Giant Pension Exited Alibaba and Bought Coinbase, Lucid, and Rivian Stock

GENLI.ORG

Late in 2021, New Jersey’s state pension bought up newly public stocks that have plunged so far in 2022, and sold out of a high-profile Chinese tech company.

State of New Jersey Common Pension Fund D, the pension’s largest fund by assets, initiated investments in cryptocurrency exchange Coinbase Global (ticker: COIN), and electric-vehicle makers Lucid Group (LCID) and Rivian Automotive (RIVN), while exiting Chinese internet giant Alibaba Group Holding (BABA) in the fourth quarter. The fund disclosed the stock trades, among…

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