Second-Largest U.S. Pension Doubled Down on Rivian and Noble Stock

America’s second-largest public pension by assets recently increased its investments in some of the market’s more volatile stocks.

The California State Teachers’ Retirement System doubled its stakes in electric-truck maker


Rivian Automotive


(ticker: RIVN) and offshore energy driller


Noble


(NE) in the third quarter. It also bought more shares of the cloud software company


Snowflake


(SNOW) and short-term-stay firm


Airbnb


(ABNB).