Employees Provident Fund Board

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed March 17, 2026), Employees Provident Fund Board reported 86 stock positions worth $8.8 billion. Its top holding was Nvidia (NVDA) at 8.5% of the portfolio, followed by Microsoft (MSFT, 7.2%) and Alphabet Class A (GOOGL, 3.9%). Compared with Q4 2024, it opened 8 new positions, sold out of 4, added to 44 and reduced 14. The biggest buy was Boston Scientific (BSX, shares +431%) and the biggest sale Lam Research (LRCX, shares −93%).

Most Recent 13F
Q2 2026
Location
SHAH ALAM, N8
CIK
0001600177
Portfolio Value
$8.8B (Q1 2025)
SEC Filing
0001600177-26-000007 ↗ filed Mar 17, 2026

Holdings Value

0$5.0B$10.0B$15.0B$20.0B Q1 2024: $5.7B Q1 2024 Q2 2024: $6.2B Q2 2024 Q3 2024: $7.3B Q3 2024 Q4 2024: $8.1B Q4 2024 Q1 2025: $8.8B $8.8B Q1 2025 Q2 2025: $11.6B Q2 2025 Q3 2025: $12.5B Q3 2025 Q4 2025: $13.6B Q4 2025 Q1 2026: $13.2B Q1 2026 Q2 2026: $17.4B Q2 2026

Holdings 86 stocks · $8.8B
NVDA Nvidia Corp. 8.48% 6,887,347 $746.5M Add +43.5%
MSFT Microsoft Corp. 7.23% 1,694,769 $636.2M Add +18.2%
GOOGL Alphabet Inc. Class A 3.90% 2,220,974 $343.5M Add +59.1%
LLY Eli Lilly & Co. 3.66% 389,981 $322.1M Add +43.0%
META Meta Platforms Inc. Class A 3.00% 458,060 $264.0M Add +46.3%
AAPL Apple Inc. 2.97% 1,175,473 $261.1M Add +7.9%
NOW ServiceNow Inc. 2.62% 289,335 $230.4M Add +72.9%
ZTS Zoetis Inc. 2.55% 1,364,380 $224.6M Add +48.4%
NKE Nike Inc. Class B 2.49% 3,448,773 $218.9M Add +7.1%
MU Micron Technology Inc. 2.44% 2,476,358 $215.2M Add +4.5%
AMZN Amazon.com Inc. 2.38% 1,100,000 $209.3M Add +71.9%
XOM Exxon Mobil Corp. 2.14% 1,585,790 $188.6M Add +6.7%
AVGO Broadcom Inc. 1.92% 1,009,666 $169.0M Add +3.4%
UBER Uber Technologies Inc. 1.87% 2,258,575 $164.6M Reduce -6.3%
ADBE Adobe Inc. 1.84% 421,741 $161.8M Add +6.8%
MRVL Marvell Technology Inc. 1.75% 2,496,095 $153.7M Add +94.0%
DDOG Datadog Inc. Class A 1.72% 1,522,643 $151.1M Add +34.9%
AMD Advanced Micro Devices 1.71% 1,467,214 $150.7M Add +14.2%
PANW Palo Alto Networks Inc. 1.69% 869,838 $148.4M Reduce -2.2%
NEM Newmont Corp. 1.67% 3,040,669 $146.8M No change
PWR Quanta Services Inc. 1.61% 558,350 $141.9M Add +30.8%
BSX Boston Scientific Corp. 1.59% 1,386,617 $139.9M Add +431.3%
MCO Moody's Corp. 1.58% 298,149 $138.8M Add +8.3%
MRK Merck & Co. Inc. 1.54% 1,510,034 $135.5M Add +43.7%
AMAT Applied Materials Inc. 1.48% 896,781 $130.1M Add +5.9%
DXCM Dexcom Inc. 1.46% 1,877,500 $128.2M Add +6.0%
JPM JPMorgan Chase & Co. 1.40% 503,741 $123.6M Add +0.8%
CRM Salesforce Inc. 1.38% 453,404 $121.7M Add +47.3%
NEE Nextera Energy Inc. 1.37% 1,700,000 $120.5M No change
SLB SLB Ltd. filed as SCHLUMBERGER LTD 1.33% 2,797,057 $116.9M Add +0.9%
NXPI NXP Semiconductors NV 1.28% 591,346 $112.4M Add +13.7%
BMY Bristol-Myers Squibb Co. 1.26% 1,825,860 $111.4M Reduce -36.3%
ISRG Intuitive Surgical Inc. 1.25% 222,925 $110.4M Reduce -15.5%
UNH Unitedhealth Group Inc. 1.25% 210,000 $110.0M Add +32.1%
MA Mastercard Inc. Class A 1.21% 194,858 $106.8M Add +5.3%
ARM Arm Holdings PLC-ADR 1.21% 1,000,000 $106.8M Add +25.0%
C Citigroup Inc. 1.21% 1,500,000 $106.5M No change
B Barrick Gold Corp. 1.20% 5,456,156 $105.9M No change
SNPS Synopsys Inc. 1.20% 246,662 $105.8M Add +35.4%
CRWD CrowdStrike Holdings Inc. Class A 1.14% 285,515 $100.7M Reduce -34.6%
BIIB Biogen Inc. 1.09% 704,196 $96.4M No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.00% 888,773 $87.7M Reduce -1.3%
RMD Resmed Inc. 0.94% 370,828 $83.0M Add +116.1%
EMR Emerson Electric Co. 0.89% 712,348 $78.1M Add +228.1%
ORCL Oracle Corp. 0.79% 500,000 $69.9M New
TSLA Tesla Inc. 0.75% 254,989 $66.1M Add +215.8%
OIH Vaneck Oil Services ETF 0.72% 243,479 $63.8M No change
ALGN Align Technology Inc. 0.71% 395,688 $62.9M No change
DG Dollar General Corp. 0.58% 585,851 $51.5M No change
MDB Mongodb Inc. 0.58% 292,603 $51.3M Add +0.6%
LNG Cheniere Energy Inc. 0.48% 182,000 $42.1M No change
VST Vistra Corp. 0.47% 350,000 $41.1M New
LIN Linde PLC 0.41% 78,345 $36.5M New
SYK Stryker Corp. 0.39% 93,360 $34.8M Reduce -2.1%
GPC Genuine Parts Co. 0.30% 220,000 $26.2M No change
CLX Clorox Company 0.29% 171,680 $25.3M No change
DOV Dover Corp. 0.27% 134,061 $23.6M New
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.25% 22,064 $21.8M Add +4.1%
ABBV Abbvie Inc. 0.24% 101,500 $21.3M Add +136.1%
CMI Cummins Inc. 0.23% 64,500 $20.2M New
CL Colgate-Palmolive Co. 0.22% 202,694 $19.0M Add +17.6%
EFX Equifax Inc. 0.21% 77,700 $18.9M Add +73.6%
IAT iShares US Regional Banks Et 0.21% 400,000 $18.7M New
CI The Cigna Group 0.21% 56,000 $18.4M No change
CSL Carlisle Cos Inc. 0.21% 53,952 $18.4M Add +28.5%
FSLR First Solar Inc. 0.20% 137,000 $17.3M Add +60.2%
VRT Vertiv Holdings Co. Class A 0.19% 233,000 $16.8M Add +375.5%
GILD Gilead Sciences Inc. 0.19% 147,000 $16.5M Reduce -6.4%
JNJ Johnson & Johnson 0.19% 99,076 $16.4M Reduce -13.8%
ACN Accenture PLC Class A 0.19% 52,277 $16.3M New
AMGN Amgen Inc. 0.18% 50,200 $15.6M Reduce -11.9%
TT Trane Technologies PLC 0.17% 44,000 $14.8M Add +27.5%
EQT Eqt Corp. 0.16% 260,000 $13.9M Reduce -14.4%
COR Cencora Inc. 0.15% 48,000 $13.3M Reduce -22.6%
FERG Ferguson Enterprises Inc. 0.15% 83,000 $13.3M Add +38.3%
GIS General Mills Inc. 0.13% 195,811 $11.7M No change
PNC PNC Financial Services Group 0.13% 64,296 $11.3M New
LRCX Lam Research Corp. 0.11% 135,531 $9.9M Reduce -92.7%
AKAM Akamai Technologies Inc. 0.11% 121,800 $9.8M No change
CPB The Campbell's Company 0.11% 236,964 $9.5M No change
V Visa Inc. Class A 0.10% 24,400 $8.6M Reduce -2.4%
HSY The Hershey Co. 0.06% 30,000 $5.1M No change
VZ Verizon Communications Inc. 0.04% 86,000 $3.9M No change
BMO Bank of Montreal filed as BANK MONTREAL QUE 0.02% 18,200 $1.7M No change
BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX 0.02% 30,000 $1.4M No change
AVTR Avantor Inc. 0.01% 73,440 $1.2M No change

Portfolio Sells Q4 2024 → Q1 2025
LRCX Lam Research Corp. Reduce -92.7% 0.11% −1.54
HES Hess Corp. Sold out 0.00% −1.02
SPOT Spotify Technology SA Sold out 0.00% −0.86
BMY Bristol-Myers Squibb Co. Reduce -36.3% 1.26% −0.75
CRWD CrowdStrike Holdings Inc. Class A Reduce -34.6% 1.14% −0.71
NFLX Netflix Inc. Sold out 0.00% −0.61
ISRG Intuitive Surgical Inc. Reduce -15.5% 1.25% −0.46
PANW Palo Alto Networks Inc. Reduce -2.2% 1.69% −0.32
DIS The Walt Disney Co. Reduce -1.3% 1.00% −0.25
SYK Stryker Corp. Reduce -2.1% 0.39% −0.03
COR Cencora Inc. Reduce -22.6% 0.15% −0.02
JNJ Johnson & Johnson Reduce -13.8% 0.19% −0.02
EQT Eqt Corp. Reduce -14.4% 0.16% −0.02
MMM 3M Co. Sold out 0.00% −0.01
AMGN Amgen Inc. Reduce -11.9% 0.18% −0.01
V Visa Inc. Class A Reduce -2.4% 0.10% −0.00
GILD Gilead Sciences Inc. Reduce -6.4% 0.19% +0.01
UBER Uber Technologies Inc. Reduce -6.3% 1.87% +0.06

Portfolio Buys Q4 2024 → Q1 2025
BSX Boston Scientific Corp. Add +431.3% 1.59% +1.30
LLY Eli Lilly & Co. Add +43.0% 3.66% +1.04
ORCL Oracle Corp. New 0.79% +0.79
META Meta Platforms Inc. Class A Add +46.3% 3.00% +0.72
ZTS Zoetis Inc. Add +48.4% 2.55% +0.69
AMZN Amazon.com Inc. Add +71.9% 2.38% +0.63
GOOGL Alphabet Inc. Class A Add +59.1% 3.90% +0.62
EMR Emerson Electric Co. Add +228.1% 0.89% +0.55
NVDA Nvidia Corp. Add +43.5% 8.48% +0.47
VST Vistra Corp. New 0.47% +0.47
RMD Resmed Inc. Add +116.1% 0.94% +0.46
LIN Linde PLC New 0.41% +0.41
NOW ServiceNow Inc. Add +72.9% 2.62% +0.41
TSLA Tesla Inc. Add +215.8% 0.75% +0.35
DOV Dover Corp. New 0.27% +0.27
UNH Unitedhealth Group Inc. Add +32.1% 1.25% +0.25
MRK Merck & Co. Inc. Add +43.7% 1.54% +0.24
CMI Cummins Inc. New 0.23% +0.23
IAT iShares US Regional Banks Et New 0.21% +0.21
ACN Accenture PLC Class A New 0.19% +0.19
XOM Exxon Mobil Corp. Add +6.7% 2.14% +0.16
ABBV Abbvie Inc. Add +136.1% 0.24% +0.15
PNC PNC Financial Services Group New 0.13% +0.13
VRT Vertiv Holdings Co. Class A Add +375.5% 0.19% +0.12
CRM Salesforce Inc. Add +47.3% 1.38% +0.10
SNPS Synopsys Inc. Add +35.4% 1.20% +0.10
EFX Equifax Inc. Add +73.6% 0.21% +0.07
FERG Ferguson Enterprises Inc. Add +38.3% 0.15% +0.02
CL Colgate-Palmolive Co. Add +17.6% 0.22% +0.02
CSL Carlisle Cos Inc. Add +28.5% 0.21% +0.02
TT Trane Technologies PLC Add +27.5% 0.17% +0.01
FSLR First Solar Inc. Add +60.2% 0.20% +0.01
SLB SLB Ltd. Add +0.9% 1.33% +0.01
MA Mastercard Inc. Class A Add +5.3% 1.21% +0.00
ARM Arm Holdings PLC-ADR Add +25.0% 1.21% −0.01
MRVL Marvell Technology Inc. Add +94.0% 1.75% −0.02
GWW WW Grainger Inc. Add +4.1% 0.25% −0.03
MU Micron Technology Inc. Add +4.5% 2.44% −0.03
MCO Moody's Corp. Add +8.3% 1.58% −0.04
PWR Quanta Services Inc. Add +30.8% 1.61% −0.06
NXPI NXP Semiconductors NV Add +13.7% 1.28% −0.07
JPM JPMorgan Chase & Co. Add +0.8% 1.40% −0.08
AMD Advanced Micro Devices Add +14.2% 1.71% −0.21
AMAT Applied Materials Inc. Add +5.9% 1.48% −0.23
DXCM Dexcom Inc. Add +6.0% 1.46% −0.25
MDB Mongodb Inc. Add +0.6% 0.58% −0.26
MSFT Microsoft Corp. Add +18.2% 7.23% −0.28
DDOG Datadog Inc. Class A Add +34.9% 1.72% −0.29
ADBE Adobe Inc. Add +6.8% 1.84% −0.34
AAPL Apple Inc. Add +7.9% 2.97% −0.42

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 68$17.4BMSFT, NVDA, MU, GOOGL, AVGO
Q1 2026 70$13.2BMSFT, NVDA, GOOGL, META, MU
Q4 2025 73$13.6BNVDA, MSFT, META, GOOGL, AVGO
Q3 2025 77$12.5BMSFT, NVDA, META, GOOGL, LLY
Q2 2025 86$11.6BNVDA, MSFT, GOOGL, META, LLY
Q1 2025 86$8.8BNVDA, MSFT, GOOGL, LLY, META
Q4 2024 82$8.1BNVDA, MSFT, AAPL, GOOGL, NKE
Q3 2024 83$7.3BMSFT, NVDA, NKE, AAPL, AVGO
Q2 2024 84$6.2BNVDA, MSFT, AAPL, GOOGL, NKE
Q1 2024 78$5.7BNVDA, MSFT, GOOGL, AAPL, NKE