Thrivent Financial for Lutherans
Long book
$51.34B
Q1 2026
Positions
2442
Top-10 weight
19%
concentration
Last quarter
+13.3%
SPY +14.8%
Turnover
13%
of book per quarter
Strategy in plain words
auto-generated from filingsThrivent Financial for Lutherans is a mechanically diversified allocator, running a $51.34B US long book across 2442 positions.
The portfolio is broadly diversified across 2442 positions (top 10 only 19%). Turnover is modest: positions are typically held for years. Current anchor positions: NVIDIA CORP, MICROSOFT CORP, APPLE INC, AMAZON.COM INC, ALPHABET INC-CL C.
Over the last 9 quarters its long book ran on average 0.9pp per quarter behind the S&P 500, beating the index in 2 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+0.0%
Q2 2024
+6.9%
Q3 2024
+0.6%
Q4 2024
-4.7%
Q1 2025
+9.1%
Q2 2025
+6.8%
Q3 2025
+2.6%
Q4 2025
-2.7%
Q1 2026
+13.3%
Sector allocation
Technology 29%
Industrials 16%
Financials 14%
Consumer discretionary 10%
Healthcare 10%
Services media 6%
Utilities 5%
Energy 4%
Long book by quarter
What does Thrivent Financial own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | Technology | 10.1M | $1.76B | 3.4% | -14.1% |
| MSFT MICROSOFT CORP | Technology | 3.6M | $1.34B | 2.6% | -10.2% |
| AAPL APPLE INC | Technology | 5.1M | $1.28B | 2.5% | -9.6% |
| AMZN AMAZON.COM INC | Consumer discretionary | 5.9M | $1.22B | 2.4% | -0.6% |
| GOOG ALPHABET INC-CL C | Technology | 2.8M | $798.2M | 1.6% | -11.5% |
| META META PLATFORMS INC-CLASS A | Technology | 1.4M | $792.5M | 1.5% | -5.2% |
| GOOGL ALPHABET INC-CL A | Technology | 2.6M | $739.2M | 1.4% | -5.0% |
| AVGO BROADCOM INC | Technology | 2.2M | $671.1M | 1.3% | -2.8% |
| JPM JPMORGAN CHASE & CO | Financials | 1.8M | $529.5M | 1.0% | +0.4% |
| TSLA TESLA INC | Industrials | 1.4M | $502.8M | 1.0% | -2.2% |
| XOM EXXON MOBIL CORP | Energy | 2.7M | $460.7M | 0.9% | +5.3% |
| LLY ELI LILLY & CO | Healthcare | 468.8K | $431.2M | 0.8% | +0.8% |
| NFLX NETFLIX INC | Services media | 4.2M | $406.4M | 0.8% | +15.9% |
| CAT CATERPILLAR INC | Industrials | 512.3K | $362.9M | 0.7% | -8.1% |
| V VISA INC-CLASS A SHARES | Services media | 1.2M | $359.6M | 0.7% | -28.6% |
| MS MORGAN STANLEY | Financials | 2.0M | $325.3M | 0.6% | +40.6% |
| JNJ JOHNSON & JOHNSON | Healthcare | 1.3M | $319.0M | 0.6% | -16.8% |
| WFC WELLS FARGO & CO | Financials | 3.8M | $304.9M | 0.6% | -6.6% |
| LRCX LAM RESEARCH CORP | Industrials | 1.4M | $295.7M | 0.6% | +348.0% |
| FAST FASTENAL CO | Consumer discretionary | 6.2M | $289.0M | 0.6% | -8.7% |
| BAC BANK OF AMERICA CORP | Financials | 5.9M | $286.9M | 0.6% | +2.0% |
| WMT WALMART INC | Consumer discretionary | 2.3M | $286.1M | 0.6% | -17.2% |
| MRK MERCK & CO. INC. | Healthcare | 2.4M | $282.9M | 0.6% | -2.3% |
| COP CONOCOPHILLIPS | Energy | 2.0M | $263.8M | 0.5% | -5.5% |
| CEG CONSTELLATION ENERGY | Utilities | 893.1K | $249.4M | 0.5% | +132.1% |
| GE GENERAL ELECTRIC | Industrials | 878.3K | $249.2M | 0.5% | +410.4% |
| PLTR PALANTIR TECHNOLOGIES INC-A | Technology | 1.6M | $238.9M | 0.5% | +35.0% |
| CSCO CISCO SYSTEMS INC | Technology | 3.0M | $232.9M | 0.5% | +1.7% |
| PH PARKER HANNIFIN CORP | Industrials | 251.2K | $224.8M | 0.4% | +2.7% |
| SCHW SCHWAB (CHARLES) CORP | Financials | 2.4M | $223.8M | 0.4% | -8.9% |
| ISRG INTUITIVE SURGICAL INC | Healthcare | 472.0K | $217.6M | 0.4% | +12.7% |
| HD HOME DEPOT INC | Consumer discretionary | 658.8K | $216.7M | 0.4% | +22.5% |
| DVN DEVON ENERGY CORP | Energy | 4.2M | $212.1M | 0.4% | -9.7% |
| ETR ENTERGY CORP | Utilities | 1.8M | $203.4M | 0.4% | -14.2% |
| IBM INTL BUSINESS MACHINES CORP | Technology | 830.2K | $201.2M | 0.4% | +13.7% |
| ANET ARISTA NETWORKS INC | Technology | 1.6M | $191.7M | 0.4% | +257.3% |
| COF CAPITAL ONE FINANCIAL CORP | Financials | 1.0M | $189.8M | 0.4% | +1.2% |
| LH LABCORP HOLDINGS INC | Healthcare | 701.6K | $187.2M | 0.4% | +21.6% |
| HAL HALLIBURTON CO | Energy | 4.8M | $186.8M | 0.4% | +64.4% |
| EME EMCOR GROUP INC | Industrials | 247.3K | $182.6M | 0.4% | +117.8% |
| QCOM QUALCOMM INC | Technology | 1.4M | $178.5M | 0.3% | +11.0% |
| DAL DELTA AIR LINES INC | Industrials | 2.7M | $178.0M | 0.3% | +1.3% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 369.2K | $176.9M | 0.3% | +1.0% |
| DUK DUKE ENERGY CORP | Utilities | 1.3M | $175.2M | 0.3% | +1.6% |
| EPD ENTERPRISE PRODUCTS PARTNERS | Utilities | 4.6M | $173.6M | 0.3% | +1.7% |
| SNX TD SYNNEX CORP | Consumer discretionary | 1.0M | $172.2M | 0.3% | +2.0% |
| HON HONEYWELL INTERNATIONAL INC | Industrials | 761.6K | $172.1M | 0.3% | +1.6% |
| AXP AMERICAN EXPRESS CO | Financials | 567.9K | $171.8M | 0.3% | +9.1% |
| CSX CSX CORP | Industrials | 4.1M | $168.5M | 0.3% | -16.4% |
| AMGN AMGEN INC | Healthcare | 470.0K | $165.4M | 0.3% | -13.9% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 1, 2026 | 4385 | $52.48B | $K fixed canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 5, 2026 | 4469 | $56.40B | $K fixed canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 4, 2025 | 3953 | $50.83B | $K fixed canonical | SEC ↗ |
| Q2 2025 | 13F-HR/ARESTATEMENT | Aug 26, 2025 | 4212 | $45.72B | $K fixed canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 11, 2025 | 1783 | $8.2M | SEC ↗ | |
| Q1 2025 | 13F-HR/ARESTATEMENT | Aug 26, 2025 | 3973 | $45.49B | $K fixed canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 13, 2025 | 2985 | $28.6M | SEC ↗ | |
| Q4 2024 | 13F-HR | Feb 10, 2025 | 4533 | $51.59B | $K fixed canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 7, 2024 | 4474 | $52.62B | $K fixed canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 13, 2024 | 4370 | $49.59B | $K fixed canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 4308 | $49.76B | $K fixed canonical | SEC ↗ |
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