Gun Holdings of 9 Big Fund Firms
Several large mutual fund companies like BlackRock and State Street have espoused a commitment to investments that benefit all stakeholders --shareholders, employees, suppliers, customers and the communities in which they operate. State Street publishes an annual Corporate Responsibility report highlighting its commitment to environmental, social and governance principles and responsible investing and diversity. BlackRock's CEO Laurence Fink publishes an annual letter to CEOs reminding them about the importance of serving all stakeholders and it lays out its annual Investment Stewardship engagement priorities for the upcoming year. But some of these same companies still operate mutual funds and ETFs that own shares of gun manufacturers and gun retailers, according to a recent report from As You Sow, a not-for-profit firm that analyzes the holdings of more than 5,000 U.S. mutual funds and ETFs using Morningstar data. It updates its analysis monthly. Gun-related stocks do not constitute a large percentage of the fund holdings of large fund groups, according to the research. These funds, however, may prove problematic for some investors -- and their advisors -- given the growing number of mass shootings in the U.S., which totaled 255 through early August, equivalent to more than one mass shooting every day, according to the Gun Violence Archive. Check out the slideshow above to see the number of gunmakers and gun retailer stocks held by some of the largest fund companies, according to the As You Sow analysis. Investors and advisors can also use the group's website to check what gun holdings a particular mutual fund or ETF holds. If their funds hold Walmart shares, they own the largest retailer of guns in the U.S. The other major gun retailers in the U.S. are Big Five Sporting Goods, Dick's Sporting Goods and Sportsman's Warehouse. The major U.S. gunmakers are American Outdoor Brands, National Presto Industries , Oil, Sturm Ruger & Co. and Vista Outdoor. --Related on ThinkAdvisor:
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