Baillie Gifford & Co.

Name: BAILLIE GIFFORD & CO 13F holdings, Q4 2025
Creator: BAILLIE GIFFORD & CO
Published: 2026-01-23

Q2 2026Q1 2026Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 23, 2026), Baillie Gifford & Co. reported 265 stock positions worth $120.3 billion. Its top holding was Nvidia (NVDA) at 6.8% of the portfolio, followed by MercadoLibre (MELI, 5.8%) and Amazon.com (AMZN, 5.6%). Compared with Q3 2025, it opened 20 new positions, sold out of 20, added to 70 and reduced 159. The biggest buy was Axon Enterprise (AXON, shares +1199%) and the biggest sale Sea Ltd.-ADR (SE, shares −3%).

Most Recent 13F: Q2 2026
Location: EDINBURGH, X0
CIK: 0001088875
Portfolio Value: $120.3B (Q4 2025)
SEC Filing: 0001088875-26-000002 ↗ filed Jan 23, 2026

Holdings Value

Holdings 265 stocks · $120.3B


NVDA Nvidia Corp.	6.80%	43,867,705	$8.2B	Reduce -5.8%
MELI MercadoLibre Inc.	5.83%	3,481,563	$7.0B	Add +5.0%
AMZN Amazon.com Inc.	5.64%	29,387,070	$6.8B	Reduce -7.2%
SHOP Shopify Inc. Class A	4.17%	31,206,232	$5.0B	Reduce -12.0%
SE Sea Ltd.-ADR	4.11%	38,758,791	$4.9B	Reduce -3.3%
SPOT Spotify Technology SA	4.02%	8,331,104	$4.8B	Reduce -4.2%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD	3.58%	257,256,952	$4.3B	Add +2.3%
APP AppLovin Corp. Class A	3.45%	6,166,349	$4.2B	Reduce -1.3%
PDD PDD Holdings Inc.	2.92%	31,032,323	$3.5B	Reduce -2.4%
NFLX Netflix Inc.	2.88%	36,940,035	$3.5B	Add +1.2%
CPNG Coupang Inc.	2.86%	146,122,094	$3.4B	Reduce -2.8%
NET Cloudflare Inc. Class A	2.76%	16,823,947	$3.3B	Reduce -23.0%
META Meta Platforms Inc. Class A	2.41%	4,399,233	$2.9B	Reduce -16.8%
MSFT Microsoft Corp.	2.23%	5,544,839	$2.7B	Reduce -5.4%
DASH DoorDash Inc. Class A	1.50%	7,970,062	$1.8B	Reduce -3.6%
RBLX Roblox Corp. Class A	1.45%	21,543,528	$1.7B	Reduce -7.5%
IOT Samsara Inc. Class A	1.40%	47,660,513	$1.7B	Add +15.0%
RACE Ferrari NV	1.21%	3,890,014	$1.5B	Reduce -1.3%
ISRG Intuitive Surgical Inc.	1.20%	2,551,357	$1.4B	Reduce -2.0%
RDDT Reddit Inc. Class A	1.14%	5,980,918	$1.4B	Reduce -2.1%
TEAM Atlassian Corp. Class A	1.14%	8,431,802	$1.4B	Add +3.9%
RKLB Rocket Lab Corp.	1.03%	17,851,446	$1.2B	Add +47.2%
GOOG Alphabet Inc. Class C	0.98%	3,750,936	$1.2B	Add +29.0%
ALNY Alnylam Pharmaceuticals Inc.	0.86%	2,600,979	$1.0B	Reduce -6.8%
DXCM Dexcom Inc.	0.86%	15,552,587	$1.0B	Reduce -2.1%
AXON Axon Enterprise Inc.	0.78%	1,642,578	$932.9M	Add +1198.7%
CSGP Costar Group Inc.	0.72%	12,933,185	$869.6M	Add +56.9%
RIVN Rivian Automotive Inc. Class A	0.72%	43,781,355	$862.9M	Reduce -2.6%
DUOL Duolingo	0.71%	4,861,445	$853.2M	Add +71.9%
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC	0.70%	22,305,995	$846.7M	Reduce -23.4%
MA Mastercard Inc. Class A	0.69%	1,464,206	$835.9M	Reduce -6.1%
RYAAY Ryanair Holdings PLC-SP ADR	0.68%	11,343,819	$818.9M	Reduce -15.9%
ENSG The Ensign Group Inc.	0.66%	4,569,254	$796.0M	Add +62.1%
SYM Symbotic Inc.	0.62%	12,441,000	$740.2M	Reduce -1.9%
MLM Martin Marietta Materials	0.60%	1,159,375	$721.9M	Reduce -3.0%
SCI Service Corp. International	0.59%	9,161,409	$714.3M	Reduce -5.5%
ELV Elevance Health Inc.	0.58%	1,977,899	$693.4M	Reduce -8.7%
RPRX Royalty Pharma PLC Class A	0.55%	17,008,768	$657.2M	Reduce -2.1%
JOBY Joby Aviation Inc.	0.54%	49,570,755	$654.3M	Reduce -1.7%
XYZ Block Inc.	0.53%	9,875,845	$642.8M	Reduce -15.3%
MRNA Moderna Inc.	0.50%	20,580,514	$606.9M	Reduce -5.8%
TSLA Tesla Inc.	0.50%	1,342,801	$603.9M	Reduce -19.0%
SNOW Snowflake Inc.	0.50%	2,735,752	$600.1M	Reduce -2.1%
GOOGL Alphabet Inc. Class A	0.50%	1,907,296	$597.0M	Add +166.7%
PODD Insulet Corp.	0.48%	2,048,369	$582.2M	Reduce -2.1%
ELF Elf Beauty Inc.	0.45%	7,177,659	$545.8M	Reduce -2.3%
DDOG Datadog Inc. Class A	0.45%	3,961,509	$538.7M	Reduce -65.3%
TEM Tempus AI Inc. Class A	0.43%	8,741,442	$516.2M	Reduce -9.8%
GH Guardant Health Inc.	0.42%	4,890,026	$499.5M	Reduce -4.6%
MSCI MSCI Inc.	0.40%	846,844	$485.9M	Add +22.5%
FTAI Ftai Aviation Ltd.	0.37%	2,286,363	$450.1M	Reduce -5.8%
TMO Thermo Fisher Scientific Inc.	0.37%	770,868	$446.7M	Add +56.9%
DG Dollar General Corp.	0.37%	3,316,155	$440.3M	Add +2.1%
MDLN Medline Inc. Class A	0.36%	10,410,371	$437.2M	New
CBRE CBRE Group Inc. Class A	0.36%	2,687,007	$432.0M	Reduce -5.1%
SQM Quimica Y Minera Chil-SP ADR filed as SOCIEDAD QUIMICA Y MINERA DE	0.36%	6,233,717	$428.9M	Reduce -29.7%
MMYT Makemytrip Ltd.	0.35%	5,155,036	$423.3M	Add +2.3%
BAP Credicorp Ltd.	0.34%	1,432,893	$411.2M	Reduce -9.5%
AFRM Affirm Holdings Inc.	0.34%	5,482,943	$408.1M	Reduce -7.0%
TSM Taiwan Semiconductor-SP ADR	0.34%	1,336,491	$406.1M	Reduce -14.6%
MKL Markel Group Inc.	0.34%	188,437	$405.1M	Reduce -4.3%
W Wayfair Inc. Class A	0.33%	4,002,104	$401.9M	Reduce -3.5%
SPGI S&P Global Inc.	0.31%	724,613	$378.7M	Reduce -4.7%
TXN Texas Instruments Inc.	0.31%	2,177,897	$377.8M	Reduce -4.6%
KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC	0.30%	4,673,083	$365.1M	Reduce -2.4%
FMX Fomento Economico Mex-SP ADR	0.29%	3,496,366	$353.4M	Reduce -6.8%
MCO Moody's Corp.	0.29%	687,046	$351.0M	Reduce -7.0%
PBR Petroleo Brasileiro-Spon ADR	0.29%	29,523,522	$349.9M	Reduce -8.0%
CPA Copa Holdings SA Class A	0.28%	2,747,078	$331.3M	Reduce -0.7%
WMS Advanced Drainage Systems Inc.	0.27%	2,244,014	$325.0M	Reduce -6.3%
UBER Uber Technologies Inc.	0.27%	3,961,818	$323.7M	Reduce -5.2%
BN Brookfield Corp.	0.27%	7,013,657	$321.9M	Reduce -3.0%
WDAY Workday Inc. Class A	0.26%	1,464,991	$314.7M	Reduce -4.2%
WSO Watsco Inc.	0.26%	917,492	$309.1M	Reduce -2.8%
MEDP Medpace Holdings Inc.	0.26%	547,078	$307.3M	Reduce -6.5%
WIX Wix.com Ltd.	0.25%	2,854,611	$296.6M	Reduce -1.3%
AZO AutoZone Inc.	0.24%	86,142	$292.2M	Reduce -40.1%
AUR Aurora Innovation Inc.	0.24%	74,584,590	$286.4M	Reduce -1.3%
ODD Oddity Tech Ltd. Class A	0.24%	7,122,641	$286.2M	Add +17.8%
AVAV Aerovironment Inc.	0.24%	1,179,811	$285.4M	Reduce -33.9%
QXO Qxo Inc.	0.24%	14,735,164	$284.2M	Add +16117.6%
CRM Salesforce Inc.	0.23%	1,062,815	$281.6M	Reduce -5.1%
PEN Penumbra Inc.	0.23%	876,325	$272.5M	Reduce -3.5%
PAYC Paycom Software Inc.	0.22%	1,638,894	$261.2M	Reduce -4.1%
DKNG Draftkings Inc. Class A	0.21%	7,454,948	$256.9M	Reduce -3.0%
FIX Comfort Systems USA Inc.	0.21%	274,742	$256.4M	Reduce -33.4%
ON On Semiconductor	0.21%	4,725,516	$255.9M	Reduce -6.7%
EPAM Epam Systems Inc.	0.20%	1,193,056	$244.4M	Reduce -7.8%
DE Deere & Co.	0.20%	524,786	$244.3M	Reduce -3.3%
GRAB Grab Holdings Ltd. Class A	0.19%	46,212,934	$230.6M	Reduce -3.0%
TME Tencent Music Entertainm-ADR	0.19%	13,042,381	$228.6M	Add +0.3%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO	0.19%	865,260	$223.9M	Reduce -4.8%
SN Sharkninja Inc.	0.18%	1,988,633	$222.5M	Reduce -2.6%
FIG Figma Inc. Class A	0.18%	5,763,613	$215.4M	Add +93.8%
ETN Eaton Corp. PLC	0.18%	673,840	$214.6M	Reduce -3.5%
ILMN Illumina Inc.	0.18%	1,626,776	$213.4M	Reduce -3.5%
FN Fabrinet	0.18%	464,564	$211.5M	Reduce -16.0%
NYT New York Times Co. Class A	0.17%	3,025,119	$210.0M	Reduce -3.8%
HDB HDFC Bank Ltd.-ADR	0.17%	5,746,819	$210.0M	Reduce -15.6%
ADSK Autodesk Inc.	0.17%	706,289	$209.1M	Reduce -2.8%
LMND Lemonade Inc.	0.17%	2,866,446	$204.0M	Reduce -2.6%
DNLI Denali Therapeutics Inc.	0.17%	12,310,889	$203.3M	Add +6.2%
BZ Kanzhun Ltd. - ADR	0.17%	9,955,584	$202.9M	Add +16.2%
BROS Dutch Bros Inc. Class A	0.16%	3,230,676	$197.8M	Reduce -7.6%
COIN Coinbase Global Inc. Class A	0.16%	829,081	$187.5M	Add +41.1%
ECL Ecolab Inc.	0.15%	691,003	$181.4M	Reduce -2.9%
AAPL Apple Inc.	0.15%	663,344	$180.3M	Reduce -6.7%
YETI Yeti Holdings Inc. filed as YETI HLDGS INC	0.14%	3,945,196	$174.3M	Add +50.9%
DOCS Doximity Inc. Class A	0.14%	3,711,340	$164.3M	Reduce -3.6%
RELY Remitly Global Inc.	0.13%	11,658,558	$160.9M	Add +48.2%
UTHR United Therapeutics Corp.	0.13%	323,016	$157.4M	New
ADI Analog Devices Inc.	0.13%	568,465	$154.2M	Reduce -2.1%
KNF Knife River Corp.	0.12%	2,128,401	$149.7M	Reduce -3.2%
IBN Icici Bank Ltd.-Spon ADR	0.12%	4,709,302	$140.3M	Reduce -3.6%
PG The Procter & Gamble Co.	0.11%	896,945	$128.5M	Reduce -2.4%
BBD Banco Bradesco-ADR	0.11%	38,275,506	$127.5M	Add +36.8%
BC Brunswick Corp.	0.10%	1,678,211	$124.6M	Reduce -7.3%
CME Cme Group Inc.	0.10%	446,036	$121.8M	Reduce -2.5%
BNTX Biontech SE-ADR	0.10%	1,244,867	$118.5M	Reduce -84.2%
MDB Mongodb Inc.	0.09%	267,331	$112.2M	New
BABA Alibaba Group Holding-SP ADR	0.09%	740,365	$108.5M	Add +99.2%
COUR Coursera Inc.	0.09%	14,590,942	$107.4M	Add +97.0%
MNDY Monday.com Ltd.	0.09%	723,655	$106.8M	Add +2.2%
TFII Tfi International Inc.	0.09%	1,029,871	$106.6M	Add +1.1%
BLLN Billiontoone Inc. Class A	0.09%	1,268,163	$103.8M	New
LINE Lineage Inc.	0.08%	2,786,283	$97.5M	Reduce -5.7%
RXRX Recursion Pharmaceuticals-A	0.08%	23,774,972	$97.2M	Reduce -0.8%
FND Floor & Decor Holdings Inc. Class A	0.08%	1,587,372	$96.7M	Reduce -3.8%
PEP Pepsico Inc.	0.08%	650,222	$93.3M	Reduce -1.9%
ACN Accenture PLC Class A	0.08%	342,567	$91.9M	Add +49.4%
PONY Pony AI Inc.	0.08%	6,301,650	$91.4M	Reduce -2.5%
VRTX Vertex Pharmaceuticals Inc.	0.08%	201,088	$91.2M	Reduce -2.9%
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC	0.08%	496,603	$90.6M	Add +47.6%
WSC Willscot Holdings Corp.	0.07%	4,711,287	$88.7M	Reduce -3.0%
HTFL Heartflow Inc.	0.07%	3,005,998	$87.6M	No change
INTU Intuit Inc.	0.07%	131,793	$87.3M	Reduce -6.0%
SVV Savers Value Village Inc.	0.07%	8,895,847	$83.1M	Reduce -4.4%
ENPH Enphase Energy Inc.	0.07%	2,587,853	$82.9M	Reduce -2.9%
XMTR Xometry Inc. Class A	0.06%	1,306,151	$77.7M	Add +1.6%
CSCO Cisco Systems Inc.	0.06%	1,006,219	$77.5M	Reduce -1.9%
MBLY Mobileye Global Inc. Class A	0.06%	7,371,722	$77.0M	Reduce -31.8%
FAST Fastenal Co.	0.06%	1,908,484	$76.6M	Reduce -21.5%
SG Sweetgreen Inc. Class A	0.06%	10,666,540	$72.1M	Reduce -3.6%
ITUB Itau Unibanco H-Spon PRF ADR	0.06%	9,654,305	$69.1M	Reduce -2.3%
ARM Arm Holdings PLC-ADR	0.06%	612,528	$67.0M	Reduce -4.4%
FROG Jfrog Ltd.	0.05%	871,028	$54.4M	Reduce -10.5%
SBUX Starbucks Corp.	0.05%	645,865	$54.4M	Reduce -6.0%
KO The Coca-Cola Co.	0.04%	760,904	$53.2M	Reduce -1.2%
HD Home Depot Inc.	0.04%	150,964	$51.9M	Add +16.8%
Z Zillow Group Inc. Class C	0.04%	739,270	$50.4M	Add +11.4%
ALB Albemarle Corp.	0.04%	352,618	$49.9M	Reduce -2.2%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC	0.04%	482,941	$49.4M	Reduce -2.3%
MDT Medtronic PLC	0.04%	475,074	$45.6M	Reduce -0.7%
EW Edwards Lifesciences Corp.	0.04%	516,311	$44.0M	Reduce -9.8%
AMSC American Superconductor Corp.	0.04%	1,506,841	$43.4M	Add +5.6%
PBR.A Petroleo Brasil-SP Pref ADR	0.04%	3,768,768	$42.5M	Reduce -0.1%
DLO Dlocal Ltd.	0.04%	2,996,660	$42.4M	Add +12.2%
ALAB Astera Labs Inc.	0.04%	252,913	$42.1M	Add +9.6%
TWST Twist Bioscience Corp.	0.03%	1,276,195	$40.5M	Add +1.1%
MCD McDonald's Corp.	0.03%	126,880	$38.8M	Reduce -2.8%
TMDX Transmedics Group Inc.	0.03%	316,473	$38.5M	Add +21.4%
INFY Infosys Ltd.-SP ADR	0.03%	2,107,125	$37.5M	Reduce -23.2%
MP MP Materials Corp.	0.03%	717,292	$36.2M	Reduce -24.9%
SVM Silvercorp Metals Inc.	0.03%	4,221,271	$35.2M	New
PAYX Paychex Inc.	0.03%	304,062	$34.1M	Reduce -1.5%
APPN Appian Corp. Class A	0.03%	941,106	$33.3M	Reduce -5.3%
UPST Upstart Holdings Inc.	0.03%	758,929	$33.2M	New
PGNY Progyny Inc.	0.03%	1,262,691	$32.4M	Add +0.4%
PRCT Procept Biorobotics Corp.	0.03%	1,015,978	$32.0M	Add +18.3%
AMPL Amplitude Inc. Class A	0.03%	2,741,880	$31.8M	Add +2.2%
MNST Monster Beverage Corp.	0.02%	389,458	$29.9M	Add +18.4%
SKYT Skywater Technology Inc.	0.02%	1,564,775	$28.4M	Reduce -3.8%
BCH Banco DE Chile-ADR	0.02%	732,470	$27.8M	Reduce -21.8%
RAMP Liveramp Holdings Inc.	0.02%	939,961	$27.6M	Reduce -8.4%
IPGP Ipg Photonics Corp.	0.02%	383,984	$27.5M	Reduce -5.7%
SANA Sana Biotechnology Inc.	0.02%	6,609,065	$26.9M	Reduce -42.2%
AEHR Aehr Test Systems	0.02%	1,290,734	$26.1M	Reduce -15.7%
TNDM Tandem Diabetes Care Inc.	0.02%	1,145,516	$25.2M	Add +2.2%
CP Canadian Pacific Kansas City	0.02%	305,553	$22.5M	Reduce -31.9%
KRNT Kornit Digital Ltd.	0.02%	1,565,079	$22.5M	Add +61.7%
KTOS Kratos Defense & Security	0.02%	282,562	$21.4M	Add +35.5%
UPWK Upwork Inc.	0.02%	1,030,754	$20.4M	Reduce -12.5%
LU Lufax Holding Ltd.-ADR	0.02%	7,942,847	$20.3M	Reduce -5.5%
IREN Iren Ltd. filed as IREN LIMITED	0.02%	527,686	$19.9M	Reduce -6.3%
DNA Ginkgo Bioworks Holdings Inc.	0.02%	2,391,649	$19.9M	Reduce -26.1%
ZTS Zoetis Inc.	0.02%	150,845	$19.0M	New
EQT Eqt Corp.	0.01%	334,040	$17.9M	Add +21.2%
PI Impinj Inc.	0.01%	102,753	$17.9M	New
ADBE Adobe Inc.	0.01%	50,514	$17.7M	No change
CHYM Chime Financial Inc. Class A	0.01%	678,717	$17.1M	No change
NEE Nextera Energy Inc.	0.01%	207,039	$16.6M	Reduce -19.6%
BKNG Booking Holdings Inc.	0.01%	3,058	$16.4M	No change
MRSH Marsh & McLennan Cos	0.01%	87,167	$16.2M	Add +5.8%
BEPC Brookfield Renewable Corp.	0.01%	412,931	$15.8M	Reduce -22.2%
WAB Wabtec Corp.	0.01%	73,744	$15.7M	Reduce -18.5%
UTI Universal Technical Institut	0.01%	594,823	$15.5M	Add +2.4%
RVMD Revolution Medicines Inc.	0.01%	194,959	$15.5M	New
CNP Centerpoint Energy Inc.	0.01%	400,829	$15.4M	Add +5.4%
QS Quantumscape Corp.	0.01%	1,459,100	$15.2M	Reduce -14.6%
EOG EOG Resources Inc.	0.01%	144,033	$15.1M	No change
SDGR Schrodinger Inc.	0.01%	835,488	$14.9M	Reduce -14.3%
MSI Motorola Solutions Inc.	0.01%	38,760	$14.9M	No change
CRCL Circle Internet Group Inc.	0.01%	186,337	$14.8M	Add +0.3%
NVCR Novocure Ltd.	0.01%	1,121,274	$14.5M	Reduce -0.3%
TTEK Tetra Tech Inc.	0.01%	428,775	$14.4M	Reduce -18.0%
FTS Fortis Inc.	0.01%	265,404	$13.8M	Reduce -15.9%
WEC WEC Energy Group Inc.	0.01%	129,676	$13.7M	Reduce -1.3%
EXC Exelon Corp.	0.01%	309,409	$13.5M	Reduce -15.5%
SO The Southern Co.	0.01%	154,618	$13.5M	Add +1.2%
ODFL Old Dominion Freight Line	0.01%	84,962	$13.3M	New
BRO Brown & Brown Inc.	0.01%	166,161	$13.2M	New
CRWD CrowdStrike Holdings Inc. Class A	0.01%	27,845	$13.1M	No change
UNH Unitedhealth Group Inc.	0.01%	39,537	$13.1M	Reduce -18.7%
PGR Progressive Corp.	0.01%	54,606	$12.4M	No change
BEAM Beam Therapeutics Inc.	0.01%	416,224	$11.5M	Add +39.8%
BSY Bentley Systems Inc. Class B	0.01%	298,295	$11.4M	Add +54633.0%
MSA Msa Safety Inc.	0.01%	69,128	$11.1M	Reduce -16.7%
EH Ehang Holdings Ltd.-SPS ADR	0.01%	774,166	$10.2M	New
SNPS Synopsys Inc.	0.01%	21,166	$9.9M	Reduce -20.5%
AMT American Tower Corp.	0.01%	56,181	$9.9M	Reduce -13.9%
ES Eversource Energy	0.01%	139,244	$9.4M	Reduce -37.4%
CDNS Cadence Design SYS Inc.	0.01%	29,025	$9.1M	Reduce -19.7%
NKE Nike Inc. Class B	0.01%	127,778	$8.1M	Add +0.1%
STOK Stoke Therapeutics Inc.	0.01%	246,900	$7.8M	New
CABLE ONE INC (CABO 1.125 03/15/28)	0.01%	9,435,000	$7.7M	Add +28.0%
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL	0.01%	118,133	$7.4M	Add +2.6%
CSL Carlisle Cos Inc.	0.01%	22,884	$7.3M	Reduce -19.1%
RXST Rxsight Inc.	0.01%	693,146	$7.2M	Add +1.0%
MKTX Marketaxess Holdings Inc.	0.01%	39,115	$7.1M	Reduce -76.2%
ATAT Atour Lifestyle Holdings-ADR	0.01%	176,975	$7.0M	New
TBBB BBB Foods Inc. Class A	0.01%	194,851	$6.5M	No change
DLR Digital Realty Trust Inc.	0.01%	40,541	$6.3M	Add +526.2%
CGNX Cognex Corp.	0.01%	173,538	$6.2M	Reduce -82.8%
DOC Healthpeak Properties Inc.	0.00%	367,256	$5.9M	Add +613.2%
PLD Prologis Inc.	0.00%	41,787	$5.3M	Reduce -20.0%
SUI Sun Communities Inc. filed as SUN CMNTYS INC	0.00%	42,273	$5.2M	Reduce -12.3%
WRBY Warby Parker Inc. Class A	0.00%	230,057	$5.0M	Reduce -49.6%
PM Philip Morris International	0.00%	30,741	$4.9M	Add +59.3%
BUR Burford Capital Ltd.	0.00%	398,433	$3.6M	Reduce -43.0%
ZG Zillow Group Inc. Class A	0.00%	45,840	$3.1M	Reduce -48.9%
AER Aercap Holdings NV	0.00%	16,092	$2.3M	No change
ED Consolidated Edison Inc.	0.00%	19,093	$1.9M	No change
FRPT Freshpet Inc.	0.00%	23,601	$1.4M	No change
EIX Edison International	0.00%	18,900	$1.1M	No change
BSLK Bolt Projects Holdings Inc.	0.00%	123,290	$99K	No change
TER Teradyne Inc.	0.00%	341	$66K	Add +9.3%
CRH CRH PLC	0.00%	509	$64K	Add +8.5%
RIO Rio Tinto PLC-Spon ADR	0.00%	524	$42K	Add +51.0%
SONY Sony Group Corp. - SP ADR	0.00%	1,551	$40K	New
STN Stantec Inc.	0.00%	413	$39K	No change
NXT Nextpower Inc.	0.00%	420	$37K	Add +76.5%
PL Planet Labs PBC	0.00%	1,637	$32K	New
HUBB Hubbell Inc.	0.00%	70	$31K	Add +62.8%
UL Unilever PLC-Sponsored ADR	0.00%	405	$26K	No change
NVO Novo-Nordisk A/S-Spons ADR	0.00%	437	$22K	Add +39.2%
LNN Lindsay Corp.	0.00%	137	$16K	New
YMM Full Truck Alliance -SPN ADR	0.00%	1,158	$12K	New
VEEV Veeva Systems Inc. Class A	0.00%	49	$11K	Add +16.7%
MICC The Magnum Ice Cream Co. NV	0.00%	677	$11K	Add +642.3%
BIDU Baidu Inc. - Spon ADR	0.00%	30	$4K	Reduce -9.1%
AXIAY Axia Energia-ADR filed as CENTRAIS ELET BRAS SA	0.00%	264	$2K	New
BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC	0.00%	128	$2K	Reduce -100.0%
ONC Beone Medicines Ltd.-ADR	0.00%	6	$2K	Reduce -25.0%
LI Li Auto Inc. - ADR	0.00%	53	$897	Reduce -47.5%
AXICY Axia Energia-ADR Pref C filed as CENTRAIS ELET BRAS SA	0.00%	69	$595	New

Other holdings (1): bonds, preferreds, convertibles and warrants · $7.1M (not counted above)

Security	Class	Shares / Principal	Value	Change
ALBEMARLE CORP (ALB 7.25 03/01/27)	7.25% DEP SHS A	120,000	$7.1M	No change

Total filed on the 13F, all lines: $120.3B.

Portfolio Sells Q3 2025 → Q4 2025


SE Sea Ltd.-ADR	Reduce -3.3%	4.11%	−1.20
RBLX Roblox Corp. Class A	Reduce -7.5%	1.45%	−0.94
DDOG Datadog Inc. Class A	Reduce -65.3%	0.45%	−0.76
CPNG Coupang Inc.	Reduce -2.8%	2.86%	−0.72
NET Cloudflare Inc. Class A	Reduce -23.0%	2.76%	−0.72
BNTX Biontech SE-ADR	Reduce -84.2%	0.10%	−0.48
SPOT Spotify Technology SA	Reduce -4.2%	4.02%	−0.48
META Meta Platforms Inc. Class A	Reduce -16.8%	2.41%	−0.46
TTD Trade Desk Inc./the Class A	Reduce -23.4%	0.70%	−0.35
ELF Elf Beauty Inc.	Reduce -2.3%	0.45%	−0.27
AZO AutoZone Inc.	Reduce -40.1%	0.24%	−0.21
RACE Ferrari NV	Reduce -1.3%	1.21%	−0.20
PDD PDD Holdings Inc.	Reduce -2.4%	2.92%	−0.19
PINS Pinterest Inc. Class A	Sold out	0.00%	−0.19
AVAV Aerovironment Inc.	Reduce -33.9%	0.24%	−0.18
DASH DoorDash Inc. Class A	Reduce -3.6%	1.50%	−0.17
CHWY Chewy Inc. Class A	Sold out	0.00%	−0.17
TEM Tempus AI Inc. Class A	Reduce -9.8%	0.43%	−0.15
WIX Wix.com Ltd.	Reduce -1.3%	0.25%	−0.13
BLDR Builders Firstsource Inc.	Sold out	0.00%	−0.13
XYZ Block Inc.	Reduce -15.3%	0.53%	−0.09
ALNY Alnylam Pharmaceuticals Inc.	Reduce -6.8%	0.86%	−0.08
DOCS Doximity Inc. Class A	Reduce -3.6%	0.14%	−0.07
AUR Aurora Innovation Inc.	Reduce -1.3%	0.24%	−0.06
INSP Inspire Medical Systems Inc.	Sold out	0.00%	−0.06
JOBY Joby Aviation Inc.	Reduce -1.7%	0.54%	−0.06
MBLY Mobileye Global Inc. Class A	Reduce -31.8%	0.06%	−0.05
PAYC Paycom Software Inc.	Reduce -4.1%	0.22%	−0.05
TSLA Tesla Inc.	Reduce -19.0%	0.50%	−0.04
FIX Comfort Systems USA Inc.	Reduce -33.4%	0.21%	−0.04
ABCL Abcellera Biologics Inc.	Sold out	0.00%	−0.04
UBER Uber Technologies Inc.	Reduce -5.2%	0.27%	−0.03
PONY Pony AI Inc.	Reduce -2.5%	0.08%	−0.03
EXAS Exact Sciences Corp.	Sold out	0.00%	−0.03
CGNX Cognex Corp.	Reduce -82.8%	0.01%	−0.03
CYBR Cyberark Software Ltd./Israel	Sold out	0.00%	−0.03
WSO Watsco Inc.	Reduce -2.8%	0.26%	−0.03
FAST Fastenal Co.	Reduce -21.5%	0.06%	−0.02
AJG Arthur J Gallagher & Co.	Reduce -4.8%	0.19%	−0.02
SVV Savers Value Village Inc.	Reduce -4.4%	0.07%	−0.02
GRAB Grab Holdings Ltd. Class A	Reduce -3.0%	0.19%	−0.02
MSFT Microsoft Corp.	Reduce -5.4%	2.23%	−0.02
DNA Ginkgo Bioworks Holdings Inc.	Reduce -26.1%	0.02%	−0.02
MP MP Materials Corp.	Reduce -24.9%	0.03%	−0.02
VECO Veeco Instruments Inc.	Sold out	0.00%	−0.02
MKTX Marketaxess Holdings Inc.	Reduce -76.2%	0.01%	−0.02
ETN Eaton Corp. PLC	Reduce -3.5%	0.18%	−0.02
CFLT Confluent Inc. Class A	Sold out	0.00%	−0.01
AEHR Aehr Test Systems	Reduce -15.7%	0.02%	−0.01
ARM Arm Holdings PLC-ADR	Reduce -4.4%	0.06%	−0.01

Portfolio Buys Q3 2025 → Q4 2025


AXON Axon Enterprise Inc.	Add +1198.7%	0.78%	+0.71
RKLB Rocket Lab Corp.	Add +47.2%	1.03%	+0.60
NU Nu Holdings Ltd./Cayman Isl-A	Add +2.3%	3.58%	+0.60
GOOG Alphabet Inc. Class C	Add +29.0%	0.98%	+0.45
GOOGL Alphabet Inc. Class A	Add +166.7%	0.50%	+0.37
MDLN Medline Inc. Class A	New	0.36%	+0.36
ENSG The Ensign Group Inc.	Add +62.1%	0.66%	+0.30
IOT Samsara Inc. Class A	Add +15.0%	1.40%	+0.26
QXO Qxo Inc.	Add +16117.6%	0.24%	+0.23
CSGP Costar Group Inc.	Add +56.9%	0.72%	+0.21
TMO Thermo Fisher Scientific Inc.	Add +56.9%	0.37%	+0.19
TEAM Atlassian Corp. Class A	Add +3.9%	1.14%	+0.18
UTHR United Therapeutics Corp.	New	0.13%	+0.13
DG Dollar General Corp.	Add +2.1%	0.37%	+0.12
MSCI MSCI Inc.	Add +22.5%	0.40%	+0.11
MDB Mongodb Inc.	New	0.09%	+0.09
BLLN Billiontoone Inc. Class A	New	0.09%	+0.09
MELI MercadoLibre Inc.	Add +5.0%	5.83%	+0.08
YETI Yeti Holdings Inc.	Add +50.9%	0.14%	+0.08
FIG Figma Inc. Class A	Add +93.8%	0.18%	+0.06
DNLI Denali Therapeutics Inc.	Add +6.2%	0.17%	+0.04
BABA Alibaba Group Holding-SP ADR	Add +99.2%	0.09%	+0.04
RELY Remitly Global Inc.	Add +48.2%	0.13%	+0.04
JKHY Jack Henry & Associates Inc.	Add +47.6%	0.08%	+0.04
BBD Banco Bradesco-ADR	Add +36.8%	0.11%	+0.04
DUOL Duolingo	Add +71.9%	0.71%	+0.03
ACN Accenture PLC Class A	Add +49.4%	0.08%	+0.03
SVM Silvercorp Metals Inc.	New	0.03%	+0.03
UPST Upstart Holdings Inc.	New	0.03%	+0.03
COUR Coursera Inc.	Add +97.0%	0.09%	+0.03
TFII Tfi International Inc.	Add +1.1%	0.09%	+0.02
BZ Kanzhun Ltd. - ADR	Add +16.2%	0.17%	+0.02
ZTS Zoetis Inc.	New	0.02%	+0.02
PI Impinj Inc.	New	0.01%	+0.01
RVMD Revolution Medicines Inc.	New	0.01%	+0.01
XMTR Xometry Inc. Class A	Add +1.6%	0.06%	+0.01
ODFL Old Dominion Freight Line	New	0.01%	+0.01
BRO Brown & Brown Inc.	New	0.01%	+0.01
TNDM Tandem Diabetes Care Inc.	Add +2.2%	0.02%	+0.01
TMDX Transmedics Group Inc.	Add +21.4%	0.03%	+0.01
BSY Bentley Systems Inc. Class B	Add +54633.0%	0.01%	+0.01
KRNT Kornit Digital Ltd.	Add +61.7%	0.02%	+0.01
COIN Coinbase Global Inc. Class A	Add +41.1%	0.16%	+0.01
EH Ehang Holdings Ltd.-SPS ADR	New	0.01%	+0.01
MNST Monster Beverage Corp.	Add +18.4%	0.02%	+0.01
TWST Twist Bioscience Corp.	Add +1.1%	0.03%	+0.01
DLO Dlocal Ltd.	Add +12.2%	0.04%	+0.01
PGNY Progyny Inc.	Add +0.4%	0.03%	+0.01
STOK Stoke Therapeutics Inc.	New	0.01%	+0.01
ATAT Atour Lifestyle Holdings-ADR	New	0.01%	+0.01

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	272	$110.2B	SPCX, NVDA, AMZN, MELI, SE
Q1 2026	270	$97.9B	NVDA, AMZN, MELI, SPOT, NU
Q4 2025	265	$120.3B	NVDA, MELI, AMZN, SHOP, SE
Q3 2025	264	$135.0B	NVDA, MELI, SE, AMZN, SPOT
Q2 2025	263	$133.9B	MELI, NVDA, SPOT, AMZN, SE
Q1 2025	264	$114.6B	MELI, AMZN, SPOT, SHOP, SE
Q4 2024	270	$130.1B	AMZN, MELI, NVDA, SHOP, SPOT
Q3 2024	276	$133.6B	MELI, NVDA, AMZN, SPOT, SHOP
Q2 2024	284	$128.4B	NVDA, MELI, AMZN, MRNA, SPOT
Q1 2024	289	$128.6B	NVDA, MELI, AMZN, SPOT, MRNA