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Baillie Gifford, unlike a lot of their peers, are almost exclusively an equity shop, they have very little in the way of fixed income assets. If you look at the breakdown below almost three quarters of their assets are in Global/International equities. The vast majority of these assets will be benchmarked against a Global/Int. benchmark, of which Tesla is a constituent and a large constituent at that. Lots of Global/Int. equities under management and a strong conviction on Tesla means you end up having A LOT of Tesla across the firm, both in their various funds and portfolios for institutional clients.
EDIT: Not shitting on Baillie Gifford in any way, just stating the obvious.
Now, where have I heard that before... "Rule No. 1: Never lose money. Rule No. 2: Never forget rule No. 1."
Classic example of your second point being Tesla, it's stratospheric growth has caused many funds to to either re-think their single name and/or sector limits or regularly trim and take profits. And in the case of Baillie Gifford it's a massively outsized exposure to one name for the firm, I'm sure their chief risk dude has been having kittens over that.