Scottish Mortgage drops Facebook and diversifies away from Tesla

First reduction to Amazon not driven by diversification concerns

James Baxter-Derrington
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The trust had been reducing its position in Facebook for some time
Image:

The trust had been reducing its position in Facebook for some time

Scottish Mortgage Investment Trust has fully exited its stake in Facebook and sold down its Tesla holding to ensure “an appropriate level of diversification,” according to its biannual report.

The trust had been reducing its position in Facebook for some time, but has now completely exited the social media giant, leaving the portfolio with only three of the FAANG mega stocks - Google parent...

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