Baillie Gifford Trimmed Its Stake in NIO Stock

Baillie Gifford is best known for its high-conviction plays on growth stocks. Yesterday, the Scottish asset management firm filed an amended Schedule 13G to document its stake in Nio (NYSE:NIO).The filing revealed that Baillie owned 114.63 million shares of NIO stock as of Dec. 31, which is equivalent to a 5.97% ownership stake. Baillie owned 114.90 million shares as of the end of the third quarter, meaning that it sold off 268,515 shares, or 0.23% of its position. Following the sale, Nio clocks in as Baill ...