The Retirement Systems of Alabama, the administrator of the pension fund for employees of the state of Alabama, increased its stake in Tesla in Q3 2022.
Retirement Systems of Alabama is based out of Montgomery. According to Whale Wisdom, their last reported 13F filing for Q3 2022 included $21,500,676,000 in managed 13F securities and a top 10 holdings concentration of 22.2%. Retirement Systems of Alabama's largest holding is Apple Inc with shares held of 7,635,216. Whalewisdom has at least 39 13F filings, 2 13G filings, and 3 Form 4 filings
The 13F filing revealed that the fund acquired shares in Tesla Inc. in the third quarter of this year. According to the website, the Retirement Systems of Alabama added more than 50,000 of the manufacturer’s shares, taking the value of its holdings to over $332 million during the quarter. The fund took advantage of Tesla's share price decline to benefit from it.
In late October, it also became known that the State of Michigan Retirement System has more than doubled its stake in Tesla Inc. The report showed that at the moment, the fund owns 720,857 Tesla shares. This means that 494,000 Tesla shares were added in Q3.
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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.