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
(ticker: GILD) and
(LLY), two companies working on treatments for Covid-19, in the third quarter. The Department of Revenue also bought more
(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