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I had mixed feelings when I added\u00a0Scottish Mortgage (LSE: SMT) shares to my SIPP in 2023. The FTSE 100 investment trust rode the boom in US tech stocks such as\u00a0Amazon\u00a0and\u00a0Tesla\u00a0under inspirational manager\u00a0James Anderson, then took a massive hit when tech sold off in 2022.<\/p>\n
The share price crashed by half that year, a steeper fall than most funds in the sector. Anderson retired after almost 40 years at the firm, leaving\u00a0successor Tom Slater with a lot to live up to. However, I like buying top stocks after they\u2019ve taken a (hopefully temporary) beating, and took the plunge.<\/p>\n
Last week marked a personal milestone, as my total return hit 102%, doubling my initial stake. I\u2019m not the only one having fun. The Scottish Mortgage share price has jumped 67% over 12 months and 120% over three years. Over five years the gain is a more modest 16%, which shows how brutal 2022 was.<\/p>\n
Today, one big story drives the bull case. The trust\u2019s largest holding is\u00a0SpaceX, the privately owned space and satellite business founded by\u00a0Elon Musk\u00a0in 2002. SpaceX pioneers reusable rockets, launches satellites and runs the Starlink internet network. It also has dizzying ambitions, including orbital data centres, a permanent Moon base and ultimately, even a human colony on Mars. It\u2019s not often investors get all that from a FTSE 100 stock.<\/p>\n
At the start of this month, SpaceX reportedly filed the paperwork on its long-awaited initial public offering (IPO), targeting a stunning $1.75trn valuation, potentially the largest listing ever. Investors are itching to put their money into it, but why wait? They can gain exposure via Scottish Mortgage today.<\/p>\n
The investment trust got in early. After a recent upwards valuation, SpaceX now accounts for close to 20% of its total assets under management. Second-biggest holding Taiwan Semiconductor Manufacturing Company is far behind at just 6.6%.<\/p>\n
Scottish Mortgage also has exposure to big US names such as ASML Holding,\u00a0Amazon, Nvidia and\u00a0Meta Platforms, alongside smaller quoted and private firms. Thanks to SpaceX, there\u2019s now a lot of concentration risk here. That\u2019s working in its favour today. The shares have jumped 18.8% in the last month, despite wider geopolitical concerns. A \u00a315,000 investment one month ago is now worth around \u00a317,820, a quickfire gain of \u00a32,820.<\/p>\n
As a rule, I avoid IPOs. They generate huge excitement, but valuations can tumble afterwards. Musk is also spinning a ridiculous number of plates, and X\u00a0and Tesla have both struggled. I\u2019m still thrilled with my decision to buy Scottish Mortgage, and feel a little smug having exposure to SpaceX. For the record, Scottish Mortgage also has a stake in AI disruptor\u00a0Anthropic, which is constantly in the headlines these days.<\/p>\n
I think they shares are worth considering but anyone buying Scottish Mortgage must accept there could be plenty of volatility either side of the IPO. The trust isn\u2019t cheap either. Today, it trades at a 4.1% premium to net asset value, despite recent share buybacks aimed at reducing that. That\u2019s the price of success, I suppose. This remains a high-risk, high-reward play, but there\u2019s room for one or two of those in a portfolio. Provided there\u2019s balance elsewhere.<\/p>\n
The post \u00a315,000 invested in red-hot Scottish Mortgage shares 1 month ago is now worth\u2026<\/a> appeared first on The Motley Fool UK<\/a>.<\/p>\n More reading<\/p>\n Harvey Jones has positions in Nvidia and Scottish Mortgage Investment Trust Plc. The Motley Fool UK has recommended Amazon, Meta Platforms, Nvidia, Taiwan Semiconductor Manufacturing, and Tesla. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.<\/a><\/p>\n Motley Fool UK 2026<\/p>\n","protected":false},"excerpt":{"rendered":"Image source: Getty Images I had mixed feelings when I added\u00a0Scottish Mortgage (LSE: SMT) shares to my SIPP…\n","protected":false},"author":2,"featured_media":17294,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[8026,8025,5486,8027,5,6],"class_list":{"0":"post-17293","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-uk","8":"tag-investment-trust","9":"tag-james-anderson","10":"tag-spacex","11":"tag-tom-slater","12":"tag-uk","13":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/116432555417370680","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/17293","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=17293"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/17293\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/17294"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=17293"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=17293"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=17293"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}