**Summary**
BlackRock Smaller Companies Trust PLC released its portfolio update as of September 30, 2025, highlighting performance, asset values, and sector allocations. The trusts Net Asset Value (NAV) rose by 2.1% in September, slightly underperforming the Deutsche Numis Smaller Companies plus AIM benchmark, which gained 2.9%. Over longer periods, the trusts performance was mixed, with positive returns over three and five years but negative returns over one year.
Key metrics include
**NAV (debt at fair value):** 1507.53p
**Share price:** 1318.00p
**Discount to Cum Income NAV** 12.6%
**Net yield** 3.3%
**Gross assets** £661.0m
**Net gearing** 7.5%
Sector weightings are dominated by Industrials (30.9%) and Financials (28.9%), with the UK comprising 97.2% of the portfolio. Top holdings include Boku, XPS Pensions, and IntegraFin, each representing around 2.7% of the portfolio.
Roland Arnold, representing the Investment Manager, noted that September saw strong global equity market performance, with UK small and mid-caps outperforming, driven by miners and value stocks. Key contributors included Sylvania Platinum, Rosebank Industries, and Diaceutics, while detractors were Hilton Food Group and Greencore.
The outlook remains focused on the UK budget and its impact on businesses and inflation. Despite challenges, Arnold highlighted the resilience of smaller companies in past crises and the potential value in the asset class, as evidenced by ongoing M&A activity.
For more information, shareholders are directed to the BlackRock website or financial terminals.