Home > Business > The Mormon Church's secretive $100 billion fund slashed 'big tech' stocks, quadrupled its Tesla stake, and bought GameStop shares last quarter

The Mormon Church's secretive $100 billion fund slashed 'big tech' stocks, quadrupled its Tesla stake, and bought GameStop shares last quarter

Markets Insider

2021-03-25 15:38:27

The Church of Jesus Christ of Latter-day Saints is betting on Tesla and GameStop.

  • The Mormon Church's $100 billion fund slashed its "big tech" bets last quarter.
  • Ensign Peak Advisors also quadrupled its Tesla bet and bought GameStop shares.
  • The fund's US stock portfolio rose in value to $44 billion.
  • See more stories on Insider's business page .

The Mormon Church's secretive $100 billion fund trimmed its technology bets, quadrupled its Tesla stake, and added GameStop to its portfolio last quarter.

Ensign Peak Advisors slashed its four biggest holdings - Apple, Microsoft, Amazon, and Alphabet - by more than 7%, SEC filings show . However, the combined value of the stakes still climbed to over $6.7 billion as the companies' stock prices rose.

The investing arm of the Church of Jesus Christ of Latter-day Saints also quadrupled the size of its Tesla bet to 467,000 shares. Coupled with a sharp increase in the automaker's stock price, the position surged in value

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