BAILLIE GIFFORD EUROPEAN GROWTH TRUST PLC
THE EUROPEAN INVESTMENT TRUST PLC
PORTFOLIO HOLDINGS AS AT 31 DECEMBER 2016
% of
Rank Company Sector Country Net Assets
1 PostNL Industrials Netherlands 4.6
2 Royal Dutch Shell A Oil & Gas Netherlands 4.0
3 Total Oil & Gas France 3.7
4 BNP Paribas Financials France 3.5
5 Novartis Health Care Switzerland 3.5
6 ENI Oil & Gas Italy 3.5
7 Petroleum Geo-Services Oil & Gas Norway 3.4
8 Sanofi Health Care France 3.3
9 Bayer Basic Materials Germany 3.2
10 Roche* Health Care Switzerland 3.2
11 Stora Enso Basic Materials Finland 3.1
12 Adecco Industrials Switzerland 3.1
13 DNB Financials Norway 3.0
14 Telefonica Telecommunications Spain 3.0
15 BBVA Financials Spain 2.9
16 Ubisoft Entertainment Consumer Goods France 2.9
17 Ryanair Consumer Services Ireland 2.8
18 ING Financials Netherlands 2.7
19 Airbus Industrials France 2.6
20 Michelin Consumer Goods France 2.6
21 Nokia Technology Finland 2.6
22 Delta Lloyd Financials Netherlands 2.5
23 Telecom Italia Telecommunications Italy 2.5
24 Leoni Industrials Germany 2.5
25 DIA Consumer Services Spain 2.4
26 Siemens Industrials Germany 2.4
27 Rocket Internet Financials Germany 2.3
28 BB Biotech Health Care Switzerland 2.3
29 Commerzbank Financials Germany 2.3
30 E.ON Utilities Germany 2.3
31 Outotec Industrials Finland 2.2
32 SKF Industrials Sweden 2.1
33 Danske Bank Financials Denmark 2.1
34 Gemalto Technology Netherlands 2.0
35 Ipsos Consumer Services France 1.9
36 TDC Telecommunications Denmark 1.8
37 Piaggio Consumer Goods Italy 1.4
Total equity investments
102.2
Cash and other net
liabilities (2.2)
Net assets
100.0
* The investment is in non-voting shares
GEOGRAPHICAL DISTRIBUTION
31 December 2016 % of Net
Assets
France 20.5
Netherlands 15.8
Germany 15.0
Switzerland 12.1
Spain 8.3
Finland 7.9
Italy 7.4
Norway 6.4
Denmark 3.9
Ireland 2.8
Sweden 2.1
Cash and other net (2.2)
liabilities
100.0
SECTOR DISTRIBUTION
31 December 2016 % of Net
Assets
Financials 21.3
Industrials 19.5
Oil & Gas 14.6
Health Care 12.3
Telecommunications 7.3
Consumer Services 7.1
Consumer Goods 6.9
Basic Materials 6.3
Technology 4.6
Utilities 2.3
Cash and other net (2.2)
liabilities
100.0
As at 31 December 2016, the net assets of the Company were £389,277,000.
16 January 2017
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
EUROPEAN INVESTMENT TRUST : Portfolio Holdings as at 31 December 2016
January 16, 2017 at 02:01 am EST
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