Capital at risk
US Equity Growth
The US is a wonderfully inefficient market. It’s also the global capital for growth firms.
We seek exceptional companies for long-term, concentrated growth. Diversification dilutes the best opportunities. Just 90 companies generated half of the US stock market’s $35tn in wealth creation over 90 years.
The downside is limited to the value invested, but the upside is open-ended.
We seek to harness the power of the outliers
We are in a period of unprecedented change and innovation. A small set of exceptional companies in the US is driving global change. This makes it an extremely exciting time to invest in high-growth US businesses.
US Equity Growth: our philosophy
Investment manager Tom Slater introduces US Equity Growth, reflecting on the exciting opportunities ahead.
Owning the exceptional for a long, long time
Our objective is to deliver more than 2 per cent above the market, either the Russell 1000 Growth Index or broader S&P 500 per anum, over rolling five-year periods, by investing in a concentrated portfolio of transformational growth companies.
We believe this to be a reasonable estimate of the amount by which we can outperform the market in the long term, considering the opportunity set and the unique cultures of the US companies we invest in.
We focus on a small number of companies that can drive returns over the next decade. This requires bravery and imagination. Obsessing over upside and unmatched patience is our edge.
Transformational innovation and disruption
We are investing in the future and aim to be on the right side of innovative disruption. The index, on the other hand, is backwards looking. That’s why our overlap with the market is low (typically less than 15 per cent).
The portfolio gives exposure to important structural changes in society that transcend short-term cycles, meaning it behaves differently from the index.
Innovation is at the heart of what we do. We seek out companies that are disrupting industries, creating new markets and changing the world for the better.
The opportunity to invest in truly innovative, disruptive companies is greater today than ever before, and the long-term growth potential of these companies is huge.
Meet the managers
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Strategy portfolio holdings
A list of the top 10 holdings that the representative portfolio invests in.
All figures up to: 30 September 2024
| # | Company | Fund % |
|---|---|---|
| 1 | The Trade Desk | 8.4% |
| 2 | Amazon.com | 7.7% |
| 3 | Meta Platforms Inc | 6.1% |
| 4 | Shopify 'A' | 5.8% |
| 5 | Netflix Inc | 5.1% |
| 6 | NVIDIA | 5.0% |
| 7 | Doordash Inc | 4.9% |
| 8 | Tesla Inc | 4.9% |
| 9 | Cloudflare Inc | 3.2% |
| 10 | Duolingo Inc | 3.2% |
Please note
The information contained on this page is intended as a guide only and should not be relied upon when making investment decisions. All holdings information is unaudited. Source Baillie Gifford & Co. Please note that totals may not add due to rounding.
Invest in this strategy
You can invest in this strategy through the following fund(s).
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Insights
Key articles, videos and podcasts relating to the strategy:
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Insights
US Equity Growth Q3 investor letter
The US Equity Growth Team reflects on recent performance, portfolio changes and market developments
Do elections matter for stock returns?
What the past tells us about a new US president’s impact on growth companies.
US Equity Growth Q3 update
The US Equity Growth Team reflects on recent performance, portfolio changes and market developments.
Eric Beinhocker: evolutionary economist
How successful companies harness the power of adaptation.
Why technical leaders have an advantage
How the leaders of Meta, Shopify, Roblox and Spotify’s expertise helps them put AI to use.
The rise of cloud computing
From data lakes to Databricks, cloud storage will be key to driving progress and future innovation.
US Equity Growth Q2 update
The US Equity Growth Team reflects on recent performance, portfolio changes and market developments.
US Equity Growth: investor letter Q2 2024
Investment specialist Fraser Thomson gives an update on the US Equity Growth Strategy covering Q2 2024.
Streamlined for success
How efficiency drives at Meta, Shopify and Block could fuel their long-term growth.
US Equity Growth Q1 update
The US Equity Growth Team reflects on recent performance, portfolio changes and market developments.
The Long View
Introducing The Long View, articles by our US Equities Team exploring what matters most to optimistic, long-term investors.
Moderna: designing drugs on a computer
Can scientists meet unmet health needs by writing code to help the body heal itself?
US Equity Growth Q4 update
The US Equity Growth Team reflects on recent performance, portfolio changes and market developments.
Why growth, why now?
Tough times play to the partnership’s strengths: analysing what enables us to adapt and thrive amid rapid change.
US Equity Growth Q3 update
The US Equity Growth Team reflects on recent performance, portfolio changes and market developments.
US Equity Growth Strategy
Investment manager, Tom Slater, discusses the Baillie Gifford US Equity Growth Strategy.
US Equity Growth Q2 update
The US Equity Growth team reflects on recent performance, portfolio changes, and market developments.
US Equities Q1 update
US Equities Team reflects on recent performance, portfolio changes, and market developments.
What’s next for growth stocks?
Baillie Gifford’s Dave Bujnowski explores the new engines powering progress.
Why 'what if...' is the most vital question for investors
Today’s outsized growth rarely follows a steady or predictable path, according to Kirsty Gibson of Baillie Gifford’s US Equities Team.
Defining impact
The US Equities team discuss ESG and effective growth investing.
The long view
The enduring power of Moore’s Law and other factors that might matter in the next decade of investing.
US Equity Growth Webinar: The Long View
Join Investment Managers Tom Slater, Gary Robinson, Kirsty Gibson and Dave Bujnowski as they share their thoughts on the investment environment, explain why they believe there is scope for upside from here, and discuss their search for transformational growth companies.
US Equities: manager insights
Gary Robinson, investment manager at Baillie Gifford, responds to questions on inflation and valuation.
A conversation about sustainability
Our long-term investors know that investing sustainably is a plus for value creation.
How harnessing chaos can make companies more nimble
Chaos is often associated with a failure of leadership. Gary Robinson, partner in the US Equities Team, argues that the best bosses don’t resist disorder but channel it to create ‘chaordic organisations’ in which innovation thrives.
Navigating Change in US Equities.
In this webinar recording, US Equity strategy specialist Ben James talks to all four of the key decision makers in the US Equities Team, Tom Slater, Kirsty Gibson, Gary Robinson and Dave Bujnowski. The team explore the thought processes that have helped them navigate the challenge of maintaining a 5-10 year investment horizon during what has been a year of rapid change, followed by questions from attendees.
US Equity Strategy – Manager Insights
Ben James gives an update on the positioning and activity of the US Equity portfolio.
US Equity Growth Q3 update
The US Equity Growth Team reflects on recent performance, portfolio changes and market developments.
US Equity Growth Q3 investor letter
The US Equity Growth Team reflects on recent performance, portfolio changes and market developmentsDo elections matter for stock returns?
What the past tells us about a new US president’s impact on growth companies.US Equity Growth Q3 update
The US Equity Growth Team reflects on recent performance, portfolio changes and market developments.Eric Beinhocker: evolutionary economist
How successful companies harness the power of adaptation.Why technical leaders have an advantage
How the leaders of Meta, Shopify, Roblox and Spotify’s expertise helps them put AI to use.The rise of cloud computing
From data lakes to Databricks, cloud storage will be key to driving progress and future innovation.US Equity Growth Q2 update
The US Equity Growth Team reflects on recent performance, portfolio changes and market developments.US Equity Growth: investor letter Q2 2024
Investment specialist Fraser Thomson gives an update on the US Equity Growth Strategy covering Q2 2024.Streamlined for success
How efficiency drives at Meta, Shopify and Block could fuel their long-term growth.US Equity Growth Q1 update
The US Equity Growth Team reflects on recent performance, portfolio changes and market developments.The Long View
Introducing The Long View, articles by our US Equities Team exploring what matters most to optimistic, long-term investors.Moderna: designing drugs on a computer
Can scientists meet unmet health needs by writing code to help the body heal itself?US Equity Growth Q4 update
The US Equity Growth Team reflects on recent performance, portfolio changes and market developments.Why growth, why now?
Tough times play to the partnership’s strengths: analysing what enables us to adapt and thrive amid rapid change.US Equity Growth Q3 update
The US Equity Growth Team reflects on recent performance, portfolio changes and market developments.US Equity Growth Strategy
Investment manager, Tom Slater, discusses the Baillie Gifford US Equity Growth Strategy.US Equity Growth Q2 update
The US Equity Growth team reflects on recent performance, portfolio changes, and market developments.US Equities Q1 update
US Equities Team reflects on recent performance, portfolio changes, and market developments.What’s next for growth stocks?
Baillie Gifford’s Dave Bujnowski explores the new engines powering progress.Why 'what if...' is the most vital question for investors
Today’s outsized growth rarely follows a steady or predictable path, according to Kirsty Gibson of Baillie Gifford’s US Equities Team.Defining impact
The US Equities team discuss ESG and effective growth investing.The long view
The enduring power of Moore’s Law and other factors that might matter in the next decade of investing.US Equity Growth Webinar: The Long View
Join Investment Managers Tom Slater, Gary Robinson, Kirsty Gibson and Dave Bujnowski as they share their thoughts on the investment environment, explain why they believe there is scope for upside from here, and discuss their search for transformational growth companies.US Equities: manager insights
Gary Robinson, investment manager at Baillie Gifford, responds to questions on inflation and valuation.A conversation about sustainability
Our long-term investors know that investing sustainably is a plus for value creation.How harnessing chaos can make companies more nimble
Chaos is often associated with a failure of leadership. Gary Robinson, partner in the US Equities Team, argues that the best bosses don’t resist disorder but channel it to create ‘chaordic organisations’ in which innovation thrives.Navigating Change in US Equities.
In this webinar recording, US Equity strategy specialist Ben James talks to all four of the key decision makers in the US Equities Team, Tom Slater, Kirsty Gibson, Gary Robinson and Dave Bujnowski. The team explore the thought processes that have helped them navigate the challenge of maintaining a 5-10 year investment horizon during what has been a year of rapid change, followed by questions from attendees.US Equity Strategy – Manager Insights
Ben James gives an update on the positioning and activity of the US Equity portfolio.
Invest in this strategy
You can invest in this strategy through the following fund(s).
Explore further
Curious to learn more about our products and what we can offer you? Please get in touch.
How to invest in this strategy
You can invest in this strategy through the following fund(s).
Explore further
Curious to learn more about our products and what we can offer you? Please get in touch.
Important information
The content of this website is intended exclusively for professional investors in accordance with MiFID legislation. ’Professional investors’ are potential investors who are deemed to have the status of “professional clients”, within the meaning of MiFID (2004/39/EC), as transposed in Ireland. It is not intended for retail investors.
Baillie Gifford Investment Management (Europe) Limited is authorised and regulated by the Central Bank of Ireland (Reference number C182354) as an Alternative Investment Fund Manager and UCITS Manager to Baillie Gifford Worldwide Funds plc. Its registered office is 4/5 School House Lane East, Dublin 2, D02 N279, Ireland.
This website is informative only and the information provided should not be considered as investment or other advice or a recommendation to buy, sell or hold a particular investment. Read our Legal and regulatory information for further details.