Huge Pension Halves Alibaba Stake. It Sold Altria, Chevron, and Lockheed Stock. - Barron's
1. New York pension halved its Alibaba investment in Q1. 2. Alibaba's ADRs rose 56% in Q1 but fell 5.2% in Q2. 3. Continued U.S.-China trade tensions affect Alibaba's stock performance. 4. Recent stimulus measures and interest rate cuts support Alibaba. 5. The fund's total assets are $273.4 billion.