2nd Apr 2026 09:53
(Alliance News) - Three London-listed investment trusts late Wednesday upgraded the value of their holdings in SpaceX, after Elon Musk's company was reported to have filed with US regulators for a record-setting IPO.
Space Exploration Technologies Corp has filed confidentially for a US initial public offering, Bloomberg reported on Wednesday, citing unnamed sources familiar with the matter.
The IPO would be the largest in history, with a valuation of over USD1.75 trillion, the Bloomberg sources said. SpaceX's acquisition of Musk's AI firm xAI in February valued the enlarged entity at USD1.25 trillion.
The satellite maker has submitted its draft IPO registration to the US Securities & Exchange Commission, according to the sources. The filing puts SpaceX on track for a June listing, potentially head of likely IPO's by OpenAI and Anthropic PBC, Bloomberg noted.
Scottish Mortgage Investment Trust PLC, a FTSE 100-constituent that invests in both public and private companies, on Wednesday said the value of its holding in SpaceX has been increased so that the holding now makes up 19.3% of its portfolio as of March 31, up from 15.4% on February 28.
The higher SpaceX value is reflected in the company's net asset value per share of 1,316.12 pence as of March 31.
Scottish Mortgage Investment shares were quoted at 1,253.50p in London early Thursday, down 0.4% on the day, though up 33% over the past year.
Other holdings of Scottish Mortgage Investment include ASML Holding NV, Amazon.com Inc and Nvidia Corp.
Scottish Mortgage Investment is managed by Baillie Gifford & Co Ltd.
Also on Wednesday, Baillie Gifford US Growth Trust PLC, a FTSE 250 constituent, said SpaceX now represents 14.9% of its portfolio, up from 11.9%, on the same dates. NAV per share was 301.12p on March 31.
Baillie Gifford US Growth shares were up 1.1% to 294.17p on Thursday. They are up 31% over the past year.
Edinburgh Worldwide Investment Trust PLC, another FTSE 250 constituent, said SpaceX now is 20.4% of its portfolio, up from 16.3% at the end of February. NAV per share on March 31 was 227.47p.
Shares in Edinburgh Worldwide Investment shares were down 0.1% to 226.38p on Thursday. The stock is up 42% over the past year.
Edinburgh Worldwide Investing is proposing a tender offer for all of its shares to fend off activist shareholder Saba Capital Management LP, which wants to change the board of the trust and has proposed its own tender offer for trust shares.
By Tom Waite, Alliance News editor
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
Scottish MortgageEdinburgh Worldwide Investment TrustBaillie Gifford US Growth Trust