04 pp	9 q
PEPPepsiCo, Inc.	0.22%	1,306,538	$122M	trimmed−12%	−0.05 pp	9 q
2663134DBitauto Holdings Ltd-adr	0.20%	2,124,687	$108M	trimmed−1%	−0.01 pp	7 q
CNHCnh Industrial N.v.	0.19%	11,496,041	$105M	trimmed−4%	+0.01 pp	3 q
unresolvedGoogle Inc.	0.18%	182,858	$99M	added+4%	−0.01 pp	9 q
USBU.S. Bancorp	0.18%	2,328,254	$101M	trimmed−3%	−0.02 pp	9 q
ALNYAlnylam Pharmaceuticals, Inc.	0.17%	791,750	$95M	trimmed−23%	−0.03 pp	9 q
ORCLOracle Corp	0.17%	2,345,370	$95M	trimmed−2%	−0.03 pp	8 q
NBISNebius Group N.V. Class A	0.17%	6,069,533	$92M	trimmed−6%	−0.02 pp	6 q
unresolvedQunar ADR	0.16%	2,027,724	$87M	added+57%	+0.06 pp	7 q
UPSUnited Parcel Service, Inc. Class B	0.15%	839,614	$81M	trimmed−1%	−0.01 pp	9 q
DHRDanaher Corporation	0.14%	879,473	$75M	trimmed−2%	0.00 pp	9 q
HDBHDFC Bank Limited	0.13%	1,232,305	$75M	added+3%	0.00 pp	2 q
ATHMAutohome Inc.	0.12%	1,331,587	$67M	new	+0.12 pp	new
unresolvedSeadrill	0.12%	6,572,801	$68M	added+93%	+0.06 pp	3 q
CMGChipotle Mexican Grill, Inc.	0.09%	83,221	$50M	new	+0.09 pp	new
GHDXGenomic Health, Inc.	0.08%	1,570,368	$44M	trimmed−17%	−0.03 pp	9 q
HIMXHimax Technologies, Inc.	0.08%	5,820,395	$47M	new	+0.08 pp	new
INFYInfosys Limited	0.08%	2,961,913	$47M	trimmed−18%	−0.04 pp	6 q
ORLYO'Reilly Automotive, Inc.	0.08%	202,860	$46M	trimmed−51%	−0.09 pp	9 q
VMCVulcan Materials Company(Holding Company)	0.08%	529,341	$44M	trimmed−10%	−0.01 pp	5 q
ARCOArcos Dorados Holdings Inc.	0.08%	8,485,836	$45M	trimmed−2%	0.00 pp	9 q
AMATApplied Materials Inc	0.07%	2,048,736	$39M	added+11%	−0.01 pp	7 q
9990302DApache Corp	0.06%	626,981	$36M	trimmed−3%	−0.01 pp	9 q
IDXXIdexx Laboratories Inc	0.06%	492,496	$32M	trimmed−7%	−0.02 pp	9 q
VVRInvesco Senior Income Trust	0.06%	7,599,118	$34M	added+65%	+0.02 pp	3 q
BF.BBrown-Forman Corporation Class B	0.05%	250,631	$25M	trimmed−3%	+0.01 pp	9 q
EFTEaton Vance Floating-Rate Income Trust	0.05%	1,872,000	$26M	held	—	7 q
TVGrupo Televisa S.A.	0.05%	755,200	$29M	added×10.1	+0.05 pp	3 q
JFRNuveen Floating Rate Income Fund	0.05%	2,750,000	$30M	held	—	7 q
ADIAnalog Devices, Inc.	0.04%	370,375	$24M	held	—	9 q
KOCoca-Cola Company	0.04%	613,120	$24M	held	—	6 q
FASTFastenal Co	0.04%	503,073	$21M	added×2.2	+0.02 pp	8 q
unresolvedGrubhub Inc	0.04%	718,000	$24M	new	+0.04 pp	new
IRBTiRobot Corporation	0.04%	664,700	$21M	trimmed−17%	−0.01 pp	9 q
LTRPALiberty TripAdvisor Holdings, Inc. Series A	0.04%	648,416	$21M	trimmed−6%	0.00 pp	2 q
unresolvedLinear Technology Group	0.04%	457,801	$20M	held	—	9 q
NYCBFlagstar Bank, National Association	0.04%	1,088,739	$20M	held	—	9 q
PMPhilip Morris International Inc.	0.04%	272,709	$22M	held	—	9 q
TJXTJX Companies, Inc. (The)	0.04%	338,916	$22M	trimmed−44%	−0.04 pp	9 q
BGTBlackRock Floating Rate Income Trust	0.03%	1,150,000	$15M	held	—	7 q
SAMBoston Beer Company	0.03%	65,968	$15M	trimmed−4%	0.00 pp	3 q
BMYBristol-Myers Squibb Co.	0.03%	264,077	$18M	trimmed−4%	0.00 pp	9 q
CSLTCastlight Health, Inc.	0.03%	1,794,820	$15M	held	—	6 q
ETSYEtsy, Inc.	0.03%	1,294,307	$18M	new	+0.03 pp	new
GSGoldman Sachs Group Inc.	0.03%	74,687	$16M	added+27%	+0.01 pp	4 q
JNJJohnson & Johnson	0.03%	170,066	$17M	trimmed−78%	−0.12 pp	9 q
MCDMcDonald's Corporation	0.03%	168,518	$16M	held	—	9 q
MSFTMicrosoft Corp	0.03%	395,050	$17M	trimmed−46%	−0.03 pp	9 q
XPHDXPioneer Floating Rate Fund	0.03%	1,230,000	$14M	held	—	7 q
unresolvedSolarCity Corp	0.03%	312,900	$17M	held	—	5 q
unresolvedVoya Prime Rate Trust	0.03%	3,594,676	$19M	held	—	3 q
unresolvedApollo Senior Floating Rate Fund Inc	0.02%	681,426	$12M	trimmed−10%	−0.01 pp	7 q
ADPAutomatic Data Processing	0.02%	125,473	$10M	held	—	8 q
DXCMDexCom, Inc.	0.02%	142,210	$11M	trimmed−12%	0.00 pp	9 q
DCIDonaldson Company, Inc.	0.02%	253,959	$9M	held	—	8 q
EVFEaton Vance Senior Income Trust	0.02%	1,885,000	$12M	held	—	7 q
EPAMEpam Systems, Inc.	0.02%	182,900	$13M	held	—	9 q
XOMExxon Mobil Corp	0.02%	141,581	$12M	held	—	9 q
HEIHEICO Corporation	0.02%	199,743	$12M	trimmed−0%	0.00 pp	8 q
IPGPIPG Photonics Corporation	0.02%	159,740	$14M	added+4%	−0.01 pp	9 q
unresolvedNovadaq Technologies Inc	0.02%	704,480	$9M	added+6%	0.00 pp	9 q
unresolvedNuveen Senior Income Fund	0.02%	1,915,000	$12M	held	—	7 q
PCARPaccar Inc	0.02%	158,600	$10M	held	—	3 q
PGProcter & Gamble Company	0.02%	137,296	$11M	new	+0.02 pp	new
PGRProgressive Corporation	0.02%	471,481	$13M	held	—	9 q
PLXProtalix BioTherapeutics, Inc.	0.02%	6,481,624	$13M	trimmed−0%	0.00 pp	9 q
REGNRegeneron Pharmaceuticals Inc	0.02%	20,600	$11M	held	—	9 q
unresolvedReynolds American	0.02%	177,130	$13M	trimmed−10%	−0.01 pp	9 q
SLBSLB Limited	0.02%	119,127	$10M	held	—	8 q
STMPStamps.com, Inc.	0.02%	179,150	$13M	held	—	9 q
TIFTiffany & Co.	0.02%	106,715	$10M	held	—	8 q
unresolvedVale S.A. PFD	0.02%	2,661,400	$13M	trimmed−77%	−0.09 pp	9 q
VARVarian Medical Systems, Inc.	0.02%	100,667	$8M	held	—	8 q
BCRHBlue Capital Reinsurance Hol	0.02%	629,438	$11M	held	—	7 q
ACTGAcacia Research Corporation	0.01%	365,820	$3M	held	—	9 q
AVAVAeroVironment, Inc.	0.01%	263,710	$7M	held	—	9 q
unresolvedArm Hdg.Spn.Adr	0.01%	71,451	$4M	held	—	4 q
BIOAQBioamber Inc	0.01%	488,140	$4M	added×10.6	+0.01 pp	2 q
DISThe Walt Disney Company	0.01%	68,900	$8M	held	—	9 q
unresolvedExa Corp	0.01%	419,630	$5M	added+14%	0.00 pp	7 q
unresolvedFEI Company	0.01%	43,700	$4M	held	—	9 q
FAROFaro Technologies Inc	0.01%	139,080	$6M	held	—	9 q
XFCTXFirst Trust Snr FL Rt Inc II	0.01%	610,000	$8M	held	—	3 q
unresolvedFoundation Medicine	0.01%	165,000	$6M	held	—	4 q
IMAXImax Corp	0.01%	106,200	$4M	trimmed−78%	−0.02 pp	9 q
INGRIngredion Incorporated	0.01%	50,000	$4M	trimmed−78%	−0.02 pp	4 q
JMEINJumei International-adr	0.01%	273,348	$6M	added+83%	+0.01 pp	5 q
MCHPMicrochip Technology Inc	0.01%	82,660	$4M	held	—	8 q
unresolvedNational Instrs Corp	0.01%	184,470	$5M	new	+0.01 pp	new
NOAHNoah Holdings Limited	0.01%	140,150	$4M	held	—	9 q
POWIPower Integrations Inc	0.01%	80,680	$4M	held	—	9 q
unresolvedPriceline Grp Inc	0.01%	6,220	$7M	trimmed−75%	−0.05 pp	9 q
RIORio Tinto plc	0.01%	70,626	$3M	held	—	4 q
unresolvedSenomyx	0.01%	578,000	$3M	held	—	4 q
SHWThe Sherwin-Williams Company	0.01%	22,472	$6M	held	—	8 q
unresolvedSoufun Holdings Ltd ADR	0.01%	788,600	$7M	added+1%	0.00 pp	2 q
WMTWalmart Inc.	0.01%	92,635	$7M	held	—	8 q
WITWipro Limited	0.01%	475,200	$6M	new	+0.01 pp	new
unresolvedZulily Inc	0.01%	572,100	$7M	held	—	7 q
GLNGGolar LNG Ltd	0.01%	71,600	$3M	trimmed−77%	−0.01 pp	2 q
MMYTMakeMyTrip Limited	0.01%	202,748	$4M	held	—	8 q
ARLPAlliance Resource Partners LP	0.00%	4,500	$112,000	new	0.00 pp	new
AMEDAmedisys Inc	0.00%	9,929	$394,000	trimmed−23%	0.00 pp	9 q
AIGAmerican International Group, Inc.	0.00%	1,700	$105,000	held	—	9 q
unresolvedApollo Group Inc Class A	0.00%	6,200	$80,000	added+48%	0.00 pp	9 q
BBBlackBerry Limited	0.00%	25,902	$212,000	held	—	8 q
unresolvedBlyth Inc	0.00%	9,000	$57,000	held	—	6 q
CECOPerdoceo Education Corporation	0.00%	98,062	$324,000	held	—	9 q
CLDCloud Peak Energy Inc	0.00%	28,200	$131,000	added×2.0	0.00 pp	2 q
CDXSCodexis, Inc.	0.00%	595,133	$2M	added+20%	0.00 pp	2 q
unresolvedEllie Mae	0.00%	21,000	$1M	held	—	8 q
RAILFreightCar America, Inc.	0.00%	4,165	$87,000	held	—	9 q
ESINQItt Educational Svcs Inc	0.00%	40,202	$160,000	held	—	9 q
unresolvedMedgenics	0.00%	360,650	$2M	held	—	9 q
unresolvedNovacopper Inc	0.00%	47,000	$24,000	held	—	9 q
OCNOnity Group Inc.	0.00%	6,500	$66,000	added×2.7	0.00 pp	2 q
QNSTQuinStreet, Inc.	0.00%	7,500	$48,000	held	—	4 q
SKMSK Telecom Co., Ltd.	0.00%	37,880	$939,000	held	—	7 q
unresolvedShanda Games Adr 1:2 'A'	0.00%	46,300	$319,000	held	—	9 q
unresolvedSilver Wheaton (Nys)	0.00%	90,700	$2M	trimmed−81%	−0.02 pp	9 q
TYGTortoise Energy Infrastructure Corp.	0.00%	51,363	$2M	trimmed−58%	−0.01 pp	9 q
TGLLTransglobe Energy Corp	0.00%	13,400	$53,000	held	—	3 q
unresolvedU S G Corp	0.00%	66,300	$2M	trimmed−78%	−0.02 pp	5 q
VIPSVipshop Holdings Limited	0.00%	2,000	$45,000	new	0.00 pp	new
unresolvedWuxi Pharmatech Adr	0.00%	6,789	$287,000	trimmed−1%	0.00 pp	4 q
NTPIFNam Tai Property Inc	0.00%	16,700	$80,000	held	—	5 q
UBSUBS Group AG	0.00%	129,244	$3M	trimmed−97%	−0.16 pp	2 q
FOMXFoamix Pharmaceuticals Ltd	0.00%	189,400	$2M	new	0.00 pp	new
AMXNAmerica Movil-spn ADR Cl L	—	−3,524,304	—	exited	−0.14 pp	—
SQMSociedad Quimica y Minera de Chile SA	—	−4,159,400	—	exited	−0.14 pp	—
MOAltria Group, Inc.	—	−1,124,231	—	exited	−0.11 pp	—
unresolvedAltera Corp	—	−269,897	—	exited	−0.02 pp	—
unresolvedGeneral Cable Corp	—	−396,286	—	exited	−0.01 pp	—
unresolvedIntralinks Holdings	—	−398,444	—	exited	−0.01 pp	—
PWRQuanta Services, Inc.	—	−121,219	—	exited	−0.01 pp	—
TEVATeva Pharmaceutical Industries Limited	—	−69,350	—	exited	−0.01 pp	—
TRQTurquoise Hill Resources Ltd	—	−1,703,810	—	exited	−0.01 pp	—
BRK.ABerkshire Hathaway Inc.	—	−11	—	exited	0.00 pp	—
LTMLATAM Airlines Group S.A.	—	−180,000	—	exited	0.00 pp	—
unresolvedWestport Innovations Inc US	—	−423,229	—	exited	0.00 pp	—