In a recent Form 13F-HR filed with the U.S. Securities and Exchange Commission, Madison, Wisconsin-based state retirement fund manager, the State of Wisconsin Investment Board disclosed that it trimmed a stake in cannabis mega-company Canopy Growth.
As you just read that the State of Wisconsin Investment Board, commonly abbreviated as SWIB, trimmed its position in Canopy stock, you’re probably shocked that they’re even investing some of the State of Wisconsin’s retirement fund in cannabis companies.
According to Bloomberg, “State of Wisconsin Investment Board operates as a state agency. The [State of Wisconsin Investment Board] invests the assets of the Wisconsin retirement system, the state investment fund, and other trust funds.”
With over $39 billion in managed 13F securities as of a recent filing and more than $128 billion in total assets under management as of the end of 2019, the State of Wisconsin Investment Board’s recent sale of 9600 shares of Canopy Growth Corp stock amounts to just a tiny trade for the firm.
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