These are the top 10 holdings of the Mormon Church’s $49 billion stock portfolio
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The Church of Jesus Christ of Latter-day Saints’ has an investment portfolio topping $100 billion that includes $49.3 billion invested in stocks.
The portfolio is registered with the SEC under the name Ensign Peak Advisors, and its lack of disclosures over the years recently led to it paying $5 million to settle charges that it went to great lengths to hide its investment portfolio.
The Mormon Church’s investment portfolio wasn’t revealed to the public until 2019, when a former employee of the fund filed a whistleblower complaint, alleging that the fund shouldn’t have tax-exempt status because it doesn’t engage in any charitable activities.
In a “60 Minutes” special earlier this year, the whistleblower said that the church’s investment arm acted as a “clandestine hedge fund” disguised as a charity.
Content retrieved from: https://markets.businessinsider.com/news/stocks/mormon-church-49-billion-stock-portfolio-top-holdings-ensign-peak-2023-8.
