Investment Trust

Scottish Mortgage Ord

A cost-effective route into the high-growth frontier of public markets and the hard-to-access world of late-stage private equity.
Last Updated 05 December 2025
Assets Under Management
Premium Discount
/
1 Year Return (Share/NAV)
/
5 Year Annualised Return (Share/NAV)
Our Analyst's View Live Portfolio Data

Key Information

ISIN
GB00BLDYK618
Inception Date
17 March 1909
Annual Reporting Charge
0.31%
Ongoing Cost
0.31%
Management Fee
0.30%
12 Month Yield
0.34%
Source: Morningstar
Past performance is not a reliable indicator of future results

Performance

Cumulative Performance (%)

YTD 1Mo 3Mo 1Yr 3Yr Ann. 5Yr Ann. SI
NAV Total Return 2.02% 13.14% 6.91% 23.34% 19.26% -0.19% 13.08%
Share Price Total Return 3.05% 10.19% 4.49% 21.65% 19.48% 2.02% 12.11%
As at last close. NAV Total Return with debt at par.

Portfolio

Type

Equity 76.37%
Preferred 21.47%
Alternatives 1.06%
Bond 0.76%
Cash 0.27%
Other 0.08%
Mutual 0.06%

Sectors

Technology 36.45%
Consumer Cyclical 34.96%
Communication Services 12.65%
Healthcare 7.85%
Industrials 4.94%
Financial Services 2.01%
Consumer Defensive 1.14%
Basic Materials 0.00%

Countries

United States 50.50%
China 10.29%
Brazil 8.78%
Taiwan 7.02%
Netherlands 6.45%
Canada 4.61%
Singapore 3.54%
United Kingdom 2.91%
France 2.58%
Other 3.31%

Top Holdings

Name Type Weight
MercadoLibre Inc Equity 5.43%
Taiwan Semiconductor Manufacturing Co Ltd Equity 5.27%
Amazon.com Inc Equity 4.64%
NVIDIA Corp Equity 3.61%
Meta Platforms Inc Class A Equity 3.55%
Space Exploration Technologies Corp Series J Pref. Preferred Stock 3.30%
ASML Holding NV Equity 2.97%
Shopify Inc Registered Shs -A- Subord Vtg Equity 2.85%
PDD Holdings Inc ADR Equity 2.70%
Sea Ltd ADR Equity 2.66%
As at 31 Oct 2025

Tags

Explore subjects related to this fund
Growth companies Capital Growth Quality Companies Global

About the Author

Josef Licsauer
[email protected]
Josef is an Investment Trust Research Analyst and joined Kepler in September 2023. Prior to this, he was an Investment Analyst at Hargreaves Lansdown, where he was responsible for fund research across a number of sectors including Japan, Europe and Alternatives. He obtained a first-class degree in Business and Management from the University of the West of England. He also holds the Investment Management certificate.

Disclaimer

Disclaimer

Past performance is not a reliable indicator of future results. The value of investments can fall as well as rise and you may get back less than you invested when you decide to sell your investments. It is strongly recommended that as a private investor independent financial advice should be taken before making any investment or financial decision.

Kepler Partners is not authorised to make recommendations to retail clients. This report has been issued by Kepler Partners LLP, is based on factual information only, is solely for information purposes only and any views contained in it must not be construed as investment or tax advice or a recommendation to buy, sell or take any action in relation to any investment.

The information provided on this website is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject Kepler Partners LLP to any registration requirement within such jurisdiction or country. In particular, this website is exclusively for non-US Persons. Persons who access this information are required to inform themselves and to comply with any such restrictions.

The information contained in this website is not intended to constitute, and should not be construed as, investment advice. No representation or warranty, express or implied, is given by any person as to the accuracy or completeness of the information and no responsibility or liability is accepted for the accuracy or sufficiency of any of the information, for any errors, omissions or misstatements, negligent or otherwise. Any views and opinions, whilst given in good faith, are subject to change without notice.

This is not an official confirmation of terms and is not a recommendation, offer or solicitation to buy or sell or take any action in relation to any investment mentioned herein. Any prices or quotations contained herein are indicative only.  

Kepler Partners LLP (including its partners, employees and representatives) or a connected person may have positions in or options on the securities detailed in this report, and may buy, sell or offer to purchase or sell such securities from time to time, but will at all times be subject to restrictions imposed by the firm’s internal rules. A copy of the firm’s Conflict of Interest policy is available on request.

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