The Mormon Church's $52 billion stock fund bought Tesla and trimmed legacy automakers Ford and General Motors last quarter
- The Church of Jesus Christ of Latter-day Saints' added Tesla stock and trimmed legacy automakers like Ford and General Motors last quarter.
- Ensign Peak Advisors is the equity arm of the Church and holds $52 billion in US stocks.
- These are the top changes the investment fund made in the fourth quarter, according to its 13F.
The Church of Jesus Christ of Latter-day Saints' $52 billion investment fund trimmed its stake in legacy automakers like Ford and General Motors while continuing to add to its Tesla position last quarter, according to its latest quarterly 13F filing.
Ensign Peak Advisors is the equity arm of the Church's investment fund and owned about $52 billion worth of stocks as of December 31. The fund saw its assets jump about $4 billion since the third quarter of 2021, and initiated more than 400 new positions in the fourth quarter.
The more than 50-year old fund has relied on donations from its over 16 million members to build up its investment portfolio, which totals more than $100 billion when including its timberland and hedge fund holdings, according to The Wall Street Journal.
The portfolio owns thousands of stocks, and its top holdings show little difference from the S&P 500, with Apple, Microsoft, Alphabet, and Amazon among its largest positions. But the fund is active, with stocks in the tobacco and alcohol sectors excluded from the portfolio.
Some of the stocks owned by the Church, aside from Tesla, are also held by Cathie Wood's Ark Invest. Ensign Peak Advisors added more shares to its Zoom Video stake, initiated a new stake in Ginkgo Bioworks, and partially reduced its stake in Teladoc.
These are the top changes Ensign Peak Advisors made in the fourth quarter, according to its 13F filing made with the SEC.
1. Added to Tesla
Market Value: $755.6 million
Change in Shares: +118,380 (+19%)
Estimated Average Price Paid: $715.21
2. Trimmed Ford
Market Value: $105.2 million
Change in Shares: -7.9 million (-60%)
Estimated Average Price Paid: $11.78
3. Trimmed General Motors
Market Value: $177.6 million
Change in Shares: -2.5 million (-44%)
Estimated Average Price Paid: $46.21
4. Added Pfizer
Market Value: $395.6 million
Change in Shares: +1.8 million (+20%)
Estimated Average Price Paid: $42.34
5. Added Procter & Gamble
Market Value: $392.3 million
Change in Shares: +586,360 (+32%)
Estimated Average Price Paid: $134.64
6. Trimmed AT&T
Market Value: $64.2 million
Change in Shares: -9.9 million (-79%)
Estimated Average Price Paid: $31.18
7. Bought Ginkgo Bioworks
Market Value: $31.1 million
Change in Shares: New Position
Estimated Average Price Paid: $8.38
