Capital at risk
UK Alpha
We invest in a small collection of tremendously exciting UK businesses. Many may not be household names, but they are typically leaders in their fields with attractive competitive positions that rivals find hard to match.
We pride ourselves on the strength of our relationships with companies and the level of corporate access and insight this affords us.
A carefully selected portfolio
This is a punchy, concentrated portfolio of 30-50 carefully selected British businesses. We typically invest in them for at least five years to take full advantage of their strengths as they emerge over time.
Seeking out potential
Our objective is to outperform the FTSE All-Share Index by 2 per cent per annum, after management fees, over rolling five-year periods.
To achieve this, we aim to identify well-managed, high-quality growth companies which enjoy sustainable competitive advantages. We seek out businesses that have the potential to deliver superior earnings growth over many years and hold onto them long enough for their strengths to emerge as the dominant influence on share prices.
We take stewardship seriously, meeting with management and boards regularly, voting thoughtfully at general meetings and advocating for change where needed.
Investing to add value
This is a concentrated portfolio, which only invests in between 30-50 stocks. Therefore, it looks very different to the broader UK equity index and has a very high active share.
This is simply because we believe that to add value over the long term, we need to take an active and differentiated approach.
When we look across the portfolio, we can group our holdings into broad themes that we are really excited about, including research and development innovators, digital consumer stocks and world-class industrials.
Meet the manager
Milena Mileva
Milena joined Baillie Gifford in 2009 and became a partner in 2022. She is an investment manager in the UK Equity Team and lead manager of the UK Alpha Strategy. She has also been a member of the International All Cap Portfolio Construction Group since May 2022. Milena graduated BA in Social and Political Science from the University of Cambridge in 2007 and MPhil in Politics from the University of Oxford in 2009.
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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 June 2024
| # | Holding | % of portfolio |
|---|---|---|
| 1 | Games Workshop | 8.4% |
| 2 | Experian | 8.1% |
| 3 | 4imprint | 7.3% |
| 4 | Auto Trader | 7.1% |
| 5 | Wise | 4.2% |
| 6 | Kainos | 4.1% |
| 7 | AJ Bell | 4.0% |
| 8 | Softcat | 3.6% |
| 9 | Renishaw | 3.5% |
| 10 | Ashtead | 3.4% |
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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Insights
Key articles, videos and podcasts relating to the strategy:
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Insights
왜 지금 성장인가?
어려운 시기에 발휘되는 파트너십 지배구조의 강점: 급격한 변화 속에서 적응하고 성장할 수 있는 이유에 대해 분석합니다.
Ashtead: hiding in plain sight
This little-known equipment rental company is one of the UK’s most exciting growth stories.
Why growth, why now?
Tough times play to the partnership’s strengths: analysing what enables us to adapt and thrive amid rapid change.
UK equities: growth on our doorstep
Our specialist approach is well-placed to take advantage of early-stage British businesses.
A net zero initiative update
A reflection on Baillie Gifford’s commitment to the climate transition.
The case for UK equities
Baillie Gifford’s Iain McCombie discusses UK equities on Hymans Robertson’s investment podcast.
Joiners’ mate
Iain McCombie on how Howdens’ kitchens won the building trade’s trust.
UK equities: Home focus
Companies solving big problems in healthcare, fintech and AI, are proving the UK is an exciting place to invest.
Why growth, why now?
왜 지금 성장인가?
어려운 시기에 발휘되는 파트너십 지배구조의 강점: 급격한 변화 속에서 적응하고 성장할 수 있는 이유에 대해 분석합니다.Ashtead: hiding in plain sight
This little-known equipment rental company is one of the UK’s most exciting growth stories.Why growth, why now?
Tough times play to the partnership’s strengths: analysing what enables us to adapt and thrive amid rapid change.UK equities: growth on our doorstep
Our specialist approach is well-placed to take advantage of early-stage British businesses.A net zero initiative update
A reflection on Baillie Gifford’s commitment to the climate transition.The case for UK equities
Baillie Gifford’s Iain McCombie discusses UK equities on Hymans Robertson’s investment podcast.Joiners’ mate
Iain McCombie on how Howdens’ kitchens won the building trade’s trust.UK equities: Home focus
Companies solving big problems in healthcare, fintech and AI, are proving the UK is an exciting place to invest.
Explore further
Curious to learn more about our products and what we can offer you? Please get in touch.
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