Scottish Mortgage (SMT) and Baillie Gifford US Growth (USA) have registered a 120% uplift in their holdings in Zipline, the US drone delivery company that, as we reported yesterday, is in the midst of a $1bn fund raise that will more than double its valuation to $20bn from $7.6bn at its last funding round just six months ago. The company, which received a strategic investment from Uber in August, represented 3.8% of the assets in £16bn SMT at 16 September, up from 1.8% at 31 July. USA, the £1bn trust battling to stop hedge fund Saba Capital taking control of its board, said Zipline had doubled to 4% of its portfolio.

Foresight Environmental Infrastructure (FGEN) saw over 99% of shareholder votes back the company’s continuation at its annual general meeting yesterday. In a third continuation vote caused by the double-digit discount on its shares, the £553m, 9%-yielder saw over 335.7m shares, or 99.8% of the total support its continuation in its current form. This was an increase from 93.8% support last September and 92.5% in 2024. Stephanie Coxon, who was elected chair by 99.9% of votes, thanked shareholders and said he board would remain focused on capital discipline and strategic continuity.