Capital at risk
Long Term Global Growth
Long Term Global Growth is an unconstrained equity strategy focused on exceptional companies. We invest over the long term in listed firms with the scope to grow to many multiples of their current size over the next decade.
We seek out transformational growth
We manage a concentrated portfolio of innovative growth companies. We embrace the asymmetry of equity markets by staying optimistic about the future to deliver transformational returns to our clients.
Long Term Global Growth: our philosophy
Investment manager Mark Urquhart introduces Long Term Global Growth, reflecting on the exciting opportunities ahead.
A selective strategy
We take a bottom-up approach to stock selection. Portfolio construction is purely stock-driven, so no reference is made to benchmark indices in our investment process. We are genuinely active, not passive. Portfolio holding sizes are based purely on the magnitude of the potential upside and the associated level of conviction.
This investment approach is consistent with outperforming a typical global equity benchmark by about 3 per cent per annum, net of fees, over the long term.
A concentrated, resilient portfolio
At its core, LTGG’s task is future-proofing. Investing with an eye on the next 10 years instead of the next quarter necessitates adaptability, diligent capital allocation and resilience from our holdings.
This is a high bar for inclusion, resulting in a portfolio of 30-40 stocks, and because we embrace asymmetry, position sizes are often skewed – winners can reach 10 per cent of the portfolio.
We believe that the rewards to the champions of change can far outweigh the losses of incumbents: the best feature of equities is the unlimited upside.
Meet the managers
Documents
Philosophy and process
Explore our investment philosophy and the processes around how the team constructs the portfolio.
Quarterly update
Get the latest investment commentary, portfolio overview, transactions and performance information alongside governance engagement and voting.
Stewardship report
Find out about our conversations with portfolio companies, shareholder vote activity and consideration of environmental, social and governance matters.
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You can invest in this strategy through the following fund(s).
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Curious to learn more about our products and what we can offer you? Please get in touch.
Strategy portfolio holdings
A list of the top 10 holdings that the representative portfolio invests in.
All figures up to: 31 March 2025
| # | Company | Fund % |
|---|---|---|
| 1 | Amazon.com | 6.5% |
| 2 | Netflix Inc | 4.6% |
| 3 | NVIDIA | 4.4% |
| 4 | Spotify Technology SA | 4.3% |
| 5 | Meituan | 4.2% |
| 6 | PDD Holdings Inc | 3.9% |
| 7 | Sea Ltd ADR | 3.9% |
| 8 | Shopify 'A' | 3.6% |
| 9 | Tencent | 3.5% |
| 10 | Cloudflare Inc | 3.4% |
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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Curious to learn more about our products and what we can offer you? Please get in touch.
Insights
Key articles, videos and podcasts relating to the strategy:
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Long Term Global Growth Q1 update
The Long Term Global Growth Team reflects on recent performance, portfolio changes and market developments.
With the benefit of foresight
Investors must navigate uncertainty to create long-term value in a rapidly changing world.
LTGG Reflections: TSMC, why now?
The 40-year-old company leading AI technology with advanced semiconductor production.
Long Term Global Growth Q1 update
The Long Term Global Growth Team reflects on recent performance, portfolio changes and market developments.
ASML: Stock Story
Paul Taylor explores the cutting-edge semiconductor technology advancing the digital revolution.
Moutai: Stock Story
Ben Buckler investigates the Chinese brand dominating the global luxury drinks market.
Reflections: resisting short-term noise
Mark Urquhart teaches us how to ignore market noise and focus on promising companies.
Climate scenarios: so what?
Six themes we think will influence companies’ futures as the world adapts to climate change.
Climate scenarios: preparing for uncertainty
How scenario analysis and climate adaptation can unlock exciting investment opportunities in resilient companies.
Reflections: Politics and portfolios
How we navigate noisy politics to uncover transformative investment opportunities.
AI revolution: behind the 'overnight' success
AI is revolutionising industries globally. Stewart Hogg explores how AI is reshaping companies and driving long-term growth.
Finding sanity in the circus
An LTGG insight into what really matters for long term growth investing at the current juncture.
Reflections: Jewels in the crown
How we consider the balance of tradition and transformation when it comes to investing in India.
Volatility in LTGG: a feature not a bug
Why volatility is crucial to LTGG's strategy of capturing outsized returns.
Long Term Global Growth Q4 update
The Long Term Global Growth Team reflects on recent performance, portfolio changes and market developments.
Reflections: Private eyes
Our approach to private market investments and the AI new buy it led 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.
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
Please remember that all investment strategies have the potential for profit and loss and your or your clients’ capital may be at risk.
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