eBusiness Weekly
An investment firm for the Walton family disclosed that it cut exposure to emerging market stocks and bought short-term Treasury funds.
WIT LLC, an acronym for the Walton Investment Team, held about US$5 billion in US stocks and exchange-traded funds at the end of last quarter, according to a regulatory filing with the Securities and Exchange Commission on Monday. The firm only started disclosing its holdings this year, with most of the money invested in low-cost ETFs.
The biggest change in the portfolio was an increase in the Vanguard Short-Term Treasury ETF. WIT added 9,66 million shares and the position increased by US$593,1 million to US$1,36 billion. It also bolstered its position in the iShares Short-Term National Muni Bond ETF.
The firm cut its exposure to the Vanguard FTSE Emerging Markets fund by almost 5 million shares, taking the stake down to US$1,8 billion.
The Waltons are the world’s wealthiest family, with a fortune estimated earlier this year at about US$238 billion, according to the Bloomberg Billionaires Index. About half that is tied to Walmart Inc., the company founded by Sam Walton in 1950.
The family has kept its investments quiet for decades, but it’s getting harder as they sell stock in Walmart and diversify their fortune. The family has sold more than US$6 billion in Walmart stock since the start of 2020.
SEC rules require investors managing more than US$100 million in US equities to disclose their holdings, though family offices can appeal to keep these documents confidential. — Bloomberg.
