Here are the top ten picks for the Mormon church's $55 billion stock portfolio

Mormon Church

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  • The investment arm of the Mormon church disclosed some of its assets in a 13F filing on Wednesday.

  • The church has built a portfolio of individual stocks worth $55 billion.

  • These are the top 10 holdings in the church's stock portfolio as of March 31.

The Church of Jesus Christ of Latter-day Saints has an investment portfolio of more than $100 billion, including $55 billion in publicly traded equities.

The portfolio is registered with the Securities and Exchange Commission as Ensign Peak Advisors, and its ties with the church were largely unknown until a few years ago.

The portfolio was not revealed to the public until 2019, when a former Ensign Peak employee filed a whistleblower complaint, alleging that the fund should not have a tax exemption because it does not engage in charitable activities.

Last year, the whistleblower said in a “60 Minutes” special about the church's investment arm functioned as a 'clandestine hedge fund' disguised as a charity.

The church, commonly known as the Mormon Church, reports its stock holdings on a quarterly basis, and a recent 13F filing revealed its top holdings as of March 31. During the quarter, the fund expanded its mega-cap technology holdings, benefiting from a stock market that reached record highs.

Here are Church's top 10 stock holdings at the end of the fourth quarter, as well as the changes in each position.

10. Eli Lilly

eli lilly drug manufacturereli lilly drug manufacturer

Vincent Kessler/Reuters

ticker: LLY
Market value: $721.4 million
Change in shares: +221,327 (+31%)

9. JPMorgan

A black and white silhouette of people with the JPMorgan logoA black and white silhouette of people with the JPMorgan logo

JPMorgan will pay a $75 million settlement to the U.S. Virgin Islands following allegations that it facilitated Jeffrey Epstein's sex trafficking.AP Photo/Seth Wenig

ticker: JPM
Market value: $771.7 million
Change in shares: -231,976 (-6%)

8. UnitedHealth Group

This October 14, 2019 photo shows a UnitedHealth Group health insurance card in a wallet.  REUTERS/Lucy Nicholson/IllustrationThis October 14, 2019 photo shows a UnitedHealth Group health insurance card in a wallet.  REUTERS/Lucy Nicholson/Illustration

This October 14, 2019 photo shows a UnitedHealth Group health insurance card in a wallet. REUTERS/Lucy Nicholson/Illustration

Image of a UnitedHealth Group health insurance card in a walletReuters

ticker: UNH
Market value: $811.3 million
Change in shares: -46,678 (-3%)

7. Mastercard

MasterCardMasterCard

Reuters

ticker: MA
Market value: $900.5 million
Change in shares: +15,727 (+1%)

6. Metaplatforms

MetaMeta

Getty Images

ticker: META
Market value: $1.63 billion
Change in shares: +130,061 (+4%)

5. Amazon

AmazonAmazon

Amazon

Getty

ticker: AMZN
Market value: $1.75 billion
Change in shares: +457,246 (+5%)

4. Alphabet

A Google logo on a pair of glass doors.A Google logo on a pair of glass doors.

A Google logo on a pair of glass doors.

Google LondonView Images/Getty Images

ticker: GOOGL & GOOG
Market value: $1.95 billion
Change in GOOGL and GOOG shares: +263,648 (+3%) and +118,983 (+3%)

3. Nvidia

Jensen Huang NvidiaJensen Huang Nvidia

ticker: NVDA
Market value: $2.45 billion
Change in shares: +71,876 (+3%)

2. Apple

iphone 8 plus iphone x appleiphone 8 plus iphone x apple

iphone 8 plus iphone x apple

(L-R) The new iPhone 8, iPhone Apple held their first special event at the new Apple Park campus, where they announced the new iPhone 8, iPhone X, and the Apple Watch Series 3.Justin Sullivan/Getty Images

ticker: AAPL
Market value: $2.63 billion
Change in shares: +404,275 (+3%)

1.Microsoft

Satya Nadella, CEO of Microsoft.Satya Nadella, CEO of Microsoft.

Satya Nadella, CEO of Microsoft.

Satya Nadella, CEO of Microsoft.Sean Gallup/Getty Images

ticker: MSFT
Market value: $3.38 billion
Change in shares: +148,061 (+2%)

Read the original article Business insider

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