Goldman Sachs Stake Shifts: Michigan Sells $68.47M, Canada Post Buys 28%
State of Michigan Retirement System trimmed its Goldman Sachs stake by 1.8%, selling 1,600 shares to hold 85,973 shares valued at $68.47 million. Canada Post’s registered pension plan boosted its GS position by 28.2% to 7,369 shares, with Goldman Sachs signaling a grim shift in the software sector.
1. Software Sector Caution
Goldman Sachs analysts signaled a grim shift in the software sector outlook, forecasting slower revenue growth and advising clients to scale back exposure as key software indices have rebounded strongly in recent sessions.
2. Michigan Retirement System Sells GS Shares
The State of Michigan Retirement System reduced its Goldman Sachs holding by 1.8%, selling 1,600 shares during the quarter. The fund now holds 85,973 shares valued at approximately $68.47 million.
3. Canada Post Pension Plan Increases Stake
Canada Post Corp Registered Pension Plan expanded its GS position by 28.2%, acquiring an additional 7,369 shares. This boost reflects bullish sentiment on GS’s long-term outlook despite broader sector caution.