Capital at risk
Worldwide Discovery
The strategy seeks ambitious, rare companies that could shape our future by solving today’s most important, complex problems. We aim to find them at an early stage and hold them for the long term as they scale.
Investing in the immature and innovative
Unearthing the transformational growth companies of the next decade when they’re small and nimble, hoping to reap rewards by holding them as they experience the most exciting phases of growth.
Harnessing asymmetry
Worldwide Discovery is a global smaller companies equities strategy. It invests in disruptive companies, with a range of possible outcomes.
This can lead to volatility but can increase the chance of a highly asymmetrical outcome.
The strategy aims to outperform (net of fees) the MSCI ACWI Small Cap Index, mainly through capital appreciation, over rolling five-year periods.
We consider opportunities below $10bn but believe immaturity, not size, is the best proxy for potential. We hold based on conviction, not market cap.
Discovery Q3 update
The Discovery Team reflects on recent performance, portfolio changes and market developments.
We established the Discovery strategy to capture the opportunity in the enduring supercycle of innovation.
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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 | Alnylam Pharmaceuticals | 8.4% |
| 2 | Axon Enterprise Inc | 5.8% |
| 3 | AeroVironment | 5.0% |
| 4 | Zillow Group Inc Class C | 4.3% |
| 5 | Oxford Nanopore Technologies PLC | 4.2% |
| 6 | Exact Sciences | 3.7% |
| 7 | MarketAxess Holdings | 3.1% |
| 8 | CyberArk Software Ltd | 2.6% |
| 9 | MercadoLibre | 2.5% |
| 10 | Ocado | 2.5% |
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 through other vehicles
Get in touch to learn about the other ways to invest, including:
- Separate account
Insights
Key articles, videos and podcasts relating to the strategy:
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Insights
Small cap strife: big opportunities
Exploring the transformative potential of small-cap companies such as DexCom, Tesla and Axon.
Discovery Q3 update
The Discovery Team reflects on recent performance, portfolio changes and market developments.
Future Stocks: Our best disruptive ideas
Bill Chater spotlights three companies set to make world-changing breakthroughs.
Discovery Q2 update
The Discovery Team reflects on recent performance, portfolio changes and market developments.
Small caps: Beyond the myths
Opportunities remain in small-cap investing, regardless of interest rates or market volatility.
Discovery Q3 update
The Discovery Team reflects on recent performance, portfolio changes and market developments.
Small cap strife: big opportunities
Exploring the transformative potential of small-cap companies such as DexCom, Tesla and Axon.Discovery Q3 update
The Discovery Team reflects on recent performance, portfolio changes and market developments.Future Stocks: Our best disruptive ideas
Bill Chater spotlights three companies set to make world-changing breakthroughs.Discovery Q2 update
The Discovery Team reflects on recent performance, portfolio changes and market developments.Small caps: Beyond the myths
Opportunities remain in small-cap investing, regardless of interest rates or market volatility.
Invest through other vehicles
Get in touch to learn about the other ways to invest, including:
- Separate account
Invest through other vehicles
Get in touch to learn about the other ways to invest, including:
- Separate account