In a recent 13F filing with the SEC, investment firm Baillie Gifford revealed a significant increase in its ownership of QXO, a building products distributor. The filing, which reflects holdings as of June 30, 2026, showed an increase of over 47.87 million shares, bringing its total to more than $827 million. It's important to note that 13F filings are disclosed with a delay, so this is not a reflection of a same-day trade.
Baillie Gifford has publicly stated its investment thesis, citing QXO's potential as an "outlier" in the industry. The firm is backing the ambitious growth strategy of QXO's founder, Brad Jacobs, which involves acquiring and improving companies in what they see as a fragmented and inefficient market. This long-term view underpins their substantial investment, seeing potential for significant value creation through a "buy, integrate, and tech-enable" playbook.