§ 13F · FUND PROFILE
PFA Pension, Forsikringsaktieselskab.
AUM · $39.4B (13F)Positions · 419Turnover · 99% · Q2Filed · Aug 12, 2026
CONCENTRATION
35%
Top 10 holdings
NEW BUYS
+65
+$2.4B deployed
EXITS
0
No exits
SECTOR SHIFT
n/a
No prior quarter data
§ 01 · TOP HOLDINGS
The book · Q2 2026
FILED AUG 12, 2026
| # | Ticker | Name | Shares | $ value | % port | Δ Q2 |
|---|---|---|---|---|---|---|
| 1 | NVDA | NVIDIA CORPORATION | 14.23M | $2.8B | 7.2% | ±0% |
| 2 | AAPL | APPLE INC | 8.91M | $2.6B | 6.5% | +3% |
| 3 | MSFT | MICROSOFT CORP | 4.32M | $1.6B | 4.1% | +5% |
| 4 | AMZN | AMAZON COM INC | 5.37M | $1.3B | 3.3% | ±0% |
| 5 | GOOGL | ALPHABET INC | 3.57M | $1.3B | 3.2% | +2% |
| 6 | AVGO | BROADCOM INC | 2.76M | $1.0B | 2.7% | +3% |
| 7 | GOOG | ALPHABET INC | 2.86M | $1.0B | 2.6% | +3% |
| 8 | MU | MICRON TECHNOLOGY INC | 671K | $775M | 2.0% | +7% |
| 9 | META | META PLATFORMS INC | 1.32M | $741M | 1.9% | +8% |
| 10 | TSLA | TESLA INC | 1.65M | $694M | 1.8% | ±0% |
§ 02 · SECTOR ALLOCATION
Where the money is
Other40.8%
Semiconductors19.3%
Technology16.3%
Media9.0%
Financial Services6.9%
Retail6.8%
§ 03 · THE PFA SIGNAL
AC read
PFA Pension, Forsikringsaktieselskab is a Income / Defensive fund managing $39.4 billion in assets. The fund runs a broad portfolio of 419 positions, broad diversification across holdings, with the top 10 accounting for 35%. Trading activity is aggressive at 99% quarterly turnover, with 65 new positions and 0 exits last quarter. Top sector allocations: Other (41%), Semiconductors (19%), Technology (16%).
Read the full dossier →§ 04 · FILING HISTORY
Q-by-Q deltas
1 OF 3 FILINGS MEASURED
Q2 2026
Busy quarter
+65 buys · −0 exits · 351 changed