California Pension Fund Invests Heavily in Salesforce

California State Teachers Retirement System made a significant investment in Salesforce Inc. (NYSE:CRM) during the second quarter, purchasing an additional 186,677,290 shares of the company's stock.

This acquisition brought their total holdings to 188,085,056 shares, representing approximately 22.97% of Salesforce's outstanding stock.

The total value of these holdings is estimated to be around $29.5 billion, according to the latest filing with the Securities and Exchange Commission (SEC).

This move comes as no surprise, given Salesforce's strong financial performance in recent years, including a 10.8% increase in revenue during the second quarter compared to the same period last year.