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BAILLIE GIFFORD & CO

CALTON SQUARE 1 GREENSIDE ROW, EDINBURGH, X0 EH13AN • 00441312752000

Q4 2025 · Filed 2026-01-23
Market Value
$119.5B
-10.9%
Holdings
277
+3
New Purchases
20
Added To
68
Closed
20
Reduced
155
Top 10 Concentration
43.7%
Turnover
14.4%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AXON 0.78% 0.07% +0.71% $933M
RKLB 1.04% 0.43% +0.61% $1.2B
NU 3.60% 3.00% +0.60% $4.3B
AMZN 5.67% 5.18% +0.49% $6.8B
GOOG 0.98% 0.53% +0.46% $1.2B
GOOGL 0.50% 0.13% +0.37% $597M
NVDA 6.84% 6.48% +0.37% $8.2B
MDLN 0.37% 0.00% +0.37% $437M
ISRG 1.21% 0.87% +0.34% $1.4B
ENSG 0.67% 0.36% +0.30% $796M
SHOP 4.20% 3.93% +0.28% $5.0B
IOT 1.41% 1.15% +0.26% $1.7B
QXO 0.24% 0.00% +0.24% $284M
RIVN 0.72% 0.49% +0.23% $863M
CSGP 0.73% 0.52% +0.21% $870M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
SE 4.14% 5.34% -1.21% $4.9B
RBLX 1.46% 2.41% -0.95% $1.7B
DDOG 0.45% 1.21% -0.76% $539M
CPNG 2.88% 3.61% -0.73% $3.4B
NET 2.77% 3.50% -0.72% $3.3B
BNTX 0.10% 0.58% -0.48% $119M
SPOT 4.05% 4.52% -0.48% $4.8B
META 2.43% 2.90% -0.47% $2.9B
NFLX 2.90% 3.26% -0.36% $3.5B
TTD 0.71% 1.06% -0.36% $847M
ELF 0.46% 0.73% -0.27% $546M
AZO 0.24% 0.46% -0.22% $292M
RACE 1.22% 1.42% -0.20% $1.5B
PDD 2.94% 3.13% -0.19% $3.5B
PINS 0.00% 0.19% -0.19% $0

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Technology 28.7%
Consumer Cyclical 26.0%
Communication Services 12.7%
Healthcare 10.4%
Financial Services 8.2%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 23 $28.9B 24.2%
Large Cap 163 $81.1B 67.8%
Mid Cap 63 $8.8B 7.4%
Small Cap 25 $699M 0.6%
Micro Cap 3 $7M 0.0%

Portfolio Analytics

Avg Market Cap
$159.9B
Median Market Cap
$22.8B
Avg P/E
39.8
Median P/E
26.1
Avg Dividend Yield
0.01%
Avg Beta
1.18
# Stocks
276
# ETFs / Funds
1

Top Holdings (277 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 NVDA 6.84% 43,867,705 $8.2B $186.50 -$504M -2,681,591 -5.8%
2 MELI 5.87% 3,481,563 $7.0B $2,014.26 -$740M +164,120 +5.0%
3 AMZN 5.67% 29,387,070 $6.8B $230.82 -$168M -2,272,044 -7.2%
4 SHOP 4.20% 31,206,232 $5.0B $160.97 -$244M -4,237,555 -12.0%
5 SE 4.14% 38,758,791 $4.9B $127.57 -$2.2B -1,331,499 -3.3%
6 SPOT 4.05% 8,331,104 $4.8B $580.71 -$1.2B -364,244 -4.2%
7 NU 3.60% 257,256,952 $4.3B $16.74 $281M +5,797,365 +2.3%
8 APP 3.48% 6,166,349 $4.2B $673.82 -$333M -79,611 -1.3%
9 PDD 2.94% 31,032,323 $3.5B $113.39 -$684M -766,680 -2.4%
10 NFLX 2.90% 36,940,035 $3.5B $93.76 -$911M +33,290,988 +912.3%
11 CPNG 2.88% 146,122,094 $3.4B $23.59 -$1.4B -4,260,613 -2.8%
12 NET 2.77% 16,823,947 $3.3B $197.15 -$1.4B -5,024,793 -23.0%
13 META 2.43% 4,399,233 $2.9B $660.09 -$981M -890,995 -16.8%
14 MSFT 2.24% 5,544,839 $2.7B $483.62 -$354M -316,000 -5.4%
15 DASH 1.51% 7,970,062 $1.8B $226.48 -$444M -298,706 -3.6%
16 RBLX 1.46% 21,543,528 $1.7B $81.03 -$1.5B -1,753,075 -7.5%
17 IOT 1.41% 47,660,513 $1.7B $35.45 $145M +6,208,553 +15.0%
18 RACE 1.22% 3,890,014 $1.5B $374.30 -$450M -51,816 -1.3%
19 ISRG 1.21% 2,551,357 $1.4B $566.36 $281M -51,241 -2.0%
20 RDDT 1.15% 5,980,918 $1.4B $229.87 -$30M -126,267 -2.1%
21 TEAM 1.14% 8,431,802 $1.4B $162.14 $71M +316,276 +3.9%
22 RKLB 1.04% 17,851,446 $1.2B $69.76 $664M +5,725,536 +47.2%
23 GOOG 0.98% 3,750,936 $1.2B $313.80 $469M +843,988 +29.0%
24 ALNY 0.87% 2,600,979 $1.0B $397.65 -$238M -188,377 -6.8%
25 DXCM 0.86% 15,552,587 $1.0B $66.37 -$36M -329,581 -2.1%
26 AXON 0.78% 1,642,578 $933M $567.93 $842M +1,516,099 +1198.7%
27 CSGP 0.73% 12,933,185 $870M $67.24 $174M +4,691,543 +56.9%
28 RIVN 0.72% 43,781,355 $863M $19.71 $203M -1,156,088 -2.6%
29 DUOL 0.71% 4,861,445 $853M $175.50 -$57M +2,033,611 +71.9%
30 TTD 0.71% 22,305,995 $847M $37.96 -$580M -6,809,124 -23.4%
31 MA 0.70% 1,464,206 $836M $570.88 -$51M -95,526 -6.1%
32 RYAAY 0.69% 11,343,819 $819M $72.19 $7M -2,141,748 -15.9%
33 ENSG 0.67% 4,569,254 $796M $174.20 $309M +1,750,645 +62.1%
34 SYM 0.62% 12,441,000 $740M $59.50 $57M -242,739 -1.9%
35 MLM 0.60% 1,159,375 $722M $622.66 -$32M -36,419 -3.0%
36 SCI 0.60% 9,161,409 $714M $77.97 -$92M -527,858 -5.5%
37 ANTM 0.58% 1,977,899 $693M $350.55 -$7M -189,015 -8.7%
38 RPRX 0.55% 17,008,768 $657M $38.64 $44M -363,734 -2.1%
39 JOBY 0.55% 49,570,755 $654M $13.20 -$159M -850,198 -1.7%
40 SQ 0.54% 9,875,845 $643M $65.09 -$200M -1,779,458 -15.3%
41 MRNA 0.51% 20,580,514 $607M $29.49 $43M -1,266,152 -5.8%
42 TSLA 0.51% 1,342,801 $604M $449.72 -$133M -314,686 -19.0%
43 SNOW 0.50% 2,735,752 $600M $219.36 -$30M -59,804 -2.1%
44 GOOGL 0.50% 1,907,296 $597M $313.00 $423M +1,192,091 +166.7%
45 PODD 0.49% 2,048,369 $582M $284.24 -$64M -43,329 -2.1%
46 ELF 0.46% 7,177,659 $546M $76.04 -$428M -172,019 -2.3%
47 DDOG 0.45% 3,961,509 $539M $135.99 -$1.1B -7,451,970 -65.3%
48 TEM 0.43% 8,741,442 $516M $59.05 -$266M -950,999 -9.8%
49 GH 0.42% 4,890,026 $499M $102.14 $179M -237,666 -4.6%
50 MSCI 0.41% 846,844 $486M $573.73 $93M +155,290 +22.5%
51 TMO 0.37% 770,868 $447M $579.45 $208M +279,635 +56.9%
52 DG 0.37% 3,316,155 $440M $132.77 $105M +68,723 +2.1%
53 MDLN 0.37% 10,410,371 $437M $42.00 +10,410,371 NEW
54 CBRE 0.36% 2,687,007 $432M $160.79 -$14M -144,166 -5.1%
55 SQM 0.36% 6,233,717 $429M $68.80 $48M -2,628,165 -29.7%
56 MMYT 0.35% 5,155,036 $423M $82.12 -$48M +114,975 +2.3%
57 BAP 0.34% 1,432,893 $411M $287.00 -$10M -149,852 -9.5%
58 AFRM 0.34% 5,482,943 $408M $74.43 -$23M -412,419 -7.0%
59 TSM 0.34% 1,336,491 $406M $303.89 -$31M -227,569 -14.6%
60 MKL 0.34% 188,437 $405M $2,149.65 $29M -8,449 -4.3%
61 W 0.34% 4,002,104 $402M $100.41 $31M -147,107 -3.5%
62 SPGI 0.32% 724,613 $379M $522.59 $9M -35,627 -4.7%
63 TXN 0.32% 2,177,897 $378M $173.49 -$42M -105,905 -4.6%
64 KSPI 0.31% 4,673,083 $365M $78.13 -$26M -112,902 -2.4%
65 FMX 0.30% 3,496,366 $353M $101.07 -$17M -256,379 -6.8%
66 MCO 0.29% 687,046 $351M $510.85 -$970K -51,594 -7.0%
67 PBR 0.29% 29,523,522 $350M $11.85 -$56M -2,564,171 -8.0%
68 CPA 0.28% 2,747,078 $331M $120.61 $3M -18,218 -0.7%
69 WMS 0.27% 2,244,014 $325M $144.83 -$7M -151,057 -6.3%
70 UBER 0.27% 3,961,818 $324M $81.71 -$86M -217,413 -5.2%
71 BN 0.27% 7,013,657 $322M $45.89 -$9M +2,191,270 +45.4%
72 WDAY 0.26% 1,464,991 $315M $214.78 -$53M -63,955 -4.2%
73 WSO 0.26% 917,492 $309M $336.95 -$73M -26,594 -2.8%
74 MEDP 0.26% 547,078 $307M $561.65 $7M -37,718 -6.5%
75 WIX 0.25% 2,854,611 $297M $103.89 -$217M -37,534 -1.3%
76 AZO 0.24% 86,142 $292M $3,391.50 -$325M -57,789 -40.1%
77 AUR 0.24% 74,584,590 $286M $3.84 -$121M -969,424 -1.3%
78 AVAV 0.24% 1,179,811 $285M $241.89 -$276M -603,868 -33.9%
79 QXO 0.24% 14,735,164 $284M $19.29 $283M +14,644,305 +16117.6%
80 CRM 0.24% 1,062,815 $282M $264.91 $16M -57,548 -5.1%
81 PEN 0.23% 876,325 $272M $310.91 $42M -32,221 -3.5%
82 PAYC 0.22% 1,638,894 $261M $159.36 -$94M -69,768 -4.1%
83 DKNG 0.21% 7,454,948 $257M $34.46 -$31M -232,893 -3.0%
84 FIX 0.21% 274,742 $256M $933.29 -$84M -138,042 -33.4%
85 ON 0.21% 4,725,516 $256M $54.15 $6M -339,086 -6.7%
86 EPAM 0.20% 1,193,056 $244M $204.88 $49M -100,801 -7.8%
87 DE 0.20% 524,786 $244M $465.57 -$4M -17,897 -3.3%
88 GRAB 0.19% 46,212,934 $231M $4.99 -$56M -1,412,546 -3.0%
89 TME 0.19% 13,042,381 $229M $17.53 -$75M +35,182 +0.3%
90 AJG 0.19% 865,260 $224M $258.79 -$58M -43,625 -4.8%
91 SN 0.19% 1,988,633 $223M $111.90 $12M -52,442 -2.6%
92 FIG 0.18% 5,763,613 $215M $37.37 $61M +2,789,986 +93.8%
93 ETN 0.18% 673,840 $215M $318.51 -$47M -24,054 -3.5%
94 ILMN 0.18% 1,626,776 $213M $131.16 $53M -59,916 -3.5%
95 FN 0.18% 464,564 $212M $455.28 $10M -88,594 -16.0%
96 NYT 0.18% 3,025,119 $210M $69.42 $29M -120,855 -3.8%
97 HDB 0.18% 5,746,819 $210M $36.54 -$23M -1,059,999 -15.6%
98 ADSK 0.17% 706,289 $209M $296.01 -$22M -20,157 -2.8%
99 LMND 0.17% 2,866,446 $204M $71.18 $47M -75,610 -2.6%
100 DNLI 0.17% 12,310,889 $203M $16.51 $35M +719,304 +6.2%

New Positions

SymbolValue% Port
MDLN $437M 0.37%
UTHR $157M 0.13%
MDB $112M 0.09%
BLLN $104M 0.09%
SVM $35M 0.03%
UPST $33M 0.03%
ZTS $19M 0.02%
PI $18M 0.01%
RVMD $16M 0.01%
ODFL $13M 0.01%
BRO $13M 0.01%
EH $10M 0.01%
STOK $8M 0.01%
ATAT $7M 0.01%
SONY $40K —%

Sold Out Positions

SymbolValue% Port
BLDR —%
PINS —%
INSP —%
GGG —%
EIC —%
UBS —%
TJX —%
UL —%
URI —%
BUD —%
TTE —%
CHWY —%
DCBO —%
DMXF —%
VECO —%
View SEC EDGAR Filings for BAILLIE GIFFORD & CO →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms