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Alaska’s Department of Revenue materially increased investments in Gilead Sciences and Eli Lilly stock in the third quarter.
David Paul Morris/Bloomberg
Alaska’s Department of Revenue made big changes in some of its biggest holdings in U.S.-traded equities.
The state agency, which is charged with collecting and investing funds for public purposes, materially increased investments in
Gilead Sciences
(ticker: GILD) and
Eli Lilly
(LLY), two companies working on treatments for Covid-19, in the third quarter. The Department of Revenue also bought more
Wells Fargo
(WFC) stock and cut holdings in
Bank of America
(BAC). The Alaskan agency disclosed the trades, among others, in a form it filed with the Securities and Exchange Commission.
Alaska’s Department of Revenue, which managed $8.1 billion in U.S.-traded equities as of Sept. 30, didn’t respond to a request for comment on its stock transactions.
The agency bought 253,419 more Gilead shares in the third