Pension Pulse

Fiona Craig of Investor Hub reports hedge funds scale back chip holdings after massive AI-driven surge:  Hedge funds have been trimming positions in U.S. semiconductor companies following the sector’s outsized gains, choosing to secure profits while still maintaining strong exposure to artificial intelligence investments, according to Goldman Sachs data referenced by Bloomberg on Thursday. Information from Goldman’s prime brokerage unit reportedly indicated that semiconductor and semiconductor equipment stocks were the most heavily net-sold U.S. subsector over the past month. The activity was driven primarily by investors reducing long exposure rather than building significant short positions against chipmakers . That shift has pushed the sector into a net-selling position for the year to date. The profit-taking follows a steep rally across AI-linked chip stocks. Goldman Sachs’ AI semiconductor basket has outperformed the S&P 500 by more than 50% in 2026...

The Canadian Press reports  CPP Investments earned 7.8% for fiscal 2026, net assets total $793.3 billion:  The Canada Pension Plan Investment Board has reported a return of 7.8 per cent for its 2026 fiscal year. The results helped increase its net assets to $793.3 billion at March 31, up from $714.4 billion at the end of its 2025 fiscal year. It says the increase for the year included $56.9 billion in net income and $22.0 billion in net transfers from the Canada Pension Plan.CPP Investments chief executive John Graham says the results reflected the strength of its diversified portfolio and the reach of its global investment platform. The returns were helped by its holdings in public equities, while its real assets, particularly energy and infrastructure assets, also contributed to the gains. The results for the year by CPP Investments fell short of its benchmark portfolio which returned 13.2 per cent for the same period, as it was boosted by relatively heavier expo...