There are at least 26 public pension funds (managing money for ~80 pension plans) who directly held stock in SVB Financial Group (#SIVB), the parent of Silicon Valley Bank.
A short 🧵👇🤦🏻♂️
A short 🧵👇🤦🏻♂️
It is likely there are many more pension funds who own a small amount of stock in #SVB through an asset management firm. These are just the pension funds who reported direct investments in the bank.
Pension funds are also going to be exposed to potential stock losses in companies that have substantial banking at #SVB, like Roku and Etsy.
Plus, valuation mark downs for private companies that suffer because of the bank failure will trickle down to state pension funds too.
Plus, valuation mark downs for private companies that suffer because of the bank failure will trickle down to state pension funds too.
But there is a transparency problem. State pension funds are not great at publishing their entire holdings for taxpayers, retirees, or plan members to see.
We are digging tho. Tomorrow we’ll publish a broader list of the pension funds exposure toto SVB. Follow for updates.
We are digging tho. Tomorrow we’ll publish a broader list of the pension funds exposure toto SVB. Follow for updates.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
