Scottish Mortgage Investment Trust fully exited its position in Tesla in the second quarter of 2026 after investing approximately $470 million and realizing profits of about $6.2 billion. The fund also sharply reduced its stake in SpaceX, which was worth approximately $5 billion at the company’s June 12, 2026 initial public offering. By early November 2026, SpaceX still accounted for 11.1% of the trust’s assets, down from more than 25% earlier in the year. Scottish Mortgage used the proceeds to reduce borrowing and repurchase about 72.9 million of its own shares for approximately £1.06 billion. The trust also increased its exposure to artificial intelligence companies, including Anthropic, following a 31.5% total return based on net asset value over the six months ended September 2026.
Source: Read the original article
