Giant Pension Drops Nikola and Workhorse Stock. It Bought Palantir and Snowflake.
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New Jersey’s state pension recently made major changes in its U.S.-traded stock investments, shifting from one hot area of the market to another.
State of New Jersey Common Pension Fund D, the pension’s largest fund by assets, exited smaller investments in the embattled electric-vehicle companies Nikola (ticker: NKLA) and Workhorse Group (WKHS), and added to positions in data-analytics-software firms Palantir Technologies (PLNT) and Snowflake (SNOW) in the third quarter. The pension disclosed the stock trades, among others,...