Capital at risk
Responsible Global Alpha
Our core task is the patient, engaged ownership of responsible companies with the potential to deliver superior but underappreciated earnings growth.
A diverse range of responsible companies
An ambitious approach to investing in responsible growth companies from right across the spectrum of opportunity. We are flexible in seeking these opportunities, recognising the valuable diversity of ways in which growth can be achieved.
Global Alpha: our philosophy
Investment manager Helen Xiong introduces Global Alpha, reflecting on the exciting opportunities ahead.
A truly global portfolio
We aim to identify companies which can grow their earnings at a superior rate to the market over sustained periods, where this potential is not reflected in the price.
As share prices are ultimately driven by earnings growth, this approach underpins our objective to deliver returns 2 to 3 per cent per annum ahead of the benchmark over rolling five-year periods before the deduction of fees. The strategy also excludes investment in companies which fail to meet our criteria for responsible behaviour.
Our research draws on the work and insights of the entire Baillie Gifford investment floor.
Attractive opportunities from across the spectrum
Our philosophy is to invest long-term in well-managed businesses with sustainable competitive advantages. We embrace diversity, splitting the portfolio of around 90 holdings across our three growth profiles:
Compounders aim to exploit the power of earnings compounding. Disruptors seek to identify early-stage firms with explosive potential. Capital allocators back skilled management teams, often in cyclical industries.
At the heart of Global Alpha’s patient approach to long-term capital growth lies our belief in diversity. We don’t rely on a single definition of what ‘growth’ means.
Meet the managers
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Philosophy and process
Explore our investment philosophy and the processes around how the team constructs the portfolio.
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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 October 2025
| # | Company | Fund % |
|---|---|---|
| 1 | NVIDIA | 6.2% |
| 2 | Microsoft | 4.5% |
| 3 | TSMC | 4.4% |
| 4 | Amazon.com | 4.3% |
| 5 | Meta Platforms Inc | 4.1% |
| 6 | Prosus N.V. | 3.9% |
| 7 | Alphabet Inc Class C | 2.2% |
| 8 | Doordash Inc | 2.2% |
| 9 | Martin Marietta Materials | 2.1% |
| 10 | Mastercard | 2.1% |
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.
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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
Global Alpha insights: the grid for growth
AI’s massive electricity needs create compelling investment opportunities.
Global Alpha Q3 update
Investment manager Michael Taylor reflects on recent performance, portfolio changes and market developments.
Global Alpha Q3 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.
Global Alpha insights: the future of finance
Coinbase is reshaping finance by uniting digital assets, stablecoins and trust.
Salesforce: putting AI agents to work
Agentforce’s promise of handling customer service 24/7, faster and at a lower cost.
Global Alpha insights: onsemi
How the chip maker reinvented itself from ugly duckling to industry leader.
Global Alpha insights: power-up mode
Turning a potential AI threat into a strategic advantage, what is software company EPAM Systems' game plan?
Global Alpha Q2 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.
Global Alpha Q2 update
Investment manager Helen Xiong reflects on recent performance, portfolio changes and market developments.
Uncommon understanding
Global Alpha’s investment managers reveal how they spot what others don’t see.
Global Alpha: an enduring focus in a changing world
Explore 20 years of Global Alpha in our anthology of articles covering the past, present and future.
Global Alpha insights: infrastructure
Why companies like Martin Marietta are set to benefit from increased spending on infrastructure.
Actual investing revisited
In this keynote paper Partner Stuart Dunbar reaffirms the importance of active management to healthy capitalism.
Global Alpha: introducing Michael Taylor
Investment manager Michael Taylor joins Global Alpha as a decision-maker. We explore his background, strengths, and vision for the portfolio’s future opportunities.
Global Alpha insights: turbulent times
How can we participate in long-term progress without it being undone by every policy turn?
Global Alpha Q1 update
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.
Global Alpha Q1 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.
Global Alpha insights: a time to trade?
Explore how we're evolving the portfolio as the investment environment enters a period of rapid change.
Cloudflare: Stock Story
Ben James highlights how one cybersecurity approach is redefining digital infrastructure.
DoorDash: delivering the goods
How DoorDash’s ambitions extend far beyond restaurant deliveries.
Global Alpha Insights: investing in resilience beyond political cycles
Why the Global Alpha Team believes elections don't impact stock market returns.
Global Alpha Q4 update
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.
Global Alpha Q4 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.
Global Alpha insights: Rakuten and the 'Dog Shogun'
Richie Vernon, investment specialist, explains why the Global Alpha Team has a different perspective on Rakuten's future market growth.
Why growth investors can’t ignore China
China’s electric car, battery and other advanced manufacturers are on the rise.
Global Alpha insights: unlocking the magic of Disney
Why the Global Alpha Team believes there is a magical journey ahead for Disney.
Our best ideas in the US
Ben James explains why DoorDash, The Trade Desk and CoStar stand out as growth stocks in the US.
Eric Beinhocker: evolutionary economist
How successful companies harness the power of adaptation.
Beyond NVIDIA: investing in semiconductors
Why some of the leading computer chip makers and companies enabling them have room to grow.
China: the new shoots of growth
Why advanced manufacturing and social context are key to investing in tomorrow’s Chinese giants.
The US building bonanza
America’s infrastructure upgrade plan vastly exceeds its spending on rebuilding post-war Europe.
Global Alpha Research Agenda
From AI to infrastructure – Global Alpha homes in on the growth areas and companies best placed to exploit opportunities.
Global Alpha: back to growth
The managers tell a London Investment Forum about new sources of opportunity and optimism.
Moderna: designing drugs on a computer
Can scientists meet unmet health needs by writing code to help the body heal itself?
Why growth, why now?
Tough times play to the partnership’s strengths: analysing what enables us to adapt and thrive amid rapid change.
How Microsoft got its mojo back
By shifting the focus from Windows and embracing AI, the firm has revitalised its fortunes.
Global Alpha: manager update
The managers discuss the market environment, portfolio positioning and current opportunities.
Making health insurance manageable
How Elevance Health uses its scale to smooth a path through the US health system’s maze.
Global Alpha Research Agenda 2023
How can we invest in quality companies with the potential to generate sustainable returns in a changing market?
The importance of looking forward
This recording has been prepared for professional investors and is not for further distribution. Baillie Gifford takes no responsibility for the reliance on this recording by any other person who did not receive this recording from Baillie Gifford.
Back to the future
This webinar has been prepared solely for the use of professional investors outside of the Unites States and is not for further distribution. Baillie Gifford takes no responsibility for the reliance on this webinar by any other person who did not receive this webinar from Baillie Gifford.
Global Alpha Q3 update
Investment manager Michael Taylor reflects on recent performance, portfolio changes and market developments.
Global Alpha insights: the grid for growth
AI’s massive electricity needs create compelling investment opportunities.Global Alpha Q3 update
Investment manager Michael Taylor reflects on recent performance, portfolio changes and market developments.Global Alpha Q3 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.Global Alpha insights: the future of finance
Coinbase is reshaping finance by uniting digital assets, stablecoins and trust.Salesforce: putting AI agents to work
Agentforce’s promise of handling customer service 24/7, faster and at a lower cost.Global Alpha insights: onsemi
How the chip maker reinvented itself from ugly duckling to industry leader.Global Alpha insights: power-up mode
Turning a potential AI threat into a strategic advantage, what is software company EPAM Systems' game plan?Global Alpha Q2 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.Global Alpha Q2 update
Investment manager Helen Xiong reflects on recent performance, portfolio changes and market developments.Uncommon understanding
Global Alpha’s investment managers reveal how they spot what others don’t see.Global Alpha: an enduring focus in a changing world
Explore 20 years of Global Alpha in our anthology of articles covering the past, present and future.Global Alpha insights: infrastructure
Why companies like Martin Marietta are set to benefit from increased spending on infrastructure.Actual investing revisited
In this keynote paper Partner Stuart Dunbar reaffirms the importance of active management to healthy capitalism.Global Alpha: introducing Michael Taylor
Investment manager Michael Taylor joins Global Alpha as a decision-maker. We explore his background, strengths, and vision for the portfolio’s future opportunities.Global Alpha insights: turbulent times
How can we participate in long-term progress without it being undone by every policy turn?Global Alpha Q1 update
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.Global Alpha Q1 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.Global Alpha insights: a time to trade?
Explore how we're evolving the portfolio as the investment environment enters a period of rapid change.Cloudflare: Stock Story
Ben James highlights how one cybersecurity approach is redefining digital infrastructure.DoorDash: delivering the goods
How DoorDash’s ambitions extend far beyond restaurant deliveries.Global Alpha Insights: investing in resilience beyond political cycles
Why the Global Alpha Team believes elections don't impact stock market returns.Global Alpha Q4 update
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.Global Alpha Q4 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.Global Alpha insights: Rakuten and the 'Dog Shogun'
Richie Vernon, investment specialist, explains why the Global Alpha Team has a different perspective on Rakuten's future market growth.Why growth investors can’t ignore China
China’s electric car, battery and other advanced manufacturers are on the rise.Global Alpha insights: unlocking the magic of Disney
Why the Global Alpha Team believes there is a magical journey ahead for Disney.Our best ideas in the US
Ben James explains why DoorDash, The Trade Desk and CoStar stand out as growth stocks in the US.Eric Beinhocker: evolutionary economist
How successful companies harness the power of adaptation.Beyond NVIDIA: investing in semiconductors
Why some of the leading computer chip makers and companies enabling them have room to grow.China: the new shoots of growth
Why advanced manufacturing and social context are key to investing in tomorrow’s Chinese giants.The US building bonanza
America’s infrastructure upgrade plan vastly exceeds its spending on rebuilding post-war Europe.Global Alpha Research Agenda
From AI to infrastructure – Global Alpha homes in on the growth areas and companies best placed to exploit opportunities.Global Alpha: back to growth
The managers tell a London Investment Forum about new sources of opportunity and optimism.Moderna: designing drugs on a computer
Can scientists meet unmet health needs by writing code to help the body heal itself?Why growth, why now?
Tough times play to the partnership’s strengths: analysing what enables us to adapt and thrive amid rapid change.How Microsoft got its mojo back
By shifting the focus from Windows and embracing AI, the firm has revitalised its fortunes.Global Alpha: manager update
The managers discuss the market environment, portfolio positioning and current opportunities.Making health insurance manageable
How Elevance Health uses its scale to smooth a path through the US health system’s maze.Global Alpha Research Agenda 2023
How can we invest in quality companies with the potential to generate sustainable returns in a changing market?The importance of looking forward
This recording has been prepared for professional investors and is not for further distribution. Baillie Gifford takes no responsibility for the reliance on this recording by any other person who did not receive this recording from Baillie Gifford.Back to the future
This webinar has been prepared solely for the use of professional investors outside of the Unites States and is not for further distribution. Baillie Gifford takes no responsibility for the reliance on this webinar by any other person who did not receive this webinar from Baillie Gifford.
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 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.