California Teachers Retirement System Cuts Apple Holdings Amid Institutional Buying
California's State Teachers Retirement System has significantly reduced its stock holdings in Apple Inc. (AAPL) by 3.1% in the first quarter, according to a recent SEC filing. The fund now owns approximately 22,272,610 shares of Apple's stock, which accounts for about 6.0% of its total holdings and makes it the second-largest position.
The sale of 708,401 shares is valued at around $5,652,566,000, representing about 0.15% of Apple's outstanding shares. This reduction in stake may be a strategic decision by the fund to rebalance its portfolio or adjust to changing market conditions.
Other large investors have also made changes to their positions in Apple during the same period. For instance, First National Bank of Hutchinson increased its holdings by 24.6% in the fourth quarter, Eagle Capital Management LLC grew its stake by 0.5%, and Brighton Jones LLC boosted its position by 14.8%. These transactions suggest that institutional investors remain bullish on Apple's prospects.