BO
Board of the Pension Protection Fund — 13F Portfolio Changes & Top Buys (Q2 2026)
Board of the Pension Protection FundCIK: 0002041021
Diversified strategyQuality / disciplined sizingLong-term holder
Total reported value
$105.4M
Reporting period: 2026-06-30 · Number of holdings: 110
Board of the Pension Protection Fund disclosed 110 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $105.4M and a quarterly turnover rate of 0.0%.
Browse other institutions with $100M to $1B AUMBrowse other institutions starting with "B"
Personality snowflake
- Concentration
- 5.36
- Portfolio Stability
- 0
- Momentum
- 50
- Sector conviction
- 35.73
- Diversification
- 100
- Sizing Uniformity
- 93.08
Board of the Pension Protection Fund's disclosed holdings carry a Herfindahl concentration index of 0.013 — mathematically equivalent to about 75 equally-sized positions, close to its 110 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.69), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govSold out DELL
New buy BALL
New buy MGA
Sold out CLS
Sold out OTEX
Trim TWLO
-98.7% -$1.9M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | BALL | Ball CORP | Stock-Consumer Disc | 2.07% | +2.07% | NEW | |
| 2 | MGA | Magna International Inc | Stock-Consumer Disc | 1.96% | +1.96% | NEW | |
| 3 | INCY | Incyte CORP | Stock-Healthcare | 1.89% | +0.96% | +62.96% | |
| 4 | FLEX | Flex Ltd. | Stock-Tech | 1.89% | +0.27% | -54.28% | |
| 5 | HPE | Hewlett Packard Enterprise | Stock-Tech | 1.83% | +0.02% | -48.25% | |
| 6 | CFG | Citizens Financial Group | Stock-Financials | 1.81% | +1.75% | +2372.73% | |
| 7 | GIB | Cgi Inc | Stock-Tech | 1.79% | -0.01% | +7.29% | |
| 8 | CNC | Centene CORP | Stock-Healthcare | 1.77% | +1.50% | +225.84% | |
| 9 | KEY | Keycorp | Stock-Financials | 1.74% | +1.68% | +2381.25% | |
| 10 | COO | Cooper Cos Inc/the | Stock-Healthcare | 1.73% | +1.73% | NEW | |
| 11 | L | Loews CORP | Stock-Financials | 1.72% | +0.24% | +5.96% | |
| 12 | LUV | Southwest Airlines Co | Stock-Industrials | 1.71% | +1.67% | +3090.91% | |
| 13 | EIX | Edison International | Stock-Utilities | 1.70% | -0.08% | -9.06% | |
| 14 | EQH | Equitable Holdings Inc | Stock-Financials | 1.70% | +0.52% | +17.92% | |
| 15 | UAL | United Airlines Holdings Inc | Stock-Industrials | 1.66% | +0.47% | -8.51% | |
| 16 | SYF | Synchrony Financial | Stock-Financials | 1.66% | +0.24% | +1.32% | |
| 17 | IP | International Paper Co | Stock-Consumer Disc | 1.65% | +1.65% | NEW | |
| 18 | WY | Weyerhaeuser Co | Stock-Real Estate | 1.65% | +1.65% | NEW | |
| 19 | TXT | Textron Inc | Stock-Industrials | 1.58% | +0.27% | +11.66% | |
| 20 | PINS | Pinterest Inc- Class A | Stock-Comm Services | 1.56% | +0.42% | +15.49% | |
| 21 | MCHP | Microchip Technology Inc | Stock-Tech | 1.55% | +1.55% | NEW | |
| 22 | KVUE | Kenvue Inc | Stock-Consumer Staples | 1.55% | +1.55% | NEW | |
| 23 | EXE | Expand Energy CORP | Stock-Energy | 1.54% | +1.54% | NEW | |
| 24 | TSN | Tyson Foods Inc-cl A | Stock-Consumer Staples | 1.53% | +1.53% | NEW | |
| 25 | ✓ | Stock-Other | 1.51% | +1.50% | NEW | ||
| 26 | GPN | Global Payments Inc | Stock-Industrials | 1.49% | -0.03% | -11.84% | |
| 27 | OMC | Omnicom Group | Stock-Comm Services | 1.48% | -0.08% | -4.44% | |
| 28 | HIG | Hartford Insurance Group Inc | Stock-Financials | 1.46% | +0.10% | +6.42% | |
| 29 | DAL | Delta Air Lines Inc | Stock-Industrials | 1.46% | +0.08% | -27.11% | |
| 30 | GEN | Gen Digital Inc | Stock-Tech | 1.45% | +0.17% | -16.80% | |
| 31 | EQT | Eqt CORP | Stock-Energy | 1.44% | +1.44% | NEW | |
| 32 | CINF | Cincinnati Financial CORP | Stock-Financials | 1.42% | +0.06% | -13.83% | |
| 33 | PCG | P G & E CORP | Stock-Utilities | 1.35% | -0.31% | -17.61% | |
| 34 | LVS | Las Vegas Sands CORP | Stock-Consumer Disc | 1.34% | -0.12% | +3.39% | |
| 35 | Z | Zillow Group Inc - C | Stock-Comm Services | 1.30% | +1.30% | NEW | |
| 36 | SSNC | Ss&c Technologies Holdings | Stock-Tech | 1.29% | -0.13% | -3.93% | |
| 37 | FE | Firstenergy CORP | Stock-Utilities | 1.29% | +1.29% | NEW | |
| 38 | HAL | Halliburton Co | Stock-Energy | 1.28% | +1.28% | NEW | |
| 39 | FOX | Fox CORP - Class B | Stock-Comm Services | 1.27% | — | +9.20% | |
| 40 | FOXA | Fox CORP - Class A | Stock-Comm Services | 1.26% | +0.01% | +9.01% | |
| 41 | LDOS | Leidos Holdings Inc | Stock-Tech | 1.25% | +0.86% | +374.07% | |
| 42 | GDDY | Godaddy Inc - Class A | Stock-Tech | 1.25% | -0.07% | -10.40% | |
| 43 | HPQ | Hp Inc | Stock-Tech | 1.25% | +0.07% | -10.06% | |
| 44 | DOCU | Docusign Inc | Stock-Tech | 1.24% | -0.29% | -16.19% | |
| 45 | ZG | Zillow Group Inc - A | Stock-Comm Services | 1.23% | +1.23% | NEW | |
| 46 | NWSA | News CORP - Class A | Stock-Comm Services | 1.22% | +0.45% | +54.76% | |
| 47 | RPRX | Royalty Pharma plc | Stock-Healthcare | 1.21% | +0.91% | +235.29% | |
| 48 | LYB | LyondellBasell Industries N.V. | Stock-Materials | 1.20% | +1.20% | NEW | |
| 49 | AIG | American International Group | Stock-Financials | 1.16% | +0.23% | +22.39% | |
| 50 | CMCSA | Comcast Corp-class A | Stock-Comm Services | 1.15% | +0.95% | +558.67% |
1–50 of 110
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Portfolio Performance
Performance for Q3 2026
+6.3%
Performance Last 4 Quarters
+20.6%
- Stdev
- +10.9%
- Beta
- +0.66
- Alpha
- +6.6%
- Max Drawdown
- -4.8%
- Annualized Perf
- +20.3%
- Batting Avg vs S&P
- +55.6%
- Sortino
- +3.56
- Stutzer
- +0.51
- Treynor
- +0.29
- Sterling
- +1.37
- Calmar
- +4.2
- Information Ratio
- +0.01
- Tracking Error
- +7.9%
- Stdev Down
- +5.4%
- Winning Months %
- +83.3%
- Losing Months %
- +16.7%
- Best 12 Months
- +20.6%
- Worst 12 Months
- +13.9%
- Efficiency Ratio
- +0.63
- Sharpe
- +1.76
- Stdev Sectors
- +5.1%
- Skewness
- -0.31
- Kurtosis
- -0.25
- Upside Potential
- +4.94
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
Board of the Pension Protection Fund's most significant position changes for 2026-06-30: Sold out: Dell Technologies -c (DELL); New buy: Ball CORP (BALL); New buy: Magna International Inc (MGA); Sold out: Celestica Inc (CLS); Sold out: Open Text CORP (OTEX).
Showing top 200 changes by size (of 201 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | BALL | Ball CORP | +2.1% | NEW | New buy |
| 2 | MGA | Magna International Inc | +2% | NEW | New buy |
| 3 | CFG | Citizens Financial Group | +1.8% | +2372.73% | Add |
| 4 | COO | Cooper Cos Inc/the | +1.7% | NEW | New buy |
| 5 | KEY | Keycorp | +1.7% | +2381.25% | Add |
| 6 | LUV | Southwest Airlines Co | +1.7% | +3090.91% | Add |
| 7 | IP | International Paper Co | +1.7% | NEW | New buy |
| 8 | WY | Weyerhaeuser Co | +1.7% | NEW | New buy |
| 9 | MCHP | Microchip Technology Inc | +1.6% | NEW | New buy |
| 10 | KVUE | Kenvue Inc | +1.6% | NEW | New buy |
| 11 | EXE | Expand Energy CORP | +1.5% | NEW | New buy |
| 12 | TSN | Tyson Foods Inc-cl A | +1.5% | NEW | New buy |
| 13 | ✓ | +1.5% | NEW | New buy | |
| 14 | CNC | Centene CORP | +1.5% | +225.84% | Add |
| 15 | EQT | Eqt CORP | +1.4% | NEW | New buy |
| 16 | Z | Zillow Group Inc - C | +1.3% | NEW | New buy |
| 17 | FE | Firstenergy CORP | +1.3% | NEW | New buy |
| 18 | HAL | Halliburton Co | +1.3% | NEW | New buy |
| 19 | ZG | Zillow Group Inc - A | +1.2% | NEW | New buy |
| 20 | LYB | LyondellBasell Industries N.V. | +1.2% | NEW | New buy |
| 21 | DOW | Dow Inc | +1.1% | NEW | New buy |
| 22 | F | Ford Motor Co | +1% | NEW | New buy |
| 23 | MKC | Mccormick & Co-non Vtg Shrs | +1% | NEW | New buy |
| 24 | INCY | Incyte CORP | +1% | +62.96% | Add |
| 25 | CMCSA | Comcast Corp-class A | +1% | +558.67% | Add |
| 26 | RPRX | Royalty Pharma plc | +0.9% | +235.29% | Add |
| 27 | ALL | Allstate CORP | +0.9% | NEW | New buy |
| 28 | LDOS | Leidos Holdings Inc | +0.9% | +374.07% | Add |
| 29 | ACGL | Arch Capital Group Ltd. | +0.8% | NEW | New buy |
| 30 | DG | Dollar General CORP | +0.8% | NEW | New buy |
| 31 | HCA | Hca Healthcare Inc | +0.7% | +340.00% | Add |
| 32 | FISV | Fiserv Inc | +0.7% | +829.41% | Add |
| 33 | CSGP | Costar Group Inc | +0.6% | NEW | New buy |
| 34 | KR | Kroger Co | +0.6% | NEW | New buy |
| 35 | FIS | Fidelity National Info Serv | +0.6% | +169.16% | Add |
| 36 | DGX | Quest Diagnostics Inc | +0.6% | +1400.00% | Add |
| 37 | DVN | Devon Energy CORP | +0.6% | NEW | New buy |
| 38 | CAH | Cardinal Health Inc | +0.5% | +2400.00% | Add |
| 39 | STZ | Constellation Brands Inc-a | +0.5% | NEW | New buy |
| 40 | KHC | Kraft Heinz Co/the | +0.5% | +2300.00% | Add |
| 41 | EQH | Equitable Holdings Inc | +0.5% | +17.92% | Add |
| 42 | T | At&t Inc | +0.5% | NEW | New buy |
| 43 | UAL | United Airlines Holdings Inc | +0.5% | -8.51% | Trim |
| 44 | NWSA | News CORP - Class A | +0.5% | +54.76% | Add |
| 45 | BCE | Bce Inc | +0.4% | NEW | New buy |
| 46 | PINS | Pinterest Inc- Class A | +0.4% | +15.49% | Add |
| 47 | SYY | Sysco CORP | +0.4% | NEW | New buy |
| 48 | APTV | Aptiv PLC | +0.4% | +248.00% | Add |
| 49 | AMP | Ameriprise Financial Inc | +0.3% | +1800.00% | Add |
| 50 | BKR | Baker Hughes Co | +0.3% | NEW | New buy |
1–50 of 200
Filing History
FAQ
What is Board of the Pension Protection Fund and what type of investor is it?
Board of the Pension Protection Fund is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $105.4M, spread across 110 disclosed positions.
What are Board of the Pension Protection Fund's largest equity positions?
Based on the latest 13F filing, Board of the Pension Protection Fund's top holdings by market value are:
1. Ball CORP (BALL) — $2.2M (2.1%)
2. Magna International Inc (MGA) — $2.1M (2.0%)
3. Incyte CORP (INCY) — $2.0M (1.9%)
4. Flex Ltd. (FLEX) — $2.0M (1.9%)
5. Hewlett Packard Enterprise (HPE) — $1.9M (1.8%)
What changes did Board of the Pension Protection Fund make in its most recent portfolio filing?
In the latest reported quarter, Board of the Pension Protection Fund made 200 notable position adjustments: 45 new positions were initiated, 36 existing holdings were added to, 28 positions were partially reduced, and 91 were completely exited. The largest of these moves: Sold out: Dell Technologies -c (DELL); New buy: Ball CORP (BALL); New buy: Magna International Inc (MGA); Sold out: Celestica Inc (CLS); Sold out: Open Text CORP (OTEX)
What sectors does Board of the Pension Protection Fund focus on?
Board of the Pension Protection Fund is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 18.8%
• Financials: 17.2%
• Communication Services: 12.7%
• Health Care: 9.3%
• Consumer Discretionary: 8.9%
• Industrials: 8.9%
Investment Profile
Board of the Pension Protection Fund returned an annualized 20.3% over the trailing 18 months — outperforming the S&P 500 by 6.6 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.66 (less volatile than the market) and a 56% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding.
It has added to its INCY position over the past two quarters (+$1.9M, now $2.0M), while trimming FNF over the same stretch (-$1.4M, still holding $80.2K).
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Developer Access
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