PFA Pension

PFA Pension

Period

Q1 2026

Portfolio Date

Mar 31, 2026

Stocks Held

381

Market Value

$33.2B

Portfolio Analysis

AIPreview
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I. Institutional Overview

PFA Pension, as one of the largest and most influential institutional investors in the Nordic region, represents a sophisticated archetype of long-term capital management. With a total portfolio market value reaching approximately $33.24 billion as of the end of the first quarter of 2026, the institution operates with a scale that necessitates a highly...

The institutional scale of PFA Pension has shown a remarkable level of stability and strategic expansion. Managing over $33 billion in equity assets requires a delicate balance between liquidity and alpha generation. The institution’s portfolio currently comprises 381 individual stocks, a number that suggests a well-diversified foundation designed to...

The investment style of PFA Pension can be characterized as "Growth-at-Reasonable-Price (GARP) with a Secular Tilt." By analyzing the composition of its holdings, it is evident that the institution prioritizes companies with dominant market positions, robust cash flows, and exposure to long-term structural tailwinds—most notably the ongoing digital...

Based on the latest available 13F filing.

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Holdings Value Trend

Q4 2025

Q1 2026

Top 5 Holdings

1

$NVDA

NVIDIA Corporation

7.5%

% of Portfolio

2

$AAPL

Apple Inc.

6.6%

% of Portfolio

3

$MSFT

Microsoft Corporation

4.6%

% of Portfolio

4

$AMZN

Amazon.com, Inc.

3.4%

% of Portfolio

5

$GOOGL

Alphabet Inc.

3.0%

% of Portfolio

Historical Positions

SymbolQ1 2026Q4 2025
NVDA7.5%7.5%
AAPL6.6%6.7%
MSFT4.6%5.7%
AMZN3.4%3.5%
GOOGL3.0%3.1%
AVGO2.5%2.6%
GOOG2.4%2.5%
META2.1%2.3%
TSLA1.8%2.1%
JPM1.3%-

Post-Filing Contributors

Price change since reported price, ranked by portfolio contribution

NVDA+17.35%
GOOGL+26.51%
AAPL+16.61%
AMZN+14.03%
GOOG+26.23%

Post-Filing Detractors

Price change since reported price, ranked by portfolio contribution

T-22.59%
JNJ-4.19%
NFLX-19.96%
PLTR-10.70%
ABT-17.31%

Sector Analysis

Others0.9%
Materials3.2%
Utilities2.2%
Financials13.5%
Healthcare9.8%
Technology34.3%
Industrials8.8%
Real Estate1.8%

Trading Summary

1

$AON

0.0%

2

$AU

0.0%

3

$BAH

0.0%

4

$BYD

0.0%

5

$CLX

0.0%

6

$EAT

0.0%

7

$EHC

0.0%

8

$FTAI

0.0%

9

$FTDR

0.0%

10

$FWONK

0.0%

11

$HALO

0.0%

12

$KTB

0.0%

13

$MAS

0.0%

14

$MNST

0.0%

15

$PRI

0.0%

16

$STRL

0.0%

17

$ULS

0.0%

18

$VSNT

0.0%

All Holdings

1

$NVDA

7.5%

2

$AAPL

6.6%

3

$MSFT

4.6%

4

$AMZN

3.4%

5

$GOOGL

3.0%

6

$AVGO

2.5%

7

$GOOG

2.4%

8

$META

2.1%

9

$TSLA

1.8%

10

$JPM

1.3%

11

$LLY

1.3%

12

$JNJ

1.1%

13

$BRK.B

1.0%

14

$WMT

0.9%

15

$V

0.9%

16

$MA

0.8%

17

$COST

0.7%

18

$ABBV

0.7%

19

$NFLX

0.7%

20

$MU

0.6%

21

$LRCX

0.6%

22

$CSCO

0.6%

23

$AMD

0.6%

24

$LIN

0.6%

25

$PG

0.6%

26

$BAC

0.6%

27

$GE

0.6%

28

$KO

0.5%

29

$PLTR

0.5%

30

$MRK

0.5%

31

$AMAT

0.5%

32

$HD

0.5%

33

$GS

0.5%

34

$BKR

0.5%

35

$T

0.5%

36

$VZ

0.5%

37

$WFC

0.4%

38

$ORCL

0.4%

39

$GEV

0.4%

40

$IBM

0.4%

41

$KLAC

0.4%

42

$ED

0.4%

43

$C

0.4%

44

$HAL

0.4%

45

$DIS

0.4%

46

$AXP

0.4%

47

$EXC

0.4%

48

$PEP

0.4%

49

$UNH

0.4%

50

$ATO

0.4%