Scottish Mortgage discusses SpaceX's seven-year journey and listing
The investment trust gained an inside view through private ownership and says the IPO opens a new chapter for the investment.
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Investment trust for global public and private growth companies
scottishmortgage.comLast updated
In short: Scottish Mortgage benefited from SpaceX's landmark IPO and AI-driven portfolio shifts, boosting NAV and buybacks.
The investment trust gained an inside view through private ownership and says the IPO opens a new chapter for the investment.
The update features a historic portfolio milestone, the closure of a long-held investment, and new opportunities in AI-supporting infrastructure.
Covers SpaceX's landmark IPO, the sale of Tesla after 13 years, and new investments in power and AI infrastructure.
The position is valued at $1.25tn, representing 19.3% of the portfolio as of March 2026.
The Scottish Mortgage Investment Trust reports a strong NAV return of 27.4% and is once again trading above net asset value.
Scottish Mortgage has said its holding in SpaceX and a 'once-in-a-generation shift' in technology have helped to deliver huge returns to investors.
SpaceX should no longer be thought of as an aerospace contractor but as a dual monopoly" - Tom Slater, fund manager...
Scottish Mortgage is seeking permission to amend its investment policy so it can increase its stakes in private companies. The investment trust, which holds £15.2billion...
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