The Czech National Bank has significantly increased its investments in U.S.-traded stocks, including Apple, Tesla (NASDAQ:TSLA), AT&T (NYSE:T), and Microsoft (NASDAQ:MSFT) in Q3, according to its latest SEC filing. The bank's U.S.-traded securities portfolio rose from $4.40 billion in June to $6.28 billion by the end of September.
Today, the bank owns 2.6 million Apple shares (NASDAQ:AAPL) after purchasing an additional 818,501 shares. Despite a 27% drop in 2022, Apple's stock rose 32% in the first nine months of 2023 but fell 1.7% in Q4 so far. Analysts' concerns over iPhone demand persist ahead of Apple's October 30 event and its fiscal-fourth-quarter earnings report.
Despite Tesla's disappointing Q3 earnings due to price cuts and ongoing Justice Department probes into various aspects of its operations, the Czech National Bank increased its Tesla shares to 482,573. Tesla's stock saw a significant recovery this year with a 103% increase after a 65% drop in 2022 but is down by 17% in Q4 so far as the company continues to convert other automakers to use its plug standard for charging.
The bank also raised its AT&T shares to 1.2 million despite the company's stock falling 18% in the first three quarters of 2023 following a slight decline in 2022. However, AT&T shares have risen by 1.3% in Q4 so far despite issues with its legacy lead telephone cables. The company reported a strong third quarter and lifted its free-cash-flow forecast.
Finally, the Czech National Bank added more Microsoft shares to its portfolio, totaling now at 1.3 million shares. Microsoft's stock has increased by 32% in the first nine months of this year after a significant drop in 2022 and is up by 4.4% in Q4 so far, possibly boosted by its acquisition of Activision Blizzard (NASDAQ:ATVI), a strong fiscal first quarter, and better-than-expected cloud computing performance.
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