Capital at risk
Global Alpha
Our core task is the identification and patient, engaged ownership of companies with the potential to deliver superior but underappreciated earnings growth. We are flexible and open-minded in seeking these opportunities, aware of the ways growth can be achieved. Our research draws on the work and insights of the entire Baillie Gifford investment floor.
Enduring growth
An ambitious approach to investing in growth companies with exceptional potential from right across the spectrum of opportunity. Our philosophy is to make long-term investments in well-managed businesses with sustainable competitive advantages.
Global Alpha: our philosophy
Investment manager Helen Xiong introduces Global Alpha, reflecting on the exciting opportunities ahead.
High-quality companies with exceptional potential
We aim to identify companies that can grow their earnings at a superior rate to the market over sustained periods, with great potential that is not reflected in their price. As share prices are ultimately driven by earnings growth, this approach underpins our objective to deliver returns 2 per cent to 3 per cent per annum ahead of the benchmark over rolling five-year periods before the deduction of fees. The resulting portfolio of around 90 holdings represents the most attractive opportunities from across the growth spectrum at any point in time.
Diversified and differentiated
We embrace the diversity of growth available to us, splitting the portfolio across our three growth profiles – compounders, disruptors and capital allocators. The compounders profile looks to benefit from the underappreciated power of the long-term compounding of earnings. In disruptors, we seek to identify earlier-stage companies with the potential for major success. 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
Documents
Philosophy and process
Explore our investment philosophy and the processes around how the Global Alpha team construct the portfolio through its three key growth profiles (compounders, disruptors and capital allocators).
Quarterly update
Get the latest investment commentary, portfolio overview, transactions and performance information alongside governance engagement and voting.
Global Alpha Research Agenda 2024
How can we invest in quality companies with the potential to generate sustainable returns in a changing market?
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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.
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 | Meta Platforms Inc | 3.9% |
| 2 | Microsoft | 3.8% |
| 3 | Martin Marietta Materials | 3.7% |
| 4 | Amazon.com | 3.7% |
| 5 | Elevance Health Inc | 3.4% |
| 6 | Ryanair ADR | 3.0% |
| 7 | CRH | 2.9% |
| 8 | Moody's | 2.9% |
| 9 | Reliance Inds. GDR | 2.5% |
| 10 | TSMC | 2.3% |
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.
Insights
Key articles, videos and podcasts relating to the strategy:
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Insights
Global Alpha Q1 update
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.
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?
Global Alpha Q4 update
The Global Alpha 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.
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.
Global Alpha Q3 update
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.
Global Alpha Stewardship Report
2022 update including company engagements, audit, ESG metrics, and voting record.
Global Alpha Q2 update
The Global Alpha team reflects on recent performance, portfolio changes, and market developments.
Making health insurance manageable
How Elevance Health uses its scale to smooth a path through the US health system’s maze.
Global Alpha Q1 update
Global Alpha Team reflects on recent performance, portfolio changes, and market developments.
Global Alpha Research Agenda 2023
How can we invest in quality companies with the potential to generate sustainable returns in a changing market?
Digital Disruption and the future
Online infrastructures and digital developments in the education, energy, and transport sectors make for an exciting future.
Global Alpha 2022 Research Agenda
In their Research Agenda for 2022, the investment managers consider the benefits of deep work in helping them find growth opportunities.
A dream within reach
New technologies, plummeting costs and our own changing behaviours all promise progress in the energy transition– just don’t expect it to come in a straight line.
Growth or value: it’s not a black or white choice
Operational performance is a better indicator of growth than inflation. Malcolm MacColl shares why.
Global Alpha Stewardship Report 2021
For the year to 30 September 2021.
Harnessing growth for the next decade
Investment manager Malcolm MacColl and Senior Governance and Sustainability Analyst Kieran Murray outline believed growth drivers and the development of Global Alpha’s ESG process.
Highlights Video: Harnessing growth for the next decade
Watch the highlights from the recent Global Alpha webinar: Harnessing growth for the next decade.
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.
Global Alpha Stewardship Report.
Our goal as investors is the identification and nurturing of companies capable of outstanding long-term returns. The excellent studies of Professor Hank Bessembinder and others make clear that long-run wealth creation is dominated by a remarkably small number of extraordinary companies, often powering technological or societal change.
Global Alpha – Mental Models Highlights
Client director Jon Henry talks through the highlights of the recent Global Alpha webinar on ‘Mental Models’, a concept introduced earlier this year in the Global Alpha Research Agenda.
Staying Ahead of Change.
Few things matter more to an investor than understanding and anticipating change. As we celebrate 15 years of Global Alpha, we share some thoughts on how the portfolio, our process and the team have developed over time.
Global Alpha - 10 minutes with Helen Xiong
Ben Drury, client director, talks to Helen Xiong, an investor and soon-to-be key decision-maker for the Global Alpha strategy.
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 Q1 investment update
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.
Related insights
Global Alpha Q1 update
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.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?Global Alpha Q4 update
The Global Alpha 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.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.Global Alpha Q3 update
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.Global Alpha Stewardship Report
2022 update including company engagements, audit, ESG metrics, and voting record.Global Alpha Q2 update
The Global Alpha team reflects on recent performance, portfolio changes, and market developments.Making health insurance manageable
How Elevance Health uses its scale to smooth a path through the US health system’s maze.Global Alpha Q1 update
Global Alpha Team reflects on recent performance, portfolio changes, and market developments.Global Alpha Research Agenda 2023
How can we invest in quality companies with the potential to generate sustainable returns in a changing market?Digital Disruption and the future
Online infrastructures and digital developments in the education, energy, and transport sectors make for an exciting future.Global Alpha 2022 Research Agenda
In their Research Agenda for 2022, the investment managers consider the benefits of deep work in helping them find growth opportunities.A dream within reach
New technologies, plummeting costs and our own changing behaviours all promise progress in the energy transition– just don’t expect it to come in a straight line.Growth or value: it’s not a black or white choice
Operational performance is a better indicator of growth than inflation. Malcolm MacColl shares why.Global Alpha Stewardship Report 2021
For the year to 30 September 2021.Harnessing growth for the next decade
Investment manager Malcolm MacColl and Senior Governance and Sustainability Analyst Kieran Murray outline believed growth drivers and the development of Global Alpha’s ESG process.Highlights Video: Harnessing growth for the next decade
Watch the highlights from the recent Global Alpha webinar: Harnessing growth for the next decade.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.Global Alpha Stewardship Report.
Our goal as investors is the identification and nurturing of companies capable of outstanding long-term returns. The excellent studies of Professor Hank Bessembinder and others make clear that long-run wealth creation is dominated by a remarkably small number of extraordinary companies, often powering technological or societal change.Global Alpha – Mental Models Highlights
Client director Jon Henry talks through the highlights of the recent Global Alpha webinar on ‘Mental Models’, a concept introduced earlier this year in the Global Alpha Research Agenda.Staying Ahead of Change.
Few things matter more to an investor than understanding and anticipating change. As we celebrate 15 years of Global Alpha, we share some thoughts on how the portfolio, our process and the team have developed over time.Global Alpha - 10 minutes with Helen Xiong
Ben Drury, client director, talks to Helen Xiong, an investor and soon-to-be key decision-maker for the Global Alpha strategy.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.
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.
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.
Important information
The content of this website is intended exclusively for professional investors in accordance with MiFID legislation. ’Professional investors’ are potential investors who are deemed to have the status of “professional clients”, within the meaning of MiFID (2004/39/EC), as transposed in Ireland. It is not intended for retail investors.
Baillie Gifford Investment Management (Europe) Limited is authorised and regulated by the Central Bank of Ireland (Reference number C182354) as an Alternative Investment Fund Manager and UCITS Manager to Baillie Gifford Worldwide Funds plc. Its registered office is 4/5 School House Lane East, Dublin 2, D02 N279, Ireland.
This website is informative only and the information provided should not be considered as investment or other advice or a recommendation to buy, sell or hold a particular investment. Read our Legal and regulatory information for further details.