A Big Fund Scooped Up AT&T, Gilead, and Qualcomm Stock. Here’s What It Sold.

A giant pension made big investment changes in the second quarter.

The State of Michigan Retirement Systems increased investments in AT&T (ticker: T), Gilead Sciences (GILD), and Qualcomm (QCOM), and slashed its stake in Verizon Communications (VZ) in the second quarter. The pension disclosed the trades, among others, in a form it filed with the Securities and Exchange Commission.

Michigan’s…

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