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Minnesota Has $19M Invested In Firearms Manufacturers


WATCHED STATION, THIS IS WCCO 4 NEWS. THANK YOU FOR JOINING US. A BIPARTISAN GROUP OF MINNESOTA LAWMAKERS IS PROPOSING TOUGH NEW GUN CONTROL MEASURES AFTER THE DEADLY FLORIDA HIGH SCHOOL SHOOTING. THE BILL REQUIRES UNIVERSAL BACKGROUND CHECKS FOR GUN TRANSFERS AND MANDATORY REPORTING FOR MISSING WEAPONS. IT COMES DAYS AFTER HUNDREDS OF MINNESOTA STUDENTS MARCHED ON THE STATE CAPITOL CALLING FOR STRONGER CONTROL LAWS. AND THIS EVENING FOR THE FIRST TIME WE’VE LEARNED HOW MUCH MONEY THE STATE OF MINNESOTA INVESTS IN GUN COMPANIES. PAT KESSLER IS AT THE CAPITOL. PAT, WHAT DID YOU FIND? Reporter: IT’S PRETTY INTERESTING TO LOOK AT. MINNESOTA HAS MILLIONS OF DOLLARS IN PENSION FUND INVESTMENTS IN GUN COMPANIES AROUND THE WORLD. UNLIKE OTHER STATES, IT MAY FACE SOME SCRUTINY FOR MAKING MONEY OFF FIREARMS. STUDENTS MARCHING ON THE CAPITOL CALLED ON REPUBLICANS AND DEMOCRATS TO WORK TOGETHER. [ TOGETHER.CHANT. Reporter: THAT’S WHY A BIPARTISAN SET OF SENATORS SAY THEY ARE PROPOSING UNIVERSAL BACKGROUND CHECKS AND MANDATORY REPORT OF MISSING WEAPONS. SOME SAY THIS WON’T STOP THE NEXT SCHOOL SHOOTING, BUT THEY SIMPLY CANNOT KNOW THAT. Reporter: THE MINNESOTA PROTESTS REFLECT A NEW NATIONAL FOCUS ON GUNS, INCLUDING GUN COMPANY STOCKS. AND IT TURNS OUT MINNESOTA HAS SUBSTANTIAL GUN INVESTMENTS. THE STATE’S $76 BILLION PORTFOLIO INCLUDES A SMALL BUT SIGNIFICANT $19 MILLION IN FIREARMS MANUFACTURING COMPANIES. THAT’S ABOUT 2 HUNT% — 0.02% OF THE TOTAL. IT RANGES FROM ALMOST $9 MILLION IN WEAPONS AND AMMO AT ORBITAL ATK TO $300,000 IN AMERICAN OUTDOOR GRANTS. MEANWHILE, THE FLURRIES OF GUN SAFETY BILLS CONTINUES, AND GUNS RIGHTS ACTIVISTS SAY THE BILLS WON’T MAKE A DIFFERENCE IN VIOLENT CRIMES, INCLUDING MASS MURDERS. THE VAST MAJORITY WILL BE FELT BY LAW-ABIDING CITIZENS. Reporter: SO BACK TO MINNESOTA’S $19 MILLION INVESTMENT IN GUN STOCKS. IT’S A LOT OF MONEY, BUT WE SHOULD PUT IT IN SOME CONTEXT HERE. BUT COMPARISON, MINNESOTA’S LARGEST INVESTMENTS ARE WHAT YOU MIGHT EXPECT IN HIGH-TECH COMPANIES LIKE APPLE, MICROSOFT, AND AMAZON. BILLIONS OF DOLLARS THERE. ALMOST $1 BILLION EACH. BUT THERE IS CURRENTLY NO CALL YET AT THE CAPITOL. PEOPLE ARE REALLY THERE HAD TO KNOW THIS. SO FAR NO CALLS FOR DIVESTING OF STOCKS IN FIREARMS. DOES THAT SURPRISE YOU, PAT, CONSIDERING THE CLIMATE RIGHT NOW? Reporter: IT’S VERY INTERESTING TO LOOK AT. PEOPLE HAVE NOT HAD THIS NUMBER UNTIL NOW. THE STATE BOARD OF INVESTMENT HAS ONLY NOW BEGUN TO PUT TOGETHER THESE NUMBERS AFTER THE FLORIDA SHOOTINGS. AND IT IS A LOT OF MONEY, BUT IT’S A PASSIVE INVESTMENT. WHAT THAT MEANS IS THAT THEY DON’T ACTUALLY PICK THE STOCKS. THEY INVEST IN INDEX FUNDS THAT PICK THE STOCKS FOR THEM. ALL OF US MAY HAVE SOMETHING LIKE THIS. THE STATE OF MINNESOTA HAS $19 MILLION. I CAN BET YOU THERE WILL BE

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