In a recent filing with the Securities and Exchange Commission, investment management firm Baillie Gifford disclosed a significant reduction in its holdings of Atlassian Corp (TEAM). The firm sold over 6.3 million shares, decreasing its position by 63.28% to 3.66 million shares. This transaction reduced the reported value of Baillie Gifford's stake from $680 million to approximately $284.57 million.
This change was revealed in a quarterly 13F filing, which reports holdings as of June 30, 2026, and does not reflect trading activity in the current quarter. The sale lowered Atlassian's weight in Baillie Gifford's portfolio from 0.69% to 0.26%. This move is part of a broader trend of institutional investors showing caution towards the stock.