Capital at risk
Investment strategy
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.
The performance target is aspirational and is not guaranteed. We don’t use it to compile the portfolio and returns will vary. A single performance target may not be appropriate across all vehicles and jurisdictions. We may not meet our investment objectives if, for example, our growth investment style is out of favour or we misjudge the long-term earnings growth of our holdings.
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.
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).
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:
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Insights
Viewing 127 of 127
LTGG Reflections: Know where your towel is
Why investors should avoid the temptation to throw in the towel during market turmoil.
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.
LTGG 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.
LTGG 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.
LTGG 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.
LTGG Reflections: Private eyes
Our approach to private market investments and the AI new buy it led to.
LTGG 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.
LTGG 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.
LTGG Reflections: From handbags to outliers
Exploring our enduring and high-performing luxury brand holdings and their investment potential.
LTGG 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.
LTGG 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: 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.
LTGG 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.
LTGG 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.
LTGG Reflections: Llama mile
How the ecommerce giant is slashing delivery times with innovation and an unlikely courier fleet
Long Term Global Growth Q4 update
The Long Term Global Growth Team reflects on recent performance, portfolio changes and market developments.
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?
The 3 traits of great growth stocks
Why real-world problem solving, financial discipline and adaptability are critical to growth.
LTGG 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.
LTGG Reflections: Solar innovations
Enphase's role in the solar revolution and the potential for long-term growth.
LTGG third quarter 2023 update
A look at portfolio performance over the recent quarter-end.
Long Term Global Growth Q3 update
The Long Term Global Growth Team reflects on recent performance, portfolio changes and market developments.
LTGG Reflections: from biologics to branded fashion
In this monthly update, the team discusses recent research visits to WuXi, Symbotic and Moncler.
LTGG 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.
LTGG Reflections: The transformative potential of AI
Artificial intelligence is not as new as you think it is, as the LTGG portfolio reveals.
Long Term Global Growth Q2 update
The Long Term Global Growth team reflects on recent performance, portfolio changes, and market developments.
LTGG 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.
LTGG Reflections: Kaizen – continuous improvement
Reflections on performance, holdings and continuous improvement.
LTGG Reflections: Jevons paradox - a case for Samsara
How Samsara's data-driven insights help its customers optimise their business operations.
Long Term Global Growth Q1 investment update
Long Term Global Growth Team reflects on recent performance, portfolio changes, and market developments.
LTGG: 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?
LTGG 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.
LTGG 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.
LTGG Reflections: Operational growth hurdles
Why growth is still possible in hard times.
ASML: advancing chips to new limits
The Dutch firm driving progress by making it possible to create more intricate computer chips.
The changing face of advertising
With data at the heart of digital advertising, advertising businesses now come in many forms.
LTGG investor update
The LTGG Team share their thoughts on the portfolio, the current environment and what makes them optimistic about the future.
LTGG Reflections: Engines of growth
Understanding why certain ideas lead to growth can boost the chances of outperformance.
LTGG: climate progress update
Positive progress from a number of portfolio companies.
LTGG: our companies’ character
An LTGG ESG update.
LTGG Reflections: On tour
What do we learn from meeting management teams? That it’s good to be on the road again.
LTGG Reflections: The fight for your free time
Disruptive change within the entertainment world creates a wealth of opportunity.
LTGG Reflections: Company check in
We met holdings to track their progress as well as scouting out potential additions to the portfolio.
LTGG Reflections: Second quarter 2022
Sailing in the Roaring Forties.
LTGG Manager Update
The LTGG Team share their thoughts on what’s currently going on in the markets, what worries them and what they are excited about for the next 5-10 years.
LTGG Reflections: Sea Ltd
LTGG unpacks the potential of a new holding in the fintech and gaming space.
Jumpers in the hot wash
Tim Garratt considers how we value exciting businesses and reflects on what we lose when we fail to imagine.
LTGG Reflections: The future of synthetic biology
How Ginkgo Bioworks is making advances in computing and DNA engineering.
LTGG Reflections: A look back on Q1
The LTGG team consider recent performance and the long-term outlook for the fund.
LTGG Reflections: Roblox
New holding, Roblox, aims to bring the world together through play. The LTGG Team take a closer look.
LTGG Reflections: On short-term drawdowns
The LTGG team on short-term drawdowns and investing in era-defining companies.
Long Term Global Growth: Team evolution
Scott Nisbet interviews the Long Term Global Growth decision-makers discussing volatility, inflation, interest rates, China and portfolio holdings: Roblox, SEA, Moderna and Coupang.
ESG collaborations
Looking before we leap into industry initiatives.
LTGG Reflections: Affirm
The LTGG team take a closer look at how Affirm plan to transform the consumer credit industry.
ESG data: Filling in the gaps
LTGG is making efforts to improve environmental, social and governance metrics.
LTGG Reflections: The return of the tartan army
LTGG on demanding huge returns, backing companies that rip up the rule books, and looking to the future.
LTGG Reflections: Illumina
The genome sequencing specialist is playing a valuable role in the hunt for new treatments.
Rules of the game
Regulation and what we look for in companies’ responses.
Working it out
Adapting to the changing expectations of staff and society.
Inside and out
A focus on diversity and inclusion can result in competitive advantage.
LTGG Reflections: Looking for a contribution
The companies that LTGG invest in can turn their ability to improve society into a source of competitive advantage.
China’s gen Z+
How the digital natives’ wants and needs create opportunities for forward-thinking Chinese companies.
Staying engaged
What company engagement means to us.
A question of character
How we integrate environmental, social and governance factors into our investment approach.
Looking back going forward
In this edition of Looking Back Going Forward we explain how environmental, social and governance (ESG) considerations have been deeply embedded in our Long Term Global Growth strategy.
LTGG Reflections: Carvana
Carvana, the US online car dealership, has a lofty but straightforward mission to change the way in which people buy cars.
LTGG Reflections: China
The LTGG Team reason that where there’s transformational growth, the regulatory backdrop will evolve to keep up. That’s as true of China as it is elsewhere.
LTGG Reflections: LTGG and the elixir of youth
LTGG’s Tim Garratt explains how the team have endeavoured to keep the portfolio youthful and forward looking.
LTGG Reflections: Alphabet
The LTGG team explain why they decided to sell their clients’ holding in Google parent company, Alphabet.
LTGG Reflections: Beike
The LTGG team reflect on how Beike, China’s largest online house-buying platform, is disrupting the property market.
The anatomy of outliers
What characteristics do outperforming stocks have in common and how does the LTGG portfolio stack up?
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.
Leading the charge
We reveal the research behind one of the highest-profile investments in Baillie Gifford’s 113-year history.
LTGG Reflections: The trade desk
The Trade Desk, a recent LTGG investment, is disrupting a $350bn market and challenging Facebook and Google’s control of online advertising. The LTGG Team discuss the opportunities ahead.
Highlights video: Long Term Global Growth webinar
Client Director Tatjana Evans-MacLeod highlights the most notable discussion points from the recent LTGG webinar, in which investment managers Mark Urquhart, Gemma Barkhuizen and Linda Lin discussed turnover, valuation, China, ESG, and capacity.
LTGG Reflections: The roaring twenties
When we are caught up in the drama of the present, it can be hard to see the accelerated progress that accompanies it. With technology firmly in the driving seat, Scott Nisbet explains why he sees a decade of growth ahead.
LTGG Reflections: Atlassian
There are businesses which, to paraphrase a recent note from Mark Urquhart, are “quietly getting on with it”. The meeting that prompted this observation was with Sydney headquartered Atlassian. Learn more about our recent thoughts on the company in this month's 'Reflections'.
Looking back going forward
Twice a year we produce a Long Term Global Growth magazine called Looking Back Going Forward, which contains investment articles which we trust will be of interest. We are pleased to bring you the October 2020 issue
A gallery for growth
Much like an art curator, the role of the investment manager involves carefully selecting investments that will make a mark and grow in value over time.
Sensible nonsense
To stand the best chance of owning the winning companies of the 2030s, we should imagine how bizarre today’s ‘normal’ will seem when the next generation looks back.
Navigating noise
Navigating Noise, a video series brought to you by the Long Term Global Growth team, seeks to gather and share some of the thinking we find so valuable when investing for the long term.
A View from the Midst of the Pandemic
Technological developments over recent decades mean reality has outpaced the science fiction of his youth since Mark Urquhart joined Baillie Gifford almost 25 years ago.
AI: Learning on the job
Dubbed the new electricity, artificial intelligence is intrinsic to the strategy and operations of many companies in the Long Term Global Growth portfolio.
Calm reflection during the amygdala hijack
In times of stress stock markets, like people, often revert to act now, think later. Tim Garratt advocates doing the opposite.
Footprints and first steps
Mike Berners-Lee helps us to reassess how we calculate the environmental impact of the holdings within the LTGG portfolio.
Lessons from the Sonoran Desert
‘Lessons from the Sonoran Desert’ explores further the pioneering work of Professor Hendrik Bessembinder at Arizona State University, whose heroic feat of global number-crunching revealed extraordinary things about the nature of company returns.
Long-term talent
Gemma Barkhuizen and Robert Wilson recently joined the LTGG team as part of Baillie Gifford’s graduate training programme. Here they share their experiences, talk about what’s important to them, and give their view of LTGG’s way of looking at the world.
Looking back going forward
Twice a year we produce a Long Term Global Growth magazine called Looking Back Going Forward, which contains investment articles which we trust will be of interest. We are pleased to bring you the April 2020 issue.
When Milton met Billy
Shareholders seem to be obsessed with short-term profits. We aren’t. Scott Nisbet proposes an alternative path, where patience with the right companies is rewarded, and a less direct route to profitability can lead eventually to a more valuable outcome.
LTGG XV
The evolution of LTGG over the first 15 years.
Looking back going forward
In the latest edition of Looking Back Going Forward, John MacDougall looks back over the 15 years of Long Term Global Growth's history, reflecting on some of the holdings that have performed best, and the varied paths their share prices have followed.
Graham or growth?
In his latest paper, James Anderson discusses Ben Graham’s book The Intelligent Investor, the seminal work on Value investing that remains as valid today as it did when he wrote it seven decades ago. James considers the author’s views and their implications for Growth investing in the current environment.
Looking back going forward
Twice a year we produce a Long Term Global Growth magazine called Looking Back Going Forward, which contains investment articles which we trust will be of interest. We are pleased to bring you the October 2018 issue,
Looking back going forward
Twice a year we produce a Long Term Global Growth magazine called Looking Back Going Forward, which contains investment articles which we trust will be of interest. We are pleased to bring you the April 2018 issue.
Looking back going forward
Twice a year we produce a Long Term Global Growth magazine called Looking Back Going Forward, which contains investment articles which we trust will be of interest. We are pleased to bring you the October 2017 issue.
Looking back going forward
Twice a year we produce a Long Term Global Growth magazine called Looking Back Going Forward, which contains investment articles which we trust will be of interest. We are pleased to bring you the April 2017 issue.
Looking back going forward
Twice a year we produce a Long Term Global Growth magazine called Looking Back Going Forward, which contains investment articles which we trust will be of interest. We are pleased to bring you the October 2016 issue.
Looking back going forward
Twice a year we produce a Long Term Global Growth magazine called Looking Back Going Forward, which contains investment articles which we trust will be of interest. We are pleased to bring you the April 2016 issue.
Long Term Global Growth Q1 update
The Long Term Global Growth Team reflects on recent performance, portfolio changes and market developments.
LTGG Reflections: Know where your towel is
Why investors should avoid the temptation to throw in the towel during market turmoil.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.LTGG 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.LTGG 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.LTGG 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.LTGG Reflections: Private eyes
Our approach to private market investments and the AI new buy it led to.LTGG 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.LTGG 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.LTGG Reflections: From handbags to outliers
Exploring our enduring and high-performing luxury brand holdings and their investment potential.LTGG 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.LTGG 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: 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.LTGG 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.LTGG 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.LTGG Reflections: Llama mile
How the ecommerce giant is slashing delivery times with innovation and an unlikely courier fleetLong Term Global Growth Q4 update
The Long Term Global Growth Team reflects on recent performance, portfolio changes and market developments.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?The 3 traits of great growth stocks
Why real-world problem solving, financial discipline and adaptability are critical to growth.LTGG 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.LTGG Reflections: Solar innovations
Enphase's role in the solar revolution and the potential for long-term growth.LTGG third quarter 2023 update
A look at portfolio performance over the recent quarter-end.Long Term Global Growth Q3 update
The Long Term Global Growth Team reflects on recent performance, portfolio changes and market developments.LTGG Reflections: from biologics to branded fashion
In this monthly update, the team discusses recent research visits to WuXi, Symbotic and Moncler.LTGG 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.LTGG Reflections: The transformative potential of AI
Artificial intelligence is not as new as you think it is, as the LTGG portfolio reveals.Long Term Global Growth Q2 update
The Long Term Global Growth team reflects on recent performance, portfolio changes, and market developments.LTGG 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.LTGG Reflections: Kaizen – continuous improvement
Reflections on performance, holdings and continuous improvement.LTGG Reflections: Jevons paradox - a case for Samsara
How Samsara's data-driven insights help its customers optimise their business operations.Long Term Global Growth Q1 investment update
Long Term Global Growth Team reflects on recent performance, portfolio changes, and market developments.LTGG: 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?LTGG 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.LTGG 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.LTGG Reflections: Operational growth hurdles
Why growth is still possible in hard times.ASML: advancing chips to new limits
The Dutch firm driving progress by making it possible to create more intricate computer chips.The changing face of advertising
With data at the heart of digital advertising, advertising businesses now come in many forms.LTGG investor update
The LTGG Team share their thoughts on the portfolio, the current environment and what makes them optimistic about the future.LTGG Reflections: Engines of growth
Understanding why certain ideas lead to growth can boost the chances of outperformance.LTGG: climate progress update
Positive progress from a number of portfolio companies.LTGG: our companies’ character
An LTGG ESG update.LTGG Reflections: On tour
What do we learn from meeting management teams? That it’s good to be on the road again.LTGG Reflections: The fight for your free time
Disruptive change within the entertainment world creates a wealth of opportunity.LTGG Reflections: Company check in
We met holdings to track their progress as well as scouting out potential additions to the portfolio.LTGG Reflections: Second quarter 2022
Sailing in the Roaring Forties.LTGG Manager Update
The LTGG Team share their thoughts on what’s currently going on in the markets, what worries them and what they are excited about for the next 5-10 years.LTGG Reflections: Sea Ltd
LTGG unpacks the potential of a new holding in the fintech and gaming space.Jumpers in the hot wash
Tim Garratt considers how we value exciting businesses and reflects on what we lose when we fail to imagine.LTGG Reflections: The future of synthetic biology
How Ginkgo Bioworks is making advances in computing and DNA engineering.LTGG Reflections: A look back on Q1
The LTGG team consider recent performance and the long-term outlook for the fund.LTGG Reflections: Roblox
New holding, Roblox, aims to bring the world together through play. The LTGG Team take a closer look.LTGG Reflections: On short-term drawdowns
The LTGG team on short-term drawdowns and investing in era-defining companies.Long Term Global Growth: Team evolution
Scott Nisbet interviews the Long Term Global Growth decision-makers discussing volatility, inflation, interest rates, China and portfolio holdings: Roblox, SEA, Moderna and Coupang.ESG collaborations
Looking before we leap into industry initiatives.LTGG Reflections: Affirm
The LTGG team take a closer look at how Affirm plan to transform the consumer credit industry.ESG data: Filling in the gaps
LTGG is making efforts to improve environmental, social and governance metrics.LTGG Reflections: The return of the tartan army
LTGG on demanding huge returns, backing companies that rip up the rule books, and looking to the future.LTGG Reflections: Illumina
The genome sequencing specialist is playing a valuable role in the hunt for new treatments.Rules of the game
Regulation and what we look for in companies’ responses.Working it out
Adapting to the changing expectations of staff and society.Inside and out
A focus on diversity and inclusion can result in competitive advantage.LTGG Reflections: Looking for a contribution
The companies that LTGG invest in can turn their ability to improve society into a source of competitive advantage.China’s gen Z+
How the digital natives’ wants and needs create opportunities for forward-thinking Chinese companies.Staying engaged
What company engagement means to us.A question of character
How we integrate environmental, social and governance factors into our investment approach.Looking back going forward
In this edition of Looking Back Going Forward we explain how environmental, social and governance (ESG) considerations have been deeply embedded in our Long Term Global Growth strategy.LTGG Reflections: Carvana
Carvana, the US online car dealership, has a lofty but straightforward mission to change the way in which people buy cars.LTGG Reflections: China
The LTGG Team reason that where there’s transformational growth, the regulatory backdrop will evolve to keep up. That’s as true of China as it is elsewhere.LTGG Reflections: LTGG and the elixir of youth
LTGG’s Tim Garratt explains how the team have endeavoured to keep the portfolio youthful and forward looking.LTGG Reflections: Alphabet
The LTGG team explain why they decided to sell their clients’ holding in Google parent company, Alphabet.LTGG Reflections: Beike
The LTGG team reflect on how Beike, China’s largest online house-buying platform, is disrupting the property market.The anatomy of outliers
What characteristics do outperforming stocks have in common and how does the LTGG portfolio stack up?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.Leading the charge
We reveal the research behind one of the highest-profile investments in Baillie Gifford’s 113-year history.LTGG Reflections: The trade desk
The Trade Desk, a recent LTGG investment, is disrupting a $350bn market and challenging Facebook and Google’s control of online advertising. The LTGG Team discuss the opportunities ahead.Highlights video: Long Term Global Growth webinar
Client Director Tatjana Evans-MacLeod highlights the most notable discussion points from the recent LTGG webinar, in which investment managers Mark Urquhart, Gemma Barkhuizen and Linda Lin discussed turnover, valuation, China, ESG, and capacity.LTGG Reflections: The roaring twenties
When we are caught up in the drama of the present, it can be hard to see the accelerated progress that accompanies it. With technology firmly in the driving seat, Scott Nisbet explains why he sees a decade of growth ahead.LTGG Reflections: Atlassian
There are businesses which, to paraphrase a recent note from Mark Urquhart, are “quietly getting on with it”. The meeting that prompted this observation was with Sydney headquartered Atlassian. Learn more about our recent thoughts on the company in this month's 'Reflections'.Looking back going forward
Twice a year we produce a Long Term Global Growth magazine called Looking Back Going Forward, which contains investment articles which we trust will be of interest. We are pleased to bring you the October 2020 issueA gallery for growth
Much like an art curator, the role of the investment manager involves carefully selecting investments that will make a mark and grow in value over time.Sensible nonsense
To stand the best chance of owning the winning companies of the 2030s, we should imagine how bizarre today’s ‘normal’ will seem when the next generation looks back.Navigating noise
Navigating Noise, a video series brought to you by the Long Term Global Growth team, seeks to gather and share some of the thinking we find so valuable when investing for the long term.A View from the Midst of the Pandemic
Technological developments over recent decades mean reality has outpaced the science fiction of his youth since Mark Urquhart joined Baillie Gifford almost 25 years ago.AI: Learning on the job
Dubbed the new electricity, artificial intelligence is intrinsic to the strategy and operations of many companies in the Long Term Global Growth portfolio.Calm reflection during the amygdala hijack
In times of stress stock markets, like people, often revert to act now, think later. Tim Garratt advocates doing the opposite.Footprints and first steps
Mike Berners-Lee helps us to reassess how we calculate the environmental impact of the holdings within the LTGG portfolio.Lessons from the Sonoran Desert
‘Lessons from the Sonoran Desert’ explores further the pioneering work of Professor Hendrik Bessembinder at Arizona State University, whose heroic feat of global number-crunching revealed extraordinary things about the nature of company returns.Long-term talent
Gemma Barkhuizen and Robert Wilson recently joined the LTGG team as part of Baillie Gifford’s graduate training programme. Here they share their experiences, talk about what’s important to them, and give their view of LTGG’s way of looking at the world.Looking back going forward
Twice a year we produce a Long Term Global Growth magazine called Looking Back Going Forward, which contains investment articles which we trust will be of interest. We are pleased to bring you the April 2020 issue.When Milton met Billy
Shareholders seem to be obsessed with short-term profits. We aren’t. Scott Nisbet proposes an alternative path, where patience with the right companies is rewarded, and a less direct route to profitability can lead eventually to a more valuable outcome.LTGG XV
The evolution of LTGG over the first 15 years.Looking back going forward
In the latest edition of Looking Back Going Forward, John MacDougall looks back over the 15 years of Long Term Global Growth's history, reflecting on some of the holdings that have performed best, and the varied paths their share prices have followed.Graham or growth?
In his latest paper, James Anderson discusses Ben Graham’s book The Intelligent Investor, the seminal work on Value investing that remains as valid today as it did when he wrote it seven decades ago. James considers the author’s views and their implications for Growth investing in the current environment.Looking back going forward
Twice a year we produce a Long Term Global Growth magazine called Looking Back Going Forward, which contains investment articles which we trust will be of interest. We are pleased to bring you the October 2018 issue,Looking back going forward
Twice a year we produce a Long Term Global Growth magazine called Looking Back Going Forward, which contains investment articles which we trust will be of interest. We are pleased to bring you the April 2018 issue.Looking back going forward
Twice a year we produce a Long Term Global Growth magazine called Looking Back Going Forward, which contains investment articles which we trust will be of interest. We are pleased to bring you the October 2017 issue.Looking back going forward
Twice a year we produce a Long Term Global Growth magazine called Looking Back Going Forward, which contains investment articles which we trust will be of interest. We are pleased to bring you the April 2017 issue.Looking back going forward
Twice a year we produce a Long Term Global Growth magazine called Looking Back Going Forward, which contains investment articles which we trust will be of interest. We are pleased to bring you the October 2016 issue.Looking back going forward
Twice a year we produce a Long Term Global Growth magazine called Looking Back Going Forward, which contains investment articles which we trust will be of interest. We are pleased to bring you the April 2016 issue.
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