Deseret Mutual Benefit Administrators

[Niemand]

https://www.sltrib.com/religion/2023/09 ... und-worth/

"Questions are simmering are simmering over a lesser-known multibillion-dollar fund of The Church of Jesus Christ of Latter-day Saints, this one operated on behalf of its employees, including top church leaders.

Salt Lake City-based Deseret Mutual Benefit Administrators oversees pension and health plans worth nearly $9 billion for nearly 35,000 workers and retirees from the church and auxiliary firms."

"Nearly $2.5 billion was reportedly invested in partnerships and joint ventures. The portfolio held an estimated $1.2 billion in interest-bearing cash, U.S. government securities or corporate bonds, with another $758 million in real estate, with the rest made up of insurance-related investments.

Total assets reported by DMBA started 2021 worth $7.93 billion, disclosures show, and ended the year valued at $8.96 billion.

Analysis of the reports extending yearly back to 2009 also indicates that some of the U.S. securities that DMBA owned and managed directly may have at times exceeded $100 million in value over that time, which would have required they be disclosed separately to the SEC.

Yet DMBA managers did not file their first SEC report, referred to as a 13F, until mid-February 2020, disclosing the pension portfolio’s size as of the last quarter of 2019 at $126 million."

"Widow’s Mite notes that DMBA’s six 13F disclosures — covering only its stock holdings above $100 million — filed after the first one between early 2020 and mid-2021 each lists a handful of investments, worth about $203 million as of the first quarter of 2021.

The rest of its corporate stocks holdings revealed in pension filings — pushing that total to the $1.4 billion range — were reported as managed by third parties.

Three months later, in its next quarterly report, those holdings reported to the SEC jump dramatically in size and value, to 501 separate investments valued at a total of $412 million and held directly by DMBA.

The Widow’s Mite Report refers to this as “an unusual spike in the data,” saying it prompts the question: “Has DMBA owned U.S. stocks in the past? If so, this would have added to prior 13F reporting requirements.”

[Lizzy60]

I hope there are records with dates and monetary amounts of money paid to Jodi Hildebrandt for counseling of LDS members referred to her by their bishops. Jodi Hildebrandt, aka Connexions, needs to be flushed out.