High-flying fund manager Baillie Gifford has significantly reduced its Tesla share holdings across at least 11 of its funds and investment trusts, including Scottish Mortgage.
The Edinburgh-based fund manager, which was Tesla s largest external investor with a 7.7 per cent stake as recently as last year, sold off shares during January, This is Money research into the latest factsheets for its 44-strong fund and trust range revealed.
Flagship Scottish Mortgage cut its Tesla holding from 8.4 per cent of the £19.4billion investment trust at the end of December to 5.1 per cent a month later.
This saw Tesla drop from the trust s biggest holding to its fourth biggest.
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