Canada’s Largest Pension Slashes Bets on Electric Vehicles, Sells Apple Stock

Canada’s largest pension fund by assets under management recently made striking changes in its investments in

Apple

and four prominent electric-vehicle makers.

Canada Pension Plan cut its stake in Apple stock (ticker: AAPL), nearly halved an investment in

Tesla

(TSLA), and nearly wiped out holdings in Chinese EV makers

NIO

(NIO),

XPeng

(XPEV), and

Li Auto

(LI) in the third quarter. Canada Pension Plan Investment Board, known as CPP Investments, which manages the pension, disclosed the stock trades, among others, in a form it filed with the Securities and Exchange Commission.