Big Asset Sale of Apple and Tesla stock. Here is what he bought.

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One of the largest public pensions in the U.S. has recently made some major changes in its stock investments.

The Ohio State Teacher Retirement System cut back on investments in

Apple

(ticker: AAPL) and

Tesla

stock (TSLA) in the third quarter, and bought more shares of

General motors

(GM) and

Alibaba Group holds

(BABA). STRS Ohio, as the pension is known, appeared the trades, among others, in a form submitted by 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 the stock practices.

The pension sold 864,478 shares Apple subdivided in the third quarter to cut its position in iPhone maker to 9.8 million shares as of Sept. 30. Apple stock share 4 for 1 at the end of August.

Apple shares have risen 80% year-to-date through Thursday’s close, including a 14% gain so far in the fourth quarter. By comparison, the

S&P 500 index,

overall market share, up 14.6% year to date, up 10.1% so far in the fourth quarter.

Apple was raised with a recent report that demand for its 5G iPhones has been stronger than expected, and one analyst is seeing shares continue their rally in 2021. Profitability is on the rise. that Apple is actively developing a car, but we are skeptical about a company. rummaging into electric vehicles. However, we are optimistic about the stock, and Apple is one of the top 10 stocks for next year.

STRS Ohio sold 41,987 shares of Tesla subdivided to the end of September by 316,583 shares of the electric vehicle maker. Tesla stock share 5 for 1 at the end of August.

Tesla’s stock price has risen nearly 700% in 2020, including a 54.3% rise in the fourth quarter alone.

Tesla entered the S&P 500 earlier this month, adding the most valuable company to its index. Barry Ritholtz, chairman and chief investment officer of Ritholtz Wealth Management, recently said, “Tesla has already moved the pattern. They have already won. ”

GM stock has added 13.6% in 2020, including a 40.5% increase since the end of September.

GM last month suspended an agreement with

Nikola

(NKLA), a manufacturer of other fuel powered trucks. We have suggested that GM stocks could continue to rise in 2021 on employment growth as the economy recovers. GM could even resume paying a installment next year.

Ohio’s STRS bought an additional 750,442 GM shares in the third quarter, raising its investment to 2.8 million shares of the automotive giant.

The pension bought 46,700 American investment receipts from Alibaba in the quarter, ending in September with 205,434 ADRs from China’s internet giant.

Alibaba ‘s ADRs have gained 4.7% so far, including a 24.5% fall so far in the fourth quarter.

Chinese regulators have pressured Alibaba and their peers about their business practices. Also, Alibaba co-founder Jack Ma himself has defied backing in China. Also with emphasis on the ADRs is the potential for listing in the US

Inside Scoop is Barron’s regular feature covering stock deals with corporate officers and board members – so-called attackers – as well as major shareholders, politicians and other celebrities. Because of their internal status, these investors are required to declare stock trading with the Securities and Exchange Commission or other regulatory bodies..

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