Calpers cuts Magnificent Seven stock holdings by 26%, CoinDesk reports
CIE News ·
Based on reporting by CoinDesk; not yet independently confirmed.
Calpers cut its direct Magnificent Seven tech shares by 26% in the first half of 2026, according to CoinDesk. The fund is rotating capital to private equity due to high public valuations.
Calpers reduced its directly held shares in the Magnificent Seven technology companies by 26% during the first half of 2026, CoinDesk reported based on regulatory filings. The pension fund, which manages more than $600 billion, is trimming holdings in Apple (AAPL), Microsoft (MSFT), Alphabet (GOOG), Amazon (AMZN), Nvidia (NVDA), Meta Platforms (META), and Tesla (TSLA) to boost allocations to private equity. Deputy chief investment officer Anton Orlich stated that public equity valuations appeared expensive and noted the tech firms could underperform relative to other opportunities.
Key facts
- 26% reduction in shares
- First half of 2026
- Manages over $600 billion
- Shift toward private equity