Investment objective & strategy
As of Dec. 10, 2025 · prospectusStrategy. 1. The third paragraph of the section titled Principal Investment Strategies relating to the Fund in the Fund Summaries section of the Prospectus is hereby restated in its entirety as follows: The portfolio managers employ a bottom-up approach to stock selection, seeking to identify companies they believe have attractive long-term growth prospects, and principally select companies without being constrained by the MSCI ACWI ex USA benchmark. The portfolio managers focus on company research and the long-term outlook of companies and industries. Ideas can come from a wide variety of sources, including, but not limited to, research trips, company meetings, and relationships with industry thought leaders and academic institutions. Stock ideas are normally researched to assess a range of factors, including: … 1. The third paragraph of the section titled Principal Investment Strategies relating to the Fund in the Fund Summaries section of the Prospectus is hereby restated in its entirety as follows: The portfolio managers employ a bottom-up approach to stock selection, seeking to identify companies they believe have attractive long-term growth prospects, and principally select companies without being constrained by the MSCI ACWI ex USA benchmark. The portfolio managers focus on company research and the long-term outlook of companies and industries. Ideas can come from a wide variety of sources, including, but not limited to, research trips, company meetings, and relationships with industry thought leaders and academic institutions. Stock ideas are normally researched to assess a range of factors, including: long-term growth potential, geographic and industry positioning, competitive advantage, management, financial strength and valuation. Under normal circumstances, the intended outcome is a diversified portfolio typically consisting of between 60 and 90 growth companies with the potential to outperform the Funds benchmark over the long term. The process can result in significant exposure to a single country or a small number of countries. The Fund expects to invest in Chinese companies, among other means, through China A shares, which are common stocks and other equity securities that are listed or traded on a Chinese stock exchange and which are quoted in renminbi, the official currency of China. The Fund aims to hold securities for long periods (typically at least 5 years), which generally results in relatively low portfolio turnover and is in line with the portfolio managers long-term investment outlook. When assessing a companys long-term growth prospects, the portfolio managers seek to identify and to incorporate a range of factors that are material to managing the Funds investment risks and maximizing capital appreciation. Such factors potentially include the environmental, social, and/or governance characteristics of the company, such as stewardship, sustainable business practices, and/or corporate culture.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| TSMC | — | $129.03M | 6.94% |
| SAMSUNG ELECTRONICS CO LTD | — | $76.27M | 4.10% |
| TENCENT HOLDINGS LTD | — | $63.49M | 3.41% |
| RIO TINTO PLC | — | $54.51M | 2.93% |
| DEUTSCHE BOERSE | — | $52.59M | 2.83% |
| B3 SA | — | $46.26M | 2.49% |
| DSV PANALPINA A S | DSV | $43.91M | 2.36% |
| MERCADOLIBRE INC | — | $42.24M | 2.27% |
| ASML Holding NV | — | $41.18M | 2.21% |
| AIA Group Ltd | — | $39.33M | 2.11% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Baillie Gifford International Stock Portfolio | 95% | 0.73% |
| Optimum International Fund · OAIEX, OCIEX, OIIEX | 51% | 1.07% |
| Baillie Gifford International All Cap Fund · BGICF2, BGICF3 | 43% | — |
Advisers
| Firm | Role |
|---|---|
| Baillie Gifford Overseas Ltd | Adviser |
Footnotes
- Expense ratio as of April 30, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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