Scottish Mortgage beats index with 27% return, led by SpaceX

Scottish Mortgage Investment Trust reported a 27.4% net asset value (NAV) total return for the year ending March 31, 2026. The trust’s share price total return reached 26.8% during the period. These results significantly outperformed the 18.0% return of the FTSE All-World Index.

A substantial upward revaluation of SpaceX primarily drove this growth. The aerospace company is now the trust's largest position by a considerable margin.

The board proposed a 4.3% dividend increase to 4.57p per share. Company shares rose 0.6% in early trading on May 27.