Canada Pension fund increases held Apple shares by 50%, slashes Tesla stake by 53%

Posted:
in General Discussion
The Canada Pension Plan Investment Board boosted its held Apple shares by 50% in the first quarter of 2023, just after slashing held EV stocks like Tesla at the end of 2022.

CPP sells Tesla, buys Apple stock
CPP sells Tesla, buys Apple stock

Apple continues to be a strong stock to hold as it grows quarter to quarter. Investment firms like the Canada Pension Plan tend to choose company stocks that signal strong growth potential.

According to a report from Barron's, the Canada Pension Plan Investment Board, or CPP, bought 255,943 more Apple shares in the first quarter. That brought its stake in Apple to 760,518 shares or a 50% increase.

At the end of 2022, the CPP slashed positions in multiple EV makers like Tesla, NIO, XPeng, and Li Auto. Those investments are now down to 454,055 shares, 1.6 million American depositary receipts, 61,000 ADRs, and zero ADRs, respectively, from 959,728 shares, 2.3 million ADRs, 621,300 ADRs, and 536,797 ADRs, respectively, at the end of 2022.

Looking at Tesla specifically, that's about a 53% reduction in held shares. The report says Tesla stock grew by 68% in Q1 2023, while Apple stock only rose 27% in the same quarter.

CPP didn't comment on why it purchased more Apple stock or why it dumped large amounts of EV-related stock. It is the largest pension fund in Canada.

Read on AppleInsider

Comments

  • Reply 1 of 7
    chasmchasm Posts: 3,380member
    Because Canadians aren’t stupid, that’s why.
    Oferwilliamlondonbeowulfschmidt
  • Reply 2 of 7
    I see they’re employing the reverse strategy of buy low, sell high. Selling TSLA at its lowest in 2 years. I guess they bought AAPL at a relative dip if it was around new years. 
    williamlondon9secondkox2
  • Reply 3 of 7
    eriamjheriamjh Posts: 1,677member
    AAPL has been outperforming TSLA for the last several months.   AAPL will continue to have steady growth long term.  

    TSLA is going to start to pop when FSD and Tesla not come online.  It could be years.  TSLA is going to rise as it’s revenue bests all other automotive companies and as it’s sales grow more and more.   


    Oferwilliamlondon9secondkox2
  • Reply 4 of 7
    9secondkox29secondkox2 Posts: 2,852member
    Not surprising. Apple is a great investment. 

    So is Tesla, but Canada’s PM has gone a wee bit “out there.” 

    “Your successful company is connected with freedom ideals? Can’t have that! Disinvestment commencing in 3..2..1…”
    edited May 2023
  • Reply 5 of 7
    9secondkox29secondkox2 Posts: 2,852member
    I see they’re employing the reverse strategy of buy low, sell high. Selling TSLA at its lowest in 2 years. I guess they bought AAPL at a relative dip if it was around new years. 
    Political moves are rarely motivated by intelligence or logic. 
  • Reply 6 of 7
    chutzpahchutzpah Posts: 392member
    I see they’re employing the reverse strategy of buy low, sell high. Selling TSLA at its lowest in 2 years. I guess they bought AAPL at a relative dip if it was around new years. 
    Buy low sell high isn't a strategy.

    Buy when you think it's going to go up, sell when you think it's going to go down.  Where it's been in the past is irrelevant, except where it serves to inform you about what might happen in the future.
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