CIK: 0000314984
Total reported value
$52.5B
Reporting period: 2026-03-31 · Number of holdings: 4385
Thrivent Financial for Lutherans disclosed 4385 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $52.5B and a quarterly turnover rate of 30.8%.
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Thrivent Financial for Lutherans's disclosed holdings carry a Herfindahl concentration index of 0.006 — mathematically equivalent to about 168 equally-sized positions, well below its 4385 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 3.74), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Trim MSFT
-10.2% -$608.2M
Trim NVDA
-14.1% -$431.5M
Trim SPOT
-93.6% -$268.8M
Add LRCX
+348.0% $242.6M
Trim TSME
-94.3% -$219.4M
Add GE
+410.4% $196.1M
Thrivent cuts crowded mega-cap software and payments positions to fund LRCX and GE, executing a high-contrarian basket rotation from AI/cloud into hardware, equipment, and industrial capex. The thirty percent turnover rate confirms active capital deployment rather than passive drift.
Long the pass-through of AI spending into silicon manufacturing and industrial infrastructure; short the crowded tech liquidity premium that inflates mega-cap multiples. Counter-thesis: enterprise SaaS compounding outpaces cyclical manufacturing, with lower rates preserving tech valuation floors.
The two-thousand-five-hundred holding breadth turns active trims and additions into statistical noise against passive price drift. The heavy contrarian tilt leaves the portfolio vulnerable to a tech earnings whipsaw or industrial margin compression, while excessive naming dilution prevents any single catalyst from driving outsized alpha.
Compiled by AI from public 13F filings; reflects historical positioning only and carries no investment recommendation.
Showing top 200 holdings (of 4385 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 3.36% | -0.53% | -14.05% | |
| 2 | MSFT | Microsoft CORP | Stock-Tech | 2.54% | -0.91% | -10.22% | |
| 3 | AAPL | Apple INC | Stock-Tech | 2.44% | -0.26% | -9.65% | |
| 4 | AMZN | Amazon.com INC | Stock-Consumer Disc | 2.33% | -0.08% | -0.56% | |
| 5 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.52% | -0.23% | -11.46% | |
| 6 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.51% | -0.20% | -5.24% | |
| 7 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.41% | -0.09% | -4.96% | |
| 8 | AVGO | Broadcom INC | Stock-Tech | 1.28% | -0.09% | -2.78% | |
| 9 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 1.20% | — | +3.89% | |
| 10 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.01% | — | +0.37% | |
| 11 | TSLA | Tesla INC | Stock-Consumer Disc | 0.96% | -0.14% | -2.17% | |
| 12 | XOM | Exxon Mobil CORP | Stock-Energy | 0.88% | +0.33% | +5.28% | |
| 13 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.82% | -0.07% | +0.82% | |
| 14 | NFLX | Netflix INC | Stock-Comm Services | 0.77% | — | +15.94% | |
| 15 | CAT | Caterpillar INC | Stock-Industrials | 0.69% | — | -8.07% | |
| 16 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 0.69% | — | -11.84% | |
| 17 | V | Visa Inc-class A Shares | Stock-Financials | 0.69% | -0.35% | -28.56% | |
| 18 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 0.68% | — | +0.31% | |
| 19 | MS | Morgan Stanley | Stock-Financials | 0.62% | +0.18% | +40.57% | |
| 20 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.61% | — | -16.82% | |
| 21 | WFC | Wells Fargo & Co | Stock-Financials | 0.58% | -0.10% | -6.62% | |
| 22 | LRCX | Lam Research CORP | Stock-Tech | 0.56% | +0.47% | +347.98% | |
| 23 | FAST | Fastenal Co | Stock-Industrials | 0.55% | — | -8.68% | |
| 24 | BAC | Bank Of America CORP | Stock-Financials | 0.55% | — | +2.05% | |
| 25 | WMT | Walmart INC | Stock-Consumer Staples | 0.55% | — | -17.17% | |
| 26 | MRK | Merck & Co. INC. | Stock-Healthcare | 0.54% | — | -2.31% | |
| 27 | TMVE | Thrivent Mid Cap Value ETF | ETF-Other | 0.53% | — | — | |
| 28 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 0.52% | — | +2.46% | |
| 29 | COP | Conocophillips | Stock-Energy | 0.50% | — | -5.53% | |
| 30 | CEG | Constellation Energy | Stock-Utilities | 0.48% | +0.24% | +132.14% | |
| 31 | GE | General Electric | Stock-Industrials | 0.47% | +0.38% | +410.37% | |
| 32 | PLTR | Palantir Technologies Inc-a | Stock-Tech | 0.46% | — | +35.00% | |
| 33 | CSCO | Cisco Systems INC | Stock-Tech | 0.44% | — | +1.71% | |
| 34 | USHY | Ishares Broad Usd High Yield | ETF-High Yield | 0.44% | — | -1.91% | |
| 35 | PH | Parker Hannifin CORP | Stock-Industrials | 0.43% | — | +2.70% | |
| 36 | SCHW | Schwab (charles) CORP | Stock-Financials | 0.43% | — | -8.92% | |
| 37 | ISRG | Intuitive Surgical INC | Stock-Healthcare | 0.41% | — | +12.70% | |
| 38 | HD | Home Depot INC | Stock-Consumer Disc | 0.41% | — | +22.45% | |
| 39 | DVN | Devon Energy CORP | Stock-Energy | 0.40% | — | -9.73% | |
| 40 | ETR | Entergy CORP | Stock-Utilities | 0.39% | — | -14.16% | |
| 41 | IBM | Intl Business Machines CORP | Stock-Tech | 0.38% | — | +13.72% | |
| 42 | ANET | Arista Networks INC | Stock-Tech | 0.37% | +0.27% | +257.26% | |
| 43 | COF | Capital One Financial CORP | Stock-Financials | 0.36% | — | +1.23% | |
| 44 | LH | Labcorp Holdings INC | Stock-Healthcare | 0.36% | — | +21.60% | |
| 45 | HAL | Halliburton Co | Stock-Energy | 0.36% | +0.21% | +64.37% | |
| 46 | EME | Emcor Group INC | Stock-Industrials | 0.35% | +0.23% | +117.76% | |
| 47 | QCOM | Qualcomm INC | Stock-Tech | 0.34% | — | +11.05% | |
| 48 | DAL | Delta Air Lines INC | Stock-Industrials | 0.34% | — | +1.33% | |
| 49 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.34% | — | +1.03% | |
| 50 | DUK | Duke Energy CORP | Stock-Utilities | 0.33% | — | +1.56% |
Performance for Q3 2026
+3.3%
Performance Last 4 Quarters
+20.7%
Based on 73% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 4385 | $52.5B | 31 | |
| 2025-12-31 | 4469 | $56.4B | 29 | |
| 2025-09-30 | 3953 | $50.8B | 68 | |
| 2025-06-30 | 4212 | $45.7B | 0 | |
| 2025-03-31 | 3973 | $45.5B | 0 | |
| 2024-12-31 | 4533 | $51.6B | 0 | |
| 2024-09-30 | 4474 | $52.6B | 0 | |
| 2024-06-30 | 4370 | $49.6B | 0 | |
| 2024-03-31 | 4308 | $49.8B | 0 | |
| 2023-12-31 | 4267 | $45.9B | 0 | |
| 2023-09-30 | 4103 | $42.1B | 0 | |
| 2023-06-30 | 4176 | $43.8B | 0 | |
| 2023-03-31 | 4124 | $41.0B | 0 | |
| 2022-12-31 | 3981 | $38.6B | 0 | |
| 2022-09-30 | 3932 | $36.4B | 0 | |
| 2022-06-30 | 3933 | $37.5B | 0 | |
| 2022-03-31 | 4392 | $51.1B | 0 | |
| 2021-12-31 | 4303 | $51.9B | 0 | |
| 2021-09-30 | 4312 | $49.3B | 0 | |
| 2021-06-30 | 4294 | $49.1B | 22 | |
| 2021-03-31 | 4427 | $45.4B | 28 | |
| 2020-12-31 | 4208 | $43.2B | 30 | |
| 2020-09-30 | 3978 | $37.4B | 29 | |
| 2020-06-30 | 3679 | $33.4B | 30 | |
| 2020-03-31 | 3554 | $27.8B | 39 | |
| 2019-12-31 | 3353 | $35.1B | 24 | |
| 2019-09-30 | 3241 | $32.3B | 23 | |
| 2019-06-30 | 3167 | $32.9B | 23 | |
| 2019-03-31 | 3116 | $31.8B | 32 | |
| 2018-12-31 | 2794 | $27.7B | 29 | |
| 2018-09-30 | 2880 | $31.9B | 20 | |
| 2018-06-30 | 2886 | $30.7B | 23 | |
| 2018-03-31 | 2882 | $29.6B | 26 | |
| 2017-12-31 | 2951 | $29.9B | 40 | |
| 2017-09-30 | 4211 | $28.3B | 32 | |
| 2017-06-30 | 3058 | $24.1B | 32 | |
| 2017-03-31 | 3119 | $23.1B | 29 | |
| 2016-12-31 | 3116 | $22.4B | 30 | |
| 2016-09-30 | 3173 | $21.9B | 27 | |
| 2016-06-30 | 3227 | $21.0B | 24 | |
| 2016-03-31 | 3091 | $20.7B | 29 | |
| 2015-12-31 | 3102 | $20.8B | 39 | |
| 2015-09-30 | 2609 | $19.1B | 34 | |
| 2015-06-30 | 2710 | $18.1B | 26 | |
| 2015-03-31 | 2711 | $18.1B | 25 | |
| 2014-12-31 | 2787 | $18.0B | 25 | |
| 2014-09-30 | 2799 | $17.4B | 27 | |
| 2014-06-30 | 2519 | $17.7B | 31 | |
| 2014-03-31 | 2182 | $16.1B | 30 | |
| 2013-12-31 | 2234 | $16.4B | 31 | |
| 2013-09-30 | 2133 | $15.8B | 42 | |
| 2013-06-30 | 2121 | $15.4B | — |
Thrivent Financial for Lutherans's most significant position changes for 2026-03-31: Sold out: First Citizens Bcshs -cl A (FCNCA); Sold out: Fidelity Enhanced Mid Cap Co (FMDE); Sold out: Fidelity Blue Chip Grow ETF (FBCG); Sold out: Dan Wedbush Ai Rev ETF (IVES); Trim: Microsoft CORP (MSFT) — shares -10.22%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | LRCX | Lam Research CORP | +0.5% | +347.98% | Add |
| 2 | GE | General Electric | +0.4% | +410.37% | Add |
| 3 | XOM | Exxon Mobil CORP | +0.3% | +5.28% | Add |
| 4 | ANET | Arista Networks INC | +0.3% | +257.26% | Add |
| 5 | ETN | Eaton Corporation plc | +0.2% | +345.79% | Add |
| 6 | CEG | Constellation Energy | +0.2% | +132.14% | Add |
| 7 | EME | Emcor Group INC | +0.2% | +117.76% | Add |
| 8 | HAL | Halliburton Co | +0.2% | +64.37% | Add |
| 9 | HLT | Hilton Worldwide Holdings In | +0.2% | +185.38% | Add |
| 10 | IBB | Ishares Biotechnology ETF | +0.2% | +246.50% | Add |
| 11 | MS | Morgan Stanley | +0.2% | +40.57% | Add |
| 12 | INTU | Intuit INC | +0.2% | +1621.39% | Add |
| 13 | CHRW | C.h. Robinson Worldwide INC | +0.1% | +8882.76% | Add |
| 14 | LLY | Eli Lilly & Co | -0.1% | +0.82% | Add |
| 15 | AMZN | Amazon.com INC | -0.1% | -0.56% | Trim |
| 16 | GOOGL | Alphabet Inc-cl A | -0.1% | -4.96% | Trim |
| 17 | AVGO | Broadcom INC | -0.1% | -2.78% | Trim |
| 18 | WFC | Wells Fargo & Co | -0.1% | -6.62% | Trim |
| 19 | HLI | Houlihan Lokey INC | -0.1% | -50.66% | Trim |
| 20 | CHD | Church & Dwight Co INC | -0.1% | -95.98% | Trim |
| 21 | ADMA | Adma Biologics INC | -0.1% | -95.81% | Trim |
| 22 | OEF | Ishares S&p 100 ETF | -0.1% | -92.05% | Trim |
| 23 | TRMB | Trimble INC | -0.1% | -44.12% | Trim |
| 24 | TSLA | Tesla INC | -0.1% | -2.17% | Trim |
| 25 | NOW | Servicenow INC | -0.1% | -8.44% | Trim |
| 26 | DOCU | Docusign INC | -0.1% | -96.13% | Trim |
| 27 | LDOS | Leidos Holdings INC | -0.1% | -98.48% | Trim |
| 28 | AMP | Ameriprise Financial INC | -0.2% | -48.88% | Trim |
| 29 | MU | Micron Technology INC | -0.2% | -68.35% | Trim |
| 30 | STE | STERIS plc | -0.2% | -60.29% | Trim |
| 31 | TFX | Teleflex INC | -0.2% | -96.19% | Trim |
| 32 | EXPD | Expeditors Intl Wash INC | -0.2% | -99.13% | Trim |
| 33 | SNY | Sanofi-adr | -0.2% | -99.11% | Trim |
| 34 | DYNF | Ishrs US E F R A Etf-usd INC | -0.2% | -49.12% | Trim |
| 35 | META | Meta Platforms Inc-class A | -0.2% | -5.24% | Trim |
| 36 | GRNY | Fundstr Gran Sh US Lrg Cap | -0.2% | -77.53% | Trim |
| 37 | ORCL | Oracle CORP | -0.2% | -55.06% | Trim |
| 38 | GOOG | Alphabet Inc-cl C | -0.2% | -11.46% | Trim |
| 39 | DASH | Doordash INC - A | -0.2% | -89.35% | Trim |
| 40 | AAPL | Apple INC | -0.3% | -9.65% | Trim |
| 41 | APP | Applovin Corp-class A | -0.3% | -93.22% | Trim |
| 42 | V | Visa Inc-class A Shares | -0.4% | -28.56% | Trim |
| 43 | TSME | Thrivent Sml-mdc Eq Etf-us I | -0.4% | -94.26% | Trim |
| 44 | SPOT | Spotify Technology S.A. | -0.5% | -93.55% | Trim |
| 45 | NVDA | Nvidia CORP | -0.5% | -14.05% | Trim |
| 46 | MSFT | Microsoft CORP | -0.9% | -10.22% | Trim |
| 47 | FCNCA | First Citizens Bcshs -cl A | — | EXIT | Sold out |
| 48 | FMDE | Fidelity Enhanced Mid Cap Co | — | EXIT | Sold out |
| 49 | FBCG | Fidelity Blue Chip Grow ETF | — | EXIT | Sold out |
| 50 | IVES | Dan Wedbush Ai Rev ETF | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-01 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-05 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-04 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-26 | Amendment | View on EDGAR |
| 2025-06-30 | 2025-08-11 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-08-26 | Amendment | View on EDGAR |
| 2025-03-31 | 2025-05-13 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-10 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-07 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-13 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-14 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-17 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-08 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-16 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-13 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-16 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-15 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-09-24 | Amendment | View on EDGAR |
| 2021-06-30 | 2021-08-19 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-17 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-16 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-10 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-12 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-15 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-13 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-14 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-13 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-14 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-15 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-15 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-14 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-08 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-14 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-14 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-11 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-12 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-16 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-12 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-12 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-16 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-16 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-14 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-15 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-17 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-12 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-12 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-14 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-13 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-13 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-15 | Amendment | View on EDGAR |
| 2013-06-30 | 2013-08-07 | 13F-HR | View on EDGAR |
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