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Employees Provident Fund
Ahmad Zulqarnain Onn · Pension Fund · Multi-Strategy
Established in 1951, the Employees Provident Fund (EPF) of Malaysia is a government-linked pension fund managed by the Ministry of Finance. It serves as one of the world's oldest and largest retirement funds, dedicated to providing social security and retirement benefits for employees in the private sector and non-pensionable public sector. The EPF manages a diversified portfolio across fixed income, equities, real estate, and private equity to ensure sustainable long-term returns for its millions of members. It has evolved from a transaction-centric entity into a sophisticated global asset manager, maintaining significant holdings in international markets, including direct investments in major U.S. equities disclosed through SEC filings.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | +8.1% |
| YTD return | -0.8% |
| Sharpe ratio | 1.94 |
| Win rate | 53% |
| AUM | $11.8B |
| Inception | Oct 1, 2025 |
| Updated | Sep 18, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $11.8B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | https://www.kwsp.gov.my |
Current Holdings
Updated on Sep 18, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| MSFT | Microsoft Corporation | 16.4% | +8.8% |
| NVDA | NVIDIA Corporation | 12.8% | +5.2% |
| GOOGL | Alphabet Inc Class A | 7.9% | -7.1% |
| MU | Micron Technology Inc | 6.8% | +5.2% |
| AVGO | Broadcom Inc | 6.7% | -15.1% |
| META | Meta Platforms Inc. | 6.1% | +6.4% |
| CRWD | Crowdstrike Holdings Inc | 5.5% | +20.0% |
| AAPL | Apple Inc | 5.4% | +7.9% |
| LLY | Eli Lilly and Company | 5.2% | +4.0% |
| NOW | ServiceNow Inc | 5.1% | +9.3% |
| AMZN | Amazon.com Inc | 5.1% | -5.4% |
| PANW | Palo Alto Networks Inc | 4.6% | +27.1% |
| AZN | AstraZeneca PLC | 4.6% | -1.6% |
| AEM | Agnico Eagle Mines Limited | 4.0% | -3.3% |
| PWR | Quanta Services Inc | 3.8% | -7.2% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Aug 31, 2026 | SELL | GOOGL | 8.1% → 7.9% |
| Aug 31, 2026 | BUY | CRWD | 4.6% → 5.5% |
| Aug 31, 2026 | SELL | PANW | 5.0% → 4.6% |
| Aug 31, 2026 | SELL | LLY | 5.5% → 5.2% |
| Aug 31, 2026 | SELL | MSFT | 16.3% → 16.4% |
Investment Style Analysis
Employees Provident Fund is widely recognized for employing a Multi-Strategy strategy. As of Sep 18, 2026, the firm oversees approximately $11.8B in assets under management (AUM). The portfolio demonstrates a clear preference for the Software - Infrastructure and Semiconductors sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Aug 31, Employees Provident Fund made a significant move by reducing the position in GOOGL. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
The EPF operates under a Strategic Asset Allocation (SAA) framework designed to optimize risk-adjusted returns over a long-term horizon. Its philosophy emphasizes capital preservation and stable growth, with a core mandate to protect members' retirement savings while delivering consistent annual dividends. The fund allocates significantly to fixed-income instruments to provide steady income and acts as a major institutional player in domestic and global equity markets. Additionally, the EPF has committed to integrating Environmental, Social, and Governance (ESG) considerations into its entire investment process, aiming for a fully ESG-compliant portfolio by 2030 to mitigate risks and ensure sustainable value creation for its stakeholders.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with Employees Provident Fund.
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Frequently asked questions
How is the simulated portfolio for Employees Provident Fund constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is Employees Provident Fund's largest holding?
As of the latest filing, Employees Provident Fund's top position is Microsoft Corporation (MSFT), representing 16.4% of the portfolio. This reflects a high-conviction bet by the institution.
What is Employees Provident Fund's historical performance and risk profile?
Our simulation indicates a total return of +8.1% with a win rate of 53%. Notably, the portfolio maintains a Sharpe Ratio of 1.94, suggesting an strong level of risk-adjusted returns compared to the broader market.
What sectors does Employees Provident Fund primarily invest in?
Employees Provident Fund has a strong preference for the Software - Infrastructure sector, which makes up 26.5% of their disclosed assets. The portfolio also has exposure to Semiconductors, indicating a specific thematic focus.
Is Employees Provident Fund's portfolio concentrated or diversified?
Employees Provident Fund runs a highly concentrated portfolio with 15 disclosed positions. The top 3 holdings alone account for 37.1% of the total portfolio weight, suggesting a strategy that favors deep research into a few key names.
How has Employees Provident Fund performed in 2026?
Our AI-simulated model portfolio for Employees Provident Fund tracks a Year-to-Date (YTD) return of -0.8%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Ahmad Zulqarnain Onn manage Employees Provident Fund directly?
Yes, Ahmad Zulqarnain Onn serves as the key portfolio manager for Employees Provident Fund, overseeing the investment strategy and final capital allocation decisions.