This article is part of a series that provides an ongoing analysis of the changes made to GMO’s 13F stock portfolio on a quarterly basis. It is based on GMO’s regulatory 13F Form filed on 08/13/2020. Jeremy Grantham’s 13F portfolio value increased ~12% from $11.99B to $13.47B this quarter. The portfolio is diversified with recent 13F reports showing well over 500 different positions, although most of them are very small. There are 45 securities that are significantly large (more than 0.5% of the portfolio each) and they are the focus of this article. The largest