Stack Capital Group (STCK) Q2 2026 earnings summary

Executive summary

• Book Value per Share (BVPS) rose 22% to $20.25 as of June 30, 2026, up from $16.57 at March 31, 2026.

• Total Book Value reached $313 million, reflecting strong portfolio performance led by SpaceX, Fluidstack, CoreWeave, and X-Energy.

• Portfolio companies achieved significant milestones, including IPOs and major financings.

Financial highlights

• SpaceX IPO contributed significantly to Book Value growth, pricing at US$135/share and a US$1.77 trillion valuation.

• Project Prometheus investment at a US$41 billion valuation; Fluidstack investment increased carrying value by 90%.

• Databricks signed a term sheet for a strategic financing at a US$188 billion valuation, up 40% from prior round.

• X-Energy completed IPO, raising US$1.1 billion in net proceeds.

Outlook and guidance

• Management remains focused on long-term value creation despite market volatility.

• Following a $40 million capital raise, the company is well-positioned to pursue new opportunities and expects 2026 to be a meaningful year for Book Value growth and portfolio monetization.