Baillie Gifford & Co. 13F holdings and portfolio analysis
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Baseline
분석 메시지이 펀드에 대한 사전 생성된 Q&A. 자신의 분석을 위한 참조 컨텍스트로 사용하세요.
Following Baseline means accepting the manager's disclosed sizing almost directly. Here that means moderate concentration rather than broad index-like exposure: top 5 27.02%, top 10 44.17%, top 20 62.95%, with NVDA 6.92%, MELI 5.93%, AMZN 5.74%, SHOP 4.25%, SE 4.18%, SPOT 4.09%. The baseline result is return 14.44%, alpha 3.52%, beta 0.82, Sharpe 0.85, Sortino 1.11, max drawdown -33.47%. That is the right reference case, but it is not automatically the safest case because the largest names and sector mix (Consumer Discretionary 28.81%, Information Technology 27.00%, Communication Services 14.93%, Health Care 9.65%) still dominate the realized path.
The period rows show the character of the baseline. The strongest relative period was 2024-12-31 (-1.27% vs SPY -3.63%, excess 2.35%, turnover 11.70%); the weakest was 2025-03-31 (2.77% vs SPY 9.22%, excess -6.45%, turnover 13.11%). The latest rows (2025-03-31 (2.77% vs SPY 9.22%, excess -6.45%, turnover 13.11%); 2025-06-30 (-1.22% vs SPY 4.20%, excess -5.42%, turnover 10.56%); 2025-09-30 (0.44% vs SPY 1.49%, excess -1.05%, turnover 8.43%)) show whether recent results are confirming or reversing the long-term profile.
Before accepting Baseline, I would inspect three things: whether NVDA 6.92%, MELI 5.93%, AMZN 5.74%, SHOP 4.25% still have current theses, whether recent changes such as no large named moves and no large named moves indicate a shift, and whether max drawdown of -33.47% is acceptable for the user's risk budget.