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Scottish American Investment Company / SAINTS (Baillie Gifford) Letters & Research Archive

6 pieces · 2026–2026 · updated every Monday

2026

09-08Baillie Gifford Saints Investment Trust FactsheetThis factsheet covers Baillie Gifford Saints Investment Trust. Over 10 years, the fund gained 152.5%, lagging the global stock index's 230.3%. No market outlook is given. Top holdings include TSMC (4.4% of assets, the largest), Apple (3.6%), and Microsoft (3.1%)—all held as core positions. The fund has low fees (0.59%) and a 2.9% dividend yield, but warns it's not for investors with less than a 5-year horizon.→08-12Baillie Gifford Saints Investment Trust FactsheetThis is the monthly factsheet for Baillie Gifford's SAINTS investment trust. It shows the fund trailed global stocks over the past year (NAV +8.0% vs benchmark +20.5%), but its dividend has grown faster than inflation, from 10.70p to 15.92p per share over 10 years. Holdings are diversified, with top positions TSMC (4.4% of assets), Apple (3.6%) and Microsoft (2.9%). The manager says it picks stocks without following the index, making the trust su…→07-31Scottish American Investment Company Interim Financial Report - June 2026This report covers the half-year results of an old investment trust—a fund that pools people's money to buy stocks. It earned 5.6% while the global market rose 12.9%, but it lagged because it avoided hot AI stocks and focused on companies with steady profits and growing dividends. The trust has increased its dividend for 53 straight years, and its managers argue that this patient approach wins long term. For everyday investors, the takeaway is no…→07-09Baillie Gifford Saints Investment Trust FactsheetThis factsheet covers the Baillie Gifford Saints investment trust, which owns global stocks like Apple and TSMC and aims to grow dividends faster than inflation. Over the past year it returned roughly 7–9%, while the global stock index jumped 28%—a big miss. It has also lagged the index over ten years, though dividend growth has been steady. For ordinary investors, this trust is not about beating the market; it is for people who want rising incom…→07-01SAINTS Valuation - 31 May 2026This is a valuation snapshot of an investment fund's holdings on 31 May 2026—what it owned and what those assets were worth, not a performance report. For everyday investors, the useful part is how the fund diversifies. Stocks make up nearly 90% of the portfolio, yet the largest single stock is under 5%. It also holds modest amounts of real estate (all in the UK) and bonds (spread across Brazil, Mexico and Europe). The takeaway: don't put all you…→03-10Scottish American Investment Company Annual Report - including the Notice of AGM - December 2025This article reviews the annual report of SAINTS, a British investment trust known for raising its dividend for 52 straight years. Last year it increased the dividend by 7%, beating inflation, but its stock portfolio returned only about 2%, far behind the global market's 14.7%. The trust also trades at a discount—its market price is below the value of its assets—and that gap has not closed. Management admitted the underperformance but plans to ke…→