Calpers Cut Its Combined Share Count in Seven Tech Giants by 26%

Calpers, the largest U.S. public pension fund, cut its combined direct share count in seven major technology companies by 26% in the first half of 2026, reducing concentration in public stocks. Its holdings in Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta and Tesla fell in aggregate as the fund spread stock investments across hundreds of companies. Calpers also increased its private-equity exposure. The change puts figures behind the fund’s earlier decision to exit large technology stocks as artificial intelligence enthusiasm cools.

Source: TokenPost