# EDGAR Filing Document

**Accession Number:** 0001120543
**File Stem:** 0001752724-23-036631
**Filing Date:** 2023-2
**Character Count:** 29449
**Document Hash:** 1a0357c929d635912538d5541de9468a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-036631.hdr.sgml**: 20230223

**ACCESSION NUMBER**: 0001752724-23-036631

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221230

**FILED AS OF DATE**: 20230223

**DATE AS OF CHANGE**: 20230223

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BAILLIE GIFFORD FUNDS
- **CENTRAL INDEX KEY:** 0001120543
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-10145
- **FILM NUMBER:** 23658199

**BUSINESS ADDRESS:**
- **STREET 1:** CALTON SQUARE, 1 GREENSIDE ROW
- **STREET 2:** EDINBURGH SCOTLAND
- **CITY:** EH1 3AN
- **STATE:** X0
- **ZIP:** 00000
- **BUSINESS PHONE:** 0144131222

**MAIL ADDRESS:**
- **STREET 1:** CALTON SQUARE, 1 GREENSIDE ROW
- **STREET 2:** EDINBURGH SCOTLAND
- **CITY:** EH1 3AN
- **STATE:** X0
- **ZIP:** 00000

## Series and Classes Contracts Data

### Baillie Gifford International Alpha Fund (Series ID: S000012763)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000034445 | Class 2             | BGITX           |
| C000034446 | Class 3             | BGIFX           |
| C000078438 | Class 4             | BGIUX           |
| C000116266 | Class 5             | BGIVX           |
| C000186028 | Institutional Class | BINSX           |
| C000186029 | Class K             | BGIKX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Baillie Gifford Funds

- **b. Investment Company Act file number:** 811-10145

- **c. CIK number of Registrant:** 0001120543

- **d. LEI of Registrant:** 213800T287IYS8QHPC42

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** CALTON SQUARE, ONE GREENSIDE ROW

  - **City:** EDINBURGH

  - **Zip / Postal Code:** EH1 3AN

  - **Telephone number:** 011-44-131-275-2000

**Item A.2. Information about the Series.**

- **a. Name of Series:** Baillie Gifford International Alpha Fund

- **b. EDGAR series identifier (if any):** S000012763

- **c. LEI of Series:** 21380086L3U8K7PHRI60

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $2117191356.83

**Total Liabilities:** $3972579.05

**Net Assets:** $2113218777.78

**Cash Not Reported:** $35602424.42

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000186029 | 2.73%                | 16.48%               | -3.70%               |
| Class ID C000034446 | 2.77%                | 16.53%               | -3.72%               |
| Class ID C000034445 | 2.76%                | 16.53%               | -3.73%               |
| Class ID C000116266 | 2.78%                | 16.54%               | -3.72%               |
| Class ID C000186028 | 2.73%                | 16.55%               | -3.66%               |
| Class ID C000078438 | 2.77%                | 16.54%               | -3.72%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2087401.76             | $61081728.15                               |
| Month 2  | $-54179763.24            | $397308549.41                              |
| Month 3  | $-7689480.62             | $-73799951.19                              |

### Schedule of Portfolio Investments

| Name                           | Title                                     | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Oxford Nanopore Technologies P | Oxford Nanopore Technologies PLC          | CUSIP: 000000000<br>LEI: 213800IRWQ2Q6M2CDW55 | Long             | EC               | CORP              | GB        |   3153979 | NS      | $9289699.07   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| ICICI Lombard General Insuranc | ICICI Lombard General Insurance Co Ltd    | CUSIP: 000000000<br>LEI: 335800ZZITZ7ZZZ2ZX87 | Long             | EC               | CORP              | IN        |   1301155 | NS      | $19427245.77  | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| Discovery Ltd                  | Discovery Ltd                             | CUSIP: 000000000<br>LEI: 378900245A26169C8132 | Long             | EC               | CORP              | ZA        |   3698137 | NS      | $26749892.46  | 1.27%             |  |  |  | No            |                  2 | On Loan: No      |
| IMCD NV                        | IMCD NV                                   | CUSIP: 000000000<br>LEI: 724500NSJPNFJPDAUP02 | Long             | EC               | CORP              | NL        |    323198 | NS      | $46230750.80  | 2.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Boerse AG             | Deutsche Boerse AG                        | CUSIP: 000000000<br>LEI: 529900G3SW56SHYNPR95 | Long             | EC               | CORP              | DE        |    247587 | NS      | $42632052.64  | 2.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Wizz Air Holdings Plc          | Wizz Air Holdings Plc                     | CUSIP: 000000000<br>LEI: 213800COXGZCORLJZA85 | Long             | EC               | CORP              | CH        |    321123 | NS      | $7342718.32   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Scout24 SE                     | Scout24 SE                                | CUSIP: 000000000<br>LEI: 5493007EIKM2ENQS7U66 | Long             | EC               | CORP              | DE        |    737473 | NS      | $37119720.34  | 1.76%             |  |  |  | No            |                  2 | On Loan: No      |
| HKEX                           | Hong Kong Exchanges & Clearing Ltd        | CUSIP: 000000000<br>LEI: 213800YTVSXYQN17BW16 | Long             | EC               | CORP              | HK        |    688900 | NS      | $29602209.30  | 1.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Keyence Corp                   | Keyence Corp                              | CUSIP: 000000000<br>LEI: 529900M7PQBS7A89DZ11 | Long             | EC               | CORP              | JP        |     57000 | NS      | $22129952.59  | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| FANUC Corp                     | FANUC Corp                                | CUSIP: 000000000<br>LEI: 529900QTSW745LOKW705 | Long             | EC               | CORP              | JP        |    202400 | NS      | $30288468.03  | 1.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Ryanair Holdings PLC           | Ryanair Holdings PLC                      | CUSIP: 783513203<br>LEI: 635400BR2ROC1FVEBQ56 | Long             | EC               | CORP              | IE        |    633037 | NS      | $47325846.12  | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Shiseido Co Ltd                | Shiseido Co Ltd                           | CUSIP: 000000000<br>LEI: 5299008QCD0YDT5OF506 | Long             | EC               | CORP              | JP        |    682200 | NS      | $33437164.98  | 1.58%             |  |  |  | No            |                  2 | On Loan: No      |
| AIA Group Ltd                  | AIA Group Ltd                             | CUSIP: 000000000<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |   7147400 | NS      | $78931537.15  | 3.74%             |  |  |  | No            |                  2 | On Loan: No      |
| Novozymes A/S                  | Novozymes A/S                             | CUSIP: 000000000<br>LEI: 529900T6WNZXD2R3JW38 | Long             | EC               | CORP              | DK        |    541075 | NS      | $27450741.54  | 1.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Amadeus IT Group SA            | Amadeus IT Group SA                       | CUSIP: 000000000<br>LEI: 9598004A3FTY3TEHHN09 | Long             | EC               | CORP              | ES        |    571024 | NS      | $29623453.36  | 1.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Shimano Inc                    | Shimano Inc                               | CUSIP: 000000000<br>LEI: 529900L32YT3P9DECR10 | Long             | EC               | CORP              | JP        |    155600 | NS      | $24587740.03  | 1.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Nintendo Co Ltd                | Nintendo Co Ltd                           | CUSIP: 000000000<br>LEI: 353800FEEXU6I9M0ZF27 | Long             | EC               | CORP              | JP        |    526800 | NS      | $22150138.64  | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Danone SA                      | Danone SA                                 | CUSIP: 000000000<br>LEI: 969500KMUQ2B6CBAF162 | Long             | EC               | CORP              | FR        |    613785 | NS      | $32349987.51  | 1.53%             |  |  |  | No            |                  2 | On Loan: No      |
| MIPS AB                        | MIPS AB                                   | CUSIP: 000000000<br>LEI: 549300LZSA4S0L54VQ25 | Long             | EC               | CORP              | SE        |    218641 | NS      | $9037690.41   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Denso Corp                     | Denso Corp                                | CUSIP: 000000000<br>LEI: 549300RYPA10CQM3QK38 | Long             | EC               | CORP              | JP        |    597500 | NS      | $29301296.12  | 1.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Nestle SA                      | Nestle SA                                 | CUSIP: 000000000<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |    436560 | NS      | $50426798.44  | 2.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Ritchie Bros Auctioneers Inc   | Ritchie Bros Auctioneers Inc              | CUSIP: 767744105<br>LEI: 5493002H8U24DJXQ4886 | Long             | EC               | CORP              | CA        |    228655 | NS      | $13223118.65  | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Music Entertainment Gr | Tencent Music Entertainment Group         | CUSIP: 88034P109<br>LEI: 213800XTZK2GOHQTYK41 | Long             | EC               | CORP              | CN        |   2858742 | NS      | $23670383.76  | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Wuxi Biologics Cayman Inc      | Wuxi Biologics Cayman Inc                 | CUSIP: 000000000<br>LEI: 5493001TD2TH6VDTJU11 | Long             | EC               | CORP              | CN        |   1198500 | NS      | $9077332.24   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| BioNTech SE                    | BioNTech SE                               | CUSIP: 09075V102<br>LEI: 894500UZJ5LG1F8J1U58 | Long             | EC               | CORP              | DE        |    136262 | NS      | $20469277.64  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd     | Samsung Electronics Co Ltd                | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |   1051096 | NS      | $46136012.58  | 2.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Magnit PJSC                    | Magnit PJSC                               | CUSIP: 000000000<br>LEI: 2534009KKPTVL99W2Y12 | Long             | EC               | CORP              | RU        |    237700 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Sea Ltd                        | Sea Ltd                                   | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               | CORP              | SG        |    168041 | NS      | $8743173.23   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Prosus NV                      | Prosus NV                                 | CUSIP: 000000000<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | EC               | CORP              | NL        |    258745 | NS      | $17864646.41  | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| TSMC                           | Taiwan Semiconductor Manufacturing Co Ltd | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |   4315000 | NS      | $62668744.10  | 2.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Alibaba Group Holding Ltd      | Alibaba Group Holding Ltd                 | CUSIP: 000000000<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | CN        |   1618388 | NS      | $17758431.39  | 0.84%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan Exchange Group Inc       | Japan Exchange Group Inc                  | CUSIP: 000000000<br>LEI: 353800578ADEGIJTVW07 | Long             | EC               | CORP              | JP        |   1512500 | NS      | $21799350.17  | 1.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Spotify Technology SA          | Spotify Technology SA                     | CUSIP: 000000000<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | SE        |    141211 | NS      | $11148608.45  | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Just Eat Takeaway.com NV       | Just Eat Takeaway.com NV                  | CUSIP: 000000000<br>LEI: 724500FVZIBSSQ7SHI95 | Long             | EC               | CORP              | NL        |    159921 | NS      | $3364076.05   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| EXOR NV                        | EXOR NV                                   | CUSIP: 000000000<br>LEI: 5493002ENHZ6NYET7405 | Long             | EC               | CORP              | NL        |    275869 | NS      | $20197566.70  | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| Nexans SA                      | Nexans SA                                 | CUSIP: 000000000<br>LEI: 96950015FU78G84UIV14 | Long             | EC               | CORP              | FR        |    146596 | NS      | $13268302.86  | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| Kuehne + Nagel International A | Kuehne + Nagel International AG           | CUSIP: 000000000<br>LEI: 529900Q0YED3805QXQ66 | Long             | EC               | CORP              | CH        |     72072 | NS      | $16755496.70  | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Sartorius Stedim Biotech       | Sartorius Stedim Biotech                  | CUSIP: 000000000<br>LEI: 52990006IVXY7GCSSR39 | Long             | EC               | CORP              | FR        |     69052 | NS      | $22439697.43  | 1.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Housing Development Finance Co | Housing Development Finance Corp Ltd      | CUSIP: 000000000<br>LEI: 335800OX2H9AP7NHLT64 | Long             | EC               | CORP              | IN        |   1766552 | NS      | $56160391.79  | 2.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Shopify Inc                    | Shopify Inc                               | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |    430507 | NS      | $14942897.97  | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| AbCellera Biologics Inc        | AbCellera Biologics Inc                   | CUSIP: 00288U106<br>LEI: 9845000861BC95FF9F73 | Long             | EC               | CORP              | CA        |    835455 | NS      | $8463159.15   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| MonotaRO Co Ltd                | MonotaRO Co Ltd                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |   1753300 | NS      | $24696783.07  | 1.17%             |  |  |  | No            |                  2 | On Loan: No      |
| SMC Corp                       | SMC Corp                                  | CUSIP: 000000000<br>LEI: 353800O40V08DOZ70X62 | Long             | EC               | CORP              | JP        |     59600 | NS      | $24886207.25  | 1.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Tencent Holdings Ltd           | Tencent Holdings Ltd                      | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | CN        |    740000 | NS      | $31376269.25  | 1.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Adyen NV                       | Adyen NV                                  | CUSIP: 000000000<br>LEI: 724500973ODKK3IFQ447 | Long             | EC               | CORP              | NL        |     18387 | NS      | $25525750.47  | 1.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Ambu A/S                       | Ambu A/S                                  | CUSIP: 000000000<br>LEI: 5299008W2A69WX355710 | Long             | EC               | CORP              | DK        |    679370 | NS      | $8724871.62   | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Topicus.com Inc                | Topicus.com Inc                           | CUSIP: 89072T102<br>LEI: N/A                  | Long             | EC               | CORP              | NL        |    353853 | NS      | $18578589.19  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto PLC                  | Rio Tinto PLC                             | CUSIP: 000000000<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |    666940 | NS      | $46941932.57  | 2.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Atlas Copco AB                 | Atlas Copco AB                            | CUSIP: 000000000<br>LEI: 213800T8PC8Q4FYJZR07 | Long             | EC               | CORP              | SE        |   4245510 | NS      | $45298106.46  | 2.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Magnit PJSC                    | Magnit PJSC                               | CUSIP: 55953Q202<br>LEI: 2534009KKPTVL99W2Y12 | Long             | EC               | CORP              | RU        |         1 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Experian PLC                   | Experian PLC                              | CUSIP: 000000000<br>LEI: 635400RXXHHYT1JTSZ26 | Long             | EC               | CORP              | IE        |    948058 | NS      | $32109146.22  | 1.52%             |  |  |  | No            |                  2 | On Loan: No      |
| SAP SE                         | SAP SE                                    | CUSIP: 000000000<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |    459891 | NS      | $47479485.95  | 2.25%             |  |  |  | No            |                  2 | On Loan: No      |
| DSV A/S                        | DSV A/S                                   | CUSIP: 000000000<br>LEI: 529900X41C0BSLK67H70 | Long             | EC               | CORP              | DK        |    212204 | NS      | $33557346.18  | 1.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Cie Financiere Richemont SA    | Cie Financiere Richemont SA               | CUSIP: 000000000<br>LEI: 549300YIPGJ6UX2QPS51 | Long             | EC               | CORP              | CH        |    338778 | NS      | $43925942.66  | 2.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Edenred                        | Edenred                                   | CUSIP: 000000000<br>LEI: 9695006LOD5B2D7Y0N70 | Long             | EC               | CORP              | FR        |    699995 | NS      | $38097508.59  | 1.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Constellation Software Inc/Can | Constellation Software Inc/Canada         | CUSIP: 21037X100<br>LEI: 549300B6PYHMCTDWQV29 | Long             | EC               | CORP              | CA        |     17922 | NS      | $27981086.50  | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Rational AG                    | Rational AG                               | CUSIP: 000000000<br>LEI: 529900K139N6UFJ1A758 | Long             | EC               | CORP              | DE        |     50619 | NS      | $30058943.89  | 1.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Nidec Corp                     | Nidec Corp                                | CUSIP: 000000000<br>LEI: 353800IF171MZTNL6Y31 | Long             | EC               | CORP              | JP        |    342500 | NS      | $17624758.81  | 0.83%             |  |  |  | No            |                  2 | On Loan: No      |
| MMC Norilsk Nickel PJSC        | MMC Norilsk Nickel PJSC                   | CUSIP: 55315J102<br>LEI: 253400JPTEEW143W3E47 | Long             | EC               | CORP              | RU        |         1 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Kering SA                      | Kering SA                                 | CUSIP: 000000000<br>LEI: 549300VGEJKB7SVUZR78 | Long             | EC               | CORP              | FR        |     41919 | NS      | $21333749.42  | 1.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ASML Holding NV                | ASML Holding NV                           | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |     72928 | NS      | $39764145.93  | 1.88%             |  |  |  | No            |                  2 | On Loan: No      |
| PING AN                        | Ping An Insurance Group Co of China Ltd   | CUSIP: 000000000<br>LEI: 529900M9MC28JLN35U89 | Long             | EC               | CORP              | CN        |   3019000 | NS      | $19834061.27  | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| MMC Norilsk Nickel PJSC        | MMC Norilsk Nickel PJSC                   | CUSIP: 000000000<br>LEI: 253400JPTEEW143W3E47 | Long             | EC               | CORP              | RU        |     77386 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| MercadoLibre Inc               | MercadoLibre Inc                          | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | UY        |     82383 | NS      | $69715789.92  | 3.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Cochlear Ltd                   | Cochlear Ltd                              | CUSIP: 000000000<br>LEI: 5493001OLLWY8KV5UC08 | Long             | EC               | CORP              | AU        |     93693 | NS      | $12939698.94  | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Coupang Inc                    | Coupang Inc                               | CUSIP: 22266T109<br>LEI: 549300XR4L1D80AK4W76 | Long             | EC               | CORP              | KR        |   1188771 | NS      | $17486821.41  | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Futu Holdings Ltd              | Futu Holdings Ltd                         | CUSIP: 36118L106<br>LEI: 213800X4W4ZRESFPTQ37 | Long             | EC               | CORP              | HK        |    166054 | NS      | $6750095.10   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| FinecoBank Banca Fineco SpA    | FinecoBank Banca Fineco SpA               | CUSIP: 000000000<br>LEI: 549300L7YCATGO57ZE10 | Long             | EC               | CORP              | IT        |   2121533 | NS      | $35230433.70  | 1.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Chr Hansen Holding A/S         | Chr Hansen Holding A/S                    | CUSIP: 000000000<br>LEI: 549300MKPW8ZF3E8MW37 | Long             | EC               | CORP              | DK        |    308964 | NS      | $22224644.42  | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Dassault Systemes SE           | Dassault Systemes SE                      | CUSIP: 000000000<br>LEI: 96950065LBWY0APQIM86 | Long             | EC               | CORP              | FR        |    908312 | NS      | $32662599.48  | 1.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Kone Oyj                       | Kone Oyj                                  | CUSIP: 000000000<br>LEI: 2138001CNF45JP5XZK38 | Long             | EC               | CORP              | FI        |    578022 | NS      | $29925215.50  | 1.42%             |  |  |  | No            |                  2 | On Loan: No      |
| CRH PLC                        | CRH PLC                                   | CUSIP: 000000000<br>LEI: 549300MIDJNNTH068E74 | Long             | EC               | CORP              | IE        |   1067791 | NS      | $42492481.97  | 2.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Meituan                        | Meituan                                   | CUSIP: 000000000<br>LEI: 21380033K525E5JLIA77 | Long             | EC               | CORP              | CN        |   1254400 | NS      | $27792279.70  | 1.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Aker Carbon Capture ASA        | Aker Carbon Capture ASA                   | CUSIP: 000000000<br>LEI: 549300JXF011KX2HXT02 | Long             | EC               | CORP              | NO        |  10538898 | NS      | $12368926.73  | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Copa Holdings SA               | Copa Holdings SA                          | CUSIP: 000000000<br>LEI: 529900BB9UQJV6QQHA59 | Long             | EC               | CORP              | PA        |    261085 | NS      | $21714439.45  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Sony Group Corp                | Sony Group Corp                           | CUSIP: 000000000<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |    475400 | NS      | $36235758.57  | 1.71%             |  |  |  | No            |                  2 | On Loan: No      |
| Epiroc AB                      | Epiroc AB                                 | CUSIP: 000000000<br>LEI: 5493004Q73OEYW1SPE91 | Long             | EC               | CORP              | SE        |   2107418 | NS      | $33902452.85  | 1.60%             |  |  |  | No            |                  2 | On Loan: No      |
| Kingspan Group PLC             | Kingspan Group PLC                        | CUSIP: 000000000<br>LEI: 635400HM7V74SUB9OG75 | Long             | EC               | CORP              | IE        |    604072 | NS      | $32706838.19  | 1.55%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-22

**Name of Applicant:** Baillie Gifford Funds

**Signature:** Lindsay Cockburn

**Name of Signer:** Lindsay Cockburn

**Title:** Treasurer