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Baillie Gifford Letters & Research Archive

Baillie Gifford is an Edinburgh investment partnership founded in 1908, famous for ultra-long-horizon, high-conviction growth investing — its early stakes in Amazon, Tesla and NIO are classics. Its "actual investors" philosophy holds world-changing companies on 5-10 year views; AUM is around $120bn. The Insights column carries its managers' investment views and thematic research.

9 pieces · 2026–2026 · updated every Monday

2026

07-24SAINTS spotlight: testing the case for resilient growthThis report from Baillie Gifford is about why they think passive index funds (like ETFs that track the market) are not neutral—they've become too concentrated in AI stocks, ignoring other growth areas…→07-17SpaceX: why US Growth invested at the IPOSpaceX went public at an eye-popping $1.7 trillion valuation. But Baillie Gifford, a long-time private investor, still bought in. Why? They see real substance: SpaceX launches over 80% of global paylo…→07-16Edinburgh Worldwide enlightenment: targeting cancer’s greasy ballThis article is about Revolution Medicines, a biotech firm targeting a protein called RAS, which drives many cancers (like pancreatic cancer). Unlike older drugs that only work on 'sleeping' RAS, its…→07-15Monks’ musings: winning the long raceThis article explains how the Monks fund picks stocks in the AI boom. They split the market into three groups: AI hardware, digital services, and industrial stocks. Instead of chasing every AI name, t…→07-10Medpace: easing the bottleneck in drug developmentThis article highlights Medpace, a company that runs clinical trials for drug developers—think of it as a 'picks and shovels' business in a tough industry. Drug development is getting harder and more…→07-07Global Alpha Forum: the changing growth opportunity setThis report says that today's market is dominated by short-term traders and passive investing (like index funds), which can cause good companies to be unfairly sold off. For example, Datadog was dumpe…→07-03The AI paradox: from carbon cost to climate dividend?This article asks whether AI helps or hurts the climate. In the short term, AI data centers increase electricity use and emissions. But over time, AI can make power grids and factories more efficient,…→07-02Stock markets: ecology and evolutionMore people are buying stocks based on indexes or hot trends, which can push good companies' prices away from what they're really worth. That creates opportunities for those who study businesses caref…→06-30Rebuilding confidence in UK growthThis report argues that some quality UK companies are undervalued because investors have piled into a few big stocks like banks and defense firms. Firms like Moonpig (a digital greeting card platform…→