The Church of Jesus Christ of Latter-day Saints made $6 billion in 2020 through an investment fund according to FOX 13 reports.
The numbers were reported in a new filing with the U.S. Securities and Exchange Commission.
The fund, called Ensign Peak Advisors, is heavily invested in tech, according to FOX 13. Holdings in companies such as Tesla and Amazon helped boost the fund last year. What started as $1 million invested in Tesla became $330 million, according to FOX 13.
The fund divested from some oil companies during the year, according to FOX 13.
As Fox points out, this is $6 billion on only part of the Church's investment strategy.
A new filing with the U.S. Securities and Exchange Commission shows The Church of Jesus Christ of Latter-day Saints’ big investment fund made money in 2020.
The fund, called Ensign Peak Advisors, grew by $6.2 billion, finishing the year with $44 billion.
Ensign Peak only began issuing quarterly reports a year ago, meaning Friday’s filing is the first time the church’s members can track Ensign Peak’s annual performance. The fund is the largest component of stock portfolio estimated at $100 million in 2019.
What are the chances that a full financial accounting will be given at the April Conference?
I don't know. They usually tend to wax poetical when speaking of these matters. I believe that Hinckley would have said "We have enough for a rainy day." If given the opportunity, I imagine that Maxwell (who fancied himself a latter-day Cicero) would have have bumped it up a notch or two to "Brethren, blessings continue to shower upon us like Mammon from heaven."
Take a look at the link for Tesla stock. I bet Jesus told his servants to invest around the end of January, 2020, just when covid-19 was beginning to ravage the world. At least greedy Mormon Jesus has his priorities straight.
The Church of Jesus Christ of Latter-day Saints made $6 billion in 2020 through an investment fund according to FOX 13 reports.
The numbers were reported in a new filing with the U.S. Securities and Exchange Commission.
The fund, called Ensign Peak Advisors, is heavily invested in tech, according to FOX 13. Holdings in companies such as Tesla and Amazon helped boost the fund last year. What started as $1 million invested in Tesla became $330 million, according to FOX 13.
The fund divested from some oil companies during the year, according to FOX 13.
As Fox points out, this is $6 billion on only part of the Church's investment strategy.
A new filing with the U.S. Securities and Exchange Commission shows The Church of Jesus Christ of Latter-day Saints’ big investment fund made money in 2020.
The fund, called Ensign Peak Advisors, grew by $6.2 billion, finishing the year with $44 billion.
Ensign Peak only began issuing quarterly reports a year ago, meaning Friday’s filing is the first time the church’s members can track Ensign Peak’s annual performance. The fund is the largest component of stock portfolio estimated at $100 million in 2019.
I keep seeing headlines like “Mormon church made $6.8b during the pandemic.”
This figure is wrong.
The real number is closer to $20 billion.
I think the article in the OP and the OP itself make it clear that the reported $6 billion profit is on a single investment fund, rather than a reflection of all the profits made by the Church for 2020 across all their investment funds, property gains, donation income etc.
Your total $20 billion estimate seems reasonable to me, but I’d be interested to see your workings in arriving at that number.
