ExOne Co (XONE), MannKind Corporation (MNKD): Here’s What This $30 Billion Pension Fund Has Been Buying

CalSTRS reduced its stake in lots of companies, including Fusion-IO, Inc. (NYSE:FIO), an enterprise storage company focused on technologies such as flash memory and solid-state drives. The company posted strong earnings in its third quarter, and an upbeat outlook, sending its shares soaring — but then they plunged a few weeks later, when top customers reportedly reduced spending, and the CEO and CMO, both cofounders of the company, abruptly departed. RBC Capital analyst Amit Daryanani recently reduced his price targets for the stock, seeing a slower-than-expected rebound for the firm, as well as increasing competition. Others, though, see the stock, down 20% over the past year, as overly punished, and growing at a good clip.

Finally, CalSTRS’s biggest closed positions included Watson Pharmaceuticals (which essentially just renamed itself Actavis Inc (NYSE:ACT)), and Ralcorp Holdings, Inc. (NYSE:RAH), which was bought by ConAgra Foods, Inc. (NYSE:CAG).

We should never blindly copy any investor’s moves, no matter how talented the investor. But it can be useful to keep an eye on what smart folks are doing. Therefore, 13-F forms can be great places to find intriguing candidates for our portfolios.

The article Here’s What This $30 Billion Pension Fund Has Been Buying originally appeared on Fool.com.

Longtime Fool contributor Selena Maranjian, whom you can follow on Twitter, holds no position in any stocks mentioned. The Motley Fool recommends ExOne.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.