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: 31 March 2024
| # | Company | Fund % |
|---|---|---|
| 1 | Shopify 'A' | 8.4% |
| 2 | Amazon.com | 8.3% |
| 3 | The Trade Desk | 7.8% |
| 4 | NVIDIA | 7.6% |
| 5 | Meta Platforms Inc | 5.4% |
| 6 | Doordash Inc | 4.8% |
| 7 | Netflix Inc | 4.8% |
| 8 | Cloudflare Inc | 3.8% |
| 9 | Tesla Inc | 3.6% |
| 10 | Moderna Inc | 3.6% |
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.
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.
Insights
Key articles, videos and podcasts relating to the strategy:
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Insights
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.
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.
US Equity Growth Q1 update
The US Equity Growth Team reflects on recent performance, portfolio changes and market developments.
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.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.
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.