Baillie Gifford

Q1 2018 13F

As of: Mar 31, 2018
Filed: May 10, 2018
US stock: $85.3B · prev $80.4B
Positions: 204 · prev 201
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%

Moves182 since the prior filing

+4.7 pp in · −4.6 pp out

New 6 +0.20 pp
Added 96 +4.46 pp
Trimmed 77 −4.00 pp
Exited 3 −0.65 pp

The book

Focused · behaves like 28 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 14% a year, about 7.1 years per position

Low
Moderate
High

Top 5 positions34% of US stock

AMZN Amazon.Com Inc trimmed+0.80 pp trimmed+0.809.9%
BABA Alibaba Group Holding Limited added+0.17 pp added+0.179.8%
BIDU Baidu, Inc. trimmed−1.03 pp trimmed−1.035.6%
ILMN Illumina Inc trimmed+0.08 pp trimmed+0.084.9%
TSLA Tesla, Inc. trimmed−1.00 pp trimmed−1.004.0%

Positions204 in this filing · 3 exited


AMZNAmazon.Com Inc	9.92%	5,844,332	$8.5B	trimmed−7%	+0.80 pp	20 q
BABAAlibaba Group Holding Limited	9.76%	45,331,375	$8.3B	added+1%	+0.17 pp	15 q
BIDUBaidu, Inc.	5.62%	21,485,805	$4.8B	trimmed−6%	−1.03 pp	20 q
ILMNIllumina Inc	4.90%	17,671,931	$4.2B	trimmed−0%	+0.08 pp	20 q
TSLATesla, Inc.	3.99%	12,776,074	$3.4B	trimmed−1%	−1.00 pp	20 q
METAMeta Platforms, Inc. Class A	3.78%	20,175,887	$3.2B	trimmed−4%	−0.81 pp	20 q
CTRPTrip.com Group Limited	2.99%	54,662,733	$2.5B	added+11%	+0.30 pp	20 q
GOOGAlphabet Inc. Class C	2.91%	2,405,566	$2.5B	trimmed−11%	−0.59 pp	16 q
NFLXNetFlix Inc	2.70%	7,794,760	$2.3B	added+12%	+1.04 pp	13 q
NVDANvidia Corp	2.70%	9,951,156	$2.3B	trimmed−11%	+0.01 pp	9 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	2.27%	44,211,639	$1.9B	trimmed−1%	+0.06 pp	9 q
MELIMercado Libre, Inc	2.21%	5,297,170	$1.9B	trimmed−7%	−0.01 pp	20 q
TALTAL Education Group	2.16%	49,690,142	$1.8B	added+92%	+1.21 pp	9 q
RACEFerrari N.V.	2.06%	14,642,240	$1.8B	trimmed−1%	+0.12 pp	9 q
unresolvedFiat Chrysler Automobiles NV s	1.84%	77,216,789	$1.6B	trimmed−1%	+0.10 pp	14 q
ISRGIntuitive Surgical Inc.	1.48%	3,050,136	$1.3B	trimmed−3%	+0.05 pp	20 q
ELVElevance Health, Inc.	1.25%	4,858,014	$1.1B	trimmed−0%	−0.11 pp	14 q
MCOMoody's Corporation	1.25%	6,622,119	$1.1B	trimmed−1%	+0.03 pp	20 q
MAMastercard Incorporated	1.16%	5,643,677	$989M	added+1%	+0.11 pp	20 q
unresolvedGrubhub Inc	1.03%	8,666,071	$879M	added+4%	+0.28 pp	12 q
WDAYWorkday, Inc. Class A	1.03%	6,896,842	$877M	trimmed−3%	+0.13 pp	20 q
unresolvedBluebird Bio Inc	1.01%	5,042,067	$861M	trimmed−3%	−0.14 pp	13 q
NTESNetEase, inc.	1.01%	3,084,294	$865M	added+16%	−0.14 pp	7 q
RCLRoyal Caribbean Group	0.96%	6,966,731	$820M	trimmed−29%	−0.49 pp	20 q
MKTXMarketAxess Holdings Inc.	0.93%	3,661,066	$796M	added+13%	+0.12 pp	20 q
SGENSeagen Inc.	0.90%	14,672,519	$768M	trimmed−2%	−0.10 pp	20 q
VVISA Inc.	0.86%	6,127,430	$733M	trimmed−1%	−0.02 pp	20 q
RYAAYRyanair Holdings plc	0.84%	5,803,668	$713M	trimmed−8%	+0.02 pp	10 q
CRMSalesforce, Inc.	0.82%	6,046,347	$703M	added+5%	+0.09 pp	20 q
unresolvedNew Oriental Ed & Tech Grp I	0.78%	7,600,260	$666M	trimmed−2%	−0.12 pp	20 q
MKLMarkel Group Inc.	0.75%	544,429	$637M	added+1%	−0.01 pp	20 q
ABMDAbiomed Inc	0.70%	2,044,935	$595M	added+5%	+0.25 pp	10 q
FRCBFirst Republic Bk CA	0.65%	5,977,543	$554M	added+3%	+0.02 pp	20 q
9990302DApache Corp	0.63%	13,897,323	$535M	added+14%	−0.01 pp	20 q
AMTTd Ameritrade Holding Corp	0.63%	9,133,945	$541M	added+2%	+0.06 pp	20 q
EOGEOG Resources, Inc.	0.62%	5,005,542	$527M	trimmed−1%	−0.06 pp	20 q
WATWaters Corp	0.60%	2,573,562	$511M	trimmed−12%	−0.10 pp	20 q
AJGArthur J. Gallagher & Co.	0.58%	7,163,826	$492M	trimmed−1%	+0.01 pp	2 q
TMOThermo Fisher Scientific, Inc.	0.58%	2,402,947	$496M	trimmed−1%	+0.01 pp	2 q
JDJD.com, Inc.	0.57%	12,011,130	$486M	trimmed−0%	−0.05 pp	16 q
CHRWC.H. Robinson Worldwide, Inc.	0.56%	5,106,924	$479M	trimmed−1%	−0.01 pp	19 q
RMDResMed Inc.	0.56%	4,867,725	$479M	trimmed−1%	+0.04 pp	7 q
ALNYAlnylam Pharmaceuticals, Inc.	0.54%	3,834,213	$457M	added+6%	−0.03 pp	20 q
MLMMartin Marietta Materials	0.54%	2,214,958	$459M	added+1%	−0.07 pp	20 q
VRSKVerisk Analytics, Inc.	0.54%	4,407,302	$458M	trimmed−10%	−0.04 pp	8 q
unresolvedAtlassian Corp Plc	0.54%	8,555,578	$461M	trimmed−4%	+0.04 pp	8 q
IBKRInteractive Brokers Group, Inc. Class A	0.49%	6,165,648	$415M	added+2%	+0.05 pp	9 q
TREELendingTree, Inc.	0.49%	1,266,717	$416M	added+81%	+0.19 pp	9 q
ITUBItau Unibanco Holding S.A.	0.48%	26,167,341	$408M	trimmed−4%	+0.04 pp	20 q
DXCMDexCom, Inc.	0.47%	5,417,824	$402M	trimmed−2%	+0.07 pp	20 q
TERTeradyne, Inc.	0.47%	8,782,289	$401M	trimmed−0%	+0.01 pp	20 q
WUBA58.COM Inc	0.45%	4,759,326	$380M	trimmed−1%	+0.02 pp	4 q
WABWabtec Inc.	0.45%	4,691,207	$382M	added+1%	−0.02 pp	9 q
MTDMettler-Toledo International	0.42%	616,780	$355M	trimmed−0%	−0.06 pp	20 q
UAAUnder Armour, Inc.	0.42%	21,748,580	$356M	trimmed−3%	+0.02 pp	11 q
RBARB Global, Inc.	0.41%	10,998,921	$346M	trimmed−2%	−0.01 pp	20 q
unresolvedLeucadia National	0.37%	13,738,059	$312M	trimmed−1%	−0.09 pp	14 q
SITESiteOne Landscape Supply, Inc.	0.36%	3,950,446	$304M	trimmed−1%	−0.02 pp	4 q
ATHMAutohome Inc.	0.34%	3,406,014	$293M	added+2%	+0.07 pp	12 q
MYGNMyriad Genetics Inc	0.33%	9,562,963	$283M	trimmed−1%	−0.08 pp	19 q
IONSIonis Pharmaceuticals, Inc.	0.32%	6,262,651	$276M	trimmed−5%	−0.09 pp	10 q
BAPCredicorp LTD	0.32%	1,208,962	$274M	added+4%	+0.02 pp	20 q
CPACopa Holdings, S.A.	0.32%	2,134,407	$275M	trimmed−5%	−0.05 pp	20 q
ZZillow Group, Inc. Class C	0.31%	4,922,546	$265M	added+19%	+0.10 pp	11 q
IBNICICI Bank Limited	0.29%	28,207,029	$250M	added+2%	−0.05 pp	20 q
HHCThe Howard Hughes Corporation	0.28%	1,686,979	$235M	trimmed−1%	0.00 pp	17 q
KEXKirby Corporation	0.28%	3,106,071	$239M	trimmed−1%	+0.02 pp	9 q
WIXWIX.com Ltd.	0.26%	2,763,621	$220M	added+14%	+0.09 pp	10 q
NBISNebius Group N.V. Class A	0.26%	5,636,741	$222M	trimmed−29%	−0.06 pp	17 q
CXCemex S.A.B. de C.V.	0.25%	31,702,301	$210M	added+5%	−0.03 pp	20 q
LECOLincoln Electric Holdings Inc	0.24%	2,228,510	$200M	trimmed−0%	−0.01 pp	20 q
BBDBanco Bradesco S.A.	0.22%	15,664,424	$186M	added+10%	+0.04 pp	6 q
PBRPetroleo Brasileiro S.a.-petrobras	0.21%	12,869,926	$182M	trimmed−2%	+0.04 pp	6 q
QSRRestaurant Brands International Inc.	0.21%	3,201,782	$182M	trimmed−6%	−0.05 pp	14 q
SHOPShopify Inc. Class A subordinate voting shares	0.20%	1,385,251	$173M	added+38%	+0.07 pp	3 q
WWayfair Inc.	0.19%	2,365,049	$160M	added+16%	−0.01 pp	11 q
SRCLStericycle Inc	0.18%	2,568,656	$150M	trimmed−1%	−0.04 pp	9 q
AMDAdvanced Micro Devices	0.17%	14,548,945	$146M	trimmed−1%	−0.02 pp	4 q
WSOWatsco, Inc.	0.17%	820,948	$149M	added+12%	+0.01 pp	20 q
DNOWDNOW Inc.	0.16%	13,462,917	$138M	added+6%	−0.01 pp	16 q
HDBHDFC Bank Limited	0.15%	1,336,423	$132M	trimmed−2%	−0.02 pp	13 q
DATATableau Software, Inc.	0.15%	1,536,830	$124M	added+8%	+0.03 pp	9 q
GOOGLAlphabet Inc. Class A	0.14%	115,040	$119M	trimmed−5%	−0.02 pp	11 q
CBPOChina Biologic Products Hold	0.13%	1,338,314	$108M	trimmed−1%	0.00 pp	3 q
DNLIDenali Therapeutics Inc.	0.12%	5,192,846	$102M	added+6%	+0.02 pp	2 q
PSMTPricesmart Inc	0.12%	1,176,211	$98M	trimmed−6%	−0.01 pp	20 q
FTVFortive Corporation	0.11%	1,167,765	$91M	added+14%	+0.02 pp	7 q
CHGGChegg, Inc.	0.10%	4,212,854	$87M	added×3.9	+0.08 pp	2 q
unresolvedEllie Mae	0.10%	967,537	$89M	added+15%	+0.01 pp	19 q
EMBJEmbraer S.A.	0.10%	3,164,167	$82M	trimmed−3%	0.00 pp	20 q
VRTXVertex Pharmaceuticals Inc	0.10%	546,695	$89M	added+10%	+0.01 pp	6 q
MMYTMakeMyTrip Limited	0.10%	2,545,744	$88M	added+1%	+0.01 pp	5 q
AXPAmerican Express Company	0.09%	863,087	$81M	added+12%	−0.01 pp	19 q
CELGCelgene Corp	0.09%	822,116	$73M	added+15%	0.00 pp	7 q
ZGZillow Group Inc Class A	0.09%	1,364,582	$74M	added+1%	+0.02 pp	13 q
AIYActivision Blizzard Inc	0.08%	1,060,251	$72M	added+9%	0.00 pp	6 q
CSGPCoStar Group Inc	0.08%	199,641	$72M	added+13%	+0.01 pp	7 q
DBXDropbox, Inc. Class A	0.08%	2,185,942	$68M	new	+0.08 pp	new
PENPenumbra, Inc.	0.08%	581,703	$67M	added×7.3	+0.07 pp	3 q
MSFTMicrosoft Corp	0.07%	643,709	$59M	trimmed−0%	0.00 pp	20 q
NVCRNovoCure Limited	0.07%	2,749,639	$60M	added×4.6	+0.05 pp	2 q
AGIOAgios Pharmaceuticals, Inc.	0.06%	582,141	$48M	new	+0.06 pp	new
FASTFastenal Co	0.06%	952,592	$52M	added+4%	0.00 pp	19 q
IPGPIPG Photonics Corporation	0.06%	221,365	$52M	added+11%	+0.01 pp	20 q
VVRInvesco Senior Income Trust	0.06%	11,052,918	$49M	added+6%	0.00 pp	14 q
MULEMuleSoft, Inc.	0.06%	1,182,527	$52M	added+50%	+0.04 pp	3 q
NEWRNew Relic, Inc.	0.06%	676,608	$50M	added+35%	+0.02 pp	2 q
RDFNRedfin Corporation	0.06%	2,398,259	$55M	added×2.4	+0.02 pp	3 q
HEI.AHeico Corp Cl A	0.05%	609,409	$43M	added+47%	+0.01 pp	4 q
IRBTiRobot Corporation	0.05%	655,660	$42M	trimmed−4%	−0.01 pp	20 q
SESea Limited	0.05%	3,803,961	$43M	added0%	−0.01 pp	2 q
SFIXStitch Fix, Inc. Class A	0.05%	1,932,427	$39M	added+55%	+0.01 pp	2 q
UAUnder Armour, Inc. Class C, $0.0003 1/3 par value	0.05%	3,205,509	$46M	added+11%	0.00 pp	6 q
unresolvedVoya Prime Rate Trust	0.05%	8,835,126	$46M	held	—	14 q
SINASina Corp	0.05%	423,107	$44M	trimmed−2%	0.00 pp	9 q
BZUNBaozun Inc.	0.04%	679,634	$31M	added+27%	+0.02 pp	5 q
KOCoca-Cola Company	0.04%	830,027	$36M	trimmed−0%	−0.01 pp	17 q
unresolvedFoundation Medicine	0.04%	390,417	$31M	added+27%	+0.01 pp	15 q
GKOSGlaukos Corporation	0.04%	1,119,613	$35M	added+15%	+0.01 pp	2 q
JNJJohnson & Johnson	0.04%	266,365	$34M	trimmed−1%	−0.01 pp	20 q
unresolvedNational Instrs Corp	0.04%	731,609	$37M	trimmed−10%	0.00 pp	12 q
TJXTJX Companies, Inc. (The)	0.04%	416,287	$34M	added+16%	+0.01 pp	20 q
TRUPTrupanion, Inc.	0.04%	1,171,305	$35M	added+10%	0.00 pp	7 q
ADAPYAdaptimmune Theraptcs	0.03%	2,565,409	$29M	added+34%	+0.01 pp	9 q
AVAVAeroVironment, Inc.	0.03%	519,555	$24M	added+33%	0.00 pp	20 q
ADIAnalog Devices, Inc.	0.03%	312,872	$29M	trimmed−0%	0.00 pp	20 q
KMXCarMax Inc.	0.03%	452,299	$28M	trimmed−78%	−0.14 pp	20 q
CDXSCodexis, Inc.	0.03%	2,302,979	$25M	added+25%	+0.01 pp	13 q
ELThe Estee Lauder Companies Inc. Class A	0.03%	192,461	$29M	held	—	10 q
MCDMcDonald's Corporation	0.03%	148,087	$23M	trimmed−2%	0.00 pp	20 q
PEPPepsiCo, Inc.	0.03%	223,394	$24M	trimmed−0%	0.00 pp	20 q
PGProcter & Gamble Company	0.03%	360,449	$29M	trimmed−0%	−0.01 pp	12 q
TDOCTeladoc Health, Inc.	0.03%	530,861	$21M	added+53%	+0.01 pp	5 q
UPSUnited Parcel Service, Inc. Class B	0.03%	206,916	$22M	trimmed−0%	0.00 pp	20 q
ADROChinook Therapeutics Inc	0.02%	1,656,737	$15M	added+59%	+0.01 pp	9 q
ALBAlbemarle Corporation	0.02%	198,205	$18M	added+3%	−0.01 pp	5 q
AEEAmeren Corporation	0.02%	262,190	$15M	held	—	9 q
AAPLApple Inc.	0.02%	122,810	$21M	trimmed−0%	−0.01 pp	20 q
AGRAvangrid, Inc.	0.02%	351,820	$18M	added+1%	0.00 pp	9 q
ONCBeOne Medicines Ltd.	0.02%	87,417	$15M	added0%	+0.01 pp	9 q
BGTBlackRock Floating Rate Income Trust	0.02%	1,150,000	$16M	held	—	18 q
BLBlackLine, Inc.	0.02%	395,391	$16M	new	+0.02 pp	new
EDConsolidated Edison, Inc.	0.02%	185,972	$14M	held	—	8 q
DLBDolby Laboratories, Inc.Class A	0.02%	274,516	$17M	trimmed−3%	0.00 pp	20 q
EVFEaton Vance Senior Income Trust	0.02%	1,885,000	$13M	held	—	18 q
ESEversource Energy	0.02%	257,553	$15M	added+1%	0.00 pp	9 q
EXKExact Sciences Corp	0.02%	362,293	$15M	added+27%	0.00 pp	3 q
EXCExelon Corporation	0.02%	404,145	$16M	held	—	8 q
FAROFaro Technologies Inc	0.02%	302,133	$18M	added+19%	+0.01 pp	20 q
unresolvedFinancial Engines	0.02%	574,042	$20M	trimmed−90%	−0.19 pp	17 q
HEIHEICO Corporation	0.02%	226,967	$20M	trimmed−9%	0.00 pp	19 q
2051428DOmr Art Smgarp Eu Eq PEN-2	0.02%	493,601	$19M	trimmed−6%	−0.01 pp	6 q
MTBM&T Bank Corp.	0.02%	104,293	$19M	added+11%	0.00 pp	20 q
unresolvedMindbody Cl A	0.02%	416,379	$16M	added+39%	+0.01 pp	5 q
PCRXPacira BioSciences, Inc.	0.02%	510,097	$16M	added+38%	0.00 pp	11 q
XPHDXPioneer Floating Rate Fund	0.02%	1,236,803	$14M	held	—	18 q
RPMRPM International, Inc.	0.02%	301,184	$14M	new	+0.02 pp	new
SHWThe Sherwin-Williams Company	0.02%	43,834	$17M	added+14%	0.00 pp	19 q
SOHUNSohu.com Inc	0.02%	673,888	$21M	trimmed−1%	−0.02 pp	9 q
SPLKSplunk Inc	0.02%	206,634	$20M	added+30%	0.00 pp	18 q
STAAStaar Surgical Co	0.02%	1,071,975	$16M	added+35%	0.00 pp	6 q
unresolvedTerraform Pwr Inc	0.02%	1,774,504	$19M	added+12%	0.00 pp	10 q
VARVarian Medical Systems, Inc.	0.02%	117,375	$14M	held	—	19 q
VECOVeeco Instruments Inc	0.02%	1,209,310	$21M	added+18%	0.00 pp	10 q
WECWEC Energy Group, Inc.	0.02%	204,107	$13M	held	—	8 q
AMBAAmbarella, Inc.	0.02%	265,085	$13M	added+35%	+0.01 pp	5 q
SSYSStratasys Inc (ISRAEL)	0.02%	666,051	$13M	added+45%	+0.01 pp	20 q
unresolvedApollo Senior Floating Rate Fund Inc	0.01%	617,746	$10M	held	—	18 q
BNFTBenefitfocus, Inc.	0.01%	369,704	$9M	added+39%	0.00 pp	3 q
BGBBlackstone Strategic Credit 2027 Term Fund	0.01%	521,530	$8M	added+35%	0.00 pp	5 q
BTIBritish American Tobacco p.l.c.	0.01%	123,795	$7M	held	—	3 q
CEVACEVA Inc.	0.01%	321,250	$12M	added+49%	0.00 pp	5 q
96669EURDmrc LLC	0.01%	411,475	$10M	added+29%	0.00 pp	11 q
EIXEdison International	0.01%	197,370	$13M	added0%	−0.01 pp	8 q
HCMHUTCHMED (China) Limited	0.01%	206,140	$6M	trimmed−0%	0.00 pp	8 q
INFYInfosys Limited	0.01%	562,368	$10M	added×61.5	+0.01 pp	17 q
JTJianpu Technology Inc.	0.01%	1,014,842	$6M	new	+0.01 pp	new
Liberty Interactive LLCconvertible	0.01%	14,237,000	$9M	trimmed−6%	0.00 pp	4 q
LINDLindblad Expeditions Holdings Inc.	0.01%	1,072,701	$11M	held	—	2 q
MCHPMicrochip Technology Inc	0.01%	82,660	$8M	held	—	19 q
unresolvedNucana Plc ADR	0.01%	641,120	$12M	added+17%	0.00 pp	3 q
unresolvedNuveen Senior Income Fund	0.01%	1,915,000	$13M	held	—	18 q
XJQCXNuveen Credit Strategies Inc	0.01%	1,010,500	$8M	added+9%	0.00 pp	5 q
PCGPG&E Corporation	0.01%	244,809	$11M	added+1%	0.00 pp	9 q
unresolvedRestorbio Inc	0.01%	550,000	$5M	new	+0.01 pp	new
SLBSLB Limited	0.01%	119,127	$8M	held	—	19 q
Tesla Energy Operationsconvertible	0.01%	11,958,000	$11M	trimmed−1%	0.00 pp	4 q
Sunpower Corpconvertible	0.01%	13,346,000	$11M	added+86%	0.00 pp	4 q
WBWeibo Corporation	0.01%	96,970	$12M	trimmed−1%	0.00 pp	7 q
BCRHBlue Capital Reinsurance Hol	0.01%	629,438	$8M	held	—	18 q
ACTGAcacia Research Corporation	0.00%	365,820	$1M	held	—	20 q
ALGNAlign Technology Inc	0.00%	13,688	$3M	added+12%	0.00 pp	2 q
unresolvedChina Rapid Finance ADR	0.00%	300,000	$1M	held	—	4 q
ECLEcolab, Inc.	0.00%	13,801	$2M	added×3.4	0.00 pp	5 q
XFCTXFirst Trust Snr FL Rt Inc II	0.00%	183,676	$2M	held	—	14 q
HIMXHimax Technologies, Inc.	0.00%	675,800	$4M	held	—	12 q
KEPKorea Electric Power Corp	0.00%	65,300	$1M	added+34%	0.00 pp	7 q
REGNRegeneron Pharmaceuticals Inc	0.00%	5,500	$2M	held	—	20 q
RIORio Tinto plc	0.00%	70,626	$4M	held	—	15 q
VALEVale S.a.	0.00%	240,728	$3M	added+44%	0.00 pp	2 q
WITWipro Limited	0.00%	27,017	$139,000	added+13%	0.00 pp	12 q
XYLXylem Inc	0.00%	40,770	$3M	added×3.4	0.00 pp	5 q
unresolvedLuxoft Holding	0.00%	96,930	$4M	held	—	8 q
FOMXFoamix Pharmaceuticals Ltd	0.00%	219,400	$1M	held	—	12 q
unresolvedJuno Therapeutics Inc	—	−10,547,788	—	exited	−0.60 pp	—
TIFTiffany & Co.	—	−222,154	—	exited	−0.03 pp	—
GSGoldman Sachs Group Inc.	—	−74,687	—	exited	−0.02 pp	—