The largest pension fund in the US sells Apple, buys Meta, AMD, and McDonald's

Apple hit again! The largest pension fund in the U.S. significantly reduced its holdings in Apple in the first quarter!

According to documents submitted to the U.S. Securities and Exchange Commission (SEC) by the largest pension fund in the U.S. - the California Public Employees' Retirement System, it significantly sold off 5.1 million shares of Apple stock in the first quarter, reducing its holdings to 34.7 million shares.

The California pension fund manages over $540 billion in assets, and its move to sell Apple stock in the first quarter may indicate a decline in confidence among large institutional investors in Apple, further intensifying market concerns about Apple's prospects.

Affected by tariffs, tech giant Apple performed poorly in the first quarter, with a cumulative decline of 11%. The situation became even more severe in the second quarter, with Apple’s stock price dropping another 12%.

Trump's recent criticism of Apple building factories overseas may further exacerbate investor concerns. As previously mentioned by Wall Street Insight, earlier this month, Trump stated that he had "a bit of a problem" with "Apple building factories in India instead of the U.S." On May 23, Trump threatened to impose a 25% tariff on iPhones imported from overseas factories, which further pressured Apple's stock price.

Buying Meta, AMD, and McDonald's

While reducing its holdings in Apple, the California pension fund increased its holdings in Meta by 579,150 shares, bringing its total holdings to 5.5 million shares.

Although Meta's stock slightly declined by 1.6% in the first quarter, it has risen by 8.8% so far in the second quarter.

Notably, Meta stated this month that it is working to address the "widespread fraud" on its platform, indicating that the company is actively responding to regulatory pressures to maintain user experience.

In the first quarter, the California pension fund also increased its holdings in AMD by 325,180 shares, bringing its total holdings to 3.3 million shares. Despite AMD's stock falling by 15% in the first quarter, it has rebounded by 7.4% since the end of March.

On May 14, AMD announced an expansion of its stock repurchase program and reached an agreement to establish a network of artificial intelligence computing centers in Saudi Arabia, showing that its strategic layout in the AI computing field is accelerating.

The California pension fund also purchased 494,290 shares of McDonald's stock in the first quarter, increasing its holdings to 3.5 million shares. McDonald's stock rose by 7.8% in the first quarter, and has remained relatively stable so far in the second quarter, indicating stability during market fluctuations.

The fast-food chain reported mixed results for the first quarter on May 1, with U.S. foot traffic declining compared to the same period last year. However, promotions related to the "Minecraft movie" have boosted sales in the current quarter