CalPERS Increases Holdings in Major Tech Stocks
According to a report by Barron’s, the largest retirement fund in the United States by asset size, the California Public Employees’ Retirement System (CalPERS), increased its holdings in cryptocurrency exchange Coinbase Global, data analytics company Palantir Technologies, artificial intelligence chip maker Nvidia, and digital brokerage Robinhood Markets in the second quarter.
Documents submitted to the U.S. Securities and Exchange Commission (SEC) indicate that this retirement fund, which manages approximately $570 billion in assets, purchased 98,827 shares of Coinbase stock, bringing its total holdings to 332,791 shares by the end of the second quarter, valued at approximately $108 million based on Wednesday’s closing price.
CalPERS also raised its investments in Palantir and Nvidia by approximately 10%, with holdings reaching 3 million shares and 64.7 million shares, respectively. Furthermore, the fund added 186,687 shares of Robinhood stock, increasing its total holdings to 1,261,185 shares as of the end of June.
