Baillie Gifford
large-active, growth, lo
Quarter Analysis
13F change notes for Baillie Gifford in 2025-12-31.
Baillie Gifford's last 'wide' growth quarter — book $120B, all top-12 names persistence-flagged. The big news: Netflix scaled +912% in shares (massive add from a small prior sleeve, basically a re-initiation), Nu Holdings +2%, MELI +5%. Cuts: Meta -17%, Cloudflare -23%, Shopify -12%. Reads as Baillie loading NFLX while reducing peak mega-cap-tech.
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★ HELD
NVIDIA NVDA
Top weight 6.80%, 40 quarters at +1693% unrealized — the multi-decade growth anchor.
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★ HELD
MercadoLibre MELI
51 quarters at +307% unrealized; shares +5% — adding to the LatAm anchor.
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★ HELD
Amazon.Com AMZN
51 quarters at +836% unrealized — the Baillie / Anderson legacy position.
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▲ ADDED
Netflix Inc NFLX
Shares +912% — massive re-initiation move; pulled back in Q1-2026 with a -41% trim.
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★ HELD
Meta Platforms Inc META
Cut -17% at +204% unrealized — taking some profit on the long-running social-media winner.
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• CONTEXT
Quiet platform quarter ahead of the Q1-2026 book shrink — the Netflix re-add is the most interesting single-name move.