US: Calpers Made Big Changes in its İnvestment Portfolio

US: Calpers Made Big Changes in its İnvestment Portfolio The largest public pension in the US has made huge changes in the second-quarter of its investment portfolio by selling Apple stock and buying instead AMD, Regeneron and Marijuana stocks. After it was reported that iPhone sales have declined in China, Apple shares fell sharply last week, while AMD stock has soared 77.3% year to date, including a 54.5% leap in the third quarter. All of that and more made California Public Employees’ Retirement System_known as Calpers_ takes the selling decision. Calpers sold Apple stock in the quarter, and bought more shares of chip giant Advanced Micro Devices (AMD), biotech firm Regeneron Pharmaceuticals (REGN), and marijuana firm Tilray (TLRY). Calpers lowered its investment in the iPhone maker to 9.2 million shares after selling over than 1 million Apple shares in the second quarter. This outperformance of AMD shares comes after Intel (INTC) faltered. Some observers believe that the latter is losing more market share to AMD. The pension bought 287,472 more AMD shares in the quarter, ending June with 2.6 million shares. On the other hand, Calpers bought 654,007 additional Regeneron shares in the second quarter, increasing its investment to 837,998 shares. The pension also materially raised its investment in Tilray stock by buying 160,500 shares in the quarter, raising its holdings to 204,700 shares of the marijuana grower. It worth mentioning that Tilray's latest report for the second quarter was a disappointment as the company  had reported a smaller-than-expected loss in the first quarter. You might also be interested in:

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