KBC Group NV
Long book
$39.87B
Q1 2026
Positions
1855
Top-10 weight
37%
concentration
Last quarter
+17.0%
SPY +14.8%
Turnover
9%
of book per quarter
Strategy in plain words
auto-generated from filingsKBC Group NV is a mechanically diversified allocator, running a $39.87B US long book across 1855 positions.
The portfolio is moderately concentrated (top 10 ≈ 37% of the book). The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: NVIDIA CORP, APPLE INC, MICROSOFT CORP, ALPHABET INC-CL C, AMAZON.COM INC.
Over the last 9 quarters its long book ran on average 0.4pp per quarter behind the S&P 500, beating the index in 3 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
+3.6%
Q2 2024
+4.3%
Q3 2024
+2.0%
Q4 2024
-5.3%
Q1 2025
+11.0%
Q2 2025
+7.5%
Q3 2025
+2.8%
Q4 2025
-6.2%
Q1 2026
+17.0%
Sector allocation
Technology 44%
Financials 12%
Healthcare 10%
Industrials 9%
Consumer discretionary 8%
Services media 5%
Other 4%
Consumer staples 2%
Long book by quarter
What does KBC Group own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | Technology | 19.0M | $3.31B | 8.3% | +12.0% |
| AAPL APPLE INC | Technology | 9.1M | $2.32B | 5.8% | +29.6% |
| MSFT MICROSOFT CORP | Technology | 6.0M | $2.21B | 5.5% | +6.2% |
| GOOG ALPHABET INC-CL C | Technology | 6.8M | $1.96B | 4.9% | -21.8% |
| AMZN AMAZON.COM INC | Consumer discretionary | 6.6M | $1.37B | 3.4% | -13.0% |
| AVGO BROADCOM INC | Technology | 3.9M | $1.19B | 3.0% | -2.3% |
| META META PLATFORMS INC-CLASS A | Technology | 1.5M | $841.4M | 2.1% | -14.5% |
| JPM JPMORGAN CHASE & CO | Financials | 2.3M | $672.1M | 1.7% | -16.2% |
| LLY ELI LILLY & CO | Healthcare | 576.2K | $530.0M | 1.3% | -18.2% |
| TSLA TESLA INC | Industrials | 1.2M | $428.0M | 1.1% | -11.1% |
| BAC BANK OF AMERICA CORP | Financials | 8.3M | $403.3M | 1.0% | -9.5% |
| C CITIGROUP INC | Financials | 3.5M | $397.8M | 1.0% | -8.7% |
| GILD GILEAD SCIENCES INC | Healthcare | 2.7M | $373.5M | 0.9% | -17.4% |
| LRCX LAM RESEARCH CORP | Industrials | 1.6M | $333.4M | 0.8% | +60.1% |
| JNJ JOHNSON & JOHNSON | Healthcare | 1.3M | $310.3M | 0.8% | -44.7% |
| MS MORGAN STANLEY | Financials | 1.8M | $298.6M | 0.7% | +0.2% |
| MU MICRON TECHNOLOGY INC | Technology | 859.7K | $290.4M | 0.7% | -33.2% |
| GOOGL ALPHABET INC-CL A | Technology | 1.0M | $288.4M | 0.7% | -24.4% |
| GS GOLDMAN SACHS GROUP INC | Financials | 328.7K | $278.1M | 0.7% | +11.7% |
| LIN LINDE PLC | Materials | 525.6K | $260.6M | 0.7% | -23.0% |
| BMY BRISTOL-MYERS SQUIBB CO | Healthcare | 4.0M | $243.2M | 0.6% | +1.1% |
| PFE PFIZER INC | Healthcare | 8.5M | $237.9M | 0.6% | -7.9% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 490.5K | $235.1M | 0.6% | +286.5% |
| V VISA INC-CLASS A SHARES | Services media | 776.7K | $234.8M | 0.6% | -41.2% |
| CRM SALESFORCE INC | Technology | 1.2M | $228.1M | 0.6% | +11.5% |
| IBM INTL BUSINESS MACHINES CORP | Technology | 925.7K | $224.4M | 0.6% | +7.6% |
| QCOM QUALCOMM INC | Technology | 1.7M | $223.5M | 0.6% | +30.5% |
| MA MASTERCARD INC - A | Services media | 445.8K | $222.7M | 0.6% | -0.9% |
| AMD ADVANCED MICRO DEVICES | Technology | 1.1M | $221.0M | 0.6% | -9.6% |
| UBER UBER TECHNOLOGIES INC | Services media | 3.0M | $212.4M | 0.5% | -8.1% |
| UNH UNITEDHEALTH GROUP INC | Financials | 783.9K | $212.1M | 0.5% | +32.2% |
| GEV GE VERNOVA INC | Industrials | 227.2K | $198.3M | 0.5% | -2.4% |
| GLW CORNING INC | Industrials | 1.4M | $193.1M | 0.5% | +5.4% |
| COF CAPITAL ONE FINANCIAL CORP | Financials | 1.0M | $191.4M | 0.5% | -2.3% |
| ORCL ORACLE CORP | Technology | 1.3M | $187.6M | 0.5% | -5.6% |
| CAH CARDINAL HEALTH INC | Consumer discretionary | 864.8K | $182.7M | 0.5% | -15.4% |
| ISRG INTUITIVE SURGICAL INC | Healthcare | 385.0K | $177.5M | 0.4% | -8.5% |
| CTVA CORTEVA INC | Consumer staples | 2.1M | $174.4M | 0.4% | +58.8% |
| HCA HCA HEALTHCARE INC | Healthcare | 354.6K | $167.8M | 0.4% | -7.8% |
| KMB KIMBERLY-CLARK CORP | Other | 1.7M | $163.6M | 0.4% | +459.9% |
| APH AMPHENOL CORP-CL A | Technology | 1.3M | $162.7M | 0.4% | +28.0% |
| CAT CATERPILLAR INC | Industrials | 229.3K | $162.4M | 0.4% | +47.7% |
| FERG FERGUSON ENTERPRISES INC | Consumer discretionary | 671.3K | $156.6M | 0.4% | +2.2% |
| MNST MONSTER BEVERAGE CORP | Consumer staples | 2.2M | $156.3M | 0.4% | +77.8% |
| BSX BOSTON SCIENTIFIC CORP | Healthcare | 2.4M | $151.9M | 0.4% | -20.5% |
| CSCO CISCO SYSTEMS INC | Technology | 2.0M | $151.4M | 0.4% | +22.9% |
| CF CF INDUSTRIES HOLDINGS INC | Other | 1.2M | $150.2M | 0.4% | -1.2% |
| PG PROCTER & GAMBLE CO/THE | Other | 1.0M | $150.0M | 0.4% | +5.2% |
| MRK MERCK & CO. INC. | Healthcare | 1.2M | $146.5M | 0.4% | -4.7% |
| ABBV ABBVIE INC | Healthcare | 669.6K | $145.6M | 0.4% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 7, 2026 | 2550 | $39.87B | $K fixed canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 26, 2026 | 2390 | $43.85B | $K fixed canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Jan 20, 2026 | 2361 | $41.70B | $K fixed canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 8, 2025 | 2298 | $37.02B | $K fixed canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 25, 2025 | 2558 | $32.22B | $K fixed canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 22, 2025 | 2514 | $36.29B | $K fixed canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 6, 2024 | 2532 | $33.10B | $K fixed canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 17, 2024 | 2545 | $33.10B | $K fixed canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 8, 2024 | 2479 | $31.48B | $K fixed canonical | SEC ↗ |
Similar funds
VANGUARD CAPITAL MANAGEMENT LLCVANGUARD PORTFOLIO MANAGEMENT LLCPRICE T ROWE ASSOCIATES INC /MD/Bank of New York Mellon CorpLegal & General Group PlcVANGUARD FIDUCIARY TRUST CONuveen, LLCAmundiJANUS HENDERSON GROUP PLCAMERICAN CENTURY COMPANIES INCPRINCIPAL FINANCIAL GROUP INCVanguard Global Advisers, LLC