The Alaska Department of Revenue, which has $7.7 billion in public fund investments, sold off some of its key holdings at the end of 2019, including shares in Berkshire Hathaway, Apple, Verizon, and Broadcom, according to Barron’s, a financial publication..
“The Alaska Department of Revenue, which collects and invests public funds, cut back on holdings in some of America’s largest companies. It sold class B shares of Berkshire Hathaway (ticker: BRKb), Apple (AAPL), Verizon Communications (VZ), and Broadcom (AVGO) in the fourth quarter. Notably, three are lagging behind the 1.1% gain in the S&P 500 so far in January through Friday’s close. The department disclosed the changes in a form it filed with the Securities and Exchange Commission,” Barron’s reported.
Like a farmer selling/eating his “seed corn”.
What’s the point of this revelation?
Idiots, but then again we don’t have the other side of the story either.
I have three of those, and I wouldn’t consider selling them right now. As NAV said though, we don’t have the whole story.
Sold Apple. Might as well cash in your IT. World is ending.
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