Meta Dumped, Nvidia Boosted — Here's How Baillie Gifford Adjusted Its Tesla Holdings Amid EV Stock's 53.6% Plunge In Q4

Independently-run global asset manager Baillie Gifford trimmed its Tesla Inc. TSLA stake in the fourth quarter amid the pullback in the stock, according to a recent 13-F filing by the company.

What Happened: U.K.-headquartered Baillie Gifford held 26.81 million shares of Tesla at the end of the fourth quarter, down 3.8% from 27.88 million at the end of the third quarter. Reflecting the steep drop in shares during the quarter, the value of Tesla in the firm’s portfolio fell by over 55%. Tesla shares were down a steep 53.6% in the December quarter.

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The firm’s holding of Ferrari N.V. RACE fell 16.71% to 7.64 million. It boosted its Nio Inc. NIO stake by 25.06% to 121.06 million but trimmed Its Rivian Automotive, Inc. RIVN holdings by 1.63% to 3.31 million. The firm divested its entire 5.83 million share stake in Nio’s peer Li Auto Inc. LI

Tech Holdings: The firm also disposed of shares in big techs such as Alphabet Inc. GOOGL GOOG and Meta Platforms Inc. META.

Big Tech holdings (At End Q4)

• Alphabet: 12.36 million (down 2.56%)
• Meta: 2.36 million (down 66.57%)

Baillie Gifford, meanwhile, increased its Nvidia Corp. NVDA holdings by 13.73% to 17.38 million shares. The firm also increased holdings of Canadian e-commerce retailer Shopify Inc. SHOP and Roblox Corp. RBLX by 12.3% and 40.83%, respectively, to 72.45 million and 29.44 million.

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