A large fund sold the stock to Apple and Tesla. Here’s what he bought.

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One of the largest public pensions in the US has recently made some major adjustments in its equity investments.

Ohio’s state teacher retirement system has reduced investment in

Apple

(ticker: AAPL) and

adze

(TSLA) in the third quarter and bought several shares of

General engines

(GM) and

Alibaba Group Holding

(BABA). STRS Ohio, as the pension is known, disclosed the transactions, among other things, in a form submitted to the Securities and Exchange Commission.

STRS Ohio, which managed $ 80.9 billion in assets as of June 30, did not respond to a request for comment on share transactions.

The pension sold 864,478 Apple post-division shares in the third quarter to reduce its position in the iPhone maker to 9.8 million shares as of September 30. Apple shares split 4 for 1 at the end of August.

So far, Apple shares have risen 80% as of Thursday’s closing date, including a 14% increase so far in the fourth quarter. By comparison,

S&P 500 Index,

a broader measure of the market, it has grown by 14.6% so far, including 10.1% so far in the fourth quarter.

Apple was picked up by a recent report that demand for its 5G iPhones was stronger than expected, and an analyst sees shares continue to rally in 2021. It is speculated that Apple is actively developing a car, but we are skeptical company foray into electric vehicles. However, we are optimistic about the shares, and Apple is one of the top 10 offers for next year.

STRS Ohio sold 41,987 Tesla shares post-split to end September with 316,583 shares of the electric vehicle maker. Tesla shares split 5 to 1 at the end of August.

Tesla’s share price rose by almost 700% in 2020, including an increase of 54.3% in the fourth quarter alone.

Tesla joined the S&P 500 earlier this month, the most valuable company ever added to the index. Barry Ritholtz, President and CEO of Ritholtz Wealth Management, told us recently: “Tesla has already changed the paradigm. They have already won. ”

GM shares rose 13.6% in 2020, including a 40.5% increase since the end of September.

GM last month struck a deal with

Nikola

(NKLA), a manufacturer of alternative fuel trucks. We suggested that GM shares could continue to grow in 2021 as earnings increase as the economy recovers. GM could resume dividend payments next year.

STRS Ohio bought an additional 750,442 GM shares in the third quarter, increasing the investment to 2.8 million shares of the car giant.

The pension bought 46,700 US Alibaba storage receipts in that quarter, ending in September with 205,434 ADRs from the Chinese internet giant.

Alibaba ADRs have gained 4.7% so far, including a decline of 24.5% so far in the fourth quarter.

Alibaba and its colleagues have been pressured by Chinese regulators about their business practices. Alibaba co-founder Jack Ma also faced a negative reaction in China. Weighing ADRs is also a potential deletion in the United States

Inside Scoop is a common feature of Barron, which covers the stock transactions of corporate executives and board members – the so-called insiders – as well as large shareholders, politicians and other prominent figures. Due to their privileged status, these investors are required to disclose transactions in shares with the Securities and Exchange Commission and other regulatory groups..

Write to Ed Lin at [email protected] and follow @BarronsEdLin.