Ensign Peak Advisors’ drop in value wasn’t all from market losses.
A review of Ensign Peak Advisors’ latest filings with the U.S. Securities and Exchange Commission shows it sold assets, too.
As of the end of March, the investment firm — whose capital comes from excess tithes paid by church members — owned stocks in 1,622 companies or funds.
While there were big sell-offs in the financial, energy and industrials sectors, Ensign Peak Advisors snatched up stock in some technology and health care companies.
Ensign Peak Advisors owned $40 million worth of stock in the company at the end of the quarter.
Church leaders have described the Ensign Peak Advisors investment reserves as a “rainy day account” to help fund operations across the globe.
The faith’s humanitarian arm, Latter-day Saint Charities, has been aiding coronavirus relief efforts, launching 280 projects in 80 countries. »