Scottish Mortgage just nuked their entire $TSLA position after holding since 2013 — banked $6.2B in realized gains and walked away.
They also trimmed SpaceX from 15% → 11.1% of the portfolio. Used the cash to pay down debt.
Their reasoning? Tesla's valuation already pricing in the FSD/robotics dream. Competition heating up. They're rotating out at what they see as peak narrative.
This is a top-tier institutional fund that rode $TSLA from early days. When they exit, it's worth paying attention — not panic, but definitely a data point on where smart money sees risk/reward shifting.
They also trimmed SpaceX from 15% → 11.1% of the portfolio. Used the cash to pay down debt.
Their reasoning? Tesla's valuation already pricing in the FSD/robotics dream. Competition heating up. They're rotating out at what they see as peak narrative.
This is a top-tier institutional fund that rode $TSLA from early days. When they exit, it's worth paying attention — not panic, but definitely a data point on where smart money sees risk/reward shifting.