Shares in Apple, Meta and Exxon were increased by Putnam Investments in the first quarter, while…

Shares in Apple, Meta and Exxon were increased by Putnam Investments in the first quarter, while…

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Putnam InvestmentsThe company, which had $169 billion in assets under management in April, streamlined its technology portfolio and increased its holdings in a major energy company in the first quarter.

What happened: According to its 13F filings with the SEC, Putnam Investments has increased its stake in apple inc AAPL And Meta Platforms Inc META during the quarter. According to it, Meta shares have nearly doubled this year, while Apple stock is up over 39% Gasoline Pro.

Also read: Everything you need to know about Apple stocks

In addition, Putnam Investments increased its stake in Exxon Mobil Corp XOM purchased over 2.39 million shares in the first quarter. This move coincided with Exxon’s reporting Record result in the first quarter of $11.4 billion. However, Exxon’s stock has underperformed this year, posting a 1.45% year-to-date loss.

On the other hand, Putnam Investments reduced its holdings in microsoft corp MSFT through the sale of over 1.12 million shares. Microsoft shares have posted significant gains this year, up over 34% year-to-date.

During the quarter, Putnam also reduced its stake in the chipmaker NVIDIA Corporation NVDA through the sale of over 172,000 shares. Despite chip stocks’ powerful rally in 2023, which has seen NVIDIA gain over 117% year-to-date an AI computing wave, Putnam decided to reduce his position. The investment firm also reduced its stake in the retail giant Walmart Inc WMT.

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