Member Info for IsThatGlock

Yes agree. Counter intuitive to me that SMT share price is still a few % off the recent peak.

This is what Claude said re valuation point for US shares based on review of the valuation policy in the investor disclosure document.

US-listed holdings (NYSE/Nasdaq) fall into the “recognised overseas exchange” bucket, so they’re marked at the last traded price, which for a US security is the closing price — i.e. the end of the US trading session (4pm ET).

Also, below mentioned SMT’s pre IPO of SpaceX was $1.25 trillion. Early June this was revalued to $1.6 trillion.

Back of envelope market cap of SpaceX is up +66% from the $1.6tn value as at market close last night.

Prior to IPO SpaceX was ~20% of the portfolio. So that implies if SpaceX was fully valued at market, the SMT NAV would be up ~13% all else equal.

From close Thursday to close Tuesday, SMT NAV is +12.65%. The market has rallied so other holdings will have contributed to some uptick but it looks to me like the valuation captures most of the uptick in price.

These are back of envelope so someone may have more accurate figures.