Elfun Trusts Bolsters Portfolio with Thermo Fisher Scientific Inc, Marking a 2.37% Stake

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Insightful 13F Filing Update: Elfun Trusts (Trades, Portfolio)' Strategic Moves in Q4 2023

Elfun Trusts (Trades, Portfolio), a fund with exclusive access for General Electric's U.S. employees and trustees, has revealed its investment strategy for the fourth quarter of 2023 through the latest N-PORT filing. 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 by investing in U.S. companies with a strong domestic presence, focusing on equity securities across various industries. The fund's stock selection is pivotal to its performance, with an eye on companies that show potential for future dividend payments.


Summary of New Buys

Elfun Trusts (Trades, Portfolio) expanded its portfolio with the addition of 2 new stocks:

  • The most significant addition was Thermo Fisher Scientific Inc (TMO, Financial), with 160,300 shares, accounting for 2.37% of the portfolio and a total value of $85.09 million.
  • The second largest addition was ON Semiconductor Corp (ON, Financial), with 218,000 shares, representing approximately 0.51% of the portfolio, valued at $18.21 million.

Key Position Increases

Elfun Trusts (Trades, Portfolio) also bolstered its stakes in 7 stocks, with notable increases in:

  • Broadcom Inc (AVGO, Financial), with an additional 35,700 shares, bringing the total to 60,700 shares. This represents a 142.8% increase in share count, impacting the portfolio by 1.11%, and a total value of $67.76 million.
  • NextEra Energy Inc (NEE, Financial), with an additional 127,400 shares, bringing the total to 1,190,800. This adjustment marks an 11.98% increase in share count, with a total value of $72.33 million.

Summary of Sold Out Positions

Elfun Trusts (Trades, Portfolio) exited 2 holdings in the fourth quarter of 2023:

  • Lowe's Companies Inc (LOW, Financial): The fund sold all 236,349 shares, impacting the portfolio by -1.52%.
  • IQVIA Holdings Inc (IQV, Financial): The complete liquidation of 177,300 shares caused a -1.08% impact on the portfolio.

Key Position Reductions

Elfun Trusts (Trades, Portfolio) reduced its position in 19 stocks, with significant changes in:

  • Meta Platforms Inc (META, Financial) was reduced by 75,000 shares, leading to a -15.8% decrease in shares and a -0.7% impact on the portfolio. The stock traded at an average price of $325.65 during the quarter, returning 52.63% over the past 3 months and 34.05% year-to-date.
  • UnitedHealth Group Inc (UNH, Financial) saw a reduction of 43,900 shares, a -20.54% decrease, impacting the portfolio by -0.68%. The stock's average trading price was $533.34 during the quarter, with returns of -5.00% over the past 3 months and -3.58% year-to-date.

Portfolio Overview

As of the fourth quarter of 2023, Elfun Trusts (Trades, Portfolio)'s portfolio comprised 42 stocks, with top holdings including 8.88% in Microsoft Corp (MSFT, Financial), 6.34% in Apple Inc (AAPL, Financial), 5.44% in Amazon.com Inc (AMZN, Financial), 4.94% in NVIDIA Corp (NVDA, Financial), and 3.94% in Meta Platforms Inc (META). The fund's investments are primarily concentrated across 11 industries, reflecting a diversified approach to value investing.



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