This Giant Fund Cuts Back On Apple And Microsoft Stocks, Picks Up Tesla And Nvidia
Portfolio Pulse from Benzinga Neuro
AustralianSuper, one of the world's largest pension funds, has reduced its positions in Apple Inc. and Microsoft Corp., increased its stake in Tesla Inc., and initiated a position in Nvidia Corp. in Q2 2023. This comes despite significant surges in Apple and Microsoft's stocks in the first half of 2023. Tesla shares have slipped due to production outlook concerns, while Nvidia's stock nearly tripled due to AI enthusiasm.

August 07, 2023 | 2:13 am
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NEGATIVE IMPACT
AustralianSuper has reduced its position in Apple Inc. despite a 49% surge in the stock in H1 2023.
The reduction in AustralianSuper's position in Apple Inc. could potentially lead to a decrease in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
AustralianSuper has sold 1.5 million Microsoft Corp. shares despite a 42% surge in the stock in H1 2023.
The sale of 1.5 million Microsoft Corp. shares by AustralianSuper could potentially lead to a decrease in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
AustralianSuper has initiated a position in Nvidia Corp., buying 226,955 shares.
The initiation of a position in Nvidia Corp. by AustralianSuper could potentially lead to an increase in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
AustralianSuper has increased its stake in Tesla Inc., buying an additional 138,573 shares.
The increase in AustralianSuper's stake in Tesla Inc. could potentially lead to an increase in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100