Edinburgh Worldwide Investment Trust (EWI · LSE)

FinancialsLSE

Baillie Gifford's EWI: Own SpaceX pre-IPO plus tomorrow's disruptors at a discount

Global small-cap trust backing emerging tech winners like SpaceX and PsiQuantum. Discount narrows as portfolio shifts toward proven cash generators.

Edinburgh Worldwide Investment Trust PLC

EWI: LSE

253.50 GBp

+19.01%

year to date

Source: Finnhub

Market Cap£912.04M

Avg Volume28.07K

PriceGBp253.50-1.74%

P/E Ratio3.43ttm

Pricing delayed 20 minutes Oct 23, 2026, 12:00 AM

SpaceX stake worth 14% of assets
Pre-IPO access captures value before public markets drive shares higher.
Discount offers double-upside as reset takes hold
Discount narrowed from 20% to 4% as portfolio quality improved, creating upside from both asset growth and potential further re-rating.
35% private holdings concentration
Early entry into breakthrough tech before competition inflates valuations.

Private holdings lack transparency
Unlisted stakes can't exit quickly if internal valuations prove too optimistic.
Discount widens on underperformance
Risk-off sentiment or weak stock picks could push discount past 25% again.
Early-stage binary outcomes
Unproven companies may never commercialize; one major failure erases multiple winners.