KERNEL KIWISAVER PLAN
Kernel Cash Plus 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 / 3 / 1
Entered the top 10
- SBS Commercial Paper3.50% of fund
- NZGT Tributum Ltd Commercial Paper2.95% of fund
- Tax Traders2.93% of fund
Exited the top 10
- RABOBANK FRN 05/04/2027Cashwas 6.44%
- SBS COMMERCIAL PAPER 4.20% 06/10/2025Cashwas 3.22%
- TAX TRADERS 3.94% 17/07/2025Cashwas 2.98%
- NZGT TRIBUTUM CP 3.73% 26/09/2025Cashwas 2.90%
- AUCKLAND COUNCIL CP 05/09/2025Cashwas 2.69%
- RABOBANK FRN 19/06/2028Cashwas 2.55%
Decreased weighting
- Kiwibank Ltd FRN 13/06/20287.44% → 2.40% (-5.04 pp)
- Auckland Council FRN 04/10/20275.83% → 5.14% (-0.69 pp)
- MTFGI FRN 24/11/20262.92% → 2.40% (-0.52 pp)
Current top holdings (31 March 2026)
| Asset | Class | Country | % of fund |
|---|---|---|---|
| Auckland Council FRN 04/10/2027 | — | — | 5.14% |
| SBS Commercial Paper | — | — | 3.50% |
| NZGT Tributum Ltd Commercial Paper | — | — | 2.99% |
| NZGT Tributum Ltd Commercial Paper | — | — | 2.95% |
| Tax Traders | — | — | 2.93% |
| Kiwibank Ltd FRN 13/06/2028 | — | — | 2.40% |
| MTFGI FRN 24/11/2026 | — | — | 2.40% |
| Bank of China Deposit | — | — | 14.95% |
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.