Giant Fund Sold Apple, Microsoft Stock, Bought Tesla, Nvidia

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AustralianSuper, one of the world’s largest pensions, halved its Apple stock investment in the second quarter.

Joe Raedle/Getty Images

One of the largest pensions in the world just disclosed major investment changes in its largest stockholdings.

AustralianSuper slashed positions in


(ticker: AAPL) and


(MSFT), bought more shares of electric-vehicle maker


(TSLA), and initiated a position in chip provider


(NVDA) in the second quarter. The pension disclosed the stock trades, among others, in a form it filed with the Securities and Exchange Commission.

AustralianSuper declined to comment on the investment changes. As of June 30, 2022, it managed $170 billion in assets, making the pension Australia’s biggest, and the world’s 20th largest.

Apple stock soared 49% in the first half of 2023, compared with a 16% rise in the S&P 500 index. So far in the third quarter, shares are down 6% compared with the index’s flat performance.

Barron’s has noted that an investment in Apple stock has been
Warren Buffett’s
biggest investment coup. One reason why he bought the stock was that when Buffett would take his grandchildren to an Omaha Dairy Queen (owned by his

Berkshire Hathaway



), they would be glued to their iPhones.

Apple’s fiscal-third-quarter report last week was mixed, with earnings topping expectations while the top line disappointed. CEO Tim Cook said…


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