Canada Pension Plan, one of the largest in the world, doubled its investment in Apple stock, initiated a position in Alibaba, and bought more Microsoft and...
One of the largest public pensions in the world recently invested heavily in big technology stocks, and initiated a stake in a battered Chinese stock.
CPP Investments declined to comment on the investment changes. As of Dec. 31, 2023, the fund had assets of $435 billion. Canada Pension Plan is one of the 10 largest public pensions in the world by assets, according to WTW and the Sovereign Wealth Fund Institute. Apple provided disappointing revenue guidance in early February that overshadowed its strong fiscal-first-quarter report. Later that month, a report said Apple halted efforts to produce an electric vehicle, and shifted resources to developing generative artificial-intelligence software.
Newsletter Sign-up If Tesla investors were relieved that Apple was killing its plans to make an EV, they didn’t show it. Shares of Elon Musk’s company barely moved on the news, as a sector malaise continues. The Wall Street Journal reported in December that EV sales were losing momentum. For Tesla in particular, a troubling sign is that it fell behind China’s BYD in quarterly EV sales for the first time in the fourth quarter.Alibaba American depositary receipts slipped 12% last year, and are 3.
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