[Alpha Biz= Ellie Kim] Baillie Gifford, the second-largest shareholder of Coupang, has significantly reduced its holdings in the company, according to regulatory filings.

Data from the U.S. Securities and Exchange Commission (SEC) shows that as of the end of March, Baillie Gifford held a 7.22% stake in Coupang Inc., down from 9.03% at the end of September last year—a decrease of 1.81 percentage points.

During this period, the firm sold approximately 29.7 million shares, equivalent to around KRW 800 billion based on the share price at the end of March.

Baillie Gifford, which manages approximately KRW 400 trillion in assets and is known for its growth-oriented investment strategy, appears to have reduced its exposure as Coupang’s stock has declined about 46% since late September.

 

 

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