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Big US Pension Fund Raised Stake In Tesla And This Automaker In Q1 – Benzinga – Benzinga


The State Teachers Retirement System of Ohio, or STRS Ohio, one of the largest U.S. public pensions fund, raised its exposure to Tesla Inc (NASDAQ: TSLA) and Ford Motor Co (NYSE: F) in the first quarter while trimming its stake in General Motors Co (NYSE: GM), latest regulatory filings show. 
Raising Tesla Exposure: STRS Ohio raised its stake in the Elon Musk-led Tesla by about 10% in the three months ended March 31. The pension firm held 304,334 shares in the electric vehicle company at the end of the first quarter this year, implying it added 27,136 shares during the period.
Tesla shares, which rose 1.97% in the first quarter, closed at $1,077.6 a share on March 31. The stock is down 19% at $870.7 as of Friday’s close.
GM, Ford Stakes: In GM, STRS Ohio lowered its exposure by 1.6% to 2.8 million shares at the end of the quarter. 
Shares of GM declined 25.4% to $43.7 in the first quarter. The stock has since sunk 13% to $37.9.
The pension firm picked up a 0.5% stake in Ford, buying 7,151 shares during the quarter. It held 1.35 million shares in the Dearborn, Michigan-based Ford as of March 31.
See Also: Largest US Pension Fund Trimmed Positions In Apple, Facebook, Google, Tesla In Q2 And Loaded Up Heavily On These 2 Stocks
The pension firm counts Apple Inc (NASDAQ: AAPL), Microsoft Corp (NASDAQ: MSFT), and Amazon.com Inc (NASDAQ: AMZN) among its top three holdings.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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