Oregon’s pension, one of the largest in the U.S., slashed positions in chip makers Nvidia and Intel, and auto makers Ford and GM in the third quarter.
Oregon’s pension and retirement system reduced positions in some of its largest holdings, including makers of chips and autos.
The pension sold 92,207 Nvidia shares to end the third quarter with 392,422 shares. Nvidia stock tripled in the first nine months of 2023, more than making up for a 50% plunge in 2022. So far in the fourth quarter shares are up 3.4%. For comparison, the S&P 500 index rose 12% in the first nine months of 2023, after a 19% drop in 2022. So far in the fourth quarter, the index is up 1.6%.
Newsletter Sign-up Intel stock rose 35% in the first nine months of 2023, following a 49% drop in 2022. So far in the fourth quarter, shares are up 7.3%. OPERF sold 574,828 Intel shares to end the third quarter with 1.8 million shares. The pension sold 622,672 Ford shares in the third quarter to lower its investment to 1.9 million shares.
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