Largest U.S. Pension Sold Tesla Stock And Bought Costco
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The California Public Employees’ Retirement System (Calpers), the largest U.S. public pension, has sold its Tesla shares and increased its investments in Costco and AT&T. Calpers halved its Tesla stake and sold 718,713 shares of GE Aerospace while acquiring 6.5 million additional AT&T shares, raising its total to 29.5 million. It also bought 329,107 more Costco shares, totaling 1.6 million. Both Costco and AT&T stocks have risen over 30% in 2024, outperforming the S&P 500's 25% gain. Calpers manages over $400 billion in assets for California.
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