KERNEL KIWISAVER PLAN
Kernel Balanced Fund — holdings changes
Top-10 portfolio holdings extracted from each FMA-mandated Quarterly Fund Update. The diff below shows what entered, exited, grew, or shrank between the two most recent quarters on file.
Comparing
7 September 2025 → 31 March 2026
Entered
3
Exited
6
Grew / Shrank / Held
0 / 4 / 0
Entered the top 10
- The fund had a8.89% of fund
- NZGS4.25% of fund
- SPDR Portfolio Emerging Markets ETF3.49% of fund
Exited the top 10
- ISHARES CORE US AGGREGATE BOND ETFBondswas 10.23%
- NZGS 4.25% 15/05/2034Bondswas 4.05%
- NZGS 2.75% 15/04/2037Bondswas 2.32%
- BANK OF CHINA DEPOSITCashwas 1.99%
- ALPHABETShareswas 1.75%
- AUCKLAND INTERNATIONAL AIRPORTShareswas 1.73%
Decreased weighting
- Microsoft3.14% → 1.74% (-1.40 pp)
- Nvidia Ord3.29% → 2.69% (-0.60 pp)
- Apple Inc2.64% → 2.36% (-0.28 pp)
- Fisher & Paykel Healthcare Corp Ltd2.02% → 1.76% (-0.26 pp)
Current top holdings (31 March 2026)
| Asset | Class | Country | % of fund |
|---|---|---|---|
| The fund had a | — | — | 8.89% |
| NZGS | — | — | 5.00% |
| NZGS | — | — | 4.50% |
| NZGS | — | — | 4.25% |
| SPDR Portfolio Emerging Markets ETF | — | — | 3.49% |
| Nvidia Ord | — | — | 2.69% |
| Apple Inc | — | — | 2.36% |
| Fisher & Paykel Healthcare Corp Ltd | — | — | 1.76% |
| Microsoft | — | — | 1.74% |
Data sources
- FMA Disclose register — Quarterly Fund Updates
- Provider websites — issuer-published QFU PDFs
Top-10 holdings are a snapshot only; funds may hold many more positions outside the top-10. General information only — not financial advice.