KLP KAPITALFORVALTNING AS
Long book
$25.49B
Q1 2026
Positions
2154
Top-10 weight
32%
concentration
Last quarter
+14.8%
SPY +14.8%
Turnover
5%
of book per quarter
Strategy in plain words
auto-generated from filingsKLP KAPITALFORVALTNING AS is a mechanically diversified allocator, running a $25.49B US long book across 2154 positions.
The portfolio is moderately concentrated (top 10 ≈ 32% of the book). The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: NVIDIA CORP, APPLE INC, MICROSOFT CORP, AMAZON.COM INC, ALPHABET INC-CL A.
Over the last 6 quarters its long book ran on average 0.1pp per quarter behind the S&P 500, beating the index in 2 of 6 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
Q4 2024
-4.4%
Q1 2025
+10.7%
Q2 2025
+7.8%
Q3 2025
+2.4%
Q4 2025
-4.2%
Q1 2026
+14.8%
Sector allocation
Technology 39%
Financials 12%
Industrials 10%
Consumer discretionary 9%
Healthcare 9%
Services media 6%
Other 4%
Energy 3%
Long book by quarter
What does KLP KAPITALFORVALTNING own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | Technology | 9.8M | $1.71B | 6.7% | +3.1% |
| AAPL APPLE INC | Technology | 6.2M | $1.56B | 6.1% | +5.9% |
| MSFT MICROSOFT CORP | Technology | 2.9M | $1.08B | 4.3% | +3.0% |
| AMZN AMAZON.COM INC | Consumer discretionary | 3.6M | $746.4M | 2.9% | +3.8% |
| GOOGL ALPHABET INC-CL A | Technology | 2.4M | $704.0M | 2.8% | +2.8% |
| GOOG ALPHABET INC-CL C | Technology | 1.9M | $553.7M | 2.2% | +2.8% |
| AVGO BROADCOM INC | Technology | 1.7M | $525.8M | 2.1% | +3.7% |
| META META PLATFORMS INC-CLASS A | Technology | 810.4K | $463.6M | 1.8% | +3.6% |
| TSLA TESLA INC | Industrials | 1.1M | $416.7M | 1.6% | +3.9% |
| JPM JPMORGAN CHASE & CO | Financials | 1.1M | $336.6M | 1.3% | +1.9% |
| XOM EXXON MOBIL CORP | Energy | 1.8M | $305.4M | 1.2% | +2.3% |
| LLY ELI LILLY & CO | Healthcare | 317.9K | $292.4M | 1.1% | +3.1% |
| JNJ JOHNSON & JOHNSON | Healthcare | 1.1M | $266.4M | 1.0% | +2.5% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 524.9K | $251.5M | 1.0% | +3.3% |
| V VISA INC-CLASS A SHARES | Services media | 763.8K | $230.8M | 0.9% | +2.4% |
| WMT WALMART INC | Consumer discretionary | 1.8M | $220.8M | 0.9% | +2.2% |
| MA MASTERCARD INC - A | Services media | 390.8K | $195.3M | 0.8% | +3.2% |
| ABBV ABBVIE INC | Healthcare | 798.4K | $173.6M | 0.7% | +3.1% |
| CVX CHEVRON CORP | Energy | 825.2K | $170.7M | 0.7% | +1.4% |
| NFLX NETFLIX INC | Services media | 1.7M | $167.7M | 0.7% | -3.0% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 164.7K | $164.2M | 0.6% | +3.6% |
| KO COCA-COLA CO/THE | Consumer staples | 2.0M | $155.2M | 0.6% | +12.1% |
| PG PROCTER & GAMBLE CO/THE | Other | 1.1M | $153.9M | 0.6% | +9.4% |
| MRK MERCK & CO. INC. | Healthcare | 1.2M | $144.8M | 0.6% | -6.1% |
| MU MICRON TECHNOLOGY INC | Technology | 423.0K | $143.0M | 0.6% | +4.0% |
| BAC BANK OF AMERICA CORP | Financials | 2.8M | $138.4M | 0.5% | +0.9% |
| AMD ADVANCED MICRO DEVICES | Technology | 653.8K | $133.0M | 0.5% | +5.3% |
| CSCO CISCO SYSTEMS INC | Technology | 1.7M | $130.7M | 0.5% | -6.3% |
| HD HOME DEPOT INC | Consumer discretionary | 389.4K | $128.1M | 0.5% | -0.6% |
| PLTR PALANTIR TECHNOLOGIES INC-A | Technology | 854.5K | $125.0M | 0.5% | -0.9% |
| LRCX LAM RESEARCH CORP | Industrials | 582.3K | $124.5M | 0.5% | -8.8% |
| AMAT APPLIED MATERIALS INC | Technology | 364.1K | $124.5M | 0.5% | +3.1% |
| GS GOLDMAN SACHS GROUP INC | Financials | 135.3K | $114.5M | 0.4% | +1.7% |
| T AT&T INC | Communications | 3.9M | $112.8M | 0.4% | +1.6% |
| VZ VERIZON COMMUNICATIONS INC | Communications | 2.1M | $107.5M | 0.4% | -3.1% |
| WFC WELLS FARGO & CO | Financials | 1.3M | $105.2M | 0.4% | +1.5% |
| C CITIGROUP INC | Financials | 898.5K | $101.9M | 0.4% | +1.6% |
| KLAC KLA CORP | Other | 69.1K | $101.8M | 0.4% | +0.1% |
| MCD MCDONALD'S CORP | Consumer discretionary | 327.1K | $101.7M | 0.4% | +5.5% |
| GILD GILEAD SCIENCES INC | Healthcare | 718.4K | $100.1M | 0.4% | -9.2% |
| IBM INTL BUSINESS MACHINES CORP | Technology | 410.4K | $99.5M | 0.4% | +3.2% |
| BMY BRISTOL-MYERS SQUIBB CO | Healthcare | 1.6M | $96.5M | 0.4% | +1.8% |
| UNH UNITEDHEALTH GROUP INC | Financials | 356.5K | $96.5M | 0.4% | +2.8% |
| ORCL ORACLE CORP | Technology | 649.3K | $95.5M | 0.4% | +4.0% |
| GEV GE VERNOVA INC | Industrials | 109.0K | $95.2M | 0.4% | +2.7% |
| GE GENERAL ELECTRIC | Industrials | 328.5K | $93.4M | 0.4% | +1.4% |
| NEE NEXTERA ENERGY INC | Utilities | 995.8K | $92.5M | 0.4% | +4.5% |
| PEP PEPSICO INC | Consumer staples | 590.8K | $91.7M | 0.4% | +7.7% |
| DE DEERE & CO | Industrials | 162.2K | $91.6M | 0.4% | +1.0% |
| LIN LINDE PLC | Materials | 175.7K | $87.1M | 0.3% | -1.4% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 29, 2026 | 2154 | $25.49B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 28, 2026 | 2169 | $25.90B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 23, 2025 | 2171 | $25.23B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 23, 2025 | 2188 | $23.17B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 6, 2025 | 2252 | $20.40B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 11, 2025 | 2288 | $21.11B | canonical | SEC ↗ |
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