The family behind the $238 billion Walmart fortune just revealed their stock picks

walmart sign — Walmart.
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The team managing the $238 billion Walmart family fortune disclosed its holdings, according to a report from Bloomberg.
The Walton Investment Team held $5 billion in the stock market at the end of June, a 32% gain from $3.8 billion six months prior.
Stock picks ranged widely from Pinduoduo to Apollo Global Management and Snowflake.
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The investment team managing the $238 billion Walmart family fortune revealed its stock picks in newly released disclosures, according to a report from Bloomberg.

The Walton Investment Team held $5 billion in the stock market at the end of June, up from $3.8 billion six months prior. That 32% gain came on the back of several low-cost exchange-traded funds as well as a few choice stocks.

The Waltons' largest holding was a $2.2 billion stake in VWO, Vanguard's emerging markets ETF, which rose 8.4% between December 2020 and June of this year. Other ETF holdings included various Vanguard and iShares funds in emerging markets and Treasury bonds.

Stock picks ranged widely from Chinese e-commerce platform Pinduoduo to private equity giant Apollo Global Management and cloud computing firm Snowflake.

The three stocks have had divergent performances between December and June. Pinduoduo fell steadily from the start of the year, while Snowflake seesawed and Apollo climbed 27%. Walmart stock was slightly down during the period.

The Walton family is the richest family in the world, and their massive $238 billion fortune has continued to add tens of billions per year. Half of their fortune is tied to Walmart, though the family has sold almost $7 billion in the company's stock since 2020, according to Bloomberg.

The Walton Investment Team was launched in 2020 and is an "affiliate" of the main office that manages the Walton family fortune, a representative told Bloomberg.

Read the original article on Business Insider