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STMZF - Scottish Mortgage Cuts Its Position In Tesla But Maintains The Long-Term Approach
Scottish Mortgage Investment Trust Plc
Note: I have written about Scottish Mortgage previously, investors should see this as an update to my earlier article on the company.
The meteoric rise in the Tesla (TSLA) share price over the last year has significantly boosted Scottish Mortgage’s (STMZF) overall returns. The Baillie Gifford-run investment trust, managed from Edinburgh in Scotland, was one of Tesla's biggest backers and was its largest external shareholder. Scottish Mortgage ((SMT)) has gone against its own general long-term strategy and reduced its Tesla holding recently in order to rebalance its portfolio. This is a huge credit