Tesla mega

-- Gary Black has typically been a vocal supporter of Tesla (NASDAQ:),How to trade foreign exchange account opening process but a recent filing has revealed that the Chicago-based portfolio manager has cut his fund's position in the electric vehicle (EV) giant.

Who is Gary Black?

Black, a former Aegon (NYSE:) Asset Management chief executive, opened The Future Fund LLC in 2021. It oversees two vehicles with a total of $8.8 million under management, a profile by financial services group Morningstar showed.

Tesla has long been one of the fund's biggest holdings. However, according to a fourth-quarter Securities and Exchange Commission filing dated on Feb. 14, The Future Fund slashed its stake in Tesla by 1% versus the prior three-month period to 104,450 shares. As of Dec. 31, the position was valued at just under $26 million.

Black defended the move in a series of posts on social media platform X last week, saying that Wall Street estimates for Tesla deliveries in the first quarter and in 2024 are "way above where they are likely to come in."