Baillie Gifford

Q3 2025 13F

As of: Sep 30, 2025
Filed: Oct 31, 2025
US stock: $135.0B · prev $133.9B
Positions: 265 · prev 264
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%

Moves268 since the prior filing

+1.7 pp in · −1.7 pp out

New 19 +0.65 pp
Added 43 +1.00 pp
Trimmed 188 −1.36 pp
Exited 18 −0.33 pp

The book

Focused · behaves like 37 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 7.0% a year, about 14.4 years per position

Low
Moderate
High

Top 5 positions27% of US stock

Positions265 in this filing · 18 exited


NVDANvidia Corp	6.43%	46,549,296	$8.7B	trimmed−5%	+0.64 pp	39 q
MELIMercado Libre, Inc	5.74%	3,317,443	$7.8B	trimmed−5%	−1.10 pp	50 q
SESea Limited	5.31%	40,090,290	$7.2B	trimmed−4%	+0.34 pp	32 q
AMZNAmazon.Com Inc	5.15%	31,659,114	$7.0B	trimmed−5%	−0.31 pp	50 q
SPOTSpotify Technology S.A.	4.50%	8,695,348	$6.1B	trimmed−10%	−1.02 pp	30 q
SHOPShopify Inc. Class A subordinate voting shares	3.90%	35,443,787	$5.3B	trimmed−6%	+0.65 pp	33 q
CPNGCoupang, Inc.	3.59%	150,382,707	$4.8B	trimmed−7%	−0.01 pp	19 q
NETCloudflare, Inc. Class A, par value $0.001 per share	3.47%	21,848,740	$4.7B	trimmed−14%	−0.26 pp	22 q
APPApplovin Corporation Class A	3.32%	6,245,960	$4.5B	trimmed−2%	+1.65 pp	5 q
NFLXNetFlix Inc	3.24%	3,649,047	$4.4B	trimmed−7%	−0.66 pp	43 q
PDDPDD Holdings Inc.	3.11%	31,799,003	$4.2B	trimmed−7%	+0.42 pp	29 q
NUNu Holdings Ltd.	2.98%	251,459,587	$4.0B	trimmed−4%	+0.31 pp	16 q
METAMeta Platforms, Inc. Class A	2.88%	5,290,228	$3.9B	trimmed−3%	−0.13 pp	50 q
RBLXRoblox Corporation	2.39%	23,296,603	$3.2B	trimmed−12%	+0.32 pp	15 q
MSFTMicrosoft Corp	2.25%	5,860,839	$3.0B	trimmed−3%	+0.01 pp	50 q
DASHDoorDash, Inc. Class A	1.67%	8,268,768	$2.2B	trimmed−8%	+0.02 pp	20 q
RACEFerrari N.V.	1.41%	3,941,830	$1.9B	trimmed−7%	−0.14 pp	39 q
DDOGDatadog, Inc. Class A	1.20%	11,413,479	$1.6B	trimmed−5%	0.00 pp	21 q
IOTSamsara Inc.	1.14%	41,451,960	$1.5B	trimmed−6%	−0.16 pp	11 q
TTDThe Trade Desk, Inc.	1.06%	29,115,119	$1.4B	trimmed−5%	−0.59 pp	29 q
RDDTReddit, Inc.	1.04%	6,107,185	$1.4B	trimmed−6%	+0.31 pp	3 q
TEAMAtlassian Corporation Class A	0.96%	8,115,526	$1.3B	trimmed−5%	−0.33 pp	13 q
ALNYAlnylam Pharmaceuticals, Inc.	0.94%	2,789,356	$1.3B	trimmed−8%	+0.20 pp	50 q
ISRGIntuitive Surgical Inc.	0.86%	2,602,598	$1.2B	trimmed−16%	−0.40 pp	50 q
DXCMDexCom, Inc.	0.79%	15,882,168	$1.1B	trimmed−5%	−0.30 pp	50 q
ELFe.l.f. Beauty, Inc.	0.72%	7,349,678	$974M	trimmed−5%	0.00 pp	6 q
DUOLDuolingo, Inc. Class A	0.67%	2,827,834	$910M	added+29%	0.00 pp	17 q
MAMastercard Incorporated	0.66%	1,559,732	$887M	trimmed−2%	−0.01 pp	50 q
XYZBlock, Inc.	0.62%	11,655,303	$842M	trimmed−3%	+0.01 pp	13 q
RYAAYRyanair Holdings plc	0.60%	13,485,567	$812M	trimmed−15%	−0.08 pp	40 q
SCIService Corporation International	0.60%	9,689,267	$806M	trimmed−3%	−0.01 pp	29 q
JOBYJoby Aviation, Inc.	0.60%	50,420,953	$814M	trimmed−5%	+0.18 pp	17 q
BNTXBioNTech SE	0.58%	7,879,359	$777M	trimmed−2%	−0.06 pp	19 q
TEMTempus AI, Inc. Class A	0.58%	9,692,441	$782M	trimmed−20%	+0.01 pp	2 q
MLMMartin Marietta Materials	0.56%	1,195,794	$754M	trimmed−3%	+0.06 pp	50 q
TSLATesla, Inc.	0.55%	1,657,487	$737M	trimmed−3%	+0.15 pp	50 q
GOOGAlphabet Inc. Class C	0.52%	2,906,948	$708M	trimmed−2%	+0.13 pp	46 q
ELVElevance Health, Inc.	0.52%	2,166,914	$700M	trimmed−3%	−0.13 pp	44 q
CSGPCoStar Group Inc	0.52%	8,241,642	$695M	trimmed−4%	+0.01 pp	37 q
SYMSymbotic Inc. Class A	0.51%	12,683,739	$684M	trimmed−6%	+0.12 pp	7 q
RIVNRivian Automotive, Inc. Class A	0.49%	44,937,443	$660M	trimmed−6%	0.00 pp	16 q
PODDInsulet Corporation	0.48%	2,091,698	$646M	trimmed−2%	−0.02 pp	8 q
SNOWSnowflake Inc.	0.47%	2,795,556	$631M	trimmed−2%	−0.01 pp	21 q
AZOAutoZone, Inc.	0.46%	143,931	$617M	trimmed−3%	+0.05 pp	14 q
RPRXRoyalty Pharma plc Class A	0.45%	17,372,502	$613M	trimmed−4%	−0.03 pp	15 q
RKLBRocket Lab Corporation	0.43%	12,125,910	$581M	added×2.8	+0.31 pp	2 q
AVAVAeroVironment, Inc.	0.42%	1,783,679	$562M	trimmed−8%	+0.01 pp	50 q
MRNAModerna, Inc.	0.42%	21,846,666	$564M	trimmed−1%	−0.04 pp	28 q
WIXWIX.com Ltd.	0.38%	2,892,145	$514M	trimmed−3%	+0.03 pp	40 q
ENSGThe Ensign Group, Inc.	0.36%	2,818,609	$487M	added+96%	+0.19 pp	5 q
MMYTMakeMyTrip Limited	0.35%	5,040,061	$472M	trimmed−12%	−0.07 pp	35 q
CBRECbre Group, Inc.	0.33%	2,831,173	$446M	trimmed−6%	+0.02 pp	22 q
AFRMAffirm Holdings, Inc. Class A	0.32%	5,895,362	$431M	trimmed−22%	−0.07 pp	19 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.32%	1,564,060	$437M	trimmed−31%	−0.06 pp	39 q
TXNTexas Instruments Incorporated	0.31%	2,283,802	$420M	trimmed−2%	−0.05 pp	14 q
BAPCredicorp LTD	0.31%	1,582,745	$421M	trimmed−3%	+0.04 pp	50 q
AURAurora Innovation, Inc. Class A	0.30%	75,554,014	$407M	trimmed−1%	0.00 pp	16 q
PBRPetroleo Brasileiro S.a.-petrobras	0.30%	32,087,693	$406M	trimmed−21%	−0.08 pp	36 q
UBERUber Technologies, Inc.	0.30%	4,179,231	$409M	trimmed−2%	0.00 pp	3 q
FTAIFTAI Aviation Ltd.	0.30%	2,427,732	$405M	trimmed−6%	+0.08 pp	2 q
KSPIJoint Stock Company Kaspi.kz American Depository Shares	0.29%	4,785,985	$391M	trimmed−5%	−0.03 pp	7 q
MSCIMSCI, Inc.	0.29%	691,554	$392M	added+92%	+0.13 pp	2 q
MKLMarkel Group Inc.	0.28%	196,886	$376M	trimmed−2%	−0.02 pp	50 q
SQMSociedad Quimica y Minera de Chile SA	0.28%	8,861,882	$381M	trimmed−4%	+0.04 pp	4 q
WSOWatsco, Inc.	0.28%	944,086	$382M	trimmed−3%	−0.04 pp	50 q
ODDODDITY Tech Ltd. Class A	0.28%	6,045,720	$377M	trimmed−1%	−0.06 pp	9 q
FMXFomento Economico Mexicano, S.a.b. De C.v.	0.27%	3,752,745	$370M	trimmed−12%	−0.06 pp	10 q
SPGIS&P Global Inc.	0.27%	760,240	$370M	trimmed−2%	−0.03 pp	22 q
WWayfair Inc.	0.27%	4,149,211	$371M	trimmed−27%	+0.05 pp	41 q
WDAYWorkday, Inc. Class A	0.27%	1,528,946	$368M	trimmed−5%	−0.02 pp	50 q
MCOMoody's Corporation	0.26%	738,640	$352M	added0%	−0.02 pp	50 q
PAYCPaycom Software, Inc.	0.26%	1,708,662	$356M	added+10%	−0.01 pp	6 q
WMSAdvanced Drainage Systems, Inc.	0.25%	2,395,071	$332M	trimmed−3%	+0.04 pp	12 q
FIXComfort Systems USA, Inc.	0.25%	412,784	$341M	trimmed−5%	+0.08 pp	9 q
DGDollar General Corp.	0.25%	3,247,432	$336M	trimmed−3%	−0.04 pp	2 q
BNBrookfield Corporation	0.24%	4,822,387	$331M	added+1%	+0.02 pp	10 q
GHGuardant Health, Inc.	0.24%	5,127,692	$320M	added+7%	+0.05 pp	8 q
CPACopa Holdings, S.A.	0.24%	2,765,296	$329M	trimmed−5%	0.00 pp	50 q
MEDPMedpace Holdings, Inc.	0.22%	584,796	$301M	added+12%	+0.10 pp	6 q
TMETencent Music Entertainment Group	0.22%	13,007,199	$304M	trimmed−23%	−0.02 pp	28 q
DKNGDraftKings Inc. Class A	0.21%	7,687,841	$288M	trimmed−3%	−0.04 pp	4 q
DOCSDoximity, Inc.	0.21%	3,849,762	$282M	trimmed−2%	+0.03 pp	13 q
AJGArthur J. Gallagher & Co.	0.21%	908,885	$282M	trimmed−3%	−0.01 pp	32 q
GRABGrab Holdings Limited Class A	0.21%	47,625,480	$287M	trimmed−1%	+0.03 pp	6 q
CRMSalesforce, Inc.	0.20%	1,120,363	$266M	trimmed−4%	−0.04 pp	3 q
PINSPinterest, Inc. Class A	0.19%	7,800,244	$251M	trimmed−3%	−0.02 pp	20 q
ETNEaton Corporation, plc	0.19%	697,894	$261M	trimmed−4%	0.00 pp	12 q
DEDeere & Company	0.18%	542,683	$248M	trimmed−2%	−0.03 pp	23 q
ONON Semiconductor Corp	0.18%	5,064,602	$250M	trimmed−5%	−0.03 pp	3 q
TMOThermo Fisher Scientific, Inc.	0.18%	491,233	$238M	trimmed−3%	+0.03 pp	32 q
ADSKAutodesk Inc	0.17%	726,446	$231M	trimmed−2%	0.00 pp	12 q
CHWYChewy, Inc.	0.17%	5,517,323	$223M	trimmed−3%	−0.01 pp	26 q
HDBHDFC Bank Limited	0.17%	6,806,818	$233M	trimmed−1%	−0.03 pp	43 q
PENPenumbra, Inc.	0.17%	908,546	$230M	trimmed−1%	−0.01 pp	33 q
SNSharkNinja, Inc.	0.16%	2,041,075	$211M	trimmed−5%	0.00 pp	6 q
COINCoinbase Global, Inc. Class A	0.15%	587,422	$198M	new	+0.15 pp	new
BZKANZHUN LIMITED American Depository Shares	0.15%	8,564,702	$200M	added×2.7	+0.11 pp	3 q
FNFabrinet	0.15%	553,158	$202M	trimmed−6%	+0.02 pp	9 q
BROSDutch Bros Inc.	0.14%	3,497,067	$183M	trimmed−3%	−0.04 pp	5 q
ECLEcolab, Inc.	0.14%	711,667	$195M	trimmed−2%	−0.01 pp	35 q
EPAMEpam Systems, Inc.	0.14%	1,293,857	$195M	added+21%	0.00 pp	2 q
GOOGLAlphabet Inc. Class A	0.13%	715,205	$174M	trimmed−7%	+0.03 pp	41 q
AAPLApple Inc.	0.13%	710,870	$181M	trimmed−2%	+0.02 pp	50 q
BLDRBuilders FirstSource, Inc.	0.13%	1,469,801	$178M	trimmed−4%	0.00 pp	5 q
KNFKnife River Corporation	0.13%	2,198,771	$169M	new	+0.13 pp	new
NYTNew York Times Co.	0.13%	3,145,974	$181M	trimmed−2%	0.00 pp	11 q
DNLIDenali Therapeutics Inc.	0.12%	11,591,585	$168M	trimmed−3%	0.00 pp	32 q
ILMNIllumina Inc	0.12%	1,686,692	$160M	trimmed−3%	0.00 pp	50 q
LMNDLemonade, Inc.	0.12%	2,942,056	$157M	trimmed−5%	+0.02 pp	21 q
ADIAnalog Devices, Inc.	0.11%	580,842	$143M	added+2%	+0.01 pp	50 q
FIGFigma, Inc.	0.11%	2,973,627	$154M	new	+0.11 pp	new
IBNICICI Bank Limited	0.11%	4,884,527	$148M	trimmed−7%	−0.02 pp	50 q
MBLYMobileye Global Inc. Class A	0.11%	10,809,362	$153M	trimmed−20%	−0.07 pp	12 q
PONYPony AI Inc.	0.11%	6,460,363	$145M	trimmed−9%	+0.04 pp	2 q
PGProcter & Gamble Company	0.10%	919,290	$141M	trimmed−3%	−0.01 pp	42 q
RELYRemitly Global, Inc.	0.10%	7,868,348	$128M	trimmed−2%	−0.01 pp	12 q
MNDYmonday.com Ltd.	0.10%	708,278	$137M	added×2.4	+0.03 pp	7 q
CMECME Group Inc.	0.09%	457,422	$124M	trimmed−3%	−0.01 pp	5 q
FASTFastenal Co	0.09%	2,431,299	$119M	trimmed−12%	0.00 pp	49 q
FNDFloor & Decor Holdings, Inc.	0.09%	1,649,422	$122M	trimmed−2%	−0.01 pp	12 q
RXRXRecursion Pharmaceuticals, Inc. Class A	0.09%	23,978,695	$117M	trimmed−1%	0.00 pp	18 q
SVVSavers Value Village, Inc.	0.09%	9,308,210	$123M	trimmed−3%	+0.02 pp	6 q
BCBrunswick Corporation	0.08%	1,809,902	$114M	trimmed−4%	0.00 pp	7 q
LINELineage, Inc.	0.08%	2,954,241	$114M	trimmed−0%	−0.02 pp	5 q
WSCWillScot Holdings Corporation Class A	0.08%	4,856,872	$103M	trimmed−5%	−0.02 pp	3 q
ARMArm Holdings plc	0.07%	640,877	$91M	new	+0.07 pp	new
AXONAxon Enterprise, Inc.	0.07%	126,479	$91M	trimmed−1%	−0.01 pp	28 q
BBDBanco Bradesco S.A.	0.07%	27,974,111	$95M	trimmed−2%	0.00 pp	36 q
ENPHEnphase Energy, Inc.	0.07%	2,664,893	$94M	trimmed−70%	−0.20 pp	17 q
HTFLHeartflow, Inc.	0.07%	3,005,998	$101M	new	+0.07 pp	new
INTUIntuit Inc	0.07%	140,224	$96M	added+1%	−0.01 pp	16 q
PEPPepsiCo, Inc.	0.07%	662,564	$93M	trimmed−3%	0.00 pp	50 q
SGSweetgreen, Inc.	0.07%	11,060,194	$88M	trimmed−15%	−0.07 pp	13 q
TFIITFI International Inc.	0.07%	1,019,178	$90M	trimmed−3%	0.00 pp	4 q
AMSCAmerican Superconductor Corp	0.06%	1,427,332	$85M	trimmed−2%	+0.02 pp	21 q
COURCoursera, Inc.	0.06%	7,406,775	$87M	trimmed−2%	+0.01 pp	19 q
INSPInspire Medical Systems, Inc.	0.06%	1,084,350	$80M	trimmed−3%	−0.05 pp	20 q
VRTXVertex Pharmaceuticals Inc	0.06%	207,056	$81M	trimmed−3%	−0.01 pp	6 q
YETIYETI Holdings, Inc.	0.06%	2,614,918	$87M	trimmed−3%	0.00 pp	10 q
BABAAlibaba Group Holding Limited	0.05%	371,605	$66M	new	+0.05 pp	new
CSCOCisco Systems, Inc. (DE)	0.05%	1,026,106	$70M	trimmed−3%	0.00 pp	22 q
ITUBItau Unibanco Holding S.A.	0.05%	9,883,816	$73M	trimmed−3%	0.00 pp	50 q
MPMP Materials Corp.	0.05%	954,604	$64M	trimmed−28%	+0.02 pp	16 q
XMTRXometry, Inc. Class A	0.05%	1,285,250	$70M	trimmed−1%	+0.02 pp	4 q
ABCLAbCellera Biologics Inc.	0.04%	10,422,966	$52M	added+1%	+0.01 pp	19 q
KOCoca-Cola Company	0.04%	770,376	$51M	trimmed−2%	0.00 pp	47 q
JKHYHenry (Jack) & Associates	0.04%	336,485	$50M	trimmed−3%	−0.01 pp	2 q
HDHome Depot, Inc.	0.04%	129,266	$52M	trimmed−2%	0.00 pp	9 q
TROWT Rowe Price Group Inc	0.04%	494,107	$51M	trimmed−3%	0.00 pp	23 q
SBUXStarbucks Corp	0.04%	687,220	$58M	trimmed−4%	−0.01 pp	17 q
ZZillow Group, Inc. Class C	0.04%	663,588	$51M	trimmed−1%	0.00 pp	41 q
ACNAccenture PLC	0.04%	229,258	$57M	trimmed−2%	−0.01 pp	2 q
AEHRAehr Test Systems	0.03%	1,530,676	$46M	trimmed−23%	+0.01 pp	9 q
ALABAstera Labs, Inc.	0.03%	230,787	$45M	trimmed−1%	+0.01 pp	2 q
CGNXCognex Corp	0.03%	1,008,383	$46M	trimmed−14%	0.00 pp	12 q
EWEdwards Lifesciences Corp	0.03%	572,247	$45M	trimmed−2%	0.00 pp	28 q
EXKExact Sciences Corp	0.03%	763,356	$42M	trimmed−2%	0.00 pp	33 q
DNAGinkgo Bioworks Holdings, Inc.	0.03%	3,235,254	$47M	trimmed−1%	0.00 pp	17 q
INFYInfosys Limited	0.03%	2,744,194	$45M	trimmed−4%	−0.01 pp	47 q
LULufax Holding Ltd.	0.03%	8,407,296	$34M	trimmed−9%	+0.01 pp	8 q
MCDMcDonald's Corporation	0.03%	130,534	$40M	trimmed−4%	0.00 pp	50 q
PAYXPaychex Inc	0.03%	308,805	$39M	trimmed−3%	0.00 pp	4 q
PBR.APetroleo Brasileiro S.A.-Petrobras	0.03%	3,773,815	$45M	trimmed−42%	−0.03 pp	30 q
SANASana Biotechnology, Inc.	0.03%	11,436,503	$41M	added+14%	+0.01 pp	19 q
TWSTTwist Bioscience Corporation	0.03%	1,262,739	$36M	added+63%	+0.01 pp	13 q
DLODLocal Limited Class A	0.03%	2,670,123	$38M	trimmed−1%	+0.01 pp	18 q
MDTMedtronic plc	0.03%	478,214	$46M	trimmed−3%	0.00 pp	20 q
CYBRCyberark Software LTD/ISRAEL	0.03%	73,731	$36M	trimmed−37%	−0.01 pp	23 q
FROGJFrog Ltd.	0.03%	973,324	$46M	trimmed−0%	0.00 pp	19 q
ALBAlbemarle Corporation	0.02%	360,629	$29M	trimmed−8%	0.00 pp	35 q
AMPLAmplitude, Inc. Class A	0.02%	2,681,896	$29M	added+36%	0.00 pp	3 q
APPNAppian Corporation Class A	0.02%	993,974	$30M	trimmed−1%	0.00 pp	27 q
BCHBanco de Chile	0.02%	936,039	$28M	trimmed−74%	−0.06 pp	6 q
CPCanadian Pacific Kansas City Limited	0.02%	448,984	$33M	trimmed−60%	−0.05 pp	10 q
CRCLCircle Internet Group, Inc.	0.02%	185,874	$25M	trimmed−2%	−0.01 pp	2 q
IPGPIPG Photonics Corporation	0.02%	407,272	$32M	trimmed−1%	0.00 pp	50 q
RAMPLiveRamp Holdings, Inc.	0.02%	1,026,630	$28M	trimmed−1%	−0.01 pp	24 q
MKTXMarketAxess Holdings Inc.	0.02%	164,198	$29M	trimmed−12%	−0.01 pp	50 q
MNSTMonster Beverage Corporation	0.02%	328,793	$22M	added+23%	+0.01 pp	5 q
PRCTPROCEPT BioRobotics Corporation	0.02%	858,831	$31M	trimmed−2%	−0.02 pp	3 q
PGNYProgyny, Inc.	0.02%	1,257,202	$27M	trimmed−1%	0.00 pp	20 q
QSQuantumScape Corporation Class A	0.02%	1,708,129	$21M	trimmed−9%	+0.01 pp	20 q
SKYTSkyWater Technology	0.02%	1,627,329	$30M	held	—	8 q
TMDXTransMedics Group, Inc.	0.02%	260,719	$29M	trimmed−1%	−0.01 pp	19 q
UPWKUpwork Inc.	0.02%	1,178,263	$22M	trimmed−33%	0.00 pp	26 q
VECOVeeco Instruments Inc	0.02%	744,218	$23M	trimmed−1%	+0.01 pp	40 q
IRENIREN Limited	0.02%	562,993	$26M	new	+0.02 pp	new
ADBEAdobe Inc.	0.01%	50,514	$18M	new	+0.01 pp	new
AMTAmerican Tower Corporation	0.01%	65,268	$13M	trimmed−4%	0.00 pp	17 q
BEAMBeam Therapeutics Inc.	0.01%	297,803	$7M	trimmed−1%	+0.01 pp	20 q
BKNGBooking Holdings Inc.	0.01%	3,058	$17M	trimmed−31%	−0.01 pp	22 q
BEPCBrookfield Renewable Corporation Class A Exchangeable Subordinate Voting Shares	0.01%	530,811	$18M	trimmed−3%	0.00 pp	4 q
CDNSCadence Design Systems	0.01%	36,152	$13M	trimmed−11%	0.00 pp	3 q
CSLCarlisle Companies, Inc.	0.01%	28,268	$9M	trimmed−10%	0.00 pp	7 q
CNPCenterPoint Energy, Inc.	0.01%	380,327	$15M	added×6.5	+0.01 pp	7 q
CHYMChime Financial, Inc. Class A	0.01%	678,717	$14M	held	—	2 q
CFLTConfluent, Inc. Class A	0.01%	950,803	$19M	trimmed−1%	−0.01 pp	7 q
CRWDCrowdStrike Holdings, Inc. Class A	0.01%	27,845	$14M	trimmed−1%	0.00 pp	5 q
EOGEOG Resources, Inc.	0.01%	144,033	$16M	added+13%	0.00 pp	10 q
EQTEqt Corp	0.01%	275,623	$15M	new	+0.01 pp	new
EICEagle Point Income Company	0.01%	553,305	$7M	held	—	3 q
VMRKVivmark Residential	0.01%	115,181	$7M	added×6.7	+0.01 pp	10 q
ESEversource Energy	0.01%	222,561	$16M	added+12%	0.00 pp	39 q
EXCExelon Corporation	0.01%	366,170	$16M	added×4.3	+0.01 pp	38 q
FTSFortis Inc.	0.01%	315,468	$16M	added+42%	0.00 pp	22 q
GGGGraco Inc	0.01%	115,382	$10M	added+10%	0.00 pp	8 q
BEKEKE Holdings Inc.	0.01%	380,754	$7M	trimmed−10%	0.00 pp	21 q
KTOSKratos Defense & Security Solutions, Inc.	0.01%	208,466	$19M	new	+0.01 pp	new
MSAMine Safety Incorporated	0.01%	82,982	$14M	trimmed−11%	0.00 pp	8 q
MRSHMarsh	0.01%	82,361	$17M	trimmed−11%	−0.01 pp	5 q
MSIMotorola Solutions, Inc. New	0.01%	38,760	$18M	new	+0.01 pp	new
NEENextEra Energy, Inc.	0.01%	257,658	$19M	added×8.1	+0.01 pp	22 q
NKENike, Inc.	0.01%	127,645	$9M	trimmed−1%	0.00 pp	20 q
PYPLPayPal Holdings, Inc.	0.01%	124,521	$8M	trimmed−1%	0.00 pp	9 q
PGRProgressive Corporation	0.01%	54,606	$13M	trimmed−1%	0.00 pp	14 q
SDGRSchrodinger, Inc.	0.01%	974,795	$20M	trimmed−1%	0.00 pp	20 q
SOThe Southern Company	0.01%	152,730	$14M	added×7.0	+0.01 pp	7 q
SNPSSynopsys Inc	0.01%	26,620	$13M	added+21%	0.00 pp	3 q
TJXTJX Companies, Inc. (The)	0.01%	100,957	$15M	trimmed−1%	0.00 pp	50 q
TNDMTandem Diabetes Care, Inc.	0.01%	1,120,595	$14M	trimmed−0%	−0.01 pp	29 q
TTEKTetra Tech Inc	0.01%	523,150	$17M	trimmed−11%	−0.01 pp	3 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.01%	48,645	$17M	trimmed−93%	−0.15 pp	17 q
UTIUniversal Technical Institute, Inc.	0.01%	580,673	$19M	new	+0.01 pp	new
WECWEC Energy Group, Inc.	0.01%	131,363	$15M	added+53%	0.00 pp	38 q
WABWabtec Inc.	0.01%	90,437	$18M	trimmed−11%	−0.01 pp	11 q
WRBYWarby Parker Inc.	0.01%	456,791	$13M	trimmed−75%	−0.02 pp	17 q
BURBurford Capital Limited	0.01%	698,640	$8M	trimmed−11%	0.00 pp	18 q
NVCRNovoCure Limited	0.01%	1,124,031	$15M	trimmed−0%	−0.01 pp	32 q
KRNTKornit Digital Ltd.	0.01%	967,951	$13M	trimmed−0%	0.00 pp	2 q
Albemarle Corpconvertible	0.00%	120,000	$5M	held	—	7 q
BUDAnheuser-Busch INBEV SA/NV	0.00%	119	$7,094	added+5%	0.00 pp	8 q
BIDUBaidu, Inc.	0.00%	33	$4,348	new	0.00 pp	new
ONCBeOne Medicines Ltd.	0.00%	8	$2,726	new	0.00 pp	new
BSYBentley Systems, Incorporated Class B	0.00%	545	$28,057	new	0.00 pp	new
BSLKBolt Projects Hldgs Inc	0.00%	123,290	$466,036	held	—	2 q
Cable One Incconvertible	0.00%	7,373,000	$6M	added+51%	0.00 pp	2 q
EDConsolidated Edison, Inc.	0.00%	19,093	$2M	held	—	38 q
DLRDigital Realty Trust, Inc.	0.00%	6,474	$1M	held	—	16 q
DCBODocebo Inc.	0.00%	13,359	$364,555	held	—	19 q
EIXEdison International	0.00%	18,900	$1M	held	—	4 q
FRPTFreshpet, Inc.	0.00%	23,601	$1M	added+81%	0.00 pp	18 q
DOCHealthpeak Properties, Inc.	0.00%	51,493	$986,091	held	—	7 q
HUBBHubbell Incorporated	0.00%	43	$18,503	held	—	3 q
DMXFiShares ESG Advanced MSCI EAFE ETF	0.00%	35,400	$3M	new	0.00 pp	new
LILi Auto Inc.	0.00%	101	$2,559	trimmed−10%	0.00 pp	8 q
NXTNextpower Inc.	0.00%	238	$17,610	new	0.00 pp	new
NVONovo-Nordisk A/S	0.00%	314	$17,424	added×2.4	0.00 pp	7 q
PMPhilip Morris International Inc.	0.00%	19,296	$3M	added+21%	0.00 pp	5 q
PLDPrologis, Inc.	0.00%	52,250	$6M	trimmed−2%	0.00 pp	19 q
RIORio Tinto plc	0.00%	347	$22,905	added+74%	0.00 pp	14 q
RXSTRxSight, Inc.	0.00%	686,316	$6M	added+46%	0.00 pp	7 q
QXOQXO, Inc.	0.00%	90,859	$2M	new	0.00 pp	new
STNStantec, Inc.	0.00%	413	$44,550	added+2%	0.00 pp	5 q
SUISun Communities, Inc	0.00%	48,210	$6M	added+27%	0.00 pp	8 q
TERTeradyne, Inc.	0.00%	312	$42,944	held	—	50 q
TTENTotalenergies SE -spon ADR	0.00%	138	$8,237	added+8%	0.00 pp	4 q
unresolvedUnilever Spn.Adr 1:1	0.00%	456	$27,032	added+36%	0.00 pp	7 q
URIUnited Rentals, Inc.	0.00%	22	$21,003	held	—	3 q
VEEVVeeva Systems Inc.	0.00%	42	$12,512	held	—	20 q
ZGZillow Group Inc Class A	0.00%	89,729	$7M	trimmed−2%	0.00 pp	43 q
TBBBBBB Foods Inc.	0.00%	194,851	$5M	added×2.2	0.00 pp	2 q
CRHCRH Public Limited Company	0.00%	469	$56,233	added+97%	0.00 pp	9 q
WNSWns Holdings Ltd	0.00%	26	$1,983	new	0.00 pp	new
UBSUBS Group AG	0.00%	172	$7,052	held	—	2 q
AERAercap Holdings N.V.	0.00%	16,092	$2M	trimmed−4%	0.00 pp	2 q
YMMFull Truck Alliance Co. Ltd.	—	−14,486,413	—	exited	−0.13 pp	—
ENTGEntegris Inc	—	−2,058,007	—	exited	−0.12 pp	—
TRUPTrupanion, Inc.	—	−599,110	—	exited	−0.02 pp	—
BLBlackLine, Inc.	—	−193,739	—	exited	−0.01 pp	—
KMXCarMax Inc.	—	−126,439	—	exited	−0.01 pp	—
HSYThe Hershey Company	—	−101,388	—	exited	−0.01 pp	—
OSCROscar Health, Inc.	—	−822,088	—	exited	−0.01 pp	—
SPTSprout Social, Inc Class A	—	−526,655	—	exited	−0.01 pp	—
AMBAAmbarella, Inc.	—	−259,380	—	exited	−0.01 pp	—
ABNBAirbnb, Inc. Class A	—	−30,762	—	exited	0.00 pp	—
CDXSCodexis, Inc.	—	−1,685,664	—	exited	0.00 pp	—
96669EURDmrc LLC	—	−474,190	—	exited	0.00 pp	—
FCNFTI Consulting, Inc.	—	−6,735	—	exited	0.00 pp	—
GMABGenmab A/S	—	−12	—	exited	0.00 pp	—
MDBMongoDB, Inc. Class A	—	−17,871	—	exited	0.00 pp	—
QTRXQuanterix Corporation	—	−600,812	—	exited	0.00 pp	—
XYLXylem Inc	—	−1,826	—	exited	0.00 pp	—
NYAXNayax Ltd.	—	−8,235	—	exited	0.00 pp	—