Stack Capital Group (STCK) Q3 2025 earnings summary

Executive summary

• Book Value per Share was $14.26 as of September 30, 2025, down slightly from $14.34 at June 30, 2025, with total Book Value at $188.7 million.

• Raised $35 million via private placement, enhancing capital for investments in late-stage, high-growth private companies.

• Portfolio companies such as SpaceX, Canva, Hopper, Shield AI, and CoreWeave reported significant valuation increases and product milestones.

• New investments included OpenAI ($8.0M), Databricks ($2.1M), and PsiQuantum ($0.5M), expanding exposure to AI and quantum computing.

Financial highlights

• Book Value per Share at $14.26, with a detailed breakdown across major portfolio holdings.

• Cash position and net other assets contributed $2.35 and -$0.36 per share, respectively.

Outlook and guidance

• Management sees a robust IPO environment and strong momentum in private markets, especially in AI, defense, and robotics.

• Focus remains on identifying and supporting category leaders with long-term value potential.