Investment firm 1248 Management increased Tesla holdings by 16,443 shares, valued at $4.94 million, now totaling 18,754 shares worth $5.96 million as of June 30. Tesla now makes up 2.2% of the fund’s assets, up from 0.26% in Q1.

Tesla stock saw a significant increase in holding by 1248 Management, moving from underweight to slightly overweight position in the S&P 500 index. Tesla’s potential in the robotaxi and FSD software market presents both risks and rewards for investors.

Top holdings for 1248 Management include Palmer Square Capital BDC, Amazon, Alphabet, Microsoft, and JPMorgan Chase. Tesla shares are trading at $335.16, up 50.5% in the past year, with a forward P/E of 135.87 and a 5-year revenue CAGR of 31.8%.

Read more at Nasdaq: 1248 Management Ramps Up Its Position in Tesla