Insight into Elfun Trusts (Trades, Portfolio)' Q1 2024 Investment Moves and Stock Adjustments
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 first quarter of 2024 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 promise for future dividend payments.
Summary of New Buys
Elfun Trusts (Trades, Portfolio) expanded its portfolio with 6 new stock additions. Noteworthy new positions include:
- CMS Energy Corp (CMS, Financial), with 1,351,100 shares, making up 2.05% of the portfolio and valued at $81,525,370.
- Ulta Beauty Inc (ULTA, Financial), comprising 99,900 shares, which is about 1.31% of the portfolio, with a total value of $52,235,710.
- Adobe Inc (ADBE, Financial), with 97,300 shares, accounting for 1.23% of the portfolio and a total value of $49,097,580.
Key Position Increases
Elfun Trusts (Trades, Portfolio) also bolstered its stakes in 11 stocks, with significant increases in:
- ON Semiconductor Corp (ON, Financial), adding 752,200 shares for a total of 970,200 shares. This represents a 345.05% increase in shares, impacting the portfolio by 1.39%, and valued at $71,358,210.
- American Tower Corp (AMT, Financial), with an additional 82,300 shares, bringing the total to 446,629. This adjustment marks a 22.59% increase in shares, with a total value of $88,249,420.
Summary of Sold Out Positions
Elfun Trusts (Trades, Portfolio) exited 4 holdings completely in the first quarter of 2024, including:
- NextEra Energy Inc (NEE, Financial), selling all 1,190,800 shares, impacting the portfolio by -2.02%.
- Costco Wholesale Corp (COST, Financial), liquidating all 100,312 shares, with a -1.84% portfolio impact.
Key Position Reductions
Elfun Trusts (Trades, Portfolio) reduced its position in 20 stocks. The most significant reductions were:
- NVIDIA Corp (NVDA, Financial) by 48,800 shares, a -13.64% decrease, impacting the portfolio by -0.67%. NVDA traded at an average price of $724.8 during the quarter and has returned 40.44% over the past 3 months and 74.48% year-to-date.
- Waste Management Inc (WM, Financial) by 112,500 shares, a -26.38% reduction, impacting the portfolio by -0.56%. WM's average trading price was $196.52 during the quarter, with returns of 12.32% over the past 3 months and 16.42% year-to-date.
Portfolio Overview
As of the first quarter of 2024, Elfun Trusts (Trades, Portfolio)'s portfolio consisted of 44 stocks. The top holdings included 8.96% in Microsoft Corp (MSFT, Financial), 7.01% in NVIDIA Corp (NVDA), 5.61% in Amazon.com Inc (AMZN, Financial), 5.09% in Apple Inc (AAPL, Financial), and 4.24% in Meta Platforms Inc (META, Financial). The fund's investments are primarily concentrated across 11 industries, including Technology, Healthcare, Financial Services, Communication Services, Consumer Cyclical, Industrials, Energy, Consumer Defensive, Basic Materials, Utilities, and Real Estate.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
