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.
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.
Strategy portfolio holdings
A list of the top 10 holdings that the representative portfolio invests in.
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).
Explore further
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:
Filters
Insights
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.
Reflections: When life gives you lemons, make lemonade
Our new portfolio holding AppLovin has an innovative approach to app marketing, driving success in a crowded market.
Long Term Global Growth Q3 investor letter
The Long Term Global Growth Team reflects on recent performance, portfolio changes and market developments
Long Term Global Growth Q3 update
The Long Term Global Growth Team reflects on recent performance, portfolio changes and market developments.
Reflections: Flying under the radar
Uncovering our portfolio holdings that fly under the radar: Intuitive Surgical, Atlassian and Tencent.
Kweichow Moutai: spirit of China
The fiery spirit that’s a profitable symbol of Chinese culture and luxury.
Reflections: From handbags to outliers
Exploring our enduring and high-performing luxury brand holdings and their investment potential.
Reflections: The value of culture
Why the critical role of corporate culture can be the heartbeat of business success.
Long Term Global Growth Q2 update
The Long Term Global Growth Team reflects on recent performance, portfolio changes and market developments.
Sugar rush: LTGG Q2 2024
Highlighting the companies driving portfolio returns and how our appetite for growth compares to market trends.
Reflections: Skipping the queue with Nubank
Discover how Nubank is freeing Brazilians from endless queues and leading a financial revolution.
Transformations
The LTGG Team explore themes that will be key to the next 20 years of transformational growth.
LTGG Reflections: e.l.f Beauty
Why we believe e.l.f. Beauty's innovative approach and explosive growth make it a must-have in the LTGG portfolio.
Reflections: Risk
How we identify leading high-growth companies by blending deep fundamental analysis with strategic insights.
Webinar: Why growth? Why now?
Partners Tim Garratt and Stuart Dunbar identify signs of emerging growth.
Reflections: A robotic reality
From surgery to warehouses, discover how robotics are redefining efficiency and innovation in 2024.
The opportunity in risk: LTGG Q1 2024
How the LTGG team searches for companies willing to take bold risks to become future leaders.
Algorithmic alchemy: investing with optimism in AI
How artificial intelligence creates growth opportunities and ways for us to serve you better.
Long Term Global Growth Q1 update
The Long Term Global Growth Team reflects on recent performance, portfolio changes and market developments.
Reflections: The year of the dragon
LTGG investment manager Mark Urquhart reflects on his recent trip to China.
Long Term Global Growth Strategy
Investment manager, Mark Urquhart, discusses the Baillie Gifford Long Term Global Growth Strategy.
Reflections: Llama mile
How the ecommerce giant is slashing delivery times with innovation and an unlikely courier fleet
Moderna: designing drugs on a computer
Can scientists meet unmet health needs by writing code to help the body heal itself?
LTGG’s 2023 year-end review
Was 2023 the year that saw transformational growth stories resume their conquest?
Reflections: Illumina
Why we sold Illumina after more than a decade in the portfolio.
Why growth, why now?
Tough times play to the partnership’s strengths: analysing what enables us to adapt and thrive amid rapid change.
Reflections: Solar innovations
Enphase's role in the solar revolution and the potential for long-term growth.
Reflections: from biologics to branded fashion
In this monthly update, the team discusses recent research visits to WuXi, Symbotic and Moncler.
Reflections: NVIDIA - chipping away at success
Following a successful quarter, the LTGG team consider the future of NVIDIA.
Growth investing across decades
Mark Urquhart discusses the science and art of picking growth stocks with enduring potential.
Reflections: The transformative potential of AI
Artificial intelligence is not as new as you think it is, as the LTGG portfolio reveals.
Reflections: Defying data disorder
Why Datadog's ability to master the chaos of cloud computing offers an attractive opportunity.
LTGG second quarter 2023 update
An update on portfolio performance, and the importance of adapting for the future.
Reflections: Kaizen – continuous improvement
Reflections on performance, holdings and continuous improvement.
Reflections: Jevons paradox - a case for Samsara
How Samsara's data-driven insights help its customers optimise their business operations.
Quarterly Review
LTGG review the first quarter of 2023 and the engines of change.
Reflections: Catch-22 Earnings
Does the market under-appreciate the impact of intangible investments?
Reflections: Rising from the ashes
An investment portfolio update explaining why holdings have thrived despite economic chaos.
LTGG investor update – January 2023
LTGG’s Stewart Hogg and Gemma Barkhuizen on volatility, business culture, and the long-term view.
MercadoLibre: a lesson in innovation
Investment manager Lawrence Burns talks to MercadoLibre’s CFO Pedro Arnt.
Reflections: Shifting shades of grey
Short-term, many companies seem grey and similar. But patience will reveal colourful outliers.
LTGG quarterly commentary
A look at recent macroeconomic factors and performance and considerations for the future.
Reflections: Operational growth hurdles
Why growth is still possible in hard times.
Looking back going forward
The LTGG Team look back on an extraordinary 12 months and discuss the growth prospects of the portfolio, the rapid development of vaccines and the importance of hold discipline.
Long Term Global Growth Q4 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.Reflections: When life gives you lemons, make lemonade
Our new portfolio holding AppLovin has an innovative approach to app marketing, driving success in a crowded market.Long Term Global Growth Q3 investor letter
The Long Term Global Growth Team reflects on recent performance, portfolio changes and market developmentsLong Term Global Growth Q3 update
The Long Term Global Growth Team reflects on recent performance, portfolio changes and market developments.Reflections: Flying under the radar
Uncovering our portfolio holdings that fly under the radar: Intuitive Surgical, Atlassian and Tencent.Kweichow Moutai: spirit of China
The fiery spirit that’s a profitable symbol of Chinese culture and luxury.Reflections: From handbags to outliers
Exploring our enduring and high-performing luxury brand holdings and their investment potential.Reflections: The value of culture
Why the critical role of corporate culture can be the heartbeat of business success.Long Term Global Growth Q2 update
The Long Term Global Growth Team reflects on recent performance, portfolio changes and market developments.Sugar rush: LTGG Q2 2024
Highlighting the companies driving portfolio returns and how our appetite for growth compares to market trends.Reflections: Skipping the queue with Nubank
Discover how Nubank is freeing Brazilians from endless queues and leading a financial revolution.Transformations
The LTGG Team explore themes that will be key to the next 20 years of transformational growth.LTGG Reflections: e.l.f Beauty
Why we believe e.l.f. Beauty's innovative approach and explosive growth make it a must-have in the LTGG portfolio.Reflections: Risk
How we identify leading high-growth companies by blending deep fundamental analysis with strategic insights.Webinar: Why growth? Why now?
Partners Tim Garratt and Stuart Dunbar identify signs of emerging growth.Reflections: A robotic reality
From surgery to warehouses, discover how robotics are redefining efficiency and innovation in 2024.The opportunity in risk: LTGG Q1 2024
How the LTGG team searches for companies willing to take bold risks to become future leaders.Algorithmic alchemy: investing with optimism in AI
How artificial intelligence creates growth opportunities and ways for us to serve you better.Long Term Global Growth Q1 update
The Long Term Global Growth Team reflects on recent performance, portfolio changes and market developments.Reflections: The year of the dragon
LTGG investment manager Mark Urquhart reflects on his recent trip to China.Long Term Global Growth Strategy
Investment manager, Mark Urquhart, discusses the Baillie Gifford Long Term Global Growth Strategy.Reflections: Llama mile
How the ecommerce giant is slashing delivery times with innovation and an unlikely courier fleetModerna: designing drugs on a computer
Can scientists meet unmet health needs by writing code to help the body heal itself?LTGG’s 2023 year-end review
Was 2023 the year that saw transformational growth stories resume their conquest?Reflections: Illumina
Why we sold Illumina after more than a decade in the portfolio.Why growth, why now?
Tough times play to the partnership’s strengths: analysing what enables us to adapt and thrive amid rapid change.Reflections: Solar innovations
Enphase's role in the solar revolution and the potential for long-term growth.Reflections: from biologics to branded fashion
In this monthly update, the team discusses recent research visits to WuXi, Symbotic and Moncler.Reflections: NVIDIA - chipping away at success
Following a successful quarter, the LTGG team consider the future of NVIDIA.Growth investing across decades
Mark Urquhart discusses the science and art of picking growth stocks with enduring potential.Reflections: The transformative potential of AI
Artificial intelligence is not as new as you think it is, as the LTGG portfolio reveals.Reflections: Defying data disorder
Why Datadog's ability to master the chaos of cloud computing offers an attractive opportunity.LTGG second quarter 2023 update
An update on portfolio performance, and the importance of adapting for the future.Reflections: Kaizen – continuous improvement
Reflections on performance, holdings and continuous improvement.Reflections: Jevons paradox - a case for Samsara
How Samsara's data-driven insights help its customers optimise their business operations.Quarterly Review
LTGG review the first quarter of 2023 and the engines of change.Reflections: Catch-22 Earnings
Does the market under-appreciate the impact of intangible investments?Reflections: Rising from the ashes
An investment portfolio update explaining why holdings have thrived despite economic chaos.LTGG investor update – January 2023
LTGG’s Stewart Hogg and Gemma Barkhuizen on volatility, business culture, and the long-term view.MercadoLibre: a lesson in innovation
Investment manager Lawrence Burns talks to MercadoLibre’s CFO Pedro Arnt.Reflections: Shifting shades of grey
Short-term, many companies seem grey and similar. But patience will reveal colourful outliers.LTGG quarterly commentary
A look at recent macroeconomic factors and performance and considerations for the future.Reflections: Operational growth hurdles
Why growth is still possible in hard times.Looking back going forward
The LTGG Team look back on an extraordinary 12 months and discuss the growth prospects of the portfolio, the rapid development of vaccines and the importance of hold discipline.
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
Baillie Gifford Overseas Limited provides investment management and advisory services to non-UK clients and is authorised and regulated by the UK Financial Conduct Authority. Baillie Gifford Overseas Limited is not licensed under the Regulation of Investment Advising, Investment Marketing and Portfolio Management Law, 5755-1995 (the “Advice Law”) and does not carry insurance pursuant to the Advice Law.
Baillie Gifford Overseas Limited markets and distributes Baillie Gifford’s range of collective investment schemes to Qualified Clients and Qualified Investors in Israel, as listed in the First Addendum to the Regulation of Investment Advising, Investment Marketing and Portfolio Management Law, 5755-1995 (the “Advice Law”) and in the First Addendum to the Israel Securities Law, 5728-1968 (the “Securities Law”). Detailed disclosure of the collective investment schemes can be found within this website and in the relevant scheme prospectus.
Baillie Gifford Overseas Limited does not provide investment advice. If you are in any doubt about whether an investment is suitable, you should seek independent advice.
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