Employees Provident Fund Board
Long book
$13.23B
Q1 2026
Positions
70
Top-10 weight
50%
concentration
Last quarter
+26.2%
SPY +14.8%
Turnover
12%
of book per quarter
Strategy in plain words
auto-generated from filingsEmployees Provident Fund Board is a diversified fundamental manager, running a $13.23B US long book across 70 positions.
The portfolio is concentrated: the top 10 names carry 50% of the portfolio. Turnover is modest: positions are typically held for years. Current anchor positions: MICROSOFT CORP, NVIDIA CORP, ALPHABET INC-CL A, META PLATFORMS INC-CLASS A, MICRON TECHNOLOGY INC.
Over the last 9 quarters its long book ran on average 1pp per quarter ahead of the S&P 500, beating the index in 3 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+3.8%
Q2 2024
+2.3%
Q3 2024
+1.7%
Q4 2024
-7.8%
Q1 2025
+18.2%
Q2 2025
+7.1%
Q3 2025
+5.5%
Q4 2025
-7.6%
Q1 2026
+26.2%
Sector allocation
Technology 57%
Healthcare 15%
Services media 6%
Financials 6%
Consumer discretionary 5%
Materials 4%
Industrials 3%
Energy 2%
Long book by quarter
What does Employees Provident own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| MSFT MICROSOFT CORP | Technology | 3.3M | $1.21B | 9.2% | +31.1% |
| NVDA NVIDIA CORP | Technology | 6.8M | $1.18B | 8.9% | +1.3% |
| GOOGL ALPHABET INC-CL A | Technology | 2.5M | $730.5M | 5.5% | +1.9% |
| META META PLATFORMS INC-CLASS A | Technology | 1.2M | $707.5M | 5.3% | +1.0% |
| MU MICRON TECHNOLOGY INC | Technology | 1.8M | $600.8M | 4.5% | -2.3% |
| LLY ELI LILLY & CO | Healthcare | 524.4K | $482.3M | 3.6% | +65.4% |
| AVGO BROADCOM INC | Technology | 1.5M | $464.4M | 3.5% | -1.8% |
| AAPL APPLE INC | Technology | 1.8M | $449.6M | 3.4% | +33.7% |
| AMZN AMAZON.COM INC | Consumer discretionary | 2.1M | $437.4M | 3.3% | +16.7% |
| AEM AGNICO EAGLE MINES LTD | Materials | 1.9M | $374.5M | 2.8% | +71.5% |
| JPM JPMORGAN CHASE & CO | Financials | 1.1M | $332.4M | 2.5% | -4.7% |
| PANW PALO ALTO NETWORKS INC | Technology | 1.9M | $302.1M | 2.3% | +23.3% |
| AMAT APPLIED MATERIALS INC | Technology | 857.4K | $293.0M | 2.2% | +16.6% |
| NOW SERVICENOW INC | Technology | 2.7M | $282.9M | 2.1% | +11.5% |
| BAC BANK OF AMERICA CORP | Financials | 5.8M | $282.8M | 2.1% | +27.1% |
| MA MASTERCARD INC - A | Services media | 533.0K | $266.3M | 2.0% | +22.4% |
| PWR QUANTA SERVICES INC | Industrials | 432.1K | $237.3M | 1.8% | +484.0% |
| DDOG DATADOG INC - CLASS A | Technology | 2.0M | $236.1M | 1.8% | +8.1% |
| UBER UBER TECHNOLOGIES INC | Services media | 3.2M | $233.5M | 1.8% | Held |
| NEE NEXTERA ENERGY INC | Utilities | 2.5M | $232.2M | 1.8% | -16.7% |
| CRWD CROWDSTRIKE HOLDINGS INC - A | Technology | 590.5K | $230.5M | 1.7% | +27.9% |
| MRK MERCK & CO. INC. | Healthcare | 1.9M | $228.0M | 1.7% | -21.5% |
| ISRG INTUITIVE SURGICAL INC | Healthcare | 427.0K | $196.9M | 1.5% | -2.6% |
| SNPS SYNOPSYS INC | Technology | 494.3K | $196.0M | 1.5% | -23.3% |
| ZTS ZOETIS INC | Healthcare | 1.5M | $181.7M | 1.4% | Held |
| XOM EXXON MOBIL CORP | Energy | 1.0M | $171.9M | 1.3% | -49.0% |
| DIS WALT DISNEY CO/THE | Services media | 1.7M | $167.2M | 1.3% | Held |
| CRM SALESFORCE INC | Technology | 894.1K | $166.9M | 1.3% | Held |
| NKE NIKE INC -CL B | Other | 2.9M | $154.3M | 1.2% | Held |
| BMY BRISTOL-MYERS SQUIBB CO | Healthcare | 2.5M | $152.2M | 1.1% | +21.9% |
| MDB MONGODB INC | Technology | 584.6K | $143.1M | 1.1% | +20.6% |
| DXCM DEXCOM INC | Healthcare | 2.2M | $137.5M | 1.0% | Held |
| SLB SLB LTD | Energy | 2.6M | $134.0M | 1.0% | -6.8% |
| BSX BOSTON SCIENTIFIC CORP | Healthcare | 2.1M | $133.9M | 1.0% | Held |
| BIIB BIOGEN INC | Healthcare | 704.2K | $129.1M | 1.0% | Held |
| B BARRICK MINING CORP | Materials | 2.8M | $114.0M | 0.9% | -44.9% |
| WDC WESTERN DIGITAL CORP | Technology | 405.2K | $109.6M | 0.8% | New |
| RMD RESMED INC | Healthcare | 429.9K | $96.5M | 0.7% | +20.0% |
| UNH UNITEDHEALTH GROUP INC | Financials | 300.0K | $81.2M | 0.6% | Held |
| NFLX NETFLIX INC | Services media | 750.0K | $72.1M | 0.5% | New |
| DG DOLLAR GENERAL CORP | Consumer discretionary | 585.9K | $69.6M | 0.5% | Held |
| TJX TJX COMPANIES INC | Consumer discretionary | 303.2K | $48.4M | 0.4% | -0.9% |
| GILD GILEAD SCIENCES INC | Healthcare | 346.0K | $48.2M | 0.4% | -25.8% |
| JNJ JOHNSON & JOHNSON | Healthcare | 182.4K | $44.6M | 0.3% | -24.5% |
| CMI CUMMINS INC | Industrials | 80.5K | $43.3M | 0.3% | +3.5% |
| SYK STRYKER CORP | Healthcare | 113.6K | $37.3M | 0.3% | Held |
| ABBV ABBVIE INC | Healthcare | 145.1K | $31.6M | 0.2% | +0.1% |
| DOV DOVER CORP | Industrials | 142.0K | $29.6M | 0.2% | -41.4% |
| FSLR FIRST SOLAR INC | Technology | 146.5K | $28.9M | 0.2% | +49.9% |
| TT TRANE TECHNOLOGIES PLC | Technology | 67.2K | $28.0M | 0.2% | +37.1% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 12, 2026 | 70 | $13.23B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Mar 3, 2026 | 73 | $13.61B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Mar 17, 2026 | 77 | $12.47B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Mar 17, 2026 | 86 | $11.57B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Mar 17, 2026 | 86 | $8.81B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Mar 17, 2026 | 82 | $8.05B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Mar 17, 2026 | 83 | $7.31B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Mar 18, 2026 | 84 | $6.25B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Mar 18, 2026 | 78 | $5.70B | canonical | SEC ↗ |
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