AMC, Tilray, Carnival, Alibaba, Apple, Facebook — Stocks New Jersey Pension Fund Bought And Sold In Q2

1. New Jersey’s pension fund acquired a stake in AMC Entertainment Holdings Inc. AMC while boosting its positions in Tilray Inc. TLRY and Carnival Corp. CCL in the second quarter. The fund also reduced its stakes in Alibaba Group Holding Limited BABA and Apple Inc. AAPL.

What Happened: State of New Jersey Common Pension Fund D initiated a position in movie theatre chain AMC Entertainment in the second quarter by acquiring 229,643 shares, the pension fund revealed in a regulatory filing.  

It also raised its stake in Tilray to 254,596 shares by acquiring 179,228 shares in the Canadian cannabis company and boosted its holdings in cruise operator Carnival to 504,586 shares by buying an additional 168,331 shares.

Further, the state-managed pension drastically slashed its holding in Alibaba by selling 638,634 shares to end the quarter with 334,946 shares in the Chinese e-commerce giant.

New Jersey’s pension also trimmed its holding in tech giant Apple to 9.90 million shares by selling 246,840 shares and sold 14,837 shares in Facebook Inc. FB to end the quarter with almost 1.42 million shares in the social media giant.

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Why It Matters: Companies such as AMC Entertainment, Apple, Alibaba and Tilray are seeing high interest from retail investors. Last week, Apple reported above-consensus third-quarter results.

AMC Entertainment’s year-to-date returns stand at a whopping 1,646.2% and its valuation shot past fellow stonk GameStop Corp. GME in June amid increased interest from retail investors. Stonks are stocks favored by retail investors.

Tilray recently reported a surprise profit for the fourth quarter, its first earnings results following its merger with rival Aphria Inc. in May.

Carnival reported a net loss for the second quarter that narrowed from last year, while booking volumes were 45% higher than in the preceding first quarter.

Shares of Alibaba and other Chinese companies that are listed in the U.S. have fallen in recent days amid mounting regulatory concerns in China and strained U.S.-China relations.  

Price Action: AMC Entertainment shares closed 2.9% lower in Friday’s trading at $37.02, while Apple shares closed almost 0.2% higher at $145.86.

Photo: By Samantha Celera on Flickr

Alibaba shares closed almost 1.2% lower in Friday’s trading at $195.19.

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