CPP Investment Board Bought a Lot of Canopy Growth Corp. Stock Last Quarter

In a recent Form 13F-HR filed with the U.S. Securities and Exchange Commission on February 14th, the Toronto, Canada-based global investment management firm that invests the assets of the Canada Pension Plan, the Canada Pension Plan Investment Board, disclosed that it bought a noteworthy stake in international cannabis conglomerate Canopy Growth Corp. (NYSE:CGC) (TSX:WEED) last quarter.

According to The CPP Investment Board’s website, “The CPP Investment Board was established by an Act of Parliament in December 1997,” and mentions that the Canada Pension Plan Investment Board “take [their] responsibility to Canadians very seriously and operate with a clear mandate – to maximize returns without undue risk of loss.”

With an estimated over $420 billion CAD in assets under management as of December 31st, 2019, the Canada Pension Plan Investment Board’s recent purchase of 74,000 shares of Canopy Growth Corp. stock amounts to just a tiny investment for the firm. That being said, pension fund managers like the Canada Pension Plan Investment Board always diversify to minimize risk.

Even though the 74,000 shares may be a small holding for the CPP Investment Board, it was worth approximately $1,619,120 USD as of the close on Friday, February 21st, 2020. And, that’s not their only exposure to Canopy’s performance.

The pension fund’s recent filing also showed 112,998 shares of Constellation Brands Inc. (NYSE:STZ), which has invested billions of dollars into Canopy Growth.

Meanwhile, down in the United States, the Madison, Wisconsin-based state retirement fund manager, the State of Wisconsin Investment Board just recently disclosed that it trimmed down its stake in Canopy Growth Corp. stock.

We’ll continue to monitor 13F filings to see what institutional investors are up to. In the meantime, be sure to subscribe to updates here so you never miss an important update. For Canopy Growth Corp.-specific updates, be sure to subscribe to our Canopy Growth Corp. Updates here so you never miss a thing.