24th Sep 2026 11:49
(Alliance News) - Scottish Mortgage Investment Trust PLC and Baillie Gifford US Growth Trust PLC both have revised up their net asset values thanks to a higher valuation for their holdings in Anthropic, ahead of the artificial intelligence company's stock market listing.
The London-listed investment trusts both focus on growth stocks and have holdings in some of the biggest names in US technology, including Anthropic and the recently New York-listed Space Exploration Technologies Corp. Anthropic is preparing for an initial public offering on Nasdaq in mid-October that could outdo SpaceX's own IPO and value the Claude AI model maker at USD2 trillion.
Ahead of that event, Scottish Mortgage said its NAV as of Tuesday's close reflected an upward adjustment of its Anthropic holding. NAV including income with debt at fair value was 1,741.32 pence per share, up 2.2% from 1,704.04p on Monday. It was 1,730.89p at the close on Wednesday.
Scottish Mortgage shares were down 1.0% to 1,556.70p in London around midday on Thursday. The company is a FTSE 100 index constituent.
Scottish Mortgage, which first invested in Anthropic last year, said the holding now makes up 3.9% of its portfolio, up from 2.9% at the end of August.
Baillie Gifford US Growth also first bought into Anthropic last year. It said the company now makes up 9.0% of its total assets, up from 6.8% last month.
The increased valuation for Anthropic was reflected in its NAV with income at par value for Tuesday of 397.57p, up 3.9% from 382.59p on Monday. NAV on Wednesday was 394.46p.
Shares in FTSE 250 constituent Baillie Gifford US Growth were down 1.5% on Thursday at 372.50p.
By Tom Waite, Alliance News editor
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