Baillie Gifford

Q4 2018 13F

As of: Dec 31, 2018
Filed: Feb 14, 2019
US stock: $77.0B · prev $92.6B
Positions: 226 · prev 224
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%

Moves208 since the prior filing

+3.5 pp in · −3.5 pp out

New 7 +0.30 pp
Added 131 +3.19 pp
Trimmed 65 −3.42 pp
Exited 5 −0.12 pp

The book

Focused · behaves like 32 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 10.0% a year, about 10.0 years per position

Low
Moderate
High

Top 5 positions33% of US stock

AMZN Amazon.Com Inc added−0.96 pp added−0.968.8%
BABA Alibaba Group Holding Limited added+0.36 pp added+0.368.4%
ILMN Illumina Inc trimmed−0.14 pp trimmed−0.146.3%
TSLA Tesla, Inc. added+1.97 pp added+1.975.7%
BIDU Baidu, Inc. trimmed−0.83 pp trimmed−0.833.7%

Positions226 in this filing · 5 exited


AMZNAmazon.Com Inc	8.85%	4,536,366	$6.8B	added0%	−0.96 pp	23 q
BABAAlibaba Group Holding Limited	8.42%	47,311,293	$6.5B	added+4%	+0.36 pp	18 q
ILMNIllumina Inc	6.26%	16,078,282	$4.8B	trimmed−0%	−0.14 pp	23 q
TSLATesla, Inc.	5.72%	13,234,382	$4.4B	added+1%	+1.97 pp	23 q
BIDUBaidu, Inc.	3.73%	18,113,194	$2.9B	trimmed−2%	−0.83 pp	23 q
GOOGAlphabet Inc. Class C	3.10%	2,306,270	$2.4B	trimmed−0%	+0.12 pp	19 q
METAMeta Platforms, Inc. Class A	2.89%	16,991,073	$2.2B	trimmed−0%	−0.13 pp	23 q
NFLXNetFlix Inc	2.65%	7,629,879	$2.0B	added+2%	−0.38 pp	16 q
SPOTSpotify Technology S.A.	2.59%	17,565,904	$2.0B	added+16%	−0.37 pp	3 q
MELIMercado Libre, Inc	1.98%	5,208,620	$1.5B	added+2%	+0.11 pp	23 q
RACEFerrari N.V.	1.84%	14,283,321	$1.4B	added0%	−0.28 pp	12 q
CTRPTrip.com Group Limited	1.69%	48,210,910	$1.3B	trimmed−10%	−0.45 pp	23 q
TALTAL Education Group	1.64%	47,409,312	$1.3B	trimmed−1%	+0.31 pp	12 q
ELVElevance Health, Inc.	1.52%	4,461,705	$1.2B	added0%	+0.20 pp	17 q
MAMastercard Incorporated	1.44%	5,891,766	$1.1B	added+4%	+0.07 pp	23 q
ISRGIntuitive Surgical Inc.	1.36%	2,182,969	$1.0B	trimmed−5%	−0.06 pp	23 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	1.27%	26,566,985	$981M	trimmed−31%	−0.56 pp	12 q
WDAYWorkday, Inc. Class A	1.27%	6,127,679	$978M	trimmed−5%	+0.25 pp	23 q
unresolvedFiat Chrysler Automobiles NV s	1.21%	64,375,636	$933M	trimmed−11%	−0.17 pp	17 q
NVDANvidia Corp	1.14%	6,594,653	$880M	trimmed−1%	−0.88 pp	12 q
MKTXMarketAxess Holdings Inc.	1.10%	4,018,282	$849M	added+9%	+0.39 pp	23 q
MCOMoody's Corporation	1.09%	5,994,948	$840M	added0%	+0.01 pp	23 q
VVISA Inc.	1.04%	6,043,924	$797M	trimmed−0%	+0.06 pp	23 q
CRMSalesforce, Inc.	0.96%	5,391,565	$738M	trimmed−3%	+0.01 pp	23 q
unresolvedGrubhub Inc	0.93%	9,352,030	$718M	added+10%	−0.35 pp	15 q
NTESNetEase, inc.	0.88%	2,867,460	$675M	trimmed−2%	+0.16 pp	10 q
unresolvedAtlassian Corp Plc	0.88%	7,610,193	$677M	trimmed−3%	+0.07 pp	11 q
9990302DApache Corp	0.83%	24,364,479	$640M	trimmed−0%	−0.43 pp	23 q
IBNICICI Bank Limited	0.83%	61,840,622	$636M	trimmed−2%	+0.25 pp	23 q
DXCMDexCom, Inc.	0.77%	4,929,405	$591M	trimmed−3%	−0.02 pp	23 q
FRCBFirst Republic Bk CA	0.76%	6,708,104	$583M	added+8%	+0.12 pp	23 q
MKLMarkel Group Inc.	0.74%	551,608	$573M	trimmed−1%	+0.03 pp	23 q
RMDResMed Inc.	0.72%	4,846,100	$552M	added0%	+0.12 pp	10 q
TMOThermo Fisher Scientific, Inc.	0.69%	2,369,894	$530M	trimmed−0%	+0.06 pp	5 q
AJGArthur J. Gallagher & Co.	0.68%	7,143,637	$526M	added0%	+0.11 pp	5 q
SHOPShopify Inc. Class A subordinate voting shares	0.68%	3,788,009	$524M	added+22%	+0.13 pp	6 q
KEXKirby Corporation	0.67%	7,688,593	$518M	added+35%	+0.16 pp	12 q
NIONIO Inc.	0.66%	80,256,394	$511M	trimmed−6%	+0.02 pp	2 q
MLMMartin Marietta Materials	0.65%	2,931,335	$504M	trimmed−11%	0.00 pp	23 q
RYAAYRyanair Holdings plc	0.63%	6,792,319	$485M	added+16%	+0.02 pp	13 q
SCIService Corporation International	0.62%	11,940,093	$481M	added+47%	+0.23 pp	2 q
WATWaters Corp	0.62%	2,511,834	$474M	trimmed−2%	+0.08 pp	23 q
IONSIonis Pharmaceuticals, Inc.	0.61%	8,750,014	$473M	trimmed−2%	+0.11 pp	13 q
RCLRoyal Caribbean Group	0.59%	4,647,040	$454M	trimmed−1%	−0.07 pp	23 q
unresolvedBluebird Bio Inc	0.58%	4,529,123	$449M	trimmed−2%	−0.15 pp	16 q
BAPCredicorp LTD	0.58%	2,030,635	$450M	added+1%	+0.10 pp	23 q
CHRWC.H. Robinson Worldwide, Inc.	0.56%	5,167,259	$435M	added+1%	+0.02 pp	22 q
EOGEOG Resources, Inc.	0.56%	4,962,395	$433M	added0%	−0.12 pp	23 q
ITUBItau Unibanco Holding S.A.	0.53%	44,377,465	$406M	added+5%	+0.20 pp	23 q
VRSKVerisk Analytics, Inc.	0.51%	3,595,467	$392M	trimmed−18%	−0.06 pp	11 q
AMTTd Ameritrade Holding Corp	0.50%	7,868,220	$385M	trimmed−13%	−0.02 pp	23 q
SGENSeagen Inc.	0.49%	6,721,760	$381M	trimmed−50%	−0.63 pp	23 q
IBKRInteractive Brokers Group, Inc. Class A	0.48%	6,814,747	$371M	added+7%	+0.10 pp	12 q
PBRPetroleo Brasileiro S.a.-petrobras	0.48%	28,108,128	$366M	added+53%	+0.24 pp	9 q
RBARB Global, Inc.	0.47%	11,089,983	$363M	trimmed−1%	+0.03 pp	23 q
WABWabtec Inc.	0.47%	5,103,487	$359M	added+4%	−0.08 pp	12 q
MTDMettler-Toledo International	0.46%	627,108	$355M	added+5%	+0.07 pp	23 q
ZZillow Group, Inc. Class C	0.46%	11,283,450	$356M	added+9%	−0.04 pp	14 q
ABMDAbiomed Inc	0.45%	1,068,859	$347M	added+33%	+0.06 pp	13 q
ALNYAlnylam Pharmaceuticals, Inc.	0.45%	4,746,850	$346M	added+6%	+0.03 pp	23 q
WWayfair Inc.	0.44%	3,773,309	$340M	added+33%	−0.01 pp	14 q
TREELendingTree, Inc.	0.40%	1,390,523	$305M	added0%	+0.05 pp	12 q
UAAUnder Armour, Inc.	0.40%	17,590,526	$311M	trimmed−3%	−0.02 pp	14 q
MYGNMyriad Genetics Inc	0.36%	9,484,944	$276M	trimmed−1%	−0.11 pp	22 q
TERTeradyne, Inc.	0.35%	8,563,539	$269M	trimmed−1%	+0.01 pp	23 q
ATHMAutohome Inc.	0.34%	3,378,601	$264M	added0%	+0.06 pp	15 q
WUBA58.COM Inc	0.34%	4,802,970	$260M	added+1%	−0.04 pp	7 q
CPACopa Holdings, S.A.	0.33%	3,198,998	$252M	added+1%	+0.06 pp	23 q
DATATableau Software, Inc.	0.32%	2,060,560	$247M	added+16%	+0.10 pp	12 q
JEFJefferies Financial Group Inc.	0.31%	13,901,018	$241M	added+1%	−0.02 pp	3 q
WIXWIX.com Ltd.	0.31%	2,626,561	$237M	added+4%	−0.02 pp	13 q
CHGGChegg, Inc.	0.30%	8,230,708	$234M	added+48%	+0.13 pp	5 q
CMGChipotle Mexican Grill, Inc.	0.28%	504,658	$218M	trimmed−0%	+0.03 pp	2 q
BBDBanco Bradesco S.A.	0.27%	21,015,442	$208M	added+6%	+0.12 pp	9 q
JDJD.com, Inc.	0.27%	9,875,846	$207M	trimmed−5%	−0.02 pp	19 q
ALBAlbemarle Corporation	0.26%	2,636,011	$203M	added+1%	−0.02 pp	8 q
SRCLStericycle Inc	0.26%	5,393,108	$198M	trimmed−0%	−0.08 pp	12 q
DNOWDNOW Inc.	0.24%	15,691,496	$183M	added+7%	−0.02 pp	19 q
HHCThe Howard Hughes Corporation	0.22%	1,726,502	$169M	added+2%	−0.01 pp	20 q
CXCemex S.A.B. de C.V.	0.21%	34,061,771	$164M	added+5%	−0.04 pp	23 q
WSOWatsco, Inc.	0.20%	1,112,542	$155M	added+20%	+0.02 pp	23 q
NVCRNovoCure Limited	0.20%	4,498,524	$151M	added+28%	0.00 pp	5 q
SITESiteOne Landscape Supply, Inc.	0.19%	2,602,828	$144M	trimmed−1%	−0.02 pp	7 q
TTDThe Trade Desk, Inc.	0.19%	1,239,786	$144M	added×2.1	+0.09 pp	2 q
HDBHDFC Bank Limited	0.18%	1,331,300	$138M	trimmed−1%	+0.04 pp	16 q
GOOGLAlphabet Inc. Class A	0.17%	125,657	$131M	added+1%	+0.01 pp	14 q
DNLIDenali Therapeutics Inc.	0.17%	6,227,724	$129M	added+14%	+0.04 pp	5 q
VRTXVertex Pharmaceuticals Inc	0.16%	727,162	$120M	added+22%	+0.04 pp	9 q
AMDAdvanced Micro Devices	0.15%	6,200,000	$114M	trimmed−17%	−0.10 pp	7 q
CSGPCoStar Group Inc	0.14%	319,879	$108M	added+40%	+0.04 pp	10 q
FTVFortive Corporation	0.14%	1,550,553	$105M	added+19%	+0.02 pp	10 q
PENPenumbra, Inc.	0.14%	906,022	$111M	added+36%	+0.03 pp	6 q
TMETencent Music Entertainment Group	0.14%	8,196,089	$108M	new	+0.14 pp	new
BRFSNBrf Sa-adr	0.13%	17,336,132	$98M	added+23%	+0.05 pp	3 q
GKOSGlaukos Corporation	0.13%	1,725,483	$97M	added+28%	+0.04 pp	5 q
unresolvedEllie Mae	0.11%	1,360,791	$85M	added+23%	0.00 pp	22 q
NEWRNew Relic, Inc.	0.11%	1,003,745	$81M	added+29%	+0.03 pp	5 q
AIYActivision Blizzard Inc	0.10%	1,733,278	$81M	added+55%	0.00 pp	9 q
PDDPDD Holdings Inc.	0.10%	3,401,234	$76M	trimmed−31%	−0.04 pp	2 q
MMYTMakeMyTrip Limited	0.10%	3,222,819	$78M	added+25%	+0.02 pp	8 q
CELGCelgene Corp	0.09%	1,058,511	$68M	added+16%	0.00 pp	10 q
MSFTMicrosoft Corp	0.09%	648,921	$66M	trimmed−1%	+0.01 pp	23 q
PSMTPricesmart Inc	0.09%	1,214,396	$72M	added+1%	−0.02 pp	23 q
RDFNRedfin Corporation	0.09%	4,684,049	$67M	added+25%	+0.01 pp	6 q
UAUnder Armour, Inc. Class C, $0.0003 1/3 par value	0.09%	4,443,253	$72M	added+24%	+0.01 pp	9 q
HEI.AHeico Corp Cl A	0.08%	1,002,646	$63M	added+17%	+0.01 pp	7 q
IRBTiRobot Corporation	0.08%	710,334	$59M	added+2%	0.00 pp	23 q
5RTRubius Therapeutics Inc	0.08%	4,056,196	$65M	added+4%	−0.02 pp	2 q
SFIXStitch Fix, Inc. Class A	0.08%	3,600,131	$62M	added+48%	−0.03 pp	5 q
UBXGBUnity Biotechnology Inc	0.08%	3,803,014	$62M	held	—	3 q
AVAVAeroVironment, Inc.	0.07%	758,938	$52M	trimmed−6%	−0.03 pp	23 q
EXKExact Sciences Corp	0.07%	883,894	$56M	added+2%	0.00 pp	6 q
FASTFastenal Co	0.07%	1,048,883	$55M	added+6%	+0.01 pp	22 q
PBR.APetroleo Brasileiro S.A.-Petrobras	0.07%	4,403,370	$51M	added+95%	+0.04 pp	3 q
STAAStaar Surgical Co	0.07%	1,705,521	$54M	added+10%	−0.01 pp	9 q
PLANAnaplan, Inc.	0.06%	1,871,644	$50M	new	+0.06 pp	new
KOCoca-Cola Company	0.06%	928,369	$44M	added+6%	+0.02 pp	20 q
CDXSCodexis, Inc.	0.06%	2,884,490	$48M	added+3%	+0.01 pp	16 q
DBXDropbox, Inc. Class A	0.06%	2,185,941	$45M	held	—	4 q
SESea Limited	0.06%	3,999,604	$45M	added0%	0.00 pp	5 q
TERPTerraForm Power, Inc	0.06%	4,262,820	$48M	added×2.1	+0.04 pp	3 q
AGIOAgios Pharmaceuticals, Inc.	0.05%	862,715	$40M	added+29%	−0.01 pp	4 q
BNFTBenefitfocus, Inc.	0.05%	830,179	$38M	added+3%	+0.01 pp	6 q
unresolvedNational Instrs Corp	0.05%	794,065	$36M	trimmed−0%	+0.01 pp	15 q
PCRXPacira BioSciences, Inc.	0.05%	933,541	$40M	added+16%	+0.01 pp	14 q
PGProcter & Gamble Company	0.05%	413,039	$38M	added+10%	+0.02 pp	15 q
TDOCTeladoc Health, Inc.	0.05%	740,042	$37M	added+6%	−0.02 pp	8 q
ZGZillow Group Inc Class A	0.05%	1,106,957	$35M	trimmed−11%	−0.01 pp	16 q
ADIAnalog Devices, Inc.	0.04%	353,444	$30M	added+10%	+0.01 pp	23 q
BZUNBaozun Inc.	0.04%	988,911	$29M	added+6%	−0.01 pp	8 q
KMXCarMax Inc.	0.04%	461,631	$29M	trimmed−1%	0.00 pp	23 q
GGALGrupo Financiero Galicia SA	0.04%	993,833	$27M	trimmed−1%	+0.01 pp	2 q
IPGPIPG Photonics Corporation	0.04%	264,376	$30M	trimmed−3%	−0.01 pp	23 q
MCDMcDonald's Corporation	0.04%	171,268	$30M	added+13%	+0.01 pp	23 q
PEPPepsiCo, Inc.	0.04%	258,444	$29M	added+13%	+0.01 pp	23 q
SPLKSplunk Inc	0.04%	318,237	$33M	added+3%	0.00 pp	21 q
TJXTJX Companies, Inc. (The)	0.04%	718,097	$32M	trimmed−11%	−0.01 pp	23 q
TRUPTrupanion, Inc.	0.04%	1,293,041	$33M	added+2%	−0.01 pp	10 q
ADAPYAdaptimmune Theraptcs	0.03%	3,699,521	$21M	added+8%	−0.02 pp	12 q
AEEAmeren Corporation	0.03%	338,036	$22M	added+24%	+0.01 pp	12 q
AXPAmerican Express Company	0.03%	239,189	$23M	trimmed−5%	0.00 pp	22 q
AAPLApple Inc.	0.03%	130,011	$21M	added+4%	0.00 pp	23 q
AGRAvangrid, Inc.	0.03%	455,589	$23M	added+28%	+0.01 pp	12 q
BMABanco Macro S.A.	0.03%	498,899	$22M	added+9%	+0.01 pp	2 q
BXKBancolombia S.a.-spons ADR	0.03%	562,894	$21M	new	+0.03 pp	new
BLBlackLine, Inc.	0.03%	608,421	$25M	added+3%	−0.01 pp	4 q
EDConsolidated Edison, Inc.	0.03%	321,937	$25M	added+48%	+0.01 pp	11 q
ESEversource Energy	0.03%	390,318	$25M	added+36%	+0.01 pp	12 q
EVHEvolent Health, Inc Class A	0.03%	1,030,753	$21M	added+3%	0.00 pp	3 q
EXCExelon Corporation	0.03%	523,583	$24M	added+21%	+0.01 pp	11 q
ELThe Estee Lauder Companies Inc. Class A	0.03%	188,260	$24M	trimmed−2%	0.00 pp	13 q
unresolvedMindbody Cl A	0.03%	577,882	$21M	added+3%	+0.01 pp	8 q
MRNAModerna, Inc.	0.03%	1,725,844	$26M	new	+0.03 pp	new
RPMRPM International, Inc.	0.03%	358,701	$21M	added+17%	+0.01 pp	4 q
SVMKSVMK Inc.	0.03%	1,769,756	$22M	held	—	2 q
UPSUnited Parcel Service, Inc. Class B	0.03%	221,527	$22M	added+3%	0.00 pp	23 q
WECWEC Energy Group, Inc.	0.03%	323,633	$22M	added+45%	+0.01 pp	11 q
unresolvedCyberArk Software Ltd	0.03%	316,300	$23M	added+3%	0.00 pp	3 q
AXGNAxogen, Inc.	0.02%	636,800	$13M	added×49.9	+0.02 pp	2 q
AXONAxon Enterprise, Inc.	0.02%	380,618	$17M	new	+0.02 pp	new
ONCBeOne Medicines Ltd.	0.02%	94,716	$13M	added+16%	0.00 pp	12 q
CFRCullen/Frost Bankers Inc.	0.02%	158,901	$14M	added+13%	0.00 pp	2 q
DLBDolby Laboratories, Inc.Class A	0.02%	233,877	$14M	added+5%	0.00 pp	23 q
EIXEdison International	0.02%	328,956	$19M	added+52%	0.00 pp	11 q
FAROFaro Technologies Inc	0.02%	354,985	$14M	added+4%	0.00 pp	23 q
HEIHEICO Corporation	0.02%	248,010	$19M	trimmed−0%	0.00 pp	22 q
INFYInfosys Limited	0.02%	1,218,669	$12M	added+7%	+0.01 pp	20 q
VVRInvesco Senior Income Trust	0.02%	3,310,700	$13M	held	—	17 q
JTJianpu Technology Inc.	0.02%	3,719,720	$16M	added+96%	+0.01 pp	4 q
JNJJohnson & Johnson	0.02%	94,866	$12M	trimmed−57%	−0.01 pp	23 q
LINDLindblad Expeditions Holdings Inc.	0.02%	1,072,701	$14M	held	—	5 q
MTBM&T Bank Corp.	0.02%	96,766	$14M	trimmed−7%	0.00 pp	23 q
unresolvedNucana Plc ADR	0.02%	827,308	$12M	held	—	6 q
ORTXOrchard Therapeutics plc	0.02%	925,000	$15M	new	+0.02 pp	new
Tesla Energy Operationsconvertible	0.02%	17,486,000	$16M	added+34%	+0.01 pp	7 q
TNDMTandem Diabetes Care, Inc.	0.02%	434,700	$17M	held	—	2 q
VARVarian Medical Systems, Inc.	0.02%	108,904	$12M	trimmed−7%	+0.01 pp	22 q
YEXTYext, Inc.	0.02%	1,293,791	$19M	added+33%	0.00 pp	2 q
AMBAAmbarella, Inc.	0.02%	377,363	$13M	added+3%	0.00 pp	8 q
SSYSStratasys Inc (ISRAEL)	0.02%	759,891	$14M	added+4%	0.00 pp	23 q
ADROChinook Therapeutics Inc	0.01%	3,661,173	$10M	added+19%	−0.01 pp	12 q
BGTBlackRock Floating Rate Income Trust	0.01%	802,170	$9M	trimmed−0%	0.00 pp	21 q
BTIBritish American Tobacco p.l.c.	0.01%	137,840	$4M	added0%	0.00 pp	6 q
CEVACEVA Inc.	0.01%	393,221	$9M	added+3%	0.00 pp	8 q
96669EURDmrc LLC	0.01%	477,820	$7M	added+5%	−0.01 pp	14 q
ECLEcolab, Inc.	0.01%	47,528	$7M	added+10%	0.00 pp	8 q
HCMHUTCHMED (China) Limited	0.01%	198,959	$5M	added+1%	0.00 pp	11 q
Liberty Interactive LLCconvertible	0.01%	18,085,000	$11M	added+24%	0.00 pp	7 q
LECOLincoln Electric Holdings Inc	0.01%	51,216	$4M	trimmed−29%	0.00 pp	23 q
2051428DOmr Art Smgarp Eu Eq PEN-2	0.01%	329,256	$11M	trimmed−3%	−0.01 pp	9 q
37MMrc Global Inc	0.01%	650,000	$8M	held	—	2 q
XPHDXPioneer Floating Rate Fund	0.01%	550,936	$5M	held	—	21 q
unresolvedRestorbio Inc	0.01%	983,618	$8M	held	—	4 q
SLBSLB Limited	0.01%	110,529	$4M	trimmed−7%	0.00 pp	22 q
SHWThe Sherwin-Williams Company	0.01%	19,584	$8M	trimmed−58%	−0.01 pp	22 q
SOHUSohu.com Limited	0.01%	238,860	$4M	trimmed−66%	−0.01 pp	3 q
Sunpower Corpconvertible	0.01%	7,838,000	$6M	trimmed−37%	0.00 pp	7 q
unresolvedUxin ADR	0.01%	1,248,400	$6M	added×5.0	+0.01 pp	2 q
VECOVeeco Instruments Inc	0.01%	1,518,586	$11M	added+1%	−0.01 pp	13 q
XYLXylem Inc	0.01%	140,336	$9M	added+9%	0.00 pp	8 q
SINASina Corp	0.01%	131,550	$7M	held	—	12 q
ACTGAcacia Research Corporation	0.00%	365,820	$1M	held	—	23 q
ALGNAlign Technology Inc	0.00%	8,677	$2M	trimmed−37%	−0.01 pp	5 q
NLYAnnaly Capital Management. Inc.	0.00%	13,963	$137,000	added+22%	0.00 pp	2 q
ARIApollo Commercial Real Estate Finance, Inc.	0.00%	9,500	$158,000	added+30%	0.00 pp	2 q
unresolvedAslan Pharmaceuticals ADR	0.00%	450,133	$2M	held	—	3 q
2663134DBitauto Holdings Ltd-adr	0.00%	54,492	$1M	trimmed−6%	0.00 pp	3 q
unresolvedBlue Apron Holdings Inc	0.00%	1,313,400	$1M	held	—	2 q
unresolvedChina Rapid Finance ADR	0.00%	300,000	$306,000	held	—	7 q
EWEdwards Lifesciences Corp	0.00%	1,327	$203,000	new	0.00 pp	new
HIMXHimax Technologies, Inc.	0.00%	675,800	$2M	held	—	15 q
KEPKorea Electric Power Corp	0.00%	75,000	$1M	added+15%	0.00 pp	10 q
MBTMobile TeleSystems Public Joint Stock Company	0.00%	16,600	$116,000	added+22%	0.00 pp	2 q
unresolvedNuveen Senior Income Fund	0.00%	383,602	$2M	trimmed−35%	0.00 pp	21 q
RIORio Tinto plc	0.00%	70,626	$3M	held	—	18 q
SVJTYSeverstal Pao SPNS/GDR	0.00%	8,085	$110,000	added+23%	0.00 pp	2 q
SNAPSnap Inc.	0.00%	159,389	$878,000	trimmed−35%	0.00 pp	3 q
TRGPTarga Resources Corp.	0.00%	1,783	$64,000	added+22%	0.00 pp	2 q
VGRVector Group Ltd.	0.00%	5,100	$50,000	added+21%	0.00 pp	2 q
unresolvedVoya Prime Rate Trust	0.00%	764,400	$3M	held	—	17 q
WBWeibo Corporation	0.00%	26,310	$2M	held	—	10 q
WITWipro Limited	0.00%	98,583	$506,000	held	—	15 q
BCRHBlue Capital Reinsurance Hol	0.00%	629,438	$3M	held	—	21 q
unresolvedLuxoft Holding	0.00%	96,930	$3M	held	—	11 q
SFLSFL Corporation Ltd.	0.00%	10,100	$106,000	added+22%	0.00 pp	2 q
FOMXFoamix Pharmaceuticals Ltd	0.00%	219,400	$787,000	held	—	15 q
CBPOChina Biologic Products Hold	—	−882,105	—	exited	−0.08 pp	—
EMBJEmbraer S.A.	—	−961,454	—	exited	−0.02 pp	—
MCHPMicrochip Technology Inc	—	−82,660	—	exited	−0.01 pp	—
PCGPG&E Corporation	—	−267,109	—	exited	−0.01 pp	—
unresolvedFederal Realty Investment Trust REIT	—	−2,100	—	exited	0.00 pp	—