CIK: 0001039765
Total reported value
$16.4B
Reporting period: 2026-03-31 · Number of holdings: 503
ING GROEP NV disclosed 503 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $16.4B and a quarterly turnover rate of 51.7%.
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Ing Groep NV's disclosed holdings carry a Herfindahl concentration index of 0.021 — mathematically equivalent to about 47 equally-sized positions, well below its 503 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 3.11), 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.
Trim AAPL
-38.9% -$506.3M
Trim AVGO
-31.9% -$304.9M
Add GOOG
+94.3% $253.1M
Add AMZN
+426.5% $254.5M
Trim MA
-26.8% -$263.7M
Add MU
+136.5% $189.8M
ING is actively rotating capital out of hardware-dominant platforms and legacy digital infrastructure into cloud ecosystems and memory storage chips this quarter. The 52% turnover ratio against a 100-point contrarian score confirms an aggressive rebalancing away from crowded mega-cap tech weights toward cyclical semiconductor exposure.
The embedded bet is that AI capital expenditures are transitioning from GPU-centric builds to bandwidth and storage-constrained phases, pricing premium valuations into AVGO and NVDA while accelerating AMZN, GOOG, and MU. The opposing thesis argues that hardware monopolies still dictate compute pacing, making the trim a premature distribution of quality assets ahead of sustained multi-year demand.
The 503-name portfolio creates a liquidity drag where capital is excessively diluted across fringe holdings, while the aggressive quarterly churn guarantees high transaction friction costs. When position sizing discipline meets ultra-low concentration (HHI 0.02), alpha generation gets structurally capped by overhead weight rather than security selection.
AI-assisted summary drawn from public regulatory disclosures, covering historical data only. Not a substitute for professional investment advice.
Showing top 200 holdings (of 503 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 9.01% | -1.09% | -5.93% | |
| 2 | MSFT | Microsoft CORP | Stock-Tech | 5.27% | — | +26.12% | |
| 3 | AAPL | Apple INC | Stock-Tech | 4.11% | -3.00% | -38.91% | |
| 4 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 3.54% | +1.57% | +94.26% | |
| 5 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 3.38% | +1.05% | +55.72% | |
| 6 | AVGO | Broadcom INC | Stock-Tech | 2.91% | -1.80% | -31.88% | |
| 7 | MA | Mastercard INC - A | Stock-Financials | 2.87% | -1.55% | -26.83% | |
| 8 | AMZN | Amazon.com INC | Stock-Consumer Disc | 1.97% | +1.56% | +426.48% | |
| 9 | HON | Honeywell International INC | Stock-Industrials | 1.82% | +0.48% | +15.34% | |
| 10 | MU | Micron Technology INC | Stock-Tech | 1.81% | +1.17% | +136.45% | |
| 11 | BAC | Bank Of America CORP | Stock-Financials | 1.71% | — | -0.41% | |
| 12 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.47% | +0.28% | +40.60% | |
| 13 | HD | Home Depot INC | Stock-Consumer Disc | 1.43% | +0.63% | +85.18% | |
| 14 | XLI | Ss Industrial Select Sector | ETF-Other | 1.40% | — | — | |
| 15 | TSLA | Tesla INC | Stock-Consumer Disc | 1.36% | +0.33% | +57.47% | |
| 16 | LIN | Linde plc | Stock-Materials | 1.31% | -0.26% | -29.16% | |
| 17 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.09% | — | +7.09% | |
| 18 | CAR | Avis Budget Group INC | Stock-Other | 1.09% | +0.29% | +18.36% | |
| 19 | PEP | Pepsico INC | Stock-Consumer Staples | 0.99% | +0.45% | +65.89% | |
| 20 | IBM | Intl Business Machines CORP | Stock-Tech | 0.97% | +0.38% | +99.00% | |
| 21 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.91% | — | +0.13% | |
| 22 | PLTR | Palantir Technologies Inc-a | Stock-Tech | 0.90% | — | -5.05% | |
| 23 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.85% | +0.58% | +163.96% | |
| 24 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 0.77% | +0.29% | +56.95% | |
| 25 | ABBV | Abbvie INC | Stock-Healthcare | 0.69% | -0.40% | -33.96% | |
| 26 | AMD | Advanced Micro Devices | Stock-Tech | 0.69% | — | -4.94% | |
| 27 | SNDK | Sandisk CORP | Stock-Tech | 0.69% | +0.63% | +355.10% | |
| 28 | ORCL | Oracle CORP | Stock-Tech | 0.68% | — | +53.37% | |
| 29 | WMT | Walmart INC | Stock-Consumer Staples | 0.67% | +0.47% | +188.63% | |
| 30 | KVUE | Kenvue INC | Stock-Consumer Staples | 0.64% | -0.39% | -38.27% | |
| 31 | ABT | Abbott Laboratories | Stock-Healthcare | 0.64% | — | +71.45% | |
| 32 | XLB | Ss Materials Select Sector | ETF-Other | 0.62% | +0.62% | NEW | |
| 33 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.62% | — | +0.21% | |
| 34 | MPLX | Mplx LP | Stock-Energy | 0.62% | -0.31% | -39.11% | |
| 35 | CAT | Caterpillar INC | Stock-Industrials | 0.62% | +0.39% | +113.79% | |
| 36 | LRCX | Lam Research CORP | Stock-Tech | 0.60% | — | +19.48% | |
| 37 | GE | General Electric | Stock-Industrials | 0.59% | +0.29% | +109.62% | |
| 38 | GEV | GE Vernova INC | Stock-Industrials | 0.59% | +0.48% | +288.02% | |
| 39 | WBD | Warner Bros Discovery INC | Stock-Comm Services | 0.57% | — | +81.27% | |
| 40 | AMAT | Applied Materials INC | Stock-Tech | 0.56% | +0.43% | +231.89% | |
| 41 | PM | Philip Morris International | Stock-Consumer Staples | 0.56% | — | +74.50% | |
| 42 | ADI | Analog Devices INC | Stock-Tech | 0.55% | — | +25.99% | |
| 43 | BA | Boeing Co/the | Stock-Industrials | 0.54% | -0.47% | -42.69% | |
| 44 | CAH | Cardinal Health INC | Stock-Healthcare | 0.53% | — | -4.28% | |
| 45 | ORLY | O'reilly Automotive INC | Stock-Consumer Disc | 0.51% | — | +76.73% | |
| 46 | NEOG | Neogen CORP | Stock-Healthcare | 0.51% | — | +1.44% | |
| 47 | T | At&t INC | Stock-Comm Services | 0.50% | — | +38.02% | |
| 48 | INTC | Intel CORP | Stock-Tech | 0.50% | — | +5.49% | |
| 49 | XOM | Exxon Mobil CORP | Stock-Energy | 0.48% | +0.48% | NEW | |
| 50 | MRK | Merck & Co. INC. | Stock-Healthcare | 0.47% | — | -18.41% |
Performance for Q3 2026
+3%
Performance Last 4 Quarters
+23.1%
Based on 77% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 503 | $16.4B | 52 | |
| 2025-12-31 | 553 | $16.6B | 44 | |
| 2025-09-30 | 507 | $18.5B | 61 | |
| 2025-06-30 | 472 | $16.4B | 0 | |
| 2025-03-31 | 476 | $14.4B | 100 | |
| 2024-12-31 | 559 | $14.8B | 0 | |
| 2024-09-30 | 531 | $17.2B | 0 | |
| 2024-06-30 | 534 | $16.9B | 0 | |
| 2024-03-31 | 551 | $14.6B | 0 | |
| 2023-12-31 | 540 | $12.4B | 0 | |
| 2023-09-30 | 626 | $11.3B | 0 | |
| 2023-06-30 | 533 | $13.2B | 0 | |
| 2023-03-31 | 654 | $10.3B | 0 | |
| 2022-12-31 | 508 | $10.0B | 0 | |
| 2022-09-30 | 403 | $6.0B | 0 | |
| 2022-06-30 | 529 | $8.6B | 0 | |
| 2022-03-31 | 524 | $9.9B | 0 | |
| 2021-12-31 | 614 | $11.2B | 0 | |
| 2021-09-30 | 602 | $7.8B | 0 | |
| 2021-06-30 | 553 | $6.3B | 100 | |
| 2021-03-31 | 508 | $4.8B | 37 | |
| 2020-12-31 | 545 | $4.5B | 81 | |
| 2020-09-30 | 480 | $2.4B | 55 | |
| 2020-06-30 | 291 | $2.3B | 100 | |
| 2020-03-31 | 379 | $2.3B | 100 | |
| 2019-12-31 | 458 | $3.3B | 61 | |
| 2019-09-30 | 475 | $3.9B | 95 | |
| 2019-06-30 | 745 | $5.7B | 53 | |
| 2019-03-31 | 708 | $4.6B | 75 | |
| 2018-12-31 | 692 | $4.6B | 50 | |
| 2018-09-30 | 762 | $5.8B | 48 | |
| 2018-06-30 | 718 | $5.2B | 64 | |
| 2018-03-31 | 718 | $5.5B | 88 | |
| 2017-12-31 | 743 | $6.0B | 76 | |
| 2017-09-30 | 815 | $5.2B | 68 | |
| 2017-06-30 | 825 | $5.2B | 65 | |
| 2017-03-31 | 569 | $5.5B | 63 | |
| 2016-12-31 | 531 | $5.3B | 80 | |
| 2016-09-30 | 565 | $8.3B | 47 | |
| 2016-06-30 | 517 | $7.4B | 61 | |
| 2016-03-31 | 528 | $8.0B | 100 | |
| 2015-12-31 | 1145 | $16.6B | 51 | |
| 2015-09-30 | 977 | $14.5B | 45 | |
| 2015-06-30 | 1049 | $18.5B | 49 | |
| 2015-03-31 | 1348 | $19.9B | 42 | |
| 2014-12-31 | 1299 | $21.2B | 44 | |
| 2014-09-30 | 1139 | $17.2B | 39 | |
| 2014-06-30 | 1158 | $19.8B | 33 | |
| 2014-03-31 | 1238 | $18.9B | 42 | |
| 2013-12-31 | 1273 | $19.9B | 50 | |
| 2013-09-30 | 1178 | $19.9B | 48 | |
| 2013-06-30 | 1239 | $18.9B | 100 |
Ing Groep NV's most significant position changes for 2026-03-31: New buy: Ss Materials Select Sector (XLB); New buy: Exxon Mobil CORP (XOM); New buy: Norwegian Cruise Line Holdings Ltd. (NCLH); Sold out: Marvell Technology INC (MRVL); Sold out: Dayforce INC (DAY).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | GOOG | Alphabet Inc-cl C | +1.6% | +94.26% | Add |
| 2 | AMZN | Amazon.com INC | +1.6% | +426.48% | Add |
| 3 | MU | Micron Technology INC | +1.2% | +136.45% | Add |
| 4 | GOOGL | Alphabet Inc-cl A | +1.1% | +55.72% | Add |
| 5 | SNDK | Sandisk CORP | +0.6% | +355.10% | Add |
| 6 | HD | Home Depot INC | +0.6% | +85.18% | Add |
| 7 | COST | Costco Wholesale CORP | +0.6% | +163.96% | Add |
| 8 | GEV | GE Vernova INC | +0.5% | +288.02% | Add |
| 9 | HON | Honeywell International INC | +0.5% | +15.34% | Add |
| 10 | WMT | Walmart INC | +0.5% | +188.63% | Add |
| 11 | PEP | Pepsico INC | +0.5% | +65.89% | Add |
| 12 | AMAT | Applied Materials INC | +0.4% | +231.89% | Add |
| 13 | CAT | Caterpillar INC | +0.4% | +113.79% | Add |
| 14 | IBM | Intl Business Machines CORP | +0.4% | +99.00% | Add |
| 15 | TSLA | Tesla INC | +0.3% | +57.47% | Add |
| 16 | LMT | Lockheed Martin CORP | +0.3% | +341.75% | Add |
| 17 | TMO | Thermo Fisher Scientific INC | +0.3% | +479.63% | Add |
| 18 | CMI | Cummins INC | +0.3% | +472.85% | Add |
| 19 | MCD | Mcdonald's CORP | +0.3% | +56.95% | Add |
| 20 | GE | General Electric | +0.3% | +109.62% | Add |
| 21 | CAR | Avis Budget Group INC | +0.3% | +18.36% | Add |
| 22 | HO1 | Hologic INC | +0.3% | +2080.87% | Add |
| 23 | META | Meta Platforms Inc-class A | +0.3% | +40.60% | Add |
| 24 | NSC | Norfolk Southern CORP | +0.3% | +207.64% | Add |
| 25 | LIN | Linde plc | -0.3% | -29.16% | Trim |
| 26 | CMCSA | Comcast Corp-class A | -0.3% | -75.12% | Trim |
| 27 | AS | Amer Sports, Inc. | -0.3% | -86.42% | Trim |
| 28 | ROP | Roper Technologies INC | -0.3% | -67.78% | Trim |
| 29 | ZTS | Zoetis INC | -0.3% | -81.31% | Trim |
| 30 | ISRG | Intuitive Surgical INC | -0.3% | -28.32% | Trim |
| 31 | MPLX | Mplx LP | -0.3% | -39.11% | Trim |
| 32 | MDB | Mongodb INC | -0.3% | -70.58% | Trim |
| 33 | KVUE | Kenvue INC | -0.4% | -38.27% | Trim |
| 34 | ABBV | Abbvie INC | -0.4% | -33.96% | Trim |
| 35 | NFLX | Netflix INC | -0.4% | -83.11% | Trim |
| 36 | CTSH | Cognizant Tech Solutions-a | -0.4% | -34.18% | Trim |
| 37 | BA | Boeing Co/the | -0.5% | -42.69% | Trim |
| 38 | ACN | Accenture plc | -0.5% | -76.35% | Trim |
| 39 | CSCO | Cisco Systems INC | -0.5% | -73.68% | Trim |
| 40 | SPY | Ss Spdr S&p 500 ETF Trust-us | -0.8% | -67.83% | Trim |
| 41 | CRM | Salesforce INC | -1% | -80.90% | Trim |
| 42 | NVDA | Nvidia CORP | -1.1% | -5.93% | Trim |
| 43 | MA | Mastercard INC - A | -1.6% | -26.83% | Trim |
| 44 | AVGO | Broadcom INC | -1.8% | -31.88% | Trim |
| 45 | AAPL | Apple INC | -3% | -38.91% | Trim |
| 46 | XLB | Ss Materials Select Sector | — | NEW | New buy |
| 47 | XOM | Exxon Mobil CORP | — | NEW | New buy |
| 48 | NCLH | Norwegian Cruise Line Holdings Ltd. | — | NEW | New buy |
| 49 | MRVL | Marvell Technology INC | — | EXIT | Sold out |
| 50 | DAY | Dayforce INC | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-11 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-11 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-06 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-06 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-09 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-03 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-06 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-13 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-10 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-08 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-10-27 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-07 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-09 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-13 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-08 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-13 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-11 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-02 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-13 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-12 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-11 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-12 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-13 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-06 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-10 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-08 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-12 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-13 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-13 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-06 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-10 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-07 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-06 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-08 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-07-25 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-01 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-06 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-07-27 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-12 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-12 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-12-09 | Amendment | View on EDGAR |
| 2015-09-30 | 2015-11-10 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-10 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-14 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-17 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-14 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-14 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-14 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-14 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-13 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-14 | 13F-HR | View on EDGAR |
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