8/27/2023 0 Comments Sec filings folio institutionalOf the 30 companies that comprise the Dow Jones Industrial Average, Coca-Cola is the only one Ensign Peak Advisors did not invest in. There were no cigarette or beer manufacturers, nor was there an investment in a coffee chain, such as Starbucks. The church counsels its members to not consume tobacco, alcohol or hot caffeinated drinks. It owned stock in SiriusXM, the three companies that combine to own the local ABC, CBS and FOX affiliates, and in The New York Times Co. While the LDS Church owns for-profit insurance and personal investment businesses as well as radio stations and Salt Lake City’s NBC affiliate, KSL-Channel 5, Ensign Peak Advisors invested in those businesses’ competitors. The church sold its majority stake in Zions in 1960.Įnsign Peak Advisors also owned $76.7 million of stock in Pluralsight, an online education company based in Farmington. That bank can trace its history to a bank founded in 1873 by LDS Church President Brigham Young. The fund reported owning $91.8 million of stock in Zions Bank. There also were investments in two Utah-based companies. The next two biggest sectors were health care, including Johnson & Johnson and Merck stocks and financial services - stocks such as Bank of America and Berkshire Hathaway. Of those 100, the plurality of the investment - 26% - was in the technology sector. Two-thirds of Ensign Peak Advisors’ reported stock holdings came from 100 companies or mutual funds. About $3 billion of the Ensign Peak Advisors stock holdings - or 7% of the value reported in the filing - was almost evenly split between Apple and Microsoft stock. Apple to ZionsĮnsign Peak Advisors itself is far larger and more diversified than any of those smaller funds, the Feb. In 2018, The Truth and Transparency Foundation, the nonprofit newsroom behind the former MormonLeaks site with a stated mission to disclose information about religions, said it had found 13 such shell companies with assets of $32 billion. Some assets are held in shell companies that file separately. This filing doesn’t encompass all of the church’s financial holdings. “They may have previously read the rules to exempt advisers to religious institutions, and are now disclosing in light of the recent controversy,” said Jeff Schwartz, a University of Utah professor who focuses on corporate and securities law and reviewed the filing for The Salt Lake Tribune. The LDS Church, through a spokesman, declined to answer questions about the recent filing or why it wasn’t submitted before. The SEC filing is standard for “institutional investment managers” with assets of at least $100 million.Įnsign Peak Advisors has met that threshold for years, yet the SEC website shows this is the first time the fund has submitted such a filing.
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