CIK: 0001717443
Total reported value
$25.5B
Reporting period: 2026-03-31 · Number of holdings: 2154
KLP KAPITALFORVALTNING AS disclosed 2154 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $25.5B and a quarterly turnover rate of 13.9%.
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Klp Kapitalforvaltning As's disclosed holdings carry a Herfindahl concentration index of 0.015 — mathematically equivalent to about 65 equally-sized positions, well below its 2154 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 5.67), 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.
Sector classification currently covers about 67% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim MSFT
+3.0% -$291.4M
Add XOM
+2.3% $93.6M
Trim TSLA
+3.9% -$68.5M
Add CVX
+1.4% $46.7M
Add JNJ
+2.5% $46.4M
Trim META
+3.6% -$52.9M
KLP KAPITALFORVALTNING AS is systematically harvesting momentum alpha across 2,154 positions, but the weight drift in top holdings—adding to MSFT and NVDA while their portfolio shares fall—signals a deliberate rotation out of tech's dominant winners to redeploy capital into energy and healthcare laggards that are now catching momentum. This is not a conviction increase; it's a momentum-tilted rebalancing mechanism trimming the old winners to feed the new.
The portfolio's extreme momentum tilt (100/100) and 40% IT weighting embed a bet that AI-driven productivity gains and energy supply constraints persist through 2026, pricing in a no-recession, risk-on regime. The opposing thesis is that tight of a momentum factor leaves no margin for error: a single macro shock—stagflation, rate resurgence, or a tech capacity glut—would trigger a synchronized unwind across these crowded momentum names.
With 2,154 holdings and a coefficient of variation above 5, KLP's portfolio carries a structural vulnerability: the illusion of diversification. The top handful of names—MSFT, NVDA, AMZN—dominate economic exposure despite low nominal weights, creating a hidden concentration in the AI supply chain that mirrors the broad market's indexing bias. Meanwhile, the 100 momentum score means the entire portfolio is a single factor bet; when momentum regime shifts—as it does in every cycle—this fund's liquidity is its liability, as every position becomes a seller simultaneously.
AI-assisted summary drawn from public regulatory disclosures, covering historical data only. Not a substitute for professional investment advice.
Showing top 200 holdings (of 2154 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 6.71% | -0.14% | +3.10% | |
| 2 | AAPL | Apple INC | Stock-Tech | 6.13% | +0.02% | +5.91% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 4.25% | -1.06% | +2.97% | |
| 4 | AMZN | Amazon.com INC | Stock-Consumer Disc | 2.93% | -0.15% | +3.80% | |
| 5 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 2.76% | -0.12% | +2.81% | |
| 6 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 2.17% | -0.11% | +2.76% | |
| 7 | AVGO | Broadcom INC | Stock-Tech | 2.06% | -0.13% | +3.74% | |
| 8 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.82% | -0.17% | +3.56% | |
| 9 | TSLA | Tesla INC | Stock-Consumer Disc | 1.63% | -0.24% | +3.89% | |
| 10 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.32% | -0.08% | +1.86% | |
| 11 | XOM | Exxon Mobil CORP | Stock-Energy | 1.20% | +0.38% | +2.29% | |
| 12 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.15% | -0.13% | +3.11% | |
| 13 | JNJ | Johnson & Johnson | Stock-Healthcare | 1.05% | +0.19% | +2.53% | |
| 14 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.99% | — | +3.32% | |
| 15 | V | Visa Inc-class A Shares | Stock-Financials | 0.91% | -0.10% | +2.43% | |
| 16 | WMT | Walmart INC | Stock-Consumer Staples | 0.87% | +0.12% | +2.20% | |
| 17 | MA | Mastercard INC - A | Stock-Financials | 0.77% | -0.06% | +3.19% | |
| 18 | ABBV | Abbvie INC | Stock-Healthcare | 0.68% | — | +3.14% | |
| 19 | CVX | Chevron CORP | Stock-Energy | 0.67% | +0.19% | +1.36% | |
| 20 | NFLX | Netflix INC | Stock-Comm Services | 0.66% | — | -3.01% | |
| 21 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.64% | +0.11% | +3.57% | |
| 22 | KO | Coca-cola Co/the | Stock-Consumer Staples | 0.61% | +0.12% | +12.13% | |
| 23 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.60% | — | +9.43% | |
| 24 | MRK | Merck & Co. INC. | Stock-Healthcare | 0.57% | — | -6.15% | |
| 25 | MU | Micron Technology INC | Stock-Tech | 0.56% | +0.11% | +4.03% | |
| 26 | BAC | Bank Of America CORP | Stock-Financials | 0.54% | -0.06% | +0.87% | |
| 27 | AMD | Advanced Micro Devices | Stock-Tech | 0.52% | — | +5.33% | |
| 28 | CSCO | Cisco Systems INC | Stock-Tech | 0.51% | — | -6.33% | |
| 29 | HD | Home Depot INC | Stock-Consumer Disc | 0.50% | — | -0.61% | |
| 30 | PLTR | Palantir Technologies Inc-a | Stock-Tech | 0.49% | -0.10% | -0.87% | |
| 31 | LRCX | Lam Research CORP | Stock-Tech | 0.49% | — | -8.83% | |
| 32 | AMAT | Applied Materials INC | Stock-Tech | 0.49% | +0.14% | +3.06% | |
| 33 | GS | Goldman Sachs Group INC | Stock-Financials | 0.45% | — | +1.71% | |
| 34 | T | At&t INC | Stock-Comm Services | 0.44% | +0.07% | +1.60% | |
| 35 | VZ | Verizon Communications INC | Stock-Comm Services | 0.42% | +0.07% | -3.12% | |
| 36 | WFC | Wells Fargo & Co | Stock-Financials | 0.41% | -0.06% | +1.48% | |
| 37 | C | Citigroup INC | Stock-Financials | 0.40% | — | +1.62% | |
| 38 | KLAC | Kla CORP | Stock-Tech | 0.40% | +0.08% | +0.06% | |
| 39 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 0.40% | — | +5.55% | |
| 40 | GILD | Gilead Sciences INC | Stock-Healthcare | 0.39% | — | -9.16% | |
| 41 | IBM | Intl Business Machines CORP | Stock-Tech | 0.39% | -0.06% | +3.21% | |
| 42 | BMY | Bristol-myers Squibb Co | Stock-Healthcare | 0.38% | — | +1.82% | |
| 43 | UNH | Unitedhealth Group INC | Stock-Healthcare | 0.38% | -0.06% | +2.77% | |
| 44 | ORCL | Oracle CORP | Stock-Tech | 0.37% | -0.10% | +3.98% | |
| 45 | GEV | GE Vernova INC | Stock-Industrials | 0.37% | +0.10% | +2.67% | |
| 46 | GE | General Electric | Stock-Industrials | 0.37% | — | +1.43% | |
| 47 | NEE | Nextera Energy INC | Stock-Utilities | 0.36% | +0.06% | +4.49% | |
| 48 | PEP | Pepsico INC | Stock-Consumer Staples | 0.36% | — | +7.69% | |
| 49 | DE | Deere & Co | Stock-Industrials | 0.36% | +0.07% | +1.02% | |
| 50 | LIN | Linde plc | Stock-Materials | 0.34% | — | -1.39% |
Performance for Q3 2026
+3.5%
Performance Last 4 Quarters
+21.1%
Based on 77% of reported portfolio value with available pricing
Klp Kapitalforvaltning As's most significant position changes for 2026-03-31: Add: Microsoft CORP (MSFT) — shares +2.97%; Add: Exxon Mobil CORP (XOM) — shares +2.29%; Add: Tesla INC (TSLA) — shares +3.89%; Add: Chevron CORP (CVX) — shares +1.36%; Add: Johnson & Johnson (JNJ) — shares +2.53%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | XOM | Exxon Mobil CORP | +0.4% | +2.29% | Add |
| 2 | CVX | Chevron CORP | +0.2% | +1.36% | Add |
| 3 | JNJ | Johnson & Johnson | +0.2% | +2.53% | Add |
| 4 | AMAT | Applied Materials INC | +0.1% | +3.06% | Add |
| 5 | CW | Curtiss-wright CORP | +0.1% | +380.03% | Add |
| 6 | KO | Coca-cola Co/the | +0.1% | +12.13% | Add |
| 7 | WMT | Walmart INC | +0.1% | +2.20% | Add |
| 8 | COST | Costco Wholesale CORP | +0.1% | +3.57% | Add |
| 9 | MU | Micron Technology INC | +0.1% | +4.03% | Add |
| 10 | GEV | GE Vernova INC | +0.1% | +2.67% | Add |
| 11 | ADI | Analog Devices INC | +0.1% | +22.79% | Add |
| 12 | VLO | Valero Energy CORP | +0.1% | +2.01% | Add |
| 13 | COP | Conocophillips | +0.1% | -3.55% | Trim |
| 14 | KLAC | Kla CORP | +0.1% | +0.06% | Add |
| 15 | WDC | Western Digital CORP | +0.1% | +2.61% | Add |
| 16 | T | At&t INC | +0.1% | +1.60% | Add |
| 17 | VZ | Verizon Communications INC | +0.1% | -3.12% | Trim |
| 18 | DE | Deere & Co | +0.1% | +1.02% | Add |
| 19 | GLW | Corning INC | +0.1% | -6.02% | Trim |
| 20 | NEE | Nextera Energy INC | +0.1% | +4.49% | Add |
| 21 | DVN | Devon Energy CORP | +0.1% | +184.29% | Add |
| 22 | AAPL | Apple INC | 0% | +5.91% | Add |
| 23 | MA | Mastercard INC - A | -0.1% | +3.19% | Add |
| 24 | IBM | Intl Business Machines CORP | -0.1% | +3.21% | Add |
| 25 | BSX | Boston Scientific CORP | -0.1% | +4.29% | Add |
| 26 | UNH | Unitedhealth Group INC | -0.1% | +2.77% | Add |
| 27 | BKNG | Booking Holdings INC | -0.1% | +1.61% | Add |
| 28 | COF | Capital One Financial CORP | -0.1% | +3.06% | Add |
| 29 | ACN | Accenture plc | -0.1% | +2.46% | Add |
| 30 | BAC | Bank Of America CORP | -0.1% | +0.87% | Add |
| 31 | WFC | Wells Fargo & Co | -0.1% | +1.48% | Add |
| 32 | NOW | Servicenow INC | -0.1% | +1.45% | Add |
| 33 | ADBE | Adobe INC | -0.1% | +7.52% | Add |
| 34 | JPM | Jpmorgan Chase & Co | -0.1% | +1.86% | Add |
| 35 | QCOM | Qualcomm INC | -0.1% | +1.13% | Add |
| 36 | APP | Applovin Corp-class A | -0.1% | +5.24% | Add |
| 37 | V | Visa Inc-class A Shares | -0.1% | +2.43% | Add |
| 38 | PLTR | Palantir Technologies Inc-a | -0.1% | -0.87% | Trim |
| 39 | INTU | Intuit INC | -0.1% | +4.31% | Add |
| 40 | ORCL | Oracle CORP | -0.1% | +3.98% | Add |
| 41 | GOOG | Alphabet Inc-cl C | -0.1% | +2.76% | Add |
| 42 | CRM | Salesforce INC | -0.1% | +1.22% | Add |
| 43 | GOOGL | Alphabet Inc-cl A | -0.1% | +2.81% | Add |
| 44 | AVGO | Broadcom INC | -0.1% | +3.74% | Add |
| 45 | LLY | Eli Lilly & Co | -0.1% | +3.11% | Add |
| 46 | NVDA | Nvidia CORP | -0.1% | +3.10% | Add |
| 47 | AMZN | Amazon.com INC | -0.2% | +3.80% | Add |
| 48 | META | Meta Platforms Inc-class A | -0.2% | +3.56% | Add |
| 49 | TSLA | Tesla INC | -0.2% | +3.89% | Add |
| 50 | MSFT | Microsoft CORP | -1.1% | +2.97% | Add |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-04-29 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-01-28 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-10-23 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-07-23 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-06 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-11 | 13F-HR | View on EDGAR |
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