Overview
ISIN
GG00BJ0CDD21SEDOL
BJ0CDD2Investment proposition
The Schiehallion Fund Limited seeks to generate capital growth for investors through long-term minority investments in later stage private businesses that the Company considers to have transformational growth potential and to have the potential to become publicly traded.
Share price and charges
Price
112.50cNAV at fair
160.88cPremium (+) or discount (-) at fair
-30.1%Ongoing charges*
0.92%Fund facts
Fund launch date
2019
AIC Investment Sector
Growth Capital
Ratings
Meet the managers
Meet the directors
AGM, voting and registrar details
AGM
Thursday 22 May 2025 at the offices of Alter Domus (Guernsey) Limited, North Suite First Floor, Regency Court, Glategny Esplanade, GY1 1WW, at 11:15am.
Voting
Access information on votes cast by Baillie Gifford during the previous quarter on behalf of the investment trust in the Proxy voting disclosure.
Registrar
Computershare Investor Services (Guernsey) Limited,
1st Floor, Tudor House,
Le Bordage,
St Peter Port,
Guernsey, GY1 1DB, with registered number 50855
Regulatory news announcements
Regulatory news announcements which are released to the London Stock Exchange can be accessed via their service.
The Association of Investment Companies
Further information on investment trusts and the investment trust sector can be found on The Association of Investment Companies website.
Risks
The Company's shares are admitted to trading on the Specialist Fund Segment of the London Stock Exchange. The value of its shares, and any income from them, can fall as well as rise and investors may not get back the amount invested. The specific risks associated with the Trust include:
Investments that are subject to low trading volume, lack of a market maker, or regulatory restrictions may not be possible to sell at a particular time or at an acceptable price. Large positions held in securities of particular issues may decrease the liquidity of any investments.
Risk is increased by holding fewer investments than a typical fund and the effect of this, together with a long-term approach to investment, could result in large movements in the share price.
Private Company assets may be more difficult to buy or sell, so changes in their prices may be greater. There is no guarantee that private companies will become publicly traded companies in the future.
The price of the Company’s shares may be highly volatile and at a discount to the Company’s net asset value per share. Shareholdings in the Company are likely to be illiquid.
Important information
Baillie Gifford Overseas Limited is wholly owned by Baillie Gifford & Co. Baillie Gifford Overseas Limited provides investment management and advisory services to non-UK clients. Both are authorised and regulated by the Financial Conduct Authority.
The information provided does not constitute an offer of or solicitation for purchase or sale of securities or provision of any investment services. Any general enquiries regarding Baillie Gifford should be directed to the relevant individual as noted in the Contact Us section.
The information contained in this website has been compiled with considerable care to ensure its accuracy at the date of publication. However, no representation or warranty, express or implied, is made to its accuracy or completeness. Nothing in this information or elsewhere in this website shall exclude, limit or restrict our duties and liabilities to you under the United Kingdom's Financial Services and Markets Act 2000 or any conduct of business rules which we are bound to comply with.
This website is informative only and the information provided should not be considered as investment advice or a recommendation to buy, sell or hold a particular investment. Read our Legal and regulatory information for further details.
Fund performance
Periodic Performance
As at: 31 October 2025
1 Year | 3 Years | 5 Years | 10 Years | |
|---|---|---|---|---|
Share Price | 49.8% | 32.2% | -8.0% | n/a |
NAV | 37.4% | 29.0% | 39.1% | n/a |
Discrete Performance
As at: 30 September 2025
30/09/2020 – 30/09/2021 | 30/09/2021 – 30/09/2022 | 30/09/2022 – 30/09/2023 | 30/09/2023 – 30/09/2024 | 30/09/2024 – 30/09/2025 | |
|---|---|---|---|---|---|
Share Price | 91.6% | -48.6% | -55.6% | 37.4% | 45.6% |
NAV | 58.8% | -29.5% | -17.8% | 12.8% | 34.3% |
Performance
As at: 31 October 2025
Source: Morningstar.
Performance figures appear in USD. Please bear in mind that past performance is not a guide to future returns. The value of your investment may go down as well as up, and you may not get back the amount you invested.
The graph has been rebased to 100.
Fund portfolio holdings
The list of top 10 holdings that this fund invests in.
As at: 31 October 2025
| # | Holding | % of total assets |
|---|---|---|
| 1 | Bending Spoons | 15.5% |
| 2 | ByteDance Ltd. | 8.0% |
| 3 | Space Exploration Technologies | 7.5% |
| 4 | Affirm | 4.9% |
| 5 | Tempus AI Inc | 4.4% |
| 6 | Databricks | 3.9% |
| 7 | Wise | 3.8% |
| 8 | Wayve | 3.3% |
| 9 | Stripe | 3.1% |
| 10 | Tekever Holdings SA | 3.0% |
Insights
Key articles, videos and podcasts relating to the fund:
Filters
Insights

Private growth: the underappreciated opportunity
Why the asset class offers patient investors access to exceptional companies.
Private companies: from Anthropic to Zetwerk
Why we invested in the AI lab and supply chain specialist, among other companies operating in private markets.
When machines feel human
When machines speak, do we meet minds, or our own reflection?
Why we are backing Anthropic
Our investment thesis for the AI frontrunner.
The Schiehallion Fund investment update
Peter Singlehurst reflects on recent performance, portfolio changes and market developments.
Our best private growth ideas
Rachael Callaghan introduces us to growth-focused private companies BillionToOne, Stripe and Vinted.
Lights, camera, AI
From storyboard to final cut, Runway is changing how films get made.
Private Companies Q2 update
Investment manager Tara Sallis reflects on recent portfolio changes and market developments.
The Next Chapter
Baillie Gifford trusts showcase private market focus and AI optimism at annual investment conference.
Schiehallion Fund: Manager Insights
Reflections on performance, portfolio companies and opportunities for returns in the year ahead.
Schiehallion Fund: finding opportunity amid uncertainty
An update from fund managers Peter Singlehurst and Robert Natzler, covering investment trends, portfolio performance, and market outlook.
The case for private growth equity
How companies like Stripe, Databricks and SpaceX are shaking up growth trends typically dominated by public markets.
The Schiehallion Fund Q1 update
The Private Companies Team reflects on recent performance, portfolio changes and market developments.
Private growth: Looking over the overlooked
Learn more about the key features and attributes of the growth equity asset class.
Private Companies Q4 update
The Private Companies Team reflects on recent performance, portfolio changes and market developments.
Private equities: time to turn to growth
Why high interest rates help rapid growth private companies with proven products stand apart.
Schiehallion: manager update
An update from fund managers Peter Singlehurst and Robert Natzler, covering investment trends, portfolio performance, and market outlook
Schiehallion: Manager Insights
Reflections on performance, portfolio companies and opportunities for returns in the year ahead.
The hidden costs of software
A decade ago, software companies were venture-backed and capital-light. That’s no longer true.
What is private company investing?
Discover what private company investing is, and why our decades of institutional knowledge of exceptional growth companies gives us an advantage.
Why the distinction between public and private markets is wrong
Peter Singlehurst discusses private company investing on the 20VC podcast.
Why private companies matter more
SpaceX, Epic Games and Stripe: the list of the unlisted continues to grow. How can investors benefit?

Private growth: the underappreciated opportunity
Why the asset class offers patient investors access to exceptional companies.
Private companies: from Anthropic to Zetwerk
Why we invested in the AI lab and supply chain specialist, among other companies operating in private markets.
When machines feel human
When machines speak, do we meet minds, or our own reflection?
Why we are backing Anthropic
Our investment thesis for the AI frontrunner.
The Schiehallion Fund investment update
Peter Singlehurst reflects on recent performance, portfolio changes and market developments.
Our best private growth ideas
Rachael Callaghan introduces us to growth-focused private companies BillionToOne, Stripe and Vinted.
Lights, camera, AI
From storyboard to final cut, Runway is changing how films get made.
Private Companies Q2 update
Investment manager Tara Sallis reflects on recent portfolio changes and market developments.
The Next Chapter
Baillie Gifford trusts showcase private market focus and AI optimism at annual investment conference.
Schiehallion Fund: Manager Insights
Reflections on performance, portfolio companies and opportunities for returns in the year ahead.
Schiehallion Fund: finding opportunity amid uncertainty
An update from fund managers Peter Singlehurst and Robert Natzler, covering investment trends, portfolio performance, and market outlook.
The case for private growth equity
How companies like Stripe, Databricks and SpaceX are shaking up growth trends typically dominated by public markets.
The Schiehallion Fund Q1 update
The Private Companies Team reflects on recent performance, portfolio changes and market developments.
Private growth: Looking over the overlooked
Learn more about the key features and attributes of the growth equity asset class.
Private Companies Q4 update
The Private Companies Team reflects on recent performance, portfolio changes and market developments.
Private equities: time to turn to growth
Why high interest rates help rapid growth private companies with proven products stand apart.
Schiehallion: manager update
An update from fund managers Peter Singlehurst and Robert Natzler, covering investment trends, portfolio performance, and market outlook
Schiehallion: Manager Insights
Reflections on performance, portfolio companies and opportunities for returns in the year ahead.
The hidden costs of software
A decade ago, software companies were venture-backed and capital-light. That’s no longer true.
What is private company investing?
Discover what private company investing is, and why our decades of institutional knowledge of exceptional growth companies gives us an advantage.
Why the distinction between public and private markets is wrong
Peter Singlehurst discusses private company investing on the 20VC podcast.
Why private companies matter more
SpaceX, Epic Games and Stripe: the list of the unlisted continues to grow. How can investors benefit?
Documents
You can access any literature about the Fund here.
To download any document you will need Adobe Reader. Please note that we can now provide you with Braille and audio transcriptions of our literature on request. It may take up to 10 days for the transcription to be completed dependent on the size of the document.


