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Baillie Gifford US Growth Trust Letters & Research Archive

11 pieces · 2025–2026 · updated every Monday

2026

10-28Baillie Gifford US Growth Trust - Letter to shareholdersIn its filing dated October 28, 2026, Baillie Gifford US Growth Trust plc provided only legal and contact information, with no investment analysis, performance data, or market views. The trust is a UK-registered investment trust managed by Baillie Gifford & Co Limited. No specific companies or investment strategies were discussed.→10-07Baillie Gifford US Growth Investment Trust Factsheet - September 2026This report covers the Baillie Gifford US Growth fund's performance and holdings through September 2026. The manager is optimistic, believing top US companies like Stripe (payments) and Zipline (drone delivery) can deliver strong returns, and notes more good firms stay private longer. The fund invests heavily in unlisted firms. Top holdings include SpaceX (space) at 9.6%, Anthropic (AI) at 9.1%, and NVIDIA (chips) at 7.5%. The fund returned 41.6%…→09-17Baillie Gifford US Growth Trust Annual Financial Report - May 2026This report covers Baillie Gifford US Growth Trust's latest update. The fund is optimistic about AI, seeing it entering a self-reinforcing cycle. It added AI infrastructure stocks (NVIDIA, Broadcom) and private high-growth firms (Anthropic, OpenAI), while selling Pinterest and others. Key holdings: SpaceX (private rocket company, big gains after IPO), Anthropic (AI firm, revenue surged over 400%), and NVIDIA (chip giant, revenue up 85%).→09-17Baillie Gifford US Growth Trust - Notice of Annual General Meeting CircularThis is about Baillie Gifford US Growth Trust's annual meeting notice, urging shareholders to vote against activist investor Saba. The fund believes Saba wants to take over the board and change strategy, harming long-term investors, so it backs the current team. Key holdings include SpaceX (invested since 2015, now worth ~$350 billion), OpenAI (valuation surged from $12 billion in 2020 to $300 billion in 2026), and Stripe (a fintech firm founded…→09-08Baillie Gifford US Growth Investment Trust Factsheet - August 2026This factsheet covers Baillie Gifford's US Growth Investment Trust. The manager is optimistic, noting many great US companies stay private, and the trust can invest up to 50% in private firms (companies not listed on stock exchanges) to capture those opportunities. They focus on long-term holdings of quality growth stocks, ignoring short-term noise. Key holdings: Space Exploration Technologies (Elon Musk's space company, top holding), NVIDIA (chi…→08-12Baillie Gifford US Growth Investment Trust Factsheet - July 2026Baillie Gifford US Growth Trust focuses on American growth stocks. Over the past year its net asset value rose 12.5%, behind the S&P 500’s 17.6%; after several weak years, it has beaten the index in the last two fiscal years. The manager stays optimistic, holding winners for five years and noting that many US firms stay private longer, so the fund puts about 30% of assets into unlisted companies. Top holdings include SpaceX (rockets, 13.6%), Stri…→07-09Baillie Gifford US Growth Investment Trust Factsheet - June 2026This report summarizes how a UK investment trust performed over the past year. Its investments grew 32.5%, beating the 26.3% return of the S&P 500, an index of large US companies. However, it has been very volatile—once losing nearly half its value in a year. It also puts almost 28% of its money into private companies, like SpaceX and Stripe, which are not listed on public exchanges and can be hard to sell quickly. The fund's shares trade at a 9.…→07-01Baillie Gifford US Growth Trust Valuation - 31 May 2026This report shows what the Baillie Gifford US Growth Trust owned at the end of May 2026. Essentially, it lists where the fund's money sits. Just over half is in publicly traded stocks like Nvidia and Amazon. The rest is in private companies—startups not listed on any stock exchange—such as SpaceX and Stripe. SpaceX alone makes up 16.3% of the fund, its biggest bet. For an ordinary investor, this matters because private-company values are less tra…→01-23Baillie Gifford US Growth Trust Interim Financial Report - November 2025This half-year report shows how a fund devoted to ambitious ‘change-the-world’ growth companies performed. In the six months to November 2025, it returned about 18% by share price and 14% by net asset value, slightly behind the S&P 500. Over three years it beat the index, but over five years it lagged badly — a reminder that this style is volatile. The fund holds private names like SpaceX and Anthropic. It trimmed SpaceX to reduce concentration a…→

2025

08-12Baillie Gifford US Growth Trust Annual Financial Report - May 2025This is about the annual report of Baillie Gifford US Growth Trust, a fund that buys American growth stocks. Last year it bounced back strongly, but over the past five years it badly lagged the US stock market. The fund also has a third of its money in private companies (not listed on stock exchanges), which makes its share price trade at a discount to its underlying assets. For ordinary investors: expect high volatility and no dividends, and be…→01-06Baillie Gifford US Growth Trust - Requisitioned General Meeting CircularThis document is a voting notice from the Baillie Gifford US Growth Trust, a fund that lets everyday investors buy shares in private companies like SpaceX and Stripe. An American hedge fund called Saba wants to replace the board and take over management. The current managers argue Saba's plan is vague, self-serving, and could force the fund to sell its best private holdings cheaply. Performance data shows the fund roughly matched the S&P 500 sinc…→