CalPERS has invested in 3Q in Nikola (NKLA) and NIO (NIO), and has increased its shares in Tesla (TSLA) and multiplied its investment in Zoom Video Communications (ZM). CalPERS has submitted data on these investments to the Securities and Exchange Commission (SEC), but more details are not available at this time.
CalPERS Pension Fund manages $400 billion worth of assets.
Nikola hydrogen truck and pickup truck startup
CalPERS acquired a large stake in Nikola, a manufacturer of pickup trucks and trucks operating on alternative fuels, during a strong decline in its shares. The latter acquisition of 205,792 shares in Nikola increased CalPERS' ownership to a total of 261,546.
Nikola still has a chance to close a deal with General Motors (GM) that sought to acquire an 11% stake in Nikola for $2 billion as there was no announcement of the deal's cancellation.
It should be noted that an investigation is currently underway into a case where the company has previously misled investors.
The growth of NIO Limited (NIO) shares on the NYSE this year exceeded 1008%, with the main growth in the last half of the year. This is many times more than the 11.6% increase in the S&P 500 index, which reflects the broad market dynamics, which has grown by 23.4% in the last half of the year.
By the end of September, CalPERS had acquired 381,439 NIO depositary receipts worth $2.3 million.
Zoom video communication platform
The largest American pension fund also acquired 312,406 (ZM) shares in the 3Q, increasing its ownership to 653,764
This year 2020, the company's shares (ZM) have grown by almost 500%. Moreover, a significant drop of 19.3% occurred last week due to the news that Covid-19 vaccine will soon be released.
In documents sent to the Securities and Exchange Commission, CalPERS purchased 38,373 additional shares of Tesla (TSLA) in 3Q, increasing its ownership to 1.69 million shares.
(TSLA) shares rose 390% this year, with a 4.8% decline at the end of September.