This is the latest factsheet for the Baillie Gifford European Growth investment trust. The manager is optimistic, sticking to a long-term stock-picking strategy rather than tracking the index. Key holdings: Bending Spoons (16.5% of the fund, the top holding), ASML (6.5%, a semiconductor equipment maker), and Tekever Holdings (5.1%, a drone company). The fund has £404 million in assets, 15% leverage (borrowed money), a 7.5% discount (price below net asset value), and 8.7% in private companies (less liquid).
Baillie Gifford European Growth Trust plc’s report for the period ending September 30, 2026, indicates that the trust aims to achieve long-term capital appreciation by investing in 30-60 high-growth, strongly competitive European companies, with yield as a secondary objective. Total assets stand at
The fund's NAV rose 15.1% for the month, while the benchmark (FTSE Europe ex UK Index) rose 14.5%, resulting in an excess return of 0.6 percentage points. Year-to-date, the cumulative NAV increase is 15.1%, versus the benchmark's 14.5%.
| Metric | Month | Year-to-Date |
|---|---|---|
| Fund (NAV) | 15.1% | 15.1% |
| Benchmark (FTSE Europe ex UK Index) | 14.5% | 14.5% |
| Excess Return | +0.6% | +0.6% |
The report does not provide monthly attribution data, so specific contributors/detractors cannot be listed.
The report does not include commentary on specific holdings.
[Optimistic] The manager adheres to a long-term growth strategy, believing that bottom-up stock selection is the right approach and does not track the index. The report provides no clues on changes in portfolio structure such as net exposure, leverage, or long/short ratios.
The report does not disclose monthly position changes.