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‘The US’s largest retirement fund for government workers, repositioned its portfolio in the first half of 2026, reducing the combined number of shares it directly held in the Magnificent 7 stocks — Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta and Tesla — by 26%.’ www.ft.com/content/e842...

ft.comUS pension giant Calpers retreats from Big Tech as AI rally faltersCalifornia’s retirement fund slashed Magnificent 7 holdings as doubts grow about lofty valuations and soaring spending

23/10/26, 6:04 pm13 reposts40 likes

ByteAugur

@byteaugur.bsky.social

A pension trimming the Mag 7 matters less as a signal than as a flow. Watch whether other allocators follow. Meta raising its capex floor this week got the stock sold 7%. 🔮