In This Article:
Insight into Elfun Trusts (Trades, Portfolio)' Latest Investment Moves and Portfolio Adjustments
Elfun Trusts (Trades, Portfolio), a fund with exclusive access for General Electric's U.S. employees and trustees, has revealed its investment activities for the third quarter of 2023. The fund, previously managed by David Carlson until 2019, is now under the stewardship of William Sandow and Christopher Sierakowski. Elfun Trusts (Trades, Portfolio) aims to generate returns through a diversified portfolio of U.S. equity securities, focusing on companies with significant domestic operations or markets. The fund's strategy emphasizes individual company merits and future income potential, including dividend-paying prospects.
Summary of New Buys
Elfun Trusts (Trades, Portfolio) expanded its portfolio with 3 new stock additions:
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Kenvue Inc (NYSE:KVUE) leads the new entries with 3,241,086 shares, making up 2.01% of the portfolio and valued at $65.08 million.
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Broadcom Inc (NASDAQ:AVGO) follows with a purchase of 25,000 shares, representing 0.64% of the portfolio, totaling $20.76 million.
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ARM Holdings PLC (NASDAQ:ARM) rounds out the top three, with 86,400 shares accounting for 0.14% of the portfolio, valued at $4.62 million.
Key Position Increases
Elfun Trusts (Trades, Portfolio) also bolstered its stakes in 8 companies:
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Biomarin Pharmaceutical Inc (NASDAQ:BMRN) saw a substantial addition of 234,600 shares, bringing the total to 618,491. This increase of 61.11% in shares held represents a 0.64% portfolio impact, with a value of $54.72 million.
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ASML Holding NV (NASDAQ:ASML) also experienced a significant boost with an additional 32,000 shares, totaling 63,300 shares and valued at $37.26 million.
Summary of Sold Out Positions
Elfun Trusts (Trades, Portfolio) exited its position in Qualcomm Inc (NASDAQ:QCOM) during the quarter, selling all 619,100 shares, which impacted the portfolio by -2.21%.
Key Position Reductions
Elfun Trusts (Trades, Portfolio) trimmed its holdings in 17 stocks, with notable reductions in:
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Mondelez International Inc (NASDAQ:MDLZ) by 261,700 shares, a -28.08% decrease, impacting the portfolio by -0.57%. The stock's average trading price was $72.06 during the quarter, with a -0.85% return over the past 3 months and a 7.48% year-to-date return.
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Eaton Corp PLC (NYSE:ETN) by 81,700 shares, a -21.27% reduction, impacting the portfolio by -0.49%. The stock's average trading price was $215.58 during the quarter, with a -0.60% return over the past 3 months and a 46.48% year-to-date return.