US $100 billion Mormon Church Fund reduces holdings in "Seven Giants" Alphabet-C position cut by 15%

Zhitong
2024.02.15 08:53
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Ensign Peak Advisors, the investment fund of the Church of Jesus Christ of Latter-day Saints in the United States, has submitted its fourth-quarter holdings report as of December 31, 2023. The fund reduced its position in Alphabet-C-C, one of the "Big Seven," by 15% in the fourth quarter. The total market value of Ensign Peak Advisors' investment portfolio is $50.5 billion, with the top ten holdings accounting for 27.58% of the total market value. Microsoft is one of the fund's top five holdings, with a market value of approximately $2.963 billion. Apple ranks second, with a market value of approximately $2.872 billion. Amazon, NVIDIA, and Alphabet-C-C rank third, fourth, and fifth, respectively.

According to the disclosure from the U.S. Securities and Exchange Commission (SEC), Ensign Peak Advisors, the investment fund of The Church of Jesus Christ of Latter-day Saints (Mormon Church), has submitted its fourth-quarter holdings report (13F) as of December 31, 2023. The fund's investment portfolio is reported to exceed $100 billion, including over $50 billion in stock investments.

The data shows that Ensign Peak Advisors' total market value of holdings in the fourth quarter was $50.5 billion, compared to $46.8 billion in the previous quarter, representing an 8% increase on a quarter-on-quarter basis. The company added 23 new stocks to its portfolio in the fourth quarter, increased holdings in 1,011 stocks, reduced holdings in 374 stocks, and completely divested from 40 stocks. The top ten holdings accounted for 27.58% of the total market value.

Among the top five major holdings, Microsoft (MSFT.US) ranked first with a holding of 7.8783 million shares, with a market value of approximately $2.963 billion, accounting for 5.86% of the investment portfolio, a decrease of 0.72% compared to the previous quarter.

Apple (AAPL.US) ranked second with a holding of 14.9166 million shares, with a market value of approximately $2.872 billion, accounting for 5.69% of the investment portfolio, a decrease of 4.61% compared to the previous quarter.

Amazon (AMZN.US) ranked third with a holding of 9.2397 million shares, with a market value of approximately $1.404 billion, accounting for 2.78% of the investment portfolio, a decrease of 3.35% compared to the previous quarter.

NVIDIA (NVDA.US) and Alphabet (GOOGL.US) ranked fourth and fifth, with market values of $1.31 billion and $1.212 billion, respectively, representing a decrease in holdings of 5.51% and 14.66% compared to the previous quarter.

It is worth noting that the "Big Seven" of the U.S. stock market, including Apple, Microsoft, Alphabet, Amazon, NVIDIA, Meta (META.US), and Tesla (TSLA.US), are all among the top ten major holdings of this fund, but all of these stocks have been reduced.

In addition, Ensign Peak Advisors also established positions in the fourth quarter in Robinhood (HOOD.US), and Archer Aviation (ACHR.US), a flying taxi company, while liquidating positions in Fisker (FSR.US), Activision Blizzard (ATVI.US), and the Nasdaq 100 ETF (QQQ.US).

In terms of changes in portfolio allocation, the top five purchases were Crown Castle International (CCI.US), AMD (AMD.US), Charles Schwab (SCHW.US), Estée Lauder (EL.US), and Thermo Fisher Scientific (TMO.US).

The top five sales included Walmart (WMT.US), ExxonMobil (XOM.US), Alphabet, UnitedHealth Group (UNH.US), and Johnson & Johnson (JNJ.US).

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