Mar. 26 at 9:00 AM
$STCGF
Before March 5, Stack Capital had SpaceX as 16% of its portfolio (SpaceX was valued at
$400B. Now they show it as 29.6% of its portfolio (SpaceX valued at
$800B). So they updated SpaceX valuation (they update it only when they have quarterly results). They had results on March 5th:
https://www.stackcapitalgroup.com/pr-mar-5-25-stack-q4-25-financials
Book Value per Share (BVpS) = C
$15.35, STCK.TO share price: C
$19.08 (24% above book value).
Compare that to Fundrise Innovation Fund's (VCX) valuation: 20 times their NAV.
In the news we’re seeing possible SpaceX valuation at IPO of
$2T. So it is likely Stack Capital will more than double (2.5x) SpaceX valuation again later this year (again, after doubling it in March - so quadrupled this year).
If we assume SpaceX valuation goes to
$2T, that would make SpaceX 51% of Stack Capital's portfolio ..