# EDGAR Filing Document

**Accession Number:** 0001120543
**File Stem:** 0001752724-25-205094
**Filing Date:** 2025-8
**Character Count:** 29787
**Document Hash:** 7d41b98304a6856c9fd297b092394484
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-205094.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0001752724-25-205094

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BAILLIE GIFFORD FUNDS
- **CENTRAL INDEX KEY:** 0001120543

**ORGANIZATION NAME:**
- **EIN:** 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:** 251255623

**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:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**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:** $2297297457.16

**Total Liabilities:** $4710728.44

**Net Assets:** $2292586728.72

**Cash Not Reported:** $33146557.22

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000186029 | 4.98%                | 5.68%                | 2.58%                |
| Class ID C000034446 | 4.92%                | 5.70%                | 2.60%                |
| Class ID C000034445 | 4.92%                | 5.70%                | 2.59%                |
| Class ID C000116266 | 4.93%                | 5.71%                | 2.61%                |
| Class ID C000186028 | 4.93%                | 5.69%                | 2.56%                |
| Class ID C000078438 | 4.92%                | 5.70%                | 2.60%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1.37                   | $103166578.75                              |
| Month 2  | $33382007.13             | $85688985.81                               |
| Month 3  | $5764380.05              | $48022157.67                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Sandoz Group AG                | Sandoz Group AG                           | CUSIP: 000000000<br>LEI: 5493000JWK6XWFEUD320 | Long             | EC               | CORP              | CH        |    454860 | NS      | $24927864.93  | 1.09%             |  |  |  | No            |                  2 | On Loan: No      |
| ICICI Lombard General Insuranc | ICICI Lombard General Insurance Co Ltd    | CUSIP: 000000000<br>LEI: 335800ZZITZ7ZZZ2ZX87 | Long             | EC               | CORP              | IN        |    983952 | NS      | $23409627.22  | 1.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Scout24 SE                     | Scout24 SE                                | CUSIP: 000000000<br>LEI: 5493007EIKM2ENQS7U66 | Long             | EC               | CORP              | DE        |    422508 | NS      | $58326736.62  | 2.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Meituan                        | Meituan                                   | CUSIP: 000000000<br>LEI: 21380033K525E5JLIA77 | Long             | EC               | CORP              | CN        |   1131100 | NS      | $18194921.47  | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Boerse AG             | Deutsche Boerse AG                        | CUSIP: 000000000<br>LEI: 529900G3SW56SHYNPR95 | Long             | EC               | CORP              | DE        |    186510 | NS      | $60930867.58  | 2.66%             |  |  |  | No            |                  2 | On Loan: No      |
| HDFC Bank Ltd                  | HDFC Bank Ltd                             | CUSIP: 000000000<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |   1810031 | NS      | $42256010.64  | 1.84%             |  |  |  | No            |                  2 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitt | LVMH Moet Hennessy Louis Vuitton SE       | CUSIP: 000000000<br>LEI: IOG4E947OATN0KJYSD45 | Long             | EC               | CORP              | FR        |     34539 | NS      | $18077021.06  | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Roche Holding AG               | Roche Holding AG                          | CUSIP: 000000000<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |     84916 | NS      | $27718271.20  | 1.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Sartorius Stedim Biotech       | Sartorius Stedim Biotech                  | CUSIP: 000000000<br>LEI: 52990006IVXY7GCSSR39 | Long             | EC               | CORP              | FR        |     55929 | NS      | $13381708.51  | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| FANUC Corp                     | FANUC Corp                                | CUSIP: 000000000<br>LEI: 529900QTSW745LOKW705 | Long             | EC               | CORP              | JP        |    445800 | NS      | $12102261.04  | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Ryanair Holdings PLC           | Ryanair Holdings PLC                      | CUSIP: 783513203<br>LEI: 635400BR2ROC1FVEBQ56 | Long             | EC               | CORP              | IE        |   1012329 | NS      | $58381013.43  | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Discovery Ltd                  | Discovery Ltd                             | CUSIP: 000000000<br>LEI: 378900245A26169C8132 | Long             | EC               | CORP              | ZA        |   2659687 | NS      | $32332323.83  | 1.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Reliance Industries Ltd        | Reliance Industries Ltd                   | CUSIP: 000000000<br>LEI: 5493003UOETFYRONLG31 | Long             | EC               | CORP              | IN        |   1434689 | NS      | $25111677.08  | 1.10%             |  |  |  | No            |                  2 | On Loan: No      |
| CRH PLC                        | CRH PLC                                   | CUSIP: 000000000<br>LEI: 549300MIDJNNTH068E74 | Long             | EC               | CORP              | US        |    545498 | NS      | $50354764.69  | 2.20%             |  |  |  | No            |                  2 | On Loan: No      |
| IMCD NV                        | IMCD NV                                   | CUSIP: 000000000<br>LEI: 724500NSJPNFJPDAUP02 | Long             | EC               | CORP              | NL        |    184707 | NS      | $24842236.02  | 1.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Lumine Group Inc               | Lumine Group Inc                          | CUSIP: 55027C106<br>LEI: 984500E3C44B9D44M738 | Long             | EC               | CORP              | CA        |    716008 | NS      | $25149008.73  | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Shimano Inc                    | Shimano Inc                               | CUSIP: 000000000<br>LEI: 529900L32YT3P9DECR10 | Long             | EC               | CORP              | JP        |    195300 | NS      | $28314681.22  | 1.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Kaspi.KZ JSC                   | Kaspi.KZ JSC                              | CUSIP: 48581R205<br>LEI: 2549003YU6FARG8OAZ13 | Long             | EC               | CORP              | KZ        |    221507 | NS      | $18803729.23  | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Olympus Corp                   | Olympus Corp                              | CUSIP: 000000000<br>LEI: 5299000Y52IFDI1I2A21 | Long             | EC               | CORP              | JP        |   1221600 | NS      | $14510559.46  | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| MIPS AB                        | MIPS AB                                   | CUSIP: 000000000<br>LEI: 549300LZSA4S0L54VQ25 | Long             | EC               | CORP              | SE        |    206167 | NS      | $9660854.63   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Money Forward Inc              | Money Forward Inc                         | CUSIP: 000000000<br>LEI: 35380017JS3GIGP6WN95 | Long             | EC               | CORP              | JP        |    522900 | NS      | $17747167.81  | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| TFI International Inc          | TFI International Inc                     | CUSIP: 87241L109<br>LEI: 5493007R9W7KO7SJN678 | Long             | EC               | CORP              | CA        |    135820 | NS      | $12192132.77  | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Unicharm Corp                  | Unicharm Corp                             | CUSIP: 000000000<br>LEI: 353800UQ4BZIJTAQEG85 | Long             | EC               | CORP              | JP        |   2769000 | NS      | $19994364.55  | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| Unilever PLC                   | Unilever PLC                              | CUSIP: 000000000<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               | CORP              | GB        |    516534 | NS      | $31522137.80  | 1.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Keyence Corp                   | Keyence Corp                              | CUSIP: 000000000<br>LEI: 529900M7PQBS7A89DZ11 | Long             | EC               | CORP              | JP        |     43000 | NS      | $17192616.61  | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| BioNTech SE                    | BioNTech SE                               | CUSIP: 09075V102<br>LEI: 894500UZJ5LG1F8J1U58 | Long             | EC               | CORP              | DE        |    102312 | NS      | $10893158.64  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| PDD Holdings Inc               | PDD Holdings Inc                          | CUSIP: 722304102<br>LEI: 5493000573DS7005T657 | Long             | EC               | CORP              | IE        |     95323 | NS      | $9976505.18   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| B3 SA - Brasil Bolsa Balcao    | B3 SA - Brasil Bolsa Balcao               | CUSIP: 000000000<br>LEI: 4GTK5S46E6H318LMDS44 | Long             | EC               | CORP              | BR        |   1363500 | NS      | $3648983.09   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Dassault Systemes SE           | Dassault Systemes SE                      | CUSIP: 000000000<br>LEI: 96950065LBWY0APQIM86 | Long             | EC               | CORP              | FR        |    666779 | NS      | $24165156.73  | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Copa Holdings SA               | Copa Holdings SA                          | CUSIP: 000000000<br>LEI: 529900BB9UQJV6QQHA59 | Long             | EC               | CORP              | PA        |    147082 | NS      | $16174607.54  | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Edenred SE                     | Edenred SE                                | CUSIP: 000000000<br>LEI: 9695006LOD5B2D7Y0N70 | Long             | EC               | CORP              | FR        |    917229 | NS      | $28489603.34  | 1.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Cie Financiere Richemont SA    | Cie Financiere Richemont SA               | CUSIP: 000000000<br>LEI: 549300YIPGJ6UX2QPS51 | Long             | EC               | CORP              | CH        |    129761 | NS      | $24555047.31  | 1.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Tencent Holdings Ltd           | Tencent Holdings Ltd                      | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | CN        |   1153500 | NS      | $74326480.58  | 3.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Experian PLC                   | Experian PLC                              | CUSIP: 000000000<br>LEI: 635400RXXHHYT1JTSZ26 | Long             | EC               | CORP              | IE        |    714252 | NS      | $36831302.51  | 1.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Technoprobe SpA                | Technoprobe SpA                           | CUSIP: 000000000<br>LEI: 8156007154CD8334D053 | Long             | EC               | CORP              | IT        |   1263048 | NS      | $11043844.00  | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Constellation Software Inc/Can | Constellation Software Inc/Canada         | CUSIP: 21037X100<br>LEI: 549300B6PYHMCTDWQV29 | Long             | EC               | CORP              | CA        |      9216 | NS      | $33792789.57  | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Kweichow Moutai Co Ltd         | Kweichow Moutai Co Ltd                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     68700 | NS      | $13537151.03  | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Demant A/S                     | Demant A/S                                | CUSIP: 000000000<br>LEI: 213800RM6L9LN78BVA56 | Long             | EC               | CORP              | DK        |    573940 | NS      | $23980107.94  | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Topicus.com Inc                | Topicus.com Inc                           | CUSIP: 89072T102<br>LEI: N/A                  | Long             | EC               | CORP              | NL        |    261207 | NS      | $32725923.46  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| GMK Norilskiy Nickel PAO       | GMK Norilskiy Nickel PAO                  | CUSIP: 000000000<br>LEI: 253400JPTEEW143W3E47 | Long             | EC               | CORP              | RU        |   7738600 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Shopify Inc                    | Shopify Inc                               | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |    215401 | NS      | $24846505.35  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CONSTELLATION SOFTWARE INC     | Constellation Software Inc/Canada         | CUSIP: 21037X134<br>LEI: 549300B6PYHMCTDWQV29 | Long             | EC               | CORP              | CA        |     16097 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MonotaRO Co Ltd                | MonotaRO Co Ltd                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |   1286600 | NS      | $25327821.12  | 1.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Kingspan Group PLC             | Kingspan Group PLC                        | CUSIP: 000000000<br>LEI: 635400HM7V74SUB9OG75 | Long             | EC               | CORP              | IE        |    456354 | NS      | $38885647.74  | 1.70%             |  |  |  | No            |                  2 | On Loan: No      |
| Stella-Jones Inc               | Stella-Jones Inc                          | CUSIP: 85853F105<br>LEI: 5493007LOVNNLYJ6KZ35 | Long             | EC               | CORP              | CA        |    224732 | NS      | $12953342.89  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| AIA Group Ltd                  | AIA Group Ltd                             | CUSIP: 000000000<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |   3548800 | NS      | $32146604.95  | 1.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Danone SA                      | Danone SA                                 | CUSIP: 000000000<br>LEI: 969500KMUQ2B6CBAF162 | Long             | EC               | CORP              | FR        |    551803 | NS      | $45150361.93  | 1.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Monday.com Ltd                 | Monday.com Ltd                            | CUSIP: 000000000<br>LEI: 984500MDAFVD86E3B328 | Long             | EC               | CORP              | IL        |     43104 | NS      | $13555345.92  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto PLC                  | Rio Tinto PLC                             | CUSIP: 000000000<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |    579861 | NS      | $33750296.66  | 1.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Novo Nordisk A/S               | Novo Nordisk A/S                          | CUSIP: 000000000<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |    226208 | NS      | $15674868.46  | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Adyen NV                       | Adyen NV                                  | CUSIP: 000000000<br>LEI: 724500973ODKK3IFQ447 | Long             | EC               | CORP              | NL        |     22063 | NS      | $40519522.33  | 1.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Midea Group Co Ltd             | Midea Group Co Ltd                        | CUSIP: 000000000<br>LEI: 3003003TRPHLHZD2IF61 | Long             | EC               | CORP              | CN        |   3164600 | NS      | $31931382.31  | 1.39%             |  |  |  | No            |                  2 | On Loan: No      |
| DSV A/S                        | DSV A/S                                   | CUSIP: 000000000<br>LEI: 529900X41C0BSLK67H70 | Long             | EC               | CORP              | DK        |    226966 | NS      | $54438781.03  | 2.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Amadeus IT Group SA            | Amadeus IT Group SA                       | CUSIP: 000000000<br>LEI: 9598004A3FTY3TEHHN09 | Long             | EC               | CORP              | ES        |    436303 | NS      | $36860202.98  | 1.61%             |  |  |  | No            |                  2 | On Loan: No      |
| SAP SE                         | SAP SE                                    | CUSIP: 000000000<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |    185622 | NS      | $56759395.48  | 2.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Recruit Holdings Co Ltd        | Recruit Holdings Co Ltd                   | CUSIP: 000000000<br>LEI: 353800R2LRSMVVC4I806 | Long             | EC               | CORP              | JP        |    332600 | NS      | $19559088.12  | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| EXOR NV                        | EXOR NV                                   | CUSIP: 000000000<br>LEI: 5493002ENHZ6NYET7405 | Long             | EC               | CORP              | NL        |    208801 | NS      | $21077945.03  | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| Rational AG                    | Rational AG                               | CUSIP: 000000000<br>LEI: 529900K139N6UFJ1A758 | Long             | EC               | CORP              | DE        |     23503 | NS      | $19749530.75  | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| Tencent Music Entertainment Gr | Tencent Music Entertainment Group         | CUSIP: 88034P109<br>LEI: 213800XTZK2GOHQTYK41 | Long             | EC               | CORP              | CN        |   2181368 | NS      | $42514862.32  | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Nintendo Co Ltd                | Nintendo Co Ltd                           | CUSIP: 000000000<br>LEI: 353800FEEXU6I9M0ZF27 | Long             | EC               | CORP              | JP        |    282300 | NS      | $27109224.10  | 1.18%             |  |  |  | No            |                  2 | On Loan: No      |
| TSMC                           | Taiwan Semiconductor Manufacturing Co Ltd | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |   2902000 | NS      | $106124265.60 | 4.63%             |  |  |  | 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      |
| PING AN                        | Ping An Insurance Group Co of China Ltd   | CUSIP: 000000000<br>LEI: 529900M9MC28JLN35U89 | Long             | EC               | CORP              | CN        |   2164000 | NS      | $13813502.60  | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| Atlas Copco AB                 | Atlas Copco AB                            | CUSIP: 000000000<br>LEI: 213800T8PC8Q4FYJZR07 | Long             | EC               | CORP              | SE        |   2510599 | NS      | $35732319.92  | 1.56%             |  |  |  | No            |                  2 | On Loan: No      |
| MercadoLibre Inc               | MercadoLibre Inc                          | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | UY        |     37119 | NS      | $97015331.97  | 4.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Silergy Corp                   | Silergy Corp                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    947000 | NS      | $11535629.10  | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Coupang Inc                    | Coupang Inc                               | CUSIP: 22266T109<br>LEI: 549300XR4L1D80AK4W76 | Long             | EC               | CORP              | US        |    944130 | NS      | $28286134.80  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Sea Ltd                        | Sea Ltd                                   | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               | CORP              | SG        |    218375 | NS      | $34926897.50  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| FinecoBank Banca Fineco SpA    | FinecoBank Banca Fineco SpA               | CUSIP: 000000000<br>LEI: 549300L7YCATGO57ZE10 | Long             | EC               | CORP              | IT        |   1914297 | NS      | $42465887.80  | 1.85%             |  |  |  | No            |                  2 | On Loan: No      |
| B&M European Value Retail SA   | B&M European Value Retail SA              | CUSIP: 000000000<br>LEI: 213800UK7ZRLY2K1X530 | Long             | EC               | CORP              | GB        |   2946461 | NS      | $10973840.57  | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Nihon M&A Center Holdings Inc  | Nihon M&A Center Holdings Inc             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |   4180300 | NS      | $21189462.74  | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| Kone Oyj                       | Kone Oyj                                  | CUSIP: 000000000<br>LEI: 2138001CNF45JP5XZK38 | Long             | EC               | CORP              | FI        |    320642 | NS      | $21124127.26  | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| Spotify Technology SA          | Spotify Technology SA                     | CUSIP: 000000000<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | SE        |     38398 | NS      | $29464321.32  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexans SA                      | Nexans SA                                 | CUSIP: 000000000<br>LEI: 96950015FU78G84UIV14 | Long             | EC               | CORP              | FR        |    106207 | NS      | $13898150.85  | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| ASML Holding NV                | ASML Holding NV                           | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |     37693 | NS      | $30204789.34  | 1.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Novonesis Novozymes B          | Novonesis Novozymes B                     | CUSIP: 000000000<br>LEI: 529900T6WNZXD2R3JW38 | Long             | EC               | CORP              | DK        |    517503 | NS      | $37155102.12  | 1.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Sony Group Corp                | Sony Group Corp                           | CUSIP: 000000000<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |   1775600 | NS      | $46166179.32  | 2.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electronics Co Ltd     | Samsung Electronics Co Ltd                | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |   1013360 | NS      | $44812422.32  | 1.95%             |  |  |  | No            |                  2 | On Loan: No      |
| SMC Corp                       | SMC Corp                                  | CUSIP: 000000000<br>LEI: 353800O40V08DOZ70X62 | Long             | EC               | CORP              | JP        |     44400 | NS      | $15911291.73  | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-25

**Name of Applicant:** Baillie Gifford Funds

**Signature:** Lindsay Cockburn

**Name of Signer:** Lindsay Cockburn

**Title:** Treasurer