Baillie Gifford

Q2 2017 13F

As of: Jun 30, 2017
Filed: Aug 10, 2017
US stock: $74.3B · prev $68.7B
Positions: 201 · prev 200
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%

Moves185 since the prior filing

+2.0 pp in · −2.0 pp out

New 8 +0.67 pp
Added 91 +1.28 pp
Trimmed 79 −1.42 pp
Exited 7 −0.55 pp

The book

Focused · behaves like 28 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 6.8% a year, about 14.7 years per position

Low
Moderate
High

Top 5 positions35% of US stock

Positions201 in this filing · 7 exited


BABAAlibaba Group Holding Limited	8.96%	47,282,089	$6.7B	trimmed−1%	+1.43 pp	12 q
AMZNAmazon.Com Inc	8.88%	6,816,146	$6.6B	trimmed−5%	−0.40 pp	17 q
TSLATesla, Inc.	6.53%	13,424,092	$4.9B	trimmed−1%	+1.01 pp	17 q
BIDUBaidu, Inc.	5.73%	23,808,966	$4.3B	trimmed−1%	−0.33 pp	17 q
METAMeta Platforms, Inc. Class A	4.75%	23,408,951	$3.5B	trimmed−3%	−0.23 pp	17 q
ILMNIllumina Inc	4.36%	18,690,491	$3.2B	trimmed−0%	−0.30 pp	17 q
CTRPTrip.com Group Limited	3.73%	51,440,623	$2.8B	trimmed−0%	+0.04 pp	17 q
GOOGAlphabet Inc. Class C	3.57%	2,919,272	$2.7B	trimmed−2%	−0.03 pp	13 q
NVDANvidia Corp	2.43%	12,494,740	$1.8B	trimmed−10%	+0.23 pp	6 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	2.17%	46,248,272	$1.6B	trimmed−2%	−0.08 pp	6 q
MELIMercado Libre, Inc	2.08%	6,165,654	$1.5B	trimmed−1%	+0.17 pp	17 q
RCLRoyal Caribbean Group	1.95%	13,261,121	$1.4B	trimmed−1%	+0.04 pp	17 q
RACEFerrari N.V.	1.79%	15,554,674	$1.3B	trimmed−11%	−0.11 pp	6 q
NFLXNetFlix Inc	1.50%	7,472,435	$1.1B	trimmed−2%	−0.13 pp	10 q
ISRGIntuitive Surgical Inc.	1.48%	1,175,818	$1.1B	trimmed−24%	−0.25 pp	17 q
ELVElevance Health, Inc.	1.25%	4,957,127	$933M	trimmed−1%	+0.05 pp	11 q
AMTTd Ameritrade Holding Corp	1.12%	19,447,133	$836M	trimmed−1%	+0.01 pp	17 q
MCOMoody's Corporation	1.11%	6,808,943	$829M	trimmed−1%	−0.02 pp	17 q
SGENSeagen Inc.	1.10%	15,839,321	$820M	trimmed−2%	−0.38 pp	17 q
WDAYWorkday, Inc. Class A	0.99%	7,576,446	$735M	trimmed−4%	+0.04 pp	17 q
RYAAYRyanair Holdings plc	0.96%	6,663,347	$717M	trimmed−5%	+0.12 pp	7 q
unresolvedFiat Chrysler Automobiles NV s	0.96%	67,515,878	$711M	trimmed−2%	−0.14 pp	11 q
MAMastercard Incorporated	0.92%	5,658,171	$687M	trimmed−0%	−0.01 pp	17 q
9990302DApache Corp	0.80%	12,429,930	$596M	added+58%	+0.21 pp	17 q
VVISA Inc.	0.80%	6,322,412	$593M	trimmed−1%	−0.03 pp	17 q
FRCBFirst Republic Bk CA	0.79%	5,900,898	$591M	trimmed−19%	−0.21 pp	17 q
CRMSalesforce, Inc.	0.79%	6,774,989	$587M	trimmed−3%	−0.05 pp	17 q
unresolvedNew Oriental Ed & Tech Grp I	0.78%	8,264,923	$583M	added+1%	+0.06 pp	17 q
NBISNebius Group N.V. Class A	0.78%	22,028,105	$578M	trimmed−1%	+0.07 pp	14 q
unresolvedBluebird Bio Inc	0.76%	5,400,658	$567M	added+4%	+0.07 pp	10 q
MLMMartin Marietta Materials	0.76%	2,522,819	$562M	trimmed−15%	−0.18 pp	17 q
JDJD.com, Inc.	0.75%	14,179,648	$556M	trimmed−6%	+0.07 pp	13 q
KMXCarMax Inc.	0.74%	8,740,859	$551M	trimmed−2%	−0.03 pp	17 q
MKLMarkel Group Inc.	0.74%	560,203	$547M	added+1%	−0.05 pp	17 q
MKTXMarketAxess Holdings Inc.	0.74%	2,752,949	$554M	added+5%	+0.03 pp	17 q
WATWaters Corp	0.73%	2,960,973	$544M	trimmed−1%	+0.05 pp	17 q
UAAUnder Armour, Inc.	0.72%	24,474,859	$533M	added+37%	+0.21 pp	8 q
EOGEOG Resources, Inc.	0.64%	5,258,432	$476M	trimmed−1%	−0.12 pp	17 q
TALTAL Education Group	0.62%	3,762,702	$460M	added+1%	+0.04 pp	6 q
DXCMDexCom, Inc.	0.60%	6,094,471	$446M	trimmed−2%	−0.17 pp	17 q
WABWabtec Inc.	0.57%	4,664,520	$427M	added0%	+0.04 pp	6 q
LECOLincoln Electric Holdings Inc	0.55%	4,470,189	$412M	trimmed−12%	−0.09 pp	17 q
VRSKVerisk Analytics, Inc.	0.55%	4,886,479	$412M	added0%	−0.03 pp	5 q
MTDMettler-Toledo International	0.53%	671,210	$395M	added+5%	+0.08 pp	17 q
IONSIonis Pharmaceuticals, Inc.	0.51%	7,448,380	$379M	trimmed−5%	+0.05 pp	7 q
RMDResMed Inc.	0.51%	4,869,286	$379M	trimmed−1%	−0.01 pp	4 q
CLColgate-Palmolive Company	0.50%	4,975,110	$369M	trimmed−1%	−0.04 pp	17 q
unresolvedLeucadia National	0.50%	14,221,990	$372M	trimmed−1%	−0.05 pp	11 q
unresolvedGrubhub Inc	0.49%	8,385,444	$366M	added+2%	+0.10 pp	9 q
SPLKSplunk Inc	0.49%	6,393,162	$364M	trimmed−3%	−0.11 pp	15 q
unresolvedAtlassian Corp Plc	0.48%	10,147,647	$357M	trimmed−6%	+0.01 pp	5 q
CHRWC.H. Robinson Worldwide, Inc.	0.47%	5,116,716	$351M	trimmed−7%	−0.15 pp	16 q
TERTeradyne, Inc.	0.46%	11,467,533	$344M	trimmed−29%	−0.27 pp	17 q
unresolvedJuno Therapeutics Inc	0.45%	11,173,129	$334M	trimmed−0%	+0.09 pp	7 q
RBARB Global, Inc.	0.45%	11,581,091	$333M	trimmed−1%	−0.11 pp	17 q
unresolvedMobileye Nv	0.43%	5,123,909	$322M	trimmed−20%	−0.14 pp	4 q
CXCemex S.A.B. de C.V.	0.40%	31,284,085	$295M	trimmed−1%	0.00 pp	17 q
ABMDAbiomed Inc	0.38%	1,971,690	$283M	added+18%	+0.08 pp	7 q
CPACopa Holdings, S.A.	0.38%	2,382,975	$279M	trimmed−3%	−0.02 pp	17 q
ALNYAlnylam Pharmaceuticals, Inc.	0.37%	3,431,316	$274M	added+3%	+0.12 pp	17 q
ITUBItau Unibanco Holding S.A.	0.34%	23,166,562	$256M	trimmed−2%	−0.07 pp	17 q
MYGNMyriad Genetics Inc	0.34%	9,665,247	$250M	trimmed−3%	+0.06 pp	16 q
unresolvedQiagen N.V	0.32%	7,169,829	$240M	trimmed−1%	+0.02 pp	2 q
IBKRInteractive Brokers Group, Inc. Class A	0.30%	5,941,025	$222M	added+4%	+0.01 pp	6 q
KEXKirby Corporation	0.29%	3,212,470	$215M	added+2%	−0.03 pp	6 q
QSRRestaurant Brands International Inc.	0.29%	3,499,860	$219M	trimmed−2%	0.00 pp	11 q
BAPCredicorp LTD	0.29%	1,203,402	$216M	trimmed−1%	0.00 pp	17 q
unresolvedFinancial Engines	0.28%	5,599,838	$205M	added+1%	−0.07 pp	14 q
HHCThe Howard Hughes Corporation	0.28%	1,713,962	$211M	added+1%	−0.01 pp	14 q
DNOWDNOW Inc.	0.28%	13,065,945	$210M	added+2%	−0.04 pp	13 q
SITESiteOne Landscape Supply, Inc.	0.28%	4,058,655	$211M	new	+0.28 pp	new
SRCLStericycle Inc	0.27%	2,644,594	$202M	trimmed−3%	−0.06 pp	6 q
IBNICICI Bank Limited	0.26%	21,193,323	$190M	trimmed−2%	+0.01 pp	17 q
ZZillow Group, Inc. Class C	0.26%	3,933,489	$193M	added+4%	+0.07 pp	8 q
AMDAdvanced Micro Devices	0.25%	14,804,991	$185M	new	+0.25 pp	new
ATHMAutohome Inc.	0.22%	3,617,738	$164M	trimmed−2%	+0.05 pp	9 q
TRIPTripAdvisor, Inc.	0.22%	4,195,632	$160M	trimmed−58%	−0.41 pp	17 q
unresolvedChina Biologic Products Inc	0.21%	1,377,493	$156M	trimmed−1%	+0.01 pp	5 q
BBDBanco Bradesco S.A.	0.20%	17,087,746	$145M	trimmed−1%	−0.03 pp	3 q
WWayfair Inc.	0.20%	1,914,674	$147M	added+6%	+0.09 pp	8 q
GOOGLAlphabet Inc. Class A	0.18%	145,611	$135M	trimmed−1%	0.00 pp	8 q
PBRPetroleo Brasileiro S.a.-petrobras	0.17%	15,846,648	$127M	trimmed−1%	−0.06 pp	3 q
EMBJEmbraer S.A.	0.15%	6,262,770	$114M	trimmed−3%	−0.06 pp	17 q
PSMTPricesmart Inc	0.15%	1,307,138	$115M	trimmed−2%	−0.03 pp	17 q
WSOWatsco, Inc.	0.14%	695,534	$107M	added+1%	0.00 pp	17 q
CELGCelgene Corp	0.12%	664,967	$86M	trimmed−0%	0.00 pp	4 q
DATATableau Software, Inc.	0.11%	1,393,039	$85M	trimmed−0%	+0.01 pp	6 q
WIXWIX.com Ltd.	0.11%	1,200,234	$84M	trimmed−16%	−0.03 pp	7 q
MMYTMakeMyTrip Limited	0.11%	2,378,968	$80M	added+2%	−0.01 pp	2 q
AXPAmerican Express Company	0.10%	898,382	$76M	trimmed−0%	0.00 pp	16 q
HDBHDFC Bank Limited	0.10%	887,835	$77M	trimmed−9%	−0.01 pp	10 q
ZGZillow Group Inc Class A	0.10%	1,491,378	$73M	trimmed−3%	+0.02 pp	10 q
CMGChipotle Mexican Grill, Inc.	0.08%	150,510	$63M	trimmed−0%	−0.02 pp	9 q
unresolvedEllie Mae	0.08%	539,975	$59M	added+4%	0.00 pp	16 q
WUBA58.COM Inc	0.08%	1,346,032	$59M	new	+0.08 pp	new
FTVFortive Corporation	0.08%	886,955	$56M	added×2.4	+0.05 pp	4 q
IRBTiRobot Corporation	0.08%	746,771	$63M	added+13%	+0.02 pp	17 q
TREELendingTree, Inc.	0.08%	336,171	$58M	added+40%	+0.04 pp	6 q
VRTXVertex Pharmaceuticals Inc	0.08%	485,597	$63M	added+7%	+0.01 pp	3 q
AIYActivision Blizzard Inc	0.07%	855,028	$49M	added×19.3	+0.07 pp	3 q
HOGHarley-Davidson, Inc.	0.07%	951,821	$51M	added0%	−0.01 pp	17 q
INFYInfosys Limited	0.07%	3,477,352	$52M	trimmed−28%	−0.04 pp	14 q
UAUnder Armour, Inc. Class C, $0.0003 1/3 par value	0.07%	2,754,002	$56M	added+3%	0.00 pp	3 q
CSGPCoStar Group Inc	0.06%	173,170	$46M	trimmed−2%	+0.01 pp	4 q
VVRInvesco Senior Income Trust	0.06%	10,102,648	$46M	added+8%	0.00 pp	11 q
unresolvedVoya Prime Rate Trust	0.06%	8,197,576	$44M	added+7%	0.00 pp	11 q
SINASina Corp	0.06%	536,670	$46M	trimmed−2%	0.00 pp	6 q
KOCoca-Cola Company	0.05%	804,570	$36M	added+6%	0.00 pp	14 q
FASTFastenal Co	0.05%	887,788	$39M	added+5%	−0.01 pp	16 q
JNJJohnson & Johnson	0.05%	259,408	$34M	added+8%	+0.01 pp	17 q
SOHUNSohu.com Inc	0.05%	816,935	$37M	trimmed−1%	0.00 pp	6 q
IPGPIPG Photonics Corporation	0.04%	194,150	$28M	added+26%	+0.01 pp	17 q
unresolvedNational Instrs Corp	0.04%	764,590	$31M	added+13%	+0.01 pp	9 q
PGProcter & Gamble Company	0.04%	338,064	$29M	added+7%	0.00 pp	9 q
unresolvedReynolds American	0.04%	421,090	$27M	added+9%	0.00 pp	17 q
ALBAlbemarle Corporation	0.03%	184,555	$19M	added×2.0	+0.02 pp	2 q
ADIAnalog Devices, Inc.	0.03%	290,535	$23M	added+6%	0.00 pp	17 q
BF.BBrown-Forman Corporation Class B	0.03%	421,446	$20M	added+1%	0.00 pp	17 q
EIXEdison International	0.03%	261,595	$20M	added+3%	0.00 pp	5 q
GSGoldman Sachs Group Inc.	0.03%	89,428	$20M	added+1%	0.00 pp	12 q
2051428DOmr Art Smgarp Eu Eq PEN-2	0.03%	604,811	$21M	trimmed−14%	−0.01 pp	3 q
MTBM&T Bank Corp.	0.03%	136,204	$22M	trimmed−39%	−0.02 pp	17 q
MCDMcDonald's Corporation	0.03%	143,541	$22M	added+2%	0.00 pp	17 q
MSFTMicrosoft Corp	0.03%	297,221	$20M	added+6%	0.00 pp	17 q
PCGPG&E Corporation	0.03%	309,027	$21M	added+4%	0.00 pp	6 q
PEPPepsiCo, Inc.	0.03%	212,673	$25M	added+5%	0.00 pp	17 q
TJXTJX Companies, Inc. (The)	0.03%	353,695	$26M	added+3%	−0.01 pp	17 q
unresolvedTerraform Pwr Inc	0.03%	1,764,812	$21M	added+7%	0.00 pp	7 q
TIFTiffany & Co.	0.03%	224,814	$21M	added+3%	0.00 pp	16 q
TRUPTrupanion, Inc.	0.03%	982,373	$22M	added+12%	+0.01 pp	4 q
UPSUnited Parcel Service, Inc. Class B	0.03%	223,958	$25M	added+6%	0.00 pp	17 q
AVAVAeroVironment, Inc.	0.02%	344,710	$13M	added+20%	+0.01 pp	17 q
AEEAmeren Corporation	0.02%	262,267	$14M	added+8%	0.00 pp	6 q
AAPLApple Inc.	0.02%	111,777	$16M	added+7%	0.00 pp	17 q
unresolvedAqua America	0.02%	397,525	$13M	added+1%	0.00 pp	8 q
AGRAvangrid, Inc.	0.02%	357,789	$16M	added+12%	0.00 pp	6 q
BGTBlackRock Floating Rate Income Trust	0.02%	1,150,000	$16M	held	—	15 q
EDConsolidated Edison, Inc.	0.02%	186,249	$15M	added+7%	0.00 pp	5 q
DLBDolby Laboratories, Inc.Class A	0.02%	273,472	$13M	added+3%	0.00 pp	17 q
EVFEaton Vance Senior Income Trust	0.02%	1,885,000	$13M	held	—	15 q
ESEversource Energy	0.02%	243,464	$15M	added+7%	0.00 pp	6 q
EXCExelon Corporation	0.02%	404,952	$15M	added+8%	0.00 pp	5 q
HEIHEICO Corporation	0.02%	203,994	$15M	trimmed−2%	0.00 pp	16 q
HEI.AHeico Corp Cl A	0.02%	290,783	$18M	new	+0.02 pp	new
unresolvedNuveen Senior Income Fund	0.02%	1,915,000	$13M	held	—	15 q
PCRXPacira BioSciences, Inc.	0.02%	301,000	$14M	added+41%	+0.01 pp	8 q
XPHDXPioneer Floating Rate Fund	0.02%	1,236,803	$15M	held	—	15 q
SHWThe Sherwin-Williams Company	0.02%	38,869	$14M	added+3%	0.00 pp	16 q
Tesla Energy Operationsconvertible	0.02%	12,040,000	$11M	new	+0.02 pp	new
VECOVeeco Instruments Inc	0.02%	583,844	$16M	added+12%	0.00 pp	7 q
WECWEC Energy Group, Inc.	0.02%	203,306	$12M	added+8%	0.00 pp	5 q
BCRHBlue Capital Reinsurance Hol	0.02%	629,438	$12M	held	—	15 q
ADAPYAdaptimmune Theraptcs	0.01%	1,323,308	$6M	added+44%	0.00 pp	6 q
ADROChinook Therapeutics Inc	0.01%	422,700	$5M	added+46%	+0.01 pp	6 q
AWRAmerican States Water Company	0.01%	155,890	$7M	trimmed−68%	−0.02 pp	8 q
AWKAmerican Water Works Company, Inc	0.01%	128,649	$10M	added+2%	0.00 pp	8 q
unresolvedApollo Senior Floating Rate Fund Inc	0.01%	617,746	$10M	held	—	15 q
BZUNBaozun Inc.	0.01%	460,100	$10M	added×4.3	+0.01 pp	2 q
BGBBlackstone Strategic Credit 2027 Term Fund	0.01%	327,750	$5M	added×2.5	+0.01 pp	2 q
BMYBristol-Myers Squibb Co.	0.01%	177,742	$10M	held	—	17 q
CWTCalifornia Water Service	0.01%	288,508	$11M	added+2%	0.00 pp	8 q
CEVACEVA Inc.	0.01%	183,400	$8M	added×4.3	+0.01 pp	2 q
CDXSCodexis, Inc.	0.01%	1,461,413	$8M	added+23%	0.00 pp	10 q
96669EURDmrc LLC	0.01%	252,898	$10M	added+45%	0.00 pp	8 q
unresolvedExa Corp	0.01%	521,230	$7M	added+24%	0.00 pp	15 q
FAROFaro Technologies Inc	0.01%	217,980	$8M	added+25%	0.00 pp	17 q
unresolvedFoundation Medicine	0.01%	248,300	$10M	added+42%	0.00 pp	12 q
HIMXHimax Technologies, Inc.	0.01%	675,800	$6M	trimmed−74%	−0.02 pp	9 q
HCMHUTCHMED (China) Limited	0.01%	167,547	$4M	added+6%	+0.01 pp	5 q
ELThe Estee Lauder Companies Inc. Class A	0.01%	111,584	$11M	held	—	7 q
Liberty Interactive LLCconvertible	0.01%	7,522,000	$5M	new	+0.01 pp	new
LTRPALiberty TripAdvisor Holdings, Inc. Series A	0.01%	543,314	$6M	held	—	10 q
MCHPMicrochip Technology Inc	0.01%	82,660	$6M	held	—	16 q
unresolvedMindbody Cl A	0.01%	250,661	$7M	added+52%	0.00 pp	2 q
unresolvedNovadaq Technologies Inc	0.01%	704,480	$8M	held	—	17 q
XJQCXNuveen Credit Strategies Inc	0.01%	583,518	$5M	added×2.5	+0.01 pp	2 q
SLBSLB Limited	0.01%	119,127	$8M	held	—	16 q
STAAStaar Surgical Co	0.01%	666,612	$7M	added+36%	0.00 pp	3 q
STMPStamps.com, Inc.	0.01%	65,250	$10M	added+8%	0.00 pp	17 q
Sunpower Corpconvertible	0.01%	7,600,000	$7M	new	+0.01 pp	new
TDOCTeladoc Health, Inc.	0.01%	285,000	$10M	added+40%	0.00 pp	2 q
VARVarian Medical Systems, Inc.	0.01%	100,667	$10M	held	—	16 q
WBWeibo Corporation	0.01%	113,097	$8M	added+90%	+0.01 pp	4 q
AMBAAmbarella, Inc.	0.01%	120,100	$6M	added+35%	0.00 pp	2 q
unresolvedLuxoft Holding	0.01%	96,930	$6M	held	—	5 q
SSYSStratasys Inc (ISRAEL)	0.01%	377,800	$9M	added+65%	0.00 pp	17 q
ACTGAcacia Research Corporation	0.00%	365,820	$2M	held	—	17 q
ONCBeOne Medicines Ltd.	0.00%	74,424	$3M	added+5%	0.00 pp	6 q
BIOAQBioamber Inc	0.00%	579,540	$1M	held	—	10 q
unresolvedChina Rapid Finance ADR	0.00%	300,000	$2M	new	0.00 pp	new
ECLEcolab, Inc.	0.00%	2,027	$269,000	held	—	2 q
XFCTXFirst Trust Snr FL Rt Inc II	0.00%	183,676	$2M	held	—	11 q
unresolvedKite Pharma Inc	0.00%	2,564	$266,000	held	—	2 q
KEPKorea Electric Power Corp	0.00%	45,400	$816,000	added×3.5	0.00 pp	4 q
NTESNetEase, inc.	0.00%	3,307	$994,000	added+78%	0.00 pp	4 q
REGNRegeneron Pharmaceuticals Inc	0.00%	5,500	$3M	held	—	17 q
RIORio Tinto plc	0.00%	70,626	$3M	held	—	12 q
SKMSK Telecom Co., Ltd.	0.00%	60,763	$2M	added+4%	0.00 pp	15 q
WITWipro Limited	0.00%	589,766	$3M	trimmed−16%	−0.01 pp	9 q
XYLXylem Inc	0.00%	5,457	$302,000	held	—	2 q
FOMXFoamix Pharmaceuticals Ltd	0.00%	219,400	$1M	held	—	9 q
unresolvedMonsanto Co	—	−2,792,698	—	exited	−0.46 pp	—
DCIDonaldson Company, Inc.	—	−253,959	—	exited	−0.02 pp	—
PCARPaccar Inc	—	−203,935	—	exited	−0.02 pp	—
PMPhilip Morris International Inc.	—	−96,902	—	exited	−0.02 pp	—
Barclays PLCconvertible	—	−3,285,000	—	exited	−0.01 pp	—
CSLTCastlight Health, Inc.	—	−1,794,820	—	exited	−0.01 pp	—
PXGBXPraxair Inc	—	−70,221	—	exited	−0.01 pp	—