Baillie Gifford

Q1 2017 13F

As of: Mar 31, 2017
Filed: May 12, 2017
US stock: $68.7B · prev $60.8B
Positions: 200 · prev 198
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

+3.8 pp in · −3.8 pp out

New 13 +0.46 pp
Added 53 +3.38 pp
Trimmed 99 −3.27 pp
Exited 11 −0.53 pp

The book

Focused · behaves like 30 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 7.4% a year, about 13.5 years per position

Low
Moderate
High

Top 5 positions33% of US stock

AMZN Amazon.Com Inc trimmed+0.10 pp trimmed+0.109.3%
BABA Alibaba Group Holding Limited trimmed+0.50 pp trimmed+0.507.5%
BIDU Baidu, Inc. trimmed−0.61 pp trimmed−0.616.1%
TSLA Tesla, Inc. added+0.85 pp added+0.855.5%
META Meta Platforms, Inc. Class A trimmed+0.40 pp trimmed+0.405.0%

Positions200 in this filing · 11 exited


AMZNAmazon.Com Inc	9.28%	7,191,707	$6.4B	trimmed−3%	+0.10 pp	16 q
BABAAlibaba Group Holding Limited	7.53%	47,986,105	$5.2B	trimmed−1%	+0.50 pp	11 q
BIDUBaidu, Inc.	6.06%	24,125,273	$4.2B	trimmed−2%	−0.61 pp	16 q
TSLATesla, Inc.	5.52%	13,625,678	$3.8B	added+3%	+0.85 pp	16 q
METAMeta Platforms, Inc. Class A	4.98%	24,097,108	$3.4B	trimmed−0%	+0.40 pp	16 q
ILMNIllumina Inc	4.66%	18,771,453	$3.2B	added0%	+0.71 pp	16 q
CTRPTrip.com Group Limited	3.69%	51,643,569	$2.5B	added+4%	+0.43 pp	16 q
GOOGAlphabet Inc. Class C	3.60%	2,986,245	$2.5B	trimmed−1%	−0.24 pp	12 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	2.25%	47,094,241	$1.5B	trimmed−2%	−0.03 pp	5 q
NVDANvidia Corp	2.20%	13,881,963	$1.5B	trimmed−2%	−0.28 pp	5 q
MELIMercado Libre, Inc	1.91%	6,223,284	$1.3B	trimmed−2%	+0.27 pp	16 q
RCLRoyal Caribbean Group	1.91%	13,376,268	$1.3B	trimmed−3%	+0.05 pp	16 q
RACEFerrari N.V.	1.90%	17,537,159	$1.3B	trimmed−3%	+0.16 pp	5 q
ISRGIntuitive Surgical Inc.	1.73%	1,546,668	$1.2B	trimmed−1%	+0.10 pp	16 q
NFLXNetFlix Inc	1.63%	7,593,097	$1.1B	added+3%	+0.13 pp	9 q
SGENSeagen Inc.	1.48%	16,196,553	$1.0B	trimmed−2%	+0.04 pp	16 q
ELVElevance Health, Inc.	1.20%	5,000,665	$827M	trimmed−3%	−0.02 pp	10 q
MCOMoody's Corporation	1.13%	6,905,638	$774M	trimmed−3%	+0.03 pp	16 q
AMTTd Ameritrade Holding Corp	1.11%	19,658,045	$764M	trimmed−2%	−0.33 pp	16 q
unresolvedFiat Chrysler Automobiles NV s	1.10%	68,671,893	$753M	trimmed−20%	−0.18 pp	10 q
FRCBFirst Republic Bk CA	1.00%	7,304,289	$685M	trimmed−38%	−0.78 pp	16 q
WDAYWorkday, Inc. Class A	0.95%	7,873,051	$656M	added0%	+0.10 pp	16 q
MLMMartin Marietta Materials	0.94%	2,963,864	$647M	trimmed−8%	−0.24 pp	16 q
MAMastercard Incorporated	0.93%	5,663,108	$637M	trimmed−3%	−0.06 pp	16 q
RYAAYRyanair Holdings plc	0.84%	6,989,357	$580M	trimmed−2%	−0.13 pp	6 q
CRMSalesforce, Inc.	0.84%	6,989,546	$577M	added+1%	+0.06 pp	16 q
VVISA Inc.	0.83%	6,387,013	$568M	trimmed−3%	−0.01 pp	16 q
MKLMarkel Group Inc.	0.79%	557,056	$544M	trimmed−2%	−0.06 pp	16 q
KMXCarMax Inc.	0.77%	8,954,699	$530M	trimmed−2%	−0.20 pp	16 q
DXCMDexCom, Inc.	0.77%	6,212,889	$526M	added+1%	+0.17 pp	16 q
EOGEOG Resources, Inc.	0.76%	5,322,442	$519M	trimmed−2%	−0.15 pp	16 q
TERTeradyne, Inc.	0.73%	16,173,946	$503M	trimmed−3%	+0.04 pp	16 q
unresolvedNew Oriental Ed & Tech Grp I	0.72%	8,217,804	$496M	added+2%	+0.16 pp	16 q
MKTXMarketAxess Holdings Inc.	0.71%	2,618,361	$491M	trimmed−1%	+0.07 pp	16 q
NBISNebius Group N.V. Class A	0.71%	22,308,786	$489M	trimmed−2%	−0.04 pp	13 q
unresolvedBluebird Bio Inc	0.69%	5,204,633	$473M	added+1%	+0.17 pp	9 q
JDJD.com, Inc.	0.68%	15,109,127	$470M	trimmed−13%	−0.05 pp	12 q
WATWaters Corp	0.68%	2,997,137	$468M	trimmed−2%	0.00 pp	16 q
LECOLincoln Electric Holdings Inc	0.64%	5,062,698	$440M	trimmed−2%	−0.01 pp	16 q
TRIPTripAdvisor, Inc.	0.63%	10,099,778	$436M	trimmed−19%	−0.32 pp	16 q
CHRWC.H. Robinson Worldwide, Inc.	0.62%	5,508,717	$426M	trimmed−3%	−0.06 pp	15 q
SPLKSplunk Inc	0.60%	6,610,955	$412M	trimmed−3%	+0.03 pp	14 q
9990302DApache Corp	0.59%	7,868,500	$404M	trimmed−2%	−0.25 pp	16 q
TALTAL Education Group	0.58%	3,716,570	$396M	added+36%	+0.26 pp	5 q
VRSKVerisk Analytics, Inc.	0.58%	4,883,095	$396M	trimmed−2%	−0.09 pp	4 q
unresolvedMobileye Nv	0.57%	6,381,865	$392M	trimmed−2%	+0.16 pp	3 q
RBARB Global, Inc.	0.56%	11,712,381	$385M	trimmed−2%	−0.11 pp	16 q
unresolvedLeucadia National	0.55%	14,415,651	$375M	added×2.1	+0.28 pp	10 q
CLColgate-Palmolive Company	0.54%	5,030,654	$368M	trimmed−7%	−0.04 pp	16 q
WABWabtec Inc.	0.53%	4,645,539	$362M	trimmed−2%	−0.12 pp	5 q
RMDResMed Inc.	0.52%	4,939,074	$355M	trimmed−2%	0.00 pp	3 q
UAAUnder Armour, Inc.	0.51%	17,820,791	$352M	added+2%	−0.33 pp	7 q
unresolvedAtlassian Corp Plc	0.47%	10,793,259	$323M	added+7%	+0.07 pp	4 q
IONSIonis Pharmaceuticals, Inc.	0.46%	7,814,797	$314M	trimmed−7%	−0.20 pp	6 q
unresolvedMonsanto Co	0.46%	2,792,698	$316M	trimmed−2%	−0.03 pp	16 q
MTDMettler-Toledo International	0.45%	639,613	$306M	added+1%	+0.02 pp	16 q
ITUBItau Unibanco Holding S.A.	0.41%	23,573,001	$285M	trimmed−2%	0.00 pp	16 q
CXCemex S.A.B. de C.V.	0.40%	30,362,082	$275M	trimmed−1%	−0.01 pp	16 q
CPACopa Holdings, S.A.	0.40%	2,445,599	$275M	trimmed−1%	+0.03 pp	16 q
unresolvedGrubhub Inc	0.39%	8,242,999	$271M	added+1%	−0.11 pp	8 q
unresolvedJuno Therapeutics Inc	0.36%	11,197,863	$248M	added+1%	+0.02 pp	6 q
unresolvedFinancial Engines	0.35%	5,558,964	$242M	trimmed−3%	0.00 pp	13 q
SRCLStericycle Inc	0.33%	2,738,000	$227M	trimmed−2%	−0.02 pp	5 q
KEXKirby Corporation	0.32%	3,156,535	$223M	trimmed−2%	−0.03 pp	5 q
DNOWDNOW Inc.	0.32%	12,823,140	$217M	trimmed−3%	−0.12 pp	12 q
ABMDAbiomed Inc	0.30%	1,672,435	$209M	added×2.8	+0.19 pp	6 q
unresolvedQiagen N.V	0.30%	7,230,620	$209M	new	+0.30 pp	new
HHCThe Howard Hughes Corporation	0.29%	1,702,698	$200M	trimmed−3%	−0.04 pp	13 q
IBKRInteractive Brokers Group, Inc. Class A	0.29%	5,725,434	$199M	added+4%	−0.04 pp	5 q
QSRRestaurant Brands International Inc.	0.29%	3,555,869	$198M	trimmed−1%	+0.01 pp	10 q
BAPCredicorp LTD	0.29%	1,220,077	$199M	added+30%	+0.05 pp	16 q
MYGNMyriad Genetics Inc	0.28%	9,922,453	$191M	trimmed−2%	0.00 pp	15 q
ALNYAlnylam Pharmaceuticals, Inc.	0.25%	3,334,511	$171M	added+1%	+0.05 pp	16 q
IBNICICI Bank Limited	0.25%	19,604,221	$169M	trimmed−4%	0.00 pp	16 q
BBDBanco Bradesco S.A.	0.23%	15,633,626	$160M	added+12%	+0.03 pp	2 q
PBRPetroleo Brasileiro S.a.-petrobras	0.23%	16,068,940	$156M	added+30%	+0.02 pp	2 q
EMBJEmbraer S.A.	0.21%	6,484,052	$143M	trimmed−1%	0.00 pp	16 q
unresolvedChina Biologic Products Inc	0.20%	1,395,284	$140M	trimmed−1%	−0.05 pp	4 q
ZZillow Group, Inc. Class C	0.19%	3,779,447	$127M	added0%	−0.04 pp	7 q
GOOGLAlphabet Inc. Class A	0.18%	146,413	$124M	added+1%	−0.01 pp	7 q
PSMTPricesmart Inc	0.18%	1,328,340	$122M	trimmed−2%	−0.01 pp	16 q
ATHMAutohome Inc.	0.17%	3,678,246	$117M	trimmed−1%	+0.02 pp	8 q
WSOWatsco, Inc.	0.14%	691,680	$99M	trimmed−3%	−0.03 pp	16 q
WIXWIX.com Ltd.	0.14%	1,421,160	$96M	added+3%	+0.04 pp	6 q
CELGCelgene Corp	0.12%	667,385	$83M	trimmed−1%	−0.01 pp	3 q
MMYTMakeMyTrip Limited	0.12%	2,329,489	$81M	new	+0.12 pp	new
HDBHDFC Bank Limited	0.11%	979,586	$74M	trimmed−2%	+0.01 pp	9 q
INFYInfosys Limited	0.11%	4,823,901	$76M	added+1%	−0.01 pp	13 q
WWayfair Inc.	0.11%	1,812,214	$73M	added+19%	+0.02 pp	7 q
AXPAmerican Express Company	0.10%	902,299	$71M	trimmed−4%	−0.01 pp	15 q
CMGChipotle Mexican Grill, Inc.	0.10%	151,081	$67M	trimmed−2%	0.00 pp	8 q
DATATableau Software, Inc.	0.10%	1,395,284	$69M	trimmed−1%	0.00 pp	5 q
unresolvedEllie Mae	0.08%	517,544	$52M	added×2.9	+0.06 pp	15 q
HOGHarley-Davidson, Inc.	0.08%	950,926	$58M	trimmed−27%	−0.05 pp	16 q
ZGZillow Group Inc Class A	0.08%	1,536,913	$52M	trimmed−3%	−0.02 pp	9 q
UAUnder Armour, Inc. Class C, $0.0003 1/3 par value	0.07%	2,669,369	$49M	added×3.6	+0.04 pp	2 q
VRTXVertex Pharmaceuticals Inc	0.07%	454,114	$50M	trimmed−1%	+0.01 pp	2 q
FASTFastenal Co	0.06%	847,474	$44M	trimmed−2%	−0.01 pp	15 q
VVRInvesco Senior Income Trust	0.06%	9,395,458	$44M	added+5%	−0.01 pp	10 q
IRBTiRobot Corporation	0.06%	661,647	$44M	added+7%	0.00 pp	16 q
unresolvedVoya Prime Rate Trust	0.06%	7,664,006	$41M	added+5%	−0.01 pp	10 q
SINASina Corp	0.06%	546,793	$39M	trimmed−4%	0.00 pp	5 q
KOCoca-Cola Company	0.05%	755,756	$32M	trimmed−2%	0.00 pp	13 q
CSGPCoStar Group Inc	0.05%	176,050	$36M	trimmed−2%	−0.01 pp	3 q
MTBM&T Bank Corp.	0.05%	221,903	$34M	trimmed−57%	−0.08 pp	16 q
SOHUNSohu.com Inc	0.05%	827,816	$33M	added+49%	+0.02 pp	5 q
JNJJohnson & Johnson	0.04%	240,954	$30M	added+2%	0.00 pp	16 q
TREELendingTree, Inc.	0.04%	240,700	$30M	added+7%	0.00 pp	5 q
2051428DOmr Art Smgarp Eu Eq PEN-2	0.04%	703,439	$27M	added0%	0.00 pp	2 q
PGProcter & Gamble Company	0.04%	315,685	$28M	added+2%	0.00 pp	8 q
unresolvedReynolds American	0.04%	384,630	$24M	added+2%	+0.01 pp	16 q
TJXTJX Companies, Inc. (The)	0.04%	342,370	$27M	trimmed−1%	0.00 pp	16 q
AWRAmerican States Water Company	0.03%	487,984	$22M	added+3%	−0.01 pp	7 q
ADIAnalog Devices, Inc.	0.03%	274,776	$23M	trimmed−6%	0.00 pp	16 q
BF.BBrown-Forman Corporation Class B	0.03%	418,154	$19M	trimmed−3%	0.00 pp	16 q
EIXEdison International	0.03%	252,855	$20M	trimmed−13%	0.00 pp	4 q
FTVFortive Corporation	0.03%	374,782	$23M	trimmed−3%	0.00 pp	3 q
GSGoldman Sachs Group Inc.	0.03%	88,243	$20M	trimmed−1%	−0.01 pp	11 q
HIMXHimax Technologies, Inc.	0.03%	2,604,517	$24M	trimmed−4%	0.00 pp	8 q
IPGPIPG Photonics Corporation	0.03%	154,550	$19M	held	—	16 q
MCDMcDonald's Corporation	0.03%	140,684	$18M	added+2%	0.00 pp	16 q
MSFTMicrosoft Corp	0.03%	280,425	$18M	trimmed−21%	−0.01 pp	16 q
unresolvedNational Instrs Corp	0.03%	679,221	$22M	added+1%	0.00 pp	8 q
PCGPG&E Corporation	0.03%	298,448	$20M	trimmed−12%	0.00 pp	5 q
PEPPepsiCo, Inc.	0.03%	201,994	$23M	added+2%	0.00 pp	16 q
unresolvedTerraform Pwr Inc	0.03%	1,644,483	$20M	trimmed−38%	−0.03 pp	6 q
TIFTiffany & Co.	0.03%	219,329	$21M	trimmed−2%	0.00 pp	15 q
UPSUnited Parcel Service, Inc. Class B	0.03%	211,416	$23M	added+2%	−0.01 pp	16 q
AEEAmeren Corporation	0.02%	243,267	$13M	trimmed−25%	−0.01 pp	5 q
unresolvedApollo Senior Floating Rate Fund Inc	0.02%	617,746	$11M	held	—	14 q
AAPLApple Inc.	0.02%	104,937	$15M	trimmed−27%	−0.01 pp	16 q
unresolvedAqua America	0.02%	392,318	$13M	added+4%	0.00 pp	7 q
AGRAvangrid, Inc.	0.02%	320,379	$14M	trimmed−38%	−0.01 pp	5 q
BGTBlackRock Floating Rate Income Trust	0.02%	1,150,000	$16M	held	—	14 q
EDConsolidated Edison, Inc.	0.02%	174,857	$14M	trimmed−36%	−0.01 pp	4 q
DLBDolby Laboratories, Inc.Class A	0.02%	265,708	$14M	added+2%	0.00 pp	16 q
DCIDonaldson Company, Inc.	0.02%	253,959	$12M	trimmed−21%	0.00 pp	15 q
EVFEaton Vance Senior Income Trust	0.02%	1,885,000	$13M	held	—	14 q
ESEversource Energy	0.02%	227,301	$13M	trimmed−15%	0.00 pp	5 q
EXCExelon Corporation	0.02%	375,127	$13M	trimmed−23%	−0.01 pp	4 q
HEIHEICO Corporation	0.02%	166,454	$15M	held	—	15 q
unresolvedNuveen Senior Income Fund	0.02%	1,915,000	$13M	held	—	14 q
PCARPaccar Inc	0.02%	203,935	$14M	trimmed−2%	0.00 pp	10 q
PMPhilip Morris International Inc.	0.02%	96,902	$11M	trimmed−9%	0.00 pp	16 q
XPHDXPioneer Floating Rate Fund	0.02%	1,236,803	$15M	held	—	14 q
SHWThe Sherwin-Williams Company	0.02%	37,711	$12M	trimmed−3%	0.00 pp	15 q
TRUPTrupanion, Inc.	0.02%	875,000	$12M	held	—	3 q
VECOVeeco Instruments Inc	0.02%	522,644	$16M	trimmed−5%	−0.01 pp	6 q
WECWEC Energy Group, Inc.	0.02%	187,404	$11M	added+6%	0.00 pp	4 q
BCRHBlue Capital Reinsurance Hol	0.02%	629,438	$12M	held	—	14 q
ADAPYAdaptimmune Theraptcs	0.01%	920,984	$5M	held	—	5 q
AVAVAeroVironment, Inc.	0.01%	287,710	$8M	held	—	16 q
ALBAlbemarle Corporation	0.01%	91,905	$10M	new	+0.01 pp	new
AWKAmerican Water Works Company, Inc	0.01%	126,634	$10M	added+1%	0.00 pp	7 q
Barclays PLCconvertible	0.01%	3,285,000	$3M	trimmed−67%	−0.01 pp	2 q
BMYBristol-Myers Squibb Co.	0.01%	177,742	$10M	trimmed−5%	−0.01 pp	16 q
CWTCalifornia Water Service	0.01%	284,124	$10M	trimmed−31%	−0.01 pp	7 q
CSLTCastlight Health, Inc.	0.01%	1,794,820	$7M	held	—	13 q
CDXSCodexis, Inc.	0.01%	1,185,133	$6M	held	—	9 q
96669EURDmrc LLC	0.01%	174,500	$5M	held	—	7 q
unresolvedExa Corp	0.01%	419,630	$5M	held	—	14 q
FAROFaro Technologies Inc	0.01%	174,080	$6M	held	—	16 q
unresolvedFoundation Medicine	0.01%	174,800	$6M	held	—	11 q
ELThe Estee Lauder Companies Inc. Class A	0.01%	111,584	$9M	held	—	6 q
LTRPALiberty TripAdvisor Holdings, Inc. Series A	0.01%	543,314	$8M	held	—	9 q
MCHPMicrochip Technology Inc	0.01%	82,660	$6M	held	—	15 q
unresolvedMindbody Cl A	0.01%	165,261	$5M	new	+0.01 pp	new
unresolvedNovadaq Technologies Inc	0.01%	704,480	$5M	held	—	16 q
PCRXPacira BioSciences, Inc.	0.01%	213,600	$10M	held	—	7 q
PXGBXPraxair Inc	0.01%	70,221	$8M	held	—	16 q
SLBSLB Limited	0.01%	119,127	$9M	held	—	15 q
STAAStaar Surgical Co	0.01%	489,540	$5M	held	—	2 q
STMPStamps.com, Inc.	0.01%	60,550	$7M	trimmed−5%	0.00 pp	16 q
TDOCTeladoc Health, Inc.	0.01%	203,000	$5M	new	+0.01 pp	new
VARVarian Medical Systems, Inc.	0.01%	100,667	$9M	held	—	15 q
WITWipro Limited	0.01%	349,165	$4M	added+1%	0.00 pp	8 q
AMBAAmbarella, Inc.	0.01%	89,100	$5M	new	+0.01 pp	new
unresolvedLuxoft Holding	0.01%	96,930	$6M	held	—	4 q
SSYSStratasys Inc (ISRAEL)	0.01%	229,400	$5M	held	—	16 q
ACTGAcacia Research Corporation	0.00%	365,820	$2M	held	—	16 q
AIYActivision Blizzard Inc	0.00%	44,300	$2M	held	—	2 q
ADROChinook Therapeutics Inc	0.00%	290,000	$3M	held	—	5 q
BZUNBaozun Inc.	0.00%	106,132	$2M	new	0.00 pp	new
ONCBeOne Medicines Ltd.	0.00%	70,865	$3M	added+2%	0.00 pp	5 q
BIOAQBioamber Inc	0.00%	579,540	$1M	held	—	9 q
BGBBlackstone Strategic Credit 2027 Term Fund	0.00%	128,690	$2M	new	0.00 pp	new
CEVACEVA Inc.	0.00%	42,847	$2M	new	0.00 pp	new
ECLEcolab, Inc.	0.00%	2,027	$254,000	new	0.00 pp	new
XFCTXFirst Trust Snr FL Rt Inc II	0.00%	183,676	$3M	trimmed−77%	−0.02 pp	10 q
HCMHUTCHMED (China) Limited	0.00%	157,892	$3M	added+3%	0.00 pp	4 q
unresolvedKite Pharma Inc	0.00%	2,564	$201,000	new	0.00 pp	new
KEPKorea Electric Power Corp	0.00%	13,000	$269,000	added×3.3	0.00 pp	3 q
NTESNetEase, inc.	0.00%	1,856	$527,000	added+41%	0.00 pp	3 q
XJQCXNuveen Credit Strategies Inc	0.00%	230,900	$2M	new	0.00 pp	new
REGNRegeneron Pharmaceuticals Inc	0.00%	5,500	$2M	held	—	16 q
RIORio Tinto plc	0.00%	70,626	$3M	held	—	11 q
SKMSK Telecom Co., Ltd.	0.00%	58,253	$1M	added+2%	0.00 pp	14 q
WBWeibo Corporation	0.00%	59,653	$3M	trimmed−3%	0.00 pp	3 q
XYLXylem Inc	0.00%	5,457	$274,000	new	0.00 pp	new
FOMXFoamix Pharmaceuticals Ltd	0.00%	219,400	$1M	held	—	8 q
unresolvedQiagen N.V	—	−7,592,794	—	exited	−0.35 pp	—
unresolvedLinear Technology Group	—	−301,410	—	exited	−0.03 pp	—
NYCBFlagstar Bank, National Association	—	−1,230,337	—	exited	−0.03 pp	—
unresolvedWhole Foods Market	—	−655,238	—	exited	−0.03 pp	—
XEFRXEaton Vance Sr Fltg Rate Tr	—	−964,976	—	exited	−0.02 pp	—
ORLYO'Reilly Automotive, Inc.	—	−48,325	—	exited	−0.02 pp	—
EFTEaton Vance Floating-Rate Income Trust	—	−518,187	—	exited	−0.01 pp	—
EPAMEpam Systems, Inc.	—	−84,900	—	exited	−0.01 pp	—
JFRNuveen Floating Rate Income Fund	—	−451,552	—	exited	−0.01 pp	—
ONDKOn Deck Capital, Inc.	—	−884,130	—	exited	−0.01 pp	—
POWIPower Integrations Inc	—	−80,680	—	exited	−0.01 pp	—