Largest U.S. Pension Bought AMC, GameStop, and Berkshire Hathaway Stock. -- Barrons.com

The largest public pension in America recently loaded up on some volatile stocks, invested more in Warren Buffett's firm, and trimmed a position in a slipping software stock.

In the fourth quarter, California Public Employees' Retirement System more than quadrupled investments in AMC Entertainment Holdings (ticker: AMC) and GameStop (GME), two high-profile "meme stocks," and dramatically lifted its holdings in Berkshire Hathaway ( BRKb), Buffett's investment firm, and probably the polar opposite of a meme stock. Calpers, as the pension is known, also sliced off nearly 11% from its stake in Palantir Technologies (PLTR), a provider of data-analytics software. The pension disclosed the trades, among others, in a form it filed with the Securities and Exchange Commission.Calpers declined to comment on the investment changes. It manages $480 billion in assets, more than any other public pension in the U.S.

Calpers bought 1.7 million more class B Berkshire Hathaway shares to end the fourth quarter with 5.6 million shares.

Berkshire Hathaway stock is a Barron's pick for 2022, and so far this year, class B shares (the more-affordable ones) are up 5.3%, following a 29% surge in 2021. We like that Berkshire Hathaway has ramped up its stock buybacks, and the company could repurchase more than 4% of its shares in 2022." Last week, Berkshire Hathaway disclosed that it purchased a large stake in Activision Blizzard (ATVI) ahead of Microsoft's ( MSFT) offer to buy the company.

HTTP://www.barrons.com/articles/amc-stock-gamestop-berkshire-hathaway-palantir-51645118789