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SMT Scottish Mortgage Investment Trust Plc

-4.40 (-0.50%)
Last Updated: 08:38:06
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Scottish Mortgage Investment Trust Plc SMT London Ordinary Share
  Price Change Price Change % Share Price Last Trade
-4.40 -0.50% 877.80 08:38:06
Open Price Low Price High Price Close Price Previous Close
876.40 873.00 877.80 882.20
more quote information »
Industry Sector

Scottish Mortgage Invest... SMT Dividends History

Announcement Date Type Currency Dividend Amount Ex Date Record Date Payment Date

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Top Posts
Posted at 23/5/2024 17:57 by elbrus55
Nvidia is up $ 10% today and is 8% of SMT assets, although that only explains about a quarter of the rise in SMT SP
Posted at 26/3/2024 10:13 by septblues
SMT was outperforming Allianz and Polar until the opening up trades met Covid closing down trades met some part of the AI Gartner Hype Cycle met Fed interest rate changes met China sanctions met Ukraine war met rotations etc

Most of those Elliott could not have forecasted accurately or mostly generally otherwise it would have boarded SMT mid 2022 or early 2023. It's come on board late and missed some value accretion. As it is SMT has tracked Alliance over 1 year.
Posted at 24/3/2024 09:00 by hazl
Ah a bit in the Sunday Times about Elliot and Scottish Mortgage Trust.

Even they have used the word 'feared'.

I believe that SMT's stance was that they kept Nvidia and the high flying companies like it, because they couldn't see a better use for their cash, should they sell some.

Again, some say that if they continue ro be lieve in Nvidia going forward....and I support in theory, some of Nvidia's own mantra , to some extent, in that they are just at the start of this game changer, as an industry, they are in.

Perhaps SMT fear they might not be able to buy back cheaper in the future,as it goes from strength to strength?
Whilst some are predicting an eventual drop in the share price,who knows?
Some of the biggest names in the tech have just kept going up.

If it is carried out, will the cash lose value, as cash always does, if they cannot see anything better to invest in, as I seem to remember them claiming?

I could be wrong on that...I would have to see if those were just my thoughts.

Finally Space X!

I do hope they don't sell too much of that!
Is it just another way of attacking Musk?
Whatever, I m just a small person in the big scheme of these things.
I have admired SMT's choices of shares over the years, their advisors have been spot on.
The only reason I haven't jumped in for more recently, is because of the general market climate.
Elliot might know what they're doing but as I say I fear short termism and as a major shareholder they can over ride some of SMT's managements decisions....which I personally think is a shame.

I see space as a growing area, for investors.

Posted at 23/3/2024 16:16 by lord loads of lolly
Septblues - you’re missing my point. I’m not comparing SMT to Alliance in any way.

I’m simply pointing out that Alliance’s performance over the decade preceding Elliott’s intervention was WAY lower than the eight years following it. You can look up Alliance’s share chart quite easily to prove this.

I’m not saying the improvement was all down to Elliott, but it’s highly likely at least part of it was. Given the timing, it also wouldn’t be too much of a stretch to believe that the catalyst for SMT’s turbocharged buyback programme was Elliott’s increased intervention & holding. And the short term benefits of that are already clear for all to see - 14 March SMT closing price = 781p, 22 March = 879p.
Posted at 22/3/2024 18:20 by septblues
LLL - don't know about the pre Elliott involvement Alliance performance. Alliance has to deliver c 2% + dividend yield whereas SMT doesn't. Alliance is also a broader based Investment Trust with a different benchmark. But I do see that SMT has underperformed Alliance over 3 years and therefore noticeable to Elliott, whereas SMT has out performed Alliance over 10 years without Elliott. Alliance tracks its benchmark very closely, whereas SMT outperforms its benchmark. Alliance also outsources its stock picking since Elliott involvement so comparisons may not be like for like.
Posted at 19/2/2024 11:29 by steeplejack
Well not the NASDAQ which has continued to hit new all time highs over the last year or two.PCT is also at an all time high.SMT remains a half of its all time high.

Anyway,i’ve said enough so i’ll wish you happy days and goodbye.I’m pretty confident that SMT will experience further recovery and unlike some,quite appreciate the somewhat contentious large holdings in private companies.

(Incidentally,if hadn’t a holding in SMT,would that in someway,invalidate my comments.Afterall,i’ve been a PREMIUM member here for years and contribute to keeping the lights on.Yet,I don’t object to FREE members like Loads of Lolly having their penny’s worth!)
Posted at 19/2/2024 10:26 by steeplejack
Yes i hold SMT and have for sometime.i bought the stock a few years back and all went well for awhile but as you’ll be aware,the stock has more than halved since the stock was around 16 quid and traded at a premium to assets.

I would consider my comments to be constructive criticism.The company has an excellent track record albeit in the last couple of years it has fallen behind the likes of ATT and PCT whose long term track record is now superior.Things don’t stay the same for evermore and one wonders whether Andersen’s departure doesn’t signal a wind change.Most investment trusts concentrated in the US (especially the Nasdaq ) market have enjoyed exceptional success in the last quarter of a century,especially compared to those invested primarily in the UK.If you want doe-eyed appreciation of SMT,you’re not going to get it from me.Tesla was a coup for SMT but that flagship holding was replaced by Moderna which has been anything but a success.Not a good choice.Moderna might have fallen below Nvidia and ASML as percentage holdings but this is primarily because of a dreadful underperformance by the former.You see,the SMT managers aren’t infallible,who is!No worry,if things don’t improve the stock will slowly but surely slip down the rankings and will barely draw comment.

PS You see,in some of my portfolios,i’m actually running a loss in SMT and i’m more than interested as to analyse why.The same doesn't apply to PCT and ATT .I would reiterate that i don’t hold significant holdings of investment trusts.
Posted at 14/2/2024 06:52 by takeiteasy
Please explain why when Nvidia is up 49% YTD and clearly a great investment choice (alongside ASML, Amazon, Ferrari, Shopify etc) and Nasdaq is up 6% YTD, SMT as a whole is down over 3% YTD - surely there is more to discuss here than just Nvidia.

If you look at the performance tab on SMT website they quote FTSE all world index as their reference point which is up over 5% 2024 YTD. So 8% tracking error already in less than a couple of months in 2024 (as context SMT c.9% also down over 1 year too against this index) - I wonder why....

dyor etc
Posted at 03/11/2023 08:40 by steeplejack
Interesting article.What it shows is that amongst a list of well known investment trusts SMT is the worst performer over one and three years.Thus the discount to NAV is in part at least justified by poor performance.The mystic that SMT enjoyed is being steadily eroded.Polar Capital looks a far less controversial choice given it doesn't have a 30% interest in unquoted.I suppose you're left struggling with semantics when considering whether SMTs investment strategy needs more time to play out.How long is long term?However,this bottom of the table position,suggests that SMT has a lot of stale bull holders who'll be only too keen to get the hell out when things do hopefully recover.I estimate that SMT's holding in Moderna has(compared with having the money in cash)knocked around 6% off SMTs NAV.
Posted at 02/8/2023 10:27 by steeplejack
I know perfectly well that the Moderna holding was initially purchased before Anderson left.I know perfectly well that SMT initially made timely purchases of Moderna but then chased the price higher and that the fund probably now has a fairly sizeable overall loss on its holding.I’m not ‘worried’; about SMT’s holding in Moderna or my holding in SMT for that matter but i am ‘critical̵7;.I hold about 50 stocks internationally from Apple to British Aerospace but one thing i’ve learned over the years is that if you have a lossmaker like Moderna,sooner or later you are going to have to apply yourself to dealing with it not citing that in ‘the long term’ it might all come right.It might well,even a stopped clock etc but investment is all about opportunity cost and even if Moderna does eventually come right,SMT made a serious error in its purchasing of the stock and i’m intrigued as to how the management is going to deal with this lame flagship holding.Call it a test of character.

There are strong points in SMTs favour.Its been pretty canny in avoiding a sizeable exposure to China which is only around 10% of the fund and it also has a strong stable of private companies which i happen to like (Wise is a real success story).It has an inherent bias towards high tech growth companies and thus the US.When the SMT share price recovers which inevitably it will (especially given the current discount) i’ll probably sell some.I won’t be averaging down though at these bombed out prices,if i wanted to buy an investment trust with some SMT characteristics i’d buy PCT,its certainly less contentious.

I won’t comment on Moderna again,even I'm becoming bored with my criticism and afterall,the stock price is now some 70% off its peak.(By the by,Moderna are announcing results tomorrow).

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