EXXONMOBIL INVESTMENT MANAGEMENT INC /TX Profile
Exxonmobil Investment Management Inc. is an investment management firm based out of Irving Texas. The company operates as a subsidiary firm of Exxon Mobil Corporation, specifically as its investment management arm. Exxonmobil Investment Management also has a location in Houston. The firm is largely owned by its parent company Exxon Mobil Corporation, which alone holds the controlling majority ownership of over 90% in the firm, with re remaining ownership split amongst various key executives. Exxonmobil Investment Management is currently headed by president and director Steven Robert Segien with the vice president being Daniel J. Higgins. The company was established as a foreign for profit corporation in the state of Texas in 1998. Exxonmobil Investment Management invests in the public equity markets within the U.S. and provides its services mainly to pension and profit sharing plans, which alone makes up over three quarters of its clientele, and also provides services to pooled investment vehicles and insurance company accounts related to employee benefit plans. The firm invests most heavily in the information technology sector, which alone makes up almost a fifth of its total asset allocations, and also invests in the health care, finance, consumer discretionary, consumer staples, industrials, energy, and utilities and telecommunications sectors, among other sectors to a lesser degree, in order of decreasing allocation. Exxonmobil Investment Management’s top holdings include Apple Inc., Microsoft Corp., Exxon Mobil Corp., Johnson & Johnson Co., General Electric Co., JPMorgan Chase & Co., Proctor & Gamble Co., and Pfizer Inc., among others, in order of decreasing allocation. The company’s top 10 holdings together make up approximately 17.1% of its total holdings and the company has a relatively low turnover rate of 1.6%. The company currently holds over $16.8 billion in total assets under management spread across 20 accounts, all of which are discretionary accounts.