According to the materials of the site - By Cryptopolitan_News
Ohio's largest pension fund is diving deeper into highly volatile technologies, gradually moving away from ride-hailing services.
According to documents filed with the Securities and Exchange Commission, OPERS (short for Ohio Public Employees Retirement System) increased its stake in Palantir Technologies and MicroStrategy in the second quarter of 2025, while simultaneously reducing its stake in Lyft.
As of December 31, 2024, OPERS' total assets amounted to $155.6 billion, making it the 14th largest state pension fund in the U.S.
OPERS is betting on Palantir and Strategy, exiting Lyft.
Palantir Technologies led this process. In the second quarter, OPERS acquired an additional 171,441 shares of the company, bringing the total number of shares to 908,712. This occurred against the backdrop of Palantir's stock rising by 80% in the first half of 2025, outpacing the broader S&P 500 index, which added 5.5%. The growth did not stop: in the third quarter, shares rose by 13%, while the S&P showed modest growth of 1.5%.
Palantir's growth began after the company was included in the S&P 500 in September, pushing index-tracking funds to automatically buy shares. The company also continued to demonstrate high profitability, and last Thursday its shares reached an all-time high of $155.68.
MicroStrategy, which now calls itself Strategy for the love of Bitcoin, became another major purchase. OPERS added 21,499 shares to its portfolio, increasing its stake to 101,880 shares by the end of June. Strategy is exclusively betting on Bitcoin. The company has become the largest corporate holder of the OG cryptocurrency and sold preferred shares worth over $3 billion to buy even more. The interest rate on these shares reaches 11.5%, which has raised eyebrows.
"Investors are questioning whether the yield is sufficient compensation, especially in the absence of a reliable source of cash flow for paying dividends," stated Barron’s, which expressed these concerns in a recent note. Strategy disagrees, noting that its assets in Bitcoin are worth much more than its debt. Meanwhile, its shares rose 40% in the first half of 2025, and in the third quarter, they increased further by 4.7%. Meanwhile, OPERS backed away from Lyft, selling 58,881 shares and reducing its total stake to 166,628 shares, despite Lyft's shares rising by 22% in the first half of the year. However, since July, Lyft's shares have begun to lose ground, falling by 6.3% in the third quarter.
The February earnings report turned out to be ambiguous, and although the May first-quarter report contained a more extensive stock buyback plan, it was not enough to convince OPERS to stay. In June, TD Cowen upgraded the stock rating from "Hold" to "Buy," stating that competition from self-driving cars could help. OPERS was apparently not sold.
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