Asset Allocation
Pennsylvania Pension Fund Seeks Divestment of Tesla Shares
The board of Lehigh County’s pension fund has paused purchases of the company's stock and seeks a full divestment.
Tag: Elon Musk
Market Moves
State Treasurers Call on Tesla Board to Ensure Musk’s Focus on Company
A letter from Americans for Responsible Growth called for board engagement with stakeholders, as well as oversight of the automaker’s key executive.
Pensions
NYC Comptroller Brad Lander Takes Aim at Elon Musk’s Political Ventures
New York City’s comptroller, whose office oversees five pension funds, is pursuing securities litigation against the Tesla board of directors over its alleged failure to provide oversight over Musk.
Pensions
Danish Pension Fund: Musk ‘Destroying’ Tesla Brand, Value
The $21 billion AkademikerPension announced it will sell its remaining shares of Tesla stock unless a shareholder proposal is approved in June.
Shop Talk
How Chris Ailman Cemented a Legacy of ESG Activism
The long-serving CalSTRS CIO, who retires June 30, used the pension giant’s financial heft to press companies toward more sustainable paths.
Risk
Large Institutional Investors Rally Against Tesla Pay Package
NBIM, CalSTRS among funds voting against $56 billion pay package for executive Elon Musk.
Pensions
NYC Pensions Oppose Tesla Executive Pay Package
New York City Comptroller Brad Lander and seven other investment firms oppose Elon Musk’s proposed $56 billion pay package.
Research
Magnificent Seven’s Earnings Have Peaked, BofA Says
The big tech companies’ previous cost cutting boosted profits, but that stimulus is abating, per a bank study.
Risk
Ohio Pension Sues Amazon for Snubbing SpaceX in Favor of Blue Origin
Lawsuit alleges that ‘personal rivalry influenced Amazon’s procurement process.’
Newsmakers
CalPERS Equity Portfolio Edges Out S&P 500 Returns in Q4 2022
CalPERS’ equity portfolio returned 7.92% in the fourth quarter of 2022, eclipsing the S&P 500 performance by 84 basis points.
Newsmakers
New York State Teachers’ Posts Strong Q4 Equity Returns
The retirement system finished 2022 with its equity holding total at $40.69 billion, up from $38.46 billion the previous period.
Newsmakers
You Thought Musk’s Twitter Quest Was Iffy? Check Out These New Snags
Spawning more doubts: the shortfall on its stock price, a federal probe and a pension program lawsuit.
Newsmakers
Why Share Splits Are Hot in a Cold Market
Turns out splitting helps a stock’s price: Cue Amazon, Alphabet, and Tesla.
Newsmakers
Japan’s GPIF Seeks Data on Effect of Securities-Lending Suspension
The $1.73 trillion pension giant has issued a request for information regarding its 2019 decision to stop lending securities to short sellers.
Think Before You Tweet: Charges Against Milton Should Be a Warning
The Nikola founder could face decades in prison for allegedly false, misleading Twitter posts.