The largest U.S. pension fund by assets sold nearly all its investment in Chinese e-commerce giant Alibaba Group Holding Limited (NYSE: BABA) and also cut its stake in videogame retailer GameStop Corp. (NYSE: GME) in the recent first quarter, while increasing its holding in Zoom Video Communications Inc. (NASDAQ: ZM). What Happened: California Public Employees' Retirement System, also known as Calpers, announced the investment changes in a regulatory filing.
GameStop, Palantir, Alibaba — Stocks Largest US Pension Fund Sold In Q1. Here's What It Bought Instead