A Huge Pension Fund Bought Netflix, Disney, Microsoft And Sold This Gaming Stock In Q2

Ontario Teachers’ Pension Plan has significantly raised its exposure in Netflix Inc NFLX, Microsoft Corp MSFT and Walt Disney Co DIS, regulatory filings revealed on Friday.

What Happened: The largest Canadian investment management firm with $221.2 billion in net assets, sold Tesla Inc. TSLA convertible notes worth $502.82 million, at the end of the second quarter. 

The pension fund slashed the bulk of the holdings in Tesla bonds that were due to mature in 2024 while the rest were due in 2022.

The money manager also raised its exposure in Netflix threefolds during the quarter, snapping up 411,745 shares in the online video streaming company, which lifted the total stake to 584,808 shares, worth $308.9 million. 

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Netflix shares, which have fallen 4.60% so far this year, closed 1% higher at $515.92 on Friday.

The institutional investor also increased its position in Microsoft by about 43% during the second quarter as it snapped 679,019 shares, lifting the total exposure in the Satya Nadella-led company to $614.49 million. 

Microsoft shares have risen 32% so far this year and closed 1% higher at $292.85 on Friday.

The pension fund added 105,094 shares in Disney during the quarter, which lifted its stake in the entertainment conglomerate by 21.5% to a total of $104.5 million. 

Disney shares have been nearly flat so far this year but closed 1% higher at $181.08 on Friday.

Ontario Teachers’ Pension Plan nearly halved its exposure in the online gaming company Roblox Corp RBLX. 

Shares of Roblox have risen nearly 21% since its listing in March this year and closed 1.58% higher at $83.96.

The pension fund, which bought and sold shares worth $8 billion in the second quarter, shed 707 shares in Roblox but still held 18,862 shares worth about $1.69 million in the company during the period.

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