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Baillie Gifford UK Growth TrustArticle1 Jul 2026Source: bailliegifford.com

UK Growth Trust Valuation - 31 May 2026

In plain words

This is a snapshot of what the Baillie Gifford UK Growth Trust owns at the end of May 2026, essentially a list of its stock picks. No explicit market outlook is given. The largest holding is Games Workshop, a tabletop wargame and model maker, at 7.2%. Next is AJ Bell, an online investment platform, at 5.3%. The fund also holds Wayve Technologies, a private self-driving tech company, via its Series B preferred shares, showing it can invest in unlisted firms. The portfolio is diversified, with the top ten making up around 45%.

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BG UK Growth Trust had total assets of £275.9 million as of May 31, 2026, with equity investments accounting for 99.2% and net current assets 0.8%. The portfolio held 36 stocks in total, with the top ten holdings accounting for approximately 45% combined. The largest positions were Games Workshop (7

~6 min full read · 4 sections
Deep Analysis

Portfolio Overview

As of May 31, 2026, BG UK Growth Trust (Baillie Gifford UK Growth Trust plc) had total assets of £275.9 million, of which equity investments accounted for 99.2%, net current assets 0.8%, and 36 holdings in total.

  • Total assets: £275,938,115 (100.0%)
  • Equity investments: £273,806,644 (99.2%)
  • Net current assets: £2,131,471 (0.8%)
  • Number of holdings: 36, including one preferred share of an unlisted company

Holdings Overview (Descending by Weight)

Holding Market Value (GBP) Weight
Games Workshop 19,764,871 7.2%
AJ Bell 14,709,346 5.3%
Volution 12,740,065 4.6%
Softcat 11,775,525 4.3%
Wise 11,734,057 4.3%
Renishaw 11,472,200 4.2%
4imprint 11,050,479 4.0%
Legal & General 10,386,045 3.8%
Howden Joinery 10,364,582 3.8%
St. James's Place 9,865,444 3.6%
Prudential 9,701,875 3.5%
Experian 9,346,397 3.4%
Moonpig 9,162,443 3.3%
Genus 9,143,010 3.3%
Kainos 9,118,731 3.3%
Autotrader 8,719,184 3.2%
Inchcape 8,199,921 3.0%
Molten Ventures 7,568,968 2.7%
Lancashire Holdings 7,254,181 2.6%
Sunbelt Rentals 6,737,812 2.4%
Spirax 6,732,021 2.4%
Wayve Technologies (Series B preferred shares) 6,627,814 2.4%
IntegraFin 6,563,068 2.4%
Bodycote 5,877,747 2.1%
Halma 5,470,449 2.0%
Bunzl 5,417,291 2.0%
Burberry 4,709,015 1.7%
Rightmove 4,390,478 1.6%
Diageo 4,283,663 1.6%
RELX 3,886,974 1.4%
Helical 3,476,935 1.3%
Greggs 2,813,983 1.0%
Applied Nutrition 2,313,990 0.8%
PageGroup 1,331,885 0.5%
Creo Medical 652,514 0.2%
Oxford Nanopore 443,681 0.2%

Portfolio Structure Observations

The top ten holdings together account for approximately 45.1%, led by Games Workshop at 7.2%; the portfolio is built around UK-listed growth stocks, with as many as 26 positions at weights of ≥2%, and the tail is highly diversified.

  • Top five total approximately 25.7%: Games Workshop 7.2%, AJ Bell 5.3%, Volution 4.6%, Softcat 4.3%, Wise 4.3%
  • Top ten total approximately 45.1%, with St. James's Place in tenth place (3.6%); the eleventh holding, Autotrader (3.2%), is not far behind the top ten
  • The final four total only approximately 1.7%: Creo Medical 0.2%, Oxford Nanopore 0.2%, PageGroup 0.5%, Applied Nutrition 0.8%
  • Two structural exceptions: Wayve Technologies is an unlisted company (Series B preferred shares) at 2.4%; Sunbelt Rentals uses a US ISIN (US8669661048) at 2.4%, making it the only listed holding in the portfolio with a non-UK code.

Fund Matters

The report notes that a more detailed asset allocation, including effective market exposure adjusted for derivative positions, is included in the company's monthly factsheet.

This chapter is a valuation snapshot and does not include performance, subscriptions/redemptions, or manager commentary; the report directs derivative exposure details to the factsheet disclosure.