CIK: 0001600177
Total reported value
$13.2B
Reporting period: 2026-03-31 · Number of holdings: 70
Employees Provident Fund Board disclosed 70 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $13.2B and a quarterly turnover rate of 22.8%.
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Employees Provident Fund Board's disclosed holdings carry a Herfindahl concentration index of 0.037 — mathematically equivalent to about 27 equally-sized positions, well below its 70 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.28), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Add PWR
+484.0% $206.0M
Add AEM
+71.5% $191.1M
Add LLY
+65.4% $141.5M
Add AMAT
+16.6% $104.1M
Trim B
-44.9% -$107.6M
Add AAPL
+33.7% $89.5M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | MSFT | Microsoft CORP | Stock-Tech | 9.17% | — | +31.11% | |
| 2 | NVDA | Nvidia CORP | Stock-Tech | 8.90% | -0.24% | +1.34% | |
| 3 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 5.52% | -0.21% | +1.92% | |
| 4 | META | Meta Platforms Inc-class A | Stock-Comm Services | 5.35% | -0.59% | +0.99% | |
| 5 | MU | Micron Technology INC | Stock-Tech | 4.54% | +0.72% | -2.33% | |
| 6 | LLY | Eli Lilly & Co | Stock-Healthcare | 3.64% | +1.14% | +65.37% | |
| 7 | AVGO | Broadcom INC | Stock-Tech | 3.51% | -0.38% | -1.79% | |
| 8 | AAPL | Apple INC | Stock-Tech | 3.40% | +0.75% | +33.74% | |
| 9 | AMZN | Amazon.com INC | Stock-Consumer Disc | 3.30% | +0.25% | +16.67% | |
| 10 | AEM | Agnico Eagle Mines LTD | Stock-Materials | 2.83% | +1.48% | +71.45% | |
| 11 | JPM | Jpmorgan Chase & Co | Stock-Financials | 2.51% | -0.30% | -4.71% | |
| 12 | PANW | Palo Alto Networks INC | Stock-Tech | 2.28% | +0.21% | +23.29% | |
| 13 | AMAT | Applied Materials INC | Stock-Tech | 2.21% | +0.82% | +16.60% | |
| 14 | NOW | Servicenow INC | Stock-Tech | 2.14% | -0.59% | +11.53% | |
| 15 | BAC | Bank Of America CORP | Stock-Financials | 2.14% | +0.30% | +27.14% | |
| 16 | MA | Mastercard INC - A | Stock-Financials | 2.01% | +0.18% | +22.39% | |
| 17 | PWR | Quanta Services INC | Stock-Industrials | 1.79% | +1.56% | +483.97% | |
| 18 | DDOG | Datadog INC - Class A | Stock-Tech | 1.78% | -0.07% | +8.11% | |
| 19 | UBER | Uber Technologies INC | Stock-Industrials | 1.76% | -0.19% | — | |
| 20 | NEE | Nextera Energy INC | Stock-Utilities | 1.75% | -0.02% | -16.67% | |
| 21 | CRWD | Crowdstrike Holdings INC - A | Stock-Tech | 1.74% | +0.15% | +27.94% | |
| 22 | MRK | Merck & Co. INC. | Stock-Healthcare | 1.72% | -0.15% | -21.53% | |
| 23 | ARM | Arm Holdings Plc-adr | Stock-Tech | 1.60% | +0.72% | +27.27% | |
| 24 | ISRG | Intuitive Surgical INC | Stock-Healthcare | 1.49% | -0.34% | -2.62% | |
| 25 | SNPS | Synopsys INC | Stock-Tech | 1.48% | -0.74% | -23.28% | |
| 26 | ZTS | Zoetis INC | Stock-Healthcare | 1.37% | -0.05% | — | |
| 27 | XOM | Exxon Mobil CORP | Stock-Energy | 1.30% | -0.46% | -48.97% | |
| 28 | DIS | Walt Disney Co/the | Stock-Comm Services | 1.26% | -0.19% | — | |
| 29 | CRM | Salesforce INC | Stock-Tech | 1.26% | -0.48% | — | |
| 30 | NKE | Nike INC -cl B | Stock-Consumer Disc | 1.17% | -0.20% | — | |
| 31 | BMY | Bristol-myers Squibb Co | Stock-Healthcare | 1.15% | +0.33% | +21.86% | |
| 32 | MDB | Mongodb INC | Stock-Tech | 1.08% | -0.41% | +20.64% | |
| 33 | DXCM | Dexcom INC | Stock-Healthcare | 1.04% | -0.03% | — | |
| 34 | SLB | Slb LTD | Stock-Energy | 1.01% | +0.22% | -6.81% | |
| 35 | BSX | Boston Scientific CORP | Stock-Healthcare | 1.01% | -0.49% | — | |
| 36 | BIIB | Biogen INC | Stock-Healthcare | 0.98% | — | — | |
| 37 | B | Barrick Mining CORP | Stock-Materials | 0.86% | -0.77% | -44.90% | |
| 38 | WDC | Western Digital CORP | Stock-Tech | 0.83% | +0.83% | NEW | |
| 39 | RMD | Resmed INC | Stock-Healthcare | 0.73% | +0.10% | +20.05% | |
| 40 | UNH | Unitedhealth Group INC | Stock-Healthcare | 0.61% | -0.12% | — | |
| 41 | NFLX | Netflix INC | Stock-Comm Services | 0.54% | +0.54% | NEW | |
| 42 | DG | Dollar General CORP | Stock-Consumer Staples | 0.53% | -0.04% | — | |
| 43 | TJX | Tjx Companies INC | Stock-Consumer Disc | 0.37% | — | -0.91% | |
| 44 | GILD | Gilead Sciences INC | Stock-Healthcare | 0.36% | -0.06% | -25.75% | |
| 45 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.34% | — | -24.51% | |
| 46 | CMI | Cummins INC | Stock-Industrials | 0.33% | — | +3.50% | |
| 47 | SYK | Stryker CORP | Stock-Healthcare | 0.28% | — | — | |
| 48 | ABBV | Abbvie INC | Stock-Healthcare | 0.24% | — | +0.09% | |
| 49 | DOV | Dover CORP | Stock-Industrials | 0.22% | -0.13% | -41.44% | |
| 50 | FSLR | First Solar INC | Stock-Tech | 0.22% | — | +49.90% |
Performance for Q3 2026
+7.5%
Performance Last 4 Quarters
+36.4%
Based on 76% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 70 | $13.2B | 23 | |
| 2025-12-31 | 73 | $13.6B | 20 | |
| 2025-09-30 | 77 | $12.5B | 24 | |
| 2025-06-30 | 86 | $11.6B | 43 | |
| 2025-03-31 | 86 | $8.8B | 25 | |
| 2024-12-31 | 82 | $8.1B | 31 | |
| 2024-09-30 | 83 | $7.3B | 36 | |
| 2024-06-30 | 84 | $6.2B | 26 | |
| 2024-03-31 | 78 | $5.7B | 35 | |
| 2023-12-31 | 75 | $5.1B | 36 | |
| 2023-09-30 | 79 | $4.4B | 41 | |
| 2023-06-30 | 85 | $4.2B | 30 | |
| 2023-03-31 | 94 | $3.9B | 45 | |
| 2022-12-31 | 84 | $3.5B | 36 | |
| 2022-09-30 | 78 | $3.4B | 39 | |
| 2022-06-30 | 99 | $4.4B | 37 | |
| 2022-03-31 | 105 | $5.8B | 31 | |
| 2021-12-31 | 92 | $6.1B | 23 | |
| 2021-09-30 | 66 | $6.1B | 28 | |
| 2021-06-30 | 59 | $6.1B | 17 | |
| 2021-03-31 | 64 | $5.8B | 32 | |
| 2020-12-31 | 68 | $5.9B | 25 | |
| 2020-09-30 | 63 | $4.8B | 22 | |
| 2020-06-30 | 64 | $4.4B | 35 | |
| 2020-03-31 | 61 | $3.7B | 46 | |
| 2019-12-31 | 53 | $4.7B | 36 | |
| 2019-09-30 | 58 | $3.7B | 27 | |
| 2019-06-30 | 52 | $3.8B | 35 | |
| 2019-03-31 | 49 | $3.6B | 31 | |
| 2018-12-31 | 62 | $3.6B | 41 | |
| 2018-09-30 | 52 | $3.6B | 18 | |
| 2018-06-30 | 49 | $3.7B | 27 | |
| 2018-03-31 | 47 | $3.4B | 29 | |
| 2017-12-31 | 48 | $3.7B | 22 | |
| 2017-09-30 | 45 | $3.5B | 33 | |
| 2017-06-30 | 50 | $3.5B | 34 | |
| 2017-03-31 | 52 | $3.4B | 38 | |
| 2016-12-31 | 41 | $2.9B | 19 | |
| 2016-09-30 | 39 | $2.8B | 24 | |
| 2016-06-30 | 33 | $2.3B | 18 | |
| 2016-03-31 | 36 | $2.3B | 28 | |
| 2015-12-31 | 45 | $2.9B | 24 | |
| 2015-09-30 | 46 | $2.6B | 30 | |
| 2015-06-30 | 49 | $2.9B | 22 | |
| 2015-03-31 | 49 | $2.9B | 30 | |
| 2014-12-31 | 54 | $3.3B | 21 | |
| 2014-09-30 | 54 | $3.2B | 11 | |
| 2014-06-30 | 56 | $3.2B | 23 | |
| 2014-03-31 | 52 | $3.1B | 11 | |
| 2013-12-31 | 54 | $3.3B | 19 | |
| 2013-09-30 | 48 | $2.8B | 30 | |
| 2013-06-30 | 48 | $2.5B | 23 |
Employees Provident Fund Board's most significant position changes for 2026-03-31: Sold out: Moody's CORP (MCO); Sold out: Adobe INC (ADBE); Sold out: NXP Semiconductors N.V. (NXPI); New buy: Western Digital CORP (WDC); New buy: Netflix INC (NFLX).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | PWR | Quanta Services INC | +1.6% | +483.97% | Add |
| 2 | AEM | Agnico Eagle Mines LTD | +1.5% | +71.45% | Add |
| 3 | LLY | Eli Lilly & Co | +1.1% | +65.37% | Add |
| 4 | AMAT | Applied Materials INC | +0.8% | +16.60% | Add |
| 5 | AAPL | Apple INC | +0.8% | +33.74% | Add |
| 6 | ARM | Arm Holdings Plc-adr | +0.7% | +27.27% | Add |
| 7 | MU | Micron Technology INC | +0.7% | -2.33% | Trim |
| 8 | BMY | Bristol-myers Squibb Co | +0.3% | +21.86% | Add |
| 9 | BAC | Bank Of America CORP | +0.3% | +27.14% | Add |
| 10 | AMZN | Amazon.com INC | +0.3% | +16.67% | Add |
| 11 | SLB | Slb LTD | +0.2% | -6.81% | Trim |
| 12 | PANW | Palo Alto Networks INC | +0.2% | +23.29% | Add |
| 13 | MA | Mastercard INC - A | +0.2% | +22.39% | Add |
| 14 | CRWD | Crowdstrike Holdings INC - A | +0.2% | +27.94% | Add |
| 15 | RMD | Resmed INC | +0.1% | +20.05% | Add |
| 16 | CSL | Carlisle Cos INC | +0.1% | +48.04% | Add |
| 17 | TT | Trane Technologies plc | +0.1% | +37.14% | Add |
| 18 | NEE | Nextera Energy INC | 0% | -16.67% | Trim |
| 19 | DXCM | Dexcom INC | 0% | — | Unchanged |
| 20 | DG | Dollar General CORP | 0% | — | Unchanged |
| 21 | ZTS | Zoetis INC | -0.1% | — | Unchanged |
| 22 | GILD | Gilead Sciences INC | -0.1% | -25.75% | Trim |
| 23 | DDOG | Datadog INC - Class A | -0.1% | +8.11% | Add |
| 24 | UNH | Unitedhealth Group INC | -0.1% | — | Unchanged |
| 25 | DOV | Dover CORP | -0.1% | -41.44% | Trim |
| 26 | MRK | Merck & Co. INC. | -0.2% | -21.53% | Trim |
| 27 | UBER | Uber Technologies INC | -0.2% | — | Unchanged |
| 28 | DIS | Walt Disney Co/the | -0.2% | — | Unchanged |
| 29 | NKE | Nike INC -cl B | -0.2% | — | Unchanged |
| 30 | GOOGL | Alphabet Inc-cl A | -0.2% | +1.92% | Add |
| 31 | NVDA | Nvidia CORP | -0.2% | +1.34% | Add |
| 32 | JPM | Jpmorgan Chase & Co | -0.3% | -4.71% | Trim |
| 33 | ISRG | Intuitive Surgical INC | -0.3% | -2.62% | Trim |
| 34 | AVGO | Broadcom INC | -0.4% | -1.79% | Trim |
| 35 | MDB | Mongodb INC | -0.4% | +20.64% | Add |
| 36 | XOM | Exxon Mobil CORP | -0.5% | -48.97% | Trim |
| 37 | CRM | Salesforce INC | -0.5% | — | Unchanged |
| 38 | BSX | Boston Scientific CORP | -0.5% | — | Unchanged |
| 39 | META | Meta Platforms Inc-class A | -0.6% | +0.99% | Add |
| 40 | NOW | Servicenow INC | -0.6% | +11.53% | Add |
| 41 | SNPS | Synopsys INC | -0.7% | -23.28% | Trim |
| 42 | B | Barrick Mining CORP | -0.8% | -44.90% | Trim |
| 43 | MCO | Moody's CORP | — | EXIT | Sold out |
| 44 | ADBE | Adobe INC | — | EXIT | Sold out |
| 45 | NXPI | NXP Semiconductors N.V. | — | EXIT | Sold out |
| 46 | WDC | Western Digital CORP | — | NEW | New buy |
| 47 | NFLX | Netflix INC | — | NEW | New buy |
| 48 | OIH | Vaneck Oil Services ETF | — | EXIT | Sold out |
| 49 | FIX | Comfort Systems USA INC | — | NEW | New buy |
| 50 | GWW | Ww Grainger INC | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-12 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-03-03 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2026-03-17 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2026-03-17 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2026-03-17 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2026-03-17 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2026-03-17 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2026-03-18 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2026-03-18 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2026-03-18 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2026-03-18 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2026-03-31 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2026-03-18 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2026-03-18 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2026-03-18 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2026-03-18 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2026-03-18 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2026-03-18 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2026-03-18 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2026-03-18 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2026-03-18 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2026-03-18 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2026-03-20 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2026-03-31 | Amendment | View on EDGAR |
| 2020-06-30 | 2026-03-18 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2026-03-20 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2026-03-18 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2026-03-18 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2026-03-18 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2026-03-18 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2026-03-18 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2026-03-18 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2026-03-18 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2026-03-18 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2026-03-18 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2026-03-18 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2026-03-18 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2026-03-18 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2026-04-01 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2026-04-01 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2026-04-01 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2026-04-01 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2026-04-03 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2026-04-03 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2026-04-03 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2026-04-03 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2026-04-07 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2026-04-07 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2026-04-07 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2026-04-07 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2026-04-15 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2026-04-15 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2026-04-15 | 13F-HR | View on EDGAR |
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