The largest pension fund in the United States reduced its stock position in the first quarter, clearing out LI AUTO-W and reducing holdings in Apple and NIO-SW!
Earlier, it was reported that some of the largest pension funds in the United States are considering reducing their stock investments and increasing private credit to cope with the possibility of long-term economic slowdown.
CalPERs, the largest public pension fund in the United States, recently reduced its position in stocks with outstanding performance in its investment portfolio.
Earlier, it was reported that in the first quarter of this year, CalPERs, which manages $455 billion in assets, sold stocks of Apple, Intel, and NIO.
In the first quarter, CalPERs:
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Sold 7 million shares of Apple stock, reducing its holdings to 36.4 million shares;
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Sold 1.1 million shares of Intel stock, reducing its holdings to 9.8 million shares;
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Liquidated 1.1 million shares of NIO ADR;
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Sold 390,000 shares of NIO ADR, reducing its holdings to 2.2 million shares.