Major Changes in Investments by the Chan Zuckerberg Initiative

The foundation established by Meta Platforms CEO Mark Zuckerberg and his wife, Priscilla Chan, has recently made significant changes to its U.S.-traded investments. In the third quarter, the Chan Zuckerberg Initiative sold its shares in DoorDash (ticker: DASH) and iShares Core MSCI Emerging Markets exchange-traded fund (IEMG), while increasing its investment in Vanguard FTSE Europe ETF (VGK) by nearly fivefold.

Disclosure of Changes

These changes were disclosed by the foundation in a form filed with the Securities and Exchange Commission. Unfortunately, the Chan Zuckerberg Initiative did not respond to a request for comment regarding these changes.

Generous Stock Donations

It's important to note that Mark Zuckerberg and Priscilla Chan have committed to donating 99% of their Meta stock (META) through their foundation. Since December 2015, they have awarded 4,470 grants amounting to an impressive $4.84 billion.

DoorDash Stock Sale

During the third quarter, the foundation decided to sell all of its 52,859 DoorDash shares, which it had owned since the end of June. Interestingly, DoorDash stock experienced both significant growth and a major decline this year. After a 67% drop in 2022, it surged by an impressive 63% in the first nine months of this year. In the fourth quarter alone, shares of this food-delivery firm have gained 12%.

Market Performance

It's also worth mentioning that the S&P 500 index performed well in 2023. From January through September, it rose by 12% following a 19% decline in the previous year. So far in the fourth quarter, the index has gained 1.8%.

Insights on DoorDash

DoorDash earnings have been remarkably strong this year. The company has even issued warnings to its app users, noting that food orders without tips may result in longer wait times. Moreover, a judge recently ruled that higher minimum-pay rates for New York City food-delivery workers could take effect in July while taking into account challenges brought forth by app-based companies, including DoorDash.

iShares Core MSCI Emerging Markets ETF

As for the iShares Core MSCI Emerging Markets ETF, its shares experienced a 1.9% gain during the first nine months of 2023 following a 22% slump last year. In the current quarter, these shares have already increased by 2.1%.

ETF Holdings

The top five holdings of the ETF as of Nov. 3 were as follows:

1. Taiwan Semiconductor Manufacturing (TSM)
2. Tencent Holdings (TCEHY)
3. Samsung Electronics
4. Alibaba Group Holding (BABA)
5. Reliance Industries

This ETF is benchmarked against the MSCI Emerging Markets Investable Market Index.

Chan Zuckerberg Initiative's Investment

As of June 30, the Chan Zuckerberg Initiative owned 746,880 shares of the iShares Core MSCI Emerging Markets ETF. However, they sold all of their shares by the end of September.

Furthermore, the foundation increased its investment in the Vanguard FTSE Europe ETF. They bought an additional 1.62 million shares, bringing their total investment to 1.97 million shares as of Sept. 30.

Vanguard FTSE Europe ETF

The Vanguard FTSE Europe ETF is benchmarked against the FTSE Developed Europe All Cap Index. Its top five equity holdings as of Sept. 30 were:

1. Nestlé (NSRGY)
2. Novo Nordisk (NVO)
3. ASML Holding (ASML)
4. Novartis (NVS)
5. AstraZeneca (AZN)

This ETF experienced a 4.5% gain in the first nine months of this year, following a 19% slump in 2022. As for the fourth quarter, shares of the ETF have remained flat.

This information is part of Inside Scoop, a regular feature that covers stock transactions by corporate executives, board members, prominent figures, politicians, and large shareholders. These investors are required to disclose their stock trades with the Securities and Exchange Commission or other regulatory groups.