PFA Pension, Forsikringsaktieselskab
Long book
$33.24B
Q1 2026
Positions
381
Top-10 weight
35%
concentration
Last quarter
+15.8%
SPY +14.8%
Turnover
7%
of book per quarter
Strategy in plain words
auto-generated from filingsPFA Pension, Forsikringsaktieselskab is an institutional manager, running a $33.24B US long book across 381 positions.
The portfolio is moderately concentrated (top 10 ≈ 35% 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.
Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q4 2025
-5.4%
Q1 2026
+15.8%
Sector allocation
Technology 41%
Financials 12%
Industrials 11%
Consumer discretionary 9%
Healthcare 8%
Services media 6%
Other 4%
Utilities 3%
Long book by quarter
What does PFA Pension, own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | Technology | 14.2M | $2.48B | 7.5% | +1.2% |
| AAPL APPLE INC | Technology | 8.6M | $2.19B | 6.6% | -0.1% |
| MSFT MICROSOFT CORP | Technology | 4.1M | $1.52B | 4.6% | -0.4% |
| AMZN AMAZON.COM INC | Consumer discretionary | 5.4M | $1.12B | 3.4% | +0.7% |
| GOOGL ALPHABET INC-CL A | Technology | 3.5M | $1.00B | 3.0% | 0.0% |
| AVGO BROADCOM INC | Technology | 2.7M | $829.0M | 2.5% | +1.3% |
| GOOG ALPHABET INC-CL C | Technology | 2.8M | $794.8M | 2.4% | +0.2% |
| META META PLATFORMS INC-CLASS A | Technology | 1.2M | $698.4M | 2.1% | -0.1% |
| TSLA TESLA INC | Industrials | 1.6M | $611.8M | 1.8% | 0.0% |
| JPM JPMORGAN CHASE & CO | Financials | 1.5M | $431.9M | 1.3% | +0.1% |
| LLY ELI LILLY & CO | Healthcare | 463.0K | $425.9M | 1.3% | +0.7% |
| JNJ JOHNSON & JOHNSON | Healthcare | 1.5M | $367.5M | 1.1% | +1.0% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 680.0K | $325.8M | 1.0% | -3.1% |
| WMT WALMART INC | Consumer discretionary | 2.5M | $311.6M | 0.9% | 0.0% |
| V VISA INC-CLASS A SHARES | Services media | 980.1K | $296.2M | 0.9% | +0.2% |
| MA MASTERCARD INC - A | Services media | 502.5K | $251.1M | 0.8% | +0.3% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 242.9K | $242.1M | 0.7% | -1.4% |
| ABBV ABBVIE INC | Healthcare | 1.1M | $238.1M | 0.7% | +3.9% |
| NFLX NETFLIX INC | Services media | 2.4M | $228.7M | 0.7% | 0.0% |
| MU MICRON TECHNOLOGY INC | Technology | 625.0K | $211.1M | 0.6% | -1.0% |
| LRCX LAM RESEARCH CORP | Industrials | 982.0K | $209.8M | 0.6% | -1.2% |
| CSCO CISCO SYSTEMS INC | Technology | 2.7M | $206.8M | 0.6% | -6.3% |
| AMD ADVANCED MICRO DEVICES | Technology | 976.1K | $198.6M | 0.6% | -2.6% |
| LIN LINDE PLC | Materials | 396.9K | $196.7M | 0.6% | -0.1% |
| PG PROCTER & GAMBLE CO/THE | Other | 1.3M | $190.8M | 0.6% | -6.2% |
| BAC BANK OF AMERICA CORP | Financials | 3.9M | $188.8M | 0.6% | 0.0% |
| GE GENERAL ELECTRIC | Industrials | 650.3K | $184.5M | 0.6% | -0.1% |
| KO COCA-COLA CO/THE | Consumer staples | 2.4M | $180.5M | 0.5% | -7.2% |
| PLTR PALANTIR TECHNOLOGIES INC-A | Technology | 1.2M | $179.6M | 0.5% | -0.1% |
| MRK MERCK & CO. INC. | Healthcare | 1.5M | $176.6M | 0.5% | -3.5% |
| AMAT APPLIED MATERIALS INC | Technology | 491.5K | $168.0M | 0.5% | +5.6% |
| HD HOME DEPOT INC | Consumer discretionary | 497.7K | $163.7M | 0.5% | 0.0% |
| GS GOLDMAN SACHS GROUP INC | Financials | 190.0K | $160.7M | 0.5% | -0.1% |
| BKR BAKER HUGHES CO | Industrials | 2.6M | $157.5M | 0.5% | -0.1% |
| T AT&T INC | Communications | 5.3M | $153.5M | 0.5% | +4.2% |
| VZ VERIZON COMMUNICATIONS INC | Communications | 3.0M | $152.4M | 0.5% | +4.5% |
| WFC WELLS FARGO & CO | Financials | 1.8M | $146.5M | 0.4% | 0.0% |
| ORCL ORACLE CORP | Technology | 982.2K | $144.5M | 0.4% | +6.2% |
| GEV GE VERNOVA INC | Industrials | 164.7K | $143.8M | 0.4% | +12.0% |
| IBM INTL BUSINESS MACHINES CORP | Technology | 585.0K | $141.8M | 0.4% | 0.0% |
| KLAC KLA CORP | Other | 95.5K | $140.6M | 0.4% | -0.8% |
| ED CONSOLIDATED EDISON INC | Utilities | 1.2M | $139.9M | 0.4% | +8.3% |
| C CITIGROUP INC | Financials | 1.2M | $137.0M | 0.4% | 0.0% |
| HAL HALLIBURTON CO | Energy | 3.4M | $132.9M | 0.4% | -0.1% |
| DIS WALT DISNEY CO/THE | Services media | 1.4M | $131.8M | 0.4% | 0.0% |
| AXP AMERICAN EXPRESS CO | Financials | 433.7K | $131.2M | 0.4% | -2.9% |
| EXC EXELON CORP | Utilities | 2.7M | $130.5M | 0.4% | -2.3% |
| PEP PEPSICO INC | Consumer staples | 825.7K | $128.2M | 0.4% | +0.6% |
| UNH UNITEDHEALTH GROUP INC | Financials | 472.7K | $127.9M | 0.4% | -0.1% |
| ATO ATMOS ENERGY CORP | Utilities | 668.0K | $123.4M | 0.4% | +4.5% |
13F filing history
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