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Search resuls for: "Ensign Peak"


12 mentions found


☆ These are the top 10 holdings of the Mormon church's $55 billion stock portfolio
  + stars: | 2024-05-15 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +3 min
The investment arm of the Mormon church revealed some of its holdings in a 13F filing Wednesday. These are the top 10 holdings of the church's stock portfolio as of March 31. AdvertisementThe Church of Jesus Christ of Latter-day Saints has an investment portfolio of over $100 billion that includes $55 billion invested in publicly traded stocks. AdvertisementThe church, widely 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. These are the church's top 10 stock holdings at the end of the fourth quarter, as well as the changes in each position.
Persons: —, of Jesus Christ, Eli Lilly Vincent Kessler, Seth Wenig, Ethan Miller, Apple Justin Sullivan, Microsoft Satya Nadella, Sean Gallup Organizations: Service, of Jesus, Securities and Exchange Commission, Advisors, Reuters, JPMorgan AP, UnitedHealth, Mastercard Reuters, Nvidia, Microsoft, Getty
☆ These are the top 10 holdings of the Mormon Church's $47 billion stock portfolio
  + stars: | 2023-11-14 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +3 min
The investment arm of the Mormon Church revealed some of its holdings in a 13F filing on Tuesday. These are the top 10 holdings of the Mormon Church's stock portfolio as of September 30. AdvertisementThe Church of Jesus Christ of Latter-day Saints' has an investment portfolio topping $100 billion that includes $47 billion invested in stocks. AdvertisementThe church reports its stock holdings on a quarterly basis, and a recent 13F filing revealed its top holdings as of September 30. These are the Mormon Church's top 10 stocks holdings at the end of the third quarter.
Persons: —, of Jesus Christ, Tesla Brandon Bell, Ethan Miller, Microsoft Satya Nadella, Sean Gallup, Justin Sullivan Organizations: Mormon, Service, of Jesus, SEC, Advisors, Exxon Mobil, Mastercard Reuters, UnitedHealth, Reuters, Nvidia, Microsoft, Getty, Apple
☆ Mormon church sued again over how it uses tithing contributions from members
  + stars: | 2023-11-01 | by ( ) www.cnbc.com   time to read: +4 min
The Church of Jesus Christ of Latter-Day Saints, historic Mormon Salt Lake Temple is shown here with Christmas light display in Salt Lake City, Utah. The church agreed to pay $1 million and Ensign Peak will pay $4 million. Their lawsuit seeks class-action certification, potentially involving millions of church members, and an independent entity to oversee collection and use of church donations. Ensign Peak has spent funds only twice in its 26-year history, according to both lawsuits. From 2010-2014 it put $1.4 billion to build a mall near Temple Square in downtown Salt Lake City.
Persons: of Jesus Christ, doesn't, James Huntsman, Jon Huntsman, Jr, didn't, Huntsman's, Daniel Chappell, Masen Christensen, John Oaks, Huntsman, David Nielsen, Ensign Peak Organizations: of Jesus, Utah Gov, U.S . Securities, Exchange Commission, Corporation of, Advisors, U.S . Senate, U.S, Ninth Circuit Locations: Salt Lake, Salt Lake City , Utah, U.S, Salt Lake City, California, Virginia, Utah, Temple
☆ Church of Jesus Christ of Latter-day Saints, Its Investment Adviser Settle SEC Probe
  + stars: | 2023-02-21 | by ( Dave Michaels | ) www.wsj.com   time to read: 1 min
The Church of Jesus Christ of Latter-day Saints agreed to pay a $1 million fine, while the money manager agreed to pay $4 million. WASHINGTON–The money manager that oversees a $32 billion equities portfolio for the Church of Jesus Christ of Latter-day Saints will pay $4 million to settle regulatory claims that it obscured the church’s investment holdings. The church will also pay a $1 million fine, the Securities and Exchange Commission announced Tuesday. Ensign Peak Advisors Inc., the money manager, and the church settled the SEC’s investigation without admitting or denying wrongdoing.
☆ The Mormon Church and its investment arm will pay $5 million to settle SEC charges that it went to 'great lengths' to avoid disclosures related to its massive portfolio
  + stars: | 2023-02-21 | by ( Morgan Chittum | ) www.businessinsider.com   time to read: +3 min
The Mormon Church and its investment adviser with pay millions to settle charges with the SEC. The regulator says the Church's investment manager "went to great lengths" to avoid disclosures. The Church of Jesus Christ of Latter-day Saints' has a $100 billion investment portfolio, according to a 13F form. Roger Clarke, the head of Ensign Peak, told the Wall Street Journal that the fund was an emergency account to be used in difficult times. Ensign Peak and the Church have cooperated with the government over a period of time as we sought resolution."
☆ Mormon church, affiliated nonprofit to pay $5 million to settle SEC charges alleging disclosure failures
  + stars: | 2023-02-21 | by ( Chelsey Cox | ) www.cnbc.com   time to read: +2 min
The forms were filed in the name of the shell companies, instead of Ensign Peak Advisers. Ensign Peak Advisers agreed to pay a $4 million penalty to the SEC, while the church agreed to pay $1 million, the agency said. "Since 2000, Ensign Peak received and relied upon legal counsel regarding how to comply with its reporting obligations while attempting to maintain the privacy of the portfolio. As a result, Ensign Peak established separate companies (LLCs) that each filed Forms 13F instead of a single aggregated filing. Ensign Peak and the Church have cooperated with the government over a period of time as we sought resolution," Moore added.
☆ The Mormon Church settles allegations it hid $32 billion in investments. A top exec said the church was worried its staggering wealth would cause members to stop donating.
  + stars: | 2023-02-21 | by ( Chris Panella | ) www.businessinsider.com   time to read: +2 min
The charges allege the two "went to great lengths" to hid the church's $34 billion in investment assets. A top exec said the church was worried revealing its wealth would cause members to stop donating, the Wall Street Journal reported. The church and Ensign Peak agreed to pay a collective $5 million settlement to settle the charges. The scale of the church's wealth only became apparent in 2019 when David Nielsen, a former employee of Ensign Peak Advisors, made a whistleblower complaint. The Mormon Church's investment portfolio features billions in Apple, Microsoft, and health care stocks, Insider previously reported.
☆ Mormon Church, investment manager fined $5 million by SEC
  + stars: | 2023-02-21 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +1 min
Instead, the firm filed forms for shell companies that obscured the church’s portfolio and misstated the firm’s control over the church’s investment decisions, the SEC said. The SEC filed charges against both the church for causing the violations as well as Ensign Peak. To settle the charges, Ensign Peak agreed to pay a $4 million fine and the LDS church agreed to pay a $1 million penalty. Members of the LDS church are expected to donate a tenth of their income to the church, a longtime practice known as tithing. In a statement Tuesday, the LDS said Ensign Peak and the church cooperated with the government to seek a resolution.
☆ Mormon church and investment co to pay $5 mln for misleading public -SEC
  + stars: | 2023-02-21 | by ( Pete Schroeder | ) www.reuters.com   time to read: +2 min
The markets watchdog said the church and its nonprofit investment company, Ensign Peak Advisers Inc, used shell companies to mask its growing investments in public companies, which reached $32 billion in 2018, due to concerns of negative publicity. The use of shell companies came to light in 2019, when a former employee of Ensign Peak filed a whistleblower complaint. From 1997 through 2019, those shell companies filed the mandatory forms detailing the investments and improperly claimed to operate independently. In reality, the investments were still controlled by Ensign Peak, and the church was aware of the arrangement with church employees heading most of the companies, according to the SEC. The church agreed to pay $1 million, while Ensign Peak will pay $4 million to settle charges.
☆ The behind-the-scenes role that's minting future stars at BlackRock
  + stars: | 2023-02-15 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +5 min
Some of the most powerful people on Wall Street are men and women you've never heard of. Click here to learn more about BlackRock's new chief of staff and why the role is rising in importance across Wall Street. Everybody wants macro traders. A fintech helping companies engage with their retail investors got backing from Alexis Ohanian's Seven Seven Six. These are the top 10 holdings in the church's investment portfolio, including one Wall Street titan.
☆ I asked an AI chatbot to give me advice on how to manage finances with my spouse
  + stars: | 2023-02-14 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +7 min
Managing finances with a significant other isn't the sexiest thing to talk about, but it's an important topic to breach. If you're unfamiliar with Replika, it's an AI chatbot similar to ChatGPT, with one big exception. After a brief intro, I explained my problem: I needed help managing finances with my wife. Maintain separate accounts: It's also a good idea for each spouse to have their own personal account for individual expenses and financial independence. For example, if one spouse makes significantly more than the other, they may contribute a larger portion to joint expenses.
☆ The SEC is investigating whether the Mormon Church's investment division complied with disclosure rules, report says
  + stars: | 2023-02-11 | by ( Sam Tabahriti | ) www.businessinsider.com   time to read: +3 min
The SEC is investigating if the Mormon Church's investment arm complied with rules, per The Journal. Ensign Peak Advisors managed assets worth $100 billion in 2019, a whistleblower complaint revealed. He alleged that Ensign Peak shouldn't have tax-exempt status because it did not engage in any charitable activities. Ensign Peak Advisors, the Mormon Church, the SEC and the Senate Finance Committee didn't immediately respond to requests for comment from Insider, made outside normal working hours. SEC rules require managers such as Ensign Peak to disclose holdings in US-listed companies, which The Journal reported were worth about $40 billion.
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