Tesla, Apple Stakes Slashed By Tennessee Treasury In Q4: Here Are Its Other Big Tech Holding Cuts

The State Of Tennessee, Treasury Department trimmed stakes in some big tech stocks in the fourth quarter, the fund's latest 13F filing shows.

A major reduction was done in Tesla Inc TSLA stock with the fund selling over 48,000 shares during the quarter. The valuation of its holdings currently stands at over $130 million, according to Whale Wisdom.

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The stake sale comes during a quarter when Tesla lost over 50% of its value. Interestingly, the shares have gained over 98% since the beginning of 2023.

Tech stocks did not see any positive momentum during the fourth quarter. The Nasdaq Composite remained relatively flat and so did the Invesco QQQ Trust Series 1 QQQ.

Another major stake sale was done in Amazon.com, Inc. AMZN with the fund selling over 119,000 shares of the retail giant during the quarter. Amazon shares lost over 25% during the quarter. However, the stock is up over 17% since the beginning of January.

The fund also sold significant stakes in Apple Inc AAPL and Microsoft Corp MSFT during the quarter, having sold over 339,000 shares of the iPhone maker and over 196,000 shares of the software giant. Apple lost nearly 6% in the quarter, while Microsoft gained 3%.

Top Buys: Some of the major stake additions of the fund during the quarter include JPMorgan Chase & Co JPM and Simon Property Group Inc SPG.

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