Tesla, Apple, Amazon Stakes Upped By Utah Retirement Systems During Q1

Utah Retirement Systems, which administers pension plans and retirement savings plans for public employees in Utah, has upped its stake in big tech names during the first quarter of 2023, according to its latest 13F filing posted on the Securities and Exchange Commission.

The filing shows that the fund has increased its position in Apple Inc (NASDAQ:AAPL), Tesla Inc (NASDAQ:TSLA), Microsoft Corp (NASDAQ:MSFT) and Amazon.com, Inc. (NASDAQ:AMZN) during Q1.

Also Read: Everything You Need To Know About Tesla Stock

Apple remains its top pick for the quarter, according to whalewisdom.com. The fund bought over 7,600 shares of the iPhone maker during the period and currently holds over 2.67 million shares of the tech giant. It also raised bought 4,800 shares of Amazon and 3,800 shares of Microsoft during the quarter.

Price Action: Shares of these mega-cap companies have registered mixed gains over last month which saw a barrage of developments including the quarterly earnings release, the Federal Reserve's policy announcement, inflation concerns and the debt ceiling crisis. While retail giant Amazon's shares have registered over 10% gains during the period, Tesla's stock has logged over 10% losses. At the same time, Microsoft shares have risen over 7% while Apple shares are up just over 4% in the period, according to Benzinga Pro.

According to whalewisdom.com, Utah Retirement Systems has trimmed positions in Equity Residential (NYSE:EQR) and Home Depot Inc (NYSE:HD) during the first quarter.

Top Holdings: Apple, Microsoft, Amazon and NVIDIA Corporation (NASDAQ:NVDA) are among the top holdings of the fund as of the end of the first quarter, according to whalewisdom.com.

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