Lehman and Pensions
Thanks to our good friends at Knowledge Mosaic, a search of SEC filings suggests that at least several pension plans may still own stock in Lehman Brothers. While we do not have evidence that holdings were sold before Lehman filed for Chapter 11 protection, there is certainly that possibility. Numbers shown below may not reflect actual exposure as of the bankruptcy filing date and do not reflect a value at which stocks can be traded. Note that ASP refers to Average Share Price. Share counts are estimates only.
- Teacher Retirement System of Texas with 1.062 million shares and a $37.64 ASP
- NY State Common Retirement Fund with 4.195 million shares and a $19.81 ASP
- State Treasurer State of Michigan with 0.751 million shares and a $19.81 ASP
- Texas Permanent Schools Fund with 0.516 million shares and a $19.81 ASP
- NY State Teachers Retirement System with 2.141 million shars and a $19.81 ASP
- California Public Employees Retirement System with 1.786 million shares and a $19.81 ASP
- Public Employees Retirement System of Ohio with 0.89 million shares and a $19.81 ASP
- California State Teachers Retirement System with 0.940 million shares and a $19.81 ASP
In all cases cited above, the equity exposure to Lehman Brothers Holdings Inc. is reported as representing less than a fraction of one percent of respective plan assets.
For an article on the giant Texas pension plan, click on "TRS takes a hit on Lehman Brother's stock holdings" by Robert Elder, September 16, 2008, Austin American-Statesman.
