NPORT-P false 0001120543 XXXXXXXX S000061764 C000200020 C000200019 Baillie Gifford Funds 811-10145 0001120543 213800T287IYS8QHPC42 CALTON SQUARE, ONE GREENSIDE ROW EDINBURGH GB EH1 3AN 011-44-131-275-2000 Baillie Gifford The Multi Asset Fund S000061764 213800M3EX1HJQCVNM76 2020-04-30 2019-10-31 N 11062198.14 7536.53 11054661.61 0 0 0 0 0 0 0 0 0 0 0 0 0 944022.89 MYR JPY PEN MXN EGP IDR AUD EUR BRL USD N BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 000000000 1.00000000 NC USD -111443.02000000 -1.00810883165 N/A DFE CORP US N 2 BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 -1832569.00000000 GBP 2263341.54000000 USD 2019-11-13 -111443.02 N N N ICADE 969500UDH342QLTE1M42 000000000 470.00000000 NS 46023.96000000 0.416330789884 Long EC CORP FR N 1 N N N GENERAL ELECTRIC CO 3C7474T6CDKPR9K6YT90 36962GT95 15000.00000000 PA USD 17070.81000000 0.154421823138 Long DBT CORP US N 2 2026-01-05 Fixed 5.55000000 N N N N N N FORTIVE CORPORATION 549300MU9YQJYHDQEF63 34959JAG3 17000.00000000 PA USD 17494.29000000 0.158252605255 Long DBT CORP US N 2 2026-06-15 Fixed 3.15000000 N N N N N N WOLVERINE WORLD WIDE 549300OVC7PK14LQ8D87 978097AD5 8000.00000000 PA USD 8100.00000000 0.073272256408 Long DBT CORP US N 2 2026-09-01 Fixed 5.00000000 N N N N N N EUREX CLEARING AG 529900LN3S50JPU47S06 000000000 -1.00000000 NC 3966.30000000 0.035878981554 N/A DIR CORP DE N 1 EUREX CLEARING AG 529900LN3S50JPU47S06 Short FRANCE (GOVT OF) French Republic Government Bond OAT 2019-12-06 -188965.86 USD 3966.3 N N N ARAMARK SERVICES INC 42YMHYH0XMHJEXDUB065 038522AQ1 4000.00000000 PA USD 4185.00000000 0.037857332477 Long DBT CORP US N 2 2028-02-01 Fixed 5.00000000 N N N N N N BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 000000000 1.00000000 NC USD 1416.83000000 0.012816584079 N/A DFE CORP US N 2 BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 -269915.38000000 USD 3857000000.00000000 IDR 2020-01-23 1416.83 N N N TENET HEALTHCARE CORP 0W9AIBT6U6ADJ2I8HK17 88033GCS7 6000.00000000 PA USD 6180.00000000 0.055904017852 Long DBT CORP US N 2 2024-07-15 Fixed 4.62500000 N N N N N N BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 000000000 1.00000000 NC USD -1642.14000000 -0.01485472878 N/A DFE CORP US N 2 BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 -51373.74000000 USD 760000.00000000 ZAR 2020-01-23 -1642.14 N N N BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 000000000 1.00000000 NC USD -29469.17000000 -0.26657686177 N/A DFE CORP US N 2 BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 -1959000.00000000 EUR 2157231.21000000 USD 2019-11-13 -29469.17 N N N TerraForm Power Inc 549300V0USOOV31S6Z05 88104R209 2360.00000000 NS USD 40072.80000000 0.362496848965 Long EC CORP US N 1 N N N SIX FLAGS ENTERTAINMENT 549300JYTDUAA4JQ3717 83001AAB8 5000.00000000 PA USD 5162.50000000 0.046699756013 Long DBT CORP US N 2 2024-07-31 Fixed 4.87500000 N N N N N N JAPAN GOVT CPI LINKED 353800WZS8AXZXFUC241 000000000 34118410.00000000 PA 326512.96000000 2.953622385913 Long DBT NUSS JP N 2 2027-03-10 Fixed 0.10000000 N N N N N N BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 000000000 1.00000000 NC USD -3111.49000000 -0.02814640655 N/A DFE CORP US N 2 BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 -10030000.00000000 THB 329098.47000000 USD 2019-11-13 -3111.49 N N N TITULOS DE TESORERIA 549300MHDRBVRF6B9117 000000000 200600000.00000000 PA 63659.59000000 0.575861950784 Long DBT NUSS CO N 2 2032-06-30 Fixed 7.00000000 N N N N N N MERITOR INC 5LTG829X630QFHTFBO82 59001KAD2 5000.00000000 PA USD 5125.00000000 0.046360532604 Long DBT CORP US N 2 2024-02-15 Fixed 6.25000000 N N N N N N Barings 2018-2 B.V. 724500SLFTB3HP27GY46 000000000 110000.00000000 PA 122935.45000000 1.112068865941 Long ABS-CBDO CORP NL N 2 2031-10-15 Floating 1.70000000 N N N N N N British Land Co PLC/The RV5B68J2GV3QGMRPW209 000000000 25240.00000000 NS 202933.63000000 1.835729008805 Long EC CORP GB N 2 N N N BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 000000000 1.00000000 NC USD -6319.10000000 -0.05716231055 N/A DFE CORP US N 2 BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 -482642.70000000 USD 51400000.00000000 JPY 2019-11-13 -6319.1 N N N EGYPT TREASURY BILL 529900GFIVH4086NMH82 000000000 1450000.00000000 PA 89044.85000000 0.805495935935 Long DBT NUSS EG N 2 2019-11-26 None 0.00000000 N N N N N N Credit Suisse Managed Futures Strategy Fund 54930042UF6DI76LB586 22540S711 25800.00000000 NS USD 256452.00000000 2.319853913646 Long EC RF US N 1 N N N BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 000000000 1.00000000 NC USD 195.24000000 0.001766132758 N/A DFE CORP US N 2 BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 -49780.01000000 USD 19800000.00000000 KZT 2020-01-23 195.24 N N N JBS USA LLC/JBS USA FINA N/A 466112AR0 9000.00000000 PA USD 9348.75000000 0.084568395938 Long DBT CORP US N 2 2025-06-15 Fixed 5.75000000 N N N N N N BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 000000000 1.00000000 NC USD 3882.83000000 0.035123915475 N/A DFE CORP US N 2 BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 -2410000.00000000 ZAR 161584.34000000 USD 2020-01-23 3882.83 N N N BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 000000000 1.00000000 NC USD -13162.20000000 -0.11906470287 N/A DFE CORP US N 2 BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 -448340.22000000 USD 4000000.00000000 NOK 2020-01-23 -13162.2 N N N SPRINT CORP 549300ZTTY7CXOLJ6539 85207UAK1 4000.00000000 PA USD 4425.00000000 0.040028362297 Long DBT CORP US N 2 2026-03-01 Fixed 7.62500000 N N N N N N Merlin Properties Socimi SA 959800L8KD863DP30X04 000000000 1900.00000000 NS 27969.57000000 0.253011543787 Long EC CORP ES N 2 N N N SEALED AIR CORP Q0M0CZB4YN6JZ65WXI09 81211KAX8 9000.00000000 PA USD 9810.00000000 0.088740843872 Long DBT CORP US N 2 2025-09-15 Fixed 5.50000000 N N N N N N STARS GRP HLDS/STARS GRP N/A 85572NAA6 7000.00000000 PA USD 7551.25000000 0.068308287186 Long DBT CORP NL N 2 2026-07-15 Fixed 7.00000000 N N N N N N HLF FIN SARL LLC/HERBALI N/A 40390DAA3 6000.00000000 PA USD 6270.00000000 0.056718154034 Long DBT CORP US N 2 2026-08-15 Fixed 7.25000000 N N N N N N ASPECT CORE TREND FUND N/A 000000000 2741.34530000 NS USD 269638.72000000 2.439140423403 Long EC RF US N 1 N N N MATCH GROUP INC 549300BIJKT86CPCKK96 57665RAJ5 2000.00000000 PA USD 2142.50000000 0.019380964117 Long DBT CORP US N 2 2029-02-15 Fixed 5.62500000 N N N N N N BOOKING HOLDINGS INC FXM8FAOHMYDIPD38UZ17 741503AZ9 17000.00000000 PA USD 18347.15000000 0.165967540638 Long DBT CORP US N 2 2026-06-01 Fixed 3.60000000 N N N N N N BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 000000000 1.00000000 NC USD -4504.23000000 -0.04074507351 N/A DFE CORP US N 2 BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 -621000.00000000 CHF 625591.84000000 USD 2019-11-13 -4504.23 N N N WP CAREY INC 54930042CRNE713E3Q67 92936UAE9 17000.00000000 PA USD 18354.40000000 0.166033123830 Long DBT CORP US N 2 2026-10-01 Fixed 4.25000000 N N N N N N BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 000000000 1.00000000 NC USD 3871.08000000 0.035017625473 N/A DFE CORP US N 2 BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 -189000.00000000 EUR 215908.31000000 USD 2020-01-23 3871.08 N N N Baillie Gifford Funds - US Equity Growth Fund 213800X8E29HVPS4SU17 056823289 19082.36800000 NS USD 320583.78000000 2.899987275141 Long EC RF US N 1 N N N TESLA ENERGY OPERATIONS 54930035YLO0PKMDT602 83416TAC4 7000.00000000 PA USD 6995.58000000 0.063281719936 Long DBT CORP US N 2 2019-11-01 Fixed 1.62500000 N N N N N Tesla Inc USD XXXX N N N TREASURY BILL 254900HROIFWPRGM1V77 912796SW0 333000.00000000 PA USD 332389.59000000 3.006782131615 Long DBT UST US N 1 2019-12-12 None 0.00000000 N N N N N N UK Commercial Property REIT Lt 213800JN4FQ1A9G8EU25 000000000 33800.00000000 NS 38397.65000000 0.347343513122 Long EC CORP GG N 1 N N N PRAXAIR INC ZU69GUVJQGZ6Z1UOOO79 74005PBQ6 17000.00000000 PA USD 18009.31000000 0.162911454328 Long DBT CORP US N 2 2026-01-30 Fixed 3.20000000 N N N N N N SERVICE CORP INTL 549300RKVM2ME20JHZ15 817565CE2 4000.00000000 PA USD 4260.00000000 0.038535779296 Long DBT CORP US N 2 2029-06-01 Fixed 5.12500000 N N N N N N L BRANDS INC GR3KVMWVCR54YWQNXU90 501797AL8 7000.00000000 PA USD 5950.00000000 0.053823447608 Long DBT CORP US N 2 2035-11-01 Fixed 6.87500000 N N N N N N MATADOR RESOURCES CO 549300CI3Q2UUK5R4G79 576485AE6 6000.00000000 PA USD 5760.00000000 0.052104715668 Long DBT CORP US N 2 2026-09-15 Fixed 5.87500000 N N N N N N CCO HLDGS LLC/CAP CORP N/A 1248EPBR3 3000.00000000 PA USD 3161.25000000 0.028596533403 Long DBT CORP US N 2 2026-05-01 Fixed 5.50000000 N N N N N N COGENT COMMUNICATIONS GR 549300KFWFYF8Q1U0Y26 19240CAA1 4000.00000000 PA USD 4160.00000000 0.037631183538 Long DBT CORP US N 2 2022-03-01 Fixed 5.37500000 N N N N N N UBS AG LONDON BFM8T61CT2L1QCEMIK50 000000000 630.00000000 PA USD 73413.90000000 0.664099025279 Long DBT CORP CH N 2 2020-02-05 None 0.00000000 N N N N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 912828N71 320034.93600000 PA USD 328309.34000000 2.969872363193 Long DBT UST US N 2 2026-01-15 Fixed 0.62500000 N N N N N N DARLING INGREDIENTS INC L1N0SPPKS7EXZYUMZ898 237266AH4 6000.00000000 PA USD 6300.00000000 0.056989532762 Long DBT CORP US N 2 2027-04-15 Fixed 5.25000000 N N N N N N SINGAPORE EXCHANGE (WAS SIMEX) 549300IQ650PPXM76X03 000000000 -3.00000000 NC 2607.12000000 0.023583896929 N/A DIR CORP JP N 1 SINGAPORE EXCHANGE (WAS SIMEX) 549300IQ650PPXM76X03 Short JAPAN (10 YEAR ISSUE) Japan Government Ten Year Bond 2019-12-12 -434092.48 USD 2607.12 N N N WW INTERNATIONAL INC SGT8R1MU6ESIC7UJC518 948626AA4 5000.00000000 PA USD 5150.00000000 0.046586681543 Long DBT CORP US N 2 2025-12-01 Fixed 8.62500000 N N N N N N PENSKE AUTOMOTIVE GROUP 549300W7UTQ0M4C7LB15 70959WAG8 9000.00000000 PA USD 9405.00000000 0.085077231052 Long DBT CORP US N 2 2026-05-15 Fixed 5.50000000 N N N N N N FREEPORT-MCMORAN INC 549300IRDTHJQ1PVET45 35671DAU9 8000.00000000 PA USD 8090.00000000 0.073181796832 Long DBT CORP US N 2 2022-03-01 Fixed 3.55000000 N N N N N N Vonovia SE 5299005A2ZEP6AP7KM81 000000000 775.00000000 NS 41272.52000000 0.373349465194 Long EC CORP DE N 2 N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 912828K33 536933.95600000 PA USD 534081.49000000 4.831278503512 Long DBT UST US N 2 2020-04-15 Fixed 0.12500000 N N N N N N ANTERO RESOURCES CORP APVBKPOULHUX7YZLKU17 03674PAL7 5000.00000000 PA USD 4462.50000000 0.040367585706 Long DBT CORP US N 2 2021-11-01 Fixed 5.37500000 N N N N N N SANTANDER HOLDINGS USA 549300SMVCQN2P0O6I58 80282KAP1 17000.00000000 PA USD 18265.64000000 0.165230204635 Long DBT CORP US N 2 2027-07-13 Fixed 4.40000000 N N N N N N BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 000000000 1.00000000 NC USD -946.37000000 -0.00856082287 N/A DFE CORP US N 2 BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 -125000000.00000000 KRW 106248.25000000 USD 2020-03-19 -946.37 N N N BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 000000000 1.00000000 NC USD 6034.83000000 0.054590816190 N/A DFE CORP US N 2 BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 -275820.72000000 USD 18400000.00000000 RUB 2020-03-19 6034.83 N N N Land Securities Group PLC 213800V8IAVKS37D6B88 000000000 16680.00000000 NS 203171.73000000 1.837882851305 Long EC CORP GB N 2 N N N DOMINICAN REPUBLIC 254900EHU7Q8FGVPI369 25714PCM8 4200000.00000000 PA 84126.76000000 0.761007102414 Long DBT NUSS DO N 2 2024-05-10 Fixed 11.50000000 N N N N N N TOWNSQUARE MEDIA INC 549300XBA8C68H0DR538 892231AA9 8000.00000000 PA USD 7920.00000000 0.071643984044 Long DBT CORP US N 2 2023-04-01 Fixed 6.50000000 N N N N N N CATALENT PHARMA SOLUTION 549300HALRZ339MSTH85 14879EAD0 6000.00000000 PA USD 6195.00000000 0.056039707216 Long DBT CORP US N 2 2026-01-15 Fixed 4.87500000 N N N N N N Hydro One Ltd 5493007QZDXTP1W2VL44 448811208 2300.00000000 NS 42765.93000000 0.386858788706 Long EC CORP CA N 1 N N N UKRAINE GOVERNMENT 6354001WLTJXOMEXPY07 000000000 100000.00000000 PA 123182.62000000 1.114304755276 Long DBT NUSS UA N 2 2026-06-20 Fixed 6.75000000 N N N N N N COLFAX CORP 635400OP2DYYYMOIYL17 15723RAA2 5000.00000000 PA USD 5312.50000000 0.048056649650 Long DBT CORP US N 2 2024-02-15 Fixed 6.00000000 N N N N N N TREASURY BILL 254900HROIFWPRGM1V77 912796SU4 270000.00000000 PA USD 269604.04000000 2.438826709594 Long DBT UST US N 1 2019-11-29 None 0.00000000 N N N N N N ELECTRICITE DE FRANCE SA 549300X3UK4GG3FNMO06 000000000 14000.00000000 PA USD 20117.78000000 0.181984584510 Long DBT CORP FR N 2 2039-01-26 Fixed 6.95000000 N N N N N N QVC INC 549300WBLU5NKPX5X472 747262AK9 4000.00000000 PA USD 4155.35000000 0.037589119835 Long DBT CORP US N 2 2023-03-15 Fixed 4.37500000 N N N N N N VERMILION ENERGY INC WT03B8BB1IX8WI9ZGV02 923725AB1 7000.00000000 PA USD 6587.00000000 0.059585722588 Long DBT CORP CA N 2 2025-03-15 Fixed 5.62500000 N N N N N N Gecina SA 9695003E4MMA10IBTR26 000000000 250.00000000 NS 42917.24000000 0.388227532547 Long EC CORP FR N 2 N N N Hammerson PLC 213800G1C9KKVVDN1A60 000000000 46254.00000000 NS 173759.90000000 1.571824684735 Long EC CORP GB N 2 N N N Deutsche Wohnen SE 529900QE24Q67I3FWZ10 000000000 3830.00000000 NS 144400.27000000 1.306238717152 Long EC CORP DE N 2 N N N HCA INC L3CJ6J7LJ2DX62FTXD46 404119BS7 8000.00000000 PA USD 9000.00000000 0.081413618231 Long DBT CORP US N 2 2026-02-15 Fixed 5.87500000 N N N N N N BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 000000000 1.00000000 NC USD -13425.86000000 -0.12144976005 N/A DFE CORP US N 2 BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 -658000000.00000000 KRW 550144.22000000 USD 2019-11-20 -13425.86 N N N FRONTDOOR INC 5493008RB0JZJI3QGZ06 35905AAA7 5000.00000000 PA USD 5475.00000000 0.049526617757 Long DBT CORP US N 2 2026-08-15 Fixed 6.75000000 N N N N N N ENVIVA PARTNERS LP/FIN C N/A 29413XAB3 4000.00000000 PA USD 4087.50000000 0.036975351613 Long DBT CORP US N 2 2021-11-01 Fixed 8.50000000 N N N N N N CHENIERE CORP CHRISTI HD 549300I7CIEWU1BBLQ53 16412XAG0 8000.00000000 PA USD 8620.00000000 0.077976154351 Long DBT CORP US N 2 2027-06-30 Fixed 5.12500000 N N N N N N DELL INC 3E70L4WYANTIWWIPHC81 247025AE9 7000.00000000 PA USD 8102.50000000 0.073294871302 Long DBT CORP US N 2 2028-04-15 Fixed 7.10000000 N N N N N N BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 000000000 1.00000000 NC USD -7670.78000000 -0.06938955049 N/A DFE CORP US N 2 BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 -11300000.00000000 PHP 213679.25000000 USD 2020-03-19 -7670.78 N N N NETFLIX INC 549300Y7VHGU0I7CE873 64110LAS5 4000.00000000 PA USD 4133.16000000 0.037388390036 Long DBT CORP US N 2 2028-04-15 Fixed 4.87500000 N N N N N N MATCH GROUP INC 549300BIJKT86CPCKK96 57665RAG1 4000.00000000 PA USD 4175.00000000 0.037766872902 Long DBT CORP US N 2 2027-12-15 Fixed 5.00000000 N N N N N N BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 000000000 1.00000000 NC USD 60.68000000 0.000548908706 N/A DFE CORP US N 2 BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 -51392.74000000 USD 60000000.00000000 KRW 2020-03-19 60.68 N N N International Public Partnerships Ltd 2138002AJT55TI5M4W30 000000000 50370.00000000 NS 102948.41000000 0.931266949925 Long EC RF GG N 2 N N N CENTURYLINK INC 8M3THTGWLTYZVE6BBY25 156700AM8 8000.00000000 PA USD 8140.00000000 0.073634094712 Long DBT CORP US N 2 2039-09-15 Fixed 7.60000000 N N N N N N JLEN Environmental Assets Group Ltd 213800JWJN54TFBMBI68 000000000 17255.00000000 NS 27156.86000000 0.245659803602 Long EC RF GB N 1 N N N BELL CANADA 549300O5ZKB2MUUSKB97 07813ZBH6 21000.00000000 PA 18219.35000000 0.164811467259 Long DBT CORP CA N 2 2044-09-29 Fixed 4.75000000 N N N N N N SCHWEITZER-MAUDUIT INTL 549300Z1FU4IDULG1R21 808541AA4 4000.00000000 PA USD 4270.00000000 0.038626238872 Long DBT CORP US N 2 2026-10-01 Fixed 6.87500000 N N N N N N BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 000000000 1.00000000 NC USD -1651.14000000 -0.01493614240 N/A DFE CORP US N 2 BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 -66780000.00000000 HUF 226469.52000000 USD 2020-02-27 -1651.14 N N N SCIENTIFIC GAMES INTERNA RLTHESQ0RNFQJWPBJN60 80874YAW0 6000.00000000 PA USD 6180.00000000 0.055904017852 Long DBT CORP US N 2 2025-10-15 Fixed 5.00000000 N N N N N N HANESBRANDS INC GX5LWVWZLL5S4W1L2F20 410345AJ1 5000.00000000 PA USD 5256.00000000 0.047545553047 Long DBT CORP US N 2 2024-05-15 Fixed 4.62500000 N N N N N N Renewables Infrastructure Group Ltd/The 213800NO6Q7Q7HMOMT20 000000000 43801.00000000 NS 74296.31000000 0.672081268709 Long EC CORP GG N 2 N N N POLAND GOVERNMENT BOND 259400R9L8QEP0TPXS31 000000000 297000.00000000 PA 80842.55000000 0.731298278066 Long DBT NUSS PL N 2 2027-07-25 Fixed 2.50000000 N N N N N N MEXICAN UDIBONOS 254900EGTWEU67VP6075 000000000 2792973.82360000 PA 156000.87000000 1.411177252670 Long DBT NUSS MX N 2 2025-12-04 Fixed 4.50000000 N N N N N N AUSTRALIAN SECURITIES EXCHANGE TRADE24 N/A 000000000 -2.00000000 NC 2940.79000000 0.026602261595 N/A DIR CORP AU N 1 AUSTRALIAN SECURITIES EXCHANGE TRADE24 N/A Short AUSTRALIAN GOVERNMENT Australia Government Bond 2019-12-16 -199796.04 USD 2940.79 N N N LAND O LAKES CAP TRST I N/A 514665AA6 6000.00000000 PA USD 6748.48000000 0.061046463818 Long DBT CORP US N 2 2028-03-15 Fixed 7.45000000 N N N N N N John Laing Group PLC 213800GLLXRSIIKN6I12 000000000 26560.00000000 NS 125769.01000000 1.137701129505 Long EC CORP GB N 2 N N N LondonMetric Property PLC 213800OCERWWPQDURL87 000000000 16040.00000000 NS 48162.18000000 0.435673037304 Long EC CORP GB N 1 N N N Hibernia REIT plc 635400MHRA4QVVFTON18 000000000 42040.00000000 NS 65454.53000000 0.592098901885 Long EC CORP IE N 1 N N N BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 000000000 1.00000000 NC USD -4054.37000000 -0.03667565903 N/A DFE CORP US N 2 BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 -226156.84000000 USD 23800000.00000000 JPY 2020-02-27 -4054.37 N N N HANESBRANDS INC GX5LWVWZLL5S4W1L2F20 410345AL6 2000.00000000 PA USD 2115.00000000 0.019132200284 Long DBT CORP US N 2 2026-05-15 Fixed 4.87500000 N N N N N N LEG Immobilien AG 391200SO40AKONBO0Z96 000000000 330.00000000 NS 37905.09000000 0.342887836256 Long EC CORP DE N 2 N N N BONOS TESORERIA PESOS 549300FLZTJM5YJF8D34 000000000 60000000.00000000 PA 95307.85000000 0.862150768267 Long DBT NUSS CL N 2 2035-03-01 Fixed 5.00000000 N N N N N N PTC INC 54930050SSMU8SKDJ030 69370CAA8 11000.00000000 PA USD 11687.50000000 0.105724629231 Long DBT CORP US N 2 2024-05-15 Fixed 6.00000000 N N N N N N REYNOLDS GRP ISS/REYNOLD N/A 761735AV1 11000.00000000 PA USD 11385.00000000 0.102988227063 Long DBT CORP US N 2 2024-07-15 Fixed 7.00000000 N N N N N N Covivio 969500P8M3W2XX376054 000000000 248.00000000 NS 28085.83000000 0.254063226816 Long EC CORP FR N 2 N N N XPO LOGISTICS INC 54930096DB9LCLPN7H13 983793AD2 6000.00000000 PA USD 6112.50000000 0.055293415715 Long DBT CORP US N 2 2022-06-15 Fixed 6.50000000 N N N N N N Korea Electric Power Corp 988400QG33WS7JEIV602 500631106 1700.00000000 NS USD 18496.00000000 0.167314031424 Long EC CORP KR N 1 N N N DEUTSCHLAND I/L BOND 529900AQBND3S6YJLY83 000000000 173913.23675880 PA 212642.30000000 1.923553225796 Long DBT NUSS DE N 2 2026-04-15 Fixed 0.10000000 N N N N N N NOTA DO TESOURO NACIONAL 254900ZFY40OYEADAP90 000000000 428000.00000000 PA 125705.96000000 1.137130781880 Long DBT NUSS BR N 2 2025-01-01 Fixed 10.00000000 N N N N N N BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 000000000 1.00000000 NC USD -2857.42000000 -0.02584810011 N/A DFE CORP US N 2 BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 -336000.00000000 TRY 54324.08000000 USD 2020-02-13 -2857.42 N N N NextEnergy Solar Fund Ltd 213800ZPHCBDDSQH5447 000000000 40290.00000000 NS 62627.75000000 0.566527969914 Long EC RF GG N 1 N N N Hicl Infrastructure PLC 213800BVXR1E5L7PEV94 000000000 91100.00000000 NS 202012.26000000 1.827394334868 Long EC RF GB N 2 N N N Ares Euro CLO BV 549300KRVTQT16X1TZ47 000000000 100000.00000000 PA 109789.99000000 0.993155592394 Long ABS-CBDO CORP NL N 2 2030-10-14 Floating 1.10000000 N N N N N N Tenaga Nasional Bhd 549300FV8X6UID6I1413 000000000 8800.00000000 NS 29143.38000000 0.263629779256 Long EC CORP MY N 2 N N N Baillie Gifford Funds - The Emerging Markets Fund N/A 056823396 13761.22400000 NS USD 285132.56000000 2.579297042815 Long EC RF US N 1 N N N Baillie Gifford Funds - The International Equity Fund 21380086L3U8K7PHRI60 056823370 87734.97600000 NS USD 1165120.48000000 10.53963043921 Long EC RF US N 1 N N N SPRINT CORP 549300ZTTY7CXOLJ6539 85207UAE5 4000.00000000 PA USD 4268.24000000 0.038610317986 Long DBT CORP US N 2 2021-09-15 Fixed 7.25000000 N N N N N N EGYPT GOVERNMENT BOND 529900GFIVH4086NMH82 000000000 1210000.00000000 PA 79229.91000000 0.716710405032 Long DBT NUSS EG N 2 2026-08-06 Fixed 15.60000000 N N N N N N EQUINOR ASA OW6OFBNCKXC4US5C7523 000000000 10000.00000000 PA 18128.52000000 0.163989822932 Long DBT CORP NO N 2 2028-11-27 Fixed 6.12500000 N N N N N N ACI WORLDWIDE INC 5493003BPVMZUJ6F5C02 004498AB7 4000.00000000 PA USD 4240.00000000 0.038354860144 Long DBT CORP US N 2 2026-08-15 Fixed 5.75000000 N N N N N N AT&T INC 549300Z40J86GGSTL398 00206RDR0 16000.00000000 PA USD 18831.54000000 0.170349312031 Long DBT CORP US N 2 2037-03-01 Fixed 5.25000000 N N N N N N MEX BONOS DESARR FIX RT 254900EGTWEU67VP6075 000000000 1392500.00000000 PA 81116.30000000 0.733774608954 Long DBT NUSS MX N 2 2029-05-31 Fixed 8.50000000 N N N N N N BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 000000000 1.00000000 NC USD -3514.73000000 -0.03179409848 N/A DFE CORP US N 2 BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 -348000.00000000 AUD 236465.41000000 USD 2019-11-13 -3514.73 N N N Greencoat UK Wind PLC/Funds 213800ZPBBK8H51RX165 000000000 22220.00000000 NS 41965.26000000 0.379615961849 Long EC RF GB N 1 N N N BONOS DE TESORERIA 254900STKLK2DBJJZ530 000000000 527000.00000000 PA 180936.83000000 1.636746889080 Long DBT NUSS PE N 2 2032-08-12 Fixed 6.15000000 N N N N N N Foresight Solar Fund Ltd 213800VO4O83JVSSOX33 000000000 40290.00000000 NS 61062.06000000 0.552364804588 Long EC RF GB N 1 N N N Vastned Retail NV 724500GTYRJW5W85PN10 000000000 660.00000000 NS 19801.03000000 0.179119277446 Long EC CORP NL N 1 N N N CITIGROUP INC 6SHGI4ZSSLCXXQSBB395 172967EW7 12000.00000000 PA USD 19702.06000000 0.178223999024 Long DBT CORP US N 2 2039-07-15 Fixed 8.12500000 N N N N N N GRAHAM HOLDINGS CO 529900BOSCEEEMAFQJ29 384637AA2 9000.00000000 PA USD 9607.50000000 0.086909037462 Long DBT CORP US N 2 2026-06-01 Fixed 5.75000000 N N N N N N BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 000000000 1.00000000 NC USD -1433.93000000 -0.01297126995 N/A DFE CORP US N 2 BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 -269000.00000000 CAD 202894.83000000 USD 2020-01-23 -1433.93 N N N VERISIGN INC LMPL4N8ZOJRMF0KOF759 92343EAH5 11000.00000000 PA USD 12045.00000000 0.108958559067 Long DBT CORP US N 2 2025-04-01 Fixed 5.25000000 N N N N N N EDP Renovaveis SA 529900MUFAH07Q1TAX06 000000000 3900.00000000 NS 44453.61000000 0.402125470396 Long EC CORP ES N 1 N N N TwentyFour Income Fund Ltd 549300CCEV00IH2SU369 000000000 135824.00000000 NS 189135.61000000 1.710912705178 Long EC RF GG N 1 N N N SCIENTIFIC GAMES INTERNA RLTHESQ0RNFQJWPBJN60 80874YBA7 3000.00000000 PA USD 3172.50000000 0.028698300426 Long DBT CORP US N 2 2026-03-15 Fixed 8.25000000 N N N N N N ADIENT US LLC 213800SOTRCDGZUHL712 00688JAA5 2000.00000000 PA USD 2105.00000000 0.019041740708 Long DBT CORP US N 2 2026-05-15 Fixed 7.00000000 N N N N N N LABL ESCROW ISSUER LLC N/A 50168AAB6 4000.00000000 PA USD 4140.00000000 0.037450264386 Long DBT CORP US N 2 2026-07-15 Fixed 6.75000000 N N N N N N ADO Properties SA 391200OYYFJ3DWAMEC69 000000000 285.00000000 NS 11601.90000000 0.104950295262 Long EC CORP DE N 1 N N N 3i Infrastructure PLC 549300SQ4ZSVSWC6H750 000000000 10000.00000000 NS 37093.14000000 0.335542970998 Long EC RF JE N 2 N N N RANGE RESOURCES CORP H3Y3WLYCX0BTO1TRW162 75281AAS8 9000.00000000 PA USD 7222.50000000 0.065334428631 Long DBT CORP US N 2 2025-05-15 Fixed 4.87500000 N N N N N N AUSTRALIAN GOVERNMENT 213800J6B7JSBDETCB42 000000000 104000.00000000 PA 111932.06000000 1.012532666750 Long DBT NUSS AU N 2 2030-09-20 Fixed 2.50000000 N N N N N N HSBC HOLDINGS PLC MLU0ZO3ML4LN2LL2TL39 000000000 11000.00000000 PA 17747.22000000 0.160540599306 Long DBT CORP GB N 2 2027-12-20 Fixed 5.75000000 N N N N N N UBS AG LONDON BFM8T61CT2L1QCEMIK50 000000000 690.00000000 PA USD 81489.00000000 0.737146037344 Long DBT CORP CH N 2 2020-02-05 None 0.00000000 N N N N N N BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 000000000 1.00000000 NC USD 259.92000000 0.002351225294 N/A DFE CORP US N 2 BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 -54685.82000000 USD 2805000.00000000 PHP 2020-03-19 259.92 N N N BBGI SICAV SA/Fund 529900CV0RWCOP5YHK95 000000000 31043.00000000 NS 64941.83000000 0.587461039433 Long EC RF LU N 1 N N N ORANGE SA 969500MCOONR8990S771 35177PAL1 12000.00000000 PA USD 18729.41000000 0.169425448383 Long DBT CORP FR N 2 2031-03-01 Variable 9.00000000 N N N N N N Carlyle Global Market Strategi 635400PVBNAP8EJWQD44 000000000 150000.00000000 PA 167141.04000000 1.511950757939 Long ABS-CBDO CORP IE N 2 2030-07-15 Floating 2.15000000 N N N N N N BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 000000000 1.00000000 NC USD -1608.46000000 -0.01455006093 N/A DFE CORP US N 2 BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 -109000.00000000 EUR 120829.12000000 USD 2020-02-13 -1608.46 N N N FMG RESOURCES AUG 2006 549300EFD6S2NFE9D745 30251GAU1 6000.00000000 PA USD 6180.00000000 0.055904017852 Long DBT CORP AU N 2 2022-05-15 Fixed 4.75000000 N N N N N N EUREX CLEARING AG 529900LN3S50JPU47S06 000000000 -1.00000000 NC 4691.24000000 0.042436758043 N/A DIR CORP DE N 1 EUREX CLEARING AG 529900LN3S50JPU47S06 Short BUNDESREPUB. DEUTSCHLAND Bundesrepublik Deutschland Bundesanleihe 2019-12-06 -193395.02 USD 4691.24 N N N BLUE CUBE SPINCO LLC N/A 095370AB8 6000.00000000 PA USD 6540.00000000 0.059160562581 Long DBT CORP US N 2 2023-10-15 Fixed 9.75000000 N N N N N N LKQ CORP DS830JTTZQN6GK0I2E41 501889AB5 4000.00000000 PA USD 4078.72000000 0.036895928106 Long DBT CORP US N 2 2023-05-15 Fixed 4.75000000 N N N N N N LXI REIT plc 2138008YZGXOKAXQVI45 000000000 10560.00000000 NS 17153.38000000 0.155168747856 Long EC CORP GB N 1 N N N LIBERTY INTERACTIVE LLC 549300SZUIU7Z32Q0664 530715AG6 8293.93200000 PA USD 5774.65000000 0.052237238947 Long DBT CORP US N 2 2029-11-15 Fixed 4.00000000 N N N N N 3.2265 shares of S US and .786 CTL US or Cash USD XXXX N N N TELECOM ITALIA CAPITAL 549300777DJZOR5C4L39 87927VAR9 8000.00000000 PA USD 9320.00000000 0.084308324657 Long DBT CORP LU N 2 2036-07-18 Fixed 7.20000000 N N N N N N TRANSDIGM INC 88Q84GB3X55CF5OC7582 893647BE6 8000.00000000 PA USD 8570.00000000 0.077523856471 Long DBT CORP US N 2 2026-03-15 Fixed 6.25000000 N N N N N N Immobiliare Grande Distribuzio 815600CF8C0389D0E272 000000000 3000.00000000 NS 19272.38000000 0.174337131971 Long EC CORP IT N 1 N N N SENSATA TECHNOLOGIES BV PUCKW5P5O3XMOZVH7T53 81725WAJ2 7000.00000000 PA USD 7543.90000000 0.068241799397 Long DBT CORP US N 2 2025-10-01 Fixed 5.00000000 N N N N N N FRANCE (GOVT OF) 969500KCGF3SUYJHPV70 000000000 164137.20000000 PA 219876.33000000 1.988991954318 Long DBT NUSS FR N 2 2030-07-25 Fixed 0.70000000 N N N N N N AUSTRALIAN GOVERNMENT 213800J6B7JSBDETCB42 000000000 144000.00000000 PA 111173.55000000 1.005671217465 Long DBT NUSS AU N 2 2027-11-21 Fixed 0.75000000 N N N N N N BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 000000000 1.00000000 NC USD -7425.17000000 -0.06716777285 N/A DFE CORP US N 2 BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 -895000.00000000 CAD 672113.67000000 USD 2019-11-13 -7425.17 N N N CCO HLDGS LLC/CAP CORP N/A 1248EPAY9 9000.00000000 PA USD 9123.75000000 0.082533055482 Long DBT CORP US N 2 2022-09-30 Fixed 5.25000000 N N N N N N MUELLER WATER PRODUCTS 549300F7ZU4P1F8V8L60 624758AE8 4000.00000000 PA USD 4195.00000000 0.037947792053 Long DBT CORP US N 2 2026-06-15 Fixed 5.50000000 N N N N N N SALLY HOLDINGS/SALLY CAP N/A 79546VAL0 4000.00000000 PA USD 4130.00000000 0.037359804810 Long DBT CORP US N 2 2025-12-01 Fixed 5.62500000 N N N N N N GS FINANCE CORP 549300FR80KBVO6DRL61 40056FJ89 300000.00000000 PA USD 324660.00000000 2.936860588354 Long SN CORP US N 2 2021-05-24 None 0.00000000 N N N N N N CHICAGO BOARD OF TRADE 549300EX04Q2QBFQTQ27 000000000 -3.00000000 NC USD 3569.37000000 0.032288369612 N/A DIR CORP US N 1 CHICAGO BOARD OF TRADE 549300EX04Q2QBFQTQ27 Short US TREASURY N/B United States Treasury Note/Bond 2019-12-19 -394460.01 USD 3569.37 N N N BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 000000000 1.00000000 NC USD 8523.34000000 0.077101772091 N/A DFE CORP US N 2 BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 -156500000.00000000 CLP 220329.44000000 USD 2020-03-19 8523.34 N N N BRITLD-BEARER BD RV5B68J2GV3QGMRPW209 000000000 10000.00000000 PA 17674.45000000 0.159882324973 Long DBT CORP GB N 2 2035-09-24 Fixed 5.26400000 N N N N N N MEDNAX INC N/A 58502BAA4 4000.00000000 PA USD 4050.00000000 0.036636128204 Long DBT CORP US N 2 2023-12-01 Fixed 5.25000000 N N N N N N Tritax Big Box REIT PLC 213800L6X88MIYPVR714 000000000 9500.00000000 NS 18503.54000000 0.167382237944 Long EC CORP GB N 2 N N N FIRSTCASH INC 549300V2X3UU7K0DG350 33767DAA3 10000.00000000 PA USD 10350.00000000 0.093625660966 Long DBT CORP US N 2 2024-06-01 Fixed 5.37500000 N N N N N N Italgas SpA 815600F25FF44EF1FA76 000000000 6030.00000000 NS 38819.36000000 0.351158283894 Long EC CORP IT N 2 N N N BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 000000000 1.00000000 NC USD 9231.31000000 0.083506038680 N/A DFE CORP US N 2 BANK OF NEW YORK MELLON WFLLPEPC7FZXENRZV188 -269723.77000000 USD 1124000.00000000 BRL 2020-01-23 9231.31 N N N Keppel Infrastructure Trust 254900BF7L1ZCMAZS467 000000000 73100.00000000 NS 28766.78000000 0.260223071631 Long EC CORP SG N 2 N N N VERISK ANALYTICS INC 549300I1YSWNIRKBWP67 92345YAF3 18000.00000000 PA USD 19883.79000000 0.179867920896 Long DBT CORP US N 2 2029-03-15 Fixed 4.12500000 N N N N N N TTM TECHNOLOGIES INC 549300SC4BDOIS008048 87305RAH2 6000.00000000 PA USD 6060.00000000 0.054818502942 Long DBT CORP US N 2 2025-10-01 Fixed 5.62500000 N N N N N N MALAYSIA GOVERNMENT 254900GSIL471JOBYY43 000000000 752000.00000000 PA 185270.77000000 1.675951526480 Long DBT NUSS MY N 2 2026-07-15 Fixed 3.90600000 N N N N N N INDONESIA GOVERNMENT 529900FWX0GRR7WG5W79 000000000 2460000000.00000000 PA 198049.76000000 1.791549727952 Long DBT NUSS ID N 2 2029-03-15 Fixed 9.00000000 N N N N N N Korea Electric Power Corp 988400QG33WS7JEIV602 000000000 226.00000000 NS 4940.50000000 0.044691553430 Long EC CORP KR N 2 N N N NETFLIX INC 549300Y7VHGU0I7CE873 64110LAN6 9000.00000000 PA USD 9160.20000000 0.082862780636 Long DBT CORP US N 2 2026-11-15 Fixed 4.37500000 N N N N N N SIRIUS XM RADIO INC WP5O65E6BMU84LNO4227 82967NAU2 12000.00000000 PA USD 12480.00000000 0.112893550614 Long DBT CORP US N 2 2025-04-15 Fixed 5.37500000 N N N N N N 2019-12-17 Baillie Gifford Funds Lindsay Cockburn Lindsay Cockburn Treasurer