One of the largest public pensions in the US reported significant changes in its equity investments. The New York State Teachers' Retirement System (NYSTRS) initiated a position in Tesla (NASDAQ: TLSA) stock worth $706 million.
NYSTRS is one of the ten largest US government pension funds. This is an investment fund managing more than $45.8 billion ran by Noreen Jones. There are currently 1,612 companies in Jones's portfolio.
In its latest filing, 13F NYSTRS revealed that it took a new position with Tesla and bought 999,948 shares for $706 million. This means they effectively own approximately 0.1% of the company. Tesla Inc makes up 9.1% of the fund's Consumer Discretionary sector allocation, and has decreased its share price by approximately 0.1% in the past year.
The New York State Teachers' Retirement System
New York State Teachers Retirement System’s portfolio is diversified across 13 sectors. Currently, their heaviest sector is Technology, making up 20.9% of the total portfolio value. The fund focuses on investments in the US as 76.6% of the portfolio companies are based in the US.
The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 24% of the total holdings value.
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Eva Fox holds zero shares of Tesla, Inc., and currently (at the time of this article's publishing) holds zero options or securities in Tesla Inc. and/or its affiliates.
About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.