In the fourth quarter of 2022, Calpers, the largest pension in the United States, made a significant investment in Tesla by purchasing 675,683 additional shares worth approximately $131 million at Friday’s closing price. The California Public Employees’ Retirement System manages around $460 billion in assets and had previously disclosed its share transactions in a form filed with the Securities and Exchange Commission, according to Barron’s.
This investment in Tesla proved to be a wise choice as the company has seen growth in 2023 after experiencing a 65% decrease in 2022. Strong financial and operational results in the fourth quarter and all of last year, along with successful demand growth stimulation at the start of the year, have contributed to Tesla’s success while maintaining industry-leading margins.
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It’s worth noting that the exact purchase price of the Tesla shares is not disclosed. However, based on the fluctuation of the share price in Q4 2022, which ranged from $242 to $123, an estimate can be made by taking the average price of around $183. This would put the estimated purchase price at $123,649,989.
In addition to Tesla, Calpers also invested in Apple, Disney, and bought up shares in these companies, while selling a fifth of its stake in Walmart. As of the end of last year, the pension owned a total of 6.4 million shares in Tesla.
