Report: Mormon church investment fund had nearly $38 billion
Mormon Church Moves Public Stock Holdings to Single Entity
Published
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With The Turnaround Over, It Is Now Time To Buy:
Zions Bancorporation National Association (ZION) and Warrior Met Coal Inc. (HCC)
ENSIGN PEAK ADVISORS, INC. bought a fresh place in Zions Bancorporation National Association (NASDAQ:ZION).
The institutional investor bought 1.8 million shares of the stock in a transaction took place on 12/31/2019. In another most recent transaction, which held on 12/31/2019, MILLENNIUM MANAGEMENT LLC bought approximately 1.3 million shares of Zions Bancorporation National Association In a separate transaction which took place on 12/31/2019, the institutional investor, CITADEL ADVISORS LLC bought 1.3 million shares of the company’s stock. . .
Having a look at past record, we’re going to look at various forwards or backwards shifting developments regarding ZION.
The firm’s shares fell -11.06 percent in the past five business days and shrunk -22.66 percent in the past thirty business days.
In the previous quarter, the stock fell -25.67 percent at some point.
The output of the stock decreased -9.77 percent within the six-month closing period, while general annual output lost -27.32 percent.
The company’s performance is now negative at -30.47% from the beginning of the calendar year.
The firm’s shares fell -11.06 percent in the past five business days and shrunk -22.66 percent in the past thirty business days.
In the previous quarter, the stock fell -25.67 percent at some point.
The output of the stock decreased -9.77 percent within the six-month closing period, while general annual output lost -27.32 percent.
The company’s performance is now negative at -30.47% from the beginning of the calendar year.
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It Was the Best-Kept Secret in the Investment World.
The SEC filing is standard for institutional investment managers with assets of at least $100 million but while the church has met that threshold for years, the SEC website does not show any earlier filings by Ensign Peak Advisors. A church spokesman declined to answer questions about why the recent filing was made, the Tribune reported.
The filing does not include all the church's financial holdings and the church is not required to report investments in property or private companies. Ensign Peak Advisors is just one of the church's investment firms, said church historian D. Michael Quinn.
Quinn said. “But it's only part of the picture.”
The filing comes after a former church investment manager, David Nielsen, said he filed a complaint with the IRS in November alleging the church has improperly built a $100 billion investment portfolio using member donations that are supposed to go to charitable causes. He argues the church owes billions of dollars in taxes and he wants a cut of that as part of a reward the IRS offers whistleblowers.
The IRS has said federal tax laws do not allow it to confirm or discuss any complaints.
After Nielsen went public with his allegation, church officials defended how they use and invest member donations. The vast majority of member donations are used to fund church operations, temples, missions, education and humanitarian needs while another portion is “methodically safeguarded through wise financial management and the building of a prudent reserve for the future,” church spokesman Eric Hawkins said in a statement in December.-------------------------------------------------------------------------------------------------------------------------
