Big Pension Sells Apple, Block, and Estée Lauder Stock. Here’s What It Bought.

A big Dutch pension recently disclosed material changes in some of its largest U.S.-traded investments.

Pensioenfonds PNO Media sold positions in

Apple

(ticker: AAPL),

Block

(

SQ

), and

Estée Lauder

(EL), and initiated a stake in

Marsh & McLennan

(MMC) in the third quarter. PNO disclosed the stock trades, among others, in a form it filed with the Securities and Exchange Commission.