# EDGAR Filing Document

**Accession Number:** 0001120543
**File Stem:** 0000940400-26-020572
**Filing Date:** 2026-5
**Character Count:** 31743
**Document Hash:** 53433dc68f628735ec157937a9a356c0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-020572.hdr.sgml**: 20260521

**ACCESSION NUMBER**: 0000940400-26-020572

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260521

**DATE AS OF CHANGE**: 20260521

**PERIOD START**: 20261231

**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:** 261007817

**BUSINESS ADDRESS:**
- **STREET 1:** 780 THIRD AVENUE
- **STREET 2:** 43RD FLOOR
- **CITY:** NEW
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 011441312752000

**MAIL ADDRESS:**
- **STREET 1:** 780 THIRD AVENUE
- **STREET 2:** 43RD FLOOR
- **CITY:** NEW
- **STATE:** NY
- **ZIP:** 10017

## Series and Classes Contracts Data

### Baillie Gifford China Equities Fund (Series ID: S000072288)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000228388 | Institutional Class | BGCBX           |
| C000228389 | Class K             | BGCDX           |

## Nport-Ex

**Portfolio of Investments**

March 31, 2026 (unaudited)

Baillie Gifford China Equities Fund

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **COMMON STOCKS — 99.7%** |  |  |
| CHINA — 98.1% |  |  |
| Advanced Micro-Fabrication Equipment, Inc. China, Class A | 991 | $44791 |
| Air China Ltd., Class H \* | 28000 | 16501 |
| Alibaba Group Holding Ltd. | 12500 | 195931 |
| Anhui Conch Cement Co., Ltd., Class H | 14500 | 39467 |
| Anker Innovations Technology Co., Ltd., Class A | 1710 | 27194 |
| ANTA Sports Products Ltd. | 3400 | 33237 |
| Atour Lifestyle Holdings Ltd. ADR | 915 | 33681 |
| BOE Technology Group Co., Ltd., Class A | 39700 | 22656 |
| BYD Co., Ltd., Class H | 5100 | 69724 |
| Centre Testing International Group Co., Ltd., Class A | 18700 | 38213 |
| China Construction Bank Corp., Class H | 73000 | 78783 |
| China Merchants Bank Co., Ltd., Class H | 16500 | 104845 |
| China Oilfield Services Ltd., Class H | 32000 | 36666 |
| China Yangtze Power Co., Ltd., Class A | 9600 | 37636 |
| Contemporary Amperex Technology Co., Ltd., Class A | 2665 | 157678 |
| DiDi Global, Inc. ADR \* | 5791 | 23801 |
| DPC Dash Ltd. \* | 1900 | 11582 |
| ENN Energy Holdings Ltd. | 3600 | 29313 |
| Fuyao Glass Industry Group Co., Ltd., Class H | 4800 | 36108 |
| Ganfeng Lithium Group Co., Ltd., Class H | 2000 | 18966 |
| H World Group Ltd. | 9900 | 50086 |
| Haidilao International Holding Ltd. | 6000 | 11045 |
| Haier Smart Home Co., Ltd., Class H | 11800 | 31612 |
| Horizon Robotics \* | 30000 | 25982 |
| Inner Mongolia Xingye Silver&Tin Mining Co., Ltd., Class A | 2300 | 13881 |
| Innovent Biologics, Inc. \* | 1500 | 16499 |
| Jiangsu Azure Corp., Class A | 17200 | 42155 |
| Kuaishou Technology | 4000 | 23561 |
| Kweichow Moutai Co., Ltd., Class A | 500 | 105292 |
| Laopu Gold Co., Ltd., Class H | 200 | 16191 |
| Luckin Coffee, Inc. ADR \* | 936 | 30046 |
| Luxshare Precision Industry Co., Ltd., Class A | 4800 | 35262 |
| Meituan, Class B \* | 4090 | 44631 |
| Midea Group Co., Ltd., Class A | 4900 | 54580 |
| Minth Group Ltd. | 4000 | 16710 |
| NAURA Technology Group Co., Ltd., Class A | 675 | 44390 |
| NetEase, Inc. | 2900 | 64800 |
| PDD Holdings, Inc. ADR \* | 833 | 85116 |
| PetroChina Co., Ltd., Class H | 36000 | 49387 |
| Ping An Insurance Group Co. of China Ltd., Class H | 17000 | 130717 |
| Pop Mart International Group Ltd. | 3200 | 59531 |
| SG Micro Corp., Class A | 2770 | 27495 |
| Shandong Sinocera Functional Material Co., Ltd., Class A | 10100 | 45509 |
| Shenzhen Inovance Technology Co., Ltd., Class A | 4700 | 46043 |
| Shenzhou International Group Holdings Ltd. | 4500 | 27496 |
| Silergy Corp. | 2000 | 18227 |
| Sungrow Power Supply Co., Ltd., Class A | 1960 | 43595 |
| Sunny Optical Technology Group Co., Ltd. | 3900 | 27192 |
| Tencent Holdings Ltd. | 5800 | 365820 |
| Tianqi Lithium Corp., Class H \* | 4200 | 24985 |
| Wanhua Chemical Group Co., Ltd., Class A | 2800 | 32543 |
| Weichai Power Co., Ltd., Class H | 14000 | 49647 |
| Yifeng Pharmacy Chain Co., Ltd., Class A | 5980 | 21206 |
| Zhejiang Sanhua Intelligent Controls Co., Ltd., Class A | 4100 | 25829 |
| Zhongji Innolight Co., Ltd., Class A | 500 | 42834 |
| Zijin Mining Group Co., Ltd., Class H | 18000 | 80973 |
|  |  | 2887641 |

---

See previously submitted notes to the financial statements for the year ended December 31, 2025.

**Portfolio of Investments**

March 31, 2026 (unaudited)

Baillie Gifford China Equities Fund

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| HONG KONG — 0.0% <sup>(a)</sup> |  |  |
| Zijin Gold International Co., Ltd. \* | 81 | $1844 |
| UNITED STATES — 1.6% |  |  |
| BeOne Medicines Ltd., Class H \* | 2091 | 46906 |
| **TOTAL INVESTMENTS — 99.7%** |  |  |
| (cost $2,564,579) |  | $2936391 |
| Other assets less liabilities — 0.3% |  | 9474 |
| **NET ASSETS — 100.0%** |  | $2945865 |

---

(a) Amount rounds to less than 0.1%.

\* Non-income producing security.

ADR — American Depositary Receipt

This report classifies issuers geographically by their country of risk. For compliance monitoring purposes, the Manager retains discretion to consider a number of factors in determining where a particular issuer is located, as described in further detail in each Fund's prospectus.

See previously submitted notes to the financial statements for the year ended December 31, 2025.

**Portfolio of Investments**

March 31, 2026 (unaudited)

Baillie Gifford China Equities Fund

**Fair Value Measurement**

GAAP provides guidance on fair value measurements and defines fair value as the price that a Fund would receive to sell an investment or pay to transfer a liability in a timely transaction with an independent buyer in the principal market, or in the absence of a principal market, the most advantageous market for the investment or liability. It establishes a single definition of fair value, creates a three-tier hierarchy as a framework for measuring fair value based on inputs used to value the Fund's investments, and requires additional disclosure about fair value. The hierarchy of inputs is summarized below:

Level 1 - unadjusted quoted prices in active markets for identical investments that the Fund has the ability to access.

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

Level 3 - significant unobservable inputs (including the Trust's own assumptions in determining the fair value of investments)

For Level 1 inputs, the Fund uses unadjusted quoted prices in active markets for assets or liabilities with sufficient frequency and volume to provide pricing information as the most reliable evidence of fair value.

The Fund's Level 2 valuation techniques include inputs other than quoted prices within Level 1 that are observable for an asset or liability, either directly or indirectly. This includes when a fair value adjustment is applied which seeks to reflect changes in foreign securities' market prices since the close of the market on which they are traded. Level 2 observable inputs may include quoted prices for similar assets and liabilities in active markets or quoted prices for identical or similar assets or liabilities in markets that are not active in which there are few transactions, the prices are not current, or price quotations vary substantially over time or among market participants. Inputs that are observable for the asset or liability in Level 2 include such factors as interest rates, yield curves, prepayment speeds, credit risk, and default rates for similar liabilities.

For Level 3 valuation techniques, the Fund uses unobservable inputs that reflect assumptions market participants would be expected to use in pricing the asset or liability. Unobservable inputs are used to measure fair value to the extent that observable inputs are not available and are developed based on the best information available under the circumstances. In developing unobservable inputs, market participant assumptions are used if they are reasonably available without undue cost and effort.

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used as of March 31, 2026 in valuing the Fund's investments carried at fair value:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Investments in Securities | Level 1 | Level 2 | Level 3 | Total |
| Common Stocks<sup>\*\*</sup> | $184226 | $2752165 | $— | $2936391 |
| **Total** | $184226 | $2752165 | $— | $2936391 |

---

\*\* Refer to Portfolio of Investments for further detail.

See previously submitted notes to the financial statements for the year ended December 31, 2025.

## 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 China Equities Fund

- **b. EDGAR series identifier (if any):** S000072288

- **c. LEI of Series:** 213800KECP1DXAWGUY59

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $2967116.19

**Total Liabilities:** $21751.02

**Net Assets:** $2945365.17

**Cash Not Reported:** $40234.32

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000228389 | 3.47%                | -2.51%               | -6.88%               |
| Class ID C000228388 | 3.48%                | -2.52%               | -6.90%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-40332.84               | $147676.35                                 |
| Month 2  | $44998.75                | $-122552.91                                |
| Month 3  | $-7934.20                | $-211359.57                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| China Oilfield Services Ltd.                    | China Oilfield Services Ltd. 'H'CNY1                     | CUSIP: 000000000<br>LEI: 529900J4X53VL8QQW675 | Long             | EC               | CORP              | CN        |     32000 | NS      | $36665.55     | 1.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Meituan LLC                                     | Meituan LLC USD0.00001 B CLASS                           | CUSIP: 000000000<br>LEI: 21380033K525E5JLIA77 | Long             | EC               | CORP              | KY        |      4090 | NS      | $44631.11     | 1.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Kuaishou Technology                             | Kuaishou Technology USD0.0000053 B CLASS                 | CUSIP: 000000000<br>LEI: 300300FCDZBE6UP9ED24 | Long             | EC               | CORP              | KY        |      4000 | NS      | $23561.30     | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| POP MART INTERNATIONAL GROUP LTD                | Pop Mart International Group Limited USD0.0001           | CUSIP: 000000000<br>LEI: 9845000A05E8F937E337 | Long             | EC               | CORP              | KY        |      2600 | NS      | $48368.72     | 1.64%             |  |  |  | No            |                  2 | On Loan: No      |
| BEONE MEDICINES LTD                             | BeOne Medicines Ltd. USD0.0001 (SWITZERLAND)             | CUSIP: 000000000<br>LEI: 549300JFUK6FRD5MH739 | Long             | EC               | CORP              | CH        |      2091 | NS      | $46906.18     | 1.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Contemporary Amperex Technology Co Ltd.         | Contemporary Amperex Technology Co Ltd. 'A' CNY1         | CUSIP: 000000000<br>LEI: 300300KINDY1K0E9I032 | Long             | EC               | CORP              | CN        |      2665 | NS      | $157677.56    | 5.35%             |  |  |  | No            |                  2 | On Loan: No      |
| MINTH GROUP LTD                                 | Minth Group Ltd. HKD0.1                                  | CUSIP: 000000000<br>LEI: 254900B2AH0G13K9G204 | Long             | EC               | CORP              | KY        |      4000 | NS      | $16710.20     | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Wanhua Chemical Group Co Ltd.                   | Wanhua Chemical Group Co Ltd. 'A'CNY1                    | CUSIP: 000000000<br>LEI: 3003002H0G2KDG6CR124 | Long             | EC               | CORP              | CN        |      2800 | NS      | $32543.38     | 1.10%             |  |  |  | No            |                  2 | On Loan: No      |
| SILERGY CORP                                    | Silergy Corporation TWD2.5                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      2000 | NS      | $18227.33     | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Fuyao Glass Industry Group Co Ltd.              | Fuyao Glass Industry Group Co Ltd. 'H' CNY1              | CUSIP: 000000000<br>LEI: 549300AS5CSLWETN0P64 | Long             | EC               | CORP              | CN        |      4800 | NS      | $36107.80     | 1.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Luxshare Precision Industry Co Ltd.             | Luxshare Precision Industry Co Ltd. 'A'CNY1              | CUSIP: 000000000<br>LEI: 300300QLLDUELXN16530 | Long             | EC               | CORP              | CN        |      4800 | NS      | $35262.39     | 1.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Zhejiang Sanhua Intelligent Controls Co Ltd.    | Zhejiang Sanhua Intelligent Controls Co Ltd. 'A'CNY1     | CUSIP: 000000000<br>LEI: 8368003UTQ4F88XERZ23 | Long             | EC               | CORP              | CN        |      4100 | NS      | $25828.91     | 0.88%             |  |  |  | No            |                  2 | On Loan: No      |
| Weichai Power Co Ltd.                           | Weichai Power Co Ltd. 'H'CNY1                            | CUSIP: 000000000<br>LEI: 529900OKTPKBG85F9502 | Long             | EC               | CORP              | CN        |     14000 | NS      | $49647.14     | 1.69%             |  |  |  | No            |                  2 | On Loan: No      |
| H WORLD GROUP LTD                               | H World Group Ltd. USD0.00001                            | CUSIP: 000000000<br>LEI: 549300Y5ML31FVN83730 | Long             | EC               | CORP              | KY        |      9900 | NS      | $50085.62     | 1.70%             |  |  |  | No            |                  2 | On Loan: No      |
| ANKER INNOVATIONS TECHNOLOGY CO LTD             | Anker Innovations Technology Co Ltd. A CNY1              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |      1710 | NS      | $27194.13     | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| INNER MONGOLIA XINGYE SILVER&TIN MINING CO LTD  | Inner Mongolia Xingye Silver&Tin Mining Co Ltd. 'A'CNY1  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |      2300 | NS      | $13880.84     | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| HORIZON ROBOTICS                                | Horizon Robotics Inc USD0.0000025 B CLASS                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     30000 | NS      | $25982.20     | 0.88%             |  |  |  | No            |                  2 | On Loan: No      |
| ALIBABA GROUP HOLDING LTD                       | Alibaba Group Holding Ltd. USD0.000003125                | CUSIP: 000000000<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |     12500 | NS      | $195931.12    | 6.65%             |  |  |  | No            |                  2 | On Loan: No      |
| INNOVENT BIOLOGICS INC                          | Innovent Biologics Inc. USD0.00001                       | CUSIP: 000000000<br>LEI: 25490058ONL9SCIE1R22 | Long             | EC               | CORP              | KY        |      1500 | NS      | $16499.35     | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| ADVANCED MICRO-FABRICATION EQUIPMENT INC        | Advanced Micro Fabrication Equipment Inc. A CNY1         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |       991 | NS      | $44790.58     | 1.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Anhui Conch Cement Co Ltd.                      | Anhui Conch Cement Co Ltd. 'H'CNY1                       | CUSIP: 000000000<br>LEI: 300300JVKW56SSAEQZ33 | Long             | EC               | CORP              | CN        |     14500 | NS      | $39466.71     | 1.34%             |  |  |  | No            |                  2 | On Loan: No      |
| ANTA SPORTS PRODUCTS LTD                        | ANTA Sports Products Ltd. HKD0.10                        | CUSIP: 000000000<br>LEI: 529900291XG0CTK4LF95 | Long             | EC               | CORP              | KY        |      3400 | NS      | $33237.28     | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Zijin Mining Group Co Ltd.                      | Zijin Mining Group Co Ltd. 'H'CNY0.1                     | CUSIP: 000000000<br>LEI: 836800JRNL2393Z2I561 | Long             | EC               | CORP              | CN        |     18000 | NS      | $80972.98     | 2.75%             |  |  |  | No            |                  2 | On Loan: No      |
| PDD HOLDINGS INC                                | PDD Holdings Inc. SPONSORED ADS                          | CUSIP: 722304102<br>LEI: 5493000573DS7005T657 | Long             | EC               | CORP              | KY        |       833 | NS      | $85115.94     | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Tianqi Lithium Corp.                            | Tianqi Lithium Corp. CNY1 H                              | CUSIP: 000000000<br>LEI: 300300IZ1J0MQ8YVEG66 | Long             | EC               | CORP              | CN        |      4200 | NS      | $24984.97     | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| HAIDILAO INTERNATIONAL HOLDING LTD              | Haidilao International Holding Ltd. USD0.000005          | CUSIP: 000000000<br>LEI: 3003009Q8GV4VNKZWI24 | Long             | EC               | CORP              | KY        |     18000 | NS      | $33134.98     | 1.12%             |  |  |  | No            |                  2 | On Loan: No      |
| TENCENT HOLDINGS LTD                            | Tencent Holdings Ltd. HKD0.00002                         | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |      5500 | NS      | $346898.10    | 11.78%            |  |  |  | No            |                  2 | On Loan: No      |
| SG MICRO CORP                                   | SG Micro Corp. A CNY1                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |      2770 | NS      | $27494.87     | 0.93%             |  |  |  | No            |                  2 | On Loan: No      |
| SHANDONG SINOCERA FUNCTIONAL MATERIAL CO LTD    | Shandong Sinocera Functional Materials Co Ltd. 'A'CNY1   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     10100 | NS      | $45509.29     | 1.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Centre Testing International Group Co Ltd.      | Centre Testing International Group Co Ltd. 'A'CNY1       | CUSIP: 000000000<br>LEI: 8368009FQ1ZOBVGD5Y61 | Long             | EC               | CORP              | CN        |     18700 | NS      | $38213.38     | 1.30%             |  |  |  | No            |                  2 | On Loan: No      |
| NAURA Technology Group Co Ltd.                  | NAURA Technology Group Co Ltd. 'A'CNY1                   | CUSIP: 000000000<br>LEI: 300300JI5I0B95GO5C39 | Long             | EC               | CORP              | CN        |       675 | NS      | $44390.21     | 1.51%             |  |  |  | No            |                  2 | On Loan: No      |
| ATOUR LIFESTYLE HOLDINGS LTD                    | Atour Lifestyle Holdings Ltd. SPONSORED ADS              | CUSIP: 04965M106<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |       915 | NS      | $33681.15     | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Sungrow Power Supply Co Ltd.                    | Sungrow Power Supply Co Ltd. 'A'CNY1                     | CUSIP: 000000000<br>LEI: 30030052IWC7RGVFG505 | Long             | EC               | CORP              | CN        |      1960 | NS      | $43594.71     | 1.48%             |  |  |  | No            |                  2 | On Loan: No      |
| KWEICHOW MOUTAI COMPANY LTD                     | Kweichow Moutai Co Ltd. 'A'CNY1                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |       500 | NS      | $105292.23    | 3.57%             |  |  |  | No            |                  2 | On Loan: No      |
| China Construction Bank Corp.                   | China Construction Bank Corp. 'H'CNY1                    | CUSIP: 000000000<br>LEI: 5493001KQW6DM7KEDR62 | Long             | EC               | CORP              | CN        |     73000 | NS      | $78782.65     | 2.67%             |  |  |  | No            |                  2 | On Loan: No      |
| BOE TECHNOLOGY GROUP CO LTD                     | BOE Technology Group Co Ltd. 'A'CNY1                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     39700 | NS      | $22656.12     | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| China Merchants Bank Co Ltd.                    | China Merchants Bank Co Ltd. 'H'CNY1                     | CUSIP: 000000000<br>LEI: 549300MKO5B60FFIHF58 | Long             | EC               | CORP              | CN        |     16500 | NS      | $104844.72    | 3.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Ping An Insurance (Group) Company of China Ltd. | Ping An Insurance (Group) Company of China Ltd. 'H' CNY1 | CUSIP: 000000000<br>LEI: 529900M9MC28JLN35U89 | Long             | EC               | CORP              | CN        |     17000 | NS      | $130716.64    | 4.44%             |  |  |  | No            |                  2 | On Loan: No      |
| DPC DASH LTD                                    | DPC Dash Ltd. USD1                                       | CUSIP: 000000000<br>LEI: 254900OG7TEI5GQICO05 | Long             | EC               | CORP              | VG        |      1900 | NS      | $11582.41     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| NETEASE INC                                     | NetEase Inc. USD0.0001                                   | CUSIP: 000000000<br>LEI: 5299004AF4DSJDB0PA32 | Long             | EC               | CORP              | KY        |      2900 | NS      | $64799.96     | 2.20%             |  |  |  | No            |                  2 | On Loan: No      |
| ENN ENERGY HOLDINGS LTD                         | ENN Energy Holdings Ltd. HKD0.10                         | CUSIP: 000000000<br>LEI: 549300V7BXPWT6WIPR03 | Long             | EC               | CORP              | KY        |      3600 | NS      | $29312.70     | 1.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Haier Smart Home Co Ltd.                        | Haier Smart Home Co Ltd. CNY1 H                          | CUSIP: 000000000<br>LEI: 3003002BYTNGNJTWSH07 | Long             | EC               | CORP              | CN        |     11800 | NS      | $31611.63     | 1.07%             |  |  |  | No            |                  2 | On Loan: No      |
| PetroChina Co Ltd.                              | PetroChina Co Ltd. 'H'CNY1                               | CUSIP: 000000000<br>LEI: 529900RPY4YG47TRSV05 | Long             | EC               | CORP              | CN        |     36000 | NS      | $49387.01     | 1.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Zhongji Innolight Co Ltd.                       | Zhongji Innolight Co Ltd. 'A'CNY1                        | CUSIP: 000000000<br>LEI: 655600K7YZDKAI214O83 | Long             | EC               | CORP              | CN        |       500 | NS      | $42834.54     | 1.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Yifeng Pharmacy Chain Co Ltd.                   | Yifeng Pharmacy Chain Co Ltd. 'A'CNY1                    | CUSIP: 000000000<br>LEI: 300300CZZIF44N1EZO06 | Long             | EC               | CORP              | CN        |      5980 | NS      | $21205.85     | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Luckin Coffee Inc                               | Luckin Coffee Inc SPONSORED ADS                          | CUSIP: 54951L109<br>LEI: 549300FO16ASCVSMYI15 | Long             | EC               | CORP              | KY        |       936 | NS      | $30045.60     | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Air China Ltd.                                  | Air China Ltd. 'H'CNY1                                   | CUSIP: 000000000<br>LEI: 213800I9TWC9K22N4502 | Long             | EC               | CORP              | CN        |     28000 | NS      | $16501.06     | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| SHENZHOU INTERNATIONAL GROUP HOLDINGS LTD       | Shenzhou International Group Holdings Ltd. HKD0.10       | CUSIP: 000000000<br>LEI: 529900B4W41TCUKJFM73 | Long             | EC               | CORP              | KY        |      4500 | NS      | $27495.84     | 0.93%             |  |  |  | No            |                  2 | On Loan: No      |
| Didi Global Inc                                 | Didi Global Inc SPONSORED ADS                            | CUSIP: 23292E108<br>LEI: 8368006Y2DHY77ADSY31 | Long             | EC               | CORP              | KY        |      5791 | NS      | $23801.01     | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Midea Group Co Ltd.                             | Midea Group Co Ltd. A CNY1                               | CUSIP: 000000000<br>LEI: 3003003TRPHLHZD2IF61 | Long             | EC               | CORP              | CN        |      4900 | NS      | $54580.50     | 1.85%             |  |  |  | No            |                  2 | On Loan: No      |
| BYD Co Ltd.                                     | BYD Co Ltd. 'H'CNY1                                      | CUSIP: 000000000<br>LEI: 5299005557VL7ULJ7A69 | Long             | EC               | CORP              | CN        |      5100 | NS      | $69723.82     | 2.37%             |  |  |  | No            |                  2 | On Loan: No      |
| SHENZHEN INOVANCE TECHNOLOGY CO LTD             | Shenzhen Inovance Technology Co Ltd. 'A'CNY1             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |      4700 | NS      | $46043.28     | 1.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Ganfeng Lithium Group Co Ltd.                   | Ganfeng Lithium Group Co Ltd. 'H' CNY1                   | CUSIP: 000000000<br>LEI: 3003006BE6UOHWEOOR42 | Long             | EC               | CORP              | CN        |      2000 | NS      | $18965.62     | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| JIANGSU AZURE CORP                              | Jiangsu Azure Corporation 'A'CNY1                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     17200 | NS      | $42155.51     | 1.43%             |  |  |  | No            |                  2 | On Loan: No      |
| SUNNY OPTICAL TECHNOLOGY (GROUP) CO LTD         | Sunny Optical Technology (Group) Co Ltd. HKD0.10         | CUSIP: 000000000<br>LEI: 3003004QIVP0DFVVWM94 | Long             | EC               | CORP              | KY        |      3900 | NS      | $27191.81     | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| ZIJIN GOLD INTERNATIONAL COMPANY LI             | ZIJIN GOLD INTERNATIONAL COMPANY LI NPV                  | CUSIP: 000000000<br>LEI: 254900FINUJR4MZ8A417 | Long             | EC               | CORP              | HK        |        81 | NS      | $1843.46      | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| China Yangtze Power Co Ltd.                     | China Yangtze Power Co Ltd. 'A'CNY1                      | CUSIP: 000000000<br>LEI: 3003008VX8JFJXA6QP74 | Long             | EC               | CORP              | CN        |      9600 | NS      | $37635.93     | 1.28%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-21

**Name of Applicant:** Baillie Gifford Funds

**Signature:** Lindsay Cockburn

**Name of Signer:** Lindsay Cockburn

**Title:** Treasurer