Canada’s largest annuity has changed its US-listed investments significantly.
The Canada Pension Plan Investment Board has cut positions in
AT & T.
Share (T) in the third quarter. The board of the CPP also bought
Camp (C). The pension revealed, among other things, the stock deals in submitted a form with the Securities and Exchange Commission.
The CPP had no comment on the stock deals. Managed the pension Net worth of $ 330 billion As of June 30th.
In the third quarter through the end of September, the CPP sold the equivalent of 367,499 Tesla shares after the split with 74,441 shares in the electric car manufacturer. Tesla stock split 5-for-1 am end of August.
Tesla stock is up nearly 500% year-to-date by Friday’s close of trading and is up 14.1% in the fourth quarter. For comparison: The
S&P 500 index,
A broad measure for the market is up 10.1% this year, including a 5.8% increase in the fourth quarter.
The annuity sold 2.6 million GE shares in the third quarter, ending the period with 1.7 million shares in the conglomerate.
The loss of GE shares since the beginning of the year is 18.5%. However, that includes a 57% rally since the end of the third quarter.
The AT&T share also lost 27.5% of its market value this year and was largely unchanged in the fourth quarter.
We found that the high dividend yield – more than 7% – is on AT&T stocks looks safe. Burglaries at DirecTV and Warner Bros. last quarterSales and profits. Last week, AT&T announced that it had signed a contract for the HBO Max streaming service available through
CPP sold 4.2 million AT&T shares in the third quarter and reduced its investment to 2.8 million shares.
The pension bought 800,000 additional Citigroup shares by the end of September with 3.7 million shares in the banking giant.
Citigroup stock is down 35% year-to-date, including a 20% rally in the fourth quarter.
In October the bank was fined $ 400 million for deficiencies in its risk management controls. Citigroup Exceeded estimates in the last quarter. Recently a business leader created the largest free market Buying stocks from a Citigroup insider in years.
Inside Scoop is a regular Barron feature that covers the stock trades of executives and board members – so-called insiders – as well as major shareholders, politicians and other prominent figures. Because of their insider status, these investors are required to disclose stock transactions to the Securities and Exchange Commission or other regulatory authorities.
Write to Ed Lin at [email protected] and follow @BarronsEdLin