SpaceX's investment surged to about $2 billion, and California's pension fund faces concentrated holding risks

According to Bloomberg, the Orange County Employees Retirement System invested $60 million in SpaceX about eight years ago, and now that investment has grown to approximately $2 billion.

Although the significant appreciation of the investment has brought considerable returns to the pension fund, it has also resulted in a concentration of assets that is significantly higher than expected. As a result, the fund needs to reassess and adjust its risk management and portfolio strategy to address the long-term management challenges posed by the high proportion of a single high-volatility asset.