IPO activity in Q2 2025 remained low, with only 10 companies announcing plans to go public, the slowest month since December 2024. Notable debuts included adtech platform MNTN (valued at $1.2B) and digital therapy company Hinge Health (valued at $2.6B), while stablecoin issuer Circle planned a $624M IPO. Despite macroeconomic uncertainty and high interest rates, optimism remains for stronger IPO activity in the second half of 2025 if the Federal Reserve cuts rates.

Prudential PLC increased its holdings in Williams Companies, Inc. by 28.4% in the 4th quarter, adding 67,803 shares to its portfolio, making the total holdings worth $16,568,000. Other institutional investors also increased their stakes in the company, including Foundations Investment Advisors LLC and Golden State Equity Partners. The Williams Companies announced quarterly earnings of $0.47 per share, meeting expectations. Additionally, the company increased its dividend to $0.50 per share, representing a $2 increase on an annualized basis. Insider transactions revealed that the company's COO sold a significant portion of his holdings, while SVP also reduced his stake. Analysts have upgraded their price targets on the stock, with Royal Bank of Canada increasing their rating to 'outperform' and CIBC maintaining a 'neutral' rating.

The financial market volatility, known as a stock selloff, has led to a significant postponement of major mergers and acquisitions (M&A) and initial public offerings (IPOs) worth billions of dollars. Companies such as StubHub Holdings, Klarna Bank, MNTN, and insurer Ategrity Specialty Holdings have all temporarily shelved their plans for public listings, according to sources.

Growth capital investment trusts have seen a strong recovery in the first 10 months of 2024, with some notable gains from trusts like Seraphim Space (SSIT), Molten Ventures (GROW), and Chrysalis (CHRY). These trusts focus on unlisted companies and have faced challenges due to interest rate rises, but with easing rates and healthier markets, their conditions have improved. Despite significant share price discounts to net asset value (NAV), some analysts view these trusts as undervalued with improving prospects.

QuotedData's Q3 2024 Investment Companies Quarterly Review analyzes the performance of various investment trusts across different sectors. The report highlights the impact of falling US inflation, interest rate cuts by the Federal Reserve and Bank of England, and government stimulus in China. Strong performances were seen in UK property, healthcare, and some Chinese equities, while technology funds suffered from a sell-off. Several trusts underwent corporate activity, including mergers, acquisitions, and wind-downs, significantly impacting their share prices and NAVs. The review also details the top and bottom performing funds, money raised and returned through various means, and major news stories affecting the investment trust market.