Second-largest U.S. pension makes significant changes to its stock investments
- The second-largest U.S. public pension, Calstrs, made significant changes to its stock investments
- Calstrs reduced its stake in AMC Entertainment Holdings and trimmed positions in NIO, Spotify, and Johnson & Johnson
- AMC stock has plummeted 80% in the first nine months of 2023
- Calstrs’ total investment assets stood at $304.9 billion as of Oct. 31
- NIO ADRs slipped 7.3% in the first nine months of 2023
- Spotify stock doubled in the first nine months of 2023
- Johnson & Johnson stock slipped 12% in the first nine months of 2023
The California State Teachers’ Retirement System (Calstrs), the second-largest U.S. public pension, has made material changes in its stock investments. Calstrs drastically reduced its investment in theater chain AMC Entertainment Holdings and trimmed positions in Chinese electric-vehicle maker NIO, streaming-content firm Spotify Technology, and pharmaceutical firm Johnson & Johnson in the third quarter. AMC stock has plummeted 80% in the first nine months of 2023. Calstrs’ total investment assets stood at $304.9 billion as of Oct. 31. NIO ADRs slipped 7.3% in the first nine months of 2023, while Spotify stock doubled and Johnson & Johnson stock slipped 12% during the same period.
Factuality Level: 7
Factuality Justification: The article provides information about the California State Teachers’ Retirement System’s stock investments and the changes it made in the third quarter. It also mentions the performance of AMC, NIO, Spotify, and Johnson & Johnson stocks. The information provided seems to be based on disclosed stock trades and public statements. However, there is no analysis or commentary on the accuracy or reliability of the information, and there is no indication of any independent verification of the facts.
Noise Level: 3
Noise Justification: The article provides information on the stock trades made by the California State Teachers’ Retirement System, but it lacks analysis or insights into the implications of these trades. It also includes some irrelevant information about AMC stock and unrelated news about NIO, Spotify, and Johnson & Johnson. Overall, the article contains a lot of noise and filler content.
Financial Relevance: Yes
Financial Markets Impacted: The article provides information about the California State Teachers’ Retirement System (Calstrs) making changes in its stock investments, including reducing its investment in theater chain AMC Entertainment Holdings, trimming positions in Chinese electric-vehicle maker NIO, streaming-content firm Spotify Technology, and pharmaceutical firm Johnson & Johnson.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article focuses on the financial activities of Calstrs and the changes it made in its stock investments. There is no mention of any extreme event or its impact.
Public Companies: AMC Entertainment Holdings (AMC), NIO (NIO), Spotify Technology (SPOT), Johnson & Johnson (JNJ)
Key People: Adam Aron (CEO of AMC Entertainment Holdings)
Reported publicly:
www.marketwatch.com 
