Baillie Gifford reports 5.07% stake in Trade Desk

Baillie Gifford & Co filed an amended Schedule 13G reporting beneficial ownership of 22,305,995 shares of The Trade Desk, Inc. Class A common stock, representing 5.07% of the class as of 12/31/2025.

Accepted by SEC EDGAR 02/09/2026 - 11:43 AM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Baillie Gifford & Co filed an amended Schedule 13G reporting beneficial ownership of 22,305,995 shares of The Trade Desk, Inc. Class A common stock, representing 5.07% of the class as of 12/31/2025. Baillie Gifford has sole voting power over 11,829,073 shares and sole dispositive power over all 22,305,995 shares.

The filing states the securities are held in the ordinary course of business, not to change or influence control of Trade Desk. The shares are held by Baillie Gifford and its investment adviser subsidiaries on behalf of investment advisory clients, including funds, employee benefit plans, pension funds, and other institutional clients.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What percentage of Trade Desk (TTD) does Baillie Gifford & Co report owning?

Baillie Gifford & Co reports beneficial ownership of 5.07% of The Trade Desk’s Class A common stock. This corresponds to 22,305,995 shares as of December 31, 2025, according to the amended Schedule 13G filing.

How many Trade Desk (TTD) shares does Baillie Gifford & Co have voting power over?

Baillie Gifford & Co has sole voting power over 11,829,073 Trade Desk Class A shares. It reports no shared voting power, meaning voting decisions for those shares are directed solely by Baillie Gifford under the filing.

Does Baillie Gifford & Co intend to influence control of Trade Desk (TTD)?

The filing states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Trade Desk, nor in connection with any transaction having that purpose or effect.

On whose behalf does Baillie Gifford & Co hold its Trade Desk (TTD) shares?

The reported securities are held by Baillie Gifford & Co and its investment adviser subsidiaries on behalf of investment advisory clients, including registered investment companies, employee benefit plans, pension funds, and other institutional clients, according to the ownership disclosure.

What type of reporting person is Baillie Gifford & Co in the Trade Desk (TTD) filing?

Baillie Gifford & Co is classified in the filing as an investment adviser under SEC Rule 13d-1(b)(1)(ii)(E). It reports beneficial ownership because it exercises investment discretion over client accounts holding Trade Desk Class A common stock.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 8)

Trade Desk, Inc.

(Name of Issuer)

Class A Common Stock

(Title of Class of Securities)

88339J105

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 88339J105

1

Names of Reporting Persons

BAILLIE GIFFORD & CO

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 11,829,073.00
6	Shared Voting Power
7	Sole Dispositive Power 22,305,995.00
8	Shared Dispositive Power

9

Aggregate Amount Beneficially Owned by Each Reporting Person

22,305,995.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.1 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Trade Desk, Inc.
(b)	Address of issuer's principal executive offices: 42 N. CHESTNUT STREET, 42 N. CHESTNUT STREET, VENTURA, CALIFORNIA, 93001
Item 2.
(a)	Name of person filing: Baillie Gifford & Co
(b)	Address or principal business office or, if none, residence: Calton Square 1 Greenside Row Edinburgh EH1 3AN Scotland UK
(c)	Citizenship: United Kingdom
(d)	Title of class of securities: Class A Common Stock
(e)	CUSIP No.: 88339J105
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
	Investment Adviser
Item 4.	Ownership
(a)	Amount beneficially owned: 22,305,995
(b)	Percent of class: 5.07 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 11,829,073
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 22,305,995
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Securities reported on this Schedule 13G as being beneficially owned by Baillie Gifford & Co. are held by Baillie Gifford & Co. and/or one or more of its investment adviser subsidiaries, which may include Baillie Gifford Overseas Limited, on behalf of investment advisory clients, which may include investment companies registered under the Investment Company Act, employee benefit plans, pension funds or other institutional clients.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BAILLIE GIFFORD & CO

Signature:	Grant Meikle
Name/Title:	Manager
Date:	02/09/2026