EUT.L

Baillie Gifford European Growth Trust plc.
The European Investment Trust Plc - Portfolio Holdings as at 31 October 2019
15th November 2019, 07:00
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THE EUROPEAN INVESTMENT TRUST PLC

PORTFOLIO HOLDINGS AS AT 31 OCTOBER 2019

      % of
RankCompanySectorCountryNet Assets
1Sanofi Health CareFrance 4.2
2Deutsche Post IndustrialsGermany 3.5
3Roche * Health CareSwitzerland 3.5
4Royal Dutch Shell ** EnergyNetherlands 3.2
5Telefonica Communication ServicesSpain 3.2
6Gerresheimer Health CareGermany 3.2
7Adecco IndustrialsSwitzerland 3.1
8Orange Communication ServicesFrance 3.0
9Stora Enso MaterialsFinland 3.0
10Sopra Steria Information TechnologyFrance 2.9
11ING FinancialsNetherlands 2.9
12Ipsos Communication ServicesFrance 2.9
13Michelin Consumer DiscretionaryFrance 2.8
14Total EnergyFrance 2.7
15BNP Paribas FinancialsFrance 2.7
16Novartis Health CareSwitzerland 2.7
17Cyfrowy Polsat Communication ServicesPoland 2.7
18ENI EnergyItaly 2.6
19Valeo Consumer DiscretionaryFrance 2.6
20Ryanair IndustrialsIreland 2.6
21Indra Sistemas Information TechnologySpain 2.5
22Siemens IndustrialsGermany 2.5
23PostNL IndustrialsNetherlands 2.5
24Bayer Health CareGermany 2.4
25ISS IndustrialsDenmark 2.4
26BBVA FinancialsSpain 2.4
27E.ON UtilitiesGermany 2.3
28Rocket Internet Consumer DiscretionaryGermany 2.2
29Nokia Information TechnologyFinland 2.2
30Ahold Delhaize Consumer StaplesNetherlands 2.2
31Outotec IndustrialsFinland 2.0
32Commerzbank FinancialsGermany 1.9
33United Internet Communication ServicesGermany 1.9
34Fresenius Medical Care Health CareGermany 1.8
35Ontex Consumer StaplesBelgium 1.7
36Glanbia Consumer StaplesIreland 1.7
37Petroleum Geo-Services EnergyNorway 1.1
38Leoni Consumer DiscretionaryGermany 0.7
Total equity investments96.4
       Cash and other net assets3.6
Net assets100.0
* The investment is in non-voting shares
** The investment is in A shares

GEOGRAPHICAL DISTRIBUTION

31 October 2019% of Net Assets
France 23.9
Germany 22.4
Benelux 12.5
Southern Europe 10.7
Scandinavia 10.7
Switzerland 9.3
Ireland 4.2
Poland 2.7
Cash and other net assets3.6
100.0

Benelux (Belgium, Netherlands)

Southern Europe (Italy, Spain)

Scandinavia (Denmark, Finland, Norway)

SECTOR DISTRIBUTION

31 October 2019% of Net Assets
 Industrials18.5
 Health Care17.8
 Communication Services13.7
 Financials9.8
 Energy9.7
 Consumer Discretionary8.3
 Information Technology7.7
 Consumer Staples5.6
 Materials3.0
 Utilities2.3
Cash and other net assets 3.6
              100.0 

Totalsmay not add due to rounding

As at 31 October 2019, the net assets of the Company were £369,692,000.

15 November 2019

Legal Entity Identifier: 213800QNN9EHZ4SC1R12

Enquiries:
Kenneth Greig
Edinburgh Partners AIFM Limited
Tel: 0131 270 3800

The Company’s registered office address is:
Beaufort House
51 New North Road
Exeter
EX4 4EP

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