SpaceX IPO: These investment trusts and stocks could benefit from record-breaking stock market launch

SpaceX is set for a bumper IPO in 2026 that could reset valuations across the aerospace, defence and space economy sectors. 

It could be the world’s biggest ever IPO and the valuation being talked about is astronomical - $1tn potentially. That would place it in the top 10 of the MSCI World Index.

Arguably more down-to-earth figures of $600bn-$800bn seems more likely, but who knows what kind of appetite there will be among investors for this generational bet on the future space economy.

It leads our list of potential monster IPOs in 2026.

But investors seeking exposure to the SpaceX trade can look closer to home with investment trusts own stakes in the company. These are Baillie Gifford funds that have a history of investing in successful technology companies.

Both Edinburgh Worldwide (EWI) and Scottish Mortgage (SMT) have over 15% of their net asset value in SpaceX. Baillie Gifford US Growth (USA) and Schiehallion Fund (MNTN) also have chunky exposure to the company.

SMT on Tuesday said its net asset value stood at 1,297.23p per share as of 15 December 2025 after an upwards revaluation of SpaceX, which now makes up 15.3% of the fund, up from 8.2% just two weeks earlier. EWI also raised the value of its SpaceX stake to 15.9% of its NAV from 8.5% previously and lifted its total NAV to 228.21p. Baillie Gifford’s US Growth trust said its total assets made up by SpaceX stands at 11.4% at close of business on 15 December 2025, compared with 6.0% on 30 November 2025. Schiehallion said its proportion of NAV made up by SpaceX rose from 7.5% to 14.0% over the same period.

A bumper IPO and strong valuation should help these funds. SMT has already declared an 88% increase in the value of its stake in the year to 30 September, before the $800bn valuation was reported.

Apart from investment trusts, there are some associated companies who could benefit from the IPO buzz.

This year SpaceX said it would buy wireless spectrum licences from satellite communication network provider EchoStar (SATS) for about $17 billion to support Starlink’s expansion. The deal was 50-50 cash and SpaceX equity, which means EchoStar stands to win from a bumper IPO.

Alphabet (GOOGL) acquired a 6-7% stake in SpaceX for around $900 million in 2015, when the company was valued at just $12bn.

Meanwhile SpaceX suppliers include UK-listed Filtronic (FTC), which  makes the solid state power amplifiers used in ground stations to connect with SpaceX's Starlink satellites, and STMicroelectronics (STM), which provides radio-frequency chips used in Starlink satellites.