KERNEL KIWISAVER PLAN
Kernel Nz Bond 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
6
Exited
10
Grew / Shrank / Held
0 / 0 / 0
Entered the top 10
- Dunedin City Treasury5.55% of fund
- NZ LGFA4.50% of fund
- Watercare Services Ltd3.85% of fund
- Wellington Intl Airport3.32% of fund
- NZGS3.00% of fund
- Kiwi Property Group2.85% of fund
Exited the top 10
- NZGS 4.25% 15/05/2034Bondswas 16.63%
- NZGS 2.75% 15/04/2037Bondswas 8.86%
- NZGS 4.50% 15/05/2030Bondswas 6.28%
- DUNEDIN CITY TREASURY 5.55% 15/11/2028Bondswas 5.11%
- WELLINGTON INTL AIRPORT 3.32% 24/09/2031Bondswas 5.07%
- NZGS 1.50% 15/05/2031Bondswas 4.44%
- NZGS 2.00% 15/05/2032Bondswas 4.23%
- SOUTHLAND BUILDING SOCIETY 6.14% 07/03/2029Bondswas 3.96%
- KIWIBANK LTD 4.75% 11/12/2029Bondswas 3.60%
- NZGS 1.75% 15/05/2041
Current top holdings (31 March 2026)
| Asset | Class | Country | % of fund |
|---|---|---|---|
| Dunedin City Treasury | — | — | 5.55% |
| NZGS | — | — | 5.00% |
| NZ LGFA | — | — | 4.50% |
| NZGS | — | — | 4.50% |
| NZGS | — | — | 4.25% |
| NZGS | — | — | 4.25% |
| Watercare Services Ltd | — | — | 3.85% |
| Wellington Intl Airport | — | — | 3.32% |
| NZGS | — | — | 3.00% |
| Kiwi Property Group | — | — | 2.85% |
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.