New York Retirement Fund Loads Up On Tesla, Amazon — Trims These Big Tech Holdings

The New York State Teachers Retirement System has loaded up on Tesla Inc TSLA and, Inc AMZN shares during the third quarter, according to Whale Wisdom. 

The fund has increased its holding of Tesla by over 171,000 shares during the quarter, taking the valuation of its holdings to over $837 million, the website shows.

Tesla shares have lost over 13% in the last month. The EV maker is reportedly under criminal investigation in the U.S. over claims that its electric vehicles can drive themselves.

The NYSTRS has also bought over 100,000 shares of Amazon during the quarter, taking the valuation of its holdings to over $1.18 billion, according to Whale Wisdom.

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Amazon shares have lost over 8% in the last month. The company reported third-quarter revenue of $127.1 billion which came in shy of a Street estimate of $127. 84 billion. It has given fourth-quarter revenue guidance in the range of $140 billion to $148 billion as compared to an analyst estimate of $155.15 billion. Interestingly, the weak forecast by Amazon coupled with other disappointing earnings wiped off $200 billion in U.S. stock market value in extended trading last week on Thursday.

Major Sales: The fund sold over 41,000 shares of Microsoft during the quarter, bringing down the value of its holding to just over $2 billion, according to Whale Wisdom. The website also showed the fund reduced its holding of Alphabet Inc Class C GOOG GOOGL shares by over 200,000, bringing the valuation of its holding down to slightly over $619 million.

Read Next: Apple, Amazon, Intel, AMD, Tesla: 5 Stocks On Investors’ Radar Heading Into New Week


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